MINNEAPOLIS, Minn. (June 1, 2010) — United Properties announces that the following leases have been signed in its office real estate portfolio.
Two new leases secured at Centennial Lakes Office Park
United Properties has secured leases with two new tenants at Centennial Lakes Office Park in Edina, Minn. In both transactions, United Properties was represented by NorthMarq leasing agents Jim Jetlandand Tom Sampair.
Capstone Advisory Group LLC, represented by Jim Schlundt of First Industrial Realty Trust, has signed a lease for 5,110 sq. ft.
A lease was also secured with BMS Intermediaries, Inc. The company had been subleasing a 5,400-sq.-ft. space from another tenant at the park and signed an agreement to become the primary lessee of the space. BMS Intermediaries, Inc., was represented by Jim Damiani of Welsh Companies.
Located in Edina, Minn., the office park includes five buildings and a Macaroni Grill totaling 835,000 sq. ft. and is surrounded by a city park, multi-family housing and retail. The project, developed between 1996 and 2001, is a joint venture owned by United Properties and State Farm.
New tenant moving into Northland Center
United Properties, represented by NorthMarq’s Bill Rothstein, also secured a 10-year lease with Hammargren & Meyer P.A. for space at Northland Center in Bloomington, Minn. The law firm, represented by Mike Perkins of Welsh Companies, will occupy 8,500 sq. ft. Northland Center comprises two connected, seven-story buildings totaling 465,000 sq. ft.
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 flex office 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.
NorthMarq offers commercial real estate services, including transaction and advisory services, real estate management, and debt and equity placements, to investors and occupiers of commercial real estate from its headquarters in Minneapolis. The company manages more than 60 million sq. ft. of retail, industrial and office assets in 22 markets around the country, handles more than 7,500 transactions annually and provides real estate debt and equity financing, and commercial loan servicing in 32 offices coast-to-coast, with an average of $7 billion in annual production volume and services a loan portfolio of more than $40 billion.
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