In the News—Week of May 11, 2026
Deal of the Week
Thomas Title & Escrow is proud to highlight the successful closing of a commercial land acquisition in Grafton, Wisconsin, involving approximately 5.18 acres located at the northwest corner of Hunters Lane and Port Washington Road. The buyer, a Wisconsin-based investment entity, acquired them as part of the continued development of The Carillon at Grafton project. This transaction involved extensive coordination surrounding development-related title and escrow matters, including zoning verification, survey review, grading and drainage easements, construction-related documentation, and multiple land under development endorsements. The deal also included a large construction financing component with Associated Bank. Paige Garcia led escrow operations for the transaction, working closely with Account Executive Jake Wilson and the Title team to help navigate the complexities of the closing and maintain momentum throughout the process. We are proud of the collaboration and attention to detail demonstrated by everyone involved in bringing this transaction to a successful close. Congratulations to all parties involved!
National
More companies that relocate HQ choose Dallas-Forth Worth than any other area
The Dallas-Fort Worth metro area topped the nation in corporate headquarters relocations last year and is widening its lead over the longer term, WFAA reports. Figures from CBRE show the metroplex saw 11 net interstate or international HQ moves in 2025, ahead of Miami’s eight, and also added several moves within Texas. CBRE found Dallas-Fort Worth has landed more than 100 headquarters relocations since 2018, the most of any U.S. region tracked in its seven-year review of public relocation announcements. Companies are increasingly shifting within the same metro area to balance commute patterns, hybrid work needs and demand for more efficient office space.
National
Tax-break in Trump-backed law spurs more companies to buy own office space
A growing number of companies are choosing to buy their own office space as depressed building values and shifting post-hybrid needs make ownership more attractive, The Real Deal reports. A key catalyst is the One Big Beautiful Bill Act, which restores permanent 100% bonus depreciation for certain building components and equipment placed in service after Jan. 19, 2025, letting buyers take large deductions up front. Advisers caution the break is a tax deferral, not a free pass, because depreciation is effectively recaptured when the property is sold. Still, the upfront cash-flow boost is helping fuel demand for owner-user purchases of office condo suites, where buyers can control their footprint without becoming full-building landlords.
National
Los Angeles officials trying to spruce up aging convention facility before Olympics
Los Angeles officials are advancing a $2.6 billion overhaul of the aging Los Angeles Convention Center as part of a broader effort to ready downtown for the 2028 Olympics, the New York Post reports. The project, which broke ground in late 2025, is expected to be about 80% complete by the start of the Games, even though final construction is projected to run into 2029. Plans include linking the South and West halls over Pico Boulevard to create more than 750,000 square feet of contiguous space, along with new exhibit areas, upgraded meeting rooms and a signature glass “skynode” atrium. Supporters say the expansion could generate significant annual economic activity, create thousands of jobs and already has helped secure major conventions.
National
Seattle area office market sees major jump in net absorption in first quarter of 2026
The Seattle office market showed early signs of a rebound in Q1 2026, recording 356,000 square feet of positive net absorption, an improvement of 334,000 square feet from the previous quarter, Connect CRE reports. Figures from CBRE show that the Eastside outperformed other submarkets, helped by easing vacancy, tighter availability and demand for large blocks of space from tech and AI-related tenants. Vacancy across the region edged down to 28.3%, while overall availability dipped to 29.0%. Asking rents also inched higher, with average direct full-service gross rates reaching $47.10 per square foot per year. Analysts say the improving metrics are strengthening expectations for continued stabilization in Seattle and the Eastside.
Arizona
Developer buys former State Farm HQ, plans to turn it into industrial complex
Panattoni Development Company has purchased the former State Farm regional headquarters campus in Tempe, AZ Big Media reports. Panattoni paid $37.5 million to JDM Partners for the 25-acre site, which includes roughly 462,000 square feet of office space and two structured parking garages. Panattoni plans to redevelop the property into a two-building industrial complex called “Tempe Exchange” after receiving unanimous city council approval. The plan retains an 858-space covered parking structure and adds heavy power capacity aimed at advanced manufacturing. The site is near Interstate 10.
Arizona
Work resumes on long-stalled office-to-residential conversion
A long-stalled Phoenix project known as One Camelback is moving forward again after Kinella Capital, led by developer TK Stratton, took over and pushed the office-to-residential conversion into active construction, AZ Big Media reports. Work is progressing on a rooftop pool, clubhouse interiors, exterior site improvements and upgraded building systems, including fire-life-safety updates. The development team says the restart has involved redesigns and higher-end finishes rather than simply completing what was left undone. The project is targeting completion in Q4 2026.
