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.
OUTLIN
mtsuoet etrndko xitsene ipalt nrsveompem to rig the yrroep on the uli-enta aktr for the irt ei. mormnsepev ee ratedg at ansrigec the nertvasitect of the oerpyr to a rgwoi mal tane katr. nmesmpveor luddnc a epelmo invteano of all ldgiiu obisb and estsoor to “noytu bl” snadtar, nitaglls an on-ie ei, teins etrn, and eoernnfe etrn. ttsmuoe uti out cp feif suti and cvhide ED-CS rivl asatdrn on one of the isulidn.
AKAWEY
ehe ornemepsvm ldtesu in the etisxnn of and rea ceeran in nes to sxgtii nanse and the eea up of uh of the et of the poryre to uplite nesna, ncduigl 130,000 uaeq te to eshrae in oint. eityatlm, rsaehe in iont ducrsah the inte rreyop tuigrt to eeoc its U.S. de-aeturs.
OUTLIN
mtsuoet etrndko xitsene ipalt nrsveompem to rig the yrroep on the uli-enta aktr for the irt ei. mormnsepev ee ratedg at ansrigec the nertvasitect of the oerpyr to a rgwoi mal tane katr. nmesmpveor luddnc a epelmo invteano of all ldgiiu obisb and estsoor to “noytu bl” snadtar, nitaglls an on-ie ei, teins etrn, and eoernnfe etrn. ttsmuoe uti out cp feif suti and cvhide ED-CS rivl asatdrn on one of the isulidn.
AKAWEY
ehe ornemepsvm ldtesu in the etisxnn of and rea ceeran in nes to sxgtii nanse and the eea up of uh of the et of the poryre to uplite nesna, ncduigl 130,000 uaeq te to eshrae in oint. eityatlm, rsaehe in iont ducrsah the inte rreyop tuigrt to eeoc its U.S. de-aeturs.
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