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.

LUINOT

stomuet toknrde xineset lpiat ermpvnemso to igr the eryrpo no the lui-tnae rakt for the tir ie. mnrspmoeev ee retgda at enairgsc the srntietvacte of the rorype to a wiogr mla ante ktra. vnmmpseore udcdln a epoelm aitvenon of all igliud bibos and etsroos to “yuotn lb” sdtarna, sngliatl an on-ei ie, iesnt nrte, and reneonfe ernt. tmseuto itu out cp fefi uist and hdveci ED-CS ilvr dstrana on one of the isnludi.

EAWAKY

eeh sorpvmneem uldset in the nniesxt of and rea earnce in nse to ixgtsi snaen and the aee up of uh of the et of the ryproe to elputi nanse, uclgndi 130,000 auqe te to seaehr in noti. letymiat, resahe in noit chdrasu the teni yeropr itutrg to eoec its U.S. de-tesuar.

LUINOT

stomuet toknrde xineset lpiat ermpvnemso to igr the eryrpo no the lui-tnae rakt for the tir ie. mnrspmoeev ee retgda at enairgsc the srntietvacte of the rorype to a wiogr mla ante ktra. vnmmpseore udcdln a epoelm aitvenon of all igliud bibos and etsroos to “yuotn lb” sdtarna, sngliatl an on-ei ie, iesnt nrte, and reneonfe ernt. tmseuto itu out cp fefi uist and hdveci ED-CS ilvr dstrana on one of the isnludi.

EAWAKY

eeh sorpvmneem uldset in the nniesxt of and rea earnce in nse to ixgtsi snaen and the aee up of uh of the et of the ryproe to elputi nanse, uclgndi 130,000 auqe te to seaehr in noti. letymiat, resahe in noit chdrasu the teni yeropr itutrg to eoec its U.S. de-tesuar.

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