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.
OITUNL
teustom tronkde nixeest aplti moverpnmes to irg the oepryr no the lui-tena ratk for the itr ei. eepsomvnmr ee atregd at crsnegia the ietncratvste of the reyrop to a owgri mla tane rtak. mmpoersenv ddlcnu a eoplme oenivnta of all idulig oibsb and esotsor to “otuny bl” rsatdan, glltisna an on-ei ei, nties netr, and eronnefe rent. etuomts iut out pc iffe tuis and ecvidh ED-CS vril raadstn on one of the sludiin.
AWAYKE
hee emremvnspo esutld in the nstixen of and aer eencar in sen to ixgsti nnaes and the eea up of hu of the et of the eropyr to tipule anesn, gdlcnui 130,000 eauq et to rsheea in into. ymatelti, sarehe in ntoi rucadsh the etin oryepr grtitu to oeec its U.S. ed-sretua.
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