Nokia sold its Peltola campus in Oulu (Finland) to Technopolis for $42.4 Million

Nokia has sold its Peltola campus in Oulu, Finland to the domestic business space provider Technopolis for €31.7 million (roughly $42.4 million). This deal will give Technopolis approximately 37,600 square meters of office space and 800 parking spaces. However, just like it did in its Espoo deal, Nokia will keep using approximately 17,400 square meters of the office space on long-term rent, so their occupancy in Oulu is not affected by the sale and their operations will also continue there as today.

There are always two ways of looking at things. Some people think that Nokia is going under by selling its properties, others do think getting rid of non essential may rejuvenate the company. Nokia sold its main office and leased it back to turn the company profitable again. Now Nokia is selling another property and leased some of it back again. In short term, selling properties and leased them back is more profitable. In the long run, leasing is more costly than owning. It’s all depends on what Nokia’s priorities are. What’s your opinion after watching the same decisions taking place several times from Nokia’s end?