In the News—Week of July 20, 2026

This week’s featured transaction showcases the successful closing of a $7.1 million commercial refinance, secured by a waterfront commercial property located in Sarasota, Florida. The refinance was completed with Centennial Bank and facilitated through Largo Capital, Inc., reflecting continued lender confidence in high-quality coastal commercial assets. The transaction involved refinancing an existing commercial property in Sarasota, providing the borrower with long-term financing while positioning the asset for continued success. Coordinating a commercial refinance of this size required careful collaboration among the lender, borrower, legal counsel, title professionals, and escrow team to ensure a seamless closing.

A special congratulations goes to Escrow Officer Paige Garcia and Business Development Officer Jake Wilson for their leadership throughout the transaction. Their attention to detail, proactive communication, and coordination with the lending team were instrumental in bringing this refinance to a successful close. Congratulations to everyone involved on another successful commercial closing. At Thomas Title & Escrow, we’re proud to partner with clients and lenders nationwide to deliver smooth, dependable commercial title and escrow services on transactions of every size.

The priciest in US: Miami asking rents for office space now higher than in NYC

Miami has overtaken New York as the priciest U.S. office market, with average asking rents, allwork.space reports. Figures from a LoopNet survey show asking rents in Miami climbed to about $59.66 per square foot, according to a survey of 50 cities. The jump is being driven by intense demand for newly built “trophy” offices in neighborhoods such as Brickell, Downtown and Coconut Grove, where limited supply is supporting top-tier pricing. Since 2020, the city has drawn an influx of hedge funds, law firms and other finance-related tenants seeking premium space with high-end amenities and prestige addresses. While newer buildings are thriving, older office properties are facing a tougher leasing environment, underscoring a widening split within the market.

United Talent Agency consolidates NYC operations in the Empire State Building

United Talent Agency, whose clients include NBA star LeBron James, is expanding its New York footprint with a new lease at the Empire State Building, the New York Post reports. UTA is taking roughly 100,948 square feet across floors 32 through 35. The move consolidates the Los Angeles-based firm’s Manhattan operations from three separate locations totaling about 81,000 square feet. A person familiar with the deal says the asking rent was about $96 per square foot, and the new office will house multiple divisions ranging from film and music to sports and brand advisory. The agreement adds to a string of high-profile leases at the landmark, which its owner says has benefited from major investment in recent years.

Warehouse on site of former Chrysler Stamping plant in Ohio sells for $34M

A newly built industrial warehouse on the site of a former auto plant in Northeast Ohio sold for just over $34 million, Hoodline reports. The deal highlights continued strong demand for modern logistics space in the region. The fully leased, multi-tenant facility in Twinsburg’s Cornerstone Business Park spans about 280,614 square feet and was completed in 2022. The site sits on redeveloped land once occupied by a Chrysler stamping plant, which was demolished and cleaned up to make way for new industrial users. The transaction works out to roughly $121 per square foot. The deal adds to a recent run of large Cleveland-area warehouse sales as investors compete for stabilized, highway-accessible distribution properties.