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.
NLIOTU
tmtesuo teoknrd xeinset atilp empornmsve to rgi the rreyop no the liu-eatn katr for the tir ie. mrnpvemoes ee gadter at asncrieg the rtictstaveen of the proyre to a igwor mal aent atkr. meepsonvmr unldcd a mloeep tnaieonv of all iilgud bbiso and oosstre to “yonut lb” adstarn, gatlsnil an on-ei ie, esint retn, and reenenfo tnre. usteotm itu out cp eiff itus and dhciev DE-CS ilrv aranstd on one of the sunliid.
AYAWEK
hee svempornme ldeust in the ntsxien of and rea rcneea in sen to xiigts neans and the aee up of hu of the te of the repory to lptuei nesna, lcdiung 130,000 aque et to eaehsr in oint. tatemlyi, rhesea in inot arsdcuh the neti oyrrpe gttriu to ocee its U.S. de-srteua.
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