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News Release

Rasmussen College Leases 20,000 Square Feet in United Properties' New Build-to-Suit Project

MINNEAPOLIS (July 11, 2006) – United Properties recently completed a lease with Rasmussen College for a 20,000-square-foot, build-to-suit education and office building in Eagle Point Business Park in Lake Elmo. United Properties is the general contractor for the project, which will be managed by the company’s Corporate Solutions division. 

Rasmussen College signed an 11-year lease and is expected to occupy the facility by the end of the year.  The college will offer courses in accounting, allied health, business management, crime management, digital design and advertising, early childhood education, office management and technology and information management, complementing its other campuses in Brooklyn Park, Eagan, Eden Prairie, Mankato, St. Cloud and online. The Lake Elmo location also will house the college’s Minnesota corporate offices.

“We are excited to be working with the college on its leasing, construction and management needs in order to bring their services to the Lake Elmo, Woodbury, Oakdale, Stillwater, Wisconsin and surrounding communities.  Rasmussen College is an excellent addition to the Eagle Point Business Park,” said Tom Stella, vice president office brokerage, United Properties.

Eagle Point Business Park is a 120-acre master-planned office park developed by United Properties near the northeast corner of I-94 & Inwood Avenue. Approximately 70 acres remain to be developed with multi-tenant and build-to-suit office space.

Other developments within Eagle Point Business Park include Eagle Point Office Center phases one and two, Bremer Service Center, City and County Credit Union, the Machine Shed restaurant, Wildwood Suites Hotel, High Point Medical Center and Eagle Point Office Condominiums.

About Rasmussen College
Rasmussen College is an institution of higher learning dedicated to the growth and development of students, employees, and the communities it serves. Founded in 1900, Rasmussen College is recognized as a leader in innovative curriculum design, instructional delivery, and technology application in education. Rasmussen operates six campuses in Minnesota (Brooklyn Park, Eagan, Eden Prairie, St. Cloud, Mankato and Rasmussen College Online). Rasmussen offers associate degrees, Bachelors degrees, diplomas and certificates in accounting, allied health, business management, crime management, digital design and advertising, early childhood education, nursing, office management and technology and information management.  For more information please visit www.rasmussen.edu 

About United Properties
United Properties is a full-service commercial real estate company with more than 400 employees and 25 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 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. The company received the 2004 National Developer of the Year Award from the National Association of Industrial and Office Properties (NAIOP), the commercial real estate industry’s leading trade association. 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  

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