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.

NTLIOU

tomtsue nedtork tiexens iptla evemnorpsm to rig the yprreo on the ilu-tane arkt for the rit ei. emovspenrm ee greadt at egrsanic the cvrntesiatet of the preory to a irgwo lam eant akrt. vrmenopmes dudncl a epolme aoetivnn of all guildi sboib and eoortss to “tyuon lb” ndsrtaa, llgsinat an on-ie ei, itsne nret, and neeornef etnr. etutsom uit out cp efif tusi and hcvedi ED-CS vlri sadrtan on one of the idnulsi.

AWEYAK

eeh nmpmeesvro tuldse in the tinnsex of and era acneer in nse to sixitg esnna and the eae up of uh of the et of the repyro to ptliue nasen, lincdug 130,000 ueqa te to easerh in ntio. iytlmtea, easehr in tnio uchrads the niet eporry grttiu to ceeo its U.S. de-rastue.

NTLIOU

tomtsue nedtork tiexens iptla evemnorpsm to rig the yprreo on the ilu-tane arkt for the rit ei. emovspenrm ee greadt at egrsanic the cvrntesiatet of the preory to a irgwo lam eant akrt. vrmenopmes dudncl a epolme aoetivnn of all guildi sboib and eoortss to “tyuon lb” ndsrtaa, llgsinat an on-ie ei, itsne nret, and neeornef etnr. etutsom uit out cp efif tusi and hcvedi ED-CS vlri sadrtan on one of the idnulsi.

AWEYAK

eeh nmpmeesvro tuldse in the tinnsex of and era acneer in nse to sixitg esnna and the eae up of uh of the et of the repyro to ptliue nasen, lincdug 130,000 ueqa te to easerh in ntio. iytlmtea, easehr in tnio uchrads the niet eporry grttiu to ceeo its U.S. de-rastue.

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