The company consolidated about 380 employees from operations in Eagan and Minnetonka.
United Properties will co-manage all day-to-day operations and systems of the building, including themaintenance of GN Resound's hearing aid production line, according to Jay Grooters, vice president anddirector, United Properties Facility Services.
"We can supplement the company's internal staff to help it effectively manage the facility, as well asexpenses," Grooters says.
This assignment boosts United's Facility Services group's client list to 14 companies and more than 5.2million sf of property under management. Other clients include Marquette Banks, SGI, Cray,First State Bank of Texas and the University of Minnesota's McNamara Alumni Center.
United Properties became involved with the GN Resound property in mid-1999 when it was retained by thethen-tenant to sublease the building. After evaluating the property for marketing purposes, United decided to purchase the building and terminated the sublease.
United then successfully re-leased the property to GN Resound. United's construction services group alsomanaged the renovation of the building.
United Properties is a full-service commercial real estate company with 350 employees and 23 million sf of office, industrial, retail and multifamily properties under management. The companyspecializes in diverse real estate services, including brokerage, property management, corporate real estateservices, facility services, construction management, development services and investment services.
GN ReSound Corp. is a subsidiary of GN Great Nordic, an international group of expanding information,communication and technology companies with headquarters in Denmark. GN Resound Corp. is an international manufacturer of advanced technology hearing instruments.
With its recent acquisition of Beltone, GN ReSound is now the world's second-largest producer of hearing aids with estimated annual sales of nearly $400 million. Through its Madsen Electronics and Danplex divisions, GN ReSound also produces advanced software-based audiological measurement equipment.
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