Kodak puts three buildings up for sale
May 25, 2010
WINDSOR - Eastman Kodak Co. decided to list for sale three of its buildings on the Windsor campus.
In all, the offering includes 725,000 square feet in facilities, on the northern end of the property, and 320 acres of vacant land. The price has not been disclosed.
Kodak is consolidating its operations into two buildings - known as C-15 and C-29 - totaling 825,000 square feet. The facilities house color photographic paper and thermal media manufacturing. According to the listing from broker CB Richard Ellis, Kodak is also offering an opportunity to enter into a four-year leaseback on the C-15 facility.
"By consolidating into these two buildings and eliminating the costs associated with the empty buildings, we will ensure that our Colorado site remains very cost competitive and supports the long-term success of the color paper and thermal media operations, which are both important to Kodak," said Robert Gray, Windsor site manager, in a press release announcing the listings.
Kodak has been in flux for years, as the company shifted its focus from traditional to digital photography. The company came to Windsor in 1969 and at its peak during the 1980s employed 3,500. In 2007, the company spun off its health-products business Carestream Health Inc., with each company employing about 800 in Windsor immediately following the split. Carestream now employs around 450 locally.
In 2009, Kodak implemented a company-wide restructuring program that cut at least 300 employees from the site. Today, the company employs 360 in Windsor.
