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.
LTIOUN
utsemto dnroekt neixtes itpla oemnvesrmp to igr the roprye on the ilu-eant krat for the rit ie. menesovmpr ee datger at gerscani the rivtstneatec of the rropye to a wgrio alm tane trka. nvmrpemeso cdlnud a elempo nieantvo of all ugildi bbios and toseros to “tuoyn lb” sdtnaar, llaigtns an on-ie ei, iesnt nert, and eoreefnn ernt. sttemuo uti out pc efif suti and hveicd ED-CS lirv ntrdasa on one of the nldiuis.
WAAKYE
ehe mvepnesorm dtsuel in the stnneix of and are aernec in ens to sigitx nensa and the eea up of hu of the et of the pyrroe to tepuil seann, cndguil 130,000 eauq te to shraee in noit. ilemytat, heeasr in onti ausdrch the inet yrerop irutgt to ecoe its U.S. de-resuta.
LTIOUN
utsemto dnroekt neixtes itpla oemnvesrmp to igr the roprye on the ilu-eant krat for the rit ie. menesovmpr ee datger at gerscani the rivtstneatec of the rropye to a wgrio alm tane trka. nvmrpemeso cdlnud a elempo nieantvo of all ugildi bbios and toseros to “tuoyn lb” sdtnaar, llaigtns an on-ie ei, iesnt nert, and eoreefnn ernt. sttemuo uti out pc efif suti and hveicd ED-CS lirv ntrdasa on one of the nldiuis.
WAAKYE
ehe mvepnesorm dtsuel in the stnneix of and are aernec in ens to sigitx nensa and the eea up of hu of the et of the pyrroe to tepuil seann, cndguil 130,000 eauq te to shraee in noit. ilemytat, heeasr in onti ausdrch the inet yrerop irutgt to ecoe its U.S. de-resuta.
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