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.
LITOUN
utmtoes nrkeodt xnsieet aptil oenvremmsp to gir the eoprry no the liu-enat kart for the tri ie. msoevmeprn ee adertg at ernigsca the secaitttrevn of the eprory to a wrogi lam etan rkta. nvmmsproee lncdud a ompele vnineoat of all ugdiil bobis and toresso to “yutno lb” rsadant, aigllnts an on-ei ei, esnit entr, and enfneoer nter. tsmteou tiu out cp fife uits and vhiced ED-CS rvil satrdna on one of the uslidni.
WYAEAK
ehe rvmempnsoe usldet in the nnietxs of and aer ncaree in nse to itsxig snnae and the aee up of hu of the te of the rreoyp to tpiuel esnan, culnigd 130,000 uqae te to rehsae in itno. tyeiatml, areehs in tion arsuchd the nite eorryp gitrtu to oece its U.S. ed-treusa.
LITOUN
utmtoes nrkeodt xnsieet aptil oenvremmsp to gir the eoprry no the liu-enat kart for the tri ie. msoevmeprn ee adertg at ernigsca the secaitttrevn of the eprory to a wrogi lam etan rkta. nvmmsproee lncdud a ompele vnineoat of all ugdiil bobis and toresso to “yutno lb” rsadant, aigllnts an on-ei ei, esnit entr, and enfneoer nter. tsmteou tiu out cp fife uits and vhiced ED-CS rvil satrdna on one of the uslidni.
WYAEAK
ehe rvmempnsoe usldet in the nnietxs of and aer ncaree in nse to itsxig snnae and the aee up of hu of the te of the rreoyp to tpiuel esnan, culnigd 130,000 uqae te to rehsae in itno. tyeiatml, areehs in tion arsuchd the nite eorryp gitrtu to oece its U.S. ed-treusa.
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