Pohlad real estate executive Boyd Stofer, 62, dies

Boyd Stofer, a leading commercial real estate developer in the Twin Cities and a top executive of Pohlad Cos. real estate holdings, died suddenly early Tuesday. He was 62.

Stofer, chairman and chief executive of Marquette Real Estate Group, was on vacation in Phoenix when he died of natural causes, said Mary Lilja, a Pohlad Cos. spokeswoman. No further details were available.

"Boyd exemplified excellence in everything he did as the architect and leader of our real estate group," said Jim Pohlad, owner of Pohlad Cos., in a statement. "It is a terrible loss for all of us who were fortunate enough to know Boyd, and to have worked side by side with him. Our hearts, support and prayers go out to his family."

Marquette Real Estate Group, which Stofer headed at the time of his death, is the privately held holding company for United Properties, Cushman & Wakefield/NorthMarq Real Estate Services, NorthMarq Capital and RJM Construction. All of the companies are owned by the Pohlad Family Cos., which also owns the Minnesota Twins.

"In the 33 years he was here, he built these businesses to what they are today," said Frank Dutke, president of United Properties. "I don't think there's any other business in our town that's comparable to what Boyd was able to build."

Stofer began his career in the Twin Cities as a project manager for United Properties. Among his notable commercial projects was the Centennial Lakes mixed-use development in Edina, a widely heralded project. It earned him Developer of the Year honors in 2004 from the National Association of Industrial and Office Properties.

He also developed Northland Executive Office Center, Southpoint Tower and Northland Plaza and was involved in Ford Center's renovation in the North Loop. He also helped attract medical technology firm Coloplast to the Minneapolis riverfront.

He recalled meeting Stofer in the 1980s.

"He was leading United Properties and in a period when people were building very rapidly," Rybak said. "Boyd had a more measured approach that let United Properties survive. He had the same approach during the last economic troubles. He was a an extremely smart strategic investor who didn't take wild risks."

By 1995, Stofer had built the largest brokerage and property management practice in the Twin Cities. (The Pohlad family bought United Properties in 1998.)

The companies forming Marquette Real Estate Group currently employ more than 1,200 people. "It was a really great feeling to get his approval and to know that Boyd was on your side," said Ed Padilla, CEO of NorthMarq Capital. "He was just a terrific guy, this is a huge loss to the community."

Larry Pobuda, now partner of the Stewart Lawrence Group, who worked at United Properties, said Stofer "always challenged me to think about things in new ways. He would ask a lot of questions, and he'd frequently end the conversation by saying, 'Carry on,' it was kind of his way of gently moving the issue forward."

Stofer was a board member of several community organizations, including the Boys & Girls Clubs of the Twin Cities and the Trust for Public Land.

Terryl McKaye, of the Boys & Girls Clubs, said Stofer "worked tirelessly to ensure kids had the resources needed to succeed."

Stofer is survived by his wife, Cherie; children Robert, Katharine and David; two brothers, Gordon of Edina and Chip of Boston; and a sister, Judy Block, of Chicago.

Funeral arrangements are pending.