Company plans search for a replacement

MINNEAPOLIS, (June 28, 2018)  – Eva Stevens, president of United Properties Investment (UPI) and chief operating officer, says she will retire as of Dec. 31, 2018, ending a 17-year tenure with the company and a 40-year career as a trailblazer in the commercial real estate industry.

Since beginning her commercial real estate career in 1978, Stevens has been a standout professional, rising through the ranks and succeeding at a time when few women led commercial real estate firms.

Since 2015, Stevens, 63, has co-led United Properties with Bill Katter, president of United Properties Development and chief investment officer. In her role as president and chief operating officer of UPI, Stevens is directly responsible for portfolio and asset management of United Properties’ 7 million sq. ft. of owned assets. She also oversees all aspects of company operations, including accounting, financial analysis, insurance, IT, governance, administration and human resources and is a member of the Investment Committee and the Board of Governors.

“Eva has been an outstanding leader in our organization since day one,” said Bert Colianni, CEO, Marquette Companies, LLC, the Pohlad family company that in turn owns UPI. “We look forward to her continuing leadership and guidance as we move into the second half of an important year for United Properties. And, when the time comes, we will wish her well in her retirement.” The company plans to search for a replacement, he said.

“I have loved working closely with Eva on all aspects of United Properties as co-presidents,” Katter said. “She is one of best and brightest commercial real estate leaders in the country today, and it will be difficult to find someone who can fill her shoes.”

Within United Properties, Stevens has led a number of innovative initiatives designed to drive productivity, increase transaction efficiency and reduce financial risk. A natural teacher, she has been a champion for developing the next generation of leaders for the organization as well as mentoring many outside of UPI.

When Stevens joined the real estate industry and didn’t see many women at industry events, she joined a small women’s networking group – Women in Real Estate – that still meets monthly to this day. She has been an active member of NAIOP, having served for several years on boards and committees at both the local and national levels. The NAIOP Minnesota chapter honored Stevens with the 2014 President’s Award, the association’s highest honor for individuals.

In the Twin Cities community, Stevens has parlayed a personal experience fighting cancer into a mission of helping others. A 29-year breast cancer survivor, she led the charge in the real estate community to help build Gilda’s Club Twin Cities, serving as a member of the Board of Directors and chair of the Clubhouse Committee. Today she continues her board involvement with Gilda’s Club Twin Cities, and recently joined the board of CommonBond Communities.

“I have absolutely loved my job, the company and, most of all, my colleagues at United Properties,” Stevens said. “But it’s time for me to make room for the next generation of leaders ready to embrace rapid change in our industry with curiosity, agility and energy. I look forward to spending more time with my family and nurturing my interests outside of work.” She is looking forward to continuing her nonprofit board work; fishing with her dad; riding her horse, Doogin; and spending time with her husband, Dick, as he builds their new home in Ely, Minnesota.

MINNEAPOLIS, (May 31, 2018)  – Renovation work on the historic Kickernick building in the Warehouse District of downtown Minneapolis kicked into full gear this spring with an extensive lobby renovation plan.

The overall renovation of the 150,000-sq.-ft. building calls for a historic renovation to enhance its existing brick and timber construction and return its historic charm. Building renovation plans include the removal of non-original dropped ceilings and drywall to expose original materials, as well as the addition of a new lobby area, new elevators, and newly renovated bathrooms and common corridors. The new lobby atrium will be filled with open seating and collaboration stations and feature a more prominent entryway off First Avenue. Bike storage and showers will also be added to the first floor.

Renovations will be complete in Q3 2018. To date, the sixth floor renovation has been completed, with 22,108 sq. ft. of office space – the entire floor – available for leasing now.

“This renovation gives us a rare opportunity to imagine new possibilities for a historic building that has been a part of the Minneapolis skyline for a century,” said Gordy Stofer, vice president of office development at United Properties. “Kickernick has its own compelling character, which is impossible to recreate, and our renovation simply enhances that character, adding creative and appealing new office spaces that are unique to Minneapolis.”

Kickernick is located in the downtown Minneapolis Warehouse District at 430 N. First Ave., with convenient access to downtown, Target Field, the Warehouse District and light rail. At 150,000 sq. ft., the building is 75 percent occupied with existing office and retail tenants, and retail/restaurants on the main floor, including Brothers Bar & Grill.

“We’ve had great success with other renovations of historic buildings in Minneapolis, including the Ford Center and Loose-Wiles,” said Stofer. “Similarly, the Kickernick building has a rich architectural history that we look forward to celebrating with this renovation. It is also part of our ongoing commitment to help maintain the relevance of historic buildings in the Warehouse District and North Loop.”

The seven-story Kickernick building was constructed in 1896 and was originally home to the North Star Boot & Shoe Company for use as a factory and warehouse; an addition was built in 1902. The building was later occupied by lingerie company Kickernick, giving it its current name.

In addition to United Properties and Second City Real Estate, the project team includes architect Studio BV, general contractor Mission Construction, Inc. and leasing agent Transwestern.

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.

MINNEAPOLIS, (May 31, 2018)  – Renovation work on the historic Kickernick building in the Warehouse District of downtown Minneapolis kicked into full gear this spring with an extensive lobby renovation plan.

The overall renovation of the 150,000-sq.-ft. building calls for a historic renovation to enhance its existing brick and timber construction and return its historic charm. Building renovation plans include the removal of non-original dropped ceilings and drywall to expose original materials, as well as the addition of a new lobby area, new elevators, and newly renovated bathrooms and common corridors. The new lobby atrium will be filled with open seating and collaboration stations and feature a more prominent entryway off First Avenue. Bike storage and showers will also be added to the first floor.

Renovations will be complete in Q3 2018. To date, the sixth floor renovation has been completed, with 22,108 sq. ft. of office space – the entire floor – available for leasing now.

“This renovation gives us a rare opportunity to imagine new possibilities for a historic building that has been a part of the Minneapolis skyline for a century,” said Gordy Stofer, vice president of office development at United Properties. “Kickernick has its own compelling character, which is impossible to recreate, and our renovation simply enhances that character, adding creative and appealing new office spaces that are unique to Minneapolis.”

Kickernick is located in the downtown Minneapolis Warehouse District at 430 N. First Ave., with convenient access to downtown, Target Field, the Warehouse District and light rail. At 150,000 sq. ft., the building is 75 percent occupied with existing office and retail tenants, and retail/restaurants on the main floor, including Brothers Bar & Grill.

“We’ve had great success with other renovations of historic buildings in Minneapolis, including the Ford Center and Loose-Wiles,” said Stofer. “Similarly, the Kickernick building has a rich architectural history that we look forward to celebrating with this renovation. It is also part of our ongoing commitment to help maintain the relevance of historic buildings in the Warehouse District and North Loop.”

The seven-story Kickernick building was constructed in 1896 and was originally home to the North Star Boot & Shoe Company for use as a factory and warehouse; an addition was built in 1902. The building was later occupied by lingerie company Kickernick, giving it its current name.

In addition to United Properties and Second City Real Estate, the project team includes architect Studio BV, general contractor Mission Construction, Inc. and leasing agent Transwestern.

Retail pad sites round out industrial developments, creating new “next gen mixed-use” projects

DENVER, (May 29, 2018)  – United Properties is finding success with single-tenant build-to-suit projects, making it one of the most active retail developers in the Denver area. Over the past 18 months, United Properties has built a pipeline of 20 acres of retail, primarily through the combination of developing of free-standing retail pad sites along the perimeter of larger industrial developments.

“Based on my background developing retail centers I have always been drawn to sites that offer excellent visibility and access along major commercial arterials. Most industrial tenants also want convenient access to major thoroughfares as well, so it turns out that retail and industrial generally want similar site attributes but at a different scale” said Kevin Kelley, executive vice president of Denver commercial development at United Properties.

This growth area for the commercial real estate development company reflects shifts in both retail and industrial development trends.

“We’re calling this the ‘next gen mixed-use,’ which are sites that blend light industrial, office and retail in one development,” said Alicia Rhymer, vice president of retail development at United Properties. “Workers want more convenience, and retailers want to be where the customers are – we just put the two of them together,” said Rhymer.

United Properties has three current projects at various stages of development that reflect this next generation of mixed-use developments.

Coming Soon: United Properties recently closed on a site at 38^th Avenue and Tower Road in Aurora to develop Tower Business Center; three acres of the site will be used for retail pad sites, complementing 450,000 sq. ft. of industrial space. 7-Eleven and Ronny’s Car Wash have each signed on for one-acre pad sites at this location. An additional pad is still available.

Under Construction: Enterprise Business Center (EBC), located at East 40^th Avenue and Central Park Boulevard in Stapleton, features 3.3 acres of retail in front of this large flex/industrial development. Retail tenants for this site will include a drive-thru Starbucks, Cheba Hut, F45 Training, Fuzzy’s Taco Shop and a New Horizon Academy. The retail component of EBC is slated to be complete in September 2018.

Moving In: In April, 7-Eleven and Swisslog moved into United Properties’ Interpark development, a flex/industrial project that will comprise 240,577 sq. ft. across two buildings once it’s completed in 2018. Located just off US-36 in Broomfield, the project is United Properties’ first development in the northwest corridor. Five acres of additional retail pads are still available. More information at www.interparkbroomfield.com.

At 87^th Parkway and Indiana Street in Arvada, United Properties is currently developing more than six acres of commercial land, consisting of 7-Eleven and Starbucks, to be completed July 2018. Nearly four acres of additional retail pads are still available.

MINNEAPOLIS, (April 9, 2018)  – RBC Wealth Management today announced the latest investment in its U.S business: a new, signature U.S. headquarters building in downtown Minneapolis.

The firm, which employs more than 5,000 people across the country, including 1,500 in the Twin Cities, signed a lease at United Properties’ 33-story, one million sq. ft. mixed-use Gateway development, located on 3^rd Street South, between Nicollet and Hennepin Avenues. The development gives a nod to the historically named Gateway District, the “gateway to Minneapolis,” which is centered at the convergence of Hennepin, Nicollet and Washington Avenues.

“The city of Minneapolis has been our home for many decades and we look forward to continuing to build our legacy here,” said Michael Armstrong, CEO, RBC Wealth Management – U.S. “Our move to our future home — a sustainably built, state-of-the-art building — will be a symbol of our firm’s growth and commitment to the wealth management business in the U.S.”

Under terms of the agreement, RBC will occupy approximately 310,000 sq. ft. of space in Gateway, which also includes residential condos, a five-star hotel, a fitness center and outdoor pool, street-level retail, underground parking and a private outdoor terrace for RBC colleagues. Building plans also include connectivity to the Skyway system.

“We are honored that RBC has selected Gateway as its new corporate home, and we look forward to working closely with them in the months ahead to deliver an iconic headquarters befitting of their stature as a financial industry leader,” said Bill Katter, president and chief investment officer, United Properties.

“Today’s announcement marks a significant development for this landmark project in downtown Minneapolis, and we are moving forward with confidence on the next steps of the planning process,” Katter said.

Next steps in the planning process include completing the project design and receiving full project approval during the summer of 2018. Katter said he expects construction to begin spring 2019.

The 1,500 Minneapolis RBC Wealth Management-U.S. and RBC Capital Markets employees currently located at RBC Plaza will remain there until the new headquarters location is ready in 2021.

About RBC Wealth Management-U.S.
In the United States, RBC Wealth Management operates as a division of RBC Capital Markets, LLC. Founded in 1909, RBC Capital Markets, LLC is a member of the New York Stock Exchange, the Financial Industry Regulatory Authority, the Securities Investor Protection Corporation, and other major securities exchanges. RBC Wealth Management has $348 billion in total client assets with approximately 1,800 financial advisors operating in 200 locations in 40 states.

Mixed-use development to feature Minneapolis Fillmore Theater and Element by Westin hotel

MINNEAPOLIS, (April 4, 2018)  – United Properties has started construction on Target Field Station, its fifth project in Minneapolis’ North Loop neighborhood. The 150,000-sq.-ft. building will feature a Fillmore Theater and Element by Westin hotel. The project is expected to be completed fall 2019.

United Properties’ mixed-use development will cap the company’s commercial real estate development activities in the Target Field Station area, which includes the Ford Center, Be the Match headquarters and Caribou Coffee. The .74-acre site is adjacent to Target Field and a central light rail station.

An official groundbreaking ceremony is being scheduled for May 2018.

“We’re pleased to begin construction on Target Field Station, a new development that will bring an iconic music venue and hotel to the Twin Cities,” said Rick McKelvey, vice president of development, United Properties. “We envision Target Field Station as the destination for people coming to the theater, coming to see a baseball game, or simply looking for a convenient place to stay while visiting our city for family or business purposes.”

United Properties is working with Live Nation’s House of Blues Entertainment division to bring a Fillmore Theater to its mixed-use development at Target Field Station. The Minneapolis Fillmore Theater will occupy 36,000-sq.-ft. and feature an intimate, 2,000-guest-capacity venue for music performances.

United Properties is also working with Lion Hotel Group to develop a 156 room Element by Westin hotel above the Fillmore Theater. Element hotels serve both transient and extended stay guests. The hotel incorporates sustainable design features and eco-friendly practices. Spacious guestrooms have fully-equipped kitchens, spa-inspired bathrooms and the Signature Heavenly^® Bed. The hotel’s public spaces include a large fitness center, meeting room, and rooftop patio with a fire pit and exciting views of downtown.

The Minneapolis Fillmore will join seven other Fillmore theaters in the U.S. The interior will reflect the iconic Fillmore Theater in San Francisco, a legendary venue that opened in 1954 and holds a special place in rock history. The space will feature the Fillmore’s trademark ambiance, including a prominently featured chandelier in the center of the hall. The Minneapolis Fillmore is expected to host approximately 150 shows per year with an annual attendance between 150,000-200,000.

Project partners include Tushie Montgomery Architects and Weis Builders. Kim Meyer and Deb Carlson of Cushman & Wakefield represented Live Nation in the lease negotiations.

MINNEAPOLIS, (March 15, 2018)  – United Properties announced today that Brenda Arnold, assistant vice president, asset management, has been promoted to vice president, manager financial analysis, effective March 1, 2018.

A 34-year veteran of the firm, Arnold leads the United Properties analyst team in supporting both the stable and value-add/development portfolios. She plays a key role in all of the company’s property valuation, operating property AOP and strategic planning processes, and property level cash flow analysis.

“Brenda is one of the strongest real estate investment analysts in our marketplace,” said Eva Stevens, president and chief operating officer, United Properties. “Her industry knowledge and analytical skills are the backbone of our ability to make strategic decisions on the structure of our portfolio efficiently and with confidence.”

Arnold joined United Properties in 1984 as an accountant. Prior to her position as a senior investment analyst at United Properties, Arnold was a corporate account manager, working in real estate accounting involving office, retail, industrial and multi-family projects.

Arnold holds a bachelor’s degree in accounting/finance from Minnesota State University, Mankato.

VERO BEACH, Fla, (January 30, 2018)  – Watercrest Senior Living Group, based in Vero Beach, FL, and United Properties, with offices in Minneapolis and Denver, announce the groundbreaking of Watercrest Naples Assisted Living and Memory Care in Naples, Florida. Walker and Company will begin construction of the 128-unit, luxury senior living community this month, with scheduled completion in late Spring 2019.

Ideally located on Bellaire Bay Drive, Watercrest Naples will be a signature Watercrest product, offering 96 assisted living and 32 memory care apartments with resort-style service and world-class care. The architecture and design will boast a stunning promenade, fireplace, signature water wall, multiple dining options, pool, salon and spa, grand balconies, and Florida-style outdoor living spaces in a peaceful setting. Watercrest’s uniquely designed Market Street Plaza will showcase an ‘outdoor’ streetscape with numerous LifeBUILT programming touches; a highlight and crucial element of their multi-sensory memory care programming.  The building design is a collaboration of Watercrest Senior Living Group with D2 Architecture out of Dallas, and IDA out of Nashville.

“The senior living industry thrives upon the unique and successful collaboration of like-minded partners striving for excellence in quality, care and innovation,” says Marc Vorkapich, Principal and CEO of Watercrest Senior Living Group. “We celebrate this partnership with United Properties in providing the seniors and families in Naples with an exceptional and unprecedented senior living experience.”

With multiple senior living communities in development across the southeast, Watercrest principals, Marc Vorkapich, CEO, and Joan Williams, CFO, are setting new standards of quality for seniors and their families in the development of upscale senior living communities. This project marks United Properties entrance into the Florida senior housing market as the investor and co-developer with Watercrest Senior Living, the operator of the Watercrest Naples community.

Founded in 1916 and based in Minneapolis, United Properties has developed nearly 200 projects totaling more than 20 million square feet and nearly $1 billion over the last 30 years. Since 2004, United Properties has developed 15 senior housing communities in the Minneapolis/St. Paul and Denver markets, with seven more under development.

“United Properties is pleased to have the opportunity to serve seniors with our first community in Florida,” said Mike Dailey, senior vice president of development for United Properties. “We are proud to be partnering with Watercrest, an organization that shares our values and a commitment to excellence. We look forward to completing this signature project that will be home to many.”

United Properties has been creating deep roots in the commercial real estate industry for more than 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 information, visit http://www.uproperties.com or follow on Twitter at @UPDeepRoots.

Watercrest Senior Living Group specializes in the development and operations of assisted living and memory care communities, market repositioning and advisory services. Partnering with a wide variety of stakeholders such as land owners, real estate developers, investors, financial institutions, and REITs, Watercrest Senior Living Group focuses on its core strengths, operations management of assisted living and memory care communities and the development of servant leaders. For information, visit www.watercrestslg.com

Contact: Kathryn Vorkapich
Phone: 772-539-4553
Email: kathryn@chandonnicholas.com

United Properties tops Minneapolis St. Paul Business Journal’s Top Real Estate Developer list

We are proud to be ranked No. 1 in the 2017 Top Real Estate Developer list published this week by Minneapolis St. Paul Business Journal. This year marked the fourth year in a row that United Properties has topped the list. Co-presidents Bill Katter and Eva Stevens were both humble and proud when asked for their thoughts around our ongoing list status.

“We are honored to hold the position of Top Developer for the fourth consecutive year and attribute our success to our most important company asset, our people,” said Bill Katter, president and chief investment officer.

“We are immensely proud of our success in serving the Twin Cities market development needs. We operate in an exceedingly competitive space but our innovative, collaborative approach to creating deep roots with our clients and partners truly differentiates us,” said Eva Stevens, president and chief operating officer.

MINNEAPOLIS (January 4, 2018) – United Properties announced today that Richard Student, senior vice president of investments, has been promoted to executive vice president, asset management/finance, effective Jan. 1, 2018.

Student, a 23-year veteran of the firm, leads day-to-day business management for company assets and financing activities. Within asset management, he provides supervision and direction to property managers and leasing agents and is responsible for lease underwriting, lease negotiation and lease execution, as well as the management of property capital investment.

“Richard has been both instrumental and innovative in leading the financing activities for our portfolio and development projects,” said Eva Stevens, president and chief operating officer, United Properties. “We are pleased to recognize his successes and look forward to continued contributions.”

Student joined United Properties in 1995 as assistant vice president. Prior to United Properties, he held financing positions at Allstate Life Insurance Company, The Balcor Company and The Griffin Companies. Student holds a bachelor’s degree in business administration from Washington University and a master’s degree in business administration from the University of Wisconsin. He is a certified public accountant and serves on the board of directors for the Minnesota chapter of NAIOP.

DENVER (January 3, 2018) – United Properties announced today that Kevin Kelley, senior vice president of office and industrial development, has been promoted to executive vice president of Denver commercial development, effective Jan. 1, 2018. Kelley, a 13-year veteran of the firm, will now oversee all commercial development in Denver including office, industrial and retail.

“Kevin has demonstrated a high level of performance and commitment and has proven that he is a market leader,” said Bill Katter, president and chief investment officer, United Properties. “With Kevin at the helm guiding our commercial development activities in Denver, we expect our team will continue to demonstrate innovation, collaboration and success as a market leader.”

Kelley joined United Properties in 2005 as Vice President. Prior to joining United Properties, he was involved in the acquisition and development of retail centers with Miller Weingarten Realty in Colorado, and with Faison Associates in Charlotte, North Carolina.

Kelley serves on the NAIOP Colorado Chapter Board and held the position of NAIOP Colorado Chapter President in 2016. He also is an active member of the Urban Land Institute (ULI) Colorado and the University of Colorado Real Estate Council. Kelley holds a bachelor’s degree in history and an MBA in real estate from the University of Wisconsin – Madison.