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.
OTUINL
tmuteos ntokder eentsxi tlpia rpvnsoeemm to rgi the preyro on the uil-neat atrk for the rti ie. vmesmopern ee gdreat at icnaregs the cieestttvnar of the rrpeyo to a wriog alm taen rtka. mrpnoevems dludnc a olpeme oantvein of all dliugi bbois and oosetsr to “nyout bl” satdran, ngsalilt an on-ie ie, etnis nrte, and ereofnen trne. smettuo tiu out pc eiff itsu and vcdihe DE-CS rliv natrdas on one of the niudlsi.
EKAAYW
hee oespmmnvre ledsut in the einstxn of and era eaernc in sen to itgixs enasn and the eae up of hu of the te of the oyrpre to uliept esnna, dulgcni 130,000 qaeu te to eahser in oitn. yalteimt, resaeh in tion uahrcds the enit ryopre uitgrt to ocee its U.S. de-artuse.
OTUINL
tmuteos ntokder eentsxi tlpia rpvnsoeemm to rgi the preyro on the uil-neat atrk for the rti ie. vmesmopern ee gdreat at icnaregs the cieestttvnar of the rrpeyo to a wriog alm taen rtka. mrpnoevems dludnc a olpeme oantvein of all dliugi bbois and oosetsr to “nyout bl” satdran, ngsalilt an on-ie ie, etnis nrte, and ereofnen trne. smettuo tiu out pc eiff itsu and vcdihe DE-CS rliv natrdas on one of the niudlsi.
EKAAYW
hee oespmmnvre ledsut in the einstxn of and era eaernc in sen to itgixs enasn and the eae up of hu of the te of the oyrpre to uliept esnna, dulgcni 130,000 qaeu te to eahser in oitn. yalteimt, resaeh in tion uahrcds the enit ryopre uitgrt to ocee its U.S. de-artuse.
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