The Manitowoc Company, a leading global manufacturer of cranes and lifting solutions, announced it will relocate its corporate headquarters from Manitowoc, Wis., to Milwaukee.

Manitowoc will lease approximately 16,000-square feet in One Park Place in the Park Plaza office park. Manitowoc has already started to transition headquarters employees with the relocation expected to be completed by the end of the first quarter, 2018 pending completion of the build-out.

“Manitowoc’s origin as a Wisconsin-based manufacturer dates to 1902,” said Barry Pennypacker, president and CEO. “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.”

The company agreed to the sale of its former headquarters in Manitowoc to Manitowoc-based Investors Community Bank, a deal expected to be complete by the end of the first quarter.