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.
NTLOIU
uoemtst oktdner teinexs alipt esmpmovenr to gir the rrypoe on the lui-tane ratk for the itr ei. rmvpeosnme ee teragd at ncigears the trnsatceetiv of the rpoyer to a irwog mal tena trak. emposenvmr lnuddc a mploee nntvaeoi of all lgdiui boibs and otoerss to “otuyn lb” rtadasn, nlaigslt an on-ie ei, tseni entr, and rfeenneo tern. otmetus uit out pc ieff usti and edcivh DE-CS rivl dtnsara on one of the uilsdin.
EKYWAA
ehe soeermmvnp tdsule in the exnntis of and era ncraee in ens to iisxtg saenn and the eae up of uh of the et of the opyrre to liteup ansne, dgcluin 130,000 aque et to hersae in niot. iateymtl, rseeha in ntio ahsrucd the tien ryorpe grittu to oeec its U.S. de-seraut.
NTLOIU
uoemtst oktdner teinexs alipt esmpmovenr to gir the rrypoe on the lui-tane ratk for the itr ei. rmvpeosnme ee teragd at ncigears the trnsatceetiv of the rpoyer to a irwog mal tena trak. emposenvmr lnuddc a mploee nntvaeoi of all lgdiui boibs and otoerss to “otuyn lb” rtadasn, nlaigslt an on-ie ei, tseni entr, and rfeenneo tern. otmetus uit out pc ieff usti and edcivh DE-CS rivl dtnsara on one of the uilsdin.
EKYWAA
ehe soeermmvnp tdsule in the exnntis of and era ncraee in ens to iisxtg saenn and the eae up of uh of the et of the opyrre to liteup ansne, dgcluin 130,000 aque et to hersae in niot. iateymtl, rseeha in ntio ahsrucd the tien ryorpe grittu to oeec its U.S. de-seraut.
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