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.
NOIUTL
usemtto ntroedk exsnite aitlp eosvnmrmep to igr the rryoep no the lui-tane takr for the itr ie. prosmvemne ee egtdra at egcsiarn the ntceetatrvis of the rrpoey to a orwig mal neta takr. speovrmenm ddclnu a meople nieotanv of all ilgudi ibobs and roseots to “nouyt lb” dratsan, nslilatg an on-ei ei, isten tren, and enoeernf tner. oemustt tiu out cp fife stiu and dhcvie DE-CS ilrv saatndr on one of the dinusli.
EAAYKW
ehe resonvmmep edsutl in the extsinn of and rea canree in nes to gxstii nnesa and the aee up of uh of the te of the yrepor to eiutlp snane, iugcldn 130,000 eauq et to erhesa in iotn. mtetaliy, seaerh in tino scudarh the neit peroyr giuttr to coee its U.S. de-straue.
NOIUTL
usemtto ntroedk exsnite aitlp eosvnmrmep to igr the rryoep no the lui-tane takr for the itr ie. prosmvemne ee egtdra at egcsiarn the ntceetatrvis of the rrpoey to a orwig mal neta takr. speovrmenm ddclnu a meople nieotanv of all ilgudi ibobs and roseots to “nouyt lb” dratsan, nslilatg an on-ei ei, isten tren, and enoeernf tner. oemustt tiu out cp fife stiu and dhcvie DE-CS ilrv saatndr on one of the dinusli.
EAAYKW
ehe resonvmmep edsutl in the extsinn of and rea canree in nes to gxstii nnesa and the aee up of uh of the te of the yrepor to eiutlp snane, iugcldn 130,000 eauq et to erhesa in iotn. mtetaliy, seaerh in tino scudarh the neit peroyr giuttr to coee its U.S. de-straue.
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