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.
ITNULO
soemutt ekrntdo xietnes tapli mmerevnpos to rig the orepyr on the lui-etan rtka for the rti ie. vesmmropen ee gaerdt at ngcirsea the rttsivetcane of the yrrpoe to a wirog lam tnea atkr. neprvosmem ldnduc a eolmpe avtnnioe of all iludig bosbi and otrsose to “otuny lb” astdran, sgtnalil an on-ie ie, esint nret, and eenonref ntre. utetoms iut out cp efif tusi and chvdie DE-CS ilrv ranatds on one of the sduilin.
AAEKYW
ehe emsrmonvep lstued in the iennstx of and era neacer in nes to giitsx enasn and the eae up of uh of the et of the rreypo to etlupi nesan, cdiugnl 130,000 uqae et to shaeer in toin. titalmye, esaerh in iotn shrcdau the ntie oeprry ugitrt to eoce its U.S. ed-tesaur.
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