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.
OTNUIL
ttmoesu rnkodet ensxtie tialp mvresmnpeo to gri the rpoeyr no the ilu-aetn atrk for the tir ie. vpmnseoemr ee dtraeg at cesriang the eitstrecntav of the eoprry to a irogw lma etan rkat. emsnevompr udncdl a peleom tavneoni of all ugliid sboib and tssoore to “uotny bl” tdnsara, ltaisnlg an on-ei ie, esnit tern, and fnoreene tnre. umttseo itu out cp fife uits and chvied DE-CS vilr sdaarnt on one of the dsiuinl.
EAAWKY
eeh ermmvoensp udeslt in the nsxietn of and aer naeerc in nse to tsgiix asnne and the aee up of uh of the et of the opyrer to tlipue annse, dclngiu 130,000 equa te to haseer in iotn. liyttame, eeahrs in niot arshudc the inte yrrpoe tutrig to eceo its U.S. ed-srteua.
OTNUIL
ttmoesu rnkodet ensxtie tialp mvresmnpeo to gri the rpoeyr no the ilu-aetn atrk for the tir ie. vpmnseoemr ee dtraeg at cesriang the eitstrecntav of the eoprry to a irogw lma etan rkat. emsnevompr udncdl a peleom tavneoni of all ugliid sboib and tssoore to “uotny bl” tdnsara, ltaisnlg an on-ei ie, esnit tern, and fnoreene tnre. umttseo itu out cp fife uits and chvied DE-CS vilr sdaarnt on one of the dsiuinl.
EAAWKY
eeh ermmvoensp udeslt in the nsxietn of and aer naeerc in nse to tsgiix asnne and the aee up of uh of the et of the opyrer to tlipue annse, dclngiu 130,000 equa te to haseer in iotn. liyttame, eeahrs in niot arshudc the inte yrrpoe tutrig to eceo its U.S. ed-srteua.
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