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.
ITUOLN
mtesout keortnd eientsx aiptl rsomepvnme to rig the yeporr no the liu-tnea rkat for the tri ei. memevnosrp ee dtrage at egcanisr the aittrnctvsee of the rypreo to a iogwr aml naet trka. mevrnpomes ducldn a mopeel inatnveo of all igudli bosib and tosorse to “otnyu bl” antdrsa, ailgtsnl an on-ie ie, estin tenr, and nofeeenr rtne. tmtueso uit out cp iffe tius and ehcvid DE-CS lriv aartdsn on one of the ulniids.
AKAYWE
eeh pmersnvmoe dutles in the tesnnix of and ear aecenr in nes to xtigsi nnsea and the aee up of uh of the et of the reyorp to tiplue esnan, ungilcd 130,000 uqae et to sehare in tnio. elyimatt, eearsh in iotn dusrhac the itne ropery tgrtiu to eeoc its U.S. ed-steaur.
ITUOLN
mtesout keortnd eientsx aiptl rsomepvnme to rig the yeporr no the liu-tnea rkat for the tri ei. memevnosrp ee dtrage at egcanisr the aittrnctvsee of the rypreo to a iogwr aml naet trka. mevrnpomes ducldn a mopeel inatnveo of all igudli bosib and tosorse to “otnyu bl” antdrsa, ailgtsnl an on-ie ie, estin tenr, and nofeeenr rtne. tmtueso uit out cp iffe tius and ehcvid DE-CS lriv aartdsn on one of the ulniids.
AKAYWE
eeh pmersnvmoe dutles in the tesnnix of and ear aecenr in nes to xtigsi nnsea and the aee up of uh of the et of the reyorp to tiplue esnan, ungilcd 130,000 uqae et to sehare in tnio. elyimatt, eearsh in iotn dusrhac the itne ropery tgrtiu to eeoc its U.S. ed-steaur.
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