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.
ITONUL
mstteou rtdnkeo txnseie piatl sevnmemrpo to rig the ryroep on the ilu-taen kart for the rti ie. emrspneomv ee degrta at ancgiers the eieatvrttcns of the rypero to a wogri aml naet atkr. enmrpvsoem duldcn a ploeem vnnoetai of all iidlgu bobsi and sotsore to “ntouy lb” aastdrn, ignlatsl an on-ie ei, nsite trne, and onnreeef rent. tseoumt tui out pc iffe usit and cihvde ED-CS rliv asrtnad on one of the niuldsi.
EAKAWY
hee pvoenmesmr tldues in the inxsnet of and aer aneerc in ens to igxtsi nanse and the aee up of uh of the te of the rpeoyr to utpile ansen, iucndlg 130,000 qaue et to seareh in iotn. emaltity, hraese in iotn uarhsdc the tien errpyo gutirt to coee its U.S. de-ursaet.
ITONUL
mstteou rtdnkeo txnseie piatl sevnmemrpo to rig the ryroep on the ilu-taen kart for the rti ie. emrspneomv ee degrta at ancgiers the eieatvrttcns of the rypero to a wogri aml naet atkr. enmrpvsoem duldcn a ploeem vnnoetai of all iidlgu bobsi and sotsore to “ntouy lb” aastdrn, ignlatsl an on-ie ei, nsite trne, and onnreeef rent. tseoumt tui out pc iffe usit and cihvde ED-CS rliv asrtnad on one of the niuldsi.
EAKAWY
hee pvoenmesmr tldues in the inxsnet of and aer aneerc in ens to igxtsi nanse and the aee up of uh of the te of the rpeoyr to utpile ansen, iucndlg 130,000 qaue et to seareh in iotn. emaltity, hraese in iotn uarhsdc the tien errpyo gutirt to coee its U.S. de-ursaet.
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