Many experts are concerned that the commercial real estate bubble will burst, and while Boris Mizhen agrees that the high prices and fast growth will be difficult to sustain, he is optimistic about the year ahead.
— San Francisco has established itself as a leading hub for technology startups, billion-dollar “unicorn” companies, and commercial real estate. With continued development transforming the city’s skyline and waterfront, the region provided a fitting setting for this year’s ‘San Francisco State of the Market’ conference. New York-based property developer and online marketer Boris Mizhen attended the event, which was organized by Bisnow, a leading commercial real estate news and events company. The conference opened with a keynote address from John Kilroy, Chairman, President, and CEO of Kilroy Realty Corporation. The event brought together developers, investors, engineers, and local business and civic leaders to examine the trends and challenges shaping San Francisco’s real estate market. Among the key topics discussed were sustainability and environmentally responsible development, the continuing expansion of the technology sector, and rising housing costs. For industry professionals such as Mizhen, the conference provided an opportunity to gain insight into the forces influencing one of the country’s most dynamic real estate markets and to exchange perspectives with other leaders in the field.
The focus of this year’s ‘San Francisco State of the Market’ conference was on the biggest real estate trend in the city for the year – tech demand. In the previous year, at least 14 different companies signed leases, each at over 9,000 square feet, for research and creative office space; 60% of those leases were dedicated to businesses working on technology developments. San Francisco’s real estate professionals discussed the most pressing question of whether the market can sustain such rapid growth. Many experts are concerned that the commercial real estate bubble will burst, and while Boris Mizhen agrees that the high prices and fast growth will be difficult to sustain, he is optimistic about the year ahead. The top minds who are actively working on plans for growth spoke at ‘San Francisco State of the Market’, including the city’s Planning Director, John Rahaim, and real estate business experts Ken Perry and Jack Sylvan, the CEO of the Swig Company and VP of Development at Forest City, respectively. The meeting agenda included talks on the City’s Perspective and the Future of Office and Development.
Another important discussion at the conference was the emphasis on future sustainable construction. Boris Mizhen has made careful planning and property improvement a cornerstone of his work as a real estate developer and manager, and was in attendance while executives discussed upcoming plans for further construction. San Francisco, long known for progressive thinking and leadership, will see a lot of work in this area in 2016, as the city’s developers and managers look for creative ways to boost the industry within a viable and environmentally friendly framework. Experts in sustainable engineering, including Nik Lahiri, President of Essel Environmental Engineering and Consulting, and Christian Agulles, Principal of PAE Consulting Engineers, spoke on the possibilities that lie ahead for the city. After the talk on Construction and Design, the meeting concluded with a late morning networking session. Today, Bisnow’s Bay Area trade show remains an event charged with excitement and optimism and has heralded a vibrant year for the commercial real estate market in San Francisco.
Boris Mizhen is a New York-based entrepreneur who became one of the country’s leading property developers, business strategists, and investors. He began his career in real estate after establishing himself as one of the world’s most innovative online marketers. Mizhen owns and manages dozens of successful properties across the Northeastern United States and continually looks for new ways to advance the real estate industry. His passion for buying and improving housing for people of differing economic backgrounds parallels his love for charitable work, including the Jewish Foundation of Greater New Haven and Chabad of the Shoreline, whose annual festival he has sponsored for over a decade.
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