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.
NOTIUL
mtosteu dtokren xensite iatlp smvoepmnre to gri the orpeyr on the ilu-eatn atrk for the rit ei. eevopmnsmr ee drtgae at sncgeiar the nvatteistrce of the prorey to a iwogr mla neat ktar. sveenrmmop ldcudn a lmoeep vtaeinon of all iligdu oibsb and otsoser to “toynu bl” sndaatr, gtalisln an on-ie ie, einst tenr, and enernoef etrn. eumostt uit out pc efif tius and chevid ED-CS virl drtsnaa on one of the idisnul.
EYWAKA
ehe eompsvenrm tuesdl in the nsxtnei of and are creane in nes to xisgit nasen and the eae up of uh of the te of the rypeor to lteupi nsnae, dugicln 130,000 aueq et to sreahe in noit. attliyem, esrahe in itno arsudch the ient eporry ttruig to oece its U.S. ed-uersat.
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