MINNEAPOLIS (Dec. 22, 2004) — United Properties is nearing completion on construction of a 70,000 square foot build-to-suit project that will be the new home of the Le Cordon Bleu culinary program at Brown College. The industry-current facility will be located in Mendota Heights between Highway 13 and Interstate 35E, near Brown College’s main campus, and is expected to be complete in February 2005.

MINNEAPOLIS (Dec. 21, 2004) — Mark Mundahl has joined United Properties Corporate Real Estate Services as director of operations. He is responsible for spearheading account transitions, support of strategic initiatives and leading the division’s Cost Reduction Solutions Group.

MINNEAPOLIS (December 15, 2004) — After nearly two years of planning and preparation, Elliot Park Lifesciences Institute (EPLI), the first dedicated business incubator in the Minneapolis Lifesciences Corridor, is set to open Thursday, Dec. 16. Minneapolis Mayor R.T. Rybak will join EPLI investors and other healthcare and community leaders for a 5 p.m. to 7:30 p.m. event to mark the opening of the Lifesciences Building, located at 700 South 10th Avenue in downtown Minneapolis.

MINNEAPOLIS (December 14, 2004) — The Twin Cities industrial and office commercial real estate markets continued to gradually rebound during the second half of 2004, resulting in the strongest demand and the first signs of vacancy declines since 2000, according to United Properties’ year-end 2004 Outlook market study.

MINNEAPOLIS (Nov. 17, 2004) — Bruce Palmer, senior vice president, construction services, United Properties, was recently named a Fellow of the Construction Management Association of America (CMAA). Nationwide, Palmer is one of only five professional construction managers to receive the designation –– which is one of CMAA’s highest honors –– given to industry leaders who have made significant contributions to their organizations, the industry and their professions.

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.

MINNEAPOLIS (Nov. 10, 2004) — Normandale Lake Office Park has been honored with a Trendsetters Award from The Greater Minneapolis Building Owners Association (BOMA). The one-time award was given in late September in honor of the association’s centennial year at a celebration recognizing a century of achievements on behalf of the greater Minneapolis commercial real estate community.

MINNEAPOLIS (Oct. 18, 2004) — Kowalski’s Markets will be the first specialty grocer to enter the Stillwater market when it opens a 40,000 square foot store in Oak Park Heights next summer. The upscale grocer will anchor a 112,000 square foot neighborhood center located at the intersection of Minnesota State Highways 36 and 5.

MINNEAPOLIS (Oct. 14, 2004) — Minneapolis-based Tria Development, LLC, has partnered with United Properties to market First Avenue Lofts, the first all-condo office building in downtown Minneapolis.

MINNEAPOLIS (Oct. 11, 2004) — TIAA-CREF has selected United Properties to provide leasing and property management services for Campbell Mithun Tower, a 725,000 square foot, Class A office tower located at 222 South Ninth Street in downtown Minneapolis.

MINNEAPOLIS (Oct. 6, 2004) — United Properties has signed a ten-year lease with Panera Bread to open its first downtown Minneapolis location in the Midwest Plaza building located at 801 Nicollet Mall. Expected to open in February of 2005, Panera will occupy approximately 4,500 square feet of space on three levels.

MINNEAPOLIS (August 10, 2004) — GMAC Residential Funding Corporation (GMAC-RFC) has completed a 244,000 square foot lease that will keep the company at Normandale Lake Office Park through 2013. The 1.4 million square foot Class A office park is located at Interstate 494 and Highway 100 in the Twin Cities suburb of Bloomington.

MINNEAPOLIS (July 28, 2004) — United Properties Corporate Real Estate Services was recently selected by ADC Telecommunications, Inc. to assist in managing its global real estate portfolio information, according to Anne-Marie Cookson, director of Portfolio Information Management, United Properties Corporate Real Estate Services.

MINNEAPOLIS (July 26, 2004) — Sustained recovery in the Twin Cities commercial office and industrial markets began in earnest the first half of 2004, while the retail and investment markets continued to steam forward, according to United Properties’ mid-year 2004 Outlook market study.

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.

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.

MINNEAPOLIS (June 1, 2004) — United Properties Corporate Real Estate Services recently represented Ecolab in the purchase of The Waters, a 90-acre, 481,000-square-foot corporate campus located at Dodd Road and Highway 55 in Eagan, according to Nancy Miller, senior consultant, United Properties Corporate Real Estate Services.

MINNEAPOLIS (May 12, 2004) — United Properties broke ground Friday, May 14 on Lyndale Green, a mixed-use redevelopment located at 84th St. and Lyndale Ave. in Bloomington. The project will involve the redevelopment of approximately 13 acres, which encompass the existing Cub Foods store and the now-vacant Gander Mountain Outlet, as well as the site previously occupied by Budget Power.

MINNEAPOLIS (May 11, 2004) — United Properties Corporate Real Estate Services has recently completed multiple real estate transactions — ranging from clinic expansions and consolidations to site selection for new clinics — on behalf of HealthEast Care System, the largest health care provider in the Twin Cities East Metro area.

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.

MINNEAPOLIS (April 20, 2004) — Kevin Farrell has been selected to lead United Properties Corporate Real Estate Services as executive managing director, according to Larry Pobuda, United Properties senior vice president. He will join the company in early May.

MINNEAPOLIS (March 31, 2004) — United Properties Healthcare Real Estate Group represented Gillette Children’s Specialty Healthcare in an extensive real estate search that has resulted in the healthcare provider signing a 15-year lease for a new clinic in Burnsville.

MINNEAPOLIS (March 29, 2004) — United Properties has been selected to develop condominiums and town homes at Midland Hills Country Club, located just east of Highway 280 on Roselawn Avenue in Roseville, according to Brian Carey, vice president, United Properties Development.

MINNEAPOLIS (March 18, 2004) — United Properties and the Roseville Coalition of Churches have been jointly recognized by the Metropolitan Council for their work on Applewood Pointe of Roseville, a senior housing cooperative currently under construction in Roseville at County Road C2 and Snelling Avenue.

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.

MINNEAPOLIS (Feb. 20, 2004) — United Properties Corporate Real Estate Services has been selected by Argosy University/Twin Cities to provide facility management services at the school's new 85,000 square foot campus in Eagan, according to Paul Wallerius, national director of operations, United Properties Facility Management Services division.

MINNEAPOLIS (Feb. 18, 2004) — United Properties has been selected to provide property management and leasing services for the 5995 Opus Parkway building in prestigious Opus Park in Minnetonka.

MINNEAPOLIS (Feb. 13, 2004) — Gabbert & Beck, Inc. has selected United Properties to provide property management for Centennial Lakes Plaza and property management and leasing services for Burnside Plaza.

MINNEAPOLIS (Feb. 11, 2004) — Investors are underwriting a recovery in the Twin Cities commercial real estate investment market, to the point that prices for in-demand properties are trending higher, according to United Properties’ year-end 2003 Outlook market study. The Twin Cities-based commercial real estate company released its final year-end 2003 market study last week.

MINNEAPOLIS (Jan. 26, 2004) — Ryan Companies US, Inc. has announced development plans for Dean Lakes, a unique Twin Cities mixed-use development that integrates residential, retail, office and high-finish industrial areas to create a thriving community where people can live, work and shop. The developer has selected United Properties to manage the sales and leasing activities of all commercial real estate at the site.

MINNEAPOLIS (Jan. 26, 2004) — KAS Investment Co., Rochester, has selected United Properties as general contractor for its 38,400 square foot industrial condo building in Mendota Heights.

MINNEAPOLIS (Jan. 23, 2004) — Larry Pobuda, United Properties senior vice president, is the recipient of the 2004 President’s Award from the Minnesota Chapter of the National Association of Industrial and Office Properties (NAIOP). Pobuda received the award — the association’s highest honor — at NAIOP’s annual Awards of Excellence event last night.

MINNEAPOLIS (Jan. 5, 2004) — Bill Katter will join United Properties as vice president in the company’s Investments group on Feb. 2, according to Frank Dutke, senior vice president, United Properties Investments.