BlackBerry says it intends to sell off most of its commercial property holdings in Canada, but will keep its headquarters in Waterloo, Ont., according to a report from CBC News.
Of the properties put up for sale, around 78 per cent are located within Waterloo Region, as per a promotional pamphlet released by the company. The smartphone manufacturer plans to use a combination of vacant sales and sale-leaseback arrangements in order to divest their holdings.
Additionally, the pamphlet indicated that more than 2.2 million square feet of real estate in Waterloo would eventually be sold, which it says is “historically renowned as BlackBerry’s home base and the epicentre of much of the technological innovation developed by BlackBerry over the past 30 years.”
BlackBerry did not put a valuation on the properties, but said those being offered for sale make up more than 3 million square feet worth of space.
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