News Release
United Properties Honored as NAIOP 2004 Developer of the Year
Washington, D.C - The National Association of Industrial and Office Properties (NAIOP), the nation’s leading trade association for developers, owners, investors and asset managers in industrial, office and related commercial real estate, today announced that Minneapolis-based United Properties is the winner of the organization’s prestigious 2004 Developer of the Year award.
“United Properties’ ability to succeed in this challenging business environment is a great testament and validation of the company’s business strategy, strategic vision and ability to execute,” said Stephen Crosby, NAIOP national chairman and president, CSX Real Property in Florida. “United’s unwavering focus on its customers is one factor that allows the company to deliver the consistent, long-term performance that has become its hallmark.”
The 2004 Developer of the Year award will be presented to Boyd Stofer, United Properties president and chief executive officer, on Wednesday, October 20, during NAIOP’s 2004 Annual Conference in San Diego. Stofer will deliver an address during a special luncheon to honor the company, which culminates with a keynote address by well-known political pundit Charlie Cook.
“United Properties is honored to receive the distinguished Developer of the Year Award,” Stofer said. “We have found that our model of being a diversified, full-service commercial real estate firm has given us the competitive edge to succeed in today’s challenging marketplace. For our peers to acknowledge our company with this award is truly an honor.”
Given annually to one developer nationwide that best exemplifies leadership and innovation in the commercial real estate market, the Developer of the Year award is determined by a five-member selection committee of industry peers that uses six criteria to evaluate entries: industry and business leadership, involvement in NAIOP, quality of products and services, financial consistency and stability, ability to adapt to market conditions and social consciousness. Past winners of the NAIOP award include: Colonial Properties Trust, Lowe Enterprises, Duke Realty Corporation and Stiles Corporation.
Prospering During Challenging Times
As a diversified real estate development, investment and services company engaged in a wide variety of office, industrial, retail and mixed-use projects, United Properties’ business strategy enables the company to grow and prosper during both up and down market and economic cycles. Highlights include:
- Development of Centennial Lakes, a 100-acre, $300 million mixed-use development in Edina, Minnesota;
- Development of several business parks including Mendota Heights Business Park, a 230-acre complex containing 1.7 million square feet of office and industrial development;
- Development of several new grocery-anchored retail centers and the acquisition and repositioning of a number of existing centers in the Midwest.
- Development of several senior housing and medical related projects, both relatively new endeavors for the company;
- Grown to be the area’s largest third-party real estate services business for brokerage, property management, corporate services, investment services and construction.
Since the company’s inception in 1916, United Properties has grown dramatically and is now one of the largest commercial real estate companies in the Midwest. Today, the company owns or manages a portfolio in excess of 26 million square feet. In addition to its successful development business, United Properties is a market leader in each of its related service segments, which has compelled the company to make customer service its driving premise. United Properties today employs 400 people in its three-pronged platform of development, investment and real estate services. The cornerstones of the company’s success are its ability to attract top talent, commitment to a strong culture of teamwork, and its ability to adapt to changing markets.
Uncompromising Industry and Community Involvement
The NAIOP selection committee found that United Properties demonstrates a strong commitment to the industry through its consistent support and leadership of NAIOP at the local and national levels.
United Properties’ staff members are active participants in NAIOP’s National Forums, which provide members from across North America the opportunity to discuss, debate and exchange ideas with other industry leaders.
United Properties continues to set an example of giving back to the community with both financial and in-kind charitable contributions. Last year, the company provided management, engineering and maintenance resources to the Boys and Girls Clubs of the Twin Cities where Stofer serves as a Board member. In addition, United contributed construction services to build a facility for CornerHouse, a child abuse evaluation center, and regularly supports Bridging, Inc., a nonprofit organization that collects and distributes donated home furnishings for people transitioning from temporary to permanent housing. According to Stofer, “One of the company’s guiding principles is that in addition to being a profitable business enterprise, we will positively contribute to both the community at large and to the broader industry within which we operate.”
About NAIOP:
The National Association of Industrial and Office Properties is the nation’s leading trade association for developers, owners, investors and asset managers in industrial, office and related commercial real estate. Founded in 1967, NAIOP is comprised of more than 11,500 members in 49 North American chapters and provides networking opportunities, educational programs, research on trends and innovations and strong legislative representation. For more information, visit www.naiop.org.
About United Properties:
United Properties is a full-service commercial real estate company with more than 400 employees and 26 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.
Edward Remington NAIOP (703) 904-7100, ext. 112 remington@naiop.org Lisa Hannum United Properties (651) 488-6818 lhannum@kolrudhannum.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