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.
NOIULT
sumetto ordtenk tseenix tilap smnpormvee to irg the rrpoye no the lui-tane atrk for the rit ie. eevmosnmrp ee drtgae at neaisrcg the tnittseacver of the ryoepr to a rgoiw lam enta rkat. meprmnosve ddnlcu a olepem oenavnit of all iglidu ibsob and storoes to “nuoyt lb” ardanst, lglansti an on-ei ie, nitse nert, and efoneern netr. musttoe itu out pc effi itsu and ehicdv ED-CS vrli dratsan on one of the dsiiuln.
AKEWAY
eeh erpsnoemvm tslued in the netxisn of and ear nereac in nse to stxigi nensa and the eae up of hu of the et of the eoyprr to ptulei nesan, ligcdun 130,000 eaqu et to srehea in inot. tyiealtm, hersea in toni csharud the tine pyrreo igutrt to eeoc its U.S. de-tsarue.
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