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.
NTILUO
mtsuoet tkdnore sinxeet ialpt nvprommese to rgi the pyreor no the iul-naet takr for the itr ie. rspvmenmeo ee regtad at scerngia the ctrseiattven of the oerpyr to a grwoi lma neta krta. smmvproene cnddul a mepelo otinnaev of all ilugid sbbio and ostroes to “otuyn lb” rasandt, siltangl an on-ei ei, nseit etnr, and enefnoer tner. usetmto itu out pc iffe tsiu and cidevh ED-CS lriv danrast on one of the suiidln.
EKYWAA
hee oempemvsnr studel in the tnisexn of and rea ceenar in sne to ixgsti nsane and the eea up of uh of the te of the eoyprr to ileutp ensan, cnguidl 130,000 euqa et to hraese in tino. aytietlm, aesrhe in toni craudhs the neit oryrpe tuirtg to coee its U.S. ed-ustear.
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