In the News—Week of January 26, 2026
Deal of the Week
Thomas Title & Escrow recently closed a $8.1 million commercial refinance for MPC Camelback AZ, LLC, a Texas-based investor, involving a multi-parcel commercial property located along North 7th Avenue in Phoenix’s North Central/Camelback Corridor submarket. The transaction was part of the borrower’s ongoing portfolio strategy and highlights continued investment activity in one of Phoenix’s most established commercial corridors. The Thomas Title & Escrow commercial team worked closely with Frost Bank and Stewart Title Guaranty Company to successfully coordinate title review, underwriting requirements, and closing support, ensuring a smooth and timely transaction for all parties involved.
National
Boston will stop adding assessed values to properties whose owners filed appeals
Boston City Hall has agreed to discontinue a controversial practice of increasing assessed values and taxes on commercial properties whose owners filed tax appeals, the Boston Herald reports. The Pioneer New England Legal Foundation accused the city of retaliatory and unlawful overtaxation before filing a class-action lawsuit in December 2025 on behalf of affected property owners. While the city’s corporation counsel confirmed in an email that the assessing department would stop this practice going forward, Mayor Michelle Wu’s office has publicly denied wrongdoing and maintains the city fairly taxes commercial properties.
National
Transamerica Pyramid in SF lands lease for $300 per square foot, a likely record
A tenant has leased approximately 4,000 square feet on the 44th floor of San Francisco’s Transamerica Pyramid at a rate reportedly exceeding $300 per square foot, which may represent a West Coast record, Hoodline reports. This deal is part of three upper-floor leases totaling about 25,000 square feet, arranged as the building reaches 85% occupancy following extensive renovations. The premium pricing reflects a broader “flight to quality” trend where companies prioritize newly upgraded, amenity-rich spaces over larger but older offices, even as San Francisco’s overall office vacancy remains high. Industry observers are watching to see if competing landlords can achieve similar rates and whether this signals a sustained recovery for San Francisco’s downtown office market.
National
Google moves into Sail Tower in downtown of Texas’ capital city
Google has officially occupied Austin’s Sail Tower approximately 10 months after announcing plans to move in by late 2025, the Texas Real Estate Research Center reports. The tech giant already maintains a significant presence in the area, with additional leases at the Saltillo mixed-use development in East Austin and substantial space in the neighboring tower. The Sail Tower spans 804,000 square feet and is situated in downtown Austin’s Central Business District. At the end of 2019, trophy properties in this district commanded average rental rates of $67.39 per square foot, according to Avison Young.
National
Quirky art gallery building in NYC’s Bowery goes on market for first time
The historic 257 Bowery building, designed by renowned architect Norman Foster and opened in 2010, is now on the market for the first time, the New York Post reports. This distinctive nine-story structure, which previously housed the Sperone Westwater gallery, spans approximately 20,000 square feet and features a unique elevator system that functions as a movable floor for events. The property is expected to sell for over $30 million and represents the only boutique-scale Foster design in New York City. Potential buyers could transform the space into a gallery, private museum, family office or other specialized uses that take advantage of its architectural significance.
Arizona
National construction company to use former Fiesta Inn as a training center
McCarthy Building Companies has acquired the former DoubleTree by Hilton Hotel in Tempe to establish a national training center focused on employee development and leadership programs, Independent newspapers reports. The facility will attract thousands of McCarthy employees annually for training sessions, generating significant economic benefits for the local community. The company plans to revitalize the 12-acre campus over the next 18-24 months while preserving its Frank Lloyd Wright inspired architecture and decor. This acquisition expands McCarthy’s Arizona footprint, complementing their existing Innovation and Craft Workforce Center in Chandler and Southwest Regional Headquarters in Phoenix. The hotel, which opened in 1975 and operated for decades as the Fiesta Inn, closed early in January.
Arizona
Strive Pharmacy begins construction on 350,00o-square-foot HQ in Mesa
Strive Pharmacy broke ground recently on a 350,000-square-foot headquarters and advanced compounding facility in Mesa, the Mesa Tribune reports. Strive says the project will create 500 jobs in the region. Founded in Gilbert in 2018, the company is expanding its national footprint to over 700,000 square feet of pharmaceutical facilities, including locations in Florida, California and other states, positioning itself as the largest compounding pharmacy network in the United States. The new Mesa campus will feature state-of-the-art compounding spaces, fulfillment automation and training facilities.
