Four of six Minnesota locations to move, field sites in other states not affected

EAGAN, MINN. – Feb. 16, 2017 – Prime Therapeutics LLC (Prime), a pharmacy benefit manager (PBM) serving 17 Blue Cross and Blue Shield plans – including Blue Cross and Blue Shield of Minnesota – signed a lease with real estate developer United Properties, to build a new facility in Eagan. This facility will consolidate its two Eagan offices plus its Edina and Mendota Heights offices.

With its current Eagan building leases starting to expire in 2018, Prime worked over the past several months to evaluate a variety of locations in the Twin Cities area – both existing office space and new construction. In collaboration with JLL and Greater MSP, Prime was able to find the best long-term solution in a 30-acre site known as “Boulder Lakes.” The property is located on Lake Shanahan, south of Interstate 494 and east of Dodd Road in Eagan.

Prime’s Minnesota sites in Bloomington and on Lexington Avenue in Eagan will remain open. Prime has more than 3,600 employees, with more than 2,000 in Minnesota.

The new Prime facility in Eagan will house Prime’s IT and operations teams and will be flexible enough to accommodate Prime staff from consolidated locations and allow for future growth.

“Consolidating our offices will provide long-term operational efficiencies that will provide financial savings for our company and our clients, while meeting current business needs and future business strategy,” said Prime’s President and CEO Jim DuCharme. “Eagan has been and continues to be a perfect fit for Prime as the majority of our Minnesota-based employees are already in Eagan. This new facility will minimize team disruption and enhance collaboration. I look forward to continuing our strong working relationship with city leadership as we evolve Prime’s presence in Eagan.”

“It’s tremendously gratifying when a major employer like Prime Therapeutics determines Eagan has what it takes for their continued success,” said Eagan Mayor Mike Maguire. “Prime’s strategic decision to unite operations here on a single corporate campus,” he added, “not only builds on our more than decade long relationship, but it keeps and concentrates several thousand highly skilled jobs in Eagan. We are both proud of the continued momentum this brings to maintaining the exceptional quality of life Eagan is known for.”

“United Properties is excited to be moving down the development path with Prime for its new facility in Eagan, and we’re very pleased to have found just the right site for their planned consolidation,” said Gordy Stofer, vice president of office development.

About United Properties

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 enrich 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 offices in Denver and Austin, Texas.



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