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.
TOLUIN
uesmtto ndotrek nxeties ailtp semomvrpen to igr the rorpye on the uli-naet akrt for the irt ie. posevemnrm ee atdger at cgansier the rtesvitcante of the ropery to a irogw alm atne krat. mrpenmeosv lducnd a elmoep toieanvn of all dgulii bsboi and ersosot to “tunyo lb” dransat, sallnigt an on-ei ei, ntise nret, and eeonnefr nrte. teotums uti out cp fife isut and ivedhc DE-CS vlir anrtasd on one of the nilsdui.
WYAEAK
eeh mmsovrepen lesdut in the xsnietn of and era ecnaer in nes to xstigi nnesa and the aee up of uh of the et of the yoerrp to peuitl asenn, iglnucd 130,000 aque et to hersae in tnio. yttlaeim, hserae in itno cruhsda the tnei yprroe titgur to ceeo its U.S. de-asetru.
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