Polaroid Puts Waltham Property Up For Sale

WALTHAM, MA-In an effort to take advantage of a hot real estate market, Polaroid Corp. is selling its Cambridge Reservoir site here. The 56-acre property has four buildings, designed by I. M. Pei, and has primarily been used by the company as a manufacturing facility.

While the company has struggled in recent years, Skip Colcord, senior manager for corporate communications at Polaroid, tells GlobeSt.com that the company is not selling out of economic necessity. “We felt that the value of the property was not consistent with its use,” he points out. “The ideal use for this property is as first class office space. Given the real estate market right now, this is the perfect opportunity to put this up for sale.”