California firm buys Zebra HQ building
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.