Lee Summit

I’m penning this from a hotel room overlooking Nashville, Tennessee. This year, our company re-routed our annual Summit from Las Vegas. I can’t quite see Broadway Street but I’m sure it’s sound asleep as it tends to stay up very late. My hope is it didn’t inflict too much damage on our attendees last evening, but I digress.
 
This year marks my umpteenth meeting - I stopped counting some time ago - but I’m excited to see old friends, meet some new ones, and learn a bit about all things commercial real estate.
 
As I start year 43 in this industry, here are five things I’ll anticipate. At this year’s Summit.
 
1. The Economy Will Remain the Headliner. No commercial real estate conference would be complete without experts armed with charts, graphs, and predictions. Interest rates, inflation, employment, consumer confidence, the war in Iran, and capital markets will all take center stage. While none possess a crystal ball, understanding the what’s happening around the nation, helps us make better decisions for our clients.
 
2. Industrial Real Estate Will Continue to Evolve. For years, industrial properties have been the darling of commercial real estate. While demand is returning, the conversation has shifted. Tenants and buyers are becoming more selective. New development has created competition in certain markets. Occupants are evaluating efficiency, automation, labor availability, and location more carefully than ever. The days of simply putting a sign on a building and watching tenants line up may be behind us.
 
3. Artificial Intelligence Will Be Everywhere. If the last three years were about discovering AI, the next few years will be about applying it. From underwriting, market analysis, vibe coding, marketing and client communications, artificial intelligence is becoming a meaningful productivity tool. It won’t replace brokers, investors, developers, or property managers, but it will likely replace those who refuse to learn how to use it.
 
4. Relationships Will Still Matter Most. Technology changes. Markets cycle. Interest rates rise and fall. What remains constant is the value of relationships. Many of these attendees and I started our careers together in the 1980s when our company expanded from one El Toro, California location. We’re over eighty offices strong now. Every conference reminds me that our business is ultimately a people business. Deals happen because of trust. Opportunities emerge because of connections. Careers are built one relationship at a time. Forty-two years into this profession, I am more convinced of that than ever.
 
5. I’ll Learn Something New. One of the reasons I continue attending events like this is simple: there is always something to learn. Sometimes it’s a new market trend. Sometimes it’s a fresh approach to solving a client’s problem. Occasionally, it’s a conversation in a hallway that sparks an entirely different way of thinking. The moment we believe we’ve learned everything is the moment we stop growing.
 
As I look out over Nashville and prepare for another Summit, I’m reminded that commercial real estate remains one of the most dynamic and fascinating industries imaginable. The buildings may change, the markets may shift, and the technology may advance, but the opportunity to learn, adapt, and serve clients remains as exciting today as it was when I started 42 years ago.
 
We’ll compare notes next week.

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.