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.
IOTUNL
moteuts onkredt eestxni alpti rmsepvmoen to gri the yerrop no the uli-aten tark for the rti ie. osemnevrmp ee degatr at icngeras the tniavttrcese of the rpyero to a wgiro lam tane tark. vesnerommp dclnud a lemepo anovntie of all ldigui bbois and toesrso to “oyunt bl” andtrsa, lanltigs an on-ie ei, stnei rnte, and efnrenoe retn. omtuets uti out cp ffei istu and hdicve DE-CS rilv sdnraat on one of the snuiild.
WAAKEY
ehe pmenmsvero udlset in the inexnts of and rea ercaen in sen to igtsix esnna and the aee up of uh of the et of the reopyr to luietp ansen, iculdng 130,000 quea et to ehsaer in noti. tmyltiae, harees in toin curadsh the tnei pryroe ttirgu to eeoc its U.S. ed-arseut.
IOTUNL
moteuts onkredt eestxni alpti rmsepvmoen to gri the yerrop no the uli-aten tark for the rti ie. osemnevrmp ee degatr at icngeras the tniavttrcese of the rpyero to a wgiro lam tane tark. vesnerommp dclnud a lemepo anovntie of all ldigui bbois and toesrso to “oyunt bl” andtrsa, lanltigs an on-ie ei, stnei rnte, and efnrenoe retn. omtuets uti out cp ffei istu and hdicve DE-CS rilv sdnraat on one of the snuiild.
WAAKEY
ehe pmenmsvero udlset in the inexnts of and rea ercaen in sen to igtsix esnna and the aee up of uh of the et of the reopyr to luietp ansen, iculdng 130,000 quea et to ehsaer in noti. tmyltiae, harees in toin curadsh the tnei pryroe ttirgu to eeoc its U.S. ed-arseut.
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