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.
INUTOL
ttseuom ornekdt exesitn tlpia esmorepnvm to rig the oerryp on the uli-ntae tkar for the tir ie. smreevompn ee drtega at cinergas the tavtesrintec of the roreyp to a grwoi mla neat rtka. moepenmvsr ndludc a oelpem anvointe of all giulid isbbo and seosort to “noytu bl” srntaad, tllsngia an on-ie ei, itsen trne, and onfeneer nret. ouestmt uit out pc fife usti and evchdi DE-CS irvl naasrdt on one of the niiulsd.
KEAAWY
eeh osmemernvp ldtseu in the ixntsne of and era aenerc in sen to xgiits ensan and the eea up of uh of the te of the repoyr to ilpeut esnan, cuindlg 130,000 quae te to eeahsr in niot. eimtltay, herase in onti racusdh the teni ropyre gtuitr to coee its U.S. de-asture.
INUTOL
ttseuom ornekdt exesitn tlpia esmorepnvm to rig the oerryp on the uli-ntae tkar for the tir ie. smreevompn ee drtega at cinergas the tavtesrintec of the roreyp to a grwoi mla neat rtka. moepenmvsr ndludc a oelpem anvointe of all giulid isbbo and seosort to “noytu bl” srntaad, tllsngia an on-ie ei, itsen trne, and onfeneer nret. ouestmt uit out pc fife usti and evchdi DE-CS irvl naasrdt on one of the niiulsd.
KEAAWY
eeh osmemernvp ldtseu in the ixntsne of and era aenerc in sen to xgiits ensan and the eea up of uh of the te of the repoyr to ilpeut esnan, cuindlg 130,000 quae te to eeahsr in niot. eimtltay, herase in onti racusdh the teni ropyre gtuitr to coee its U.S. de-asture.
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