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.

NTUIOL

oemustt ekntrod stenexi pliat eemopnmsvr to irg the oerpry on the iul-atne krta for the tri ei. onpreesvmm ee eagdtr at niceagsr the cttvisaeetrn of the erropy to a gorwi lma enat katr. pmnsveoerm cdndul a pomele vneiatno of all giilud sboib and tsroeos to “utony lb” dnsatar, agitllns an on-ei ei, etsin trne, and nfoeerne tner. sutmteo uit out cp fief suti and cevdih DE-CS vrli adantsr on one of the liunsdi.

KAAWEY

eeh monmrspvee stuled in the einsxtn of and era caener in nse to xiitgs neans and the eea up of uh of the te of the rpyero to puteli nsaen, ilduncg 130,000 euqa te to heeasr in iotn. mtatyeil, esehar in tion sudrach the eint poyerr rtitgu to oeec its U.S. de-ruetas.

NTUIOL

oemustt ekntrod stenexi pliat eemopnmsvr to irg the oerpry on the iul-atne krta for the tri ei. onpreesvmm ee eagdtr at niceagsr the cttvisaeetrn of the erropy to a gorwi lma enat katr. pmnsveoerm cdndul a pomele vneiatno of all giilud sboib and tsroeos to “utony lb” dnsatar, agitllns an on-ei ei, etsin trne, and nfoeerne tner. sutmteo uit out cp fief suti and cevdih DE-CS vrli adantsr on one of the liunsdi.

KAAWEY

eeh monmrspvee stuled in the einsxtn of and era caener in nse to xiitgs neans and the eea up of uh of the te of the rpyero to puteli nsaen, ilduncg 130,000 euqa te to heeasr in iotn. mtatyeil, esehar in tion sudrach the eint poyerr rtitgu to oeec its U.S. de-ruetas.

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