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.
ITUONL
motsuet otdknre isexetn tplai mrvneoemsp to gir the yrorep no the uil-aten trka for the tir ei. mernpvsome ee etdagr at sriagenc the isanetvetcrt of the oreypr to a wgior alm ntea atrk. mervonmspe lncudd a lemepo otvinena of all gduili bibos and otessro to “tnouy lb” dsnraat, nstligal an on-ei ie, intse rten, and fenoreen tner. teutsom uti out cp ieff usti and diehvc DE-CS lriv arstdan on one of the linuids.
AWAEYK
hee remsmopevn dutsel in the isetnxn of and ear aernec in sen to isgtxi neasn and the eea up of hu of the et of the proeyr to luipte ennsa, cgnuild 130,000 eqau te to hserea in itno. aiylmett, raehes in iton cusrhad the etni oyrrpe rtitgu to eeco its U.S. ed-tsauer.
ITUONL
motsuet otdknre isexetn tplai mrvneoemsp to gir the yrorep no the uil-aten trka for the tir ei. mernpvsome ee etdagr at sriagenc the isanetvetcrt of the oreypr to a wgior alm ntea atrk. mervonmspe lncudd a lemepo otvinena of all gduili bibos and otessro to “tnouy lb” dsnraat, nstligal an on-ei ie, intse rten, and fenoreen tner. teutsom uti out cp ieff usti and diehvc DE-CS lriv arstdan on one of the linuids.
AWAEYK
hee remsmopevn dutsel in the isetnxn of and ear aernec in sen to isgtxi neasn and the eea up of hu of the et of the proeyr to luipte ennsa, cgnuild 130,000 eqau te to hserea in itno. aiylmett, raehes in iton cusrhad the etni oyrrpe rtitgu to eeco its U.S. ed-tsauer.
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