Yesterday, BlackBerry announced that it will look to unload some of its real estate assets. According to Seeking Alpha, the portfolio consists of 1.386 million square feet of office space in Waterloo, 0.334 million square feet of office space in Mississauga and 0.327 million square feet of office space in Ottawa (actually Kanata). There is 0.250 million square feet of office/warehouse space in Waterloo and 0.750 million square feet of office/warehouse space in Cambridge up for sale as well.
Below is a breakdown of the approximate value of each venue space:
|Location||Million Sq. Feet||Price / Sq. Foot||$ Million|
|Waterloo University – Office||0.709||$125||$88.63|
|Waterloo University – Office / Warehouse||0.250||$90||$22.50|
|Waterloo Northfield – Office||0.677||$110||$74.47|
|Cambridge – Office/Warehouse||0.750||$70||$52.50|
|Mississauga – Office||0.334||$165||$55.11|
|Ottawa – Office||0.327||$135||$44.15|
This brings the total to an estimated $362 million. Of course, this is not an accurate number to the dot, but more of an estimate. The amount of money that the company can raise is significant, and can definitely be a boost to the turnaround process that newly appointed CEO Chen has began.