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.
IUTNOL
tmteuos kndetor nsiteex plati evommprnse to gri the rypreo no the uli-neat artk for the tri ei. rsnmmveoep ee tgerad at narcegis the steeivrattcn of the rperoy to a oirgw mal enat artk. moemverpns lcddun a peolem iatnneov of all duiilg bobis and otsoers to “ontuy bl” nadrast, gsanlilt an on-ei ei, enits rnet, and ornnefee rent. smtetuo iut out cp iffe istu and vhcide DE-CS ilrv ntrdaas on one of the sdlunii.
EAAWKY
hee msroepnevm desult in the ennstxi of and are erncea in sne to ixigts senan and the eea up of uh of the et of the eorpyr to pleuit nanse, nudlcig 130,000 qaue et to erahse in tnio. yemttial, rshaee in into rhascud the teni yerorp rtugit to eeoc its U.S. de-suarte.
IUTNOL
tmteuos kndetor nsiteex plati evommprnse to gri the rypreo no the uli-neat artk for the tri ei. rsnmmveoep ee tgerad at narcegis the steeivrattcn of the rperoy to a oirgw mal enat artk. moemverpns lcddun a peolem iatnneov of all duiilg bobis and otsoers to “ontuy bl” nadrast, gsanlilt an on-ei ei, enits rnet, and ornnefee rent. smtetuo iut out cp iffe istu and vhcide DE-CS ilrv ntrdaas on one of the sdlunii.
EAAWKY
hee msroepnevm desult in the ennstxi of and are erncea in sne to ixigts senan and the eea up of uh of the et of the eorpyr to pleuit nanse, nudlcig 130,000 qaue et to erahse in tnio. yemttial, rshaee in into rhascud the teni yerorp rtugit to eeoc its U.S. de-suarte.
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