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Polaroid Sells Reservoir Site for $70 Mil

WALTHAM, MA-Polaroid Corp. sells its 56-acre campus here to the Davis Companies in a joint venture with Prudential Real Estate Advisors. The embattled instant photography company has been struggling to reduce its debt.

By Naomi Grossman | Updated on May 17, 2001

WALTHAM, MA-Polaroid Corp. has sold its 56-acre campus here to the Davis Companies in a joint venture with Prudential Real Estate Investors. The campus includes four buildings totaling 536,000 sf of space.

The embattled instant photography company has been struggling to reduce its debt and selling off a number of its real estate holdings in the Greater Boston area has been part of that plan. When the property here came on the market nearly six months ago, it was believed that it would go for up to $100 million.

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