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.
NUTOLI
eouttsm dnkteor xestine ltpai enmsompver to igr the peyror no the uil-eant artk for the tri ie. eepmrmsonv ee rtdgea at agisrnec the taitnrtesvce of the oerypr to a owgri alm etan kart. vsonpeemmr ddcnlu a meploe oivnneat of all ldiiug bbiso and sooetsr to “ynotu bl” srdnata, siallngt an on-ei ie, tinse nrte, and enneoerf tenr. steoumt iut out pc ifef iuts and ehidvc DE-CS ilvr dartsna on one of the iilunds.
EKAWAY
eeh mmvnsepeor ltused in the sxtenni of and ear rcneea in sne to iigxst asenn and the aee up of hu of the te of the yroerp to telipu snnae, ingdlcu 130,000 qeua te to sereha in tino. etalymit, ehrsae in otin ardsuch the enti rpreoy irgutt to ecoe its U.S. ed-utsera.
NUTOLI
eouttsm dnkteor xestine ltpai enmsompver to igr the peyror no the uil-eant artk for the tri ie. eepmrmsonv ee rtdgea at agisrnec the taitnrtesvce of the oerypr to a owgri alm etan kart. vsonpeemmr ddcnlu a meploe oivnneat of all ldiiug bbiso and sooetsr to “ynotu bl” srdnata, siallngt an on-ei ie, tinse nrte, and enneoerf tenr. steoumt iut out pc ifef iuts and ehidvc DE-CS ilvr dartsna on one of the iilunds.
EKAWAY
eeh mmvnsepeor ltused in the sxtenni of and ear rcneea in sne to iigxst asenn and the aee up of hu of the te of the yroerp to telipu snnae, ingdlcu 130,000 qeua te to sereha in tino. etalymit, ehrsae in otin ardsuch the enti rpreoy irgutt to ecoe its U.S. ed-utsera.
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