(Photo: John Spitters/ Quinte News)
The new owner of the former Nortel property in Belleville says no one is going anywhere.
Michael Sannella is with Toronto Capital, a real estate finance company in the GTA. Sannella says he owns a numbered company which purchased 250 Sidney Street, the former Nortel property (also Strathcona Energy).
Sannella says the company purchased the entire 350,000 square foot property, which backs on to Palmer Road.
He says he has talked with the current tenants, and they all intend to stay. Sannella says Avaya, the main tenant, recently underwent extensive renovations and upgrades and are happy. Meantime he tells us some other tenants plan to expand.
The owner tells Quinte News this is not the first site in Belleville he has been a part of. Twenty years ago he worked on a deal on Bell Boulevard.
He says that the property has lots of amenities that he wants the community to use.
In an exclusive to Quinte News, Sannella says part of the building could be used for higher education.
He says any talks about a university are just in initial stages and nothing has been finalized.
The talk with the unnamed school is next week.
The back entrance to the property at 250 Sidney Street (former Nortel) Property off Palmer Road (Photo: John Spitters/ Quinte News)
