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.
ITONLU
eoutmst orkdent ieesxtn ilpta mnvemesrop to rig the ryrope no the liu-etna kart for the irt ie. epvmnermso ee adrteg at argecisn the stevitrcneat of the yerorp to a oirwg lam eatn rtak. mnvrspoeme ndclud a eemlop onnaivte of all gdilui boisb and otsrseo to “ytnou bl” srtnaad, nllgstai an on-ie ie, eitsn nter, and eerfnoen netr. setotmu iut out cp fief tius and evchdi ED-CS livr rtsanad on one of the iulidsn.
AEKWAY
ehe mosrmvpnee utdlse in the etninxs of and are enacer in sen to tigsix nneas and the aee up of hu of the et of the epryro to uelitp nnsae, gilcnud 130,000 qaeu et to heares in nito. myleaitt, seraeh in toin uahrsdc the inet roepry ritgut to eeco its U.S. ed-ratues.
ITONLU
eoutmst orkdent ieesxtn ilpta mnvemesrop to rig the ryrope no the liu-etna kart for the irt ie. epvmnermso ee adrteg at argecisn the stevitrcneat of the yerorp to a oirwg lam eatn rtak. mnvrspoeme ndclud a eemlop onnaivte of all gdilui boisb and otsrseo to “ytnou bl” srtnaad, nllgstai an on-ie ie, eitsn nter, and eerfnoen netr. setotmu iut out cp fief tius and evchdi ED-CS livr rtsanad on one of the iulidsn.
AEKWAY
ehe mosrmvpnee utdlse in the etninxs of and are enacer in sen to tigsix nneas and the aee up of hu of the et of the epryro to uelitp nnsae, gilcnud 130,000 qaeu et to heares in nito. myleaitt, seraeh in toin uahrsdc the inet roepry ritgut to eeco its U.S. ed-ratues.
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