News

Here’s What’s Happening

News, insights, programs and more.

MINNEAPOLIS (June 18, 2019) – As construction begins on one of the most iconic skyscrapers in recent downtown Minneapolis history, nearly 85 percent of the building is already leased – with only three floors remaining.

Interest in leasing RBC Gateway continues to be high, according to Bill Katter, president and chief investment officer, United Properties Development. “This level of leasing is virtually unprecedented with a project of this size and scope,” he said.

RBC Gateway, named for its largest tenant, RBC Wealth Management – U.S., will rise 34 stories (plus three floors of building mechanicals and equipment) over downtown Minneapolis on the site of the old Nicollet Hotel, the landmark corner of Hennepin, Washington and Nicollet Mall. The RBC Gateway development will include the Twin Cities’ first five-star hotel and resort, the Four Seasons Hotel and Resort, as well as its first Four Seasons Private Residences.

Officials at the Pohlad Companies announced today that they will relocate to RBC Gateway in early 2022. The Minneapolis office of United Properties, the Bloomington office of NorthMarq, the Carousel Motor Group corporate team, Pohlad Family Foundation, Pohlad Investment Group, Marquette Companies and CRP Holdings will all move. All told, the Pohlad organization will occupy three floors, for a total of 96,000 sq. ft.

“The RBC Gateway project represents United Properties and our owners’, the Pohlads, latest commitment to enriching the Twin Cities community and leaving a lasting legacy for generations to come,” Katter continued. “We are thrilled to relocate our headquarters, along with our parent company and affiliated firms, to the iconic RBC Gateway site, and we look forward to welcoming other new tenants into this transformative space.”

Known as the “Gateway to Minneapolis,” the site once featured a grand hotel and a park extending to the Mississippi River. More than 25 years ago, the hotel was torn down and the park was replaced by a parking lot. Working with the City of Minneapolis and other partners, United Properties is restoring the splendor of this historical site. The total square footage of the project stands at more than 1 million sq. ft., making it one of the largest developments in recent history.

MINNEAPOLIS, Minn., January 30, 2019 — The Pohlad Companies today announced that effective February 4, 2019, Tom Pohlad, president and COO of Carousel Motor Group (CMG), will become CEO of PaR Systems LLC, a leading provider of automation, robotics and specialized material handling solutions. The Pohlad Companies acquired PaR Systems in October 2017 from MML Capital Partners. Tom succeeds Mark Wrightsman who has served as CEO of PaR Systems since 1999, successfully guiding the company’s growth and performance for 20 years. Tom joins a highly capable PaR executive team. Mark will remain on the board of PaR Systems and serve as an advisor to Tom and the company.

“We would like to thank Mark for his years of outstanding service and leadership of PaR Systems,” said Bert Colianni, CEO, Pohlad Companies.

With Tom’s departure from Carousel Motor Group, Chase Hawkins, vice president Porsche brand, will become president and COO, broadening his strategic, financial and functional responsibilities for the business, while maintaining his role at Porsche. General managers of CMG’s Audi Minneapolis and St. Paul, BMW of Minnetonka, Coon Rapids Chrysler Dodge Jeep Ram and North Branch Chevrolet dealerships will continue to lead their respective businesses and will report to Chase.

“We are excited by these leadership changes which will capitalize on the energy and creativity among the smart, talented and passionate teams at both operating companies,” said Colianni. “We are confident that, under Tom’s direction, PaR will build on its strong market position, continuing to advance its breakthrough work in automation, robotics and specialty material handling, and equally certain that Carousel Motor Group will continue to thrive and maintain its superior brand stewardship and exceptional customer experience under Chase’s leadership.”

Tom has served as president and COO of Carousel Motor Group since 2016. Previously, he served in a variety of roles within CMG, including General Manager Porsche of Minneapolis and Audi Minneapolis. Prior to joining Carousel Motor Group in 2010, Tom held roles in Pohlad Companies ranging from Commercial Real Estate to Major League Baseball to Pepsi Bottling. Tom joined the Pohlad family business after graduating from Boston College in 2002.

Chase has built considerable industry knowledge during his nearly three decades of experience in automotive sales, service, marketing, product planning and pricing roles, including Group General Manager of Motor Werks Auto Group and U.S. and international assignments with General Motors, in addition to his three years at CMG. Chase received his Bachelor of Commerce degree from the University of Natal, Durban in his native South Africa. He has lived or worked in countries on five continents.

Announces New Chief Operating and Strategy Officer

MINNEAPOLIS, Jan. 8, 2019  — The Pohlad Companies, a privately held portfolio of businesses and investments spanning a variety of industries, today announced that effective January 14, 2019, Mike Borofsky will join Pohlad Companies’ Management Group as chief operating and strategy officer. This newly created position complements the exceptional depth and strength of the Pohlad Companies’ current executive and family talent and positions the organization to accelerate future growth. Mike will report to Pohlad Companies CEO Bert Colianni and work closely with Jim, Robert and Bill Pohlad in their oversight capacities.

“We are thrilled to welcome Mike to Pohlad Companies and excited to introduce him to our team and community,” said Robert Pohlad. “The Pohlad family has long relied on strong, future-focused leadership to build our portfolio of businesses and support vital community initiatives, and we’re confident that Mike’s experience and leadership capabilities, combined with the energy, engagement and commitment of the second and third generations of the Pohlad family and our current management group, will help us achieve our goals for future growth.”

Prior to joining Pohlad Companies, Mr. Borofsky served as senior vice president of MacAndrews & Forbes Incorporated, a diversified, New York-based investment company. His responsibilities included acquiring and building global, high cash flow, market-leading businesses and helping the companies innovate and grow. Mr. Borofsky also previously held positions at Skadden, Arps, Slate Meagher & Flom, LLP and Goldman Sachs. He received his B.A. from Yale University and his J.D. from Columbia University School of Law.

MINNEAPOLIS (Sept. 17, 2018) – Investment industry veteran Elizabeth M. Lilly has been named chief investment officer for Marquette Companies, LLC., a holding company that is part of the Pohlad Companies. She replaces Jann Ozzello Wilcox, who retired at the end of May after 27 years with the organization.

In her new role, effective today, Lilly will provide leadership and management of the investment group for the Pohlad family, overseeing the teams that manage private equity investments and total return portfolios. She will report to Bert Colianni, chief executive officer for Marquette Companies, as well as to Jim Pohlad, family leader with oversight for investing.

“Beth brings many years of outstanding investment experience to her new role with us, and we are delighted to welcome her to our organization,” said Colianni. “She has worked with and known various members of the Pohlad family over many years, and she is highly regarded in her field and in the community.”

Lilly began her career with Goldman Sachs after graduating from Hobart/William Smith College with a degree in economics, later earning a CFA designation. She spent five years with Fund American Companies, where she worked as an analyst under the tutelage of Bob Bruce and Warren Buffett to learn the merits of value investing. In 1997, Lilly co‐founded the investment firm Woodland Partners, which focused on investing in small cap stocks. In 2002, Woodland Partners was acquired by Gabelli Asset Management (GAMCO Investors), where she served as a senior vice president and portfolio manager of the $1 billion Teton Westwood Mighty Mites Fund and as a member of the value portfolio management team.

These experiences continuously honed her investment acumen, culminating in the formation of her own investment firm in 2017, Crocus Hill Partners. Widely quoted in the national and local media for her investment outlook, Lilly has regularly participated with other investment experts in the Star Tribune’s Investors Roundtable.

###

Media Contact:

Mary Lilja
Lilja Communications
mcl@lilja.com
952.893.7140

JB Hudson Jewelers, an anchor of luxury retail on Nicollet Mall, is set to branch out into the North Loop. As part of another expansion by Martin Patrick 3, The Loupe by JB Hudson will open in the exclusive menswear and home interiors store September 2018.

The Loupe by JB Hudson, to be housed inside Martin Patrick 3 at 212 Third Ave S, will offer unique products previously unavailable in the Midwest. Think luxurious Italian gold bracelets alongside intriguing Swiss timepieces. The Loupe will offer far more men’s jewelry than the flagship JB Hudson store, located in the historic Young Quinlan building at 901 Nicollet. The Loupe already has a queue of exclusive designers and watch brands set to host trunk shows at the new space. In addition to a standard selection of products, special events at The Loupe will offer clients an exclusive opportunity to purchase rare and collectible pieces.

Just as Martin Patrick 3 focuses exclusively on men’s fashion, The Loupe will carry on that tradition. More men are using jewelry and watches to express their individuality, and The Loupe will offer men expert advice on how to style their unique pieces with an existing or new wardrobe. This expert style advice will blend seamlessly into the authentic, relationship style of customer service that JB Hudson is known for.

The partnership between the iconic JB Hudson and the trailblazing Martin Patrick 3 is proving to be exciting for both parties. JB Hudson President, Nick Pechman, sees the partnership as an exciting opportunity to extend JB Hudson’s presence into the burgeoning North Loop neighborhood. Forbes Magazine recently lauded MP3 as ‘…the hottest retailer in America’s hottest retailing city…’ Pechman expects the heritage that JB Hudson brings (making things happen since 1885) to meld well with luxury-seekers at Martin Patrick 3. Martin Patrick 3 sees the partnership being complimentary to their model of offering unique, luxury products. Prices at The Loupe will range between $1,000 and $1,000,000.

Both JB Hudson and Martin Patrick 3 are continually focused on bringing the best experiences to their clients. The Loupe will bring the same excellence of service found in the JB Hudson flagship store to an even wider audience. The Loupe will follow the convenient hours of Martin Patrick 3: Monday – Saturday, 10am until 8pm and Sunday, 10am until 6pm.

JB Hudson is owned by the Pohlad family’s Marquette Companies holding company.

« Older