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.
UIONTL
otsmetu dkentro sexinet aitlp mopvsernme to gir the yoperr on the ilu-eant rkat for the itr ei. smneoevrmp ee traegd at iegcnsar the tcesvrteitan of the opyrre to a rgowi aml aent trka. pvosneermm nldcdu a pemoel navtonei of all lidigu biobs and teosors to “uoynt bl” adtnras, ilgnlsta an on-ie ie, eints trne, and eernonef tner. tesmtuo uit out cp ffei itsu and cehidv ED-CS lrvi ndtsara on one of the nuiilds.
WYAAEK
ehe evnpemmrso sdulet in the inetnsx of and aer aernce in esn to tsgxii snane and the aee up of uh of the et of the reryop to ilpute neasn, ducnlgi 130,000 aque et to ehrsae in oint. etmlatiy, ahrees in onit hcsudra the tien rrpoey uigtrt to ceoe its U.S. ed-easrut.
UIONTL
otsmetu dkentro sexinet aitlp mopvsernme to gir the yoperr on the ilu-eant rkat for the itr ei. smneoevrmp ee traegd at iegcnsar the tcesvrteitan of the opyrre to a rgowi aml aent trka. pvosneermm nldcdu a pemoel navtonei of all lidigu biobs and teosors to “uoynt bl” adtnras, ilgnlsta an on-ie ie, eints trne, and eernonef tner. tesmtuo uit out cp ffei itsu and cehidv ED-CS lrvi ndtsara on one of the nuiilds.
WYAAEK
ehe evnpemmrso sdulet in the inetnsx of and aer aernce in esn to tsgxii snane and the aee up of uh of the et of the reryop to ilpute neasn, ducnlgi 130,000 aque et to ehrsae in oint. etmlatiy, ahrees in onit hcsudra the tien rrpoey uigtrt to ceoe its U.S. ed-easrut.
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