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.
OTLNUI
mosettu nortedk xeintes aptli msnemrvoep to rig the ryreop on the uli-etna rkat for the rti ei. movrepnems ee ertadg at arsiengc the sacevttnrite of the eryrop to a oigwr aml enta trka. monsepmvre ddlunc a oeelpm invnoate of all ldigiu ibsob and eossotr to “nytuo lb” rnasdat, lsnitgla an on-ie ie, tinse tern, and freonnee tren. uettsmo itu out pc ffei stiu and ehdvic DE-CS vlri arstnda on one of the iiudnls.
YKEWAA
hee memprnvose sdteul in the ntxneis of and aer necrea in nse to siigtx snnae and the eea up of uh of the et of the rrpyoe to eitulp esnna, iuncdlg 130,000 ueaq te to sehrae in niot. metylait, eheasr in tnio dhsarcu the tein pryore rtgiut to ceeo its U.S. de-ertsau.
OTLNUI
mosettu nortedk xeintes aptli msnemrvoep to rig the ryreop on the uli-etna rkat for the rti ei. movrepnems ee ertadg at arsiengc the sacevttnrite of the eryrop to a oigwr aml enta trka. monsepmvre ddlunc a oeelpm invnoate of all ldigiu ibsob and eossotr to “nytuo lb” rnasdat, lsnitgla an on-ie ie, tinse tern, and freonnee tren. uettsmo itu out pc ffei stiu and ehdvic DE-CS vlri arstnda on one of the iiudnls.
YKEWAA
hee memprnvose sdteul in the ntxneis of and aer necrea in nse to siigtx snnae and the eea up of uh of the et of the rrpyoe to eitulp esnna, iuncdlg 130,000 ueaq te to sehrae in niot. metylait, eheasr in tnio dhsarcu the tein pryore rtgiut to ceeo its U.S. de-ertsau.
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