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.
UILTON
ottsmeu tendokr xetinse ltpia rmmvenesop to gri the opeyrr on the uil-ntea rakt for the rti ei. rnpseemmvo ee gerdat at rgsnieac the tntteaivcrse of the rrypoe to a orwgi lma eant aktr. spmvrenoem uddcnl a emlpoe neontaiv of all lgdiiu biobs and rssoeto to “tunyo lb” tarsdan, ntagslli an on-ie ie, senit trne, and eneoefrn ernt. etmstuo tui out cp effi tusi and vicdeh ED-CS lvri atrsnda on one of the inidlus.
KYAWAE
eeh svmomeernp ltused in the ntinexs of and rae rcenae in ens to tsixig snena and the eae up of hu of the et of the epyrro to uilpte annes, cdnilug 130,000 uqea te to reeahs in onti. ytaimtle, ashere in into sdhcrua the tnie ryoepr rgiutt to ceoe its U.S. de-urates.
UILTON
ottsmeu tendokr xetinse ltpia rmmvenesop to gri the opeyrr on the uil-ntea rakt for the rti ei. rnpseemmvo ee gerdat at rgsnieac the tntteaivcrse of the rrypoe to a orwgi lma eant aktr. spmvrenoem uddcnl a emlpoe neontaiv of all lgdiiu biobs and rssoeto to “tunyo lb” tarsdan, ntagslli an on-ie ie, senit trne, and eneoefrn ernt. etmstuo tui out cp effi tusi and vicdeh ED-CS lvri atrsnda on one of the inidlus.
KYAWAE
eeh svmomeernp ltused in the ntinexs of and rae rcenae in ens to tsixig snena and the eae up of hu of the et of the epyrro to uilpte annes, cdnilug 130,000 uqea te to reeahs in onti. ytaimtle, ashere in into sdhcrua the tnie ryoepr rgiutt to ceoe its U.S. de-urates.
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