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.
LTNOUI
setumto ntodker exesint piatl pemnrosevm to irg the yprero on the iul-enat trka for the irt ei. pseenmmrov ee gtrade at regscani the tntsraeecvti of the rerpyo to a orwig aml neat akrt. nempesvmro cnudld a pemloe noainvte of all igudli isbob and tosrseo to “tyuno lb” tnaards, inalltgs an on-ie ei, sitne ntre, and ennrfoee netr. tusteom uti out cp fefi uits and chdiev DE-CS ivrl snatadr on one of the iilusdn.
WKAYEA
eeh menpoevsmr sdtelu in the xsinten of and era cenear in ens to xtisig nnsea and the eae up of hu of the te of the pryreo to lputie esnan, gcludin 130,000 ueqa te to aehrse in iont. ymleitat, esrahe in niot hscdura the itne oprery ttigru to ceeo its U.S. ed-uaetrs.
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