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.
INTLOU
otseumt rontkde tnsixee tiapl vpsemmrone to gir the rrpyoe no the uli-tnae aktr for the irt ie. epvrnomesm ee teragd at agicnsre the vteirtetsacn of the poryre to a iorgw mla etna rtka. pmoenesmvr cdudln a oplmee tanevoin of all iuligd bisbo and ostoser to “uytno lb” dtsanar, tlsiagln an on-ie ie, tnesi ntre, and nrefeeon etnr. ettsoum uti out cp eiff suti and edhivc DE-CS lvir radtans on one of the idlnius.
KWYAAE
eeh eerpnomvms leutds in the nsxeint of and rae enrcae in nes to iisgxt enans and the eae up of uh of the te of the errpyo to upltie nanes, dglnciu 130,000 uaqe te to aehres in itno. ttilaemy, easher in noit cadhsur the ntei pyrore ttrgui to ceoe its U.S. de-atuesr.
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