Case Study 3

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  • 2011

    ACQUISITION YEAR

  • 1

    YEARS HELD

  • 246K

    TOTAL SQUARE FOOTAGE

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.

OTINUL

smuotet nekrdot sxeniet talpi oespermnmv to rig the yperor on the lui-neta trak for the rti ie. enosrvepmm ee agtder at rsgaeinc the enicvtarsett of the yerpro to a wirog lma ntae tkra. eromvmpnse lucdnd a eolpme eontavin of all dluiig osbib and sreoost to “uonty bl” sadnrat, iltansgl an on-ei ie, ntsie rtne, and norefnee nert. uosemtt itu out pc fife tsui and dvehci DE-CS rvli sanadtr on one of the iundils.

WKYAAE

hee rvonmepsme esludt in the exsntni of and aer caeern in sne to gsxtii asnen and the eae up of uh of the te of the reyopr to uitlep nanse, lncuidg 130,000 ueqa te to haeser in tino. elatyimt, aeshre in tnio uhscard the neti oerypr iuttgr to ocee its U.S. ed-usaetr.

OTINUL

smuotet nekrdot sxeniet talpi oespermnmv to rig the yperor on the lui-neta trak for the rti ie. enosrvepmm ee agtder at rsgaeinc the enicvtarsett of the yerpro to a wirog lma ntae tkra. eromvmpnse lucdnd a eolpme eontavin of all dluiig osbib and sreoost to “uonty bl” sadnrat, iltansgl an on-ei ie, ntsie rtne, and norefnee nert. uosemtt itu out pc fife tsui and dvehci DE-CS rvli sanadtr on one of the iundils.

WKYAAE

hee rvonmepsme esludt in the exsntni of and aer caeern in sne to gsxtii asnen and the eae up of uh of the te of the reyopr to uitlep nanse, lncuidg 130,000 ueqa te to haeser in tino. elatyimt, aeshre in tnio uhscard the neti oerypr iuttgr to ocee its U.S. ed-usaetr.

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