DENVER (June 10, 2011) – United Properties has been selected by the Colorado Association for Manufacturing and Technology (CAMT) as its development partner for the Aerospace and Clean Energy (ACE) Manufacturing and Innovation Park proposed for the former Agilent site in Loveland, Colo.
United Properties and CAMT are working to complete an agreement with the City of Loveland to purchase the property and will begin developing plans to recruit tenants. Pending completion of due diligence, the Loveland site will be the home of the ACE Manufacturing and Innovation Park.
“We are very pleased to have entered a development agreement with CAMT and believe this represents an exciting opportunity,” said Frank Dutke, president of United Properties.
In December, CAMT signed a five-year Space Act Agreement with NASA to develop technology acceleration programs and a framework for regional collaboration promoting innovation and job growth, known as the ACE Regional Innovation Cluster. As part of this initiative, CAMT is partnering with United Properties to develop the former Agilent facility into a multi-tenant campus that can house more than 70 companies with a focus on scale-up stage aerospace and clean energy manufacturing and technology companies.
“Aerospace and clean energy are key economic drivers for Colorado and sectors that we are working to expand. The ACE Tech Park in Loveland is a great example of how Colorado’s aerospace, innovation and technological expertise are converging to bring jobs and revenue to our state,” said Governor John Hickenlooper.
Currently, the Loveland campus is 167 acres with 811,000 sq. ft. of office space in four buildings. The initial project will include two 50,000 sq. ft. buildings to house shared services including testing, labs and other services needed to accelerate the process of developing and delivering new technologies to market.
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, 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.
About the Colorado Association for Manufacturing and Technology
The Colorado Association for Manufacturing and Technology (CAMT) is a statewide manufacturing assistance center dedicated to increasing the competitiveness of Colorado manufacturers. CAMT is a public/private partnership convening government, not-for-profit and industry resources to provide services and programs that make Colorado firms thrive. CAMT is the state affiliate of the national Manufacturing Extension Partnership, a program of the U.S. Dept of Commerce, providing unique access to federal and state programs. For more information, visit CAMT’s website at www.camt.com.
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