In the fall of 2016, we honored former CEO Boyd Stofer with the installation of a spectacular sculpture at Centennial Lakes, Stofer’s signature development. The 6’ glass sculpture overlooks the lake in one of the Park’s five office buildings. The sculpture was designed to physically demonstrate Boyd’s skillful vision and leadership for Centennial Lakes. The six glass panels are meant to convey images of an award-winning office park development rising from a humble property used as a gravel pit for many years. A small group, including Boyd’s family, gathered at the sculpture to dedicate it in his honor. Creation of the sculpture was a journey of the heart for the United Properties team as we worked to honor our former leader in a meaningful way. We know that Boyd would be both humbled and pleased if he were here today to see the sculpture created in his memory.

A 100-year run in commercial real estate is certainly something to celebrate. And in September of 2016, we did! More than 200 guests, including current and former employees, clients, industry partners and friends gathered at the J.W. Marriott for a celebration of our first 100 years. With a grateful nod to our first 100 successful years, we took the opportunity to introduce a new brand statement, “Creating Deep Roots”, and a refreshed logo as we step into the next 100 years.

2016 marked our 100^th year in commercial real estate. In commemoration, both the Minneapolis and Denver teams traded their computers and phones for shovels and rakes, planting 100 trees and 60+ trees, respectively, in City parks. Creating deep roots – literally – was a meaningful way for the team to commemorate the milestone AND spend a gorgeous fall afternoon together.

MINNEAPOLIS – March 2, 2017 – 601W Companies, a national developer based in New York, has closed on its first acquisition in the Twin Cities with the purchase of the Macy’s property in downtown Minneapolis.

The firm has selected several of its partners for this landmark project including United Properties as a local development partner, The Telos Group as redevelopment consultant and office marketing lead, Transwestern as management agent and Gensler as the lead architect.  Additional local partners are expected to be brought on board in the coming weeks.

“We are very pleased to be working on this important mixed-use development in downtown Minneapolis,” said Bill Katter, president and chief investment officer. “Together, this highly-qualified, veteran partnership will ensure the redevelopment not only serves, but also enhances the downtown community.” United Properties will invest in the project, while providing locally based development and repositioning to the ownership group.

“The Macy’s building redevelopment – at one million square feet – will be one of the largest adaptive re-use projects in the region and its importance to the City of Minneapolis is not lost on us,” explains Brian Whiting, President of The Telos Group LLC.   “We are not simply redeveloping a building. We are providing unique and progressive environments that draw on the building’s history and combine it with the diverse experiences Minneapolis has to offer.”

Additionally, the Chicago office of Gensler, one of the world’s largest design firms, has been selected to lead the redevelopment planning and design process. Grant Uhlir, a principal with Gensler in Chicago, indicated that the team is “likely to pursue a purposeful renovation of this landmark property with historic tax credits,” in keeping with many similar projects that 601W Companies has previously undertaken with Gensler and Telos in other cities.

About 601W

The principals of 601W oversee one of America’s leading private real estate acquisition, ownership, development and management portfolios in the country. Over the past 15 years, 601w has acquired a number of substantial and well-known commercial properties throughout the country, 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.   Visit www.601wcompanies.com

About The Telos Group, LLC

The Telos Group, LLC provides marketing, leasing and strategic consulting services for large scale urban office projects in Chicago and Minneapolis as well as strategic consulting for real estate owners nationwide.  Telos employs a creative goal driven process to create entrepreneurial solutions customized for each assignment.  Telos has been the leader in shaping the evolution of how office space is conceived for today’s businesses. The Company has a portfolio of over 28 million square feet of assignments encompassing historic to trophy buildings owned by entrepreneurial investors to international institutions. To learn more about The Telos Group, LLC, visit www.telosgroupllc.com.

About Gensler

Gensler is a global architecture, design, and planning firm with 46 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. For more information, visit www.gensler.com.

Media Contacts

For United Properties
Sheila Thelemann
952.837.8654
sheila.thelemann@uproperties.com

Four of six Minnesota locations to move, field sites in other states not affected

EAGAN, MINN. – Feb. 16, 2017 – Prime Therapeutics LLC (Prime), a pharmacy benefit manager (PBM) serving 17 Blue Cross and Blue Shield plans – including Blue Cross and Blue Shield of Minnesota – signed a lease with real estate developer United Properties, to build a new facility in Eagan. This facility will consolidate its two Eagan offices plus its Edina and Mendota Heights offices.

With its current Eagan building leases starting to expire in 2018, Prime worked over the past several months to evaluate a variety of locations in the Twin Cities area – both existing office space and new construction. In collaboration with JLL and Greater MSP, Prime was able to find the best long-term solution in a 30-acre site known as “Boulder Lakes.” The property is located on Lake Shanahan, south of Interstate 494 and east of Dodd Road in Eagan.

Prime’s Minnesota sites in Bloomington and on Lexington Avenue in Eagan will remain open. Prime has more than 3,600 employees, with more than 2,000 in Minnesota.

The new Prime facility in Eagan will house Prime’s IT and operations teams and will be flexible enough to accommodate Prime staff from consolidated locations and allow for future growth.

“Consolidating our offices will provide long-term operational efficiencies that will provide financial savings for our company and our clients, while meeting current business needs and future business strategy,” said Prime’s President and CEO Jim DuCharme. “Eagan has been and continues to be a perfect fit for Prime as the majority of our Minnesota-based employees are already in Eagan. This new facility will minimize team disruption and enhance collaboration. I look forward to continuing our strong working relationship with city leadership as we evolve Prime’s presence in Eagan.”

“It’s tremendously gratifying when a major employer like Prime Therapeutics determines Eagan has what it takes for their continued success,” said Eagan Mayor Mike Maguire. “Prime’s strategic decision to unite operations here on a single corporate campus,” he added, “not only builds on our more than decade long relationship, but it keeps and concentrates several thousand highly skilled jobs in Eagan. We are both proud of the continued momentum this brings to maintaining the exceptional quality of life Eagan is known for.”

“United Properties is excited to be moving down the development path with Prime for its new facility in Eagan, and we’re very pleased to have found just the right site for their planned consolidation,” said Gordy Stofer, vice president of office development.

MINNEAPOLIS (Jan. 30, 2017) – United Properties announced today that Eric Skalland, vice president and chief accounting officer, has been promoted to executive vice president and chief financial officer, effective Jan. 1, 2017.

Skalland, a ten-year veteran of the firm, directs personnel in accounting, financial planning, internal and external reporting, technology and tax planning. He is a member of the Executive Team and Investment Committee, and also plays a lead role in the development and implementation of United Properties’ overall strategy. Skalland reports to Eva Stevens, president and chief operating officer, who co-manages the company with Bill Katter, president and chief investment officer.

“During his time at United Properties, Eric has developed a depth of understanding of the investment and development business that Bill and I rely on in our decision making,” says Stevens. “He has become a trusted advisor and strategic business partner who has aligned our leadership team around our capital architecture, which informs all of our capital deployment decisions.”

Skalland joined United Properties in 2007 as an assistant controller and was promoted to controller in 2010. Prior to joining United Properties, he served as a senior financial analyst at CBS Radio, Inc., and as a senior associate with accounting firm Grant Thornton. Skalland holds a Bachelor of Science degree in accounting from the University of Minnesota – Carlson School of Management. Skalland is a Certified Public Accountant (CPA).

Media Contacts

For United Properties
Sheila Thelemann
952.837.8654
sheila.thelemann@uproperties.com

Company caps milestone year with plans for its third HQ move in a century 

MINNEAPOLIS (December 8, 2016) – United Properties will move its headquarters from Bloomington to its new location at 7th & Nic. in downtown Minneapolis, the company announced today. Currently located in the Northland Center in Bloomington, United Properties will relocate to the fourth floor of the building formerly known as Gaviidae Common, at 655 Nicollet Mall. The move will take place in early 2017.

“This is an exciting new chapter for United Properties,” says Eva Stevens, president and chief operating officer, who, together with Bill Katter, president and chief investment officer, assumed their co-president roles earlier this year. “We are moving forward on several fronts, and the headquarters move is just another example,” she said, adding that this marks just the third time in the company’s 100-year history that it has moved its corporate headquarters.

Privately held United Properties has been creating deep roots in the Twin Cities since 1916. Two iconic Minnesota families have owned the company in its 100-year history: the Hamm family of St. Paul, and the Pohlad family of Minneapolis. Formed in 1916 by the owners of Hamm’s Brewing Company, United Properties managed the family’s real estate assets from its downtown St. Paul location in the Hamm Building for more than 60 years. From its second location in Bloomington – in the Northland Center, a building complex United Properties developed in 1983 – the company has grown into a commercial real estate powerhouse, shaping the skyline of cities throughout Minnesota and Colorado. The Pohlad family of Minneapolis, owners of Pohlad Companies, acquired United Properties in 1998 to broaden their business interests.

Similar to its previous moves, United Properties will occupy office space that it owns. United Properties purchased the third and fourth floors of Gaviidae Common in June 2016, following its acquisition of the first and second floors in early 2015. Katter said the company will take the majority of one floor for its own use, and will seek office tenants for the remainder of the space.

“As we look forward to our 101st year and beyond, we’re excited about the opportunities our new downtown location will bring,” says Katter. “Like the needs of the clients we serve, our own space needs are changing. Our move downtown will allow us to reinvent the space we occupy and provide inspiring new opportunities for our growing team.”

The move will also help streamline coordination and communication between United Properties and the Pohlad Cos., located in the nearby RBC Plaza.

During its anniversary year, United Properties has been busy in both of its hometown cities. In St. Paul, it is redeveloping the former St. Paul Saints Midway Stadium into an industrial building. In Minneapolis, United Properties is involved in several high-profile projects, including the Gateway development/Nicollet Hotel Block.

PLYMOUTH, Minn. (November 2016) – Cherrywood Pointe of Plymouth, a new 130,000-square-foot senior living community located at 18405 Old Rockford Rd. in Plymouth, Minn. has broken ground.

The three-story development is owned by United Properties and managed by Ebenezer Management Services, which provides daily operational and management services.

Cherrywood Pointe of Plymouth offers a variety of housing solutions for older adults, ranging from options for those who choose to live independently to those who want to take advantage of the care and services that are available 24/7.  Cherrywood Pointe’s 94 units feature 66 independent and assisted living apartments; 23 memory care apartments, which are designed for those with Alzheimer’s and other forms of memory loss; and five enhanced care apartments, which offer a home-like alternative to traditional nursing home care for those needing higher levels of care.

Designed by Kaas Wilson Architects and Henricksen Interiors and constructed by Weis Builders, Cherrywood Pointe’s onsite amenities include state-of-the-art remote monitoring technology, onsite visits by geriatric physicians and nurse practitioners, and a full-time nurse who is on-call 24 hours.

The senior living community will feature a restaurant-quality dining room with chef-prepared meals, private dining, an overnight guest suite, balconies, community rooms, lounge and media room.   In addition, Cherrywood Pointe will provide an activities director, movie theater, fitness center, hair salon, underground parking and scheduled group transportation in the community van.

Cherrywood Pointe is expected to open in early 2018.

Ebenezer Management Services

Cherrywood Pointe of Plymouth is managed by Ebenezer Management Services (www.ebenezermanagementservices.org), an experienced provider of residential and health care environments for seniors since 1917.

Former Marquette Financial Companies executive joins 

United Properties executive tea

MINNEAPOLIS (Nov. 7, 2016) – United Properties announced today that Bruce McGrath has joined United Properties as the company’s chief risk officer, effective Nov. 1, 2016.

In his new role, McGrath, 55, will be a member of the United Properties executive team and will be responsible for leadership of enterprise risk management across the organization’s development, investment and senior housing businesses. He will report to Eva Stevens, president and chief operating officer, who co-manages the company with Bill Katter, president and chief investment officer.

McGrath brings more than 20 years of experience in the area of risk management, including tenure with the Pohlad-owned Marquette Financial Companies prior to its sale to UMB Financial in 2015. Since that time, McGrath has served as UMB’s executive vice president and chief regional credit officer, responsible for the credit function and portfolio risk at both the holding company and subsidiary level, including specialized lending units and commercial real estate, as well as commercial and retail banking.

“United Properties today manages a significant balance sheet, including a new capital infusion from our owners to help expand our Cherrywood Pointe senior housing,” Stevens said.

“We are very pleased to welcome Bruce back to the Pohlad organization, and to United Properties, and know that he will be an important partner as we address the increasing complexity of our business model and our plans to grow,” she said.

b>Media Contacts 

For United Properties:
Sheila Thelemann
952.837.8654
sheila.thelemann@uproperties.com

New 402,000 sq. ft. facility significantly increases company’s local footprint

 MINNEAPOLIS (August 22, 2016) – United Properties has signed a 402,000-sq.-ft. lease with Distribution Alternatives, Inc. for an industrial build-to-suit facility on a 30-acre site near the intersection of Interstate 35E and County Road 14 in Lino Lakes, Minnesota. Distribution Alternatives, a third party logistics firm based in Lino Lakes, plans to move into the new building in fall 2017. Site work commenced last week.

“This is one of the largest industrial build-to-suit leases in our market in recent years,” said Brandon Champeau, vice president for Bloomington—based United Properties. “We appreciate the opportunity to work with Distribution Alternatives on this forward-thinking facility which keeps them in the City of Lino Lakes.”

The building will be constructed with a 32’ clear ceiling height, making it ideal for cubic storage capacity. The new facility includes a cross-dock layout, outside trailer storage, excess power capacity for future automation and Gresser Concrete’s Prime Composite jointless floor slab – all features that give Distribution Alternatives an ‘e-commerce ready’ retail distribution facility.

“The demands of today’s e-commerce consumer are putting pressure on retailers and logistics providers to streamline the supply chain network. The distribution center plays a central role in this system, so our team worked collaboratively to design a facility that helps Distribution Alternatives meet their clients’ evolving requirements,” Champeau said.

“We are thrilled to be in the position to grow and move our headquarters operations into this new facility, while at the same time remain in the city of Lino Lakes,” said Distribution Alternatives executive vice president Len Thurmes. “This new facility will serve us, our supplier partners, and our growing customer base for many years to come.”

United Properties has also secured an option with landowner Rehbein Properties to develop approximately 100 acres of commercial and industrial land around the new facility, named Clearwater Creek Business Park.

In addition to United Properties, the project team includes Jon Rausch of Cushman & Wakefield Northmarq, building design by Lampert Architects and general contractor RJ Ryan. Rob Davidson of The Davidson Companies, Inc. represented Distribution Alternatives in the transaction. DLR Group designed the company’s interior improvements.

About Distribution Alternatives, Inc.

Founded in 1935 in St. Paul, Minnesota, we have been distributing merchandise for over 80 years to the retail trade. Initially as Scholls Inc., we worked as a wholesale company delivering a variety of goods directly to our customer’s door. After 50 successful years of servicing the mass, grocery and department stores, due to changing demands, we evolved into Distribution Alternatives a 3rd Party Logistic Company. As a full service 3PL we contract with over 60 companies supplying warehousing and fulfillment services, and managing their distribution strategies using our 80 years of supply chain experience.  For more information, visit www.daserv.com.

sheila.thelemann@uproperties.com