Commercial Property Owners Face a Growing Succession Challenge

As billions in commercial real estate prepare to change hands over the coming decade, many owners remain unprepared for the next generation.

FORT MYERS, Fla., July 29, 2026 /PRNewswire/ -- For decades, commercial real estate owners have focused on building wealth through acquisitions, development, and long-term ownership. Now, a different challenge is emerging: how to successfully transition those assets to the next generation.

The timing is significant. According to Chase Mayhugh, SIOR, CCIM, President and CEO of Mayhugh Commercial Advisors, succession planning has become one of the most overlooked risks facing commercial property owners. Cerulli Associates, a global research and consulting firm specializing in the asset and wealth management industries, the United States is in the midst of the "Great Wealth Transfer," with an estimated $124 trillion expected to change hands through 2048. Nearly $100 trillion of that wealth is projected to come from Baby Boomers and older generations as assets pass to heirs and charitable organizations.

"Many families have spent decades building extraordinary commercial real estate portfolios," said Mayhugh. "But too often, they've invested far more time planning how to acquire assets than how those assets will eventually be transferred, managed, or preserved."

Unlike traditional investment portfolios, commercial real estate holdings often involve multiple entities, financing structures, tax considerations, management responsibilities, and family dynamics. Without a coordinated transition strategy, owners may leave heirs facing unnecessary tax burdens, operational challenges, or difficult decisions that can ultimately diminish the value of a portfolio.

"Commercial real estate isn't simply inherited, it has to be operated," Mayhugh said. "The next generation may suddenly become responsible for leasing, financing, capital improvements, insurance, and tenant relationships without ever having managed those responsibilities before."

As Baby Boomers continue to retire and commercial real estate portfolios begin changing hands, Mayhugh says conversations around succession planning are becoming increasingly common.

"We're seeing owners ask questions that go far beyond buying or selling a property," he said. "'How should my portfolio be structured?' 'Should my children continue owning these assets together?' 'Is now the right time to diversify into another asset class?' Those are strategic conversations that deserve as much attention as the transactions themselves."

Recognizing this shift, Mayhugh Commercial Advisors has spent the past two years expanding its Commercial Real Estate Advisory and Wealth Management platform to better serve owners throughout the full lifecycle of their portfolios. While brokerage remains the firm's foundation, the expanded advisory services help clients address broader issues including portfolio strategy, financing, tax planning coordination, capital improvements, asset management, and multi-generational transition planning.

The firm's approach centers around three key areas:

• Strategy – Helping owners evaluate entire portfolios, identify opportunities, and make informed long-term investment decisions.
• Execution – Coordinating financing, leasing, acquisitions, tax strategies, insurance, and operational improvements through an integrated team.
• Continuity – Working alongside attorneys, CPAs, and family members to help preserve commercial real estate wealth across generations.

"We're not replacing attorneys or accountants," Mayhugh explained. "Our role is to bring everyone together so decisions are coordinated instead of made in isolation. Commercial real estate owners deserve the same level of strategic planning that families with traditional investment portfolios have benefited from for years."

As Southwest Florida continues to mature and many longtime owners prepare for retirement, Mayhugh believes succession planning will become one of the defining conversations in commercial real estate over the next decade.

"The question isn't whether ownership will change," he said. "It's whether families will be prepared when it does."

About Mayhugh Commercial Advisors
Founded in 1975, Mayhugh Commercial Advisors is a leading commercial real estate brokerage and advisory firm headquartered in Fort Myers, Florida, serving clients throughout Southwest Florida, including Fort Myers, Cape Coral, Naples, Bonita Springs, Estero, and Port Charlotte. The firm specializes in sales, leasing, property management, and strategic advisory of industrial, office, retail, land, and investment properties. Over the past five decades, Mayhugh Commercial Advisors has completed more than 3,000 commercial real estate transactions representing more than $2.2 billion in transaction volume and currently manages more than 1.2 million square feet of commercial property. Combining deep local market expertise with institutional-level resources, the firm helps property owners, investors, developers, and tenants maximize the value of their commercial real estate assets through data-driven strategy, market intelligence, and full-service commercial real estate solutions. For more information about Mayhugh Commercial Advisors, please visit https://mayhughcommercial.com/.

SOURCE Mayhugh Commercial Advisors