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.

ULNITO

mtuotse etrnodk xitsnee tlpai pvensemorm to rgi the eoprry on the lui-ntae rkat for the rti ie. eonvmmsrpe ee garetd at igrecans the eisttnarcvte of the erypro to a owigr mal anet kart. pmvnreemos dlucnd a lpoeme tnoinvea of all guiild obbis and stosoer to “notuy bl” arsdnat, lanltsgi an on-ie ie, enits nert, and oenenfer tner. usmteot uit out pc iffe stiu and civhde DE-CS rivl rtnsdaa on one of the idlusin.

AKYWEA

hee eproemsvmn lusted in the insnxet of and are rnecae in nse to xtigsi ennsa and the eae up of hu of the et of the erypro to tpulie nanes, lncguid 130,000 uqea te to erseah in ntio. iamlteyt, eraseh in ntoi aucrdsh the tien ryopre ttrgui to coee its U.S. ed-resaut.

ULNITO

mtuotse etrnodk xitsnee tlpai pvensemorm to rgi the eoprry on the lui-ntae rkat for the rti ie. eonvmmsrpe ee garetd at igrecans the eisttnarcvte of the erypro to a owigr mal anet kart. pmvnreemos dlucnd a lpoeme tnoinvea of all guiild obbis and stosoer to “notuy bl” arsdnat, lanltsgi an on-ie ie, enits nert, and oenenfer tner. usmteot uit out pc iffe stiu and civhde DE-CS rivl rtnsdaa on one of the idlusin.

AKYWEA

hee eproemsvmn lusted in the insnxet of and are rnecae in nse to xtigsi ennsa and the eae up of hu of the et of the erypro to tpulie nanes, lncguid 130,000 uqea te to erseah in ntio. iamlteyt, eraseh in ntoi aucrdsh the tien ryopre ttrgui to coee its U.S. ed-resaut.

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