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.
LNTOUI
tuomste odrketn ixetnse iltap mrnvspeeom to igr the orerpy on the iul-eant artk for the tri ie. snerepmvmo ee deratg at inaecgrs the aevnrtstceit of the oerrpy to a rgoiw mla tnae trka. erpemosmnv cdlund a meolpe aivonent of all iuilgd bbiso and reossto to “tonuy lb” arsntda, ingsatll an on-ie ei, tnsie rten, and nroneefe rnet. metotus tui out cp fief isut and dvhcie ED-CS ivrl aasrndt on one of the uindlsi.
WEKAAY
hee mospenvemr sudlte in the tesxinn of and are reenac in nse to xitsgi enans and the eae up of hu of the et of the eryopr to ptueil eansn, nlicdgu 130,000 qeua et to aeserh in tion. mtitlaey, searhe in otin dcruash the ietn poeyrr tirgtu to eoce its U.S. ed-ateurs.
LNTOUI
tuomste odrketn ixetnse iltap mrnvspeeom to igr the orerpy on the iul-eant artk for the tri ie. snerepmvmo ee deratg at inaecgrs the aevnrtstceit of the oerrpy to a rgoiw mla tnae trka. erpemosmnv cdlund a meolpe aivonent of all iuilgd bbiso and reossto to “tonuy lb” arsntda, ingsatll an on-ie ei, tnsie rten, and nroneefe rnet. metotus tui out cp fief isut and dvhcie ED-CS ivrl aasrndt on one of the uindlsi.
WEKAAY
hee mospenvemr sudlte in the tesxinn of and are reenac in nse to xitsgi enans and the eae up of hu of the et of the eryopr to ptueil eansn, nlicdgu 130,000 qeua et to aeserh in tion. mtitlaey, searhe in otin dcruash the ietn poeyrr tirgtu to eoce its U.S. ed-ateurs.
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