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.
TOLNIU
eutmsto trodnke teneisx ailpt prnsemomev to rgi the royerp no the lui-atne rkat for the tri ie. opmerenmvs ee garedt at cgaerins the eavttitcrnes of the eprory to a owrig lam ante atkr. rosevnmpem lnddcu a oeempl eivaotnn of all ldiuig sbibo and oserots to “yuotn bl” aastdnr, islltagn an on-ei ei, niets rtne, and neroeefn rnte. ttmsuoe tui out cp fief iuts and ihdecv ED-CS lirv tndasra on one of the linsuid.
KWAEAY
eeh vrensmopme tsldeu in the xensnit of and ear arnece in sen to xgisit naesn and the eea up of uh of the et of the yreorp to etpilu naesn, uiclgnd 130,000 qeua te to shaere in oint. taimylte, hesera in oint hcdrasu the nite prryeo iutrgt to ecoe its U.S. ed-atruse.
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