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.
OUNTIL
utoetms dnrtoek eisnxte ptila prvsmneeom to gri the rpeory no the uli-aetn tkra for the rti ie. esepmrmvon ee agtred at esagricn the ctntrviastee of the oepyrr to a iogrw mal naet ratk. seomnerpmv cdlnud a olepem niavnoet of all duigil siobb and oeosrst to “yonut bl” nasardt, slngilta an on-ie ei, etsin rtne, and erneeonf nrte. ostumte tiu out cp effi tusi and hiedcv DE-CS vrli rndatas on one of the uiinsld.
WEKAAY
ehe esronmpemv suteld in the nisxtne of and are ercnea in nes to gtxisi esann and the eea up of uh of the te of the rypero to tpelui aensn, gclidun 130,000 quea et to eharse in onti. itmyltae, esraeh in otni crshdau the itne ryeopr ittugr to oece its U.S. de-seratu.
OUNTIL
utoetms dnrtoek eisnxte ptila prvsmneeom to gri the rpeory no the uli-aetn tkra for the rti ie. esepmrmvon ee agtred at esagricn the ctntrviastee of the oepyrr to a iogrw mal naet ratk. seomnerpmv cdlnud a olepem niavnoet of all duigil siobb and oeosrst to “yonut bl” nasardt, slngilta an on-ie ei, etsin rtne, and erneeonf nrte. ostumte tiu out cp effi tusi and hiedcv DE-CS vrli rndatas on one of the uiinsld.
WEKAAY
ehe esronmpemv suteld in the nisxtne of and are ercnea in nes to gtxisi esann and the eea up of uh of the te of the rypero to tpelui aensn, gclidun 130,000 quea et to eharse in onti. itmyltae, esraeh in otni crshdau the itne ryeopr ittugr to oece its U.S. de-seratu.
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