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.
TLOIUN
ttmeuos okrnedt tiseexn aitlp eroemsnmvp to gir the poeyrr on the ilu-eant takr for the tri ei. onemempvsr ee deratg at ecrangsi the vintatsrecte of the reproy to a ogwri mal aetn ktra. npeoevsmrm dnlduc a ompeel oetvinan of all ldgiiu iosbb and osetors to “oynut lb” arntdsa, stliagln an on-ei ie, neist etnr, and nfeeroen nrte. usmeott tiu out cp fife itus and ecdhiv DE-CS irlv asadtnr on one of the nsuldii.
EAAKYW
ehe mmroseenpv luedst in the senitxn of and era cenrae in sne to txiisg asenn and the aee up of hu of the et of the yrorpe to tpliue senna, ugnidlc 130,000 auqe et to ashere in otin. meiatylt, erahse in otin srhcuad the tnie orerpy ttgiur to oece its U.S. ed-truesa.
TLOIUN
ttmeuos okrnedt tiseexn aitlp eroemsnmvp to gir the poeyrr on the ilu-eant takr for the tri ei. onemempvsr ee deratg at ecrangsi the vintatsrecte of the reproy to a ogwri mal aetn ktra. npeoevsmrm dnlduc a ompeel oetvinan of all ldgiiu iosbb and osetors to “oynut lb” arntdsa, stliagln an on-ei ie, neist etnr, and nfeeroen nrte. usmeott tiu out cp fife itus and ecdhiv DE-CS irlv asadtnr on one of the nsuldii.
EAAKYW
ehe mmroseenpv luedst in the senitxn of and era cenrae in sne to txiisg asenn and the aee up of hu of the et of the yrorpe to tpliue senna, ugnidlc 130,000 auqe et to ashere in otin. meiatylt, erahse in otin srhcuad the tnie orerpy ttgiur to oece its U.S. ed-truesa.
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