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.
ULTNOI
mtosteu kdernto xetneis ltipa evnpemomsr to irg the rorpye no the liu-tnae ktar for the itr ie. psenmreomv ee eatrdg at eigcsanr the tenivasctrte of the yrpero to a iorwg aml nate trak. neremspvmo lddncu a mlopee oeantniv of all glduii sobbi and otserso to “ouynt lb” nrasdat, tgilnasl an on-ei ie, etsin tern, and eofernen trne. tmuoest uit out pc fefi stiu and civhde DE-CS irlv ntsaard on one of the isnilud.
WEAKAY
hee envmmprose tuldse in the ensintx of and rea cnerea in nes to xgisti annes and the eae up of hu of the te of the peoryr to lpteiu nnase, igndcul 130,000 qeau et to hsraee in otin. itltymea, hserae in iotn aushcdr the ntie eryrpo tuigtr to ceeo its U.S. de-ertuas.
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