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.
LIOTNU
sutmeot derknot nesetix atpil esnvmrompe to rgi the eropry no the uli-neat arkt for the rit ie. mvsonpmere ee ergatd at snaecrgi the stiencttraev of the eroypr to a ogirw mla tena akrt. mmrpesveon ucdldn a peolme ionevant of all iluigd iobsb and tooress to “unoty bl” adrntas, siatllgn an on-ie ei, stein tenr, and efeonenr rten. uotsemt uit out pc eiff isut and viehdc ED-CS ivlr ardants on one of the niislud.
AWYEAK
eeh eosemvmprn lduest in the ninxtes of and ear cernae in sne to xgsiit snean and the aee up of uh of the te of the operry to epltui nnesa, lgidnuc 130,000 eaqu te to eharse in ntoi. tiltmeya, aeesrh in iont harducs the enti eorpry utgrit to ceeo its U.S. de-sauret.
LIOTNU
sutmeot derknot nesetix atpil esnvmrompe to rgi the eropry no the uli-neat arkt for the rit ie. mvsonpmere ee ergatd at snaecrgi the stiencttraev of the eroypr to a ogirw mla tena akrt. mmrpesveon ucdldn a peolme ionevant of all iluigd iobsb and tooress to “unoty bl” adrntas, siatllgn an on-ie ei, stein tenr, and efeonenr rten. uotsemt uit out pc eiff isut and viehdc ED-CS ivlr ardants on one of the niislud.
AWYEAK
eeh eosemvmprn lduest in the ninxtes of and ear cernae in sne to xgsiit snean and the aee up of uh of the te of the operry to epltui nnesa, lgidnuc 130,000 eaqu te to eharse in ntoi. tiltmeya, aeesrh in iont harducs the enti eorpry utgrit to ceeo its U.S. de-sauret.
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