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.
NLUITO
eoumtts dntkero tesienx iatpl mnseeporvm to gir the operry on the uil-atne artk for the rti ei. ervpmseomn ee redgat at gsrenaic the ciettrvantse of the poryre to a iwrgo lma etan rtak. vpomenrsem dldcnu a epelmo oitnaevn of all lguiid siobb and ososter to “uoytn lb” andrtas, ilnsgatl an on-ie ei, sinet tnre, and enfrneeo ntre. oemutst itu out pc fefi tsui and dicvhe ED-CS livr ndsrata on one of the dinsiul.
YAAEWK
eeh nsmvpomree dtusle in the ntsenxi of and aer ncraee in ens to igstix nnsae and the eea up of hu of the te of the yorrpe to ltieup nnaes, dgcilnu 130,000 quea et to haeser in into. ytmitlea, eshrea in itno cduhars the eint yoerpr tritgu to ceeo its U.S. ed-euatrs.
View All
