Western Investor February 2012 Section B

Page 1

iÛi « i ÌÊ Estate Purchase 7>ÌiÀvÀ Ì

INTERIOR B.C. • ALBERTA • SASKATCHEWAN • MANITOBA SECTION

14 KICKING OFF RESORT CYCLE

Kicking Horse Ski Resort sale may signal upturn

▲

Kicking Horse president Steve Paccagnan welcomes sale to Calgary’s Resorts of the Canadian Rockies

5 KAMLOOPS’ UGLY PIT SPLIT

Residents square off on debate over mine jobs versus the environment

.C. hoo: JuHIdy Gr

17 SHOP TILL THEY DROP

Calgary mall rings up $1,000-per-square-foot sales in consumer Mecca 23 GUTLESS IN A BOOMING CITY

Offering one of the nicest settings on Kootenay Lake on the North Shore of Beautiful Nelson, British Columbia UÊÎääÊvÌ°Ê vÊ7>ÌiÀvÀ ÌÊÜ Ì ÊÓnÊ VÀià UÊ À}i ÕÃ]ÊLi V i`ÊÛ iÜÊ«À «iÀÌÞ UÊÎÊL`À°ÊÓÊL>Ì ]Ê ÕÃiÊ ÊÌ iÊÃ> `ÞÊLi>V UÊfÓ]nxä]äää Call for more information: Ê£°Óxä°Îx{° ä{ä

Regina is roaring but speculators are timid

SPECIAL SECTION • B14

LIFESTYLE PROPERTIES

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

$4.29 FEBRUARY 2012 Vol. 27/Issue 2

B2 Interior British Columbia Colliers International Centre Group Commercial Realty Kelowna, B.C. 250.763.2300

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

Colliers International Centre Group Real Estate Services Kamloops, B.C. 250.372.7000

www.colliers.com/kelowna

DOWNTOWN KELOWNA s -ULTI &AMILY $EVELOPMENT 3ITE s ACRES :ONED 2- s -ANY UPGRADES COMPLETED REQUIRES ONLY $0 TO COMMENCE CONSTRUCTION List Price: $1,700,000

3151 HILL ROAD, LAKE COUNTRY

FOR SALE

230 CARION ROAD, WINFIELD

ACRE REVENUE PRODUCING PROPERTY :ONED FOR REDEVELOPMENT WITHIN ,AKE #OUNTRY 4OWN #ENTRE List Price: $399,900

)NDOOR #AR 4RUCK 7ASH W # 3TORE 'AS 3TATION 7ITH # 3TORE #OMMERCIAL #ARDLOCK 0ROPANE #ARDLOCK JACK SHABBITS & ERIC WEBER*

SQ FT CONCRETE BLOCK INDUSTRIAL BUILDING ON ACRES SQ FT OF OFFICE SPACE ON FLOORS List Price: $2,690,000

WENDY DYCK

0ERSONAL 2EAL %STATE #ORP

MULTI TENANT INDUSTRIAL, PENTICTON

TOWER RANCH GOLF RESORT MULTI FAMILY DEVELOPMENT s .EW PRICE REFLECTS DOOR #$ ZONE ALLOWS FOR SINGLE FAMILY 4 ( OR - & MAXIMUM OF HOMES Reduced from $22,500,000 to $14,500,000

364 LOUGHEED ROAD, KELOWNA s 3TAIR AND RAILING MANUFACTURING FACILITY s YEARS IN +ELOWNA LARGEST MARKET SHARE IN INDUSTRY s 0URCHASE BUSINESS BUILDING AND OR BUSINESS OR BUILDING List Price: $599,000 (Business Only) List Price: $1,052,000 (Building Only)

CHAD BIAFORE & MARSHALL MCANERNEY* * PERSONAL REAL ESTATE CORP.

s #!0 2ATE s LEASED INDUSTRIAL PROPERTY s SQUARE FEET ESTIMATED ',! List Price: $2,900,000

247 BRIDGE STREET, PRINCETON

391 TILLEY ROAD, WINFIELD BAY CONCRETE TILT UP BUILDING SQ FT ON ACRE SITE &OR ,EASE PSF For Sale: $1,495,000

ERIC WEBER*

JEFF HUDSON* & MARSHALL MCANERNEY* *PERSONAL REAL ESTATE CORP. www.bcip.ca

YOUTH HOSTEL

DEVELOPMENT SITE - KELOWNA NORTH s SITES ACRES AC s ,OCATED IMMEDIATELY . OF THE $ 4 s :ONED INDUSTRIAL REZONING MAY EXIST s 3ELLER MAY LEASE BACK A PORTION List Price: $10 M & $5.5 M

ERIC WEBER* / MARSHALL MCANERNEY*

ERIC WEBER* JAYSON McCARTHY

s SQ FT BUILDING FORMER GROCERY STORE ON SITE PARKING STALLS SITE COVERAGE ON ACRE List Price: $1,175,000 BOB GAULEY

s ,OCATED IN THE /KANAGAN 6ALLEY THIS IS A VERY WELL ESTABLISHED AND PROFITABLE BUSINESS s (OSTEL IS ADVERTISED WORLD WIDE AND HAS AN ESTABLISHED CLIENTELE List Price: $879,000

MOTEL, HOTEL & BUSINESS CONSULTANTS s MEMBER of the Canadian I.C. & I Council

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201-1449 St . Paul St., Kelowna, B.C. V1Y 2E5

O f fice: Fax:

250-862-8100 250-984-0803

Syd Berisoff

Larry Berisoff

Jody L. Miller

Agent/Broker

Associate Broker

Personal Real Estate Corporation

syd@syberrealty.com

larry@syberrealty.com

jody@syberrealty.com

To view photos on these and other opportunities visit our website

CRANBROOK B.C. s 5NIT -OTEL ON -AIN 2OUTE s +ITCHENETTES "EDROOM -ANAGERS 3UITE s 2OOF 2EPLACED /UTDOOR 0OOL s -ANY 5PDATES 6ERY 3OLID )NCOME s $ 1,275,000

NEAR WILLIAMS LAKE s 0AD -(0 n /CCUPANCY s &IRST 4IME /FFERED 3INCE s 3EWER n,AGOON 7ATER n7ELL s /N 3ITE -ANAGER s $ 699,000

www.syberrealty.com

TRANS CANADA s 5NIT -OTEL 'AS "AR # 3TORE s "EDROOM (OME !PARTMENT s 'REAT %XPOSURE ,AKE 6IEWS s 3ELLER -AY &INANCE "RING 9OUR )DEAS s 2OOM TO EXPAND STORE s $ 1,100,000

REVELSTOKE ! s 5NIT -OTEL 4RANS #ANADA %XPOSURE s .EIGHBOUR TO 3ANDMAN AND "EST 7ESTERN s 2EVELSTOKE IS "USY 7INTER AND 3UMMER s 3MALL 2ESTAURANT !VAILABLE 3ITUATED ON /VER !CRE s $ 3,750,000

NORTHWEST BC MOTELS s .EW (AZELTON n UNITS $ 395,000 s 4ERRACE n 5NITS s (OUSTON 5NITS 2ESTAURANT $ 1,700,000

GRAND FORKS

LIQUOR BUSINESSES

s 5NIT 3ELF 3TORAGE s "AY ,IGHT )NDUSTRIAL "UILDING s 'REAT FOR (ANDS ON /WNER WITH A "USINESS s "RING 9OUR )DEAS s $ 398,000

s 7EST +OOTENAY 0UB ,AND "UILDINGS s !RMSTRONG 0UB ,AND "UILDING s 1UESNEL 0UB ,IQUOR 3TORE s 6ALEMOUNT 0UB ,IQUOR 3TORE 0UB ,EASED 2EST ROOMS

s (OUSTON n 5NITS 2ESTAURANT $ 1,500,000

MOTELS s #LINTON n UNITS $ 259,000 s #ACHE #REEK n 5NITS $ 319,000 s 2ADIUM 5NITS 'REAT ,AND $ 379,900 s #ACHE #REEK 5NITS #OMMERCIAL 3PACES $ 399,000 s 3ALMON !RM n 5NITS (OUSE s #HRISTINA ,AKE n 5NITS 3UPER 3HOP s !INSWORTH (OT 3PRINGSn 5NITS (OUSE $ 599,000 s 0RINCETON n 5NITS )NDOOR 0OOL $ 988,000 s &ERNIE -OTEL 26 3ITES $ 1,200,000

BOWRON LAKES s 4HE &ANTASTIC "ECKER S ,ODGE s !CRES n 7ATERFRONT s #ABINS 26 3ITES 3TORE

s SQFT ,ODGE WITH 2ESTAURANT s !LL IN ! #ONDITION s $ 2,200,000

RIONDEL B.C. s 4OWNS /NLY 'ROCERY 3TORE s 0OSTAL ,IQUOR /UTLETS s "AKE OFF 3TEADY "USINESS s 'REAT !REA TO ,IVE s

s .ELSON n 5NITS #OIN ,AUNDRY 2ETAIL 3PACE s 2AMADA n 5NITS $ 1,995,000 s ,AKE #OUNTRY n 5NITS YRS OLD $ 1,995,000 s /SOYOOS n 5NITS "REW 0UB 2EST $ 2,675,000 s 2AMADA n 5NITS 2EST

$0/5&/54 '&#36"3: */5&3*03 # $ Â… "-#&35" Â… 4"4,"5$)&8"/ Â… ."/*50#" 4&$5*0/ On the cover Steve Paccagan, president of Kicking Horse Resort that has been sold to Resorts of the Canadian Rockies. Photo: Kicking Horse Ski Resort

FEATURES 14 0/ 5)& $07&3 ,JDLJOH PGG B SFTPSU SFDPWFSZ

Sale of Kicking Horse Ski Resort may signal turnaround

5

,BNMPPQT EFCBUFT PQFO QJU NJOF QMBO

Jobs, sure, but many worry about environmental damage

23 (VUMFTT JO 3FHJOB

City is booming but speculators still expect tax breaks Download a PDF of all our Regional Roundups online at www.westerninvestor.com

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23–26 4"4,"5$)&8"/ ."/*50#" 3&"- &45"5&

COLUMNS 21 25 26 27

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6 0 4 - 6 6 9 - 8 5 0 0 o r 1 - 8 0 0 - 6 6 1 - 6 9 8 8 f a x : 6 0 4 - 6 6 9 - 2 1 5 4 i n f o @ w e s t e r n i n v e s t o r. c o m w w w. w e s t e r n i n v e s t o r. c o m 1 0 2 E a s t 4 t h A v e n u e , Va n c o u v e r, B . C . V 5 T 1 G 2

#/--%2#)!, 02/0%24)%3 ). +%,/7.! !2%! s #100-1553 Harvey Ave., Kelowna, BC V1Y 6G1 PRIME DEVELOPMENT SITES – WINFIELD TOWN CENTRE

APPROXIMATELY 115.68 ACRES – LAND ASSEMBLY IN NORTH GLENMORE/UNIVERSITY DISTRICT.

FULLY SERVICED AND READY TO BUILD Lot 1 & 2

2.93 ac.

$ 3,899,000

Lot 1

1.71 ac.

$ 2,500,000

Lot 2

1.22 ac.

$ 1,500,000

Lot 3

.90 ac.

$ 1,000,000

Lot 4

2.67 ac.

$ 3,250,000

6.5 Acres Asking: $6,500,000,000 MLSŽ (Plus DLC – Latecomer Charges)

MINUTES FROM KELOWNA'S INTERNATIONAL AIRPORT.

Rare, New, Fee Simple Mixed Use Building! +/- 6,581 sq. ft. – 6 strata units - 3 tenanted, residential & 3 commercial units incl. a full height basement to utilize for storage, etc. It's a BUY! Newly constructed corner fee simple mixed use building is completed, 2nd r. 3 Residential tenanted Suites. Main r. consists of 3 commercial strata units, +/3,354 sq. ft. - ideal for retail, professional or commercial use. Superior construction! Commercial bays are available for viewing at any time. Full Building: $2,000,000, Asking Commercial: $1,2000,000 plus HST MLSŽ

One side abuts golf course in Quail Ridge. Gravel Pit is a permitted use! Lot D 70.80 Acres $5,318,000 Lot 1 15.63 Acres $1,315,800 Lot 9 11.62 Acres $ 962,200 Lot 10 9.10 Acres $ 773,500 Lot 8 8.98 Acres $ 763,300 This assembly comprises 5 lots that can be purchased individually or as a complete package. Asking: $9,132,800.00 MLSÂŽ

COURT D SALE ORDERE

LOWER MISSION EXCLUSIVE OFFERING – INVESTMENT PROPERTY on Lakeshore Road. +/- 4500 sq. ft. building with 10 bedrooms, 4 ½ baths. 1.13 acres on at site located at the corner of McClure and Lakeshore Road. Endless possibilities. Asking: $1,600,000.00 MLSÂŽ

LAKESHORE NEAR GYRO BEACH Spectacular Level Lakeshore property! Prime location. 0.4 acre offering 66 ft of waterfront. Sandy beach, licensed boat dock. 4 bdrm. 2 bath home with suite on main level. Call Ken or Kris for Details MLSŽ LEASE OFFERINGS – KELOWNA, WEST KELOWNA AND LAKE COUNTRY Industrial - Kelowna

INDUSTRIAL ZONED I2 – 2 warehouses available for Lease. 1 - 20,000 SF, unheated, sprinklered, 20 ft ceilings, 12‘ O/H door and 1 loading dock. 2 ofďŹ ces, reception area & 2 washrooms. Second building +/- 7,281 SF warehouse – main r 1,200 SF, Warehouse/shop on main +/- 6,081 SF, 20’ ceilings Heating, natural gas with 2 – 150,000 BTU unit heaters. 1,200 SF OfďŹ ce and mezzanine storage. Loading dock is shared. Parking accommodates 12 cars. Minutes to main Hwy and Kelowna airport. Lease Rates: $8.00 and $9.50 PSF plus Tnet + HST MLSÂŽ

Retail/OfďŹ ce - Kelowna

7,281 - 20,000 SF

OfďŹ ce/Warehouse

1,569 – 2,619 SF

New Tilt-Up

1,000 – 5,000 SF

Pandosy Area

1,990 SF

Downtown Kelowna

3,899 SF

Retail/OfďŹ ce

Service Commercial – Kelowna 3,176 SF

Commercial Mix

944 SF

OfďŹ ce

1,100 – 3,300 SF

Retail/OfďŹ ce

Retail/Pad Sites - Lake Country 2,500 – 8,000 SF

Retail/OfďŹ ce

Retail/OfďŹ ce - West Kelowna

SUCCESSFUL FRANCHISE LOCATION AVAILABLE - PANDOSY CORRIDOR

Successful franchise location available specializing in laser hair removal. Strong brand & solid client referral base already in place. Owner/operator buyer is ideal, but it still makes great money from an investor only standpoint. Located in the forever growing Pandosy corridor. Great opportunity to buy yourself a career! Available: $324,900 plus HST MLSÂŽ

WEST KELOWNA IS KRAFT HOCKEYVILLE!

B4 Interior British Columbia DEVELOPMENTAL LAND AND

HUGE PRICE

GOLF COURSE FOR SALE

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

INDUSTRIAL PROPERTY C o l d s t ream / Ver non

IN THE BEAUTIFUL BC INTERIOR

REDUCTION Osoyoos View Land 3 acres. Far below appraised value. If no subjects offer needing no financing we will take as low as $180,000. Clear title.

UÊ ÓxÊ VÀiÃÊ vÊ iÛi Ê `ÕÃÌÀ > Ê > `Ê­< i`Ê Ó®

162 Acres s 9-Hole Golf Course s Club House s Residence s Trades Considered

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UÊ ÝVi i ÌÊ>VViÃÃÊÌ Ê iÜÊ ÜÞÊÈÊÀi> } i ÌÊ EÊ ÌiÀÃiVÌ ÃÊÃV i`Õ i`Êv ÀÊ-«À }ÊÓä£Ó UÊ ÃÌÀ VÌÊ* ,ÊEÊ } iiÀ }Ê* }°Ê Ê« >ViÊv ÀÊ >ÝÊÇÊ >À}iÊ ÌÊ Õà iÃÃÊ*>À Ê UÊ V> Êà ÀÌ>}iÊ vÊV i> ]ÊL>ÀiÊ `ÕÃÌÀ > Ê > `Ê «À Û `iÃÊà } wV> ÌÊ «« ÀÌÕ ÌÞ

Dwight Vos 250.371.7992

contact PETE hormes@shaw.ca or (250) 497 5689

"vviÀi`Ê>ÌÊ$2,400,000

Tracy Mackenzie 250.318.2938

OKANAGAN – B.C. INTERIOR

MERRITT

MERRITT

Wagon West Travel Centre *15,800 sq/ft building *4.522 acres *Gas bar, 24 hr convenience store, Greyhound bus deposit, restaurant *Gross sales $6,510,740 Net $220,860 $4,400,000

Wagon West Travel Centre adjacent land *1.38 acre C-3 zoned lot $590,000 *1.78 acre C-3 zoned lot $780,000 *32.27 light industrial property For lease or sale Other parcels also available

David Peressini Email: dperessini@shaw.ca 250-374-1461 or 250-371-3022

250.801.8380 / Doug.Roberts@Telus.net

BEST-WEST REALTY LTD. 250.554.4511

I N V E S T M E N T

CHRISTINA LAKE CAMPGROUND BUY NOW! SEASON STARTS APRIL 1

FIRST TIME ON THE MARKET IN OVER 20 YEARS ! UÊÇxÊ- ÌiÃÊÜ Ì Ê Õ ÊEÊ*>ÀÌ > Ê-iÀÛ Vià UÊ >ÃÞÊ>VViÃÃÊ vvÊ } Ü>ÞÊÎ UÊ Õ Êv>V Ì iÃÊ V Õ` }Ê« UÊ"«iÀ>ÌiÃÊ >ÞÊ£ÊÌ Ê-i«Ìi LiÀÊ£xÊ

YOUR CHOICE OF TWO PURCHASE OPTIONS VERNON SELF STORAGE BUSINESS OPPORTUNITY

VERNON & AREA

Option 1Ê Õà iÃÃÊ" ÞÊ Ê i>ÃiÊ > `ÊEÊ Õ ` }à £ä¯Ê,>ÌiÊ vÊ,iÌÕÀ ÊÊPrice $1,899,000

TRADES CONSIDERED ON SELECT PROPERTIES PREMIUM STORAGE YOU OWN! GARAGETOWN - VERNON Premium Storage with a difference- YOU OWN IT! - 47 fully customizable units. 20x48, 24x48 and larger w/14’ overhead doors plus a drive-through model. Ideal for RVS, boats, collectors, retail and business overflow. Level 3 acre site w/ quick access to all major routes. Fully furnished Owners Lounge! Offering preconstruction incentives from $125,900 MLS®

TOURIST COMMERCIAL ON OKANAGAN LAKE .23 level acre across from public beach! Older home with long term tenant. $650,000 MLS® RETAIL/WAREHOUSE WITH SUITE 10,800 sq.ft - flexible use. High visibility on main commercial road across from Mall. Tenant would like to stay. Great holding property. $995,000 MLS® RV SALES AND SERVICE BUSINESS. High profile location in SALMON ARM . Well established, thriving & profitable. New and used sales, servicing, rentals, counter sales. Lease available. $499,000 MLS® SERVICE COMMERCIAL BUILDINGS 50x158 yard w/lane access. Updated Building with 5 offices, workspace and storage $270,000 MLS®

Option 2Ê Õà iÃÃÊ« ÕÃÊ > `ÊEÊ Õ ` }à ǯÊ,>ÌiÊ vÊ,iÌÕÀ ÊÊPrice $4,199,000 UÊÊÓ°Ç£Ê VÀiÃÊUÊ, Êv ÀÊ Ý«> à ÊUÊÊ } Ê Ý« ÃÕÀiÊ V>Ì UÊÓxnÊ1 ÌÃÊÊUÊÊ > >}iÀ½ÃÊ,ià `i Vi UÊ* ÕÃÊnäÊ"ÕÌ` ÀÊ-Ì À>}iÊ-«>ViÃÊÊ UÊÊ-i iÀÊ >ÞÊV>ÀÀÞÊ ÀÌ}>}i UÊ VÀiÌiÊL V ÊV ÃÌÀÕVÌ ÊÊUÊ À ÃÃÊf{nä]äää³É Ê UÊ ° °Ê/ «Ê£äÊ1 >Õ Ê V>Ì ÊÊ Ê

FORECLOSURE SALE - FORMER GOLF COURSE

OLD

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Level paved .95 acre w/fenced compound. Across from major mall, few blocks from downtown core. 10,900 sq.ft. building $1,395,000 MLS® COMMERCIAL STRATIFIED OFFICE 2000sq.ft 3-4 offices, workspace, kitchen, baths, onsite parking.

UÊ{° £Ê VÀiÊ Vi ÞÊ/Àii`Ê*À «iÀÌÞ UÊ ÃiÊÌ Ê >À}iÊ«ÕL VÊLi>V UÊ ÝVi«Ì > ÞÊÜi Ê > Ì> i` UÊ*iÀviVÌÊv ÀÊÃi ÊÀiÌ Ài`ÊV Õ« i

Motivated Seller Asking $699,000

Westwin Realty

CARWASH – WILLIAMS LAKE Profitable and well maintained! Great Family operation or for absentee owner. ½ acre lot, 3 high pressure truck and 3 medium pressure car bays, new detailing business. $949,000 MLS®

O P P O R T U N I T I E S

Asking Price $1,200,000

$479,500 MLS®

SERVICE COMMERCIAL DEVELOPMENT SITE Ideal for end user or subdivision. Fully serviced area w/access from 2 or 3 roads. Zoning allows for 10,800 sq.ft +. Multiple uses including residential above main floor. $5,750,000 MLS® TOURIST COMMERCIAL .45 acre w/ highway visibility and easy frontage road access. Neighbourhood of car/boat dealerships and bulk service stations. Concrete 2 storey bldg w/two storefront units, mega storage/office space and residential suite.. $599,000 MLS® INDUSTRIAL SITE! Nearly 3 level acres on frontage road with high exposure to highway. Ten minutes to city centre. Ideal for manufacturing business. Plans for building available. $888,000 MLS®

PRIME FARM-HOLDING LAND - OSOYOOS UÊ À iÀÊ- ÌiÊ Ê } ÊÌÀ>vwÊV]Ê } ÊiÝ« ÃÕÀiÊ Ê V>Ì ÊÜ Ì Ê£äää³ÊvÌ°Ê } Ü>ÞÊÎÊvÀ Ì>}iÊ UÊ/ Ü ÊÃiÜiÀÊEÊÜ>ÌiÀÊ>ÌÊ ÌÊ iÊ UÊ6iÀÞÊV ÃiÊÌ Ê > iÊ UÊ V Õ`iÃÊ ÕÃiÊEÊ «iÀ>Ì }Ê ÀV >À`Ê UÊÊ Ài>ÌÊ V>Ì Êv ÀÊv>À Ê}>ÌiÊÜ iÀÞÊ ÀÊ >}À Ì ÕÀ à ÊLÕà iÃÃÊ Asking Price

IDEAL FOR WATER BASED BUSINESS .51 level acre zoned I1 Light Industrial. 18’ x 30’ shop and 3 bdrm house. Located between downtown and yacht club/boat launch. Next to airport. Rare Find! $399,000 MLS® KALAMALKA LAKESHORE RETREAT 2.54 acres in two legal title with approx 250ft.of level, private beach. No thru road. . Gorgeous grounds Amazing home with 7 bedrooms with baths, spacious living areas and a stratified two bedroom suite . 10 mins from City and 30 mins from Kelowna international airport. One of a kind! Exceptional value! $3,900,000 MLS®

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$1,695,000

TOWN HOMES WITH STORAGE ... FOR ALL YOUR TOYS ! ONLY 7 HOMES LEFT

UÊ9 ÕÀÊ Ü Êi V Ãi`]Ê ÊVi }ÊÃÌ À>}iÊL>ÞÊ >À}iÊi Õ} Êv ÀÊ>Ê{xÊvÌ°Ê Ì À i UÊ ÕÝÕÀ Õà ÞÊ>«« Ìi`Ê£ÊLi`À ÊÌ Ü iÊUÊ i` >ÌiÊ VVÕ«> VÞ UÊ6 à ÌÊwww.cactusflats.caÊv ÀÊ ÀiÊ v À >Ì Offered at $299,000. HST INCLUDED!

1-800-317-1118 or 1-250-549-7050

www.okanaganhomes.com Fax: 1-250-549-1407 PRISCILLA & CO. Re/Max Vernon

info@okanaganhomes.com 5603 27 St., Vernon, BC V1T 8Z5

VADIM KOBASEW CO M M E RC I A L R E A L ES TAT E S P E C I A L I S T

250-492-2233 / 1-800-567-6770 RE/MAX FRONT STREET REALTY, PENTICTON, B.C.

B5

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

REGIONAL ROUNDUP Giant copper play would bring jobs, but some say environmental cost is too high

,BNMPPQT¤ QJU TQMJU WESTERN INVESTOR ews that Teck Resources Ltd. is investing heavily in its Highland Valley Copper mine near Kamloops and the buzz around this ThompsonOkanagan city of the potential for a new open-pit copper mine on the edge of town is all part of an apparent reversal in direction for B.C.’s third-largest city.

/

Teck president and CEO Don Lindsay said the company will spend $475 million in modernization at the 40-year Highland Copper mill. Work has already started and the project, which is expected to boost production by 10 per cent, should be complete next year. “We have significantly extended the life of the Highland Valley Copper mine in recent years, and the modernization of the mill makes sense, especially given the expected increases in throughput and copper recoveries,” he said. The Highland upgrade is good news for Kamloops, which for decades depended on the mining industry for economic growth and jobs. That vision changed over the past few years, as the city reinvented itself as the go-to destination for recreation and resorts. That plan was good while it lasted. Real estate values soared and developers stumbled over each other planning and building some of the most expansive resort properties in the province. As late as last year, the Alberta-basedReal Estate Investment Network ranked Kamloops as the top B.C. Interior town for real estate investment opportunities. But the failure of the landmark Tobiano golf resort on Kamloops Lake (now under court protection) and the Mission Hill resort project (just now rising from the ashes of receivership ), and the shock of a wholesale drop in residential prices this year (for the first time in a

from Ottawa and Victoria forecast for spring of that year. The Vancouver-based firm, junior partner with Polish-based KGHM in a joint venture, said its study presents a solid business case and lays out the engineering basis for the proposed 60,000-tonne-per-day operation at the site of a historic pit. Abacus president and CEO Jim Excell said the study – comprising 18 months of effort by consulting experts in mining, finance and engineering – proves the proposed mine is viable. Executives said they are targeting May 2013 to receive environmental approvals from Ottawa and Victoria. Construction would start later that year, with mine production set for the middle of 2015. With copper and gold prices only slightly higher than today’s levels, the study predicts the mine would pay back the nearly $800 million development cost in as little as two years. It Abacus president and CEO Jim Excell: proposed is forecast to produce ore for 23 years, $800 million Ajax open-pit mine at Kamloops is employing about 400 people. “viable.” But local opposition is mounting. Excell said the next 90 days are a decade) may have many in the city nostalgic key period for the project, which has run into for the days when mineral prices, not real estate controversy in Kamloops because of its proximity to residential areas. The mine would values, dictated the economy. They may soon see those big-spending min- be operating within about 1.5 kilometres of ing days return, if the backers of the $800 mil- Kamloops neighbourhoods. lion open-pit Ajax Mine have their way. Under the joint-venture agreement, KGHM, While capital costs are 50 per cent higher one of the world’s largest mining companies, than forecast two years ago, a newly released has 90 days to determine whether it will confeasibility study demonstrates the economic tinue the partnership by purchasing another 29 viability of the proposed Ajax Mine, promot- per cent of the joint-venture company, requiring it to come up with $640 million to finance ers say. Abacus Mining and Exploration Corp. the project. said it hopes to start construction of the openAjax is also in the midst of a harmonized pit copper-gold mine in Kamloops late in comprehensive environmental assessment 2013, following an environmental approval overseen by the provincial and federal govPhoto: Kamloops News

CAM FORTEMS/WI STAFF

ernments. A 60-day public comment period that will help focus environmental studies began in midJanuary and includes a two-day information meeting this month (February). “Now we can be focused on talking to people and hearing the issues,” Excell said. That should be a lively discussion. There is stiff opposition to the mine in Kamloops, led by the Kamloops Area Preservation Association (KAPA). Its website, www.stopajax.com, calls the mine “a huge, dusty open-pit operation ... a large part of which would be within the Kamloops City limits.” KAPA, which has support, judging from letters to the Kamloops News, also claims the mine would pollute nearby rivers and lakes. But the mine would mean secure jobs. The unemployment rate in the Thompson-Okanagan area is down to 7.2 per cent, compared with 8.6 per cent a year ago, according toStatistics Canada, but remains above what is considered healthy for a city of 85,000. Some of the lost jobs were in residential construction, which had been a job generator. Last year, Kamloops housing starts plunged 20 per cent, with singlefamily starts down nearly a third from a year earlier, according to Canada Mortgage and Housing Corp. (CMHC). This year starts are expected to remain at 500 units.

3FTPSUT SFCPPU

When residential assessments began arriving in Kamloops mailboxes last month, they showed that the average home value had fallen 1.4 per cent from a year earlier, not a lot but the first time in 10 years that prices had dropped. The assessment authority values homes at July 1 the preceding year, but Graham Held, deputy assessor for the BC Assessment Authority, said little market shift occurred in the past six months. “It still looks pretty flat.” Brian Ledoux, president of the Kamloops District Real Estate Association (KDREA) said the slightly declining prices come as no surprise. The association calculated the median price for a single-family home here was down

Please see Rebooting page B6

*OUFSJPS #SJUJTI $PMVNCJB

FOR SALE

KAMLOOPS AIRPORT

SUBJECT PROPERTY DOWNTOWN KAMLOOPS

MULTI-FAMILY RESIDENTIAL DEVELOPMENT LAND GUERIN ROAD, KAMLOOPS, B.C. This multi-lot, multi-family development offers sites ranging in size and development type including:

SUM M IT TD RIV E

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Bare Land strata for compact single family development Compact single family residential lots Multi-family townhouse style development Multi-family 3 to 4 storey apartment Plans for up to 350 units Walking distance to Thompson Rivers University

These fully serviced lots will be available for purchase and development in mid 2012. Representing a strategic central city location with unparalleled views, in close proximity to all amenities, shopping and downtown Kamloops.

Subject Property

Robert Gritten

Avison Young Commercial Real Estate (B.C.) Inc. D: 604.647.5063 E: robert.gritten@avisonyoung.com

E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young Commercial Real Estate (B.C.) Inc. — 2012

A great life for a semi retired couple!

More information, reg_gb@msn.com or 778-479-2442 eves. (Peachland)

Assessed real estate values down for the first time in 10 years.

2VJDL GBDUT Cache Creek

5

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VERY BUSY waterfront Ladies Boutique specializing in ladies fashions, shoes and a prestigeous jewelery and hand bag line. Considered to be “THE” boutique in the Okanagan with many requests to franchise. Asking $800,000. Is supported by the Statement of Income and includes training, industry insight and more.

about 1 per cent, to $327,000, at the end of last year. According to the BC Real Estate Association, the residential sales in Kamloops were down about 5 per cent in 2011, compared with a year earlier. The KDREA is forecasting home sales will increase 4 per cent this year, with the average home price dropping 1 per cent to $299,000. More encouraging is a16 per cent increase in commercial real estate sales through MLS, in December 2011, compared with year earlier. However, while commercial sales were up, the total dollar volume for the 22 properties sold that month was down more than a third from a year earlier. The suggestion: lower prices across the board. The developer who has taken over the troubled Mission Hills condo project is fervently hoping for a market upturn this year. With the restarted project nearing completion, the city’s director of planning speculated units in the first phase will hit the market by this spring. Edmonton-based Harbour Mortgage foreclosed on the project in December, taking original developer New Future Group and all creditors off the title. The project will restart with a clean title, one 60-unit building nearly completed, a second that is partially completed and a third with a

foundation in place. “They wanted to know what’s needed and steps to get the building finished,” said Dave Trawin, the city’s development and engineering services director. The first building was presold over a weekend four years ago. But when developer Mike Rink didn’t meet requirements for completions, buyers were able to cancel the deals and receive back deposits. Two-bedroom units sold for $350,000 in 2007. Kamloops realtor Vince Cavaliere said units will have to be priced under $300,000, where there is market activity. “The price point they’re going after appeals to the majority of buyers. The challenge as an investor is what will they rent for? What’s your return on investment?” The question of investor rentals is an astute one. The residential vacancy rate in Kamloops is now 2.9 per cent, up from 2.6 per cent a year ago, reports CMHC. The average rent for a two-bedroom apartment rose to $747, up from $742 in 2010, however. Meanwhile, the Tobiano golf resort is seeking a buyer for the 1,100-acre property on Kamloops Lake. A recent report by the court-ordered receiver noted Pagebrook, the developer, “has been in discussions with potential Asian investors who claim to be interested in the project.” But receiver Doug Chivers, with Vancouver-based Bowra Group, said no offers have been forth-

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PEACHLAND, B.C.

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

Co

B6 Interior B.C./Business Opportunities

Chilliwack

,BNMPPQT #$ Population 85,000 Average house price $300,000 Major employers Government, mining, tourism

coming for the resort despite efforts to sell the project. Tobiano was forced into receivership by the Bank of Montreal in June last year. An appraiser valued the development last year at $49 million, “but stated that if the property was marketed en bloc the value could be less than that amount.” The project could be made more attractive to purchasers by focusing on smaller, less-expensive units and changing its master plan, according to to Bowra. It has contracted with Ecosign Mountain Resort Planners Ltd. to look at changing that plan.◆

Reasons To Invest In Residential Real Estate In Kamloops: PHASE 2 NOW SELLING In Kamloops, British Columbia

Financial Times Group’s Foreign Direct Investment Magazine report on “North American Cities of the Future”, Kamloops ranked as one of the five best Micro cities to invest in.

OPEN HOUSE HOURS: THURSDAY- SUNDAY from 1-4 PM OR CALL FOR AN APPOINTMENT

- Kamloops is the 3rd best town in BC to invest in Real Estate as suggested by Don Rein in his report in 2011 - Third largest city in BC outside the lower mainland - Major transportation hub for the Province of BC - As a popular recreational & vacation area Kamloops attracts many young families seeking lifestyle choices - Cultural experiences include theatre, arts and music - Competitive development and business costs attracts a variety of new opportunities to the Region - Increased mining activity expected in the next 2 – 5 years will add several hundred jobs to Kamloops area - Increase in forestry expected as lumber sales to US & China increase - Beef prices expected to stabilize which will support the cattle industry

CONDOS STARTING AT $179,900 Investors and Residents are offered a 10 year holiday on the City of Kamloops tax portion of their property taxes. Please call and ask about the tax holiday.

- Substantially lower housing prices compared to Lower Mainland - Growing population of singles, families and retirees - International Student population expected to increase at Thompson Rivers University

Deborah Petersmeyer or Mona M. Murray Office: 250-372-2277 Cell: 250-819-1108

v J LÀ>ÀÞõÕ>Ài > «Ã°V ÊÊÊUÊÊSales Office On-Site at 689 Tranquille Road

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www.mcmrealestate.ca

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

Interior/Northern British Columbia B7

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OSOYOOS $1,250,000 + HST Please visit our website or call for more details.

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Investment Properties

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Tim Down AACI, P. App, CAE, RI(BC) "Professionalism You Can Trust"

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BLOCK MOTEL $695,000

MAINLY SENIORS. BUS STOP IN FRONT. ALWAYS FULL.

LARGE REDEVELOPMENT PROPERTY.

DEV. PROPERTY $669,000

HOTEL, LIQUOR STORE, RESTAURANT $499,000 LE

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UĂŠĂŠ >Ă€}iĂŠ >V…ˆ˜iÉ7iÂ?`ˆ˜}ĂŠ-Â…ÂœÂŤĂŠâ€“ Suitable for investor or owner/operator. Includes land & buildings. fĂ“°Ă“xĂŠ ˆÂ?Â?ˆœ˜ UĂŠ ˆViÂ˜Ăƒi`ĂŠ >Ă€iĂŠ >VˆÂ?ÂˆĂŒĂžĂŠ qĂŠ >“Â?ÂœÂœÂŤĂƒĂŠ – 9 bedrooms, 7 bathrooms on spacious lot. Built in 2008. Has all amenities needed. Well-priced atĂŠfĂˆĂ‡x]äää COMMERCIAL BUILDINGS UĂŠ >“Â?ÂœÂœÂŤĂƒ – 6100 sf bldg. Large yard

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phone: (250) 554-4511 toll free: 1-866-456-0577 BEST-WEST REALTY LTD. KAMLOOPS email: dvos@kadrea.com

RE/MAX Kelowna Westside

600 FT OF HWY FRONTAGE FOR AUTO DEALER & BODY SHOP.

SALLY SCALES sallys1@telus.net or 250-832-4831

DWIGHT VOS

Cell: 250-864-9140 Toll: 1-800-367-3339 tim@timdown.ca www.timdown.ca

COLDWELL BANKER COMMERCIAL WORLDWIDE 30 UNIT APT $1,650,000

14 apartment condominiums to be built to complete the 38-unit Valley Vista on a two-acre sloping property. Excellent view of Shuswap Lake from one side, forest on the other. Onebedroom, 600 sq. ft., two four-plexes and a six-plex. Some suites are level entry. Can be rented. Quiet pets welcome. Modulars built by SRI Homes in Kelowna. Foundations are ready and waiting for the two four-plexes. All services and driveways are in.

BUSINESS AND INVESTMENT OPPORTUNITIES

OKANAGAN OPPORTUNITIES Acreages

Possible VENDOR FINANCING and asking under $2 M.

r Parksvillewaynesalter@shaw.ca Qualicum Beach Realty

Well established Towing and Recovery business in Dawson Creek BC. "Exceptional Towing & Recovery Ltd." 150 X 150 Chainlink fenced, grave/asphalt compound, 1 bay heated garage, dispatch/offi ce unit w/services, storage shed. Zoned M-2 Light Industrial. All Equipment included with list available upon request.

For Sale or Lease $575,000 9630 sf on 3 levels, separate entrances completely refurbished since 2006 ideal for retail, design & professional offices

monarkinvestments.ca

Exciting opportunity to purchase the final 4 phases of this unique waterfront acreage subdivision. Perfectly located at Lac Des Roches in the Cariboo offering recreation\retirement marketing to the Vancouver\ Calgary\Edmonton markets. This gated community offers 4 season recreation with water-skiing in the summer and cross country in the winter.

CALL 604-725-4872 or 250-826-2284 EMAIL: jvdevgroup@gmail.com

LUCRATIVE BUSINESS OPPORTUNIT Y

Prime, high profile location $749,500 Hwy access near Costco & Future Shop 3664 sq ft building on 1/2 acre lot zoned M3 - Business Industrial

10 INCOME PRODUCING LAKEFRONT RV LOTS

68G:6<: HJ79>K>H>DC

Wayne Salter

7.32 ac along the Nechako River $545,000 zoned res - not in the ALR - subdividable approx 460’ of riverfront, nicely treed easy access to downtown & UNBC

1 BDRM + DEN NEW PRICE $479,000

L6I:G;GDCI

For Sale Kamloops North Shore corridor 1 acre with 2 titles, rare ďŹ nd for the right investor and developer for high rise, timing is everything.

TIME & PLACE RESTAURANT & PUB $489,000

CHATEAU MANOR $2,490,000

QUALITY INN 48 ROOMS RESTAURANT $2,590,000

GOLDEN LIFE 20 UNITS & MANAGERS SUITE. GROSS $390,000/YR.

NICELY LOCATED AT THE CROSSROADS OF THE KOOTENAYS.

DRY CLEANER $89,000 NICELY EQUIPPED. THE ONLY ONE IN THE CITY.

LIGHT INDUSTRIAL BLDG $425,000 4 LARGE LOADING DOORS. OFFICES & MEZZANINE.

AUTOMOTIVE BUSINESS HIGH VOLUME LARGE EQUIPMENT PACKAGE

MILANOS PIZZA $169,000 THIS TAKEOUT IS ESTIMATING "400,000" IN 2012.

14 minutes to the airport and 38 minutes to Sun Peaks.

Call for details 250-376-7826

marketing your franchise? Call Christine at the

$159,000 1ST TRAIL REAL ESTATE LTD.

(250) 231-5222 (CELL)

www.cbcworldwide.com www.coldwellbankertrail.com

(250) 368-5508 (FAX)

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

B8 Northern British Columbia

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www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

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— Your PRINCE GEORGE Commercial Professionals —

D SOL

4350 Handlen Rd – ‘Court Ordered Sale’

2977 Ferry Ave. FOR SALE – 0.8 Acres on corner of Ferry Ave. & Ospika Blvd. C-6 zoning.

5,525 sq ft concrete block building on .99 Acres. Zoned C-6.

1440 – 2nd Ave.

9080 Penn Rd.

Extremely well maintained quality 5,386 sq ft OFFICE building. Vacant possession June 2012.

FOR LEASE – 25,660 sq ft quality warehouse located in the Danson Industrial Park.

5083 & 5075 Domano Blvd.

1108 Boundary Rd.

FOR LEASE – Prime College Heights RETAIL/OFFICE space. Visually desirable location. Net Lease.

FOR SALE - 9,000 sq ft cement block building on 2 Acres, fenced compound. Building has been renovated & updated. Land has been graded for proper drainage. 3-phase power.

9368 Milwaukee Way

760 Kinsmen Pl.

New ďŹ rst-class building in prime location. Ready for occupancy September 2012. Main oor 4,300 sq ft available and daylight basement 2,000 sq ft. Zoned C-4.

FOR SALE - 31,640 sq ft major fabricating/ manufacturing facility (28’ ceilings). Located on 3.74 Acres, fenced yard, cranes, quality ofďŹ ces.

9543 & 9565 Anzac Cres. FOR SALE - 1.88 Acres. Zoned M-2. Industrial lots, cleared, level & serviced.

1437 North Fraser Dr. – Quesnel FOR SALE – Court Ordered Sale 38.5 Acre property. 604 sq ft stand alone ofďŹ ce. Main 3,498 sq ft concrete block 4 bay truck shop, with 1,628 sq ft addition attached. A 2,160 sq ft storage building with a 648 sq ft wood frame storage shelter. A sand/gravel business historically operated from this site, however no licensing permits have been conďŹ rmed.

1550 – 1st Ave.

1921 Upland St.

ONE OF A KIND OPPORTUNITY. 3 concrete block warehouse on 3 Acres. 44,080 sq ft total space. Well maintained with 11 loading doors, 13 O/H doors, 3 phase power & highway access.

FOR SALE – Exceptional 12 unit apartment building. Good location, well maintained property. 8% Cap Rate.

2222 Balsam Ave. – Quesnel,B.C.

508 George St.

8,200 sq ft fully equipped 250 seat restaurant. Previously ‘Tony Roma’s ‘ franchise. Completely renovated & equipped.

Highly visible first class 12,177 sq ft main building. Also has warehouse, two ministorage warehouses & caretakers mobile home.. Highway access o

www.pgcommercial.ca RE/MAX Centre City Realty Each ofďŹ ce is independently owned and operated

GEORGE Weinand

250-960-9556

KEN Goss

250-565-7653

THINK REAL ESTATE...The Best Investment on Earth

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

Northern British Columbia B9 NORTHEAST BC REALTY Ltd.

Sicamous, BC Multi-Unit Residential

Phone 250 785 4115

“Investing Our Energy In The North� Located at 10220 101 Avenue Fort St John BC V1J 2B5

r 6OJU 3FTJEFOUJBM 5PXOIPVTF 1SPQFSUZ r 1PUFOUJBM UP TUSBUJGZ VOJUT GPS SFTBMF r (SPTT QPUFOUJBM SFWFOVF PG ZS r "OOVBM FYQFOTFT UBYFT XBUFS TFXFS JOTVSBODF

Reduced to $839,000 (sold in 2007 for $1,000,000). "QQSPY NPSUHBHF QNU PO NP

Email: tekamar@telus.net or call: 1-800-658-2345 * Financing available O.A.C.

DAWSON

CREEK

www.dawsoncreekrealestate.ca

TOM MORAN 250-784-7090 tommoran@shaw.ca

LLOYD SMITH 250-784-7116 lloydsmith@shawcable.com

RE/MAX DAWSON CREEK REALTY 1-888-214-5871 DAWSON CREEK COMMERCIAL EXPERTS #132673 - In the centre of the City close to the traffic circle on Alaska Highway...1.55 acres of flat land with all new services to the property and bordered by 8th street and the paved roadway to the new apartment building. Excellent location, commercially zoned, will builld to suit. $290,000 #129953 - RETAIL BUILDING Great location on 10th St over 3,000 sq ft on main and additional 3,000 sq ft on second floor, located next to Scotia Bank. Ground floor now leased out to only video rental company in Dawson Creek. Asking price of $375,000

www.NEBCRealty.com

F: 250 785 4120

RON RODGERS - OWNER / MANAGING BROKER Email: ron@northeastbc.com

Restaurant Business For Sale

Well established location close to high traffic public event area of Fort St John, easy access from highway and 100 Street, high visibility and good customer parking. Price includes kitchen equipment and appliances, restaurant seating for 63 and place settings, and more. All inquiries be advised that a

Asking $1.97 Million

will be required prior to release of any information.

All inquiries be advised that a confidentiality agreement will be required prior to release of any information.

Call Ron to discuss

Call Ron for more information

EXCLUSIVE Listing

MLSŠ N4505233

FORT. ST. JOHN 8224 - 93rd Street 10611 - 100th Ave 1050 sq ft of ofďŹ ce w/ 5000 sq ft free standing hardwood  oors. Front building for LEASE reception & display offering a high trafďŹ c area & the shop with 3 bays, 1 is drive through/wash bay. Radiant heat, mezzanine area, 14’ overhead doors. Fenced corner location. compound all on city services.

$22.00/ sq ft + triple net MLS# N4504645

#130083 - Prime location on Alaska Ave. in Dawson Creek - close to all retail and downtown and still on main artery through the City. Total of 17,000 sq. ft. of new space and can be divided into whatever you need. Popular new restaurant now open, lots of parking.

#129952 - FOR SALE OR LEASE Multi purpose building with 2 units now leased leaving 11,000 sq ft. available. Upgrades include updated roof and furnaces Asking price is just $397,000

HIGHWAY

#130029 RETAIL STOREFRONT on 102nd Ave. for sale, 3500 sq. ft on a corner location, paved parking, good visibility can be used for ofďŹ ce, retail, or your own small business. Owner will consider leasing as well. Reduced to $119,000 as is

COMMERCIAL/INDUSTRIAL LAND Situated across from the EnCana event centre, Chances casino and new Holiday Inn this is a very desirable location. Total of three lots each approx 4.5 acres each, excellent visibility and access. Priced at $450,000 - $500,000 each

#130010 - WELDING / MACHINE SHOP for sale Includes 12’ door, 13’ ceilings, 3 phase power, 23o Volt/400 amp service. Gravel yard, 100 sq. ft. ofďŹ ce with shower & bathroom. Fire hydrant, 2 overhead cranes. $220,000

131875

-

FOR SALE OR LEASE 5040 sq ft building on busy Alaska Ave. Many uses, drive thru availability, lots of parking, next to government liquor store. Owner will consider dividing building into two rental units. Priced at $795,000 or $16.00 per sq ft to lease.

#129593: COMMERCIAL BUILDING WITH BEER AND WINE STORE for sale (gross sales of $2,000,000). Great location in Dawson Creek, also 40 apartments, bar/restaurant area and commercial space. Asking $3,500,000. Call for more info.

#129257: THE SOUTH PEACE UNITED CHURCH IS FOR SALE. OVER 11,000 SQ. FT. - Sanctuary, hall, kitchen, ofďŹ ces, and support services. Excellent corner location, zoned commercial, very good condition, ready for an ofďŹ ce or residential conversion. $495,000 #133401 - BUSINESS OPPORTUNITY located on the east side of Dawson Creek. Belsum Auto Recyclers Ltd has a proven track record and shows a good return. Includes 6.5 acres of prime industrial land on Hwy #49, a heated main shop with 3200 sq.ft. and an adjoining 2400 sq. ft. building used for stripping vehicles. Lots of inventory, and equipment includes 3 forklifts and a skid steer. Asking $1,200,000 for the land, buildings, and turnkey business with inventory. #133128: NEW STRIP MALL has 4 available spaces left for lease, 1,750 sq ft each. Great location on 8th street between Tim Horton’s & The Brick. Lease rates start as low as $16/sq. ft. Start your business here. Strip mall is 10,000 sq. ft. Also for sale at $1,800,000

L A N D #129635: RESIDENTIAL DEVELOPMENT LANDS, one parcel of 25 acres on the north west edge of Dawson Creek for sale, superb location for residential homes, the timing is right as we need more residential lots for our busy market place. Asking $625,000 #129877: ONE ACRE OF MULTIPLE RESIDENTIAL LAND suitable for 37 unit apartment or condo complex. Across from the hospital in a prime residential area of Dawson Creek. $179,000 #127836: SUBDIVISION FOR MOBILE HOMES! Total of 39 mobile lots are possible on this 4.6 acres, zoning in place, some services are already in, 3 lots have been subdivided. Call for more info. Asking $300,000

REDUCED $810,000 - MLS# N4504836

2160 SQ FT SPACE FOR LEASE

INVESTMENT OPPORTUNITY! 9705 - 103 Ave Well maintained 6-plex, this building offers 2-3 bedroom units; 2-1 bedroom units & 2 bachelor units. 100% consistent occupancy makes this a great long term holding property.

WILL BUILD TO SUIT - AIRPORT ONE ACRE LOTS Developer has 3 one acre lots in a row at the airport with highway frontage...will build a 5000 - 7,000 sq, ft. pre-engineered steel shop, provide a graveled and fenced yard with a 5 year lease starting at $ 14.00 per sq. ft. for the shell. Also willing to build and sell to tenant. One lot now leased and sold. Only 2 left! #127066: LOCATION, LOCATION, LOCATION 0.74 acres at the intersection of 17 Street and Alaska Highway. Ideal location for strip mall, service station, etc. $295,000 #127441: 80 ACRES OF INDUSTRIAL LAND with highway frontage, railway tracks, water and sewer in the City of Dawson Creek. Asking $31,250 per acre

8223 - 93rd Street Warehouse/ofďŹ ce avail. immediately. Drive through 14 x 16 overhead doors w/electric openers, 9 x 15 ofďŹ ce. $14.50/sq ft + Triple Net - MLS# N4504928

LARGE MODERN LEASE SPACE 11203 Tahlton Rd.

Extremely well maintained building, ideal for an art, dance, yoga studio or a small business. Immediate possession available.

This modern steel span building features over 11,750 square feet of combined shop/ofďŹ ce space, and 11,250 square feet of cold storage. Located in newer area of Prospect Park on a paved street, with access to the Alaska Hwy.

$12.00/sq ft + Triple Net MLS# N4504845

$13.75/ sq. ft. + NNN- MLS# N4505157

10607 - 101 Ave

130050,

OPPORTUNITY KNOCKING!

MOVE YOUR BUSINESS HERE!

1500 SQ FT SPACES FOR LEASE

#131876,

Ideal owner occupied business with potential for growth Onsite owner and manager homes plus several investment trailers included in price. Located within minutes to downtown Fort St John High Density Residential Zoning Peace River Regional District jurisdiction

confidentiality agreement

$575,000 - MLS# N4505145

FOR LEASE 3200 SQ FT SHOP with an additional 1680 sq ft of office are on upper floor. 2 doors 12x14 into 40x40 shop. Zoned M2 (light industrial) on .23 of an acre. Asking $16.00/sq ft.

FOR SALE 12.849 Acre 80+ pad RV - Trailer Park along the Alaska Highway

KATHY MILLERCURTIS ROBINSON PERSONAL REAL ESTATE CORPORATION

Remax Action Realty 1991 Inc.

kathy@bugkathymiller.com curtis@remaxaction.ca 250-785-5520 Toll Free : 1-888-785-5520

The Power Of Partnership!

6>G8G6;I =6C<6G ;68>A>IN EG>C8: <:DG<:! 78

;DG H6A: DG A:6H:

s .EWLY CONSTRUCTED AT THE 0RINCE 'EORGE )NTERNATIONAL !IRPORT s ,OCATED ADJACENT TO THE MAIN TERMINAL s !VAILABLE FOR OCCUPANCY *ANUARY s 3UITS BOTH AVIATION AND COMMERCIAL OFl CE APPLICATIONS s SQ FT OFl CE MAINTENANCE SPACE ON TWO m OORS s (ANDICAPPED ACCESSIBLE COMPLETE WITH ELEVATOR s SQ FT HANGAR SPACE s (ANGAR DOORS ARE WIDE BY IN HEIGHT s (ANGAR IS EQUIPPED WITH A FOAM l RE SUPPRESSION SYSTEM s )N SLAB m OOR HEATING THROUGHOUT THE HANGAR SPACE s 2EMOVABLE PARTITION WALL CREATES TWO SEPARATE HANGAR BAYS s !MPLE PAVED PARKING WITH ADJACENT GRAVELLED PARKING AREA For sales or leasing inquiries please contact:

<:DG<: B6GI>C Tel: '*%".+%"'''* Fax: '*%".+%"''*&

B10 Alberta

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

WINDOW OF OPPORTUNITY!

Invest in land with development potential. 381 acres on Lake McGregor. Hour and 10 minutes SE of Calgary. Approximately 3/4 mile of shoreline. Gently sloping. Suitable for lake view lots or golf course. Vendor willing to lease back.

mpjohnson41@hotmail.com

THE CITY

Commercial Property for Sale

PRIME YUKON INDUSTRIAL PROPERTY

Esso Gas Station – C-Store and Car Wash. Excellent location along highway. Business and property for sale. $4MM. Truck Wash & Quick Lube – Great proďŹ ts and income. Only 5 years old. Sales over 1MM. Strong cash ow. Asking $2.5MM for business and property. Spruce Grove - Highway Property. – This is a lease buy back. Long-term lease available. Tenant in place. Asking $320,000. Boutique Hotel in B.C. – 22 rooms comes with liquor store, pub, banquet room, lottery, restaurant, etc. Sales over $2.8MM and net income of $600k. Asking $4.5MM Commercial Building – 3.9 acres. ATV Dealership. 2 buildings consisting of 24,000 sf and 12,000 sf steel building. Sales of $6MM. Asking $4MM for business and property.

126 Industrial Road Whitehorse, Yukon

jey@ajscapital.com

AJS Capital Inc.

OF

APARTMENT OPPORTUNITIES 15 SUITES, NAIT - $105K/un it

CAMROSE

THE REGIONAL CENTRE OF EAST CENTRAL ALBERTA Prime Highway Commercial Lots Next to our New Hotel, Convention Centre and Casino 3 to 4 Acre Parcels $175,000 per Acre

15 SUITES, Downtown - $95 K/unit 20 SUITES Cromdale - $97 ,500/unit 20 SUITES Cromdale - $98 K/unit 22 SUITES, Downtown - $11 0K/unit 30 SUITES, Westend - $96,66 6/unit NEWER WAREHOUSE, 1455 sq. ft. - $369,000

Pam Gill

RAY TELFORD

Write: 5204 – 50 Ave., Camrose, AB, T4V 0S8 Toll Free: 1-888-672-4426 Cell: (780)878-1063 Fax: (780)672-2469 Email: rtelford@camrose.ca www.camrose.ca

EDMONTON Jasper Ave

(780) 455-4088 gillp@sutton.com

www.apartmentsinedmonton.com Sutton Central Commercial - AN INDEPENDENT MEMBER BROKER

Property is fronting on Jasper Avenue with excellent parking. Long Term tenants in place.

Please Contact

Prime commercial location on Industrial Road features 5200 sq ft on the main oor including retail area and large shop area at rear. Upper mezzanine is 2700 sq ft of open storage area and ofďŹ ces. The CIM zoning allows most commercial operations and the prime location close to the corner of Quartz & Industrial Roads ensures great visibility for your business. MLS #6959 $800,000 For further information and tours please contact: Ernie Bourassa, Dave Pearson or Darryl Weigand RE/MAX Action Realty

$05.,)( .$&( 8 !42((4 '/10410 " !

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SCHOOL BUILDING WITH ATTACHED RESIDENCES

,*+6$7 #$22(0 "+1/$3 (21'21/( !42$4+&10$ 15047 .%(24$

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780-916-6336

1-867-667-2514

REALTY EXECUTIVES North Star Edmonton

2 Prime Edmonton Jasper Avenue main oor commercial/retail condos for sale.

780-469-4769

52,500 sq. ft. school bldg. & offices 4 residence buildings accommodates 88 4.85 acres in Strathmore, AB Operating school leased to 08-31-2013 Zoning: P1-Public Service 4 ACRES IN NE EDMONTON

-(0 6,..,$/310 &1..,(23 &1/

¸ Redevelopment land with multiple zoning. ¸ 3 acres-Urban Services; 1 acre-RF1 + CSC ¸ Services at property line.

Marketing commercial real estate in Western Canada. In Print. On Line. Advertise. Subscribe. Make More Deals.

1-800-661-6988 Every Month! MARCH ISSUE: AD DEADLINE FEBRUARY 13 Report: Industrial Real Estate Urban renewal projects Investing 101: Joint ventures Franchise News Lifestyle Properties Regional Roundups: BC: Prince Rupert AB: Fort McMurray MB: The Pas SK: Spotlight: Big River

Online! New stories every week

2 STOREY WAREHOUSE & OFFICES, ST. ALBERT, AB ¸ 4340 sq. ft. main; 4000 sq. ft. up ¸ Some space leased short term. ¸ Lots of parking. WAREHOUSE/SHOP with SHOWROOM & OFFICES, ST. ALBERT, AB ¸ ¸ ¸ ¸

9332 sq. ft. property + 4906 sq. ft. building 3740 sq. ft. shop; 3 Phase power in shop. Overhead door off rear lane. Lg. air-conditioned showroom; lg.office; lunchroom; 2 washrooms. ¸ Fenced yard. 2 sheds. On site parking. RETAIL SPACE FOR SALE OR LEASE WEST END EDMONTON

¸ In strip mall zoned CB2. High traffic. ¸ 940 sq. ft. great for office, accounting or retail ¸ Ample parking.

HAROLD SCHMIDT CRES ASSOCIATE BROKER

1-877-428-2879 Toll Free Cell 1-780-953-0306 haroldschmidt@shaw.ca

In Print. On Line.

www.westerninvestor.com

www.HaroldSchmidt.com

Alberta B11

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

s #OMMERCIAL )NDUSTRIAL $EVELOPMENT /PPORTUNITIES s 3INGLE &AMILY (OMES .EW !PARTMENTS 2EQUIRED s MINUTES TO %DMONTON AND -INUTES TO 2ED $EER

s 2ETAIL (OTEL $EVELOPMENT /PPORTUNITIES s 3+90/24 AT 7ETASKIWIN !IRPORT 3ITES !VAILABLE s LOYAL SHOPPERS IN IMMEDIATE TRADING AREA

City of Wetaskiwin

For Details Contact: RONALD HOLLAND (780) 361-4404 Toll Free: 1-800-989-6899 Edm Dir: (780) 421-0953 rholland@wetaskiwin.ca

Economic Development P.O. Box 6210 Wetaskiwin, Alberta T9A 2E9 www.wetaskiwin.ca

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B12 Alberta

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

SHOPPING CENTRES AND

STRIP MALLS AVAILABLE IN ALBERTA!

Call Sammy EMPIRE REAL ESTATE GROUP

780-906-6652 PUBS

For Sale

INVESTMENT PROPERTIES FOR SALE! 18 UNIT WALK UP apartment in west Edmonton. Many upgrades. Good location. MLS listing at the best price per door price on the west end. SOLD! 23 UNIT APARTMENT, University area, nice condition and 5.75 cap. Call for proforma 13,231 SF, 5 BAY RETAIL STRIP MALL in Leduc, AB., with solid long term tenants. 9 years old. NOI over $153,000 per annum. 7 cap at $2,095,000 - SOLD! 68 FULLY SERVICED MOBILE HOME vacant titled lots located within a modern Mobile Home Park in High Level, AB. Fully serviced, paved roads, underground utilities, fenced and landscaped. MOTIVATED SELLER MAY CARRY 60% FINANCING FOR A QUALIFIED BUYER! MLS #E1014318. Price recently slashed to $975,000 or only $14,338 per lot!

BC’s fastest growing super port city

For Lower Mainland Pub Opportunities call:

JOHN JOHNSON Tel: 604-319-2504 Fax: 604-463-5287

s TO SQ FT ON !CRES s ,OTS OF PARKING AND YARD SPACE

Looking for investment properties for all ICI categories. Fully qualified buyers. Call now for your complimentary evaluation and allow my 21 years of banking and 13 years of commercial real estate experience to assist you!

RICK D. JENKINS 780-990-6120 cell

POLARIS REALTY

Email: rdjri@telus.net Commercial Realtor

EDMONTON & AREA

Waterfront Pub & Detached Liquor Store Land, buildings and business Prince Rupert, BC $2,500,000

FORT MCMURRAY – FOR SALE OR LEASE NEW INDUSTRIAL SPACE AVAILABLE – 2012

Ellerslie RE-Development Site Four acre site on the northwest corner of Ellerslie Road and 66th Street close to the Edmonton International Airport. Presently, zoning is being changed to commercial. New developments along 50th Street and Ellerslie Road include a new Edmonton Recreation centre development and the Edmonton Park and ride. 50th street connects onto Beaumont and Anthony Hendey Freeway. Highway to Beaumont is in expansion phase.

Call .JLF (FPSHF or #JMM 4DIPFNBLFS OFFICE BUILDING FOR SALE. Prime Location. On Jasper Avenue and 114th street in the Oliver Area. 4 storey building consisting of 56,012 square feet . Property is on 3 lots (50 feet x 150 feet) with also parking lots (92 feet x 150 feet) in the rear. Property is wedge between two drugs stores (Shoppers Drug Mart and Medicine Shoppe). New developments all around. ELLERSLIE RE DEVELOPMENT SITE 80 acre parcel across from the new Edmonton Recreation centre along Ellerslie Road. PULSE POINTE DEVELOPMENT SITE. Located in the Quarters project on 95th street and 102 Avenue. A total of 4 lots (14,200 sq.ft.) (142 ft frontage and 100 ft deep. Presently, building is 11,840 sq.ft. This is a new up and coming area. Plans for future LRT system is slated for the area. Asking $ 3,300,000 OLD STRATHCONA BUILDING. Located on Prime 82nd Avenue and 103 Street. Historical building. Long, long term Tenants, built in 1895. Building is 1650 sq.ft. of main oor with 12 foot ceilings. High ceilings in basement. Well looked after building. Asking $ 1,100,000

Please Call Bob Chinn, Assoc. (bob.chinn@century21.ca)

PRUDENTIAL STERLING REALTY LTD.

PH: 780-434-4700

Web: chinnproperty.com

(2006) LTD.

www.property-solutions.ca

GEORGIO’S BUILDING. Located across the street from Strathcona High School along busy 104th Street and 72nd Avenue. Main oor is 3,500 sq.ft. with fully ďŹ xture restaurant and Upstairs is 1,600 sq.ft. presently used for ofďŹ ce. Great owner user opportunity. Asking $ 765,000 LAND AND BUILDING FOR SALE. Over 9,000 square feet on the main oor. Living quarters upstairs with a basement level, parking to the east of the building. Lot is 14,577 square feet (120 feet x 122 feet) Located in the Quarters project on 95th street and 102 Avenue. This is a new up and coming area. Plans for future LRT system, hotels and high rises is slated for the area. BUSINESS CONDO IN OLD STRATHCONA 1500 square feet perfect for professional use, has 6 ofďŹ ces, storage, kitchen, reception area. In desirable Strathcona. Close to all amenities, busy trafďŹ c. FREESTANDING BUILDING. Fully leased out on busy Jasper Avenue on a 50 x 150 lot. Building is two storey approx. 5,000 square feet on the main oor with paved parking in the rear.

or Mark Wilbert, Assoc. (mark.wilbert@century21.ca) CENTURY 21 A.L.L. STARS REALTY LTD

FOR SALE 602 - 12 Avenue SE Calgary, Alberta 7,000 Sq. Ft. Downtown Site

RETAIL/SHOWROOM SPACE FOR LEASE 4303 - 9th Street SE, Calgary s SQ FT s 0ARKING 3TALLS GREAT RETAIL SPACE FOR LEASE Centre 89, Calgary s 5P TO SF s 'OING HOME SIDE OF -ACLEOD 4RAIL Tim Anderson Tel: (403) 291-8866 tanderson@naicalgary.com timjn_anderson@yahoo.ca

HOTEL - FULL SERVICE SOUTHEASTERN ALBERTA s . / ) IN EXCESS OF s &ULL 3ERVICE )NCLUDING #ONFERENCE 7EDDING FACILITIES s 7ELL &LAGGED s ROOMS WITH ROOM AND PLANS FOR EXPANSION s 4WO LOUNGES s (IGH 6,4 COUNT s .ET 2ENTAL INCOME AS WELL s 0RICED TO 3ELL 5 MOTELS PRICED UNDER $700,000 s ,OCATED IN VARIOUS SOUTHERN !LBERTA TOWNS s 'REAT RETURNS FOR AN ON SITE OPERATOR s (AVE YOUR OWN BUSINESS FOR A LITTLE MORE THAN THE COST OF AN AVERAGE HOME IN #ALGARY Jim Balfour Tel: (403) 291-8860 jbalfour@naicalgary.com

Tim Anderson Tel: (403) 291-8866 tanderson@naicalgary.com timjn_anderson@yahoo.ca

SHOWROOM / WAREHOUSE BAY FOR LEASE Bay D, 4301 - 9th Street SE, Calgary s SQ FT BUSINESS FOR SALE

s )NCLUDES ,AND "UILDINGS %QUIPMENT

4110 - 79 Street NW Calgary, Alberta 10,250 Sq. Ft. Office Building

4337 Macleod Trail S Calgary, Alberta 12,000 Sq. Ft. Shopping Centre

s SQ FT -EAT *ERKY 0ROCESSING 0LANT s 0OTENTIAL FOR h4URNKEYv /PERATION s ,ONGVIEW !LBERTA MIN FROM #ALGARY s 6ENDOR WILL RESPOND TO ALL /FFERS s 02)#%

Jim Courtney Tel: (403) 291-8873 jcourtney@naicalgary.com

Shane Olin Tel: (403) 708-9086 solin@naicalgary.com

Calgary Office ! 3TREET 3% #ALGARY !" 4 ( " s Phone: (403) 214-2344 FAX: (403) 214-0244 BUILT ON THE POWER OF OUR NETWORK. OVER 375 OFFICES WORDLWIDE.

Alberta B13

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

CAPITALIZE

ON EXPERIENCE BARCLAY STREET REAL ESTATE INVESTMENT OPPORTUNITIES FROM

NEW LISTING

FOR SALE

FOR SALE

DEVELOPMENT SITE IN INGLEWOOD

CHARACTER OFFICE BUILDING

1402-1404 9TH AVE SE, 1412-1418 9TH AVE SE

224 15 AVENUE SW

Calgary, Alberta

Calgary, Alberta

s 0RIME DEVELOPMENT SITE IN DESIRABLE COMMUNITY OF )NGLEWOOD s 3ITE SIZE n SQUARE FEET s %XISTING HOLDING INCOME

0ROXIMITY TO TH !VENUE 37 ONE OF #ALGARY S MOST UNIQUE AND vibrant shopping and commercial districts, provides convenient access to various amenities including cafĂŠs, restaurants, shops AND FASHION BOUTIQUES

For more information or to view, please contact:

For more information or to view, please contact:

'$1 +$506(1 ‡ dharmsen@barclaystreet.com 5<$1 6:(/,1 ‡ rswelin@barclaystreet.com

p: 403-290-0178 f: 403-262-1314

'$1 +$506(1 ‡ dharmsen@barclaystreet.com 5<$1 6:(/,1 ‡ rswelin@barclaystreet.com

p: 403-290-0178 f: 403-262-1314

PRICE REDUCED

PRICE REDUCED

FOR SALE COMMERCIAL OFFICE

FOR SALE 505 21 AVENUE SW Calgary, Alberta

SQ FT OF CHARACTER OFFICE PREMISES LOCATED ON A PROMINENT SQ FT SITE The property is located in Calgary’s VIBRANT TH 3TREET 37 2ESIDENTIAL Commercial District - Cliff Bungalow.

For more information or to view, please contact: DAN HARMSEN dharmsen@barclaystreet.com

RYAN SWELIN

INDUSTRIAL FACILITY

FOR SALE 35,381 SQ. FT. 4043 Brandon Street SE, Calgary

s #OOLING STORAGE refrigerated processing area (140 ton) s 7ASTE WATER TREATMENT on-site s $IRECT INTERIOR CONNECTION TO 6ERSA#OLD storage facility s &ENCED PARKING s 02)#%

INDUSTRIAL FACILITY

53,233 SQ. FT. 4211 13A Street SE, Calgary

s BLAST FREEZERS extensive cooling storage, refrigerated processing area (64 ton) s 7ASTE WATER treatment on-site s &ENCED YARD AND PARKING s 02)#%

For more information or to view, please contact:

For more information or to view, please contact:

rswelin@barclaystreet.com

GREG ALBRIGHT

GREG ALBRIGHT

galbright@barclaystreet.com

galbright@barclaystreet.com

p: 403-290-0178 f: 403-262-1314

p: 403-290-0178 f: 403-262-1314

p: 403-290-0178 f: 403-262-1314

COMMERCIAL REAL ESTATE

SOLUTIONS

Office, Retail, Industrial

Land, Investment

SALES AND LEASING

SALES

Property Management

CALGARY OFFICE ƒ Suite 200, 407 – 8th Avenue SW Calgary, AB ƒ T2P 1E5 ƒ p: 403ƒ290ƒ0178 f: 403ƒ262ƒ1314 EDMONTON OFFICE ƒ 202, 2520 Ellwood Drive Edmonton, AB ƒ T6X 0A9 ƒ p: 780ƒ463ƒ3332

WWW.BARCLAYSTREET.COM

B14 Recreational Real Estate LIFESTYLE PROPERTIES

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

COVER Recreational vendors hope recent sale of Kicking Horse Resort signals a new round of investment be sold for a minimum of $10 million to cover debts owing.

,JDLJOH PGG B DZDMF WESTERN INVESTOR algary-based Resorts of the Canadian Rockies Inc. has purchased the highly succesful Kicking Horse Mountain Resort – the last major B.C ski resort built in the past 25 years – near Golden, from Dutch-based Ballast Nedam. While the purchase price was not disclosed, Western Investor believes it was close to $28 million, based on post-sale filings by Ballast Nadam in Europe.

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The sale could signal a long-awaited new cycle in resort investment in B.C., where there is a long list of properties on the market, some of them in trouble. Steve Paccagnan will remain as president of Kicking Horse Mountain Resort under the new ownership. It remains business as usual at Kicking Horse Mountain Resort, and all existing ski packages, passes and joint agreements will continue to be honoured, according to Paccagnan. About 400 homes have been built and sold at Kicking Horse since the development opened. Resorts of the Canadian Rockies Inc. is one of the largest private ski resort owner/operators in North America, now owning six ski resorts across Canada, including three on the B.C. side of the Rockies. In addition to the ski resorts, Resorts of the Canadian Rockies also owns and operates a number of accommodation properties, golf courses and a central reservation agency. Kicking Horse Mountain Resort has obtained

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Photo: Kicking Horse Mountain Resort

FRANK O’BRIEN

provincial approval of a 40-year master plan, which calls for a world-class destination mountain resort with an expanded controlled recreation area, 20,000 bed units, an 18-hole signature golf course, a multi-use trail system with two proposed lifts and 4,188 acres of skiable terrain. Kicking Horse is not the only place in B.C. where prospective resort buyers have been kicking tires. Calgarybased Bellstar Resorts and Hotels is apparently preparing a bid for part of Aviawest, which has gained an extension of credit protection to March 26, facing $93.7 million in debts on five B.C. resort projects. Kicking Horse Mountain Resort has been sold to Resorts of the “We are looking Canadian Rockies for approximately $28 million. at Parkside,� said a Bellstar spokesman, referring to Aviawest’s year and turned it into a top seller. According to court documents, two offers flagship Parkside Resort and Spa property in Victoria. Aviawest also owns the Pinnacle have been received for Parkside, but neither Lodge at Sun Peaks Ski Resort near Kamloops; was for more than $20 million. Court-appointed the Water’s Edge Resort in Ucluelet; and the monitor Grant Thornton said BC Investment Management Corp. is owed $29 million for Pacific Shores Resort and Spa at Parksville. Bellstar took control of the failed Solara Resort Parkside’s first mortgage. Plans also call for Pacific Shores Resort to and Spa condominium project in Canmore last

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Other B.C. resorts on the market include: • the new 108 Resort in the Cariboo Region, which covers 548 acres and includes an 18-hole golf course and other amenities, plus a lodge with 42 guest rooms. The asking price is $3.8 million through LandQuest Realty Corp.; • Tobiano Golf Resort, at Kamloops, which has been on the market since last September. Receiver Bowra Group said the developers owe the Bank of Montreal roughly $26 million; • Manning Park Resort near Hope, B.C., is also in receivership and up for sale. Assets include nordic and downhill skiing facilities, a lodge and chalets and a pub/bistro. The resort owes $700,000 in taxes and more than $1 million to providers, according to Bowra Group; • Saratoga Beach Golf Course on Vancouver Island just south of Campbell River, which includes an executive course and 37.4 acres of development potential, is listed for $1.49 million by DTZ Barnicke, Nanaimo; • The high-end, 18-hole Tower Ranch Golf Resort, zoned for 580 homes near Kelowna, is in receivership with the asking price chopped from $21.5 million to $14.5 million, listed with Colliers International. • Sotheby’s Canada has two Tofino waterfront resorts on the market: the 40-unit Clayoquot Orca Resort near Chesterman beach, listed under a court order at $2.95 million; and the 13-unit Duffin Cove Resort, at $2.35 million, according to Sotheby’s agent Mark Lester. Porpoise Bay Golf Course at Sechelt on the Sunshine Coast may also be in play soon. The District of Sechelt shut the course down last month and locked the doors after the operator fell about $190,000 behind in lease payments for the district-owned land.◆

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

1SPQFSUJFT

Reach potential buyers with money to spend. Western Investor readers have higher than average household income and a real interest in real estate. Recreational Real Estate ADVERTISING FEATURE :

• Limited spaces • 4-colour ads • Special rates Recreational Real Estate LIFESTYLE PROPERTIES

www.westerninvestor.com WESTERN INVESTOR

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

Recreational Real Estate LIFESTYLE PROPERTIES

www.westerninvestor.com WESTERN INVESTOR

FOR SALE - On Bird River, MB

3BODI TJ[F TBMFT DIFFS WFOEPST WI STAFF WESTERN INVESTOR

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 – and that is just for the land. “We have sold two lots and we have holds on two others,� 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 – one to a retired Edmonton oil executive – are both in the 100acre size, as are the two with pending sales. The Ranches at Elk Park are what Nielsen calls a “rare collection� 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. “This is a very exclusive opportunity,� said Nielsen, 70, B.C.’s most prolific land dealer. In the last 40 years, he’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

1

Offering one of the nicest settings on Kootenay Lake on the North Shore of Beautiful Nelson, British Columbia

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

and ranches. “There’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.� 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 owners’ lounge, Nielsen said. He credited owner Fred Schickedanz for having the vision and patience to create “one of the best recreational ranch developments I have seen in a long time.� Nielsen said buyers are a mix of permanent residents and seasonal owners who plan to

ARIZONA Investment Property For Sale ACQUIRE REALTY 623-853-7765 Toll &REE s WWW !CQUIRE!: COM

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, “without going too far or spending too much.� 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 of 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. “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, “ 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. “You can golf, ski, and catch a large rainbow trout, all in one day in the Kootenays,� Nielsen said. He notes that the ski hills of Panorama Ridge near Invermere and the amenities of 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. “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.�◆

Far from the Madding Crowd - 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.

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204-928-5008

Virtual tour at www.annabelyoung.com

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ANNABEL YOUNG

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Cell: 604-961-7541

FOR SALE AUTOMOTIVE PARTS STORE KITIMAT, B.C.

Overwhelming Views

Why Harrison?

Nestled against Southwestern British Columbia’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. s BEDROOMS BATHROOMS s SQ FT OF LIVING SPACE s SQ FT GUEST SUITE s 3HOWPIECE CAR GARAGE s FEET OF WATERFRONT

UĂŠ7iÂ?Â?ĂŠiĂƒĂŒ>LÂ?ÂˆĂƒÂ…i` UĂŠ `Â?œˆ˜ˆ˜}ĂŠ£ää½ĂŠĂ?ĂŠÂŁxä½ĂŠÂ?ÂœĂŒ UĂŠ*Ă€iĂƒiÂ˜ĂŒÂ?ĂžĂŠĂ“ĂŠĂƒĂŒÂœĂ€ivĂ€ÂœÂ˜ĂŒĂŠĂ€iÂ˜ĂŒ>Â?ĂŠÂˆÂ˜Vœ“i UĂŠ7ÂœĂ•Â?`ĂŠÂ?ˆŽiĂŠĂŒÂœĂŠĂƒiÂ?Â?ĂŠÂŤ>VÂŽ>}iĂŠ`i>Â?

$1,888,000

Contact us to start your portfolio today.

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Here are twelve of the homes we’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.

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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.

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Phoenix Area

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

Sold Price: $60,300 Rent: $895 City: Glendale 9EAR "UILT Square Feet: 1,278

Sold Price: $60,500 Rent: $825 City: Goodyear 9EAR "UILT Square Feet: 1,159

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

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

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TPME

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Average Sales Price per Square Foot

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ARMLS Residential All Areas and Types

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Investment Opportunity

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

"OB 0LOWRIGHT $ON 3PICE s 2% -!8 "/" 0,/72)'(4 2%!,49 +RISTEN /g#ONNOR s 2% -!8 .9$! 2%!,49 6EDDER 2D #HILLIWACK "# 6 2 ' www.bobplowright.com bob@bobplowright.com s

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Gerri SaundersĂŠJĂŠ(250) 632-2107ĂŠÂœĂ€ĂŠ(250) 632-6638

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

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

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

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Avondale - Crystal Gardens Lake Community

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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

604-669-8500 1-800-661-6988 advertise@westerninvestor.com

6 Njovuft up Upxo Dfousf

xxx/FmlQbslSbodi/dpn

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

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Recreational Real Estate LIFESTYLE PROPERTIES B15

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“The Source” for Oceanfront, Lakefront, Islands, Ranches, Resorts & Land in BC at:

www.landquest.com LandQuest Realty Corp SmithersÊqÊ i ÃÊ Ài LandQuest Realty Corp CourtenayÊqÊ ÕÀÌÊ i Ãi

BACKCOUNTRY LODGES & TOUR OPERATION - SELKIRK MOUNTAINS

LandQuest Realty Corp NanaimoÊqÊ i> Ê Õ `Þ LandQuest Realty Corp Cariboo – >ÀÃ Ê ÀÜ>À`

DEAN RIVER RANCHES CHILCOTIN REGION OF BC

SHOAL HARBOUR MARINA SIDNEY, BC

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Èä{ ÈÈ{ ÇÈÎäÊUÊ£ nÈÈ xxn Ê­xÓÈή PORT BROWNING MARINA RESORT NORTH PENDER ISLAND

MOTEL, CABINS, RV SITES & RESIDENCE - CHRISTINA LAKE, BC

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f RIVERFRONT LOG HOME & ACREAGE NORTH THOMPSON, BC d

2ICH /SBORNE 0ERSONAL 2EAL %STATE #ORPORATION

ACRES OF OPPORTUNITY FRASER VALLEY

-ATT #AMERON MATT LANDQUEST COM

$AVE #OCHLAN DAVE LANDQUEST COM

$AVE #OCHLAN DAVE LANDQUEST COM

SNAKING RIVER RANCH - 356 ACRES BC’S CHILCOTIN CATTLE COUNTRY

NICOLA LAKE DEVELOPMENT ACREAGE - MERRITT, BC

PICTURESQUE DEVELOPMENT ACREAGE - PRINCETON, BC

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BLACK STOCK ESTATES 100 MILE HOUSE, BC

SLOCAN VALLEY ACREAGES

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#ARSON $ORWARD CARSON LANDQUEST COM

,ARRY ,AING LARRY LANDQUEST COM

BIG BAR GUEST RANCH INDUSTRIAL/COMMERCIAL SOUTH CARIBOO - BY CLINTON, BC BUILDING & LAND, SMITHERS, BC

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NORWOOD RANCH COURTENAY, BC

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3AM (ODSON SAM LANDQUEST COM

3AM (ODSON SAM LANDQUEST COM

RECREATION PROPERTY NEAR BIG WHITE

FRASER VALLEY ACREAGE SHOP / BARN FOR CAR BUFFS

THE NEW 108 RESORT CARIBOO REGION OF BC

UÊ£]ÓääÊõÊvÌÊV>L UÊä°ÇnÊ vÊ> Ê>VÀiÊ ÌÊ Ê Ã Ê > i UÊÎäÊ ÕÌiÃÊvÀ Ê i Ü > UÊ ÕÀÊÃi>Ã Ê ÕÌ` ÀÊ>VÌ Û Ì ià UÊ8 V Õ ÌÀÞ]Êv à }]Ê Õ Ì }ÊEÊ } UÊ 7Ê*, Ê$119,000

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UÊx{nÊ>VÀiÃÊ Ê£nÊ iÊ} v]ÊÌi Ã]Ê ÀÃiÃ]Ê v à }]ÊL }]Ê }ÊiÌV° UÊ{ÓÊÜi >«« Ìi`Ê}ÕiÃÌÊÀ ÃÊ UÊ }Êv ÀÊ ÛiÃÌ ÀÊÉÊ*>ÀÌ iÀÃÊ UÊ Ài>ÌÊ`iÛi « i ÌÊ «« ÀÌÕ Ì ià UÊ/ «Ê ÛiÃÌ i ÌÊv ÀÊ>Ê ÜÊ*À Vi UÊ $3,990,900

,ARRY ,AING LARRY LANDQUEST COM

+EN (UNTER KEN LANDQUEST COM

+ONRAD - 3CHMID -EIL KONRAD LANDQUEST COM

NORTH COAST OCEANFRONT

GETAWAY AT ANAHIM LAKE

SPAIN LAKE RANCH

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UÊÈÊÞi>ÀÊ `Ê£]£ääÊõÊvÌÊ* ÃÌÊEÊ i> Ê i UÊ7 À à «­}>À>}i®ÊÜ Ì Ê ÕiÃÌÊ-Õ ÌiÊÊ UÊ*À >ÀÞÊLÕ ` }Êà ÌiÊ£xä½ÊvÀ ÊÜ>ÌiÀ½ÃÊi`}i UÊ"ÛiÀ ÃÊ > Ê > iÊ UÊ Þ Ê>VViÃÃtÊÊÊ UÊ $155,000 Ê

UÊ{näÊ>VÀiÃÊÜ Ì Ê > ivÀ Ì UÊÓÊ ÕiÃÌÊV>L Ã]ÊL>À ÊEÊ/>V Êà i` UÊ V «>ÃÃi`ÊLÞÊ >â Ê > iÊ*À Û V > Ê*>À UÊ*>À Ê vviÀÃÊÓÊ ÀÊÎÊ`>ÞÊÜ `iÀ iÃÃÊV> i }Ê >`Ûi ÌÕÀi UÊ6i V iÊEÊv Þ Ê>VViÃà UÊ $320,000ÊÊÊÊ

DENIS LANDQUEST COM

$ENIS $ORE DENIS LANDQUEST COM

2ON 3VISDAHL RON LANDQUEST COM 4/,, &2%%

2ON 3VISDAHL RON LANDQUEST COM 4/,, &2%%

SHUSWAP LAKE DEVELOPMENT LANDS

2+ ACRES - HOPE, BC FRONTING ON 2 FAMOUS RIVER

BOAT HARBOUR MARINA NEAR NANAIMO, BC

1939 HERITAGE BOUTIQUE HOTEL POWELL RIVER, BC - REDUCED

UÊ / iÊ À>ÃiÀÊEÊÌ iÊ µÕ > > UÊ i>ÕÌ vÕ ÞÊÌÀii`]Ê£°xÊ ÀÃÊvÀ Ê6> V ÕÛiÀ UÊ £Ê vÊ>Ê `Ê«À «iÀÌÞÊ Ê ÜÊL> ÊÀ ÛiÀvÀ Ì UÊ Õ `Ê>Ê, ÛiÀvÀ ÌÊ ÃÌ>Ìi UÊ*iÀviVÌÊLÕ ` }Êà ÌiÃÊ Ê} `Ê> ÀÃÌÀ «Ê i>ÀLÞ UÊ , ÛiÀÊEÊ Õ Ì> ÊÛ iÜà UÊ 1-/Ê -/ Ê$579,000ÊÊ

UÊx£Ê>VÀiÊ`ii`i`ÊÜ>ÌiÀÊ ÌÊ >À >Ê ÊÞiÃ]ÊÞ ÕÊÊ Ü ÊÌ iÊÜ>ÌiÀÊ ÌtÊ ÌÊ Àià ÀiÊ i>ÃiÊ UÊ ÜÃÊÃ> iÊ vÊ«Ài«> `Ê i>ÃiÃÊ Êà «Ã UÊ£{äÊà «Ê >À >Ê ÊÀ Êv ÀÊà } v V> ÌÊ}À ÜÌ UÊ V Õ`iÃÊÓÈäÊ>VÀiÃÊ`iÛi « i ÌÊ > `Ê ÓäÊ ÕÌiÃÊÌ Ê Ü Ì Ü Ê > > UÊ ÀÃÌÊÌ iÊ vviÀ }ÊÊ $11M

"RIAN (ARRIS BRIAN LANDQUEST COM

*ASON :ROBACK *AMIE :ROBACK

UÊÓÎnÊ>VÀiÃÊ Ê- ÕÌ Êà Ài UÊ, >`Ê>VViÃà UÊÎääÊvÌÊ vÊÜ>ÌiÀvÀ Ì UÊ Ài>ÌÊÛ iÜÃ]Ê« ÜiÀ]ÊÜ>ÌiÀ UÊÈäÊ ÌÊ«À « Ã> ÊÀi>`ÞÊÌ Ê} UÊ ÝVi i ÌÊ V>Ì UÊ, 1 Ê $1.85M +URT .IELSEN KURT LANDQUEST COM

UÊ£ Î Ê iÀ Ì>}iÊ ÕÌ µÕiÊ Ìi Ê UÊ ÊÀ Ã]Ê ii«iÀÃÊÀià `i Vi]ÊÀiÃÌ>ÕÀ> ÌÊ UÊ V>Ìi`Ê Ê ÞÊ`ià } >Ìi`Ê >Ì > Ê iÀ Ì>}iÊ

ÃÌÀ VÌÊ Ê7iÃÌiÀ Ê > >`> UÊ*iÀviVÌÊ viÃÌÞ iÊ «« ÀÌÕ ÌÞÊ Ê iÊ vÊ ½ÃÊ v iÃÌÊV Õ Ì ià UÊ ÜÊf519,000ÊÊÊ *ASON :ROBACK *AMIE :ROBACK

B16 Alberta

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

PROFIT FROM EDMONTON'S DOWNTOWN REVITALIZATION! s (IGH VISIBILITY ,OCATION s /VER S F USABLE SPACE s /N TITLED LOTS s /FlCE AND WAREHOUSE SPACE

MD of Opportunity No. 17 Box 60 2077 Mistassiniy Road North Wabasca, Alberta T0G 2K0

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MD of Opportunity No. 17 REQUEST FOR PROPOSAL Wabasca Downtown Commercial Development January 2012 RFP# 01-2012

Gerald Tostowaryk

THE REALTY COMPANY

(780) 452-2700

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Your organization is hereby invited to submit a proposal for commercial development within downtown Wabasca, as set out in this Request for Proposal documentation. You can download the RFP with support documentation from: http://opportunity17.civicwebcms.com/content/notices

Refer all proposal inquiries to the Municipal Planner, by facsimile at 780-891-4283 or email at chad@mdopportunity.ab.ca or the Economic Development Officer, by email at reneeb@mdopportunity.ab.ca. All written inquiries and the replies thereto will be copied to all proponents.

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(RE/MAX Excellence)

INVITATION TO SUBMIT PROPOSAL

Inquiries

:fekXZk

COMMERCIAL

Proposal Closing Time: Monday, February 13, 2012 Local time 2:01pm

17718 - 64th Ave Edmonton, AB T5T 4J5 (780) 429 - 1200 1(866) 481 - 2950

Edmonton’s Business & Investment Specialists

LEDUC PROF. BUILDING - $1.65M

61000 SF WHSE/OFFICE - $5.8M

LEDUC PLAZA LEASE SPACE

Fully leased. 8.6% CAP

14135 128 Av. Priced to sell!

Only 5 units left! www.LeducPlaza.com

BUSINESS ONLY zIndian Restaurant - Prime location in Edmonton - PENDING

CALL AYAZ OR SAM AT 780.641.1320 zBottle Depot Businesses - 3 Locations in AB. Call For Info BOTTLE DEPOT BUYING & ORIENTATION - BOOK NOW! ***CERTAIN CONDITIONS APPLY***

zAuto Wash w/Land & Bldgs - Prime location in NE Edm - $3.5M

CALL RAJAN NULLIAH 780.441.5419

INVESTMENT zNisku M/T Bldg - Room for upside. VTB Avail. - PENDING zRV Storage & Service - 8.87 ac w/7,362 SF buildings - $1.095M zGeneral Store w/Property - Outside Edm. Over $1M revenue. 2000 SF bldg on 0.345 acres. Excellent opportunity! - $595,000

CALL AYAZ OR SAM AT 780.641.1320 zSylvan Lake - Choice of 3 Est Motels. Beach facing & close to Marina. Priced at $1.7M, $2.2M and $2.635M

CALL RAJAN NULLIAH AT 780.441.5419 zSelf Storage Facility - 177 Units + 100 RV on 3.88 ac. - $2.1M

CALL MIKI O’REE AT 780.200.6454

z118 Avenue Strip Mall - Court Ordered Sale. - $1.525M

CALL GREG STEELE AT 780.945.7800 zGas Station, Grocery/Convenience & Liquor Store - Over $2M in sales.Land, Bldg and Business Included - $1.3M

CALL NEIL HORVATH 780.908.5630

MULTI-FAMILY zNEW Triplex - Excellent location. Built in 2007 - $1.298M z5 Units - Belgravia - Call For Info and Pricing z9 Units - South Edmonton - $110,000/Door z15 Units - Glenwood - $100,000/Door z18 Units - Two building package. Strathcona - $130,000/Door

CALL MIKI O’REE AT 780.200.6454

INDUSTRIAL zLand/Bldg For Sale - Spruce Gr. 5500SF on 0.7 acres REDUCED PRICE - $799,000

CALL ALLY PIRMOHAMED AT 780.604.0302

LAND z Nisku Commercial Land - 5 Lots. Zoned CS - $400,000/Acre

CALL AYAZ OR SAM AT 780.641.1320

w w w.RemaxComm.ca

B17

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

REGIONAL ROUNDUP Calgary a free-spending go-to-town for higher-end retailers and mall developers

on the drawing board in the fall, though considerably fewer under construction. Colliers identified 298,000 square feet of retail construction going on in October, but another 8.1 million square feet planned.

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algarians like to shop.

Photo: Chinook Centre

Photo: Victoria’s Secret

While that fact gives them something in common with a lot of Canadians, Calgarians have an edge: the ability to fund their trips to stores. According to Statistics Canada, Calgarians enjoy the second-highest median family income in the country ($88,410), giving them the wherewithal to hit a lot of shopping malls. Only folks in Ottawa-Gatineau averaged more, and let’s face it, a lot of those bureaucrats stuck paying provincial sales taxes in Ontario and Quebec don’t have the same amount left over when it comes time to shop. Looking from a global perspective, the Brookings Institute, in a recently released survey of the world’s top 200 urban economies, ranked Calgary at 51, well ahead of all seven TOP: Chinook Centre: mega-mall retail sales hit Canadian cities that made the list. $1,000-per-square-foot last year. RIGHT: Calgary So it should come as no surprise that parking seduces U.S. retailers, such as Victoria’s Secret. spots in decades-old Chinook Centre are sometimes hard to come by. The Calgary mega-mall such as Chinook Centre and the northwest America,� he added. on Macleod Trail draws from all over the city destination of Market Mall. Calgary’s size and income levels also make of 1.1 million residents, and opened yet another While $22-per-square-foot lease rates are it a logical stop for American firms expanding expansion only a year-and-a-half ago. still around in some Calgary districts in strip into the Canadian market. It was chosen for one malls, new retailers outside the destination of only two large Bass Pro Shops locations in QFS TRVBSF GPPU malls can also be looking at rates into the $40 Canada, and more recently has attracted many of the retail world’s iconic names, including the Its results: sales that hit the annual $1,000-per- range. square-foot milestone for the period ending Such rates reflect not only Alberta retail likes of Harry Rosen and Victoria’s Secret, September 2011. spending that’s 26 per cent above the national which unveiled in Chinook Centre this year That fact, and a traditional lack of good average, but also Cowtown’s 1.45 per cent along with Tiffany’s. Both set up in Chinook Centre, but the other vacant retail space in the city, combines to retail vacancy rate. “We’re effectively full. We’ve been consis- higher-end Calgary malls have also enjoyed make Calgary an appealing place for investors who can capitalize on demand for space. tently below 2 per cent for the last five years,� success attracting first-to-Calgary tenants in Isaac Beall doesn’t expect retail demand Beall noted, adding that the only exception the last 24 months. to wane soon. As a Colliers International was when a U.S.-based retailer declared bankThere’s a big-city appetite for new and difretail specialist in Calgary, Beall expects to ruptcy and closed six stores in Calgary. It freed ferent retailers in Calgary. The only obstacle see “continued upward pressure� on lease up 250,000 square feet of space and jacked the in attracting them appears to be the right space. rates that are already in the $60-to-$200-per- vacancy rate to a whopping 2.03 per cent. square-foot range in large shopping malls “We’re one of the lowest vacancies in North To that end, there were a lot of major projects

Hot spots in the next 12 months are expected to include Sage Hill Crossing and Beacon Heights in the northwest, Seton and East Hills in the southeast, StoneGate in the northeast and Currie Barracks and Silverado in the southwest. Seton will offer an eventual complement of one million square feet of retail near Calgary’s new hospital, South Health Campus, which is expected to open in phases starting this spring and continuing on into 2013. StoneGate Common, part of the even larger StoneGate Landing project north of Calgary International Airport and east of Deerfoot Trail, is envisioned for another 1.5 million square feet of retail and retail-related space. WAM Development Group and partne r Alberta Investment Management Corp. foresee over 13 million square feet of retail, office and warehouse space in the huge project, which sits in a great location for transportation and logistics businesses looking for close proximity to southern Alberta’s two busiest highways. WAM’s building efforts were focused more on its Stoney Industrial Centre project on the west side of Deerfoot in 2011, with a fourth building offering over 400,000 square feet of space nearly complete at year’s end. A WAM promotional video for StoneGate Landing may sound a little ambitious, but it wil ring true if all that is planned goes ahead. Notes a smooth voice on the company’s StoneGate website: “No other industrial area in Calgary will compare, not in scale, accessibility or thoroughness in planning, for the unique needs of today’s industrial businesses.� The StoneGate Common project on the north side of Country Hills Boulevard hopes to capitalize on an eventual daytime workforce

Please see Wowtown page B18

"MCFSUB

NNN INVESTMENT OPPORTUNITY !!! ARIZONA INDUSTRIAL PORTFOLIO 4 Industrial Properties Offered at: $5,000,000 GILBERT, AZ

PHOENIX, AZ

Income: $70,200 Property Size: Âą48,516 SF Additional Âą33,000 SF available Building Size: Âą5,015 SF Lease Expiration: February 2015

Income: $123,575 Property Size: Âą65,000 SF Building Size: Âą8,150 SF Lease Expiration: June 2018

*Leased by Fortune 500 Company!

*Leased by Fortune 500 Company!

CASA GRANDE, AZ

GILBERT, AZ

LAND PARCEL Income: $78,000 Property Size: Âą1.978 acres Building Size: Âą11,894SF Lease Expiration: January 2013 *Leased by Local Organization!

Lot Size: Âą31,186 SF Zoning: Regional commercial Outside storage capabilities Adjacent to Gilbert property

For additional information contact:

JIM BOYD

(602) 882 - 0345

jboyd47@cox.net

Val Toffoli

Selling Edmonton since 1987

Phone: 780-707-9395

REALTY EXECUTIVES POLARIS 4107 - 99th Street, Edm, AB T6E 3N4 “>ˆÂ?\ĂŠĂ›ĂŒÂœvvÂœÂ?ˆJĂƒÂ…>Ăœ°V>ĂŠUĂŠĂœĂœĂœ°Ă›>Â?ĂŒÂœvvÂœÂ?ˆ°Vœ“ APARTMENT BUILDINGS: s 5NITS n &ULL 3IDE BY 3IDE "I ,EVEL $UPLEX 'REAT 7EST %ND ,OCATION .EEDS SOME 4,# PRICED !CCORDINGLY /.,9 s 3TE #HARACTER "LDG /WNER -ANAGED 7ELL -AINTAINED ,ARGE 3TES #ENTRAL 3OME UPGRADING TO SUITES 2%$5#%$ s 3TE #HARACTER "LDG #ENTRAL -C$OUGAL /VER CAP RATE 3OME UPGRADES 3ELLER OPEN TO 2EASONABLE /FFERS s 3TE n #TL 1-0 n #AP 2ATE !PPLIANCES $ISHWASHERS 3OME #OVERED 0ARKING -ANY 5PGRADES IN OUT s 3TE n #TL -C$ n #AP 2ATE -ULTITUDE OF 5PGRADES n %XCELLENT 3TE -IX RANGING FROM SQ FT "ALCONIES s 3TE n #TL -C$ n #AP 2ATE -AJOR 5PGRADES 'REAT 3TE -IX ONLY ARE "DRM 3ELLER ND 64" -TG 0OSSIBLE s 3TE n #TL 1-0 n 3 X 3 PROJECTS n /VER #AP 2ATE -ANY 5PGRADES 3UPER 3TE -IX WITH ,'% 3TES ND 64" -TG B & B - HEALTH RETREAT – DEVELOPMENT - EXECUTIVE ESTATES s "%!54)&5,,9 42%%$ !#2%3 IN 0ARKLAND #OUNTY NEAR %DMONTON $EVON 5NIQUE SQ FT !RCHITECTURALLY $ESIGNED (OME WITH "DRMS "ATHS /UTDOOR 0OOL (ORSE 3HELTER 4RIPLE 'ARAGE 0RESENTLY A 2ESIDENTIAL %STATE s "5),$%23 $%6%,/0%23 ACRE PARCEL READY FOR SUBMISSION TO COUNTY FOR LOT SUBDIVISION "ONUS LOT FEATURES GORGEOUS SQ FT %XECUTIVE HOME WITH TRIPLE GARAGE LARGE SHOPS n EXCELLENT HOME BASE FOR BUILDER DEVELOPER !CROSS FROM OF THE MOST PRESTIGIOUS SUBDIVISIONS IN PARKLAND COUNTY

WANTED: APARTMENT BUILDINGS Have QualiďŹ ed Buyers Ready to Purchase!

RESORT: Asking $4.0mil 60 Acres in Rocky Mountain, 6 months open GAS STATION: Asking $2.19mil In store sale only $2.45mil (with Lotto $450k) Gas: $1.6mil Two living space separate included 4 bed + 1 bed MOTEL: Asking $3.79mil 38 rooms in Edmonton MOTEL: Asking $1.79mil 45 rooms in Pincher Creek LIQUOR STORE: Asking $1.55mil Sale $3.0mil in Lethbridge

Thomas Koh (CIR) 403-680-9827

Tomkoh999@gmail.com

B18 Alberta MOTEL FOR SALE In ALBERTA 22 room motel for sale, close to Edmonton on Hwy 36 and Hwy 14 where the only two hwys with wide loads crossing. Town based on oil and gas activities and year round business. Motel was completely renovated in 2009. The motel has some kitchenette units and some suites. Family owned and operated business. Great for families or investments. The motel has a 1500 sq ft house with double garage. It has 6 bedroom bungalow and 2 full and 2 half baths with lots of storage. Empty lot available for expansion. Contact:

Jeet Dhaliwal 403-404-5338

STETTLER ALBERTA PRIME HIGHWAY COMMERCIAL 4&37*$&% -054 IDEAL FOR TRUCK STOP RESTAURANT TRUCK WASH MOTEL .......... ETC. For more info : email: ggmckay1@gmail.com phone: 403-318-8483

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

808508/ from B17

of 20,000 in the area. While Calgary’s prime retail space may be virtually full these days, it’s not from a true building slowdown. Quite the contrary. Alberta’s largest city enjoyed a relatively strong 2011 on the building front, with the city’s building-permit values up a healthy 51.4 per cent for the first 11 months of the year over 2010. Store owners are likely hoping retail inventory doesn’t drop further in their world, where renewals are often less problematic than moving in a tight Calgary market – one Beall says is influenced by the city’s approach to business regulation. “It’s becoming increasingly more difficult to open and operate businesses in Calgary. That’s probably the only thing that’s hampering our growth right now, from a retail perspective,� Beall said. Obtaining a development permit can be difficult. The same is true of relocating. “The change-of-use process is onerous and painful, and it’s becoming increasingly difficult for all tenants,� Beall said. “Our renewal rates are very, very high typically in retail. We don’t see a lot of relocations.� Residential construction through November was pushed up by a 362 per cent hike in the

value of apartment/condo construction (3,257 units for 11 months of 2011 versus 882 for 2010). Commercial and industrial values jumped almost 78 per cent from a slow 2010, but were also up in the bigger picture. “It’s impressive that [2011] values are up compared to the five- and 10-year averages, especially considering the record values that have been posted in recent years,� noted David Watson, the City of Calgary’s general manager of planning and development. Even without final figures in for 2011, the city was looking at 2011 as its thirdbest year ever for permit values. Meanwhile, the office market has amazed analysts, with 3.7 million square feet leased in the past year, nearly five times the annual 10-year average, accordng to a study by Newmark Knight Frank Devencore. Over the last two years, the downtown market has leased the equivalent of over three entire Bow buildings, the company found.

“At $88,410 Calgarians have Western Canada’s highest annual family income�

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The price of a home in Calgary ended the year roughly where it started, with the Calgary Real Estate Board (CREB) pegging the cost of an average single-family home at the end of 2011 at $466,402 – a 1 per cent hike. Condo prices fell about 1 per cent in 2011 to an average of $287,172.

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CALGARY

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OKOTOKS âœŞ

$BMHBSZ "# Population 1,091,000 Annual household income $88,410 2012 projected GDP growth 3.5 per cent Warehouse lease rates (avg.) $7.64 per square foot Streetfront retail $30 to $80 psf. Macleod Trail retail vacancy 0.64 per cent Office vacancy 7.2 per cent

CREB president Sano Stante is predicting the average detached house price this year will reach $476,000 and the typical condo price will be $292,000. The reasoning is based on an expected net migration of 20,333 people into the city and Calgary employment growing by nearly 3 per cent this year. As well, mortgage rates have been cut to the lowest level in history.â—†

CURRENT OFFERINGS

VISIT OUR WEBSITE AT: www.calgaryland.net

s ! &LAGGED &ULL 3ERVICE (OTEL, strategically well placed in a Premier location, completely up-graded, signiďŹ cant mortgage ďŹ nancing, very strong revenue performances; a good investment with a big up-side potential going forward. !SKING

$"-("3: "3&" %&7&-01.&/5 -"/%4 EAST CALGARY - 84 ST. SE 98 Acres near Stoney Trail $15.6 Million ROCKY MOUNTAIN HOUSE Golf Course, Campground and Development Land. 303 Acres, Zoned Recreational $3.79 Million ROCKY VIEW 160 Acres on Country Hills Boulevard $5.6 Million

s ! &LAGGED 2OOM &ULL 3ERVICE (OTEL well located in a prime commercial area a dynamic city, the stellar performance of its operation is attested to by its continuous outstanding growth in revenues, plus substantial up-side potential. !SKING s ! &LAGGED 2OOM ,IMITED 3ERVICE (OTEL consisting a variety of suites, well located with highway exposure and surrounded by a substantial number of conveniences, continued superb revenue performances that yield substantial N.O.I. that ultimately result in excellent return on equity and investment. !SKING s ! &LAGGED 2OOM ,IMITED 3ERVICE (OTEL, featuring indoor Swimming pool among its other amenities, very well located on a service road that gives it highway exposure, outstanding Revenue/ occupancy performances. !SKING

EAST CALGARY CALGARY - 844 St. NE 160 Acres near Stoney Trail $32 Million

s ACRES OF VACANT PRIME COMMERCIAL LAND available for immediate Development in a most sought after location with main artery exposure and very high daily vehicle trafďŹ c count., priced for immediate sale at an ASKING PRICE OF .

EAST CALGARY - 17 Ave SE 13.52 Acres Stoney Trail Frontage $6.76 Million

s 5RBAN 2ESERVE ,AND with potential uses for highway commercial and residential in a town with tremendous growth potential going forward, VERY REASONABLY PRICED AT

CHESTERMERE - SIERRA VISTA Single & Multi Family, Retail, Golf Course, Area Structure Plan. 5-7 Units Per Acre 53 Acres - $6.9 Million 88 Acres - $8.9 Million 140 Acres - $16.1 Million 160 Acres - $18.4 Million

s ,OCATED IN A VERY POPLAR 3KI 2ESORT ! .EW $ELUXE "EDROOM #ONDO consisting of 2bathrooms, ďŹ replace, cable among many other superb Features, plus the many amenities such as swimming pool, sauna, ďŹ tness Center, indoor parking to name a few within the Building Complex’ Immediate possession available, a great buy with cash to an existing mortgage of $330,900.00 more or less, at the ASKING PRICE OF

KEVIN MOORE (403) 617-2846 XXX DBMHBSZMBOE OFU

-FHBDZ 3FBM &TUBUF 4FSWJDFT -BOE %FWFMPQNFOU BOE .BSLFUJOH $PNQMJNFOUBSZ -BOE 0XOFS $POTVMUBUJPO

Alberta B19

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

e t a t s E l a e R e S ylvan L ake, A lberta Prim

BOWDE N ALBERTA LEASING OPPORTUNITY OFFICE/COMMERCIAL Modern building up to 180002ft with 80+ parking stalls. One hour North of Calgary airport with high visibility and 2 minute access to QE II Highway. High traffic volume $10 /sq ft NNN

Call CARL STEPP cell: 403-358-9300 www.sylvanlakehouseguy.com RE/MAX real estate central alberta

ÕÃ iÃÃiÃÊUÊ iÀV > Ê > `ÊUÊ > ivÀ ÌÃ

DON WILSON 403 559 7781 dwilson.vsm@gmail.com

Each office is independently owned and operated.

PRIME LAND IN NORTH EDMONTON !!!

REVENUE OPPORTUNITIES

140 ACRES - Hwy 37 and 50th St

This large area of land is bordering Edmonton and has the city snow dump 1/2 km east of it. 66 St Edmonton to divide property into two parts. Next to the Edmonton Technology Park. Phone for more info!!

4-PLEX IN COLD LAKE PRICE $525,000 FULLY OCCUPIED

MLS #

E3283899

$2,534,400

75 ACRES - 127th St & 190 Ave Prime area situated on the border of city of Edmonton. This 75 acre parcel has plenty of potential. 1 km from new Anthony Henday, South City development Goodridge corners has draft ready. Neighboring city of St Albert 1/2 Km west.

MLS # E3282654

$4,875,650 DORIS THERIAULT

1-780-264-0010 dorisremax@hotmail.com www.StAlbertAB.com

Turn Key Horse Operation with Instant Cash Flow! Located east of Edmonton. Large equestrian facility with indoor arena and round pen. 35 stall barn all with automatic waterers and lined with puck board. Outside paddocks have automatic heated waterers. Has been in operation as a boarding and training business for several years. Includes a large home with 3 car attached garage and full basement. 2 bedroom mobile home for staff, or could be leased out for extra revenue.

GREAT LOCATION/REVENUE 1.1 ACRE PAVED LOT. 16,800 SQ.FT. INCLUDING 2,000 SQ.FT. MEZ/OFFICE.

LAND & BUILDING ONLY

$1,175,000

Call for further details on revenue, expenses and to discuss how you could be running this facility.

RE/MAX Real Estate

JOE & MATT GAGLIONE

780-488-4000 or 780-953-3171 mgaglione@remax.net www.gaglionerealestate.com

2 COMMERCIAL VACANT LOTS ON 50TH STREET IN COLD LAKE ideal for new develoopment 110 ft of frontage

$239,900

Adjacent lot to the above 165’ x 125’ with a 40’ x 60’ warehouse. All chain link fenced

$239,900

7.2 ACRES ZONED HIGHWAY COMMERCIAL Services prepaid

RE/MAX Cold Lake 2000

$749,900

Larry Melanchuk, Associate Broker Cell: 780.826.0100 www.coldlake.info TF: 1.800.707.8374 A Division of Cold Lake 2000 Realty. Independantly owned & operated.

Attention

☞

Agents:

REACH QUALIFIED BUYERS FOR YOUR LISTINGS

☞

call Gary Takahashi toll-free: 1-800-661-6988 direct: 604-608-5111 fax: (604) 669-2154 email: gtakahashi@westerninvestor.com

Each office is independently owned and operated.

B20 Alberta

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

CENTRAL ALBERTA CAMPGROUND OPPORTUNITIES

LAKEFRONT! 403-347-0744 LAKEFRONT BEAUTY ONLY 90 MINS FROM CALGARY

$3,250,000 KACIKEWIN CAMPGROUND & CABINS Only 40 min. west of Edm. 10.00 +/- Fully treed acres. 89 beautiful lakefront sites. Fully rented last 9 yrs. Store/Manager's residence. Room for expansion! Large sandy beach area. Located west of Alberta Beach on Lac Ste. Anne.

Chalet style cottage or year round home on a quiet cove. Absolutely loaded with upgrades and features. Walkout basement. Stunning views from all decks. Private Parklike yard with paved drive and mature landscaping. Excellent waterfront depth and dock system. Pine Lake is famous for its sandy bottom, excellent boating, watersports and ďŹ shing opportunities. One of a kind property guaranteed to impress. Only 90 mins from Calgary and 25 mins East of Red Deer. More info at www.pinelakeproperties. ca

$829,900

7 / \ĂŠ /, ĂŠ ,/ ĂŠ " ĂŠ " ĂŠ* , -°ĂŠ7 ĂŠ 6 ĂŠ 19 ,-ttt

ALBERTA IS AGAIN MOVING! MOTELS & HOTELS

≼PROVOST Brand new 44 unit motel. Asking $4.5M ≼CAMROSE 20 unit motel, (nice Ma & Pa

SUTTON LANDMARK REALTY / RED DEER, AB

Liquor Store. Shows excellent Rev. Ask $7.7M

operation) upgraded and very clean, Asking $1.1M. HARDISTY New 44 unit Motel. NAMPA, ALBERTAin busy boom town, 16 unit motel, 100 seat lounge, VLTs, liquor store and restaurant. PRICE REDUCED TO $990,000! CAMROSE ALBERTA68 room, full services Hotel. REDUCED - NOW $4.0M.

OTHER INVESTMENTS

≼ ≼

≼DAYSLAND Convenience store and Gas Bar.,

≼

≼

DUSTY SMITH TEAM {ä·Î{LJäÇ{{ĂŠUĂŠĂœĂœĂœ°`Ă•ĂƒĂŒĂžĂƒÂ“ÂˆĂŒÂ…ĂŒi>“°V>

≼ FULL SERVICES63 Unit Motel with Rest., Pub,

email:swancity@telusplanet.net www.swancityrealty.com

Mechanical shop, all located on a 1.5 acre parcel with residence. Shows good revenue. Asking $375,000. CAMROSE, AB2 Side by Side, newer 4 plexes. Fully leased. Asking $560,000 each

SOLD

FOR MORE INFORMATION CALL OREST: 780-679-8353 FAX: 780-672-1897 CAMROSE, ALBERTA

www.cwedm.com

CUSHMAN & WAKEFIELD EDMONTON 2300 Sunlife Building, 10123 - 99 Street, Edmonton, AB T5J 3H1

780-420-1177

investment@cwedm.com

MULTI-FAMILY OPPORTUNITIES s "ANK 3ALE RESIDENTIAL UNITS MAIN mOOR UNITS PARTIALLY COMPLETE 7ESTLOCK !" s UNITS IN 7EST %DMONTON OR OR BDM UNITS s UNITS CENTRAL LOCATION CONCRETE CONSTRUCTION NEW ROOF AND WINDOWS s UNITS IN BUILDINGS IN 7ETASKIWIN BDMS s (IGHRISE SITE ON *ASPER !VE S F ACROSS FROM 2IVER 6ALLEY IMPROVED WITH APT BLDGS UNITS s (IGHRISE SITE IN 2UTHERFORD ACRES ZONED FOR UNITS IN DYNAMIC AREA s (IGH DENSITY DEV SITES APT OPPORTUNITIES IN 7ETASKIWIN s ,AC ,A "ICHE -OBILE (OME 0ARK PAD AND ACRE SITE s UNITS 1UEEN -ARY NEIGHBOURHOOD BDMS s UNITS -ORINVILLE MINUTES FROM 3T !LBERT BUILT Apartment product is in demand! Please call for our opinion of value of your building!

CHRISTOPHER KAMPHIUS or RAPHAEL YAU multifamily@cwedm.com

COMMERCIAL CONDOS n SQ FT LOCATED AT INTERSECTION OF &ORT 2OAD 7AYNE 'RETZKY $RIVE 9ELLOWHEAD STARTING AT SQ FT CONTACT BURKE SMITH

burke.smith@cwedm.com

DEVELOPMENT OPPORTUNITIES

+/- 19,701.20 SQ FT: Vacant serviced site in NE Edmonton. Zoned CB1 (Low Intensity Business Zone) ......................................... $395,000 +/- 0.947 ACRES: in Valemount, BC. Zoned C3 (Service Commercial) ................................ $49,500 +/- 1.05 ACRES: in Valemount, BC. Zoned HC (Highway Tourist Commercial) .............$455,000 +/- 3.84 ACRES: Fronting St.Albert Trail, Zoned IB (Industrial Business)........................ $3,500,000 +/-13,812 SQ FT: 8204 – 106 AVENUE ‌‌‌. .......................................................$495,000 +/- 0.31 ACRES: high visibilty location on 111 Avenue .......................................................$610,000 CONTACT JEFF MCCAMMON OR DOUG BAUER

INVESTMENT SALES SITE

PRIME WEST EDMONTON LAND – RA7 s 2EADY TO BUILD s ACRES s !SKING CONTACT JEFF McCAMMON / DOUG BAUER OR DUSTIN BATEYKO

STETTLER MALL, STETTLER, AB s ¢ SQ FT ON ACRES ANCHORED BY 4HE "RICK 0EAVEY -ART AND !4" s *UST SQ FT s ,OCATED IN THE HEART OF !LBERTA

WESTLOCK MALL, WESTLOCK, AB s ¢ SQ FT ON ACRES ANCHORED BY 0EAVEY -ART AND 4HE "ARGAIN 3HOP s SQ FT s !TTRACTIVE RETURNS

CONTACT DAVID COONEY / DOUG FOGG OR HOWARD McCANN

DUGGAN MALL, CAMROSE, AB s ¢ SQ FT SEPARATELY TITLED DEPT STORE ANCHORING A MAJOR ENCLOSED SHOPPING CENTRE ASKING -ILLION SQ FT

MULHURST BAY CROSSING

s $EVELOPMENT ,AND s ACRES ON 0IGEON ,AKE s !REA 3TRUCTURE 0LAN APPROVED s DWELLING UNITS s SITE 2 6 SEASONAL PARK s ACRES COMMERCIAL DEVELOPMENT SITE

INDUSTRIAL BUILDING FOR SALE s BUILDING COMPLEX s &ULLY LEASED TO TENANTS s

CONTACT JEFF McCAMMON OR DOUG BAUER

SPRUCE GROVE, DEVELOPMENT LAND

s !DJACENT TO 3UPERSTORE AND (OME $EPOT s 0ARCELS FROM ACRES s 'REAT OWNER USER LAND JOIN -ACgS

CONTACT DOUG FOGG OR MARK McCANN

QUESNEL, BRITISH COLUMBIA s !N IDEAL OPPORTUNITY FOR AN INVESTOR INTERESTED IN LONG TERM INCOME STABILITY AS #ENTRE IS LEASED TO .ATIONAL BRANDED TENANTS s 4ENANTS INCLUDE "OSTON 0IZZA )2)3 AND ! 7 s 3TABILIZED NET INCOME OF CONTACT HOWARD McCANN / DOUG FOGG OR ADAM MARTINSON

OFFICE BUILDING FOR SALE s 7ELL LOCATED STOREY OFlCE BUILDING ON 3TREET s %XCELLENT OWNER USER OPPORTUNITY WITH DENTAL OFlCE BUILT OUT ON MAIN mOOR s 4OTAL OF SQ FT ABOVE GROUND s

CONTACT IAN NEWMAN

FORT MCMURRAY, AB s &ORMER &ORT 4HEATRE s SQ FT SITE WHICH INCLUDES A SQ FT BUILDING

CONTACT DOUG RAE

MERRITT, BRITISH COLUMBIA s ¢ SQ FT FREE STANDING BUILDING FOR 3ALE OR ,EASE s )NCLUDES BONUS PARKING LOT s ,EASE SQ FT 3ALE

CONTACT murry.osborne@cwedm.com or scott.sowinski@cwedm.com

EDSON LANDING - $3,950,000 s SQ FT ON ACRES IN %DSON !" s !N OPPORTUNITY TO OWN A QUALITY SHOPPING CENTRE WHICH IS LEASED TO EXCELLENT TENANTS WITH CLEAR TITLE SUPERIOR CONSTRUCTION IN A TREMENDOUS HIGHWAY LOCATION

CONTACT HOWARD MCCANN / DOUG FOGG OR ADAM MARTINSON

FORMER WAL-MART, MEDICINE HAT s (IGH PROlLE REDEVELOPMENT OPPORTUNITY s ACRES S F BUILDING s

CONTACT HOWARD OR MARK McCANN

Alberta B21

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

"MCFSUB

Province nets record rights sale

High River annexes W 1,700 acres

hile urban municipalities are expanding, the oil and gas industry in Alberta continues to gobble up the rights for oil and gas deposits in the province – and to pay significantly for those rights. The province announced in late December he southern Alberta town of High River that it took in more than $3.5 billion during grew significantly on January 1. The community of 12,000 about a half hour 2011 for the sale of oil and gas rights. That figure is roughly 48 per cent higher south of Calgary swallowed up 1,769 additionthan sales in 2010, the previous record year. al acres under an annexation deal approved “Land sales illustrate that Alberta conlate in 2011 by the province’s Municipal tinues to be competitive in attracting new Government Board (MGB). The land added to High River was formerly investment, which benefits all Albertans,� said Energy Minister Ted Morton, who went in the Municipal District of Foothills. The annexation was supported by both the on to credit new technologies to access deeper deposits as mechanisms that will keep rural town and the M.D., but was not supported by some mineral rights owners. As well, some communities strong – and resource revenue M.D. landowners weren’t happy to be left out flowing to the government. of the annexation. In approving the annexation, the MGB ordered the town to pay $800,000 to the M.D. as compensation – an amount the two municipalities had agreed on. In its written decision, the MGB noted: “The board places considerable weight on the fact this compensation amount is the result of successful negotiations between the two he City of St. Albert wants to actively municipalities.� pursue with landowners the developThe board also commented on the objection ment of designated industrial lands in the of mineral rights owners to the annexation. southwest and southeast corners of the “The denial of the entire annexation appli- city, to accommodate industrial growth for cation, or, alternatively the exclusion of the next several years. But there is a hitch. (certain lands) from the annexation applicaCity council for the Edmonton suburb tion, would mean that the standpoint of the has directed its administration to conduct a surface landowners would be forfeit in order review of commercial and industrial lands, to accommodate the standpoint of the subsur- and to work with landowners of the zoned face mineral rights owners.� lands to move forward with servicing and The board noted the province’s Energy development. It also wants to explorechanges Resources Conservation Board can still approve to the city’s land-use bylaw and an area oil and gas wells in an urban municipality. structure plan that could allow for industrial High River is located in an established oiluse of lands west of Ray Gibbon Drive, which and natural gas-producing region. connects St. Albert to the Anthony Henday The town says the annexation will provide freeway around northwest Edmonton. enough land to cater to High River’s growth But St. Albert council also opted to postfor the next 30 years. Its next step is to prepone designating new areas for industrial pare a growth management strategy for the zoning prior to April 30, 2012. annexed lands. A public consultation process “Council believes that we need to get a for that started in January. better handle on the regional market for

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St. Albert recruiting new industrial builders

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4QSVDF (SPWF BQQSPWFT N NJYFE VTF QSPKFDU he City of Spruce Grove has approved a key new development and a necessary land sale to accommodate it. The $30-million development, known as Tri Village Commons, is adjacent to the Tri Village Commons now underway in Spruce Grove. Edmonton suburb’s popular TransAlta Tri Leisure Centre. The city approved the sale to Tri Village Developments Ltd. at the appraised market value of $565,000 per acre for the 2.2-acre site. It will feature a village theme and include a four-storeyHoliday Inn Express and Suites with conference facilities, a three-storey professional building and several one-storey buildings featuring retail and restaurant space. The project’s development-permit application is expected to pass early in 2012. Spruce Grove, located 10 minutes west of Edmonton on Highway 16, has enjoyed relatively strong success in attracting new commercial development in the past five years. Construction on the project is expected to start in spring 2012, according to city officials. Lease space is available from 1,000 square feet to 60,000 square feet. Tri Village Commons being developed by Tri Village Development and marketed byColliers International.

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industrial lands before we can make a final decision,� said Mayor Nolan Crouse. The mayor called the decision “prudent,� and emphasized his city – whose growth has been slower than other Edmonton-area municipalities – is determined to see business growth. he central Alberta city of Wetaskiwin, “We absolutely remain committed to the priknown as the car-buying capital of ority of economic development,� Crouse said. Alberta, has rolled closer to a fancy new aquatic centre, but not without agreeing to take on more debt. In a split vote, the council for the city of 12,000 a half hour southeast of Edmonton, voted to approve a borrowing bylaw that will see the city take on up to $12 million in new debt uilding activity in Red Deer remained in for the Wetaskiwin Regional Aquatic Centre. The facility, viewed by some as a key piece bounce-back mode for 2011. for shopping, in-migration and related ecoAccording to City of Red Deer figures, building-permit values in the central Alberta nomic activity in Wetaskiwin, is expected city were up about 70 per cent for the first 11 to cost about $22.4 million, compared with months of the year, with 2011 permits valued about $18.6 million that was initially estimated. It will replace a 30-year-old facility. at $160.4 million, versus only $93.8 million The County of Wetaskiwin is contributing for the same period in 2010. Commercial and industrial values more than $4 million to the new project in the agriculture/oilpatch/retail-service centre.◆ doubled those, while residential values were up by a more modest 10 per cent. – Compiled by Dave Husdal

Wetaskiwin bites debt bullet

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Red Deer permits up 70 per cent

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CALGARY BUSINESSES FOR SALE! RV & campers: rent, repair & custom work - Very proďŹ table, good location - $500,000 Yoga studio in growing community - Steady increase in membership & sales - $60,000

Tim Walsh, Commercial RealtorÂŽ Direct: (403)239-5100 Calgary, Alberta

Tim Walsh, Commercial REALTORÂŽ s Direct: (403)239-5100 Email: info@BestAlbertaRealEstate.com www.BestAlbertaRealEstate.com

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Asking $2,532,500 - Ponoka, Alberta

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ROCKY PARK CIR REALTY 403-681-7512 www.rockypark.ca PEACE RIVER, ALBERTA FOR SALE: COMMERCIAL BUILDING

SOLD SOLD SOLD

11.55 acres, 8 individual lots with a 5000 sf unďŹ nished panelized structure on Lot #10 (Lot #10 - 15 are 6 contiguous lots; Lots 19 & 20 are 2 contiguous lots) Located at 49th Street and 60th Avenue in the north Industrial Park within the town limits. Site is provided with all municipal services, and a railway spur connection to the main CPR line between Calgary and Edmonton. Recent rail crossing was completed by town of Ponoka. Excellent manufacturing site or stage area for Oil Sands or other Northern Industrial projects. Lots are for sale individually or as a whole parcel. Owner may sell entire parcel within the Corporation with tax loss advantage to purchaser. MLS# C1019384, C1019385, C1019387, C1019388, C1019389, C1019390, C1019391 and C1019392

Mary Yuen-Sears, Realtor SUTTON GROUP - CANWEST #1, 555 Hawkwood Blvd NW, Calgary, AB T3G 3K2 #ELL s &AX %MAIL MARY CALGARYTAGTEAM COM s WWW CALGARYTAGTEAM COM

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Presently leased - some Vacancies available. 37,000 sq. ft. on 2.99 acres. Includes commercial Kitchen, banquet room plus smaller ofďŹ ces. Many upgrades and renovations. Downtown location - plenty of parking.

Offered for $2,500,000 NORTHERN ALBERTA FULL SERVICE HOTEL FOR SALE

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81 rooms and suites - on 12.5 acres. Highway frontage - lots of parking. 76 seat coffee shop, 135 seat dining room, 80 seat pub, 160 seat Sports Bar with VLT’s. 2 homes for staff housing.

Offered for $16,000,000 For Further Information and Details, Call RE/MAX GRANDE PRAIRIE

Thiry Kelemen 780-831-8804 thiry@telus.net

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INDUSTRIAL LAND

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• 3000 sq ft character ofďŹ ce space - Victoria Park • 4000 sq ft Penthouse ofďŹ ce space - 17th Ave S.W. Calgary • 1500 sq ft fully equipped restaurant space for lease • RV Repair Business, Calgary - $650,000 • Neighbourhood Shopping Centre - $4.2M • SW Calgary neighbourhood - Deli - $69,500 • 6 Unit Condo - NW Calgary - $1.2 Million

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Tyler R. Shannon Vice President, Investment, Associate Direct Tel: 403 508 6471 Mobile: 403 681 1555 tyler.shannon@dtzbarnicke.com

1410, 715 Fifth Avenue SW Calgary, Alberta, T2P 2X6 /iÂ?\ĂŠ{äĂŽĂŠxänĂŠÂŁĂ“ÂŁxĂŠUĂŠ >Ă?\ĂŠ{äĂŽĂŠxänĂŠĂ“ĂˆĂ‡xĂŠĂŠĂŠUĂŠĂŠĂŠĂœĂœĂœ°`ĂŒâL>Ă€Â˜ÂˆVÂŽi°Vœ“

YOUR ADVANTAGE IN ALBERTA SHOPPING PLAZA, HOTEL IN BIG CITY s!SKING s 2%6 - Hotel: $1,110,695; Rental: $513,253; Others: $669,734 s OVERSIZED ROOMS PLUS TENANTS AND OTHER BIG REV INCOME SOURCE s ,OCATED IN BIG CITY DOWNTOWN CORE WITH ACRES OF LAND AND SQ FT BUILDING TRUCK STOP & RETAIL SPACE IN CALGARY s!SKING s 4RAVEL FACILITY COMPRISING SQ FT ON A !CRE SITE PROVIDES FOR FUTURE RE DEVELOPMENT s 3TRONG SALES WITH LONG HISTORY AND TENANTS INCLUDING NATIONAL BRAND NAME LIMITED SERVICE MOTEL s!SKING - s 2OOMS "UILT *AN MONEY MAKING FRANCHISE MOTEL s!SKING - s2%6 s YRS OLD VERY BUSY LOCATION s,IMITED 3ERVICE 2OOMS LOCATED IN VERY BUSY CITY NEW FRANCHISE MOTEL NEAR CALGARY s!SKING s ROOMS s YEARS OLD AND - REVENUE s ,OCATED NEAR BIG CITY LIMITED SERVICE FRANCHISE MOTEL s!SKING - s YEARS OLD STOREY ROOMS s3WIMMING 0OOL W WATER SLIDE s3ITUATED WITH EXCELLENT EXPOSURE IN BIG CITY !" LIMITED SERVICE MOTEL s!SKING - s 2OOMS "UILT LIMITED SERVICE FRANCHISE MOTEL s!SKING - s6ERY STEADY REVENUE s 2OOMS WITH SWIMMING POOL WATERSLIDE s,OCATED IN BIG CITY IN !LBERTA LIMITED SERVICE MOTEL s!SKING - s 2OOMS "UILT !PRIL MOTEL IN B.C. s!SKING - s2%6 s 2OOMS W ,EASED 2ESTAURANT ,OUNGE s7ATERSLIDE 3AUNA 0OOL s,OCATED 4RANS #ANADA HIGHWAY WITH AMAZING VIEW s5NDER RENOVATION FOR &RANCHISE mAG FRANCHISE MOTEL IN SOUTHERN ALBERTA s!SKING - s2%6 s 2EV IS VERY STEADY PAST FEW YEARS DURING RECESSION s ROOMS WITH CLIENT BASE FROM 0ROVINCIAL &EDERAL EMPLOYEES TOURISTS AND OIL GAS AGRICULTURE GAS BAR / CAR WASH s!SKING - s2%6 s'REAT FACILITY YEARS OLD LOCATED IN BIG !" CITY s%XTRA ACRE OF LAND VALUED AT OVER - GAS BAR, C-STORE AND A&W s!SKING s 2%6 'AS "AR # 3TORE ! 7 s. / ) CAR WASH NEAR CALGARY s!SKING - s2%6 s BAY AND AUTO s9EAR SHOPPING MALL s!SKING - s. / ) s TENANTS MOTEL WITH RESTAURANT IN SK s!SKING - s 2OOMS s2%6 2OOMS 2%34!52!.4 s'REAT LOCATION IN THE CORE OF THE OIL INDUSTRY MOTEL WITH RESTAURANT s!SKING s2%6 s 2OOMS 6,4

MAXWELL

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Email: francisleemaxwell@gmail.com #20, 8180 Macleod Tr. South, Calgary

B23

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

REGIONAL ROUNDUP Gun-shy developers in booming capital can still count on government handouts

(VUMFTT JO 3FHJOB WESTERN INVESTOR ne hundred and ten years ago when immigrants arrived on the Saskatchewan prairie near currentday Regina some sheltered in pits dug into the ground against the severe winter. Come spring, the rugged and ragged men would walk miles to work on railroads while women and children hitched themselves to plows to begin Canada’s richest agriculture industry. It was this level of independent grit and courage that created Saskatchewan and its capital city. It is now appears a rare commodity.

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Today, Regina has one of Canada’s strongest economies – ranked fourth for GDP growth – a growing population and such high demand for real estate that less than 1 per cent of office space is vacant and the apartment market and industrial sectors are the tightest in North America. Yet city developers have become so cautious that Regina taxpayers are doling out millions of dollars in tax breaks and incentives to convince them to build new offices or homes. “I think it is bit of a hangover from theNDP days,� said Paul Mehlsen, managing director and a veteran commercial real estate specialist with NAI Commercial in Regina for more than 25 years. Mehlsen is only half joking. He notes that for years the provincial government was the dominant office tenant in the city, a fact that lulled the developers into a state of near inertia. Not a single new office building was built in Regina in the past 20 years, despite every indicator signalling a boom forming in Saskatchewan’s resource sector. When a new tower was finally opened last year – the 400,000-square foot, 16-storey Mosaic building – more than half the space was claimed by government and the city kicked in a three-year tax break to the developer.

Harvard Developments has just started construction on Tower III, a $100 million, 200,000-square-foot, 18-storey instant landmark that is already fully leased. With such demand for office space that the Class A vacancy is estimated at 0.8 per cent – the lowest ever recorded in Canada – it would appear developers would need no further incentives to build on spec. But this is Regina. This year, the city is offering any developer who builds new office space downtown a 20 per cent annual tax break for three years if it builds Class A or Class B space. Property taxes for such projects can range from $500,000 to $1 million per year. The incentive will stay in place until the office vacancy rate reaches at least 5 per cent, according to city officials.

“The incentives will convince developers to pull the trigger.� “Developers aren’t building on speculation,� explained Larry Hines, president and CEO of the Regina Regional Opportunities Commission. “If someone comes into Regina looking for 50,000 square feet downtown, we don’t have it. The city is missing an opportunity.� The lack of available space, he said, could convince potential tenants to locate in the suburbs or – horror – Saskatoon or other western cities. “The incentives will convince developers to pull the trigger,� Hines said. Melhsen has a simpler explanation why the office incentives are in place: “The Mosaic tower got it, so everyone else wanted it.� There are some who worry that government handouts may not be the best method to encourage office construction. John Hopkins, CEO of the Regina and District Chamber of Commerce, has voiced concern that the

incentives could distort the market. Tenants could begin relocating to buildings receiving the tax exemption, he suggests. But tenants apparently won’t be getting any breaks on rents in the subsidized office space. NAI estimates that new Class A office lease rates in downtown Regina demand $35 to $37 per square foot, similar to that charged in Calgary and Edmonton, where spec office building is normal.

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It is not only the office market where government is handing money to developers. Regina is also wheelbarrelling cash this year to developers who built either rentals or condominiums in the downtown and selected areas. This is in a city where the rental vacancy rate is pegged by Harvard Developments Tower III: 18-storey tower Canada Mortgage and Housing under construction in downtown Regina. Corp. (CMHC) at 0.6 per cent, the lowest in a moratorium on the conversion of rental apartCanada if not all of North America. ments to condos, though many of the condos Rental rates for two-bedroom apartments are bought by investors who rent them out. are up 6.2 per cent from a year ago, the highest CMHC says that the number of condominiums increase among the 25 major centres CMHC identified as rentals totals 897 suites, a two-fold surveyed in its fall 2011 report. The average increase from its October 2010 survey. And there is even more government help for monthly rent for all apartments in Regina increased to $850 in October from $802 last home builders. October, the report said. The city is also linked to new provincial Sounds like developers would need no “headstart on a home� and “affordable home encouragement to build more homes. Think ownership� programs. The incentives may again. The City of Regina is offering a five- seem redundant in Regina, which has both year tax exemption for new residential condo- the lowest average housing prices of any miniums or rental projects under its recently major Canadian city west of the Maritimes, at expanded Residential Tax Incentive Program. $276,000, and the lowest unemployment rate. The city also offers a tax exemption of $7,500 Headstart offers low-interest loans directly to per suite for five years for anyone who converts builders and developers of “moderately priced� space into housing in Regina’s old warehouse homes. The affordable home ownership prodistrict. Developers may apply for an exemp- gram gives home buyers down-paymen t tion on several units at once or for a whole assistance of up to $5,000. The province also phase of construction. The city has also slapped Please see Growth page B24 Photo: Harvard Developments

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3FHJOB 4, Population 210,000 Average house price $279,000 Class A office vacancy 0.8 per cent Residential vacancy rate 0.6 per cent GDP Ranking in Canada Fourth

ing to fuel the GTH and Regina’s industrial market. According to the Conference Board of Canada, Regina’s economy grew by more than 5 per cent in 2011, second best in Canada Growth will ease to 2.9 per cent in 2012, which still ranks Regina fourth among Canada’s major cities. Strong employment growth is drawing migrants to the city, the board said. Said Schmidtz of the current Regina upturn. “This is no blip,� he said. “Regina is the new Alberta.�◆

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Petrofka Bridge Orchard MLSÂŽ 410521 Beautiful acreage / progressive apple orchard 35 acres located on the North Saskatchewan River 55 kms north of Saskatoon. 1664 Sq Ft Bungalow, processing building, walkin freezer. $849,900

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MLSÂŽ 417758 Excellent development opportunity only Ed Bobiash 5 km East of Saskatoon. Adjacent to Farm & Acreage Specialist 306-222-7770 s ed@edbobiash.com land recently approved for multi parcel $899,000 www.SaskLand4Sale.com development.

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t The UPS Store, downtown Saskatoon. Open for 3 years. $200,000 t Retail store “Cool Collectibles� since 1998, owner selling for health reasons. Located in front of entrance of new Target Store in the Centre Mall on 8th Street East, Saskatoon, Sask. $75,000

t A “Treats� franchise, just opened in new Student's Union food court on University of Saskatchewan Campus. Saskatoon $245,000

t Hotel/Motel, Bar & Restaurant including real estate located in the town of Wilkie, Saskatchewan. Owner's wanting to retire. $495,000

ADAM NIESNER REALTY (1991) LTD

Regina Commercial Properties OPA OF GREECE FRANCHISE Grasslands Mall in Harbour Landing. Open since Feb. 2011 $420,000 SNACK SHACK AT LUMSDEN 13 acres prime commercial land plus thriving summer fast food takeout business. Turn-key. All equipment. $765,000 SHERWOOD INDUSTRIAL PARK Close to Evraz Steel Plant. Phase 2 –industrial park – 4 acre lots GLOBAL TRANSPORTATION HUB Future development land located around the Hub and on Pinkie Road. Call Now For Details

t 235 Seat Restaurant and/or real estate located on the Main Street of the town of Kindersley R E / M A X G U A R D I A N C O M M E R C I A L - S A S K AT O O N Contact: Harley Greening 306.665.4444 www.remax-guardiansk.ca t: 306.665.4445 e: harleyg@remax-guardiansk.ca

www.westerninvestor.com

Melfort SK

85 seat beverage room off sale 25 seat covered deck VLT’s 2000 sq ft main oor living quarters 5 guest rooms 10 min drive from Nipawin, SK Great area MLSŽ #419375 ANDY EVERTON Sales Agent 1-306-921-9396 Colleen Ratcliffe 1-306-921-8637 RE/MAX Keystone Realty 1-306-752-8470

PRAIRIE DEALS MOTELS - BONNEYVILLE, AB: Great Oil Town! 24 units + Manager's suite. Asking $1.2M MOTELS - COMING SOON! Call Us Today, SASK. WATCH FOR THEM HERE! 3.25 ACRES - Industrial lot - $499,000 Motivated Seller! BUILDING IN REGINA, SK Corner Parks Dewdney 4000 SF free standing $599,900 WAREHOUSE/CONDO BAY - FOR SALE: New construction, Starting $295,500 - 1500 sq. ft. + 2 units sold – 2 leases WANTED: Apartments Strip Malls, Hotels/ Motels, Parking Lots. ALL LOCATIONS

NAI senior commercial agent Micky Schmidtz dismisses critics who say Regina developers are cowardly and points to the robust industrial sector as proof. “Industrial is the blood and guts of real estate here,� said Schmidtz, who noted that speculative development is common, supply is tight and land prices are soaring. The city, the largest owner of industrial land, is about to release its final 60 acres of industrial-zoned land. Five years ago industrial land was selling for $80,000 an acre. A year ago it was $230,000. The next batch is expected to fetch at least $350,000 per acre in 2012, NAI estimates. With the city land drying up, industrial development will be on the privately owned land to the east of the city, where Melcor Holdings Ltd. is releasing lots, and to the giant Global Transportation Hub (GTH). Phase 1 construction of a million-square-foot distribution centre in the Hub, adjacent to the new Canadian Pacific intermodal facility, is complete with more than 425,000 square feet in use. Phase 2 is underway with an additional 565,000 square feet operational in 2012. Schmidtz points out that industrial action around the Balkan oilfields – which extend into the U.S. – is help-

11

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WAREHOUSE BAYS WITH COMPOUND SPACE 1650 & 1676 Ebel Road, Weyburn, SK 1680 SF - 2160 SF Bays - Can be combined Lease Rate: $14.00 per sq.ft. Sale Rate: $160.00 per sq.ft. Call: Jaimey Farnese & Ken Kreutzwieser

REGINA RESTAURANT FOR SALE 2589 Quance Street, Regina, SK /RFDWHG LQ SRSXODU KLJK WUDIĂ€F VWULS PDOO Building Size: 2,758 sq.ft. Possession: Immediate Sale Price: $300,000 Contact: Beth Barber

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101 Main Street, Rosetown, SK Land Size: 11,700 sq.ft. Building Size: 5,809 sq.ft. Tenant pays $7,400/month gross Sale Price: $595,000 Contact: Brandon Ha or Josh Walchuk

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Bike shop wheels into the Rockies

A

fter 50 years of serving outdoor enthusiasts on the flat prairie, Gord’s Ski and Bike is expanding to the mountains. After all, according to JF Ravenelle, its president and general manager, that’s where the bulk of its equipment is actually used. “Many of our customers buy stuff from us in Winnipeg and go play with it elsewhere,� he said. “Elsewhere,� in many cases, is the Rocky Mountains. So, Gord’s christened its third location, and first outside of Manitoba, in Banff last month. Ravenelle knows he will have a built-in clientele in the 2,100-square-foot store in the ski resort town, what with thousands of Manitobans who head to Sunshine, Lake Louise and Mount Norquay for their skiing and snowboarding fixes every year. He’s optimistic many non-Manitobans will patronize the location, too. The opening marks a remarkable turnaround for the business, which filed for bankruptcy protection under its previous owners in the fall of 2008. Ravenelle and a group of employees and customers bought the company out of receivership and re-opened it shortly after. Joining him as a partner in the new venture is Stephen Strachan, who runs the Hardwear Company in Kenora, Ont. He will bring his expertise in paddle sports, such as kayaking and canoeing, to the Banff store.

Westoba expands to Winnipeg

A

fter nearly a half-century of building up its business in and around Brandon, Westoba Credit Union is ready for Winnipeg.

The sixth-largest credit union in the province is preparing to cut the ribbon on a new 4,200-square-foot branch on Portage Avenue and another one in a renovated Red Lobster restaurant on Pembina Highway. Don Cataford, Westoba’s vice-president of business development for Winnipeg and the surrounding area, said the offspring of many of its mostly rural client base are increasingly moving to the big city but still want to maintain ties to their home financial institution. Westoba just opened another branch in Onanole near Clear Lake, too. Cataford said the move was in response to a growing number of its members in the area north of Brandon who asked for a branch. “It’s a very dynamic area. It’s very populated from spring through to fall,� he said. Although the vast majority of Winnipeggers associated Westoba with the western part of Manitoba, it staked out a beachhead in the capital in 2008 with a commercial centre. Its business was primarily in residential mortgages and with industrial warehouses, motels and strip malls. “We have quite a large piece of business in Winnipeg, between $140 million and $150 million. We look at this as expanding our presence in Winnipeg,� he said.

Popular eatery faces eviction

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anitoba is poised to set an all-time annual record for building-permit values after non-residential construction permits soared 64 per cent in 2011, according to Statistics Canada. By November of last year the province posted the highest year-over-year increase in permit values in Canada. The pace is being led, however, by government projects, StatsCan notes, which New terminal at Richardson International marked a triple-digit increase in permit Airport among the top government projvalues through the first 11 months of last ects in Manitoba. year. Manitoba municipalities issued $214 million worth of residential and non-residential permits during November. That was a 46.1 per cent improvement over Novem ber 2010’s total of $146.5 million, and up 17.4 per cent over October 2011’s $182.3 million. It was also the fourth consecutive month of rising permit values for the province, and it boosted the permit total for the first 11 months of 2011 to just over $1.73 billion, only $20 million below the record of $1.75 billion set in 2010. Non-residential values jumped 23.5 per cent from October to November and 63.9 per cent from November of 2010. Residential-permit values were up 12.3 per cent from October to November and 32.9 per cent year-over-year. On the non-residential side, a 486 per cent jump in permit values for institutional projects was partially offset by an 87.5 per cent drop for industrial projects and essentially no change in commercial-permit values. Photo: James Armstrong Richardson Intl.

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location will be expensive and she’s unsure whether she can afford to keep the lunch counter running. innipeg’s new sports and entertain“I’m still undecided. Do I continue or do I ment district (SHED) may be about to begin construction on more than $600 mil- just quit? I know [potential sites] out there are expensive. It’s very hard to afford tomove lion worth of development, but one longsomewhere else. I’ve been shopping around time institution may not be joining in the but I haven’t found anything yet,� she said. renaissance. “It’s a possibility that we could shut down.� The Wagon Wheel Lunch restaurant, one Such news would undoubtedly set off a of the city’s best-known eateries, particular lengthy mourning period in Winnipeg, where among CFL football players, who have been the Wagon Wheel clubhouse is a big a piece of known to pull up in the team bus before the city’s culinary history. checking into their hotel so they can enjoy Ross McGowan, president and CEO of its trademark clubhouse sandwich, has been CentreVenture, the downtown Winnipeg told it has to vacate the Norlyn Building by March. Its home since 1958 will be demolished development agency spearheading the SHED, said he’s doing everything he can to make soon after as part of the SHED project. sure the clubhouse survives, including lending Franny Gomez, who took over the Wagon a hand with the Wagon Wheel’s rent or move. Wheel last year after the death of longtime “We don’t want to see them harmed,� he said. owner Louis Mathez, said finding a new

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SASKATCHEWAN REAL ESTATE SOLUTIONS! Industrial Property For Lease 9,810 sq. ft. industrial space situated on 1.69 acre lot with excellent visibility from Ross Avenue. Steel frame building with showroom and work area. Warehouse contains four bay areas with 12’ & 14’ doors.

Pizza Pizza links with Jets

A

Toronto-based pizza chain thinks its sponsorship of the Winnipeg Jets will be a real game-changer. Pizza Pizza recently opened its fifth restaurant in Winnipeg but Pat Finelli, the company’s chief marketing officer, said he plans to open another 10 by the end of the year. In addition to concession sites within the MTS Centre, Pizza Pizza sponsors the “lucky row� in every Jets home game and delivers free pizza to fans in a random row. “Hopefully, people will remember that they had our pizza at the games and they’ll get it delivered to their houses,� he said.◆ – Compiled by Geoff Kirbyson

Opportunities in Manitoba’s Parkland Area UĂŠ,Ă•ĂƒĂƒiÂ?Â?ĂŠqĂŠĂ“Â™ĂŠĂ•Â˜ÂˆĂŒĂŠÂ“ÂœLˆÂ?iĂŠÂ…ÂœÂ“iĂŠÂŤ>Ă€ÂŽĂŠĂœÂˆĂŒÂ…ĂŠiĂ?ÂŤ>Â˜ĂƒÂˆÂœÂ˜ĂŠĂ€ÂœÂœÂ“ĂŠ>Ă›>ˆÂ?>LÂ?iĂŠĂŠ

$174,900

UĂŠĂŠ,Ă•ĂƒĂƒiÂ?Â?ĂŠ qĂŠ {nĂ?ĂˆĂŠ ĂƒÂ…ÂœÂŤĂŠ ĂœÂˆĂŒÂ…ĂŠ nääĂŠ ĂƒÂľĂŠ vĂŒĂŠ ÂœvwViĂŠ >Ă€i>ĂŠ >ĂŒĂŒ>VÂ…i`ĂŠ ÂœÂ˜ĂŠ £äĂŠ >VĂ€iĂƒĂŠ LÂœĂ€`iĂ€ÂˆÂ˜}ĂŠĂŠ ˆ}Â…Ăœ>ĂžĂŠÂŁĂˆĂŠĂŠ $460,000 UĂŠ,Ă•ĂƒĂƒiÂ?Â?ĂŠqĂŠĂ“nĂŠĂ?ĂŠnäĂŠLĂ•ÂˆÂ?`ˆ˜}ĂŠÂœÂ˜ĂŠ >ÂˆÂ˜ĂŠ-ĂŒĂ€iiĂŒĂŠqĂŠvÂœĂ€Â“iĂ€Â?ĂžĂŠĂ•Ăƒi`ĂŠvÂœĂ€ĂŠ>Ă•ĂŒÂœĂŠĂ€iÂŤ>ÂˆĂ€ĂŠĂŠ

$79,000

UĂŠĂŠ,ÂœLÂ?ÂˆÂ˜ĂŠ qĂŠ Ă“ä]äääĂŠ ĂƒÂľĂŠ vĂŒĂŠ Ăœ>Ă€iÂ…ÂœĂ•ĂƒiĂŠ vÂœĂ€ĂŠ Ăƒ>Â?iĂŠ ÂœĂ€ĂŠ Â?i>ĂƒiĂŠ Â?ÂœV>ĂŒi`ĂŠ ÂˆÂ˜ĂŠ ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ĂŠ *>ÀŽÊ >Â?œ˜}ĂŠĂŠ ˆ}Â…Ăœ>ÞÊxĂŠĂŠ $790,000

For further information contact:

ART INGLEBY AINGLEBY AY SK COM s (306) 359-9799 See these properties and more on our website! www.avisonyoung.com MOTEL: NEW, 90 ROOM MOTEL, FLAG, TRANS CANADA HIGHWAY. .........................................................................................................................................PRICE 7.9 MILLION

UĂŠĂŠ ˜}Â?ÂˆĂƒĂŠ qĂŠ Ă€>˜`ĂŠ ˜iĂœĂŠ œ˜`ÂœÂ“ÂˆÂ˜ÂˆĂ•Â“ĂŠ iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒĂŠ >Â?œ˜}ĂŠ >ÂŽiĂŠ ÂœvĂŠ ĂŒÂ…iĂŠ *Ă€>ÂˆĂ€ÂˆiĂƒĂŠĂŠ ĂŠ Call for details

>Â?Â?ĂŠ ÂœĂ•}ĂŠ/Ă•Ă€Â˜LĂ•Â?Â?ĂŠĂ“ä{Â‡Ă‡Ă‡ĂŽÂ‡ĂˆĂ“ĂŽĂ‡ĂŠ ˜`Ă€iĂœĂŠ }i˜VˆiĂƒĂŠwww.westparkgroup.com

Manitoba Magnificence

APARTMENT: 69 SUITES ONE AND TWO BEDROOM, ALL BUNGALOW STYLE, WITH INDOOR GARAGES, 55 PLUS CLIENTELE. .......................................................................................................................................PRICE: 6.8 MILLION MOTEL: 14 ROOMS , LIVING QUARTERS, SALES $200,000. PLUS. .........................................................................................................................................PRICE $459,000.00 HOTEL: 45 MINUTES TO WINNIPEG, SALES 300,000 PLUS. .......................................................................................................................................PRICE $329,000.00

Century-21 Westman.com Brandon, MB

Direct Line: 204-729-5074

Email:

mmelnyk@mts.net

2086 acres of deeded land east of Dauphin, near Ste. Rose. Great mixed farm with about 980 ready to crop. Balance in hay & pasture. 2 - 1/4’s leased land also available. Good home, sheds, bins & superb cattle facilities.

Westman.com

North of Dauphin, cattle ranch with 1071 deeded & 2911 acres Crown lease. About 700 arable acres seeded to hay. Good fences, water & cattle facilities. Modern home & available now! Will carry 300 pair & more land available.

Please call:

204-761-6884

GRANT TWEED

grant@granttweed.com www.granttweed.com

B26

www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

SPOTLIGHT Dauphin dangles cash incentive to battle housing shortage as rental vacancy drops to zero

QFS OFX EPPS GEOFF KIRBYSON

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5

Photo: City of Dauphin

WESTERN INVESTOR he mayor of Dauphin isn’t going to sit idly by with an endangered species in his midst.

OK, so no animals are about to become extinct near the western Manitoba town but finding a place to live within its boundaries is virtually impossible. That won’t be the case for long, however, if Eric Irwin has anything to say about it. Irwin and city council have come up with a housing plan that provides a $1,000-per-door subsidy for builders of apartments or houses. It has also submitted proposals with the provincial government for financial aid to construct low-income and seniors’ housing. “If there’s a program out there, we try to get something in for it,” he said. “We’re pretty much tapped out for housing around here.” The average house in Dauphin is a 1,050square-foot three-bedroom bungalow with a garage that sells for $145,000. That’s up between 5 and 8 per cent from a year ago, according to Chris Carefoot, the

Dauphin hosts the provincial curling championships this month.

broker/owner of Re/Max of Dauphin. She said the price hike has been driven by zero vacancy, a shortage of new house construction and a stable local economy. She said she expects the housing demand will remain strong as none of the mitigating factors are showing any signs of reversing any time soon. “Once people get here they love it,” she said. “We’re one of the few communities that has that French immersion, Ukrainian immersion and English. Both the French and Ukrainian programs have their own schools.” Indeed, more than one-quarter of Dauphin’s 8,000 residents can speak Ukrainian. You’d think the strong housing demand

Population 8,000 Trading area 20,000 Average house price $145,000 Major employers Dauphin Regional Health Centre, Norwex Enviro Products Potential Retail growth, regional services Web page www.dauphin.ca

would be a sure sign that Dauphin’s population was going through the roof, but that’s not the case, Irwin said. “There are fewer people per house these days. People don’t have six kids anymore,” he said. There are another 2,500 people in the nearby municipality, while Dauphin services an area of nearly 10 times that many. There is no shortage of amenities. There’s a regional hospital, which has proven adept at attracting doctors from far and wide, all five major banks are represented and the RCMP has a detachment with 40 officers. For those who want to be active, there’s an indoor track around the Credit Union Place

arena and a pair of golf courses on either side of town. As well, the town is planning an $800,000 upgrade to Vermillion Park, a popular camping destination, including a new splash park. Plans are also in the works to start construction on a skateboard park this summer, a jointly funded project with the province. The biggest attraction is unquestionably Dauphin’s Countryfest, Canada’s longestrunning country music festival. Every July long weekend it attracts 14,000 people, who generate an economic impact of $9.8 million for the region. “It’s much larger than most city-based events. It has a huge impact,” Irwin said. A further influx of tourists – and their wallets – is expected when Dauphin hosts the provincial curling championships in February. Countryfest donated $400,000 a couple of years ago to help build a new four-screen movie multiplex after the old “one-horse” movie theatre burned down. The new $5 million facility opened up last year. “When movies open in Toronto or Winnipeg, they open in Dauphin the same day.” Irwin said. The mayor is confident that Dauphin will increasingly be seen as a place to live, work and play by people of all ages. “If we can make sure the amenities that people expect are here, they will come.”◆

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DONE DEALS editorial feature will highlight deal flow in Western Canada. - ÜÊÌ iÊ >À iÌÊÜ >ÌÊ ÃÊ Û }Ê> `ÊÜ Ê ÃÊ Û }Ê Ì°Ê/ iÊ Ì ÞÊ Ài« ÀÌÊÜ Ê } } ÌÊ > ÀÊ­L>à V> ÞÊxä ÊõÕ>ÀiÊviiÌÊ ÀÊ ÀiÆÊ ÀÊ > `Ê `i> ÃÊ vÊfÓÊ Ê ÀÊ Ài®ÊV iÀV > ÊÀi> ÊiÃÌ>ÌiÊÌÀ> Ã>VÌ ÃÊÌ >ÌÊ >ÛiÊV Ãi`ÊÜ Ì ÊÌ iÊ >ÃÌÊÎä {xÊ`>ÞÃÊ Ê7iÃÌiÀ Ê > >`>°

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Gordon Beattie, President (604) 583-2919 local 222 abc Country Restaurants Inc. 15373 Fraser Hwy. Surrey, BC V3R 3P3 email: info@abcCountry.ca www.abcCountry.ca

Please forward this information directly to

Frank O’Brien,

Western Investor Editor at

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FRANK O'BRIEN Editor

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Franchises B27

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com

News, views and updates on Canada’s franchise industry

Clancy’s Meat Co. opens in Ontario

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ritish Columbia-based Clancy’s Meat Co. is entering the Ontario market with its first store in London. The new store is owned by London native Mark A Edmudndson, a former professional hockey – player and financial adviser. Clancy’s Meat offers a wide range of highquality fresh and frozen meats and prepared f meals. “We have fresh foods that distinguish us from some competitors and single servings if you don’t want the big boxes,� Edmundson told the London Free Press. Since its founding in 1997, Clancy’s Meat , Co. has grown to eight locations in B.C. and two in Alberta. Brian Davy, one of M&M Meat Shops’ first franchisees, leads its expansion into Ontario. Davy was named Clancy’s vice-president of franchise development in March 2011, in charge of franchisee recruitment and site selection for all new stores in Ontario. The Surrey company prides itself on using only the freshest ingredients across its menu – including local B.C. produce, selected organic meat products and certified Angus beef. A Clancy’s turnkey franchise costs from $372,000 to $410,000 and takes between six to 12 months from application to opening.

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ye-catching work wear has helped a home improvement franchise capture a solid market share and an expansion into Vancouver Island this month, with Alberta on the radar. Vancouver-based Men In Kilts, a full-service window and exterior cleaning franchise, prides itself in high-quality work with a tongue-incheek attitude. All the employees wear – you guessed it – Scottish kilts. Usually only seen on men playing bagpipes or the occasional Men In Kilts has proven to be an eyeHalloween party, these workers can be ogled catching franchise brand. climbing ladders to get at the gutters, windows and sidings of residential and corporate buildings. The theory behind the head-tilting kilt? The kilt is memorable, recognizable, worn by the employees and is sure to get a few stares from females and anyone else passing by a worksite. According to CEO and franchising professional Tressa Wood (credited with helping propel 1-800-GOT-JUNK? from growing from $15 million to more than $130 million in revenue), it is this differential approach that is garnering Men In Kilts such phenomenal interest in the brand and the business model. “Nowadays, we are so inundated with marketing and advertising that in order get our attention it is critical to be bold and think outside the box,� said Wood. “Having an eyecatching brand takes the complexity out of marketing and generates organic interest and excitement.� The franchises are currently in a phase of hyper-growth, with their focus on the western territories. Men In Kilts currently operates with a Vancouver franchise, a Fraser Valley franchise, one in Seattle and one set to open in Victoria this month (February). Prime targets for further expansion include Calgary, Edmonton and Portland, Oregon. The initial investment to start a Men In Kilts franchise can begin at $49,000 and goes up to $104, 000 depending on the territory and needs. Men In Kilts provides full training, marketing and PR, customer support and access to KiltNet – a custom-developed web-based scheduling, dispatching, crew tracking and reporting system.

Together with corporate chef Don Letendre the team at Wok Box continues to develop its seasonal menu at the company’s test kitchen in Surrey, B.C., in order to bring combinations of Asian dishes to customers. In Canada, Wok Box is the only Asian quick-service restaurant whose menu includes items that meet the nutrient criteria for the Heart and Stroke Foundation’s Health Check program, Letendre said. Wok Box has been tremendously successful in expanding the franchise across the country. Founded in 2004, Wok Box recently opened its 65th store in Canada. Its operations centre and head office are now located in Surrey. “The strong track record we’ve established in Canada has given us the catalyst we needed to start opening stores in select U.S. markets,� said Lawrence Eade, Wok Box CFO. “This is just the beginning of what we’re expecting to be a rapid expansion into international markets.� Under a franchise recruitment program developed with Franchise Development Northwest, Wok Box is scheduled to open locations in Oregon, Washington state, Texas and Colorado, with other outlets planned. The cost for a Wok Box franchise requires a total investment of from $350,000 to $425,000, including an initial franchise fee of $25,000. There is a 6 per cent royalty fee and McDonald’s, which had held the title a 3 per cent advertising fee. of world’s largest chain since the early 1970s, remains the sales leader, reporting $24 billion in revenue last year. Subway reported $15.2 billion in revenue in 2010. According to the Wall Street Journal, Subway actually surpassed the number of McDonald’s in the U.S. about nine years ubway Restaurants opened more than ago. The sandwich chain expects China to eventually become one of its largest 2,100 locations in 2011, adding a total markets. It has 199 restaurants in China of 21,000 jobs globally. With more than now, but expects to have more than 500 35,800 franchised locations, Subway has now become the world’s largest restaurant by 2015. Subway’s 2011 openings included 1,000 chain in terms of number of locations.

Wok Box starts Subway locks serving the States lead in fast food

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he Edmonton-founded Wok Box franchise is expanding into the United States with the signing of its first franchise agreements in Arizona and Oregon. Its new Asian quick-service stores will open in the first quarter of 2012.

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Photo: Men In Kilts

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new locations in the U.S. and Canada alone. A big part of the chain’s growth came from nontraditional spaces such as convenience stores, department stores, train stations, museums, hotel lobbies and movie theaters. This year marked the company’s 8,000th nontraditional opening. Subway now operates in 98 countries. The total investment required for a Subway franchise ranges from $83,000 to around $260,000, including a $15,000 initial franchise fee for a 20-year agreement. There is also a royalty fee of 8 per cent.◆ – Compiled by Kevan O’Brien

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FRANCHISE WITH EXPERIENCE

A franchise partnership with DQÂŽ, a Berkshire Hathaway Company, enables you to enjoy the benefits of a well-established family of concepts such as: UĂŠĂˆä³ĂŠĂži>Ă€ĂƒĂŠÂœvĂŠvĂ€>˜VÂ…ÂˆĂƒÂˆÂ˜}ĂŠiĂ?ÂŤiĂ€Âˆi˜Vi UĂŠ-ĂŒĂ€ÂœÂ˜}ĂŠLĂ€>˜`ĂŠĂ€iVÂœ}Â˜ÂˆĂŒÂˆÂœÂ˜ UĂŠ-Ă•LĂƒĂŒ>Â˜ĂŒÂˆ>Â?ĂŠÂŤĂ•Ă€VÂ…>ĂƒÂˆÂ˜}ĂŠĂƒĂŒĂ€i˜}ĂŒÂ…ĂŠ>˜`ĂŠ>`Ă›iĂ€ĂŒÂˆĂƒÂˆÂ˜}ĂŠÂŤÂœĂœiĂ€ UĂŠ Ă?ViÂŤĂŒÂˆÂœÂ˜>Â?ĂŠvĂ€>˜VÂ…ÂˆĂƒiĂŠĂƒĂ•ÂŤÂŤÂœĂ€ĂŒĂŠĂƒiĂ€Ă›ÂˆViĂƒ Our Vision for the Future “We will be the franchise food system of choice!â€?

Phone:

CONNIE WOLBAUM

CHRIS FALLE

FRANCHISE DEVELOPMENT MANAGER AB/SK

DIRECTOR OF FRANCHISE DEVELOPMENT BC/MB

306-949-7889

Email:

connie.wolbaum@idq.com

Phone:

(604) 952-0202

www.dairyqueen.com

Email:

chris.falle@idq.com

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marketing your franchise? Call Christine at the

CONTACT ROBERT SKINNER:

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

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www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

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