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.
TLOUIN
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EAWYAK
ehe vnrsemoemp sedtlu in the nxneist of and rae crneae in nes to xisitg nsena and the aee up of hu of the et of the rperyo to tliupe nesna, dnucgil 130,000 ueaq te to hrseea in iton. ytiltaem, esaerh in iton hruacds the nite pryreo rugtit to ocee its U.S. ed-eaurst.
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