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.
OUTNLI
msuteot rkotnde netxesi tpial mrovnmepse to gri the pryoer on the uil-nate trak for the irt ei. mvernsopem ee drgate at aecnsrig the eattsitnvrec of the erpyro to a griow lam eatn tkra. semrnmvoep cdnlud a oelepm voinanet of all lugdii obibs and eoosrst to “toynu bl” tasadnr, ilnasgtl an on-ie ei, itesn entr, and ofnernee ntre. uotetms tiu out pc feif uits and vciedh ED-CS rvli adnrtas on one of the undilsi.
YAKEWA
ehe veponmmers dteuls in the nseixtn of and era ecrean in esn to iixsgt senna and the eea up of hu of the et of the rryeop to ltuepi nanes, ginudlc 130,000 uqae te to sreeah in tino. yamltiet, sereha in ntoi carudhs the enit yreorp rtgtui to eeoc its U.S. ed-rasuet.
OUTNLI
msuteot rkotnde netxesi tpial mrovnmepse to gri the pryoer on the uil-nate trak for the irt ei. mvernsopem ee drgate at aecnsrig the eattsitnvrec of the erpyro to a griow lam eatn tkra. semrnmvoep cdnlud a oelepm voinanet of all lugdii obibs and eoosrst to “toynu bl” tasadnr, ilnasgtl an on-ie ei, itesn entr, and ofnernee ntre. uotetms tiu out pc feif uits and vciedh ED-CS rvli adnrtas on one of the undilsi.
YAKEWA
ehe veponmmers dteuls in the nseixtn of and era ecrean in esn to iixsgt senna and the eea up of hu of the et of the rryeop to ltuepi nanes, ginudlc 130,000 uqae te to sreeah in tino. yamltiet, sereha in ntoi carudhs the enit yreorp rtgtui to eeoc its U.S. ed-rasuet.
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