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.
NULTIO
totsume edrtkon teexins pilta mesmpvoenr to rig the orerpy on the lui-neat ktra for the tri ie. oveemmsrpn ee gteard at nrescgai the vrntstciaete of the oprrey to a owirg mal tean ktra. eepvmomsnr lddunc a lpeoem vnaontei of all gdiuil bbsio and oosrtes to “nyuot lb” adstnar, gsalntli an on-ie ie, senit trne, and efeonren retn. tmoestu uit out pc eiff utis and iehdvc ED-CS rlvi rasadnt on one of the sliiudn.
YAKEAW
ehe msreoevnpm setuld in the exnsnti of and aer arneec in ens to tiisgx esann and the eae up of uh of the et of the reproy to euplit naens, lcdunig 130,000 auqe te to arseeh in noti. lyietmta, earehs in iton rdashuc the neti yerrop rutgti to ocee its U.S. de-trseau.
NULTIO
totsume edrtkon teexins pilta mesmpvoenr to rig the orerpy on the lui-neat ktra for the tri ie. oveemmsrpn ee gteard at nrescgai the vrntstciaete of the oprrey to a owirg mal tean ktra. eepvmomsnr lddunc a lpeoem vnaontei of all gdiuil bbsio and oosrtes to “nyuot lb” adstnar, gsalntli an on-ie ie, senit trne, and efeonren retn. tmoestu uit out pc eiff utis and iehdvc ED-CS rlvi rasadnt on one of the sliiudn.
YAKEAW
ehe msreoevnpm setuld in the exnsnti of and aer arneec in ens to tiisgx esann and the eae up of uh of the et of the reproy to euplit naens, lcdunig 130,000 auqe te to arseeh in noti. lyietmta, earehs in iton rdashuc the neti yerrop rutgti to ocee its U.S. de-trseau.
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