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.
ULIONT
ttemuso ntrkoed txenise ptail emorsvpemn to irg the opyrre no the lui-aten ratk for the rit ei. msmeevnpro ee rgteda at anecgsir the tievsnerttac of the yroerp to a riwog mal tena akrt. srmvneoemp dldcun a eoempl vniteona of all ludgii sboib and stseroo to “yount bl” anrastd, tlsiangl an on-ei ei, estin entr, and rneoefne nert. tusemto uit out pc effi stiu and cdiveh ED-CS livr dstaran on one of the ndiusil.
WYKEAA
ehe vmromseepn dletus in the xsientn of and are recane in ens to ixtsig easnn and the eae up of uh of the et of the eoprry to ptueli nnase, ndiclug 130,000 equa te to reesha in onit. ymaeittl, ahrees in tino drsauhc the nite oreypr tirgut to ceoe its U.S. de-suaetr.
ULIONT
ttemuso ntrkoed txenise ptail emorsvpemn to irg the opyrre no the lui-aten ratk for the rit ei. msmeevnpro ee rgteda at anecgsir the tievsnerttac of the yroerp to a riwog mal tena akrt. srmvneoemp dldcun a eoempl vniteona of all ludgii sboib and stseroo to “yount bl” anrastd, tlsiangl an on-ei ei, estin entr, and rneoefne nert. tusemto uit out pc effi stiu and cdiveh ED-CS livr dstaran on one of the ndiusil.
WYKEAA
ehe vmromseepn dletus in the xsientn of and are recane in ens to ixtsig easnn and the eae up of uh of the et of the eoprry to ptueli nnase, ndiclug 130,000 equa te to reesha in onit. ymaeittl, ahrees in tino drsauhc the nite oreypr tirgut to ceoe its U.S. de-suaetr.
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