Kodak Looks to Sell Eastman Business Park Site
ROCHESTER, NY—Kodak will pursue the sale of Eastman Business Park (EBP). The company believes this 1,200-acre site can best continue its transformation into a multi-use, multi-tenant industrial facility under the ownership of a firm focused on its redevelopment. At the same time, EBP’s sale will help Kodak to maintain its focus on its commercial imaging businesses.
Jeff Clarke, CEO of Kodak, said, “Eastman Business Park is already on the path to becoming a powerful economic growth engine for our region and a vibrant center of invention to several technology sectors. A strong new owner will expedite that process. At the same time, Kodak needs to focus on what it does best: innovating and delivering superior solutions to customers around the world. Selling EBP is the right move for the right reasons at the right time.”
As the process moves forward, Kodak says it will continue to fully support the growing tenant and owner base, now numbering more than 50, including several Fortune 500 companies, and in continuing initiatives with government and economic development officials to attract new tenants.
Brad Kruchten, president, graphics, Entertainment and Commercial Films Group, also commented, “We believe that Eastman Business Park offers definitive advantages in attracting new tenants. While we’ve made extensive improvements in the park over the last several years, a number of developments have occurred in recent months that present us with the opportunity to bring in a buyer who can best support EBP in reaching its enormous potential.”