Dramatic redevelopment includes iconic retail, interactions with Nicollet Mall and modern office space

MINNEAPOLIS (October 23, 2017) – Developers from 601w, the Telos Group and other partners on the project today shared renderings of the renovation that is planned for The Dayton’s Project, in the historic Dayton’s building located at 700 Nicollet Avenue. 601w, majority owners of the building, together with their minority stakeholders and project partners, including the Telos Group, United Properties and Gensler, envision a unique development that will leverage the building’s location and legacy to create a world-class business offering.

“It’s a rare find in our business to discover such a historically significant building in a prized location with such world-class potential as this one,” said Brian Whiting, President of the Telos Group. “We are proud to be sharing our vision for what this beloved property will bring to commerce and this community for generations to come.”

Located in the heart of Nicollet Mall and connected to skyways, light rail and buses, The Dayton’s Project is a downtown location unlike any other. The 11-story, 1.3 million square foot building has been redesigned by architects at Gensler to feature an innovative food hall, retail space and restaurants on the first and second floors of the building, drawing in people from both the skyway and Nicollet Mall. Floors three through eleven will feature modern office spaces, including outdoor tenant-exclusive rooftop amenities and an outdoor area with fire pits and a garden. In addition, plans for the building include a lounge, gym and library.

“We are seeing strong interest in the project from potential tenants, and expect to reach an agreement with a signature food hall tenant that we believe will be a great addition to downtown Minneapolis,” said Bill Katter, president and chief investment officer of United Properties. “This move will be a key first step in attracting other high caliber tenants that will round out the project.”

Many original features of the building will be retained and restored, including the art deco bathrooms and the JB Hudson space.

“This project reflects the historical significance of the building while adding a modern twist to maximize functionality,” said Steve Bieringer, Senior Design Manager at Gensler Minneapolis. “Our team is proud to revitalize this building to its original status as the heart of this city.”

Currently, about 80 construction workers are on site every day beginning initial stages of demolition and abatement work, led by the development’s general contractor, Gardner Builders. The project will employ all union labor in construction and will create an estimated at least 400 construction jobs.

Leasing for the property is currently underway. Anticipated completion date for the public realm redevelopment is set for summer 2019; in the office space, there are opportunities for early tenancy.

For updates and more information, visit daytonsproject.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 Telos
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 Gensler
Gensler is a global architecture, design and planning firm with 45 locations and more than 5,000 professionals networked across Asia, Europe, Australia, the Middle East and the Americas. Founded in 1965, the firm serves more than 3,500 active clients in virtually every industry. Gensler designers strive to make the places people live, work and play more inspiring, more resilient and more impactful.

Interviews available upon request

Brian Whiting | The Telos Group, President
Press Contact: Cailin Rogers, Tunheim | 952.851.7270

Bill Katter | United Properties, President
Press Contact: Sheila Thelemann, United Properties | 952.837.8654

Steve Bieringer | Gensler Minneapolis, Senior Design Manager
Press Contact: Kimberly Beals: Gensler Public Relations | 312.577.7145

Latest project is the fifth for the developer in North Loop

MINNEAPOLIS (August 24, 2017) – United Properties has broken ground on The Nordic, a 385,000-sq.-ft., mixed-use development project in Minneapolis’ North Loop neighborhood. Located at 729 Washington Avenue North, the 10-story building will be home to office, residential and retail tenants by January 2019. This will be United Properties’ fifth North Loop project and is the largest project yet to be undertaken by the company in the North Loop.

Digital marketing and analytics agency Ovative/group has signed a lease for 30,000 sq. ft. and will be the initial anchor tenant at The Nordic. The firm will relocate from a smaller space in the nearby Loose-Wiles building, also owned by United Properties.

“The Nordic will deliver many sought-after amenities to this already-vibrant area, including additional parking, multiple green spaces and public areas. It’s another way we’re creating deep roots by strengthening this neighborhood,” said Gordy Stofer, vice president, office development, United Properties. “We continue to see strong interest from office tenants and expect we’ll have more to announce in the near future.”

The Nordic-inspired, modern warehouse-style building is designed to be the living room and backyard of the North Loop. In addition to office space, the development will contain 57 apartments, an underground and seven-level elevated parking garage with over 400 spaces and ground-level retail. Outside, The Nordic will feature an active public plaza fronting Washington Avenue, intended for outdoor seating, lawn games, winter ice curling and space for food truck service.

A grant from the Metropolitan Council is helping to underwrite the costs of soil remediation on this former industrial site.

Project partners include general contractor RJM Construction, Hartman Cox, a nationally renowned architect and lead architect for the project, LHB Architects providing the design for the residential and parking components as well as local support for the overall project and Greco as the residential marketing agent and partner.

PRESS CONTACTS

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

Mary Lilja
President
Lilja Communications for United Properties
952.893.7140
mcl@lilja.com

 Minneapolis (MAY 31, 2017) –Mid-America Real Estate – Minnesota, LLC has been named as the retail marketing and leasing firm for the Macy’s redevelopment project on the Nicollet Mall in downtown Minneapolis.

Mid-America’s Senior Vice President of Leasing, Tricia Pitchford and Vice President of Leasing, Jesseka Doherty will be the lead leasing team for the retail component of this project.  They will collaborate with 601w Companies and United Properties, the project developers, and Telos, the project’s office leasing partner, for redevelopment of the landmark property.

The iconic Macy’s building (formerly Dayton’s) is located in the heart of downtown Minneapolis’ CBD on the corner of South 7^th Street and Nicollet Mall. The retail component will likely incorporate creative reuses of the lower, street and skyway levels, tying them together visually and structurally. Prospective uses include; entertainment, food hall, restaurants and traditional retailers, a number of which are expected to be new to the market.

“It is an extremely exciting opportunity for all of us at Mid-America to be working with 601w and United Properties on this high profile and iconic repositioning in downtown Minneapolis. We are very proud of the work our team has put forth thus far and we’re looking forward to the next steps with all team members of the project. We are honored to be a part of what’s sure to be history in the making,” said Doug Sailor, Principal/Managing Director of Mid-America Real Estate – MN, LLC.

“The addition of Mid-America to the Macy’s building transaction team is another strong step forward in imagining new possibilities for this most important downtown property,” said Bill Katter, president and chief investment officer of United Properties. “The retail expertise that Mid-America brings to the project adds momentum to a group already buzzing with plans and ideas to drive the redevelopment of this iconic landmark into its next purpose as a transformative downtown destination.”

In addition, other partners selected for the project are: The Telos Group, providing redevelopment consulting and office marketing and leasing services, Gensler & Associates as the lead architect and Transwestern as the management agent.

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.

The principals of 601w oversee one of America’s leading private real estate acquisition, ownership, development and management portfolios in the county. Over the past 15 years, 601w has acquired a number of substantial and well-known commercial properties throughout the county, aggregating 45 million square feet, with a collective value in excess of $7.5 billion. In relation to these deals, 601w has raised more than $2 billion in equity, mostly from longstanding investors, and has consummated transactions involving 40 major office buildings, including 11 in Manhattan and 6 in Chicago. For more information visit www.601wcompanies.com

PRESS CONTACTS

Suzanne Jones    Marketing Director
Mid-America Real Estate – Minnesota, LLC
skjones@midamericagrp.com
(952) 563-6634

Sheila Thelemann
Director of Marketing
United Properties
Sheila.thelemann@uproperties.com
(952) 837-8654

CBRE and United Properties announce first tenant, Swisslog, at Interpark

228,000-square-foot Interpark shaking up the traditional industrial park with pedestrian friendly, amenity-driven environment

DENVER (April 19, 2017) – CBRE Group, Inc., and United Properties announced today that healthcare automation company Swisslog is the first tenant to join United Properties’ Interpark development in northwest Denver.

Interpark is a new mixed-use development in the heart of Broomfield. Scheduled to deliver in late 2018, Interpark will be comprised of two industrial/flex buildings totaling 228,000 square feet and seven acres of walkable commercial service and retail amenities. Located just off US-36 in Broomfield, the project is United Properties’ first development in the northwest corridor. With amenities including walking/biking paths and retail, Interpark offers a fresh take on the traditional industrial park, according to Kevin Kelley, senior vice president and regional director for United Properties in Colorado.

“Investing in retail, green space and other tenant amenities may be unusual for a flex/industrial project, but we wanted to create a unique setting at Interpark that would attract quality companies like Swisslog Healthcare,” Kelley said. “In Denver’s tight labor market, employees can afford to have high standards for their workplaces, and when a company chooses to locate in a place like Interpark, it creates a distinct competitive advantage.”

“Interpark is the latest example of how United Properties has been a visionary leader in the Denver commercial real estate market. The flex/industrial project is shaking up the traditional industrial park setting by combining new construction, open floor plans and retail offerings in a pedestrian friendly environment—and all strategically located on US-36 midway between two of the nation’s top labor pools in Boulder and Denver,” said Jeremy Kroner, vice president with CBRE Advisory & Transaction Services. Kroner is leasing the Interpark space along with CBRE’s Frank Kelley and Erik Abrahamson.

Swisslog CEO Stephan Sonderegger agreed, noting “Our new headquarters location in the corridor between the universities in Denver and those in Boulder is the right solution for attracting and retaining the technical talent we need to drive our vision for enabling better patient care. The Automation Academy and Technology Showroom onsite will allow us to train both customers and employees and demonstrate our fully integrated supply chain management and medication management solutions.”

Interpark’s two buildings will be flanked on the south side by retail at the intersection of 112th Avenue and Main Street in Broomfield. The east building, which United Properties will construct first, includes a total of 119,873 square feet, of which Swisslog is taking 67,779 square feet. JLL’s Jason White, Billy Byrne and Mitch Zatz represented Swisslog in the lease.

The remaining space at Interpark’s east building is available for lease and divisible down to approximately 15,000 square feet. The second building to the west will offer an additional 107,720 square feet of flex/industrial space that could house up to four users.

United Properties is designing Interpark to be pedestrian friendly with tenant amenities top of mind. Bike paths will be incorporated into the green space that borders the development, and the site will feature lit intersections along both Main Street and 112th Avenue. A seven-acre retail plaza that is walkable for the industrial tenants will be included within the Interpark master plan. A 7-Eleven convenience store has committed to open at the corner of the property in early 2018, and a national coffee chain is considering a location within the complex. Proposals from hotel users are also being considered for the site. In addition, the location is within a short distance to the 1stBank Center, the Arista residential development, the Westin Hotel and The Shops at Walnut Creek. A bridge near the north end of the property offers access to nearby ball fields and a recreational area.

Swisslog Healthcare is a leading global supplier of services and solutions for material transport, medication management and supply chain management in healthcare facilities. The company will move from its current headquarters in northeast Denver to Interpark’s east building, where operations will include a production plant and showcase for its portfolio of transport and pharmacy automation solutions for hospitals.

Interpark is United Properties’ third commercial development in the Denver area, following on the heels of its success with Enterprise Business Center, a 2 million-square-foot industrial project in Northeast Denver’s Stapleton neighborhood, and INOVA Dry Creek, a 695,000-square-foot mixed-use office and residential campus in Centennial, Colorado. Based in Minneapolis, United Properties has developed nearly 200 projects totaling more than 10 million square feet and nearly $1 billion dollars over the last 30 years.

Construction on Interpark’s first building is scheduled to start in June 2017 with delivery in the second quarter of 2018. For leasing inquiries, contact Frank Kelley at (720) 528-6344 or frank.kelley@cbre.com, Jeremy Kroner at (303) 264-1916 or jeremy.kroner@cbre.com, or Erik Abrahamson at (303) 264-1900 or erik.abrahamson@cbre.com.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue).  The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide.  CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.  Please visit our website at www.cbre.com.

About Swisslog

Swisslog designs, develops and delivers best-in-class automation for forward-thinking health systems, warehouses and distribution centers. The company offers integrated solutions from a single source – from consulting to design, implementation and lifetime customer service. Behind its success are 2,500 employees worldwide, supporting customers in more than 50 countries. www.swisslog.com

Swisslog is a member of the KUKA group, a leading global supplier of intelligent automation solutions. www.kuka.com

From our inception more than 100 years ago, supporting the communities where we live and work has always been part of our value system.

United Properties is proud to sponsor Allina Health Hospice Foundation’s Dragonfly Gala in support of hospice patients and their families in our community. Recently, Ron Bagnall, Executive Director of Allina Health Hospice Foundation, thanked United Properties and Sr. Vice President Keith Ulstad for our support.

 Kenwood Village, Duluth News Tribune

March 24, 2017

By Brooks Johnson

Officials cut the ribbon on Kenwood Village at Arrowhead Road and Kenwood Avenue on Friday afternoon, with a few dozen neighbors and others touring the freshly finished complex.*

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Star Tribune

March 2, 2017

By Nicole Norfleet

United Properties, one of the largest developers in the Twin Cities, is taking a stake in the just-sold Macy’s complex in downtown Minneapolis and also taking the lead in redeveloping the site.

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 Fox21 TV

March 24, 2017

By Greg Chandler

Another in a series of mixed use developments in Duluth is open for business. United Properties celebrated the opening of Kenwood Village with a ribbon cutting Friday afternoon.

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Colorado Real Estate Journal

March 17, 2017

By Jill Jamieson-Nichols

Swisslog Healthcare Solutions is preparing to move its North American headquarters from Denver to Broomfield. The company reportedly is working with United Properties to develop an approximately 56,000-square-foot building at Interpark, located at West 112^th Avenue and Main Street.

Read More Here

Denver Business Journal

March 3, 2017

By Molly Armbrister

With record-low vacancies driving up rents, developers are eager to put up new industrial complexes. But they face soaring land and construction prices.

Read More Here