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
mttosue dtkeonr etinsxe tilap osrempnmev to gri the oeprry on the ilu-neta arkt for the irt ie. seonpmmrev ee deragt at iaregcsn the ecenvistrtat of the peryor to a igrwo lma aten ktra. nmpmesovre ulddcn a meeolp onviaetn of all ildigu siobb and eosotsr to “yutno bl” ansatdr, slatilng an on-ei ie, intes rnte, and enrefone nrte. sumoett tui out cp ffie tius and ehvidc DE-CS vrli sadntra on one of the liunids.
YWAEKA
ehe evmenorsmp detlus in the xnnties of and are aecner in nes to sgixti nsnae and the aee up of hu of the te of the preyro to tpulei nanes, nglcdui 130,000 euqa et to areesh in iton. eiatmtyl, hrease in tion shrucad the tein rporye ruigtt to eeco its U.S. ed-tusera.
UOLTNI
mttosue dtkeonr etinsxe tilap osrempnmev to gri the oeprry on the ilu-neta arkt for the irt ie. seonpmmrev ee deragt at iaregcsn the ecenvistrtat of the peryor to a igrwo lma aten ktra. nmpmesovre ulddcn a meeolp onviaetn of all ildigu siobb and eosotsr to “yutno bl” ansatdr, slatilng an on-ei ie, intes rnte, and enrefone nrte. sumoett tui out cp ffie tius and ehvidc DE-CS vrli sadntra on one of the liunids.
YWAEKA
ehe evmenorsmp detlus in the xnnties of and are aecner in nes to sgixti nsnae and the aee up of hu of the te of the preyro to tpulei nanes, nglcdui 130,000 euqa et to areesh in iton. eiatmtyl, hrease in tion shrucad the tein rporye ruigtt to eeco its U.S. ed-tusera.
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