Western Investor March 2012 Section A

Page 1

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

SELF-STORAGE FACILITIES – FOR SALE Vernon, BC

Penticton, BC

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

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

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

KEN KIERS OR KEN HICK

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

* Personal Real Estate Corp.

MERRITT, BC OPPORTUNITIES

COURT ORDERED SALE COQUITLAM s 3TRATA 2ETAIL /FlCE s SF UNITS s STALL PARKING s FT SIGN BARGAIN PRICED $699,000 / FRONTAGE s &OR LEASE TNET $154 PSF

REDUCED $500K. PRICED TO SELL!

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

HALF ACRE C-3 SERVICE COMMERCIAL LOT s Close to Wal-Mart. Only $199K

MULTI-TENANT COMMERCIAL BURNABY s SF RENTABLE s FENCED PARKING LOT s SF C LOT s EXCELLENT CONDITION s PRO FORMA CAP

SPLIT ZONING 11.4 ACRES DEV. LAND ADJACENT TO WAL-MART & HWY 5 s )DEAL FOR HOME IMPROVEMENT STORE SHOPPING CENTRE MOTEL 26 0ARK 3TORAGE s .OW ONLY $3.49 Mil K AC

ASKING $2,350,000 /$175 PSF

DON ELLIS, RI

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

3 LIGHT INDUSTRIAL LOTS s ACRES EACH Amazing price $69,900 ea.

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

604-691-6668 donellis@naicommercial.ca

FOR SALE – RV SITE WITH BUSINESS

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

INDUSTRIAL FREE STANDING BLDG. FOR SALE / FOR LEASE LANGLEY

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

VANCOUVER • LOWER MAINLAND • VANCOUVER ISLAND SECTION

$4.29 MARCH 2012 Vol. 27/Issue 3

19 REMAKING B.C.’S CAPITAL

Developers leap into Island’s biggest project

â–˛

s Reduced $3,250,000 s Asking $2,850,000 WE ARE YOUR SELF-STORAGE EXPERTS

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

Adam Gant (L) and Emanuel Arruda of League Financial celebrate start of $1 billion mixed-use project in Colwood

8 “RUNNING OUT OF LAND�

Industrial shortage may force density “rethink� 16 INVESTING WITH FRIENDS AND FAMILY?

Legal contracts - not love - will decide a joint venture’s success SPECIAL SECTION • B16

LIFESTYLE PROPERTIES

200th Street

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

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

s s s s s s s

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

DON MACDONALD, CCIM

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

Subject Property

Highway #1 Interchange

s 0RIME CORNER SOUTH OF (IGHWAY ON TH 3TREET s &UTURE INVESTMENT OPPORTUNITY IN AN ACTIVE DEVELOPMENT AREA s !DJACENT PARCELS AVAILABLE UP TO 8 ACRES

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

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

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

WASHINGTON INVESTORS ALERT!

s -T 6ERNON n LOT SUBDIVISION JUST RECORDED CLOSE TO TOWN s 'REAT LOCATION n SF LOTS n AFFORDABLE YET UPSCALE 3MOKEY 0OINT s "IG BOX DEVELOPMENT OPPORTUNITY s ACRES SERVICES ARE IN PAD READY PSF s #OSTCO 7ALMART 4ARGET NEARBY

#ALL -IKE &OR mYER SEE WWW COPACREALESTATE COM

A2 Lower Mainland

www.westerninvestor.com MARCH 2012WESTERN INVESTOR

CANADA`S BEST VALUE WESTWARD INN

JAMESON HOUSE AAA OFFICE SPACE FOR SALE

t $FOUSBMMZ MPDBUFE TG PGmDF CVJMEJOH t 4USVDUVSBM TUFFM GSBNF XJUI SFJOGPSDFE DPODSFUF CMPDL DPOTUSVDUJPO t VOEFSHSPVOE QBSLJOH TUBMMT t 1SJDF

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ROGER LEGGATT MAX ZESSEL

DON DUNCAN*

MARK TREPP BOE IRAVANI

RICK EASTMAN* KEVIN VOLZ

FREESTANDING OFFICE BUILDING FOR SALE

FOR SALE - 61 ROOM HOTEL WITH RESTAURANT

STRATA UNITS FOR SALE HARBOURSIDE LANDING

YALETOWN QUALITY OFFICES 10.18 ACRE INDUSTRIAL SITE FOR SALE OR LEASE TILBURY BUSINESS PARK PLUS WAREHOUSE IN DOWNTOWN/COAL HARBOUR PORT COQUITLAM STRATA UNIT

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RANDY SWANT* LEE G HESTER*

t TG %PXOUPXO 7BODPVWFS t 'VMMZ mYUVSFE XJUI IJHI DFJMJOHT t 4BMF 1SJDF t -FBTF 3BUF QTG QTG 0Q 5BYFT

PHILIP CHENG

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

SOLD t 2VBMJUZ *OO .BQMF 3JEHF t /FXMZ SFOPWBUFE t ZFBS MFBTF XJUI UIF 1BOUSZ 3FTUBVSBOU t "TLJOH

CHRIS DRIVER*/ BRETT AURA DON DUNCAN*

LAZY WHEEL MOBILE HOME PARK

t 2VJFU BOE DFOUSBM 1PSU "MCFSOJ MPDBUJPO t &YUSB MBOE GPS GVUVSF QBSL FYQBOTJPO t $MFBO JOWFTUNFOU PQQPSUVOJUZ t "TLJOH 1SJDF

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DAVID CANNING BRAD NEWMAN-BENNETT

YUKON & WEST 8TH AVENUE RETAIL t $PSOFS TUSBUB VOJU t 5ISFF EFEJDBUFE QBSLJOH TUBMMT t "TLJOH

DON DUNCAN* CHRIS DRIVER*

TYLER PRIDHAM

FOR SALE - NANAIMO LONG LAKE PLAZA

DEVELOPMENT OPPORTUNITY WITH INCOME

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MARK GALLAGHER

BURTON VAN ALSTINE* ROBERT STOKES

BILL RANDALL*

BURTON VAN ALSTINE* HUDGE PARMAR*

LANDMARK WHISTLER INVESTMENT OPPORTUNITY GARFINKELS NIGHT CLUB

MULTIFAMILY DEVELOPMENT SITE

FOR SALE - POTENTIAL INDUSTRIAL DEVELOPMENT SITE

FOR SALE - MULTIFAMILY DEVELOPMENT SITE COURTENAY

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NIC GREEN/PHIL HEARN

SMALL FREESTANDING INDUSTRIAL BUILDING METROTOWN

t #BJMFZ 4USFFU 4RVBNJTI t VOJU PQQPSUVOJUZ t "DUJWF EFWFMPQNFOU QFSNJU

BILL RANDALL* NOAH FREEDMAN

t BDSFT t /PU MPDBUFE JO UIF "-3 t -PDBUFE JO 4PVUI 3JDINPOE T *SPOXPPE *OEVTUSJBM 1BSL t "TLJOH 1SJDF

RON EMERSON

t BDSFT 3JWFSGSPOU t '43 1MBOT BWBJMBCMF t "TLJOH

ADAM FRIZZELL

WOOD LAKE DEVELOPMENT SITE

BURNABY MOTEL/ DEVELOPMENT SITE

NANAIMO DEVELOPMENT SITE

t 8PPE -BLF %FWFMPQNFOU 4JUF t %JTUSJDU PG -BLF $PVOUSZ #$ t BDSFT QMVT BDSF 8BUFS -PU -FBTF t "TLJOH

t -PDBUFE BU #PVOEBSZ 3PBE (SBOEWJFX )JHIXBZ t SPPN NPUFM PO TG MPU t %FTJHOBUFE $ 3. GPS GPVS TUPSFZ NJYFE VTF t "TLJOH

t BDSF 3 [POFE TJUF VOJUT

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t $VSSBHI "WFOVF t TG PO B TG MPU t %SJWF UISV MPBEJOH QBWFE GFODFE TJEF ZBSE t 4BMF 1SJDF

PETER GIBSON

BILL RANDALL*

RICK EASTMAN*

MARK GALLAGHER HUDGE PARMAR*

BRETT AURA

BRETT AURA

FOR SALE - CLOVERDALE MEDICAL BUILDING

86.85 ACRE DEVELOPMENT SITE NOT IN ALR

FOR SALE - 32860 MISSION WAY, MISSION

FOR SALE - FULLY LEASED FREESTANDING OFFICE BUILDING

DEVELOPMENT SITE MULTIFAMILY

INN ON THE WATER, SQUAMISH

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BRAD NEWMAN-BENNETT SCOTT MACPHERSON

HUDGE PARMAR* MARK GALLAGHER

BILL RANDALL*

MAX ZESSEL ROGER LEGGATT

LANGLEY DEVELOPMENT SITE

FOR SALE - HARRISON HOT SPRINGS

FOR SALE - WILLOW CALE ROAD, PRINCE GEORGE

FOR SALE - HARRISON HIGHLANDS, KENT

FOR SALE - 65.53 ACRES CHETWYND

TOWNHOUSE DEVELOPMENT SITE

t TG PG JOEVTUSJBM CVJMEJOHT PO BDSFT t (SBEF BOE EPDL MFWFM MPBEJOH t -PUT PG ZBSE t "TLJOH

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t TG Y TJUF JO 1PSU $PRVJUMBN t 1MBOT GPS MFWFM UPXOIPVTFT t -PDBUFE OFBS TDIPPMT QBSLT BOE USBOTJU t "TLJOH

BILL RANDALL*

BILL RANDALL*

BRETT AURA CRAIG BALLANTYNE

DAG MEYER

50% LEASED t -PDBUFE OFBS )JHIXBZ UI JOUFSDIBOHF t BDSF TJUF JO $BSWPMUI #VTJOFTT 1BSL t $PNNFSDJBM JOEVTUSJBM BOE IPUFM VTFT QFSNJUUFE t "TLJOH

MICHAEL HARDY BRETT AURA

t 3BSF XBUFSGSPOU EFWFMPQNFOU QSPQFSUZ XJUI HPSHFPVT MBLF NPVOUBJO WJFXT t 1SPQFSUZ IBT BDSFT BOE QSPQFSUZ IBT BDSFT t GFFU TBOEZ MBLF CFBDI BOE LJMPNFUFS PG XBUFS GSPOU t %FTJHOBUFE BT B EFWFMPQNFOU QFSNJU BSFB BOE JT /05 JO UIF "-3 t "TLJOH 1SJDF

BILL RANDALL*

Moving with confidence

BILL RANDALL*

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

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

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

BRETT AURA CRAIG BALLANTYNE

$0/5&/54 ."3$) 7"/$067&3 Â… -08&3 ."*/-"/% Â… 7"/$067&3 *4-"/% 4&$5*0/

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

FEATURES 19 0/ 5)& $07&3 #JHHFTU QSPKFDU PO UIF *TMBOE

On the cover Adam Gant and Emanuel Arruda of League Financial celebrate start of $1 billion Colwood Capital Centre project Photo: Deddeda Stemler

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

Billion-dollar Colwood centre development fires up

8

.FUSP 7BODPVWFS GFBST JOEVTUSJBM TIPSUBHF

Scarce land raises interest in higher-density buildings

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

10 4&37*$&4 18 4&" 50 4,: 46/4)*/& $0"45 3&(*0/

11 4LJ SFTPSUT TUBSF EPXO TMJQQFSZ TMPQF

Fears of oversupply, slow condo sales spook market Download a PDF of all our Regional Roundups online at www.westerninvestor.com

2–18 -08&3 ."*/-"/% 3&"- &45"5&

19–23 7"/$067&3 *4-"/% 3&"- &45"5&

COLUMNS

6 8&45&3/ 1&341&$5*7& 16 */7&45*/( #6:*/( 8*5) '3*&/%4 '".*-: 23 %0/& %&"-4

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

.03& 0110356/*5*&4 ™ … */5&3*03 # $ … "-#&35" … 05)&3 1307*/$&4 … '3"/$)*4&4 ™ 4&& 4&$5*0/ #

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

HIGH TRAFFIC RETAIL CENTER $3,395,000

Newer center, built in 2009, includes two completed structures and one development pad. Building 1 contains multiple suites totaling 10,438 square feet. Building 2 contains multiple suites totaling 4,984 square feet. Building 3 is a pad planned for a four story building consisting of 27 studio apartments. Located across from a community college and is on a corner lot. Priced to sell at $3,395,000.

For more information, call our office.

RON BENNETT COMMERCIAL REAL ESTATE Ron Bennett

SUTTON GROUP WEST COAST REALTY

(USN Ret.)

CALL

/ Owner - Broker

ACREAGES

LANGLEY 6842 202B Avenue & 6868 202B Ave s 0RIME 4OWNHOUSE $EVELOPMENT 3ITE s $ESIGNATED 50! WITH UNDERGROUND OR STRUCTURED PARKING s %XCELLENT 6IEW 0ROPERTY CLOSE TO ALL !MENITIES 27571 60th Avenue s &ULLY &ENCED !CRES s -OBILE 3MALL (OME AND ,ARGE "ARN s #LOSE TO 4RANS#ANADA (IGHWAY AT THE TH 3TREET %XCHANGE

3837 240th Street s !CRES OF WHICH APPROXIMATELY IS IN TREES AND NATURAL SHRUB s SQ FT WHEELCHAIR ASSESSABLE HOME s HOME IS IN ORIGINAL CONDITION SO WILL NEED UPDATING s HOME IS REPORTED TO BE SOLIDLY BUILT WITH X AND X CONSTRUCTION s 25 :ONING

889 Lefeuvre Road s !CRES s -USHROOM &ARM s 3HOP #OMPOSTING &ACILITY s 'ROWING "ARN -ULTI 5SE "UILDING 27691 Downes Road s !CRES s 0OTENTIAL "ERRY ,AND s ,ARGE 3HOP "ARN 3TORAGE

✓ VALUE FOR $

604-817-7338

Don Munro

ACREAGES

48th Avenue & 216th Street Open to Offers s !CRES TWO PARCELS s 0OSSIBLE &UTURE 0OTENTIAL

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

256th Street & 48th Avenue s !CRES IN A 'REAT LOCATION s "EAUTIFUL CLEARED LEVEL BUILDING SITE s )MAGINE THE LUXURY OF PLANNING YOUR DREAM FROM SCRATCH VS COMPROMISED BY EXISTING DETAIL s :ONED 25 7437 253rd Street s !CRES s SQ FT BEDROOM HOME s UPDATED YEARS AGO s SEPTIC lELD RE DONE YEARS AGO s SEVERAL PADDOCKS AND SHELTERS AND A HOG FUEL RING s X COVERALL BUILDING s X SHOP WITH VOLT POWER s X BARN WITH STALLS AND TACK ROOM 7455 253rd Street s !CRES s SQ FT BEDROOM ONE STOREY WITH PARTIAL BASEMENT HOME s RENOVATIONS YEARS AGO s SQ FT SHOP WITH LOFT AND TWO SINGLE CAR GARAGE DOORS s SECOND DWELLING IS A SPLIT LEVEL BEDROOM HOME WITH SQ FT UPPER mOOR AND SQ FT BASEMENT 7700 240th Street Open to Offers s 2ECENTLY 2EMODELLED s !CRE PANHANDLED SHAPED LOT s ,ARGE SQ FT BEDROOM RANCHER s SQ FT "EDROOM "ASEMENT 3UITE s JETTED TUBS UPSTAIRS DOWNSTAIRS

✓ GOOD RETURN

botsold@intergate.ca

ACREAGES

COMMERCIAL/INDUSTRIAL

CHILLIWACK

SURREY/LANGLEY BORDER

51140 Ruddock Road .OW s !CRES s 0OTENTIAL FOR ,OTS s 02)#% $2!34)#!,,9 2%$5#%$

1 & 2 - 5492 Production Blvd EACH s SQ FT EACH s AMP PHASE PANEL IN EACH UNIT s OFlCE FRONT WITH UV lLTERED GLASS MEZZANINE WITH LARGE X WINDOWS LARGE SHOP AREA s LARGE OVERHEAD DOOR s FORCED AIR GAS FURNACE IN SHOP ELECTRIC HEAT IN OFlCE s WILLING TO SELL 5NITS TOGETHER OR WILL DIVIDE

7640 Nixon Road "RING ALL /FFERS s !CRES W LOG HOME LARGE SHOP s PRIVATE LOCATION 700 Columbia Valley Road s !CRES s 0RIME &ARM ,AND s "UILD YOUR DREAM HOME HERE

LANGLEY

COMMERCIAL/INDUSTRIAL WHITE ROCK 1328 Johnston Road Open to offers s SQ FT COMMERCIAL BUILDING s SQ FT LOT s :ONED #3 n 3ERVICE #OMMERCIAL :ONE

CHILLIWACK

SURREY 11151 Bolivar St & 13340 112 Ave s !CRES ON CORNER s :ONED #() (IGHWAY #OMMERCIAL 19518 32nd Avenue s !CRES IN #AMPBELL (EIGHTS s $ESIGNATED "USINESS /FlCE 0ARK

✓ TENANT COVENANT

203-20771 Langley Bypass s SQ FT COMMERCIAL STRATA s &ULLY LEASED s %XCELLENT )NVESTMENT 0ROPERTY

8495 Aitken Rd, 8565 Aitken Rd & 8579 Aitken Rd EACH s ACRE )NDUSTRIAL 6ACANT ,OTS s :ONED - 3ERVICE )NDUSTRIAL s 0ERFECT FOR SMALL BUSINESSES 8558 Chilliwack Mountain Road s ACRE 6ACANT )NDUSTRIAL ,OT s :ONED - 'ENERAL )NDUSTRIAL - (EAVY )NDUSTRIAL s ,EVEL LOT WITH A COMPACTED GRAVEL BASE s 'REAT ,OCATION 'REAT 0RICE

✓ UPSIDE

✓ CAREFREE

A4 Lower Mainland

www.westerninvestor.com MARCH 2012WESTERN INVESTOR

Macdonald Commercial Real Estate Services Ltd.

FOR LEASE Retail & Office Approximately 1,550 - 1900sf from $24/sf NNN Marine Drive, North Vancouver

FOR SALE | BOB SCRAGG | 604.290.2906 FOR SALE: INDUSTRIAL STRATA UNITS

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

3075 Willow, Vancouver

•

INDUSTRIAL STRATA UNITS, SURREY:

•

OFFICE BUILDING, BURNABY:

604-889-4551

•

•

Union Development (Canada) Group Inc.

•

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

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

• •

&/2 3!,% s &/2 3!,% s &/2 3!,% s &/2 3!,% s &/2 3!,% s &/2 3!,%

•

~3.2 Acres ~M-7 Industrial Zoning ~Phase 1&2 environmental Studies Available ~Also has residence on property STORAGE

• •

•

8369 RIVER WAY, VANCOUVER:

•

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

• •

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

FOR SALE: FREESTANDING BUILDING

• 27256 FRASER HWY, ALDERGROVE: • Central commercial frontage in town

centre on main street.

• Building 6,500 sq ft/ Lot 66’X120’ • Can be re-con figured into 3units (2,000 SF)

all w/ street frontage.

• Mixed use redevelopment potential • List Price: $750,000

for 500+ Vehicles at back

QUONSET HUT 56’ x 80’ w/ 36’ x 60’ MEZZANINE for parts storage

•

FOR SALE: WAREHOUSE/SHOWROOM/OFFICE

Auto Salvage & Metal Recycling LANGLEY BC

•

FOR SALE: 102 ACRES PRINCE GEORGE Designated - Residential & Commercial Services available • Super investment • Gravel opportunity while holding • $3,000,000 •

MAIN BUILDING

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40’ x 90’ Parts Counter, Lunchroom, Disassembly Bay

BOB SCRAGG 604.290.2906 | bscragg@macrealty.com RARE GOLF COURSE OPPORTUNITY FOR SALE | ERIC POON & KELVIN LUK

SHARE SALE INCLUDES LAND, BUILDING, INVENTORY, CLIENT BASE AND BUSINESS

$6,500,000 For more information contact:

GARTH OLSON Re/Max Treeland Realty 604-533-3491 realestate@garth-olson.com s www.garth-olson.com

ERIC POON / KELVIN LUK | 604.736.5611 FOR SALE: KITSILANO INVESTMENT | ERIC POON • 2 commercial units & 2 residential units / 3,342 sq. ft./ C-2 zoned site

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

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

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81,260 sq.ft. R&D

ERIC POON | 604.736.5611

List Price: $1.7M

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

20 Acres designated Business Park. Excellent access/egress to and from all parts of Metro Vancouver & close to amenities. / List Price: $10,880,000

CHRIS MIDMORE/ BRIAN BARBER/ MATT NUGENT | 604.736.5611 COURT ORDERED SALES | BRIAN TATTRIE & GARY KHAN • •

1521 WEST 4TH AVE

BUILDING AT UBC

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

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

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

FOR SALE

Larry Traverence 604-787-7654 FOR LEASE 725 Eaton Way

1028 HAMILTON STREET

Approx 9,200 sq ft warehouse with approx 3,800 sq ft office space. Attractive rates.

Asking $16,999,000

Larry or Kris 604-689-8226

LD 4 storeyS plusO basement. 30,000 sq ft

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

2 retail strata units, Langley: $499,000 REDUCED: $349,000 Office Building, New Westminster List Price: $1,200,000 SOLD

BRIAN TATTRIE - 604.714.4783 | GARY KHAN - 604.714.4799 FOR SALE: KELOWNA GOLF RANGE - Land, building & business | GARY KHAN • •

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

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

59 lot subdivision / Little Mountain Chilliwack List Price: $4.25M PRICE REDUCED GARY KHAN | 604.714.4799

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

Licence “parked” in Yaletown until new location available

Price: $750,000

JOHN SULLIVAN | jsullivan@macrealty.com FOR SALE: GASTOWN NIGHT CLUB | JOHN SULLIVAN •

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

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List Price: $750,000

Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.

JOHN SULLIVAN |604.714.4773

Vancouver 604.736.5611 Fraser Valley 604.590.4444 commercial@macrealty.com

www.macdonaldcommercial.com

Lower Mainland A5

WESTERN INVESTOR MARCH 2012 www.westerninvestor.com

APARTMENT BUILDING SPECIALIST WEST SIDE

NEW WESTMINSTER

CLOVERDALE

8 Units/Cambie Corridor Completely Renovated Gross Income $122,892

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

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

NEW WESTMINSTER

PORT ALBERNI

EAST VANCOUVER 11 Units – fully tenanted Close to all amenities Gross Income $113,967

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

43 Units/2 Buildings Close to amenities Gross Income $228,259

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

604.263.2823

RETAIL SALE/LEASE

LOT FOR SALE

STRATA OFFICE SALE/LEASE

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

1250 Frances Street, Vancouver 5,248 sq ft freestanding office/ warehouse building 3FDFOUMZ SFOPWBUFE t ;POFE * Owner/occupier opportunity

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

Tom Bakker, James Bayley

Ryan Saunders, Mitch Ellis

James Bayley, Meghan Kennedy

James Bayley, Tom Bakker, Meghan Kennedy

INDUSTRIAL SALE

INDUSTRIAL SALE/LEASE

INDUSTRIAL SALE

INDUSTRIAL SALE/LEASE

INVESTMENT OPPORTUNITY

4040 Graveley Street, Burnaby 6,600 sq ft on two lots totalling 13,200 Quality showroom/office space Dock and grade loading Near SkyTrain

101 - 8988 Fraserton Court, Burnaby 2,126 sq ft flex strata unit Modern tilt-up construction Rear grade level loading Signage opportunity

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

1301 Ketch Court, Coquitlam Two 2,550 sq ft units, 5,100 sq ft total 2VBMJUZ EFWFMPQNFOU t (SBEF EPPST Ample yard area Asking $965,000 or $7.50 per sq ft lease

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

Steve Caldwell

Phil Gibbons, Steve Caldwell

Steve Caldwell, Phil Gibbons

Steve Caldwell, Phil Gibbons

Anthony Lux, Casey Bell

INDUSTRIAL SALE

INDUSTRIAL SALE/LEASE

STRATA UNIT FOR SALE

DEVELOPMENT SITE

INDUSTRIAL SALE

Pr ice

Pr ice

Re du ce d

FOR SALE Re du ce d

PRIME DEVELOPMENT SITE

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

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

NE W

LI ST IN G

Hume Ave

King

George Blvd

2231 Vauxhall Place, Richmond 13,638 sq ft freestanding building on 0.65 acres Concrete tilt-up construction 3 grade level loading doors )JHI DFJMJOHT t GMPPS PGGJDF CVJME PVU

4 - 11220 Voyageur Way, Richmond 4,900 sq ft unit 'MFYJCMF MBZPVU t )JHI PGGJDF CVJME PVU Immediate access to amenities and transit 3FBS TUPSBHF GBDJMJUZ t "NQMF QBSLJOH

21320 Westminster Hwy, Richmond 3,005 sq ft fully leased industrial strata unit (SBEF MPBEJOH t "TTJHOFE QBSLJOH Approximately 19’ clear ceiling height Lease expires February 28, 2015

13061 King George Boulevard, Surrey 5.34 acre site Residential/Industrial per OCP Between Scott Road & Gateway stations NEW PRICE!

54370 Bridal Falls Road, Chilliwack 14.165 acres Development potential &YQPTVSF BOE BDDFTT UP )JHIXBZ QIBTF QPXFS t $PWFSFE TUPSBHF BSFBT

Casey Bell, Anthony Lux

Mitch Ellis, Casey Bell

Casey Bell, Anthony Lux

Rand Thomson, Sebastian Espinosa

Rand Thomson, Sebastian Espinosa

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

www.dtzvancouver.com

Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent veriďŹ cation. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 03/2012.

A6 Lower Mainland

www.westerninvestor.com MARCH 2012WESTERN INVESTOR

-FU NPOFZ NBLJOH $.)$ EP JUT UIJOH here is a lot of talk in Ottawa these days about reining in Canada Mortgage and Housing Corp., (CMHC) the federal Crown corporation that provides mortgages for many of Canada’s homeowners and nearly all of those at the highest risk of defaulting. The reason for the concern is that CMHC is reaching its government-mandated insurance ceiling of $600 billion. But we believe putting the brakes on one of the few government arms that actually pockets a profit would be a mistake. In 2010, CMHC profits soared to $1.77 billion, up from $930 million a year earlier, while providing insurance to nearly 645,000 homes. And this was during a fairly slow year for housing. Banks in Canada must ensure that mortgages for which the home buyer has a down payment of less than 20 per cent are insured, either by CMHC or one of its private-sector competitors, namely Genworth MI Canada Inc. and Canada Guaranty Mortgage Insurance. The insurance compensates the bank if the homeowner defaults on the mortgage. CMHC holds about 80 per cent of this

5

market and its premiums are not cheap. For a buyer with 5 per cent down, CMHC charges from 2.75 per cent to 4.75 per cent of the cost of the mortgage. Critics wring their hands and worry that if homeowners can’t make their payments, CMHC – that is taxpayers – would be stuck with the bills. But CMHC is in a very secure position. The default rate on high-ratio mortgages in Canada is a tiny .42 per cent, and has never been any higher in three decades. But CMHC also provides insurance on homes with plenty of equity. This is because the major banks, wanting to protect themselves from any potential risk, quietly buy CMHC insurance even if the home buyer puts down 20 per cent or more as a down payment. On these loans, the default rate is nearly invisible, but CMHC charges the banks 1 per cent of the mortgage for the insurance. As well, CMHC provides mortgage insurance to those buying apartment buildings, which allows landlords access to longterm mortgage money at super-low rates in the 3.5 per cent range for 10 years. The reason why CMHC is nearing its $600 billion cap is related to higher housing sales and starts, only natural in a growing

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

market. But if CMHC is restricted, it could mean that new immigrants to Canada, firsttime buyers, the self-employed and landlords would have much more difficulty buying a property, which could slow the economy. Last year, the federal government tried to make it harder for CMHC to ensure homes. The finance minister ordered that speculators and secondary home buyers had to put down at least a 20 per cent down payment, mortgage amortization for all insured mortgages was cut back from 35 years to 30 years and restrictions were placed on home equity loans. The measures did little to cool the housing market, however, and CMHC remains on track to make another hefty profit. And that is all right with us.

/&95 .0/5)

Western Investor takes a close look at franchises and small business. We report on land prices, from farms to the urban centres. We plug into the latest in online real estate sales through social media. Our regional reporters file from Abbotsford, Airdrie and Flin Flon. FRANK O’BRIEN EDITOR wieditor@biv.com

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

ADVERTISING DEADLINE APRIL 2012 issue: March 12, 2012

Each office is independently owned and operated.

Franchise Opportunity Blenz Master Franchise in Vancouver, Vancouver Island, Ontario & Alberta Blenz Franchises ........$139,900, $179K - $488,800 Steamrollers Franchise Vancouver.$319K (Davie St.) Steamrollers Franchises Opp. SOLD Wired Monk Individual Franchise Opportunity Wired Monk ......................................... $99K, $169K, Wired Monk New Franchises - Vancouver ................................ $262K-$350K depending on location Sandwich Tree master franchise opportunity $235K Casa Del Sole Café...............................................$175,000

www.matthewmoadebi.com www.vancouverfranchise.ca

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

$588,000

MOTEL 30 rooms well established, good location, building in excellent condition. $1,165,000 GAS STATION, building land equipment included, all updated 3.5 ac land 5 legal lots. Additional buildings on the properties. $1,288,000 RESTAURANT, 27 years in business. Building, land and equipment included $800,000 MANUFACTURE of high-bedding (pillows, duvets, cushions). Offered for $250,000 WHOLESALE BUSINESS VANCOUVER, over 35 years in operation, good location, handling many exclusive products. Offered for $598,000 Please call

RICHARD PODGURSKI

RE/MAX Masters Realty

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

Attention Agents:

Commercial building in the heart of downtown Fernie, BC

RESTAURANT CONVENIENCE BUSINESS C H I L L I W A C K , B C STORE

REACH QUALIFIED BUYERS FOR YOUR LISTINGS

call Gary Takahashi

3000sqft main floor commercial space and two partially finished residential suites upstairs waiting for someone to finish the renovations. MLS K4100066

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

Call for more details 250-430-1070

gtakahashi@westerninvestor.com

Rare opportunity! First time offered, owners retiring after 22 years!

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

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

110-5615 Teskey Way, Chilliwack, BC

Business known as “Close to Home Grocery and Deli”

Excellent “going concern” business in new contemporary strip mall. . Convenience store selling grocery, gift items, fresh produce, meat, deli, bakery & more. Going into 4th year of operation with steady increase in sales and showing good profit. Extensive equipment list that was purchased brand new at the initial outset of the business. Located in vastly growing residential area! Wonderful opportunity to own your own business.

Call Janet Kirkpatrick Today!

JANET KIRKPATRICK

Toll Free: 1-800-830-7175 Tel: 604-858-7179 Fax: 604 858 7197 RE/MAX NYDA REALTY

Each office is independently owned and operated.

Lower Mainland A7

WESTERN INVESTOR MARCH 2012 www.westerninvestor.com

Vancouver Office 604 687 7331 s

s

For more information visit our website

www.avisonyoung.com

FEATURED LISTING FOR SALE – Dollarton Business Park - 197 Forester Street, North Vancouver

FOR SALE – Abbotsford Industrial Land s 2ARE SERVICED LAND

s "RAND NEW STOREY STRATA OFl CE m EX INDUSTRIAL BUILDING

s :ONED )NDUSTRIAL #OMMERCIAL

s ,OCATED IN .ORTH 6ANCOUVERgS FASTEST GROWING COMMERCIAL HUB

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s 5NIT SIZES FROM APPROX SF SF FULL m OOR

s ,OCATED AT -T ,EHMAN 2D "ROOKSIDE !VE

s TO ACRE SITES

s M TO 4RANS #ANADA (WY

5FSSZ 5IJFT *BO 8IJUDIFMP FOR SALE – Villa Rosario – 2325 York Avenue, Vancouver s ,OCATED ONE BLOCK FROM +ITS "EACH s SUITES n COMPLETELY RENOVATED IN s +ITCHENS HAVE STAINLESS STEEL APPLIANCES GRANITE COUNTERTOPS s 0ENTHOUSE UNIT HAS A LARGE WALK OUT DECK WITH VIEW

.JDIBFM 'BSSFMM +PIO &BLJO HIGH EXPOSURE RETAIL INVESTMENT OPPORTUNITY 689 Denman Street, Vancouver s (IGH END RETAIL BUILDING ON CORNER OF $ENMAN 3TREET 7 'EORGIA 3TREET s $IRECT DAILY EXPOSURE TO VEHICLES

3PC (SFFS $ISJT 8JFTFS FOR SALE – Village Square, Bowen Island

s RESIDENTS WITHIN KM RADIUS

s /PPORTUNITY TO ACQUIRE THE MARQUEE COMMERCIAL PROPERTY s SF OF COMMERCIAL SPACE AND RESIDENTIAL RENTAL UNITS s #ORNER LOCATION WITH HIGH EXPOSURE TO FERRY TRAFl C s (IGH OCCUPANCY AND ATTRACTIVE CASH m OW YIELD

s 0ROMINENT PEDESTRIAN CORRIDOR NEAR ENTRANCE TO 3TANLEY 0ARK

3PC (SFFS .BSL )BOOBI

.BSL )BOOBI 3PC (SFFS FOR SALE – Pacifi c Colonade – 11965 Fraser St., Maple Ridge

FOR SALE – Prime Corner Retail – 1102 Commercial Drive

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

s 3ECURE A CORNER LOCATION ON THE $RIVE IN 6ANCOUVER s %NTIRE PROPERTY LEASED TO A SINGLE TENANT WITH TRIPLE NET LEASE s "ELOW MARKET RENTS WITH OPPORTUNITY TO REPOSITION THE 0ROPERT Y s ,EASE HAS h$EMOLITION 3UBSTANTIAL 2ENOVATIONv CLAUSE

.BSL )BOOBI 3PC (SFFS

.BSL )BOOBI 3PC (SFFS FOR SALE – Washington Apartments – Courtenay, BC

FOR LEASE – 11125 124th Street, Surrey s SF OF DISTRIBUTION PRODUCTION SPACE DEMISABLE s %XCELLENT PARKING AND ACCESS TO 3KY4RAIN s 2AIL POTENTIAL WITH 329

s UNITS s !TTRACTIVE ASSUMABLE #-(# &INANCING s /PPORTUNITY TO BUILD ADDITIONAL RENTAL UNITS ON THE SITE

3PC (SFFS $ISJT 8JFTFS FOR SALE – 13056 114 Avenue, Surrey s ACRES OF INDUSTRIAL ZONED LAND s %XCELLENT SIGNALLED ACCESS TO NEW 3OUTH &RASER 0ERIMETER 2OAD AND +ING 'EORGE "LVD

.JDIBFM 'BSSFMM +PIO &BLJO FOR SALE - 2342 Windsor Street, Abbotsford

40

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+PIO &BLJO .JDIBFM 'BSSFMM #BM "UXBM FOR SALE – 9781 186th Street, Surrey R T DE AC N TR UN CO

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

FOR LEASE – 1132 Hamilton Street, Vancouver s s s s

OR SF RETAIL PREMISES AVAILABLE *UNE 0ROMINENT 9ALETOWN LOCATION WITH SIGNAGE EXPOSURE &RONTAGE ON BOTH (AMILTON -AINLAND 3TREETS /UTDOOR PATIO SPACE FRONTING -AINLAND 3TREET

.BUU 8BMLFS .POB ,IBOEBO

FOR LEASE – Capilano Business Park, N. Vancouver s /Fl CE m EX INDUSTRIAL UNITS FROM n SF s .ORTH 6ANCOUVER S 0REMIER "USINESS 0ARK s WWW #APILANO"USINESS0ARK CA

5FSSZ 5IJFT *BO 8IJUDIFMP

FOR LEASE – NorthWoods Business Park, N. Vancouver s &LEX OFl CE INDUSTRIAL UNITS FROM SF s "UILDINGS n !VAILABLE 3EPTEMBER s WWW .ORTH7OODS"USINESS0ARK COM

5FSSZ 5IJFT *BO 8IJUDIFMP

FOR SALE – 2021-2025 St. John's Street, Port Moody s #OMMERCIAL -IXED 5SE $EVELOPMENT 3ITE s (IGHLY VISIBLE TWO ACRE CORNER SITE s ,OCATED ALONG THE %VERGREEN ,INE #ORRIDOR

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s %XCELLENT USER )NVESTMENT OPPORTUNITY s SF SPACE AVAILABLE WITH YARD s .EWLY LANDSCAPED AND RENOVATED s

FOR SALE – 9532 194A Street, Surrey E D IC CE PRDU RE

s ACRE LOT WITH SF BUILDING s TON CRANE HEAVY POWER •

+PIO &BLJO .JDIBFM 'BSSFMM FOR SALE – 1496 Rupert Street, North Vancouver s ,OCATED IN THE NEWLY REDESIGNED ,YNNMOUR NEIGHBOURHOOD s )NVESTMENT OR OWNER USER OPPORTUNITY s

.BUU 5IPNBT ,ZMF #MZUI FOR LEASE – Merchant Square, 1 Eighth St (@ Columbia St), New Westminster s 0REMIER SF #LASS ! OFl CE SPACE MID COMPLETION s ,%%$ 'OLD ENERGY EFl CIENT OFl CE BLDG W LARGE m EXIBLE m OOR PLATES s !DJACENT .EW 7ESTMINSTER 3KY4RAIN STATION %BSSFMM s !BUNDANT PARKING AMENITIES SPECTACULAR VIEWS )VSTU CANADA WAY BUSINESS PARK s 0ROMINENT ANCHOR TENANT OPPORTUNITY AVAILABLE SKY SIGNAGE s ,ARGE m EXIBLE m OOR PLATES n UNITS FROM n SF s !BUNDANT AMENITIES INCLUDING ON SITE PROPERTY MANAGEMENT SECURITY HIGH RATIO PARKING FOOD SERVICES s 3HUTTLE SERVICE TO 3KY4RAIN STATION

%BSSFMM )VSTU .BUU $SBJH FOR SALE - 701 East Cordova Street, Vancouver s 3& 7AREHOUSE -EZZANINE 3TORAGE s !CRE 3ITE s 3ITE #OVERAGE s %XCELLENT 3IGNAGE /PPORTUNITIES s +PIO -FDLZ 4USVBO 4BEMFS Avison Young Commercial Real Estate (B.C.) Inc.

A8

www.westerninvestor.com MARCH 2012WESTERN INVESTOR

FEATURE “Running out of land” mantra resurfaces as Metro Vancouver industrial market turns white-hot

5IFSF¤T OPXIFSF CVU VQ PETER MITHAM/WI STAFF WESTERN INVESTOR etro Vancouver is running out of industrial land and a “total rethink” of how industrial space is used is needed if supply is to match future demand, according to both developers and end users.

The industrial land base in the Metro region totals 28,246 acres, but more than three-quarters of that land has already been developed. Now big questions are being asked about how much of the remaining undeveloped land (6,634 acres) is usable. Longtime Vancouver real estate industry insider Bob Laurie believes the region has far less usable industrial land than Metro Vancouver outlined in its 2010 industrial lands inventory, which was published last November. Further, Laurie notes, the document does not tell whether the land is zoned, serviced, subdivided or even marketable for industrial use. That presents a problem for the port and the provincial government, which both want Vancouver to become Canada’s economic gateway. In order for that gateway to work, however, land close to rail, roads or water is needed for logistics business to effectively move goods. During a recent Vancouver Board of Trade address, Port Metro Vancouver president and CEO Robin Silvester sounded the alarm bells about the impact on the local economy if industrial land is not protected soon. The worstcase scenario, he said, is that Metro Vancouver would be turned into a “local fortress” reliant on regional instead of global economic ties. “It starts to play out to Vancouver no longer being an international city, Vancouver no longer being a full economy,” Silvester said. “You start to think of big communities in Florida that are just retirement communities. I

Photo: Colliers International

.

Oxford Properties Group recently bought the 64-acre former Norampac mill site in South Burnaby (highlighted near centre bottom of photo) for $20 million.

don’t think that’s what Vancouver wants to be, but that’s a possible consequence.” Or you start to rethink how industrial real estate is developed. The only direction for industrial is east and the only hope is higher density, said Murray MacKinnon, vice-president, sustainability, with construction giant Ledcor. MacKinnon, who joined a panel looking at “green industrial” last month in Vancouver, said industrial developers will be forced to look at mixed-use split locations and two-or-three-storey buildings. “It requires a total rethink of how industrial space is used,” MacKinnon said. He referred to a concept that the City of Vancouver studied, wherein industrial space in East Vancouver could be used for light distribution space, with the heavy warehouse and transport site further out in the Fraser Valley. Also, a number of older industrial sites have large parking areas that could be redeveloped, he said. MacKinnon also suggested that building office space or even residential

condominiums above industrial space may help developers alleviate the soaring costs in a region where serviced land can easily top $1 million an acre. To build a single-storey, 100,000-square-foot warehouse in a prime Metro Vancouver location on a five-acre lot today would cost more than $5 million for the land, $750,000 in construction and up to $1 million in total civic fees, according to a 2011 report from commercial real estate association NAIOP. Development cost charges alone in Surrey and Langley – which have the most industrial land – would total more than $400,000. MacKinnon conceded that industrial developers – used to fast, no-frills, tilt-up construction – would likely be resistant to any measures that would add even more to the price.

&BHFS JOWFTUPST

Yet, for all the challenges, speculators still see Metro Vancouver as among the best industrial plays in the country.

“The feeling is if you’re going to pay $150 a [square] foot for a building in a decent location in Vancouver, it’s always going to be worth that, or it’s always going to be worth more,” Kevan Gorrie, vice-president, industrial, with Oxford Properties Group, told NAIOP members during a review of industrial markets in January. “There just is not a lot of opportunity it’s very difficult to look at this market and say what cap rate makes sense.” The lack of supply for both investors and developers is partly why Oxford jumped a t the chance to acquire the Norampac mill site in South Burnaby last year for $20 million. The site is 64.4 acres and gives Oxford a flexible development opportunity when the time comes (it’s currently leased back for a year to Norampac). “The location is stellar and the size and scale gives us what we need to respond to what the market needs here in Vancouver,” he said. “The site was big enough and the way it’s oriented, the way it’s laid out, gives us design flexibility so we can respond to emerging trends in the market.” But some of Oxford’s competitors for development sites note that the activity by Oxford is a sign that competition for industrial property is heating up. Oxford, which represents the Ontario Municipal Employees Retirement System (OMERS) – is the first institutional buyer to move into South Burnaby sinceTonko Realty Advisors Ltd.’s launch of Glenwood Industrial Estates in 2005. While prices of industrial sites in North Vancouver has been bid up by residential developers, Todd Yuen of the Beedie Group noted that land is in tight supply – and critical for companies like Beedie that depend on it for development activities. “We have fairly decent holdings, but the activity we’ve had over the last three years has eaten into our land bank very significantly,” Yuen said. “[The Norampac deal] forces us to be more reactive, and more responsive in land acquisitions.” The anxiety comes as Metro Vancouver industrial markets experience remarkable

-PXFS .BJOMBOE

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

COMMERCIAL R E A L E S TAT E S E R V I C E S SENIOR'S DEVELOPMENT SITE SALE: $2,480,000 Foundation in place, tendered plans, permits, ready to complete. 88 units. City hall tax audit of $1m+.

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

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

SOLD

NEW WEST/BURNABY MIXED DEVELOPMENT 39 Apartment Units, 7 Townhouse Units $2.99 Million. OCP & Area approved plan.

30 ACRES Residential Mountain Top 44 Estate Homes - $5.5M Your specialist in PRIME income-generating and redevelopment opportunities:

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

SOLD

SOLD

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

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

Dick Vandenberg 360-393-2414

A9

WESTERN INVESTOR MARCH 2012 www.westerninvestor.com

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Photo: Colliers International

strength. A year ago, Avison Young principal Rob Gritten told NAIOP, “There are deals being done, and at prices higher than you might think.” Now people are thinking of higher pricing, thanks in part to low interest rates that have kept the cash flowing. Overall sales volumes in 2011 totalled $682 million, according to RealNet Canada Inc., and CB Richard Ellis expects that figure to top $725 million this year. But land sales – an indicator of the volume of land being acquired for future development – have fallen consistently since 2007, when transactions totalled $375 million. In 2011, the tally was $180 miltlion – less than half. CB Richard Ellis is calling for $200 million in transactions this year, the same as its call for last year when a lack of supply curtailed dealmaking. And it’s not for lack of demand; while the recession meant excess supply on the market, vacancies are trending down, from 5.2 per cent in 2011 to a projected 4.8 per cent in 2012. While lease rates have fallen, taking a 10 per cent to 20 per cent hit in some cases, Gorrie feels the slide is over. “Rates have definitely bottomed out. I think inducements are going to be here for at least 2012, and possibly into 2013, but I think there is going to be a tightening of the rates,” he said. His own personal call is for lease rates to climb 50 to 75 cents by the end of 2013 (asking lease rates have been running between $5 and $15 in markets between Burnaby and Surrey). Darren Cannon of Colliers International shares Gorrie’s optimism. While there’s a lot of sublease space on the market, well-located sites in East Richmond and South Burnaby have seen strong demand. And with the opening of the South Fraser Perimeter Road in 2013, adjacent sites will start to see movement – both in traffic and leasing. “I don’t see any downside,” Cannon said, looking ahead to 2013. Whatever vacancies and sublease opportunities are like today, the new highway is going to change the game for landlords and tenants alike from Delta to Surrey. r “If I was a buyer today I would be sitting and looking at those markets, because I think

Older industrial sites – such as this 1.2-acre Surrey parcel listed at $2.99 million – have large parking spaces that could be redeveloped, perhaps into two-storey buildings.

you’re going to a see a significant run on lease rates down in the south end.” Traffic through Port Metro Vancouver underpins Cannon’s reasoning. Overall, the port handled 122.5 million tonnes of cargo in 2011, a 3.4 per cent increase over 2010. While incoming container traffic remained relatively flat, increasing a mere 1 per cent, outbound containers increased 5 per cent to 12.8 million tonnes. Vancouver is especially well positioned to benefit from the traffic because it’s a gateway city: both a port of entry and a major residential hub, two factors that work together to keep industrial markets strong. Gorrie, speaking from his experience in Toronto, said manufacturing in Canada’s industrial heartland is no longer driving industrial use. “We’ve probably lost 30 per cent to 40 per cent of the manufacturing base, and that’s not going to get better,” he said. “So even in the last decade, the real estate that we’ve looked for or have owned has changed.” Being close to the U.S. border no longer matters as much as it once did. “You want to be near large urban centres, and urban centres that have good demographics for purchasing, for consumer demand,” he said. “What we’ve seen is simply the industrial base and the retail base becoming truly aligned.” Third-party logistics is increasing in signifi-

cance to the Metro Vancouver industrial leasing market, while other users are increasingly opting for strata space. They’re by nature less volatile in their space requirements, and driving the update in this sector. Sales of strata space totalled $197 million last year, according to RealNet data, and CB Richard Ellis expects the volume to top $225 million in 2012 – approaching the all-time high seen in 2010 of $230 million. The quality of the space is as much a reason for the activity as the current financing environment that has made a mortgage more attractive than a lease deal. “The users now have an opportunity, if they’re between 10,000 and 50,000 square feet, to buy in core markets like South Vancouver, like Tilbury, like South Burnaby, and take advantage of low interest rates,” Cannon said. With features such as 24-foot ceilings and expansive floor space, this is product that’s just not available for lease unless it’s in a build-tosuit project. “It’s simply a function of bring a class of product to the market that wasn’t there before,” Yuen added, noting that Beedie has built and sold a million square feet of strata space, and at a price companies find attractive. “It’s time to own a piece of the rock,” Yuen said. “It’s not like they’re waking up and seeing cheap money and saying, ‘Oh, I’m going to buy something.’”◆ - With files from Joel McKay/BIV

significant chunk of Metro Vancouver’s available industrial land is south of the Fraser River in Surrey and Langley or in the far northern reaches of Maple Ridge, but Eric Trygg, a private developer, said the industrial land market in the Fraser Valley is far more constrained than people think. “With the exception of Campbell Heights [a Surrey industrial park], there’s less than a year’s supply anywhere in the valley that I know of,” said Trygg. Bill Hobbs, vice-president industrial at Cushman & Wakefield in Vancouver, agreed. “If you’re looking for a five-acre or 10-acre parcel in the Fraser Valley, it’s on one hand that you’d be able to [count] serviced and zoned properties … it’s frighteningly tight.” The lack of industrial land drives away businesses that would otherwise set up shop here. “Bottom line is, it’s a cost disadvantage,” said Hobbs. Last fall, commercial real estate broker Avison Young pointed out in an industrial overview report that the “overall lack of supply” in the market has restrained “deal and dollar volumes throughout the region despite high demand.” The lack of supply has also kept prices high for years. Vancouver had the highest baseline cost per acre for industrial land in Canada, according to a site selection industrial index from before the financial crash in 2008. Prices per acre in Metro Vancouver ranged between $500,000 and $1.2 million four years ago. Prices today are at least 10 per cent higher, agents estimate. That’s compared with the city’s nearest Canadian competitor, Calgary, where industrial land sells from $350,000 and $1 million per acre. – With files from Joel McKay/BIV

-PXFS .BJOMBOE LD O S

353 WATER ST.

LD SO

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LD O S

620 SEYMOUR ST.

LD O S

LD O S

678 E. HASTINGS ST.

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

1-15 W. CORDOVA ST.

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

611 POWELL ST.

LD SO

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

350, 356 & 360 CARRALL ST. • EXCELLENT GASTOWN RETAIL UNITS • PRIME OWNER OCCUPIER/INVESTMENT OPPORTUNITIES • NEWLY RE-DEVELOPED MIXED-USE BUILDING • LARGE RETAIL DISPLAY WINDOWS • UNIT SIZE: APPROX 863.27 SF TO 1,808.34 SF (AS PER STRATA PLAN) • ZONING: HA - 2 LIST PRICE: FROM $325,000

LD O S

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

LIST PRICE:

$849,000

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

A10 Lower Mainland/Services COMMERCIAL MORTGAGES

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" , FOR ALL TYPES OF COMMERCIAL PROPERTY:

UĂŠ ÂŤ>Ă€ĂŒÂ“iÂ˜ĂŒĂŠLĂ•ÂˆÂ?`ˆ˜}Ăƒ UĂŠ ˆĂ?i`Â‡Ă•Ăƒi UĂŠ-ĂŒĂ€>ĂŒ>ĂŠĂ€iĂŒ>ˆÂ? UĂŠ ÂœĂŒiÂ?Ă‰Â“ÂœĂŒiÂ? UĂŠ ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ĂŠĂœ>Ă€iÂ…ÂœĂ•Ăƒi UĂŠ ÂœÂ˜ĂƒĂŒĂ€Ă•VĂŒÂˆÂœÂ˜Ă‰`iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒ >ĂƒĂŒĂŠ ÂŤÂŤĂ€ÂœĂ›>Â?ĂŠUĂŠ*Ă•Ă€VÂ…>ĂƒiĂŠÂœĂ€ĂŠ,iw˜>˜Vi The Origin Group — Mike Lee

604-565-6370

1-877-848-6370

michaellee@origingroup.ca

Warehouse for Sale !BBOTSFORD s 6ACANT 2372 Townline Road Footprint 26,900 sq. ft. Land – 1.36 Acres Mezzanine about 19,300 sq.ft. Overhead Clearances: s SQ FT AT FT s SQ FT AT FT MEZZANINE s SQ FT AT FT ABOUT SQ FT IS INSULATED SQ FT OF OFlCE AND STAFF FACILITIES Three rooftop coolers

0RICE MILLION Phone 604 214 2957

ADL:G B6>CA6C9 H=DEE>C< 8:CIG: ;DG H6A: $9 MILLION.

FOR SALE

A>FJDG HIDG: >C 9:AI6 H=DEE>C< 8:CIG: ;DG H6A: $1.59 MILLION.

4 LOTS APPROVED FOR SUBDIVISON

PORT COQUITLAM SO

LD

$1,395,000

&*!&'. H#;# G:I6>A D;;>8: 7J>A9>C< >C 9:AI6 ;DG H6A: $5.5 MILLION.

LANGLEY

A6C<A:N 76@:GN ;DG H6A: $119,000. $400k PER YEAR SALES.

46 PRIVATE ACRES (2 Titles) $6,250,000

IH6LL6HH:C =6>G H6ADC ;DG H6A: $40K.

FLEETWOOD

A6C<A:N 76@:GN ;DG H6A: $119,000 $400k

4 LARGE LOT SUBDIVISION

$1,599,000

ADD@>C< ;DG HE68: ;DG/ School, 5000 – 8000 sq. ft. (major centres) Produce/Butcher 5000 sq. ft. QSR’s 900 – 1200 sq. ft Restaurant 1500 – 3000 sq. ft..

MAPLE RIDGE

16 ACRES + LARGE HOME

$2,100,000

Michael Anderson

Please visit our website or call for more details.

604.374.1171

monarkinvestments.ca

604-592-7250

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Financing Available. Potential Trades.

MORTGAGE FINANCING For all your real estate ďŹ nancing needs www.peoplestrust.com BRITISH COLUMBIA REGION

Brian D. Kennedy 604-331-2211

BRITISH COLUMBIA REGION

Jonathan P. Wong 604-331-2218

PRAIRIE REGION

Dennis K. Aitken 403-205-8203

PRAIRIE REGION

Daniel Stewart 403-205-8202

A11

WESTERN INVESTOR MARCH 2012 www.westerninvestor.com

FEATURE B.C. ski resorts stare down slippery slope of high supply, stalled demand from condo investors tain for the market price the land had before the infrastructure upgrade was installed. Before CASP was enacted, ski resort developers were at the mercy of land speculators who bought land near potential developments. The policy resulted in proposed developments moving away from areas where there was privately held land to sites where the base of the resort would be on Crown land. “It really helped Kicking Horse Carving fresh snow at Sun Peaks near Kamloops: debate raging on Resort,” Raine added, whether market can handle new resorts. referring to the Costello has thus far cleared all obstacles in Golden-area resort that was recently sold for the way of his development, including a nine- $28 million. “That wouldn’t be there without and-a-half-year environmental review. He said this policy.” But the policy doesn’t mean that all proposed he’s ready to start pumping tens of millions of resorts are given the green light. dollars into creating the resort. The B.C. government approved Garibaldi Sun Peaks mayor and longtime ski industry entrepreneur Al Raine likes Costello’s enthusi- Alpen Resorts Ltd.’s plans to develop a ski asm. “People who I’ve heard talking the loud- resort at Brohm Ridge in Mount Garibaldi est about how capacity at B.C.’s ski resorts Provincial Park in 2003. But BC Supreme should be held back are usually the existing Court judge Marvyn Koenigsberg overturned that approval later in the year, ruling operators,” he said. “If someone is there with major investment that the government did not fully consult with money on a major resort and the project would the Squamish First Nation. Raine was also the driving force behind help elevate B.C.’s international image in the ski business ... let them go do it. We should developing a major mountain resort at Melvin Creek in the Cayoose Range between encourage them.” That sentiment formed the core of B.C.’s Pemberton and Lillooet. “I backed away from commercial alpine ski policy (CASP), which that. Land-use issues were unresolvable,” the Raine helped write, and which the Social Credit 70-year-old said. government implemented in the 1980s. That policy is also a key component of )PUFM DPOEPT But potential ski resort developers are also facJumbo’s business plan. Ski resort operators say that CASP helped ing a financing challenge after what appeared B.C. develop its ski sector into what is now to be a brilliant concept a few years ago – selling hotel units directly to investors – has turned more than a dozen resorts. CASP has since expanded to become the all- to be a spectacular bust. Neither fractional ownerships or hotel conseason resort policy (ASRP), which includes non-ski operations. It allows developers who dominiums, both of which rely on individual are willing to invest in infrastructure such as ski buyers purchasing hotel rooms and then putting lifts to buy Crown land at the base of the moun- them into a rental pool, have proved profitable

GLEN KORSTROM/FRANK O’BRIEN WESTERN INVESTOR ritish Columbia ski resorts may have reached the tipping point on the number of resorts needed – and any new developers will face financing challenges as investment condo sales whither. Such are the findings of a Western Investor look at a potential slippery slope facing mountain resorts.

#

The capacity debate is intensifying in the lead-up to a provincial government ruling on a proposed $450 million resort on Jumbo Mountain in the Kootenays. Forests, Lands and Natural Resource Operations Minister Steve Thomson is expected to decide this winter whether to give Jumbo final approval. But Grouse Mountain owner Stuart McLaughlin believes B.C. has more than enough ski resorts and that new ones will only erode existing operators’ bottom lines. “We need current resorts to flourish,” McLaughlin said. “There’s lots of capacity in the system right now. Once all resorts are successful, that will create the need for more resorts and improve the likelihood of success for anyone who comes later.” McLaughlin’s resort generated record revenue, in the $50 million range, in 2011. Success has largely come from adding attractions. For example, McLaughlin launched zip-lines in 2008 and spent several million dollars to build Grouse Mountain’s Eye of the Wind turbine and lookout, which opened immediately prior to the 2010 Winter Olympic Games. Grant Costello, senior vice-president with proposed Jumbo Mountain developer Glacier Resorts Ltd., said his opponents are often ski resort operators who don’t want competition from what would be B.C.’s only year-round ski resort.

Photo: Sun Peaks Ski Resort

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for investors. “Every hotel condo investment [in B.C.] has lost money for the investor,” said real estate consultant Ozzie Jurock. “Every one.” The crash has led to a giddy free fall in prices. At Sun Peaks Ski Resort near Kamloops, some hotel condos that once sold for around $199,000 are now being offered at from $19,000 to $25,000 – with some selling for even less. The typical arrangement allows owners 56 days of use per year with the units potentially rented the rest of the time. The catch is that monthly fees for owners can easily top $360 per month and the owner receives less than half of any rental income, with the rest going to management. In most cases, rental incomes don’t cover the management fees. At Whistler, hotel condos – known as Phase 2 units – are selling this year for less than they were in 1999, according to veteran Whistler realtor Mike Wintemute. Recent listings show one-bedroom Phase 2 suites at Whistler are priced as low as $61,000.

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Fractional units, where resort hotel suites are usually sold in one-eighth to one-quarter shares, have also floundered. The most recent and highest-profile collapse is the luxury Parkside Resort and Spa in Victoria where one-eighth fractional shares were being sold from $115,000 to $121,000 last January. By November 2011, Parkside was in receivership with more than $61 million in unsold inventory, according to court filings by Victoria-based developer Aviawest Resort Group. As Jurock explains, the problem with fractionals during a downturn is that eight owners will be all trying to sell the same unit at the same time. “No one will build hotel condos or fractionals anymore,” predicted Zack Bhaista, vicepresident of Mayfair Hotels and Resorts of Vancouver, which has just broken ground on the Crystal Blu Hotel in downtown Vancouver “Anybody who bought a [shared ownership] hotel unit in the last 10 years has lost a tremen dous amount of money,” he said.◆

-PXFS .BJOMBOE

PUBS

SPECIALIZING IN COMMERCIAL INVESTMENT SALES FOR OVER 23 YEARS

For Sal e

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

WE HAVE BUYERS FOR YOUR PROPERTY "BUY-SELL-DEAL WITH SUCCESS"

Chinatown Investment Prop 416 Main Street

Strategic Investment ING IST L NEW

FOR SALE INDUSTRIAL PROPERTY DELTA, BC

IͳI ZONE, 11,680 SF BUILDING ON ½ ACRE ...................................................$1.699M SEYMOUR RESTAURANT FOR SALE 2400 SF .................................................. $480,000 WEST 4TH AVE RESTAURANT FOR SALE 2000 SF ......................................$460,000 WEST 4 AVE RESTAURANT FOR SALE 1800 SF .................................................. $250,000

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

LOWER MAINLAND Pub & Liquor Store

Opportunities For Lower Mainland Pub Opportunities call:

JOHN JOHNSON

Restaurant For Sale D SOL

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

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

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

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

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

138 East Pender D SOL

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

For more details: Success Realty & Insurance Ltd.

JORDAN ENG (604) 728-0883 JOHN JOHNSON

jordaneng@telus.net

LASER & ESTHETIC BUSINESS FOR SALE GREAT REVENUE, MINIMAL MANAGEMENT .................................................. $120,000 SUB LEASE 3400 SF 61 WEST 7TH AVE ........................... $11.25/SF + OPERATING CAUFEILD SHOPPING CENTRE RESTAURANT .................................................. $375,000 DEVELOPMENT SITE VICTORIA FOR SALE 1.74 ACRE 168 UNITS ...................$12.95M 2 LIQUOR STORES FOR SALE SALES $4M & $2.7M .....CALL FOR DETAILS 2 LIQUOR PRIMARIES DOWNTOWN VANCOUVER ..................$1.1M & $1.8M

Alex Yuen (PREC)

Dir: 604.338.1800 Off: 604.926.6718

alex@alexyuen.ca

A12 Lower Mainland

www.westerninvestor.com MARCH 2012 WESTERN INVESTOR

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

s #OMMERCIAL 2ETAIL 'ARDEN #ITY #AMBIE $7 Million

BEAUTY BOUTIQUE & ACCESSORIES (Vancouver) 6ERY WELL KNOWN CELEBRITY BOUTIQUE SPECIALIZES IN MAKEUP SKINCARE FASHION AND UNIQUE SOUGHT AFTER BRANDS !LSO OFFERS EXTENSIVE BEAUTY SERVICES INCLUDING PROFESSIONAL MAKEUP APPLICATIONS .......... ......................................................Reduced $238 000 + inv

VANCOUVER

BLUEBERRY FARM & NURSERY (Abbotsford) 3ITUATED ON PRIME -ATSQUI mATS 4HIS WELL MAINTAINED FARM WITH NEW SQ FT HOUSE OFFERS MATURE "LUECROP AND $UKE ..........$1.98Mil

RICHMOND s $EVELOPMENT SITE &RANCIS 2D 2AILWAY $4.8 Million

s #ONCRETE "UILDING 'EORGIA -AIN SOLD

$7.8 Million

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

www.naibusinesses.ca HALCYON HOT SPRINGS VILLAGE & SPA 9EAR ROUND OUTDOOR PLAYGROUND WITH SPECTACULAR FACILITIES 0ROlTABLE RESORT SPA BUSINESS WITH NATURAL HOT SPRINGS ACRES WITH M WATER FRONTAGE AND STRATA CHALETS "USINESS AND PROPERTY $15,900,000 VANCOUVER ISLAND RESORT & SPA NEW LISTING 0ROlTABLE RESORT LODGE AND SPA OFFERING WORLD CLASS DINING AND SPECTACULAR OCEAN VIEWS 3ITUATED ON ACRES OF OCEANFRONT PROPERTY WITH FUTURE DEVELOPMENT POTENTIAL $POA VALEMOUNT RAMADA HOTEL ....................... NEW LISTING ROOM 2AMADA HOTEL LOCATED IN THE HEART OF THE #ANADIAN 2OCKIES #AP RATE $4,200,000 SUCCESSFUL CUSTOM MILLWORK ............ NEW LISTING ,OWER -AINLAND BASED BUSINESS AVERAGING M IN REVENUE AND EMPLOYEES..........$2.9m inc working cap NEW LISTING ENGINE DISTRIBUTION CO 7ESTERN #ANADA ESTABLISHED DISTRIBUTOR OF MARINE AND INDUSTRIAL ENGINES AND RELATED PRODUCTS 3TRONG EARNINGS HISTORY TRAINED STAFF AND EXCELLENT PRODUCT LINES $2,500,000 inc inv & equip NIGHTCLUB BAR & GRILL +OOTENAYS !WARD WINNING NIGHTCLUB IN THE +OOTENAYS /NE OF THE LARGEST LICENSED ESTABLISHMENTS IN "# WITH POPULAR RESTAURANT $550,000 VANCOUVER DINNER CRUISE BUSINESS ............REDUCED )N BUSINESS FOR OVER YEARS OPERATING TWO YACHTS FROM $OWNTOWN 6ANCOUVER .ETS $1.85m inc yachts HAIR & BEAUTY SALON ,OWER -AINLAND 3UCCESSFUL FULL SERVICE BEAUTY SALON IN TRENDY AREA 3ALES OVER STAFF .O CHAIR RENTALS $258,000 + inv SUCCESSFUL CAFE RESTAURANT (UGELY POPULAR CAFE IN DOWNTOWN 3QUAMISH 'ENERATES MTH IN REVENUE 2ENT ONLY MTH %ASY TO OPERATE 4URNKEY OPERATION $299,000 inc equip

ALF SANDERSON DELON CHEUNG 604-691-6646

604-691-6654

alf@naicommercial .ca

delon@naicommercial .ca

42 SUITE APARTMENT BD, KAMLOOPS s 'ROSS )NCOME #AP 2ATE s 6ERY ATTRACTIVE ASSUMABLE #-(# MORTGAGE !SKING $3,850,000 MOBILE HOME PARK, KAMLOOPS s %XCELLENT LOC MIN DRIVE TO MAJOR MALLS s 'ROSS 2EV #AP 2ATE OF !SKING $1,725,000 MINI STORAGE BUSINESS, MERRITT s 'ROSS )NCOME .ET )NCOME 0RICE $1,300,000 BC CARE HOME s 7ELL ESTABLISHED WITH LONG TERM 'OV CONTRACTS !SKING $2,399,000 CRANBROOK RV & MINI STORAGE s !CRES EXPANSION OPTIONS TO DOUBLE NUMBER OF UNITS s 'ROSS 2EVENUE .ET !SKING $1,750,000 16 UNIT MFU, PORT ALBERNI s YEAR OLD BUILDING RENTED DEVELOPED TO BE 3TRATA !SKING $1,115,000

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

MOTEL PUB LIQUOR STORE (Vancouver Island) ,AKE FRONTAGE ROOM MOTEL OFlCE SEAT PUB SEAT RESTAURANT GAZEBO /N THE SIDE THERE IS BUSY LIQUOR STORE ...$2.8Mil

ELIZABETH WOZNICZKO 604-691-6648 elizabeth@naicommercial.ca OFFICE STRATA FOR LEASE OR SALE Asking: To Purchase: $1,798,000 To Lease: $35.00 NNN s 4HE ONLY UNIT AVAILABLE IN THIS SOUGHT AFTER 3/,$ /54 PROFESSIONAL CENTRE s 4ROPHY SUITE DEVELOPERS OWN TOP mOOR WITH EAST SOUTH VIEWS s 1UALITY IMPROVEMENTS WITH EXECUTIVE OFlCES RECEPTION BOARDROOM LUNCHROOM AND OPEN CUBICAL AREA s SQ FT FOR SALE LANGLEY FRASER HIGHWAY FRONTAGE COMMERCIAL STRATA UNITS 2 TO CHOOSE FROM s SQ FT READY FOR YOUR IMPROVEMENTS s (6!# AND SPRINKLERS TO AN OPEN PLAN s Asking $635,000 s SQ FT s )NCOME FROM CURRENT LEASE UNTIL s Asking $749,000

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

TED STELLAKIS 604-691-6692 stellakis@naicommercial.ca "52.!"9 s .%7 7%34-).34%2 s #/15)4,!RESTAURANT: SEAT 6ICTORIAN $1,425,000 INCL. BLDG SCHOOL SPACE: SQ FT CLASSRMS $7250 PER MO + HST WAREHOUSE: SQ FT $1850 PER MO + HST

INDUSTRIAL STRATA FOR SALE OR LEASE 102/103 26730 56 AVE LANGLEY Asking: To Purchase $650,000 To Lease $7.50 NNN s SQ FT FOOTPRINT WITH SQ FT OFlCE AND SQ FT MEZZANINE s REAR GRADE DOORS s - ! :ONING OFFICE STRATA FOR SALE OR LEASE HIGHWAY 10 AND 152 STREET LOCATION Asking: To Purchase $519,900 To Lease ... s 3Q &T s RD mOOR SOUTH FACING s 2EADY FOR YOUR IMPROVEMENTS s "/.53 n 0OLE SIGNAGE AVAILABLE s &INANCIAL 0LANNERS OR -ORTGAGE "ROKERS NOT RESTRICTED CAP-IT WESTERN CANADA FRANCHISES AVAILABLE s OUTLETS CURRENTLY IN OPERATION s 4RUCK #AP AND ACCESSORIES INCLUDING 4IRES s &ULL TURNKEY OPPORTUNITY INCLUDING 4RAINING AND )NVENTORY s "# !LBERTA 3ASKATCHEWAN AND -ANITOBA TERRITORIES AVAILABLE s 3IZED TO lT ANY MARKETPLACE s &ROM AS LITTLE AS $150,000 ONE HOUR OPTICAL CENTRE !SKING $250,000 PLUS INVENTORY s 7ELL ESTABLISHED YEAR HISTORY s #ONSISTENTLY PROlTABLE s /NLY HOUR SHOP IN THIS .ORTHERN #OMMUNITY s 3OLID BASE WITH GOOD GROWTH POTENTIAL s /WNER RETIRING AND WANTS IT SOLD 99 PAD PHASED MANUFACTURED HOME PARK 100 MILE HOUSE AREA Asking $650,000 s ,AKE !CCESS AND VIEW s "RAND .EW n .O INCOME n ST PHASE READY FOR OCCUPANCY s ACRES PADS IN PHASES s ST PHASE PADS COMPLETED WITH SEWER WATER AND NATURAL GAS s 3ERVICES TO BE EXTENDED FOR OTHER PHASES AS REQUIRED s 'RAVELLED ROADWAYS THROUGH OUT s 0ROFORMA ESTIMATES PAD RENTAL GROSS INCOME OF ANNUALLY

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

LOWRISE DEVELOPMENT SITE RESIDENTIAL LOT $1,980,000 RETAIL FOOD STORE: SQ FT $6500 PER MO

DON ELLIS, RI 604-691-6668 donellis@naicommercial.ca 1.99 Acre Multi Family Development Site, Sechelt BC s /NE LEGAL PARCEL TOTALLING ACRES s :ONED 2 -ULTI &AMILY 2ESIDENTIAL s OF UNDERGROUND SERVICING IN PLACE s PRICE: $2,100,000 23.3 Acre Agricultural Site, Delta BC s /NE LEGAL PARCEL TOTALLING ACRES s :ONED ! !GRICULTURAL s %ASY ACCESS TO (IGHWAYS s PRICE: $2,400,000 27.6 Acre Agricultural Site, Langley BC s /NE LEGAL PARCEL TOTALLING ACRES s :ONED 2U 2URAL &LOODPLAIN s !DJACENT TO .ATHAN #REEK DYKE s PRICE: $2,760,000

COURT ORDERED SALES 397 Acre Development Site, Sechelt BC s :ONED #$ MIXED USE RESIDENTIAL COMMERCIAL RECREATIONAL s FEET OF WATERFRONT ON 0ORPOISE "AY PRICE: $22,250,000 459.1 Acre Development Site, Cranbrook BC s :ONED #$ 5( 2 ALLOWING FOR LOW MEDIUM DENSITY RESIDENTIAL s 3URROUNDING 'ARY 0LAYER DESIGNED GOLF COURSE PRICE: $22,300,000 1.37 Acre Residential, Coquitlam BC s /NE LEGAL PARCEL TOTALING ACRES s :ONED 23 s #LOSE TO ALL AMENITIES PRICE: $1,225,000 116.53 Acre Development Site, Invermere BC s 4RIPLE :ONED 2 ! 3( VARIOUS USES PRICE: $1,499,000 INDUSTRIAL & DEVELOPMENT SITES 43,560 sq.ft. Industrial Waterfront Site, New Westminster, BC s :ONED - (EAVY )NDUSTRIAL s &IVE CONTIGUOUS WATER LOTS PRICE: $950,000 s FEET OF RIVERFRONT 29.2 Acre Commercial/Industrial Development Site, Sechelt BC s :ONED #$ "USINESS 0ARK #OMPREHENSIVE $EVELOPMENT ALLOWING FOR VARIOUS COMMERCIAL LIGHT INDUSTRIAL USES PRICE: $3,950,000 65 Acre Agricultural Resource Site, Sechelt BC • :ONED 22 2URAL :ONE ALLOWING FOR VARIOUS AGRICULTURAL GARDEN NURSERY SINGLE FAMILY AND RECREATIONAL USES PRICE: $1,200,000 1.82 Acre Multi-Family Site, Sechelt BC s /NE LEGAL PARCEL TOTALING ACRES s :ONED #$ MAXIMUM OF UNITS PRICE: $2,000,000 s $OWNTOWN ,OCATION

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

Committed to Canada. Connected to the World.

Lower Mainland A13

WESTERN INVESTOR MARCH 2012 www.westerninvestor.com

OLDER HOME on 33’ x 122’INDUSTRIAL LOT In Maillardville area of Coquitlam Asking $428,900

UĂŠKELOWNAĂŠĂˆ{ĂŠĂ•Â˜ÂˆĂŒĂŠ œ˜`ÂœĂ‰Ă€iĂŒ>ˆÂ?°ĂŠĂŠ

ÂœĂ€iĂŠ>Ă€i>°ĂŠÂźLĂ•ÂˆÂ?`ĂŠĂŒÂœĂŠĂƒĂ•ÂˆĂŒ½ĂŠ$11,750,000 UĂŠQUESNELĂŠ£°Ă‡ĂŠ VĂ€i]ĂŠĂ“ĂŠÂ˜>ĂŒÂˆÂœÂ˜>Â?Ăƒ]ĂŠ $144,500ĂŠ ]ĂŠ$2.1 M]ĂŠ£ä]äääĂŠĂƒvĂŠĂŠ ĂŠĂŒÂœĂŠ>``°

Zoned: M1 General Industrial allowing for Industrial Storage and Residential use. Complete the renovation for potential income of $3000/month

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UĂŠPRINCE GEORGEÆÊ££nĂŠ>VĂ€i]{ĂŠ ĂŠ iĂŒĂ€iĂƒĂŠ }Ă€>Ă›iÂ?]ĂŠ­>LĂ•ĂŒĂƒĂŠ>ÂˆĂ€ÂŤÂœĂ€ĂŒÂŽĂŠ$4,250,000

s 9IELDS TO

UĂŠGRAND PRAIRIEĂ†ĂŠÂ“ÂˆĂ?i`ĂŠ"É,ĂŠĂŠ $130,000 ĂƒĂŒ>LˆÂ?ˆâi`ĂŠ ]ʙ¯ÊV>ÂŤĂŠ

s !CCREDITED )NVESTORS

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s -INIMUM K

Call

FORRES PACIFIC PROPERTY MANAGEMENT YOUR PARTNER FOR SUCCESSFUL REAL ESTATE INVESTING PROPERTY MANAGEMENT AND CONSULTING SERVICES FOR THE LOWER MAINLAND AND FRASER VALLEY

SCOTT ETTLES DAYTIME EVENING

604 576 4407 604 724 1787

www.forrespacific.com settles210@aol.com

UĂŠPRINCE GEORGEÆÊÊ ĂŽĂŠĂƒiÂŤĂŠ>ÂŤ>Ă€ĂŒÂ“iÂ˜ĂŒĂƒĂŠÂŁĂ“Â‡ÂŁĂˆĂŠĂ•Â˜ÂˆĂŒĂƒĂŠ UĂŠSUNCOR / MCDONALDS DISP°ĂŠĂŠ {ĂŠĂƒÂˆĂŒiĂƒĂŠÂŁĂŽ]äääĂŠĂƒvĂŠĂŒÂœĂŠ{ä]äääĂŠĂƒvĂŠ

Future development, as described on Coquitlam’s OfďŹ cial Community Plan allows for a development of residential & commercial space when assembled with lot to east allowing +/- 3 stories, a total potential development of 3.5 X’s the lot size. Good future potential! Call

BILL BABCOCK 604-230-9392 Bbabcock@telus.net

vancouver.ca

Notice of Invitation to Offer For Sale: Fully Leased Office Building The Province Building 198 West Hastings Street Vancouver, B.C. Sales packages available for pick-up at: Real Estate Services Suite 300 – 515 West 10th Avenue Vancouver

Offer submission deadline: Thursday, March 22, 2012 at 4:30 pm PT FOR MORE INFORMATION: Patrick Murphy, Real Estate Services 604.873.7130

UĂŠRAMADA VALEMOUNTÊÇäĂŠĂ€ÂœÂœÂ“Ăƒ]ĂŠ>Â?Â?ĂŠ >“iÂ˜ÂˆĂŒÂˆiĂƒ]ĂŠÂ˜iĂœĂŠÂŤĂ€ÂœÂŤiĂ€ĂŒĂž]ĂŠĂƒÂ…>Ă€iĂŠĂƒ>Â?i]ĂŠĂŠ ™¯Ê >ÂŤĂŠ,>ĂŒi UĂŠWILLIAMS LAKEÆÊ*ÂœĂ€ĂŒvÂœÂ?ˆœ\ĂŠĂŽĂˆäĂŠ °ĂŠ >V i˜âˆi]ĂŠf{ää]äää]Ê£™äĂŠ °ĂŠ >V i˜âˆiĂŠ fĂ“]Çxä]äää]ĂŠ{ÇÊ >“iĂ€ÂœÂ˜ĂŠfÂŁ]ĂŽxä]äää]ĂŠxÓÇÊ-°ĂŠ >V i˜âˆiĂŠfĂ“]ĂŽxä]äää]ĂŠĂˆĂŠLĂ•ÂˆÂ?`ˆ˜}Ăƒ]ʓi`ˆ>Â˜ĂŠ ĂžÂˆiÂ?`ÊÇ°£xÂŻĂŠ ÂœĂ€iĂŠ œ˜}ĂŠĂŒiĂ€Â“ĂŠĂŒi˜>Â˜ĂŒĂƒ° UĂŠQUESNELÆÊ/ ĂŠ,>˜V…ÆÊ* ĂŠä£x‡ÓΙ‡{™Ç]ĂŠ ĂˆĂŽxĂŠ>VĂ€iĂƒĂ†ĂŠ+Ă•>ÀÀÞ]ĂŠ/ˆ“LiĂ€]ĂŠ }Ă€ÂˆVĂ•Â?ĂŒĂ•Ă€i]ĂŠ ˆÂ?Â?]ĂŠ >ĂŒĂŒÂ?i]ĂŠ ÂœĂ€ĂƒiĂƒ]ĂŠ œ“iĂŠĂ€>˜VÂ…]ĂŠÂœÂ˜ĂŠĂ€>ˆÂ?ĂŠ ĂƒÂŤĂ•Ă€ĂŠ$6,000,000

BOSTON PIZZA

Lower Mainland exciting locations available

Priced from $399,000

Buyer must be approved By Boston Pizza

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IAIN MACDONELL

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

POWELL RIVER INVESTMENT O P P O RT U N I T I E S

RE/MAX SELECT PROPERTIES

(604) 328-3929

WWW.MACDONELLS.COM

HEALTH FOOD STORE Downtown Vancouver, BC Grossing $700K. High CAP Rate Owner Operated for 30 Years Providing all health products. www.TerryYoungHomes.com. CARIBOO RANCH FOR SALE Historic 100 Year Family Owned Cattle, Forestry, Equestrian 4,633 Acres-Fully Fenced Well Cared For Close to Highway, Airport & Railway Close to Schools, Shopping, Community www.BridgeCreekRanchforsale.com Terry A Young 604-970-3808 1-800-665-1455 tayoung2011@gmail.com RE/MAX Crest Realty

CHILLIWACK AVIATION PARK UNITS FOR SALE/RENT

Multi-use Light Industrial Property

1.3 acres with 16 storage bays, ofďŹ ce, 21’x41’ shop/bay with 3 phase power. Fully fenced, easy highway access, good exposure, room for expansion, just minutes south of Powell River. $339,000

Ideal Commercial Building Site

with fantastic ocean view! Paved 33’ x 86’ lot on busy Marine Avenue among downtown restaurants, retail and service outlets. $99,900

In-Town Oceanfront Industrial Property

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

MagniďŹ cent Waterfront Acreage

FOR INFORMATION CALL: 604-793-5938

Distribution Warehouse

245 acres west sloping land approx. 2700’ waterfront; incredible panoramic views; in ALR $3,100,000

Incredible Location!

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

Ideal Agri-Business Opportunity

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

Great Investment Property

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

Aroma's Gourmet Coffee & Lunch

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

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

Corney Les

604-795-6938

RE/MAX Corney Les Realty www.morechilliwackrealestate.com

A14 Lower Mainland/Business Opportunities COMMERCIAL Automotive strip mall, Fraser Valley, Good return, excellent condition $1,350,000 LANGLEY/SURREY DEV SITES Townhouses, mixed use & comm’l. PORT MOODY Commercial strip mall VANCOUVER Hotel; sites for shop ctr., townhouses & mixed use comm’l./residential SURREY NEWISH HOTEL 100 rooms & restaurant, Major flag $8.5M LANGLEY MOTEL Major flag $2.85M

RAY LEWIS West Coast Realty LANGLEY

604-812-9733

ULTRA CONSERVATIVE PRESERVATION OF CAPITAL - 1st mortgage needed existing prime located building - City of Vancouver Condominium/ Apartment complex - 50-55% loan to value, 3-5-7 year term - Safer than a GIC’s or Bonds - 2.0+ % yield -Monthly payments - Great for seniors pension

No fees - direct from owner Robert 604-290-6538

MARCH 2012 WESTERN INVESTOR

TURN KEY MANUFACTURING * Premium Quality - Engineered Sunroom and Patio Cover Systems! * BIG Margins, Easy to Operate and Administer! * Unlimited Growth Potential * Cheap Lease in Langley or move to your existing premises? * No Evenings or Weekends. Take December off? * 1/3 the cost of setting up a new operation!

* SUNROOM RETREATS

Asset or Sale - $99,000 + Inventory Allan at 778.688.7667 allan@sunroomretreats.com

* www.sunroomretreats.com

LIQUOR STORES, PUBS, HOTELS/MOTELS

Golden, BC – 101 pads, 13 acres ...........5,900,000 North Battleford, SK – 60 pads, 10.9 ac .2,700,000 Invermere, BC – 31.48 acres, MHP site . 1,900,000

NANAIMO ROAD HOUSE & LIQUOR STORE – $1,050,000 2½ acres. Land & buildings. Asset sale. Includes 2 suites. PRICED TO SELL VENDOR FINANCING 0.A.C.

Radium, BC – 9.77 acres, Cml Hwy Frtg ....900,000 Quesnel, BC – 30 pads, 9.25 acres ...........625,000 Cherryville, BC – 25 pads, 22 acres ..........685,000 Ashcroft, BC – 8 pads, 0.64 acres ..............369,000

NEW WESTMINSTER PUB & LIQUOR STORE $2,950,000 (SHARE SALE).

Houston, BC – MH & RV Park, 40 ac+/- ....299,000

Chilliwack (Sardis) 604-302-3771 or TF: 1-888-251-2822 Fax: 1-888-804-1394 Email: hjesse@mobileparks.com

Homelife Glenayre Realty www.mobileparks.com GAS STATION – LAND & BUILDING .6 ACRE LAND. OVER 4,000 SQ FT BUILDING AND 2 ROAD FRONTAGE. FIBERGLASS TANKS. EXCELLENT GROSS & NET PROFITS $2.9 MIL PIZZA BUSINESS FRASER VALLEY - LOW LEASE $49,000 GAS STATION WITH LAND AND BUILDING (FRASER VALLEY) $1.8 MIL GAS STATION WITH LAND & BUILDING $2.8 MIL OVER 1.5 MIL IN STORE SALES. GAS: OVER 3MIL LITRES. NEW TANK AND PUMP. EXCELLENT GROSS PROFITS AND NET INCOME GAS STATION WITH LAND & BUILDING OVER 8 ACRES OF LAND. C-STORE, RESTAURANT, HOUSE. ON HWY 1 $1.19M HOUSE ON 4 ACRES ZONED FOR MOBILE HOME PARK $399,000 GAS STATION WITH LAND & BUILDING, FRASER VALLEY OVER 1/2 ACRE, C-STORE, GAS STATION, RESTAURANT & 2 BEDRM ACCOMMODATION $599,000 MORE DETAILS CALL:

s Superior Sardis Location s UNIT !PARTMENT "UILDING s 7ELL MAINTAINED LOW VACANCY s CAP RATE s 4RY YOUR OFFER

Buildings like this don’t come for sale often For more info, contact 7AYNE 4EMPLE ReMax Nyda Realty "ILL $RIESEN Homelife Glenayre Realty

SALMON ARM Gorgeous location to “work or retire”. 34 zoned acres for 75 single family & 50 duplex or 45 bare land strata lots. Geotech, zoning, earth works, engineering & site clearing done. 90 days to D.P. Shovel ready. Trades or terms considered. Invest in a growing community!

$3.9 M

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

$3,050,000

SOLD

SURREY PUB & LIQUOR STORE – Money maker. $2,000,000 SHARE SALE.

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

BARRY BOCK / DON KAYTOR 604-575-5262

604-599-9287

Fax (604) 575-2214 Email: barry_bock@telus.net HOMELIFE BENCHMARK TITUS REALTY

www.barrybock.com

SOUTH CARIBOO OLDEST WORKING GUEST RANCH IN CANADA. On the trail to the Yukon Gold Rush. On the banks of emerald Green Lake, B.C., Canada. The heart of the ranch consists of “OLD WEST” style log accommodations plus NEW main lodge. In all, 55 buildings make up the site. Turnkey operation including all ranch/ commercial equipment, 100 +/- horses/hands in place. Don’t miss this opportunity with a good bottom line. May get in with $1M down.

SOUTH SURREY 2 BRAND NEW TILT-UP CONCRETE STRATA WAREHOUSE UNITS 1724 sq. ft. each $491,482 plus 3 strata office units 467, 741, & 961 sq. ft. (contiguous) @ $350 sq. ft. Available in 30 days. Near 32nd Ave & 152nd St.

JIM YOUNG

HOMELIFE BENCHMARK REALTY GLENAYRE REALTY

Hurry!

604-538-6189 youngj@shaw.ca

www.homelifebc.com

WESTERN INVESTOR MARCH 2012 www.westerninvestor.com

Lower Mainland A15

A16 Lower Mainland www.westerninvestor.com MARCH 2012WESTERN INVESTOR INVESTING101 Joint ventures can leverage into high-priced city real estate, but caution the byword

#VZJOH XJUI B GSJFOE PS GBNJMZ eal estate has been top of mind for Vancouverites for quite a while now. After all, we live in a country, province and city that everybody wants to come to and live in. And it’s expensive. So when people want to take advantage of this city’s allure in terms of the rest of the world they think of owning and renting out real estate, having a tenant pay their mortgage and watching their investment appreciate.

3

One way of doing this is to pool your money with one or more friends to either make it happen in the first place or to purchase a more expensive (and hence more desirable and/or more profitable) property. Great idea but, if you establish a “JV� or “jointventure� partnership to do this, what are the things that you should do up front in order to ensure that all goes smoothly and everyone is happy at the end of the day (and the deal)? So, you have found a property that interests you (for example, a duplex with rental suites), and your joint-venture partners agree. Now the hard part begins, as you must decide how to share in both expenses and potential profits. The purchase can be structured as a share agreement with each member having a vote in any decisions. You also have to decide what happens if one partner wants to get out early. There may also be awkward discussions on what happens if someone can’t come up with his or her share of expenses or any subsequent funding that may be required. You will also have to decide on details such as what bank(s) and lawyer(s) to deal with and, of course, the timing and execution of the exit strategy. Any of these issues may lead to heated discussion, but it is best to get all these on the table before your money – and perhaps friendships – are at stake. There are many different ways that these

issues can be resolved but they must be dealt with right at the outset and hopefully with a consensus reached within the group You will also have to decide on such things as what accounting method(s) you will employ and whether a member of the group can transfer his or her ownership to someone else, and the manner in which that will happen. You may wish to designate one person as the “manager� and allow him/her to write cheques and disburse funds; however most financial advisers rightly advise that you specify at least two signatures on any cheques that are written over a certain dollar amount. If you distribute periodic profits you will have to decide on how they will be disbursed. You can opt to keep them in the company/group or distribute them to the partners but if you opt for the latter, how will that be done? If you have disputes (and you will) what mechanism will you use to resolve them? (That should be in writing right from the start.) You must determine what jurisdiction’s laws will apply to your agreement, whether your obligations will be several or joint (lawyers usually recommend several) and what to do if the partnership or JV becomes insolvent or if you are forced to wind it down for some other reason. The bottom line is to get a good contract or corporate agreements lawyer to draw up for you an ironclad agreement that deals with every conceivable eventuality that could arise, because it’s virtually guaranteed that at least one will.

8BUDI PVU

From a purely real estate-related perspective here are some things to look for and consider. Firstly, what kind of property are you going to invest in? Will it be commercial or residential? They are two very different animals.

Rent increases are governed by different rules in both as well. In B.C., residential rents are limited by rent controls, but not commercial. These two markets also operate in different ways from a supply-and-demand perspective.

INVESTING101

1SP GPSNB

Put together an initial pro forma on the property. Based on your research, do the numbers work? Are you assuming things you shouldn’t be assuming just because you “like� this property or really want to get going on something? Remember, in an investment you must be steely cold. Look at it with complete objectivity. Wil this venture really work or are you just trying hard to convince yourselves that it will? Are you all in agreement one way or the other or do you already have divided opinions on the efficacy of this deal? Remember, a partnership is like a marriage. You must have compatibility among the partners or you will be doomed right from the outset. Have you brought in outside objective professional advisers to obtain their opinions on the venture?

Neil Hamilton Investment advice Neil Hamilton, property adviser Target Investment real estate Strategy Buying with partners, selling for a profit Top advice Get everything in writing Best case Stronger buying power, shared profit Worst case Acrimony, insolvency and law suits

A residential lease is usually “gross,� which means that you as the owner charge the tenant one single “gross� amount each month and all expenses related to the property are yours. A commercial lease is usually “triple-net,� which means the tenant pays for the three basic operating expenses of taxes, insurance and maintenance. In this scenario the landlord charges two separate rents: the basic rent (the rent for the actual space itself) and the additional or triple-net rent, which covers the operating expenses of the property. Basic rent is generally negotiated up front on a pre-determined annual, square-foot basis over a multi-year term. The additional rent is also charged on an annual square-foot basis by the landlord, but for only one year at a time as each of the taxes, insurance and maintenance will usually change year to year (and these expenses must be justified). Rental of residential and commercial properties is generally governed by different factors. The former is basically a place to live and the latter is a place to make money from an enterprise of some sort. Therefore, the renter’s motivations for wanting that property are different.

$POUSBDU

A joint-venture partnership is a great way to multiply your buying power or simply allowa deal to come together that wouldn’t otherwise materialize if you were attempting it on your own. But thousands of partnerships have ended in failure and acrimony. The main reasons for this are that the partners a) weren’t compatible or b) a proper, ironclad agreement was never put in place right at the start to cover all eventualities. That is why it is imperative to know your partners intimately and to get a good contract lawyer (especially one that specializes in partnership and joint-venture agreements) to set up your deal. Investors who have this in place have a much better chance of success.◆

J. Neil Hamilton is a senior property adviser with Macdonald Realty Ltd. with expertise in the buying, selling and leasing of both residential and commercial properties. He is also a member of Ozzie Jurock’s Real Estate Action Group (REAG), and can be reached at 604569-1940 or neilhamilton@macrealty.com.

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

5P WJFX $BMM 3BF 'PSFTU

Fraser Valley Mobile Home Park -42 pad MHP on 5+ acres with RV storage sites and home on city services in Maple Ridge. Asking price $4,000,000 Present cap rate of approx. 5.43% with upside to 5.56%.

Alberta Mobile Home Park Great cash flow (No Rent Controls) -115 pad MHP and 21 RV sites on 17.36 acres Asking price $6,200,000 with cap rate of 9.1% with lots of upside to increase Lougheed Hwy - Deroche Commercial Building EXCELLENT HWY EXPOSURE .3 Acre corner lot Highway frontage zoned Commercial. 2400 s.f. metal clad building with 2 large bay doors and high ceilings plus small mezzanine. PRICED TO SELL Asking $295,000

PARK OWNERS

-

THINKING OF SELLING?

If you are thinking of selling , please give me a call as I have many qualified purchasers looking for mobile home parks at this time. Confidentiality observed.

Bill Summers Direct Line:

604-626-8894

Email: bsummers@telus.net

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-PXFS .BJOMBOE

CALL NOW 1-800-661-6988 www.westerninvestor.com

Waiting for that perfect home? Don’t miss it. With REW.ca Property Alerts, we’ll email you with new residential listings that match your search criteria, as soon as they come on the market. So that perfect home can be yours.

WESTERN INVESTOR MARCH 2012 www.westerninvestor.com

Lower Mainland A17

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THE WAY RADHE WORKS:

BE A THINKER. BE A CREATOR. ENJOY IT.

RADHE GUPTA President and CEO, Rohit Group of Companies

BUSINESS BANKING IS ABOUT A SHARED PERSPECTIVE. At Canadian Western Bank, we see the world the same way as our customers. As a result, we take the time to understand your business and provide banking solutions suited to your business needs. Discover insights and learn more at theworkingbank.ca.

A18 Lower Mainland/Sea to Sky/Sunshine Coast TWO COMMERCIAL BUILDINGS SIDE X SIDE

Sunshine Coast B.C. The Tuwanek Hotel

ML#V4021517 “The Dock� Sechelt Now $1,295,000 Main street, downtown location with excellent exposure in Sechelt. 2 level building with retail, store, offices and zoned for residential above. High traffic area with lots of parking. 10 tenancies in place, many long term and great cap rate. Call Terry for more info.

ML#V4024655 Main Street, Sechelt

$2,195,000

Looking for a lifestyle change?

$879,000

5 Star Boutique Waterfront Spa. 4195 sf. Luxury! 3 Oceanfront Theme Suites, 6 F/P, Private Residence, Spa Cottage, Sandy Beach, Turn-Key Business Opportunity! Owners Retiring! 10 min. to Sechelt, 40min. ferry to Vancouver.

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

TERRY & PAM BRA CKETT

www.tuwanekhotel.com

TINA KAIZER 604-741-5066 (cell) Toll free in BC 1-800-895-4313 tinak@dccnet.com www.livecoastlife.com Oceanview Realty

1-800-895-4313 terry@thebrackettgroup.com Remax Oceanview Realty SECHELT

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

MARCH 2012 WESTERN INVESTOR

SQUAMISH INVESTMENTS 98 Unit Oceanfront Development Site $2.94 mil

New Strata Office Space Dwtn Lease space available

$170k +

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

Industrial Revenue Property

$1.1 mil

18,919 SF Dev Site Dwtn Bank Corner at key intersection $1.194 mil Pub and Real Estate 4,000 sf on ½ acre, 163 seats

$699k

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

10 acre Riverfront Lots

$1.175 mil +

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

RE/MAX Sea to Sky Real Estate Squamish

FOR LEASE LANGDON PLAZA STRIP CENTER

COMMERCIAL FOR SALE – FUNCTION JUNCTION, WHISTLER s SQ FT TENANT SPACES SUBSTANTIAL COMMON AREA INC LUNCH ROOM BOARD ROOM WASHROOMS WITH EXCELLENT PARKING Listed at: $1,295,000

2669 Langdon Street ABBOTSFORD, BC Property type: Retail type: Subject space: Rate: Zoning: Building size: Heat source: Air conditioning:

s 4HIS mOOR UNIT IS A GREAT INVESTMENT OPPORTUNITY SQ FT INC FULLY CLOSED OFlCE WIRED FOR A CALL CENTRE W BATHROOM A KITCHENETTE AND ENTRANCES 4HE ND mOOR HAS CLOSED OFlCE AREAS W A KITCHENETTE COMMON BATHROOM %XTERIOR PARKING ON BUS ROUTE Reduced to: $295,000

Shopping Center Strip Center 2200 sq. ft. $15 plus NNN C5 12,891 sq. ft. ceiling units Engineered system More Information Online www.1stTeam.ca

s 7HY PAY RENT WHEN YOU CAN OWN 'ROUND mOOR UNITS AT THE END OF -ILLAR #REEK 2OAD "ASIC SHELL SPACE WITH SOME OUTSIDE STORAGE /PEN PARKING !DJACENT TO THE 7HISTLER 'ARDEN #ENTER SQ FT Listed at: $139,000

Property Overview The uses in the immediate vicinity along South Fraser Way consist predominantly of commercial and is one of Abbotsford’s main throughways. The subject property is presently developed and improved commercial zone (C5) with 10 units totalling 12,897 sq. ft. (approx). The property is L-shaped, single building in 2 sections The north section is a 1-storey structure with basement, while the south section is a 2-storey, non-basement structure and consists of 30,928 sq. ft and is generally level with ample room for parking.

COMMERCIAL FOR LEASE – WHISTLER ! RANGE OF COMMERCIAL SPACES ARE AVAILABLE TO LEASE THROUGHOUT 7HISTLER 6ILLAGE AND &UNCTION *UNCTION ,OOKING TO START UP YOUR OWN BUSINESS OR RELOCATE -ONTHLY RENT STARTING FROM PER MONTH ALL INCLUSIVE

Retail Store front Location Approx 2500 exible sq ft available. (1200+ adjoining 1300) Rare to ďŹ nd in heart of Abbotsford. Prime location for Medical ofďŹ ce and/or pharmacy. Well established building with easy accessibility and ample parking. Some Other Health Services already in the building.

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

Sam Dhaliwal 778-552-4110 sam@1stgroup.ca HomeLife Glenayre

www.1stTeam.ca

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BUY

Your hunt for the right investment could be right in the pages of the Western Investor. Every month you’ll find over $2 Billion worth of opportunities.

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

604-669-8500 1-800-661-6988

A19

WESTERN INVESTOR MARCH 2012 www.westerninvestor.com

COVER The largest development on the Island indicative of urban makeovers in B.C.’s historic capital Chinese buyers signed to register for Capital City Centre condos.

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WI STAFF WESTERN INVESTOR rmed with a multimillion-dollar initial construction budget, Victoria-based League Financial Partners launched a $1 billion mixed-use project on Victoria’s West Shore last month. Capital City Centre is not only the biggest urban development on Vancouver Island, it is also indicative of real estate makeovers being seen across the Capital Region.

Photo: Deddeda Stemler

The centre is replacing two 30-year-old malls and creating a new downtown in Colwood with a near-14-acre development that will include housing, retail and four floors of office space, at least a third of which will be sold as strata. League CEO and co-founder Adam Gant envisions the office space being snapped up by high-tech and dot-com companies – Victoria is known as startup leader – and the medical community. League’s new headquarters will also be located at the centre. London Drugs is the current anchor but Gant said negotiations are underway with two national food stores, one of which will open a 35,000-square-foot outlet. “We are getting urban-level lease rates,” Gant said, with triple-net rates north of $30 per square foot. The first phase of the project will be developed in three sub-phases over the next five years. The initial work includes a four-storey residential building over a new 35,000-squarefoot London Drugs, a five-storey office building and three additional retail buildings. The second step of the first phase will feature a 26-storey residential tower, making it the tallest building on Vancouver Island. Phase 1C will include a second 26-storey residential tower, a four-storey residential mid-rise building, the grocery anchor and additional retailers. “By the time we complete this will become the

Photo: Colliers International

"

TOP: Emanuel Arruda (L) and Adam Gant, founders and partners of League Financial Partners, have launched a billion-dollar makeover of Colwood’s downtown, the biggest – but not the only – urban renewal project in the Victoria region. INSET Microsoft will open a games centre in this refurbished old building on Fort Street in Victoria.

highest-density project in the region,” Gant said. Colwood is a good choice for a new retail venture. It is part of five communities in the West Shore that accounted for 75 per cent of all population growth in metropolitan Victoria in the past five years, according to the latest Census Canada report. Langford led the way, with its population increasing to 29,228, a 30 per cent jump since 2006. Colwood’s population reached 14,687 in 2011, climbing by 9.6 per cent, more than twice the pace of the City of Victoria, which clocked in with a 4.4 per cent rise in population. One has to watch the traffic to see the movement. The number of vehicles travelling to and from the West Shore along the Trans-Canada Highway on weekdays increased by 11 per cent between 2005 and 2010. Averaged over a year, the total numbers of vehicles reached 84,465

in 2010, according to the data from Capital Regional District, and has increased since. Capital City Centre, however, is placed close to the approved alignment of a future rapidtransit system that will connect the West Shore to downtown Victoria. The centre, starting with the estimated 500 construction workers who will be on site for years, will increase West Shore traffic, but Colwood welcomes the project and considers it an inevitable part of fast growth, according to Colwood Mayor Carol Hamilton. Gant adds that Capital City Centre will benefit from its close location to Royal Rhodes University, which has a healthy international representation among its students. Royal Rhodes has taken office space at the centre, and League was recently involved in a university-led trip to China, where Gant said 19

Victoria has seen some major urban renewal projects, most recently the Hudson mixed-use project at the old Hudson Bay Company store, Uptown Phase 1 and the Atrium, all of which are fully leased. Uptown Phase II is scheduled to be completed in 2012, delivering an additional 220,000 square feet of space, which could create some movement throughout the region. A transformation of older buildings has also seen success in the office sector. The ongoing makeovers of both 1112 Fort Street and 1019 Wharf Street are perhaps the best examples. “These capital investments have yielded substantial dividends by attracting quality tenants such as Microsoft and Elections BC,” Colliers International remarked in a recent report. Microsoft has been remodelling former government office space on the top floor at 1019 Wharf Street and 1112 Fort Street into a facility called Microsoft Studios Victoria. The tech giant has an option for more space for expansion. Staff should be moving in this year, according to Don Mattrick, president of Microsoft’s interactive entertainment division, who lives in Oak Bay. Victoria is well positioned as a game-design hub, he said. “Victoria offers proximity to world-class universities, a thriving, advanced technology industry with a highly educated and skilled workforce, located in one of Canada’s best communities to live in,” Mattrick said.

4IPU EPXO

Not all urban makeovers have such a smooth transition from the past to the future. A proposal to build a $25 million, five-storey commercial/condominium project at the foot of the Johnson Street Bridge stalled after Victoria councillors clashed over the scope of the project and how much public land should be involved.

Please see Heritage page A20

7BODPVWFS *TMBOE

VANCOUVER ISLAND COMMERCIAL www.nanaimoremaxcommercial.com

1-877-335-4380

Jay Cousins Realty

Jay Cousins jay@jaycousins.com

FOR SALE

INVESTMENT OPPORTUNITIES

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

UÊÊ ÓÊ -/, / Ê 1 /-Ê - Ê /, Ê ­ "® For Sale or for Lease. 1,425 Sq. Ft. & 1,100 Sq. Ft. space can be combined for lease. Units are on main level, air conditioning, visual exposure & Strata Corp. has non-compete clause in Bylaws. Available for immediate sale or lease possession. Ê 1 ÌÊxÊfÎx ]äääÊÊÊ1 ÌÊ{ÊfÓ ]äää UÊ 1 Ê Ê Ê "7 /"7 Ê "Ê ", Ê qÊ Main thoroughfare location has great exposure, paved lot, building has 3 bay shop, storage, 2 offices, plenty of uses permitted. Motivated owner. f{{ ]äää UÊÊ ¤Ê Ê , Ê" Ê/ ,, Ê 8*"-1, Ê ,Ê "½-Ê 1- -/Ê / ","1 , – 2 Level 4,000 Sq. Ft. building with 3,800 Sq,. Ft. showroom/warehouse, lots of parking & easy access. Industrial zoning has broad uses. 8 Leasable tenant offices/warehouse spaces show good income fÇ{ ] ää UÊ 7 Ê "7 Ê *",/Ê , Ê , Ê 1 Ê qÊ Currently used as offices & union hall, approx. 6,990 sq. ft. over 3 floors. P1 zoning allows public assembly, but could be commercially rezoned. f x]äää

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

UÊ 1 / 9Ê 6 "* /Ê - / - approved for 16 units. No DCC’s, close to downtown Nanaimo with some ocean views. Development permit in place, vendor financing available or joint venture possibilities.ÊÊ ,i`ÕVi`ÊfÎä ] ää U 1 / / / Ê 69Ê 1-/, Ê*,"* ,/9Ê – Parksville area. 6.2 Acres partially developed with new wareUÊ ",/ Ê "Ê " , Ê 6 -/ /Ê houses, new 4 unit multi-res work/live space, new office building *,"* ,/9 - Fully leased 1837 sqft commercial strata unit plus existing build to suit tenant in place on 1 acre portion w/ over 2 floors (935 sq. ft., and 902 sq. ft.). $22,000 per year net paved & security fenced area. Further 2.5 acres left to continue development plan. Potential income under current configuration income. f{£ä]äää in excess of $164,000 annually. REDUCEDÊf£] xä]äää UÊÊ ," /" ]Ê, - / Ê 6 "* /Ê- / - A 5.68 UÊÊ ÎÊ* , Ê 6 "* /Ê*"/ / Ê" Ê* , -6 É acre development site with an excellent ocean view and a short , Ê 7 Y Approx. 79 Acres, corner location. Mining walk to the waterfront. The site is gently sloping towards the permit in place for pit run, crushing, screening & washing gravel. ocean with a variety of benches for easy development. Vendor Owner has been careful to maintain character of the land. Currently financing may be available with a reasonable down payment. zoned rural residential, property could find a higher & better fÈ{ ]äää development use. fx] ää]äää

FRANK JOHNSON

JAY COUSINS

of Nanaimo

Frank Johnson frank@remaxofnanaimo.com

INVESTMENT OPPORTUNITIES

www.nanaimoremaxcommercial.com

1-877-423-0984

INVESTMENT OPPORTUNITIES

UÊ " , Ê 1 Ê EÊ Ê Ê 1 Ê Property U /, Ê "Ê *," -- " Ê " Ê 1 has theatre building with 2 levels plus fully equipped kitchen 600 sq. ft. dwelling on large 7,297 sq. ft. level lot. Layout includes 3 offices plus reception. Zoning allows multi& hall downstairs. Zoned C1 General Commercial provides tude of uses including medical, dental accounting, legal etc uses for churches, fitness studio, schools, office use, retail & f£ ] ää wholesale use. f{{ ]äää UÊ /7"Ê 6 Ê -/, / Ê 1 /Ê qÊ * , -6 Ê Service UÊ 1-Ê " , Ê 6 -/ /Ê "**",/1 /9ÊÊ Commercial zoning. Main level warehouse with 6 offices, staff 3 Unit Complex in prime tourist/business core with good exkitchen & washroom upstairs. Full A/C on 2nd level as well. Owner pansion potential. Income at market rents could offer a posis willing to lease back. fÎÓx]äää sible 7% CAP rate. fx{ ] ää UÊ £ Ê1 /Ê, 6 , ," /Ê "/ Ê" ÊÓÊ , -Ê Ê* , -6 Ê Unique rural feel to property with fourplexes, duplexes, and single UÊÊ "1 /,9Ê " 1 /9Ê-/", Ê7 / Ê ÊEÊ 1 -Ê freestanding units. Redevelopment opportunity includes existing

1 Ê , – Over 2 acres of land, ample parking, large revenue stream, owners residence, large open area, City water and storage warehouse & terrific highway exposure. Store speciala motivated seller. fÇ x]äää izes in animal feeds, garden products, groceries, produce & UÊÊ , " Ê - Ê7 / , ," /Ê " – Includes a turnkey pub/restaurant in a 1 ½ storey rustic log building. 10,000 Sq. Ft. of rooms & dining/eating area. Large deck takes in the gorgeous UÊ£{Ê1 /Ê "/ Ê7 / ÊÈÊ1 /Ê,6Ê* , Ê – 2 level manviews. Over 4.9 acres of undeveloped land available for further exager’s residence with office/reception. Outdoor pool, no deferred pansion. Info Portfolio available. f£]Ç x]äää maintenance issues, consistent highly profitable revenue shows UÊ , Ê7 / Ê 1 Ê " Ê High visibility Mid-Island location, 11% cap. One of the nicest hospitality properties in the mid-Island concrete engineered docks, steel pilings, security gate with ramps, area. f£]Ó{ ]äää direct metered 50 amp hydro capacity. Quality look and feel, no vacancies, excellent cash flow. f£]Ç x]äää UÊ ££äÊ 1 /Ê Ê -/", Ê Ê - / , on 3.63 Acres with U " Ê Ê-/", Ê /9 110 Units with 29 steel over 2 acres undeveloped & ready for commercial developcontainers offering extra rental space all on 2.5 Acre parcel. ment. High visibility, 85% capacity year round, outdoor RV & Additional rental income from residential & commercial tenboat storage as well. Great business opportunity f£]ÓÇx]äää ants. Consistent 95% occupancy. Current Appraisal estabfÓ]{ää]äää lishes asking price. U "1,/Ê", , Ê- ÊqÊ - ÊqÊx° ÎÊ , -Ê Industrial zoned land with newer 14,580 sq ft. warehouse, 4,410 sq ft. shed for storage and office building. Two level U Used books / consumer services retail – Nanaimo f {]äää topography, fenced, easy access to highway. Was lumber facility. UÊSeasonal Wreath Business – Qualicum f£Ó ]äää f£]ÎÈn]äää U Ricky’s All Day Grill Franchise – Courtenay fÓ ]äää

hardware. Inventory to be purchased separately on completion. Information Portfolio. f n]äää

BUSINESSES

JAY COUSINS

JAY COUSINS

A20 Vancouver Island

www.westerninvestor.com MARCH 2012WESTERN INVESTOR

Become part of Canada’s TOP DEBT ELIMINATION FRANCHISE ...be a professional Debt Consultant with 4 Pillars Consulting Group ‡ 3RWHQWLDO WR HDUQ $100K - $200K DQQXDO LQFRPH KHOSLQJ FOLHQWV WR DYRLG EDQNUXSWF\ DQG UHVWUXFWXUH WKHLU ¿QDQFHV ‡ 'HEW &RQVXOWDQW ORFDWLRQV DYDLODEOH WKURXJKRXW 9DQFRXYHU ,VODQG RQ D )LUVW &RPH )LUVW 6HUYHG EDVLV ‡ Turnkey business ZLWK extensive training DQG ongoing support! 'HEW &RQVXOWDQW 3URJUDP /LFHQVLQJ 7UDLQLQJ )HH ONLY $7,000 WR VWDUW WD[HV

Call Cornell 250-756-9239 cornellp@4pillars.ca www.4pillars.ca 4pillarsfranchise.ca/dc/

)&3*5"(& from A19 Reliance Properties Ltd. of Vancouver is proposing the waterfront development, which includes redevelopment of the long-derelict city-owned Wharf Street Northern Junk buildings, built in the 1860s. Most of the proposed new construction wraps around the heritage buildings on a crescent-shaped parcel of land that is currently a city-owned boulevard and parking lot. Reliance proposed building 56 residential units over the top of street-level commercial on the city-owned parcel. The development plan includes a waterfront public plaza with a stairway suitable for seating to provide access to the existing marina. A new public connection to the Victoria Harbour Pathway is also planned. The two heritage buildings were to be rehabilitated and connected with a glass atrium. Council also nixed a plan by developerMike Kelly, who wanted to renovate a Traveller’s Inn at 3025 Douglas Street into affordable housing units. Kelly planned to invest about $1.5 million for renovations to the 50-unit motel and turn it into 45 self-contained units that would range from 226 square feet to 387 square feet, but the city found it unacceptable.

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PROUDLY CANADIAN

Meanwhile, the company planning to reinvent the 101-year-old Victoria Plaza Hotel is also considering a concept that could shrink rental accommodation in Victoria to micro-size. GMC Projects wants to turn the two-storey

building on Pandora Avenue into compact, inexpensive rental suites. “The idea behind it is to try and provid e affordable accommodation within downtown and urban cores, not just in Victoria,� sai d GMC president Jordan Milne, whose company has been working with Vancouver architect Michael Katz and Victoria architect Eric Barker to create a 35-to-40-unit building that screams small and efficient. And when they say small, they mean very small: 240 square feet in a studio suite. Rent would be about $599 a month. GMC has been discussing the project with governments to determine if there may be some assistance, given the focus on affordability. “There is obviously a demand within the city,� Milne said, noting Victoria has one of Canada’ lowest apartment vacancy rates. The building is currently zoned for a variety of uses, said Andrea Hudson, senior planner of urban design for the City of Victoria. “It’s zoned CA4, which is the central area commercial office district,� she said. Tha t allows for residential use as long as there is commercial use at grade. Because it is in the downtown, there is no minimum size required for the units. At this point, the city has not seen a development application from GMC for the 769 Pandora site. The company hopes to submit a development permit application in the next three or four months, with a view to som e action on the site before the end of this year.◆ – With files from the Victoria Colonist

NANAIMO & VANCOUVER ISLAND PROPERTIES FORECLOSURE COURT ORDERED SALES 3 ACRE TOWNHOME DEV SITE Stunning ocean view up to 30 units. $995,000

DEVELOPMENT SITES & LAND 1.0 ACRE COMMERCIAL DT 11 ZONED PROPERTY With 3 separate buildings. Used formerly as Sunglow Lumber & 2nd hand store outlet. Property is assessed value over $1 million. $569,000 OCEAN VIEW DEVELOPMENT SITE 21 condos or 8 townhomes. $379,500 JUST LISTED; FANTASTIC OCEAN VIEW RM-5 Dev site, unrestricted views, overlooks cruise ship pier. Approved for 35 condos, No DCC’s. $729,000 6 ACRE DEVELOPMENT SITE Zoned RM5, 4 Phases approved for townhome & condos. Central Nanaimo. Asking $2,390,000 FINANCING AVAILABLE

NANAIMO BEST BUY! MIDRISE DEVELOPMENT SITE Located in the Downtown core. Nanaimo: Commercial or condo site. $269,000 NOW $199,000 Excellent Buy 2 ACRE COUNTRY LOT ZONED FOR 2 HOUSES Allows for Bed & Breakfast, dog kennels, country market, campgrounds. City water. $298,000

1* 8ĂŠ "/ĂŠf£Ó™]äääĂŠĂŠUĂŠ{ĂŠ* 8ĂŠ "/ĂŠf£™™]äää COUNTRY ESTATES DEVELOPMENT SITE 23 ACRES $459,000 50 ACRES, $995,000 43 ACRES $859,000 Adjoining properties, 1 mile from city limits, Zoned for 5 acre lots

DALE SHORTT

INCOME PRODUCING + REVENUE PROPERTIES

HOTELS & PUBS NORTH ISLAND HOTEL & PUB, WINE & BEER STORE 30 renovated rooms generating $8,000 monthly. $1,595,000 FULL FACILITY SUPER 8 MOTEL Central/southern Vancouver Island. High profile Location. 35 rooms, + 20 suites with leased 125 seat pub and Smitty's 120 restaurant. 1.5 acre property on Trans Canada. $3,600,000

OCEANVIEW 3-PLEX South Vancouver Island. Excellent Income. 3 separate titles. $369,000 NANAIMO DUPLEX 3 bedrooms per side, 2 separate titles. Excellent income. $424,900 5 RENTAL HOMES – All together 5 sep. adj. lots. Starting at $169,900 or all for $1,150,000. Seller will finance.

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

JUST LISTED 21 UNIT TOWNHOMES REVENUE PROPERTY ON THE GOLF COURSE. 2 & 3 bedroom units, private patios. Monthly income: over $20,000, assumable mortgage. Ideal property to hold or strata conversion. $2,875,000

DEPT BAY BEACH FRONT HOME This smaller 2 bedroom home awaits your ideas. Great year round or vacation home, swimming & beach right out off your front veranda. $649,000

12 UNIT APARTMENT BLOCK. Renovated. $8,000/monthly revenue. Financing available. $1,180,000 STRIP MALL Across the road from the beach, 10,200 sq.ft. 3 commercial spaces. 4 strata condo rental units. Monthly income over $11,000 ASKING $2,250,000

WATERFRONT CONDO TRADES WELCOME $425,000 With swimming pool and hot tub and boat moorage. 2 bedroom, 2 bathroom in Yellow Point. www.yellowpointmemoRIES COM Seller will finance with low down or take trade! Owner will take a condo in Vancouver in trade.

Bus: s Toll Free 1-800-665-8313

4RANS #ANADA (IGHWAY ,ADYSMITH " # 6 ' ! s %MAIL DALESHORTT SHAW CA

5 PLEX NANAIMO 5 meters, over $4,500 monthly revenue. Covered parking. Storage lockers. Separate meters. Asking $749,500

Ocean Pointe

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

NANAIMO RESTAURANT FOR SALE OR LEASE Land, building plus parking lot. Fully equiped. Beautifully renovated. $728,000

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Vancouver Island A21

WESTERN INVESTOR MARCH 2012 www.westerninvestor.com

,

Business Is Better On Vancouver Island

e n d

For Sale

c t 2.05 Acre Prime Development Site - North Nanaimo

$2,900,000

On Old Island Highway adjacent to Long Lake.

Light Industrial Land and Buildings - Chemainus

t 3.83 acres with 5 buildings on site.

253 Acre Development Property - Sproat Lake Area

h Commercial Land and Building - Parksville e 0.85 acre with 3,870 sq ft building on Island Highway.

$1,995,000

LANGFORD

$1,700,000

CONDO SITE APPROVED FOR UP TO 188 UNITS

$1,495,000

3.79 Acre Light Industrial Land - South Nanaimo

$1,395,000

Suitable for single or multiple users/uses and subdividable.

Strata Commercial Unit - Central Nanaimo

$ 849,000

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

y Commercial Development Property - Nanaimo r 1.2 acres with CC-1 zoning beside Nanaimo Parkway.

$ 795,000

Commercial Re-Development Property - Downtown Nanaimo

a 2 legal lots on Victoria Crescent with 4,900 sq ft building. t Lakefront Pub and Land - Lake Cowichan

$ 695,000 $

674,000

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

e Commercial Property - Alberni Highway d 1.11 acres with exceptional highway frontage.

$ 590,000

Residential Development Property - Nanaimo

$ 549,000

4.88 acres near the Nanaimo Parkway.

3.46 Acre Light Industrial Property - South Nanaimo

$ 549,000

t Court Ordered Sale - Waterfront Restaurant, Land, Building t In Maple Bay. Includes self-contained 1,604 sq ft suite. e Commercial Land and Building on Island Highway - Campbell River

Like Helping People? Women’s Weight Management, and Fitness Franchise, 2 turnkey businesses avail in a rapidly growing Industry Well established in Victoria, profitable, trained staff, vendor financing available. Well priced.

EXCELLENT LOCATION LOCATED NEXT TO COSTCO, FOUR POINTS SHERATON, HOME OUTFITTERS AND OTHER HIGH PROFILE RETAILERS

Call 403-346-6655 or email glenn@advantagecommercial.ca

2.34 ACRES OF INCREDIBLE POTENTIAL $4,399,000

COMOX EXCELLENT SITE FOR CAREHOME OR CONDO DEVELOPMENT $3,000,000 CENTRALLY LOCATED AND ADJACENT TO MAJOR BRANDS SUCH AS: SHOPPERS DRUG MART, SUBWAY, A&W

$ 470,000 Please visit our website or call for more details.

$ 450,000

Vacant 0.92 acre property.

t Commercial Land and Building Zoned DT-2 - Nanaimo

TWO PRIME LOCATIONS WITH HUGE POTENTIAL AS CAREHOME OR CONDO SITES

$ 395,000

1,395 sq ft office building in Old City Quarter.

monarkinvestments.ca

604-592-7250

Financing Available. Potential Trades.

Commercial Property Zoned COR-3 - Nanaimo

$ 325,000

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

Character Office Building - Nanaimo

$ 279,000

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

Hangar Building and Office - Campbell River Regional Airport

$ 289,000

Commercial Property Zoned COR-3 - Nanaimo

$ 260,000

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

Light Industrial Strata Unit - Nanaimo

Your Ê"Vi> vÀ ÌÊ/i>

Specializing in Unique Coastal Real Estate in British Columbia

$ 219,000

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

Call for Details

i` > ` >JLV Vi> vÀ Ì°V ÊEÊÃ i iÞ V >ÞJLV Vi> vÀ Ì°V

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

Light Industrial Strata Unit - Central Nanaimo

ED HANDJA PERSONAL REAL ESTATE CORP. and SHELLEY MCKAY

Large warehouse with appointed office space.

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

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

Offered for sale at $2,000,000 Approved for a Complex Care Facility - Ladysmith

$ 1,700,000

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

Saratoga Beach Golf Course - Black Creek

$ 1,495,000

WINTER HARBOUR MARINA & RV A diverse commercial resort operation in a premier west coast Vancouver Island fi shing destination! Includes 3 adjacent oceanfront lots, boat launch, 20 oceanfront/oceanview RV sites, a large foreshore lease, substantial standing dock and pier, protected moorage, resort lodgings and a 2bdrm cabin. An established resort business. $699,000

CAMPBELL RIVER FISHING VILLAGE 2.72 acre oceanfront and semi-oceanfront multi-residential property and existing RV business located in Campbell River on Vancouver Island. Substantial frontage on Highway 19A with unobstructed ocean views of Discovery Passage and the northern Strait of Georgia. A year-round business and a prime development location, just minutes from town. $1,699,000

CAMPBELL RIVER COMMERCIAL SPACE ‘56% Controlling Interest’ in a 2-storey 5440sqft strata title complex situated in the downtown core of Campbell River: an ideal retail and offi ce building or Performance Arts facility with 2600sqft on the main level and 2840sqft on the 2nd level. Plumbed and wired with fi bre-optics for 4 units to accommodate various types and sizes of ventures! Commercial - 1 Zoning. $495,500

OYSTER AQUACULTURE BUSINESS This is a substantial, licensed oyster aquaculture business with over 20 acres of beach and deep water lease in a high production area in Redonda Bay on West Redonda Island. There is a large inventory of farming equipment and producing stock included, plus a 1-acre low-bank oceanfront upland property with a well-built 500sqft cabin and an excellent fresh water source. $499,000

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

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

37.47 acre redevelopment property with executive style golf course.

Unique Commercial Offering - Downtown Nanaimo

$ 1,375,000

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

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

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

Business Opportunities SEWING MACHINE AND QUILTING RETAIL BUSINESS—Nanaimo

$ 180,000

FRANCHISED FAMILY RESTAURANT—Ladysmith

$ 189,000

AWARD-WINNING KITCHEN AND BATH BUSINESS—Sidney

$ 199,000

ESTABLISHED PLUMBING AND HEATING BUSINESS—Nanaimo

$ 225,000

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

$ 399,000

WHOLESALE DISTRIBUTOR—West Coast Vancouver Island

$ 549,000

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

$ 550,000

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

$ 775,000

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

$1,295,000

LIQUOR STORE IN LEASED PREMISES—South Vancouver Island

$1,500,000

PUB AND LIQUOR STORE—Coombs

$1,900,000

FRANCHISED MOVING AND STORAGE CO.—Central Vancouver Island

$2,550,000

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

Tel: 1 800 769 5757

www.dtznanaimo.com

Domestic and International Licenses, share sale.

$1,350,000

www.bcoceanfront.com

A22 Vancouver Island

www.westerninvestor.com MARCH 2012WESTERN INVESTOR

16 Unit

Salt Spring Island, BC - SEABREEZE INNE $ 3,500,000

Victoria Classic A rare opportunity to own a well maintained, purpose-built revenue building in Victoria, BC. Superb location.

$ 3,672,000

JIM RUSSELL BRANDI PLEASANTS 1 (800) 263-4753

11 Suite

HIGH GROSSING GUEST HOUSE Fully licensed Victoria Bed & Breakfast superbly located near Oak Bay Marina. Provides an additional 2 BR/ 2 Bath Owner’s suite and ample parking.

28-30 Units - Depending on Owner Usage

Jan Macpherson RE/MAX Salt Spring Call for BROCHURE DIRECT: 1-250-537-9894 www.saltspringguide.com

marketing your franchise?

$1,995,000

JIM RUSSELL DAVE McMILLAN 1 (800) 263-4753

10% cap

*Newly Refurbished Standard & Kitchenette Rooms *Proven Profitability *Irreplacable Zoning. *Immediate Cash FLow *Attractive Owner/Manager Suite

Call the

1-800-661-6988 • (604) 669-8500 • westerninvestor.com

Each office is independently owned and operated.

www.judygray.com

PROFITABLE, SUCCESSFUL, ESTABLISHED FAMILY OWNED BUSINESS specializing in take-out

PIZZA and PASTA PRODUCTS Sales increasing daily! Offered at $595,000

Fishing Charters, Kayaking charters, corporate ďŹ shing retreat are just a few of the ideas that could be implemented on this former ďŹ sh off-loading and ice making facility located in Ucluelet’s Village Square area. Bring your own ideas to this very unique property. $494,000

JUDY GRAY, CCIM 1.800.600.1718 Suite 103–1801 Bay Street, PO Box 195, Ucluelet. BC. Canada V0R 3A0 MID-ISLAND REALTY

;dg 9ZiV^aZY >c[dgbVi^dc EaZVhZ 8dciVXi/

IAIN MACDONELL

RE/MAX SELECT PROPERTIES

(604) 328-3929

WWW.MACDONELLS.COM

84 Unit Hotel “All Units Individually Strata Titled“ - Almost $1 Mill in renovations recently completed - 2.6 acres highway frontage, across from the beach - 100 person conference room, swimming pool, fitness center, liquor license, elevator - Gross revenue exceeds one million - Absentee owner, tremendous growth opportunity for “hands on ownership� Visit www.parksvilletravelodge.com for a virtual tour

Asking $4,850,000 share sale www.brianpercivalrealestate.com

Brian Percival 250-951-6372 b.percival@shaw.ca

VANCOUVER ISLAND Comox Valley UĂŠ , / É" É /ĂŠ 1-/, ĂŠĂŠ SPACES FOR LEASE fĂˆ°ääĂŠqĂŠÂŁ{°ääĂ‰ĂƒÂľĂŠvĂŒ UĂŠ ÂŁ]Ă“ääĂŠ-+ĂŠ /ĂŠÂŁn¿Ê ĂŠĂŠ°°°°°°°°°° fÂŁ{™]™ää UĂŠ /ĂŠ 1-/, ĂŠ-/, / ĂŠĂŠ ³É‡£xääĂŠ-+ĂŠ / Over 20' ceilings . fÓÇ{]™ää UĂŠĂŠ ĂŽĂŽääʳÊ-+ĂŠ /ĂŠ ĂŠ "1,/ 9ĂŠĂŠĂŠ ĂŠRetail/OfďŹ ce/Warehouse (Strata)ĂŠ°fĂŽĂ“x]äää UĂŠ ĂŠ+1 /9ĂŠ-/, / ĂŠ" ÊʇÊÓ]{ääĂŠĂƒÂľĂŠvĂŒĂŠ ........................................................ fx™™]™ää UĂŠ°Ă‡ÂŁĂŠ ĂŠ "7ĂŠ, - ĂŠ */ĂŠ- / ĂŠ°°°°°°°°fnxä]äää UĂŠ ĂŽ]äääĂŠ-+ĂŠ /ĂŠ, / ĂŠ 1 ĂŠ On ½ ac, Courtenay ..............was f™Óx]äää UĂŠ ĂˆĂŠ¤ĂŠ>VĂŠÂœvĂŠ Ă€iiÂ˜Â…ÂœĂ•ĂƒiĂƒ on 6.5 ac Campbell RiverĂŠĂŠ°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° fÂŁ]xää]äääĂŠ

Rob Samsom

AACI CCIM FRI PERSONAL REAL ESTATE CORPORATION

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

RE/MAX Ocean Pacific Realty

26"-*$6. 1"3,47*--& 7"/$067&3 *4- .*/* 4503"(& . 6/*54 Â… 42 '5 )0.& 300. 50 "%% "/05)&3 03 40 6/*54 )*()8": &910463&

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JUDY GRAY, CCIM 1.800.600.1718 Suite 103–1801 Bay Street, PO Box 195, Ucluelet. BC. MID-ISLAND REALTY Canada V0R 3A0

#1 MARKET, ASSET SALE $745,000 Convenience store, great location. Specialty foods, food safe kitchen. Lease space for additional revenue available.

OCEANFRONT COMMERCIAL DEVELOPMENT SITE $750,000 Great location, high trafďŹ c area. Next to public beach access, CD2A 1.58 Ac. Arch & Enviro Assess on ďŹ le.

VILLAGE SQUARE $339,000 1.12 Ac. Site next to Ucluelet’s new aquarium & nearly complete Whiskey Landing Resort. Ucluelet Inlet views. Village Square core.

NIGHTLY RENTAL VACATION COTTAGE $259,000 2 bdrm, 3 storey, waterfront cabin Furnished, turn key property Motivated seller‌make an offer.

www.judygray.com

Each office is independently owned and operated.

A23

WESTERN INVESTOR MARCH 2012 www.westerninvestor.com

%0/& %&"-4 one Deals is our monthly feature highlighting some of the major real estate transactions completed recently in Western Canada’s vibrant commercial real estate market.

%

Our readers report on new commercial real estate deals across Western Canada Deal: 74-room Howard Johnson full-service hotel, Whitecourt, under a judicial sale to a Vancouver buyer. Price: $1.65 million. Deal: 20,000-square-foot warehouse building in Whitecourt, fully leased, on 10.7 acres. Price: $3.4 million.

From: Rose Country Fund, Vancouver, and Oil Sands Realty, Fort McMurray. Agent Reginald Hetu reports the following transaction: Deal: Rose Country has purchased a 15,600square-foot, R3-zoned development site on Main Street, Fort McMurray, from a private vendor. Rose Garden plans a 21-unit executive condominium project. Price: $1.5 million.

light industrial/office, on West 8th Avenue, Vancouver. Sold toAeon Stone & Tile. Price: $2.66 million. Deal: 9,076-square-foot office/warehouse building on 9,052-square-foot lot, West 5th Avenue, Vancouver. Sold to Digitel Film Group. Price: $3.54 million.

Photo: DTZ Barnicke

Photo: Frontline Real Estate Services

Photo: DTZ Barnicke

From: Frontline Real Estate Services , Surrey. Frontline agents Garth White and Recently completed a major commercial Jordan MacDonald report the following real estate deal? Send details for a free report here to: wieditor@biv.com. sale: Deal: Two commercial buildings totalling 9,076-square-foot industrial/office build28,000 square feet on 134A Avenue, Surrey. ing, West 5th Avenue, Vancouver, sold for Price: $3.25 million. $3.54 million. From: NAI Commercial (Calgary) Ltd.NAI vendor agent Jim Courtenay with Strategic From: Shindico Realty Inc., Winnipeg. Realty Services Inc. agent Murray Bauer Shindico agent John Pearson reports the and Sutton-Group-Canwest agent Chris Tarves report the following sale: following sale: Deal: 42,714-square-foot office building, Deal: 14,887-square-foot building on a 1.21Portage Avenue, Winnipeg. Includes 60-stall acre site on 32nd Street NE, Calgary. Price: parking lot on Wall Street. Price: $4.23 mil- $2.59 million. lion. From: DTZ Barnicke, Vancouver. DTZ From: Re/Max Advantage, Whitecourt, agent Conor Finucane reports the follow- 8,500-square-foot light-industrial/office Alberta. Re/Max agent Leo Zelinski reports ing sales: building, West 8th Avenue, Vancouver, sold Two commercial buildings on 134A Street, Surrey, sold for $3.25 million. the following sales: Deal: 8,500-square-foot building, zoned for $2.66 million.

7BODPVWFS *TMBOE #VTJOFTT 0QQPSUVOJUJFT

1 acre development site, zoned for up to 36 units. Ocean and mountain views from upper fl oors.$499,000 MLS 326909 11.9 acre development site with ocean & mountain views from the upper cleared portion. Some previous work for servicing and subdivision PLA has been done. $1,499,000 MLS 326908 0.31 acre lot with zoning for a multiplex and up to 10 residential units. DCC credit available, commercial rezoning possible. $199,800 MLS 322495 1 acre site with outstanding ocean views. Zoning allows up to 15M heights and ability to build over 90,000 sq.ft. commercial or residential. Existing revenue $6000/month. $899,800 MLS 319513 1 acre property with 1080 sq.ft. rancher. RM-1 medium density zoning with probability for up to 22 units. City services and reasonable off site costs. $359,800 MLS 326979

STEPHEN GRANT PERSONAL REAL ESTATE CORP

www.StephenGrant.bc.ca TOLL FREE

1-888-286-1932 ADVANCE REALTY

30 mins from Greater Victoria 32 sites 5 acres +/Net $145,000 Price: $2.4M

UÊ UÊ UÊ UÊ

ÓäääÊõÊvÌÊV Ûi i ViÊÃÌ Ài *>Þ >Ì Ì iÊ«Õ « } ÌiÀ Ê i>ÃiÊ ÊLÕ ` } > ÀÊ ÊV °ÊÃÕ«« ÞÊ>}Àii i Ì

$725,000Êplus inventory

Great location. Contact owner at email:

talltimbermhp@live.com

B&B

GAS STATION For Sale in Nanaimo BC

>

250.668.3324ÊÊ

ÀÊi > gasstationforsale1@gmail.com

PARKSVILLE, B.C.

B&B or self-contained Furnished Vacation suite. Lower part of a large home. Upper level 2000 sq ft, lower level 1500 sq ft. Family area contains 4 bedrooms, suite has two bedrooms. Furnishings in suite high quality, & has washer and dryer. At seaside. Upper level has fantastic view..

$779,000 BY OWNER Photos available.

250 937 9678 or allamar40@shaw.ca

NANAIMO | VANCOUVER ISLAND DEVELOPMENT AND INVESTMENT OPPORTUNITIES

www.westerninvestor.com

Lease space from 1000 – 1500 sq. ft for $10/sq. ft.. Great location with plenty of parking. MLS 323082

FO R SALE Duncan BC

1-800-661-6988

998 sq. ft. lease space located in building with other service professionals. $12/sq. ft. Renovation allowance to be negotiated. MLS 327750

Mobile Home Park

Subscribe

Campbell River, B.C.

DEVELOPMENT OPPORTUNITY WITH OCEAN AND CITY VIEWS Upscale development in the University area for 10 residential lots and 26 luxury townhomes. This development project has all the necessary plans, reports and approvals in place. Development Permit for construction can commence within a short period of time. CALL DARWIN NEW!! BARSBY ON THE MILLSTONE A great development opportunity for a well designed 58 unit Condominium Project on 1.14 acres of land on the Millstone River. Located within the no DCC zone of the City of Nanaimo, this project offers an immediate connection to the E&N trail as well as the miles of seawall on the Harbour only 3 blocks away. Development Permit ready. ASKING 1.55 M, CALL DARWIN MULTI – USE DEVELOPMENT SITE One of the remaining development sites within the main service corridor of the Chase River neighbourhood – South Nanaimo. With approx. 4.3 acres of usable lands and excellent access directly off Hwy 19A via traffic light. This site has excellent potential for a wide use of mixed Commercial-Residential developments. 2.8M, CALL DARWIN

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

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

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

Darwin Mahlum Robert Borden 250.760.1066

Information brochure available.

A24

www.westerninvestor.com MARCH 2012WESTERN INVESTOR

COMMERCIAL

RE/MAX TREELAND REALTY

RE/MAX LITTLE OAK REALTY

RE/MAX BOB PLOWRIGHT REALTY

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

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

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

COMMERCIAL BUYER/TENANT REPRESENTATION

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

DEVELOPMENT SITES

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

RACT IN CONT

develop 2 downhill Cul-De-Sac residential lots in Montecito area of Burnaby! 11,000 sq. ft. lots will take 4700 sq. ft. houses. For Developer/Builder only. $650,000 CLS # V4029426 – Call or email David RETAIL LEASE SPACE

Two retail storefronts of approximately 975 sq ft each: take one or both. Prime retail exposure in a high traffic corridor on the border of Coquitlam and PoCo. $18.00 Sf. Close to Coquitlam Centre. Cls # v4029643 – Call or email David

INDUSTRIAL WAREHOUSES/OFFICES

COQUITLAM #100 42 Fawcett Rd.

SOLD

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

DAVID KEARNEYCCIM

www.davidkearney.com dkearney@remax.net

604-942-0606 Toll Free:

1-888-942-0606

EMAIL ME FOR THE FULL ARTICLE AND TO DISCOVER YOUR TYPE.

IDEAL INVESTMENT PROPERTY xPerfect for new or small investors xCurrently leased by the BC Liquor Control Board as a liquor store since 1996 xLocated in downtown Agassiz xEasy to own, easy to manage

SALE $519,900 16 SUITE MULTI FAMILY DEVELOPMENT SITE xOffered at CAP RATE of 5.69% xComprised of 2 separate titles .78 acres xFuture Development Site xIn City’s Official Community Plan 28 to 54 units per acre, 4 storey residential

UĂŠ ÂœĂ€ĂŒĂŠ-ĂŒĂŠ œ…˜]ĂŠ Â˜Ă›iĂƒĂŒÂ“iÂ˜ĂŒĂŠÂœÂŤÂŤÂœĂ€ĂŒĂ•Â˜ÂˆĂŒĂž°ĂŠ7iÂ?Â?ĂŠ ÂŽiÂŤĂŒĂŠĂ•ÂŤĂŠÂ?ˆ}Â…ĂŒĂŠ ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ĂŠLĂ•ÂˆÂ?`ˆ˜}ĂŠÂˆÂ˜ĂŠ*Ă€ÂœĂƒÂŤiVĂŒĂŠ *>ÀŽÊVÂ?ÂœĂƒiĂŠĂŒÂœĂŠ ˆ}Â…Ăœ>Ăž°ĂŠĂŠxĂŠL>ĂžĂƒ]ĂŠÂœvvˆViĂƒĂŠÂœÂ˜ĂŠ “>ÂˆÂ˜ĂŠ>˜`ĂŠ>LÂœĂ›iĂŠĂœÂˆĂŒÂ…ĂŠÂ?Ă•Â˜VÂ…ĂŠĂ€ÂœÂœÂ“°ĂŠ i˜Vi`ĂŠ Ăž>Ă€`ĂŠĂœÂˆĂŒÂ…ĂŠĂƒĂŒÂœĂ€>}iĂŠĂƒÂ…i`Ăƒ°ĂŠ$1.1 Million. UĂŠ->ÞÊ}œœ`LĂžiĂŠĂŒÂœĂŠĂžÂœĂ•Ă€ĂŠLÂœĂƒĂƒ]ĂŠ>˜`ĂŠVœ“iĂŠÂœĂœÂ˜ĂŠ ĂŒÂ…ÂˆĂƒĂŠĂŒĂ•Ă€Â˜ÂŽiÞÊLˆâĂŠÂˆÂ˜ĂŠ LLÂœĂŒĂƒvÂœĂ€`°ĂŠ Ă•ĂŒÂœĂŠ Âœ`ÞÊ LˆâĂŠvÂœĂ€ĂŠĂƒ>Â?i°ĂŠ$159,000. UĂŠ{äääĂŠĂƒÂľĂŠvĂŒĂŠ ˆ}Â…ĂŒĂŠ ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ĂŠÂ˜iĂœiÀÊ­ĂŠĂ“ääǎÊÊ LĂ•ÂˆÂ?`ˆ˜}ĂŠÂˆÂ˜ĂŠ >ĂœĂƒÂœÂ˜ĂŠ Ă€iiÂŽ]ĂŠ ° UĂŠĂŽĂ“ĂŠ1Â˜ÂˆĂŒĂŠĂŒÂœĂœÂ˜Â…ÂœÂ“iĂŠVÂœÂ“ÂŤÂ?iĂ?ĂŠÂˆÂ˜ĂŠ >ĂœĂƒÂœÂ˜ĂŠ

Ă€iiÂŽĂŠ °ĂŠ­ĂŠxäʎ“ÊvĂ€ÂœÂ“ĂŠ ÂœĂ€ĂŒĂŠ-ĂŒĂŠ ÂœÂ…Â˜ĂŠ>˜`ĂŠ /ՓLÂ?iĂ€ĂŠĂ€Âˆ`}i°Ž

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

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

RE/MAX S ABRE REALTY

RE/MAX LITTLE OAK REALTY

768 ACRE 5 TITLE CATTLE RANCH AND PLAYGROUND

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

70 x 80 Barn xAlso available w/separate

Storage

title 7.5 acre land

SALE - FARM: $795,000 LAND: $419,000

SALE $579,900

BUSINESS FOR SALE

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

xSandwich Tree Franchise xEasily run by couple or

family xThis business makes

money

building

SALE $59,900

SALE $598,800

FORECLOSURE PROPERTY

HIGH PROFILE RETAIL

xGood street exposure xPlenty of City Parking xRenovated in 2007 x11,293 sq. ft. lot

SPECTACULAR VIEW 36.4 ACRE PROPERTY – ABBOTSFORD "˜iĂŠÂœvĂŠ>ĂŠÂŽÂˆÂ˜`ĂŠ>ĂœiĂƒÂœÂ“iĂŠĂ›ÂˆiĂœ]ĂŠÂœĂ›iĂ€Â?œœŽˆ˜}ĂŠ Ă€>ĂƒiĂ€ĂŠĂ€ÂˆĂ›iÀÊEĂŠ6>Â?Â?iÞÊv>Ă€Â“Ăƒ°ĂŠ `i>Â?ĂŠLĂ•ÂˆÂ?`ˆ˜}ĂŠĂƒÂˆĂŒiĂŠvÂœĂ€ĂŠĂŒÂ…iĂŠiĂ?VÂ?Ă•ĂƒÂˆĂ›iĂŠ VÂœĂ•Â˜ĂŒĂ€ĂžĂŠiĂƒĂŒ>ĂŒi°ĂŠ Ă•Â?Â?ĂžĂŠĂ•Ăƒi>LÂ?iĂŠv>À“Â?>˜`ĂŠvÂœĂ€ĂŠLiĂ€Ă€ÂˆiĂƒĂŠÂœĂ€ĂŠÂ?ÂˆĂ›iĂƒĂŒÂœVÂŽ°ĂŠ $2,188,000

LIVE/WORK PROPERTY

x14.35 Acres of land xIncludes 6 Bdrm Home +

rayy@remax.net www.rayyenkana.com (listing details) Follow me on Twitter @rayyenkana

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

FOR SALE IN CHILLIWACK

THE SPENDER, THE SAVER, THE INTELLIGENT INVESTOR‌

BURNABY Rare opportunity to buy, subdivide and

RE/MAX SABRE REALTY GROUP

x 23,756 sq. ft. lot located on corner intersection xPartially finished building xDevelop and realize profit

SALE $695,000

SALE $690,000

AIRPORT HANGAR W/OFFICE

LIVE/WORK OPPORTUNITY

x 2 kitchens, 2 washrooms,

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

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

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Excellent value! Offered at $960,000 Call or email roy@mufford.com for additional pictures.

CALL ROY

MUFFORD 604-533-3491

SALE $324,900

LIVE/WORK OPPORTUNITY

BUSINESS & PROPERTY xLiquor Store & Pub, on 1

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

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

heat and individual meters

SALE $689,900

land, equipment and building

SALE $599,900

FOR LEASE IN CHILLIWACK Lease From $8/sq ft

RE/MAX TREELAND

Lease From $12/sq ft

Lease From $6/sq ft

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

61.85 ACRES - FRASER VALLEY ÂŁĂŠ<œ˜ˆ˜}]ĂŠĂ“x{Ă‡ĂŠĂƒ¾°ĂŠvĂŒĂŠ ÂœĂ•Ăƒi]ĂŠĂƒiVœ˜`ĂŠ`ĂœiÂ?Â?ˆ˜}ĂŠ>Â?Â?ÂœĂœi`]ĂŠĂŽä½8ÂŁÂŁ{½ĂŠ-Â…ÂœÂŤĂŠÂŁ{ʟÊ`ÂœÂœĂ€Ăƒ]ĂŠ{ääĂŠ Â“ÂŤĂŠÂŤÂœĂœiĂ€]ĂŠ ĂŽĂŠÂŤÂ…>ĂƒiĂŠ>Ă›>ˆÂ?>LÂ?i]ĂŠVÂˆĂŒĂžĂŠĂœ>ĂŒiÀʍÂ?Ă•ĂƒĂŠĂœ>ĂŒiÀÊÂ?ˆViÂ˜ĂƒiĂŠvÂœĂ€ĂŠÂˆĂ€Ă€Âˆ}>ĂŒÂˆÂœÂ˜ ]ĂŠ}œœ`ĂŠvÂ?>ĂŒĂŠÂ?>˜`ĂŠĂŽĂŠ >Ă€Â˜ĂƒĂŠĂ‡Ă“½8ÂŁĂˆä½]ĂŠ xä½8ÂŁÂŁx½]ĂŠĂˆÂ™½8™Ç½ĂŠÂŤÂ?Ă•ĂƒĂŠÂœĂŒÂ…iÀÊLĂ•ÂˆÂ?`ˆ˜}Ăƒ

Great buy at $2,400,000

DAVE ABBOTT1-888-296-8060 dave@fraservalleysales.com

Lease from $10$12/sq ft xNear Courthouse/City

Lease $9-$10/ sq ft

Lease $9/sq ft

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

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

Bob Plowright RE/MAX Bob Plowright Realty CHILLIWACK, BC RE/MAX 2000

SUMMERLAND 57 ACRES 4,800 sq. ft. superior craftsmanship home.

$1,600,000 KEITH SETTER

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

604-533-3491

1-800-830-7175 - 604-858-7179 bob@bobplowright.com www.bobplowright.com

OFFICE FOR SALE

Langley, BC #104-6351 197th Street. A rare opportunity to own a 1446 sq.ft. office in a Prime Langley location, the ‘Willowbrook Professional CenterĂŽ. The office has two entrances and parking at both front and rear of building. Office should lease out between $17-$20 / sq ft. Immediate Possession.

RE/MAX TREELAND

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