University Enterprise Laboratories
Projected Completion Date: Fall of 2005
University Enterprise Laboratories (UEL) is a nonprofit organization formed to provide early-stage bioscience companies with laboratory space and related infrastructure. UEL was founded by the University of Minnesota Foundation and the University of Minnesota with support from the City of St. Paul and several Minnesota-based corporations. UEL purchased an existing warehouse/office building at 1000 Westgate Drive in St. Paul from the City of St. Paul and is converting it to office and incubator lab space for up to approximately 50 tenants.
Role: UEL has retained LaSalle Group in negotiating the purchase of the building from the City of St. Paul and the related development agreement and financial assistance package. The LaSalle Group has also assisted UEL in all aspects of the redesign and remodeling of the building and in working with the contractor, Kraus Anderson, in establishing reasonable and achievable construction phasing and budgets. The LaSalle Group is involved with meeting with prospective tenants and in negotiating lease terms. The LaSalle Group is currently monitoring construction activities on the behalf of UEL, which includes representing UEL at all construction meetings, reviewing all change orders and requests for payments, and overseeing the punch list and substantial completion processes. LaSalle Management Group currently manages the UEL building and is coordinating the transition of the building from construction to occupancy phase.