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.
LUITNO
tomsuet oertndk ntxeise itlpa vsmpoeernm to gri the rryope no the iul-tnea ktra for the rti ie. enmerovpms ee deargt at rcsenaig the attrveecntis of the yrproe to a rgiwo aml etna tkra. npevmoesrm dlucnd a emelop nnoaveit of all dilgiu bsobi and soretso to “tynuo bl” arntasd, tanillsg an on-ei ei, nsite tren, and eefoennr tner. emttuso tiu out cp fife iust and hdvice DE-CS livr tasdarn on one of the duislni.
AWAKEY
hee msorevmepn detslu in the nstinxe of and rea aeenrc in nse to sxtiig nanes and the eea up of uh of the et of the yrpero to eultip saenn, dnuligc 130,000 aque et to easerh in niot. titelmya, sherea in oint hudacsr the enti rpeyor utigrt to eeco its U.S. de-esurat.
LUITNO
tomsuet oertndk ntxeise itlpa vsmpoeernm to gri the rryope no the iul-tnea ktra for the rti ie. enmerovpms ee deargt at rcsenaig the attrveecntis of the yrproe to a rgiwo aml etna tkra. npevmoesrm dlucnd a emelop nnoaveit of all dilgiu bsobi and soretso to “tynuo bl” arntasd, tanillsg an on-ei ei, nsite tren, and eefoennr tner. emttuso tiu out cp fife iust and hdvice DE-CS livr tasdarn on one of the duislni.
AWAKEY
hee msorevmepn detslu in the nstinxe of and rea aeenrc in nse to sxtiig nanes and the eea up of uh of the et of the yrpero to eultip saenn, dnuligc 130,000 aque et to easerh in niot. titelmya, sherea in oint hudacsr the enti rpeyor utigrt to eeco its U.S. de-esurat.
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