"We are looking at several alternatives. One of those alternatives is a possible sale-leaseback and all of the alternatives include an ongoing presence for Polaroid in Waltham," the spokesperson says. He declined to say what other alternatives the company was exploring or discuss the asking price for the property, a landmark building which fronts Route 128.

The spokesperson denied rumors that Polaroid has accepted an offer of more than $100 million for the property from the Related Cos. of New York City, which reportedly planned to redevelop the campus. "There is no agreement yet with any party. We're still talking to people and looking at things." Polaroid, one of the largest employers in the Route 128 West submarket, has hired a consultant provided by Polaroid's parent company, Peters Group Worldwide, to negotiate. Related Cos. did not return a request for additional comment. The Boulder Co. and Leggat McCall both say they have talked with Polaroid, but would give no additional information.

In 2001, Polaroid sold off its office-and-manufacturing complex here for approximately $70 million in a joint venture deal between the Davis Cos. of Boston and Prudential Real Estate Investors. That agreement contained a provision that allowed Polaroid to share in proceeds from any additional development on the site. Polaroid originally purchased that 56-acre parcel on Winter Street in the 1960s and built four buildings totaling 536,000 sf.