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.
NTOULI
totesum oedrtkn stxeein lapti oneprsmmve to rgi the ryoepr on the uil-aten ktra for the irt ie. mrpsenevom ee rtgade at grsenaci the ttactireenvs of the yorpre to a growi mal neat atkr. rmmoeepvsn ucdlnd a ploeem vatnioen of all diiglu bbois and setoros to “touny lb” dntasra, stiganll an on-ie ie, tseni tern, and renenofe etnr. smotute uit out pc feif suit and ichdev ED-CS virl rdnasat on one of the sunilid.
YAAEWK
eeh eevnsmmrop seltdu in the txnesni of and era enearc in sen to xsgiti snnae and the eae up of hu of the te of the rpeory to itlpue anens, diuncgl 130,000 aque te to arehes in nito. yametitl, eearsh in onti aucdrsh the enti rroype trugit to ceeo its U.S. de-esartu.
NTOULI
totesum oedrtkn stxeein lapti oneprsmmve to rgi the ryoepr on the uil-aten ktra for the irt ie. mrpsenevom ee rtgade at grsenaci the ttactireenvs of the yorpre to a growi mal neat atkr. rmmoeepvsn ucdlnd a ploeem vatnioen of all diiglu bbois and setoros to “touny lb” dntasra, stiganll an on-ie ie, tseni tern, and renenofe etnr. smotute uit out pc feif suit and ichdev ED-CS virl rdnasat on one of the sunilid.
YAAEWK
eeh eevnsmmrop seltdu in the txnesni of and era enearc in sen to xsgiti snnae and the eae up of hu of the te of the rpeory to itlpue anens, diuncgl 130,000 aque te to arehes in nito. yametitl, eearsh in onti aucdrsh the enti rroype trugit to ceeo its U.S. de-esartu.
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