Xerox Sells Facilities in Wilsonville

To cope with an everchanging market, Xerox has sold its 102-acre campus in Wilsonville,US, to Portland real estate investment firm ScanlanKemperBard (SKB) and Oaktreet Capital Management.

Xerox claims it will continue operating in Wilsonville, leasing back 184,000 square feet from the Portland firm. Xerox acquired the property 15 years ago from Tektronix’s color printing business at a price of $925 million.

“This is part of our long-term strategy to invest in our core business, by selling and leasing back facilities where we can earn a higher return, rather than in real estate,” Xerox spokesman Bill McKee said in an email. The company has previously sold properties in upstate New York and in Dallas.

According to Todd Gooding, SKB President, the property will be transformed into an office park. “There aren’t many places in the Portland area where you can get that kind of visibility off of I-5,” Gooding said.

Consequently, Xerox has reduced its operation scale in Wilsonville to just 700 employees, less than one third of its employees at the initial stage.

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