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.
ULTOIN
umeotst knrdeot nestxie patil enporemmvs to igr the yproer no the lui-tean rakt for the rti ei. semnveopmr ee traedg at cgirsena the nctaveritset of the rpeory to a wroig lam taen rtak. npsmveemor ncudld a epoelm ennvioat of all iiulgd bsibo and trsoose to “yotun lb” ndtaars, anlilgts an on-ie ei, intes enrt, and erfoenne nrte. ttomesu tui out cp ffei isut and vidhec DE-CS rivl tdasarn on one of the niiusld.
AAYWKE
eeh voenmrmeps udsetl in the ixnstne of and aer reeacn in esn to gisxti snane and the eea up of hu of the te of the rypeor to pultei eansn, lgcidun 130,000 qaue et to serhea in itno. itmaetly, hraese in tnoi hsacrud the neti oyrpre rtuitg to ceeo its U.S. de-sueart.
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