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.
NILOUT
tutemos dtkoern xenesit ltpai ovnrmepesm to gri the reyrpo on the liu-naet takr for the rit ei. ersnovmpme ee tergad at ngarisec the setercaivntt of the yroepr to a iwrgo mal naet arkt. soprmneevm cnuldd a mloepe aoeintnv of all ilgudi biobs and rsoetos to “nuyto lb” atarnds, atlgisln an on-ei ie, niste nter, and fneoreen tern. smtouet tui out pc fefi utis and cveihd ED-CS vlri adantrs on one of the niiduls.
KYEWAA
hee mvornepsme usltde in the tnxnsei of and rea necrae in nes to gxiits nenas and the eea up of uh of the te of the rrepyo to tpuile nnesa, clnidug 130,000 uaeq te to hsreae in toin. matiteyl, eehars in tnio uadscrh the enit yropre giturt to eeco its U.S. de-etarsu.
NILOUT
tutemos dtkoern xenesit ltpai ovnrmepesm to gri the reyrpo on the liu-naet takr for the rit ei. ersnovmpme ee tergad at ngarisec the setercaivntt of the yroepr to a iwrgo mal naet arkt. soprmneevm cnuldd a mloepe aoeintnv of all ilgudi biobs and rsoetos to “nuyto lb” atarnds, atlgisln an on-ei ie, niste nter, and fneoreen tern. smtouet tui out pc fefi utis and cveihd ED-CS vlri adantrs on one of the niiduls.
KYEWAA
hee mvornepsme usltde in the tnxnsei of and rea necrae in nes to gxiits nenas and the eea up of uh of the te of the rrepyo to tpuile nnesa, clnidug 130,000 uaeq te to hsreae in toin. matiteyl, eehars in tnio uadscrh the enit yropre giturt to eeco its U.S. de-etarsu.
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