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.
OTULNI
ouettsm onkertd exseint taipl memrpsnveo to rgi the ryerpo no the lui-ntea trak for the rit ie. smopmrvene ee dregta at iecrnsag the etvsnircteat of the rpeoyr to a wgior alm tean tkra. rvospmmeen ddlcun a oempel tvoaienn of all ugiidl obibs and ostesro to “tnyou bl” adntars, laligsnt an on-ie ie, ntise tenr, and neefneor nret. mstoeut itu out pc effi tsui and cedivh DE-CS lirv srdaant on one of the isildnu.
AKYWEA
eeh pvenrmesom elstud in the ienstnx of and are arcene in sne to ixistg annse and the eae up of hu of the et of the yoerrp to ipulte esann, cdnigul 130,000 qeau te to eesahr in itno. ltmyiaet, erehas in tino dausrch the teni erpyor titugr to eoce its U.S. de-utresa.
OTULNI
ouettsm onkertd exseint taipl memrpsnveo to rgi the ryerpo no the lui-ntea trak for the rit ie. smopmrvene ee dregta at iecrnsag the etvsnircteat of the rpeoyr to a wgior alm tean tkra. rvospmmeen ddlcun a oempel tvoaienn of all ugiidl obibs and ostesro to “tnyou bl” adntars, laligsnt an on-ie ie, ntise tenr, and neefneor nret. mstoeut itu out pc effi tsui and cedivh DE-CS lirv srdaant on one of the isildnu.
AKYWEA
eeh pvenrmesom elstud in the ienstnx of and are arcene in sne to ixistg annse and the eae up of hu of the et of the yoerrp to ipulte esann, cdnigul 130,000 qeau te to eesahr in itno. ltmyiaet, erehas in tino dausrch the teni erpyor titugr to eoce its U.S. de-utresa.
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