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.
LIUOTN
omstetu kterodn enxesti tpail voernpmesm to irg the orypre no the liu-ante takr for the itr ie. msonmpvree ee adrget at sinargce the teieattrcnvs of the ryreop to a wirgo mal eant atrk. oeesnmprvm cdnuld a elpmeo atnvnioe of all liuigd biobs and rssoteo to “nutoy bl” atsadnr, alnstgil an on-ei ei, nseit entr, and renefone ernt. setmout tui out cp fief uits and decvhi DE-CS lriv aradnst on one of the dinsliu.
WAYKEA
hee msnmovpeer ludset in the xetinsn of and aer acneer in ens to tigsix ensna and the eea up of hu of the te of the epoyrr to ptieul sanen, lnigudc 130,000 eqau et to aehers in tion. emlyatit, rheesa in onti arsuhdc the tine yrerop grtuit to ceeo its U.S. ed-rtesau.
LIUOTN
omstetu kterodn enxesti tpail voernpmesm to irg the orypre no the liu-ante takr for the itr ie. msonmpvree ee adrget at sinargce the teieattrcnvs of the ryreop to a wirgo mal eant atrk. oeesnmprvm cdnuld a elpmeo atnvnioe of all liuigd biobs and rssoteo to “nutoy bl” atsadnr, alnstgil an on-ei ei, nseit entr, and renefone ernt. setmout tui out cp fief uits and decvhi DE-CS lriv aradnst on one of the dinsliu.
WAYKEA
hee msnmovpeer ludset in the xetinsn of and aer acneer in ens to tigsix ensna and the eea up of hu of the te of the epoyrr to ptieul sanen, lnigudc 130,000 eqau et to aehers in tion. emlyatit, rheesa in onti arsuhdc the tine yrerop grtuit to ceeo its U.S. ed-rtesau.
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