Western Investor June 2011 Section A

Page 1

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

QUALITY RESORT HOTEL IN KAMLOOPS AREA, B.C. s /WNER WILL HELP lNANCE s ,OTS OF UPSIDE POTENTIAL LAND s $6M n OF REPLACEMENT VALUE LOOKING FOR HOTELS/MOTELS IN LOWER MAINLAND s (AVE "UYERS

JUST LISTED 2.11 ACRES BROOKSWOOD / FERNRIDGE OCP

s -OSTLY BEDROOMS s /NLY YEARS OLD WITH FANTASTIC OCEAN VIEWS FROM NEARLY EVERY SUITE s &OR MORE DETAILS VISIT www.naiapartments.ca OR CALL 604 683 7535

TERRY HARDING 604-683-7535 KEN KIERS JACKSON TANGOR KEN HICK

ALFRED LEUNG 604-534-7974 CHRIS LANGHAUG

KEN KIERS or 604-534-7974 KEN HICK kiers@naicommercial.ca

HOT PRICE s 5NIT 4OWNHOUSE 3ITE s !C 2 - & ZONING s 3ERVICES AT STREET s Asking $699,000

11.4 ACRES DEV. LAND ADJACENT TO WAL-MART MINI STORAGE ON 1 ACRE PARCEL

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

POTENTIAL DEVELOPMENT s 2.7 acres, Langley s Bordering major development s Yorkson OCP s Asking $2,565,000

MERRITT, BC OPPORTUNITIES

s /#0 SHOWS FUTURE 3 & DEVELOPMENT s 2ARE CORNER SITE FT FRTG ON TH s 'OOD HOLDING INCOME FROM BDRM HOME s Asking $1.299 Mil Bring Offers

CAMPBELL HEIGHTS

INDUSTRIAL LAND – AGASSIZ s 11 acres – 3 titles (Can be purchased separately) s M-2 Heavy Industrial s 5 acres paved s Asking $3,299,000

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

s 6ENDOR MAY CARRY WITH DOWN s .OW ONLY $3.39 Mil K AC

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

3 LIGHT INDUSTRIAL LOTS

FOR LEASE 8,459 SQ. FT. SHOWROOM & W/H s $5.50 s.f. plus $2.50 s.f. T.N.

s ACRES EACH Amazing price $69,900 ea.

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

INVESTMENT PROPERTIES FOR SALE LANGLEY AREA COURT ORDERED SALE ABBOTSFORD FREE STANDING BUILDING

LANGLEY - FOR LEASE VACANT EX-SPORTS COMPLEX

INDUSTRIAL FREESTANDING BUILDING

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

s SQ FT 7AREHOUSE /FlCE s !CRES 0AVED LOT s &INISHED OFlCE WITH MEZZANINE s (EAVY 0OWER &ENCED SECURE hEXTRAv YARD RARE s $2,475,000

VANCOUVER • LOWER MAINLAND • VANCOUVER ISLAND SECTION

$4.29 JUNE 2011 Vol. 26/Issue 6

15 POP GOES THE RETAILERS

“Ghost� stores haunt competing storefronts

â–˛

MICK MATHEUSIK, M.Sc. 604-691-6656 mick@naicommercial.ca

42-SUITE PORT MOODY APARTMENT BUILDING

Luke Harrison, retail manager at the mixed-use Rize in East Vancouver: rotating “pop-up� space offered free

9 HOTELS START TO SELL

B.C. leads national sales uptick after 2-year slide 13 YUPPIES MEET CAMPING

Younger RV owners roll for Wi-Fi hook-ups, high-end amenities and strata-sale campsites SPECIAL SECTION • B13

HOT PROPERTIES

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

PUBLICATIONS MAIL AGREEMENT 40069240

s SQ FT PAVED AND FENCED YARD s SQ FT BUILDING s :ONED # n #OMMERCIAL s #LOSE TO 53! "ORDER s $550,000

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

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

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

INVEST IN WASHINGTON STATE Apartment buildings - Self-storage facilities - Mobile Home Parks Good cap rates - Some seller ďŹ nancing Call Mike, your Washington buyer’s advocate, 1-360-366-3357 or visit me at my Ferndale ofďŹ ce to discuss opportunities.

A2 Lower Mainland 200,000 SF INDUSTRIAL FACILITY, RICHMOND

www.westerninvestor.com JUNE 2011WESTERN INVESTOR

FOR SALE 37 ROOM MOTEL

FOR SALE/LEASEBACK INVESTMANT OPPORTUNITY

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RANDY SWANT * SEAN UNGEMACH*

BRETT AURA DON DUNCAN

*PERSONAL REAL ESTATE CORP.

FOR SALE - WATERFRONT RESTAURANT, PUB & LODGE

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MATTHEW MACLEAN BRETT AURA

HIGH VISIBILILTY INVESTMENT OPPORTUNITY

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BILL RANDALL* RICK EASTMAN*

*PERSONAL REAL ESTATE CORP.

FOR SALE: BRAND NEW STRATA BUILDING

PERSONAL REAL ESTATE CORP.

FOR SALE - SALT SPRING ISLAND RESORT

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MARK TREPP* BOE IRAVANI *PERSONAL REAL ESTATE CORP.

DEVELOPMENT OPPORTUNITY

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BILL RANDALL / DON DUNCAN CHRIS DRIVER

t 8BMF 3PBE $PMXPPE #$ t TG TJUF TJ[F t 35 ;POJOH t "TLJOH

MARK GALLAGHER

PERSONAL REAL ESTATE CORP.

BRETT AURA

449 E. HASTINGS STREET, VANCOUVER

FOR SALE - KELOWNA STORAGE PARK

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KYLE WILSON *CRAIG HAZIZA

CHRIS J. NEWTON

DEVELOPMENT OPPORTUNITY WITH INCOME

FOR SALE - 9948 100TH STREET, FORT ST JOHN

FOR SALE - 15 LEGAL SUITE S. GRANVILLE APARTMENT

FOR SALE 4 ACRE MULTIFAMILY DEVELOPMENT SITE

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BILL RANDALL PERSONAL REAL ESTATE CORP.

LOT 6, SMITH CREEK ROAD, WEST KELOWNA

t 8FTU ,FMPXOB %FWFMPQNFOU 4JUF t "$3&4 XJUI TVCEJWJTJPO QMBO GPS FTUBUF MPUT t 4NJUI $SFFL CFUXFFO (MFOSPTB BOE 4IBOOPO -BLF t "TLJOH

CHRIS J. NEWTON MATTHEW MACLEAN

MULTIFAMILY DEVELOPMENT SITE

t #BJMFZ 4USFFU 4RVBNJTI #$ t VOJU PQQPSUVOJUZ t "DUJWF EFWFMPQNFOU QFSNJU

t 4UBSCVDLT 4VCXBZ -JRVPS 4UPSF t /0* t 1SJDF

BILL RANDALL PERSONAL REAL ESTATE CORP.

ERIC WALKER

FOR SALE-3 FULLY LEASED INDUSTRIAL BUILDING PORTFOLIO

FOR SALE HIGH EXPOSURE

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*CRAIG HAZIZA BOE IRAVANI

BART VANSTAALDUINEN PERSONAL REAL ESTATE CORP.

6629 KINGSWAY, BURNABY

t -POH UFSN UFOBOU DVSSFOUMZ UFOBOUFE CZ .S -VCF t (SFBU GSPOUBHF PO ,JOHTXBZ t "QQSPY DBQ PO FYJTUJOH JODPNF t 'VUVSF NVMUJGBNJMZ EFWFMPQNFOU TJUF

BILL RANDALL* NOAH FREEDMAN

PEMBERTON MULTIFAMILY SITES

t 8FMM MPDBUFE QSPQFSUJFT t 6Q UP BDSFT BWBJMBCMF t 1MBO BMMPXT VOJUT BOE TG PG DPNNFSDJBM t "TLJOH

BILL RANDALL

*CRAIG HAZIZA KYLE WILSON

PERSONAL REAL ESTATE CORP.

GROCERY ANCHORED SHOPPING CENTRE

SOLD - WILLOWBROOK BUSINESS PARK

*PERSONAL REAL ESTATE CORP.

COURT ORDERED SALE

FOR SALE MERRITT JUNCTION

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*SEAN UNGEMACH MICHAEL THOMPSON PERSONAL REAL ESTATE CORP.

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t 7FSZ )JHI FYQPTVSF TJUF t 7FEEFS 3PBE $IJMMJXBDL t BDSFT t )PMEJOH JODPNF PG ZFBS t "TLJOH QSJDF

BILL RANDALL

SENIORS HOUSING OPPORTUNITY

t 1JPOFFS 7JMMB $SFTUPO #$ t 7BDBOU TFOJPST IPVTJOH GBDJMJUZ t #VJMEJOH TJ[F BQQSPY TG t BDSFT t "TLJOH

MARK GALLAGHER

DEVELOPMENT OPPORTUNITY

t 1JOOBDMFT 3PBE 7FSOPO #$ t ± BDSFT t 1MBOT JO QMBDF GPS VOJUT t -PDBUFE BU 4JMWFS 4UBS .PVOUBJO 3FTPSU t "TLJOH

MARK GALLAGHER

MARK GALLAGHER

*CRAIG HAZIZA

HUDGE PARMAR

ADAM FRIZZELL

MIKE HARDY

RETAIL INVESTMENT OPPORTUNITY

FOR SALE - 2.7 ACRES OF INDUSTRIAL LAND

7.1 % RETURN

t /BOBJNP "UIMFUJD $MVC t BDSFFT t #FMPX NBSLFU SFOU t /0* BOOVBMMZ t "TLJOH

ERIC WALKER WILLIAM N. HOBBS

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HUDGE PARMAR PERSONAL REAL ESTATE CORP.

RECEIVERSHIP SALE BELOW ASSESSED VALUE

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*RICK EASTMAN KEVIN VOLZ

FOR SALE - WILLOW CALE ROAD, PRINCE GEORGE, BC

t TG PG JOEVTUSJBM CVJMEJOHT PO BDSFT t (SBEF BOE EPDL MFWFM MPBEJOH t -PUT PG ZBSE t "TLJOH

BILL RANDALL

PERSONAL REAL ESTATE CORP.

HIGH VISIBILITY INVESTMENT OPPORTUNITY

t 'VMM DJUZ CMPDL 1SJODF (FPSHF #$ t TG PO BDSFT t 5XP UFOBOUT t /FU JODPNF PG PWFS QFS ZFBS t "TLJOH

t 4NJUIFST .BMM 4NJUIFST #$ t "ODIPSFE CZ ;FMMFST BOE 4DPUJBCBOL t TG OFU SFOUBCMF BSFB t -BOE TJ[F BDSFT t "TLJOH DBQ SBUF

RICK EASTMAN BILL RANDALL

HUDGE PARMAR

PERSONAL REAL ESTATE CORP.

PERSONAL REAL ESTATE CORP.

SILVER CHALICE PUB HOPE, BC

RARE FREESTANDING 5 UNIT INDUSTRIAL BUILDING

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BILL RANDALL

t -PDBUFE DMPTF UP )8: )8: t ;POFE * BOE 4FSWJDFE t -PDBUFE JO "CCPUTGPSE # $ t "TLJOH

WILLIAM N. HOBBS

PERSONAL REAL ESTATE CORP.

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RICK EASTMAN

PERSONAL REAL ESTATE CORP.

PERSONAL REAL ESTATE CORP.

PERSONAL REAL ESTATE CORP.

t UI "WFOVF BOE UI 4USFFU JO -BOHMFZ #$ t BDSF CVJMEJOH CVTJOFTT QBSL t %JSFDU BDDFTT UP UI "WFOVF BOE UI 4USFFU JO -BOHMFZ t TUPSFZ DPODSFUF UJMU VQ DPOTUSVDUJPO WFSZ TUSPOH UFOBOU SPTUFS

PERSONAL REAL ESTATE CORP.

PERSONAL REAL ESTATE CORP.

RETAIL SHOPPING CENTRE INVESTMENT OPPORTUNITY

t 'SBTFS )JHIXBZ 4VSSFZ #$ t BDSFT PO 'SBTFS )JHIXBZ t TG TIPQQJOH DFOUSF t QTG t

DON DUNCAN / CHRIS DRIVER / BRETT AURA

PERSONAL REAL ESTATE CORP.

t 8PPE -BLF %FWFMPQNFOU 4JUF t %JTUSJDU PG -BLF $PVOUSZ #$ t BDSFT QMVT BDSF 8BUFS -PU -FBTF t "TLJOH

PERSONAL REAL ESTATE CORP.

12180 BRIDGEPORT ROAD

t t TG CVJMEJOH t BDSFT PG MBOE

CRAIG BALLANTYNE

PERSONAL REAL ESTATE CORP.

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

Moving with confidence

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

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, it is not g

uaranteed by Cushman & Wakefield. Kevin Meikle is licensed with K.H.M.Realty Ltd. and has a contractual relationship with Cushm

Sean Ungemach is licensed with SBU Realty Advisors Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. Martin

an & Wakefield Ltd. Bart Corbett is licensed with BG Corbett Realty Advisors Ltd. and has a contractual relationship with Cushman & Wakefield Ltd.

Delafontaine is licensed with Martin Delafontaine Realty Inc. and has a contractual relationship with Cushman & Wakefield Ltd. Craig Haziza is licensed with CAH Realty Inc. and has a contractual relationship with Cushman & Wakefield Ltd.

$0/5&/54 +6/& 7"/$067&3 Â… -08&3 ."*/-"/% Â… 7"/$067&3 *4-"/% 4&$5*0/

FEATURES 15 0/ 5)& $07&3 ¡1PQ VQT¢ TQPPL TPNF SFUBJMFST

On the cover Luke Harrisson, retail manager at the Rize in East Vancouver: pop-up retail space offered for free Photo: Richard Lam

41&$*"- 4&$5*0/ Â… #

HOT PROPERTIES

Short-term tenants compete with lease-laden neighbours

9

)PUFM BOE NPUFM TBMFT SFDPWFS GSPN TMJEF

Western Canada leads the nation as investors check in

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

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

13 /FX CSFFE PG 37 PXOFST USBOTGPSN DBNQJOH

Demand strata sites, Wi-Fi, higher-end amenities

2–21 -08&3 ."*/-"/% 3&"- &45"5&

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

8 4&37*$&4 22 4&" 50 4,: 46/4)*/& $0"45 3&(*0/

23 /PSUIXFTU QPXFS MJOF QMVHT JO NJOJOH

$400 million project could spin off billions of dollars

25 1SJODFUPO XFMDPNFT $PQQFS .PVOUBJO

22–27 7"/$067&3 *4-"/% 3&"- &45"5&

Return of big-scale mining drives real estate values higher

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

COLUMNS

.03& 0110356/*5*&4 ™

6 8&45&3/ 1&341&$5*7& 20 8)"5¤4 )"11&/*/( */ #3*5*4) $0-6.#*" 27 %0/& %&"-4 8)0 40-% 8)"5 '03 8)"5

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

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

FOR SALE LOCATED NEAR WISER LAKE

JUST LISTED!

Ideal location South of Lynden for this Commercial/Residential mixed use site on State Highway #539. Fits in very good for this 19 unit Condo/Strata Title use on second level above retail space. Great view of Mt. Baker. Excellent price for this site at $899,000.

Vacant restaurant for sale in Bellingham. High traffic on I-5 off ramp at a traffic signal. Located near shopping center and Western Washington University. Call for details.

For more information, call our office.

RON BENNETT COMMERCIAL REAL ESTATE Ron Bennett

SUTTON GROUP WEST COAST REALTY

(USN Ret.)

CALL

/ Owner - Broker

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

Don Munro

604-817-7338

COMMERCIAL / INDUSTRIAL LANGLEY 203-20771 Langley Bypass s SQ FT COMMERCIAL STRATA s &ULLY LEASED 27031 Fraser Highway s SQ FT LOT s :ONED # #OMMERICAL CHILLIWACK 44580 Yale Rd W. FOR LEASE s SQ FT BUILDING s !CRES s SQ FT OF FENCED COMPOUND 7730 OLD ORCHARD ROAD s SQ FT BUILDING s 4RANS#ANADA (WY %XPOSURE s 0OTENTIAL - - )NDUSTRIAL :ONING SURREY 11151 Bolivar Rd. & 13340 112 Ave s !CRES ON CORNER s :ONED #() (IGHWAY #OMMERCIAL 19518 32nd Avenue s !CRES IN #AMPBELL (EIGHTS s $ESIGNATED "USINESS /FlCE 0ARK

✓ VALUE FOR $

botsold@intergate.ca

ACREAGES CHILLIWACK 51140 Ruddock Road s !CREs s 0OTENTIAL FOR ,OTS 7640 Nixon Road s !CREs s "EAUTIFUL LOG HOME AND LARGE SHOP 700 Columbia Valley Road s !CRES s 0RIME &ARM ,AND SURREY 188th Street and 80th Avenue s !CRES s &UTURE 0OTENTIAL

26880 24th Avenue s !CRES OF 2OLLING &ARMLAND s "DRM &ARM (OUSE -OBILE ,ARGE /LDER "ARN s -UNICIPAL 7ATER 7ELL 7ATER s 0ROPERTY IS FENCED AND ACROSS THE ROAD FROM hTOWNv

24421 Fraser Highway s !CRES s 0OSSIBLE &UTURE 0OTENTIAL

48th Avenue & 216th Street s !CRES TWO PARCELS

27691 Downes Road s !CRES s 0OTENTIAL "ERRY ,AND s ,ARGE 3HOP "ARN

27449 60th Avenue s !CRE 0ARCEL s ,ARGE #OUNTRY (OME WITH (ELPER 3UITE s %ASY !CCESS TO 4RANS#ANADA (IGHWAY 27465 60th Avenue s ACRES s "EAUTIFUL LOG HOME s &ULLY FENCED YARD 27571 60th Avenue s !CRES s (OUSE AND -ODULAR (OME

✓ GOOD RETURN

LANGLEY

LANGLEY

✓ TENANT COVENANT

889 Lefeuvre Road s !CRE s ,ARGE -USHROOM &ARM s 3HOP #OMPOSTING &ACILITY s 'ROWING "ARN s -ULTI 5SE "UILDING

✓ UPSIDE

✓ CAREFREE

A4 Lower Mainland

www.westerninvestor.com JUNE 2011WESTERN INVESTOR

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

#$! ! !# "

411'7943 .,-<'=

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479- %'3)4:;+7 c 0# -02& &-0# 5 2#0$0-,2 - $'(% &+ '((')+,&"+0 c =L*-2 0# * ," 120 2 13 "'4'1'-, 0# "7 ') * )-" "& c -! 2#" ', #6!#**#,2 0#1'"#,2' * + 0)#2 -'" ' & . *"& $ %"$0 $'+* c -2#,2' * $-0 #6!*31'4# 1& 0#" "-!) ," . + ) ** c .#!2 !3* 0 1#22',% 5'2& # 32'$3* 4'#51 '- )$''#"& ,)) ) &$ +

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FOR SALE

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81,260 sq.ft. R&D 1521 WEST 4TH AVE

BUILDING AT UBC

Corner lot of 5,650 sq ft. Cash business included $2,619,000 3800 Wesbrook Mall provides an excellent environment that will support Call SANDI FRATINO 778-999-0005 and enhance the intellectual and social PRIME WESTSIDE development goals of companies involved in R&D. Laboratories, ofďŹ ces, teaching, INVESTMENT OPPORTUNITY 2094 West 43rd Avenue at East Blvd. training, and conference facilities, in support of research and development in a Kerrisdale, one of Vancouver’s oldest and number of key areas. $10,500,000 most afuent neighbourhoods. Call LARRY 604-787-7654

2 strata units 1,311 sq ft. Asking $910,000

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

3 strata units 3656 sq ft. Asking $2,500,000

7:34 .47;+394

$ # &

#

9- ;+3:3+

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May be purchased together - 5 strata units Great 5 year lease in place $3,388,000

This turnkey operation will appeal to chefs, caterers, schools and restaurateurs. Call SANDI FRATINO 778-999-0005 OR Call LARRY 604-787-7654 REID DEWSON 604-732-9944

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

VANCOUVER, VICTORIA, NANAIMO and SQUAMISH!

4:3*'7= !4'*

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FOR LEASE LUZON 1622 SQ FT CORNER SPACE 12th & Arbutus Call SANDI FRATINO OR KRIS POPE 604-689-8226

HOTELS, APARTMENT BUILDINGS and SITES in

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"/ ,* ) *" &+" $ '%% ) " $ ( )+% &+ ,"$ "& +

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UNIQUE PROPERTIES 479 +1843

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

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

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WESTCOAST REALTY

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Lower Mainland A5

WESTERN INVESTOR JUNE 2011 www.westerninvestor.com

APARTMENT BUILDING SPECIALIST NEW WESTMINSTER

PENTICTON

NEW WESTMINSTER

37 Unit Apartment Building 3 Penthouses, large decks Gross Income $296,456

75 Unit Apartment Building Close to Skaha Lake, Central location Gross Income $547,222

26 Units – Queens Park Penthouse, views, updates Gross Income $263,720

WEST END

LANGLEY

COURTENAY

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

9 residential – 2 commercial Gross Income $92,988 Cap Rate 6.5%

33 Units – Central location Tenant base is seniors Potential Cap Rate 7%

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

604.263.2823

RETAIL LEASE

LOT FOR SALE

RETAIL SALE

42 West 8th Avenue, Vancouver 8,531 sq ft three storey freestanding building Owner/user opportunity with income DOCK LEVEL LOADING DOORS s !MPLE PARKING

5550 Fraser Street, Vancouver SQ FT s 0RIME EXPOSURE LOCATION 6AST WINDOWS s 3ECURED ALARM SYSTEM On-site and off-site parking available

1186 Granville Street, Vancouver 3,000 sq ft development site &32 s Parking income

1632 West 4th Avenue, Vancouver +/–1,990 sq ft retail building 25’ frontage on West 4th 5SER INVESTOR OPPORTUNITY

Ryan Saunders, Mitch Ellis

Clare Stevens

James Bayley, Meghan Kennedy

James Bayley, Tom Bakker, Meghan Kennedy

STRATA RETAIL SALE

INDUSTRIAL SALE/LEASE

INDUSTRIAL SALE

INDUSTRIAL SALE

Fi rm

de al in

pl ac e

WAREHOUSE/OFFICE FOR SALE

1738 West 2nd Avenue, Vancouver 1,068 sq ft ground floor retail space 3PECTACULAR IMPROVEMENTS 5NDERGROUND PARKING s 6ACANT POSESSION

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

4090 Graveley, Burnaby 2,738 sq ft building on 10,245 sq ft lot Gilmore Avenue exposure Ample parking

140 Glacier Street, Coquitlam Rare high quality 23,100 sq ft facility on 1 acre GRADE LEVEL DOORS s .EW ROOF s &LOOR DRAINS (EAVY POWER s 5NITED "OULEVARD EXPOSURE

Conor Finucane, Howard Malchy

Steve Caldwell, Chris McIntyre

Steve Caldwell

Chris McIntyre, Steve Caldwell

INDUSTRIAL SALE

INDUSTRIAL LAND FOR SALE

INDUSTRIAL SALE

INDUSTRIAL SALE/LEASE

117 - 42 Fawcett Road, Coquitlam 2,770 sq ft office/warehouse CLEAR CEILING HEIGHT s 'LAZED OFFICE FRONTS One 12’ x 14’ drive-in loading door

1028 Eburne Place, Richmond 0.583 acre corner site in Mitchell Island Extensive frontage along Eburne Way and Eburne Place

2133 - 21320 Westminster Highway, Richmond SQ FT IN 'OLD 7ING "USINESS 0LAZA GRADE LEVEL DOOR s PARKING STALLS Approx 19 ft clear ceiling height

1171 - 11871 Horseshoe Way, Richmond 2,665 sq ft high quality warehouse/office unit with dock level loading Riverside Industrial Park

Steve Caldwell

Casey Bell, Anthony Lux

Casey Bell, Anthony Lux

Casey Bell

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

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

Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent veriďŹ cation. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 06/2011.

A6 Lower Mainland

www.westerninvestor.com JUNE 2011 WESTERN INVESTOR

/BUJWF QPXFS QSPUFTU OPU BO FBTZ EFDJTJPO he $400 million Northwest Transmission Line that is to run more than 300 kilometres north from Terrace B.C. will mean more than jobs and economic opportunity: it will bring electric power to villages and native reserves that have to rely on costly and polluting diesel generators. It means easier development of hospitals, schools and other northern services that can strive to meet modern standards. And it will also spark, literally, billions of dollars of mining development that could launch the northwest into the first tier of economic performance. But the power line, perhaps the best news for northern B.C. in decades, could now be stalled or even stopped because of a protest from local native bands. The small (900-member) Gitanyow native band and the Lax Kw’alaams bands say they will not support the BC Hydro line that must cross their territory. The former claims the dispute is over territorial integrity; the latter says it is because of a desire for long-term economic opportunities. We believe the stance of the local natives in regard to the power line are naïve and selfish. It will likely come down to money for

5

a select few. BC Hydro has offered a cash deal, plus training and employment for local natives. We don’t know how much money was offered but it was hyperbolically dismissed as “beads� by a Gitanyow spokesperson. The beads comment, of course, refers to trading more than 100 years ago, a time we doubt that many modern natives would gladly return to. If the power line were stopped, however, it would stunt the northern B.C. economy for years. Northern natives are in a precarious position, not wholly of their fault. Failures by government to ratify agreements decades ago now force the bands to fight hard, and often alone, against any and all concessions. Aside from the power line, there is also the $5 billion Enbridge Inc. pipeline, which a number of northern native bands are against, fearing (and perhaps rightfully so) both pipeline breaks and oil tanker traffic in the treacherous and shallow Hecate Strait. There is also the potential explosion of new mines as metal prices hit record high prices. All of this means unprecedented economic opportunities for natives and nonnatives alike. But there will also be a price to pay.

8&45&3/ 1&341&$5*7&

It is not easy for native leaders, but it is coming down to crunch time. Northern resources are now on the radar of not only the United States but also China, Japan and other Asian nations. Canada shouldn’t and likely won’t stop the pipeline or the mine expansions. The B.C. government and many northerners see the Northwest Transmission Line as vital infrastructure that must go ahead. Natives, therefore, are being forced to decide between traditional beliefs and modern realities. Between protecting what they have and the possibility of a more prosperous future for their children. Apparently, it is not an easy decision.

/&95 .0/5)

Western Investor presents our annual look at waterfront real estate. We tee up for lessons on buying a golf course, report on the future of forestry towns post the pine beetle and provide reasons why investors should be looking at mobile home parks. Our regional reporters file from Kelowna, Red Deer and Churchill Falls. Plus, we deliver the news and commentary needed by western investors.

Publisher Cheryl Carter Editor Frank O’Brien Contributing Writers Curt Cherewayko, Dave Husdal, Geoff Kirbyson, Glen Korstrom, Baila Lazarus, Joel McKay, Peter Mitham, Kevan O’Brien Copy Editor Noa Glouberman Production Manager Rob Benac Production Natalie Reynolds, David Tong, Tanya Van Advertising Sales Manager Christine Campbell Advertising Sales Paul Douglas, Gary Takahashi Advertising Sales Coordinator Angela Foster Accounts Receivable Yvonne Posch Circulation Veera Irani, Newsstands Globe Distribution Services Printed in Canada at Kodiak. Western Investor is published monthly by BIV Media Limited Partnership VANCOUVER – HEAD OFFICE: 102 East 4th Avenue, Vancouver, B.C. V5T 1G2 Subscriptions and Advertising Sales Tel: 604-669-8500 Fax: 604-669-2154 Canada/U.S. toll-free: 1-800-661-6988 Alberta, Saskatchewan & Manitoba Advertising Sales toll-free: 1-888606-6267. Canadian publications mail product sales agreement #40069240, GST #105655567. Copyright 2002. While every effort is made to ensure the accuracy of articles and advertising that appear in each edition of Western Investor, the publisher may not be held responsible for any errors or omissions that may from time to time occur. No part of this publication may be quoted or reprinted in any medium without the express written permission of BIV Media Limited Partnership.

FRANK O’BRIEN

EDITOR wieditor@biv.com

ADVERTISING DEADLINE JULY 2011 issue: June 13, 2010

Roaron Construction “Your One Stop Shop�

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Apartment Building 727 4 Ave New Westminster UĂŠ£äĂŠ1Â˜ÂˆĂŒĂƒĂŠ/i˜>˜VÞÊ Â?`} UĂŠĂˆäĂ‰ĂˆĂˆÂťĂŠĂ?ĂŠÂŁĂŽĂ“Âť UĂŠ, Ă“ĂŠ<œ˜ˆ˜} UĂŠ$1.35 Million

ERIC FUNG Amex - Fraseridge Realty

604 657 6448

VALEMOUNT / JASPER AREA B.C.

s 0RESENTLY FRANCHISED AFl LIATED "EST BUY UNIT -OTEL PLUS SEAT RESTAURANT LOUNGE /N PRIME 9ELLOWHEAD (WY .O 4RUCK STOP LOCATION AND EXCELLENT FRONTAGE !SKING $4,888,888 REDUCED TO $3.98 Million !PPROX TO #!0 RATE FULLY RENOVATED PRIME LAND ON ACRES 0OSSIBLE TO FRANCHISE 4O (OLIDAY )NN %XPRESS OR (AMPTON )NN s (OLIDAY )NN 2ESORT ,OCATION $13 Million s (OLIDAY )NN %XPRESS )NTERIOR $10 Million s "EST 7ESTERN "# )NTERIOR $8.2 Million s /KANAGAN $RIVING 2ANGE $1.9 Million s "URNABY -OTEL -ILLION s ! 7 ,OCATIONS AVAIL STARTING AT $700,000 s $OWNTOWN 6ANCOUVER (OTEL $10.5 Million s "URNABY "# -OTEL $5 Million NEW WO R L D R EA LT Y

KARIM ALI MERALI 1-250-566-0072 or Toll Free 1-888-830-7888 Cell: 604-657-3448 Email: karimerali@gmail.com

Established investment company seeking to acquire properties in major BC and Alberta markets. WE BUY: - Strata titled multi-family and commercial buildings - Bulk condominium units including "fractured stratas" - Vacant buildings - Office and light industrial - Unsold developer inventory - Multi-family and commercial foreclosures - Assets with deferred maintenance Quick, straight forward closing. Contact: Joelle Wendt, CFA Upcountry Properties Group

LAND BANKING - INVESTMENT OPPORTUNITY Southern Gulf Islands • OCEANFRONT & OCEAN VIEW LANDS

104 ACRES

STRATEGIC LOCATION in the triangle Vancouver / Seattle / Victoria Several titles, further development possible. Price $ 7,500,000 Call owners at

250-382-8559 or email

arbutusbay@gulfislands.com

T: 604.987.1230 F: 604.987.1238 www.upcountrygroup.com joelle@upcountrygroup.com

Lower Mainland A7

WESTERN INVESTOR JUNE 2011 www.westerninvestor.com

Vancouver Of๏ฌ ce 604 687 7331 s

s

For more information visit our website

www.avisonyoung.com

FEATURED LISTING FOR SALE โ 9055 Centaurus Circle, Burnaby s UNIT APARTMENT BUILDING WITH CONVENIENCE STORE MARKET s ,ARGE ACRE SITE IN 3IMON &RASER (ILLS NEIGHBOURHOOD s #LOSE TO SCHOOLS 3KYTRAIN AND ,OUGHEED 4OWN #ENTRE s 5NDERGROUND PARKING 3PC (SFFS "MFY .FTTJOB .BSL )BOOBI FOR SALE/LEASE โ 1455-1475 East Georgia Street, Vancouver s SF OF /Fl CE 7AREHOUSE AVAILABLE s ) ,IGHT )NDUSTRIAL :ONING s $OCK 'RADE LOADING s QTG +PIO -FDLZ 4USVBO 4BEEMFS FOR SALE โ Royal Towers, 140 - 6th Street, New Westminster s UNIT APT BUILDING W GROUND m OOR RETAIL s 3PC (SFFS .JDIBFM ,FFOBO #BM "UXBM FOR SALE - 820 Kitselas Road, Terrace s ACRES OF )NDUSTRIAL ,AND s 7ORLD RENOWNED l SHING DESTINATION s .BUU 5IPNBT ,ZMF #MZUI FOR SALE 105 Brunswick St. & 110 Victoria St., Prince George

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.BUU 5IPNBT ,ZMF #MZUI

FOR SALE โ 6891 Macpherson Avenue, Burnaby s &REE STANDING BUILDING YARD AREA s 2EDEVELOPMENT POTENTIAL s #ORNER LOCATION s 3ZBO ,FSS ,ZMF #MZUI SOLD โ 6780 No. 3 Road, Richmond s )MMEDIATE ACCESS TO SKYTRAIN LD O s 0RIME CORNER ON .O 2OAD ACROSS S FROM 2ICHMOND #ENTRE #BM "UXBM FOR LEASE โ 2111 Main St, Cherry Lane Shopping Centre, Penticton s 5NITS RANGING FROM n SF s %XCLUSIVE OPPORTUNITY TO BE A PART OF THE 3OUTH /+ S ONLY ENCLOSED SHOPPING CENTRE s !NCHORED BY 3AVE /N &OODS ,ONDON $RUGS AND THE "AY s 3TRONG DIVERSE TENANT MIX +BNFT 4IBOESP

FOR SALE โ #1 3180 262 Street, Langley

s SF OF OPEN PLAN OFl CE SPACE s :ONING ALLOWS MANY OFl CE USES s (IGH 4RAFl C EXPOSURE s 1BVM 1VSFXBM FOR LEASE โ 320 Terminal Avenue, Vancouver s SF BUILD TO SUIT OFl CE RETAIL BUILDING INDIVIDUAL m OORS AVAILABLE s 2EADY FOR OCCUPANCY IN s !DJACENT TO -AIN 3TREET n 3CIENCE 7ORLD 3KYTRAIN 3TATION s #OMPETITIVE LEASE RATES TENANT INDUCEMENT PACKAGES OFFERED

+PTI 4PPLFSP +VTUJO 0NJDIJOTLJ

FOR SALE โ 5705 North Island Highway, Campbell River s ACRE WATERFRONT DEVELOPMENT SITE WITH WATERLOT LEASE s :ONED I INDUSTRIAL s /Fl CE BUIL DING WATERHOUSE COMPLEX s .BSL )BOOBI 3PC (SFFS FOR SALE - Forest Hill Plaza - 8318-120th Street, Surrey s !PPROX SF RETAIL OFl CE BUILDING s 0OTENTIAL TO ACHIEVE OVER CAP RATE s FT OF FRONTAGE ON 3COTT 2OAD s %XCELLENT EXPOSURE IN HIGH TRAFl C COUNT AREA s #BM "UXBM FOR SALE โ Dalton Hotel - 759 Yates Street, Victoria s 0RIME CORNER LOCATION AT "LANSHARD 9ATES R CT E s 3IGNIl CANT INCOME FROM RETAIL COMPONENT D A N R U NT s /PPORTUNITY TO ALSO ACQUIRE ON SITE LIQUOR STORE CO AND RESTAURANT BUSINESSES #BM "UXBM .JDIBFM ,FFOBO FOR SALE - 2342 Windsor Street, Abbotsford s %XCELLENT USER INVESTMENT OPPORTUNITY s TOTAL BUILDING AREA WITH SECURED YARD % s .EWLY LANDSCAPED AND RENOVATED 0 4 s .JDIBFM 'BSSFMM +PIO &BLJO FOR SALE โ 9771 186 Street, Surrey E AS E L

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

.JDIBFM 'BSSFMM +PIO &BLJO FOR SALE โ 12294 104th Avenue, Surrey s )NDUSTRIAL INVESTMENT WITH UPSIDE n GREAT CASH m OW s %XCESS LAND FOR ADDITIONAL BUILDINGS s SF ON ACRES s .JDIBFM 'BSSFMM +PIO &BLJO FOR SALE 10816 โ 10840 124th Street, Surrey s SF ON ACRES s (EAVY POWER OVERHEAD CRANE AND TRUCK SCALE s 0AVED GRAVEL YARD AND FULLY FENCED .JDIBFM 'BSSFMM +PIO &BLJO UNDER CONTRACT - 12941 115 Avenue, Surrey s ACRE INDUSTRIAL PROPERTY R T DE C s 0ILED FOR SF BUILDING :ONED AND SERVICED N RA U T s ย BLOCK OFF OF FUTURE 0ERIMETER 2OAD INTERSECTION N CO Uร fร ]nรครค]รครครคร ร +PIO &BLJO .JDIBFM 'BSSFMM FOR SALE - 1915 Stainsbury, Vancouver s 2ECENTLY RENOVATED TWO STOREY OFl CE BUILDING s 3HORT TERM SALE LEASEBACK OPPORTUNITY s 3IGNIl CANT RESIDENTIAL REDEVELOPMENT POTENTIAL s 4USVBO 4BEEMFS 3PC (SFFS FOR SALE โ Lynn Valley Village s 0REMIER 2ETAIL /Fl CE /PPORTUNITIES s !NCHORED BY "2/7.3 3OCIAL (OUSE 99OGA 6AN #ITY AND ,YNN 6ALLEY ,IBRARY s !VAILABLE )MMEDIATELY +BNFT 4IBOESP *BO 8IJUDIFMP FOR SALE โ 20800 Westminster Highway, Richmond s 4WO ADJOINING STRATA UNITS s SF OF RETAIL OFl CE AND WAREHOUSE USE s #LOSE PROXIMITY TO AIRPORT 53 BORDER HIGHWAYS 1BVM 1VSFXBM s FOR SALE โ Development Site 1636 Island Highway, Victoria s ACRES s #OMMERCIAL :ONED # s #LOSE 0ROXIMITY TO *UAN DE &UCA 2ECREATIONAL &ACILITY 6ICTORIA 'ENERAL (OSPITAL AND THE 'REAT #ANADIAN #ASINO %PVHMBT - .D.VSSBZ

A8 Lower Mainland/Services COMMERCIAL MORTGAGES

ALSO, Industrial, Multi-Residential & Construction

LEAKY CONDO FINANCING

" , FOR ALL TYPES OF COMMERCIAL PROPERTY:

UĂŠ ÂŤ>Ă€ĂŒÂ“iÂ˜ĂŒĂŠLĂ•ÂˆÂ?`ˆ˜}Ăƒ UĂŠ ˆĂ?i`Â‡Ă•Ăƒi UĂŠ-ĂŒĂ€>ĂŒ>ĂŠĂ€iĂŒ>ˆÂ? UĂŠ ÂœĂŒiÂ?Ă‰Â“ÂœĂŒiÂ? UĂŠ ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ĂŠĂœ>Ă€iÂ…ÂœĂ•Ăƒi UĂŠ ÂœÂ˜ĂƒĂŒĂ€Ă•VĂŒÂˆÂœÂ˜Ă‰`iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒ

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>ĂƒĂŒĂŠ ÂŤÂŤĂ€ÂœĂ›>Â?ĂŠUĂŠ*Ă•Ă€VÂ…>ĂƒiĂŠÂœĂ€ĂŠ,iw˜>˜Vi The Origin Group — Mike Lee

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michaellee@origingroup.ca

www.westerninvestor.com JUNE 2011WESTERN INVESTOR

INVESTOR ALERT Lotto 649, Turn 4.9 mill to 12.5 + mill, 18 lot subdivision zone SR-1 zoned for 1 acre in Langley BC, New sewer line is only a couple block away, this property is  at, gravel based, 10,000 sq ft building has potential income, only asking $4.9 Mil, email for details. 31 acres blueberry farm with 8 bed rm house 15 year old plant, last year crop was over 250,000.00 only 3.2 mill. Great investment 16.44 acres blueberry farm with 7200 sq ft new house made for 2 family only 2.5 mill. 5 acres out of ALR with over 8547 sq ft house and 2nd house have B & B potential income from 2nd property over $4500.0 per/ M, asking $3.9 mill.

AMARJI T G I L L 604-614-7101 Global Force Realty

Franchise Opportunity Blenz Master Franchise in Vancouver, Vancouver Island, Ontario & Alberta Blenz Franchises ............................. $179K - $488,800 Steamrollers Franchise Opportunity , Vancouver .................................................................. $319K (Davie St.) Wired Monk Individual Franchise Opportunity. Wired Monk .................. $135K, $169K, SOLD-$159K Wired Monk New Franchises - Vancouver ................................ $262K-$350K depending on location Sandwich Tree master franchise opportunity $275K Le Bistro Chez Michel .........................................$214,900 Crepes and Gelato ...................................................$97,600

www.matthewmoadebi.com www.vancouverfranchise.ca

A 10 acre zoning, allowing for further development. (More homes? A resort?) A great private or group purchase or company retreat! Price: $5,750,000

View BCPRIVATEISLANDS.COM WARK REALTY INC. 604.946.8710 NEILWARK@GMAIL.COM

s 3UBDIVIDABLE INTO LOTS LAYOUT AVAILABLE OR /#0 ALLOWS UP TO APARTMENT UNITS HECTARES OR TOWNHOMES s 3ERVICES !4 LOT LINE 3CHOOL AND AMENITIES NEARBY s #URRENTLY TREED REPORT AVAILABLE SHOWING TIMBER VALUE TO BE AROUND 3OME GOOD 6ALUE IN THE 4IMBER

In-Town

Oceanfront

Property

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

MagniďŹ cent Waterfront Acreage

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

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

A beautiful custom designed 3300 sq ft home, 2 log cabins, workshop, dock and gardens.

"DSFT PG 'MBU MBOE JO #FBVUJGVM )PQF # $

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

Ideal Agri-Business Opportunity

An exciting, unspoiled, exclusive private island retreat of 85 acres, with towering mature trees and many sheltered bays.

"UUFOUJPO *OWFTUPST %FWFMPQFST BOE #VJMEFST

Ideal Commercial Building Site

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

Private Islands

m.m7430@gmail.com

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

Incredible Location! 132 acres just past

RARE FIND!

Matthew Moadebi 604-329-6771 (Cell)

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

SELL

Great Investment Property 30 acre

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

Aroma's Gourmet Coffee & Lunch

Well established; steady clientele. Leased space on active business complex; Across from Airport. Financials available. $54,900

Downtown Ocean View Building on main street, ready to go as a restaurant on main oor plus unďŹ nished lower level & detached building with long-term tenant; paved parking lot; fronts 2 streets. $399,900

Your Dollar Store with More Clean, bright, well-organized oor plan in 6000 sqft lease space. Great exposure in a high trafďŹ c area. Good mix of surrounding businesses in this shopping/service complex. $179,900

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

s (SFBU 1SJDF 0OMZ 1IPOF GPS NPSF JOGPSNBUJPO

1-800-661-6988 For all your real estate ďŹ nancing needs

MORTGAGE FINANCING www.peoplestrust.com BRITISH COLUMBIA REGION

Brian D. Kennedy 604-331-2211

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Jonathan P. Wong 604-331-2218

PRAIRIE REGION

Dennis K. Aitken 403-205-8203

PRAIRIE REGION

Daniel Stewart 403-205-8202

A9

WESTERN INVESTOR JUNE 2011 www.westerninvestor.com

FEATURE Western Canada hotel sales leading the nation and motel owners hope to share in the upturn

WESTERN INVESTOR fter two years that hotel owners and analysts describe using words like “disaster� and “massacre� the hospitality industry in Western Canada is leading the nation, with British Columbia setting the pace.

"

While the recovery is primarily in large flagged hotels, the scores of mom-and-pop motel owners across the west are also seeing signs that incomes and equity could also be rising, despite an apparent glut of property listed on the market. How bad was it? In 2009 only one hotel sold in all of B.C. Last year 10 big hotels sold and this year is shaping up to be better that, according to Betsy MacDonald of North Vancouver-based HVS International. “This year is starting off bullishly as hotel listings appear to have generated substantial interest from within Canada as well as the U.S.,� MacDonald noted. Colliers International, considered the leading source for hotel industry research, reports that, nationally, hotel sales volumes last year were running 72 per cent ahead of 2009, despite sales rising by just 12 properties. In other words, hotels are selling for more. The average deal was $8.2 million last year, up from $5.6 million in 2009, which Colliers calls “a cyclical low.� The typical perkey room price (or “key� price) nationally was $83,000, up 26.7 per cent from 2009. At the last peak of the market in 2006, the typical perkey price was $164,000, to give an idea of how much ground the market has yet to recover.

former. The rising activity was most pronounced in B.C., accounting for 50 per cent of the sales across the west, which had doubled from a year earlier. B.C. also posted the highest sale price per room in the country, at $131,000 per key, with Alberta far back in second place at $94,000 per key. The average price paid for a hotel last year in Western Canada was $9.8 million, 18 per cent higher than the national average. As a comparison, only one hotel sold east of Quebec last year and the average price per key east of the Manitoba border was $74,000, While most hotel investors have been lured to Vancouver and its Olympic legacy, MacDonald said Alberta could be poised as a hotel leader in 2011. She points to two recent sales this year: the Marriott Courtyard in Edmonton that sold for

The average price for a hotel last year in Western Canada was $9.8 million, 18 per cent higher than the national average.

$26 million ($147,000 per key) and a flagged hotel in Fort McMurray that fetched an eyepopping $203,700 per room in a March transaction, as signals of a trend. Higher prices for oil, rather than tourists, are the reason for the Alberta optimism. In both Edmonton and Calgary, it is weekday traffic not weekend visitors that dominate room rentals, she noted. 8FTU MFBET MacDonald also likes Vancouver, though she It is Western Canada that is the current star per- said that the record-setting occupancy levels

(TOP) This 29-unit hotel in Radium Hot Springs is listed by Syber Realty for just over $1 million ($34,000 per room). (RIGHT) This Marriott hotel in Edmonton recently sold for $26 million ($147,000 per room).

Photo: HVS International

FRANK O’BRIEN

Photo: Syber Realty Ltd.

)PUFMT NPUFMT

through the Olympics make the market seem stronger than it is. She added that Disney Cruise Lines made Vancouver its home port for Alaska cruises this year, which is expected to boost hotel occupancy by as much as 33,000 overnight visits. Disney, however, will reduce Vancouver visits to just two in 2012. B.C. set the national record for room prices last year, when a buyer paid $373,000 per key for the 51-unit Nita Lake Lodge at Whistler. The Pacific Palisades Hotel and the Hilton Vancouver Metrotown Hotel were the biggest sales in the province, at $46.9 million and $44 million, respectively. Colliers expects more hotels to be put on the market this year, in Western Canada and across the country, as long-patient owners try to catch the price lift. “Transaction volume should increase 20 per cent to 25 per cent from 2010 levels,� Colliers stated. Hotel buyers continue to be characterized by private investors, who bought nearly threequarters of all the hotels sold in Canada last year. Hotel investment companies bought just

eight hotels, or 9 per cent of the market. However, across Canada, an estimated 12 per cent of hotel sales in 2010 were distressed sales forced by lenders “who had no choice but to liquidate their position on troubled hotel loans.� Real estate investment trusts abandoned hotel acquisitions five years ago and did not buy a single hotel last year in Canada. Colliers, however, expects REITS to come back to the table as larger assets and portfolios are listed this year and into 2012.

'JOBODJOH

It is getting easier to finance hotels, with eligible buyers able to borrow at rates of from 4 per cent to 7 per cent over the past few months Colliers notes that lenders are focusing on cash flow, not real estate, and buyers can expect deeper due diligence from the banks. Most lenders, however, still shy away from hotel construction loans, preferring to loan for existing properties. Buyers can also expect to

Please see Listings page A10

-PXFS .BJOMBOE

DISTRESSED ARIZONA OPPORTUNITIES

75th Ave

I-10

Sun Valley Pkwy

Bell Rd

BELL ROAD - PHOENIX Âą4,042 SF SHELL OFFICE CONDO - HOSPITAL 1 MI. LENDER OWNED

SCOTTSDALE AIRPARK OFFICE / HANGAR Âą5,422 SF NOW PLACED UNDER $1M

PHOENIX OFFICE BRAND NEW REMODEL Âą8,433 SF - 21+ OFFICES LENDER OWNER - MAKE OFFER

VERONA MPC - COOLIDGE Âą340 ACRES - 593 LOTS LENDER OWNED MAKE OFFER

16TH STREET - PHOENIX Âą11,431 SF OFFICE/INDUSTRIAL FACILITY LENDER OWNED

RETAIL - PHOENIX GRAND AVENUE FRONTAGE Âą1,630 SF REO - $145,000

ARROWHEAD MALL - PEORIA Âą3.88 ACRES ZONED COMMERCIAL PAD LENDER OWNED

ELESIO FELIX - PHOENIX Âą10.8 ACRES ZONED A-1 LENDER OWNED

70 ACRES - CAVE CREEK ESTATE / RANCH CITY VIEWS - HIGH END HOMES REO - MAKE OFFER

31 RESIDENTIAL FINISHED LOTS LAKESIDE, AZ ELK SPRINGS REO - $495,000

BUCKEYE RETAIL - TOLLESON Âą5,000 SF BUILDING Âą1.3 ACRE FENCED YARD ZONED C-3 / COUNTY ISLAND

TONOPAH 78 Âą78 ACRES - HARD CORNER CLOSE TO I-10 @ 411TH AVE OFFRAMP BEST PROPERTY IN AREA

SUN VALLEY PKWY - BUCKEYE Âą5 ACRES COMMERCIAL OVERLAY PARKWAY FRONTAGE

TIERRA GRANDE ESTATES - CASA GRANDE ZONED CR-5 MULTI-FAMILY Âą46 ACRES - CONCEPTUAL PLAN MAKE OFFER

411th

Ave

STEARMAN - CHANDLER NEW INDUSTRIAL FACILITY CHANDLER AIRPARK LENDER OWNED

!( D !% $ D $%# $$ $$ TS 2141 East Broadway Road, Suite 111 Tempe, Arizona 85282 www.thebenjamingroup.com

KENT D. BAKER " ! (480) 968-3033 Direct (602) 316-8136 Mobile ! ! kbaker@thebenjamingroup.com # ! "

The information contained herein was obtained from sources deemed reliable; however, Seller or its agent shall not be held responsible for errors or omissions. Subject to prior sale or withdrawal. Exclusively listed by The Benjamin Group, LLC.

A10 Lower Mainland

www.westerninvestor.com JUNE 2011 WESTERN INVESTOR

EJ7

FOR SALE FED GOV TENANT (DFO) 5,240 sq. ft. 0.35 Acre Free Standing Concrete Block Good Van lsl. Location Asking: $749,000 (7.6% CAP)

GASTOWN - VANCOUVER • Must see to appreciate! • Approx. 4,500 sq.ft.- Capacity: 192 • Newly re-modelled • New large commercial kitchen • Licensed off-sale cold beer & wine • Selling $300,000 • Lease to be negotiated • Turn-key operation

(250) 287-2200

Call <:DG<: L>C@A:G

COURTESY TO BROKERS

+%) ,'+"'-)*

6B:M G:6AIN

NIGHTCLUBS FOR SALE Vancouver Nightclub

Fraser Valley Nightclub

$399,000

$399,000

Call or email for details! Matt McGILL 604-562-7782

Matt@McSOLD.ca www.McSOLD.ca

HomeLife Benchmark Langley

-*45*/(4 from 9

see a compression of capitalization rates as prices and sales improve. Cap rates are generally in the 8 per cent to 9 per cent range, or about 3 per cent below the bottom of the market two years ago.

3FWFOVF QFS BWBJMBCMF SPPN 3&71"3 Area

REVPAR

Occupancy rate

Vancouver B.C. Alberta Manitoba Saskatchewan

$102.75 $88.04 $81.11 $72.66 $81.45

67.7 per cent 61.0 per cent 58.4 per cent 65.2 per cent 68.3 per cent

¥.B BOE QB¢ NPUFM EFBMT

It is not scientific, but judging from listings in Western Investor and anecdotal evidence, there are more motels listed for sale this spring across Western Canada. A quick scan of this paper will turn up at least three-dozen listings, including some being sold under court order. It appears that many vendors are tired of waiting for the upturn and decided, or were forced, to sell at the same time. For investors confident of a recovery, there are deals to be had, according to realtors close to the motel market. “It was gift [to the buyer],� said Larry Berisoff of Kelowna-based Syber Realty Ltd. talking about the recent sale of a 28-unit motel in New Denver, B.C., for $695,000, or less than $25,000 per room. Berisoff has sold seven hotels in the first three months of this year, and has another eight listed, from Houston to the Okanagan. Berisoff said that listings and sales are rising this year, but the profile of the buyers hasn’t

UNIQUE FRANCHISING OPPORTUNITIES

In Western Canada Are you the type of person who is community-minded, knows the value of excellent customer service, and enjoys interaction with other people? Then, we would like to offer you a turnkey package, complete with proven operating system, full training, and on-going support. You’ll meet the nicest people as you operate your business “handsonâ€?. We have been in operation since 1980 and have over 460 stores across Canada. If having a business of your own with the support of a successful franchise is of interest to you, please call Bonnie Armstrong at the Western Regional OfďŹ ce for more information 1-800-661-7682 (ext 270) or visit our website at www.franchise.mmmeatshops.com

MISSION 38.31 Acres – 1,319' x 1,265' Not in Agricultural Land Reserve s !LL CLEARED 4WO ROAD FRONTAGES s ,ARGE HOME n 2ENTED MO s 3MALLER HOME n 0OTENTIAL MO s 3EVERAL LARGE BARNS s :ONING 25 /N #ITY WATER !SKING $3,000,000

marketing your franchise? Call the

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

C A L L T O D AY F O R V I E W I N G

ADRIAN GAGNER 604-466-5077 or 604-826-5733

westerninvestor.com

m[ij[hd_dl[ijeh$Yec d[mi WhY^_l[i h[fehji kfZWj[i

*For 2010. Source: Smith Travel Research/HVS International

changed – they are almost invariably individual investors. “The first question they ask is about cash flow,� he said. Aside from the “ma and pa� buyers, Berisoff said he has also been talking to one group of young investors trying to put together a small portfolio of properties. He addded that some motel owners count on blue-collar traffic, such as construction workers, to fill rooms, rather than tourists. But, he added, “when the construction work stops, so do the tenants.� It is safer, therefore, to buy in areas with stable tourism. It is not uncommon for small hotels in B.C. or Alberta to post cap rates in the 9 per cent to 12 per cent range, he said, which makes them attractive for retirement income or for a pure investment. As for financing, Berisoff said lenders are sticking to a minimum of 40 per cent down payments, though some motel sellers are willing to take part of that in vendor takeback. His biggest challenge, he said, is convincing vendors that it is no longer 2007 and they have to price their motel to today’s market values.◆

LORNE CHERNOCHAN 604-880-0550 (cell) lorne@chernochan.com www.chernochan.com CALL OR EMAIL FOR A FULL INFO. SET

COMMERCIAL LEASE SPACE WEST RICHMOND 3,500 sq ft of Street Side Storefront Exceptional Parking and Exposure RETAIL or RESTAURANT or OFFICES or SERVICES On a busy street across from major shopping PLUS near to park and high school AND in a dense residential area. $28 psf 3xN. MAJOR PRICE REDUCTION to $675,000 INDUSTRIAL STRATA FOR SALE NORTH RICHMOND 3716 sf 4 year old unit = 2,850 sf warehouse with BOTH grade + loading (with leveler); + main oor showroom + 2nd oor ofďŹ ces with separate entrance, kitchen, + w/c. Tenanted until August 1ST, 2011. INDUSTRIAL STRATA UNIT 1465 sq ft SOUTH RICHMOND – RIVERSIDE FOR LEASE 1,465 sq ft ground oor unit with a large showroom + furnished private ofďŹ ce; and a smaller warehouse behind with a mix of high and lower ceilings. Fully AC and offering 3 phase power and multiple line phone system. Perfect for sales ofďŹ ce. Vacant. INDUSTRIAL STRATA UNIT 2,555 sq ft FOR LEASE NORTH RICHMOND Large ground level corner unit with 1,055 sf of ofďŹ ce/showroom + 1,500 sf of warehouse in newer building with good corporate image. Grade load, 22’ ceilings, good parking. I-3 zoning. LOW LEASE RATE OF $10 PSF!!

lorne@chernochan.com www.chernochan.com

9edjWYj ki \eh ceh[ _d\ehcWj_ed0 ,&*#,,/#.+&& eh WZl[hj_i[6m[ij[hd_dl[ijeh$Yec

WESTCOAST

Lower Mainland A11

WESTERN INVESTOR JUNE 2011 www.westerninvestor.com 160 SEAT RESTAURANT, approx 4 yrs old—Going Concern in busy Shopping Center with Safeway, Liquor store, Blockbuster, HSBC, Envision Bank,,, This Restaurant is gorgeous, 5605 leasable area Includes all chattels, over 800,000 in tenant improvements, if you are looking for a restaurant this has EXCELLENT VALUE. Good client base, assets sale only, you would never be able to build this restaurant for anywhere near this price, $269,000

REDUCED

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

INVESTOR ALERT! FULLY LEASED 6 yr old 12,566 sqft Industrial Building in Excellent location on 31279 sqft Corner Lot Excellent tenants, room to expand with 2nd floor in existing building, storage yard in the back. Asking $2,100,000. DON'T MISS THIS GREAT PRICE!!

LINDSEY GAUTHIER phone: (1) 604 798 2977 CHILLIWACK email: LGAUTHIER @SUTTON.COM

Residential Private & Second Mortgages t /FFE RVJDL GVOET t #BE $SFEJU /P $SFEJU t %FDMJOFE CZ #BOL t -PX %PDVNFOUBUJPO -BSHF 1SJWBUF .PSUHBHF 'VOET "WBJMBCMF $BMM /PX GPS B 2VJDL "QQSPWBM

AJIT HUNDAL, AMP Telephone: 604-614-6899 Toll Free: 1-866-614-6899

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

Each office is independently owned and operated.

Jerry Raczkowski 780-932-2121 Crest Realty (Westside)

Campbell River Development Site

Maple Ridge

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

Just listed: Total of 4 properties at 4th Reading, Plans Available, Prime location,

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

2.4 million

OFFICE STRATA UNITS

COMMERCIAL DEVELOPMENT SITE - LANGLEY

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

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

NORTH SURREY LAND ASSEMBLY

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

11880 – 11920 96A AVE 4 lots with 275 ft frontage & 36,000 sf of land, zoned single family. Most properties currently rented. Great holding property! Go to web for info package and area video. $1,921,000

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

YALETOWN DOG BOUTIQUE

LES TWAROG

1146 PACIFIC BLVD The Dog & Hydrant, Speciality Dog Pet Products, located on a busy street in the heart of Yaletown. 800 sq/ ft of space with average sales of $15,000/ month. Leased at $4,300/mo (all in). Potential to expand to dog grooming at this location – Call for more info. $125,000

(604)671-7000

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

To view listings please visit:

www.6717000.com/biz

81 Unit Condo Site

Offers Welcome! Call

Ken Cowie 604-351-5611

Terry A Young 604-970-3808 1-800-665-1455 tayoung2011@gmail.com RE/MAX Crest Realty

Mike Sidhu 604-831-2500

Distribution Warehouse

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

Chilliwack Apartment TO BE BUILT in central Sardis. 60 Units similar to photo with full underground parking garage. Great investment opportunity. $10.5 million turn-key delivery in 2012.

Corney Les

604-795-6938

RE/MAX Corney Les Realty www.morechilliwackrealestate.com

JUN 2011

Each office is independently owned and operated.

A12 Lower Mainland

www.westerninvestor.com JUNE 2011WESTERN INVESTOR

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

RICHMOND s 3TRIP -ALL NEAR ,ANSDOWNE s )NDUSTRIAL BUILDING REZONE POTENTIAL s )RONWOOD INDUSTRIAL SITE W INCOME s $EVELOPMENT SITE &RANCIS 2AILWAY

$11 Million $5 Million $2.8 Million $4.5 Million

VANCOUVER s -AIN 'EORGIA STRATA CONCRETE BUILDING $7.8 Million s %AST "ROADWAY NEAR +INGSWAY SITE W INCOME $5 Million

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

www.naibusinesses.ca

FULLY LEASED LANGLEY INVESTMENT BUILDING CAP RATE 6.1% on. ASKING $3,295,000 s -ULTI TENANT RETAIL OFlCE MIX s 0ROFESSIONALLY MANAGED FOR OWNER EASE s SQ FT BUILDING s .ET INCOME OF

2160 Sq. Ft. COMMERCIAL STRATA UNIT NEW CONSTRUCTION ASKING s 2EADY FOR YOUR LAYOUT s (IGHWAY FRONTAGE s (6!# AND SPRINKLERS TO OPEN PLAN s &ULL CONCRETE CONSTRUCTION

MEDICAL CLINIC FOR LEASE 2203 SQ. FT. !3+).' ...

PRINCE GEORGE, BC – FOR SALE

UNIQUE HOME IMPROVEMENT BUSINESS (Fraser Valley)

DENTAL CLINIC FOR LEASE 1448 SQ. FT. ASKING ...

AWARD WINNING MILLWORK BUSINESS (Lower Mainland) Major clients in Canada and USA. Revenue in excess of $4.5m...................................................... $2.0m inc equip VANCOUVER DINNER CRUISE BUSINESS In business for over 15 years operating two yachts from Downtown Vancouver. Nets $310,000 ... $2.5m inc yachts OKANAGAN CATTLE RANCH (nr Keremeos) . 212.62 acres, 3 homes, 4 barns, equip shop. Grazing license for 592 AUM. Vendor ďŹ nancing available .................................... $1.95m STRUCTURAL STEEL FABRICATING UNDER OFFER Over 15 years in business in construction industry. Revenue forecast over $1m .............................. $590,000 inc equip METAL FABRICATING COMPANY (Burnaby). Well established business with strong earnings history and healthy margins ....................................... $1.8m inc equip

s EXAM ROOMS RECEPTION LUNCHROOM CLINIC OFlCE WASHROOMS AND lLE STORAGE s !VAILABLE 3EPTEMBER

TOWN HOUSE DEVELOPMENT SITE – ZONED, APPROVED, READY FOR DEVELOPMENT PERMIT $695,000 s 6IEW !CRES s :ONED 2 s !PPROVED FOR UNITS s !SKING ONLY PER DOOR

TED WEIBELZAHL 604-514-6825 or 1-800-890-9855 Kamloops 42 Suite Apartment Bd

HAIR & BEAUTY SALON (Lower Mainland). Very successful full service beauty salon in trendy area. Sales over $460,000. 10 staff. No rentals ................................... $258,000 + inv

UĂŠ Ă€ÂœĂƒĂƒĂŠ ˜Vœ“iĂŠfĂ“xĂˆ]nää]ĂŠ " ĂŠfĂ“äĂ“]äää

INDUSTRIAL PROPERTY INVESTMENT (Delta) 44,366 sq.ft industrial facility in Tilbury. 1.62 Acres. Fully leased. 6.8% Cap rate .................................... $4,390,000

Ace Self Storage Kamloops

604-691-6646

604-691-6654

alf@naicommercial .ca

delon@naicommercial .ca

NEW WEST WAREHOUSE

BURNABY OFFICE/RETAIL

s 3& s 2OYAL !VE %XPOSURE LEASED s !PPLIANCE &URNITURE $ANCE USES s -ONTH

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

COQUITLAM OFFICE

NEW WEST OFFICE

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

s 6ARIOUS ,OCATIONS s SQ FT

BILL HAMILTON 604-524-3641, x305 bill@naicommercial.ca

INDUSTRIAL – FOR LEASE &ULLY 0AVED :ONED !CRES TOTAL !BBOTSFORD #AN BE DEMISED TO SMALLER LOTS /FlCE AND COVERED WAREHOUSE #LOSE TO 53 BORDER AND (WY #OMPETITIVE RATES

KEN KIERS

1698 JUNIPER ST

Kamloops 34 Suite Apartment Bd Kamloops Mobile Home Park UĂŠ Ă€ÂœĂƒĂƒĂŠ,iĂ›°ĂŠfÂŁĂˆĂˆ]äää]ĂŠ >ÂŤĂŠ,>ĂŒiĂŠÂœvÊǯ UĂŠAsking $1,800,000 UĂŠ Ă€ÂœĂƒĂƒĂŠ,iĂ›°ĂŠfĂ“ĂŽĂˆ]äää]ĂŠ iĂŒĂŠ*Ă€ÂœwĂŒĂŠfÂŁĂŽĂŽ]äää UĂŠAsking $1,700,000

1698 JUNIPER ST (12 UNITS)

Asking $610,000 1840 SPRUCE ST (16 UNITS)

Asking $749,900

MICHAEL MARCKWORT 604-691-6638

PETER SEED

michael@naicommercial.ca

604-691-6608

BUSINESSES FOR SALE MECHANICAL SHOP (North Vancouver) ,ONG ESTABLISHED SQ FT BAYS MECHANICAL SHOP IN VERY CONVENIENT AREA 'OOD LEASE ./) ........................................................................................................$98,000 BLUEBERRY FARM (Abbotsford) 3ITUATED ON PRIME -ATSQUI mATS 4HIS WELL MAINTAINED FARM WITH NEW SQ FT HOUSE OFFERS MATURE "LUECRO P AND $UCE 3ET UP FOR MACHINE PICK #OMPLETE DRIP IRRIGATION SYSTEM .................................$1.98mil JEWELERY STORE (Vancouver) 6ERY WELL KNOWN STORE IN BUSY 6ANCOUVER S SHOPPING DISTRICT ,OW RENT ............................................................... $280,000 + Inv.

CHRIS WIESER 604-691-6662

COURT ORDERED SALES 397 Acre Development Site, Sechelt BC s :ONED #$ MIXED USE RESIDENTIAL COMMERCIAL RECREATIONAL s !PPROXIMATELY FEET OF WATERFRONT ON 0ORPOISE "AY s Price: $22,250,000 459.1 Acre Development Site, Cranbrook BC s :ONED #$ 5( 2 ALLOWING FOR LOW MEDIUM DENSITY RESIDENTIAL s 3URROUNDING 'ARY 0LAYER DESIGNED GOLF COURSE s Price: $22,300,000

CURRENCY EXCHANGE (Surrey) 0ROlTABLE YEARS WITH THE CURRENT OWNER SQ FT BUSINESS LOCATED AT THE BUSY ROAD 'OOD LEASE AN D EASY PARKING ..........................................................................................................................$120,000

3,070 sq. ft. Retail Commercial Development, Pemberton BC s 'AS BAR -AC$ONALD S ON SITE s Price: $2,300,000

RESIDENTIAL INVESTMENT (Vancouver) 0RIME +ITS 0OINT SQ FT HALF DUPLEX WITH SQ FT PATIO 5NOBSTRUCTED VIEW OF 6ANIER 0AR K AND HIGH CEILING SOLD CROWN MOLDINGS AND SOLID MAPLE HARDWOOD mOORS #OULD BE LEASED A T MONTH ........................................................................................................................ ...$1.088M

2,620 sq. ft. Medical OfďŹ ce Building, Vancouver BC s :ONED # ALLOWING FOR RETAIL AND COMMERCIAL USE s Price: $1,100,000

EURO DELI (Coquiltam) 7ELL ESTABLISHED PROlTABLE DELICATESSEN WITH SMOKE HOUSE 'OOD LEASE .......................................................Assets $173,000 plus Inv.

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

2 PRINCE GEORGE APTS – FOR SALE

UĂŠ Ă€ÂœĂƒĂƒĂŠ ˜Vœ“iĂŠfΙ£]äää]ĂŠn°ĂŽÂŻĂŠ >ÂŤĂŠ,>ĂŒi

COMMERCIAL / RESIDENTIAL PROPERTY (Gibsons) -IXED USE )NVESTMENT # 2 SQ FT COMMERCIAL BUILDING ON ACRE PROPERTY 4HIS PROPERTY OFFERS EXCELLENT POTENTIAL WITH UNSURPASSED SOLD VIEWS OF THE 4RAIL )SLAND 0OTENTIAL USE EXISTING BUILDING AS A NEW START UP BUSINESS BUILD A DUPLEX IN THE BACK AREA OR DEVELOP ENTIRE PROPERTY .................................................................................. $438,000

OWNER MOTIVATED !

PARK VILLAGE & PINE GLEN – 251 SUITES

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

tedw@naicommercial.ca

MEAT & DELI BUSINESS (Okanagan) 12 years in business. $1m in sales annually for 4 yrs. Well equipped. Good lease in place............... $550,000 plus inv

ALF SANDERSON DELON CHEUNG

Asking $11,750,000

s )NFRASTRUCTURE IN PLACE s 6ACANT AND READY FOR YOUR EQUIPMENT

s (OME $Ă?COR SHOWROOM SPACE s PARKING STALLS s (IGH VISIBILITY LOCATION

Manufacturer of custom designed sunrooms and patios sold directly to commercial and residential users ........................................................... $390,000 inc equip

s #OMPLETION MIXED USE STOREY STRATA RENTAL s SUITES TWOS ONES ONE CONV

STUDIOS s %XCELLENT LOCATION s RETAIL OFlCE SUITES s 03&

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

SUB LEASE OPPORTUNITY 8176 SQ. FT SHOWROOM SPACE ASKING ...

CONSTRUCTION RELATED (Fraser Valley) NEW LISTING Specialized business within construction industry for 30 years. Over $1.6m in sales. Easy to operate ....... $850,000 NEW LISTING

KELOWNA, BC – FOR SALE

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

165 Acre Development Site, Abbotsford BC s 3EVEN PARCELS TOTALING ACRES s Price Reduced: $9,900,000

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

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

Committed to Canada. Connected to the World.

A13

WESTERN INVESTOR JUNE 2011 www.westerninvestor.com

FEATURE B.C. campgrounds fluff up with Wi-Fi, strata lots and amenities to attract new breed of RV owners

'BODZ DBNQJOH WESTERN INVESTOR inding through the closepacked sites of the Nk’Mip Campground and RV Park last summer, all the hallmarks of the lazy summers of yore were there: the campers, the tarps, the kids, the adults chatting in slackbacked camp chairs and around picnic tables, often with laptops and iPads glowing.

8

But a few years ago, a tide of resort development was transforming the time-honoured vacation spots of the Okanagan, gobbling up tired campgrounds for swank new resorts. Upscale accommodation was what the area needed to support the growing flow of wine tourists: campgrounds were for losers. But when economic fortunes reversed in late 2008 and projects began shutting down – or like the Copper Sky development on the former Mariner’s Reef campground site in Westbank, going into receivership – the remaining campgrounds were sitting pretty. A new cost-conscious vacationer was looking for cheaper accommodation, while retrominded Millennials showed up at the spots of their youth with their own kids. This year, Nk’Mip is opening 74 new spots and investing $70,000 on new infrastructure to accommodate demand for wireless services. “When I first started we had 1,200 sites in Osoyoos, now we’re down to 660. And we have 326 of them at Nk’Mip,” said Chris Bower, the campground’s general manager Retrenchment among consumers has helped boost demand. Camping typically increases during downturns, and the knock-on effect of higher gas prices has augmented the upswing. People are sticking closer to home to save on fuel costs. “A lot of times when there’s economic tough times, camping does increase. People still want

to go on vacation, and it’s a little less to go to an RV park as opposed to a hotel room,” he said, noting that rates at Nk’Mip may be above the provincial average but are still affordable at $25 to $48 a night during the high season, or up to $60 if there are extra campers. Higher gas prices mean destination This 11-acre campsite and RV park near Prince Rupert is listed campgrounds like for $11 million through LandQuest Realty. The number of campthose around Osoyoos ground sites in B.C. has fallen about 15 per cent since 2005. see particular demand because visitors will tend to stay put. Moreover, 2000s, acknowledges that the industry faces the fancy RV rigs that private operators like headwinds as it rebalances itself following the Nk’Mip are seeing are larger and better loss of between 10 per cent and 15 per cent equipped than in the past. of its sites over the past decade. Where once “There’s still a need for more three-, four-star there were approximately 30,000 private campRV parks in B.C.,” Bower said. “And that can sites, now there are now approximately 26,000 be tough for some people to try and redevelop, sites. with the cost of fixing your sites and making Joss Penny, the association’s executive dirthem bigger. It’s not easy to do.” ector, said there has been a slight increase in Nk’Mip had long-term rentals for 84 sites new camp site development since the associathis past winter, part of an ongoing demand for tion urged Victoria to take action in late 2007, its larger, full-service pads. And the past three but the additions have been modest. years have seen a significant increase in the While a growing number of agri-tourism technology campers are bringing. “It’s unreal. operators have taken advantage of provisions It’s not if someone’s brought a computer, it’s that allow up to 10 camp sites apiece on farmhow many devices,” he said. land (a common step in Kelowna and Lake Country where revenue from camping sup4JUF TIPSUBHF plements flagging orchard revenues), Penny But if destinations like Nk’Mip are enjoying pointed to major projects, such as Rosedalerenewed popularity among cash-conscious based Holiday Trails Resorts (Western) vacations, many campgrounds still face pres- Inc. is pursuing at its 90-acre Sunshine Valley property close to Hope, as positive signs for sure. Bower, who headed the BC Lodging and the industry. Campgrounds Association (BCLCA) when Penny also pointed to the upgrade of the it pressed the province to halt the loss of RV Sea-to-Sky Highway between Vancouver and sites during the real estate boom of the mid- Whistler as a factor facilitating improvements. Photo: LandQuest Realty Corp.

PETER MITHAM

The campground at Porteau Cove Provincial Park south of Squamish received electrical hook-ups, while Whistler RV Park and Campgrounds opened last year with 102 sites for RVs and 44 tent sites.Riverside RV Resort and Campground also expanded, highlighting the optimism that an improved highway and exposure during the 2010 Winter Olympics will draw in campers. Penny, however, said campground operators face challenges from south of the border. Rates are competitive at U.S. campgrounds, and the exchange rate makes them that much more so. “With the dollar being $1.05 and the differential in the gas price, there’s a lot of pressure to go south as opposed to going east or north,” he said. “The buying power is that much more.” Still, shifting exchange rates are nothing new. Stan Duckworth, who operates Fort Langley Camping at Metro Vancouver’s Brae Island Regional Park in Fort Langley and is vice-chair responsible for campgrounds with the BCLCA, said exchange rates have largely prevented U.S. travellers from venturing north. The good news is the large population o f Metro Vancouver has delivered a steady stream of people looking for getaways close to home, while the high cost of establishing new campgrounds in attractive sites in the densely populated Lower Mainland has also helped keep local operators strong. There is also a strata trend developing, where indivdual RV and camping sites are sold rather than rented. Re/Max of Nanaimo is offering 26 RV lots at Sproat Lake near Port Alberni for $169,000 each; and, in the northern Cariboo,a lakefront RV camp site at Witch Lake goes for $88,500 and includes boat moorage and private docks, according to LandQuest Realty Corp. A limited supply of sites and strong demand from a new generation brings up other challenges, though. Most B.C. campground operators are older than 50 years. But operators face a significant tax hit if they wish to pass a business on to family, while those most keen to pur chase are often developers with an interest in the future redevelopment of the sites.◆

-PXFS .BJOMBOE Sutton Premier Realty

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PORT KELLS 2 2ACRE PARCEL BOTH PROPOSED 15-25/ACRE MED/ HIGH DENSITY. 1.69 mil 17006 96 Ave bare

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land MLS f1029082 1.49 mil 17072 96th Ave 2400sq hse w/large ware house MLS f1029083 1.2 Acre. 24th Ave., Granview Heights. NCP 4 - 15 UPA near Walmart.

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A14 Lower Mainland

www.westerninvestor.com JUNE 2011WESTERN INVESTOR

When it comes to commercial real estate, use a REALTOR速 and get back to business. www.howcommercialrealtorshelp.ca

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A15

WESTERN INVESTOR JUNE 2011 www.westerninvestor.com

COVER “Ghost� stores haunt Vancouver merchants but proponents say fast outlets a wave of the future

1PQ VQ SFUBJM important – by definition, pop-up is not consistent.�

SUSAN M. BOYCE WESTERN INVESTOR

4

An alternative form of sticks and brick retail, pop-up is a simple concept – at least on the surface. Landlords turn the liability of a temporarily empty warehouse or shop into a short-term moneymaker by renting to vendors staging fast-paced, strictly time – limited sales events. Occupancy ranges from a single day to several months and is often linked to seasonal events such as Christmas and Halloween. Pop in, pop up, pop out. Landlords make money, retailers make money, consumers gain access to great prices and unusual product. Pop-up can also be an effective method to liquidate overstocked and outdated merchandise or bankruptcy inventory. However, like most simple concepts, there’s a flip side to this phenomenon – one that many industry watchers and insiders don’t like. Annette O’Shea, executive director of the Yaletown Business Improvement Association, describes pop-ups as “ghost retailers� comparable to any other fly-by-night operation and stresses it’s the epitome of buyer beware because once a pop-up has popped out, there’s no way to return a faulty or unwanted product. She refuses to patronize any pop-up outlet. “Pop-up retailers also have no incentive to care about a neighbourhood’s reputation,� O’Shea said, adding that even during the hype of the 2010 Olympic Games, Yaletown imposed a minimum 30-day lease on vendors who applied for pop-up locations. “For us, the consistency of the Yaletown brand is extremely

Details of lease rates appear sketchy at best. The most common phrase landlords use to evade answering the cost question is that “every case is different.� Most leasing agents refuse to talk about pop-up retail at all, saying it’s a direct negotiation between retailer and landlord. Matt Thomas of Avison Young Commercial Real Estate sums up what many other leasing agents only imply. “There’s no incentive for an agent to negotiate [a pop-up deal], because it’s time consuming and we don’t make a commission. Sure I’ll do it as a favour for a friend or to help out a landlord I’ve worked with for a long time, but it’s not something that makes financial sense for a leasing agent,� Thomas said. Thomas adds that while pop-up may help cover the costs of a vacant property, there are risks involved. “Temporary tenants are often very hard on a property. Plus it could mean turning down a high-quality tenant who wants to take possession immediately.� Still, for its advocates, pop-up can be the best of all worlds. Deb Nichol, who is the owner of The Latest Scoop, made the move to a pop-up model in 2004 after almost 20 years of working in retail. “In traditional retail, some months you make a lot, some months you make a little, and others you make nothing. I decided to keep just the ‘happy’ months,� she explained. But beneath her conversational, outwardly breezy attitude lies a sophisticated and meticulously honed system that she describes as “a well-oiled machine.� Nichol personally selects the ever-changing inventory from what she believes to be the best suppliers and brands in each category represented – suppliers who often include Nordstrom’s, Holt Renfrew or other high-end outlets – and then puts an eyecatching discount on the price tag.

Photo: Richard Lam

"HFOU BOHTU

pring’s far from the only thing that’s a-poppin’ in Vancouver. A longstanding regular in major urban centres south of the 49th parallel, pop-up retail is steadily making its presence felt in Canada.

Luke Harrison, retail manager for Rize’s pop-ups: rotating space is offered at $1 “for artisans and craftspeople who want to be part of this neighbourhood but don’t necessarily have the financial resources.�

The Latest Scoop’s selection is dazzling in premises, she had only 12 boxes of stock to its diversity – for good reason. package up. “In a conventional dress shop, you might be walking in and out without ever touching 6 4 USFOE a thing because all you see are dresses,� she Pop-up stores have been a force in U.S. retail explained. “Here, you’ll find evening gowns for some time, and it is not only mom-and-pop next to sporting gear, patio furniture next to retailers trying to cash in. handbags and jewelry. It’s a cool mix of great Discount giant Tiger, which recently began values, so it entices my customers – some- an aggressive push into Canada, has been thing far too many large retailers have stopped sprouting pop-up outlets in New York City for doing.� nearly five years. These include a temporary Clearly, the strategy is paying off. Nichol’s beachwear-exclusive shop in Manhattan last stores are alive with activity, and while she year, and a Times Square outlet that sold only declines to give specific numbers, she does discount air conditioners. comment that her volume is “enviable. I turn Likewise, JC Penny opened a 2,500-squareover 20 to 30 per cent of my stock each week, foot store for only weeks in New York’s and in the 11 weeks I had my last store open on Rockefeller Centre that sold home deco r West Fourth Avenue, I probably sold the equiv- items. The company also opened fashion popalent of what many other local stores sell in a up stores in Los Angeles this year. Other large year.� At the end of her lease, she held a four- retailers that have used pop-ups includeVirgin hour sale exclusively for previous customers. Mobile and Nike, which report they normalPlease see Creatives page A16 When she vacated the 3,000-square-foot

-PXFS .BJOMBOE

ARIZONA INDUSTRIAL PORTFOLIO For Sale or Trade

11.66 ACRES Langley BC

63 UNIT APARTMENT

(Multi-family Preferred)

in Thunder Bay, ON - $2.25M

NNN Investment Opportunity!!! 4 Industrial Properties Offered at: $6,000,000

14 UNIT APARTMENT

PHOENIX, AZ

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Income: $123,575 Property Size: Âą65,000 SF Building Size: Âą8,150 SF Lease Expiration: June 2018

*Occupied by Fortune 500 Company!

*Occupied by Fortune 500 Company!

in Windsor, ON - $490,000 Photos and Details at: www.mshinvestments.com

Call Ralph: 807.623.2333 stjarre@tbaytel.net

Lucrative retail business will carry the mortgage while you enjoy country life & wait for development demands. Two good size homes plus 2400 sq. ft. of RU-9 retail business & buildings. Great location, super future opportunity, with excellent income from a very lucrative business. New Price! Call Vic for info package and pictures.

Vic 1-855-506-1551 vic9@telus.net Macdonald Realty Olympic

INVESTING IN MANUFACTURED HOME PARKS s ,OW VACANCY RATES WITH STEADY CASH FLOW s %ASILY OPERATED BY ABSENTEE OWNER s 4ENANTS OWN THEIR OWN UNIT AND MAINTAIN PAD SPACE s 2ENTS INCREASED WITH AN INFLATION FACTOR

CASA GRANDE, AZ

TUCSON, AZ

Income: $78,000 Property Size: Âą1.978 acres Building Size: Âą11,894SF Lease Expiration: January 2013

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PARKS FOR SALE AT PRESENT 0ARKS IN THE &RASER 6ALLEY PADS n PADS CAP PAD 0ARK PLUS 26 SITES IN !LBERTA CAP RATE WITH GREAT UPSIDE

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Other Mobile Home Parks coming up in Lower Mainland and Alberta on City services. Call to get on the wait list for information.

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A16 Lower Mainland

www.westerninvestor.com JUNE 2011 WESTERN INVESTOR

$3&"5*7&4 from A15

ly use the outlets to test new brands before a national rollout.

FOR SALE Westview Town Houses

Twelve 2 bedroom, ocean view town homes in 2 buildings plus pay-per-use laundry in a separate utility building. Good location on main street with easy access to public transportation. $699,000 www.WarrenBehan.com

1- 877- 485-2324 warren@warrenbehan.com

FOR SALE ABBEYFIELD HOUSE

$1,300,000

PORT COQUITLAM 4 LOTS APPROVED FOR SUBDIVISON

$1,295,000

LANGLEY

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

FLEETWOOD

4 LARGE LOT SUBDIVISION

$1,499,000

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16 ACRES + LARGE HOME

$2,100,000

11030 River Road, North Delta, B.C.

SENIORS HOME BUILT IN 1998

Please visit our website or call for more details.

SHANNON KIGER 604 805-8350

monarkinvestments.ca

604-592-7250

Financing Available. Potential Trades.

RareFOR SALE Opportunity

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www.KafkaRealEstateTeam.com TRUDE KAFKA cel: 604-791-1304 email: trudek@smartt.com Homelife Glenayre Chilliwack Realty Ltd.

Lac La Biche, AB – 58 pads, 157acres ..... 3,000,000 Houston, BC – 113 pads, 22 acres ........... 1,400,000 Hope, BC – 40 pads , 4.05 acres.............. 1,100,000 Cherryville, BC – 25 pads, 22 acres.............. 750,000 Houston, BC – 37 pads, 3.5 ac .................... 750,000 Langenburg, SK – 60 pads, 14 ac ................. 525,000 Houston, BC - MH & RV Park, 40 ac+/- ....... 399,000

GAS STATION, C-STORE, LIQUOR STORE, PIZZA SHOP, 4 BDRM LIVING ACCOMMODATION UPSTAIRS (BUSINESS ONLY) PRICE: ONLY $219,000 OR BUSINESS W/LAND & BUILDING $1.85M

Homelife Glenayre Realty

Agents say there is no incentive to make a [pop-up] deal because there is no commission

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

2 MORE GAS STATIONS WITH LAND AND BUILDING (LOWER FRASER VALLEY AND UPPER FRASER VALLEY) $1.99 MIL EACH

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

FRASER VALLEY INDO CANADIAN GROCERY STORE and FRESH PRODUCE $249,900 (BUSINESS ONLY)

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MORE DETAILS CALL:

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Using pop-up retail as a living lab, a test ground for new products or new marketplaces, could become part of the shifting retail landscape. “The potential to test a new marketplace while maximizing your advertising budget is huge,” said David Ian Gray, president of Dig 360º Consulting Ltd. “But you need to be clear about what you want from doing this. For someone like Deb, it’s all about selling. On the other hand, if your main purpose is creating brand awareness, then you should focus on the best, most innovative features about your products and your company.” Craftspeople and other creatives love the opportunity pop-up creates to showcase their art without the financial and time restrictions of a long-term lease – but they have to make the grade for quality and originality. Salima Karim, leasing co-ordinator at City Square Shopping Centre in Vancouver, says a crucial part of the selection process for shortterm tenants is the ability “to provide shoppers with something different than they ever expected to find in our mall.”

GAS STATION WITH LAND & BUILDING $2.8 MIL FRASER VALLEY

UÊ-ÕL ` Û `>L iÊ£{³ VÀiÃÊ*>À>` Ãi UÊ À iÀÊ/À ÕÌÊ >À Ê> `Ê ÕÃi UÊÎÊ >ÌÕÀ> Ê > iÃ]Ê-«À }ÃÊEÊ Àii UÊ*À Vi`ÊÌ ÊÃi ÊfÇ n]xää

5FTU HSPVOE

This spring, developer Rize Alliance took the concept one step further with Rize House Pop-Up Retail. Located at West 10th Avenue and Kingsway in Vancouver, Rize House is part of the company’s community outreach program. Each month, two pop-up retail spaces are made available to carefully screened local artisans at a cost of $1 for the month. April saw Hamburger Disco, a tee-shirt company with an off-the-wall attitude and funky, 1970s disco-themed product share space with Isabelle Dunlop’s limited-edition, vintage-inspired fashion and jewelry. The combination was, according to Rize’s Luke Harrison, electric. In May, lifestyle publication Ion magazine took over the low-cost space. “Main Street has always been known for its innovative proprietors,” Harrison said. “This is an opportunity for artisans and craftspeople who want to be part of this neighbourhood but don’t necessarily have the financial resources.” Still, he’s also pragmatic, noting the relationship is symbiotic because it brings traffic into the Rize presentation centre. Will pop-up become a trend? Most say no. But for trailblazers like Nichol, pop-up is a wave of the future. And she’s firmly positioned herself to ride that wave to success.◆

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CHILLIWACK – PUB & LIQUOR STORE & RESTAURANT excellent money maker REDUCED $2.4 Million. Great lease. SELLER MOTIVATED! TRY YOUR OFFER!

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A17

WESTERN INVESTOR JUNE 2011 www.westerninvestor.com

FEATURE Billion-dollar Timberwest bid tied to forest recovery - and access to massive Island land holdings

JOEL MCKAY/BIV WESTERN INVESTOR $1 billion bid for TimberWest has some debating whether it’s a vote of confidence in coastal forestry or Vancouver Island real estate.

"

“I think it’s both,” said Paul McElligott, president and CEO of the Vancouver-based timberland outfit. “There aren’t that many baskets of 800,000 acres of fee simple land available for growing trees and developing real estate.” In April, British Columbia Investment Management Corp. and the Public Sector Investment Board, two of Canada’s largest pension funds, tendered a $1.03 billion cash offer to buy TimberWest. If the bid goes through, Canada’s soldiers, sailors, police officers and some 440,000 residents of B.C. will own the largest chunk of private forest lands in Western Canada. That’s a key asset in a country where more than 90 per cent of all timberlands are Crownowned, said McElligott. The company owns 808,000 acres of private land on Vancouver Island, where it harvests logs and sells land through its Couverdon real estate arm. TimberWest’s assets stretch from the southern tip of the island to Campbell River, butting up against several towns along the way. Campbell River Mayor Charlie Cornfield said the company owns some 7,000 acres of land in his city. Campbell River is already working with Couverdon on a 65-acre development called Jubilee Heights. That coupled with a $1.35 billionBC Hydro

project to upgrade the local dam will bring significant investment into Campbell River and increase the value of nearby land, Cornfield said. TimberWest also owns swathes of land near Courtenay, Comox, Nanaimo, Ladysmith, Duncan, Lake Cowichan and Port Renfrew. In order for some of those municipalities to develop, they need to buy land from TimberWest. “We virtually surround … Ladysmith,” McElligott said. But Vancouver Island’s real estate market needs to pick up for TimberWest’s land to pay off for investors. According to the Canadian Mortgage and Housing Corp., housing starts in the Victoria region were down 34 per cent in March compared with the same month last year. Housing sales are down 7 per cent from a year ago.

-BOE QSJDFT EPXO

Even TimberWest has conceded that its land is less valuable for real estate development than originally thought. The company slashed the amount of land it believes has a high potential for development to 56,000 acres compared with the 134,000 acres it reported last year. That means only 7 per cent of TimberWest’s land base has a high potential for development. And that’s why David Elstone believes the pension plans are banking on the coastal forestry sector. “I think they’re looking at TimberWest as a timber play as opposed to a real estate play,” said Elstone, an analyst with Equity Research Associates. “Not to say there isn’t components of it [for real estate], but you’d definitely be looking at that land based

Photo: Dominic Shaefer

5JNCFS PS SFBM FTUBUF

TimberWest CEO Paul McElligot: forestry company owns 808,000 acres of private land.

on the cash generation you get from growing and harvesting timber.” TimberWest sold $217 million worth of logs last year while real estate sales totalled $14 million.

'PSFTUSZ JNQSPWFT

Meanwhile, three years after one of the worst cyclical downturns in the history of the forestry sector, the survivors are back in the black. “The last two to three years have been really difficult, but I have to tell you there’s been a whole lot of positives that have come out of one of the worst recessions I’ve ever been in,” said Dominic Gammiero, chairman and CEO of Western Forest Products. Late last year, the Duncan-based lumber producer climbed into positive territory for a fourth consecutive quarter, started its Ladysmith sawmill and added 170 employees to bring its total employment to 1,606. It’s a remarkable turnaround given the nearcrushing blow the industry was dealt when the U.S. housing market collapsed a few years ago, effectively crippling Canada’s number 1 buyer. Between 2007 and 2009, B.C.’s forest industry shed 32,200 jobs. Nearly four dozen mills

in B.C. were shuttered between 2007 and 2009, according the Forests Ministry. Outgoing Canfor president and CEO Jim Shepard called it the “worst market condition of a lifetime.” The savior that came galloping to the rescue was China. With an emerging middle class and a population in excess of 1.3 billion, the Asian giant was on the hunt for natural resources to feed its red-hot economy. About the same time, Russia, one of the largest suppliers of logs to China, implemented an export tax on raw logs. That caused the Chinese to look elsewhere for logs, notably B.C. Meanwhile, the provincial government began organizing trade missions to Asia, rounding up executives from various companies to spread the word about B.C. wood products. “It’s just really been a real success story for the industry,” said Chris McIver, vice-president of lumber sales and corporate development at West Fraser Timber. “Today, we are shipping to China the equiv alent production of four of our sawmills, … hundreds and hundreds of our employees are working today because of our sales success in China,” Shepard added.◆

-PXFS .BJOMBOE INVESTMENT AND BUSINESS OPPORTUNITIES ABBOTSFORD – MULTI-FAMILY SITE

ESSO STATION – LANGLEY, BC

Approx 1.4 acres, approved for 100 unit apartment building ......$2,975,000

GROUND FLR: Gas bar/ C-store, Post office. 2nd flr: 4 - 2 bdrm apts. Each unit self contained. .....................Land, Building & Business $2,850,000

SURREY – ESSO GAS BAR / C-STORE with property .$2,600,000 Business only .................................................................................. $495,000

MAPLE RIDGE – 10 ACRE DEVELOPMENT SITE on Thora Hill. Not in ALR...............................................................$2,988,000

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HARRISON 1.23 ACRE LOT For potential residential subdivision or townhomes .................... $595,000

LOWER MAINLAND Established C-store/ produce & flowers. Daily sales $3800+. Rental income. .......................$2,000,000 with property or business only $498,000

machines plus dry cleaning. Servicing Whistler & Squamish. Own strata building. ..............................................................................................................$1,800,000

ABBOTSFORD COFFEE

FRASER VALLEY JUGO JUICE

BOTTLE DEPOT - ENDERBY, BC

Established franchise. Busy strip mall location. .......................... $198,000

Encorp license Bottle Depot. Business with property. ...............$445,000

PUB/LIQUOR STORE – BARRIERE, BC Renovated 25 unit motor inn

KAMLOOPS BC

with manager’s suite, restaurant, pub/liquor store. ...................$2,450,000

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

INVESTMENT PROPERTY – LANGLEY, BC Approx 39,000 sq. ft. Currently used as auto repair. Plus 3 bdrm apartment. .............................................................................. $1,500,000

Specialty coffee/café in a busy strip mall ..................................... $129,000

Free standing building. Gas bar leased to 7-Eleven, 5 yrs + 2 -5 yr options. Net income to owner $84,960 per year. ................................. . $1,350,000

FRASER VALLEY GAS BAR 50% Share for sale in a high volume. Petro Canada gas station/ C-store + propane .................................................................. Business only $385,000

HOPE BC – UPA NAPA PARTS STORE

BOTTLE DEPOT – TRAIL BC

Land & building .............................................$1,350,000 + inv. $600,000

Land, Building & Business. Encorp license, depot, electronics, paint care plus a 3 bdrm living accommodation. ................... $895,000

ABBOTSFORD, BC PRIME CORNER

GREAT HOLDING PROPERTY Hold & operate a well established

(Mission/Abbotsford)

ÃÌ>L à i`Ê Ê £ Ê UÊ ÝVi i ÌÊ iÝ« ÃÕÀiÊ Ê >À}iÊ > °Êf£°È Ê> Õ> ÊÃ> iðÊf£Çn]äääÊ iÌ

$358,000 + inv.

TED STELLAKIS

NAI COMMERCIAL Èä{°È £°ÈÈ ÓÊÊUÊÊÊ stellakis@naicommercial.ca

SORRY, YOUR AD IS MISSING...

Commercial Development Land. Approx 18,000 sq. ft. 3 rentals on property. ................................................................................................... $1,400,000

business in the Fraser Valley. 20 lane bowling alley, food & liquor licence, ample parking, recent updates and renovations. ......................$ 3,695,000

ALDERGROVE, BC FREE STANDING BUILDING

GAS STATION – ALDERGROVE, BC.

Gas bar leased to 7-Eleven. Net Income $100,000 per yr. ......... $1,900,000

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

ABBOTSFORD – PRIME 5 UNIT COMMERCIAL BLDG.

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

DOLLAR STORE FRANCHISE

South Fraser Way, 6568 sq ft, 4 solid tenants with 5 yr leases. 1vacant unit. Net income $89,088 escalating to $111,837/yr. ....................... $2,100,000

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

COMMERCIAL REAL ESTATE, FRANCHISES & BUSINESS OPPORTUNITIES IN WESTERN CANADA

For advertising information call 604-669-8500 or 1-800-661-6988 toll free anywhere in Canada or the USA.

A18 Lower Mainland

www.westerninvestor.com JUNE 2011WESTERN INVESTOR

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Macdonald Commercial Real Estate Services Ltd. FOR SALE: 2126-2168 YUKON STREET, VANCOUVER, BC | DAVE WATT

KELOWNA GOLF RANGE FOR SALE | Land, building & business | GARY KHAN •

Approx. 10 acres in ALR. List Price: $1,975,000 PRICE REDUCED: $1,925,000 CONTACT: GARY KHAN | 604.714.4799

FOR SALE: STRATA RETAIL OPPORTUNITY | FULLY TENANTED| BRIAN TATTRIE

555 North Road, Coquitlam, B.C. • • • • • • • •

Prime corner, one block east of Cambie Street 20,200 sq. ft. building on an 18,101 sq. ft. site Owner/occupier potential along with income from solid tenancies Asking $5,400,000 CONTACT: DAVE WATT | 604.714.4775| dwatt@macrealty.com

FOR SALE: LAND, BUILDING & BUSINESS IN KOOTENAYS, BC | ALI MOHSENI • • • •

Well established appliance / furniture store in Kootenays (Trail, BC ) Land, building and business Building size is approx. 33,000 sq. ft. on a 1.5 acre lot. List Price: $2,000,000

• •

Unit 2, 260 East Esplanade, North Vancouver, BC 1,987 sq. ft., grade loading, air conditioned. Price: $510,000 CONTACT: STUART WRIGHT | 778.859.2407 | swright@macrealty.com

COURT ORDERED SALES • •

2 retail strata units, Langley: $599,000 Heritage Office Building, New Westminster: $1,450,000 CONTACT: BRIAN TATTRIE - 604.714.4783 | GARY KHAN - 604.714.4799

FOR SALE: KITSILANO UNIT ; FOR LEASE: KERRISDALE RETAIL | ERIC POON

CONTACT: BRIAN TATTRIE | 604.714.4783 | www.briantattrie.com

HOTELS FOR SALE | HAMIR BANSAL FOR SALE: 100-ROOM FULL-SERVICE FRANCHISE HOTEL in Vancouver •

•

FOR LEASE: Prime Kerrisdale retail space on West 41st Avenue. Up to 5,209 sq. ft. CONTACT: ERIC POON | 604.714.4768 | www.EricPoonCommercial.com

Please enquire

FOR SALE: 94-ROOM HOTEL | 30 APARTMENTS in Prince Rupert Includes 5 retail leases, and hotel rooms are full service. Asking $5,000,000

•

FOR SALE: 84-ROOM FRANCHISE HOTEL in Lower Mainland •

Full service. Asking $10,500,000

FOR SALE: 41-ROOM HOTEL in Lower Mainland Limited service, not franchised. Asking $4,500,000

•

FOR SALE: 25-ROOM HOTEL in Hope • • • •

New franchise, all upgrades completed Includes 3-bedroom house One hour from Vancouver Asking $1,800,000 CONTACT: HAMIR BANSAL 604.724.8116

FOR SALE: SURREY, ABBOTSFORD PROPERTIES | MIKE GREWAL & VIC SANDHAR 7767 128th STREET, SURREY: ± 1.844 acre high exposure industrial/commercial site. Asking $4,290,000

•

8220 120th STREET, SURREY: ± 27,000 sq. ft. high exposure retail/commercial redevelopment site. Stand alone ± 12,000 sq. ft. building currently set up for restaurant/banquet hall business. Asking $1,750,000

•

•

FOR SALE: Kitsilano Strata unit, fully leased, 1,363 sq. ft., 5% return. Price: $689,000

•

•

FOR SALE: KAMLOOPS 67-ROOM BOUTIQUE HOTEL | BRIAN TATTRIE

CONTACT: ALI MOHSENI | 778.840.8405 | amohseni@macrealty.com

FOR SALE: RARE INDUSTRIAL WAREHOUSE W/OFFICE | STUART WRIGHT

Available as either individual or bulk sale • Net income $176,059 • Asking $3,100,000

5 commercial strata lots 24 parking stalls Across from Lougheed Town Centre Currently 100% leased to 6 tenants

17351 16th AVENUE, SOUTH SURREY: ± 14 acre residential development site.

Asking $4,780,000 •

29352 FRASER HIGHWAY, ABBOTSFORD: ± 14 acre agricultural site fronting

Fraser Highway. Asking $1,795,000 CONTACT: MIKE GREWAL or VIC SANDHAR | 604.590.2444 mgrewal@macrealty.com, vsandhar@macrealty.com

Vancouver: 604.736.5600 | Fraser Valley: 604.590.2444 | www.macdonaldcommercial.com

A19

WESTERN INVESTOR JUNE 2011 www.westerninvestor.com

FEATURE Low land prices, strong demand make suburban giant a hit with residential and office developers

4NJMJOH JO 4VSSFZ WESTERN INVESTOR vailable land, a pool of skilled workers and investment by three levels of government fuel a residential construction boom in Surrey’s new city centre

"

When WestStone Properties Ltd. started presales in February 2010 for its new 36-storey Ultra 3 residential tower in Surrey, it sold 150 units by October, with sales worth $38 million. “It’s such a popular location, we didn’t even have to advertise it,� said Robert Dominick, WestStone’s vice-president of sales and marketing. That “popular location� is Whalley. Once known more for its high crime rates than its highrises, Whalley is undergoing a makeover that is making it a desirable place to live. Affordability also has a lot to do with the area’s sudden popularity, say developers. At the Ultra, a studio apartment can be bought for $182,900; a penthouse suite goes for $786,900. Another new residential tower going into the Whalley area – the Quattro 3 – has average prices of $200,000 per unit; a studio apartment can be had for $149,000. “This is the only place where I can afford to build something of this calibre and for that kind of price,� said Charan Sethi, president of the Tien Sher Group of Companies, which is building the multi-phase Quattro development. “If I bought the same amount of land in Richmond it will cost me three times more.� The median price for a new condo in Burnaby is $368,000, and in Vancouver it’s $400,000, according to the Urban Development Institute. The City of Surrey has been focusing development in the Whalley area and rebranding it

as its new city centre. Several residential highrises are either under construction or in the works, and Dominick believes a commercial development boom is not far behind. “Surrey is really open,� Dominick said. “It offers businesses a lot of relocation space. “When you look at Metro town [in Burnaby)] and how that’s built up over the years, I think Surrey is going to be even more of a catalyst than that was, simply because of the available workforce and Charan Sethi, president of the Tien Sher Group of the affordability of relocat- Companies, announces the building of the next phase in its ing or starting a business in Surrey Quattro development. “If I bought the same amount of land in Richmond it will cost me three times more.� Surrey.� Surrey was named by the Real Estate Investment Network of Canada last year as the 8IBMMFZ SFWJWBM best place in B.C. to invest in the residential The City of Surrey has been investing heavily real estate market, and the fourth-best city in in Whaley’s makeover and so have other levels Canada in which to invest. of government. The city issued building permits last year for A new $1 billion headquarters for the $1.2 billion worth of construction work. RCMP’s “E� division is going into the city “The residential growth is definitely the centre, Surrey Memorial Hospital is understrongest component,� said Mike McGee, an taking a $500 million expansion, and a new analyst with the Surrey’s economic develop- public library is planned to open in the fall of ment office. 2011. There are three large residential developSethi said he believes the boom is being ments underway in the city centre and several fuelled largely by land availability. Surrey is not squeezed for land the way cities like more in the works. Concord Pacific Developments Inc . is Richmond and Port Coquille are. With 317 square kilometers of land, Surrey building two 36-storey residential towers (Park Place) and has long-term plans for four more. still has plenty of room for development and Tien Sheer’s Quattro development will is close enough to Vancouver that it is an result in 1,900 units built over 10 years, and increasingly desirable place to live for people WestStone just recently turned sod on a new who work in Vancouver but can’t afford to buy a 36-story residential tower as part of its Ultra there. The $35 million Quattro 3, now under conUrban Village project. Photo: Peak Communicators

NELSON BENNETT/BIV

struction, will see 165 units added to the 256 units previously built and occupied in Quattro 1 and 2. Tien Sher recently added more land to the mix, bringing the total parcel of land for Quattro up to 12 acres. It’s projected that the total build-out of the development will be worth $700 million. The Ultra 3 tower now under construction is one of five to be built over the years. The total package – seven buildings, including five towers – represents a projected $1 billion in value. The project, at completion, represents 2,500 homes. Sethi said the current development plans for Quattro 3 do not include a commercial component. “Right now, I personally feel there is enough [retail] there to satisfy everybody’s needs,� Sethi said. “As the area grows, there will be more and more [commercial development] happening.�

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That is certainly true in the office sector, which is also seeing an increase in building. Vacancies in Surrey’s office market hit a record low at the end of 2010, but the outlook for 2011 points to a sharp rise. Brokerage firm Avison Young is forecasting vacancies across Surrey to reach 7.1 per cent in 2011, up from 2.5 per cent at the end of 2010 given the volume of new construction planned for the city. But Avison Young principal Darrell Hurst believes the actual scenario may not be so dire. “It’s just to give us some sense of what may happen,� Hurst said, noting that the forecast doesn’t account for releasing in the 198,000 square feet set to complete in three projects this year, nor additional deal activity. But with demand in Surrey’s downtown core alone trending in excess of 300,000 square feet a year, Hurst is optimistic.“We fully anticipate that we will exceed the historical average [absorption], and we won’t get as high as 7 per cent,� he said. Hurst said interest in Surrey from large-scale tenants is beginning to increase.◆ – With files from Peter Mitham/BIV

-PXFS .BJOMBOE DEVELOPMENT PROPERTIES

Business Opportunity

s &ROM TO TOWNHOUSE OR APARTMENT CONDO SITES IN ,ANGLEY #ITY ,ANGLEY 4OWNSHIP 3URREY OR !BBOTSFORD

Mushroom Farm For Sale

s &ROM TO UNIT MIXED RESIDENTIAL USES

Includes:

s -ISSION -APLE 2IDGE AC SUBDIVISION

,AND s "UILDINGS s %QUIPMENT s "USINESS

s ACS !LBERTA GREAT SUBDIVISION SITE s 3EVERAL ,ANGLEY RESIDENTIAL DEVELOPMENT SITES TO HOLD FOR A COUPLE YEARS PRICED RIGHT

NOI: Over $300,000/yr ASKING $2,100,000

RICHARD KENT WOLSTENCROFT

OfďŹ ce: 604-530-0231 #ELL RICHARDKENT SHAW CA

RAY LEWIS West Coast Realty LANGLEY

604-812-9733

33 SUITE APARTMENT BLDG 1835 McLean Drive, Vancouver BC Far Below Market Rents $6,400,000 BeneďŹ ts I provide at My Cost to Owners of Properties I list include: UĂŠ*Â…>ĂƒiĂŠÂŁĂŠ Â˜Ă›ÂˆĂ€ÂœÂ˜Â“iÂ˜ĂŒ>Â?ĂŠ ˜>Â?ĂžĂƒÂˆĂƒ UĂŠ Ă•ÂˆÂ?`ˆ˜}ĂŠ œ˜`ÂˆĂŒÂˆÂœÂ˜ĂŠ ĂƒĂƒiĂƒĂƒÂ“iÂ˜ĂŒĂŠ,iÂŤÂœĂ€ĂŒĂŠ (Professional Engineer or a qualiďŹ ed inspector, depending on the size of the property)

Contact: NEAL IVERSON

NCI REALTY LIMITED 200 – 1687 West Broadway Vancouver, BC V6J1X2

Email: neal@ncirealty.ca Direct Line: 604-724-9524

R E N O VAT I O N COMPANY FOR SALE Well established, grossed over $200,000 a year and growing. Great opportunity for hands-on operator or run it along with your full time position. Included are: newer Sprinter van with a powered dump trailer, uniforms, tools, iers, website, wireless card system, marketing tools. $48,000 OBO

Mixed Use Building 300,000 Gross sq. ft. High yield opportunity. Landmarked building, Downtown Chicago, Irreplaceable location

Self Storage & Joint Venture Opportunities Available United States of America

Michelle Watson 480-326-9520

michelle.watson@marcusmillichap.com

Contact williamsdaniel688@gmail.com for more info

Call Today For Your Management Proposal!!

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

A20 Lower Mainland #SJUJTI $PMVNCJB

Housing “boom� silent out of city

T

he loud B.C. housing boom that has made Vancouver the most expensive market in Canada quickly falls silent once you get out of town. A driver heading southeast from the west side of Vancouver, where prices surpassed $1.9 million in April, will find houses priced at less than 25 per cent of that within 40 minutes. Some Fraser Valley community house prices haven’t risen in four years and sales are flat. In Abbotsford, for example, average house prices are 3 per cent lower now than three years ago, at around $420,000. In Chilliwack sales are down 9 per cent from a year ago and sales volumes are off nearly 20 per cent. The urban-small town price chasm is even more pronounced when one moves out of the Lower Mainland, according to the BC Real Estate Association. Residential sales in the South Okanagan are 30 per cent lower this spring than in 2010 and MLS sales volumes are down 32 per cent, with a similar trend in the Kootenays. Vancouver Island housing sales are running 10.7 per cent behind 2010, which was not a strong year. Victoria has seen residential sales fall 17.4 per cent this year, with dollar volumes down 21 per cent, the association reports.

short to medium term, the option to purchase is appealing to many owner-users,� Avison Young explained. According to the semi-annual report, pentup demand propelled industrial deal velocity in 2010, particularly in the second half of the year. This increased activity is anticipated to continue in 2011 as cap rate compression stagnates. According to Avison Young principal John Lecky, more industrial tenants are looking for relocation opportunities as the market outlook improves. Renewed economic confidence is also generating investor interest in industrial real estate, he says, but that enthusiasm may be tempered by a limited supply of available real estate product. Metro Vancouver’s industrial vacancy rate continues trending lower year-over-year as the lack of land and new development pushes lease rates, as well as deal and dollar volumes, higher. Overall vacancy currently sits at 4.5 per cent compared with 4.7 per cent in spring 2010. Vacancy will remain low due to a measured increase in speculative supply brought on stream by the handful of large developers that control the majority of the industrial market, according to the report. “You are going to see more [strata] construction in 2011,� said Lecky. “The combination of low interest rates and increasing land and construction costs provokes users to seriously contemplate strata ownership versus lease obligations.�

Pacific drops out of pipeline play

Inflation fears driving strata P industrial demand

acific Northern Gas Ltd. is dropping out of a pipeline project planned in northwestern B.C. The company plans to sell its 50 per cent stake in Pacific Trail Pipelines Ltd. (PTP) for ears of rising land and lease costs and $50 million to Apache Canada Ltd. and EOC the low cost of borrowing continue to Resources Canada Inc., PTP’s other project drive demand for strata industrial space partners. across Metro Vancouver, according to a Following the sale’s completion Apache and report from Avison Young. EOC will own 50.5 per cent and 49.5 per cent “Owning real estate is an inflationary hedge and with such pressures building in the of PTP, respectively.

F

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he Beedie Group is preparing for the construction of the largest single-level warehouse ever to be built in the Lower Mainland in one phase. The 504,000-square-foot facility for tissue-maker Kruger Inc. is another sign that corporate confidence in the region has Largest new industrial building in B.C. under conreturned to pre-recession highs. struction in New Westminster. However, the buzz over the Beedie project, which would be the largest structure in the company’s 57-year history, has overshadowed several underlying Metro Vancouver industrial real estate trends that brokers say include: s MID SIZED COMPANIES INCREASINGLY WANTING TO OCCUPY LARGER WAR EHOUSES OF UP TO square feet; s MORE COMPANIES THAT IMPORT PRODUCTS VIA Port Metro Vancouver (PMV) wanting large warehouse space; and s RENEWED INTEREST IN BUILDING WAREHOUSES LARGER THAN S QUARE FEET Beedie is in final negotiations with the City of New Westminster and PMV to build the Kruger warehouse. Kruger considered a range of options to consolidate two Annacis Island warehouses: one 194,000 square feet, the other 110,000 square feet. The paper products manufacturer has been so pressed for space that it has used some at its New Westminster paper mill for storage and has had to store some products in thirdparty warehouses, said its broker, Cushman Wakefield senior vice-president of industrial properties Bob Stokes. Kruger considered building its new warehouse on PMV land that’s more than a kilometre east of the Beedie site and therefore closer to Kruger’s mill.However, executives decided that hiring Beedie to build the structure on 20 acres of Beedie-owned land was the best option. “Beedie is the best,� Stokes said. “They can build a building better, faster and less expensively than anyone.� Kruger’s future warehouse won’t be Metro Vancouver’s largest. That title belongs to the 685,000-square-foot warehouse near the Braid Street SkyTrain station that Woodward’s built in the 1980s and is now used in part by Best Buy Canada. It has 95,000 square feet of available space. Avison Young principal Rob Gritten believes the recent boom in warehouse construction marks the end to a lull that started during the 1990s when the New Democratic Party was in power and many companies chose to locate in Alberta. “In the last few years there have been several million square feet built in the 400,000square-foot size range alone,� Gritten said. “That’s really unusual for our market. We haven’t seen that before.� – Glen Korstrom/BIV Photo: Beedie Group

8)"5¤4 )"11&/*/( */

www.westerninvestor.com JUNE 2011WESTERN INVESTOR

As part of the deal, Pacific Northern Gas will receive its first payment of $30 million upon closing. It will get the final payment when Apache and EOC decide to proceed with construction of the Kitimat liquefied natural

gas facility. Said Roy Dyce, PNG’s president and CEO, “We did not initiate the transaction, but negotiating with our partners was the right thing to do.�◆

SOUTH OKANAGAN Vineyards & Wineries

24.5 acres with 16 acres in full production. 4 bedroom residence, zoning allows for 10 tourist commercial suites, spectacular views to Osoyoos Lake. Located in the heart of the “Golden Mile�. $2,999,000. MLS # 130194/130195

32 acres in the 'Golden Mile' with 20+ acres in full production. Two residences, fully equipped 8000+ sq.ft. winery + temperature controlled 3000 sq.ft. storage facility, rated Class I for grape growing with unique terroir. Asset sale. Exclusive – price upon request.

Keith Jakes, Dianne Van Schilt 250-492-2266 e-mail KEITH

PENTICTON REALTY

MRJAKES COM s view at www.mrjakes.com

Keith Jakes Personal Real Estate Corporation

Lower Mainland A21

WESTERN INVESTOR JUNE 2011 www.westerninvestor.com

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Ǥ Ǥ Disclaimer: The information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same VKRXOG QRW EH UHOLHG XSRQ ZLWKRXW LQGHSHQGHQW YHUL¿FDWLRQ +4 5HDO (VWDWH 6HUYLFHV ,QF 5HDO (VWDWH %URNHUDJH

ĊĆđ ĘęĆęĊ ĊėěĎĈĊĘ ēĈǤ 530 - 1285 West Broadway Vancouver BC V6H 3X8

604 899 1122

A22 Lower Mainland/Sea to Sky/Vancouver Island SUNSHINE COAST, BC ML#V4021517 “The Dock” in Sechelt Now $1,399,900 Main street, downtown location with excellent exposure in Sechelt. 2 level building with retail, store, offices and zoned for residential above. High traffic area with lots of parking. 10 tenancies in place, many long term and great cap rate. Call Terry for more info.

ML#V4024655 Main Street, Sechelt

$879,000

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

TERRY & PAM BRA CKETT 1-800-895-4313 terry@thebrackettgroup.com Remax Oceanview Realty SECHELT

LIST

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

1-800-661-6988

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QUALITY SERVICE QUALITY HOMES QUALITY PEOPLE

SQUAMISH INVESTMENTS Retail/Office Strata 872 sf with retail finishing $199K Court Ordered Sale 6,000 sf lot downtown. SOLD I-1 Revenue Property 0.55 Acre, tenants $1.19 Mil 1.1 Acre Duplex Site on Creek Includes house, green space $699k

OFFERING COMPLETE MLS OR WLS LISTING SERVICE FOR YOUR SQUAMISH/WHISTLER PROPERTY

Martin Sprenkels P 604-905-8525 | E MARTIN.SPRENKELS@CENTURY21.CA WWW.MARTINSPRENKELS.COM

* " 7 Ê , 6 , ] Ê

Old House Village Suites & Spa

Cell 250-739-1700

Alan Cavin, BA Business

JORDAN ENG (604) 728-0883 FOR SALE Powell River, BC Alpha Dive Shop UÊ"vviÀ }ÊÀiÌ> ÊÃ> iÃ]ÊÀi«> ÀÃ]ÊiµÕ « i Ì]Ê` ÛiÊ L >ÌÊV >ÀÌiÀ]Ê> ÀÊwÊ ÃÊEÊ` ÛiÊÌÀ> }ÊÃV Ê Ü Ì Ê Êà ÌiÊ« ° UÊ-> iÊ V Õ`iÃÊ Ûi Ì ÀÞÊEÊiµÕ « i Ì°Ê UÊ" ÞÊ` ÛiÊà «Ê ÊÌ Ü UÊ/ÕÀ iÞÊ «iÀ>Ì ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ$125,000

jordaneng@telus.net

Court Ordered Sale 1251-1271 Homer St. 2 storey residential/commercial Downtown development site. 75' x 122' Asking $6,750,000

Performance Realty & Management

PRIME DEVELOPMENT SITE - North Nanaimo - Ocean views - Rare - public institution zoning - church or seniors care facility - high density - 6.2 acre site surrounded by parks- serviced - best area of town Comox Valley - $2.7 mill with church buildings Recreational property

www.acavin.com acavin@shaw.ca

Pub & Real Estate - 4000 sf on over 1/2 Acre 163 seat & BW allowed, redev. potential $735k Prime Retail For Lease 1,200 – 15,000 sf B Park by National Retailers and Hwy 99! Spring 2011 Prime Retail Building Busy Dwtn corner SOLD Mixed Use Building Downtown 67K Potential net income 869K

CONDO LIQUIDATION AND BUILDING LOTS Darren McCartney RE/MAX Sea to Sky 604-892-4875 Real Estate Squamish darren.mc@shaw.ca

£xÊ , -ÊUÊ-+1 - Ê ",/ ÊUÊf ]Èää]äää PRIME DEVELOPMENT LAND IN THE HUB OF SQUAMISH NORTH. PLANNING DEPT OF SQUAMISH SUPPORTS MULTIFAMILY DEVELOPMENT OF THIS PARCEL. FRONTS THE SEA TO SKY HIGHWAY PARCEL IS CURRENTLY BEING CLEARED. - "* - Ê " "ÊUÊ7 -/ ,ÊUÊfÎ ]äää REMODELED UNIT OFFERING THE 3RD FLOOR ADVANTAGE, BIG VIEWS AND LOTS OF SUN! TERRIFIC NIGHTLY RENTAL REVENUE, GUESTS ARE ATTRACTED TO THE LOCATION AND AMENITIES, TERRIFIC WEEKEND GETAWAY. SKI IN/SKI OUT!

JUNE 2011 WESTERN INVESTOR

$4425 week ownership (studio) to $139K for half ownership(1 bedrm) RCI Crown Resort 4500 resorts available Westjet direct flights Gorgeous NEW upscale boutique Hotel and Spa

FOR SALE NEW PRICE $168,000 Well Established Clothing Boutique UÊ `i> Ê` Ü Ì Ü Ê >À iÊÃÌ ÀivÀ ÌÊ V>Ì ÊÜ Ì Ê ÌÃÊ vÊ«>À } UÊ* Ã Ì ÛiÊÀi«ÕÌ>Ì Ê Ê ÜÊ ÛiÀ i>`Ê Ê «« ÀÌÕ ÌÞÊv ÀÊiÝ«> à UÊ Þ> ÊVÕÃÌ iÀÊL>Ãi UÊ-Ìi>`ÞÊ}À ÜÌ ÊÀ>ÌiÊà ViÊÓääÎÊÊÊÊ

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

D SOL

For more info email kathybowes@remax.net

Powell River

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

FOR SALE

SALTAIR SELF-STORAGE FACILITY and DEVELOPMENT PROPERTY Property is located on 3.61 acres in high-growth area with 42.7 meters of frontage on Chemainus Road. Saltair is situated near Chemainus between Ladysmith and Duncan in the Cowichan Valley. Storage Business: Offers 110 selfstorage units plus significant outside storage of boats, cars and RVs on approx 1.21 acres. The storage business currently has an occupancy rate of 89%. Undeveloped Land: Expansion potential with approx 2.4 acres developable land with desirable C2 commercial zoning. OCP designates this area as the principal zone for the community.

John Morris 250.714.9140 saltairltd@gmail.com

Warehouse/Office For Lease 239 E 6th Ave, Van Available immediately. Reasonable rents. 6,242 sf. 18' ceiling height warehouse.

For Lease 485 Commercial Dr at Pender 9,500 sf. Ideal for food service manufacturing. Retail exposure. Corner location. Close to DT and transport routes.Low rents.

Parking Lot For Lease East 6th Ave & Main 100' x 120'. Available immediately.

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

A23

WESTERN INVESTOR JUNE 2011 www.westerninvestor.com

FEATURE $404 million high-power transmission line expected to juice the economy of northwest B.C.

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ordon Loverin has waited decades to see something, anything, kickstart the economy in northwest

B.C.

Like many others in the northwest, Loverin has watched investment drive development elsewhere in B.C while businesses in the northwest shut down mills and plants against the ebbing tide of a dwindling forest industry. That is, until now. In March, the province approved the $404 million Northwest Transmission Line (NTL). The 344-kilometre line, which would extend north along Highway 37 from Terrace to Bob Quinn Lake, would not only bring a number of off-grid communities onto the grid, but also provide the power needed to drive a new era for the region’s resource industries. Proponents say the project is a catalyst for development. Loverin, co-chairman of the Northwest Powerline Coalition, believes it will drive business opportunities in the region for decades. Investment begins with the construction of the line, which, proponents say, would accelerate development of mines and power projects. That, in turn, would generate opportunities for service companies to supply everything from trucks, cranes and tires to beds and food to accommodate workers. Once the snowball begins to roll, Loverin believes it will cascade into other industries as well. “You’ll see an increase in the development of new highway lodges serving the tourism industry,” said Loverin. “One of the most prohibitive expenses has always been generating your own electricity because there’s no power line in the region, so I think there’s an opportunity for tourism … created by First Nations and local

residents.” Although the NTL awaits a final green light from Ottawa, businesses across the province wasted no time last month lauding its provincial approval. In separate releases, Imperial Metals, Copper Fox Metals, Hard Creek Nickel (Columbia Yukon Explorations) and Firesteel Resources welcomed news the project was proceeding.

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Photos: BC Hydro

JOEL MCKAY/BIV

If there was any question as to what industry was likely The Northwest Transmission Line is forecast to trigger $15 bilto benefit most from lion in investments and generate 10,000 jobs. Work has started the transmission line, on the 344-kilometre line, running north from Terrace. the mining sector long speak … they’re coming to Terrace and getting ago answered it. A 2009 report by the coalition outlined 11 quotes on everything from the construction to potential mining projects near the power line the beds they need,” Gauvin said. Calgary-based AltaGas confirmed 30 people route. The report said the NTL could attract more were already on the ground at its Forrest Kerr than $15 billion in investment, create 10,000 project. The $700 million run-of-river hydroelectric jobs and generate $300 million in tax revenue for governments. Although the power line project will deliver power to the grid via the won’t generate juice before 2013, businesses NTL and is expected to employ 350 to 400 people at peak construction. have already noticed a change in the region. Valerie Gauvin, business manager at Terrace-based contractor Progressive (PMEFO 5SJBOHMF Ventures, said the mining industry is ramping Despite the activity, many people in the region up in the area. still wonder if the NTL is big enough to support “There’s at least one or two four- and five- all of the development proposed in the region. hundred-man camps there being built as we “A lot of the talk out there is that this line is

possibly too small,” said Mark Lindsay, manager at Rain Coast Cranes in Terrace. Thanks to its vast mineral wealth, prospectors and explorers have for years referred to the area as the Golden Triangle. According to a 2010 provincial map, there are 20 major exploration projects active in the vicinity of the NTL. The aggregate potential power demand for the 11 projects outlined in the 2009 coalition report topped 700 megawatts. Greg Reimer, executive vice-president, transmission and distribution, at BC Hydro, said the normal capacity of the NTL would be 260 megawatts. That’s less than half the power needed to support the 11 mining projects, but Reimer said the power line would be able to support the expected development in the area. Pierre Gratton, president and CEO of the Mining Association of BC, said it all depends on how many projects come online and at what speed. Then again, development in the region might not take off as quickly as some think. The mining industry is welcoming only its first new major metal mine in the last decade this year, and most of the projects in northwes B.C. are in early development stages. Although many of the projects are quite large, they’re also low-grade, meaning they’re more susceptible to the dangers of low metal prices. Galore Creek, a joint venture between NovaGold Resources and Teck Resources, is considered one of the region’s more valuable projects but has yet to release an updated prefeasibility study. But one company that isn’t holding back on its development is Imperial Metals.

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The Vancouver company’s Red Chris project has most of its permits and is only 23 kilometres from the proposed power line. ChairPierre Lebel believes the only two “actionable” projects in the region today are Forrest Kerr and Red Chris, and he hopes to have his mine built in time for the power line’s completion. “I’ve had no trouble telling people we’ll be the first customer,” Lebel said. ◆

7BODPVWFS *TMBOE

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

A

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

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

Victoria

ED HANDJA PERSONAL REAL ESTATE CORP.

www.bcoceanfront.com

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SUNNY SANCTUARY CAMPGROUND 76-site campground on North Vancouver Island. 4.7 riverfront & oceanfront acres with 10 tent sites, laundry & washroom areas, 2bedroom 1558sqft manager’s home, community water & sewer, Hydro, phone, paved 2-lane roadway, 24x30 Picnic Shelter, Sewer Dump Station, 8x12 hydro shed with 600amp main & 3x200amp sub panels, & a 5’6”x15’6” freezer storage shed. Good Revenue! $595,000

COMMERCIAL RETAIL & SERVICE FACILITY Campbell River, Vancouver Island service commercial complex on a 2.12-acre level corner lot with over 580ft of road front & 14,500sqft of improvements: 6000sqft shop & warehouse with fi ve 12X12 overhead doors, attached 1500sqft show room & office, fully fenced yard & 3000sqft & 4000sqft warehouses. Structures are over height with metal siding & bonded tar & gravel roof. $1,200,000

PORT HARDY, SEAGATE HOTEL North Vancouver Island opportunity! 4 acres of prime ‘downtown’ commercial oceanfront & semi-oceanfront, in 4 titles, adjacent to the government dock: incredible development potential & direct access to superb tidal waters & fantastic outdoor adventure. Zoning allows offi ces, joint commercial & residential uses, hotel, shopping centre, restaurants & more. Court ordered sale. $995,000

WINTER HARBOUR MARINA & RV RESORT A diverse commercial resort operation & a premiere West Coast Vancouver Island fishing destination: 3 adjacent oceanfront properties with a boat launch, 20RV sites, large foreshore lease, substantial standing pier & dock, guest accommodations, fi sh processing facilities & 2bedroom cabin. A business with steady growth well suited as a group purchase for outdoor enthusiasts. $899,000

A24 Vancouver Island

www.westerninvestor.com JUNE 2011WESTERN INVESTOR

Business Is Better On Vancouver Island For Sale 31.83 Acre Industrial Land Parcel - North Cowichan

$3,500,000

Heavy Industrial Zoning. Also available for lease.

2.05 Acre Prime Development Site - North Nanaimo

$2,900,000

On Old Island Highway adjacent to Long Lake.

2.98 Acre Re-Development Site - Central Nanaimo

$2,695,000

On Bowen Road with C-13 (Service Commercial) Zoning.

7.42 Acre Oceanfront Property - Port Renfrew

$2,500,000

Picturesque, untouched parcel at San Juan Point.

New Office and Commercial Building - Central Nanaimo

$1,359,000

1 space left in new building on Terminal Avenue, approx 4,610 sq ft.

Investment Property - Downtown Nanaimo

$ 799,000

7,977 sq ft building on Wallace Street.

Commercial Development Property - Nanaimo

$ 795,000

1.2 acres with C-12 Zoning beside Nanaimo Parkway.

Retail Business & Demolition Contractor

$ 775,000

New and used building materials in Central Island location.

Residential Development Property - Nanaimo

$ 649,000

MAKE MORE DEALS

4.88 acres near the Nanaimo Parkway.

Court Ordered Sale - Waterfront Restaurant, Land, Building

$ 579,000

In Maple Bay. Includes self-contained 1,604 sq ft suite.

Commercial Property - Alberni Highway

$ 590,000

1.11 acres with exceptional highway frontage.

Commercial Properties Zoned C-4 and C-13 - Nanaimo 2 lots on Kerrisdale Road totaling 19,600 sq ft 9,800 sq ft lot with 1,037 sq ft office off Bowen Road

Commercial Zoned Land and Building - Port Alberni

$ 325,000 $ 260,000 $ 245,000

10,956 sq ft lot with 132 ft road frontage and 3,526 sq ft building.

Light Industrial Strata Unit - Nanaimo

$ 214,900

1,493 sq ft in excellent Central Nanaimo location near Parkway.

Featured Listings

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

Green Rock Industrial Park 9,688 to 71,849 sq ft $199,000 to $995,000

22 Light Industrial Lots in prime Nanaimo Location Excellent highway access and “Green� construction.

Seaview Centre - Parksville $110,000 to $325,000

7 strata titled office units ranging from 490 to 1,532 sq ft. Package of 4 available at a reduced price.

Irish Themed Pub & Grill - Lake Cowichan Lakefront pub with loyal customer base. Approximately $300,000 spent on improvements since February 2009. Offer includes land and buildings, including boat dock.

Offered at $775,000 Heavy Industrial Property Located at Duke Point in Nanaimo this 5 acre site is paved and fenced and includes an approximately 18,000 sq ft building.

Offered for sale at $2,000,000 Investment Property - Brentwood Bay 7,417 sq ft fully leased commercial strata unit in professionally managed development.

Offered for sale at $2,395,000 Investment Property

JULY AD DEADLINE: JUNE 13TH

Report: Waterfront real estate Buying a golf course Mobile home parks Forest lands: after the beetle Franchise News Recreational Properties Regional Roundups: BC: Kelowna AB: Red Deer Spotlight: Churchill, MB

Located in Coombs, this 18.81 acre site on the Alberni Hwy includes a mobile home park and commercial lease revenue. Well priced at an 8% cap rate. Offered for sale at $2,775,000

Business Opportunities UPHOLSTERY & FURNITURE REFURBISHING—Nanaimo FAMILY ADVENTURE CENTRE—Nanaimo SEWING MACHINE & FABRIC RETAILER—Nanaimo FRANCHISED FAMILY RESTAURANT—Ladysmith ESTABLISHED RESTAURANT—Tofino ESTABLISHED PLUMBING & HEATING BUSINESS—Nanaimo ENGINE MACHINING & PARTS BUSINESS—Nanaimo JUMPING JIMINY’S PLAYLAND & CAFÉ—Nanaimo Well known children’s entertainment business

$ $ $ $ $ $ $ $

119,000 149,000 180,000 219,000 249,000 250,000 395,000 419,900

RESTAURANT ON ISLAND HIGHWAY—Parksville A&W RESTAURANT & FAMILY ADVENTURE CENTRE Franchise restaurant in Central Nanaimo as a package with a well known family entertainment destination ESTABLISHED PLUMBING & HEATING BUSINESS—Nanaimo On 7,560 sq ft lot with 1,300 sq ft building

$ 425,000 $ 595,000

SPECIALTY MACHINE SHOP—Central Vancouver Island ENGINE MACHINING & PARTS BUSINESS—Nanaimo With Strata Titled land and building

$ 900,000 $ 950,000

SHEET METAL FABRICATION BUSINESS—Nanaimo Land, Buildings and up to $75,000 in inventory

$1,095,000

LIQUOR STORE IN LEASED PREMISES—Central Vancouver Island SPECIALTY MACHINE SHOP—Central Vancouver Island On 16,988 sq ft lot with 150 ft road frontage and 6,528 sq ft building

$1,500,000 $1,700,000

FRANCHISED MOVING & STORAGE CO.—Central Vancouver Island PUB & LIQUOR STORE—Central Vancouver Island CEDAR SHAKE/SHINGLE MANUFACTURER - www.bcfshake.com Land, Buildings, Foreshore Leases and Equipment, Inventory extra

$2,550,000 $3,600,000 $3,900,000

$ 650,000

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XXX XFTUFSOJOWFTUPS DPN

DBMM UPMM GSFF

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

Tel: 1 800 769 5757

gerry.vanvaals@dtzbarnicke.com

www.dtznanaimo.com

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

A25

WESTERN INVESTOR JUNE 2011 www.westerninvestor.com

FEATURE Renewed ‘gold rush’ ramps up the energy as Penticton welcomes return of major mining play

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WESTERN INVESTOR

C

hanks to higher demand for copper and rising prices, the town of Princeton, just four hours east of Vancouver, is experiencing a rebirth. The town’s fortunes have risen and fallen with the prices of commodities, and Copper Mountain mine just 20 kilometres to the south has been at the source of the flux.

For the past few years, theCopper Mountain Mining Corp. has been developing the mine again, bringing hundreds of workers on site to build the infrastructure, and now employing more than 200 workers (expect to rise to approximately 270) for regular mine operations this summer. “That’s what you need to keep it going 24 hours a day, seven days a week,” said operations manager Art Pratico on a walking tour of the mine. Not surprisingly, it seems the entire town of Princeton has embraced the mine, with a powerful message from the mayor and council indicating their support of “110 per cent.” Local school children even participate in significant milestones, and people who moved away when the work had slowed down are getting ready to settle back in. The feeling is a little like a reinvigorated gold rush as though some explorer randomly found a nugget panning for gold. Only this isn’t some random find. Copper Mountain (which has gone by the name of Princeton Mining and Granby in previous lives) has had a huge influence on the town of barely 3,000 because the mine has been in an out of operations for more than a century. Over the years, it’s served as an employer to multiple generations of Princeton residents, some of whom have worked in the mine at dif-

Photo: Copper Mountain

5

Mining action at Copper Mountain will go 24-7 and include 270 workers at full production. Says the Princeton mayor: “We were going to be one of the hardest-hit communities. Then the mine came. I said, ‘Folks, we don’t qualify [for help] anymore.’”

ferent times over the past 50 years. Besides the impact on residents who are now employed by the mine, there are multiple spin-off effects from the service and product providers. More than 100 vendors have served the mine, coming from as far away as Ontario, Arkansas and Houston. A single airstrip near Princeton allows for access for smaller deliveries, but most equipment coming via ground will be passing through Princeton and bringing customers for restaurants, lodging and vehicle servicing. The heightened activity is hard to miss. “It used to be that only Friday afternoon there’d be so much traffic, you have to wait to let cars go by before you could cross the street,” said Princeton mayor Randy McLean. “Now, every day is like Friday.” McLean points to the pine-beetle devastation as one reason why people are so excited for this project.

“I think why there’s been this support [from government and community] is that revenue from forestry is diminishing in the Interior so from a revenue perspective, they’re really interested in other communities seeing the positives about the mining industry.” The mayor sits on the Southern Interior Beetle Action Coalition (SIBAC), which just is being given $3 million over three years to help towns whose economy is suffering due to the pine beetle epidemic. “We were on the top of the list when we started SIBAC – we were expected to be one of the hardest-hit communities,” said McLean. “Then the mine came. I said, ‘Folks, we don’t qualify [for help] anymore.’ Along with the excitement comes the realization that the town needs to build and grow as the mine does. “We need to make sure there’s enough land to build on and enough movement in getting residential permits and proper zoning permits in time,” McLean said.◆

opper Mountain dates back to the late 19th century. In the 1920s, Granby Consolidated Mining, Smelting and Power Company built a mining facility on the property and proceeded to extract 31.5 million tonnes of ore. By comparison, projections for today’s mine is more than 100 million pounds of copper per year, with an expected 17-year life span. The estimated copper resource is five billion pounds. The mine has opened and closed three times since the early 20th century, with the most recent stretch lasting from 1971 to 1996. When copper prices fell, the mine closed, and activity in Princeton slowed. At that time, then owner Princeton Mining sold the property for soil remediation. Jim O’Rourke, president of Princeton Mining at the time, turned his attention elsewhere, but the man with almost half a century of mining administration under his belt soon came back; and this time, with a partner. In 2008, as CEO of Copper Mountain Mining Corp., O’Rourke secured financing from Mitsubishi Minerals Corp. for $28.75 million in exchange for a 25 per cent interest in the mine. Total capital costs are estimated at $248 million. In 2010, that same partnership – which now comprises a consortium of lenders that includes the Bank of Tokyo-Mitsubishi UFJ Ltd., Mizuho Corporate bnk Ltd. and the Japan bank for International Cooperation – resulted in US$322 million debt financing. The project officially began in 2007 when Copper Mountain acquired Similco Mine, which was followed by an IPO on the TSX Venture exchange.

7BODPVWFS *TMBOE

NANAIMO | VANCOUVER ISLAND

COMOX VALLEY,

DEVELOPMENT AND INVESTMENT OPPORTUNITIES

VANCOUVER ISLAND ICI:

MOTEL NEAR DEPARTURE BAY FERRY REDEVELOPMENT OPPORTUNITY! 21 Units plus Owner's TWO PRIME LOCATIONS FOR SALE WITH POTENTIAL FOR CAREHOME OR CONDO SITES NEW PRIME RETAIL SPACE FOR LEASE CENTRALLY LOCATED NEXT TO POPULAR RETAILERS SUCH CENTRALLY LOCATED NEXT AS SHOPPERS DRUG MART TO POPULAR RETAILERS SUCH AS

COMOX

SHOPPERS DRUG MART.

POTENTIAL CAREHOME OR CONDO SITE

Residence. Designated for 6 Storey Commercial Office / Residential Mix. The site is perfectly located wih great access and Hwy Exposure. Enjoy current income while planning a higher and better use for the site!

Asking $1,500,000 Call DARWIN for info. OCEAN & CITY VIEWS! 12.4 ACRE SITE DEVELOPMENT OPPORTUNITY 10 RES. LOTS PLUS 26 LUXURY TOWNHOMES. Located in an upscale residential neighbourhood close to Vancouver Island University. This RS-8 site has all necessary designs, plans, reports & approvals in place. The Development Permit is ready to be issued after confirmation or any modifications a new Purchaser may want. All services & approvals are available to be in construction this year! Call DARWIN for info.

MULTI USE DEVELOPMENT SITE

LANGFORD CONDO SITE APPROVED FOR UP TO 188 UNITS EXCELLENT LOCATION LOCATED NEXT TO COSTCO, A SHERATON HOTEL, HOME OUTFITTERS, AND MANY OTHER RETAIL STORES 2.34 ACRES OF POTENTIAL

Please visit our website or call for more details.

monarkinvestments.ca

604-592-7250

Financing Available. Potential Trades.

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

Asking $2,800,000 Call DARWIN for info. EXCLUSIVE LISTING - CAREFREE INVESTMENT 16 UNITS! 6 yr. old Apt./Townhome project in Port Alberni. Fully leased to Gov't. Agency. $1,797,000 Additional adjoining land for further development is also available. Located in the best part of Port Alberni next to North Island College & other amenities.

UNIQUE BUSINESS INVESTMENT OPPORTUNITY; A Joint Venture or Investment based requirement for a leading Fish Hatchery One of the best Hatchery establishments on the Southern B.C. Coast. Excellent location offering perfect conditions for product success. Over 25 years of husbandry make this operation a leader in its field. Hatchery occupies 12 freehold waterfront acres on a spectacular lake on Central Vancouver Island. All aquiculture licenses foreshore leases, water licenses and required permits are in place. Business involves all aspects from wild salmon enhancement, egg development and shipment to Asian destinations, and the raising of smolts for various specialty sea farm operations. Further detailed information is available for qualified investors.

Call ROB for info. OUTRIGHT PURCHASE OR POSSIBLE JV OF A UNIQUE AQUACULTURE SEA FARM A turnkey facility waiting to be restarted into production. Excellent location in Barkley Sound, the Pacific Rim area of the West Coast. This specific sea farm is noted as having one of the best locations for sea farming activity and has the potential of expansion within existing license. Consulting is available to train owners, staff and workforce in all aspects of sea farming. All permits, etc are in order. Priced for an outright sale at approx. 50 % of what a new sea farm facility may cost today. A JV may be considered. Asking $850,000 Call ROB for info.

Call ROB for info. EXCELLENT RENTAL APARTMENT INVESTMENT Offered @ 8.5% Cap! 47 units, substantially renovated in 2009-2010, elevator, 4 stories, centrally located. Excellent management on site, good tenancy profile, few vacancies, one of the best rental Apartment Buildings in this City. Asking Price @ $1,900,000. Information brochure. Call ROB for info.

Darwin Mahlum Robert Borden

250.760.1066

INDUSTRIAL BUILDING IN VANCOUVER, B.C. Located in close proximity to downtown Vancouver and Commercial Drive. Older industrial building on 5,808 sq. ft. of land. Building fully occupies site. Grade level loading door, separate entrance door. Two offices, one half bathroom, great for a storage facility. Priced @ $775,000. Call ROB, Information brochure available.

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

LEASE SPACE INDUSTRIAL -1680 s.f. $11/s.f. base, + $2.77NNN (est) -industrial zoned…includes free 600s.f. mezz -lockable compound out back, 14’ loading door LEASE SPACE RETAIL/COMMERCIAL -former Subway space: high traffic -downtown Comox in main business section -1119 s.f. $22/s.f. base + $12 NNN (est) SIGN BUSINESS -established 17 years in the same location -client list included -includes inventory (est: $2500) Asking $39,900 GROCERY STORE/BAKERY WITH RESIDENCE -desirable Bates Beach area -nearest competition 3.5 km -separate bakery & store businesses down -3 bdr residence up -includes ½ acre, 3100 s.f. bldg, garage, sheds Asking $399,000 COMMERCIAL STRATA DOWNTOWN COMOX -hi pedestrian/car traffic location with huge street frontage -840 s.f. in prestigious Comox Quay Asking $319,000 COMMERCIAL STRATA UNIT -1170 s.f. unit with 3 phase power -retail entry, workshop rear with 12’ door -mezzanine which can be conv. to residential Asking $215,000

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

A26 Vancouver Island

www.westerninvestor.com JUNE 2011WESTERN INVESTOR

VANCOUVER ISLAND Comox Valley

FOR SALE CONSTRUCTION BUSINESS Gravel pit 7 km to deep sea dock U Loaders U Excavator U Dump Truck U Screening Plant U Jaw Crusher 10� x 36� U

Full Property Management Services (Residential and Commercial)

UĂŠ nnääĂŠ-+ĂŠ /ĂŠ, / É" ĂŠ ............................................... $1,395,000

Prince Rupert, B.C.

UĂŠ ÂŁ]Ă“ääĂŠ-+ĂŠ /ĂŠÂŁn¿Ê ĂŠĂŠ°°°°°°° $162,800

Contact Dale Schuss

UĂŠ , / É" É /ĂŠ 1-/, ĂŠĂŠ SPACES FOR LEASE fn°ääĂŠqĂŠÂŁ{°ääĂ‰ĂƒÂľĂŠvĂŒ

1-250-658-8060

Email: conexc@cablerocket.com

www.randallnorth.ca

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

UĂŠ ĂŠ-/", ĂŠ " * 8 ....$2,299,000

including Facility Management Services in Victoria and

dale.schuss@randallnorth.ca

JUDY GRAY, CCIM

UĂŠ /ĂŠ 1-/, ĂŠ-/, / ĂŠĂŠ ³É‡£xääĂŠ-+ĂŠ / Over 20' ceilings 2 full storeys allowed. .............. $274,900

UÂŁĂˆäĂŠ>V°ĂŠBÂœĂ€`iĂ€ÂˆÂ˜}ĂŠÂ˜>ĂŒÂˆÂœÂ˜>Â?ĂŠÂŤ>ÀŽÊÊÊ ĂŠ°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°$1,540,000 U°{ĂŽĂŠ>V°ĂŠ6ˆiĂœĂƒ]ĂŠVÂœĂ€Â˜iÀÊÂ?ÂœĂŒ]ĂŠViÂ˜ĂŒĂ€>Â?ĂŠÂ?ÂœV>ĂŒÂˆÂœÂ˜ĂŠĂŠ ĂŠ°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° $369,000 U°ĂˆxĂŠ>V°ĂŠ œ““iĂ€Vˆ>Â?ĂŠ>Ă€i>ÉÀiĂƒÂˆ`iÂ˜ĂŒÂˆ>Â?ĂŠ>LÂœĂ›iĂŠ ĂŠ°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° $214,000 U£°xnĂŠ>VĂŠSiÂ“ÂˆÂ‡Ăœ>ĂŒiĂ€vĂ€ÂœÂ˜ĂŒĂŠ`iĂ›°ĂŠĂƒÂˆĂŒiĂŠ ĂŠ°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° $985,000 U°ĂˆÂ™ĂŠ>VĂŠFÂœĂ€iĂƒÂ…ÂœĂ€iĂŠÂ?i>ĂƒiĂŠĂœĂ‰ÂŤÂ?>Â˜ĂŒĂŠEĂŠĂƒĂ•ÂˆĂŒiĂŠ ĂŠ°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° $499,000

UĂŠ ĂŠ+1 /9ĂŠ-/, / ĂŠ" ÊʇÊ Ă“]{ääĂŠĂƒÂľĂŠvĂŒĂŠ .....................................................$629,000 UĂŠ -/, / ĂŠ" ĂŠ ",ĂŠ- ĂŠ 2nd oor vacant 2,200 sq ft ... $249,900 3rd oor leased 2,200 sq ft ...... $254,900 UĂŠ ĂŽ]ĂˆääĂŠ-+ĂŠ /ĂŠ, / ĂŠ 1 ĂŠ On .28 ac, Comox ................... $925,000

Development land on inlet Tourist commercial zoning 1.25 ac ĂŠ°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°$345,000 1.52 ac ĂŠ°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°$405,000

UÊ ÇÊ1 /Ê */Ê " "8Ê Zoned for 14 ............................ $850,000

Oceanfront Hotel Site 13.76 ac, 175 rooms Fully treed/serviced ....... $9,000,000

UĂŠ ĂŽ]äääĂŠ-+ĂŠ /ĂŠ, / ĂŠ 1 ĂŠ On ½ ac, Courtenay ................. $925,000 UĂŠ ÂŁ]{ĂˆäĂŠ-+ĂŠ /ĂŠ, / ĂŠ 1 ĂŠ On .23 ac, + chinese restaurant Cumberland ............................ $480,000

Oceanfront Lodge w/Cabins www.Rainforestbeachlodge.com ........................................ $2,450,000

UĂŠ°Ă‡ÂŁĂŠ ĂŠ "7ĂŠ, - ĂŠ */ĂŠ°°°°°°°°°°° $850,000

Campground 18.32 ac 52 sites + 10 overow & 3 group www.Surfjunction.com .... $1,800,000

Rob Samsom

AACI CCIM FRI PERSONAL REAL ESTATE CORPORATION

1-888-829-7205

www.judygray.com

www.robsamsom.ca

waterfront properties 13*.& 46# %*7*%"#-& 0$&"/ '30/5 Incredible 5.17acre waterfront estate in exclusive Queenswood, one of the area’s largest properties! “Twin Coves� is named for the 2 stunning coves on the shoreline, w/private pebble beach & easy waterfront access for kayaks or small boats; views from this magical estate are absolutely spectacular . . . w/ abundant marine wildlife & ever-changing seascapes! The spacious 4700 sq.ft. 1947 residence is totally private & close to the water’s edge, w/an expansive patio overlooking the beach . . . has been exceptionally well maintained & enjoys incredible views, but requires some cosmetic updating . . . build your new dream home here, or sub-divide into several oceanfront lots!

456//*/( -",&'30/5 -05 o /0 )45 Exclusive new lakefront community, fully serviced with private dock, on the sheltered & sunny south end of Lake Cowichan! Enjoy non-stop fun and sun in this magical location just 40 minutes north of Victoria BC, close to fantastic ammenities & the best westcoast lifestyle.

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RE/MAX Ocean Pacific Realty

CALL NOW 1-800-661-6988 www.westerninvestor.com

t t %JSFDU XXX -JTB8JMMJBNT DB CENTURY 21 Q UEENSWOOD R EALTY LTD.

NANAIMO & VANCOUVER ISLAND PROPERTIES

Ê Ê- ",// Ê / Ê, É 8Ê" * " FORECLOSURE COURT ORDERED SALES 3 ACRE TOWNHOME DEV SITE Stunning ocean view up to 30 units. $995,000 26 UNIT CONDO DEVELOPMENT SITE Fabulous ocean views. 1 acre. Financing available. Approved plan with city. $729,800 FORECLOSURE OCEAN VIEW DEVELOPMENT 9 Acre, 28 lot subdivision in Chase River Quiet neighbourgood property is beautifully treed And would accommodate 28 single family homes or small lots. Mortgager may finance. Trades welcome. Foreclosure Price: $848,000

DEVELOPMENT SITES JUST LISTED; FANTASTIC OCEAN VIEW RM-5 Dev site, unrestricted views, overlooks cruise ship pier. Approved for 34 condos, No DCC’s. $729,000 PANORAMIC OCEAN VIEW DEV. SITE 24 Lots approved residential subdivision property Cost estimates available. Asking $1,475,000 142 ACRE DEV. SITE Nanaimo $5.8 M 6 ACRE PRIME DEV. SITE in central Nanaimo. Approved plan for 131 units. Seller will finance. 4 phases $2,390,000 DUPLEX LOT $129,000 4 PLEX LOT $199,000 COUNTRY ESTATES DEVELOPMENT SITE 23 ACRES $459,000 50 ACRES, $995,000 43 ACRES $859,000 Adjoining properties, 1 mile from city limits, Zoned for 5 acre lots

/ ĂŠUĂŠ/" ĂŠ , Ê£‡nääÂ‡ĂˆĂˆx‡nĂŽÂŁĂŽ

HOTELS & PUBS FULLY SERVICED HOTEL Recently renovated, 30 rooms, 125 seat pub, wine and beer store. Generating over $1.5 million annually and growing. $1,590,000

INCOME PRODUCING + REVENUE PROPERTIES SECURE INVESTMENT 6 brand new homes, all with legal suites, 2 meters each, 10 yr warranties, separate titles, 5 1/2% CAP, or hold & sell. $2,550,000

NORTH ISLAND HOTEL & PUB, WINE & BEER STORE 50 Rooms and restaurants. 2 lots. Over 4 Million annual sales. $3,100,000

NANAIMO DUPLEX 3 bedrooms per side, 2 separate titles. Excellent income. $424,900

6 ACRE DEVELOPMENT SITE Zoned RM5, 4 Phases approved for townhome & condos. Central Nanaimo. Asking $2,395,000 FINANCING AVAILABLE

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

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

CONDOS & HOMES

71 UNIT APARTMENT BLOCK 4 separate buildings. New Renos. Over $500,000 spent. North Island location. Over $27,000 monthly income. Management in Place. $2,890,000

NEW EXCECUTIVE CONDO ON THE WATER with swimming pool & boat deck. Boat moorage included. Seller will finance with 10% down & look at trades $425,000

HERITAGE APARTMENT BLOCK 13 self contained units. 1 commercial space plus lease pub & license. Gross revenue $10,000/month. $925,000

PACIFICA OCEAN FRONT CONDOS 38 Front Street Units for sale. Walk-on waterfront townhome $509,000 no HST. Call Dale for other available units.

5 PLEX NANAIMO 5 meters, over $4,500 monthly revenue. Covered parking. Storage lockers. Separate meters. Asking $749,500

WATERFRONT TOWNHOME 1740 SF 2 bedrooms, hardwood floors, granite counter tops, roof top patio. $599,000 1 BEDROOM PLUS DEN $239,900

DALE SHORTT Bus: (250) 758-3700 U

OCEANVIEW 3-PLEX South Vancouver Island. Excellent Income. 3 separate titles. $369,000

TOLL FREE 1-800-665-8313

Ăˆ{äĂŠ/Ă€>Â˜ĂƒĂŠ >˜>`>ĂŠ ˆ}Â…Ăœ>Ăž]ĂŠ >`ĂžĂƒÂ“ÂˆĂŒÂ…]ĂŠ ° °ĂŠ6™ ĂŠÂŁ ÇÊUĂŠ “>ˆÂ?\ĂŠ`>Â?i ĂƒÂ…ÂœĂ€ĂŒĂŒJĂƒÂ…>Ăœ°V>

Ocean Pointe

A27

WESTERN INVESTOR JUNE 2011 www.westerninvestor.com

one Deals is our monthly feature highlighting some of the major real estate transactions completed recently in Western Canada’s vibrant commercial real estate market.

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From: Colliers International, Victoria. Colliers brokers Ty Whittaker and Michael Miller report the following sale: Deal: 181,500-square-foot Gateway Park, Victoria, a fully leased office-space complex that includes a 400-stall parking structure. Sold on behalf of a local investment group to Whiterock REIT. Price (asking): $33.2 million.

Our readers report on recent commercial real estate deals across Western Canada Dexter agent Sandi Fratino listed and sold the following: Deal: 3,900-square-foot retail/residential building at 4396 Fraser Street, Vancouver. Price $1,025,000. From: Dexter Associates Realty, Vancouver. Dexter agent Larry Traverence reports the following sale with listing agent Martin Sprenkels of Century 21 Performance Realty & Management, Squamish. Deal: Two retail/office buildings on Pemberton Avenue, Squamish. Price: $42.2 million.

lion. Deal: 8,845-square-foot office building, East Vancouver. Price: $4.4 million. From: Dundee REIT, Toronto. Dundee reports the following acquistion: Deal: 209,500-square-foot Saskatoon Square office building, Saskatoon. Price: $50 million.

Photo: Avison Young

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Recently completed a major commercial real estate deal? Send details for a free report 27-unit Chilliwack apartment rental buildhere to: wieditor@biv.com. ing sold for $1.72 million.

Photo: Syber Realty Ltd.

Photo: Avison Young Commercial Real Estate

From Syber Realty Ltd., Kelowna. Syber agent Larry Berisoff reports the following From: Avison Young Commercial Real sales: Estate, Vancouver. Avison Young agents Deal: 12-unit motel, Pemberton. Price: Rob Greer and Mark Hannah sold the fol- $800,000. Deal: 26-unit motel with attached restaurant. lowing: Deal: 117-unit apartment rental complex Price: $628,000. (three buildings) on Vedder Road, Chilliwack. Sold between unnamed parties. Price: $10 From: Success Realty & Insurance Ltd., million. Vancouver. Success agent Jordan Eng sold Deal: 27-unit rental apartment building the following: on Mary Street, Chilliwack. Sold between Deal: Mixed-use retail and two residential rental units on 34-foot-by-111-foot lot, Three Chilliwack apartment rental buildunnamed parties. Price: $1.72 million. From: Dexter Associates Realty, Vancouver. Victoria Drive, Vancouver. Price: $1.87 mil- ings, total 117 units, sold for $10 million.

26-unit motel in New Denver, B.C., sold for $628,000.

7BODPVWFS *TMBOE BUSINESS OPPORTUNITY IN THE

Southern Gulf Islands! Purchase of shares and assets allows buyer to step into turnkey operation of the only gas bar and service station on Pender Island, including a convenience store, and a pet supply store. Great opportunity for a family to settle in one of the most secure, healthy, and friendly communities in North America. Up-to-date financial info available for serious inquiries. Call or email for details.

FOR SALE STRIP MALL Strip mall approx. size 8,900 sq. ft. Leases in place with Field’s Store as anchor for the last 20 yrs. List price $625,000

CAROL BUDNYK, REALTOR® Direct: 250 588-3378 Email: carolbudnyk@royallepage.ca

www.realestate-penderisland.com

B.C. MARINA & RESORT

REDUCED! $1,650,000 QUADRA ISLAND Protected MARINA, 11 Oceanfront CABINS, Office, House, Conference Centre, Boats, Bikes, *** REFERRAL FEE

Mark 250-650-6508

Email:

onestepbeyond2@gmail.com www.seascapewaterfrontresort.com

conexc@cablerocket.com

VANCOUVER ISLAND COMMERCIAL www.nanaimoremaxcommercial.com

1-877-335-4380

Jay Cousins Realty

FOR SALE

Jay Cousins jay@jaycousins.com

of Nanaimo

Frank Johnson frank@remaxofnanaimo.com

INVESTMENT OPPORTUNITIES

INVESTMENT OPPORTUNITIES

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

UÊ ",Ê- Ê",Ê - ÊqÊ 1-/, Ê*,"* ,/9 Ê ÃiÊÌ Ê ` Ü Ì Ü Ê > > ÊEÊâ i`Ê ÓÊ> Ü }Ê > ÞÊÕÃiðÊÇ]ÓääÊ-µ°Ê Ì°Ê Ü>Ài ÕÃiÊ ÛiÀÊÓÊ iÛi ðÊ,iVi ÌÊÀi Û>Ì Ã]Ê>ë > ÌÊ«>Ûi`ÊvÀ Ì]Ê Ã `iÊEÊÀi>ÀÊÞ>À`Ã]Ê« ÜiÀÊ ÃÊ{ääÊ> «]ÊÌ ÀiiÊ« >Ãi°Ê ÃiÊÌ Ê } Ü>ÞÊ >VViÃðÊ1««iÀÊv ÀÊVÕÀÀi Ì ÞÊ i>Ãi`ÊÌ Ê }ÊÌiÀ ÊÌi > Ì°Ê > Ê iÛi Ê >Û> >L iÊv ÀÊ i>ÃiÊ>ÌÊfn°ääÊ«iÀÊõ°ÊvÌ°Ê« ÕÃÊ/ °Ê $699,000

UÊÊ MOTEL, DUNCAN, BC ÊÎÓÊÕ ÌÊ Ìi ÊÜ Ì ÊÀiÃÌ>ÕÀ> ÌÊ ÊÌ iÊ

Ü V > Ê6> iÞ°ÊÊ i ÌÀ> ÞÊ V>Ìi`]ÊV ÃiÊÌ Ê` Ü Ì Ü Ê Õ V> ]Ê ÕÃÌÊ vvÊ Ì iÊ /À> ÃÊ > >`>Ê ÜÞ°Ê Ê i>ÀLÞÊ v>V Ì iÃÊ V Õ`iÊ Ì iÊ UÊ 1.4 ACRE PROPERTY ZONED HEAVY INDUSTRIALÊ Õ ÞÊ ÊUÊ È]£ÈÇÊ-+°Ê /°Ê7 , "1- ÊEÊ" Ê 1 Ê > ÀÊ Ü V > Ê-« ÀÌÃÊ « iÝ]ÊÌ iÊ Ü V > Ê/ i>ÌÀi]Ê> `ÊÌ iÊ,iVÊ vi Vi`]ÊÓÊi ÌÀ> ViÃ]Ê ÛiÀÊÎää½Ê vÊvÀ Ì>}iÊ Ê Õ iÊ* Ì]Ê > > °ÊÊ `ÕÃÌÀ > Ê*>À Ê Ê* ÀÌÊ LiÀ ÊÜ Ì ÊV ÕÀ iÀÊV «> ÞÊ>ÃÊ }ÊÌiÀ ÊÌi i ÌÀi°Ê REDUCED TO $1,250,000 V Õ`iÃÊ £ä½Ê 8Ê Îä½Ê vv ViÊ L i°Ê -i iÀÊ >ÞÊ i ÌiÀÌ> Ê i>ÃiÊ JÊ > Ì°Ê iÌÊ V iÊ ÊiÝViÃÃÊ vÊfÈ£]äää°Ê, Êv ÀÊiÝ«> à Ê$715,000 UÊ 66 ACRE ESTATE q V>Ìi`Ê ÕÃÌÊà ÕÌ Ê vÊ > > ]Ê>Ê >} v Vi ÌÊ fÎ]xääÊ«iÀÊ Ì Ê« ÕÃÊÌ>ÝiÃÊ $595,000 UÊ 8 */ " Ê 6 -/ /Ê *,"* ,/9Ê qÊ * , -6 Ê ÃÌ> `Ê vÊ >ÌÕÀiÊÌ LiÀÊ> `Ê «i Êv i `ðÊÊ ««À Ý >Ìi ÞÊ{{Ê>VÀiÃÊ vÊ iÀV > Ì>L iÊÌ LiÀÊ>««À> Ãi`ÊÌ Ê >ÛiÊ>Ê iÌÊÀ> }iÊ vÊf{ÓÇ]äääÊ UÊ 12 UNIT APARTMENT BUILDINGÊ q Ê * " , / Ê , Ê x Ì Ü Ê ÀÃÌÊ >ÃÃÊ }ÊÌiÀ ÊÌi > Ì°Ê*À «iÀÌÞÊ ÃÊ£°ÇÎÊ>VÀiÃÊÜÉ}Ài>ÌÊ « Ì Êfxx ]äää°Ê à Ê}À>Ûi Ê`i« à ÌÃ]ÊÓÊÀi Ìi`Ê ÕÃiÃ]Ê> `Ê>ÊL>À °ÊÊ « ÀÌÕ ÌÞÊÌ Ê>``Ê ÀiÊLÕ ` }Êë>ViÊEÊ ÛiÀÊ£Ê>VÀiÊ vÊ>`` Ì > Ê i`ÃÊEÊÇ iÊ i`Ã]ÊÕ«}À>`iÃÊÌ Ê> ÊÕ ÌÃ]ÊV ÌÞÊEÊ iÌÊÛ iÜÃ]Ê ÊiÝVi«Ì > ÊiÃÌ>ÌiÊà ÌiÊÜ Ì ÊÀiÛi Õi°Ê$1,950,000.00 > `Ê>Û> >L iÊv ÀÊ`iÛi « i Ì°Ê,iVi ÌÊ > ÀÊÌi > ÌÊ «À Ûi i Ì ÃÊ ÌÕÀ iÞÊ «iÀ>Ì ]Ê>««À Ý°ÊÇ°x¯Ê *ÊÀ>Ìi°ÊÊ > Ê -Êv ÀÊ`iÌ> i `Ê EÊ«À Vi`ÊLi ÜÊ>ÃÃiÃÃi`ÊÛ> ÕiÊ $795,000 «>V >}iÊÊÊ $749,000

S O LD

UÊ 7 Ê "7 Ê*",/Ê , Ê , Ê 1 ÊqÊ

ÕÀÀi Ì ÞÊÕÃi`Ê>ÃÊ vv ViÃÊEÊÕ Ê > ]Ê>««À Ý°ÊÈ] äÊõ°ÊvÌ°Ê ÛiÀÊÎÊ v ÀðÊ*£Êâ }ÊLÕÌÊV Õ `ÊLiÊV iÀV > ÞÊÀiâ i`°Ê v À >Ì Ê U TENANTED INDUSTRIAL BUILDING FOR SALE Ê Ê£Ó]£äÈÊ « ÀÌv Ê>Û> >L i $995,000 } ÌÊ `ÕÃÌÀ > Ê­ Ó®ÊLÕ ` }Ê Ê>Ê£Ê>VÀiÊÃÌÀ>Ì v i`Ê Ì°Ê"Ü iÀÊÜ Ê i>ÃiÊL>V Êv ÀÊxÊÞi>ÀÃ°Ê ÀÊV ` Ì i`Ê£]ÇÈxÊõvÌÊ vv ViÊë>Vi Ê UÊ /Ê 1-/, Ê <" Ê " * 8Ê qÊ - Ê qÊ ÝVi i ÌÊ ÀiÛi ÕiÊ «« ÀÌÕ ÌÞÊ VÕÀÀi Ì ÞÊ }i iÀ>Ì }Ê Ê iÝViÃÃÊ Ü Ì Ê>ÊÃ> iÃÉÀiVi«Ì Ê>Ài>]ÊÌÜ Ê vv ViÃ]Ê>Ê Õ V À ]Ê> `ÊÌÜ Ê vÊ f£È{]äääÊ > Õ> Þ°Ê Ã > `Ê } Ü>ÞÊ iÝ« ÃÕÀi]Ê i>ÃÞÊ >VViÃÃ]Ê L>Ì À Ã°Ê V>Ìi`Ê Ê ÀÌ Ê > > ]ÊÜ Ì Êi>ÃÞÊ>VViÃÃÊÌ ÊLÕÃÊ ÈÊ LÕ ` }ÃÊ Ê Ì Ì> ]Ê > Ê Ê Ó°nnÊ >VÀiÃ°Ê ÕÀÀi ÌÊ Ài Ì> Ê À>ÌiÃÊ Ü Ì Ê À ÕÌiÃ]Ê> `Ê > ÀÊÌÀ> ë ÀÌ>Ì ÊV ÀÀ ` ÀðÊÊ $1,890,000.00 Û>V> V iÃÊv i`ÊÜ Êà ÜÊ i>À ÞÊn¯Ê *ÊÀ>ÌiÊÊ $1,895,000 U /Ê 1-/, Ê Ê Ê 1 Ê*" / - 1.83 acres of land, in the Duke Point Industrial Park. Large flat UÊ 1 / / / Ê 69Ê 1-/, Ê*,"* ,/9ÊÊ lot, easy to develop and close to the Duke Point Ferry qÊ *>À ÃÛ iÉ ÀÀ }Ì Ê >Ài>°Ê Ê È°ÓÊ VÀiÃÊ «>ÀÌ > ÞÊ `iÛi «i`Ê Ü Ì Ê Terminal. Potential to be re-zoned to Heavy Industrial iÜÊÜ>Ài ÕÃiÃ]Ê iÜÊ{ÊÕ ÌÊ Õ Ì ÀiÃÊÜ À É ÛiÊë>Vi]Ê iÜÊ vv ViÊ ( I - 4) $499,900.00 LÕ ` }Ê« ÕÃÊiÝ ÃÌ }ÊLÕ `ÊÌ ÊÃÕ ÌÊÌi > ÌÊ Ê« >ViÊ Ê£Ê>VÀiÊ« ÀÌ Ê UÊ ",/ Ê "Ê " , Ê 6 -/ /Ê ÜÉ«>Ûi`ÊEÊÃiVÕÀ ÌÞÊvi Vi`Ê>Ài>°Ê ÕÀÌ iÀÊÓ°xÊ>VÀiÃÊ ivÌÊÌ ÊV Ì ÕiÊ *,"* ,/9Ê Ê Fully leased 1837 sqft commercial stra`iÛi « i ÌÊ« > °Ê* Ìi Ì > Ê V iÊÕ `iÀÊVÕÀÀi ÌÊV v }ÕÀ>Ì Ê Ê ta unit over 2 floors (935 sq. ft., and 902 sq. ft.). iÝViÃÃÊ vÊf£È{]äääÊ> Õ> Þ°Ê REDUCED $1,950,000 $410,000.00

FRANK JOHNSON

JAY COUSINS

UÊ 1- --Ê7 / Ê 1 ÊEÊ Ê qÊ - ÊqÊ V Õ`iÃÊvÕi ÊÃ> iÃÊEÊ>ÕÌ Ì ÛiÊÀi«> ÀÃÊ Ê ÕÀ «i> Ê « ÀÌÊ6i V iÃÊ V Õ` }Ê iÀVi`iÃÊEÊ 7°Ê } ÊÛ Ã L ÌÞÊ V>Ì ]ÊvÀià ÊÀi ½ÃÊÌ Ê Ì iÊLÕ ` }]Ê Vi> ÊÛ iÜÃÊ $799,000

www.nanaimoremaxcommercial.com

1-877-423-0984

INVESTMENT OPPORTUNITIES UÊ -/, / Ê1 /Ê Ê 1-/, Ê* , ÊqÊ "Ê ««À Ý°Ê £]ÎääÊ-µ°Ê Ì°Ê } ÌÊ `ÕÃÌÀ > ]ÊÓÊ ÛiÀ i>`Ê` ÀÃ]ÊÓÊ > Ê` ÀÃ]Ê vv Vi]Ê£n½ÊVi }Ã]Ê-ÌÀ>Ì>Ê iiÊ ÃÊfxÈ°xäÊ«iÀÊ Ì ÊÊ $269,000 UÊ

1 "1 Ê 1-/, Ê* , ÊqÊ-/, / Ê1 /Ê ««À Ý°Ê £]{ääÊ-µ°Ê Ì°]ÊÓÊ vv ViÃÊ« ÕÃÊ iââ> i]Ê£Ê ÛiÀ i>`Ê` À]ÊÓÊ > Ê ` ÀÃ]Ê£n½Ê i }Ê i } Ì]Ê-ÌÀ>Ì>Ê iiÊfÈÓ°ääÉ °ÊÊ $279,000

UÊ*",/Ê , Ê+1 /9Ê" Ê*,"* ,/9 Ê L >ÃÌÃÊ }Ài>ÌÊ V>Ì ]Ê iÀ Ì>}iÊV >À>VÌiÀ ÃÌ VÃÊEÊ ÃÊ>Û> >L iÊv ÀÊiÝ«> Ã Ê ÀÊÀi `iÛi « i ÌÊV à `iÀ>Ì °ÊÊ ÃÌÀÕVÌi`Ê Ê£ x ÊÌ iÀiÊ ÃÊ >««À Ý°ÊÎä]xääÊõ°vÌ°Ê ÛiÀÊÎÊ iÛi ðÊ< i`Ê 8 ÓÊ> ÜÃÊv ÀÊ>ÊÜ iÊ À> }iÊ vÊÕÃiÃ°Ê v Ê* ÀÌv Ê Û> >L iÊ $1,495,000 UÊ -1

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

UÊ "/ ]Ê +1",Ê -/", Ê EÊ *1 Ê Ê *",/Ê , Ê UÊÓÊ " , Ê 1 -Ê Ê 1 Ê qÊ" iÊ ÃÊ>ÊÌ i£Ê Êëi ÌÊ Ê ÊÀi Û>Ì ÃÊÌ ÊÕ«`>Ìi°Ê*À «iÀÌÞÊEÊLÕà ià ÃÊ >ÌÀiÊLÕ ` }Ê Ê°Î{Ê vÊ> Ê>VÀiÊv ÀÊf{{ ]äääÊ> `ÊÌ iÊ Ì iÀÊ Ê£Ê >Û> >L iÊÓÊÃi«>À>ÌiÊ«À v ÌÊVi ÌÀiðÊÊ*ÕLÊEÊÀ ÊÀi Ì> ÊLÕà ià ÃÊ ÃÌ ÀiÞÊ vv ViÊLÕ ` }Ê Ê°ÎÇÊ vÊ> Ê>VÀiÊv ÀÊ $629,000. Ê Ì Ê>ÀiÊ « ÕÃÊ µÕ ÀÊ-Ì ÀiÊ>Û> >L iÊv ÀÊ$690,000ÊÜ iÊi Ì ÀiÊ«>V >}iÊ ÃÊ â i`Ê £Ê i iÀ> Ê iÀV > °Ê > Ê ÀÊi > Ê -Êv ÀÊ«>V >}i° ÜÊ>Û> >L iÊv ÀÊ$1,590,000°ÊÊ v Ê« ÀÌv Ê>Û> >L i° UÊ ££Ê1 /Ê * ,/ /Ê " Ê qÊÓÊ i}> Ê ÌÃ]Ê Ài>ÌÊ Vi> Ê Û iÜÃ]ÊVi ÌÀ> Ê > > Ê V>Ì ]ÊiÝÌi à ÛiÊÀi Û>Ì ÃÊ Ê >ÃÌÊviÜÊ Þi>ÀÃ]Ê v Ê«>V >}iÊ>Û> >L i°Ê $1,019,000

BUSINESSES

UÊ > ÀÊ ÕÌÌ }Ê À> V ÃiÊ ÀÌ Ê > > Ê V> iÊÊÊÊÊÊ UÊ Ì iÃÃÊ À> V ÃiÊv ÀÊ7 i ÊqÊ > > Ê UÊ ÃÌ>L Ã i`Ê* Ì }À>« ÞÊ ÕÃ iÃÃ Õ V> ÊÊÊÊÊ UÊ > > Ê->ÕÃ>}i]Ê > Õv>VÌÕÀ }Ê> `Ê-> iÃÊ UÊ iÀ >À`Ê > iL>ÕÌÊ V >ÌiÊ À> V Ãi > > ÊÊÊÊÊÊ

$85,000 $129,000 $139,000 UÊ - ",-Ê , Ê /9 qÊ "Ê "-* / Ê , ÊqÊ $149,000 *ÓÊ< }Ê> ÜÃÊ ÃÌ ÌÕÌ > ÊÕÃiÃÊ ÀÊÀiâ }ÊÌ Ê Õ Ì ÀiÃÊ V> ÊLiÊV à `iÀi`°Ê Õ ` }ÊEÊ > `Ê `i> ÞÊ i `ÃÊ ÌÃi vÊÌ ÊV $149,000 }Ài}>ÌiÊV>Ài]ÊÃÌÕ`i ÌÊ Õà }]Ê ÀÊ ÃÌi ÊÕÃiÃ°Ê Õ ` }Êà âiÊ Ã Ê UÊ-ÜiiÌÊ >VÌ ÀÞÊ À> V ÃiÊ Ê ÀÌ Ê > > Ê > Ê $179,000 $4,500,000 {{]ÓxxÊ-µ°Ê Ì°Ê Ê£°nÇÊ VÀiÃÊ

JAY COUSINS

JAY COUSINS

A28

www.westerninvestor.com JUNE 2011WESTERN INVESTOR

COMMERCIAL

RE/MAX TREELAND REALTY

RE/MAX LITTLE OAK REALTY

RE/MAX BOB PLOWRIGHT REALTY

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

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

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

BUYER/TENANT REPRESENTATION

Have you done a proper Lease vs. Buy Analysis? Independent Representation for Buyers or Tenants Have your Commercial Professional source your requirements:Properties, Bylaw Compliance, Investment Analysis, Negotiations Call or email David! Your Agent works for YOU!

DEVELOPMENT SITE COQUITLAM For Commercial Ground Level, Apt or

Office above 10,000 Sq. Ft. Lot. Busy location – 1665 Como Lake Avenue. Call or email David!

INDUSTRIAL WAREHOUSE/OFFICES NE

W

PR

IC

E

COQUITLAM High profile end unit off United Boulevard.

5000 square feet – 3500sf office, 1500 sf. warehouse 2 grade level doors. Leased until June 2012 – suits a User Occupant. $850,000 CLS#V4024075 Call or email David!

PORT COQUITLAM

FOR SALE OR LEASE IN CHILLIWACK

An example of this is, defer taxes annually into commercial property and let it grow tax free! YOU CAN LAUGH AT MONEY WORRIES – IF YOU FOLLOW THIS SIMPLE PLAN

PROGRESS WAY INDUSTRIAL PARK BUY OR LEASE

Fort St John, Investment opportunity. Well kept up light Industrial building in Prospect Park close to Highway. Four years left on 5 year lease. Phase 1 and 2 available. 5 bays, offices on main and above with lunch room. Fenced yard with storage sheds. $1.1 Million (8.4% cap)

UÊ{äääÊõÊvÌÊ } ÌÊ `ÕÃÌÀ > Ê iÜiÀÊ­ÓääÇ®Ê building in Dawson Creek, BC.

dkearney@remax.net

RE/MAX S ABRE REALTY

Future Industrial $2.3M

4.69 ac. 2 houses, 5000 + sq ft of shop. Potential monthly income: $6000. Location-location. 26713 56 Ave Langley

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

xGreat opportunity for business

owners and investors xGet in at ground floor and pick your

spot today

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

SIMILAR

BU TO ILD SU IT

1 to 20 Acre Development Lots

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

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

FOR SALE IN CHILLIWACK INVESTOR ALERT xFully

Leased Commercial building with national tenant “Auto Glass Shop” xNew 3 yr lease with 3 yr option

xTenant has occupied for 15 yrs xEasy access & great exposure xLocated on busy street x12,196 s. f. lot - 4,212 s. f. bldg

SALE $599,900

COMMERCIAL DEVELOPMENT SITE xHigh profile location xEasy access & great exposure xOver 125’ of Frontage xLand size 48,326 sq. ft.

xSite profile available xFully Leased - current

income $4500/month gross xBuy & develop for future profit

SALE $1,244,000

FORECLOSURE PROPERTY xGood street exposure xPlenty of City Parking xRenovated in 2007 x8,563 sq. ft. building

x11,293

sq. ft. lot and office space xLocated Downtown Chilliwack xRetail

SALE $925,000

www.davidkearney.com Toll Free: 1-888-942-0606

BRAND NEW RETAIL/COMMERCIAL STRATA

UÊ Ìi Ê ÛiÃÌ i ÌÊ «« ÀÌÕ ÌÞÊ Ê ÀÌ Ê East BC

DAVID KEARNEYCCIM 604-942-0606

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

YOU GET WEALTHY BY STRATEGY

UÊ->ÞÊ} `LÞiÊÌ ÊÞ ÕÀÊL ÃÃ]Ê> `ÊV iÊ own this turnkey biz in Abbotsford. Sales of books and teacher supplies. Easy biz to learn and owner will train.

Rarely available – M-1 Industrial unit 1944 sq. ft. 1044 sq. ft. footprint, 3 legally finished offices above $229,000 CLS#4026408 Call or email David

RE/MAX SABRE REALTY GROUP

INVESTMENT PROPERTY

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

rayy@remax.net www.rayyenkana.com (listing details) RE/MAX LITTLE OAK REALTY

Special Zoning

Theatre for Sale

30 ac. 2 residences, Fort Langley. RU-5A. Multiple uses. Composting, soil preparation, sales (AG based) 25330 88 Ave Langley

Active, well located in high traffic area. Multiuse possibilities. Land & building. 285 seats, equipment included. Call for details.

$1.99M

$895,000

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

For more information contact

SPECTACULAR VIEW 36.4 ACRE PROPERTY – ABBOTSFORD One of a kind awesome view, overlooking Fraser river & Valley farms. Ideal building site for the exclusive country estate. Fully useable farmland for berries or livestock. First time offered at $2,198,000

CALL ROY MUFFORD

604-533-3491

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

$1,600,000 KEITH SETTER

604-533-3491

xCompletely

xFully

xIn

Renovated Harrison Hot Springs x1,057 sf strata property

xTenant

leased - 7% CAP is an Eco Friendly Salon

SALE $177,900

LIVE/WORK PROPERTY

LIVE/WORK OPPORTUNITY

x2,843 sq. ft. 4 Bdrm Home x1 Acre zoned light industrial xZoned CD14 - Outside

xMixed use 3,250 sq. ft. building x4 Bays with in floor radiant and

separate gas and electric meters

Storage

xSeparate 3 bdrm, 2 bath home

SALE $689,900

SALE $649,900

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

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

FOR LEASE IN CHILLIWACK Lease from $12$13/sq ft.

Lease $9/sq ft.

xWell Located next to new Safeway xOffice and/or retail space xSpace available 850 to 7,000 sq ft x4,450 sq. ft. air conditioned xOn site parking and good access x9 private offices, reception etc.

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

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

OFFICE FOR SALE

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

RE/MAX TREELAND

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