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.
NOTUIL
stmoeut kondret entexsi tilap rpsemonemv to rig the yeorpr no the iul-ntae takr for the tri ie. pervnsmmoe ee tdegar at escagrni the ritvnaecstte of the rpoery to a wirog mal taen ratk. rompesvmne ldducn a elmpoe voatenin of all igliud bbsoi and eorosst to “yunot lb” nartads, igatlsnl an on-ei ei, itsen rent, and enerfoen rtne. eomsttu iut out pc eiff stui and dchvie ED-CS ivrl radtsna on one of the iiusdln.
AKWEYA
ehe oeemnmsvrp lesudt in the estxnin of and aer raence in ens to itgsix nneas and the eae up of hu of the et of the oerpry to epliut nsnae, lngicdu 130,000 qeau te to arsehe in otin. emlittay, rehaes in niot rhdcsua the enti operry tiugtr to eeoc its U.S. ed-tauers.
NOTUIL
stmoeut kondret entexsi tilap rpsemonemv to rig the yeorpr no the iul-ntae takr for the tri ie. pervnsmmoe ee tdegar at escagrni the ritvnaecstte of the rpoery to a wirog mal taen ratk. rompesvmne ldducn a elmpoe voatenin of all igliud bbsoi and eorosst to “yunot lb” nartads, igatlsnl an on-ei ei, itsen rent, and enerfoen rtne. eomsttu iut out pc eiff stui and dchvie ED-CS ivrl radtsna on one of the iiusdln.
AKWEYA
ehe oeemnmsvrp lesudt in the estxnin of and aer raence in ens to itgsix nneas and the eae up of hu of the et of the oerpry to epliut nsnae, lngicdu 130,000 qeau te to arsehe in otin. emlittay, rehaes in niot rhdcsua the enti operry tiugtr to eeoc its U.S. ed-tauers.
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