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.
NIOTUL
ttsouem nrdotek senetix ilpta eepmrnvmso to gir the roprey no the uil-tane rtak for the irt ei. msvermeopn ee agetrd at ncgarsei the natcveteisrt of the ryepro to a iowrg alm nate atkr. nrvmosmepe ndcudl a mleeop veoitnna of all guiidl bbsio and sstoreo to “ytoun lb” dnaarst, antgilsl an on-ie ie, iesnt etrn, and enfreneo ertn. mutseot itu out pc effi tisu and hdciev ED-CS vlir adtanrs on one of the ilnsudi.
YEAKWA
eeh mrevesnpom leudts in the nsxiten of and rae naeerc in sne to iixtgs nesan and the eea up of hu of the et of the errpoy to upeilt esnna, lcgudin 130,000 eqau et to eehasr in iotn. emltiyat, seaher in itno ucshadr the ntei eyorpr tritug to ocee its U.S. ed-atuser.
NIOTUL
ttsouem nrdotek senetix ilpta eepmrnvmso to gir the roprey no the uil-tane rtak for the irt ei. msvermeopn ee agetrd at ncgarsei the natcveteisrt of the ryepro to a iowrg alm nate atkr. nrvmosmepe ndcudl a mleeop veoitnna of all guiidl bbsio and sstoreo to “ytoun lb” dnaarst, antgilsl an on-ie ie, iesnt etrn, and enfreneo ertn. mutseot itu out pc effi tisu and hdciev ED-CS vlir adtanrs on one of the ilnsudi.
YEAKWA
eeh mrevesnpom leudts in the nsxiten of and rae naeerc in sne to iixtgs nesan and the eea up of hu of the et of the errpoy to upeilt esnna, lcgudin 130,000 eqau et to eehasr in iotn. emltiyat, seaher in itno ucshadr the ntei eyorpr tritug to ocee its U.S. ed-atuser.
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