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marc's musings

a blog about #CRE

Elevating Tenant Experience: The Power of a Tenant Council

5/6/2025

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In today's competitive commercial real estate (CRE) landscape, tenant satisfaction and experience are more critical than ever.

"Tenants are the lifeblood of income-producing real estate investments - and tenant renewals are the most efficient way to impact asset value."

Retaining tenants not only minimizes the costs associated with finding new ones (marketing, leasing commissions, tenant improvements) but also ensures a consistent income stream, directly impacting a property's ROI.

Moreover, tenant expectations have evolved; they want more than just a space – they want a positive experience that contributes to their employees' well-being and productivity. In this context, fostering strong tenant relationships and exceeding their needs are paramount, and one highly effective strategy to achieve this is the implementation of a Tenant Council.


What is a Tenant Council?

A Tenant Council is a regularly meeting group comprising representatives from the real estate management team, the chief engineer, key vendors, and tenants. The primary purposes of the Tenant Council are to:

  • Open lines of communication
  • Collaboratively solve problems
  • Jointly make decisions about property operations

Benefits of a Tenant Council

  • Enhanced Communication: The Tenant Council creates a platform for consistent and direct communication between tenants, vendors, and property management, fostering a sense of transparency and trust.
  • Proactive Problem Solving: By bringing all parties to the table, the Tenant Council facilitates the quick identification and resolution of issues, minimizing disruptions and maximizing tenant satisfaction.  
  • Tenant Empowerment: The Tenant Council empowers tenants by involving them in decisions that affect their daily experience, from operational issues to aesthetic choices like flower rotations. This sense of ownership cultivates a stronger connection to the property.  
  • Improved Service Delivery: Regular feedback from tenants allows property management and vendors to fine-tune their services to better meet tenant needs and expectations.  
  • Increased Tenant Retention: Ultimately, the Tenant Council contributes to a more positive tenant experience, increasing the likelihood of lease renewals and reducing costly tenant turnover.  

Best Practices for an Effective Tenant Council

  • Time Efficiency: Keep meetings concise (around 60 minutes) to respect everyone's time.  
  • Agenda Management: Distribute agendas in advance and encourage tenants to contribute items.  
  • Focused Discussions: Ask specific questions to elicit actionable feedback.  
  • Clear Communication: Provide meeting summaries to all participants.  
  • Collaborative Decision-Making: Establish a clear process for making decisions (e.g., consensus or majority vote).  
  • Regularity and Predictability: Maintain a consistent meeting schedule.  
  • Accountability: Ensure that commitments made during meetings are followed through on.  

The Tenant Council is a powerful tool for any commercial real estate manager looking to elevate tenant satisfaction, foster collaboration, and drive tenant retention. By prioritizing open communication and tenant involvement, properties can cultivate a thriving community and ensure long-term success.

To learn more about the Tenant Council, including how to start one at your property, click the link to check out this white paper from INSPIRE:
Get the Tenant Council White Paper
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Proactive Tenant Viability Management: Cultivating Success in a Dynamic Market

5/6/2025

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Navigating Uncertainty, Cultivating Success

The commercial real estate (CRE) world in 2025 is a picture of change and contrast. While some areas are showing strength – office markets seem to be finding their footing with more space being leased in key locations, and the demand for industrial space is still reasonably strong, even if it’s cooled off a bit – real challenges remain.

However, the industry faces significant headwinds –  like inflation eating into operating costs and tenants’ profits, the impact of interest rate swings on financing and property values, and the lasting effect of hybrid work on office needs are all part of the current mix.

On top of that, the industry is dealing with more significant shifts, like tougher regulations and a growing need to focus on sustainability and ESG goals.

It’s essential to recognize that the market isn’t the same everywhere. There’s a clear trend where trophy properties in great locations with modern features are doing well – commanding higher rents and attracting tenants that want to keep their employees happy and project a strong brand image. Older or less attractive properties are facing more difficulties. This split shows that recovery and opportunities aren’t spread evenly.

INSPIRE's White Paper
 
Property managers who embrace this change, adjust their strategies, and focus on helping their tenants succeed are in the best position. They can not only handle the complexities but also build more stable properties and stronger, more valuable connections with their tenants.
There’s a feeling of cautious optimism in the industry, with hopes for better leasing activity and potential relief if interest rates stabilize as expected.
 
This white paper presents proactive tenant viability management as a key strategy for success in today’s CRE market. It’s about more than just avoiding problems; it’s about understanding how supporting and working with tenants directly leads to property stability, keeps tenants around longer, and ultimately boosts the property’s performance.

Click the link below to get your free copy of our white paper:
Get the White Paper
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Navigating Tariff Turbulence: The Strategic Advantage of Bonded Warehouses

5/6/2025

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The recent focus on evolving tariff policies has brought a fascinating, albeit niche, aspect of industrial real estate into the spotlight: bonded warehouses.

A bonded warehouse is a secure facility authorized by a government (in the United States, this is U.S. Customs and Border Protection - CBP) where dutiable goods can be stored, manipulated, or undergo manufacturing operations without payment of duty. The duty becomes payable only when the goods are withdrawn for consumption within the country.

Think of it like a temporary holding space for imported goods where the "tax" (tariff or duty) is deferred. This provides several benefits to importers, such as:

  • Cash Flow Management: Importers don't have to pay duties upfront on goods that might not be sold immediately or might be destined for export.
  • Duty Deferral: Allows businesses to store goods for up to five years while waiting for more favorable market conditions or until they are ready for distribution.
  • Export Advantages: Goods destined for export can be stored in a bonded warehouse without ever incurring duty.
  • Manipulation and Manufacturing: Certain operations like labeling, packing, sorting, and even some manufacturing processes can be performed within the bonded warehouse, potentially delaying or even avoiding duty payments on waste or exported components.

Bonded warehouses are subject to strict regulations and oversight by the customs authorities to ensure the security of the goods and the proper collection of duties when they are eventually released into the domestic market.

In a climate of trade uncertainty, bonded warehouses offer a significant strategic advantage, providing a crucial buffer for businesses navigating fluctuating levies.

Key Takeaways:
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  • Tariff Relief: Bonded warehouses offer a powerful tool for managing cash flow by postponing tariff payments until goods leave the facility.
  • Surging Demand, Limited Supply: The current environment has triggered a "mad dash" for these spaces, leading to near-zero vacancy nationwide.
  • Operational Nuances: Unlike Foreign Trade Zones (FTZs), duties in bonded warehouses are typically set upon departure, adding a layer of strategic timing.
  • Activation Lead Time: Establishing a bonded warehouse is not a quick fix. The certification process can take months, meaning those looking to capitalize on the current demand now may already be too late.
  • Long-Term Potential: While currently driven by tariff concerns, the increased awareness of bonded warehouses and FTZs could position these spaces as valuable marketing assets for forward-thinking industrial property owners in the long run.

This situation highlights the intricate relationship between global trade policies and the industrial real estate sector. Understanding the function and strategic benefits of specialized spaces like bonded warehouses is crucial for stakeholders across the supply chain.

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Building High-Performing CRE Teams: More Than Just Skills

5/1/2025

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You've assembled a team of talented commercial real estate professionals, each possessing valuable skills and experience.

  • Yet, is the team truly firing on all cylinders? Is collaboration seamless?
  • Is communication effective?
  • Is the collective output greater than the sum of its parts?

Building a high-performing CRE team requires more than just hiring skilled individuals; it demands a deliberate focus on fostering the right dynamics, culture, and ways of working together.

At INSPIRE, we understand that peak Performance relies not only on individual competence (People) and efficient Processes, but also on how effectively team members collaborate and support each other. That's why, alongside our consulting and L&D services, we offer dedicated Team Building and Facilitation programs designed to unlock the collective potential of your CRE team. 

The fact that we explicitly offer these services signifies our understanding that optimizing team dynamics is crucial for achieving superior results.


The Limits of Individual Skill

A team composed of individual stars operating in silos will rarely outperform a well-coordinated team with strong collaborative practices. Lack of effective communication, unclear roles, conflicting priorities, internal competition, or a deficit of trust can easily undermine individual expertise and lead to frustration, inefficiency, and suboptimal outcomes. High performance is fundamentally a team sport, especially in the complex, multi-faceted world of CRE.

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Upskilling Your CRE Team: Essential Skills for Today and Tomorrow

4/30/2025

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The commercial real estate industry is undergoing rapid transformation. Technological advancements, evolving tenant expectations, a growing focus on sustainability, and shifting market dynamics mean that the skills required for success are constantly evolving. Relying solely on past experience or existing knowledge is no longer sufficient. Continuous upskilling is essential for both individual career growth and organizational competitiveness.

Are you and your team equipped with the essential skills needed not just for today, but for the future of CRE? INSPIRE's Learning & Development programs are designed to help professionals acquire and hone the critical competencies needed to thrive in this changing landscape.

Skill Area 1: Technology & Data Literacy

Technology is no longer peripheral to CRE; it's becoming central. From property management software and CRM systems to building automation, data analytics platforms, and the growing influence of Artificial Intelligence (AI), technology is reshaping how properties are managed, marketed, and valued. Professionals need skills in:

  • Effectively utilizing relevant software platforms.
  • Understanding and interpreting data to inform decisions.
  • Recognizing how AI and automation can improve efficiency and service delivery.
  • Leveraging technology for better communication and tenant engagement.

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Invest in Your Team: The Compelling Case for CRE Learning & Development

4/30/2025

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"We're too busy right now."

"Training isn't in the budget this year."

Sound familiar?

These are common refrains in many industries, including commercial real estate, when it comes to investing in employee Learning & Development (L&D).
 But treating training as a discretionary cost, easily deferred or cut, is a critical mistake.

The real question isn't "Can we afford to train our team?" but rather, "Can we afford not to?"

Failing to invest in your CRE team's growth comes at a significant cost – inefficiency, errors, inability to adapt, low morale, and high turnover. 

Conversely, prioritizing L&D is a strategic investment that yields substantial returns. INSPIRE provides targeted L&D solutions, including our INSPIRE University platform, designed specifically to help CRE organizations build highly trained, adaptable, and high-performing workforces.

The High Cost of Untrained Teams

Consider the tangible consequences of underinvesting in your team's development:

  • Inefficiency: Employees lack the skills or knowledge to perform tasks optimally, leading to wasted time and resources.
  • Costly Mistakes: Lack of proper training increases the likelihood of errors in areas like financial reporting, lease administration, maintenance, or compliance, leading to direct financial losses or rework costs.
  • Inability to Adapt: Teams are unprepared to navigate changes in technology (like AI or new software), market conditions, sustainability requirements, or regulations, hindering the company's competitiveness.
  • Low Morale & Confidence: Employees feel undervalued and lack the confidence to tackle new challenges or perform at their best.
  • High Turnover: Lack of growth opportunities is a major reason employees leave, leading to significant recruitment and replacement costs.

These factors collectively result in subpar organizational Performance.

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Leading Through Change: Lessons from a CRE Veteran

4/30/2025

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Leadership isn't defined during times of stability; it's truly tested when navigating the turbulent waters of change. Whether facing market disruptions, technological shifts, organizational restructuring, or economic uncertainty, how leaders guide their teams through these periods determines whether the organization emerges stronger or falters.

Drawing upon over 30 years of executive leadership experience in the dynamic and often unpredictable commercial real estate industry, INSPIRE offers practical, battle-tested lessons on leading effectively through change. These principles are central to his keynote speaking and consulting engagements.

Lesson 1: Acknowledge Reality & Communicate Transparently

The first step in leading through change is acknowledging it exists.

Ignoring challenges, downplaying difficulties, or providing vague reassurances erodes trust faster than almost anything else. Effective leaders confront reality head-on. They communicate openly and honestly about the changing environment
, the challenges the organization faces, and the plan for navigating them. This transparency, coupled with fostering open dialogue and actively listening to concerns, builds credibility and helps the team feel respected and informed. This aligns with core change management principles, requiring skilled facilitation and communication – areas where
INSPIRE ​brings specific expertise.

Lesson 2: Anchor to Vision & Purpose (The "Why")

​During times of uncertainty and disruption, people crave stability and direction. It's the leader's role to provide that anchor by constantly reinforcing the organization's core mission, vision, and values. Help your team understand why the changes are necessary, how they align with the broader strategic goals, and how their individual contributions fit into the bigger picture. A clear sense of purpose provides motivation and focus when routines are disrupted. This focus on vision and strategic alignment is a key component of both effective leadership and INSPIRE's consulting approach.

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Igniting Passion: Bringing Energy and Insight to Your Next CRE Event

4/30/2025

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Planning a conference, association meeting, or corporate event?

Choosing the right keynote speaker can make the difference between a forgettable gathering and an inspiring, impactful experience. You need more than just a talking head reading slides; you need a speaker who can command the room, connect with the audience, deliver genuine insights, and ignite a sense of passion and possibility.


Look no further than Marc Fischer, founder of INSPIRE. An internationally recognized commercial real estate executive, author, and educator, Marc is a dynamic and sought-after keynote speaker known for delivering presentations that are inspirational, motivating, and genuinely fun.

Beyond the Podium: What Makes a Great Keynote?

An impactful keynote goes far beyond simply conveying information. It should:

  • Engage: Capture and hold the audience's attention through compelling storytelling and dynamic delivery.
  • Inform: Offer fresh perspectives, relevant insights, and practical knowledge grounded in real-world experience.
  • Inspire: Connect with the audience on an emotional level, sparking enthusiasm, motivation, and a desire for action.
  • Provide Value: Leave attendees with actionable takeaways they can apply to their own work and careers.

Too often, keynotes fall flat because they are overly technical, lack energy, or fail to connect the speaker's experience to the audience's reality.

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Due Diligence in Property Management: Avoiding Costly Litigation

4/30/2025

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"We follow standard procedures" is a common refrain in property management. But in an increasingly litigious environment, simply having procedures isn't enough.

The critical question is: are those procedures truly
diligent? In commercial property management, exercising proper due diligence is not just best practice; it's the most effective way to protect tenants, visitors, the asset itself, and ultimately, avoid costly and time-consuming litigation. Cutting corners, whether intentional or through oversight, can lead directly to the courtroom.

INSPIRE combines deep expertise in property operations and management best practices with experience in analyzing management failures in the context of litigation, giving us a unique perspective on how robust due diligence prevents legal battles.

What is "Due Diligence" in Property Management?

Due diligence in this context means acting reasonably, prudently, and proactively to fulfill your responsibilities as a manager or owner. It goes beyond simply collecting rent and involves actively identifying and mitigating potential risks. Key areas include:

  • Ensuring property safety and security.
  • Properly vetting and managing vendors.
  • Consistently and fairly enforcing lease terms.
  • Implementing and following sound maintenance protocols.
  • Maintaining accurate financial controls and records.
  • Adhering to all applicable laws and regulations (compliance).

Failure in any of these areas can constitute negligence and lead to liability.

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Expert Witness in CRE Litigation: Bridging the Gap Between Law and Real Estate

4/30/2025

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Commercial real estate litigation rarely hinges solely on points of law. More often, cases involve intricate operational details, complex financial calculations, nuanced market conditions, and established industry standards of care that fall outside the typical expertise of judges and juries.

Effectively presenting these technical CRE issues in a legal setting requires a specialized bridge between the worlds of law and real estate – the credible Commercial Real Estate Expert Witness.


INSPIRE, led by Marc Fischer, provides highly specialized expert witness services designed to equip attorneys with the objective analysis, clear explanations, and authoritative testimony needed to navigate complex CRE disputes successfully.

Our goal is to help uncover the truth on behalf of CRE litigants.

The Challenge: Complexity in CRE Disputes

Attorneys handling CRE cases face the challenge of explaining multifaceted issues to triers of fact who may lack industry background. Consider the technical nature of common disputes:

  • Valuation Disputes: Requiring understanding of various methodologies (income, sales comparison, cost) and market adjustments.
  • Property Management Standard of Care: Assessing whether a manager acted prudently regarding maintenance, safety, tenant relations, or financial handling.
  • Lease Interpretation: Analyzing complex clauses related to operating expenses, renewals, or use restrictions.
  • Market Conditions: Evaluating the impact of market trends on property value or leasing potential.
  • Construction Defects: Assessing management oversight, project management practices, and resulting damages.
  • Damage Calculations: Quantifying financial losses resulting from breaches or negligence.

Presenting these concepts clearly and persuasively requires more than just legal argument; it requires specialized industry knowledge.


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    ​Hi! I'm Marc

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    I am internationally recognized as an innovative and dynamic leader in the CRE industry. Since establishing INSPIRE ​in 2015, I have helped businesses excel amid unprecedented and historical changes by empowering teams to deliver exceptional service to clients and tenants and through a laser-like focus on optimizing asset value.

    In addition, as an accomplished author, a sought-after speaker, and a talented instructor, I thoroughly enjoy igniting a passion in others to become the best and brightest talent in CRE.

    View my profile on LinkedIn

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