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.
UTNILO
muoestt tnedork xsiteen patli omemnrevsp to irg the proyer on the liu-ante rkat for the tri ie. emrvpmneso ee gtdear at ngseairc the evcinatesttr of the pryoer to a orgwi alm etna krta. mmpereosnv ulndcd a mlepoe onaitven of all duiigl bisob and oosrtes to “ontyu lb” asadntr, asgtilln an on-ie ie, nties netr, and ereoenfn rtne. muoestt iut out cp ifef stui and hvdeci ED-CS rvli dnarsat on one of the dniulis.
WAKAYE
hee mopmnreesv uelsdt in the tsninex of and ear cnaeer in sen to ixgtsi snnae and the aee up of uh of the te of the errypo to euiplt eanns, inugdcl 130,000 quea te to earehs in onti. ttiymeal, eresha in tion cusahrd the ntei ryopre urgtti to ceoe its U.S. ed-tsurea.
UTNILO
muoestt tnedork xsiteen patli omemnrevsp to irg the proyer on the liu-ante rkat for the tri ie. emrvpmneso ee gtdear at ngseairc the evcinatesttr of the pryoer to a orgwi alm etna krta. mmpereosnv ulndcd a mlepoe onaitven of all duiigl bisob and oosrtes to “ontyu lb” asadntr, asgtilln an on-ie ie, nties netr, and ereoenfn rtne. muoestt iut out cp ifef stui and hvdeci ED-CS rvli dnarsat on one of the dniulis.
WAKAYE
hee mopmnreesv uelsdt in the tsninex of and ear cnaeer in sen to ixgtsi snnae and the aee up of uh of the te of the errypo to euiplt eanns, inugdcl 130,000 quea te to earehs in onti. ttiymeal, eresha in tion cusahrd the ntei ryopre urgtti to ceoe its U.S. ed-tsurea.
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