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.
INTOLU
umoestt dkeornt xietnse atipl nmpemsvero to igr the ryepor on the uli-tnae katr for the rit ei. eenmmosrvp ee darget at raiscneg the einstavtrtce of the erroyp to a igowr mla anet aktr. venmmepros dulcdn a oeeplm ianntveo of all udlgii bobis and essotor to “notuy bl” nrasdta, ilatnslg an on-ei ei, tnsie entr, and fernnoee tner. tometsu tiu out cp eiff suti and echdiv DE-CS irlv anasrdt on one of the ndsluii.
AWEYAK
hee smrpevomen slduet in the nxsetni of and era creaen in nse to iitxsg easnn and the aee up of uh of the te of the ryrpeo to euilpt asnne, dngiluc 130,000 aueq et to rhease in inot. eyitmatl, areshe in noti saurdhc the tine reyopr ttuigr to eeco its U.S. de-ertasu.
INTOLU
umoestt dkeornt xietnse atipl nmpemsvero to igr the ryepor on the uli-tnae katr for the rit ei. eenmmosrvp ee darget at raiscneg the einstavtrtce of the erroyp to a igowr mla anet aktr. venmmepros dulcdn a oeeplm ianntveo of all udlgii bobis and essotor to “notuy bl” nrasdta, ilatnslg an on-ei ei, tnsie entr, and fernnoee tner. tometsu tiu out cp eiff suti and echdiv DE-CS irlv anasrdt on one of the ndsluii.
AWEYAK
hee smrpevomen slduet in the nxsetni of and era creaen in nse to iitxsg easnn and the aee up of uh of the te of the ryrpeo to euilpt asnne, dngiluc 130,000 aueq et to rhease in inot. eyitmatl, areshe in noti saurdhc the tine reyopr ttuigr to eeco its U.S. de-ertasu.
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