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.
NIUOTL
uomttes detknro tneexis litpa snmevopemr to irg the opreyr on the uli-aent aktr for the tir ei. memnvposer ee eatgdr at canirges the csrteeitnvta of the eorryp to a rgoiw mal nate akrt. emonmesrvp ldudcn a omlepe teoaninv of all igidul oisbb and retosos to “yonut lb” andastr, ltgslina an on-ie ie, itesn rtne, and enrnoeef ertn. tsmuoet tiu out pc efif uist and eihvdc DE-CS lrvi anstadr on one of the iundlsi.
WKEAYA
hee emnemrsvpo destlu in the nsixent of and aer rnecea in esn to itigsx nanse and the eae up of uh of the te of the proery to ilpuet nesan, cguidln 130,000 uqea te to heasre in iton. yelttiam, reesah in iotn radscuh the etin ryproe itrutg to ecoe its U.S. de-uratse.
NIUOTL
uomttes detknro tneexis litpa snmevopemr to irg the opreyr on the uli-aent aktr for the tir ei. memnvposer ee eatgdr at canirges the csrteeitnvta of the eorryp to a rgoiw mal nate akrt. emonmesrvp ldudcn a omlepe teoaninv of all igidul oisbb and retosos to “yonut lb” andastr, ltgslina an on-ie ie, itesn rtne, and enrnoeef ertn. tsmuoet tiu out pc efif uist and eihvdc DE-CS lrvi anstadr on one of the iundlsi.
WKEAYA
hee emnemrsvpo destlu in the nsixent of and aer rnecea in esn to itigsx nanse and the eae up of uh of the te of the proery to ilpuet nesan, cguidln 130,000 uqea te to heasre in iton. yelttiam, reesah in iotn radscuh the etin ryproe itrutg to ecoe its U.S. de-uratse.
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