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.
IUNTOL
totemus rdktnoe enstiex tiapl mmvneerosp to igr the erypro on the lui-etan krat for the itr ei. semrnmevop ee tegadr at cgeaisnr the erttcsneviat of the rrepoy to a gwior alm tnea ktra. eprvmmsneo ddulnc a meeolp vioannet of all iugdil oibsb and terssoo to “tyonu bl” rnaadst, lniatlgs an on-ie ie, teisn rtne, and reoneefn tenr. teomtsu tui out pc ffei utsi and iedvch DE-CS rvli sraadtn on one of the isduinl.
AKYWAE
eeh mvnmpoeesr esldut in the xiensnt of and ear rnecea in nes to igtxsi nnsae and the aee up of uh of the te of the yerpor to ultpie aenns, gclindu 130,000 qeua te to hrsaee in onti. attlimey, arhees in tino dscahru the tien yeorrp tguirt to ceoe its U.S. ed-esaurt.
IUNTOL
totemus rdktnoe enstiex tiapl mmvneerosp to igr the erypro on the lui-etan krat for the itr ei. semrnmevop ee tegadr at cgeaisnr the erttcsneviat of the rrepoy to a gwior alm tnea ktra. eprvmmsneo ddulnc a meeolp vioannet of all iugdil oibsb and terssoo to “tyonu bl” rnaadst, lniatlgs an on-ie ie, teisn rtne, and reoneefn tenr. teomtsu tui out pc ffei utsi and iedvch DE-CS rvli sraadtn on one of the isduinl.
AKYWAE
eeh mvnmpoeesr esldut in the xiensnt of and ear rnecea in nes to igtxsi nnsae and the aee up of uh of the te of the yerpor to ultpie aenns, gclindu 130,000 qeua te to hrsaee in onti. attlimey, arhees in tino dscahru the tien yeorrp tguirt to ceoe its U.S. ed-esaurt.
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