Thomas Title & Escrow

A national bank modified an existing loan on a Delaware-based investor’s office development in Arizona.?The 180,000-square-foot office sits on a 10.6-acre parcel near the Loop 101 in north Phoenix.?The $17 million loan transaction was handled by Senior Commercial Escrow Officer Joel Montemayor and Underwriting Counsel Chadwick Campbell in our Scottsdale office.? Learn more: https://lnkd.in/g25vvHxG #ThomasTitleandEscrow #CommercialRealEstate #TitleTrove #DealOfTheWeek #Arizona #Development #Office

CrowdStrike CEO George Kurtz leads way for major development on Scottsdale Road A major development called The Parque is set to transform a former amusement park site in north Scottsdale, The Real Deal reports. The $1 billion project at the former CrackerJax site is spearheaded by CrowdStrike CEO George Kurtz. It will span 30 acres on Scottsdale Road, north of the Scottsdale Airport. The Parque will feature a mix of residential, commercial, hospitality spaces, including more than 1,200 homes, a hotel and office buildings. The development’s first phase will center around a park and incorporate apartments, condominiums, retail and dining options. Plans have been submitted to the city’s development review board. Read more: https://lnkd.in/gPpNErzT #ThomasTitleandEscrow #CommercialRealEstate #TitleTrove #Scottsdale #Arizona #CrowdStrike #Development #MixedUse

60% of Downtown Denver Partnership firms have returned to office, bolstering market Denver’s commercial real estate market is showing signs of recovery, with 60% of Downtown Denver Partnership businesses now back in their offices, Denver 7 TV reports. Despite facing challenges like high vacancy rates, with nearly 25% of office space empty in the metro area, some positive momentum is emerging. The 16th Street Mall, which suffered during both the pandemic and construction phases, is nearing completion of renovations aimed at attracting more foot traffic. While some restaurants have closed, new businesses continue to open, reflecting the area’s entrepreneurial spirit and gradual return to normalcy. Founded more than 60 years ago, the Downtown Denver Partnership is a nonprofit organization that aims to enhance downtown Denver.? Read more: https://lnkd.in/gmxa4T-P #ThomasTitleandEscrow #CommercialRealEstate #TitleTrove #Office #Denver #Colorado

A national residential master-planned community (MPC) developer conveyed its inventory of lots and land in four communities to a joint venture entity.?In addition to the property in Arizona, the portfolio transaction encompassed three additional MPCs in three other states.?Underwriting Counsel Chadwick Campbell and the Thomas Title Builder & Developer Services team spearheaded the title work for the $88 million portion of the transaction in Arizona.?? Learn more: https://lnkd.in/g25vvHxG #ThomasTitleandEscrow #CommercialRealEstate #TitleTrove #DealOfTheWeek #Arizona #Residential #Multifamily #Development?

Greater Phoenix top industrial market in nation, CommercialCafe analysis shows Greater Phoenix has emerged as the leading industrial market in Q4 2024, AZ Big Media reports. CommercialCafe evaluated 30 major U.S. markets on multiple metrics, including quarterly deliveries and projected inventory expansion. Phoenix delivered 7.16 million square feet of industrial space in 2024’s last quarter, placing first for this metric. The market also placed fist for its expansion of industrial stock through Q4 deliveries (1.88%) and led the nation in industrial pipeline, with 22.3 million square feet under development — a projected 5.8% inventory expansion. Orange County and the Inland Empire, secured the second and third positions, respectively, with Orange County boasting the highest nationwide average rent at $16.2 per square foot. Read more: https://lnkd.in/ghBB9ACi #ThomasTitleandEscrow #CommercialRealEstate #TitleTrove #Arizona #Phoenix #Industial

Portland mayor, Oregon governor seek to stimulate apartment construction Portland Mayor Keith Wilson and Oregon Gov. Tina Kotek announced a joint initiative with private sector partners to address Portland’s housing shortage through increased apartment construction, Oregon Public Broadcasting reports. The effort aims to streamline permitting processes and zoning policies to attract more investment in market-rate housing development, as Portland currently ranks near bottom among U.S. cities for real estate prospects. With a target of building 120,000 new homes by 2045, the initiative focuses primarily on private sector development rather than subsidized affordable housing. The plan comes amid concerns about federal funding cuts and rising construction costs, though officials remain optimistic about potential solutions through local policy changes. Read more: https://lnkd.in/gMwMah-k #ThomasTitleandEscrow #CommercialRealEstate #TitleTrove #Portland #Oregon #Multifamily

?? Closing Out Q4 2024 with Record-Breaking Transactions! ?? At Thomas Title & Escrow, we’re proud to have played a key role in $2.5B+ worth of transactions this past quarter. A huge thank you to our clients, partners, and team for making these milestones possible! ??? $1.2B Import | Arizona ?? $585M Sales | Arizona ?? $516M Purchase | Arizona ?? $160M Refinance | Arizona As we head into 2025, we remain committed to delivering exceptional service and expertise in every deal. Let’s keep the momentum going! Dustin Gaskey, Chadwick Campbell, Kylie Cook, Justin Wine, Scott Tatum, Joel Montemayor, ?Eric Stewart, Melissa Huerta, Deana Colliver, Teri Guevara #ThomasTitleandEscrow #CommercialRealEstate #ThomasTitle #Q42024 #TopTransactions #RealEstate #Escrow #TitleIndustry

Thomas Title & Escrow facilitated the $24.5 million sale of Miller Plaza, a prime commercial property in Scottsdale, AZ. This transaction highlights our expertise in navigating complex, high-value deals with precision and efficiency. Kudos to Teri Guevara and our dedicated team for ensuring a seamless closing! Learn more: https://lnkd.in/g25vvHxG #ThomasTitleandEscrow #CommercialRealEstate #TitleTrove #DealOfTheWeek #Scottsdale #Arizona #Retail

Mayo Clinic to spend $1.9 billion, expand clinical space at Phoenix facility by 60% Mayo Clinic has announced a $1.9 billion expansion project for its Phoenix campus, AZ Big Media reports. The expansion will add 1.2 million square feet of space, including operating rooms, patient units and a two-story indoor promenade connecting buildings. The project will increase the clinical space by nearly 60%. Set for completion in 2031, this transformation represents Mayo Clinic’s largest investment in Arizona and aims to establish new standards in patient care. “Through this work, we are physically and digitally transforming health care and blurring the lines between inpatient and outpatient care,’’ says Gianrico Farrugia, president and CEO of Mayo Clinic. Read more: https://lnkd.in/g8rmFUmh #ThomasTitleandEscrow #CommercialRealEstate #TitleTrove #Arizona #Phoenix #MayoClinic #Hospitality

Blackstone changes focus, seeks loan to acquire Manhattan office building Blackstone, the world’s largest alternative asset manager, is pursuing an $800 million loan to acquire a stake in a prestigious Manhattan office building at 1345 Avenue of the Americas, Reuters reports. The 50-story building has shown remarkable resilience post-pandemic, maintaining 96% occupancy and securing long-term tenants such as global law firm Paul, Weiss, Rifkind, Wharton & Garrison. This investment marks a strategic shift for Blackstone, which had previously reduced its office real estate exposure to less than 2% of its portfolio, down from 60% in 2007.? Read more: https://lnkd.in/gPMfMstd #ThomasTitleandEscrow #CommercialRealEstate #TitleTrove #Office #NewYork #Manhattan