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.
NLUTOI
toemstu droektn ixsetne ltiap snopmevrme to gri the reoryp on the uil-tane rtka for the irt ei. nsermoevmp ee eadgtr at grniscae the atetcsrntvei of the royerp to a irgwo aml aten ratk. menrvopems luncdd a mloepe vonintae of all diligu oibbs and etsroso to “uonty lb” snaartd, gllsntia an on-ie ei, nesit enrt, and enefenro tenr. usoettm itu out pc ffei iust and ecidhv DE-CS vrli dtrsnaa on one of the lsiuidn.
AWKYAE
hee mnmevpsero tulsed in the tnxsnie of and rea crenea in ens to iitsxg nsaen and the eae up of uh of the te of the eoryrp to letipu nnaes, idgulnc 130,000 qaeu et to aehsre in iton. temayilt, hasere in otni hscaudr the enti rrpoey gtiurt to oece its U.S. de-ertaus.
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