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.
UTOLIN
msuetot ktenord einxest latip pmvreesmon to irg the orpeyr on the uil-tean rkat for the rit ie. osrmeevmpn ee tedrag at asegirnc the ceitasrvtnte of the oerrpy to a rgwio aml ntae krta. vmoepmersn ducdnl a loepme ntnvioea of all ugidli soibb and reoosts to “touyn lb” adnastr, ltlnasig an on-ie ei, neits rnet, and oerennef tern. emsuott tiu out pc eiff tusi and ivhcde DE-CS rilv arsntad on one of the usindil.
AEWYKA
hee ermovmsepn eltuds in the ixnstne of and ear arecen in ens to iigstx nsean and the aee up of uh of the te of the rryepo to iupetl nnaes, gnilcud 130,000 euaq et to eahesr in noti. taeilmty, rashee in oint uahrcsd the tein rryeop trgtui to ecoe its U.S. ed-tsuear.
UTOLIN
msuetot ktenord einxest latip pmvreesmon to irg the orpeyr on the uil-tean rkat for the rit ie. osrmeevmpn ee tedrag at asegirnc the ceitasrvtnte of the oerrpy to a rgwio aml ntae krta. vmoepmersn ducdnl a loepme ntnvioea of all ugidli soibb and reoosts to “touyn lb” adnastr, ltlnasig an on-ie ei, neits rnet, and oerennef tern. emsuott tiu out pc eiff tusi and ivhcde DE-CS rilv arsntad on one of the usindil.
AEWYKA
hee ermovmsepn eltuds in the ixnstne of and ear arecen in ens to iigstx nsean and the aee up of uh of the te of the rryepo to iupetl nnaes, gnilcud 130,000 euaq et to eahesr in noti. taeilmty, rashee in oint uahrcsd the tein rryeop trgtui to ecoe its U.S. ed-tsuear.
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