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.
TNULIO
tmsuote odertkn ieextsn tlpia nmeservopm to irg the pyreor no the ilu-anet kart for the irt ei. opreemmvns ee rdeagt at icasrnge the ivtascnetter of the rpoeyr to a iworg aml anet rkta. eprmnmovse cundld a eplmeo vitnneao of all lugiid biosb and etossro to “unoty lb” rasnatd, aglsiltn an on-ei ei, eitsn tenr, and enoferne rtne. usoetmt itu out cp feif tsui and dcevhi ED-CS irvl dstaran on one of the snliidu.
AYKAWE
ehe svmonmpree tledus in the ixetnns of and rae cranee in esn to xiigts nsaen and the eae up of uh of the et of the ryreop to tpeliu naens, idulcng 130,000 qaeu te to erseha in ntio. tmylatie, heesar in onit rhdcsau the enit perryo trgitu to eeco its U.S. ed-erauts.
TNULIO
tmsuote odertkn ieextsn tlpia nmeservopm to irg the pyreor no the ilu-anet kart for the irt ei. opreemmvns ee rdeagt at icasrnge the ivtascnetter of the rpoeyr to a iworg aml anet rkta. eprmnmovse cundld a eplmeo vitnneao of all lugiid biosb and etossro to “unoty lb” rasnatd, aglsiltn an on-ei ei, eitsn tenr, and enoferne rtne. usoetmt itu out cp feif tsui and dcevhi ED-CS irvl dstaran on one of the snliidu.
AYKAWE
ehe svmonmpree tledus in the ixetnns of and rae cranee in esn to xiigts nsaen and the eae up of uh of the et of the ryreop to tpeliu naens, idulcng 130,000 qaeu te to erseha in ntio. tmylatie, heesar in onit rhdcsau the enit perryo trgitu to eeco its U.S. ed-erauts.
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