In the News—Week of January 19, 2026

Thomas Title & Escrow is pleased to announce the successful closing of a $6,625,000 multifamily transaction located in Phoenix, Arizona. The property, situated in the East Phoenix/Papago area, was acquired by Papago View Apartment LLC from AZ Papago LLC as part of an investment portfolio expansion. The transaction was expertly handled by Escrow Officer Bryan Selna with support from his escrow team and Title Officer Teri Guevara, alongside Business Development Officer Kylie Cook. The deal also included representation by Jackson Everhart Orion Investment Real Estate This closing underscores our team’s continued commitment to delivering seamless, efficient service on complex commercial transactions throughout Arizona.

NYC, Phoenix and Dallas forecast to add the most hotel rooms in 2026

New York City and Phoenix are expected to lead the United States in hotel room openings during 2026, CoStar reports. New York City is expected to add 4,852 room this year. Phoenix is expected to add 3,650 rooms, edging out Dallas (3,558 rooms). Orlando (1,988 rooms) and Miami (1,954 rooms) come in fourth and fifth in CoStar’s forecast. Overall, the U.S. hotel industry anticipates opening 891 hotels totaling 99,011 rooms in 2026, marking a return to pre-pandemic development levels after slower growth in recent years. This expansion reflects strong occupancy rates and growing demand, particularly in New York City, which has led the nation in occupancy for three consecutive years.

Mayor warns Illinois lawmakers state in danger of losing NFL team to Indiana

Arlington Heights Mayor Jim Tinaglia is urging Illinois legislators to pass a bill that would enable a $5 billion stadium development for the NFL’s Chicago Bears, warning that the team could relocate to Indiana without it, The Real Deal reports. The proposed legislation would allow the Bears to negotiate long-term property tax agreements through a payment-in-lieu-of-taxes, or PILOT structure. Such an arrangement would allow the pro football team and local governments to work out payments in advance instead of rates and rules that change over time. The team would have more cost certainty. Meanwhile, Indiana has introduced Senate Bill 27 to create a stadium authority and is actively courting the Bears, with the city of Gary offering potential stadium sites. Illinois officials also are debating how to handle the remaining $534 million debt from Soldier Field’s previous renovation, though Gov. JB Pritzker suggests this isn’t the main barrier to a potential Bears move.

Downtown Seattle’s office vacancy rate rises to 34.7% despite high-profile leases

Seattle’s downtown office vacancy rate reached a record in the last quarter of 2025, continuing a post-pandemic trend despite some new tech company leases, Geek Wire reports. Figures from CBRE show a 34.7% vacancy rate. While such firms as Impinj, DAT Solutions and Docker have recently signed leases, the overall market continues to struggle due to hybrid work policies, tech layoffs and AI-driven workforce reductions. The Eastside market shows more promise. Microsoft and Amazon expanded their presence in Redmond and Bellevue, attracting other companies. However, CBRE’s figures showed downtown Bellevue’s vacancy increased to 25.4%, suggesting the regional office market faces ongoing challenges in the near term.