Brookfield Asset Management CEO Bruce Flatt recently stated in an interview on CNBC’s Squawk on the Street that, due to current market conditions, the company would not develop a new office building in San Francisco. He noted that “San Francisco’s tougher — there’s a lot of excess space and you wouldn’t do it today, but eventually yes,” adding his belief that “San Francisco is going to come back. It’ll be a great city in the long term.”
The company currently owns several office buildings located within San Francisco such as One Post Street, 685 Market St., and 5M at 415 Natoma St., which was delivered early last year. Additionally they own Stonestown Galleria where they are seeking approval for redevelopment plans.
