Stratasys moving HQ to Minnetonka, leasing space from UnitedHealth

As the post-pandemic office market continues to shift, Stratasys is relocating its U.S. headquarters to Minnetonka where it will lease space from UnitedHealth Group.

The 3D printer manufacturer will take up vacant space at 5995 Opus Parkway, close to the Interstate 169 and Highway 62 interchange. Rich Garrity, chief industrial business officer for Stratasys, said the company looked at many buildings in the west metro, but this building offered a modernized workspace that will help foster creativity, collaboration and productivity.

“We are going to make some significant investments into that building. We’re adding a heavy-duty freight elevator, for example, to the outside of that building so we can get our larger printers onto different floors throughout that space,” Garrity said.

Stratasys will start moving to the property in January 2025. Combined with a smaller adjacent building at 10201 East Bren Road, the company will be leasing approximately 200,000 square feet, Garrity said.

“We plan to be adding jobs in the campus over the coming years,” Garrity said.

UnitedHealth made the decision to relocate its headquarters from Minnetonka to an Eden Prairie campus alongside its Optum division in 2023. A UnitedHealth representative declined to comment.

Stratasys now has space in four Eden Prairie buildings, two of which it owns. Garrity said Stratasys will retain manufacturing operations in a 92,000-square-foot building on Shady Oak Road there. According to the Stratasys annual report, it occupies a total of 308,646 square feet in Eden Prairie.

Last year was dramatic amid industry consolidation. Stratasys rejected multiple unsolicited takeover offers, and shareholders also voted down the company’s proposed acquisition of Massachusetts-based Desktop Metal, a smaller competitor.

Stratasys reported first quarter revenue of $144.1 million, a decline of 3.6% from a year ago. The company posted a $26 million loss.