News Room
Kodak sells local property
By David Tyler-Rochester Democrat and Chronicle
December 9, 2004
California firm buys 150 acres in Henrietta
Eastman Kodak Co. has sold its Riverwood campus in Henrietta to a California real estate firm.
The sale price includes the 381,000-square foot building and about 150 acres, said Kodak spokesman James Blamphin. The transaction closed Friday.
Officials for the buyer, Tower Investments of Woodland Calif., did not return calls for comment.
"There were other bids, but they were unsuccessful," Blamphin said. He declined to identify the other bidders, or to say what about Tower's bid led Kodak to accept it.
Kodak announced its intentions to sell the Riverwood complex in February as part of a plan to reduce the company's worldwide real estate holdings.
The building was most recently used as offices for the company's consumer division. Kodak also used the site for training and commercial imaging work.
Henrietta Supervisor James Breese welcomed the sale, saying he was pleased that a private owner would be paying taxes on the building.
"They are a reputable developer, and I think they will come up with some creative uses for the site," he said.
Tower's Web site says the company owns properties in California, New York, Georgia, Nevada, Tennessee and Canada. Tower also owns, leases and operates 120,000 acres of cattle ranches in the United States and Canada, according to the site.