A Chinese motorcycle manufacturer has acquired a new speculative warehouse in Plymouth, Minnesota, to serve as the company's U.S. headquarters.

Zhejiang Chunfeng Power Co., better known by its trade name Cfmoto, paid $18.143 million to acquire the building that opened this month at 5005 Nathan Lane N. The company bought the property from the project's developer, Minneapolis-based Endeavor Development, with the deal coming out to about $202 per square foot.

Cfmoto picked Plymouth in 2007 to house its U.S. headquarters, signing a lease at 3555 Holly Lane North and doubling its footprint over time to accommodate its growth. The company, which manufactures all-terrain vehicles, yachts and engines in addition to motorcycles, signed a three-year renewal last year for its 33,000-square-foot space in the building, though it has since put that space on the market for sublease, according to CoStar data.

The new 87,707-square-foot facility will support the company's future ventures, Cfmoto said on its website, and house full sales, marketing, vehicle development, design, parts and accessories, tech support and domestic shipping and receiving departments. The company's vehicle lines are manufactured in Thailand and China with plans to open a new manufacturing plant in Mexico in 2024.

Cfmoto is expected to move into its new facility on Nathan Lane in October.

Daniel Swartz of CBRE represented Endeavor Development in the sale. Brent Masica of Cushman & Wakefield represented Cfmoto.