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.
LINOUT
oseuttm dnorekt enitexs tlaip msrnoveepm to rgi the rpeoyr no the liu-ante aktr for the tir ie. nmsvroepme ee tgdare at crsngiae the vseaetctnirt of the rpyeor to a rigwo mal eatn akrt. smnmrvepeo dudnlc a meeplo nintaove of all iulgid bisbo and sorstoe to “ouynt bl” traasdn, lnligsta an on-ie ei, neits entr, and ofenener tner. otuetsm tiu out cp eiff itus and cihevd ED-CS rliv dstnaar on one of the lidnuis.
KAAEWY
eeh eemmpnvros ldsute in the sentnix of and aer erncae in sen to xitisg nnaes and the eea up of hu of the te of the yeporr to pileut nasne, gncuidl 130,000 ueaq et to aherse in tion. amelttiy, ehsrea in ntio cuasdhr the tine ryrope ugttri to coee its U.S. de-tauesr.
View All
