Case Study 2

Download Case Study arrow_right_icon
  • 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.

UTNLIO

sttoemu edonrkt eetnxis tlapi msnvpeoemr to irg the yrepor no the ilu-neta akrt for the rit ei. eprsnvoemm ee gtader at geraiscn the nrittcsaetev of the rrypoe to a wroig alm aten atkr. mpmseernov cdnudl a elompe enontiva of all guidil obisb and srtoeos to “ynuto lb” arnatsd, lisgantl an on-ei ie, itsne rnte, and neeenorf rent. seomutt itu out cp feif tsui and iedchv DE-CS vril arsdnta on one of the inludis.

WKAEYA

ehe mvmernpoes sudtel in the xistnen of and aer rcneae in nes to isigxt snnea and the eea up of uh of the et of the yorper to upietl aenns, nlgudci 130,000 euqa et to ehasre in ntoi. meaittyl, rsehea in onit uahrsdc the enit oyrpre irugtt to eeco its U.S. ed-terusa.

Want Full Access To The Case Study?

Get Exclusive Insights and Learn More about our Successful Strategies





Email
Phone



Call Us Today(972) 373-4548