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Selling NCR’s HQ could take years

Corporate home is valued at $31.4M but company said it was unsure when the building will be put on market 

The NCR Corp. headquarters building, located at 1700 South Patterson Blvd., will move its facility and 1,250 jobs to Duluth, Ga., as reported by the Atlanta Journal Constitution.

Staff photo by Ron Alvey The NCR Corp. headquarters building, located at 1700 South Patterson Blvd., will move its facility and 1,250 jobs to Duluth, Ga., as reported by the Atlanta Journal Constitution.

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By Tim Tresslar, Staff Writer Updated 2:18 AM Wednesday, June 3, 2009

As part of its exit from Dayton, NCR Corp. said Tuesday, June 2, it will sell its huge headquarters building on South Patterson Boulevard, a process that industry observers say could take at least three years. The future of other local NCR properties remains unclear, however.

The company announced the sale as part of a wider restructuring that includes moving 1,250 corporate headquarters jobs from Dayton to Duluth, a suburb of Atlanta, by the end of 2010.

Jeff Dudash, an NCR spokesman said he was unsure when the company will place the 1700 S. Patterson Blvd. campus on the selling block.

NCR’s other real estate holdings in Dayton include the NCR Country Club and Moraine Farm, but Dudash said he was unsure of the company’s plans for those properties.

Montgomery County Auditor Karl Keith said NCR’s headquarters, valued at $31.4 million, sits on nearly 54 acres and includes 1.1 million square feet of space. The NCR Country Club, located in Kettering, is valued at $11.5 million, Keith said.

Mark Fornes, president of Mark Fornes Realty, said chances are the building’s next occupant will come from somewhere within the region.

“It could be somebody we don’t even know or think about that is growing that’s already here in the region, that’s quiet, that needs space,” Fornes said.

Fornes added that he hopes NCR will choose to donate its headquarters to the University of Dayton, Miami Valley Hospital or another organization.

“That might be a remote chance,” he said. “But it would be a great gesture on their part if they would.”

In the current economy, Doug Harnish, president of Gem Public Sector Services, said the process of selling the headquarters could take up to five years with some price reductions along the way.

“I have to think that, if they don’t do something that would result in a quick transfer, like a donation, then it will be out in the marketplace for some time,” Harnish said.

The best outcome, Harnish said, is for the next owner also to be the building’s primary occupant. This would help replenish jobs taken out of the city by NCR while also filling back up the space, he said.

According to a 10-K filing with the U.S. Securities and Exchange Commission, NCR operated 211 facilities totaling 6.8 million square feet, worldwide.

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