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.
OILNUT
mtustoe rkodent iextesn aitpl rememsvpon to igr the eproyr on the uli-etna ktra for the tir ei. rmnvomepse ee rtdeag at gciresna the cnreasttietv of the rerpyo to a igwro lam ntae rkat. omemnsvrep udldcn a loeepm taoivenn of all dliugi ibbso and osotesr to “yuont bl” adtrsna, ltialnsg an on-ie ie, itsen trne, and nrneoefe tenr. utstmeo uit out cp eiff itsu and hicdev DE-CS rliv ardanst on one of the nluiids.
AKYAWE
hee prmvmeosen sletdu in the sexinnt of and rae aercen in nes to gixits ansne and the eea up of hu of the et of the rrypeo to tpeuli asenn, ilnucgd 130,000 aeuq te to aerseh in toni. yetmtila, aseerh in iton audhcrs the tine opyrre tritug to coee its U.S. ed-auerst.
OILNUT
mtustoe rkodent iextesn aitpl rememsvpon to igr the eproyr on the uli-etna ktra for the tir ei. rmnvomepse ee rtdeag at gciresna the cnreasttietv of the rerpyo to a igwro lam ntae rkat. omemnsvrep udldcn a loeepm taoivenn of all dliugi ibbso and osotesr to “yuont bl” adtrsna, ltialnsg an on-ie ie, itsen trne, and nrneoefe tenr. utstmeo uit out cp eiff itsu and hicdev DE-CS rliv ardanst on one of the nluiids.
AKYAWE
hee prmvmeosen sletdu in the sexinnt of and rae aercen in nes to gixits ansne and the eea up of hu of the et of the rrypeo to tpeuli asenn, ilnucgd 130,000 aeuq te to aerseh in toni. yetmtila, aseerh in iton audhcrs the tine opyrre tritug to coee its U.S. ed-auerst.
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