In the News—Week of May 18, 2026
Deal of the Week
Thomas Title & Escrow is proud to highlight the successful closing of an $8.5 million industrial commercial transaction located in Yuma, Arizona. The buyer, Tetrix RE LLC, an Arizona-based investment group headquartered in Scottsdale, acquired the property from Bose Corporation as part of its continued industrial investment strategy throughout the Southwest. This transaction required extensive coordination between the buyer, seller, lender, attorneys, and brokerage teams across multiple states. Financing was provided by Busey Bank, with brokerage representation from Rob Stephens, and Chase Gabriel at Newmark and Keri Davies at LevRose Commercial Real Estate. Our team worked diligently through multiple title updates, lender coordination, endorsement review, and commercial escrow administration to help keep the transaction moving efficiently toward closing. Special recognition goes to Scott Tatum, Kylie Cook, Joel Montemayor from our Escrow Team, as well as our Title team for their collaboration and commitment throughout the process. At Thomas Title & Escrow, we are proud to support complex commercial transactions with the responsiveness, expertise, and attention to detail our clients rely on.
National
New York City receives about half of revenue it receives from real estate taxes
New York City collected a record $39.6 billion in real estate taxes in fiscal 2025, representing nearly half of all locally generated tax revenue, with about 90% coming from the Real Property Tax, Propmodo reports. A new annual report from the Real Estate Board of New York says commercial properties, including multifamily buildings, offices, retail, hotels and industrial sites, generated roughly 77% of property tax payments. The group argued the figures underscore how heavily the city’s finances rely on real estate as officials debate a proposed $127 billion fiscal 2027 budget. The report also landed amid renewed political scrutiny of high-profile luxury purchases and major development plans, which the organization said should be viewed alongside the sector’s overall tax contribution.
National
Commercial space industry accelerates in Texas, Federal Reserve analysis shows
Texas’ commercial space industry is accelerating, building on its long aerospace history while shifting toward a private-sector-led model, Forth Worth Inc. reports. An analysis from the Federal Reserve Bank of Dallas says the state has attracted major firms, including SpaceX, Blue Origin, Firefly Aerospace, Axiom Space and Intuitive Machines, supported by NASA’s Johnson Space Center, engineering talent, geography and a relatively light regulatory environment. Texas accounts for a modest share of U.S. launches, and the pure space workforce remains small. Recent developments, such as SpaceX’s expanded Texas presence, are boosting the state’s visibility in global launch activity. Public funding has also returned, with the Texas Space Commission revived and backed by significant investment.
National
More Southern California companies buying buildings rather than leasing
A growing number of mid-sized and large companies in Southern California are buying the office and industrial buildings they occupy, the Los Angeles Times reports. Brokers say the shift shows the market is finding its footing as prices reset and investor demand softens. One recent example is State Compensation Insurance Fund’s purchase of a Class A office property in Pasadena, which it plans to partly occupy while leasing the remaining space and investing in upgrades such as amenities and meeting areas. Brokers say similar owner-user moves in downtown Los Angeles suggest buyers see long-term value returning, especially when tenants choose ownership over renewal. In the industrial sector, post-pandemic rent increases are pushing some tenants to purchase facilities at lease expiration, even as certain fast-growing industries continue to expand through leasing across the region.
National
San Francisco’s Union Square begins to show signs of recovery, officials say
San Francisco officials and commercial real estate leaders say Union Square is showing renewed momentum as retail vacancies fall and more tenants tour available storefronts, KGO-TV reports. Leasing prices have dropped in some cases, and several major brands are relocating within the district as interest picks up. Mayor Daniel Lurie announced a Downtown Business Fund to help smaller businesses open downtown, while the city also advances a Powell Street corridor project expected to cost tens of millions. Still, leaders warned the recovery is uneven, with office vacancies remaining far higher than before the pandemic and the broader rebound described as fragile.
Arizona
Tech manufacturing keeps Valley industrial market in high gear
Greater Phoenix’s “Silicon Desert” manufacturing sector is reshaping the industrial real estate market, with demand for modern, power-hungry facilities keeping leasing momentum alive even as a wave of new supply works through the system, AZ Big Media reports. Brokers say 2025 brought signs of stabilization, as vacancy edged down from early-year highs while absorption remained historically strong, and early 2026 activity continued that trend with more space being taken off the market. The region’s big-box inventory has tightened dramatically, pushing interest toward a mix of large-footprint logistics buildings and a rebounding mid-bay segment after tariff and financing worries sidelined some tenants last year. Tenants want buildings with more electrical capacity and better infrastructure.
Arizona
Rosendin Electric buys building in Chandler to house regional headquarters
Rosendin Electric, a large employee-owned electrical contractor, has purchased Allred Park Place Building 4 in Chandler to establish a Mountain West regional headquarters, AZ Big Media reports. A 100,622-square-foot, two-story facility near Loop 101 and Loop 202, the regional headquarters is expected to bring together regional leadership, operations and corporate teams. Company and property representatives say the move is designed to support continued growth in the Phoenix metro area and strengthen collaboration by consolidating teams in one location. Plans for the campus include a training center and a dedicated space for innovation efforts.
