7. EDSR 11-13-2007 - Laserfiche WebLink

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United Properties Market Activity • PDI will occupy the former Rider Bennet space at 33 South Sixth with a lease for 75,000 sq. ft. on the top three floors of the tower. • Lindquist and Vennum has renewed its lease and expanded into 120,000 sq. ft. at IDS Center, 80 South Eighth Street, with a 10-year term. St. Paul CBD • Gander Mountain expanded its space at 180 East Fifth Street by 20,000 sq. ft. for a total of 85,000 sq. ft. • NorthStar Capital Market Services Inc. renewed its lease at UBS Plaza for 11,600 sq. ft. and expanded by another 11,800 sq. ft. • UBS renewed and expanded in 18,300 sq. ft. at UBS Plaza. Northeast • Secure Computing Corporation expanded by 45,000 sq. ft. at its corporate headquarters site located at Hwy 280 and Energy Park Drive. CSM developed the first phase of 95,000 sq. ft. on the former HB Fuller site in 2005. CSM is also developing the second phase, which is currently under construction. • Internet Broadcasting Systems leased 79,000 sq. ft. at River Bend Business Center, located at Shepard Road and Randolph Avenue in St. Paul. IBS took occupancy in August 2007. • University of Minnesota leased 35,000 sq. ft. in two phases at University Park Plaza located on University Avenue in Minneapolis. MEDICAL OFFICE MARKET Back #o Top • Ryan Companies US, Inc. completed the 40,000-sq.-ft. Grove Health Medical Building at 9550 Upland Lane North, which is located one block from the planned site of the new Maple Grove hospital. Medical Advanced Pain Specialists (MAPS) signed along-term lease for the first floor of the building, which will accommodate a surgery center, clinic, and therapy pool. Gillette Children's Specialty Healthcare also signed along-term lease for space on the second floor. The group will operate a physical therapy clinic and a therapy playground at the building. • Mount Development broke ground on the approximately 60,000-sq.-ft. Ridgeview Professional Building at 560 Maple Street in Waconia in September. The building, which is adjacent to Ridgeview Medical Center, is planned for completion in summer 2008. Western OB/GYN, MOHPA, Minnesota Radiation Oncology, Edina Eye Physicians and Surgeons, and Orthopedic Consultants are among the tenants that have committed to space in the new building. This building addition is ahospital-driven effort to accommodate its expansion and to add capacity to the campus. • Southdale Medical Center at 6545 France Avenue South in Edina has broken ground on a 23,000-sq.-ft. expansion of its first and second floors. The expansion, anchored by Southdale Diagnostics, is scheduled for completion in summer 2008. Negotiations are underway with an additional five to six tenants for the balance of the space on first and second floors. INDUSTRIAL MARKET Back #0 lop Northwest • Minntech signed athree-year lease and doubled their distribution space from 22,000 sq. ft. to 44,000 sq. ft. at Plymouth Ponds at 17300 Medina Road in Plymouth. • The Generation Company (Empirehouse) sold a 51,585-sq.-ft. property at 4401 Quebec Avenue North in New Hope to 4401 Quebec LLC (Horwitz Mechanical) for $61 per square foot. • Cobalt Investors purchased a 70,100-sq.-ft. property at 19875 South Diamond Lake Road in Rogers. Cobalt also has several other properties under contract and is scheduled to close on them before the end of the year. • Hedberg Associates signed asix-year deal for 70,000 sq. ft. at Medicine Lake Industrial Building on Nathan Lane in Plymouth. Page 2 of 4 http://outlook.uproperties.com/features/2007/20070ctober MarketActivity.htm 10/31/2007