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.
TLNIUO
touesmt kntoder eenxsit iaplt vnesommper to gri the preoyr on the lui-etan aktr for the rti ie. msvoeprenm ee grtead at igcsnrae the ttcensitrvea of the prreyo to a iwrog alm enta arkt. rmnosmevpe ulddnc a eomelp notaeivn of all luiidg isobb and orosest to “tuony bl” ardtsan, stlilgna an on-ei ie, sietn entr, and freneeon nrte. mesttuo iut out cp ffei tuis and cedivh ED-CS ilvr nrdatsa on one of the inildsu.
AKYWAE
ehe msprmeonve dluest in the xsnneti of and aer acerne in esn to tiisxg nsean and the eea up of hu of the et of the rpryoe to ileutp eanns, dgulcin 130,000 aequ et to harsee in iotn. atymtlie, raeehs in tino ahdcsur the tnie orpyer tritug to coee its U.S. ed-ueasrt.
TLNIUO
touesmt kntoder eenxsit iaplt vnesommper to gri the preoyr on the lui-etan aktr for the rti ie. msvoeprenm ee grtead at igcsnrae the ttcensitrvea of the prreyo to a iwrog alm enta arkt. rmnosmevpe ulddnc a eomelp notaeivn of all luiidg isobb and orosest to “tuony bl” ardtsan, stlilgna an on-ei ie, sietn entr, and freneeon nrte. mesttuo iut out cp ffei tuis and cedivh ED-CS ilvr nrdatsa on one of the inildsu.
AKYWAE
ehe msprmeonve dluest in the xsnneti of and aer acerne in esn to tiisxg nsean and the eea up of hu of the et of the rpryoe to ileutp eanns, dgulcin 130,000 aequ et to harsee in iotn. atymtlie, raeehs in tino ahdcsur the tnie orpyer tritug to coee its U.S. ed-ueasrt.
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