Considering moving your business to a new commercial facility? Well, if you had your sights on the Mississauga, Waterloo or Ottawa regions, one of Blackberry’s commercial properties might just be right for your business.
Last week, Blackberry announced that it is planning to sell off their 19 Canadian commercial properties totalling over 3-million square feet of commercial space. What does that mean for other Canadian businesses?
Well it may change competition in the marketplace as businesses, both domestic and foreign, will now have the opportunity to increase their presence in the Canadian market place.
Companies that , at one time or other, wanted to move into the Waterloo, Mississauga or Ottawa commercial properties that Blackberry originally purchased will now have their chance to claim those properties for their own corporate expansions.
But who is going to jump at the chance? Will other educational institutions follow the example of the University of Waterloo, which bought four of the 19 commercial properties to expand their campus? Will property management companies purchase the buildings and lease the space out to small or medium-sized companies. Will other Canadian companies band together to purchase these commercial properties? Will foreign investors jump at the chance to own some of the property holdings?
Regardless of the mix of potential buyers, one thing is certain – Blackberry remains committed to maintaining its Canadian presence.
Though Blackberry is selling off their commercial properties, the company plans to lease back some of the space needed for their corporate operations. They are already leasing back space in two of the buildings that the University of Waterloo has purchased.
CBRE is handling the sale and leasing of the properties. Transactions are expected to happen between now and the spring 2014.
So, with all this in mind, I ask: Looking for a new location to expand your business?