San Francisco has regional flash for specialized firms. (Focus on Commercial Real Estate)

San Francisco has regional flash for specialized firms

There has been much discussion in the past few years about whether San Francisco will maintain its pre-eminent position as the center of business and commerce in the Bay Area.

Changes that have taken place since 1980 - an unprecedented construction boom throughout the nine-county region, corporate mergers and migrations, the slow-growth initiatives - have transformed business and social patterns.

Amid these changes, a controversy has arisen concerning San Francisco's ability and willingness to compete with the emerging commercial centers in neighboring counties. A possible new economic order has far-reaching consequences for local businesses and residents.

Many local real estate professionals believe that restrictions on new office construction, such as those imposed by Proposition M, will lead …