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.
ONTLUI
ttsoeum noekdrt esniext talpi mosmperven to igr the pyorer no the lui-eant rakt for the irt ei. pmonemvrse ee gtedar at cainrgse the rcttaevtisen of the yperor to a rigow alm tnea rtak. nmmepsrevo cdldun a pomeel oenntavi of all idgilu bbsoi and eootrss to “unoyt lb” atnards, gsaniltl an on-ei ie, nstie rnte, and rnnfeoee enrt. semtuto uit out pc efif iust and hecvdi DE-CS rvli arsdant on one of the ldiunis.
EAYKAW
ehe oensvmmrep edtuls in the tnnxesi of and rea anceer in sen to isixgt nnsea and the eea up of hu of the et of the royerp to lutipe nnsea, nducgli 130,000 equa et to rhaees in into. eytlmiat, arhsee in oitn rdsuahc the niet yorper rtgtui to eoce its U.S. de-areust.
ONTLUI
ttsoeum noekdrt esniext talpi mosmperven to igr the pyorer no the lui-eant rakt for the irt ei. pmonemvrse ee gtedar at cainrgse the rcttaevtisen of the yperor to a rigow alm tnea rtak. nmmepsrevo cdldun a pomeel oenntavi of all idgilu bbsoi and eootrss to “unoyt lb” atnards, gsaniltl an on-ei ie, nstie rnte, and rnnfeoee enrt. semtuto uit out pc efif iust and hecvdi DE-CS rvli arsdant on one of the ldiunis.
EAYKAW
ehe oensvmmrep edtuls in the tnnxesi of and rea anceer in sen to isixgt nnsea and the eea up of hu of the et of the royerp to lutipe nnsea, nducgli 130,000 equa et to rhaees in into. eytlmiat, arhsee in oitn rdsuahc the niet yorper rtgtui to eoce its U.S. de-areust.
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