Western Investor December 2011 Section B

WESTERN CANADA’S GUIDE TO COMMERCIAL REAL ESTATE, FRANCHISES AND BUSINESS OPPORTUNITIES INTERIOR B.C. • ALBERTA • SASKATCHEWAN • MANITOBA SECTION

Every Month!

1-800-661-6988

Prairie sales and prices seen stable and strong Ralph Fyfe, president of Winnipeg Realtors Assoc.: “We are in for a very healthy market in 2012.”

12 AVIAWEST SEEKS SHELTER

Facing near $100M debt, B.C. resort developer wins extension for creditor protection

PB.C. hoo: JuHIdy Gr

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5 OUTLOOK FOR HOUSING 2012

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Marketing commercial real estate in Western Canada.

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23 BATTLEFORD EYES OIL BOOM

City rushes land sales to meet developer demand

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27 STEVE NASH HITS HAT TRICK

Basketball superstar proves expertise in the sports franchise arena SPECIAL SECTION • B12

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HOT PROPERTIES

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

Deals.

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

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$4.29 DECEMBER 2011 Vol. 26/Issue 12

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

www.westerninvestor.com DECEMBER 2011WESTERN INVESTOR

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

www.colliers.com/kelowna

TOWER RANCH GOLF RESORT MULTI FAMILY DEVELOPMENT

PRINCETON INDUSTRIAL ESTATES

OFFICE BUILDING, PENTICTON

s FULLY SERVICED

LOTS AVAILABLE IN NEW INDUSTRIAL PARK

s #!0 RATE ON ./) OF

s 'OVERNMENT TENANTED s SQUARE FEET RENTABLE AREA List Price: $1,930,000

s .EW PRICE REFLECTS DOOR #$ ZONE ALLOWS FOR SINGLE FAMILY TOWNHOUSE OR MULTI FAMILY MAXIMUM OF HOMES Reduced from $22,500,000 to $14,500,000

FOR SALE s )NDOOR #AR 4RUCK 7ASH W # 3TORE s 'AS 3TATION WTH # 3TORE s #OMMERCIAL #ARDLOCK

s 3IZES RANGE FROM ACRE UP TO ACRES

MULTI TENANT INDUSTRIAL, PENTICTON s .ET INCOME OF

s LEASED INDUSTRIAL PROPERTY s SQUARE FEET ESTIMATED ',!

List Price: $2,900,000

s 0ROPANE #ARDLOCK

#ALL BROKER FOR PRICING MIKE GEDDES

JACK SHABBITS & ERIC WEBER*

247 BRIDGE STREET, PRINCETON

COMMERCIAL BUILDING, SUMMERLAND

0ERSONAL 2EAL %STATE #ORP

DOWNTOWN KELOWNA

264 LOUGHEED ROAD, KELOWNA s YIELD ON ./) OF ANNUM s 3INGLE TENANT NEW YEAR LEASE IN PLACE s SQ FT MAIN SQ FT MEZZ List Price: $1,080,556

CHAD BIAFORE & MARSHALL MCANERNEY* * PERSONAL REAL ESTATE CORP.

s 4RIPLE ! DEVELOPMENT SITE WITH HOLD ING INCOME LOCATED IN THE BLOCK OF "ERNARD !VENUE VERY CLOSE TO /KANAGAN ,AKE

JEFF HUDSON* & MARSHALL MCANERNEY* *PERSONAL REAL ESTATE CORP. www.bcip.ca

SQ FT STORY COMMERCIAL BUILDING IN 3UMMERLAND RESERVED PARKING STALLS ZONED #"

ND FLOOR ALLOWS FOR DWELLING UNIT ,IST 0RICE

MEGHAN O’MARA

$IP)4 2EAL %STATE

s SQ FT BUILDING FORMER GROCERY STORE ON SITE PARKING STALLS

SITE COVERAGE ON ACRE List Price: $1,175,000 BOB GAULEY

COLDWELL BANKER COMMERCIAL WORLDWIDE LARGE CONSTRUCTION PROJECTS UNDERWAY IN OUR AREA BLOCK MOTEL NINE UNIT & MOBILE HOME REDUCED TO $695,000

52 UNIT APARTMENT COMPLEX

C-STORE, GAS BAR, LIQUOR STORE, POST OFFICE

28 UNITS STRATA TITLED PRICE $2,995,000 Gerry McCasky (250) 231-0900

TIME & PLACE

Jack McConnachie (250) 231-5222

30 UNIT APARTMENT GREAT LOCATION NICE SHAPE

5 ACRES 5800 SQ. FT. BUILDING CURRENTLY RESTAURANT & PUB

CHRISTINA LAKE $489,000

PRIME RIVER VIEW LOCATION, BUS STOP IN FRONT, MAINLY SENIORS, ALWAYS FULL $1,650,000

Reduced to $749,000 HOTEL, LIQUOR STORE, RESTAURANT $549,000 DER SALE

COURT OR

Price Reduction DEVELOPMENT PROPERTY $669,000

4000 Sq. Ft. plus 2500 Sq. Ft. building now leased. $4,000 per month triple net.

1ST TRAIL REAL ESTATE LTD.

100 ACRES

PROPOSED

LARGE INDUSTRIAL SITE 24 LOT DUPLEX MAJOR POWER LINE SUBDIVISION 4TH MAJOR GAS LINE STAGE OF EXISTING POTENTIAL COGEN SITE SENIOR HOUSING DEV. $750,000 $888,800

EUROPEAN BAKERY HIGH VOLUME OWNER RETIRING, WILL STAY ON AND TRAIN $300,000

MILANO PIZZA & CHICKEN TAKE OUT $169,000

Excellent Volume. Vendors will train.

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

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FEATURES 5 0/ 5)& $07&3 )PVTJOH NBSLFU TUSPOH JO

On the cover Winnipeg realtor executive Ken Fyfe sees continued strength in housing market into next year.

Photo: Ruth Bonneville

Prairie centres expected to see higher sales, prices

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

17 -FUICSJEHF CBOLT PO TUBCMF QVCMJD QBZSPMMT

41&$*"- 4&$5*0/ Â… #

Governments make up nine of top 10 employers

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

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

23 /PSUI #BUUMFGPSE UIF OFYU OFX PJM UPXO

Experts see rush of investment near northern fields

2–10 */5&3*03 /035)&3/ # $ 3&"- &45"5&

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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

RARE NEW FEE SIMPLE MIXED USE BUILDING! Approx. 6,581 sq. ft. - 3 residential suites & 4 commercial Stratas including a full height basement to utilize for storage, etc. It’s a BUY! Newly constructed corner fee simple mixed use building is completed, 2nd oor 3 Residential tenanted Suites. Main oor consists of 3 commercial strata units, approximately 3,354 sq. ft. - ideal for retail, professional or commercial use. Superior construction! Commercial bays are available for viewing at any time. Asking: $2,000,000 for Building, Asking: $1,2000,000 for Main Floor Commercial Space plus HST MLSŽ

APPROXIMATELY GREAT LOCATION IN THE PANDOSY CORRIDOR - TO BE BUILT ! Priced individually - New Strata Commercial/Residential Mix building. Commercial bays on 1st & 2nd oors.

Main oor - $557,420 for 1,378 sq.ft. 2nd oor $1,216,499 for 3,307 sq ft. 3rd oor Penthouse - residential priced at $834,640 1,834 sq ft & $711,450 1,581 sq ft each. All measurements to be veriďŹ ed by survey. The building can be purchased for $3,000,000 net usable 8,100 sq. ft.

Call Ken or Kris for details.

115.68

ACRES

Land assembly in North Glenmore / University District. Minutes from Kelowna’s International Airport. One side abuts golf course in Quail Ridge subdivision. Property is fenced.

Lot D 70.80 Acres $5,318,000 Lot 1 15.63 Acres $1,315,800 Lot 9 11.62 Acres $ 962,200 Lot 10 9.10 Acres $ 773,500 Lot 8 8.98 Acres $ 763,300 This assembly comprises 5 lots that can be purchased individually or as a complete package. Call Ken or Kris for details. Asking: $9,132,800 MLSÂŽ

PRIME SERVICE COMMERCIAL LEASE

- recently combined into approximately 1,990 sq ft of main oor OfďŹ ce or Retail Space on St Paul.

Central downtown location, close to shopping restaurants and bus service. Available For Lease: $2,239 plus TNet and HST MLSÂŽ

Both Sites 6.5 Acres – New Price $6,500,000 MLSŽ (Plus DLC – Latecomer Charges)

NEW TILT UP INDUSTRIAL BUILDING LEASE SPACE

support your business that requires an open retail bay, boardroom, ofďŹ ces and bonus mezzanine.

Footprint 3,324 sq. ft. and 1,415 sq. ft. mezzanine. Prominent location on busy Leckie Rd. Ideal for Service Commercial Professional. Can convert bay doors for shop space. Busy area. Asking: $4,000 per month + Cam, Taxes + HST MLSÂŽ

RETAILER WANTED – OFF BERNARD AVE. Retail main oor, good parking, for Lease

PRIME DEVELOPMENT SITES – WINFIELD TOWN CENTRE FULLY SERVICED AND READY TO BUILD 3.83 ac. Commercial Site s 0AD 3ITES BOTH w/drive thru s 3& Retail/Hotel Space s 3& OfďŹ ce Space 2.67 ac. Senior Housing Site s 2ESIDENTIAL 5NITS s 3& 2ETAIL 3PACE s #OTTAGES n 2ESIDENTIAL (OME /FlCE

on McCurdy Rd - 4 Industrial Bays available. 3 units approx. 1,569.6 sq ft. Corner unit also available 735 sq ft. Warehouse, electric, 200 amp., 3 phase power. Open parking. Ready for your improvements.

Asking: $12.50 psf plus CAM MLSÂŽ

SENIOR CARE ZONING Approximately 2.06 acres vacant land in Westbank on Elliott Road. Located in an area which is increasingly being developed into commercial properties. Currently zoned R3D - permitting congregate housing, minor home based business, major day care centre, group or accessory buildings and structures.

Asking: $2,500,000 + HST MLSÂŽ

PRICE REDUCED! BUILDING AND LAND FOR SALE at Reid’s Corner Commercial Strata. Building approximately 4,212 sq ft. Current zoning C10 – Commercial Mixed use. Easy access from Hwy 97N and close to Kelowna’s International Airport. This property is also available for Lease. Asking: $550,000 or Lease at $11.00 psf plus NNN + HST MLSŽ

A VERY RARE OFFERING in the Cedar Avenue Land Use Area. OCP delineates Commercial C4 or C9 zoning. This revenue producing two storey “Inn� under a B & B License incorporates 2 separate kitchens, 8 bedrooms, 5 bathrooms with 3 full living areas in the +/- 3, 887 S.F. of Living area. 21’ above ground pool & 8 man hot tub accentuate the lakefront lifestyle across from a future park/beach/lake access in a convenient walk to everything in the South Pandosy corridor.

Asking: $1,650,000 + HST MLSÂŽ

B4 Interior B.C./Business Opportunities BUSINESS AND INVESTMENT OPPORTUNITIES UÊÊ >À}iÊ >V iÉ7i ` }Ê- «Ê– Suitable for investor or owner/operator. Includes land & buildings. fÓ°ÓxÊ

#APTURE THE

DECEMBER 2011 WESTERN INVESTOR

INVESTOR ALERT! GREAT OPPORTUNITY! Eleven 2-bedroom stratified townhouse-style apartments for sale.

UÊ Vi Ãi`Ê >ÀiÊ >V ÌÞÊ qÊ > «ÃÊ – 9 bedrooms, 7 bathrooms on spacious lot. Built in 2008. Has all amenities needed. Well-priced atÊfÈÇx]äää

Own 11 of the 18 units!

Refurbished in 2008, all units tenanted. In-suite laundry, storage units, plenty of parking.

Good location. $1,975,000.

COMMERCIAL BUILDINGS UÊ > «Ã – 2 Tenants – 8.5% Cap

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UÊ }> Ê > i – 3 Tenants - Well Established "7ÊfÓÇ ]äää UÊ > «Ã – Future Highrise expansion

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UÊ >V iÊ Àii – Hwy Frontage – Secure Yard

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

FULLY LICENSED PUB & RESTAURANT FOR SALE Located in Kamloops overlooking the Thompson River. 300 seats, 3 patios, and well equipped kitchen.

Call BO

SKAPSKI for more information: 250-808-5508 info@boknowshomes.com www.BoKnowsHomes.ca

E $

AL FOR S

DWIGHT VOS

www.445Holbrook.com

,000 0 0 2 , 1

East Kootenay, BC FAMILY RESTAURANT BUSINESS

One of Southeast BC’s Most Successful Family Owned & Operated Dining In & Catering

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

$100,000 PRICE REDUCTION - CHRISTINA LAKE CAMPGROUND

Will Sell Building as an option 6500 Sq Ft Modern Building FIRST TIME ON THE MARKET IN OVER 20 YEARS!

For more information contact:

ROSS PRIEST (Owners’ Consultant)

Call 604-722-1282 for information

(250) 417-7479 priestross@shaw.ca

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UÊ{° £Ê VÀiÊ Vi ÞÊ/Àii`Ê*À «iÀÌÞ UÊ ÃiÊÌ Ê >À}iÊ«ÕL VÊLi>V UÊ ÝVi«Ì > ÞÊÜi Ê > Ì> i` UÊ*iÀviVÌÊv ÀÊÃi ÊÀiÌ Ài`ÊV Õ« i

New Asking Price $699,000

NORTH OKANAGAN SELF STORAGE

SUN PEAKS

SKI R ESORT

Come join the fun and own a piece of paradise in one of Canada’s top 3 ski resorts.

UÊÊÓ°Ç£Ê VÀiÃÊUÊ, Êv ÀÊ Ý«> à ÊUÊÊ } Ê Ý« ÃÕÀiÊ V>Ì UÊÓxnÊ1 ÌÃÊÊUÊÊ* ÕÃÊnäÊ"ÕÌ` ÀÊ-Ì À>}iÊ-«>Vià UÊ VÀiÌiÊL V ÊV ÃÌÀÕVÌ ÊÊUÊÊ > >}iÀ½ÃÊ,ià `i Vi UÊ ° °Ê/ «Ê£äÊ1 >Õ Ê V>Ì ÊÊUÊÊ-i iÀÊ >ÞÊV>ÀÀÞÊ ÀÌ}>}i UÊ À ÃÃÊf{nä]äää³É ÊÊUÊÊÇ°ä¯Ê >«Ê,>Ìi Asking Price $4,695,000

$519,000 - 44 – 5000 SUN PEAKS ROAD

$299,000 – 36 – 6005 VALLEY TRAIL

Beautifully designed and tastefully decorated 3 bedroom/3.5 bath side/side townhome. The award winning architectural design and curb appeal makes TRAILS EDGE a desireable Sun Peaks location. True ski-in/ski-out property backing onto the Morrisey ski run and forested ski terrain. This beautiful recreational property has recently been updated with new furniture & freshly painted in today’s contemporary colours. Open fl oor plan with vaulted ceiling, cozy gas fi replace, gourmet kitchen, granite throughout, stainless steel appliances, heated tile fl oors and your very own private hot tub off the family room. Secure single car garage. Square footage - 1,797. HST Paid

The 2 Bedroom/2 Bath condo at CRYSTAL FOREST, is ideally located just a short walk to the main village, skating rink & recreation centre. Ski-in location and a short 5 minute walk to the Morrisey Lift or the main lifts in the village. Fully furnished, cozy gas fi replace, ski-locker, owners lockoff and 2 underground parking stalls. High speed internet and cable included in maintenance fees. Square Footage – 850. HST paid.

$489,000 - 55 – 5000 SUN PEAKS ROAD Prime Ski-in/Ski-out location at the Award Winning TRAILS EDGE townhome development. Located at the top of Trails Edge, you can ski right to your back door. After skiing, relax by the cozy rock fi replace or soak in your personal hot tub. 3 Bedroom/2 ensuites/1 Bath, comes fully furnished. Extra sleeping space in newly constructed family room in the basement. Secure single car garage. Square footage – 1,876. HST Paid

$267,000 – 20 – 2120 SUN PEAKS ROAD This fabulous 2 bedroom/2 Bath condo at SUN MOUNTAIN VILLAS is attractively priced at $267,000, with gorgeous mountain views and backing onto the Valley Trails and the Graham Cook designed golf course. Condo has recently been updated in today’s contemporary design, with sophisticated lines and effi ciency in mind. Top of the line stainless steel appliances included along with some furnishings. Private secured single car garage with extra parking out front for 1 more car. Square Footage – 994. HST Paid

FORECLOSURE SALE - FORMER GOLF COURSE UÊÊ , Ê ", -]Ê Ê UÊÊΣxÊ VÀiÊ- Ìi UÊÊ ««À Ý >Ìi ÞÊÓÊ ÊÀ ÛiÀÊvÀ Ì>}i UÊÊÎ] äÊ-µ°Ê Ì°]ÊxÊLi`À Ê }Ê i UÊÊ vÊV ÕÀÃiÊ >ÃÌÊ «iÀ>Ìi`Ê ÊÓää ÊÃi>Ã Ê UÊÊ£nÊ i]Ê«>ÀÊÇÓÊV ÕÀÃi UÊÊ ÝVi i ÌÊv>À Ê > `Ê ÀÊÀi «i Ê} v UÊÊ-i iÀÊ >ÞÊ>Ãà ÃÌÊÜ Ì ÊwÊ > V }

$219,000 – Lot 19 - 5322 LOOKOUT RIDGE LOCATION LOCATION LOCATION. This dream home building site offers exceptional ski-in/ski-out access from your front/back door. Larger Lot with beautiful panoramic views of the mountains. Generous buildout period. Building access from the front and back.

Owner purchased property for $279,000 – he wants it sold and has reduced the selling price to $219,000.

Lot square footage – 10,818.

$319,000 – 117/118 – 3190 CREEKSIDE WAY COMMERCIAL BOUTIQUE space in the well located FIRESIDE LODGE. A total of 819 Square feet suitable for retail/offi ce space. Located in the heart of Sun Peaks Village with all the amenities that Sun Peaks has to offer. Sun Peaks is a world class ski resort located only 45 minutes from Kamloops, B.C. Time to get in now for the upcoming 2011/2012 ski season.

FOR MORE INFORMATION ON THESE PROPERTIES AND OTHERS AT SUN PEAKS RESORT, PLEASE CALL:

DEBORAH PETERSMEYER M C M R E A L E S TAT E LT D. (OFFICE)

250-372-2277 (CELL)

Asking Price $1,200,000

$300,000 PRICE REDUCTION !

PRIME FARM-HOLDING LAND - OSOYOOS UÊ À iÀÊ- ÌiÊ Ê } ÊÌÀ>vwÊV]Ê } ÊiÝ« ÃÕÀiÊ V>Ì ÊÜ Ì £äää³ÊvÌ°Ê } Ü>ÞÊÎÊvÀ Ì>}iÊ« ÕÃÊ££ÇxÊvÌÊ-iV `>ÀÞÊ, >`Ê À Ì>}iÊUÊ/ Ü ÊÃiÜiÀÊEÊÜ>ÌiÀÊ>ÌÊ ÌÊ iÊ UÊ6iÀÞÊV ÃiÊÌ Ê > iÊUÊ V Õ`iÃÊ ÕÃiÊEÊ «iÀ>Ì }Ê ÀV >À`Ê UÊÊ Ài>ÌÊ V>Ì Êv ÀÊv>À Ê}>ÌiÊÜ iÀÞÊ ÀÊ>}À Ì ÕÀ à ÊLÕà iÃÃÊ New Asking Price $1,695,000

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TOWN HOMES WITH STORAGE ...

FOR ALL YOUR TOYS !

ONLY 7 HOMES LEFT

UÊ9 ÕÀÊ Ü Êi V Ãi`]Ê ÊVi }ÊÃÌ À>}iÊL>ÞÊ >À}iÊi Õ} Êv ÀÊ>Ê{xÊvÌ°Ê Ì À i UÊ ÕÝÕÀ Õà ÞÊ>«« Ìi`Ê£ÊLi`À ÊÌ Ü iÊUÊ i` >ÌiÊ VVÕ«> VÞ UÊ6 à ÌÊwww.cactusflats.caÊv ÀÊ ÀiÊ v À >Ì Offered at $299,000. Call about winter pricing incentives.

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

250-819-1108

250-492-2233 / 1-800-567-6770

deborah@mcmrealestate.ca

RE/MAX FRONT STREET REALTY, PENTICTON, B.C.

B5

WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com

COVER Residential outlook for 2012 positive for both home sellers and landlords right across the Prairies

4UFBEZ BT TIF HPFT "

fter a slower start to 2011, housing starts are ratcheting upward in Alberta’s two largest cities.

Calgary’s housing starts were up in August 2011 over the same month a year ago – marking the first month in a year that single-family housing starts have increased over the previous year.

Overall, according to Canada Mortgage and Housing Corporation data, Calgary area housing starts were up 44 per cent to 1,237 units in August 2011, from 858 a year ago.

While that’s a positive trend for builders and developers, year-to-date housing starts in the region were off 18 per cent for the first eight months of 2011 to 5,425, down from 6,641.

Single-family starts comprised 3,350 units, or a little more than 61.7 per cent of starts.

Things were also looking up in the Edmonton region in August.

Edmonton area housing starts were also up in August, from 690 starts for the month last year, to 805 units this year. That 17 per cent hike is below Calgary’s, but still positive.

Year-over-year housing starts were still down in the capital region, falling 16 per cent from 7,018 last year to 5,890 in 2011.

Multi-family starts have been the key driver this year in Edmonton, according to CMHC. They’ve been running almost even with 2010, with 2,691 recorded for the first eight months of this year. That’s close to 46 per cent of all Edmonton area housing starts. “Notable gains in apartment construction have pushed year-to-date multi-family starts to

Photo: Ruth Bonneville

WESTERN INVESTOR

just nine units shy of the production pace last year,� notes CMHC’s Edmonton area housing update for September.

Colliers International predicts the demand for new and existing apartments in the Edmonton market will be healthy for sellers in 2012. “When quality product does come to market, the result is usually a multiple bid scenario. There simply isn’t enough product to satisfy the appetite out TOP: Winnipeg realtor Ralph Fyfe of Century-21 there,� Colliers says in its Bachman and Associates: “We are in for a very latest Edmonton multi-famhealthy year.�: LEFT: Saskatoon home builders are ily update. “If there’s any coming off a near record year, but slowdown in starts advice we can offer owners seen in 2012 despite incentives for new home buyers. contemplating sale – if your building is well maintained, the number of interested buyers will signifi- The upturn in both cities is based on stronger 4BTLBUPPO job and immigration growth and persistently One of the brightest spots for the residential cantly increase.� low mortgage rates. sector in all of Western Canada, Saskatoon wil )PVTJOH TUBSUT The average new detached house price in see an 18 per cent increase in housing starts While 2011 housing starts are down overall Calgary is expected to increase 1.3 per cent this year and an 11.6 per cent increase in resale in Edmonton and Calgary, both markets have next year to $548,000, and up even more mod- housing. seen prices of new homes rise. In Calgary, for estly in Edmonton, to $520,000.

Next year, while still strong, does not look so example, the median selling price for a new rosy. The forecast is that home builders, facing single-family hit $480,271 in August 2011, up 7BDBODZ SBUFT competition from the resale sector and buffeted 9.6 per cent from August 2010.

Total rental units started in the Calgary market by job losses, will start work on 2,500 homes CMHC pegs the price increase in Edmonton for the first eight months of 2011 hit only 49. in 2012, down about 11 per cent from this year much lower, only 4 per cent from August 2010 In stark contrast, CMHC identified 604 starts The average price of a new detached house is to August 2011. The latest median price for for the rental market in Edmonton for the first expected to rise only 1.4 per cent next year, to Edmonton was $452,424, about 5.8 per cent two thirds of 2011. $388,000. below Calgary.

There is a small overhang forming in The forecast is for Calgary’s rental vacancy Housing starts in Edmonton will rise 11 rate to dip slightly next year to 3 per cent, and Saskatoon’s condo market, with an estimated per cent in 2012 to 10,100 units, compared to level at the same rate in Edmonton.

1,300 units finished as of August, a 66 per cen 9,100 units this year. Nearly 4,000 of these new The tighter vacancy rate will mean higher increase from a year earlier. homes will be multi-family units. average rents in both cities – Alberta has no “Builders will scale back and focus on selling Calgary will post only 8,500 housing starts rent controls – and the end of rental incentives units currently under construction,� according this year, but will see an 11 per cent surge in that had been common this year. Good news for to CMHC’s Saskatoon office. CMHC expects 2012, to 9,400 new homes, CMHC suggests. landlords, but tougher for tenants.

Please see Rentals page B6 Photo: Sunridge Homes

DAVE HUSDAL, CALGARY GEOFF KIRBYSON, WINNIPEG

*OUFSJPS #SJUJTI $PMVNCJB KAMLOOPS, BC & AREA s Future Mobile Home Park Clearwater, BC n 15 acres plus 2.7 acres, highway commercial.

$279,000

KAMLOOPS, BC PUB & LIQUOR STORE FOR SALE FOR SALE

s Kamloops Warehouse – 18,000 sq ft loading

PENTICTON

docks. $7.00 per sq ft plus triple net. Some refrigeration.

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

s Main Street Lease Space – 946 sq.ft retail

available

for

lease

Jan

$1,999,000

1/2012

$1202.00 plus portion of taxes

PENTICTON

s MiniMall Barriere, BC – 5 units plus vacant lot, hwy frontage. Good investment.

$399,900

s Commercial Building, 4 Bedroom Suite – Clearwater BC Building just under 4000 sq ft. Ÿ acre lot. Current use is restaurant.

$274,900

s )NVESTMENT n "USINESS 0OTENTIAL n #HASE "# Large building has pub, liquor store & restaurant plus 2nd oor for future development. Price includes land, building, pub license, liquor store license and equipment. Selling below assessment.

$465,000

s Telecommunications Business – Kamloops BC Owner retiring. Business sells, installs, & repairs telephone & voice mail systems, data wiring, ďŹ ber optic cable installations.

+!-,//03 2%!,49 ,4$

LAKEFRONT PENTHOUSE WITH MOUNTAIN VIEWS AVAILABLE IMMEDIATELY

INVESTMENT OPPORTUNITY UĂŠ7iÂ?Â?ĂŠiĂƒĂŒ>LÂ?ÂˆĂƒÂ…i`ĂŠ*Ă•LĂŠEĂŠ ÂˆÂľĂ•ÂœĂ€ĂŠ-ĂŒÂœĂ€iÊ­™nĂŠĂƒi>ĂŒĂƒĂŠ>˜`ĂŠÂŤ>ĂŒÂˆÂœÂŽĂŠ UĂŠ Â˜ĂŠLĂ•ĂƒÂˆÂ˜iĂƒĂƒĂŠvÂœĂ€ĂŠÂœĂ›iÀʙÊÞi>Ă€Ăƒ UĂŠ Â˜Â˜Ă•>Â?ĂŠÂˆÂ˜VĂ€i>ĂƒiĂŠÂˆÂ˜ĂŠĂƒ>Â?iĂƒ]ĂŠVÕÀÀiÂ˜ĂŒÂ?ÞÊ>ĂŒĂŠfĂŠĂŽĂŠÂ“ÂˆÂ?Â?ˆœ˜ UĂŠ ÂœV>ĂŒi`ĂŠ>`Â?>ViÂ˜ĂŒĂŠĂŒÂœĂŠ/Ă€>Â˜ĂƒĂŠ >˜>`>ĂŠ ˆ}Â…Ăœ>ÞÊ>˜`ĂŠÂ˜iĂœĂŠĂ€iĂƒÂˆ`iÂ˜ĂŒÂˆ>Â?ĂŠ>˜`ĂŠVœ““iĂ€Vˆ>Â?ĂŠ`iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒ UĂŠ"ĂœÂ˜iÀÊÀiĂŒÂˆĂ€ÂˆÂ˜}°ÊÊ Ă€ÂˆÂ˜}ĂŠ"vviĂ€Ăƒt

Asking $2,800,000 (price includes building/land, furniture, ďŹ xtures & equipment)

$175,000

Mona M. Murray Dip. ULE, RI (BC), CPM

1-250-319-8784

250-372-2277 mona@mcmrealestate.ca

www.realestatekamloops.ca

PENTICTON LAKEFRONT PENTHOUSE AMAZING VIEWS OF OKANAGAN LAKE & AVAILABLE IMMEDIATELY

2 BDRM + DEN NEW PRICE $1,499,000

OSOYOOS 10 INCOME PRODUCING LAKEFRONT RV LOTS

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

Call MARVIN MATT mmatt@shaw.ca

1 BDRM + DEN NEW PRICE $479,000

www.mcmrealestate.ca

monarkinvestments.ca

604-592-7250

Financing Available. Potential Trades.

B6 Interior British Columbia SALMON ARM, B.C. Reduced to $600,000

www.westerninvestor.com DECEMBER 2011 WESTERN INVESTOR

3&/5"-4 from B5

1SBJSJF IPVTJOH PVUMPPL

DEVELOPMENTAL LAND AND

multi-family starts to fall 21 per cent in 2012 to 950 units.

A wild card is takeup on a Saskatoon City incentive that provides assistance to new home buyers, which resulted in 176 new home sales in the past two years. If the plan becomes heavily subscribed it could boost demand for lowercost condominiums and townhomes.

In the resale market, 3,800 homes are forecast to sell next year, slightly lower than in 2011.

Average resale prices should continue to rise, advancing 2.1 per cent in 2012 to $314,000.

Saskatoon continues to look like a strong market for landlords over the next year. The rental vacancy rate will rise from 3.6 per cent this year to 3.8 per cent in 2012, according to CMHC, but average rents are expected to climb 2 per cent.

since the average new house price is expected to increase nearly 4 per cent to $490,000.

Expect Regina’s apartment vacancy rate to be around 2 per cent next year, with the average two-bedroom apartment renting for $950 per month. Job growth is driving both rentals and home sales, with a projected 4.9 per cent unemployment rate in Regina next year, the best of any urban centre in Canada.

GOLF COURSE FOR SALE

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Housing sales in Saskatchewan’s capital will reach 3,700 units next year, up 1.4 per cent from 2011 and among the best years in the city’s history The average detached house price will also surpass the previous record set this year, as prices are predicted to increase 3.3 per cent to $285,000 in 2012.

Starts of new homes, coming off a recordsetting pace in 2011 – the highest level since 1987 – will dip about 5 per cent next year, with 800 detached houses and 1,425 multiple units breaking ground according to CMHC. Still, this is a very strong showing for Regina, especially

Winnipeg’s rental vacancy rate will remain in the 1 per cent range in 2012, CMHC says, which contines to rank it among the lowest in the country. The reasons are an improving economy, higher in-migration and job creation, plus the loss of rental units to condo conversions over the past few years.

Rental construction has increased, with 490 apartments started in the first eight months of this year, but it will be awhile before that makes a dent in the tight vacancy rate.

Winnipeg is under provincial rent controls, which caps rental increases next year to 1 per

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 six-plex. 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.

SALLY SCALES sallys1@telus.net or 250-832-4831

IN THE BEAUTIFUL BC INTERIOR

162 Acres 9-Hole Golf Course s Club House s Residence s Trades Considered s s

Dwight Vos 250.371.7992 Tracy Mackenzie 250.318.2938

BEST-WEST REALTY LTD. 250.554.4511

City Calgary Edmonton Saskatoon Regina Winnipeg

Sales 2011*

Sales 2012

2012 Avg. Price

22,700 17,200 3,800 3,700 12,200

$411,000 $336,000 $314,000 $285,000 $250,000

22,000 16,700 3,850 3,650 12,000

VERNON & AREA

What a terrific business opportunity. 20,000 sq. ft. lower floor of a commercial building (lease) situated in North Kamloops. 18 lane bowling alley, 110 seat Licenced Restaurant, 100 seat sports Bar & Grill, Licenced Pool Room, and many updates, including new floors, new tables, new chairs, totally new menu, new TV’s and a new complete fully equipped bar in the bowling alley area. This may very well be the best kept secret in Kamloops. Grossing in excess of $1,320,000, and the price is only $645,000

T R A D E S C O N S I D E R E D O N S E LE C T P R O P E R TI E S

marketing your franchise?

Call Christine:

1-800-661-6988

PREMIUM STORAGE YOU OWN! GARAGETOWN - VERNON Premium Storage with a difference- YOU OWN IT! - 47 fully customizable units. 20x48, 24x48 and larger w/14’ overhead doors plus a drive-through model. Ideal for RVS, boats, collectors, retail and business overflow. Level 3 acre site w/ quick access to all major routes. Fully furnished Owners Lounge! Offering preconstruction incentives from $125,900 MLS® CARWASH – WILLIAMS LAKE Profitable and well maintained! Great Family operation or for absentee owner. ½ acre lot, 3 high pressure truck and 3 medium pressure car bays, new detailing business. $949,000 MLS® TOURIST COMMERCIAL ON OKANAGAN LAKE .23 level acre across from public beach!

Older home with long term tenant. $650,000 MLS® RETAIL/WAREHOUSE WITH SUITE 10,800 sq.ft - flexible use. High visibility on main commercial road across from Mall. Tenant would like to stay. Great holding property. $1,199,000 MLS® TRANSCANADA HIGHWAY FRONTAGE 1.8 acres with 500’ frontage. Previously operated as Gas station, store, restaurant, launderette.

Includes rental suite and 5 unit mobile home park. Main store built in 2003/ Sold As is Where is. Opportunity! Close to Sicamous, BC. $515,000 MLS® NURSERY/HORSE SET-UP In heart of Coldstream Valley! Turn key operation! Steady Growth! Equipment, automated greenhouse, vehicles, comfortable home with suite, office. 20 prime irrigated acres w/ set up for horses. $1,600,000 MLS® COMMERCIAL STRATIFIED OFFICE 2000sq.ft 3-4 offices, workspace, kitchen, baths, onsite parking. $479,500 MLS® SERVICE COMMERCIAL BLDG Excellent Highway exposure- 2 blocks from downtown, across from Mall. Excellent location! Level, paved .95 acre. 10,900 sqft bldg, Fenced compound. $1,395,000 MLS® SERVICE COMMERCIAL DEVELOPMENT SITE Ideal for end user or subdivision. Fully serviced area w/access from 2 or 3 roads.

Zoning allows for 10,800 sq.ft +. Multiple uses including residential above main floor. $5,750,000 MLS® INDUSTRIAL SITE! Nearly 3 level acres on frontage road with high exposure to highway.

Ten minutes to city centre. Ideal for manufacturing business. Plans for building available. $888,000 MLS® IDEAL FOR WATER BASED BUSINESS .51 level acre zoned I1 Light Industrial. 18’ x 30’ shop and 3 bdrm house. Located between downtown and yacht club/boat launch. Next to airport. Rare Find! $399,000 MLS® OKANAGAN RANCH 681 acre Ranch (or potential development) 20 minutes from Kelowna International Airport & City of Vernon. Adjacent to world class Predator Ridge Golf Course and Sparkling Hills International Resort. Rolling, open and treed land w/some stunning Kalamalka Lake views. 180 acres out of ALR. $6,495,000 MLS®

1-800-317-1118 or 1-250-549-7050

(604) 669-8500 westerninvestor.com

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

3 per cent 3 per cent 3.8 per cent 2 per cent 1.2 per cent *MLS Sales and prices – all resale housing Courtesy, Canada Mortgage and Housing Corp.

THIS COULD BE YOUR CHRISTMAS WISH COME TRUE

Adam Yakubowich @ Best West Realty @ 250-554-4511 or 250-371-4801 (anytime)

Rental vacancy rate 2012

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

cent, but new units are exempt from the legislation. As a result, CMHC is forecasting average rents to spiked 4.5 per cent this year and a further 3 per cent in 2012 to around $900 for a two-bedroom apartment.

Total new home starts in Winnipeg are forecast to reach 3,750 units in 2012, maintaining a strong pace seen since 2009. The average new house price is expected to rise to $409,000.

As for the resale market, sales are forecast to increase modestly from this year to 12,200 in 2012, with the average resale price at $250,000 next year, up about 4 per cent from 2011.

Ralph Fyfe, president of Winnipeg Realtors and an agent with Century-21 Bachman and Associates, says low house prices, low mortgage rates and consumer confidence are setting the stage for another strong resale market next year in Manitoba’s biggest city, "We are coming off the best sales year since 2007," he said.

“Winnipeg is still a bargain. If those conditions remain in place, we’re in for a very healthy market, in 2012,” Fyfe said. ◆

Do you have a

VOJRVF QSPQFSUZ Advertise your listings in our special

)05 1301&35*&4 feature.

Reach potential buyers with money to spend.

Western Investor readers have higher than average household income and a real interest in real estate.

Recreational Real Estate ADVERTISING FEATURE:

• Limited spaces • 4-colour ads • Special rates 604-669-8500 • 1-800-661-6988 advertise@westerninvestor.com

Interior British Columbia B7

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

B

.C.’s harmonized sales tax (HST) is dead but it continues to haunt developers of high-end homes, who say confusion over the HST phase-out has stalled sales and forced price discounting. The main issue is new homes priced at $525,000 or more, n $8 billion federal government shipwhich don’t qualify for HST rebates, a building contract is expected to boost Vancouver Board of Trade panel discussion demand for commercial and industrial real estate in North Vancouver, with the uptick on the Metro Vancouver housing market was told last week. expected to start next year. “This is really hurting us in the new-home “Now is the time to be looking for space business,� said Ward McAllister, president on the North Shore,� said Terry Thies, a principal with Avison Young, who has been and CEO of McAllister Ledingham Ltd., a Vancouver developer. “We don’t have any discussing real estate needs with North transition rules yet. What is amazing to me Vancouver-based Seaspan Marine Corp., is that it took three days to bring this tax in which landed the multibillion-dollar conand now they are telling us it will take up to tact on October 19. Thies said it is “still 18 months to unravel it.� early in the game� for Seaspan, which has McAllister said, “Any of our product at sufficient facilities to start the largest fed$525,000 or over is just sitting.� Developers eral procurement contract ever awarded in are forced to make deals and discount prices, B.C. Thies said it is likely that demand for both he said. The former president of the Urban industrial and office space in North Vancouver Development Institute said the development industry has been “begging� for clear transiwill begin to ramp up in mid-2012 as suppliers and contractors for the huge project begin tion rules on the HST since a summer referendum killed the controversial tax. “The first to assess their real estate needs. meeting [with the province] to discuss this is The North Shore industrial market, November 15,� he said. dominated by North Vancouver City According to a housing outlook from and District, currently has an industrial vacancy rate of 2.1 per cent, according to a Canada Mortgage and Housing Corp., newsurvey by Cushman & Wakefield, and has housing starts in B.C. are forecast to fall 2.5 the highest warehouse lease rates in Metro per cent in 2012, to 27,600 units, after posting a 7.6 per cent increase this year.

Vancouver, at from $10 to $15 per square foot. There is 140,000 square feet of new industrial space under construction on the North Shore. Prices for industrial land are also the highest in the province, averaging $2.5 million to $3 million per acre of serviced industrial.

Thies noted that the North Shore has a oyal Dutch Shell, with Asian-based 7.7 per cent office vacancy rate, which had partners, has bought a liquids import been expected to increase after two new terminal in Kitimat from Cenovus Energy, office buildings completed this year at the fuelling speculation of a new liquid natural Dollarton Business Park and at 1860 Lonsdale gas (LNG) port being built in the area.

Avenue, North Vancouver City. With the shipCenovus took over the 42,000-barrel-peryard contract announcement, the vacancy day Kitimat facility a year ago from methanolrate could now be lower by next year, Thies production giant Methanex. suggested.

To date, three liquefied natural gas (LNG)

Ship deal floats N. Van real estate

A

Shell buys Kitimat terminal

R

BUY

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

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

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

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etro Vancouver’s strong economy and consumer demand for retail options has prompted American retailers to target the Lower Mainland for expansion even as they close stores at home.

North Carolina-based Lowe’s Companies Ltd. opened its first B.C. store November 1 – two weeks after it announced store Ramona Paul, manager of U.S.-based Lowe’s new store in New Westminster. closures in the U.S. The 1,725-location home-improvement chain’s big-box outlet in New Westminster’s Queensborough district will have 117,000 square feet of indoor retail space with another 31,000 square feet dedicated to an outdoor garden centre. The building and its 550 parking spots sit on a 13-acre footprint.

Lowe’s, which is the world’s second-largest home-improvement retailer, announced October 17 that it would close 20 U.S. stores and lay off 1,950 of its 160,000 employees. The company added that it will slow expansion to a maximum of 15 new stores in 2012, down from a previously announced 30 new stores next year. “We believe that there’s plenty of room for good retailers in what is a good Canadian market,� said Ramona Paul, who is the manager of the chain’s Queensborough store.

Paul has hired 180 staff so far and may hire a handful more workers in the next few months.

Other large American retailers are looking to follow Lowe’s strategy of expanding north because the economy is comparatively more vibrant. Some chains to watch according to retail analysts include: Nordstrom Inc., Dick’s Sporting Goods, Kohl’s Corp. and J.C. Penny Co. Inc. Lowe’s spokeswoman Joanne Elson said her chain first opened a Canadian store in 2007 and expanded to Western Canada in 2010 with its first of what are now three Calgary locations. It opened outlets in Edmonton and Regina earlier this year. – Glen Korstrom/BIV Photo: Dominic Schaefer

HST haunts high#SJUJTI $PMVNCJB end builders

proposals have targeted the Kitimat site as a potential exit point for Canadian natural gas.

Shell spokesman Stephen Doolan said the company and its partners Korea Gas Corp., Mitsubishi Corp. and China National Petroleum Corp. were “now exploring the potential for an [LNG] export terminal on the site.�

Producers have been eager to tap into growing offshore demand for natural gas, which fetches more than triple the price in Asia than in North America.

The $5.6 billion Kitimat LNG project heralded by Apache Canada, EOG Canada and Encana has been approved for an export licence by federal regulators, setting it up to compete with or possibly partner with Shell, according to analysts.

Korea Gas, one of Shell’s key partners in the venture, is the world’s largest buyer of LNG. The state-run company has bought stakes in several Canadian shale gas fields, including a joint venture with Encana, acquiring supplies for South Korea.◆

INTERIOR OPPORTUNITIES

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KAMLOOPS Fully leased 10,784 sq/ft multi tenant building. Close to Thompson Rivers University, Wal-Mart, Home Deposit.

1.63 acre site. Asking $2,495,000

CACHE CREEK Former Wanderer Inn Restaurant.

5,000 sq/ft main oor. Upstairs living area with 7 bedrms. Excellent building.

Court order sale #45465. $349,000

David Peressini 250-374-1461 or 250-371-3022 Email: dperessini@shaw.ca

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Westwin Realty

OKANAGAN OPPORTUNITIES Acreages

Court Ordered Sales

Investment Properties

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Tim Down AACI, P. App, CAE, RI(BC) "Professionalism You Can Trust"

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Cell: 250-864-9140 Toll: 1-800-367-3339 tim@timdown.ca www.timdown.ca RE/MAX Kelowna Westside

B8 Northern British Columbia

Garden Center F OR

SAL E

3 heated greenhouses, retail store, 2bdrm home located 1/2 block from ocean.

This is the only garden center in Prince Rupert, BC. Over 25 years in business.

$399,000.00 Land & Buildings

Please call JEANETTE for more info & photos 250-847-9022

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â&#x20AC;&#x201D; Your PRINCE GEORGE Commercial Professionals â&#x20AC;&#x201D; 4350 Handlen Rd â&#x20AC;&#x201C; â&#x20AC;&#x2DC;Court Ordered Saleâ&#x20AC;&#x2122; 5,525 sq ft concrete block building on .99 Acres. Zoned C-6.

Lot #1 Atwood Rd.

ED REDUC

LAND FOR SALE â&#x20AC;&#x201C; Proposed new subdivision.

17 â&#x20AC;&#x201C; 4 Acre+ high quality rural residential lots. 78.8 Acres total. Within 14km of the Westgate Shopping Plaza.

1440 â&#x20AC;&#x201C; 2nd Ave.

9080 Penn Rd.

Extremely well maintained quality 5,386 sq ft OFFICE building. Vacant possession June 2012.

FOR LEASE â&#x20AC;&#x201C; 25,660 sq ft quality warehouse located in the Danson Industrial Park.

5083 & 5111 Domano Blvd.

1108 Boundary Rd. FOR SALE & LEASE - 9,000 sq ft cement block building on 2 Acres, fenced compound. Building has been renovated & updated. Land has been graded for proper drainage. 3-phase power.

FOR LEASE â&#x20AC;&#x201C; Prime College Heights RETAIL/OFFICE space. Visually desirable location. Net Lease.

9368 Milwaukee Way

â&#x20AC;&#x153;Bee-Lazee RV Park & Campgroundâ&#x20AC;?

FOR SALE - 31,640 sq ft major fabricating/ manufacturing facility (28â&#x20AC;&#x2122; ceilings). Located on 3.74 Acres, fenced yard, cranes, quality ofďŹ ces.

9543 & 9565 Anzac Cres.

FOR SALE - 1.88 Acres. Zoned M-2.

Industrial lots, cleared, level & serviced.

A 49 pad campground, plenty of room for expansion & a modern 2,000 sq ft bungalow on 77 Acres. Âź mile of frontage on Highway 97 South.

1437 North Fraser Dr. â&#x20AC;&#x201C; Quesnel FOR SALE â&#x20AC;&#x201C; Court Ordered Sale 38.5 Acre property. 604 sq ft stand alone ofďŹ ce.

Main 3,498 sq ft concrete block 4 bay truck shop, with 1,628 sq ft addition attached. A 2,160 sq ft storage building with a 648 sq ft wood frame storage shelter. A sand/gravel business historically operated from this site, however no licensing permits have been conďŹ rmed.

1550 â&#x20AC;&#x201C; 1st Ave.

1921 Upland St.

ONE OF A KIND OPPORTUNITY. 3 concrete block warehouse on 3 Acres.

44,080 sq ft total space. Well maintained with 11 loading doors, 13 O/H doors, 3 phase power & highway access.

FOR SALE â&#x20AC;&#x201C; Exceptional 12 unit apartment building. Good location, well maintained property. 8% Cap Rate.

508 George St.

Unit #C â&#x20AC;&#x201C; 3131 Westwood Dr.

8,200 sq ft fully equipped 250 seat restaurant. Previously â&#x20AC;&#x2DC;Tony Romaâ&#x20AC;&#x2122;s â&#x20AC;&#x2DC; franchise. Completely renovated & equipped.

FOR LEASE â&#x20AC;&#x201C; 1,200 sq ft high visibility location in Westgate strip-mall. Net-Lease.

www.pgcommercial.ca RE/MAX Centre City Realty Each ofďŹ ce is independently owned and operated

GEORGE Weinand

250-960-9556

KEN Goss

250-565-7653

THINK REAL ESTATE...The Best Investment on Earth

B9

WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com

Cash-flow property, with upside potential, is smart buy for aging boomers seeking security

3FOUBMT GPS SFUJSFNFOU 3

ecently I had a milestone birthday that changed my life.

I am not retired, and now well into middle age asking myself, â&#x20AC;&#x153;What am I doing all this for?â&#x20AC;? Most boomers are likely asking this question, feeling trapped, tired of the path they are on and worried about having enough money for retirement. Most of us can expect the gift of an additional 30 years of life, so what do we do with this gift?

3&5*3&.&/5 */7&45*/( MURRAY WOOD

Those in their mid-50s or early 60s may be experiencing doubts about having enough income to retire or perhaps worried about outliving their money. They may still want to work, or have to, but realize they do not have enough time left to build up a retirement fund by going to work each day.

More than three-quarters of British Columbians plan to continue working in retirement, a new poll shows. Eighty per cent of B.C. residents said they plan to start their own business, continue to work full time, become a consultant or take on part-time hours, according to the CIBC poll conducted

by Harris/Decima.

From a financial-planning perspective, itâ&#x20AC;&#x2122;s important to have the plan provide the income you need for the retirement income you want.

After 35 years of real estate investing through good times and recessions I believe that cashflow residential property, with an upside potential, is the steady course for long-term income.

But is it the right thing for a 60-year-old to be

undertaking? If you live an additional 30 years, is a real estate investment that matures in seven to 10 years worth looking at?

Investment real estate and its leverage aspects may be the answer. What follows is a very simple approach to building a property portfolio that is a cash-flow investment plan, not a speculative play.

6TJOH MFWFSBHF

Each investor has his or her personal risk level. This fact, combined with their specific real estate goals, will direct an investor in his or her decision regarding how much leverage he or she will use within his or her portfolio. With leveraged real estate, an investor must find a balance between reducing the down payment and reducing the positive cash flow.

Thanks to the overall long-term stability of Canadian residential real estate investments, banks and other financial institutions are willing to provide you with relatively inexpensive financing secured against your investment property. This leverage can dramatically increase your return on investment (ROI) but, as with any investment, the higher you try to push your ROI the higher the risk.

The example shown (see sidebar) is for one property for one year. The Canadian average appreciation is 5 per cent; this example used 3 per cent. What if you found better cash flow and appreciation? What if you had more than one property? What if you sold one and paid down the others in 10 years? How would that

3FOUBM JOWFTUNFOU FYBNQMF Property Down payment Time Rental income 3% appreciation on property Mortgage reduction ROI on appreciation alone ROI on appreciation, mortgage reduction and cash flow

$140,000 (one-bedroom rental condo in Ladysmith) $30,350 20% plus closing costs One year $750 ($180 positive cash flow/month) $4,200 annually $2,424 annually 13.8% ($4,200/$30,350 x 100) 28.9% ($8,784/$30,350 x 100)

affect your cash flow? er, they take a huge amount of searching and The answer to all these questions is educa- many false starts. Remember that we are talktion first, and then action. ing about a passive investment approach to real estate investing so you can spend your time 'PVS TUFQT doing what you want while your portfolio is Do a financial mortgage review of your current building you cash flow and equity. Your system should give you the blueprint to present your and future portfolio.

1. Educate yourself in real estate invest- deal to financiers and joint-venture partners alike, time after time. ment; 2. Review your goals and discover what is 3FWJFX HPBMT important to a middle-age you.

Take a breath or a weekend and think about 3. Take action 4. Have a mortgage plan for your portfolio. where you are now and want to go in the next First, meet with a mortgage broker who phase of life. This would include both a personunderstands real estate investing and have him al and financial reflection. Make some simple or her help you develop not just a plan, but your notes so you can review them and see if they plan, including: still seem important in a few days. Take a real â&#x20AC;˘ defining your end goal, and how much real open look at this new age and embrace it.

We want to continue living to our highest estate you need to achieve it; â&#x20AC;˘ determining the kinds of investments that potential. We want to be valued, to experience well-being, happiness and love, to be fully selfare right for you; â&#x20AC;˘ identifying obstacles to your success, and expressed in the last third of our lives. We still have a lot to contribute. overcoming them; and â&#x20AC;˘ discovering financial options and solutions, We need to transform the culture of aging including recent market and regulatory changes from one of loss, disappointment and decline to that affect investors. one of possibility, power and purpose. We need Next, develop or find a system to reduce the to shift the way we look at aging.

I like the statement from a favoured book, risk, increase the positive cash flow and find properties in both hot and cold markets. This The Elder, by Marc Cooper and James system should show you when and how to buy Selman: â&#x20AC;&#x153;Make the rest of your life be the best for maximum profits â&#x20AC;&#x201C; location is important, of your life.â&#x20AC;?â&#x2014;&#x2020; but timing is everything. Successful real estate investors know when to buy and when to sell. Murray Wood, president of BuyHomesBC.ca, It takes money to buy real estate. One hears spent six years as a qualified financial plana lot of talk about â&#x20AC;&#x153;no money downâ&#x20AC;? deals but ner and has developed recreational real estate someone has to put the money down. There during his 35-career. He now focuses on helphave been books written that contain very ing middle-age people build simple real estate interesting strategies for these deals; howev- revenue portfolios. murray@buyhomesbc.ca

/PSUIFSO #SJUJTI $PMVNCJB Prince George

6>G8G6;I =6C<6G ;68>A>IN

For Sale or Lease

EG>C8: <:DG<:! 78

;DG H6A: DG A:6H: Looking to invest in BCâ&#x20AC;&#x2122;s Northern capital?

This beautiful 388acre parcel of land is located in the middle of executive high-end homes, only 10 mins from City Centre. Possibility of subdivision. Reduced from $1,100,000 to $999,900 MLSÂŽ N213581

s .EWLY CONSTRUCTED AT THE 0RINCE 'EORGE )NTERNATIONAL !IRPORT s ,OCATED ADJACENT TO THE MAIN TERMINAL s !VAILABLE FOR OCCUPANCY *ANUARY s 3UITS BOTH AVIATION AND COMMERCIAL OFl CE APPLICATIONS s SQ FT OFl CE MAINTENANCE SPACE ON TWO m OORS s (ANDICAPPED ACCESSIBLE COMPLETE WITH ELEVATOR s SQ FT HANGAR SPACE s (ANGAR DOORS ARE WIDE BY IN HEIGHT s (ANGAR IS EQUIPPED WITH A FOAM l RE SUPPRESSION SYSTEM s )N SLAB m OOR HEATING THROUGHOUT THE HANGAR SPACE s 2EMOVABLE PARTITION WALL CREATES TWO SEPARATE HANGAR BAYS s !MPLE PAVED PARKING WITH ADJACENT GRAVELLED PARKING AREA For sales or leasing inquiries please contact:

<:DG<: B6GI>C Tel: '*%".+%"'''* Fax: '*%".+%"''*&

$575,000

downtown - close to proposed wood innovation & design centre 9630 sq ft on 3 levels; separate entrances, electrical & heating systems ideal for retail, design & professional offices

2 waterfront development properties on desirable Cluculz Lake 26 acres, 2 titles $295,000 approx 1450â&#x20AC;&#x2122; of lakefront, easy access 55 acres, 3 titles $495,000 approx 1650â&#x20AC;&#x2122; of lakefront, hwy access

Rob Engen 250-552-4121 Elisha Flynn 250-981-9898 engen-rob@hotmail.com elishaďŹ&#x201A;ynn@gmail.com

Elaine Kienzle

RE/MAX Centre City

250

Each ofďŹ ce is independently owned and operated

563-8769

www.elainekienzle.com

1-800-667-7330

NORTHEAST BC REALTY Ltd. Phone 250 785 4115

â&#x20AC;&#x153;Investing Our Energy In The Northâ&#x20AC;?

Located at 10220 101 Avenue Fort St John BC V1J 2B5 www.NEBCRealty.com

F: 250 785 4120

RON RODGERS - OWNER / MANAGING BROKER Email: ron@northeastbc.com FOR SALE i 73.5â&#x20AC;&#x2122;x122â&#x20AC;&#x2122; commercial lot - 10019 103 Ave Fort St John Asking $134,900 MLSÂŽ N4505054 i 10.78 Acres plus four newly renovated houses at Mile 101 Asking $395,000 MLSÂŽ N4504487 i 146.6â&#x20AC;&#x2122; x x150â&#x20AC;&#x2122; multi-family lot - 9608 97 Ave Fort St John Asking $449,000 MLSÂŽ N4504895 i 83â&#x20AC;&#x2122;x120â&#x20AC;&#x2122; Highway Commercial lot - 808 121 Ave Dawson Creek Asking $468,000 MLSÂŽ N132643 i 4.74 Acres plus trailer home & shop - 6419 Airport Road FSJ Asking $695,000 MLSÂŽ N4504930 i Over 7600sf light industrial shop on 1.05 Acres FSJ Asking $1.28 Millions MLSÂŽ N4504981 i 36.36 Acre DEVELOPMENT PROPERTY close to new FSJ hospital Asking $1.45 Million MLSÂŽ V4022639 i 3.01 Acres HIGHWAY Commercial Property - FSJ Asking $1.68 Million MLSÂŽ N4504968 i 39,000+sf Industrial INVESTMENT property on 3.73 acres lot long term lease in place. Asking $2.88 Million MLSÂŽ N4504999

FOR LEASE i 2,810 sf office space along highway frontage - 11419 Alaska Rd FSJ Asking $19.00sf + triple net ($4449/month) MLSÂŽ N4504877 i 5,000sf office/shop/warehouse on 2.7 Acre lot @ Mile 54 on Alaska Highway Asking $16.00sf + triple net MLSÂŽ N4504884 i 5,000sf industrial shop/office on .599 acre lot 109 Street FSJ Asking $14.75sf + triple net ($6145/month) MLSÂŽ N4505084 FOR MORE INFORMATION OR TO ARRANGE VIEWING - PLEASE CALL RON

Holiday Message from NorthEast BC Realty Wishing you a very Merry Christmas and Happy New Year NEBC would like to take this chance to thank all who we worked with over the past year. We look forward to 2012 and wish you all a safe and happy holiday.

From Ron and Theresa Rodgers

B10 Northern British Columbia

www.westerninvestor.com DECEMBER 2011WESTERN INVESTOR

DAWSON

FORT ST. JOHN, BC INVESTMENTS 235 ACRES DEVELOPMENT LAND

CREEK

www.dawsoncreekrealestate.ca

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

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

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

Brand new Investment Units under construction with corporate tenants available starting @ $730,000 Potential rent at $78,000 Building lots available in a brand new subdivision.

Single family and duplex lots starting @ $104,900

Can be sold in smaller parcels. Great highway exposure. Bordering city with flexible zoning options from Commercial/Industrial to Multi-Residential and more.

KEVIN PEARSON 1-250-787-6737 kevin@kevinpearson.ca

ENERGY REALTY

#132673 - In the centre of the City close to the traffic circle on Alaska Highway...1.55 acres of flat land with all new services to the property and bordered by 8th street and the paved roadway to the new apartment building. Excellent location, commercially zoned, will builld to suit. $290,000 #129953 - RETAIL BUILDING Great location on 10th St over 3,000 sq ft on main and additional 3,000 sq ft on second floor, located next to Scotia Bank. Ground floor now leased out to only video rental company in Dawson Creek. Asking price of $375,000

#130083 - Prime location on Alaska Ave. in Dawson Creek - close to all retail and downtown and still on main artery through the City. Total of 17,000 sq. ft. of new space and can be divided into whatever you need.

Popular new restaurant now open, lots of parking.

FORT. ST. JOHN LOCATION, LOCATION!

A RARE FIND! 10433 - 269 Rd

10123 - 100th Street A prime downtown location, right on 100th Street, just under 2500 square feet divided into 2 separate retail spaces, both sides currently leased $299,900

MLS# N4504949

7000 sf building offers 1000 sf of office/reception & 6000 sf of shop space ,4-16’ O/H doors & 1-14’ O/H door, 17’ ceiling, 200 amp service, just under 1 acre of land. $869,000 - MLS# N4504751

OPPORTUNITY KNOCKING!

SHOP IN CITY LIMITS! 10215 - Beaver Rd 2835 square ft shop is heated & insulated, 2 - 12 foot doors. Only a few blocks to Alaska Highway, NO city services. C3 zoning, 0.894 of an acre

8224 - 93rd Street 1050 sq ft of offi ce w/ hardwood fl oors. Front reception & display area & the shop with 3 bays, 1 is drive through/wash bay. Radiant heat, mezzanine area, 14’ overhead doors.

Fenced compound all on city services.

$215,000 - MLS# N4504755

INVESTMENT GEM!

4717 - 51 St., Chetwynd

$1,200,000 - MLS# N4504915

#131876,

130050,

131875

-

HIGHWAY

COMMERCIAL/INDUSTRIAL LAND Situated across from the EnCana event centre, Chances casino and new Holiday Inn this is a very desirable location. Total of three lots each approx 4.5 acres each, excellent visibility and access. Priced at $450,000 - $500,000 each

$879,000 - MLS# N4504836

PROSPECT PARK LOCATION 10711 - 91ST AVENUE

Fully occupied w/consisted ROI to the owner. Contains established businesses & a fully furnished 2 bdrm apart.

Torch on roof in 1999 & new fire system in Jan. 2011.

FOR LEASE 3200 SQ FT SHOP with an additional 1680 sq ft of office are on upper floor. 2 doors 12x14 into 40x40 shop. Zoned M2 (light industrial) on .23 of an acre. Asking $16.00/sq ft.

Updated offi ce space, new windows, doors and updated forced air furnace. 1100 sq. ft. of offi ce space attached to 3250 sq. ft. of shop. + 6500 sq. ft. of additional shop space available. $15.00/sq ft + NNN -

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 $16.00 per sq ft to lease.

MLS# N4505100 PERSONAL REAL ESTATE CORPORATION

Remax Action Realty 1991 Inc.

250-785-5520 Toll Free : 1-888-785-5520

The Power Of Partnership!

Subscribe OVER $2.5 BILLION WORTH OF INVESTMENT OPPORTUNITIES EVERY MONTH FIRST CLASS DELIVERY ❏ One Year .............$42 ❏ Two years ............$75 ❏ Three years .......$105

Address

❏ Visa ❏ American Express ❏ MasterCard ❏ Cheque enclosed

GST Registration No. 10565567 GST Included

#130010 - WELDING / MACHINE SHOP for sale Includes 12’ door, 13’ ceilings, 3 phase power, 23o Volt/400 amp service. Gravel yard, 100 sq. ft. offi ce with shower & bathroom. Fire hydrant, 2 overhead cranes. $220,000 #129257: THE SOUTH PEACE UNITED CHURCH IS FOR SALE. OVER 11,000 SQ. FT. - Sanctuary, hall, kitchen, offi ces, and support services. Excellent corner location, zoned commercial, very good condition, ready for an offi ce or residential conversion. $495,000

#133128: 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.

Strip mall is 10,000 sq. ft. and is also for sale.

L A N D #129635: RESIDENTIAL DEVELOPMENT LANDS, one parcel of 25 acres on the north west edge of Dawson Creek for sale, superb location for residential homes, the timing is right as we need more residential lots for our busy market place. Asking $625,000

Title Company

Bill my:

#129593: 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.

#129877: 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

Name

#130029 RETAIL STOREFRONT on 102nd Ave. for sale, 3500 sq. ft on a corner location, paved parking, good visibility can be used for offi ce, retail, or your own small business. Owner will consider leasing as well.

Reduced to $119,000 as is

#133401 - BUSINESS OPPORTUNITY located on the east side of Dawson Creek. Belsum Auto Recyclers Ltd has a proven track record and shows a good return. Includes 6.5 acres of prime industrial land on Hwy #49, a heated main shop with 3200 sq.ft. and an adjoining 2400 sq. ft. building used for stripping vehicles. Lots of inventory, and equipment includes 3 forklifts and a skid steer. Asking $1,200,000 for the land, buildings, and turnkey business with inventory.

KATHY MILLERCURTIS ROBINSON

kathy@bugkathymiller.com curtis@remaxaction.ca

#129952 - FOR SALE OR LEASE Multi purpose building with 2 units now leased leaving 11,000 sq ft. available. Upgrades include updated roof and furnaces Asking price is just $397,000

#127836: 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

WILL BUILD TO SUIT - AIRPORT ONE ACRE LOTS Developer has 3 one acre lots in a row at the airport with highway frontage...will build a 5000 - 7,000 sq, ft. pre-engineered steel shop, provide a graveled and fenced yard with a 5 year lease starting at $ 14.00 per sq. ft. for the shell. Also willing to build and sell to tenant. One lot now leased and sold. Only 2 left! #127066: LOCATION, LOCATION, LOCATION 0.74 acres at the intersection of 17 Street and Alaska Highway. Ideal location for strip mall, service station, etc. $295,000 #127441: 80 ACRES OF INDUSTRIAL LAND with highway frontage, railway tracks, water and sewer in the City of Dawson Creek. Asking $31,250 per acre

City Prov Postal code Phone

Fax E-mail

1-800-661-6988

Credit Card No. Expiry Signature

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

www.westerninvestor.com $42 could make you millions!

Alberta B11

WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com

nd Peace a y o J or Season! f s e h Best Wis liday This Ho

INVESTMENTS SALES PERFORMANCE SOLD

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INVESTMENT TEAM CALGARY EDMONTON

403-290-0178 780-463-3332

COMMERCIAL REAL ESTATE

SOLUTIONS

INDUSTRIAL PROPERTY

!VENUE 3% s #ALGARY !"

%ARL !DELMAN !SSOCIATE 'REG !LBRIGHT !SSOCIATE +ELLY #ARVER !SSOCIATE "ROKER $OUG 'RINDE !SSOCIATE 'EORGE ,ARSON !SSOCIATE

2ICHARD ,EWIS !SSOCIATE *EFF 2OBSON !SSOCIATE "ROKER 2YAN 3WELIN !SSOCIATE $AVID 7ALLACH "ROKER

Office, Retail, Industrial

Land, Investment

SALES AND LEASING

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B12 Recreational Real Estate HOT PROPERTIES

www.westerninvestor.com DECEMBER 2011WESTERN INVESTOR

RECREATION FEATURE Cash-strapped resort developer has until December 11 to secure refinancing

"WJBXFTU XJOT DSFEJU FYUFOTJPO CARLA WILSON WESTERN INVESTOR he Vancouver Island-based Aviawest Group has won creditor protection to December 11 as it tries to finance its cash-strapped companies, which includes its flagship Parkside Resort and Spa in Victoria.

The extension was granted early in November in the Supreme Court of B.C. in Vancouver, said court-appointed monitor Mark Wentzell of Grant Thornton Ltd. That protection had initially been granted October 24 on an interim basis.

“During this time, the company will work on a restructuring plan,” Jim Pearson, Aviawest CEO, said in a statement. The creditor protection process “is in the best interests of all stakeholders, and we are pleased the courts granted us an extension of the order. Although the circumstances are challenging, we look forward to working with our creditors to achieve the best possible outcome.

“Over the past two weeks, we have had positive responses from potential restructuring partners. We will work hard over the next five weeks to take these relationships to the next level.”

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Total liabilities for the group of companies are $99.468 million, Grant Thornton said in a report to court. Of that, $70.5 million is owed to secured creditors and $27.57 million to unsecured creditors.

Debt mounted as the company built and launched Parkside, leading to Aviawest’s

Photo: Aviawest Group

5

Victoria’s $60 million Parkside Resort and Spa is among Aviawest’s troubled assets.

insolvency, Pearson said in a court document.

The $60 million development opened in 2009.

Its 126 units are either wholly owned or under fractional ownership.

Aviawest earlier developed the Pa c ific Shore s Resort and Spa at Craig Bay near Parksville.

It opened in the early 1990s, one of the first fractional-ownership projects on Vancouver Island.

The Aviawest group of companies includes a multi-destination real estate vacation club with several thousand members and a resortmanagement arm, the company’s chief financial officer said in a court document.

The group has also developed or bought

other resort properties, such as the Rosewood Victoria Inn in Victoria, the ski-in Pinnacle Lodge at Sun Peaks, 10 units at the Water’s Edge Resort at Ucluelet and 41 luxury suits called Aviawest in Vancouver at the Rosedale on Robson Suite Hotel.

“Total unsold inventory held valued at $80.1 million”

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A report from the monitor states that total unsold inventory held by Aviawest is valued at $80.1 million.

That breaks down to $63.53 million in Parkside, which has a total residential value of $51.8 million for whole and fractional ownership units. Another $11.6 million is in commer-

cial inventory.

Pacific Shores unsold inventory is valued at $16.59 million. Its residential value is pegged at $7.9 million in whole and fractional ownership.

There is $7.1 million in commercial inventory and $1.5 million in land, the report said.

The largest individual creditor is BC Investment Management Corp. (BCIMC), which is owed approximately $48 million under two loans, secured by mortgages, said a court document.

Another document filed in court contains a list of 108 individuals or couples, many retired, who have invested in Aviawest’s projects or companies and are owed various amounts.

Several state that they are retired and invested retirement funds. One Alberta woman wrote that the $101,575 she invested represents half her retirement savings.

Secured creditor Fisgard Capital Corp. has offered to lend up to $2.5 million under two accounts, one for Parkside and one for Pacific Shores, the company said in a report filed in court, if creditor protection was continued.

Fisgard has said in an affidavit that it is owed $8.7 million.

BCIMC has requested that Aviawest be placed into receivership. No plan has been put in place by Aviawest other than “perhaps more of the same, which clearly has not worked,” BCIMC said in documents.

BCIMC is one of Canada’s largest institutional fund managers. Clients include publicsector pension plans, public bodies and publicly administered trust funds. It was set up by the province under the Public Sector Pensions Plans Act in 1999.◆ – With Times Colonist files

NELSON, BC CANADA .EW #USTOM "UNGALOWS

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LAURA SALMON REALTOR

250-551-8877 UÊÓ£xäÊEÊÓÓÈäÊõÊvÌÊ > Ê Àà UÊ7> Ê ÕÌÊ >Ãi i ÌÊÜ Ì Ê yÊ ÀÊ i>Ì } UÊ >À`Ü `]Ê À> Ìi]Ê/ i UÊ-Ì> iÃÃÊ-Ìii Ê «« > Vià UÊ ¿ÊEÊ£ä¿Ê i }à UÊ À}i ÕÃÊxÊ« iViÊ ÃÕ Ìià UÊ Ài>Ì Ì> }Ê > iÊ6 iÜà UÊ >Ì > Ê iÜÊ iÊ7>ÀÀ> ÌÞ UÊ$895,777Ê V Õ`iÃÊ iÌÊ -/

www.LauraSalmon.com Laura@LauraSalmon.com RHC Realty 601 Baker St., Nelson Each office is independently owned and operated.

WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com

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RURAL PARADISE HAGENSBORG (BELLA COOLA), BC

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KOKANEE LAKESIDE RESORT

KOOTENAY LAKE WATERFRONT ESTATE

GRAPEVINE PUB & BISTRO BURNS LAKE - NORTHERN BC

TULANI RANCH BTWN BURNS LAKE & HOUSTON, BC

NORWOOD RANCH COURTENAY

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RUSTIC CEDAR HOME NESTLED ON 1 ACRE - HAGENSBORG, BC

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$ENIS $ORE DENIS LANDQUEST COM

$ENIS $ORE DENIS LANDQUEST COM

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SHUSWAP LAKE DEVELOPMENT LANDS

PITT MEADOWS EQUESTRIAN RANCH

150 MILE HOUSE RANCHER ON PRIVATE ACREAGE

RENTAL INVESTMENT VAVENBY

DEVELOPMENT ACREAGE PRINCETON, BC

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3AM (ODSON SAM LANDQUEST COM

BOAT HARBOUR MARINA NEAR NANAIMO, BC

HISTORIC JURA STOCK RANCH PRINCETON, BC

THE NEW 108 RESORT CARIBOO REGION OF BC

67 ACRES WATERFRONT RETREAT

UÊÊx£Ê>VÀiÊ`ii`i`ÊÜ>ÌiÀÊ ÌÊ >À > UÊÊ9 ÕÊ Ü ÊÌ iÊÜ>ÌiÀÊ ÌÊ Ê ÌÊ>Ê Àià ÀiÊ i>Ãi UÊÊ ÕÀÀi ÌÊ «iÀ>Ì Ê vÊ£ÈäÊà «Ê >À >ÊEÊÀ Êv ÀÊà } v V> ÌÊiÝ«> à UÊÊ-i Ê«Ài«> `Ê i>ÃiÃÊ Êà «Ã UÊÊ L i`ÊÜ Ì ÊÓxäÊ>VÀiÃÊ vÊ`iÛi « i ÌÊ > `ÊÓäÊ ÕÌiÃÊÊ vÀ Ê Ü Ì Ü Ê > > ÊÊ UÊ ÀÃÌÊÌ iÊ«ÕL VÊ vviÀ }Ê$11 MillionÊ

UÊ >â }ÊÓ]ÈääÊ>VÀiÊÀ> V UÊ L ÛiÊ- > ii Ê, ÛiÀÊÜÉÊ> >â }ÊÛ iÜà UÊ Èä]äääÊ>VÀiÊ}À>â }Ê i>Ãi]Ê >ÌÕÀ> Ê > ià UÊ Àii ÊvÀ Ì>}iÊEÊÀ } ÌÃÊ Ê Ã Ê Àii UÊ £ÓäÊ>VÀiÃÊ vÊ ÀÀ }>Ìi`Êv i `à UÊ " ÞÊΰxÊ ÀÃÊÌ Ê6> °ÊEÊ Ê ÊÌ Ê*À ViÌ UÊ $3,950,000 Ê 3AM (ODSON

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$OUG $YER DOUG LANDQUEST COM

*ASON :ROBACK JASON LANDQUEST COM *AMIE :ROBACK JAMIE LANDQUEST COM

SAM LANDQUEST COM

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+ONRAD - 3CHMID -EIL KONRAD LANDQUEST COM

+ONRAD - 3CHMID -EIL KONRAD LANDQUEST COM

B14 Recreational Real Estate HOT PROPERTIES/Alberta

DECEMBER 2011 WESTERN INVESTOR

Far from the Madding Crowd - Exquisite property features the best of the West Coast - Water Front -1.84 acres of high water front - Custom designed house infused with southern light - Spectacular views of the Gulf Islands - Live year round or have a weekend retreat and haven - MLS® F1118274 $1,075,000

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

Virtual tour at www.annabelyoung.com Office: 604-888-0786 Email: annabelyoung@shaw.ca

ANNABEL YOUNG Cell: 604-961-7541

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PRIME RETAIL SPACE FOR LEASE 800 - 10,000 sq. ft.

CONDITIONALLY SOLD • CANMORE DEV. • 20 Unit townhouse project • 50% complete, at "Lock Up" stage • Asking $6,200,000 GREAT RETAIL SPACE FOR LEASE Centre 89, Calgary, AB • Up to 13,000 sf • Going home side of Macleod Trail Tim Anderson Tel: (403) 291-8866 tanderson@naicalgary.com timjn_anderson@yahoo.ca

HOTEL - FULL SERVICE SOUTHEASTERN ALBERTA • N.O.I. in excess of $725,000 • Full Service Including Conference / Wedding facilities • Well Flagged • 42 rooms with room and plans for expansion • Two lounges • High VLT count • Net Rental income as well • Priced to Sell!

5 MOTELS PRICED UNDER $700,000 • Located in various southern Alberta towns • Great returns for an on-site operator • Have your own business for a little more than the cost of an average home in Calgary.

Jim Balfour Tel: (403) 291-8860 jbalfour@naicalgary.com

Tim Anderson Tel: (403) 291-8866 tanderson@naicalgary.com timjn_anderson@yahoo.ca

LAND FOR SALE • 2 Acre Multi residential Site - Calgary Region • 2.53 acre industrial zoned land in west Calgary Shane Olin Tel: (403) 708-9086 solin@naicalgary.com

Gene Sarmaga (403) 826-5636 gsarmaga@naicalgary.com

Bower Plaza, Red Deer, Alberta

CONDITIONALLY SOLD 154 Bowness Centre NW, Calgary, AB • 16,200 sf retail building • $1,800,000 ($111 psf) • +/- 1 acre of land CONDITIONALLY SOLD 4110 - 79 Street NW, Calgary, AB • 10,250 sf • Office Building Shane Olin Tel: (403) 708-9086 solin@naicalgary.com

Westmount, Okotoks, Alberta

Gene Sarmaga (403) 826-5636 gsarmaga@naicalgary.com

SOLD Bower Plaza Red Deer, AB 50,000 sq. ft.

Prime Retail Shopping Centre Shane Olin Tel: (403) 708-9086 solin@naicalgary.com

4337 Macleod Trail S, Calgary, Alberta Shane Olin Tel: (403) 708-9086 solin@naicalgary.com

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 375 OFFICES WORDLWIDE.

Alberta B15

WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com

NNN INVESTMENT OPPORTUNITY !!!

WANTED!

ARIZONA INDUSTRIAL PORTFOLIO 4 Industrial Properties Offered at: $5,000,000 GILBERT, AZ

PHOENIX, AZ

I am working with a well qualified & ready buyer to purchase an operating park in B.C., ALBERTA or SASK. Price up to $3 million! Realtors Welcome!

Income: $70,200 Property Size: ±48,516 SF Additional ±33,000 SF available Building Size: ±5,015 SF Lease Expiration: February 2015

Income: $123,575 Property Size: ±65,000 SF Building Size: ±8,150 SF Lease Expiration: June 2018

*Leased by Fortune 500 Company!

*Leased by Fortune 500 Company!

CASA GRANDE, AZ

GILBERT, AZ

NICK SLEZINSKI 403 540-8058 ALBERTA IS AGAIN MOVING! MOTELS & HOTELS

LAND PARCEL Income: $78,000 Property Size: ±1.978 acres Building Size: ±11,894SF Lease Expiration: January 2013

Lot Size: ±31,186 SF Zoning: Regional commercial Outside storage capabilities Adjacent to Gilbert property

*Leased by Local Organization!

(602) 882 - 0345

COMMERCIAL (RE/MAX Excellence)

jboyd47@cox.net

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

BUSINESS ONLY zRV & Truck Wash - South Edmonton. Business Only - PENDING zIndian Restaurant - South Edm. Prime Location - PENDING

CALL AYAZ OR SAM AT 780.641.1320 zBottle Depot Businesses - 3 Locations in AB. Call For Info BOTTLE DEPOT BUYING & ORIENTATION - BOOK NOW! ***CERTAIN CONDITIONS APPLY***

CALL RAJAN NULLIAH 780.441.5419 zCosmetic Store - Located in a busy mall w/ high foot traffic.

Operating for over 16 years. - $179,900 + Inventory

≥ FULL SERVICES 63 Unit Motel with Rest., Pub,

≥ PROVOST Brand new 44 unit motel.

Asking $4.5M ≥ CAMROSE 20 unit motel, (nice Ma & Pa ≥ ≥ ≥

Liquor Store. Shows excellent Rev. Ask $7.7M

operation) upgraded and very clean, Asking $1.1M. HARDISTY New 44 unit Motel.

NAMPA, ALBERTA in busy boom town, 16 unit motel, 100 seat lounge, VLTs, liquor store and restaurant. PRICE REDUCED TO $990,000!

CAMROSE ALBERTA 68 room, full services Hotel.

REDUCED - NOW $4.0M.

For additional information contact:

JIM BOYD

franick@telus.net

ReMAX FIRST CALGARY, AB.

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

OTHER INVESTMENTS

≥ DAYSLAND Convenience store and Gas Bar., ≥

Mechanical shop, all located on a 1.5 acre parcel with residence. Shows good revenue. Asking $375,000.

CAMROSE, AB 2 Side by Side, newer 4 plexes.

Fully leased. Asking $560,000 each

SOLD

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

Edmonton’s Business & Investment Specialists

zSupreme Plating Business - w/property and inventory. 1.11 acres of prime property located in North Edmonton - $3.5M

CALL GREG STEELE AT 780.945.7800

MULTI-FAMILY z8 Units - RET/MF Mix Commercial Bldg DT Ft. Sask - $1.3M z15 Units - West Edmonton - $100,000/Door z18 Units - Two building package. Strathcona - $130,000/Door z20+ Units - Strathcona Fully Rented - $125,000/Door zSenior Development - Ready to build. Downtown - Call For Info

CALL MIKI O’REE AT 780.200.6454

CALL NEIL HORVATH 780.908.5630

INDUSTRIAL

INVESTMENT

zLand/Bldg For Sale - Spruce Gr. 5500SF on 0.7 acres REDUCED PRICE - $799,000

z61000 SF+ Whse & Of - 14135 128 Av. Priced to sell! - $5.8M zOffice/Medical Centre - Leduc. Fully leased. 8.2% CAP - $1.7M zNisku Multi-Tenant Bldg - Room for upside. VTB Avail. - $1.79M zGeneral Store w/Property - Outside Edm. Over $1M revenue.

2000 SF bldg on 0.345 acres. Excellent opportunity! - $595,000 zRV Storage & Service - 8.87 ac w/7,362 SF buildings - $1.095M

CALL AYAZ OR SAM AT 780.641.1320 zAuto Wash w/Land & Bldgs - Prime location in NE Edm - $3.5M zSylvan Lake - Choice of 3 Est Motels. Beach facing & close to Marina. Priced at $1.7M, $2.2M and $2.635M

CALL RAJAN NULLIAH AT 780.441.5419 zGas Station, Grocery/Convenience & Liquor Store - Over $2M in sales.Land, Bldg and Business Included - $1.3M

CALL NEIL HORVATH 780.908.5630

CALL ALLY PIRMOHAMED AT 780.604.0302

LAND z Nisku Commercial Land - 5 Lots. Zoned CS - $375,000/Acre z Sturgeon County - 240 Acres (2 Parcels) - $15,900/Acre

CALL AYAZ OR SAM AT 780.641.1320

LEASING z Leduc Plaza - 1100 SF units available immed. Only 5 units left! www.LeducPlaza.com

CALL AYAZ OR SAM AT 780.641.1320 z 2000 SF Retail - Corner lot w/parking. Downtown Fort Sask. $13.20/SF plus OP Costs

CALL MIKI O’REE AT 780.200.6454

w w w.RemaxComm.ca

B16 Alberta

www.westerninvestor.com DECEMBER 2011WESTERN INVESTOR

INVESTMENT OPPORTUNITIES IN WINDSOR, ONTARIO

â&#x20AC;˘ 4000 sq ft Penthouse ofďŹ ce space - 17th Ave S.W. Calgary â&#x20AC;˘ 4900 sq ft Industrial / OfďŹ ce Condo N.E. Calgary - $595,000 â&#x20AC;˘ 1500 sq ft fully equipped restaurant space for lease, N.E. Calgary â&#x20AC;˘ RV Repair Business, Calgary - $650,000 â&#x20AC;˘ Retail OfďŹ ce - Downtown Calgary, 7550 sq ft - $3.75M â&#x20AC;˘ Calgary Neighbourhood Shopping Centre - $9.5M â&#x20AC;˘ Neighbourhood Shopping Centre - $4.2M â&#x20AC;˘ Retail Condos - Downtown Calgary. Up to 20,000 sq ft - $525/sq ft â&#x20AC;˘ 33 unit Apartment Condo - $3.465M â&#x20AC;˘ 28 unit Inner City Apartment - $4.0M â&#x20AC;˘ 98 Unit New Condo Development - $19M

APARTMENTS: 40 Unit Condo $2,100,000 50 Unit $2,250,000 46 Unit $1,590,000 29 Unit $915,000 35 Unit Condo $1,800,000 18 Unit $513,000 22 Unit $695,000

DUPLEXES: $113,900 $1,600 / mo $85,000 $1,250 / mo $136,900 $1,700 / mo TRIPLEXES: $144,900 $1,900 / mo $98,500 $1,500 / mo $114,900 $1,625 / mo

SINGLE FAMILY HOMES: Starting at $50,000 POWER OF SALES: Starting @ $30,000 Condos starting @ $30,000

Many more with great property management.

Billions in Windsor Economic Development.

Call for Listings & Economic News

Bus: (403) 240-4000 www.toolepeet.com

Email: Commercial@prutp.com to Receive Our Current Calgary Apartment Report!

Allen Smith Sales Representative Buckingham Realty (Windsor) Ltd. 4OLL &REE s % MAIL ALSMITH SOLDIT SYMPATICO CA

www.cwedm.com

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

780-420-1177

investment@cwedm.com

MULTI-FAMILY OPPORTUNITIES â&#x20AC;˘Bank Sale: 24 residential units + 6 main ďŹ&#x201A;oor units; partially complete; Westlock AB; $750,000 â&#x20AC;˘12 units in West Edmonton; 83% 2 or 3 bdm units; new roof 2007 â&#x20AC;˘17 units; central location; concrete construction; new roof and windows. â&#x20AC;˘29 units in 2 buildings in Wetaskiwin; 80% 2-bdms â&#x20AC;˘3.83 acres prime dev. land in Windermere, SW Edmonton â&#x20AC;˘Highrise site on Jasper Ave; 15,000 s.f. across from River Valley; improved with 2 apt. bldgs. (17 units) â&#x20AC;˘Highrise site in Rutherford; 1.02 acres zoned for 105 units in dynamic area â&#x20AC;˘Stony Plain development site; zoned apt. & attached homes â&#x20AC;˘High density dev. sites & apt. opportunities in Wetaskiwin Apartment product is in demand! Please call for our opinion of value of your building!

CHRISTOPHER KAMPHIUS or RAPHAEL YAU multifamily@cwedm.com

COMMERCIAL CONDOS

â&#x20AC;˘9,000 â&#x20AC;&#x201C; 9,500 sq. ft.; located at intersection of Fort Road, Wayne Gretsky Drive & Yellowhead; $130/ sq. ft.

CONTACT BURKE SMITH

burke.smith@cwedm.com

DEVELOPMENT OPPORTUNITIES

+/- 19,701.20 SQ FT: Vacant serviced site in NE Edmonton. Zoned CB1 (Low Intensity Business Zone) ......................................... $395,000 +/- 0.947 ACRES: in Valemount, BC. Zoned C3 (Service Commercial) ................................ $49,500 +/- 1.05 ACRES: in Valemount, BC. Zoned HC (Highway Tourist Commercial) .............$455,000 +/- 3.84 ACRES: in SW Edmonton, Zoned IB (Industrial Business) ............................. $3,500,000 +/- 1.85 ACRES: in NE Edmonton on 50th Street ............................................. $1,295,000 +/- 0.31 ACRES: high visibilty location on 111 Avenue ....................................................... $610,000 CONTACT JEFF MCCAMMON OR DOUG BAUER

INVESTMENT SALES SITE

PRIME WEST EDMONTON LAND â&#x20AC;&#x201C; RA7 â&#x20AC;˘ Ready to build â&#x20AC;˘ 3.34 acres â&#x20AC;˘ Asking $4,175,000 CONTACT JEFF McCAMMON / DOUG BAUER OR DUSTIN BATEYKO

STETTLER MALL, STETTLER, AB

â&#x20AC;˘ Âą91,403 sq. ft. on 10.21 acres anchored by The Brick, Peavey Mart and ATB â&#x20AC;˘ Just $65.00 / sq. ft. â&#x20AC;˘ Located in the heart of Alberta

WESTLOCK MALL, WESTLOCK, AB

â&#x20AC;˘ Âą64,218 sq. ft. on 5 acres anchored by Peavey Mart and The Bargain Shop â&#x20AC;˘ $51.40 / sq. ft. â&#x20AC;˘ Attractive returns

CONTACT DAVID COONEY / DOUG FOGG OR HOWARD McCANN

SPRUCE GROVE, DEVELOPMENT LAND

â&#x20AC;˘ Adjacent to Superstore and Home Depot â&#x20AC;˘ Parcels from 1 - 3.75 acres â&#x20AC;˘ Great owner/user land, join Mac's

CONTACT DOUG FOGG OR MARK McCANN

OFFICE BUILDING FOR SALE

â&#x20AC;˘ Well located 2 storey ofďŹ ce building on 124 Street â&#x20AC;˘ Excellent owner/user opportunity with dental ofďŹ ce built out on main ďŹ&#x201A;oor â&#x20AC;˘ Total of 6,940 sq. ft. above ground â&#x20AC;˘ $1,850,000

CONTACT IAN NEWMAN

FORT MCMURRAY, AB

â&#x20AC;˘ Former Fort Theatre â&#x20AC;˘ 36,400 sq. ft. site which includes a 14,500 sq. ft. building

CONTACT DOUG RAE

EDSON LANDING - $3,950,000 â&#x20AC;˘ 13,390 sq. ft. on 1.14 acres in Edson, AB â&#x20AC;˘ An opportunity to own a quality shopping centre which is 100% leased to excellent tenants with clear title, superior construction in a tremendous highway location.

CONTACT HOWARD McCANN / DOUG FOGG OR ADAM MARTINSON

MERRITT, BRITISH COLUMBIA â&#x20AC;˘ Âą12,000 sq. ft. free-standing building for Sale or Lease â&#x20AC;˘ Includes bonus parking lot â&#x20AC;˘ Lease: $6.00/sq. ft. Sale: $850,000

CONTACT murry.osborne@cwedm.com or scott.sowinski@cwedm.com

FORMER WAL-MART MEDICINE HAT, AB â&#x20AC;˘ High proďŹ le redevelopment opportunity â&#x20AC;˘ 12.95 acres / 100,287 s.f. building â&#x20AC;˘ $10,000,000

CONTACT HOWARD McCANN OR MARK McCANN

DUGGAN MALL, CAMROSE, AB â&#x20AC;˘ Âą65,136 sq. ft. separately titled dept. store anchoring a major enclosed shopping centre; asking $4 Million ($61.40/sq. ft.)

MULHURST BAY CROSSING DEVELOPMENT LAND â&#x20AC;˘ 132.4 acres on Pigeon Lake â&#x20AC;˘ Area Structure Plan approved â&#x20AC;˘ 207 dwelling units â&#x20AC;˘ 200 site R/V seasonal park â&#x20AC;˘ 10.28 acres commercial development site

CONTACT JEFF McCAMMON OR DOUG BAUER

B17

WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com

REGIONAL ROUNDUP Stability seen as government makes up nine of 10 top employers in Lethbridge

WESTERN INVESTOR ethbridge, sheltered behind an expanding wall of government paycheques, has been protected from the global economic gales and the southern Alberta agri-business hub continues to enjoy envious growth. Developer Ken Harvie is among those who expect more of the same in 2012 and beyond.

-

“For all of our big-box development, as well as our downtown development project, we have a lot of activity right now on the commercial end, so we’re very optimistic for 2012 and 2013,” said Harvie, a partner in the Stranville Group.

Harvie’s firm has shown a willingness to immerse itself in Lethbridge, taking on everything from greenfield commercial and residential development on the city’s south end to a downtown project to transform an old movie theatre into offices.

Its Coulee Creek Common project and nearby big-box developments on the city’s south end have become home to a critical mass of retailers, and with Lethbridge growing a comfortable 1.4 per cent in the past year, the demand for good commercial sites isn’t likely to disappear any time soon.

“We’re dealing with a multi-national right now that we’re close to having a deal completed with that’s for over 100,000 square feet,” Harvie explained, adding his firm has also heard from other retailers about two other major buildings, but isn’t in formal discussions at this point.

There’s clearly still a demand for the city’s best land – and it’s easy to see why the windy

city remains steady in Alberta’s boom-and-bust economy.

While many of Alberta’s second-tier cities are largely or almost entirely dependent on the resource sector, Lethbridge springs from agriculture, and remains stable because of its significant public-sector presence.

Indeed, nine of the city’s 10 largest employers are public-sector entities, from Alberta Health Services to the accomplished University of Lethbridge.

The latter, Lethbridge’s second-largest employer, is in line for more than $5.6 million in provincially funded building upgrades, and is starting construction soon on a new $32 million residence complex for an additional 259 beds. It is also receiving a $2.3 million grant to pay for planning work on a long-anticipated science building. On top of that, the university moved up two spots in Maclean’s Canadian university rankings this year – to fourth out of 22 primarily undergraduate schools.

The university’s 1,720 employees add stability to everything from the housing market to retail sales. So does the bustling Lethbridge Agriculture Centre, situated just outside the city. It boasts around 625 staff involved in a wide variety of research. Lethbridge College adds another 930 employees to a market that’s insulated far more than Red Deer or Medicine Hat from downturns in natural-gas drilling.

R Transport Ltd. The trucking company has grown from its strategic location at the junction of Highways 3, 4 and 5 to employ more than 900 people.

“We don’t seem to get the dramatic highs and lows. We’re in a low right now, but our low is not a low like Calgary’s,” offered Harvie, who grew up in southern Alberta and understands what keeps Lethbridge humming.

Lethbridge’s population grew to 87,882 residents this year, a 1.4 per cent hike over 2010.

While residential growth was again strongest on the west side of the Oldman River, commercial growth is focused on the south end, with the city’s downtown focused more on redevelopment. Harvie doesn’t see that changing, even with 32,000 folks choosing the west side as home.

That’s because most west side residents still 1SJWBUF QMBZFST The major 17 private-sector employers in the work on the east side of the river (the university city includes Sunrise Poultry, the largest of is the only major westside employer) and westthree food processors, and trucking giant H & side retailers can’t survive simply from revenue

Photo: City of Lethbridge

DAVE HUSDAL

Photo: University of Lethbridge

1VCMJD QSPUFDUJPO

(TOP) Downtown Lethbridge: new community centre, retail and housing underway. (LEFT) Expanding University of Lethbridge, with 1,720 employees, is the second-ranked employer in the city.

that ramps up at 4 p.m. and disappears five hours later, Harvie says. While a new complex for public and Catholic high schools opened with a public library branch on the west side over a year ago, major commercial development may be years ways away for the west side.

“It’s going to take some creativity and it’s basically going to take a shortage anywhere else of good commercial lands to spur that on,” Harvie said.

%PXOUPXO

In the meantime Harvie’s firm has eyed strategic investment in the city’s core with a redeveloped office complex downtown. It’s also planning a downtown residential tower, though market conditions haven’t led it to chase down a development permit just yet.

The city’s downtown, its traditional retail centre, has lost market share to big boxes on

Please see Retro page B18

"MCFSUB BUSINESS & INVESTMENTS MOTEL IN ST. PAUL • Asking price: $1.3M • Sales: $358,231 • NOI: $236,484 • Restaurant rental income $3,000/mo • 53 Units (12 Kitchenettes)

INDUSTRIAL LAND w/BUILDING FOR SALE

Asking $2,532,500 - Ponoka, Alberta

MOTEL IN MOSSLEIGH • Asking price: $599,500 • Sales: $160,000 • 17 Units + 14 RV parking stalls • Currently No Vacancy!!!

GROCERY STORE w/PROPERTY • Asking price: $1.29M • Sales: $2.6M(Liquor $0.5M included) • 2 Bedroom living quarters included

STRIP MALL IN CARSELAND • Asking price: $2.2M • NOI: $140,400 • Building size: 12,600 sqft • Leased 100%

RETAIL BUILDING IN CALGARY • Asking price: $669,500 • NOI: $35,800

LIQUOR STORE IN ELNORA • Asking price: $249,000 • Sales: $450,000 • Living quarters included

ROCKY PARK CIR REALTY 403-681-7512 www.rockypark.ca

SOLD SOLD SOLD

11.55 acres, 8 individual lots with a 5000 sf unfinished panelized structure on Lot #10 (Lot #10 - 15 are 6 contiguous lots; Lots 19 & 20 are 2 contiguous lots) Located at 49th Street and 60th Avenue in the north Industrial Park within the town limits.

Site is provided with all municipal services, and a railway spur connection to the main CPR line between Calgary and Edmonton. Recent rail crossing was completed by town of Ponoka.

Excellent manufacturing site or stage area for Oil Sands or other Northern Industrial projects.

Lots are for sale individually or as a whole parcel.

Owner may sell entire parcel within the Corporation with tax loss advantage to purchaser.

MLS# C1019384, C1019385, C1019387, C1019388, C1019389, C1019390, C1019391 and C1019392

Mary Yuen-Sears, Realtor SUTTON GROUP - CANWEST #1, 555 Hawkwood Blvd NW, Calgary, AB T3G 3K2 Cell: 403-616-3636 • Fax: 403-592-6912 Email: mary@calgarytagteam.com • www.calgarytagteam.com

Commercial, Industrial & Residential Financing Obtaining Mortgages and Loans can be made Easy & Simple!

Contact: Frank Hickey

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

B18 Alberta

www.westerninvestor.com DECEMBER 2011WESTERN INVESTOR

WINDOW OF OPPORTUNITY!

Invest in land with development potential.

381 acres on Lake McGregor.

Hour and 10 minutes SE of Calgary. Approximately 3/4 mile of shoreline. Gently sloping. Suitable for lake view lots or golf course. Vendor willing to lease back.

mpjohnson41@hotmail.com ALBERTA PROPERTIES FOR SALE â&#x20AC;˘EDMONTON WEST END - 12 UNITS Walk-up apartments, all two bedroom units. Larger size with large storage room, excellent condition, excellent location. Asking $1,560,000. â&#x20AC;˘WEST EDMONTON - 14 UNIT APARTMENT good suite mix, extensively renovated, High occupancy Asking $1,890,000. â&#x20AC;˘SMALL STRIP MALL in Edmonton metropolitan area small town, anchored with A&W and KFC, busy trafďŹ c, great location. Asking $2,200,000. â&#x20AC;˘62 ROOM HOTEL & RESTAURANT in a booming small town in Alberta, excellent location, well maintained, very high occupancy, Asking $7,900,000

For more information please contact: (BROKER) at 780-413-4800 Ext. 27 or email: interactrealty@shawbiz.ca

SAM SIT

3&530 from B17 the south end for a decade, but it isnâ&#x20AC;&#x2122;t exactly fading into oblivion. Nor is that scenario likely, given entrepreneurs like Lynette Harder, a professionally trained speech pathologist who loves coffee, raising a family in the city and old buildings.

Those passions led Harder and her husband to buy a long-neglected building downtown about six years ago. They now use the landmark at Fifth Street and Third Avenue South as the home base for Express Coffee & Tea. Itâ&#x20AC;&#x2122;s a coffee service aimed at offices and other businesses with a retail presence that employs a dozen people. The extensively renovated second and third floors of the building boast six unique residential suites that serve the housing needs of folks who prefer to be downtown. â&#x20AC;&#x153;I love this building. I love this location.

I think the building suits the business,â&#x20AC;? said Harder, who is more than happy she invested in a structure thatâ&#x20AC;&#x2122;s past its first century in the cityâ&#x20AC;&#x2122;s core.

She admits downtown seemed a little like a ghost town when she made the move from a hard-to-find north Lethbridge location to the one she sees as a big advantage now. â&#x20AC;&#x153;Since weâ&#x20AC;&#x2122;ve moved here Iâ&#x20AC;&#x2122;ve seen huge improvements in the downtown, and I see it continuing to go in that direction,â&#x20AC;? said Harder, whose business is across from Galt Gardens, a major park thatâ&#x20AC;&#x2122;s home to various special events each year.

$PNNVOJUZ DFOUSF

Third Avenue will soon boast more traffic a few blocks east of Harderâ&#x20AC;&#x2122;s store on a former supermarket site. Thatâ&#x20AC;&#x2122;s where the city is constructing the new Lethbridge Community Arts Centre at the corner of Eighth Street. The $20.7 million project, expected to be finished in early 2013, will offer everything from gallery and studio space to music conservatory classes. The site may also have a performing arts centre, though city council has yet to find cash in its capital budget for the latter.

A 2010 study recommended a 153,000square foot facility with a 1,250-seat theatre and a 250-seat rehearsal/recital hall, but its price tag of $70 million caused some sober second thought. A subsequent report has advised a more modest complex for $42 million.

More downtown improvements seem inevitable, even if the performing arts theatre project doesnâ&#x20AC;&#x2122;t go ahead.

George Kuhl, the cityâ&#x20AC;&#x2122;s downtown revitalization manager, says the city is looking at what else it can do to enhance pedestrian traffic on key downtown streets in the existing business revitalization zone.

For his part, Harvie sees downtown redevelopment as possible and profitable, with the right opportunities. Thatâ&#x20AC;&#x2122;s why his firm sank cash into an old theatre for an office complex a block west of City Hall along what he calls â&#x20AC;&#x153;Banking Row.â&#x20AC;?

Kuhl says he expects the downtown will continue to evolve through mixed-use rede-

2VJDL GBDUT ALBERTA

Calgary

1

Strathmore Okotoks High River

1

Brooks

2

Claresholm Crowsnest Pass

LETHBRIDGE

3

â&#x153;Ş

Coutts

Whiskey Gap

U.S.A.

Babb

Sunburst

-FUICSJEHF "# 2011 building permits (Jan.-Sept. â&#x20AC;&#x2DC;11) $129 million Difference from 2010 -12.2 per cent Average single-family house price $281,628 Average per-square-foot commercial lease rates Retail - $14.41; office - $12.57; industrial - $7.23 Industrial lots $400,000 per acre

velopment thatâ&#x20AC;&#x2122;s focused on pedestrians.

Noted Kuhl: â&#x20AC;&#x153;Most of what we see righ t now is redeveloping buildings that are already there.â&#x20AC;?

While â&#x20AC;&#x153;steadyâ&#x20AC;? may not be the dream adjective for a city thatâ&#x20AC;&#x2122;s appealling to investors, the sometimes-outspoken Harvie says his community has proven it can get things done.â&#x2014;&#x2020;

INTERACT REALTY INC.

BUSINESS FOR SALE! - Speciality Service business in Calgary - Very proďŹ table; great margins - 30 + years in business with multiple owners - Good location and lease - Minimal staff required; easy to learn - Price: $650,000

â&#x20AC;˘ A Flagged Full Service Hotel strategically well placed in a Premier location, completely upgraded, signiďŹ cant mortgage ďŹ nancing, very strong revenue performances, a good investment with a big upside potential going forward. Asking $26,900,000.

Tim Walsh, Commercial RealtorÂŽ Direct: (403)239-5100 Calgary, Alberta

Tim Walsh, Commercial REALTORÂŽ â&#x20AC;˘ Direct: (403)239-5100 Email: info@BestAlbertaRealEstate.com www.BestAlbertaRealEstate.com

JERRY RACZKOWSKI 780-932-2121 jrcoach@telus.net RE/MAX REAL ESTATE

ROB REGAN 780-490-9324 ar_ar@shaw.ca 10510 121 St., T5N 1L4 Edmonton, AB

www.AlbertaInvestorGroup.com Beijing, Chinghai, Tianjin, China Investments Real Estate Shows UĂ&#x160;Ă&#x160; Ă&#x192;Â&#x2C6;>Â&#x2021;*>VÂ&#x2C6;wĂ&#x160;VĂ&#x160; Â&#x153;Â?Â?>Ă&#x20AC;Ă&#x160; Â&#x2C6;Â?Â?Â&#x2C6;Â&#x153;Â&#x2DC;>Â&#x2C6;Ă&#x20AC;iĂ&#x192;Ă&#x160;Â&#x2DC;Â&#x153;Ă&#x153;Ă&#x160;Ă&#x192;iVÂ&#x153;Â&#x2DC;`Ă&#x160; Â?>Ă&#x20AC;}iĂ&#x192;Ă&#x152;Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160;Ă&#x152;Â&#x2026;iĂ&#x160;Ă&#x153;Â&#x153;Ă&#x20AC;Â?`Ă&#x160;>Ă&#x20AC;iĂ&#x160; Â?Â&#x153;Â&#x153;Â&#x17D;Â&#x2C6;Â&#x2DC;}Ă&#x160;Ă&#x152;Â&#x153;Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x203A;iĂ&#x192;Ă&#x152;Ă&#x160;>LĂ&#x20AC;Â&#x153;>`t UĂ&#x160;Ă&#x160;7iĂ&#x160;>Ă&#x20AC;iĂ&#x160;Â?Â&#x153;Â&#x153;Â&#x17D;Â&#x2C6;Â&#x2DC;}Ă&#x160;vÂ&#x153;Ă&#x20AC;Ă&#x160;ÂľĂ&#x2022;>Â?Â&#x2C6;Ă&#x152;Ă&#x17E;Ă&#x160; Â&#x2C6;Â&#x2DC;Ă&#x203A;iĂ&#x192;Ă&#x152;Â&#x201C;iÂ&#x2DC;Ă&#x152;Ă&#x160;ÂŤĂ&#x20AC;Â&#x153;Â?iVĂ&#x152;Ă&#x192;Ă&#x160;Ă&#x152;Â&#x153;Ă&#x160;ÂŤĂ&#x20AC;iĂ&#x192;iÂ&#x2DC;Ă&#x152;Ă&#x160; Â&#x2C6;Â&#x2DC;Ă&#x160; Â&#x2026;Â&#x2C6;Â&#x2DC;>Ă&#x2030; Ă&#x192;Â&#x2C6;>Ă&#x160;>Â&#x2DC;`Ă&#x160; >Â&#x2DC;>`Â&#x2C6;>Â&#x2DC;Ă&#x160; Â&#x2DC;Ă&#x203A;iĂ&#x192;Ă&#x152;Â&#x153;Ă&#x20AC;Ă&#x192;Ă&#x160;Ă&#x152;Â&#x153;Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x203A;iĂ&#x192;Ă&#x152;Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160;LĂ&#x2022;Â?Â?Â&#x2C6;Ă&#x192;Â&#x2026;Ă&#x160;

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CURRENT OFFERINGS

MARKET YOUR REAL ESTATE PROJECTS TO CHINESE INVESTORS WANTED: APARTMENT BUILDINGS AND MULTI-FAMILY SITES IN BC & ALBERTA

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

â&#x20AC;˘ A Superb 103 Room Limited Service Hotel, featuring a number of unique features, no differed maintenance, plus excellent curb appeal and exposure, well located in a region of tremendous economic diversity that should provide a signiďŹ cant degree of operational upside going forward.

Asking $13,200,000. â&#x20AC;˘ A Flagged 102 Room Full Service Hotel well located in a prime commercial area of a dynamic city, the stellar performance of its operation is attested to by its continuous outstanding growth in revenues, plus substantial up-side potential. Asking $12,900,000. â&#x20AC;˘ A Flagged 95 Room Limited Service Hotel consisting of a variety of suites, well located with highway exposure and surrounded by a substantial number of conveniences, continued superb revenue performances that yield substantial N.O.I. that ultimately result in excellent return on equity and investment. Asking $13,900,000. â&#x20AC;˘ A Flagged 48 Room Limited Service Hotel featuring indoor Swimming pool among its other amenities, very well located on a service road that gives it highway exposure, outstanding Revenue/ occupancy performances. Asking $4,900,000. â&#x20AC;˘ 4.6 Acres of Vacant Prime Commercial Land available for immediate Development in a most sought after location with main artery exposure and very high daily vehicle trafďŹ c count, priced for immediate sale at an asking price of $4,100,000. â&#x20AC;˘ Located in a very popular Ski Resort ANew Deluxe 2 - Bedroom Condo consisting of 2 bathrooms, ďŹ replace, cable among the many other superb Features, plus the many amenities such as swimming pool, sauna, ďŹ tness center, indoor parking to name a few within the Building Complex.

Immediate possession available, a great buy with cash to an existing mortgage of $330,900 more or less, at the Asking Price of $499,000.

-&5)#3*%(&

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Call KEITH

LEES

SUN CITY REALTY LTD. PH: 403-329-8899 keith@keithlees.com

Alberta B19

WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com

CENTRAL ALBERTA CAMPGROUND OPPORTUNITIES

LAKEFRONT! 403-347-0744

INVESTMENT PROPERTIES FOR SALE! 18 UNIT WALK UP apartment in west Edmonton. Many upgrades. Good location.

Exclusive listing at the best price per door price on the west end. $1,530,000 23 UNIT APARTMENT, University area, nice condition and 5.75 cap.

Call for proforma 13,231 SF, 5 BAY RETAIL STRIP MALL in Leduc, AB. with solid long term tenants. 9 years old. NOI over $153,000 per annum. 7 cap at $2,095,000

$3,250,000

$7,500,000

KACIKEWIN CAMPGROUND & CABINS

DICKSON LEISURE GROUNDS

Only 40 min. west of Edm. 10.00 +/- Fully treed acres. 89 beautiful lakefront sites.

Fully rented last 9 yrs. Store/Manager's residence. Room for expansion! Large sandy beach area.

Central between Calgary & Edmonton. 208 fully rented lakefront sites. New pool and trout pond. Exceptionally well maintained.

19.00 +/- acres. On popular Glennifer Lake.

Great fishing & boating for all water sports.

DUSTY SMITH TEAM

68 FULLY SERVICED MOBILE HOME vacant titled lots located within a modern Mobile Home Park in High Level, AB. Fully serviced, paved roads, underground utilities, fenced and landscaped. MOTIVATED SELLER MAY CARRY 60% FINANCING FOR A QUALIFIED BUYER! Price just slashed to $975,000!

MLS # E1014318 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!

RICK D. JENKINS 780-990-6120 cell

SUTTON LANDMARK REALTY / RED DEER, AB

403-347-0744 • www.dustysmithteam.ca

POLARIS REALTY

Email: rdjri@telus.net Commercial Realtor

WANTED! I have clients with CASH looking to purchase Shopping Centres, Strip Malls and Gas Stations in Alberta!

Call Sammy EMPIRE REAL ESTATE GROUP

780-906-6652

Each office is independently owned and operated.

REVENUE OPPORTUNITIES

INVESTMENTS CALGARY AREA

185 ACRES WEST OF CALGARY $4,000,000

UÊ CROSSFIELD – 2 – 2 acre industrial lots – for sale or lease UÊ >À}iÊ industrial complex Ê v À Ê Ã > i Ê À Ê i>ÃiÊÌ Ì> Ê vÊ ÎäääÊõ°vÌ°Ê vÊLÕ ` }

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

UÊ CARSTAIRS –Ê iÀ V> Ê ÌÃÊv ÀÊÃ> iÊ priced to sellÊqÊV> Êv ÀÊ ÀiÊ`iÌ> à U 64 seat restaurant Ê Êv>ÃÌÊ}À Ü }Ê V Õ ÌÞÊ north of Calgary]Ê«À ViÊ V Õ`iÃÊ > `]ÊLÕ ` }ÊEÊiµÕ « i Ì 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 Crossfield]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

UÊ 132 acres Ê highway #2 frontage ]Ê ÓäÊ 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 ÉUÊ ¾ acreÊ `ÕÃÌÀ > Ê > `Êv ÀÊ i>Ãi UÊ 137 acres ÊÜ Ì Ê#2 highway frontageÊqÊ iÝVi i ÌÊ>VViÃÃ

2 COMMERCIAL VACANT LOTS ON 50TH STREET IN COLD LAKE ideal for new develoopment 110 ft of frontage

$239,900

Adjacent lot to the above 165’ x 125’ with a 40’ x 60’ warehouse. All chain link fenced

$239,900

TELE: 403-932-5419 TF:

1-888-932-5419

EMAIL: lackeyg@telus.net

RE/MAX Real Estate (Mountain View)

OPPORTUNITIES AT SYLVAN LAKE, ALBERTA Awesome Investment Opportunity Land and Building on Lakeshore Drive - LOCATION IS KEY! Across the street from the beach, outdoor patio to take in the view, Priced to sell at $790,000

Call CARL STEPP cell: 403-358-9300

UÊ East Balzac Ê q Ê Ê v Ê > } > À Þ Ê q Ê £ x £ Ê www.sylvanlakehouseguy.com >VÀiÃ]Ê£ÓxäÊõ°vÌ°ÊLÕ }> Ü]Ê{ä½ÊÝÊnä½Ê +Õ ÃiÌ UÊ BEISEKERÊqÊÓ°ÇÎÊ>VÀiÃÊ `ÕÃÌÀ > Ê > `]Ê vi Vi`ÊEÊ}À>Ûi i`]Ê«ÀiÃi Ì ÞÊÕÃi`Êv ÀÊ ÃÌ À>}iÊPRICED TO SELL

$749,900

UÊ 320 acresÊiÝVi i ÌÊv>À > `ÊqÊÓäÊ ÃÊ Ê vÊ > }>ÀÞ UÊ 151 acres Êi>ÃÌÊ vÊ PRICED TO SELL

A ir drieÊqÊ

For more information on these and other properties

RE/MAX Cold Lake 2000

GORDON LACKEY REALTOR®

RE/MAX real estate central alberta

Attention

UÊ CAR WASH ÊqÊ}Ài>ÌÊ ÛiÃÌ i Ì

7.2 ACRES ZONED HIGHWAY COMMERCIAL Services prepaid

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

DEVELOPERS - guidelines are to develop this land into 1 acre parcels “OR” Build your dream estate home and secure its value with the land. Unsurpassed views of the Rockies.

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.

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.

B20 Alberta

For Sale

Pam Gill

(780) 455-4088

www.apartmentsinedmonton.com

EDMONTON

APARTMENT PROPERTIES

Waterfront Pub & Detached Liquor Store Land, buildings and business Prince Rupert, BC $2,500,000 BCâ&#x20AC;&#x2122;s fastest growing super port city

For Lower Mainland Pub Opportunities call:

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

15 SUITES, NAIT ...............................$1,575,000 15 SUITES, Downtown .....................$1,425,000 20 SUITES Cromdale........................ $1,950,000 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

PROFIT FROM EDMONTON'S DOWNTOWN REVITALIZATION! â&#x20AC;˘ High visibility Location â&#x20AC;˘ Over 11,000 s.f. usable space â&#x20AC;˘ On 3 titled lots â&#x20AC;˘ OfďŹ ce and warehouse space

Only $685,000 DON'T WAIT TOO LONG!

(780) 452-2700

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Colliers Macaulay Nicolls Inc. 3555 Manulife Place, 10180 â&#x20AC;&#x201C; 101 Street Edmonton, AB T5J 3S4

+1 780 420 1585 Accelerating success.

AIRCRAFT HANGAR FOR SALE Highway 830, Warren Thomas Aerodrome, Strathcona County, Alberta

EGIONAL

ENTRE OF

Prime Highway Commercial Lots Next to our New Hotel, Convention Centre and Casino 3 to 4 Acre Parcels $175,000 per Acre

RAY TELFORD

Write: 5204 â&#x20AC;&#x201C; 50 Ave., Camrose, AB, T4V 0S8 Toll Free: 1-888-672-4426 Cell: (780)878-1063 Fax: (780)672-2469 Email: rtelford@camrose.ca www.camrose.ca

HOTEL OPPORTUNITIES Â&#x2026; 300.4 */%&1&/%&/5 -*.*5&% 4&37*$& PO B NBKPS "MCFSUB IJHIXBZ JO B TUSPOH DPNNFSDJBM DFOUFS XJUI HSFBU QSPKFDUJPOT /FXFS IPUFM XJUI HSFBU 'MBH QSPTQFDUT "TLJOH Â&#x2026; 300.4 '-"((&% -*.*5&% 4&37*$& IPUFM GFBUVSJOH JOEPPS TXJNNJOH QPPM XIJSMQPPM HVFTU MBVOESZ BOE PUIFS BNFOJUJFT 5IJT QSPQFSUZ JT WFSZ XFMM MPDBUFE PO B NBKPS IJHIXBZ BOE IBT HPPE SFWFOVF BOE PDDVQBODZ UIBU BSF USFOEJOH VQXBSET "TLJOH

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For further information, contact Gary & RenĂŠe Anderson Hospitality Sales Specialists Direct: 780-432-1408 contactus@andersonhotelsales.com www.andersonhotelsales.com Carton Realty Ltd. Office: 780.444.6605

Ken Williamson, CFA DIR +1 780 969 2999 ken.williamson@colliers.com

OFFICE BUILDING FOR SALE. Prime Location. On Jasper Avenue and 114th street in the Oliver Area. 4 storey building consisting of 56,012 square feet . Property is on 3 lots (50 feet x 150 feet) with also parking lots (92 feet x 150 feet) in the rear.

Property is wedge between two drugs stores (Shoppers Drug Mart and Medicine Shoppe). New developments all around.

ELLERSLIE RE DEVELOPMENT SITE 80 acre parcel across from the new Edmonton Recreation centre along Ellerslie Road.

PULSE POINTE DEVELOPMENT SITE. Located in the Quarters project on 95th street and 102 Avenue. A total of 4 lots (14,200 sq.ft.) (142 ft frontage and 100 ft deep. Presently, building is 11,840 sq.ft. This is a new up and coming area. Plans for future LRT system is slated for the area. Asking $ 3,300,000 OLD STRATHCONA BUILDING. Located on Prime 82nd Avenue and 103 Street. Historical building. Long, long term Tenants, built in 1895. Building is 1650 sq.ft. of main ďŹ&#x201A;oor with 12 foot ceilings. High ceilings in basement. Well looked after building.

Asking $ 1,100,000

Please Call Bob Chinn, Assoc. (bob.chinn@century21.ca)

Web: chinnproperty.com

Val Toffoli

Selling Edmonton since 1987

Phone: 780-707-9395

REALTY EXECUTIVES POLARIS 4107 - 99th Street, Edm, AB T6E 3N4 Email: vtoffoli@shaw.ca â&#x20AC;˘ www.valtoffoli.com

APARTMENT BUILDINGS: â&#x20AC;˘ 2 Units â&#x20AC;&#x201C; Full Side by Side Bi-Level Duplex. Great West End Location. Needs some TLC & priced Accordingly!

ONLY $479,000 â&#x20AC;˘ 12 Ste Character Bldg. Owner Managed & Well Maintained. Large Stes. Central. Some upgrading to suites - REDUCED! â&#x20AC;˘ 12 Ste Character Bldg. Central McDougal. Over 6.5% cap rate. Some upgrades. Seller open to Reasonable Offers! â&#x20AC;˘ 18 Ste â&#x20AC;&#x201C; Ctl QMP â&#x20AC;&#x201C; 6.7% Cap Rate; 3 Appliances (Dishwashers); Some Covered Parking. Many Upgrades in & out! â&#x20AC;˘ 20 Ste â&#x20AC;&#x201C; Ctl McD â&#x20AC;&#x201C; 6.12% Cap Rate; Multitude of Upgrades â&#x20AC;&#x201C; Excellent Ste Mix ranging from 575-880 sq.ft. Balconies â&#x20AC;˘ 20 Ste â&#x20AC;&#x201C; Ctl McD â&#x20AC;&#x201C; 6.59% Cap Rate; Major Upgrades; Great Ste Mix (only 9/20 are 1 Bdrm!) Seller 2nd VTB Mtg Possible â&#x20AC;˘ 42 Ste â&#x20AC;&#x201C; Ctl QMP â&#x20AC;&#x201C; 2 S x S projects â&#x20AC;&#x201C; Over 6% Cap Rate; Many Upgrades; Super Ste Mix with LGE Stes!

2nd VTB Mtg B & B - HEALTH RETREAT â&#x20AC;&#x201C; DEVELOPMENT - EXECUTIVE ESTATES â&#x20AC;˘ 74 BEAUTIFULLY TREED ACRESin Parkland County near Edmonton/Devon. Unique 6600 sq. ft. Architecturally Designed Home with 8 Bdrms - 6 Baths. Outdoor PoolHorse Shelter-Triple Garage. Presently a Residential Estate. â&#x20AC;˘BUILDERS/DEVELOPERS: 40 acre parcel ready for submission to county for 8 lot subdivision. Bonus: 1 lot features gorgeous 3632 sq. ft. Executive home with triple garage & 2 large shops â&#x20AC;&#x201C; excellent home base for builder/developer. Across from 1 of the most prestigious subdivisions in parkland county.

WANTED: APARTMENT BUILDINGS Have QualiďŹ ed Buyers Ready to Purchase!

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PH: 780-434-4700

HE

EAST CENTRAL ALBERTA

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Ellerslie RE-Development Site Four acre site on the northwest corner of Ellerslie Road and 66th Street close to the Edmonton International Airport. Presently, zoning is being changed to commercial. New developments along 50th Street and Ellerslie Road include a new Edmonton Recreation centre development and the Edmonton Park and ride. 50th street connects onto Beaumont and Anthony Hendey Freeway.

Highway to Beaumont is in expansion phase.

CAMROSE T R C

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THE REALTY COMPANY

EDMONTON & AREA

OF

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Call Gerald Tostowaryk

www.colliers.com

THE CITY

GEORGIOâ&#x20AC;&#x2122;S BUILDING. Located across the street from Strathcona High School along busy 104th Street and 72nd Avenue. Main ďŹ&#x201A;oor is 3,500 sq.ft. with fully ďŹ xture restaurant and Upstairs is 1,600 sq.ft. presently used for ofďŹ ce. Great owner user opportunity. Asking $ 765,000 LAND AND BUILDING FOR SALE. Over 9,000 square feet on the main ďŹ&#x201A;oor. Living quarters upstairs with a basement level, parking to the east of the building. Lot is 14,577 square feet (120 feet x 122 feet) Located in the Quarters project on 95th street and 102 Avenue. This is a new up and coming area.

Plans for future LRT system, hotels and high rises is slated for the area.

BUSINESS CONDO IN OLD STRATHCONA 1500 square feet perfect for professional use, has 6 ofďŹ ces, storage, kitchen, reception area. In desirable Strathcona. Close to all amenities, busy trafďŹ c.

FREESTANDING BUILDING. Fully leased out on busy Jasper Avenue on a 50 x 150 lot. Building is two storey approx. 5,000 square feet on the main ďŹ&#x201A;oor with paved parking in the rear.

or Mark Wilbert, Assoc. (mark.wilbert@century21.ca) CENTURY 21 A.L.L. STARS REALTY LTD

VISIT OUR WEBSITE AT: www.calgaryland.net

PUBS

www.westerninvestor.com DECEMBER 2011WESTERN INVESTOR

$"-("3: "3&" %&7&-01.&/5 -"/%4 EAST CALGARY - 84 ST. SE 98 Acres near Stoney Trail $15.6 Million ROCKY MOUNTAIN HOUSE Golf Course, Campground and Development Land. 303 Acres, Zoned Recreational $3.79 Million ROCKY VIEW 160 Acres on Country Hills Boulevard $5.6 Million EAST CALGARY - 17TH AVE SE 160 Acres near Stoney Trail $20 Million EAST CALGARY RY - 844 St. NE near Stoney 160 Acres ne ear Sto oney Trail Trai $32 M Million illion EAST CALGARY - 17 Ave SE 13.52 Acres Stoney Trail Frontage $6.76 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 - $10.2 Million 140 Acres - $16.1 Million 160 Acres - $18.4 Million

KEVIN MOORE (403) 617-2846 XXX DBMHBSZMBOE OFU

-FHBDZ 3FBM &TUBUF 4FSWJDFT -BOE %FWFMPQNFOU BOE .BSLFUJOH $PNQMJNFOUBSZ -BOE 0XOFS $POTVMUBUJPO

Alberta B21

WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com

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Calgary’s East Village linked

C

algary has opened the four-lane Fourth Street S.E. underpass, a joint effort of Calgary Municipal Land Corp. and the city, which will spur downtown development It connects Stampede Park and the Saddledome with the redeveloping East Village, dipping below the CP Rail tracks.

The $70 million underpass project is a critical piece of infrastructure to accommodate 22,100 vehicle trips a day once the build-out of East Village is complete.

“This underpass is critical to the future development of East Village,” said Michael Brown, CMLC’s president and CEO. “But it also supports the Calgary Stampede master plan redevelopment, the National Music Centre and other projects slated for the area.”

Apart from wide, pedestrian-friendly sidewalks and dedicated bicycle lanes, the underpass features state-of-the-art LED lighting in its walls and handrails.

Edmonton arena inches closer

E

dmonton took major steps in late October toward the construction of a new downtown arena.

Following approval of a financial framework for the $450 million arena – the city will pay $125 million directly to the project, and $125 million will be generated by a ticket tax – the city moved ahead with $41 million in land purchases to accommodate the arena and related developments.

The Katz Group, which owns the NHL’s Edmonton Oilers, is committing $100 million to the new city-owned arena, while the city plans to keep chasing federal and provincial contributions to generate the remaining $100 million for its arena budget.

The city has defended the land purchases for the arena site and surrounding amenities, which amount to almost 16 acres.

“Owning the land around the arena allows the city to have greater control over the type and pace of development,” said city manager Simon Farbrother. “In the end, the city will only own the land needed for the arena and associated infrastructure. Buying the rest now is strategically important for development in the area, and the city will sell it at the appropriate time.”

Alberta’s largest bridge opens in Fort Mac

M

otorists travelling in and through Fort McMurray are now driving over Alberta’s largest bridge deck – one that covers an area equal to five football fields.

The brand new $127-million Athabasca River Bridge carries Highway 63 over the river.

It opened to four lanes of two-way traffic, but will eventually carry five lanes of northbound traffic over the river.

“This milestone puts us well on our way to our ultimate goal of having 10 lanes of traffic flowing over the Athabasca River,” said Ray Danyluk, Alberta’s minister of transportation.

“This new bridge is a key part of an overall plan to move people and goods safely and efficiently in Fort McMurray.”

New freeway opens NW Edmonton

T

he much-anticipated opening of the northwest section of Anthony Henday Drive gives truckers and commuters access to 21 kilometres of free-flowing road in the capital region. The $1.42 billion portion of the freeway runs from Yellowhead Trail on the west side of Edmonton to Manning Drive and reduces travel time significantly. It’s a big plus for developers in the city’s north-

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he future is looking a lot brighter these days for developers and taxpayers in the northeast Alberta community of Cold Lake.

That’s because the city’s long pursuit of a better financial situation has yielded a commitment from the province to share millions of dollars of tax revenue annually with the oilsands city, population Cold Lake has access to huge tax pool.

14,500.

Under a deal that involves several municipalities, not to mention the quiet creation of a new provincially administered improvement district, tax revenue from oilsands plants on what’s known as the Cold Lake Air Weapons Range will bolster city coffers starting in 2012.

That revenue had been flowing only to Lac La Biche County. The county will in turn receive some compensation from Cold Lake. The Municipality of Wood Buffalo, which contains Fort McMurray, will lose some revenue to Lac La Biche County under the arrangement, but gain access to Crown land for development.

For Cold Lake, the deal means phased-in access to somewhere in the neighbourhood of $18 million annually in new property tax revenue, more than it’s collecting from all its beleaguered taxpayers in 2011.

“We’ve been very consistent with regard to the city’s concerns over its escalating infrastructure deficit combined with an unbalanced municipal tax base, which is comprised of mainly residential assessments,” said Cold Lake Mayor Craig Copeland. “This was unsustainable and simply not viable.”

The deal means a municipality that had been making noise over the years about shutting down development and dissolving into the surrounding Municipal District of Bonnyville will be in a much better position to handle future expected oilsands expansion in the area.

The MD will be paid $600,000 in 2012 by the city to maintain roads accessing its new cash cow, with that amount escalating in future years.

Interestingly, new provincial PremierAlison Redford has been fairly silent on the initiative, despite a flurry of media coverage in northeast Alberta.

As of November 1, the province had yet to issue even a news release on its controversial tax re-allocation scheme. Of course prominently announcing an about-face might seem risky for a government that 16 months earlier was telling Cold Lake it was sustainable under existing taxation models.

Photo: Tammy Read/Point2Point Real Estate

8)"5¤4 )"11&/*/( */

west and in neighbouring St. Albert.

The project is completely free flow and includes eight interchanges, five fly-overs and two rail crossings, for a total of 27 bridge structures. With the opening of this leg, the freeway is 90 per cent complete and travellers have access to a total of 69 kilometres of free flow on Anthony Henday Drive.

Northwest Anthony Henday Drive is the single largest public-private partnership transportation investment to date for the Alberta government. The contract is with Northwest Connect General Partnership to design, finance, build and maintain the new portion of freeway.◆ – Compiled by Dave Husdal

"The JEDI region offers Kimto Manufacturing a number of advantages including a good transportation network, a very low cost of doing business, and access to a broad range of skilled labour."

Contact JEDI for your best business advantage

(780) 361-6231 email info@jedialberta.com

www.jedialberta.com

CITY OF WETASKIWIN • TOWN OF MILLET • COUNTY OF WETASKIWIN

B22 Alberta

www.westerninvestor.com DECEMBER 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

Colliers Macaulay Nicolls Inc. 3555 Manulife Place, 10180 – 101 Street Edmonton, AB T5J 3S4

+1 780 420 1585 www.colliers.com

Accelerating success.

Retail Investment Opportunity

Multifamily Opportunity 15 UNITS PENDING

14 UNITS SOLD

16,164 SF RETAIL BLDG

Edmonton, AB West end location, one block away from approved LRT route, 6 three bedroom suites

Edmonton, AB North location, new PVC windows, 12 - two bedrooms, upside on rents

48 UNITS PENDING

129 UNITS AVAILABLE

542-24 St., Fort MacLeod, AB Fort Plaza Fully leased to 5 tenants NOI - $162,323 Anchor tenants: Fields, Anderson Liquor, The Cash Store

Red Deer, AB 75% two bedroom units, large suites, ravine views, oversized site size

21 UNITS PENDING Edmonton, AB NAIT location, turnkey project, upside via LRT expansion

London, ON 11 Storey concrete high rise, condo quality, strata titled

12 UNITS NEW LISTING Edmonton, AB Centrally located, close to NAIT LRT route, new roof, boiler and windows, fully renovated, turnkey project

www.colliersmn.com\edmontonapartments

Amit Grover

Jandip Deol

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

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

2-12,000 SF BUILDINGS

Ponoka, AB 22 acres, Highway 2 exposure

Edmonton, AB Calgary Trail, office/retail centre, for sale or lease, Stony Plain Road and central Edmonton for sale

EM TE TOWN Alder Flats, AB

NEWER RETAIL STRIP MALL Unique western themed town with Edmonton, AB 3 buildings totalling 16,259 SF, south Edmonton, principles only

10303 65 Avenue, Edmonton, AB 12,044 sf 2 storey office/ retail, frontage on Gateway Boulevard, Price $1,400,000

PONOKA LUBE-X BUILDING

cabins, campground and motel, operating business with excellent growth and upside

Jeff Grobman

Steven Pearson

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

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

5011-48 Avenue, Ponoka, AB 26,782 sf fully leased retail complex. The Bargain Shop, Medical Clinic, Pharmacy.

Year I Income - $298,367 Price: $3,500,000

4714 - 50 STREET, PONOKA, AB OUTBACK STEAKHOUSE 2,512 sf freestanding building, BUILDING strong Covenant Tenant, 2874 Calgary Trail, Edmonton, AB Average Rental income - $69,500 7,063 sf freestanding retail pad.

Price - $868,750 Net income: $190,701/year Price: $2,200,000 DIR +1 780 969 3003 casey.mcclelland@colliers.com

80,000 SF BUILDING

Rimbey, AB Residential & commercial development on Highway 53

HEALTHWORKS BUILDING PONOKA TOWNE CENTRE

Casey McClelland Mark Swaenepoel

Land & Building Opportunities

24 ACRES

SOLD

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

Hotels

WEST COUNTRY INN Drayton Valley, AB Limited service, 52 rooms, built in 2005. Asking $4,100,000

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

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

10020 BIGGS AVENUE Fort McMurray, AB 53,300 SF land with 13,000 SF building. Excellent redevelopment C5 Land. (California Club Bingo)

20,000 SF RETAIL

26.99 ACRES OF INDUSTRIAL LAND Fort McMurray, AB Located on Hwy 69 close to the planned airport terminal

COMING SOON Fort McMurray, AB Up to 300,000 sqft of Industrial Development. Build to suit from 5,000 square feet and up. Close to airport.

Fort McMurray, AB For sale. With or without business. KUUSAMO DEVELOPMENTS Available immediately. Excellent Fort McMurray, AB exposure in a newer building 5 bays sold or leased, only 5 bays remain 2 LOTS WITH LAND & BUILDINGS Fort McMurray, AB 145 MACMILLAN RD. 280 MacLennan Crescent Fort McMurray, AB 10% Cap rate. $6,775,00. 290 16,800 SF industrial building, MacLennan Crescent 2.33 acres fully leased, NOI $700,000 w/ 6,000 SF shop. $5,450,000 rising to $750,000 in 2013

INDUSTRIAL BAYS FOR SALE OR LEASE Ready August 1, 2011 occupancy Taiga Nova Eco Industrial Park

INDUSTRIAL BAYS Fort McMurray, AB 12,978 SF, for sale or lease 3 bays sold, 1 available

Ken Shebib, CCIM

FORT MCMURRAY AIRPORT BEAVERLODGE MOTOR INN Fort McMurray, AB Hotel development opportunity.

New terminal. Call for details.

Fort McMurray Opportunities

Beaverlodge, AB Two hotels, 60 rooms, revenue of $4 mil. Asking $5,500,000

MOB DIR

+1 780 863 7355 +1 780 881 6297

ken.shebib@colliers.com

Land Opportunities

DAYS INN Dawson Creek, BC Occupancy rate above 80%. 85 rooms. Asking $11,150,000

FLAGGED HOTEL Edmonton, AB Full service hotel. 90 rooms.

Leased F&B. Asking $8,750,000

RED DEER LAND

FOR SALE

404 acres of prime future residential land 8.9 kilometres of river frontage Recently annexed into Red Deer City Limits Price: $15,000,000 ($37,134 per acre)

+/- 100 acres Significant gravel deposit 823,820 cubic meters of proven aggregate reserves.

Price: $1,000,000

BELLWETHER PARK

Alberta Opportunities

13124 130 Avenue, Edmonton, AB FOR SALE

TOWER PARK LAND Grande Cache, AB c 86+ acres for development in Grande Cache c ASP in place or modify as you desire. c Demand for housing in Grande Cache. c Residential, retail, office, multi-family and industrial sites to be developed. c Interest from a food/grocery anchor tenant.

CAMROSE LAKEFRONT LAND

FOR SALE

3.72 acres of land shovel ready for 76 row-housing units Price: $2,800,000

SOLD: SYLVANCROFT LANDS

SOLD: WABAMUN LAKE LANDS Lakeshore Road, Parkland County, AB 9.09 acres of lakefront land zoned CR (Country Residential District) 142.84 acres of AG zoned land One of Alberta’s most popular lakes Sold for $1,600,000

12719 Stony Plain Road, Edmonton, AB 2.05 acres of residential infill land, superb location in the highly sought after, and prestigious neighbourhood of Groat Estates.

Sold for $2,500,000

Ken Shebib, CCIM MOB DIR

+1 780 863 7355 +1 780 881 6297

ken.shebib@colliers.com

Mark Swaenepoel

Rick Argue

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

DIR +1 780 969 2997 rick.argue@colliers.com

B23

WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com

REGIONAL ROUNDUP North Battleford pushes commercial development as northern oil plays fire up

/PSUIFSO GSPOU WI STAFF WESTERN INVESTOR hen Sierra Properties of Calgary went looking for residential opportunities in Saskatchewan, North Battleford likely appeared an obvious choice.

With a growing population, a near-zero rental vacancy rate and the potential of an oil and gas boom, the northwest Saskatchewan city of 13,000 also has a shortage of housing and a tax exemption for developers.

In fact, when Sierra receives permits this month for a 43-lot subdivision, it will be the first private residential developer in years to break ground in North Battleford, according to the cityâ&#x20AC;&#x2122;s director of economic development.

Sierraâ&#x20AC;&#x2122;s project, in the established Kildeer Park area, will likely be dominated by groundlevel townhouses, said Dennis Levertu, who said primary demand in North Battleford is for new homes priced in the $200,000 range. â&#x20AC;&#x153;New detached houses sell for $280,000 or more,â&#x20AC;? he said.

Sierraâ&#x20AC;&#x2122;s move follows the release of residential lots by the city, a new 21-unit condo project and the conversion of a downtown commercial building into rental housing.

Last year the city posted a record $47.9 million in building permits, but this has been overshadowed with a $70.3 billion surge in permits through the first 10 months of this year.

For years, North Battleford has battled with a rental vacancy rate of around 1.2 per cent, one of the lowest in Canada, due to ongoing demand from construction workers. â&#x20AC;&#x153;We think the vacancy rate may rise a bit now that some of the big [construction] projects are finishing,â&#x20AC;? Levertu said. These industrial projects, however, will also begin a new round of longer-term employment, which brightens

Photos: City of North Battleford

8

(TOP) North Battleford is one of the fastest-growing cities in Saskatchewan. (TOP RIGHT) SaskPowerâ&#x20AC;&#x2122;s North Battleford Energy Centre under construction. (RIGHT) Cueplex, a private- and public-sector multiplex, will be complete within a year.

companies are working in the area and North Battleford is positioned for exponential growth in the coming years,â&#x20AC;? Levertu said.

North Battleford is scrambling to meet that demand. The city has earmarked about $3 million to develop a new 14-acre industrial park, where it expects to sell serviced lots for around $150,000 per acre. As of October, $51 million in industrial construction permits have been issued, five times higher than in all of 2010.

North Battleford is home to a large business base including well-established industrial companies such as Maple Leaf Consumer Foods (the only bacon-processing plant in Western Canada), Mifab Mfg, G & C Asphalt, Kindersley Transport, EnviroSafe 0JM QMBZT Chemicals, Anderson Pumphouse and Unicon Pipeline. As well, all the major grainBut electricity is not the only power lighting *OEVTUSJBM TUSBUFHZ â&#x20AC;&#x153;The industrial development strategy contin- handling companies operate inland terminals North Battlefordâ&#x20AC;&#x2122;s future.

Recently, Allstar Energy Ltd., a subsidiary ues to fuel successful job and development that support the grain industry in the area. of 49 North Resources Inc., has begun explora- growth. More and more resource development Please see Incentives page B24

the small cityâ&#x20AC;&#x2122;s economic horizon.

These include the completion of the $250 million SaskPower natural-gas power-generator project, the $12.6 million Canadian Feed Technology Research Facility by Cargill Ltd. and the University of Saskatchewan, and â&#x20AC;&#x201C; the cityâ&#x20AC;&#x2122;s jewel â&#x20AC;&#x201C; the four-building, $55 million Cueplex, a large multi-purpose, community and recreation centre that will be fully complete next year. Underway is a second project from SaskPower, the gas-powered North Battleford Energy Centre that will generate enough electricity to power the equivalent of 260,000 homes in Saskatchewan. The plant will fire up in 2013.

tion and drilling for heavy oil in fields just south of the city, while oil company Ralleymount Energy Inc. is working on 65 sections of land just north of North Battleford.

North Battleford has enormous potential in the oil and gas industry, according to Tom MacNeill, CEO of 49 North Resources, who predicts the area will see a â&#x20AC;&#x153;tidal wave of moneyâ&#x20AC;? rolling into over the next few years, It has already spurred the movement of some major players into North Battleford. This October, Gritt Industries, a supplier to the oil and gas industry, relocated its headquarters from Lloydminster to North Battleford, taking up a 91,000-square-foot building in Pearson Industrial Park.

"MCFSUB 4BTLBUDIFXBO

INDUSTRIAL SPACE - For Sale or Lease FORT MCMURRAY - Taiga Nova Industrial Park 13,000 to 52,000 (Square Feet)

Fall G N I 75% PEND 2011 â&#x20AC;˘ 4.44 Acre Site â&#x20AC;˘ Lease or Purchase Options â&#x20AC;˘ Experienced Developer & General Contractor â&#x20AC;˘ LARGE Rear Yard!

$BMM .JLF (FPSHF PS #JMM 4DIPFNBLFS

INDUSTRIAL BUILDING FOR LEASE 3927 Wanuskewin Road, Saskatoon, SK Land Size: 4.74 acres Building Size: 36,000 sq. ft. (240â&#x20AC;&#x2122; x 150â&#x20AC;&#x2122;) Available for Lease: 8,000 - 36,000 sq. ft.

Lease Rate: $11.00 per sq. ft.

Contact: David Kerr & John Kachur

â&#x20AC;˘ 30' High Buildings

www.property-solutions.ca

INVESTMENT OPPORTUNITY FOR SALE 1201- 101st Street, North Battleford, SK Annual Net Income: $72,000 Cap Rate: 8.47% Sale Price: $850,000 Contact: Ken Kreutzwieser

ICR Commercial Real Estate icrsaskatoon.com ME

NT

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LEASING: STRIP & FREESTAND PADS Frontier Crossing, North Battleford, SK Land Size: 8.89 acres Available for Lease: 1,500 - 30,000 sq.ft.

Located adjacent to Frontier Mall and Wal Mart Lease Rate: market Contact: Ron Ritchie & Davin Heiser

INVESTMENT OPPORTUNITY 105 WAKOOMA STREET, SASKATOON, SK Land Size: 0.71 Acres or 30,928 sq. ft.

Building Size: 1,144 sq. ft. (approx.)

Sale Price: $580,000 Contact: John Kachur

'RZQWRZQ RIĂ&#x20AC;FH 1RUWK RIĂ&#x20AC;FH

â&#x20AC;&#x153;Saskatchewanâ&#x20AC;&#x2122;s largest commercial real estate companyâ&#x20AC;?

B24 Saskatchewan

SASKATOON APARTMENTS 9:A E:I:GH G:6AIN

www.westerninvestor.com DECEMBER 2011WESTERN INVESTOR

AWESOME SASKATCHEWAN! Elbow- 134 acres Prime Development Land Parcel is currently zoned agricultural. Village will allow for commercial and acreage lots through application. Land is located on the east edge of village along highway. Village has recently opened up new residential lots with building going on. Elbow is home to one of the finest golf courses and huge deep water marina on Lake Diefenbaker; within driving distance to Saskatchewan's two largest cities. 145km to Saskatoon and 190 km to Regina. Asking $675,000 MLS.

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BUSINESS & LAND

Garry Hupaelo 306-221-7190 Norland Realty

ghupaelo@sutton.com 3020 Arlington Ave, Saskatoon

SASKATOON INDUSTRIAL /OFFICE LEASE SPACE

FOR SALE

Maple Creek, SK Furniture store, established, profitable 11 years in business. Fantastic reputation. Located in Historic building.

Call 306.662.3612

New space 2500s.f., includes 12' grade door, 22' ceiling, sump pit, 90' fenced compound. $12.00 nnn. Call today.

www.weswoodopportunity.com

Warren Kinnee 306-261-7717

KINDERSLEY

lake property

SASKATCHEWAN

auctions SATURDAY JULY 7, 2012

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*/$&/5*7&4 from B23 3FUBJM QVTI

But the real push and potential in North Battleford may be in commercial real estate.

At least two hotel developers are scouting sites in the city and development permits for retail have soared to $11 million dollars in the first 10 months of this year, already surpassing all of last year when $7 million in commercial permits were issued.

A retail leader this year is the 200,000-squarefoot Frontier Mall on the Yellowhead Highway, recently bought by Terracap Management Inc. of Toronto, where five new major franchises – including SportChek – have opened or are about to open. Frontier is also the site of the Gold Eagle Casino and the future site of a new 112-suite hotel.

The city, the largest landholder, has released more land for retail and office projects, with per-square-foot prices from $5.50 to $10, depending on the location. Top rates for new retail leases in the city are in the range of $18 to $25 per square foot. North Battleford is a regional shopping and service centre, with a catchment of approximately 62,000 people across the northwest.

Still – this is Saskatchewan – public payrolls that provide North Battleford’s economic base.

Health care and community services are the main employer, with 17 per cent of the workforce, with education making up a further 9 per cent.

INDUSTRIAL BUILDING Excellent ownership opportunity-16,825 sq ft Industrial/Warehouse/Office Building zoned M2.

Solid tenants and good leases in place. Some space available for Owner Landlord. 2.31 Acres with another 3 acres close by available for expansion.

Excellent investment property in the heart of Oil and Gas country. $200,000 + rental income. $1.4 million. MLS® #411737.

ROADHOUSE BAR & GRILL just 25 Minutes west of Kindersley in the heart of the Oil patch. Excellent opportunity to grow a food and beverage business which already has a steady clientele. The bar has 2385 sq ft with seating capacity of 93. The restaurant has 782 sq ft and can seat 46. Great atmosphere for a Country style bar with band area and dance floor. You own the land and building!! Take the time to come and have a look at this operation and see the potential. No financials available. $85,100. Have a look at the pictures. MLS® #409222

Call

BIll Larocque

FRIDAY JULY 13, 2012 #30 PELICAN POINT - MURRAY LAKE Gorgeous Pelican Point Beachfront property on Murray Lake featuring beautiful 3 bedroom cabin or year-round home recently constructed (1998). Also features 2x6 construction, firm sandy beach, landscaped with many plants, trees & shrubs and perfect view of Murray Lake.

Paved access to the door.

Watch for further details or for more information contact Ed Truelove at 445-5000

1.800.529.9958

306-463-1766 Wheat Country Realty #1 West Rd., Kindersley, SK

wlarocque@royallepage.ca

SK Provincial Licence #914618

marketing your franchise?

Call Christine at the

1-800-661-6988 • (604) 608-5110 • ccampbell@biv.com

SASKATCHEWAN

4

1

Saskatoon Biggar

14

/PSUI #BUUMFGPSE 4, Population 13,500 Building permits (Jan.-Sept. ‘11) $70.1 million Average house price $200,000 Acre, industrial land $150,000 Major employers Government, retail, agriculture

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All this puts a demand on housing in North Battleford, and the city has taken advantage of a provincial program to offer help for home buyers. Buyers of new homes can qualified for a $5,000 grant toward their down payment.

As well, developers can receive a two-year tax exemption for new residential construction in North Battleford.◆

GRAIN LAND INVESTMENT OPPORTUNITIES 25% DOWN BALANCE MORTGAGE (OAC)

Call today for your opportunity

25 BIRCH DRIVE - INDIAN POINT TURTLE LAKE Very attractive waterfront property on Indian Point at Turtle Lake, SK. Recently constructed (2004) home for year-round enjoyment of this beautiful location.

✪ NORTH BATTLEFORD

RE/MAX Saskatoon

Ed Bobiash

Farm & Acreage Specialist 306-222-7770 s ed@edbobiash.com www.SaskLand4Sale.com

Petrofka Bridge Orchard MLS® 410521 Acreage and Business opportunity 55 kms north of Saskatoon. On the North Saskatchewan River. Progressive apple orchard on 35 acres at the Petrofka Bridge.

Commercial building with walk in freezer, refrigerator, processing room and retail area.

1996 bungalow 4 bedrooms, 3 bathrooms. $849,900 Shell Lake Gravel Land MLS® 399171 Investment opportunity. 136.94 acres just west of Shell Lake with gravel reserves.

Seller has exposed aggregate for visual inspection. Seller has hired Resource Management International and buyers have access to a Electromagnetic Conductivity EM31 report. $1,199,000 SE Perimeter Investment MLS® 401141 160 acres for investment opportunity SE corner of Saskatoon 1 mile from city limits. New perimeter highway will border SE corner of the land. Major urban development close to this land. $2,200,000 Sterling Development Land MLS® Investment development opportunity 8 km east of Saskatoon 0.8 km south of Highway 5. Close to University, Innovation Place, Research Park and Canadian Light Source research facility. In close proximity to existing vibrant development area and adjacent to land recently approved for major acreage development. $889,900

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DONE DEALS DONE DEALS

editorial feature will highlight deal flow in Western Canada.

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Please forward this information directly to Frank O’Brien, Western Investor Editor at wieditor@biv.com.

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Manitoba B25

WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com

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Retailers buckle into air terminal

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Winnipeg and Brandon.

The idea, according to MLCC spokeswoman, Diana Soroka, is to put outlets in “underserviced” neighbourhoods, particularly in the northeast and southwest parts of Winnipeg.

The new concept stores, which should be between 600 and 1,500 square feet in size, will be fully enclosed within their own four walls in the grocery store.

While they will offer a range of wine, spirits and beer, they won’t have the same breadth of product that full-service stores do, Soroka said.

Canada Safeway said it would respond to the MLCC’s request for proposal. Safeway spokesman John Graham said while it would be interested in having liquor offerings in a number of its stores, the MLCC stipulation that no express mart be located within two kilometres of a full-service location rules out many of its outlets right off the hop.

“We operate a number of liquor stores in Alberta and have seen the convenience of adding additional services in grocery stores, such as a bank, coffee shop and pharmacy,” he said.

our new retailers have set up shop in perhaps the most secure area in Manitoba – the air-side of Winnipeg’s new terminal building.

Upper Crust sandwich shop, Asian eatery Red Wok, PGA Tour golf store and a pair of T.G.I. Friday’s restaurants – one for Canadian departures, the other for U.S.-bound passengers – have christened their inaugural locations at James Armstrong Richardson International Airport on the air-side of the security check points.

Christine Alongi, spokeswoman for the Winnipeg Airports Authority (WAA), said research has shown today’s passengers are increasingly ignoring retailers on the public sides of airports because their priority is getting through security so they can relax before their flights.

The quartet of retailers will target the 3.5 million people who fly out of Winnipeg each year, a number that is expected to hit 5 million in the next 10 to 15 years, according to he City of Winnipeg has hit a redevelWAA projections. opment hole-in-one.

A spokesman for U.S.-based T.G.I. Friday’s Looking to get out of the golf course busisaid if the two airport locations are successness, the city has signed an agreement with ful, it will definitely consider opening outlets Quebec-based Nordik Spa-Nature to open up in other parts of Winnipeg. its Finnish spa concept at the Crescent Drive Golf Course in south Winnipeg.

The $7 million year-round facility will feature dry saunas, cold waterfalls and temperate pools, steam baths, outdoor hot baths, outdoor fireplaces and relaxation areas.

Scheduled to open in late 2012, the spa won’t target the high-end client that tends litre of milk, a loaf of bread, a stick of to frequent such locations. Instead, with a butter and a bottle of tequila. $45-per-day fee, its goal is to make the spa For the first time in Manitoba history, the experience available to just about everyone, items on this shopping list will be able to be said Martin Paquette, Nordik’s CEO. purchased at a grocery store starting next Golfers need not worry that the nine-hole spring.

The Manitoba Liquor Control Commission course will shut down. Instead, Nordik will build a new clubhouse for them – the old (MLCC) plans to open an unspecified number one has already been demolished – and will of liquor “express marts” in grocery stores in

City golf course tees investor

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ith the ribbon-cutting of the biggest construction project in Winnipeg’s history now in his rear-view mirror, Barry Rempel isn’t going to sit around and watch the paint dry.

The president and CEO of the Winnipeg Airports Authority said the opening of the new, nearly $600 million air terminal building at the James Armstrong Richardson International Airport not only represents Expanded James Armstrong Richardson a new front door to the Manitoba capital, International attracts GE Canada. it’s shaping up to be an important economic catalyst, too.

GE Canada is preparing to open a new $50 million engine-testing facility between the airport’s two runways in January and Rempel is confident other industry players won’t be far behind.

He said companies that work with hydraulic valves, engine parts and turbines will want to form a cluster with GE as the focal point.

And with more than 20,000 people working at the airport in one capacity or another, he said the demand is there to add other services to the airport campus.

The GE plant will reportedly be able to handle engines with 150,000 pounds-feet of thrust and 15-feet-in-diameter engines.

“There’s no such animal today,” Rempel said.

Photo: Winnipeg Airports Authority

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items featuring the old logos has ceased and only goods featuring the newly-launched logos of the new team will be produced.

“We believe the focus in the market needs to be on the new logo for the next period of time,” said Scott Brown, director of communications for the Jets.

True North purchased the logos from the NHL, which had owned them since the original Jets moved to Arizona to become the Phoenix Coyotes in 1996, for an undisclosed sum.

It is widely expected that the Jets will relaunch items featuring the old logo once the new one has been firmly established in the marketplace. erhaps the most popular retro logo in The old logos were extremely popular with National Hockey League (NHL) history Winnipeggers and other hockey fans after is being retired – for now. the original Jets left town and flew off the True North Sports & Entertainment, owner of the new Winnipeg Jets hockey fran- shelves for several months after True North announced in May that it had purchased the chise, has purchased the trademarks for its predecessor’s logos of the 1970s, ’80s and ’90s. Atlanta Thrashers and was moving the team to Winnipeg.◆ Local retailers say they’ve been told the production of T-shirts, jerseys, hats and other – Compiled by Geoff Kirbyson

service hungry golfers with the same kitchen that takes care of spa-goers.

Earlier this fall, the city put out an expression of interest to see if anybody was interested in buying seven of its golf courses for commercial or residential development or to assume their long-term lease. That move came after auditors discovered the city-owned courses were deep in debt.

Liquor added to grocery outlets

Old Jets logo mothballed

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B26 www.westerninvestor.com DECEMBER 2011WESTERN INVESTOR SPOTLIGHT Military expansion, McCains plant put growth pressure on â&#x20AC;&#x153;bursting at the seamsâ&#x20AC;? Carberry

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WESTERN INVESTOR

Population 1,550 Average house price $160,000 Major employers Canadian Military; McCains Foods Potential Military expansion, residential development

he Town of Carberry might be small in size but itâ&#x20AC;&#x2122;s got a big growth problem. The southwestern Manitoba community of about 1,550 is bursting at the seams, thanks primarily to strong housing demand from military families at the nearby base in Shilo and significant migration from others parts of the province, and Carberry trying to find homes for newcomeven from across the Atlantic Ocean. ers.

Photo: Town of Carberry

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â&#x20AC;&#x153;I donâ&#x20AC;&#x2122;t think the town has one lot left thatâ&#x20AC;&#x2122;s big enough to build on. People donâ&#x20AC;&#x2122;t want a 50-foot lot; you canâ&#x20AC;&#x2122;t sell them. They want bigger frontage,â&#x20AC;? said Wayne Blair, Carberryâ&#x20AC;&#x2122;s mayor.

Compounding the problem in Carberry, and countless other small towns, Blair said, is that it suffers from a lack of affordable housing, too.

The challenge, then, is to develop new subdivisions as quickly as possible to keep potential residents and even some current ones from seeking more spacious pastures in other communities.

One developer has sold out all 17 of the lots

he had available. That might not seem like much in some centres but in Carberry, thatâ&#x20AC;&#x2122;s an unqualified boom. One house in the development has been completed and a family has just moved in, six more houses are going up and the rest of the lots are expected to see building activity shortly.

Tricia Zander, economic development officer for Carberry, located about an hour east of Brandon and about 90 minutes west of Winnipeg, described it as â&#x20AC;&#x153;a good family town with good schools and a couple of stores.â&#x20AC;?

It isnâ&#x20AC;&#x2122;t big enough to warrant attention from

national retailers but itâ&#x20AC;&#x2122;s got a grocery store, a coffee shop and a denturist and town officials are optimistic a physiotherapist, an optometrist and a small-animal veterinarian will follow in the short term.

It is, however, home to a McCains Foods potato-processing plant, the biggest employer in town.

Zander said sheâ&#x20AC;&#x2122;s also hopeful an upgrade will be forthcoming to Carberryâ&#x20AC;&#x2122;s recreation centre, which she added is â&#x20AC;&#x153;workable but old.â&#x20AC;?

Thereâ&#x20AC;&#x2122;s also an outdoor pool, a bowling alley, a hockey rink and curling sheet in town and a short distance away is Spruce Woods Provincial Park.

Blair said Carberry has sent economic recruiting officials to communities around

the province, including Thompson, and the work has paid off. This year, 46 new people moved into town, including a number from Germany.

The influx is reverberating in the local real estate market. The average house in Carberry is an 1,100-square-foot, three-bedroom bungalow that sells for about $160,000. Thatâ&#x20AC;&#x2122;s up 5 to 10 per cent from a year ago, according to Les Watts, a realtor and partner in Royal LePage McPhail Agencies.

He attributes much of the price appreciation to demand from people in Shilo, located about 15 minutes down the highway.

The pressure on the housing market should increase further in the short term when the Spirit Sands Casino opens up about 20 kilometres to the south on Swan Lake First Nation land. Watts says between the gaming and a trio of restaurants, itâ&#x20AC;&#x2122;s expected to employ between 200 and 300 people. â&#x20AC;&#x153;Our housing prices are still lower than Brandon,â&#x20AC;? he said. â&#x20AC;&#x153;Thatâ&#x20AC;&#x2122;s mainly due to the lo prices; our lot prices are considerably lower.â&#x20AC;?

The number of serviceable lots available, however, is almost non-existent. â&#x20AC;&#x153;It would be tough to have anything available for at least a year. If you really want to build, you have to buy something older and tear it down,â&#x20AC;? he said.â&#x2014;&#x2020;

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REPORT: ICI Outlook 2012 Office markets Investing 101: Finding property Franchise News Lifestyle Properties REGIONAL ROUNDUPS BC: North Vancouver AB: Painted Earth MB: Winnipeg SPOTLIGHT: Yorkton, SK

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Franchises B27

WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com

Games2U makes Canadian play

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Photo: Games2U

.S.-based mobile entertainment provider Games2U, Inc. has expanded into Canada. The mobile entertainment franchise brings interactive games Games2U rolls into to events such as Canada. birthday parties or fundraisers. At the November Vancouver Franchise Show, and undoubtedly with the help of its giant hamster ball and Booger Wars displays, the Games2U team seemed highly optimistic about opening franchises in the Lower Mainland in early 2012.

A typical Games2U event setup includes a custom-designed equipment truck and a video game theatre with multiple 50-inch flat screens featuring Wii, Xbox, and PlayStation for up to 24 people to play simultaneously.

There are also giant hamster balls that hold a passengers inside and other interactive games and toys.

The company’s expansion north is a result of “consumer demand and a tremendous number of requests from entrepreneurs to join the Games2U family,” said Games2U CEO and cofounder Stu Pikoff. “As the number 1 company in our space, with over 25,000 events every year in the United States, we’re excited to bring our unique brand of fun and games to our neighbours up north.”

Founded in 2007, Games2U currently has over 146 franchise territories operating in the United States and Puerto Rico. Each franchise creates custom-made events featuring patented video games, equipment and entertainment.

A Games2U franchise requires a total investment of from $90,000 to $225,000, including an initial franchise fee of $35,000.

Spicy Pickle picks Calgary

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wo-time most valuable player basketball star Steve Nash has scored a franchise hat trick outside of his on-court performance with the Phoenix Suns.

Nash, a partner in Liquid Nutrition Group Inc. (LNG), reports that the beverage and snack franchise has sold out all 20 of its B.C. franchises. The NBA star Steve Nash (centre) opens Liquid Nutrition tradstores are expected to open ing on the Toronto Stock Exchange. soon in major cities across the province including Vancouver, Kelowna, Whistler and Victoria.

Another 10 stores are expected to open in Metropolitan Toronto this year with plans to expand to 35 markets across Canada, including Ottawa and Oakville, Ontario; Atlantic Canada; and Montreal. Expansion into Calgary is also possible.

Nash also helped to successfully launch LNG onto the Toronto Stock Exchange in September and scored his third win by blending Liquid Nitrogen into his chain of Steve Nash Sports Clubs.

“As a native of B.C., I am proud to announce that we are bringing Liquid Nutrition stores to our great province,” said Nash. “I don’t always have time to fix a gourmet meal at home, so with Liquid Nutrition, I can get all the nutrients my body needs in a cup. “ He added in a smooth pitch reminiscent of his passing plays: “Perfect for my lifestyle ... perfect for any lifestyle.”

Glen Young, LNG president, said the company has started tapping into major markets in Canada, U.S. and around the globe.

“The interest has been extremely positive to date. People believe in our vision and our products and, simply put, they want to get involved. We received franchise requests from interested parties in as far away as the Middle East and Asia,” he said.

Steve Nash Sports Clubs will be the first to offer a countertop Liquid Nutrition kiosk, with construction to commence early in December in Nash’s hometown of Vancouver. Liquid Nutrition and FWG Acquisition, part of the New Evolution Fitness Co., have agreed to the trial opening.

Franchising Corp. is currently the franchisor of six Liquid Nutrition Group stores in Montreal, with franchise commitments and expansion opportunities throughout Canada and the United States, as well as licence opportunities internationally.

No information on Liquid Nitrogen total franchise costs, initial franchise fees or any advertising and royalty fees were made available, despite Western Investor requests to the marketing department of Liquid Nitrogen.

enver-based fast-casual franchising company Spicy Pickle has announced today that it is expanding its brand to Canada. The company stated that it has entered into a franchise agreement for the development of the first Canadian Spicy Pickle restaurant in Calgary. The restaurant is expected to open in the summer of 2012, representing the beginning of the brand’s expansion plans across the country.

Jeff Branton, vice-president and general manager for the company’s Canadian operations, including its BG Urban(SM) cafés and grills, said, “Given Canada’s strong economy, and in Calgary in particular, this is a great market in which to launch Spicy Pickle in Canada, and it will complement our BG Urban brand operations nicely. Being that we are a Canadian company with our BG Urban cafés and grills already in British Columbia, we have the infrastructure to support and grow both our brands here, so adding Spicy Pickle was a natural move.”

The company, which operates its separate BG Urban restaurant brand in Western Canada, already has 12 BG Urban cafés and grills in and around Vancouver, Ian Boyd, the Calgary franchisee for Spicy Pickle, said, “I expect the brand to be huge here, and I’m just excited to be the one to introduce it to Canada. I have no doubt that the people of Calgary are going to fall in love with Spicy Pickle.” Branton, who has worked announce its Calgary location soon. closely with Boyd through his application A Spicy Pickle franchise requires a total process, said they are presently pursuing investment of approximately $272,555 to a site for the new restaurant and hope to $515,700, depending on the size and loca-

Photo: Liquid Nutrition Group Inc.

News, views and updates on Canada’s franchise industry

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tion. There is an initial franchise fee of from $15,000 to $30,000. Typically, a Spicy Pickle restaurant is around 2,000 square feet.◆ – Compiled by Kevan O’Brien

Own Your Own Country Existing Franchise Available – Golden, B.C. abc Country Restaurants has 40 years of family dining experience. If you like the idea of being up front in your own restaurant, backed by a strong corporate team, abc is the high profile brand for you. Our restaurants serving Country Comfort for Breakfast, Lunch, Dinner & Dessert - many with profitable meeting rooms - dot the BC and Alberta landscape. We are looking for good franchisees and welcome your inquiry. s 3ITE 3ELECTION $ESIGN s 4RAINING /PERATIONS 3UPPORT s -ENU $EVELOPMENT s -ARKETING s ,EASE .EGOTIATIONS )NVESTMENT RANGE FOR NEW LOCATIONS

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FRANCHISE WITH EXPERIENCE A franchise partnership with DQ®, a Berkshire Hathaway Company, enables you to enjoy the benefits of a well-established family of concepts such as: UÊÈä³ÊÞi>ÀÃÊ vÊvÀ> V à }ÊiÝ«iÀ i Vi UÊ-ÌÀ }ÊLÀ> `ÊÀiV } Ì UÊ-ÕLÃÌ> Ì > Ê«ÕÀV >à }ÊÃÌÀi }Ì Ê> `Ê>`ÛiÀÌ Ã }Ê« ÜiÀ UÊ ÝVi«Ì > ÊvÀ> V ÃiÊÃÕ«« ÀÌÊÃiÀÛ ViÃ

Gordon Beattie, President (604) 583-2919 local 22 abc Country Restaurants Inc. 15373 Fraser Hwy. Surrey, BC V3R 3P3 email: info@abcCountry.ca www.abcCountry.ca

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B28

www.westerninvestor.com DECEMBER 2011 WESTERN INVESTOR