AUTHORED BY COLE STERR

Innovation has always been at the forefront of our agenda. Whether we’re developing a new property or giving back to the community, strengthening communities and exercising a forward-thinking dynamic to the industry sets us apart.

One unique example of channeling innovation is our interest in repurposing materials when developing or repositioning projects. Let’s look at some key – and cool – examples of properties where those materials have been, or are currently being, transformed to enrich a building’s aesthetic.

Overlap of Organizational Impact

Take the Be The Match (BTM) headquarters in the North Loop, for example. Three tables within the BTM building were repurposed from fallen trees by Wood from the Hood (WFTH), a local business that reclaims discarded trees from urban neighborhoods to create “beautiful, high-quality wood products.” One of which is a 42-foot Silver Maple conference table in the employee gathering space (pictured below). The other two tables are located in another gathering space and the 5^th Street Station restaurant.

Kristine Fisher, the Director of Facilities Management and Real Estate for BTM, explains that the recommendation to use recycled materials for the property came from the interior architect. Supporting a local business with a purposeful cause seemed like the perfect choice for BTM, an organization that also has major influence and acts for the greater good of humanity. Collaboration between the two companies resonates well with the space as the repurposed wood complements the interior of the building, as well as the mission of the national marrow donor program.

WFTH is an innovative way to utilize trees that might otherwise go to waste. This creative, local business even crafted wood products from fallen trees from the 2011 North Minneapolis tornado. With their work, they are able to decrease urban waste and raise consumer awareness about tree removal. WFTH also supplies green materials to builders and architects to potentially strengthen the communities where these trees once lived.

A more detailed look at Wood from the Hood’s work can be seen on its website.

Maintaining Historic Charm

Other UP developments have ties to repurposed materials, too.

At the Nordic construction site, old printing plates were discovered and will now be displayed as art in the front lobby of the WELL-registered building. This discovery will add character and historical flavor to the multi-tenant establishment.

At the Kickernick Building, described as a “diamond in the rough” by VP of Construction Management Bill Jundt, hidden gems continue to be uncovered throughout its construction process. Built in 1896 and previously a women’s lingerie factory, all the wood is currently being returned to its original luster. Repurposing the building itself and exposing its original materials will strengthen its overall aesthetic and foster a stronger working community.

A Repurposed Purpose

Repurposing materials can be seen in different ways, as well.

Before United Properties began developing The Venue in Chanhassen, the former Frontier Building Center that occupied the site in the 1960s, 70s, and 80s supplied lumber to construct homes and establishments throughout the city. Throughout its time there, the Frontier Building Center strengthened the Chanhassen community with its lumberyard, multi-tenant leasing, and entertainment venues.

Last April, the Chanhassen Fire Department and the Tri-City SWAT Team received permission from United Properties to use the space for a different purpose than what it was once known for: law enforcement training. To simulate realistic situations and scenarios, the two teams conduct training sessions in buildings that will eventually be demolished. In this case, the Frontier Building Center was repurposed to accommodate their training needs and ultimately strengthen Chanhassen.

The in-process Venue Apartments will now take over as the land’s main tenant, sitting on land that has left a lasting legacy to the city of Chanhassen.

The Impact

The commitment to repurposing materials has profound impact on the communities where we live and work; it’s more than just reusing materials for a new development. It’s about preserving memories, enhancing historic charm, supporting local businesses, protecting the environment, and of course, strengthening our communities.

AUTHORED BY COLE STERR

Asset Management and Analyst Intern Nusrat Chowdhury came to Minnesota in the fall of 2016. Her mother, who disapproved of her moving across the world from Bangladesh, told her not to tell anyone that she was a practicing Muslim. Never feeling uncomfortable to disclose her religion, Chowdhury embraced her new life in Minnesota and put down new roots in a place she’d call home for the rest of her academic career.

Chowdhury’s Deep Roots

Chowdhury’s roots were established in Chittagong, Bangladesh, a city that maintains traditional beliefs. For example, women are not encouraged to pursue any higher education before marriage, study abroad, or have a career. Chowdhury decided to imagine the possibilities of rejecting societal norms and took a chance to fulfill her dream of receiving a college education in the United States, despite her family’s apprehension.

As a young girl, Chowdhury received strong pressure not to earn a higher education and instead, get married and stay in the home. “The society thinks that having a career is not a vital part for a woman,” she explains.

That said, Chowdhury’s grandfather, a big influence in her life, had always encouraged her to pursue a post-graduate collegiate route. Eventually, Chowdhury was accepted into the Asian University for Women in Chittagong, an independent, international institution that accepts 100-200 young women from 14 different Asian countries each year. At the university, Chowdhury developed a passion for economics. She also connected with young women from all over Asia, learning how diverse each Asian country represented was. Chowdhury describes her time at the university as “one of the most crucial” parts of her life because it supplied her with the ambition and empowerment to follow her passion of receiving a post-graduate education.

Chowdhury feels most happy when her work is contributing to some sort of societal change; remapping opportunities for marginalized communities and identities is where her passion lies. During her time with the Asian University for Women, she spent time working on advocacy campaigns to make feminine hygiene products more accessible to low income individuals. She also became very interested in working with transgenders, saying that they are an “untapped social circle that nobody likes to work with [in Bangladesh].”

From Chittagong to Minneapolis

Coming to the U.S. was by no means an easy transition for Chowdhury. According to her, the biggest culture shock that she experienced was how hard it was to make friends here; the individualist culture was quite the juxtaposition to Bangladesh’s collectivist culture. Upon meeting someone for the first time in Bangladesh, you’d most likely be invited into their home for a cup of tea. That’s simply not the case here in the U.S., a difficult societal norm for Chowdhury to adopt.

Adapting to the individualist culture was not the only challenge for Chowdhury; her identity as an international student in Minnesota engendered some more unexpected obstacles. As Chowdhury was looking for internships in the U.S., she found that many businesses were (and still are) unable to hire international students, which forced her to focus solely on her studies. It wasn’t until she applied for a position as an Asset Management and Analyst Intern here at United Properties that she was able to enter the American work force.

Early on, Chowdhury also discovered a disconnect between domestic and international students. Most of Chowdhury’s friends are international students given that they share a common bond of ubiquitously not feeling at home. To help improve support and resources for the international student community, Chowdhury has been a member of the U of M’s International Student Advisory Board. She and nine other student members offer feedback and suggestions aimed to improve the college experience of international students. Since coming to the U.S., Chowdhury has learned that building relationships is important when making a foreign place feel like home.

Imagining the Possibilities

Nearly two years later, Chowdhury will begin her last semester at the University of Minnesota this fall. She will work as one of four research assistants at the Heller Hewitt Economics Institute at the university.

For the future, Chowdhury plans to pursue a master’s degree in Economics. She also plans to continue engaging in work that will positively change society and supply opportunities to those who are less fortunate.

AUTHORED BY COLE STERR

United Properties’ CFO Eric Skalland and his wife Amanda spent 80 days in the NICU at North Memorial Health Hospital in Robbinsdale, MN after their daughter, Elin, was born 12 weeks premature. Those 80 days spent in the hospital were filled with uncertainty, worry, and apprehension. “The whole time you’re in the NICU, you never know when you’re going to take your child home,” Skalland explains.

On June 26, 2016 – an “awesome day,” Eric remembers – they received the news that they could take Elin home. As they watched Elin grow and thrive, they knew they wanted to give something back to the hospital that had given them so much.

When they heard about a program called “Beads of Courage” from a NICU nurse, they thought that bringing the program to North Memorial’s NICU staff and parents would be a way to leave a lasting legacy. The Skallands contacted the North Memorial Foundation to jumpstart the Beads of Courage program in the NICU in September of 2017, and the rest is history.

One Bead at a Time

Beads of Courage is used in many children’s hospitals nationwide to help families see the positives of their child’s treatment journey. Using colorful beads as a daily reminder of courage and hope, each day a bead is added to a string to represent a milestone that has happened. Whether it’s something as eventful as getting off the respirator or simply just living another day in the hospital, the beads serve as a physical representation of their time in the NICU, as well as a reminder of how much they’ve overcome.

According to Skalland, the Beads of Courage program helps “foster a human side of a relationship between doctors, nurses, and families.” One bead at a time, the families can better communicate with the medical staff about what their child is going through and how they can stay positive throughout the process. “There’s not always a lot of opportunity to think about the positives, and there were many days where all we thought about were the negatives,” says Skalland. With a recurring daily reminder about something positive, families are better able to stay positive themselves, celebrate milestones with their child’s nurses and doctors, serve as an advocate for their child, and overall have a more positive experience in the NICU.

The Skalland Legacy

The program launched in April of 2018, and the Skallands will receive quarterly reports about the program. Additionally, they will visit the NICU periodically to encourage families to stay positive and be a strong advocate for their baby.

According to Skalland, the program is doing what it’s supposed to be doing at the hospital: bringing nurses, doctors, and families together to remind them of the positive aspects of their child’s treatment journey.

Today, Elin is a happy, thriving two-year old. And with help from United Properties and the Pohlad Companies, the Skallands have agreed to fund the program for a minimum of three years, continuing to leave a lasting legacy and provide strength and comfort to other families who, like theirs, spent long days in the NICU department.

More information on the Beads of Courage program can be seen on their website.

AUTHORED BY COLE STERR

“When I walk into a space, I see pictures before I even take them.”

Meet one of our photographers: Bob Perzel. As a commercial photographer who has been in the business for more than 30 years, Perzel travels from coast to coast (as well as internationally) capturing the architectural beauty of the exteriors and interiors of office spaces, skyscrapers, industrial buildings, and other sites.

Snapshot of the Past

His story begins at 14 years old when he had received his first camera, a Canon. After experimenting with different types of cameras, Perzel then went on to study photography at the University of Minnesota Twin Cities. Later, he joined the Marine Corps and went to work for a delivery firm soon after, eventually investing his passion into his own photography business. By day, he was a professional photographer, but by night, he was a delivery guy.

Getting started with the photography business and gaining clients wasn’t a walk in the park, Perzel remembers. For example, as Perzel was looking for clients, he had called the head of marketing at the Mall of America for over a year. His phone calls started out once a month for five to six months, and then he started calling every couple of weeks. Those couple of weeks turned in to every week and then eventually every day. Perzel was told that he was one of the “most persistent photographers” by the head of marketing, and ultimately, landed the client. “A ‘no’ is one step closer to a ‘yes’,” Perzel said, “…persistence pays off.”

The Meat and Potatoes of His Work

Perzel says that his favorite sites to photograph are well-designed, colorful office and commercial spaces. He loves to see architects stretch their creativity and having the chance to capture that creativity in a photograph “sets him on fire,” especially interior spaces. He also says that these spaces are the most challenging to photograph. Calling it the “meat and potatoes” of his photography work, interiors are the most difficult because of the variety of lighting that the space reflects, which then affects how the photo is produced. Controlling and managing the lighting so that the space looks as it should be is critical to not only taking a photograph, but the editing process as well.

Having produced nearly half a million film negatives and possessing over 7 terabytes of storage (that’s 7,000 gigabytes!), Perzel dedicates the necessary time to ensure a client is happy. With an extensive editing process that can take 16 hours up to a week, “pleasing the client is the biggest thing you have to do [as a photographer],” Perzel told me.

Imagining a Future

Perzel doesn’t do it alone, of course. His wife, Lynn, has been a pivotal team player with the photography business. Lynn is the office manager and handles all the books, taxes, and paper work for the business, complementing Perzel as his “rock.” According to Perzel, if it weren’t for Lynn, this business wouldn’t be around.

With no vision of retirement, Perzel will continue to pursue his photography passion, continuously imagining the possibilities of how different architectural spaces can be photographed and shared with the world.

A further look at Perzel’s photography can be viewed on his website.

AUTHORED BY COLE STERR

Every day at 9 a.m., Martha Navis walks into our office with a smile on her face, creating deep roots as an administrative assistant.

Navis, who has been with us for almost five years, takes a 45-minute bus ride from Bloomington, Minn. to downtown Minneapolis to perform her duties as the “Admin’s admin,” as she likes to call herself. She starts her day by scoping out the office and ensuring that our space is ready to go for the day. Throughout the rest of the day, she is then available for anyone who needs her help whether it’s the developers, the marketing, accounting, or asset management teams. At about 4 p.m., Navis wraps up her day and takes the 45-minute bus ride back to Bloomington.

Navis’ Deep Roots at UP

Navis created deep roots here at United Properties five years ago when she had heard of a job opening for a receptionist position. After her job as a Group Sales Coordinator and Event Planner of 13 years at Hyland Hills Ski Area was coming to an end, she decided that she would imagine the possibilities of taking on a new role and create new roots with another company. Nearly two weeks later, Navis had transitioned into her receptionist position, and the rest is history.

Navis says that her greatest memory while working at United Properties was the transition from the old Bloomington office into the downtown setting. She explains that it was a “big change for everyone” but in a positive way; she stated that “the energy of the company changed in a good way a lot.” According to Navis, more people are eating at the café during the lunch hour, coming out of their way to visit with one another, laughing and chatting throughout the day, and overall senses a more exciting office atmosphere.

A Lasting UP Asset

Upon reflecting on her growth in her position with us, Navis explained that she has become more comfortable with the process of whatever it is that she’s doing. For example, in the beginning of her United Properties journey, she was concerned that a monthly financial would be upside down while using the binding machine, but now she realizes that things can always be done again. Her five years at United Properties has also taught Navis plenty about real estate development and the Pohlad Companies.

When asked if there was anything that people wouldn’t normally think she did in her position, she said that she helps everyone. From the developers and asset managers to the marketing and accounting teams, Navis is of great importance to this company. With her presence, she has undoubtedly instilled deep roots in her role.

AUTHORED BY COLE STERR

On Thursday, May 24, United Properties employees volunteered for Habitat for Humanity’s Age in Place Program – a program designed to support older low-income homeowners who wish to age peacefully in the comfort of their own homes. The Age in Place program provides services such as seasonal chores, yardwork, and other home modifications so that these homeowners can continue to live safely and affordably. United Properties employees were able to assist Teri, a thifty karaoke singer, and Amelia, a lifelong musician.

Getting to Know the Age in Place Recipients

Teri, a homeowner who discovered Habitat for Humanity’s Age in Place program last fall, was ecstatic to receive help to maintain her yard for the summer. Living in the same house for more than 50 years, Teri has undoubtedly created deep roots within the Twin Cities community. She worked as a school bus driver in the Blaine School District for nearly 30 years, a job she fell in love with due to the children she drove to school.

Teri had told us that in her spare time, she loves to sing karaoke at various VFWs, and “Walk Like an Egyptian” is her personal favorite karaoke song. She also loves to swim; never travelling outside of Minnesota before, Teri says it’s her dream to travel to the Wisconsin Dells and enjoy the waterslides there. An avid thrift shopper, she goes to a Goodwill Retail Store or other garage sales almost every day trying to find the best deals and additions to make her living space feel more like home.

As someone who doesn’t enjoy the indoors, Teri is extremely grateful for the help from Habitat for Humanity’s Age in Place Program. “It made my life so easy, worry free!” she explains. She currently lives in the house with her cat Sunny, and she says that her garden is her favorite thing about the house.

Amelia, who is about 90 years old, had also lived in her home for a large portion of her life – nearly 40 years. She was a lifelong musician, having played piano and organ in her church and attending the MacPhail Center for Music in Minneapolis. She also has two pianos in her house so that she can channel her musical outlet in the comfort of her own home.

The Impact of Volunteering

The United Properties employees have certainly helped contribute to the message of “strengthening communities” with the Age in Place volunteering program. By continuing to volunteer and assist those who are less able, United Properties can help people feel more at home by capitalizing on efforts that will directly transform and strengthen people’s lives for the better.

Company plans search for a replacement

MINNEAPOLIS, (June 28, 2018)  – Eva Stevens, president of United Properties Investment (UPI) and chief operating officer, says she will retire as of Dec. 31, 2018, ending a 17-year tenure with the company and a 40-year career as a trailblazer in the commercial real estate industry.

Since beginning her commercial real estate career in 1978, Stevens has been a standout professional, rising through the ranks and succeeding at a time when few women led commercial real estate firms.

Since 2015, Stevens, 63, has co-led United Properties with Bill Katter, president of United Properties Development and chief investment officer. In her role as president and chief operating officer of UPI, Stevens is directly responsible for portfolio and asset management of United Properties’ 7 million sq. ft. of owned assets. She also oversees all aspects of company operations, including accounting, financial analysis, insurance, IT, governance, administration and human resources and is a member of the Investment Committee and the Board of Governors.

“Eva has been an outstanding leader in our organization since day one,” said Bert Colianni, CEO, Marquette Companies, LLC, the Pohlad family company that in turn owns UPI. “We look forward to her continuing leadership and guidance as we move into the second half of an important year for United Properties. And, when the time comes, we will wish her well in her retirement.” The company plans to search for a replacement, he said.

“I have loved working closely with Eva on all aspects of United Properties as co-presidents,” Katter said. “She is one of best and brightest commercial real estate leaders in the country today, and it will be difficult to find someone who can fill her shoes.”

Within United Properties, Stevens has led a number of innovative initiatives designed to drive productivity, increase transaction efficiency and reduce financial risk. A natural teacher, she has been a champion for developing the next generation of leaders for the organization as well as mentoring many outside of UPI.

When Stevens joined the real estate industry and didn’t see many women at industry events, she joined a small women’s networking group – Women in Real Estate – that still meets monthly to this day. She has been an active member of NAIOP, having served for several years on boards and committees at both the local and national levels. The NAIOP Minnesota chapter honored Stevens with the 2014 President’s Award, the association’s highest honor for individuals.

In the Twin Cities community, Stevens has parlayed a personal experience fighting cancer into a mission of helping others. A 29-year breast cancer survivor, she led the charge in the real estate community to help build Gilda’s Club Twin Cities, serving as a member of the Board of Directors and chair of the Clubhouse Committee. Today she continues her board involvement with Gilda’s Club Twin Cities, and recently joined the board of CommonBond Communities.

“I have absolutely loved my job, the company and, most of all, my colleagues at United Properties,” Stevens said. “But it’s time for me to make room for the next generation of leaders ready to embrace rapid change in our industry with curiosity, agility and energy. I look forward to spending more time with my family and nurturing my interests outside of work.” She is looking forward to continuing her nonprofit board work; fishing with her dad; riding her horse, Doogin; and spending time with her husband, Dick, as he builds their new home in Ely, Minnesota.

MINNEAPOLIS, (May 31, 2018)  – Renovation work on the historic Kickernick building in the Warehouse District of downtown Minneapolis kicked into full gear this spring with an extensive lobby renovation plan.

The overall renovation of the 150,000-sq.-ft. building calls for a historic renovation to enhance its existing brick and timber construction and return its historic charm. Building renovation plans include the removal of non-original dropped ceilings and drywall to expose original materials, as well as the addition of a new lobby area, new elevators, and newly renovated bathrooms and common corridors. The new lobby atrium will be filled with open seating and collaboration stations and feature a more prominent entryway off First Avenue. Bike storage and showers will also be added to the first floor.

Renovations will be complete in Q3 2018. To date, the sixth floor renovation has been completed, with 22,108 sq. ft. of office space – the entire floor – available for leasing now.

“This renovation gives us a rare opportunity to imagine new possibilities for a historic building that has been a part of the Minneapolis skyline for a century,” said Gordy Stofer, vice president of office development at United Properties. “Kickernick has its own compelling character, which is impossible to recreate, and our renovation simply enhances that character, adding creative and appealing new office spaces that are unique to Minneapolis.”

Kickernick is located in the downtown Minneapolis Warehouse District at 430 N. First Ave., with convenient access to downtown, Target Field, the Warehouse District and light rail. At 150,000 sq. ft., the building is 75 percent occupied with existing office and retail tenants, and retail/restaurants on the main floor, including Brothers Bar & Grill.

“We’ve had great success with other renovations of historic buildings in Minneapolis, including the Ford Center and Loose-Wiles,” said Stofer. “Similarly, the Kickernick building has a rich architectural history that we look forward to celebrating with this renovation. It is also part of our ongoing commitment to help maintain the relevance of historic buildings in the Warehouse District and North Loop.”

The seven-story Kickernick building was constructed in 1896 and was originally home to the North Star Boot & Shoe Company for use as a factory and warehouse; an addition was built in 1902. The building was later occupied by lingerie company Kickernick, giving it its current name.

In addition to United Properties and Second City Real Estate, the project team includes architect Studio BV, general contractor Mission Construction, Inc. and leasing agent Transwestern.

About United Properties
United Properties has been creating deep roots in the commercial real estate industry for 100 years. The company imagines new possibilities in real estate to help strengthen communities and create lasting legacies. United Properties provides market expertise for ground-up development, redevelopment and acquisitions of value-add and stable investments. The company invests in and develops office, industrial, retail, mixed-use and senior housing properties. United Properties is owned by the Pohlad Companies and is headquartered in Minneapolis, with an office in Denver. For more information, visit www.uproperties.com or follow on Twitter at @UPDeepRoots.

MINNEAPOLIS, (May 31, 2018)  – Renovation work on the historic Kickernick building in the Warehouse District of downtown Minneapolis kicked into full gear this spring with an extensive lobby renovation plan.

The overall renovation of the 150,000-sq.-ft. building calls for a historic renovation to enhance its existing brick and timber construction and return its historic charm. Building renovation plans include the removal of non-original dropped ceilings and drywall to expose original materials, as well as the addition of a new lobby area, new elevators, and newly renovated bathrooms and common corridors. The new lobby atrium will be filled with open seating and collaboration stations and feature a more prominent entryway off First Avenue. Bike storage and showers will also be added to the first floor.

Renovations will be complete in Q3 2018. To date, the sixth floor renovation has been completed, with 22,108 sq. ft. of office space – the entire floor – available for leasing now.

“This renovation gives us a rare opportunity to imagine new possibilities for a historic building that has been a part of the Minneapolis skyline for a century,” said Gordy Stofer, vice president of office development at United Properties. “Kickernick has its own compelling character, which is impossible to recreate, and our renovation simply enhances that character, adding creative and appealing new office spaces that are unique to Minneapolis.”

Kickernick is located in the downtown Minneapolis Warehouse District at 430 N. First Ave., with convenient access to downtown, Target Field, the Warehouse District and light rail. At 150,000 sq. ft., the building is 75 percent occupied with existing office and retail tenants, and retail/restaurants on the main floor, including Brothers Bar & Grill.

“We’ve had great success with other renovations of historic buildings in Minneapolis, including the Ford Center and Loose-Wiles,” said Stofer. “Similarly, the Kickernick building has a rich architectural history that we look forward to celebrating with this renovation. It is also part of our ongoing commitment to help maintain the relevance of historic buildings in the Warehouse District and North Loop.”

The seven-story Kickernick building was constructed in 1896 and was originally home to the North Star Boot & Shoe Company for use as a factory and warehouse; an addition was built in 1902. The building was later occupied by lingerie company Kickernick, giving it its current name.

In addition to United Properties and Second City Real Estate, the project team includes architect Studio BV, general contractor Mission Construction, Inc. and leasing agent Transwestern.

Retail pad sites round out industrial developments, creating new “next gen mixed-use” projects

DENVER, (May 29, 2018)  – United Properties is finding success with single-tenant build-to-suit projects, making it one of the most active retail developers in the Denver area. Over the past 18 months, United Properties has built a pipeline of 20 acres of retail, primarily through the combination of developing of free-standing retail pad sites along the perimeter of larger industrial developments.

“Based on my background developing retail centers I have always been drawn to sites that offer excellent visibility and access along major commercial arterials. Most industrial tenants also want convenient access to major thoroughfares as well, so it turns out that retail and industrial generally want similar site attributes but at a different scale” said Kevin Kelley, executive vice president of Denver commercial development at United Properties.

This growth area for the commercial real estate development company reflects shifts in both retail and industrial development trends.

“We’re calling this the ‘next gen mixed-use,’ which are sites that blend light industrial, office and retail in one development,” said Alicia Rhymer, vice president of retail development at United Properties. “Workers want more convenience, and retailers want to be where the customers are – we just put the two of them together,” said Rhymer.

United Properties has three current projects at various stages of development that reflect this next generation of mixed-use developments.

Coming Soon: United Properties recently closed on a site at 38^th Avenue and Tower Road in Aurora to develop Tower Business Center; three acres of the site will be used for retail pad sites, complementing 450,000 sq. ft. of industrial space. 7-Eleven and Ronny’s Car Wash have each signed on for one-acre pad sites at this location. An additional pad is still available.

Under Construction: Enterprise Business Center (EBC), located at East 40^th Avenue and Central Park Boulevard in Stapleton, features 3.3 acres of retail in front of this large flex/industrial development. Retail tenants for this site will include a drive-thru Starbucks, Cheba Hut, F45 Training, Fuzzy’s Taco Shop and a New Horizon Academy. The retail component of EBC is slated to be complete in September 2018.

Moving In: In April, 7-Eleven and Swisslog moved into United Properties’ Interpark development, a flex/industrial project that will comprise 240,577 sq. ft. across two buildings once it’s completed in 2018. Located just off US-36 in Broomfield, the project is United Properties’ first development in the northwest corridor. Five acres of additional retail pads are still available. More information at www.interparkbroomfield.com.

At 87^th Parkway and Indiana Street in Arvada, United Properties is currently developing more than six acres of commercial land, consisting of 7-Eleven and Starbucks, to be completed July 2018. Nearly four acres of additional retail pads are still available.

MINNEAPOLIS, (April 9, 2018)  – RBC Wealth Management today announced the latest investment in its U.S business: a new, signature U.S. headquarters building in downtown Minneapolis.

The firm, which employs more than 5,000 people across the country, including 1,500 in the Twin Cities, signed a lease at United Properties’ 33-story, one million sq. ft. mixed-use Gateway development, located on 3^rd Street South, between Nicollet and Hennepin Avenues. The development gives a nod to the historically named Gateway District, the “gateway to Minneapolis,” which is centered at the convergence of Hennepin, Nicollet and Washington Avenues.

“The city of Minneapolis has been our home for many decades and we look forward to continuing to build our legacy here,” said Michael Armstrong, CEO, RBC Wealth Management – U.S. “Our move to our future home — a sustainably built, state-of-the-art building — will be a symbol of our firm’s growth and commitment to the wealth management business in the U.S.”

Under terms of the agreement, RBC will occupy approximately 310,000 sq. ft. of space in Gateway, which also includes residential condos, a five-star hotel, a fitness center and outdoor pool, street-level retail, underground parking and a private outdoor terrace for RBC colleagues. Building plans also include connectivity to the Skyway system.

“We are honored that RBC has selected Gateway as its new corporate home, and we look forward to working closely with them in the months ahead to deliver an iconic headquarters befitting of their stature as a financial industry leader,” said Bill Katter, president and chief investment officer, United Properties.

“Today’s announcement marks a significant development for this landmark project in downtown Minneapolis, and we are moving forward with confidence on the next steps of the planning process,” Katter said.

Next steps in the planning process include completing the project design and receiving full project approval during the summer of 2018. Katter said he expects construction to begin spring 2019.

The 1,500 Minneapolis RBC Wealth Management-U.S. and RBC Capital Markets employees currently located at RBC Plaza will remain there until the new headquarters location is ready in 2021.

About RBC Wealth Management-U.S.
In the United States, RBC Wealth Management operates as a division of RBC Capital Markets, LLC. Founded in 1909, RBC Capital Markets, LLC is a member of the New York Stock Exchange, the Financial Industry Regulatory Authority, the Securities Investor Protection Corporation, and other major securities exchanges. RBC Wealth Management has $348 billion in total client assets with approximately 1,800 financial advisors operating in 200 locations in 40 states.