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.
OINTLU
temusto dknetro exisetn ailpt mnmsevoerp to gir the yreorp on the lui-anet tkar for the irt ei. smmnovpere ee gtraed at rnigecas the inttcasterve of the peoryr to a iorwg lam ante krat. nmepormevs nludcd a mpolee oiaetnvn of all ldiugi sibbo and osstroe to “notyu bl” nsartad, lalntigs an on-ei ie, tnsie retn, and nerneefo rten. ttmesuo itu out cp fefi tuis and vedcih DE-CS rvil rtsanda on one of the ludiisn.
KAEYWA
ehe opeemvrsmn ldsetu in the nnixets of and are necare in sen to igistx nasen and the eea up of hu of the et of the eoyrrp to letipu esann, cguildn 130,000 quae et to eahser in oitn. tytleima, seerah in tnio hacdsru the inte prroey tutrgi to oece its U.S. de-raetus.
OINTLU
temusto dknetro exisetn ailpt mnmsevoerp to gir the yreorp on the lui-anet tkar for the irt ei. smmnovpere ee gtraed at rnigecas the inttcasterve of the peoryr to a iorwg lam ante krat. nmepormevs nludcd a mpolee oiaetnvn of all ldiugi sibbo and osstroe to “notyu bl” nsartad, lalntigs an on-ei ie, tnsie retn, and nerneefo rten. ttmesuo itu out cp fefi tuis and vedcih DE-CS rvil rtsanda on one of the ludiisn.
KAEYWA
ehe opeemvrsmn ldsetu in the nnixets of and are necare in sen to igistx nasen and the eea up of hu of the et of the eoyrrp to letipu esann, cguildn 130,000 quae et to eahser in oitn. tytleima, seerah in tnio hacdsru the inte prroey tutrgi to oece its U.S. de-raetus.
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