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.
TIUONL
mtosuet krentod xitnese tplai pnmmvorese to gir the pyorer no the ilu-ntea rtak for the tri ie. eomvmesrpn ee tegdar at cegasrni the etiscavntrte of the eoyprr to a rwogi lma taen atrk. srmvonemep dundcl a opleem etovinan of all iluigd osibb and tsrooes to “ynotu lb” aatdsrn, llstiagn an on-ie ei, estni nter, and eeronefn tner. tetomus uit out pc ifef suti and cihedv ED-CS vrli starnad on one of the dnlsiiu.
KEAYAW
hee pvrmensoem dulest in the tnxnise of and ear raeenc in sne to tgisxi eansn and the eae up of uh of the te of the rroype to piluet seann, dncgliu 130,000 quae et to asehre in tion. eilyttma, saeehr in itno chasrdu the inet ryeorp ttuigr to eoce its U.S. ed-ertasu.
TIUONL
mtosuet krentod xitnese tplai pnmmvorese to gir the pyorer no the ilu-ntea rtak for the tri ie. eomvmesrpn ee tegdar at cegasrni the etiscavntrte of the eoyprr to a rwogi lma taen atrk. srmvonemep dundcl a opleem etovinan of all iluigd osibb and tsrooes to “ynotu lb” aatdsrn, llstiagn an on-ie ei, estni nter, and eeronefn tner. tetomus uit out pc ifef suti and cihedv ED-CS vrli starnad on one of the dnlsiiu.
KEAYAW
hee pvrmensoem dulest in the tnxnise of and ear raeenc in sne to tgisxi eansn and the eae up of uh of the te of the rroype to piluet seann, dncgliu 130,000 quae et to asehre in tion. eilyttma, saeehr in itno chasrdu the inet ryeorp ttuigr to eoce its U.S. ed-ertasu.
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