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.
ONUITL
mtostue ednrokt teesnxi ipalt meoeprmvsn to gri the ryrope no the iul-ntae krat for the tri ei. epsnrmoemv ee darteg at aigenscr the resttncieavt of the pyeorr to a wrigo alm aent rkat. mevprnsoem nuddlc a lmeope anvioetn of all dgiilu osibb and sotseor to “onytu bl” tnarsda, asigllnt an on-ie ei, estni tnre, and foeeennr trne. tmuseto tui out pc fefi tsui and ehicdv DE-CS ilvr nstarda on one of the udilnsi.
WEYAAK
eeh mrnesvompe lsedut in the xsetnni of and rea cnaere in sen to gtxsii asenn and the eae up of hu of the et of the operyr to teuipl snnae, duclgni 130,000 qeau te to rhasee in iont. tlitemay, hasree in noti cuasrdh the itne yrpeor igttur to ocee its U.S. de-aertsu.
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