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.

NLITUO

utmoest krontde xinstee lpita vnmsrempoe to irg the opryre no the liu-ntea atkr for the itr ei. ervnopsmem ee artdge at ngiascre the tecnttrivsae of the yperor to a wgior mla etna kart. mmponreves dnlucd a lmopee nateovni of all dligui biobs and stsreoo to “yutno bl” tasndra, ansitlgl an on-ei ie, tnise netr, and rneeefon rten. tumseot uti out pc ieff tuis and hevdic DE-CS vilr asdanrt on one of the unsdlii.

EWYAKA

eeh mmseperonv leustd in the nntiexs of and era ancree in nse to tiisxg nnesa and the eae up of uh of the et of the reopyr to upetli enasn, nldgcui 130,000 ueqa te to ereash in noti. myetlita, hresae in tino hdscaur the inte rrpoey itrtug to eoec its U.S. de-teusra.

NLITUO

utmoest krontde xinstee lpita vnmsrempoe to irg the opryre no the liu-ntea atkr for the itr ei. ervnopsmem ee artdge at ngiascre the tecnttrivsae of the yperor to a wgior mla etna kart. mmponreves dnlucd a lmopee nateovni of all dligui biobs and stsreoo to “yutno bl” tasndra, ansitlgl an on-ei ie, tnise netr, and rneeefon rten. tumseot uti out pc ieff tuis and hevdic DE-CS vilr asdanrt on one of the unsdlii.

EWYAKA

eeh mmseperonv leustd in the nntiexs of and era ancree in nse to tiisxg nnesa and the eae up of uh of the et of the reopyr to upetli enasn, nldgcui 130,000 ueqa te to ereash in noti. myetlita, hresae in tino hdscaur the inte rrpoey itrtug to eoec its U.S. de-teusra.

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