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.
OLUITN
sttomue kdteorn neesxit ipatl seovmrempn to rig the rrepoy on the lui-neat krta for the itr ie. smrmenovpe ee atgred at gcirsean the asvcreetnitt of the eorypr to a rowig lma naet aktr. eesmvrmopn dldnuc a lpoeem ennoaivt of all giduil sibob and oosesrt to “nyuot lb” dnrstaa, stllgina an on-ie ie, neits entr, and efeennro tnre. tumoset uit out cp efif tusi and edcivh ED-CS lirv dnartsa on one of the siundli.
EAAYKW
ehe roempvsmen ltueds in the xintnes of and aer renace in sen to tisxig naens and the aee up of hu of the et of the peoryr to putiel nsean, clgdinu 130,000 auqe te to arshee in tino. amtteliy, eheras in oitn urcadhs the ietn rerpoy trigut to ocee its U.S. de-staeur.
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