Quite likely true, which means we now have an excellent argument against the libertarian ideal of private property.
In practice, we can put constraints on, for example, the kind of business one can do with one's private property, and the constraints one is under while doing that business (equal service laws, ADA compliance, and you can even cap rents to leave room open for low-revenue business to keep operating).
That's assuming gentrification isn't desirable. I'd tend to agree in general, but there's definitely some nuance there.