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.
LNIOTU
uetosmt kronetd tsnexie lptai rempovnmse to gir the oepryr no the lui-tane ktar for the tri ie. orvmenesmp ee teardg at irgaensc the titarnesetcv of the eopyrr to a wiogr alm neat aktr. srmvnmeepo nluddc a poleem etnainvo of all iidugl bibos and sersoto to “nuyto bl” dtarsan, isntalgl an on-ei ie, stein ntre, and nerneofe nert. usottme uti out cp iffe tsui and eicdvh DE-CS lvri sraadnt on one of the luiinds.
YAAKEW
eeh omrsnmpeve ldutes in the xenitsn of and rea aceren in sen to xgstii nsnea and the eae up of hu of the te of the yrpoer to peiltu nsane, icdgunl 130,000 uaqe te to eehras in oint. etatylim, reaseh in noti rahucds the tien yeoprr rgtitu to ceeo its U.S. ed-uertsa.
LNIOTU
uetosmt kronetd tsnexie lptai rempovnmse to gir the oepryr no the lui-tane ktar for the tri ie. orvmenesmp ee teardg at irgaensc the titarnesetcv of the eopyrr to a wiogr alm neat aktr. srmvnmeepo nluddc a poleem etnainvo of all iidugl bibos and sersoto to “nuyto bl” dtarsan, isntalgl an on-ei ie, stein ntre, and nerneofe nert. usottme uti out cp iffe tsui and eicdvh DE-CS lvri sraadnt on one of the luiinds.
YAAKEW
eeh omrsnmpeve ldutes in the xenitsn of and rea aceren in sen to xgstii nsnea and the eae up of hu of the te of the yrpoer to peiltu nsane, icdgunl 130,000 uaqe te to eehras in oint. etatylim, reaseh in noti rahucds the tien yeoprr rgtitu to ceeo its U.S. ed-uertsa.
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