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.
TULNOI
tstmoue rdetnko xsinete tlpia vpneoersmm to igr the roprye on the uil-tnea rtak for the irt ie. vnmrmepeso ee traedg at icargesn the vtcenirtaset of the oepryr to a rwiog alm neat atkr. peveommnrs cuddln a ompeel tnoinvae of all lgdiui bisbo and rosteos to “noyut bl” trsdaan, insalglt an on-ie ie, sinet nrte, and enneefro ernt. mettsuo tiu out cp ifef suit and chvedi DE-CS lriv drsaant on one of the nslidui.
KAWAYE
ehe esmvrnpmeo eustld in the esnxtni of and rae ercaen in esn to itxsgi senna and the aee up of uh of the te of the oreryp to itpelu sanne, dnclgiu 130,000 equa et to aheser in inot. ialeytmt, eraesh in oint hcsdura the tnie eyprro truigt to eeoc its U.S. ed-eautrs.
TULNOI
tstmoue rdetnko xsinete tlpia vpneoersmm to igr the roprye on the uil-tnea rtak for the irt ie. vnmrmepeso ee traedg at icargesn the vtcenirtaset of the oepryr to a rwiog alm neat atkr. peveommnrs cuddln a ompeel tnoinvae of all lgdiui bisbo and rosteos to “noyut bl” trsdaan, insalglt an on-ie ie, sinet nrte, and enneefro ernt. mettsuo tiu out cp ifef suit and chvedi DE-CS lriv drsaant on one of the nslidui.
KAWAYE
ehe esmvrnpmeo eustld in the esnxtni of and rae ercaen in esn to itxsgi senna and the aee up of uh of the te of the oreryp to itpelu sanne, dnclgiu 130,000 equa et to aheser in inot. ialeytmt, eraesh in oint hcsdura the tnie eyprro truigt to eeoc its U.S. ed-eautrs.
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