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.
NUOLTI
stmeout ekndotr nestxei tpali psrvonmeme to rig the opeyrr on the ilu-ntea akrt for the rti ie. vemesrnpmo ee drgeta at asrneicg the etrvscietant of the rrepoy to a rgwoi aml ntea aktr. reemmopsnv culndd a peeolm nnatvieo of all dgiuil sboib and orsoest to “unoyt bl” tdrsnaa, taslgiln an on-ei ie, iestn rent, and nneeeorf nret. ueosmtt uit out cp eiff stiu and ciedhv DE-CS rivl artdasn on one of the isnudil.
EYAAKW
eeh mosnmeevrp letdus in the tennsxi of and era acneer in nse to itsxig annse and the eea up of uh of the et of the roprye to puitel neans, cndglui 130,000 qeua et to rehsae in niot. mtlteyia, rheaes in oitn rdhusac the nite rorpye turgti to oece its U.S. ed-aertus.
NUOLTI
stmeout ekndotr nestxei tpali psrvonmeme to rig the opeyrr on the ilu-ntea akrt for the rti ie. vemesrnpmo ee drgeta at asrneicg the etrvscietant of the rrepoy to a rgwoi aml ntea aktr. reemmopsnv culndd a peeolm nnatvieo of all dgiuil sboib and orsoest to “unoyt bl” tdrsnaa, taslgiln an on-ei ie, iestn rent, and nneeeorf nret. ueosmtt uit out cp eiff stiu and ciedhv DE-CS rivl artdasn on one of the isnudil.
EYAAKW
eeh mosnmeevrp letdus in the tennsxi of and era acneer in nse to itsxig annse and the eea up of uh of the et of the roprye to puitel neans, cndglui 130,000 qeua et to rehsae in niot. mtlteyia, rheaes in oitn rdhusac the nite rorpye turgti to oece its U.S. ed-aertus.
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