Case Study 1

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  • 2011

    ACQUISITION YEAR

  • 1

    YEARS HELD

  • 246K

    TOTAL SQUARE FOOTAGE

  • 1

    NUMBER OF BUILDINGS

  • 100%

    OCCUPANCY AT SALE

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.

OLNTUI

omettus kerondt tsixeen itpal oeremsmnvp to rig the oreypr on the iul-tnae ratk for the tir ei. normemepvs ee taedgr at gacseinr the isttrecevnta of the pryroe to a iowrg lam taen arkt. voepensmmr udlcdn a loempe antveoin of all lgiuid boisb and rotseos to “uyton bl” ntdasra, iltgnals an on-ei ie, ients nret, and eneneorf trne. etostum itu out cp fife tsui and hedvic DE-CS vlri atardsn on one of the iiusndl.

WKAEYA

ehe osnmrmeepv stdlue in the tenixns of and ear rcenae in esn to xitsgi easnn and the eae up of uh of the et of the rryoep to ileutp senna, dlcigun 130,000 quea te to erhsea in tnoi. iaemtlyt, eaerhs in tion dscrauh the niet peyror tgitru to oece its U.S. ed-uraset.

OLNTUI

omettus kerondt tsixeen itpal oeremsmnvp to rig the oreypr on the iul-tnae ratk for the tir ei. normemepvs ee taedgr at gacseinr the isttrecevnta of the pryroe to a iowrg lam taen arkt. voepensmmr udlcdn a loempe antveoin of all lgiuid boisb and rotseos to “uyton bl” ntdasra, iltgnals an on-ei ie, ients nret, and eneneorf trne. etostum itu out cp fife tsui and hedvic DE-CS vlri atardsn on one of the iiusndl.

WKAEYA

ehe osnmrmeepv stdlue in the tenixns of and ear rcenae in esn to xitsgi easnn and the eae up of uh of the et of the rryoep to ileutp senna, dlcigun 130,000 quea te to erhsea in tnoi. iaemtlyt, eaerhs in tion dscrauh the niet peyror tgitru to oece its U.S. ed-uraset.

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