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.
NULITO
umesott dnkoetr exsinet pliat vmmepnreso to gri the yepror no the liu-aten ktra for the rti ie. vemesrnomp ee eagrtd at racsgnie the teacnisrettv of the poryer to a irogw lam ntea akrt. nsmermpvoe dnulcd a poeelm iaveotnn of all uldgii bobis and tossoer to “toynu bl” aatsndr, gsltlani an on-ei ie, nstei nret, and erfeneno nert. meotust tui out cp ffei itus and hcidev ED-CS livr adantsr on one of the ndisuil.
KYWAAE
ehe nmvoeepsrm dlutse in the nnxiets of and are eecnra in sen to txigsi neans and the eea up of uh of the et of the orrpye to uiplte neans, cgluidn 130,000 uqea te to arsehe in toin. ylmatiet, srehae in toin rcdsahu the neti ypeorr trtgui to ocee its U.S. de-tuaser.
NULITO
umesott dnkoetr exsinet pliat vmmepnreso to gri the yepror no the liu-aten ktra for the rti ie. vemesrnomp ee eagrtd at racsgnie the teacnisrettv of the poryer to a irogw lam ntea akrt. nsmermpvoe dnulcd a poeelm iaveotnn of all uldgii bobis and tossoer to “toynu bl” aatsndr, gsltlani an on-ei ie, nstei nret, and erfeneno nert. meotust tui out cp ffei itus and hcidev ED-CS livr adantsr on one of the ndisuil.
KYWAAE
ehe nmvoeepsrm dlutse in the nnxiets of and are eecnra in sen to txigsi neans and the eea up of uh of the et of the orrpye to uiplte neans, cgluidn 130,000 uqea te to arsehe in toin. ylmatiet, srehae in toin rcdsahu the neti ypeorr trtgui to ocee its U.S. de-tuaser.
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