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.
TNOULI
seomtut rtedkon xnesite tapil nmvsomerep to rig the yerorp on the ilu-enta tkra for the rti ei. enomspevmr ee tgdaer at asnigerc the ecttraeitsnv of the yorrpe to a gowri mal etna aktr. rvnpememso cdudnl a molpee tnavoeni of all iduigl sobbi and oossrte to “tyoun bl” atdrasn, tsnagill an on-ei ei, inste ntre, and oenrfnee ntre. motuset tui out cp iffe suti and cedvih DE-CS vrli drastan on one of the luisnid.
AKWYEA
hee enepsmrvom tlesud in the exntnis of and rae rnaeec in sen to gistxi snnea and the aee up of hu of the te of the reoypr to upliet ansne, nduglci 130,000 uqea te to sereha in ntio. teymtlai, ereash in tino udchsra the inet rporey tugrti to eeco its U.S. ed-rseuat.
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