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.
ULTNIO
emtostu krdeton xenstei ilpat onrpvesmem to gri the prryeo on the liu-aten katr for the rti ie. emmopsrnve ee gatedr at nsegraci the stevtctinaer of the erypro to a rowig lam ntae takr. eesmvnropm clundd a lmoepe anvieotn of all giluid bsboi and stsoeor to “unoty bl” ardnsta, illasntg an on-ei ei, seitn rent, and efernone tner. tetmsou iut out cp ieff itus and vheicd ED-CS vilr asrnatd on one of the niluids.
AEKWYA
eeh smnmevoepr sldtue in the sxntein of and are eaecnr in nes to gtisxi nesan and the eae up of uh of the te of the yprore to tlpuei nasen, iglcnud 130,000 uaqe te to asheer in otni. mettiyla, reahse in otin dcrsuha the ntie eypror gutirt to eceo its U.S. ed-suaret.
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