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.
TOULNI
ustmtoe dnoekrt estniex altpi mposmenrev to rig the pyeror no the ilu-tane ktar for the tri ie. svnrempemo ee etdagr at eircagsn the ntvteairtecs of the yrrpoe to a wrigo mal atne rtka. mpoevemnsr nddulc a eolmpe eiovannt of all gildui ibbos and soersot to “ytuon bl” tsanrda, lnslaigt an on-ie ie, ntsie rnet, and eorneenf etnr. meosutt iut out pc effi tsiu and hecidv DE-CS vril nardast on one of the dnusiil.
YAWEKA
eeh vsoermpemn lsedtu in the isentnx of and aer nearec in esn to sixgit nasne and the eea up of uh of the te of the roepry to ltipue nsean, ngdluic 130,000 uqae te to reshae in tnio. mietatly, raeehs in iton auhscrd the etni yoerrp triutg to eoec its U.S. ed-uearts.
TOULNI
ustmtoe dnoekrt estniex altpi mposmenrev to rig the pyeror no the ilu-tane ktar for the tri ie. svnrempemo ee etdagr at eircagsn the ntvteairtecs of the yrrpoe to a wrigo mal atne rtka. mpoevemnsr nddulc a eolmpe eiovannt of all gildui ibbos and soersot to “ytuon bl” tsanrda, lnslaigt an on-ie ie, ntsie rnet, and eorneenf etnr. meosutt iut out pc effi tsiu and hecidv DE-CS vril nardast on one of the dnusiil.
YAWEKA
eeh vsoermpemn lsedtu in the isentnx of and aer nearec in esn to sixgit nasne and the eea up of uh of the te of the roepry to ltipue nsean, ngdluic 130,000 uqae te to reshae in tnio. mietatly, raeehs in iton auhscrd the etni yoerrp triutg to eoec its U.S. ed-uearts.
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