In the News—Week of August 3, 2026
Deal of the Week
Thomas Title & Escrow is proud to highlight the successful closing of a $45.8 million commercial refinance for Scottsdale Towne Center, a premier retail property located in Scottsdale, Arizona. This sophisticated financing transaction reinforces the continued strength of Arizona’s retail investment market and demonstrates the confidence institutional lenders have in high-quality commercial assets. The transaction required extensive coordination among the borrower, lenders, legal counsel, title, and escrow teams to ensure a smooth and timely closing. Congratulations to Escrow Officer Joel Montemayor and Director of Commercial Services Kylie Cook and Business Development Officer Emma Chester for their exceptional work managing this complex commercial refinance. We also extend our appreciation to CBRE, Clark Hill, Allianz Life Insurance Company of North America, JPMorgan Investment Management, and all parties involved for their collaboration throughout the transaction. At Thomas Title & Escrow, we are proud to support complex commercial real estate transactions by delivering responsive service, industry expertise, and seamless execution from opening through closing. Congratulations to everyone involved on another outstanding success!
National
New York City investment sales rise by 60% year-over-year
New York City’s investment sales market showed strong momentum in the first half of 2026, with activity across four boroughs (excluding Staten Island) climbing 60% year-over-year, The Real Deal reports. Figures from Avison Young show second-quarter activity slipped 10% from the first quarter; the city is on pace for roughly $22.87 billion in annual sales, nearing its 10-year average. Manhattan’s office sector was a major driver, posting $1.51 billion in second-quarter sales and $3.3 billion for the first half — a 110% jump from last year — fueled by big-ticket deals including Extell Development’s $451 million purchase of 405 Park Ave. and Sovereign Partners’ $378 million acquisition of 575 Fifth Ave. Development-site sales also picked up, with 13 deals totaling $707 million in the second quarter alone.
National
Panera Bread to relocate headquarters from St. Louis to Boston area next summer
Panera Bread is relocating its corporate headquarters from St. Louis to Weston, Massachusetts, in the Boston area, Restaurant Dive reports. The new headquarters is set to open in July 2027 and is part of the company’s broader turnaround strategy aimed at driving growth through improved collaboration and faster decision-making. While Panera will keep a support center in St. Louis, many roles based there or working remotely will shift to the new Massachusetts location, a change CEO Paul Carbone acknowledged would carry personal and professional impact for affected employees. The move follows a wave of similar headquarters relocations and expansions across the restaurant industry, with chains like Starbucks, In-N-Out, Shake Shack and KFC all making comparable moves in recent years.
National
OpenAI in talks with Nvidia to provide funds to help build data center in Ohio
OpenAI is reportedly in talks with Nvidia over a financial backstop worth up to $250 billion to support its plans for a massive new AI data center in Pike County, Ohio, CNBC reports. The arrangement would allow OpenAI to raise debt for the 10-gigawatt campus using Nvidia’s credit strength, with the guarantee covering lease and construction costs rather than the chips themselves, which are being negotiated separately. The Ohio site, a former uranium enrichment facility, could ultimately support a project costing more than $500 billion and is being developed by SoftBank and SB Energy alongside the U.S. Department of Energy.
National
DFW International Airport moves to buy fourth hotel on its grounds
DFW International Airport is moving closer to full ownership of the four hotels on its grounds as part of a broader overhaul of the facility, the Dallas Business Journal reports via WFAA. On July 29, the airport’s Public Facility Improvement Corp. board unanimously backed a plan to acquire the Hyatt Regency DFW International Airport near Terminal C, currently held by private owner Woodlake HRDFW Hotel Owner LLC. The proposed purchase, valued at as much as $193.65 million for the hotel and its leasehold rights, would keep Hyatt on as the property’s manager. Before it can close, the deal still needs sign-off from the airport’s full board on Aug. 6, followed by approval from Dallas and Fort Worth, the cities that jointly own the airport.
Arizona
Office conversions drive vacancy rate down in Valley for third quarter in row
Metro Phoenix’s office vacancy rate fell for a third consecutive quarter, AZ Big Media reports. Figures from Newmark’s second-quarter of 2026 survey show the region posted 167,319 square feet of positive net absorption. Overall vacancy slipped to 23.4%, helped in part by older buildings being converted to other uses. Trophy and Class A properties in areas such as north Scottsdale and north Tempe continue to attract demand, even as leasing remains cautious and many companies seek smaller, more flexible footprints. With speculative construction largely paused, landlords are leaning on concessions rather than steep rent cuts, while investors pursue redevelopment and adaptive-reuse opportunities.
Arizona
Center Court Pickleball Club opens facility near Shea Boulevard and 101
Center Court Pickleball Club has opened its fourth Phoenix-area facility, AZ Big Media reports. The new location is a 35,000-square-foot facility near Shea Boulevard and Loop 101 in Scottsdale that debuted July 10. The new club has 13 courts and houses the company’s headquarters and a training center. The company has 51 indoor courts at sites in Scottsdale, Glendale and Gilbert. Built from a former retail center over roughly seven months, the facility includes acoustic treatments, glare-reducing lighting, locker rooms with showers and a complimentary recovery program using Power Plate equipment for warm-ups and post-match recovery.
