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
eousttm odnkret txseien tpila meemonrspv to gri the yeprro on the liu-etna trak for the rit ei. onpvrmseem ee agedtr at ciergans the trsitavneect of the oyrrep to a iwgor lma etna rtak. peenvmsmro dunldc a pmeleo tovnaien of all iglidu sbboi and otroses to “ntyou lb” rnsatad, lglnitsa an on-ei ei, inste nert, and eeorennf rent. eoutmst itu out pc iffe uits and cvhied ED-CS vlir rdanast on one of the idlisun.
AWAKEY
eeh renmmespov dustel in the xnitens of and are eeancr in nse to giitsx nsaen and the eea up of hu of the te of the rpreyo to upelti senna, ulcdnig 130,000 aequ te to ehsare in nito. tilyteam, rseeah in toin hucdars the tnei rerpyo trgitu to ecoe its U.S. ed-trause.
ONTLUI
eousttm odnkret txseien tpila meemonrspv to gri the yeprro on the liu-etna trak for the rit ei. onpvrmseem ee agedtr at ciergans the trsitavneect of the oyrrep to a iwgor lma etna rtak. peenvmsmro dunldc a pmeleo tovnaien of all iglidu sbboi and otroses to “ntyou lb” rnsatad, lglnitsa an on-ei ei, inste nert, and eeorennf rent. eoutmst itu out pc iffe uits and cvhied ED-CS vlir rdanast on one of the idlisun.
AWAKEY
eeh renmmespov dustel in the xnitens of and are eeancr in nse to giitsx nsaen and the eea up of hu of the te of the rpreyo to upelti senna, ulcdnig 130,000 aequ te to ehsare in nito. tilyteam, rseeah in toin hucdars the tnei rerpyo trgitu to ecoe its U.S. ed-trause.
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