Occupancy at 370,000-sq.-ft. office tower now at 92 percent

MINNEAPOLIS (Nov. 21, 2011) – United Properties announces three tenant expansions and a new lease at Southpoint Office Center in Bloomington, located at 1600-1700 West 82nd Street. As a result, the two-tower office complex is now 92 percent occupied. New tenant Ecologic Analytics, an energy management company, signed a lease for 17,000 sq. ft. and will move into Southpoint in March. Current tenants HealthFitness, Wells Fargo and Marquette Transportation Finance are expanding and relocating within the complex.

Landlord United Properties was represented in the transactions by Bill Rothstein and Dan Wicker from Cushman & Wakefield/NorthMarq.

• The lease with Ecologic Analytics relocates the company’s corporate headquarters from another office tower in Bloomington to Southpoint. Paul Gibbs and Todd Braufman of Cushman & Wakefield/NorthMarq represented Ecologic Analytics.
• Wells Fargo expanded by 9,000 sq. ft. and renewed in their existing lease, bringing their total occupancy to 67,000 sq. ft. starting in March.
• The 18,000-sq.-ft. lease extension for Marquette Transportation Finance recently moved the company to the second floor of the east tower. Cushman & Wakefield/NorthMarq’s Ann Bourg and Josh O’Neill managed the project for the tenant and RJM Construction built out the space.
• Combining its spaces within Southpoint, HealthFitness is extending its lease and moving into 34,000 sq. ft., which includes walking treadmill offices. P. Kane Dossett of Partners National Real Estate Group represented HealthFitness in the transaction. RJM Construction is renovating the space, which will be available for December occupancy.

“These lease transactions are great examples of high quality tenants making strong commitments to Southpoint. The property is always well-leased by great companies due to its excellent quality and central location,” said John Saunders, vice president, United Properties. “With office vacancy at 18.4 percent in the southwest office market, this asset continues to perform well above many other buildings in the submarket.”

United Properties developed Southpoint Office Center, a 366,807-sq.-ft., Class A office complex. The 14-story, two-tower property is certified LEED Silver for Existing Buildings.

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

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