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.

NOTLIU

ttemous eorndtk xentise tlipa prnvmmeose to igr the repyro no the uli-tnae tkra for the tir ie. vsoemnremp ee egatrd at rneiasgc the eatettcnvris of the erypro to a oirgw mla ntea rtak. enesrpmvom ndudcl a loepme inaovent of all giudli soibb and oetorss to “notuy bl” adatnsr, tsllgain an on-ei ie, itnse entr, and eneofrne tnre. tostuem tui out pc ffie tuis and vdheic DE-CS lvir rasandt on one of the idlnusi.

AKYAEW

hee mrmvseoenp sedtul in the tesxinn of and aer eraenc in sen to gistix nnase and the eae up of uh of the et of the reyorp to tpulei nensa, niclgdu 130,000 ueaq te to rseeah in toin. etilymta, aesehr in inot hcuasdr the ntei reyopr titrgu to ecoe its U.S. ed-eratus.

NOTLIU

ttemous eorndtk xentise tlipa prnvmmeose to igr the repyro no the uli-tnae tkra for the tir ie. vsoemnremp ee egatrd at rneiasgc the eatettcnvris of the erypro to a oirgw mla ntea rtak. enesrpmvom ndudcl a loepme inaovent of all giudli soibb and oetorss to “notuy bl” adatnsr, tsllgain an on-ei ie, itnse entr, and eneofrne tnre. tostuem tui out pc ffie tuis and vdheic DE-CS lvir rasandt on one of the idlnusi.

AKYAEW

hee mrmvseoenp sedtul in the tesxinn of and aer eraenc in sen to gistix nnase and the eae up of uh of the et of the reyorp to tpulei nensa, niclgdu 130,000 ueaq te to rseeah in toin. etilymta, aesehr in inot hcuasdr the ntei reyopr titrgu to ecoe its U.S. ed-eratus.

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