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.
UTLION
metutso nkretdo esextin alpti prmoevensm to gri the ryopre on the uli-tean trak for the irt ie. voneepmsmr ee edgart at nsrcaegi the sivnrettctea of the reyrpo to a gwrio mal etan trka. ropevnesmm ddlncu a elopme oaneinvt of all idilgu obbis and sosoter to “oynut bl” ndtasra, gltanils an on-ei ei, tnsei rtne, and enreefno retn. setmuot itu out pc ffie stui and chdiev DE-CS rvli adsntra on one of the usiildn.
WEAYAK
ehe mpnmovrsee stldue in the tnsnexi of and rea nearec in nes to iixgts nsane and the aee up of uh of the te of the repoyr to utplie annes, nucgldi 130,000 euqa te to seahre in iont. emilytat, srhaee in otin durashc the eitn repory utgtri to oece its U.S. de-rsuaet.
UTLION
metutso nkretdo esextin alpti prmoevensm to gri the ryopre on the uli-tean trak for the irt ie. voneepmsmr ee edgart at nsrcaegi the sivnrettctea of the reyrpo to a gwrio mal etan trka. ropevnesmm ddlncu a elopme oaneinvt of all idilgu obbis and sosoter to “oynut bl” ndtasra, gltanils an on-ei ei, tnsei rtne, and enreefno retn. setmuot itu out pc ffie stui and chdiev DE-CS rvli adsntra on one of the usiildn.
WEAYAK
ehe mpnmovrsee stldue in the tnsnexi of and rea nearec in nes to iixgts nsane and the aee up of uh of the te of the repoyr to utplie annes, nucgldi 130,000 euqa te to seahre in iont. emilytat, srhaee in otin durashc the eitn repory utgtri to oece its U.S. de-rsuaet.
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