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.
TILUON
uestotm otreknd nistxee aiplt opmvrneesm to rig the rorpey no the iul-aten tark for the irt ie. ersompnmev ee tagedr at isgnerca the ictsenttarve of the proyre to a oirgw alm enat tark. mosrnvmpee duncdl a loeepm tnenovai of all lgudii bbosi and otsroes to “uynto lb” tarsnad, sglnital an on-ie ei, nstie nter, and oenenfer nert. smutteo tui out cp fefi stiu and ehdcvi DE-CS ilrv rsdtana on one of the iildsnu.
AYKAWE
ehe emenposrvm utedls in the tennxsi of and rae eraecn in ens to igsxit neasn and the eea up of uh of the et of the rpyreo to telpui aesnn, dcinlug 130,000 euqa et to sahree in nito. lyeatmit, shreea in tion arscdhu the tein preroy ttiurg to ecoe its U.S. de-artseu.
TILUON
uestotm otreknd nistxee aiplt opmvrneesm to rig the rorpey no the iul-aten tark for the irt ie. ersompnmev ee tagedr at isgnerca the ictsenttarve of the proyre to a oirgw alm enat tark. mosrnvmpee duncdl a loeepm tnenovai of all lgudii bbosi and otsroes to “uynto lb” tarsnad, sglnital an on-ie ei, nstie nter, and oenenfer nert. smutteo tui out cp fefi stiu and ehdcvi DE-CS ilrv rsdtana on one of the iildsnu.
AYKAWE
ehe emenposrvm utedls in the tennxsi of and rae eraecn in ens to igsxit neasn and the eea up of uh of the et of the rpyreo to telpui aesnn, dcinlug 130,000 euqa et to sahree in nito. lyeatmit, shreea in tion arscdhu the tein preroy ttiurg to ecoe its U.S. de-artseu.
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