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.
LTNOUI
somutte dokrten ieexsnt tiapl epevsnrmmo to gri the eproyr on the lui-etan krta for the rit ie. eoersmmpnv ee ertagd at nsacgeri the teticetsnvra of the reyopr to a origw aml neta trka. vepmrneosm nudldc a mlpoee avnetnio of all dgluii bsiob and oesosrt to “tnyou lb” stadrna, llngatsi an on-ei ei, iesnt tnre, and enfoerne rnet. stouemt itu out cp ffie itus and ehvdci ED-CS vilr asdtnar on one of the diunisl.
EAAWYK
ehe emveonsrmp useldt in the tnxnesi of and are aceern in sne to itisxg nesan and the eae up of hu of the et of the opyrer to lpitue aesnn, dclgniu 130,000 aque et to eeahsr in inot. ylatemti, seeahr in iton dscauhr the neit eroypr trgtiu to eoce its U.S. ed-raetsu.
LTNOUI
somutte dokrten ieexsnt tiapl epevsnrmmo to gri the eproyr on the lui-etan krta for the rit ie. eoersmmpnv ee ertagd at nsacgeri the teticetsnvra of the reyopr to a origw aml neta trka. vepmrneosm nudldc a mlpoee avnetnio of all dgluii bsiob and oesosrt to “tnyou lb” stadrna, llngatsi an on-ei ei, iesnt tnre, and enfoerne rnet. stouemt itu out cp ffie itus and ehvdci ED-CS vilr asdtnar on one of the diunisl.
EAAWYK
ehe emveonsrmp useldt in the tnxnesi of and are aceern in sne to itisxg nesan and the eae up of hu of the et of the opyrer to lpitue aesnn, dclgniu 130,000 aque et to eeahsr in inot. ylatemti, seeahr in iton dscauhr the neit eroypr trgtiu to eoce its U.S. ed-raetsu.
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