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Doosan Bobcat Opens Minneapolis Office

The firm has signed a seven-and-a-half-year lease for office space in the Fifth Street Towers.

Doosan Bobcat Opens Minneapolis Office
A shot of the Fifth Street Towers' rooftop tenant lounge. Doosan Bobcat is opening opened a 'global collaboration center' in the complex.

Construction equipment maker Doosan Bobcat on Monday announced it’s opening a new office in downtown Minneapolis.

The company, whose North American presence already includes offices in Minnesota and North Dakota, has unveiled plans for a “global collaboration center” at the 150 Tower in the central business district of Minneapolis.

The tower is part of the Fifth Street Towers complex, owned by Chicago-based Zeller Realty Group.

In a news release, Doosan Bobcat says it will use the center to house “some elements of the company’s global functions.” The 10,600-square-foot office also will serve as a central meeting site for the firm’s global teams.

“Minneapolis has long been recognized as a hotbed of technology and engineering talent,” said Scott Park, Doosan Bobcat’s CEO. “We’re excited for Doosan Bobcat to become a part of this vibrant community and contribute to its innovative spirt with our growing team of professionals.

Seoul, South Korea-based Doosan Group acquired Bobcat more than a decade ago.

Doosan Bobcat signed the lease for the space on June 18, says Erin Fitzgerald, a principal with Transwestern. (Transwestern handles leasing for Zeller.) The lease will run for seven-and-a-half years.

Doosan Bobcat will be able to house up to 70 employees in the space, she says.

“They chose 5th Street towers because of all the amenities that were there to support the workforce they plan on hiring,” Fitzgerald adds. That includes added conference space, a tenant lounge, and a staffed fitness center.

More and more international firms are eyeing office space in Minneapolis, Fitzgerald says. Another case in point: Milan, Italy-based Amplifon, which manufactures the Miracle-Ear hearing device. Last winter, the company moved its North American headquarters from Plymouth to the Fifth Street Towers.

“This is a growing trend that we expect to continue in Minneapolis, with both national and global organizations choosing to locate here from outside the market,” Fitzgerald says.

Doosan Bobcat will continue its push into the Upper Midwest later this year. In fall, the company plans to open a “digital business innovation center” in downtown Fargo, North Dakota.

The news comes as the company restructures its global team. In late June, Doosan Bobcat announced the appointment of Mike Ballweber as president of the firm’s North American division. He’s based out of West Fargo, North Dakota, which is Doosan Bobcat’s North American headquarters.

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