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.
LONUTI
etomust nrkdtoe xeisetn aiplt emesvomprn to gri the rpoyer on the iul-atne ktar for the rit ei. nsmemoeprv ee garted at gencsria the tceitvrsnaet of the rryope to a rwgio alm aten aktr. verspmemno dculnd a ploeme vaniento of all igdliu bsboi and eroosts to “yntou bl” astardn, llnstiag an on-ie ei, etnsi tenr, and rneenoef nrte. smeutto uti out cp effi tisu and chvdie DE-CS rivl dsntaar on one of the nulidsi.
AAKWYE
hee srpvememno deltus in the sneintx of and ear eearcn in nes to isitxg nasne and the aee up of hu of the te of the rorpey to leitpu ensan, lungidc 130,000 uaeq te to esaehr in oint. tymateil, resaeh in otin curdhas the ient ryroep trugit to ceoe its U.S. ed-usrtae.
LONUTI
etomust nrkdtoe xeisetn aiplt emesvomprn to gri the rpoyer on the iul-atne ktar for the rit ei. nsmemoeprv ee garted at gencsria the tceitvrsnaet of the rryope to a rwgio alm aten aktr. verspmemno dculnd a ploeme vaniento of all igdliu bsboi and eroosts to “yntou bl” astardn, llnstiag an on-ie ei, etnsi tenr, and rneenoef nrte. smeutto uti out cp effi tisu and chvdie DE-CS rivl dsntaar on one of the nulidsi.
AAKWYE
hee srpvememno deltus in the sneintx of and ear eearcn in nes to isitxg nasne and the aee up of hu of the te of the rorpey to leitpu ensan, lungidc 130,000 uaeq te to esaehr in oint. tymateil, resaeh in otin curdhas the ient ryroep trugit to ceoe its U.S. ed-usrtae.
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