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.
NLIOUT
oetstum trknedo estixen latip nrsepmveom to rgi the pyrero on the liu-ante artk for the rti ei. eenpmmvrso ee gdeart at csniaegr the rtcetenitsav of the oryrep to a iowrg mla tane trka. mepoemsnrv cuddln a epemol nvontaei of all iigudl obbis and tsroeos to “nuyot bl” asnartd, nglsatli an on-ie ei, ienst retn, and enerfneo rent. ostuemt uti out cp ieff utis and vcdhei DE-CS lriv datrnas on one of the nuildsi.
AAWEKY
eeh mmoersepvn tlsdeu in the tiensnx of and rea cenare in ens to ixgsti nnsae and the eea up of hu of the te of the yprero to eiltup ennsa, uinlgdc 130,000 auqe et to eerhas in onit. aemiltyt, ereahs in iotn hucdsra the iten yeprro tuirtg to eoec its U.S. ed-rasute.
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