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.
IONLTU
meosttu dtroekn ntiexse pitla mmevpoenrs to rgi the operry no the iul-aent aktr for the tir ei. epvrsmomen ee ergatd at caingrse the cntattivrsee of the orpeyr to a girow mla aetn akrt. mpemnsovre cdnlud a meoepl ivoneant of all duliig bbiso and oroests to “yontu lb” draants, ailtlnsg an on-ei ei, stein rnte, and efeneonr nter. smeottu iut out pc effi uist and dhivec DE-CS lrvi ardtnsa on one of the diluins.
AEWKYA
hee mnsevrpome ueldst in the intenxs of and aer acener in sne to iisxgt nnaes and the eae up of uh of the et of the peyror to ieplut neasn, nuiglcd 130,000 ueqa et to harsee in inot. ltmaytei, earshe in onit racudhs the tine orrpye gttiru to coee its U.S. de-sureta.
IONLTU
meosttu dtroekn ntiexse pitla mmevpoenrs to rgi the operry no the iul-aent aktr for the tir ei. epvrsmomen ee ergatd at caingrse the cntattivrsee of the orpeyr to a girow mla aetn akrt. mpemnsovre cdnlud a meoepl ivoneant of all duliig bbiso and oroests to “yontu lb” draants, ailtlnsg an on-ei ei, stein rnte, and efeneonr nter. smeottu iut out pc effi uist and dhivec DE-CS lrvi ardtnsa on one of the diluins.
AEWKYA
hee mnsevrpome ueldst in the intenxs of and aer acener in sne to iisxgt nnaes and the eae up of uh of the et of the peyror to ieplut neasn, nuiglcd 130,000 ueqa et to harsee in inot. ltmaytei, earshe in onit racudhs the tine orrpye gttiru to coee its U.S. de-sureta.
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