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.
OUITNL
msutote detrkno tenseix liapt eoervmpsmn to igr the oryrep on the lui-etna rkta for the rti ei. mmpnseerov ee tdgear at asenrigc the veesriancttt of the oryper to a riwog lma eant rtak. mrnposevme cudlnd a emloep naveinot of all iiludg sbiob and etssroo to “nytuo lb” datanrs, lignlats an on-ei ei, eitsn rnet, and ofnreene nert. smuetto itu out cp ifef situ and vehdic DE-CS vlri dstraan on one of the unidlis.
KAEAWY
ehe nepmmvsoer dulset in the tsxienn of and rae rncaee in nes to sxigit nnsae and the aee up of uh of the te of the preory to pilute snena, udclgin 130,000 quea et to asereh in nito. eaitytlm, ehraes in onit cdruhas the neti erorpy utrgti to coee its U.S. de-seraut.
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