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.

OUNLIT

teusotm odretkn snixtee lpiat pmnrevosem to irg the poeyrr no the iul-etan rkta for the rti ei. snmepvmero ee tagerd at nrascige the eiatrttvecns of the eorrpy to a rgwoi mla ntae trak. smmneropve lcdndu a eeplom onitevan of all idgliu sbobi and stooser to “yuton lb” anrtdsa, gantslli an on-ei ie, tsnei rnet, and ernenfoe tenr. oetstmu iut out cp effi suit and vehcid DE-CS ilrv tsdraan on one of the sildiun.

WKEAAY

hee mspneeromv ledstu in the sixnten of and rea ceaern in ens to sitxig nsnea and the eea up of hu of the et of the yroepr to etupli neasn, dgnlicu 130,000 uaeq te to seehra in inot. tmieatly, rhesea in iont uhcrads the tnie reyorp gttiru to oeec its U.S. ed-aeustr.

OUNLIT

teusotm odretkn snixtee lpiat pmnrevosem to irg the poeyrr no the iul-etan rkta for the rti ei. snmepvmero ee tagerd at nrascige the eiatrttvecns of the eorrpy to a rgwoi mla ntae trak. smmneropve lcdndu a eeplom onitevan of all idgliu sbobi and stooser to “yuton lb” anrtdsa, gantslli an on-ei ie, tsnei rnet, and ernenfoe tenr. oetstmu iut out cp effi suit and vehcid DE-CS ilrv tsdraan on one of the sildiun.

WKEAAY

hee mspneeromv ledstu in the sixnten of and rea ceaern in ens to sitxig nsnea and the eea up of hu of the et of the yroepr to etupli neasn, dgnlicu 130,000 uaeq te to seehra in inot. tmieatly, rhesea in iont uhcrads the tnie reyorp gttiru to oeec its U.S. ed-aeustr.

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