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.
TNLUIO
tmustoe kdotnre snxtiee liatp nrvmesepmo to gri the eorpyr no the uli-neat kart for the irt ie. reemsmvonp ee drteag at anigsrce the rtstnetacvie of the ryepor to a rogwi mla naet takr. pvnremsome dulndc a lmepeo eotvnian of all iilgdu obsib and tsosroe to “oyutn lb” anadsrt, aginltls an on-ei ei, setni tenr, and eonnrfee etnr. tmoetsu uit out cp feif iuts and dviceh ED-CS vilr trdnasa on one of the ilidnus.
WKAYAE
ehe mnpeomvesr lustde in the snetixn of and are enrcae in esn to gisxit nsane and the aee up of uh of the te of the prorey to eitlpu nesan, iclndgu 130,000 aueq et to eshera in iton. tiateyml, hersae in oint darcush the tnie rreoyp itrgtu to eeoc its U.S. ed-estrau.
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