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.
ITUNLO
mtsoetu okndret stxinee atlpi eperonvmsm to rgi the yoprer no the lui-naet tkar for the tir ei. vesmepnmor ee argedt at iarngecs the tsvtiteenacr of the preyro to a riowg mla enat trka. eprnevmoms uddcnl a omeepl ntieonva of all gduiil ibbso and erossto to “ouytn bl” aasndtr, llaisngt an on-ei ei, eitsn enrt, and nnroeefe entr. tmteuos iut out cp ffei iuts and hiecdv DE-CS lvri snrtada on one of the usdliin.
WKEYAA
hee nmpevsmeor elutsd in the estnixn of and era ranece in sen to sgtxii nnsea and the eae up of uh of the te of the epyror to euitpl nenas, nuclgdi 130,000 eaqu te to reehsa in otni. temiyalt, raseeh in nito dscrauh the ient reyorp uittrg to ocee its U.S. de-teasur.
ITUNLO
mtsoetu okndret stxinee atlpi eperonvmsm to rgi the yoprer no the lui-naet tkar for the tir ei. vesmepnmor ee argedt at iarngecs the tsvtiteenacr of the preyro to a riowg mla enat trka. eprnevmoms uddcnl a omeepl ntieonva of all gduiil ibbso and erossto to “ouytn bl” aasndtr, llaisngt an on-ei ei, eitsn enrt, and nnroeefe entr. tmteuos iut out cp ffei iuts and hiecdv DE-CS lvri snrtada on one of the usdliin.
WKEYAA
hee nmpevsmeor elutsd in the estnixn of and era ranece in sen to sgtxii nnsea and the eae up of uh of the te of the epyror to euitpl nenas, nuclgdi 130,000 eaqu te to reehsa in otni. temiyalt, raseeh in nito dscrauh the ient reyorp uittrg to ocee its U.S. de-teasur.
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