H
ere we are, December 2025. Across Southern California, families will soon light candles, trim trees, gather for Hanukkah, Christmas, Kwanzaa, and count the seconds to a fresh year. The holiday season always seems to arrive earlier each year, but that is beside the point.

    December also offers a new perspective. It reminds us that 2026 will arrive before we realize it, bringing fresh opportunities and challenges for those who own, lease, manage, or invest in commercial property.

    While many sectors slow down as the holidays approach, December remains the most consequential month for commercial real‑estate stakeholders. The last weeks of the year serve three key purposes:

    1. Planning ahead – landlords review rent rolls, upcoming renewals, debt maturities, and operating costs, and set strategic goals for the coming year. Occupants reassess headcount, space requirements, and whether their current footprint still fits a post‑pandemic hybrid model.

    2. Recapping 2025 – the year’s narrative for owners was shaped by rising construction costs, fluctuating interest rates, and evolving tenant expectations. For occupants, efficiencies, supply‑chain adjustments, and shifting labor patterns guided real‑estate decisions. A December review highlights what succeeded, what failed, and the trends likely to carry into 2026.

    3. Meeting deadlines – tax planning, lease notice periods, and budgeting cycles all converge in December. Overlooking any of these dates can lead to financial penalties or missed opportunities that echo into the new year. Decisions made—or delayed—during this month often dictate whether next year’s real‑estate expenses rise modestly or surge dramatically.

    As we close 2025, December offers a rare pause between what has been and what will be. Whether you own or occupy commercial space, the choices you make now set the tone for the year ahead. Take the time to evaluate, adjust, and anticipate. With deliberate planning and a clear view of market dynamics, 2026 can become a year of opportunity rather than uncertainty. May this holiday season bring you peace, perspective, and a prosperous start to the new year.

    Allen C. Buchanan, SIOR, principal, Lee & Associates Commercial Real Estate Services, Orange. Email: abuchanan@lee‑associates.com | Phone: 714.564.7104