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.

TUOLIN

uottmse todkenr ienstxe atlip nmesmorpve to rgi the rreopy no the ilu-taen rtka for the tri ie. mnvpersoem ee dagter at aegnisrc the irtacnteestv of the rpreyo to a woigr aml tane krta. rpemvmosen cdldnu a empelo vniaoten of all ilduig bibso and osersot to “unoyt bl” tadrnas, glinatls an on-ei ie, tenis nter, and froennee ernt. ttueoms tiu out cp fief siut and hdcive ED-CS lriv aatnrds on one of the sudilni.

KAYEAW

hee prmemvnose stedlu in the ixtenns of and ear rneaec in sen to itsixg anens and the eea up of uh of the et of the epoyrr to iuplte snane, duclgin 130,000 aequ et to sehaer in onit. tielaytm, arehes in oint dchausr the neit eroryp ttgrui to eeco its U.S. de-euastr.

TUOLIN

uottmse todkenr ienstxe atlip nmesmorpve to rgi the rreopy no the ilu-taen rtka for the tri ie. mnvpersoem ee dagter at aegnisrc the irtacnteestv of the rpreyo to a woigr aml tane krta. rpemvmosen cdldnu a empelo vniaoten of all ilduig bibso and osersot to “unoyt bl” tadrnas, glinatls an on-ei ie, tenis nter, and froennee ernt. ttueoms tiu out cp fief siut and hdcive ED-CS lriv aatnrds on one of the sudilni.

KAYEAW

hee prmemvnose stedlu in the ixtenns of and ear rneaec in sen to itsixg anens and the eea up of uh of the et of the epoyrr to iuplte snane, duclgin 130,000 aequ et to sehaer in onit. tielaytm, arehes in oint dchausr the neit eroryp ttgrui to eeco its U.S. de-euastr.

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