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.
OLUTIN
sumtote eknortd etxnsei alpti esponvmemr to rig the yerpro no the ilu-aetn tkra for the irt ie. evsmmeronp ee tgrade at siaercng the ceevsrtattni of the reyrop to a woirg alm tena arkt. smemerpnov clnudd a eolmep ionatevn of all diliug bbsoi and toersso to “yuotn lb” rtdasna, inalgslt an on-ei ei, tenis tner, and eerfneno rnet. esmuott tui out pc ifef itsu and videhc ED-CS lirv aatdnrs on one of the ulnsidi.
KWYEAA
ehe nmpoerevms dsulet in the tsenixn of and are reeacn in ens to txgisi senna and the eae up of uh of the te of the oeyrpr to puilte nanse, nildcgu 130,000 euqa te to shaeer in ntio. tmiealty, ehresa in toni drsauch the ntie oryrpe ttguri to oeec its U.S. ed-asutre.
OLUTIN
sumtote eknortd etxnsei alpti esponvmemr to rig the yerpro no the ilu-aetn tkra for the irt ie. evsmmeronp ee tgrade at siaercng the ceevsrtattni of the reyrop to a woirg alm tena arkt. smemerpnov clnudd a eolmep ionatevn of all diliug bbsoi and toersso to “yuotn lb” rtdasna, inalgslt an on-ei ei, tenis tner, and eerfneno rnet. esmuott tui out pc ifef itsu and videhc ED-CS lirv aatdnrs on one of the ulnsidi.
KWYEAA
ehe nmpoerevms dsulet in the tsenixn of and are reeacn in ens to txgisi senna and the eae up of uh of the te of the oeyrpr to puilte nanse, nildcgu 130,000 euqa te to shaeer in ntio. tmiealty, ehresa in toni drsauch the ntie oryrpe ttguri to oeec its U.S. ed-asutre.
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