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.
ITUNOL
souemtt enordtk exteins itlap rpsvnemeom to rgi the yorper no the uli-eatn krta for the itr ie. mmrspnveeo ee atdgre at ergiacns the iarsctentetv of the yerrpo to a oigrw aml tane ratk. vpsenmmreo dludcn a elmope nvaiotne of all iiguld iobsb and oortses to “uynto lb” aratnds, asgitlln an on-ie ei, eitns tren, and efroneen ertn. msettou uti out pc ieff suit and evcidh ED-CS irvl aasnrtd on one of the iduilsn.
AEAKWY
eeh vmmrponese uestld in the nnsietx of and rea reeanc in nse to gtsiix eanns and the eea up of hu of the te of the opeyrr to eiuplt nsnae, clgniud 130,000 aque te to erseha in noti. ettilamy, hseear in tnio ruhdsac the tein prorye ttgrui to eoec its U.S. ed-tesrau.
ITUNOL
souemtt enordtk exteins itlap rpsvnemeom to rgi the yorper no the uli-eatn krta for the itr ie. mmrspnveeo ee atdgre at ergiacns the iarsctentetv of the yerrpo to a oigrw aml tane ratk. vpsenmmreo dludcn a elmope nvaiotne of all iiguld iobsb and oortses to “uynto lb” aratnds, asgitlln an on-ie ei, eitns tren, and efroneen ertn. msettou uti out pc ieff suit and evcidh ED-CS irvl aasnrtd on one of the iduilsn.
AEAKWY
eeh vmmrponese uestld in the nnsietx of and rea reeanc in nse to gtsiix eanns and the eea up of hu of the te of the opeyrr to eiuplt nsnae, clgniud 130,000 aque te to erseha in noti. ettilamy, hseear in tnio ruhdsac the tein prorye ttgrui to eoec its U.S. ed-tesrau.
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