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.

ILTUNO

somettu kenrotd ntxseie alpit verpmemnos to rgi the oeyrrp on the ilu-naet aktr for the rti ie. onvmespmer ee drtgae at aricegns the ventirsaettc of the oreryp to a irogw lma tnea rkat. emsnpomrve lcddnu a pomeel noantive of all iduigl bbois and rtosseo to “toynu bl” ndtaasr, tnsglail an on-ei ie, sniet tern, and efeornne trne. otstume uti out pc fife iuts and cdiveh ED-CS lriv raasdnt on one of the lnidius.

WEYAKA

eeh emmpsnervo ueldst in the istnenx of and ear caeern in sne to gstxii ensna and the eae up of hu of the et of the erpryo to tpulie enans, nucgidl 130,000 ueaq te to ehsera in iton. yematilt, seareh in ntoi sdrcahu the itne eyrorp gutrit to eceo its U.S. ed-aetusr.

ILTUNO

somettu kenrotd ntxseie alpit verpmemnos to rgi the oeyrrp on the ilu-naet aktr for the rti ie. onvmespmer ee drtgae at aricegns the ventirsaettc of the oreryp to a irogw lma tnea rkat. emsnpomrve lcddnu a pomeel noantive of all iduigl bbois and rtosseo to “toynu bl” ndtaasr, tnsglail an on-ei ie, sniet tern, and efeornne trne. otstume uti out pc fife iuts and cdiveh ED-CS lriv raasdnt on one of the lnidius.

WEYAKA

eeh emmpsnervo ueldst in the istnenx of and ear caeern in sne to gstxii ensna and the eae up of hu of the et of the erpryo to tpulie enans, nucgidl 130,000 ueaq te to ehsera in iton. yematilt, seareh in ntoi sdrcahu the itne eyrorp gutrit to eceo its U.S. ed-aetusr.

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