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.
LTNUOI
ttmosue rendotk isetxen pitla vsenmerpmo to rig the erropy on the uli-etna atkr for the rti ei. rompsemnev ee gterad at arscigne the tnctireesvat of the errpoy to a rgoiw lma aent rkta. rnpoemvsme nulddc a peemol nnteoiva of all igulid obsib and reoosst to “nutoy lb” aartnsd, nlstigal an on-ei ie, itnes enrt, and eerfnone etrn. totsemu uit out cp efif uits and idevhc ED-CS ivlr tanrdsa on one of the iudsinl.
EAKWAY
hee nmpsrevemo edustl in the nsentxi of and aer eranec in nse to iitxsg nasen and the eae up of hu of the te of the poryre to eltpui eanns, cgdinlu 130,000 aueq et to searhe in niot. eimyaltt, rhaese in otin ucrhsda the ntei opeyrr gurtti to oeec its U.S. de-etusar.
LTNUOI
ttmosue rendotk isetxen pitla vsenmerpmo to rig the erropy on the uli-etna atkr for the rti ei. rompsemnev ee gterad at arscigne the tnctireesvat of the errpoy to a rgoiw lma aent rkta. rnpoemvsme nulddc a peemol nnteoiva of all igulid obsib and reoosst to “nutoy lb” aartnsd, nlstigal an on-ei ie, itnes enrt, and eerfnone etrn. totsemu uit out cp efif uits and idevhc ED-CS ivlr tanrdsa on one of the iudsinl.
EAKWAY
hee nmpsrevemo edustl in the nsentxi of and aer eranec in nse to iitxsg nasen and the eae up of hu of the te of the poryre to eltpui eanns, cgdinlu 130,000 aueq et to searhe in niot. eimyaltt, rhaese in otin ucrhsda the ntei opeyrr gurtti to oeec its U.S. de-etusar.
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