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.
LNOUTI
tuestmo nredokt xnetsie iptal rvesneopmm to gri the yeorpr no the uli-aten krta for the rit ei. veneosmpmr ee dagtre at ncraiges the tttesairncev of the rpeyor to a owirg lam anet ktra. mrpevnmseo ucnldd a oeemlp ovneatni of all uliigd sbibo and roeosst to “tnuyo bl” rasntda, ailnsglt an on-ie ie, eints netr, and enfneroe tner. soumtte uit out cp fefi itsu and vedich DE-CS ilrv darntas on one of the ndsluii.
AKEAWY
ehe vomesremnp tsedul in the xinnset of and rea arecne in nse to sgixit esnan and the eea up of hu of the et of the erpory to eltipu nneas, nclugdi 130,000 quea te to erhsae in toin. tatyilem, hearse in onit ducsrah the eint oyrper tirugt to ecoe its U.S. de-tseuar.
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