Saturday, February 7, 2026
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Icon-Echo-San-Jose-CA
CaliforniaDevelopmentLoansMixed-UseMultifamilyOfficeWestern

Urban Catalyst Receives $10.5M in Financing for Icon/Echo Mixed-Use Redevelopment Project in San Jose

by Amy Works

SAN JOSE, CAILF. — Gantry has secured $10.5 million in financing for pre-construction costs for Icon/Echo, a mixed-use redevelopment project in downtown San Jose. The borrower, Urban Catalyst, plans to construct two towers on the 2.1-acre land site following demolition of existing buildings and a parking lot. Current plans include a 21-story office building with street-level retail and a 27-story multifamily residential tower. The towers will be connected by a shared podium on floors one through four. Additionally, the project will offer a below-grade level of parking and 1,000 parking spaces. Construction at the site is slated to begin the next 12 to 24 months. Jeff Wilcox and Robert Slatt of Gantry arranged the short-term bridge loan with interest-only terms through a private real estate investment company.

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Surprise-34-Surprise-AZ
ArizonaDevelopmentIndustrialWestern

Ryan Cos., ESI Ventures Break Ground on 145,000 SF Industrial Project in Surprise, Arizona

by Amy Works

SURPRISE, ARIZ. — Ryan Cos. US, as builder, and ESI Ventures, as owner, have broken ground on Surprise 34, an industrial campus. The project will be located in the Surprise Pointe neighborhood of Surprise, a suburb northwest of Phoenix. The two-building development will offer more than 145,000 square feet of industrial space. Each building will feature 28-foot clear heights and dock wells for tenants. Ryan A+E Inc., the design studio of Ryan, is the architect and civil engineer of record for the project.

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AcquisitionsArizonaLoansRetailWestern

Freedom Financial Arranges $10.6M Acquisition Loan for Northpoint Shopping Center in Mesa, Arizona

by Jeff Shaw

MESA, ARIZ. — Freedom Financial Funds has arranged $10.6 million in financing for the acquisition of Northpoint Shopping Center in Mesa, a suburb east of Phoenix. Built in 1987, the property spans 159,913 square feet. Tenants include Basha’s, Ace Hardware, 360 Community Thrift Store and Karen’s Hallmark. Surrounding retailers include Shell, Taco Bell and McDonalds. Details on the buyer and seller were not disclosed.

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Academy-Sports
Company NewsDevelopmentRetailTexasTop Stories

Academy Sports + Outdoors Plans to Expand by 160 to 180 Stores Over Next Five Years

by Katie Sloan

KATY, TEXAS — Sporting goods retailer Academy Sports + Outdoors has announced plans to open 160 to 180 new stores over the next five years.  Half of the new stores are expected to open in markets where the retailer has an existing footprint. The remaining 80 to 90 stores are planned for new and adjacent markets, with a focus on expanding to smaller and mid-sized markets. The company sees these locations as offering higher opportunities for profit despite lower sales volumes. These openings will increase the Katy-based retailer’s footprint from 282 stores across 18 states to between 442 and 462 nationally. The company will begin this effort by opening 15 to 17 new locations in 2024. The first of these stores recently opened in Knightdale, N.C. Another location is set to open on April 12 in Greenwood, Ind.  The company, which sees 95 percent of its sales fulfilled in brick-and-mortar locations, concurrently announced plans to enhance its omnichannel shopping experience by improving its mobile application and search capabilities, increasing the speed of online check-out, and offering more payment options.  Academy Sports + Outdoors was founded in 1938 and offers a full range of outdoor and sports apparel and footwear; hunting, …

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Affordable HousingDevelopmentFeaturesMultifamily

Affordable Housing Crisis Prompts Search for Answers from Local, State and Federal Governments

by Jeff Shaw

One step forward, one step back could easily be the motto for affordable housing development this year. Experts are hopeful a more stable interest rate environment will bolster transaction activity in 2024. At the same time, rising insurance costs, supply-chain hiccups and property staffing issues are forcing developers and investors to proceed with caution in the affordable housing sector. The one-step-forward theme also applies to the legislative arena. The Tax Relief for American Families and Workers Act of 2024 contained Low-Income Housing Tax Credit (LIHTC) provisions that would have incentivized developers to build more housing for extremely low-income renters.  The act passed the U.S. House of Representatives in late January and is headed to the Senate, though the National Low Income Housing Coalition (NLIHC) reports that the major reforms to LIHTC were left out of the bill.  These speedbumps aren’t mere bureaucratic headaches. Some experts say they stand in the way of keeping many Americans safe and secure.  According to NLIHC, the United States is short 7.3 million rental homes that are affordable and available to renters with extremely low incomes, which is defined as either the federal poverty guideline or 30 percent of their area median income (AMI), whichever …

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IllinoisIndustrialMarket ReportsMidwestMidwest Market Reports

Chicagoland Industrial Market Remains Resilient

by Kristin Harlow

By Noel Liston, Core Industrial Realty The 10 major submarkets that comprise the broader Chicagoland industrial market all performed at or above expectations in 2023. While absorption was not as robust as the pandemic boom that saw back-to-back record years, 2023 was a solid year for absorption and a strong year in rental growth throughout the broader market.  Significant deliveries of speculative developments were offset with solid absorption by manufacturing, assembly and food & beverage-related industries that picked up the slack left from a less enthusiastic e-commerce market. Broadly speaking, the greater Chicagoland industrial market started 2024 with a vacancy rate of ±7.3 percent. This vacancy rate is up from the low 5 percent range the market averaged for the second half of 2023.  Assuming equilibrium (a market that favors neither tenant nor landlord) for the market is historically a ±6 percent vacancy rate, the current vacancy rate can be deceiving. This is, in large part, due to the jump in vacancy as a result of the delivery of a significant amount of larger, speculative industrial developments in certain submarkets where land zoned for industrial with relatively good access to a major highway or interstate was still available.   Further, …

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Windcrest-International-Business-Park
AcquisitionsIndustrialOfficeTexas

ICP Acquires 1.2 MSF Former Rackspace Headquarters Complex Near San Antonio

by Taylor Williams

WINDCREST, TEXAS — Cleveland-based investment and development firm Industrial Commercial Properties (ICP) has acquired the 1.2 million-square-foot former headquarters complex of Rackspace Technology in Windcrest, located just northeast of San Antonio. The locally based cloud computing firm originally acquired the 66-acre property in 2007. According to San Antonio Report, ICP plans to invest more than $40 million in capital improvements to the property, including redeveloped façades, parking lots and green spaces, and to feature industrial and office space that can support eight to 10 tenants. The property will also be rebranded as Windcrest International Business Park.

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Presidium-Velocity-Austin
DevelopmentMultifamilyTexas

Presidium Breaks Ground on 307-Unit Multifamily Project in Southeast Austin

by Taylor Williams

AUSTIN, TEXAS — Texas-based developer Presidium has broken ground on a 307-unit multifamily project that will be located within the 314-acre Velocity master-planned development in southeast Austin. Apartments will come in studio, one-, two- and three-bedroom floor plans and range in size from 375 to 1,400 square feet. Amenities will include a pool, fitness center, coworking lounge, dog park, volleyball and pickleball courts, entertainment lounge and podcast rooms. O’Brien Architects designed the four-story project, and Provident General Contractors is handling construction. Completion is slated for mid-2025.

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AcquisitionsOfficeTexas

Piedmont Office Realty Trust Sells One Lincoln Park in North Dallas for $54M

by Taylor Williams

DALLAS — Atlanta-based REIT Piedmont Office Realty Trust has sold One Lincoln Park, an approximately 257,000-square-foot building in North Dallas. The 10-story building, which was constructed in 1999, was 59 percent leased at the end of 2023. Amenities include a fitness center, conference facilities, tenant lounge and grab-and-go food service. A financial institution, which the Dallas Morning News reports is Triumph Financial, purchased One Lincoln Park in an all-cash deal and plans to use the building as its new headquarters.

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AcquisitionsRetailTexas

Headwall Investments, SageView Buy 126,549 SF Shopping Center in Northwest San Antonio

by Taylor Williams

SAN ANTONIO — A joint venture between two locally based firms, Headwall Investments and SageView Partners, has purchased The Colonnade Retail Center in San Antonio. The 126,549-square-foot shopping center sits on a 5.4-acre site on the city’s northwest side. Tenants at The Colonnade include Firehouse Subs, Great Clips, The Honey Baked Ham Co., First Watch and PJ’s Coffee of New Orleans. The seller and sales price were not disclosed.

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