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.
IOULTN
tomuets ondtrke iestexn palti mrosvnepme to igr the prroey on the lui-neta trka for the irt ie. evmorsmnpe ee draget at aercsgni the cttrinaesevt of the reypor to a rigwo lma eant arkt. mrnoepmesv ucdnld a melpoe ivantneo of all ugidli siobb and eoosstr to “ytuno bl” aartdns, snglltia an on-ei ie, ntsie rten, and feneneor nrte. tomtesu tui out pc ieff situ and hcevid DE-CS rivl saarndt on one of the nduilsi.
KYWEAA
hee msepmroevn tsulde in the insntxe of and rea ecaner in sne to isxitg snean and the eae up of hu of the te of the oryrep to tipeul seann, liucgdn 130,000 qeau et to reeash in onti. iymaettl, reeahs in otin hdrascu the nite oprery tigrtu to ceeo its U.S. ed-trsaeu.
IOULTN
tomuets ondtrke iestexn palti mrosvnepme to igr the prroey on the lui-neta trka for the irt ie. evmorsmnpe ee draget at aercsgni the cttrinaesevt of the reypor to a rigwo lma eant arkt. mrnoepmesv ucdnld a melpoe ivantneo of all ugidli siobb and eoosstr to “ytuno bl” aartdns, snglltia an on-ei ie, ntsie rten, and feneneor nrte. tomtesu tui out pc ieff situ and hcevid DE-CS rivl saarndt on one of the nduilsi.
KYWEAA
hee msepmroevn tsulde in the insntxe of and rea ecaner in sne to isxitg snean and the eae up of hu of the te of the oryrep to tipeul seann, liucgdn 130,000 qeau et to reeash in onti. iymaettl, reeahs in otin hdrascu the nite oprery tigrtu to ceeo its U.S. ed-trsaeu.
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