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l WATERLOO comm - Wednesday, lariuary 29. 20“ - s BlackBerry property sale signals a change for local market Brim lusoN million square feet of space in Waterloo own real estate but lease it, and BlackBerry 7, ,_ Chmm'deswff (irfludi the Northfield Campus on Uni- appears to be following that trend, which verslty “true and the University Campus offers the company more flexibility, said lackBerry’s decision to sell all of its on Columbia Street, Phillip Street and Westâ€" Benninger. B real estate in Waterloo may actually mount Road). Cambridge. Mississauga and Mayor Brenda Halloran called the deci- ' be good for the market, according to Ottawa. ' sion a shock initially, but said the city is very one local realtor. The company has offered no indication supportive of the company and said the Peter Benninger of Coldwell Banker Peter of what the price may be. but in December newly available land will fill a need in the Benninger Realty said the decision clears up the University of Waterloo purchased five community. a lot of uncertainty in the local market and office buildings and a combined 300,000 “One of the challenges we have in the city will open up many new opportunities for square feet of space from BlackBerry for $41 is not enough office space," she said. “This is local businesses and tech stanups. million. TWO of those buildings will be leased good quality real estate, which is hard to "It is positive that a decision has finally back to the company for up to five years. come by. and there has been significant been made as to what they're going to do in Benninger said the bidding process, interest. terms of their property," said Benninger. expected to begin next month. should be Since September, the company has shed “lhere's been a lot of discussion over the last competitive. more than 900 jobs and is aiming to shrink number of months and we've all been wait- “l don't think we'll see the bottom drop its workforce to about 7,000 later this year. ing on that decision. out.” he said. “They d! hold good value." "It stalls things. to a certain degree.~ That value could be in the booming tech , last "litesday, BlackBerry announced it incubator culture coming from Waterloo , ~ ' would be divesting the majority of its real and Kitchener. The infrastructure inside the if estate holdings in Canada in partnership buildings is ideally suited for another tech / . " ‘ , , , ~ \ ‘ , {I ; _. . with (iBRl-i Limited and leasing some of it company to move in and take advantage, 5 ( z ‘ » v" _' f' 4 ’ I . Q 5 3 ‘= . back. but added the company is committed Benninger said. _ ' to keeping its headquarters here in Waterloo. "BlackBerry has impressive, firstâ€"class ! “This initiative will further enhance standards," he said. . ' z- lilackBerry's financial flexibility and will proâ€" He also said there has been great interest 1 F l ' .. " vide additional resources to support our locally and abroad in the holdings but said it 6 operations as our business continues to won't be resolved overnight. The sale is an evolve." said HIacchrry (ll-It) and lixtwutivc indication that BIackBerry is changing its fl ' f M I D -WI "TE R (ihair lohri (Ilicri iii a release. philosophy in how it does business. ? ‘ lhe portiolio includes more than three Many similar businesses do not own their » ‘ o o o as, MPP Fife chides Tones over stance ' ‘ CI EA“ BY BOBVRMNM. Fife said she hoped that all that pre~elec- 7 .... fl'fZ'WWSM/L _ W” 7 non talk wouldn't detract from some real concerns being expressed in the budget con» aterloo Ml’l’ (itithcrinc life said the stiltiitioris over things like increasing the WNM’ party is amounted to prubudg minimum wage and establishing a living ct deliberations and will at least read wage that closes the income gap for people. the liberals spntig budget before mmmrtting to “ lhe status qtio is not good enough." said whether they can support the document and life, as her party looks to address income avoid a [NASllllt’t‘thTKiF disparity and secs the minimum wage as , lhat's more than can be said for the (lonâ€" one of the tools iii addressing it. "lhere is a scrvativc Party and its leader, lint lludak, cost to poverty and more and more of it who used the first day of budget consultaâ€" playing otit iii the cost to our healthcare SAVINGS . lions iii kitt honor to launch his new jobs system and education system." platform promising to create a million jobs She said recently doctors and nurses have in Ontario over the next decade. life said the come forward to say that there is a need for a U P Conservative Party is once again vowing to livable wage because they've seen the corise» vote against the budget before even seeing quences of tough economic times on the , the final document. social safety not. To "We've made a commitment to read the “You have people who are working full» budget," said lifc, who was taking part in time and are still llntlt'l the low income llt‘r first set ol prt- budget deliberations as measure.” said life. "With every dollar that part of the finance committee holding pubâ€" you invest in a livable wage it turns itito an ll(' iiiptit sessions throughout Ontario the economic driver in the local and broader last two weeks “And as the finance commit- community " lt‘t‘ travels around the province, we've made The local stop also heard important sub 0” (ll‘flJHlllllllL‘Ll llltfl'ClltHltlE'J- .i tilllillllllllt‘lll to listen and incorporate missions from the (Lity of Kitchener and the Mid ’»‘,‘l"(.ll.‘(l “(le l‘llillé. !' those ideas iii the budget going forward and Greater KW (.hamber of (nmmerce on the Ill our platform " . _ importance of better funding for (K) Iransit in“. llerC ll) lllilklf ”it ”w l Ift‘ said every time she heard the million buds-fiastructure |obs mantra littered by lliidak she said she -"l'hey both want to cnsurc that funding l")! now llltf'l.llfllltli’ ‘ toultln't stop thinking of comedian Mike for accessible. affordable trans“ options are Willi/ill” (lillly Myers t liarat'ter of Dr l-IViI in the Austin in there." said Fife "Kitchener has an cxr t‘l ' ' l'owt-r lllllVll‘ series. and his affinity for the lent plan to improve rail service with foam _ ‘ - same number She said he was Simply to and all of Waterloo Region, and thct‘vc HUI/y I” fU/ 805150/00t’0" on a mg iii olitical theatre. and laying tnadeastrong economic case forit “ , » fl "If"!!! ”in“! ,, [nagkpghelipvvzs mm b as the mtme [sharac lobs and iob ( reation was also a mayor ‘ “A” pntts. ' tor focus dtiring proâ€"budget deliberations. and "We have stit ct‘ssftilly criticiu‘d that plan life said there arr- specifit examples of what ‘ as plll’t‘ political grandstanding." sold Fife isand isn't working from pobtrt-ators about the latk of details in lludak's plan “What made it valuable is that these are "Within that context we've talked broadly businesses that are saying these specific tax about the conditions that need to inspire credits have worked for its.~ said life. about N oriomit incentives and investment maintaining those programs in the upcom- “Wc are really going to present ourselves ing budget, “We need them to be part of the ‘ _ . g c '. as the balarit ed middle going forward " budget going forward."