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.
NLOUTI
esuttom dotrkne eenstxi ilpta emmevsonpr to irg the eopyrr no the lui-ntae ratk for the tri ei. romnsevpem ee tredga at acigesrn the naitversttec of the repryo to a igowr aml ntae trak. sromenvpem dldcun a oelpem ovnnetia of all lduiig osbib and ooersst to “uyont bl” adarstn, tgnlisal an on-ie ei, snite rten, and neerfnoe tern. oetmust uit out cp ffie tusi and veidch DE-CS ilvr tdrsana on one of the ilidsun.
AEWKAY
ehe seprmomevn ldtues in the xenstni of and aer anecer in nes to gsitix nneas and the aee up of hu of the te of the ryrepo to lpieut ansen, dlguinc 130,000 uaeq et to ehersa in itno. ettimyla, esahre in tion adsuchr the iten preoyr irttug to eeoc its U.S. ed-utsrea.
NLOUTI
esuttom dotrkne eenstxi ilpta emmevsonpr to irg the eopyrr no the lui-ntae ratk for the tri ei. romnsevpem ee tredga at acigesrn the naitversttec of the repryo to a igowr aml ntae trak. sromenvpem dldcun a oelpem ovnnetia of all lduiig osbib and ooersst to “uyont bl” adarstn, tgnlisal an on-ie ei, snite rten, and neerfnoe tern. oetmust uit out cp ffie tusi and veidch DE-CS ilvr tdrsana on one of the ilidsun.
AEWKAY
ehe seprmomevn ldtues in the xenstni of and aer anecer in nes to gsitix nneas and the aee up of hu of the te of the ryrepo to lpieut ansen, dlguinc 130,000 uaeq et to ehersa in itno. ettimyla, esahre in tion adsuchr the iten preoyr irttug to eeoc its U.S. ed-utsrea.
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