Zebra Technologies Corporation | Headquarters

Property Description

The Zebra Technologies Corporate Headquarters, located at Three Overlook Point in Lincolnshire, Illinois, consists of a five-story office building containing 255,413 square feet of above-grade net rentable area, situated on a 13.5-acre site which includes a surface parking lot and a two-level structured parking deck (the “Property”). The fivestory building has a finished lower level which offers an additional 27,844 square feet of net rentable area, resulting in a total net rentable area of 283,257 square feet. 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 Technologies Corporation.

The Property is fully leased to Zebra Technologies Corporation (“Zebra” or the “Tenant”), 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. Zebra was founded in 1969 and employs over 7,000 people throughout 120 facilities worldwide.

Business Essential Attributes

As the global headquarters for Zebra, the Property houses Zebra’s executive team and approximately 1,000 employees across all corporate functions. The Property also serves as a key research and development center for Zebra. There are a variety of engineering laboratories located on portions of the second floor, third floor, fourth floor, and lower level which are used for research and development, product testing, and product repairs. The laboratories on the second, third, and fourth floors include compressed air systems and are showcased by their placement in the center of work areas visible through glass partitions. Further, the Tenant has installed a custom 16’ x 16’ anechoic chamber on the lower level which absorbs sounds and electromagnetic waves and is utilized to evaluate the performance of Zebra’s products. The Tenant also added several amenities including a Customer Solutions Center to showcase its latest products, and a state-of-the-art full-service cafeteria.

Additional Property Information

The amenity-rich, property features a two-story atrium, expansive windows, 9-foot minimum finished ceiling heights, and a sleek granite and glass exterior. The building is situated on a 13.5-acre site, which offers ample parking (4.0 spaces per 1,000 square feet) and a serene, business park setting.

Located in the Lincolnshire Corporate Center in Lincolnshire, Illinois, the Property is easily accessible via I-94/Half-Day Road (IL-22) and offers excellent access and visibility to U.S. Route 45. The Property’s location four miles northwest of the I-94/I-294 interchange provides convenient access to downtown Chicago (30 miles) and O’Hare International Airport (18 miles). The southern Lake County location makes the Property both commutable from Chicago and proximate to the affluent northern suburbs, home to many corporate decision makers. Lake County is among Chicago’s most sought after business destinations given its well-educated workforce, highly affluent demographics, and excellent amenities, which offer various retail, dining, hospitality, and entertainment options. These characteristics have attracted a number of Fortune 500 companies to the area, and Lake County’s 11 Fortune 500 headquarters are more than any other suburban Chicago submarket.

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Zebra Technologies Corporation | Headquarters

Lincolnshire, IL

PROPERTY AT A GLANCE

Property Profile
Property Type:
Five-Story Office Building
Square Footage: 283,257
Leased: 100%
Lease Expiration: November 30, 2026
Renewal Option(s):
Two, 5-year renewal options at fair market value
Avg. Rent Increase(s):
2.75% average annual base rent escalations
Tenant: Zebra Technologies Corporation 
Website: www.zebra.com
NASDAQ: ZBRA

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THIS IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. AN OFFERING IS MADE ONLY BY THE PROSPECTUS. THIS SALES AND ADVERTISING LITERATURE MUST BE READ IN CONJUNCTION WITH THE PROSPECTUS IN ORDER TO UNDERSTAND FULLY ALL OF THE IMPLICATIONS AND RISKS OF THE OFFERING OF SECURITIES TO WHICH IT RELATES. A COPY OF THE PROSPECTUS MUST BE MADE AVAILABLE TO YOU IN CONNECTION WITH THIS OFFERING. NO OFFERING IS MADE TO NEW YORK RESIDENTS EXCEPT BY A PROSPECTUS FILED WITH THE DEPARTMENT OF LAW OF THE STATE OF NEW YORK. NEITHER THE SECURITIES AND EXCHANGE COMMISSION, THE ATTORNEY GENERAL OF THE STATE OF NEW YORK NOR ANY OTHER STATE SECURITIES REGULATOR HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THE PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. AN INVESTMENT IN GRIFFIN CAPITAL ESSENTIAL ASSET REIT II, INC. INVOLVES A HIGH DEGREE OF RISK AND THERE CAN BE NO ASSURANCE THAT THE INVESTMENT OBJECTIVES OF THIS PROGRAM WILL BE ATTAINED. 

Risk Factors: An investment in Griffin Capital Essential Asset REIT II, Inc. involves a high degree of risk and there can be no assurance that the investment objectives of this program will be attained. Some of the risks associated with this offering include the following: this is a “best efforts” offering and some or all of our shares may not be sold; no public market currently exists for our shares; it may be difficult to sell your shares, and if you do, it will likely be at a substantial discount; the purchase and redemption price for shares of our common stock will be based on the NAV of each class of common stock; we must depend on our advisor to conduct our operations; we will pay substantial fees and expenses to our advisor; there are substantial conflicts of interest among us and our sponsor, advisor, dealer manager and property manager; we may use substantial debt to acquire our properties; we may fail to continue to qualify as a REIT; our share redemption program is subject to available liquidity and other significant restrictions and we may amend, suspend or terminate the share redemption program at any time; a portion of the offering proceeds may be used to redeem or repurchase our shares; and future distribution declarations are at the sole discretion of the board of directors and are not guaranteed. We may fund a portion of our distributions from offering proceeds or from borrowings in anticipation of future cash flows, some or all of which may be a return of capital. 

close

Please Accept

The Griffin Capital Essential Asset REIT II, Inc. website is available for use subject to its Terms and Conditions and our Privacy Policy. Please click on the highlighted terms to review these. To review a summary of the risk factors related to an investment in the Griffin Capital Essential Asset REIT II, Inc. program  click here.

This material must be read in conjunction with the applicable prospectus in order to understand all the implications and risks of any offering of securities to which the material relates. If you have not previously reviewed a prospectus, click here. Otherwise, to proceed, agree to the Terms and Conditions and Privacy Policy of this website.

THIS IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. AN OFFERING IS MADE ONLY BY THE PROSPECTUS. THIS SALES AND ADVERTISING LITERATURE MUST BE READ IN CONJUNCTION WITH THE PROSPECTUS IN ORDER TO UNDERSTAND FULLY ALL OF THE IMPLICATIONS AND RISKS OF THE OFFERING OF SECURITIES TO WHICH IT RELATES. A COPY OF THE PROSPECTUS MUST BE MADE AVAILABLE TO YOU IN CONNECTION WITH THIS OFFERING. NO OFFERING IS MADE TO NEW YORK RESIDENTS EXCEPT BY A PROSPECTUS FILED WITH THE DEPARTMENT OF LAW OF THE STATE OF NEW YORK. NEITHER THE SECURITIES AND EXCHANGE COMMISSION, THE ATTORNEY GENERAL OF THE STATE OF NEW YORK NOR ANY OTHER STATE SECURITIES REGULATOR HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THE PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. AN INVESTMENT IN GRIFFIN CAPITAL ESSENTIAL ASSET REIT II, INC. INVOLVES A HIGH DEGREE OF RISK AND THERE CAN BE NO ASSURANCE THAT THE INVESTMENT OBJECTIVES OF THIS PROGRAM WILL BE ATTAINED. 

Risk Factors: An investment in Griffin Capital Essential Asset REIT II, Inc. involves a high degree of risk and there can be no assurance that the investment objectives of this program will be attained. Some of the risks associated with this offering include the following: this is a “best efforts” offering and some or all of our shares may not be sold; no public market currently exists for our shares; it may be difficult to sell your shares, and if you do, it will likely be at a substantial discount; the purchase and redemption price for shares of our common stock will be based on the NAV of each class of common stock; we must depend on our advisor to conduct our operations; we will pay substantial fees and expenses to our advisor; there are substantial conflicts of interest among us and our sponsor, advisor, dealer manager and property manager; we may use substantial debt to acquire our properties; we may fail to continue to qualify as a REIT; our share redemption program is subject to available liquidity and other significant restrictions and we may amend, suspend or terminate the share redemption program at any time; a portion of the offering proceeds may be used to redeem or repurchase our shares; and future distribution declarations are at the sole discretion of the board of directors and are not guaranteed. We may fund a portion of our distributions from offering proceeds or from borrowings in anticipation of future cash flows, some or all of which may be a return of capital.