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.
LTIUON
tosumet rdtkneo seiextn atpil ovnpeemsmr to gri the ryrepo on the uli-ante aktr for the itr ei. meevpnsmor ee atrdge at aegcrnis the taitvsnecter of the oerryp to a giorw lma ante trak. vepnseommr dlcudn a lpemeo aitvenon of all gludii sbboi and otersso to “nytuo bl” nasartd, llsnitag an on-ie ei, tsine rent, and oenrfeen enrt. utmsteo tiu out pc fife utsi and ecdivh DE-CS lrvi saadnrt on one of the lsunidi.
YWAKAE
hee povmnemesr sedutl in the itnxens of and rea eeacrn in sen to itgxis enasn and the eae up of hu of the et of the yprroe to lpteui ensan, luigcdn 130,000 quae et to aesher in nito. lmaieytt, ahseer in iont scuhrad the ient pyrreo gtiutr to eoec its U.S. ed-raeuts.
LTIUON
tosumet rdtkneo seiextn atpil ovnpeemsmr to gri the ryrepo on the uli-ante aktr for the itr ei. meevpnsmor ee atrdge at aegcrnis the taitvsnecter of the oerryp to a giorw lma ante trak. vepnseommr dlcudn a lpemeo aitvenon of all gludii sbboi and otersso to “nytuo bl” nasartd, llsnitag an on-ie ei, tsine rent, and oenrfeen enrt. utmsteo tiu out pc fife utsi and ecdivh DE-CS lrvi saadnrt on one of the lsunidi.
YWAKAE
hee povmnemesr sedutl in the itnxens of and rea eeacrn in sen to itgxis enasn and the eae up of hu of the et of the yprroe to lpteui ensan, luigcdn 130,000 quae et to aesher in nito. lmaieytt, ahseer in iont scuhrad the ient pyrreo gtiutr to eoec its U.S. ed-raeuts.
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