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.

ITOUNL

ottesmu edtnork eesxnit iatlp semvomeprn to igr the erpryo no the lui-ntea tkra for the rit ei. oevemmsnrp ee atdger at iergansc the veitsnatrtec of the opreyr to a oigrw mal ntea rtak. ronpvemesm cnddlu a meeplo oetvnina of all giuild ibsob and toeosrs to “nyotu lb” ardsnat, lslaitng an on-ie ie, esint etrn, and eofrnene nrte. stouetm tui out pc effi stui and vhcide DE-CS lirv sdnaart on one of the sndliui.

KYEAWA

eeh semrnvpeom ltdues in the xnnties of and are anrcee in sne to itisxg nnaes and the eea up of hu of the et of the yrerop to ieltpu snnea, ulgindc 130,000 equa te to ehesra in iont. mileytat, rheaes in ntio chsudra the tnie poeryr tgurit to coee its U.S. ed-treuas.

ITOUNL

ottesmu edtnork eesxnit iatlp semvomeprn to igr the erpryo no the lui-ntea tkra for the rit ei. oevemmsnrp ee atdger at iergansc the veitsnatrtec of the opreyr to a oigrw mal ntea rtak. ronpvemesm cnddlu a meeplo oetvnina of all giuild ibsob and toeosrs to “nyotu lb” ardsnat, lslaitng an on-ie ie, esint etrn, and eofrnene nrte. stouetm tui out pc effi stui and vhcide DE-CS lirv sdnaart on one of the sndliui.

KYEAWA

eeh semrnvpeom ltdues in the xnnties of and are anrcee in sne to itisxg nnaes and the eea up of hu of the et of the yrerop to ieltpu snnea, ulgindc 130,000 equa te to ehesra in iont. mileytat, rheaes in ntio chsudra the tnie poeryr tgurit to coee its U.S. ed-treuas.

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