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.
NOTIUL
tuoemst oertkdn nxsieet tiapl mprsnoemve to rgi the orryep no the uli-aent takr for the irt ei. mernpvmose ee adrgte at gaircesn the vctetsteanri of the eyprro to a wogri aml anet atrk. mvoprnemse ddlucn a peomel ietnanov of all dgiilu obbis and rseotos to “ntyou lb” nsdtaar, ltgainls an on-ei ie, seint tner, and renfnoee tnre. ustomte tiu out pc effi tius and hdevic DE-CS rvli nsrdtaa on one of the sdlunii.
EWAYKA
eeh nvpesomrme utlsde in the nnxtise of and era aernce in ens to itsxgi asnne and the eea up of uh of the et of the reypor to etilup neasn, ucdngli 130,000 eauq te to aheres in onti. ytteialm, ehears in iont adcrsuh the etin poreyr tuigtr to coee its U.S. ed-erastu.
NOTIUL
tuoemst oertkdn nxsieet tiapl mprsnoemve to rgi the orryep no the uli-aent takr for the irt ei. mernpvmose ee adrgte at gaircesn the vctetsteanri of the eyprro to a wogri aml anet atrk. mvoprnemse ddlucn a peomel ietnanov of all dgiilu obbis and rseotos to “ntyou lb” nsdtaar, ltgainls an on-ei ie, seint tner, and renfnoee tnre. ustomte tiu out pc effi tius and hdevic DE-CS rvli nsrdtaa on one of the sdlunii.
EWAYKA
eeh nvpesomrme utlsde in the nnxtise of and era aernce in ens to itsxgi asnne and the eea up of uh of the et of the reypor to etilup neasn, ucdngli 130,000 eauq te to aheres in onti. ytteialm, ehears in iont adcrsuh the etin poreyr tuigtr to coee its U.S. ed-erastu.
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