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.
TONLUI
umseott tenrkdo xnesite alpti reoemvmsnp to igr the rperoy on the uil-enta artk for the tir ie. msopenevmr ee gaertd at ranscgie the eianrctsvett of the ryproe to a riowg alm aten rakt. vpmoemrnse uddncl a opeelm viennato of all ugiidl bbsoi and ootsers to “nyotu bl” trasdna, lnlgtsia an on-ei ie, ensit tern, and nrofeene netr. tumteso uit out cp fief stiu and ceivhd ED-CS rlvi drnstaa on one of the lniiusd.
AEWYAK
eeh rpemmvsneo dtsuel in the ensnixt of and rea eenrac in sen to ixgits aenns and the eae up of hu of the et of the yreorp to iepltu nasne, idnulgc 130,000 uaqe et to ahrsee in itno. elatiytm, ahseer in tnio adcursh the ntie rrpyoe rgiutt to eeco its U.S. ed-tuaesr.
TONLUI
umseott tenrkdo xnesite alpti reoemvmsnp to igr the rperoy on the uil-enta artk for the tir ie. msopenevmr ee gaertd at ranscgie the eianrctsvett of the ryproe to a riowg alm aten rakt. vpmoemrnse uddncl a opeelm viennato of all ugiidl bbsoi and ootsers to “nyotu bl” trasdna, lnlgtsia an on-ei ie, ensit tern, and nrofeene netr. tumteso uit out cp fief stiu and ceivhd ED-CS rlvi drnstaa on one of the lniiusd.
AEWYAK
eeh rpemmvsneo dtsuel in the ensnixt of and rea eenrac in sen to ixgits aenns and the eae up of hu of the et of the yreorp to iepltu nasne, idnulgc 130,000 uaqe et to ahrsee in itno. elatiytm, ahseer in tnio adcursh the ntie rrpyoe rgiutt to eeco its U.S. ed-tuaesr.
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