As billions in CRE assets prepare to change hands, advisors who understand portfolio transition strategies stand to gain.
A succession planning gap is opening inside one of the most significant wealth transfer cycles in American history, creating an opportunity for financial advisors.
Amid the much-talked-about Great Wealth Transfer of $124 trillion over the next 20 years or so, including around $100 trillion from Boomers and older generations to heirs and charities, a significant chunk is held in commercial properties that have never been part of a formal transition plan.
According to MSCI data analyzed by Colliers International, US commercial real estate investment volume reached $113.7 billion in the second quarter of 2026, up 9% year over year, marking the third consecutive quarter of near- or double-digit gains as the sector continues its recovery from the 2023–2024 lows. Industrial assets led the charge, with transaction volume up 27% year over year, while retail followed at 13% growth.
But even as transaction activity rebounds, a growing number of long-term property owners — many of them aging out of active management — have no plan for what happens next.
Chase Mayhugh, president and CEO of Mayhugh Commercial Advisors in Fort Myers, Florida, says succession planning has become the most overlooked risk facing commercial property owners today. His firm, which has completed more than 3,000 transactions representing over $2.2 billion in volume since its founding in 1975, has spent the past two years expanding its advisory platform to address the transition challenge directly.
“Many families have spent decades building extraordinary commercial real estate portfolios,” Mayhugh said. “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 a stock portfolio, a commercial real estate holding rarely transfers cleanly. It typically involves multiple legal entities, financing structures, tax considerations, active management responsibilities, and family dynamics that can fracture quickly when an owner steps back without a coordinated plan in place.
“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.”
What this means for advisors
Clients with significant commercial real estate holdings require a fundamentally different planning conversation that intersects tax strategy, estate law, asset management, and portfolio construction in ways that go well beyond standard investment planning.
Commercial property owner clients often work with accountants and attorneys on transactional matters but lack a coordinating advisor who can bring the full picture together, covering portfolio strategy, financing, capital improvement cycles, and multi-generational continuity planning.
Mayhugh describes the model his firm has built around three pillars: strategy, which covers portfolio evaluation and long-term investment decisions; execution, which coordinates financing, leasing, tax planning, and operational improvements; and continuity, which involves working alongside attorneys, CPAs, and family members to preserve wealth across generations.
“We’re not replacing attorneys or accountants,” Mayhugh said. “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.”
The market backdrop: assets in motion
MSCI figures for Q2 2026 compiled by Steig Seaward, senior national director of research at Colliers International, show that entity-level transactions reemerged in the quarter, with three notable take-private deals (Veris Residential, ECHO Realty, and Peakstone Realty Trust) signaling that institutional capital is actively repositioning.
Pricing remains mixed across sectors: the all-property index rose just 0.9% in Q2 2026, with industrial pricing turning modestly negative and multifamily under sustained pressure, down 1.7% year over year.
The divergence between sector-level pricing and transaction volume growth is itself a planning variable. Industrial remains among the most liquid sectors in the market, while garden-apartment multifamily is softening — details that matter when helping a client evaluate whether to hold, restructure, or begin a generational transfer.
Mayhugh believes the succession conversation will define commercial real estate advisory work for the next decade.
“The question isn’t whether ownership will change,” he said. “It’s whether families will be prepared when it does.”
