Hi Reader,
December 21 is the Winter Solstice, the shortest day of the year in the northern hemisphere. And then on December 22, we start gaining daylight! Enjoy every minute of the extra daylight this season while spending time with family and friends.
This month, we focus on answering the question: how do commercial real estate leaders prepare as we step into 2026. My take: embrace change and lead with clarity. With a few ‘on the ground’ suggestions to consider.
Last month’s newsletter got your attention. I loved hearing from people who shared that they are new to the Eisenhower matrix, are big fans of the matrix, and are plotting how to get their colleagues to use it (YKWYA).
It was also fun learning how some people know it as the Covey Box through Stephen Covey, who popularized President Eisenhower’s quote in his leadership books. To satisfy my curiosity, a few years ago I looked up the genesis of the Eisenhower matrix. It comes from a speech at Northwestern University in 1954 when President Eisenhower quoted a former college president during his remarks:
“This President said, ‘I have two kinds of problems, the urgent and the important. The urgent are not important, and the important are never urgent.’”
One of the best parts of writing this newsletter is hearing from you. Whether through an email, a shout out, or a hallway conversation, I am grateful for your generous reflections and feedback.
Thank you for reading. As always, I welcome your ideas, questions, and comments. Please keep them coming.
Leading into 2026
As we approach the end of 2025, if you are part of the real estate industry’s travelling holiday party circuit, you will hear people asking each other: what can we expect for 2026?
I propose that we also ask the question: how can we prepare for 2026?
The commercial real estate market continues to be shaped by disruption, opportunity, and recalibration. We are not returning to what was. This is a moment to redefine what is next.
Growing up in Alaska taught me the value of a frontier mentality. You do not ignore what is right in front of you or what you know might be an issue – think dangerous weather or wild animals. You look the problem in the eye, plan for contingencies, and then act.
In real estate today, that means embracing the change and leading with clarity.
Consider these three areas where CRE leaders can focus to position their teams for success in 2026:
1. Define Your North Star
In times of uncertainty, clarity is a competitive advantage. Set a clear direction to your end goal - the North Star - and align your strategy, team, and execution around it. Stay focused on the North Star and when you start to get distracted by noise, bring it back to the North Star.
What does that look like on the ground? When evaluating a new initiative or investment opportunity, ask yourself and your team members: does this align with the North Star?
Communicate the north star across your team and share it again and again. If you think that you are communicating it too much, you are probably just beginning to communicate it enough.
What does that look like on the ground? Add it to the top of your team meeting agendas. Reinforce it at the beginning of each company meeting.
Leaders who clearly define and consistently reinforce their North Star enable their teams to focus, prioritize, and deliver results.
2. Invest in Operational Excellence
Teams equipped with effective resources, tools, and support perform at higher levels. Building operational excellence creates a business advantage.
Start by understanding your portfolio, your people, and your processes. Identify what holds your team back and address it directly.
What does that look like on the ground? Ask your team where they struggle with processes that create unproductive friction. Evaluate where resources are allocated across the teams and if that aligns with organizational priorities, (cough cough) the North Star.
For many solutions, technology is a critical component. Explore where the intentional application of AI tools and the recognition of high-quality data as a strategic asset can solve today’s problems and position your organization to capitalize on tomorrow’s opportunities.
What does that look like on the ground? Learn from your team about how they are using technology and AI tools today, in their work and home lives. Catalogue the who has it, what is the format, where is it located, and how do you access it for the governing documents, financial reporting, operational data, etc of one asset or project.
Invest in your operations with the same rigor that you bring to your real estate assets.
3. Build Teams that Reflect the Future
The future is dynamic. Your team should be, too.
Diversity of experience, background, and thinking is not just a compliance checkbox - it is a strategic advantage. It sharpens decision-making, expands your field of vision, and builds organizational resilience. In a world defined by complex risks, the strongest teams will be those that can respond with agility, creativity, and credibility.
What does that look like on the ground? In meetings, look around the table and ask which perspective is missing. Set the stage and protect the space in meetings for each person to contribute meaningfully.
Proactively hire, develop, and retain talent with the skills and perspective needed for what is ahead – whether that is operationalizing AI, driving the energy transition, or navigating new global regulations.
What does that look like on the ground? Identify what new skills are needed on your team and which team members have the will to develop those skills. Develop relationships in networks where skilled talent can be accessed.
We cannot adjust the wind, but we can adjust the sails.
2026 will reward those who are clear-eyed, future-focused, and ready to lead through the friction. Embrace the change. Lead with clarity.