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.
IUOLNT
ettousm onetdrk exiestn itlap nsvpemremo to gir the ryoerp on the uil-aetn tkra for the tir ie. ermvosmpen ee eartdg at aecirsgn the atisettvenrc of the oeryrp to a iorgw alm enta tkra. enrspveomm dcnuld a eoempl eoanitvn of all dgluii oisbb and stseoro to “otnuy bl” adtnsar, taisnllg an on-ei ie, netis nter, and fenreone tren. tstuome itu out cp ifef usit and dvhiec ED-CS irvl saandtr on one of the ilidsnu.
EWAKYA
ehe nopremvsem tesdlu in the nstnexi of and rae cearen in esn to xigist aenns and the aee up of uh of the et of the oryper to ltiuep nneas, dnclgiu 130,000 qaue et to hseare in iton. iatelmty, eseahr in tino ashucrd the iten erpyor trgiut to eoec its U.S. de-uetsar.
IUOLNT
ettousm onetdrk exiestn itlap nsvpemremo to gir the ryoerp on the uil-aetn tkra for the tir ie. ermvosmpen ee eartdg at aecirsgn the atisettvenrc of the oeryrp to a iorgw alm enta tkra. enrspveomm dcnuld a eoempl eoanitvn of all dgluii oisbb and stseoro to “otnuy bl” adtnsar, taisnllg an on-ei ie, netis nter, and fenreone tren. tstuome itu out cp ifef usit and dvhiec ED-CS irvl saandtr on one of the ilidsnu.
EWAKYA
ehe nopremvsem tesdlu in the nstnexi of and rae cearen in esn to xigist aenns and the aee up of uh of the et of the oryper to ltiuep nneas, dnclgiu 130,000 qaue et to hseare in iton. iatelmty, eseahr in tino ashucrd the iten erpyor trgiut to eoec its U.S. de-uetsar.
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