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.
UTINOL
toestmu dntekro eiestnx pliat mosprnveem to rgi the yerrop on the uil-etna rkta for the tri ie. mrvemseopn ee tdarge at cnariesg the seeatntcvitr of the rropey to a iorwg aml aent trak. espnrmevom cdduln a peomel eantnoiv of all ilidgu sbbio and rsoetso to “utony lb” taasrdn, lnlgsiat an on-ei ei, senti netr, and eefonenr ntre. mtteous itu out pc eiff tius and hcdiev ED-CS lvir aadrnts on one of the idlsuni.
WYAAEK
hee meevpomsnr tlduse in the einsxnt of and rea careen in nse to gsxiti snane and the aee up of hu of the et of the yrpero to tliuep nnase, nldcgui 130,000 aqeu te to saeerh in iton. teymtlia, seaehr in into chusrda the ient ryoerp tgruti to eceo its U.S. ed-srueat.
UTINOL
toestmu dntekro eiestnx pliat mosprnveem to rgi the yerrop on the uil-etna rkta for the tri ie. mrvemseopn ee tdarge at cnariesg the seeatntcvitr of the rropey to a iorwg aml aent trak. espnrmevom cdduln a peomel eantnoiv of all ilidgu sbbio and rsoetso to “utony lb” taasrdn, lnlgsiat an on-ei ei, senti netr, and eefonenr ntre. mtteous itu out pc eiff tius and hcdiev ED-CS lvir aadrnts on one of the idlsuni.
WYAAEK
hee meevpomsnr tlduse in the einsxnt of and rea careen in nse to gsxiti snane and the aee up of hu of the et of the yrpero to tliuep nnase, nldcgui 130,000 aqeu te to saeerh in iton. teymtlia, seaehr in into chusrda the ient ryoerp tgruti to eceo its U.S. ed-srueat.
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