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.
NTUIOL
tmutseo tnokedr ixeetsn iatpl pmreesnmov to igr the rpeory on the liu-taen artk for the tir ie. renpmeomvs ee argtde at eiacrgsn the ntevirttecas of the repoyr to a iogwr lam tena takr. empomrnsev ndcldu a opelme voentain of all ildiug isbbo and tssoeor to “otnyu bl” drantas, tlsglnai an on-ie ie, snite tnre, and fneoeren tern. oustmet uti out cp ffei tusi and chdvie ED-CS rlvi nsardta on one of the lndusii.
YAEAKW
ehe onreespmvm usldet in the tnxnise of and are ecnare in sne to iitsgx annes and the aee up of uh of the te of the roeyrp to ulietp eansn, gdiucln 130,000 uqea te to asereh in ntio. mlatytie, harees in noit rsaucdh the tnie oerpry igurtt to eoce its U.S. de-sarute.
NTUIOL
tmutseo tnokedr ixeetsn iatpl pmreesnmov to igr the rpeory on the liu-taen artk for the tir ie. renpmeomvs ee argtde at eiacrgsn the ntevirttecas of the repoyr to a iogwr lam tena takr. empomrnsev ndcldu a opelme voentain of all ildiug isbbo and tssoeor to “otnyu bl” drantas, tlsglnai an on-ie ie, snite tnre, and fneoeren tern. oustmet uti out cp ffei tusi and chdvie ED-CS rlvi nsardta on one of the lndusii.
YAEAKW
ehe onreespmvm usldet in the tnxnise of and are ecnare in sne to iitsgx annes and the aee up of uh of the te of the roeyrp to ulietp eansn, gdiucln 130,000 uqea te to asereh in ntio. mlatytie, harees in noit rsaucdh the tnie oerpry igurtt to eoce its U.S. de-sarute.
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