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.
TNILUO
stemtou tordnke ixesetn atlip vmmrnospee to rig the eorrpy on the liu-nate artk for the tir ie. nepoemmrvs ee eatrgd at gscnerai the cevrnetitsat of the erropy to a igrow mal tena akrt. oermnvepsm dlundc a pleeom nnaeitvo of all liidgu boisb and tsoorse to “tuony bl” rsaadtn, lilgsnat an on-ie ie, stnie retn, and neefenro tenr. ttomesu itu out cp efif utis and chvdie DE-CS ilrv adsnrta on one of the undsili.
YAAWEK
hee eveospmrmn seldtu in the sexnnti of and rae ecenra in ens to iigxst aensn and the aee up of uh of the te of the oryper to ueilpt seann, dnilguc 130,000 uqae te to esaehr in inot. eyilttma, easher in inot rudscha the enti rpeyro irttug to eeco its U.S. ed-eratus.
TNILUO
stemtou tordnke ixesetn atlip vmmrnospee to rig the eorrpy on the liu-nate artk for the tir ie. nepoemmrvs ee eatrgd at gscnerai the cevrnetitsat of the erropy to a igrow mal tena akrt. oermnvepsm dlundc a pleeom nnaeitvo of all liidgu boisb and tsoorse to “tuony bl” rsaadtn, lilgsnat an on-ie ie, stnie retn, and neefenro tenr. ttomesu itu out cp efif utis and chvdie DE-CS ilrv adsnrta on one of the undsili.
YAAWEK
hee eveospmrmn seldtu in the sexnnti of and rae ecenra in ens to iigxst aensn and the aee up of uh of the te of the oryper to ueilpt seann, dnilguc 130,000 uqae te to esaehr in inot. eyilttma, easher in inot rudscha the enti rpeyro irttug to eeco its U.S. ed-eratus.
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