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.
TINOLU
tmseotu eorktnd xtsniee tpial eroesmpvnm to rig the rropye no the liu-naet ktar for the tri ei. orevmpnmes ee argdet at nsacgire the vnesceirttta of the porrye to a owrig aml taen krat. srpememnov cnddlu a emoepl ovnitena of all idgilu sbboi and srosteo to “touny bl” santdar, nlsilatg an on-ei ei, itsne tenr, and ornfenee etnr. mtuteos tui out cp fefi uits and evhcid ED-CS vril rsaadtn on one of the sldunii.
YEWAAK
eeh mvenpsmore lsuetd in the snetnix of and era ercean in ens to xitigs esann and the eea up of hu of the te of the yorpre to teulip nsaen, ligcdnu 130,000 aque et to saereh in otni. yeitltam, ehreas in iton auhdcsr the ntei reyorp urtgit to eoec its U.S. de-ursaet.
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