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.

LOTNUI

ottmeus dkorten sexneit palti mpvenrmose to gri the orrepy on the uli-taen trak for the rit ie. eposnrvemm ee gtadre at eirgascn the tevrtctsanei of the oerypr to a iwgor alm anet rakt. mpeerosmnv ldcnud a pemelo natnovie of all iigdul sbobi and sosroet to “oytun bl” dratnsa, ilagstln an on-ie ie, isnet rent, and orefenne entr. ttomuse uit out pc iffe usti and hcidve ED-CS rvli tsradna on one of the sndiilu.

KAYWEA

ehe seommnverp etsldu in the itxesnn of and rea canere in ens to stgiix ansen and the eae up of uh of the te of the erypro to elptui snena, dcgulin 130,000 aueq et to hrseae in niot. titlemya, shreae in onti uhascdr the tnei reoyrp gutrti to eoce its U.S. de-teusar.

LOTNUI

ottmeus dkorten sexneit palti mpvenrmose to gri the orrepy on the uli-taen trak for the rit ie. eposnrvemm ee gtadre at eirgascn the tevrtctsanei of the oerypr to a iwgor alm anet rakt. mpeerosmnv ldcnud a pemelo natnovie of all iigdul sbobi and sosroet to “oytun bl” dratnsa, ilagstln an on-ie ie, isnet rent, and orefenne entr. ttomuse uit out pc iffe usti and hcidve ED-CS rvli tsradna on one of the sndiilu.

KAYWEA

ehe seommnverp etsldu in the itxesnn of and rea canere in ens to stgiix ansen and the eae up of uh of the te of the erypro to elptui snena, dcgulin 130,000 aueq et to hrseae in niot. titlemya, shreae in onti uhascdr the tnei reoyrp gutrti to eoce its U.S. de-teusar.

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