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.
LONTIU
emsoutt dnrtkeo xnsieet tapil oemnespmrv to gir the oprrey on the iul-ntea ratk for the tri ie. semrvmnepo ee dgetar at reascngi the eettictarnvs of the preoyr to a ogirw lma nate rkat. rovsemmnep nuddcl a lpmeeo ievanton of all ligidu osibb and roestos to “uoytn lb” rsnatad, tslinalg an on-ie ei, isten netr, and nrenofee rtne. ttmoeus uit out pc efif stiu and cdhive ED-CS vrli sntarad on one of the iidnlsu.
WEKAAY
eeh verosnmmpe tlused in the xsinetn of and rae aerecn in ens to igitxs annes and the eea up of uh of the et of the roeryp to eluitp sanen, cilgdnu 130,000 eqau et to hsreae in into. aytmtlei, srehae in onit rscduha the etin rorpye gittur to ocee its U.S. ed-taerus.
LONTIU
emsoutt dnrtkeo xnsieet tapil oemnespmrv to gir the oprrey on the iul-ntea ratk for the tri ie. semrvmnepo ee dgetar at reascngi the eettictarnvs of the preoyr to a ogirw lma nate rkat. rovsemmnep nuddcl a lpmeeo ievanton of all ligidu osibb and roestos to “uoytn lb” rsnatad, tslinalg an on-ie ei, isten netr, and nrenofee rtne. ttmoeus uit out pc efif stiu and cdhive ED-CS vrli sntarad on one of the iidnlsu.
WEKAAY
eeh verosnmmpe tlused in the xsinetn of and rae aerecn in ens to igitxs annes and the eea up of uh of the et of the roeryp to eluitp sanen, cilgdnu 130,000 eqau et to hsreae in into. aytmtlei, srehae in onit rscduha the etin rorpye gittur to ocee its U.S. ed-taerus.
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