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.
NTOULI
uestmot kodrnet einxset alipt vempmreson to gri the ryorpe no the liu-nate trka for the tir ie. memovseprn ee etadrg at sanciger the ateestricntv of the yrproe to a grwio lma anet ktar. eprsmemvon cldnud a loempe oevnnita of all iluidg iosbb and eososrt to “ynuto lb” nasadtr, llgsanti an on-ei ei, estin trne, and erfennoe rtne. teoutsm uti out cp feif tisu and dvhiec ED-CS rivl snardat on one of the iiudnls.
YWKAAE
ehe rnvmemopes eltsud in the xitesnn of and are craene in esn to sxigit nnsea and the eea up of hu of the te of the peryor to tliupe nsaen, liugncd 130,000 quae et to sheera in tnoi. attyilem, eerhas in tnio csaduhr the iten pyorer tuitrg to coee its U.S. de-autesr.
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