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Despite Rumors, Polaroid Insists Plan is on Target

WALTHAM, MA-While rumors abound about Polaroid's struggle to sell its office park here, Polaroid insists that negotiations are proceeding. The financially struggling company is considering selling some of its other holdings in this state.

By Naomi Grossman | Updated on March 16, 2001

WALTHAM, MA-Despite persistent rumors that Polaroid Corp.’s negotiations with a prospective buyer for its site here are in trouble, a company officials tells GlobeSt.com that the process of selling the site has not been a source of concern. The company put its office park, which is located here near the Cambridge reservoir off Route 128, up for sale this past November.

According to Skip Colcord, spokesman for Polaroid, over 12 serious offers were received and Polaroid is in the process of negotiations. “With any sort of negotiation process there is a lot of back and forth, walking away from the table and coming back to the table,” he says. “That is the nature of the beast.” Colcord is responding to allegations that a potential buyer, reportedly WP Commercial Properties although Colcord declined to identify interested buyers, walked out on a deal with Polaroid because the two sides couldn’t agree on a price.

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