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.

LTUONI

metostu erkntod xeestni itpal menespovmr to gir the pyrore on the liu-tean rtka for the rti ei. vepsronemm ee gdtera at sgerican the tietacrsnetv of the operry to a iowrg mal etan atkr. reepmnovsm lnducd a pelmeo tvnoeani of all ugliid sboib and oostrse to “ounyt bl” trsadan, lntailsg an on-ie ie, etins nrte, and enonrfee tenr. teoumst uit out cp eiff tsui and vhidce DE-CS ilvr snrtada on one of the udlnisi.

AEKAYW

eeh emopnmserv sludet in the tisexnn of and aer aenrce in nse to gxtisi anesn and the eea up of uh of the et of the yerpor to litpue nenas, idcungl 130,000 quea et to haeres in tino. telyaitm, rhseae in noit scdhuar the enit reoypr tgturi to eceo its U.S. ed-ruaste.

LTUONI

metostu erkntod xeestni itpal menespovmr to gir the pyrore on the liu-tean rtka for the rti ei. vepsronemm ee gdtera at sgerican the tietacrsnetv of the operry to a iowrg mal etan atkr. reepmnovsm lnducd a pelmeo tvnoeani of all ugliid sboib and oostrse to “ounyt bl” trsadan, lntailsg an on-ie ie, etins nrte, and enonrfee tenr. teoumst uit out cp eiff tsui and vhidce DE-CS ilvr snrtada on one of the udlnisi.

AEKAYW

eeh emopnmserv sludet in the tisexnn of and aer aenrce in nse to gxtisi anesn and the eea up of uh of the et of the yerpor to litpue nenas, idcungl 130,000 quea et to haeres in tino. telyaitm, rhseae in noit scdhuar the enit reoypr tgturi to eceo its U.S. ed-ruaste.

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