Western Investor February 2012 Section A by GLACIER MEDIA DIGITAL LIMITED PARTNERSHIP dba BUSINESS IN VANCOUVER

www.naicommercial.ca Commercial Real Estate Services, Worldwide.

SELF-STORAGE FACILITIES â&#x20AC;&#x201C; FOR SALE Vernon, BC

Penticton, BC

s UNITS PARKING s SF RENTABLE s ACRES n TITLES s %XPANSION $EV 0OTENTIAL s BEDROOM APARTMENT ON SITE s %XISTING MANAGEMENT IN PLACE

s UNITS PARKING s SF RENTABLE s !CRES s #OMMERCIAL #OMPONENT s "EDROOM !PARTMENT ON SITE s %XISTING MANAGEMENT IN PLACE

KEN KIERS* or KEN HICK 604-534-7974 1-800-890-9855 kiers@naicommercial.ca

KEN KIERS OR KEN HICK

s 5P TO !CRES 4OTAL s /WNER WILL SUBDIVIDE TO SUIT s /FFERED AS :ONED AND 3ERVICED s 4RUCK 3TOP )NDUSTRIAL #OMMERCIAL s !CCESS ON TO AND OFF OF (WY s &ULL (IGHWAY &RONTAGE s Asking: Contact LIsting Broker KEN KIERS* 604-534-7974 1-800-890-9855 kiers@naicommercial.ca

* Personal Real Estate Corp.

HOT PRICE s 5NIT 4OWNHOUSE 3ITE s !C 2 - & ZONING s 3ERVICES AT STREET s Asking $699,000

Abbotsford 5 million liters yearly sales

FOR LEASE 8,459 SQ. FT. SHOWROOM & W/H s $5.50 s.f. plus $2.50 s.f. T.N.

Trailer Park

HALF ACRE SERVICE COMMERCIAL LOT s Close to Wal-Mart. Only $159K

Prince George - $1.9 million Warehouse Port Kells Lease / Sale 8000 to 50,000 sq. ft. Call.

New franchise operations for Restaurant and Retail Stores, Merritt BC

MINI STORAGE ON 1 ACRE PARCEL

FOR SALE â&#x20AC;&#x201C; RV SITE WITH BUSINESS

SPLIT ZONING

s UNIT 3ELF 3TORAGE &ACILITY s 2OOM TO EXPAND BY ACQUIRING ADJACENT ACRE SITE

s !C $EVELOPMENT 3ITE s :ONED 2 HIGH DENSITY M F # SHOP CTR #OMM s Asking $2.95 Mil

s NEW PRICE $1.299 Mil

s ACRES EACH Amazing price $69,900 ea.

3 LIGHT INDUSTRIAL LOTS

or 1-800-890-9855 CHRIS LANGHAUG 604-534-7974 langhaug@naicommercial.ca

GLEN LAMBERT 604-999-3707

INDUSTRIAL FREE STANDING BLDG. FOR SALE / FOR LEASE

$4.29 FEBRUARY 2012 Vol. 27/Issue 2

16 MAINSTREET WOWS THE TSE

Calgary landlord ranked among real estateâ&#x20AC;&#x2122;s best Mainstreet founder and CEO Bob Dhillon: Dear landlord to more than 7,000 tenants and hungry for more B.C. property

12 RETAIL AND THE MAGIC MIX

MERRITT, BC OPPORTUNITIES

For Sale Gas Station

VANCOUVER â&#x20AC;¢ LOWER MAINLAND â&#x20AC;¢ VANCOUVER ISLAND SECTION

â&#x2013;²

s Asking $3,550,000 s Asking $2,850,000 WE ARE YOUR SELF-STORAGE EXPERTS

Commercial/Industrial Land Highway 1 Access and Exposure Flood Hope Road, BC

2.24 ACRES FOR DEVELOPMENT COMMERCIAL/RESIDENTIAL LANGLEY, BC $2,450,000

Remaking old malls to seduce savvy consumers 19 CASHING IN ON HST AS TAX FACES THE AXE

Small businesses can reap final benefits - but they must spend money SPECIAL SECTION â&#x20AC;¢ B14

LIFESTYLE PROPERTIES

200th Street

s ,OCATED IN ,ANGLEY (IGHWAY FRONTAGE s # ZONED ACRES SQ FT OF BUILDINGS s 3ALES OFlCE PARTS STORE AND SERVICE BAYS s ,ARGE SALES LOTS 3ECURE STORAGE s #AN BE SOLD WITH OR WITHOUT BUSINESS s 0RIME RE DEVELOPMENT SITE s 0OTENTIAL DEALERSHIP OR (OME )MPROVEMENT #ENTRE s $3,500,000.00

DON & ANGIE MACDONALD 604-534-7974 or 1-800-890-9855

s s s s s s s

SQ FT 7AREHOUSE /FlCE "UILT !CRES 0AVED LOT &INISHED OFlCE WITH MEZZANINE (EAVY 0OWER &ENCED AND SECURE YARD %XTRA 9ARD AREA n 2ARE ,EASE RATE OF SQ FT NET $2,415,000.00

DON MACDONALD, CCIM

604-534-7974 or 1-800-890-9855 donmac@naicommercial.ca

Subject Property

Highway #1 Interchange

s 0RIME CORNER SOUTH OF (IGHWAY ON TH 3TREET s &UTURE INVESTMENT OPPORTUNITY IN AN ACTIVE DEVELOPMENT AREA s /PTION TO PURCHASE ADDITIONAL PARCELS TOTALING ACRES

GARY NIESNER DON MACDONALD 604-534-7974 or 1-800-890-9855

Build on the Power of Our Network. Over 350 Offices Worldwide.

PUBLICATIONS MAIL AGREEMENT 40069240 RETURN UNDELIVERABLE CANADIAN ADDRESSES TO CIRCULATION DEPARTMENT: 102 EAST 4TH AVENUE, VANCOUVER, B.C. V5T 1G2

WASHINGTON INVESTORS ALERT!

s 3MOKEY 0OINT "IG "OX $EVELOPMENT /PPORTUNITY /WNER 2ETIRING s ACRES ZONED COMMERCIAL PSF s 0AD 2EADY -ITIGATION 7ETLANDS COMPLETED 7ALMART #OSTCO NEARBY s .EWLY FUNDED mYOVER OVERPASS LEADS TO PROPERTY s #OMPLETE PACKAGE AVAILABLE

#ALL -IKE &OR mYER SEE WWW COPACREALESTATE COM

A2 Lower Mainland

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

CANADA`S BEST VALUE WESTWARD INN

MIXED USE DEVELOPMENT

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ROGER LEGGATT MAX ZESSEL

DON DUNCAN*

ERIC WALKER

RICK EASTMAN* KEVIN VOLZ

FREESTANDING OFFICE BUILDING FOR SALE

FOR SALE - 61 ROOM HOTEL WITH RESTAURANT

STRATA UNITS FOR SALE HARBOURSIDE LANDING

YALETOWN QUALITY OFFICES 10.18 ACRE INDUSTRIAL SITE TILBURY BUSINESS PARK PLUS WAREHOUSE IN PORT COQUITLAM

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RANDY SWANT* LEE G HESTER*

FOR SALE OR LEASE

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PHILIP CHENG

6 SEPARATE LEGAL TITLES IDEAL FOR OWNER-USER OR MANNING PARK RESORT & SKI INVESTMENT/OWNER-USER TOTALLING OVER 116 ACRES INVESTOR CENTRE OPPORTUNITY

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CHRIS DRIVER*/ BRETT AURA DON DUNCAN*

LAZY WHEEL MOBILE HOME PARK

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DAVID CANNING BRAD NEWMAN-BENNETT

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DON DUNCAN* CHRIS DRIVER*

ERIC WALKER

FOR SALE - NANAIMO LONG LAKE PLAZA

DEVELOPMENT OPPORTUNITY WITH INCOME

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MARK GALLAGHER

BURTON VAN ALSTINE* ROBERT STOKES

BILL RANDALL*

BURTON VAN ALSTINE* HUDGE PARMAR*

FOR SALE DOWNTOWN STRATA UNIT

MULTIFAMILY DEVELOPMENT SITE

RETAIL STRIP CENTRE PENTICTON

FOR SALE - MULTIFAMILY DEVELOPMENT SITE COURTENAY, BC

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TYLER PRIDHAM

BILL RANDALL* NOAH FREEDMAN

CHRIS NEWTON

ADAM FRIZZELL

SMALL FREESTANDING INDUSTRIAL BUILDING METROTOWN

WOOD LAKE DEVELOPMENT SITE

BURNABY MOTEL/ DEVELOPMENT SITE

FREESTANDING BUILDING IN NORTH BURNABY

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PETER GIBSON

BILL RANDALL*

RICK EASTMAN*

MARK GALLAGHER HUDGE PARMAR*

BRETT AURA

KYLE WILSON SEAN UNGEMACH**

FOR SALE - CLOVERDALE MEDICAL BUILDING

86.85 ACRE DEVELOPMENT SITE NOT IN ALR

FOR SALE - 32860 MISSION WAY, MISSION, BC

FREESTANDING BUILDING FOR SALE

DEVELOPMENT SITE MULTIFAMILY

INN ON THE WATER, SQUAMISH

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BRAD NEWMAN-BENNETT SCOTT MACPHERSON

HUDGE PARMAR* MARK GALLAGHER

BILL RANDALL*

MAX ZESSEL ROGER LEGGATT

RETAIL SHOPPING CENTRE INVESTMENT OPPORTUNITY

FOR SALE 65.53 ACRES, CHETWYND

FOR SALE - WILLOW CALE ROAD, PRINCE GEORGE, BC

FOR SALE - HARRISON HIGHLANDS, KENT

FOR SALE - 65.53 ACRES CHETWYND

TOWNHOUSE DEVELOPMENT SITE

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HUDGE PARMAR*

BILL RANDALL*

SOLD

BRETT AURA CRAIG BALLANTYNE

DAG MEYER

50% LEASED

Moving with confidence

BILL RANDALL*

Cushman & Wakefield Ltd. Suite 700 - 700 West Georgia Street P.O. Box 10023, Pacific Centre Vancouver, BC V7Y 1A1

T: 604.683.3111 www.cushmanwakefield.com www.vancouverlisting.ca

* Personal Real Estate Corporation **Sean Ungemach is licensed with SBU Realty Advisors Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. ***Craig Haziza is licensed with CAH Realty Inc. and has a contractual relationship with Cushman & Wakefield Ltd. ****Kevin Meikle is licensed with K.H.M.Realty Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. *****Bart Corbett is licensed with BG Corbett Realty Advisors Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, it is not guaranteed by Cushman & Wakefield.

BRETT AURA CRAIG BALLANTYNE

$0/5&/54 '&#36"3: 7"/$067&3 Â&#x2026; -08&3 ."*/-"/% Â&#x2026; 7"/$067&3 *4-"/% 4&$5*0/

41&$*"- 4&$5*0/ Â&#x2026; # LIFESTYLE PROPERTIES

FEATURES 16 0/ 5)& $07&3 .BJOTUSFFU XPXT UIF TUSFFU

On the cover Bob Dhillon, founder, president and CEO of Mainstreet Equity Corp.: eyes on B.C. and the U.S. rental markets. Photo: Kevin Udahl

"%7&35*4*/( %*3&$503:

TSE analysts rank Calgary landlord among top stock plays

12 3FUBJMFST TFBSDI GPS UIF Â¡NBHJDÂ¢ NJY

Savvy consumers, U.S. clients spur makeover of aging malls

#64*/&44 0110356/*5*&4

8 4&37*$&4 22 4&" 50 4,: 46/4)*/& $0"45 3&(*0/

19 )PX UP DBTI JO PO UIF )45 CFGPSF JU EJFT

Small business should take advantage of final tax rebates Download a PDF of all our Regional Roundups online at www.westerninvestor.com

2â&#x20AC;&#x201C;21 -08&3 ."*/-"/% 3&"- &45"5&

23â&#x20AC;&#x201C;27 7"/$067&3 *4-"/% 3&"- &45"5&

COLUMNS

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#64*/&44 0110356/*5*&4

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P O R TA L WAY & I - 5

This bank-owned property is located near Exit 263 and I-5, 12 miles south of the Peace Arch Border Crossing. 3 Parcels totaling 18.79 acres, fully serviced, new road improvements, curbs, gutters, sidewalks and curb cuts. See below for details.

LOT B

4 . 5 0 A C R E S $600,000 Permitted for 7 5,000 SF office buildings. 2 buildings completed into condos; 5 are sold, 3 are still available. Price includes permit for 5 more buildings. 3 condo offices valued at $390,000.

LOT C

4 . 5 4 A C R E S $585,000

3 R D PA R C E L 8.77 ACRES $975,000

Zoned Residential-Multi. 131 apartment units permitted, fully serviced. Zoned Residential-Multi. 236 apartment units permitted.

SELLER FINANCING AVAILABLE BUY ONE OR ALL THREE For more information, call our office.

RON BENNETT COMMERCIAL REAL ESTATE Ron Bennett

SUTTON GROUP WEST COAST REALTY

(USN Ret.)

CALL

/ Owner - Broker

LANGLEY 6842 202B Ave & 6868 202B Ave s 0RIME 4OWNHOUSE $EVELOPMENT 3ITE s $ESIGNATED 50! WITH UNDERGROUND OR STRUCTURED PARKING s %XCELLENT 6IEW 0ROPERTY CLOSE TO ALL !MENITIES s

27449 60th Avenue s !CRE 0ARCEL n &ULLY FENCED s ,ARGE #OUNTRY (OME WITH (ELPER 3UITE s %ASY !CCESS TO 4RANS#ANADA (IGHWAY AT TH 3TREET %XCHANGE s &UTURE 0OTENTIAL s

s !CRES TWO PARCELS s 0OSSIBLE &UTURE 0OTENTIAL s /PEN TO OFFERS

27691 Downes Road s !CRES s 0OTENTIAL "ERRY ,AND s ,ARGE 3HOP "ARN 3TORAGE s

â&#x153;&#x201C; VALUE FOR $

604-817-7338

Don Munro

ACREAGES

48th Avenue & 216th Street

1-360-671-9440 U www.RonBennett.com

ACREAGES

botsold@intergate.ca

ACREAGES

COMMERCIAL/INDUSTRIAL

CHILLIWACK 7640 Nixon Road

889 Lefeuvre Road s !CRES s ,ARGE -USHROOM &ARM s 3HOP #OMPOSTING &ACILITY s 'ROWING "ARN -ULTI 5SE "UILDING s

19518 32nd Avenue s !CRES IN #AMPBELL (EIGHTS s $ESIGNATED "USINESS /FlCE 0ARK s

s !CRES s LOG HOME LARGE SHOP s 0RIVATE LOCATION s

51140 Ruddock Road

LANGLEY 203-20771 Langley Bypass

s !CRES s 0OTENTIAL FOR ,OTS s

27571 60th Avenue s &ULLY &ENCED !CRES s -OBILE 3MALL (OME AND ,ARGE "ARN s #LOSE TO 4RANS#ANADA (IGHWAY AT TH s

700 Columbia Valley Road s !CRES s 0RIME &ARM ,AND s "UILD YOUR DREAM HOME HERE s

256th Street & 48th Avenue s !CRES IN A 'REAT LOCATION s "EAUTIFUL CLEARED LEVEL BUILDING SITE s )MAGINE THE LUXURY OF PLANNING YOUR DREAM FROM SCRATCH VS COMPROMISED BY EXISTING DETAIL s :ONED 25 s

7700 240th Street s !CRE PANHANDLED SHAPED LOT s ,ARGE SQ FT BDROOM RANCHER s SQ FT BDRM BASEMENT SUITE s 2ELAX IN COMFORT WITH JETTED TUBS BOTH UPSTAIRS AND DOWNSTAIRS s %AST FACING YARD s 2ECENTLY 2EMODELLED

â&#x153;&#x201C; GOOD RETURN

COMMERCIAL/INDUSTRIAL WHITE ROCK 1328 Johnston Road s SQ FT COMMERCIAL BUILDING s SQ FT LOT s :ONED #3 n 3ERVICE #OMMERCIAL :ONE s /PEN TO OFFERS

SURREY 11151 Bolivar St & 13340 112 Ave s !CRES ON CORNER s :ONED #() (IGHWAY #OMMERCIAL s

â&#x153;&#x201C; TENANT COVENANT

s SQ FT COMMERCIAL STRATA s &ULLY LEASED s %XCELLENT )NVESTMENT 0ROPERTY s

CHILLIWACK 8495 Aitken Rd, 8565 Aitken Rd & 8579 Aitken Rd s ACRE )NDUSTRIAL 6ACANT ,OTS s :ONED - 3ERVICE )NDUSTRIAL s 0ERFECT FOR SMALL BUSINESSES s EACH

8558 Chilliwack Mountain Road s ACRE 6ACANT )NDUSTRIAL ,OT s :ONED - 'ENERAL )NDUSTRIAL - (EAVY )NDUSTRIAL s ,EVEL LOT WITH A COMPACTED GRAVEL BASE s 'REAT ,OCATION 'REAT 0RICE s

â&#x153;&#x201C; UPSIDE

â&#x153;&#x201C; CAREFREE

A4 Lower Mainland

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

HOTELS, APARTMENT BUILDINGS and SITES in

Macdonald Commercial Real Estate Services Ltd.

VANCOUVER, VICTORIA, NANAIMO and SQUAMISH!

VANCOUVER PROPERTIES | BOB SCRAGG FOR SALE: INDUSTRIAL STRATA UNITS 3075 Willow, Vancouver

Featuring the Chieftain Hotel in Squamish!

25 rooms (+ guest suite) 150 seat pub, 210 seat night club, 50 seat lounge, leased café / retail outlet. Many renovations, including rooms redone boutique style, roof, ﬂooring, plumbing, electrical. This makes money! Price: $2,550,000. Cash: $550,000 + terms!

Night Club Operator needed to make this a real cash money maker!

• • • •

• •

Squamish, condo Site: 30 units, downtown. $1,250,000 + terms and/or possible joint venture available. Permits done and fees paid; ready to go. Squamish Strata Building: 16 commercial units. NOI = 7% cap rate. $1,650,000 Island Waterfront Boutique Hotel and Marina. Quality in a great Location. Nanaimo, Waterfront Hotel, marina and condo Site. $6,500,000. An existing income property plus 2 great development opportunities. Huge marina site. Nanaimo 4 star Hotel: 75 deluxe rooms. Adjoining sites available. Perfect for development and/or conversion into seniors community. Views of Lake.

th Ave, FOR SALE / 1275 LEASEW.: 75 OFFICE BUIDLING Vancouver

•

INDUSTRIAL STRATA UNITS, SURREY:

•

OFFICE BUILDING, BURNABY:

•

Central location 3 units available 1,400 to 1,650 sq. ft. Total 4,100 sq. ft. $275,000 each

•

High profile location, close to transit 75,000 sq. ft. total 40,000 sq. ft. available immediately Lease Rate $12/sq. ft. (long term) For sale $20M

• • • •

FOR SALE: 102 ACRES PRINCE GEORGE

FOR SALE: WAREHOUSE/SHOWROOM/OFFICE

Looking For Lower Mainland Hotel Opportunities: 50 - 100 - 150 rooms? Port Moody Apartment building: 32 huge suites: (7 x 1bed, 22 x 2bed, 3 x 3bed). Excellent building, good location and like Brand New! Completely rebuilt including plumbing, wiring, roof, windows, ﬂooring, cabinets, etc. 5.6% cap rate, $385,000 net.

Looking for large Richmond or North Van Development Sites?

Warehouse/Showroom/Office ½ acre, upper office 1,000 sq. ft. main office/showroom 1,500 sq. ft. warehouse 6,000 sq. ft.

•

For Commercial, Investment, Land Assembly and Project Development Call:

PAUL MURPHY (604) 986 1586 email: pmurph@telus.net

8369 RIVER WAY, VANCOUVER:

•

North Vancouver Prime holding properties: 4 large SF lots next to new approved Village Town Center, for high rise development, retail and Community Center. West Vancouver, British Properties:2 huge adjoining view lots. Possibilities for 3 lots subdivision, or join with neighbours for possibly four lots!

Easy access to New South Fraser Perimeter road & HWY 99 List Price: $1,350,000

•

WESTCOAST REALTY

•

Designated - Residential & Commercial • Services available • Super investment • Gravel opportunity while holding • $3,000,000 •

BOB SCRAGG 604.290.2906 | bscragg@macrealty.com

RARE GOLF COURSE OPPORTUNITY FOR SALE | ERIC POON & KELVIN LUK Championship Golf Course with Hotel/Resort Potential, Vancouver Island Par 72, 6616 yards, 18 holes Championship Golf Course on 159 Acres 12,000 sq. ft. club house with pro-shop, restaurant, lounge and banquet facilities Full size driving range and large practice facilities Preliminary plans for a 200 rooms hotel and convention centre • 8,000 sq. ft. custom built home PRICE REDUCED • • • • •

CONTACT: ERIC POON / KELVIN LUK | 604.736.5611

FOR SALE: KITSILANO INVESTMENT | ERIC POON • 2 commercial units & 2 residential units / 3,342 sq. ft./ C-2 zoned site •

List Price: $1.7M

CONTACT: ERIC POON | 604.736.5611

FOR SALE: CAMPBELL HEIGHTS | CHRIS MIDMORE, BRIAN BARBER, MATT NUGENT •

20 Acres designated Business Park. Excellent access/egress to and from all parts of Metro Vancouver & close to amenities. / List Price: $10,880,000 CONTACT: CHRIS MIDMORE/ BRIAN BARBER/ MATT NUGENT | 604.736.5611

COURT ORDERED SALES | BRIAN TATTRIE & GARY KHAN • •

2 retail strata units, Langley: $499,000 REDUCED: $469,000 Office Building, New Westminster List Price: $1,200,000 SOLD CONTACT: BRIAN TATTRIE - 604.714.4783 | GARY KHAN - 604.714.4799

FOR SALE: KELOWNA GOLF RANGE - Land, building & business | GARY KHAN • •

FOR SALE: LITTLE MOUNTAIN CHILLIWACK - 59 Lot Subdivision | GARY KHAN

c c

Land, building & business for sale. Approx. 10 acres in ALR. List Price: $1,650,000 REDUCED: $1,585,000 GARY KHAN | 604.714.4799

•

59 lot subdivision / Little Mountain Chilliwack List Price: $4.5M CONTACT: GARY KHAN | 604.714.4799

FOR SALE: NIGHT CLUB LIQUOR PRIMARY LICENCE | JOHN SULLIVAN c

•

Licence “parked” in Yaletown until new location avaialble CONTACT: JOHN SULLIVAN | jsullivan@macrealty.com

Price: $600,000

FOR SALE: GASTOWN NIGHT CLUB | JOHN SULLIVAN •

397 Seats - established over 20 years. Excellent Long Term Lease

•

List Price: $750,000

CONTACT: JOHN SULLIVAN |604.714.4773

more listings available www.macdonaldcommercial.com Vancouver 604.736.5611 Fraser Valley 604.590.4444 commercial@macrealty.com Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.

Lower Mainland A5

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

APARTMENT BUILDING SPECIALIST NEW WESTMINSTER

CLOVERDALE

11 Strata Title Town homes Immaculate buildings & grounds Gross Income $84,076

28 Unit Apartment Building Great Tenant Base Gross Income $238,408

36 Unit Apartment Building Large, bright suites. Gross Income $331,942

NEW WESTMINSTER

BURNABY

CHILLIWACK

SOL

SOL 21 Unit Apartment Building Completely Renovated, Views Gross Income $235,885

EAST VANCOUVER 11 Units â&#x20AC;&#x201C; fully tenanted Close to all amenities Gross Income $113,967

48 Unit Apartment Building Near Metrotown & Skytrain Gross Income $513,107

Plus many other listings! Please visit our website at www.billgooldrealty.com for more information.

604.263.2823

PRIME DEVELOPMENT SITE

RETAIL FOR SALE/LEASE

INDUSTRIAL SALE

INVESTMENT BUILDING

1396 Richards Street, Vancouver 30,000 sq ft lot, 2/3 of a city block DD-L1 zoning 150,000 sq ft buildable density Operating business included with sale

906 Main Street, Vancouver 4,314 sq ft on two levels )JHI FYQPTVSF DPSOFS JO USFOEZ MPDBUJPO 3FTUPSFE IFSJUBHF CVJMEJOH t )JHI DFJMJOHT (BT t QBSLJOH TUBMMT

1523 East Pender Street, Vancouver 3,653 sq ft warehouse/office building PO Y MPU t 'VMMZ GJOJTIFE DFJMJOH IFJHIU t (SBEF MFWFM MPBEJOH Enclosed secured parking

1205 Nanaimo Street, Vancouver Y MPU t $ ;POJOH Corner of Nanaimo and William Streets 'VMMZ -FBTFE t "TLJOH

1186 Granville Street, Vancouver 3,000 sq ft development site '43 t 1BSLJOH JODPNF )JHI FYQPTVSF MPDBUJPO

Tom Bakker, James Bayley

James Bayley, Meghan Kennedy

Mitch Ellis, Ryan Saunders

James Bayley, Tom Bakker, Meghan Kennedy

RETAIL STRATA SALE

STRATA OFFICE SALE/LEASE

RETAIL STRATA SALE

INVESTMENT OPPORTUNITY

1777â&#x20AC;&#x201C;1799 Kingsway, Vancouver 3,005 sq ft ground floor strata )JHI FYQosure corner location $362 per sq ft Fully leased until Dec 31, 2015

5854 Fraser Street, Vancouver 1,248 sq ft Leased to Fitness Co. for 5 years Approximately 5.5% cap

205 - 1742 West 2nd Avenue, Vancouver 1,039 sq ft fully improved office space 0QFO BSFB t ,JUDIFOFUUF t )JHI DFJMJOHT )BSEXPPE GMPPST t 0QFOJOH XJOEPXT Private storage

226 - 17 Fawcett Road, Coquitlam 2,920 sq ft unit Tilt-up concrete construction Air-conditioned offices Grade loading

7464 Hume Avenue, Delta 20,884 sq ft facility 0.92 acres of land Fully leased Single tenant

Conor Finucane

Jason Marriott

Steve Caldwell, Phil Gibbons

Anthony Lux, Casey Bell

INDUSTRIAL SALE

STRATA UNIT FOR SALE

9.95 ACRES HOLDING PROPERTY

DEVELOPMENT SITE

INDUSTRIAL LAND FOR SALE

Pr ice

Re du ce d

LOT FOR SALE

4 Ave

176th Street/PaciďŹ c Highway

Hume Ave

George Blvd King

116 Ave

2231 Vauxhall Place, Richmond 13,638 sq ft freestanding building on 0.65 acres Concrete tilt-up construction 3 grade level loading doors )JHI DFJMJOHT t 2 floor office build-out

21320 Westminster Hwy, Richmond 3,005 sq ft fully leased industrial strata unit Grade loading t Assigned parking Approximately 19â&#x20AC;&#x2122; clear ceiling height Lease expires February 28, 2015

Casey Bell, Anthony Lux

410 & 456 176th Street, Surrey Two lots - only $176,000 per acre Excellent holding property with revenue BDSF HSBWFM ZBSE t $MPTF UP 64 CPSEFS Chris McIntyre, Tony Capolongo, Sebastian Espinosa

13061 King George Boulevard, Surrey 5.34 acre site Residential/Industrial per OCP Between Scott Road & Gateway stations Asking $3,995,0000

12829 116th Street, Surrey Three parcels totalling 1.494 acres Prime exposure site Bordering SFPR Proximity to Surreyâ&#x20AC;&#x2122;s new city centre

Rand Thomson, Sebastian Espinosa

For more information on our available properties and range of commercial real estate services please contact us today. Tel: (604) 684 7117

www.dtzvancouver.com

Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent veriďŹ cation. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 02/2012.

A6 Lower Mainland

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

'FFMJOH TNVH 5FMM UIBU UP GPMLT JO *[NJS BOE +FEEBI estern Canadians often feel smug about their cities. We see them as rich, progressive and far superior to most if not all of those cities outside of the industrialized West. Well, tell that to the folks in Shanghai, Izmer or Jeddah, all cities that were recently ranked in the top five in economic performance among the worldâ&#x20AC;&#x2122;s 200 largest metropolitan areas. Canada, not so much. Calgary is the highest ranked at No. 51 on the world economic ladder. Edmonton is 60th, Vancouver is 76th and Toronto is 79th. For the record, Hamilton comes in at 83rd and Ottawa and Montreal are ranked 109th and 120th, respectively. Compiled by the Brookings Institute, the study found that 90 per cent of the fastestgrowing metro economies are located outside of North America and Western Europe. Gulp. In fact, three of the top 10 are in Turkey and the top spot is in China. First is Shanghai, the Asian financial power centre. Second is Riyadh and third is Jeddah, both in Saudi Arabia. Fourth is Izmir, Turkey; fifth is Hangzhou, China; sixth is

Ankara, Turkey; seventh is Istanbul, Turkey; eighth is Shenzhen, China; ninth is Santiago, Chile; and Shenyang, China, is placed in the 10th spot. The Brookingsâ&#x20AC;&#x2122; measure of economic muscle is based on the growth rates of GDP per capita and employment. Tokyo is the biggest metropolitan area in the survey with a GDP approaching $1.4 trillion. Calgary has a GDP of around $60 billion. Even when factoring out the faster growing emerging markets, Canada still ranks behind some questionable cities. Besides Houston and Dallas, Stockholm, Sweden; Rochester, New York; and Braunschweig-Wolfsburg, Germany all rank ahead of Calgary. Four German cities, Seoul, South Korea; Guadalajara, Mexico; and Saint Petersburg, Russia outrank Edmonton on the economic front. But if you look at actually living in the top cities, many western Canadians would likely prefer to stay home. Rochester versus Edmonton? Santiago or Vancouver? Get serious. Jeddah, for instance, has no nightclubs, no movie theatres and there are segregated eating establishments for men and women. The penalty for adultery is being stoned to

8&45&3/ 1&341&$5*7&

MAPLE LEAF TU 3&"-5: -5% 1. KHALSA BUSINESS CENTRE a. 2,364 Sq Ft fully ďŹ nished professional 11 OfďŹ ce on Second Floor with Elevator-services, fully air conditioned, Strata fee $318.33 per month available immediately for Lease @ $12 PSF or Sale @ $225 PSF b. 3 units @ 8388 128th Street, Surrey BC 3,615 Sq ft high ceiling CD zoned, occupied by the same Carpet Store for 13 years Guaranteed leased for 24 months @ 6.5% cap rate. c. 1,183 Sq Ft units 8334 â&#x20AC;&#x201C; 128th CD Zoned can accommodate most of retail business is available for Lease @$1,850 per month plus NNN or at SALE $ 275,000 d. 1,033 Sq ft unit leased for $2,300 per month until 2014 Asking $310,000 2. 13.3 acres ALR Flat Land for Sale @ 4915 Railway Road, Surrey MLS # F 3101190 backs on to Hwy 99 and Colebrook Road, Surrey Asking $ 989,000 3. Exclusive listing - 32 Acres Prime ALR Flat Land in Cloverdale next to BIG developments, Blueberry Farm Asking $ 3.5 M

Hari Sharma

death. Shanghai is ranked among the most polluted cities in the world, with air quality consistently rated as â&#x20AC;&#x153;severeâ&#x20AC;? or â&#x20AC;&#x153;hazardous,â&#x20AC;? on the global air quality index scale. A quarter-of-a-million Istanbul residents live in the largest slum in Eastern Europe. Santiagoâ&#x20AC;&#x2122;s crime level, while low by South American standards, would probably send Vancouver gang members running to their mothers. And the rest of the top 10? None of them even has a good hockey team.

/&95 .0/5)

Western Investor looks at the industrial sector, which represents the hottest real estate sector in some key Western cities. We report on urban renewal projects that are transforming traffic and investments from downtown Winnipeg to Vancouver Island. We present the second in our Investing 101 series: looking at buying in joint ventures. Our regional reporters file from Fort McMurray, Moose Jaw, the Pas and Prince Rupert. Plus, we present all the news and commentary for western investors. FRANK Oâ&#x20AC;&#x2122;BRIEN EDITOR wieditor@biv.com

SENIORS Housing FOR SALE SIDNEY r VOJUT TG r $PODSFUF DPOTUSVDUJPO r /FX CVJMEJOH r $VSSFOUMZ WBDBOU r $PVSU PSEFSFE TBMF "TLJOH $12,990,000

MAPLE RIDGE r VOJUT JO DPVOUSZ TFUUJOH r &YQBOTJPO QPUFOUJBM r 'VMMZ PDDVQJFE "TLJOH

$1,250,000

LANGLEY r CFE DBSF IPNF r 3FTJEFOUT UP CF SFMPDBUFE JO 'BMM r BDSF PG MBOE r 4VJUBCMF GPS SFEFWFMPQNFOU UP NVMUJ GBNJMZ

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ROBIN HILL MICHAEL BARAGON* CCIM *PREC 604-682-3369 604-816-2886 www.carewestproperties.com

Publisher Cheryl Carter Editor Frank Oâ&#x20AC;&#x2122;Brien Contributing Writers Susan M. Boyce, Cam Fortems, Dave Husdal, Geoff Kirbyson, Glen Korstrom, Joel McKay, Peter Mitham, Kevan Oâ&#x20AC;&#x2122;Brien Copy Editor Noa Glouberman Production Manager Rob Benac Production Natalie Reynolds, Tanya Van Advertising Sales Manager Christine Campbell Advertising Sales Paul Douglas, Gary Takahashi Advertising Sales Coordinator Angela Foster Accounts Receivable Yvonne Posch Circulation Veera Irani, Newsstands Globe Distribution Services Printed in Canada at Kodiak. Western Investor is published monthly by BIV Media Limited Partnership VANCOUVER â&#x20AC;&#x201C; HEAD OFFICE: 102 East 4th Avenue, Vancouver, B.C. V5T 1G2 Subscriptions and Advertising Sales Tel: 604669-8500 Fax: 604-669-2154 Canada/U.S. tollfree: 1-800-661-6988 Alberta, Saskatchewan & Manitoba Advertising Sales toll-free: 1-888606-6267. Canadian publications mail product sales agreement #40069240, GST #105655567. Copyright 2002. While every effort is made to ensure the accuracy of articles and advertising that appear in each edition of Western Investor, the publisher may not be held responsible for any errors or omissions that may from time to time occur. No part of this publication may be quoted or reprinted in any medium without the express written permission of BIV Media Limited Partnership.

ADVERTISING DEADLINE MARCH 2012 issue: February 13, 2012

POWELL RIVER INVESTMENT O P P O RT U N I T I E S Multi-use Light Industrial Property

1.3 acres with 16 storage bays, office, 21â&#x20AC;&#x2122;x41â&#x20AC;&#x2122; shop/bay with 3 phase power. Fully fenced, easy highway access, good exposure, room for expansion, just minutes south of Powell River. $339,000

Ideal Commercial Building Site

with fantastic ocean view! Paved 33â&#x20AC;&#x2122; x 86â&#x20AC;&#x2122; lot on busy Marine Avenue among downtown restaurants, retail and service outlets. $99,900

In-Town Oceanfront Industrial Property

Multi-purpose Development Property; 97 acres gently sloping land + approx 19 acres of foreshore with deep water access. $3,100,000

Magnificent Waterfront Acreage

245 acres west sloping land approx. 2700â&#x20AC;&#x2122; waterfront; incredible panoramic views; in ALR $3,100,000

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132 acres just past downtown core; select areas provide stunning ocean & island views; in ALR $849,000

Ideal Agri-Business Opportunity

102 acres fairly level land; many possibilities; easy access; in ALR $569,900

Great Investment Property

30 acre wooded parcel zoned M3 Industrial; easy access; services available $349,000

Aroma's Gourmet Coffee & Lunch

Well established; steady clientele. Leased space in active business complex; Across from Airport. Financials available. $49,500

Lower Mainland A7

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

Vancouver Ofﬁce 604 687 7331 s

For more information visit our website

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FEATURED LISTING SOLD – Seylynn Village, North Vancouver

FOR SALE – Abbotsford Industrial Land

1502-1544 Fern St, 1516-1561 Bruce St, & 652-664 Mountain Highway

LD SO

s 2ARE SERVICED LAND

s 0URCHASE 0RICE PER SF BUILDABLE s 3ITE 3IZE ACRES s &32 s ,OCATED CLOSE TO (IGHWAY THE 3ECOND .ARROWS "RIDGE THE CORNER OF -OUNTAIN (IGHWAY &ERN 3TREET

s :ONED )NDUSTRIAL #OMMERCIAL s AND ACRE SITES s TO ACRE SITES s ,OCATED AT -T ,EHMAN 2D "ROOKSIDE !VE s M TO 4RANS #ANADA (WY .JDIBFM 'BSSFMM +PIO &BLJO

.BUU 5IPNBT ,ZMF #MZUI FOR SALE – Dollarton Business Park - 197 Forester Street, North Vancouver

FOR SALE – 1027 Ryan Road, Courtenay s RENTAL UNITS s ACRES s %XCELLENT ASSUMABLE l NANCING s (ELD IN A BARE TRUST TAX SAVINGS

s "RAND NEW STOREY STRATA OFl CE m EX INDUSTRIAL BUILDING s ,OCATED IN .ORTH 6ANCOUVERgS FASTEST GROWING COMMERCIAL HUB s 5NIT SIZES FROM APPROX SF SF FULL m OOR 5FSSZ 5IJFT *BO 8IJUDIFMP

3PC (SFFS $ISJT 8JFTFS

SOLD – 1180 Esquimalt Road, Victoria s UNITS D L s 3ENIORS BUILDING SO s %XCELLENT IMPROVEMENTS s "ELOW MARKET RENTS $ISJT 8JFTFS 3PC (SFFS

SOLD – 1550 East Hastings Street, Vancouver

FOR SALE – Paciﬁ c Colonade – 11965 Fraser St., Maple Ridge

HIGH EXPOSURE RETAIL INVESTMENT OPPORTUNITY 689 Denman Street, Vancouver

s /Fl CE 2ETAIL "UILDING s )DEAL FOR 5SERS )NVESTORS s 0RIME LOCATION ALONG $EWDNEY 4RUNK 2D NEXT TO #ITY (ALL s ACRE SITE WITH FUTURE REDEVELOPMENT POTENTIAL

.BSL )BOOBI 3PC (SFFS SOLD – Unit 106 - 2567 192 Street, Surrey

LD O S

s #OURT ORDERED SALE s &RONT EXPOSURE TO 3T s DOCK LOADING DOORS s SF OF 7AREHOUSE /Fl CE SPACE s +PIO &BLJO .JDIBFM 'BSSFMM

FOR SALE – 9781 186th Street, Surrey

LD SO

s SF SITE CITY BLOCK W FT OF FRONTAGE s $IRECT EXPOSURE TO OVER VEHICLES PER DAY s $EVELOPMENT /PPORTUNITY n &32 .BSL )BOOBI 3PC (SFFS 4USVBO 4BEEMFS

s (IGH END CORNER BUILDING ON $ENMAN 3T 7 'EORGIA 3T s $IRECT DAILY EXPOSURE TO VEHICLES s RESIDENTS WITHIN KM RADIUS s "USY PEDESTRIAN CORRIDOR NEAR ENTRANCE TO 3TANLEY 0ARK

3PC (SFFS .BSL )BOOBI FOR SALE - 2342 Windsor Street, Abbotsford s %XCELLENT USER )NVESTMENT OPPORTUNITY D SE A s SF SPACE AVAILABLE WITH YARD LE % s .EWLY LANDSCAPED AND RENOVATED 40 s +PIO &BLJO .JDIBFM 'BSSFMM FOR SALE – 9532 194A Street, Surrey

s ACRES IN PRIME 0ORT +ELLS LOCATION s ,IGHT )NDUSTRIAL ZONING s /UTSIDE STORAGE PERMITTED .JDIBFM 'BSSFMM +PIO &BLJO s

s ACRE LOT WITH SF BUILDING s TON CRANE HEAVY POWER • +PIO &BLJO .JDIBFM 'BSSFMM

FOR LEASE – Merchant Square, 1 Eighth St (@ Columbia St), New Westminster s 0REMIER SF #LASS ! OFl CE SPACE MID COMPLETION s ,%%$ 'OLD ENERGY EFl CIENT OFl CE BLDG W LARGE m EXIBLE m OOR PLATES s !DJACENT .EW 7ESTMINSTER 3KY4RAIN STATION %BSSFMM s !BUNDANT PARKING AMENITIES SPECTACULAR VIEWS )VSTU

FOR LEASE – 11125 124th Street, Surrey s SF &LEX /Fl CE 3PACE FOR ,EASE $EMISABLE s %XCELLENT VISIBILITY TO +ING 'EORGE "OULEVARD s !CROSS THE STREET FROM THE 3COTT 2OAD 3KY4RAIN STATION +PIO &BLJO .JDIBFM 'BSSFMM

CANADA WAY BUSINESS PARK s 0ROMINENT ANCHOR TENANT OPPORTUNITY AVAILABLE SKY SIGNAGE s ,ARGE m EXIBLE m OOR PLATES n UNITS FROM n SF s !BUNDANT AMENITIES INCLUDING ON SITE PROPERTY MANAGEMENT SECURITY HIGH RATIO PARKING FOOD SERVICES s 3HUTTLE SERVICE TO %BSSFMM )VSTU .BUU $SBJH 3KY4RAIN STATION FOR SALE – 1496 Rupert Street, North Vancouver s #OMMERCIAL BUILDING WITH BEDROOM PENTHOUSE APARTMENT s ,OCATED IN THE NEWLY REDESIGNED ,YNNMOUR NEIGHBOURHOOD s )NVESTMENT AND OR OWNER USER OPPORTUNITY ,ZMF #MZUI .BUU 5IPNBT s

FOR LEASE – 4738 & 4750 Main Street, Vancouver s !PPROX SF AVAILABLE CAN ALSO BE COMBINED FOR SF s #ONVENIENT -AIN 3TREET LOCATION s &ULLY RENOVATED INTERIOR AND STOREFRONTS AND BRAND NEW BUILDING FAÎADE s !REA TENANTS INCLUDE #)"# 2EXALL .ESTER S -ARKET "# ,IQUOR 3TORE AND MANY MORE +BNFT 4IBOESP

E D IC CE PRDU RE

FOR SALE – 2021-2025 St. John's Street, Port Moody s #OMMERCIAL -IXED 5SE $EVELOPMENT 3ITE s (IGHLY VISIBLE TWO ACRE CORNER SITE s ,OCATED ALONG THE %VERGREEN ,INE #ORRIDOR 1BUSJDJB -JECFUUFS 3PCFSU (SJUUFO FOR LEASE – 1132 Hamilton Street, Vancouver s OR SF RETAIL PREMISES AVAILABLE *UNE s 0ROMINENT 9ALETOWN LOCATION WITH SIGNAGE EXPOSURE s &RONTAGE ON BOTH (AMILTON -AINLAND 3TREETS s /UTDOOR PATIO SPACE FRONTING -AINLAND 3TREET .BUU 8BMLFS .POB ,IBOEBO FOR SALE/LEASE – 1455-1475 East Georgia Street, Vancouver s n SF OF /Fl CE 7AREHOUSE AVAILABLE CE ED I s ) ,IGHT )NDUSTRIAL ZONING C PRDU s $OCK AND 'RADE LOADING RE s +PIO -FDLZ 4USVBO 4BEEMFS Avison Young Commercial Real Estate (B.C.) Inc.

A8 Lower Mainland/Services COMMERCIAL MORTGAGES

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WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

FEATURE Thriving public markets prompt overhaul of New West Quay and plans for another in Ladner

WESTERN INVESTOR etro Vancouverites’ enthusiasm for Granville Island, Lonsdale Quay and other public markets has helped convince investors to sink $5 million into revitalizing the former New Westminster Quay and draft a proposal for a public market on Ladner’s waterfront.

But analysts warn that investing in New Westminster and Ladner quays might not yield major market success because neither site is next to a major transit hub. Mark Shieh bought the New Westminster Quay for an undisclosed price in mid-2008 when the struggling market was listed at $11.25 million. He renamed it River Market at Westminster Quay and sunk roughly $5 million into gutting the 172,000-square-foot site, upgrading its heating and cooling systems and adding new interior walls. Renewed interest from local small-business owners followed.

/P DIBJOT

Julie Ramirez, the quay’s community services manager, said about 90 per cent of the space has been leased, leaving only two empty sites: one in the quay’s retail hall and the other set to be a second-floor restaurant. Vancouver-based independent grocer Donald’s Market opened its third location in the quay in late 2010, and more than a dozen other tenants have since taken space. None are international chains. New tenant Andrew Wong, for example, had for years wanted to open a second Wild

Rice restaurant to capitalize on the success of his Pender Street location. He brought in partner Todd Bright, and the two officially launched their New Westminster Wild Rice restaurant on January 7. “We’ve been looking for a few years for a location that has the potential for a patio. We absolutely don’t have that on Pender Street,” Wong said. “We also wanted a place on the water, whether ocean or river. This came up, and I liked that the whole complex’s main floor was going to be centred on food.” Ramirez declined to reveal what incentives Shieh has offered potential tenants. But retail analyst and Dig 360 owner David Gray said retailers and restaurateurs setting up shop in a quay need to ask the same questions they would if they were moving into any other location. “The basics still apply,” Gray said. “How much traffic is there? Is it your shopper base that is part of that traffic? What is the deal on the table at the quay? How is the quay marketing itself? Who is adjacent to your business? These are basic location questions, and they apply the same at a quay as if you were to locate at a mall somewhere.” He said the River Market at Westminster Quay will have to be marketed to people outside New Westminster if it’s going to be a success. That is partly because the site is a bit of a walk from SkyTrain and, for most people, is not on the way to another destination.

TOP: Andrew Wong: New Westminster River Market chosen for his second Wild Rice restaurant. LEFT: Overview of River Market, New Westminster: nearly 100 per cent leased. Photo: Inn-On-The-Quay

GLEN KORSTROM

Photo: Richard Lam

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“They may be waiting for the right time,” he said. “You don’t want to be premature with a story and have people come out and be disappointed.”

-BEOFS

Gary Mathiesen, who has developed several public markets, believes quays are popular because they’re an alternative to malls and traditional groceries. “Retailers at a quay are going to be owneroperators,” said Mathiesen, who owns Quay Property Management. “They’re usually accessible on water and have events happening in and around it. It’s more than just going to Park Royal centre and shopping. It’s more of a family and social experience.” The Corporation of Delta announced

December 13 that it had selected Mathiesen’s company to submit a detailed proposal to redevelop Delta-owned properties along the Ladner waterfront. Ladner, part of the Delta, is on the Fraser River. “The proponent’s intent is to create a vibrant marine-themed marketplace with a mix of restaurant, retail, small-scale office, eco-tourism and public uses,” said a municipal press release. “Public access to the waterfront and public moorage are key features of the concept.” Mathiesen helped develop Lonsdale Quay Market in the mid-1980s and then bought it in 1994. In 2005, BC Ferries partnered with him to develop the Tsawwassen Quay Market at its ferry terminal. Soon afterward, BC Ferries expanded its relationship with Mathiesen and hired him to build and manage the quay market at Nanaimo’s Departure Bay ferry terminal. Mathiesen has thus far focused his sixemployee business on B.C., but he hopes to expand to other provinces.◆

-PXFS .BJOMBOE FOR SALE . ASED BE LE DETAILS Y A M L FOR CAL

www.danpreston.ca Personal Real Estate Corporation ,!.$ !33%-",9 s $%6%,/0-%.4 s ).#/-% 02/0%24)%3

81,260 sq.ft. R&D

UÊQUESNELÊ£°ÇÊ VÀi]ÊÓÊ >Ì > Ã]Ê $144,500Ê ]Ê$2.1 M]Ê£ä]äääÊÃvÊÊ ÊÌ Ê>``°

COMMERCIAL R E A L E S TAT E S E R V I C E S SENIOR'S DEVELOPMENT SITE SALE: $2,480,000 Foundation in place, tendered plans, permits, ready to complete. 88 units.

NEW WEST/BURNABY MIXED DEVELOPMENT 39 Apartment Units, 7 Townhouse Units $2.69 Million. OCP & Area approved plan.

UÊPRINCE GEORGEÆÊ££nÊ>VÀi]{Ê Ê iÌÀiÃÊ }À>Ûi ]Ê>LÕÌÃÊ> À« ÀÌ®Ê$4,250,000

1521 WEST 4TH AVE

BUILDING AT UBC

Corner lot of 5,650 sq ft. Cash business included. $2,475,000 * Stage 2 Completed * Call Larry Traverence 604-787-7654

3800 Wesbrook Mall provides an excellent environment that will support and enhance the intellectual and social development goals of companies involved in R&D. Laboratories, ofﬁ ces, teaching, training, and conference facilities, in support of research and development in a number of key areas. OFFERS

Kris Pope 604-318-5226 NIGHT CLUB IN WHISTLER VILLAGE Newly renovated, 2 level Night Club/Pub right in the heart of Whistler Village. $499k Call Kris or Larry for details.

FOR SALE

SOLD

1028 HAMILTON STREET 30 ACRES Residential Mountain Top 20 Estate Homes - $5.5M Your specialist in PRIME income-generating and redevelopment opportunities:

UÊKELOWNAÊÈ{ÊÕ ÌÊ ` ÉÀiÌ> °ÊÊ

ÀiÊ>Ài>°Ê¼LÕ `ÊÌ ÊÃÕ Ì½Ê$11,750,000

4 storey plus basement. 30,000 sq ft Asking $16,999,000

Larry Traverence 604-787-7654 FOR LEASE 725 Eaton Way Approx 9,200 sq ft warehouse with approx 3,800 sq ft ofﬁce space. Attractive rates.

Larry or Kris 604-689-8226

Dexter Associates Realty Commercial Real Estate, Your Trusted Advisors “We are focused on achieving the results YOU want.”

UÊGRAND PRAIRIEÆÊ Ýi`Ê"É,ÊÊ $130,000 ÃÌ>L âi`Ê ]Ê ¯ÊV>«Ê UÊKAMLOOPS;ÊÈÊÕ Ì]Ê $95,000Ê«iÀÊÕ Ì UÊPRINCE GEORGEÆÊÓx£ÊÕ ÌÃÊ]Ê £ÎÊ>VÀi]Ê$12,500,000 UÊPRINCE GEORGEÆÊÊ ÎÊÃi«Ê>«>ÀÌ i ÌÃÊ£Ó £ÈÊÕ ÌÃÊ UÊSUNCOR / MCDONALDS DISP°ÊÊ {ÊÃ ÌiÃÊ£Î]äääÊÃvÊÌ Ê{ä]äääÊÃvÊ UÊRAMADA VALEMOUNTÊÇäÊÀ Ã]Ê> Ê > i Ì iÃ]Ê iÜÊ«À «iÀÌÞ]ÊÃ >ÀiÊÃ> i]ÊÊ ¯Ê >«Ê,>Ìi UÊBURNABY;Ê vwViÊLÕ ` }ÊÊ n]äääÊÃvÊ$900,000 UÊQUESNEL; À V Ê ÕÀ ÌÕÀiÊ Õ ` },ÊÊ °n Ê>VÀiÃ]Ê£Ç]äääÊÃµÊvÌ]ÊÓÈÊ«>À }]Ê«Þ Ê Ã } Ê$1.5 MÊ

PETER SEED 604-691-6608 peter@naicommercial.ca

A10 Lower Mainland

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

INVESTMENT OPPORTUNITIES WESTLOCK COUNTY, AB

COUNTY OF RED DEER, AB

7JH>C:HH DEEDGIJC>IN Vancouver / Lower Mainland

CAMPBELL RIVER, BC

LOOKING FOR OPERATOR TO TAKE OVER 1. Two Year old Bar/Grill/ Restaurant Operation 2. Existing Revenue $1,800,000.00 Per Annum 3. New Building and Equipment UÊ ÝiVÕÌ ÛiÊV Õ ÌÀÞÊ Û } UÊ{xääÊÃµ°vÌ°Ê{ÊLi`À Ã UÊLÕ }> ÜÊÜ Ì ÊÎÓÊ>VÀiÃ UÊÃÕL` Û Ã Ê« Ìi Ì >

UÊ ÕÃÌ ÊLÕ ÌÊLÕ }> ÜÊ UÊ > Ì>ÃÌ VÊÎ]ÓnÎÊÃµ°ÊvÌ°Ê UÊ" Ê °£ÓÊ>VÀiÃ UÊÎÊV>ÀÊ}>À>}i]Ê >À}iÊÃ «

JERRY RACZKOWSKI 780-932-2121

4. High End Facility with Beautiful Decor

UÊÎ°£{Ê>VÀiÃ UÊÎ ÇÊviiÌÊ vÊ7>ÌiÀÊ À ÌÊ UÊ< i`Ê iÀV > Ê ÕÀÊ {®Ê UÊÛ iÜÃÊ vÊ i À} >Ê-ÌÀ> } Ì

5. JUST TAKE OVER LEASE - Includes All Equipment / Furniture / Fixtures & Revenue 6. Applicant(s) must be financially qualified and possess extensive experience in hospitality industry Interested applicants are requested to provide contact information and qualifications to

e-mail: jrcoach@telus.net

RE/MAX Real Estate Commercial Division

Golden, BC – 101 pads, 13 acres ...........5,900,000 North Battleford, SK – 60 pads, 10.9 ac .2,700,000 Invermere, BC – 31.48 acres, MHP site . 1,900,000 Kindersley, SK – 51 pads, 4.0 acres .......1,400,000 Radium, BC – 9.77 acres, Cml Hwy Frtg ....900,000 Raymond, AB – 32 pads, 4.8 acres .............875,000 Quesnel, BC – 30 pads, 9.25 acres ...........625,000 Cherryville, BC – 25 pads, 22 acres ..........685,000 Ashcroft, BC – 8 pads, 0.64 acres ..............369,000 Houston, BC – MH & RV Park, 40 ac+/- ....299,000 604-302-3771 or TF: 1-888-251-2822 Fax: 1-888-804-1394 Email: hjesse@mobileparks.com

Homelife Glenayre Realty www.mobileparks.com

Attention Agents: TO ADVERTISE

HERE

call Gary Takahashi toll-free: 1-800-661-6988 direct: (604) 608-5111 or fax: (604) 669-2154

barandgrillopportunity@gmail.com

GAS STATION – LAND & BUILDING .6 ACRE LAND. OVER 4,000 SQ FT BUILDING AND 2 ROAD FRONTAGE. FIBERGLASS TANKS. EXCELLENT GROSS & NET PROFITS. $2.9 MIL PIZZA BUSINESS FRASER VALLEY - LOW LEASE $49,000 GAS STATION WITH LAND AND BUILDING (FRASER VALLEY) $1.8 MIL GAS STATION WITH LAND & BUILDING $2.8 MIL OVER 1.5 MIL IN STORE SALES. GAS: OVER 3MIL LITRES. NEW TANK AND PUMP. EXCELLENT GROSS PROFITS AND NET INCOME GAS STATION WITH LAND & BUILDING OVER 8 ACRES OF LAND. C-STORE, RESTAURANT, HOUSE. ON HWY 1 $1.19M HOUSE ON 4 ACRES ZONED FOR MOBILE HOME PARK $399,000 MORE DETAILS CALL:

LIQUOR STORES, PUBS, HOTELS/MOTELS NANAIMO ROAD HOUSE & LIQUOR STORE – $1,050,000 2½ acres. Land & buildings. Asset sale. Includes 2 suites. PRICED TO SELL VENDOR FINANCING 0.A.C. NEW WESTMINSTER PUB & LIQUOR STORE $2,950,000 (SHARE SALE). SURREY PUB & LIQUOR STORE – Money maker. $2,000,000 SHARE SALE.

QUEENSBOROUGH DEVELOPMENT PROPERTY – Cleared land, approx 34,000 sq ft – zoned commercial/residential. 3 PROPERTIES - $1,600,000 PUB IN BUSY SHOPPING CENTRE - PRICED BELOW REPLACEMENT COST. GREAT TERMS. QUICK POSSESSION. VANCOUVER ISLAND PUB & LIQUOR STORE GROSSING $3.6 MILLION. ASKING $1,900,000 FOR SHARES. NEIGHBOURHOOD LIQUOR STORES - PUBS - HOTELS - RESTAURANTS IF WE DON’T HAVE IT LISTED WE WILL FIND IT FOR YOU! MANY NEIGHBORHOOD PUBS IN ALL PRICE RANGES NOW AVAILABLE.

PAMMI MANDAIR CELL: 604-825-8121 OFFICE: 604-859-3141 pammimandair@gmail.com www.pammimandair.ca

Hurry!

BARRY BOCK / DON KAYTOR 604-575-5262

604-599-9287

Fax (604) 575-2214 Email: barry_bock@telus.net GLENAYRE REALTY

HOMELIFE BENCHMARK TITUS REALTY

www.barrybock.com

www.homelifebc.com

m[ij[hd_dl[ijeh$Yec d[mi$WhY^_l[i$h[fehji$kfZWj[i 9edjWYj ki \eh ceh[ _d\ehcWj_ed0 ,&*#,,/#.+&& eh WZl[hj_i[6m[ij[hd_dl[ijeh$Yec

Lower Mainland A11

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

www.naicommercial.ca Commercial Real Estate Services, Worldwide.

RICHMOND s $EVELOPMENT SITE &RANCIS 2AILWAY X FT $4.3 Million s 2ETAIL -ALL ON !LEXANDRA 2D SF LEASABLE AREA $11 Million s 0RIME 2EDEVELOPMENT 3ITE W INCOME $17 Million ,ANSDOWNE 6ILLAGE !REA

RICK LUI 604-644-6182 rick@naicommercial.ca

www.naibusinesses.ca HALCYON HOT SPRINGS VILLAGE & SPA 9EAR ROUND OUTDOOR PLAYGROUND WITH SPECTACULAR FACILITIES 0ROl TABLE RESORT SPA BUSINESS WITH NATURAL HOT SPRINGS ACRES WITH M WATER FRONTAGE AND STRATA CHALETS "USINESS AND PROPERTY $15,900,000 VANCOUVER ISLAND RESORT & SPA NEW LISTING 0ROl TABLE RESORT LODGE AND SPA OFFERING WORLD CLASS DINING AND SPECTACULAR OCEAN VIEWS 3ITUATED ON ACRES OF OCEANFRONT PROPERTY THIS IS ONE OF THE l NEST SPAS IN .ORTH !MERICA :ONED FOR FUTURE DEVELOPMENT POTENTIAL $POA VALEMOUNT RAMADA HOTEL NEW LISTING ROOM 2AMADA HOTEL LOCATED IN THE HEART OF THE #ANADIAN 2OCKIES 6ALEMOUNT IS A TOURIST BASED ECONOMY KNOWN FOR BOTH WINTER AND SUMMER OUTDOOR RECREATIONAL ACTIVITIES #AP $4,200,000 RATE ENGINE DISTRIBUTION CO NEW LISTING 7ESTERN #ANADA ESTABLISHED DISTRIBUTOR OF MARINE AND INDUSTRIAL ENGINES AND RELATED PRODUCTS 3TRONG EARNINGS HISTORY TRAINED STAFF AND EXCELLENT PRODUCT LINES 3HARE SALE $2,500,000 inc inv & equip NIGHTCLUB BAR & GRILL +OOTENAYS 4HE MOST SUCCESSFUL CLUB IN THE +OOTENAYS WITH AWARD WINNING LIGHTING SYSTEM /NE OF THE LARGEST LICENSED ESTABLISHMENTS IN "# WITH POPULAR RESTAURANT GRILL "USINESS AND PROPERTY $1,750,000 VANCOUVER DINNER CRUISE BUSINESS REDUCED )N BUSINESS FOR OVER YEARS OPERATING TWO YACHTS FROM $OWNTOWN 6ANCOUVER .ETS $1.85m inc yachts UNIFORM DISTRIBUTOR ,OWER -AINLAND /VER YEARS IN BUSINESS $ISTRIBUTOR OF CORPORATE AND HOSPITALITY UNIFORMS AND PROMOTIONAL PRODUCTS $390,000 SUCCESSFUL CAFE RESTAURANT (UGELY POPULAR CAFE IN DOWNTOWN 3QUAMISH 'ENERATES MTH IN REVENUE 2ENT ONLY MTH %ASY TO OPERATE 4URNKEY OPERATION $299,000 inc equip

ALF SANDERSON DELON CHEUNG 604-691-6646

604-691-6654

alf@naicommercial .ca

delon@naicommercial .ca

42 SUITE APARTMENT BD, KAMLOOPS s 'ROSS )NCOME #AP 2ATE s 6ERY ATTRACTIVE ASSUMABLE #-(# MORTGAGE !SKING $3,850,000 MOBILE HOME PARK, KAMLOOPS s %XCELLENT LOC MIN DRIVE TO MAJOR MALLS s 'ROSS 2EV #AP 2ATE OF !SKING $1,725,000 KAMLOOPS LARGEST BREW PUB/ RESTAURANT s 2EV .ET 0ROl T s BUSINESS BUSINESS BUILDING BC CARE HOME s 7ELL ESTABLISHED WITH LONG TERM 'OV CONTRACTS !SKING $2,399,000 CRANBROOK RV & MINI STORAGE s !CRES EXPANSION OPTIONS TO DOUBLE NUMBER OF UNITS s 'ROSS 2EVENUE .ET !SKING $1,750,000 16 UNIT MFU, PORT ALBERNI s YEAR OLD BUILDING RENTED DEVELOPED TO BE 3TRATA !SKING $1,115,000

MICHAEL MARCKWORT 604-691-6638 michael@naicommercial.ca

BEAUTY BOUTIQUE & ACCESSORIES (Vancouver) 6ERY WELL KNOWN CELEBRITY BOUTIQUE SPECIALIZES IN MAKEUP SKINCARE FASHION AND UNIQUE SOUGHT AFTER BRANDS !LSO OFFERS EXTENSIVE BEAUTY SERVICES INCLUDING PROFESSIONAL MAKEUP APPLICATIONS .......... ......................................................Reduced $238 000 + inv BLUEBERRY FARM & NURSERY (Abbotsford) 3ITUATED ON PRIME -ATSQUI m ATS 4HIS WELL MAINTAINED FARM WITH NEW SQ FT HOUSE OFFERS MATURE "LUECROP AND $UKE ..........$1.98Mil MOTEL PUB LIQUOR STORE (Vancouver Island) ,AKE FRONTAGE ROOM MOTEL OFl CE SEAT PUB SEAT RESTAURANT GAZEBO /N THE SIDE THERE IS BUSY LIQUOR STORE ...$2.8Mil

ELIZABETH WOZNICZKO 604-691-6648 elizabeth@naicommercial.ca FOR LEASE OR SALE Asking: To Purchase: $1,798,000 To Lease: $35.00 NNN s 4HE ONLY UNIT AVAILABLE IN THIS SOUGHT AFTER 3/,$ /54 PROFESSIONAL CENTRE s 4ROPHY SUITE DEVELOPERS OWN TOP m OOR WITH EAST SOUTH VIEWS s 1UALITY IMPROVEMENTS WITH EXECUTIVE OFl CES RECEPTION BOARDROOM LUNCHROOM AND OPEN CUBICAL AREA s SQ FT s 6ACANT AND READY FOR YOUR OCCUPANCY FOR SALE LANGLEY FRASER HIGHWAY FRONTAGE COMMERCIAL STRATA UNITS 2 TO CHOOSE FROM s SQ FT READY FOR YOUR IMPROVEMENTS s (6!# AND SPRINKLERS TO AN OPEN PLAN s Asking $635,000 s SQ FT s )NCOME FROM CURRENT LEASE UNTIL s Asking $749,000 FOR SALE OR LEASE 102/103 26730 56 AVE LANGLEY Asking: To Purchase $650,000 To Lease $7.50 NNN s SQ FT FOOTPRINT WITH SQ FT OFl CE AND SQ FT MEZZANINE s REAR GRADE DOORS s - ! :ONING OFFICE STRATA FOR SALE OR LEASE HIGHWAY 10 AND 152 STREET LOCATION Asking: To Purchase $519,900 To Lease ... s 3Q &T s RD m OOR SOUTH FACING s 2EADY FOR YOUR IMPROVEMENTS s "/.53 n 0OLE SIGNAGE AVAILABLE s &INANCIAL 0LANNERS OR -ORTGAGE "ROKERS NOT RESTRICTED INVESTMENT Asking $3,600,000 NOI $240,000 6.6% Cap s (EAD LEASE WITH SUBLEASE TENANTS s &IVE YEAR LEASE JUST RENEWED MORE RENEWALS AVAILABLE s 4ENANT PAYS ALL COSTS s !CRES s 3URREY ,OCATION CAP-IT WESTERN CANADA FRANCHISES AVAILABLE s OUTLETS CURRENTLY s 4RUCK #AP AND ACCESSORIES INCLUDING 4IRES s &ULL TURNKEY OPPORTUNITY INCLUDING 4RAINING AND )NVENTORY s "# !LBERTA 3ASKATCHEWAN AND -ANITOBA TERRITORIES AVAILABLE s 3IZED TO l T ANY MARKETPLACE s &ROM AS LITTLE AS $150,000 ONE HOUR OPTICAL CENTRE !SKING $250,000 PLUS INVENTORY s 7ELL ESTABLISHED YEAR HISTORY s #ONSISTENTLY PROl TABLE s /NLY HOUR SHOP IN THIS .ORTHERN #OMMUNITY s 3OLID BASE WITH GOOD GROWTH POTENTIAL s /WNER RETIRING AND WANTS IT SOLD 99 PAD PHASED MANUFACTURED HOME PARK 100 MILE HOUSE AREA Asking $650,000 s ,AKE !CCESS AND VIEW s "RAND .EW n .O INCOME n ST PHASE READY FOR OCCUPANCY s ACRES PADS IN PHASES s ST PHASE PADS COMPLETED WITH SEWER WATER AND NATURAL GAS s 3ERVICES TO BE EXTENDED FOR OTHER PHASES AS REQUIRED s 'RAVELLED ROADWAYS THROUGH OUT s 0ROFORMA ESTIMATES PAD RENTAL GROSS INCOME OF ANNUALLY

TED WEIBELZAHL 604-514-6825 or 1-800-890-9855 tedw@naicommercial.ca

EQUIPMENT RENTALS Metro Vancouver s ,ONG ESTABLISHED s 6ERY 0ROl TABLE s &ULLY MANAGED s MIL ANNUAL SALES Shares $3.0mil EMPLOYMENT AGENCY Metro Vancouver s 4EMP 0ERM PLACEMENTS s %STABL YEARS SOLD s -ANAGEMENT IN PLACE s MIL ANNUAL SALES s 6ENDOR l NANCING AVAILABLE $319,000 ICE CREAM FRANCHISE Vancouver s %NGLISH "AY LOCATION s 3TATE OF THE ART FACILITY s #LASSIC OLD FASHIONED HOMEMADE ICE CREAMS s ANNUAL SALES Shares $459,000 DOLLAR STORE FRANCHISE &RASER 6ALLEY s 3INCE s (IGH EXPOSURE IN LARGE MALL SOLD s MIL ANNUAL SALES .............................. $358,000+Inv

Ted Stellakis 604-691-6692 stellakis@naicommercial.ca

COQUITLAM RETAIL OFFICE s SF SPLIT AS UNITS s VEHICLE COVERED PARKING s FT FRONTAGE ON CORNER Asking $699,000 / $154 PSF

BURNABY RETAIL WAREHOUSE s SF LOT WITH FENCED PRKG s SF LEASABLE UNITS s IDEAL OWNER USER BUILDING REDUCED $2,350,000 /$175 PSF

DON ELLIS 604-691-6668 donellis@naicommercial.ca 1.99 Acre Multi Family Development Site, Sechelt BC s /NE LEGAL PARCEL TOTALLING ACRES s :ONED 2 -ULTI &AMILY 2ESIDENTIAL s OF UNDERGROUND SERVICING IN PLACE s Call Listing agent 23.3 Acre Agricultural Site, Delta BC s /NE LEGAL PARCEL TOTALLING ACRES s :ONED ! !GRICULTURAL s %ASY ACCESS TO (IGHWAYS s $2,400,000 27.6 Acre Agricultural Site, Langley BC s /NE LEGAL PARCEL TOTALLING ACRES s :ONED 2U 2URAL &LOODPLAIN s !DJACENT TO .ATHAN #REEK DYKE s $2,760,000

COURT ORDERED SALES 397 Acre Development Site, Sechelt BC s :ONED #$ MIXED USE RESIDENTIAL COMMERCIAL RECREATIONAL s FEET OF WATERFRONT ON 0ORPOISE "AY $22,250,000 459.1 Acre Development Site, Cranbrook BC s :ONED #$ 5( 2 ALLOWING FOR LOW MEDIUM DENSITY RESIDENTIAL s 3URROUNDING 'ARY 0LAYER DESIGNED GOLF COURSE $22,300,000 0.82 Acre Light Industrial Site, Squamish BC s :ONED L ,IGHT )NDUSTRIAL Price: $450,000 116.53 Acre Development Site, Invermere BC s 4RIPLE :ONED 2 ! 3( VARIOUS USES Price: $1,499,000

INDUSTRIAL & DEVELOPMENT SITES 43,560 sq.ft. Industrial Waterfront Site, New Westminster, BC s :ONED - (EAVY )NDUSTRIAL s &IVE CONTIGUOUS WATER LOTS s FEET OF RIVERFRONT Price: $950,000 29.2 Acre Commercial/Industrial Development Site, Sechelt BC s :ONED #$ "USINESS 0ARK #OMPREHENSIVE $EVELOPMENT ALLOWING FOR VARIOUS COMMERCIAL LIGHT INDUSTRIAL USES $3,950,000 65 Acre Agricultural Resource Site, Sechelt BC â&#x20AC;¢ :ONED 22 2URAL :ONE ALLOWING FOR VARIOUS AGRICULTURAL GARDEN NURSERY SINGLE FAMILY AND RECREATIONAL USES $1,200,000 18.4 Waterfront Development Site, Sechelt BC s :ONED 2 ALLOWING FOR SINGLE FAMILY HOME OCCUPATION USES s !PPROXIMATELY FEET OF WATERFRONT $1,100,000

GARY HAUKELAND OR J.D. MURRAY gary@naicommercial.ca 604-683-7535 jdmurray@naicommercial.ca

Committed to Canada. Connected to the World.

A12

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

FEATURE Mall renovations, housing links, U.S. invasion and search for â&#x20AC;&#x153;the magicâ&#x20AC;? all shaping the sector

3F NBLJOH SFUBJM

the entire property from a suburban mall intoa true town centre.â&#x20AC;? Shape also plans to include a significant residential component when it begins renovations on its other recent acquisition, Lougheed Town Centre on the BurnabyCoquitlam border. â&#x20AC;&#x153;Single-entity malls are no longer working,â&#x20AC;? agreed Geoff Nagle, Morguardâ&#x20AC;&#x2122;s director of development, Western Canada. â&#x20AC;&#x153;Parking lots are an incredibly expensive and wasteful use of land. Densification will not only provide stronger retail opportunities but is actually a return to the time-honoured way of building weâ&#x20AC;&#x2122;ve always seen in Europe.â&#x20AC;?

SUSAN M. BOYCE/WI STAFF WESTERN INVESTOR tâ&#x20AC;&#x2122;s a quintessential part of modern life. The mall. Big-box retail, fast-food courts, high fashion, technology outlets, perhaps even a medical office.

7JDUPSJB Photo: Larco Developments

But change is coming to this North American tradition â&#x20AC;&#x201C; especially in Metro Vancouver where the majority of shopping centres were built between the 1950s and early 1970s, refurbished two or three decades later, and are now ready for another level of renovation and expansion. Niche marketing with a strong focus on branding, mixed-use applications increasingly with a sophisticated residential component and creation of a village-style social hub offering recreation, entertainment and community services â&#x20AC;&#x201C; many industry insiders predict these will be integral to the new face of retail, and that landlords considering a renovation need to pay attention if they want to survive. A surprising number also say there needs to be a sense of â&#x20AC;&#x153;magicâ&#x20AC;? â&#x20AC;&#x201C; an accurate if slightly whimsical way of indicating itâ&#x20AC;&#x2122;s no longer enough to simply slap on fresh paint and new tile. â&#x20AC;&#x153;You have to create an energy, a vibe thatâ&#x20AC;&#x2122;s different than what you can get from shopping on the Internet,â&#x20AC;? stressed Rick Amantea, Larco Developmentsâ&#x20AC;&#x2122; vice-president for Park Royal. Trendy or well-branded restaurants (such as Cactus Club or Milestones) with seating that spills out onto the concourses, lifestyle amenities like a Steve Nash Sport Club, plus a keen sense of demographic character and perceptions are just some of the methods Larco has successfully used to drive footsteps to this wellestablished West Vancouver shopping Mecca. â&#x20AC;&#x153;I like to say our number one fashion store [at Park Royal] is Whole Foods. They have a style and flair thatâ&#x20AC;&#x2122;s unique and, therefore, attracts a certain demographic. If you shop there, youâ&#x20AC;&#x2122;re probably very stylish â&#x20AC;&#x201C; which matches with our

High-density residential towers above retail â&#x20AC;&#x153;villageâ&#x20AC;? at Morgan Crossing, South Surrey.

high-end fashion retailers.â&#x20AC;?

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Park Royal Southâ&#x20AC;&#x2122;s upcoming 120,000-squarefoot expansion plans include two levels of parking and an extension of the engaging ambiance thatâ&#x20AC;&#x2122;s already captivated consumerâ&#x20AC;&#x2122;s hearts â&#x20AC;&#x201C; and shopping loyalty â&#x20AC;&#x201C; at both the Village at Park Royal and Morgan Crossing in South Surrey. A residential component, something consumers clamoured for but didnâ&#x20AC;&#x2122;t get in the Village at Park Royal is also under discussion though not yet confirmed. Eric Carlson, president and CEO ofAnthem Properties, believes the synergy and convenience of higher-density shopping centres that integrate residential with the traditional retail is an important trend, one that will increasingly define a quality mall renovation. â&#x20AC;&#x153;Thereâ&#x20AC;&#x2122;s a vitality and synergy when you can just grab your laptop, step outside your lobby door and be hanging out in a coffee shop in minutes. Todayâ&#x20AC;&#x2122;s living environments are

smaller â&#x20AC;&#x201C; my son lives in a 550-square-foot apartment â&#x20AC;&#x201C; so being able to be alone yet connected to a larger community is important.â&#x20AC;? This attention to human scale is at the heart of Anthemâ&#x20AC;&#x2122;s redevelopment of Station Square Mall near Metrotown in Burnaby. Working in partnership with the Beedie Group, Anthem plans an aggressive move to convert the original 100,000 square feet of traditional mall into a dynamic residential/retail mini-village with an appealing, contemporary edginess. â&#x20AC;&#x153;By nature, people want something new and different,â&#x20AC;? said Darren Kwiatkowski, executive vice-president at Shape Properties Corp. â&#x20AC;&#x153;If you arenâ&#x20AC;&#x2122;t updating and changing, you risk becoming irrelevant.â&#x20AC;? Shapeâ&#x20AC;&#x2122;s upcoming phased redevelopment and expansion of the 28-acre Brentwood Town Centre site will include both highrise and lowrise residential as well as office space in addition to public plazas and enhanced retail. â&#x20AC;&#x153;This renovation is not just about adding some towers to a mall; itâ&#x20AC;&#x2122;s about transforming

Recently completed, Morguardâ&#x20AC;&#x2122;s $400 millionplus makeover of the Uptown Mall in Victoria transformed a 1959 state-of-the-art (in its day) 18.75-acre mall into a chic retail hub with sophisticated fashion, restaurants, new office space and the potential for a future half-million square feet of residential.

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Still high on the mall renovation radar is IvanhoĂŠ Cambridge, with two significant projects: a $280 million expansion and redevelopment of Guildford Town Centre in Surrey plus a projected eight-to-10-year, billion-dollar-plus re-invention of Vancouverâ&#x20AC;&#x2122;s Oakridge Centre. Expected to complete by the end of 2013, Guildford Town Centreâ&#x20AC;&#x2122;s gross leasing area will increase from 980,000 to 1.2 million square feet, making it the largest regional shopping centre south of the Fraser River. The proj ect includes an updated, relocated Wal-Mart Supercentre and is anticipated to create 4,000 jobs during construction plus a minimum of 750 new, permanent retail jobs. Oakridgeâ&#x20AC;&#x2122;s transformation actually had the potential to begin in 2007 when the City of Vancouverâ&#x20AC;&#x2122;s council of that day approved a proposal to add 1.2 million square feet of condominiums to the existing 50,000 square feet built in the early 1980s. Although the addition never materialized (yet another victim of the economic

-PXFS .BJOMBOE

QUALITY ASSETS at BARGAIN PRICES!

LIGHT INDUSTRIAL LAND Light Industrial Land ,9.48 Acres, Ready to Build! Divisible down to 1-acre parcels. Price just reduced by 25%! Priced at $4.00/SF

RARE INEXPENSIVE COMMERCIAL PROPERTY Commercial land with ďŹ xer home in the heart of Historic Fairhaven. 4,000 SF lot. Priced to sell at $225,000.

EDUCE PRICE R c c c c

RETAIL/INDUSTRIAL COMPLEX

OFFICE/RETAIL BUILDING

Fully Leased Retail/Industrial Property $2,520,000 21,560 SF 7.0% Cap Rate Excellent Guide Meridian Location!

Well located in Bellingham. Includes small industrial space. Great Price! 8.0 CAP proforma. $455,000

Many other Whatcom County Opportunities. Call for complete list.

T R O Y M U L J AT

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A13

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

where they are or, possibly go even lower, due to the stability of the market and amount of capital chasing investment opportunities. Horton also predicted reductions in cap rates, although he said it will be more prevalent in urban markets.

crisis that defined the year 2008), the mall did continue its evolution from neighbourhood mall (one of the original Woodward’s Food Floors awas an anchor tenant) to destination shopping centre for the well-heeled urbanite. The newly revised redevelopment plan includes removing the mall’s dated movie theatre to make room for trendy new retail including a Crate & Barrel furniture shop; designing pedestrian-friendly walkways and fpublic spaces; and a residential component that could ultimately become home to more than 2,000 homeowners.

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Delegates to a recent NAIOP developer conferfence on retail trends heard a similar optimistic theme, as a panel of retail experts noted that both U.S. retailers and local companies are planning texpansion in Metro Vancouver this year. r The panel, chaired by Carlson of Anthem Properties, included Brian Kozak, senior vice-

Photo: Morguard

a1PXFS DFOUSFT EPOF “A mall renovation on its own doesn’t make financial sense,” said Gordon Wylie, Ivanhoé Cambridge’s senior director of development. “A change that repositions and rebrands the entire mall, it does make sense. Having the correct retail mix is the magic of a successful mall. New lighting fixtures and better, more pedestrian-friendly interior spaces won’t attract new shoppers any more than painting a house without renovating the kitchen will make it more saleable. But they will attract new tenants, and that new mix is what makes a vibrant centre – it’s the magic of a successful mall.” Wylie also firmly believes mixed-use, especially when combined with a residential factor, is “where we need to go. The Power Centre phenomenon is done because there are simply too many land constraints. We must develop existing land so it becomes more efficient.” But he’s also adamant that, in his view, shopping centres remain a solid investment. a “They aren’t high yield, but they are very stable – you could say they are the equivalent to bonds in the financial world. We have holdings in 24 countries and we see a bright future in the western region of Canada. We firmly believe in the potential of this marketplace.” f

-FBTF SBUFT

Uptown, Victoria: makeover of a 1960s-era mall includes 862,000 square feet of contemporary retail and office space with a residential mix.

president, Western Canada for First Capital Realty Inc., John Horton, president, Shape Properties and Scott Lee, principal/broker, Northwest Atlantic Brokerage. Generally, the feeling was that the economic story across Canada is still positive, with both retail tenants and landlords moving forward with their western Canadian projects. Lee said that the U.S.-based tenants he represents remain cautiously optimistic and continue with their growth plans in Canada, while Canadian retail tenants continue to consider expansion opportunities. Kozak noted that tenant defaults have been very rare in First Capital’s portfolio and that where they have occurred other tenants have taken up the vacant premises. When Blockbuster Video went bankrupt, 17 of the 20 vacancies that resulted were filled almost immediately, he said.

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Carlson asked the panelists to relate their experience with U.S.-based Target’s recent expansion into the Canadian market. Lee, whose firm acted as Target’s broker, said Target saw the Zellers stores as a unique opportunity to buy into a portfolio of good real estate and to use Canada as its first international expansion. Kozak noted that First Canadian wasn’t able to come to terms with Target, which had specific lease requirements, on all of its stores, but that Wal-Mart stepped into

many of the stores that Target did not take. Of the 17 Zellers in the First Capital portfolio, 13 were taken by Wal-Mart, two by Target and two remained as Zellers stores. U.S. tenants that are either currently opening stores or are planning to include Anne Taylor, Express, JC Penny, J. Crew, Kohls, Marshalls Dicks Sporting Goods, Nordstrom, Kate Spade and other higher-end fashion retailers, according to Lee. Canadian retailers face stiff competition, he cautioned.

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Carlson asked the panel to comment on how recent economic volatility has affected the amount of capital available. Kozak said that there has been no effect at all and that North American capital markets continue to provide a surplus of capital for real estate. Although Shape Properties relies on private equity (as opposed to First Capital, which is publicly traded), accessing capital has not been an issue, Horton said. Carlson noted that the de-leveraging of corporate and bank balance sheets in 2008 and 2009 was short lived in Canada, and that with an abundance of capital available for real estate the bigger issue has become finding opportunities.

Carlson asked if landlords can expect to get higher rents in the absence of renovating or re-positioning their centre. Lee noted that anchor tenants cannot be expected to agree to pay more, despite evidence of landlords incurring higher land, servicing, construction and approval costs, and that landlords will have to look to other tenants to make up the difference. Responding to a question about the bigger obstacles to development, Horton said that municipal approval requirements continue to be set at higher levels, with officials looking for more in terms of landscaping, design, store fronts, etc., all of which adds to development costs. Kozak noted that each market presents different challenges. In Vancouver, it’s land prices and availability, he said, pointing to a recent listing of a one-acre parcel on Lonsdale in North Vancouver for $19 million. In Calgary, the issue is obtaining zoning approval and in Edmonton, which he described as the “wild west,” it’s just trying to keep up.

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Carlson noted that parking is a significant retail issue, with underground parking stalls costing $30,000 to $50,000 per stall to develop and construct, and that retailers (particularly anchor tenants) must recognize that their standard parking-stall ratios will not be available. Lee said that many U.S. retailers are not used to the concept of “vertical” retail, coming from markets where the traditional development scheme is sprawling, suburban, big-box centres. However, many are recognizing that they will have to catch up to the reality of retail under residential, not just in Vancouver but in other major markets in Canada and the United States, he said.◆ $BQJUBMJ[BUJPO SBUFT Retail capitalization rates are now at near– With a report from James Speakman of record lows and Kozak’s view is they will stay Clark Wilson LLP

-PXFS .BJOMBOE LD O S

353 WATER ST.

LD O S

EW N

LD O S

620 SEYMOUR ST.

LD O S

678 E. HASTINGS ST.

21 WATER ST. - THE PACKING HOUSE • SIX STOREY PLUS LOWER LEVEL, COMMERCIAL OFFICE AND RETAIL BUILDING • PROMINENT CORNER GASTOWN LOCATION AT WATER AND CARRALL ST. • CHARACTER INVESTMENT PROPERTY IN GASTOWN • LOT SIZE: 13,647 SF (APPROX) • ZONING: HA - 2 LIST PRICE: PLEASE CONTACT THE EXCLUSIVE LISTING AGENT

1-15 W. CORDOVA ST.

R ICE

33 W. PENDER ST. Development (3 CRU'S)

611 POWELL ST.

LD O S

• FREESTANDING LIGHT INDUSTRIAL BUILDING • OWNER OCCUPIER / POTENTIAL INVESTMENT OPPORTUNITY • MAIN LEVEL PLUS BASEMENT STRUCTURE • EXCELLENT VISIBILITY ON POWELL ST. • LOT SIZE: 6,100 SF (APPROX) • ZONING: DEOD LIST PRICE: $1,550,000

350, 356 & 360 CARRALL ST. • EXCELLENT GASTOWN RETAIL UNITS • PRIME OWNER OCCUPIER/INVESTMENT OPPORTUNITIES • NEWLY RE-DEVELOPED MIXED-USE BUILDING • LARGE RETAIL DISPLAY WINDOWS • UNIT SIZE: APPROX 863.27 SF TO 1,808.34 SF (AS PER STRATA PLAN) • ZONING: HA - 2 LIST PRICE: PLEASE CONTACT THE LISTING AGENT

LD O S

U ED

57 E CORDOVA ST. • PREMIER GASTOWN MAIN LEVEL LIVE/WORK UNIT • EXCELLENT STREET FRONTAGE AND VISIBILITY • CHARACTER SPACE WITH BRICK AND BEAM • OVERSIZED WINDOWS FOR AMPLE NATURAL LIGHT • UNIT SIZE: 1,726.53 SF (APPROX) • ZONING: HA - 2 (HISTORIC GASTOWN AREA)

LIST PRICE:

$888,000

ROBERT THAM s MARC SAUL s Corbel Commercial Inc. www.corbelcommercial.com U Tel: 604.609.0882 U Fax: 604.609.0886 U Info@corbelcommercial.com E. & O. E.: All information contained herein is from sources we deem reliable, and we have no reason to doubt its accuracy; however, no guarantee or responsibility is assumed thereof, and it shall not form any part of future contracts. Properties are submitted subject to errors and omissions and all information should be carefully veriﬁed. All measurements quoted herein are approximate.

A14 Lower Mainland COMMERCIAL BUILDING Very well maintained building Fraser Valley, 6 cap. Only $1,350,000 COMMERCIAL INVESTMENTS Vancouver; hotel; shopping centre site townhouse dev. site; mixed use commercial building/residential; New West; 120+ townhouse dev.site, Port Moody: strip mall, Langley; Motel; serv. station/con. Store; townhouse dev. site, Surrey: Central City comm’l. dev site, et. Langley; 1 Acre Ind. Rare $920K Serious buyers looking for quality properties invited to call. Non-disclosure agreement to sign.

RAY LEWIS West Coast Realty LANGLEY

604-812-9733

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

MOTEL 30 rooms well established, good location, building in excellent condition $1,165,000 PLASTIC MFG. - Vancouver 30 yrs. in business. Good repeat business. Owner retiring and very motivated. Offered for $300,000 GAS STATION, building land equipment included, all updated 3.5 ac land 5 legal lots $1,188,000 RESTAURANT, 27 years in business. Building, land and equipment included $800,000 MANUFACTURE of high-bedding (pillows, duvets, cushions). Offered for $250,000 Please call

RICHARD PODGURSKI

RE/MAX Masters Realty

Cell: 604-961-5665 richard@expertrealty.ca www.expertrealty.ca

MISSION

ABBOTSFORD

38.31 ACRES

EXECUTIVE HOME 1.56 ACRES

s .OT IN !,2 s #ITY WATER s ROAD FRONTAGE s 'REAT RENTAL POTENTIAL s :ONING 25 s ,ARGE HOME RENTED s 3EVERAL BARNS $3,000,000

s !LL SERVICES SEWER GAS WATER s #USTOM BUILT s 4ERRIlC VIEW s BEDROOM LEGAL SUITE s ,ARGE DOUBLE GARAGE $900,000 MLS® F1122536

C A L L T O D AY F O R V I E W I N G

ADRIAN GAGNER 604-466-5077 or 604-751-3766

Franchise Opportunity

WAREHOUSES

Blenz Master Franchise in Vancouver, Vancouver Island, Ontario & Alberta Blenz Franchises ........$139,900, $179K - $488,800

FOR SALE 4.7 acres with 88,000 sq ft New Tilt-up warehouse UÊ i ÜÊÀi« >Vi i ÌÊV ÃÌÊÊUÊ-ÌÀ>Ì>ÊÕ ÌÃÊv ÀÊÃ> i

Steamrollers Franchise Vancouver.$319K (Davie St.) Steamrollers Franchises Opp. SOLD

FOR LEASE

Wired Monk Individual Franchise Opportunity Wired Monk ......................................... $99K, $169K,

7>Ài ÕÃiÊ > ÊÃ âiÃÊÃÌ>ÀÌ }Ê>ÃÊ ÜÊ>ÃÊ f{°xäÊÃµÊvÌÊ iÌÊÀi Ì°

Wired Monk New Franchises - Vancouver ................................ $262K-$350K depending on location Sandwich Tree master franchise opportunity $235K

JOHN KLASSEN BILL BARTLEMAN Cell# 604-309-7632 Cell# 604-857-3409 or 604-859-2341 endwest2@uniserve.com #9 2630 Bourquin W.Abbotsford

Oak Realty

Casa Del Sole Café ...............................................$175,000

www.matthewmoadebi.com www.vancouverfranchise.ca

Matthew Moadebi 604-329-6771 (Cell) m.m7430@gmail.com

METRO VANCOUVER

LANGLEY DEVELOPMENT SITE Located in the heart of the Willoughby Community in Langley, the combined properties have 23.84 acres of gross land, having a permitted max. density of approx. 1,270,000 sq.ft. and up to 20 storey’s. Strategically serviced by the new Golden Ears Bridge and a new Port Mann Bridge to Vancouver (open in fall of 2012). This area of Langley along 200th Street has experienced an increase in the development of amenities such as business parks, retail, schools, and recreational facilities, including the 100 million dollar Langley Events

Canadian Based Real Estate Firm Seeking Qualiﬁed Investors For US Real Estate Offering Returns of 8-12%, Fully Secured.

Please Call 604-596-9933

Centre. For more details and info regarding the new OCP please visit:

www.mapleslangley.com or contact: Dean Lapointe or Paul Prade at 1-800-655-4553 or 604-437-1123

deanlapointevancouver@gmail.com or prade@shaw.ca

Westburn Realty

RESTAURANT BUSINESS

C H I L L I WA C K , B C Rare opportunity! First time offered, owners retiring after 22 years!

This 120+ seat restaurant is truly one of Chilliwack's most respected & renowned family dining destinations. Iconic visual exposure in the heart of town w/ no franchise fees. Well established w/reasonable lease rate makes this turn-key operation perfect for a family-run venture or the budding entrepreneur.

Bring your ideas & dreams and call Janet Kirkpatrick today for details.

JANET KIRKPATRICK Toll Free: Tel: Fax:

1-800-830-7175 604-858-7179 604 858 7197

RE/MAX NYDA REALTY

To Exhibit: Call 604.677.8203

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

Lower Mainland A15

A16

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

COVER Powerhouse Calgary landlord awes analysts and gears for aggressive push into B.C. and the U.S.A

6Q PO .BJOTUSFFU FRANK O’BRIEN WESTERN INVESTOR op Toronto stock analysts are discovering what western Canadian rental tenants and investors have known for years: street-wise Mainstreet Equity Corp. is a dominant player in Canada’s rental apartment market. Recently, the Calgary-based landlord has grabbed one-third of the apartment market in Surrey and is mounting a U.S. invasion.

Mainstreet went public (MEQ/TSX) in 1998 with 200 apartment units. It now has more than 7,000 apartments and it is the fourth-bestperforming real estate company in Canada, only lagging InterRent REIT, Canmarc REIT and Morguard Corp., according to analysts from Canaccord Genuity, Dundee Capital Markets, TD Newcrest and GMP Securities. Mainstreet has a simple formula: it buys older apartment buildings, mostly walk-ups, at below replacement value, fixes up the property, raises the rent and adds long-term value to the building. Mainstreet just does it on a bigger and smarter scale than most anyone else. It is credited with turning whole neighbourhoods around, such as in Edmonton’s northern downtown where it upgraded some 70 old rental buildings. Recent appraisals show Mainstreet’s portfolio is valued at $911 million, with a 5.6 per cent capitalization rate. Trading at press time around $22 per share, (it was at $14.75 at the end of 2010) projections are that Mainstreet shares will top $26 shortly as it pursues an aggressive acquisition and value-added strategy. When it released results for 2011, Mainstreet confirmed it had bought $120 million of rental apartments over the past 18 months in Ontario, Alberta, Saskatchewan and B.C. “It is important to note that Mainstreet

Photo: Kevin Udahl

Bob Dhillon, president and CEO: “the real estate cycle in Western Canada hasn’t even started yet; the commodity price cycle hasn’t started yet.”

achieved this growth without any equity dilution. Instead, it funded this organic growth through refinancing matured mortgages and financing properties after stabilization,” said Bob Dhillon, Mainstreet’s chief executive and largest shareholder. Dhillon is quick to distance Mainstreet from its bigger competitors, real estate investment trusts (REITs), which pay out most income in dividends, he explained, while Mainstreet adds value through acquisitions and improvements.

#VZ SBUJOH

Mainstreet closed 2011 with a per-building net operating income (NOI) increase of 11 per cent. Its portfolio’s vacancy rate fell from 14.1 per cent in 2010 to 8.1 per cent as of December 2011. This is particularly impressive, since about 16 per cent of Mainstreet apartments were still under renovations. Said Canaccord analyst Shant Poladian: “We are maintaining our buy rating as Mainstreet continues to offer attraction valuation and significant cash flow upside poten-

-PXFS .BJOMBOE

PLEASE FORWARD ALL ENQUIRIES TO:

Abraham Sayson 604 662 3000 | abraham.sayson@cbre.com

tial.” Dhillon’s secret to success includes the use of Canada Mortgage and Housing Corp. (CMHC)-insured mortgages; going long-term on loans; “staying hungry” for acquisitions and expanding into Saskatoon and B.C.’s suburban Lower Mainland. Dhillon said Mainstreet now controls 30 per cent of the apartment building mid-market in both Surrey and Abbotsford and has locked up about 10 per cent of mid-range Saskatoon’s rentals. He started his career buying foreclosed Calgary apartment buildings when he was barely out of his teens, sometimes sleeping in his car in front of the CMHC offices where foreclosed properties could be bought on a first-come, first-serve basis. “I still do the purchase of every building, the debt market and the capital market,” Dhillon said. “When we buy a building, we set up a budget on the capex [capital expenditures] and we set the market rents for after the renovations.” Dhillon dismisses fears of exposure on Mainstreet’s $476 million debt if mortgage rates should suddenly jump. The company has

locked in all its loans for 10 years with interest rates as low as 2.9 per cent to 3.5 per cent, con sidered six-decade lows. “Take in the inflation rate and the interest is free,” he said. Known for its concentration on Alberta and Saskatchewan, Mainstreet is now focused on Metro Vancouver’s suburbs, and sees Surrey and Abbotsford as the trump plays. Surrey has the lowest apartment unit count per capita in Canada, Dhillon explained, and Abbotsford also has a low supply of apartments, yet both have strong economies, growing in-migration and relatively low prices for apartment blocks. He also likes Abbotsford because the rental vacancy rate is fairly high, at around 6 per cent. “You should be investing when the apartment vacancy rate is high,” Dhillon said , because that is when the prices are lower. Japan-born Dhillon – a self-styled “street rat” who grew up as a Sikh in Calgary and Vancouver – is convinced that, due to foreign buyers, house prices in Vancouver will continue to soar, which will force working-class families into the Fraser Valley to rent the apart ments that Mainstreet specializes in. “Canada [real estate] is cheap,” he said. “We don’t realize how cheap it is. Unless we change our immigration laws, the average person will never be able to afford to buy in [the City of] Vancouver,” he said, “Canada is the best country in the world and people want to move here.” Dhillon believes resource-rich Western Canada is on a straight-up trajectory. “The real estate cycle in Western Canada hasn’t even started yet; the commodity price cycle hasn’t started yet,” Dhillon said, forecasting that oil will rise to $200 per barrel. Despite its tight apartment market, Dhillon won’t buy in Winnipeg, where he describes the rent-controlled environment as “communist.” Mainstreet will soon be breaking its western Canadian mould with a plan to launch into the United States, Dhillon confirmed. “I would be crazy not to attack the U.S. market; the only question is how to attack. But it will be significant. When we go into a geographical area in the U.S., we will be a dominant player.”◆

A17

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

FEATURE Apartment market still robust, but some developers see seniors as the future of multi-family

5IF HSFZ UTVOBNJ WESTERN INVESTOR etro Vancouverâ&#x20AC;&#x2122;s apartment rental market remains white-hot, but developers remain cautious on building any new units.

The result: compressing capitalization rates, higher â&#x20AC;&#x153;per doorâ&#x20AC;? prices, tighter vacancy rates and more condominiums ending up on the rental market. , Some developers, however, are looking to a demographic shift as a way of leveraging t new home construction by getting in front of what one realtor calls â&#x20AC;&#x153;the grey tsunami.â&#x20AC;? Investors, meanwhile, eye the super-low mortgage rates available and figure apartment rental buildings remain a strong play, even with cap rates in record-low territory. According to a study by HQ Realty Ltd., Vancouver, capitalization rates on Metro apartment buildings range from as low as 3 per cent on top buildings in the best locations to a stilllow 5.25 per cent for C-class properties. So why are investors so keen on rentals? â&#x20AC;&#x153;Multi-family has the distinction of being the only real estate asset class that trades well below replacement cost, often at a 40 per cent discount,â&#x20AC;? explains Douglas Goodman, an apartment specialist with HQ Realty. Shrewd investors, he said, grasp this concept only too well and perceive this market anomaly as a golden opportunity to take rents to where they â&#x20AC;&#x153;should be and logically have to go.â&#x20AC;?

-PX NPSUHBHFT

Clearly, one of the main attractions to apartment buildings is the low mortgage financing offered through Canada Mortgage and Housing Corp. (CMHC) insurance. This allows lenders to provide investor financing ranging from approximately 2.3 per cent on five-year mortgages and as low as 3 per cent

on 10-year mortgages. When one considers that the average rental apartment suite has increased in value by nearly 10 per cent in the last year alone, it is easy to understand how attractive the low rates appear. In Vancouver last year, the average price of a rental apartment increased to $228,741, a 7 per cent increase from 2010â&#x20AC;&#x2122;s $214,339 figure, while suburban prices at $149,583 were up 11 per cent compared with $135,223 in 2010. The aggregate for all buildings for 2011 was $176,977 per suite, up 9 per cent from 2010â&#x20AC;&#x2122;s average $162,767. Smaller domestic apartment building investors, however, are finding themselves outbid and out-hustled by both offshore and institutional investors, according to Goodman, who has sold Vancouver apartment buildings to both Chinabased buyers and real estate investment trusts.

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Some developers, however, see building condominiums and rentals for B.C.â&#x20AC;&#x2122;s rapidly aging population as a way to compete in todayâ&#x20AC;&#x2122;s competitive rental market and strata sector. In a new report, the Conference Board of Canada predicts that by 2030 about 80 per cent of new housing demand will be consumers in their golden years. It will bring a new wave of demand for homes that are very low maintenance, like condominiums or seniorsâ&#x20AC;&#x2122; residences, the board forecasts. In 2006, 57 per cent of condo owners were over the age of 50 while 17 per cent were over the age of 75. Also, about 25 per cent of Metro seniors are renters, one of the largest ratios in the country. â&#x20AC;&#x153;The point is not just retirement homes. The trend as we look ahead is more and more to multiple-family dwellings,â&#x20AC;? said Pedro Antunes, director and analysis at the conference board and one of the reportâ&#x20AC;&#x2122;s authors.

Photo: Coldwell Bankers

WI STAFF

$.)$ SFQPSU PO .FUSP SFOUBM NBSLFU

The Maples in Langley: concept for large retirement complex with housing andâ&#x20AC;&#x153;high-streetâ&#x20AC;? retail.

An example of a development aiming at seniors is the Maples proposal in Langley, where land has been assembled for a large retirement complex, according to Dean LaPointe, senior VP, business development, at Coldwell Banker, Westburn Realty in Burnaby. The Maples project, now in the planning and design stage, covers 23.8 acres and has been approved by Langley Township for a density of about 127,000 square feet of mixed-use residential and retail. The concept is clearly aimed at seniors, and for good reason. â&#x20AC;&#x153;Metro Vancouver is facing a grey tsunami,â&#x20AC;? LaPointe said, pointing to estimates that from now until to 2021 the number of adults age 55 or over in the region will rise from approximately 300,000 to 500,000 persons. The allowed density would give a developer the possibility to build up to a maximum of 20 storeys, LaPointe said. And, while the specific zoning is for â&#x20AC;&#x153;high-density multi-family residential/commercial/institutional seniors permitted,â&#x20AC;? a developer could request a change in the official community pan, LaPointe noted. He believes, however, that the potential in the near-retirement and retirement market is so attractive that the eventual development will remain close to the â&#x20AC;&#x153;aging in placeâ&#x20AC;? concept. The concept is that a senior could purchase

s 4HE RENTAL APARTMENT VACANCY RATE FOR 6ANCOUVER #-! EDGED DOWN TO PER CENT IN FROM PER CENT A YEAR EARLIER s 7HILE EMPLOYMENT GROWTH HAS MODERATED STEADY MIGRATION CONTINUES TO THE REGION AND RENTALS REMAIN A COST EFFICIENT HOUSING OPTION COMPARED WITH HOME OWNERSHIP s 4HE RENTAL CONDOMINIUM VACANCY RATE DROPPED SHARPLY TO PER CENT IN FROM PER CENT IN s !VERAGE CONDO RENTS ARE TO PER CENT HIGHER THAN THE AVERAGE PURPOSE BUILT APARTMENT RENT IN COMPARED WITH APPROXIMATELY PER CENT IN s )N THE DOWNTOWN CORE CONDO RENTS WERE NEARLY PER CENT HIGHER THAN RENTAL APARTMENTS s 4HE AVERAGE RATE OF RENT INCREASE BETWEEN AND WAS PER CENT SIMILAR TO THE RATE OF INFLATION s Vancouver City VACANCIES DROPPED PER CENT IN FROM PER CENT IN

or rent a home at the Maples and then, as he or she becomes older and more in need of personal attention, could locate to a part of the complex geared toward medical care. He added, however, that no official agreement is in place with Fraser Valley Health authorities to provide medical facilities at the Maples site. The proposed development is the Willoughby neighborhood and adjacent to a local recreation centre. â&#x20AC;&#x153;Much of the land will be preserved as creek setbacks, greenways, walking trails and amenities such as community gardens,â&#x20AC;? according to the marketing material. Right now the only tangibles are a brochure, renderings of what could be built and land priced at over $1 million per acre. The smallest of five lots being offered at the Maple is a 1.98-acre site listed at $3.25 million.â&#x2014;&#x2020;

-PXFS .BJOMBOE SPECIALIZING IN COMMERCIAL INVESTMENT SALES FOR OVER 23 YEARS WE HAVE BUYERS FOR YOUR PROPERTY "BUY-SELL-DEAL WITH SUCCESS"

Chinatown Investment Prop 416 Main Street

Growth potential in emerging area. High exposure & foot trafďŹ c. Established tenant Asking $1,200,000

Restaurant For Sale D SOL

Coppertank Grill 3835 Main St Newer restaurant, sports bar, 96 Seats, live music venue. Long term lease. Asking $289,000

Strategic Investment ING IST L NEW

Lonsdale Ave, North Van. Income property, 4 stores, underground parking Asking $4,150,000

High Traffic Retail Location 4363 Main St (at 27th) D SOL Prime investment opp. Ext. renovations. New 5 year lease to experienced bakery. Large 3 bdrm suite. Asking $1,680,000

c @GA9 !0#1 *-! 2#" *-,% 2&# 1* ," '%&5 7 c Â&#x201E;nL <G; !0#1 -$ "#4#*-. *# * ," 0# c '27 -$ , '+-U1 13..-021 2&# $-!31 -$ +#"'3+ 2- &'%& "#,1'27 0#1'"#,2' *I +'6#" 31#

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138 East Pender D SOL

Excellent Chinatown location. Previous bank building. Ready for design renovation. Asking $1,400,000

For more details: Success Realty & Insurance Ltd.

JORDAN ENG (604) 728-0883 jordaneng@telus.net

A18 Lower Mainland

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

FOR SALE

CROSSTOWN / GASTOWN

INDUSTRIAL PROPERTY

â&#x20AC;&#x153;MULTIPLE PROPERTIESâ&#x20AC;? FOR SALE / LEASE

SUBLEASE DOWNTOWN VANCOUVER Assembly use, 2700SF, Negotiable

S E Y M O U R R E S T A U R A N T For Sale 2400SF .............................................................. $480,000 WEST 4TH AVE RESTAURANTFor Sale, 2000SF .......................................................................$460,000 WEST 4TH AVE RESTAURANT For Sale 1800SF .......................................................................$250,000 SECHELT DEVELOPMENT .............. $2,700,000 DEVELOPMENT SITES Vancouver/Victoria /Surrey For Sale - Call for more information LASER AND ESTHETICS BUSINESS For Sale Great Revenue, minimal management $120,000 S U B L E A S E 3400 S F 61 W E S T 7 T H AV E ......................................$11.25/sf plus opera ting CAULFEILD SHOPPING CENTRE RESTAURANT .....................................$410,000

Alex Yuen 604-338-1800

Alex Yuen PREC Macdonald Realty Ltd.

Delta BC - 11955 95A Ave 11680 sf Building on 21,961 sf Property Automotive, Retail, Restaurant, OďŹ&#x192;ce and Caretakers Suite I-1 Zoning.

r 'VMMZ 3FOPWBUFE )FSJUBHF *ODPNF 1SPQFSUJFT r 3BQJE (SPXUI /FJHICPVSIPPE r 8FMM 4JUVBUFE m 8PPEXBSE T Í 5JOTFMUPXO Í 4'6 Í 7BODPVWFS 'JMN 4DIPPM

$1,699,000

r *ODSFBTJOH 1SPQFSUZ 7BMVFT

AUTOMOTIVE PARTS business for sale $400,000

r -BOE 4J[F Y Y r 3FOUBCMF "SFB TG _ TG

$"-- S T E V E N

604-729-7108

ADL:G B6>CA6C9 H=DEE>C< 8:CIG: ;DG H6A: $9 MILLION. A>FJDG HIDG: >C 9:AI6 H=DEE>C< 8:CIG: ;DG H6A: $1.59 MILLION. &*!&'. H#;# G:I6>A D;;>8: 7J>A9>C< >C 9:AI6 ;DG H6A: $5.5 MILLION. A6C<A:N 76@:GN ;DG H6A: $119,000. $400k PER YEAR SALES. IH6LL6HH:C =6>G H6ADC ;DG H6A: $40K. A6C<A:N 76@:GN ;DG H6A: $119,000 $400k ADD@>C< ;DG HE68: ;DG/ School, 5000 â&#x20AC;&#x201C; 8000 sq. ft. (major centres) Produce/Butcher 5000 sq. ft. QSRâ&#x20AC;&#x2122;s 900 â&#x20AC;&#x201C; 1200 sq. ft Restaurant 1500 â&#x20AC;&#x201C; 3000 sq. ft..

Michael Anderson

604.374.1171 b^X]VZa5cdgi]Zgck^h^dcgZVain#Xdb

lll#cdgi]Zgck^h^dcgZVain#Xdb

RECREATION 1250 ACRES FOR SALE SUNSHINE VALLEY, B.C. 2 HOURS FROM VANCOUVER Multiple housing opportunities / revenue streams

$18,000,000 Some ďŹ nancing available Currently 10 Lakeside Lots from $150,000. Developer ďŹ nancing

Contact David Bull at Sutton Westcoast Realty 604.802.7454 / 604.599.3861

LORNE CHERNOCHAN 604-880-0550 (cell) lorne@chernochan.com www.chernochan.com CALL OR EMAIL FOR A FULL INFO. SET RICHMOND ACREAGE INVESTMENT $125,000 per acre FOR THE 36 ACRES!! $1,250,000 each FOR THE 2.5 ACRE PARCELS!! 3 adjoining parcels = 41 acres. 2 STREETS FRONTAGE = 777 feet Current rental income NOW $6,980,000 FOR ALL 3 !! ***************************************************************

INDUSTRIAL STRATA FOR SALE EAST RICHMOND $388,000 1,997 sf = 1,227 sf warehouse with GRADE load + 750 sf ground ďŹ&#x201A;oor ofďŹ ces with separate entrance. Newer building in on high exposure street ***************************************************************

HOUSE ON SUBDIVIDABLE LAND Zoned for 2 lots in Richmond Some offsites done Current income = $26,000 +/year $1,000,000

WESTCOAST

Marketing commercial real estate in Western Canada. In Print. On Line. MARCH ISSUE: AD DEADLINE FEBRUARY 13 Report: Industrial Real Estate Urban renewal projects Investing 101: Joint ventures Franchise News Lifestyle Properties

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A19

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

FEATURE B.C. business owners can take advantage of rebates before controversial tax is pulled next year

)45 TNBSUT

impact his decision about whether to make a purchase or not. WESTERN INVESTOR Loren believes that this could be a mistake for Zalko and any other small-business owner ho says business owners can’t who is registered to collect the HST. have their cake and eat it, too? #VZ OPX Small-business owners, such as restau- Were Zalko to buy a $10,000 exercise machine rateurs, hair stylists and gym owners, who before Victoria transitions back to the PST-GST opposed the 12 per cent harmonized sales tax system, he will pay $10,000 plus a 12 per cent (HST) because it forced them to charge cus- tax of $1,200. tomers more tax than under the previous proHe is then eligible to deduct $1,200 from the vincial sales tax (PST) system, can have it both HST that he charges his customers to work out ways. in his gym and then remits toCanada Revenue They can look forward to a system some Agency (CRA). time early in 2013 when they can once again If Zalko waits to buy equipment until the have lower effective prices by simply charg- PST-GST transition has completed, he will still ing customers the 5 per cent federal goods and pay 12 per cent in tax (7 per cent PST plus 5 services tax (GST). per cent GST). For those involved in commercial real estate, The difference is that he would only be able however, the tax strategy is more challenging. to deduct the GST, or $500, from the 5 per cent Until the tax is nixed, advisers say, some GST that he charges his fitness enthusiasts and businesses should take advantage of the current then remits to CRA. HST by stocking up on office supplies; renoHis saving, therefore, by buying the equipvating office space; and buying equipment. ment sooner than later, is $700. Investing in those things as soon as posThe key thing here is that Zalko is both regsible will help them reap a 7 per cent savings, istered to collect the HST and he actually does said Gabrielle Loren, who is a partner at the collect the tax from his customers. chartered accounting firm Loren, Nancke and Insurance salespeople, for example, do not Co. qualify for these savings on capital purchases “Don’t wait until the last minute because because they do not charge customers the HST we don’t officially know exactly when the when they sell products. change to the PST-GST system will happen,” Entrepreneurs who do collect the HST, howshe said. ever, can reap savings if they buy necessary Vocal HST opponent Ron Zalko is one of equipment and tools that are central to their many small-business owners who are over- business; worth a total of at least $500 per joyed that British Columbians voted 54.73 per transaction; and are products that will last at cent to eliminate the controversial levy and least one year. who has a difficult time seeing anything good “In my business we use a lot of calculators,” about the controversial 12 per cent tax. said Loren, a chartered accountant who forIn early September Zalko said that he bought merly worked in Canada Revenue Agency’s gym equipment before the HST was enacted audit divison. and has not bought much since. She said that if she buys $501 (plus $60.12 He is considering potential new equipment HST) worth of calculators, staplers and other purchases but is not going to let tax changes small office tools all at once, it is likely that GLEN KORSTROM/WI STAFF

lord are taxed at 12 per cent. Most landlords will cheer the end of the HST, according to the Residential Owners and Managers Association of BC, because the tax increased average costs higher than the annual allowable rent increase, which is 4.3 per cent fo r 2012. Commercial sales and leasing: Commercial sales and leases are not materially impacted by the HST. The 12 per cent HST applies on commercial sales and leases just as the 5 per cent GST Businesspeople have one year to come up with ways to save did, and input tax credits money under the harmonized sales tax. are available to tenants and Canada Revenue Agency will accept that the purchasers for the full amount paid. purchase was central to her business and there- However, commercial tenants could renovate fore allow her to deduct $60.12 from the HST their premises now and qualify for a rebate on that she charges her customers and remits to the HST taxes paid. Real Estate commissions: Commissions are CRA. “Being in business is never easy. So, make not subject to HST in the same manner as they sure you familiarize yourself with the rules were under the GST. Commercial vendors are applicable to your business under the current able to claim input tax credits on HST paid to HST system and keep up to date on news about agents, while individuals selling personal use the future of the PST-GST system,” Loren said. property will not. “It is also a good idea to consult an accountant The big concern with the ending of the HST directly.” among residential developers is the lack of certainty around the transition back to a property )45 BOE SFBM FTUBUF purchase tax. Unlike B.C.’s residential real estate market, Ward McAllister, president of Ledingham where the HST is charged on new property McAllister Properties, said developers have sales, commercial real estate has a more com- been “literally begging” the provincial govplicated relationship with harmonized taxa- ernment for transitional rules since the vote to tion. repeal the HST. Apartment buildings: Residential landlords “What is amazing to me is that it took the saw increased costs under the HST, since some government three days to bring this new tax in goods and (especially) services that were not and now they are telling us it is going to take subject to the PST and necessary in the opera- up to 18 months to unravel,” said McAllister. tion of apartment buildings are taxed under the “This is really hurting us in the new home busiHST. ness just because of the uncertainty.” Landlords are not able to claim input tax McAllister said some home builders are credits for HST paid and do not collect HST taking on a portion, or even all, of the HST to from tenants. Expenses such as maintenance, try and remove that uncertainty for potential electricity and other services required by land- buyers.◆

-PXFS .BJOMBOE

Individual Units For Sale West Lynden Storage Condominiums Strata Units 4 miles (6.4 km) from the Canadian Border!

PUBS

For Sal e

SOUTH OKANAGAN PUB Liquor Store and Building for sale Asking $1,450,000

Intoductory Price Starting at $65,000 Store your RV with Slide-Outs Extended! manufacturer's recommendation for long-term storage

Storage condominium complex perfect for your RV, Boat or General Storage. Sizes starting at 16'x45' going up to 1,777 square feet. Units feature a 12'x14' overhead door, 60 amp panel for each unit, power metered separately, natural gas heater, and units are fully insulated and dry walled. The 47 unit complex features 2 bathrooms, RV dump site and prep area, fully fenced with remote controlled gate for security, and 24 hour access.

Waterfront Pub & Detached Liquor Store Land, buildings and business Prince Rupert, BC $2,500,000 BC’s fastest growing super port city

LOWER MAINLAND Pub & Liquor Store

Opportunities For Lower Mainland Pub Opportunities call:

2305 Leatherwood Dr. – Lynden, WA 98264 Don Munro 604-817-7338

B.C. Residents – Ask us about WA State vehicle licensing

Dick Vandenberg 360-393-2414

JOHN JOHNSON Tel: 604-319-2504 Fax: 604-463-5287 PRUDENTIAL STERLING REALTY LTD.

JOHN JOHNSON

A20 Lower Mainland !BBOTSFORD s 6ACANT 2372 Townline Road Footprint 26,900 sq. ft. Land â&#x20AC;&#x201C; 1.36 Acres Mezzanine about 19,300 sq.ft.

CHILLIWACK AVIATION PARK UNITS FOR SALE/RENT

Overhead Clearances: s SQ FT AT FT s SQ FT AT FT MEZZANINE s SQ FT AT FT ABOUT SQ FT IS INSULATED

CALL NOW 1-800-661-6988

SQ FT OF OFlCE AND STAFF FACILITIES Three rooftop coolers

0RICE MILLION Phone 604 214 2957

Warehouse for Sale

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

FOR INFORMATION CALL: 604-793-5938

BUY IN CHILLIWACK. NOW IS THE TIME.

www.westerninvestor.com

NEED NOW !!! $5 - $15 million Shopping Centres

Auto Recycler Business 44290 Yale Road West

7870 Enterprise Way

Excellent Hwy Exposure. 4 Bay plus Live in Suite, Zoned M2. Land approx. 19,166 sqft., Building approx. 7,976 sqft. Each bay has separate entrance, large overhead doors. Perfect Investment Building in Growing Area.

Just Collect the Rent!!! Building approx. 5 years old, 12,566 sqft Building, 31,279 sqft Lot. Busy industrial area of Chilliwack close to the new Eagle Landing and Hwy exposure. Well maintained. PRICED TO SELL! HARD TO FIND PROPERTY!!!

$1,120,000 MLSÂŽ H3100320

$2,125,000 Exclusive Listing

Gold class certiďŹ ed ................Auto recyclers for sale here is the opportunity to own one of the fastest growing in the greater lower mainland. very rare and hard to ďŹ nd a well established turn key auto recyclers that been in business for over 25 years ! Time has come to retire ! Large inventory of high end salvage and a customer data base of over 3000 customers you will recieve all inventory building,racking property with a 49 year lease and 3 acres of land. $2,200,000 Exclusive Listing

45955 & 45961 Yale Rd.

45787 Yale Road

Cross Country Grocery

Body Building 11,992 sq.ft. Land 1.001 Acres GREAT FOR CAR LOT! 5 Bays, Showroom, ofďŹ ces, Great Exposure with lots of parking in this area of town. So much potential with this property, to many to list. The lots are zoned CS1(Service Commercial). Call Lindsey for additional info 604-798-2977 $1,850,000 Exclusive Listing

Perfect for your building supply, glass company, or retail business. Building is over 12,000 sq.ft. and has new siding, new windows, and a new elevator. Downstairs is 6,147 sq.ft. and has a large showroom, ofďŹ ces, and upstairs has 4 leased tenants in ofďŹ ces. Parking on a fenced .935 acre lot. This property was appraised at 2.2 million. Vendor is a motivated Seller. $1,750,000 MLSÂŽ H3100328

Building and Land includes 2 Businesses. Store is excellent for mom and pop or family operation, well established clientele, very clean business. Business includes Grocery Store, Gym, Tanning and bare lot. 2 titles to the property, and the business! Awesome Deal! Call for Complete Details, and package.

Car Dealers! Car Dealership Location!

$599,000 MLSÂŽ H3100373

REDUCED

MLSÂŽ H3100324

Lease Space Available $18-$19.50

Pantry - The Pantry in Chilliwack

Dakotas â&#x20AC;&#x201C; Approx. 4 years old

16,640 sq.ft. Strip Mall on the busiest street in Chilliwack - completely renovated w/ new addition & faĂ§ade. Excellent trafďŹ c count, great exposure & visibility from road. 78 surface parking stalls w/ mall access from Yale Road. Available for lease $18-$19.50 per sq.ft., 5,866 & 5,802 & 1553 sq.ft. Able to make smaller units if requested. Building & Property also for Sale. Building can be stratiďŹ ed â&#x20AC;&#x201C; sold in 1 or 3 units. Sale Price: $3,950,000

A proďŹ table franchise restaurant. Priced right for net income. Banquet room seats 230, conference room holds 50 seats, restaurant has 120 seats and 60 patio seats. All interested parties must be approved by franchise.

Going Concern in busy Shopping Center with Safeway, Liquor Store, HSBC, & Envision Bank. This Restaurant is gorgeous! 5,605 leasable space. Includes all chattels. Over $800,000 in tenant improvements. If you are looking for a restaurant this has EXCELLENT VALUE. Good customer base, asset sale only, you would never be able to build this restaurant for anywhere near this price. $199,000

$99,000 Exclusive Listing

8424 Aitken Road

44703 Yale Rd/44698 Chalmer Place

1.58 Acres of M2 zoned property, best suited for industry and industrial sales activity. House already on the property which is perfect for a rental income or ofďŹ ce for your business. Prime area with lots of room to build. Possibilities are endless with this property with road frontage, rail spur, and located in town.

Rare ďŹ nd!!! 14.685 Acres of undeveloped land, next to the railway tracks. Good access to Trans Canada Highway #1. The zoning is currently M4 (Heavy Industrial Zoning) - allows for Warehousing, Heavy Industrial, Storage & much more. Municipal water & sanitary services are at the road, ďŹ&#x201A; exible zoning. Strong development activity around Highway 1 Business Park, Progress Way Business Park and Cattermole Industrial Estates.

$1,250,000

$3,600,000 Exclusive Listing

1.66 acres in 2 titles, zoned M2 (Service Industrial) in absolutely prime location. Highway 1 exposure, access of Yale Rd. or Chalmer Place (cul-de-sac). Set in the heart of the Industrial area with easy access to the City and national transportation routes. Zoning allows for wide variety of uses including warehousing, light manufacturing, food processing, sales, and more. Offered at a highly competitive price of approx. $25 per sq.ft. THIS IS A GREAT DEAL! $1,799,900 MLSÂŽ H3100190

8989 Charles Street

Lindsey Gauthier Personal Real Estate Corp.

GauthierTeam.com

showplace realty ltd

A21

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

FEATURE Downturn looming in Metro Vancouver? Commercial builders apparently missed that memo

$POTUSVDUJPO EPMMBST KVNQ Vancouver in 2011, offers a positive outlook for 2012.â&#x20AC;? WESTERN INVESTOR Last year, commercial building investment spending was $434.5 million, compared with chorus of analysts calling for an $541.2 million in 2010. Industrial building economic downturn in Metro investment spending climbed, however, by 7.8 Vancouver is being drowned out by per cent to $30.2 million. the tattoo of hammers as building permits roar off, perhaps into a record year. "CCPUTGPSE The Bank of Montreal, the TD Bank and A B.C. hot spot continues to be Abbotsford, the Conference Board of Canada are among where commercial construction, mostly new those cautioning that the Vancouver region will retail projects, is leading the pace. see a dip in everything from consumer confiTotal non-residential building construction dence to real estate investment in 2012. investment spending in Abbotsford rose 18.8 Construction spending in the Lower per cent to $52.5 million (seasonally adjusted) Mainland, however, posted its fourth annual in the fourth quarter of 2011, compared with gain last year with a 7 per cent surge from a $44.2 million in the third quarter. This was year earlier, Statistics Canada reports, and this led by a 19.8 per cent increase in commercial year is shaping up as even stronger. construction to $37.4 million. Institutionalâ&#x20AC;&#x153;The non-residential investment turn- government spending was up 21.4 per cent to around in 2011 is a positive sign,â&#x20AC;? said Keith $10.8 million. Industrial building investment Sashaw, president of the Vancouver Regional rose 5.5 per cent to $4.3 million from $4.1 milConstruction Association (VRCA). lion in the previous quarter. â&#x20AC;&#x153;All three building sectors posted gains in As the large Mt. Lehman highway inter2011, with institutional-government spending change project winds down, the pace may up for a second year in a row, and commercial slow. â&#x20AC;&#x153;The 2012 outlook is however still and industrial posting their first annual gain in positive,â&#x20AC;?Sashaw said. two and five years, respectively.â&#x20AC;? Metro Vancouver saw total non-residential #JH QSPKFDUT investment spending in the region rise to $2.7 Large construction projects that will be underbillion in 2011 compared with $2.6 billion a way this year include: year earlier. â&#x20AC;˘ the Evergreen Line, a $1 billion-plus rapid â&#x20AC;&#x153;The fourth-quarter decline is viewed as transit project that now has a short list of bidtemporary, as we saw a large rise in November ders, with technical and financial submissions building permits, and we expect the fourth- from the three contenders expected by this quarter permits to come in higher than the April. Construction could begin this summer, third,â&#x20AC;? said Sashaw. with completion expected by 2016; â&#x20AC;&#x153;This, combined with improving market â&#x20AC;˘ Metrotower III in Burnaby, a $170 million conditions in Vancouver commercial real office tower by developer IvanhoĂŠ Cambridge, estate and general economic growth in Metro which is scheduled for completion in April WI STAFF

Photo: Telus

The $750 million Telus Garden complex has started site preparation in downtown Vancouver. Total Metro building permits are running at around $40 million a month.

2014. The general contractor for the 29-storey tower is Ledcor General Contractors; â&#x20AC;˘ PCI Developments Corp. is forging ahead with its mixed-use mega-project at Marine Drive and Cambie Street in south Vancouver. Cineplex Entertainment will spend $10 million to build an 11-screen multiplex that will anchor the Marine Gateway development. PCIâ&#x20AC;&#x2122;s 820,000-square-foot development on a two-hectare footprint is expected to complete by 2015; â&#x20AC;˘ Guildford Town Centre, which is owned and managed by IvanhoĂŠ Cambridge, has launched a $280 million expansion and redevelopment project. When construction work is completed at the end of next year, the gross leasing area will have increased to 1.2 million square feet; â&#x20AC;˘ the Tsawwassen First Nation, with two private developers, has approved a 1.8-millionsquare-foot retail complex in South Delta that will be the biggest shopping centre in B.C. Site work could start this year, since municipal approval is not required; â&#x20AC;˘ Telusâ&#x20AC;&#x2122; $750 million office and residential complex named Telus Garden â&#x20AC;&#x201C; a 22-storey office complex and 44-storey residential tower â&#x20AC;&#x201C; will gear up construction with completion set for 2015 in downtown Vancouver; â&#x20AC;˘ Oxford Properties Ltd. is building a $150

million, 35-storey office tower in downtown Vancouver. Work is underway with an opening in 2014; â&#x20AC;˘ BC Investment Management Corp. is building a 400,000-square-foot office tower on Vancouverâ&#x20AC;&#x2122;s Thurlow Street; and â&#x20AC;˘ in Abbotsford, Shape Properties is completing the 600,000-square-foot Walmartanchored High Street shopping centre, expected to open in the spring of 2013. Institutional projects include the $3.3 billion Highway 1/Port Mann Bridge project; Fraser Healthâ&#x20AC;&#x2122;s new Jim Pattison Outpatient and Surgery Centre; and the new RCMP E-division headquarters in Surrey. The construction upturn has even raised fears of a lack of construction workers. Approximately 130,000 people were employed in the Metro Vancouver construction sector in late 2008 before the global economic downturn took hold. That fell to 100,000 in January 2010, but has since jumped to around 136,800. â&#x20AC;&#x153;Our members are already experiencing skill shortages for mid-management levels,â&#x20AC;? said Sashaw, â&#x20AC;&#x153;Thatâ&#x20AC;&#x2122;s site superintendents, project managers and estimators. Companies are already beginning to look further afield for those positions.â&#x20AC;?â&#x2014;&#x2020;

-PXFS .BJOMBOE

Distribution Warehouse

-0/( 5&3. */7&45.&/5 '03 4"-& This property is located in the Fraser Valley and has 2 Triple â&#x20AC;&#x153;Aâ&#x20AC;? National Tenants on Long Term Lease. The Main tenant is a Farm Equipment Dealership and the 2nd is a Mini Storage Co. Both have been there for the past few years and planning to stay there for a long time.

5P WJFX $BMM 3BF 'PSFTU

Located at Duke Point near Nanaimo this 35000 sq. ft. warehouse is ideally situated for distribution of goods to Island locations. Just 5 years old this building has 22 ft. ceilings, ďŹ ve loading bays, 1800 sq. ft. of ofďŹ ce space as well as a 3 bedroom caretaker suite. Now available for sale at $3.9 million or for lease at $7 NNN.

Corney Les

OCEAN VIEW RESTAURANT FOR SALE IN WEST VANCOUVER 100 SEATS INSIDE + 100 SEAT PATIO Well established,fully licensed. Good lease,owner retiring after 33 years. Asking price $450,000 For more information call CELL 604-880-5461 OFFICE 604-435-9477 e-mail dnivolianitis@sutton.com

Fraser Valley Mobile Home Parks s 42 pad MHP ON ACRES WITH 26 PARKING SITES AND HOME ON CITY SERVICES IN -APLE 2IDGE !SKING PRICE $4,000,000 0RESENT CAP RATE OF APPROX WITH UPSIDE TO s 31 pad MHP ON ACRES WITH HOMES 26 PARKING $1.295M SOLD Alberta Mobile Home Park Great cash ďŹ&#x201A;ow s PAD -(0 AND 26 SITES ON ACRES s !SKING 0RICE $6,200,000 WITH CAP RATE OF WITH LOTS OF UPSIDE TO INCREASE Lougheed Hwy Deroche â&#x20AC;&#x201C; Commercial Building %8#%,,%.4 (79 %80/352% !CRE CORNER LOT (IGHWAY FRONTAGE ZONED #OMMERCIAL S F METAL CLAD BUILDING WITH LARGE BAY DOORS AND HIGH CEILINGS PLUS SMALL MEZZANINE 02)#%$ 4/ 3%,, !SKING $295,000

604-795-6938

RE/MAX Corney Les Realty www.morechilliwackrealestate.com

Other Mobile Home Parks coming up in Lower Mainland and Alberta on City services. Call to get on the wait list for information.

Bill Summers Direct Line:

604-626-8894

Email: bsummers@telus.net

A22 Sea to Sky/Sunshine Coast Region TWO COMMERCIAL BUILDINGS SIDE X SIDE ML#V4021517 â&#x20AC;&#x153;The Dockâ&#x20AC;? Sechelt Now $1,295,000 Main street, downtown location with excellent exposure in Sechelt. 2 level building with retail, store, offices and zoned for residential above. High traffic area with lots of parking. 10 tenancies in place, many long term and great cap rate. Call Terry for more info.

ML#V4024655 Main Street, Sechelt

$879,000

Commercial building with two excellent tenants. Prime location on main street with upgrades & high visual presents. Triple net leases & good cap. Located beside building above.

marketing your franchise? Call Christine at the

TERRY & PAM BRA CKETT 1-800-895-4313 terry@thebrackettgroup.com Remax Oceanview Realty SECHELT

1-800-661-6988 (604) 608-5110 ccampbell@biv.com

Contact Drew Meredith for further information, 604-932-7734, drewm@wrec.com www.whistlercommercial.com

FOR SALE - FUNCTION, WHISTLER 4,957 sq.ft, 6 tenant spaces, substantial common area inc/ lunch room, board room & washrooms with excellent parking. Listed at: 1,295,000

FOR SALE/LEASE - PEMBERTON Ground ďŹ&#x201A;oor, prime retail space. 6,785 sq.ft. on the main street into Pemberton, with underground and surface parking. Listed at: $1,950,000

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

SQUAMISH INVESTMENTS 98 Unit Oceanfront Development Site $2.94 mil

New Strata Office Space Dwtn Lease space available

$170k +

13.25 acre Commercial Site on Hwy 99 Holding income campground/motel $2.5 mil

Industrial Revenue Property

$1.1 mil

18,919 SF Dev Site Dwtn Bank Corner at key intersection $1.194 mil Pub and Real Estate 4,000 sf on Â˝ acre, 163 seats

$699k

10 acre Riverfront Lots

$1.175 mil +

Retail for Lease off Hwy 99 1,300-10,000 SF Adjacent to Home Depot, Walmart & Rona Commercial Site on Hwy 99 $1.65 mil C-3 gateway site: DP for 82 unit hotel, Zoning for: drive-thru, gas, restaurant

Darren McCartney 604-892-4875 darren.mc@shaw.ca

RE/MAX Sea to Sky Real Estate Squamish

Do you have a VOJRVF QSPQFSUZ Advertise your listings in our special feature:

COMMERCIAL SPACE AVAILABLE FOR SALE / LEASE 1005 Alpha Lake Rd, Function Junction â&#x20AC;&#x201C; Investment Properties ranging between 1,666-1820 sq.ft. starting from $299,000

1SPQFSUJFT

7327 Industrial Way, Pemberton Industrial Park â&#x20AC;&#x201C; Commercial / Industrial units totaling 6,723 sq.ft. Listed at $1,200,000

Keep up-to-date with the market. Please visit www.whistlercommercial.com to receive new listings for sale/lease via email and never miss an opportunity.

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â&#x20AC;˘ Limited spaces â&#x20AC;˘ 4-colour ads â&#x20AC;˘ Special rates Recreational Real Estate LIFESTYLE PROPERTIES

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erhaps the strongest evidence of a recovery in the Kootenay recreational market is the sale of ranchsized acreages at the exclusive Ranches at Elk Park just outside of Radium Hot Springs. Prices range to nearly $3 million â&#x20AC;&#x201C; and that is just for the land. â&#x20AC;&#x153;We have sold two lots and we have holds on two others,â&#x20AC;? said Rudy Nielsen, founder and president of Niho Land & Cattle Company, which is marketing the ranches through its subsidiary LandQuest Realty. Prices roam from $9,000 per acre for small parcels to around $2,100 per acre for 400-acre and larger ranches. The 3,500 acres at Elk Park, a gated ranch community and perhaps the only one in B.C., are divided into 16 ranches, from 36 acres to 480 acres. The two lots that sold â&#x20AC;&#x201C; one to a retired Edmonton oil executive â&#x20AC;&#x201C; are both in the 100acre size, as are the two with pending sales. The Ranches at Elk Park are what Nielsen calls a â&#x20AC;&#x153;rare collectionâ&#x20AC;? of recreational private estate properties. The ranches are framed by Kootenay National Park and the Columbia Valley and prices range from $390,000 to $2.95 million for 200 plus acres with a lake. â&#x20AC;&#x153;This is a very exclusive opportunity,â&#x20AC;? said Nielsen, 70, B.C.â&#x20AC;&#x2122;s most prolific land dealer. In the last 40 years, heâ&#x20AC;&#x2122;s put together thousands of successful real estate deals, involving tens of thousands of acres, from small plots to ocean islands, to entire town sites and huge farms

Ranches at Elk Park: 200 acres with a private lake listed for $2.95 million.

and ranches. â&#x20AC;&#x153;Thereâ&#x20AC;&#x2122;s nothing else like this in British Columbia. South of the border, in places like Montana, similar ranch-style communities are far less pristine and their prices are much steeper.â&#x20AC;? Calgary-based Schickedanz West, the owner of the Ranches project, is adding a comprehensive amenity centre outside the access point with fitness facilities and a private ownersâ&#x20AC;&#x2122; lounge, Nielsen said. He credited owner Fred Schickedanz for having the vision and patience to create â&#x20AC;&#x153;one of the best recreational ranch developments I have seen in a long time.â&#x20AC;? Nielsen said buyers are a mix of permanent residents and seasonal owners who plan to

ARIZONA Investment Property For Sale

FOR SALE - On Bird River, MB

eventually retire to the property. They share an common appreciation of nature, outdoor adventure, horse-back riding, hobby ranching and getting away from it all, â&#x20AC;&#x153;without going too far or spending too much.â&#x20AC;? Some of the ranches are lakefront, others have valley views and all have the security and privacy only big money can buy: there is only one access road and it is protected by a controlled locked main gate.

"MCFSUBOT

The success of Elk Park is likely cheered by other land and recreational vendors in the Kootenays, especially since it heralds the return of Alberta investors. In 2007, Albertans were big in the Kootenay

area, grabbing more than 2,000 residential properties and more than 600 plots of vacant land, with the Columbia Valley figuring large. With the BC/Alberta border so close to Calgary, the Kootenays were a natural lure. Then the oilfueled global economy stalled and Albertans went quiet; in 2010 Albertan purchases were off by more than 70 percent or 756 sales o f residential properties. However, with the global economy swinging back and oil now north of US$100 a barrel Nielsen expects a resurgence of Alberta buyers into the Kootenays. â&#x20AC;&#x153;Our sales team says the number and quality of calls coming out of Alberta has increased substantially, compared to anytime from mid2008 to late 2010, â&#x20AC;&#x153; Nielsen said. A recent survey by the Royal Bank forecasts Alberta will lead the entire country in economic growth this year and next, and likely into the next decade. One telling stat: the average weekly wage in Alberta is $1,036 a week, almost one-third higher than the rest of Canada. And Albertans traditionally look to B.C. for recreational property. â&#x20AC;&#x153;You can golf, ski, and catch a large rainbow trout, all in one day in the Kootenays,â&#x20AC;? Nielsen said. He notes that the ski hills of Panorama Ridge near Invermere and the amenities o f Fairmont Hot Springs are close by Elk Park, with almost two-dozen golf courses within a 30-minute drive. Nielsen said The Ranches will attract a select type of buyer. â&#x20AC;&#x153;The price range is for individuals with a pioneering spirit ready to embrace a rare opportunity to own their own private ranch right at the foot of the Rocky Mountains.â&#x20AC;?â&#x2014;&#x2020;

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Average Sales Price per Square Foot

Sold Price: $61,500 Rent: $925 City: Avondale 9EAR "UILT Square Feet: 1,197

Sold Price: $62,000 Rent: $895 City: Avondale 9EAR "UILT Square Feet: 1,255

Sold Price: $64,000 Rent: $850 City: El Mirage 9EAR "UILT Square Feet: 1,495

s 3TAMPED CONCRETE BOAT LAUNCH s FEET PRIVATE BOAT DOCK s 26 PARKING s #OVERED HOT TUB DECK

Virtual tour at www.6565-rockwell.ca

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Why Harrison?

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Gerri SaundersĂ&#x160;JĂ&#x160;(250) 632-2107Ă&#x160;Â&#x153;Ă&#x20AC;Ă&#x160;(250) 632-6638

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Sold Price: $52,00 Rent: $825 City: Phoenix 9EAR "UILT Square Feet: 1,343

REALTY (02) LTD.

Overwhelming Views

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Here are twelve of the homes weâ&#x20AC;&#x2122;ve sold over the past few months which are all within a 30 minute drive from downtown Phoenix. We even offer property management for our clients.

Sold Price: $51,900 Rent: $850 City: Tolleson 9EAR "UILT Square Feet: 1,423

OfďŹ ce: 604-888-0786 Email: annabelyoung@shaw.ca

Nestled against Southwestern British Columbiaâ&#x20AC;&#x2122;s magniďŹ cent mountains and the sandy beaches of Harrison Lake, Harrison Village is your local destination ďŹ lled with a rich history and natural wonders, including our world famous BC Hot Springs. Known for its leisurely days and friendly ways, offering nature, art, entertainment shopping and food.

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ANNABEL YOUNG Cell: 604-961-7541

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FOR SALE AUTOMOTIVE PARTS STORE KITIMAT, B.C.

Acquire Realty is family owned and operated with over 30 years of Real Estate experience. Contact us for Foreclosure or Short Sale Listings in Phoenix, Scottsdale, Fountain Hills, Surprise, 'OODYEAR AND 3URROUNDING !REAS 7E WOULD LOVE TO HELP YOU ďŹ nd your vacation home or investment property.

Phoenix Area

- Exquisite property features the best of the West Coast - Water Front -1.84 acres of high water front - Custom designed house infused with southern light - Spectacular views of the Gulf Islands - Live year round or have a weekend retreat and haven - MLSÂŽ F1118274 $1,075,000

Approximately 80 minutes northeast of Winnipeg on the Bird River. This classic lodge is world famous for trophy bear and deer hunting. Located 1/4 mile from a Department of Transportation certified airport runway. Suitable for church camp, corporate retreat, training centre or private retreat. Commercial kitchen. Games room, sauna & conference room. Thirteen bedrooms, sleeps 27 plus master bedroom & ensuite. Approx. 6900 sq. ft. on +/-2 acres. Asking $1.85M.

INFO !CQUIRE!: COM s 7EST -C$OWELL 2D "LDG # Ste. 305 Avondale, AZ 85323

Address

Recreational Real Estate LIFESTYLE PROPERTIES

www.westerninvestor.com WESTERN INVESTOR

3BODI TJ[F TBMFT DIFFS WFOEPST

ACQUIRE REALTY 623-853-7765 Toll &REE s WWW !CQUIRE!: COM

â?? Three years .......$105

www.westerninvestor.com WESTERN INVESTOR

RECREATION FEATURE Wealthy investors corral exclusive acreages at Ranches at Elk Park in Kootenays

Photo: LandQuest

A range of commercial spaces are available to lease throughout Whistler Village and Function Junction. Base rent starting at $12 per sq.ft.

Sold Price: $64,000 Rent: $785 #ITY "UCKEYE 9EAR "UILT Square Feet: 1,574

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Avondale - Crystal Gardens Lake Community Newly remodeled home, 1870 square feet, 3 bedrooms plus den, 2 baths, prime location near shopping and freeway access, would make for a great vacation home or could rent for $1000-$1075 as an investment property.

For Sale: $112,500

Sold Price: $64,125 Rent: $850 City: Phoenix 9EAR "UILT Square Feet: 1,435

Sold Price: $69,000 Rent: $825 City: Phoenix 9EAR "UILT Square Feet: 1,343

Sold Price: $87,000 Rent: $995 City: Laveen 9EAR "UILT Square Feet: 1,763

Sold Price: $105,000 Rent: $1,150 City: Goodyear 9EAR "UILT Square Feet: 2,277

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FAX BACK TO 604-669-2154 OR CALL 1-800-661-6988 604-669-8500 1-800-661-6988

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advertise@westerninvestor.com

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Vancouver Island A23

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

Last year, housing sales in Kitimat more than doubled to 214 properties and the total dollar volume hit $29.8 million, up from $13.8 million in 2010, according to the BC Northern Real Estate Board. This makes it the hottest market across the north, where overall sales last year were up about 5 per cent from a year earlier. â&#x20AC;&#x153;At least 40 per cent of [my buyers] are from out of town,â&#x20AC;? said Re/Max Kitimat residential real estate agent Shannon Dos he British Columbia economy ranks Santos, adding that â&#x20AC;&#x153;we are running out of fifth in Canada but it is number one in environmental quality and health services, listings.â&#x20AC;? She said buyers are coming from as far away as West Vancouver and Fort according to the latest and last study by McMurray. the BC Progress Board. The board said the average price of a B.C., however, trails all other western provdetached house in Kitimat was $146,000 at inces in job growth and is ranked seventh in the end of last year, down from $170,600 Canada for employment, the report found. two years earlier. But Dos Santos and other The study states that the provinceâ&#x20AC;&#x2122;s employKitimat agents say average prices have already ment rate in 2011 was at least four percentage points lower than the top two provinces, increased in the first few weeks of 2012. â&#x20AC;&#x153;If a well-priced property comes on the Alberta and Saskatchewan. Compared with 10 years ago, B.C.â&#x20AC;&#x2122;s economy market, it will sell in a couple of days,â&#x20AC;? Dos Santos said. has fallen from fourth place to fifth, the Kitimatâ&#x20AC;&#x2122;s traditional double-digit residential board said. The rankings drop reflects better performance in other provinces, not necessar- rental vacancy rate has dropped to the 7 per cent range, agents estimate, but they say no ily a B.C. decline. apartment buildings are currently for sale. In 2010-11, B.C. ranked fourth in interprovincial migration, with a net inflow of less than 200 persons, its lowest level since 2004. The report is the progress boardâ&#x20AC;&#x2122;s 11th and final study tracking B.C.â&#x20AC;&#x2122;s economic and social progress. 8)"5Â¤4 )"11&/*/( */

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B.C. economy dips to 5th in Canada

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Safeway sells Burnaby site

anada Safeway Ltd.â&#x20AC;&#x2122;s former distribution complex in Burnaby now belongs to Ledingham McAllister. The Vancouver developer acquired the 48-acre site from Safeway on December 15 for approximately $125 million. eal estate speculators are apparently Bidding closed at the start of July, and targeting Kitimat, the B.C. northern Ledingham McAllister emerged successful port city that would be the western termiafter a short due diligence process. nus of the proposed $6.6 billion Northern Safeway will lease back the dairy plant Gateway pipeline. The town is also near a new $4.2 billion liquefied natural gas plant it continues to operate on six acres of the property pending the plantâ&#x20AC;&#x2122;s relocation. and terminal that is expected to come on Ledingham McAllister president and CEO Ward stream next year. McAllister said work with Burnaby planning Meanwhile, Alcan Inc. is proceeding staff will begin soon to develop a comprewith a multimillion-dollar expansion of its Kitimat smelter. The activity has ramped up hensive community consultation regarding real estate sales in the town, where average the site. He expects that process to last 12 to house prices had fallen at least 15 per cent 18 months, with no construction occurring before 2014. from 2009.

Speculators target Kitimat

Photo: Enbridge Inc.

Map shows proposed Northern Gateway pipeline path across Alberta and B.C.

hat are expected to be heated hearings opened last month as the federal government weighs a decision to allow the proposed Northern Gateway pipeline project to proceed. The twin pipeline would carry up to 525,000 barrels of oil per day from the Alberta oilsands to a deep-sea oil tanker port at Kitimat, and 193,000 barrels of condensate â&#x20AC;&#x201C; a thinning material â&#x20AC;&#x201C; back to Alberta. The $6.6 billion, 1,177-kilometre pipeline is worth an estimated $72 billion to oilsands producers, according to report from the Alberta government. Public hearings into the proposal began January 10 in Kitimat and more than 4,200 people representing about 200 organizations had signed up to speak. The hearings will continue in 24 communities across B.C. and Alberta and are expected to take two years to complete. There is both strong opposition and serious financial support for the pipeline. In aNational Energy Board report prior to the hearings, it was revealed that Calgary-based Enbridge Inc., the pipelineâ&#x20AC;&#x2122;s developer, is being backed by industry giants includingSuncor Energy Inc., Nexen Inc., Cenovus Energy Inc. and MEC Energy Inc. Backers also include China-owned energy company Sinopec. Groups arrayed against the pipeline include local native bands and domestic and international environmental groups. Most argue that the pipeline and tanker traffic represent a hazard to marine life and B.C.â&#x20AC;&#x2122;s fishing industry. The B.C.-basedLiving Ocean Society notes that the pipeline will require 220 supertankers every year, each carrying two million barrels of oil. This, the society says, is eight times more than the Exxon Valdez oil tanker, which struck a reef in the same waters in 1989. A number of First Nation bands along the mainland pipeline route, and in Haida Gwaii, have voiced opposition to the plan. Enbridge, however, notes that nearly two-dozen First Nation groups have signed up as equity partners. According to the company, such groups will be offered a 10 per cent share in the pipeline that would equate to more than $280 million over the next 30 years, plus preferential hiring during construction. Safeway marketed the property with concept plans showing up to seven towers and a variety of mid-rise properties on a site. â&#x20AC;&#x153;That bears no resemblance or relationship to anything that weâ&#x20AC;&#x2122;re either envisioning or would come out of a planning process,â&#x20AC;? McAllister said. â&#x20AC;&#x153;This is going to be a very consultive, inclusive, responsible process

thatâ&#x20AC;&#x2122;s going to take a long time.â&#x20AC;? McAllister noted that the purchase price reflected its prime position in the heart of Edmonds, with transit and highway infrastructure, retail space and a new community centre and library all close by. â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s a hell of a site,â&#x20AC;? he said. â&#x20AC;&#x153;Everythingâ&#x20AC;&#x2122;s there.â&#x20AC;?â&#x2014;&#x2020; â&#x20AC;&#x201C; Peter Mitham/BIV

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A24 Vancouver Island

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

16 Unit

#1 Market, Asset Sale, Ucluelet BC UÊ } ÊÌÀ>vwÊVÊ V>Ì °Ê6 `i ]ÊL> }]ÊÃ«iV > ÌÞÊ«À `ÕVÌÃ° UÊ-i«>À>ÌiÊ vwÊViÊEÊv `ÊÃ>viÊ ÌV i Êv ÀÊL> }ÊÃ `Ê ÊÃÌ Ài° UÊ Û> >L iÊ i>ÃiÊÃ«>Vi]ÊÃÕ Ì>L iÊv ÀÊÀiÃÌ>ÕÀ> Ì]Ê vwÊViÊ ÀÊÀiÌ> °

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BUYING, SELLING OR LEASING COMMERCIAL PROPERTY IN GREATER VICTORIA? Jack Barker

Peter Crichton

Dennis Fimrite

Ana Kraft

Rick Pettinger

Eric Spurling

Garry Barsalou

Amanda Crowder

Wayne Garner

Mike Lagadyn

Kevin Pirie

Anne Tanner

Les Bjola

Jack Davis

Robert Garry

Robert Law

Kyle Porter

Peter Tanner

Jerry Bola

Des Dennis

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Doug Ledding

Gail Reaney

Tim Taylor

John Bruce

Fidele Di Salvo

Rodney Henderson

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Bill Robson

Jean Thorndycraft

David Brumby

Komal Dodd

Bev Highton

Ross Marshall

Jim Russell

Clive Townley

Fraser Campbell

Jim Donaldson

Randy Holt

John McVie

Stephen Shea

Dave Vogel

Dan Chilton

Grant Evans

Robert Hunter

Jason Middleton

Dale Sheppard

Ed Williams

Bill Chudyk

Ken Featherby

Jason Kahl

Ron Neal

Ed Sing

Robert Young

Brenda Ferguson

Bill Knowles

Glenn Nicholls

Graham Smith

RE/MAX Camosun Peninsula Devon Properties Ltd. Turner Lane Real Estate Svcs Pemberton Holmes Ltd. DFH Real Estate Ltd. NAI Commercial (Victoria) Royal Lepage Coast Capital Coldwell Banker Slegg Realty Royal Lepage Coast Capital

DFH Real Estate Ltd.

Firm Management Corp.

DTZ Barnicke Victoria Ltd. Davis Realty Corporation DFH Real Estate Ltd.

NAI Commercial (Victoria)

Jonesco Real Estate Inc.

Burr Properties Ltd.

Pemberton Holmes Ltd.

Colliers Macaulay Nicolls

Equitex Realty Ltd.

NAI Commercial (Victoria) Sutton Group West Coast Rlty Fair Realty

NAI Commercial (Victoria)

Burr Properties Ltd.

DTZ Barnicke Victoria Ltd.

NAI Commercial (Victoria) DTZ Barnicke Victoria Ltd.

Colliers Macaulay Nicolls NAI Commercial (Victoria) Sutton Group West Coast Rlty

DTZ Barnicke Victoria Ltd. Royal LePage Coast Capital

Devon Properties Ltd.

Cornerstone Properties Ltd.

Kahl Realty Inc.

RE/MAX Alliance

DFH Real Estate Ltd.

Pemberton Holmes Ltd.

DTZ Barnicke Victoria Ltd. NAI Commercial (Victoria) NAI Commercial (Victoria) Colliers Macaulay Nicolls Pemberton Holmes Ltd. Royal LePage Coast Capital Pemberton Holmes Ltd. RE/MAX Camosun Westshore RE/MAX Camosun

Proline Management Ltd. DTZ Barnicke Victoria Ltd. Firm Management Corp. NAI Commercial (Victoria) Pemberton Holmes Ltd. Pemberton Holmes Ltd. Access Realty Ltd. 'LYHUVL¿HG 3URSHUWLHV /WG Brown Bros Agencies Ltd.

Fair Realty

Victoria area commercial REALTORS® have the knowledge and expertise you need. 250-385-7766 www.vreb.org/commercial

DONE DEALS New! Done Deals editorial feature will highlight deal ﬂow in Western Canada.

Show the market what is moving and who is moving it. The monthly report will highlight major (basically 50K square feet or more; or land deals of $2 million or more) commercial real estate transactions that have closed within the last 30-45 days in Western Canada. FRANK O'BRIEN Editor

Please send us the following information: • What was sold or leased?

• Who was the vendor (if possible)? • Who was the buyer/tenant? • If the name of the buyer is conﬁdential, please tell what type of buyer

(i.e., REIT, institutional, local investor, foreign investor, owner/builder)

• Who was the listing agent/agency? • What was the selling price?

Please forward this information directly to: Frank O’Brien, Western Investor Editor at wieditor@biv.com. www.westerninvestor.com 1-800-661-6988

WESTERN INVESTOR FEBRUARY 2012

Vancouver Island/Business Opportunities A25

Business Is Better On Vancouver Island For Sale

Mobile Home Park

F OR SALE Duncan BC

• Turn Key Operation • Fully Equipped 3000 sq./ft

30 mins from Greater Victoria

2.05 Acre Prime Development Site - North Nanaimo

32 sites 5 acres +/Net $145,000 Price: $2.4M

$2,900,000

On Old Island Highway adjacent to Long Lake.

Light Industrial Land and Buildings - Chemainus

$1,995,000

3.83 acres with 5 buildings on site.

253 Acre Development Property - Sproat Lake Area

$1,700,000

Commercial Land and Building - Parksville

$1,495,000

0.85 acre with 3,870 sq ft building on Island Highway.

3.79 Acre Light Industrial Land - South Nanaimo

$1,395,000

Suitable for single or multiple users/uses and subdividable.

Strata Commercial Unit - Central Nanaimo

$ 849,000

4,417 sq ft office with 12 offices, boardroom, reception and lunchroom.

Commercial Development Property - Nanaimo

$ 795,000

1.2 acres with CC-1 zoning beside Nanaimo Parkway.

Commercial Re-Development Property - Downtown Nanaimo

$ 695,000

2 legal lots on Victoria Crescent with 4,900 sq ft building.

Lakefront Pub and Land - Lake Cowichan

674,000

Approximately $300,000 spent on improvements since February 2009.

Commercial Property - Alberni Highway

$ 590,000

1.11 acres with exceptional highway frontage.

Residential Development Property - Nanaimo

$ 549,000

4.88 acres near the Nanaimo Parkway.

3.46 Acre Light Industrial Property - South Nanaimo

$ 549,000

Court Ordered Sale - Waterfront Restaurant, Land, Building

$ 470,000

MACHINE SHOP FOR SALE Vancouver Island

Great location.

Centrally located in the industrial area of Campbell River within a 5-min. drive to all suppliers, carriers and the downtown core. Building lease includes a 5 Ton Overhead Crane. Owner will consider financing.

Take control! $285,000.00

Contact owner at email:

talltimbermhp@live.com

SELL Selling your business? Western Investor Business Opportunity pages are organized geographically so readers can find the opportunity they want.

In Maple Bay. Includes self-contained 1,604 sq ft suite.

Gary Wessel - Daytime 250-286-1175 Evening 250-337-8950 www.crindustrialmachine.com

VANCOUVER ISLAND Comox Valley UÊ , / É" É /Ê 1-/, ÊÊ SPACES FOR LEASE fÈ°ääÊqÊ£{°ääÉÃµÊvÌ UÊ £]ÓääÊ-+Ê /Ê£n¿Ê ÊÊ°°°°°°°°°° f£{ ] ää UÊ /Ê 1-/, Ê-/, / ÊÊ ³É £xääÊ-+Ê / Over 20' ceilings 2 full storeys allowed. .................. fÓÇ{] ää UÊÊ ÎÎääÊ³Ê-+Ê /Ê Ê "1,/ 9ÊÊÊ ÊRetail/Ofﬁce/Warehouse (Strata)Ê°fÎÓx]äää UÊ Ê+1 /9Ê-/, / Ê" ÊÊ ÊÓ]{ääÊÃµÊvÌÊ ........................................................ fx ] ää UÊ°Ç£Ê Ê "7Ê, - Ê */Ê- / Ê°°°°°°°°fnxä]äää UÊ Î]äääÊ-+Ê /Ê, / Ê 1 Ê On ½ ac, Courtenay ..............was f Óx]äääÊ ........................................... now fÇ ]äääÊ

Rob Samsom

Commercial Land and Building on Island Highway - Campbell River

$ 450,000

Vacant 0.92 acre property.

Commercial Property Zoned COR-3 - Nanaimo

$ 325,000

1-800-661-6988

AACI CCIM FRI PERSONAL REAL ESTATE CORPORATION

1-888-829-7205 www.robsamsom.ca

RE/MAX Ocean Pacific Realty

2 lots on Kerrisdale Road totaling 19,600 sq ft.

Character Office Building - Nanaimo

$ 279,000

ED HANDJA PERSONAL REAL ESTATE CORP. and SHELLEY MCKAY

950 sq ft, high traffic area. Corner lot, 4,050 sq ft, zoned DT-8.

Hangar Building and Office - Campbell River Regional Airport

$ 289,000

Commercial Property Zoned COR-3 - Nanaimo

$ 260,000

Your BC

9,800 sq ft lot with 1,037 sq ft office off Bowen Road.

Oceanfront Team

Specializing in Unique Coastal Real Estate in British Columbia

Light Industrial Strata Unit - Nanaimo

`\ÊÓxä ÓnÇ ää££ÊUÊ- i iÞ\ÊÓxä nÎä {{Îx Toll Free: 1-800-563-7322

$ 219,000

Approximately 1,315 sq ft unit new and unused for your business.

Light Industrial Strata Unit - Central Nanaimo

Call for Details

edhandja@bcoceanfront.com & shelleymckay@bcoceanfront.com

Large warehouse with appointed office space.

Featured Listings Investment Property Located in Coombs, this 18.81 acre site on the Alberni Hwy includes a mobile home park and commercial lease revenue. Well priced at an 8% cap rate.

Offered for sale at $2,775,000 Heavy Industrial Property Located at Duke Point in Nanaimo this 5 acre site is paved and fenced and includes an approximately 18,000 sq ft building.

Offered for sale at $2,000,000 Seniors Care Facility - Ladysmith

$ 1,700,000

5 acres of oceanfront with plans in place for a 24 unit facility.

Saratoga Beach Golf Course - Black Creek

$ 1,495,000

SUBSTANTIAL VANCOUVER ISLAND ACREAGE With 2083 acres in the southern Comox Valley, this property is ideal for a significant development project or group purchase. This diverse acreage has over 3350m riverfront and 3250m Hwy 19 frontage. Zoning provides for a variety of possibilities. The Central Island region offers year-round recreation and access to all essential services and amenities. $4,790,000

AIRPORT HANGAR/MAINTENANCE FACILITY Located at the Campbell River Airport this is an exciting opportunity for a private or commercial aviation related business. There is a 50x50’ hangar and maintenance building with a hoist and built-in compressor, an attached 20x24’ shop, a 2bdrm suite and an ofﬁ ce/reception area. The 1.119 acre city-lease property provides ample parking and extra outside storage. $250,000

‘OCEANVIEW CABINS’ ALERT BAY This profi table and growing business is the premier accommodation choice on Cormorant Island. There are 12 cottages with 14 suites total, a 2885sqft offi ce and manager’s residence, as well as guest amenities. The property is landscaped, is adjacent to a paved airstrip, and offers ocean views of the Broughton Archipelago, world-renowned for marine wildlife and fishing. $1,075,000

PORT HARDY RIVERFRONT ACREAGE On the banks of the Quatse River this light industrial zoned 3.6-acre riverfront property offers diverse potential uses! It is only minutes from Port Hardy on North East Vancouver Island. There are hydro, sewer and water services to the property as well as highway and river frontage and good road access. Ideal for businesses such as retail, warehouse or work yards. $295,000

37.47 acre redevelopment property with executive style golf course.

Unique Commercial Offering - Downtown Nanaimo

$ 1,375,000

5,500 sq ft warehouse/shop, 1,400 sq ft house and parking lot.

Green Rock Industrial Park 9,710 to 59,376 sq ft $199,000 to $834,000

24 Light Industrial Lots in prime Nanaimo Location Excellent highway access and “Green” construction.

Business Opportunities SEWING MACHINE AND QUILTING RETAIL BUSINESS—Nanaimo

$ 180,000

FRANCHISED FAMILY RESTAURANT—Ladysmith

$ 189,000

AWARD-WINNING KITCHEN AND BATH BUSINESS—Sidney

$ 199,000

ESTABLISHED PLUMBING AND HEATING BUSINESS—Nanaimo

$ 225,000

JUMPING JIMINY’S PLAYLAND AND CAFÉ—Nanaimo Well known children’s entertainment business

$ 419,900

WHOLESALE DISTRIBUTOR—West Coast Vancouver Island

$ 549,000

ESTABLISHED PLUMBING AND HEATING BUSINESS—Nanaimo On 7,560 sq ft lot with 1,300 sq ft building

$ 550,000

RETAIL BUSINESS & DEMOLITION CONTRACTOR —Central Vancouver Island New and used building materials

$ 775,000

WHOLESALE DISTRIBUTOR—West Coast Vancouver Island On 1.039 acres with 7,320 sq ft building

$1,295,000

LIQUOR STORE IN LEASED PREMISES—South Vancouver Island

$1,500,000

PUB AND LIQUOR STORE—Coombs

$1,900,000

FRANCHISED MOVING AND STORAGE CO.—Central Vancouver Island

$2,550,000

Gerry Van Vaals Personal Real Estate Corporation DTZ Barnicke Nanaimo Ltd. gerry.vanvaals@dtzbarnicke.com

Tel: 1 800 769 5757

www.dtznanaimo.com

RICE

NEW P

MONTAGUE HARBOUR MARINA One of the most popular marinas in the Gulf Islands in one of the most protected harbours on the south coast. Long established full service facility with consistent clientele, amazing potential for growth, a general store, 50-seat Harbour Grill restaurant, .38acre & .32acre upland areas & 2 foreshore leases totaling 2.63 acres. The only private marina on Galiano Island! $1,620,000

703 FLOATPLANE OPERATION Located on the coast of British Columbia, this ﬂ oatplane operation is an established, proﬁ table and well-situated business with an excellent asset base. Domestic and International Licenses, share sale.

$1,350,000

www.bcoceanfront.com

A26 Vancouver Island

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

NANAIMO | VANCOUVER ISLAND DEVELOPMENT AND INVESTMENT OPPORTUNITIES DEVELOPMENT OPPORTUNITY WITH OCEAN AND CITY VIEWS Upscale development in the University area for 10 residential lots and 26 luxury townhomes. This development project has all the necessary plans, reports and approvals in place. Development Permit for construction can commence within a short period of time. CALL DARWIN

TWO PRIME LOCATIONS WITH HUGE POTENTIAL AS CAREHOME OR CONDO SITES

LANGFORD CONDO SITE APPROVED FOR UP TO 188 UNITS EXCELLENT LOCATION

NEW!! BARSBY ON THE MILLSTONE A great development opportunity for a well designed 58 unit Condominium Project on 1.14 acres of land on the Millstone River. Located within the no DCC zone of the City of Nanaimo, this project offers an immediate connection to the E&N trail as well as the miles of seawall on the Harbour only 3 blocks away. Development Permit ready. ASKING 1.55 M, CALL DARWIN

LOCATED NEXT TO COSTCO, FOUR POINTS SHERATON, HOME OUTFITTERS AND OTHER HIGH PROFILE RETAILERS 2.34 ACRES OF INCREDIBLE POTENTIAL $4,399,000

COMOX EXCELLENT SITE FOR CAREHOME OR CONDO DEVELOPMENT $3,000,000

MULTI – USE DEVELOPMENT SITE One of the remaining development sites within the main service corridor of the Chase River neighbourhood – South Nanaimo. With approx. 4.3 acres of usable lands and excellent access directly off Hwy 19A via trafﬁc light. This site has excellent potential for a wide use of mixed Commercial-Residential developments. 2.8M, CALL DARWIN

CENTRALLY LOCATED AND ADJACENT TO MAJOR BRANDS SUCH AS: SHOPPERS DRUG MART, SUBWAY, A&W Please visit our website or call for more details.

monarkinvestments.ca

604-592-7250

Financing Available. Potential Trades.

EXCELLENT REDEVELOPMENT PROPERTY W/ EXISITNG MOTEL Enjoy the existing holding income from the current motel complex while planning a new 6 storey commercial/ residential mixed use complex. Great location near Hospital Node where demand exceeds supply for strata medical ofﬁces. Excellent exposure to Highway 19A and great access from rear of property with easy design for underground parking. 1.5M CALL DARWIN

COMMERCIAL HARBOUR REALTY LTD VANCOUVER ISLANDS LEADER s ,AND 5SES s $EVELOPMENT )NITIATIVES THROUGH to completion s 0ROTECTS AND -ARKETING s )NVESTMENT s )NSOLVENCY s 2EAL %STATE !DVISORS

BUSINESS OPPORTUNITY AT THE RESORT BEACH CLUB – PARKSVILLE B.C. “Perfectly Positioned Spa” in the Newest 4 Star Hotel Resort in Parksville B.C. A turnkey operation, elegantly designed treatment room, the latest equipment and spa line products, topped off with an unbelievable LEASE. CALL BILL SOREG for Details. COMING SOON Rental Investment Homes for the avid investor. (Secondary suites may be non conforming) METRO VANCOUVER INDUSTRIAL BUILDING CLOSE TO CITY CENTRE Located in close proximity to downtown Vancouver and Commercial Drive. Older industrial building on 5,808 sq. ft. of land. Building fully occupies site. Grade level loading door, separate entrance door. Two ofﬁces, one half bathroom, great for a storage facility. Priced @ $727,000. CALL ROB

PRO OIL CHANGE is recognized as one of Canada’s fastest growing Oil/Lube & Preventative Vehicle Maintenance Franchises. We are a young, energetic and success-driven organization. Now accepting applications throughout BC. Candidates must have a minimum of $150,000 cash to invest.

*Financin g Progr Available am *

To learn m ore about this exciting o pportunit y contact u s today!

Darwin Mahlum Rob Lancit – 604-730-5553 rlancit@prooilchange.com

Robert Borden 250.760.1066

Information brochure available.

www.prooilchange.com

NANAIMO & VANCOUVER ISLAND PROPERTIES

Ê Ê- ",// ÊUÊ/" Ê , Ê£ nää ÈÈx nÎ£Î FORECLOSURE COURT ORDERED SALES 3 ACRE TOWNHOME DEV SITE Stunning ocean view up to 30 units. $995,000

DEVELOPMENT SITES & LAND 1.0 ACRE COMMERCIAL DT 11 ZONED PROPERTY With 3 separate buildings. Used formerly as Sunglow Lumber & 2nd hand store outlet. Property is assessed value over $1 million. $569,000 OCEAN VIEW DEVELOPMENT SITE 21 condos or 8 townhomes. $379,500 JUST LISTED; FANTASTIC OCEAN VIEW RM-5 Dev site, unrestricted views, overlooks cruise ship pier. Approved for 35 condos, No DCC’s. $729,000 6 ACRE DEVELOPMENT SITE Zoned RM5, 4 Phases approved for townhome & condos. Central Nanaimo. Asking $1,850,000 FINANCING AVAILABLE

NANAIMO BEST BUY! MIDRISE DEVELOPMENT SITE Located in the Downtown core. Nanaimo: Commercial or condo site. $269,000 NOW $199,000 Excellent Buy 2 ACRE COUNTRY LOT ZONED FOR 2 HOUSES Allows for Bed & Breakfast, dog kennels, country market, campgrounds. City water. $298,000 DUPLEX LOT $129,000 4 PLEX LOT $199,000 COUNTRY ESTATES DEVELOPMENT SITE 23 ACRES $459,000 50 ACRES, $995,000 43 ACRES $859,000 Adjoining properties, 1 mile from city limits, Zoned for 5 acre lots DOWNTOWN DEV. SITE includes 2 lots, 2500 sq.ft. restaurant. Leased zoned for 5 storey commercial or condos. Invest and HOLD. $780,000 FOR LEASE OVER 5,000 sq.ft. 4 bay garage or warehouse, office. Calling all automotive businesses or glass shops. Location on Hwy in town.

HOTELS & PUBS NORTH ISLAND HOTEL & PUB, WINE & BEER STORE 30 renovated rooms generating $8,000 monthly. Seller will finance. $1,595,000

FULL FACILITY SUPER 8 MOTEL Central/southern Vancouver Island. High profile Location. 35 rooms, + 20 suites with leased 125 seat pub and Smitty's 120 restaurant. 1.5 acre property on Trans Canada. $3,600,000

INCOME PRODUCING + REVENUE PROPERTIES 5 PLEX NANAIMO 5 meters, over $4,500 monthly revenue. Covered parking. Storage lockers. Separate meters. Asking $749,500 OCEANVIEW 3-PLEX South Vancouver Island. Excellent Income. 3 separate titles. $369,000 NANAIMO DUPLEX 3 bedrooms per side, 2 separate titles. Excellent income. $424,900 5 RENTAL HOMES – All together 5 sep. adj. lots. Starting at $234,900 or all for $1,150,000. Seller will finance.

CONDOS & HOMES PACIFICA OCEAN FRONT CONDOS 38 Front Street Units for sale. Walk-on waterfront townhome $509,000 no HST. Call Dale for other available units.

WATERFRONT TOWNHOME 1740 SF 3 bedrooms, roof top patio. $599,000 DEPT BAY BEACH FRONT HOME This smaller 2 bedroom home awaits your ideas. Great year round or vacation home, swimming & beach right out off your front veranda. $649,000 WATERFRONT CONDO TRADES WELCOME $425,000 With swimming pool and hot tub and boat moorage. 2 bedroom, 2 bathroom in Yellow Point. Seller will finance with low down or take trade! Owner will take a condo in Vancouver in trade. www.yellowpointmemories.com

NANAIMO Bus: (250) 758-3700 U

JUST LISTED 21 UNIT TOWNHOMES REVENUE PROPERTY ON THE GOLF COURSE. 2 & 3 bedroom units, private patios. Monthly income: over $20,000, assumable mortgage. Ideal property to hold or strata conversion. Asking $2,875,000 12 UNIT APARTMENT BLOCK. Renovated. $8,000/monthly revenue. Financing available. $1,180,000 STRIP MALL Across the road from the beach, 10,200 sq.ft. 3 commercial spaces. 4 strata condo rental units. Monthly income over $11,000 ASKING $2,250,000 RESTAURANT PUB 150 seat pub plus full facility 75 seat restaurant. Excellent lease in place. Franchised. Located in large hotel. Seller will finance. ASKING $285,000 SANDWICH BAR/ COFFEE SHOP $79,900 "The Dancing Goat". Located in mall, excellent income. Beautiful décor. All equipment included.

REVENUE COMMERCIAL $1,395,000 THE GLOBE HOTEL Opened in 1887 – restored 3 storey masonry building. Home to 145 seat pub restaurant. Full functioning kitchen. 8 – 1bdrm suites. Great investment. Great return.

TOLL FREE 1-800-665-8313

È{äÊ/À> ÃÊ > >`>Ê } Ü>Þ]Ê >`ÞÃ Ì ]Ê ° °Ê6 Ê£ ÇÊUÊ > \Ê`> i Ã ÀÌÌJÃ >Ü°V>

Ocean Pointe

A27

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

%0/& %&"-4

Our readers report on new commercial real estate deals across Western Canada

one Deals is our monthly feature highlighting some of the major real estate transactions completed recently in Western Canada’s vibrant commercial real estate market.

50,824-square-foot industrial/office in 6,499-square foot retail building, East Broadway, Vancouver, sold for $3.5 million Nisku, Alberta, sold for $7.2 million.

Photo: Avison Young

From: Colliers International, Fort McMurray. Colliers agent Ken Shebib reports the following sales and leases. Deals: All in Fort McMurray. 25,956-square-foot building on 2.22 acres, Taiga Nova Eco Industrial Park. Sold to Acuren Group. Price: $11.5 million. From: Avison Young Commercial Real 20,000-square foot office building on 1.98 Estate, Vancouver. Avison Young agent acres, Gregoire Drive. Sold to Operating Chris Weiser reports the following sale: Engineers Local 955. Price: $6.25 million. Deal: Three-building apartment portfolio in 10,500-square-foot industrial building on 2 Burns Lake, B.C. Sold for Lam Holdings acres, MacDonald Crescent. Sold toQuality Ltd. to Ed Schwartzin. Sales works out to Group of Companies. Price $4.3 million $27,343 per “door” at a 14.5 per cent capital- 3.77-acre development site planned for 31 ization rate. Price: $1.75 million. industrial bays of 65,000 square feet on Avison Young agents Chris Weiser andRob MacKenzie Boulevard. Sold to Kuusamo Greer report the following: Developments. Price: $7.84 million. Deal: 47-unit apartment building on Deals: leases (at $40 per square foot.): Esquimalt Road, Victoria. Sold for Robert 12,978 square foot at Taiga Nova Eco and Edna Lindal to Castera Properties Inc. Industrial Park, 10-year lease to Epcor Price: $5.7 million. Utilities Avison Young AgentsMark Hannah, Rob 12,978 square foot at Taiga Nova Eco Greer and Struan Saddler sold the follow- Industrial Park. 10-year lease to Fisher ing: Power Line Deal: 39,196-square-foot Morrey Mazda 3,815 square foot at Taiga Nova Eco Industrial development site, East Hastings St., Park. 7-year lease to Applus TRD. Vancouver. Price: $5.5 million. 3,864 square foot at Taiga Nova Eco Industrial Park. 7-year lease toPublic Works From: CBRE National Apartment Group, Canada. Edmonton. CBRE National senior vice-pres- 5,040 square foot on MacMillan Road. 3-year ident Bradley Gingerich reports the follow- lease to Lonestar Hydrovac; and ing sale: 12,000 square foot industrial lease, Deal: Four-building apartment portfolio in MacAlpine Crescent. 3-year lease to Lean Prince Albert, SK. Includes a 116-unit build- Harbors. Rate: $43 per square foot. ing, a 36-unit building, a 40-unit building, all walk-ups, and a 71-unit concrete high-rise for From: Target Realty Corp., Calgary. Target a total of 236 units. Price: $17.5 million. Realty associates Keith Armstrong and Reg Power sold the following: From: Re/Max River City, Edmonton, Deal: 18,168 -square-foot industrial building

Photo: DTZ Barnicke

From: DTZ Barnicke, Vancouver. DTZ agent Ryan Saunders reports the following sale: Deal: Fully leased 6,449-square-foot retail investment building, East Broadway Avenue, Vancouver. Sold to an investor at a capitalization rate of 4.2 per cent. Price: $3.5 million.

Photo: Target Realty Corp.

Photo: Re/Max River City

Re/Max River City agents Wayne Moen, Morgan Moen and Rob Biddlecombe report the following sale; Deal: Fully leased 50,824-square-foot warehouse/office complex of two buildings on 4.7 acres in Nisku, Alberta. Price: $7,200,000

47-unit apartment building, Esquimalt area of Victoria, sold for $5.7 million.

18,168-square-foot industrial building, Calgary, sold for $2.7 million

on 1.2 acres in Calgary. Sold for Mikkelsen’s agent Chris Tarves, report the following: Holdings Inc. to Silkstone & Granite Ltd. Deal: 14,887- square-foot building on 1.21 Price: $2.7 million. acres, 32nd Street NE, Calgary. Price: $2.59 million. From: NAI Commercial (Calgary ) Ltd., Calgary. NAI vendor agent Jim Courtney, Recently completed a major commercial with Strategic Realty Services Inc. agent real estate deal? Send details for a free report Murray Bauer and Sutton Group-Canwest here to: wieditor@biv.com.

7BODPVWFS *TMBOE

VANCOUVER ISLAND COMMERCIAL www.nanaimoremaxcommercial.com

1-877-335-4380

Jay Cousins Realty

Jay Cousins jay@jaycousins.com

FOR SALE

INVESTMENT OPPORTUNITIES

UÊÊÊ /, Ê " – Almost 2 acres of land fronting on the Millstone River, and next to the Pryde Vista golf course. Located next to a new high quality subdivision on a no thru street. Zoning allows for a single family unit with a suite. $200,000

UÊÊ " , Ê <" Ê 1 Ê EÊ *,"* ,/9Ê – Close to Downtown Nanaimo, 2,800 sq. ft. over 2 levels, busy location with high visibility storefront. Uses range from car sales lot to restaurant/retail $249,900

UÊ "1,/Ê ", , Ê - - Vacant, 2,160 sqft warehouse. Undeveloped upper level with two large open areas, and two 2-piece washrooms. Main floor is accessed by a pedestrian door and 2 overhead doors. Lower level, of about 2000 sqft, accessed by a pedestrian door and 1 overhead door.

UÊ 1 Ê Ê Ê "7 /"7 Ê "Ê ", Ê qÊ Main thoroughfare location has great exposure, paved lot, building has 3 bay shop, storage, 2 offices, plenty of uses permitted. Motivated owner $449,000

,i`ÕVi`ÊÌ ÊfÓx ]äää°ää

UÊ nÊ1 /Ê 1 / , - / Ê*,"* ,/9ÊOld City Nanaimo 100 Yr Old well maintained character building, new decks, new appliances, bonus lot at rear shows potential for additional 4 plex development. $479,900 UÊ 7 Ê "7 Ê *",/Ê , Ê , Ê 1 Ê qÊ Currently used as offices & union hall, approx. 6,990 sq. ft. over 3 floors. P1 zoning allows public assembly, but could be commercially rezoned. $995,000

UÊ 1 / 9Ê 6 "* /Ê - / - approved for 16 units. No DCC’s, close to downtown Nanaimo with some ocean views. Development permit in place, vendor financing available or joint venture possibilities.ÊÊ ,i`ÕVi`ÊfÎä ] ää UÊ /Ê 1-/, Ê <" Ê " * 8Ê qÊ - Ê Great revenue opportunity potential to generate $164,000 annuUÊ ",/ Ê "Ê " , Ê 6 -/ /Ê ally. Island Highway exposure, easy access, 6 buildings in total, all *,"* ,/9 - Fully leased 1837 sqft commercial strata unit on 2.88 acres. Rental rates with vacancies filled will show nearly over 2 floors (935 sq. ft., and 902 sq. ft.). $22,000 per year net 8% CAP rate.Ê Ê f£]ÎÈn]äää income. f{£ä]äää°ää U 1 / / / Ê 69Ê 1-/, Ê*,"* ,/9Ê UÊÊ ," /" ]Ê, - / Ê 6 "* /Ê- / - A 5.68 – Parksville area. 6.2 Acres partially developed with new wareacre development site with an excellent ocean view and a short houses, new 4 unit multi-res work/live space, new office building walk to the waterfront. The site is gently sloping towards the plus existing build to suit tenant in place on 1 acre portion w/ ocean with a variety of benches for easy development. Vendor paved & security fenced area. Further 2.5 acres left to continue development plan. Potential income under current configuration financing may be available with a reasonable down payment. in excess of $164,000 annually. REDUCEDÊf£] xä]äää fÈ{ ]äää

FRANK JOHNSON

JAY COUSINS

of Nanaimo

Frank Johnson frank@remaxofnanaimo.com

INVESTMENT OPPORTUNITIES

www.nanaimoremaxcommercial.com

1-877-423-0984

INVESTMENT OPPORTUNITIES

UÊ " , Ê 1 Ê EÊ Ê Ê 1 Ê Property U /, Ê "Ê *," -- " Ê " Ê 1 600 sq. ft. dwelling on large 7,297 sq. ft. level lot. has theatre building with 2 levels plus fully equipped kitchen Layout includes 3 offices plus reception. Zoning allows multi& hall downstairs. Zoned C1 General Commercial provides tude of uses including medical, dental accounting, legal etc uses for churches, fitness studio, schools, office use, retail & f£ ] ää $449,000 UÊ £ Ê1 /Ê, 6 , ," /Ê "/ Ê" ÊÓÊ , -Ê Ê* , -6 Ê wholesale use. Unique rural feel to property with fourplexes, duplexes, and single UÊ 1-Ê " , Ê 6 -/ /Ê "**",/1 /9ÊÊ freestanding units. Redevelopment opportunity includes existing 3 Unit Complex in prime tourist/business core with good exrevenue stream, owners residence, large open area, City water and pansion potential. Income at market rents could offer a posa motivated seller. $859,000 $549,900 UÊ /7"Ê 6 Ê -/, / Ê 1 /Ê qÊ * , -6 Ê Service sible 7% CAP rate Commercial zoning. Main level warehouse with 6 offices, staff UÊ { * 8Ê 1 / , - / Ê *,"* ,/9 – Parksville Atkitchen & washroom upstairs. Full A/C on 2nd level as well. Owner tractive location, quality tenants on yearly leases, ocean view is willing to lease back. fÎÓx]äää from upper suites, C-3 zoning can potentially allow higher U " Ê /9Ê+1 ,/ ,Ê*, Ê " / " Over 3500 sq.ft. of , 1 Êfxnx]äää commercial or mixed uses in future. DT2 Commercial space on 3 levels. Complete renovations in 1992 including thermo windows, 5/8 firestop between floors, sprinkler UÊ£{Ê1 /Ê "/ Ê7 / ÊÈÊ1 /Ê,6Ê* , Ê – 2 level mansystem, separate hydro etc. Suite on top floor has ocean views, ager’s residence with office/reception. Outdoor pool, no deferred a nicely updated property & wonderful character investment in a maintenance issues, consistent highly profitable revenue shows thriving downtown community. fÎ ]äää 11% cap. One of the nicest hospitality properties in the mid-Island UÊ , Ê7 / Ê 1 Ê " Ê High visibility Mid-Island location, area. f£]Ó{ ]äää concrete engineered docks, steel pilings, security gate with ramps, direct metered 50 amp hydro capacity. Quality look and feel, no vaUÊ ££äÊ 1 /Ê Ê -/", Ê Ê - / , on 3.63 Acres with cancies, excellent cash flow. f£]Ç x]äää over 2 acres undeveloped & ready for commercial developU " Ê Ê-/", Ê /9 110 Units with 29 steel ment. High visibility, 85% capacity year round, outdoor RV & containers offering extra rental space all on 2.5 Acre parcel. boat storage as well. Great business opportunity f£]ÓÇx]äää Additional rental income from residential & commercial tenants. Consistent 95% occupancy. Current Appraisal estabU "1,/Ê", , Ê- ÊqÊ - ÊqÊx° ÎÊ lishes asking price $2,400,000 , -Ê Industrial zoned land with newer 14,580 sq ft. warehouse, 4,410 sq ft. shed for storage and office building. Two level U Used books / consumer services retail – Nanaimo $94,000 topography, fenced, easy access to highway. Was lumber facility. UÊSeasonal Wreath Business – Qualicum f£Ó ]äää f£]ÎÈn]äää U Ricky’s All Day Grill Franchise – Courtenay $299,000

BUSINESSES

JAY COUSINS

A28

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

COMMERCIAL

RE/MAX TREELAND REALTY

RE/MAX LITTLE OAK REALTY

RE/MAX BOB PLOWRIGHT REALTY

#101 6337 - 198 Street, Langley, B.C. V2Y 2E3 Tel: (604) 533-3491 Fax: (604) 533-0202 Toll Free at 1-888-707-3577

2630 Bourquin Crescent West, Suite 9, Abbotsford, B.C. V2S 5N7 Tel: (604) 859-2341 Fax: (604) 850-2325 Toll Free at 1-800-668-8661

7300 Vedder Road, Suite 1, Chilliwack, B.C. V2R 4G6 Tel: (604) 858-7179 Fax: (604) 858-7197 Toll Free at 1-800-830-7175

COMMERCIAL BUYER/TENANT REPRESENTATION

Have you done a proper Lease vs. Buy Analysis? A CCIM provides more resources than other Realtors can! Have your Commercial Professional source your requirements: Properties, Bylaw Compliance, Investment Analysis, Negotiations. Call or email David! YOUR AGENT works for YOU!

DEVELOPMENT SITES

BURNABY Rare opportunity to buy, subdivide and

develop 2 downhill Cul-De-Sac residential lots in Montecito area of Burnaby! 11,000 sq. ft. lots will take 4700 sq. ft. houses. For Developer/Builder only. $650,000 CLS # V4029426 â&#x20AC;&#x201C; Call or email David RETAIL LEASE SPACE Two retail storefronts of approximately 975 sq ft each: take one or both. Prime retail exposure in a high traffic corridor on the border of Coquitlam and PoCo. $18.00 Sf. Close to Coquitlam Centre. Cls # v4029643 â&#x20AC;&#x201C; Call or email David

INDUSTRIAL WAREHOUSES/OFFICES

COQUITLAM #100 42 Fawcett Rd.

RACT IN CONT

M-1 Industrial unit 5080 sq. ft. 1580 warehouse with 2 grade doors, 3500 sq. ft. finished office/showroom $775,000 CLS#V4027558 Call or email David!

THERE ARE DIFFERENT TYPES OF INVESTORS, DISCOVER THEIR INVESTMENT STRATEGIES, AND YOUR TYPE

UĂ&#x160;{Ă¤Ă¤Ă¤Ă&#x160;Ă&#x192;ÂľĂ&#x160;vĂ&#x152;Ă&#x160; Â&#x2C6;}Â&#x2026;Ă&#x152;Ă&#x160; Â&#x2DC;`Ă&#x2022;Ă&#x192;Ă&#x152;Ă&#x20AC;Â&#x2C6;>Â?Ă&#x160;Â&#x2DC;iĂ&#x153;iĂ&#x20AC;Ă&#x160;ÂĂ&#x160;Ă&#x201C;Ă¤Ă¤Ă&#x2021;ÂŽĂ&#x160;Ă&#x160; LĂ&#x2022;Â&#x2C6;Â?`Â&#x2C6;Â&#x2DC;}Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160; >Ă&#x153;Ă&#x192;Â&#x153;Â&#x2DC;Ă&#x160; Ă&#x20AC;iiÂ&#x17D;]Ă&#x160; Â° UĂ&#x160;Ă&#x17D;Ă&#x201C;Ă&#x160;1Â&#x2DC;Â&#x2C6;Ă&#x152;Ă&#x160;Ă&#x152;Â&#x153;Ă&#x153;Â&#x2DC;Â&#x2026;Â&#x153;Â&#x201C;iĂ&#x160;VÂ&#x153;Â&#x201C;ÂŤÂ?iĂ?Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160; >Ă&#x153;Ă&#x192;Â&#x153;Â&#x2DC;Ă&#x160;

Ă&#x20AC;iiÂ&#x17D;Ă&#x160; Â°Ă&#x160;ÂĂ&#x160;xĂ¤Ă&#x160;Â&#x17D;Â&#x201C;Ă&#x160;vĂ&#x20AC;Â&#x153;Â&#x201C;Ă&#x160; Â&#x153;Ă&#x20AC;Ă&#x152;Ă&#x160;-Ă&#x152;Ă&#x160; Â&#x153;Â&#x2026;Â&#x2DC;Ă&#x160;>Â&#x2DC;`Ă&#x160; /Ă&#x2022;Â&#x201C;LÂ?iĂ&#x20AC;Ă&#x160;Ă&#x20AC;Â&#x2C6;`}iÂ°ÂŽ

DAVID KEARNEYCCIM

www.davidkearney.com dkearney@remax.net

604-942-0606

HIGH PROFILE DEVELOPMENT OPPORTUNITY x23,756 sq. ft. lot located on busy fully signaled corner intersection xPartially finished 3 unit retail building with potential to build 2nd phase xDevelop, add value and realize a profit

SALE $690,000 16 SUITE MULTI FAMILY DEVELOPMENT SITE xOffered at CAP RATE of 5.69% xComprised of 2 separate titles .78 acres xFuture Development Site xIn Cityâ&#x20AC;&#x2122;s Official Community Plan 28 to 54 units per acre, 4 storey residential

UĂ&#x160; Â&#x153;Ă&#x20AC;Ă&#x152;Ă&#x160;-Ă&#x152;Ă&#x160; Â&#x153;Â&#x2026;Â&#x2DC;]Ă&#x160; Â&#x2DC;Ă&#x203A;iĂ&#x192;Ă&#x152;Â&#x201C;iÂ&#x2DC;Ă&#x152;Ă&#x160;Â&#x153;ÂŤÂŤÂ&#x153;Ă&#x20AC;Ă&#x152;Ă&#x2022;Â&#x2DC;Â&#x2C6;Ă&#x152;Ă&#x17E;Â°Ă&#x160;7iÂ?Â?Ă&#x160; Â&#x17D;iÂŤĂ&#x152;Ă&#x160;Ă&#x2022;ÂŤĂ&#x160;Â?Â&#x2C6;}Â&#x2026;Ă&#x152;Ă&#x160; Â&#x2DC;`Ă&#x2022;Ă&#x192;Ă&#x152;Ă&#x20AC;Â&#x2C6;>Â?Ă&#x160;LĂ&#x2022;Â&#x2C6;Â?`Â&#x2C6;Â&#x2DC;}Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160;*Ă&#x20AC;Â&#x153;Ă&#x192;ÂŤiVĂ&#x152;Ă&#x160; *>Ă&#x20AC;Â&#x17D;Ă&#x160;VÂ?Â&#x153;Ă&#x192;iĂ&#x160;Ă&#x152;Â&#x153;Ă&#x160; Â&#x2C6;}Â&#x2026;Ă&#x153;>Ă&#x17E;Â°Ă&#x160;Ă&#x160;xĂ&#x160;L>Ă&#x17E;Ă&#x192;]Ă&#x160;Â&#x153;vvÂ&#x2C6;ViĂ&#x192;Ă&#x160;Â&#x153;Â&#x2DC;Ă&#x160; Â&#x201C;>Â&#x2C6;Â&#x2DC;Ă&#x160;>Â&#x2DC;`Ă&#x160;>LÂ&#x153;Ă&#x203A;iĂ&#x160;Ă&#x153;Â&#x2C6;Ă&#x152;Â&#x2026;Ă&#x160;Â?Ă&#x2022;Â&#x2DC;VÂ&#x2026;Ă&#x160;Ă&#x20AC;Â&#x153;Â&#x153;Â&#x201C;Â°Ă&#x160; iÂ&#x2DC;Vi`Ă&#x160; Ă&#x17E;>Ă&#x20AC;`Ă&#x160;Ă&#x153;Â&#x2C6;Ă&#x152;Â&#x2026;Ă&#x160;Ă&#x192;Ă&#x152;Â&#x153;Ă&#x20AC;>}iĂ&#x160;Ă&#x192;Â&#x2026;i`Ă&#x192;Â°Ă&#x160;$1.1 Million. UĂ&#x160;->Ă&#x17E;Ă&#x160;}Â&#x153;Â&#x153;`LĂ&#x17E;iĂ&#x160;Ă&#x152;Â&#x153;Ă&#x160;Ă&#x17E;Â&#x153;Ă&#x2022;Ă&#x20AC;Ă&#x160;LÂ&#x153;Ă&#x192;Ă&#x192;]Ă&#x160;>Â&#x2DC;`Ă&#x160;VÂ&#x153;Â&#x201C;iĂ&#x160;Â&#x153;Ă&#x153;Â&#x2DC;Ă&#x160; Ă&#x152;Â&#x2026;Â&#x2C6;Ă&#x192;Ă&#x160;Ă&#x152;Ă&#x2022;Ă&#x20AC;Â&#x2DC;Â&#x17D;iĂ&#x17E;Ă&#x160;LÂ&#x2C6;Ă˘Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160; LLÂ&#x153;Ă&#x152;Ă&#x192;vÂ&#x153;Ă&#x20AC;`Â°Ă&#x160; Ă&#x2022;Ă&#x152;Â&#x153;Ă&#x160; Â&#x153;`Ă&#x17E;Ă&#x160; LÂ&#x2C6;Ă˘Ă&#x160;vÂ&#x153;Ă&#x20AC;Ă&#x160;Ă&#x192;>Â?iÂ°Ă&#x160;$159,000.

RAY YENKANA CCIM, ABR 1-800-668-8661

SALE $1,295,000 CHWK ACREAGE - 2 TITLES

1-888-942-0606

Follow me on Twitter @rayyenkana

RE/MAX S ABRE REALTY

RE/MAX LITTLE OAK REALTY

LIVE/WORK PROPERTY

x14.35 Acres of land xIncludes 6 Bdrm Home +

x2,843 sq. ft. 4 Bdrm Home x1 Acre Industrial Property xZoned CD14 - Outside

70 x 80 Barn xAlso available w/separate

Storage

title 7.5 acre land

SALE - FARM: $895,000 LAND: $469,000

SALE $599,900

BUSINESS FOR SALE

INVESTMENT PROPERTY x.29 Acre lot zoned CSI xCommercial on bottom floor xResidential on top floor xFully leased Âą 3,798 sq. ft.

xSandwich Tree Franchise xEasily run by couple or

family

rayy@remax.net www.rayyenkana.com (listing details)

Toll Free:

102-2748 Lougheed Hwy., Port Coquitlam, B.C. Tel: (604) 942-0606 Fax: (604) 942-9533

FOR SALE IN CHILLIWACK

THE SPENDER, THE SAVER, THE INTELLIGENT INVESTORâ&#x20AC;Ś EMAIL ME FOR THE FULL ARTICLE AND TO DISCOVER YOUR TYPE.

RE/MAX SABRE REALTY GROUP

xThis business makes

money

building

SALE $59,900

SALE $598,800

FORECLOSURE PROPERTY TOURIST COMMERCIAL SITE xGood street exposure xPlenty of City Parking xRenovated in 2007 x11,293 sq. ft. lot

x Foreclosure property x2.75 Acres themed park xLocated on busy road to

Harrison Hot Springs.

SALE $795,000

SALE $615,000

AIRPORT HANGAR W/OFFICE

LIVE/WORK OPPORTUNITY

x 2 kitchens, 2 washrooms,

xLevel land in high traffic area xEasy access with turning lane x.31 acres xValue in land, house is livable

2 reception areas, 15 offices, 7000 sf hangar with 2 x 2.5 ton hoists etc. Can be leased separately.

STORAGE for 500+ Vehicles at back

SALE $850,000 or LEASE FROM $6/s. f.

SALE $324,900

LIVE/WORK OPPORTUNITY

BUSINESS & PROPERTY xLiquor Store & Pub, on 1

xMixed use 3,250 sq. ft. x3 bdrm residential suite x4 Bays, in floor radiant

acre of land xLocated on busy road xPrice includes: business,

heat and individual meters

SALE $689,900

land, equipment and building

SALE $599,900

FOR LEASE IN CHILLIWACK Lease From $8/sq ft

Lease From $12/sq ft

Lease From $6/sq ft

xRetail 1,350 sq. ft. on 1st floor xHigh Visibility, on busy main road xRetail 2,270 sq. ft. on 1st floor xExcellent exposure on busy road x2 Office spaces upstairs xFrom 746 sq. ft. to 2,697sq. ft. xLocated in busy downtown area xPlenty of on-site parking xOn site parking

Lease from $10$12/sq ft

Lease $9-$10/ sq ft

Lease $9/sq ft

xNear Courthouse/City

xOffice and/or retail space Centre xUp to 4,450 sq. ft. Full HVAC xSpace available 1091 to 1665 sq ft x9 private offices, reception etc.

x Commercial Retail/Office xOn Site Parking - Zoned CSM x2 Units (1,472 & 2,671 sq. ft.)

Bob Plowright RE/MAX Bob Plowright Realty CHILLIWACK, BC 1-800-830-7175 - 604-858-7179 bob@bobplowright.com www.bobplowright.com

FOR SALE 61.85 FLAT ACRES MISSION AREA Comes with 10 buildings, which cover approx 4.5 acres, including 2547 sq ft renovated house. Currently set up for horse boarding, full time on site manager, excellent income. Good opportunity for other agricultural uses, lots of sun and good soil. Seller wants to retire. Asking $2,400,000.

DAVE ABBOTT 1-888-296-8060

dave@fraservalleysales.com

RE/MAX 2000

GREENHOUSE OPPORTUNITY High traffic Langley location â&#x20AC;&#x201C; 1568 227 St. s SQ FT OF GREENHOUSE READY TO USE s BEDROOM SQ FT HOUSE s ACRE LOT Financing & lease options available Asking $1,699,900

BOB KALO 604-533-3491

RE/MAX TREELAND

SPECTACULAR VIEW 36.4 ACRE PROPERTY â&#x20AC;&#x201C; ABBOTSFORD One of a kind awesome view, overlooking Fraser river & Valley farms. Ideal building site for the exclusive country estate. Fully useable farmland for berries or livestock.

Asking Price: $2,188,000

CALL ROY MUFFORD

SOUTH QUESNEL CATTLE RANCH 5 title 768 acre fully fenced cattle ranch 150 acres irrigated, 250 acres pasture, balance in late summer pasture. +/-3000 acres of attached range lease. 10 yr old ranch house, 1400 sq ft cabinet shop, 24â&#x20AC;&#x2122;x 40â&#x20AC;&#x2122; mechanics shop, bunk house, 2880 sq ft machine shed, 3 yr old 72â&#x20AC;&#x2122; x 80â&#x20AC;&#x2122; hay barn, large log hay & cattle handling barn. Premium farm equipment is also negotiable. Currently set up to raise 250 â&#x20AC;&#x201C; 300 head. Excellent value! Asking $1,280,000

604-533-3491

RE/MAX TREELAND