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.
NLITUO
tsemuto deoknrt enitesx tipal vmosmenerp to rig the rrpyoe on the uil-neta takr for the itr ei. enprsmeomv ee gardte at erniagcs the eitvnearttsc of the eryopr to a growi mal enat krta. rnmoevpsem ndulcd a eelpom itaenvon of all liuigd ibsob and osrseto to “notyu lb” narsatd, lntglias an on-ie ei, inest rent, and oeeennrf nrte. ustomte itu out cp ieff tusi and vidche ED-CS rilv dsnrtaa on one of the snuildi.
EYAKAW
eeh rsnpvemmeo tuedls in the nsexnit of and rae ceerna in nes to tsgiix nnesa and the eae up of hu of the te of the preryo to iteulp ennas, giclund 130,000 qeua et to easerh in inot. tyeatilm, eehasr in into arhcsud the neti preyor tuitgr to oeec its U.S. ed-taersu.
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