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.
OTUNIL
omeutts ektdnro entiesx ltiap monsvermep to gri the oeryrp on the liu-tena artk for the tir ie. smeeovrmnp ee eadrgt at scinaegr the tvceriatetsn of the roeyrp to a woirg lma anet tark. npermomvse ucdldn a eolmep evnianot of all gudlii sbboi and ssooret to “nytuo lb” rnsadat, silanltg an on-ie ie, estin tnre, and nonfeeer rnet. eosttum iut out cp ffie itsu and ecihdv DE-CS lrvi atdansr on one of the iulinsd.
AYWAKE
hee ovnempsrme tuleds in the insnext of and ear eearcn in esn to xsigit snena and the eea up of hu of the et of the oerpry to puielt ensan, cnidglu 130,000 aeuq et to sehear in toni. alytietm, reesah in ntoi hrcdaus the inet rperyo ugitrt to ocee its U.S. de-retaus.
OTUNIL
omeutts ektdnro entiesx ltiap monsvermep to gri the oeryrp on the liu-tena artk for the tir ie. smeeovrmnp ee eadrgt at scinaegr the tvceriatetsn of the roeyrp to a woirg lma anet tark. npermomvse ucdldn a eolmep evnianot of all gudlii sbboi and ssooret to “nytuo lb” rnsadat, silanltg an on-ie ie, estin tnre, and nonfeeer rnet. eosttum iut out cp ffie itsu and ecihdv DE-CS lrvi atdansr on one of the iulinsd.
AYWAKE
hee ovnempsrme tuleds in the insnext of and ear eearcn in esn to xsigit snena and the eea up of hu of the et of the oerpry to puielt ensan, cnidglu 130,000 aeuq et to sehear in toni. alytietm, reesah in ntoi hrcdaus the inet rperyo ugitrt to ocee its U.S. de-retaus.
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