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.

INLTOU

sotmuet tknored seetnxi atilp mmrpoenves to gri the rrpyeo on the ilu-atne ktra for the tri ie. smvoeernmp ee rtgdae at giancsre the tnietvcreast of the oyerrp to a rwoig aml tnae krat. msnemorvep cudndl a mpeelo ioetnavn of all glduii bsbio and erstoos to “ytuno bl” atrnsda, sialntlg an on-ie ei, itsne netr, and fnereone entr. stteumo itu out cp ffei stui and ecdivh ED-CS lirv asrdnta on one of the isdunli.

YWKEAA

eeh orvsenmmep eltsud in the nstxine of and rea cerean in sne to tgisix snane and the eea up of uh of the et of the ryproe to tupeli neasn, dginluc 130,000 uqea te to arsehe in ntoi. mityltea, heesra in noit cudrhas the neti epryor ttruig to eceo its U.S. ed-rasuet.

INLTOU

sotmuet tknored seetnxi atilp mmrpoenves to gri the rrpyeo on the ilu-atne ktra for the tri ie. smvoeernmp ee rtgdae at giancsre the tnietvcreast of the oyerrp to a rwoig aml tnae krat. msnemorvep cudndl a mpeelo ioetnavn of all glduii bsbio and erstoos to “ytuno bl” atrnsda, sialntlg an on-ie ei, itsne netr, and fnereone entr. stteumo itu out cp ffei stui and ecdivh ED-CS lirv asrdnta on one of the isdunli.

YWKEAA

eeh orvsenmmep eltsud in the nstxine of and rea cerean in sne to tgisix snane and the eea up of uh of the et of the ryproe to tupeli neasn, dginluc 130,000 uqea te to arsehe in ntoi. mityltea, heesra in noit cudrhas the neti epryor ttruig to eceo its U.S. ed-rasuet.

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