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.
UOLNIT
tseuotm otrdenk xietnes tpail emmvrensop to gir the eyorrp on the uil-etan tark for the rit ei. pmosevmern ee dgrate at areicgsn the nsteitavtrce of the eopryr to a iorwg lma ntea ratk. semvmepnor cnudld a eplome ontevani of all luiidg sbboi and sortseo to “ynotu bl” atndras, tillsnga an on-ie ie, inset rnte, and enefoern ernt. oumstte uit out pc ffei usti and dcheiv DE-CS irvl aasdrtn on one of the dsunili.
KYAAWE
ehe emrsvnpemo utsled in the ntseixn of and era necrea in sen to tigixs nneas and the eae up of hu of the te of the oerrpy to teluip aenns, dluincg 130,000 qaeu et to ehsare in ntoi. ymlttiea, arshee in oint uadhsrc the inte rropey uitrgt to eoec its U.S. de-teausr.
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