In the News—Week of July 6, 2026

Thomas Title & Escrow is proud to highlight the successful closing of a $16.8 million commercial transaction involving the sale of a multi-parcel commercial property located in Marana, Arizona. The acquisition was financed by FirstBank, reflecting continued investor confidence in Southern Arizona’s expanding commercial market. The buyer, a Delaware-based investment partnership, acquired the property from, an Arizona-based real estate investment company. The transaction also incorporated a 1031 exchange component, requiring careful coordination between the buyer, seller, lender, exchange accommodator, attorneys, and brokerage teams throughout the closing process. The brokerage team included Jan Fincham of Lee & Associates – Phoenix, AZ, along with Ryan Bennett and Drew Olson of Lee & Associates – North County San Diego. With multiple stakeholders involved across several states, this transaction demanded exceptional communication, attention to detail, and seamless execution from contract through funding and recording. The collaborative efforts of all parties ensured a successful and timely closing while navigating the complexities associated with commercial financing and exchange requirements. Congratulations to Joel Montemayor, Escrow Officer, and Kylie Cook, Director of Commercial Services, on another outstanding commercial closing. At Thomas Title & Escrow, we take pride in delivering trusted title and escrow services for complex commercial transactions across Arizona and beyond. Congratulations to everyone involved on another successful closing.

Vacancy rates rise among rent-controlled apartments in New York City, data shows

State data shows a growing share of New York City’s rent-stabilized apartments are sitting empty even as the city faces a severe housing shortage, the New York Post reports. Landlords reported about 57,000 stabilized units vacant in 2025 — roughly a 5.6% vacancy rate — up from 3.7% a decade earlier, with pandemic-era disruption cited as one possible factor. Housing analysts and industry representatives disagree on the main cause, with some pointing to court backlogs and others arguing renovations have become financially unattractive under rent limits and tighter rules on raising rents after turnover. Owners and managers say costly repairs — sometimes tens of thousands of dollars — can be hard to justify when rents are low and increases are capped, leaving some apartments off the market longer.

Texas Wesleyan University hires firm to lease storefronts near its campus

Texas Wesleyan University has selected Fort Worth-based League Commercial to lease more than 6,000 square feet of retail space along East Rosedale Street, Fort Worth Inc. reports. The university says the effort is intended to fill long-vacant storefronts near campus. The initiative comes alongside Texas Wesleyan’s continued campus investment, including construction of Karen Cramer Stadium, expected enrollment growth and a possible move into NCAA Division II athletics.

Los Angeles City Council give OK for $2 billion mixed-use project near Skid Row

Los Angeles City Council has approved Fourth & Central, a roughly $2 billion mixed-use development planned for a 7.6-acre area on the edge of Skid Row near the Arts District, Los Angeles Magazine reports. The project would replace existing cold-storage facilities and parking lots with 10 buildings, including a 30-story tower and more than 1,500 homes — 572 condos, 949 apartments and at least 260 designated low-income units. Community groups raised concerns about gentrification, but the Little Tokyo Community Council later reached a community benefits agreement that includes discounted retail space for local-serving businesses and nonprofits, with construction expected to begin in about two years.