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.
OTNIUL
ttsoume okrnedt nsitxee tialp mvrmseoepn to igr the erpoyr no the uil-etan akrt for the rti ie. eemsvponmr ee deargt at eagncsri the ettrevncasit of the repoyr to a rwoig mla neat atkr. mrvpnmeose dlcndu a empeol oanvteni of all iuligd obbis and sroteso to “ytoun bl” rnsdaat, gtliasnl an on-ie ei, esnti etnr, and eeonenrf tenr. stoumte tiu out pc efif itus and veihcd DE-CS rliv daatrsn on one of the liusind.
EAKYWA
hee ovrempnmse dsulte in the sxtneni of and rea rneace in nes to isgitx ensna and the eea up of uh of the te of the eryrop to eutilp enans, ciglund 130,000 aequ te to eehsra in nito. lmitayte, sareeh in iont rachsud the tnei peryor rttigu to eoce its U.S. de-asetru.
OTNIUL
ttsoume okrnedt nsitxee tialp mvrmseoepn to igr the erpoyr no the uil-etan akrt for the rti ie. eemsvponmr ee deargt at eagncsri the ettrevncasit of the repoyr to a rwoig mla neat atkr. mrvpnmeose dlcndu a empeol oanvteni of all iuligd obbis and sroteso to “ytoun bl” rnsdaat, gtliasnl an on-ie ei, esnti etnr, and eeonenrf tenr. stoumte tiu out pc efif itus and veihcd DE-CS rliv daatrsn on one of the liusind.
EAKYWA
hee ovrempnmse dsulte in the sxtneni of and rea rneace in nes to isgitx ensna and the eea up of uh of the te of the eryrop to eutilp enans, ciglund 130,000 aequ te to eehsra in nito. lmitayte, sareeh in iont rachsud the tnei peryor rttigu to eoce its U.S. de-asetru.
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