My recent travels took my wife and I to the upper Midwest where we witnessed the nuptials of our dear friend’s daughter. We found ourselves in the land of Lincoln — Illinois and Wisconsin.
You may be wondering what a trip to the Midwest has to do with Southern California commercial real estate. Please indulge me as I recap a few lessons learned.
One of the most striking aspects of our visit was the strong sense of community and local support in the Midwest.
Small towns thrive on mutual support and engagement, from local businesses to community events. In Southern California, fostering a similar sense of community within commercial developments can lead to more vibrant projects. Investing in local events, supporting small businesses, and creating spaces where people can connect can enhance the value and appeal of commercial real estate.
The Midwest is known for its unpredictable weather and the resilience of its people. This adaptability is a valuable lesson for commercial real estate in Southern California.
As we face challenges such as economic fluctuations, environmental concerns, and changing market demands, the ability to adapt and remain resilient is crucial. Incorporating flexible design elements and sustainable practices into commercial projects can help buildings withstand various challenges and remain valuable assets over time.
Illinois and Wisconsin boast a rich heritage, with a blend of historical landmarks and modern innovations.
Similarly, in Southern California, balancing preservation with progress is key. Renovating historical buildings to meet modern standards or integrating innovative technologies into new developments can create unique and appealing commercial spaces. Embracing both heritage and innovation can attract diverse tenants and visitors.
During our travels, we noticed the importance of efficient transportation and accessibility. Whether it was the well-connected highways or the ease of navigating small towns, getting around was convenient.
In Southern California, prioritizing transportation infrastructure and accessibility within commercial developments can significantly impact their success. Ensuring easy access for customers, employees, and goods can enhance the overall functionality and attractiveness of a property.
Lastly, our trip was a reminder of the power of personal connections. The warmth and hospitality we experienced highlighted the importance of building strong relationships, whether in business or personal life. In commercial real estate, nurturing relationships with clients, partners, and the community can lead to long-term success.
Personal connections often translate to trust, loyalty, and opportunities for growth.
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.
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