MINNEAPOLIS (March 27, 2013) – United Properties announces that Blue Plate Restaurant Company has signed a lease at its Loose-Wiles building at 701 Washington Ave. N. in Minneapolis’ North Loop neighborhood. The 9,000-sq.-ft. restaurant will be called Loose-Wiles Freehouse and open September 2013.

This location for Blue Plate Restaurant Company – its eighth restaurant in the Twin Cities – will occupy the first-floor annex of the former biscuit bakery. Loose-Wiles Freehouse will serve breakfast, lunch and dinner and feature an on-site brewery. With its first floor location, the restaurant will incorporate the brewhouse into the design and also feature outdoor dining.

“This location has a hip, urban appeal with a perfect mix of downtown professionals and artists alike,” said Stephanie Shimp, partner, Blue Plate Restaurant Company. “The North Loop is becoming ‘restaurant-row’ for foodies.”

Jim Montez and Sonja Dusil, Cushman & Wakefield/NorthMarq, represented building owner United Properties. Blue Plate Restaurant Company was represented by Jeff Herman, Urban Anthology, Inc.

Once a commercial bakery and home of the Loose-Wiles Biscuit Company (later Sunshine Biscuits), the 120,000-sq.-ft. building is listed on the National Register of Historic Places.

United Properties purchased the historic building in July 2012 and is renaming it Loose-Wiles. Currently, the building has 80,000 sq. ft. available for lease.

About Blue Plate Restaurant Company
In 1993, founding partners David Burley and Stephanie Shimp opened their first neighborhood restaurant. Since then, Blue Plate Restaurant Company has opened a total of seven locations: Highland Grill, Edina Grill, Longfellow Grill, Groveland Tap, 3 Squares, Scusi and The Lowry. More at blueplaterestaurantco.com.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Martha Nevanen
952-893-7539
martha.nevanen@marquettere.com

Plans begin to renovate, reposition the 100,000-sq.-ft. building

MINNEAPOLIS (May 13, 2013) – United Properties announced today that it has closed on the acquisition of 505 Nicollet Mall, the former site of Neiman Marcus, in downtown Minneapolis. United Properties will work with Shea Design to formalize renovation plans for the 100,000-sq.-ft., four-story building, with the goal of creating a design consistent with the plans for the adjacent retail space. Renovation work will be complete by the end of 2013.

“We are excited to revitalize this part of Nicollet Mall and currently are evaluating a variety of tenant uses,” said Bill Katter, executive vice president, United Properties. “We will deliver a large block of space on Nicollet Mall at a time when the market is increasingly looking for these unique opportunities.”

Over the past three years, United Properties has increased its investment and development activity in Minneapolis with its historic renovations to the Ford Center, its acquisition of the historic Loose-Wiles building (located at 701 Washington Ave. N.) and its sale of the 10th and Nicollet site to Target Corporation. Additionally, the company has optioned the Shapco Printing site at 524 N. Fifth Street in anticipation of a redevelopment in the near future.

505 Nicollet Mall represents the company’s third building acquisition in Minneapolis since 2007; downtown office tower McGladrey Plaza at Eighth Street and Nicollet Mall has been part of United Properties’ investment portfolio since 1994.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Martha Nevanen
952-893-7539

DENVER (March 11, 2013) – United Properties announced today that it has acquired 61 Inverness, an office building in Inverness Business Park in southeast suburban Denver. Located at 61 Inverness Drive, the 87,000-sq.-ft., three-story class B office building was 60 percent leased at the time of the March 1 closing.

A Minneapolis-based commercial real estate developer with operations in Denver, United Properties has been investing in the Denver market since 1995. In the last eight years, the Denver office of United Properties has acquired and redeveloped more than 650,000 sq. ft. of commercial properties. 61 Inverness represents the company’s first office acquisition in the Denver market.

“61 Inverness presents a value-add opportunity and gives us a foothold in Denver’s suburban office market,” said Frank Dutke, president. “This acquisition—along with the Enterprise Business Center industrial development project in Denver—demonstrates our commitment to the market.”

“We purchased the property at a price well below replacement costs, allowing us to carry out significant upgrades to the property and compete for tenants,” said Kevin Kelley, vice president/regional director-Colorado. “Class A availability is tightening up, putting pressure on class B rents and availability. We are able to lease up to 30,000 sq. ft. of contiguous space and take advantage of the improving market conditions.”

Located in Inverness Business Park and adjacent to the Jeppesen world headquarters, 61 Inverness’ largest tenant is Jeppesen, a subsidiary of The Boeing Company.

United Properties plans to upgrade the lobbies, common areas and restrooms, as well as the building signage and property exterior. Inverness Properties, LLC represented United Properties in the transaction and will continue to manage and lease the property on behalf of United Properties.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Martha Nevanen
952-893-7539
martha.nevanen@marquettere.com

MINNEAPOLIS (March 6, 2013) – United Properties announced today that it will develop two new retail locations for Caribou Coffee in Anoka and Oakdale, Minn. Both freestanding locations will be approximately 1,800 sq. ft. and include a drive-through.

The new Anoka Caribou Coffee will be located at the northwest corner of Ferry Street and Main Street; the new Oakdale Caribou Coffee will be located at the northeast corner of Highway 36 and Century Ave. Construction on both locations will begin in April 2013.

“We’re very excited to be working with Caribou Coffee on these two build-to-suit projects, and we look forward to future projects with them,” said Keith Ulstad, senior vice president of development at United Properties.

Tricia Pitchford, Ned Rukavina and David Daly of Cushman & Wakefield/NorthMarq represented Caribou Coffee in both transactions. Architecture firm Rylaur, LLC has been selected for both developments. Carlson McCain provided environmental consulting for both developments, as well as project engineering services for the Oakdale development. Hakanson Anderson Associates, Inc. provided engineering services for the Anoka development.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Martha Nevanen
952-893-7539
martha.nevanen@marquettere.com

MINNEAPOLIS (Feb. 7, 2013) – United Properties, along with project partner Jerry’s Enterprises, Inc., announced today that it will develop Bielenberg Gardens, a grocery-anchored shopping center in Woodbury, Minn. Located at the southwest corner of Radio Drive and Bailey Road, Bielenberg Gardens will feature 90,000 sq. ft. of retail space on a 30-acre site.

The shopping center will be anchored by a 68,000-sq.-ft. grocery store, operated by Jerry’s. Construction will begin June 2013.

“We’re very excited to be bringing grocery-anchored retail to serve southern Woodbury,” said Keith Ulstad, senior vice president of development at United Properties. “Our goal is to create a shopping center that will meet residents’ day-to-day needs with amenities such as a grocery store, coffee shop, gas station and pharmacy.”

In addition to working closely with the City of Woodbury, project partners include Architectural Consortium, LLC, and engineers Kimley-Horn.

About Jerry’s
Jerry’s Enterprises, Inc., based in Edina, Minn., operates thirty seven food stores located in Minnesota, Wisconsin, and Florida, under the retail banners of Jerry’s Foods, Cub Foods, County Market, and Save-A-Lot.  Jerry’s also owns and operates shopping centers in the same states.  Jerry’s has approximately 3,200 employees.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Martha Nevanen
952-893-7539
martha.nevanen@marquettere.com

MINNEAPOLIS (Dec. 20, 2012) – United Properties announced today that Ford Center has been awarded LEED Gold certification. The LEED rating system, developed by the U.S. Green Building Council, is the foremost program for buildings, homes and communities that are designed, constructed, maintained and operated for improved environmental and human health performance.

Located at 420 Fifth St., Minneapolis, Ford Center received LEED Gold certification based on a number of important achievements, including high-efficiency mechanical systems that utilize a state-of-the-art under floor air delivery system; extraordinary daylight due to Ford Center’s large, fully restored windows; proximity to mass transit such as LRT and commuter rail services; and use of sustainable remodeling materials.

“Achieving LEED Gold certification was always one of our goals with the renovation of Ford Center, so we’re very pleased to have achieved Gold certification on this historic building,” said Bill Katter, executive vice president, United Properties.

Ford Center was built in 1912 and previously home to Ford Motor Company’s vertical assembly plant and showroom. United Properties recently completed a historic renovation of the 265,000-sq.-ft. building. The office building is 99.5 percent leased.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Martha Nevanen
952-893-7539
martha.nevanen@marquettere.com

MINNEAPOLIS (Dec. 17, 2012) – Kristi Olson was recently hired at United Properties as vice president, working with the company’s residential team, which develops Applewood Pointe senior co-op communities and Cherrywood Pointe assisted living communities. Olson has been involved in the senior housing industry for more than 25 years, with expertise in assisted living.

“As we continue to develop our Applewood Pointe and Cherrywood Pointe portfolio, Kristi’s experience and knowledge in senior housing will be a great asset,” said Brian Carey, executive vice president of United Properties.

Olson is widely recognized as a leader in assisted living. She was the founder and partner of Keystone Communities, which developed four assisted living communities in the Twin Cities, while also acquiring and turning around two other assisted living communities. Prior to establishing Keystone, Olson was chief executive officer of Twin City Christian Homes (TCCH) for 17 years.  During her tenure at TCCH, she coordinated the construction, financing, marketing and management for care and housing units for senior adults. Throughout her career, Olson has developed, marketed and managed nearly 30 senior care communities.

Olson has a bachelor’s degree in business and marketing and studied for master’s degree at the University of Minnesota.  She is a licensed housing manager with the Department of Housing and Urban Development (HUD) and a certified public housing manager. She has a certification in sales and operations with the Assisted Living Federation of America. Olson has been active throughout her career with the Aging with Services Organization, serving on the board of directors of care providers and the government affairs steering committee on elderly for the state of Minnesota. She has been active in the Christian Stewardship Association and is certified in organizational leadership.

United Properties currently has seven metro locations of Applewood Pointe senior co-op communities; nearly 1,000 Twin Cities residents call Applewood Pointe home. The company’s first assisted living community, Cherrywood Pointe, opened in September 2012 at its Langton Lake community in Roseville, Minn.

As a result of the quick sale and strong interest in the first phase of senior co-op Applewood Pointe of Roseville at Langton Lake, phase two of the cooperative will break ground this month with nearly 85 percent already presold. This second and final phase will include 41 co-op homes and will be connected to phase one. Construction of phase two is anticipated to be complete in the fall of 2013.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Martha Nevanen
952-893-7539
martha.nevanen@marquettere.com

MINNEAPOLIS (Dec. 13, 2012) – Rob Loftus, Jamie Pollock and Brandon Champeau have each been promoted recently at United Properties. The promotions support the company’s growth in commercial development and investment in both the Twin Cities and Denver markets.

Rob Loftus has been promoted to vice president; his previous position was assistant vice president. He is responsible for a portfolio totaling more than 1.3 million square feet including office, industrial and retail buildings. Loftus was instrumental in renovating Northland Center in Bloomington, Minn., which is home to United Properties’ headquarters. He also leads the strategic energy management initiative for the owned portfolio to assure optimal building efficiency.

Loftus joined United Properties in 1988 as a property manager. He is a member of the Clubhouse Committee for Gilda’s Club Twin Cities and a board member of the Boys & Girls Clubs. He is an active member of NAIOP and is a certified CPM and RPA. He received his bachelor’s degree from St. Cloud State University and is active in school’s Real Estate Alumni Association.

Jamie Pollock has been promoted to assistant vice president; his previous position was asset manager, where he helped expand the retail leasing program. In his new role, he is responsible for more than 750,000 sq. ft. of retail investments in Minnesota, Colorado and Wisconsin. Pollock will continue to expand his portfolio responsibilities and support retail investment activities.

In 2007, Pollock joined United Properties’ development division where he oversaw development and redevelopment projects in Colorado. He is an active member of the International Council of Shopping Centers and the Urban Land Institute. Pollock received his bachelor’s degree from Washington College in Chestertown, Md.

Brandon Champeau has been promoted to assistant vice president; his previous position was development manager. Champeau oversees development and redevelopment of retail and office properties in the Twin Cities. He also oversees leasing efforts on new development projects.

Champeau joined the United Properties development team in 2006; previously, he was part of the company’s retail brokerage group, which is now Cushman & Wakefield/NorthMarq. He is a member of the International Council of Shopping Centers, the legislative committee of the Minnesota Shopping Center Association, and the Young Leaders of Urban Land Institute. He earned his bachelor’s degree from the University of Minnesota Carlson School of Management.

About United Properties
United Properties, based in Minneapolis, Minn., specializes in commercial real estate development and investment. Since 1975, United Properties has provided development services for the retail, residential, office, medical and industrial sectors. In addition to a large presence in the Minneapolis-St. Paul market, United Properties’ Colorado division develops retail properties as well as office and industrial buildings. Formed in 1916, the United Properties investments group acquires, manages, finances and disposes of the company’s real estate investments, which includes nearly 60 office, medical, industrial and retail assets in Minnesota, Wisconsin and Colorado. For more information, visit www.uproperties.com.
Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Martha Nevanen
952-893-7539

Developer to begin construction of 710,850-sq.-ft. Enterprise Business Center

DENVER (Dec. 5, 2012) – United Properties, a developer and investor with offices in Denver, announced plans today for a new 710,850-sq.-ft., Class A industrial development at Stapleton: Enterprise Business Center. Strategically located near I-70 and Havana Street in Denver, construction on this three-building complex of state-of-the-art industrial space is scheduled to begin in early 2013.

“Enterprise Business Center is the product of demand, given Denver’s economic growth,” said United Properties Vice President Kevin Kelley, who oversees development projects for the firm’s Denver office. “We’re excited to develop a park that likely will support more than 300 new jobs.”

The three-building development will incorporate energy-efficient, green building design throughout, including one cross-dock distribution building totaling 514,500 sq. ft., and two office/flex buildings of 105,000 sq. ft. and 90,000 sq. ft.

“This is the first speculative industrial project since 2007. Limited high quality product supply, near record positive absorption and a low 7.4 percent vacancy rate are driving up industrial market demand across the metropolitan area,” said Executive Managing Director Mike Wafer, SIOR of Newmark Knight Frank Frederick Ross. Wafer and Senior Managing Director Tim D’Angelo, SIOR, serve as the listing agents for this property.

With direct access to I-70 and situated within one of the most successful master-planned redevelopments in the country, Enterprise Business Center at Stapleton is positioned near shopping, recreation, entertainment and dining.

“United Properties has broad expertise in industrial development and investment, and we’re interested in expanding our portfolio in Denver,” said Frank Dutke, president, United Properties. “This site has ideal access and the amenities of the Stapleton redevelopment are outstanding.”

About Newmark Knight Frank Frederick Ross
A dominant regional force in commercial real estate since 1888, Newmark Knight Frank Frederick Ross delivers comprehensive real estate services as part of the expansive platform of one of the largest commercial real estate service firms in the U.S. Regionally, Newmark Knight Frank Frederick Ross offers a powerful combination of people and services that upholds the firm’s solid reputation for superior knowledge and proven results.

About Newmark Grubb Knight Frank
A part of BGC Partners, Inc. (NASDAQ:BGCP), Newmark Grubb Knight Frank is one of the largest commercial real estate service firms in the U.S. It brings together the strategic consultative approach to creating value for clients and leading position in the New York market that are hallmarks of Newmark Knight Frank; the complementary strengths of Grubb & Ellis in leasing and management, investment sales, valuation and capital markets services; and BGC’s financial strength, proprietary technology, expertise in global capital markets and deep relationships with many of the world’s leading financial institutions.

Newmark Grubb Knight Frank, together with its affiliates and London-based partner Knight Frank employ more than 11,000 professionals, operating from more than 300 offices in established and emerging property markets on five continents. This major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide.

Media Contacts
Jessie Folkens
952-837-8516
jessie.folkens@marquettere.com

Deb Bergman
303.260.4307
dbergman@newmarkkffr.com

New leases bring building to 99.5 percent occupancy

MINNEAPOLIS (Nov. 5, 2012) – United Properties announced today three new leases at Ford Center for Northern Lights Broadcasting, Agosto and Atomic Playpen. With these new tenants, the building is 99.5 percent leased; all that remains is 550 sq. ft.

“We’re hoping to find an eatery of some kind to fill the remaining space and serve the building’s tenants,” said John Saunders, United Properties. Owner and redeveloper United Properties was represented in all three transactions by Jim Montez and Sonja Dusil of Cushman & Wakefield/NorthMarq.

Northern Lights Broadcasting, broadcaster of FM 96.3 K-TWIN, signed a lease for 8,400 sq. ft. of space on the first floor of Ford Center. The broadcaster will move from its current location in Edina to a glass-front studio facing Fifth Avenue and Fifth Street. Northern Lights Broadcasting plans to move into the space this month. The project team includes designer Nelson and general contractor RJM Construction.

Agosto, a Google App and cloud consulting firm, signed a lease for 13,200 sq. ft. on the fourth floor. Agosto moved into Ford Center in early October. The project team includes Collage Architects, RJM Construction and tenant broker Rob Youngquist of Cushman & Wakefield/NorthMarq.

Web developer and designer Atomic Playpen will occupy 11,800 sq. ft. on the sixth floor of Ford Center. A December move-in date is planned. The project team includes general contractor RJM Construction, designer Nelson, and tenant broker Bob Revoir of Cushman & Wakefield/NorthMarq.

Located at 420 Fifth Street, Minneapolis, Ford Center was built in 1912 and previously home to Ford Motor Company’s vertical assembly plant and showroom. United Properties recently completed a historic renovation of the 265,000-sq.-ft. building.

Media Contacts
Martha Nevanen
Vice President, Marketing Communications
952-893-7539
martha.nevanen@marquettere.com

Jessie Folkens
Sr. Communications Consultant
952-837-8516
jessie.folkens@marquettere.com