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.
TNOLIU
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AYKWAE
eeh neesmvorpm edulst in the inxsnet of and ear nercea in nse to xtgisi nnaes and the eea up of uh of the te of the preroy to upleit snean, lcugnid 130,000 quae et to eehsar in toni. temlatyi, erahse in onti cusahrd the eint rorpey trgtiu to oece its U.S. ed-saerut.
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