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.
OUITLN
tosmute eonkrtd ixseten laitp renopvemms to irg the rpreyo no the ilu-aten tark for the irt ie. emrsevmpno ee radtge at grsicena the vrtieestnact of the rpoeyr to a origw alm ante rtka. sernmeopmv nldcdu a lopeem vintonae of all uldigi osibb and sosetro to “ntuoy bl” dasantr, ilagnslt an on-ei ie, tesni nert, and enoernfe trne. eumttos iut out pc fefi tisu and hdciev DE-CS ilvr rtsanad on one of the iludnsi.
WAYKAE
hee svonepmmre eultsd in the sxntien of and are rencae in sne to sixgti neasn and the eea up of uh of the te of the repyor to ieltup asenn, gclnidu 130,000 eqau te to eserah in tion. yamiltet, eshaer in inot hruscda the eitn ryepro rgtiut to ocee its U.S. de-utsare.
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