Western Investor March 2011 Section A

Page 1

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

COURT ORDERED SALE – BEST WESTERN INNS & SUITES, TUMBLER RIDGE BC

GARY HAUKELAND 604-683-7535 OR JD MURRAY

s ACRE PARCEL s /#0 SHOWS ,IGHT )NDUSTRIAL s (IGH EXPOSURE CORNER SITE s (OLDING INCOME WITH RES RENTALS GREENHOUSE BUSINESS s Asking $2.59 mil

SELF–STORAGE FACILITY s &OR 3ALE n 6ANCOUVER )SLAND s UNITS ACRES s Asking $2,600,000

967 ACRES

MINI STORAGE ON 1 ACRE PARCEL

LD

s UNIT 3ELF 3TORAGE &ACILITY s 2OOM TO EXPAND BY ACQUIRING ADJACENT ACRE SITE s 0ROFORMA ./) s $1.475 Mil

City to jack costs for development up 200%

7E !2% YOUR 3%,& 34/2!'% %XPERTS

7% +./7 3%,& 34/2!'%

CHRIS LANGHAUG 604-240-6224 NAI COMMERCIAL

WON’T LAST – HOT PRICE s 5NIT 4OWNHOUSE 3ITE s !C 2 - & ZONING s 3ERVICES AT STREET s Asking $749,000

11.4 ACRES DEV. LAND ADJACENT TO WAL-MART s 6ENDOR MAY CARRY s .OW ONLY $3.39 Mil K AC

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

3 LIGHT INDUSTRIAL LOTS

s ACRES EACH Amazing price $59,900 ea.

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

INVESTMENT PROPERTIES FOR SALE LANGLEY AREA LANGLEY - FOR LEASE VACANT EX-SPORTS COMPLEX

s 0RIME LOCATION IN ,ANGLEY s 5P TO SQ FT s #AN BE DEMISED TO LARGER TENANTS s )DEAL FOR SHOWROOM SPORTS CLEAN USES s )MPROVED WITH OFlCES s Basic rate starts at $7.50 sq ft net

INVESTMENT/END USER FREESTANDING BUILDING

s )NDUSTRIAL -ULTI TENANT BUILDING s &REESTANDING WITH WAREHOUSE AND OFlCE s SQ FT TOTAL UNITS s 0RIME #ENTRAL ,ANGLEY ,OCATIONS s $2,100,000

Home builder spokesman Peter Simpson: $22,000 nailed onto every new house reflects a region-wide trend

9 IT STARTS WITH THE DIRT

G IN ND ER PE OFF

ALFRED LEUNG 604-889-6807 FOR LEASE 8,459 SQ. FT. SHOWROOM & W/H s $5.50 s.f. plus $2.50 s.f. T.N. NAI GODDARD & SMITH

$4.29 MARCH 2011 Vol. 26/Issue 3

15 LANGLEY’S COST OF ENTRY

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

s :ONED 2ES )NDUSTRIAL s (UGE 'RAVEL 2ESERVES s MIN TO -ERRITT s Priced at $8.0 Mil ($8,275/acre)

SO

s # ZONING s 2ESIDENTIAL COMM MIX s RES SUITES COMM 5NITS s $2.488 mil

MIXED-USE INVESTMENT s ,ANGLEY #ITY # :ONE s SF LOT SF BUILDING s 2ETAIL /FlCE AND 2ESIDENTIAL s #ITY PLANS FOR DEVELOPMENT s ./) s Asking $799,000

VANCOUVER • LOWER MAINLAND • VANCOUVER ISLAND SECTION

MERRITT, BC OPPORTUNITIES

CAMPBELL HEIGHTS

KITSILANO, VANCOUVER 2864 WEST 4 TH AVENUE

UNDER CONTRACT! SELF-STORAGE FACILITY s UNITS ON ACRES s #OURTENAY "# s #LOSING -ARCH

â–˛

s STOREY UNIT HOTEL s SQ FT CONFERENCE CENTRE s SEAT LICENSED FURNISHED RESTAURANT s # ZONING n 4RAVEL #OMMERCIAL s Price: $7,500,000

INDUSTRIAL LAND – AGASSIZ s ACRES n TITLES #AN BE PURCHASED SEPARATELY s - (EAVY )NDUSTRIAL s ACRES PAVED s Asking $3,299,000

INDUSTRIAL BUSINESS PARK LAND FOR SALE CLOVERDALE, BC s ,IMITED SUPPLY s :ONED )" "USINESS 0ARK s #ORNER LOT WITH GREAT EXPOSURE s 0ACIlC (IGHWAY LOCATION s )DEAL FOR OFlCE WAREHOUSE USES s !CRES s $1,900,000

DON MACDONALD, CCIM OR TODD BOHN 604-534-7974 or 1-800-890-9855 s donmac@naicommercial.ca

Finding land for 1.2m more people in Metro forces rethink on ALR 13 NATIVES FREE LANDS

First Nations strike bigprofit alliances with real estate developers SPECIAL SECTION • B16

HOT PROPERTIES

R E C R E A T I O N A L R E A L E S T A T EE

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

SUPERIOR WASHINGTON WAREHOUSE FOR LEASE! 45,000 sf with 13 docks, ofďŹ ces, lunchroom, IT. Perfect for manufacturing/shipping/ distribution. Less than $4.50 sf NNN. 12 minutes south of Blaine just off I-5.

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

Call Mike at ÂŁÂ‡ĂŽĂˆäÂ‡ĂŽĂˆĂˆÂ‡ĂŽĂŽxÇÊU www.copaccenter.com

A2 Lower Mainland 200,000 SF INDUSTRIAL FACILITY

FOR SALE 37 ROOM MOTEL

M *9DE1D54 ?> 13B5C M H35<<5>D '1; *DB55D B9475 5H@?CEB5 M 1B75 4?3; 1>4 B19< 1335CC M ?3; 1>4 7B145 <?149>7 M N 3<51B 359<9>7C

M #>978DC !>> %?D5< 9> #1=<??@C M $?31D9?> >51B 8978G1I C8?@@9>7 ,>9F5BC9DI M B51;61CD B??= <1B75 ?G>5B C CE9D5 ?> 7B?E>4 L ??B M C;9>7

RANDY SWANT SEAN UNGEMACH

BRETT AURA DON DUNCAN

PERSONAL REAL ESTATE CORP.

RETAIL INVESTMENT OPPORTUNITY - HERITAGE POINT CENTRE

M B1C5B 8978G1I $1>7<5I M 978 5H@?CEB5 B5D19< 35>DB5 M +5>1>395C 9>3<E45 .5>4INC *E2G1I 1>4 E475D B1;5 1>4 %E6L 5B M E9<D 9> ?> 13B5C M C;9>7 31@ B1D5

HUDGE PARMAR PERSONAL REAL ESTATE CORP.

PERSONAL REAL ESTATE CORP.

FOR SALE - SALT SPRING ISLAND RESORT

M 13B5 <1;56B?>D B5C?BD @B?@5BDI ?> *1<D *@B9>7 !C<1>4 M 3?DD175C 1>4 6?E>41D9?>C 6?B 1 <?475 1>4 @??< 2E9<49>7 M (?D5>D91< 6?B 1 D?D1< ?6 3?DD175C

BILL RANDALL / DON DUNCAN CHRIS DRIVER PERSONAL REAL ESTATE CORP.

www.westerninvestor.com MARCH 2011 WESTERN INVESTOR

FOR SALE

M .5CD B4 F5>E5 -1>3?EF5B M C6 ?6K 35 2E9<49>7 M 0?>9>7 M -131>D @?CC5CC9?> M C;9>7

DAVID POTTINGER

DEVELOPMENT OPPORTUNITY

M .1<5 )?14 ?<G??4 M C6 C9D5 C9J5 M )+ 0?>9>7 M C;9>7

MARK GALLAGHER LEAH COLLINGS

BRETT AURA

HIGHWAY EXPOSURE

M +B9@<5 D5>1>D (B9>35 5?B75 M -5BI =?45B> 9>4ECDB91< 6139<9DI M EBB5>D 9>3?=5 M C;9>7 @B935

239 - 241 E. 1ST AVE

M &?BD8 -1>3?EF5B M C6 2E9<49>7 M (B?:53D54 9>3?=5 M (EB381C5 @B935

FOR SALE - $1,065,000

M &? )?14 )938=?>4 M 13B5C 5H35<<5>D <?31D9?> C6 8?=5 M 7B93E<DEB1< <1>4

PERSONAL REAL ESTATE CORP.

BRAD NEWMAN-BENNETT/ DAVID POTTINGER

RON EMERSON

FOR SALE: BRAND NEW STRATA BUILDING

94,040 SF INDUSTRIAL BUILDINGS ON 10.28 ACRES

FOR SALE - 15 LEGAL SUITE S. GRANVILLE APARTMENT

BILL RANDALL

M &?BD8 B1C5B .1I M C6 M E9<D 2I +85 55495 B?E@ M !451< 6?B ?G>5B EC5B 9>F5CD?BC M ?3; 7B145 <?149>7 359<9>7C

*SEAN UNGEMACH MICHAEL THOMPSON

M $?31D54 9> (B9>35 5?B75 M ?33E@954 M .5<< 25<?G B5@<135=5>D 3?CD M C;9>7 @B935

BILL RANDALL

M 'EDCD1>49>7 *?ED8 B1>F9<<5 <?31D9?> M *D5@C D? B1>F9<<5 *DB55D C8?@@9>7 M -5BI G5<< =19>D19>54 G9D8 B535>D B5>?F1D9?>C M C;9>7 (B935

M .5CD #5<?G>1 5F5<?@=5>D *9D5 M ) * G9D8 CE249F9C9?> @<1> 6?B 5CD1D5 <?DC M *=9D8 B55; 25DG55> <5>B?C1 1>4 *81>>?> $1;5 M C;9>7

CHRIS J. NEWTON MATTHEW MACLEAN

FOR SALE - LIGHT INDUSTRIAL WAREHOUSE

M -93;5BC .1I )938=?>4 M +G? <571< D9D<5C 13B5C M C6 =1>E613DEB9>7 6139<9DI M EBB5>D<I <51C54 E>D9< 52 M 1> 25 =145 1F19<12<5 ?> 1 F131>D 21C9C

PERSONAL REAL ESTATE CORP.

ERIC WALKER

FOR SALE-3 FULLY LEASED INDUSTRIAL BUILDING PORTFOLIO

FOR SALE - HIGH EXPOSURE CLOVERDALE PROPERTY

M H35<<5>D 9>F5CD=5>D B5DEB>C M *DB?>7 D5>1>D 3?F5>1>D M *D12<5 31C8 L ?G M 1B5 6B55 <?>7 D5B= >5D <51C5C M C;9>7

M H35<<5>D 5H@?CEB5 1>4 1335CC D? 978G1I M C6 ?6 2E9<49>7C M 978G1I ?==5B391< !>4ECDB91< J?>54 M C;9>7

BART VANSTAALDUINEN

DAVID CANNING BILL RANDALL

PERSONAL REAL ESTATE CORP.

PERSONAL REAL ESTATE CORP.

TRIPLE AAA TENANTS INVESTMENT OPPORTUNITY

PEMBERTON MULTIFAMILY SITES

M 1>; ?6 &?F1 *3?D91 1>4 1>141 (?CD M C9>7<5 CD?B5I 2E9<49>7C <1B75 <5F5< <?D M (5=25BD?> M C;9>7

M .5<< <?31D54 @B?@5BD95C M ,@ D? 13B5C 1F19<12<5 M (<1> 1<<?GC E>9DC 1>4 C6 ?6 3?==5B391< M C;9>7

BILL RANDALL

LEE HESTER

DAG MEYER

PERSONAL REAL ESTATE CORP.

COURT ORDERED SALE

GROCERY ANCHORED SHOPPING CENTRE

FOR SALE - WEST END MULTIFAMILY

PERSONAL REAL ESTATE CORP.

M .??4 $1;5 5F5<?@=5>D *9D5 M 9CDB93D ?6 $1;5 ?E>DBI M 13B5C @<EC 13B5 .1D5B $?D $51C5 M C;9>7

M B1C5B 978G1I *EBB5I M 13B5C ?> B1C5B 978G1I M C6 C8?@@9>7 35>DB5 M @C6 M

M +8EB<?G *DB55D M @B?@5BD95C 1 6?EB@<5H 1>4 1 K F5@<5H M H35<<5>D <?31D9?> ?> +8EB<?G (139K 3 M (?D5>D91< D? B5>?F1D5 ?B 45F5<?@ M ?=29>54 1C;9>7 @B935

BRETT AURA DON DUNCAN / CHRIS DRIVER

*CRAIG HAZIZA

HUDGE PARMAR

ADAM FRIZZELL

PERSONAL REAL ESTATE CORP.

RETAIL INVESTMENT OPPORTUNITY

FOR SALE - 2.7 ACRES OF INDUSTRIAL LAND

SENIORS HOUSING OPPORTUNITY

DEVELOPMENT OPPORTUNITY

7.1 % RETURN

MARK GALLAGHER

LOT 6, SMITH CREEK ROAD, WEST KELOWNA

BILL RANDALL

M ,>45B M *DB?>7 3?F5>1>DC M (B9=5 <?31D9?>C M 1CI D? =1>175

MARK GALLAGHER

BRETT AURA

MARK GALLAGHER

DAVID POTTINGER DAVID CANNING

M (B9>35 5?B75 M C6 ?> 13B5C M $51C54 E>D9< "E<I M *DB?>7 3?F5>1>D M C;9>7

FOR SALE BC RETAIL PORTFOLIO

PERSONAL REAL ESTATE CORP.

PERSONAL REAL ESTATE CORP.

M (9>>13<5C )?14 -5B>?> M ± 13B5C M (<1>C 9> @<135 6?B E>9DC M $?31D54 1D *9<F5B *D1B %?E>D19> )5C?BD M C;9>7

M D8 F5 -1>3?EF5B M 0?>9>7 M E9<49>7 1B51 C6 M $?D C9J5 M (EB381C5 @B935

FOR SALE - INVESTMENT

DON DUNCAN / CHRIS DRIVER /

PERSONAL REAL ESTATE CORP.

M (9?>55B -9<<1 B5CD?> M -131>D C5>9?BC 8?EC9>7 6139<9DI M E9<49>7 C9J5 1@@B?H C6 M 13B5C M C;9>7

FOR SALE

M &1>19=? D8<5D93 <E2 M 13B55C M 5<?G =1B;5D B5>D M &'! 1>>E1<<I M C;9>7

ERIC WALKER

PERSONAL REAL ESTATE CORP.

HIGH VISIBILITY INVESTMENT OPPORTUNITY

M E<< 39DI 2<?3; (B9>35 5?B75 M C6 ?> 13B5C M +G? D5>1>DC M &5D 9>3?=5 ?6 ?F5B @5B I51B M C;9>7

M *=9D85BC %1<< *=9D85BC M >38?B54 2I 05<<5BC 1>4 *3?D9121>; M C6 >5D B5>D12<5 1B51 M $1>4 C9J5 13B5C M C;9>7 31@ B1D5

RICK EASTMAN

M $?31D54 3<?C5 D? ./ ./ M 0?>54 ! 1>4 *5BF9354 M $?31D54 9> 22?DC6?B4

M C;9>7

WILLIAM N. HOBBS

PERSONAL REAL ESTATE CORP.

BILL RANDALL

HUDGE PARMAR

PERSONAL REAL ESTATE CORP.

PERSONAL REAL ESTATE CORP.

RETAIL SHOPPING CENTRE INVESTMENT OPPORTUNITY

M 1B92?? %1<< %9<5 ?EC5 M *9>7<5 <5F5< 5>3<?C54 3?==E>9DI =1<< C6 >5D B5>D12<5 1B51 M %1:?B D5>1>DC 9>3<E45 %' (81B=1C1F5 +BE -1<E5 1B4G1B5 M $1>4 1B51 13B5C M C;9>7 31@ B1D5

INVESTMENT PROPERTY & BUSINESS OPPORTUNITY

M B9D5G1C8 1BG1C89>7 *ICD5=C !>3

M 13B5C 1D 1CD9>7C EB>12I M EDEB5 45F5<?@=5>D @?D5>D91< M J?>9>7 M C;9>7

*SEAN UNGEMACH KYLE WILSON

HUDGE PARMAR

Moving with confidence

JAMESON HOUSE OFFICES

M '6K 35 9>F5CD=5>D ?@@?BDE>9DI M *DB1D1 ?6K 35 L ??BC 6?B C1<5 M 'G> 9> D85 851BD ?6 D85 M F19<12<5 %1I

JENNIFER ROBERTSON

SILVER CHALICE PUB HOPE, BC

M *9<F5BF95G )?14 M (E2 1>4 55B .9>5 *D?B5 M %1>I K HDEB5C 381DD5<C 9>3<E454 M C6 2E9<49>7 ?> 13B5 M

BILL RANDALL

RARE FREESTANDING 5 UNIT INDUSTRIAL BUILDING

M +E@@5B F5>E5 ?AE9D<1= M C6 ?> 13B5 M 'G>5B EC5B ?@@?BDE>9DI G9D8 9>3?=5 M &5G B??6 M H35<<5>D <?31D9?> >51B 978G1I !;51 ! M *1<5 @B935

RICK EASTMAN

PERSONAL REAL ESTATE CORP.

PERSONAL REAL ESTATE CORP.

TWO FULLY LEASED COMMERCIAL BUILDINGS ON 1 ACRE OF LAND

M $?31D54 ?> D85 1B>5D 978G1I 9> ?AE9D<1= M ?6 9> @<135 >5D 9>3?=5 M * J?>54

CRAIG BALLANTYNE

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

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

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

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

41&$*"- 4&$5*0/ Â… #

FEATURES 15 0/ 5)& $07&3 -BOHMFZ $JUZ EFFQFOT UIF NPBU

On the cover Peter Simpson, president and CEO of the Greater Vancouver Home Builders’ Association: fears rising DCCs on homes. Photo: Richard Lam

HOT PROPERTIES 3&$3&"5*0/"- 3&"- &45"5&

Development cost charges to double in popular suburb

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

Download a PDF of all our Regional Roundups online at www.westerninvestor.com

9

-BOE JTTVF 8IFSF UP IPVTF NJMMJPO NPSF

Metro land use plan sparks debate about future of farms

13 'JSTU /BUJPOT GSFF MBOE GPS EFWFMPQNFOU

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

8 4&37*$&4 21 4&" 50 4,: 46/4)*/& $0"45 3&(*0/

Reserves seen as relief valve as land pressures heat up

19 4VSSFZ IBT MPXFTU PGGJDF WBDBODZ JO SFHJPO

2–20 -08&3 ."*/-"/% 3&"- &45"5&

21–27 7"/$067&3 *4-"/% 3&"- &45"5&

But neighbouring suburbs face glut of space, falling prices

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

.03& 0110356/*5*&4 ™

COLUMNS

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

6 8&45&3/ 1&341&$5*7& 27 %0/& %&"-4 8)0 40-% 8)"5 '03 8)"5

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

READY TO BUILD

131 UNIT APARTMENT SITE

The site is vacant and consists of a tract of land of 4.52 acres, is level and at street level. The site is fully serviced with utilities. Access to the multi-family site will be a privately maintained boulevard. City street has been recently upgraded. Has an appraisal on 6/13/08 for $3,930,000. Asking price today at $550,000.

RON BENNETT COMMERCIAL REAL ESTATE Ron Bennett

SUTTON GROUP WEST COAST REALTY

CALL

(USN Ret.)

/ Owner - Broker

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

fax 604-888-3261 Don Munro 604-817-7338 botsold@intergate.ca

COMMERCIAL / INDUSTRIAL CHILLIWACK FOR LEASE 44580 Yale Road West s SQ FT BUILDING s !CRES s SQ FT FENCED COMPOUND ZONED - 3ERVICE )NDUSTRIAL

LANGLEY 203-20771 Langley Bypass s SQ FT COM MERCIAL STRATA s &ULLY LEASED s %XCELLENT )NCOME 0ROPERTY

ACREAGES

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

LANGLEY LANGLEY 48th Avenue & 216th St 27691 Downes Road s !CRES PARCELS s !CRES s "DRM (OME W LOFT LANGLEY s ,ARGE 3HOP AND "ARn 27449 60th Avenue s !CRE 0ARCEL s ,ARGE #OUNTRY (OME WITH (ELPER 3UITE s 0OSSIBLE &UTURE 0OTENTIAL s %ASY !CCESS TO 4RANS#ANADA (IGHWAY

MAPLE RIDGE 21163 Lougheed Highway LANGLEY s !CRES s !CRE 0ARCELS 27031 Fraser Highway s (IGHWAY FRONTAGE s SQ FT LOT 2IVER FRONTAGE LANGLEY s :ONED # #OMMERCIAL s $ESIGNATED ), ,IGHT 27571 60th Avenue )NDUSTRIAL s !CRES CHILLIWACK SURREY s (OUSE AND -ODULAR 45860 Cheam Avenue AGASSIZ & 9070 Birch Street (OME 11151 Bolivar Street & 6958 Pioneer Avenue s 0ROPERTIES TOTAL !C s SQ FT &ULLY LANGLEY s SQ FT #OMMERCIAL 13340 112 Avenue ,EASED #OMMERCIAL "LDG /FlCE "UILDING s !CRES ON CORNER s !CRE 0ARCEL 24421 Fraser Highway s /FlCE /RIENTED ,EASE s :ONED #( (IGHWAY s :ONED #4 4OWN s !CRES 3PACES WITH s 0OSSIBLE &UTURE 0OTENTIAL /N 3ITE 0ARKING #ENTRE #OMMERCIAL #OMMERCIAL CHILLIWACK 7730 Old Orchard Road s !CRES s 4RANS#ANADA (WY %XPOSURE s 0OTENTIAL - - )NDUSTRIAL ZONING

✓ VALUE FOR $

✓ GOOD RETURN

✓ TENANT COVENANT

LANGLEY 889 Lefeuvre Road s !CRES s ,ARGE -USHROOM &ARM s 3HOP #OMPOSTING &ACILITY s 'ROWING "ARN s -ULTI 5SE "UILDING LANGLEY 20552 24th Avenue s !CRES s "EDROOM 3TOREY (OME s -OBILE s 0ADDOCKS STALL BARN RIDING RING

✓ UPSIDE

SURREY 188th Street & 80th Ave s Acres s &UTURE 0OTENTIAL

CHILLIWACK 51140 Ruddock Road s !CRES s 0OTENTIAL FOR ,OTS

CHILLWACK 700 Columbia Valley Road s !CRES s 0RIME &ARM ,AND

✓ CAREFREE

A4 Lower Mainland

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

13*7"5& */7&4503 -00,*/( '03 "1"35.&/5 #6*-%*/(4 4FSJPVT BOE DBO BDU RVJDLMZ 8JMM QBZ NBSLFU WBMVF 7BODPVWFS -PXFS .BJOMBOE

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$POUBDU .BSL Â… QBMNBS!UFMVT OFU

2%452. 5,,9 2%./6!4%$ /6%2 -),,)/. 30%.4 /. )-02/6%-%.43

817 .. $=.?. *6.

FOR SALE 81,260 sq.ft. R&D

BUILDING AT UBC 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, ofďŹ ces, teaching, training, and conference facilities, in support of research and development in a number of key areas.

Call LARRY 604-787-7654

868A $=;..=

FOR SALE

PRIME WESTSIDE INVESTMENT OPPORTUNITY 2094 West 43rd Avenue The property is located on the ground  oor of the Southeast corner of West 43rd Avenue and East Boulevard in Kerrisdale, one of Vancouver’s oldest and most af uent neighbourhoods. 4,997 square feet in 5 separate strata lots sold together. Great 5 year lease in place, Aprox. 4.13 cap Call SANDI FRATINO 778-999-0005 OR REID DEWSON 604-732-9944

This custom built kitchen offers about 3,000 sq ft. There is a small retail cafÊ of 400 sq ft plus a 1,600 ft 2nd  r. This turnkey operation will appeal to chefs, caterers, schools and restaurateurs.

Call LARRY 604-787-7654

'*7,8>?.;

$=.?. *6. 817 ..

<:>26*5= #8* '2,=8;2*

34/2%9 7//$&2!-% %34 .$ !0!24-%.4 "5),$).' 7)4( "%!54)&5, 50'2!$%3

Asking $3,388,000

CATERING BUSINESS & COMMISSARY KITCHEN The building may be leased or purchased

*<= ".7-.; $=;..= '*7,8>?.;

)8%$ 53% 2%3)$%.4)!, #/--%2#)!, !0!24-%.4 "5),$).' !4

817 .. $=.?. *6.

%

' !" % !""!#%& % $

8>7-*;B #8*-

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817 .. $=.?. *6.

*7- 87 &99.; $>6*< 8>7=*27 ++8=</8;-

FOR SALE 4316 FRASER 3900 sq ft building Lots of opportunity

$1,225,000 Call SANDI

)8%$ 53% $%6%,/0-%.4 3)4% 522%.4,9 )-02/6%$ 7)4( 2//- -/4%,

*732= 5*2;. .8;0. , *,1;2.

*69+.55 .201=< 8;=1 $>;;.B ><27.<< "*;4

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Dexter Associates Realty Commercial Real Estate, Your Trusted Advisors

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

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

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• FEATURE: Port Moody apartment building, complete rebuild, as new with plumbing, wiring, roof, ooring, cabinets, 32 huge suites (22 x 2bed, 6 x 1bed and 3 x 3bed) $360,000 net, price $6,550,000. • Squamish Hotel: 25 rooms + guest suite, pub, night club, cafÊ & retail. Upgraded. Makes money! $2,588,000 + terms with $550,000 down! • Island, Waterfront Hotel and Marina. Quality in a great Location. • Nanaimo, Waterfront Hotel, marina plus condo Site, $6,000,000. • Richmond, Site: Condo development + hotel turnkey. $8,000,000. • Vancouver, Site: Great Sky-train location. $26,000,000/terms. • Squamish, condo Sites: 31 units, downtown. $1,500,000 with terms and/ or possible joint venture available. Permit ready and fees paid. • North Vancouver, Apartment buildings: Central Lonsdale area. 20 Suites, $3,650,000 - 11 huge suites (2 & 3 bedroom) $2,250,000. • North Vancouver, Residential Holding Properties: sites (4) leased, for rezoning next to proposed high density, high rise redevelopments with a new Community Center and Retail Village/Town Center.

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Lower Mainland A5

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

APARTMENT BUILDING SPECIALIST BURNABY

SOUTH GRANVILLE

MARPOLE

31 Units – Metrotown Well maintained 5% Cap Rate

10 – 1 Bedroom units Character Building Gross Income $104,247

8 Units – Some TLC Near all amenities Gross Income $68,072

WEST END

CLOVERDALE

NEW WESTMINSTER

51 Units – Prime location Near beach, shopping, amenities Gross Income $637,158

36 Units – Central location Tenant base is seniors 5.35% Cap Rate

17 units – Quiet area 2 Penthouses with view Gross Income $146,271

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

604.263.2823

RETAIL INVESTMENT

STRATA OFFICE SALE/LEASE

INDUSTRIAL SALE

5550 Fraser Street, Vancouver SQ FT s 0RIME EXPOSURE LOCATION 6AST WINDOWS s 3ECURED ALARM SYSTEM /N SITE AND OFF SITE PARKING AVAILABLE

1777-1799 Kingsway, Vancouver Three ground floor retail units 3,005 sq ft (IGH EXPosure corner location &ULLY LEASED s /VER RETURN

3410 Lougheed Highway, Vancouver n SQ FT s 2EDUCED LEASE RATE New concrete office development Adjacent to Rupert SkyTrain station

1955 East Hastings Street, Vancouver 0RIME OWNER OCCUPIER OPPORTUNITY 8,134 sq ft office/showroom/warehouse 0RIVATE PARKING s $OCK LOADING

Clare Stevens

Conor Finucane

Don Mussenden, Anthony Lux

Ryan Saunders, Mitch Ellis

FOR SALE/LEASE

INDUSTRIAL SALE/LEASE

INDUSTRIAL SALE

INDUSTRIAL SALE

1683 East Pender Street, Vancouver -IXED USE OPPORTUNITY SQ FT WAREHOUSE s -# ZONING Dock and grade loading

6010 Trapp Road, Burnaby 61,995 sq ft on 4.4 acres (EAVY MANUFACTURING FACILITY s 0OTENTIAL PARTIAL VENDOR LEASE BACK s 2EDEVELOPMENT OPPORTUNITY

117 - 42 Fawcett Road, Coquitlam 2,770 sq ft office/warehouse CLEAR CEILING HEIGHT s 'LAZED OFFICE FRONTS /NE X DRIVE IN LOADING DOOR

125 Glacier Street, Coquitlam 2 units totalling 31,115 sq ft on 1.34 acres Owner/user opportunity with potential MORTGAGE HELPER s CLEAR CEILING HEIGHT

Don Mussenden

Steve Caldwell, Chris McIntyre

Steve Caldwell

Chris McIntyre, Steve Caldwell

INDUSTRIAL/OFFICE SALE/LEASE

INDUSTRIAL SALE

INDUSTRIAL LEASE

INDUSTRIAL SALE

375 Lynn Avenue, North Vancouver 3,600–11,000 sq ft STRATA units available .EW 2IVERFRONT BUILDING s CEILINGS PHASE POWER s (IGHWAY PROXIMITY

Unit 5 - 3009 Murray Street, Port Coquitlam 2,088 sq ft strata warehouse unit High quality office finishings Grade level loading

7280 River Road, Richmond 37,440 sq ft manufacturing/warehouse/office (EAVY ELECTRICAL s !MPLE PARKING $4.75 per sq ft

2511 Vauxhall Place, Richmond Rare freestanding building in North Richmond 6,875 sq ft of ground floor space on 0.326 acres 'RADE LEVEL LOADING s WAREHOUSE CEILING

Rand Thomson

Steve Caldwell

Mark Elworthy, Casey Bell

Casey Bell, Anthony Lux

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RETAIL LEASE

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For more information and other available listings please contact our ofďŹ ce or visit our new website Tel: (604) 684 7117

Sign up for e-mail newsletters at www.dtzvancouver.com

Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent veriďŹ cation. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 03/2011.

A6 Lower Mainland

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

$PNNFSDJBM MBOE $BTI DPX GPS HPWFSONFOU n this, our annual land issue, Western Investor had a chance to take a close look at how land is being developed across Western Canada, and the results were a bit surprising. We were struck by how much of the land is controlled by governments, and the level at which the same governments are taxing it. For instance, most of the industrial land in Saskatoon is owned, and doled out, by the city. In the past year, the value of an industrial acre has increased about 20 per cent, to close to $400,000. In Fort McMurray, all of the land that has potential for development is owned by the Crown, with the City of Fort McMurray acting as middleman between the province and developers. And land prices are soaring. In the Fraser Valley, some municipalities are raising development cost charges by as much as 200 per cent on everything from detached houses to industrial buildings. Consider this: a new 10,000-square-foot warehouse could face $40,000 in development cost charges. In fact, all across Canada, municipalities are treating commercial real estate as a cash

*

cow, according to a study by international tax advisory firm Taxand. The study found that 53 per cent of total income from commercial rents in Canada is taxed. The United States, the next highest country on the list, taxes its commercial property rents at 41 per cent, about twice the global average. Many countries lowered taxes last year in an attempt to firm up commercial real estate markets. Overall, global taxes on commercial real estate decreased 0.75 per cent from last year’s survey, which did not include Canada. “The alarmingly high total tax rate in Canada is largely the combined result of high levels of both income tax, which stands at a rate of 30 per cent, and real estate tax at 3.6 per cent,� the study concluded. A separate study from Canada Mortgage and Housing Corp. shows that residential development is also taxed heavily. That study found that the average new house in Metro Vancouver includes from 12 per cent to 19 per cent in taxes, fees and other levies – and this study was done before B.C.’s harmonized sales tax came into effect. Government-imposed costs on residential real estate can be explained away, perhaps, because homeowners receive many

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municipal services. But it is a different story with commercial development. Business owners and tenants – who must eventually pay the increased taxation on commercial real estate – don’t reap nearly the same benefits as homeowners. What was truly surprising in our research, however, is how resilient the commercial real estate market is. In nearly every area we looked out, more commercial development was being planned, and it looks like 2011 will be a banner year for the industry. It makes one wonder how strong Western Canada’s commercial – and residential – real estate market could be if taxes, fees and charges on developers were closer to global standards.

/&95 .0/5)

Western Investor celebrates the small-business and franchise sector with special reports and small-business profiles. We also check in on how venture financing and retail leases are affecting small business. Our regional reporters file from Edmonton, Estevan, Richmond and Winnipeg.

Publisher Cheryl Carter Editor Frank O’Brien Contributing Writers Susan M. Boyce, Dave Husdal, Geoff Kirbyson, Glen Korstrom,Joel McKay, Peter Mitham, Kevan O’Brien Copy Editor Noa Glouberman Production Manager Rob Benac Production Natalie Reynolds, David Tong, Tanya Van Advertising Sales Manager Christine Campbell Advertising Sales Paul Douglas, Gary Takahashi Office Assistant Angela Foster Accounts Receivable Yvonne Posch Circulation Vera 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 1G2Subscriptions and Advertising Sales Tel: 604-669-8500 Fax: 604-669-2154 Canada/U.S. toll-free: 1-800-661-6988 Alberta, Saskatchewan & Manitoba Advertising Sales toll-free: 1-888606-6267. Canadian publications mail product sales agreement #40069240, GST #105655567. Copyright 2002. While every effort is made to ensure the accuracy of articles and advertising that appear in each edition of Western Investor, the publisher may not be held responsible for any errors or omissions that may from time to time occur. No part of this publication may be quoted or reprinted in any medium without the express written permission of BIV Media Limited Partnership.

FRANK O’BRIEN EDITOR wieditor@biv.com

ADVERTISING DEADLINE April 2011 issue: March 14, 2010

8HITE 3OCK RENTAL APARTMENT BUILDING $1,350,000 UĂŠ£äĂŠĂ•Â˜ÂˆĂŒĂƒ]ʙʇʣÊLi`Ă€ÂœÂœÂ“]ʣʇÊL>VÂ…iÂ?ÂœĂ€ UĂŠĂŽĂŠĂƒĂŒÂœĂ€iĂž]ĂŠĂœ>Â?ÂŽĂ•ÂŤĂŠUĂŠ Ă?ViÂ?Â?iÂ˜ĂŒĂŠVœ˜`ÂˆĂŒÂˆÂœÂ˜ĂŠUĂŠ7>Â?ÂŽĂŠĂŒÂœĂŠĂƒÂ…ÂœÂŤÂŤÂˆÂ˜} UĂŠfÂŁĂŽx]äääĂŠÂŤiĂ€ĂŠĂ•Â˜ÂˆĂŒĂŠUĂŠ{°nxÂŻĂŠV>ÂŤĂŠĂ€>ĂŒi

Call Greg LongĂŠÂœĂ€ĂŠBruce Robinson

INVESTOR ALERT! Fully Leased 6 yr old 12,566 sqft Industrial Building in Excellent location on 31279 sqft Corner Lot Excellent tenants, room to expand with 2nd oor in existing building, storage yard in the back. Asking $2.1 million DON'T MISS THIS, GREAT PRICE.

604-531-1909 ĂœĂœĂœ°Â…Ă•}…“VŽˆ˜˜œ˜°VÂœÂ“ĂŠ “>ˆÂ?\ĂŠ}Ă€i}Â?œ˜}JÂ…Ă•}…“VŽˆ˜˜œ˜°Vœ“

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ROARON CONSTRUCTION “Your One Stop Shop� s SUBDIVISION CONSTRUCTION s BUILDING ENVELOPE s CONCRETE ASPHALT SEALING s STRUCTURAL REPAIR s ROOlNG WATERPROOlNG s PARKING LOTS PARKADES Call Now

604-888-7818 or Email roger@roaron.com www.roaron.com

Unique & Sound Investment 8-9% NET RETURN Marriott Pinnacle Hotel

Townhome Development Site Morgan Creek Heights

Gorgeous hotel units, “strata� not time share. In one of the top hotels in the city. Located in the best and priciest city location of Coal Harbour, with water and mountain views, steps to new 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. $218K.

Excellent location King George & 24th Ave. Build townhomes or hold for future development with neighbours. Good spacious rental home plus large garage shop and sheds on property now. Asking $1,550,000

Tony Alves 604 889-7008 Sutton Centre Realty

160 Restaurant, approx 4 yrs old—Going Concern in busy Shopping Center with Safeway, Liquor store, Blockbuster, HSBC, Envision Bank,,, This Restaurant is gorgeous, 5605 leasable area Includes all chattels, over 800,000 in tenant improvements, if you are looking for a restaurant this has EXCELLENT VALUE.. Good client base, assets sale only, you would never be able to build this restaurant for anywhere near this price, PRICE TO SELL $298,000 Laundry Mat - FIRST TIME ON THE MARKET, in same location for 15 yrs with same owner for 15 yrs, this is in busy shopping center, 19 washers,15 dryers, this Cash business makes money, all machines are in excellent condition and owner is willing to train. PROFITABLE BUSINESS THAT MAKES SENSE, Price is very reasonable at $239,000. 6 plex ---in Chilliwack on Sardis side, Location is key, fully rented. 2 bedroom units with gas ďŹ replaces, lot is .26 acre Roof is in good condition. Great holding property, $789,000. GREAT LOCATION !

NEED SHOP / THIS IS IT ----M1 Zoned approx 4400 sqft building on 8000 sq ft lot on Alexander St in Chilliwack. Retail unit of approx 1150 sq ft with Shop of approx 2000 sqft. Also includes an apartment upstairs, THIS IS A GREAT PROPERTY FOR MECHANIC OR SOMEONE WHO NEEDS SHOP WITH RETAIL SPACE, VERY CLOSE TO MCDONALDS. $699,000

LINDSEY GAUTHIER phone: (1) 604 798 2977 CHILLIWACK

email: LGAUTHIER @SUTTON.COM

Lower Mainland A7

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

Vancouver Office 604 687 7331 s

s

For more information visit our website

www.avisonyoung.com

FEATURED LISTINGFEATURED LISTING FOR SALE – 1881 Sumas Way, Abbotsford

s (OTEL 2ETAIL PROPERTY s ./) OF s 3ITUATED IN !BBOTSFORD HOSPITALITY CORRIDOR AND RETAIL NODE s

.BSL )BOOBI 3PC (SFFS .JDIBFM ,FFOBO FOR SALE/LEASE – 1455-1475 East Georgia Street, Vancouver s SF OF /Fl CE 7AREHOUSE AVAILABLE s ) ,IGHT )NDUSTRIAL :ONING s $OCK 'RADE LOADING s QTG +PIO -FDLZ 4USVBO 4BEEMFS FOR LEASE 23200 Gilley Road–Bridgeview Shopping Centre, Richmond s !NCHORED BY 0RICE3MART &OODS s 5NITS AVAILABLE RANGING FROM n SF s 3TAND ALONE PAD WITH DRIVE THRU OPPORTUNITY s SURFACE PARKING STALLS "OESFB (WP[EBOPWJDI +BNFT 4IBOESP FOR LEASE – 320 Terminal Avenue, Vancouver

FOR SALE – Royal Towers, 140 - 6th Street, New Westminster s UNIT APT BUILDING W GROUND m OOR RETAIL s 0OTENTIAL TO ADD SQ FT OF ADDITIONAL DENSITY s 0ROMINENT CORNER LOCATION SPECTACULAR VIEWS s /VER MILLION SPENT IN COMPLETE RENOVATION s !NNUAL .ET )NCOME s 1SJDF 3PC (SFFS .JDIBFM ,FFOBO #BM "UXBM FOR SALE – Dalton Hotel - 759 Yates Street, Victoria s 0RIME CORNER LOCATION AT "LANSHARD 9ATES CE ED s 3IGNIl CANT INCOME FROM RETAIL COMPONENT I C PRDU s /PPORTUNITY TO ALSO ACQUIRE ON SITE LIQUOR STORE RE AND RESTAURANT BUSINESSES #BM "UXBM .JDIBFM ,FFOBO FOR SALE - 2342 Windsor Street, Abbotsford s %XCELLENT USER INVESTMENT OPPORTUNITY s SF SPACE AVAILABLE WITH YARD % s .EWLY LANDSCAPED AND RENOVATED 0 4 s .JDIBFM 'BSSFMM +PIO &BLJO FOR SALE – 9771 186 Street, Surrey E AS E L

s ACRES IN PRIME 0ORT +ELLS LOCATION s ,IGHT )NDUSTRIAL ZONING s /UTSIDE STORAGE PERMITTED s BDSF

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s SF BUILD TO SUIT OFl CE RETAIL BUILDING INDIVIDUAL m OORS AVAILABLE s 2EADY FOR OCCUPANCY LATE s !DJACENT TO -AIN 3TREET n 3CIENCE 7ORLD 3KYTRAIN 3TATION s #OMPETITIVE LEASE RATES TENANT INDUCEMENT PACKAGES OFFERED

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FOR SALE "My Garage" Secure Strata Storage, SE Richmond s #USTOMIZED %XECUTIVE STORAGE FOR COLLECTOR CARS MOTORCYCLES 26S s 0RIDE OF OWNERSHIP n LIKE MINDED OWNERS s SF n SF OPTIONS AVAILABLE 3PCFSU + (SJUUFO .JDIBFM "MMFO

FOR SALE – 12294 104th Avenue, Surrey s )NDUSTRIAL INVESTMENT WITH UPSIDE n GREAT CASH m OW s %XCESS LAND FOR ADDITIONAL BUILDINGS s SF ON ACRES s .JDIBFM 'BSSFMM +PIO &BLJO

SOLD 1595 East Pender Street, Vancouver SO

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FOR SALE 105 Brunswick St. & 110 Victoria St., Prince George

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FOR SALE - Forest Hill Plaza - 8318-120th Street, Surrey s SF 2ETAIL /Fl CE PLAZA s (UGE UPSIDE IN RENTAL INCOME s %XCELLENT EXPOSURE ALONG A MAJOR COMMERCIAL CORRIDOR s FEET OF FRONTAGE ALONG 3COTT 2OAD s QTG

#BM "UXBM FOR SALE - 1915 Stainsbury, Vancouver s 2ECENTLY RENOVATED TWO STOREY OFl CE BUILDING s 3HORT TERM SALE LEASEBACK OPPORTUNITY s 3IGNIl CANT RESIDENTIAL REDEVELOPMENT POTENTIAL s 4USVBO 4BEEMFS 3PC (SFFS

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s #/524 /2$%2%$ 3!,% s ,OCATED AT 0ACIl C (WY TRUCK CROSSING s ACRES WITH DEVELOPMENT POTENTIAL s .JDIBFM 'BSSFMM +PIO &BLJO

SUBLEASE - 88 West Broadway, Vancouver s 3 & !VAILABLE )MMEDIATELY s (IGH VISIBILITY CORNER LOCATION WITH SIGNAGE EXPOSURE s 1UALITY RETAIL IMPROVEMENTS s 3UBLEASE UNTIL !PRIL .BUU 8BMLFS -FOJB $BMJDP FOR SALE – 20299 Industrial Avenue, Langley s 0OTENTIAL $EVELOPMENT /PPORTUNITY WITH HOLDING INCOME s SF BUILDING ON SF OF LAND s #URRENTLY LEASED FOR PER YR #AP s 1BVM 1VSFXBM FOR SALE - #1 3180 262 Street, Langley s SF OF OPEN PLAN /Fl CE SPACE s :ONING ALLOWS MANY /Fl CE USES s (IGH 4RAFl C EXPOSURE s 1BVM 1VSFXBM

FOR LEASE/SALE – 1550 East Hastings Street, Vancouver s 0RIME #OMMERCIAL 0ROPERTY s 5P TO APPROX SF AVAILABLE s (IGH TRAFl C EXPOSURE s 0RIME 7EST TH +ITSILANO LOCATION s SF SITE FEATURES EXISTING BUILDING s !VAILABLE s &ORMER -AZDA DEALERSHIP s $6,500,000 +BNFT 4IBOESP .BSL )BOOBI 3PC (SFFS 4USVBO 4BEEMFS FOR PRE-LEASE – 2718 – 2732 Saint John’s Street FOR SALE - 5810 – 5830 Vedder Road, Chilliwack – The Station, Port Moody s UNIT #HILLIWACK APARTMENT COMPLEX s 5P TO APPROX SF AVAILABLE s "UILT IN THE LATE S WELL MAINTAINED WITH s ,OCATED ALONG 3T *OHN S IN 0ORT -OODY S HISTORIC DISTRICT ELEVATORS IN ALL BUILDINGS s 7ALKING DISTANCE TO 7ESTCOAST %XPRESS UPCOMING s &IRST TIME EVER LISTED FOR SALE • 3PC (SFFS .BSL )BOOBI %VERGREEN 3KY4RAIN ,INE +BNFT 4IBOESP FOR PRE-LEASE - 2035 West 4th Avenue, Vancouver

A8 Lower Mainland/Services

" ,

COMMERCIAL MORTGAGES ALSO, Industrial, Multi-Residential & Construction

FOR ALL TYPES OF COMMERCIAL PROPERTY:

UÊ «>ÀÌ i ÌÊLÕ ` }Ã UÊ Ýi` ÕÃi UÊ-ÌÀ>Ì>ÊÀiÌ> UÊ Ìi É Ìi UÊ `ÕÃÌÀ > ÊÜ>Ài ÕÃi UÊ ÃÌÀÕVÌ É`iÛi « i Ì

LEAKY CONDO FINANCING Full Building Repairs, Upgrades & Remediation

BUSINESS LOANS Acquisitions, Expansion, Equipment & A/R

>ÃÌÊ ««À Û> ÊUÊ*ÕÀV >ÃiÊ ÀÊ,iw > Vi The Origin Group — Mike Lee

604-552-4392

604-565-6370

www.paramountfinancial.biz Over 12 YEARS in business ! HARRISON HOT SPRINGS RESTAURANT WITH PROPERTY Prime location, just steps to the waterfront. A long established profitable restaurant with an excellent reputation. Great business year round. Over 90 seats plus a beautiful large patio. Bonus apartment upstairs for owner or can be rented out for additional income. FANTASTIC OPPORTUNITY! Asking 1.7 mill

BISTRO/RESTAURANT This award winning Bistro is located in the heart of Kitsiano. Very profitable established business. Well known for its quality food and romantic ambiance it draws a strong and steady clientelle. Beautifully furnished decor and layout as well as a high end kitchen with top of the line equipment. Asking 379K

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

1-877-848-6370

michaellee@origingroup.ca COFFEE FRANCHISE DOWNTOWN Rarely available! Over 10 years established Coffee Franchise. This business has just been completely renovated and features the newest look of this well known Franchise. Located in a downtown office tower with easy access for both indoor and outdoor traffic. Strong sales that are continuing to increase makes this one a great buy! Don’t miss this opportunity. Asking 419K

SO

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AUTO REPAIR NEW WESTMINSTER Great corner location! Established and owned by the same operator since 1995. Strong clientelle base and excellent reputation for quality service. Government Inspection Facility, ICBC vendor for mechanical claims and more. OWNER MAY CONSIDER SELLING THE BUILDING Business only asking 88K For price of building please call Heiner for details

INVESTOR ALERT Great investment 19.75 Acres is Zoned for 1 acre, new Sewer Line is only a couple blocks away, potential income 10,000 SF warehouse with 3 cooler and 5 BDRM older house only $3,999,000.00. 31 Acres approximately 15 year old Blueberry farm with 8 bed room house last year berry was around 250,000.00 asking $3,500,000.00 34 Acres for blueberry or raspberry close to 264 St border in USA. $375K Great income 16.44 acres blueberry farm with new 7200 SF house, 5 BR and 1 kitch + 1 spice kitch each fl oor, setup for 2 family plus 2nd house have potential income only $2,700,000.00

AMARJI T G I L L 604-614-7101 Global Force Realty CAFE/COFFEE RICHMOND Newly renovated Cafe/Coffee Shop is located in one of the best business/industrial parksGreat layout, 20 seats. Lots of catering available in this busy area. Serving breakfast and lunch. Very well equipped and shows beautifully. Low rent! Bonus - add'l space in back with its own entrance could be rented out for additional income. Asking 99K

CAFE - COMMERCIAL DR. Non Franchise! Busy and well known Cafe. Fantastic opportunituy to get into a profitable cafe with good lease terms. Kitchen is well equipped, very nice layout and large patio. Liquor license in place. Owner will train. Asking 154K

CALL HEINER FOR DETAILS

at 604-618-6600 or e-mail hscheidacker@sutton.com www.lowermainlandbusinessforsale.com

EJ7

GASTOWN - VANCOUVER • Must see to appreciate! • Approx. 4,500 sq.ft.- Capacity: 192 • Newly re-modelled • New large commercial kitchen • Licensed off-sale cold beer & wine • Selling Good Will $250,000 • Lease to be negotiated • Turn-key operation Call <:DG<: L>C@A:G 6B:M G:6AIN

+%) ,'+"'-)*

HARDY BAINS 604-813-7653 hbains13@hotmail.com Sutton West Coast Realty

Okanagan Motel For Sale Flagged 42 room motel with a 4 bedroom manager’s quarters. Fully updated. Well kept. Room to build a swimming pool. Only $2.7 Million

RAVI PANWAR 604-771 2401 Ravie@telus.net Park Georgia Realty Ltd

L%J% C8E; ILJ? WE TEACH CANADIANS HOW TO PROFIT FROM U.S. FORECLOSURE PROPERTIES The time to invest in U.S. Property is NOW! U.S. Foreclosure Investment Tours Monthly. Each tour includes direct access to top U.S. professional real estate investing Teams including Realtor, Property manager, tax consultant, Lawyer, Auction experts, escrow and title companies and much, much more. You will be touring 10+ properties per day as well as going to the auctions. We will give you everything you need to ensure your success in today’s hottest real estate investing cities.

For More information and booking call or e-mail: contact@jowen.ca

1-800-975-6370

For all your real estate financing needs

MORTGAGE FINANCING www.peoplestrust.com BRITISH COLUMBIA REGION

Brian D. Kennedy 604-331-2211

BRITISH COLUMBIA REGION

Jonathan P. Wong 604-331-2218

PRAIRIE REGION

Dennis K. Aitken 403-205-8203

PRAIRIE REGION

Daniel Stewart 403-205-8202

Flagged Lower Mainland Motel For Sale Very well kept. Only 8 years young. Excellent condition. Indoor corridor, swimming pool, hot tub, sauna, fitness centre & meeting room Knight & Day Restaurant For Sale (Business Only) White Rock Licensed for 99 seats. Only 5 years old Good lease with a long-term option for future. Six Homes in Calgary For Sale or Trade Only 4 years young. Fully rented for $110,000 annually. Buy one or buy all. $379,900 to $490,000 price range. Will consider trades

A9

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

FEATURE Land pressures increase as Metro Vancouver prepares to welcome 1.2 million more people

'JOEJOH SPPN WESTERN INVESTOR ith multi-family residential land topping $1 million an acre – and many single-family building lots selling for more – Metro Vancouver is facing crunch time on the land issue. In its recently released and long-awaited land use and growth plan, Metro Vancouver 2040: Shaping Our Future, the challenge is laid out clearly: where to find land to house another 1.2 million people who will move in by the time your toddler is a homeowner.

8

The plan has been under discussion and draft since 2002, and is meant to guide the region toward sustainable land use over the next 30 years by containing urban sprawl and protecting agriculture, which accounts for one-fifth of all the land. The plan, however, also recognizes that industrial land has been shrinking, so it is now deemed of “regional significance.” That means that any municipality that wants to get land out of an industrial zone needs to get the approval of the Metro Vancouver board. As well, the plan now breaks up what used to be “urban” lands into industrial, mixed employment, general urban and rural residential. But the bottom line is higher density developments in a region that is already the most vertical in Western Canada. This policy has set up a three-way power play between land owners who plan to sell, developers looking to build and muncipalities trying to cash in. “If the zoning says the density on a site is three [meaning three times the square footage can be built], a developer will know he can probably really get four, maybe five,” one insider said. This is because municipalities from Vancouver to the deepest suburbs are encouraging higher density housing. However, as Avison Young principal Robert Gritten noted, municipalities are now charg-

ing dearly for the higher density, 3VOOJOH PVU PG SFTJEFOUJBM MBOE so the developer .FUSP 7BODPVWFS IBT NVDI NPSF SPPN – and the even- UP HSPX UIBO PUIFS NBKPS VSCBO DFOUSFT tual homeowner Area Land mass Population – will be paying Hong Kong 426 sq. miles 7.1 million more regardless. New York City 321 sq. miles 8.1 million In many municipalities, the London, UK 620 sq. miles 7.5 million development cost Metro Vancouver 1,111 sq. miles 2.2 million charges for each Source: Western Investor new condominium or townhouse can be $10,000 or more. wood-frame buildSome vendors, meanwhile, are putting sky- ings. Add in soft high prices on their land. In one recent case, costs, and a builder a 20,000-square-foot site in Vancouver with has to recover $400 multi-family potential was offered to develop- to $500 per square ers for $20 million, or about $250 per buildable foot just to break foot based on the zoning. even. Across Metro “Such prices are unrealistic,” said Stephen Vancouver, the cost Webber, an agent with DTZ Barnicke who has of land equates to Land costs can add $100 or more per square foot to a new Metro worked on a number of multi-family and mixed- from $80 to $100 house before it is even built. Government-imposed costs will then use land deals. p e r b u i l d a b l e , nail 12 per cent to 19 per cent in costs on top of that. Still, Webber conceded that there is a short- Webber estimated. age of residential land and prices have already Gritten notes that at least one South False ductive farmland that could help ease the land surpassed expectations of just a few years ago. Creek development site sold last year at $175 supply – and housing prices – in the Lower Single-family building lots are fetching seven- per buildable foot, and he said there is no indi- Mainland if it were released from the reserve. figure prices in Vancouver, Richmond, Burnaby cation that land prices will come down. He Some Fraser Valley land deemed agriculand North Vancouver. One 40-foot-by-122-foot noted that Metro Vancouver is unique due to ture, for instance, is being turned into lots for building lot on West 14th Avenue, Vancouver, the Agricultural Land Reserve (ALR) that was “palatial houses,” said Abbotsford realtor Todd is being advertised for $2.1 million. set up in 1973 and remains politically sacro- Ratcliffe of BC Farm & Ranch Realty. Ratcliffe said a popular purchase is five-acre Last month in central Coquitlam, a tear-down sanct. rental house on a larger-than-average city lot There is currently 61,288 hectares (151,297 hobby farms that sell for between $700,000 and attracted multiple bids from builders – and sold acres) of Metro Vancouver land in the ALR, $900,000. If the land was zoned residential, it for $30,000 over its $629,000 asking price. which represents 21 per cent of the total land will easily be five times the cost, he noted. But, base. as residential land, it could also be used to cre#VJMEBCMF DPTUT The municipalities with the most ALR land ate dozens of units of multi-family housing, or On the south shore of False Creek, perhaps in the region are Langley, Delta, Surrey, Pitt 20 or more detached houses. Developers today are running on what inventhe most valuable residential real estate in Meadows and Richmond. Pitt Meadows, Canada, land costs now demand at least $117 Langley and Delta, in fact, have over half of tory they have, but the future won’t be in finding greenfield sites. Gritten said that transit per buildable foot for condo developers, based their municipal land base in the ALR. on a recent sale of a 25,000-square-foot site. “No politician has the will to challenge the nodes along the Skytrain and Canada Line staWhile construction costs have come down, ALR,” Grittten said, “but it is a serious issue.” tions would likely be the prime areas for vertiPlease see Squeeze page A10 they still equal about $230 per square foot for He said there are numerous cases of non-proPhoto: Professional Quality Services

FRANK O’BRIEN

-PXFS .BJOMBOE

75th Ave Bell Rd

I-10

Sun Valley Pkwy

411th

Ave

A10 Lower Mainland

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

PUBS

For Sal e

Kamloops, BC 38 Unit Motel in Aberdeen s /UTDOOR HEATED POOL s YRS OLD s "DRM LIVING QUARTERS s -ANAGEMENT IN PLACE Asking $2,299,000 share sale. 250-378-7378 or e-mail motelkam@gmail.com

PACKAGE HOME MANUFACTURING COMPANY Surrey, B.C. Established 1979 Fully equipped production shop and material inventory. Auto Cad computer system. Customer list.

Asking $380,000.00

SOUTH OKANAGAN PUB Liquor Store and Building for sale Asking $1.9 M NORTHERN BC PUB Land and Building opportunity Offered at $950,000

LOWER MAINLAND Pub & Liquor Store

Opportunities For Lower Mainland Pub Opportunities call:

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Phone (604)

619-5410 (604) 862-9915

PRUDENTIAL STERLING REALTY LTD.

INCOME PRODUCING INVESTMENT! NATIONAL TENANTS

Hodgins also noted it was Delta council back in the early 1980s that applied to have the Southlands, then known as the Spetifore cal development. Like most real estate professionals, Gritten is land, excluded from the reserve. convinced that nothing will be done about releasing ALR land for housing in the near future. 'FFT MFWJFT UBYFT In fact, the reverse could be seen. Peter Simpson, president and CEO, Greater Vancouver Home Builders’ Association, said 1VUUJOH MBOE the cost of scarce land – “we are hemmed in by CBDL JOUP "-3 mountains, the ocean, the U.S. border and the This year Delta council voted unanimously to ALR� – has become the number one issue for support returning 538 acres in its Southlands home builders, but it is made worse because of area back to the Agriculture Land Reserve. The spiralling government costs. recommendation has to go to public hearings, Citing a Canada Mortgage and Housing which are usually weighted toward farms and Corp. (CMHC) study on government-imposed away from private development. In a municipal costs, done in 2009, Simpson said various fees, mail-out survey on the issue, roughly 60 per development cost charges and taxes now add cent of respondents preferred maintaining the from 12 per cent to 19 per cent to the cost of controversial land for agriculture. a single-family house in the Metro region. The ruling is a blow toSean Hodgins, prin- Vancouver and Surrey, in fact, were found to cipal of Century Group, which owns the land have the highest government-imposed costs and had presented a planning vision for it that among 30 Canadian municipalities, at $99,124 included retaining one-third for agriculture, and $95,914, respectively. The CMHC study one-third for parks and recreation and schools was done before B.C.’s harmonized sales tax on and one-third for housing. new homes came into effect, Simpson noted. Following the decision, Hodgins wrote a let- But before Metro Vancouver residents start ter to the Delta mayor and council. to fear that we are running out of residential “It was only about one year ago that I sat with land, it must be noted that a vertical direction you at the municipal hall as you assured me that – more highrises – could provide a solution. you would do your best to find an approach to Consider this: Hong Kong has a total land mass Southlands that would benefit the community. of 426 square miles, only one-quarter of which The present recommendation, by contrast, is a can be developed, yet it has a population of matter of short-term expediency taking prece- more than seven million. Metro Vancouver, dence over the interests of the citizens of Delta covering 1,111 square miles, has a population and of agriculture,� he wrote. of 2.2 million.◆

426&&;& from A9

JOHN JOHNSON

MEHRAN MOALLEM

45150 Luckakuck Way, Chilliwack

Business and Commercial Consultant

Value Village, House 2 Home Furniture, End of the Roll Carpet

778-858-9025

Buildings 49,432 sq.ft. Escalating Leases, great short-term increases. Excess land provides room for more building on the site.

mehranmoallem@gmail.com

With over 25 years combined sales and retail experience

IS YOUR BUSINESS FOR SALE? $8,888,000 (6% Cap Rate)

WESTHAM ISLAND WINERY & FARM FOR SALE Westham Island Winery is being offered for sale in Beautiful British Columbia! 32.63 acres of assorted mature berries! Beautiful 3,800 sq.ft home built in 1997 and winery store, large barns, fruit stand,etc! WHAT an OPPORTUNITY!!

B.Elec. Cert. Marketing

RE/MAX CITY COMMERCIAL DIVISION

www.BondedBusinessBrokers.com

CABINET & WOOD WORKING MANUFACTURING

INDOOR AMUSEMENT PARK FOR FAMILY

RETAIL & COMMERCIAL SPACE, CORNER UNIT

Corner unit, almost 5,000 sq ft, established for 5 years, great location & visibility.

Fun business to be in for the family. 7,500 sq ft of different activities, Marina themed playground.

Turn key & ready for your ideas of retail, ofďŹ ce, 660 sq ft corner unit.

34,000 sq ft of automated glass cutting, mitering and tempering facility.

Port Coquitlam

Surrey

Coquitlam

Coquitlam

$1,189,000

$559,000

$519,000

GLASS FABRICATIONS & TEMPERING PLANT

$1,190,000

$3,880,000

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fraser elliott

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VIDEO RENTAL & WIRELESS STORE

Vancouver downtown location, 2000 sq ft of newly remodeled with 40 sitting capacity.

A great business for family, easy to run, good hours & good income.

Established DVD/BLU RAY rental store with cell phone sale & wireless services.

930 sq ft of brand new space for professional ofďŹ ce or retail.

Vancouver

Port Coquitlam

Coquitlam

Coquitlam

$295,000

Business only

$58,000 $69,000

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YOUR BUSINESS, DEAD OR ALIVE! I have clients for it. I EVALUATE, PRICE, MARKET AND SELL!

Lower Mainland/BusinessOpportunities A11

WESTERN INVESTOR MARCH 2011

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OWNERSHIP OPPORTUNITY – BUILDING SUPPLY STORE IN BC – Own your own IRLY Building Centre dealership. We are seeking entrepreneurs to be part of BC’s largest building materials and hardware chain. We offer advertising, computer & merchandising support. New and existing locations. Partnership opportunities available. Dealer - owned co-op. Receive rebates & patronage dividends.

Institutional Quality

Residential / Commercial

Self-Storage Properties For Sale

Private Mortgages

United States of America

Michelle Watson 480-326-9520 michelle.watson@marcusmillichap.com

Contact Brad Dixon or Susan Robinson @ 1-800-663-3342 s www.irlybird.com

Been turned down by your lender for financing? Need quick funds? No mortgage is too big or too small. Call me now for a FAST APPROVAL!

AJIT HUNDAL, AMP TMG The Mortgage Group Canada Telephone: 604-614-6899 Toll Free: 1-866-614-6899 138-555 W. 12th, Vancouver BC, V5Z 3X7

f

t

Each office is independently owned and operated.

LORNE CHERNOCHAN 604-880-0550 (cell) ­Èä{®ÊÓÇx xÇx ÊUÊ À iJV iÀ V > °V ÊUÊCALL OR EMAIL FOR A FULL INFO. SET

f INDUSTRIAL STRATA UNIT FOR SALE $728,000 IN NORTH RICHMOND - REVENUE NOW VACANT POSSESSION SOON Over 3700 sf in near new complex includes a large main floor showroom, second floor offices with separate entrance, kitchen, and w/c; and a major warehouse that offers BOTH dock loading (with leveler) and grade loading. Clean use tenant provides cash flow WITH VACANT POSSESSION for August 1ST, 2011. WESTCOAST

$498,000 COMMERCIAL INVESTMENT STRATEGIC CORNER LOCATION Prime Richmond location across from COSTCO, SKYTRAIN and CASINO. The City Plan allows HOTEL, RETAIL, PUB, RESTAURANT, OFFICE, RECREATIONAL. REVENUE HOUSE on site.

lorne@chernochan.com

COMMERCIAL DEVELOPMENT SITE - LANGLEY

1050 PACIFIC ST (Main Office Entrance) Unique opportunity to own a dual use strata consisting of a 613 sf office with street entrance + a 870 sf 2 bdrm suite above. 2nd entrance 2J – 1033 Marina side. $1,049,000 2132 ALBERTA (Near 6th & Cambie) 2357 sf 2 level C1 Zoned building. Rebuilt 10 yrs ago. Lower level is vacant, 2nd level is a private 2 bed, 2 bath residence. Bonus: 1200 sf 3rd fl roof deck. $1,690,900

21427 83rd AVE near 216 St. proposed interchange in Willoughby Heights in Langley. 1.51 acres for sale (65,000 sq ft) + Properties on either side may also be available (for another 3 acres). Currently zoned SR-2. Suburban Residential with 4200 sq ft house & a few outbuildings on property. Potential future re-zoning to Highway Commercial once interchange finished in 2013 (strip mall, hotel?) $1,999,000

NORTH SURREY LAND ASSEMBLY

LILLOOET LAND FOR SALE - 17 ACRES 1.5 HRS NORTH OF WHISTLER

11880 – 11920 96A AVE 4 lots with 275 ft frontage & 36,000 sf of land, zoned single family. Most properties currently rented. Great holding property! Go to web for info package and area video. $2,100,000

8810 TEXAS CREEK RD (8km south of Lillooet) 17+ acres – view lot on a knoll, drilled well, sweeping views of valley, mountains & river. Golf course nearby. Build your dream home. MUST BE SOLD $139,000

COMMERCIAL DRIVE MEXICAN RESTAURANT

LES TWAROG (604)671-7000

1428 W 7th Ave., Vancouver, B.C. Crest Realty (Westside)

in Vancouver, Vancouver Island, Ontario & Alberta Blenz Franchises ....................... $200K - $368K Steamrollers Franchise Opportunity , SFU, Port Moody, Robson St, Davie St ............................ ......................... $275K each, $319K (Davie St.) Wired Monk Master Franchise & Franchise Opportunity. Wired Monk ...................$135K, $159K Wired Monk Franchise - Vancouver ......................... ................ $262K-$350K depending on location Sandwich Tree master franchise opportunity $275K Canadian Carpet & Tile Vancouver, two locations: ............................................................. $300K, $200K

www.matthewmoadebi.com www.vancouverfranchise.ca

To view listings please visit:

www.6717000.com/biz

MAPLE RIDGE WATERFRONT INDUSTRIAL 2.16 acre M2 Industrial Waterfront. High visibility $1,125,000 MISSION LEASE SPACE - $7.25/sq.ft. PLUS TRIPLE NET Silver Creek Industrial Park - 1800 sq.ft MISSION FOR SALE - $299,900 Silver Creek Industrial Park, 1800 sq.ft. Easy highway access Call GARY FRAIPONT for more info:

RE/MAX Lifestyles Realty FRAIPONT & MANYK

Matthew Moadebi 604-329-6771 (Cell)

www.rltylink.com 604.466.2838 Each office independently owned and operated

m.m7430@gmail.com

OFFICE STRATA UNITS

2095 COMMERCIAL DRIVE – ME & JULIO MODERN MEXICAN KITCHEN 1,920 s/f totally renovated new restaurant with 90 seats & 24 on heated patio. Sales $1M/ yr with $75K Net. Lease $6,317/mo all in. 2am license on Fri. & Sat. (until Aug 2012 + 5yr option) $299,000

Blenz Master Franchise & Franchise Opportunity

Distribution Warehouse

Located at Duke Point near Nanaimo this 35000 sq. ft. warehouse is ideally situated for distribution of goods to Island locations. Just 5 years old this building has 22 ft. ceilings, five loading bays, 1800 sq. ft. of office space as well as a 3 bedroom caretaker suite. Now available for sale at $4.3 million or for lease at $9 NNN.

Warehouse in Chilliwack 4600 sq. ft. warehouse for lease in central location in Chilliwack. Permitted use includes light manufacturing, retail, offices, storage etc. The CSM Zone permits a wide variety of uses. This is at Harvard Business Park and has easy and quick access to all transportation routes. For sale or lease available at $7 NNN or purchase at $575,000.

Corney Les

604-795-6938

RE/MAX Corney Les Realty www.morechilliwackrealestate.com

MAR 2011

Each office is independently owned and operated.

A12 Lower Mainland

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

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

NEW WEST WAREHOUSE

BURNABY OFFICE/RETAIL

s 3& s 2OYAL !VE %XPOSURE s !PPLIANCE &URNITURE $ANCE USES $2,400 / Month

s 3& s 0RIME ,OUGHEED . 2OAD CORNER s 03& .ET

COQUITLAM OFFICE

E. HASTINGS – LAND

s 0ROFESSIONAL CENTRE s SQ FT s .EAR 3KYTRAIN

s &ORECLOSURE 3& s MILES FROM $4 CORE $2.65 Million

VANCOUVER EAST – REVITALIZING AREA s -AIN 'EORGIA STOREY CONCRETE BUILDING s 2EDEVELOPMENT TO FT OR HIGHER s ,OT SIZE X FT Asking: $7.8 Million RICHMOND SITE w HOLDING INCOME s #EDARBRIDGE ,ANSDOWNE !REA s #4$ ZONING WALK TO 2APID 4RANSIT s X FT Asking: $5,998,000

bill@naicommercial.ca

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

www.naibusinesses.ca

ONE HOUR OPTICAL AND HEARING CENTRE

BILL HAMILTON 604-524-3641, x305

AWARD WINNING MILLWORK BUSINESS (LowerMainland). Major clients in Canada and USA. Revenue in excess of $4.5m .........................................................$2.0m inc working cap VANCOUVER DINNER CRUISE BUSINESS NEW LISTING In business for over 15 years operating two yachts from Downtown Vancouver. Nets $310,000 .........$2.5m inc yachts OKANAGAN CATTLE RANCH (nr Keremeos) . 212.62 acres, 3 homes, 4 barns, equip shop. Grazing license for 592 AUM. Vendor ďŹ nancing available ........................................ $1.95m

ASKING $500,000 plus inventory

s .ET INCOME IN EXCESS OF s !LWAYS NEAR FULL OCCUPANCY s -IX OF STEEL CLAD BUILDINGS PARTIAL SPRINKLERS AND STEEL CONTAINERS s ACRE LOT ADJOINING ACRE LOT ALSO AVAILABLE FOR EXPANSION

METAL FABRICATING COMPANY (Burnaby). REDUCED Well established business with strong earnings history and healthy margins .......................................... $2.4m inc equip

s -ULTI TENANT RETAIL OFlCE MIX s 0ROFESSIONALLY MANAGED FOR OWNER EASE s SQ FT BUILDING s .ET INCOME OF

ASKING $3,295,000

SUBLEASE OPPORTUNITY

99 PAD PHASED MANUFACTURED HOME PARK LAC LA HACHE BC ASKING $650,000

INDUSTRIAL INVESTMENT PROPERTY (Delta) 44,366 sq.ft industrial facility in Tilbury. 1.62 Acres. Fully leased. 6.4% Cap rate ........................................ $4,690,000

s "RAND .EW n .O INCOME s ,AKE VIEWS n ,AKE ACCESS s ACRES PADS IN PHASES s st PHASE PADS COMPLETED WITH SEWER WATER AND NATURAL GAS

604-691-6654

alf@naicommercial .ca

delon@naicommercial .ca

PAVING BUSINESS – PRINCE GEORGE

INDUSTRIAL – FOR LEASE

KEN KIERS

604-514-6830 TF: 1-800-890-9855 kiers@naicommercial.ca

770 EAST HIGHWAY 16 s ACRES NEXT TO ACRE !IRPORT ,OGISTICS $EV 0ARK s 'RAVEL EXTRACT UP TO MILLION METRES PERMITS s ,ONG TERM BUILD OUT W PRISTINE VIEWS OF 0RINCE 'EORGE

Asking $4,750,000

604-691-6608

BUSINESSES FOR SALE

JEWELERY STORE – VANCOUVER 6ERY WELL KNOWN STORE IN BUSY 6ANCOU VER S SHOPPING DISTRICT ,OW RENT 0ROlT OF ............................ $280,000 + Inv.

s &ULLY 0AVED :ONED s !CRES TOTAL !BBOTSFORD s #AN BE DEMISED TO SMALLER LOTS s /FlCE AND COVERED WAREHOUSE s #LOSE TO 53 BORDER AND (WY s OWNER MOTIVATED

PRINCE GEORGE, BC – FOR SALE

tedw@naicommercial.ca

WESTERN CANADA

craig@naicommercial.ca

251 Units – 2 Properties

ACRE MAINLY BEDROOM UPGRADES ROOFS BOILER MOST SUITES ETC PER SUITE Asking $11,000,000

PETER SEED

BLUEBERRY FARM (Abbotsford) 3ITUATED ON PRIME -ATSQUI mATS 4HIS WELL MAINTAINED FARM WITH NEW SQ FT HOUSE OFFERS MATURE "LUECRO P AND $UCE 3ET UP FOR MACHINE PICK #OMPLETE DRIP IRRIGATION SYSTEM ....................................$2.1mil

CRAIG TENNOCK 604-880-7290

PRINCE GEORGE, BC – FOR SALE

TED WEIBELZAHL 604-514-6825 or 1-800-890-9855

s 2EVENUE - UP s EBITDA + WITH OWNER WAGE s TON HR "ATCH 0LAN WITH BAGHOUSE $829,000 including equipment & inventory s ,ARGE (6!# UNIT MANUFACTURER s 2EVENUE FORECAST s %BITDA FORECAST - s /WNER MOTIVATED $2.4M including equipment, inventory, working cap

PRINCE GEORGE, BC – FOR SALE 1245 20th Ave + 2050 Norwood St. s SUITE CONCRETE HIGH RISE s TOTAL ACRES s BACHELOR ONES TWO S s 3TABILIZED 0ROFORMA )NCOME #AP

s 3Q &T s 2ETAIL 3HOWROOM s (IGH TRAFlC LOCATION s 3UBLEASE AVAILABLE UNTIL *ULY WITH FURTHER OPTION

BEARD PAPA FOOD FRANCHISE (W.Vancouver) REDUCED Ideal owner operator business. Close to new Osaka supermarket ............................................ $85,000 inc equip

604-691-6646

Asking $11,750,000

FULLY LEASED LANGLEY INVESTMENT BUILDING CAP RATE 6.1%

ARTS & CRAFTS STORE (Vancouver) REDUCED Over 40 years in business. An institution among crafts and modelenthusiasts...................................... $50,000 plus inv

ALF SANDERSON DELON CHEUNG

s "RAND NEW MIXED USE STOREY STRATA RENTAL s SUITES TWOS ONES ONE CONV

STUDIOS s RETAIL OFlCE SUITES s 03&

ASKING $1,475,000

STRUCTURAL STEEL FABRICATING (Lower Mainland). Over 15 years in business in construction industry. Revenue forecast over $1m ............................................... $590,000 inc equip HAIR & BEAUTY SALON (Lower Mainland). REDUCED Very successful full service beauty salon in trendy area. Sales over $460,000. 10 staff. No rentals ............... $288,000 + inv

D

REDUCE

MERRITT MINI STORAGE

AWARD WINNING MEAT & DELI BUSINESS (Okanagan) 12 years in business. $1m in sales annually for 4 yrs. Well equipped. Good lease in place.................. $650,000 plus inv LADIES FASHION BOUTIQUE (Vancouver) NEW LISTING Two high proďŹ le locations. Great branding. Computerized inventory control. Inc $50k inventory..................... $195,000

s 7ELL ESTABLISHED YEAR HISTORY s #ONSISTENTLY PROlTABLE s /NLY HOUR SHOP IN THIS .ORTHERN #OMMUNITY s 3OLID BASE WITH GOOD GROWTH POTENTIAL s 3OME OWNER lNANCING MAY BE AVAILABLE s /WNER RETIRING AND WANTS IT SOLD

KELOWNA, BC – FOR SALE

CURRENCY EXCHANGE (Surrey) 0ROlTABLE YEARS WITH THE CURRENT OWNER SQ FT BUSINESS LOCATED AT THE BUSY ROAD 'OOD LEASE AN D EASY PARKING ..........................................................................................................................$150,000 RESIDENTIAL INVESTMENT (Vancouver) 0RIME +ITS 0OINT SQ FT HALF DUPLEX WITH SQ FT PATIO 5NOBSTRUCTED VIEW OF 6ANIER 0ARK AND HIGH CEILING CROWN MOLDINGS AND SOLID MAPLE HARDWOOD mOORS #OULD BE LEASED AT MONTH .... $1.2M COMMERCIAL/RESIDENTIAL PROPERTY (Gibsons) 3PLIT ZONE 2ESI DENTIAL #OMMERCIAL ACRE PROPERTY WITH COMMERCIAL BUILDING ,OCATED BETWEEN BUSINESS AREA OF 5PPER 'IBSONS 'IBSONS ,ANDING 0ROPERTY HAS LOTS OF POTENTIAL WITH INCREDIBLE VIEWS COULD BE DEVELOPED IN SO MANY WAYS LIKE DUPLEX AT THE BACK AND HAVE COMMERCIAL AT THE FRONT ................................................................................. $465,000 RESTAURANT & PROPERTY (Princeton BC) 0OPULAR 2ESTAURANT WITH FULL LIQUOR LICENSE AND TENANTED LIVING ACCOMMODATION UP STAIRS ............. $498,000 COFFEE FRANCHISE (Richmond) /NE OF THE BEST IN A VERY ATTRACTIVE BUSY AREA 0ROlTABLE WITH LONG LEASE ........................................................ $249,000 + Inv. EURO DELI (Coquiltam) 7ELL ESTABLISHED PROlTABLE DELICATESSEN WITH SMOKE HOUSE 'OOD LEASE .......................................................Assets $183,000 plus Inv.

ELIZABETH WOZNICZKO 604-691-6648 elizabeth@naicommercial.ca

CHRIS WIESER 604-691-6662

COURT ORDERED SALES 397 Acre Development Site, Sechelt BC s :ONED #$ MIXED USE RESIDENTIAL COMMERCIAL RECREATIONAL s !PPROXIMATELY FEET OF WATERFRONT ON 0ORPOISE "AY s Price: $22,250,000 459.1 Acre Development Site, Cranbrook BC s :ONED #$ 5( 2 ALLOWING FOR LOW MEDIUM DENSITY RESIDENTIAL s 3URROUNDING 'ARY 0LAYER DESIGNED GOLF COURSE s Price: $17,000,000 3,070 sq. ft. Retail Commercial Development, Pemberton BC s 'AS BAR -AC$ONALD S ON SITE s Price: $1,690,000 0.82 Acre Light Industrial Lot, Squamish BC s :ONED L ALLOWING FOR INDUSTRIAL RETAIL AND COMMERCIAL USE s Price: $450,000 165 Acre Development Site, Abbotsford BC s 3EVEN PARCELS TOTALING ACRES s Price Reduced: $9,900,000

INDUSTRIAL & DEVELOPMENT SITES 12,000 sq. ft. Strata OfďŹ ce/Warehouse, Richmond BC s :ONED ) ALLOWING FOR INDUSTRIAL RECREATIONAL COMMUNITY AND EDUCATIONAL USE s Price: $1,695,000

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

Committed to Canada. Connected to the World.

A13

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

FEATURE Fee-simple native real estate remains in the works, but First Nations are already cashing in

#BOET VOGSFF[F MBOET PETER MITHAM WESTERN INVESTOR he potential that First Nations bands could one day have fee-simple rights – the ability to buy and sell real estate – is still working its way through the federal First Nations Property Ownership Initiative, but many British Columbia bands are already freeing themselves of the constraints of the Indian Act and traditional municipal planning.

A willingness to do business is driving much of the activity. While municipalities run out of zoned land, First Nations are entering partnerships that are serving the residents of communities that haven’t kept pace with the demand for land. A tight market along Harvey Avenue, the key retail strip in Kelowna, for example, drove Anthem Properties Group of Vancouver across Okanagan Lake to Westbank. “Kelowna suffers from a lot of the same constraints that Vancouver does; water on one side, mountains on the other,� said Stuart Kerr, development director for Anthem. “Growth is limited to either the north or the south ends of town, and the natural extension of that was into the Westbank area.� While the town of Westbank – now West Kelowna – was an option, Anthem was welcomed by the Westbank First Nation. Just outside the limits of West Kelowna, Westbank’s land sits close enough to the Coquihalla connector route to accommodate developments serving both the southern Okanagan and the Nicola Valley, a 90-minute drive south. “Westbank First Nation is obviously very progressive, they have their own self-government and are very business-friendly,� Kerr said. Part of its million-square-foot Governor’s Landing retail development, Anthem expects to open Governor’s Market in April 2011 and

Photo: Anthem Properties Ltd.

5

of the projects being Vancouver’s Property Development Group (PDG) (which is also working with Westbank First Nation on the development of West Kelowna Landing, a 22-acre retail and entertainment centre set to start construction in February and complete in spring 2012). Its projects include a partnership with Chilliwack’s Squiala First Nation and League Assets Corp. of Victoria that includes a 700,000-square-foot shopping centre on a 50-acre site adjacent to Highway 1. Known as Eagle Landing, the centre numbers Cineplex Odeon and Wal-Mart among its anchor tenants. In Vancouver, meanwhile, the Squamish Band has unveiled plans to build at least two residential towers on land it owns at the south end of the Burrard Brige near downtown. The Band said the towers could be a mix of band housing and market condominiums.

5TBXXBTTFO

Self-governing Westbank First Nations near Kelowna have inked an agreement with PDG is also working with Tsawwassen First Anthem Properties Group to develop one million square feet of retail at the site shown Nation to develop a million-square-foot at the bottom of this photo. A separate big-box centre is expected to complete this year.

is moving forward with Snyatån, a joint venture with Westbank First Nation anchored by Winners and Future Shop, with Peace Hills Trust and other retailers set to open in 2011. While among the most developer-friendly of Okanagan bands, Westbank First Nation’s projects are driven by a self-government agreement that gives them the rights, powers, responsibilities and privileges of an owner. While still subject to the Indian Act – title to the lands remains with the Crown – self-government effectively allows the Westbank First Nation to act independent of Ottawa. Additions to its real estate holdings, however, are subject to the act and become accounted as part of its reserve. Still, the flexibility Westbank has made it a key member of theOkanagan Nation Alliance,

which also includes the Osoyoos Indian Band and four other bands in the Southern Interior. Together, the alliance’s members have more than $3 billion in development planned. Chief Clarence Louie of the Osoyoos band has been the poster boy for entrepreneurship through deals with vintner Vincor Canada and Calgary-based Bellstar Hotels and Resorts Ltd., which manages the Spirit Ridge Vineyard Resort and Spa. An eco-industrial park is also planned. Penticton Indian Band plans a mix of residential, commercial and light industrial uses on 550 acres of its land. The Okanagan Indian Band near Vernon is also investigating the potential for industrial development. Similar development is on the go in the Lower Mainland, with a key player in many

retail complex on a portion of the lands the Tsawwassen received as part of their treaty settlement with the province. The deals give PDG access to non-agricultural land in prime locations for development, a rarity in the lush Fraser Valley. The ease of doing business with development-oriented bands hasn’t been affected by the Tsawwassen’s governance model. An integral municipal entity within Metro Vancouver, Tsawwassen First Nation has direc control over its land holdings, unlike self-governing bands in the province that are still governed by the Indian Act. But it’s the willingness to do business that makes the difference, said Keith McRae, a partner and director of acquisitions and development with PDG.

Please see Partners page A14

-PXFS .BJOMBOE

BUILDERS & DEVELOPERS

INVESTOR WHITE ROCK BUSINESSMAN/INVESTOR Contact me if your co:

> is established min 5 years Prefer 2 yrs proďŹ table > is up to 80 km from White Rock > is in manufacturing or marine > has sales 1 to 10 MM > has potential for expansion Will consider ďŹ nancially stressed co

TERR ACE B. C.

Call re: Properties to build on, develop & some to hold. Langley is exploding.

Call re: Mission area 1+ acre subdivision.

11.66 ACRES Langley BC Lucrative retail business will carry the mortgage while you enjoy country life & wait for development demands. Two good size homes, 2400 sq. ft. of retail buildings & more. Great location, super future opportunity, with excellent income from a very lucrative business. Call Vic for info package and pictures.

Row home lots from $195,000. 51 unit townhome site, Maple Ridge. 80+ town - home site near freeway.

s .ORTHERN " # s 0ADS (OUSE s !CRES OF -ULTIFAMILY ,AND s :ERO 6ACANCY s #AP 2ATE

RAY LEWIS

+ELINA 0ROPERTIES ,TD

VIC 604.506.1551

$IRECT ,INE 1-250-615-8688 %MAIL A4A91489@telus.net

Macdonald Realty Olympic

Contact in conďŹ dence:

604-838-0985 see.ken@me.com

-OBILE (OME 0ARK

West Coast Realty LANGLEY

604-812-9733

$1,499,900

vic9@telus.net

www.naicommercial.ca Commercial Real Estate Services, Worldwide. MERRITT TOWN HOUSE DEVELOPMENT SITE

MERRITT TRAVEL CENTRE & TRUCK STOP

OPEN TO OFFERS s 6IEW !cres s 2EADY FOR DEVELOPMENT PERMIT s :ONED 2 s !PPROVED FOR UNITS

ASKING ONLY $14,132 per door

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

s SQ FT "UILDING ON !C BESIDE THE #OQUIHALLA (IGHWAY s 4ENANTS INCLUDE (USKY /IL 'REYHOUND "US $EPOT #ONVENIENCE 3TORE s 'ROSS 3ALES - s Asking $3,500,000

HALSTON MINI STORAGE, KAMLOOPS

KAMLOOPS 42-SUITE APARTMENT BD

s 'ROSS 2EV .ET 0ROlT s Asking $2,300,000

s 4OTALLY RENOVATED WITH TENANT REPLACEMENT s 'ROSS INCOME n CAP RATE

ACE SELF STORAGE, KAMLOOPS

KAMLOOPS MOBILE HOME PARK

s 'ROSS 2EV .ET 0ROlT s Asking $1,900,000

s PADS ON ACRES s 'ROSS REV n CAP RATE s Asking $1,800,000

MICHAEL MARCKWORT

604-691-6638 michael@naicommercial.ca

A14 Lower Mainland Prime High-Rise Development Property in Abbotsford 1.3 acres located just steps away from Mill Lake and Seven Oaks Mall. Contact 604-308-1475 E-mail vasacanada@gmail.com Asking $4.5 million

161 ACRE CRANBERRY FARM

Fully equipped to process & pack for fresh market. 106.6 acres developed & producing with another 29 acres ready to plant. Low taxes, 3 phase power, potable well water. Expected revenue for 2011: $1,800,000.00

DOUG BOSE Ph: 604-524-3641 U dbose@naicommercial.ca

N8I<?FLJ< <8JK M8E:FLM<I › :feZi\k\ Yl`c[`e^ › 8ggifo ('#-'/ jh ]k% ) Õffij › Qfe\[ D) C`^_k @e[ljki`Xc › Gfn\i `j * G_Xj\ Æ -'' mfckj Xe[ +'' Xdgj › Jl`kXYc\ ]fi nXi\_flj\ fi jkfiX^\ › <Xjp XZZ\jj kf ?np ( ;fnekfne MXeZflm\i › 8mX`cXYc\ 8gi`c (# )'(( › I\ek `j ,+'' ki`gc\ e\k

J\i`flj `ehl`i`\j fecp gc\Xj\ :Xcc -'+$),*$/,)*

FOR LEASE OR SALE *Ă€ÂˆÂ“iĂŠ ĂŽĂŠ>VĂ€iĂƒĂŠ TWO 18 HOLE ĂƒĂ•Â“Â“iÀÊ ÂœÂ˜ĂŠĂŒÂ…iĂŠ ĂŠ THEMED ĂŒÂœĂ•Ă€ÂˆĂƒÂ“ĂŠ -Â…Ă•ĂƒĂœ>ÂŤ Â?Âœ MINI-GOLF ĂŠ V>ĂŒÂˆÂœÂ˜ i ÂŽ > COURSES ON LANDSCAPED PROPERTY UĂŠ Ă•Â?Â?ĂŠ-iĂ€Ă›ÂˆVi`ĂŠÂ?ˆViÂ˜Ăƒi`ĂŠV>ĂƒĂ•>Â?ĂŠ wĂŠÂ˜iĂŠ`ˆ˜ˆ˜}ĂŠĂ€iĂƒĂŒ>Ă•Ă€>Â˜ĂŒĂŠEĂŠÂŤ>ĂŒÂˆÂœ°ĂŠ UĂŠ Â?>ĂƒĂŒiÀÊLՓiÀÊLÂœ>ĂŒĂƒ]ĂŠ>Ă€V>`i]ĂŠÂˆViĂŠVĂ€i>“ÊL>Ă€] ĂˆĂŠÂ?>˜iĂŠLÂœĂœÂ?ˆ˜}ĂŠ>Â?Â?iĂžĂŠĂœĂ‰ĂŠVÂœĂƒÂ“ÂˆVĂŠÂ?ˆ}Â…ĂŒÂˆÂ˜}°ĂŠ UĂŠ,iÂ˜ĂŒ>Â?ĂŠÂ…ÂœÂ“iĂŠÂœÂ˜ĂŠĂƒÂˆĂŒiĂŠÂŤ>Ă€ĂŒĂŠÂœvĂŠÂŤĂ€ÂœÂŤiĂ€ĂŒĂž°ĂŠ UĂŠ/Ă•Ă€Â˜Â‡ÂŽiÞÊÂ?i>ĂƒiĂŠÂˆÂ˜VÂ?Ă•`iĂƒĂŠ>Â?Â?ĂŠ iÂľĂ•ÂˆÂŤÂ“iÂ˜ĂŒĂŠĂŒÂœĂŠÂœÂŤiĂ€>ĂŒiĂŠLĂ•ĂƒÂˆÂ˜iĂƒĂƒ°ĂŠ UĂŠ6iÀÞÊÂ?ÂœĂœĂŠĂƒĂŒ>Ă€ĂŒÂ‡Ă•ÂŤĂŠÂœĂ›iÀ…i>`tĂŠ *iĂ€viVĂŒĂŠv>“ˆÂ?ÞÊLĂ•ĂƒÂˆÂ˜iĂƒĂƒt

i“>ˆÂ?\ĂŠfamilyfun4sale@gmail.com Ă›ÂˆĂƒÂˆĂŒ\ www.familyfun4sale.com

Call Today For Your Management Proposal!!

Property Management 7 7 We give you our full attention at fair and competitive rates! Ph: 604-864-6400 T/F: 1-877-864-6424 www.strataschoice.com email: colleen@strataschoice.com 1A 33820 South Fraser Way, Abbotsford, BC V2S 2C5

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

1"35/&34 from A13 “Generally speaking, the First Nations in our experience have been very receptive to doing business, and it’s been a very good source of business for us,� he said. “We’ve done one project that had INAC [Indian and Northern Affairs Canada] involved. It wasn’t insurmountable, but it was certainly not as quick and streamlined as dealing with the First Nations that are self-governing.� This has been true whether dealing with the veteran team at Westbank, the nascent Tsawwassen or the smaller Squiala, McRae said. One of the key incentives for First Nations partnering with developers is the job opportunities. Retail is one good example, with TFN Economic Development Corp. estimating the number of ongoing jobs at the PDG project at between 1,500 and 2,000 full- and part-time positions, many earmarked for natives. Those jobs provide an incentive to get development started – a point on which TFN CEO Chris Hartman said a self-governing First Nation can be competitive against surrounding municipalities. “We believe that we can compete in terms of confidence in the development approval process and the time that goes with it, which is where a lot of the other municipalities start to fall down,� he said. “We’re looking to make sure our approval process is one of the quickest, yet still complete, in the region.� The prompt striking of the retail develop-

ment in the first year after the TFN treaty’s effective date in April 2009 is a case in point, and swift progress toward development of the initial 100 acres of industrial property promises to be another. TFN received federal stimulus funding to service its industrial property with a view to ensuring developers could get started immediately on the approval of their development applications. Tsawwassen has a shortlist of two developers queued for its industrial sites, Hartman said.

-BOE SJDI

More recently, residential developers have begun to move in, and are working with First Nation members who, under the Indian Act, held certificates of possession for land. “Those members have now been approached by experienced residential developers who have consolidated their holdings,� Hartman said. “We’re expecting residential development to come forward in the short term.� While the opportunities may appear fresh, they’re the kind First Nations have awaited for years. While bands have been land-rich, they’ve lacked the means to make use of the land reserved for them until recently. And, with various forms of settlements, selfgovernance land codes and the potential for greater property rights under the First Nations Property Ownership Initiative (which would free registered First Nations members from many of the constraints of the Indian Act, but not the act itself), the opportunities promise to increase.◆

Powell River Investment O P P O RT U N I T I E S

Excellent income property

in downtown Powell River. Ocean view building with retail & residential income plus large, pay-per-use parking lot adjacent to ferry terminal. $429,900

Ideal commercial building site

with fantastic ocean view! Paved 33’ x 86’ lot on busy Marine Avenue among downtown restaurants, retail and service outlets. $109,900

In-Town Oceanfront Property

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

MagniďŹ cent Waterfront Acreage

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

Incredible Location!

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

Ideal Agri-Business Opportunity 102 acres fairly level land; many possibilities; easy access; in ALR

Great Investment Property

$569,900

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

Aroma's Gourmet Coffee & Lunch Well established; coffee & Lunch. Well established; steady clientele. Leased space on active business complex; Across from Airport. Financials available. $59,900

GLENN YAMADA CELL: 604-240-2749 EMAIL:

g-yamada@shaw.ca

COMMERCIAL AND RESIDENTIAL REAL ESTATE SINCE 1989

LAND DEVELOPMENT

Condo Site $2.3M

SOLD

UĂŠ, ‡{]ĂŠĂ“Ă‡ĂŠĂ•Â˜ÂˆĂŒĂƒ]ĂŠ6>˜VÂœĂ•Ă›iÀÊ >ĂƒĂŒ

NEW !!ĂŠĂŠGloucester Estates, 1.6 acres - $1.45M UĂŠĂ“Ă‡Ă“ĂˆxĂŠ Â?ÂœĂ•ViĂƒĂŒiÀÊ7>ÞʇÊ -ĂŠ6{äĂ“Ă“ÂŁÂŁx SOLD UĂŠ Ӈ ĂŠâœ˜ˆ˜}]ĂŠÂ?iĂ›iÂ?ĂŠÂ?ÂœĂŒ]ĂŠ>Â?Â?ĂŠĂƒiĂ€Ă›ÂˆViĂƒĂŠ>ĂŒĂŠÂ?ÂœĂŒĂŠÂ?ˆ˜i FOR LEASE

LEASED 3,000 SF 2nd floor space UĂŠ ÕÀÀiÂ˜ĂŒÂ?ÞÊ>ĂŠ >˜ViĂŠ-ĂŒĂ•`ÂˆÂœĂŠĂ‰ĂŠÂŤiĂ€viVĂŒĂŠvÂœĂ€ĂŠ >Ă€ĂŒÂˆ>Â?ĂŠ Ă€ĂŒĂƒ BUSINESSES, LAND & BUILDING

Waste Disposal Business $4 SOLD Mil. UĂŠ->Â?iĂƒĂŠf™Ê ˆÂ?Â?ÂˆÂœÂ˜ĂŠ

Pub, Land and Building

SOLD

$2.7 Mil.

NEW!!ĂŠGreek Mediterranean Restaurant $450K UĂŠ iĂŒĂŠĂŒÂœĂŠÂœĂœÂ˜iÀÊfĂ“xä REDUCED!! $400K UĂŠ Â˜Â˜Ă•>Â?ĂŠ->Â?iĂƒĂŠfÂŁĂŠÂ“ÂˆÂ?Â?ÂˆÂœÂ˜ĂŠÂœĂ›iĂ€ĂŠĂŒÂ…iĂŠÂ?>ĂƒĂŒĂŠĂŽĂŠĂži>Ă€Ăƒ UĂŠ >ÂŤ>VÂˆĂŒĂžĂŠÂ‡ĂŠĂ‡xĂŠÂŤÂ?Ă•ĂƒĂŠÂŁnĂŠÂŤ>ĂŒÂˆÂœĂŠĂœÂˆĂŒÂ…ĂŠ ÂˆÂľĂ•ÂœĂ€ĂŠ ˆViÂ˜Ăƒi UĂŠ/Ă€ÂˆÂ‡ĂŠ ÂˆĂŒÂˆiĂƒĂŠ>Ă€i>ʇÊ œ˜vˆ`iÂ˜ĂŒÂˆ>Â?ÂˆĂŒĂžĂŠ>ĂŠÂ“Ă•ĂƒĂŒ°ĂŠ ˜vÂœĂŠÂŤÂŽ}°ĂŠ>Ă›>ˆÂ?>LÂ?i MEAT AND DELI SHOP $59K SOLD NEW!! CARIBBEAN PIZZA & RESTAURANT $59,900 UĂŠ{nĂŠĂƒi>ĂŒĂŠĂ€iĂƒĂŒ>Ă•Ă€>Â˜ĂŒĂŠĂœÂˆĂŒÂ…ĂŠ ÂˆÂľĂ•ÂœĂ€ĂŠÂ?ˆVi˜ViĂŠĂŠĂŠĂŠĂŠĂŠĂŠĂŠĂŠĂŠ ĂŠ UĂŠ ÂľĂ•Âˆ°ĂŠÂˆÂ˜VÂ?°ĂŠĂœ>Â?ÂŽÂ‡ÂˆÂ˜ĂŠVœœÂ?iĂ€]ĂŠ}Ă€ÂˆÂ?Â?]ÊÇ½ĂŠÂ…œœ`ĂŠv>˜]ĂŠiĂŒV°ĂŠ UĂŠ Ă€i>ĂŒĂŠÂ?ÂœV>ĂŒÂˆÂœÂ˜ĂŠÂ‡ĂŠ6>˜V°ĂŠ >ĂƒĂŒĂŠ >ĂƒĂŒÂˆÂ˜}ĂƒĂŠ-ĂŒ°ĂŠ ĂŠ UĂŠ >ĂƒĂžĂŠĂŒÂœĂŠVÂ…>˜}iĂŠvœœ`ĂŠĂ›iÂ˜Ă•iʇÊi°}°ĂŠ/>ÂŤ>ĂƒĂŠ >Ă€ NEW!! CHILDREN’S PLAYZONE CENTRE $43,000 UĂŠÂŁĂŠĂžĂ€ĂŠÂœÂ?`ĂŠÂŁ]Ă“xäĂŠ- ĂŠÂŤÂ?>Ăžâœ˜iĂŠvÂœĂ€ĂŠÂŽÂˆ`ĂƒĂŠÂŁĂŠĂŒÂœĂŠĂˆĂŠ UĂŠÂœvviĂ€ĂƒĂŠ`Ă€ÂœÂŤÂ‡ÂˆÂ˜ĂŠ}ޓÊEĂŠÂŤÂ?>Ăž]`>˜ViĂŠÂ“ÂœĂ›i“iÂ˜ĂŒĂŠVÂ?>ĂƒĂƒiĂƒ]ĂŠ ĂŠĂŠĂŠLÂˆĂ€ĂŒÂ…`>Þʍ>Ă€ĂŒÂˆiĂƒĂŠ­Ă›iĂ€ĂžĂŠÂŤÂœÂŤĂ•Â?>ÀŽÊEĂŠÂ?ÂˆÂ“ÂˆĂŒi`ĂŠL>LĂžĂƒÂˆĂŒĂŒÂˆÂ˜}ĂŠ UĂŠ7iLÂ‡ĂƒÂˆĂŒiĂŠÂˆÂ˜VÂ?Ă•`i`°ĂŠ ÂœĂœĂŠ Ă€ÂœĂƒĂƒĂŠiĂ?ÂŤiÂ˜ĂƒiĂƒĂŠf£ÇääĂŠÂ“Âœ°ĂŠ UĂŠxĂŠ`>ĂžĂƒĂŠ>ĂŠĂœiiÂŽ°ĂŠ*iĂ€viVĂŒĂŠvÂœĂ€ĂŠ>ĂŠÂ“ÂœÂ“ĂŠEĂŠ`>Ă•}Â…ĂŒiĂ€ĂŠĂŒi>“ GOURMET MEAT SHOP $229K UĂŠ ÂœĂ•Ă€Â“iĂŒĂŠ i>ĂŒĂŠ-Â…Âœ°ĂŠ-Ă•ÂŤiĂ€ĂŠĂŒĂ•Ă€Â˜Â‡ÂŽiÞÊLĂ•Ăƒ°ĂŠ UĂŠ/Ă€ÂˆÂ‡VÂˆĂŒÂˆiĂƒĂŠ>Ă€i>ʇÊ}Ă€i>ĂŒĂŠÂ?ÂœV>ĂŒÂˆÂœÂ˜ĂŠĂ‰ĂŠÂ“ÂˆÂ˜ÂˆÂ“>Â?ĂŠVÂœÂ“ÂŤiĂŒÂˆĂŒÂˆÂœÂ˜ UĂŠ ĂƒĂŒ>LÂ?ÂˆĂƒÂ…i`ĂŠÂŁĂ“ĂŠĂžĂ€Ăƒ°ĂŠ Â˜Ă›iÂ˜ĂŒÂœĂ€ĂžĂŠ "/ĂŠÂˆÂ˜VÂ?Ă•`i`ĂŠ­fĂŽä ÂŽ UĂŠ->Â?iĂƒĂŠfĂˆää ÊÉÊ iĂŒĂŠĂŒÂœĂŠÂœĂœÂ˜iÀÊfÂŁĂ“ä °ĂŠ ˜vÂœĂŠÂŤÂŽ}°ĂŠ>Ă›>ˆÂ?>LÂ?i

For more information contact us at 1-888-597-7272

Thinking of selling your Business?? Give me a call. I’ll be happy to sit down with you and evaluate your Business.

A15

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

COVER Soaring development cost charges not expected to slow demand for land in fast-growing suburbs

-BOHMFZ¤T EJSU SUSAN M. BOYCE WESTERN INVESTOR he development community is bracing for escalating costs in both the Township of Langley and City of Langley. Particularly troubling to many is the city’s proposed development cost charge (DCC) increases, which head to final reading this summer and, if approved, will put upward pressure on the bottom line across all sectors.

Peter Simpson, president and CEO, Greater Vancouver Home Builders’ Association: $22,000 per house in DCCs in Langley. Photo: Qualico

The proposed bylaw would see the city’s residential DCCs more than double. The new charges would amount to $22,164 on a new house, compared with the current $9,078, and the DCC per strata unit – the most popular form of housing – would rise to $17,678 for townhomes and $11,661 for every new condo. The industrial DCCs will hit a whopping $4,053 per 100 square metres compared with $1,932 in the township and $1,759 in the neighbouring municipality of Surrey. Peter Simpson, president and CEO of the Greater Vancouver Home Builders’ Association, voiced his concern in a letter to Mayor Peter Fassbender. “Since Langley City is a much denser, compact area than Surrey or Langley Township, it is puzzling why Langley City would require a hefty infrastructure increase,” Simpson noted. “Furthermore, we do not understand how construction costs to provide infrastructure of single-family homes have risen 244 per cent since 2004.” Fassbender defends the DCC increases as overdue, noting they were last set in 2004. He adds the city has developed a reputation for its ability to fast-track building permits – in one case a development permit was received on Wednesday and approved in just five days on the following Monday. While he says a 90-day turnaround is more typical, Fassbender believes

Photo: Richard Lam

5

Langley Township: Qualico’s Willoughby Town Centre will break ground this fall with a $58 million, 148,000-square-foot office/retail project in the first phase.

land development with Qualico and co-chair of the Urban Development Institute’s (UDI) Langley liaison committee, notes other incremental costs are also on the rise – and many of these creeping costs are less immediately visible. He cites examples including the $78,000per-acre amenities fee on developments in the now emerging Yorkson neighbourhood, the 5 per cent land acquisition policy and a requirement to provide child-friendly amenity areas of four square metres per unit for apartment buildings and eight square metres per unit for townhouse projects. In a presentation to council, the UDI also expressed concerns that the township’s proposed changes to its subdivision and control bylaw will further increase costs – and has examples to support this concern. According to the UDI, in some areas devel5PXOTIJQ By comparison, the township’s 2010 DCC opers are required to provide both a road bike increase of just over 20 per cent seems mini- lane and greenway bike trails – even though mal, but Hugh Carter, general manager of the two may only be a few metres apart – thus

finding ways to speed the application process represents a “significant, ongoing benefit” to the development industry. Bob Dominick, vice-president, sales and marketing, at Weststone Group, the company currently developing the $17 million final phase of condominiums at Serenade, acknowledged any increase in DCCs is “a sad fact.” However he’s also quick to praise the city for its strong leadership and vision. “This community is clearly open for business,” he said, adding he hopes plans will continue moving forward to allow live/work units. Zoning is already in place to increase allowable units per acre from 100 to 150 in the downtown core – meaning the City of Langley is open to densification.

reducing development area and adding as much as $9,000 per lot. Right of way for pipes is being widened from three metres to 4.5 metres not only potentially adding another $9,000 per lot when required but also reducing the number of lots per acre and increasing pavement requirements. The extra costs, however, do nothing to dampen Carter’s enthusiasm about Qualico’s upcoming Willoughby Town Centre project on a 20-acre land parcel in Yorkson. Anticipated to break ground this fall, the initial phase will be a $58 million, 148,000-square-foot office/ retail project anticipated to be comprised of an office building plus a family-style village shopping centre anchored by a 27,000-squarefoot Loblaw grocery store. Later phases will include up to 350 condominium homes plus an additional 750 multi-family residences. To the east at Glover Road and the Langley Bypass, office strata sales are already underway at Collection Square. A collaboration between Anthem Properties and the Open Road Auto Group, this 15.6acre site will ultimately house the region’s newest BMW/MINI dealership (expected to open its doors later this summer) plus up to

Please see Langleys page A16

-PXFS .BJOMBOE INVESTMENT AND BUSINESS OPPORTUNITIES MOTEL Surrey Motel – 27 rooms plus

FOR SALE MAPLE RIDGE

16 ACRES + LARGE HOME

$2,100,000

PORT COQUITLAM 4 LOT SUBDIVISON $1,295,000

LANGLEY

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

manager’s suite on approx 41,300 sq ft lot. Asking $3,300,000

INDIAN RESTAURANT Vancouver’s most famous Indian Cuisine, 170 seat liquor rest. Serving lunch and dinner buffet plus Indian sweets. It’s a goldmine. Asking $1,100,000

PUB/LIQUOR STORE – BARRIERE, BC Renovated 25 unit motor inn with manager’s suite, restaurant, pub/liquor store. Asking $2,450,000

PORT COQUITLAM WAREHOUSE Net income approx. $148,470/ year. Building 23,700 sqft. on 38,000 sqft. lot. Fully rented $2,150,000

INVESTMENT PROPERTY – LANGLEY, BC Excellent investment property for future development. Approximately 39,000 sq ft land, building is used as automotive repair and 3 bedroom apartment. Asking $1,500,000

BOTTLE DEPOT – TRAIL BC Land, Building & Business. Encorp license, depot, electronics, paint care. $948,000 GREAT

FLEETWOOD

4 LARGE LOT SUBDIVISION

$1,499,000

HOLDING

PROPERTY

Wonderful opportunity to hold and operate a well established business in the Fraser Valley. 20 lane bowling alley, food and liquor licence, ample parking, recent updates and renovations. Asking $3,695,000

GAS STATION – ALDERGROVE, BC. Please visit our website or call for more details.

monarkinvestments.ca

604-592-7250

Financing Available. Potential Trades.

Shell Gas Station, convenience store, & propane. Business Only $429,000

ESSO STATION – BARRIERE, BC Renovated Esso Gas Station, C-store, propane truck stop. Truck/car wash plus owner’s suite. Asking $2,600,000

ESSO STATION – LANGLEY, BC GROUND FLOOR: Esso gas bar/ C-store, and Post office. 2nd FLOOR: 4 - 2 bedroom apartments. Each unit self contained. Land, Building & Business $2,850,000

HARRISON

1.23

For potential townhomes

residential

ACRE

For Sale by Owner UÊ 20 Acre Farm in East Maple Ridge on Whonnock Creek UÊ 3 Bedroom Home Completely Renovated UÊ Impeccable Barn & Out Buildings

LOT

subdivision or $695,000 LOWER MAINLAND Well established c-store/produce & flowers, daily sales over $3800.00 per day plus rental income. Asking $2,000,000 mil with property. Or business only $498,000 ABBOTSFORD COFFEE Specialty coffee/café in a busy strip mall $129,000

UÊ Plenty of Good Water UÊ Move Right In UÊ Low Farm Taxes Priced to Sell

$988,500

BOTTLE DEPOT - ENDERBY, BC Encorp license Bottle Depot. Business with property. $445,000

KAMLOOPS BC Free standing building with gas bar leased to a national tenant for 5 years + 2 -5 yr options. Net income to owner $86,400 per year. Asking $1,450,000 FRASER VALLEY GAS BAR 50% Share for sale in a high volume. Petro Canada gas station/ c - store + propane Busines only asking $385,000

HOPE BC – UPA NAPA PARTS STORE With land and building. Asking $1,350,000 + inv. $600,000

ASHOK KUMAR 604-855-0800 TF: 1-866-855-0800

Call

778-982-2112

A16 Lower Mainland

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

-"/(-&:4 from A15

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

COMMERCIAL R E A L E S TAT E S E R V I C E S SENIOR'S DEVELOPMENT SITE SALE: $2,800,000 Foundation in place, tendered plans, permits, ready to complete.

four other high-end dealerships. In addition to 40,000 square feet of office space, Collection Square will provide three retail/commercial buildings totalling approximately 30,000 square feet. Stuart Kerr, Anthem Properties’ director of development, noted there is a pent up demand for this type of product since most recent construction has been designed following the business park model. Purchase prices of the commercial strata units range between $400 and $440 per square foot.

5SBOTJU MJOL LOWER MAINLAND Fully Operating Seniors Building 1 Year Old - $39 Million Mixed Development New Westminster 39 Apartment Units, 7 Townhouse Units $3.3 Million

40 ACRES Residential Mountain Top 20 Estate Homes - $6M

WANTED

CONTAMINATED SITES I have experienced buyers for immediate purchase of your site. CALL DAN IMMEDIATELY FOR REVIEW OF YOUR SITE

Your specialist in PRIME income-generating and redevelopment opportunities:

Now under construction, the 800-stall Park & Ride at 202 Street and Highway 1 is a partnership between the Province of British Columbia, the Government of Canada (through the Infrastructure Stimulus Fund) and TransLink. It will be the terminus of the first regular public transit connection over the Port Mann Bridge in more than two decades. RapidBus service will run every 10 to 15 minutes during peak periods and connect commuters to the Lougheed SkyTrain Station in less than 25 minutes. Estimates suggest that by 2031 over 20,000 people will use the service. With the Willoughby/Willowbrook neighbourhood predicted to reach a population of more than 75,000 residents, it’s no surprise the 260,483-square-foot, $55 million Langley Events Centre (LEC) has become a sports and recreation destination facility. The B.C. government, the Township of Langley and

private investors each contributed $15 million while the balance was financed by other private sources including $1 million from theLangley Gymnastics Foundation. And for naysayers who suggest the construction/housing industry might be over-estimating its importance as an economic driver in the Langleys, heavyweight developer ParkLane Homes discovered some interesting statistics in its recent employment impact study on Waterfront at Bedford Landing. This 78-unit apartment is part of the company’s 78-acre master-planned community on the riverside in Fort Langley. In total, 1,500 full-time jobs were the result of this one phase alone – first-tier jobs for consultants suppliers and trades. Additional spinoffs in secondary employment was not included. Looking to the future, Milt Kruger, president of the Greater Langley Chamber of Commerce, believes the Langley sister cities have a great future – but it’s a future that needs to be nurtured. Among the many incentives the chamber is undertaking toward this end, Kruger said mobile business licensing is one of the most exciting. Based on a successful 2008 pilot program in the Okanagan-Similkameen, this program would allow contractors and tradespeople to buy a business licence in their municipal home base plus an add-on mobile licence legalizing them to work in both the City and Township of Langley as well as Abbotsford, Mission, Chilliwack and Maple Ridge. In the first year of operation in the Okanagan-Similkameen, he

2VJDL GBDUT BRITISH COLUMBIA Vancouver Burnaby

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Fort Langley

LANGLEY

USA

$JUZ PG -BOHMFZ # $ Size Four square miles Population 25,000 Retail trade market 500,000 people Average condo price $218,000

5PXOTIJQ PG -BOHMFZ # $ Size 122 square miles Population 104,000 Average house price $500,000

noted the region saw an increase of $200,000 in licensing revenue. “Not only does this dramatically reduce bureaucratic red tape for the contractor, thus encouraging compliance, but the consumer now has more choice,� he said. “Truly a winwin-win solution.�◆

UNIQUE FRANCHISING OPPORTUNITIES

USA Investments

In Western Canada

I pay referrals to Canadian agents

Also available: 56 unit RV park on 4 acres, Gas Station w/ C-Store, and several hotels.

Are you the type of person who is community-minded, knows the value of excellent customer service, and enjoys interaction with other people? Then, we would like to offer you a turnkey package, complete with proven operating system, full training, and on-going support. You’ll meet the nicest people as you operate your business “handson�. We have been in operation since 1980 and have over 460 stores across Canada.

I have several “unlisted� properties and can help you with immigration (E-2 VISA) and investment issues.

If having a business of your own with the support of a successful franchise is of interest to you, please call Bonnie Armstrong at the Western Regional OfďŹ ce for more information 1-800-661-7682 (ext 270) or visit our website at www.franchise.mmmeatshops.com

Featured Property: Thriving Taxi Cab Business. Includes 50+ vehicles, licenses, real estate, large building w/ shop.

Please call me at ĂŽĂˆäÂ‡Â™ĂˆÂŁÂ‡Ă“ĂˆĂ‡ÂŁĂŠĂŠUĂŠĂŠor email starrpro@msn.com

Patrick Starr John L. Scott Real Estate

Ray Veenbaas 2341

LITTLE OAK REALTY 604 859

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

"All ofďŹ ces independently owned and operated"

1-800-668-8661

RichardRiemersma 604 309 8541

RESIDENTIAL, COMMERCIAL, INVESTMENT & AGRICULTURE

NEED OFFICE OR STRIP MALL UP TO $12,000,000

Little Oak Realty

RECREATIONAL PRODUCTS BUSINESS with LAND & BUILDING @ as Going Concern package price

ISLAND PROPERTY

DEVELOPMENT

5 COVES ECO RESORT

1.78 ACRES, PROPOSED TOWNHOUSE DEVELOPMENT

( Across Howe Sound from Furry Creek & Britannia Beach )

( with up to 3.5 acre assembly possible )

$2,950,000

$1,500,000

$1,000,000 $2,750,000 $3,750,000

BUSINESS AIR FARE LOUNGE

MOBILE SANDWICH TRUCKS $245,000 CONTRACTOR SUPPLY SAMMY J PEPPER'S

STRIP MALL Call for details ( UNDER CONTRACT ) 604-859-2341

BEER & WINE STORE, HOTEL & PUB Asking $2,950,000 TF 1-800-668-8661

$400,000 $1,200,000

FRANCHISE RESTAURANT FRASER VALLEY $459,900 FRANCHISE RESTAURANT LOWER MAINLAND $1,500,000

#9–2630 Bourquin W., Abbotsford

"EACH OFFICE INDEPENDENTLY OWNED & OPERATED"

$89,900

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

Lower Mainland A17

A18 Lower Mainland For Sale

BURNABY OfďŹ ce Investment - fully leased property

BUSINESS FOR SALE SURREY Diesel Engine Repair Shop Machinery and Shop Space Established & Well Equipped Visit our website for complete details

- three ofďŹ ce oors - two secure levels of underground parking - .81 acre site For further details please contact:

KENT CRAIG (604) 279-3817

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

kc@kentcraig.com

www.gannetdiesel.com

778-588-6914

63 UNIT APARTMENT

in Thunder Bay, ON - $2.45M

14 UNIT APARTMENT in Windsor, ON - $495,000 Call Ralph: 807.626.3049 or Matt: 780.668.1079 or contact2222@gmail.com

Lac La Biche, AB – 58 pads, 157acres ..... 3,000,000 Brooks, AB – 28 pads, 16.75 acres .......... 1,100,000 Cherryville, BC – 25 pads, 22 acres.............. 750,000 Langenburg, SK – 60 pads, 14 acres ............ 525,000 Houston, BC - MH & RV Park, 40 ac+/- ....... 399,000

Toll Free: 1-888-251-2822 Direct: 604-302-3771 Fax: 1-888-804-1394 Email: hjesse@mobileparks.com www.mobileparks.com

Homelife Glenayre Realty

Macdonald Commercial R.E.S. Ltd

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

FOR SALE • Kitsilano Strata unit, fully leased 1,363 Sq. Ft. 5% Return $689,000.00 FOR LEASE • Prime Kerrisdale retail space on West 41st Ave. | Up to 5,209 Sq. Ft. Eric Poon | 604.714.4768 | www.EricPoonCommercial.com

Retail Investment 5784 – 86 Victoria Drive 2 storey residential/commercial National tenant on ground oor, 2 suites up. Asking $2,000,000

/ J ASPER V ALEMOUNT AREA B.C. s 0RESENTLY FRANCHISED AFl LIATED "EST BUY UNIT -OTEL PLUS SEAT RESTAURANT LOUNGE /N PRIME 9ELLOWHEAD (WY .O 4RUCK STOP LOCATION AND EXCELLENT FRONTAGE !SKING $4,888,888 !PPROX TO #!0 RATE FULLY RENOVATED PRIME LAND ON ACRES 0OSSIBLE TO FRANCHISE 4O (OLIDAY )NN %XPRESS OR (AMPTON )NN s (OLIDAY )NN 2ESORT ,OCATION .........$13 Million s (OLIDAY )NN %XPRESS )NTERIOR $10 Million s "EST 7ESTERN "# )NTERIOR $8.2 Million s 6ICTORIA "# &RANCHISED -OTEL $4.9 Million s $OWNTOWN 6ANCOUVER (OTEL $10.5 Million s "URNABY "# -OTEL $5 Million

Karim Ali Merali Toll Free NEW Cell WORLD Email REALT Y

Development Site

SOLD

Gary Khan | 604.714.4799 | flash1@telus.net FOR SALE – STRATA RETAIL OPPORTUNITY/FULLY TENANTED • Currently 100% leased to six tenants 555 North Road, Coquitlam BC • Available either Individual or Bulk sale • 5 commercial strata lots • Net Income $176,059 • 24 parking stalls • Asking $3,209,000 • Across from Lougheed Town Centre FOR SALE – 107 UNIT SRO/3 LIQUOR LICENSES/CORNER LOCATION • Call for details / UNDER CONTRACT FOR SALE – KAMLOOPS/67 ROOM FULL SERVICE BOUTIQUE HOTEL • Call for details FOR SALE – WATERFRONT DEVELOPMENT SITE • Harrison Hot Springs / Harrison Lake • Opportunity to build 4 storey / 25 units • 138 Ft. of frontage / 26,310 Sq. Ft. site • Asking $2,580,000 Brian Tattrie | 604.714.4783 | btattrie@telus.net | www.BrianTattrie.com APARTMENT BUILDINGS & DEVELOPMENT SITES FOR SALE VIEW ALL LISTINGS AT

www.GOODMANREPORT.com

• 16 Units, Port Alberni, Reduced to $1,797,000 (6.3% Cap) • Prime 1 Acre Waterfront, Harrison Hot Springs (Condo Development Site) • Prime 1 Acre across from Skytrain, North Surrey (Development Site) • 11 units Mount Pleasant (5 - 1-bedroom; 6 - 2-bedroom) | Asking $1,993,000

1-250-566-0072 or 1-888-830-7888 604-657-3448 karimerali@gmail.com

UNDER CONTRACT • 22 units Mt. Pleasant, beautiful building (New Listing) For complete information packages including pictures & financials, view online:

RARE OPPORTUNITY

www.GOODMANREPORT.com

Downtown Vancouver • Non Franchise, Coffee, Pastry, Sandwich Business • Very Low Labour Costs • Sales running 35,000 to 40,000 a month • 14 years same location • Training Provided • Asking $399,000

OKANAGAN GOLF DRIVING RANGE FOR SALE - Land, Building & Business Approx. 10 acres in ALR List Price $1,975,000

David/Mark Goodman | 604.736.5611 | mark@goodmanreport.com

Assembled Site 200 Block East 6th Avenue 200' frontage, 72,468 sf buildable

RARE INDUSTRIAL INVESTMENT FOR SALE

Development Site w/Income

SOLD

604-722-4588

LIST

Top commercial realtors from across Western Canada market their listings through the Western Investor.

1-800-661-6988

Central Mount Pleasant Site

at East 8th and Main Street. C3A zoning. Holding income. 145 foot frontage. Asking $7,300,000

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

• • • • • • • • • •

1765 Coast Meridian Road, Port Coquitlam, BC 116,500 square foot manufacturing/ storage facility M-2 Zoning 6.12 acres of land 24 ft. to 40 ft. ceiling height Dock and Grade loading 4 (5ton) Overhead Cranes Steel frame and metal clad with membrane roof 2500 KVA Power sub-stations Vacant possession Asking: $12,750,000

Gary Webb | 604.341.7650 | www.rgarywebb.com Don O’Brien | 604.219.1578 | www.macdonaldcommercial.com Stuart Wright |778.859.2407|www.macdonaldcommercial.com

Vancouver 604.736.5611 | Fraser Valley 604.590.2444 | www.macdonaldcommercial.com

A19

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

FEATURE Surrey’s office vacancy rate plunges but other suburbs scramble for tenants in overbuilt sector

4QBDF JO UIF ¤CVSCT WI STAFF

4VCVSCBO PGGJDF NBSLFU

WESTERN INVESTOR

Area Surrey Richmond Burnaby New West N. Shore

urrey’s office market, once known for white elephants and double-digit vacancy rates, now has the lowest vacancies in Metro Vancouver with just 1.5 per cent of Class A space available and an overall vacancy rate half that of downtown Vancouver.

4

4VSSFZ It is the polar opposite in Surrey, where a lack of new product and high demand for prime space has pushed net rental rates as high as $28 per square foot amid expectations of even higher prices over the next 12 months. Low supply is a key reason for Surrey’s performance. The other is the takeup of 50,000 square feet of Central City space by Simon Fraser University, about the last large unoccupied space in B.C.’s second largest city. Of the 197,705 square feet of space scheduled to come onto the Surrey market this year, 60,000 square feet is already pre-leased. With just 5,000 square feet of Class A office space available – all of sublease – as of January, “expect demand to remain high and vacancies rates low” for this year, Avison Young

Lease rates (Class A) $17-$24 per square foot $16-$20 per square foot $19-$28 per square foot $16-$26 per square foot $20-$28 per square foot Source: Avison Young, Vancouver

#VSOBCZ Burnaby has a huge inventory of new Class A office space, with 838,000 square feet vacant and an overall vacancy rate above 13 per cent, compared with 8.5 per cent a year ago. “Vacancy rates will creep higher this year as large tenants such as IBM and Telus downsize,” forecasted Avison Young. The market is slowly improving for landlords, however, as a number of major lease deals will see about 240,000 square feet taken up in 2011, most of it Class A in the Still Creek area and at Gilmore Way. Lease rates, now at the lowest level in five years, range from $10 per square foot for Class C space to $28 per square foot for the best Class A offices.

500,000-square-foot Gateway Business Park, and Landview Construction’s 100,000square-foot Dean Centre II are still waiting for lease commitments before they break ground. Yet, most discussion of Surrey’s office market avoids the white elephant in the room. This is the 104th Avenue Centre, a 260,000-squarefoot complex that was originally designed as an Asian-themed shopping mall before being transformed to large-block office space. It has Simon Fraser University has taken 50,000 been vacant since completion in 2005. Arizonasquare feet of office space at Central City, based Donald Pitt, who is trying to secure an Surrey. anchor tenant to commit at least 100,000 square explained. feet, now owns the building. Ron Emerson of Last year, Surrey tenants leased a total Emerson Real Estate Group, Vancouver, the /FX 8FTUNJOTUFS of 85,074 square feet of offices, higher than leasing agent, said he is in the midst of “active For the first time in a decade, the office vacancy Richmond, Burnaby, New Westminster, the discussions” with two potential tenants. rate in New Westminster has fallen below 10 per cent, but barely. The overall vacancy rate North Shore and downtown Vancouver comwas pegged at 9.7 per cent at year-end 2010, bined. 3JDINPOE Surrey’s overall vacancy rate, at 2.5 per cent, With more than 146,000 square feet of and could fall further because of steady demand is less than half that of Vancouver’s downtown, Richmond offices going dark last year, the and a lack of new construction. The only new Yaletown and Broadway markets, all of which glut of sublease space has added to the high- project underway, Wesgroup Properties’ are above 5 per cent. est vacancy rate in the region. With an overall mixed-use Brewery District, will not come on New product coming to Surrey includes vacancy of 24.6 per cent, about one-third of all stream until 2013. 116,000 square feet as the Benchmark Group Class A and Class B space was sitting empty /PSUI 4IPSF of Companies completes the second phase of as of January 1. the Benchmark business centre at Highway 10 Richmond’s silver lining, according to North and West Vancouver have a combined and 152 Street this spring. Avison Young, is the amount of high-quality vacancy rate of 8.1 per cent, with most of the Panorama Park Place phase 3 by Panorama office space at rates dramatically lower than oversupply in larger footprints. Only 35,000 Park Investments will add 45,000 square feet anywhere in Metro Vancouver. For instance, square feet will be added to a market of 1.8 and Southridge Square Holdings will com- Class A space – including some of the highest- million square feet this year, as Harbourview plete about 37,000 square feet by the end of tech new construction – net rental rates are Projects Corp. completes an office and industhe year. Two larger projects – GE Capital’s from $16 per square foot to $20 per square foot, trial building at Harbourside Landing.◆ Photo: Simon Fraser University

With 2.4 million square feet of total space, less than 61,000 square feet is vacant, representing Surrey’s tightest market in at least 13 years, according to a survey by Avison Young. The Surrey experience is in stark contrast to Richmond, where nearly 25 per cent of offices are dark, or Burnaby where Class A vacancy rates have shot above 14 per cent and threaten to go higher as more sublease space hits the market. Burnaby office rental rates are at the lowest level in five years. Warned Avison Young: “[Burnaby and Richmond] landlords competing for tenants may have to offer higher-than-typical inducements.”

Vacancy rate 2.5 per cent 24.6 per cent 13.2 per cent 9.7 per cent 8.1 per cent

lower than in Surrey or New Westminster. Still, downsizing by Microsoft Corp. and the relocation of the BC Lottery Corp. to Vancouver has added sublease space in a market where leasing activity virtually stalled in the last half of 2010. Despite the lease deals and incentives, Avison Young forecasts that Richmond, which has more than 660,000 square feet empty, will see office vacancy rates rise further over the next 12 months.

-PXFS .BJOMBOE

LIQUOR STORES, PUBS, HOTELS/MOTELS #SJOH BMM 0GGFST QUEENS HOTEL & LIQUOR STORE on 110,000 sq ft zoned Hi-Rise C-7 in the heart of Queensborough Super Development Site. 26 rooms. All totally redone. OFFERS! NANAIMO ROAD HOUSE & LIQUOR STORE – $1,050,000 2½ acres. Land & buildings. Priced @ 1 x gross sales. Asset sale. Includes 2 suites. PRICED TO SELL MAPLE RIDGE PUB & LIQUOR STORE $4.2 MILLION, NETS OVER $700,000. WILL SELL SEPARATELY.

“HELPING YOU IS WHAT WE DO!” RESTAURANT FOR SALE $319,800 Great opportunity to own this landmark business located on a busy street. 3,000 sf, 100 seats, fully licenced, low rent and furthermore, over 50 years of operation. Newer equipment. Don't miss it! Info: Nora Valdez 604-351-0625

Put three decades of real estate licensed practice to work for you! Over 15 years specializing in Hotel, Motel and Develop-ment Properties all over BC, with International and Canada-wide marketing. Ten years as Broker Owner/Office Manager for Mixed Residential & ICI offices, and 10 years of FULLSERVICE real estate. Investors, Developers and Hospitality owners LIVE IN HOUSES, too! Whatever your Real Estate needs are, we have the experience (and interpreters) to do the job!

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

VERA HOLMAN 604-318-0024

verasellsvancouver@hotmail.com

CHILLIWACK – PUB & LIQUOR STORE & RESTAURANT excellent money maker $2,500,000 Great lease. SELLER MOTIVATED! TRY YOUR OFFER!

NORA VALDEZ

noravaldez@royallepage.ca

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

NORTHSHORE

Hurry!

3.14 Acres with 397 feet Water Front Zoned Commercial Four (C-4) with 180 degrees of views of Georgia Straight.

BURNABY PUB & LIQUOR STORE – Land & Bldgs. - Future Development Potential $6,900,000

NEIGHBOURHOOD LIQUOR STORES - PUBS - HOTELS - RESTAURANTS IF WE DON’T HAVE IT LISTED WE WILL FIND IT FOR YOU! MANY NEIGHBORHOOD PUBS IN ALL PRICE RANGES NOW AVAILABLE.

Jerry Raczkowski 780-932-2121

BARRY BOCK / DON KAYTOR Phone HOMELIFE BENCHMARK TITUS REALTY

604-575-5262

Phone

604-576-9285

Fax (604) 575-2214 Email: barry_bock@telus.net Website: www.barrybock.com

fax 604-926-9199

Campbell River Development Site

EXCELLENT DEVELOPMENT PROPERTY – Many options – cleared land, approx 34,000 sq ft – zoned commercial/residential. 3 PROPERTIES - OWNER MOTIVATED

3 SURREY PUBS IN BUSY SHOPPING CENTRES - PRICED BELOW REPLACEMENT GREAT TERMS.

604-351-0625

Crest Realty (Westside)

The site: 1430 South Island Highway is approved for 74 units’ quarter share Resort Spa with the building permit in place. Call Jerry Raczkowski for more details 604-602-1111 RE/MAX Crest Westside www.VancouverInvestor.ca

A20 Lower Mainland

www.westerninvestor.com MARCH 2011 WESTERN INVESTOR

VOJRVF QSPQFSUZ

Do you have a

Advertise your listings in our special

)05 1301&35*&4 feature.

Reach potential buyers with money to spend. Western Investor readers have higher than average household income and a real interest in real estate.

Recreational Real Estate ADVERTISING FEATURE: • Limited spaces • 4-colour ads • Special rates

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

WESTERN INVESTOR MARCH 2011

Sea to Sky/Sunshine Coast/Vancouver Island A21

SUNSHINE COAST, BC

WELL ESTABLISHED CLOTHING BOUTIQUE

ML#V4021517 “The Dock� in Sechelt Now $1,399,900 Main street, downtown location with excellent exposure in Sechelt. 2 level building with retail, store, offices and zoned for residential above. High traffic area with lots of parking. 10 tenancies in place, many long term and great cap rate. Call Terry for more info.

ML#V4024655 Main Street, Sechelt

$879,000

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

TERRY & PAM BRA CKETT

FOR SALE $260,000 UĂŠ `i>Â?ĂŠ`ÂœĂœÂ˜ĂŒÂœĂœÂ˜ĂŠ >Ă€ÂˆÂ˜iĂŠĂƒĂŒÂœĂ€ivĂ€ÂœÂ˜ĂŒĂŠ Â?ÂœV>ĂŒÂˆÂœÂ˜ĂŠĂœÂˆĂŒÂ…ĂŠÂ?ÂœĂŒĂƒĂŠÂœvĂŠÂŤ>Ă€ÂŽÂˆÂ˜} UĂŠ*ÂœĂƒÂˆĂŒÂˆĂ›iĂŠĂ€iÂŤĂ•ĂŒ>ĂŒÂˆÂœÂ˜ĂŠ ‡Ê ÂœĂœĂŠÂœĂ›iÀ…i>`ĂŠÂ‡ĂŠÂœÂŤÂŤÂœĂ€ĂŒĂ•Â˜ÂˆĂŒĂžĂŠvÂœĂ€ĂŠiĂ?ÂŤ>Â˜ĂƒÂˆÂœÂ˜ UĂŠ ÂœĂž>Â?ĂŠVĂ•ĂƒĂŒÂœÂ“iÀÊL>Ăƒiʇ ˆ}Â…ĂŠÂŤĂ€ÂœwĂŠĂŒĂŠÂ“>Ă€}ÂˆÂ˜ĂƒĂŠ EĂŠĂƒĂŒi>`ÞÊ}Ă€ÂœĂœĂŒÂ…ĂŠĂ€>ĂŒiĂŠĂƒÂˆÂ˜ViĂŠĂ“ääĂŽĂŠĂŠĂŠ For more info email kathybowes@remax.net

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

Powell River

KATHY BOWES Direct line 604-483-1633 CALL (anytime) www.kathybowes.com

4&$)&-5 # $ SELF STORAGE FACILITY

Well established business. Easy turn-key operation. Located in downtown Sechelt. Owner retiring.

SQUAMISH INVESTMENTS

* " 7 ĂŠ , 6 , ] ĂŠ

3.6 Acres (45 years available remaining on Lease), Fully Fenced, Computerized Gate, 149 Storage Units, Plus Outside Storage, Plus 2000sf Shop (2 years old with 20ft ceiling that could be renovated for more storage), 1200sf Managers Living Quarters with attached OfďŹ ce. Piles of room to expand. John Deere Backhoe and 30,000 lb Forklift optional. www.popeyesstorage.com

Gateway Corner Property Dwtn dev site w/income $1.7 Mil Court Ordered Sale 6,000 sf lot downtown. $250k I-1 Revenue Property 0.55 Acre, tenants $1.19 Mil 1.1 Acre Duplex Site on Creek Includes house, green space $699k

CONDO LIQUIDATION AND BUILDING LOTS Darren McCartney RE/MAX Sea to Sky 604-892-4875 Real Estate Squamish darren.mc@shaw.ca For Sale: 5885 Neptune Rd Sechelt, BC Multi-Family Zoned Land 5 Acres

$2,270,000

Sunshine Coast B.C. The Tuwanek Hotel $2,390,000

www.tuwanekhotel.com

604-681-3334 Graeme Bullus, Brian Reems gbullus@devencorenkf.com breems@devencorenkf.com

For Sale by Owner

(604) 740-5633 $875,000 CAD

LAND for Sale

Pub & Real Estate - 4000 sf on over 1/2 Acre 163 seat & BW allowed, redev. potential $735k Prime Retail For Lease 1,200 – 15,000 sf B Park by National Retailers and Hwy 99! Spring 2011 Prime Retail Building Busy Dwtn corner $1.10 Mil 8 Acre Single Family Site Panoramic views, great location $2.15 Mil

(Devencore Company Ltd.)

DiversiďŹ ed

5 Star Boutique Waterfront B&B and Spa. 4195 sf. Luxury! 3 Oceanfront Theme Suites, 6 F/P, Private Residence, Spa Cottage, Sandy Beach, TurnKey Business Opportunity! Owners Retiring! 10 min. to Sechelt, 40min. ferry to Vancouver. TINA KAIZER 604-741-5066 (cell) Toll free in BC 1-800-895-4313 tinak@dccnet.com Oceanview Realty www.livecoastlife.com

FOR SALE

P R O P E R T I E S

555 Acres of prime sub-divideable forested land with approx.

CHEMAINUS

55,000 cubic metres of coniferous timber, located on 11 contig-

8 Retail Units 1 Apartment 6.75% cap on net

uous titles with gorgeous ocean views, 45 minutes from Victoria on Vancouver Island. All services at property boundary.

Phone (250) 561-7061 or (250) 565-5448 or email to 550031@telus.net.

Please Call ED WILLIAMS (250)589-0969 email: nubiz@shaw.ca VANCOUVER ISLAND Comox Valley

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Vancouver Island & Gulf Islands Victoria: Penthouse residence w/commanding & ever changing S W marine, Juan de Fuca Strait & distant Olympia Mtn views - Views to live with! Situated in prestigious “Shoal Point� complex. A modern well planned & maintained 2 lvl suite of 3706 sq’. Amenities: Concierge, 24 hr security, swimming pool & fitness center, workshop, putting green. Close to all amenities. $2,075,000.

Ardmore: Inviting 2 lvl North Saanich Oceanfront home w/west exposure set in private .67 ac w/easy beach access. The well maintained home w/recent upgrades is sited to take advantage of expansive marine views & beautiful sunsets. $1,495,000. Sansum Narrows: Beautiful natural state oceanfront 5 ac lot w/foreshore license. $275,000. SOLD

Thetis I: Oceanfront of 2.16 acs w/300’ of low Galiano I: Secluded oceanfront home set in 3.1 bank frontage. Panoramic western exposure marine acs. Residence 2561 sq’, guest cottage & cabin. views. Older comfortable 1 lvl country home sited Swimming pool, tennis court. Permission for dock. close to ocean: $899,750. $1,795,000. SOLD Bute I: Your own Island of 2.2 park like acs w/several Saanich: Impressive modern Mediterranean style 8500 beaches & trails. Substantial Dock w/aquatic licence. sq’ 3 level family home w/expansive marine views. Ladysmith harbour. $880,000. Situated on a quiet no through rd. $4,850,000.

Peter Nash | 250.384.0566 direct 877.388.5882 realestate@peternash.com www.peternash.com

UĂŠ /ĂŠ 1-/, ĂŠ-/, / ĂŠĂŠ ³É‡£xääĂŠ-+ĂŠ / Over 20' ceilings 2 full storeys allowed. .............. $274,900 UĂŠ ÂŁ]Ă“ääĂŠ-+ĂŠ /ĂŠÂŁn¿Ê ĂŠĂŠ°°°°°°° $174,900 UĂŠ , / É" É /ĂŠ 1-/, ĂŠĂŠ SPACES FOR LEASE fn°ääĂŠqĂŠÂŁ{°ääĂ‰ĂƒÂľĂŠvĂŒ UĂŠ ĂŠ+1 /9ĂŠ-/, / ĂŠ" ÊʇÊ Ă“]{ääĂŠĂƒÂľĂŠvĂŒĂŠ .....................................................$629,000 UĂŠ -/, / ĂŠ" ĂŠ ",ĂŠ- ĂŠ 2nd oor vacant 2,200 sq ft ... $249,900 3rd oor leased 2,200 sq ft ...... $254,900 UĂŠ ĂŽ]ĂˆääĂŠ-+ĂŠ /ĂŠ, / ĂŠ 1 ĂŠ On .28 ac, Comox ................... $925,000 UĂŠ 1 / ‡/ /ĂŠ " , ĂŠ 8873 sq.ft. Courtenay ...........fÂŁ]Ιx]äää UĂŠ ĂŽ]äääĂŠ-+ĂŠ /ĂŠ, / ĂŠ 1 ĂŠ On ½ ac, Courtenay ................. $925,000 UĂŠ ÂŁ]{ĂˆäĂŠ-+ĂŠ /ĂŠ, / ĂŠ 1 ĂŠ On .23 ac, Cumberland ........... f{nä]äää UĂŠ£°ĂˆäĂŠ ĂŠ 1 / ĂŠ 9ĂŠ°°°°°°°°°° $695,000 UĂŠ°Ă‡ÂŁĂŠ ĂŠ "7ĂŠ, - ĂŠ */ĂŠ°°°°°°°°°°°fnxä]äää UĂŠ£°ĂˆĂ‡ĂŠ ĂŠ " , ĂŠĂŠ°°°°°°°°°°fnĂ“x]äää

Rob Samsom

AACI CCIM FRI PERSONAL REAL ESTATE CORPORATION

1-888-829-7205 Victoria

www.robsamsom.ca

RE/MAX Ocean Pacific Realty

A22 Vancouver Island

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

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

CASTLE COVE Fine Dining & Income Potential

Home is located on a secluded sandy bay within walking distance of Chemainus, Vancouver Island, home of world famous murals and dinner theatre. Accessible by boat or road. On sewer and water only 1 hour drive from Victoria. Presently a private home with three suites used as a holiday house with great potential for a luxury resort with ďŹ ne dining. 180’ beach front with 240’ views. Great for swimming and boating. A unique castle style home sitting on the ocean’s edge, very quiet and private. $2,330,000 DAWN SNELL OfďŹ ce(250) 246-4966 Direct Line: (250) 246-0331 www.dawnsnell.com WEST COAST REALTY

TOFINO DEVELOPMENT PROPERTIES 1 Acre )JHIXBZ BOE XBUFSGSPOU PO 5PžOP *OMFU 4UVOOJOH WJFXT $1,000,000 60 Acres 5PžOP *OMFU NPVOUBJO WJFXT $5,000,000 20 Acres 'SPOUJOH 1BDJžD 3JN )XZ (SFBU FYQPTVSF $1,875,000

www.judygray.com

NANAIMO | VANCOUVER ISLAND DEVELOPMENT AND INVESTMENT OPPORTUNITIES MOTEL NEAR DEPARTURE BAY FERRY REDEVELOPMENT OPPORTUNITY! 21 Units plus Owner's Residence. Designated for 6 Storey Commercial OfďŹ ce / Residential Mix. The site is perfectly located wih great access and Hwy Exposure. Enjoy current income while planning a higher and better use for the site!

Asking $1,500,000 Call DARWIN for info.

NEW ON THE MARKET 47 unit rental investment Apartment Block. Substantially renovated. Few vacancies, excellent management, elevator for handicap tenants. One of the best rentals in this particular City. ASK @ 8.5% Cap.

Call ROB for info.

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OCEAN & CITY VIEWS! 12.4 ACRE SITE DEVELOPMENT OPPORTUNITY 10 RES. LOTS PLUS 26 LUXURY TOWNHOMES. Located in an upscale residential neighbourhood close to Vancouver Island University. This RS-8 site has all necessary designs, plans, reports & approvals in place. The Development Permit is ready to be issued after conďŹ rmation or any modiďŹ cations a new Purchaser may want. All services & approvals are available to be in construction this year! Call DARWIN for info.

WATERFRONT COMMERCIAL DEVELOPMENT ONE OF THE LAST ON LAKEFRONT! Commercial re-zoning allowed, excellent hwy visibility and ease of access via parallel side business road. Unique older home on site would allow conversion to medical or other professional ofďŹ ces. Call DARWIN or ROB for info.

MULTI USE DEVELOPMENT SITE

UNIQUE BUSINESS AND PROPERTY OPPORTUNITY FOR A JOINT VENTURE REQUIRED FOR A LEADING HATCHERY One of the best Hatchery establishments on the Southern B.C. Coast. Excellent location offering perfect conditions for product success. Over 25 years of husbandry make this operation a leader in its ďŹ eld. Hatchery occupies 12 freehold waterfront acres on a spectacular lake on Central Vancouver Island. All foreshore leases, water licenses and required permits are in place. Business involves all aspects from wild salmon enhancement, egg development and shipment to Asian destinations, and the raising of smolts for various specialty sea farm operations. Further detailed information is available for qualiďŹ ed investors.

Call ROB for info. OUTRIGHT PURCHASE OR POSSIBLE JV OF A UNIQUE AQUACULTURE SEA FARM

Turnkey facility waiting to be restarted into production. Excellent location in the Barkley Sound, PaciďŹ c Rim area of the West Coast. This location for a Sea Farm is noted as one of the best. Expansion possible EXCLUSIVE LISTING - CAREFREE INVESTMENT to other neighboring areas to create a nucleus of farms. Consultation 16 UNITS! 6 yr. old Apt./Townhome project in Port Alberni. Fully available to train staff, workers and manager in all operations of the sea leased to Gov't. Agency. $1,797,000 Additional adjoining land farm. All permits in place. Currently priced for an outright sale @ 35% for further development is also available. Located in the best part of that of a new facility. JV will depend on investment required. of Port Alberni next to North Island College & other amenities.

Asking $2,800,000 Call DARWIN for info.

Asking $550,000 Call ROB for info.

Darwin Mahlum Robert Borden

250.760.1066

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Great development potential in the rapidly expanding area of Chase River in South Nanaimo. 8.91 acres, 4.3 acres usable, higher density residential and Commercial uses. Adjacent to Highway 19A. Easy access.

Call ROB for info.

Vancouver Island's Leader. DEVELOPMENT, LAND, RES/COMM PROJECTS, & MARKETING

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A23

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

FEATURE Competitive bids keep construction costs in check but budgets still tight and lenders cautious

PETER MITHAM WESTERN INVESTOR onstruction costs have eased off the historic highs reached at the peak of the construction boom three years ago, but a competitive labour market, rising commodity prices and green initiatives are combining to ensure companies keep construction budgets lean.

$

The anecdotes tell the tale. A four-storey wood-frame residential building in Abbotsford recently attracted 220 bids from subtrades, while speakers at the annual forecast luncheon the Urban Development Institute (UDI) hosted in Vancouver in January pegged lumber costs as a concern as developers opt for material cheaper than concrete to attract buyers. Rising commodity prices – especially for steel and oil – will also make themselves felt. Ryan Beedie of the Beedie Group, a Burnaby developer that has traditionally built industrial space but is currently sizing up some residential projects, told the UDI audience that he expects moderate increases this year, unless the harmonized sales tax (HST) is eliminated and the old provincial sales tax (PST) returns. “I think we’re projecting a 3 per cent to 3.5 per cent construction cost increase, labour will probably be 2 per cent, 2.5 per cent,” Beedie said. “[But] if HST is voted down and we go back to the old PST it will be very unfortunate, so I’ll call it 6 per cent, 6.5 per cent.” The frontline view is tempered by Mark Hutchinson, a senior cost consultant with the Altus Group who addressed the UDI at the end of February. Speaking toWestern Investor earlier in the month, he called for a more moderate

2 per cent to 3 per cent increase in constructions costs thanks to a mix of factors. While some materials will rise in cost, he said there’s substantial competition when it comes to cement prices; in addition, a competitive labour market will ensure builders have leeway on labour costs. “It’s really only material prices that are seeing upward pressure, and then not every material,” Hutchinson said. “It isn’t all quite doom and gloom. ... It’s incredibly keen out there.” The conditions make for an ideal time to build. Residential builders are especially favoured, and may be able to take advantage of advances in housing prices to broaden their margins. Hutchinson noted that many of the projects that are going forward are ones that were previously shelved. This has given builders the leisure to channel projects to the market as needed, and as the pro formas make sense. “It’s crucial that developers use absolutely bangup-to-the-date market information,” he said. Competitive pressures are also evident in the labour market, which has contracted significantly. Statistics indicate higher employment in the Lower Mainland at the end of 2010 over 2009, but construction still led a slump in employment through the winter months. The prospect of projects ending this spring that were funded by government stimulus cash also promises to free up workers. While the same contractors and subcontractors are handling jobs, they’ve now got the pick of the market. On the other side, subtrades are required to be nimbler and smarter on bids to the limited work that is available. “There is still quite considerable slack in the labour market,” Hutchinson said. He considers the return of competition to the market as the recovery gathers steam a good thing because

Four-storey wood-frame residential building attracted 220 bids from sub-trades

Photo: Roofing BC

-FBO MBCPVS

Building in Kelowna: construction costs will rise sharply if the HST is killed, some warn.

it forces companies to hone their offerings to meet current demands. “We’re in a change, I don’t think anybody expects the world to go back to how it was,” he said. “So how do you survive in a market like this? You adapt, you innovate.”

(SFFO DPTUT

One innovation that’s gained pace through government-backed projects is sustainable building, typically accredited through LEED (Leadership in Energy and Environmental Design), which encourages local buying. Hutchinson speculated that this has helped keep some costs low, but others fear the impact a green imperative is having on costs for private projects. During a recent discussion at the commercial real estate association NAIOP, considerable resistance was voiced to municipalities increasing the green requirements for buildings that also face a competitive leasing market. “We’re all running off on this idea that sustainability is important,” said Rob Gritten, a principal in the Vancouver office of Avison Young specializing in industrial real estate. “I do think it’s important but I do think it needs to be put in context. And forcing developers

to incorporate sustainability features in their building that I don’t think are properly thought out I think is going to be a big problem going down the road.” Green roofs have been one of the contentious features on projects in Port Coquitlam, and prompted pushback from the Beedie Group on requirements for the Brewers’ Distributor Ltd. warehouse. A green roof was incorporated only for the office component, in order to make the economics of the 400,000-square-foot project work, but others haven’t been so lucky. Three projects in which Darren Cannon, a senior vice-president with Colliers International, was involved have been approached to incorporate green walls. “Where does it end? There’s a serious disconnect there,” he said. “There’s a few things you can put in a building that’s not going to run the cost, but at the point that it starts to become not financially feasible, that’s when tenants are going to start to not want green roofs.” And that’s even with construction costs down 10 per cent to 15 per cent from their highs. The conservative attitude is present even in the office market, where capital budgets remain tight and lenders cautious.◆

7BODPVWFS *TMBOE

ED HANDJA PERSONAL REAL ESTATE CORP.

www.bcoceanfront.com

* i\Ê£ nää xÈÎ ÇÎÓÓÊUÊ i \ÊÓxä ÓnÇ ä䣣ÊUÊi` > ` >JLV Vi> vÀ Ì°V

OCEANFRONT ACREAGE 3.42 acres, approx. 450 ft of waterfront, great privacy with a large well maintained 3600 sq ft home. Southeast exposure with great views and marine traffi c to watch. Subdivision possibility in to 2 parcels without compromising the privacy. PRICED AT $1,500,000

ALERT BAY, ORCA INN 2 titles totalling almost half an acre with amazing unobstructed marine views. 7300sqft building with owner’s suite, 5 hotel rooms & 49-seat restaurant, 35-seat pub & a Beer & Wine Store that currently is not open. Extensive upgrades include: new fire suppression system, 4 monitored security systems & renovated bathrooms. An affordable West Coast business opportunity. $450,000

SAYWARD, CYPRESS TREE PUB 3500sqft building & fi rst-rate business situated on 1.74 acres at the main highway junction in the Sayward Valley on Vancouver Island, consisting of a pub with attractive décor & separate family restaurant. A popular area with tourists from around the world & the only year round business of its kind in this region! Beer & Wine License! Steady growth & excellent potential! $1,100,000

PORT HARDY, SEGATE HOTEL Rare opportunity to acquire a premier commercial oceanfront and semi-oceanfront downtown development property. 4.16 acres in 4 titles adjacent to the government dock. The original hotel and pub buildings are under demolition order and an additional 4 storey hotel structure is currently not functional but may be a restoration candidate. Prime location! Court ordered sale. $995,000

QUADRA ISLAND, VILLAGE SQUARE 1.6 commercially zoned acres with 511ft of road frontage & an 11,070sqft 3-level plaza with a great cross section of tenants including the only Petro Canada self-serve fuel station on the island & 4 residential suites. There is a drilled well & water storage system as well as a sewer system, septic field, extensive parking & grassed areas at the back of the property. $1,285,000

NANAIMO

Full Property Management Services (Residential and Commercial) including Facility Management Services on Vancouver Island and in Prince Rupert, B.C.

Contact Dale Schuss

1-250-658-8060

PETER GALLACHER

dale.schuss@randallnorth.ca

1-800-779-4966

www.randallnorth.ca

pgallacher@coastrealty.com

Courtenay Development Property ~ $850,000 ~ 2.6 acres, Approaching approval for a 42 unit town house development. Courtenay Development Property ~ $2,600,000 ~ 9 acres presently being rezoned to accommodate a 106 unit condo development in 3 separate phases. Courtenay Development Property ~ $899,900 ~ 3.06 acre parcel with C2A zoning allowing for a multitude of different uses. Very high traffic location. Commercial Opportunity ~ The Cumberland Hotel ~ $599,000 ~ 150 Seat Pub/Restaurant/Residential Rental. Lots of upgrades over the past few years and potential for future growth. DON HUGHES Cell 250.897.4640 RAY FRANCIS Cell 250.898.9922 Office: 1.877.216.5171 - 2230A Cliffe Ave, Courtenay, BC www.AccessComoxValleyRealEstate.com

A24 Vancouver Island NT

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

VancouverIsland OPPORTUNITIES

E INVOERSTTM NITY U OPP

" Villa Madrona " Magnificent Vancouver Island Oceanfront Estate villamadrona.ca

$479,900 U°Ç£Ê>VÀiÊ ` }Ê ÌÊÜ Ì Ê`Õ« iÝÊ UÊ" iÊ ÌÊvÀ ÊÜ> Ê Vi> ÊvÀ Ì UÊÓÎÎäÊõ°ÊvÌ°ÊÜ Ì ÊÎÊLi`Ê> `ÊÓÊLi`ÊfÓ]äÓxÉ °

BETTY-ANN HUBERTS MARILEE KROGEL

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COMOX VALLEY, VANCOUVER ISLAND ICI: COMMERCIAL STRATA UNIT -1170 s.f. unit with 3 phase power -Retail entry, workshop rear with 12' door -Mezzanine which can be conv. to residential Asking $230,000 SIGN BUSINESS -Established 17 years in the same location -Client list included -Includes inventory (est $2500) Asking $39,900 GROCERY STORE/BAKERY WITH RESIDENCE -Desirable Bates Beach area -Nearest competition 3.5 km -Separate bakery & store businesses down -3 bdr residence up -Includes ½ acre, 3100 s.f. bldg, garage, sheds. Asking $399,000

ASKING PRICE $1,850,000

SEMI-WATEFRONT CONDO SITE

COMOX VALLEY s 0RIME FOR DEVELOPMENT OF ,UXURY 3UITES s !DJOINING WATERFRONT WALKWAY s $ESIGNS ALREADY APPROVED s #LOSE TO ALL AMENITIES PARKS GREEN SPACE RESERVES SHOPPING Did I mention the WATERFRONT!!!

Dale McCartney 1-800-638-4226 Ray Pellerin 1-800-377-4374

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Luxurious Waterfront Estate of Exceptional Quality and Design known as ‘Villa Madrona’. Sited close to the ocean the residence of four bedrooms being 11,000 sq ft (1022 sq.m), Guest House 3,461 sq ft (322 sq.m) and studio apartment. Indoor swimming pool/conservatory, theatre, gym, games and entertainment rooms, sports court, large patios, greenhouse, garaging for 8 vehicles, boathouse and an excellent private beach. Set in a secluded and beautifully landscaped & treed tranquil two acre (.81 ha) gated property with 400 ft (122 m) of prime oceanfront. Westerly exposure with very impressive expansive marine views. Situated on the Saanich Peninsula in the District of North Saanich on Satellite Channel being easily accessible from Vancouver and only 35 minutes from Victoria. Further information, photos and video see our website villamadrona.ca

Peter Nash | 250.384.0566 (d) 877.388.5882 (t) realestate@peternash.com www.peternash.com

Victoria

COMMERCIAL STRATA DOWNTOWN COMOX -High pedestrian/car traffic location with huge street frontage -840 s.f. in prestigious Comox Quay Asking $319,000 MATERNITY BUSINESS -Also sells infant, children’s wear, carriers & consignment -Exclusive rights to Beco Baby Carriers, & Skip Hop products -Busy main street location in downtown Courtenay Asking $49,900

ROB PHILLIPS R. MIKE MULLIN, CGA TF: 1-800-715-3999 TF: 1-855-650-6560 Email: mullin@telus.net Cell: 250-897-8508 rob@robphillips.ca www.robphillips.ca Comox Valley www.coastrealty.com

VANCOUVER ISLAND COMMERCIAL www.nanaimoremaxcommercial.com

1-877-335-4380

Jay Cousins Realty

FOR SALE

Jay Cousins jay@jaycousins.com

Frank Johnson frank@remaxofnanaimo.com

www.nanaimoremaxcommercial.com

1-877-423-0984

INVESTMENT OPPORTUNITIES

INVESTMENT OPPORTUNITIES

INVESTMENT OPPORTUNITIES

UÊÊ FULLY RENOVATED & REDESIGNEDÊqÊÓ]ÎnäÊ-µ°Ê Ì°ÊLÕ ` }Ê ÊÓÊ iÛi ÃÊÌ >ÌÊV> Ê>VV `>ÌiÊ>ÊÎxÊÃi>ÌÊÀiÃÌ>ÕÀ> ̰ʺ ÃÊ Ã»ÊÃ> iÊ V Õ` }Ê> ÊÀiÃÌ>ÕÀ> ÌÊiµÕ « i Ì]Ê ÀÊÜ Ê vviÀÊLÕ ` }Ê EÊ > `Ê Ü Ì ÕÌÊ iµÕ « i Ì°Ê "«« ÀÌÕ ÌÞÊ Ì Ê i>ÃiÊ >Ê « Ãà L ÌÞ Ê $419,000

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8 ÓÊ > ÜÃÊ v ÀÊ >Ê Ü `iÊ À> }iÊ vÊ ÕÃiÃ°Ê v Ê * ÀÌv Ê Û> >L iÊ $1,495,000 UÊ -1

-- 1 Ê , ]Ê ÊEÊ , 7 , Ê 1- --Ê Ê Ê - ÊqÊ >À`Ü>ÀiÊ> `ÊLÕ ` }ÊÃÕ«« ÞÊ «iÀ>Ì °Ê Ê LÕ ` }ÃÊ ÊÓ°ÈxÊ>VÀiÃ°Ê ÝVi«Ì > ÊÃ> iÃÊÛ Õ iÊÌ >ÌÊV Ì ÕiÃÊÌ Ê}À ÜÊ> Õ> Þ°Ê Ûi Ì ÀÞÊÌ ÊLiÊ«ÕÀV >Ãi`ÊÃi«>À>Ìi ÞÊ ÊV « iÌ °Ê w`i Ì > ÌÞÊ }Àii i ÌÊ ÕÃÌÊLiÊà } i`° Ê $2,075,000

UÊÊ "/ ]Ê 1 ]Ê ÊÎÓÊÕ ÌÊ Ìi ÊÜ Ì ÊÀiÃÌ>ÕÀ> ÌÊ ÊÌ iÊ

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Ü V > Ê-« ÀÌÃÊ « iÝ]ÊÌ iÊ Ü V > Ê/ i>ÌÀi]Ê> `ÊÌ iÊ,iVÊ V Õ`iÃÊ £ä½Ê 8Ê Îä½Ê vv ViÊ L i°Ê -i iÀÊ >ÞÊ i ÌiÀÌ> Ê i>ÃiÊ JÊ

i ÌÀi°Ê REDUCED TO $1,550,000 fÎ]xääÊ«iÀÊ Ì Ê« ÕÃÊÌ>ÝiÃÊ $595,000 UÊÊÊ /Ê 1-/, Ê Ê Ê 1 Ê*" /Ê Ê£°nÎÊ>VÀiÃÊ vÊ > `]Ê V>Ìi`Ê ÊÌ iÊ Õ iÊ* ÌÊ `ÕÃÌÀ > Ê*>À °Ê >À}iÊv >ÌÊ Ì]Ê UÊ FOR SALE OR LEASE – HUGE 11,500 SQ FT WAREHOUSE Ì >ÌÊ ÃÊi>ÃÞÊÌ Ê`iÛi «Ê> `ÊV ÃiÊÌ ÊÌ iÊ Ê iÀÀÞÊ/iÀ > Ê>ÌÊ V Õ`iÃÊ>ÊÈ]ÈääÊõÊvÌÊ iââ> i°Ê V Ê iÛi Ê >` }Ê` ÀÃ]Ê`À Ûi

Õ iÊ* Ì°Ê*ÕÀV >ÃiÊÌ iÊÛ>V> ÌÊ Ì]Ê ÀÊÌ iÊ Ü iÀÊÜ ÊLÕ `ÊÌ Ê Ê}À>`iÊ iÛi Ê` À]Êvi Vi`ÊÞ>À`]Ê ViÊ vv Vi]Ê Ýi`ÊÕÃiÊÜ Ê> ÜÊ ÃÕ ÌiÊÕ«ÊÌ ÊÎx]äääÊõvÌÊ vÊÜ>Ài ÕÃiÉ vv ViÊë>ViÊv ÀÊ i>ÃiÊ ÀÊ Ã> i°Ê , -/ 9Ê , 1 Ê $499,900.00Ê "7 ,Ê - 9-Ê V iÀV > ÊEÊ Õ Ì v> Þ]ÊLÕÌÊ}À> `v>Ì iÀi`Ê `ÕÃÌÀ > ÊÕÃiÊÃÌ Ê - t Ê« >ViÊÊ $899,000 UÊ 7 Ê "7 Ê*",/Ê , Ê , Ê 1 ÊqÊ

ÕÀÀi Ì ÞÊÕÃi`Ê>ÃÊ vv ViÃÊEÊÕ Ê > ]Ê>««À Ý°ÊÈ] äÊõ°ÊvÌ°Ê ÛiÀÊÎÊ v ÀðÊ*£Êâ }ÊLÕÌÊV Õ `ÊLiÊV iÀV > ÞÊÀiâ i`°Ê v À >Ì Ê « ÀÌv Ê>Û> >L i $995,000 U / / Ê 1-/, Ê 1 Ê ",Ê- Ê Ê£Ó]£äÈÊ UÊ /Ê 1-/, Ê <" Ê " * 8Ê qÊ - Ê } ÌÊ `ÕÃÌÀ > Ê­ Ó®ÊLÕ ` }Ê Ê>Ê£Ê>VÀiÊÃÌÀ>Ì v i`Ê Ì°Ê"Ü iÀÊ – ÝVi i ÌÊ ÀiÛi ÕiÊ «« ÀÌÕ ÌÞÊ VÕÀÀi Ì ÞÊ }i iÀ>Ì }Ê Ê iÝViÃÃÊ Ü Ê i>ÃiÊL>V Êv ÀÊxÊÞi>ÀÃ°Ê ÀÊV ` Ì i`Ê£]ÇÈxÊõvÌÊ vv ViÊ vÊ f£È{]äääÊ > Õ> Þ°Ê Ã > `Ê } Ü>ÞÊ iÝ« ÃÕÀi]Ê i>ÃÞÊ >VViÃÃ]Ê Ã«>ViÊÜ Ì Ê>ÊÃ> iÃÉÀiVi«Ì Ê>Ài>]ÊÌÜ Ê vv ViÃ]Ê>Ê Õ V À ]Ê ÈÊ LÕ ` }ÃÊ Ê Ì Ì> ]Ê > Ê Ê Ó°nnÊ >VÀiÃ°Ê ÕÀÀi ÌÊ Ài Ì> Ê À>ÌiÃÊ Ü Ì Ê > `ÊÌÜ ÊL>Ì À Ã°Ê V>Ìi`Ê Ê ÀÌ Ê > > ]ÊÜ Ì Êi>ÃÞÊ Û>V> V iÃÊv i`ÊÜ Êà ÜÊ i>À ÞÊn¯Ê *ÊÀ>ÌiÊÊ $1,895,000 >VViÃÃÊ Ì Ê LÕÃÊ À ÕÌiÃ]Ê > `Ê > ÀÊ ÌÀ> ë ÀÌ>Ì Ê V ÀÀ ` ÀÃ°Ê Ê $1,890,000.00 UÊ 1 / / / Ê 69Ê 1-/, Ê*,"* ,/9ÊÊ qÊ *>À ÃÛ iÉ ÀÀ }Ì Ê >Ài>°Ê Ê È°ÓÊ VÀiÃÊ «>ÀÌ > ÞÊ `iÛi «i`Ê Ü Ì Ê • 7Ê" Ê/ Ê , /]Ê 1 / 9Ê, / Ê1 /- Ê iÜÊÜ>Ài ÕÃiÃ]Ê iÜÊ{ÊÕ ÌÊ Õ Ì ÀiÃÊÜ À É ÛiÊë>Vi]Ê iÜÊ vv ViÊ

i ÌÀ> Ê > > °Ê > vÊ`Õ« iÝiÃÊ> `ÊvÀiiÃÌ> ` }Êà } iÊ LÕ ` }Ê« ÕÃÊiÝ ÃÌ }ÊLÕ `ÊÌ ÊÃÕ ÌÊÌi > ÌÊ Ê« >ViÊ Ê£Ê>VÀiÊ« ÀÌ Ê v> ÞÊ iÃ°Ê ÎÊ Li`]Ê ÎÊ ¤Ê L>Ì ]Ê £ÇÈäÊ Ãµ°Ê vÌ°Ê Ì Ê £n äÊ Ãµ°vÌ°Ê V Õ`i`\ÊÌ iÊ> `Ê >À`Ü `Êv À }]ÊVÕÃÌ Ê> `iÀÊV>L iÌÀÞ]Ê ÜÉ«>Ûi`ÊEÊÃiVÕÀ ÌÞÊvi Vi`Ê>Ài>°Ê ÕÀÌ iÀÊÓ°xÊ>VÀiÃÊ ivÌÊÌ ÊV Ì ÕiÊ }À> ÌiÊV Õ ÌiÀÌ «Ã]ÊÈÊ>«« > ViÃ°Ê ÊLi`À ÃÊ >ÛiÊ>Ê«À `iÛi « i ÌÊ« > °Ê* Ìi Ì > Ê V iÊÕ `iÀÊVÕÀÀi ÌÊV v }ÕÀ>Ì Ê Ê Û>ÌiÊi ÃÕ ÌiÊÜ Ì Êà ÜiÀÊ> `É ÀÊÌÕL°ÊÊ fÎÓ ] ää fÎ{ ] ää iÝViÃÃÊ vÊf£È{]äääÊ> Õ> Þ°Ê REDUCED $1,950,000

FRANK JOHNSON

of Nanaimo

JAY COUSINS

EÊ > > °Ê"«iÀ>Ì }Ê ÛiÀÊ£xÊÞi>ÀÃ]ÊEÊ >ÃÊ ÃÌ> ÌÊLÀ> `Ê>Ü>Ài iÃÃÊ ÃÊi`ÕV>Ì Êv i `°Ê ÝVi«Ì > Ê V iÊ «« ÀÌÕ ÌÞ]Êv > V > Ê` iÌ> ÃÊ Ü Ì ÊV v `i Ì > ÌÞÊ>}Àii i ÌÊÃ } i`Ê $479,000

UÊ FOR SALE OR LEASE – INDUSTRIAL PROPERTY Ê ÃiÊÌ Ê ` Ü Ì Ü Ê > > ÊEÊâ i`Ê ÓÊ> Ü }Ê > ÞÊÕÃiðÊÇ]ÓääÊ-µ°Ê Ì°Ê Ü>Ài ÕÃiÊ ÛiÀÊÓÊ iÛi ðÊ,iVi ÌÊÀi Û>Ì Ã]Ê>ë > ÌÊ«>Ûi`ÊvÀ Ì]Ê Ã `iÊEÊÀi>ÀÊÞ>À`Ã]Ê« ÜiÀÊ ÃÊ{ääÊ> «]ÊÌ ÀiiÊ« >Ãi°Ê ÃiÊÌ Ê } Ü>ÞÊ >VViÃðÊ1««iÀÊv ÀÊVÕÀÀi Ì ÞÊ i>Ãi`ÊÌ Ê }ÊÌiÀ ÊÌi > Ì°Ê > Ê iÛi Ê >Û> >L iÊv ÀÊ i>ÃiÊ>ÌÊfn°ääÊ«iÀÊõ°ÊvÌ°Ê« ÕÃÊ/ °Ê $699,000

UÊ , /Ê 8*"-1, Ê" Ê - Ê 7 9Ê qÊ > > Ê Ê Ó]ΣÓÊ-µ°Ê Ì°ÊLÕ ` }Ê Ê°Ó Ê vÊ> Ê>VÀi°Ê £ÎÊ< }Ê> ÜÃÊ Ì ÃÊ vÊ ÕÃiÃÊ V °ÊÀiÌ> ]ÊÀiÃÌ>ÕÀ> ÌÃ]Ê ÊÃÌ À>}i]ÊÀiVÀi>Ì > Êv>V Ì iÃÊ ÀÊ REDUCED $875,000 Ûi V iÊÃ> iÃÊEÊÃiÀÛ Vi°ÊÊ

UÊ "/ ]Ê +1",Ê-/", ÊEÊ*1 Ê Ê*",/Ê , Ê £Ê Êëi ÌÊ Ê ÊÀi Û>Ì ÃÊÌ ÊÕ«`>Ìi°Ê*À «iÀÌÞÊEÊLÕà ià ÃÊ >Û> >L iÊÓÊÃi«>À>ÌiÊ«À v ÌÊVi ÌÀiðÊÊ*ÕLÊEÊÀ ÊÀi Ì> ÊLÕà ià ÃÊ « ÕÃÊ µÕ ÀÊ-Ì ÀiÊ>Û> >L iÊv ÀÊ$690,000ÊÜ iÊi Ì ÀiÊ«>V >}iÊ ÃÊ ÜÊ>Û> >L iÊv ÀÊ$1,590,000°ÊÊ v Ê« ÀÌv Ê>Û> >L i° UÊ ££Ê1 /Ê * ,/ /Ê " Ê qÊÓÊ i}> Ê ÌÃ]Ê Ài>ÌÊ Vi> Ê Û iÜÃ]ÊVi ÌÀ> Ê > > Ê V>Ì ]ÊiÝÌi à ÛiÊÀi Û>Ì ÃÊ Ê >ÃÌÊviÜÊ Þi>ÀÃ]Ê v Ê«>V >}iÊ>Û> >L i°Ê $1,088,000 UÊ 28,000 SQ. FT. OFFICE ÊqÊ7 , "1- Ê " * 8Ê Ê£°xÊ VÀiÃ°Ê } ÌÊ `ÕÃÌÀ > Êâ i`]Ê } ÊÛ Ã L ÌÞÊ V>Ì ]ÊVÕÀÀi Ì ÞÊ xÊÌi > V iÃÊ Ê« >Vi]Ê Õ Ì « iÊL>ÞÃÊEÊ ÛiÀ i>`Ê` ÀðÊ,iÛ i ÕiÊÊÃÌÀi> É À« À>ÌiÊ«À v À >Ê V iÊÃÌ>Ìi i ÌÊ>Û> >L iÊÊ Ê REDUCED $1,950,000 UÊ - ",-Ê , Ê /9Ê qÊ "Ê "-* / Ê , ÊqÊ *ÓÊ< }Ê> ÜÃÊ ÃÌ ÌÕÌ > ÊÕÃiÃÊ ÀÊÀiâ }ÊÌ Ê Õ Ì ÀiÃÊ V> ÊLiÊV à `iÀi`°Ê Õ ` }ÊEÊ > `Ê `i> ÞÊ i `ÃÊ ÌÃi vÊÌ ÊV }Ài}>ÌiÊV>Ài]ÊÃÌÕ`i ÌÊ Õà }]Ê ÀÊ ÃÌi ÊÕÃiÃ°Ê Õ ` }Êà âiÊ Ã Ê {{]ÓxxÊ-µ°Ê Ì°Ê Ê£°nÇÊ VÀiÃÊ $4,500,000

S O LD

JAY COUSINS

qÊ" iÊ ÃÊ>Ê Ì i>ÌÀiÊLÕ ` }Ê Ê°Î{Ê vÊ> Ê>VÀiÊv ÀÊf{{ ]äääÊ> `ÊÌ iÊ Ì iÀÊ ÃÊ>Ê£ÊÃÌ ÀiÞÊ vwViÊLÕ ` }Ê Ê°ÎÇÊ vÊ> Ê>VÀiÊv ÀÊfÈÓ ]äää°ÊÊ Ì Ê>ÀiÊâ i`Ê £Ê i iÀ> Ê iÀV > °Ê > Ê ÀÊi > Ê -Êv ÀÊ «>V >}i°

UÊÓÊ " , Ê 1 -Ê Ê 1

BUSINESSES UÊ iÀ iÊ À > Ê Ã iÌ VÃÊ À> V ÃiÊqÊ > «Li Ê, ÛiÀÊ$75,900 UÊ > > Ê->ÕÃ>}i]Ê > Õv>VÌÕÀ }Ê> `Ê-> iÃÊ $149,000 UÊ Ì iÃÃÊ À> V ÃiÊv ÀÊ7 i ÊqÊ > > Ê $129,000 UÊ-ÜiiÌÊ >VÌ ÀÞÊ À> V ÃiÊ Ê ÀÌ Ê > > Ê > Ê $179,000 UÊ Õ Ê-iÀÛ ViÊ i>ÛÞÊ ÕÌÞÊ,i«> ÀÊ ÕÃ iÃÃÊ $229,000

JAY COUSINS

WESTERN INVESTOR MARCH 2011

Vancouver Island/Business Opportunities A25

Court Ordered Sale 571 Acre View Development Property located in Lantzville just north of Nanaimo. Major work completed. Approval for 590 lots plus residual property. $19,500,000 RE/MAX of Nanaimo

Dave Hammond 1-877-799-6188 dave@thehbtgroup.com

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VANCOUVER ISLAND FARM The magic begins as you wind your way through the trees, toward this very private, serene setting.

and CONSTRUCTION DEALERSHIP ProďŹ table business with 20 employees and 2 highway locations Priced at $395,000 MLS # 288390 Virtual Tours at www.garybazuik.com

Upon your arrival you will marvel at the decks and outdoor settings provided to enhance your enjoyment of this perfect getaway. The 2 bed, 2bath home has been beautifully maintained and refurbished over the years. Just move in and enjoy the sunny exposure, Shawnigan Lake, and the short drive to Victoria or Duncan. GARY BAZUIK 1-866-380-2002 (toll free) baz@garybaziuk.com

$1.6 million plus inventories Option to lease or purchase land

E-mail: islandtractor@shaw.ca Phone: 250-751-8133

COAST CAPITAL

FOR SALE

SALTAIR SELF-STORAGE FACILITY and DEVELOPMENT PROPERTY

TWO PRIME LOCATIONS FOR SALE WITH POTENTIAL FOR CAREHOME OR CONDO SITES

Property is located on 3.61 acres in high-growth area with 42.7 meters of frontage on Chemainus Road. Saltair is situated near Chemainus between Ladysmith and Duncan in the Cowichan Valley.

NEW PRIME RETAIL SPACE FOR LEASE CENTRALLY LOCATED NEXT TO POPULAR RETAILERS SUCH AS CENTRALLY NEXT SHOPPERSLOCATED DRUG MART TO POPULAR RETAILERS SUCH AS SHOPPERS DRUG MART.

COMOX

Storage Business: Offers 110 selfstorage units plus signiďŹ cant outside storage of boats, cars and RVs on approx 1.21 acres. The storage business currently has an occupancy rate of 89%.

One Percent Realty Vancouver Island

Two exclusive major lines, variety of shortlines selling to all of Vancouver Island and gulf islands

LANGFORD CONDO SITE APPROVED FOR UP TO 188 UNITS EXCELLENT LOCATION

Undeveloped Land: Expansion potential with approx 2.4 acres developable land with desirable C2 commercial zoning. OCP designates this area as the principal zone for the community.

LOCATED NEXT TO COSTCO, A SHERATON HOTEL, HOME OUTFITTERS, AND MANY OTHER RETAIL STORES 2.34 ACRES OF POTENTIAL

Please visit our website or call for more details.

monarkinvestments.ca

Monica Love 250.797.2235 2monicalove@gmail.com

42 STRATA SUITES IDEAL FOR GROUP PURCHASE

604-592-7250

Financing Available. Potential Trades.

CAMPBELL RIVER s 3UITES s 3UITES s "OTH ELECTRIC HEAT n TENANT PAYS s "OTH FULL WITH WAITING LISTS s (IGH RATIO ASSUMABLE MORTGAGES AND

PORT HARDY s ,AST OF STRATA TOWNHOUSES s BD BTH s 2ENTS s -AJOR RENOVATIONS COMPLETED s

POTENTIAL ONE MILLION DOLLAR UPSIDE DESIRABLE UPLANDS AREA OF QUESNEL, BC s 3UITE MIX n BD n BD s BD ARE SQ FEET WITH PC BATH STORAGE ROOMS s %XCELLENT RESIDENT CARETAKER s 7ELL MAINTAINED

$2,495,000

8 CAP

Brand New Individual Suite Appraisal $82,000

NANAIMO s 9ACHT #LUB AREA s 3UITES s 3OME OCEAN VIEWS s 2EDUCED TO

To Be Built s UNIT STRATA RENTAL BUILDING s $OWNTOWN .ANAIMO s /CEAN VIEW s #OMPLETION MONTHS

Barry Calvin s 250-758-6767 s 0!#)&)# 2%!,49 '2/50 s barry@paciďŹ crealtygroup.ca 32 Years Apartment Building Specialist for Vancouver Island and All Areas Outside Lower Mainland

A26 Vancouver Island

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

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MAKE MORE DEALS Market your listings in the Western Investor. Thousands of private investors and real estate professionals use the Western Investor to help guide their investment dollars into profitable businesses.

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APRIL AD DEADLINE: MARCH 14TH Report: Franchising & Small Business Venture financing Retail leasing Franchise News Recreational Properties Regional Roundups: BC: Richmond AB: Edmonton MB: Winnipeg Spotlight: Estevan, SK

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WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

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Photo: Frontline Real Estate Services

From: Frontline Real Estate Services , Surrey. Frontline buying agent Jordan MacDonald, with selling agentGlen Yamada From: NAI Commercial, Vancouver. NAI of Royal LePage Coronation West, closed agents Don MacDonald and Todd Bohn the following sale: Deal: 104,500-square-feet of commercial sold the following: Deal: 11,012-square-foot industrial building, land, Gloucester Way, Langley. Price: $1.32 freehold, on 198 Street, Langley. Price: $1.59 million. million. NAI agents Todd Bohn andAngie Macdonald From: SCR Commercial Realty/CORFAC sold the following: International, Edmonton. Deal: 8,600-square-foot industrial building, Deal: 18,220-square-foot office/warehouse 192 Street, Surrey. Price: $1.63 million. building, 1.46 acres on 113 Street, Fort NAI agents Don and Angie Macdonald sold Saskatchewan. Sold for vendor 1199475 Alberta Ltd. to Dorrill Properties Ltd. the following: Deal: 5,100-square-foot retail building on (Millenium III Group of Companies) of Fraser Highway, Langley. Price: $1.18 mil- Saskatoon. Price: $2.5 million. lion. From: Avison Young Commercial Real From: Dundee REIT, Toronto. Dundee Real Estate, Vancouver. AY agentsMichael Keenan and Ben Lutes sold the following: Estate Investment Trust reports: Deal: Dundee purchased the entire assets of Deal: 11,000-square-foot, two-storey retail/ Realex Properties Corp., which includes 15 office building on West Broadway Avenue, office and industrial properties in Alberta, one Vancouver. Price: $3.6 million. property in Fort St. John, B.C., and extensive AY agents Michael Farrel and John

Eakins sold the following: Deal: 60 acres of raw agricultural land, 176 Street, Surrey. Sold under a court-ordered sale. Price: $4.8 million. From: Macdonald Commercial, Vancouver. Mark and David Goodman sold the following: Deal: 22-suite apartment building, East 14th Avenue at Main Street, Vancouver. Sold to an offshore Chinese buyer for $245,454 per suite. Price: $5.4 million.

Recently completed a major commercial 104,500-square-foot commercial lot, real estate deal? Send details for a free report Gloucester Way, Langley, sold for $1.32m. here to: wieditor@biv.com

Photo: Avison Young

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commercial holdings in Ontario. Price: $154 million.

Photo: Avison Young

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

60 acres of raw agricultural land in South Surrey sold for $4.8 million.

11,000-square-foot commercial building on West Broadway sold for $3.6 million.

7BODPVWFS *TMBOE MT WASHINGTON PACKAGE 15 Fully Serviced Ready to Go Freehold Building Lots Great Builder Opportunity Priced at Cost Call

•Two well established Curves franchises in Victoria, BC •Curves is the largest women's only fitness franchise in North America •Shining Star Clubs in high traffic areas of large territory

•Profitable, turn key operations. •Join one of the world’s most successful franchise companies •Discover the basics at www.curves.com Priced to Sell! only $199,000

Glenn Moore, Associate C21 Advantage Commercial

250.380.4900 | lefevre@lefevregroup.com

Phone: 403-346-6655 • Fax: 403-341-7813 Email: glenn@advantagecommercial.ca

NANAIMO & VANCOUVER ISLAND PROPERTIES

Ê Ê- ",// Ê / Ê, É 8Ê" * " FORECLOSURE COURT ORDERED SALES 3 ACRE TOWNHOME DEV SITE Stunning ocean view up to 30 units. $995,000 26 UNIT CONDO DEVELOPMENT SITE Fabulous ocean views. 1 acre. Financing available. Approved plan with city. $748,000 FORECLOSURE OCEAN VIEW DEVELOPMENT 9 Acre, 28 lot subdivision in Chase River Quiet neighbourgood property is beautifully treed And would accommodate 28 single family homes or small lots. Mortgager may finance. Trades welcome. Foreclosure Price: $995,000

DEVELOPMENT SITES JUST LISTED; FANTASTIC OCEAN VIEW RM-5 Dev site, unrestricted views, overlooks cruise ship pier. Approved for 34 condos, No DCC’s. $729,000 PANORAMIC OCEAN VIEW DEV. SITE 24 Lots approved residential subdivision property Cost estimates available. Asking $1,475,000 140 ACRE DEV. SITE Nanaimo $3,990,000 “NANAIMO’S BEST DEV SITE” 9 acres park like setting. Plan for 28 detached smaller homes. $988,000 DUPLEX LOT $129,000

4 PLEX LOT $199,000

UNBELIEVABLE SETTING 23 ACRES $459,000 50 ACRES, $995,000 43 ACRES $859,000 Adjoining properties, 1 mile from city limits, Zoned for 5 acre lots

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HOTELS & PUBS FULLY SERVICED HOTEL Recently renovated, 30 rooms, 125 seat pub, wine and beer store. Generating over $1.5 million annually and growing. $1,790,000 NORTH ISLAND HOTEL & PUB, WINE & BEER STORE 50 Rooms and restaurants. 2 lots. Over 3.9 Million annual sales. $2,995,000

INCOME PRODUCING + REVENUE PROPERTIES SECURE INVESTMENT 6 brand new homes, all with legal suites, 2 meters each, 10 yr warranties, separate titles, 5 1/2% CAP, or hold & sell. $2,550,000 NANAIMO DUPLEX 3 bedrooms per side, 2 separate titles. Excellent income. $424,900

HERITAGE APTS & PUB 13 small apartments. 115 seat pub leased. 1 commercial space - leased. Generating over $10,000 monthly. Asking $925,000

5 RENTAL HOMES – All together 5 sep. adj. lots. Starting at $234,900 or all for $1,150,000

HOTEL & WINE & BEER STORE 8 suites, pub. Close to Nanaimo airport. $1,190,000

DISTRESS SALE 71 UNIT APARTMENT BLOCK 4 separate buildings. New Renos. Over $500,000 spent. North Island location. Over $27,000 monthly income. Management in Place. $2,350,000 Now reduced to $1,999,000

FULL FACILITY SUPER 8 MOTEL Central/southern Vancouver Island. High profile Location. 36 rooms, with franchised restaurant that includes 125 seat pub 1.5 acre property. $3,950,000

CONDOS & HOMES PACIFICA OCEAN FRONT CONDOS 38 Front Street Units for sale. Walk-on waterfront townhome $509,000 no HST. Call Dale for other available units. WATERFRONT TOWNHOME 1740 SF 2 bedrooms, hardwood floors, granite counter tops, roof top patio. $599,000 1 BEDROOM PLUS DEN $239,900

DALE SHORTT Bus: (250) 758-3700 U

HERITAGE APARTMENT BLOCK 13 self contained units. 1 commercial space plus lease pub & license. Gross revenue $10,000/month. $925,000 5 PLEX NANAIMO 5 meters, over $4,500 monthly revenue. Covered parking. Storage lockers. Separate meters. Asking $749,500 OCEANVIEW 3-PLEX South Vancouver Island. Excellent Income. 3 separate titles. $369,000

TOLL FREE 1-800-665-8313

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Ocean Pointe

A28

www.westerninvestor.com MARCH 2011WESTERN 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

BUYER/TENANT REPRESENTATION

YOU GET WEALTHY BY STRATEGY

Independent Representation for Buyers or Tenants Have your Commercial Professional source your requirements: Properties, Bylaw Compliance, Investment Analysis, Negotiations. Call or email David!

An example of this is, defer taxes annually into commercial property and let it grow tax free!

INVESTMENT OPPORTUNITY IN

CO

NT

CT RA

YOU CAN LAUGH AT MONEY WORRIES – IF YOU FOLLOW THIS SIMPLE PLAN

VICTORIA - Carefree Net 7% Cap Rate

Quality National Tenant. Full info w/ Confidentiality Agreement $6,750,000 #V4024073Call or email David!

DEVELOPMENT OPPORTUNITY

COQUITLAM For Commercial Ground Level, Apt or

s 3AY GOODBYE TO YOUR BOSS AND come own this turnkey biz in Abbotsford. Sales of books and teacher supplies. Easy biz to learn and owner will train s (AVE A BUYER FOR ACRES IN Mission, BC

Office above 19000 Sq. Ft. Lot – C1 Zone Application in process. Busy location – 1649 - 1665 Como Lake Avenue $1,350,000

s (OTEL )NVESTMENT OPPORTUNITY IN North East BC

INDUSTRIAL OPPORTUNITY

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

rayy@remax.net www.rayyenkana.com (listing details) RE/MAX LITTLE OAK REALTY COQUITLAM High profile end unit off United

Boulevard. 5000 square feet – 3500sf office, 1500 sf. warehouse 2 grade level doors. Leased until June 2012 – CLS # V4024075 For Sale at $925,000

SOOKE, OCEANFRONT $1,155,000

DAVID KEARNEYCCIM 604-942-0606

Toll Free: 1-888-942-0606

CALL ROY MUFFORD

604-533-3491

INVESTOR ALERT

x14 units to choose from xLocated on busy main road xHigh visibility xFrom 746 sq. ft. to 4,654 sq. ft.

xGreat opportunity for business

owners and investors xGet in at ground floor and pick your

spot today

SALE FROM: $183,000 OR LEASE FROM: $8/S. F. TN

PROGRESS WAY INDUSTRIAL PARK BUY OR LEASE SIMILAR

xArchitecturally Controlled xFully Serviced Lots xWill Build to Suit xIndependent or Strata Warehouse for sale or Lease from 2,000 to 500,000 sq. ft. x20 Minutes to US Sumas Border

BU TO ILD SU IT

1 to 20 Acre Development Lots

xLocation: Lickman Rd. Interchange and Hwy 1 Chilliwack Usage: Warehousing, food processing, manufacturing, general commercial and light & heavy industrial uses. Outside storage

FOR SALE IN CHILLIWACK LIVE/WORK OPPORTUNITY xMixed use 3,250 sq. ft. building x4 Bays with in floor radiant and

xSeparate 3 bdrm, 2 bath

separate gas and electric meters xResidential units above

xClose to airport and suitable for

residential unit with 1 bay shop airport related use

SALE $689,900

FORECLOSURE PROPERTY x8,940

sq. ft. building renovated xPriced below appraised value xCompletely

xCourt

ordered sale Industrial Building xWarehouse & Office xLight

SALE $619,000

FORECLOSURE PROPERTY x11,293

xGood

xRetail

sq. ft. lot and office space xLocated Downtown Chilliwack

xPlenty

street exposure of City Parking xRenovated in 2007

SALE $975,000

FORECLOSURE PROPERTY xIdeal opportunity for live/work xProperty is .60 acres xModular home & Restaurant xZoned C2 (HWY Commercial)

SALE $219,900

SALE $177,900

RE/MAX S ABRE REALTY

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. First time offered at $2,198,000

BRAND NEW RETAIL/COMMERCIAL STRATA

xCompletely Renovated xIn Harrison Hot Springs x1,057 sf strata property x Fully Leased- 7% CAP

dkearney@remax.net

SPECTACULAR VIEW 36.4 ACRE PROPERTY – ABBOTSFORD

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

FOR SALE OR LEASE IN CHILLIWACK

INVESTMENT PROPERTY

www.davidkearney.com

RE/MAX SABRE REALTY GROUP

1 ACRE INDUSTRIAL LIVE/WORK PROPERTY 1/2 hour from Victoria this estate property offers almost 5 acres of forest and gardens fronting on a mile of semi private oceanfront. Fabulous buy for land and business. 9 spacious bedrooms with ensuite bathrooms and private outside entrances. Communal areas include coffee bar, 2 kitchens and living room and dining room. All rooms have beautiful fir floors, great group purchase. To view pictures and video go to:

Turn $7 Mill into $25 + Mill. 43ac property Langley. All services at property line, adjacent to existing subdivisions. Call for details

Garth Olson Re/Max Treeland Realty 604-533-3491 realestate@garth-olson.com

www.bedandbreakfastforsale.net Ocean wilderness Inn

PETER BIRRELL 1-800-665-1455 RE/MAX CREST REALTY

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

$1,600,000 KEITH SETTER

604-533-3491

x2,843 sq. ft. 4 Bedroom Home xGreat living space xZoned CD14 - Outside Storage

xLight xIdeal

Industrial/Commercial for Automotive, woodwork, Machine Shop, Warehouse, Distribution

SALE $649,900

INDUSTRIAL LAND 2 LOTS - 1/2 ACRE EACH Zoned M-2 $339,000 EACH 1 LOT - 10.6 ACRES Dual Zoning M-3 & M-4 $4,850,000

Lease from $12$13/sq ft. xWell Located next to new Safeway xSpace available 850 to 7,000 sq ft xOn site parking and good access

Lots are level with compacted gravel base x Offering dual road frontage xManufacturing, distribution, outside storage, warehousing, food processing, etc. x

FOR LEASE Lease from $7.50 to$12/ sq ft. xRetail –2,000 to 2,070 sq. ft. xExcellent exposure xNew tenant incentive

Lease from $6.50$12/sq ft. xOn high traffic corner x806 to 1,900 sq. ft. xWell maintained building

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

OFFICE FOR SALE

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

RE/MAX TREELAND

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