Occupancy at 370,000-sq.-ft. office tower now at 92 percent

MINNEAPOLIS (Nov. 21, 2011) – United Properties announces three tenant expansions and a new lease at Southpoint Office Center in Bloomington, located at 1600-1700 West 82nd Street. As a result, the two-tower office complex is now 92 percent occupied. New tenant Ecologic Analytics, an energy management company, signed a lease for 17,000 sq. ft. and will move into Southpoint in March. Current tenants HealthFitness, Wells Fargo and Marquette Transportation Finance are expanding and relocating within the complex.

Landlord United Properties was represented in the transactions by Bill Rothstein and Dan Wicker from Cushman & Wakefield/NorthMarq.

  • The lease with Ecologic Analytics relocates the company’s corporate headquarters from another office tower in Bloomington to Southpoint. Paul Gibbs and Todd Braufman of Cushman & Wakefield/NorthMarq represented Ecologic Analytics.
  • Wells Fargo expanded by 9,000 sq. ft. and renewed in their existing lease, bringing their total occupancy to 67,000 sq. ft. starting in March.
  • The 18,000-sq.-ft. lease extension for Marquette Transportation Finance recently moved the company to the second floor of the east tower. Cushman & Wakefield/NorthMarq’s Ann Bourg and Josh O’Neill managed the project for the tenant and RJM Construction built out the space.
  • Combining its spaces within Southpoint, HealthFitness is extending its lease and moving into 34,000 sq. ft., which includes walking treadmill offices. P. Kane Dossett of Partners National Real Estate Group represented HealthFitness in the transaction. RJM Construction is renovating the space, which will be available for December occupancy.

“These lease transactions are great examples of high quality tenants making strong commitments to Southpoint. The property is always well-leased by great companies due to its excellent quality and central location,” said John Saunders, vice president, United Properties. “With office vacancy at 18.4 percent in the southwest office market, this asset continues to perform well above many other buildings in the submarket.”

United Properties developed Southpoint Office Center, a 366,807-sq.-ft., Class A office complex. The 14-story, two-tower property is certified LEED Silver for Existing Buildings.

Media Contacts
Martha Nevanen
Vice President, Marketing Communications

Jessie Folkens
Sr. Communications Consultant

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.



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