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.
TLOUIN
usttmoe oednrkt sxnitee tplai respmonemv to gir the yproer no the uil-tnae rkta for the irt ei. rsvomenemp ee readgt at rcngasie the ncestrtvtiea of the reroyp to a wigro mal naet trka. mpenervsmo ddnclu a oepmel iteoannv of all ugdiil osibb and ssrooet to “nyuot bl” tndsraa, igstnlla an on-ie ie, isnte nret, and eneeofnr nret. eoutstm tiu out cp fief utsi and edvcih ED-CS ilrv rsanadt on one of the uslidin.
KWEAYA
hee vompmsnere luetds in the xienstn of and aer eernac in esn to igtxsi ensan and the aee up of hu of the te of the rpeyor to uteipl asenn, idnlcug 130,000 qaeu et to heaser in oint. lmittaye, eesarh in tnio hrsaucd the tein eyoprr tutirg to coee its U.S. de-seuatr.
TLOUIN
usttmoe oednrkt sxnitee tplai respmonemv to gir the yproer no the uil-tnae rkta for the irt ei. rsvomenemp ee readgt at rcngasie the ncestrtvtiea of the reroyp to a wigro mal naet trka. mpenervsmo ddnclu a oepmel iteoannv of all ugdiil osibb and ssrooet to “nyuot bl” tndsraa, igstnlla an on-ie ie, isnte nret, and eneeofnr nret. eoutstm tiu out cp fief utsi and edvcih ED-CS ilrv rsanadt on one of the uslidin.
KWEAYA
hee vompmsnere luetds in the xienstn of and aer eernac in esn to igtxsi ensan and the aee up of hu of the te of the rpeyor to uteipl asenn, idnlcug 130,000 qaeu et to heaser in oint. lmittaye, eesarh in tnio hrsaucd the tein eyoprr tutirg to coee its U.S. de-seuatr.
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