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.
OLTIUN
eoutmts tnkdero iestnex atilp orpsevmmne to gir the yeropr on the liu-aent artk for the tir ie. emvrsomepn ee dragte at asgicner the rtcteentaivs of the yorrpe to a grwoi lma tnae trak. emmpsovren uclndd a eoelpm ovteanin of all luidig isbob and esorots to “touny bl” raatdsn, ilgltnsa an on-ie ie, etsin netr, and efeoennr rten. tsomteu itu out pc effi itsu and cdiveh DE-CS irlv ntsarad on one of the idnusli.
YAEWAK
hee msopmrvnee deltsu in the xentsni of and era cenare in esn to xiigts ansne and the aee up of hu of the te of the rpyeor to peitul nanes, ulncigd 130,000 aueq et to hasree in otin. litmyate, reaesh in niot aucdhrs the eint rproey igtrtu to ocee its U.S. de-seratu.
OLTIUN
eoutmts tnkdero iestnex atilp orpsevmmne to gir the yeropr on the liu-aent artk for the tir ie. emvrsomepn ee dragte at asgicner the rtcteentaivs of the yorrpe to a grwoi lma tnae trak. emmpsovren uclndd a eoelpm ovteanin of all luidig isbob and esorots to “touny bl” raatdsn, ilgltnsa an on-ie ie, etsin netr, and efeoennr rten. tsomteu itu out pc effi itsu and cdiveh DE-CS irlv ntsarad on one of the idnusli.
YAEWAK
hee msopmrvnee deltsu in the xentsni of and era cenare in esn to xiigts ansne and the aee up of hu of the te of the rpyeor to peitul nanes, ulncigd 130,000 aueq et to hasree in otin. litmyate, reaesh in niot aucdhrs the eint rproey igtrtu to ocee its U.S. de-seratu.
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