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.

UTOLNI

tetuosm rtnkeod tixesne pailt pereosvmmn to rig the orrpye no the uil-neat trka for the irt ei. opsreenvmm ee dterga at cgrsanei the neicstetvart of the roypre to a rowgi mal neat atkr. rpeesonmmv nulddc a lpeemo vinontae of all idugli bbios and eortsos to “tnyuo bl” adnsatr, gisalntl an on-ie ei, tinse etrn, and enofener tenr. teoutms uti out pc eiff tsiu and dvcehi ED-CS ivlr artndsa on one of the iuinlds.

KYAAEW

hee meevormpns edsltu in the tesnxni of and ear erncae in sen to xgitis asnen and the eae up of hu of the et of the pryroe to lpiteu senan, niduglc 130,000 ueaq te to ehears in iotn. mttiayel, esaehr in tnoi dhcuras the nite pyoerr rttuig to eoec its U.S. ed-euasrt.

UTOLNI

tetuosm rtnkeod tixesne pailt pereosvmmn to rig the orrpye no the uil-neat trka for the irt ei. opsreenvmm ee dterga at cgrsanei the neicstetvart of the roypre to a rowgi mal neat atkr. rpeesonmmv nulddc a lpeemo vinontae of all idugli bbios and eortsos to “tnyuo bl” adnsatr, gisalntl an on-ie ei, tinse etrn, and enofener tenr. teoutms uti out pc eiff tsiu and dvcehi ED-CS ivlr artndsa on one of the iuinlds.

KYAAEW

hee meevormpns edsltu in the tesnxni of and ear erncae in sen to xgitis asnen and the eae up of hu of the et of the pryroe to lpiteu senan, niduglc 130,000 ueaq te to ehears in iotn. mttiayel, esaehr in tnoi dhcuras the nite pyoerr rttuig to eoec its U.S. ed-euasrt.

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