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.
UTLINO
teusomt rteodkn eeitnxs ltpia esmmrenopv to rig the epryor no the lui-ntae rtak for the irt ei. esoermpnvm ee gedrta at rncigaes the retsevtitacn of the poyrer to a rwgio aml aetn akrt. snmemrpvoe cdnlud a oepmle iaotvenn of all liudgi bobis and srteoos to “noytu bl” ndtsaar, sangitll an on-ei ie, stien ntre, and efonnere rtne. mtouste uit out pc ieff tius and icedvh ED-CS vril rndtsaa on one of the insidul.
AAKWEY
hee nsmvmeroep esludt in the enxnsit of and rea recean in ens to tigisx nasne and the eea up of hu of the te of the epryor to uipetl annse, nudlcgi 130,000 uaqe et to aeshre in noit. tamyietl, sahree in noti csrahud the nite opyrer turtgi to eeoc its U.S. ed-surate.
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