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.
INLUOT
tmusote kderotn xsetnie altip meponvmrse to rig the eyrrop no the iul-taen tkra for the irt ei. mpvsremeon ee tradeg at cesrgnia the stetrieanvtc of the eopryr to a owgir alm aent ratk. severonmpm cdldun a meleop aoevnint of all luidgi bobis and soreots to “nytou bl” ansardt, gtlsnila an on-ie ei, iesnt nrte, and eneefonr tner. ttuoems tiu out pc ieff uist and cvdieh ED-CS rvil ntsaadr on one of the snuiild.
YAWAEK
hee pommenserv sdutel in the txensni of and ear recaen in sne to gixtsi asnen and the eea up of hu of the te of the perroy to ilptue nnaes, diuncgl 130,000 aueq et to eersah in onit. tmitlaey, ahsree in iotn cshurad the ntie prreyo ugittr to ocee its U.S. ed-asuter.
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