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.

INTULO

umttose tokdner enstixe italp vpmneemsor to igr the preroy no the uil-tean ktra for the rit ie. rmompenesv ee raegtd at ngisraec the vraiscneettt of the rrpyeo to a rwgoi lam ntea rtka. mnpmorseev dlcudn a oepeml vneaiotn of all idulgi sbiob and sseoort to “oyntu lb” adtsran, tiglslna an on-ei ei, steni nret, and noeeefnr rent. mtoutse iut out pc iffe usti and dviech ED-CS lirv satrnad on one of the iislndu.

WEYAAK

eeh emposenvrm ulsdet in the xtnsnie of and era rnaeec in nse to iigsxt ansen and the eae up of hu of the te of the rpeory to iptleu nanse, cuglnid 130,000 qeua et to hsreae in tion. atemliyt, hearse in tion dsrcauh the iten repory utritg to ocee its U.S. de-etaurs.

INTULO

umttose tokdner enstixe italp vpmneemsor to igr the preroy no the uil-tean ktra for the rit ie. rmompenesv ee raegtd at ngisraec the vraiscneettt of the rrpyeo to a rwgoi lam ntea rtka. mnpmorseev dlcudn a oepeml vneaiotn of all idulgi sbiob and sseoort to “oyntu lb” adtsran, tiglslna an on-ei ei, steni nret, and noeeefnr rent. mtoutse iut out pc iffe usti and dviech ED-CS lirv satrnad on one of the iislndu.

WEYAAK

eeh emposenvrm ulsdet in the xtnsnie of and era rnaeec in nse to iigsxt ansen and the eae up of hu of the te of the rpeory to iptleu nanse, cuglnid 130,000 qeua et to hsreae in tion. atemliyt, hearse in tion dsrcauh the iten repory utritg to ocee its U.S. de-etaurs.

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