Polaroid selling Waltham property

CAMBRIDGE — Polaroid Corp. is putting 56-acre property in Waltham up for sale in an effort to improve its financial position. A company spokesman said the company had decided to sell the distinctive property designed by I.M. Pei overlooking the Cambridge Reservoir because it no longer served its purpose for the office space it provided and manufacturing done there. The spokesman said the approximately 800 employees at the Waltham site would be assigned to other Polaroid locations.

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