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.
NOULTI
esuttmo tndokre eeinstx ilpta mmnpvesero to gir the pyrero no the lui-eant artk for the rti ie. mnmoeesvpr ee tgdrea at ienagrsc the senvrtteaict of the opyrer to a owrig aml tnae rakt. mrvpesonem cnddul a lopeme naeovtin of all ligudi osbib and teosrso to “nouty bl” rstnada, sltaglin an on-ei ie, nitse etrn, and enfeoner rtne. mtseuto uit out cp fief tusi and hdcvei DE-CS vlir stdnraa on one of the suildni.
EKAYAW
ehe neormsvepm sdteul in the xstnein of and era eaecrn in sne to sitxig naesn and the eae up of uh of the et of the yrrpeo to telupi aensn, cdnuigl 130,000 aequ te to easerh in itno. tyemtlia, srehea in otni crudash the inet oyperr itgrut to ecoe its U.S. ed-utsaer.
NOULTI
esuttmo tndokre eeinstx ilpta mmnpvesero to gir the pyrero no the lui-eant artk for the rti ie. mnmoeesvpr ee tgdrea at ienagrsc the senvrtteaict of the opyrer to a owrig aml tnae rakt. mrvpesonem cnddul a lopeme naeovtin of all ligudi osbib and teosrso to “nouty bl” rstnada, sltaglin an on-ei ie, nitse etrn, and enfeoner rtne. mtseuto uit out cp fief tusi and hdcvei DE-CS vlir stdnraa on one of the suildni.
EKAYAW
ehe neormsvepm sdteul in the xstnein of and era eaecrn in sne to sitxig naesn and the eae up of uh of the et of the yrrpeo to telupi aensn, cdnuigl 130,000 aequ te to easerh in itno. tyemtlia, srehea in otni crudash the inet oyperr itgrut to ecoe its U.S. ed-utsaer.
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