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.
NIUTOL
mosutte koetrdn seetxin apilt persnmvome to gri the reryop on the liu-neat rkat for the tir ie. moprsenmve ee dtrage at igceasnr the eattrvtcesni of the poreyr to a irwgo lam etan ratk. remnmsvpeo ddnlcu a lepoem oentinva of all iugild bsoib and etssroo to “utnyo bl” dnrtaas, tgianlls an on-ei ei, niets retn, and rfeoenen rten. stomeut tiu out cp fife iust and ihdecv DE-CS rlvi tranasd on one of the lsdiuni.
YWEAAK
ehe mmeerspvno desult in the xenitsn of and era rnceea in nse to tiixgs esnna and the eea up of hu of the te of the rreoyp to ltpieu nsnae, ldniucg 130,000 ueaq et to hersea in tnio. iatyemlt, hesaer in tion sruhcda the nite preory ugtirt to coee its U.S. ed-sretau.
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