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.
ONULTI
uetsmto dktnore seetnxi aiptl preemsovnm to gri the eroyrp no the ilu-tena artk for the itr ie. nreovepmms ee eardtg at ieagrsnc the ascertntivte of the eoyprr to a owirg mal ntea katr. pmeoesvmnr luncdd a melepo nveitona of all liuigd osibb and oreosst to “oyntu lb” asradtn, tlalings an on-ei ei, sietn enrt, and nreefoen ernt. eostmut tiu out pc eiff usti and ehidcv ED-CS irlv rantads on one of the udlinis.
YAEWAK
hee mnesoprevm uldtes in the esinxnt of and rea nraeec in nes to tiigsx aesnn and the eae up of hu of the te of the pyorre to ueplti snnae, idgnulc 130,000 euqa et to eearhs in iotn. eyiatlmt, eesrha in inot srudach the ietn rrepoy tuirgt to ecoe its U.S. ed-aresut.
ONULTI
uetsmto dktnore seetnxi aiptl preemsovnm to gri the eroyrp no the ilu-tena artk for the itr ie. nreovepmms ee eardtg at ieagrsnc the ascertntivte of the eoyprr to a owirg mal ntea katr. pmeoesvmnr luncdd a melepo nveitona of all liuigd osibb and oreosst to “oyntu lb” asradtn, tlalings an on-ei ei, sietn enrt, and nreefoen ernt. eostmut tiu out pc eiff usti and ehidcv ED-CS irlv rantads on one of the udlinis.
YAEWAK
hee mnesoprevm uldtes in the esinxnt of and rea nraeec in nes to tiigsx aesnn and the eae up of hu of the te of the pyorre to ueplti snnae, idgnulc 130,000 euqa et to eearhs in iotn. eyiatlmt, eesrha in inot srudach the ietn rrepoy tuirgt to ecoe its U.S. ed-aresut.
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