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.
OITULN
oteumts dtrkeon texsine tailp nrpmsemvoe to gri the rpyreo on the lui-ntae atkr for the rit ie. erosnmmvpe ee garetd at ncgieasr the ieteacstvntr of the rproye to a igorw lam ntea ratk. pvnsrmemoe dnludc a epemol enoinvat of all iilugd sbbio and ossoter to “untoy bl” ndrsata, gsntiall an on-ie ei, istne tenr, and neorneef nert. umtsteo uti out pc feif istu and cevdih ED-CS vilr drsaatn on one of the lisdniu.
AYEKAW
hee mesopmrenv tlsedu in the stnixen of and era anrece in nes to xiisgt nnesa and the eea up of hu of the et of the yorpre to iltepu snnea, cunlidg 130,000 uaeq te to eaeshr in niot. eitmlaty, eahsre in inot rsaudch the ntie oprery rtguit to eeco its U.S. de-etrusa.
OITULN
oteumts dtrkeon texsine tailp nrpmsemvoe to gri the rpyreo on the lui-ntae atkr for the rit ie. erosnmmvpe ee garetd at ncgieasr the ieteacstvntr of the rproye to a igorw lam ntea ratk. pvnsrmemoe dnludc a epemol enoinvat of all iilugd sbbio and ossoter to “untoy bl” ndrsata, gsntiall an on-ie ei, istne tenr, and neorneef nert. umtsteo uti out pc feif istu and cevdih ED-CS vilr drsaatn on one of the lisdniu.
AYEKAW
hee mesopmrenv tlsedu in the stnixen of and era anrece in nes to xiisgt nnesa and the eea up of hu of the et of the yorpre to iltepu snnea, cunlidg 130,000 uaeq te to eaeshr in niot. eitmlaty, eahsre in inot rsaudch the ntie oprery rtguit to eeco its U.S. de-etrusa.
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