19-year veteran retiring from Minneapolis’ United Properties

Keith Ulstad

After 19 years of service to Minneapolis-based United Properties, Keith Ulstad, senior vice president of retail investment and development, will retire on July 1 of this year.

A highly visible and charismatic leader in the retail development field, Ulstad has led United Properties’ retail and mixed-use acquisition, development and redevelopment efforts since joining United Properties in 2002.

Ulstad’s career accomplishments include the acquisition of a significant number of suburban grocery-anchored retail centers that propelled United Properties into the retail business, as well as the pioneering development of several successful mixed-use projects such as Lyndale Green and Penn & American, both in Bloomington. He has overseen the acquisition, development and redevelopment of more than 25 shopping centers, as well as other notable projects such as Plaza VII, a mixed-use development in downtown Minneapolis.

“Keith has cemented an indelible legacy, both at United Properties and within the commercial real estate industry,” said Bill Katter, co-president and chief investment officer, United Properties Development. “He has had a significant impact on all of us who have been fortunate enough to work with him. We have benefited from his strategic thinking and focus on execution, as well as the personal touch he brings to every conversation,” he said, adding that Ulstad has served as a mentor to many development professionals at the firm.

“Keith’s expertise in building strong relationships in the industry and with the communities we serve is unparalleled,” Katter said. Ulstad has been active in the International Council of Shopping Centers, Urban Land Institute and Minnesota Shopping Center Association.

Ulstad’s retirement plans include enjoying life outside of work with his wife, Mary, and keeping busy with recreational flying, spending time at the family cabin on the North Shore of Lake Superior and fishing in Alaska.