Back in 2009 Research in Motion (now Blackberry) was the world leader in smartphones with over
40% market share. To accommodate rapid growth and planned long-range future success, they custom built their Mississauga office building just to our north on Tahoe Boulevard. Until recently the parking lots were full of cars and the facility was full of high tech people. The smartphone market has continued its growth; however, Blackberry now sells only about 0.5% of the world’s smartphones and has been going through significant restructuring to remain viable.
In January 2014 Blackberry announced that it was selling a majority of its Canadian real estate holdings to improve its cash flow and focus on its core business. In the City of Waterloo where Blackberry’s headquarters are located, Blackberry sold its real estate then leased back just what they needed to accommodate their downsized operations. On Tahoe Blvd. however it appears by the real estate sign outside the building that the entire facility is available for new tenants. Expect that the Blackberry signs installed so recently when the company changed its name will change again.
4701 Tahoe Blvd. is being advertised by Colliers International as office space available from 1,486.00 SF to 240,000.00 SF. so there could be multiple tenants in this facility in the future if a large enterprise doesn’t take the entire facility. Meanwhile as reported in the Rockwood Times summer issue, the construction of the new Sobeys regional headquarters is well under way at Tahoe and Eglinton.
40% market share. To accommodate rapid growth and planned long-range future success, they custom built their Mississauga office building just to our north on Tahoe Boulevard. Until recently the parking lots were full of cars and the facility was full of high tech people. The smartphone market has continued its growth; however, Blackberry now sells only about 0.5% of the world’s smartphones and has been going through significant restructuring to remain viable.
In January 2014 Blackberry announced that it was selling a majority of its Canadian real estate holdings to improve its cash flow and focus on its core business. In the City of Waterloo where Blackberry’s headquarters are located, Blackberry sold its real estate then leased back just what they needed to accommodate their downsized operations. On Tahoe Blvd. however it appears by the real estate sign outside the building that the entire facility is available for new tenants. Expect that the Blackberry signs installed so recently when the company changed its name will change again.
4701 Tahoe Blvd. is being advertised by Colliers International as office space available from 1,486.00 SF to 240,000.00 SF. so there could be multiple tenants in this facility in the future if a large enterprise doesn’t take the entire facility. Meanwhile as reported in the Rockwood Times summer issue, the construction of the new Sobeys regional headquarters is well under way at Tahoe and Eglinton.
In addition to Sobeys, another new office building is being built just north of Eglinton which is part of the first phase of the new Spectrum Square complex comprising of 134,000 sq. ft. of office space and 60,000 sq. ft. of restaurants. The overall plan for the Spectrum Square development comprises 1.3 million sq. ft. of commercial space. These commercial developments are right on the new Mississauga BRT line which will be carrying thousands of commuters to and from their new workplaces each day.
