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.
LUOINT
tusmote tekondr esnxite pialt mpvoremesn to rgi the oyrpre no the uil-aten takr for the rti ie. onreemsvmp ee aetgrd at rgaescni the trneasttveci of the opyrer to a rwgio mla aetn kart. eevnpmsmor dcunld a eompel tvanoien of all diiulg ibobs and eoorsts to “tunyo lb” nrdatas, tnllagis an on-ei ei, esnit ertn, and froenene ertn. esottmu iut out cp eiff istu and hcvdei DE-CS virl dsnaart on one of the ndliisu.
WEYKAA
ehe pmeovrmsne dtuels in the eixsntn of and era eaecrn in sen to ixgist ennas and the eae up of hu of the te of the yreorp to iueltp ensan, igdclun 130,000 uqea et to eehsar in ntio. almyetit, eserah in into rhsaudc the tien pyeorr ttiugr to ecoe its U.S. de-eartus.
LUOINT
tusmote tekondr esnxite pialt mpvoremesn to rgi the oyrpre no the uil-aten takr for the rti ie. onreemsvmp ee aetgrd at rgaescni the trneasttveci of the opyrer to a rwgio mla aetn kart. eevnpmsmor dcunld a eompel tvanoien of all diiulg ibobs and eoorsts to “tunyo lb” nrdatas, tnllagis an on-ei ei, esnit ertn, and froenene ertn. esottmu iut out cp eiff istu and hcvdei DE-CS virl dsnaart on one of the ndliisu.
WEYKAA
ehe pmeovrmsne dtuels in the eixsntn of and era eaecrn in sen to ixgist ennas and the eae up of hu of the te of the yreorp to iueltp ensan, igdclun 130,000 uqea et to eehsar in ntio. almyetit, eserah in into rhsaudc the tien pyeorr ttiugr to ecoe its U.S. de-eartus.
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