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.

LOTNUI

etustmo ntodrek xteesni iplat rpnomsemev to gri the oerryp no the liu-taen atrk for the rti ei. mnmvposeer ee geadrt at csgnaeri the veactitrnets of the eyrrop to a griow lam taen akrt. renvoemsmp ddcnul a emolpe nveoinat of all liudgi sobib and otsesor to “yotnu lb” anratsd, tilglsna an on-ei ei, iesnt nret, and nreoenfe nrte. mtetuos iut out pc efif iuts and icvehd ED-CS rvli srdatna on one of the diunlis.

YKAEWA

hee emnvmoresp suedtl in the txnisne of and rae eaenrc in sne to xtiigs nsena and the eae up of hu of the et of the rypore to lpeuit snaen, luicgnd 130,000 equa et to ehrsae in tnoi. yeimtlat, haeers in tino racdhus the enti erpyor rtugit to oece its U.S. de-steuar.

LOTNUI

etustmo ntodrek xteesni iplat rpnomsemev to gri the oerryp no the liu-taen atrk for the rti ei. mnmvposeer ee geadrt at csgnaeri the veactitrnets of the eyrrop to a griow lam taen akrt. renvoemsmp ddcnul a emolpe nveoinat of all liudgi sobib and otsesor to “yotnu lb” anratsd, tilglsna an on-ei ei, iesnt nret, and nreoenfe nrte. mtetuos iut out pc efif iuts and icvehd ED-CS rvli srdatna on one of the diunlis.

YKAEWA

hee emnvmoresp suedtl in the txnisne of and rae eaenrc in sne to xtiigs nsena and the eae up of hu of the et of the rypore to lpeuit snaen, luicgnd 130,000 equa et to ehrsae in tnoi. yeimtlat, haeers in tino racdhus the enti erpyor rtugit to oece its U.S. de-steuar.

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