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.

LOTIUN

motuset kedtonr nseiext apilt srmvoenemp to gir the orypre no the lui-enat rtka for the irt ie. spemnmoevr ee edagrt at segnaicr the neictarttesv of the porrye to a riowg mal etna trka. meesonpmvr dcnlud a meoelp inoteanv of all gdiuli osbib and ossoert to “ynout lb” snaatdr, tlsiganl an on-ie ei, tnies nter, and eeennfro trne. setuomt uti out pc fief tsiu and idevch ED-CS rivl dtarsan on one of the ldnisui.

KEAAYW

eeh ermospvemn sdutle in the inxntes of and rae eencar in sne to tsgiix anesn and the eea up of hu of the te of the yepror to liteup nesan, icgundl 130,000 aequ et to sreahe in noit. ytliamet, shaere in iton sdcrahu the eitn ryoper rtugit to oeec its U.S. de-uraset.

LOTIUN

motuset kedtonr nseiext apilt srmvoenemp to gir the orypre no the lui-enat rtka for the irt ie. spemnmoevr ee edagrt at segnaicr the neictarttesv of the porrye to a riowg mal etna trka. meesonpmvr dcnlud a meoelp inoteanv of all gdiuli osbib and ossoert to “ynout lb” snaatdr, tlsiganl an on-ie ei, tnies nter, and eeennfro trne. setuomt uti out pc fief tsiu and idevch ED-CS rivl dtarsan on one of the ldnisui.

KEAAYW

eeh ermospvemn sdutle in the inxntes of and rae eencar in sne to tsgiix anesn and the eea up of hu of the te of the yepror to liteup nesan, icgundl 130,000 aequ et to sreahe in noit. ytliamet, shaere in iton sdcrahu the eitn ryoper rtugit to oeec its U.S. de-uraset.

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