Tennant Co. Acquires MN Office Campus
The industrial cleaning equipment manufacturer has purchased the property in Eden Prairie, where it plans to relocate its headquarters in 2020.
Rendering of Tennant Co.’s new HQ
Tennant Co., a major industrial cleaning equipment manufacturer, has acquired an office campus in Eden Prairie, Minn., where it plans to move its corporate headquarters in 2020. Tennant’s partners in the deal included Oppidan Investment Co. and Gensler.
The new office is located at 3 Capital Drive, about 12 miles from the company’s current headquarters in Golden Valley, a neighborhood of Minneapolis. Element Fleet, a global fleet management company, currently occupies the office complex. A purchase price was not disclosed.
The move will consolidate 500 employees who are currently spread between three separate properties within Tennant’s current headquarters. Around 700 employees will remain working at the Golden Valley campus, where the company will continue to maintain a significant presence.
“Now is the right time for a move. We’re at capacity for office space on our Golden Valley campus, limiting our options for how to use our existing facilities.” said Chris Killingstad, president & CEO of Tennant Co., in prepared remarks. “This move creates the ability to optimize our Golden Valley location to be a dedicated manufacturing and engineering campus.”
In January, another company made headquarters moves in the St. Paul–Minneapolis market: Tech company Alula announced plans to relocate its headquarters from Hudson, Wis., to St. Paul, Minn.
Image courtesy of Tennant Co.
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