Genmar Selects NorthMarq Corporate Solutions to Assist with National Real Estate Disposition
MINNEAPOLIS (May 5, 2008) — NorthMarq Corporate Solutions has been selected by Genmar Holdings, Inc., one of the world's largest manufacturers of recreational boats, to lead the disposition of office and manufacturing properties in Florida and Oregon.
A diverse team of experts from NorthMarq and United Properties will work together to develop a disposition strategy for two large properties: a 15-building, 40-acre site in Sarasota, Fla., and a 5-building, 26 acre site in Culver, Ore. Strategic disposition of these properties will help Genmar in its ongoing efforts to streamline its business and maximize its real estate portfolio.
“One of the key elements will be to work with the municipalities and experts in the area to understand the comprehensive plan for future development of each site and what type of space and facilities are most in demand by prospective users,” said Mark Houge, senior vice president, NorthMarq Corporate Solutions.
NorthMarq Corporate Solutions will help Genmar maximize the disposition value of the properties by identifying the best alternatives for future use and designing a marketing plan to attract potential users, including institutional buyers, developers who would reposition the facilities for another use, or corporations that would operate business from these locations.
“This engagement comes at the perfect time to capitalize on some of the benefits of the reorganization of United Properties and NorthMarq Corporate Solutions,” Houge said. “It is exciting to have the breadth and depth of resources available to assist clients on projects like this on both coasts of the United States.”
About Genmar
Headquartered in Minneapolis, Minn., Genmar is a marine industry leader in technology, manufacturing innovation and environmental quality. The company’s products can be found in all 50 states and six continents, with more than 1,000 authorized independent dealers.
About NorthMarq
NorthMarq offers a full range of commercial real estate solutions across the country from its headquarters in Minneapolis, Minn. Its Capital Markets group offers commercial real estate investment banking, investment services, real estate debt and equity financing, and commercial loan servicing in 29 offices coast-to-coast. NorthMarq Capital provides more than $13 billion in annual production volume and services a loan portfolio of more than $36 billion. NorthMarq Real Estate Services provides brokerage, property management, healthcare services and construction to investors and space users in the Minneapolis market. NorthMarq Corporate Solutions works nationally with mid-sized corporate users to manage their real estate needs. For more information, please visit www.northmarq.com.
About United Properties
United Properties, based in Minneapolis, Minnesota, 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. The company's residential development focuses on Applewood Pointe senior cooperative housing. In addition to a large presence in the Minneapolis-St. Paul market, United Properties expanded to Colorado through the opening of a retail development office and the acquisition of Ojala and Company. Formed in 1916, its investments group acquires, manages, finances, analyzes and disposes of United Properties' real estate investments, which includes more than 60 office, industrial and retail properties. (www.uproperties.com)
Contact:
Martha Nevanen
952 893 7539
mnevanen@uproperties.com
Nicki Gibbs
651 789 2234
ngibbs@beehivepr.biz