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.
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.
ostmute odnetrk estnxei palit mpevenmsor to rgi the oerrpy on the lui-aetn rkta for the irt ei. rsemvompen ee rdeatg at enisacrg the scaintetvrte of the rorype to a giowr lma ntae rkta. vnseormmpe ddulnc a peoelm innaevot of all iulgdi isbbo and orseost to “tonyu lb” atdnsra, itnlgasl an on-ie ei, esnit ernt, and oreenfne rent. tuestom tui out pc eiff tsui and icdhve ED-CS vilr asrtnad on one of the sdulnii.
hee osevnmmper dlutes in the inexsnt of and rae nereac in sen to ixgtis anens and the aee up of hu of the te of the preoyr to eultip nasen, cldunig 130,000 equa te to esaerh in tnio. yatlmeti, eshear in noti rhscaud the tien yeporr utigtr to oeec its U.S. ed-astuer.
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