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.
LIOTUN
emottus netorkd tesenix apitl eepmmvsonr to gri the ryorep no the liu-enta rkat for the tri ei. mpomeervns ee drgeta at cgeasrni the entsvrtiatec of the proery to a orwgi lam tane rtka. oensmmevpr ludncd a plemoe intvaone of all duglii isbob and ootsser to “ounty bl” asnatdr, glsnailt an on-ei ei, itsne ertn, and fennoeer enrt. somutte uti out pc ffei utis and eihcvd DE-CS livr asdarnt on one of the unlidsi.
KAEAYW
eeh nseproemvm ltesdu in the eisnxnt of and aer erenca in esn to tgxisi nnsae and the aee up of hu of the te of the opyrre to peltui ennas, inugdcl 130,000 eaqu et to eheasr in into. ayitmlte, aesehr in oitn rucdhsa the tien royrep rtigtu to eoec its U.S. ed-teusra.
LIOTUN
emottus netorkd tesenix apitl eepmmvsonr to gri the ryorep no the liu-enta rkat for the tri ei. mpomeervns ee drgeta at cgeasrni the entsvrtiatec of the proery to a orwgi lam tane rtka. oensmmevpr ludncd a plemoe intvaone of all duglii isbob and ootsser to “ounty bl” asnatdr, glsnailt an on-ei ei, itsne ertn, and fennoeer enrt. somutte uti out pc ffei utis and eihcvd DE-CS livr asdarnt on one of the unlidsi.
KAEAYW
eeh nseproemvm ltesdu in the eisnxnt of and aer erenca in esn to tgxisi nnsae and the aee up of hu of the te of the opyrre to peltui ennas, inugdcl 130,000 eaqu et to eheasr in into. ayitmlte, aesehr in oitn rucdhsa the tien royrep rtigtu to eoec its U.S. ed-teusra.
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