Company caps milestone year with plans for its third HQ move in a century 

MINNEAPOLIS (December 8, 2016) – United Properties will move its headquarters from Bloomington to its new location at 7th & Nic. in downtown Minneapolis, the company announced today. Currently located in the Northland Center in Bloomington, United Properties will relocate to the fourth floor of the building formerly known as Gaviidae Common, at 655 Nicollet Mall. The move will take place in early 2017.

“This is an exciting new chapter for United Properties,” says Eva Stevens, president and chief operating officer, who, together with Bill Katter, president and chief investment officer, assumed their co-president roles earlier this year. “We are moving forward on several fronts, and the headquarters move is just another example,” she said, adding that this marks just the third time in the company’s 100-year history that it has moved its corporate headquarters.

Privately held United Properties has been creating deep roots in the Twin Cities since 1916. Two iconic Minnesota families have owned the company in its 100-year history: the Hamm family of St. Paul, and the Pohlad family of Minneapolis. Formed in 1916 by the owners of Hamm’s Brewing Company, United Properties managed the family’s real estate assets from its downtown St. Paul location in the Hamm Building for more than 60 years. From its second location in Bloomington – in the Northland Center, a building complex United Properties developed in 1983 – the company has grown into a commercial real estate powerhouse, shaping the skyline of cities throughout Minnesota and Colorado. The Pohlad family of Minneapolis, owners of Pohlad Companies, acquired United Properties in 1998 to broaden their business interests.

Similar to its previous moves, United Properties will occupy office space that it owns. United Properties purchased the third and fourth floors of Gaviidae Common in June 2016, following its acquisition of the first and second floors in early 2015. Katter said the company will take the majority of one floor for its own use, and will seek office tenants for the remainder of the space.

“As we look forward to our 101st year and beyond, we’re excited about the opportunities our new downtown location will bring,” says Katter. “Like the needs of the clients we serve, our own space needs are changing. Our move downtown will allow us to reinvent the space we occupy and provide inspiring new opportunities for our growing team.”

The move will also help streamline coordination and communication between United Properties and the Pohlad Cos., located in the nearby RBC Plaza.

During its anniversary year, United Properties has been busy in both of its hometown cities. In St. Paul, it is redeveloping the former St. Paul Saints Midway Stadium into an industrial building. In Minneapolis, United Properties is involved in several high-profile projects, including the Gateway development/Nicollet Hotel Block.

PLYMOUTH, Minn. (November 2016) – Cherrywood Pointe of Plymouth, a new 130,000-square-foot senior living community located at 18405 Old Rockford Rd. in Plymouth, Minn. has broken ground.

The three-story development is owned by United Properties and managed by Ebenezer Management Services, which provides daily operational and management services.

Cherrywood Pointe of Plymouth offers a variety of housing solutions for older adults, ranging from options for those who choose to live independently to those who want to take advantage of the care and services that are available 24/7.  Cherrywood Pointe’s 94 units feature 66 independent and assisted living apartments; 23 memory care apartments, which are designed for those with Alzheimer’s and other forms of memory loss; and five enhanced care apartments, which offer a home-like alternative to traditional nursing home care for those needing higher levels of care.

Designed by Kaas Wilson Architects and Henricksen Interiors and constructed by Weis Builders, Cherrywood Pointe’s onsite amenities include state-of-the-art remote monitoring technology, onsite visits by geriatric physicians and nurse practitioners, and a full-time nurse who is on-call 24 hours.

The senior living community will feature a restaurant-quality dining room with chef-prepared meals, private dining, an overnight guest suite, balconies, community rooms, lounge and media room.   In addition, Cherrywood Pointe will provide an activities director, movie theater, fitness center, hair salon, underground parking and scheduled group transportation in the community van.

Cherrywood Pointe is expected to open in early 2018.

Ebenezer Management Services

Cherrywood Pointe of Plymouth is managed by Ebenezer Management Services (www.ebenezermanagementservices.org), an experienced provider of residential and health care environments for seniors since 1917.

Former Marquette Financial Companies executive joins 

United Properties executive tea

MINNEAPOLIS (Nov. 7, 2016) – United Properties announced today that Bruce McGrath has joined United Properties as the company’s chief risk officer, effective Nov. 1, 2016.

In his new role, McGrath, 55, will be a member of the United Properties executive team and will be responsible for leadership of enterprise risk management across the organization’s development, investment and senior housing businesses. He will report to Eva Stevens, president and chief operating officer, who co-manages the company with Bill Katter, president and chief investment officer.

McGrath brings more than 20 years of experience in the area of risk management, including tenure with the Pohlad-owned Marquette Financial Companies prior to its sale to UMB Financial in 2015. Since that time, McGrath has served as UMB’s executive vice president and chief regional credit officer, responsible for the credit function and portfolio risk at both the holding company and subsidiary level, including specialized lending units and commercial real estate, as well as commercial and retail banking.

“United Properties today manages a significant balance sheet, including a new capital infusion from our owners to help expand our Cherrywood Pointe senior housing,” Stevens said.

“We are very pleased to welcome Bruce back to the Pohlad organization, and to United Properties, and know that he will be an important partner as we address the increasing complexity of our business model and our plans to grow,” she said.

b>Media Contacts 

For United Properties:
Sheila Thelemann
952.837.8654
sheila.thelemann@uproperties.com

New 402,000 sq. ft. facility significantly increases company’s local footprint

 MINNEAPOLIS (August 22, 2016) – United Properties has signed a 402,000-sq.-ft. lease with Distribution Alternatives, Inc. for an industrial build-to-suit facility on a 30-acre site near the intersection of Interstate 35E and County Road 14 in Lino Lakes, Minnesota. Distribution Alternatives, a third party logistics firm based in Lino Lakes, plans to move into the new building in fall 2017. Site work commenced last week.

“This is one of the largest industrial build-to-suit leases in our market in recent years,” said Brandon Champeau, vice president for Bloomington—based United Properties. “We appreciate the opportunity to work with Distribution Alternatives on this forward-thinking facility which keeps them in the City of Lino Lakes.”

The building will be constructed with a 32’ clear ceiling height, making it ideal for cubic storage capacity. The new facility includes a cross-dock layout, outside trailer storage, excess power capacity for future automation and Gresser Concrete’s Prime Composite jointless floor slab – all features that give Distribution Alternatives an ‘e-commerce ready’ retail distribution facility.

“The demands of today’s e-commerce consumer are putting pressure on retailers and logistics providers to streamline the supply chain network. The distribution center plays a central role in this system, so our team worked collaboratively to design a facility that helps Distribution Alternatives meet their clients’ evolving requirements,” Champeau said.

“We are thrilled to be in the position to grow and move our headquarters operations into this new facility, while at the same time remain in the city of Lino Lakes,” said Distribution Alternatives executive vice president Len Thurmes. “This new facility will serve us, our supplier partners, and our growing customer base for many years to come.”

United Properties has also secured an option with landowner Rehbein Properties to develop approximately 100 acres of commercial and industrial land around the new facility, named Clearwater Creek Business Park.

In addition to United Properties, the project team includes Jon Rausch of Cushman & Wakefield Northmarq, building design by Lampert Architects and general contractor RJ Ryan. Rob Davidson of The Davidson Companies, Inc. represented Distribution Alternatives in the transaction. DLR Group designed the company’s interior improvements.

About Distribution Alternatives, Inc.

Founded in 1935 in St. Paul, Minnesota, we have been distributing merchandise for over 80 years to the retail trade. Initially as Scholls Inc., we worked as a wholesale company delivering a variety of goods directly to our customer’s door. After 50 successful years of servicing the mass, grocery and department stores, due to changing demands, we evolved into Distribution Alternatives a 3rd Party Logistic Company. As a full service 3PL we contract with over 60 companies supplying warehousing and fulfillment services, and managing their distribution strategies using our 80 years of supply chain experience.  For more information, visit www.daserv.com.

sheila.thelemann@uproperties.com

New 402,000 sq. ft. facility significantly increases company’s local footprint

 MINNEAPOLIS (August 22, 2016) – United Properties has signed a 402,000-sq.-ft. lease with Distribution Alternatives, Inc. for an industrial build-to-suit facility on a 30-acre site near the intersection of Interstate 35E and County Road 14 in Lino Lakes, Minnesota. Distribution Alternatives, a third party logistics firm based in Lino Lakes, plans to move into the new building in fall 2017. Site work commenced last week.

“This is one of the largest industrial build-to-suit leases in our market in recent years,” said Brandon Champeau, vice president for Bloomington—based United Properties. “We appreciate the opportunity to work with Distribution Alternatives on this forward-thinking facility which keeps them in the City of Lino Lakes.”

The building will be constructed with a 32’ clear ceiling height, making it ideal for cubic storage capacity. The new facility includes a cross-dock layout, outside trailer storage, excess power capacity for future automation and Gresser Concrete’s Prime Composite jointless floor slab – all features that give Distribution Alternatives an ‘e-commerce ready’ retail distribution facility.

“The demands of today’s e-commerce consumer are putting pressure on retailers and logistics providers to streamline the supply chain network. The distribution center plays a central role in this system, so our team worked collaboratively to design a facility that helps Distribution Alternatives meet their clients’ evolving requirements,” Champeau said.

“We are thrilled to be in the position to grow and move our headquarters operations into this new facility, while at the same time remain in the city of Lino Lakes,” said Distribution Alternatives executive vice president Len Thurmes. “This new facility will serve us, our supplier partners, and our growing customer base for many years to come.”

 United Properties has also secured an option with landowner Rehbein Properties to develop approximately 100 acres of commercial and industrial land around the new facility, named Clearwater Creek Business Park.

In addition to United Properties, the project team includes Jon Rausch of Cushman & Wakefield Northmarq, building design by Lampert Architects and general contractor RJ Ryan. Rob Davidson of The Davidson Companies, Inc. represented Distribution Alternatives in the transaction. DLR Group designed the company’s interior improvements.

About Distribution Alternatives, Inc.

Founded in 1935 in St. Paul, Minnesota, we have been distributing merchandise for over 80 years to the retail trade. Initially as Scholls Inc., we worked as a wholesale company delivering a variety of goods directly to our customer’s door. After 50 successful years of servicing the mass, grocery and department stores, due to changing demands, we evolved into Distribution Alternatives a 3rd Party Logistic Company. As a full service 3PL we contract with over 60 companies supplying warehousing and fulfillment services, and managing their distribution strategies using our 80 years of supply chain experience.  For more information, visit www.daserv.com.

sheila.thelemann@uproperties.com

LITTLETON, COLORADO (August 4, 2016) — Balfour Senior Living, based in Louisville, Colo., and United Properties, with offices in Minnesota and Denver, have announced a new partnership to develop and own a 74,000 sq. ft. senior living community at 8290 W. Coal Mine Ave. in Littleton, Colo. The community, slated for occupancy in 2017, will be developed with best practices from United Properties’ successful Minnesota assisted and independent living communities and Balfour’s five communities in Colorado. United Properties will close on the land and break ground immediately.

The new community will have an “equestrian-themed” design that is inspired by local rural architecture and will feature approximately 56 assisted living apartments and 26 memory care units, with a total of 82 homes.

The new campus will feature large common areas for educational, political, university and community events – a hallmark of the Balfour brand – walking paths and hobby areas.  Award-winning Boulder, Colorado based DTJ Design will design the project’s interiors and exterior.

With a ten-year track record of commercial development in Denver, United Properties enters the senior housing market in Colorado as the lead investor, working with Balfour as the operating partner of the Littleton project. This move marks United Properties’ first senior housing development in Denver; it has twelve such projects in the Minneapolis, Minnesota area, with two more under construction.

“We’re proud to have the opportunity to expand to Littleton and Jefferson County to offer senior living apartment homes in a premier location with our signature Balfour services, in partnership with a well-known development partner, United Properties,” says Balfour Senior Living Founder and Chief Executive Officer Michael K. Schonbrun. “Balfour is committed to building and operating the best senior living communities in Colorado and this new development will incorporate all we have learned from our nearly 20 years of developing and operating senior housing.”

“We have been looking at this market for some time and we are very excited to have Balfour, with their outstanding reputation as a co-investor and operator, for our first community in Colorado,” saidMike Dailey, senior vice president, United Properties.  Dailey joined United Properties to focus on retail and residential development in 2015 after stints with MVG Development and Opus Northwest.

“United Properties is excited to expand our successful senior living business into Colorado, as an addition to our established commercial development in the Denver area,” said Bill Katter, President and Chief Investment Officer, United Properties.

About Balfour

Founded in 1997, Balfour Senior Living has received national and international recognition for its design and operations including awards from the Assisted Living Federation of America, Hospitality Design Magazine, the Colorado chapter of the AIA and the Pacific Coast Builders Association. Currently, Balfour operates four communities located in Louisville, CO and one in the Riverfront Park neighborhood of downtown Denver, offering residents a full continuum of care with independent living, assisted living, memory care and skilled nursing care.  Balfour’s vision is to offer a state-of-the-art senior living community with comfortably elegant interior design, locally inspired architecture, enhanced amenities and personalized health care services in a rental community with no large entry fees. For more information contact:  BalfourInfo@BalfourCare.com or 844.354.8877.

DENVER (July 12, 2016) – United Properties announces that it has recently hired two new associates in its Denver office to support development activities. Alicia Rhymer was hired as vice president of retail development, and Megan Turner as a development associate.

In her new role, Rhymer oversees retail investment and development activities for the company in the Denver area. This newly created role will help United Properties round out its development expertise in the market, having been successful in office and industrial development in the market for the past 10 years.

“We are pleased to welcome Alicia to United Properties. Her wealth of experience in retail development will be a definite plus to our Denver clients and to our entire team,” said Bill Katter, president and chief investment officer.

Rhymer has more than 11 years of experience in the real estate and development industry and most recently served as senior development director at Confluent Development LLC. She earned a Bachelor of Science degree in political science from Wright State University, and an Associate of Applied Science degree in legal assisting from Sinclair Community College.

Turner supports the development team in marketing, financial analysis, underwriting and due diligence for new developments in her role as development associate. She recently received a bachelor’s degree from the University of Colorado Boulder Leeds School of Business with an emphasis in operations management. During the course of study, Megan also received her real estate certificate from the CU Real Estate Center and remains active in the Center’s initiatives. Megan previously held an internship at United Properties.

Lease signing brings development’s Phase II to 100 percent leased

 MINNEAPOLIS (June 21, 2016) – United Properties announces that it has signed a 50,000-sq.-ft. lease with Caribou Technologies, Inc. at its second phase building in Blaine Preserve Business Park, located at Hamline Avenue and 95th Avenue Northeast in Blaine. Caribou Technologies, a medical device contract manufacturer, will move into the new space summer 2016. The company will consolidate its growing operation from two existing locations in Ham Lake.

United Properties began construction of the building in September 2015, soon after executing a lease with Arrowhead Electrical Products, Inc. for 30,000 sq. ft. By November 2015, Arrowhead expanded into a larger 50,000-sq.-ft. space. The lease with Caribou Technologies brings the building to 100 percent occupancy within five months of groundbreaking.

“We’re delighted to accommodate Caribou Technologies in a modern facility that positions the company to continue its impressive growth,” said Brandon Champeau, vice president, United Properties. “The building’s quick, successful lease-up demonstrates our business park is well positioned to serve the needs of growing companies in the northern suburbs of the Twin Cities.”

Cushman & Wakefield/NorthMarq’s Jon Rausch and Brent Masica make up the leasing team at Blaine Preserve. John Lorence and Matt Oelschlager of CBRE represented Caribou Technologies in the transaction. The building was designed by Lampert Architects, P.A. and constructed by R.J. Ryan Construction.

“The Caribou team is excited to complete the buildout and move into this new facility,” said Connie Magnuson, CFO and co-founder, Caribou Technologies. “Our overall manufacturing and office footprint will double to accommodate continuing growth in manufacturing of high volume components and subassemblies. Further, this facility allows us to expand the dedicated space, equipment and resources of the Caribou Innovation Center. Through the CIC, we collaborate with customer R&D engineers on new product and process development, reducing their project timelines and transfer into production.”

In addition to the Phase II building, Blaine Preserve Business Park includes a fully leased 100,000-sq.-ft. office/warehouse constructed in 2007. United Properties plans to begin developing a third, 200,000-sq.-ft. office/warehouse building at the business park in fall 2016. Click here for more information about Phase III & IV.

Media Contacts

For United Properties:
Sheila Thelemann
952.837.8654
sheila.thelemann@uproperties.com

Inova I selected for Comcast Corporation’s Centennial Campus

 Denver, CO (June 09, 2016) – Newmark Grubb Knight Frank (NGKF), United Properties and Principal Real Estate Investors announce INOVA I at INOVA Dry Creek, a five-story, 212,000-square-foot office building located at 7250 South Havana Street has leased to Comcast Corporation.

Construction began in September on the first speculative building of its type in 15 years – Inova I will be the first completed building at INOVA Dry Creek. The Southeast Suburban submarket’s new 650,000-square-foot mixed-use office, flex and residential campus is located just east of Interstate 25 and East Dry Creek Road in Centennial. NGKF’s Jason Addlesperger, Dave Lee and Mike Wafer, SIOR, represented United Properties and Principal Real Estate Investors in the transaction. JLL’s Todd Roebken, David Welker and Greg Bante, represented Comcast Corporation.

INOVA 1 is expected to be complete in November of this year, and Comcast will take occupancy in the first quarter of 2017. “INOVA I offered the most desirable location, the fastest delivery date, the largest parking ratio available, the largest floorplate offered, and the best cost value for a Class A office building in the Southeast Suburban market,” commented Dave Lee, executive managing director at NGKF. “With so many benefits, INOVA Dry Creek offers many unique selling points that differentiate it from its competition.”

“Achieving a commitment at this stage of development at INOVA I signals we are on the right track with INOVA Dry Creek,” said Kevin Kelley, senior vice president, United Properties. “We are delivering on what the marketplace needs – modern, low-cost, highly efficient floor plates with abundant parking, combined with a convenient location in the Southeast Suburban market.” The first of five planned buildings, INOVA I began as a speculative development and a vision to create an innovative suburban Class A building that offered extraordinary value and amenities.

“INOVA Dry Creek has been unique from the beginning, bringing together visionary teams in the Denver market to create an exclusive, state-of-the-art campus environment offering mixed-use office, flex, residential and hospitality components in a premium environment,” remarked Jason Addlesperger, executive managing director at NGKF, who represents United Properties and Principal Real Estate Investors along with Lee and Wafer. The trio worked with United Properties to master plan the campus and began with a speculative building, confident in INOVA Dry Creek’s appeal to corporate users, high value and distinctive features. The master planned INOVA Dry Creek is the first new speculative project with both multi-tenant office and flex development in Southeast Denver in 15 years.

The team’s third speculative building together, Phase II, a second speculative Class A office building, measuring 235,800 square feet, is commencing immediately, with expected delivery in the third quarter of 2017. Located at the northeast corner of the campus, the four-story, INOVA II, will offer 57,000-square foot floorplates in a unique L-shape floorplan, designed with a roof top deck and underground parking for 42 spaces. The Development plans include three additional buildings on the 58-acre site, including Class A multi-tenant flex space, with a total square footage of 70,632.

INOVA Flex is also breaking ground immediately with a recent commitment from Power Home Remodeling Group, a Philadelphia-based company opening an office in Denver, pre-leasing 23,658 square feet of the planned 70,632-square-foot flex property.

INOVA, a shortened name for innovative, introduces an enhanced, tilt-up office architecture to Denver. One of the fastest-growing building technologies in the United States, tilt-up construction economics include reasonable cost with low maintenance, durability, speed of construction and minimal capital investment.

INOVA Dry Creek is situated near the Dry Creek light rail station, adjacent to Inverness Business Park and Centennial Airport, and is located approximately 20 minutes from downtown Denver. With United Properties and Principal Real Estate Investors seeking LEED® certification on all buildings, plans include facilities for bike commuters (dedicated building entries with showers, lockers, repair areas and bike rentals), a dedicated shuttle to transport employees to and from the Dry Creek light rail station, and onsite food truck pad sites with dining areas.

United Properties purchased the land for Dry Creek Corporate Center in late 2014 in a joint venture with Principal Real Estate Investors. United Properties hired Powers Brown Architecture as the lead architect for the vertical development and Adolfson & Peterson Construction as the general contractor for INOVA I.

About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.

With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.

NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.

About Principal Real Estate Investors

Principal Real Estate Investors manages or sub-advises $59.3 billion in commercial real estate assets^[1]. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group^®.

Powers Brown Architecture

Powers Brown Architecture is a professional services firm with offices in Denver; Houston, and Washington D.C. Led by founding members, Joe Powers, AIA, Jeffrey Brown, AIA, along with Keith Conrad, AIA, the firm has extensive experience at the principal level working with private and public agencies. This experience makes Powers Brown Architecture uniquely qualified to meet its clients’ design and construction needs from the most simple to the most complex.

The firm utilizes an approach to design that is highly analytical and inventive in pursuing the unique synthesis of circumstance, opportunity and function. The firm’s collective purpose is held together by a belief in the process of analysis and research of program and site in their own terms. Powers Brown Architecture holds the belief that this attention to the specificity of every opportunity is a condition perhaps unique to architecture as a discipline.

Power Home Remodeling Sets its Sights on Denver

Commitment to Inova’s Mixed-use Campus will kick start Flex development

Denver, CO (May 23, 2016) – Newmark Grubb Knight Frank (NGKF), United Properties and Principal Real Estate Investors announce Power Home Remodeling, a Pennsylvania-based company, recently recognized as Fortune’s #1 Workplace for Millennials in the country, is opening a Denver location. The company’s pre-leasing commitment of 23,658 square feet will kick start the planned 70,632-square-foot INOVA Flex development at INOVA Dry Creek.

INOVA Flex is part of the master planned INOVA Dry Creek, the southeast submarket’s new 650,000-square-foot mixed-use office, flex and residential campus, located just east of Interstate 25 and East Dry Creek Road in Centennial. NGKF’s Andrew Blaustein represented Power Home Remodeling and NGKF’s Jason Addlesperger, Dave Lee and Mike Wafer represented United Properties and Principal Real Estate Investors in the lease transaction.

“Power polls its employees every year to gauge interest in new markets and Denver was nearly the unanimous choice,” commented Corey Schiller, co-chief executive officer at Power Home Remodeling. “We also keep a watchful eye on where the general population would most like to live. Denver was at the top of both lists, so it’s an easy decision to relocate twenty individuals to help open the Denver market.”

Power Home Remodeling is listed in Inc. 5000’s annual list of fastest growing private companies and is consistently named one of the best places to work. “Our employees are especially energized by innovative and vibrant work environments, and we’re confident we can create the Chester, PA headquarters culture at INOVA,” he added.

“INOVA Flex provided options for Power that were not available anywhere else in this market,” added Andrew Blaustein, managing director at NGKF. “INOVA Dry Creek offers the most desirable location with a large parking ratio, an opportunity to design our own space from core and shell, and a mature tenant base in the immediate vicinity. Combine these features with the strength of the Southeast market, a Class A flex opportunity, and proximity to area amenities and you have a natural win.”

INOVA Dry Creek is situated near the Dry Creek light rail station, adjacent to Inverness Business Park and Centennial Airport, and is located approximately 20 minutes from downtown Denver. With United Properties and Principal Real Estate Investors seeking LEED® certification on all buildings, plans include facilities for bike commuters (dedicated building entries with showers, lockers, repair areas and bike rentals), a dedicated shuttle to transport employees to and from the Dry Creek light rail station, and onsite food truck pad sites with dining areas. Jason Addlesperger, Dave Lee and Mike Wafer, all executive managing directors at NGKF, master planned the campus with United Properties and Principal Real Estate Investors. Murray and Stafford was hired as the general contractor for INOVA Flex.

With a planned June groundbreaking for INOVA Flex, it is expected that Power Home Remodeling will open its Denver location in January 2017. The company currently has 1,650 employees in ten business locations across the United States and expects to grow its Denver employee base to 100 people.

About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.

With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.

NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.

About Principal Real Estate Investors

Principal Real Estate Investors manages or sub-advises $66.0 billion in commercial real estate assets^[1]. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group^®.

Media Contacts

For United Properties:
Sheila Thelemann
952.837.8654