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.

TUNOLI

osetmtu torenkd ntesxie tplia seonmvremp to igr the preyro on the ilu-eatn rakt for the irt ie. oevenpmrms ee adgtre at asiegcnr the tsitarnecvet of the peyorr to a wrgio mal neta krat. pnmsevmore cnddlu a meeopl einntaov of all lidgiu obisb and srosoet to “ontyu bl” ndrstaa, iastlnlg an on-ie ie, nseti etnr, and eonfeern etnr. eusttom uti out cp iffe tius and vdehci DE-CS lrvi asndtra on one of the diiulns.

WKAAEY

eeh mspvmnoeer tedsul in the tsixnne of and are ancere in ens to sigixt nasen and the aee up of hu of the te of the eopryr to ielput esnna, inucdlg 130,000 quae te to sheera in tino. ittymael, aserhe in noit dsaruhc the tein orrpey itgtru to ecoe its U.S. de-tasuer.

TUNOLI

osetmtu torenkd ntesxie tplia seonmvremp to igr the preyro on the ilu-eatn rakt for the irt ie. oevenpmrms ee adgtre at asiegcnr the tsitarnecvet of the peyorr to a wrgio mal neta krat. pnmsevmore cnddlu a meeopl einntaov of all lidgiu obisb and srosoet to “ontyu bl” ndrstaa, iastlnlg an on-ie ie, nseti etnr, and eonfeern etnr. eusttom uti out cp iffe tius and vdehci DE-CS lrvi asndtra on one of the diiulns.

WKAAEY

eeh mspvmnoeer tedsul in the tsixnne of and are ancere in ens to sigixt nasen and the aee up of hu of the te of the eopryr to ielput esnna, inucdlg 130,000 quae te to sheera in tino. ittymael, aserhe in noit dsaruhc the tein orrpey itgtru to ecoe its U.S. de-tasuer.

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