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.
UTIOLN
etsomut roedktn etexisn plati repvneomms to gri the poerry on the uil-ante aktr for the irt ei. mmponvrees ee egadrt at cenigasr the ctivrttsanee of the preryo to a rgoiw lam eatn tkra. rmpseeomvn cldndu a lpoeme noanitve of all uiilgd biobs and otrsose to “ntoyu bl” snadrta, angtills an on-ie ei, tsein ntre, and eernfone nret. eoutmst uit out pc fief itus and ichdev ED-CS vrli darstan on one of the iilduns.
WAAKYE
hee vnmpmseeor setldu in the itnensx of and ear cenaer in sne to ixigts easnn and the aee up of uh of the et of the yprore to ptulie sanen, lcdungi 130,000 ueaq te to eesrha in noit. imyeatlt, esreha in iton cuahsdr the neit rypero rgttiu to eeco its U.S. ed-artseu.
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