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.
ILNUOT
ttsmueo ktdrneo exeints patli nervmsempo to rig the perory no the lui-neta rtak for the irt ei. ernvsmpmeo ee rgdeta at rgieascn the srntvtieecta of the oreypr to a gwori lma enta tark. noevpmresm lducdn a pemelo vneinato of all uildgi ibbso and rtsseoo to “oytnu bl” tdanasr, iltglasn an on-ei ei, tnies tern, and oeernnef netr. smtueot tui out cp ifef usti and vihecd ED-CS vlir rdaanst on one of the islindu.
YAWAKE
hee mrneevspom ltsude in the snntxei of and aer canree in nse to itgxsi sanne and the eae up of uh of the te of the eprory to leitup snane, gdiunlc 130,000 euaq et to aesreh in ntoi. itymtlae, asereh in nito duhsacr the neti ryeopr ugttir to oeec its U.S. de-auster.
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