CHICAGO-The sale by Google of its Motorola Mobility business will not impact the planned move by Motorola of 2,000 workers from Libertyville to the Merchandise Mart here.
Google, based in Mountain View, CA, confirmed on Thursday it agreed to sell Motorola Mobility to Lenovo for $2.9 million. Google back in July 2012 agreed to shift Motorola Mobility operations into a little more than 600,000 square feet of space into the Mart, a 4.2-million-square-foot facility located on Wells and Orleans streets. The move is expected to begin next month and be completed by the end of March, according to Crain's Chicago Business.
A spokesman for Lenovo said that part of the purchase deal for Motorola Mobility would be the assumption of the Mart lease.
New York-based Vornado Realty Trust owns the Mart and has a binding 15-year lease in hand. A Motorola Mobility spokesman says the company has committed $300 million for the 15-year lease as well a significant buildout project. Vornado is spending approximately $56 million for improvements to the space. See story in Crain's Chicago Business.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
