The OEM has sold three-quarters of its site in Wilsonville, Oregon, though retains a colour printer and cartridge plant there.
The entrance to Xerox’s site in Wilsonville, Oregon
Portland Tribune reported on the sales at the Wilsonville campus, which has seen three-quarters of Xerox’ holdings sold in a deal worth $32.7 million (€30.1 million), though a third of the property will be leased back by the OEM. The property, sold to ScanlanKemperBard and Oaktree Capital Management, makes up most of the 137-acre site, and was sold on 2 December.
Xerox stated that 102 acres were sold, including three buildings that were “corporate, manufacturing and warehouse space” measuring around 625,000 square feet. Xerox kept 35 acres of the site for its colour printing operation, but is leasing back 184,000 square feet, which only amounts to a third of the land sold. The OEM had moved operations to the site in 1999 after acquiring the colour printing business of Tektronix for $925 million (€852 million), employing 2,400 people at its peak.
However, due to the “flagging demand for printers and photocopying machines”, 50 percent of the workforce has been let go in the last four years, with 1,500 staff in 2011 now down to 700. To add to this, there had been “concern for the future of the company in Wilsonville” in 2013 when Xerox sold over 100 engineers, laboratory space and product design patents to 3D printer manufacturer 3D systems for $32.5 million (€29.9 million).
Bill McKee, spokesperson for Xerox, commented: “We like to invest in our core business, rather than in real estate. We will be consolidating the employees into less space, but generally employees should notice no difference.” He also added that over the last 10 years, Xerox has “been selling properties and leasing back portions” in Connecticut at its headquarters, and in Rochester, New York and Dallas, Texas.