News Release
Great Point Investors Selects United Properties To Lease, Manage 805,000 Square Foot, 17-Building Twin Cities Industrial Portfolio
MINNEAPOLIS (Nov. 12, 2004) — Boston-based Great Point Investors LLC has selected United Properties to lease and manage an 805,000 square foot Twin Cities industrial real estate portfolio. United Properties’ assignment began November 1.
The Great Point portfolio includes 17 high-finish, office showroom buildings located in the northwest suburbs of Plymouth and Maple Grove, according to Dean Freeman, United Properties senior vice president. Office showroom industrial buildings generally feature a higher percentage of office space than traditional industrial buildings and are a cost-effective alternative to traditional office buildings. The portfolio is currently 83 percent leased to 108 tenants which include Advanced Duplication Services, STS Consultants and Dominium Apartment Management.
"We were looking for a property services team that would be a great fit for both our firm and the portfolio,” said Richard Leeret, vice president, Great Point. “The United Properties leasing and property management team is extremely experienced in the Twin Cities market and will provide tenants and prospective tenants the same high level of service that is offered across our entire portfolio.”
“We are pleased that Great Point has selected United Properties to lease and manage this significant portfolio,” United Properties’ Freeman said. “Our goal is to position each asset as a prime choice in its geographic area. These buildings are in excellent locations and offer flexibility and expansion opportunities for growing companies.”
United Properties’ Rob Loftus is the senior property manager for the portfolio. The leasing team includes Mark Sims, Chris Garcia and Dave Paradise.
About Great Point Investors
LLC Great Point Investors LLC is a Boston-based real estate investment advisor to public and private pension plans. Great Point Investors LLC currently manages over $650 million in assets and is actively seeking to acquire additional properties throughout the United States. The firm's Website address is www.gpinvestors.com.
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