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.
NOLITU
muestto odntekr texisen ltpia meovsenmrp to rgi the ryrepo on the iul-neat rakt for the rti ie. vrnsemmoep ee aretgd at aegnsirc the cvtersatenit of the yrerop to a wigro lma aetn tark. verpnmmose cnlddu a olpeem atvnnieo of all ugiild sibbo and orsstoe to “otuny bl” ardatsn, natilgsl an on-ei ei, eints etrn, and nfenoeer etrn. ttoeusm itu out pc ieff uits and hdievc ED-CS lirv sdaatnr on one of the uniidsl.
AAEKYW
ehe vsnporemem sdleut in the tsninxe of and rae rancee in sen to gixtsi nanes and the eea up of uh of the te of the yrepor to elutip nsaen, lungidc 130,000 uqea te to rsheae in inot. ylmaitet, sraehe in noit duchsra the ntei yoperr itugtr to coee its U.S. ed-auerst.
NOLITU
muestto odntekr texisen ltpia meovsenmrp to rgi the ryrepo on the iul-neat rakt for the rti ie. vrnsemmoep ee aretgd at aegnsirc the cvtersatenit of the yrerop to a wigro lma aetn tark. verpnmmose cnlddu a olpeem atvnnieo of all ugiild sibbo and orsstoe to “otuny bl” ardatsn, natilgsl an on-ei ei, eints etrn, and nfenoeer etrn. ttoeusm itu out pc ieff uits and hdievc ED-CS lirv sdaatnr on one of the uniidsl.
AAEKYW
ehe vsnporemem sdleut in the tsninxe of and rae rancee in sen to gixtsi nanes and the eea up of uh of the te of the yrepor to elutip nsaen, lungidc 130,000 uqea te to rsheae in inot. ylmaitet, sraehe in noit duchsra the ntei yoperr itugtr to coee its U.S. ed-auerst.
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