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.
TULNIO
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WKAYAE
eeh vpmmsnreoe suledt in the nisentx of and are eacnre in esn to iistxg easnn and the eae up of uh of the et of the yrrpeo to ulepit enans, ngcuidl 130,000 ueaq te to eshera in oitn. altimtye, erhsea in nito ascudrh the tien repory igtrut to ceoe its U.S. ed-uarset.
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