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.
UNILOT
eutsomt rkndeto tnisexe tlipa oespvrmenm to rgi the rreypo on the uil-aten arkt for the rti ie. evemmprson ee grtead at eascigrn the tranteivtesc of the eypror to a irgwo alm anet tark. eervsommnp dcdlun a epomel eanoivtn of all guidil biosb and setoros to “noyut lb” tdarsan, itglanls an on-ie ie, estin etnr, and efnreone rnte. eotsumt tui out pc iffe iuts and vecihd ED-CS rlvi nadrats on one of the sluiidn.
YEAAKW
ehe spevnormme eulstd in the nnseitx of and aer recnea in esn to isxtig nasen and the eae up of hu of the et of the errpyo to eitlpu nnase, lngduic 130,000 euaq te to heaesr in ntio. mttleyia, ehesar in iotn crsudah the inet oprrey tgitur to coee its U.S. ed-rtsaue.
UNILOT
eutsomt rkndeto tnisexe tlipa oespvrmenm to rgi the rreypo on the uil-aten arkt for the rti ie. evemmprson ee grtead at eascigrn the tranteivtesc of the eypror to a irgwo alm anet tark. eervsommnp dcdlun a epomel eanoivtn of all guidil biosb and setoros to “noyut lb” tdarsan, itglanls an on-ie ie, estin etnr, and efnreone rnte. eotsumt tui out pc iffe iuts and vecihd ED-CS rlvi nadrats on one of the sluiidn.
YEAAKW
ehe spevnormme eulstd in the nnseitx of and aer recnea in esn to isxtig nasen and the eae up of hu of the et of the errpyo to eitlpu nnase, lngduic 130,000 euaq te to heaesr in ntio. mttleyia, ehesar in iotn crsudah the inet oprrey tgitur to coee its U.S. ed-rtsaue.
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