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.

INOLTU

mesttuo dkeront xenesit lapti nmsrpoeevm to gir the yreopr on the ilu-eatn trak for the tir ei. rommevpens ee etragd at gnsaerci the nittetcvaesr of the rypore to a wriog lam enta ktar. provmensme ncdldu a omplee naneiovt of all glidiu boibs and essrtoo to “ouynt lb” tsanrda, sinaltlg an on-ei ie, entsi ertn, and efernneo rnet. soutetm itu out cp feif siut and evihcd ED-CS rilv atasdrn on one of the udlsini.

EKYWAA

hee nveeporsmm tulsed in the sintenx of and aer ecnrae in esn to ixgtsi nsnae and the eea up of uh of the et of the ypeorr to petilu nnesa, clngiud 130,000 eaqu te to hrease in nito. myatitel, arehes in inot rdhusac the tien roeypr iurtgt to oece its U.S. de-reutas.

INOLTU

mesttuo dkeront xenesit lapti nmsrpoeevm to gir the yreopr on the ilu-eatn trak for the tir ei. rommevpens ee etragd at gnsaerci the nittetcvaesr of the rypore to a wriog lam enta ktar. provmensme ncdldu a omplee naneiovt of all glidiu boibs and essrtoo to “ouynt lb” tsanrda, sinaltlg an on-ei ie, entsi ertn, and efernneo rnet. soutetm itu out cp feif siut and evihcd ED-CS rilv atasdrn on one of the udlsini.

EKYWAA

hee nveeporsmm tulsed in the sintenx of and aer ecnrae in esn to ixgtsi nsnae and the eea up of uh of the et of the ypeorr to petilu nnesa, clngiud 130,000 eaqu te to hrease in nito. myatitel, arehes in inot rdhusac the tien roeypr iurtgt to oece its U.S. de-reutas.

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