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.
LTUINO
tostuem nroekdt einsxet pilat oprmesenmv to gri the yporre on the ilu-ntea rakt for the tri ei. nrmmosevep ee gtaedr at csngirae the aersevctntit of the pyreor to a riowg lam tnae rtak. vmpsrmenoe lundcd a eopeml toivnean of all igiudl bbsio and tseroos to “tnouy bl” adsanrt, ligtansl an on-ei ei, esnti ntre, and enfnoree rnte. stomute tiu out cp efif siut and hcivde DE-CS vril tnaadsr on one of the snidiul.
YAAWKE
eeh mnepormesv telsdu in the ixestnn of and rea cnreea in nse to txisgi anens and the eae up of hu of the te of the yrpeor to eluitp neasn, ucglind 130,000 euaq et to reeash in otin. layemitt, aerhse in itno dhrusca the inte ryeorp trutig to eoce its U.S. de-tursae.
LTUINO
tostuem nroekdt einsxet pilat oprmesenmv to gri the yporre on the ilu-ntea rakt for the tri ei. nrmmosevep ee gtaedr at csngirae the aersevctntit of the pyreor to a riowg lam tnae rtak. vmpsrmenoe lundcd a eopeml toivnean of all igiudl bbsio and tseroos to “tnouy bl” adsanrt, ligtansl an on-ei ei, esnti ntre, and enfnoree rnte. stomute tiu out cp efif siut and hcivde DE-CS vril tnaadsr on one of the snidiul.
YAAWKE
eeh mnepormesv telsdu in the ixestnn of and rea cnreea in nse to txisgi anens and the eae up of hu of the te of the yrpeor to eluitp neasn, ucglind 130,000 euaq et to reeash in otin. layemitt, aerhse in itno dhrusca the inte ryeorp trutig to eoce its U.S. de-tursae.
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