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.
TIOUNL
tmeusot dokenrt txensei tailp vrpsoneemm to igr the reropy no the liu-nate trak for the rit ie. pnoesrmvme ee edagtr at asrncieg the ntatceietrvs of the erryop to a owirg mal tnea tkra. prseevomnm culddn a loempe nnteaivo of all iligdu bsibo and ososter to “oyntu lb” dnsarta, gnsltlai an on-ie ie, sinte rten, and efoneenr nrte. tumesot tiu out pc ieff situ and devhci DE-CS lvir tsndaar on one of the niudisl.
KYAWEA
hee onmemrpves dtusel in the ixnstne of and era caeern in nse to ixitgs nsane and the eae up of uh of the te of the yrorep to ieulpt nnsea, lgcidun 130,000 qaue te to rheeas in inot. tltymiae, rsaeeh in noti uasdcrh the tein oerpry gtitru to ecoe its U.S. ed-uasrte.
TIOUNL
tmeusot dokenrt txensei tailp vrpsoneemm to igr the reropy no the liu-nate trak for the rit ie. pnoesrmvme ee edagtr at asrncieg the ntatceietrvs of the erryop to a owirg mal tnea tkra. prseevomnm culddn a loempe nnteaivo of all iligdu bsibo and ososter to “oyntu lb” dnsarta, gnsltlai an on-ie ie, sinte rten, and efoneenr nrte. tumesot tiu out pc ieff situ and devhci DE-CS lvir tsndaar on one of the niudisl.
KYAWEA
hee onmemrpves dtusel in the ixnstne of and era caeern in nse to ixitgs nsane and the eae up of uh of the te of the yrorep to ieulpt nnsea, lgcidun 130,000 qaue te to rheeas in inot. tltymiae, rsaeeh in noti uasdcrh the tein oerpry gtitru to ecoe its U.S. ed-uasrte.
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