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.
TNULIO
ueomtst kdtreon isextne palit pommnerevs to gri the oeprry on the iul-enat atkr for the irt ei. snvpmemore ee teagdr at iesargcn the satvneerictt of the roeyrp to a owgri lma ntea arkt. msmepevonr ncuddl a eeplom anvetion of all lgiidu biosb and roosste to “utony bl” nradsat, aslinltg an on-ei ei, stnie tern, and nonrefee rnet. uemstto uit out pc efif situ and chvdei DE-CS rivl tanrasd on one of the uinilsd.
EYAKWA
ehe epmneovmsr dueslt in the tsexnin of and aer aencre in ens to tgxiis sanen and the eae up of hu of the te of the roeyrp to itulpe asnen, gcndliu 130,000 eauq te to srahee in otni. ttmlyeai, heesar in oitn dasuhcr the tien oyrerp uitrgt to eoec its U.S. ed-teusra.
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