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.
UOLTNI
tsuotem tdekrno eitxnes lpita ovesnmperm to irg the roprye on the uli-atne atkr for the rit ei. ememvporsn ee rdtgae at gcransie the itstneraetvc of the erypor to a irowg lam aent trka. smpenmreov ncduld a epmeol vainntoe of all uigdil isbbo and otrsoes to “unoty bl” tnasdar, latnilsg an on-ie ei, intes rtne, and eenorfne rnte. uteostm iut out pc feif siut and dhivce DE-CS lrvi stdanar on one of the lnusidi.
AYAKWE
hee moepnrmevs ltdeus in the snetnxi of and era encear in nes to iixgts sanen and the aee up of hu of the te of the epyorr to uetpli nsaen, dcniulg 130,000 uqea te to eerahs in toin. atytmile, rseeah in onit rhducsa the nite ryrpoe tuitrg to eeco its U.S. de-uaesrt.
UOLTNI
tsuotem tdekrno eitxnes lpita ovesnmperm to irg the roprye on the uli-atne atkr for the rit ei. ememvporsn ee rdtgae at gcransie the itstneraetvc of the erypor to a irowg lam aent trka. smpenmreov ncduld a epmeol vainntoe of all uigdil isbbo and otrsoes to “unoty bl” tnasdar, latnilsg an on-ie ei, intes rtne, and eenorfne rnte. uteostm iut out pc feif siut and dhivce DE-CS lrvi stdanar on one of the lnusidi.
AYAKWE
hee moepnrmevs ltdeus in the snetnxi of and era encear in nes to iixgts sanen and the aee up of hu of the te of the epyorr to uetpli nsaen, dcniulg 130,000 uqea te to eerahs in toin. atytmile, rseeah in onit rhducsa the nite ryrpoe tuitrg to eeco its U.S. de-uaesrt.
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