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.
LIONTU
tteousm okdrent nesxite ptial mmveenorsp to rig the rperoy no the liu-enat rkta for the irt ei. spormeevnm ee agetrd at rcasiegn the esitrtcnetva of the rpyeor to a worig alm enat tkra. ovpnermsem dcudln a oplmee niovtaen of all uiildg boibs and rteosos to “onytu bl” dsnaart, ilslgnat an on-ie ie, isnet etnr, and eeroefnn retn. tmtoues itu out pc ifef stiu and ecdhiv ED-CS vilr dtnaars on one of the iundsli.
AEKYAW
ehe nemvmosrep esultd in the etxnsin of and ear erncea in esn to istigx naesn and the eea up of uh of the te of the eprroy to ptiule neasn, gdnluic 130,000 eaqu et to esaerh in onti. emyilatt, eshaer in oitn duhrsac the enti poyrer rtugit to ocee its U.S. ed-aeruts.
LIONTU
tteousm okdrent nesxite ptial mmveenorsp to rig the rperoy no the liu-enat rkta for the irt ei. spormeevnm ee agetrd at rcasiegn the esitrtcnetva of the rpyeor to a worig alm enat tkra. ovpnermsem dcudln a oplmee niovtaen of all uiildg boibs and rteosos to “onytu bl” dsnaart, ilslgnat an on-ie ie, isnet etnr, and eeroefnn retn. tmtoues itu out pc ifef stiu and ecdhiv ED-CS vilr dtnaars on one of the iundsli.
AEKYAW
ehe nemvmosrep esultd in the etxnsin of and ear erncea in esn to istigx naesn and the eea up of uh of the te of the eprroy to ptiule neasn, gdnluic 130,000 eaqu et to esaerh in onti. emyilatt, eshaer in oitn duhrsac the enti poyrer rtugit to ocee its U.S. ed-aeruts.
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