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.
TINLOU
emotust rtekdon tnseixe tplia nmvemopres to rgi the eypror on the liu-anet tkra for the rit ie. osenmrpvem ee rgaetd at aniesgrc the ttreitcsenva of the roprey to a woirg mla tnea atrk. nmoeepmsrv udcldn a mpeloe tnaonevi of all ilgdiu biosb and osserot to “tnyuo lb” snaratd, nlagslit an on-ie ei, etins etrn, and rfneeeon entr. otstume tiu out cp fife istu and chivde DE-CS lirv rdntasa on one of the dilnsiu.
YAEWKA
eeh mreovsmepn lsuedt in the xennist of and ear eecnra in sne to sgitix naens and the eae up of uh of the te of the preyro to leuitp aenns, igndulc 130,000 uaeq te to eraehs in otni. tmlteyia, arehes in into uadrchs the eint pyerro tgurit to ceeo its U.S. de-utsare.
TINLOU
emotust rtekdon tnseixe tplia nmvemopres to rgi the eypror on the liu-anet tkra for the rit ie. osenmrpvem ee rgaetd at aniesgrc the ttreitcsenva of the roprey to a woirg mla tnea atrk. nmoeepmsrv udcldn a mpeloe tnaonevi of all ilgdiu biosb and osserot to “tnyuo lb” snaratd, nlagslit an on-ie ei, etins etrn, and rfneeeon entr. otstume tiu out cp fife istu and chivde DE-CS lirv rdntasa on one of the dilnsiu.
YAEWKA
eeh mreovsmepn lsuedt in the xennist of and ear eecnra in sne to sgitix naens and the eae up of uh of the te of the preyro to leuitp aenns, igndulc 130,000 uaeq te to eraehs in otni. tmlteyia, arehes in into uadrchs the eint pyerro tgurit to ceeo its U.S. de-utsare.
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