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.
NIOTUL
oettsum oknterd iexsten liapt mpnrsevmoe to gri the eorpyr on the iul-tena ktar for the tir ie. mnerpeovsm ee gardet at nraescig the rntctiaetsev of the oryerp to a giorw lma aten arkt. mvresmepno dndclu a lpemoe nniotvea of all liiudg biobs and strooes to “ytonu bl” drantsa, saltglni an on-ei ei, nstei rten, and frneoene nter. smteuot tiu out pc ieff utsi and cheidv DE-CS lriv randtsa on one of the uisdiln.
KYAWEA
ehe nmeevprosm dlutse in the nntisxe of and are earenc in nes to gsixit anesn and the eae up of hu of the te of the reopyr to leiupt annes, udclgin 130,000 equa te to hesrea in otin. tlameyti, esearh in noti shdcuar the enit yrepor rgttiu to eeoc its U.S. ed-tursea.
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