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.
TNUOIL
ostteum dertnko tixnees pilat smmerponve to irg the ypreor on the lui-aent katr for the tri ei. senmevoprm ee tdraeg at argscnei the rtisevntceta of the oerpyr to a rwogi alm tena rkta. pmesveonmr dudnlc a eoempl noanivet of all udiilg obbsi and sortsoe to “noytu lb” rsanadt, lagstnil an on-ei ie, tsnei tner, and eofnerne ntre. tetosmu uit out cp fife uist and chevdi ED-CS irvl tradans on one of the diniuls.
KAWYEA
hee enrmmosevp dustel in the eitnsxn of and rae eanecr in esn to gxtisi ansen and the eea up of hu of the et of the porrey to tuielp ansne, cnudlgi 130,000 auqe te to easehr in nito. limaytte, eshear in otin duhasrc the itne rerypo tirgut to ceeo its U.S. de-rstaue.
TNUOIL
ostteum dertnko tixnees pilat smmerponve to irg the ypreor on the lui-aent katr for the tri ei. senmevoprm ee tdraeg at argscnei the rtisevntceta of the oerpyr to a rwogi alm tena rkta. pmesveonmr dudnlc a eoempl noanivet of all udiilg obbsi and sortsoe to “noytu lb” rsanadt, lagstnil an on-ei ie, tsnei tner, and eofnerne ntre. tetosmu uit out cp fife uist and chevdi ED-CS irvl tradans on one of the diniuls.
KAWYEA
hee enrmmosevp dustel in the eitnsxn of and rae eanecr in esn to gxtisi ansen and the eea up of hu of the et of the porrey to tuielp ansne, cnudlgi 130,000 auqe te to easehr in nito. limaytte, eshear in otin duhasrc the itne rerypo tirgut to ceeo its U.S. de-rstaue.
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