The Manitowoc Co. Relocating HQ to Milwaukee

The firm has leased 16,000 square feet in the northwest part of the city, where it will move its headquarters later this quarter.

One Park Place
One Park Place

The Manitowoc Co. has signed a lease for 16,000 square feet at One Park Place in northwestern Milwaukee’s Park Plaza office campus. The firm, a crane manufacturer, is expecting to move into the new space by the end of the first quarter of 2018, following the completion of tenant improvements. In conjunction with the relocation to Milwaukee, the company has agreed to sell its former headquarters located at 2400 S. 44th St. in the city of Manitowoc, Wis. to Investors Community Bank.

Located at 11270 W. Park Place, Manitowoc’s new home sits at the intersection of Interstate 41 and the Fond Du Lac Freeway, providing convenient access to Milwaukee’s downtown and to the wider region. The 12-story, 228,261-square-foot office tower is home to a number of major tenants, including Mutual of Omaha, Northwestern Mutual and BMO Harris Bank. GLL Real Estate Partners owns the property, which it acquired from Transwestern in 2006 for $27.6 million, according to Yardi Matrix. Originally built in 1983, GLL completed extensive renovations on the building in 2011. Tenant parking is provided in an on-site parking structure with 662 spaces.

“Manitowoc’s origin as a Wisconsin-based manufacturer dates to 1902. The state has an impressive roster of global manufacturing businesses with a top-level talent pool, and we are excited about the move of our corporate headquarters. We believe this location will strategically create easier accessibility for our customers, shareholders and employees,” said Barry Pennypacker, president & CEO of Manitowoc, in a prepared statement.

Late last year, NEC Display Solutions of America announced a corporate headquarters relocation from Itasca, Ill., to Downers Grove, Ill.

Image courtesy of Yardi Matrix