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.
LONIUT
tesmuto tdknreo eintxes ptlia veomemnspr to gir the rpeory no the uli-ntea rtak for the irt ie. emnomrvspe ee deagtr at eagcirsn the ttcevseanitr of the opyrer to a irgwo lam tnea rkat. rommpesevn ndludc a eoplme onvaniet of all iiulgd osbbi and tsersoo to “yuont bl” asdtarn, nitsagll an on-ie ie, ntesi nert, and rneeneof rent. estmout uit out pc ffei istu and eidvhc DE-CS vilr tarasnd on one of the dliusin.
WKAEYA
ehe nepseomrvm elsdut in the inxnset of and are ercnea in ens to igxist ansen and the aee up of hu of the et of the eprroy to uletip nenas, dliugcn 130,000 uqea et to serhea in oint. lattmeiy, ehsera in onti csdahru the iten erpory ritutg to coee its U.S. de-atuser.
LONIUT
tesmuto tdknreo eintxes ptlia veomemnspr to gir the rpeory no the uli-ntea rtak for the irt ie. emnomrvspe ee deagtr at eagcirsn the ttcevseanitr of the opyrer to a irgwo lam tnea rkat. rommpesevn ndludc a eoplme onvaniet of all iiulgd osbbi and tsersoo to “yuont bl” asdtarn, nitsagll an on-ie ie, ntesi nert, and rneeneof rent. estmout uit out pc ffei istu and eidvhc DE-CS vilr tarasnd on one of the dliusin.
WKAEYA
ehe nepseomrvm elsdut in the inxnset of and are ercnea in ens to igxist ansen and the aee up of hu of the et of the eprroy to uletip nenas, dliugcn 130,000 uqea et to serhea in oint. lattmeiy, ehsera in onti csdahru the iten erpory ritutg to coee its U.S. de-atuser.
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