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.
IONUTL
tmeuost ontrdke snexeti italp emvesrpnmo to gir the oyprer no the lui-ntea tkar for the tir ie. mevnmersop ee tegrda at nigcesra the cartteisenvt of the yerrpo to a wogri aml tnea artk. ensvmopemr dncudl a leopem aeniovtn of all igduli bbiso and soosret to “onytu bl” atasnrd, glastinl an on-ei ie, ients rnet, and oeerenfn ntre. mtteuso tui out cp ffie situ and hievcd DE-CS vrli rsatand on one of the ldiusin.
AYAWEK
eeh nsorpmmeve detslu in the xsntien of and aer canere in ens to gtiixs nasen and the aee up of hu of the te of the eporry to utlpie naens, udlcign 130,000 qeua et to ehsrae in toni. tiltaeym, harees in ntio arhscdu the iten rpryoe tutirg to coee its U.S. de-setaru.
IONUTL
tmeuost ontrdke snexeti italp emvesrpnmo to gir the oyprer no the lui-ntea tkar for the tir ie. mevnmersop ee tegrda at nigcesra the cartteisenvt of the yerrpo to a wogri aml tnea artk. ensvmopemr dncudl a leopem aeniovtn of all igduli bbiso and soosret to “onytu bl” atasnrd, glastinl an on-ei ie, ients rnet, and oeerenfn ntre. mtteuso tui out cp ffie situ and hievcd DE-CS vrli rsatand on one of the ldiusin.
AYAWEK
eeh nsorpmmeve detslu in the xsntien of and aer canere in ens to gtiixs nasen and the aee up of hu of the te of the eporry to utlpie naens, udlcign 130,000 qeua et to ehsrae in toni. tiltaeym, harees in ntio arhscdu the iten rpryoe tutirg to coee its U.S. de-setaru.
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