Tuesday, June 30, 2026
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DevelopmentMidwestMissouriRetail

A.J. Brown Completes Construction of Indoor Padel, Pickleball Facility in Suburban St. Louis

by Kristin Harlow

OLIVETTE, MO. — A.J. Brown Inc. has completed construction of Padel + Pickle, an indoor padel and pickleball facility in the western St. Louis suburb of Olivette. The 42,116-square-foot project marks the largest indoor padel and pickleball facility in the world, according to the construction firm. A.J. Brown converted a former whiskey distillery and manufacturing facility into the championship-level property, which features six European-style padel courts and eight pickleball courts along with a bar, lounge areas, big-screen televisions, locker rooms and a pro shop. Padel + Pickle offers clinic, private lessons, leagues, court rentals, open play and tournaments for all skill levels. The project team included Linea Design Inc. and Fixture Contracting. Padel is a mix between tennis and squash.

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MichiganMidwestMultifamilyStudent Housing

Farbman Group Launches Full-Service Student Housing Platform, Campusville

by Kristin Harlow

SOUTHFIELD, MICH. — Southfield-based commercial real estate firm Farbman Group has launched Campusville, a comprehensive student housing property management, maintenance, development, construction and investment sales platform. The firm says it recognizes the need for innovative solutions to meet the changing demands of university living. Campusville’s mission is to enhance the quality of life for students by offering modern accommodations that foster a sense of community and provide convenient access to campus resources and local amenities.

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Leasing ActivityMidwestNebraskaOffice

Turner Construction Signs 6,132 SF Office Lease at Farnam Executive Center in Omaha

by Kristin Harlow

OMAHA, NEB. — Turner Construction has signed a 6,132-square-foot office lease at Farnam Executive Center in Omaha. The property, located at 10810 Farnam Drive and recently purchased by White Lotus Group, rises four stories and totals 92,242 square feet. Lease opportunities remain available for users looking for 4,000 to 79,644 square feet. Chris Mensinger, Justin Spooner and Lizzie Mensinger of Colliers represented the landlord in the lease with Turner.

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The-Parker-Tucson-AZ
AcquisitionsArizonaMultifamilyStudent HousingWestern

CBRE Brokers Sale of 484-Bed Student Housing Community Near University of Arizona

by Amy Works

TUCSON, ARIZ. — CBRE has brokered the sale of The Parker, a 484-bed student housing community located across the street from the University of Arizona’s Fox School of Music in Tucson. Jaclyn Fitts, William Vonderfecht, Casey Schaefer and Jeff Casper of CBRE represented the seller, a partnership between The Dinerstein Cos. and Harrison Street, in the transaction. The buyer was Inland Prime Capital of Oak Brook. Mark Cosenza and Brett Smith of Inland Real Estate Acquisitions internally represented the company. Although the price was not disclosed, Yield Pro reports the property sold for $132.5 million. The community is LEED Silver certified and offers fully furnished units in one- through six-bedroom configurations, with most units offering bed-to-bath parity. Shared amenities include study spaces, a social lounge, fitness center, community kitchen, turfed courtyard with seating, fire pit, corn hole boards and rooftop swimming pool. The property also features retail space, which Chase Bank occupies. 

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9573-9577-Chesapeake-Dr-San-Diego-CA
AcquisitionsCaliforniaOfficeWestern

Voit Negotiates $17M Sale of Office Building in San Diego’s Kearny Mesa

by Amy Works

SAN DIEGO — Voit Real Estate Services has arranged the sale of a two-story office building in San Diego’s Kearny Mesa submarket. The asset traded for $17 million, or $315 per square foot. Located at 9573 and 9577 Chesapeake Drive, the building features 54,000 square feet of office space. At the time of sale, the property was fully leased. Randy LaChance and Brandon Keith of Voit’s San Diego office represented the undisclosed buyer and undisclosed seller in the deal.

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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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