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.
UOTNLI
smtetou kotdren etnisxe plita peevnrsomm to igr the rproye on the uli-etna ratk for the tri ie. mvpeosnmre ee gtadre at esicrnag the cntatitsreve of the rrypoe to a wgior mal etna kart. emeprosnvm dlducn a mpolee nteviona of all lugdii ibsob and tesroos to “tynuo lb” rnasdta, aitlnlsg an on-ei ie, sient nert, and onernfee tren. mtouste uti out cp fefi situ and eicvdh ED-CS ivrl rdaants on one of the ldinisu.
EYWAKA
hee epveomrnsm usdlet in the etninsx of and aer eacenr in sne to xitgsi enans and the eea up of hu of the et of the orprey to uetlpi snaen, guilncd 130,000 auqe te to ershea in niot. eiaytmlt, sheera in ntio uhrsdac the enti eoryrp tguirt to ceeo its U.S. de-sterau.
UOTNLI
smtetou kotdren etnisxe plita peevnrsomm to igr the rproye on the uli-etna ratk for the tri ie. mvpeosnmre ee gtadre at esicrnag the cntatitsreve of the rrypoe to a wgior mal etna kart. emeprosnvm dlducn a mpolee nteviona of all lugdii ibsob and tesroos to “tynuo lb” rnasdta, aitlnlsg an on-ei ie, sient nert, and onernfee tren. mtouste uti out cp fefi situ and eicvdh ED-CS ivrl rdaants on one of the ldinisu.
EYWAKA
hee epveomrnsm usdlet in the etninsx of and aer eacenr in sne to xitgsi enans and the eea up of hu of the et of the orprey to uetlpi snaen, guilncd 130,000 auqe te to ershea in niot. eiaytmlt, sheera in ntio uhrsdac the enti eoryrp tguirt to ceeo its U.S. de-sterau.
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