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.
OUTLIN
sutmteo rdotken snieetx atipl ormvsenmpe to rgi the peyorr no the iul-tena trak for the tir ei. eeommvrpsn ee rtadge at gasecnir the sirntavtecte of the rrypoe to a orgwi mal eant aktr. nreeopmvsm ndcldu a pmolee teoanivn of all iildug sibob and ssoeotr to “ytnou bl” adnsrat, lantgsil an on-ei ei, sneti ernt, and ennfeeor rtne. utetosm uti out pc ieff itus and cvhied ED-CS livr tnsraad on one of the udnsiil.
EYKAAW
hee mevnersmpo duetsl in the instxne of and era enerca in nse to gitixs nnsae and the eae up of uh of the te of the oyrpre to ipeult aensn, ligcdun 130,000 qaue et to heaser in noit. tytliaem, heears in otin uhdracs the tein preory uittgr to eeoc its U.S. de-uerats.
OUTLIN
sutmteo rdotken snieetx atipl ormvsenmpe to rgi the peyorr no the iul-tena trak for the tir ei. eeommvrpsn ee rtadge at gasecnir the sirntavtecte of the rrypoe to a orgwi mal eant aktr. nreeopmvsm ndcldu a pmolee teoanivn of all iildug sibob and ssoeotr to “ytnou bl” adnsrat, lantgsil an on-ei ei, sneti ernt, and ennfeeor rtne. utetosm uti out pc ieff itus and cvhied ED-CS livr tnsraad on one of the udnsiil.
EYKAAW
hee mevnersmpo duetsl in the instxne of and era enerca in nse to gitixs nnsae and the eae up of uh of the te of the oyrpre to ipeult aensn, ligcdun 130,000 qaue et to heaser in noit. tytliaem, heears in otin uhdracs the tein preory uittgr to eeoc its U.S. de-uerats.
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