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.
UITNLO
ouemstt nrtdkoe sniexet atipl nemmpvseor to rig the rroype on the uil-aent kart for the itr ie. msnevmoerp ee edrtga at areinscg the vieentrsttac of the oerrpy to a irgwo mal aten ktar. ormnmvesep nldduc a oeemlp ntiovena of all giliud iosbb and sotrseo to “nouyt bl” ansrdta, lgalints an on-ei ei, inset enrt, and fneeoenr entr. ottusem iut out pc effi siut and ceihdv DE-CS irlv dnsrata on one of the sldiiun.
KAYAEW
eeh vpeomremns esuldt in the sienxnt of and rea ceaenr in sen to xsgiti nanse and the eea up of uh of the et of the yroepr to uetpli nasne, ncliugd 130,000 qeau et to aeehsr in oint. yaettlmi, erhsea in tion srudach the tien reproy irgttu to ceoe its U.S. ed-traeus.
UITNLO
ouemstt nrtdkoe sniexet atipl nemmpvseor to rig the rroype on the uil-aent kart for the itr ie. msnevmoerp ee edrtga at areinscg the vieentrsttac of the oerrpy to a irgwo mal aten ktar. ormnmvesep nldduc a oeemlp ntiovena of all giliud iosbb and sotrseo to “nouyt bl” ansrdta, lgalints an on-ei ei, inset enrt, and fneeoenr entr. ottusem iut out pc effi siut and ceihdv DE-CS irlv dnsrata on one of the sldiiun.
KAYAEW
eeh vpeomremns esuldt in the sienxnt of and rea ceaenr in sen to xsgiti nanse and the eea up of uh of the et of the yroepr to uetpli nasne, ncliugd 130,000 qeau et to aeehsr in oint. yaettlmi, erhsea in tion srudach the tien reproy irgttu to ceoe its U.S. ed-traeus.
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