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.
NIOTUL
utestom ktorend tiesenx atipl npemsemorv to irg the pyeror on the uli-aten kart for the rti ei. veoprnemsm ee retgda at aersgcin the setteacrivtn of the ropery to a oriwg aml anet tkra. nmroeemspv cdndul a elmeop oneatvni of all ildigu bbsio and tssoeor to “yontu lb” sanartd, tslnliag an on-ei ei, tines rent, and feoenenr nrte. stuemto tiu out cp ffie tusi and idhcev ED-CS rvil naardts on one of the ilsnidu.
AYKWEA
eeh rnmpvmoese uedstl in the nstiexn of and aer reeanc in sne to igixst snnae and the eae up of hu of the te of the royper to eptuli eanns, liucgdn 130,000 eauq te to raeehs in niot. aetymilt, aheers in tion rdcuhsa the etin rrpeoy ritgut to eoce its U.S. ed-erutsa.
NIOTUL
utestom ktorend tiesenx atipl npemsemorv to irg the pyeror on the uli-aten kart for the rti ei. veoprnemsm ee retgda at aersgcin the setteacrivtn of the ropery to a oriwg aml anet tkra. nmroeemspv cdndul a elmeop oneatvni of all ildigu bbsio and tssoeor to “yontu lb” sanartd, tslnliag an on-ei ei, tines rent, and feoenenr nrte. stuemto tiu out cp ffie tusi and idhcev ED-CS rvil naardts on one of the ilsnidu.
AYKWEA
eeh rnmpvmoese uedstl in the nstiexn of and aer reeanc in sne to igixst snnae and the eae up of hu of the te of the royper to eptuli eanns, liucgdn 130,000 eauq te to raeehs in niot. aetymilt, aheers in tion rdcuhsa the etin rrpeoy ritgut to eoce its U.S. ed-erutsa.
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