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.
TOUILN
tsmeuot kdtoenr estxien italp meoernpsmv to rgi the rreoyp on the ilu-ntae tkra for the itr ei. vespnmemor ee rgatde at gsrnieca the seentvrttica of the eorpry to a rwgio lam etan tkra. pomvmesenr culdnd a lomeep itannove of all idiulg bsbio and stseoor to “uytno bl” tnsadra, asnllgti an on-ie ei, sneit tner, and nrenefoe tren. otustem uti out pc ffei iuts and hcdvei DE-CS rlvi tanards on one of the iidunsl.
WAKYAE
ehe mrvepnemso sledut in the sntxeni of and rae rcneae in nes to isxitg nnesa and the eae up of hu of the te of the yrpreo to etlipu asnen, glcdinu 130,000 aequ et to haeres in tnoi. tteylami, srehea in itno hdsurac the etni eryopr griutt to coee its U.S. ed-earust.
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