News Release

United Properties Announces New Leases for Two East Metro Office Properties

MINNEAPOLIS (Feb. 25, 2004) — United Properties has signed or renewed leases totaling 120,000 square feet at two east metro office properties, according to Tom Stella, vice president, United Properties Office Brokerage. 

The Minnesota State Lottery has renewed its lease for 61,500 square feet at Rosedale Corporate Plaza, located at 35W and County Road C in Roseville. Shavlik Technologies Company signed a new lease and expanded to 18,000 square feet, and American Equities has signed a new lease for 3,000 square feet. Rosedale Corporate Plaza is a 234,000 square foot Class A office building. The property is currently more than 80 percent leased.

The 75,000 square foot Capital Office Building, located at 525 Park Street, St. Paul, has added, renewed and expanded leases with six tenants to backfill more than 23,000 of the 42,000 square feet vacated by the State’s Attorney General in August. New leases were inked with the Republican Party, Associated General Contractors of Minnesota, law firm Flaherty and Hood, P.A., and state leases signed for the Office of the State Auditor, Sentencing Guidelines Commission and Reviser of Statutes. “We expect another 15,000 square feet of leases and renewals to be signed the first quarter of this year, which will bring building occupancy up to 82 percent,” Stella added.

About United Properties
United Properties is a full-service commercial real estate company with more than 400 employees and 26.5 million square feet of office, industrial, retail and multi-family properties under management. The company specializes in diverse real estate services, including brokerage, property management, corporate real estate services, facility services, construction management, development services and investment services. Based in the Twin Cities, United Properties serves other markets through its affiliations with ONCOR International, an organization of commercial real estate companies serving more than 200 markets throughout the world, and ChainLinks Professional Resource Network, the largest retail-only full-service real estate provider in North America. United Properties is located on the Web at www.uproperties.com.

 
Media Contacts
Martha Nevanen
Vice President, Marketing Communications
952-893-7539
mnevanen@uproperties.com

Jessie Folkens
Sr. Communications Consultant
952-837-8516
jfolkens@uproperties.com