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.
ONTLUI
tmsuoet dtrkoen etiensx latpi ovnpermems to irg the rpyroe no the lui-neat aktr for the tri ie. vrmepnsome ee etgrad at sireacng the ctsetvernati of the prreyo to a iogrw aml enta trak. vermnpemos ucnldd a pelmoe ntivenao of all ldiigu osibb and resstoo to “utoyn lb” sanrdta, llnigast an on-ei ie, eisnt netr, and enfeoern netr. umsetto itu out cp fief tisu and hedivc DE-CS rlvi asdntra on one of the iulsdni.
AYKWAE
hee rsepmenovm stldue in the nixtesn of and are nrcaee in esn to gitsxi ensna and the eea up of hu of the et of the oyprer to eilptu ennas, ngdluic 130,000 auqe te to areseh in tino. tatmeliy, rehase in into hdrcsua the inet peoryr igrtut to eoec its U.S. ed-aetusr.
ONTLUI
tmsuoet dtrkoen etiensx latpi ovnpermems to irg the rpyroe no the lui-neat aktr for the tri ie. vrmepnsome ee etgrad at sireacng the ctsetvernati of the prreyo to a iogrw aml enta trak. vermnpemos ucnldd a pelmoe ntivenao of all ldiigu osibb and resstoo to “utoyn lb” sanrdta, llnigast an on-ei ie, eisnt netr, and enfeoern netr. umsetto itu out cp fief tisu and hedivc DE-CS rlvi asdntra on one of the iulsdni.
AYKWAE
hee rsepmenovm stldue in the nixtesn of and are nrcaee in esn to gitsxi ensna and the eea up of hu of the et of the oyprer to eilptu ennas, ngdluic 130,000 auqe te to areseh in tino. tatmeliy, rehase in into hdrcsua the inet peoryr igrtut to eoec its U.S. ed-aetusr.
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