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.

Mixed-use development to feature Minneapolis Fillmore Theater and Element by Westin hotel

MINNEAPOLIS, (April 4, 2018)  – United Properties has started construction on Target Field Station, its fifth project in Minneapolis’ North Loop neighborhood. The 150,000-sq.-ft. building will feature a Fillmore Theater and Element by Westin hotel. The project is expected to be completed fall 2019.

United Properties’ mixed-use development will cap the company’s commercial real estate development activities in the Target Field Station area, which includes the Ford Center, Be the Match headquarters and Caribou Coffee. The .74-acre site is adjacent to Target Field and a central light rail station.

An official groundbreaking ceremony is being scheduled for May 2018.

“We’re pleased to begin construction on Target Field Station, a new development that will bring an iconic music venue and hotel to the Twin Cities,” said Rick McKelvey, vice president of development, United Properties. “We envision Target Field Station as the destination for people coming to the theater, coming to see a baseball game, or simply looking for a convenient place to stay while visiting our city for family or business purposes.”

United Properties is working with Live Nation’s House of Blues Entertainment division to bring a Fillmore Theater to its mixed-use development at Target Field Station. The Minneapolis Fillmore Theater will occupy 36,000-sq.-ft. and feature an intimate, 2,000-guest-capacity venue for music performances.

United Properties is also working with Lion Hotel Group to develop a 156 room Element by Westin hotel above the Fillmore Theater. Element hotels serve both transient and extended stay guests. The hotel incorporates sustainable design features and eco-friendly practices. Spacious guestrooms have fully-equipped kitchens, spa-inspired bathrooms and the Signature Heavenly^® Bed. The hotel’s public spaces include a large fitness center, meeting room, and rooftop patio with a fire pit and exciting views of downtown.

The Minneapolis Fillmore will join seven other Fillmore theaters in the U.S. The interior will reflect the iconic Fillmore Theater in San Francisco, a legendary venue that opened in 1954 and holds a special place in rock history. The space will feature the Fillmore’s trademark ambiance, including a prominently featured chandelier in the center of the hall. The Minneapolis Fillmore is expected to host approximately 150 shows per year with an annual attendance between 150,000-200,000.

Project partners include Tushie Montgomery Architects and Weis Builders. Kim Meyer and Deb Carlson of Cushman & Wakefield represented Live Nation in the lease negotiations.

MINNEAPOLIS, (March 15, 2018)  – United Properties announced today that Brenda Arnold, assistant vice president, asset management, has been promoted to vice president, manager financial analysis, effective March 1, 2018.

A 34-year veteran of the firm, Arnold leads the United Properties analyst team in supporting both the stable and value-add/development portfolios. She plays a key role in all of the company’s property valuation, operating property AOP and strategic planning processes, and property level cash flow analysis.

“Brenda is one of the strongest real estate investment analysts in our marketplace,” said Eva Stevens, president and chief operating officer, United Properties. “Her industry knowledge and analytical skills are the backbone of our ability to make strategic decisions on the structure of our portfolio efficiently and with confidence.”

Arnold joined United Properties in 1984 as an accountant. Prior to her position as a senior investment analyst at United Properties, Arnold was a corporate account manager, working in real estate accounting involving office, retail, industrial and multi-family projects.

Arnold holds a bachelor’s degree in accounting/finance from Minnesota State University, Mankato.

VERO BEACH, Fla, (January 30, 2018)  – Watercrest Senior Living Group, based in Vero Beach, FL, and United Properties, with offices in Minneapolis and Denver, announce the groundbreaking of Watercrest Naples Assisted Living and Memory Care in Naples, Florida. Walker and Company will begin construction of the 128-unit, luxury senior living community this month, with scheduled completion in late Spring 2019.

Ideally located on Bellaire Bay Drive, Watercrest Naples will be a signature Watercrest product, offering 96 assisted living and 32 memory care apartments with resort-style service and world-class care. The architecture and design will boast a stunning promenade, fireplace, signature water wall, multiple dining options, pool, salon and spa, grand balconies, and Florida-style outdoor living spaces in a peaceful setting. Watercrest’s uniquely designed Market Street Plaza will showcase an ‘outdoor’ streetscape with numerous LifeBUILT programming touches; a highlight and crucial element of their multi-sensory memory care programming.  The building design is a collaboration of Watercrest Senior Living Group with D2 Architecture out of Dallas, and IDA out of Nashville.

“The senior living industry thrives upon the unique and successful collaboration of like-minded partners striving for excellence in quality, care and innovation,” says Marc Vorkapich, Principal and CEO of Watercrest Senior Living Group. “We celebrate this partnership with United Properties in providing the seniors and families in Naples with an exceptional and unprecedented senior living experience.”

With multiple senior living communities in development across the southeast, Watercrest principals, Marc Vorkapich, CEO, and Joan Williams, CFO, are setting new standards of quality for seniors and their families in the development of upscale senior living communities. This project marks United Properties entrance into the Florida senior housing market as the investor and co-developer with Watercrest Senior Living, the operator of the Watercrest Naples community.

Founded in 1916 and based in Minneapolis, United Properties has developed nearly 200 projects totaling more than 20 million square feet and nearly $1 billion over the last 30 years. Since 2004, United Properties has developed 15 senior housing communities in the Minneapolis/St. Paul and Denver markets, with seven more under development.

“United Properties is pleased to have the opportunity to serve seniors with our first community in Florida,” said Mike Dailey, senior vice president of development for United Properties. “We are proud to be partnering with Watercrest, an organization that shares our values and a commitment to excellence. We look forward to completing this signature project that will be home to many.”

United Properties has been creating deep roots in the commercial real estate industry for more than 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 information, visit http://www.uproperties.com or follow on Twitter at @UPDeepRoots.

Watercrest Senior Living Group specializes in the development and operations of assisted living and memory care communities, market repositioning and advisory services. Partnering with a wide variety of stakeholders such as land owners, real estate developers, investors, financial institutions, and REITs, Watercrest Senior Living Group focuses on its core strengths, operations management of assisted living and memory care communities and the development of servant leaders. For information, visit www.watercrestslg.com

Contact: Kathryn Vorkapich
Phone: 772-539-4553
Email: kathryn@chandonnicholas.com

United Properties tops Minneapolis St. Paul Business Journal’s Top Real Estate Developer list

We are proud to be ranked No. 1 in the 2017 Top Real Estate Developer list published this week by Minneapolis St. Paul Business Journal. This year marked the fourth year in a row that United Properties has topped the list. Co-presidents Bill Katter and Eva Stevens were both humble and proud when asked for their thoughts around our ongoing list status.

“We are honored to hold the position of Top Developer for the fourth consecutive year and attribute our success to our most important company asset, our people,” said Bill Katter, president and chief investment officer.

“We are immensely proud of our success in serving the Twin Cities market development needs. We operate in an exceedingly competitive space but our innovative, collaborative approach to creating deep roots with our clients and partners truly differentiates us,” said Eva Stevens, president and chief operating officer.

 

MINNEAPOLIS (January 4, 2018) – United Properties announced today that Richard Student, senior vice president of investments, has been promoted to executive vice president, asset management/finance, effective Jan. 1, 2018.

Student, a 23-year veteran of the firm, leads day-to-day business management for company assets and financing activities. Within asset management, he provides supervision and direction to property managers and leasing agents and is responsible for lease underwriting, lease negotiation and lease execution, as well as the management of property capital investment.

“Richard has been both instrumental and innovative in leading the financing activities for our portfolio and development projects,” said Eva Stevens, president and chief operating officer, United Properties. “We are pleased to recognize his successes and look forward to continued contributions.”

Student joined United Properties in 1995 as assistant vice president. Prior to United Properties, he held financing positions at Allstate Life Insurance Company, The Balcor Company and The Griffin Companies. Student holds a bachelor’s degree in business administration from Washington University and a master’s degree in business administration from the University of Wisconsin. He is a certified public accountant and serves on the board of directors for the Minnesota chapter of NAIOP.

DENVER (January 3, 2018) – United Properties announced today that Kevin Kelley, senior vice president of office and industrial development, has been promoted to executive vice president of Denver commercial development, effective Jan. 1, 2018. Kelley, a 13-year veteran of the firm, will now oversee all commercial development in Denver including office, industrial and retail.

“Kevin has demonstrated a high level of performance and commitment and has proven that he is a market leader,” said Bill Katter, president and chief investment officer, United Properties. “With Kevin at the helm guiding our commercial development activities in Denver, we expect our team will continue to demonstrate innovation, collaboration and success as a market leader.”

Kelley joined United Properties in 2005 as Vice President. Prior to joining United Properties, he was involved in the acquisition and development of retail centers with Miller Weingarten Realty in Colorado, and with Faison Associates in Charlotte, North Carolina.

Kelley serves on the NAIOP Colorado Chapter Board and held the position of NAIOP Colorado Chapter President in 2016. He also is an active member of the Urban Land Institute (ULI) Colorado and the University of Colorado Real Estate Council. Kelley holds a bachelor’s degree in history and an MBA in real estate from the University of Wisconsin – Madison.

Passport Hospitality, an Andrew Zimmern company, will partner on developing the market and food hall at 700 Nicollet Mall

MINNEAPOLIS (December 12, 2017) –Today 601w, United Properties, Mid-America Real Estate Group and The Telos Group announced the first official tenant of The Dayton’s Project: a food festival and market place lead by four-time James Beard Award-winning TV personality, chef, writer and teacher, Andrew Zimmern. In partnership with Robert Montwaid, creator and co-founder of Gansevoort Market in New York City, Zimmern envisions the market to be a mix of well-known food vendors, local treasures, fresh food purveyors, and food makers creating a market that will be the first of its kind in the Twin Cities.

Zimmern, the executive producer, creator and host of Travel Channel’s “Bizarre Food” franchise and co-owner of Passport Hospitality and Andrew Zimmern’s Canteen, has joined The Dayton’s Project team to create new experiences for downtown Minneapolis. The Dayton’s Food Festival & Market Place marks an exciting next step in the evolution of his food empire.

“There is so much energy around this project and this building, that it’s a thrill to continue the Dayton’s legacy, by contributing innovative ideas around food,” said Zimmern. “The Twin Cities food scene is constantly evolving, always exceeding the country’s expectations of a Midwestern city, and is a marvelous amalgam of many diverse culinary cultures. This project is a great example of what I think will bring a fresh perspective and authentic cultural influences to a beloved local landmark building.”

Zimmern and Montwaid will develop a 40,000-square foot market in The Dayton’s Project at 700 Nicollet Mall. The market will be split between the first and lower floors, offering a unique experience for building tenants, visitors and downtown workers and residents. Some of the premium experiences will include traditional food vendors, concierge food services for commercial tenants, a food business incubator, curated entertainment and activations all aimed at making Dayton’s Food Festival & Market Place the gold standard for experiential dining in downtown Minneapolis. Purveyors of fresh meats and seafood, butchers, bakers and artisanal producers of cheeses and other products will service customers looking to shop and take away foods, while interacting with the food vendors to offer a food adventure similar to many European food halls and markets.

“We’re proud to announce such an exciting first tenant for this project,” said Tricia Pitchford, Senior Vice President of Leasing for Mid-America Real Estate. “Pulling together a deal as large and iconic as this one demonstrates that the developers of this project can not only envision creative concepts, but also bring them to completion.”

“We are pleased to have Andrew and Bobby sign on to the project,” said Keith Ulstad, senior vice president of development for United Properties. “They bring an exciting vision of what the Dayton’s Market can become – a center for the community with terrific local cuisine and great spaces to dine and hang out. Together, they will ensure that we have just the right mix of top-notch food vendors participating in this exciting new offering.”

Zimmern and Montwaid are determined to preserve the essential relationship that all Minnesotans have with this famous space. “This is about creating a world-class global food hub in the single best address in the 5-state area. Downtown Minneapolis has been in need of a clubhouse like this, where all are welcome to come enjoy great food, first-class amenities and entertainment programming. Minnesotans and our out of town guests will be able to make this a regular stop every day if they choose to, with an ever-changing and diverse menu of offerings,” Zimmern says.

Montwaid, owner of Gansevoort Consulting and co-creator of Gansevoort Market in NYC, currently has 30 thousand square feet in the design/build phase with another 80 thousand square feet under development in three states. His operational expertise and understanding of local markets make Gansevoort consulting one of the most sought-after market operators in the nation.

“My love of food and gathering places was born from a big family and large family dinners with over 30 people. I’ve always viewed food as a social and familial connector. A place where the love of food could develop and grow lasting memories,” says Montwaid.

The food market is projected to open in mid-2019. For more information on the project, visit www.thedaytonsproject.com.

Media Contacts:

 Cailin Rogers

crogers@tunheim.com

612-806-8737

Owen Truesdell

otruesdell@tunheim.com

About Andrew Zimmern
Andrew Zimmern, a four-time James Beard Award-winning TV personality, chef, writer and teacher, is widely regarded as one of the most versatile and knowledgeable personalities in the culinary world. As the creator, EP and host of Travel Channel’s Bizarre Foods series, Andrew explores cultures in more than 150 countries as he shines the spotlight on impactful ways to think about, create and live with food. The 200^th episode of Bizarre Foods premiered October 19^th, 2015. His newest series The Zimmern List will premiere on the Travel Channel in spring 2018. Chef-in-residence and contributing columnist to Food & Wine magazine, Andrew has also authored 3 books. He is the co-founder of Andrew Zimmern Canteen, at US Bank Stadium and Target Field in Minneapolis, and Kauffman Field in Kansas City. More at www.andrewzimmern.com.

About 601w Companies
The principals of 601w Companies oversee one of America’s leading private real estate acquisition, ownership, development and management portfolios in the country. Over the past 25 years, 601w has acquired many substantial and well-known commercial properties throughout the country, aggregating 50 million square feet, with a collective value in excess of $8 billion. In relation to these deals, 601w has raised more than $2 billion in equity, mostly from longstanding investors, and has consummated transactions involving 32 major office buildings, including 13 in Manhattan and 12 in Chicago.

About The Telos Group
The Telos Group, LLC provides leasing, marketing and strategic consulting to real estate owners nationwide. Telos employs a goal-driven process to create entrepreneurial solutions customized for each assignment. As Chicago’s only dedicated owner representation firm, it has been the leader in shaping the evolution of office space for innovative businesses. Telos represents a portfolio of over 27 million square feet encompassing historic to trophy buildings owned by diverse ownership groups, from entrepreneurial investors to international institutions. In addition to the Dayton’s Project, Telos projects include the current redevelopments of The Willis Tower in Chicago and the Post Office building in Chicago as well as the recent repositioning of Prudential Plaza in Chicago.

About Mid-America Real Estate – Minnesota, LLC
Mid-America Real Estate – Minnesota LLC is a member of Mid-America Real Estate Group and a ChainLinks affiliate. The company is the Midwest’s leading full-service retail real estate organization with offices in Minneapolis, Oakbrook Terrace, Chicago, Milwaukee and Detroit.  For more information, call (952)563-6600 or visit www.midamericagrp.com.

Interviews available upon request
Andrew Zimmern| Food Works, Founder
Press Contact: Willie Norkin, The Brooks Group | willie@brookspr.com | 212.768.0060

Tricia Pitchford| Mid-America Real Estate Group, Sr. Vice President of Leasing
Press Contact: Cailin Rogers, Tunheim | crogers@tunheim.com | 612.806.8737

MINNEAPOLIS (November 27, 2017) – United Properties announced today that Chris Pohlad has joined the company as vice president of asset management.

In his new role, Pohlad will manage a portfolio of the company’s stable operating investments, working with the asset management team to set and implement asset level strategy to create and maintain value within the portfolio. He will serve as a member of the tenant credit and charitable giving and community enhancement committees and report to Eva Stevens, president and chief operating officer.

“We are very excited that Chris will be joining United Properties,” said Stevens. “Chris is a rising talent in our industry and we look forward to his contributions to our investment and asset management team.”

Pohlad joins United Properties after a five-year career with NorthMarq Capital. Most recently, Pohlad was vice president of production in the firm’s Seattle office, where he provided financing for commercial real estate developers and owners in the greater Puget Sound region. He is a third-generation member of the Pohlad family involved in the family’s business enterprises. With the move to United Properties, Pohlad and his family will relocate to the Twin Cities.

Pohlad holds a Bachelor of Science degree in politics and government from the University of Puget Sound in Tacoma, Washington.

PRESS CONTACTS

Sheila Thelemann,
Director Marketing
United Properties
952.837.8654
Sheila.Thelemann@uproperties.com