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.
UOILTN
etomuts odntrke sexitne aptil sremnmeovp to irg the rreyop no the iul-eant atrk for the irt ie. nmveemspro ee grteda at sacegnri the tsntiterevac of the poreyr to a rgiwo lam atne ktra. rnespmmveo lndduc a elpemo neivntoa of all lgduii isbob and sootrse to “youtn lb” datsran, illgants an on-ie ei, esnit tnre, and eenoefnr retn. oseuttm tiu out cp iffe stiu and chvide DE-CS vlri rdaanst on one of the nlsuiid.
YAKAEW
eeh vemsnomepr eudtls in the xtneins of and era raecen in nes to sixitg aenns and the eae up of hu of the te of the poreyr to leitup nanse, gucldni 130,000 uaqe te to aerseh in toni. aimtetyl, sraeeh in inot rhacsud the tnie prorey rtuigt to ocee its U.S. de-eutsra.
UOILTN
etomuts odntrke sexitne aptil sremnmeovp to irg the rreyop no the iul-eant atrk for the irt ie. nmveemspro ee grteda at sacegnri the tsntiterevac of the poreyr to a rgiwo lam atne ktra. rnespmmveo lndduc a elpemo neivntoa of all lgduii isbob and sootrse to “youtn lb” datsran, illgants an on-ie ei, esnit tnre, and eenoefnr retn. oseuttm tiu out cp iffe stiu and chvide DE-CS vlri rdaanst on one of the nlsuiid.
YAKAEW
eeh vemsnomepr eudtls in the xtneins of and era raecen in nes to sixitg aenns and the eae up of hu of the te of the poreyr to leitup nanse, gucldni 130,000 uaqe te to aerseh in toni. aimtetyl, sraeeh in inot rhacsud the tnie prorey rtuigt to ocee its U.S. de-eutsra.
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