Company caps milestone year with plans for its third HQ move in a century
MINNEAPOLIS (December 8, 2016) – United Properties will move its headquarters from Bloomington to its new location at 7th & Nic. in downtown Minneapolis, the company announced today. Currently located in the Northland Center in Bloomington, United Properties will relocate to the fourth floor of the building formerly known as Gaviidae Common, at 655 Nicollet Mall. The move will take place in early 2017.
“This is an exciting new chapter for United Properties,” says Eva Stevens, president and chief operating officer, who, together with Bill Katter, president and chief investment officer, assumed their co-president roles earlier this year. “We are moving forward on several fronts, and the headquarters move is just another example,” she said, adding that this marks just the third time in the company’s 100-year history that it has moved its corporate headquarters.
Privately held United Properties has been creating deep roots in the Twin Cities since 1916. Two iconic Minnesota families have owned the company in its 100-year history: the Hamm family of St. Paul, and the Pohlad family of Minneapolis. Formed in 1916 by the owners of Hamm’s Brewing Company, United Properties managed the family’s real estate assets from its downtown St. Paul location in the Hamm Building for more than 60 years. From its second location in Bloomington – in the Northland Center, a building complex United Properties developed in 1983 – the company has grown into a commercial real estate powerhouse, shaping the skyline of cities throughout Minnesota and Colorado. The Pohlad family of Minneapolis, owners of Pohlad Companies, acquired United Properties in 1998 to broaden their business interests.
Similar to its previous moves, United Properties will occupy office space that it owns. United Properties purchased the third and fourth floors of Gaviidae Common in June 2016, following its acquisition of the first and second floors in early 2015. Katter said the company will take the majority of one floor for its own use, and will seek office tenants for the remainder of the space.
“As we look forward to our 101st year and beyond, we’re excited about the opportunities our new downtown location will bring,” says Katter. “Like the needs of the clients we serve, our own space needs are changing. Our move downtown will allow us to reinvent the space we occupy and provide inspiring new opportunities for our growing team.”
The move will also help streamline coordination and communication between United Properties and the Pohlad Cos., located in the nearby RBC Plaza.
During its anniversary year, United Properties has been busy in both of its hometown cities. In St. Paul, it is redeveloping the former St. Paul Saints Midway Stadium into an industrial building. In Minneapolis, United Properties is involved in several high-profile projects, including the Gateway development/Nicollet Hotel Block.
About United Properties
United Properties has been creating deep roots in the commercial real estate industry for 100 years. The company imagines new possibilities in real estate to help strengthen 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 an office in Denver. For more information, visit www.uproperties.com or follow on Twitter at @UPDeepRoots.