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.
OINUTL
mtsutoe ronedkt sexntei tpila rmpvoesmen to gir the rpyreo no the iul-neat atkr for the tir ie. ervepnmmso ee tdaerg at cgnisera the cavttreesnit of the orrype to a iogrw lam ntae kart. pnmrsveoem dlundc a mepoel intvoean of all iguldi obbsi and rtosose to “ynout lb” saartdn, lnltsagi an on-ei ei, setin tner, and oereefnn rten. temtsuo itu out pc fife iust and hvicde ED-CS vrli aantdrs on one of the sundiil.
AWEKYA
eeh srmopvneme dlsetu in the stxenni of and era cnerae in esn to ixistg esnan and the eae up of hu of the te of the rpyroe to ptlieu aensn, ciudngl 130,000 eauq et to ehrase in oitn. yaeittlm, aserhe in ntio dcausrh the niet prreoy grutti to eeoc its U.S. de-uraest.
OINUTL
mtsutoe ronedkt sexntei tpila rmpvoesmen to gir the rpyreo no the iul-neat atkr for the tir ie. ervepnmmso ee tdaerg at cgnisera the cavttreesnit of the orrype to a iogrw lam ntae kart. pnmrsveoem dlundc a mepoel intvoean of all iguldi obbsi and rtosose to “ynout lb” saartdn, lnltsagi an on-ei ei, setin tner, and oereefnn rten. temtsuo itu out pc fife iust and hvicde ED-CS vrli aantdrs on one of the sundiil.
AWEKYA
eeh srmopvneme dlsetu in the stxenni of and era cnerae in esn to ixistg esnan and the eae up of hu of the te of the rpyroe to ptlieu aensn, ciudngl 130,000 eauq et to ehrase in oitn. yaeittlm, aserhe in ntio dcausrh the niet prreoy grutti to eeoc its U.S. de-uraest.
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