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.
INTUOL
setmtuo tnrodke neteisx ilpat npveemsorm to igr the rypeor on the ilu-enta tkra for the irt ei. mmevspeorn ee adtegr at ncisaegr the icenevstartt of the yeorpr to a gwroi alm neat tkra. nmsomperev ncddlu a melpeo entaoivn of all dliuig isobb and srosote to “untoy bl” rastnad, ilagntsl an on-ie ie, nsiet nter, and eonenrfe ntre. smeutot itu out pc ifef usti and vehicd DE-CS vrli raastnd on one of the ndsuili.
WAEYAK
eeh oremvnemsp sutdel in the inxntes of and ear erenca in esn to xtgiis nensa and the eea up of hu of the te of the rpyroe to eptlui snnea, cudgnil 130,000 uaeq et to saeerh in oint. yltmieat, areseh in otin hruascd the enit pryore rgitut to eeco its U.S. ed-atesur.
INTUOL
setmtuo tnrodke neteisx ilpat npveemsorm to igr the rypeor on the ilu-enta tkra for the irt ei. mmevspeorn ee adtegr at ncisaegr the icenevstartt of the yeorpr to a gwroi alm neat tkra. nmsomperev ncddlu a melpeo entaoivn of all dliuig isobb and srosote to “untoy bl” rastnad, ilagntsl an on-ie ie, nsiet nter, and eonenrfe ntre. smeutot itu out pc ifef usti and vehicd DE-CS vrli raastnd on one of the ndsuili.
WAEYAK
eeh oremvnemsp sutdel in the inxntes of and ear erenca in esn to xtgiis nensa and the eea up of hu of the te of the rpyroe to eptlui snnea, cudgnil 130,000 uaeq et to saeerh in oint. yltmieat, areseh in otin hruascd the enit pryore rgitut to eeco its U.S. ed-atesur.
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