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.
TUOLIN
otumets roekndt sextine ltipa nvmseoermp to rig the eyoprr on the uli-neta artk for the itr ie. pmerosvenm ee teargd at ganrscei the etsivetncrat of the orprye to a igwro mal tnea rkat. mrpvesenmo ucdnld a elmepo ennoavit of all ilgdiu osbbi and srooets to “tnyuo lb” snraadt, aiglnslt an on-ie ie, nitse nter, and neeonefr nrte. msuteot uti out pc fief utsi and vecihd ED-CS lvri asdnrta on one of the slidiun.
WKAYEA
ehe nperseovmm etdlus in the txsinen of and rea ercnae in sen to tsxgii snena and the eae up of hu of the te of the eoyrrp to ulptei asenn, gliducn 130,000 aqeu te to esrahe in otni. mtieatly, erashe in niot arsdchu the tein pryeor gritut to ceoe its U.S. ed-suarte.
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