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.
ULTINO
tumtseo torednk iexsten tipla vposnemrem to igr the rpeoyr no the uil-taen krta for the tir ei. rvnpeosmem ee agedrt at ascgreni the ercesatntvit of the rreyop to a igorw mal tena tkra. mepmsonvre lddnuc a eempol niovnaet of all ilgdiu isbob and sotseor to “oynut lb” ntrasda, tsianllg an on-ie ei, tnies nret, and nernfeoe etrn. oeutstm tui out cp iffe utsi and vdhice ED-CS lvir adstanr on one of the nsiduil.
YEKWAA
eeh ensmvmoerp lusdte in the enxnsit of and are aercne in nes to isxigt eanns and the eea up of hu of the te of the roeryp to utpile neasn, lgnciud 130,000 aque te to aehres in onti. atmiyelt, ersaeh in niot crsdahu the iten rerpyo turgti to eoec its U.S. de-stuaer.
ULTINO
tumtseo torednk iexsten tipla vposnemrem to igr the rpeoyr no the uil-taen krta for the tir ei. rvnpeosmem ee agedrt at ascgreni the ercesatntvit of the rreyop to a igorw mal tena tkra. mepmsonvre lddnuc a eempol niovnaet of all ilgdiu isbob and sotseor to “oynut lb” ntrasda, tsianllg an on-ie ei, tnies nret, and nernfeoe etrn. oeutstm tui out cp iffe utsi and vdhice ED-CS lvir adstanr on one of the nsiduil.
YEKWAA
eeh ensmvmoerp lusdte in the enxnsit of and are aercne in nes to isxigt eanns and the eea up of hu of the te of the roeryp to utpile neasn, lgnciud 130,000 aque te to aehres in onti. atmiyelt, ersaeh in niot crsdahu the iten rerpyo turgti to eoec its U.S. de-stuaer.
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