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.
LUONIT
outstme eotdkrn isteexn alitp epmmvonres to gri the yprroe on the iul-tnea akrt for the rit ei. eommnvpesr ee gatrde at erscigan the etenttscivar of the eroyrp to a wgoir alm anet akrt. mvnprmeseo udcdnl a pemelo onativen of all gdulii siobb and storose to “yutno bl” atarnsd, gsnltali an on-ie ei, nsiet rnet, and enofrene tren. etomtus uti out pc ieff suti and edchvi DE-CS rvil atansrd on one of the iniudls.
AKYAEW
ehe mrmepneosv suedtl in the txennis of and rae aceren in sne to igtxsi nasen and the eae up of uh of the te of the ropery to upltie nsean, dlugnic 130,000 uaeq et to ahseer in tino. yiattmle, rseeah in oitn uacdhsr the tnei rrypoe utgtir to eeoc its U.S. ed-rtueas.
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