What the State Fair of Texas can Teach us about Commercial Real Estate

Our travels took us to Dallas, Texas for the last week of the State Fair of Texas - the world’s largest state fair - I’m told. After all, everything is bigger…
 
Anytime we travel, I always look for a lesson or two or at least a way to improve brokering commercial real estate. This trip was no different, but maybe a bit harder to ascertain.
 
So maybe a look at how the Orange County Fair and State Fair of Texas differ would be fun with a bit of commercial real estate mixed in. If you’re up for it, here goes.
 
The first thing that hits you at the Texas State Fair is the scale. It’s enormous. Big Tex greets you from his perch above the fairgrounds, smiling down on acres of exhibits, food stalls, and carnival rides. The Orange County Fair by comparison feels more intimate, more navigable, and, well, more California casual. Both are successful in their own way, but they serve different audiences with different expectations.
 
Commercial real estate is much the same. Some markets operate on a Texas scale - huge industrial parks, massive logistics hubs, and sprawling development tracts. Others, like Southern California, require creativity within tight boundaries. We don’t always have more land to build on, so we learn to repurpose, subdivide, and modernize. It’s the difference between having a wide-open canvas and mastering the art of working inside the frame.
 
Another noticeable difference is pace. At the Texas fair, people linger. They stroll, talk, eat, and soak in the atmosphere. In Orange County, we move faster. We come for an afternoon, check a few exhibits, maybe catch a concert, and then we’re on to the next thing.
 
This mirrors brokerage styles. In some regions, deals develop slowly through long-term relationships and measured conversations. In others, the tempo is brisk - speed, competition, and timing often determine who wins. The best brokers, like fair organizers, understand their crowd. They adjust their rhythm to match the market.
 
Then there’s the food. At the State Fair of Texas, deep-fried creativity reigns supreme. Fried butter. Fried bacon-wrapped hot dogs. Even fried cookie dough. It’s indulgent, over the top, and delightfully unapologetic. At the Orange County Fair, you’ll still find your share of fried temptations, but there’s also a nod toward fresh, local, and organic.
 
This difference in flavor has a lesson too. In brokerage, knowing your client’s appetite is everything. Some crave big, bold moves - buying large portfolios, chasing redevelopment plays, or taking on risk for the promise of reward. Others prefer steady, predictable, and sustainable decisions. Our job is to serve what satisfies, not just what’s trending on the midway.
 
I also noticed something subtle but powerful at both fairs: community pride. The Texas fairgrounds tell the story of the state - its agriculture, innovation, and culture. The Orange County Fair showcases local artists, small businesses, and family-owned farms. Both fairs remind their visitors that they’re part of something larger.
 
Great commercial real estate brokers do the same. We connect businesses to communities, not just buildings to tenants. When a manufacturer expands, a warehouse fills, or a property sells, we’re shaping the local economy. Every transaction adds a thread to the fabric of the region we serve.
 
So what can the State Fair of Texas teach us about commercial real estate?
 
That size matters, but so does fit. That pace varies, but focus wins. That knowing your audience - whether they want fried Oreos or fresh fruit - is the key to satisfaction. And most importantly, that pride in place transforms transactions into relationships.
 
As Big Tex would say, “Howdy, folks!” Whether you’re buying, selling, or leasing, make your next deal something to smile about.
 
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.
 
 

What can the City of Brotherly Love teach us about commercial real estate?

Our travels took us to Philadelphia, Pennsylvania last week. No. Not for the pivotal Dodger vs Phillies series but for a stop on my book tour and bit of work. Yes! We were able to sample a Philly cheesesteak - alas a vegan one - and ascend the Rocky steps to city hall. We even attended a musical in the same theatre Thomas Jefferson graced in 1807.
 
You may be wondering what a trip east can teach us about commercial real estate? Indulge me while I review a few reasons.
 
Legacy matters. Walking the cobblestone streets of Old City, you are reminded that history leaves an imprint on everything. The architecture tells a story of adaptation and endurance. Buildings that once housed print shops or tanneries now host tech startups, art galleries, and coffee roasters. The lesson? A well-built structure can live many lives. In commercial real estate, we often focus on the next deal, but Philadelphia reminds us that long-term vision and sound fundamentals outlast the trends of the moment.
 
Density breeds creativity. Every block in the downtown core bursts with energy. Office towers sit shoulder to shoulder with residential conversions and vibrant street-level retail. It is a living example of how proximity drives collaboration. In Southern California, where sprawl is our default, we can learn from Philadelphia’s mixed-use fabric. The best projects today are those that layer uses - industrial with office, retail with residential, community with commerce. When people and ideas collide, opportunity follows.
 
Transit changes everything. Unlike most West Coast cities, Philadelphia was built for pedestrians and trains, not cars. That simple difference shapes land use, property value, and even tenant demand. Industrial users there still rely on rail access. Office tenants value walkability. Neighborhood retailers thrive because foot traffic never stops. The takeaway for us is clear: accessibility sells. Whether through freeways, ports, or planned transit corridors, the ease of connection defines the worth of location.
 
Pride of place builds value.
Philadelphians are proud of their city. You can feel it in every mural and every conversation at the corner market. That civic pride translates into investment, maintenance, and long-term ownership. As brokers and owners, we know that when people believe in their community, properties stay leased and values rise. A clean street, a cared-for façade, or a supportive business district can elevate an area faster than any zoning change.
 
Reinvention is not a phase - it is a way of life. From its colonial roots to its modern skyline, Philadelphia has reinvented itself countless times. Industry shifted. Populations moved. Yet the city continues to evolve, not resist. That spirit of adaptation is exactly what today’s commercial real estate world demands. Office conversions, e-commerce distribution, re-shored manufacturing - all of it requires the same willingness to look at existing assets and ask, “What could this become?”
 
So, what can the City of Brotherly Love teach us about commercial real estate? That legacy, density, access, pride, and reinvention are not just urban characteristics. They are timeless business principles. The best deals, like the best cities, are those that continue to create value long after the ink dries.
 
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.
 
 

What a 50th High School Reunion Can Teach Us About Commercial Real Estate

Last weekend, I attended my 50th high school reunion. It was a night filled with laughter, memories, and the occasional moment of “Wait, who are you again?” Fifty years. That’s a long time. My high school English composition teacher, Mrs. Beck, would be pleased I’m still using complete sentences, correct punctuation and an occasional pun. But I digress. 
 
As I looked around the room, I couldn’t help but notice how much this gathering had to say about the business I’ve spent my life in: commercial real estate. 
 
The Power of Relationships
 
A reunion is really a relationship check-in. You see the people with whom you stayed in touch, and you also rediscover connections that simply went dormant. Some classmates reminded me of things we did decades ago that I had forgotten. It struck me that commercial real estate works the same way. Relationships never really expire. A client I helped in 1998 might call me today with a new need. When you treat people right, time becomes an ally, not an obstacle.
 
Cycles and Constants
 
At the reunion venue, I saw the full spectrum of change. Hairstyles, waistlines, and technology have certainly evolved. Yet the essence of people remains constant. The same is true of our business. Markets rise and fall. Interest rates climb and dip. Industrial demand surges and softens. But the fundamentals never change. Location, supply and demand, and integrity still matter more than anything else.
 
Adaptation Equals Longevity
 
A few classmates had completely reinvented themselves. They took risks, learned new skills, and embraced change. Others had refused to evolve and seemed stuck in time. In real estate, the difference between thriving and surviving often comes down to the same thing. Those who adapt to new tools, new markets, and new client expectations remain relevant. Those who don’t fade into memory.
 
Legacy Over Titles
 
No one at a 50th reunion brags about their job title or income. The conversation turns to family, friends, and impact. That perspective hit me deeply. In commercial real estate, we can get consumed by the next deal or the next commission check. Yet, in the end, our legacy is not measured by the size of our portfolio but by the reputation we built and the people we helped along the way.
 
The Long Game Always Wins
 
Some of the strongest friendships in that room began with small moments fifty years ago. The same is true in brokerage. A quick conversation, a handwritten note, or an act of service can echo decades later. The long game always rewards those who play it with consistency and care.
 
Fifty years of shared history reminded me that success in both life and commercial real estate is about connection, character, and commitment. The deals come and go. The relationships endure.
 
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.
 

What Happens to Your Building When You Sell Your Company?

Many family-owned businesses face this reality at some point: you decide to sell your company. 
 
Congratulations! It’s the culmination of years, maybe decades, of hard work. But if your business occupies real estate, whether owned by a related entity or leased from a third party - there’s another big question: what happens to the building?
 
The answer depends largely on whether your company owns the property through a related entity or simply leases space from an unrelated landlord. Each path requires a different strategy.
 
Scenario One: Owned Real Estate
 
If your operating business occupies a building owned by you or a related entity, several options emerge:
 
Sell the real estate before the business sale. You can sell the building to an owner - occupant and arrange to vacate once the company transaction closes. This separates the real estate deal from the business deal, providing clarity for all parties.
 
Lease the building to the buyer of the business. Instead of selling, you might keep the property and sign a lease with the buyer of your company. This allows you (or your family entity) to continue collecting rental income long after the business changes hands.
 
Formalize a lease before the sale of the business. Another option is to establish a lease between the related entity (property owner) and the operating company before selling. This locks in occupancy terms, giving the buyer certainty and making the business sale potentially more attractive.
 
Scenario Two: Leased Real Estate
 
If your company rents from an unrelated, arm’s-length landlord, the conversation is different. In this case, the business buyer will want to know:
          •        How much time is left on the lease?
          •        Are there options to renew or expand?
          •        Is the rental rate market-competitive?
 
A strong lease can be an asset to the sale, while an expiring or above-market lease can become a liability. In many cases, negotiating an extension or adjustment with the landlord before selling the business can smooth the path for a transaction.
 
Why This Matters
 
Buyers aren’t just purchasing your business operations - they’re buying continuity. If the real estate arrangement is murky, the deal becomes more complicated. By addressing how the building fits into the transaction, you eliminate uncertainty, increase buyer confidence, and often enhance the overall value of the sale.
 
Final Thought
 
Selling a business is one of the biggest financial and emotional decisions a family will ever make. Don’t let the real estate piece become an afterthought. Whether you own or lease, work with advisors who can help you consider all potential directions so you can move on to your next chapter with peace of mind.
 
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.