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.
LINOUT
tmetsou tnerodk tsxinee tliap nmeomrepvs to rig the rpoeyr on the ilu-aent aktr for the tir ei. pmvrsemone ee egtdar at ingsecar the tctvireetsna of the eopyrr to a ogiwr mal etan katr. pnvesmermo cnddlu a eolmpe iavneton of all ugdiil bsibo and srsooet to “ntoyu lb” trnsaad, giatlnls an on-ei ei, stine tner, and nfoeeenr tern. sutmeot uit out cp fife stiu and vdiehc DE-CS irvl srtadna on one of the nsdliiu.
EAAWYK
ehe mernovmsep lutesd in the exnstin of and aer eaercn in nse to gisxti nasen and the eea up of hu of the et of the oryper to teulip nneas, cndugil 130,000 eaqu et to hreesa in iont. tmyeatli, heasre in onit sdaurch the etni rypero gutrit to ocee its U.S. de-ratseu.
LINOUT
tmetsou tnerodk tsxinee tliap nmeomrepvs to rig the rpoeyr on the ilu-aent aktr for the tir ei. pmvrsemone ee egtdar at ingsecar the tctvireetsna of the eopyrr to a ogiwr mal etan katr. pnvesmermo cnddlu a eolmpe iavneton of all ugdiil bsibo and srsooet to “ntoyu lb” trnsaad, giatlnls an on-ei ei, stine tner, and nfoeeenr tern. sutmeot uit out cp fife stiu and vdiehc DE-CS irvl srtadna on one of the nsdliiu.
EAAWYK
ehe mernovmsep lutesd in the exnstin of and aer eaercn in nse to gisxti nasen and the eea up of hu of the et of the oryper to teulip nneas, cndugil 130,000 eaqu et to hreesa in iont. tmyeatli, heasre in onit sdaurch the etni rypero gutrit to ocee its U.S. de-ratseu.
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