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.
LOUINT
etmouts rekdotn eexnsti itpal rpvenseomm to irg the preoyr no the iul-tane ktra for the itr ei. nspmrevoem ee gdrtae at sciagnre the tvnstrteiaec of the operyr to a wroig mla tena tkra. mpsmnervoe lnucdd a pmeloe oeavinnt of all ugdiil sbboi and ssreoot to “yunto bl” tasndra, ilatngsl an on-ei ie, isnet tren, and onnfreee tner. mttusoe itu out pc eiff usit and dchevi DE-CS lrvi atdarsn on one of the dsunlii.
EKAWAY
hee nmepveomrs edstul in the sxnient of and rea cnerea in sne to xstiig neans and the eea up of hu of the te of the ryroep to ileptu senna, ugilcnd 130,000 qaue et to ersahe in iton. yelimatt, hsreea in toni crasuhd the neti rrpyoe tgtiru to ocee its U.S. de-uretas.
LOUINT
etmouts rekdotn eexnsti itpal rpvenseomm to irg the preoyr no the iul-tane ktra for the itr ei. nspmrevoem ee gdrtae at sciagnre the tvnstrteiaec of the operyr to a wroig mla tena tkra. mpsmnervoe lnucdd a pmeloe oeavinnt of all ugdiil sbboi and ssreoot to “yunto bl” tasndra, ilatngsl an on-ei ie, isnet tren, and onnfreee tner. mttusoe itu out pc eiff usit and dchevi DE-CS lrvi atdarsn on one of the dsunlii.
EKAWAY
hee nmepveomrs edstul in the sxnient of and rea cnerea in sne to xstiig neans and the eea up of hu of the te of the ryroep to ileptu senna, ugilcnd 130,000 qaue et to ersahe in iton. yelimatt, hsreea in toni crasuhd the neti rrpyoe tgtiru to ocee its U.S. de-uretas.
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