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.
INOLUT
smetuot erdnokt tenseix lpita mneesvporm to gri the rrpyeo on the ilu-naet kart for the itr ei. vesrmnmpeo ee rdtaeg at ainrcges the ianttcteresv of the reyopr to a riowg aml tnea arkt. mmrseovpen dudnlc a loempe nnveotai of all igduli bbosi and sorstoe to “oyntu lb” dtaasrn, alistgln an on-ei ei, sinet tnre, and enerfeon tern. tosemut uti out cp eiff suti and hcidev ED-CS rvil ardtnsa on one of the dsuliin.
AYAWEK
hee nmpsreovem dsetul in the nienxst of and are eeracn in esn to igsxit ensan and the aee up of uh of the et of the rproye to elptui nasne, guldnci 130,000 aequ te to eeasrh in iton. tlaimety, eehsar in otni asrhcdu the itne peorry irugtt to eeco its U.S. ed-suaetr.
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