Third building at business park to be completed by end of year
MINNEAPOLIS (June 20, 2017)– United Properties has broken ground on a new 250,000-sq.-ft. building at Blaine Preserve Business Park, and signed a new lease with existing tenant Arrowhead Electrical Products, Inc. to occupy it. Located at Hamline Avenue and 95th Avenue Northeast in Blaine, the new building will be the third industrial facility onsite.
The move will allow Arrowhead Electrical, a growing global distributor of rotating electrical parts, to consolidate its space from two other buildings on the Blaine Preserve campus while doubling its space into the single new facility.
“We are very pleased to have partnered with Arrowhead Electrical since 2008, helping them to navigate the complexities of balancing their real estate needs with their aggressive business expansion,” said Brandon Champeau, vice president of development at United Properties.
Arrowhead Electrical will take occupancy as soon as construction is complete; the company currently occupies 75,000 sq. ft. in phase 1 and 50,000 sq. ft. in phase 2. The project is expected to be completed by the end of 2017.
“The new larger building will house the Arrowhead corporate offices and will help support our continued growth serving as one of our hub locations for several years to come,” said Jason Flagstad, vice president of operations at Arrowhead Electrical. “The Blaine Preserve area provides us easy access to the interstate as well as a solid population of people to fulfill our employment needs as we grow.”
Once construction is complete, Blaine Preserve Business Park will consist of three industrial buildings totaling 450,000 sq. ft. The first two phases were 100,000 sq. ft. each. The business park is located at Hamline Avenue and 95th Avenue Northeast in Blaine, and provides quick access to I-35W.
In addition to United Properties, the project team includes Lampert Architects, ESG Architects and RJ Ryan Construction.
About United Properties
United Properties has been creating deep roots in the commercial real estate industry for 100 years. The company imagines new possibilities in real estate to help strengthen communities and create lasting legacies. United Properties provides market expertise for ground-up development, redevelopment and acquisitions of value-add and stable investments. The company invests in and develops office, industrial, retail, mixed-use and senior housing properties. United Properties is owned by the Pohlad Companies and is headquartered in Minneapolis, with an office in Denver. For more information, visit www.uproperties.com or follow on Twitter at @UPDeepRoots.