Xerox agrees to sell its Wilsonville corporate campus for $33 million.
BY JACOB PALMER | DIGITAL NEWS EDITOR
Xerox has agreed to sell its Wilsonville corporate campus for $33 million.
ScanlanKemperBard was the buyer: The firm has spent $465 million to grow its holdings in 2015.
According to a release, Xerox was the seller and has leased back approximately 184,000 square feet. In addition, 3D Systems occupies 88,000 square feet. SKB will market the remaining 309,000 square feet for lease, including an adjacent 202,000-square-foot industrial flex building.
Of the 105 acres of land being acquired, SKB plans to entitle and sell up to 21 acres, which has yet to be developed.
(READ MORE: Portland Business Journal)
Xerox bought the campus 15 years ago for $925 million.
Initially, Xerox employed 2,400 in Wilsonville, where it developed its color printers and made printer ink. It still had 1,500 employees as recently as 2011 but has been steadily reducing the scale of its operations there and now employs just 700.
Xerox transferred more than 100 employees to an Indian contractor called HCL Technologies in 2011, and sold a portion of the Wilsonville operation to a 3-D printing company called 3D Systems in 2013. 3D Systems will continue leasing space on the property following the sale.
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Xerox has been under growing investor pressure amid deteriorating demand for its printers and copiers in a world that increasingly gets and stores information online.
(READ MORE: OregonLive.com)
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