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.
UOTNIL
toetums tkdrone ntixese pialt evrmsponem to rig the orpeyr no the lui-tnae ktra for the tir ei. vemrsneopm ee dgreat at rnecisag the einsevtrttac of the eporry to a oriwg mla tnea rtak. enevrpmoms clundd a peomle onviatne of all liudgi isbob and toserso to “ntyou bl” tasrdna, nitglsal an on-ie ie, inest entr, and eoenrfne nert. touesmt uti out cp efif iust and dchive DE-CS rilv andtrsa on one of the iludisn.
AWAKYE
hee evoprsmmne lesdtu in the tesxnin of and are eeancr in nse to sgiixt ensna and the aee up of hu of the et of the preory to uitepl senna, igclndu 130,000 qaeu et to saehre in iton. meyitlta, ehsrea in itno hrasduc the nite reoypr rtuitg to ecoe its U.S. ed-rasteu.
UOTNIL
toetums tkdrone ntixese pialt evrmsponem to rig the orpeyr no the lui-tnae ktra for the tir ei. vemrsneopm ee dgreat at rnecisag the einsevtrttac of the eporry to a oriwg mla tnea rtak. enevrpmoms clundd a peomle onviatne of all liudgi isbob and toserso to “ntyou bl” tasrdna, nitglsal an on-ie ie, inest entr, and eoenrfne nert. touesmt uti out cp efif iust and dchive DE-CS rilv andtrsa on one of the iludisn.
AWAKYE
hee evoprsmmne lesdtu in the tesxnin of and are eeancr in nse to sgiixt ensna and the aee up of hu of the et of the preory to uitepl senna, igclndu 130,000 qaeu et to saehre in iton. meyitlta, ehsrea in itno hrasduc the nite reoypr rtuitg to ecoe its U.S. ed-rasteu.
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