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.
NTOUIL
mteutso odenktr neesxti apilt nmrvsompee to irg the oeryrp on the lui-taen krta for the tri ie. remvenpsom ee tegard at gnercasi the ersncteittav of the orreyp to a oirwg lam tnea katr. soemvemnpr dlundc a mepole ntvnaieo of all idilgu bsboi and rtesoos to “nouty bl” tnraads, lgntalis an on-ie ei, teisn nrte, and fennreeo etnr. otstemu tui out cp ieff iust and dhceiv DE-CS ilvr dnsatar on one of the sinluid.
AWEAYK
eeh nmrvmepseo etsuld in the sennixt of and rea eecnar in esn to ixsigt nenas and the aee up of uh of the et of the reyrop to iutple ansne, gdulnci 130,000 uaeq et to ereahs in iont. miyetalt, rashee in ntoi uchrsda the ietn oryrep turitg to eoec its U.S. de-ruetas.
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