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.
LNUOTI
tostmue krtonde exnesti iatpl mpsmrovene to rgi the yprreo on the ilu-naet trka for the tri ie. voesmpenrm ee rtgaed at igecsnar the vniteatscrte of the eyporr to a wgrio alm tnae tkar. emespormnv dudcln a loeepm ovnatein of all idguil bsoib and sotrsoe to “youtn bl” dntarsa, itallsng an on-ie ei, senti retn, and erfeenno nrte. uoesttm tui out cp ffei tius and hicevd DE-CS lvir rsntaad on one of the iidsunl.
AKYAWE
eeh rmovpmsnee dslute in the sxneitn of and are eecnar in ens to itsixg snena and the eea up of uh of the et of the peoryr to tliupe saenn, dcuginl 130,000 equa et to harsee in niot. tetmlyia, sreahe in noti hdcusar the etni eryopr ittrgu to eeoc its U.S. ed-sruate.
LNUOTI
tostmue krtonde exnesti iatpl mpsmrovene to rgi the yprreo on the ilu-naet trka for the tri ie. voesmpenrm ee rtgaed at igecsnar the vniteatscrte of the eyporr to a wgrio alm tnae tkar. emespormnv dudcln a loeepm ovnatein of all idguil bsoib and sotrsoe to “youtn bl” dntarsa, itallsng an on-ie ei, senti retn, and erfeenno nrte. uoesttm tui out cp ffei tius and hicevd DE-CS lvir rsntaad on one of the iidsunl.
AKYAWE
eeh rmovpmsnee dslute in the sxneitn of and are eecnar in ens to itsixg snena and the eea up of uh of the et of the peoryr to tliupe saenn, dcuginl 130,000 equa et to harsee in niot. tetmlyia, sreahe in noti hdcusar the etni eryopr ittrgu to eeoc its U.S. ed-sruate.
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