In the News—Week of March 9, 2026
Deal of the Week
Thomas Title & Escrow successfully closed the $4,750,000 sale of Green Acres RV Resort located in Mesa, Arizona. The property was acquired by Mobile Communities AZ 2052, LLC, an Arizona-based entity affiliated with Perroy Properties, from Green Acres Community AZ, LLC, a Delaware entity managed by Roots Management Group. The deal was expertly managed by Senior Commercial Escrow Officer Joel Montemayor, with assistance from Vickie Montemayor and Rebeca Carrizo, business development led by Kylie Cook, and title services provided by Teri Guevara. Congratulations to all parties involved on a successful closing!
National
New life? Panel approves separate building for events at mansion said to be haunted
Staten Island’s Kreischer Mansion, a well-known Victorian landmark with a long-running haunted reputation, has received approval for a new, separate event building in its backyard, Hoodline reports. The city’s Landmarks Preservation Commission signed off on plans to place the structure behind the protected house while keeping the historic mansion itself unchanged. The property has drawn repeated redevelopment proposals over the years, from housing concepts to other large projects, many of which stalled after review and revisions. The commission’s decision is an important step, but the owner still needs permits and plan review from the Department of Buildings and may face additional local review before any construction can begin.
National
George Washington University sells satellite campus in Virginia to Amazon
George Washington University has agreed to sell its Virginia Science and Technology campus to Amazon Data Services in a deal valued at close to $500 million, Fox 5 DC reports. The property is expected to be redeveloped into a major Amazon data center and AI-focused hub, though Amazon has not publicly confirmed specific plans yet. University leaders say the sale will help address a $24 million budget shortfall while keeping GW programs on the site for up to five years and directing proceeds toward teaching, research and some staff bonuses. Nearby residents are pushing back, saying data centers are replacing community needs and could stress the power grid and increase electricity costs. Supporters argue the facilities bring jobs and investment, reflecting Northern Virginia’s growing role in the AI economy.
National
Chicago planning department OKs mixed-use tower to replace parking garage
DL3 Realty has been picked by Chicago’s planning department to redevelop a city-owned parking garage and alley in The Loop with a 25-story, mixed-use tower, Block Club Chicago reports. The roughly $162.2 million project would add 300 mixed-income apartments, with 20% set aside as affordable housing under the city’s requirements. Plans also include ground-floor retail, restaurant and coworking space, plus $1.5 million in upgrades to nearby Pritzker Park such as improved lighting, public art and a performance area. Despite the large number of homes, the proposal calls for only 60 parking spaces, citing the site’s immediate access to CTA trains and a newer policy that removed parking minimums near transit. With support from Alderman Lamont Robinson, the development is expected to move through the City Council zoning and approval process.
National
Rapper Grizzley behind proposal to build apartments in Detroit’s Brush Park area
A mixed-use, mixed-income apartment proposal in Detroit’s Brush Park would add 37 housing units as part of a roughly $12 million development called Wallace Estates, The Detroit News reports. The project is owned by rapper Tee Grizzley (real name: Terry Wallace) and will need approval from the Detroit Historic District Commission because the site is within a historic district. Plans call for a five-story building with apartments on the first four floors, retail and parking at street level, and indoor and outdoor resident amenities on a partial fifth floor. Developers say the unit mix will mostly be studios and one-bedrooms, with about 20% set aside as affordable at 80% of area median income, and monthly rents estimated from about $1,800 to $2,700. If approvals and incentives come through, construction could start this summer and wrap about 18 months later.
Arizona
Searches for apartments to rent surge in Tempe and Scottsdale, sag in Phoenix
Interest in renting an apartment in Tempe has increased greatly, AZ Big Media reports. Based on apartment searches on RentCafe, Tempe climbed 78 places nationally to No. 36 from last year and is now No. 1 in Arizona. Scottsdale also gained ground, moving up 32 spots to No. 37 nationally. Phoenix moved the other direction, dropping 43 spots to No. 120. Nationally, Cincinnati leads renter demand. The Midwest fills a large share of the top 30 cities, and fast climbers include El Paso, Atlanta and Minneapolis.
Arizona
Industrial vacancy rate in Valley of the Sun falls to 9.7% as average rents increase
Greater Phoenix’s industrial vacancy rate edged down to 9.7% by the end of 2025, helped by fewer projects coming online and steady tenant demand, AZ Big media reports. Figures from Colliers show the market recorded three straight quarters of improving vacancy, with less direct vacant space and slightly lower sublease availability than the prior quarter. Leasing activity stayed strong, highlighted by 18.2 million square feet of net absorption in 2025. Amazon was among the most active users late in the year. Construction and deliveries slowed sharply. Average rents ticked up to about $1.14 per square foot. Investor interest remained high as quarterly sales topped $1 billion again, and the region’s growth story is broadening beyond logistics into advanced manufacturing and tech.
