The price for the four-year-old, three-story structure equates to $142.15 per sf. Industry analysts say that number is on the high side, but still market-priced in an environment where owners are holding on to solid, revenue-producing properties these days until they get their price.
The 34.5-acre site is currently zoned to allow an expansion of 143,000 sf.
The average cap rate on the acquisition is 10.9%. The software and hardware engineers of Motorola's personal communications systems will use the entire premises.
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