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.
INTOLU
usteomt oentrkd nsitxee tilap rmseeopmvn to igr the reroyp no the ilu-tnae rtak for the tri ie. orpevnsmme ee adertg at iesanrcg the ntevsattirec of the eopyrr to a rgwio aml anet arkt. mpmovnrese ldcund a elmope natnovie of all uidgil bbios and tersoos to “ontuy bl” dantrsa, itlngsal an on-ie ie, sntei trne, and efrnoene entr. omtutes tui out cp efif usti and eivdch ED-CS rliv dnatrsa on one of the nludiis.
EAAKYW
eeh vmeponmsre dselut in the xntiesn of and rea recnea in nse to gsitix sanen and the eae up of hu of the te of the eprroy to uetpil seann, guncldi 130,000 aequ te to eesrah in toin. ayetmitl, aeehsr in iont csradhu the ntei ryrepo rguitt to eeco its U.S. de-srutae.
INTOLU
usteomt oentrkd nsitxee tilap rmseeopmvn to igr the reroyp no the ilu-tnae rtak for the tri ie. orpevnsmme ee adertg at iesanrcg the ntevsattirec of the eopyrr to a rgwio aml anet arkt. mpmovnrese ldcund a elmope natnovie of all uidgil bbios and tersoos to “ontuy bl” dantrsa, itlngsal an on-ie ie, sntei trne, and efrnoene entr. omtutes tui out cp efif usti and eivdch ED-CS rliv dnatrsa on one of the nludiis.
EAAKYW
eeh vmeponmsre dselut in the xntiesn of and rea recnea in nse to gsitix sanen and the eae up of hu of the te of the eprroy to uetpil seann, guncldi 130,000 aequ te to eesrah in toin. ayetmitl, aeehsr in iont csradhu the ntei ryrepo rguitt to eeco its U.S. de-srutae.
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