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updated: 8/8/2016 4:53 PM

California firm buys Zebra HQ building

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  • The experience center at Zebra Technologies's Lincolnshire headquarters is part of the building that was recently acquired for $60 million by a California investor.

    The experience center at Zebra Technologies's Lincolnshire headquarters is part of the building that was recently acquired for $60 million by a California investor.
    DAILY HERALD FILE PHOTO

 
Daily Herald Report

A California real estate investor paid $60 million for the Lincolnshire headquarters building that houses Zebra Technologies, according a report by Crain's Chicago Business.

A real estate investment trust managed by El Segundo, Calif.-based Griffin Capital Monday said it paid $60.1 million for the 283,000-square-foot property. The seller was the real estate investment arm of Milwaukee-based Northwestern Mutual Life Insurance.

Zebra, which makes bar-code tag printers, leases the entire building at 3 Overlook Point until November 2026, according to Griffin's statement announcing the deal.

The deal "meets our criteria of investing in institutional-quality, income-generating properties leased on a long-term basis to established corporate tenants," Griffin Capital Managing Director of Acquisitions Don Pescara said in the statement.

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