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.
INOLUT
eostmut doteknr teensix ialtp noemvprsem to rgi the poyrre no the liu-tena tark for the itr ie. eomempnsvr ee gaetdr at gnacsrei the vrttecnatesi of the eyrpro to a oirgw aml ntea krat. emvpnomesr unldcd a mpleoe itenavon of all iuigld bbosi and teoossr to “yuont bl” dnatsra, itnglsal an on-ie ie, siten tren, and nneeeorf tern. uteomts iut out cp iffe tius and heicvd ED-CS vlir sdaarnt on one of the ulnsdii.
AWYAEK
ehe eommensvrp tldseu in the seintxn of and era necera in ens to gtiixs nanse and the eae up of hu of the te of the oryrpe to ptluie nasne, lncdigu 130,000 aueq te to sehera in ntoi. imtytale, reehas in oint rchuads the eint prroye rutgit to oece its U.S. de-useart.
INOLUT
eostmut doteknr teensix ialtp noemvprsem to rgi the poyrre no the liu-tena tark for the itr ie. eomempnsvr ee gaetdr at gnacsrei the vrttecnatesi of the eyrpro to a oirgw aml ntea krat. emvpnomesr unldcd a mpleoe itenavon of all iuigld bbosi and teoossr to “yuont bl” dnatsra, itnglsal an on-ie ie, siten tren, and nneeeorf tern. uteomts iut out cp iffe tius and heicvd ED-CS vlir sdaarnt on one of the ulnsdii.
AWYAEK
ehe eommensvrp tldseu in the seintxn of and era necera in ens to gtiixs nanse and the eae up of hu of the te of the oryrpe to ptluie nasne, lncdigu 130,000 aueq te to sehera in ntoi. imtytale, reehas in oint rchuads the eint prroye rutgit to oece its U.S. de-useart.
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