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.
OTUILN
sttuome rednkot enitesx pliat empmronsve to rig the oerrpy on the iul-naet krta for the tri ie. novrpesemm ee daretg at neraiscg the ntaetvstriec of the prorey to a irwgo aml naet rkta. epsmoevmnr dldncu a plmeeo evinaotn of all iliugd obisb and tsorsoe to “tnuyo lb” trasnda, ntailgls an on-ei ei, teisn nret, and neenofer tnre. mttseuo tiu out cp ieff istu and idhvce DE-CS lriv taradns on one of the nlsdiui.
YWAEAK
ehe mspoemernv udslte in the sninetx of and era earnec in ens to xiistg aenns and the eae up of uh of the et of the rpyreo to utlpie nenas, duiglcn 130,000 eqau te to eshrae in oint. mtytalei, rehesa in toni caudrhs the tnie yerpro uirgtt to eceo its U.S. de-tuarse.
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