BlackBerry sells majority of its real estate holdings in Canada

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BlackBerry announced that it has entered into an agreement to sell the “majority of its real estate holdings in Canada.” The buyer is unknown, with the total space above 3 million square feet, including vacant land. The deal is expected to close in Q1 2015 and BlackBerry will keep its headquarters in Waterloo and lease back a portion of the space.

John Chen, BlackBerry’s CEO and Executive Chair said, “the successful sale of property in Canada will help us move toward our goal of continued operational efficiency. As previously stated, BlackBerry remains committed to having a strong presence in Canada and we continue to consider Waterloo home to our global headquarters.”

There was no indication of how much money BlackBerry will receive, but a previous real estate deal between BlackBerry and the University of Waterloo was for $41 million, and included 300,000 square feet of building space and 1,000 parking spots.

According to real estate brokerage firm CBRE, the deal comprises of buildings and vacant land owned by BlackBerry in Cambridge, Mississauga, Ottawa and Waterloo. The company previously stated that, “In all, three million square feet of office and warehouse space, is up for sale, along with 37.5 acres of vacant land.” Below is an interactive map of BlackBerry’s Canadian holdings.

Source: Marketwired