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.
LIONTU
ottsuem etnkdor etnisxe tlaip mepnovrmes to irg the orpyre no the uli-aten rtka for the tri ie. pmvoenrems ee rgaedt at rcagiesn the etnctvsareit of the opyrre to a oirgw alm naet takr. mvmsproene nddluc a epemlo nnoveait of all gliidu sbibo and tseroso to “unyot bl” raatnds, altgsnli an on-ei ei, ietsn ntre, and fnrnoeee tner. tomesut iut out pc effi iuts and hevidc ED-CS livr astdarn on one of the ludniis.
YKWAAE
eeh nesmmrevop etsudl in the nsienxt of and era cnerea in ens to xgiits snaen and the aee up of uh of the te of the oepyrr to ipulte annes, dulicng 130,000 eqau et to rhease in into. mylatiet, aeehsr in iotn udharcs the itne eyrpro utgitr to ocee its U.S. ed-tserau.
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