In the News—Week of January 12, 2026
Deal of the Week
Thomas Title & Escrow is proud to announce the successful closing of an industrial transaction for approximately $34mm at the Murphy Southwest Business Center in Stafford, Texas. The acquisition was completed by Hanson Capital Group, LLC, with PCRIF Murphy Southwest Business Center LLC serving as seller. The transaction was supported by financing from FirstBank and represented by Jones Lang LaSalle Americas, Inc., with legal counsel provided by Winstead PC. Escrow services were led by Bryan Selna with title services overseen by Eric Stewart. This complex commercial closing highlights continued investor demand for Texas industrial assets and showcases the Thomas Title & Escrow team’s ability to successfully execute sophisticated transactions across multiple jurisdictions.
National
A year after fire ravaged Pacific Palisades, most affected businesses remain closed
One year after devastating wildfires swept through Los Angeles neighborhoods including Pacific Palisades and Altadena, the majority of affected businesses remain closed, the Los Angeles Times reports. Businesses that have reopened are experiencing significantly reduced customer traffic and revenues around 50% of pre-fire levels. Over 1,800 small businesses in burn zones face an uncertain future as owners navigate insurance processes and cleanup costs with limited external support, as federal cleanup assistance excluded commercial properties. The historic Pacific Palisades Business Block, dating to 1924, now stands as a charred ruin with its future undecided between preservation as a memorial or demolition. Business leaders and developers are urging local officials to accelerate permitting and inspection processes to enable faster reconstruction.
National
Judge rejects Zohran Mamdani’s attempt to delay bankruptcy sale of apartments
A federal judge has rejected New York City Mayor Zohran Mamdani’s attempt to intervene in the sale of thousands of rent-stabilized apartments owned by Pinnacle Group, Fox Business reports. The mayor sought to slow the sale due to tenant concerns about poor maintenance and worries that the prospective buyer, Summit Properties USA, might have similar problems. Bankruptcy Judge David Jones denied the intervention request, marking an early legal setback for the new mayor’s housing agenda. The city’s deputy mayor for housing stated they will continue exploring options to ensure any new owner makes necessary repairs and respects rent stabilization regulations.
National
National office market remains sluggish; coworking space grows 16% year-over-year
The U.S. office market continued to face challenges, with the national vacancy rate at 18.5% in November, though this represented a slight improvement from the previous year CommercialCafe reports. While traditional office construction remained subdued at just 32 million square feet under development nationwide, coworking space expanded significantly, growing 16% year-over-year to account for over 2% of the market as companies embraced hybrid work models. Regional performance varied considerably, with Manhattan and Los Angeles showing relatively strong fundamentals. including low vacancy rates and active sales markets. Cities such as Seattle and San Francisco struggled with vacancy rates exceeding 25%. Despite concerns about AI-driven job losses in office sectors, recent surveys suggest that may not be the case.
National
Prominent tower enters foreclosure as downtown Dallas’ struggles continue
Dallas faces significant downtown challenges as The National, a landmark 52-story mixed-use tower, enters foreclosure with $230 million owed to lender Starwood Capital Group, the Daily Mail reports. Owner Shawn Todd cited unfavorable interest rates and declining property values after investing $460 million in the building’s historic renovation. This setback follows AT&T’s announcement to relocate 6,000 employees from downtown Dallas to Plano by 2028, raising concerns about the area’s economic future. The downtown district struggles with a 27% office vacancy rate — second highest nationally — homelessness, rising crime and aging infrastructure that have made the area less attractive to businesses and workers.
Arizona
Former Fiesta Inn shuts it doors after more than 50 years as Tempe landmark
The DoubleTree by Hilton Phoenix Tempe, originally known as the Fiesta Inn when it opened in 1975, closed early this month, the Tempe Tribune reports. The 14-acre resort, which featured Frank Lloyd Wright-inspired architecture and served as a cornerstone of Tempe’s tourism industry for five decades, employed 114 people and hosted countless community events over the years. City officials and business leaders expressed concern about the closure’s financial impact on Tempe’s tourism revenue and tax collections at a time when the city’s budget is already strained. Tempe leaders said they’ve not been briefed on any plans for the property.
Arizona
Chip-making giant TMSC pays $192.75M to add 900 acres to its footprint in Valley
Taiwan Semiconductor Manufacturing Company bought approximately 900 acres of land in north Phoenix for $197.25 million at a recent Arizona Land Department auction, AZ Big Media reports. The chipmaker’s Arizona operations are projected to reach $165 billion in total investment, encompassing six fabrication plants, two packaging facilities, and a research center across a 3-square-mile footprint. The land purchase will support TSMC’s plans to build an independent semiconductor manufacturing cluster capable of meeting growing demand for AI and high-performance computing chips. This expansion reinforces Arizona’s emergence as a critical node in the global semiconductor supply chain and is expected to reshape the region’s economic landscape for decades to come.
