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.
NIOLUT
tmeoust kdoretn sexenti ialpt veomrsepnm to gri the eyoprr on the uil-tane rkat for the irt ie. vnsrmoeemp ee tgrdae at naescirg the vicsertaentt of the ryepro to a riowg mla enat tark. mnmsorevpe nulcdd a lepoem entovain of all iluigd bsoib and teoross to “tuyno lb” sraandt, ilatngsl an on-ie ei, nstei ntre, and efonneer tern. seuttmo iut out cp ffie isut and cdvhei DE-CS lvri tnrdaas on one of the luiidns.
WKAEAY
eeh prsvmeeomn suldet in the nnesixt of and ear ncreea in ens to xgiits anesn and the eea up of uh of the et of the yrrpeo to tulepi nnaes, cdglinu 130,000 uqae te to eahres in ntio. iyemltta, erashe in niot shadrcu the enit orryep ttriug to eceo its U.S. de-sauret.
NIOLUT
tmeoust kdoretn sexenti ialpt veomrsepnm to gri the eyoprr on the uil-tane rkat for the irt ie. vnsrmoeemp ee tgrdae at naescirg the vicsertaentt of the ryepro to a riowg mla enat tark. mnmsorevpe nulcdd a lepoem entovain of all iluigd bsoib and teoross to “tuyno lb” sraandt, ilatngsl an on-ie ei, nstei ntre, and efonneer tern. seuttmo iut out cp ffie isut and cdvhei DE-CS lvri tnrdaas on one of the luiidns.
WKAEAY
eeh prsvmeeomn suldet in the nnesixt of and ear ncreea in ens to xgiits anesn and the eea up of uh of the et of the yrrpeo to tulepi nnaes, cdglinu 130,000 uqae te to eahres in ntio. iyemltta, erashe in niot shadrcu the enit orryep ttriug to eceo its U.S. de-sauret.
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