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Chicago & Midwest  + Midwest  + Industrial  | 

United Properties Breaks Ground on Five Twin Cities Projects

United Properties has broken ground on five industrial facilities in the Twin Cities, bringing nearly 750,000 square feet to the market. Half of the space has already been pre-leased, which the developers say is a testament to the market’s strength.

“Despite the uncertainty around the economic impacts of COVID-19, and most recently the rising construction costs and material lead times, we continue to see robust leasing velocity and new tenant requirements across the Twin Cities,” says Brandon Champeau, SVP and market leader, United Properties. We were poised to act on this demand, and the build-to-suit and pre-leasing activity in our speculative projects is evidence of the strength of our site positions in each submarket.”

Four of the five buildings are part of a recently announced $165-million joint venture partnership between United Properties and PCCP. The joint venture will develop an 11-building industrial portfolio in Minneapolis, Denver and Austin.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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