News Release
United Properties Investment Sales Represents Thrivent Financial for Lutherans in Sale of 2.6 Million Square Foot Industrial Portfolio
Deals Affect Buildings in Four States
MINNEAPOLIS (June 9, 2004) — United Properties Investment Sales recently represented Thrivent Financial for Lutherans in the sale of an industrial real estate portfolio made up of 22 bulk warehouse buildings in four states. The combined transactions closed during the first quarter of the year.
United Properties negotiated the sale of eight Thrivent-owned bulk industrial buildings totaling 996,000 square feet to Shoal Creek Properties, Ltd., a private buyer from Austin, Texas. The buildings are located in Denver, Minneapolis and Phoenix, and are currently 85 percent occupied.
In a separate deal, United Properties negotiated the sale of a 14-building, 1.6 million square foot bulk industrial portfolio in Houston. Invesco, a Dallas-based pension fund advisor, purchased the portfolio. The buildings are currently 95 percent occupied.
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