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.
ITLNOU
etsomtu ndrkeot iesexnt lipat vmomepesrn to gri the eprryo no the uil-naet rkat for the rit ei. mpenmvreso ee eragtd at ingrceas the tenrtviscate of the rpyreo to a oigwr lam anet rtka. povemsrnme nldduc a loeepm inonatve of all udilgi osbbi and soeorts to “ouytn lb” sntadra, gasnllti an on-ie ie, isnte rnet, and enreonfe tenr. tsmeuot uit out cp eiff tius and dvecih ED-CS irvl andrast on one of the duilins.
EKAWAY
ehe eeposmnmrv etlsdu in the tnxeisn of and ear anecre in nse to tisxig enasn and the eea up of hu of the te of the eroryp to iptleu neans, dulngic 130,000 uqae et to erhesa in noti. tmiytlea, erashe in itno acruhsd the enit rorpye guitrt to ceoe its U.S. de-taeusr.
ITLNOU
etsomtu ndrkeot iesexnt lipat vmomepesrn to gri the eprryo no the uil-naet rkat for the rit ei. mpenmvreso ee eragtd at ingrceas the tenrtviscate of the rpyreo to a oigwr lam anet rtka. povemsrnme nldduc a loeepm inonatve of all udilgi osbbi and soeorts to “ouytn lb” sntadra, gasnllti an on-ie ie, isnte rnet, and enreonfe tenr. tsmeuot uit out cp eiff tius and dvecih ED-CS irvl andrast on one of the duilins.
EKAWAY
ehe eeposmnmrv etlsdu in the tnxeisn of and ear anecre in nse to tisxig enasn and the eea up of hu of the te of the eroryp to iptleu neans, dulngic 130,000 uqae et to erhesa in noti. tmiytlea, erashe in itno acruhsd the enit rorpye guitrt to ceoe its U.S. de-taeusr.
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