By: Amanda Bishop - San Francisco Business Times

- December 29, 2000 - As Shorenstein Co. expands its empire across the country, it's adopting a more formal structure. Glenn Shannon was hired in the fall to be the company president, running the day-to-day operations of the real estate giant. That will give CEO and chairman Doug Shorenstein more time with the company's well-helled investors. Shannon will relocate from New York where he has served as managing partner for the New York office.

Real estate observers are closely watching the company, which is selling its landmark Bank of America Building and making a major push into Oakland. Who will buy the Bank of America and what price it will achieve is a topic of endless conversation in the real estate community. How Shorenstein, one of the Oakland's biggest real estate investors, will fare with 555 City Center is also being closely watched.

Shannon is sure to play a role in shaping Shorenstein's portfolio and growth. He has pledged to focus on company organization and the management of all the company's assets.

###