The largest suburban office lease of 2013—a $72.5 million deal—was recently recognized by NAIOP Chicago, the Commercial Real Estate Development Association, as the 2014 Broker Transaction of the Year – Suburban Office. Hinshaw & Culbertson LLP represented Zebra Technologies in the 290,000 square foot lease of its new headquarters space at 3 Overlook Point in Lincolnshire.
For the first two years of the agreement, Zebra will sub-lease the space from Aon, but after that, it will lease the space directly from Northwestern Mutual Life, the owner of the building. The lease, which combined two Zebra offices in Lincolnshire and Vernon Hills, was originally signed for 80 percent of the building, but was expanded to the full 290,000 square feet after the announcement of Zebra’s $3.45 billion acquisition of Motorola Solutions’ Enterprise business in the spring of 2014.
Stephen H. Malato, partner in Hinshaw’s Chicago office, handled the deal for Zebra, along with Zebra in-house counsel Todd Beck. Christopher Vidovic of Hagan & Vidovic LLP represented the landlord, Northwestern Mutual Life, and Dan McCarthy of Jones Lang LaSalle was the broker on the deal.
