United Properties signs lease with North Memorial Health Care for downtown Minneapolis clinic

Lease signed for 8,000 sq. ft. above new Walgreens store

MINNEAPOLIS (July 20, 2015) – United Properties, along with its joint venture partner Capital Real Estate, Inc., announces a lease with North Memorial Health Care for a clinic on the second floor of 655 Nicollet Mall in downtown Minneapolis. Previously occupied by Saks, the skyway-level space will become the sixteenth North Memorial Health Care primary care clinic location in the metro. The clinic will offer primary care (including walk-in appointments), advanced imaging, mammography, podiatry, occupational medicine and lab services. The first floor of the 50,000-sq.-ft. space owned by the joint venture is leased to Walgreens for its first upscale store format in Minnesota.

The lease for the North Memorial space on the skyway level was signed in April; the clinic will open in November 2015. The 8,000-sq.-ft. clinic will have direct access to Gaviidae Common and the IDS Center. In addition to United Properties and Capital Real Estate, Inc., the project team includes general contractor BTS Construction, architect HGA, D.J. Kranz Co. and S2 Enterprises.

“We are thrilled to expand access to North Memorial Health Care’s primary care services into downtown Minneapolis,” said Kelly Macken-Marble, North Memorial Health Care president of population health and ambulatory services. “With this new location we are bringing the North Memorial care that this community has come to trust and value close to where they live and work.”

In December 2014, United Properties, in a joint venture with Capital Real Estate, Inc., acquired the first two floors of 655 Nicollet Mall. Construction on the Walgreens space began in February 2015 and will be complete in September 2015.

About North Memorial Health Care
North Memorial Health Care is an integrated health care system that offers state-wide care coverage with concentration in the central and northwest metro area of the Twin Cities. Through two hospitals, North Memorial Medical Center and Maple Grove Hospital; a full range of primary and specialty clinics; Urgency Centers; outpatient centers; medical transportation; and home and community outreach, North Memorial is a regional leader in advanced medical care. North Memorial has been an integral part of the community for nearly 60 years, providing patients and their families with compassionate, quality care while creating the safest environments possible.

About United Properties
United Properties, based in Minneapolis, 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 industrial buildings. Formed in 1916, the United Properties investments group acquires, manages, finances and disposes of the company’s real estate investments, which includes nearly 50 office, medical, industrial and retail assets in Minnesota, Wisconsin, Illinois and Colorado. For more information, visit www.uproperties.com or follow on Twitter at @UPDeepRoots.
Media Contacts
Jessie Timmerman

Martha Nevanen