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.
UOILNT
motteus dkneort extneis ptali mropesnmve to rgi the erpryo no the uli-aent rakt for the rti ei. neemspmrov ee etgrda at nrseacig the tsncrtatieev of the prryoe to a owigr lam taen tkar. rnsomvpmee undldc a emeolp oevniant of all giildu bobsi and sotsero to “yontu bl” atanrsd, aintgsll an on-ei ie, tensi rten, and nerneofe tner. mtuoest itu out cp feif suti and idvhec ED-CS irvl asdantr on one of the iindusl.
EYKAAW
ehe npvsmeermo sedltu in the xnsenti of and aer enrcea in sen to itgisx eansn and the eae up of hu of the te of the opeyrr to eutpil ansen, gdiculn 130,000 eauq te to eesahr in oint. ylettami, aeresh in tino cuahdrs the eint erproy tiutgr to eeoc its U.S. de-taresu.
UOILNT
motteus dkneort extneis ptali mropesnmve to rgi the erpryo no the uli-aent rakt for the rti ei. neemspmrov ee etgrda at nrseacig the tsncrtatieev of the prryoe to a owigr lam taen tkar. rnsomvpmee undldc a emeolp oevniant of all giildu bobsi and sotsero to “yontu bl” atanrsd, aintgsll an on-ei ie, tensi rten, and nerneofe tner. mtuoest itu out cp feif suti and idvhec ED-CS irvl asdantr on one of the iindusl.
EYKAAW
ehe npvsmeermo sedltu in the xnsenti of and aer enrcea in sen to itgisx eansn and the eae up of hu of the te of the opeyrr to eutpil ansen, gdiculn 130,000 eauq te to eesahr in oint. ylettami, aeresh in tino cuahdrs the eint erproy tiutgr to eeoc its U.S. de-taresu.
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