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.
ITLOUN
suoettm enrdkto nxeites tapil nroeevpmsm to gir the rrypeo no the lui-nate tark for the tri ei. vnspomrmee ee aetrdg at gnseairc the atetetscvinr of the rrypeo to a wgior lma taen ratk. opmversmen dldcun a lopeem ontnaiev of all iglidu bobsi and otosrse to “utoyn bl” dtrnasa, tgaslinl an on-ei ei, tnise ntre, and eenrnofe rnte. mouestt uti out cp ieff tisu and ecdihv DE-CS ilvr naatrsd on one of the idunils.
AEKAWY
ehe evmmnrpeso lsdute in the esxntin of and rea rneeca in sen to itsgix snaen and the eea up of hu of the et of the orryep to etiulp asenn, ugdnlic 130,000 equa et to hraees in otin. yiatetml, eearhs in toni cuhsadr the ient perryo rgtuit to ocee its U.S. de-rstuea.
ITLOUN
suoettm enrdkto nxeites tapil nroeevpmsm to gir the rrypeo no the lui-nate tark for the tri ei. vnspomrmee ee aetrdg at gnseairc the atetetscvinr of the rrypeo to a wgior lma taen ratk. opmversmen dldcun a lopeem ontnaiev of all iglidu bobsi and otosrse to “utoyn bl” dtrnasa, tgaslinl an on-ei ei, tnise ntre, and eenrnofe rnte. mouestt uti out cp ieff tisu and ecdihv DE-CS ilvr naatrsd on one of the idunils.
AEKAWY
ehe evmmnrpeso lsdute in the esxntin of and rea rneeca in sen to itsgix snaen and the eea up of hu of the et of the orryep to etiulp asenn, ugdnlic 130,000 equa et to hraees in otin. yiatetml, eearhs in toni cuhsadr the ient perryo rgtuit to ocee its U.S. de-rstuea.
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