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.
TNOUIL
otmuset oerkdnt txenise ialtp esvrempmon to rig the yrreop on the liu-ntae ratk for the tir ei. nmmoseeprv ee egdrat at rnaiescg the easviertttnc of the proery to a goirw aml naet rtak. rmpesmvneo nlddcu a elpemo eiotvnan of all ldigiu sbboi and esstroo to “ounyt lb” daarnts, ltsnlagi an on-ei ei, sietn nrte, and nfreeeno etnr. usmetto iut out cp ffei utis and vihced ED-CS vlir adrntas on one of the ilusndi.
AKWYEA
ehe snovreepmm esdtlu in the xetnins of and are enrace in nse to sgitxi saenn and the eea up of hu of the et of the oeyrrp to upetil annes, iuclgdn 130,000 aeuq te to ahrees in into. taytliem, raeesh in iton hcadsur the nite rryepo utigtr to ceeo its U.S. ed-autsre.
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