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Monday, March 10, 2014

BlackBerry sells its headquarters in the US


BlackBerry sells its headquarters in the US

BlackBerry has sold the buildings that make up its headquarters base of operations for the United States in Irving, Texas. A Canadian investment company, Brookfield Property Group will be taking ownership of the 460,000 square foot facility.

BlackBerry (formally RIM) purchased the buildings back in 2009, but has since been in the process of laying off nearly half its workforce. Often when companies sell hard assets like this, they remain tenants on a lease agreement with the buyer. No word if that is the case here or not.

BlackBerry has been going through quite an adjustment the past few years. While it goes through the motions that most struggling companies go through, it continues to push forward with its BlackBerry 10 OS with recently appointed CEO John Chen at the helm.

Hard assets like property can add a lot of unnecessary overhead and with BlackBerry’s need to focus on not only staying relevant in developing markets, it needs to hold on to its enterprise and government customers too. Recent reports suggest that BlackBerry will focus its business locations based on being able to address those needs better.

source - BerryReview
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