Avaya will stay put in Belleville.
We have learned that terms and conditions have been agreed upon between the company and the owner of 250 Sidney Street, Toronto Capital.
We are being told that Avaya will downsize from the current 55,000 square feet to about 11,500 square feet.
A final lease has yet to be signed between Toronto Capital and Avaya, but we are being told that Avaya has sent an email agreeing to terms.
In mid-December, we told you that Avaya would be moving their employees (68) to other Avaya locations, and some employees would work remotely from home. CLICK HERE FOR THAT STORY
Here is the official statement from Avaya: “Avaya was able to successfully negotiate to maintain an office in Belleville. We have secured an appropriate space to accommodate our team here, and plan to transition to this new space in June. Avaya will have over 40 employees at this location.”
Sanella adds that of the 350,000 square feet at the former Nortel site, about half is still available. He says they are not just looking at companies with a large footprint, but tenants who will take a few thousand square feet too.
He says a small clothing manufacturer is close to signing a deal to take between 7,000 and 10,000 square feet.
The agreement between Toronto Capital and Avaya, will be a 5 year closed deal, with a mutual option for another 5 year deal.
