News Release
United Properties to Develop Grocery-Anchored Retail Center in Lakeville
MINNEAPOLIS (April 30, 2004) — United Properties will develop Argonne Village, a 115,000 square foot grocery-anchored center at the intersection of County Road 50 and 176th St. West in Lakeville, according to Keith Ulstad, vice president of retail development, United Properties. Lease negotiations are underway with Milwaukee-based Roundy’s, Inc. for a 69,000 square foot Rainbow Foods. The project will also feature 30,000 square feet of attached shop space and a 14,500 square foot standalone Walgreen’s. The site is also designed to accommodate up to four additional retail tenants in free-standing buildings.
Through a five-year process, United Properties acquired 30 acres of land for the development by assembling 12 separately owned parcels. Twenty acres will be used for the Argonne Village center with the additional 10 acres earmarked for wetlands and future residential development.
Construction is expected to begin early this summer with the anchors and attached shops to open first or second quarter of 2005.
To see the E-brochure for this development, go tohttp://forlease.uproperties.com/argonnevillage/
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