MINNEAPOLIS (June 28, 2021) — United Properties is moving forward on Phase 1 of the expansion of 4Front Technology & Office Campus located in Oakdale, Minn. The project — which is a joint venture with the Larson family, Slumberland’s founders — recently received a PUD Amendment to develop one of the last large parcels with direct freeway access and visibility within the major city freeway loop.
Phase 1 of the project will consist of 24 acres for industrial use. The full site sits at 122 acres and will be redeveloped in phases. The proposed master development plan will provide amenities to the existing office campus, with future phases of development — including commercial, industrial, retail, hotel, medical and office use — that will bolster local economies and create jobs.
“We are excited about the future of our partnership with the Larson family and working together to create and deliver a comprehensive master plan elevating the overall campus to the premier office and mixed-use location within Oakdale and the East Metro,” said Scott Peterson, vice president of hospitality & office development, United Properties. “The partnership merges two local families with deep roots in real estate and three generations of family-owned businesses. These facts have resulted in like-minded investment strategies, capital structures and anticipated investment vehicles.”
“The Larson family is very proud of the work that has been done to revitalize the existing 4Front campus,” said Michael Larson, vice president of development for Slumberland and Larson Enterprises. “Today, 4Front is 85% occupied and home to a wide range of companies from biotech to medical devices to digital marketing, as well as start-ups. The partnership with United Properties is the next step to fully develop this property into a world-class facility.”
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. For more information, visit www.uproperties.com and follow on Twitter, LinkedIn and Instagram.
About Slumberland Furniture
Slumberland Furniture is one of the Midwest’s top retailers of home furnishings. With more than 120 stores across twelve states, Slumberland sells high-quality mattresses and a full line of furniture and home décor, all at an incredible value to the customer. A family-owned company with strong roots in the community, Slumberland has a long history of giving back. Its 40 Winks foundation has given away over 45,000 new beds to kids in need since 1991.