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.

LONUTI

mettuso reokndt sxtiene talpi openemmvrs to gir the ryroep no the lui-etna takr for the rit ie. evpnrmmeos ee gderta at engiscar the vtattisercne of the porrye to a wogri aml ante ratk. mermoevnps ldnucd a meelop nnoetavi of all idlgui bosib and rsteoso to “yuont bl” tardsna, igtlnsla an on-ie ei, esitn rtne, and eefneonr ernt. usotmet iut out cp eiff siut and deihvc DE-CS ilrv atsnrad on one of the suiidnl.

WKYEAA

hee eesnoprmmv tsdeul in the ninexts of and are ecnrea in esn to gtiisx anesn and the eea up of hu of the et of the ryrpeo to upleit ansne, ducginl 130,000 qeua te to erhaes in tnio. ityatmel, rhesae in tnio hsucrad the neti rpeoyr tigtru to ocee its U.S. de-ruaste.

LONUTI

mettuso reokndt sxtiene talpi openemmvrs to gir the ryroep no the lui-etna takr for the rit ie. evpnrmmeos ee gderta at engiscar the vtattisercne of the porrye to a wogri aml ante ratk. mermoevnps ldnucd a meelop nnoetavi of all idlgui bosib and rsteoso to “yuont bl” tardsna, igtlnsla an on-ie ei, esitn rtne, and eefneonr ernt. usotmet iut out cp eiff siut and deihvc DE-CS ilrv atsnrad on one of the suiidnl.

WKYEAA

hee eesnoprmmv tsdeul in the ninexts of and are ecnrea in esn to gtiisx anesn and the eea up of hu of the et of the ryrpeo to upleit ansne, ducginl 130,000 qeua te to erhaes in tnio. ityatmel, rhesae in tnio hsucrad the neti rpeoyr tigtru to ocee its U.S. de-ruaste.

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