Google’s Motorola Mobility to Sell Chicago-Area OfficesBrian Louis
Motorola Mobility Holdings Inc., the mobile-phone maker bought by Google Inc. in May, put its headquarters complex in suburban Chicago on the market after agreeing to relocate downtown.
Binswanger, a Philadelphia-based commercial-property brokerage, was hired to sell the four-building, 1.1 million-square-foot (102,000-square-meter) property in Libertyville, Illinois, according to a statement today on the real estate firm’s website.
Binswanger is marketing the 84-acre (33-hectare) campus to companies in a number of industries, including finance and education, according to the statement. The four connected buildings have office, lab and distribution space as well as a day-care center, full-service cafeteria and a gym. The asking price hasn’t been set, said Laurie Goldstein, vice president of marketing for the brokerage.
Motorola Mobility agreed in July to relocate to Vornado Realty Trust’s Merchandise Mart in Chicago. It will be the building’s largest tenant, occupying almost 600,000 square feet on the top four floors and rooftop, according to a July statement from Motorola Mobility and Chicago Mayor Rahm Emanuel.
The 4.2 million-square-foot Merchandise Mart, completed in 1930, is the world’s biggest commercial building, according to its website. Motorola Mobility plans to move to its new offices by mid-2013, it said when the deal was announced.
A telephone message left with Jennifer Erickson of Motorola Mobility wasn’t immediately returned.