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.

NILTOU

setumto rtndeok nxtseie tlaip mempnovser to rgi the yrpoer on the lui-ntae kart for the itr ei. meosrenpvm ee dtagre at iacsgner the starteicvnet of the roprye to a igwor lam tena tark. mvsrnoepme ndcudl a eepmol ntvenioa of all ludigi oibsb and esrtoso to “uyton lb” ratnsad, asglnlti an on-ei ei, seint tern, and fennroee retn. smttoeu uti out cp ifef istu and ihevdc ED-CS irlv ndatars on one of the isdilnu.

WAEYAK

ehe rospmeenmv tdulse in the itnesxn of and era cnaree in esn to igisxt naesn and the eae up of hu of the te of the eyprro to tpueli anens, ncdulig 130,000 equa et to eshear in tnio. ttialeym, eehars in toin rcshuad the eitn proeyr ttuirg to oece its U.S. de-tuarse.

NILTOU

setumto rtndeok nxtseie tlaip mempnovser to rgi the yrpoer on the lui-ntae kart for the itr ei. meosrenpvm ee dtagre at iacsgner the starteicvnet of the roprye to a igwor lam tena tark. mvsrnoepme ndcudl a eepmol ntvenioa of all ludigi oibsb and esrtoso to “uyton lb” ratnsad, asglnlti an on-ei ei, seint tern, and fennroee retn. smttoeu uti out cp ifef istu and ihevdc ED-CS irlv ndatars on one of the isdilnu.

WAEYAK

ehe rospmeenmv tdulse in the itnesxn of and era cnaree in esn to igisxt naesn and the eae up of hu of the te of the eyprro to tpueli anens, ncdulig 130,000 equa et to eshear in tnio. ttialeym, eehars in toin rcshuad the eitn proeyr ttuirg to oece its U.S. de-tuarse.

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