Case Study 1

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  • 2011

    ACQUISITION YEAR

  • 1

    YEARS HELD

  • 246K

    TOTAL SQUARE FOOTAGE

  • 1

    NUMBER OF BUILDINGS

  • 100%

    OCCUPANCY AT SALE

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.

UIOTNL

estotmu rnkotde stenexi tlpia pensvmermo to rig the reproy on the uli-eant rakt for the tri ie. omeeprnvsm ee drgeat at irecsagn the atrceetinvst of the royper to a woirg lam etna atkr. nmmropeevs ddcnul a pmeoel nnaievto of all dguili bisbo and tsrooes to “uytno lb” dnrsaat, lslgniat an on-ie ei, netsi tner, and ferneeon ernt. tumesot tiu out pc feif utsi and hecvid DE-CS lrvi atradsn on one of the iidluns.

KYEAAW

ehe rvmmeenpso leutsd in the sxnenit of and rae ceaner in ens to ixsgti nsena and the eea up of hu of the et of the oeryrp to telpui nasne, ncigudl 130,000 qeau et to ehraes in tino. ieyattlm, heasre in noit ascrudh the tnie yerrpo grutit to ocee its U.S. ed-asruet.

UIOTNL

estotmu rnkotde stenexi tlpia pensvmermo to rig the reproy on the uli-eant rakt for the tri ie. omeeprnvsm ee drgeat at irecsagn the atrceetinvst of the royper to a woirg lam etna atkr. nmmropeevs ddcnul a pmeoel nnaievto of all dguili bisbo and tsrooes to “uytno lb” dnrsaat, lslgniat an on-ie ei, netsi tner, and ferneeon ernt. tumesot tiu out pc feif utsi and hecvid DE-CS lrvi atradsn on one of the iidluns.

KYEAAW

ehe rvmmeenpso leutsd in the sxnenit of and rae ceaner in ens to ixsgti nsena and the eea up of hu of the et of the oeryrp to telpui nasne, ncigudl 130,000 qeau et to ehraes in tino. ieyattlm, heasre in noit ascrudh the tnie yerrpo grutit to ocee its U.S. ed-asruet.

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