In the News—Week of November 17, 2025
Deal of the Week
Thomas Title & Escrow is proud to announce the successful closing of a $14.54 million commercial sale involving Lots 2 and 4 of Silverstone Marketplace in Frederick, Colorado. The property, located within a growing retail and mixed-use corridor in Weld County, continues to attract significant investment activity due to its strong visibility, expanding population base, and strategic positioning along major regional routes.
Emma Chester, Business Development Officer, facilitated the transaction with the support of Senior Commercial Escrow Officer Joel Montemayor, assisted by Vickie Montemayor and Rebeca Carrizo. Eric Stewart, Director of National Title Services, ensured a smooth and timely closing from start to finish.
Congratulations to everyone involved in another seamless and successful closing within Colorado’s dynamic commercial real estate market.
National
Two top New York City CRE execs say fears about Mamdani are overblown
Leading NYC real estate executives Scott Rechler and Bill Rudin say that fears of a corporate exodus following Mayor-elect Zohran Mamdani’s election are unfounded, VIN News reports. Rechler, CEO of RXR Realty, and Rudin, co-executive chairman of Rudin Management, predict office leasing activity will remain strong through 2032. Major developments continue to move forward, including Citadel’s 2-million-square-foot project at 350 Park Ave. and RXR’s recent large-scale lease agreement. While some overseas investors have expressed concerns about Mamdani’s progressive housing policies, both executives emphasize the city’s solid fundamentals and the mayor-elect’s willingness to collaborate with the private sector.
National
Downtown Miami parcel that received OK for 82-story tower heads to auction
A distressed Holiday Inn property in downtown Miami that previously secured city approvals for an 82-story mixed-use tower is set for auction in December, The Real Deal reports. The property’s owner, Brazilian developer Gilberto Bomeny, filed for bankruptcy protection earlier this year after defaulting on a $70 million loan. Purchased by Bomeny for $65 million in 2015, the auction represents a potential opportunity to redevelop one of downtown Miami’s last major undeveloped parcels, with the existing hotel scheduled to close following the sale. The earlier redevelopment project was called Regalia on the Bay, designed by Arquitectonica to include 374 condos, 120 hotel rooms, offices and retail.
National
Portland, Maine requires owner of empty storefronts register so city can track them
Portland’s City Council has mandated that owners of commercial storefronts vacant for six months or more must register their properties with the city, Maine Wire reports. The ordinance, which applies to ground-level spaces in the pedestrian district, aims to connect empty properties with potential tenants and artists for temporary use. Property owners face escalating fines starting at $250 for vacancies of three to six months, increasing to $1,000 for spaces empty over a year, and up to $7,500 for decade-long vacancies. Owners can avoid penalties by allowing the city to display approved artwork in their storefront windows. This measure follows an earlier regulation that permits the city to fine owners of empty storefronts after three months unless they participate in the artwork program.
National
Ford Motor Company swaps iconic Glass House for $1.2 billion campus
Ford Motor Company has transitioned to its new $1.2 billion world headquarters in Dearborn after seven decades at the iconic Glass House, WXYZ reports. The expansive 2.1-million-square-foot campus consolidates engineering, design and technology teams in one location to foster greater collaboration and innovation. Notable features include a 160,000-square-foot food hall, 12 acres of green space and a layout that reduces material transport time by more than 80%. With 14,000 employees within walking distance of each other, the facility is designed to accelerate development.
Arizona
Company behind project featuring Ritz-Carlton files for bankruptcy
Five Star Development, the company behind a $2 billion luxury project featuring a Ritz-Carlton hotel and residential development in Paradise Valley, has sought Chapter 11 bankruptcy protection, KTAR reports. The filing came just days before a planned foreclosure sale by Madison Realty Capital, which had lent $585 million for construction and claims the developer defaulted on the loan. Five Star reports both assets and liabilities estimated between $500 million and $1 billion. The bankruptcy filing temporarily halts the foreclosure proceedings while the legal dispute between the developer and lender continues. The outcome will determine the future of the stalled 122-acre luxury development.
Arizona
Gilbert industrial facility fetches top price-per-square-foot this year in Valley
Scottsdale-based ATLAS Capital Partners has announced the $26.8 million sale, or $443 per-building-square-foot, of a Gilbert, Arizona industrial project. The single-tenant building is fully leased to Frito-Lay, a division of PepsiCo. The property, which serves as a model for the company’s growing portfolio of best-in-class, low-coverage developments, closed at a 5.28% capitalization rate, achieving the lowest capitalization rate and highest price-per-square-foot this year for a Phoenix-area industrial building sale.
