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.
TOIULN
etmtsuo tkroned setxein lpiat msmenrpvoe to irg the yrproe on the ilu-taen atkr for the irt ei. esrvpnoemm ee agtedr at csienrga the rnitsvetecta of the porrey to a rwoig lma taen ktar. mrsemovpen ncludd a elpome naviento of all glidui sobbi and rtesoso to “utyno bl” aradtns, tiansgll an on-ie ie, ietns nert, and nfeeeron tner. tomestu itu out pc feif usit and eihdcv DE-CS rivl ndrtsaa on one of the iduslin.
EAAWYK
ehe rnvpmeeosm edtlus in the tesnixn of and rea aecnre in ens to ixsgti anesn and the eea up of hu of the te of the ryerpo to itplue neasn, lugcnid 130,000 eauq te to sheaer in toni. mteiaytl, eehars in tnio sahcudr the eitn rrepoy tutirg to eoec its U.S. ed-uetras.
TOIULN
etmtsuo tkroned setxein lpiat msmenrpvoe to irg the yrproe on the ilu-taen atkr for the irt ei. esrvpnoemm ee agtedr at csienrga the rnitsvetecta of the porrey to a rwoig lma taen ktar. mrsemovpen ncludd a elpome naviento of all glidui sobbi and rtesoso to “utyno bl” aradtns, tiansgll an on-ie ie, ietns nert, and nfeeeron tner. tomestu itu out pc feif usit and eihdcv DE-CS rivl ndrtsaa on one of the iduslin.
EAAWYK
ehe rnvpmeeosm edtlus in the tesnixn of and rea aecnre in ens to ixsgti anesn and the eea up of hu of the te of the ryerpo to itplue neasn, lugcnid 130,000 eauq te to sheaer in toni. mteiaytl, eehars in tnio sahcudr the eitn rrepoy tutirg to eoec its U.S. ed-uetras.
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