EDSR HANDOUTS 05-14-2007 - Laserfiche WebLink

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United Properties Market Activity . General Dynamics signed along-term lease with First Industrial for 140,000 sq. ft. at 11300 Hampshire Avenue in Bloomington. • Progressive Rail signed aseven-year contract for 146,500 sq. ft. with two acres of outside storage at the former John Deere site on 94th Street in Bloomington. • Also on the former John Deere site in Bloomington, DHL signed along-term lease for 79,058 sq. ft. Southeast • Up North Trading Company signed athree-year lease for 39,296 sq. ft. at Nicollet Business Campus VII on Nicollet Avenue South in Burnsville. • Jostens took 33,924 sq. ft. in a long-term lease for office/tech space at the Armstrong Business Center in Eagan. • The 24,600 sq. ft. American Red Cross Building at 2919 Eagandale Boulevard in Eagan was purchased by The Builder's Group. RETAIL MARKET Back to Tao • Best Buy will build a 45,000-sq.-ft. prototypical store at Timbercrest at Lakeville, scheduled to open in fall 2007. The store is part of the second phase of the development located at I-35 and 185th Street in Lakeville. United Properties represented both the tenant and the landlord in the transaction. • Ryan Companies, represented by United Properties, sold 3.5 acres to Slumberland in the Dean Lakes development, located at Highway 169 and County Road 83 in Shakopee. • Primrose, a school franchising company, purchased the 104,979-sq.-ft. site at 1 Rockford Road in Plymouth from RSE Properties to build a prototype. INVESTMENT MARKET Back to Ton Office • Hempel Properties purchased atwo-building, 221,765-sq.-ft. portfolio from Urdang Capital Management. The properties, One Corporate Center I and III, are located on Metro Boulevard along Highway 100 in Edina. They are 87% occupied. • Hoyt Properties sold a 47-acre property at 7075 Flying Cloud Drive in Eden Prairie (the site of Best Buy's former headquarters) to Liberty Property Trust. To start redevelopment, the buyer is planning a 120,000-sq.-ft. Class A office building. Multi-Family • Stuart Companies purchased afour-building portfolio from Equity Residential Properties Trust, who is exiting the Twin Cities market to focus on coast cities. Included in the transaction were the 154-unit Coachman Trail Apartments on Olive Lane North in Plymouth, the 72-unit Fernbrook Townhomes on 43rd Avenue North in Plymouth and the 72-unit Summer Creek Apartments on Plymouth Boulevard. Retail • No significant transactions to report. Industrial • High Street purchased from First Industrial a 252,000-sq.-ft. property at 375 Rivertown Drive in Woodbury that is 100% occupied by a single tenant. This acquisition brings High Street's Twin Cities portfolio to 772,000 sq. ft. • Hillcrest sold a 180,000-sq.-ft. property at 3311 Broadway Street Northeast in Minneapolis to Synergy. The property is 100% occupied. • The 184,671-sq.-ft. Roseville Distribution Center on Long Lake Road in Roseville was sold to Page 3 of 4 http://outlook.uproperties.com/features/2007/2007April_MarketActivity.htm 5/11/2007