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.
OLUNTI
ouemtst edontrk xnteesi ipalt svomernpem to gir the erryop no the uil-tena kart for the rti ie. rmnepseomv ee egatdr at nicgresa the trcnaitsetve of the pyeror to a gwiro mal anet takr. vnemrmpoes dnulcd a oeelmp oanentvi of all igiudl ibobs and osserot to “untyo lb” nrtdasa, iaglnlts an on-ie ie, itesn retn, and nenefroe etrn. setmout uti out pc fife stui and deivhc DE-CS livr saantrd on one of the diulins.
AAEKYW
ehe mmeeonprsv eulsdt in the eitnxsn of and rae aenecr in nes to istxig asenn and the aee up of uh of the te of the reyopr to eupilt nasne, diunlcg 130,000 euqa te to eahser in nito. miytetal, hesare in noti usrdach the nite repory tuitrg to ocee its U.S. de-ersatu.
OLUNTI
ouemtst edontrk xnteesi ipalt svomernpem to gir the erryop no the uil-tena kart for the rti ie. rmnepseomv ee egatdr at nicgresa the trcnaitsetve of the pyeror to a gwiro mal anet takr. vnemrmpoes dnulcd a oeelmp oanentvi of all igiudl ibobs and osserot to “untyo lb” nrtdasa, iaglnlts an on-ie ie, itesn retn, and nenefroe etrn. setmout uti out pc fife stui and deivhc DE-CS livr saantrd on one of the diulins.
AAEKYW
ehe mmeeonprsv eulsdt in the eitnxsn of and rae aenecr in nes to istxig asenn and the aee up of uh of the te of the reyopr to eupilt nasne, diunlcg 130,000 euqa te to eahser in nito. miytetal, hesare in noti usrdach the nite repory tuitrg to ocee its U.S. de-ersatu.
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