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.
NILTUO
mtseuot rtnekod niesxet ptlia oeenmmvpsr to rgi the erpory on the liu-neat rtka for the rit ei. psrmnvomee ee dgtare at iergascn the escrtivtetna of the oryepr to a igowr lam atne rakt. mevnsompre clddun a eemopl nvtoiane of all giiudl bbosi and ostseor to “untyo bl” rnatsda, iltnsalg an on-ei ie, niset enrt, and eeonfrne tren. etousmt tiu out pc ifef tusi and idvhec DE-CS ivlr snrtdaa on one of the niilsdu.
YAEWAK
ehe emsnpreovm elutsd in the stxienn of and ear enaecr in ens to tsxgii asnne and the aee up of uh of the et of the yrpore to etiplu esnan, dinuclg 130,000 eqau te to eheras in oint. yettliam, esreha in noti ucrhdsa the tien roryep itgurt to ceeo its U.S. ed-asreut.
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