Marshall Field’s Contribution To Retail

Our travels took us to the Windy City over the weekend to celebrate a milestone event in our marriage. To better understand one of America’s great cities and its origin - we took a walking city tour. I love the architecture of the bygone days and as a commercial real estate professional, the story behind how cities develop is fascinating to me. 
 
As we approached the corner of State and Washington, an immense fourteen story structure loomed. We found ourselves learning about a Chicago icon—Marshall Field. As we strolled through this bustling city, weaving through shoppers and gazing up at storefronts, I was reminded of just how much one man, more than a century ago, shaped the way we experience retail today. 
 
Things such as individual item pricing, customer service, purchase returns and the experiential approach stores such as BassPro and REI have adopted were all Field hallmarks. 
 
Field’s legacy is more than a department store; it’s a blueprint for modern commerce, and his influence is still alive in almost every retail experience we have today.
 
Marshall Field more than a retailer—he was a visionary. His store on State Street wasn’t just a place to buy things; it was a place to be. He understood, long before anyone else, that shopping should be more than a transaction—it should be an experience. Walking into his store was like stepping into another world, where beautiful displays and carefully curated products drew customers in, not just to buy, but to linger and enjoy. 
 
Field realized that the environment mattered as much as the merchandise. It’s no wonder department stores became destinations unto themselves, and that tradition endures in some of our most iconic retailers today.
 
But Field’s real genius was his deep respect for the customer. He’s the one who coined the phrase "The customer is always right," and he truly lived by it. He made it easy for people to return items if they weren’t satisfied, a policy that, at the time, was revolutionary. Field believed that if you treated people well, they’d keep coming back—and they did. 
 
His dedication to customer service laid the groundwork for the personalized, customer-first approach that we all expect from businesses now.
 
Field also understood something else that was ahead of its time: the value of offering a unique product mix. He built relationships with suppliers all over the world to bring exclusive, high-quality items to his stores. Instead of trying to be everything to everyone, he focused on offering carefully selected goods that reflected the taste and aspirations of his clientele. It’s a lesson that many retailers would do well to remember—especially in today’s landscape, where a well-curated selection often speaks louder than endless options.
 
It was more than the products or the atmosphere, though. Field also believed in running his business with integrity and treating his employees with respect. At a time when labor conditions were often harsh, he made sure his employees were paid fairly and worked in humane environments. This not only created a loyal workforce but also reinforced the values of his brand—integrity, quality, and care. It’s a reminder that the culture behind the scenes often shapes the experience in front of the store.
 
As I reflect on my own experiences—whether it’s walking through grand department stores in major cities or the charm of smaller, curated shops—I realize how much of what we take for granted in retail today can be traced back to Marshall Field’s vision. His legacy is a reminder that great businesses aren’t just built on products—they’re built on people, values, and an unwavering commitment to creating something special. 
 
So next time you’re enjoying a beautifully crafted window display or being greeted with a smile when you walk into a store, take a moment to think about Marshall Field, the man who helped make it all possible.
 
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.

Random Thoughts on the State of Commercial Real Estate

Occasionally, it’s good to clear your inbox. Mine is particularly full as I’ve been out of state since mid-August. What follows are some random thoughts that are swirling around my consciousness. As someone famous once opined—they’re only opinions, but they’re all mine. So, here goes.

Traveling through the Northeast was inspirational! Our destinations included several cities in six states: Providence, Rhode Island; Boston, Massachusetts; Portsmouth, New Hampshire; Bangor, Maine; New York City; and New Haven, Connecticut.

The contrast between these historic cities and the rapidly evolving commercial real estate landscape back home is striking. In many ways, the old-world charm of the Northeast reminds me of the long-term value that well-located, enduring properties can offer. While shiny new developments and the latest logistics hubs dominate the conversation, there’s something to be said for the stability and reliability of properties that have stood the test of time.

Back in Southern California, the commercial real estate scene continues to shift. One of the more surprising developments this summer has been the unexpected uptick in leasing activity, particularly in the logistics sector. Chinese companies, spurred by the Trump-era tariffs and ongoing global supply chain disruptions, are snapping up warehouse space to better manage their inventories. It’s a trend that caught many off guard, especially considering we’re typically in the slower, vacation-heavy months of the year.

But this isn’t just a story of international companies adapting to geopolitical realities. It’s also a reminder that in commercial real estate, timing and market dynamics are everything. When supply exceeds demand, as we’ve been seeing with the glut of Class A logistics inventory above 100,000 square feet, price reductions inevitably follow. Yet, just as prices begin to soften, we’re witnessing renewed interest and activity. It’s almost as if the market itself is a living, breathing entity, responding to every nudge and shift in the global landscape.

Reflecting on these developments, I’m reminded that the commercial real estate market, much like the cities I visited, is a blend of the old and the new, the predictable and the unexpected. While it’s easy to get caught up in the latest trends or geopolitical shifts, there’s value in stepping back and considering the broader picture.

Perhaps that’s why I find travel so enriching. It offers a fresh perspective, a reminder that while the landscape may change, certain fundamentals—like the importance of location, timing, and adaptability—remain constant. So, as I clear my inbox and return to the day-to-day, I’ll keep these random thoughts in mind. They may be just that—random—but in the ever-evolving world of commercial real estate, they offer a lens through which to view the bigger picture.

And with that, it’s back to business as usual. Until the next trip, or the next unexpected shift in the market, these thoughts will keep swirling, reminding me that in real estate, as in life, it’s all about how you navigate the changes.
 
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.