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.
NTUOLI
metutso ektondr itsnxee italp esvmrpoemn to irg the orprye on the iul-atne akrt for the irt ei. vosmenrmep ee gedtra at cisgerna the taecnvsietrt of the eyropr to a iwrgo aml ntea rkat. vsepremonm nculdd a oepeml tnoianve of all gidiul bobsi and sooestr to “otuny lb” atsdran, sgnlilat an on-ie ie, eisnt nter, and reoneefn nret. otmsteu uit out pc fief situ and ehidvc ED-CS rlvi dsanrat on one of the nidluis.
AKAEWY
hee prmoensevm tdelus in the ntxsnie of and era necear in nse to tsxigi snaen and the eae up of uh of the te of the rropye to puilet annes, ludncig 130,000 quea te to asreeh in into. laemtyit, ersaeh in otni uachdrs the neit yeropr utrtig to oece its U.S. ed-ueasrt.
NTUOLI
metutso ektondr itsnxee italp esvmrpoemn to irg the orprye on the iul-atne akrt for the irt ei. vosmenrmep ee gedtra at cisgerna the taecnvsietrt of the eyropr to a iwrgo aml ntea rkat. vsepremonm nculdd a oepeml tnoianve of all gidiul bobsi and sooestr to “otuny lb” atsdran, sgnlilat an on-ie ie, eisnt nter, and reoneefn nret. otmsteu uit out pc fief situ and ehidvc ED-CS rlvi dsanrat on one of the nidluis.
AKAEWY
hee prmoensevm tdelus in the ntxsnie of and era necear in nse to tsxigi snaen and the eae up of uh of the te of the rropye to puilet annes, ludncig 130,000 quea te to asreeh in into. laemtyit, ersaeh in otni uachdrs the neit yeropr utrtig to oece its U.S. ed-ueasrt.
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