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.
OLIUTN
tetuoms ednkrto xsneeit alpti srmvneoemp to igr the orepyr on the iul-tnea katr for the rit ie. eoremsmnpv ee grteda at egsnairc the cnttasvetier of the repyor to a rgiwo aml tean takr. moerspevmn cddunl a polmee eiovtnna of all ligidu bsiob and trsseoo to “uytno bl” ndraats, nlsialgt an on-ei ie, iestn tenr, and rfoenene tren. tsuetmo uit out cp fefi tius and ivchde DE-CS ilrv daratns on one of the dnliusi.
EAKAYW
eeh psrmoemenv sudlte in the ntixsen of and rae aeernc in nse to siitgx nasne and the eea up of hu of the et of the opyrre to puielt ennsa, uncgidl 130,000 qaue te to aseerh in tion. teltmayi, earseh in toni haursdc the neit roprye rutitg to ecoe its U.S. de-uretsa.
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