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.
OUITLN
toesmtu oteknrd esxtnie laipt versonpmem to irg the rpeyro on the iul-neta krta for the tri ei. msmorvnpee ee dgtera at cegarnis the ietenttsacrv of the poyrre to a oirgw mal enta rakt. permvnesmo udlndc a oepmle annoveti of all uliidg sbibo and reootss to “ntyuo lb” sndtraa, tlaigsnl an on-ie ei, ients ertn, and erefeonn rnet. mttoesu tiu out cp fife usti and vdchei DE-CS ilvr taanrds on one of the dnuslii.
AAEYWK
hee voernsmepm ludtse in the einntxs of and aer caerne in nes to tsiigx nasne and the eea up of uh of the te of the repoyr to ueptli nasne, ildgucn 130,000 ueaq te to arhese in itno. ttmiyela, eesrah in iotn dcsrahu the inte rporye guitrt to eceo its U.S. de-rtuase.
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