In the News—Week of October 6, 2025
Deal of the Week
Thomas Title & Escrow is proud to highlight the successful closing of the Marabrisa Condominiums in Mesa, Arizona, a condominium sale totaling $10.5 million.
A private capital buyer acquired the Marabrisa community located at 234 N. 75th Street in Mesa from multiple entities. Situated in East Mesa, the Marabrisa Condominiums offer a well-maintained residential environment within a strong submarket known for accessibility and long-term growth potential.
This transaction was supported by a loan of $7.785 million through NorthMarq, with legal representation provided by Kingsley Law Firm, LLC for the buyer and Troutman Pepper for the lender. The CBRE Phoenix multifamily team, led by Brian Tranetzki and Anton Laakso, represented both the buyer and the sellers in the deal. This closing exemplifies Thomas Title & Escrow’s ability to efficiently navigate multi-seller transactions and complex commercial condominium structures. From coordinating multiple title policies and association documents to managing lender requirements and recording logistics, the team demonstrated exceptional execution and collaboration.
Special recognition goes to Senior Escrow Officer Joel Montemayor and Escrow Assistant Vickie Montemayor for their seamless escrow coordination and communication, Senior Commercial Title Officer Teri Guevara for managing title accuracy and document integrity, and National Account Executive Justin Wine for supporting the transaction from initial engagement through closing.
National
Amazon founder Bezos forecasts solar-powered data centers in space
Jeff Bezos recently predicted that gigawatt-scale data centers will be built for use in space within the next 10 to 20 years, the New York Post reports. Data centers in space would be able to leverage continuous solar power availability that would make them more cost-effective than Earth-based facilities. Speaking at Italian Tech Week, he explained that space-based data centers would benefit from 24/7 solar power without weather interference, positioning this development as part of a natural progression following weather and communication satellites. While acknowledging potential challenges like maintenance difficulties and launch risks, Bezos compared the current AI surge to the early internet boom, advocating for optimism despite possible speculative bubbles.
National
Five states file suits claiming Zillow, Redfin engaged in scheme that hurts renters
Five state attorneys general have filed a lawsuit against Zillow and Redfin, alleging the companies engaged in an anticompetitive scheme in the online rental housing market, CNBC reports. New York, Arizona, Connecticut, Washington and Virginia jointly filed the lawsuit, which claims Zillow paid Redfin $100 million to shut down its apartment rental advertising business and transfer clients to Zillow. This legal action follows a similar suit filed by the Federal Trade Commission a day earlier. Both companies have denied the allegations. Redfin said the partnership actually improves rental listings access. Zillow maintains the arrangement is pro-competitive and beneficial to consumers.
National
Apartment construction in Los Angeles drops 30% as developers blame ULA, regulations
Despite high demand and expensive rental rates in Los Angeles, apartment developers are significantly reducing construction projects due to regulatory challenges, The Real Deal reports. Measure ULA, which taxes real estate sales over $5 million, combined with other development regulations has caused major lenders to avoid financing projects in the city. Construction has dropped 30% in three years, reaching near-decade lows with fewer than 19,000 apartments under construction. Developers are increasingly taking their business to other municipalities as they struggle to make projects financially viable in Los Angeles.
National
In surprise move, 21 diverse properties in popular Detroit district go up for sale
Firm Real Estate has listed 21 Eastern Market properties for a combined $30.9 million, offering a significant development opportunity in a popular Detroit district, Axios reports. The portfolio includes commercial buildings, vacant lots and mixed-use spaces, with the most expensive property housing Supino Pizzeria and Zeff’s Coney Island priced at $4.2 million. Properties can be purchased together or individually, with the company hoping this approach will attract more potential buyers including current tenants. Ownership of these properties has changed hands from Sanford Nelson, who faced criticism for his management practices, to a trust of the late Donald Foss, founder of Credit Acceptance Corp.
Arizona
Technology company Showit relocates to building in downtown Chandler
Technology company Showit is relocating its headquarters to The Johnathan, a Class A creative office building in downtown Chandler, with a 30,257-square-foot lease, AZ Big Media reports. Founded in 2006, Showit provides a no-code website building platform for creative entrepreneurs and website designers. The newly renovated building offers numerous amenities including training rooms, a tenant lounge, fitness center and outdoor spaces, all within a walkable downtown area. Located minutes from the Loop 202 freeway, the building provides access to labor pools, housing and airports, with Showit expected to move into its new offices in February.
Arizona
Gilbert panel gives OK to residential, retail development in Heritage District
Gilbert’s Redevelopment Commission unanimously approved designs for a 2.8-acre mixed-use development called South Anchor at Gilbert and Elliot roads, featuring 176 residences, 14,600 square feet of retail space and underground parking, the East Valley Tribune reports. Initial concerns about the project’s bland appearance and lack of brownstone elements for townhomes along Ash Street were addressed through redesigns that included subterranean parking levels and improved architectural features. Local residents and commissioners expressed satisfaction with the revisions, acknowledging the project’s importance as the “southern gateway” to the Heritage District.
