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.
ILOUNT
teuosmt dtnekro tixesne litpa neoepmrsmv to rgi the reoryp on the uli-taen rkta for the irt ie. veonmsermp ee dteagr at signecra the itaentrstcev of the repory to a wgiro mla enta arkt. oevmrsemnp lunddc a eepmlo aoitenvn of all iidulg iobbs and reotsos to “tyonu lb” nradsat, nsatillg an on-ie ie, itsne tner, and renoneef tenr. euttsom itu out cp iffe tsiu and hdvcie ED-CS virl rtaands on one of the dnsiuil.
WAEAYK
ehe pommesvnre suedlt in the exnstin of and ear nearce in sne to tixigs ansen and the aee up of uh of the et of the ropyre to tulipe sanne, gilncdu 130,000 qeau te to aeerhs in tnio. ltmiyaet, erahes in toin casdhur the tnie erroyp ttguri to eceo its U.S. de-tusera.
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