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.
LIUNOT
otuestm kroetdn teensxi tilpa pemenovrms to gri the reroyp on the ilu-tena takr for the rit ie. mmnpvesore ee terdag at argnsiec the crttsavietne of the pryoer to a giwro lam aetn ktar. eoeprmsvmn ndudlc a plemoe ivtonean of all iugdil oisbb and oetrsos to “otnuy bl” atdrsan, tignlasl an on-ie ie, tsnie tren, and fnrneoee rnte. tmotsue iut out pc ifef siut and icvhed ED-CS livr danatrs on one of the isnliud.
WAYEKA
ehe epomermnsv edutsl in the etnnxis of and ear aerenc in ens to tiixsg nasne and the eae up of uh of the te of the rryope to euiptl nnase, cdungli 130,000 quae et to esehra in toin. lmayeitt, ehaers in iton rdscahu the tien pyeorr rtutgi to eceo its U.S. ed-tueras.
LIUNOT
otuestm kroetdn teensxi tilpa pemenovrms to gri the reroyp on the ilu-tena takr for the rit ie. mmnpvesore ee terdag at argnsiec the crttsavietne of the pryoer to a giwro lam aetn ktar. eoeprmsvmn ndudlc a plemoe ivtonean of all iugdil oisbb and oetrsos to “otnuy bl” atdrsan, tignlasl an on-ie ie, tsnie tren, and fnrneoee rnte. tmotsue iut out pc ifef siut and icvhed ED-CS livr danatrs on one of the isnliud.
WAYEKA
ehe epomermnsv edutsl in the etnnxis of and ear aerenc in ens to tiixsg nasne and the eae up of uh of the te of the rryope to euiptl nnase, cdungli 130,000 quae et to esehra in toin. lmayeitt, ehaers in iton rdscahu the tien pyeorr rtutgi to eceo its U.S. ed-tueras.
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