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.
NOTLIU
emuttos rkotend nsixeet laipt evmsmoernp to rig the rrpyoe no the iul-aetn trka for the tir ie. vemrompens ee agedtr at csrinaeg the tesnevrticat of the rroepy to a rigwo lma aent atkr. eonsmpevmr uddcnl a epleom votnanei of all liudig oibbs and tsrsoeo to “tnoyu lb” tdasarn, tsilngla an on-ie ei, neist nert, and ferneneo rnet. uttmoes iut out cp iffe suti and ehvcid ED-CS lriv antrdas on one of the dnsliiu.
WKEAAY
hee neosrmvmpe leduts in the snixten of and rae eacern in ens to giitsx nsaen and the eea up of hu of the te of the orpeyr to ulipte annse, clduing 130,000 quae et to sahree in onit. eylitmat, eheasr in tnoi drshauc the etin opyerr tugrti to eeoc its U.S. ed-retusa.
NOTLIU
emuttos rkotend nsixeet laipt evmsmoernp to rig the rrpyoe no the iul-aetn trka for the tir ie. vemrompens ee agedtr at csrinaeg the tesnevrticat of the rroepy to a rigwo lma aent atkr. eonsmpevmr uddcnl a epleom votnanei of all liudig oibbs and tsrsoeo to “tnoyu lb” tdasarn, tsilngla an on-ie ei, neist nert, and ferneneo rnet. uttmoes iut out cp iffe suti and ehvcid ED-CS lriv antrdas on one of the dnsliiu.
WKEAAY
hee neosrmvmpe leduts in the snixten of and rae eacern in ens to giitsx nsaen and the eea up of hu of the te of the orpeyr to ulipte annse, clduing 130,000 quae et to sahree in onit. eylitmat, eheasr in tnoi drshauc the etin opyerr tugrti to eeoc its U.S. ed-retusa.
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