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.
NLUOIT
tmstoeu rknetod snxeeit tplia veemnomspr to rig the poyrer no the liu-tane rkat for the tri ie. neopmemvrs ee rtadeg at scgaerni the ectsaittvren of the orepry to a iwrog lma etna rkta. snmvrepmeo nduldc a omleep neoitvan of all gldiiu bsiob and ssortoe to “onuyt bl” aanrtds, llgasint an on-ie ei, tsein nter, and neonfree rtne. teotusm tiu out cp effi iust and iehdvc DE-CS lirv atsdnar on one of the ludnisi.
EWAYKA
ehe mrosneepmv setuld in the esxtnin of and ear enarce in nes to txisig saenn and the eea up of uh of the te of the rproye to pieult ansne, nldcuig 130,000 eqau te to hseera in inot. etilamyt, eersha in iotn dhcsrau the tein rerypo guitrt to eeco its U.S. ed-aserut.
NLUOIT
tmstoeu rknetod snxeeit tplia veemnomspr to rig the poyrer no the liu-tane rkat for the tri ie. neopmemvrs ee rtadeg at scgaerni the ectsaittvren of the orepry to a iwrog lma etna rkta. snmvrepmeo nduldc a omleep neoitvan of all gldiiu bsiob and ssortoe to “onuyt bl” aanrtds, llgasint an on-ie ei, tsein nter, and neonfree rtne. teotusm tiu out cp effi iust and iehdvc DE-CS lirv atsdnar on one of the ludnisi.
EWAYKA
ehe mrosneepmv setuld in the esxtnin of and ear enarce in nes to txisig saenn and the eea up of uh of the te of the rproye to pieult ansne, nldcuig 130,000 eqau te to hseera in inot. etilamyt, eersha in iotn dhcsrau the tein rerypo guitrt to eeco its U.S. ed-aserut.
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