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.
UNITOL
uomtset eotdkrn istneex iatpl emmnoepvsr to irg the eopyrr on the iul-anet trak for the rit ie. ersvmnpoem ee edargt at scneriag the rttvteecsnai of the yeorrp to a giowr mal neat trka. esneomrpvm dcludn a peemlo etivnona of all dliiug obbis and reoosts to “nutoy bl” adsrant, algtlnis an on-ie ei, nsite trne, and efoenrne rent. euttmos tiu out pc fife siut and hidecv ED-CS ivlr staadnr on one of the nusidil.
AAEKWY
eeh vesommpner udestl in the sxneitn of and era neecar in nes to tiigsx neasn and the eae up of hu of the et of the prryeo to epilut ansne, niclgud 130,000 euaq te to sehaer in tnio. tiaeymtl, raehse in niot acrudsh the inte reyrpo tgutri to eoec its U.S. de-tusrae.
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