SOLUTION
Westmount undertook extensive capital improvements to bring the property into the multi-tenant market for the first time. Improvements were targeted at increasing the attractiveness of the property to a growing small tenant market. Improvements included a complete renovation of all building lobbies and restrooms to “country club” standards, installing an on-site deli, fitness center, and conference center. Westmount built out spec office suites and achieved LEED-CS Silver standards on one of the buildings.
TAKEAWAY
These improvements resulted in the extension of and large increase in rents to existing tenants and the lease up of much of the rest of the property to multiple tenants, including 130,000 square feet to Research in Motion. Ultimately, Research in Motion purchased the entire property outright to become its U.S. head-quarters.
LTNUIO
tmeoust doterkn tenxsie lpiat eovmnseprm to gir the rroepy on the liu-ntae kart for the rti ie. somneremvp ee dergta at rnsegiac the entresatvcit of the rroeyp to a igowr mal enta ktra. pmvrnosmee ldcndu a elemop oannteiv of all duilig oibbs and oresost to “ounty bl” tanasdr, atnligsl an on-ie ei, nseti ernt, and enfeoenr tren. mutoste iut out pc ffei itsu and hicedv DE-CS vrli dansrat on one of the dnilsiu.
AKEYWA
eeh msreoepvnm estdul in the esntinx of and era eranec in nse to xiistg annes and the eae up of uh of the et of the ypoerr to tleipu sanen, dlgcuni 130,000 aque te to hseear in otni. elamttyi, seeahr in ntio hucdars the tnei pyeorr guirtt to ceoe its U.S. ed-sauter.
LTNUIO
tmeoust doterkn tenxsie lpiat eovmnseprm to gir the rroepy on the liu-ntae kart for the rti ie. somneremvp ee dergta at rnsegiac the entresatvcit of the rroeyp to a igowr mal enta ktra. pmvrnosmee ldcndu a elemop oannteiv of all duilig oibbs and oresost to “ounty bl” tanasdr, atnligsl an on-ie ei, nseti ernt, and enfeoenr tren. mutoste iut out pc ffei itsu and hicedv DE-CS vrli dansrat on one of the dnilsiu.
AKEYWA
eeh msreoepvnm estdul in the esntinx of and era eranec in nse to xiistg annes and the eae up of uh of the et of the ypoerr to tleipu sanen, dlgcuni 130,000 aque te to hseear in otni. elamttyi, seeahr in ntio hucdars the tnei pyeorr guirtt to ceoe its U.S. ed-sauter.
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