Lease signed for 8,000 sq. ft. above new Walgreens store

MINNEAPOLIS (July 20, 2015) – United Properties, along with its joint venture partner Capital Real Estate, Inc., announces a lease with North Memorial Health Care for a clinic on the second floor of 655 Nicollet Mall in downtown Minneapolis. Previously occupied by Saks, the skyway-level space will become the sixteenth North Memorial Health Care primary care clinic location in the metro. The clinic will offer primary care (including walk-in appointments), advanced imaging, mammography, podiatry, occupational medicine and lab services. The first floor of the 50,000-sq.-ft. space owned by the joint venture is leased to Walgreens for its first upscale store format in Minnesota.

The lease for the North Memorial space on the skyway level was signed in April; the clinic will open in November 2015. The 8,000-sq.-ft. clinic will have direct access to Gaviidae Common and the IDS Center. In addition to United Properties and Capital Real Estate, Inc., the project team includes general contractor BTS Construction, architect HGA, D.J. Kranz Co. and S2 Enterprises.

“We are thrilled to expand access to North Memorial Health Care’s primary care services into downtown Minneapolis,” said Kelly Macken-Marble, North Memorial Health Care president of population health and ambulatory services. “With this new location we are bringing the North Memorial care that this community has come to trust and value close to where they live and work.”

In December 2014, United Properties, in a joint venture with Capital Real Estate, Inc., acquired the first two floors of 655 Nicollet Mall. Construction on the Walgreens space began in February 2015 and will be complete in September 2015.

About North Memorial Health Care
North Memorial Health Care is an integrated health care system that offers state-wide care coverage with concentration in the central and northwest metro area of the Twin Cities. Through two hospitals, North Memorial Medical Center and Maple Grove Hospital; a full range of primary and specialty clinics; Urgency Centers; outpatient centers; medical transportation; and home and community outreach, North Memorial is a regional leader in advanced medical care. North Memorial has been an integral part of the community for nearly 60 years, providing patients and their families with compassionate, quality care while creating the safest environments possible.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

Eva Stevens and Bill Katter promoted to co-president roles

MINNEAPOLIS (June 11, 2015) – United Properties’ President and CEO Frank Dutke has announced plans to retire in June 2016, which will end a 23-year-long tenure with the company.

As United Properties’ chief executive since 2008, Dutke, 63, has overseen the company’s investment and development activities throughout Minnesota, Colorado, Wisconsin, Illinois and Virginia. He has led the organization through its largest business expansion in the company’s nearly 100-year history, overseeing numerous acquisitions, dispositions, financings, partnerships and new development projects.

As part of the transition of leadership, two current United Properties executives will be promoted to co-president roles, effective July 1, 2015. Eva Stevens will assume the role of president-United Properties Investment and chief operating officer, and Bill Katter will assume the role of president-United Properties Development and chief investment officer. Stevens will oversee the stable investment portfolio and business operations, while Katter will secure new investment opportunities and lead development activities for the firm. Upon Dutke’s retirement, both will report to Bert Colianni, CEO, Marquette Companies, a holding company for various Pohlad operating companies.

“This is part of an orderly transition in leadership over the next year,” said Dutke, who will retain the title of CEO until his retirement. “Fortunately, I have two valued, long-term colleagues in Eva and Bill, each with strong expertise and a proven, successful track record in their respective businesses of investment and development.” United Properties’ investment portfolio consists of more than 50 office, medical, industrial, retail and senior living with services assets. The company’s active developments include more than three million square feet in Denver, Minneapolis and Chicago.

Dutke serves as a member of the ULI Minnesota Advisory Board, U.S. Bank Twin Cities Advisory Board and the City of Minneapolis Development Finance Committee. He is a member of NAIOP, the Minnesota Shopping Center Association (MSCA) and the Urban Land Institute (ULI). He is also a member of the board of directors of CornerHouse, a local nonprofit that advocates for children and vulnerable adults.

Prior to joining United Properties in 1993, Dutke held an investment management position with United Properties’ affiliate, NorthMarq Capital. He also held finance positions with Citicorp and U.S. Bank and practiced law with Doherty Rumble & Butler.

“Throughout his tenure, Frank has been a trusted and respected leader and considered one of the brightest real estate professionals in the Twin Cities,” said Colianni.

Previously, Stevens served as executive vice president and chief operating officer. As president-United Properties Investment, she will oversee all aspects of the strategy and direction for the company’s stable investment portfolio. In addition, Stevens continues as the United Properties chief operating officer and is responsible for accounting, insurance, information technology, governance, administration and human resources for both United Properties Investment and United Properties Development.

Katter, who previously served as executive vice president, assumes the role of chief investment officer for United Properties as well as president-United Properties Development. He will provide the direction and strategy for the development company, leading its development businesses in all markets. Additionally in his role as chief investment officer, Katter is responsible for overseeing the sourcing and risk management for all company investment activity. Katter has overseen several high profile projects, including redeveloping Ford Center, developing the Be the Match headquarters, and assembling the Enterprise Business Center campus in Colorado.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

13,500-sq.-ft. lease brings office building to 96 percent occupied

DENVER (June 8, 2015) – United Properties, a developer and investor with offices in Denver, has signed a lease with Rise Broadband, the nation’s largest fixed wireless broadband provider, for Rise Broadband’s new headquarters location at 61 Inverness. The 13,500-sq.-ft. lease will commence July 1. Located at 61 Inverness Drive in Inverness Business Park in southeast suburban Denver, the 87,000-sq.-ft., three-story office building is now 96 percent leased.

Rise Broadband will relocate from its nearby location at 400 Inverness Parkway. The company chose the new location because of the recent renovations to the building, move-in ready space and ample parking.

“Our new space at 61 Inverness gives us the opportunity to continue our rapid growth in the heart of the country’s telecom hub,” said Jack Koo, president and CEO, Rise Broadband. “We look forward to being located near many of the industry’s pioneers and leading corporations that have a long history in this area.”

The transaction team included: landlord broker DTZ Americas-Cassidy Turley, tenant broker New Option Realty and architect Kieding. Cushman & Wakefield/NorthMarq manages the property on behalf of United Properties.

Originally constructed in 1983, United Properties acquired 61 Inverness in March 2013 and began planning the building’s first extensive renovation. United Properties completed the renovations in 2014, including: upgrading lobbies, common areas and restrooms; finishing out suites; and refreshing the building signage and property exterior. In addition to Rise Broadband, other tenants include Computer and Communication Technologies, Inc., Centura Health Neighborhoods and Jeppesen, a subsidiary of The Boeing Company.

About Rise Broadband
Rise Broadband is the nation’s largest fixed wireless Internet provider; serving nearly 200,000 rural and suburban residential and commercial accounts in the Midwest, Rocky Mountain and Southwest regions. Incorporated in 2005, parent company JAB Broadband rebranded all of its operations as Rise Broadband in 2015 – including regional divisions Digis, Prairie-iNet, Skybeam, T6 and Rhino Communications. Today, Rise Broadband offers affordable high-speed broadband (Internet and phone) services in 15 states; with speeds ranging between 3 Megabits per second and 1 Gigabit per second. Rise Broadband is headquartered in metro Denver. For more information, visit www.risebroadband.com.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

Ceremonial groundbreaking held April 10

MINNEAPOLIS (April 13, 2015) – United Properties announces that it has signed a lease with Allina Health for a new medical office building that will house its Lakeville clinic. With the land near the intersection of I-35 and County Road 70 in Lakeville acquired in January, construction recently began and was kicked off with a formal groundbreaking on April 10. At 12,500 sq. ft., the new clinic will replace the existing Allina Health Lakeville Clinic at 17599 Kenwood Trail.

Once construction of the new building is complete, the family practice clinic will relocate and open in August of 2015. The single-story medical building will be adjacent to a pond and include a drive-under canopy. The Allina Health Lakeville Clinic will offer complete care for the whole family with room to grow additional specialties.

In addition to United Properties, the project team includes architect and design partner Mohagen/Hansen, contractor Steiner Construction, civil engineer Sambatek and Silverstone Realty.

About Allina Health
Allina Health is dedicated to the prevention and treatment of illness and enhancing the greater health of individuals, families and communities throughout Minnesota and western Wisconsin. A not-for-profit health care system, Allina Health cares for patients from beginning to end-of-life through its 90+ clinics, 13 hospitals, 16 pharmacies, specialty care centers and specialty medical services that provide home care, senior transitions, hospice care, home oxygen and medical equipment, and emergency medical transportation services. For more information about Allina Health, visit our website at allinahealth.org and join us on Facebook and Twitter.

Media Contacts
Alicia DeMatteo
952.893.7140
ajd@lilja.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

Brooklyn Park development now home of three US headquarters

MINNEAPOLIS (April 6, 2015) – United Properties announces that Nilfisk, one of the world’s leading manufacturers of professional cleaning equipment, has signed a lease for the remaining building at Northcross Business Park, bringing the development to 100 percent occupancy. The 36-acre site at the intersection of Minnesota State Highway 610 and U.S. Highway 169 in Brooklyn Park will include the US headquarters for Nilfisk as well as already-signed Wurth Adams Nut & Bolt Co., Perbix Machine Co. Inc.

Nilfisk is moving from Plymouth, Minnesota, which has been its Americas headquarters for the past 28 years. The new location will include all current Plymouth-based employees, approximately 300, and all operations as they exist today, including manufacturing and production, sales and marketing, R&D and product management, and corporate services.

The move will begin in the fourth quarter of 2015 and be complete by the first quarter of 2016. The completed park will include:

• The 182,000-sq.-ft. industrial building for Nilfisk
• The 165,000-sq.-ft. office/warehouse building for fastener and assembly component distributor Wurth Adams
• The 70,000-sq.-ft. office/warehouse building for machine manufacturer Perbix

United Properties’ project partners on the Nilfisk building include Pope Architects, engineer EVS, Inc., general contractor R.J. Ryan. United Properties was represented by Cushman & Wakefield|NorthMarq and Nilfisk was represented by Colliers.

About Nilfisk
Nilfisk is one of the world’s leading manufacturers of professional cleaning equipment with around 5,250 employees and an annual turnover of EUR 881M. Based on a century of cleaning expertise, we develop and manufacture high quality products that represent the latest technology and innovation and offer the broadest product portfolio in the industry. Nilfisk has sales companies in 45 countries around the world and with an additional strong distributor network Nilfisk markets and sells its products in more than 100 countries worldwide. Nilfisk is a part of the NKT Group.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

Space will be distribution center for national company

DENVER (March 3, 2015) – United Properties, a developer and investor with offices in Denver, has signed a lease for 88,575 sq. ft. with Priority Wire & Cable, Inc. at its fifth building at Enterprise Business Center (EBC) in Stapleton. The fifth building is the second phase of EBC, located near the southwest corner of Interstate 70 and Havana Street in Denver. Construction of the 467,000-sq.-ft. bulk cross-dock building will be complete by the end of April.

The wire and cable supplier will occupy nearly 20 percent of the building, expanding its national network of distribution centers into Colorado. Priority Wire & Cable will commence its lease near the end of the core construction period and then begin interior work.

“We were fortunate that Priority Wire & Cable selected our location and helped kick off the lease-up of the next phase,” said Kevin Kelley, vice president, United Properties. “Large blocks of available space are diminishing quickly in the central area, and as a result we are negotiating with multiple users for the remaining vacancy.”

In addition to United Properties, the project team includes landlord representative Mike Wafer and Tim D’Angelo of Newmark Grubb Knight Frank; tenant representative Mike Camp and Corby Rolin of CBRE; architect Ware Malcomb; and general contractor Murray & Stafford, Inc.

The first phase of EBC, a class A industrial development, is comprised of four buildings with more than 701,000 sq. ft. on 38.2 acres; 670,770 sq. ft. in the first phase is leased. United Properties acquired an additional 24.8 acres for the second phase of EBC in 2014.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

Supply chain specialist takes nearly half of industrial building

MINNEAPOLIS (March 2, 2015) – United Properties announces that it signed a lease with Bunzl Distribution at its Red Rock Industrial Building in Maple Grove. A North American nonperishable goods supply chain specialist, the company will take 155,000 sq. ft. of 320,000-sq.-ft. industrial building and move in when construction is complete in June 2015.

The company will relocate to the new 32-foot clear ceiling building from its current branch location in Fridley.

“We identified Bunzl Distribution as a potential lead tenant for the building when we broke ground in September,” said Brandon Champeau, vice president, United Properties. “We are excited to have them in the building.”

Cushman & Wakefield | NorthMarq’s Jon Yanta, Jason Meyer and Brent Masica are the leasing team at the property. Bunzl Distribution was represented by Mark Sonnenberg of NAI LaSala-Sonnenberg and Duane Poppe of Transwestern. The property team includes Lampert Architects, engineer EVS, Inc. and general contractor RJM Construction.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

MINNEAPOLIS (Feb. 4, 2015) – United Properties announces that it has added four new positions to the company, created to support accounting and asset management for investment and development. To fill these new positions, Chris Wold has been promoted to senior investment analyst, and Peter Ulstad has been promoted to assistant controller. United Properties also has hired two new individuals: Bob Zarriello, assistant controller, and Andrew Wiecher, accounting assistant.

Chris Wold, senior investment analyst
Chris Wold has been promoted to senior investment analyst for the operating and value-add teams at United Properties. He is responsible for carrying out financial analysis, annual strategic planning, annual budgeting and yearly valuations. Working with the company’s asset management group, Wold will gather research on property ownership, transaction data and general market information.

Previously, Wold was vice president/property manager at Meridian Land Company, a subsidiary of United Properties. He graduated from Gustavus Adolphus College with a bachelor’s degree in economics.

Peter Ulstad, assistant controller
Peter Ulstad has been promoted to assistant controller, development. Ulstad is responsible for tracking and forecasting all development and line of credit activity. He also will manage the annual audit and assist with the annual budget, strategic planning and quarterly forecast projections. A significant part of Ulstad’s job will be overseeing the recording of all development asset acquisitions, dispositions and transfers from development to an operating asset.

Previously, Ulstad served as financial reporting manager at United Properties. A certified public accountant, he is a member of the American Institute of Certified Public Accountants and Minnesota Society of Certified Public Accountants. Ulstad holds a bachelor’s degree in accounting from Minnesota State University-Mankato.

Bob Zarriello, assistant controller
Bob Zarriello joins United Properties as assistant controller, investments, in charge of the operating portfolio. His responsibilities include preparing the consolidated financial statements for the company, coordinating the annual budget, strategic plans and quarterly forecast projections, and managing the annual tax return process.

Zarriello comes to United Properties from Cushman & Wakefield | NorthMarq where he was a property accounting supervisor. Zarriello earned a bachelor’s degree in business finance with a minor in accounting from the University of Wisconsin-Eau Claire. He also completed additional accounting courses at the University of Minnesota Carlson School of Management and Rasmussen College.

Andrew Wiecher, accounting assistant
Andrew Wiecher joins United Properties as an accounting assistant, providing general accounting and administrative support to the accounting team by assisting with cash receipts, accounts payable and financial statements. Wiecher is currently attending Hennepin Technical College pursuing a degree in accounting.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

Eric Skalland assumes role of vice president and chief accounting officer

MINNEAPOLIS (Jan. 15, 2015) – United Properties has promoted Eva Stevens, executive vice president of asset management, to executive vice president and chief operating officer, effective immediately. In her new role, Stevens, a 14-year veteran of the firm, will oversee all aspects of accounting, operations and administration of the company, financial and capital planning and asset management. She also will work with the president and senior leadership of the company to develop corporate financial strategy and identification of financial and business risk.

Eric Skalland also has been promoted to vice president and chief accounting officer. Both promotions are part of the transition of responsibilities from Paul Hawkins, executive vice president and chief financial officer, who will retire from United Properties in June 2015.

“Eva and Eric have been important leaders in the continuing evolution of United Properties,” said Frank Dutke, president, United Properties. “We are very pleased to recognize their contributions and look forward to their continued leadership.”

In her new role, Stevens assumes responsibilities for accounting, insurance, information technology, governance, administration and human resources, in addition to her current role providing strategy and direction for the company’s operating portfolio.

Stevens joined United Properties in 2001 as vice president of asset management, and was named to the executive team in 2005. Prior to United Properties, Stevens worked in asset management as well as property and operations management at Colonnade Properties and Northco. Before entering the commercial real estate industry, Stevens was a financial manager of Ellerbe, Inc. She began her career as an accountant at Coopers & Lybrand.

Stevens is active in the commercial real estate industry and has served in several leadership roles within NAIOP, including serving on the national NAIOP board of directors and executive team. She is the recipient of NAIOP Minnesota’s 2014 President’s Award and, after serving for many years on the NAIOP Minnesota education committee, has transferred to the membership committee. She was instrumental in the 2014 opening of Gilda’s Club Twin Cities, and continues to serve the nonprofit cancer support center as vice chair of the board of directors and as a member of the ESAT (executive support and appraisal team).

With his promotion, Skalland will work with United Properties’ senior leadership to develop and implement corporate financial strategy and provide oversight of accounting and internal controls, cash management, budgeting, reporting and tax planning. He joined United Properties in 2007 as an assistant controller and was promoted to controller in 2010. Prior to joining United Properties, Skalland served as a senior financial analyst at CBS Radio, Inc. and as a senior associate with the accounting firm of Grant Thornton.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

Leased signed for 37,000 sq. ft. Walgreens upscale store

MINNEAPOLIS (Dec. 12, 2014) – United Properties, in a joint venture with Capital Real Estate, Inc., has acquired the first two floors of 655 Nicollet Mall in downtown Minneapolis, the building currently occupied by Saks, and signed a lease with Walgreens to anchor the project. At approximately 37,000 sq. ft. spanning two floors, the store will be Walgreens’ first upscale store format in Minnesota. Featuring a wide variety of freshly made food, a beverage bar, frozen yogurt, sushi market and high-end cosmetics, the location will have multiple entrance points including access to Nicollet Mall and the Minneapolis skyway system. Construction will begin in the first half of 2015 and be complete by early fall 2015.

“We’re excited about acquiring this outstanding location in the heart of downtown Minneapolis, and bringing Walgreens here in its first upscale store format to this market,” said Bill Katter, executive vice president, United Properties. “The store’s amenities will cater to both downtown office workers and to the people who live in the downtown area.”

The joint venture purchased the 50,000-sq.-ft. building on December 10, 2014. The remaining 10,000 sq. ft. space is available on the skyway level with direct access to Gaviidae Common and the IDS Center.

Capital Real Estate, Inc. represented Walgreens, and BTS Construction has been named the general contractor on the project.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com