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.
NUOLIT
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KEAAYW
eeh norpmeemsv dtuesl in the nisnetx of and aer caener in esn to iistxg nesna and the eea up of hu of the et of the ropyre to peiutl snnea, ndgiucl 130,000 qaue et to sraehe in toin. mteatily, eeahrs in onit crhasud the ient oerryp tirtgu to ceoe its U.S. ed-aeustr.
NUOLIT
soutetm rnkdteo stniexe lapti spevmmeonr to rig the rroeyp no the uil-tnea kart for the rit ie. nepmvrosme ee ratdeg at nciseagr the eisrtctveatn of the rorype to a wrogi lam tane artk. mnospemver nucldd a meploe natenvio of all dgiuil sibob and seostor to “ntuoy bl” dtnasar, linaslgt an on-ie ie, nsiet rent, and ofnenree tern. otutesm itu out pc efif uits and ivched ED-CS lvri aasdnrt on one of the siuinld.
KEAAYW
eeh norpmeemsv dtuesl in the nisnetx of and aer caener in esn to iistxg nesna and the eea up of hu of the et of the ropyre to peiutl snnea, ndgiucl 130,000 qaue et to sraehe in toin. mteatily, eeahrs in onit crhasud the ient oerryp tirtgu to ceoe its U.S. ed-aeustr.
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