An affiliate of global manufacturer
CNH Industrial has purchased the former
Runzheimer International corporate headquarters office building in Waterford, according to state records.
The three-story, 66,000-square-foot office building sits on a 14-acre site at 1 Runzheimer Parkway, northwest of Highways 36 and 164 in western Racine County. State property records show that CNH Industrial Capital America LLC bought the property for $1.5 million from a Milwaukee-based entity called Runzheimer Park LLC.
A CNH spokesperson confirmed that the company purchased the property, but declined to comment further.
CNH Industrial is technically based in Amsterdam, with its principal corporate office located near London and its North America affiliate, CNH Industrial America LLC, based in Oak Brook, Illinois, near Chicago. The company and its subsidiaries make specialized machinery for the agricultural and construction industries.
CNH Industrial offers financial services under the brand name CNH Industrial Capital. CNH Industrial Capital offers financial products and services to dealers and customers.
CNH has had a presence in the Racine area for more than 180 years and still has several facilities in Racine County, including a test facility
that opened in 2023. The J.I. Case Threshing Machine Company was founded in Racine in 1842 and later became Case Co. In 1984, Case’s parent company, Tenneco, acquired International Harvester’s agricultural equipment division and merged it into Case. Fiat Group acquired Case in 1999 and merged it with New Holland to create CNH Global, which eventually became CNH Industrial.
CNH announced in 2022 that it would be vacating a 110-acre property in Burr Ridge, Illinois, a suburb of Chicago, and relocating employees to other locations, according to a press release from the Village of Burr Ridge. It's current headquarters office for CNH Industrial America LLC is listed at 711 Jorie Boulevard, Oak Brook, Illinois.
Runzheimer, an employee mobility solutions company, was founded in Chicago in 1933 and moved to the Burlington, Wisconsin area in the 1960s. Runzheimer was a business consulting firm specializing in managing vehicle fleets and other expenses.
The company built the Waterford building in 2001 as its headquarters. It originally planned to include more office buildings and a hotel in the development, but those projects never moved forward.
In 2018, Runzheimer was
acquired by a San Francisco private equity firm and merged with a similar company in Boston called
Motus.
Motus did not take ownership of Waterford real estate but instead became a tenant under a long-term lease with Runzheimer, according to a report last year by the Racine Journal Times. Motus occupied the building until the COVID-19 pandemic hit in 2020 and employees began working remotely, an arrangement that later became permanent.
The building has been vacant ever since. Motus' lease there expired in 2024, according to a real estate listing for the property from Transwestern.
More articles about CNH:
