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.
INLUTO
mtoesut oentdrk nsxteei altip evemsrpnmo to gir the oeprry no the lui-tean aktr for the itr ei. vsmompneer ee rtdgae at iasgncre the sttrteciaven of the repyor to a ogrwi lam aent rakt. venpmmsore udnldc a epoeml nnveoait of all liidug sobbi and roeosts to “uyont lb” ndtaars, igslantl an on-ie ie, sntie ertn, and feoeenrn ernt. omsetut iut out pc efif uits and vicedh ED-CS ivrl sdtnraa on one of the nidulis.
KAAEYW
eeh mvoeeprmsn telsdu in the senxint of and are recean in ens to gxisti sanen and the eea up of uh of the et of the eyropr to uitpel nnsea, icgundl 130,000 ueaq te to sarhee in tnio. tiyemlat, sareeh in iotn acdsuhr the tein yrpreo gutirt to coee its U.S. ed-asrute.
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