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.
IUNLOT
tueosmt nrtekdo tnxeies talpi servpnomem to igr the rroeyp no the ilu-ntae rakt for the tir ie. spmeeormnv ee tadreg at cairsgne the evtrneasctit of the rpeory to a oigwr aml etan krta. svronmpmee ucnldd a poelme etoinnva of all ildgiu boibs and eosstro to “oyunt lb” snatrad, sgillant an on-ei ei, senit etrn, and fneeeonr ernt. tseotum tiu out pc feif tsiu and edcvih ED-CS vilr tasandr on one of the uidslin.
AWAYEK
ehe evpenmsmro tdsule in the netsinx of and rea cenera in esn to sgixti nneas and the eae up of hu of the te of the rpoyre to leitpu neans, udclnig 130,000 eqau et to rahees in oitn. ytematil, sehaer in iont dasrhcu the etni ypoerr uirtgt to oece its U.S. ed-usraet.
IUNLOT
tueosmt nrtekdo tnxeies talpi servpnomem to igr the rroeyp no the ilu-ntae rakt for the tir ie. spmeeormnv ee tadreg at cairsgne the evtrneasctit of the rpeory to a oigwr aml etan krta. svronmpmee ucnldd a poelme etoinnva of all ildgiu boibs and eosstro to “oyunt lb” snatrad, sgillant an on-ei ei, senit etrn, and fneeeonr ernt. tseotum tiu out pc feif tsiu and edcvih ED-CS vilr tasandr on one of the uidslin.
AWAYEK
ehe evpenmsmro tdsule in the netsinx of and rea cenera in esn to sgixti nneas and the eae up of hu of the te of the rpoyre to leitpu neans, udclnig 130,000 eqau et to rahees in oitn. ytematil, sehaer in iont dasrhcu the etni ypoerr uirtgt to oece its U.S. ed-usraet.
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