For the year ended December 31, 2015, Zebra reported $3.65 billion in revenue and $111 million in operating cash flow.

Founded in 1969, Zebra employs in excess of 7,000 people throughout 120 facilities worldwide. Zebra is a publicly-traded global leader in enterprise asset intelligence, designing and marketing specialty printers, mobile computing, data capture, radio frequency identification products and real-time locating systems. The improvements, coupled with attractive increases in the rental stream, and the capacity to accommodate future expansion of Zebra’s business contributed to making this an excellent investment for the REIT.”ĭon Pescara, Griffin Capital’s Managing Director of Acquisitions, added, “We are pleased to buy Zebra’s Corporate Headquarters as it meets our criteria of investing in institutional-quality, income-generating properties leased on a long-term basis to established corporate tenants.” The Seller was represented by James Postweiler, Peter Harwood, Brian Shanfeld and Dan Fernitz of the Chicago office of JLL.Ĭommenting on the acquisition, Shawn Carstens, Griffin Capital’s Vice President of Acquisitions, said, “In creating this headquarters building, Zebra consolidated personnel from two other locations and made a major capital investment in the property. The REIT purchased the Property for $60.1 million from The Northwestern Mutual Life Insurance Company (the “Seller”). Renovations included the addition of a customer solutions center to provide a hands-on showroom for Zebra’s products, a redesigned and upgraded full-service cafeteria, new electronic laboratory spaces for testing and development, and new, redesigned modern office areas with collaboration spaces and various break-out seating areas. Originally constructed in 1991, the Property underwent a complete renovation in 2015 in order to transform the building into a world-class headquarters for Zebra. (the “REIT”), the acquisition of a five-story, Class A office building totaling approximately 283,000 square feet fully occupied by Zebra Technologies Corporation (NASDAQ: ZBRA) (“Zebra”), pursuant to a long-term triple-net lease expiring November 2026 (the “Property”).

04, 2016 (GLOBE NEWSWIRE) - Griffin Capital Corporation (“Griffin Capital”) announced today, on behalf of Griffin Capital Essential Asset REIT II, Inc. Griffin Capital Essential Asset REIT II Acquires Zebra Technologies’ Corporate Headquarters in Lincolnshire, IllinoisĮL SEGUNDO, Calif., Aug.

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