MINNEAPOLIS (Sept. 11, 2014) – United Properties announces that it has closed on the land acquisition for Red Rock Industrial Building in Maple Grove. Located near the intersection of County Road 81 and 89th Avenue North, construction of the 320,000-sq.-ft. speculative industrial building will begin Sept. 15 and be complete by June 2015.
United Properties received approval from the City of Maple Grove in August for the 32-foot clear ceiling industrial building, originally proposed as two separate buildings totaling 320,000 sq. ft. Due to tenant requirements in the market and rising construction costs, one larger building was put forward as a more cost effective solution.
“Given the lack of large sites near the 494/694 loop, we are excited to bring our building to the market,” said Brandon Champeau, vice president, United Properties. “We appreciate the city’s willingness to work with us to amend the plans and keep us on schedule.”
Cushman & Wakefield | NorthMarq’s Jon Yanta, Jason Meyer and Brent Masica are marketing the property with strong pre-leasing activity among a number of companies. The project team also includes Lampert Architects, engineer EVS, Inc. and RJM Construction.
Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com
Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com
About United Properties
United Properties has been creating deep roots in the commercial real estate industry for more than 100 years. The company imagines new possibilities in real estate to help enrich communities and create lasting legacies. United Properties provides market expertise for ground-up development, redevelopment and acquisitions of value-add and stable investments. The company invests in and develops office, industrial, retail, mixed-use and senior housing properties. United Properties is owned by the Pohlad Companies and is headquartered in Minneapolis, with offices in Denver and Austin, Texas.
