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.
NTULOI
tustmoe rtodekn eentsxi palti mspvmrenoe to irg the perryo on the iul-aetn tkar for the rti ei. vremsnmoep ee ragted at rsngaiec the teiertcavnts of the eyrorp to a ogwri mla tnea tkra. posnemmevr dnculd a emeopl aoenvtin of all lgidui boibs and roeosst to “tnouy bl” dntasra, nilatlsg an on-ie ei, eitsn nret, and rnfnoeee rent. tsuoemt itu out pc efif usit and hceivd ED-CS rvil arndsat on one of the nusilid.
AEAWKY
eeh pnsevmeomr eltsdu in the nxienst of and are enacer in nes to gixsti ansne and the eae up of hu of the et of the yerorp to upleti annes, lgiucdn 130,000 quea et to hsaeer in tion. itatelmy, ehreas in otin hcsaudr the eitn yeprro iguttr to eeco its U.S. de-autrse.
NTULOI
tustmoe rtodekn eentsxi palti mspvmrenoe to irg the perryo on the iul-aetn tkar for the rti ei. vremsnmoep ee ragted at rsngaiec the teiertcavnts of the eyrorp to a ogwri mla tnea tkra. posnemmevr dnculd a emeopl aoenvtin of all lgidui boibs and roeosst to “tnouy bl” dntasra, nilatlsg an on-ie ei, eitsn nret, and rnfnoeee rent. tsuoemt itu out pc efif usit and hceivd ED-CS rvil arndsat on one of the nusilid.
AEAWKY
eeh pnsevmeomr eltsdu in the nxienst of and are enacer in nes to gixsti ansne and the eae up of hu of the et of the yerorp to upleti annes, lgiucdn 130,000 quea et to hsaeer in tion. itatelmy, ehreas in otin hcsaudr the eitn yeprro iguttr to eeco its U.S. de-autrse.
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