Terms of the sale are not being disclosed. The land could be used to create one of the largest industrial campuses in northern Colorado, says Alex Yeros, a Broe Real Estate managing director. But it is premature to estimate how many sf, the value or the number of jobs that may be brought to the land.

In 2003, Yeros helped put together a deal that brought a 450,000-sf, $119-million Owens-Illinois bottling plant to Windsor. Owens-Illinois bought the land for its plant from Broe.

The Kodak land sale will be executed in two phases. The eastern property sale comprising 657 acres will consist of three closings beginning almost immediately. Development on the property will include various uses, but will be primarily industrial, consistent with projects already under way in the area. He says that it is even possible that the land could have international appeal, noting that Broe recently sent representatives from the company to the United Kingdom and Russia.

Property on the western side of the plant comprises 743 acres. Broe is evaluating alternative uses for this property and will work closely with the Town of Windsor and surrounding communities to develop the appropriate land use plan. Closing of this second phase is expected in late 2005.

"This is a significant milestone in our commitment to growth and job creation in the North Front Range," Yeros adds. "Our development plans will have enormous regional impact, bringing substantial investment and employment to the area. We are committed to responsible land use planning that adds value to the community."

The land sale will not have any effect on current Kodak operations at the Windsor facility, where the company produces a number of photographic film and media products. The decision to sell the acreage stems from the company's broader plan, announced in January 2004, to reduce total facilities square footage by approximately one-third.

"We have been consolidating many different types of functions and operations at sites around the world to adapt to the increasing popularity of digital photography and to maintain worldwide competitiveness," says Gary Bien, site manager at Kodak Colorado division. "This sale is a direct result of those efforts."