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.
LUNTIO
msetuot tenrdok tniesxe pltai vpeonmsmer to irg the rroype on the ilu-tnae tkra for the irt ie. eomsmenrvp ee daregt at sngiaerc the stctvateerni of the yorepr to a irwgo alm tnae rkat. mveorspenm udndlc a meeplo oteninav of all diluig obibs and sroteos to “ytonu bl” natsdar, lnisglta an on-ei ie, neist ntre, and oreneefn rnte. tmutsoe iut out pc efif utsi and dvecih ED-CS rlvi ntrasda on one of the linduis.
WKAAYE
ehe eopresmmnv suledt in the nsinxet of and era cnreae in nse to stixig senna and the aee up of uh of the te of the yrpreo to iuplet annes, clindug 130,000 uaqe te to arhees in onti. teitlmya, sreeha in otin ucshdra the eint eyrrop ttiugr to eeco its U.S. ed-steura.
LUNTIO
msetuot tenrdok tniesxe pltai vpeonmsmer to irg the rroype on the ilu-tnae tkra for the irt ie. eomsmenrvp ee daregt at sngiaerc the stctvateerni of the yorepr to a irwgo alm tnae rkat. mveorspenm udndlc a meeplo oteninav of all diluig obibs and sroteos to “ytonu bl” natsdar, lnisglta an on-ei ie, neist ntre, and oreneefn rnte. tmutsoe iut out pc efif utsi and dvecih ED-CS rlvi ntrasda on one of the linduis.
WKAAYE
ehe eopresmmnv suledt in the nsinxet of and era cnreae in nse to stixig senna and the aee up of uh of the te of the yrpreo to iuplet annes, clindug 130,000 uaqe te to arhees in onti. teitlmya, sreeha in otin ucshdra the eint eyrrop ttiugr to eeco its U.S. ed-steura.
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