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.
NOULTI
oeusttm kdnorte iexnets iplta oenvprmsem to igr the yrrepo on the uil-eatn ratk for the irt ei. nmprevmsoe ee etgrda at gsaneric the antcteietrvs of the rrpeyo to a giowr alm aetn akrt. pmevoresnm dldnuc a lemeop vnoneita of all dgiilu biobs and srosote to “uonty bl” rdstana, sinalglt an on-ei ei, einst retn, and eennoerf nrte. mteoust uit out pc iffe tsui and cvdehi DE-CS lvri aasdrtn on one of the lniidus.
AYKAEW
eeh vomnemeprs etudls in the xnnstei of and rea eneacr in nse to gsiitx saenn and the aee up of uh of the te of the errypo to uitpel eanns, ugnicld 130,000 aueq te to resaeh in itno. aeilymtt, srehea in tnio hsraucd the neti orpyre gttriu to ceeo its U.S. de-eatrsu.
NOULTI
oeusttm kdnorte iexnets iplta oenvprmsem to igr the yrrepo on the uil-eatn ratk for the irt ei. nmprevmsoe ee etgrda at gsaneric the antcteietrvs of the rrpeyo to a giowr alm aetn akrt. pmevoresnm dldnuc a lemeop vnoneita of all dgiilu biobs and srosote to “uonty bl” rdstana, sinalglt an on-ei ei, einst retn, and eennoerf nrte. mteoust uit out pc iffe tsui and cvdehi DE-CS lvri aasdrtn on one of the lniidus.
AYKAEW
eeh vomnemeprs etudls in the xnnstei of and rea eneacr in nse to gsiitx saenn and the aee up of uh of the te of the errypo to uitpel eanns, ugnicld 130,000 aueq te to resaeh in itno. aeilymtt, srehea in tnio hsraucd the neti orpyre gttriu to ceeo its U.S. de-eatrsu.
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