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.
TULNOI
ttseoum otrnked ixnseet ailtp renmmspoev to irg the yprore on the lui-neta kart for the itr ei. epmrvsnmeo ee tgread at ceinrags the tinvtcraeest of the rpyoer to a riwgo lma etna rkta. osvernempm ddlcun a meeplo toinneav of all duiigl obsib and sseroot to “uyont lb” tnardas, atllgsni an on-ei ie, entsi rtne, and enorefen ernt. outtsme itu out pc fefi istu and ehvidc DE-CS vilr ndasatr on one of the lsduiin.
AWYKEA
hee smpvemeron tsdlue in the snxient of and rea raecen in nse to igtxis nnase and the eea up of hu of the et of the erryop to ieuplt nenas, ligcund 130,000 eauq et to heeasr in itno. taetiylm, aserhe in iton archdus the etni oyperr iguttr to eeoc its U.S. ed-earust.
TULNOI
ttseoum otrnked ixnseet ailtp renmmspoev to irg the yprore on the lui-neta kart for the itr ei. epmrvsnmeo ee tgread at ceinrags the tinvtcraeest of the rpyoer to a riwgo lma etna rkta. osvernempm ddlcun a meeplo toinneav of all duiigl obsib and sseroot to “uyont lb” tnardas, atllgsni an on-ei ie, entsi rtne, and enorefen ernt. outtsme itu out pc fefi istu and ehvidc DE-CS vilr ndasatr on one of the lsduiin.
AWYKEA
hee smpvemeron tsdlue in the snxient of and rea raecen in nse to igtxis nnase and the eea up of hu of the et of the erryop to ieuplt nenas, ligcund 130,000 eauq et to heeasr in itno. taetiylm, aserhe in iton archdus the etni oyperr iguttr to eeoc its U.S. ed-earust.
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