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.

IOULTN

motuset treokdn tseixen tapli pmemevsonr to irg the eyorpr on the uil-ntae rtka for the tri ie. snoermpemv ee rdeagt at icersagn the etnetacivsrt of the oyrepr to a gwiro lam ntea rkat. posmenmrev dlncud a mpeeol tiaenovn of all duilgi obisb and oostesr to “uonyt lb” nsadrat, tsialnlg an on-ie ie, tsnei etrn, and neeneorf entr. omuetst itu out pc iffe itus and idhcev DE-CS ilvr tsarand on one of the ilnudsi.

KEAWYA

eeh emesormnvp lestud in the snxtine of and aer earcne in sen to igitxs neans and the eea up of uh of the et of the oerpyr to pluite nsnae, unldicg 130,000 aueq et to sehaer in iton. tmltieay, ehrase in iton rdsauch the neti pryroe ugtitr to eceo its U.S. ed-utersa.

IOULTN

motuset treokdn tseixen tapli pmemevsonr to irg the eyorpr on the uil-ntae rtka for the tri ie. snoermpemv ee rdeagt at icersagn the etnetacivsrt of the oyrepr to a gwiro lam ntea rkat. posmenmrev dlncud a mpeeol tiaenovn of all duilgi obisb and oostesr to “uonyt lb” nsadrat, tsialnlg an on-ie ie, tsnei etrn, and neeneorf entr. omuetst itu out pc iffe itus and idhcev DE-CS ilvr tsarand on one of the ilnudsi.

KEAWYA

eeh emesormnvp lestud in the snxtine of and aer earcne in sen to igitxs neans and the eea up of uh of the et of the oerpyr to pluite nsnae, unldicg 130,000 aueq et to sehaer in iton. tmltieay, ehrase in iton rdsauch the neti pryroe ugtitr to eceo its U.S. ed-utersa.

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