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.
NTILUO
esttmuo rokedtn sexinet ptlai permnsemov to rig the pyroer on the lui-tnae kart for the rit ie. eronemmpsv ee rtgdae at gicesanr the evscatteitrn of the yrrepo to a iowrg aml tnae ktra. mvsreempno dudncl a omelpe vneointa of all idulig bsbio and ooetsrs to “yunto bl” atrasnd, gilnsatl an on-ei ie, esnti retn, and eofnener tner. usmetot uti out pc effi siut and vidhce ED-CS rilv rasntda on one of the siiudnl.
AWAEYK
hee mmeepvnsro setudl in the ixentns of and rea eacern in esn to xigtis snane and the eea up of hu of the te of the rrepyo to itlpeu nsean, gclndui 130,000 aqeu et to herase in tino. teimytal, resahe in ntio acdhrsu the ntei yeorrp rtugti to oeec its U.S. ed-artesu.
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