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.
OLINUT
tmsuoet nedtork nesxtie iplta vopmremens to igr the rpoyer no the liu-etna akrt for the itr ei. overnemspm ee etagrd at recngsia the itsnrecvatte of the repyro to a wigor mal eant aktr. vsrpmmenoe dcdlun a meeopl aionevnt of all iudlig bsbio and toroses to “ytoun lb” tnadsra, gltlisan an on-ei ie, enist tner, and enorfeen tern. tmtuoes iut out pc fief tius and chvedi DE-CS vlri andasrt on one of the sdnulii.
KEAWYA
hee mmsenevorp leutds in the tniensx of and aer recaen in nes to gtxsii ansne and the eae up of hu of the et of the eorypr to teupli snnae, cidulgn 130,000 uaqe te to erhaes in iton. mltyitea, esreah in tino sradchu the etni yproer tiutrg to eeco its U.S. de-etasur.
OLINUT
tmsuoet nedtork nesxtie iplta vopmremens to igr the rpoyer no the liu-etna akrt for the itr ei. overnemspm ee etagrd at recngsia the itsnrecvatte of the repyro to a wigor mal eant aktr. vsrpmmenoe dcdlun a meeopl aionevnt of all iudlig bsbio and toroses to “ytoun lb” tnadsra, gltlisan an on-ei ie, enist tner, and enorfeen tern. tmtuoes iut out pc fief tius and chvedi DE-CS vlri andasrt on one of the sdnulii.
KEAWYA
hee mmsenevorp leutds in the tniensx of and aer recaen in nes to gtxsii ansne and the eae up of hu of the et of the eorypr to teupli snnae, cidulgn 130,000 uaqe te to erhaes in iton. mltyitea, esreah in tino sradchu the etni yproer tiutrg to eeco its U.S. de-etasur.
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