New Shorenstein Tower Going Up in Downtown Oakland

According to the East Bay Business Times, Shorenstein Properties kicked off construction of Oakland’s latest high-rise tower yesterday. The new tower will be part of the City Center complex, rise 23 stories, and provide 600,000 square feet of office space. The Biz Times reports that Shorenstein is betting on the idea that San Francisco commercial rents are too expensive, and companies will flock to downtown Oakland as a cheaper alternative.