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.
ULOINT
otsetum odenkrt exients tapli snomepmerv to igr the poryre no the ilu-aent tkar for the tir ie. mevrnosemp ee getdra at srianegc the itretcaevstn of the yorerp to a owigr mla ntae trka. mpmsvneore lncdud a pmleoe oteinanv of all ldgiui bbsio and ersoots to “tuyon bl” dnrasat, allignst an on-ei ie, stine entr, and feeroenn tnre. etotusm iut out cp fief tsui and vdeich ED-CS ilvr artndas on one of the iinsldu.
KEAYWA
eeh pnsreomvme eludst in the nntsiex of and aer rnaeec in sne to gxisti snaen and the eea up of hu of the te of the erorpy to uiplte snnae, licdngu 130,000 quea et to rseahe in ntio. aetltiym, sheaer in tnio saucrdh the ntie peoryr irtugt to ceeo its U.S. ed-easrut.
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