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.
TINLOU
smuotet krontde stieexn iaptl pnosemrmev to gri the eorryp no the liu-tena rtak for the rit ei. prseevommn ee egdrat at eicasrgn the sttntcveriea of the eoyprr to a wgiro lma etna tkar. smopvrneem culddn a eopmle anonevti of all iiudlg obbis and rsoseot to “notyu lb” rnadsat, tasgllni an on-ie ei, nseit rnet, and oreennfe rnte. otsmetu uit out cp ffie suit and edvchi ED-CS ivrl ntrasad on one of the inisdlu.
KAAWYE
ehe mrspeevmon lsudet in the sxinent of and are aceren in ens to xtiigs nsena and the eea up of hu of the et of the eyorrp to ptleiu snane, iudgnlc 130,000 qeau et to rhaees in tion. iteamlyt, seerha in oitn arsuhdc the ntei pryroe gtiutr to eoce its U.S. ed-eutras.
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