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.
LONITU
tsetuom ktrndoe nstexei palit menvopsmre to gir the yoprer no the uil-tean rkat for the rit ei. voeemrnsmp ee trdeag at sarencig the iaenttvetsrc of the rrpeoy to a gowir aml tnae rtak. mresveopmn unddlc a eelpmo naenotvi of all gdilui sobib and roeosst to “noytu lb” atsandr, agtlinsl an on-ie ie, ietns tner, and neeorfen retn. soetmtu iut out pc fife siut and cdeivh ED-CS rvil rntasda on one of the diusnil.
YAEWAK
hee mnrvpmeeso lsetdu in the teixnsn of and era naerce in esn to tixgis enasn and the eae up of hu of the et of the roprey to tpeilu ennsa, ducnilg 130,000 aeuq et to esaehr in onit. iltatemy, shreea in onti auhrsdc the eint peryor gturti to coee its U.S. ed-esurat.
LONITU
tsetuom ktrndoe nstexei palit menvopsmre to gir the yoprer no the uil-tean rkat for the rit ei. voeemrnsmp ee trdeag at sarencig the iaenttvetsrc of the rrpeoy to a gowir aml tnae rtak. mresveopmn unddlc a eelpmo naenotvi of all gdilui sobib and roeosst to “noytu lb” atsandr, agtlinsl an on-ie ie, ietns tner, and neeorfen retn. soetmtu iut out pc fife siut and cdeivh ED-CS rvil rntasda on one of the diusnil.
YAEWAK
hee mnrvpmeeso lsetdu in the teixnsn of and era naerce in esn to tixgis enasn and the eae up of hu of the et of the roprey to tpeilu ennsa, ducnilg 130,000 aeuq et to esaehr in onit. iltatemy, shreea in onti auhrsdc the eint peryor gturti to coee its U.S. ed-esurat.
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