传国防部将入住Nortel Carling Campus
http://www.ottawacitizen.com/Public+Works+pays+208M+Nortel+campus/3693483/story.html
http://www.ottawacitizen.com/Public+Works+pays+208M+Nortel+campus/3693483/story.html
OTTAWA — Nortel Networks has sold its huge campus at Carling Avenue and Moodie Drive to the federal government for $208 million.
The deal with Public Works Canada, which is to close at the end of the year, is one of the biggest real estate plays in Ottawa in recent years. Although not mentioned in Tuesday's news release, the deal is thought to pave the way for the Department of National Defence to move out of at least some of its many locations throughout Ottawa, and into the Nortel campus.
The campus is lon 370 acres of land in Ottawa's National Capital Commission greenbelt, and consists of 11 interconnected buildings totaling more than two million square feet.
The sale agreement provides for Nortel to continue to occupy parts of the Campus for varying periods of time to facilitate Nortel's continuing work on its global restructuring, including work under the transition services agreements with the various buyers of Nortel's sold businesses.
All other existing leases will be assumed by Public Works, including leases with buyers of Nortel's businesses. With respect to the lease with Ciena, the purchaser of the Optical Networking and Carrier Ethernet (MEN) business, Nortel is directed by Public Works to exercise, on closing, Nortel's early termination rights under the lease, shortening the lease from 10 years to five years.
This will result in the repayment to Ciena of $33.5 million U.S.
© Copyright (c) The Ottawa Citizen
Read more: http://www.ottawacitizen.com/Public+Works+pays+208M+Nortel+campus/3693483/story.html#ixzz12pHhiLQk
The deal with Public Works Canada, which is to close at the end of the year, is one of the biggest real estate plays in Ottawa in recent years. Although not mentioned in Tuesday's news release, the deal is thought to pave the way for the Department of National Defence to move out of at least some of its many locations throughout Ottawa, and into the Nortel campus.
The campus is lon 370 acres of land in Ottawa's National Capital Commission greenbelt, and consists of 11 interconnected buildings totaling more than two million square feet.
The sale agreement provides for Nortel to continue to occupy parts of the Campus for varying periods of time to facilitate Nortel's continuing work on its global restructuring, including work under the transition services agreements with the various buyers of Nortel's sold businesses.
All other existing leases will be assumed by Public Works, including leases with buyers of Nortel's businesses. With respect to the lease with Ciena, the purchaser of the Optical Networking and Carrier Ethernet (MEN) business, Nortel is directed by Public Works to exercise, on closing, Nortel's early termination rights under the lease, shortening the lease from 10 years to five years.
This will result in the repayment to Ciena of $33.5 million U.S.
© Copyright (c) The Ottawa Citizen
Read more: http://www.ottawacitizen.com/Public+Works+pays+208M+Nortel+campus/3693483/story.html#ixzz12pHhiLQk
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