Arctic Cat Relocating HQ To North Loop
Citing growth and the future needs of the company, Arctic Cat said Tuesday that it is moving its headquarters from a suburban office park in Plymouth to a soon-to-be converted warehouse in Minneapolis’ rapidly growing North Loop neighborhood.
Once renovations of the Western Container Building (500 N. Third Street) are completed, Arctic Cat will occupy all 55,000 square feet of the space, which is five times what they have at their current location. About 150 to 200 employees will occupy the space.
The maker of recreational vehicles appears to be the biggest Minnesota company by revenue to settle in one of the state’s hippest neighborhoods.
CEO Christopher Metz said the move puts the company closer to public transportation and other urban amenities not available in Plymouth that will help it attract new talent.
“We’re excited to enter a new era for Arctic Cat,” he said in a statement. “The Minneapolis North Loop is an historic and trendy warehouse district, making it a terrific complement for our iconic brand.”
Arctic Cat isn’t alone in moving its headquarters to a more urban location. Companies are increasingly choosing to locate—or relocate—their offices in downtown Minneapolis and St. Paul to provide employees better access to transit, food and retail options.
The North Loop has been known in recent years for its residential loft conversions and award-winning restaurants, but it’s increasingly becoming a hub for creative and technology companies. A recent study by CBRE ranked it as one of the top growing office submarkets for tech companies across the United States. The boom bodes well for Bloomington-based United Properties, which has been mulling a spec office project near Target Field and Be The Match’s new headquarters, which will open later this year.
Employees will move into the new space in 2016. Arctic Cat’s Thief River Falls and St. Cloud manufacturing locations will be unaffected.