MINNEAPOLIS, MN (August 4, 2025) — United Properties is pleased to announce the promotion of Connor McCarthy to Senior Vice President, Commercial Development. In this expanded role, Connor will oversee commercial development activity across both the Minnesota and Colorado markets, with a particular focus on the company’s growing industrial platform.

Since joining United Properties in 2015, Connor has played a pivotal role in shaping the company’s industrial development strategy. After starting as an Investment Analyst, Connor transitioned into a development role in 2018. Since then, he has led the development of approximately 2.5 million square feet of industrial space throughout the Twin Cities.

“Connor’s leadership, strategic insight, and deep market knowledge have been instrumental in our success in the Minnesota market,” said Matt Van Slooten, CEO of United Properties. “This promotion recognizes Connor’s significant contributions to our operations and our confidence in his ability to take on broader responsibilities and accomplish outstanding results in the Colorado market as well.”

Beyond his professional accomplishments, Connor is a committed leader in the commercial real estate community. He has served on the board of NAIOP Minnesota and chaired the Developing Leaders program in 2020. In 2021, he was honored as the Minnesota Real Estate Journal’s Emerging Leader of the Year.

Connor holds a Bachelor of Science degree in Real Estate from the University of St. Thomas.

Please join us in congratulating Connor on this well-deserved promotion.

DENVER, CO (July 7, 2025) — Newmark, in collaboration with United Properties, announces the Company has arranged the $25.5 million sale of Enterprise Business Center Building 7 (“EBC 7”), a premier 157,942-square-foot industrial property located at 9420 E. 40th Avenue in Denver. The buyer is Dream US Industrial Fund, an entity of Dream REIT.

Executive Managing Director Mike Wafer and Executive Vice Chairman Tim Richey, Managing Directors Michael Wafer Jr. and Mike Viehmann, Associate Director Jack Richey and Analyst Sean Fitzgerald represented the seller, United Properties, which started development on Enterprise Business Center in 2015 and constructed Building 7 in 2017. EBC 7 has since served as a cornerstone and the “front door” of the award-winning development, strategically located near the intersection of I-70 and Central Park Boulevard in Denver’s East submarket. Known for its exceptional access, proximity to major highways and robust labor pool, the EBC campus is home to major tenants including FedEx, Coca-Cola, Breakthru Beverage, Tire Rack and Aramark.

“Enterprise Business Center has stood as a testament to thoughtful development and enduring value over the past decade,” said Chris Wold, Vice President of Asset Management for United Properties. “The sale of EBC 7 is a strategic transaction as we look to continue development in the Denver market, including 817,000 sq ft under construction at Aero 70.”

“EBC 7 checks every box for today’s industrial investor, as a Class A building in a core infill location, with the upside of below market rents and a short-term WALT,” added Wafer. “Interest in the property was extremely strong which is a testament to both the quality of the asset and the overall development by United Properties.”

The property features Class A industrial amenities including 24-foot-clear ceilings, ESFR sprinklers, high-end office/showroom buildouts and a large truck court, among other amenities.

According to Newmark Research, the Denver’s east region is the largest and most institutionally-owned industrial submarket, accounting for roughly 42% of the market’s inventory and 62% of its absorption.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

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AURORA, COLORADO (Oct. 16, 2024) — United Properties is pleased to announce the acquisition of 129.26 acres of prime industrial land in Aurora, Colorado. The site will be developed as the Aero 70 industrial complex, located adjacent to the future interchange of Aerotropolis Parkway, a new major arterial roadway, and Interstate 70. United Properties closed on the property on Oct. 16.

“United Properties immediately recognized the potential of the Aero 70 industrial park property,” says Jim Bolt, vice chairman, CBRE. “Adjacent to the highly successful Park 70 development, the future development on the Aero 70 site will offer state-of-the-art industrial buildings available for lease and purchase, as well as land sites for sale, all with excellent visibility, toll-free access and unique highway access through the new Aerotropolis Boulevard interchange off I-70.”

The development of Aero 70 will occur in two phases:

Phase I: Industrial development

The first phase will deliver two 400,000-sq.-ft. cross-dock industrial buildings, divisible from 100,000 sq. ft. and up. These buildings will feature abundant trailer parking, exceptional highway visibility and direct access to the new interchange.

“We expect Phase I to deliver in late 2025, which aligns with market demand,” says Todd Witty, senior vice president, CBRE. “This timing coincides with the projected need for additional new industrial supply in the Denver area. We’ve seen increased demand from large occupiers in 2024, positioning the market for growth in 2025.”

Phase II: Future development

Phase II will develop an additional 65.73 acres, conceptually designed to accommodate up to 1.1 million sq. ft. of cross-dock space, with flexibility for future expansion depending on market conditions.

Strategic location and vision

“We are excited to expand our footprint in the dynamic Denver market,” says Mindy Rietz, vice president, commercial development, United Properties. “With its prime location near key transportation hubs, Aero 70 offers an unparalleled opportunity for businesses seeking easy access to the airport and the broader Denver region.”

The site is also within a designated Opportunity Zone and Enterprise Zone, which offers significant economic incentives for future tenants and potential tax savings for owners.

Phil Cattanach, executive vice president, commercial development, United Properties, adds, “The Aero 70 development results from a multi-year collaboration involving numerous stakeholders. The project will significantly enhance transportation infrastructure in the area, creating a critical throughway to Denver International Airport and becoming a prominent fixture along I-70. Aero 70 continues United Properties’ long history of industrial development in the Denver metropolitan area, totaling over 3.5 million sq. ft. to date. We have had tremendous success with industrial development in Denver, and we have additional industrial development sites in our pipeline.”

Sustainability features

In line with United Properties’ commitment to sustainability, the Aero 70 project will include pre-installed conduits for electric vehicle (EV) charging stations, low-water landscaping, increased structural roof loads for future solar installation and clerestory windows to maximize natural light.
The development will utilize ENERGY STAR Portfolio Manager and Conservice ESG software to monitor energy, water and waste consumption, ensuring ongoing sustainability performance.

Key project partners

• General contractor: Brinkmann Constructors is responsible for site work, infrastructure and core/shell delivery.
• Leasing: Todd Witty (todd.witty@cbre.com), Daniel Close (daniel.close@cbre.com) and Jim Bolt (james.bolt@cbre.com) with CBRE are actively marketing both phases for pre-leasing opportunities.

For more information on the Aero 70 development, contact United Properties or CBRE.

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DENVER (Feb. 12, 2024) — United Properties announced today the sale of Trade@2534, a Class A industrial development located at 4201 Ronald Reagan Blvd. in Johnstown, Colorado, to California-based Nearon Enterprises, LLC. The terms of the deal were not disclosed.

The development is strategically located near the intersection of Interstate 25 and U.S. Highway 34, and offers modern, functional space for companies to grow and thrive in a business-friendly community. Trade@2534 was completed in 2022 and fully leased within eight months of delivery to a diverse tenant roster, including PODS, Kroger, Radial Engineering, SCP Distributors and Stevens Equipment Supply.

“Trade@2534 addressed a need for Class A industrial space in the Northern Colorado region and was well received by tenants,” says Mindy Rietz, vice president, commercial development, United Properties. “We believe the recent sale to Nearon Enterprises is a testament to the continued maturation of the region.”

The sale includes two Class A buildings — Building 1 is a 72,896-sq.-ft. single-load building and Building 2 is a 145,008-sq.-ft. cross-dock facility. The Class A development provides 24 feet and 28 feet clear heights, and features energy-efficient, modern designs, TPO 60-mil “Cool Roofs,” ESFR sprinkler systems and modern truck courts with significant car parking.

Jeremy Ballenger, Tyler Carner, Jim Bolt and Jessica Ostermick with CBRE represented United Properties in the sale of Trade@2534.

“Class A assets like Trade@2534 in the I-25 North submarket are extremely rare and are the most coveted among users,” adds Ballenger, executive vice president of capital markets and industrial properties, CBRE. “Both of these buildings offer additional divisibility, plus the park has a leased industrial outdoor storage (IOS) site that also provides future upside as either a development site or IOS.”

Trade@2534 is part of a joint venture partnership between United Properties and PCCP, LLC, a Los Angeles-based real estate investment management firm.

About PCCP, LLC
PCCP, LLC is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has $23.1 billion in assets under management on behalf of institutional investors. With offices in New York, San Francisco, Atlanta, and Los Angeles, PCCP has a 25-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has managed, raised or invested over $39.7 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with experienced operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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