Western Investor November 2012 Section A

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COMMERCIAL REAL ESTATE, FRANCHISES AND BUSINESS OPPORTUNITIES

Commercial Real Estate Services, Worldwide.

CommErCIAL STrATA uNITS North of the Fraser river Retail ............ 569sqft, 696 sqt, 740 sqft Office............1114 sqft ............$358 psf

MERRITT, BC oppoRTunITIEs

Penthouse.....7500 sqft ...........$264 psf Restaurant.....5867 sqft ...........$218 psf Warehouse.....1925 sqft. ..........$165 psf

GrEAT vALuE

dEvELopmENT SITES

• 53 Unit Townhouse Site

New westminster

• 4.1 Ac. R3 M-F zoning

1.10 acre 2 parcel site in high profile corner location. Potential for 4 storey condos with ground level commercial. $4,890,000 / $101 psf

• Services at street

Call Jon Meder or Don Ellis 604-683-7535

1/2 ACrE C-3 LoT

• Asking $699,000

• New Dev. Nearby • Close to Wal-Mart • Only $239,000 or TRADE? .45 acre 3 parcel corner site on commercial corridor. Potential to split into single family lot & 4 storey condos with ground level commercial. Existing holding revenue from 7 tenants $87K $1,790,000 / $92 psf

3 LIGHT INd. LoTS • 0.43 Acres Each

Commercial/Industrial Land Highway 1 Access and Exposure Adjacent to future FLYING J Truckstop and Subway • Up to 22+ Acres Total • Owner will subdivide to suit • Industrial or Commercial uses • Full Highway Frontage ASKING: Contact Listing Broker KEN KIERS*

604-534-7974 1-800-890-9855 kiers@naicommercial.ca *Personal Real Estate Corp.

NAI buSINESS AdvISoRy Sold lIStINgS Recently sold businesses with Real Estate

• Metal fabricating (including Property) • Excavating business (including property) • Pub and Restaurant (including property) • Industrial moving (plus 10 year lease)

$5,400,000

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

alf sanDerson 604-657-5638 alf@naicommercial.ca

CommErCIAL STrATA oFFICE For SALE 20688 56TH AvENuE, LANGLEY

INduSTrIAL For LEASE 15,000 – 30,000 +/- Sq. FT. LANGLEY

For SALE CommErCIAL propErTY/zoNEd C-3 LANGLEY – FrASEr HwY FroNTAGE

Don & angie MacDonalD

• Frontage on Fraser Highway, Langley • C3 uses include Dealerships, Home improvements, Automotive, Retail, etc.

• Total of 2.57 +/- acres – 6 separate title • Property includes 3 service bay building with extra height for RV service • Redevelopment site to Commercial/Multifamily/Seniors • Secured lot • Owner may lease back a portion • Front retail space for Lease with sales centre/offices • Business not included • $2,850,000 • Rare Opportunity – Current business has been there for 50+ years

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

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

Phoenix realtor Todd Smith: still “buy of a lifetime,” but Canadians find bargains are scarce as inventory shrinks 16

$3,200,000

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

gary niesner 604-514-6832 or 1-800-890-9855 niesner@naicommercial.ca

SIZZLING SUN BELT

$3,900,000

We have qualified purchasers for these types of businesses and properties

• 2,050 sf of bright, nicely finished corner strata unit in downtown Langley • 5 offices, large reception, kitchen, bathroom, storage and 10 dedicated parking stalls!

• Great for professional offices or retail.

• Asking: $628,000

$4.29 NOVEMber 2012 Vol. 27/issue 11

$1,750,000

• New Price $59,000 Each

• Excellent for Manufacturing/Distribution Centre • 30,000 sq.ft. +/- - Vacant • Can be demised into 2 bays • 20’ ceiling height – clear span • Heavy power • Extra large grade and dock loading doors • $5.75 sq.ft. net • Outside yard storage available

vancouver • LOWER MAINLAND • vancouver island section

11 SOUTH SURREY

Glut feared as construction of condos and offices roars on

6 WESTERN PERSPECTIVE 9 RETAIL UPROAR 15 GOLF PLAY PAYS OFF

21 11 LEASING TIPS 23 JUROCK’S OUTLOOK 27 DONE DEALS

Smokey Point Boulevard Acreage Supports New Commercial Hub! • One-of-a kind 69+- acres continuous commercial land in path of progress • Owner is retiring and wants to sell - possible owner contract • Overpass nearing completion (Nov 2012) and abuts property - Walmart, Costco nearby • Permit ready, mitigation, wetlands completed • Priced below market at 4.50 psf...13.5 million

Call JEFF (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

for sale 1993 RIVERSIDE AND 34252 & 34314 MARSHALL ROAD, ABBOTSFORD

• Stable income with growth • 43,283 sf total building area on 2 properties • Combined site area - 2.87 acres • Opportunity to build approx. 9,000 sf of additional office/retail space

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

118 acre consolidated parcel

1010 W. KING EDWARD AVE,VANCOUVER

14195 256TH STREET, MAPLE RIDGE

• 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

• M-2 Industrial & A-2 (non ALR) zoning • Full services nearby • Under $50,000 per acre

brett aura

bill randall* | randy swant*

bill randall* | hudge parmar*

vancouver development site

tofino zoned campground/commercial totalling over 116 acres

cambie corridor development site

2001 INDUSTRIAL WAy, PRINCE GEORGE

2106 MAIN STREET, VANCOUVER

• 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

• 2,000 feet oceanfront • Never before available to purchase • Purchase as a whole - Offers considered on separate titles • Asking Price $24,500,000

5129, 5149 & 5169 CAMBIE ST, VANCOUVER

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

mark gallagher

bart vanstaalduinen* | brett aura

corner property along kingsway corridor

for sale - large bay strata warehouse

for sale - corner of broadway and oak

price reduced-saanichton industrial property

1295-1299 KINGSWAy,VANCOUVER

UNIT 106 - 2455 192ND STREET, SURREy

1004 WEST BROADWAy, VANCOUVER

6701 OLDFIELD ROAD, SAANICHTON

• 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

• Fully leased to Scotiabank escalating lease • C3A zoning 50’ x 125’ lot • Great future redevelopment • Asking $4,280,000

kyle wilson | craig haziza***

kevin volz* | andrew green* jot mattu

craig haziza***

for sale - 61 room hotel with restaurant

2.43 acres industrial in port coquitlam

agricultural land investment opportunity

LOUGHEED HIGHWAy, MAPLE RIDGE

1528 BROADWAy ST, PORT COQUITLAM

11020, 11100, 11300 NO 4 ROAD, RICHMOND

• 2.43 acres of M-1 zoned land • 5,731 sf freestanding office/shop • Nickel Bros. relocating • Asking Price $3,595,000

• Up to 15.097 acres of agricultural land with holding income • Intersection of Steveston Hwy. and No. 4 Road • 3 legal parcels • Asking Price $7,145,000

for sale - prince george

• Located along Cambie Street at W. 35th Ave • Walking distance to Queen Elizabeth Park, Oakridge Mall and Canada Line stations • 23,000 sf site on 3 lots • Designated for 6-storey residential development

craig haziza***

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

• 33.48 acre commercial & residential development site • Large assembled & serviced development site across the highway from Wal-Mart • Over 2,300 sf frontage on Lougheed Highway • Asking Price $29,500,000

hudge parmar* | burton van alstine*

craig haziza*** | craig ballantyne*

• 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

for sale - mission LOUGHEED HIGHWAy AND WREN STREET, MISSION

• Approximately 1,000 sf of office space • 8,000 sf warehouse + mezzanine, yard and parking • 2 grade level bay doors • Price reduced to $1,690,000 jon buchanan | anne tanner call 250-410-3000

15 year sale lease back 613 COLUMBIA STREET, NEW WESTMINSTER

• 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/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

brett aura | chris driver* don duncan*

kevin volz* | rick eastman*

hudge parmar* | lee blanchard

andrew laurie | max zessel

eric walker

full vancouver city block for sale

prime east clayton development site

for lease/sale

west end retail building

two-tenant property

1909 FRANKLIN & 200 VICTORIA DRIVE

6595 196TH STREET, SURREy

2835 DOUGLAS STREET, VICTORIA

1674 DAVIE STREET, VANCOUVER

2305 48TH AVENUE,VERNON

• 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

• 2.2 acre High Density Residential site • 22-45 units per acre (Townhouses or Condos) • Surrounded by new development - up to 8.8 acres available • Price $3,600,000

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

robert stokes | boe iravani

chris anderson

burton van alstine* | hudge parmar* anne tanner

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

for sale mission square centre

for sale harrison highlands

23360 FRASER HIGHWAy, LANGLEy

MISSION

KENT

• 3,406 sf site • Vacant two storey building • Asking $3,380,000

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

tyler pridham

eric walker

for sale

jameson house offices for sale/lease

32860 MISSION WAy, MISSION

VANCOUVER

PRICED REDUCED • 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 bill hobbs*

• Retail Centre on Lougheed Highway • Two buildings totalling 13,732 sf • Large 40,000 sf site • Asking Price $3,850,000 bill randall* | brett aura

• 90 acre residential development site • PHASE I: Fully serviced 37 single family lots and 12 bare land strata titled lots • PHASE 2: Serviced to lot line • Asking Price $8,000,000

• 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

bill randall*

cushmanwakefield.com | 604-683-3111 *Personal real estate corPoration. ***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.

bill randall*

• 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 noVember 2012

VancouVer • lower mainland • VancouVer island section On the cover Phoenix realtor Todd Smith: Canadians can still find houses for less than US$200,000, but foreclosure deals disappearing Photo: AZ Performance Realty (Phoenix)

FEATURES 16 ON THE COVER Rising from the ashes

spECiaL sECTiON • a14 LIFESTYLE PROPERTIES

9 “New blood” changing retail scene

aDVERTISINg DIRECTORy

Phoenix, Las Vegas ascend from 2008 housing crash American invasion reshapes prime Vancouver strolls

2–24 LOwER maiNLaNd 8-9 sERViCEs 25 sEa-TO-sky/suNsHiNE COasT REgiON

11 South Surrey: Real estate glut warning Speculative construction defies demand outlook

23 What Ozzie Jurock sees on horizon

24–27 VaNCOuVER isLaNd

Annual Outlook Conference shares good and bad news

MORE OPPORTuNITIES …

COLUMNS

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

6 WESTERN PERSPECTIVE 21 lEaSINg NEgOTIaTIONS 27 DONE DEalS

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

CALL Don

604-817-7338

Munro

botsold@intergate.ca

Prime Agricultural and Commercial / Industrial

OLD

OR

45116 Yale Road

COMMERCIAL/INDUSTRIAL SURREY 11151 Bolivar St & 13340 112 Ave $2,750,000 • 2.3 Acres (on corner) • Zoned CHI (Highway Commercial)

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

8558 Chilliwack Mountain Road COMMERCIAL/INDUSTRIAL 44109 Yale Road West $1,210,000 • 0.8 Acres • Home and large shop • Excellent TransCanada Highway Exposure Property • M2 Zoning 8558 Chilliwack Mountain Road $6,000,000 • 10.687 acre Vacant Industrial Lot • Zoned M3 (General Industrial) & M4 (Heavy Industrial) • Level lot with a compacted gravel base • Great Location and a Great Price !

CHILLIWACK 45116 Yale Road 1.376 Acres • Excellent location just off Evan’s Road Exchange • Exposure, Exposure !!!

• Currently M2 zoning Call For Price & Additional Information 44085 Yale Road West $1,250,000 • 1.01 Acres • Excellent TransCanada Highway Exposure Property • M2 Zoning (sales, manufacturing, distribution, warehousing, food processing & outside storage are allowable)

✓ VALUE FOR $

ACREAGES LANGLEY 27465 60th Avenue $1,299,000 • 5 acres w/ beautifully renovated log home • Large paved drive, lots of parking for large trucks • Ask about possible future upside “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

IGH

7730 Old Orchard Road

ACREAGES

ACREAGES

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

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

27691 Downes Road REDUCED • 26 Acres • Potential Berry Land??

• Large Shop & Barn/Storage

CHILLIWACK 50915 Ruddock Road $649,000 $598,000 • 2.496 Acres • NO REASONABLE OFFER WILL BE REFUSED !!

• Excellent view property • close to many amenities • Beautifully finished +/-2 year old two-storey home with full finished basement

889 Lefeuvre Road $5,800,000 • 26.6 Acres • Mushroom Farm • Shop/Composting Facility • Growing Barn & Multi-Use Building

OF

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

DA H

TRANSCANADA HIGHWAY

CH AR DR

OA D

WAY

Real Estate

EVANS ROAD

TRA NSC ANA

SUTTON GROUP WEST COAST REALTY

FERS 51140 Ruddock Road $850,000 • 27.98 Acres with potential for 11 lots !

• Private, yet in close proximity to many amenities 700 Columbia Valley Road $1,300,000 • 25.51 Acres of Prime Farm Land • Build your dream home here!

✓ UPSIDE

✓ CAREFREE

A4 Lower Mainland

www.westerninvestor.com NOVEMBER 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

APARTMENT BUILDINGS FOR SALE

Sparkling Commercial Investment Waiting for you 6% cap

PLE ASE VISIT WEBSITE FOR MORE LISTINGS

• Prince George, BC

• 27256 Fraser Hwy, Aldergrove

• Located in Downtown Prince George near transit

• 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

• 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

School Foreclosure, Fruitvale, BC

• 50,000 sq. ft. brick block school building on 6.8 acres $900,000

DAN SCHUL Z

778.999.5758

42 Suite Apartment Building - Kamloops

BRUCE LONG CCIM 604.312.2000 bruce@bcapartmentbuildings.com DAVID FITZGERALD 604.714.5522 david@bcapartmentbuildings.com South Granville - 14 Unit Apartment Bldg.

Kitimat BC $31,250 per Unit

Office Building For Sale / Lease

• 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

dan@bcapartmentinsider.com

• 1536 16th Ave, Vancouver

• 1530 - 1600 Albatross Ave, Kitimat

• Desirable Granville & W. 16th location • Very well maintained building • Current rents are below market • Good upside potential • $4,795,000

• Great return on very low rents • Some work required but opportunity to increase rents significantly - Huge Upside • 80 Units, 9% cap rate • $2,500,000

Co-listed with:

GARY KHAN 604-714-4799 g.khan6@gmail.com

Subscribe to our newsletter online

South Surrey Office/Retail Building For Sale • Solid Concrete 5,000 SF office/retail building on 3/4 of an acre at a busy intersection

34 Suite Downtown Apartment Bldg.

• Zoning permits additional development up to 25,000 SF • Ideal for owner/user • Asking Price $2,388,000

3221 140th Street, South Surrey, BC

CHRIS MIDMORE

604.714.4786

Rare Golf Course Opportunity For Sale | Vancouver Island • Residences at Sun Valley Ridge

• 859 Thurlow St, Vancouver, BC

• 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

43-Pad Mobile Home Park - Kelowna

• Newly Renovated Heritage Building 22 Bach / 12 1-Bdrms • New Plumbing, New Electrical & New Windows, New Everything!

• Wireless Internet, Exercise Room • List Price: $8,500,000

• 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

ERIC POON 604.714.4768

Multifamily Investment Opportunity - Alberta

For more listings visit:

www.macdonaldcommercial.com • 2355 Marshall Rd., Kelowna, BC • Outstanding location in the sunny Okanagan • Future Development Potential • 6.517 Acres • $5,500,000

• Chinook Manor - Brooks, Alberta • 7% cap rate • 12 strata-titled condominiums • 1 1-Bdrm / 11 2-Bdrms • $995,000

Dan Schulz 778.999.5758 Gary Webb 604.714.4780

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.

Selling Apartment Buildings in B.C. Since 1998 Outstanding Service Strong Local and International Client Base Over $400 Million in Multi-family Real Estate SOLD

DAN SCHULZ 778.999.5758 www.bcapartmentinsider.com

SALES . LEASING . STRATA MANAGEMENT . PROPERTY MANAGEMENT

WESTERN INVESTOR NOVEMBER 2012 www.westerninvestor.com

Lower Mainland A5

FFER

IPLE O MULT

APARTMENT BUILDING SPECIALIST KELOWNA

WEST SIDE

NORTH VANCOUVER

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

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

12 Unit Apartment Building Prime Lonsdale Location Gross Income $125,029

MAPLE RIDGE

PORT ALBERNI

NORTH VANCOUVER

21 Unit Apartment Building Walk to river, shops, WC Express Gross Income $160,416

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

Two Buildings – 39 Units Sold together/Dev Site Gross Income $484,275

REtail salE/lEasE

REtail iNvEstmENt

OWNER/UsER OppORtUNity

DEvElOpmENt OppORtUNity

COmmERCial stRata

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

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

1407 East Georgia St, Vancouver 22,618 sq ft building with secured fenced yard • Multi tenant facility 33,301 sq ft lot • 281’ frontage

2117–2121 Kingsway, Vancouver 99.03’ x 120.9’ site • Holding income C-2 zoning • 2.5 FSR • Close to Norquay, Victoria Dr & transit

1150 Marine Drive, North Vancouver 2,521 sq ft retail space Great exposure • Close to transit High traffic location

James Bayley, Meghan Kennedy

James Bayley, Meghan Kennedy

Ryan Saunders, Mitch Ellis

James Bayley, Meghan Kennedy

James Bayley, Meghan Kennedy

iNvEstmENt OppORtUNity

iNDUstRial salE

DEvElOpmENt OppORtUNity

iNDUstRial stRata salE

DEvElOpmENt sitE

King

George Blvd

3560 Moncton Street, Richmond 6,400 sq ft building Key corner location • Centre of Steveston Village • Surface parking

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

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

#7 & 8, 1740 Broadway Street, Port Coquitlam 5,109 sq ft • 19’ clear ceilings Excellent truck maneuvering

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

Steve Schweigert

Phil Gibbons, Steve Caldwell

James Bayley, Chris McIntyre

Steve Caldwell, Phil Gibbons

Rand Thomson, Sebastian Espinosa

iNvEstmENt OppORtUNity

iNDUstRial stRata salE

REtail stRata salE

iNDUstRial salE

iNvEstmENt OppORtUNity

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

124 & 125, 18525 53rd Ave, Surrey 4,189 sq ft corner unit 3 phase power • Grade loading Cloverdale Business Park

1436 Portage Road, Pemberton 6,758 sq ft strata for sale Surface & underground parking High exposure location • $1,950,000

54370 Bridal Falls Road, 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

Tony Capolongo, Sebastian Espinosa

Sebastian Espinosa, Tony Capolongo

Don Mussenden, Steve Schweigert

Rand Thomson, Sebastian Espinosa

Steve Caldwell, Murray Wills

DTZ is now a part of UGL Services. The combined business creates one of the largest property service companies in the world. For more information on our available properties and a range of commercial 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 11/2012.

A6 Lower Mainland/Business Opportunities BC Ferries has earned its bad online rep

T

he Kootenay Lake car and passenger ferry makes a 35-minute trip from Balfour to Kootenay Bay every hour.

And it is free, as are all 14 ferries in the B.C. Interior.

From the ferry terminal at Horseshoe Bay, a multibillion-dollar highway was built linking West Vancouver to Whistler. And it is free.

Ye t B C F e r r i e s ’ Horseshoe Bay-Sunshine Coast route, a 35-minute trip across Howe Sound, costs $62.50 for a car and driver – and these fares are about to increase after jumping 45 per cent in the past five years.

This reflects the unfair treatment that coastal communities have endured for decades. The result has been the slow strangulation of what should be a thriving coastal economy. As one sports fisherman noted recently, it would have cost him $400 to tow his small boat onto the Vancouver Island ferry – so he decided to take his boat and his money somewhere else. The same

can be said for RV owners, who naturally balk at the spiralling cost of ferrying even a modest-length vehicle.

Recently this absurd situation has come to the attention of major online tourism sites. This is ironic because the key reason BC Ferries fares have increased is because the corporation that runs it has tried to turn a transportation necessity into a tourist attraction. Onboard the bigger ferries there are now fancy dining menus, hardwood laminate flooring, games rooms and free Wi-Fi – and a quickly declining number of passengers.

“We travelled extensively on Washington-state ferries and a 20-minute sailing cost the three of us and our car under $15. A similar route in a similar vessel run by BC Ferries would cost four times that amount,” stated one commenter on the popular TripAdvisor web page.

To combat the loss of passengers, BC Ferries plans to raise rates by 4 per cent per year for the next three years – and cut

Western perspective

E

FRANK O’BRIEN

Publisher Cheryl Carter Editor Frank O’Brien Contributing Writers, Dave Husdal, Geoff Kirbyson, Glen Korstrom, Peter Mitham, Sylvie Paillard, Norm Parks, Chad Saxon, Dale Willerton 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.

ADVERTISING DEADLINE

EDITOR wieditor@biv.com

DECEMBER 2012 issue: November 13, 2012

PHOENIX, LAS VEGAS, EQUITY INVESTORS

LE ON THE W

NEEDED

R

LIF

Western Investor publishes its annual “Residential Outlook” for the coming year; we visit ski resorts and study native land leases across the West. Our regional reporters file from North Battleford, Okotoks and Victoria.

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East Chilliwack, BC

Y ST

NEXT MONTH

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8.75 AC COUNTRY ESTATE

service. Yeah, that should really encourage ridership.

Meanwhile, inland ferries remain free by offering the basic transport that makes it possible. Ride the 20-minute ferry across the Arrow Lakes and your car sits on an open deck surrounded by natural beauty, not by union staffers trying to look busy.

The solution to BC Ferries is simple: cut the high-paid administration and employees, jettison the fancy frills and concentrate on offering simple, consistent transportation to serve local residents and the economy.

NOVEMBER 2012 WESTERN INVESTORW

Head =producing BC Ferries has earned its bad online rep • 4 acres in revenue hazelnuts.

• 5,893s/f. architect designed 6 bdrm home Langley, BC • 26’ x 41’ shop, coop, green The chicken Kootenay Lake carhouse, and passenger ferry makes a 35-minute trip from Balfour to & pond. New Reduced Price: $1,100,000 Kootenay Bay every hour. And it is free,B.C. as are all 14 ferries Interior.

Co. owning a marinain&the 72 ftB.C. aluminum motor

TURN - KEY FRANCHISE

For more Information visit at Horseshoe Bay, From the ferryplease terminal highway was built • Busy Shopping Center yachtaonmulti-billion Fraser River. dollar Approx 600 ft of dock

• Growing Retail Business

• 40% return over the past year • Buy and Hold, or Flips • Hands on Involvement Phone:

Calum Coupland

www.KafkaRealEstateTeam.com • Good Mix of Tenants • Great Community ft rentable) with 90 ft boat shed,workshop linking West Vancouver to Whistler. And(±it1200 is free.

604-532-1923 or 604-825-3249 & major tools.

Garden design yacht fully equipped Contact Pety Carvalho TRUDE KAFKA Yet the B.C. Ferries’ Horseshoe Bay – Sunshine Coast route, a 35-minute trip & ready to use; current owners live aboard. calum@atsbc.com cel: 604-791-1304 (604) 562 8655 across Howe Sound, costs more than $60 for a car and driver – and these fares are about email: trudek@smartt.com pcarvalho@cruiseshipcenters.com www.atsbc.com Complete details and pictures on www.sydsmarina.com Sutton Group Showplace Realty 45 Ltd. per cent in the past five years. to increase after jumping This is the unfair treatment that those living in coastal communities have lived with EXCELLENT INVESTMENT OPPORTUNITES YOUNG PRINT SHOP – building & business with equipment, for decades.YOON 26 yrs in business, wellshould established $699,000 604-808-5024 The result has been the slow strangulation of what be a thriving coastal• 6% Cap, Squamish BC over 1.5 acres in downtown, 100’ Sea to Sky frontage, over 15,000sqft of email: youngyoon62@gmail.com Team 3000 Realty ltd. economy. As one sports fisherman noted recently, it would have cost him $400 to tow buildings. Ford Dealer as tenant est 24 yrs at $20k nnn/month ...............................Asking 3.9M GAS STATION, building land equipment included, YOON his FRANK small boat onto the Vancouver Island ferry so ac heland decided his boat and his• Squamish BC profitable Self Storage over an acre located in Industrial park grossing over 188k / all updated– 3.5 5 legal to lots.take $1,288,000 604-760-7292 Westcoast Realty money somewhereSutton else.

The same can be said for RV owners, who naturally balk at year with 2 apartments, 4 shops, 2 Retail space and 43 storage lockers. ............. Asking 2.78M RESTAURANT, 27 yearsvehicle. in business. Building, land • Vancouver BC Clothier business est over 30 years grossing over 2M/year. .............. Asking 600k paying QUEEN the spiraling cost of ferrying even a modest-length DAIRY PRINCETON and equipment included $788,000 this absurd situation has come to the attention of major online tourism• Downtown Vancouver, prime Denman St location restaurant 50 seats, gross over 500k/year, liquor AskingRecently $459k business share sale license est over 8 yrs. .............................................................................................. Asking 248k Recent $250k renovation netting $150k/year sites.

This is ironic because the key reason BC Ferries fares have increasedover is because WHOLESALE BUSINESS VANCOUVER, 35 • Richmond BC Pizza Deliver business est over 15 years. ............................................ Asking 78k the corporation that runs has tried to turnyears a transportation necessity a tourist in operation, good location,into handling manyattrac• Downtown Port Coquitlam, 1,530 sqft main floor office space. ............................Asking $10NNN PAPA JOHNS PIZZA FRANCHISE products. $48,000 plus stock tion. Onboard the bigger ferries there areexclusive now fancy dining menus, hardwood laminate • Coquitlam Center, 650 sqft - 3 offices, reception, board room and storage on busy Westwood Coquitam asking $199k flooring, video games rooms and free WiFi – and a quickly declining number of pas- Street for only $1,625/mo Gross!

Net $6000 /month Please call RICHARD PODGURSKI sengers.

RE/MAX Masters Realty Contact: at “We travelled extensively on Washington State ferries and a 20-minute sailing cost Cell: 604-961-5665 12 Years of Sales and Leasing 604-437-1123 (Bus.) 1-800-655-4553 the threeand ofCommercial us and our car under $15.00. A similar route in a similar vessel run by BC richard@expertrealty.ca Businesses Properties bertini@telus.net • www.alanabertini.com Westburn Realty Ltd Ferries would cost four times that amount,” states www.expertrealty.ca one report published on the popular TripAdvisor web page.

Adds another disgruntled visitor to the site: “One of the biggest money grabbers in the province. Now it’s “gouge” the riders as much as possible and then cry foul because they’re not making as much profit.”

To combat the loss of passengers, BC Ferries plans to raise rates by 4 per cent per year for the next three years – and cut service. Yeah, that should help a lot.

•

• Meanwhile, the Inland ferries remain free of charge by offering the basic transport

that makes it possible. Ride the 20-minute ferry across the Arrow Lakes and you bring •

your own food and drink and your car sits on an open deck surrounded by natural beauty,

•

not by union staffers trying to look busy.

The solution to the BC Ferries is simple: cut the high-paid administration and employees, reduce the fancy frills and concentrate on offering simple, consistent trans-

Alana Bertini

Lower Mainland A7

WESTERN INVESTOR NOVEMBER 2012 www.westerninvestor.com

FOR SALE – 2450 Ontario Street, Vancouver N

EW

• Single-tenant office building. 100% leased to Vancouver Coastal Health until February 2020 • Below-market rental rate • 0.76 acre site with 297 feet of frontage along E.8th Ave.

FOR SALE – Pantec Mini Storage, Bellingham, Washington E D I C CE R U PD RE

LD O S

FOR SALE – 3838 & 3862 West 50th Avenue, Vancouver

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

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 FOR SALE – 1636 Island Highway, View Royal, Victoria • • • •

INVESTMENT/DEVELOPMENT OPPORTUNITY 14.67 acres including a 3.5 acre serviced parcel for future dev. # of Units: 842 Cap rate: 7.5% • $6,700,000 Cdn

Robert Gritten / Patricia Lidbetter / Ryan Kerr

Mark Hannah / Rob Greer / John Lecky SOLD – 3600 Viking Way, Richmond

• • • •

Mark Hannah / Alex Messina FOR SALE – 728 Main Street, Vancouver

4.077 acres Zoned Commercial 2.5 PSR $4.9 million

• • • • •

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

Douglas L. McMurray Mark Hannah/Rob Greer FOR LEASE – 417- 419 West Hastings Street

FOR SALE – 5255 208 Street, Langley

• Nine 4-bedroom townhome rental suites

• Up to 19,105 sf of retail and office space in downtown Vancouver • Strong exposure onto West Hastings Street • Abundance of amenities within close proximity

• Three duplexes, one triplex building • Built in 1994 • Clear title

Michael Buchan/Justin Omichinski 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

Chris Wieser / Rob Greer SOLD – 8537 Young Road , Chilliwack

LD O S

• • • •

37 unit strata rental apartment building Off market transaction Quality tenants Built in 1991

Chris Wieser Douglas L. McMurray / Bal Atwal FOR SALE – 8515 River Road, South Mission FOR SALE/LEASE – 2907 3rd Avenue, Port Alberni • 6.82 acres • M-2 Heavy Industrial • Exposure onto Lougheed Highway • $2,387,000 ($350,000 per acre)

John Eakin / Michael Farrell FOR SALE – 9781 186 Street, Surrey BC R T DE C N RA U T N CO

• • • •

2.86 acres Zoned and serviced In sought after Port Kells industrial park Asking $2,699,000 ($944,000 per acre)

• 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 - 102-7188 Progress Way, Delta • 2,001 Square Feet • Nicely Improved Strata Unit • Ideal for a 1st time investor

Ryan Kerr / Jeron Dillon

Michael Farrell / John Eakin FOR SALE – Abbotsford Industrial Land • Serviced and zoned land • 1.00, 2.25, 3.25, and 11.8 acre sites • Located at Mt. Lehman Rd and Brookside Ave • Starting from $373,000 per acre

Michael Farrell / John Eakin

FOR SALE - 28730 94th Ave, Maple Ridge • • • •

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 FOR SALE – 5118 Joyce Street, Vancouver R T DE AC N TR UN CO

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

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

• 16,374 sf of fully improved strata office space • 2 full floors • Available April 1, 2014

Matt Walker / Mona Khandan 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

Darrell Hurst Avison Young Commercial Real Estate (B.C.) Inc.

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

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WESTERN INVESTOR NOVEMBER 2012 www.westerninvestor.com

FEATURE “New blood” – including American – shakes up malls, suburbs and downtown leasing

A9

Retail uproar

WESTERN INVESTOR

R

eports that downtown storefront vacancies constitute a slowdown in retail demand in Vancouver are flat wrong, says Neil McAllister of DTZ Barnicke, Vancouver.

Instead, McAllister says the vacancies along Robson Street, for instance, simply reflect a dynamic market undergoing a dramatic change.

“There is a lot of new blood coming into the market and, finally, turnover creating opportunities for U.S. retailers who have been trying to get into this market. And they are coming in droves.”

McAllister quickly listed the big American brands that are muscling their way into downtown Vancouver, including Victoria’s Secret, Forever 21 – which has taken 20,000 square feet for a flagship store on the 1000 block of Robson – J. Crew and Nordstrom, which will open 230,000 square feet of tri-level space on the site of the old Eaton’s building by 2015.

As well, McAllister said, Old Navy has inked a deal for 13,000 square feet at Robson and Granville.

And high lease rates are not deterring tenants, he said, adding that prime Robson Street fronts can demand from $160 to $210 per square foot.

The fresh blood is also spilling into downtown malls, DTZ Barnicke notes in a recent retail report. Hudson’s Bay Co. is renovating

Photo: James Cheng Architects

FRAnk o’bRiEn/glEn koRsTRom

there is only 13.73 square feet of mall or power-centre retail space per person.

“If there’s no growth in population and no growth its flagship store on West Georgia and will in income, then technically introduce a 33,000-square-foot Topshop and existing stores will have lower Topman into the mix. Pacific Centre is also sales,” Penalosa warned. expanding by converting the basement level to retail space, the report said.

Transit links Much new square footage Enclosed malls is also planned around rapid Metro Vancouver’s enclosed retail sector, transit. in fact, is undergoing a boom with a dozen Tr a n s L i n k r e c e n t l y malls across the region either being built or confirmed that there will expanding. be an Evergreen Line staRetail analysts say that it has been a long tion at Coquitlam Centre. time since there has been so much activity in That prompted Morguard the enclosed mall sector but that the renais- Investments Ltd. and Pension sance in new space does not necessarily mean Fund Realty Ltd. to confirm U.s. high-end retailer nordstrom will open 280,000 that there will be a glut of retail space or that plans to get approval to build square feet in the former Eaton’s building in downcurrent retailers will suffer lost sales. an extra 100,000 square feet town Vancouver by 2015.

New malls, such as the outlet-style mall of retail space at Coquitlam Group has proposed a 70-acre mega-mall that the Vancouver International Airport Centre. near the River Rock Casino Skytrain station.

Authority and McArthurGlen Group are Morguard has yet to declare plans to IKEA recently added a 300,000-square-foot planning to build near YVR, target a new expand its Burquitlam Plaza, which will also store next to its former location. niche and lure shoppers that might normally be next to a future Evergreen Line station.

In New Westminster, Plaza 88 is opened Expansions at malls that are close to rapid and anchored by Safeway, Shoppers Drug have shopped at a conventional regional mall, said Thomas Consultants managing princi- transit also include projects at Lougheed Mart and Landmark Cinemas on Columbia pal and retail consultant Michael Penalosa. Town Centre, Aberdeen Square, Brentwood Street next to the SkyTrain station. Also close “They’re creating a new destination,” Town Centre and Oakridge Centre. to transit is the Brewery District, where Penalosa said. “Sure, there’s more retail, but Oakridge already has city approval to add Thrifty Foods anchors the first phase. they’re trying to grab a new type of customer 350,000 square feet of retail space, but owner segment – one which is looking for specific Ivanhoe Cambridge wants to transform the High prices goods at a specific price point.” mall’s 11.5-hectare site into more of a com- Investors who want to buy retail spaces can He pointed to Colliers International sta- munity. expect to pay high prices. tistics released earlier this year showing that Vancouver city council recently approved When DTZ Barnicke tracked large retail Vancouver has comparatively little enclosed Ivanhoe Cambridge’s ability to move to pub- transactions in the second quarter of this retail square footage per capita compared lic consultation with a proposal for significant year, it found prices ranged from $515 per with Toronto. The study showed that Toronto expansion that would include new condomin- square foot in downtown New Westminster has 24.11 square feet of mall and power- iums, office space, a library, parks and bike to $780 per square foot on Denman Street in centre retail space per person. In Vancouver, paths. In Richmond, the China-based Jingon Vancouver.u

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West End Denman St Location. Well established, with excellent street exposure.

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A10 Lower Mainland

www.westerninvestor.com NOVEMBER 2012 WESTERN INVESTOR

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A11

WESTERN INVESTOR NOVEMBER 2012 www.westerninvestor.com

REGIONAL ROUNDUP South Surrey development pace roars past Central Surrey, but some fear glut

“The money is here” fRANk O’bRIEN WESTERn InVESToR

T

TOP: The Morgan Gateway business Park is an ambitious spec project by cityaffiliated Surrey Development Corp. and kNV Accountants. So far no pre-leases have been inked. RIGHT: Niche townhomes: $10,000 in incentives as south Surrey condo market slows.

500,000 square feet of stores, is 95 per cent leased and features such urban touchstones as a gourmet cooking school, Wi-Fi latte bars and high-profile fashion retailers.

Urban environment consultant and planner Michael Geller, who worked with Grosvenor on the smaller-scale but similarly themed High Street at South Pointe Exchange development in South Surrey, said such projects speak to how the area has changed from a place where the major attraction was affordable housing.

“Larco has recognized that many of the attributes of South Surrey are similar to the attributes of West Vancouver,” Geller said.

$1M house prices

Housing prices are reflective of the comparison. The average price of a detached house in South Surrey-White Rock is $1.05 million, compared with $619,000 in the rest of the

Photo: Woodbridge Homes

“The money is here,” said Dean Bauman, a commercial realtor with Re/Max Colonial Pacific of White Rock, who has worked in the South Surrey market for years. As Bauman explains, the South Surrey-White Rock zone is luring wealthy homebuyers from across Metro Vancouver – and retail and office developers are taking the cue. Some even compare the area with ultra-upscale West Vancouver, both of which boast an average family income north of $86,0000.

When West Vancouver-based Larco Developments envisioned a mixed-use lifestyle shopping centre in South Surrey – modelled on the expansion of its Park Royal Mall in West Vancouver – the aim was to create a “different vibe” from suburban strip retail, big boxes and walled-in shopping malls.

Instead, Larco’s 10-acre, two-year-old Morgan Crossing became the harbinger for South Surrey’s real estate boom.

Today, the Morgan Crossing mixed-use, pedestrian-friendly complex is a destination where brand-name retailers clamour for storefronts, more than 1,000 residents have moved into condominiums and businesses are buying office space at $350 per square foot.

The Shops at Morgan Crossing, totalling

Centre ice for South Surrey development is the intersection of 24th Avenue and 160th Street.

It is the location for Grandview Corners, the RioCan Real Estate Investment Trust retail development that houses both big-box and specialty merchants in a 514,000-square-foot complex very close to Morgan Crossing. It is rumoured that U.S. retail giant Target is eyeing Grandview Corners, as is Costco.

The centre ice nexus is more than retail.

It is also the site of the largest office strata project in Metro Vancouver and where a twobuilding office complex is now attempting to pre-lease space. The Morgan Gateway Business Park is an ambitious project by city-affiliated Surrey Development Corp. and a private developer, KNV Accountants.

Plans call for a 110,000-square-foot office park in two phases near Highway 99 in South Surrey.

“We haven’t got any pre-leases signed yet,” said Andrew Laurie, senior associate, office leasing, with Cushman & Wakefield Ltd. Laurie said lease rates for the LEEDFraser Valley. A typical condo apartment in standard complex will be in the $20-to-$24the south sells for $359,000, while it goes for per-square-foot range, with tax and operating costs adding another $10 per square foot. $186,000 in Central Surrey.

The comparison with Central Surrey is telling. Central is where the new RCMP Office glut warning headquarters, a new city hall and library and There are some doubts about the office marthe tallest condo towers between Vancouver ket in South Surrey. Avison Young notes that and Calgary are being built, yet this year it mid-year vacancy rates hit a six-year high of trails South Surrey in both overall permits 9.2 per cent. With about 300,000 square feet and new-home construction. of new space planned, there are concerns Since 2009, 2,837 new homes have been that some projects may be shelved. Laurie built or started in South Surrey, compared is not among them. “We have been told that with 1,582 in Central Surrey in the same [Morgan Gateway] is going ahead, regardperiod. And, for the first eight months of less,” he said. this year, total building permits in the south Laurie said there are no plans to offer strata reached $31.7 million, compared with $10.5 sales at Morgan Gateway, despite a strong million in the Central/Whalley area.

Please see Incentives page A12 Photo: KNV Accointants

his year building permits in South Surrey have surpassed those in Surrey’s Central district by a factor of three to one as developers lock on to one of hottest demographics in the region.

“Centre ice”

Lower Mainland FOR SALE .

ASED BE LE DETAILS Y A M L FOR CAL

BUILDING AT UBC 81,260 sq.ft. R&D

Contact

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

Kris Pope 604-318-5226 PRIME RETAIL INVESTMENT 3 strata title units sold together---control the entire retail component of this building. Partially tenanted at the corner of 12th and Arbutus in the acclaimed LUZON development. Arbutus corridor.

Huge development happening in the immediate area. $2,988,000

Contact Kris Pope at 604-318-5226

NFP looking for SRO’s in DTES and Van East Contact Kris Pope at 604-318-5226

LUZON FOR LEASE 1486 sf $36 psf + 18psf op. costs. NFP Contact

Sandi Fratino at 604-689-8226

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

For Sale 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

Alex Yuen (PREC)

dir: 604.338.1800 off: 604.926.6718 alex@alexyuen.ca

OPPO

RTU

LL S CA ’ Y T I N

ING!

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. Reduced to $149,800!

We have coMMercial ProPertieS (land & buildinGS) available in the White rock area

Sharon GreySen / rick Mcnary Prec 604-538-8888 WEsT CoasT REaLTy

FOR SALE $2,675,000 REtAiL PREmiSES - rarely available 6019-23 W boulevard, vancouver

Two great tenants in a building beautifully renovated in 2005. an in demand upscale neighbourhood, good zoning and future redevelopment.

Westside Investment Opportunity Call: Wayne Connorton (604) 729-7184

A12 Lower Mainland 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 R o ya l G R o u p TapesTry realTy

#104-13049-76 ave

SOUTH DELTA INVESTMENT OPPORTUNITY 3 INDUSTRIAL STRATA UNITS, FULLY LEASED, 6% CAP, NET $64,818 PER YEAR. Call 604.940.9900 e-mail: signtext@telus.net

Edson, AB – 148 sites – 21 ac ........................... 10,700,000 Edson, AB – 93 pads – 15 ac ...............................7,300,000 Edson, AB – 200 acres – Development ................ 5,727,000 Sidebar Golden, BC – 101 pads , 13 acres .......................

5,500,000 North Battleford, SK – 60 pads, 9.58 ac ...............2,700,000 Map Langenburg, SK – 60 pads, 14 acres........................ 927,000 Houston BC – 20 pads, 29 RV’s, 23ac ..................... 895,000 Quick Facts McLeese Lake, BC - 69 pads, Hse, 25ac ................ 875,000

www.westerninvestor.com NOVEMBER 2012 WESTERN INVESTORW

INCENTIVES from A11

precedent in the area.

The 150,000-square-foot Grosvenor Business Centre near Morgan Crossing – the largest office strata project in the Lower Mainland – has nearly sold out at around $350 per square foot.

“We had 30 per cent of the tower sold before it even broke ground,” said Gord MacPherson of Re/Max Commercial Advantage. The “synergy” of the retail and residential mix at Morgan Crossing helped to draw office buyers that include doctors and other professionals, he added.

Surrey’s southern hot zone has also lured big-name residential developers, such as Adera Group, which is currently selling its Breeze townhomes next to Morgan Crossing.

In all, 18 new residential projects are now marketing in the area.

“Our walking score [a Google formula that tracks how pedestrian-friendly an area is] is 80 out of a possible 100, which is amazing for a suburban neighbourhood. It is like Yaletown, but with golf and beaches,” said Adera president Norm Coutie.

The rush of new condos, however, may be outstripping demand. A tour of show homes and sales offices in the area showed that buyer

incentives are now common. An example: the Niche project by Woodbridge Homes that was offering $10,000 in free upgrades on its $359,000 townhomes.

The Achilles heel to South Surrey’s growth is transportation. The real need is for faster links to Surrey’s existing SkyTrain network, locals suggest.

Quick facts

New Westminster Vancouver

1

SURREY

99A

✪

Industrial

South Surrey is home to one of the last remaining large parcels of industrial land in Metro Vancouver and the Campbell Heights Business Park is now expanding. Phase 2 serviced sites are expected to sell for an average of $885,000 per acre, after Phase 1 sold right out, noted Randy Heed of Colliers International.

“Yes, we have deals in place for Phase 2,” Heed said, noting there is demand from both manufacturers and distribution warehouse clients.

“Campbell Heights continues to be a hive of activity for the entire Metro Vancouver region,” said Avison Young, commenting on the success of speculative industrial projects that characterized the completion of the first phase. In one defining transaction, a developer purchased 97,730 square feet of big-bay warehouse space from Beedie Group and

1A 99

Langley White Rock

✪

South Surrey-White Rock, B.C. Population 85,000 Average family income $86,000 Average detached-house price $1.05 million Average condo price $359,000 Industrial land, per acre $885,000

immediately leased it up.

This fall, ConWest Group of Companies will begin building 150,000 square feet of new space at Campbell Heights to complete Phase 1 development.u

12 Suite

LIQUOR STORES, PUBS, HOTELS/MOTELS

APARTMENT BLOCK

Liquor StorES - PubS - HotELS If

we don ’t have It lIsted we wIll fInd It for you !

South Surrey / White Rock, BC Population 85,000 604-302-3771 or TF: 1-888-251-2822 Average family income $86,000 Fax: 1-888-804-1394 Average detached house price $1.05 million 604-575-5262 Email: hjesse@mobileparks.com Average condo price $359,000 Fax (604) 575-2214 Homelife GlenayreIndustrial Realty land, per acre $885,000 Homelife BencHmark

BaRRy BOck / DOn kayTOR

www.mobileparks.com

5 Gas statioNs witH laND & bUilDiNGs

TiTus realTy

604-599-9287

Email: barry_bock@telus.net

www.barrybock.com

768 ACRE 5 TITLE CATTLE RANCH AND PLAYGROUND

Gas statioN - laND & bUilDiNG & bUsiNess 10 yrs old, fiberglass tanks, part of the builiding is leased to McDonald’s restaurant. Price $2.43 Mil Gas statioN - laND & bUilDiNG C-store, mechanics shop leased, 2 bay car wash. Excellent gross & net income Fiberglass tanks $2.30 Mil 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 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

An ideal opportunity for any individual, family, or group purchaser. This working cattle ranch also provides 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

• 2154 York Ave. 1 block to beach • Prime Kits location & views • Lot: 50’ x 120’, RM-4, Parking • Good suite mix • Great income property or hold for future development • New windows now being installed

Info pkg. Call: HANS OR JOHN GUST 604-263-8800 or hansgust@telus.net United Realty

Lower Mainland A13

WESTERN INVESTOR NOVEMBER 2012 www.westerninvestor.com

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

vancouver west side

• Strip mall w redevelopment potential $12.5 Million

richmond SOLD

• 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) R traffic locations. Easy Well known coffee franchise with two FEhigh OF ER approx UND to manage. Combined sales $1m. Turnkey operation ............................................................. $499,000 both locations Lower mainLand autoBodY shoP

30 years in business. ICBC ValetOaccreditation since 2008. Well FFER ER oven. maintained paint booth Long lease on 3600sq.ft UNDwith shop .........................................................$249,000 inc equip 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

commerciaL BuiLdinG, 4023 hastinGs, BurnaBY $1.8m • For Sale or Lease 6000 sq ft total; deveLoPment Land, 1926 e. BroadwaY, vancouver • Great location at Victoria, one block from Sky Train; $1.78m rv resort, Penticton • Gross Income $208,448 Great location beside Skaha Lake • Great residential development potential; $2.1m 34 suite aPartment Bd, kamLooPs • Gross Income $265,000; moBiLe home Park, kamLooPs • Gross Income $177,000;

$2.75m $1.8m

moBiLe home Park, merritt • Gross Income $182,688; Expansion potential; mini storaGe Business, merritt • 147 Storage Units, 9% cap rate; 12 suite aPartment Bd, kamLooPs • Gross Income $121,800; 8 suite aPartment Bd, summerLand • Gross Income $53,700, With Dev. potential;

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

$1.775m

MUSIC SCHOOL (Lower Mainland) Long established with state of the art teaching equipment. $89,000 profit .......$259,000

$1.25m

FAST FOOD FRANCHISEE (North Vancouver) Mall location $320K Gross ........................................ $228K + Inv

$1.3m

HOBBY FARM (North Okanagan) NEW LISTING 26 acres Farmland + updated 4,200 s.f. Rancher $899K

$790,000

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

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

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

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 4,200 Sq. Ft. Service Space on 0.57 Acre Lot, Abbotsford BC • Zoned 1-2 (General Industrial) Price: $850,000 2.33 Acre Industrial Site, Maple Ridge • Zoned M-2 (General Industrial) Price: $950,000 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 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

wiLLiams Lake Portfolio $467,049, NOI, $6,225,000, Cap 7.50%, 5 Buildings 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. 3 sites 18,500 s.f. to 40,000 s.f. quesneL 1.7 Acre, 3 nationals, 19,500 s.f., $281,500 $4,700,000, 6%

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 doLLar store Franchise (Fraser Valley) • Established in 2001• Premier location in a large mall • 4,000sf store • $795,000 annual sales......... $148,800 + inv medicaL oFFices For Lease (Kamloops, BC) • 300 Columbia St. @ 3rd Ave. Directly across Royal Inland Hospital. 860sf or 1200sf........................................... $16/sF

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

Committed to Canada. Connected to the World.

A14 Recreational Real Estate LIFESTYLE PROPERTIES •••

•

www.westerninvestor.com NOVEMBER 2012 WESTERN INVESTOR

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

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

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

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

OAKS BLUFF LODGE & FARM PENDER ISLAND, BC

52 ACRE FARM CRESTON, BC

• • • •

Fertile developed farmland on the flats 22 acres hay/30 acres in cherry trees Sweethearts, Sandra Rose, and Skeenas Page fencing, drip irrigation and cleared serviced building site • Good op. for sustainable living. $619,000

• • • • • •

Unique 10 acre oceanfront estate property Successful established B&B with 3 buildings Lodge & cottage with breathtaking 360° views Coach house overlooks orchard & gardens Self-sufficient, abundant water, Farm Status NEW PRICE $1,595,000

PORT BROWNING MARINA RESORT – N. PENDER ISLAND

• • • • • •

Business with excellent cash flow!

Busy year-round pub, restaurant & marina SERIOUS development potential!

5.33 level acres & foreshore lease 920’ low bank oceanfront & 3,000’ wharf REDUCED TO SELL! $4,200,000

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

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

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

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

Rich Osborne 604-664-7633 Personal Real Estate Corporation

ECO–PARADISE HARRISON RIVERFRONT ACREAGE

SOUTH CARIBOO ACREAGES VIEWS OF LAC LA HACHE

LANGLEY LUMBER YARD & HARDWARE STORE

LAKEFRONT PROPERTY ON THE SUNSHINE COAST

MARINE HOTEL POWELL RIVER, BC

41 ac. 10 min. to Harrison Hot Springs 100’ dock, 2700 ft. south facing riverfront Log home plus 3 cabins & cook house Great fishing, perfect year round retreat Creek supplies water & hydro GREAT NEW PRICE $998,500

• • • • • •

Beautiful views of Lac La Hache Well treed Lots B, D & E are between 2-3 acres Lot C, 8 acres w/ potential subdivision Lac La Hache a short walk away Prices from $39,000 – $99,000

• • • • • •

Very high traffic location Major Nation Brand 11,000 sf of prime retail space 2 acres of lumber yard Solid business with growing client base Asking $585,000

• • • • • •

98 acres. 5000’ of south exposed frontage Beside Rainbow Falls on Powell Lake No zoning, no building permit process Sub dividable into 5 acre parcels Crystal clear, warm fresh water paradise $699,000

• 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

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

Carson Dorward 250-593-9342 carson@landquest.com

Doug Dyer 604-664-7634 doug@landquest.com

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

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

PONDOSY BAY WILDERNESS FISHING RESORT- EUTSUK LAKE

TULANI RANCH - BETWEEN BURNS LAKE AND HOUSTON, BC

BLUEBERRY FARM WITH COUNTRY ESTATE HOME

$1,800/ACRE…LARGE RIVERFRONT ACREAGE

FRASER RIVERFRONT CAMPGROUND, LILLOOET, BC

• • • •

• 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

• • • • • •

• • • • •

Operating under a Park Use Permit 5 self sufficient log guest cabins & shop kitchen/caretaker res., generator shed PUP (restrictions) rod days on Eutsuk Lk (100), Musclow Lk.(100) and Pondosy Lk.(50) Turn key operation. $495,000

• • • • • •

21 acres in Langley, BC 18.5 ac blueberry crop w/ 4 different types 4 bdrm, 4 bth custom built cntry estate home 4 bay detached shop A beautifully designed home $2,698,000

• Solid investment &/or recreational piece • 3hrs to Calgary/10 mins to Radium • Packed full of trails. Lots of water/on Columbia River & Luxor Creek • Priced well below purchase in 2006 • New steel Quonset hut. $599,900

• • • • • •

3.5 acres/800ft of river frontage 20 full service hook up sites 10 beachfront tent sites 3 bdrm cottage for rentals or home/office Beautiful sandy beach & views Across river from Lillooet. $449,000

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

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

Ken Hunter 604-340-1516 1-855-214-5263 ken@landquest.com

Matt Cameron 604-694-7628 matt@landquest.com

Matt Cameron 604-694-7628 matt@landquest.com

843.5 ACRES HOSMER (FERNIE), BC

MARMOT RIDGE GOLF COURSE 100 MILE HOUSE

1,900+ ACRE NECOSLIE RIVER RANCH IN FORT ST. JAMES

THE NEW 108 RESORT CARIBOO REGION OF BC

LYTTON, BC AIRSTRIP DEVELOPMENT

Dev. acreage? Mountain Bike Resort?

2 – 1,700’ heights of land w/ variable terrain Hosmer & Thorne Creek flow thru property Just minutes to Fernie or Sparwood Stunning views – numerous build sites $1,430,000

• • • • • •

• • • • • •

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

SHUSWAP LAKE DEVELOPMENT LANDS

238 acres – south shore Road access – 300 ft WF Great views, power, water 60 lot proposal ready to go HUGE REDUCTION to $1.19M Kurt Nielsen 250-338-6090 kurt@landquest.com

9 hole w/ immaculate grounds in town Restaurant + pub, great atmosphere 2 large inside racketball courts, pro shop Just under 30 ac in desirable area Great opportunity to buy 3 businesses in 1 Only $1,150,000

River frontage Productive hay fields Numerous outbuildings Extensive equipment list Turnkey operation, just add cows! $1,600,000

• 548 acres - 18 hole golf, tennis, horses, fishing, biking, hiking etc.

• 42 well-appointed guest rooms • Looking for investor/partners • Great development opportunities • $3,970,000

Heather and Mike Dillon 250-706-9680 heatherandmike@landquest.com

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

Konrad M. Schmid-Meil 250-395-2233 konrad@landquest.com

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

SHOAL HARBOUR MARINA SIDNEY, BC

PINEVIEW RANCH, KERSLEY BC

DEVELOPMENT ACREAGE PRINCETON, BC

LARGE RECREATIONAL & /OR INVESTMENT PARCEL

• 25 slips, marine service facility & upland property. Dev potential & existing revenue in superb location in the heart of thriving established boat community on Van Isl. • Zoned Marine Ind., pub/brew pub/condo • PRICED RIGHT! $2,600,000 Rich Osborne 604-664-7633 Personal Real Estate Corporation

• 975 ac. Deeded in 7 titles.

• Frontage on the Fraser River & Hwy 97 • Home, barn, workshop, corrals, outdoor riding arena. Great climate & soil conditions.

• Range permit for 289 head great hay production. Priced at $1,495,000 Rich Osborne 604-664-7633 Personal Real Estate Corporation

• • • • • •

120 acres of south facing land One 40 acre parcel & four 20 acre parcels 8 mins to Princeton Beautiful park-like sanctuary Mostly outside the ALR Sub-dividable $599,000 Sam Hodson 604-694-7623 sam@landquest.com

• • • • • •

• • • • • •

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

184 sub-dividable acres on Hwy 5A Located between Merritt & Princeton Completely outside the ALR Mixture of grassland & treed areas Lots of water & wildlife $1,280,000 Sam Hodson 604-694-7623 sam@landquest.com

A15

WESTERN INVESTOR NOVEMBER 2012 www.westerninvestor.com

RECREATION FEATURE Ponderosa Golf and Country Club sells dozen homes before golf course opens

Peachland golf bid beats the odds WI STAFF WeSTerN INVeSTOr

T

The south Okanagan resort, at Peachland, features an 18-hole golf course designed by Australian professional Greg Norman and plans for up to 2,300 homes, all to be developed over the next 10 to 20 years.

Developer Norm Porter of Ponderosa Development Ltd. bought the property out of foreclosure in 2007. Since then Porter has added to the 60-acre property by buying 200 adjacent acres from private owners and buying and leasing 150 acres from the Crown and the Westbank First Nation to assemble 410 acres above Okanagan Lake.

“Our vision is to build a sustainable resort of great golf and great homes,” said Ponderosa general manager and director of golf Douglas Goubalt.

“Ponderosa truly is special in the Okanagan.

Greg Norman has created a signature course here that takes full advantage of the views and the terrain.”

Ponderosa is starting to sell the real estate slowly. So far, only 69 townhouses have been released in its Trail development.

The two- and three-bedroom townhouses range in size from 1,250 to 2,000 square feet and are priced from $299,000 to $525,000 depending on size, finishing and view.

Twelve have already sold, according to sales and marketing director Julia Debolt.

Photos: Ponderosa Golf and Country Club

he Ponderosa Golf and Country Club, pulled from foreclosure three years ago and still a year away from the first tee off, is proving that golf-related real estate can sell.

Ponderosa Golf and Country Club above Okanagan Lake has strong home sales after being bought out of foreclosure five years ago.

The first 25 buyers of townhouses have their choice of $10,000 in upgrades or $10,000 toward a golf membership. Most buyers took the upgrades rather than the golf, Debolt said.

Lifetime golf memberships are $20,000, with annual dues of $3,000.

Over the winter, 135 plots of land to build single-family homes will go on the market and, by spring, building will begin on cottages facing the golf course and a planned winery, Debolt said.

Porter expects 60 per cent of the buyers will be couples, families and empty nesters from the Okanagan, with 15 per cent from Alberta, 15 per cent from Vancouver and 10 per cent from elsewhere. He suggests that most will be buying homes to live in, not as a vacation property.

The apparent success of Ponderosa – and the Wildstone golf resort in the Kootenays that Western Investor profiled last month – is an indication that the long-suffering B.C. resort market may be recovering.u

Whistler, Banff among hottest hotel markets

W

try” due to a decline in both tourism and convention bookings, Russell added.

Downtown Vancouver, at an average of $119, has the highest RevPAR in Western Canada, she noted, but was down sharply from a very good year in both 2011 and 2010.

In a survey of the western Canadian hotel market presented by CBRE’s hotel division, the conference was told that RevPAR is slowly improving across the western provinces.

British Columbia has an average hotel occupancy rate of 62 per cent and an average hotel rack rate of $139 per night, while RevPAR has increased 3.4 per cent from a year ago.

Alberta is posting a 65 per cent hotel occupancy rate, the typical hotel sells for $123,000 per “key” and RevPAR has increased 3.7 per cent since 2011.

histler, Calgary, Fort McMurray and Banff will lead the hotel market in Western Canada this year, while the big losers will be Victoria, downtown Vancouver, Richmond, Winnipeg and Kelowna when compared with revenue per available room (RevPAR) in 2011, according to North Vancouver-based HVS International.

“Whistler and Banff are coming off terrible years,” HVS regional manager Carrie Russell told the Western Hotel & Resort Conference in Vancouver. She expects Whistler to lead the market with a 15 per cent increase in revpar this year.

Fort McMurray and Calgary, Russell said, are benefitting not from tourism but from demand from the resource sector.

“Calgary is off the charts,” she said.

“As far as RevPAR is concerned, Victoria is among the worst markets in the coun-

Lower Mainland

Downtown Heritage Investment

Investment/Development FOR SALE

Kitimat Development Site FOR SALE

as

FOR SALE

Boulevard

La h a k

FOR SALE

Owner/User Investment

Terrace-Ki tima

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330 WEST PENDER STREET VANCOUVER, BC 6,976 SF beautifully restored Heritage A registered building • Great exposure on West Pender Street and close to Victory Square • Wide range of uses including office, retail and live-work • Five parking stalls and convenient access to multiple transit lines •

8486 GRANVILLE STREET VANCOUVER, BC Situated along the high profile Granville Street corridor • Located opposite Westbank’s Granville at 70th landmark development • Strong underlying development potential • Existing and stable holding income •

3760 SEXSMITH ROAD RICHMOND, BC 3,703 SF two storey office building High level of finishing suitable for professional office users • Close proximity to the Aberdeen Canada Line Station • Commercial/residential zoning • •

ou oB

HAISLA HILL KITIMAT, BC 190 acre site in the heart of Kitimat, a city anticipated for rapid growth in the energy, processing, storage and shipping sectors • Potential uses include residential, commercial and institutional development • Panoramic mountain and ocean views •

Ted Mildon

Matt Saunders

Matt Saunders

Matt Saunders

Matt Saunders

Ted Mildon

Baktash Kasraei

Baktash Kasraei

collierscanada.com/7437

collierscanada.com/7694

collierscanada.com/7632

collierscanada.com/7572

+1 604 661 0828 ted.mildon@colliers.com +1 604 661 0802 matt.saunders@colliers.com

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+1 604 661 0802 matt.saunders@colliers.com +1 604 661 0890 baktash.kasraei@colliers.com

A16

www.westerninvestor.com NOVEMBER 2012 WESTERN INVESTORW

COVER Housing sales heat up from Florida to California, but Phoenix looks like top play for Canadians

Sizzling in the Sun Belt

The BMo survey in July with the SP CaseShiller Index found that prices increased from 2011 in 20 U.S. cities surveyed.

fRank O’bRiEn

“Phoenix continues to lead the way with a 16.6 per cent increase over the past year,” said Guatieri. He added that other Sun Belt cities popular with Canadian snowbirds also continue to show strong price growth.

“Phoenix still represents a once-in-a-lifetime opportunity,” said Todd Smith of AZ Performance Realty in Phoenix, which specializes in guiding Canadian investors into what the Wall Street Journal has called the hottest U.S. housing market.

Smith said the change from 2008 when “our market fell off a cliff” to today is astounding.

Phoenix, which once had America’s secondworst foreclosure record, is now a robust, diversified economy ranked fourth in the U.S. in job growth. Major employers include Intel, Honeywell and Amazon, he said, plus large medical and green industries.

For the first time since 2008 private sales of homes have surpassed distressed or foreclosure sales, Smith noted. residential properties in Phoenix are selling for around $65 per square foot, he said, which is about 50 per cent below what it would cost to build them.

Meanwhile, the inventory of homes for sale has plunged from a level of two years of stock in 2009.

“This year the inventory will be around 1.6 months” due to a lack of new construction and soaring sales, Smith explained. With 11,000 homes for sale this year – compared with 57,000 in 2008 – more than 6,700 are expected to sell.

The median price of a Phoenix condo is Please see America page A19

WeSTerN INVeSTor

S

ale prices for condominiums in Miami, Florida, spiked 28 per cent in the second quarter compared with the first quarter and are up 34 per cent from a year ago. In a city once glutted with foreclosed homes, listings are now down a third from what they were in 2011 and some are predicting a shortage. Yet you can still buy condos for a third of what they would cost in B.C. or Alberta.

“Limited supply of condominiums is resulting in robust price appreciation,” said Martha Pomares, chair of the board of the Miami Association of Realtors.

In Nevada, Las Vegas, home prices rose for the eighth-consecutive month in September thanks to a tight housing supply and a record number of “short sales.” (Short sales are when banks agree to sell a property for less than is owed on it. Nevada leads the U.S. in home foreclosures.)

The median price of single-family homes in Vegas is now US$140,000, up 13.5 per cent from September 2011 according to the Greater Las Vegas Association of Realtors.

The median price of condominiums is $70,250, up 2.6 per cent from August and up 24 per cent from a year ago.

(As a comparison, the median price of a Vancouver condominium apartment is $421,000 and it is just under $300,000 in Calgary.)

In San Francisco, low inventory is driving double-digit increases in home prices and

Photos: AZ Performance Realty Photo: AZ Performance Realty

arizona realtor Todd Smith: “Phoenix still represents a once-in-a-lifetime opportunity.” RiGHT: this 1,787-square-foot detached house in Surprise, arizona (a Phoenix suburb), boasts three bedrooms, two baths and a pool. asking Price: US$154,900.

bidding wars have broken out across surrounding Santa Clark county. In San Jose, California, median house prices are up 17.5 per cent from 2011.

And all across the U.S. Sun Belt foreclosures have fallen, prices are rising and sales are bouncing back as the American housing market begins a long-awaited recovery.

U.S. housing prices have now advanced for six straight months, according to a survey by BMO Capital Markets.

“All major price indexes are rising in response to firmer demand and a shrinking

supply of properties,” said Sal Guatieri, BMo senior economist, noting that prospective buyers, who had watched prices fall more than 30 per cent since 2006, “could be tempted to come off the fence.”

In the bellwether Manhattan market of New York, sales are up 7.2 per cent from 2011 and the average price spiked 5.1 per cent to US$1.3 million in the third quarter.

The overall U.S. foreclosure rate has fallen to the lowest level since 2007 according to California-based RealtyTrac, which monitors foreclosure listings.

Phoenix

Lower Mainland Luxury 4-Star Hotel in the best location !

8-9% NET RETURN

Gorgeous hotel units, “strata” not time share. In one of the top hotels in the city, the Marriott Pinnacle Hotel.

Located in the best and priciest city location of Coal Harbour, with water and mountain views, steps to the convention centre, Robson St. & Stanley Park. A very healthy return of 8-9% on this carefree and headache free investment by sharing in the total revenue of this destination four star hotel. Multiple units from $177,000 to $179,800

Sutton Centre realty

1 BLOCK from POCO Town Centre 3 adjoining lots (8400sq.ft./9700 sq.ft./8400sqft.)

- Easy to build on site with a total of 26,500 sq.ft strategically located near shopping transportation, and schools an easy walk away. Build up to 2.5 FSR for a possible development of 80 units.

Financing & Trades Available

Monark.com

Owner is looking for a motivated buyer to take over the general mgmt & mktg of this young business.

Business Opportunity at half the price, and take over the dream. The lodge is a 16 room luxury post & beam, 2200 ft above sea level, on the picturesque Forbidden Plateau overlooking the Georgia Strait & the BC Coastal Mountains. Interior spaces have beautiful woodwork & stonework, professional chef’s kitchen, radiant heating throughout & inspiring views from every room.

Full Price: $2.3M Half Price: $1.15M

DuPLEx LOT - 2073 EaST PENDEr Solid rentable house on site – good holding property in an improving area, or build 2 large duplex’s NOW! $1,088,000

Tony alves 604 889-7008

Archie MacLean 604-885-4313 www.coastaltrekresort.com OCEANVIEW REALTY

www.tonyalves.ca

PENTICTON

604-592-7250

C O U R T E N AY, B C , C A N A D A Coastal Trek Lodge For Sale, or Half Ownership, & Take Over Business

DEVELOPMENT SITE

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

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

PHOENIX 25 23 Renovated & Leased Houses 8% Net Return

BUILDING LOTS Port Coquitlam from $400K White Rock 1/2 AC Building Lots 1 million

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

COMOX Commercial Retail Space Up to 7000 sq ft.

2nd Floor Office up to 6000 sq ft.

Sale or Lease

VANCOUVER Telus Garden 3 Level Penthouse Presale $1500/ft

WESTERN INVESTOR NOVEMBER 2012 www.westerninvestor.com

Lower Mainland A17

BDO is committed to developing long-standing relationships with our clients, which allows us to provide greater insights while fulfilling their needs.

WE STRIVE TO MAKE LONG-TERM RELATIONSHIPS. From Vancouver to St. John’s and over 100 offices in between, we’re able to build local, long-term relationships with our clients, including over 7,000 real estate and construction clients.

BDO. MORE THAN YOU THINK.

Assurance | Accounting | Tax | Advisory www.bdo.ca

BDO Canada LLP, a Canadian limited liability partnership, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms.

A18 Lower Mainland FORRES PACIFIC PROPERTY MANAGEMENT YOUR PARTNER FOR SUCCESSFUL REAL ESTATE INVESTING PROPERTY MANAGEMENT AND CONSULTING SERVICES FOR THE LOWER MAINLAND AND FRASER VALLEY

Port Kells, surrey near Freeway 6.75 acres future res. Dev. Site , not in ALR, has city water. Good lg. home & shop & income . Well priced at $1,790,000 surrey / langley Hotels Good packages from $3.8million Also sm. to lg. res parcels near freeway VancouVer DeVeloPment sites Commercial & mixed Commercial / Residential, From $12.5 million

SCOTT ETTLES DAYTIME EVENING

www.westerninvestor.com NOVEMBER 2012 WESTERN INVESTORW

604 576 4407 604 724 1787

RAY LEWIS

www.forrespacific.com settles210@aol.com

West Coast Realty LangLey

604-812-9733

Get the Power.

Each office is independently owned and operated.

Development Opportunity - Chilliwack Multifamily/senior care, Land Assembly (5 homes), Rental income $3900/mo, No Rezoning Required. $1,200,000 Established Franchise Resales - Langley Taco Del Mar, Busy location, Turn Key. $98,888 Baskin Robbins - Kamloops Turn Key, Excellent location.

$98,888

Neeraj Sood CCIM (candidate)

Commercial Investment Specialist

1-800-668-8661

neerajsood@remax.net RE/MAX Little Oak Surrey

www.neerajsood.com

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. $99,000+ Inventory.

UNIfORm ShOP Sales: $500,00 +/yr Established 30+ years net Profit: $84,000/yr $199,000 + Inventory

LEASE SPACE 25,000 - 35,000 square feet for a College anywhere in the Lower Mainland.

Please contact

RE/MAX SELECT PROPERTIES

Michael Pearlman 604-307-4800 / Iain MacDonell 604-328-3929

- Fully upgraded - Downtown location Asking 1.9 Million Revenue $525,000 +

Contact us for more details

- Over 10% cap - Tourist hub

BcHotelsForSale.com Gas Stations Liquor Stores Motels

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

Raman Arneja 604-355-1000 Nationwide Real Estate Agents

An Independent Member Broker

commercial.remax-western.ca FrANChISe OppOrTuNITy

West Point Grey, Vancouver, BC Rare Combination 3 Storey $2,888,000 • 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

10 ACRES WITH DEVELOPMENT POTENTIAL LOCATED IN ALDERGROVE Build your dream home or good holding property for future development. Great location.

Asking $850,000 GREAT DEVELOPMENT OPPORTUNITY! CHILLIWACK’S FINEST VIEWS

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

WANTED

- Steady income - With Pool & Sauna

To view commercial properties or find a RE/MAX Commercial practitioner near you, visit

Please contact

RE/MAX SELECT PROPERTIES

We have the RIGHT business to suit your needs from $200k to 25 Million

This is the last large parcel of land available on Promontory to be developed. Total site of 36.43 acres for a total of 7 parcels. Comprehensive development zoned allows for mixed development options for single family/ townhouses/apartments.

Plus DCC’s have been paid for by current owner for 84 townhouses, in the amount of $1,416,000.

Stunning views of the valley. $10M. www.goldspringhomes.com

BRYAN VAN HOEPEN Personal Real Estate Corp.

RE/MAX NYDA REALTY Tel: 604 858-7179 Toll Free: 1-800-830-7175 www.bryanvanhoepen.com www.bryanvanhoepen.com

Blenz Master Franchise in Vancouver, Vancouver Island, Ontario & Alberta Blenz Franchises �������������������������� $188K, $320K Steamrollers Franchises Available ��������� $179K Wired Monk Individual Franchise Opportunity Wired Monk ���������������������� $67K - $99K - $149K Wired Monk New Franchise - Fraser Hwy Drive-Thru, Langley��������������������������������������$278K Sandwich Tree master franchise opportunity �������������������������������������������������������������������$235K

www.matthewmoadebi.com www.vancouverfranchise.ca

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

VANTAGE HEIGHTS Mission - For Sale or Lease Proposed 12,000 sq. ft.

Commercial Building, Two Storey, N.E. Corner www.VantageHeights.ca Hurd & Lougheed. High exposure. Zoning: CH 1 FLAGSHIP PROFESSIONAL Maple Ridge Core SALE OR LEASE 3 STRATA UNITS Office & Retail 900 to 1500 sq.ft.

From $20/sq.ft. Lease NNN EDGEWOOD CENTRE PITT MEADOWS 9 unit strata building.

Occupied units for sale.

Investment opportunity from $300K. Office & Retail lease frm $14 sq.ft.

KEYSTONE: Harris Road Pitt Meadows SALE/LEASE 2 Units 825 & 954 sq.ft. retail/office from $22/ sq.ft. Great Exposure & Parking.

Kitsilano RestauRant Gramercy Grill 2685 Arbutus St. - 1800 s/f - 60 seats + 24 on patio - Sales - $1Mil, $50K Net - American cuisine, Est. 12 yrs - Priced for quick sale $199,000 Mixed use Building 337/339 E Hastings (Near Main) - 3 parking stalls, 3 lvl, 6166 s/f - 24 years old - Concrete Block Const.

- Fully rented at $6800/mo net Price: $1,388,000 davie RestauRant 1175 Davie St. (Near Thurlow) - Laziza Modern Mediterranean - newly established (Jan 2012) - West End loc. 1500 s/f w/48 seat - 8yr lease + 5yr option, $7250/mo all in - Sales: $50k/mo Price: $199,000 Retail stRata units 907 Denman, VancouVer 808 s/f and next door which is 1000 s/f also for sale.

Lease rate: $60/ft. Presently leased out to a shoe store Price: $939,000 1740 – 4311 HazelbriDge Way, rmD Was used as a clothing store, and rented @ $1700/mo. Strata Fees $400/mo. Lowest priced unit in Parker Place Mall. Price: $119,000

Les Twarog (604)671-7000

Call me for a comprehensive report on all commercial properties available in Maple Ridge/Pitt Meadows

AdriAn KeenAn 604-312-6488 www.AdrianKeenan.com

RE/MAX Lifestyles Realty

1428 W 7th Ave., Vancouver, B.C. To view listings please visit:

www.6717000.com/biz

Crest Realty (Westside)

With connection in more than 85 counties worldwide put the Power of the RE/MAX brand to work for your commercial, industrial, agricultural, investment or international real estate needs.

Get the Power. commercial.remax-western.ca

Each office is independently owned and operated.

Lower Mainland A19

WESTERN INVESTOR NOVEMBER 2012 www.westerninvestor.com

AMERICA from A16

US$57,000, with detached houses selling at a median of around US$130,000.

Smith noted that the Phoenix area now has 3.8 million residents and is projected to have 4.6 million by 2020, an increase that is leading U.S. growth projections. Meanwhile, its jobless rate has fallen to 7.3 per cent, comparable to B.C. and among the lowest of any major urban region in the U.S. Projections, he added, are that, compared to zero housing starts in 2009, an estimated 11,000 new homes will start construction this year in the Phoenix area.

But house prices are still incredibly low in comparison with B.C. or Alberta – where most Canadian investors hail from – and rental demand is solid.

“Phoenix is on fire,” agreed Linda Gerchick, head of Gerchick Real Estate Team in Phoenix. Gerchick estimated that median detached house prices in Arizona’s biggest city have increased 23 per cent this year compared with 2011. Projections are that the big recovery in Phoenix will be in 2015-16, Gerchick told a recent Vancouver real estate conference.

“There is still time to get into the Phoenix market, but you have to work harder to get

Lindsey Gauthier

Sidebar:Personal Real Estate Corporation How thelgauthier@sutton.com U.S. Sunbelt condo prices have changed City

NEED NOW!!!

Miami

$272,900 $70,250 $240,000 $59,000

San Diego Phoenix

EXCLUSIVE LISTINGS

9.9 per cent 24$3,200 per cent Month Income 14 per cent 15 per cent

GREAT TENANTS

$1,900,000 INVESTOR ALERT!!!!

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. $169,900 For information on these properties or other Powell River investments

CONTACT US TODAY

NOW IS THE TIME!

MECHANIC SHOP This business makes money $$$$$$

Legal 4 Plex! Beautiful 4 Plex in a great area of town with a fenced back yard, Shop in rear, RV Parking, Too much to List. This is a newly renovated 4 Plex with two 3 Bedroom units and two 1 Bedroom units with Fridge, Stove, Washer & Dryer. This is a great investment property. House was built in 1984. This is a Dynamite Investment Opportunity!!!

Established business that has a dedicated Clientele and is located on a main arterial road.

C2 Zoning, large freestanding building with 7 bays including a RV bay, ample parking, office space and classroom located on the second floor. building is over 5,000 sq.ft. with 2 floors and the purchase includes the Business, Building and Land.

$579,000

$1,650,000

Source: Miami, Las Vegas, San Diego, Phoenix real estate associations.

All prices in US$ as of September 2012.

Rare and hard to find established turnkey auto recycler.

Owners have been doing this business for over 25 years.

Large inventory of high end salvage and a customer database of over 3000.

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

BUY IN CHILLIWACK

$3year- ago $15 MILLION SHOPPING CENTRES Median price Increase from one 604-798-2977

Las Vegas AUTO RECYCLER

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

the deals,” she said.

Gerchick said that with an U.S. Sun Belt condo prices have changed influx of new workers and City Median price Increase from one year ago students, Phoenix is becomMiami $272,900 9.9 per cent ing an ideal rental investment Las Vegas $70,250 24 per cent for Canadian investors.

San Diego $240,000 14 per cent “Phoenix is the most land- Phoenix $59,000 15 per cent lord-friendly city in the U.S,” Source: Miami, Las Vegas, San Diego, Phoenix real estate associations. with no rent controls and a All prices in US$ as of September 2012. three-day eviction process, sometimes within 24 hours. While the over- US$1 million (or $35,714 per unit); all vacancy rate in Phoenix is around 9 per • a 2,100-square-foot detached house in cent (about three times higher than in western Surprise, Arizona (a Phoenix suburb), with Canadian cities), she said that when you look four bedrooms and a pool. Rented for $1,295 at specific properties, like detached houses, per month. Price: US$175,000; and or areas, such as near the 67,000-student • a 1,326-square-foot, two-bedroom-and University of Phoenix or the new $3 billion -den townhouse in a Phoenix gated commuIntel plant, rentals become tighter. nity with a pool. Price US$104,000.

Said Smith: “For a cash-on-cash investHouse with pool $104K ment, it is possible to see a 19 per cent annual So how good are the Phoenix deals? Gerchick return in Phoenix real estate.” trotted out these recent examples of listings Canadians now make up the bulk of foreign aimed at Canadian rental investors: buyers in the Phoenix market and demand • a four-plex rental building in Mesa, appears to be rising even as the bargains Arizona (a Phoenix suburb). All the units are become harder to find. two bedrooms with 1,000 square feet and all According to the BMO survey, 16 per are rented. Price: US$195,000; cent of Canadians would consider buying • a 28-unit apartment building in Phoenix, a U.S property. About one-third (29 per a mix of one- and two-bedroom units with a cent) of these Canadians are seeking an net operating income of US$75,000. Price: investment.u

DEVELOPERS 4 LOTS!!!!

4 lots that make a large corner lot in a residential area of town. 2 bare lot, and 2 rental homes.

This is a great purchase for someone wanting to build multifamily building in a quiet area of town close to all the amenities. These properties add up to 34,056 sqft of land.

GREAT BUSINESS INVESTMENT

$799,000 BED AND BREAKFAST

Commercial Building with fantastic Hwy #1 Exposure located in a busy growing commercial area. 4 Bays with separate entrances plus an upstairs apartment. 4 Strata Units FULLY LEASED with great tenants. 0.44 Acre Lot, 10,954 sqft. Leaseable Area. Deville paint booth in end unit, Roof Report available, Electrical and Heating has been inspected. M2 – Service Industrial Zoned Property.

THIS IS A GREAT BUILDING!!!!

BUSINESS ONLY for sale!!! Largest Laundromat in Chilliwack. Great Clientele, Corporate Accounts and located on a busy road, surrounded by lots of residential rental buildings for a flowing supply of Laundromat customers. This is a great business generating a good income.

4400 Sq.ft., Custom Built, 5 Bedroom House plus den on Corner Lot on a Flat .42 of an acre. Breath Taking Covered Deck. 3 Gas fireplaces, Gourmet Kitchen with Island and Granite CounterTops. Impressive Master Bath ensuite with walk in shower. New septic field.

$1,550,000

$125,000 FIRM!

$939,000

INVESTMENT PROPERTIES FOR SALE

Motel/Pub/Restaurant – COURT ORDERED SALE

RETAIL WITH UPSTAIR APARTMENTS

3 Titled properties. 2,713 Acres. 2 level 12 suite apartment, 50 seat Pub with 50 seat Patio, Office with a 3 bedroom, 2 bathroom Residence with unfinished basement. Motel with 7 kitchenette units, and 4 bedroom 2 bathroom Penthouse. 2 Level Motel with 10 units, and a Cooks Residence with 2 bedrooms 1 bathroom. Restaurant..

Versitile Building! Commercial Storefront on the mainfloor, residential units upstairs. Lots of Parking in front and rear of the Building. Lance access to rear parking. This is a classic building and a must see. 2 commercial/3 residential units.

$798,000 MLS®H3120280 $599,900 STRATAFIED BUILDING WITH 3 UNITS 3 STRATA UNIT BUILDING

MLS H3120313

Large lot best suited for industry and industrial sales activities relying in part on open storage and display. A wide variety of uses are permitted including Warehousing, Light Manufacturing, Food Processing, Service Industrial, Convenience Commercial, Accessory Office and Sales, Accessory Dwelling Unit, and Open Storage.

House on the property for rental income or use as an office for your business. Prime area with lots of room to build, with road frontage, rail spur, and located in the heart of Chilliwack

$1,099,000

H3120026

EXCELLENT LOCATION! BUILD HERE 1.66 Acres in 2 Titles, zoned M2 in an absolutely prime location. Highway #1 exposure, access from Yale Road, or Chalmer Place (cul-de-sac). Set in the heart of the industrial area with easy access to the City and National transportation routes. Zoning allows for wide variety of uses. This property is in a desirable arterial route on Yale Road located between Evans Road and Lickman overpass. The area is booming in new development, and is the place to be for an industrial business.

$1,580, 000 MLS®H3120202 & 204 THIS UNIT IS PRICED TO SELL

RESIDENTIAL/COMMERCIAL STOREFRONT

4,400 sqft. Building on 8,000 sqft. Stratafied lot with a large bay door on the Mechanic Shop, Residential Suite, and Beauty Salon. Great for a business owner looking to own their own REAL ESTATE. This is a great 3 unit Strata to increase your investment portfolio.

3-1,000sq.ft. Units that can be sold together or separately. The visibility and walk by traffic is phenomenal. This is a great opportunity to purchase the entire strata building, or just buy 1 or 2 units. This has a stylish exterior and has been completely renovated to new.

$599,000

$575,000 or $195,000 each

MLS ®H3120167

1.58 ACRES OF M2 ZONED LAND

MLS®H3000403/405/407

Lindsey Gauthier Personal Real Estate Corp.

3 Bedroom home with den upstairs, and retail space on main floor. Commercial and residential investment opportunity in downtown core of Agassiz.

FULLY RENOVATED, and endless potential for the main commercial space. Tons of retail exposure being on an arterial route. This is a must see property.

$329,000

H1203143

1,364 sqft strata commercial end unit. Located in Agassiz’s “Village Square” an attractive 8 unit in high traffic area. This is ready for owner improvements and your creative ideas. Well priced, well located, with immediate possession possible.

$169,900

GauthierTeam.com

H3120143

showplace realty ltd.

A20 Lower Mainland

www.westerninvestor.com NOVEMBER 2012 WESTERN INVESTOR

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. Sale Pending.

FLY - IN SALTWATER FISHING RESORT DUNDAS ISLAND, BC

Fraser Valley 43 pad MHP with house and RV storage on 5 acres. Asking $4,000,000 Hatzic Prairie Market Convenience store/Gas station and cafeteria with owners accommodations.

Serving the rural area. ½ acre lot with large outbuilding that was used for feed sales. Be your own boss. Asking $539,900

Bill Summers

Direct Line: 604-626-8894 Email: bsummers@telus.net www.sellingmobilehomeparks.com

$1.75 Million.

Well established, located in pristine park (with permit), 14 guest floating lodge. Contact: 250-600-4645 or JenNelson64@gmail.com

www.haa-nee-naalodge4sale-com.webs.com

LANGLEY, BC

FOR SALE

LOT & BUILDING ( Share Sale )

1.6 Acre / C-3 Commercial Zoning / Excellent Location - 232 St + Fraser Hwy $60,000 income per year.

Corner lot / Big Potential !!! $ 2,380,000

MICHAEL LEE Prudential Sussex Realty Cell 604-328-8405 mymichael36@gmail.com

KELLY JOHNSTON 604-793-9900

Kjohnston@sutton.com DEVELOPMENT

8000 Nixon Road

INDUSTRIAL

604-793-9900

schroederj@sutton.com

CHILLIWACK DOWNTOWN BUILDING

INDEPENDENT LIVING CHILLIWACK BC $ 1,350,000

For Sale or Lease $1,795,000

For Sale $758,888

Buy now for an Estate Lot and take advantage of Development potential coming up soon. Right across the road from The Falls Golf Course is a 18.9 acre property of gently undulating land with spectacular panoramic views.

Call for info package.

Priced for quick sale.

45745 Cartmell Road

JIM SCHROEDER

Sutton Group Showplace Realty Ltd.

35 acres of land fronting the mighty Fraser with loads of potential. 10.1 acre of usable land leased and taking in $7000/m. There is approximately another 2-3 acres to lease at $1500/acre. Zoned heavy industrial. Lots of water and Power onsite. Well priced at $180,000 per usable acre.

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.

This independent living facility contains 14 living units, inspected/approved kitchen, large common areas, generous outdoor decks and walkways situated in an executive residence, in above average neighborhood, amongst fabulous giant cedars.

Located in Chilliwack on 1.07 ac of landscaped paradise set-back with a stone & wrought iron fence - this property is zoned and fully occupied.

RESTAURANT FOR LEASE CHILLIWACK 102-46675 Yale Road Chilliwack MLS # H3120244

Very low lease rate of $9.00 /sft. for 2392 sft or only $1794.00 per month. Licensed for 96 patrons. Liquor license in place.

For more details call Jim Schroeder 1-888-355-6771 For more details call Jim Schroeder 1-888-355-6771 SILVER CREEK AREA HOPE, B.C.

Potential 18 Lot Subdivision 30 Lot Strata Subdivision 30 LOT strata subdivision on the banks of the Potential 18 large family lot size subdivision on 5.37 ac INDUSTRIAL PARK - BUSINESS - WAREHOUSE beautiful Silver Creek with with RS - 1 zoning in place. Potential zoning in place and all other for all services to come through 5-8030 requirements substantially adjoining property at 63650 Flood Hope Rd Enterprise Way 30 Lot Subdivision in place on this 4.95 ac REDUCED from $350,000 – $299,888 or property and all services are NOW ONLY $280,000 $8.95/sqft at the property line 19746 Foster Rd, Hope BC Potential 18 Lot 45891 and 45885 Alexander Ave. With the Offered price of Also, available is the ad-joining 4.95 ac Subdivision For Lease $10/sqft $1,200,000 and low DCC’s on 63650 Flood Hope Rd. 2 units available. Recently vacated by long term your developer will make 22x72 deep space with back access for 14’ loading tenants. Great retail exposure. Back access for great profits. 63650 Flood Both properties are located in the door. 3 phase power converter. All leasehold loading door. Mezzanine and office space all built.

Hope Rd, Hope BC beautiful Silver Creek area with loads work is done. Reception, stock area, bathroom, 4 units in all. 2122 sqft of finished space. Great Also, available on exclusive of recreation, close to school and great mezzanine. Ceiling height is 22’. Zones M-2 light for a range of industrial or retail uses. Zoned M-1 bases is the adjoining 5.37 ac for an easy #1 hwy access. Numerous new gold mining activities plus industrial. light industrial.

18 large family lot subdivision potential. other new commercial ventures makes Hope the place to be.

PROFESSIONAL OFFICE SPACE –from $1500/m all in. - call for info packages

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.

Staples Plaza – 1000 sqft – 2 units available – retail / business with incredible exposure and numerous anchor tenants - $14.50 and $22.00.

First month FREE!

Gaetz Plaza – Sutton Downtown 1128 sqft – 2nd Business Centre floor – Move in – from $250/m ready – Just set up for Virtual office the desks. 4 large address with full offices, lunchroom, range of services to $750/m. Boardrooms, Handicap bathroom, technical bathrooms, large beautiful lobby, full time staff and room and reception lots of FREE parking. under $1500/m.

A21

WESTERN INVESTOR NOVEMBER 2012 www.westerninvestor.com

tenants in the building who have recently renewed to find out how much they are paying now and how smoothly the negotiations proceeded.

6. Ask questions about the property and the landlord. Commercial tenants shouldn’t rely on what the property manager, leasing representative or broker voluntarily tells them about a specific property or leasing opportunity. The Lease Coach typically poses questions such as these: How long has this landlord owned this property? Is the property for sale? How many landlord inducements as other properties does the possible – free rent, a tenant landlord own? Is there local, allowance, no deposit, a low on-site management? What rental rate, a great location is the vacancy rate? You may and so on. The landlord and be surprised with the concluhis agents are playing to win sions you can draw from the and so should you. Negotiate answers to your questions.

7. Keep your success quiet. aggressively!

One of the reasons why your 4. Ask for more than you landlord will raise your rent expect to get. By “asking,” for the lease-renewal period I mean that you should be is due to your success. If you negotiating for more than have been profiting in a paryou expect to get. Ask for ticular location, you likely will eight months of free rent dale willerTon not want to move even if you if you want five. Ask for an $80,000 tenant allowance if you want can afford the rental increase. Some landlords $60,000. This allows for wiggle room for will take advantage of franchise tenants (and negotiations. Many commercial tenants are other business owners), knowing how expendisappointed with the outcome of their nego- sive it can be to move and set up a new frantiations because they neglect to build in room chise location. to negotiate. Just like a boxing match, nego8. Don’t accept the first offer. Once your tiations should go a few rounds – that is the landlord has made the first offer regarding nature of the real estate industry. your lease renewal, the real negotiations 5. Talk to other tenants. You can gain a begin. With patience and good communicawealth of information by talking with ten- tion you can improve almost any first offer, ants who have recently moved into – or out which may be nothing more than a smokeof – the building. Be direct. Tell those tenants screen anyway. One landlord’s first offer to who you are and explain why you have come my client, a doctor, was at $28 per square to see them. Ask for their comments about foot. I was able to negotiate a long-term deal the landlord, the property management and at under $10 per square foot. This saved the the rent. For lease renewals, talk with other client over $2,500 per month in rent for the

11 leasing dos and don’ts for commercial tenants who want to get more than they expect to get

Leasing and negotiation I n leasing, tenants don’t get what they deserve – they get what they negotiate. From my experience, here are 11 tips that hold true for you – whether you are looking at a new commercial space or coming up for a lease renewal.

1. Create competition for your tenancy. Negotiate on more than one location simultaneously – especially with lease renewals. Even if you don’t want to move, create options so you can play one landlord against another. Share with each landlord that you are receiving proposals on other sites.

Remember, the tenant is the customer and the landlord is the seller. The Lease Coach makes the landlord earn your tenancy.

2. Start the planning and site-selection process well in advance. For existing commercial locations and lease renewals, I recommend that you start at least 12 months ahead. This allows ample time for completing paperwork, searching for alternate sites (if necessary) and accounting for Murphy’s Law. If you can’t secure a good deal within the first few months, you can still exercise your option to renew or start the relocation process.

3. Negotiate to win. Many tenants are so focused on not getting taken during the leasing process that they completely forget to negotiate to win. You want to get as many

commercial leasing

entire renewal term.

9. Do negotiate for lease-renewal incentives. For some reason, commercial tenants neglect or are simply fearful of negotiating for lease-renewal incentives. If your lease is expiring, ask yourself what inducements would the landlord give to a new tenant just coming into the property? Examples of such inducements would include free rent and tenant allowances. If these were there for the offering to a new tenant, then why wouldn’t an established tenant – with a proven track record – get the same (or more) consideration?

10. Don’t misunderstand the role of the broker/agent. When doing site selection you should phone the number on the “For Lease” sign on the building. Be aware that if multiple agents are involved there may be commission splitting. This may diminish your chance of getting a location if the listing agent finds his own tenant to lease the space.

11. Avoid giving unlimited personal guarantees. A personal guarantee is an entrepreneur’s promise to honour the lease agreement if the tenant or corporation defaults.

Sometimes a personal guarantee is necessary, but I will recommend opting for a “limited declining personal guarantee.”

These are only a few of the dos and don’ts that will help you when it comes to negotiating your new lease or renewal. Remember: your success will ultimately depend on your location and the deal you make.u

Dale Willerton, the Lease Coach, is a commercial lease consultant and author of Negotiate Your Commercial, Retail & Office Lease or Renewal. Phone 1-800-7389202 or visit www.TheLeaseCoach.com.

For a free copy of the CD, “Leasing Dos & Don’ts for Commercial, Retail & Office Tenants,” please email DaleWillerton@ TheLeaseCoach.com.

Lower Mainland LD

SO

353 WATER ST.

E DUC E R CE PRI

CE EDU R E C PRI

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LD

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21 WATER ST. - The Packing House

• 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) REDUCED PRICE: $ 988,000 $968,000

PARIS ANNEX COMMERCIAL RETAIL/OFFICE UNITS • 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)

LD

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1523 E. PENDER ST.

1428 W HASTINGS ST. – DOCKSIDE LIVE/WORK TOWNHOME

REDUCED PRICE: FROM $389,000 $359,000

LD

LD

SO

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611 POWELL ST.

E DUC

350, 356 & 360 CARRALL ST.

608 W PENDER ST./515 SEYMOUR ST.

EW

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• 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

D

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) REDUCED PRICE: $1,990,000 $1,750,000

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.

A22 Lower Mainland

www.westerninvestor.com NOVEMBER 2012 WESTERN INVESTOR

www.AlbertaInvestor.com

CHILLIWACK RETAIL BUILDING #3 – 45150 Luckakuck Way

WANTED:

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.)

fraser elliott 604.728.2845 fraserelliott1@gmail.com RE/MAX Progroup Realty

#101/#103-7225 Brown Street, Delta

$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

ApArTMENT builDiNGs AND MulTi-fAMily siTEs iN bC & AlbErTA WE ARE LOOKING TO PRESENT YOUR REAL ESTATE PROJECTS TO CHINESE INVESTORS

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

iNvEsTMENT opporTuNiTiEs

fraserelliott1@gmail.com RE/MAX Progroup Realty

CAMpbEll rivEr, bC

WANTED

1-800-661-6988

WiNEry iN AlbErTA or briTish ColuMbiA MiNiMuM 50 ACrEs of lAND.

www.westerninvestor.com Ray Veenbaas LITTLE OAK REALTY 604 309 0257

$3.5 M $2.2 M

Jerry raczkowski 780-932-2121 • jrcoach@telus.net

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"

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

re/MaX real estate 10510 121 St., T5N 1L4 Edmonton, AB

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 $57,500 Net (6.75% CAP) 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

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"

A23

WESTERN INVESTOR NOVEMBER 2012 www.westerninvestor.com

FEATURE B.C. investors urged to look north and into Alberta and Arizona for best, quickest returns

Real estate outlook FRAnk o’bRiEn

WESTERN INVESTOR

T

That was the conclusion drawn from Ozzie Jurock’s 20th annual Real Estate Outlook Conference, held in mid-September amidst Vancouver’s slow-motion residential real estate crash.

Housing sales across Metro Vancouver have plunged more than 30 per cent this year from the heady days of 2011, and Jurock told some 700 conference delegates to not expect a speedy upturn.

“Sales will not improve for at least four, perhaps six months,” Jurock said. He added that Vancouver is seeing the emergence of two separate housing markets: “the super rich and everybody else.”

The former, he said, is seen in West Vancouver tear-down houses selling for $4 million and a record 30 West Vancouver homes selling on MLS for more than $3 million this year – and nine of these for over $6 million.

The latter is seen in a 33 per cent decline in MLS housing sales and a 17 per cent spike in listings as of September.

Jurock forecasts that average Metro Vancouver house prices will drop 10 per cent this year, while resale condominium prices will fall 15 per cent from a year ago, and 20 per cent from the peak seen in early 2011.

Photo: Marc Jurock

here will be no recovery in Metro Vancouver housing sales for at least six months and investors looking for quicker returns should be scouting south, north and into Alberta.

Some 700 delegates packed into the 20th annual Jurock Real Estate outlook Conference in Vancouver to hear of opportunties going into 2013.

Developers of new condo projects will be offering incentives to buyers in a glutted market over the next few months, he said, and buyers who haggle hard can get some very good buys this fall and winter.

“The best deals are always found in down markets,” Jurock noted.

However, over the next three to 10 years, Metro Vancouver housing prices will increase across the board because of the B.C. resource boom, an increase in foreign investments, inflation and a generally strong economy, Jurock forecast.

He encouraged long-term real estate investors – or “flippers” – to look into northern B.C., particularly Kitimat, Terrace, Dawson Creek, Fort St. John and Prince George, all of which are benefitting from billions of dollars in resource and infrastructure investments.

The return of Alberta buyers will lead a slow but steady increase in real estate values

in the Kootenays and the Central Okanagan, Jurock said.

Head north

Calgary-based Dave Steele, head of Western Canadian Properties Group, steers investors into small-town resource markets in Western Canada. He agreed that northern B.C. is a prime play.

In Dawson Creek, Steele and 125 investors recently bought and fixed up a 32-unit townhouse project. The $217,900, two-bedroom units rent for $1,500 per month and generate positive cash flow of $314 per month, Steele said.

Western Canadian Properties is now building a separate townhome project that will complete this October, where condo units are expected to sell in the $230,000 range.

Steele believes the western resource sector is heading into the biggest boom in Canada’s

history and he told investors to “get off their butts” and share in it. “The world needs resources and Canada has those resources.”

He added, “There is $40 billion in investment going on in the north,” citing the $6.6 billion Site C demand and new LNG plants and pipelines. More than a million jobs will be created across northern B.C. over the next 20 years and the population will double in less time than that, he said.

Other speakers at the all-day conference told buyers to forget B.C. altogether and move their investments east to Alberta or south to Arizona.

Alberta bound

Alberta is the real centre for the resource boom and the place where rental investors should be today, according to Calgary-based Domenic Mandato, founder and president of InvestPlus Properties Canada Ltd. Alberta has no rent controls, so InvestPlus and its investors buy older mid-market apartments, fix them up over a year, immediately raise the rents to market levels and then sell them, Mandato explained.

InvestPlus offers limited partnerships for investors and, according to Mandato, returns of from 24 per cent to 44 per cent for investors are not uncommon.

Look south

Linda Gerchick, who heads the Gerchick Real Estate Team of Phoenix, said the fastrecovering Arizona market offers the most potential for nimble investors.

Gerchick recommends Canadians buy rental property.

“Phoenix is the most landlord-friendly city in the U.S.,” with no rent controls and a threeday eviction process, sometimes within 24 hours, she said.u

Lower Mainland

D

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RED

34594 4th Ave., Abbotsford 0.38 Acres - High Exposure C3Zoning

MLS# F3200005 $599,000

7648 197th St., Langley MLS# F1209538 2 Acres - Latimer Plan Townhome Designation $1,595,000

CED

32270 Lougheed Hwy., Mission MLS# 3201287 5.03 Acres - High profile Commercial site $4,500,000 Adjacent to SuperStore & Rona

8242 200th St., Langley 2.24 Acres - Prime Investment Land

MLS# F1223185 $2,450,000

20680 72nd Ave., Langley MLS# F1223844 1,008 Acres - Designated Residential $749,900 Northeast Gordon Estate NCP

2815 Station Rd., Aldergrove 0.79 Acres - Out of ALR Immediate rezoning potential

MLS# F1224253 $650,000

CED

U RED

U RED

34801 Delair Rd., Abbotsford Approved 31 Unit Townhome Site

$1,860,000

21722 Maxwell Cr., Langley 5.02 Acres - First Time For Sale

We have buyers for development sites in the Fraser Valley.

MLS# F1209709 $988,000

Please contact JOE VARING at 604-859-3141

w w w. VA R I N G G R O U P. c o m

A24 Lower Mainland/Sea to Sky/Vancouver Island CORNER STORE & GAS BAR

SunShine CoaSt established Motel For Sale

FOR SALE OR LEASE

www.sunshinecoastrealty.ca

Oceanview Realty

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

   

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

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

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

BARBARA: 250-337-5736 or barb_gallant@hotmail.ca



  



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

Commercial REALTORS® know the market.

In fact, we work in it everyday.

30 Unit Multi-Family Dwtn 28,000 SF buildable

$1.08 mil

59 Unit Multi-Family Dwtn 10 Acre Riverfront Lots

$2.15 mil $1.175 mil +

Retail for Lease off Hwy 99 1,300-10,000 SF Facing Home Depot, Walmart & Rona Commercial Site on Hwy 99 C-3 gateway site: DP for 82 unit hotel

$1.65 mil

1 Acre Light Industrial lot

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

$599k

RE/MAX Sea to Sky Real Estate Squamish

WHISTLER SPECIALTY RETAIL/RENTAL COMPANY Largest independent specialty rental /retail operator in Whistler!





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

INVESTMENT OPPORTUNITY

www.westerninvestor.com

Sechelt, Bc

Contact:

1-800-661-6988

Gord Clayton 604-740-6302

Excellent high traffic corner location in busy Campbell River, Vancouver Island, BC. Easy to operate and an EXCELLENT INVESTMENT.

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Situated on prime commercial property in downtown Sechelt, the cozy court Motel is enjoying a renaissance. the current owner has invested heavily and has turned the operation into a financial success story. anticipated gross revenue of $280,000 for the year. invest and run this turn-key operation while you long term plan for the future. Info package avail.

WESTERN INVESTOR

• Ski and snowboard equipment rentals, clothing and accessories retailing • In business for 14 years • Operates nine outlets • Strong reputation for offering a high level of service • Great working environment for its employees • Tremendous network of partners and relationships including; • 400 referral partners, over 100 hotel, tour operator and transport companies Call Allan for an information package.

Allan Jenner 604-905-9589 allanjenner@wrec.com

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

www.realestatewhistler.co or www.allanjenner.com

UNIQUE PROPERTIES FOR SALE IN BRITISH COLUMBIA FAIRMEADE FARM - Langley • 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.

ELKIN CREEK GUEST RANCH - Nemaiah Valley • Historically run as a guest ranch in the beautiful Chilcotin Region of British Columbia, the ranch sits on 620 acres of rolling pastoral lands with an additional 25,000 acres of Crown grazing rights. This guest ranch has the services and amenities of a luxury resort.

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.

ISLAND WEST RESORT - Ucluelet Providing clients with tools and expertise for investment, purchase, sale, lease, development and management of commercial real estate.

Contact a professional to help you get started today:

• Located directly on Ucluelet Harbour on Vancouver Island’s West Coast, 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.

www.vreb.org/CommerCIal

Mark Lester & Alan Johnson S P E C I A L I Z E D A S S E T S G R O U P

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

Vancouver Island A25

WESTERN INVESTOR NOVEMBER 2012 www.westerninvestor.com

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

Judy Gray, CCIM 1.800.600.1718

Mid-island Realty

Suite 103–1801 Bay St, PO Box 195, Ucluelet. BC. V0R 3A0

MULTI-TENANT/MULTI-BAY STRATA INVESTMENT

Pioneer boat works $899,000

• Harbour front fishing & marine supply • Owners living above • Share purchase or asset sale • Stage II enviro

the moorage

#181, #182 & #183 5489 Byrne Road, Burnaby Riverway Business Park *Six Tenants *Three strata lots *Approximately $80,000 triple net income Asking Price: $1,595,000.00

• For sale or lease, plenty of parking • Excellent visual exposure • Several choices, water & mountain views • Suitable for retail, office, café, or…

For Further Information, Please Contact:

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

www.davies-hall.com

www.judygray.com

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

60 uNIt cAre HOMe FAcIlItY In Nanaimo. Full facility, great location. $5.4 MIl.

$359,900 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%.

5 Acres INdustrIAl PrOPertY Includes 2000 sq ft home. Fully fenced, shop. Currently an auto wrecking business. $559,000 FOrclOsure: 3 Acres - OceAN vIeW dev. sIte. Plans for 21 res. units, mortgager will finance.

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 Downtown core. Commercial/condo site. $159,900 2.47 Acre cOuNtrY lOt ZONed FOr 4 HOuses Allows for B&B, dog kennels. 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

INcOMe PrOducING + reveNue PrOPertIes 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

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

sIde BY sIde duPlex $399,500

sellING due tO FAMIlY MAtter 17 Acre Farm with beautifully renovated home, large shop, fantastic location. Must be sold. $525,000

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

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

dAle sHOrtt

Bus: (250)

758-3700 • Toll Free 1-800-665-8313

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

Ocean Pointe

A26 Vancouver Island

www.westerninvestor.com NOVEMBER 2012 WESTERN INVESTOR

sŝĐƚŽƌŝĂ /ŶĚƵƐƚƌŝĂů >ĂŶĚ ĨŽƌ ^ĂůĞ sŝĐƚŽƌŝĂ /ŶĚƵƐƚƌŝĂů >ĂŶĚ ĨŽƌ ^ĂůĞ sŝĐƚŽƌŝĂ /ŶĚƵƐƚƌŝĂů >ĂŶĚ ĨŽƌ ^ĂůĞ sŝĐƚŽƌŝĂ /ŶĚƵƐƚƌŝĂů >ĂŶĚ ĨŽƌ ^ĂůĞ sŝĐƚŽƌŝĂ /ŶĚƵƐƚƌŝĂů >ĂŶĚ ĨŽƌ ^ĂůĞ

Business Is Better On Vancouver Island

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ĐĞůů͗ ϮϱϬ ϳϰϰ ϳϱϳϰ ĞŵĂŝů͗ ŵǀŽůŬΛƐŚĂǁ͘ĐĂ

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.

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

For Sale 2.05 Acre Prime Development Site - North Nanaimo On Old Island Highway adjacent to Long Lake.

$2,595,000

Light Industrial Land and Buildings - Chemainus 3.83 acres with 5 buildings on site.

Light Industrial Zoned Land - Nanaimo 9.6 acres with high exposure to the Island Highway.

253 Acre Development Property - Sproat Lake Area Commercial Building - Duncan 13,300 sq ft building with large parking lot on Island Highway.

$1,995,000

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.

$1,495,000

$1,750,000 $1,700,000 $1,325,000

$ 855,000 $ 849,000 $ 775,000

Industrial Zoned Land and Buildings - South Nanaimo 1.29 acres with 2 buildings on site.

$ 720,000

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.

$ 595,000 $ 549,000 $ 475,000 $ 319,000 $ 319,000 $ 299,000 $ 224,000 $ 199,000 Call for Details

Featured Listings

NEW

ROO

F

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

Inn 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.

SOLD Inn This C-5 zoned Tourist Commercial property includes a 40 room lodge situated on 3.95 acres on ocean front in Tofino.

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 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 AQUACULTURE OPPORTUNITIES 20+ acres beach & deep water lease + upland, West Redonda Island. $449,000 4.79 acre water lot lease & .7 acre beach lease, Cortes Island. $80,000 11.6 acre deep water lease, Cortes Island. $60,000

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

WINTER HARBOUR MARINA & RV This Vancouver Island West Coast marina has it all! 2 oceanfront properties, 20RV sites, large foreshore lease, substantial standing pier and dock, protected moorage, guest lodgings and 2bedroom cabin. $549,000

NUTKA LANDING, NOOTKA SOUND A unique opportunity to create a marine resort in a world-class fishing area. 5-acre water lot lease with a 30-year term and accompanying licenses to construct and operate a commercial resort development. $595,000

www.bcoceanfront.com

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

$ $ $ $ $

119,000 175,000 180,000 149,000 399,000

$ 439,000 $ 495,000 $ 549,000 $1,295,000 $1,500,000 $2,550,000 $2,600,000

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

Tel: 1 800 769 5757

gerry.vanvaals@dtzbarnicke.com

www.dtznanaimo.com

A27

WESTERN INVESTOR NOVEMBER 2012 www.westerninvestor.com

DONE DEALS

From: Second City Partners, Vancouver.

Second City announces the following: Deal: Purchase of office buildings in Florida, Colorado and Arizona and Class A condo building in Brooklyn, New York.

Total price: $102.5 million.

From: Colliers International, Fort

Recently completed a major commercial real estate deal in Western Canada?

Send details for a free report here to: wieditor@biv.com.

From: Allied Properties Real Estate Investment Trust, Toronto. Allied REIT reports the following acquisitions: Deal: 39,440-square-foot Demcor office building and 33,874-square foot Chamber of Commerce building, both historic build- 5.05-acre multi-family site in ings, in Calgary. Price: $27.3 million.

Richmond sold for $36 million.

Photo: NAI Commercial

From: NAI Commercial, Vancouver. NAI agent Rick Lui sold the following: Deal: 5.05-acre development site rezoned for 585-unit multi-family site, Richmond.

Sold to a joint venture of Intracorp and MYIE Homes. Price: $36 million.

89-unit apartment tower, Prince George, sold with 11-building portfolio valued at $25.5 million.

Photo: Allied Properties REIT

From: NAI Commercial, Vancouver. NAI broker Peter Seed sold the following: Deal: Eight-building, 372-suite apartment portfolio in Prince George, Quesnel and Williams Lake, sold to a real estate investment trust. Seed then re-sold 216 of the units to a private group. Combined sale of 588 units. Total price: $25.5 million.

McMurray. Colliers agent Ken Shebib reports the following Fort McMurray transactions: Deal: 4,813-square-foot industrial property, sold to Dynacam Properties. Price: $2.95 million.

Deal: 5,319-square-foot industrial property, sold to Metalcare Inspection Services.

Price: $2.61 million.

Deal: 4,080-square-foot industrial building, sold to an unnamed buyer. Price: $2.04 million.

Deal: 6,000-square-foot industrial building, sold to an unnamed buyer. Price $3 million.

Photo: NAI Commercial

D

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

73,000-square-foot Chamber of Commerce building in Calgary sold as part of two-building, $27.3 million deal.

Vancouver Island Vancouver Island Qualicum Beach Area

November 2012 – Western Investor A done deals / frank / 8 blocks

Wa t e r f r o n t

Photo done deals mf portfolio

Beach House, two suites, walk on beachfront. Commercially zoned, steady cash Photo: NAI Commercial flow. 2173 sq ft, 4 Bdrm, walk on waterfront home located in excellent fly fishing Photo: done deals Calgary CC area. Great for group or family purchase.

CUTLINE = 73,000-square-foot Chamber of Commerce Building in Calgary sold as part of two-building, $27.3 million deal.

Boat access, Large storage building, priPhoto: Allied Properties REIT vate! Other waterfront homes available.

CUTLINE = 89-unit apartment tower, Prince George, sold with 11-building portfolio valued at $25.5 million.

Photo: done deal NAI land

Ian LIndsay & assocIates

CUTLINE = 5.05-acre multi-family site in Richmond sold for $36 million.

1-888-243-1071 • ian@ianlindsay.ca

Photo: NAI Commercial

FIrst reaLty - ParksvILLe

Head = Done Deals www.nanaimoremaxcommercial.com

vaNcouver islaNd commercial Jay Cousins jay@jaycousins.com

Lead – Our readers report on recent commercial real estate sales across Western Canada

1-877-335-4380

www.ianlindsay.ca

Jay cousins realty

of Nanaimo

Frank Johnson frank@remaxofnanaimo.com

www.nanaimoremaxcommercial.com

1-877-423-0984

Deals is our monthly feature highlighting some of the major real estateINVESTMENT transactions completed recently in Western Canada’s OPPORTUNITIES INVESTMENT OPPORTUNITIES FORDone SALE INVESTMENT OPPORTUNITIES

• CENTRAL NANAIMOvibrant – Almost 2 commercial acres of land fronting on the real estate• market.

COMMERCIAL PROPERTY OPPORTUNITY – PORT • 4-PLEX MULTI-FAMILY PROPERTY IN PARKSVILLE Desirable • PROFESSIONAL STRATA BUILDING CENTRAL Millstone River, next to the Pryde Vista golf course, and a new high ALBERNI – 4,080 sq. ft. building with 2 separate units. Good C3 zoning could allow higher commercial or mixed future uses.

NANAIMO – 975 Sq. Ft. with new A/C, 4 offices plus recepquality subdivision on a no thru street. Zoning allows for a single Visual Exposure, Multi-purpose zoning (CMX2) for retail or office Quality tenants in place, exceptional street presence ocean views tion & kitchen/staff area.

Quality professional neighbours & family unit with a suite/carriage FullyCommercial, serviced. $200,000 Vancouver.

From:house.

NAI NAI Seed sold$189,000 the following. use. New metal roof,broker new paint Peter & some updates from upper suites REDUCED $549,000 available immediately. $149,000 one • MULTIFAMILY DEVELOPMENT SITE - approved for 16 Deal: Eight-building, 372-suite apartment portfolio Prince George, and Williams Lake,LANDMARK sold to aINVESTMENT real estate investment • TWO COMMERCIAL STRATA in UNITS Nanaimo’s north end Quesnel – • OLD CITY NANAIMO COMMERCIAL WAREHOUSE/OFFICE • DOWNTOWN LADYSMITH bedroom units. No Development Cost Charges, close to downtown 2,525 total Sq. Ft. in Long Lake 216 Business Park. Blow price at investment COMPLEX 11,497 sq. ft. main level plus 6,600 Sq. Ft. mezzanine, trust.

Seed then sold further three buildings, with units to aoutprivate million.

PROPERTYgroup.

6,000 Sq.Total Ft. overprice: 2 levels,$25.5 full renovations in Nanaimo with some ocean views.

Development permit ina place, just of $200 per Sq. Ft. Main level (no stairs) & complex has high dock & grade level doors, paved & fenced yard, easy access, 2005, new roof in 2011, income shows over 7% CAP rate at vendor financing available or joint venture possibilities. $299,900 visibility on Old Island Highway. Motivated seller says get them corner location. Zoning will allow multi-res, retail, restaurant, ofcurrent occupancy. Quality tenants include upper end retail, – Court Ordered Sale. City 2.8 acre estate, • DEVELOPMENT SITEFrom: gone!

REDUCED $499,000 Second Partners, Vancouver, Second City announces the following acquisitions: fice, but current configuration favours warehouse & related uses MLA office, pilates studio.

REDUCED $669,000 currently zoned R1, single Family Residential. Located in the Rock South of office • 5 ACRES INDUSTRIAL ZONED PROPERTY $899,000 Deal: Purchase of 242,000 building, Florida; 594,000 square-foot complex, 55,000-square-foot medical • MOBILE HOME PARKColorado; – PORT ALBERNI – 24 Pad Park plus City area of Departure Bay. 4 bedroom, 3 bath, 2460 square foot office Nanaimo, 4,800 Sq. Ft. Steel clad building incl. approx. 400 sq. ft.

• GABRIOLA single A family home &building, a duplex. Well maintained, home with a large deck building, that faces south.Arizona; Ideal for small170,000-square lot single foottoClass B office tower, Florida; and Class condo New York.consistent A 320-acre site in ISLAND WATERFRONT LODGE Includes a office.

Close Island Highway, Telus tower on property generates turnkey pub/restaurant in a 1 ½ storey rustic log building. 10,000 family subdivision. $659,000 cash flow generator, new appraisal supports asking price which way of a 30 year lease. Drilled well & septic field yet to Florida is under contract. Total revenue price:by$102,500,000.

Sq. Ft. of rooms & dining/eating area. Large deck takes in the shows approx. 7.5% CAP rate $1,100,000 • DEVELOPMENT SITE – 4.19 acres, zoned R10, located in the be finished $699,000 gorgeous views. Over 4.9 acres of undeveloped land available for Cottle Creek area of Hammond Bay. This site previously had a • PORT ALBERNI MOTEL COMPLEX 14 Room Motel plus 6 • TOFINO COMMERCIAL/RESIDENTIAL BUILDING Located development permit for From 14 single family strataProperties units (including one $1,795,000 further expansion. Info available.

Unitreports RV Park, 2 the level following Managers residence, units fully updated, Allied Real Estate Investment Trust, Toronto.

Allied REIT acquisitions: in downtown core with harbour & ocean views. 2 Commercial duplex site). It has been partially serviced, and all city services are outdoor pool, excellent visibility of highway route to West Coast • LIGHT INDUSTRIAL ZONED COMPLEX – MID ISLAND Deal:39,440-square-foot and 33,874-square foot Chamber of Commerce Building, both historic buildunits office on main building with long term leases & 3 residential suites at the property line. Ocean views from most of the site. Located in anDemcor beaches & resorts, consistent 11% CAP rate $1,195,000 above with month-to-month tenancies. 10 parking stalls on site Excellent revenue opportunity currently generating in excess area of prestigious homes, backing onto a city park.

Within walking ings in Calgary. Price: $27.3 million.

• MOTEL, CAMPGROUND & RV RESORT IN QUALICUM BEACH $1,299,000 of $164,000 annually. Island Highway exposure, easy access, $1,600,000 distance to trails in the popular Linley Valley.

7.1 Acres of prime riverfront property includes 36 motel 6 buildings in total, all on 2.88 acres. Current rental rates with • PARTLY DEVELOPED PROPERTY LADYSMITH with Plans units, 50 RV camp sites, store, office, manager’s suite, 9 cotvacancies filled will show nearly 8% CAP rate. $1,895,000 From NAI Commercial, Vancouver.

NAIlots,agent Rick Luiof sold the following: for single family 4-plex lots & section land currently zoned tages, 2 swimming pools, waterslide, mini-golf & playground. for townhomes.

A lot offrom work hasindustrial been done & some Deal: 5.05-acre development site, rezoned to infrastructure 585-unit multi-family site, and Richmond. to aprice.. joint venture of Healthy profit picture 11% CAP rageSold on asking is already in place. Potential of up to 29 doors $1,600,000 REDUCED $2,985,000 • Children’s Toy & Clothing Consignment Store – Ladysmith $44,900 Intracorp and MYIE Homes. Price: $36 million • RARE OCEANFRONT DEVELOPMENT OPPORTUNITY Mid• RE-DEVELOPMENT OPPORTUNITY Existing Alzheimers/ • Franchise Fitness Business South Nanaimo $49,900 Vancouver Island. Currently used as an RV Park this walk-on dementia care facility w/90 beds plus separate residential home • Used books / consumer services retail – Nanaimo $59,900 beachfront property has 4 legal parcels, full service RV sites, Recently completed a major commercial real estate deal? available for conversion to congregate care or rezone to multi-res$95,000 • Western Wear & Tack Store – Duncan • NORTH NANAIMO WAREHOUSE – Newer 12,106 sqft wareTenting/Camping sites, rental cabin, residence etc. Current zonidential etc. 44,255 Sq. Ft. building on 1.87 acres near Nanaimo • Seasonal Wreath Business – Qualicum $99,000 house on a 1 acre paved Send and fenced yard area. Overhead particulars for aand free report hereRVto ing permits usewieditor@biv.com as well as resort condominium development, hospital. Society owner will remain with one year lease at current $199,000 • Ricky’s All Day Grill – Ladysmith dock height loading. Nicely appointed office and showroom plus hotel, etc. Initial research suggest a re-zone could allow up to a 30 market rents during planning/feasibility phase of redevelopment. an additional 990 sqft of mezzanine area. Excellent North Nanaimo $249,900 • Ricky’s All Day Grill – Courtenay unit single family development. Upper bench of the property has $4,500,000 dramatic views. 100% share sale. $2,995,000 location. For lease @ $9.50 per sqft net. For Sale @ $2.2 million • Panago Pizza Franchise Parksville $384,900

FOR LEASE OR SALE

FRANK JOHNSON

BUSINESSES

JAY COUSINS

JAY COUSINS

JAY COUSINS

A28

www.westerninvestor.com NOVEMBER 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

“THE RULE OF 72 IS A SIMPLE WAY TO KNOW THE LENGTH OF TIME IT TAKES FOR MONEY TO DOUBLE. IS IT TIME FOR A CHECK UP ON YOUR INVESTMENT?, LETS CHAT, COFFEE ON ME.”

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

RETAIL STORES FOR SALE

942 Westwood Street.

Coquitlam. Free standing Retail with residential above. Net Leased Investment at 5% Cap Rate! 3100 sf. Store, 3br & 1br Apartments. $1,929,800 – CLS#V4032462

• 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.

2570 Kingsway Ave. Port Coquitlam – presently a restaurant.

Property only for sale not the business) 748 Sq.Ft. $299,900.00 CLS#V4033045 Call or email David 2568 Kingsway Ave. Port Coquitlam – presently a convenience store Call or email David Property only for sale not the business 821 Sq.Ft. $339,900.00 CLS#V4030247 Call or email David

INDUSTRIAL FOR LEASE

#64 – 1833 Coast Meridian Road Por t Coquitlam. 1500 sf includes showroom, offices and warehouse. Perfect for electrician, plumber, mechanical contractor. $1700.00 / month! CLS# V4031960

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

RE/MAX SABRE REALTY

• Log building Hope BC with restaurant, rental income and more.

Call for details $775,000.

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

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• 53 Room hotel in Prince George. $4 Million.

• 4000 sq ft Light Industrial newer (2007) building in Dawson Creek, BC.

RE/MAX SABRE REALTY GROUP

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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

60 ACRES OF MIXED, FLAT, ROLLING, TREED LAND IN CHILLIWACK.

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









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

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







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

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

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60 ACRES of mixed, flat, rolling, treed land in Chilliwack. Close to Cultus and Harrison lakes, golf courses and 15 minutes from shopping. View of mountains and Fraser Valley with a waterfall view second to none(Elk Falls). Would be a great place to build your dream house or private retreat. $1,200,000 Call Garth Olson for info package 604-533-3491

CALL GARTH OLSON 604-533-3491

realestate@garth-olson.com

RE/MAX

wwwgarth-olson.com 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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

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

 

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



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

       

  