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.

INOLTU

eosmutt rdektno exntsie aiptl peomvsmnre to rgi the pyroer on the uli-tnea tark for the rit ie. nrovemsemp ee edrgat at rcagiesn the ncaesevrittt of the yrrope to a rigwo lam etna kart. semorempvn ludncd a loepme eotnianv of all idgliu sbiob and erotoss to “tnuyo bl” adstrna, gsalilnt an on-ie ei, stien rtne, and noefrnee tnre. eotutms uit out cp fefi tisu and chvide DE-CS lirv aanrtsd on one of the iilsdun.

YAWKAE

ehe psneomevmr edsltu in the ennsixt of and aer earecn in nes to tgisxi ensna and the eae up of hu of the et of the oerpry to etilpu enasn, dgnucli 130,000 qeua et to rshaee in oint. mtyaleti, raeseh in itno hudascr the niet yrpeor ugirtt to eeco its U.S. de-eastru.

INOLTU

eosmutt rdektno exntsie aiptl peomvsmnre to rgi the pyroer on the uli-tnea tark for the rit ie. nrovemsemp ee edrgat at rcagiesn the ncaesevrittt of the yrrope to a rigwo lam etna kart. semorempvn ludncd a loepme eotnianv of all idgliu sbiob and erotoss to “tnuyo bl” adstrna, gsalilnt an on-ie ei, stien rtne, and noefrnee tnre. eotutms uit out cp fefi tisu and chvide DE-CS lirv aanrtsd on one of the iilsdun.

YAWKAE

ehe psneomevmr edsltu in the ennsixt of and aer earecn in nes to tgisxi ensna and the eae up of hu of the et of the oerpry to etilpu enasn, dgnucli 130,000 qeua et to rshaee in oint. mtyaleti, raeseh in itno hudascr the niet yrpeor ugirtt to eeco its U.S. de-eastru.

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