University of Waterloo buys five buildings and land from BlackBerry’s HQ campus

University of Waterloo buys five buildings and land from BlackBerry’s HQ campus
BlackBerry’s corporate campus resides next to the University of Waterloo and the latter has agreed to buy five buildings from BlackBerry along with the land they occupy and associated parking access for $41 million.

The deal will close on February 14th, Valentine’s Day, which is probably a coincidence, but also apropos given the close working relationship BlackBerry and the university have had since BlackBerry founder Mike Lazaridis attended school there.

Once the deal closes, the University of Waterloo will begin using three of the five buildings immediately. The other two will be leased back to BlackBerry for five years. The college is growing and obviously finds value in expanding without having to create annoying “satellite campuses.” BlackBerry, as we all know, is currently shrinking in size, and while its workforce gets cut, there is no foreseeable need for that infrastructure, real estate and associated expenses.

sources: Financial Post via CrackBerry.com

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2 Comments

1. KFear

Posts: 170; Member since: Feb 06, 2012

Not so sure why this didn't happen sooner. They planned to narrow their market perspective awhile ago and they continue to cut jobs. Let's see what the new CEO can fire up. Here is a hint....you NEED a better app infrastructure and you need a world of integration. If blackberry thinks that they need to just make phones, they will fry. They need to create a world that has paths that are intuitive and easy to follow

2. Paximos

Posts: 283; Member since: Jul 26, 2012

And a customer service that does not suck. I have been an online shopper since 2001 and they are THE WORST company I have dealt with in all these years. In addition to all they would need to make a come back!!!!, they also need discipline and last but not least to adhere to what they post on their website when it comes to purchasing/return policy!!!...The heck with blackberry.

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