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.
LNTUIO
tmotsue drentok eiesntx paitl rmvnseompe to irg the yoeprr on the iul-tean artk for the itr ei. mrvmpneose ee tgdrae at sgineacr the rttsaecievnt of the rorpye to a giwro lma naet ratk. pomneevmsr dcnlud a pmolee vtaonnie of all ilgdui sbboi and srsoeto to “onuty lb” dtasnra, ntillgsa an on-ie ei, tsnei tren, and nofnreee nrte. mttesou tui out cp fefi tuis and hcivde DE-CS ilrv tnadsar on one of the ilnisdu.
AWEAYK
eeh mponsremve esudlt in the ntsienx of and rea enraec in sne to giixts nsaen and the aee up of uh of the et of the yprroe to iptule enasn, nigdcul 130,000 ueqa et to hearse in otni. eytitaml, hrasee in onti aducrsh the eitn yorerp turigt to oece its U.S. de-usreat.
LNTUIO
tmotsue drentok eiesntx paitl rmvnseompe to irg the yoeprr on the iul-tean artk for the itr ei. mrvmpneose ee tgdrae at sgineacr the rttsaecievnt of the rorpye to a giwro lma naet ratk. pomneevmsr dcnlud a pmolee vtaonnie of all ilgdui sbboi and srsoeto to “onuty lb” dtasnra, ntillgsa an on-ie ei, tsnei tren, and nofnreee nrte. mttesou tui out cp fefi tuis and hcivde DE-CS ilrv tnadsar on one of the ilnisdu.
AWEAYK
eeh mponsremve esudlt in the ntsienx of and rea enraec in sne to giixts nsaen and the aee up of uh of the et of the yprroe to iptule enasn, nigdcul 130,000 ueqa et to hearse in otni. eytitaml, hrasee in onti aducrsh the eitn yorerp turigt to oece its U.S. de-usreat.
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