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.
INUOTL
stmuote drntoke nexiets lipta enormevmps to igr the rpryoe no the lui-nate rakt for the tri ei. mspmvonree ee adtrge at ganiscre the esittvtnaerc of the eprryo to a ogriw mla etan ratk. seevpmrnom dndlcu a moelep ievtnona of all igiudl oisbb and ssroeot to “noyut bl” datansr, gisnallt an on-ei ei, tinse nret, and frnenoee netr. uemstto iut out cp fief usti and eihcvd DE-CS rvli ndartas on one of the iuidsln.
AWKEAY
hee spmorevmen tdselu in the xisnnte of and rae ncreea in nes to sigtix ansne and the eea up of hu of the te of the rroype to teulpi nanse, cgnludi 130,000 euqa et to earehs in onit. ayelmtit, sahere in nito chusard the nite eoyrpr irttug to eeco its U.S. de-suetra.
INUOTL
stmuote drntoke nexiets lipta enormevmps to igr the rpryoe no the lui-nate rakt for the tri ei. mspmvonree ee adtrge at ganiscre the esittvtnaerc of the eprryo to a ogriw mla etan ratk. seevpmrnom dndlcu a moelep ievtnona of all igiudl oisbb and ssroeot to “noyut bl” datansr, gisnallt an on-ei ei, tinse nret, and frnenoee netr. uemstto iut out cp fief usti and eihcvd DE-CS rvli ndartas on one of the iuidsln.
AWKEAY
hee spmorevmen tdselu in the xisnnte of and rae ncreea in nes to sigtix ansne and the eea up of hu of the te of the rroype to teulpi nanse, cgnludi 130,000 euqa et to earehs in onit. ayelmtit, sahere in nito chusard the nite eoyrpr irttug to eeco its U.S. de-suetra.
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