NEW BRAUNFELS, TEXAS — TaskUs, a provider of digital technology solutions, has signed a lease renewal and expansion to occupy more than 80,000 square feet of office space at Heritage Plaza in the San Antonio suburb of New Braunfels. Wills Bauer and Randy Cooper of Stream Realty Partners represented TaskUs in the lease negotiations. Shawn Gulley represented the landlord, Worth & Associates, on an internal basis. TaskUs will modify its space to include a gaming lounge, meditation room and a break room.
EDEN PRAIRIE, MINN. — JLL Capital Markets has arranged $85.1 million in joint venture equity and construction financing for Paravel, a 246-unit apartment complex in the Minneapolis suburb of Eden Prairie. JLL secured a $59.5 million construction-to-permanent, fixed-rate loan through a life insurance company, and sourced $25.6 million in joint venture equity from a high-net-worth family office. Located at 8300 Commonwealth Drive, Paravel will be part of the Castle Ridge mixed-use development. The complex will include 358 underground parking stalls and 67 surface parking spaces. Josh Talberg, Brock Yaffe, Dan Linnell, Mox Gunderson, Pat McMullen, Adam Haydon, William Haass and Ken Dayton of JLL represented the borrower, Timberland Partners.
COVINGTON, OHIO — Natixis has provided a $53 million loan for the refinancing of River Haus Apartments in Covington, about two miles from downtown Cincinnati. The borrower, Flaherty & Collins, completed development of the 192-unit, Class A multifamily community in 2019. Daniel Geuther and Michael Slovitt of Berkadia arranged the five-year, floating-rate loan, which replaced the initial construction financing.
MANTENO, ILL. — Provender Partners has acquired a 570,028-square-foot industrial facility in Manteno, about 55 miles south of downtown Chicago. The purchase price was $30 million. Located at 1125 Sycamore Road and built in 1999, the property is fully temperature-controlled. It features 84 docks, 132 trailer stalls and rail service. The facility serves as the Midwest distribution center for McKesson’s pharmaceutical supply chain. The acquisition also includes 50 acres of excess land, which is fully entitled for the development of an additional 620,000 square feet of industrial space. Provender is considering several options for the land, including future expansion of the existing building, speculative or build-to-suit development. This is the fourth and largest food-related industrial building that Provender has acquired in the Chicago area over the past 18 months. Will Mura and Ted Gates of CBRE brokered the sale, the seller in which was undisclosed.
CHICAGO — Becovic, a Chicago-based multifamily owner and operator, has acquired The Fleetwood in Chicago’s Edgewater Beach neighborhood for $7.2 million. The 59-unit apartment building is located at 6026 N. Winthrop Ave. Originally built in 1929, The Fleetwood rises eight stories with 21 studios, 37 one-bedroom units and one two-bedroom unit. The seller, an owner and operator of several apartments in the area, owned the property for almost 40 years.
CEDAR RAPIDS, IOWA — Construction is underway on Edgewood Logistics Park, a 204,000-square-foot speculative industrial building in Cedar Rapids. The 21-acre project will feature a clear height of 36 feet, 48 docks, 200 vehicle parking stalls and 130 semi-trailer parking spaces. Completion is slated for spring 2022. Dave Drown of GLD Commercial is marketing the project for lease. The development group is privately held and locally owned. Garling Construction is the general contractor.
HARRISON, N.Y. — A partnership between Dallas-based Trammell Crow Residential, a subsidiary of Crow Holdings, and Boston-based Marcus Partners is underway on construction of Alexan Harrison, a 450-unit apartment community that will be located about 25 miles north of Manhattan. Alexan Harrison will offer studio, one-, two- and three-bedroom units ranging in size from 507 to 2,135 square feet. A portion of the residences, which will feature stainless steel appliances, granite countertops and individual washers and dryers, will be reserved as affordable housing. Amenities will include two pools and clubhouses, a fitness center, dog park, walking trails, a business center with private offices, wellness center and Amazon package lockers. Construction is scheduled to be complete in April 2024.
NEW YORK CITY — Locally based developer Zara Realty has broken ground on a 223-unit mixed-income project located at 153-10 88th Ave. adjacent to Rufus King Park in Queens. Thirty percent (66) of the units, which will feature studio, one- and two-bedroom floor plans, will be designated as affordable housing. Amenities will include a fitness center, a tenant recreational space, rooftop terrace with gardens and seating areas, electric vehicle charging stations and storage units. Ismael Leyva Architects is designing the nine-story building, and Monadnock Construction Inc. is the general contractor. Completion is slated for 2023.
EAST WINDSOR, CONN. — A joint venture between Wharton Industrial, an investment arm of New York City-based Wharton Equity Partners, and Boston-based Long Wharf Capital has acquired a 279,256-square-foot warehouse in Connecticut. The property, which is located in East Windsor, a northern suburb of Hartford, was built on 40 acres in 1979. Building features include a clear height of 18 to 20 feet, over 300 parking spaces and 5,000 square feet of designated office space. Chris Metcalfe and Jack Reed of CBRE brokered the deal and will also handle leasing of the property on behalf of the new ownership, which will implement a capital improvement program.
NEW YORK CITY — Robotics software provider Viam has signed a 10-year, 54,000-square-foot lease to occupy the entire sixth floor of 1900 Broadway, a 321,000-square-foot office building that overlooks Lincoln Center in Manhattan. The eight-story building features a new lobby, multiple conference rooms, café and a wellness room. Frank Doyle, Mitchell Konsker, Barbara Winterm and Carlee Palmer of JLL represented the locally based landlord, Ogden CAP Properties, in the lease negotiations. Ephraim Setton and Troy Gordon with R New York represented Viam.