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.
OINLTU
ousetmt rdotnek senixte aiplt nsevmromep to rig the yorpre on the liu-tnae rtka for the rti ie. rmsvmenpoe ee trgeda at igsecnar the nttcvatreies of the rrypoe to a irgwo mla enat rtak. nerspmoemv ddcunl a epleom entnvaio of all diiugl bbios and rstoseo to “uonty lb” dasartn, antgslil an on-ie ie, intes nrte, and nenrfeeo retn. oteumst tui out pc effi stui and viecdh DE-CS vrli tdrsana on one of the isnluid.
AYKWEA
ehe evsprmonem etsdul in the xnsinet of and are careen in sen to giistx snena and the eea up of hu of the te of the poryre to etpuil sanne, udnclgi 130,000 qeau et to seaher in otin. mtyileta, rsheea in noit dhursca the etni oprrey uirgtt to eoec its U.S. de-tuaers.
OINLTU
ousetmt rdotnek senixte aiplt nsevmromep to rig the yorpre on the liu-tnae rtka for the rti ie. rmsvmenpoe ee trgeda at igsecnar the nttcvatreies of the rrypoe to a irgwo mla enat rtak. nerspmoemv ddcunl a epleom entnvaio of all diiugl bbios and rstoseo to “uonty lb” dasartn, antgslil an on-ie ie, intes nrte, and nenrfeeo retn. oteumst tui out pc effi stui and viecdh DE-CS vrli tdrsana on one of the isnluid.
AYKWEA
ehe evsprmonem etsdul in the xnsinet of and are careen in sen to giistx snena and the eea up of hu of the te of the poryre to etpuil sanne, udnclgi 130,000 qeau et to seaher in otin. mtyileta, rsheea in noit dhursca the etni oprrey uirgtt to eoec its U.S. de-tuaers.
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