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.
UITNLO
eotusmt etdrkno entxsie tilpa mpsevenmor to gri the oyrrpe on the iul-tean kart for the rit ei. nmespvomre ee tedagr at gnaceris the tvecrnttasie of the orrepy to a wirog aml tnea krat. rsmnveemop ldncdu a lmpeoe noniaetv of all digilu isbbo and rsostoe to “noyut lb” nartsda, tllaigsn an on-ie ei, einst tenr, and nernfeoe enrt. umsotet iut out cp ieff tsui and ivedch ED-CS vlri tsardna on one of the lnidsiu.
EWAKYA
hee vnememoprs tledus in the snteixn of and are cenaer in ens to itxsgi saenn and the eae up of hu of the te of the eoprry to puetil nsena, ilngdcu 130,000 uqae te to aeshre in oitn. eltiamty, reashe in inot hsdacru the eint oerrpy tirugt to ocee its U.S. ed-srueat.
UITNLO
eotusmt etdrkno entxsie tilpa mpsevenmor to gri the oyrrpe on the iul-tean kart for the rit ei. nmespvomre ee tedagr at gnaceris the tvecrnttasie of the orrepy to a wirog aml tnea krat. rsmnveemop ldncdu a lmpeoe noniaetv of all digilu isbbo and rsostoe to “noyut lb” nartsda, tllaigsn an on-ie ei, einst tenr, and nernfeoe enrt. umsotet iut out cp ieff tsui and ivedch ED-CS vlri tsardna on one of the lnidsiu.
EWAKYA
hee vnememoprs tledus in the snteixn of and are cenaer in ens to itxsgi saenn and the eae up of hu of the te of the eoprry to puetil nsena, ilngdcu 130,000 uqae te to aeshre in oitn. eltiamty, reashe in inot hsdacru the eint oerrpy tirugt to ocee its U.S. ed-srueat.
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