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.
ULNOIT
eutsomt oerntkd extesni plita enesmoprvm to irg the poerry on the uil-enta rtka for the tri ei. reensmmvpo ee gtdera at egriacns the ietncattevrs of the rpreyo to a iworg mal aten krat. esmremovpn dlncdu a oelemp nvaoient of all udigli isbob and retooss to “yntou bl” aadstnr, inallgts an on-ei ie, ensit nrte, and foennree tnre. teuotms uti out pc effi tsui and chdvie DE-CS ivlr danarst on one of the unlisdi.
KEAAWY
ehe reemvnpmos sutlde in the neixstn of and aer eanrec in sne to iixsgt naens and the eea up of hu of the te of the rorype to eilptu enasn, gcdiuln 130,000 uaeq et to arhese in oint. aeymiltt, aeehrs in onti ucshdar the iten rpyore utirtg to oeec its U.S. ed-utsare.
ULNOIT
eutsomt oerntkd extesni plita enesmoprvm to irg the poerry on the uil-enta rtka for the tri ei. reensmmvpo ee gtdera at egriacns the ietncattevrs of the rpreyo to a iworg mal aten krat. esmremovpn dlncdu a oelemp nvaoient of all udigli isbob and retooss to “yntou bl” aadstnr, inallgts an on-ei ie, ensit nrte, and foennree tnre. teuotms uti out pc effi tsui and chdvie DE-CS ivlr danarst on one of the unlisdi.
KEAAWY
ehe reemvnpmos sutlde in the neixstn of and aer eanrec in sne to iixsgt naens and the eea up of hu of the te of the rorype to eilptu enasn, gcdiuln 130,000 uaeq et to arhese in oint. aeymiltt, aeehrs in onti ucshdar the iten rpyore utirtg to oeec its U.S. ed-utsare.
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