X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MINNEAPOLIS-Marquette Real Estate Holdings has bought RJM Construction, a firm based here that was founded by Bob Jossart and Joseph Maddy. The acquisition into United Properties Construction Services expands the company’s employee base from 50 to 100, and adds the firm into Marquette’s commercial real estate portfolio, which includes NorthMarq Real Estate Services.

The new entity will provide general contracting, tenant improvement and construction management services to commercial, healthcare and community/sports center clients. Jossart tells GlobeSt.com that the new entity will have more than $140 million in construction volume. “This really helps us, we had project management and development requests by clients in excess of $100 million, but we didn’t have the financial strength or depth to take on that kind of work. Now we have the horsepower to do those larger projects,” he says.

He says the merger is complimentary to both firms. “We are very strong in healthcare and community centers, and they are strong in commercial. Also, we’re strong in the CBD, and they’re not, and we’re strong in tenant relations while they work more for the landlords,” Jossart says. Bruce Palmer, SVP with United Properties, is assisting in the transition and integration of the two businesses. NorthMarq Real Estate Services, a Pohlad company, was formed earlier this year handle the United Properties divisions, including brokerage, property management, construction and corporate solutions.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.