BlackBerry puts its Ontario real estate on the block

If you’re in the market for commercial real estate, particularly in the Waterloo, Ont. region, you may want to talk to BlackBerry.

The smartphone manufacturer has teamed with CBRE Ltd. to strategically divest the majority of its commercial real estate portfolio through a combination of sale-leaseback and vacant asset sales. In total, over three million square feet of space is going on the market.

“BlackBerry remains committed to being headquartered in Waterloo and having a strong presence in Canada along with other global hubs,” said BlackBerry CEO John Chen, in a statement. “This initiative will further enhance BlackBerry’s financial flexibility, and will provide additional resources to support our operations as our business continues to evolve.”

BlackBerry has declined to put a potential value on the property that is going on the market.

According to a brochure advertising the sale released by CBRE, 54 per cent of the property being listed is in Waterloo and 24 per cent in Cambridge, with the rest split between Ottawa and Montreal. Some 83 per cent of the property was built after 2000, with 67 per cent being office space and the rest office/warehouse.

BlackBerry University Campus

The University campus adjacent to the University of Waterloo is the largest block, with 13 properties totaling over two million square feet. There are also campuses in Cambridge, in the Kanata area of Ottawa and its Mississauga Airport Corporate Campus, off Eastgate Parkway.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

Jeff Jedras
Jeff Jedras
A veteran technology and business journalist, Jeff Jedras began his career in technology journalism in the late 1990s, covering the booming (and later busting) Ottawa technology sector for Silicon Valley North and the Ottawa Business Journal, as well as everything from municipal politics to real estate. He later covered the technology scene in Vancouver before joining IT World Canada in Toronto in 2005, covering enterprise IT for ComputerWorld Canada. He would go on to cover the channel as an assistant editor with CDN. His writing has appeared in the Vancouver Sun, the Ottawa Citizen and a wide range of industry trade publications.

Related Tech News

Featured Tech Jobs


CDN in your inbox

CDN delivers a critical analysis of the competitive landscape detailing both the challenges and opportunities facing solution providers. CDN's email newsletter details the most important news and commentary from the channel.