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.
OTUNLI
ueomstt odrknet tnesxie apilt orvpsmemne to rig the yorerp no the lui-enta krta for the rti ie. remmpsneov ee greadt at aisencgr the atvesticentr of the rrypoe to a wiorg mal tnae trka. msvmonreep duldcn a mpleeo nveotani of all diulgi ibosb and eoosrts to “oyntu lb” srantda, gllatins an on-ie ie, ietsn rten, and ofnneree netr. oteustm uti out cp fife situ and cevdhi DE-CS rliv rsndaat on one of the nuiisld.
WAAYKE
hee prvsnmeoem dslute in the nitnxse of and ear aenrce in nes to xgisit nsean and the eae up of hu of the te of the eroyrp to tlpeiu nensa, cnlugid 130,000 aque et to sareeh in into. aieytmtl, eahrse in toin aucshdr the ietn roepyr tutgir to ecoe its U.S. ed-eustra.
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