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
oteutms otkdner ntsexei patli ermnesvmop to gir the reoryp no the lui-tnae ratk for the rit ie. ovmnrmepse ee degatr at grcaeins the tntrcivatese of the eryopr to a orwgi lma taen ratk. posvnememr dcldun a molepe voaietnn of all igdlui ibbso and rosteso to “ounty bl” daarnts, nilgtlas an on-ei ie, netsi rent, and efroenen netr. oetsutm tui out pc fief itsu and edvich DE-CS rilv atnrsda on one of the uildnsi.
AWKEYA
eeh nvsmpmeoer esudtl in the tnniesx of and ear ceenar in esn to xsgiti annse and the eea up of uh of the te of the porery to lutipe aenns, gudlcin 130,000 uqea et to arhese in oint. yltmeita, rehsae in iton sdurahc the neti oryrpe rtigut to ceeo its U.S. de-tusrea.
OUTLIN
oteutms otkdner ntsexei patli ermnesvmop to gir the reoryp no the lui-tnae ratk for the rit ie. ovmnrmepse ee degatr at grcaeins the tntrcivatese of the eryopr to a orwgi lma taen ratk. posvnememr dcldun a molepe voaietnn of all igdlui ibbso and rosteso to “ounty bl” daarnts, nilgtlas an on-ei ie, netsi rent, and efroenen netr. oetsutm tui out pc fief itsu and edvich DE-CS rilv atnrsda on one of the uildnsi.
AWKEYA
eeh nvsmpmeoer esudtl in the tnniesx of and ear ceenar in esn to xsgiti annse and the eea up of uh of the te of the porery to lutipe aenns, gudlcin 130,000 uqea et to arhese in oint. yltmeita, rehsae in iton sdurahc the neti oryrpe rtigut to ceeo its U.S. de-tusrea.
View All
