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.

IOLUNT

uttmoes nerkdot sxeenit aitlp smpemevonr to rig the reypor no the liu-atne atrk for the irt ei. preovmmsne ee adrteg at craesnig the tttscereanvi of the epyror to a ogwri lma aetn artk. seoneprvmm ucddln a eplmoe vanitneo of all dliiug soibb and rotseos to “ontuy bl” adsnatr, lgtnalis an on-ie ie, estin ertn, and enrfneoe ernt. oesmttu tui out pc eiff tusi and vdhiec DE-CS rilv rnsaatd on one of the lsndiui.

EWAAYK

hee norpemsvem eusldt in the ntxsnei of and rae aeecrn in sne to gtxsii nsnea and the eea up of hu of the et of the orprey to upleti neans, guildcn 130,000 qaue te to aeerhs in iont. yetaltmi, raeshe in tnoi ucdhars the ntei oyrrep itgtur to ceoe its U.S. ed-tearsu.

IOLUNT

uttmoes nerkdot sxeenit aitlp smpemevonr to rig the reypor no the liu-atne atrk for the irt ei. preovmmsne ee adrteg at craesnig the tttscereanvi of the epyror to a ogwri lma aetn artk. seoneprvmm ucddln a eplmoe vanitneo of all dliiug soibb and rotseos to “ontuy bl” adsnatr, lgtnalis an on-ie ie, estin ertn, and enrfneoe ernt. oesmttu tui out pc eiff tusi and vdhiec DE-CS rilv rnsaatd on one of the lsndiui.

EWAAYK

hee norpemsvem eusldt in the ntxsnei of and rae aeecrn in sne to gtxsii nsnea and the eea up of hu of the et of the orprey to upleti neans, guildcn 130,000 qaue te to aeerhs in iont. yetaltmi, raeshe in tnoi ucdhars the ntei oyrrep itgtur to ceoe its U.S. ed-tearsu.

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