DENVER (Aug. 10, 2015) – United Properties, a developer and investor with offices in Denver and Minneapolis, announces it has signed a lease with Beverage Distributors Company, LLC, Inc. for 500,000 sq. ft. and closed on the purchase of 45 acres of additional land from Forest City Stapleton at Enterprise Business Center (EBC) in Stapleton. Located at Interstate 70 and Havana Street in Denver, the class A industrial development will now include eight buildings with more than two million square feet on approximately 100 acres.

With Beverage Distributors preleasing more than 70 percent of one of the three buildings in this next phase, the land purchase and lease have now kicked off the development of an additional 850,000 sq. ft. of commercial space at EBC. “This is one of the largest industrial leases ever signed in Denver, and in our portfolio of properties,” said Kevin Kelley, vice president, United Properties.

Construction will commence on two of the buildings in September with the third built upon market demand.

• A 646,000-sq.-ft. bulk distribution building with 32-foot ceiling heights principally occupied by Beverage Distributors to be complete in the first quarter of 2017.
• A 157,000-sq.-ft. flex building planned with 24-foot ceiling height and a higher degree of office finish to be complete by the end of second quarter of 2016.

“We are thrilled to be in the position to consolidate our operations into this new facility,” said Beverage Distributors President and CEO Joseph Marotta. “This is the culmination of the hard work of all of our associates over the past 40 years here in Colorado. This new facility will serve our business, our supplier partners and our customers for the next 20 years and beyond.”

Beverage Distributors Company, a subsidiary of Charmer Sunbelt, is consolidating its operations from three buildings currently located in Aurora to one state-of-the-art facility in EBC in Denver. Beverage Distributors is the largest distributor of beer, wine and spirits in the state of Colorado and currently employs more than 600 people. Phase one of Beverage Distributors’ new facility will be 70,000 sq. ft. of office space and 434,000 sq. ft. of warehouse space located along I-70 and Central Park Blvd. Phase two includes a 142,000-sq.-ft. expansion of the warehouse as needed over the next five years.

In addition to United Properties, the project team includes brokers Mike Wafer and Tim D’Angelo of Newmark Grubb Knight Frank; architect Powers Brown Architecture; and general contractor Murray & Stafford, Inc.  Mike Wafer represented Beverage Distributors in the transaction.

Each of United Properties’ land parcels at EBC has been purchased from Forest City Stapleton, Inc., the master redeveloper for Stapleton. United Properties began construction in August 2013 and the completed buildings total almost 1.2 million sq. ft. With signed and pending leases in those buildings, the development is more than 90 percent leased.

About Beverage Distributors Company, LLC
Beverage Distributors Company has served the Colorado beverage market for more than twenty years. Through the combined strength of our selling divisions — Apex Distributing Company, Pinnacle Distributing Company and Summit Distributing Company — BDC has shown consistent growth and earnings, and holds the largest share of the Colorado spirits and wine market. Beverage Distributors is a member of The Charmer Sunbelt Group (CSG), one of the nation’s leading distributors of fine wines, spirits, beer. and other beverages. A group of privately held companies, CSG operates local distributor and/or brokerage houses in 15 markets. CSG is a family-owned business that proudly serves as the critical link between wine and spirit suppliers, and the retail outlets where alcoholic beverage brands are legally and responsibly sold and enjoyed. The vision of Beverage Distributors is to be the distributor of choice for our suppliers, customers, associates, industry, and community.

About Stapleton/Forest City
Stapleton is Denver’s premier sustainable community and one of the largest urban infill projects in the United States.  Stapleton integrates a diversity of housing types and prices with a network of parks, schools, and supporting retail and office to create a true live/work environment. Stapleton is served by the Central Park interchange on I-70, which is located adjacent to transit-oriented development Forest City plans to commence at the new Central Park Commuter Rail Station that will link Stapleton to DIA on the northeast and Downtown Denver to the west.

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

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

Introducing smart, tilt-up construction to Denver market speculative development

DENVER (July 22, 2015) – Newmark Grubb Knight Frank (NGKF), United Properties and Principal Real Estate Investors announce INOVA Dry Creek, the Southeast Suburban (SES) submarket’s new 695,000-square-foot mixed-use office and residential campus, a revitalization of Dry Creek Corporate Center. A 212,000-square-foot, five-story, suburban Class A speculative office building, scheduled to break ground in September of this year, will kick off the five-building planned business park at 7250 South Havana Street. The office building at INOVA Dry Creek will have 14-foot 6-inch ceiling heights, 9-foot window heights, flexible floor plates and seek LEED Silver certification.

INOVA Dry Creek will offer nearly 695,000 square feet of office, industrial and multihousing uses. Current plans accommodate five additional buildings, with at least three offering multi-story office and one industrial/flex. The project caters to single- and multi-tenant occupancy, with floor plates to provide campus users from 30,000 to over 200,000 square feet.

INOVA, a shortened name for innovative, introduces an enhanced, tilt-up office architecture to Denver. One of the fastest-growing building technologies in the United States, tilt-up construction economics include reasonable cost with low maintenance, durability, speed of construction and minimal capital investment.

“We have been planning this project since the initial land closing in October 2014 and feel this is time to introduce INOVA Dry Creek to the market,” said Kevin Kelley, vice president and regional manager of United Properties, the owner and developer of the project. “Our project team’s successes at Enterprise Business Center in Stapleton demonstrate our ability to uncover market-changing opportunities.”

Global financial investment firm Principal Real Estate Investors is working with United Properties as a significant equity partner on the project, along with Powers Brown Architecture, which is driving the design and construction process. Jason Addlesperger, Dave Lee and Mike Wafer of NGKF are leasing and marketing the project.

“The economic advantages at INOVA Dry Creek include a very competitive mill levy compared to other SES locations,” said Addlesperger, NGKF executive managing director. “United Properties is building new value by creating a suburban Class A spec office product that will provide starting lease rates under $20.00 per square foot, triple net lease and the highest SES parking ratio, at 5:1,000.“

Planned amenities include a campus with dedicated areas for biking, lockers, showers, a bike repair area and rentals, and immediate access to transit-oriented development and the Light Rail station at Dry Creek and I-25. Premium finishes, expanded parking, on-site restaurant space and a food truck are also planned to appeal to tenants. The property is adjacent to Topgolf and minutes away from Centennial Airport.

About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.

With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.

NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.

About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $59.3 billion in commercial real estate assets . The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Deb Bergman
303.260.4307
dbergman@ngkf.com

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