MINNEAPOLIS (Dec. 17, 2015) – United Properties announces that it has acquired a 300,000-sq.-ft. bulk industrial building at 1080 Park Place in Shakopee, Minnesota. The building is currently occupied by Silgan Containers. The commercial real estate investor and developer cites the location in the competitive Shakopee submarket and the building’s value-add opportunities as the primary reason for acquiring the building. The closing occurred on Dec. 11.

“1080 Park Place was intriguing given its location in the heart of Shakopee, a quality tenant, 38-foot clear height and value-add opportunities such as expanding the truck court and completing cosmetic upgrades,” said Brandon Champeau, vice president. “This acquisition demonstrates our commitment to grow our industrial portfolio with buildings that are positioned to capitalize on the evolving requirements of today’s tenants.”

United Properties plans to complete site improvements and cosmetic upgrades in spring 2016.  Kris Smeltzer of Cushman & Wakefield/NorthMarq represented United Properties in the transaction. Cushman & Wakefield/NorthMarq will manage and lease the property on behalf of United Properties.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

Mixed-use development will be complete in fall 2016 and will include retail and residential

MINNEAPOLIS (Nov. 12, 2015) – United Properties is breaking ground this week on Kenwood Village, its mixed-use development in Duluth. Located at the southwest corner of Kenwood Avenue and Arrowhead Road, the site will include approximately 14,000 sq. ft. of retail space and 83 market-rate apartments ranging in size from studio to three-bedrooms. Construction is scheduled to be complete in fall 2016.

The four-story development will include a mix of retail tenants and apartments on the first floor, and another three stories of apartments above. The retail and housing will be served by a parking deck with covered parking below.

United Properties first provided details of the development after it purchased property from Duluth Teachers Credit Union, as well as four adjacent residential parcels. Since then, United Properties finalized the design and development plan, and worked through the entitlement process with the City of Duluth

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

MINNEAPOLIS (Nov. 9, 2015) – United Properties announced today it has hired Dave Young as development project manager. Young will assist in executing senior housing projects for the company for its Applewood Pointe senior cooperatives, and Cherrywood Pointe senior communities offering independent living, assisted living and memory care. He will oversee the development process, including design, financing, construction and close-out.

“We’re pleased to have Dave join our team as we continue to grow our senior housing,” said Alex Hall, senior vice president. “His background in residential construction will be a tremendous asset as we develop more Applewood Pointe and Cherrywood Pointe communities.”

Young has more than 15 years of experience in the construction field. Prior to joining United Properties, he was construction manager for Fieldstone Family Homes and vice president of construction at M.W. Johnson Construction.

Young received his bachelor’s degree from the University of Minnesota and currently holds a Minnesota Building Contractors License.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

DENVER (Oct. 20, 2015) – United Properties, a Denver developer and investor, has hired Matt Oermann as a project manager in its development division. Oermann will oversee development projects and processes associated with the vertical construction of properties, and manage land development for the commercial real estate firm. One of his first projects will be managing the construction of the first office building at INOVA Dry Creek.

Oermann will work with Kevin Kelley and Mike Dailey, senior vice presidents of United Properties, to support their efforts to expand the company’s development activity in Denver. “With the number of projects in our development pipeline and our expansion into senior housing, it was clear we needed to hire someone as qualified as Matt,” said Kelley. “We are excited to have him on our growing team.”

Prior to joining United Properties, Oermann was a senior project manager at a local project management and owner’s representation firm. In addition, he was a project manager and held a number of positions at one of the largest construction management companies in the United States. Oermann received his master’s degree in business administration from the Kellogg School of Management at Northwestern University and his bachelor’s degree in civil engineering from the University of Michigan. He is a LEED accredited professional.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

Arrowhead Electrical Products signs lease for 30,000 sq. ft. in new building

MINNEAPOLIS (Sept. 22, 2015) – United Properties recently broke ground on a second building at Blaine Preserve Business Park and signed a lease with Arrowhead Electrical Products, Inc.; the company will lease 30,000 of the 100,000 sq. ft. in the new office/warehouse building. The global distributor of rotating electrical parts already occupies 75,000 sq. ft. of the first building at Blaine Preserve Business Park, located at Hamline Avenue and 95th Avenue Northeast in Blaine.

The Blaine City Council approved development plans for the second building this summer; construction will be substantially completed by March 2016. The second building will be located directly north of the first building.

“This is a good location for Arrowhead, with close proximity to the interstate and a solid labor pool,” said Jason Flagstad, vice president-Operations, Arrowhead Electrical Products. The company expects to use the new space at least through 2022.

The first building at Blaine Preserve is also a 100,000 sq. ft. office/warehouse, constructed in 2007. United Properties plans to develop a third, 200,000-sq.-ft. office/warehouse building at the business park, pending the entitlement process with the City of Blaine this winter.

“We’re excited to be able to accommodate the growth of this long-time tenant,” said Brandon Champeau, vice president, United Properties. “We appreciate Arrowhead’s continued commitment to this site, and are proud to bring additional employment to the City of Blaine.”

Cushman & Wakefield | NorthMarq’s Brent Masica is the broker at the property. The property team includes Lampert Architects, Civil Engineering Site Design, and general contractor R.J. Ryan.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

Building will house its specialty construction and industrial division

MINNEAPOLIS (Sept. 9, 2015) – United Properties announces that it has signed a lease with HD Supply for its 31,000-sq.-ft. industrial building in Mendota Heights. One of the largest industrial distributors in North America, HD Supply will move into the single-story office warehouse building in late 2015. Located at 1400 Commerce Drive near highways 494 and 55, the building is within Mendota Heights Business Park, developed by United Properties.

HD Supply will operate its specialty construction and industrial division from the building, expanding its reach in the Minneapolis metro area from the current Plymouth location. The company provides a range of products and value-add services in maintenance, repair and operations, infrastructure and power and specialty construction sectors.

The transaction team included landlord representative Tony DelDotto of Cushman & Wakefield | NorthMarq, and HD Supply representatives Matthew Dornak of Stream Realty and Eddie Rymer of Carlson Commercial. “We were pleased to have a building with the perfect combination for HD Supply’s needs: the precise size and their ideal location,” said John Saunders, senior vice president, United Properties.

United Properties developed the single story building in 1991; it was previously occupied by Lennox PartsPlus. The industrial property is part of Mendota Heights Business Park, a mixed-used commercial, office and industrial development that includes the multi-phased Mendota Place, Mendota Heights Business Center, Brown College’s Le Cordon Bleu Culinary School and Courtyard by Marriott Hotel.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

DENVER (Sept. 8, 2015) – United Properties, a Denver developer and investor, has named Mike Dailey as senior vice president of development. Dailey will focus on senior housing and retail development on behalf of the commercial real estate firm. He will work alongside Kevin Kelley, senior vice president of United Properties, to expand the company’s development activity in Denver, as well as potential surrounding markets.

“Mike is an outstanding hire for us and will help our company grow in the Denver area, a key initiative for us,” said Bill Katter, president-development and chief investment officer, United Properties. “He has a wealth of knowledge and experience and we look forward to Mike’s contributions.”

Prior to joining United Properties, Dailey was president of MVG Development. In addition, he worked for Opus Northwest as director of real estate development and in the real estate departments at Level 3 Communications and Safeway. Dailey received his law degree from the University of Denver College of Law and his bachelor’s degree in business administration from Menlo College in Atherton, California.

Dailey is licensed as a Colorado real estate broker and attorney, and is a member of the Colorado Bar Association. He is currently on the board of directors for Colorado Headwaters Land Trust and a previous commissioner for the Town of Superior Planning and Zoning. Dailey is a member of the International Council of Shopping Centers (ICSC) and Dailey is a member of the International Council of Shopping Centers (ICSC) and NAIOP, the Commercial Real Estate Development Association.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

DENVER (Aug. 10, 2015) – United Properties, a developer and investor with offices in Denver and Minneapolis, announces it has signed a lease with Beverage Distributors Company, LLC, Inc. for 500,000 sq. ft. and closed on the purchase of 45 acres of additional land from Forest City Stapleton at Enterprise Business Center (EBC) in Stapleton. Located at Interstate 70 and Havana Street in Denver, the class A industrial development will now include eight buildings with more than two million square feet on approximately 100 acres.

With Beverage Distributors preleasing more than 70 percent of one of the three buildings in this next phase, the land purchase and lease have now kicked off the development of an additional 850,000 sq. ft. of commercial space at EBC. “This is one of the largest industrial leases ever signed in Denver, and in our portfolio of properties,” said Kevin Kelley, vice president, United Properties.

Construction will commence on two of the buildings in September with the third built upon market demand.

• A 646,000-sq.-ft. bulk distribution building with 32-foot ceiling heights principally occupied by Beverage Distributors to be complete in the first quarter of 2017.
• A 157,000-sq.-ft. flex building planned with 24-foot ceiling height and a higher degree of office finish to be complete by the end of second quarter of 2016.

“We are thrilled to be in the position to consolidate our operations into this new facility,” said Beverage Distributors President and CEO Joseph Marotta. “This is the culmination of the hard work of all of our associates over the past 40 years here in Colorado. This new facility will serve our business, our supplier partners and our customers for the next 20 years and beyond.”

Beverage Distributors Company, a subsidiary of Charmer Sunbelt, is consolidating its operations from three buildings currently located in Aurora to one state-of-the-art facility in EBC in Denver. Beverage Distributors is the largest distributor of beer, wine and spirits in the state of Colorado and currently employs more than 600 people. Phase one of Beverage Distributors’ new facility will be 70,000 sq. ft. of office space and 434,000 sq. ft. of warehouse space located along I-70 and Central Park Blvd. Phase two includes a 142,000-sq.-ft. expansion of the warehouse as needed over the next five years.

In addition to United Properties, the project team includes brokers Mike Wafer and Tim D’Angelo of Newmark Grubb Knight Frank; architect Powers Brown Architecture; and general contractor Murray & Stafford, Inc.  Mike Wafer represented Beverage Distributors in the transaction.

Each of United Properties’ land parcels at EBC has been purchased from Forest City Stapleton, Inc., the master redeveloper for Stapleton. United Properties began construction in August 2013 and the completed buildings total almost 1.2 million sq. ft. With signed and pending leases in those buildings, the development is more than 90 percent leased.

About Beverage Distributors Company, LLC
Beverage Distributors Company has served the Colorado beverage market for more than twenty years. Through the combined strength of our selling divisions — Apex Distributing Company, Pinnacle Distributing Company and Summit Distributing Company — BDC has shown consistent growth and earnings, and holds the largest share of the Colorado spirits and wine market. Beverage Distributors is a member of The Charmer Sunbelt Group (CSG), one of the nation’s leading distributors of fine wines, spirits, beer. and other beverages. A group of privately held companies, CSG operates local distributor and/or brokerage houses in 15 markets. CSG is a family-owned business that proudly serves as the critical link between wine and spirit suppliers, and the retail outlets where alcoholic beverage brands are legally and responsibly sold and enjoyed. The vision of Beverage Distributors is to be the distributor of choice for our suppliers, customers, associates, industry, and community.

About Stapleton/Forest City
Stapleton is Denver’s premier sustainable community and one of the largest urban infill projects in the United States.  Stapleton integrates a diversity of housing types and prices with a network of parks, schools, and supporting retail and office to create a true live/work environment. Stapleton is served by the Central Park interchange on I-70, which is located adjacent to transit-oriented development Forest City plans to commence at the new Central Park Commuter Rail Station that will link Stapleton to DIA on the northeast and Downtown Denver to the west.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com

Introducing smart, tilt-up construction to Denver market speculative development

DENVER (July 22, 2015) – Newmark Grubb Knight Frank (NGKF), United Properties and Principal Real Estate Investors announce INOVA Dry Creek, the Southeast Suburban (SES) submarket’s new 695,000-square-foot mixed-use office and residential campus, a revitalization of Dry Creek Corporate Center. A 212,000-square-foot, five-story, suburban Class A speculative office building, scheduled to break ground in September of this year, will kick off the five-building planned business park at 7250 South Havana Street. The office building at INOVA Dry Creek will have 14-foot 6-inch ceiling heights, 9-foot window heights, flexible floor plates and seek LEED Silver certification.

INOVA Dry Creek will offer nearly 695,000 square feet of office, industrial and multihousing uses. Current plans accommodate five additional buildings, with at least three offering multi-story office and one industrial/flex. The project caters to single- and multi-tenant occupancy, with floor plates to provide campus users from 30,000 to over 200,000 square feet.

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.

“We have been planning this project since the initial land closing in October 2014 and feel this is time to introduce INOVA Dry Creek to the market,” said Kevin Kelley, vice president and regional manager of United Properties, the owner and developer of the project. “Our project team’s successes at Enterprise Business Center in Stapleton demonstrate our ability to uncover market-changing opportunities.”

Global financial investment firm Principal Real Estate Investors is working with United Properties as a significant equity partner on the project, along with Powers Brown Architecture, which is driving the design and construction process. Jason Addlesperger, Dave Lee and Mike Wafer of NGKF are leasing and marketing the project.

“The economic advantages at INOVA Dry Creek include a very competitive mill levy compared to other SES locations,” said Addlesperger, NGKF executive managing director. “United Properties is building new value by creating a suburban Class A spec office product that will provide starting lease rates under $20.00 per square foot, triple net lease and the highest SES parking ratio, at 5:1,000.“

Planned amenities include a campus with dedicated areas for biking, lockers, showers, a bike repair area and rentals, and immediate access to transit-oriented development and the Light Rail station at Dry Creek and I-25. Premium finishes, expanded parking, on-site restaurant space and a food truck are also planned to appeal to tenants. The property is adjacent to Topgolf and minutes away from Centennial Airport.

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 . 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
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Deb Bergman
303.260.4307
dbergman@ngkf.com

Lease signed for 8,000 sq. ft. above new Walgreens store

MINNEAPOLIS (July 20, 2015) – United Properties, along with its joint venture partner Capital Real Estate, Inc., announces a lease with North Memorial Health Care for a clinic on the second floor of 655 Nicollet Mall in downtown Minneapolis. Previously occupied by Saks, the skyway-level space will become the sixteenth North Memorial Health Care primary care clinic location in the metro. The clinic will offer primary care (including walk-in appointments), advanced imaging, mammography, podiatry, occupational medicine and lab services. The first floor of the 50,000-sq.-ft. space owned by the joint venture is leased to Walgreens for its first upscale store format in Minnesota.

The lease for the North Memorial space on the skyway level was signed in April; the clinic will open in November 2015. The 8,000-sq.-ft. clinic will have direct access to Gaviidae Common and the IDS Center. In addition to United Properties and Capital Real Estate, Inc., the project team includes general contractor BTS Construction, architect HGA, D.J. Kranz Co. and S2 Enterprises.

“We are thrilled to expand access to North Memorial Health Care’s primary care services into downtown Minneapolis,” said Kelly Macken-Marble, North Memorial Health Care president of population health and ambulatory services. “With this new location we are bringing the North Memorial care that this community has come to trust and value close to where they live and work.”

In December 2014, United Properties, in a joint venture with Capital Real Estate, Inc., acquired the first two floors of 655 Nicollet Mall. Construction on the Walgreens space began in February 2015 and will be complete in September 2015.

About North Memorial Health Care
North Memorial Health Care is an integrated health care system that offers state-wide care coverage with concentration in the central and northwest metro area of the Twin Cities. Through two hospitals, North Memorial Medical Center and Maple Grove Hospital; a full range of primary and specialty clinics; Urgency Centers; outpatient centers; medical transportation; and home and community outreach, North Memorial is a regional leader in advanced medical care. North Memorial has been an integral part of the community for nearly 60 years, providing patients and their families with compassionate, quality care while creating the safest environments possible.

Media Contacts
Jessie Timmerman
952.837.8516
jessie.timmerman@uproperties.com

Martha Nevanen
952.893.7539
mnevanen@northmarqcompanies.com