Planning underway for Phase II of adjacent senior cooperative

MINNEAPOLIS (Oct. 25, 2011) – United Properties has begun construction of Cherrywood Pointe in Roseville, Minn., the company’s first assisted living project. The 80-unit assisted living community will be located at 2996 Cleveland Avenue North, adjacent to United Properties’ newest senior cooperative housing community, Applewood Pointe of Roseville at Langton Lake.

“Many seniors are looking for a continuum of options when they are ready to leave their single family homes,” said Brian Carey, senior vice president of United Properties. “Our Applewood Pointe senior co-ops offer affordable, maintenance-free housing and a built-in community. The addition of Cherrywood Pointe assisted living will provide an easy transition in the event a need for services arises, providing residents with the option of making a housing transition while staying connected to their neighbors.”

United Properties is working with service provider Ebenezer Management Services, a wholly-owned subsidiary of Fairview Health Services, to manage Cherrywood Pointe. The new assisted living community will include a wide range of options for residents to choose from, including independent living, assisted living and personalized memory care. Additional amenities and services, such as full meals, personalized care, great room, library, theater room, fitness room and salon, will be available to residents of both Cherrywood and Applewood Pointes.

Co-op opens; begins taking reservations on Phase II
The first residents of Applewood Pointe of Roseville at Langton Lake began moving into the co-op in September; only two of the 48 units remain available on this first phase of the co-op. As a result of the quick sale of Phase I, and continued strong interest, reservations are now being taken for Phase II. The second and final phase will include 40 co-op homes, and will be connected to Phase I. Construction of Phase II is anticipated to begin summer of 2012.

The move into assisted living builds on United Properties’ expertise in developing Applewood Pointe senior co-op communities, which offer maintenance-free living for active adults. United Properties’ Applewood Pointe currently has seven metro locations that nearly 1,000 Twin Cities seniors call home, making it a leading developer of senior cooperative housing in the area.

For more information, visit http://www.applewoodpointe.com.

About Ebenezer
For over 90 years, Ebenezer has provided compassionate, community-centered care for older adults and others in need. Partnering with Fairview Health Services in 1995, the combined resources and expertise of Ebenezer and Fairview allow older adults throughout Minnesota to access a full range of choices for vibrant senior living; coordinated programs and services including senior housing, condominiums and cooperatives, assisted living, transitional and long-term care, adult and intergenerational programs and a variety of community-based services. www.ebenezermanagementservices.com

Media Contacts
Martha Nevanen
952-893-7539
martha.nevanen@marquettere.com

Mary Lilja
952-893-7140
mcl@lilja.com

DENVER (Aug. 22, 2011) – United Properties has elected to withdraw from the redevelopment of the former Agilent campus in Loveland, Colo. for the Aerospace and Clean Energy (ACE) Manufacturing and Innovation Park, a project spearheaded by the Colorado Association for Manufacturing and Technology (CAMT). CAMT will continue with redevelopment of the Park, which has significant tenant interest.

United Properties was selected by CAMT in June 2011 to act as the redevelopment partner for the former Agilent campus. On June 21, CAMT and United Properties signed an Exclusive Right to Negotiate agreement with the City of Loveland, which gave the United Properties/CAMT team 60 days to negotiate with the City on the acquisition of the property. Now owned by the City of Loveland, the site is an 811,000-sq.-ft., four-building property that began in the 1960s as a single-tenant campus.

“In our experience in commercial real estate development, a project of this complexity requires significant resources, time and the collaboration of many parties to bring the project to a successful completion,” said Frank Dutke, president of United Properties. “During our limited exploratory period, two components critical to us – available credit tenancy and acceptable financing terms – do not appear to be achievable within the required timeframe. Regrettably, we have decided not to pursue this opportunity at this time.”

Loveland Mayor Cecil Gutierrez stated, “We’ve always known there could be bumps in the road.  There are other interested parties prepared to engage with the City and CAMT.”

CAMT will continue to lead the statewide ACE Regional Innovation Cluster Initiative, and will work with the City of Loveland and other partners across the state to develop the ACE Park.

“Started in December of 2010 with the signing of a Space Act Agreement between CAMT and NASA, great strides have been taken to further technology acceleration for aerospace and clean energy companies,” said Elaine Thorndike, CAMT’s CEO.  “Examples include multiple ACE Exchange events with national speakers, pilot programs for NASA technology matching and the development of a Supplier Asset Map.”

Please visit www.camt.com for information on ACE programs and the ACE Park as they become available.

About the Colorado Association for Manufacturing and Technology
The Colorado Association for Manufacturing and Technology (CAMT) is a statewide manufacturing assistance center dedicated to increasing the competitiveness of Colorado manufacturers. CAMT is a public/private partnership convening government, not-for-profit and industry resources to provide services and programs that make Colorado firms thrive. CAMT is the state affiliate of the national Manufacturing Extension Partnership, a program of the U.S. Dept of Commerce, providing unique access to federal and state programs.  For more information, visit CAMT’s website at www.camt.com.

Media Contacts
Jessie Folkens
United Properties
952-837-8516
jessie.folkens@marquettere.com

Elaine Thorndike
CAMT
303-592-4087
elaine.thorndike@colorado.edu

Betsey Hale
City of Loveland
970-962-2304
haleb@ci.loveland.co.us

DENVER (June 10, 2011) – United Properties has been selected by the Colorado Association for Manufacturing and Technology (CAMT) as its development partner for the Aerospace and Clean Energy (ACE) Manufacturing and Innovation Park proposed for the former Agilent site in Loveland, Colo.

United Properties and CAMT are working to complete an agreement with the City of Loveland to purchase the property and will begin developing plans to recruit tenants.  Pending completion of due diligence, the Loveland site will be the home of the ACE Manufacturing and Innovation Park.

“We are very pleased to have entered a development agreement with CAMT and believe this represents an exciting opportunity,” said Frank Dutke, president of United Properties.

In December, CAMT signed a five-year Space Act Agreement with NASA to develop technology acceleration programs and a framework for regional collaboration promoting innovation and job growth, known as the ACE Regional Innovation Cluster.  As part of this initiative, CAMT is partnering with United Properties to develop the former Agilent facility into a multi-tenant campus that can house more than 70 companies with a focus on scale-up stage aerospace and clean energy manufacturing and technology companies.

“Aerospace and clean energy are key economic drivers for Colorado and sectors that we are working to expand. The ACE Tech Park in Loveland is a great example of how Colorado’s aerospace, innovation and technological expertise are converging to bring jobs and revenue to our state,” said Governor John Hickenlooper.

Currently, the Loveland campus is 167 acres with 811,000 sq. ft. of office space in four buildings.  The initial project will include two 50,000 sq. ft. buildings to house shared services including testing, labs and other services needed to accelerate the process of developing and delivering new technologies to market.

About the Colorado Association for Manufacturing and Technology
The Colorado Association for Manufacturing and Technology (CAMT) is a statewide manufacturing assistance center dedicated to increasing the competitiveness of Colorado manufacturers. CAMT is a public/private partnership convening government, not-for-profit and industry resources to provide services and programs that make Colorado firms thrive. CAMT is the state affiliate of the national Manufacturing Extension Partnership, a program of the U.S. Dept of Commerce, providing unique access to federal and state programs.  For more information, visit CAMT’s website at www.camt.com.
Media Contacts
Martha Nevanen
Vice President, Marketing Communications
952-893-7539
martha.nevanen@marquettere.com

Jessie Folkens
Sr. Communications Consultant
952-837-8516

McGladrey occupies nearly 25 percent of United Properties’ Minneapolis office tower

MINNEAPOLIS – (June 6, 2011) – United Properties and McGladrey are pleased to announce the renaming of Midwest Plaza to McGladrey Plaza at 8th Street and Nicollet Avenue in downtown Minneapolis. The renaming is part of McGladrey’s expanded lease to 120,000 sq. ft. of the 415,000-sq.-ft. office tower.

RSM McGladrey, Inc. and McGladrey & Pullen, LLP, combined under the McGladrey brand, rank as the fifth largest U.S. provider of accounting, tax and consulting services.

“We understand our clients’ needs and know that as our firm continues to grow, it is important for us to provide professional environments that facilitate work between our people and our clients,” said Mike Nelson, office managing partner with RSM McGladrey. “McGladrey Plaza is that space here in Minneapolis.”

McGladrey is the lead tenant in the United Properties’ office building and has leased space in the downtown building since 1982, when it occupied 16,000 sq. ft.

“We are pleased to continue our nearly 30-year relationship with McGladrey,” said Richard Student, senior vice president, United Properties. “They have been a great tenant at Midwest Plaza and we are happy to rename the plaza in their honor.”

Built from 1967 to 1970, the office tower was purchased by United Properties in 1994. Other tenants in the building include Sieben Grose Von Holtum & Carey, ELCA Board of Pensions, First American Title Insurance Company, AMEC Engineering and Consulting Services, Panera Bread and Barnes & Noble.

About McGladrey
McGladrey is the brand under which RSM McGladrey, Inc. and McGladrey & Pullen, LLP serve clients’ business needs. Together, they rank as the fifth largest U.S. provider of assurance, tax and consulting services, with 7,000 professionals and associates in nearly ninety offices. The two firms operate as separate legal entities in an alternative practice structure. McGladrey & Pullen is a licensed CPA firm that provides assurance services. RSM McGladrey is a leading professional services firm providing tax and consulting services. Both firms are members of RSM International, the sixth largest global network of independent accounting, tax and consulting firms. For more information, visit the McGladrey website at www.mcgladrey.com, join our Facebook fan page at McGladrey News and/or follow us on Twitter  @McGladrey.

Media Contacts
Martha Nevanen
Vice President, Marketing Communications
952-893-7539
martha.nevanen@marquettere.com

Jessie Folkens
Sr. Communications Consultant
952-837-8516
jessie.folkens@marquettere.com

Laboratory standards company to move into Golden, Colo. business park in late 2011

DENVER (May 23, 2011) — United Properties announces that it has signed a lease with Environmental Resource Associates (ERA) for its office flex building at 16341 Table Mountain Parkway in Golden, Colo. The laboratory standards company will move into the 65,000-sq.-ft. building in late 2011 to expand beyond its current space in Arvada.

Landlord United Properties was represented by its brokers Fred Baker and Bob Smith, and CB Richard Ellis’ Jim Bolt and Jeremy Kroner. David McCagg of UGL Services represented ERA. Pinkard Construction Company will carry out interior improvements to the building on behalf of the new tenant.

“We are excited to welcome ERA as our new tenant and business partner; we look forward to the group’s move-in later this year,” said Rob Loftus, asset management, United Properties.

Located at the base of Table Mountain in Golden, the building is the newest within Coors Technology Center, a 375-acre, master-planned business park. This building is the first to be completed with United Properties and the vacant land inventory of Ojala & Company, a United Properties company. This transaction comes on the heels of the sale of two contiguous vacant industrial lots totaling 2.5 acres within Coors Technology Center.

Media Contacts
Martha Nevanen
Vice President, Marketing Communications
952-893-7539
martha.nevanen@marquettere.com

Jessie Folkens
Sr. Communications Consultant
952-837-8516
jessie.folkens@marquettere.com

1912 under-renovation building now nearly 90 percent leased

MINNEAPOLIS (April 19, 2011) – United Properties announces that the Ford Center has signed a lease with Olson, one of the top 10 independent, full-service agencies in North America and the largest in Minnesota, for approximately 125,000 sq. ft., in its historic office building in Minneapolis. The building is currently undergoing a large-scale redevelopment. The new Olson lease, together with the recent lease with HGA Architects and Engineers for approximately 83,000 sq. ft., brings the Ford Center to nearly 90 percent occupied.

Creative agency Olson will move more than 300 employees into renovated space on the top five floors of the building at year-end 2011. Chris Rohrer and Sheila Hanson of Jones Lang LaSalle represented Olson in the transaction. Jim Montez and Sonja Dusil, office leasing agents at NorthMarq, represented owner United Properties. Olson also has offices in Chicago and Toronto.

“Olson has been carefully seeking the right space for some time, and historic Ford Center is just the right fit as we continue to grow our agency of the future,” says Kevin DiLorenzo, Olson CEO. “We’re excited to be a part of the neighborhood revitalization going on around Target Field, and now we’ll be able to keep a closer eye on those Twins from our new rooftop deck.”

The renovations, which began in late 2010, will preserve the design of the 1912 building, originally a vertical assembly plant and car showroom built for Ford Motor Company.

“We are very pleased to reach this level of pre-leasing and are excited that the renovated building will be open in fall 2011,” said John Saunders, United Properties. Saunders and Bill Katter are co-leading the project.  “United Properties is thrilled to have Olson making Ford Center its Minneapolis headquarters,” said Katter.

Owned by United Properties since August 2007, the 269,000-sq.-ft. office building is 11 stories and adjacent to Target Field and the future downtown light rail and Northstar commuter hub.

About Olson
Olson is one of the top 10 independent, full-service agencies in North America. The 400-person-strong agency is dedicated to building and activating brand communities by combining insight, ingenuity and accountability. Holistic by design, Olson aims to be the leading brand connection agency in the world by providing brand anthropology and strategy, advertising, mobile, interactive, social engagement, public relations, design, media and one-to-one for the world’s most respected brands. For more information, visit www.oco.com, join us at facebook.com/Olsonagency and follow us on Twitter @Olsonagency.

Media Contacts
Martha Nevanen
Vice President, Marketing Communications
952-893-7539
martha.nevanen@marquettere.com

Mary Lilja
952-893-7140
mcl@lilja.com

Leases with Little Caesars Pizza and Hirshfield’s fills retail property

MINNEAPOLIS (March 7, 2011) – United Properties announces that its newest lease at Prairieview Shopping Center in Eden Prairie brings the neighborhood retail center to 100 percent occupancy. Little Caesars Pizza signed a lease in February for 1,485 sq. ft. of space to bring the center to 100 percent leased. Just before that, United Properties secured a lease with Hirshfield’s for 4,248 sq. ft. of space it moved into this month.

The addition of Hirshfield’s and two other lease transactions in 2010 had brought the center to 98 percent, coming off more two years of vacancies.

“With standard neighborhood retail vacancy at 14 percent, our retail properties are far above market average,” said Matt Sonntag, assistant vice president and asset manager, United Properties. “Occupancy for our Twin Cities retail properties is nearly 97 percent and we have worked hard for that.”

Landlord United Properties is represented by NorthMarq leasing agents Ronn Thomas and Brad Kaplan.

Anchored by Rainbow Foods, Prairieview Shopping Center is a 115,000-sq.-ft. neighborhood retail center, which includes 52,500 sq. ft. of attached shop space. Other tenants include: Eden Prairie Liquors, Starbucks, Bakers Square and Empire Beauty School. Recent renovations earned a Shopping Center Tribute Award for Retail Real Estate (STARR) Award from the Minnesota Shopping Center Association.

Media Contacts
Martha Nevanen
Vice President, Marketing Communications
952-893-7539
martha.nevanen@marquettere.com

Jessie Folkens
Sr. Communications Consultant
952-837-8516
jessie.folkens@marquettere.com

MINNEAPOLIS (Feb. 16, 2011) — The Building Owners and Managers Association (BOMA) of Greater Minneapolis announced that United Properties’ Northland Center has been awarded the prestigious TOBY Award. Northland Center advances the regional level of the competition. Northland Center, owned by United Properties and managed by NorthMarq Real Estate Services, won the award in the 250,000–499,999 sq. ft. category.

The TOBY Awards recognizes excellence in office building management in fourteen different categories based on size and facility type. TOBY stands for The Outstanding Building of the Year (TOBY) Award.

Media Contacts
Martha Nevanen
Vice President, Marketing Communications
952-893-7539
martha.nevanen@marquettere.com

Jessie Folkens
Sr. Communications Consultant
952-837-8516
jessie.folkens@marquettere.com

City of Bloomington approves plans for mixed use redevelopment

MINNEAPOLIS (Dec. 9, 2010) – United Properties and StuartCo received final development plan approval from the City of Bloomington in late November for a multi-phase retail and residential project at the intersection of Penn Avenue and American Boulevard in Bloomington, Minn. Beginning in May 2011, the first phase will include construction of Genesee apartments and town homes, comprised of 234 housing units, built by StuartCo, and two retail buildings built by United Properties.

According to United Properties development manager Brandon Champeau, the plan for the three-acre first phase includes three buildings consisting of:

• A four-story building with 14,000 square feet of retail and restaurants and 60 apartments above
• An eight-story apartment building with 152 units
• A four-story townhome building with 22, two-story units

The site will re-establish the grid system in the immediate area, allowing future redevelopment to occur in smaller phases, and will include surface, secured structured and public on-street parking. The next phase is expected to include additional retail and office space.

“There’s a definite demand for upper-end market apartment units in the City of Bloomington. The 494 strip location is outstanding; it’s close to retail, easy access to major freeways, airport and several large employers. We are confident that this area will attract all ages for housing,” said Ryan Dunlay, vice president, StuartCo Development.“Our vision is to develop a product that fits the lifestyle of this location with a full amenity package to include rooftop deck, state-of-the-art fitness center, outdoor pool, movie theater and unique floor plans. StuartCo is proud to add this development Genesee to our portfolio of properties.”

“The pre-development work for this project took place in some of the choppiest seas our industry has seen. The City of Bloomington and particularly its HRA have worked closely with us through the entire process, making the Penn & American development different, and very much improved from the original concept,” said Keith Ulstad, senior vice president, United Properties. “Our design, mix of uses and integration into the transportation system brings out the best in the sub-market, our location and our specific project site.”

United Properties worked for nearly five years planning the new development, which will replace two former car dealerships. The Bloomington Housing and Redevelopment Authority and United Properties have an agreement under which United Properties will develop the site with StuartCo.

About StuartCo

StuartCo, based in Minneapolis, Minn., celebrated their 40th year of developing, operating and owning multi-family properties. Over the company history we have owned and operated properties in the Upper Midwest – primarily Minnesota, Wisconsin and Nebraska. We currently operate 5,000 units of apartments, over 130,000 of commercial space and a home health care division that services our senior campus in the Highland Park area of St. Paul. For more information on Genesee or any other projects, please visit www.stuartco.com.

(A digital rendering is available by request.)

Media Contacts

Martha Nevanen
Vice President, Marketing Communications
952-893-7539
martha.nevanen@marquettere.com

Jessie Folkens
Sr. Communications Consultant
952-837-8516
jessie.folkens@marquettere.com

1912 building receives approval for historic renovation designs

MINNEAPOLIS (Nov. 23, 2010) – United Properties announces that the Ford Center* has signed a lease with HGA Architects and Engineers for 80,000 sq. ft. in its historic office building in the Minneapolis Warehouse District. To ready the Ford Center for 2011 renovations, United Properties also recently received historic renovation design approval from the National Park Service and the Minneapolis Heritage Preservation Commission, and approval for a building addition from the City of Minneapolis Planning Commission.

With the new lease, HGA will move into renovated space on the first four floors in the summer of 2011. Russ Nelson and Anna Coskran of Nelson, Tietz and Hoye represented HGA in the transaction. HGA will serve as the project architect on the renovations and manage the process for the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) certification.

“As HGA serves an expanding national and regional client base, the Ford Center’s generous floor plates supportcollaborative teamwork – and its proximity to light rail and public transit reinforces our firm’s commitment to urbanism and sustainability,” said Stephen Fiskum, chief operating officer, HGA.

The project is led by John Saundersand Bill Katter of United Properties and will begin in December 2010, subject to final permitting. The team also includes leasing agents Jim Montez and Sonja Breyfogle of NorthMarq, historic consultant Charlene Roise of Hess Roise, and general contractor RJM Construction.

United Properties has committed to a large scale redevelopment consistent with the historic nature of the building and the transformation of this area of Minneapolis:

• The window line – the most distinguishing characteristic of Ford Center– will be restored with more energy efficient windows while preserving the original design.
• The main level of the building will feature a hallway with 18 foot ceiling heights, and exposed columns that display the original building architecture.
• All new mechanical systems, restrooms and elevators will be included in the renovation.
• The HGA floors and all office floors will be built out with open ceiling heights of nearly 12 feet, incorporating a raised floor system with under floor delivery of conditioned air.
• The Fifth Street entrance will be recreated to simulate the historic entrance to the building and will connect pedestrians and users to future-expanded Light Rail Transit, making the building one of the first transit-oriented office redevelopments in the City of Minneapolis.
• The lower level of the building will include executive parking and a building-common fitness center, which will be located in the former train shed area of the building.

“This is one of our most unique locations and renovation projects – and a commitment to help redevelop the ballpark neighborhood,” said Frank Dutke, president, United Properties. “The process has been extensive, including local historic and national preservation approvals.”

Owned by United Properties since August 2007, the 265,000-sq.-ft. office building is adjacent to Target Field and the future downtown light rail and Northstar commuter hub. The 11-story building was built in 1912 as a vertical assembly plant and car showroom for Ford Motor Company.

*  during the renovation planning, the building has been renamed Ford Center (previously Ford Centre)

Media Contacts

Martha Nevanen
Vice President, Marketing Communications
952-893-7539
martha.nevanen@marquettere.com

Jessie Folkens
Sr. Communications Consultant
952-837-8516
jessie.folkens@marquettere.com