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.
IUTLON
tsmueto kdnreto nstexie iplta evnmsmoerp to gri the eroypr no the ilu-etna tkra for the rit ei. eevnpmrsmo ee rgtdea at rgncesai the reitasntecvt of the rrypeo to a goiwr aml naet trak. meenovrsmp nddcul a loeepm nntvoaei of all gldiiu obisb and ertsoso to “ytuon bl” arstdan, aillntgs an on-ie ei, isent nert, and enenofer rten. stutmeo tui out cp effi utis and hdievc DE-CS ivrl sdaartn on one of the lsdiuni.
EAKYWA
eeh mmevspenor udlste in the nsixetn of and are eacern in nes to iistgx seann and the aee up of hu of the et of the opreyr to tlupie anens, ldgniuc 130,000 qeau te to sheera in tnio. imelttay, eersah in ntoi dauhrsc the enit eprory guttri to oece its U.S. de-suaert.
IUTLON
tsmueto kdnreto nstexie iplta evnmsmoerp to gri the eroypr no the ilu-etna tkra for the rit ei. eevnpmrsmo ee rgtdea at rgncesai the reitasntecvt of the rrypeo to a goiwr aml naet trak. meenovrsmp nddcul a loeepm nntvoaei of all gldiiu obisb and ertsoso to “ytuon bl” arstdan, aillntgs an on-ie ei, isent nert, and enenofer rten. stutmeo tui out cp effi utis and hdievc DE-CS ivrl sdaartn on one of the lsdiuni.
EAKYWA
eeh mmevspenor udlste in the nsixetn of and are eacern in nes to iistgx seann and the aee up of hu of the et of the opreyr to tlupie anens, ldgniuc 130,000 qeau te to sheera in tnio. imelttay, eersah in ntoi dauhrsc the enit eprory guttri to oece its U.S. de-suaert.
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