In the News—Week of April 6, 2026
Deal of the Week
Thomas Title & Escrow successfully closed a commercial sale for the property located at 1915 McCulloch Boulevard in Lake Havasu City, Arizona, totaling $1.86 million.
The asset was acquired by Southern Arizona Realty Holdings LLC as part of their continued investment strategy. Business development was led by Justin Wine and Scott Tatum. The transaction included financing through Arizona Financial Credit Union and required coordination with a qualified intermediary, highlighting our team’s ability to navigate more complex commercial deals. This closing reflects continued demand for well-positioned commercial assets in Lake Havasu City and showcases our team’s commitment to delivering seamless results for our clients.
National
Industrial rents remain high as retailers make regional distribution top priority
Big retailers are redesigning fulfillment around regional distribution networks, store-based shipping and gig-driver last mile delivery as speed becomes the primary consideration, Commercial Cafe reports. Figures from the latest survey show rent growth holding up in several major markets, even as vacancy has climbed and higher energy costs could temper expansion plans later this year. Development remains concentrated in Texas, with Dallas and Houston among the busiest construction hubs as the national pipeline levels off. Phoenix has emerged as the standout in the West, maintaining one of the country’s largest construction pipelines near 20 million square feet. Investors, meanwhile, are increasingly favoring high-growth markets over traditional core centers such as Chicago, which continues to see comparatively slower deal volume.
National
Fort Worth puts off decision on tax break for data center after residents push back
Fort Worth’s City Council delayed a vote on tax incentives for a proposed $1.1 billion data center campus after residents raised concerns and leaders said clearer rules are needed, The Real Deal reports. The developer, Edged U.S., an Endeavour Energy subsidiary, is seeking a 10-year abatement worth an estimated $18.2 million for half of certain business property taxes. Supporters said the agreement could give the city leverage to enforce higher standards, while opponents pointed to noise and other long-term impacts. The vote was tabled until May 12, with potential new requirements like tighter noise compliance and annual reporting. Officials say the project could bring about $34.9 million in city revenue over 10 years and jobs. The facility will have waterless cooling to reduce environmental concerns.
National
NYC predicted to see conversions from office to apartments double in 2026
New York City is projected to see a sharp jump in office-to-apartment projects this year, with planned conversions nearly doubling from last year’s total, the New York Post reports. One highlighted example is the Candler Building near Times Square, which is slated to be remade into 176 apartments after securing major construction financing. New York far outpaces other U.S. cities in the conversion pipeline, with most projects concentrated in Manhattan. Supporters argue the trend adds housing while reducing outdated office inventory, and they credit rule changes and a smoother approval process for accelerating the shift. Several other large buildings across Midtown and downtown are also moving forward with residential plans.
National
Boston area neighborhood finally sees redevelopment of shuttered supermarket
After nearly two decades as a boarded-up reminder of what used to be, the shuttered Star Market in Somerville near Boston is finally coming back to life, Hoodline reports. The old supermarket was torn down late last year, with residents showing up for a “demolition party.” Crews are now doing site work for two six-story buildings that developers say will bring roughly 319 apartments, ground-floor retail and new public space. Neighbors and city leaders have been calling the project a long-overdue fix for a prime parcel that sat vacant for years after the grocery store closed.
Arizona
Oral arguments scheduled for one Axon suit while company fights pause in another
Two related lawsuits are challenging Scottsdale’s agreement and state legislation that clear the way for Axon’s planned mixed-use “international headquarters campus” in north Scottsdale, The East Valley Tribune reports. One case attacks Senate Bill 1543 as an unconstitutional, tailor-made measure that blocks a local referendum, while the other targets the city–Axon memorandum of understanding as an improper end-run around zoning procedures. Oral arguments in the SB1543 lawsuit are scheduled for April 10, and the judge is expected to rule within about 60 days, potentially before Scottsdale’s July primary election. Meanwhile, the second case is entangled in deadline disputes, with the city seeking a pause pending the first ruling, Taxpayers Against Awful Apartment Zoning Exemptions agreeing, and Axon opposing as it presses a motion to dismiss.
Arizona
Developer finishes building industrial, mixed-use project in the West Valley
Phoenix-based developer Creation has finished building Park Algodon, a large industrial and mixed-use project near Loop 101 and Indian School Road in Phoenix, AZ Big Media reports. The development spans roughly 86 acres, with about 1.3 million square feet of modern industrial space plus a 7-acre area planned for retail and restaurants. The industrial component was developed with Clarion Partners and includes four buildings in its first two phases, with another major building already approved for a future phase. Separately, Creation delivered The Shops at Park Algodon, adding more than 14,000 square feet for dining and retail, with early tenants such as Einstein Bros. Bagels, Chipotle and Luna Grill expected to open soon. Leasing and construction teams are in place, and the company says the project is intended to serve both employees and nearby residents.
