United Properties to develop national nonprofit’s new headquarters in North Loop Neighborhood of Minneapolis

MINNEAPOLIS—Oct. 16, 2013—The Minneapolis-based nonprofit that operates Be The Match® – which connects patients with their donor match for a life-saving bone marrow or umbilical cord blood transplant – today announced plans for a new headquarters building, where it will bring together staff and continue to expand its life-saving mission.

The National Marrow Donor Program® (NMDP), one of Minnesota’s largest healthcare nonprofit organizations, has chosen a site in the North Loop neighborhood of downtown Minneapolis for construction of the seven-story building. The new building, to be developed by United Properties, will be located at 524 N. Fifth St. in Minneapolis’ North Loop district, on the current site of Shapco Printing. Construction is anticipated to begin in summer 2014, and to be completed in time for a move-in-date in late 2015.

“The number of patients with diseases for which a bone marrow transplant can be a cure is increasing, along with the types of diseases that the procedure is used treat,” said Jeffrey Chell, M.D., chief executive officer of the NMDP/Be The Match. “But more than 70 percent of patients don’t have a matching donor in their family. That’s where we come in. Our goal is to find a matching donor for every patient in need.”

Currently, the NMDP/Be The Match has more than 900 employees. The organization currently leases approximately 196,000-square-feet of office space between two buildings in Northeast Minneapolis. The new North Loop headquarters, located on a site controlled by United Properties, will provide approximately 240,000 sq. ft. of space.

“We are thrilled to be selected by the NMDP/Be The Match for this unique opportunity,” said Bill Katter, executive vice president, United Properties. “The North Loop is an exciting, growing area and now NMDP/Be The Match will be a big part of its identity.”

The building will take advantage of its unique location near downtown Minneapolis, Target Field, the North Loop light rail stop, and future home of the Interchange Transit Hub. An elevated 11,000-sq.-ft. entry plaza will be created for outdoor public events, with additional event space in the main floor lobby. The rooftop level, with views of the ballpark and downtown, will feature a fitness center, event space and an outdoor terrace. The building also will include three levels of underground parking. The nonprofit’s data center will remain in Minnetonka, and its research repository will remain in New Brighton.

“This unified office space will allow our staff to work together more effectively and efficiently, in the service of patients seeking a second chance at life,” Chell said. “Building awareness about the need for volunteer donors is also critical to our mission. This location will allow us to be more visible within the Twin Cities community, and increase our opportunities to connect with the public, corporations and supporting organizations.”

About the National Marrow Donor Program (NMDP)
The National Marrow Donor Program (NMDP) is the global leader in providing a cure to patients with life-threatening blood and marrow cancers such as leukemia and lymphoma, as well as other diseases. The nonprofit organization manages the world’s largest registry of potential marrow donors and cord blood units, connects patients to their donor match for a life-saving marrow or umbilical cord blood transplant, educates health care professionals and conducts research so more lives can be saved.

The NMDP also operates Be The Match, which provides patient support and enlists the community to join the Be The Match Registry®, contribute financially and volunteer.

Media Contacts
Kirsten Lesak-Greenberg
612-455-1749 / 763-300-9254
klg@padillaCRT.com

Jessie Timmerman
952-837-8516
jessie.timmerman@marquettere.com

DENVER (Oct. 7, 2013) – United Properties, a developer and investor with offices in Denver, announced today that it has signed a lease with Swire Coca-Cola USA, a subsidiary of Swire Pacific Ltd., for a 257,000-sq.-ft. industrial building at Enterprise Business Center (EBC) at Stapleton in Denver. One of the largest Coca-Cola distributors in the United States, Swire Coca-Cola USA plans to acquire the distribution rights for Coca-Cola in eastern Colorado and will operate its beverage distribution for the Denver metropolitan area from their facility at EBC. Swire plans to move into the building in May 2014 when construction is complete.

In July 2013, United Properties purchased the 38-acre site for EBC from Forest City Stapleton, Inc., the master developer for Stapleton. The 700,000-sq.-ft., Class A industrial development is near the southwest corner of Interstate 70 and Havana Street in Denver.

When fully developed, EBC will include four industrial buildings. United Properties currently is constructing a 231,000-sq.-ft. companion bulk distribution building west of the Swire building, which also will be complete in May 2014. United Properties plans to start construction by the first quarter of 2014 on the flex industrial buildings each approximately 100,000 sq. ft. and along 40th Avenue.

In addition to United Properties, the project team includes general contractor Murray & Stafford, architect Ware Malcomb, engineer Jansen Strawn, Mike Wafer and Tim D’Angelo of Newmark Grubb Knight Frank representing United Properties, and Joe Cantalamessa of Cantalamessa Partners representing Swire.

About Swire Coca-Cola USA
Swire Pacific Holdings Inc. (dba Swire Coca Cola USA) is a division of Swire Pacific Ltd. (HKSE: 00019/00087) (www.swirepacific.com). It has the exclusive right to manufacture, market and distribute the products of The Coca-Cola Company in Hong Kong, Taiwan, seven provinces in Mainland China and an extensive area of Western USA. The relationship with Coca-Cola began in 1965, with the acquisition by Swire of the majority shareholding in the Hong Kong franchise. Swire Beverages manufactures over 63 beverage brands and distributes them to a franchise population of over 440 million people.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Martha Nevanen
952-893-7539
martha.nevanen@marquettere.com

MINNEAPOLIS (Sept. 19, 2013) – United Properties announced today that it signed a purchase agreement with private REIT CRI Income last week to acquire the Days Hotel on the edge of the University of Minnesota Campus, at 2407 University Ave. SE, Minneapolis.

Due diligence is currently underway, a process that is expected to take 60 to 90 days; a closing date has not yet been set but is anticipated in late December or early January. The property was listed for sale in June by Jon Ruzicka of Marcus & Millichap.

“We view this as a great near-term investment opportunity in a prime location, with potential for future redevelopment. It’s a property we have studied for some time,” said Brandon Champeau, assistant vice president, United Properties. “The operating income from the hotel will allow us the luxury of being patient as the company evaluates the property’s redevelopment potential over the next several years.”

If completed, this would represent United Properties’ first hotel acquisition. Days Hotel is a 107,000-sq.-ft., six-story hotel on 2.45 acres with 130 guest rooms and a restaurant. United Properties would maintain the Days Hotel, make building renovations, and intends to retain the current management company to run it.

“The property has been operating as a successful campus hotel for many years now, and with planned light rail adjacent to the site and the Minnesota Vikings use of TCF Bank Stadium in 2014-2015, we believe the hotel will only get better,” said Champeau.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Martha Nevanen
952-893-7539
martha.nevanen@marquettere.com

Council approves site plan, rezoning and planned unit development

MINNEAPOLIS (Sept. 16, 2013) – United Properties and Jerry’s Enterprises, Inc., announced today that they received approval from the City of Woodbury to develop Bielenberg Gardens. In the Sept. 11 City Council meeting, a joint venture between the parties received approval for the site plan, rezoning and planned unit development of the 90,000-sq.-ft. retail project, which includes a grocery-anchored shopping center, a retail building along with additional retail and commercial outlots.

Bielenberg Gardens will be anchored by a 68,000-sq.-ft. grocery store, operated by Jerry’s Enterprises, along with a 12,300 sq, ft. multi-tenant retail building and several retail outlots for sale/lease. The retail strip center and outlots will include retail shops, restaurants, a convenience store, bank and gas station.

Located at the southwest corner of Radio Drive and Bailey Road, construction will begin on the 30-acre site in October 2013. Once initial site work is complete, construction of the grocer and retail building will begin in spring 2014 and be completed by fall 2014.

Designed with walkability in mind, Bielenberg Gardens will include the new Hargis Parkway, sidewalk connections, new trails along Bailey Road and Radio Drive, trail benches within the site, and perennial gardens. The site will be connected to the Bielenberg Sports Complex by a tunnel under Radio Drive, which further extends the pedestrian tunnel system in the area. Another key component of United Properties’ development is a central stormwater retention pond, which will be connected to a water reuse system to irrigate Bielenberg Gardens and the adjacent properties.

“Support from the residents of south Woodbury has been there since the beginning – for necessary goods and services like groceries, gas, quick-serve food and banking,” said Keith Ulstad, senior vice president of development at United Properties. “With the completion of the Radio Drive upgrade, the extension of sewer, and comprehensive stormwater modeling, we’re excited to be entering the execution and delivery phase of Bielenberg Gardens.”

Bielenberg Gardens is the retail component of a city-guided, master-planned development that eventually will include apartments, townhomes and other amenities.

Representatives of United Properties and Jerry’s Enterprises have worked closely with the City of Woodbury; additional project partners include project architect Architectural Consortium, LLC, and engineers Kimley-Horn. A general contractor will be announced prior to the spring construction of the buildings.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Martha Nevanen
952-893-7539
martha.nevanen@marquettere.com

Activity brings Bloomington office complex to nearly 90 percent occupied

MINNEAPOLIS (Aug. 26, 2013) – With new tenant Meadowbrook Insurance Group’s new 5+ year lease at the 3600 Building of Northland Center, activity in the last 30 days at the United Properties’ owned office complex has brought occupancy to nearly 90 percent.

Specializing in risk management, the insurance company will move into its 6,200 sq. ft., sixth floor space in November 2013 from the Wells Fargo Plaza in Bloomington. Meadowbrook Insurance Group was represented by Rob Pipkin of Mohr Partners with RJM Construction carrying out the interior renovations.

Other recent leasing activity for Northland Center includes: current tenant Attorney Allison Johnson renewing its lease three+ years in the 3500 Building on the 6th floor; and current tenant Emergent Financial Group extending its lease and expanding into an additional 4,900 sq. ft. The company, which provides investment banking services for early stage growth companies in healthcare, has been a tenant since 2009. RJM Construction is currently building out Emergent’s new space in the 3600 Building.

The Cushman & Wakefield/NorthMarq Brokerage team of Bill Rothstein and Dan Wicker represented United Properties in the transactions.

A 465,000-sq.-ft. office complex built in phases in 1981 and 1983, Northland Center made significant interior renovations and exterior improvements in 2010. The complex is U.S. Green Building Council LEED Silver Level certified for Existing Buildings: Operations & Maintenance.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

DENVER (July 16, 2013) – United Properties, a developer and investor with offices in Denver, announced today that it has purchased 38.2 acres from Forest City Stapleton, Inc. and will break ground on the first phase of the Enterprise Business Center in Stapleton on July 17. The 710,850-sq.-ft., Class A industrial development is located near the southwest corner of Interstate 70 and Havana Street in Denver.

Phase one of Enterprise Business Center will be a 514,500-sq.-ft. cross-dock distribution building suited for tenants seeking 125,000 sq. ft. of space or more. The building’s state-of-the-art design includes concrete tilt wall panels, 32 feet interior clear height, ESFR sprinkler system, T-5 lighting, white “cool” roof and truck parking, and will be able to accommodate security fencing. Construction will be complete in February 2014, with occupancy available as early as the end of March 2014.

When fully developed, Enterprise Business Center will include three industrial buildings. After the phase one building, United Properties plans to develop two flex industrial buildings of approximately 100,000 sq. ft. each. These buildings will have 24 feet clear height and target tenants seeking at least 25,000 sq. ft. of space with a higher office finish requirement.

“Our first building offers modern, high bay, Class A distribution space with ample truck parking in a central location with easy access off Interstate 70,” said Kevin Kelley, vice president/regional director-Colorado, United Properties. “No other existing or planned project offers our combination of location, quality and modern design.”

“The overall market vacancy for Class A modern distribution space for users seeking at least 125,000 sq. ft. is virtually negligible,” said Mike Wafer, Newmark Grubb Knight Frank; Wafer and Tim D’Angelo serve as the listing agents for the project. “Given this lack of vacancy and our prime location, there is no existing or proposed property that competes with Enterprise Business Center.”

“We are delighted to have United Properties choose Stapleton for this dynamic new warehouse and distribution center,” said John S. Lehigh, president, Forest City Stapleton, Inc., the master developer for Stapleton. “In taking advantage of Stapleton’s excellent access to a network of regional highways and the visibility that comes with locating its Enterprise Business Center in one of the nation’s most celebrated, mixed use, urban communities, United Properties has displayed the vision that has made it so successful in creating high quality commercial real estate development.”

United Properties has hired Murray & Stafford as the general contractor for phase one construction. The project team for the first phase also includes architect Ware Malcomb and engineer Jansen Strawn.

With direct access to Interstate 70 and situated within one of the most successful master-planned redevelopments in the country, Enterprise Business Center is positioned near shopping, recreation, entertainment and dining.

About Forest City Stapleton, Inc.
Forest City Stapleton, Inc. is a wholly owned subsidiary of Forest City Enterprises, Inc., a NYSE-listed national real estate company with $10.6 billion in total assets. Forest City Enterprises, Inc. is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the United States. For more information, visit www.forestcity.net.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Deb Bergman
303.260.4307
dbergman@newmarkkffr.com

Tom Gleason
303.382.1800
TomGleason@forestcity.net

MINNEAPOLIS (June 13, 2013) – Melissa Duce has been promoted to senior associate in the value-add group at United Properties. Effective July 1, Duce will support the development and acquisition activities in both the company’s Minnesota and Colorado offices.

Duce brings a wealth of investment analysis experience to the team, most recently serving as a market analyst for the retail portfolio, as well as assisting in leasing opportunities and strategies. She has been with United Properties since 2005.

“We’re very pleased to have Melissa join the value-add group at United Properties,” said Bill Katter, executive vice president. “She brings a very collaborative approach to her work both within United Properties and with other organizations.”

Duce’s investment career dates back to 1997, working for Allina Health System and Sit Investment Associates. She is a member of the Minnesota Shopping Center Association (MSCA), and is a board member for Children’s Hospital Association. Duce received her bachelor’s degree in business management from Hamline University.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Martha Nevanen
952-893-7539
martha.nevanen@marquettere.com

Construction at InverPoint will begin this summer

MINNEAPOLIS (May 23, 2013) – United Properties will begin developing InverPoint with the construction of a 130,000-sq.-ft. speculative industrial building. InverPoint is located at Hwy. 55 and Barnes Ave. in Inver Grove Heights, Minn. Groundbreaking is scheduled for this summer.

United Properties received approval from the City of Inver Grove Heights in 2007 for the industrial business park. When fully developed, the total project will include 470,672 sq. ft. of industrial space in five buildings. Plans for this first office warehouse building call for 24-foot clear ceilings.

The United Properties development team of Bill Katter and Brandon Champeau are overseeing the development project.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Martha Nevanen
952-893-7539
martha.nevanen@marquettere.com

MINNEAPOLIS (March 27, 2013) – United Properties announces that Blue Plate Restaurant Company has signed a lease at its Loose-Wiles building at 701 Washington Ave. N. in Minneapolis’ North Loop neighborhood. The 9,000-sq.-ft. restaurant will be called Loose-Wiles Freehouse and open September 2013.

This location for Blue Plate Restaurant Company – its eighth restaurant in the Twin Cities – will occupy the first-floor annex of the former biscuit bakery. Loose-Wiles Freehouse will serve breakfast, lunch and dinner and feature an on-site brewery. With its first floor location, the restaurant will incorporate the brewhouse into the design and also feature outdoor dining.

“This location has a hip, urban appeal with a perfect mix of downtown professionals and artists alike,” said Stephanie Shimp, partner, Blue Plate Restaurant Company. “The North Loop is becoming ‘restaurant-row’ for foodies.”

Jim Montez and Sonja Dusil, Cushman & Wakefield/NorthMarq, represented building owner United Properties. Blue Plate Restaurant Company was represented by Jeff Herman, Urban Anthology, Inc.

Once a commercial bakery and home of the Loose-Wiles Biscuit Company (later Sunshine Biscuits), the 120,000-sq.-ft. building is listed on the National Register of Historic Places.

United Properties purchased the historic building in July 2012 and is renaming it Loose-Wiles. Currently, the building has 80,000 sq. ft. available for lease.

About Blue Plate Restaurant Company
In 1993, founding partners David Burley and Stephanie Shimp opened their first neighborhood restaurant. Since then, Blue Plate Restaurant Company has opened a total of seven locations: Highland Grill, Edina Grill, Longfellow Grill, Groveland Tap, 3 Squares, Scusi and The Lowry. More at blueplaterestaurantco.com.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Martha Nevanen
952-893-7539
martha.nevanen@marquettere.com

Plans begin to renovate, reposition the 100,000-sq.-ft. building

MINNEAPOLIS (May 13, 2013) – United Properties announced today that it has closed on the acquisition of 505 Nicollet Mall, the former site of Neiman Marcus, in downtown Minneapolis. United Properties will work with Shea Design to formalize renovation plans for the 100,000-sq.-ft., four-story building, with the goal of creating a design consistent with the plans for the adjacent retail space. Renovation work will be complete by the end of 2013.

“We are excited to revitalize this part of Nicollet Mall and currently are evaluating a variety of tenant uses,” said Bill Katter, executive vice president, United Properties. “We will deliver a large block of space on Nicollet Mall at a time when the market is increasingly looking for these unique opportunities.”

Over the past three years, United Properties has increased its investment and development activity in Minneapolis with its historic renovations to the Ford Center, its acquisition of the historic Loose-Wiles building (located at 701 Washington Ave. N.) and its sale of the 10th and Nicollet site to Target Corporation. Additionally, the company has optioned the Shapco Printing site at 524 N. Fifth Street in anticipation of a redevelopment in the near future.

505 Nicollet Mall represents the company’s third building acquisition in Minneapolis since 2007; downtown office tower McGladrey Plaza at Eighth Street and Nicollet Mall has been part of United Properties’ investment portfolio since 1994.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Martha Nevanen
952-893-7539