Western Investor March 2011 Section B

Page 1

www.naicalgary.com FOR SALE/LEASE 1499 - 17 Avenue SW Calgary Size - 2,444 sq. ft. Asking Price - $1,000,000 Lease Rate - $26.00 p.s.f.

INVESTMENT SALE Foothills Industrial Calgary 9% Cap Rate - 63,000 sq. ft. - 2.6 acres - 10 year term Daniel Goldstrom Tel: (403) 809-8326 dgoldstrom@naicalgary.com FOR SALE/LEASE 97 Prairie Place SE, Calgary Size - 4.7 Acres Asking Price - $1,699,000 Zoning - Light Industrial

Daniel Goldstrom Tel: (403) 809-8326 dgoldstrom@naicalgary.com

INVESTMENT LAND FOR SALE • Located in an established commercial area, 6 km west of Calgary • Ideal for owner/user • 2.53 acres of development land; last parcel in Cell Subdivision B • Excellent access to trans Canada Highway Shane Olin Tel: (403) 708-9086 solin@naicalgary.com

Deb Wallace Tel: (403) 291-8862 dwallace@naicalgary.com

SOLD Westmount Town Centre Okotoks, Alberta $10,200,000

FOR SALE - 17,600 sf in Calgary: retail/apartment building - Fully Leased - 7,000 sf in Calgary: retail/industrial building - Fully Leased - Development Opportunity - Okotoks - 16,000 sf - 2 Acre Multi Residential Site - Calgary Region - Foreclosure - 8,000 sf High Density Dev. Site - Calgary Core - Foreclosure Shane Olin Tel: (403) 708-9086 solin@naicalgary.com

Daniel Goldstrom Tel: (403) 809-8326 dgoldstrom@naicalgary.com

SOLD 7130 Fisher Road Calgary, Alberta $10,100,000

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

Deb Wallace Tel: (403) 291-8862 dwallace@naicalgary.com

INVESTMENT OPPORTUNITIES SOUTHERN ALBERTA HOTELS AND MOTELS - Three motels can be purchased as a portfolio or separately. Total over 300 rooms 8% cap rate on existing cash flow - 160 plus rooms full service hotel 80% plus occupancy Very Attractive Capitalization Rate AUTOMOTIVE SERVICE We have a selection of gas bars with convenience stores as well as some with additional services including liquor stores, RV pads, storage etc. available in Southern Alberta. Numerous other opportunities available in Western canada. All information on these opportunities will be treated on a proprietary and confidential basis. Contact: Jim Balfour Tel: (403) 291-8860 jbalfour@naicalgary.com

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

Wing Tang Tel: (403) 291-8872 wtang@naicalgary.com

Contact: Tim Anderson Tel: (403) 291-8866 tanderson@naicalgary.com

BUSINESSES FOR SALE FLOOR COVERINGS - CALGARY AREA Established more than 20+ years. Stable staff, long term customers. Revenue $5M & steady. EBITDA $460K (2010). $2,099,000 includes working cap. HVAC MANUFACTURER - ALBERTA 2011 revenue est. $4M and profitable. Custom air handling manufacturer. In business over 20 years. Direct and indirect fired air. Under $1.7M earnout considered. PAVING BUSINESS - PRINCE GEORGE 2010 revenue $1.1M (up 20%). 2010 EBITDA $351K with owner wage. Batch Plant and 2 gravel pits. $829,000 For a List of All Businesses Call: Craig Tennock Tel: 1-877-880-7290 craig@naicommercial.ca

Calgary Office #211, 4014 MacLeod Trail South, Calgary, AB T2G 2R7 • Phone: (403) 214-2344 FAX: (403) 214-0244 BUILT ON THE POWER OF OUR NETWORK. OVER 355 OFFICES WORDLWIDE.

20 BRAWLING OVER SPRAWL

Edmonton’s carrot, Calgary’s big stick

▲

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

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

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

Edmonton realtor Ayaz Bhanji: investors should get ahead of trend to living in the downtown core

15 OCEAN-FRONT CABINS AT $150K

Bargain prices sprout in B.C.’s recreational market as luxury resorts suffer 31 SPACE TIGHT IN SASKATOON

City has the lowest industrial and apartment vacancies in Canada 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

$4.29 MARCH 2011 Vol. 26/Issue 3

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

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

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

www.colliers.com/kelowna

PRIME DEVELOPMENT SITE WINFIELD TOWN CENTRE

1936 KENT ROAD, KELOWNA

PRINCETON INDUSTRIAL ESTATES

D L O 760S LAVAL CRESCENT, KAMLOOPS

s !DDITIONAL ACRES $3,575,000

List Price: 1,485,000

MARSHALL MCANERNEY Call broker for pricing MIKE GEDDES

(Personal Real Estate Corp)

996 LAVAL CRESCENT, KAMLOOPS

AVALON INN - OSOYOOS

CHAD BIAFORE

ORCHARD MOBILE HOME PARK

3575 ALCAN ROAD, KELOWNA

s SQ FT BUILDING s g FRONTAGE ON (WY List Price: $3,250,000 JEFF HUDSON (Personal Real Estate Corp )

s PADS AND 26 SITES s ,OCATED KMS FROM $OWNTOWN +AMLOOPS List Price: $9,500,000 (Asset Sale) or $9,270,000 (Share Sale) JEFF HUDSON (Personal Real Estate Corp ) MARSHALL MCANERNEY ( Personal Real Estate Corp)

s ACRES ZONING IN PLACE FOR UNITS s 3PECTACULAR VIEWS OF /KANAGAN ,AKE List Price: $22,500,000

s FULLY SERVICED LOTS AVAILABLE IN NEW INDUSTRIAL park s 3IZES RANGE FROM ACRE UP TO ACRES

s #OMMERCIAL &!2 ACRES $5,999,000

List Price: 2,500,000

TOWER RANCH

s OVER SQUARE FEET OF REFRIGERATED WAREHOUSE s LONG TERM TENANTS IN PLACE List Price: $1,895,000 LARRY GOOD

CHAD BIAFORE, BBA

s 5NIQUE OPPORTUNITY UNIT MOTEL AND LIVING QUARTERS PLUS A PAD MOBILE HOME PARK s /N (IGHWAY IN DOWNTOWN /SOYOOS BLOCKS TO /SOYOOS ,AKE s &RONTS ONTO (IGHWAY BACKS ONTO A POND List Price: $3,000,000 ERIC WEBER (Personal Real Estate Corp)

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

UĂŠ

201-1449 St . Paul St., Kelowna, B.C. V1Y 2E5 Syd Berisoff Larry Berisoff Wes McInnes 201-1449 St . Paul St., Kelowna, B.C. V1Y 2E5

O f fice: Fax:

250-862-8100 250-984-0803

Syd Berisoff Agent/Broker

AssociateĂŠBroker

Larry Berisoff SalesĂŠAssociate

Associate Broker Agent/Broker email@syberrealty.com wes@syberrealty.com syd@syberrealty.com

email@syberrealty.com To view photos on these and other opportunities visit our website www.syberrealty.com To view photos on these and other opportunities visit our website www.syberrealty.com syd@syberrealty.com

SALT SPRING ISLAND s 3PECTACULAR MAJESTIC 3ALT 3PRING )SLAND OCEAN FRONT s .EARLY COMMERCIAL ACRES WITH WALK ON BEACH s TOP END UNITS WITH DIRECT OCEAN VIEWS s 2ENOWNED LONG ESTABLISHED HEALTH SPA FACILITIES s 4HIS IS A TOP mIGHT OPERATION WITH LARGE VOLUME SALES s -ECHANISMS lNISHED APPROVED FOR STRATA SALES $2,550,000

LOON LAKE s /VER ACRES FEET WATER FRONTAGE ON ,OON ,AKE s 4HIS IS %SCAPE 0ARADISE 2ESORT ESTABLISHED IN s OWNER FOR THE LAST YEARS IS RETIRING s CABINS 2 6 CAMPING SPOTS RESIDENCE SHOP STORE s (UGE POTENTIAL IN SUB DIVIDING STRATA ETC s ,OON ,AKE IS FAMOUS FOR ITS NATURALLY STOCKED lSHING $1,995,000

MERRIT, B.C. 4WO CHOICE FULLY SERVICED BUILD READY COMMERCIAL LOTS ACRES $369,000 & $269,000 OFFERS PLEASE NORTH OKANAGAN EYE WEAR BUSINESS 7ELL ESTABLISHED AND PROlTABLE SELLER MAY CARRY lNANCING $499,000 LAKE COUNTRY lTNESS CENTRE EXTENSIVE EQUIPMENT LINES $129,000 CRANBROOK, B.C. s 4RADITIONAL DOWNTOWN CORE PUB s )NCLUDES LAND BUILDING LIQUOR LICENSE s 2ECENT NEW HEATING SYSTEM UPGRADES s 3ELLER MAY CARRY lRST MORTGAGE $468,000

SICAMOUS, B.C., CHOICE COMMERCIAL ACRES 4RANS #ANADA (WY JUNCTION LOCATION $499,000

WILLIAMS LAKE, B.C.,- PAD MOBILE HOME PARK C W SITE 2 6 PARK 4OP NOTCH CONDITION $1,395,000

NORTH OKANAGAN s 0UB LIQUOR STORE LAND BUILDING s HOTEL UNITS (IGHWAY FRONTAGE s 'REAT CENTRAL LOCATION ENROUTE TO -ABLE ,AKE s 6ENDOR MAY lNANCE WITH GOOD DOWN PAYMENT $1,249,000

SOUTHERN ALBERTA s UNIT MOTEL WITH A SEAT RESTAURANT s !DDITIONAL MEETING ROOM LOUNGE s 6ERY GOOD CONDITION WITH A NICE LIVING AREA s 0RICED AT DOOR !SKING $795,000

CLINTON, B.C. s UNIT STARTER MOTEL s ,OCATED ON HIGHWAY s 6ACANT ADJOINING LOT s ,IVE FOR FREE WORK FOR YOURSELF $349,000

FORCLOSURE! s /PERATED AS A UNIT MOTEL s 4OWN CENTRE LOCATION 2ADIUM (OT 3PRINGS s 3PACIOUS LIVING QUARTERS s "ELOW APPRAISED ASSESSED VALUES $425,000

REVELSTOKE, B.C. COMMERCIAL ACRES WITH SQ FT BUILDING ON THE 4RANS #ANADA (WY $1,200,000

CACHE CREEK, B.C. s UNIT CEMENT BLOCK BUILDING MOTEL s .ATURAL STOPPING PLACE WHEN HEADING .ORTH %AST ON THE 4RANS #ANADA s -ETAL ROOF LOW TAXES TOWN SERVICES s ,IVE FOR FREE IN A GREAT CLIMATE $329,000

$0/5&/54 ."3$) */5&3*03 # $ Â… "-#&35" Â… 4"4,"5$)&8"/ Â… ."/*50#" 4&$5*0/

FEATURES 20 0/ 5)& $07&3 "MCFSUB¤T VSCBO TQSBXM CBUUMF

On the cover Edmonton commercial realtor Ayaz Bhanji: developers should get ahead of back-to-the-city movement. Photo: John Ulan/Epic Photography

Edmonton tries the carrot, Calgary considers the stick

15 0DFBO GSPOU DPUUBHFT VOEFS

Bargain price seen as pushback against expensive resorts

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

Lloydminster opens floodgates for retail developers

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

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

13–29 "-#&35" 3&"- &45"5&

Industrial, offices, apartments post super-low vacancies

COLUMNS 7 29 33 35

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

2–12 */5&3*03 /035)&3/ # $ 3&"- &45"5&

31 (FUUJOH <WFSZ> UJHIU JO 4BTLBUPPO

HOT PROPERTIES

25 #PPN UJNFT GPS B 1SBJSJF CPSEFS UPXO

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

29–34 4"4,"5$)&8"/ ."/*50#" 3&"- &45"5&

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

8)"5¤4 )"11&/*/( */ #3*5*4) $0-6.#*"

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.03& 0110356/*5*&4 ™ … -08&3 ."*/-"/% # $ … 7"/$067&3 *4-"/% ™ 4&& 4&$5*0/ "

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

#/--%2#)!, 02/0%24)%3 ). +%,/7.! !2%! s #100-1553 Harvey Ave., Kelowna, BC V1Y 6G1 NEW

CONSOLIDATION COMPLETE 12 LOTS. 1.2 MILLION BELOW APPRAISAL Property would include a 6 storey commercial building and a 5 storey mixed use building. The commercial component of the project would have a one storey retail base with 5 storeys of ofďŹ ce space while the mixed use component has a 1 storey retail base with 4 storeys of residential development. The required parking will be located entirely within a 1 storey underground parkade. The gross building area for this development site would be approximately +/- 180,000 sq. ft. Available: $4,990,000 MLSÂŽ

BRAVA Under construction. 2 Commercial, 3 Residential Strata units for sale – passive investment. To be fully leased at 7% CAP Rate, 5 year term. Projected occupancy June 2011. Call Ken or Kris for all the details.

OKANAGAN TOWNHOUSE For Sale – Townhouse minutes from centre of city. Steps to schools, walking trails & recreation areas. 15 minutes to airport, UBCO and shopping, central location. End unit -approximately 1,625 sq. ft. Laminate & tile oors on the main, carpeting on stairway, family room & bedrooms. Kitchen cupboards refaced, new counter tops. Spacious family room - nicely separated from downstairs giving a degree of privacy. Quick possession.. Available For Sale: $343,000 MLSŽ

NEW

GREAT LOCATION IN THE PANDOSY CORRIDOR TO BE BUILT! Priced individually - New Strata Commercial/Residential Mix building. Commercial bays on 1st & 2nd oors. Unit 1 (main oor) - priced at $724,320 for 2,12 sq.ft. Unit 2 (2nd oor) $1,302,880 for 3,832 sq ft. 3rd oor Penthouse - residential priced at $579,000 each. Design changes may alter oor plate. All measurements to be veriďŹ ed by survey. Call Ken or Kris for details.

FINISHED 2,352 SQ.FT. INDUSTRIAL STRATA Finished 2,352 sq ft Industrial Strata Bay For Sale or Lease. Available For Sale $450,000 – Lease Rate $12.50 psf plus CAM MLSŽ

NEW

CLASS A LEASE SPACE Class A Lease Space - The neighbourhood is a mixture of commercial properties - small-box retail stores, restaurants, banks, medical clinics and ofďŹ ces in the Spall /Enterprise area. This space is currently occupied by a rejuvenation centre and is tastefully decorated. The oors are a mixture of slate and hardwood. Lots of decorative pot lighting. The property is plumbed with a shower and 2 washrooms. There are 2 private ofďŹ ces. Approximately 1,200 ft². Ready for occupancy. Asking: $22.00 psf plus CAM MLSÂŽ

GREAT LOCATION IN THE PANDOSY CORRIDOR Pre Leasing of approximately 11,860 sq ft in Rutland. 2 Floors of Commercial mix available with unit spaces ranging from 690 to 2,000 sq ft bays offering up to 5,700 sq ft on the main oor and 690 – 6,160 sq ft on 2nd oor. The proposed escalating rates start at $15.00 psf with a CAM of $3.50 psf. Call Ken or Kris for more info.

FOR SALE INDUSTRIAL STRATA For Sale - Industrial Strata – Zoning I1 Located in the industrial of West Kelowna. 1,486 SF Concrete block end cap of Industrial Strata building offered at $175.00 psf including improvements, 3 parking stalls and ease of access on Juliann Rd. A wee bit below the competition in pricing. Available: $259,800,000 MLSŽ

WEST KELOWNA - INDUSTRIAL STRATA FOR LEASE Two units available for lease each one +/1,752 sq ft. New building with occupancy November 2010. 14’ overhead doors, 22’ ft clear to underside of truss. Inside ceiling height could accommodate a mezzanine. Property will be landscaped and include night lights. These 2 units (back to back) could be combined for +/- 3,504 sq ft. Available: $11.00 psf plus NNN MLSŽ

B4 Interior British Columbia */7&45.&/5 0110356/*5:

SALMON ARM, B.C.

13,600 sq ft commercial building located in Vernon on busy road with great exposure. Partly in-floor heat, 2 loading docks, great parking, well maintained, light industrial zoning, excellent return. $1,650,000 MLSÂŽ

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

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

KELOWNA, BC INDUSTRIAL SPACE FOR LEASE $7.50/sq. ft. + NNN

SALLY SCALES

REINER STASS

sallys1@telus.net or 250-832-4831

1-866-924-1599

reistass@royallepagevernon.com

Reduced to SELL! Now Priced at $399,000 FSF JT B VOJRVF PQQPSUVOJUZ GPS ZPV JO # $ ¾T 4PVUI $BSJCPP POMZ NJOVUFT GSPN .JMF )PVTF 5IJT TJUF XBT QSFWJPVTMZ LOPXO BT ²5IF $IPQTUJDL 'BDUPSZ³ BOE OPX UIF ,FFLP -PH )PNFT CVJMEJOH ZBSE 5IFSF JT PWFS TR GU PG JOEPPS NBOVGBDUVSJOH TQBDF XJUI TR GU PG PGž DF BOE MJWJOH TQBDF 0WFS MFWFM BDSFT TVSSPVOEFE 3BZ $BSMTPO PS #SFOEB )VUUPO CZ DSPXO MBOE XJUI FBTZ BDDFTT PGG )XZ BOE POMZ B GFX NJOVUFT UP 1IPOF )XZ ;POJOH JT . ²MJHIU *OEVTUSJBM³ BMMPXJOH GPS NBOZ VTFT 5IFSF 5PMM 'SFF JT BMTP BO PXOFS PS DBSFUBLFS¾T SFTJEFODF GPS POTJUF TFDVSJUZ 5IF XBSF IPVTF BOE DBSFUBLFS¾T SFTJEFODF JT DVSSFOUMZ SFOUFE PVU 5IJT QSPQFSUZ IBT KVTU IBE B TJHOJž DBOU QSJDF SFEVDUJPO BT UIF PXOFS JT NPUJWBUFE UP TFMM %PO¾U XBJU UIJT QSPQFSUZ XPO¾U MBTU MPOH .-4 / 100 MILE REALTY

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ACREAGE/BUSINESS KELOWNA, BC One of Kelowna’s most popular tourist attractions & home of the famous goat’s cheese and milk gelato! Situated in a picturesque location, 5.5 acres, beautiful log home (rents for $3000/week). Business nets approx. $12,000/month.

Fantastic package!!! Trades Considered!!!

• 2,000 to 16,000 sq. ft. • Additional parking/yard space available • Heated and sprinklered building • Up to 42’ ceilings • Large overhead doors • 3 phase power

• Easy in and out access • Accessible for large vehicles • Optional ofÀce space This space is Àexible, so let’s discuss your requirements!

The Property Source Group www.thepropertysource.ca

tf: 1.888.661.4434 p: 250.317.2707

GINO DAL PONTE

CINDY GARNER

DAL ANDERSON

GORDON KEITH

OKANAGAN – B.C. INTERIOR I N V E S T M E N T

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

NEW LISTINGĂŠ- RARE OPPORTUNITY FOR MARKET DOMINANCE

TWO NORTH OKANAGAN SELF STORAGE FACILITIES UĂŠĂ‡Ăˆä1Â˜ÂˆĂŒĂƒĂŠ*Â?Ă•ĂƒĂŠĂ“ääĂŠ"Ă•ĂŒ`ÂœÂœĂ€ĂŠ6i…ˆVÂ?iĂŠ-ĂŒÂœĂ€>}iĂŠ-ÂŤ>ViĂƒ UĂŠĂ“ĂŠ-ÂˆĂŒiĂƒĂŠ/ÂœĂŒ>Â?ˆ˜}ĂŠn°Ă‡ĂŠ VĂ€iĂƒĂŠĂœÂˆĂŒÂ…ĂŠ >˜`ĂŠvÂœĂ€ĂŠ Ă•ĂŒĂ•Ă€iĂŠ Ă?ÂŤ>Â˜ĂƒÂˆÂœÂ˜ UĂŠ/ÂœÂŤĂŠ+Ă•>Â?ÂˆĂŒĂžĂŠ Ă•ÂˆÂ?`ˆ˜}ĂƒĂŠÂˆÂ˜ĂŠ Ă?ViÂ?Â?iÂ˜ĂŒĂŠ ÂœV>ĂŒÂˆÂœÂ˜ĂƒĂŠUĂŠ >˜>}iÀÊ VVœ““œ`>ĂŒÂˆÂœÂ˜ĂŠ ÂœĂŒÂ…ĂŠ ÂœV>ĂŒÂˆÂœÂ˜Ăƒ UĂŠ Ă€ÂœĂƒĂƒĂŠfÂŁ]£ää]äääĂŠ*Â?Ă•ĂƒĂŠUĂŠ œ˜wĂŠ`iÂ˜ĂŒÂˆ>Â?ÂˆĂŒĂžĂŠ }Ă€ii“iÂ˜ĂŒĂŠ,iÂľĂ•ÂˆĂ€i` Asking Price $11,750,000

Land & Business for $1,999,999 MLSÂŽ Exclusive DINO GINI 250-861-5122 PERSONAL REAL ESTATE CORPORATION Realty Executives Kelowna

@6BADDEH

LAND – OSOYOOS HUGE PRICE REDUCTION – 21.8 ACRES – PRIME HOLDING PROPERTY UĂŠ ÂœĂ€Â˜iĂ€ĂŠĂƒÂˆĂŒiĂŠÂˆÂ˜ĂŠÂ…Âˆ}Â…ĂŠĂŒĂ€>vwĂŠV]ĂŠÂ…Âˆ}Â…ĂŠiĂ?ÂŤÂœĂƒĂ•Ă€iĂŠÂ?ÂœV>ĂŒÂˆÂœÂ˜ĂŠĂœÂˆĂŒÂ…ĂŠÂœĂ›iÀÊ£]äääĂŠvĂŒ°ĂŠ ˆ}Â…Ăœ>ÞÊ ĂŽĂŠvĂ€ÂœÂ˜ĂŒ>}iĂŠÂŤÂ?Ă•ĂƒĂŠÂŁ]£ÇxĂŠvĂŒ°ĂŠĂƒiVœ˜`>Ă€ĂžĂŠĂ€Âœ>`ĂŠvĂ€ÂœÂ˜ĂŒ>}i UĂŠ/ÂœĂœÂ˜ĂŠĂƒiĂœiÀÊEĂŠĂœ>ĂŒiÀÊ>ĂŒĂŠÂ?ÂœĂŒĂŠÂ?ˆ˜i UĂŠ6iÀÞÊVÂ?ÂœĂƒiĂŠĂŒÂœĂŠÂ?>ÂŽiĂŠUĂŠ ˜VÂ?Ă•`iĂƒĂŠÂ…ÂœĂ•ĂƒiĂŠEĂŠÂœÂŤiĂ€>ĂŒÂˆÂ˜}ĂŠÂœĂ€VÂ…>Ă€` REDUCED $750,000 TO NEW Asking Price OF $2,400,000 2.13 ACRE DEVELOPMENT SITE UĂŠ/ÂœĂ•Ă€ÂˆĂƒĂŒĂŠ œ““iĂ€Vˆ>Â?ĂŠâœ˜ˆ˜}ĂŠUĂŠ Ă€ÂœÂ˜ĂŒ>}iĂŠÂœÂ˜ĂŠĂŽĂŠĂ€Âœ>`Ăƒ UĂŠ*Ă€ÂˆÂ“iĂŠÂ?ÂœV>ĂŒÂˆÂœÂ˜ĂŠÂœÂ˜Â?ÞÊÎääĂŠviiĂŒĂŠĂŒÂœĂŠÂ?>ÂŽi UĂŠ ˜VÂ?Ă•`iĂƒĂŠĂ€iÂ˜ĂŒ>Â?ĂŠÂ…ÂœĂ•ĂƒiĂŠEĂŠÂ?>Ă€}iĂŠĂƒĂŒÂœĂ€>}iĂŠLĂ•ÂˆÂ?`ˆ˜} Asking Price $850,000

COURT ORDERED FORECLOSURE SALE INDUSTRIAL BUILDING SUMMERLAND

1794 Kelly Douglas Rd Warehouse, Storage, & OfďŹ ce Space s 5P TO SQ FT AVAILABLE s #LEAN DRY SECURE STORAGE s ,OADING DOCK ACCESSIBILITY s /Fl CE FACILITIES s #OOLER FREEZER SPACE COULD BE INCLUDED s !TTRACTIVE LEASING INCENTIVES FOR LONG TERM TENANT s !MPLE PARKING SPACE

Mona M. Murray $IP 5,% 2) "# #0/Fl CE 250-372-2277

%MAIL mona@mcmrealestate.ca

www.mcmrealestate.ca

UĂŠĂŠĂ“°Ăˆ{ĂŠ VĂ€iĂŠ-ÂˆĂŒiĂŠUĂŠĂŽä]äääĂŠĂƒ¾°ĂŠvĂŒ°ĂŠBĂ•ÂˆÂ?`ˆ˜}ĂŠ ĂœÂˆĂŒÂ…ĂŠĂˆ{nĂŠĂƒ¾°ĂŠvĂŒ°ĂŠÂœvwĂŠViĂŠĂƒÂŤ>ViĂŠUĂŠ Ă•ÂˆÂ?ĂŒĂŠÂˆÂ˜ĂŠĂ“ääÇÊÊ UĂŠ<œ˜ˆ˜}ĂŠ>Â?Â?ÂœĂœĂƒĂŠÂ˜Ă•Â“iĂ€ÂœĂ•ĂƒĂŠÂŤiĂ€Â“ÂˆĂŒĂŒi`ĂŠĂ•ĂƒiĂƒ° Asking Price $1,995,000

MOBILE HOME PARK MERRITT UĂŠĂ“äĂŠ-ÂˆĂŒiĂƒĂŠÂœÂ˜ĂŠx°nĂ“ĂŠ>VĂ€iĂƒ UʙÊ*>Ă€ÂŽĂŠÂœĂœÂ˜i`ĂŠÂ“ÂœLˆÂ?iĂŠÂ…ÂœÂ“iĂƒ UĂŠ*Â?Ă•ĂƒĂŠĂŽĂŠĂ€iÂ˜ĂŒ>Â?ĂŠÂ…ÂœĂ•ĂƒiĂƒĂŠEĂŠÂŁĂŠDĂ•ÂŤÂ?iĂ? UĂŠ ÂˆĂŒĂžĂŠĂƒiĂœiÀÊ>˜`ĂŠĂœ>ĂŒiĂ€ UĂŠ Ă?ÂŤ>Â˜ĂƒÂˆÂœÂ˜ĂŠÂŤÂœĂŒiÂ˜ĂŒÂˆ>Â? UĂŠ Â˜Â˜Ă•>Â?ĂŠ}Ă€ÂœĂƒĂƒĂŠÂˆÂ˜Vœ“iĂŠfÂŁĂˆx]äääʳɇ Asking Price $1,595,000

NEIGHBOURHOOD MALL OSOYOOS UĂŠ"˜Â?ÞÊnĂŠ9i>Ă€ĂƒĂŠ"Â?` UĂŠ ˆ}Â…ĂŠ/Ă€>vwĂŠVĂŠ ˆ}Â…Ăœ>ÞÊÎÊ ÂœV>ĂŒÂˆÂœÂ˜ UÊÇÊ/Ă€ÂˆÂŤÂ?iĂŠ iĂŒĂŠ œ““iĂ€Vˆ>Â?ĂŠ1Â˜ÂˆĂŒĂƒĂŠÂŤÂ?Ă•Ăƒ ĂŠ"˜iĂŠĂ“ĂŠLi`Ă€ÂœÂœÂ“ĂŠĂ€iÂ˜ĂŒ>Â?ĂŠ ÂŤ>Ă€ĂŒÂ“iÂ˜ĂŒ UĂŠ*ÂœĂŒiÂ˜ĂŒÂˆ>Â?ĂŠĂŠ iĂŒĂŠ ˜Vœ“iĂŠfÂŁĂ“ä]äääʳɇÊ Asking Price $1,895,000

SOLD

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

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

Interior British Columbia B5

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

SHUSWAP LAKE MLS® 10020318 Price $949,000 4354 Copper Cove Rd Scotch Creek BC

Spectacular view of Shuswap Lake. Property has been extensively renovated with a open concept on the upper level. Basement has been fully finished with Sauna. Property offers privacy, quietness, lots of room for your toys. Easy access to the water via the cable lift or enjoy a short walk to the Beach. MLS® 10011706 Price $899,900 3-1038 Wharf Rd Scotch Creek BC

Gorgeous 88’ Sandy Beach with Southern exposure. Beautiful remodeled rancher style home for year round living. Enjoy a view of Shuswap Lake from the open living space or on the Large Deck. A Must See Call Trev for all your Shuswap needs Bus: 250-832-7051 Direct: 250-833-8771 TF: 1-888-676-2435 trevmanzuik@remax.net Remax www.okanaganshuswap.com Shuswap

Offered at $150,000 Sears offers more specialty services than any other retailer in Canada & is a growing business for sale in Lillooet! Get ready to make money working on a commission basis while enjoying minimal overhead. Sears supplies office equipment, display items, office supplies, signage & half of advertising. Training is provided. This is an opportunity that a small town does not see often, interest is here, don’t let it slip by! Some conditions must be approved by Sears.

FOR SALE PENTICTON

LUXURY MOUNTAIN TOP HOME ON 2 ACRES BEAUTIFUL VIEWS OF SKAHA AND OKANAGAN LAKE

$1,999,000

Automotive, Wrecking & Towing Business Offered at $550,000 The total package! 1.18 acres with a residence & thriving business on site. TNT Automotive, Wrecking & Towing has been doing business in Lillooet for 50 years, and the longstanding phone number is included with the purchase. They are the local BCAA service provider with the largest jurisdiction that BCAA offers, as well as an ICBC service provider. Government approved impound & second impound also on site with potential to bring in more money with motorhome storage, bin area for used parts, etc. Huge opportunity for used automotive parts sales expanded to the internet. Bin system for scrap metal recycling in place. Four tow trucks & one service truck included. Three phase power with 220 amp service to 73x40 ft shop with mezzanine, office, sales room, wood stove & oil furnace, bathroom, and heavy duty air compressor. Comfortable 2-3 bedroom home, RV dump & plug in. Call for more details, this is a money maker in constant demand!

Bailey A. Stone Royal LePage Westwin Realty Lillooet

Cell Phone: 250-256-9085 Toll Free Fax: 866-203-5260 www.lillooetrealestatesales.com

PENTICTON

LAKEFRONT PENTHOUSE WITH MOUNTAIN VIEWS AVAILABLE IMMEDIATELY

1 BDRM + DEN: $529,000

PENTICTON

LAKEFRONT PENTHOUSE AMAZING VIEWS OF OKANAGAN LAKE AVAILABLE IMMEDIATELY

2 BDRM + DEN: $1,599,000

OSOYOOS 10 INCOME PRODUCING LAKEFRONT RV LOTS

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

monarkinvestments.ca

604-592-7250

Financing Available. Potential Trades.

WHO ELSE WANTS A BUSINESS WITH A STRONG BOTTOM LINE?

Fully leased 3plex, over 5000 sqft, updated, 7.41% cap. $574,000

287 seat Gem Theatre, Full Digital Equipped, strong bottom line. $595,000

Sunshine Valley Appliances, complete sales, service, install centre! Strong bottom line. $350,000

dba The Source, Full Electronics, Television, Audio Sales. Complete Computer Custom Build and Repair. $295,000

Call Brian Thate 250-442-7370 www.grandforksrealestate.ca

COLDWELL BANKER COMMERCIAL WORLDWIDE LARGE CONSTRUCTION PROJECTS UNDERWAY IN OUR AREA FORMER GROCERY STORE WITH APARTMENT PRIME DOWNTOWN LOCATION $124,900

HOTEL & LIQUOR STORE & RESTAURANT NEWLY RENOVATED RESTAURANT AND ROOMS. VENDOR WILL CARRY 1ST MORTGAGE AT A COMPETITIVE RATE.

C-STORE, GAS BAR, LIQUOR STORE, POST OFFICE FIBRE GLASS TANKS, NEW PUMPS

$799,000

$1,490,000 POTENTIAL CO GEN PLANT 100 ACRES s ,ARGE )NDUSTRIAL 3ITE s -AJOR 0OWER ,INE s 'AS ,INE s 2AIL ,INE

$750,000

FURNITURE & APPLIANCE LAND, BUILDING, BUSINESS 37,500 SF OF NEWER BUILDING

$1,990,000 1ST TRAIL REAL ESTATE LTD.

QUALITY INN 48 ROOMS RESTAURANT AND MEETING ROOMS. STRATEGICALLY LOCATED ON HIGHWAY 3 AT THE ENTRANCE TO THE WEST KOOTENAYS IN CASTLEGAR

$2,495,000 SENIORS GOLDEN LIFE 21 UNITS IN EXCELLENT CONDITION NICE RIVERSIDE LOCATION

$2,490,000

DISTRIBUTION CENTRE 40,000 SQ. FT. FOR LEASE COMMERCIAL INDUSTRIAL 1 ACRE LOT FOR SALE $359,000

(250) 231-5222 ( CELL) www.cbcworldwide.com www.coldwellbankertrail.com (250) 368-5508 ( FA X )

B6 Interior British Columbia

Grand Forks Excellent Investment Opportunity

Centrally located 6 suite apartment bldg. 4-2 bdrm suites and 2-1 bdrm suites • Coin operated laundry facility

OKANAGAN CATTLE RANCH REDUCED UÊÓ£Ó°ÈÓÊ VÀiÃÊÀ> V Ê V>Ìi`Ê Ê iÀi i Ã]Ê

UÊÊÎÊ > Õv>VÌÕÀi`Ê iÃ]ÊÎÊ >ÞÊL>À Ã]Ê ÀÃiÊ L>À ]Ê«Õ «ÊÃ i`ÊEÊiµÕ « i ÌÊÃ «ÊÜÉÊÃÕ ÌiÊ UÊ7>ÌiÀÊEÊ}À>â }Ê Vi ÃiÊv ÀÊx ÓÊ 1 ° UÊ6i ` ÀÊw > V }Ê>Û> >L i $1,950,000 excl equip & livestock

• Electrical/storage room • Long term tenants • Close to all amenities • Growing community

OKANAGAN MEAT SHOP & DELI UÊ£ÓÊÞi>ÀÃÊ ÊLÕÃ iÃÃ]Ê>Ü>À`ÊÜ } UÊ7i Ê>«« Ìi`Ê> `ÊvÕ ÞÊiµÕ ««i` UÊ À ÃÃÊÃ> iÃÊV Ã ÃÌi Ì ÞÊ ÛiÀÊf£ $650,000 inc equipment

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

OKANAGAN

$0..&3$*"- .&%*$"- #6*-%*/(

100 MILE HOUSE, B.C.

%08/508/ 1&/5*$50/

$0..&3$*"- $03/&3 4503&

FULL FACILITY HOTEL

8*5) -*7*/( 26"35&34

/& ( --)"1,+

250-442-6548/250-666-0199 bbhullar04@hotmail.com

ALF SANDERSON

604-691-6646 or 1-866-717-6989 alf@naicommercial.ca

BUSINESS LOANS & MORTGAGES

SJDL!SJDLBQQMFUPO DPN MBKQF@QLK .BJO 4U 1FOUJDUPO #$

Includes only private liquor store in town. Excellent location. $2.9 million

250-459-2454

VERNON & AREA TRADES CONSIDERED ON SELECT PROPERTIES

Taylor Capital Inc. Proudly arranging financing for B.C. businesses since 1998

UÊÊ"«iÀ>Ì }ÊLÕÃ iÃÃiÃÊ Ê «iÀ>Ì }Ê > ÃÉ i>ÃiÃÉ ÌiÀ Ê > Ã UÊÊ ÕÃ iÃÃÊ Ý«> Ã Ê Ê iââ> iÉ}À ÜÌ ÊV>« Ì> UÊÊ Ìi ÃÊEÊ Ìi ÃÊ Ê }ÊÌiÀ Ê ÀÌ}>}iÊv > V } UÊÊ Õ Ì Ê > ÞÊ Ê«ÕÀV >ÃiÊEÊV ÃÌÀÕVÌ Êv > V } UÊÊ iÀV > ÊEÊ `ÕÃÌÀ > Ê Ê«ÕÀV >ÃiÊEÊV ÃÌÀÕV Ì Êv > V } UÊÊ ÕÃ iÃÃÊ* > ÃÊ Ê iÜÊEÊiÝ ÃÌ }ÊLÕÃ iÃÃiÃ

NEW! CONDOMINIUM GARAGES! UÊÊ ,-/Ê/ Ê" , tÊ*Ài Õ ÊÃÌ À>}iÊÜ Ì Ê>Ê` vviÀi ViÊqÊ9"1Ê"7 Ê /tÊÊ iÜÊ , /"7 ÊV « iÝÊ vviÀÃÊ{ÇÊvÕ ÞÊVÕÃÌ â>L iÊÊÃÌ À>}iÊ}>À>}iðÊÓäÝ{n]ÊÓ{Ý{nÊÜ Ì ÊÓä½Ê ÛiÀ i>`Ê` ÀÃÊ« ÕÃÊÕ ÌÀ>ÊV Ûi i ÌÊ`À ÛiÊÌ À Õ} Ê `i °Ê `i> Êv ÀÊ,6-]ÊL >ÌÃ]ÊV iVÌ ÀÃ]Ê ÀiÌ> Ê> `ÊLÕà iÃÃÊ ÛiÀy Ü°Ê iÛi ÊÎÊ>VÀiÊà ÌiÊÜ Ì ÊµÕ V Ê>VViÃÃÊÌ Ê> Ê > ÀÊÀ ÕÌiÃ°Ê i ÕÝi]Ê vÕ ÞÊvÕÀ à i`Ê"Ü iÀÃÊ Õ }i°Ê Õ}ÕÃÌÊÓ䣣ʫ ÃÃiÃà °Ê À Ê$124,900°ÊÊ Ã Ê>L ÕÌÊ«Ài V ÃÌÀÕVÌ Ê Vi Ì ÛiÃ°Ê LAKESHORE DEVELOPMENT UÊÊ Ê VÀ ÃÃÊÀ >`ÊvÀ Ê«ÕL VÊ > iÊ>VViÃÃÊ Ê" > >}> Ê > i°Ê°ÓÎÊÊ iÛi Ê>VÀi°ÊÊ" *ÊÃÕ«« ÀÌÃÊ £äÊ Ê iÜÊÜ>ÌiÀvÀ ÌÊ`iÛi « i ÌÊ>Ài>°ÊÊÎL`À Ê iÊÜÉ }Ì iÊÌi > Ì° ÊÊ$725,000 UÊÊÊ iÛi ]Êi>ÃÞÊ>VViÃÃÊ° Ê>VÀiÊÜ Ì Ê£{Î¿Ê vÊ" > >}> ÊÜ>ÌiÀvÀ Ì°Ê Þ Ê9>V ÌÊ ÕLÊ> `Ê*>À °Ê* Ìi Ì > ÊÌ ÊÀiâ iÊÌ Ê £äÊ Ê/ ÕÀ ÃÌÊ iÀV > °Ê* Ãà L iÊ > `Ê>ÃÃi L ÞÊÜ Ì Ê>` >Vi ÌÊ > ià ÀiÊ «À «iÀÌ iðÊÊ$2,900,000 ÝV Õà Ûi° NURSERY UÊ Ê i>ÀÌÊ vÊ `ÃÌÀi> Ê6> iÞtÊ/ÕÀ Ê iÞÊ «iÀ>Ì tÊ-Ìi>`ÞÊ À ÜÌ tÊ µÕ « i Ì]Ê>ÕÌ >Ìi`Ê }Àii ÕÃi]ÊÛi V iÃ]ÊV v ÀÌ>L iÊ iÊÜ Ì ÊÃÕ Ìi]Ê vwVi°ÊÓäÊ«À iÊ ÀÀ }>Ìi`Ê>VÀiÃÊÜÉÊÃiÌÊÕ«Ê v ÀÊ ÀÃiðÊ$1,600,000ÊÊÊ - ® ACREAGE/RANCHES

A no obligation assessment is just a call away.

R.N. (Ron) Palmer CIM, AMP Phone (250) 446-2868 Email: rpalmer@lincsat.com www.ronaldpalmer.com

UÊÊÈn£Ê>VÀiÊ/À « ÞÊ,> V ÊÊ­ ÀÊ« Ìi Ì > Ê`iÛi « i Ì®ÊÓäÊ ÕÌià ÊvÀ Ê i Ü >Ê ÌiÀ >Ì > Ê À« ÀÌÊEÊ ÌÞÊ vÊ6iÀ °Ê ` >Vi ÌÊÌ ÊÜ À `ÊV >ÃÃÊ*Ài`>Ì ÀÊ, `} iÊ vÊ ÕÀÃiÊ> `Ê-«>À }Ê ÃÊ ÌiÀ >Ì > Ê,ià ÀÌ°Ê, }]Ê «i Ê> `ÊÌÀii`Ê > `ÊÜ Ì Êà iÊÃÌÕ }Ê > > > >Ê > iÊ Û iÜðʣnäÊ>VÀiÃÊ ÕÌÊ vÊ ,°Ê $6,495,000ÊÊÊ - ® COMMERCIAL/INDUSTRIAL UÊÊ°x£Ê iÛi Ê>VÀiÊâ i`Ê £Ê } ÌÊ `ÕÃÌÀ > °Ê£n½ÊÝÊÎä½Êà «Ê> `ÊÎÊ L`À Ê ÕÃi°ÊÊ V>Ìi`ÊLiÌÜii Ê ` Ü Ì Ü Ê> `ÊÞ>V ÌÊV ÕLÉL >ÌÊ >Õ V °Ê `i> Êv ÀÊÜ>ÌiÀÊL>Ãi`ÊLÕà iÃÃ°Ê iÝÌÊÌ Ê> À« ÀÌ°Ê $688,000 UÊÊ7>Ài ÕÃiÉà «\ÊÊ,>ÀiÊw `Ê Ê-ÌÀ>Ì>ÊÕ ÌÊ Ê `ÕÃÌÀ > Ê-iVÌ ÀÊ vÊV ÌÞ°ÊÓxÊÝÊ{ä½ÊÜ À ë>ViÊ « ÕÃÊ vwViÉ iââ> i°Ê"Ü iÀÊ >ÞÊ i>ÃiÊL>V °Ê $298,000.Ê

Property taxes too high? • Is your Property 2011 Assessment value fair? • Is your assessment value equitable? • Is your property tax classi

fication correct?

• Have you received all available property tax exemptions? • Should you

file an appeal?

Deadline for appeal is May 2, 2011 With over 20 years of property assessment appeal experience, PacWest Commercial Real Estate Advisors specialize in the annual Review and Appeal of property assessments, property tax minimization strategies as well as Property Transfer Tax appeals throughout British Columbia. Proactive Service, Proven Results Tim Down, AACI, P. APP, CAE, RI(BC) Property Tax Services

UÊ°ÎÎÊ>VÀiÊÜ Ì ÊvÕÌÕÀiÊV iÀV > ÊÕÃi°Ê ÕÃÌÊ> iÝi`Ê Ì ÊV ÌÞ°Ê } ÊÛ Ã L ÌÞ°Ê" ÊÀ >`ÊÌ Ê- Ê ,ià ÀÌ°Ê$349,900 UÊ iÀV > É,ià `i Ì > Ê Õ ` }\ÊÓxääÊõ°vÌ°ÊÃÌ ÀivÀ ÌÊ« ÕÃÊ vÕ ÞÊ`iÛi «i`]Ê`i Ã>L iÊ L>Ãi i ÌÊ> `Ê{ÊÀià `i Ì > ÊÃÕ ÌiÃÊ>L Ûi°Ê } ÊÛ Ã L ÌÞÊ Ê` Ü Ì Ü ÊV Ài°Ê > iÊ>V ViÃðÊÊ `ÊV ` Ì °Ê+Õ V Ê* ÃÃiÃà °ÊÊ*À v À >Ê ` V>ÌiÃÊÇ° Çx¯ÊV>«ÊÀ>Ìi°ÊfÈn ]äää UÊÊ i>À ÞÊÎÊ iÛi Ê>VÀiÃÊ ÊvÀ Ì>}iÊÀ >`ÊÜ Ì Ê } ÊiÝ« ÃÕÀiÊÌ Ê } Ü>Þ°Ê/i Ê ÕÌiÃÊÌ ÊV ÌÞÊ Vi ÌÀi°Ê `i> Êv ÀÊ > Õv>VÌÕÀ }ÊLÕà iÃðÊ* > ÃÊv ÀÊLÕ ` }Ê>Û > >L i°Ê$888,000ÊÊÊ - ® UÊÊ{°ÈÓÊ iÛi Ê>VÀiÃÊ `ÕÃÌÀ > Ê > `°Ê{ä]äääÊõ°vÌ°Ê ÊÌÜ ÊL `}ðÊÎÊ« >ÃiÊ« ÜiÀ°Ê ÓÊâ }°Ê ,> Ü>ÞÊ/À>V >}i°Ê ÕÀÀi Ì ÞÊ «iÀ>ÌiÃÊ>ÃÊà > ÊÃ>Ü ÊEÊÜ `ÊÀi > Õv>VÌÕÀ }Ê« > Ì°Ê £äÊ ÃÊvÀ Ê6iÀ Ê>` >Vi ÌÊÌ ÊÀi>`ÞÊÃÕ«« ÞÊ vÊ` i à > Ê Õ LiÀ°Ê$2,250,000ÊÊÊ -® UÊÊ,>ÀitÊ >À}iÀÊ-iÀÛ ViÉV iÀV > Êà ÌiÊ `i> Êv ÀÊi `ÊÕÃiÀÊ ÀÊÃÕL` ÛÊ Ì Êà > iÀÊ ÌðÊn°ÓÊ >VÀiðÊ< }Ê> ÜÃÊv ÀÊ ÌÃÊ£ä]nääÊõ°ÊvÌÊ> `ÊÕ«°Ê Õ ÞÊÃiÀÛ Vi`Ê>Ài>°Ê VViÃÃÊvÀ ÊÓÊ ÀÊÊÎÊ À >`Ã°Ê Õ Ì ÌÕ`iÊ vÊÕÃiÃÊ V Õ` }ÊÀià `i Ì > Ê>L ÛiÊ > Êy À°Ê- iÊ« Ìi Ì > ÊÛ iÜÃÊ ÛiÀÊ } vÊV ÕÀÃi°Ê$5,750,000 -® MULTI-FAMILY SITES UÊÊ£°{Ê>VÀiÃÊ ÊÌÜ ÊÌ Ì iÃÊqÊâ i`Ê,xÊ Õ Ì v> Þ°Ê+Õ iÌÊv> ÞÊ i } L ÕÀ `Ê>` >Vi ÌÊÌ Ê *>À °Ê$750,000ÊÊÊ -® RETIREMENT COMMUNITY – PLAN NOW! UÊ7i V iÊÌ Ê `ÃÌÀi> Ê i>` ÜÃtÊ 6 -/Ê Ê Ê* Ê9"1,Ê, / , /Ê>ÃÊ ÌÊÃ Õ `Ê Li°Ê i ÕÝiÊV ` Õ ÃÊÃiÌÊ ÊÓÎÊ« VÌÕÀiõÕiÊ>VÀiÃÊvÕ ÞÊiµÕ « «i`Êv Àʼ>} }Ê Ê« >Vi½°Ê À> `Ê iÜ]Ê ÕÝÕÀÞÊÊV ` ÃÊÜ Ì ÊvÕ Ê ÌV i Ã]Ê >Õ `ÀÞ]Ê«À Û>ÌiÊ «>Ì Ê ÀÊ`iV Ã]Ê ÊvÌÊVi }ðÊÊ 1 `iÀ}À Õ `Ê«>À }]Ê,6Ê> `ÊÃV ÌiÀÊ«>À }Ê> `Êà ÕÌÌ iÊÃiÀÛ Vi tÊ ÞÊÌ iÊ Àià `iÊ Õ }i]Ê}> iÃÊÀ Ã]Ê LÀ>ÀÞÊEÊV «ÕÌiÀÊÃÌ>Ì Ã]Ê > ÀÊÃ> ]Êw Ì iÃÃÊÃÌÕ` ]Ê Õà Ê}À Õ `ÃÊ Ü Ì Ê}>À`i Ã]Ê` }Ê«>À °Ê"«Ì ÃÊ V Õ`iÊv `ÊÃiÀÛ Vi]Ê ÕÃi ii« }Ê> `Ê >Õ `ÀÞ°ÊÊ vi iÊ «i `> ÌÊÃiÀÛ ViÊÜ Ì ÊÓ{ÉÇÊi iÀ}i VÞÊÀië ÃiÊ> `Ê Ã ÌiÊÃÌ>vv°Ê ,i Ì>L itÊ À Ê$299,000

1-800-317-1118 or 1-250-549-7050 PacWest Commercial Real Estate Advisors T: 866-764-9147 F: 1-866-372-7172 E-mail: tim@pacwestrealestate.ca Web: www.pacwestrealestate.ca

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

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

Interior British Columbia B7

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com 8)"5¤4 )"11&/*/( */

ortgage lenders in B.C. are seeing an uptick in applications as residential buyers attempt to get loan approvals before new mortgage rules coming into effect March 18, according to Canadian mortgage professionals. As of March 18, 35-year amortizations will B Richard Ellis (CBRE) managing direc- disappear on high-ratio insured mortgages. At the same time, the limit on insured refinances tor Mark Renzoni described January will drop to 85 per cent of loan-to-value ratio, as the busiest month for sales of Metro from 90 per cent. The deadline to have a Vancouver industrial properties in several mortgage qualified under the old regulations years while setting the stage for panellists is March 17. at the recent breakfast of commercial real “Thus far, we’ve heard multiple lenders estate association NAIOP. reporting above-normal mortgage volumes. The activity follows a year in which sales transactions approached the peak reached in These elevated volumes will likely continue for the next seven weeks, culminating in an 2007, when 567 deals were completed. CBRE expects the number of deals done this year to especially busy stretch from March 14 to 17,” said the report from Canadian Mortgage approach 500 and top $700 million, up from Trends. 474 in 2010 valued at $680 million. The new rules do not apply to the majorStrata sales have been a particularly strong ity of buyers who take a traditional 25-year element in the market, while the industrial amortization or do not require Canada land market is staging “a very slow and cautious level of improvemen t,” Renzoni told his Mortgage and Housing Corp.-insured mortaudience. Strata units are selling at from $115 gages. Banking officials estimate that the amorto $130 per square foot. tization reduction will impact at least 2,000 Industrial vacancies are projected to dip home buyers this year in B.C. from a year-end rate of 5.1 per cent regionwide to less than 5 per cent this year. “We’re not going to see a lot of supply, and cap rates are going to continue to compress,” Darren Cannon, senior vice-president with Colliers International, told NAIOP members even as he acknowledged, “It’s going to take a while to clean up this mess the leasing market hompson Creek Metals Co. Inc. has is in right now.” completed its purchase of Terrane While less-desirable assets may languish Metals Corp. in a cash and stock purchase for a while, their time will come so long as deal valued at approximately $700 million. demand for industrial product continues to The deal means that Thompson Creek now be strong, said Rob Gritten, a principal with owns the $917-million Mount Milligan mine Avison Young. An ongoing supply of cash at northwest of Prince George. Thompson already 4.5 per cent to 4.65 per cent will help keep operates the Endako molybdenum mine west transactions moving, which will favour inves- of Prince George. tors, he said. The Mount Milligan mine, with a forecast “There are deals being done, and at prices life of 15 years, is expected to create 400 higher than you might think they are being jobs. Between 200 to 600 workers will also be done at,” Gritten said. needed during the mine’s two-year construc– Peter Mitham/BIV tion period.◆

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armland owners near Dawson Creek say they are being denied an opportunity to cash in on giant gas plays due to B.C.’s Agricultural Land Reserve (ALR). “You can’t make it on farming; it’s too hard,” said Rick Pavlis, whose family owns 5,000 acres of agricultural land. “I’m focusing on oil and gas.” That’s because energy companies from Alberta and the U.S. are moving into Peace Country to cash in on its rich shale gas reserves, setting the stage for a massive development rush. Many farmers in the region hope to use their abundant land and heavy equipment to serve the industry and generate income outside of the Drilling for natural gas in northeast B.C.: some farmers missing out. growing season. But the Agricultural Land Commission, which governs B.C.’s ALR, often won’t let farmers subdivide their property or set up a business that’s not directly related to farming. Pavlis said he applied to have 20 acres of his land taken out of the ALR so that he could expand his second business, but the commission wouldn’t allow it. Farmers across northeast B.C. face a similar situation, he said, and many believe income from the oil and gas industry could help them keep their farms afloat. Pavlis said a lot of farmers have set up second businesses in spite of the commission’s rules. “Everybody’s doing it,” he said. “There’s a gold rush here; there’s an opportunity and people are saying, ‘F**k the agricultural land reserve, we’re doing it anyhow.’” In an interview, land commission chairman Richard Bullock said he doesn’t believe there are that many illegal businesses operating in the northeast, although he conceded that “some are possible.” Even if they do exist, Bullock said the commission is too cash-strapped to pay for the resources it needs to ensure everyone is playing by the rules. “We’ve been cut pretty severely in the last number of years, and our ability to do our job and do it well has been stretched,” Bullock said. “We’re getting to the point where we’re having a tough time meeting our mandate.” Speaking on the condition of anonymity, one farmer near Dawson Creek said he operates a rental equipment business on his land that is in direct contravention of ALR rules. He wouldn’t be able to afford his farm without the second business, the farmer said, and the rental business doesn’t interfere with his farm’s production. “Our farm grows just as many hay bales as it did before we started our oilfield business,” the source said. “We haven’t decreased our agricultural production by one blade of grass, but we have created full-time jobs for seven people.” Paul Gevatkoff, spokesman for Citizens for Agricultural Land Reform, said droughts in the northeast have made it especially tough on farmers in recent years, generating more discussion about changes that could be made to the ALR. Gevatkoff’s group, now with 50 members, has called for a five-year moratorium on the ALR east of the Rocky Mountains. – Joel McKay/BIV Photo: Horn River News

Buyers beat new #SJUJTI $PMVNCJB mortgage rules M Industrial strength competition

B8 Interior British Columbia BUSINESS AND INVESTMENT OPPORTUNITIES

FARMLAND OVER 85 ACRES of very productive level farmland in Deroche. Area of large dairy farms. Loam type of soil. Ideal for corn, hay, potatoes, small fruits, etc. 4 titles to the property. Asking $40M / acre

WALTER ESAU ESAU 1-604-792-0077 1-888-427-3496

Call

UĂŠĂŠ >Ă€}iĂŠ >V…ˆ˜iÉ7iÂ?`ˆ˜}ĂŠ-Â…ÂœÂŤĂŠ – Suitable for investor or owner/operator. Includes land & buildings. fĂ“°Ă“xĂŠ ˆÂ?Â?ˆœ˜ UĂŠĂŠ Â˜Ă›iĂƒĂŒÂ“iÂ˜ĂŒ – 4 units in 1 building, established tenants with commercial tenants in place. $319,000 UĂŠĂŠ ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ĂŠ iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒĂŠ >˜` - 130 acres, with highway and railroad access. Reduced to $995,000 UĂŠĂŠ ÂœÂ?vĂŠ ÂœĂ•Ă€ĂƒiÉ iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒĂŠ >˜` – 162 acres, deluxe residence. BC Interior location. UĂŠĂŠ œ““iĂ€Vˆ>Â?ĂŠ Ă•ÂˆÂ?`ˆ˜}Ê– 2 tenants - plus storage + fenced compound - 8.5% cap rate on asking price of $450,000

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

KELOWNA & OKANAGAN ACREAGES VERY PRIVATE 4.42 Acre Estate on South Thompson River Approx. 15 minutes drive east of Kamloops next to River Shore Golf Course. Beautiful custom built rancher with 6 bedrooms, 3,360 sqft, vaulted ceilings, large kitchen with 4x8 Island + formal dining room & living room with rock ďŹ replace. Master bedroom has 5 piece ensuite. Designed to take in the southern exposure & peaceful river views! Enjoy the large patio area with water fountain & inground pool. 573 ft river frontage with boat dock. $1,350,000 MLSÂŽ

DWIGHT VOS WHEELER CHEAM REALTY

KAMLOOPS, BC & AREA UĂŠTumbler Ridge, BC – 2 commercial strata units 1438 sq ft and 3060 sq ft plus basements.ĂŠĂŠĂŠ ĂŠ $291,000 & $439,000 UĂŠĂŠKamloops – 4000 sq ft building ½ acre lot, commercial mix. High trafďŹ c area ĂŠĂŠ $788,000 or lease @ $12.00 triple net UĂŠĂŠClearwater, BC – Chinese restaurant land, building, Âź acre lot, equipment, liquor license, 4 bedroom suite. ĂŠ $289,000 UĂŠBarriere, BC – 5 unit mini mall plus full basement, hwy frontage, plus vacant lot to expandĂŠ $399,900 UĂŠĂŠKamloops – Pasta restaurant, 90 seats, all equipment, dishes, glasses, silverware, talbes, chairs. Good lease.ĂŠĂŠ $110,000 $50,000 UĂŠĂŠChase, BC – Pub liquor store, restaurant on main oor. 14 rooms on 2nd oor which need substantial work reected in price.ĂŠ ĂŠ Super buy $600,000 UĂŠĂŠKamloops – Franchise hair salon in largest mall. Great for hair stylist/owner $129,900 UĂŠĂŠKamloops– New ofďŹ ce retail building to be built. 3414 sq ft make great professional ofďŹ ce in busy residential sub div. $2668.00 plus triple net lease UĂŠĂŠClearwater, BC – Former school 11,000 sq ďŹ t with full gym 22 ft ceilings, make great church, school hall or? All on 6 acres. $399,000 ĂŠUĂŠĂŠKamloops – INVESTORS – 8% Cap rate restaurant. Fronting E Trans Canada Hwy. Leased out. $8,000/mo triple net. $1,200,000

Call MARVIN MATT

1-888-374-3022 ""*-ĂŠ, /9ĂŠ / °

mmatt@shaw.ca

www.realestatekamloops.ca

Western Investor advertisers tell us: “Response has been good, service is great and the phone keeps ringing.�

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

DAVID JUROME 250-862-1888 www.davidjurome.com

SUPER 8 WINFIELD:

Super 8 Winfield. Above standard 40 unit 4 year old motel with L/Q’s. The new highway announcement $77M project three year project. Will be very good for business. May look at small trade. INTERIOR 15 ROOM MOTEL:

Interior 15 room motel extra land lots of upgrades in the past two years. Large L/Q’s. Asking $530,000 70 UNIT INTERIOR MOTEL:

70 unit full service interior motel tour booking for 2011. Close to Jasper Park. Many upgrades in 2010. May look at trades. Asking $4,888,000 17 UNIT UPGRADED MOTEL:

Close to Vancouver 17 unit upgraded motel with large separate ďŹ ve bedroom L/Q’s Numbers going up each year. Owner is purchasing a larger propertY. Open to offers. Asking $729,999 PENTICTON 21 UNIT MOTEL:

Penticton 21 unit motel, three bedroom living quarters. Price reduced. You couldn’t buy a nice house for this price. Asking $800,000

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RADIUM 20 UNIT MOTEL:

Radium 20 unit motel with variety of rooms plus separate cabins. Separate living quarters plus a self contained suite. Owner wants it sold.

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SEVERAL EXCLUSIVE QUALITY PROPERTIES LISTED. CALL FOR INFO.

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www.premierhotelsandmotels.com

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Jerry Dombowsky 1 877 717 1886 Premier Canadian Properties

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Mike Melnyk, Century 21 West-Man

“Excellent.â€?Gil Dobroskay, JJ Barnicke “I’ve received excellent response‌ better than the Internet.â€?

Join hundreds of commercial real estate professionals and business people who use the Western Investor every month to market their properties, services and business opportunities. Targeted editorial and distribution pattern equate to results not found elsewhere.

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Check out our media kit on-line at westerninvestor.com for more information or call us at 604-669-8500. Advertising deadlines are mid-month for the next month’s issue.

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$0..&3$*"- 3&"- &45"5& '3"/$)*4&4 "/% #64*/&44 0110356/*5*&4

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

MOTEL

Kamloops, BC 67 units Restaurant Indoor Pool For Sale by Owner s #ENTRAL DOWNTOWN LOCATION s !CROSS STREET FROM REGIONAL HOSPITAL AND COURTHOUSE

Interior B.C./Business Opportunities B9

North Okanagan Security Alarm Company Sales, Service, Monitoring Established 25 years High returns Recurring revenues Rapid growth $100,000 plus income

FOR SALE: PRINCE GEORGE Asking $1,058,000 Investment Property Fully leased Triple Net Cap-Rate on the asking 7.99% AGASSIZ, B.C. Asking $950,000 105 Seat Restaurant with Land and Building Fully licensed & air conditioned Doing excellent business For more info call Dimitrios Nivolianitis 3010 Boundary Road Burnaby BC V5M 4A1 s #ELL %MAIL DNIVOLIANITIS SUTTON COM

CALL 250-804-3080

Sutton Centre Realty

s 3TRONG ESTABLISHED CLIENTELE 100 MILE HOUSE GREAT FAMILY BUSINESS REDUCED PRICE! $25,000

s #OMPLETELY RENOVATED WITH UP TO DATE FURNITURE AND lXTURES s )NCLUDES SQFT VACANT CORNER LOT FOR EXPANSION OR NEW DEVELOPMENT s -ANAGER AND STAFF APARTMENTS ON SITE

$5,200,000 Will cooperate with realtors

250-371-1055

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

CARIBOO PUMP & WATER *SALES *SERVICE *INSTALLATIONS s 7ATER PUMPS PRESSURE SYSTEMS IN DOMESTIC WELLS WATER TREATMENT CENTRE PLUMBING REPAIRS WATER HEATER REPLACEMENTS

Owners willing to train!! Optional equipment & stock available $/7.4/7. ,/#!4)/.

Call Gordon and Laverne Sharp 250-395-3030 or 1-877-395-3003

Each office is independently owned and operated.

Attention

VERNON, B.C.

SICAMOUS, BC

OSOYOOS

3304 - 33rd Avenue

Agents:

REACH QUALIFIED BUYERS FOR YOUR LISTINGS call Gary

Takahashi

toll-free: 1-800-661-6988 tel: (604)

669-8500 or fax: (604) 669-2154 gtakahashi@westerninvestor.com

DBQ SBUF TR GU CVJMEJOH -POH 5FSN -FBTF

4708 - 34th Street 1SJNF 0LBOBHBO *OWFTUNFOU 0GGFSJOH /FX TR GU CVJMEJOH PO BDSF 'FEFSBM (PWFSONFOU BOE 4USPOH 3FUBJM 5FOBOUT

3200 - 30th Avenue *O UIF )FBSU PG %PXOUPXO 7FSOPO 0WFS TR GU 0OF PG UIF CFTU MPDBUJPOT JO 7FSOPO STEWART PEARSON TUQFBSTPO!TIBX DB GARY FRANCKS HBSZ!WFSOPOSFBMFTUBUF DPN

1-800-667-2040 1- 250-549-4161 3& ."9 7FSOPO

1305 RAUMA AVENUE, SICAMOUS, BC. Commercial Gold! Solid concrete block multi-unit building with excellent Trans Canada exposure. 6969 sq. ft. on .61 of an acre. Large open spaces with numerous possibilities. 3 commercial leases plus 1500 sq. ft. residence. All but one space is rented! Lots of parking, town sewer at the lot line. MLSÂŽ10004665 $799,000.00

6015 LAKESHORE DRIVE $849,000 MLSÂŽ Prime corner lot with over 300' of Hwy 3 frontage across from the Best Western & Rattlesnake Canyon Amusement Park. C3 zoning with 2,340 sf metal clad building, office space above set on .70 acre fenced flat lot. Consider for gas bar, convenience store, auto sales & repair, restaurant etc. Excellent exposure for any business.

8121 MAIN STREET $649,000 MLSŽ 1201 SHUSWAP AVENUE SICAMOUS, B.C. Prime commercial town centre corner property! 3770 sq. ft., 2 lots, .50 of an acre. Secure fenced area with 6’ metal fence. 1 block from public beach and boat launch. Great tenant! Recent renovations! MLSŽ10016270 $429,000.

Personal Real Estate Corporation

charlotteh@cablelan.net www.charlottehutchinson.com

MARY IHME RE/MAX Realty Solutions email: maryihme@remax.net website: www.maryihme.com

Charlotte Hutchinson 1-800-582-8639 250-833-6545 cell

.31 acre downtown lot includes main level commercial and up to 3 more stories for multi family residential use permitted. C1 downtown commercial zoning-plans available showing 18 residential units approved in 2006. Located across from Watermark Hotel, some lake views.

RE/MAX at Mara Lake, Sicamous

Office: 1-250-495-7441 Toll Free: 1-866-495-7441 8507 Main Street, Osoyoos BC V0H 1V0

Each office is independently owned and operated.

B10 Northern British Columbia

Sicamous, BC

Multi-Unit Residential 10 Unit Residential Townhouse Property. Gross revenue of $88,800/yr. Annual expenses: taxes $5,080, water/sewer $4,000, insurance $950. Asking $890,000 (sold in 2007 for $1,000,000). Potential to stratify units for resale. Email tekamar@telus.net or call 1-800-658-2345

Invest

DAWSON

in

PRINCE GEORGE

Kimberley BC; 5 +-acres approved for duplexes and multi family. View at www.kimberleycrossing.ca Asking $1,950,000

VTB considered for qualiďŹ ed buyers.

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

DAWSON CREEK COMMERCIAL EXPERTS

Rare waterfront opportunities ‌ Ideal for recreational / residential subdivision or enjoy as your own personal retreat Parcel 1 - 55 acres, 3 titles $545,000 approx 1650’ of lakefront, easy access Parcel 2 - 26 acres, 2 titles $365,000 approx 1450’ of lakefront, hwy access

FOR SALE OR LEASE 5040 sq ft building on busy Alaska Ave. Many uses, drive thru availability, lots of parking, next to government liquor store. Owner will consider dividing building into two rental units. Priced at $795,000 or 17.50 sq ft to lease.

ED

#8947: PRIME OFFICE BUILDING in downtown Dawson Creek, 2,700 sq. ft., 10 offices, boardroom, excellent parking. Asking only $10.00 sq ft.

LEAS

#9034: HILLSIDE VILLAS (22 SOLD- ONLY 2 LEFT) Brand new condos (total 1,917 sq ft each), 6 appliances, 2 bdrms & den up, full bsmt, well priced at $199,000+ $209,000. Great location & view of Dawson Creek, would make an excellent rental. Last phase & only 2 units left. Available immediately! #9690: INDUSTRIAL LAND - 27 acres of Industrial land on Bi-Pass (Dangerous goods) Highway. Approx 5 acres already fenced & graveled, all services are available, over 1000 ft of Highway frontage. Prime location across from the new Cal-Frac location & the Ferus nitrogen plant.

L A N D #9635: RESIDENTIAL DEVELOPMENT LANDS, 3 separate parcels 25, 79 and 116 acres. Superb location, the timing is right as we are expecting thousands of new people in the near future.

7.3 acres along the Nechako River $545,000 zoned res - not in the ALR - subdividable picturesque with a lovely mix of trees hydro and driveway on property

#9593: COMMERCIAL BUILDING WITH BEER AND WINE STORE for sale (gross sales of $2,000,000). Great location in Dawson Creek, also 40 apartments, bar/restaurant area and commercial space. Asking $3,500,000. Call for more info.

robert.herman@sterlingmgmt.ca

Approved development sites; Dawson Creek BC, +- 15.8 Acres mixed use, single family, duplexes and multi family, engineering completed. View at www.Dawsonhills.ca. Asking $1,450,000

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

RE/MAX DAWSON CREEK REALTY 1-888-214-5871

Call Sterling Management Services Ltd 250-785-2829 Ask for Robert Herman

DEVELOPMENT OPPORTUNITY!

CREEK

www.dawsoncreekrealestate.ca

FORT ST JOHN FOR SALE STRIP MALL s !PPROXIMATELY SQ FT s &IVE SPACES 'ROSS INCOME PER YEAR s 4OTAL EXPENSES 4AXES INSURANCE MANAGEMENT APPROX s !SKING PRICE ASSET SALE OR SHARE SALE

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

Riverfront Townhouse site $575,000 1.76 acres - approx 263’ of riverfront zoned RM1 - multiple residential preliminary drawings for 13 townhomes

#9257: THE SOUTH PEACE UNITED CHURCH IS FOR SALE. OVER 11,000 SQ. FT. - Sanctuary, hall, kitchen, ofďŹ ces, and support services. Excellent corner location, zoned commercial, very good condition, ready for an ofďŹ ce conversion.

Residential Development Opportunity 13 lots - 1.1 ac located adjacent to Connaught Hill Park - walk to downtown zoned RS2 - single detached housing

Elaine Kienzle 250

psalgado@westcastle.ca or psalgado@westcastledevelopments.com

563-8769

www.elainekienzle.com

EVERGREEN INDUSTRIAL SUPPLIES Smithers, BC $2.1m s !SSET SALE INCLUDES l XED ASSETS PLUS INVENTORY M M s 'ROSS SALES APPROXIMATELY s SG LEASED LOCATION ON ACRES WITH HIGHWAY EXPOSURE s 0RODUCT LINES INCLUDE 3KIDOO 3TIHL #AN!M AND *OHNSERED s %XTENSIVE HYDRAULIC WIRE ROPE TOOLS AND SAFETY RELATED PRODUCT s 3ERVICING FORESTRY SAWMILLS MINING AND RECREATIONAL IN .ORTH CENTRAL "#

NORALEE RESORT ON FRANCOIS LAKE (Land and business) $689,000 s ACRES WITH GOOD ROAD ACCESS AND APPROX g LAKE FRONTAGE s SEAT RESTAURANT WITH SG BEDROOM RESIDENCE s )NCLUDES RENTAL UNITS IN CABINS AND FULL SERVICED 26 SITES s 3MALL CHURCH ON THE LAKE IS IDEAL FOR PRIVATE WEDDINGS REUNIONS s $ESTINATION RESORT SINCE S AND EXTENSIVELY UPGRADED

5 ACRES M-2 highway frontage (Smithers) $2M

LEO LUBBERS

Bulkley Valley

Cell s OfďŹ ce s Fax 250-847-9039

www.realestatesmithers.com lubbers@realestatesmithers.com

DEVELOPMENT LAND 48.75 acres of residential land inside the boundary of Dawson Creek. Great investment opportunity. Asking $750,000

SOLD

#7836: SUBDIVISION FOR MOBILE HOMES! Total of 39 mobile lots are possible on this 4.6 acres, zoning in place, some services are already in, 3 lots have been subdivided. Call for more info. Asking $300,000 #8755: STRATA LOT. Excellent location for a restaurant or high exposure franchise. Land only services plus paved parking for this 1/2 acre strata lot. Location is between the Pomeroy Hotel and Best Western overlooking the highway. Asking $295,000 #8664: COMMERCIAL LOT in downtown location, good central location next to dentist ofďŹ ce, across from doctor's ofďŹ ce, and optometrist ofďŹ ce. 45 x 120, great location for professional/medical ofďŹ ce.

SOLD

Near Costco & Future Shop $78 9,500 1/2 ac with 3664 sq ft building plus bsmt zoned M3 - Business Industrial high traffic, high profile location

403-701-9844 or

#8077: ONE ACRE OF MULTIPLE RESIDENTIAL LAND suitable for 37 unit apartment or condo complex. Across from the hospital in a prime residential area of Dawson Creek. $179,000

#7545: NEW STRIP MALL has 4 available spaces left for lease, 1,750 sq ft each. Great location on 8th street between Tim Horton’s & The Brick. Lease rates start as low as $16/sq. ft Start your business here.

#7066: LOCATION, LOCATION, LOCATION 0.74 acres at the intersection of 17 Street and Alaska Highway. Ideal location for strip mall, service station, etc. #7441: 80 ACRES OF INDUSTRIAL LANDwith highway frontage, railway tracks, water and sewer in the City of Dawson Creek. Asking $31,250 per acre

Subscribe OVER $2.5 BILLION WORTH OF INVESTMENT OPPORTUNITIES EVERY MONTH FIRST CLASS DELIVERY â?? One Year .............$42

Name Title Company

â?? Two years ............$75 â?? Three years .......$105 Bill my:

â?? Visa â?? American Express â?? MasterCard â?? Cheque enclosed

GST Registration No. 10565567 GST Included

Address City Prov Postal code Phone

Fax E-mail

Credit Card No. Expiry Signature

FAX BACK TO 604-669-2154 OR CALL 1-800-661-6988

$42 could make you millions!

Northern British Columbia B11

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

Burns Lake

Smithers BC !

BUSINESS OPPORTUNITY

For Sale

s SQ FT DEVELOPMENT LAND s (IGHWAY FRONTAGE s :ONED 3ERVICE #OMMERCIAL s -OTIVATED SELLER

Commercial Package Prime Location, High Visibility High TrafďŹ c Area 1st Building has two tenants 2nd Building is vacant 3rd Lot is vacant and can be developed. Great Investment Opportunity

SKI SMITH ERS

Burns Lake and Area Representative

DENNIS BOCK

www.sandrah.biz

2E -AX "ULKLEY 6ALLEY s INFO SANDRAH BIZ s CELL s OFl CE

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PRINCE GEORGE

250-692-3530 www.landahome.ca

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— Your PRINCE GEORGE Commercial Professionals — 9242 Milwaukee Way 23,240 sq ft Industrial Building on 3.88 Acres.

FOR SALE

1550 - 1st Ave .................................... N4504391 ..........44,080 sq ft warehouse ................$3,750,000.00 1440 - 2nd Ave .................................. N4504001 ..............5,386 sq ft ofďŹ ce ............................$450,000.00 1108 Boundary Rd ............................. N4504492 ..............9,000 sq ft warehouse ........................................

1440 – 2nd Ave. Quality extremely well maintained 5,386 sq ft OfďŹ ce Building. Professional Tenants.

“The Bridal Outletâ€? .............................. N4504557 ..............business only ..................................$125,000.00 9242 Milwaukee Way ....................... N4504594 ..............23,240 sq ft warehouse................$2,300,000.00 2493 Perrin Heights .............................. N196245 ..............Residential land................................. $45,000.00 "Bee Lazee RV Park". ..........................N4504404 ...............Business/land/buildings .................$1,500,000.00 2222 Balsam Ave. – Quesnel ............ N4504291 ...............14,000 sq ft warehouse/ofďŹ ce ...........$779,000.00 9368 Milwaukee Way ......................... N4504301 ...............31,640 sq ft warehouse ................ $2,500,000.00

Zoned C-2 (Highway Commercial)

1921 Upland St...................................N4504330 ..............12 unit multi-family .......................... $850,000.00

770 Brunswick St – FOR LEASE

508 George St. ................................ N4504232 ...............retail (restaurant) .......................... $2,000,000.00

Highend RETAIL space. Located in Prince George’s

'Domano Florists' ................................N4503630 ...............Business Only ..................................$120,000.00

premier Hotel lobby. Gross rate Lease. 492 sq

971 Hart Hwy .................................... N4503912 ...............Land - 5.02 Acres ........................... $350,000.00

ft Zoned C-5.

Lot #1 Atwood Rd. ..............................N4504036 ..............Land - 78.8 Acres ........................... $850,000.00

Fraser Lake Fraser Lake municipal development park. Commercial and Industrial lots.

Zoned M-1 (Light Commercial)

4986 Hartway Dr................................N4504045 ...............Land - 0.31 Acres.............................. $80,000.00 5008 Hartway Dr ...............................N4504046 ...............Land - 0.263 Acres............................ $70,000.00 Fraser Lake, B.C. ..........................N4504181-4194 ..............Land .................... Industrial/Commercial varying Chief Lake Rd...................................... Sub-lakeshores land ...................................................$20-35,000.00 26485 Telegraph Rd. – Vanderhoof .... N4504362 .............539 Ac. Residential ....................... $700,000.00 996 Central St. ................................... N4504419 ..............LAND ............................................ $190,000.00

‘Bee-Lazee RV Park & Campground�

978 Central St. ...................................N4504420 ...............LAND ............................................$185,000.00

FOR LEASE

A 49 pad campground, plenty of room for expansion and a modern 2,000 sq ft bungalow on 77 Acres.

1644 & 1842 - 1st Ave ................ N4503867 .............13,500 - 17,000 sq ft ..............WAREHOUSE

www.beelazee.ca

481 - 3rd Ave ............................. N4504221 .............5,526 sq ft + 2,976 sq ft ............ INDUSTRIAL 1108 Boundary Rd ....................... N4504015 .............9,000 sq ft ............................... INDUSTRIAL

978 & 996 Central St

9809 Milwaukee Way .................. N4504147 .............2,945 sq ft ............................... INDUSTRIAL

Located on corner of 10th Ave and Central. Must be

9080 Penn Rd ............................ N4503984 .............25,660 sq ft ...........................WAREHOUSE

sold together. Value is in the land. Currently zoned

678 Vancouver St ...................... N4504034 .............1,985 sq ft ....................................... OFFICE

RS2, the City says can be re-zoned to C-4.

River Rd.

.................................. N4503911 .............19,224 sq ft ......................................RETAIL

3055 McGill Cres ........................N4504566 .............1,112 sq ft ....................................... OFFICE

9368 Milwaukee Way Located on 3.74 Acres, 31,640 sq ft major fabricating/manufacturing facility.

250-961-5478 RE/MAX Centre City Realty

www.pgcommercial.ca Each ofďŹ ce is independently owned and operated

Suite#251 – 1515 -2nd Ave...........N4504558 .............1,500 sq ft ..................................... OFFICE 770 Brunswick St. ........................N4504602 .............492 sq ft ...........................................RETAIL

KEN Goss

GEORGE Weinand

250-565-7653

250-960-9556

B12 Northern British Columbia Grocery Store For Sale

.05&- '03 4"-&

Busy neighbourhood grocery store with a full deli, bakery and produce. Located in Prince George, BC. Sale includes business, property and the building.

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www.westerninvestor.com MARCH 2011WESTERN INVESTOR

FORT. ST. JOHN LOCATION, LOCATION, LOCATION!

FOR LEASE

10004 - 94th Ave 2800 sq ft shop with ofďŹ ce/reception area. 1-10’ & 1-12’ door + mezzanine for storage. $549,900 MLS# N4504434

Approx 10 minutes from town. 4 ofďŹ ces. Shop has 22’ ceilings, 10 ton crane over in- oor steel tracks, 5 bays (1 drive through). $9.25/ sq. ft. MLS# N4504464

GREAT INVESTMENT PROPERTY

MOVE YOUR BUSINESS HERE!

6511 Wildmare Sub., Chetwynd 10,000 sq ft with ofďŹ ce/drive through wash bay. 8,000 sq ft leased until Nov/2011. 3.86 Acres. $900,000 MLS# N4504479

Great ofďŹ ce building w/attached shop for a small business. 3 OfďŹ ces + a walk-thru ofďŹ ce. 2 baths, upgraded ooring and paint. Shop has 2 overhead furnaces & 3 phase wiring. $384,900 - MLS# N4504196

RELOCATE & EXPAND HERE!

HIGHWAY FRONTAGE

9929 - Swanson Street

12672 Mukluk Frontage Rd. 2 buildings on .91 of an Acre with the 2 bdrm. and log structure grossing $2150/month. C-2 Zoning on Alaska Highway frontage $439,900 - MLS# N4504328

7142 – 252 Rd.

Interested? Please call:

"TLJOH 4IBSF 4BMF

250 964 9060

$BMM "MFY !

and leave message RECESSION PROOF BUSINESS

THRIVING TAXI COMPANY IN WILLIAMS LAKE, B.C. Only company in Williams Lake. Diverse business with contracts for CN Rail and Canada Post, WCB etc. Shares sale. Included: Land and Building, Cars and licenses. Business related equipment.

10.35 Acres, 12,500 sq ft Warehouse/Manufacturing Bldg, 5-18' overhead doors, 1-10 ton & 2-5 ton crane; ofďŹ ce bldg has 3 ofďŹ ces & 10 x 32 Atco trailer. $3,200,000 MLS# N4504450

10016 - 106th Street

KATHY MILLERCURTIS ROBINSON PERSONAL REAL ESTATE CORPORATION

Asking price $495,000 Over $750,000 Gross/year. Financial papers available on request. Call (250) 392-4056 or e-mail coral001@shaw.ca

FORT ST JOHN LIGHT INDUSTRIAL FOR SALE 5.73 ACRES LIGHT INDUSTRIAL Located by the city limits, close to airport, city amenities and major trafďŹ c systems. Suitable for business looking for yard space or location to build. Asking $498,000 MLSÂŽ N4504591

Remax Action Realty 1991 Inc.

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

The Power Of Partnership!

Look Here For

Your Next Investment Opportunity

FOR SALE 5.72 ACRES LIGHT INDUSTRIAL Great location for small business looking for a location to reside and do business. 1159sf house & 42'x78' shop Asking $890,000 MLSÂŽ N4504590

NORTH EAST BC REALTY Ltd. Investing Our Energy In The North RON RODGERS Managing Broker/Owner T: 250 785 4115 F: 250-785-4120 9912 100 Ave. Fort St John BC V1J 1Y5 www.northeastbc.com Email: ron@northeastbc.com

HOTEL

MISSION - 7 ACRES - $779,900 REDUCED IMMACULATE equestrian setup on a secluded and serene fertile acreage with access to small waterway for ďŹ shing, relaxing and eagle spotting. Renovated basement entry with beautiful maple kitchen, bay carousel eating area with million dollar mountain view, liv. rm, 3 large bdrms, 2 baths and room for extended family down with 2 bdrms, bath and kitchen.6 stall barn, 3 stall shedrow, 100 x 200 outdoor ring, 30 x 38 workshop, hay producing ďŹ eld plus grass and sand turnouts for horses. The property is fenced and xfenced and groomed to make your transition here effortless. Potential to run bed/bale/breakfast in this great location. You will not ďŹ nd any aws here - call today to view.

ABBOTSFORD - 2.5 ACRES - $699,900

Prince George, BC

Price $8,900,000.00

Located in the charming community of Arnold this diverse property will suit no matter what your needs are. All  at and usable and set up to house up to 14 horses, with two barns, turnouts, riding ring all drained and gravel footing. The home is a 7 bedroom basement entry well maintained with large kitchen to open dining and family room area and separate living room with beautiful red brick ďŹ replace (previous owner was a professional mason). Nothing left to do except move everyone in and enjoy. Easy to view - this is priced to sell fast. You will be impressed.

IRON CREEK LODGE - $699,000

120 spacious guest unit with full service hotel. Facilities for conferences, beautiful exterior with a relaxing indoor oasis. revenues are higher than the hospitality industry's average rates. Operates with non-franchise and well organized 100% unionized staff. Located on major Highway & minutes from the International Airport. Be proud to own this reputable Hotel Price of $8,900,000.00 Contact: John, C Nam Direct: (604) 805-9131 Fax: (604) 931-1209 Email: chungnamjohn@gmail.com Coldwell Banker Westburn Burnaby, BC Canada WESTBURN

50 Acres – Located at the B.C. Yukon border, on Iron Creek Lake which is stocked by the gov’t with rainbow trout. Facilities overlooking the lake include service station, 2 storey lodge with 50 seat restaurant, full kitchen, living quarters upstairs, 8 room motel, 2 room log cabin, 20 serviced R.V. sites...the list goes on. All buildings and services were installed from 1992 to present with approvals and built to code. Steady clientele with tour buses, car, truck and camping trafďŹ c, ďŹ shermen, hikers, snowmobilers, cross country skiers and local trafďŹ c. Priced to sell. Call for a full information package.

3!,-/. 6!,,%9 2!.#( s 02).#% '%/2'% !#2%3 Located 15 minutes east of Prince George, this fertile and picturesque ranch borders the Salmon River. Large acreages like this located close to major city centers are hard to ďŹ nd. Perfect opportunity to raise any kind of livestock and/or grow crops. Much of the land is already producing and fenced. Priced to sell - don't miss this opportunity to invest in your future. Call for more information.

For Professional, Personal and Prompt Service Call... Karren Winther and Nick Costantino Cell: 604-818-4888 604-857-1100 Cell: 604-818-0233 2% -!8 !LDERCENTER 2EALTY s &RASER (IGHWAY !LDERGROVE "# 1-888-341-1100 s %MAIL kwinther@uniserve.com

Alberta B13

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

INDUSTRIAL BAYS FOR SALE/LEASE "WBJMBCMF JO UIF 5BJHB /PWB *OEVTUSJBM 1BSL 'PSU .D.VSSBZ TR GU UP TR GU "7"*-"#-& /08

Call Mike George: 403-396-0026 or Bill Schoemaker: 403-391-2344

130 acres +/- zoned rural residential - 70% level grass & pasture, bal. woodland grazing. Presently de-commisioned game ranch, cadillac fencing & livestock handling equip w/40x80 shop & living quarters. Could be livestock, cattle/horses/exotics or private estate situated on twinned highway 5 miles west of West Edmonton Mall. Airstrip presently being developed, super grass, fencing, privacy or develop to suit market.

For More Information Contact:

www.property-solutions.ca

160 Acre Subdivision For Sale • SELLING UNDER APPRAISED VALUE • 10 min from the "2011 Boom City" of Grande Prairie, AB • Serviced Residential and Commercial Lots • New school in subdivision (K - 12) • Vendor ďŹ nancing possible • Partnership on development possible with qualiďŹ ed investor/ developer

CONTACT DEVELOPER DIRECT:

780.396.9487 HOTEL OPPORTUNITIES

EDMONTON LAND

BOBCAT DEVELOPMENT 780-722-4156

RICK D. JENKINS POLARIS REALTY

780-990-6120 cell Email: rdjri@telus.net Commercial Realtor

Vancouver Island Land & Business

Gibbons Commercial Land & Building

Strathcona County Land & Business

Country store with pet foods, animal feeds, garden supplies, convenience on ideal Trans Canada Highway location in Mill Bay, BC. Sales over $1M, perfect for owner operator.

Two tenants that have been in place for a long time. Good corner location on two lots. Attractive building. Great potential to ba a very good investment property.

2 buildings on 2 acres in Strathcona County. Restaurant with living quarters in one building furniture, gift, and antique store in the other building. Very little competition.

Highway #1 Location

Great Potential!

Dream Business

Clinton Alexander • Sterling Real Estate • 780.914.4807 www.clintonalexander.com • clintonalexander@shaw.ca

CITY OF GRANDE PRAIRIE FORMER YORK HOTEL/GERMAIN PARK DEVELOPMENT CONCEPT RFI-01-100-11

THE TIME IS

NOW!

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For further information, contact Gary & RenĂŠe Anderson Hospitality Sales Specialists Direct: 780-432-1408 contactus@andersonhotelsales.com www.andersonhotelsales.com CENTURY 21 A.L.L. Stars Realty Ltd. Office: 780.434.4700

15 UNIT apartment, west end, all ones, many renos- 6.07 cap. Call for proforma 23 UNIT apartment, University area, nice condition and 5.75 cap. Call for proforma 13,231 SF RETAIL STRIP in Leduc, AB. 5 bays with good long term tenants. 9 years old. NOI over $161,000 per annum. 7.4 cap at $2,180,000. 1.45 ACRE INDUSTRIAL in Nisku, AB close to Edmonton Intl. Airport. 3,900 sf newer warehouse with 18’ grade door. Fenced and graveled. Oilpatch is back and rocking! $1,100,000 1.45 ACRE INDUSTRIAL, 6,000 sf warehouse, 1,575 sf office, mezzanine, 25’ clearance, 5 ton crane with yard rails. Heavy power. Perfect for welding/sandblasting. $1,400,000 68 PAD MOBILE HOME PARK in High Level, AB fully serviced, paved roads, underground utilities, fenced and landscaped, bare land condo titles. MOTIVATED OWNER WILL CARRY 75% FINANCING FOR A QUALIFIED BUYER INTEREST FREE FOR UP TO 2 YEARS!!! MLS $1,295,000 Looking for investment properties for all ICI categories. Fully qualified buyers. Call now for your complimentary evaluation and allow my 21 years of banking and 13 years of commercial real estate experience to assist you!

Business and Investment Opportunities

'&"563&% )05&-

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INVESTMENT PROPERTIES

To Buy in Edmonton's International Region! •131 Acres of zoned Industrial land adjacent to industrial lots for sale in Spring/Summer.

REQUEST FOR INFORMATION FORMER YORK HOTEL/GERMAIN PARK DEVELOPMENT CONCEPT RFI-01-100-11 The City of Grande Prairie is seeking Request for Information (RFI) for development concepts for the former York Hotel and/or Germain Park lands. The RFI must address the following principles: • The proposal meets the concepts within the Downtown Enhancement Plan and Municipal Development Plan, • Explain the overall financial benefit to the City, • Project timelines, • Developer’s experience in projects of this nature, including ability to complete, and proven financial expertise and further, • Explain the increase in density of the proposal and impact on activity in the Downtown. Four (4) copies of your submission will be accepted at the Purchasing Department until 2:00 p.m. local time Friday, April 8, 2011. Responses can be hand delivered or mailed to the Purchasing Department. The responses must sealed and clearly marked with RFI name and number. Contact the purchasing office for general information and a copy of the Request for Information document, which includes the criteria that development concepts must meet to be considered suitable. Courier Address:

City of Grande Prairie 1st Floor, City Hall 10205 – 98 Street Grande Prairie, AB T8V 2E7

Mailing Address:

City of Grande Prairie PO Bag 4000 Grande Prairie, AB T8V 6V3

SUBMISSION INQUIRIES: R.D. (Bob) MacNeill Purchasing Administrator Phone: 780-538-0344 Fax: 780-538-4880 Email: purcont@cityofgp.com

•Land for future development backing lake. •Land for development for Residential & Commercial. •2 Industrial buildings with land. •Welding Shop with land, buildings & contracts. •Hotel close to airport & major highway. •Commercial zoned building with extra lot. Call

ZDENKA TURNER TECHNICAL INQUIRIES: Audrey Cerny Legislative Services Manager Phone: 780-538-0338 Fax: 780-539-1056 Email: acerny@cityofgp.com

780-986-4711

Coldwell Banker Haida Realty 5919 - 50th St, Leduc, AB T9E 6S7

Brian Glavin Economic Development Officer Phone: 780-538-0475 Fax: 780-539-1056 Email: bglavin@cityofgp.com

780-986-4711

(Toll Free 1-877-986-4711) 780-986-6662 Fax

www.HaidaRealty.com

B14 Alberta

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

• Commercial & Industrial Development Opportunities • Single Family Homes & New Apartments Required • 35 minutes to Edmonton and 60 Minutes to Red Deer

• Retail & Hotel Development Opportunities • SKYPORT at Wetaskiwin Airport Sites Available • 44,000 loyal shoppers in immediate trading area

City of Wetaskiwin

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

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

www.cwedm.com

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

780-420-1177

investment@cwedm.com

APARTMENT OPPORTUNITIES

INVESTMENT SALES

12 UNITS: All 1 bdms; Oliver area; built in 1958 14 UNITS: Twelve 2-bdms, northeast; new roof and windows

MULTI-FAMILY LAND OPPORTUNITIES • 1.33 acres high density multi-family land in Wetaskiwin; can build a 40 unit building; $435,000 • 1.823 acres high density multi-family land in Wetaskiwin; can build a 90 unit building plus underground parking; $675,000 • 3.83 acres multi-family prime dev. land in Windermere, SW Edmonton Apartment product is in demand! Please call for our opinion of value of your building!

CHRISTOPHER KAMPHIUS or RAPHAEL YAU multifamily@cwedm.com

INDUSTRIAL OPPORTUNITIES •Commercial Condos - 3,000 sq. ft. per unit; up to 9,000 sq. ft. contiguous - Great exposure located at intersection of Fort Road, Wayne Gretzky Dr. & Yellowhead - $130 per square foot CONTACT BURKE SMITH

burke.smith@cwedm.com

DEVELOPMENT OPPORTUNITIES +/- 3.84 ACRES: in SW Edmonton, Zoned IB (Industrial Business) ............................. $3,500,000 +/- 1.85 ACRES: in NE Edmonton on 50th Street ............................................. $2,250,000 +/- 13,068 SQ. FT. high density multi-family site ...................................................................... $850,000 +/- 0.31 ACRES: high visibilty location on 111 Avenue ....................................................... $610,000 CONTACT JEFF MCCAMMON OR DOUG BAUER

SHERWOOD PARK LAND - $26,000,000 • 150 acre site along Broadmoor Blvd. • Area Structure Plan approved for Commercial and Industrial CONTACT IAN NEWMAN OR MIKE PARKER

FORMER WAL-MART - MEDICINE HAT • High profile redevelopment opportunity • 12.95 acres / 100,287 s.f. building • $8,950,000 CONTACT HOWARD McCANN OR MARK McCANN

DUGGAN MALL - CAMROSE

MULHURST BAY CROSSING DEVELOPMENT LAND

• ±65,136 sq. ft. separately titled dept. store anchoring a major enclosed shopping centre; asking $4 Million ($61.40/sq. ft.)

CONTACT JEFF McCAMMON OR DOUG BAUER

SOLD!

KENSINGTON CENTRE • ±88,834 sf well established fully leased centre in the heart of the Kensington neighbourhood anchored by Giant Tiger

• 132.4 acres on Pigeon Lake • Area Structure Plan approved • 207 dwelling units • 200 site R/V seasonal park • 10.28 acres commercial development site

CONTACT JEFF McCAMMON OR DOUG BAUER

14,707 SQ. FT. SHOWCASE WAREHOUSE

CONTACT DOUG FOGG OR DAVID COONEY

DEVELOPMENT LAND RIMBEY, ALBERTA

• Argyll Road / Sherwood Park Freeway • Clear span warehouse; dock & grade loading • $2,950,000 BRING OFFERS!

• 20.64 acres development land • Residential & Highway commercial

CONTACT JEFF McCAMMON OR RAPHAEL YAU

DOWNTOWN EDMONTON DEVELOPMENT LAND • 37,500 square feet • Significant parking and signage income • Zoned HA - Heritage Area

CONTACT JEFF McCAMMON OR DOUG BAUER

DOWNTOWN DEVELOPMENT LAND • +/- 16,166 square feet • Located within The Quarters downtown redevelopment area

CONTACT IAN NEWMAN OR JEFF McCAMMON

WINTERBURN INDUSTRIAL PARK

CONTACT DOUG RAE

SPRUCE GROVE DEVELOPMENT LAND • Adjacent to Superstore and Home Depot • Parcels from 1 - 3.75 acres • Great owner/user land

CONTACT DOUG FOGG OR MARK MCCANN

• 8,000 sq. ft. building on 8.23 acres • New building constructed in 2008 • $336,783/annum net income • $3,950,000

CONTACT CHRIS SIEBEN OR ANDY HORVATH industrial@cwedm.com

FORT MCMURRAY

• Former Fort Theatre • Morrison Centre • 36,400 sq. ft. site which includes a • 52,437 sq. ft. office building & 14,500 sq. ft. building 35,555 sq. ft. development land CONTACT DOUG RAE OR BRETT KILLIPS

B15

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

RECREATION FEATURE Demand reflects switch to affordable options as buyers balk at high resort prices

5JOZ DPUUBHFT QSPWF CJH TFMMFST FRANK O’BRIEN WESTERN INVESTOR hen Three Point Properties began offering small oceanfront cabins for sale at $129,000 at Port Renfrew last May it was surprised at the demand for its Wild West cottages.

“We sold out all 10 of the first cabins almost immediately,” said Becky Julsuth of Three Point, “and people kept asking why they were so cheap.” The reason for the affordability is that the cottages are small and are set on former RV lots. The freehold waterfront site in Port Renfrew was an RV park when Three Point, which didn’t see much future in recreational vehicles, bought it. Instead, it changed the site to a strata parcel and contracted a Victoria contractor to build small cabins that could be easily set up, fully furnished, on small lots. The cabins come as two 200-square-foot pods that are hauled in separately and then connected and finished on site. Some owners separate the two pods with a breezeway, Julsuth said, while others complete them as 400-square-foot cottages. The units come fully furnished with all appliances. Not all the cottages on the heavily treed site have ocean views, she explained, but all are within a three-minute walk to a beach. Three Point has built a series of steps to the beach and is planning to construct a 200-berth marina at a former log-sorting site on the waterfront. Currently, though, the company is expanding the number of cottages for sale. It released a further 20 cottages last fall, of which 10 remain. Prices on these units, which are closer to the beach, range from $144,900 to $175,900, Julsuth said. Prices include HST. Set up as bare

Photos: Wild West Cottages

8

Small 400-square-foot ocean-front cottages have been selling for around $150,000 at the Wild West Cottages development at Port Renfrew, Vancouver Island. The next phase includes ocean-view parcels. All cottages come fully finished and furnished.

land strata, strata fees are $131 month. There is a voluntary rental pool that residents can use, or they can handle their own rentals. Since Port Renfrew is about 45 minutes from Victoria, most of the buyers are from the Capital Region, Julsuth said, seeking “a campsite by the ocean” for weekend retreats. Three Point’s price point is reflective of a B.C. recreation market that is now being defined by affordability rather then exclusive luxury. An example is at Red Mountain Ski Resort, where its latest subdivision is made up of modular cottages rather than luxury condominiums. In fact, The New York Daily News recently credited Red Mountain’s real estate project Elevate with putting an end to the notion that a “ski chalet” has to cost millions of dollars.

The 80-unit Elevate modular homes sell for less than $300,000 for 602 square feet, with 1,094-square-foot, three-bedroom cabins going for $399,000.

-VYVSZ SFTPSUT TVGGFS

The move to more affordable recreational parcels is seen as a buyer pushback against spiralling recreational prices. According to Vancouver real estate consultant Ozzie Jurock, an estimated 40 resort and condo developments across B.C. are “either in or about to go to foreclosure.” Many of the casualties are top-end projects that once offered the most expensive recreational real estate in the province. Here are examples of recently troubled real estate projects, provided by the Jurock

Insider. Bear Mountain Resort near Victoria continues in contention between original developer Les Bjola and HSBC Bank Canada. HSBC has made an application of the resort assets to regain something from the $250 million it is owed by Bear Mountain. Under credit protection since last March, the B.C. Supreme Court and creditors are trying to make a decision on how to sell the assets. Receiver the Bowra Group meanwhile is trying to sell the Essenica Verde condo project at Cook Street Village, Victoria. The threestorey complex is offered at $4.9 million. Bowra Group is also the receiver for a long list of condo projects under the New Future Building Group banner. (Projects include Kutenai Landing in Nelson; Carmel Cove Resorts and Spa in Kamloops; Timber Ridge /Montebello Developments, Big White, Kelowna; and two properties in Squamish.) The companies and projects obtained court protection for creditors in October and the stay was extended to January 31, 2011. Tuscan Villas in Westbank, Kelowna, obtained court protection in November 2010, which was extended to January 31. Copper Sky Developments, Kelowna, went into receivership in October 2010. Copper Sky consists of two completed and two partially completed condo buildings with 192 units and an amenity building. Bowra Group is the receiver for both Tuscan Villas and Copper Sky.◆

"MCFSUB ONE OF MOST PROFITABLE HOTELS FOR SALE It is TIME to buy this profitable hotel!

• Asking Price: $4.9M 62 Rooms with Restaurant/Lounge/9 VLTs • Land size: 2.84 acres

• Revenue/NOI: $2M/$0.59M(2010), $3.2M/$1.64M(2007)

• Very good location - Revenue is going up with new Alberta boom MARTIN PARK T: 778-899-0201 www.MotelHotelSale.com Sutton Group - West Coast Realty

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

1-800-661-6988

INVESTOR READY! Private Investor looking to purchase Light Industrial / Commercial Properties or Buildings with Tenants in place. Will consider any and all conditions.

780.841.1496 or dannyf@live.ca

Medical/Professional Space for Lease

115 Haddow Close NW, Edmonton, AB

Prestigious Riverbend/Terwillger Location! This facility is equipped with all of the features and amenities you need to succeed. Nearby pharmacy, rec centre & major traffic throughways offer great exposure! Great space for Doctor office, Insurance Brokerage, Real Estate Office, Lawyer’s office and or Accountant !!! 1295 sf, 3 - 5 yr lease preferred. $28 per sq. ft. plus $15.50 operating costs utilities & janitorial not included.

Please Call Michele Warwa-Handel

780-464-7700 REALTY EXECUTIVES DEVONSHIRE (THE PARK)

www.realtyforyou.ca

Edmonton & Area - For Sale

• Sherwood Park - 1.33 Acres (C5 Zoning) - $765,000 / acre • Drayton Valley - 52 Room Motel (new 2005) - $3,300,000 • Sherwood Park - 19.57 Acres Zoned C5 - $600,000 / acre • Sherwood Park - 3.9 Acres (adjacent to Ford site) - $637,000 / acre • Mini Storage Investment - Located on 5.89 acres - $425,000 • Edmonton - 1,355 sq. ft. Industrial Condo - $350,000 • Sherwood Park - Lakeland Drive - 2.42 Acres - $715,000 / acre • Developed Industrial Land - West Edmonton - $300,000 / acre • West Edmonton Industrial Warehouse/Office - 14,319 sq. ft. - $1,500,000

www.scrcommercialrealty.com

Office • 780.417.5540 (Sherwood Park)

3

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HOT PROPERTIES

HeZXiVXjaVg DHDNDDH A6@:";GDCI EgdeZgin L^i] 9ZkZadebZci Deedgijc^in Located at the north end of Osoyoos Lake, this magical setting of 3.93 acres, on the lake-head, offers an unobstructed South facing panorama of the Lake and a 360 degree view of the surrounding mountains.

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'!-%%!%%% Introductory pricing now available on lakefront, marina, lake view and pond lots on Last Mountain Lake, SK

With over 390’ of waterfront, the property includes a beautiful 3,691sf rancher plus a 2,400sf garage/workshop. For further information please contact:

Ken Hick

or

Lot prices start at $165,900 for lake front; $135,900 for marina; $69,900 for lake view and $49,900 for waterfront pond lots. All lots have no immediate building commitment. Reserve your lot selection with only 5% down. Home package pricing and SEE US AT: a limited number of marina slips are also available. Saskatoon Home Show

Ken Kiers

1-800-890-9855 or Èä{ xÎ{ Ç Ç{ÊUÊEmail: kiers@naicommercial.ca

Visit www.SunsetAcres.com for details, call 1-800-220-4865 or email info@sunsetacres.com

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Ofxmz!Qsjdfe!$7,900,000 MLS® 9222588

$6,998,000 MLS® 9208675

March 17th - 20th & The Regina Home Show March 24th - 27th

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Uijt!qspqfsuz!!jt!hfuujoh!buufoujpo"!Tfu!bnpohtu!nbuvsf!usfft! pwfsmppljoh!uif!tipsft!pg!Plbobhbo!Mblf!boe!djuz!mjhiut-! uijt!ipnf!tipxdbtft!jnqsfttjwf!bsdijufduvsbm!mjoft!xijmf! nbjoubjojoh!b!xbsn!mjwjoh!tqbdf/!Hbufe!fousz-!5!dbs!hbsbhf! boe!bo!bcvoebodf!pg!à!pps.up.dfjmjoh!xjoepxt!bddfouvbuf!uif! 2/3!bdsf!tfuujoh/!!Uif!pvuepps!dpvsuzbse!boe!mjwjoh!bsfbt!bsf! tfdpoe.up.opof!boe!uif!ujmfe!tbmuxbufs!joß!ojuz! qppm!jt!xpsme.dmbtt/! $5,950,000 MSL®10020681

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1/82!bdsft-!bqqspyjnbuf!97!gu!pg!tipsfmjof!gfbuvsjoh!qbsl.mjlf! nbojdvsfe!hspvoet-!b!cfbvujgvmmz!sfnpefmmfe!ipnf-!hsfbu! foufsubjojoh!bsfbt!uibu!pqfo!up!tqbdjpvt!dpwfsfe0!wbvmufe! efdl!xjui!mblf!wjfx/!Vopctusvdufe!wjfx!up!uif!csjehf!boe! tpvui!up!Qfbdimboe/!!Rvbjou!dbcjo!bu!xbufs(t!fehf!dpnqmfuf! xjui!mjdfotfe!cpbu!epdl!boe!b!mpwfmz!cfbdi!bsfb/ IPU!MBLFTIPSF!CVZ"!!

$5,000,000 MLS®10011427

$4,295,000 MLS®10020714

$2,298,000 MLS®10020914

Pgß!df;!361.971.8611!0!999.646.7:73!!!!!!!!!Fnbjm;!kbofAkbofipggnbo/dpn!!!!!!!!!$25.2581!Ibswfz!Bwf/!Lfmpxob!CD!W2Z:L9 Lfmpxob(t!Sfbm!Ftubuf!Tqfdjbmjtu!tjodf!2:96

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com sss

Recreational Real Estate HOT PROPERTIES B17 s

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

www.landquest.com LandQuest Realty Corp SmithersÊqÊ i ÃÊ Ài LandQuest Realty Corp CourtenayÊqÊ ÕÀÌÊ i Ãi LandQuest Realty Corp NanaimoÊqÊ i> Ê Õ `Þ

LandQuest Realty Corp Cariboo – >ÀÃ Ê ÀÜ>À` LandQuest Realty Corp Williams LakeÊqÊ Ài``ÞÊ >À Ã LandQuest Realty Corp Fraser ValleyÊqÊ Ài``ÞÊ >À Ã

OCEANFRONT MARINA DEV. SITE SIDNEY, BC

PREMIERE CHILCOTIN GUEST RANCH

620 ACRES OF RANCHLAND FORT ST. JOHN

UÊ /À « ÞÊ Vi> vÀ ÌÊ`iÛi « i ÌÊÃ Ìi UÊ - Õ} ÌÊ>vÌiÀÊ V>Ì ÊqÊ- ` iÞ]Ê

UÊ < }Ê> ÜÃÊ}À Õ `Êv ÀÊV iÀV > Ê > `ÊxÊV ` ÃÊÜ Ì Ê£äÊ ÀÊ£ÓÊà «Ê >À > UÊ £ääÊvÌÊ vÊL Ì Ê Vi> Ê> `ÊÃÌÀiiÌÊvÀ Ì>}i UÊ "ÕÌÃÌ> ` }Ê «« ÀÌÕ ÌÞ UÊ $1,800,000 Ê

UÊ }Ê `}iÊEÊ}ÕiÃÌÊV>L ÃÊv ÀÊ{{Ê}ÕiÃÌà UÊ ÈÓäÊ>VÀiÃ]ÊÇÊÌ Ì iÃ]ÊÓx]äääÊ>VÊ}À>â }ÊÀ } Ìà UÊ > ià `iÊ}ÕiÃÌÊÀ> V ÊEÊÜ À }ÊV>ÌÌ iÊ À> V UÊ -«iVÌ>VÕ >ÀÊ Ì ÊÛ iÜÊ Ê«À ÃÌ iÊÃiÌÌ } UÊ {]nää½Ê> ÀÃÌÀ « UÊ / iÊLiÃÌÊ Ê >ÃÊÌ Ê vviÀÊ $2,495,000

UÊ -ÌÕ }ÊÛ>V> ÌÊÀ> V Ê > `Ê UÊ *À «iÀÌÞÊ vviÀÃÊ>ÊL }Ê «i Ê >ÞÊv i ` UÊ ÈÓäÊ>VÀiÃÊÛ>V> ÌÊ > `Ê Ê>ÊL }Ê>Ài> UÊ ½ÌÊÜ> ÌÊÌ ÊLÕÞÊ > `Ê ÊLÕÞÊ > `]Ê> `Ê Ì i ÊÜ> ÌtÊ UÊ 7Ê*, Ê$198,000

2ICH /SBORNE RICH LANDQUEST COM

WAREHOUSE & PROFITABLE BUSINESS- LANGLEY

UÊ ÀÊÌ Ê-Ì ÀÊ L iÊ-i vÊ-Ì À>}iÊEÊ Û } UÊ Ài>ÌÊLÕ ` }Ê Ê«À iÊ V>Ì tÊ UÊ£Ó]x nÊõÊvÌÊ7 ÊEÊ vv ViÊë>ViÊ UÊ/ÕÀ iÞÊÜ Ì ÊvÕ ÊLÕà iÃÃÊiµÕ « i ÌÊ UÊ `Ê>VViÃÃÊÌ Ê > ÀÊÌÀ> ë ÀÌ>Ì Ê À ÕÌiÃÊ UÊ7 ÊEÊ Õà iÃÃÊÌ }iÌ iÀÊ ÀÊÊÃi«>À>Ìi ÞÊ UÊ NEW PRICEÊ$2,395,000

2ICH /SBORNE RICH LANDQUEST COM

,INDA -ARKS

Î ÁÊ iÌÜ À Ê À Õ«

IMMACULATE WATERFRONT PORT BROWNING MARINA RESORT HOME - BEST POINT INDIAN ARM SOUTHERN GULF ISLANDS

UÊ6iÀÞÊ« «Õ >ÀÊ >À >ÊÀià ÀÌÊ UÊ >LÕ ÕÃÊ ÀÌ Ê*i `iÀÊ Ã > `Ê UÊx°ÎÎÊ>VÀiÃÊ ÜÊL> Ê Vi> vÀ ÌÊ UÊ >À >]ÊÃÌ Ài]ÊÀiÃÌ>ÕÀ> ÌÊEÊ«ÕLÊ UÊÎ]äää³ÊvÌÊÜ >Àv]Ê« ]ÊV> «}À Õ `Ê UÊ Óä½Ê Vi> vÀ Ì]Êv Àià ÀiÊ i>ÃiÊ UÊ $4,800,000

UÊ "Vi> vÀ ÌÊ iÊ ÊÓÊL`À ÊÉÊÓÊ UÊ £xÊ ÃÊvÀ Ê ii«Ê ÛiÊ >À >\Ê °6> UÊ 9i>ÀÊÀ Õ `Ê Û }Ê ÀÊ,iVÀi>Ì > ÊÀiÌÀi>Ì UÊ 7i ÊÃiÌÊÕ«\Ê } Êëii`Ê iÌ]Ê« i]Ê Ãi«Ì V]Ê«À «> i]Ê}i iÀ>Ì ÀÊÉÊL>ÌÌiÀÞ UÊ iÌ VÕ Õà ÞÊ > Ì> i`ÉÊ Õ ÞÊvÕÀ à i` UÊ $748,000

Èä{ ÈÈ{ ÇÈÎäÊUÊ£ nÈÈ xxn Ê­xÓÈή QUEEN CHARLOTTE ISLANDS BUSINESSES

HISTORIC RIVERFRONT INN SPENCES BRIDGE, BC

UÊ Ã }Ê >ÀÌiÀÊ Ê,iÃÌ>ÕÀ> ÌÊÉÊ*ÕL UÊ Ê >ÃÃiÌÊÓÊÃÌ ÀiÞÊÀi Û>Ìi`ÊL `}° UÊ ÓÎ½Ê >Þ iÀÊ->À>Ì }>Ê ÊvÕ ÞÊiµÕ ««i` UÊ {ÊiÝÌÀ>Ê ÌÃÊÇÊÕ ÌÊ Ìi Ê« > ÃÊ>Û> >L i°Ê /ÕÀ iÞ UÊ À« ÀÌÊqÊ} v }ÊiÌV°Ê> Ê i>ÀLÞ UÊ $450,000ÊÊ

UÊ ÊÀ> Ü>ÞÊLÕvv½ÃÊ`Ài> ]ÊLiÌÜii Ê ,ÊEÊ

*,Ê > iðÊ/À> ÊÜ>ÌV iÀÃÊV i UÊ £{äÊÞi>ÀÊ `Ê iÀ Ì>}iÊ ]ÊLÕ ÌÊ£nÈÓÊv ÀÊ ÃÌ>}iV >V iðʣ£ÊÀ Ã]ÊÓÊÃÕ Ìià UÊ À ÊÀiÃÌ>ÕÀ> ÌÊÜ>ÌV ÊÀ ÛiÀ]Ê Õ Ì> ÃÊ ÜÉÊL }Ê À Êà ii«°Ê" ÞÊÎÊ ÀÃÊvÀ Ê 6> V ÕÛiÀÊÊ$399,000

"RIAN (ARRIS BRIAN LANDQUEST COM

"RIAN (ARRIS BRIAN LANDQUEST COM

LAKEFRONT PROPERTY CANIM LAKE

CAMEL LAKE ACREAGE

UÊ Ài>ÌÊ ÛiÃÌ i ÌÊ «« ÀÌÕ ÌÞÊ UÊ Àii `ÊÌ Ì i\ÊV> Êv ÀÊLÕÞ ÕÌÊv }ÕÀi UÊ £ÊL`À ÊV>L ÊÜ Ì Ê` V Ê ÊÏÊ>VÀià UÊ 7i ÊÃiÌÊÕ«ÊÜ Ì ÊÃi«Ì V]ÊÌi i« i UÊ , ÊÌ ÊLÕ `Êà «ÉÊiÝ«> ` UÊ 1 Li>Ì>L iÊL >Ì }Ê ÊÎÇÊ Ê }Ê > i UÊ i>ÃiÊÀ } ÌÃÊ$110,000

UÊ *À Û>ÌiÊÇÇÓ°{ÓÊ>VÀià UÊ ÕÌiÃÊvÀ Ê£ääÊ iÊ ÕÃi UÊ i>ÕÌ vÕ ÊÛ iÜÃÊ> `Ê > ÞÊLÕ ` }Êà Ìià UÊ Õvv> Ê Àii ÊÀÕ ÃÊÌ À Õ} Ê«À «iÀÌÞ UÊ 7>ÌiÀÊ Vi Ãi°Ê*>Ûi`Ê, >` UÊ ÀÀ> ÃÊ> `Ê >Þv i ` UÊ REDUCED: $656,557 ÊÊÊÊ #ARSON $ORWARD

$AVE #OCHLAN DAVE LANDQUEST COM

$AVE #OCHLAN DAVE LANDQUEST COM

-ATT #AMERON MATT LANDQUEST COM

-ATT #AMERON MATT LANDQUEST COM

TROPHY LAKEFRONT ESTATE SHERIDAN LAKE, BC

24.5 ACRES NELSON, BC

SERENITY PLACE NEAR CRAWFORD BAY, BC

LARGE NICOLA LAKE DEV. ACREAGE - MERRITT, BC

THE POINT DENMAN ISLAND

UÊ 1-/Ê, 1 Ê"6 ,Ê£Ê " Êfff UÊ ÌÌi Ì Ê iÛi «iÀÃÉÊ ÛiÃÌ ÀÃtttÊÊ Ó {Ê>VÀiðÊÓ°xÊ ÕÀÃÊvÀ Ê6> °Ê UÊ i à ÌÞÊ vÊÈÓÊÌ ÀiiÊLi`À ÊiµÕ Û> i Ìà UÊ L iÊÜÉÊÀi > }ÊV iÀV > Ê Ü>ÌiÀvÀ ÌÊ ÌÃÊEÊ VÀi>ÃiÊÌ Ê£än UÊ *À Ûi ÊLÕÞiÀÊ`i > `°ÊÊÊ$2,995,000

UÊ ià } iÀÊÛ iÞ>À`ÉÊÜ iÀÞÊ>VÀi>}iÊ­£{ÎÊ>V®Ê UÊ xÊ ÊÜ>ÌiÀvÀ ÌÊ>VÀi>}iÃÊ­xÊÌ Ê£xÊ>V®Ê UÊ 6iÀÞÊ«À Û>Ìi°Ê Vi ÞÊ/Àii`Ê UÊ -Õ Þ]ÊÜ>À Ê V>Ì Ê UÊ 1 `iÀ}À Õ `Ê« ÜiÀÊ UÊ -ÌÕ }ÊÛ iÜÃÊ UÊ À Ê$375,000 ÊÊ

3AM (ODSON SAM LANDQUEST COM

+URT .IELSEN KURT LANDQUEST COM

SQUIRREL COVE TRADING CO. FLY-IN TROUT FISHING LODGE CORTES ISLE - DESOLATION SOUND CRAZY BEAR LAKE, CHILCOTIN, BC

SKEENA RIVER FISHING LODGE TERRACE, BC

ADORABLE - AFFORDABLE SUSTAINABLE - GRAND FORKS

UÊ ÓÓ°ÎÊ>VÀiÃÊ i>ÀÊ` Ü Ì Ü Ê­Ã iÊÛ iÜ®Ê UÊ -« ÌÊâ }Ê Ê i` Õ ÊÌ Ê } Ê`i à ÌÞÊ UÊ Õ `Ài`ÃÊ vÊÕ ÌÃÊ« Ãà L iÊ UÊ-iÀÛ ViÃÊÌ Ê«À «iÀÌÞ°Ê6iÀÞÊ ÌÌ iÊ«Ài«°ÊÜ À Ê UÊ "ÛiÀÊf{]äääÊ«iÀÉÊ Ì Ê V iÊ UÊ vÊV ÕÀÃiÊ>VÀ ÃÃÊÌ iÊÃÌÀiiÌÊ UÊ $1.975Ê

UÊ -µÕ ÀÀi Ê ÛiÊ i iÀ> Ê-Ì ÀiÊEÊÊ / iÊ ÛiÊ,iÃÌ>ÕÀ> Ì UÊ Ó°xÊ>VÀiÊV iÀV > ÞÊâ i`Ê Vi> vÀ ÌÊ UÊ V Õ`iÃÊ}À ViÀ iÃÊEÊ >À`Ü>Ài]Ê µÕ ÀÊ Ã> iÃ]Ê« ÃÌÊ vv Vi]ÊvÕi ÊÃ> iÃ]Ê ÊL`À Ê >VV `>Ì ]Êv Àià ÀiÊ Vi ÃiÊEÊ ÕV Ê Ài°ÊÊÊ$1,350,000

UÊ À Ü Ê i>ÃiÊ>««À Ý°Ê{° ³ÊÀi ÌiÊ>VÀiÃÊ ­iÝ«°ÊÓäÎ ®Ê*À ÃÌ iÊÜ `iÀ iÃÃÊ UÊ /ÕÀ iÞÊÃi>à > Ê «iÀ>Ì Êà ViÊ£ n£Ê UÊ > Ê vÊÈÊ > iÃÊ Ê Ài>ÌÊÜ `ÊÀ> L ÜÊ ÌÀ ÕÌÊv à } UÊ }ÊLÕ ` }ÃÊ V°Ê` }Ê `}i]Ê Ü iÀ½ÃÊEÊ V ½ÃÊV>L ÃÊEÊ{Ê}ÕiÃÌÊV ÌÌ>}iÃÊÊ$450,000

UÊ /ÕÀ iÞÊv à }Ê `}i UÊ °nnÊ>VÀiÃÊ vÊÀ ÛiÀvÀ ÌÊ«À «iÀÌÞ UÊ > Ê `}iÊÜÉÊ}ÕiÃÌÊÀ Ã]Ê Vi Ãi`Ê ` }ÊÀ ÊEÊL>À]Ê£{ÊV>L Ã]Ê Ü iÀÊÀið UÊ iÀV > ÞÊ Vi Ãi`Êà i ÕÃi]Ê ÕÌLÕ ` }Ã]ÊL >ÌÊ >Õ V ÊEÊiµÕ «° UÊ >Ãà v i`ÊÀ `Ê`>ÞÃÊ Ê- ii >ÊÓÊÊ$1,300,000

UÊ *À Û>ÌiÊ, ÛiÀvÀ ÌÊ LLÞÊ >À UÊ xÊ>VÀiÃÊ vÊÀ V Êv>À > ` UÊ {ää½Ê vÊ«À iÊÀ ÛiÀÊvÀ Ì>}i UÊ * i ÌÞÊ vÊÃÕ ]Êà ÊEÊÜ>ÌiÀ UÊ ii`ÊÞ ÕÀÊv> ÞÊEÊÌ iÊ i } L À ` UÊ ,i ½`Ê iÊÜ Ì Êà «ÊEÊL>À UÊ $389,000Ê Ê -/ÊÊ

+URT .IELSEN KURT LANDQUEST COM

*AMIE :ROBACK JAMIE LANDQUEST COM

$ENIS $ORE DENIS LANDQUEST COM

$ENIS $ORE DENIS LANDQUEST COM

OCEANFRONT GETAWAY INDIAN ARM - N. VAN, BC

OCEANFRONT LIVING INDIAN ARM - N. VAN, BC

UÊ "ÛiÀÊnää½Ê vÊ«À iÊ- ÕÌ Êv>V }]Ê ÜÊÊ L> ÊÜ>ÌiÀvÀ Ì UÊ ÓÊÞi>ÀÊ `ÊVi`>ÀÊ }Ê i UÊ ÌÊÌÕLÊ> `ÊÃ>Õ > UÊ ÕiÃÌÊ ÕÃiÊ> `Ê Õ}iÊ}>À>}iÉÊà « UÊ ÈÊÕÃ>L iÊ>VÀiÃÊÜ Ì ÊL >ÌÊ >Õ V ÊEÊ` V U 1,695,000

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DEVELOPMENT ACREAGE CAMPBELL RIVER

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4.9 ACRE OCEANFRONT ESTATE EMERALD ON THE GREEN LAKE IN THE CARIBOO INDIAN ARM - N. VAN, BC

UÊ "vviÀi`Êv ÀÊÃ> iÊv ÀÊÌ iÊv ÀÃÌÊÌ i UÊ >À}iÊ iÊÜÉÊÃi«>À>ÌiÊÃÕ Ìi UÊ VÀ Ê Þ`À ]ÊÃ >ÀÊEÊÜ `Ê« ÜiÀ UÊ i>ÕÌ vÕ ÞÊ > `ÃV>«i`ÊÊ UÊ >À}iÊÜ À Ã « UÊ >À}iÊ` V ÉÊÜ>ÌiÀÊ>VViÃÃÊ Þ UÊ 6iÀÞÊ«À Û>ÌiÊÊÊ$2,285,000 #LIFFORD 3TONE CLIFFORD LANDQUEST COM

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CARSON LANDQUEST COM

*ASON #OLEMAN JCOLEMAN LANDQUEST COM

BEAUTIFUL HOME ON THE THOMPSON RIVER

UÊ ÃiÊÌ Ê i>ÀÜ>ÌiÀÊ> `Ê > «Ã UÊ i>ÕÌ vÕ ÊÀ ÛiÀvÀ ÌÊ«À «iÀÌÞÊ> `ÊÛ iÜ UÊ >À}iÊ`iV ÊÌ Êi ÞÊÌ iÊ +½Ã UÊ £°Î£Ê>VÊEÊ>VViÃÃÊÌ Ê`À ÛiÊ` Ü ÊÌ ÊÀ ÛiÀ UÊ ÌÌ Ü `ÃÊEÊiÛiÀ}Àii ÊÌÀiià UÊ > Ê ÀÊi > Êv ÀÊvÕÀÌ iÀÊ`iÌ> à UÊ $389,000Ê (EATHER AND -IKE $ILLON HEATHERANDMIKE LANDQUEST COM

B18 Recreational Real Estate HOT PROPERTIES

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

N

CAMPBELL RIVER (15 MIN.)

Elkhorn is located 15 minutes south of Campbell River in the York Road area. These open area acreages, many with views and water features, have easy access to the Inland Island Highway. Nearby amenities include Storey Creek Golf Course, waterfront on Oyster Bay and Mount Washington.

ACREAGE LOTS STARTING AT $3600 PER ACRE Acreage lots also available at Headquarters, please enquire.

COURTENAY (35 MIN.) NANAIMO (90 MIN.) VICTORIA (180 MIN.)

TOLL FREE 1.877.239.4811

Realty Ltd.

COUVERDON.COM

*Lot boundaries are approximate only. The Developer reserves the right to withdraw offer at any time. E.&O.E.

ONLY 4 LOTS LEFT!

N

Located in the heart of Comox Valley, minutes from the Inland Island Highway (Dove Creek exit), Headquarters is situated at the base of Mount Washington and is 20 minutes from the Courtenay/ Comox International Airport. Features include expansive mountain peak views, rolling hills and the Tsolum River, which meanders through the property.

2 2 TO 7 0 AC R E LOT S FROM $249,900 AND UP

CAMPBELL RIVER (25 MIN.)

Acreage lots also available at Elkhorn, please enquire.

COURTENAY (10 MIN.) NANAIMO (60 MIN.) VICTORIA (165 MIN.)

Realty Ltd.

TOLL FREE 1.877.239.4811

*Lot boundaries are approximate only. The Developer reserves the right to withdraw offer at any time. E.&O.E.

COUVERDON.COM

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

Recreational Real Estate HOT PROPERTIES B19

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Contact us to start your portfolio today. Here are twelve of the homes we’ve sold over the past few months which are all within a 30 minute drive from downtown Phoenix. We even offer property management for our clients.

INFO !CQUIRE!: COM s 7 %ARLL $R !VONDALE !: Acquire Realty is family owned and operated with over 30 years of Real Estate experience. Contact us for Foreclosure or Short Sale Listings in Phoenix, Scottsdale, Fountain Hills, Surprise, Goodyear and Surrounding Areas. We would love to help you ďŹ nd your vacation home or investment property.

Phoenix Area

Sold Price: $46,500 Currently Rented: $775 City: El Mirage Square Feet: 1,145 Year Built: 2001

3OLD 0RICE #URRENTLY 2ENTED City: El Mirage Square Feet: 1,518 Year Built: 2002

3OLD 0RICE -ARKET 2ENT City: Buckeye 3QUARE &EET Year Built: 2005

Sold Price: $54,000 -ARKET 2ENT City: El Mirage 3QUARE &EET Year Built: 2000

Sold Price: $62,500 Market Rent: $825 City: Buckeye Square Feet: 1,372 Year Built: 2006

Sold Price: $67,000 -ARKET 2ENT City: Buckeye Square Feet: 1,781 Year Built: 2005

Sold Price: $82,000 -ARKET 2ENT City: Goodyear Square Feet: 1,612 Year Built: 2004

Sold Price: $84,000 -ARKET 2ENT City: Waddell 3QUARE &EET Year Built: 2007

3OLD 0RICE #URRENTLY 2ENTED City: Surprise Square Feet: 1,671 Year Built: 2004

3OLD 0RICE -ARKET 2ENT City: Avondale 3QUARE &EET Year Built: 2002

Sold Price: $177,500 -ARKET 2ENT City: Surprise 3QUARE &EET Year Built: 2006

Sold Price: $181,500 #URRENTLY 2ENTED City: Goodyear Square Feet: 3,038 Year Built: 2005

Average Sales Price per Square Foot ARMLS Residential All Areas and Types

Investment Opportunity Tenant in Place at $700 11786 W Aster Dr, El Mirage Just updated with new tile oors, fresh neutral paint, updated appliances, new landscaping, new fans and ďŹ xtures, longer term tenant, management in place, 12.3% CAP Rate.

For Sale: $55,000

B20

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

COVER Edmonton uses a carrot, Calgary eyes a stick to convince home builders to move out of suburbs

FRANK O’BRIEN WESTERN INVESTOR algary’s new mayor, who hammered an anti-urban sprawl plank into his election campaign, is said to be considering a punitive tax to change how consumers buy homes in Alberta’s largest city.

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In Edmonton, which is committed to a green planning concept, the city is using cash incentives to move builders and residents from the suburbs back to the inner city. Whether the carrot or the stick proves the most successful is not the question, however. The question is whether either strategy can convince home buyers to change their housing preference, which leans heavily towards a detached house in the suburbs. Under a new municipal plan, Edmonton has set a goal of having a minimum of 25 per cent of city-wide housing units located in downtown and mature neighbourhoods and around transit centres. Based on current building activity, this would mean about 2,250 highdensity homes a year built close to the core. But, despite a generous housing incentive, less than 40 units have been attracted to the targeted areas in the past eight months. (Editor’s note: At our press time, Edmonton announced long-range plans to transform its 530-acre former city airport land into mixeduse urban projects on a grand scale. See www. westerninvestor.com for an update.) Last June the city began offering grants under a $2 million program that gives up to $12,000 per housing unit to developers who build infill market housing. The program is aimed at long-established city neighbourhoods such as Alberta Avenue, Chinatown, Little Italy and Stony Plain and requires that the projects

include a mix of retail and residential. Builders can also build stand-alone multi-family units in the neighbourhoods and receive up to $7,000 per suite created. How it works is that the approved developer has one year to present expenses to the city, which then issues a cheque to cover the incentive. For a 36-unit mixed-use project, the maximum allowed, a developer could pocket $432,000. Yet take up has been slow. “We have had three applications,” said Iris Li, manager of Edmonton’s Development Incentive Program. One is for two units and two for 18 units each. None of the projects have been approved as of yet. Li said the low number of applications is likely because it is a new program that is not yet well known. That may be an understatement. TwoCity of Edmonton communication officers expressed ignorance about it, as did many real estate professionals contacted for this article. However, senior city planner Ken Zahara is convinced that the program, which also offers smaller cash incentives to retail developers, will be fully subscribed by the end of this year. Still, even if the incentives are fully taken up it would create no more than 200 homes in the core. For some critics of urban sprawl it is not enough. At a recent public meeting on Edmonton’s “Way We Green” urban plan, some speakers called for nailing taxes onto suburban houses to convince people to move back to the core. “We can’t be paralyzed by waiting for the perfect political environment to show up,” said Pong Leung, principal adviser to Natural Step Canada – a sustainability framework for communities. Leung advocated “taxation shifting” or increasing taxes for families who buy larger homes while rewarding sustainable “right-sizing” behaviour with lower taxes.

“I can’t think of any reason why we would move downtown”

-BOE QSJDFT

Photo; John Ulan/Epic Photography

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“The status quo is not working,” he said. Real estate industry officials, however, say there is a good reason for the slow response to the city incentives, and higher-density housing in general. “People simply want to buy a detached house in the suburbs,” said Paul Chaput of Avison Young. Two suburban houses are built in Edmonton for every condo or rental apartment, other realtors note, arguing the trend will not likely be changed through social engineering. The demand is also seen directly in the market. After the 2009 downturn, it was single-family subdivisions that came back quicker and stronger, representing the bulk of the 34 per cent increase in residential construction permits last year. Ayaz Bhanji, principal of Re/Max Commercial Edmonton: mixed-use developers who get ahead of the downtown vision could see healthy returns on investment.

Residential land zoned for detached housing sells for from $850,000 to $1 million per acre, showing no slump from two years ago, despite a large inventory of such land, Chaput noted. On the other hand, there is a glut of condominium apartments in Edmonton and some developers have slashed prices on wood-frame multi-family projects. According to Canada Mortgage and Housing Corp. there are about 5,900 new multi-family units either built and unsold or under construction in the city, most of them condo apartments. But the desire for a suburban house continues. As 2010 ended, the average price of a condo had fallen 7.2 per cent, while prices of singledetached houses were down just 2.5 per cent from a year earlier.

Ay a z Bha nj i, p r in cip al o f Re/Ma x Commercial Edmonton, said the city’s incentives have not increased prices for land in the inner city – where land values are around $85 per square foot, down from $110 per square foot two years ago. He added, though, that the city has a vision for the downtown that includes a new NHL hockey arena and other large public projects that could make the core more attractive to investors. Bhanji pointed to the government-funded $42 million three-phase YMCA complex, which includes 150 social housing units, a community centre and other facilities in the Quarters neighbourhood as a potential sparkplug.

"MCFSUB

Val Toffoli

Selling Edmonton since 1987

Phone: 780-707-9395

REALTY EXECUTIVES POLARIS 4107 - 99th Street, Edm, AB T6E 3N4 Email: vtoffoli@shaw.ca • www.valtoffoli.com MULTI-FAMILY APARTMENT BUILDINGS:

minutes north or red deer, ab

• 7 Stes in West Central; 6% Cap Rate. Very Clean & Well Maintained with Great tenant Profile. • 12 ste with 80% financing available! Ctl – Near downtown, College, Hospital, new proposed Stadium & LRT – Good size stes. Great Curb Appeal • 15 Condo Units – 13-1bdrm & 12-2 bdrm units. Ctl near downtown & college. REDUCED & open to reasonable offers. • 18 Stes (12-2 Bdrm, 5-1 Bdrm, 1 Bach) Extensive upgrading in & out (roof/windows/landscaping/ fencing). Hi Ratio financing available. East Ctl

THE CITY

OF

CAMROSE

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

DENNIS TWOMEY Economic Development Coordinator

Write: 5204 – 50 Ave., Camrose, AB, T4V 0S8 Toll Free: 1-888-672-4426 Ph. (780)678-3025 Fax: (780)672-2469 Email: dtwomey@camrose.ca www.camrose.ca

industrial lots for sale or lease

•HEAVY INDUSTRIAL ZONING, FULLY SERVICED $220k - $250k allowing for a wide range of uses per acre •Moments north of the city of Red Deer •Situated on the east side of Highway 2A north of Secondary Highway 597, - the main route to Joffre •Easy access via Highway 2, Highway 2A or Highway 597 •Turn key design build or build-to-suit packages available •Rare opportunity to own stripped and graded lots from 2.20 acres to 40 ac.

PLEASE CONTACT: BLACKFALDS INDUSTRIAL PARK INC. FOR FURTHER DETAILS

403-701-4273

B21

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

Photo: Geo Energy

Photo: Geo Energy

In the Quarters, the city has waived parking requirements, reduced development cost charges and provided bonuses such as zerolot lines for retail and residential developers who build “architecturally attractive, LEEDstandard” buildings, according to MaryAnne Debrinski, who is heading the Quarters project for the city’s planning department. So far, the incentives have attracted a new $40 million Hilton Hotel, by BCM Developments, which starts this year; and a proposal for a twin 30-storey tower/200-unit condo complex where one-third of the units will be non-market housing. A Calgary developer is also looking at refurbishing the old York Hotel into market housing, according to senior city planner Walter Trocenko. So far, Edmonton believes in the carrot, not the stick. Raising levies on suburban housing is not being considered, Trocenko said. But the biggest challenge to attracting Edmontonians from the suburbs to the city is perhaps best summed up by Debrinski, who admits she lives with her young family in a detached house in the suburbs. “I can’t think of any reason why we would move downtown,” she said.

$BMHBSZ

Calgary is known for its urban sprawl, perhaps the most pronounced in Canada. Under its new Plan It document, the city is looking at how to control growth in a city where the population is forecast to double over the next 50 years. For city planners, the answer is higher density. Last year nearly 6,000 single-family detached houses were built in the region, most in the suburbs that now radiate in all directions, while only 3,000 multiple-family units broke ground. During the boom times in 2008, a 102 detached houses were being started every day in suburban Calgary. Now Calgary’s new mayor Naheed Nanshi is looking at higher property levies in the suburbs, some say as high as $10,000 per detached house, to cover costs for new water and sewer lines. The mayor apparently believes the levies could encourage home builders and buyers to

move into higher-density city homes. According to anti-sprawl advocates, Calgary should be encouraging green, compact housing options that rely less on automotive transit. And, according to a survey by theCalgary Real Estate Board, that is exactly what consumers want. “Green homes” in “walkable, mixed-use, sustainable communities” will be the hot commodities this year, the board forecasts, “as there is a vast shortage of product in these areas, and sellers who own homes in this category can expect top dollar.” The price of residential land in suburban Calgary rose just 1.6 per cent this year, as compared with 2010, according to Canada Mortgage and Housing Corp., so building sustainable communities could help developers increase profits, the board study suggests.

(TOP) Calgary’s Shawnee Park will use the landscaping of an old golf course for an environmentally aware, pedestrian-friendly community for high-scale suburban housing. (LEFT) Les Humphries, chief planner for Shawnee Park: not the traditional “bulldoze and build” subdivision.

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One Calgary developer says its plans for a 300acre “green” subdivision in the city’s southwest could be just what the mayor and consumers are looking for. What the developer fears is that, like Canada Land’s Garrison Green pedestrian-friendly subdivision, it could take a long time to achieve city approval. Canada Lands spent seven years in public hearings and Calgary’s bureaucratic maze before the firstphase of the successful Garrison project broke ground. “We are now in the rezoning process,” said Les Humphries, senior planner for the Shawnee Park development by Geo Energy. Humphries said the concept plan is distinct from the “bulldoze and build” mentality that characterizes much of Calgary’s suburbs. Yet the project has already run into resistance

from local residents, because the development will replace the existing Shawnee golf club and increase local densities. Humphries is not surprised that Shawnee Park is controversial. “Nothing like it has ever been seen in Calgary,” he said. Working with architectural firm Aecom, Geo’s plan is to create a self-sustaining community that integrates clusters of housing into the existing landscape, rather than changing the landscape to fit the housing, Humphries explained. The plan costs more than conventional subdivisions, but Geo believes the green space, links to an existing transit station and a villagetype retail centre that will be included, will result in higher house prices. “This will be a premier community of very high standards,” Humphries said. The fact that Shawnee Park fits within the city’s Plan It policies reflects the fact that city planners and progressive developers are now on the same page, he added. The 302-acre master-planned development uses the landscaping of the old golf course to provide parkland, a pond, trees – 2,200 mature trees will be saved – and public pathways. Altogether about 25 per cent of the development will be set aside for green space, compared with less than 10 per cent for conventional suburbs in the Calgary region. The development’s 50,000-square-foot retail centre – think Starbucks and chic storefronts – and the first phase of 1,400 homes will be linked to the Fish Creek LRT station which is about 20 minutes from downtown Calgary. The vision is for a mix of homes, all set in distinct, walkable neighbourhoods, Humphries said, and framed by acres of trees and green. Now that hard part starts, however. The rezoning application for Shawnee Park is in front of city council and it will then work through technical reviews and ultimately public hearings before a decision is made. Geo is hoping for a resolution in about a year. Shawnee Park may show whether the City of Calgary, and home buyers, will support an alternative to urban sprawl.◆

"MCFSUB

OPPORTUNITY IS KNOCKING IN RED DEER! 3

• Great Location • High Visibility • Long Term Government and National tenants • 2 Parking Lots INCLUDED for Future Development

$7.5 Million

• 21 Suite Apartment Building • Centrally located • Well maintained • Great parking • Adults only. 2-3 bdrm, 12-2 bdrm, 7-1 bdrm • Low rents, low vacancy

$1.95 Million

Glenn Moore

, Associate C21 Advantage Commercial

Phone: 403-318-8085 Email: glenn@advantagecommercial.ca www.reddeercommercial.com

2

1

B22 Alberta

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

CAPITALIZE

ON EXPERIENCE BARCLAY STREET REAL ESTATE

FOR SALE

INVESTMENT OPPORTUNITIESFROM

FOR SALE

INDUSTRIAL/FOOD PROCESSINGFACILITY

INDUSTRIAL/FOOD PROCESSINGFACILITY

53,233 SQ. FT.

35,381 SQ. FT.

4211 13A Street SE, Calgary, Alberta

4043 Brandon Street SE, Calgary, Alberta

• CFIA registered • 3 blast freezers, extensive cooling storage, refrigerated processing area (64 ton) • Waste water treatment on-site • Fenced yard and parking

• CFIA registered • Cooling storage, refrigerated processing area (140 ton) • Waste water treatment on-site • Direct interior connection to VersaCold storage facility • Fenced parking

For more information or to view, please contact: GREG ALBRIGHT RYAN SWELIN

FOR SALE

galbright@barclaystreet.com rswelin@barclaystreet.com

For more information or to view, please contact:

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

GREG ALBRIGHT RYAN SWELIN

FOR SALE

DEVELOPMENTSITEINMISSION, CALGARY

galbright@barclaystreet.com rswelin@barclaystreet.com

3 STOREY APARTMENT BUILDING

SITE: ±16,480 SQ. FT.

SITE: ±5,798 SQ. FT.

527, 529, 531 and 533 23 Ave SW, Calgary, Alberta

1734 10th Street SW, Calgary, Alberta

• Opportunity for multiresidential development

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

• Fully leased and tenanted 23 Avenue SW

5 Street SW

4 Street SW

• Located in the heart of 4th Street SW shopping and entertainment area

• only half-block from vibrant 17th Avenue SW

• There are four incomegenerating houses on site

24 Avenue SW

• 14 one-bedroom suites, 1 two-bedroom suite, • Close to transit, grocery, restaurants

For more information or to view, please contact: EARL ADELMAN eadelman@barclaystreet.com

COMMERCIAL REAL ESTATE

SOLUTIONS

For more information or to view, please contact: EARL ADELMAN

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

eadelman@barclaystreet.com

Office, Retail, Industrial

Land, Investment

SALES AND LEASING

SALES

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

Property Management

CALGARY OFFICE Suite 200, 407 – 8th Avenue SW Calgary, AB T2P 1E5 p: 403 290 0178 f: 403 262 1314 EDMONTON OFFICE 202, 2520 Ellwood Drive Edmonton, AB T6X 0A9 p: 780 463 3332

WWW.BARCLAYSTREET.COM

Alberta B23

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

Avison Young Real Estate Alberta Inc.

The Avison Young Edmonton Investment Team is proud to present our new website:

www.ayeinvest.com Visit us for sale listings, market information and the latest commercial real estate news MULTI-FAMILY, RETAIL, OFFICE AND INDUSTRIAL INVESTMENT OPPORTUNITIES

Pam Gill

partnership. performance.

780.428.7850

(780) 455-4088

www.apartmentsinedmonton.com

EDMONTON

APARTMENT PROPERTIES 6 SUITES, Cromdale ..................................................$575,000 8 SUITES, Downtown ................................................$584,000 9 SUITES, Inglewood .................................................$850,000 11 SUITES, NAIT .....................................................$1,067,000 12 SUITES, Downtown ..............................................$876,000 15 SUITES, NAIT .....................................................$1,575,000 15 SUITES, Downtown ...........................................$1,425,000 20 SUITES Cromdale..............................................$1,960,000 22 SUITES, Downtown ...........................................$2,420,000 30 SUITES, Westend ..............................................$2,900,000 NEWER WAREHOUSE, 1455 sq. ft. ............................$369,000

For full Proformas, Call or Email gillp@sutton.com PH: (780) 455-4088 Fax: (780) 455-4048 www.apartmentsinedmonton.com Sutton Central Commercial sutton central commercial real estate AN INDEPENDENT MEMBER BROKER

Each office is independently owned and operated.

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

INVESTMENTS CALGARY AREA UÊTrailer ParkÊ£ÓÊÕ Ì]Ê« ÕÃÊÇÊÀià `i Ì > Ê ÌÃÊqÊiÝVi i ÌÊV>à Êv Ü UÊ AIRDRIE qÊxäääÊõ°vÌ°Ê `ÕÃÌÀ > ÊL>ÞÊ v ÀÊÃ> iÊÜ Ì Ê > iÕ«Ê> ÀÊÕ ÌÊEÊ viÀÀi`Ê i>ÌiÀà UÊ 2500 sq. ft.Ê `ÕÃÌÀ > ÊL>ÞÊv ÀÊ i>Ãi UÊ 137 acres Ê `ÕÃÌÀ > Ê > `Ê> iÝi`Ê Ì Ê

À ÃÃv i `]ÊÃiÀÛ ViÃÊV ÃiÊLÞ]ÊÀi>`ÞÊÌ Ê LiÊ`iÛi «i`ÊqÊiÝVi i ÌÊ« Ìi Ì >

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

LAND & BUILDING ONLY

$1,175,000

4-PLEX FULLY OCCUPIED PRICE $519,000

RED DEER AB $2500 per month – 1440 sq ft office... leaseholds in place…well located in Downtown $4600 per month – 2800 sq ft newly renovated space in Downtown... ready for leaseholds $2m – 1.15 acres in new Riverlands area of Downtown ready for development. Environmental is complete $249,000 per acre – 8.25 acres in Gasoline Alley with QE II exposure and access $849,000 Lakeshore Drive in Sylvan Lake... approved site for a 15 suite condominium 2 – quarters close to Springbrook and the Red Deer Airport future development land with some revenue now.

DALE TRUMEN 403-343-3020 OR 403-391-9388

UÊ 141 acres Ê> iÝi`Ê Ì Ê À ÃÃv i `]Ê iÝVi i ÌÊ« Ìi Ì >

RE/MAX REAL ESTATE CENTRAL AMERICA

WHITECOURT DEVELOPERS

UÊ 132 acres Ê } Ü>ÞÊ ÓÊvÀ Ì>}i]ÊÓäÊ ÕÌiÃÊ ÀÌ Ê vÊ > }>ÀÞÊqÊV> ÊÌ `>Þ UÊ 279 acres Ê V>Ìi`Ê iÝÌÊÌ Ê À ÃÃv i `ÊqÊ « Ãà L iÊ`iÛi « i ÌÊ« Ãà L Ì iÃÊ É-

UÊDowntown 4.14 to 36 acres, serviced land for strip mall. Commercial and R-4. Appraised $11,800,000 will Discount to UÊ ¾ acreÊ `ÕÃÌÀ > Ê > `Êv ÀÊ i>Ãi $7.7 Million UÊ 137 acres ÊÜ Ì Ê ÓÊ } Ü>ÞÊvÀ Ì>}iÊqÊ UÊResidential zoned R-1 and R-4 at various iÝVi i ÌÊ>VViÃà stages of development $325,000 to $1.2 UÊ East Balzac Ê q Ê Ê v Ê > } > À Þ Ê q Ê £ x £ Ê Million >VÀiÃ]Ê£ÓxäÊõ°vÌ°ÊLÕ }> Ü]Ê{ä½ÊÝÊnä½Ê UÊFull Service Motel. Comes with restaurant +Õ ÃiÌ & lounge. $4.7 Million UÊ BEISEKERÊqÊÓ°ÇÎÊ>VÀiÃÊ `ÕÃÌÀ > Ê > `]Ê Call Leo Zelinski at 780-778-1207 vi Vi`ÊEÊ}À>Ûi i`]Ê«ÀiÃi Ì ÞÊÕÃi`Êv ÀÊ 1-800-248-4843 ÃÌ À>}i leozelinski@remax.net UÊ 320 acresÊ i Ý V i i Ì Ê v > À > ` Ê q Ê Ó ä Ê ÃÊ Ê vÊ > }>ÀÞ

RE/MAX Advantage WCT www.whitecourtrealestate.com

UÊ 151 acres Ê i > Ã Ì Ê v Ê À ` À i Ê q Ê Ê PRICED TO SELL

Attention

UÊ Goalie Equipment & Development ÕÃ iÃÃÊ ÀÊ-> i

DEVELOPMENT OPPORTUNITIES MULTI FAMILY DEVELOPMENT PROPERTY ΰxÊ , -ÊUÊ<" Ê, ÎÊÉÊ, {ÊUÊ, {Ê- / Ê

" " / -Ê£ÈÊ/"ÊÓ{Ê1 /$299,000 $695,000

RE/MAX Cold Lake 2000

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

UÊ SOLDÊ809 sq. ft. "vv ViÊÉÊ,iÌ> Êë>ViÊ v ÀÊÃ> i]Ê >À}iÊ Ì UÊ SOLDÊCROSSFIELD qÊÓÓÊÀ Ê Ìi ]Ê }Ài>ÌÊ V>Ì ]ÊiÝVi i ÌÊV ` Ì Ê ÉFor more information on these and other properties

call

DON SACKETT RE/MAX ACA REALTY

(403) 946-5657 ACA Realty

www.donsackett.com remaxaca@telus.net www.acarealty.com

Agents: REACH QUALIFIED BUYERS FOR YOUR LISTINGS

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

Each office is independently owned and operated.

B24 Alberta

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

100+ Site • 8800 sqft Sublease office - Highfield - Calgary • Alberta Multi-family buildings - 6 to 1500+ units • Restaurant & Bar - High RIver Alberta - $2.7M • Former School for lease 27,000 sqft S.E. Calgary • Live/Work in Inglewood - Newer Condo $394,000 • 33 Unit apartment building condo title - $3,465,000 • Beltline character office & retail space Calgary • Profitable European Deli & Bakery - Calgary - $198,000 • 5625 sqft Industrial Building on 4 Acres - Langdon $1,500,000 • 2 storey commercial building, 16th Avenue North Calgary $995,000 • Prime Beltline Development Site Construction Underway $7,775,000 • Price reduced 300 Acres just NE of Calgary was $14,500,000 Now $7,500,000 Trades considered • Franchise Restaurants - Chicago Deep Dish Pizza - WOK BOX $209,000 - $209,000

Highway frontage of approximately 850 lineal ft. to Trans Canada Highway and directly across from new mall & casino. Bus: (403) 240-4000 www.toolepeet.com

Edmonton

Athabasca

Well maintained 23 unit apartment near river and down town in the vibrant and growing community of Athabasca. Many upgrades, excellent on-site manager with below 1% vacancy for the last 4 years. Large suites, great mix. Strong cash flows – cash on cash return of 16.7% with existing CMHC financing. Asking Price $1.75 million at 9.0% CAP Rate.

Please call 1-780-913-0563

(RE/MAX Excellence)

(Collapsed Sale – Back on Market)

In booming community of Swift Current, showing a net return in excess of 10%+. Appraisal & Phase 1 completed in December, 2010. All City services.

Well maintained 15 unit apartment building in great location with many interior upgrades plus new SBS membrane roof. Large suites, great mix, below 1% vacancy, always full with excellent on-site manager. Strong cash flows with existing CMHC Financing. Asking Price $1.625 million at 7.0% CAP Rate.

COMMERCIAL

MOBILE HOME & R.V. PARK

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

BUSINESSES z7 Bay Auto Wash - SE Edmonton. On 0.43 Ac. VTB avail. - $1.5M z18 Hole Golf Course - Central AB. 136 Acres. - $2.75M z3 Restaurants (Bus OR Equip & Leaseholds)- Call For Info zNational Auto Repair Bus - S Edm. Bus/Equip only - $178,900

CALL AYAZ OR SAM AT 780.641.1320 zA&W Franchise Partner Program- Edm loc - Call For Info zJoey’s Restaurant Franchises - Edm locations - Call For Info zFamoso Neapolitan Pizzeria Franchises- BC- Call For Info

CALL NATHALIE LACROIX AT 780.243.7757 zBottle Depot Businesses - THREE locations in AB. Call For Info BOTTLE DEPOT BUYING & ORIENTATION - BOOK NOW! ***CERTAIN CONDITIONS APPLY***

CALL RAJAN NULLIAH 780.441.5419 zSouth Edm Indian Restaurant - Well Established - $200,000

CALL RAJ BHARDWAJ 780.983.4211

INVESTMENT zNisku Multi Tenant Building - Fully leased. 1.24 ac - $1.75M zRed Deer Commercial Bldg - Fully leased. Downtown. - $1.1M zRetail Condos W/Tenants - In Spruce Grove - $229,000 zRed Deer Commercial Bldg - Fully leased. Downtown. - $1.1M zSwan Hills Hotel - $2M Revenue - $1.3M zPremier Lodge - Valemount BC - $4.88M

CALL AYAZ OR SAM AT 780.641.1320 zSlyvan Lake - (3) Motels For Sale. Call Rajan Nulliah for info.

CALL RAJAN NULLIAH AT 780.441.5419

Asking Price: $1.7 Million (Previously at $1.8 Million) Mt. Sentinel Realty Ltd. W. Tymofievich (Water T.)

928-726-9638

mt.sentinel@shaw.ca

Subscribe 1-800-661-6988

www.westerninvestor.com Edmonton’s Business & Investment Specialists

zRetail Condo with Prime Exposure - 9356 34 Ave. - $475,000

CALL RAJ BHARDWAJ AT 780.983.4211

MULTI-FAMILY

z20+ Units Strata Titled - $98,000 per door - PENDING z21 Units - Near NAIT - $105,000 Per Door z20 Units - 124th Street - $98,000 Per Door z15 Units - West Edmonton - $105,000 Per Door

CALL MIKI O’REE AT 780.200.6454

INDUSTRIAL zLand/Bldg For Sale - Spruce Gr. 5500SF on 0.7 ac. - $849,000

CALL ALLY PIRMOHAMED AT 780.604.0302

LAND z Premier Hotel Site - NE Edm. 1.18 Ac. HWY Exposure- $1.395M z Nisku Commercial Land - 5 Lots. Zoned CS - $550,000/Acre z Nisku Land - 1.1 Acres - $479,000

CALL AYAZ OR SAM AT 780.641.1320 z 3.29 Acres HWY Land - Innisfail Development Land - $1.3M

CALL RAJAN NULLIAH 780.441.5419

LEASING z Leduc Plaza - Prof/Medical Space Avail. www.LeducPlaza.com

CALL AYAZ OR SAM AT 780.641.1320 z 10355 Whyte Ave - Retail Space 2nd Fl. 2215 SF. $38.00/SF + OP

CALL ALLY PIRMOHAMED AT 780.604.0302 z 1261, 1307 & 2774SF - Spruce Gr. Full Commission to Tenants Rep

CALL MIKI O’REE AT 780.200.6454

w w w.RemaxComm.ca

B25

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

REGIONAL ROUNDUP Lloydminster grids for retail and residential growth as oil prices tease $90 a barrel

0JM DIBOHF he downturn in the economy and oil industry left its mark in Alberta in 2009. Vacancy rates jumped. Building permit values fell. Jobs disappeared. Even in entrepreneurial Lloydminster – where residents of two provinces toil in the oil and agriculture sectors and a growing service sector – things got a little leaner.

5

But they’ve bounced back in the Border City. The proof is in the numbers, starting at $112 million in building permits. The city that straddles the AlbertaSaskatchewan border about halfway between Edmonton and Saskatoon enjoyed a true bounce-back year in 2010, with building permit values soaring back to a healthy $112.4 million. That doesn’t quite match the $122.5 million high-water mark of 2005, but it’s up 136 per cent from 2009, and a clear indicator the growing service centre is looking at more growth to come. In fact, 2010 was well ahead of the city’s 10-year average of $81.3 million in new building activity, and 2011 is looking positive as well. According to Richard Power, the city’s chief planning and development officer, the same level of new building activity – around $100 million – is expected for 2011. It’s easy to understand why.

)VTLZ BOUFT CJMMJPO

Lloydminster is roaring back with the heavy oil industry, which can thrive at $90 per barrel, particularly in a community where infrastructure and construction costs can be more easily contained. One of the area’s key employers, Husky Energy, bumped its 2010 capital budget to a whopping $4 billion late last year, and continues to drill new wells in long-established fields

to feed its Lloydminster heavy oil upgrader. Husky is also building a new office in the city, though what it spends in the fields around Lloydminster and at its upgrader is arguably far more important to the oilfield economy. Local initiatives include capturing carbon that would otherwise head into the sky, and using it for injection purposes to sustain the flow of oil to new and existing wells. The signs of confidence in Lloydminster go beyond the numbers – though 180 new singlefamily home starts and 32 new townhouse units in 2010 are nothing to sneeze at, nor can $54 million in new commercial and industrial building permits be downplayed.

-BOE EFNBOE

There is growing interest in new residential and commercial developments, according to realtor Lane Columbine of Musgrave Agencies Ltd., one of the Border City’s leading real estate and development firms. “All the residential lots we brought on, we sold in 2010,” explained Columbine, adding more new residential lots are expected from his firm in late summer or early fall. “By all accounts, it looks like there’s probably going to be more names on the list of people wanting lots than there’s going to be [lots available] in that first group of lots we bring on. Demand is high.” The company is also looking to bring forward more townhouse units, which have proved popular with investors because of their potential returns in the rental market. A $180,000 1,160-square-foot townhouse unit on the Saskatchewan side can generate rents in the range of $1,500 per month, he noted. While real estate values have long been higher on the Alberta side of the border, there are benefits to building both revenue properties and starter homes on the Saskatchewan side for some very practical reasons. One of those: the younger employees of the oil-

Photo:usJMusgrave Agencies

WESTERN INVESTOR

(TOP AND RIGHT) Building permits are forecast to top $100 million this year. Leading are residential and power-centre retail developments, such as these projects from Musgrave Agencies, which “sold every residential lot we bought on in 2010.”

patch – particularly young males – like a Saskatchewan residence that comes with much lower auto insurance rates – rates that can more than make up for income tax rate differences. Lloydminster is a place of value-affecting variables. For example, there will eventually be a Highway 16 bypass to the south of the 25,000plus city, and, where that bypass connects highway commercial land, it will affect land values. For now, the 44th Avenue/Highway 16 corridor, which carries over 14,000 vehicles a day, remains home to the priciest land, Columbine said, but forward-thinking investors should also consider the south end of Highway 17 for its value. That’s because the north-south road that

Photo: Musgrave

DAVE HUSDAL

straddles the border will be a main connector to the busy east-west Trans-Canada Highway 16 when a bypass is built. “I think land value down there will go up considerably,” he predicted.

4BMFT UBY FYFNQU

As a centre that’s exempt from Saskatchewan’s provincial sales tax, Lloydminster welcomed Future Shop, Winners and SportChek in 2010. Columbine said a commercial project known as 18th Street Crossing on the city’s south end should attract further investment this year, likely in the form of new restaurants and light retail. Yet another variable in the Lloydminster

Please see Location page B26

"MCFSUB

ICI OPPORTUNITIES EAST CENTRAL AB

We are looking for 1st or 2nd mortgage lending opportunities for:

t

Single and multi-family residential developments

t

Commercial, industrial and retail developments

3 BAY TRUCK WASH - Convenience Store, Gas/Propane, only 3 years old, finances available. FAMILY RESTAURANT - Owners retiring, will consider lease or sale of building and business. Family dining with proven financial record available to qualified buyers LIGHT INDUSTRIAL SHOP - 6,300 sq. ft., new in 2010, built for sale or lease, adjacent to new tank fab plant in Vermilion, AB

APPROX. 140 ACRES For residential development Expect 280 lots ... Close to Edmonton, Nisku & Beaumont. Be ready for the surge in 2012 !!

RAY LEWIS

NORTHERN LIGHTS REALTY (2000) LTD 5008 - 49th Ave. Vermilion, AB

1-866-262-1649 Email: hlverm2@telus.net

West Coast Realty LANGLEY

604-812-9733

t

Refinancing / acquisitions

t

Construction / land servicing

ALBERTA IS AGAIN MOVING!

t

Bridge loans

MOTELS & HOTELS

t

Income producing properties

CareVest has been providing its industry leading lending services since 1994. Our integrated real estate services specialize in the investment, financing and syndication of real estate mortgages throughout Western Canada and Ontario.

≥PROVOST Brand new 44 unit motel. Asking

$4.5M. (These motels can be bought as a unit or separately CAMROSE 40 unit motel showing Good revenue. Asking $2.9M. CAMROSE 20 unit motel, (nice Ma & Pa operation) upgraded and very clean, Asking $1.2M. HARDISTY New 44 unit Motel to open in early 2011. Phone for details. NAMPA, ALBERTAin busy boom town, 16 unit motel, 100 seat lounge, VLTs, liquor store and restaurant. PRICE REDUCED TO $990,000!

≥ ≥ ≥ ≥

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

≥ CAMROSE ALBERTA68 room, full services Hotel. REDUCED - NOW $5M. ≥ FULL SERVICES63 Unit Motel with Restaurant,

Pub, Liquor Store. Shows excellent Rev. Ask $7.7M

OTHER INVESTMENTS

≥DAYSLAND Convenience store and Gas Bar., ≥

Mechanical shop, all located on a 5 acre parcel with residence. Shows good revenue. Asking $575,000. ROUND HILL ALBERTAFully renovated and expectionally clean hotel with tavern, 8 rooms, pool table, Lg TV screen, kitchen facilities. Great Ma and Pa operation. Asking $550,000.

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

B26 Alberta

INVEST IN FT. SASKATCHEWAN

FOR ONLY $375,000+GST

6 CONDO WAREHOUSE BAYS AVAILABLE! 2,000 sq. ft. Main Floor & 500 sq. ft. Mezzanine. Attractive 14' Overhead Door & Warehouse Sump. 85% Financing to Owner/User

COME INVEST IN YOUR FUTURE

#204, 10123 - 157 Street, Edmonton, AB T5P 2T9

Barry Wade ........ (780) 699.3326 or Fred Tithecott..........(780) 818.3121

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

#PPN SBUJOH

-0$"5*0/ from B25 equation: the City of Lloydminster is currently revamping its municipal development plans that will help guide where new commercial and residential projects locate. The final approval of all those plans isn’t expected to come until spring of 2012, and 2011 will be a year of consultation with the public and landowners. While older commercial properties may lease for as little as $7 or $8 per square foot, power-centre lease rates can range above $20 per square foot in the right locations, according to Columbine.

3FOUBM WBDBODZ

While the recovery’s strength is evident in some ways in Lloydminster, it’s less tangible in other stats, like the apartment vacancy rate for the Border City, which Canada Mortgage and Housing Corp. said hit a whopping 12 per cent last fall, the highest among Alberta cities. Construction starts for apartment units in 2010? Zero. Columbine said older units are more difficult to keep filled than newer townhouse-style properties. Veteran appraiser Chuck Taylor of McInnes and Co. Appraisals Ltd. said the city’s overall residential market is relatively stable, with slight price growth in some neighbourhoods and markets. Properties were moving well late in 2010 as the oil sector’s prospects rose, he said.

The city remains a darling of the Canadian Federation of Independent Business (CFIB), which rates entrepreneurial communities with its Communities in Boom report card each year. Lloydminster was tops in Canada in 2008, according to the CFIB, then slipped to fifth in 2009 before climbing back to second in 2010. It all paints a pretty positive picture, in the eyes of Ward Read, who manages economic development for the city. “If you are a person looking to start a business, or already running one, there is really no better place to be in Canada than Lloydminster,� said Read. Lloydminster may see itself as a progressive place to do business, but it certainly isn’t resting on its laurels. Read notes the city is creating its own arm’slength economic development corporation. It’s also looking at doing even more to foster investment in small businesses by creating a formal business incubator, assuming there’s demand for such a program. Other key Lloydminster improvements have included significant capital projects by the Lloydminster Exhibition, which hosts everything from major trade and agricultural shows and conventions to concerts and weddings. Judging from the inquiries coming into Read’s office, activity in the business and housing sectors is likely to speed up as heavy oil activity grows, especially in a city where

2VJDL GBDUT ALBERTA

SASK

41 (To Edmonton)

Vermillion

Marshall

16

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LLOYDMINSTER

16

Waseca 17

Wainwright

40

14

Marsden

-MPZENJOTUFS " # Population 26,500 (17,400 on Alberta side; 9,100 in Saskatchewan) 2010 building permit values $112.4 million Apartment vacancy rate 12 per cent No. of apartments started in 2010 0 Power-centre retail leases $20 per sq. ft.

unemployment topped out at about 5 per cent in the peak of the downturn. Its location nearly halfway between Saskatoon and Edmonton almost assures that, as does its undisputed status as a retail hub. Noted Read: “Our economic strength keeps these big-box retailers considering Lloydminster, which encourages our neighbouring communities’ residents coming to Lloydminster for services.�◆

**Vendor is a Licensed Realtor in the Province of Alberta

Each office is independently owned and operated.

www.barrycampbell.ca

Successful Businesses FOR SALE

BRIAN PAGE 780-233-8438 bkpage@telus.net

PAGE REGAN

ROB REGAN

Land Development SALES RE/MAX Real Estate 780-488-4000

780-490-9324 ar_ar@shaw.ca

Family Restaurant and Lounge 18 yrs of Success, 164 Seat total, Great Lease, Solid Staff, Good Location. Modern Greenhouse Large Property with Green House and Living Quarters, Great Reputation, Gift Ware and Plants. Great volume and Loyal Staff. Water Business Huge cliental, Small Investment Good Return. Camrose Business 18 yrs Old, Hair, Aesthetics, Lingerie, Gift Ware, Inventory and Building. Downtown. All These Properties and Business are Exclusive, Many More details Available upon Request. Barry Campbell 780-360-9300 (Cell) barrycampbell@remax.net RE/MAX Wetaskiwin 780-352-9241 (OfďŹ ce)

UĂŠ ÂœĂ•Ă€ĂŒĂŠ"Ă€`iĂ€i`ĂŠ ÂœĂ€iVÂ?ÂœĂƒĂ•Ă€i AVAILABLE & 28 Block 2 lots 5 3, 4, 5, 6 Block 3 lots 2, 4, 5, 9, 10, Block 4 lots 1, , 18, 16 5, ,1 14 , 13 23 , 22 , 20 19,

UÊ£ÉÓÊ VĂ€iĂŠ7>Â?ÂŽĂŠ"Ă•ĂŒĂŠ ÂœĂŒĂƒ UĂŠ1˜`iĂ€}Ă€ÂœĂ•Â˜`ĂŠ ÂˆĂŒĂžĂŠ-iĂ€Ă›ÂˆViĂƒ UĂŠf£™Î]ĂˆääĂŠ>˜`ĂŠĂ•ÂŤt

UĂŠ*Ă€iÂ“ÂˆĂ•Â“ĂŠĂ“°x‡{°ĂˆĂŠ VĂ€iĂŠ ĂƒĂŒ>ĂŒiĂŠ ÂœĂŒĂƒ

SOLD Lot 21

UĂŠ/Ă€ii`ĂŠEĂŠ/Ă€iiÂ?ˆ˜i`]ĂŠ,ÂœÂ?Â?ˆ˜}ĂŠ ˆÂ?Â?Ăƒ UĂŠĂŠĂœĂœĂœ°Ă€ÂœĂƒiĂœÂœÂœ`iĂƒĂŒ>ĂŒiĂƒ°V> UĂŠf£Î™]™ääĂŠ>˜`ĂŠĂ•ÂŤt

EACH OFFICE INDEPENDANTLY OWNED AND OPERATED

Each office is independently owned and operated.

Alberta B27

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

%PXOUPXO /BUJPOBM )JTUPSJD %JTUSJDU

$BMHBSZ

Prime Retail Space

1600 +/- sq. ft. at $50/sq. foot, net. Restored heritage building, fabulous space, exposed sandstone, alarmed and sprinklered Put yourself in the picture: arts, theaters, city hall, Olympic plaza, museum, dining, concert halls, transit, hotels, shopping and more!

Commercial, Industrial & Residential Financing

CENTRAL ALBERTA Businesses, Investments, Sales and Lease Information

5SJ . 7FOUVSFT

Visit www.advantagecommercial.ca

Obtaining Mortgages and Loans can be made Easy & Simple!

INVEST IN ALBERTA!

or call

Contact: Frank Hickey COMMERCIAL CONDO IN CALGARY

RESIDENTIAL REVENUE PROPERTY

• 1,200 SF drive in bay • 2 Yr guaranteed lease • Central location newer construction • New condo construction • $290,000 • From $185,000 Tim Walsh, Commercial REALTORŽ • Direct: (403)239-5100

P (403) 290-1990 F (403) 269-1853 frank@concordmortgage.ca

403-346-6655

Bridge Financing Short Term Financing Private Lender 1st & 2nd Mortgages Competitive interest rates Fast approval Referrals welcome!

For further info contact: Lorne Ryz

1-888-229-0007 or 403-862-6465 c • 403-775-4343 f lorne@beauxproperties.com

Email: info@BestAlbertaRealEstate.com www.BestAlbertaRealEstate.com

Colliers International 3555 Manulife Place, 10180 – 101 Street Edmonton, AB T5J 3S4

+1 780 420 1585 www.colliers.com Retail Investment Opportunity 26,782 SF RETAIL BLDG 5011 - 48 Ave, Ponoka, AB Fully leased to 5 tenants Ponoka Towne Centre NOI - $298,367

Casey McClelland Mark Swaenepoel DIR +1 780 969 3003 casey.mcclelland@colliers.com

DIR +1 780 969 3037 mark.swaenepeol@colliers.com

Judicial & Office/Retail Opportunities 59.44 ACRES

160 ACRES

Parkland County, AB Country Residential, minutes from Edmonton

Stony Plain, AB Area structure plan completed, engineered and ready to go, financing available

80 ACRES

155 ACRES

Parkland County, AB Country Residential, preliminary development plan available

Parkland County, AB Country Residential development east of Stony Plain

420 ACRES

12,000 SF BUILDING

Parkland County, AB Next to Lake Eden Resort, good access to utilities

Edmonton, AB Freestanding building close to Downtown, Ideal Owner/User

1.75 Hwy ACRES

MULTI FAMILY LAND

Beaumont, AB 1.75 acres, highway exposure Ideal hotel location

Morinville, AB 4.47 Acres of Multi Family Land for Sale, up to 99 units available

Steven Pearson

Jeff Grobman

DIR +1 780 969 3023 steven.pearson@colliers.com

DIR +1 780 969 3031 jeff.grobman@colliers.com

Accelerating success. Multifamily Opportunity

Fort McMurray Opportunities

102 UNITS PENDING

15 UNITS AVAILABLE

7 ACRES LAND

ECO PARK

Spruce Grove, AB Built in 2003, 70% 2 bedroom 2 bath, 5 appliances, elevator

Edmonton, AB North Central, extremely large and clean units, great mix, new roof, assumable finance

Fort McMurray, AB Ready for 11,000 SF office, 16,000 SF industrial shop

Fort McMurray, AB Pre-selling & pre-leasing industrial bays, 2,000 - 43,000 SF, on Hwy 63 N., adequate parking, T5 lighting, radiant heating, and bay doors

62 UNITS PENDING Edmonton, AB Extremely large units, all 2 and 3 bedrooms have 1.5 baths, above grade

15 UNITS AVAILABLE

22 UNITS PRICE REDUCED

Edmonton, AB West end location, along west LRT expansion line, all units have balconies, above average suite prices

Edmonton, AB South side location, new windows, new boilers, substantially renovated

2.5 ACRES IN TERWILLEGAR COMING SOON Edmonton, AB

15 UNITS AVAILABLE Edmonton, AB West end location, one block away from approved LRT route, 6 three bedroom suites www.colliersmn.com\edmontonapartments

Hotels DAYS INN Grande Prairie, AB 90 rooms, new construction $9,200,000

FOLDING MOUNTAIN RESORT Near Jasper National Park Motel, cabin, RV park, campground, excess development land, recently renovated

Perry Gereluk DIR +1 780 969 2979 perry.gereluk@colliers.com

RA7 Zoning, up to 170 buildable units

Amit Grover DIR +1 780 969 3006 amit.grover@colliers.com

10020 MacDONALD DRIVE Fort McMurray, AB Proposed office development on 36,400 SF lot, zoned C5, currently a movie theatre

RESIDENTIAL CONDOMINIUM SITE Fort McMurray, AB 24-unit development permit

22,000 SF INDUSTRIAL BUILDING Fort McMurray, AB Fully leased

Jandip Deol

INDUSTRIAL BAYS FOR SALE OR LEASE

DIR +1 780 969 3043 jandip.deol@colliers.com

Ready December 1, 2010 Taiga Nova Eco Industrial Park

GRAVEL PITS

Greater Edm. Opp.

Fort McMurray, AB

132,995 SF INDUSTRIAL FACILITY

SML 070029, SML 020038, SML 030011, SML 810079, SML 040002

Sturgeon Ind. Pk., AB Sale or lease. 30,000 SF bays available. Abundant yard. Future CN Rail Service. Flexible completion options.

GROUP OF 11 LAND Fort McMurray, AB 6.75 AC, additional 7 AC adjacent site, Hwy. 63 & Gregoire Dr. exposure

Ken Shebib MOB DIR

+1 780 863 7355 +1 780 881 6297

ken.shebib@colliers.com

Wabamun Lake Lands 151.93 Acres on Lake Wabamun 2,600 feet of prime shoreline property 9.09 Acres Zoned CR 142.94 Acres zoned AGG Price: $2,920,000

DIR +1 780 969 2994 rod.connop@colliers.com DIR +1 780 969 3002 sean.day@colliers.com

Fort McMurray, AB 16,800 SF industrial building, fully leased, NOI $700,000 rising to $750,000 in 2013

National Insolvency Team

Rod Connop Sean Day

145 MacMILLAN RD.

Mark Swaenepoel

George Dawson

DIR +1 780 969 3037 mark.swaenepoel@colliers.com

DIR +1 780 969 2998 george.dawson@colliers.com

B28 Alberta

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

FOR LEASE

20,568 total sq.ft available and/or 5,000 sq.ft. bays. 1 and a half acres of yard space which is fully fenced. Brand new ďŹ rst class building ideal for ofďŹ ce, show room and/or warehouse shop. Call Bob direct for further information at 780-975-4100

Bob MacMillan 780-975-4100 (cell)

Re/Max Advantage Sherwood Park, AB

Scott MacMillan 780-975-1234

• A Flagged 134 Room Full Service Hotel with large conference Facilities among many other outstanding features, superb location with excellent exposure and very high vehicular trafďŹ c, good operational performances that includes signiďŹ cant retail revenue, very good potential upside. Asking $15,900,000. • A Flagged 96 Room Hotel featuring an excellent room/suite mix, plus some unique outstanding features that will undoubtedly enhance its performance going forward; very good ďŹ nancing is in place, the location is great, the up-side potential is very good. Asking $14,950,000. • A 99 Suite Apartment Complex in superb condition, continuously operates at a very high occupancy level that yields excellent revenues, immediate possession, an excellent buy at $9,500,000. • A Flagged Full Service Hotel, well located with highway exposure in a very diverse economic area, attested to by its continually strong revenue performances, further, it currently has exceptionally good mortgage ďŹ nancing that may be assumed. The up-side potential of an investment is this Hotel is very good. Asking $30,000,000. • A Flagged Limited Service Hotel in a very prime location, featuring excellent amenities including indoor swimming pool, it is relatively new, is currently in excellent condition and has no differed maintenance, enjoys excellent occupancy and ADR. Asking $13,700,000. • A Flagged 102 Room Full Service Hotel, well located in a prime commercial area, a dynamic city, the stellar performance of its operation is attested to by its continuous outstanding growth in revenue, plus substantial up-side potential. Asking $12,900,000. • A Flagged 92 Room Limited Service Hotel, featuring a very high number of suites in its room mix, ďŹ tness centre, indoor Swimming pool and whirlpools are a few of its many amenities, its superb location is attested to by its continuous excellent revenue performances; the condition of the Hotel is very good. There is no differed maintenance. Asking $13,500,000.

VISIT OUR WEBSITE AT: www.calgaryland.net

CURRENT OFFERINGS

$"-("3: "3&" %&7&-01.&/5 -"/%4 EAST CALGARY - 17TH AVE SE 160 Acres near Stoney Trail $23.2 Million EAST CALGARY RY - 84 St. NE Stoney Trail Trail 160 Acres near Stoney Million $32 Mi EAST CALGARY - 17 Ave SE 13.52 Acres Stoney Trail Frontage $6.08 Million EAST CALGARY - 17 Ave SE 98 Acres near Stoney Trail $15.6 Million EAST CALGARY COUNTRY HILLS BLVD 66 Acres Stoney Trail Frontage $6 Million CHESTERMERE - SIERRA VISTA Single & Multi Family, Retail, Golf Course, Area Structure Plan. 5-7 Units Per Acre 53 Acres - $6.9 Million 88 Acres - $11.5 Million 140 Acres - $18.2 Million 160 Acres - $20.7 Million

KEVIN MOORE (403) 617-2846

YOUR ADVANTAGE IN

ALBERTA

FIRST CLASS HOTEL IN GREAT CITY •Asking: $27.5M, •Revenue is about $6M •Premium 176 guest rooms & suites wrapped around 1acre garden court yard •8 meeting rooms/Banquet facility •Lounge and leased out restaurant & spa on 5 acres of land SHOPPING PLAZA, HOTEL IN BIG CITY •Asking: $14.9M •REV:$2.3M: Hotel: $1,110,695; Rental: $513,253; Others: $669,734 •48 oversized rooms plus 20 tenants and other big revenue income source •Located in big city downtown core with 4.9 acres of land and 102,000 sq. ft. building. FRANCHISE MOTEL NEAR CALGARY •Asking: $13.4M, •103 room, 4 storey •Revenue: $2.3M •High visibility from hwy. •Business is picking up & the best location with just 2 years old and growing MONEY MAKING FRANCHISE MOTEL •Asking: $10.7M •REV: $3,158,106 •3 yrs old, very busy location •Limited Service, 85 Rooms, located in very busy city LIMITED SERVICE FRANCHISE MOTEL •Asking $7.6M •3 years old, 4 storey, 60 rooms •Swimming Pool w/water slide •Situated with excellent exposure in big city, AB FRANCHISE MOTEL IN CENTRAL AB. •Asking: $7.29M, •2.35 Acres •2 yrs old, 66 rooms with swimming pool FRANCHISE MOTEL WITH LEASED RESTAURANT & RENTAL PROPERTY •Asking: $7M •NOI: $837,000 •REV: $3,185,500 •42 rooms •Lounge and Liquor Store with Leased Restaurant & others FRANCHISE MOTEL FOR SALE NEAR CALGARY •Asking: $6.8M •REV: $1.3M •12 yrs old, 49 rooms (totally renovated in 2010) •Located in booming city near Calgary w/additional 2.39 acres of land allowing for future expansion FRANCHISE MOTEL •Asking: $6.19M •81 rooms •Located steady growth town with over 10,000 Population FRANCHISE MOTEL NEAR CALGARY •Asking: $5.07M, Revenue: $1.1M •48 Rooms with owner suite plus manager suites •Steady revenue during recession period FRANCHISE MOTEL NEAR CALGARY •Asking: $5M, •41 room w/ leased Boston Pizza •1.5 Acres, ready to add 20 rooms. MOTEL IN B.C. •Asking: $5.09M •REV: $1,373,000 •81 Rooms w/Leased Restaurant & Lounge •Waterslide, Sauna, Pool •Located Trans Canada highway with amazing view •Can be converted as franchise Motel MOTEL NEAR EDMONTON •Asking: $2.49M •REV: $634,923 •40 rooms, with manager's suite MOTEL NEAR CALGARY •Asking: $1.99M •REV: $540,000; NOI: $280,000 •29 rooms, swimming pool, sauna w/3bed manager's suite. MOTEL WITH RV PARK •Asking: $1.57M •42 rooms, 3.89 Acres. •17 RV Site, 5 bedroom Managers suite TRUCK STOP & RETAIL SPACE IN CALGARY •Asking: $13.5M •Travel facility comprising 45,700 sq ft on a 16.6 Acre site, provides for future re-development •Strong sales with long history and 19 tenants including national brand name CAR WASH NEAR CALGARY •Asking: $3.89M •Revenue: $700,000 •7 bay and 1 auto. •Year: 2004. GAS BAR & C STORE WITH AUTO CAR WASH •Asking: $2.48M •Revenue: $3,711,887 (10 Month) •NOI: $337,217 •Located booming central AB. CAR WASH NEAR EDMONTON •Asking: $1.89M •REV: $340,000 •Just announced Phase 1 only 5 Billion cost project which will be completed by 2014 GAS BAR WITH CAR WASH IN GREAT CITY •Asking: $1.67M •Revenue: $3,303,344, NOI: $260,000 •Fibreglass tank, 7 Bay coin and 1 Touchless Car Wash •10,000 sq ft building located on Trans Canada Hwy in Booming City! •Well settled station in great town.

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. 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

MAXWELL

SOUTH STAR REALTY • www.leechoonho.com FRANCIS LEE, Associate Broker IC & I Full Commercial Member • Manager Business & Investment Div

For More Details

Tel: 403-253-5678

Email: choonholee@hotmail.com #20, 8180 Macleod Tr. South, Calgary

LIST

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

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1-800-661-6988

$PNNFSDJBM 3FBM &TUBUF 'SBODIJTFT #VTJOFTT 0QQPSUVOJUJFT

Alberta/Saskatchewan B29

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

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Arena district moves forward

D

evelopment of Edmonton’s downtown arena district along 104th Avenue moved another step closer in January, with city council voting to rezone four blocks of the city’s core for a new arena district and a surrounding entertainment and office district. The area could now potentially include a state-of-the-art venue for the Edmonton Oilers, who play in the second-oldest NHL arena. While the rezoning is a key step, exactly who will pay for the arena itself (an estimated price tag around $375 million) is still up for discussion, with Oilers owner the Katz Group only committing thus far to about one-quarter of the building’s likely cost. The district allows for buildings as tall as 60 storeys, a big departure from the past. That’s because heights had been capped by the presence of the inner-city airport, which is also being phased out and is slated for a massive redevelopment. (See update at www.westerninvestor.com.)

Realtors bullish on Calgary sales

T

he real estate market appears to be on its way to recovery, according to the Calgary Real Estate Board (CREB). The board released its 2011 forecast in midJanuary calling for Calgary‘s housing inventory levels to stabilize, resulting in an eventual return to “a more balanced and sustainable housing market.” The average price of a single-family home in Calgary in January was $454,163, a 3 per cent increase from January 2010. The average price of a condominium in Calgary in January 2011 was $288,291, a 2 per cent increase over last year.

In contrast, the average selling price for a single-family dwelling in Edmonton fell from January 2010 to January 2011 by about 2.3 per cent to $356,278, according to the Realtors Association of Edmonton.

Province looks to slice red tape

T

he Alberta government wants fewer departments scrutinizing new development in the energy sector – a move that may speed development approvals in the oilpatch but potentially hinder the property development indu stry. Legislation will be introduced this spring to begin implementation of a task force report whose recommendations include: s ESTABLISHING A NEW POLICY MANAGEMENT office and ensuring integration of natural resource policies; s CREATING A SINGLE OIL AND GAS REGULATORY body; s PROVIDING CLEAR PUBLIC ENGAGEMENT PROcesses; and s CREATING A MECHANISM TO HELP RESOLVE disputes between landowners and companies, and enforce agreements where required. The Canadian Association of Petroleum Producers is happy with the proposals, but the Alberta Wilderness Association has expressed concerns.

Spruce Grove opposes line

T

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algary’s on-again, off-again airport tunnel/underpass project appears on again – assuming city council will follow Mayor Naheed Nenshi and back the initiative that some deem a crucial piece of infrastructure for the expanding airport. The city announced in early February that the tunnel/underpass Cargo plane touches down at Calgary airport. and extension of Airport Trail east to 60th Street comes with a revised price tag in the range of $295 million. “I trust that my council colleagues will make the right decision for all Calgarians to build this airport underpass now,” Nenshi said in a news release that accompanied the new numbers on the controversial project. The tunnel would be a direct connection between the expanding airport and the city’s northeast sector. The main access road to the airport, Barlow Trail, is scheduled to close this April to make way for a major new runway needed for airport expansion, and northeast businesses and residents have argued the changes will bring gridlock without a major new east-west connection to the airport – something the tunnel/underpass will provide. The project would have five times the cost if the tunnel were to be dug under the new runway at a later date, according to Nenshi. The airport’s growth is undeniable. It’s the fourth-busiest airport in Canada, and one of only three with direct flights to both Asia and Europe. Passenger traffic dropped with the recession in 2009, but rebounded last year for a new record over 1.2 million. Cargo volumes also continue to grow. Assuming Nenshi gains council support as expected, the tunnel project will link into construction of Airport Trail from 60 Street N.E. to the Stoney Trail ring road in the northeast, which will be underway this spring, the city said. The city also claimed that it would cost $325 million to $425 million to make necessary improvements to the surrounding road network if the tunnel isn’t built. As well, the tunnel will provide increased potential for extending LRT service to the airport in the coming years. Photo: Clashmaker

8)"5¤4 )"11&/*/( */

he City of Spruce Grove just west of Edmonton, recently waded into Alberta’s power line debate by opposing a route option for a new high-voltage line on its fringe. The route, from an existing transmission line south of Spruce Grove, will run adjacent to the easterly Spruce Grove city limits. “This affected area is required to meet the city’s residential growth needs,” said Spruce he Town of Canmore is again being Grove Mayor Stuart Houston. “The city urged to look at a rezoning proposal believes that public perception of the 73-me- that would make already built hotel condo tre-tall towers will impact growth rates in this units easier to finance for new purchasers. crucial development area.” The proposal is being spearheaded by local

Canmore hotel condo developer seeks rezoning

T

Accelerating success. FOR SALE

FOR SALE

R.M. OF BLAINE LAKE +26 acres of land on Highway 12 30 miles northwest of Saskatoon • Irrigation rights (run with land) • Beautiful view of river and surrounding area • List Price: $195,000 MLS® • •

Graham Cowles 221 7464 graham.cowles@colliers.com

Maggie Robertson 227 6263 maggie.robertson@colliers.com

* Maggie Robertson is a licensed broker with Maggie Robertson Realty Inc. and has a contractual relationship with Colliers McClocklin Real Estate Corp.

FOR SALE

226 WHEELER ST - UNIT 1

226 WHEELER ST - UNIT 2

+2,300 SF finished with boardroom, washroom and three (3) offices • List Price: $489,000 MLS®

•

•

FOR SALE

240-103RD STREET EAST

302 MELVILLE STREET

•

39.053 SF with 6,600 SF office and 11,440 SF Cover-All • List Price: $5,360,000 incl. equip. $4,300,000 excl. equip MLS®

•

*

Kevin Johnson 281 9929 kevin.johnson@colliers.com

Ken Suchan is a licensed broker with Ken Suchan Realty Inc. and has a contractual relationship with Colliers McClocklin Real Estate

363,520 SF floorplate on 13.774 acres by logistical infrastructure Ideal for distribution, warehousing and/or manufacturing with high ceilings, freezer, cooler and warehouse • List Price: $18,870,000 Excl. Gary Compton 306 260 6975 gary.compton@colliers.com

Jason Wionzek 306 227 2408 jason.wionzek@colliers.com

FOR LEASE

805-51ST STREET EAST

1415 ONTARIO AVENUE

14,400 SF with 4,800 SF showroom/sales area and 3,600 SF shipping/receiving area • 6,000 SF warehouse 1415 ONTARIO AVENUE • 18’ side wall height in warehouse • Flexible•office space Net Lease Rate: $15.00/SF Excl. • Lorem ipsum 1,200 SF leasable • List Price: $1234.56 MLS® •

80,260 SF building 7,585 SF main warehouse • 2,700 SF second floor office • 24,576 SF basement warehouse • Net Lease Rate: $8.50/SF • List Price: $5,950,000 MLS® • •

Brian Peberdy 221 6090 brian.peberdy@colliers.com

Calgary - 38.97 acres next to city limits. Just off Glenmore Trail. $2,950,000 MLS #20105247

Lethbridge - 194 acres across from city limits on 43rd Street. $8,730,000 EXCLUSIVE Taber - 3.69 acres. Multifamily use. Across from hospital. $1,196,000 EXCLUSIVE

•

FOR SALE/LEASE

Glen Paziuk 241 8884 glen.paziuk@colliers.com

FOR SALE

FOR SALE

47,850 SF with three (3) bldgs. • 1,960 SF retail, 720 SF office and 5,470 SF car wash • List Price: $2,500,000 MLS® Ken Suchan 221 1825 ken.suchan@colliers.com

2,400 SF with one (1) office and washroom build-out List Price: $395,000 MLS®

Lloyd Minion 221 4249 lloyd.minion@colliers.com

1202 & 1204 EMERSON AVE •

•

developer Devonian Properties. The existing zoning limits residential stays to 28 consecutive days. As a result, banks treat the units as commercial properties for mortgage purposes, and have been reluctant to lend on them the way they do with residentially zoned vacation properties, according to Devonian. An earlier submission for a wholesale zoning change in the resort town was rejected by Canmore council, however.◆ - Compiled by Dave Husdal

Kevin Clackson 241 0692 kevin.clackson@colliers.com

Tony Birch 403-315-5161 Robert Kinniburgh 403-315-5154

Matt Priel 261 2375 matt.priel@colliers.com

* Kevin Clackson is a licensed broker with Mariner Management Ltd. and has a contractual relationship with Colliers McClocklin Real Estate Corp.

Colliers McClocklin Real Estate Corp. / 306 664 4433 / www.colliers.com/saskatoon

Check out these and other prime properties on www.primerealestatenow.ca

CIR Commercial Realty Inc. / 306 789 8300 / www.colliers.com/regina

MAXWELL REALTY - LETHBRIDGE

B30 Saskatchewan Tim Hammond, BSA, P. Ag. Owner - Broker www.TimHammond.ca

www.westerninvestor.com MARCH 2011WESTERN INVESTOR

306.948.5052 Office 306.948.9168 Cellular Tim.Hammond@Sasktel.net

401 Colwell Road, Rosetown, SK Commercial property ideally located next to Highway #7. Building #1 (office & shop) 4,800 Sq Ft, heated, new asphalt shingles (~$30,000), former residential suite above office, 3 phase power, 2nd storey mezzanine storage with elevator. Building #2 (warehouse) 2,400 Sq Ft metal building used for cold storage. $160,000 MLS 384616.

Location! Location! Location! 307 Main Street, Rosetown, SK (Nickells & Diamonds) Incredible commercial property featuring 3,400 Sq Ft building with 2,420 Sq Ft of elegant, open retail space. Updated and renovated. Shows very well. $185,000 MLS. Optional jewelry / gift ware business available. Potential Tenant willing to pay $1,500/mo. MLS 384857.

601 Saskatchewan Ave. E, Outlook, SK. Former Farm Service Centre with an ideal location. Building #1 (office/warehouse building) 7,320 sq ft, heated front office and front workshop, 8,160 sq ft cold warehouse storage area. Building #2 (Bulk Fertilizer Storage) 3,528 sq ft with 2 overhead doors. Offers unlimited potential for a variety of uses. $427,500 MLS 38529

A & D Foods, Perdue, SK $179,900 MLS 381333 Well established grocery store/liquor vendor located in Perdue (about 35 min. West of Saskatoon). Very clean & well maintained. Price includes: land, buildings, fixtures, & equipment. Inventory is extra and will be valued at cost upon completion (Typically $50K - $60K). Solid, consistent sales. Back currently used for office & storage but was once used for a residence.

INVESTMENT OPPORTUNITY 2410 – 22nd Street West, Saskatoon, SK WESTGATE PLAZA Leaseable Space: 63,101 sq. ft. Sale Price: $14,500,000.00 Contact: Jim Woytiuk

INVESTMENT OPPORTUNITY 105 South Service Road, Hwy 2 Wakaw, SK – FOR REAL ESTATE ONLY Land Size: 1.95 acres or 90,792 sq. ft. Building Size: 8,748 sq. ft. Sale Price: $550,000.00 Contact: Barry Stuart and Kelly Macsymic

ICR Commercial Real Estate icrsaskatoon.com ME

605A Main St. N. MOOSE JAW, SK LANDMART

Independently Owned and Operated

Email: landmart@sasktel.net Web: www.royallepagelandmart.com

COMMERCIAL PROPERTIES - MOOSE JAW, SK

Well established seed cleaning plant, home, and ½ section of good farmland 4 miles W. of Mossbank. Strong client base, well maintained equipment and buildings, plenty of grain storage, and an active B&B business in the home. Don’t miss this great opportunity.

Prime commercial property in Moose Jaw. Beautiful big store front windows. Excellent location. This is an excellent facility with endless possibilities. Call for details.

Excellent commercial property suitable for many types of businesses. Located on the North Service Rd. in Moose Jaw. 16 acres. Multi-purpose buildings. Service road frontage with easy access and good visibility from TransCanada highway. Call for details.

Call Brian Walz or Mike Walz (306) 631-1229 or (306) 631-7232

INVESTMENT OPPORTUNITY 430 Central Street West, Warman, SK Land Size: 0.42 acres or 18,295 sq. ft. Building Size: ±3,400 sq. ft. Sale Price: $695,000.00 Contact: John Kachur and David Kerr

Downtown office: 306.664.6116

INVESTMENT OPPORTUNITY 102 Wall Street, Saskatoon, SK Land Size: ±5,484 sq. ft. or ±.13 acres Building Size: 5,081 sq. ft. Sale Price: $1,365,000.00 Contact: Josh Walchuk and Corey Peterson

North office: 306.933.2929

“Saskatchewan’s largest commercial real estate company”

NT

DONE DEALS SUPERIOR LOCATION • 238 Main Street, Saskatoon SK • Quiet residential street • Bright & sunny corner lot • Boulevards & meridians on two sides • Three blocks to river & Broadway Ave • Within walking distance of downtown & university

MAINTENANCE-FREE STRUCTURE • Masonry construction • 50-year cottage-style steel roof (R50) • Many other energy-efficient upgrades • Smoke-free & pet-free property • 15 years of continuous upgrades • 18 large & bright, well laid-out suites

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

Please send us the following information: UÊ 7 >ÌÊÜ>ÃÊà `Ê ÀÊ i>Ãi`¶Ê UÊ 7 ÊÜ>ÃÊÌ iÊÛi ` ÀÊ­ vÊ« Ãà L i®¶Ê UÊ 7 ÊÜ>ÃÊÌ iÊLÕÞiÀÉÌi > Ì¶Ê UÊ vÊÌ iÊ > iÊ vÊÌ iÊLÕÞiÀÊ ÃÊV wÊ`i Ì > ]Ê« i>ÃiÊÌi Ê Ü >ÌÊÌÞ«iÊ vÊLÕÞiÀÊ­ °i°]Ê, /]Ê ÃÌ ÌÕÌ > ]Ê V> Ê ÛiÃÌ À]Êv Ài } Ê ÛiÃÌ À]Ê Ü iÀÉLÕ `iÀ®Ê UÊ 7 ÊÜ>ÃÊÌ iÊ ÃÌ }Ê>}i ÌÉ>}i VÞ¶Ê UÊ 7 >ÌÊÜ>ÃÊÌ iÊÃi }Ê«À Vi¶

$4,000,000

Please forward this information directly to

Frank O’Brien,

Western Investor Editor at

(Normalized net income of $200,000 )

Contact: Doug

(306) 222-5676

wieditor@biv.com.

FRANK O'BRIEN Editor

www.westerninvestor.com • 1-800-661-6988

B31

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

REGIONAL ROUNDUP Rental apartments and industrial space have lowest vacancy rates in the country

FRANK O’BRIEN WESTERN INVESTOR t was more than 110 years ago when a group of Toronto temperance members founded the site of what is now the largest city in Saskatchewan. Modern Saskatoon has since shaken off its anti-liquor roots, but the city is now reeling through the tightest real estate market in the country.

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Consider the residential rental scene, which with a 1.8 per cent vacancy rate, makes Saskatoon among the hardest places in the country to find an apartment. The situation is so acute that the city has launched a program to provide low-cost money for renters to help them buy a home. Last month Saskatoon city council voted unanimously in favour of establishing an Equity Building Program – a five-year plan which will provide low-interest loans to 50 tenants a year to help them become homeowners. Qualified renters must repay the money in five years, have good credit ratings and annual incomes of between $45,000 to $70,000. The program, the first of its kind in Canada, will be done in partnership with Affinity Credit Union. City councillors say the program may help free up rental units for lower-income renters in an already tight housing market. The relief would likely be welcome. The typical rent for a two-bedroom apartment rose 3.3 per cent last year, to $935, and Canada Mortgage and Housing Corp. (CMHC) forecasts it will rise to $950 this year. There are no rent controls in Saskatoon. It all sounds like a sweet setup for a rental investor, but veteran realtorDel Peters quickly kills that buzz.

“There are no apartment buildings in Saskatoon for sale,” said Peters, who has been running ads asking any owners to call him if they want to sell. Peters adds the market may have already outpaced the typical small investor. “A crappy West Side building is $50,000 a door,” he said. Expect to pay up to $80,000 to $90,000 per suite for concrete rentals in better areas. “These are record-high prices,” Peters said. Smaller investors will also have to compete against big players – such as Calgary-based Boardwalk REIT and others – who have local agents on speed dial and are willing and able to pounce quickly. Peters doubts the city’s rental help plan will make much difference. “Whenever government gets involved in the market it is usually a bad idea.” While tight, the Saskatoon rental market is actually better than at any time in the past five years after it hit an all-time low of 0.5 per cent in 2007. The only new rental construction is in condo apartments, 14 per cent of which are now being rented, according to CMHC, but it is tough to make positive cash flow on condo rentals when the average condo price is north of $200,000. The City of Saskatoon has moved to restrict conversions of rentals to condos, though this trend had already been slowing.

Photos: Colliers McLocklin

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TOP: Saskatoon expected to boast the highest GDP growth in the country this year. for city-owned industrial lots were selling for LEFT: Industrial: Saskatoon warehouse $295,000 to $335,000 per acre last January and with 363,500 square feet, listed for sale at they all sold out by May. A second phase of $18.8 million.

lots was released in July at from $385,000 to $480,000 per acre. The latest lots came to market last November. Less desirable than previous releases, they are being listed in the $350,000 range, according to Colliers McClocklin Real Estate Corp. The industrial vacancy rate is at a historical low of 2.7 per cent, down from 3.7 per cent a year ago and the lowest rate in Canada, notes company principal Tom McClocklin, who expects demand to remain high in 2011. “Prices will climb to more than $400,000 per serviced acre for serviced, desirable land in favourable locations,” he said. So why the tight industrial market? It breaks down to size and scale. Saskatoon has only about 20 million square feet of industrial, similar to a Greater Vancouver suburb, and has only been adding about 500,000 square feet a year, a pace that likely won’t change among the city’s careful developers. “Less than half the new *OEVTUSJBM The City of Saskatoon is a major player in the industrial is being built on spec,” McClocklin industrial market as the major source of ser- said. Also, most of the new construction is relaviced land. And business has been good. Prices tively modest. Of 13 of the largest new indus-

trial buildings completed last year, more than half were less than 30,000 square feet. Investors thinking about industrial condos may find Saskatoon worth a visit. There is a small amount of condo space. The best properties sell for up to $212 per square foot but you can find small-footprint strata in the $150to-$180-per-square-foot range. The only new condo industrial underway is an 18,000-squarefoot property on Kochar Avenue. Since such space can lease for $11.50 to $13 per square foot, it may be a good buy-and-hold play. Afte all, prices for industrial land have nearly doubled in five years and the next decade looks good for Saskatoon. “Saskatoon is the gateway to the north,” McClocklin explained, noting that the city is a major staging and service area for mining companies, potash companies and suppliers to the Alberta oilpatch. The power of potash is seen in Saskatoon’s office market, where BHP Billiton – which lost

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Commercial Properties Regina Area TURN KEY Licensed Pizza Restaurant. Regina Beach SK Resort. Training available. Asking $445,000. 'SNACK SHACK' At Lumsden, SK. 40th year in business. building and equipment. 14 acres prime commercial development. Asking $765,900. 'DAIRY BARN' At Indian Head. Turn Key summer - fast food outlet. Package includes 10 acres: 4 separate lots zoned commercial. Highway frontage. Asking $375,000. VICTORIA AVE EAST REGINA 2 acres prime Development land. Zoned commercial. Asking $1,950,000. GLOBAL TRANSPORATION HUB Pinkie Road & Dewdney Avenue area. Prime Locations. ADJACENT TO EAST SIDE OF REGINA 600 acres- Future development!

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The overall office vacancy rate is 6.5 per cent downtown, but the lack of prime space has convinced some tenants and developers to head to the suburbs for the first time. The downtown market is seeing some refurbishing activity, however. An old theatre was recently converted to office space and a city building is being made over into 30,000 square feet of offices. Future projects include a potential 70,000 -square-foot tower, and an estimated 100,000 square feet that is planned for the landmark River Landing mixed-use complex on the city’s waterfront. But Class A lease rates would have to rise from the current $30 net per square foot – the lowest among Canada’s major cities – to make new office construction viable, local realtors suggest.

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Saskatoon continues to lead the country with retail sales growing more than 4 per cent per year, according to the Conference Board of Canada, which picks the city for near-nationleading economic growth this year. The city

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Thriving restaurant in Burstall Saskatchewan. Excellent location in main business area . 42 seats with full kitchen, walk in cooler and pizza oven. All current equipment is included in the asking price. This property features a two bedroom furnished living quarters attached to the restaurant, added in 1971. The business is showing good sales with attractive net income. Excellent opportunity for a young couple to grow a business. Statement of income & expenses available to serious buyers.

out on a $40 billion hostile takeover ofPotash Corp. last year – recently leased all 50,000 square feet in the only new Class A building in downtown Saskatoon. The Class A office market in is made up of just four buildings, and all are fully leased, McClocklin said.

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also has Canada’s lowest unemploymet rate. Demand for retail space is strong, with a vacancy rate of 2.2 per cent. New retail construction includes 240,000 square fee t at University Heights Square and 300,000 square feet at Blairmore, a big-box development that already houses Wal-Mart. McClocklin notes that retail was the second most popular real estate investment in Saskatoon over the past year, just behind land and ahead of industrial.◆

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REDBIRD LAND Two prime quarters of land in RM of Aberdeen. Approx. 12 miles from Saskatoon on paved highway. 2nd quarter has four separate titles and is set around a natural fed 20 acre pond. MLSÂŽ. $399,900.

SHADY BAY RESORT At Meeting Lake, Saskatchewan. 10.77 acres. Fully operational campground with 25 lots and an additional 28 possible. 30 amp and 20 amp service. Also 25 titled cabin lots. MLSÂŽ. $1,999,999. ProďŹ table business shows steady growth. Bumper to Bumper franchise, Poulan, Boss and Rockomatic & Rockmaster and Westward Parts dealers. Located in Cudworth, SK, 6340 sq ft,ofďŹ ce, retail, warehouse shop areas. $263,900 MLSÂŽ

Newly built 20 bay Mini Mall storage. Fenced compound 150 feet hwy 2 frontage. Complete turn-key zero vacancy, room for expansion. $199,900 MLSÂŽ Saskatoon

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

KIRK FARM Five quarters of good producing farm land minutes north of Saskatoon. Good access. One quarter has been subdivided into four 40 acre parcels. Great holding property. Owner may rent. MLSÂŽ. $1,600,000.

HALABURA FARM Approx. 150 acres of land in the RM of Aberdeen north of Saskatoon. Land overlooks the South Saskatchewan River. 30 acres of virgin prairie not touched by agriculture. Fabulous views. MLSÂŽ. $320,000.

STEWART FARM 313 +/- acres in the RM of Aberdeen. Only 4 minutes to Aberdeen on Clarkboro Ferry Road. Presently rented for pasture. Great hobby farm setting. MLSÂŽ. $320,000.

BURKE LAKE 590 +/- acres 8 miles from Saskatoon on Hwy #5 around Burke Lake. Rolling hills and scenic views thru out. Excellent development property. MLSÂŽ. $8,888,000.

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Each office is independently owned and operated.

Saskatchewan/Manitoba B33

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

the feel of one of Toronto’s most famous neighbourhoods. Merchants and restaurateurs along the popular street are taking their cues from the Beaches, the kitschy lakefront area in southeast Toronto that’s renowned for its heavy walking traffic from morning until night. The goal on Academy is to avoid the heavy nightlife scene of nearby Corydon Avenue and instead increase the mix of unique boutiques, coffee shops, patios and restaurants. t has been called the nicest office space To make it more walk-friendly, the between Calgary and Toronto, it has appeared in two Hollywood productions and Academy Road Business Improvement Zone has completed the first of what it hopes will it can be yours if the price is right. be many “pocket parksâ€? along the street. The longtime home to Canwest Global Communications, the top three floors of 201 Consisting of some park benches in some areas of green space and a historical plaque Portage Avenue in the heart of downtown denoting local landmarks, it’s hoped pedesWinnipeg has been put on the market by trians will be encouraged to take a load off to Creswin Properties. people watch or rest their weary legs. The offices, which were designed by “Walking leads to patronizing more busiCanwest founder Izzy Asper, appeared in nesses,â€? said Jenny Tasker, chair of the busithe 2004 Hollywood blockbuster Shall We ness improvement zone. Dance starring Richard Gere and Jennifer Some merchants are even hoping to take Lopez and the made-for-television movie The Crooked E, which told the riches-to-rags story a page out of Academy Road’s history and relaunch a cable car – modernized, of course, of Enron. and minus the wiring and rails – or rickshaws The 22,000 square feet over three floors, to connect the east and west ends of the which has been empty since Canwest went street during certain times of the year. bankrupt and was sold off last year, features a winding staircase, private elevator and an all-glass boardroom. It is expected to fetch approximately $19 per square foot per year. Wayne Johnson, a commercial and leasing specialist with Royal LePage Dynamic Real Estate, said the space would likely only be suitable for a head office operation. ithout a major upgrade, the Winnipeg Considering Winnipeg has lost a number of Convention Centre is in danger of corporate headquarters in the last couple of being left in the dust by bigger and fancier years, he’s not optimistic that a single tenant facilities across the country. could be found to fill it. Klaus Lahr, president and CEO of the In fact, he said it’s likely all three floors 37-year-old downtown landmark, said it needs will be gutted. a $200 million renovation just to reclaim its “No matter how good it looks, most of the No. 5 national ranking in the convention centime, you’re ripping it out,â€? he said. tre game, which it stands to lose before the end of the year when Ottawa and Niagara Falls christen new buildings. He said the three levels of government need to agree quickly on a funding plan or millions of dollars of much-needed spending by convention delegates will be lost this year and potentially for years to come. hey won’t be able to duplicate the lake Lahr said it’s a sad state of affairs for the but the brain trust behind Winnipeg’s Academy Road is doing all it can to capture building, which was the first of its kind in 8)"5¤4 )"11&/*/( */

Canwest’s deluxe offices for lease

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Convention Centre bids for big reno

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Academy Rd. aims for chic shoppers

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Canada when it opened its doors in 1974. It has 78,000 square feet of exhibition space and another 80,000 square feet for meetings but Lahr said it needs to almost double its space to be able to attract big-time events. “We’re going to be pushed to the margins of the convention centre business,� he said.

Ben Hernandez, managing partner of the Virginia-based chain’s new Brandon outlet, said he’s hoping leases will be completed shortly for three in Winnipeg – one on Kenaston Boulevard near McGillivray Boulevard, Pembina Highway near the University of Manitoba and in Transcona. He said the plan is to open another five locations shortly after that, too. “We’re hoping to begin construction within the next couple of months,� he said. U.S. president Barack Obama, who made a much-publicized stop at a Five Guys location shortly after moving into the White House, e’ve already got the Big Mac, the isn’t the only high-profile personality to have Whopper and even the Nip – how acquired a taste for the high-end burgers. about the Obama Burger? Golfer Phil Mickelson recently bought franThe newest hamburger franchise to enter the Manitoba market, Five Guys Burgers and chise rights for Five Guys in Orange County, California.◆ Fries, counts the most powerful man in the world among its fans. – Compiled by Geoff Kirbyson

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nce you walk in the door, it only takes a few seconds to see Sunova Credit Union’s strategy for differentiating itself from the competition. The Selkirk-based financial co-operative has just hired its three highest-profile employees for a trio of new branches. The three, which are training for their positions as directors of greetings (D.O.G.), aren’t your run-ofthe-mill employees – they’re St. St. Bernards harnessed for public relations. Bernard puppies. They’re following in the paw prints of Takoda, a five-year-old St. Bernard, which Sunova has employed at its Selkirk branch since 2006. Vanessa Foster, Sunova’s director of marketing, said its executive team wanted a large, gentle breed to greet customers as they entered the branch. Sunova opened a new location in Winnipeg’s North End in January, while another one on Main Street and a third in Oak Bank are scheduled to open their doors in March. Foster said it didn’t take long for Takoda to become the face of Sunova. In fact, it has become known as “the credit union with the dog.� She has a bed near the front entrance and has been trained to remain in the branch and not wander into the adjacent head office. She has also been used in advertising campaigns and ridden on parade floats. “We have members who come in to see the dog and we have people who have transferred their business to us because of Takoda,� Foster said.

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www.westerninvestor.com MARCH 2011WESTERN INVESTOR

SPOTLIGHT Flin Flon brightens as HudBay invests in $560m new mine and traditional life returns

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WESTERN INVESTOR ess than a year after 250 of its citizens received their walking papers with the closing of the town smelter, optimism has returned to Flin Flon.

The fortunes of the northern Manitoba town of 5,800 have been closely tied to the mining industry for 80 years and that’s not going to change any time soon. With the majority of the exploration expenditures in the province this year focused in and around Flin Flon and mining prices higher than they’ve been in a decade, town officials are hoping the stage is being set for the next 80 years, too. “These are very exciting times for Flin Flon and Snow Lake,� said Ed Huebert, executive vice-president of the Mining Association of Manitoba. He said of the $85 million committed to exploration this year, nearly $45 million is being directed to Flin Flon and the surrounding area. Some of the area’s projects are advanced and looking for corporate and government approval to become mines while others are at early-stage exploration. The positive vibrations are in stark contrast to the feeling

Photo: Town of Flin Flon

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Flin Flon: past, future tied to mining.

last June when the copper smelter connected to HudBay Minerals’ main 777 mine near Flin Flon shut down.

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HudBay also announced late last year that it plans to spend $280 million on capital expenditures and at least $33 million on exploration activity in 2011 in Manitoba. The bulk of that has been committed for the development of its $560 million Lalor gold, zinc and copper mine near Snow Lake just a few kilometres away, and the expansion of its 777 mine. Joe Buie, economic development and business analyst for Community Futures Greenstone, a federal government program

Population 8,500 Average house price $150,000 Potential $560 million mine; further exploration

helping communities plan for a changing economy, says metal prices have improved to the point where companies are reassessing mines that were mothballed years ago. “Now it’s feasible to open some of those previously closed mines,� he said. While mining will forever be the backbone of the Flin Flon economy, town officials are hoping to build up some secondary industries to cushion the blow during the inevitable downturns in ore prices. Fishing and hunting lodges are growing in popularity and eco-tourism is starting to show signs of a long-term future, too. Flin Flon is also the centre of a trading area with more than 10,000 people. The Canadian Tire, Wal-Mart and Extra Foods attract people who used to drive to Prince Albert to do their shopping, Buie said. Mayor George Fontaine said he’s working hard to get some seniors housing built in Flin

Flon. The construction of 60 or 65 units would cause a real “ripple� in town as younger people would move in to the houses the seniors are selling. “We don’t have any empty house sitting here. I’d like to see a housing boom. The next one we’ll see is when they open the next mine,� he said.

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Despite the closing of the smelter, it’s been business as usual in Flin Flon’s housing market, according to Cheryl Hordal, a broker at Nordmark Realty. “We noted a slouch in the starter home category which was due to uncertainty in the job market for younger people but it was offset by the normal vigorous demand for the upper-end homes,� she said. She said housing prices remained static in Flin Flon in 2010. A 1,000-to-1,200-square-foot home with a garage sold for about $180,000 last year while a mid-range home in upgraded condition fetched between $100,000 and $150,000. But lately buyers have been looking upmarket, where a shortage is looming. “We generally are in balance with supply and demand. The only shortage I have seen is in the $180,000-and-up market,� Hordal said.◆

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Franchises B35

WESTERN INVESTOR MARCH 2011 www.westerninvestor.com

Flip Flop Shops tries on shoes

Photo: Flip Flop Shops

ice cream stores in the U.S. At least two well-known Vancouver business executives have invested in the Flip Flop Shops concept, including Vancouver Canucks president Chris Zimmerman and Ritchie Bros. Auctioneers CEO Peter Blake. A Flip Flop Shops franchise costs from $167,300 to $272,500, with an initial franchise fee of $28,000. There is a royalty fee of 5 per cent and an advertising fee of 0.5 per cent of gross sales.

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franchise tool launched in early February hopes to connect prospective franchisees with franchisors via an online hoenix-based Flip Flop Shops, North hub that leads hopeful entrepreneurs to America’s first retail chain exclusive to flip-flops and sandals, is expanding its foot- the business purchase process – with a wear lines to include cold-weather footwear. little help from social networking. Tom Hochstatter, co-founder of “Just because it’s cold outside, doesn’t FranchiseProcess LLC, says the online mean you have to kick your ‘free your toes’ FranchiseProcess tool helps franchisee hopelifestyle to the curb,â€? said Brian Curin, the president of Flip Flop Shops. “We have every- fuls “get to the starting line of the reward process for a franchiseâ€? by guiding them thing from Uggs to Sanuk Sidewalk Surfers in ‘chill’ styles and Reef’s new Coastal Cruiser through all of the initial groundwork, like getting finances in order and finding attorline.â€? neys and accountants. In addition to warm, closed-toe styles, The process integrates social networking to select Flip Flop Shops locations are currently help the prospective franchisee engage with offering däv rain boots to keep toes dry durbrands and other professional services along ing rainy days. Founded in 2004, Flip Flop Shops has more the way. Hochstatter says entrepreneurs are not than 30 shops currently operating as well as interested in getting calls from brokers or 50-plus shops in development. Vancouver’s having to fill out generic forms on a brand’s Flip Flop Shop, which is on West Fourth website. FranchiseProcess, he says, creates an Avenue, opened its doors three years ago. online environment where brands and leads Curin said his goal is to have five stores in Vancouver, 12 in B.C. and 236 across the U.S. can meet in the middle to find a perfect fit. “It’s controlled by the lead candidate or and Canada by 2013. prospect,â€? Hochstatter said. “We let them A transplanted American now based in Vancouver, Curin was one of the original part- drive.â€? To use the service, franchisee hopefuls ners in the successful Cold Stone Creamery

Flip Flop Shops: stepping up offerings.

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urrey-based RAMMP Hospitality Brands Inc. has bought the 19-store Mr. Mike’s Steakhouse and Bar chain and is planning an aggressive expansion, beginning in Western Canada. Mr. Mike’s is the latest addition to RAMMP, which also recently acquired The Pantry and Rockwell’s restaurant chains. “We immediately saw the potential of the Mr. Mike’s brand. It’s a menu that goes well beyond just steak and appeals to everybody,� said Mike Cordoba, RAMMP CEO. Cordoba said RAMMP plans to double the size of the chain – which at its peak had 90 units – and move east in the next five years. Initially, it plans to open new outlets in Vancouver, Edmonton, Regina, Mike Cordoba, CEO, RAMMP Hospitality, plays waiter at the Mr. Winnipeg and Calgary. Established in 1960 with its first restaurant on Mike’s on 200th Street, Langley. Granville Street, Vancouver, Mr. Mike’s has evolved from a popular, self-service restaurant to an award-winning, mid-range, casual dining chain with operations in more than 19 cities. The latest acquisition means that RAMMP now boasts 38 restaurant units in Western Canada: 19 Mr. Mike’s; 15 Pantrys and four Rockwell’s, with an additional Rockwell’s location under construction and scheduled to open this April. Mr. Mike’s new ownership team comes with more than 100 years of restaurant, retail and consumer goods experience. The team brings a depth of expertise with Canadian brands such as Boston Pizza, The Keg, White Spot, Milestones, Canadian Springs and Mr. Lube, Cordoba said. Prior to the takeover, a Mr. Mike’s franchise required a total investment of from $600,000 to $1.2 million, including a franchise fee of $50,000. RAMMP may introduce a new franchise model. Photo: Richard Lam

News, views and updates on Canada’s franchise industry

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sign up for accounts on FranchiseProcess and fill out information about themselves. They then create a list of brands they’re interested in franchising and work on achieving certain goals those brands have set forth as part of their qualification. Prospective franchisees can also create a network of people on FranchiseProcess that help them make it to the point when they’re ready to purchase a franchise. Member brands on FranchiseProcess have the ability to monitor entrepreneurs interested in franchising their brands and can engage with them on the system, Hochstatter added. By moving through the process, prospective franchisees prove their worth to their franchisor, he said. “By virtue of following this

process, you’ve proven to the brand that you are in fact willing to follow a process, which makes the most successful franchise owners in the first place.� FranchiseProcess has already partnered with more than 300 brands. Several top quick-serve brands, like Subway, are listed on its site. Hochstatter says FranchiseProcess ultimately wants to help small-business owners. Leads that are unqualified for certain brands are not discarded but, rather, are guided to other potential brands, he explained. FranchiseProcess, part of the International Franchise Association, officially launched February 8.◆ – Compiled by Kevan O’Brien

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FRANCHISE WITH EXPERIENCE A franchise partnership with DQÂŽ, a Berkshire Hathaway Company, enables you to enjoy the benefits of a well-established family of concepts such as:

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UĂŠĂˆä³ĂŠĂži>Ă€ĂƒĂŠÂœvĂŠvĂ€>˜VÂ…ÂˆĂƒÂˆÂ˜}ĂŠiĂ?ÂŤiĂ€Âˆi˜Vi UĂŠ-ĂŒĂ€ÂœÂ˜}ĂŠLĂ€>˜`ĂŠĂ€iVÂœ}Â˜ÂˆĂŒÂˆÂœÂ˜ UĂŠ-Ă•LĂƒĂŒ>Â˜ĂŒÂˆ>Â?ĂŠÂŤĂ•Ă€VÂ…>ĂƒÂˆÂ˜}ĂŠĂƒĂŒĂ€i˜}ĂŒÂ…ĂŠ>˜`ĂŠ>`Ă›iĂ€ĂŒÂˆĂƒÂˆÂ˜}ĂŠÂŤÂœĂœiĂ€ UĂŠ Ă?ViÂŤĂŒÂˆÂœÂ˜>Â?ĂŠvĂ€>˜VÂ…ÂˆĂƒiĂŠĂƒĂ•ÂŤÂŤÂœĂ€ĂŒĂŠĂƒiĂ€Ă›ÂˆViĂƒ Our Vision for the Future “We will be the franchise food system of choice!â€? DAN DEMERS

CHRIS FALLE

FRANCHISE DEVELOPMENT MANAGER AB/MT

FRANCHISE DEVELOPMENT MANAGER BC/SK

Phone:

780-569-1963

Email:

dan.demers@idq.com

Phone:

(604) 952-0202

Email:

www.dairyqueen.com

chris.falle@idq.com

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www.westerninvestor.com MARCH 2011 WESTERN INVESTOR

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