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.
OLINTU
tesmtou torndke itexsen ptlai nmpervomse to gir the erypor on the lui-ntea tkar for the rit ei. pvrsememon ee ragted at cgenarsi the aircettvsten of the reypro to a ogiwr mla nate tark. mvemeorsnp dducnl a pmoeel ineavton of all liudig ibobs and sootrse to “ytoun lb” snrtada, ngtlslia an on-ei ei, nitse tenr, and ofrenene tern. ottseum tui out cp efif stiu and eidhcv ED-CS vlir tadrsna on one of the isunidl.
YAKAWE
ehe nroempvesm deults in the xitnens of and are cenrea in sne to xigsit ansen and the eae up of uh of the et of the reopry to leutpi annse, igcnldu 130,000 eaqu te to hesear in toni. ytlmeiat, rhesea in toin uhrsdca the eint pyeorr trigut to ocee its U.S. de-seatur.
OLINTU
tesmtou torndke itexsen ptlai nmpervomse to gir the erypor on the lui-ntea tkar for the rit ei. pvrsememon ee ragted at cgenarsi the aircettvsten of the reypro to a ogiwr mla nate tark. mvemeorsnp dducnl a pmoeel ineavton of all liudig ibobs and sootrse to “ytoun lb” snrtada, ngtlslia an on-ei ei, nitse tenr, and ofrenene tern. ottseum tui out cp efif stiu and eidhcv ED-CS vlir tadrsna on one of the isunidl.
YAKAWE
ehe nroempvesm deults in the xitnens of and are cenrea in sne to xigsit ansen and the eae up of uh of the et of the reopry to leutpi annse, igcnldu 130,000 eaqu te to hesear in toni. ytlmeiat, rhesea in toin uhrsdca the eint pyeorr trigut to ocee its U.S. de-seatur.
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