As I write this, I’m
looking out over the vast blue Pacific Ocean. My wife, Carla, and I decided to
splurge for our 46th wedding anniversary. The horizon stretches endlessly, a
full moon reflects on the ocean, waves roll in with steady crashing, and I can’t
help but reflect on our life together.
You may wonder - what does
being married since the Carter administration have to do with commercial real
estate?
Bear with me. I believe
who you love and with whom you choose to spend your life matters foundationally
to building a successful career. In my case, Carla’s patience, wisdom, and
encouragement have been the bedrock under everything I’ve accomplished in brokerage.
And along the way, I’ve learned a few lessons that apply equally well to
marriage and to commercial real estate.
Commitment Outlasts Market
Cycles
Marriage requires
commitment - not just when things are easy, but through the tough times too.
Real estate is no different. Since I began in the early 1980s, I’ve watched
interest rates soar, the savings and loan crisis unfold, bubbles inflate, and
recessions squeeze the market. Through it all, commitment - whether to a
client, a property, or the process - proved more valuable than chasing
short-term gains. Just as in marriage, staying the course yields long-term
rewards.
Communication is
Everything
After 46 years, Carla and
I still occasionally misunderstand each other. But we’ve learned to keep
talking, keep listening, and keep clarifying. The same principle applies in
commercial real estate. Deals collapse when communication falters. Clients don’t
expect perfection; they expect honesty. A simple phone call explaining a
setback can preserve trust better than any contract clause.
Patience Produces Fruit
No one celebrates 46 years
without patience. There were times when raising kids, building careers, and
paying bills felt overwhelming. But patience - trusting that small investments
of time and effort compound - got us through. Commercial real estate rewards
patience as well. Transactions can drag on, negotiations can stall, and
entitlement processes can feel endless. Yet patience, paired with persistence,
is often the difference between a failed deal and a successful close.
Shared Values Create
Alignment
Carla and I built our life
on shared values: faith, family, and integrity. Those values guided decisions
on where to live, how to raise children, and even how to face hardship. In
brokerage, I’ve found that values alignment with clients is equally important.
Not every prospect is a fit. When you align with those who share your values -
fairness, transparency, long-term thinking - the relationship flows, and the
work is more rewarding.
Adaptability is Survival
Marriage is a constant
process of adaptation. People grow, circumstances shift, and unexpected
challenges arise. Carla and I had to adapt when careers changed, when children
left home, and when new seasons of life arrived. In real estate, adaptability
is equally critical. A strategy that worked in one market cycle may not work in
another. Brokers who survive are those who adjust without abandoning their
foundation.
Closing Reflection
Looking out at the
Pacific, I’m struck by how steady and timeless it feels. Yet even the ocean is
always in motion, waves constantly breaking and reforming. That’s marriage.
That’s commercial real estate. Both require a balance of commitment and
flexibility, patience and action, values and adaptability.
As I celebrate 46 years
with Carla, I’m reminded that no career is built in isolation. The
relationships that anchor us at home often provide the resilience and
perspective we need in business. Success, in life and in real estate, rests not
only on the deals we make but on the people who walk with us through the
journey.
Every thriving Southern California manufacturing or
logistics company started somewhere—often at a kitchen table or in a garage.
What happens between that first spark of an idea and the eventual decision to
sell the company is a fascinating—and often overlooked—journey. The
throughline? Real estate.
The Stages of Business Growth and Real Estate
Decisions
The Idea Stage. Home-Based Operation. Most
businesses start small. At this stage, real estate decisions are limited—but
the dream of expansion is already forming.
Lease vs. Buy. The First Big Decision
As soon as a company outgrows the home, it’s time to
lease or buy space. Leasing provides flexibility, but ownership plants the
first seeds of wealth building.
Owning Your Building. Many family operators
eventually buy the building they occupy. This decision transforms monthly rent
payments into an appreciating asset that can outlast the business itself.
Growth Through Expansion or Acquisition. Success
brings complexity—hiring more people, adding machinery, opening new locations,
or acquiring competitors. Each move requires thoughtful real estate strategy.
Exit Planning and the Role of Real Estate.
Eventually, founders face succession or sale. If selling to a strategic
operator, the real estate may be carved out of the deal. If selling to private
equity, the real estate is often critical to their investment thesis.
The Hidden Lesson
In many cases, I’ve seen the real estate owned by
the business worth far more than the operation itself. That building becomes
not just a workplace but a long-term family asset, a hedge against business
cycles, and a powerful vehicle for generational wealth.
Closing Thought
The journey of a family-owned business in Southern
California is never just about products, people, or profits—it’s also about
property. Whether starting in a garage or exiting through a private equity
sale, real estate is the silent partner that can shape the legacy of a business
for generations.
Allen C. Buchanan,
SIOR, is a principal with Lee
& Associates Commercial Real Estate Services in Orange. He can be reached
at abuchanan@lee-associates.com or 714.564.7104. His website
is allencbuchanan.blogspot.com.
