In the News—Week of November 3, 2025
Deal of the Week
Thomas Title & Escrow is proud to announce the successful closing of a $2.23 million commercial sale for a ground lease in Queen Creek, Arizona. The property, a single-tenant retail pad occupied by a nationally recognized restaurant brand, is ideally situated in the rapidly growing Queen Creek retail corridor, surrounded by major anchors and steady consumer activity.
Emma Chester, Business Development Officer, facilitated the transaction alongside Phoenix Commercial Advisors, with brokers Isaiah Clayton and Chad Tiedeman, and Matthews Real Estate Investment Services, who represented the buyer. Joel Montemayor led the closing as Senior Commercial Escrow Officer, supported by Vickie Montemayor and Rebeca Carrizo, with Teri Guevara serving as Senior Commercial Title Officer. Congratulations to everyone involved in another seamless closing within Arizona’s thriving retail investment market.
National
Dallas building with ties to JFK shooting probe may be converted to boutique hotel
A historic Dallas office building with ties to the FBI’s investigation of President Kennedy’s assassination is being considered for conversion into a boutique hotel, Weekly Real Estate News reports. The six-story Purse Building, constructed in 1905, originally served as a warehouse and later housed wholesale furniture operations. It gained historical significance when the FBI used it as a command center following the assassination. Wildcat Management purchased and renovated the property in 2017, and has now proposed transforming it into a 100-room hotel with ground-floor retail space. The development would preserve the building’s historic character while incorporating modern design elements, offering a unique hospitality opportunity in downtown Dallas.
National
LA Mayor issues order to streamline permits for CRE properties in area ravaged by fire
Los Angeles Mayor Karen Bass has issued an executive order to accelerate the rebuilding of commercial properties in the Pacific Palisades area affected by the January fires, L.A. Business First reports via The Real Deal. The order streamlines the permitting process by allowing expedited approvals, extending land-use entitlements by five years and enabling licensed professionals to self-certify compliance for certain improvements. These measures aim to reduce bureaucratic delays while preserving the community’s distinctive character. The initiative builds on previous efforts to speed up residential reconstruction, with data showing that single-family home permits are now being approved nearly three times faster than before the disaster.
National
Office tower construction in Manhattan enjoys a resurgence as demand goes up
Manhattan is experiencing a resurgence in office tower construction, the New York Post reports. Several major projects not expected to be completed until the end of the decade have recently broken ground. Premium office space in prime locations is commanding asking rents approaching $200 per square foot, driven by demand for modern, technologically advanced workspaces. Major developments include BXP’s 343 Madison Ave., RXR and TF Cornerstone’s 2.9 million-square-foot tower at 175 Park Ave., and potential projects at 350 Park Ave. and 2 World Trade Center. The market reset has also attracted investors back to office properties, spurring numerous sales and signaling renewed confidence in New York City’s commercial real estate sector.
National
Commercial space in Florida college town goes vacant despite return-to-office order
Gainesville, Florida’s commercial properties face vacancy challenges due to multiple economic pressures, WUFT reports. Small businesses struggle with rising costs from inflation, labor expenses and Florida’s soaring insurance premiums, while college town dynamics create seasonal revenue fluctuations. The office market remains particularly weak as remote work continues, though the University of Florida’s return-to-office mandate offers some hope for recovery. High interest rates, steep build-out costs and property taxes force landlords to charge higher rents while waiting for established tenants with strong finances, leaving many spaces empty despite active behind-the-scenes negotiations.
Arizona
Lincoln Property Company has cool plan for recently acquired data center
Lincoln Property Company has purchased a 191,000-square-foot data center in Chandler and plans to develop the facility’s vacant areas and deliver turnkey data center space, City Biz reports. The property, located at 2500 W. Frye Road, features 28MW of utility power. Lincoln plans to add 16MW of critical capacity across three data center halls by early 2026. Lincoln will upgrade the cooling system from evaporative to air-based technology, potentially conserving up to 3 million gallons of water monthly for Chandler. This acquisition addresses Arizona’s high demand for data center capacity, as metro Phoenix’s vacancy rates have dropped below 2%.
Arizona
Phoenix-based company specializing in high tech building acquired by California firm
Webcor, a San Francisco-based commercial construction company, has announced plans to acquire Phoenix’s GCON, a construction management firm specializing in environments such as data centers and semiconductor facilities, AZ Big Media reports. The acquisition, expected to finalize in the fourth quarter, will allow Webcor to enter high-growth technology markets. GCON will gains access to greater resources for pursuing larger regional projects. GCON will maintain its independent operations, leadership team, brand identity and Arizona headquarters following the transaction.
