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

10 Publications Mail Agreement 40069240

www.naicommercial.ca

60358 1 829 1

COMMERCIAL REAL ESTATE, FRANCHISES AND BUSINESS OPPORTUNITIES

Commercial Real Estate Services, Worldwide.

CORNER DEVELOpMENT OR HOLDING SITE

FOR SALE 1042 sq ft warehouse Abbotsford $188,700 3300 sq ft retail strata White Rock $990,000 2628 sq ft warehouse South Surrey $460,000

FOR LEASE

19633 sf site with 4 buildings, 7 tenants + 87K gross income. Potential 4 storey commercial + residential. In revitalized area of New Westminster. Priced below assessment $1,790,000 hIGh expOSure reTAIL $12 t NeT Over 100 ft of store frontage on heavy traffic corridor close to Braid Skytrain in redeveloping Mallardville, West Coquitlam. Lease sizes 4690 sqft or less.

NeW COMMerCIAL STrATA

Burnaby - 570sf 700sf 1100sf available now!! New Westminster 720sf avail 2013. $320,000

SuITABLe 4 OWNer OperATOr

$2,350,000

• 13240 sf rentable • Fenced parking lot • 16009sf c-4 lot • Excellent condition • Small + large tenants • High traffic location

don ellis, ri 604-691-6668 donellis@naicommercial.ca

3029 TOLMIE ROAD ABBOTSFORD

20,000 sq ft warehouse Abbotsford $7.00 sq ft. 2,500 sq ft warehouse Abbotsford $1,900 mo. 10,000 sq ft retail & office Chilliwack $10.00 sq ft. $200,000 $250,000 $125,000

BrUce sheldon 604-534-7974 bruce@naicommercial.ca

sash sasidharan 604-691-6637 sash@naicommercial.ca

• Up to 22+ Acres Total • Owner will subdivide to suit • Full Highway Frontage ASKING: Contact Listing Broker KEN KIERS*

604-534-7974 1-800-890-9855 kiers@naicommercial.ca *personal real estate Corp.

MERRITT, BC oppoRTunITIEs

GREAT VALuE HALF ACRE C-3 SERVICE COMMERCIAL LOT

3 LIGHT INDuSTRIAL LOTS chris langhaUg

vancouver • LOWER MAINLAND • vancouver island section

$4.29 october 2012 Vol. 27/issue 10

NORTHERN JOB MAKERS Doug Bloom opens Spectra gas plant in Dawson Creek; northern projects call out for thousands of workers 8

• 53 Unit Townhouse Site • 4.1 Ac. R3 M-F zoning • Services at street • Asking $699,000 • New Development Coming Nearby • Close to Wal-Mart • Only $239K Trades ? • 0.43 acres each • Amazing price $69,900 ea.

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

MuST SELL!!!!! INDuSTRIAL BuILDING FREE STANDING – LANGLEY

5349-273a Street, LangLey, BC

• 20.03 acres • A2 Zoning • Currently used as a potato farm • Property contains a house + barn • Price: Contact Broker $1,600,000

Adjacent to future FLYING J Truckstop and Subway

• Industrial or Commercial uses

BUSINESSES Hair salon & Spa South Surrey Landscaping Company Delta Scooter Sales & Repair Langley

Commercial/Industrial Land Highway 1 Access and Exposure

• 15,376 sq.ft. Warehouse/ With some main floor offices • 1.2 Acres Paved lot - Fenced • 7 year old building – excellent condition • Ceiling height 18’ clear under joists • Fully sprinklered • Finished offices, washrooms & mezzanine • Heavy Power, Fenced and secure yard • Extra Yard area – Rare!! • $2,260,000

don & angie Macdonald

FOR SALE – COMMERCIAL pROpERTY LANGLEY, BC

• Frontage on Fraser Highway • Zoned C-3 – uses include Dealerships, Home improvement centre, etc. • Re-development to Multi-Family, Senior’s complex • Total of 2.57 +/- acres – 3 separate titles • Property includes 3 service bays and parts store • Secured lot • Sold with or without business • $3,500,000

604-534-7974 or 1-800-890-9855

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

EXECUTIVE GOLFER’S RETREAT at SEMIAHMOO - $1,195,000 New custom dream home w/nearly 4700 s.f. & quality high end appointments. 3 suites /detached gu 24 HOTELS TURNING HOT 6 WESTERN PERSPECTIVE 19 PIPELINE OPTIONS full bath 25 DONE DEALS 18 NWT DIAMOND PLAY Northern and eastern options Spectacular one a kind corner location bordering the #1 fairway & #18 hole, across from clubhou 27 B.C. REPORT floated if Gateway bid nixed 21 MOVING TO SURREY

executive golfer’s retreat at semiahmoo $1,195,000

• New custom dream home w/nearly 4700 s.f. & quality high end appointments. 3 suites /detached guest Casita w/full bath • Spectacular one of a kind corner location bordering the #1 fairway & #18 hole, across from clubhouse Call Mike (604) 288-7473 www.copacrealestate.com

A2 Lower Mainland riverfront industrial units from 7,955 sf

• Direct river views; superb • Rear dock & grade loading (165 ft between buildings) • Unique opportunity on north side of Fraser River - Completion Spring 2013 rick eastman* bart vanstaalduinen*

for sale - lincoln centre 3030 LINCOLN ROAD, COQUITLAM

• 16,600 sf | 100% leased | 7 tenants • 10 office and retail strata lots • Located within a block of the Evergreen Line Skytrain Station • $5,999,000

investment opportunity 1993 RIVERSIDE AND 34252 & 34314 MARSHALL ROAD, ABBOTSFORD

• Retail investment opportunity • Three buildings totalling 43,283 sf on 2.87 acres of land • Opportunity to build approx. 9,000 sf additional office/retail space

www.westerninvestor.com OCTOBER 2012 WESTERN INVESTOR for sale - west side gas station on c-2 site

for sale - high exposure corner lot

for sale - high profile corner property

1010 W. KING EDWARD AVE,VANCOUVER

2221 QUINN STREET, PRINCE GEORGE

14377 64TH AVENUE, SURREy

• Holding income with underlying land value • 11,310 sf C-2 corner site • Lease to Husky Oil up for renewal in 2013 • Asking Price $4,750,000

• 11,050 sf office/warehouse on 1.6 acres • Leased to DHL Canada • 7 dock and 13 grade loading doors • 19’ clear ceilings • Asking $1,900,000

hudge parmar* | burton van alstine*

brett aura

bill randall*

philip cheng

vancouver development site

vancouver’s premier sports bar and pub on granville

multi-family residential development site

2106 MAIN STREET, VANCOUVER

1163 GRANVILLE STREET, VANCOUVER

1150 BAILEy STREET, SQUAMISH

2001 INDUSTRIAL WAy, PRINCE GEORGE

• Corner of Main and 5th Avenue • Lot size 8,718 sf (may be combined with neighbouring site) • 6,600 sf building (holding income/demo clause) • Price $3,800,000

• Investment opportunity on an operating business • Currently seats 200 (soon to be 319 seats) • 5,420 sf on the main floor, plus office space below • Pricing available upon request to qualified buyers

• 65 unit opportunity • Active development permit • Asking $1,995,000

craig haziza*** | craig ballantyne*

craig haziza***

phil hearn | nic green

bill randall* | noah freedman

corner property along kingsway corridor

for sale - large bay strata warehouse

downtown victoria office building for sale

saanichton industrial property for sale

1295-1299 KINGSWAy,VANCOUVER

UNIT 106 - 2455 192ND STREET, SURREy

838 FORT STREET,VICTORIA

6701 OLDFIELD ROAD, SAANICHTON

• 1 block from King Edward Village • Approximately 1,600 sf main floor and 1,600 sf second floor • Main floor leased; second floor currently vacant • Perfect for owner/user kyle wilson | craig haziza***

for sale - 61 room hotel with restaurant LOUGHEED HIGHWAy, MAPLE RIDGE

• All rooms and lobby newly renovated • 5 year lease to the Pantry Restaurant • Pub space with liquor license included • New Price $4,500,000

• 12,872 sf warehouse built in 2011 • 1 grade and 2 dock loading doors • 26’ clear ceiling height • 600V/200Amp electrical service • Price $1,675,000 kevin volz* | andrew green* jot mattu

• Ideal for an owner/user as the main and 3rd floor are currently vacant • Approximately 18,000 sf building & basement • Excellent street presence • Price $4,500,000

jon buchanan call 250-410-3003

for sale/lease

for sale

15 year sale lease back

1353 EAST PENDER STREET, VANCOUVER

9321 96TH STREET, FORT ST. jOHN

613 COLUMBIA STREET, NEW WESTMINSTER

• Former food manufacturing facility • 23,300 sf building • 27,437 sf lot (225’ frontage) • Fully sprinklered, floor drains, heavy 3 phase power greg miles | chris newton matt maclean*

full vancouver city block for sale

freestanding building in north burnaby

1909 FRANKLIN & 200 VICTORIA DRIVE

4622 HASTINGS STREET, BURNABy

• 3,200 sf single tenant building • Currently tenanted on a month to month basis • Great opportunity for owner/occupier or investor • Asking Price $1,085,000

• Shadow anchored by Sobey’s • Stabilized NOI $184,643 • 7.4% CAP - 12% cash on cash (LTV: 75%) • Asking Price $2,500,000

for sale/lease 21755 LOUGHEED HIGHWAy, MAPLE RIDGE

• Excellent exposure on Lougheed Highway • High quality design and construction • New building partially leased to liquor store • Price $3,050,000 brett aura | craig ballantyne*

solid investment great corner 1613 BOWEN ROAD, NANAIMO

• AAA covenant • New lease • NOI $96,600 • Price $1,757,000

for lease/sale

garfinkels night club

two-tenant property

2835 DOUGLAS STREET, VICTORIA

1 - 4308 MAIN STREET, WHISTLER

2305 48TH AVENUE,VERNON

• Long term national tenant • $312,000 annual income • Up to 15,000 sf warehouse space available

for sale - rare m-7 (salvage) industrial zoning site

for sale mission square centre

for sale - 0.78 acre flexible use development site

23360 FRASER HIGHWAy, LANGLEy

MISSION

FRASER HWy & 200TH STREET, LANGLEy

bill randall* | brett aura

bill randall*

eric walker

burton van alstine* | hudge parmar* anne tanner

bill hobbs*

• 22,300 sf on 6.97 acres • Level and graded corner lot • Long term lease, strong tenant • Rail serviced • Asking Price $2,300,000

andrew laurie | max zessel

alastair fergusson sean ungemach**

• Retail Centre on Lougheed Highway • Two buildings totalling 13,732 sf • Large 40,000 sf site • Asking Price $3,850,000

• NOI (year 1) $541,032 escalating to (year 15) $644,014 • Tenant - West Coast College of Massage Therapy - 5 colleges across Canada • Asking $9,870,000

for sale - prince george

eric walker

robert stokes | boe iravani

• 3.2 acres with prime exposure • Fully gravelled and fenced • 4,480 sf Quonset Hut; 3,600 sf Shop; 1,200 sf House • Environmental Phase I and II complete

• Approximately 1,000 sf of office space • 8,000 sf warehouse + mezzanine, yard and parking • 2 grade level bay doors • Price $1,800,000

anne tanner | jon buchanan call 250-410-3000

brett aura | chris driver* don duncan*

• One block north of East Hastings Street • Minutes away from Downtown Vancouver • 2.31 acres | 100,856 sf • Call listing agents for the asking price

• 3 retail / 1 residential / 1 office units • Built in 2009; Lots of parking • Near Sullivan Heights High School and Bell Centre • Asking $2,200,000

• Located at the edge of downtown Langley with convenient access to the major traffic arteries in the area • Could accommodate an approx. 5,000 sf building • Asking price just reduced to $1,250,000

• Landmark investment opportunity • 7,035 sf strata unit with street-front access • Strong long-term tenant • Pricing available upon request nic green | phil hearn

eric walker

for sale

jameson house offices for sale/lease

32860 MISSION WAy, MISSION

• 43,000 sf industrial building on 2.45 acres • Excellent access to Lougheed Highway, Highway 11 and the Mission Bridge • Reduced Sale Price $3,050,000

mike hardy | john bentley

cushmanwakefield.com | 604-683-3111 *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. the information contained herein was oBtained from soUrces which we deem reliaBle, and while thoUght to Be correct, is not gUaranteed By cUshman & wakefield.

• Easy to manage • Tenants: Speedy Glass and ALTECH Auto • NOI $57,674 • Price $1,065,000

bill randall*

VANCOUVER

• Prime location in the heart of the financial district • New construction completed in 2011 • ‘AAA’ quality office space on 6th & 7th floors • Fully automated underground parking garage mark trepp* | boe iravani

contents october 2012

VancouVer • lower mainland • VancouVer island section

FEATURES 8 ON THE COVER North begging for workers

On the cover Doug Bloom, president of Spectra Energy, opens a new gasprocessing plant in Dawson Creek: jobs, jobs, jobs Photo: Spectra Energy Transmission West

spECiaL sECTiON • a14 LIFESTYLE PROPERTIES

Thousands of high-pay jobs open in B.C.’s boom region

ADVERTISING DIRECTORy

18 Territorial imperative: Quicker approvals

N.W.T. rich in resources but slow in approving developers

2–23 LOwER maiNLaNd 9-10 sERViCEs 22 sEa-TO-sky/suNsHiNE COasT REgiON

19 Where oil will flow if Gateway a no go

Northern and eastern routes could be viable options

21 Business move from Vancouver to Surrey

23–27 VaNCOuVER isLaNd

Nicer space with lower lease rates among the lures

MORE OPPORTuNITIES …

COLUMNS

• iNTERiOR b.C. • aLbERTa • OTHER pROViNCEs • fRaNCHisEs … sEE sECTiON b

6 WESTERN PERSPECTIVE 25 DONE DEALS 27 WHAT’S HAPPENING IN B.C.

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

SUTTON GROUP WEST COAST REALTY

CALL Don

604-817-7338

Munro

botsold@intergate.ca

Prime Agricultural and Commercial / Industrial

Real Estate

50915 Ruddock Road COMMERCIAL/INDUSTRIAL SURREY 11151 Bolivar St & 13340 112 Ave $2,750,000 • 2.3 Acres (on corner) • Zoned CHI (Highway Commercial) 19518 32nd Avenue $3,150,000 • 4.83 Acres in Campbell Heights • Designated Business Ofﬁce Park

LANGLEY 203-20771 Langley Bypass $750,000 • +/- 3,864 sq.ft. commercial strata • Fully leased • Excellent Investment Property

27465 60th Avenue COMMERCIAL/INDUSTRIAL

44085 Yale Road West $1,250,000 • 1.01 Acres • Close proximity to TransCanada Hwy • M2 Zoning (sales, manufacturing, distribution, warehousing, food processing, outside storage allowed)

✓ VALUE FOR $

ACREAGES

44109 Yale Road West $1,210,000 • 0.8 Acres • Home and large shop • Close proximity to Highway #1 • M2 Zoning

“Bare Farm Land” $3,500,000 • +/- 50 Acres • prime hayland • Terriﬁc location • Relatively ﬂat farmland & perfect for most crops

8558 Chilliwack Mountain Road $4,600,000 • 10.687 acre Vacant Industrial Lot • Zoned M3 (General Industrial) & M4 (Heavy Industrial) • Level lot with a compacted gravel base • Great Location! Great Price

24453 60th Avenue $2,600,000 • Large 48 Acre parcel (divided from original 77.2 acres) • Located on the northern portion of 244583 60th Ave • SR-1 zoning & section zoned P2-G

ACREAGES

CHILLIWACK 45116 Yale Road 1.376 Acres • Excellent location just off Evan’s Road Exchange • Perfect location for your business • Currently M2 zoning Call For Price & Additional Information

7730 Old Orchard Road

LANGLEY 27465 60th Avenue $1,299,000 • 5 acres w/ beautifully renovated log home • Large paved drive, lots of parking for large trucks • Fenced and cross fenced + future rezoning potential “Trophy Farm” $9,800,000 • 550 gallon per minute water supply • 12,583 sq.ft. home • Warehouse/shop, ofﬁce, barn • 100+ acres fenced and cross fenced

✓ GOOD RETURN

48th Avenue & 216th Street Open to Offers • 45.82 Acres (two parcels) • Possible Future Potential?

CHILLIWACK

889 Lefeuvre Road $5,800,000 • 26.6 Acres • Mushroom Farm • Shop/Composting Facility • Growing Barn & Multi-Use Building 27691 Downes Road NEW REDUCED PRICE!!!!! • 26 Acres • Potential Berry Land?? • Large Shop & Barn/Storage 7700 240th Street Open to Offers • Remodelled!! 16.2 Acre panhandled shaped lot • Large +/- 3,253 sq.ft., 3 bedroom rancher • +/- 1,126 sq.ft., 2 Bedroom Basement Suite • Jetted tubs upstairs & downstairs

✓ TENANT COVENANT

6842 202B Avenue & 6868 202B Ave $1,700,000 • Prime Townhouse Development Site • Designated +/- 40 UPA with underground or structured parking • Excellent View Property close to all Amenities

50915 Ruddock Road $598,000 OFF ERS • 2.496 Acres • Excellent view property • close to many amenities • +/-2 year old 2 stry home w/ full ﬁnished basement • Beautiful large master bedroom with rear balcony, 4 pcs ensuite & walk-in closet

51140 Ruddock Road $850,000 OFFER S • Potential for 11 Lots! 27.98 Acres • Private, yet in close proximity to many amenities 700 Columbia Valley Road $1,300,000 • Prime Farm Land, 25.51 Acres • Build your dream home here!

✓ UPSIDE

✓ CAREFREE

A4 Lower Mainland

www.westerninvestor.com OCTOBER 2012 WESTERN INVESTORW

MACDONALD COMMERCIAL REAL ESTATE SERVICES LTD. BOB SCR AGG PREC

604.290.2906

94 Unit Hirise Apartment Bldg. For Sale

bscragg@macrealty.com Sparkling Commercial Investment Waiting for you 6% cap

DAN SCHUL Z

778.999.5758

42 Suite Apartment Building - Kamloops

dan@bcapartmentinsider.com 34 Suite Downtown Apartment Bldg.

• Prince George, BC

• 27256 Fraser Hwy, Aldergrove

• Residences at Sun Valley Ridge

• Central commercial frontage in town centre on main street. • Building 6,500 sq ft/ Lot 66’X120’ • Can be re-configured into 3units (2,000 SF) all w/ street frontage. • Mixed use redevelopment potential • Guaranteed 3-yr lease to yield near 6% yield • List Price: $750,000

• 859 Thurlow St, Vancouver, BC

• Located in Downtown Prince George - near transit

Solid, 42-Suite Apartment building on large • corner site • 7% cap rate • Central location, near shopping and transit • 23 1-Bdrms / 18 2-Bdrms / 1 Bach • $3,880,000

• One block off Robson Street • Newly Renovated Heritage Building 22 Bach / 12 1-Bdrms

• 94 units/11 Bchlr /35 1-Bdrm/47 2-Bdrm • Recently fire damaged & vacated. Insurance money available for buyer to repair or seller will deliver the bldg ready for occupancy

102 Acres Prince George For Sale

Office Building For Sale / Lease

43-Pad Mobile Home Park - Kelowna

• New Plumbing, New Electrical & New Windows, New Everything! • Wireless Internet, Exercise Room • List Price: $8,288,000

Multifamily Investment Opportunity - Alberta

t r ea G ble t eva t men i l s be Un Inve • Designated - Residential & Commercial • Services available • Super investment • Gravel opportunity while holding • $2,500,000 $1,700,000

• Burnaby, BC • 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 $17M

South Surrey Office/Retail Building For Sale

• 2355 Marshall Rd., Kelowna, BC • Outstanding location in Sunny Okanagan • Future Development Potential • 6.517 Acres • $5,500,000

Selling Apartment Buildings in B.C. Since 1998

• Solid Concrete 5,000 SF office/retail building on 3/4 of an acre at a busy intersection

Outstanding Service Strong Local and International Client Base Over $350 Million in Multi-family Real Estate SOLD

• Zoning permits additional development up to 25,000 SF • Ideal for owner/user

DAN SCHULZ 778.999.5758

• Asking Price $2,388,000

3221 140th Street, South Surrey, BC

604.714.4786 604.714.4766

CHRIS MIDMORE KELVIN LUK

Dan Schulz & Gary Webb

• Chinook Manor - Brooks, Alberta • Located approx. 186km southeast of Calgary • 12 strata-titled condominiums • 1 1-Bdrm / 11 2-Bdrms • $995,000

www.bcapartmentinsider.com

Rare Golf Course Opportunity For Sale | Vancouver Island

Kitimat, BC - 80 Unit Apartment Complex For Sale

• 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 room hotel and convention centre • 8,000 sq. ft. custom built home

BRUCE LONG CCIM DAVID FITZGERALD

ERIC POON / KELVIN LUK 604.736.5611 Free Standing Building on Main Street For Sale | Vancouver, BC • Medical anchored – fully tenanted / Four 1 bedroom suites above • Asking $2,650,000 – 5% Cap Rate MIKE

GREWAL PREC 604.537.5825

South Granville Apartment Building For Sale • 14 Suites / 1 -Studio & 13 - 1Bdr List Price: $5,288,000 $5,088,000 BRUCE LONG / DAVID FITZGERALD / GARY KHAN 604.736.5611

Kelowna Golf Range For Sale - Land, Building & Business • Land, building & business for sale. Approx. 10 acres in ALR. • List Price: $1,650,000 $1,450,000 GARY KHAN 604.714.4799

Little Mountain Chilliwack - 59 Lot Subdivision For Sale • 59 lot subdivision / Little Mountain Chilliwack

GARY • List Price: $3,998,000 PRICE REDUCED

604.312.2000 604.714.5522

KHAN 604.714.4799

4.99 Acres of Non ALR Land For Sale | Langley, BC • 23699 Fraser Highway, Langley • Over 235 ft of frontage on Fraser Hwy • Rezone potential to commercial / industrial • Asking only $1,495,000

MIKE GREWAL PREC 604.537.5825 VIC SANDHAR 604.340.4607

Vancouver 604.736.5611 Fraser Valley 604.590.2444 commercial@macrealty.com Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.

SALES

. LEASING

STRATA MANAGEMENT

PROPERTY MANAGEMENT

www.macdonaldcommercial.com

WESTERN INVESTOR OCTOBER 2012 www.westerninvestor.com

Lower Mainland A5

FFER

IPLE O MULT

APARTMENT BUILDING SPECIALIST KELOWNA

WEST SIDE

ABBOTSFORD

58 Unit/Concrete Highrise Extensive Renovations Gross Income $558,188

11 Units – Great Condition Penthouse with views Gross Income $133,317

16 Unit Apartment Building Gross Income $111,744 Potential Cap Rate 6.34%

NEW WESTMINSTER

PORT ALBERNI

EAST VANCOUVER

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

43 Units/2 Buildings Close to amenities Gross Income $222,893

17 Units/Mount Pleasant Penthouse/Laundry Gross Income $182,311

RETAIL SALE/LEASE

RETAIL INVESTMENT

INVESTMENT PROPERTY

RETAIL INVESTMENT

INVESTMENT OPPORTUNITY

906 Main Street, Vancouver 4,314 sq ft on two levels • Restored heritage building • Exposure corner in trendy location • 5 parking stalls

1088 Seymour, Vancouver 1,182 sq ft • Downtown location Tenanted - 5 year lease High exposure corner

2780 Arbutus Street, Vancouver 5,791 sq ft building on 9,375 sq ft lot Key corner location • Stable long term Income • Care free management

1795 Venables, Vancouver 981 sq ft retail unit Great curb appeal

1751–1771 Savage Road, Richmond Two buildings totalling 110,340 sq ft on 5.483 acres • Fully leased to 5 tenants • Over 6% return

James Bayley, Meghan Kennedy

Don Mussenden

Conor Finucane, Pam Stone

Conor Finucane, Casey Bell

OFFICE SPACE FOR SALE

INDUSTRIAL SALE/LEASE

INDUSTRIAL SALE

INDUSTRIAL SALE/LEASE

PRIME DEVELOPMENT SITE

13988 Maycrest Way, Richmond 2,800–5,880 sq ft Recently renovated, with upgrades Excellent access to YVR, Hwy 91 & 99

2133 - 21320 Wesminster Hwy, Richmond 3,005 sq ft industrial strata unit Exposure to Westminster Highway

107 & 108 3060 Norland Ave, Burnaby 2,576–5,888 sq ft Nicely finished dock loading strata units

903 Sherwood Avenue, Coquitlam 6,900 sq ft on 12,079 sq ft lot Fenced and paved yard Exposure onto Brunette Avenue

860 Dominion Ave., Port Coquitlam 7.13 acres • Proposed M3 Industrial zoning • Great potential • Located in mixed-use development area

Casey Bell

Casey Bell, Anthony Lux

Phil Gibbons, Steve Caldwell

Chris McIntyre, Steve Caldwell

Steve Caldwell

DEVELOPMENT OPPORTUNITY

DEVELOPMENT SITE

INVESTMENT OPPORTUNITY

INDUSTRIAL SALE

INVESTMENT OPPORTUNITY

King

Located steps from Commercial Drive

George Blvd

2450 Ticehurst Lane & Gately Avenue, Port Coquitlam 32,381 sq ft site • River frontage 48,571.5 sq ft of buildable density

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

12682 82nd Avenue, Surrey 24,700 sq ft on 1.19 acres Fully leased generating $180,870 per annum • Asking $3,400,000

54370 Bridal Falls Rd., Chilliwack 14.165 acres • Development potential Exposure and access to Highway 1 3 phase power • Covered storage

904, 908–990 Victoria St., Kamloops 1.377 acres • C-4 zoned $216,000 gross rents • Two buildings on 9 lots • Asking $1,995,000

James Bayley, Chris McIntyre

Rand Thomson, Sebastian Espinosa

Tony Capolongo, Sebastian Espinosa

Rand Thomson, Sebastian Espinosa

Steve Caldwell, Murray Wills

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 veriﬁcation. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 08/2012.

A6 Lower Mainland

www.westerninvestor.com OCTOBER 2012 WESTERN INVESTORW

Northern Canada must get its grit back

comes to what could be happening in Northern Canada, we have seen virtually nothing of what should be happening. Consider the MacKenzie Valley pipeline. This is a $16 billion plan to pump natural gas from the Beaufort Sea south through the N.W.T. The National Energy Board may make the final decision on the project in 2013, 40 years after it was first envisioned. Mining giant DeBeers wants to open a $600 million diamond mine in the northern territoy, but it had to hand in a 19-volume environmental assessment (and even that is no guarantee it will ever be approved). A $180 million, 1.1-kilometre bridge across the MacKenzie River near Yellowknife could complete this year, two years and millions of dollars over budget. This month, the apparently willlast-forever hearings into Calgary-based Enbridge’s $6 billion plan for an oil pipeline from Alberta to the West Coast continue in northern B.C., but even towns along the route – including Prince Rupert,

e can imagine the gritty explorers and entrepreneurs who once defined Canada’s north spinning in their

frozen graves. For, when it comes to a gap between economic potential and on-the-ground reality, the north leads the nation. An example: when Prime Minister Stephen Harper visited the Northwest Territories this summer, his mantra was, “The north is Canada’s economic powerhouse.” So what was the PM’s big announcement? The dedication of a new national park, the Naats’ich’oh National Park Reserve, which will permanently lock about 4,000 square kilometres off from development. It is right next to the 30,000-square-kilometre Nahanni National Park. “You ain’t seen nothing yet,” Harper said. Unfortunately, we agree. When it

Western perspective

PENTICTON

SURREY/OCEAN PARK

Financing & Trades Available

Monark.com LD

353 WATER ST.

21 WATER ST. - The Packing House

ADVERTISING DEADLINE

EDITOR wieditor@biv.com

NOVEMBER 2012 issue: October 15, 2012

COMOX

25 23 Renovated & Leased Houses 8% Net Return

Port Coquitlam from $400K

• GOOD CEILING HEIGHTS • LARGE RETAIL DISPLAY WINDOWS • NEWLY RE-DEVELOPED CONCRETE CONSTRUCTION • UNIT SIZE: FROM 941.84 SF TO 2,044.06 SF (APPROX., AS PER STRATA PLAN) • ZONING: DD (DOWNTOWN DISTRICT)

Telus Garden 3 Level Penthouse Presale $1500/ft

Penticton 1 AC Lakeview $499K SOLD Osoyoos $169K

1523 E. PENDER ST.

PARIS ANNEX COMMERCIAL RETAIL/OFFICE UNITS

Commercial Retail Space Up to 7000 sq ft. 2nd Floor Office up to 6000 sq ft. Sale or Lease

VANCOUVER

White Rock 1/2 AC Building Lots 1 million

1428 W HASTINGS ST. – DOCKSIDE LIVE/WORK TOWNHOME

LIST PRICE: FROM $389,000

FRANK O’BRIEN

• BEAUTIFULLY FINISHED LIVE/WORK UNIT IN COAL HARBOUR • IMPRESSIVE LAYOUT WITH 2 FULL WASHROOMS AND 1 HALF WASHROOM • 2 PARKING STALLS • UNIT SIZE: 1,315 SF (APPROX., AS PER STRATA PLAN) LIST PRICE: $ 988,000

Western Investor reports on the real estate revival in the U.S. Sun Belt. We update the retail sector and present an Investing 101 report on lease negotiations. Our regional reporters file from Drumheller, Estevan, Winkler and White Rock/South Surrey. Plus, we present the news and commentary needed by western investors.

BUILDING LOTS

8000 sq ft. Retail Commercial Sale or Lease 3 Level Ocean View Townhouses | Private Elevator

NEXT MONTH

PHOENIX

Custom Lakeview Home $2M SOLD Large 15th Floor Penthouse $1.35M SOLD One Bedroom Penthouse $399 $349

604-592-7250

where the next hearing is scheduled – have already voted against the pipeline. Prince Rupert, by the way, has a 12 per cent jobless rate, the second worst in Canada, and has lost about 15 per cent of its population in the past 10 years. Harper says the untapped resources in the north could bring billions of dollars in revenue and investment. His words: “Those who want to see the future of this country should look north.” We are still looking.

Publisher Cheryl Carter Editor Frank O’Brien Contributing Writers, Dave Husdal, Geoff Kirbyson, Glen Korstrom, Peter Mitham,Kevan O’Brien Copy Editor Noa Glouberman Production Manager Rob Benac Production Natalie Reynolds, Tanya Van Advertising Sales Christine Campbell, Gary Takahashi, David Witherspoon 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: 604-669-8500 Fax: 604-669-2154 Canada/ U.S. toll-free: 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.

611 POWELL ST.

350, 356 & 360 CARRALL ST.

608 W PENDER ST./515 SEYMOUR ST.

• THE MALONE’S DOWNTOWN & CAMBIE (SEYMOUR) HOSTEL. 40 GUEST ROOM HOSTEL (74 BEDS), A 125 SEAT RESTAURANT & A 180 SEAT PUB W/ AN OFF SALES LOUNGE. • LOCATED ON THE CORNER OF WEST PENDER ST. AND SEYMOUR ST. • EXCEPTIONAL OPPORTUNITY FOR INVESTORS, OWNEROPERATORS AND DEVELOPERS LIST PRICE: $ 8,500,000

604 – 55 E CORDOVA ST. • CORNER LIVE/WORK PENTHOUSE STRATA • FLOOR TO CEILING WINDOWS W/ EXCELLENT VIEWS • PARKING AVAILABLE • LARGE PATIO WITH THE POTENTIAL OF HAVING A ROOFTOP DECK • UNIT SIZE: 1,996 SQ.FT (APPROX., AS PER STRATA PLAN) • ZONING: HA-2 (GASTOWN HISTORIC AREA) LIST PRICE: $1,990,000

ROBERT THAM • MARC SAUL • Corbel Commercial Inc. www.corbelcommercial.com • Tel: 604.609.0882 • Fax: 604.609.0886 • 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.

Lower Mainland A7

WESTERN INVESTOR OCTOBER 2012 www.westerninvestor.com

SOLD – 201 Edson Street, Saskatoon

LD O S

SOLD - 900 Parker Street, Vancouver

• 100% leased to Great West Distribution Ltd. • Tenant recently renewed for a further ﬁve (5) yrs. • Lease has contractual rental escalations. • 5.12 acre site located in Saskatoon’s CN Industrial Park

LD O S

• 116,000 sf single-tenant distribution facility • 100% leased to General Paint • Below-market rent • Off-market transaction

Mark Hannah / Rob Greer FOR SALE – 3600 Viking Way, Richmond R T DE AC N TR UN CO

• 46,241 sf single-tenant building • 100% leased to Quantum Murray LP • Large 3.094 acre site

Mark Hannah / Rob Greer FOR SALE – 3838 & 3862 West 50th Avenue, Vancouver R T DE AC N TR UN CO

• Rare - West Side development sites • Across from Point Grey Golf & Country Club • Two (2) individual lots, each is 132 feet x 297 feet • Single-Family Subdivision Potential

Mark Hannah / Rob Greer SOLD – 1999 Nelson Street, Vancouver

LD O S

Mark Hannah / Alex Messina FOR SALE – 8515 River Road, South Mission

• Located west of Denman Street, one block from Stanley Park • Four storey plus penthouse concrete apartment building • Tremendous upside opportunity on rental rates • Rare opportunity to acquire a premier multi-family asset

• 6.82 acres • M-2 Heavy Industrial • Exposure onto Lougheed Highway • $2,387,000

Mark Hannah / Rob Greer FOR SALE – 728 Main Street, Vancouver • • • • •

Chinatown Retail Property 2-storey retail property w/unique architectural features Extensively renovated in 2004 & 2009 Opportunity for a user or investor Redevelopment Potential

John Eakin / Michael Farrell FOR LEASE – 320 Ewen Avenue, New Westminster • Paved and fenced yard area • Will consider tenancies from 4 to 8 acres • Existing sheds also available

Michael Farrell / John Eakin / Bal Atwal

Mark Hannah/Rob Greer

FOR SALE – Pantec Mini Storage, Bellingham, Washington FOR LEASE – 1 Eighth Street, New Westminster • • • •

• Premier 144,000 sf Class A office and retail space, year end -- 2013 completion • LEED Gold, energy efficient office bldg w/ large flexible floor plates • Adjacent New Westminster SkyTrain station • Abundant parking, amenities & spectacular views

INVESTMENT/DEVELOPMENT OPPORTUNITY 14.67 acres including a 3.5 acre serviced parcel for future dev. # of Units: 842 Cap rate: 7.2% • $6,900,000 Cdn

Robert Gritten / Patricia Lidbetter / Ryan Kerr FOR SALE/LEASE – 2907 3rd Avenue, Port Alberni

Darrell Hurst FOR SALE – 2405 – 2427 Crescent Way, Abbotsford • 1.53 Acres • Permits in place for a 83 unit Multi-Family development • Ability to build a six storey, 101 unit development • Next to new $38M Abbotsford Collegiate School • $1,998,000

• Zellers building available for lease June 2013 • Demising options available • Abundant parking • Over 4 acres of land including 100,000 sf of big-box retail space Amanda Vissia

FOR SALE – 9781 186 Street, Surrey BC • • • •

Douglas L. McMurray / Bal Atwal FOR SALE – 880 Belgrave Way, Delta • Manufacturing / Distribution Building • 162,330 sf • Owner User / Investor Opportunity

2.86 acres Zoned and serviced In sought after Port Kells industrial park Asking $2,699,000

Ryan Kerr / Michael Gill / Robert Levine / Robert Gritten

Michael Farrell / John Eakin FOR SALE – Abbotsford Industrial Land E D I C CE R P DU RE

FOR SALE - 28730 94th Ave, Maple Ridge

• Rare serviced land • Zoned Industrial • 1.00, 2.25, 3.25, and 11.8 acre sites • Located at Mt. Lehman Rd & Brookside Ave

• • • •

Michael Farrell / John Eakin FOR LEASE – Creekside Village, Whistler

• Restaurant and retail space in North America’s #1 resort • Located at the base of Whistler Mountain • Available units range from 896-3,370 sf • Co-Tenants include BC Liquor Store, Starbucks, and Scotiabank James Shandro/ Amanda Vissia

FOR SALE – 5118 Joyce Street, Vancouver • 16,374 sf of fully improved strata ofﬁce space • 2 full ﬂoors • Available April 1, 2014

Matt Walker / Mona Khandan

28730 94 Avenue Lumber mill with water Access 4.47 acres Dry kilns

John Eakin/ Michael Farrell FOR SALE/LEASE – 1455-1475 East Georgia St., Vancouver E D I C CE R U PD RE

• 10,000–20,000 sf of Ofﬁce / Warehouse available • I-2 Light Industrial zoning • Dock and grade loading • $3,350,000

John Lecky / Struan Saddler FOR SALE – 701 East Cordova Street, Vancouver • • • • •

11,668 SF Warehouse/Mezzanine Storage 0.33 Acre Site 44 % Site Coverage Excellent signage opportunities $2,350,000 John Lecky / Struan Saddler Avison Young Commercial Real Estate (B.C.) Inc.

www.westerninvestor.com OCTOBER 2012 WESTERN INVESTOR

COVER Decisions made in next 12-18 months will decide the future of Northern British Columbia

Northern crossroads WI STAFF

WESTERN INVESTOR

Photo: Spectra Energy Corp.

The question is, will the resource-andtrade-rich area become an international investment hub or will it retain a status quo that appears less than promising? The stakes, like the northern lands, are enormous. Here are some of the investment decisions that could shape and shake the north for decades to come: Fort St. John: The northern centre for natural-gas fields is running out of industrial land – partially because it is hemmed by the Agricultural Land Reserve – and hungry for investors to take advantage of a booming economy, says veteran Fort St. John commercial realtor Ron Rodgers. But even Rodgers is awed by the potential of the Site C dam – a $6.6 billion-plus BC Hydro project on the Peace River that is inching toward approval. In a city where a serviced acre is selling for $150,000, BC Hydro has already bought up more than 200 acres of industrial land as a staging ground for the giant dam project that is virtually on Fort St. John’s doorstep. The utility is also planning two large camps to house an estimated 7,000 construction workers; this would represent about a third of Fort St. John’s total population.

Photo: Beedie Living

ultibillion-dollar decisions over the next few months, from giant dam projects to pipelines, ports and pellets, could well decide the future of northern B.C. and, perhaps, the entire provincial economy.

Doug Bloom, president, Spectra Energy Transmission West, at the official opening of the Dawson Processing Plant in Dawson Creek this summer. Spectra plans to spend $1.5 billion on northern expansion, including a gas pipeline to Kitimat.

Now the waiting starts. Site C, envisioned 40 years ago and approved by the B.C. government in 2010, is now working through an independent environmental assessment and broad stakeholder consultation process that could stretch out two years. But, Rodgers notes, if Site C is not given the green light it may trigger a domino effect that could stunt northern development from the Peace to the Pacific. Dawson Creek: Spectra Energy Transmission West opened a new multimillion-dollar natural-gas processing plant this

Cover Feature Silverado Inn ‐ Cold Beer & Wine Store NORTHEAST BC Realty Ltd. Dawson Creek, BC Businesses consist of a 40+ suite inn, Cold Beer & Wine Store, and Pub Facility also includes full commercial kitchen and atrium designed restaurant (currently not operating). Over 28,000sf building on 1/2 acre commercial lot plus an additional three lots are included for parking area.

NEBC

Asking $3.58 Million

- 2012

250 785 4115 Investing Our Energy In The North

Located in the heart of Dawson Creek’s tourist center No drop ins please call Ron for more info or to arrange viewing. MLS 138624

10220 101 Avenue

Fort St John BC V1J 2B5

www.NEBCRealty.com

RON RODGERS

OWNER - MANAGING BROKER Email: ron@northeastbc.com

Fraser Valley 26 pad MHP with two homes on 5 acres. 5 more sites ready to fill with all the services close by and possibly more sites in the near future. Great opportunity for equity building as there are MHPs close by that are closing down and interest is high to move mobiles to this park now. Management in place. Call for more details. Asking $1,395,000 Share Sale Fraser Valley 43 pad MHP with house and RV storage on 5 acres. Asking $4,000,000

THINKING OF BUYING OR SELLING?

If you are thinking of buying or selling, please give me a call. 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 www.sellingmobilehomeparks.com

July. According to company president Doug Bloom, the plant took 300 workers to build and requires 20 full-time employees. Spectra, with BG Group plc, is also planning an 850-kilometre pipeline from northeast gas fields to the port at Prince Rupert, where BG plans to build an LNG export facility. Now Shell Canada Ltd., Korea Gas Corp., Mitsubishi Corp. and PetroChina have chosen TransCanada Corp. to build, own and operate a $4 billion pipeline that could carry natural gas from an area near

Dawson Creek to the proposed LNG Canada facility in Kitimat. That project is expected to create between 2,000 and 2,500 jobs during a three-year construction period. TransCanada must submit an application to the BC Environmental Assessment Office and go through the application process (including two public comment periods) before it is approved, rejected or requires further information. The project would affect approximately 30 different First Nation communities along the proposed route from Dawson Creek to Vanderhoof and from Vanderhoof to Kitimat. TransCanada believes the project could be up and running by the end of 2020. Tumbler Ridge: While Teck Resources Ltd. says it has not completed a two-year feasibility study on the re-opening of its Quintettte coal mine, construction crews are already on site and it appears the company is confident of a startup. If it goes ahead, housing will be in high demand in nearby Tumbler Ridge. Vancouver-based Teck applied for a B.C. Mines Act permit in April and says it does not expect approval until the second half of next year. The company’s own feasibility study will be finished this fall. The Quintette mine closed in 2000 due to low coal prices. As the mining permit application was being made in April, Teck senior vice-president of coal Ian Kilgour told a Tumbler Ridge public hearing that, should the permit be approved, Quintette would require a workforce of about 500 and would be in production for 12 years. “We’ll look at incentives for employees to buy their own houses,” Kilgour said, noting programs around subsidies, loans and other options are still on the table.

WESTERN INVESTOR OCTOBER 2012 www.westerninvestor.com

Teck employees have already purchased some houses, apartments and lots for development in Tumbler Ridge. Prince George: Thompson Creek Metals Co. Inc. has raised $200 million in additional financing to complete construction on the $1.5 billion Mt. Milligan copper-gold mine in northwestern B.C., about 155 kilometres north of Prince George. “We are very pleased with Royal Gold’s increased investment and continued support in the advancement of our Mt. Milligan project,” said Thompson Creek chairman and CEO Kevin Loughrey, adding that the mine is scheduled for completion in the third quarter of 2013 followed by a fourth quarter start for commercial production. In February, Thompson Creek said construction costs for the Mt. Milligan mine had increased from $1.3 billion to between $1.4 and $1.5 billion. At that time, the company said the cost escalation was caused by the scarcity of inputs and resources, in particular the cost of labour. The cost to complete the project may be 10 to 20 per cent higher than previous estimates, depending on weather conditions, labour availability and productivity, the timing of equipment deliveries and any unforeseen delays. The Mt. Milligan mine is expected to employ about 1,000 people at peak construction and the 30-month construction phase will provide an average of 370 jobs. Forecasts say the mine could average annual production of 262,100 ounces of gold and 89 million pounds of copper for the first six years of operation. Prince Rupert: Pinnacle Renewable Energy has been granted approval by the Prince Rupert Port Authority to build a $42 million marine terminal to ship wood pellets overseas. Prince Rupert’s most famous eyesore – the

old Skeena Cellulose pulp mill, idle since 2001 – finally has a potential buyer. If the sale is approved – and there are major legal, environmental and regulatory hurdles to clear – the mill would not restart. Rather, it would be developed into a new bulk-shipping terminal and industrial park. Watson Island Development Corp. is offering the City of Prince Rupert $5 million for the old mill site and $500,000 for contiguous property from the District of Port Edwards. The development company is a joint venture involving Colonial Coal International Corp., Hillsborough Resources Ltd. and the Lax Kw’alaams and Metlakatla First Nations.

More than $60 billion in major capital projects planned or underway across northern B.C. The new terminal would ship metallurgical coal, grain, potash and other commodities, said Watson Island CEO Perry Braun. “We envision 10 to 20 million tonnes of bulk material [per year] going through it eventually,” he said. The city estimates such a plant would create about 200 jobs. As mentioned, the consortium must clear several hurdles before it can be sold. The mill is owned by the City of Prince Rupert, which took possession of the property for unpaid taxes – a move that triggered a legal challenge by the former owner that’s still before the courts. Another hurdle would be site remediation, which could cost $40 million to $80 million according to one estimate. Watson Island has agreed to cover a portion of the costs for site remediation.

Kitimat: This northeastern city would be the terminus for the Enbridge Inc.’s Northern Gateway pipeline, but some analysts are writing that $5 billion idea off because of resistance from First Nations. More realistic is a bid from Shell Canada and partners for a new LNG plant and, of course, the $3.3 billion Rio Tinto Alcan smelter project that’s already underway. Rio Tinto says it will need an extra 1,500 skilled workers to finish its construction phase alone. The smelter is expected to complete by 2014. There are also plans in the works to have two more LNG plants built in Kitimat by 2020. Kitimat LNG is preparing to begin construction of a plant this year and Douglas Channel LNG also has plans for new plant. Now, perhaps the wildest idea has surfaced to spark debate – most doubtful – in this port city. Victoria-based newspaper publisher David Black has announced an audacious $13 billion bid to build an oil refinery at Kitimat. Based upon the proposed project’s business case, Black said bankers in Toronto and New York have told him if the refinery passes environmental assessment and Enbridge’s pipeline is approved, he would be able to attract $13 billion from investors “in a week.” Black estimates it would take 6,000 workers to build the refinery and 3,000 more to run it once it opened. Manuel Leit, owner-broker of Re/Max Kitimat, expressed the jaded response of many Kitimat residents. “I am skeptical that such a refinery would ever be built,” he said, adding that he doubts a newspaper owner could swing such a huge project. “We have seen a lot of big plans here that didn’t work out.” The project’s biggest challenge is that it depends on Enbridge getting the green light

Investing in the north

here is more than $60 billion in major capital projects planned or underway across northern B.C., representing approximately 45 per cent of the total proposed capital investments in B.C. in the coming years. Yet only 8 per cent of the province’s population calls the north home, which means there is a serious need for labourers and professionals to move north and fill jobs. There are many other compelling reasons to move north: • the median annual household income in Prince George ($72,000) is higher than in Metro Vancouver ($67,000); • in July, northern B.C. residential sales volumes were up 20.5 per cent from a year earlier, the highest in the province; • commercial real estate sales volumes in July were 104 per cent higher than in 2011; • a three-bedroom house with a yard and garage for $300,000 is not an uncommon find, even in Prince George; and • more sex. Fort St. John and other northern centres lead the nation in child births due to many young people working in the resource industry.

to build its pipeline from the Alberta oilsands through B.C. to Kitimat. MJ Ervin & Associates principal Michael Ervin noted any Kitimat refinery would face stiff competition from refineries China plans to build. Black, known for building the Black Press chain of newspapers, said he has created Kitimat Clean, a company committed to paying the “millions of dollars” necessary for an environmental assessment for the proposed refinery.u

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For more details: Success Realty & Insurance Ltd.

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• Land Acquisition loans • Private Financing: 1st, 2nd & 3rd mortgages • Land servicing/Construction ﬁnancing up to 80% LTV • Bridge loans • Reﬁnancing & Equity takeouts Even if your loan has been ‘demanded’ or is in ‘foreclosure’ WE CAN HELP !

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all Equity rEal EstatE invEstors sEcurEd invEstmEnt oPPortunity

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WHISTLER REVENUE TOWNHOUSE – 3 bed - 3 bath $2,400 per month income. 36 units on 10 acres - Site Redevelopment Potential ............................... $399,000 SENIOR’S DEVELOPMENT SITE, Creston B.C. – Foundation in place, tendered plans, permits, ready to complete. 88 units........................... SALE: $1,990,000 NEW WEST/BURNABY MIXED DEVELOPMENT – 54 units, 46 Apartment Units, 8 Townhouse Units. $2,950,000 OCP & Area approved plan. $2,980,000 PENTHOUSE - 2 LEVELS DWTWN VAN 1764 SF, 3 BD, 3 Bth, 2 Parking, below Tax Value, ............................$999,000 2ND FLOOR OFFICE – 940 sq.ft. Fully renovated with bathroom / separate entrance. Marpole - S.Van..$1700.00/mo.

A TRUSTED NAME IN COMMERCIAL REAL ESTATE FINANCE SINCE 1977

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Jonathan P. Wong 604-331-2218

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PrairiE rEGioN

Daniel Stewart 403-205-8202

Dennis K. Aitken 403-205-8203

When it comes to Commercial Development He’s the Best Rainmaker in the West

Mortgage Alliance Commercial Canada - is pleased to announce the appointment of Michael Lee as our Commercial Mortgage Broker in Western Canada. Backed by Canada’s largest mortgage broker network, Michael brings his years of experience and expertise to the Mortgage Alliance Commercial team and to his clients. Michael’s perseverance and passion for helping his clients obtain the ﬁnancing they require makes him a key strategic partner who simply “get’s the deal done.” Start making your commercial ventures a reality today. Call Michael Lee and discover the talents and resources that he and Mortgage Alliance Commercial can bring to the table today.

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Tel:

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greg@realtechcapital.com

bryan@realtechcapital.com

GREG PERIH 604 662 4804

JAMES PALEOLOGOS 604 662 4811 jamesp@realtechcapital.com

WESTERN INVESTOR OCTOBER 2012 www.westerninvestor.com

Lower Mainland A11

THE WAY GRANT WORKS:

HIRE YOUNGER STAFF TO STAY INNOVATIVE.

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A12 Lower Mainland/Business Opportunities

“SAVOURY & SWEET”

604 576 4407 604 724 1787

• Over ¼ million in sales and plenty of room for growth

Langley, BC

• Busy Shopping Center • Good Mix of Tenants

pcarvalho@cruiseshipcenters.com

William lee 604-671-2404

leew@sutton.com Sutton Group West Coast Realty

• Centrally located - low rent.

• Growing Retail Business • Great Community

settles210@aol.com

48 Site Park - $245.00/ site 5.28 Acres. NO VACANCIES Revenue $ 133,000 City water & sewer Asking $1,172,000 (ASSET) $1,004,000 (SHARE)

• Owner retiring

TURN - KEY FRANCHISE Contact Pety Carvalho

NORTHERN BC- FORT NELSON

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LL ’S CA Y T I RTUN OPPO

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Looking for the opportunity to own a restaurant in sunny White Rock? Here is your chance - all that is missing is you! Established, stable and growing turn-key operation. The hard work and sweat equity are done. Only $175,000!

B.C. Co. owning a marina & 72 ft aluminum motor yacht on Fraser River. Approx 600 ft of dock (± 1200 ft rentable) with 90 ft boat shed,workshop & major tools. Garden design yacht fully equipped & ready to use; current owners live aboard.

• Owner will train

Complete details and pictures on www.sydsmarina.com

7507 Victoria Dr., Vancouver, B.C. V5P 3Z6

EXCELLENT INVESTMENT OPPORTUNITES

• 6% cap Rate, Squamish BC over an acre and a half located downtown with 100’ of Sea to Sky Hwy exposure. Ford Dealer as tenant est 24 yrs $20k nnn/month. ......................Asking 3.9M • Squamish BC profitable Self Storage over an acre located in Industrial park grossing over 188k /year with 2 apartments, 4 shops, 2 Retail space and 43 storage lockers. Asking 2.78M • Vancouver BC Clothier business est over 30 years grossing over 2M/year. ......... Asking 600k • Downtown Vancouver, prime Denman St location restaurant 50 seats, gross over 500k/year, liquor license est over 8 yrs. ............................................................................... Asking 248k • Richmond BC Pizza Deliver business est over 15 years. ........................................ Asking 78k • Downtown Port Coquitlam, 1,530 sqft main floor office space. ...................... Asking $10NNN

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SHARON GREYSEN / RICK MCNARY PREC 604-538-8888 WEST COAST REALTY

KELLY JOHNSTON 604-793-9900

Kjohnston@sutton.com

Westburn Realty Ltd

Sutton Group Showplace Realty Ltd.

CHILLIWACK

DEVELOPMENT

8000 Nixon Road For Sale $758,888

INDUSTRIAL

45745 Cartmell Road For Sale or Lease $1,795,000

35 acres of land fronting the mighty Fraser with loads of potential. 10.1 acre of usable land leased and Buy now for an Estate Lot and taking in $7000/m. There is take advantage of Development approximately another 2-3 acres potential coming up soon. Right to lease at $1500/acre. Zoned across the road from The Falls Golf Course is a 18.9 acre property heavy industrial. Lots of water and Power onsite. Well priced at of gently undulating land with $180,000 per usable acre. spectacular panoramic views. Call for info package. Priced for quick sale.

DOWNTOWN BUILDING

45892 Wellington For Sale or Cheap Lease $839,900 or lease at $6.00 Gross lease /sqft 3 level Character building in the heart of the downtown core. 16000 sqft on three levels. Great for retail/office combo. Music Store / School / Retail outlet. Great for a Wellness Centre. Building is vacant and ready for the next business idea.

PROFESSIONAL OFFICE SPACE –from $1500/m all in. - call for info packages 1) Knight Road Plaza - 1175 sqft – 2nd Floor - move in ready – join doctors, dentists and other professionals for $12/sqft well located in the heart of Sardis. 2) Staples Plaza – 1000 sqft – 2 units available – retail / business with incredible exposure and numerous anchor tenants - $14.50 and $22.00. 3) Gaetz Plaza – 1128 sqft – 2nd floor – Move in ready – Just set up the desks. 4 large offices, lunchroom, bathroom, technical room and reception under $1500/m. First month FREE! 4) Sutton Downtown Business Centre – from $250/m for Virtual office address with full range of services to $750/m. Boardrooms, Handicap bathrooms, large beautiful lobby, full time staff and lots of FREE parking. Call me for details and pictures. INDUSTRIAL PARK - BUSINESS - WAREHOUSE 5-8030 Enterprise Way $299,888 or $8.95/sqft

22x72 deep space with back access for 14’ loading door. 3 phase power converter. All leasehold work is done. Reception, stock area, bathroom, mezzanine. Ceiling height is 22’. Zones M-2 light industrial.

45891 and 45885 Alexander Ave. For Lease $10/sqft 2 units available. Recently vacated by long term tenants. Great retail exposure. Back access for loading door. Mezzanine and office space all built. 4 units in all. 2122 sqft of finished space. Great for a range of industrial or retail uses. Zoned M-1 light industrial.

Lower Mainland A13

WESTERN INVESTOR OCTOBER 2012 www.westerninvestor.com

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

SURREY

• Mall – 3 acres 6% cap

$16 Million

Richmond

• Mall – Alexandra & Hazelbridge

whitE Rock

• Towncentre highrise site

$7 Million $14 Million

rIck luI 604-644-6182 rick@naicommercial.ca

www.naibusinesses.ca RV REntAL & SALES Bc Well established RV business, consistently profitable. Experienced staff and management. Online reservation system overseeing a fleet of over 300 rental motor homes. .......................$11,000,000 VAncoUVER iSLAnd RESoRt & SPA Profitable resort, lodge and spa offering world class dining and spectacular ocean views. Situated on 8.56 acres of oceanfront property with future development potential. ......................... $PoA hALcYon hot SPRinGS ViLLAGE & SPA Year round outdoor playground with spectacular facilities. Profitable resort & spa business with natural hot springs. 35 acres with 800m water frontage and strata chalets. Business and property. $15,900,000 cUStom miLLwoRk (Van Island) Over 20 yrs in commercial millwork and custom door manufacturing. Averaging $5M in revenue Top of the range equipment. ...................................................... $1.95m inc equip mEtAL FABRicAtion (Lower Mainland) neW lIsTIng In business for over 20 yrs. Traditional metal processing and installation company. Sales average $5.4m ....................................................... $2,490,000 inc working cap coFFEE FRAnchiSE (Lower Mainland) Well known coffee franchise with two high traffic locations. Easy to manage. Combined sales approx $1m. Turnkey operation ............................................................. $499,000 both locations VAncoUVER dinnER cRUiSE BUSinESS REDUCED In business for over 15 years operating two yachts from Downtown Vancouver. Nets $310,000 ..............................$1.85m inc yachts niGhtcLUB BAR & GRiLL (Kootenays)

Award winning nightclub in the Kootenays. One of the largest licensed establishments in BC with popular restaurant

......................................................................................$389,000 SUccESSFUL cAFE REStAURAnt reduced Hugely popular cafe in downtown Squamish. Approx $620K annual revenue. Rent only $1,100/mth. Easy to operate. Turnkey operation ......................................................................$249,000 inc equip

alf sanderson delon cheung 604-691-6646

alf@naicommercial .ca

604-691-6654

delon@naicommercial .ca

kAmLooPS 34 SUitE APARtmEnt Bd • Gross Income $265,000, NOI $210,000 • Price $2,750,000 kAmLooPS moBiLE homE PARk • Gross Rev. $177,000, NOI $134,000 • Asking $1,800,000 moBiLE homE PARk, mERRitt • Gross Rev. $182,688, Net Income of $113,118 • Good expansion potential • Price $1,775,000 RV & mini StoRAGE, cRAnBRook • Gross Revenue $189,700, Net $152,600 • Price $1,650,000 mini StoRAGE BUSinESS, mERRitt • 147 Storage Units, 9% cap rate • Gross Revenue $154,500, Net $117,000 • Price $1,300,000 12 SUitE APARtmEnt Bd, kAmLooPS • Gross Income $121,800,000, Net $95,813 • Price $1,300,000 8 SUitE APARtmEnt Bd, SUmmERLAnd • Gross Income $53,700, Net $40,000 • Price $790,000

MIchael MarckWorT 604-691-6638 michael@naicommercial.ca

COMMERCIAL STRATA FOR SALE LAngLEy FRASER HIgHwAy FROnTAgE COMMERCIAL STRATA UnITS - 2 TO CHOOSE FROM • 2160 sq. ft. ready for your improvements • HVAC and sprinklers to an open plan • wAS $635,000 now ASkinG $605,000 • 2617 sq. ft. • Income from current lease until 2013 • wAS $749,000 now ASkinG $710,000 InVESTMEnT InDUSTRIAL STRATA FOR SALE UNDER CONTRACT 102/103 26730 56 AVE LAngLEy • 6% CAP on ask. Good tenant with new 5 year lease • 4908 +/- sq. ft. footprint with 1560 sq. ft. office and 1560 sq. ft mezzanine • Asking: $689,900 #3 27250 58 CR. LAngLEy • 6% CAP on ask. International Tenant • New 3 year lease with options • 2000 sq. ft. footprint with 1000 sq. ft. office and 1000 sq. ft. warehouse down, and 1000 sq. ft. office and showroom up • Asking: $465,000 RETAIL STRIp InVESTMEnT DOwnTOwn LAngLEy • 5 CRU’s • 10,484 sq. ft. rentable on a 14,636 sq. ft. lot • Strategic corner location • PROFORMA NOI $147,312 or 5.9% CAP on ask • Owner may guarantee income for 1 year to allow further lease up • Asking: $2,500,000 LAC LA HACHE MAnUFACTURED HOME pARk • 99 SITES ON 17+ Lake view acres • Phased development • NO income as yet • Phase 1 completed with sewer, water and electricity • Ready to occupy • Asking: $650,000

Ted WeIbelzahl 604-514-6825 or 1-800-890-9855 tedw@naicommercial.ca BRIDAL & EVENING WEAR BOUTIQUE (Lower Mainland) Profitable & long established business. Great location. Nets $200K+ . .......................................$449,000 + inv NEW LISTING FAST FOOD FRANCHISEE (North Vancouver) Mall location $320K Gross ........................................ $228K + Inv NEW LISTING HOBBY FARM (North Okanagan) 26 acres Farmland + updated 4,200 s.f. Rancher $899K

Tobiano golf Course, kamloops BC • Court Ordered Sale! • Fully operational Golf course and clubhouse • Ranked best public course in BC & 10th overall in Canada • pRICE: $5,500,000 10,105 sq. ft. Office Building, Abbotsford BC • Court Ordered Sale! • 3 storey office building totaling 10,105 sq. ft. • 25 underground parking stalls & 7 surface spaces • REDUCED: $2,400,000

COURT ORDERED SALES

160 Acre Development Site, Abbotsford BC • One legal quarter section totalling 160 acres • Zoned LU/R-1(Limited Use Resource/Residential) PRicE: $3,900,000 459.1 Acre Development Site, Cranbrook BC • Zoned CD-1 & UH-R allowing for low & medium density residential • Surrounding Gary Player designed golf course PRicE: $22,300,000 1.37 Acre Residential, Coquitlam BC • One legal parcel totaling 1.37 acres • Zoned RS-2 • Close to all amenities PRicE: $1,225,000 116.53 Acre Development Site, Invermere BC • Triple Zoned R-1, A-1, & SH-3 (various uses) PRicE: $1,499,000 INDUSTRIAL & DEVELOPMENT SITES 43,560 sq.ft. Industrial waterfront Site, new westminster, BC • Zoned M-2 (Heavy Industrial) • Five contiguous water lots • 330 feet of riverfront PRicE: $950,000 1.04 Acre Light Industrial Site, Squamish BC • Excellent exposure site within the Squamish Business Park • Preloaded site with plans available and access to Highway 99. • Zoned I-1 (Light Industrial) PRicE: $850,000 15.1 Acre Development Site, north Vancouver • One legal parcel totaling 15.1 acres • Zoned RS1 & PRO (one unit per 43,056 sq.ft.) PRicE: $5,250,000 23.3 Acre Agricultural Site, Delta BC • One legal parcel totalling 23.3 acres • Zoned A-1 (Agricultural) • Easy access to Highways 99, 91, & 10 REdUcEd!: $2,200,000 27.6 Acre Agricultural Site, Langley BC • One legal parcel totalling 27.6 acres • Zoned Ru-5 (Rural Floodplain) • Adjacent to Nathan Creek dyke REdUcEd!: $2,000,000

gary haukeland or j.d. Murray

604-683-7535

gary@naicommercial.ca jdmurray @naicommercial.ca

PowELL RiVER 26,900 s.f. Centre. 8.5% cap GRAnd PRAiRiE Mixed O/R

$1.5 m

$130,000 N, 9% Cap

kAmLooPS 254 Royal Ave 45 units

$2.6 m

kELownA 64 Unit Condo/retail. Core area. “build to suit’ $11.75 m PRincE GEoRGE 118 Acre, 4 M Meters gravel, (abuts airport) $3,200,000 1063 Great St., 5 acres, 17,500 s.f.

$2.8 m

PRincE GEoRGE 3 Separate Apts. 12-40 units SUncoR/mcdonALdS diSP. 4 sites 13,000 s.f. to 40,000 s.f. qUESnEL 1.7 Acre, 3 nationals, 19,500 s.f., $281,500 $4,700,000, 6% RAmAdA VALEmoUnt 70 Rooms, all amenities, share sale, 9% Cap Rate wiLLiAmS LAkE Portfolio $467,049, NOI, $6,225,000, Cap 7.50%, 5 Buildings

PeTer seed 604-691-6608 peter@naicommercial.ca EqUiPmEnt REntALS (Metro Vancouver) • Long established • Very Profitable • Fully managed • $2.3mil annual sales .................................... Shares $3.0mil

MOTEL, PUB LIQUOR STORE - FRASER VALLEY Profitable - $3.2M Gross, NOI $370K .................................... $3.5Mil

doLLAR StoRE FRAnchiSE (Fraser Valley) • Established in 2001• Premier location in a large mall • 4,000sf store • $795,000 annual sales......... $188,000 + inv

elIzabeTh WoznIczko 604-691-6648 elizabeth@naicommercial.ca

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

Committed to Canada. Connected to the World.

A14 Recreational Real Estate LIFESTYLE PROPERTIES •••

•

www.westerninvestor.com OCTOBER 2012 WESTERN INVESTORW

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

www.landquest.com 604-664-7630 • 1-866-558-LAND (5263)

• • • • • •

SADDLE ROCK MOUNTAIN RANCH – ROCK CREEK, BC

ICONIC FISHING / ADVENTURE LODGE – BC’S INSIDE PASSAGE

Very private 640 acres, 2 titles Professionally built cottage 1.5 miles private valley at Rock Creek Overlooks Kettle River Perfect outdoorsman’s paradise $875,000

• Established successful resort • Turnkey operation, 30 years in same family • 33 acres, 750 ft. directly across the road from ocean. Includes land, improvements, boats, furnishings, equipment and business • $2,395,000

Rich Osborne 604-664-7633 Personal Real Estate Corporation

Brian Harris 604-664-7636 brian@landquest.com

EXECUTIVE ESTATE / DEV. PROPERTY - VICTORIA, BC

FRASER VALLEY LUMBER YARD & HARDWARE STORE

OUR COVE RV KALUM LAKE - TERRACE, BC

TULANI RANCH - BETWEEN BURNS LAKE AND HOUSTON, BC

10 ACRES NELSON, BC

• Zoning allows for 10 acre lots • Panoramic ocean and city views • 99 acres $2,500,000 and 118 acres $2,500,000 • Some drilled wells and driveways already roughed in.

• • • • • •

Very high traffic location Major national chain 11,000 sf of retail space Additional 2 acres of lumber yard Solid business with expanding client base Valued at $585,000

PORT BROWNING MARINA RESORT – N. PENDER ISLAND

• • • • • •

Serious development potential! Business with excellent cash flow! Busy year-round pub, restaurant & marina 5.33 level acres & foreshore lease 920’ low bank oceanfront & 3,000’ wharf NEW PRICE! $4,540,000

• • • •

One of a kind. 25 RV sites. 2 boat ramps Water gravity fed to each site from creek Power only to owner site & community cabin Good fishing & outlets the Kalum River world known for salmon and steelhead. • 33 kms north of Terrace, BC $439,000

OCEANFRONT HOTEL QUEEN CHARLOTTE ISLANDS

• • • • • •

14% cap rate Huge ocean view rooms Owners retiring Building in great shape only 9 years old Near the marina and all Masset stores $1,375,000

• Off the grid, satellite & cell service, solar, wind turbine, generator. 480 ac, 2 yr round creeks, ponds, hayfields, completely surrounded by Crown lands • 1296 sf 2 bdrm 1 bth newer home • REDUCED TO SELL $439,000

SEASONAL HUNTING CAMP WESTBRIDGE, BC

• • • • •

• • • • • •

Near new 1,900 sf home – fully equipped 8 seasonal cabins – each sleep 4 About 2 hours to Kelowna – Big White White tail and mule deer in abundance Good year round access. Approx $40K income. $475,000 ANXIOUS SELLER

Cozy 2 bedroom cabin Treed hillside location 5 min out of town Great views of Kootenay River Three artesian wells on property Good investment on unzoned property $249,900

Penny McFarlane 1-250-640-4112 penny@landquest.com

Doug Dyer 604-818-6600 doug@landquest.com

Denis Dore 250-847-6159 denis@landquest.com

Larry Laing 250-513-2733 larry@landquest.com

RANCHLAND NEAR 100 MILE HOUSE

SHOAL HARBOUR MARINA SIDNEY, BC

NEW HOME IN 55+ COMPLEX 100 MILE HOUSE

MARINE HOTEL POWELL RIVER, BC

SEASCAPE RESORT & MARINA QUADRA ISLAND, BC

3 excellent ranch properties close to town In the heart of BC’s ranch country 609 ac encompassing Davey L. $395,850 772 ac w/water license on creek $459,589 480 ac surr. by Crown land $285,600 All very well priced!

• • • • • •

SUPER LOCATION w/ dev. potential 25 slip marina, 0.44 acre upland & parking Ground floor marine commercial Marine service & repair facility Zoned Marine Industrial $2,600,000

• • • • • •

Detached home close to town Fully enclosed heated garage Open floor plan. 2 bdrm Gorgeous kitchen with pantry Hardwood, tile and carpeted flooring Gas fireplace $219,900

• Prime location, downtown above the ferry terminal • 23 rooms, 150 seat restaurant • 125 seat pub, banquet room • 3 storey, 20,000 sf of finished space • $899,000

• 2.03 ac oceanfront in Gowlland Harbour • 2 titles & 2 foreshore marina leases • 12 oceanfront & 1 deluxe ocean view cabin, spectacular 1,800 sf log pavilion • 2,000 sf main house, 1,220 sf workshop • 1000’ of premium dock space. $1,798,000

Dave Cochlan 604-664-7340 dave@landquest.com

Carson Dorward 250-593-0253 carson@landquest.com

Jason Zroback 1-604-414-5577 Jamie Zroback 1-604-483-1605

LYTTON, BC AIRSTRIP DEVELOPMENT

SHUSWAP LAKE DEVELOPMENT LANDS

1900 SF HOME ON 2.69 ACRES ANAHIM LAKE, BC

NORTH OKANAGAN VINEYARD ENDERBY, BC

BC’S SHUSWAP LAKE 1.23 ACRE VIEW LOT

• • • • • •

58 acres – two titles 3 separate zoning designations Just north of downtown Lytton Services to be installed Airpark potential $489,000

• • • • •

238 acres – south shore Road access – 300 ft WF Great views, power, water 60 lot proposal ready to go HUGE REDUCTION to $1.19M

Rural lifestyle Spacious rooms & large sundeck Glass greenhouse & raised garden Small barn & workshop Short distance to community amenities Horse friendly $115,000.

8.5 acre property 5 acres of grapes 3 bdrm, 3 bath log home Situated in BC’s wine country Perfect for winery sales and/or B&B $799,000

• • • • • •

Deceased Owner - Estate anxious to sell BEST BUY IN THE SUB-DIVISION Good building site for home + cottage No time frame to start construction Water, hydro at lot line REDUCED TO $75,900

Kurt Nielsen 250-338-6090 kurt@landquest.com

TOLL FREE 1-855-267-2591 ron@landquest.com

Ron Svisdahl

Ken Hunter 1-855-214-5263 ken@landquest.com

Brian Harris 604-664-7636 brian@landquest.com

HISTORIC BRITISH COLUMBIA RANCH

25 LAKE VIEW ACRES HARRISON HOT SPRINGS, BC

109 ACRE HANSON ISL. BC COAST - OFF PRINCE RUPERT

A PIECE OF PARADISE

PEACEFUL RURAL SETTING 1 HR FROM VANCOUVER

110 years of rich / colourful history 431 acres in a beautiful setting Nazko River runs right through The only deeded property on Marmot Lk. Plus a private “Firefly Lake” $1,350,000 Brian Harris 604-664-7636 brian@landquest.com

• Fantastic building sites with breathtaking views . Sub division potential • Located in the Jewel of the Fraser Valley • Only mins from Harrison Hot Springs • Borders a Provincial park • Some timber. $1,195,000 Brian Harris 604-664-7636 brian@landquest.com

• • • • • •

Near south end of Porcher Island Salmon, cod, halibut & crab fishing Access by boat or float plane Sheltered moorage Own your own BC Coast Island! Reduced $399,000 Brian Harris 604-664-7636 brian@landquest.com

• • • • •

Secluded get away on pristine Pitt Lake Delightful 1,064 sf panabode cabin Covered deck with view of the lake Crystal fresh water supply An easy 40 minute boat ride and on the sunny side. GREAT value $349,000 Doug Dyer 604-664-7634 doug@landquest.com

• • • • • •

7 acre equestrian estate Breathtaking Pitt River vistas Warm and comfortable country home Solid, functional barn, paddocks, pastures. Ideal site for future dream home $1,290,000 Doug Dyer 604-664-7634 doug@landquest.com

A15

WESTERN INVESTOR OCTOBER 2012 www.westerninvestor.com

RECREATION FEATURE Slashing prices pumped sales of Wildstone luxury golf villas in Kootenays

From “tombstone” to tee off FRANk O’bRIEN

Oak Bay Beach Hotel nearly completed

There was strong evidence that they could have been right. The entire project was in receivership, for the second time, and under the direction of court-appointed Ernest Young. Today, Wildstone Golf Course is thriving, and 23 of the 43 Boulder Creek luxury homes – after deep price cuts – have been sold and are now occupied. “Several factors are contributing to our success,” said Boulder Creek sales director Harold Shand. “To begin with, these homes are ready to move into right now. In fact, many of our purchasers are Cranbrook locals who have made Boulder Creek their primary residence.” Shand added that the B.C. government’s repeal of the HST means “the tax situation is now more favourable for purchasers than last year” – a fact not yet widely understood by most Alberta visitors to the Boulder Creek sales centre. But the killer incentive that launched sales? The dramatic price reductions. “Prices [of villas] range from $304,000 to $465,000, which represents savings of over $200,000 from the original prices,” said Shand. “Our Colliers International team is marketing the development and all homes are

Photo: Colliers International

wo years ago locals were nicknaming Wildstone “tombstone,” saying the B.C. Rockies golf course would never get built and the Boulder Creek neighbourhood wouldn’t become a reality.

Photo: Oak Bay Beach Hotel

WeSTeRn InveSTOR

Venerable Oak bay beach Hotel is close to being rebuilt.

t’s been nearly seven years since kevin Walker shuttered his Oak Bay Beach Hotel and, while he admits he never expected it would take so long to bring the waterfront site back to life, he’s coming to grips with the fact that a very long journey is nearly finished. “We’re starting to realize that in a couple of months we will be right back in the rhythm of running a busy hotel,” he said. “I think people will view it as it should be viewed – a new product, a new property, a new Oak Bay Beach Hotel – and they will find it to be one of Canada’s finest destination resorts by the time my operations team is fully engaged.” The project – which will feature a 100room hotel, 20 luxury residences, seaside mineral pools, a fitness centre, the Snug pub, the David Foster Foundation Theatre and a fine-dining restaurant – already has a management crew of 24 at work in the completed administrative wing of the property.

boulder Creek villas at Wildstone near Cranbrook, b.C.: prices cut in half on some luxury homes – but now they are selling.

being sold below replacement cost.” He said when word got out, the buyers started showing up to look at the luxury townhomes, listed in 2008 for up to $700,000 and now selling for as little as $210,000. That means that some homes are selling for less than $180 per square foot though, according to construction estimates, it would cost more than $300 a square foot to build and finish the homes to the same level of quality. Colliers launched a sales blitz that resulted in four sales in first two weeks in August. As the month ended the deals were sweetened with an extra $7,500 price cut on selected villas. “This is the best deal on golf course property, anywhere in B.C.,” Shand said. Boulder Creek at Wildstone – one of several new golf resorts blindsided when the recession hit four years ago – may technically be located within Cranbrook limits, but it’s far enough from the city’s downtown

core and Highway 3 to offer a “resort like” ambience. Before the fall of 2008, golf developments and resorts sprang up all over the U.S. and B.C., with courses being used as hooks for people to buy condos and houses. The real estate crash forced Bear Mountain on vancouver Island into creditor protection, from which it has since emerged, and killed a variety of golf-resort projects on the Island, in B.C.’s Interior and all over nevada and Arizona. Jim Goddard, director of golf for victoria’s Cordova Bay Golf Course, said that ever since the market crash Canadians have been flocking to those states, where they are essentially “giving golf away.” “If you think the golf business is weak here, it’s in panic mode down there,” he said. But Goddard is quick to point out that it’s not all gloom and doom. Local courses that have ensured they cater to local golfers, he says, are on the right track.u

Lower Mainland FOR SALE

COMMERCIAL

BUILDING AT UBC Sidebar: . 3800 Wesbrook Mall provides an excellent ED S S A E 81,260 BE L DETAIL environment that will support and Y A M HeAD FOR = Oak Baysq.ft. BeachR&D Hotel nearly completed enhance the intellectual and social development CALL goals

companies

involved

R&D.

It has been nearly seven years sinceLaboratories, kevin Walker offices, teaching, training, and shuttered his Oak Bay Beach Hotel,conference and while he in support of research and facilities, development in atonumber of key areas. OFFERS admits he never expected it would take so long bring the waterfront site back to life, he’s coming Kris Pope 604-318-5226 to grips with the fact a FOR very long journey is nearly AUTOMOTIVE SHOP LEASE CLARK DRIVE, VANCOUVER finished. 4 or 5 bays plus office (3,000 to 3,600), 3 or 5 year lease with up starting realize that inshops a couple of months to 20 “We’re years. High profito le with many auto nearby, good clean building SED A Asking $16.67 plus $6.40 & taxes we will be right back op in the rhythm of running a busy E L hotel,” Walker said.Call Kris Pope for details 604-318-5226 “I think people will view it as it should be viewed: PRIME RETAIL INVESTMENT SEEKING AN INVESTMENT OPPORTUNITY a new product, a new property, a new Oak Bay Beach 3 strata title units Either multi tenant office or business Hotel, and they will find it to be one of Canada’s finest sold together---conpark with good return and or upside destination resorts by the time my operations team is trol the entire retail Up to $25,000,000. fully engaged,” he said. component of this WANTED INVESTMENT building. Partially The project - which willPROPERTY feature a 100-room hotel, $500,000 to $1,500,000 with close to tenanted at the corner of 12th and Arbutus in 20 luxury residences, seaside mineral pools, a fitness a 6 cap, retail or strata office possible, the acclaimed LUZON development. Arbutus centre, The Snug pub, the David Foster Foundation Greater Vancouver or Kelowna, quick close corridor. Huge development happening in Theatre and a fine-dining restaurant - already has for a good property. the immediate area. $2,988,000 a management crew of 24 at work in the completed Contact Pope at 604-318-5226 administrative wing of theKris property. -30-

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

•

FRANCHISE

•

BUSINESS

•

DEVELOPMENT

COMMERCIAL BUILDING FOR SALE $1.198M

NORTHERN, BC HOTEL FOR SALE $3.49M • Large-Motel with Property • 72 Rooms, High Exposure, Prime Loc. • Additional Lots avail, in price • Well Recognized brand • Full service large Restaurant • High profit, Call for Details. .

• Busy Langley Downtown-C1 Zoned • 2 levels with multiple units and tenants • Great Street Front Exposure. High Revenue • Perfect for Professional Services, Realty, • Lawyer’s offices, Doctors, Education.. • Upper level available for Lease Option as well

• Established Long Term Location • High Revenue with Future Expansion Opportunity • Government Approved with Subsidy • Consistent Year Round Enrollment

• Large building-6600sqft Corner Lot, High Traffic • Upper 4 bedroom-2bath-2decks • 2000sqft Unit Lower • Set up for grocery-can easily be converted

COMMERCIAL & RESIDENTIAL PROPERTy - $939,000

DAyCARE wITH PROPERTy $769,000

Multiple commercial options available. VISIT www.RAjThIND.COm fOR mORE INfO

RESTAURANT

•

AwARD wINNING BURGER FRANCHISE

FRANCHISE

•

BUSINESS

RESTAURANTS & FRANCHISES

HUGE EXPANSION OPPORTUNITY. Aggressive Alberta Prime Yaletown Deli & Lounge - $998,000 - Huge Sales Volume- HIGH REVENUE - Busy Event Nights Expansion is now under way. This top franchise is now - Trademark & Franchise Concept in Place set to open in Alberta. CALGARY is SET FOR INITIAL EXPANSION, CALL TODAY FOR A FRANCHISE PACKAGE. Rockwells in Surrey - $800,000 - High Profit Restaurant INITIAL PLACEMENT IS LIMITED - FRANCHISE Lounge - High End-Located in Brand Hotel INCENTIVES AVAILABLE. LOWER MAINLAND LOCATIONS Saffron - $268,000 - High Profit Indian Concept AVAILABLE: - Granville Broadway ..................$269,000 - Sechelt Location - High Net Income - Lonsdale - Fully Renovated .....$249,000 Quiznos Coquitlam - $190,000 - Aberdeen Mall .........................$239,000 Panago Tsawwassen - $390,000 - Pitt Meadows ...........................$369,000

Raj Thind

PERSONAL REAL ESTATE CORPORTATION

778-554-(sold) 7653 rthind@sutton.com

www.rajthind.com

West Coast

A16 Lower Mainland FrANChISe OppOrTuNITy

Blenz Master Franchise in Vancouver, Vancouver Island, Ontario & Alberta Blenz Franchises �� $188K, $259K Steamrollers Franchises Available �� $179K Wired Monk Individual Franchise Opportunity Wired Monk �� $67K - $99K - $149K Wired Monk New Franchise - Fraser Hwy Langley ��$278K Sandwich Tree master franchise opportunity ��$235K

www.matthewmoadebi.com www.vancouverfranchise.ca

www.westerninvestor.com OCTOBER 2012 WESTERN INVESTORW

FOR SALE in METROTOWN Over one acre of land and old strip mall has been approved to build over 100,000 sq feet commercial and residential. Presentely revenue over $200,000 per annum. For private consulation or more details.

SAM or JIM at 604-761-0172 For More Details And Confidential Discussion

Matthew Moadebi

R O YA L G R O U P TAPESTRY REALTY

604-329-6771 (Cell)

#104-13049-76 Ave

m.m7430@gmail.com

John Klassen / Bill Bartleman 604-859-2341 re/maX little oak abbotsford RETAIL Clearbrook Rd – 420sq ft & 800sq ft – ground floor

alDerGroVe

– retail 3000sq ft – $11.00+triple Net

Rare Combination 3 Storey • 4474 West 10th Ave • Perfect store front • 2770 Sq ft residence top floor • Gound & 2nd floor commercial-retail • 3 Car garage • Superb location MARK RAYMOND RE/MAX SELECT PROPERTIES 604.671.3003 mark@markraymond.ca

CHILLIWACK AVIATION PARK UNITS FOR SALE/RENT

OFFICE

South Fraser Way –1475 sq ft ground floor – $15.00 + triple net – lots of parking

oFFiCe mcCallum rd – 1130 sq ft grd floor – $13.00+triple net

oFFiCe sPaCe - Clearbrook

Central Location 300-3000 sq ft, very good rates

VANCOUVER BC SPORTING GOODS STORE Established sporting goods store. This store received the Couriers Readers Choice Award since 2007. Income to owner operator $75,000. Priced at $99,000 plus inventory.

VANCOUVER BC UNIFORM SHOP

www.chilliwackaviationpark.ca

FOR INFORMATION CALL: 604-793-5938

MLS (open to offers)

5 ACRES Excellent Sub-Division into ½ Acre Lots

5810 – 152 Street, South Surrey (Sullivan Station area)

REDUCED to $7,288,000

BILL PARSONS 604.590.4888

wparsons@shaw.ca

FraserValleyHomeSeller.com “It’s the Experience!” 604-859-2341 • 1-800-668-8661

Sales over $500,000 per year established over 30 years net profit to owner $90,000 per year Owner works short hours. Priced at $209,000 plus inventory. Please contact

RE/MAX SELECT PROPERTIES

West Point Grey, Vancouver, BC

Iain MacDonell 604-328-3929 www.macdonells.com

$3,900,000

26245-28th Ave. Aldergrove Just listed! 2.41 acres with approx. 21,000 sq ft building built by current owners. Ideal for continued church/temple use, or possibly school, nursing home, offices or combined with an industrial use. Modern, level entry design has spacious foyer that separates an approx. 300 seat auditorium, large fellowship room with kitchen, & connects to 9 large classrooms, plus admin. offices. Building has an elevator, lots of storage space, & has been very well maintained & updated. Lots of paved parking. Currently occupied but quick possession is possible or may be leased back for up to 2 years if buyer wishes. Call Alan now for more details & viewing!

LANGLEY, BC

FOR SALE

LOT & BUILDING ( Share Sale )

1.6 Acre / C-3 Commercial Zoning / Excellent Location - 232 St + Fraser Hwy Corner lot / Big Potential !!! $ 2,380,000 MICHAEL LEE Prudential Sussex Realty Cell 604-328-8405 mymichael36@gmail.com

PRINT SHOP – building & business with equipment, 26 yrs in business, well established $699,000 GAS STATION, building land equipment included, all updated 3.5 ac land 5 legal lots. $1,288,000 MOTEL 30 rooms well established, good location, building in excellent condition. $1,088,000 RESTAURANT, 27 years in business. Building, land and equipment included $788,000 WHOLESALE BUSINESS VANCOUVER, over 35 years in operation, good location, handling many exclusive products. $48,000 plus stock Please call

RICHARD PODGURSKI

RE/MAX Masters Realty

Cell:

604-961-5665

richard@expertrealty.ca www.expertrealty.ca

Kitsilano RestauRant 2685 Arbutus St. (at 11th) Price $199,000 - 2685 Arbutus - Gramercy Grill - 1800 s/f - 60 seats + 24 on patio - Sales - $1Mil, $50K Net - American cuisine, Est. 12 yrs - Priced for quick sale Bring Offers Mixed use Building 337/339 E Hastings (Near Main) Price: $1,388,000 - 337/339 E Hastings, 3 lvl, 6166 s/f - 24 years old - Concrete Block Const. - Fully rented at $6800/mo net - 3 parking stalls at rear, sec. gated davie RestauRant 1175 Davie St. (Near Thurlow) Price: $199,000 (sales: $50k/mo) - Laziza Modern Mediterranean - newly established (Jan 2012) - West End loc. 1500 s/f w/48 seat - 8yr lease + 5yr option, $7250/mo all in CoMMeRCial stRata units 102/103/104 – 1625 Hornby (at beacH) Total 943 s/f (3 S/L’s) Price: $829,800 1740 – 4311 Hazelbridge Way, rmd Was used as a clothing store, was rented @ $1700/mo. Strata Fees $400/mo. Lowest priced unit in Parker Place Mall. Price: $169,000

Les Twarog (604)671-7000 1428 W 7th Ave., Vancouver, B.C. To view listings please visit:

www.6717000.com/biz Sept 2012

Crest Realty (Westside)

WESTERN INVESTOR OCTOBER 2012 www.westerninvestor.com

Lower Mainland A17

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A18

www.westerninvestor.com OCTOBER 2012 WESTERN INVESTOR

FEATURE “Devolution” seen as key to sustainable – and likely still slow – development in the NWT

Northwest Territories

from 2006 to 2011, according to Statistics Canada. Yellowknife saw a modest increase of 545 people in the same period.

WI STAFF

The economic future of Yellowknife – and of the N.W.T. – is now based on diamond mining. The Ekati diamond mine, owned by BHP Billiton, opened in 1998; Rio Tinto’s Diavik diamond mine began five years later. Today, both are sunsetting. Currently, DeBeers operates the Snap Lake diamond mine, where it has begun to cut production. The sparking diamond news now is DeBeers’ $600 million Gahcho Kue mine project, which could be in production by 2014, two years later than the company had originally planned. DeBeers has filed a 19-volume environmental-impact assessment to regulators, to get decisions rolling. The plan addresses the expected impact on caribou habitat and the draining of the large Kennedy Lake.

WESTERN INVESTOR

Photo: Geo Location

McLeod used the platform to extol “devolution”: the transfer of powers from the federal government to the N.W.T. “Devolution will be the key to ensuring that development in the Northwest Territories is controlled by northerners and is in the best interests of all our residents,” he said. Unlike the provinces and Yukon, the people of the N.W.T. do not control their own public lands and resources, including rights in respect of water. Decisions on whether and how to develop public lands and resources in the territory are still made by the federal government. Resource royalties from that development flow directly to Ottawa rather than directly benefiting residents, McLeod explained. “We believe the transfer of this responsibility from Canada to our government is overdue,” he said. According to a devolution report from the N.W.T. government, such an agreement would spark about $28 billion in direct and indirect revenue for the northern territory. “We are currently negotiating a devolution agreement that will finally see responsibility for public lands and resources move from federal control to the hands of the more

Photo: Government of the Northwest Territories

hen Northwest Territories Premier Robert McLeod spoke at a water-policy conference last month in Vancouver, it was apparent that a new resource-sharing agreement with Ottawa was on his mind.

The $180 million Deh Cho Bridge over the MacKenzie River may complete this year, two years late and well over budget. LEFT: N.W.T. Premier Robert McLeod: “devolution will be the key.“

local, responsible and accountable territorial government,” said the premier. McLeod captured headlines recently when he suggested that Alberta oil could flow north through the N.W.T. if the Enbridge Northern Gateway pipeline is not approved (see “Trio of pipeline options,” page A?). He said his territory backs resource development, but only if it is sustainable: “It does not mean development at any cost.” The N.W.T. certainly needs more investment, the premier noted. While rich in resources, “the people of the Northwest Territories are still faced with unemployment, poverty, housing and infrastructure challenges, and high cost of living.” And, if it weren’t for government jobs and

direct-benefit payments, the N.W.T. would be really suffering. Of the territory’s 42,500 residents, more than 7,600 work for some level of government, most in the capital city of Yellowknife (population 19,200). Besides the N.W.T. government, major employers are the federal government and the City of Yellowknife. The territorial government provides its staff with an average salary of $73,589; approximately 15 per cent of this is made up of paid leave, similar to other government jobs. Despite the resource potential in the N.W.T. – from diamond mines to ore and oil discoveries – the territory is the only area in the country to see a decline in population

Diamond play

Glacial pace

Delays in getting any sort of development done are, apparently, a major obstacle to N.W.T. progress. McLeod’s musing about a northern oil pipeline, for instance, is based on a gaspipeline route through the MacKenzie Valley. That $16 billion development has been debated for more than 40 years. A more concrete example of N.W.T. delays is the controversial Deh Choo Bridge across the MacKenzie River. Work started on the 1.1-kilometre bridge in 2008 and is not expected to complete before the end of this year. That’s two years behind schedule and, at $182 million, at least $15 million over budget.u

Lower Mainland

UCE

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WESTERN INVESTOR OCTOBER 2012 www.westerninvestor.com

FEATURE Alternatives show Northern Gateway not only route to move oil from Alberta to Asia

Trio of pipeline options FRAnk o’bRiEn

taglu

WESTERN INVESTOR

YUkon

s hearings opened last month on the proposed $6 billion Northern Gateway pipeline, it’s clear there’s major resistance to the project.

Fort Simpson

kitimat

✪ aLbERta

Edmonton

oiLSanDS

bRitiSh aLbERta CoLUMbia Calgary

Map: Western Investor

Enbridge Inc. wants to build a 1,170-kilometre dual line from the Alberta oilsands to a marine terminal in B.C. that would ship 585,000 barrels of crude a day and require tanker traffic from Kitimat. The company filed its opening statement for the controversial pipeline in Edmonton on September 4. Protests against the pipeline have come from First Nations, environmentalists, B.C.’s New Democratic Party and from such northeast B.C. communities as Terrace, Prince Rupert and Fort St. James, all three of which voted against the proposal. A survey released by Abacus Data as the hearings opened showed 56 per cent of British Columbians are opposed to the project. “We have too much to lose here, in Fort St. James in particular,” said Mayor Rob MacDougall following a unanimous district council vote against the project. He added that rivers and lakes in the region could be impacted if there ever was a spill. The line’s also sparked a battle over potential revenue sharing between B.C. and Alberta. B.C. Premier Christy Clark wants a better revenue-sharing deal without further taxing Enbridge. Alberta Premier Alison Redford has said B.C. won’t get any of the oil royalties, because such a deal would alter the conventions laid down at Confederation.

n.w.t.

Manitoba SaSkatChEwan

Map shows three possible pipeline routes to move oil from the Alberta oilsands to Asia. A: the Enbridge northern Gateway running west from Alberta to kitimat; b: northern route, flowing north through the Mackenzie Valley in the n.W.T. to the beaufort Sea; and C: the TransCanada pipeline proposal that would see oil flowing south to Calgary and then east to refineries in ontario, Quebec and new brunswick.

The hearings resume this month (October), moving to Prince Rupert and Prince George, where the focus will be on environmental risks and contingency planning.

Alternatives

Judging from the West Coast resistance, other options for getting bitumen from the Alberta oilsands to offshore customers are expected to gain traction. While none of the alternatives is as far along in planning as the Northern Gateway, they’ll likely be fleshed out quickly if Enbridge fails to win environmental or political approval. The two options are to run the pipelines east or north, not west. For the eastern route,

TransCanada Corp. is proposing a $5.6 billion East Coast pipeline that would carry large volumes of western crude to refineries in Ontario, Quebec and New Brunswick. “This project is in the early stages of development, exploring the technical and commercial viability,” said TransCanada spokesperson Grady Semmens. Semmens noted that TransCanada already has a crude oil pipeline linking Hardisty, Alberta, to its Canadian Mainline pipe route that runs east and south. A portion of the Mainline was converted from natural gas to oil service between Alberta and Manitoba for Keystone, which then heads south in the U.S. from Manitoba. Keystone has delivered more

A19

than 280 million barrels of crude oil to the U.S. since it started service in July 2010. TransCanada’s proposal would send 625,000 barrels a day across the country to Montreal, Quebec City and, potentially, Saint John, N.B., where Irving Oil Ltd. runs a large refinery. Tanker exports could then take the crude to Europe or Asia. TransCanada has the advantage of using substantial existing pipe, while Northern Gateway requires more than 1,000 kilometres of new pipe. Estimates say oil moving by Northern Gateway would cost $5.20 to $8.20 a barrel to get from Alberta to Shanghai; the East Coast project, TransCanada estimates, would cost $8.50 a barrel. Meantime, Northwest Territories Premier Bob McLeod floated an idea recently, according to CBC, that Alberta should consider a northern route. Such a pipeline would run oil through the N.W.T. to the Beaufort Sea, where it would be loaded on tankers. When Western Investor contacted McLeod’s office, however, it was apparent the premier was trying to distance himself from the proposal, which would roughly follow the planned route for the McKenzie Valley pipeline plan, but in reverse. The prospect of an oilsands pipeline running through the N.W.T. to the Arctic is already stirring protests from aboriginal groups who battled for years for a stake in the proposed Mackenzie Valley natural-gas pipeline that would run from the Beaufort Sea through the territory and into Alberta. Either way, the stakes are huge. An updated report on the economic impacts of shipping oilsands crude to Asia notes access to the exploding Asian markets would boost Canada’s GDP by $312 billion over 25 years (about $9 billion a year) and bring in $98 billion in government revenue.u

Lower Mainland tagly

YUkon nwt

Fort Simpson

kitimat

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

We Value Canada

STORAGE FACILITY

1.3 acres with 16 storage bays, office, 21’x41’ shop/bay with 3 phase power. Fully fenced, easy highway access, good exposure, room for expansion, just minutes south of Powell River. $349,900

CONVENIENCE STORE Only store in the Townsite community. Turn-key w/ ATM, Lotto & Keno, seating area, deli. Bright, clean, well maintained. Office & storage in basement. Building & land included, stock added at cost. $189,900

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Edmonton bRitiSh aLbERta CoLUMbia

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102 acres fairly level land; many possibilities; easy access; in ALR $569,900 2

Spruce Grove

✪ FoRt SaSkatChEwan Sherwood Park Edmonton

Stony Plain

Red Deer

Consult an AIC professional. Retain the services of those who hold the AACI, P.App or CRA designation. Calgary

210 - 10451 Shellbridge Way, Richmond, British Columbia V6X 2W8 t: 604.284-5515 • f: 604.284-5514• info@appraisal.bc.ca • www.appraisal.bc.ca

A20 Lower Mainland

www.westerninvestor.com OCTOBER 2012 WESTERN INVESTORW

FOR SALE

LIQUor StorES, PUbS, HotELS/MotELS

DEVELOPMENT SITE VICTORIA FOR SALE 1.74 ACRE 168 UNITS ........................................ $12.95M INDUSTRIAL PROPERTY DELTA, BC I-I ZONE, 11,680 SF BUILDING ON ½ ACRE . $1.699M OFFICE SPACE FOR SALE/LEASE 2002 SF AT 6TH AND SPRUCE ............................ $1,050,000 OR $23/SF PLUS OPERATING. 2 LIQUOR STORES FOR SALE SALES $4M & $2.7M ................. CALL FOR DETAILS 2 LIQUOR PRIMARIES DOWNTOWN VANCOUVER PRICED @ ............... $1.1M & $1.8M

nanaIMo PUb & LIQUor StorE 2½ acres. Land & buildings. Asset sale. includes 2 suites. brInG oFFErS!!

Edson, AB – 148 sites – 21 ac ............. 10,700,000 Edson, AB – 93 pads – 15 ac ................ 7,300,000 Golden, BC – 101 pads, 13 acres ........ 5,900,000

caMPbELL rIVEr PUb & LIQUor StorE In bUSy SHoPPInG

Edson, AB – 200 acres – Development .. 5,727,000

cEntrE. rEDUcED to $1,450,000 For SHarES. QUIck PoSSESIon.

Alex Yuen (PREC)

North Battleford, SK – 60 pads, 9.58 ac ..2,700,000

Dir: 604.338.1800 Off: 604.926.6718 alex@alexyuen.ca

SUrrEy PUb In bUSy SHoPPInG cEntrE PrIcED bELoW rEPLacEMEnt coSt. GrEat tErMS. GooD LEaSE. QUIck PoSSESSIon. try yoUr oFFEr!

Invermere, BC – 31.48 acres MHP site ......1,900,000 McLeese Lake, BC – 69 pads, HSE, 25ac ......950,000 Langenburg, SK – 60 pads, 14 acres ......... 927,000 Radium, BC – 9.77 acres, Cml Hwy Frtg .... 900,000

5 Gas statioNs witH laND & bUilDiNGs

SUrrEy PUb & nEW 4000 Sq Ft LIQUor StorE. Land & bldgs. Plus commercial rental income. $4,250,000

Houston, BC – 20 pads, 33 RVs 23 acres .. 895,000 Clinton, BC – 26 pads, 4.6 acres................ 525,000 Houston, BC – MH & RV Park, 40 ac+/- .... 299,000

Liquor StorES - PubS - HotELS don ’t have It lIsted we wIll fInd It for

fraser valley, over ½ acre land, 4500 sq.ft. building, 2 road frontage, fiber glass tanks, 4 dispensers, lots of parking, good gross and net income. Price $2.9 Mil fraser valley, gas station, c-store, 5 dispensers with chip system, high volume u/g fiber glass tanks. Busy road, over 3 million liters gas sales and over $3000 daily c-store sales. only $1.99 Mil

you !

barry bock / Don kaytor

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

Homelife Glenayre Realty

Homelife BencHmark TiTus realTy

www.mobileparks.com

604-575-5262

604-599-9287

Fax (604) 575-2214

Email: barry_bock@telus.net

fraser valley, gas station, 6 dispensers, brand new with chip system, high volume underground f/g tanks, electronically monitored, 4 million liters gas volume, $3000 daily c-store sales plus propane sales. Excellent gross and net income $2.99 Mil

www.barrybock.com

Gas statioN with land and building, over 3 million liters gas and over $1.5 million c-store sales. Priced at $2.4 Mil UPPer fraser valley, over 8 acres land, gas station, land and building, c-store, house restaurant, all in one price at $1.1 Mil iNvestMeNt ProPerty iN cariboo Land & Building leased for $4000/mo. $385,000 Motel 16 Units, Restaurant & Pub. Over 4 acres commercial land. Lake front on major hwy in Cariboo area. $450,000 for More Details call or visit My website:

PAMMI MANDAIR Cell: 604-825-8121 OffiCe: 604-859-3141

pammimandair@gmail.com www.pammimandair.ca

glenayre realty

Ray Veenbaas LITTLE OAK REALTY 604 309 0257

Call Ray or Richard for all of your Real Estate Needs! email us at richardtherealtor@hotmail.com

1-800-668-8661

"All offices independently owned and operated"

Richard Riemersma 604 309 8541

RESIDENTIAL, COMMERCIAL, INVESTMENT & AGRICULTURE

Little Oak Realty

INVESTMENT REVENUE

FEATURED PROPERTY

BUSINESS OPPORTUNITIES

New westmiNster Office (4 strata UNits) Shows $35,000 net annual income. Asking $711,000

BC’S BEST BUSINESS DEAL!!!

steakhOUse aNd iNdiaN bUffet - Great location & Great lease. Reduced to $199,000

abbOtsfOrd Office / retail Office miX - Shows $52,000 net annual income. Asking $849,000 affOrdable mUlti-teNaNt Office Building with stable revenue. Asking: $988,000 mUlti-teNaNt iNdUstrial bUildiNg - in excellent area. Easy to rent small units, never vacant. Asking: $2,425,000

DEVELOPMENT SITE 98 UNit mUlti-family site Close to shopping centre, hospital, recreation and lakeside walking trails (Plans available) Asking $2,900,000

GREAT CAShFLOW EASy TO OpERATE, SELLER WILL TRAIN

Asking $2,000,000 (pLUS INVENTORy)

TF 1-800-668-8661

SOLD

thai fOOd restaUraNt bUsiNess Most popular in town. Asking: $179,900 fraNchise restaUraNt on major highway in a flagged motel. Comes with a bonus 12,000 sq ft banquet hall. Asking: $389,000

maNUfactUriNg bUsiNess gOiNg cONcerN laNd, bUildiNg & bUsiNess seller may maNage fOr New OwNer, Or bUy OUtright aNd take tO NeXt level.

askiNg $4,000,000

#9–2630 Bourquin W., Abbotsford

"EACH OFFICE INDEPENDENTLY OWNED & OPERATED"

WESTERN INVESTOR OCTOBER 2012 www.westerninvestor.com

FEATURE Vancouver businesses are lured across the Fraser by better space and lower lease prices

A21

FRANK O’BRIEN

WESTERN INVESTOR

aljit Grewal thought she would be gambling her small business when she decided to move its location to Surrey from the East Vancouver location she’d been renting since 1985. Now, five years later, the owner of the Bride and Groom Shop says it ranks among the best business decisions she’s ever made.

“It was chaos in Vancouver,” said Grewal, adding that the rent kept increasing for her small shop in a string of old storefronts on East 50th Avenue and Main Street, despite the fact that parking was a problem, the building was falling into disrepair and traffic into her store was declining. By the time she left, her rent for 1,000 square feet was topping $2,000 a month. In Surrey, Grewal purchased 800 square feet of contemporary space in a new Newton-area business park for $225,000. Recently she expanded, taking an adjoining 1,200 square feet of strata space for $364,000. Her monthly mortgage payments are now about the same as she would be paying to rent half the space in East Vancouver, she estimates. “Business is good.” Grewal said, noting that many of her former Vancouver clients have also moved to Surrey over the past few years. Derek McIver also followed his clients to Surrey, leaving aging East Vancouver office space for larger, more modern digs at 152nd Street and No. 10 Highway in April of last

year. “We needed a more central location,” said the sales director of iFreedom Financial Services, adding that most of his brokers and potential clients already live south of the Fraser River. iFreedom had been leasing 1,500 square feet of “Class B/C” space on Fraser Street at East 30th Avenue for $29 per square foot. Its new 2,800-square-foot Class A office in a Surrey business park costs $31 per square foot. “We were able to upgrade the quality of our building and keep our square-foot cost about the same by moving out to Surrey,” McIver said. “And we now have lots of free parking.” The move has paid off spectacularly during the first year. iFreedom now has 34 brokers, compared with a maximum of 15 in Vancouver. According to McIver, the company is better located to serve its core clients: middle-income families. “In Vancouver now, people are either wealthy or they’re poor,” said McIver, who grew up in the city but now lives in Burnaby. He notes that many Vancouver families move to Surrey for more affordable housing.

Home first

Being closer to home is a key reason why Vancouver businesses are decamping to B.C.’s second-largest city, according to Jordan McDonald, a former Vancouver commercial realtor who co-founded Frontline Real Estate in Surrey in 2010. He explains that many people first move their home to Surrey, and then their business.

Photo: iFreedom Financial Services

Surrey bound

Derek McIver, sales director, iFreedom Financial Services: the company moved operations from East Vancouver to Surrey in 2011.

It is the “dynamic economy” of Surrey that attracted McDonald, who said many major companies are looking for satellite offices in a city that welcomes an estimated 1,000 new residents every month. Frontline has grown from a staff of two to more than two dozen since it opened. “We are able to hire top Vancouver brokers for less money because they live in the Fraser Valley and don’t want to commute to downtown [Vancouver] anymore,” McDonald said. While less traffic congestion is often cited as key, Surrey’s overall lower cost for doing business is likely a major lure. For example: the city’s business tax rate, at $15.90 for each $1,000 of assessed value, is the lowest of any Metro Vancouver municipality (it is $17.70 in Vancouver). And, while net commercial lease rates are similar to secondary Vancouver locations, Surrey space is often newer and demands less in taxes and operating costs, McDonald explained. The number of businesses moving from

Where new businesses set up in Surrey Neighbourhood 2012 to date* % of total City Centre Cloverdale Fleetwood Guildford Newton South Surrey Whalley Total

87 160 127 154 436 219 141 1,324

7 12 10 12 33 17 11

*First seven months Source: City of Surrey Economic Development

Vancouver to Surrey is hard to nail down, but Surrey registered 2,334 new business licences last year, up 8 per cent from 2010. In the first seven months of this year, 1,324 new businesses opened. Non-home-based businesses account for 36 per cent of all new-business licences, according to Michael McGreer, an economic development analyst with the City of Surrey.u

Lower Mainland

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BcHotelsForSale.com 

             

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Gas Stations Liquor Stores Motels

A.J. Jaswal 604-780-5244 Sutton-Premier Realty

D E L TA G OL F C O UR S E

 

 

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  

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  

Call for details.

HamisH Ross

Rare opportunity to own ten acres close to horse trails, parks and golf facilities. Large 4500 sq. ft. home with two huge detached workshops, 25 stall equestrian centre with suite and outdoor paddocks + revenue!

604-376-7687 info@hamishross.com

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. This property can be purchased with, or without tenants.

To view call: Rae Forest

604-791-2179

Real Estate Agents

TEN ACRES BY

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 

Raman Arneja 604-355-1000

LONG TERM INVESTMENT FOR SALE $2,950,000

WhEELEr ChEAM

CHILLIWACK AUTO CENTRE Fully-leased, a-1 maintenance, good income $1,380,000 VANCOUVER DEVELOPMENT SITES 1) Build 60 townhouses 2) Mixed commercial/residential SURREY & LANGLEY HOTELS Several good packages from $3.8 million RESIDENTIAL DEVELOPMENT SITES Near freeway: - small to large parcels

RAY LEWIS West Coast

West Coast Realty LangLey

604-812-9733

A22 Lower Mainland/Sea to Sky/Sunshine Coast Powell River, BC Tree Frog Bistro $325,000

4726 Sunshine Coast Hwy

$1,179,000 OCEAN FRONT WESTERLY EXPOSURE, 11 units C-3 tourist commercial zone, 120 ft Hwy frontage TINA KAIZER 604-741-5066 (cell) Toll free in BC 1-800-895-4313 tinak@dccnet.com www.livecoastlife.com Oceanview Realty

TWO COMMERCIAL BUILDINGS SIDE X SIDE

ML#V4021517 “The Dock” Sechelt Now $1,190,000

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 St, Sechelt

Now $779,000

Commercial building, 5,300 sq. ft. with excellent tenant located right next to “The Dock” also for sale. Prime location on the main street with upgrades and high visual presence. Triple net lease.

Business only - Owner retiring. Ocean view downtown restaurant. Popular with locals & tourists. Dining, banquet room, 2 patios. Winner of two Horizon Awards 2012 24 HR INFO CALL 1.800.848.1615 ext 1488

Neil Frost 1.604.483.6345

MOBILE HOME PARKS

• Mobile & RV Park, Kamloops, 37 Mobile sites (full) plus 25 RV sites, 15 acres of land,City water & Sewer Asking: $2,400,000 Cell: 604-626-6783 charleschi@email.com

RE/MAX Sea to Sky Real Estate Squamish

A very profitable Whistler Restaurant 4368-116&108 Main Street

his popular French creperie restaurant has been in business since October 1997 and has developed a loyal clientele by providing consistent quality food in a cozy and clean environment with excellent service. Since the Olympics, the sales growth has been very strong. Its prime location and proximity to free parking adds to the customers’ convenience.

$859,000

For more commercial listings and information on the commercial market in Whistler visit:

Call Allan for a complete information package.

Charles Chi

1-800-895-4313

30 Unit Multi-Family Dwtn 28,000 SF buildable $1.08 mil 59 Unit Multi-Family Dwtn $2.15 mil 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 1 Acre Light Industrial lot $699k

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

• Mobile Home Park, Alberta 58 Mobile sites (full), 10 acres of land, City water, City sewer service. Asking: $1,850,000

terry@thebrackettgroup.com SECHELT Remax Oceanview Realty

Alan Jenner Premier Realty

UNIQUE PROPERTIES FOR SALE IN BC FAIRMEADE FARM - Langley •

SQUAMISH INVESTMENTS

4.2 Acre, 71 Unit Multi-Family $3.75 mil 11 Acre Motel/Campground/Hotel Site Holding income campground/motel $1.10 mil 14,280 SF Dev Site Dwtn Bank Corner at key intersection $675k 2.1 Acre Residential Site 6-8 Single Family or Duplex Lots $750k 0.54 Acre Retail Site Backing on 3 Malls $1.999 Mil 0.84 Acre Multi Family Site In built neighborhood $925k

FOR SALE crepe montagne

FOR SALE

T E R RY & PA M B RACK E T T

WESTERN INVESTOR

NEW LISTING: 156 Acre equestrian estate. This property has an expansive and historic main residence, guest house and 3 caretaker or employee homes, a tennis court and large in-ground swimming pool. Very private with frontage on the Salmon River, 232nd Street and 64th Avenue.

BOAT HARBOUR DEVELOPMENT LANDS - Nanaimo • 15+ Acres with over 3,000 feet of waterfrontage on Stuart Channel overlooking the Gulf Islands. This property has the immediate potential to be subdivided into 6 waterfront lots. Offers excellent accessibility and the possibility for long-term moorage at neighbouring Boat Harbour Marina.

604-905-9589 allanjenner@wrec.com

www.whistlerrealtor.co or www.allanjenner.com

www.AlbertaInvestor.com

WANTED:

APARTMENT BUILDINGS AND MULTI-FAMILY SITES IN BC & ALBERTA WE ARE LOOKING TO PRESENT YOUR REAL ESTATE PROJECTS TO CHINESE INVESTORS

WYNDANSEA DEVELOPMENT LANDS - Ucluelet • 360 Acres with extensive waterfront on Vancouver Island’s rugged west coast. Serviced and approved for a comprehensive development. Includes 29 existing strata lots, this property is offered by way of a Court Order, has immediate revenue potential, and is priced below assessed value.

ISLAND WEST RESORT - Ucluelet • Located directly on Ucluelet Harbour, this Court Ordered sale includes a motel, RV park, 84-slip marina, marine pub, tackle shop & store, and a rental lodge. This resort has great redevelopment potential and existing income.

Mark Lester & Alan Johnson SPECIALIZED ASSETS GROUP

T. 604.632.3345 / 604.632.3346 E. mlester@sothebysrealty.ca specializedassets.com

Bring Alberta and British Columbia Investment Opportunities to the Chinese Market Place

INVESTMENT OPPORTUNITIES CAMPBELL RIVER, BC

WANTED WINERY IN ALBERTA OR BRITISH COLUMBIA MINIMUM 50 ACRES OF LAND.

• 3.14 acres • 397 feet of Water Front • Zoned Commercial Four (C-4) • views of Georgia Straight

$3.5 M $2.2 M

JERRY RACZKOWSKI 780-932-2121 • jrcoach@telus.net

RE/MAX REAL ESTATE 10510 121 St., T5N 1L4 Edmonton, AB

Lower Mainland/Vancouver Island A23

WESTERN INVESTOR OCTOBER 2012 www.westerninvestor.com

Victoria BC AcreAges Not in the ALR.

101 acres in Langford $3,300,000 1200 ft of Waterfront

4.46 acres in Saanich East $1,100,000

A1-zoned, potential estate or future subdivision. full detAils on www.brokersAles.cA

Vic Smith munj DuSanj 1-250-479-3333 West Coast Realty

#101/#103-7225 Brown Street, Delta

CHILLIWACK RETAIL BUILDING #3 – 45150 Luckakuck Way

FOR LEASE: Freestanding retail building in prime location on Luckakuck Way with excellent exposure to the Trans Canada Hwy. Same site as Value Village and MJM Furniture and Mr. Mike’s. 60’ x 120’ (7,200 sq.ft.) building with 18’ + ceiling and 18’ wide roll-up loading door at rear (Currently occupied by End of the Roll). Available September 1st. 2012. Asking $12.75/sq.ft. NET (+ net3 costs $2.75/sq.ft.)

$1,599,900

What an opportunity for owner operator or investor! Three 5 year young tilt-up warehouse units available totaling 11,620 sq.ft. Unit 101 & 102 & 103-7225 Brown St. Currently running as International MotorSports. Buy all three, OR buy individually. BONUS: Absolutely beautiful 2,000 sq.ft condo located in unit 101-102 with 10 ft ceilings and a Yaletown feel! Tilbury location, great opportunities with the new South Fraser Perimeter Highway nearby! Conveniently located near Massey Tunnel, Tsawwassen Ferry, Alex Fraser Bridge, USA Border, and minutes from Vancouver! Make your business grow here! Check out 360 Virtual tour online and call for information package! www.fraserelliott.com

fraser elliott 604.728.2845

fraserelliott1@gmail.com RE/MAX Progroup Realty

fuLL SERvicE HOTEL + winE + bEER STORE Must be Sold Due to Family Matter 28 rental rooms, generating $8000 monthly. 115 seat pub plus full service kitchen. Fully renovated hotel incl. new windows, newer roof and full exterior paint. This property was formerly listed at $1.8 Mill.

Asking $1.2 Mil. Seller will look at all offers

DALE SHORTT

Bus: (250)

758-3700 •

Toll Free

1-800-665-8313

Ocean Pointe

640 Trans Canada Highway, Ladysmith, B.C. V9G 1A7 • Email: daleshortt@shaw.ca

NANAIMO & vANcOuver IslANd PrOPertIes FOreclOsure cOurt Ordered sAles

develOPMeNt sItes & lANd

MOrtGAGer WANts tO sell 60 Unit care home facility in Nanaimo. Full facility, great location $5.4 MIl.

$379,000 ½ Acre PrOPertY With large rental home. Ocean view. Subdividable, build 2nd home or re-zone for 8 town homes. Financing available at 2.15%.

develOPMeNt sItes & lANd OceAN vIeW develOPMeNt sIte 21 condos or 8 townhomes. $379,500 FANtAstIc OceAN vIeW rM-5 dev sIte Unrestricted views, overlooks cruise ship pier. Approved for 35 condos, No DCC’s. $729,000 NANAIMO Best BuY! MIdrIse develOPMeNt sIte Located in the Downtown core. Nanaimo: Commercial or condo site. NOW $159,900 2.47 Acre cOuNtrY lOt ZONed FOr 4 HOuses Allows for Bed & Breakfast, dog kennels, country market. City water. $298,000 DUPLEX LOT $129,000 • 4 PLEX LOT $199,000 cOuNtrY estAtes develOPMeNt sIte 23 Acres $459,000 50 Acres, $995,000 43 Acres $859,000 Adjoining properties, 1 mile from city limits, Zoned for 5 acre lots 57 Acres WItH PeAt MOss, Beck lAke 17 acres sub-dividable into 2 acre sites. Marketing coal tailings for large exportation contracts located on large aquifer for water or sales. $1,100,000

HOtels & PuBs 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

5 Plex NANAIMO 5 meters, over $4,500 monthly revenue. Covered parking. Storage lockers. Separate meters. Asking $749,500 Just lIsted: 2 HOMes W/ AddItIONAl suIte + 2 cOttAGes Total of 6 rental units. Located on 2 separate ocean view lots. $579,000 5 reNtAl HOMes – All together 5 sep. adj. lots. starting at $169,900 or all for $1,150,000. seller will finance. 10% down at 3 per. 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

cONdOs & HOMes 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. $599,000 reveNue HOMe / 2 lArGe lOts Across the street from university. Ideal property for 4-plexes or student housing. $315,000

dAle sHOrtt

INcOMe PrOducING + reveNue PrOPertIes

Bus: (250)

dIstress sAle, 17,000 sQ Ft WAreHOuse Incl. 7000 sq ft retail store front, plus 2 additional freestanding buildings with large overhead doors on 1.1 acres in the city. Assessed value $1,030,000. Asking Price $529,000 sellING due tO FAMIlY MAtter 17 Acre Farm with beautifully renovated home, large shop, fantastic location. Must be sold. $525,000 cAssIdY HOtel ½ acre property on Trans-Canada close to airport. 8 suites, 135 seat pub, primary liquor license, 3rd fl unfinished for future dev. $595,000

758-3700 • Toll Free 1-800-665-8313

640 Trans Canada Highway, Ladysmith, B.C. V9G 1A7 • Email: daleshortt@shaw.ca

Ocean Pointe

A24

www.westerninvestor.com OCTOBER 2012 WESTERN INVESTORW

FEATURE SiliverBirch plans to spend $240 million in massive rebranding and construction blitz

39 new hotels WESTERN INVESTOR

ancouver-based SilverBirch Hotels and Resorts is embarking on a set of new strategies to increase its portfolio to 39 hotels by 2016 from its current 21 properties.

Key to the expansion is: • reducing the number of hotel brands that SilverBirch operates; • focusing on opening new Hilton- and Marriott-branded properties; • investing heavily in renovations; and • increasing the percentage of hotels for extended-stay guests. SilverBirch plans to spend $90 million this year as well as up to $150 million next year upgrading properties. Back in 2009, the company spent a comparatively paltry $20 million. “We’re a patient company and a long-term investor, so that’s why you see such a high level of investment in each property,” said SilverBirch president Steve Giblin. “A few years ago we had seven different brands and 12 independent hotels. In a month we’ll have all but two of the hotels fully branded.” One of the company’s investments was to rebrand its Cascadia Hotel and Suites on Hornby Street as the Marriott Vancouver Downtown and spend $25 million to renovate the facility, which re-opened July 27, as an extended-stay hotel. Extended-stay hotels have amenities such as laundry rooms and gyms and outfit

their rooms with kitchens. They differ from options offered by companies like Execustay because they have a front desk and a simplified check-in process. Recent data from Atlanta-based hotel consultant Highland Group holds that extendedstay hotels are outperforming standard hotels in revenue growth per available room night – a key industry metric. SilverBirch is also spending tens of millions of dollars in order to renovate its extended-stay TownePlace Suites by Marriott hotel near Toronto’s Pearson International Airport.

Photo: Dominic Schaefer

GLEN KORSTROM/BIV

Candid conference dissects resort sector

REIT roots

SilverBirch’s origins go back to 2007 when BC Investment Management Corp. privatized the TSX-listed Canadian Hotel Income Properties Real Estate Investment Trust (CHIP REIT) and needed a new name. Robert Pratt, who was vice-president of operations at CHIP REIT and then SilverBirch’s first president, said CHIP REIT had bought hotel properties flagged with different brands partly to appeal to a broad range of investors and partly because it had a lot of money from its IPO and was expected to buy properties. Pratt, who has since become president of Coast Hotels and Resorts, said CHIP REIT negotiated many 20-year branding agreements with hotel chains like Quality Inn, Ramada and Radisson. SilverBirch is honouring those agreements, Giblin said, because penalty costs to get out of them early is greater than the benefit of rebranding the properties.

Steve Giblin, president of SilverBirch Hotels and Resorts: “we are a patient company and long-term investor.”

“Probably within the next five or six years we will have almost all of our hotels as Hiltons and Marriotts,” he explained. Focusing on two brands instead of one creates flexibility. But narrowing the number of hotel brands from seven to two enables SilverBirch to negotiate better contract terms with Hilton and Marriott. For example, royalty payments and onetime fees are less for franchisees who operate a dozen Marriotts than for those who own only one. Giblin said that his company’s investments in its hotels and its intentions to build or buy 17 properties in the next few years underscore SilverBirch’s faith in the Canadian hotel sector.u

he stakes have seldom been higher as hotel and resort experts prepare to meet October 3-4 at the Fairmont Waterfront Hotel for the 2012 Western Canadian Hotel and Resort Investment Conference. Top authorities in an industry worth $6.4 billion to B.C.’s GDP will examine challenging economic conditions, buyer preferences and marketing innovations. Conference keynote speaker Jason Clemens, a leading public-policy adviser with the Fraser Institute, will provide insight on the “boom-bust” patterns of the commodity-driven market of the western provinces and how this may affect recreational property and tourism. Clemens will explain how the tax, spending and trade policies of western governments are key future economic indicators. Sessions at the conference include: • Western Canadian Real Estate Market: A revealing look at the hottest market in Canada. Led by John O’Bryan, vicechairman of CBRE Ltd.; • Western Canadian Hotel Market: 2011 sales hit $1.2 billion. Who were the buyers and what was their motivation? Led by Mark Sparrow, director of hotels, western Canada, CBRE Hotels; and • Resort and Hotel Financing: Who are the major players and what are their significant investment criteria in this “post-2009” environment? The session is led by Gary Morrison, managing director, Capital Decisions Inc.

Vancouver Island

NANAIMO & VANCOUVER ISLAND COMMERCIAL

DEVELOPMENT & INVESTMENT OPPORTUNITIES Each Office Is Independently Owned And Operated

NANAIMO - COLLEGE AREA

Development site in the thriving University area. This upscale development of 10 residential lots and 26 luxurious townhomes has all the necessary plans, reports & approvals in place. Development permit for construction can commence within a short period of time. Excellent opportunity for small builder! Call DARWIN MAHLUM for details.

Subscribe 1-800-661-6988

www.westerninvestor.com

NANAIMO- CENTRAL BUSINESSES NANAIMO AREA It’s timeredevelopment to own your own Property.with Excellent Property 3,000income sq. ft. New, Location, holding from Excellent existing Hotel. Great and Access. locationGreat for a Visibility strata of�ce complex where current demand exceeds supply. Located right on Highway 19A with excellent rear entrance and only a few blocks from the Regional General Hospital. details. Call DARWIN MAHLUMforfordetails. Call ROB BORDEN

WOODGROVE AREA Coming Soon!One of the BEST Multi | Care Facility sites in the north of Nanaimo. Over 9 acres cleared with a gravel loamy base. Close to many amenities makes this a perfect multi use seniors� village. Call DARWIN MAHLUM for details.

Call 250.760.1066 NANAIMO -BEBAN PARK AREA

 Quiet No-Thru Road near Bowen Road (on Bus Route).  R6 Zoning Allows 20 4-Plex Units.  Preliminary Layout & Plans Complete.  Not Much Work Left to Obtain Dev.Permit.  Well Below Assessed Value. Asking $699,000  Asking $699,000.

ROBGRONDIN BORDEN Call DAN

DOWNTOWN CHEMAINUS FOR SALE OR LEASE

RARE Opportunity! Land and building located in the heart of Chemainus (the Central Island�s premier tourist destination). Call ROBERT ROB BORDEN or or BORDEN SHARON JENSEN for details.

VANCOUVER INDUSTRIAL Very close to the City - older building of 5808 sq. ft. occupies entire lot. Grade level door, 2 separate offices plus wide open space (except for roof pillars). Owner is currently undertaking environmental one study. ROB BORDEN Call ROBERT BORDEN

NEW

ROO

A25

WESTERN INVESTOR OCTOBER 2012 www.westerninvestor.com

DONE DEALS

From: NAI Commercial, Vancouver. NAI agent Peter Seed sold the following: Deal: 40,000-square-foot medical building with retail outlets on two-acre lot in downtown Kamloops. Capitalization rate at 6 per cent. Price: $6 million. From: NAI Commercial, Vancouver. NAI

From: Avison Young Vancouver. Chris Wieser of Avison Young announces the following sale: Deal: 35-unit rental apartment building, Arrowstone Drive, Kamloops. Sold for Viscount Developments Ltd. to Kelsen Investments Ltd. Price: $3.4 million.

Recently completed a major commercial real estate deal in Western Canada? Send details for a free report here to: wieditor@biv.com.

Photo: HQ Realty Ltd.

Moody. Price: $3.92 million. Deal: 9-unit apartment building, White Rock. Price: $2.29 million. Deal: 81,219-square-foot commercial development site, Fraser Highway, Surrey. Price $3.75 million.

Development site, South Surrey, sold for $3.75 million.

From: HQ Real Estate Services, Vancouver. HQ agents David and Mark Goodman announce the following sales: 40,000-square-foot office/retail buildDeal: 13-unit apartment building, Port ing in Kamloops sold for $6 million.

Photo: HQ Realty Ltd.

From: NAI Commercial, Vancouver. NAI agents Gary Haukeland and JD Murray report the following sale, after two years of listing: Deal: Waterfront building site zoned for 67 apartments and nine commercial units, Marine Drive, White Rock. Price: $4.5 million.

agents Terry Harding and Jackson Tang sold the following, both of which had been owned by the vendors for nearly 50 years. The adjacent buildings sold for exactly the same price to the same buyer. (The price works out to more than $241,000 per “door”). Deals: Two 18-unit rental apartment building, West End, Vancouver. Price: $4.35 million each.

Photo: NAI Commercial

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 recent commercial real estate deals across Western Canada

Nine-unit apartment building, White Rock, sold for $2.29 million.

Vancouver Island

QUALICUM BEACH HOUSE $995,000 October 2012 – Western Investor A done deals / frank / 8 blocks

Unique opportunity to relax and enjoy your own waterfront investment escape! Relax, rent, or share this Photo done deals subject spacious 2 level, 2 suite, fully furnished CUTLINE = Development site, South Surrey, for $3,75building. million.Commerwalksold on waterfront Photo: HQ Realty Ltd. cially zoned. Great for family, friends, or joint venture. Good cash flow. Photo: done deals cardinal trades considered. CUTLINE = 40,000-square foot shoppingPartial mall in Kamloops sold for $6 million.

…Successfully Selling Waterfront & Prestige Properties On Southern Vancouver Island And Gulf Islands Since 1972…

PETER NASH peternash.com bcgulﬁslands.com

Photo: NAI Commercial

Ian Lindsay & Associates Photo: done deal whiterock • RE/MAX First Realty - Parksville ian@ianlindsay.ca CUTLINE = Nine-unit apartment building, White Rock sold for $2.29 million. www.ianlindsay.ca • 1-888-243-1071 Photo: HQ Realty Ltd.

On-line since 1995

for additional info contact

Victoria

o. 250.388.5882 d. 250.384.0566 t. 855.384.6274 realestate@peternash.com

vaNcouver islaNd commercial

Photo: done deals cardinal CUTLINE = 13-unit apartment building, Port Moody sold for $3.92 million. Photo: HQ Realty Ltd.

Head = Done Deals

www.nanaimoremaxcommercial.com

1-877-335-4380

Jay cousins realty

Jay Cousins jay@jaycousins.com

of Nanaimo

LeadFOR – OurSALE readers report on recent commercial real estate sales across Western Canada INVESTMENT INVESTMENT OPPORTUNITIES

Frank Johnson frank@remaxofnanaimo.com

OPPORTUNITIES

www.nanaimoremaxcommercial.com

1-877-423-0984

INVESTMENT OPPORTUNITIES

• TWO COMMERCIAL STRATA UNITS Nanaimo’s north end – • CENTRAL NANAIMO – Almost 2 acres of land fronting on the • PROFESSIONAL STRATA BUILDING CENTRAL • 4-PLEX MULTI-FAMILY PROPERTY IN PARKSVILLE Desirable C3 zoning could allow higher commercial or mixed future uses. 2,525 total Sq. Ft. in Long Lake Business Park. Blow out price at Millstone River, next to the Pryde Vista golf course, and a new high NANAIMO – 975 Sq. Ft. with new A/C, 4 offices plus recep- Canada’s Done Deals is our monthly feature highlighting some of the major real estate transactions completed recently in Western vibrant estate Quality tenants in place,commercial exceptional street real presence ocean views just of $200 per Sq. Ft. Main level (no stairs) & complex has high quality subdivision on a no thru street. Zoning allows for a single tion & kitchen/staff area. Quality professional neighbours & visibility on Old Island Highway. Motivated seller says get them $569,000 from upper suites family unitmarket. with a suite/carriage house. Fully serviced. $200,000 available immediately. $149,000 gone! $529,000 • DOWNTOWN LADYSMITH LANDMARK INVESTMENT • OLD CITY NANAIMO COMMERCIAL WAREHOUSE/OFFICE • MULTIFAMILY DEVELOPMENT SITE - approved for 16 COMPLEX 11,497 sq. ft. main level plus 6,600 Sq. Ft. mezzanine, • 5 ACRES INDUSTRIAL ZONED PROPERTY South of PROPERTY 6,000 Sq. Ft. over 2 levels, full renovations in one bedroomFrom: units. NoNAI Development Cost Charges,, Vancouver. close to Commercial, NAI agents Gary Haukeland and report the following sale, after two years of listing. dock & grade level doors, paved & fenced yard, easy access, Nanaimo, 4,800 Sq. Ft. Steel clad building incl. approx. 400JD sq. ft.Murray 2005, new roof in 2011, income shows over 7% CAP rate at downtown Nanaimo with some ocean views. Development permit corner location. Zoning will allow multi-res, retail, restaurant, ofoffice.67 Close to Island Highway, Telusnine tower on property generatesunits, current Deal: Waterfront building site zoned for apartments and commercial Marine Drive, White Rock. occupancy. Quality tenants includePrice: upper end$4.5 retail,million. in place, vendor financing available or joint venture possibilities. fice, but current configuration favours warehouse & related uses revenue by way of a 30 year lease. Drilled well & septic field yet to MLA office, pilates studio. REDUCED $669,000 $299,900 NAI agent Peter Seed sold the following: $899,000 be finished $699,000 • COUNTRY COMMUNITY STORE WITH LAND & BUILDINGS

• GABRIOLA ISLAND Deal: 40,000-square-foot with retail outlets on two-acre lot in downtown Kamloops. rate at 6 per cent. Price: $6WATERFRONT million. LODGE Includes a FOR LEASE OR SALE medical building DUNCAN AREA – Over 2 acresCapitalization of land, ample parking, large • ½ AN ACRE OF TERRIFIC EXPOSURE NEAR NANAIMO’S turnkey pub/restaurant in a 1 ½ storey rustic log building. 10,000

storage warehouse & terrific exposure. Store BUSIEST THOROUGHFARE 2 Level 4,000 Sq. Ft. building NAI agents Terry Harding and Jackson Tang sold the following, both of which had been owned byhighway the vendors for specialnearly 50 years. buildings forin the Sq. Ft. of The rooms adjacent & dining/eating area. Large sold deck takes with 3,800 Sq,. Ft. showroom/warehouse, lots of parking & izes in animal feeds, garden products, groceries, produce & gorgeous views. Over 4.9 acres of undeveloped land available for exactly the same price. easy access. Industrial zoning has broad uses. 8 Leasable tenant hardware. Inventory to be purchased separately on completion. $1,795,000 further expansion. Info available. offices/warehouse spacesVancouver. show good incomePrice: REDUCED $675,000 Deal: 18-unit rental apartment building, West End, $4.35 million.Information Portfolio. $998,000 • LIGHT INDUSTRIAL ZONED COMPLEX – MID ISLAND • PORT ALBERNI MOTEL COMPLEX 14 Room Motel plus 6 • TOFINO COMMERCIAL/RESIDENTIAL BUILDING Located Deal: 18-unit rental apartment building, West End, Vancouver. Price: $4.35 million. Excellent revenue opportunity currently generating in excess

Unit RV Park, 2 level Managers residence, units fully updated, in downtown core with harbour & ocean views. 2 Commercial of $164,000 annually. Island Highway exposure, easy access, outdoor pool, excellent visibility of highway route to West Coast units on main with long term leases & 3 residential suites 6 buildings in total, all on 2.88 acres. Current rental rates with beaches & resorts, aboveWieser with month-to-month tenancies. 10 parking stalls on sitethe following From: Avison Young Vancouver. Chris of Avison Young announces sale:consistent 11% CAP rate $1,195,000 vacancies filled will show nearly 8% CAP rate. $1,895,000 • MOTEL, CAMPGROUND & RV RESORT IN QUALICUM BEACH $1,299,000 • NORTH NANAIMO WAREHOUSE – Newer 12,106 sqft wareDeal: 35-unit rental apartment building, Arrowstone Drive, Kamloops. Sold for Viscount Developments Ltd.includes to Kelsen Investments Ltd. Price: $3.4 million. 7.1 Acres of prime riverfront property 36 motel house on a 1 acre paved and fenced yard area. Overhead and • PARTLY DEVELOPED PROPERTY LADYSMITH with Plans units, 50 RV camp sites, store, office, manager’s suite, 9 cotdock height loading. Nicely appointed office and showroom plus for single family lots, 4-plex lots & section of land currently zoned • Children’s Toy & Clothing Consignment Store – Ladysmith $44,900 tages,announce 2 swimming pools, waterslide, mini-golf & playground. an additional From: 990 sqft of HQ mezzanine area. Estate Excellent North Nanaimo Vancouver. for townhomes.HQ A lot agents of work hasDavid been done & someMark infrastructure • Franchise Fitness Business South Nanaimo $49,900 Real Services, and Goodman the following sales: Healthy profit picture and 11% CAP rage on asking price.. is already in place. Potential of up to 29 doors $1,600,000 location. For lease @ $9.50 per sqft net. For Sale @ $2.2 million • Used books / consumer services retail – Nanaimo $59,900 Deal: 13-unit apartment building, Port Moody. Price: $3.92 million. REDUCED $2,985,000 $95,000 • Western Wear & Tack Store – Duncan • RARE OCEANFRONT DEVELOPMENT OPPORTUNITY Mid• MULTI-FAMILY RENTAL UNITS – Central Nanaimo. • RE-DEVELOPMENT OPPORTUNITY Existing Alzheimers/ Deal: 9-unit apartment building, White Rock.Island. Price: $2.29 • Seasonal Wreath Business – Qualicum $99,000 Vancouver Currently used million. as an RV Park this walk-on Beautifully constructed half duplexes and freestanding single dementia care facility w/90 beds plus separate residential home • Mid-Island Diaper pick-up & delivery Service $119,900 beachfront property hassite, 4 legalFraser parcels, Highway, full service RV Surrey. sites, Deal: 81,219-square-foot commercial development Price $3.75 million. available for conversion to congregate care or rezone to multi-resfamily homes. 3 bed, 3 ½ bath, ranging from 1760 sq. ft. to 1890 • Casual Dining Restaurant North Nanaimo $169,900 Tenting/Camping sites, rental cabin, residence etc. Current zonidential etc. 44,255 Sq. Ft. building on 1.87 acres near Nanaimo sq.ft. Included: tile and hardwood flooring, custom alder cabinetry, $199,000 • Ricky’s All Day Grill – Ladysmith ing permits RV use as well as resort condominium development, hospital. Society owner will remain with one year lease at current granite countertops, 6 appliances. All bedrooms have a private $249,900 • Ricky’s All Day Grill – Courtenay hotel, etc. Initial research suggest a re-zone could allow up to a 30 market rents during planning/feasibility phase of redevelopment. ensuite with shower and/or tub. $309,900-$349,900 • Sports Retail Clothing & Accessory Store Duncan $249,000 unit single family development. Upper bench of the property has Recently completed a major commercial real estate deal? $4,500,000 • Panago Pizza Franchise Parksville $384,900 dramatic views. 100% share sale. $2,995,000

BUSINESSES

Send particulars for a free report here to wieditor@biv.com FRANK JOHNSON JAY COUSINS

JAY COUSINS

A26 Vancouver Island/Business Opportunities

Restaurant

FOR LEASE: -

AVAILABLE IMMEDIATELY: Fully furnished/equipped restaurant/ bistro/cafe Located on beautiful Mayne Island, BC. Tastefully decorated with a warm and inviting atmosphere and existing client base. Located in elegant arts and crafts Fernhill Centre. For more information contact: DIANA 604-221-6247

OPPORTUNITIES

Wayne Salter 1-800-224-5906 • 250-752-6926 Parksvillewaynesalter@shaw.ca Qualicum Beach Realty

For Sale or Trade Stunning Waterfront Acreages

    

Vancouver Island oceanfront properties (Yellow Point Area) Private 3+ acre lots, one with a large residence and guest cottage Walk-on waterfront with a private bay and seasonal moorage Priced from $1.5M Trades will be considered for development or income producing properties in Western Canada

For more info please refer to Pylades Waterfront Retreats at www.platformproperties.ca/properties or call: 604-563-5002 or email: info@platformproperties.ca

ED HANDJA PERSONAL REAL ESTATE CORP. & SHELLEY MCKAY Your BC Oceanfront Team Specializing in Unique Coastal Real Estate in British Columbia

Ed: 250-287-0011 • Shelley: 250-830-4435 Toll Free: 1-800-563-7322 edhandja@bcoceanfront.com & shelleymckay@bcoceanfront.com

Waterfront Retreat OCEAN VIEW CABINS, ALERT BAY 12 free-standing cabins in immaculate condition, separate manager accommodations, adjacent to airstrip. Minutes from superb fishing, wildlife & unlimited adventure. Great views of the Broughton Archipelago. $1,050,000

703 FLOATPLANE OPERATION Located on the British Columbia coast, this floatplane operation is an established, profitable and well-situated business with an excellent asset base. Domestic and International Licenses, share sale. $1,350,000

Business Is Better On Vancouver Island

COMMERCIAL Lac Des Roches Waterfront Acreage Sub-Division Possible Vendor Financing Cariboo Mobile Home Park 100 Mile House Port Hardy Centrally Located Downtown Strip Mall Campbell River Mobile Home Park with excellent Financials Campbell River Strip Mall -- Fully leased -- Excellent Cap Rate!

CAMPBELL RIVER AIRPORT Exciting opportunity for an aviation related business. 50x50’ hangar, an attached 20x24’ shop, a 2bdrm suite and an office/reception area. 1.119 acre city-lease property with ample parking and outside storage. $250,000

PORT ALICE RENTAL COMPLEX 7-unit building across from the marina and boat launch and just a short walk from local amenities. Low maintenance building, currently vacant. In Port Alice, on Vancouver Island’s west coast. $270,000

www.bcoceanfront.com

OCTOBER 2012 WESTERN INVESTOR

For Sale 2.05 Acre Prime Development Site - North Nanaimo On Old Island Highway adjacent to Long Lake. 3.95 Acre Ocean Front Resort—Tofino Zoned C-5 Tourist Commercial. Property includes 40 room lodge. Light Industrial Land and Buildings - Chemainus 3.83 acres with 5 buildings on site. 253 Acre Development Property - Sproat Lake Area Commercial Land and Building - Downtown Parksville 0.85 acre with 3,870 sq ft building on Island Highway. New Light Industrial Building - Comox 5,200 sq ft on Shamrock Place. Strata Commercial Unit - Central Nanaimo 4,417 sq ft office with 12 offices, boardroom, reception and lunchroom. Partially Constructed Commercial Development - Nanaimo Ample parking and high exposure, zoned COR-2. Commercial Re-Development Property - Downtown Nanaimo 2 legal lots on Victoria Crescent with 4,900 sq ft building. 3.46 Acre Light Industrial Property - South Nanaimo 1.2 Acre Residential Development Site - South Nanaimo Residential Development Property - Nanaimo 4.88 acre property near the Nanaimo Parkway. Commercial Land and Building Zoned I1 - Nanaimo 7,560 sq ft lot with 1,350 sq ft building plus room for expansion. Commercial Property Zoned COR-3 - Nanaimo 2 lots on Kerrisdale Road totaling 19,600 sq ft. Commercial Property Zoned COR-3 - Nanaimo 9,800 sq ft lot with 1,037 sq ft office off Bowen Road. Hangar Building and Office - Campbell River Regional Airport Light Industrial Strata Unit - Central Nanaimo Large warehouse with appointed office space.

$2,595,000 $2,495,000 $1,995,000 $1,700,000 $1,495,000 $ 855,000 $ 849,000 $ 775,000 $ 655,000 $ 549,000 $ 475,000 $ 319,000 $ 319,000 $ 299,000 $ 224,000 $ 199,000 Call for Details

Featured Listings Business Opportunity Established Inn with 41 rooms located in Campbell River. Shows strong positive growth and cash flow over the last five years. Offered for sale at $3,500,000 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 a 9% cap rate. Offered for sale at $2,475,000 Business Opportunity Located in downtown Port Alberni. Price includes rental equipment, inventory, parts, goodwill and land and building Offered for sale at $1,900,000 Family Restaurant and Pub Located on scenic oceanfront property near Campbell River. Features patio seating overlooking the ocean and banquet room. Offered for sale at $219,000 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.

$2,000,000

Green Rock Industrial Park 24 Light Industrial lots, of which 7 remain, in prime Nanaimo Location 9,710 to 59,376 sq ft Excellent highway access and “Green” construction. $199,000 to $834,000

Business Opportunities ESTABLISHED PLUMBING AND HEATING BUSINESS—Nanaimo SEWING MACHINE AND QUILTING RETAIL BUSINESS—Nanaimo AWARD-WINNING KITCHEN AND BATH BUSINESS—Sidney JUMPING JIMINY’S PLAYLAND AND CAFÉ—Nanaimo Well known children’s entertainment business ESTABLISHED HOTEL AND PUB—Port Alberni ESTABLISHED PLUMBING AND HEATING BUSINESS—Nanaimo On 7,560 sq ft lot with 1,300 sq ft building WHOLESALE DISTRIBUTOR BUSINESS ONLY—West Coast WHOLESALE DISTRIBUTOR—West Coast On 1.039 acres with 7,320 sq ft building LIQUOR STORE IN LEASED PREMISES—South Vancouver Island

$ $ $ $

175,000 180,000 149,000 399,000

FRANCHISED MOVING AND STORAGE CO.—Central Vancouver Island LIQUOR STORE WITH LAND AND BUILDINGS—Port Alberni With Commercial Tenant

$2,550,000 $2,600,000

$ 439,000 $ 495,000 $ 549,000 $1,295,000 $1,500,000

Gerry Van Vaals Personal Real Estate Corporation DTZ Barnicke Nanaimo Ltd.

Tel: 1 800 769 5757

gerry.vanvaals@dtzbarnicke.com

www.dtznanaimo.com

Vancouver Island A27

WESTERN INVESTOR OCTOBER 2012 www.westerninvestor.com W h aT ’ s h a p p e n i n g i n

British Columbia

is well underway and will be built out over the next five years at an estimated value of about $250 million. Housing will include a 27-storey residential tower of 208 condos with prices starting at $270,000.

Towering commercial sales best B.C. record

nvestors snapped up $1.42 billion worth of B.C. commercial real estate in the first half of this year, shattering a record set in 2010, with unit sales flirting with an all-time record as well. “With 63 transactions completed in the first six months of 2012 alone, the number of deals that will close this year is also likely to surpass the previous annual record of 99, set in 2010,” reported Avison Young. Most of the action is in the downtown office sector. Deals included the $401 million acquisition of the Bentall V office tower, $115 million paid for a 50 per cent interest in the office buildings at 401 West Georgia, and 800 Burrard Street. Other top deals: the $100 million sale of the Plaza at New Sale of half-interest Westminster Station (a retail centre) and the $81.3 million pur- in 401 West Georgia chase of the Modalink Distribution Hub industrial portfolio. among big deals. “The record level of investment in B.C. commercial real estate during the first half of 2012 is testimony to the stability, strength and desirability of our market,” said Michael Keenan, principal and managing director of Avison Young’s Vancouver office. “We are attractive to all types of investors – private, institutional, public companies and REITs – and activity is limited only by the supply of available product.” More than $700 million was invested in office buildings in the first half of 2012 compared with $499 million invested in all of 2011. The retail sector saw 30 transactions totalling $498 million in the same six-month period. The lack of available quality industrial product remains a primary characteristic of the Metro Vancouver commercial real estate market. While an industrial sales dollar volume of $215 million in the first half of 2012 surpassed industrial sales totals in the first and second halves of 2011, the deals made up only 15 per cent of overall sales volume and 26 per cent of transactions. The multi-family sector saw 18 apartment-building transactions in the first half of 2012 with a total value of $331.5 million compared with 15 transactions valued at $139 million in the second half of 2011 and 20 deals totalling approximately $238 million in the first half of 2011, Avison Young reports.

Victoria developer offers “equity Evergreen Line mortgage” seeks bids

eague Financial Partners is building the tallest tower on Vancouver Island at Colwood, but it is plans for a new kind of mortgage for condo buyers that’s raised eyebrows. League Financial CEO Adam Gant said the company’s equity mortgage program will offer customers a larger down payment in order to avoid insurance premiums and reduce their debt. “We’ve created a whole new kind of mortgage,” he said. “The equity mortgage is the next revolution in home-purchase financing.” Homebuyers will need 10 per cent of the purchasing price, but League Financial will then loan them an additional 10 to 25 per cent in order to qualify for a 65 to 80 per cent conventional mortgage. The mortgage program is designed to allow buyers to avoid mortgage insurance premiums from the Canadian Mortgage and Housing Corp. (CMHC) and qualifies them for a 30-year amortization period. New mortgage rules in Canada, announced in June, reduced the amortization period from 30 to 25 years for government-insured mortgages. Gant said League’s equity mortgage results in monthly payments up to 40 per cent lower than a CMHC-insured 25-year mortgage because no payment of interest or principle is required. Phase 1 construction, mostly retail space,

he B.C. government has released the latest tender for work that will lay the groundwork for major construction of the $1.4 billion Evergreen Line in the northeast corner of Metro Vancouver. Three light-industrial buildings will be modified to accommodate construction of the Evergreen Line guideway along the railway tracks in Port Moody. Work is anticipated to begin after the contract is awarded in fall 2012 and will be completed in early 2013. It is anticipated there will be minimal disruption in traffic, and businesses in the vicinity will be notified in advance if required. The Evergreen Line will open in summer 2016, providing rapid transit for Coquitlam and Port Moody.

Photo: Altus Insite

Vancouver home sales plunge

ugust, like March, is seen as a bellwether month for housing sales, so the plunge in Vancouver-area sales last month may be a harbinger of a chilly fall ahead for realtors. With more than 17,500 homes on the market, less than 10 per cent are selling each month. The Real Estate Board of Greater Vancouver (REBGV) reports total housing sales reached 1,649 in August, down 30.7

per cent compared with August of last year and 21.4 per cent compared with July 2012. August sales were the second-lowest total for the month in the region since 1998 and 39.2 per cent below the 10-year August sales average of 2,711. “Home sales this summer have been lower than we’ve seen for most of the past 10

*PETER HALL / *CHRIS DAVIES - RE/MAX CENTRAL *Personal Real Estate Corporation

1322 - 1334 Adanac Street, Vancouver Two Homes Zoned I-2 with Rear Yard

years, yet we continue to see relative stability when it comes to prices,” said REBGV president Eugen Klein. The board’s Housing Price Index composite benchmark price for all residential properties in Greater Vancouver is $609,500. The benchmark price for detached properties is now $942,100.u

VAnCouVeR ISlAnd Comox Valley •

RETAIL/OFFICE/LIGHT INDUSTRIAL SPACES FOR LEASE $6.00 – 14.00/sq ft

* Entire site surrounded by high security fencing * 1322 Adanac St is improved with a 735 sq. ft. 2 bedroom single story home with low height storage beneath * 1334 Adanac St is a 2 level home improved with 980 sq. ft. on each floor. Each level has separate kitchen facilities and living area. The upper floor has 3 bedrooms while the main floor has 2 bedrooms * Either building can be converted into office space with yard storage. Asking Price: 1322 Adanac St. - $669,000 • 1334 Adanac St. - $829,000

• PRIVATE OCEAN VIEW 2.39 ACRE High density multi-family site �� $2,200,000

• 20.5 AC – 1685 sq ft home� 10,000 sq ft of greenhouses & mobile �� $584,900

• 49.7 AC mOSTLy TREED, large home, barn & portable sawmill� ......................$650,000 • 3300 + SQ FT IN COURTENAy Retail/Office/Warehouse (Strata) .......$275,000

• 7 UNIT APT. bUILDING, Central Comox �� $799,000

#104-4238 Lozells Avenue, Burnaby

Located between the Trans-Canada & Lougheed Highways in Burnaby

Asking Price: $285,000

* 1,213 square feet * 3 year term expiring March 31, 2015 * Triple net income $12,736.44 * Grade level loading * 12’clear ceiling heights * Return per year – 4.5%

#114-408 East Kent Avenue South, Vancouver Foreshore Business Park

Asking Price: $459,000

For Further Information, Please Contact:

* 2,040 square feet * 3 year term - lease expires August 31, 2015 * Triple net income—$23,807 * Main floor showroom / warehouse * Second floor office with air conditioning.

PETER HALL / CHRIS DAVIES Telephone: (604) 718-7300 Facsimile: (604) 718-7307 E-Mail: remax@axion.net

www.davies-hall.com

•

.71 AC LOW RISE APT SITE ......$850,000

•

3,000 SQ FT RETAIL bUILDING On ½ ac, Courtenay �� $925,000 NOW $799,000

•

1 ½ ac OF GREENHOUSES on 6�5 ac Campbell River ....................... $1,500,000

• KINGFISHER RESORT. 600 sq ft units� �� $229,500 each Spectacular oceanfront •

HIGH-END WILDERNESS RESORT. Forbidden Plateau �� $2,395,000

Rob Samsom

AACI CCIM FRI Personal real estate CorPoration

1-888-829-7205

www.robsamsom.ca RE/MAX Ocean Pacific Realty

A28

www.westerninvestor.com OCTOBER 2012 WESTERN INVESTOR

COMMERCIAL

RE/MAX TREELAND REALTY

RE/MAX LITTLE OAK REALTY

RE/MAX BOB PLOWRIGHT REALTY

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

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

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

COMMERCIAL BUYER/TENANT REPRESENTATION Call or email David DEVELOPMENT SITES

Coquitlam near Burquitlam Skytrain Station! .91 Acre 820 metres from station. Holding Income from active business. Exclusive Listing. Call or email David

RETAIL STORES FOR SALE 2570 Kingsway Ave in Port Coquitlam presently a restaurant. Property only for sale Call or email David not the business – don’t ask for business numbers please. 748 Sq. Ft. $309,900 CLS#: V4030490 RETAIL STORE FOR SALE

2568 Kingsway Ave in Port Coquitlam – presently a convenience store. Property only for sale not the business – don’t ask for business numbers please. 821 Sq. Ft. $339,900 CLS#: V4030247 Call or email David INDUSTRIAL FOR LEASE

#64 - 1833 Coast Meridian Rd Port Coquitlam 15 0 0 s f i n c l u d e s showroom, offices and warehouse. Perfect for electrician, plumber, mechanical contractor $1700.00 / month! CLS# (V4031960) Call or email David

DAVID KEARNEY CCIM www.davidkearney.com dkearney@remax.net 604-942-0606 Toll Free: 1-888-942-0606

RE/MAX SABRE REALTY

“LOOKING FOR SOME HELP IN STARTING OR EXPANDING YOUR INVESTMENT PORTFOLIO, LETS CHAT, COFFEE ON ME.” • Fort St John, Investment opportunity. Well kept up, light Industrial building in Prospect Park close to Highway. 5 bays, offices on main and above with lunch room. Fenced yard with storage sheds. $1.1 Million .

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

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         

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   



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 





 

 

• Say goodbye to your boss, and come own this turnkey biz in Abbotsford. Auto Body biz for sale. $159,000 • 4000 sq ft Light Industrial newer (2007) building in Dawson Creek, BC.

RE/MAX SABRE REALTY GROUP

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

 

  

 



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

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

    

   

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



 

     

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

RE/MAX LITTLE OAK REALTY

768 ACRE 5 TITLE CATTLE RANCH AND PLAYGROUND

   

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

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    

  



 An ideal opportunity for any individual, family, or group purchaser. This working cattle ranch also prvides a private year round playground that may be coupled with a significant bed and breakfast business. Go hunting, fishing, hiking or horseback riding for miles on trails suitable for ATV’s in summer and snowmobiles or cross country skiing in winter. Snowboard and ski the ranches own private downhill run. Currently set up to raise 250 to 300 head of cattle this ranch is Located just off HWY 97, 20 minutes South of Quesnel B.C. The 768 acre property has 5 titles plus approximately 3000 acres of attached range lease with water licence for irrigation. Beautifully finished and landscaped the 10 yr old 1730 Sq. Ft. ranch house has a panoramic view of the Fraser River Valley. Also included a 1400 sq. ft. cabinet shop, a 24’x40’mechanic shop, a 2880 sq. ft. machine shed, a bunk house, a 3 yr old 72’x80’ hay barn, and a large older log barn for cattle and 100 tons of hay. Excellent value! Offered at $960,000 Call or email roy@mufford.com for additional pictures.

SPECTACULAR VIEW 36.4 ACRE PROPERTY – ABBOTSFORD

One of a kind awesome view, overlooking Fraser river & Valley farms. Ideal building site for the exclusive country estate. Fully useable farmland for berries or livestock. $2,188,000

CALL ROY MUFFORD 604-533-3491

RE/MAX TREELAND

CLAYTON INVESTMENT PROPERTY Clayton OCP 2.548 Acres – non ALR “Suburban” Designation – City Water No Creeks/Easements. Ex 3 bdrm Rancher & Horse Barn to Rent. $1,398,000 RE/MAX Call

MERCIA MCKITRICK at 604-533-3491

TREELAND mercia@uniserve.com

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               

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  

 



 

     

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  

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

       

 

        



   

       

  