Western Investor September 2011 Section A

Page 1

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

Commercial/Industrial Land Highway 1 Access and Exposure Flood Hope Road, BC

COURT ORDERED SALE Strata Retail – OfďŹ ce Coquitlam VANCOUVER • LOWER MAINLAND • VANCOUVER ISLAND SECTION

s 7ITH 5 (AUL OUTLET s 5NITS n SF RENTABLE s AC n OUTSIDE PARKING s (UGE UPSIDE POTENTIAL s /N SITE LIVING ACCOMMODATIONS s %XISTING MANAGEMENT IN PLACE

14 INVESTING IN METRO HOUSING

s SQFT DEMISED AS OR RENTAL UNITS s CAR COVERED PARKING LOT s FT FRONTAGE WITH CORNER EXPOSURE s .EAR "RAID 3KYTRAIN (WY ,OUGHEED (WY s Asking $2,275,000 s Asking $699,000 / $154 psf KEN KIERS 604-534-7974 1-800-890-9855 KEN KIERS 604-534-7974 1-800-890-9855 DON ELLIS, RI 604-524-3641 ext 311 KEN KIERSkiers@naicommercial.ca OR KEN HICK donellis@naicommercial.ca kiers@naicommercial.ca KEN HICK

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 s UNIT 3ELF 3TORAGE &ACILITY s 2OOM TO EXPAND BY ACQUIRING ADJACENT ACRE SITE s NEW PRICE $1.375 Mil

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

s )DEAL FOR HOME IMPROVEMENT STORE FACTORY OUTLET SHOPPING CENTRE MOTEL ETC s .OW ONLY $3.39 Mil K AC

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

3 LIGHT INDUSTRIAL LOTS s ACRES EACH Amazing price $69,900 ea.

or 1-800-890-9855 CHRIS LANGHAUG 604-534-7974 langhaug@naicommercial.ca Small strip mall Langley $850,000

CAMPBELL HEIGHTS LAND, BLDGS., & BUSINESS 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

ALFRED LEUNG 604-534-7974 CHRIS LANGHAUG

INDUSTRIAL PROPERTIES FOR SALE / LEASE INVESTMENT/RE-DEVELOPMENT COMMERCIAL SITE - LANGLEY, BC

Spineless politics, low supply keep prices high UBC professor Michael Goldberg: dump dumb bylaws, push higher density to slow soaring home costs

9 REITS HUNT DOWN MARKET

MERRITT, BC OPPORTUNITIES

MINI STORAGE ON 1 ACRE PARCEL

$4.29 SEPTEMBER 2011 Vol. 26/Issue 9

â–˛

s 5P TO !CRES 4OTAL s /WNER WILL SUBDIVIDE TO SUIT s /FFERED AS :ONED AND 3ERVICED s 4RUCK 3TOP )NDUSTRIAL #OMMERCIAL s !CCESS ON TO AND OFF OF (WY s &ULL (IGHWAY &RONTAGE s Asking: Contact LIsting Broker

SELF STORAGE – FOR SALE OSOYOOS, BC

INDUSTRIAL FREESTANDING – MISSION

Asset search stoops to bag even old stores and small-town apartments 17 5 BEST BUYS FOR LANDLORDS

Hint: The real money is not being made in high-priced Kitsilano

SPECIAL SECTION • B11

HOT PROPERTIES

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

Trailer park Prince George, BC $1.9 MILLION Holding Property Port Kells - 5 acres Warehouse Port Kells buy or lease up to 50,000 sq. ft. Please call Glen for more information

s !CRES n # ZONING s &REE STANDING BUILDINGS s GAS BAR 2ESTAURANT AND 2ETAIL s %XTRA ACRES FOR RE DEVELOPMENT n #OMMERCIAL 2ESIDENTIAL s 0RIME &RASER (IGHWAY LOCATION STREET ACCESS s $3.3 million

GLEN LAMBERT 604-999-3707

PUBLICATIONS MAIL AGREEMENT 40069240

s SQ FT FOOTPRINT n OPEN WAREHOUSE WITH MAIN mOOR OFlCES s ACRES LOT s ,EASE BACK OPTION s COVERED DOCK GRADE LOADING DOORS s $2,950,000 EXCELLENT VALUE!!!

DON MACDONALD, CCIM OR ANGIE MACDONALD

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

WASHINGTON INVESTORS! Big Box Development Opportunity - 69 acres Zoned Commercial Smokey Point - 12 million ($4 sf) - abuts newly funded yover overpass which connects big box stores in area (Walmart, Target, Costco)

Call Mike, your Washington buyer’s advocate, 1-360-366-3357

A2 Lower Mainland OWN IN HILLCREST/CLAYTON CALERA

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ERIC WALKER

FOR SALE YALETOWN STRATA OFFICE

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IAIN YOUNG

FOR SALE - 61 ROOM HOTEL FOR SALE - 12 STRATA TITLED WITH RESTAURANT TOWNHOUSES

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CHRIS DRIVER*/ BRETT AURA DON DUNCAN*

CHRIS DRIVER* DON DUNCAN*

HIGH VISIBILITY INVESTMENT OPPORTUNITY

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MANNING PARK RESORT

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www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

FOR SALE 780 EAST CORDOVA STREET

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FOR SALE - 9948 100TH STREET, FORT ST JOHN

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FOR SALE - 88 CREEKSIDE ROAD, ROSSLAND, BC

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FOR SALE FREESTANDING OFFICE/ WAREHOUSE BUILDING

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MARK TREPP* BOE IRAVANI

BILL RANDALL*

BILL RANDALL*

FLAVIO UNTI GREG MILES

BRAND NEW LARGE BAY STRATA UNITS IN CAMPBELL HEIGHTS

NORTH SHORE STRATA UNITS FOR SALE

FOR SALE - PRIME CORNER LOCATION IN KAMLOOPS

INVESTMENT OPPORTUNITY

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ANDREW GREEN* KEVIN VOLZ

BRAD NEWMAN-BENNETT DAVID CANNING

BART VANSTAALDUINEN*

BURTON VAN ALSTINE* HUDGE PARMAR*

FOR SALE RESIDENTIAL LAND

MULTIFAMILY DEVELOPMENT SITE

SELF STORAGE FOR SALE KELOWNA

PEMBERTON MULTIFAMILY SITES

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BILLRANDALL* RICK EASTMAN*

BILL RANDALL*

CHRIS NEWTON MATTHEW MACLEAN

BILL RANDALL* NOAH FREEDMAN

CHRIS NEWTON

GROCERY ANCHORED SHOPPING CENTRE

DEVELOPMENT OPPORTUNITY WITH INCOME

FOR SALE - 30 UNIT MOTEL 6255 MARINE AVENUE POWELL RIVER

COURT ORDERED SALE

32 ROOM MOTEL & RESTAURANT

FOR SALE - MAIN STREET MIXED USE

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BILL RANDALL*

ADAM FRIZZELL CRAIG HAZIZA

BILL RANDALL*

CHRIS DRIVER* DON DUNCAN*

MARK GALLAGHER HUDGE PARMAR*

BRETT AURA

BRETT AURA

LADNER MIXED USE SITE

86.85 ACRE DEVELOPMENT SITE NOT IN ALR

FOR SALE - 32860 MISSION WAY, MISSION, BC

FOR SALE - 0.78 ACRE LAND PARCEL

RETAIL INVESTMENT OPPORTUNITY

9% RETURN

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CHRIS NEWTON MATTHEW MACLEAN

HUDGE PARMAR* MARK GALLAGHER

BILL RANDALL*

MIKE HARDY

HUDGE PARMAR*

BILL RANDALL*

RETAIL SHOPPING CENTRE INVESTMENT OPPORTUNITY

FOR SALE INDUSTRIAL COMPLEX

FOR SALE - WILLOW CALE ROAD, PRINCE GEORGE, BC

FOR SALE 16113 20TH AVENUE SURREY, BC

SILVER CHALICE PUB HOPE, BC

FOR SALE MIXED USE MULTITENANT BUILDINGS

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HUDGE PARMAR*

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BILL RANDALL*

Moving with confidence

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BILL RANDALL*

BILL RANDALL*

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BILL RANDALL*

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

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

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

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CRAIG BALLANTYNE

$0/5&/54 4&15&.#&3 7"/$067&3 Â… -08&3 ."*/-"/% Â… 7"/$067&3 *4-"/% 4&$5*0/

41&$*"- 4&$5*0/ Â… #

HOT PROPERTIES

FEATURES 14 0/ 5)& $07&3 8IZ ZPV DBO¤U BGGPSE B IPNF

On the cover UBC professor Michael Goldberg: higher-density and highrises best solution for Vancouver’s soaring home prices Photo: Richard Lam

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

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

NIMBY-spooked politicians, regulations share blame

9

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Acquisition diet includes funky retail, small apartments

2–22 -08&3 ."*/-"/% 3&"- &45"5&

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

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10 4&37*$&4 22 4&" 50 4,: 46/4)*/& $0"45 3&(*0/

23–27 7"/$067&3 *4-"/% 3&"- &45"5&

17 8IFSF MBOEMPSET TIPVME CF JOWFTUJOH

Experts pick top markets in B.C. and Alberta Tight office market leads to downtown renovations Download a PDF of all our Regional Roundups online at www.westerninvestor.com

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

COLUMNS

.03& 0110356/*5*&4 ™ … */5&3*03 # $ … "-#&35" … 05)&3 1307*/$&4 … '3"/$)*4&4 ™ 4&& 4&$5*0/ #

6 8&45&3/ 1&341&$5*7& 19 */7&45*/( 3&"- &45"5& "44*(/.&/54

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

NEED LONG TERM INCOME? THIS IS IT!!

Four story, 80,795 SF rentable area on four floors. 93% leased @ $1,751,000 Net Income. Opened in June 2010, this building sits on the waterfront adjacent to the Bellingham Marina. Good views in every direction. 80 year pre-paid ground lease. Priced at $22,000,000. Call for further details.

367 UNIT APARTMENT SITE $2,510,000

Located 11 miles south of the Border near Exit 263 and I-5. 13.3 acres are fully serviced for apartments, plus 5.48 acres for commercial use such as office or medical. Main street recently improved with sidewalks, lighting, etc. Price includes an assemblage of 3 parcels totaling 18.79 acres.

For more information, call our office.

RON BENNETT COMMERCIAL REAL ESTATE Ron Bennett

SUTTON GROUP WEST COAST REALTY

(USN Ret.)

CALL

/ Owner - Broker

604-817-7338

Don Munro

COMMERCIAL / INDUSTRIAL *F A 3EALTOR SAYS p$)"3.*/( q HE REALLY MEANS *F A 3 3EALTOR SAYS p $)"3.*/( q HE REALLY MEANS ( 5*/: 4NOW 8HITE MIGHT FIT BUT FIVE OF THE DWARFS 5*/: 4NOW 8HITE MIGHT FIT BUT FIVE OF THE DWARFS WOULD HAVE TO FIND THEIR OWN PLACE 4EE p$UTE q p&NCHANTING q AND p(OOD 4TARTER )OME q

LANGLEY 203-20771 Langley Bypass s SQ FT COMMERCIAL STRATA s &ULLY LEASED s $750,000

CHILLIWACK 8558 Chilliwack Mountain Road s ACRE 6ACANT )NDUSTRIAL ,OT s 'REAT ,OCATION s :ONED - 'ENERAL )NDUSTRIAL - (EAVY )NDUSTRIAL s ,EVEL LOT WITH A COMPACTED GRAVEL BASE s $4.6 Million

8495, 8565 & 8579 Aitken Road s ACRE )NDUSTRIAL 6ACANT ,OTS s :ONED - 3ERVICE )NDUSTRIAL s ,OTS ARE PERFECT FOR SMALL BUSINESS OPERATORS s $325,000 ea

botsold@intergate.ca

ACREAGES

COMMERCIAL / INDUSTRIAL

ACREAGES

*F A REALTOR SAYS p0/& 0' " ,*/%q *F A REALTOR SAYS p0/& 0' " ,*/%q HE REALLY MEANS 6(-: "4 4*/ HE REALLY MEANS 6(-: "4 4*/

*F A REALTOR SAYS p6NIQUE $ITY )OMEq HE REALLY MEANS *5 64&% 50 #& " 8"3&)064& MEANS *5 64&% 50 #& " 8"3&)064&

SURREY 11151 Bolivar Rd. & 13340 112 Ave

SURREY 188th Street and 80th Avenue

s !CRES ON CORNER s :ONED #() (IGHWAY #OMMERCIAL s $2.75 Million

s !CRES s &UTURE 0OTENTIAL s $3 Million

s !CRES IN #AMPBELL (EIGHTS s $ESIGNATED "USINESS /Fl CE 0ARK s $2.5 Million

ACREAGES *F A REALTOR SAYS p.645 4&& 50 #&-*&7&q *F A REALTOR SAYS p.645 4&& 50 #&-*&7&q & ITsS AN ABSOLUTELY ACCURATE STATEMENT

CHILLIWACK 51140 Ruddock Road s !CRES s 0OTENTIAL FOR ,OTS s $1 Million

7640 Nixon Road s !CRES s "EAUTIFUL LOG HOME AND LARGE SHOP s $995,000

700 Columbia Valley Road s !CRES s 0RIME &ARM ,AND s $1.25 Million

✓ GOOD RETURN

27465 60th Avenue s ACRES s "EAUTIFUL LOG HOME s &ULLY FENCED YARD s $1.299 Million

27571 60th Avenue s !CRES s (OUSE AND -ODULAR (OME s $749,000

*F A 3EALTOR SAYS p.6$) 406()5 "'5&3q *F A 3EALTOR SAYS p.6$) 406()5 "'5&3q 3 HE REALLY MEANS *5s4 #&&/ 0/ 5)& ."3,&5 HE REALLY MEANS *5s4 #&&/ 0/ 5)& ."3,&5 "5 -&"45 58*$& #&'03& "/% 45*-"5 -&"45 58*$& #&'03& "/% 45*-- /0 0/& 8"/54 *5

19518 32nd Avenue

*F A REALTOR SAYS p.6$) 105&/5*"-q HE REALLY MEANS (3*. 4TEER CLEAR UNLESS YOU HAVE A LOT OF MEANS (3*. 4TEER CLEAR UNLESS YOU HAVE A LOT OF MONEY AND BELIEVE YOUR BLIND DATES REALLY DID HAVE MONEY AND BELIEVE YOUR BLIND DATES REALLY DID HAVE NICE PERSONALITIES 4EE p3EADY TO 3EHAB q NICE PERSONALITIES 4EE p3EADY TO 3EHAB q AND p'IXER 6PPER q

✓ VALUE FOR $

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

*F A 3EALTOR SAYS p$0.1-&5&-: 61%"5&%q IT MEANS "70$"%0 61%"5&%q IT MEANS "70$"%0 %*4)8"4)&3 "/% )"37&45 (0-% $"31&5*/( 03 7*$& 7&34"

LANGLEY 6842 202B Avenue & 6868 202B Ave.

ABBOTSFORD 27691 Downes Road

s 0RIME 4OWNHOUSE $EVELOPMENT 3ITE s $ESIGNATED 50! WITH UNDERGROUND OR STRUCTURED PARKING s 6IEW 0ROPERTY CLOSE TO ALL !MENITIES s $1.7 Million

s !CRES s 0OTENTIAL "ERRY ,AND s ,ARGE 3HOP "ARN s $2.25 Million

48th Avenue & 216th Street

889 Lefeuvre Road

s !CRES TWO PARCELS s $200,000/ac

s !CRE s ,ARGE -USHROOM &ARM s 3HOP #OMPOSTING &ACILITY s 'ROWING "ARN s -ULTI 5SE "UILDING s $5.8 Million

27449 60th Avenue s !CRE 0ARCEL s ,ARGE #OUNTRY (OME WITH (ELPER 3UITE s %ASY !CCESS TO 4RANS#ANADA (IGHWAY s $699,000

✓ TENANT COVENANT

✓ UPSIDE

✓ CAREFREE

A4 Lower Mainland

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

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Featured Investment Opportunities

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PRIME DOWNTOWN DEVELOPMENT SITE FOR SALE

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1396 Richards Street, Vancouver SQ FT LOT OF A CITY BLOCK $$ , ZONING SQ FT BUILDABLE DENSITY /NE OF A FEW REMAINING UNDEVELOPED PARCELS OF THIS SIZE IN $OWNTOWN 3OUTH !DJACENT TO 9ALETOWN #ONCORDE 0ACIFIC 0LACE /PERATING BUSINESS INCLUDED WITH SALE

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Tom Bakker, James Bayley

MIXED-USE DEVELOPMENT

DEVELOPMENT OPPORTUNITY

#12 ," &#0'2 %# 3'*"',%G 9< 13'2#1 4#0 %',% -4#0 9IBBB G

6158–6178 East Boulevard, Vancouver Rare opportunity in Kerrisdale Two properties on 12,452 sq ft lot :ONED # s SQ FT OF BUILDABLE DENSITY

2450 Ticehurst Lane & 2455 Gately Avenue Port Coquitlam SQ FT SITE WITH RIVER FRONTAGE SQ FT OF BUILDABLE DENSITY

Chris McIntyre, James Bayley, Tom Bakker

Chris McIntyre, James Bayley, Tom Bakker

For more investments, visit www.dtzvancouver.com or call (604) 684 7117

HOTELS, APARTMENT BUILDINGS and SITES in VANCOUVER, VICTORIA, NANAIMO and SQUAMISH!

5- 1#. 0 2# 3'*"',%1 2-2 **',% 9?I:@B -$ 3'*"',%I 8-,#" .3 *'! 11#+ *7G

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Featuring the Chieftain Hotel in Squamish!

North Vancouver, Apartment buildings: adjoining site 2 x 12 suites at $4,250,000 and 11 huge suites (2/3 bedroom) $2,300,000 (+ others).

•

North Vancouver, holding and development properties: (4 large SF lots with houses) next to high rise development, new Capilano Community Center and Retail Village/Town Center. Hold until spring or apply for rezoning now.

•

West Vancouver,British Properties. 2 large adjoining view lots with 3 lot subdivision possibilities, or join with neighbours for more!

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

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

1+

•

!'

Nanaimo, Waterfront Hotel, marina and condo Site. $6,500,000. An existing income property plus 2 great development opportunities.

7* +7 +*

•

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Island Waterfront Boutique Hotel and Marina. Quality in a great Location.

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Port Moody Apartment building. Completely rebuilt: plumbing, flooring, roof, wiring, cabinets, windows, etc. 32 huge suites (7 x 1bed, 22 x 2bed, 3 x 3bed). Excellent building, good location, good financing. 5.6% cap rate, $385,000 net.

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Squamish, condo Site: 30 units, downtown. $1,450,000 + terms and/or possible joint venture available. Permit ready and fees paid.

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It has 25 rooms (plus guest suite) 150 seat pub, 210 seat night club, 50 seat lounge, leased cafĂŠ / retail outlet. Many renovations done over the last few years including new roof, flooring, plumbing, electrical, plus several rooms redone boutique style. This hotel makes good money! Priced at $2,588,000. Cash of $588,000 + terms!

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WESTCOAST REALTY

7'3;/11+ !97++9 9. 1447 $'3)4:;+7 >

> <<< )411/+78)'3'*' )42

Lower Mainland A5

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

APARTMENT BUILDING SPECIALIST EAST VANCOUVER

BURNABY

PENTICTON

8 Character Town homes Fully renovated, Views Gross Revenue $134,244

48 Unit Apartment Building Near Metrotown & Skytrain Gross Income $513,107

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

NEW WESTMINSTER

NEW WESTMINSTER

LANGLEY

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

28 Unit Apartment Building Great Tenant Base Gross Income $236,590

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

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

604.263.2823

RETAIL SALE

INDUSTRIAL SALE

INDUSTRIAL SALE/LEASE

3410 Lougheed Highway, Vancouver n SQ FT Attractive lease rate Quality concrete office construction

1632 West 4th Avenue, Vancouver n SQ FT RETAIL BUILDING FRONTAGE ON 7EST TH User/investor opportunity

117 West 5th Avenue, Vancouver SQ FT BUILDING ON X LOT 'RADE LOADING s (EAVY POWER s CLEAR CEILING HEIGHT !IR CONDITIONED OFFICES s 6ACANT POSSESSION

42 West 8th Avenue, Vancouver SQ FT STOREY FREESTANDING BUILDING Owner/user opportunity with income DOCK LEVEL LOADING DOORS s !MPLE PARKING

Don Mussenden, Anthony Lux

James Bayley, Tom Bakker, Meghan Kennedy

Conor Finucane

Ryan Saunders, Mitch Ellis

INDUSTRIAL SALE

LOT FOR SALE

STRATA RETAIL SALE OR LEASE

INDUSTRIAL SALE

1250 Frances Street, Vancouver SQ FT FREESTANDING OFFICE WAREHOUSE BUILDING Recently renovated /WNER OCCUPIER OPPPORTUNITY s :ONED )

1186 Granville Street, Vancouver SQ FT DEVELOPMENT SITE &32 Parking income

1738 West 2nd Avenue, Vancouver SQ FT RETAIL STRATA JUST EAST OF "URRARD 3TREET !IR CONDITIONED s (IGH QUALITY IMPROVEMENTS 5NDERGROUND PARKING s 6ACANT POSSESSION

4090 Graveley Street, Burnaby SQ FT BUILDING ON SQ FT LOT 'ILMORE !VENUE EXPOSURE !MPLE PARKING s .EAR 'ILMORE 3KY4RAIN STATION

Ryan Saunders, Mitch Ellis

James Bayley, Meghan Kennedy

Conor Finucane, Howard Malchy

Steve Caldwell

INDUSTRIAL SALE

INDUSTRIAL SALE

INVESTMENT SALE

INVESTMENT SALE

140 Glacier Street, Coquitlam 2ARE HIGH QUALITY SQ FT FACILITY ON ACRE DOORS s .EW ROOF s &LOOR DRAINS 6ENDOR WILL LEASE BACK UP TO SQ FT

#109 &110 - 17 Fawcett Road, Coquitlam STRATA UNIT IN RIVERFRONT LOCATION Front office, rear loading !IR CONDITIONED OFFICES s PHASE POWER

904 & 918–990 Victoria Street, Kamloops Service commercial redevelopment FULL CITY BLOCK FRONTAGE s LOTS TOTALLING ACRES SQ SQ FT BUILDINGS s !SKING

375 Lynn Avenue, North Vancouver .EW RIVERFRONT BUILDING Single strata leased investment sale CEILINGS s PHASE POWER s (WY PROXIMITY

Chris McIntyre, Steve Caldwell

Steve Caldwell, Phil Gibbons

Steve Caldwell, Murray Wills

Rand Thomson

Pr ic e

Re du ce d

Cl os e

to

Sk yT ra in

STRATA OFFICE SALE/LEASE

For more information on our available properties and range of commercial real estate services please contact us today. Tel: (604) 684 7117

www.dtzvancouver.com

Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent veriďŹ cation. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 09/2011.

A6 Lower Mainland

www.westerninvestor.com SEPTEMBER 2011 WESTERN INVESTOR

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5

he United States, Canada’s best friend and largest trading partner, is in serious financial trouble. The bottom line is that, barring the work of true heroes, it is impossible for the U.S. to pay off its huge national debt, now pegged at more than $14 trillion with the meter running. But, unlike other economic basket cases, such as Greece or Ireland, the U.S. has within its borders a collective group of individuals who could pay off the entire debt and still have plenty of resources to invest in what would instantly become – once again – the greatest economic powerhouse the world has ever known. These heroes are the 3.1 million millionaires that the World Wealth Report from Merrill Lynch says are living in the U.S. right now. The number of ultra-wealthy has actually increased since the economic crisis in 2008. Merrill defines millionaires as individuals with $1 million or more in assets, not including primary home, collectibles, consumables and consumer durables. At least 40,000 Americans have more than $30 million in cash. A handful have personal wealth

of more than $10 billion. Microsoft founder Bill Gates, for example, is worth $56 billion and investment guru Warren Buffet has $50 billion. But, heck, even Tiger Woods and Oprah are in the $20 billion club. If these and other wealthy heroes stepped forward and agreed to hand over 70 per cent of their investment income for two years, the entire national debt could be wiped out. After all, these people have become rich because the opportunities offered by America matched their hard work and talent. Arguably, none could have done as well any other place on earth. Why would they ante up? Because a debt-free America would be an economic colossus that would attract investors from around the world and kick-start a domestic upturn that would rival the post-war boom. U.S. heroes who paid the debt could count on recouping their money quickly in such an environment. We can only imagine the hero parades, the fawning press and the adoring public. Priceless PR. And a debt-free America would be a much happier and safer place. Right now

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

Golden, BC – 13 acres, 101 pads ............5,900,000 Lac La Biche, AB – 58 pads, 157acres ...3,000,000 North Battleford, SK – 60 pads, 10.9 ac ..2,700,000 Invermere, BC – 31.48 acres, MHP site.. 2,200,000 Kindersley, SK – 51 pads, 4.0 acres ........1,400,000 Radium, BC – 9.77 acres, Cml Hwy Frtg .1,200,000 Hope, BC – 40 pads , 4.05 acres ............1,100,000 Quesnel, BC – 30 pads, 9.25 acres ........... 725,000 Cherryville, BC – 25 pads, 22 acres .......... 685,000 Ashcroft, BC – 8 pads, 0.64 acres ............. 399,000 Houston, BC – MH & RV Park, 40 ac+/- .... 399,000

/&95 .0/5) Western Investor presents a report on Northern B.C. with a close look at the potential and the challenges in the northeast, and even the Yukon. The North is Canada’s future, but how can an investor get a piece of the action today? We also look at inland ports and trucking routes that are changing the way business is done in the Prairies and B.C.’s Interior. Our regional reporters file from Kamloops, Moose Jaw, Selkirk and Wetaskiwin. Plus we present all the news and commentary needed by western investors.

ADVERTISING DEADLINE FRANK O’BRIEN EDITOR wieditor@biv.com

LIQUOR STORES, PUBS, HOTELS/MOTELS #SJOH BMM 0GGFST

Golden, BC – 101 pads, 13 acres ............5,900,000 Lac La Biche, AB – 58 pads, 157 acres ...3,000,000

just paying the interest on the U.S. national debt demands more money – $412 billion a year – than health care, military and discretionary government spending combined. Payments could total $4 to $6 trillion over the next decade without making a dent in the total debt. That kind of money could be put to work rebuilding America, and the global economy along with it.

NANAIMO PUB & LIQUOR STORE $1,275,000 SHARE SALE 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. NEW WESTMINSTER PUB & LIQUOR STORE $2,950,000 (SHARE SALE) SURREY PUB & LIQUOR STORE – Money maker. $2,000,000. SHARE SALE.

Hurry!

QUEENSBOROUGH DEVELOPMENT PROPERTY – Many options – cleared land, approx 34,000 sq ft – zoned commercial/residential. 3 PROPERTIES - OWNER MOTIVATED BURNABY PUB & LIQUOR STORE –Business only. $2.5 Million 3 SURREY PUBS IN BUSY SHOPPING CENTRES - PRICED BELOW REPLACEMENT GREAT TERMS.

TOLL FREE: 1-888-251-2822 DIRECT: 604-302-3771 FAX: 1-888-804-1394 EMAIL: HJESSE@MOBILEPARKS.COM

Homelife Glenayre Realty www.mobileparks.com

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

BARRY BOCK / DON KAYTOR Phone HOMELIFE BENCHMARK TITUS REALTY

604-575-5262

Publisher Cheryl Carter Editor Frank O’Brien Contributing Writers Curt Cherewayko,Dave Husdal, Geoff Kirbyson, Glen Korstrom, Wesley McMillan, Peter Mitham, Kevan O’Brien, Copy Editor Noa Glouberman Production Manager Rob Benac Production Natalie Reynolds, 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.

Phone

604-599-9287

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

www.homelifebc.com

OCTOBER 2011 issue: September 12, 2010

GAS STATION WITH LAND & BUILDING $2.9 MIL FRASER VALLEY GAS STATION, C-STORE, LIQUOR STORE, PIZZA SHOP, 4 BDRM LIVING ACCOMMODATION UPSTAIRS (BUSINESS ONLY) PRICE: ONLY $219,000 OR BUSINESS W/LAND & BUILDING $1.65M 2 MORE GAS STATIONS WITH LAND AND BUILDING (LOWER FRASER VALLEY AND UPPER FRASER VALLEY) $1.8 MIL EACH FRASER VALLEY INDO CANADIAN GROCERY STORE and FRESH PRODUCE $249,900 (BUSINESS ONLY) INDO-CANADIAN GROCERY STORE, FRESH PRODUCE, VIDEO AND RESTAURANT (BUSINESS ONLY) FRASER VALLEY. PRICE: $149,900 MORE DETAILS CALL:

PAMMI MANDAIR CELL: 604-825-8121 OFFICE: 604-859-3141 paramjitm@shaw.ca www.pammimandair.ca

GLENAYRE REALTY

Lower Mainland A7

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

For more information visit our website

Vancouver Office 604 687 7331 s

www.avisonyoung.com

s

FEATURED LISTING FOR LEASE – Brewery District s 0RIME /Fl CE SPACE WITH LARGE m EXIBLE m OOR PLATES s LOCATED AT 3APPERTON 3KY4RAIN STATION s /VER MILLION SF OF 2ETAIL #OMMERCIAL HEALTH RESIDENTIAL 287 Nelson’s Court, Building 1 – “Translink Building” s SF AVAILABLE ,%%$ 'OLD #ERTIl ED /CCUPANCY 1 130 East Columbia Street, Building 3 s SF AVAILABLE LARGER OPPORTUNITIES AVAILABLE s 0RE LEASE BUILT TO SUIT OPPORTUNITIES #JMM &MMJPUU %BSSFMM )VSTU

FOR SALE – 1550 East Hastings Street, Vancouver s SF SITE CITY CE E D I BLOCK W FT OF FRONTAGE R C

FOR SALE – 1496 Rupert Street, North Vancouver s #OMMERCIAL BUILDING WITH BDRM PENTHOUSE APT ED s /NE OF A KIND BUILDING C U ED R s ,OCATED ON THE CORNER OF MOUNTAIN HIGHWAY ICE PR 2UPERT 3TREET .BUU 5IPNBT ,ZMF #MZUI s

FOR SALE – 9532 194A Street, Surrey s ACRE LOT WITH SF BUILDING s !DDITIONAL MEZZANINE OFl CE s TON CRANE HEAVY POWER

FOR SALE - 1484 Rupert Street, North Vancouver

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

PR

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s !LSO SUITABLE FOR OWNER USERS .BSL )BOOBI 3PC (SFFS

+PIO &BLJO .JDIBFM 'BSSFMM FOR SALE – Unit 106 - 2567 192 Street, Surrey s #OURT ORDERED SALE s &RONT EXPOSURE TO 3T s DOCK LOADING DOORS s SF OF 7AREHOUSE /Fl CE SPACE

RT D U RE CODE LE R A O S

+PU .BUUV +PIO &BLJO FOR SALE 10816 – 10840 124th Street, Surrey s SF ON ACRES s (EAVY POWER CRANES TRUCK SCALE s 0ARTIALLY PAVED COMPACTED FENCED YARD +PIO &BLJO .JDIBFM 'BSSFMM

s 4ENANTED BY (ONDA $EALERSHIP s .ET )NCOME PER ANNUM s ACRES ,ZMF #MZUI .BUU 5IPNBT s

FOR SALE – 171 East 1st Street, North Vancouver R T DE AC N U TR N CO

s $IRECT EXPOSURE TO OVER VEHICLES PER DAY s $EVELOPMENT /PPORTUNITY n &32

s )NDUSTRIAL BUILDING FOR SALE s /WNER WILL LEASE BACK FOR YEAR TERM s .BUU 5IPNBT ,ZMF #MZUI

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s )NDUSTRIAL /Fl CE BUILDING FOR SALE s ,OWER ,ONSDALE ADDRESS s -ULTI 4ENANT PROPERTY WITH UNDER MARKET RENTS s .BUU 5IPNBT ,ZMF #MZUI

FOR SUBLEASE - 10387 Nordel Court, Delta

s !CRES s SF /Fl CE 7AREHOUSE s #ENTRAL LOCATION %PVHMBT - .D.VSSBZ 3ZBO ,FSS

FOR SALE – 8392 Young Road, Chilliwack s &REESTANDING BUILDING ON ACRES s &LEXIBLE 3ERVICE #OMMERCIAL )NDUSTRIAL ZONING s %XCELLENT EXPOSURE PARKING ACCESS

.JDIBFM 'BSSFMM (MFOO (BSEOFS

FOR SALE – 9781 186th Street, Surrey

PR

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s ACRES IN PRIME 0ORT +ELLS LOCATION s ,IGHT )NDUSTRIAL ZONING s /UTSIDE STORAGE PERMITTED s BDSF +PIO &BLJO .JDIBFM 'BSSFMM

FOR SALE – 6000 No.5 Road, Richmond s 3ECURE LONG TERM INVESTMENT WITH STABLE CASH m OW s -AJOR INTERSECTION WITH HIGH TRAFl C VOLUMES s %XCELLENT EXPOSURE ACCESS s #AREFREE INVESTMENT WITH ... LEASE s #BM "UXBM

SOLD - 123 East 3rd Avenue, North Vancouver s 2ECENTLY RENOVATED )NVESTMENT PROPERTY s UNIT APARTMENT LD SO s 0RIME LOWER ,ONSDALE LOCATION

FOR SALE – Dollarton Business Park - 197 Forester Street, North Vancouver

FOR SALE – 254 Royal Avenue, Kamloops

.BUU 5IPNBT 3PC (SFFS

s "RAND NEW STOREY STRATA OFl CE m EX INDUSTRIAL UNITS s ,OCATED IN .ORTH 6ANCOUVERgS FASTEST GROWING COMMERCIAL HUB s 5NIT SIZES FROM APPROX SF TO APPROX SF FULL m OOR 5FSSZ 5IJFT *BO 8IJUDIFMP

s UNITS s ACRES s -AJORITY OF SUITES RENOVATED s QFS TVJUF

$ISJT 8JFTFS 3PC (SFFS

FOR SALE - 1430 Estevan Road, Nanaimo s UNITS s 'REAT SUITE MIX LOCATION s 0ANORAMIC OCEAN VIEWS 3PC (SFFS $ISJT 8JFTFS s .EW PRICE

FOR SALE – Burns Lake Apartment Portfolio s "UILDINGS n SUITES s #AP 2ATE ON ACTUAL INCOME s TOTAL ACRES s QFS TVJUF

$ISJT 8JFTFS

FOR SALE/LEASE – 2372 Townline Rd, Abbotsford

FOR SALE – 9340 Nowell Street, Chillliwack

s SF 7AREHOUSE 0RODUCTION &ACILITY s !CRES s 1 4 ' 1BVM 1VSFXBM FOR SALE – 20800 Westminster Hwy, Richmond s SF OF 2ETAIL /Fl CE 7AREHOUSE USE s #LOSE 0ROXIMITY TO AIRPORT 53 "ORDER (IGHWAYS s 1BVM 1VSFXBM

s SUITES ONES "ACHELOR s .EW ROOF s #OVERED PARKING 3PC (SFFS $ISJT 8JFTFS FOR SALE/LEASE – 1455-1475 East Georgia Street, Vancouver s SF OF /Fl CE 7AREHOUSE SPACE D CE U s ) ,IGHT )NDUSTRIAL ZONING D RE E C s $OCK AND 'RADE LOADING I PR s +PIO -FDLZ 4USVBO 4BEEMFS

A8 Lower Mainland

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

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

The REALTOR速 trademark is controlled by The Canadian Real Estate Association (CREA) and identifies real estate professionals who are members of CREA.

A9

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

FEATURE Buying spree by cash-heavy, asset-hungry real estate investment trusts reaches down market

3&*5T SPBS

building this month. With the Alberta deals, Allied has completed WESTERN INVESTOR 19 acquisitions so far in 2011 for $350 million, 13 in Western Canada, five in Toronto and one t seems no commercial real estate is safe in Montreal. Less than 12 months ago, Allied from asset-hungry real estate investment had no property west of Winnipeg. trusts (REITs), which are now reaching down market to swallow funky retail build- )PX UIFZ XPSL ings in Calgary and even old apartment Real estate investment trusts invest in comblocks in small-town Alberta. mercial real estate and offer investors a way The scale of acquisitions is voracious: in a to profit from rising property values, with the single day in July, REITs bought $1.75 billion added benefit of liquidity from the equity marin real estate, considered an all-time record. ket. Investment strategists see them as a safe On that day, Toronto-based Dundee Real high-yield alternative to bond options or other Estate Investment Trust bought 29 proper- yield equities. This year, however, is especially active as ties from U.S. private equity giantBlackstone Group for $831.8 million, which included REITs find that some prime properties are being offered for sale because their owners properties in Toronto and Edmonton. On the same day, Transglobe Apartment think market prices may be peaking. At the Real Estate Investment Trust said it would same time, mortgage lending rates continue to buy a $740 million apartment portfolio, while sit near historical lows. Allied Properties Real Estate Investment For instance, Canada’s biggest retail REIT, Trust reported $179 million in acquisitions in RioCan, obtained $245 million in mortgage Toronto and across the West. financing in the first six months of this year at The Transglobe REIT deal included a port- an average interest rate of 5.2 per cent. And it folio of 57 properties comprising 33 highrise, continues on an acquisition binge. RioCan chief executive Edward Sonshine 31 mid-rise and 30 low-rise residential buildings and three townhouse complexes in total told analysts on a conference call that it would aggregating 7,518 residential suites. The only be “quite achievable” to hit an acquisition budwestern property in the mix is a 24-unit low- get of $800 million “or a bit higher” this year. rise apartment building in Brooks, Alberta. Previously, the REIT had earmarked $600 milAllied REIT’s Alberta buying binge snapped lion. up four heritage retail buildings in Calgary, and RioCan renewed 1 million square feet during the second quarter at an average rent increase a fifth in Edmonton. In Calgary, Allied bought Fashion of 13.9 per cent. It also added five properties Centre, a trendy 25,600-square-foot build- in the quarter. The western retail sector continues to be a ing; the 27,000-square-foot Art Central; the 48,000-square-foot Alberta Hotel building, and top target for RioCan and smaller REITs. the heritage Cooper Block, with 35,000 square Toronto-based Primaris Retail REIT has feet. Allied also bought Calgary’s Kipling just bought the St. Albert Centre in St. Albert, Square office building. Alberta, as part of a five-mall, $582 million In Edmonton, Allied bought the deal with Ivanhoe Cambridge. 255,000-square-foot Revilon Boardwalk buildPrimaris is also spending heavily this year ing and plans to buy the nearby Metals Ltd. in redeveloping its Orchard Park Shopping WI STAFF

Photo: Fashion Centre

*

Fashion Centre, a funky heritage retail centre in Calgary, was snapped up by Allied REIT.

Centre in Kelowna, B.C. The $7.7 million project includes the construction of approximately 25,000 square feet of new retail space and the redevelopment of about 10,000 square feet of existing area. Primaris also has a redevelopment project underway at Grant Park Shopping Centre in Winnipeg. This $6.5 million project includes the realignment and upgrade of almost 11,500 square feet of common area. Meanwhile, Partners Real Estate Investment Trust has bought the Evergreen Shopping Centre, a five-building, 88,200-square-foot open-air shopping centre in Sooke, B.C., for $15.8 million. Anchored by a Western Foods grocery store, a newly-constructed Shoppers Drug Mart, a BC Liquor outlet and a Royal Bank branch, the property is currently 96.2 per cent leased. The shopping centre generates net operating income of approximately $1.2 million a year.

/FX 3&*5 SVMFT

This year marks the first that Canadian REITs are reporting under International Financial Reporting Standards, which means they’ll have greater flexibility in how they report key

metrics, such as funds from operations. They’ll also be placing a value on their own portfolios – something international companies have done for years. One of the key changes will be how REITs report the value of their holdings. Analysts and investors used to have to do their own guesswork, but now the companies have two choices: value the portfolio based on current market value or based on historical prices. Either way, it adds up to more information for investors. “That is a huge value for analysts and investors,” said Michael Smith, an analyst at Macquarie Securities. “It’s also a big deal for international investors, who may take more notice of the [Canadian] REITs now that they are reporting those numbers.” Canadian REITs gained 9 per cent on the S&P/TSX in the second half, outpacing the broader index, which had returned 4 per cent (and is likely lower after the August meltdown). Most asset classes have seen strong returns, with retirement and long-term care companies seeing gains of 28 per cent and residential REITs gaining 10.5 per cent. Only the hotel subsector saw a decrease, down about 10 per cent.◆

-PXFS .BJOMBOE

DISTRESSED ARIZONA OPPORTUNITIES

75th Ave Bell Rd

D

SOL

D

PHOENIX OFFICE BRAND NEW REMODEL ±8,433 SF - 21+ OFFICES LENDER OWNER - MAKE OFFER

D

RETAIL - PHOENIX GRAND AVENUE FRONTAGE ±1,630 SF REO - $145,000

BELL ROAD - PHOENIX ±4,042 SF SHELL OFFICE CONDO - HOSPITAL 1 MI. LENDER OWNED

SCOTTSDALE AIRPARK OFFICE / HANGAR ±5,422 SF MAKE OFFER

VERONA MPC - COOLIDGE ±340 ACRES - 593 LOTS LENDER OWNED MAKE OFFER

16TH STREET - PHOENIX ±11,431 SF OFFICE/INDUSTRIAL FACILITY LENDER OWNED

ARROWHEAD MALL - PEORIA ±3.88 ACRES ZONED COMMERCIAL PAD LENDER OWNED

ELESIO FELIX - PHOENIX ±10.8 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 ±5,000 SF BUILDING ±1.3 ACRE FENCED YARD ZONED C-3 / COUNTY ISLAND

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

83RD AVENUE - PEORIA (2) RETAIL PADS ADJACENT TO SPORTS COMPLEX MAKE OFFER

TIERRA GRANDE ESTATES - CASA GRANDE ZONED CR-5 MULTI-FAMILY ±46 ACRES - CONCEPTUAL PLAN MAKE OFFER

SOL SOL

411th

Ave

STEARMAN - CHANDLER NEW INDUSTRIAL FACILITY - ±30,000 SF CHANDLER AIRPARK LENDER OWNED

#"/, 08/&% t /05& 4"-& t %*453&44&% "44&54 2141 East Broadway Road, Suite 111 Tempe, Arizona 85282 www.thebenjamingroup.com

KENT D. BAKER Arizona is on sale and now is a great time to secure top-quality (480) 968-3033 Direct assets in one of the fastest growth areas in the United States! 300+ (602) 316-8136 Mobile days of sunshine annually, professional sports, world-class golf and kbaker@thebenjamingroup.com affordability make Arizona a perfect place to invest!

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/Services

" ,

COMMERCIAL MORTGAGES ALSO, Industrial, Multi-Residential & Construction

FOR ALL TYPES OF COMMERCIAL PROPERTY:

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

LEAKY CONDO FINANCING Full Building Repairs, Upgrades & Remediation

BUSINESS LOANS Acquisitions, Expansion, Equipment & A/R

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

604-552-4392 www.paramountfinancial.biz Marking our 15th YEAR in business !

604-565-6370

1-877-848-6370

michaellee@origingroup.ca

CHILLIWACK AVIATION PARK UNITS FOR SALE/RENT

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

Franchise Opportunity Blenz Master Franchise in Vancouver, Vancouver Island, Ontario & Alberta Blenz Franchises ........$139,900, $179K - $488,800 Steamrollers Franchise Vancouver .................................................................. $319K (Davie St.) Wired Monk Individual Franchise Opportunity Wired Monk ....................$99K, $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

Matthew Moadebi 604-329-6771 (Cell)

Profitable Business Excellent ROI. Business is in its 9th yr. Owner will stay on for up to 3 months. Asking $500,888 for business and equipment Contact

KEN 604-838-0985 Ken@me.com

m.m7430@gmail.com

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

COMMERCIAL R E A L E S TAT E S E R V I C E S SENIOR'S DEVELOPMENT SITE SALE: $2,480,000 Foundation in place, tendered plans, permits, ready to complete.

ARIZONA FORECLOSURE

* 8JMM 4IPX :PV 5IF .POFZ $ UNIQUE, HIGH-RATIO PRIVATE LENDING $ Access to over 50 private lenders (private, conventional, syndications) $ Special low rates for apartment buildings $ Creative financing $ Assistance with developing your business plan

PROJECT FINANCING IN BC AND ALBERTA!!! Judy McLean 1-888-793-9666 jude.mclean@vericoselect.com VERICO SELECT MORTGAGE

For all your real estate financing needs

MORTGAGE FINANCING www.peoplestrust.com BRITISH COLUMBIA REGION

Brian D. Kennedy 604-331-2211

BRITISH COLUMBIA REGION

Jonathan P. Wong 604-331-2218

PRAIRIE REGION

Dennis K. Aitken 403-205-8203

PRAIRIE REGION

Daniel Stewart 403-205-8202

Mixed Development New Westminster 39 Apartment Units, 7 Townhouse Units $2.85 Million

INVESTMENT OPPORTUNITY $15 Million Total Investment $1.5 Million Required for Startup

30 ACRES Residential Mountain Top 20 Estate Homes - $3.5M EQUITY POSITION AVAILABLE NEW EXPANSION FRANCHISE Junior "A" Hockey 3400 seat arena secured - well known coach/GM Your specialist in PRIME income-generating and redevelopment opportunities:

$50,000 Minimum Investment Equity Positions Available For More Information Visit

GREENWATERAZ.COM

Lower Mainland A11

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

TIRED OF

A:6H>C<4

CENTRAL NORTH VANCOUVER LOCATION 1089 sq ft ground floor unit, with street level access, suitable for doctor, consultants, professionals. Upstairs staff area comes with kitchen. Two washrooms. Offered at:

$519,000

READY FOR DEVELOPERS

Downtown Wholesale Bakery

COMMERCIAL BUILDINGS Fully leased, top maintenance, good cap rate, $1.3 mil. firm

• Established more than 25 years • $900,000 sales per year • Lots of customers • Call for more details

DEVELOPMENT SITES Surrey, Langley, Abbotsford: small to large for detached homes, condos, duplexes, townhouses

Delta Gas Station

ALBERTA OPPORTUNITY 130+ ac. res. detached site beside lg. subd. & nr. Jobs, airport, & Edmonton. Be ready for 2012

• And convenience store, car wash • Established 15 years • Includes land, building and business

7dgk^c\ >ckZhibZcih

SHORT-TERM RES. HOLDING Near freeway in Langley’s exploding Willoughby area

RAY LEWIS

604-722-4588

+%)"+(."--+' dg Wdgk^c\5\bV^a#Xdb

West Coast Realty LANGLEY

604-812-9733

Vancouver 604.736.5611 | Fraser Valley 604.590.2444 | Macdonald Commercial Real Estatewww.macdonaldcommercial.com Services Ltd. FRASER VALLEY PROPERTIES | VIC SANDHAR & MIKE GREWAL PREC FOR SALE

•

7767 128th STREET, SURREY:

± 1.844 acre high exposure industrial/commercial site Asking $4,290,000 •

17351 16th AVENUE, S.SURREY:

± 14 acre residential development site. Asking $4,780,000 SOLD •

29352 FRASER HWY, ABBOTSFORD:

± 14 acre agricultural site fronting Fraser Highway Asking $1,795,000 •

FOR LEASE

7767 128th St., Surrey

5128 184th STREET, SURREY:

•

FOR SALE FOR SALE

20178 96 Ave., Langley

20178 96th AVENUE, LANGLEY:

Brand new 33,800 sq. ft. four-storey A-class office building for lease

•

3075 Willow, Vancouver 3075 Willow, Vancouver

½ acre industrial land next to Author Liang Bridge

•

16,000 sq. ft. freestanding warehouse/offices

•

Partly or fully leased with 5,500 sq. ft. warehouse & 1,300 sq. ft. of fice currently available for owner/user or tenanted

•

List Price: $3.6M

Elevator

•

11 underground parking

•

Occupancy: Fall 2012

•

2 Bdr units (avg. 1,000 sq. ft. each)

•

3 Blks to VGH & 1 Blk. to Shaughnessy

•

Ground floor units, 2-storey twnhse with outside entrance

•

Fireplaces in all units

•

In-suite laundry

•

Most units incl. 2 bath & hardwood

•

List Price: $3.85M

Retail units also available, including one drive-through location

•

•

Lease rates starting at $17.50

FOR SALE

FOR SALE | VIC SANDHAR

1275 W. 75th Ave, Vancouver

•

•

Excellent location near major highways in Langley, BC

1275 W. 75th Ave, Vancouver

•

8 units 17 years old Apartment Blg.

Various sized units available

•

FOR SALE FOR SALE

3075 WILLOW, VANCOUVER:

•

8.435 acres of agricultural Land Asking $1,077,000

FOR SALE

VANCOUVER PROPERTIES | BOB SCRAGG

1275 W. 75th AVE, VANCOUVER: Warehouse/Showroom/Office

FOR SALE

8369 River Way, Vancouver

8220 & 8232 120 th ST, Surrey

16558 18 th AVE, Surrey

CONTACT: BOB SCRAGG | 604.290.2906 bscragg@macrealty.com

3075 Willow, Vancouver •

8369 RIVER WAY, VANCOUVER: Warehouse/Showroom/Office

•

8220 120th & 8232 120 th ST, SURREY:

16558 18th AVE, SOUTH SURREY:

9.56 Acres of development land located in the Grandview Heights NCP #2 •

Designated as 10-15 units per acre

•

Asking $5,850,000

CONTACT: VIC SANDHAR | 604.590.2444 vsandhar@macrealty.com

located on the northeast corner of 120 th St & 82 nd Ave on the Surrey/ Delta border.

•

•

Combined site area of 43,698 sq. ft. (1 acre)

•

With two adjoining buildings on site Site totalling approx. 30,000 sq. ft.

• •

Call for further details Asking $3,600,000

59 lot subdivision Little Mountain Chilliwack • List Price: $4.5M •

MIKE GREWAL PREC | 604.590.2444 | mgrewal@macrealty.com

COURT ORDERED SALES | BRIAN TATTRIE & GARY KHAN • •

CONTACT: GARY KHAN | 604.714.4799

•

• • • • •

CONTACT: BRIAN TATTRIE - 604.714.4783 | GARY KHAN - 604.714.4799

•

FOR SALE: KOOTENAYS FURNITURE & APPLIANCE STORE | ALI MOHSENI • • •

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

Championship Golf Course with Hotel/Resort Potential, Vancouver Island Par 72, 6616 yards, 18 holes Championship Golf Course on 159 Acres 12,000 sq. ft. club house with pro-shop, restaurant, lounge and banquet facilities Full size driving range and large practice facilities 8,000 sq. ft. custom built home Preliminary plans for a 200 ro oms hotel and convention centre

CONTACT: JOHN SULLIVAN | 604.714.4773 | jsullivan@macrealty.com

Land, building & business for sale Approx. 10 acres in ALR. List Price: $1,975,000 PRICE REDUCED: $1,799,000

Kamloops 67-room boutique hotel

CONTACT: BOB SCRAGG | 604.290.2906

Suit Pool Hall/ Recreational/office business/coffee shop for owner/investor Near Riverside Heights Centre, North Surrey • List Price: $625,000 PRICE REDUCED: $575,000

•

•

List Price: $1,350,000

FOR SALE: RETAIL INVESTMENT | JOHN SULLIVAN •

FOR SALE: KAMLOOPS BOUTIQUE HOTEL | BRIAN TATTRIE

•

CONTACT: ERIC POON or KELVIN LUK | 604.736.5611

2 retail strata units, Langley: $599,000 REDUCED: $544,000 Office Building, New Westminster: $1,450,000 REDUCED: $1,350,000

CONTACT: GARY KHAN | 604.714.4799

Easy access to New South Fraser Perimeter road & HWY 99

RARE GOLF COURSE OPPORTUNITY FOR SALE | ERIC POON & KELVIN LUK

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

•

•

•

CONTACT: VIC SANDHAR | 604.590.2444 | vsandhar@macrealty.com

½ acre, upper office 1,000 sq. ft. main office/showroom 1,500 sq. ft. warehouse 6,000 sq. ft.

FOR SALE | GARY KHAN

High exposure redevelopment site •

•

Well established appliance/furniture store in Kootenays (Trail, BC) Land, building and business for sale Building size is approx. 33,000 sq. ft. on a 1.5 acre lot. List Price: $2,000,000 CONTACT: ALI MOHSENI | 778.840.8405 | amohseni@macrealty.com

Vancouver 604.736.5611 | Fraser Valley 604.590.2444 www.macdonaldcommercial.com

A12 Lower Mainland LOOKING FOR HOTELS/MOTELS IN LOWER MAINLAND, BC s (AVE SERIOUS "UYERS s !T LEAST ROOMS s "RANDED 0OTENTIAL TO BECOME

QUALITY MOTEL IN KAMLOOPS AREA, BC s /WNER WILL HELP lNANCE s ,OTS OF UPSIDE LAND FOR EXPANSION s 7ILL CONSIDER TRADES PROPERTY OR BUSINESS s - n OF REPLACEMENT VALUE

MOTELS FOR SALE IN INTERIOR, BC T s ,OW DOWN PAYMENT TRAC R CON s /WNER WILL HELP lNANCE s -ANAGE TO OWN UNDE

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

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

Linen Supply

Call Today For Your Management Proposal!!

Property Management

Established, successful linen supply company. Currently supplying tablecloths / napkins to restaurants and banquet halls under contract. Company also supplies washroom supplies and entrance carpets. A great family business! Excellent cash ow!

7 7

Asking $475,000.00

We give you our full attention at fair and competitive rates!

Phil Johnston 604-263-8800

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

PRUDENTIAL UNITED REALTY

Each office is independently owned and operated.

FRANCHISE OPPORTUNITY in major shopping centre downtown Vancouver. Offered for $150K

604-961-5665 richard@expertrealty.ca www.expertrealty.ca Cell:

Plus an additional metal building. 1125 SQ FT

Strata is $229.81 Commercial Warehouse / Office Space. First Unit on corner with good exposure.

Vacant for a Quick Transfer for Your Business. For more info Doug @ 604.703.6733 Sub Lease Opportunity. 5130 SQ FT Gross total.

***************************************************************

Plus a Purchase Option.

BEST VALUE INDUSTRIAL STRATA NORTH RICHMOND $645,000 = $174 PSF 3716 sf = 2,850 sf warehouse with GRADE + DOCK; showroom + 2nd oor ofďŹ ces with separate entrance

Asking $14.00per SQ FT + triple net. Built in 2007.

***************************************************************

lorne@chernochan.com www.chernochan.com WESTCOAST

Doug Hansen 604.703.6733 doughansen@uniserve.com

Off: 604-858-7179

T/F: 1-800-830-7175

#1-7300 Vedder Rd, Chilliwack, BC, V2R 4G6

604-590-4888

RE/MAX Performance

wparsons@shaw.ca

ME H R A N M OA LLE M

2086 SQ FT

First unit with good exposure and lots of parking.

BILL PARSONS

www.remax-performance-bc.com

Zoned M-2

RICHMOND LAND INVESTMENT 3 ADJOINING PARCELS = 41 ACRES 2 STREETS FRONTAGE = 777 FEET ADJOINING ARE INDUSTRIAL + GOLF + ALR $7,980,000

INDUSTRIAL LEASE = $10 psf 2,555 sf NORTH RICHMOND 1,055 sf showroom + 1,500 sf warehouse

-Ă ĂŠ ĂŽ£ä££Ă‡ÂŁĂŠĂŠĂŠ$1,388,000

RICHARD PODGURSKI

RE/MAX Masters Realty

B.Elec. Cert. Marketing

7 7 8 -8 5 8 -9 0 2 5

Business and Commercial Consultant

mehranmoallem@gmail.com RE/MAX CITY COMMERCIAL DIVISION

B U S I N E S S Fast Food Restaurant Video Store/ Cell phone Dealer Donair shop Hair Studio Donair Shop Sign Shop Donair Shop Hair Studio Video Prod. & conv. Allegra Print & Imaging Oxford Learning Centre Auto Body Shop Car lot Lounge & Steak House Laptop Battery Online retailer Day & Knight Restaurant Denny’s Restaurant Glass Fabrication Business

Langley Coquitlam P. Moody N.Van. Pitt Meadows Vancouver East Port Coquitlam Coquitlam North Vancouver Surrey Langley North Vancouver Surrey Main, Vancouver Coquitlam UNDER CONTRACT Greater Van Greater Van Coquitlam

$49K $49K $55k $59k $59K $59K $68K $69,900 SOLD $79K $100K $129K $139K $149k $379K $499K $499K $695K $1.189Mil

Mission D/T Van. Coquitlam Port Coquitlam Downtown Van North Vancouver Surrey China Britania Beach

$350K $369k $549K $1.189Mil $1.295Mil SOLD $1.495Mil $2.9 Mil $3 Mil $4.200Mil

P R O P E R T Y Industrial Warehouse Art studio Strata commercial Cabinet Mftg., property 4 plex Multi family Industrial Warehouse/OfďŹ ce 1.5 acre Car lot Refrigerant Mfg. 38 Acre Hotel Site

DEVELOPMENT PROPERTIES, INCOME PROPERTIES, LAND, MOTELS AND GAS STATION

Please call

www.chernochan.com CALL OR EMAIL FOR A FULL INFO. SET

$639,000 LAND WITH OT REVENUE BUILDING STRATEGIC NORTH RICHMOND LOCATION. HOLD AND REDEVELOP INVESTMENT

UĂŠĂŠ Ă?ViÂ?Â?iÂ˜ĂŒĂŠÂœÂŤÂŤÂœĂ€ĂŒĂ•Â˜ÂˆĂŒĂžĂŠvÂœĂ€ĂŠvĂ•ĂŒĂ•Ă€iĂŠ `iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒ°ĂŠ­,iĂƒÂˆ`iÂ˜ĂŒÂˆ>Â?]ĂŠ ĂŒÂœĂœÂ˜Â…ÂœÂ“i]ĂŠĂƒiÂ˜ÂˆÂœĂ€ĂƒĂŠViÂ˜ĂŒĂ€i]ĂŠÂ“ÂœĂƒÂľĂ•iĂŠ ÂœĂ€ĂŠĂŒi“Â?iŽ°ĂŠ UĂŠĂŠ*Ă€iĂƒiÂ˜ĂŒÂ?ĂžĂŠĂ•Ăƒi`ĂŠvÂœĂ€ĂŠ`>ÞÊV>Ă€i°ĂŠ ÕÀÀiÂ˜ĂŒÂ?ÞÊ âœ˜i`ĂŠ*Ă•LÂ?ˆVĂŠ ĂƒĂƒi“LÂ?ÞÊ >Â?Â?ĂŠ£°ĂŠ UĂŠĂŠ Â?ÂœĂƒiĂŠĂŒÂœĂŠ Â?ÂœĂ›iĂ€`>Â?iĂŠ/ÂœĂœÂ˜ĂŠ iÂ˜ĂŒĂ€iĂŠ>˜`ĂŠ }Ă€i>ĂŒĂŠ1-ĂŠ ÂœĂ€`iÀÊ>VViĂƒĂƒ°ĂŠĂŠ UĂŠĂŠ ÂœĂ•Â?`ĂŠLiĂŠĂ€i‡âœ˜i`ĂŠĂŒÂœĂŠ>Â?Â?ÂœĂœĂŠĂƒÂˆÂ˜}Â?iĂŠ v>“ˆÂ?ÞÊ>˜`ĂŠVÂœ>VÂ…ĂŠÂ…ÂœĂ•ĂƒiĂŠ`iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒ°ĂŠ UĂŠĂŠ{]äääĂŠĂƒ¾°ĂŠvĂŒ°ĂŠLĂ•ÂˆÂ?`ˆ˜}ʇÊÂ?Âœ}ĂŠÂŤÂœĂƒĂŒĂ‰Li>“Ê VÂœÂ˜ĂƒĂŒĂ€Ă•VĂŒÂˆÂœÂ˜°ĂŠ ÂœĂŒĂŠĂŽĂŽ]ÓÇnĂŠĂƒ¾°ĂŠvĂŒ°

SPA - Well established, steady clientele and excellent revenue Owner will train and help with licensing. Most desirable location of Vancouver - S Granville St. Offered for $550,000

LORNE CHERNOCHAN 604-880-0550 (cell) lorne@chernochan.com

***************************************************************

Investment Opportunity Cloverdale, BC

I EVALUATE, PRICE, MARKET AND SELL!

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

PLASTIC MFG. 30 yrs. in business in Vancouver, long list of clientele and good repeat business. Owner retiring and very motivated. Offered for $600,000

YOUR BUSINESS, DEAD OR ALIVE! I have clients for it.

Huge Price Reduction! 52 ACRE MOUNTAIN ESTATE 1.5 HRS TO BANFF ACROSS FROM PANORAMA SKI RESORT. Two 2,000 SF luxury Log Chalets. Invest, hold or develop further. Reduced by $1 million to $2,495,000 Details on website. www.TerryYoungHomes.com HEALTH FOOD STORES Thriving, proďŹ table businesses in Vancouver and West Vancouver, providing all health products. Grossing $700K and $400K. Secure Investments - Growth potential. Call for more INFO.

www.BondedBusinessBrokers.com

Each office is independently owned and operated.

Lower Mainland A13

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

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

RICHMOND s 3TRIP -ALL NEAR ,ANSDOWNE $11 Million s )NDUSTRIAL BUILDING REZONE POTENTIAL SOLD $5 Million s )RONWOOD INDUSTRIAL SITE W INCOME $2.8 Million s $EVELOPMENT SITE &RANCIS 2AILWAY $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 HALCYON HOT SPRINGS VILLAGE & SPA NEW LISTING 9EAR ROUND OUTDOOR PLAYGROUND WITH SPECTACULAR FACILITIES 0ROlTABLE RESORT SPA BUSINESS WITH NATURAL HOT SPRINGS ACRES WITH M WATER FRONTAGE AND STRATA CHALETS "USINESS AND PROPERTY $15,900,000 CONSTRUCTION RELATED &RASER 6ALLEY 3PECIALIZED BUSINESS ER WITHIN CONSTRUCTION INDUSTRY FOR YEARS /VER M IN SALES R OFF UNDE %ASY TO OPERATE $850,000 TRUCK REPAIR BUSINESS .ORTHERN "# NEW LISTING )N BUSINESS FOR OVER YEARS SQ FT BAY TRUCK SERVICE FACILITY ....................................................... $2,700,000 inc inv KITCHENWARE RETAIL STORE ,OWER -AINLAND NEW LISTING 4HE LATEST COOKWARE BAKEWARE AND KITCHEN GADGETS FROM MAJOR INTERNATIONAL BRANDS SQ FT STORE IN HIGH TRAFlC mall. ............................................................. $390,000 inc inv AWARD WINNING MILLWORK BUSINESS (,OWER -AINLAND FFER -AJOR CLIENTS IN #ANADA AND 53! 2EVENUE IN EXCESS OF M DER O N U $2.0m inc equip VANCOUVER DINNER CRUISE BUSINESS REDUCED )N BUSINESS FOR OVER YEARS OPERATING TWO YACHTS FROM $OWNTOWN 6ANCOUVER .ETS $1.85m inc yachts UNIFORM DISTRIBUTOR ,OWER -AINLAND NEW LISTING /VER YEARS IN BUSINESS $ISTRIBUTOR OF CORPORATE AND HOSPITALITY UNIFORMS AND PROMOTIONAL PRODUCTS ........ $390,000 METAL FABRICATING COMPANY "URNABY 7ELL ESTABLISHED BUSINESS WITH STRONG EARNINGS HISTORY AND HEALTHY MARGINS $1.8m inc equip NIGHTCLUB BAR & GRILL +OOTENAYS NEW LISTING 4HE MOST SUCCESSFUL CLUB IN THE +OOTENAYS WITH AWARD WINNING LIGHTING SYSTEM /NE OF THE LARGEST LICENSED ESTABLISHMENTS IN "# WITH POPULAR RESTAURANT GRILL "USINESS AND PROPERTY ............................................ $1,750,000 HAIR & BEAUTY SALON ,OWER -AINLAND 6ERY SUCCESSFUL FULL SERVICE BEAUTY SALON IN TRENDY AREA 3ALES OVER STAFF .O RENTALS $258,000 + inv UNIQUE HOME IMPROVEMENT BUSINESS &RASER 6ALLEY -ANUFACTURER OF CUSTOM DESIGNED SUNROOMS AND PATIOS SOLD DIRECTLY TO COMMERCIAL AND RESIDENTIAL USERS $390,000 inc equip

ALF SANDERSON DELON CHEUNG 604-691-6646

604-691-6654

alf@naicommercial .ca

delon@naicommercial .ca

COQUITLAM WAREHOUSE

NEW WEST OFFICE/RETAIL

s &RASER 2IVER FRONTAGE s SF s

s UNITS SF EACH s 2IVER 6IEW 3KYTRAIN s PER UNIT

SURREY CITY CENTRE

BBY/NEW WEST/COQUITLAM

s SF BUILDING s /FlCE 2ETAIL s

s /FlCE 2ETAIL FOR LEASE s SF s 6ARIOUS ,OCATIONS

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

MUSCLE CAR BUSINESS + PROPERTY CLOVERDALE, BC 6ERY PROlTABLE !SKING ONLY 8 EARNINGS Business - $325,000 #AN BE PURCHASED WITH PROPERTY SF ON AC PARCEL Property - $2,100,000

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

SMALL BAY INDUSTRIAL UNITS s #ONVENIENT ,ANGLEY 3URREY LOCATIONS s 31 &4 s &RONT CORNER UNIT s 3HOWROOM AND WAREHOUSE s -EZZANINE ASKING $324,900 RETAIL / OFFICE UNITS HIGH TRAFFIC LANGLEY LOCATIONS 1. Sublease Opportunity s SQ FT (OME !CCESSORIES 3HOWROOM s #LOSE TO #OSTCO ASKING $11.50 NNN 2. 20238 FRASER HIGHWAY s # :ONING ALLOWS MOST RETAIL OR OFlCE USES s SQ FT .EW CONSTRUCTION s (IGH TRAFlC VISIBILITY ASKING $650,000 or $15.00 NNN to lease 3. JESKE CORPORATE CENTRE s SQ FT 4ROPHY !!! /FlCE SPACE s EXECUTIVE OFlCES OPEN WORK SPACE BOARDROOM RECEPTION AND LUNCHROOM s 4OP mOOR CORNER UNIT ASKING $35.00 NNN owner may consider selling 4. MEDICAL DENTAL SPACES s ,ANGLEY LOCATIONS TO CHOOSE FROM s SQ FT $ENTAL SPACE ASKING $16.00 NNN MEDICAL CLINIC – CLOSE TO HOSPITAL s EXAM ROOMS RECEPTION $R /FlCE AND STORAGE AREA s SQ FT ASKING $21.00 NNN INVESTMENT BUILDINGS &ULLY ,EASED 3INGLE 4ENANT "UILDING .ET )NCOME OF PER YEAR ASKING $3,600,000

TED WEIBELZAHL 604-514-6825 or 1-800-890-9855 tedw@naicommercial.ca BEAUTY BOUTIQUE & ACCESSORIES (Vancouver) 6ERY WELL KNOWN CELEBRITY BOUTIQUE SPECIALIZES IN MAKEUP SKINCARE FASHION AND UNIQUE SOUGHT AFTER BRANDS !LSO OFFERS EXTENSIVE BEAUTY SERVICES INCLUDING PROFESSIONAL MAKEUP APPLICATIONS ,OCATED IN TRENDY NEIGHBORHOOD VISITED BY (OLLYWOOD STARS NEW LISTING ...................................................................... $480,000 + inv FURNITURE AND CUSTOM BUILT ARTWORK & ACCESSORIES 6ANCOUVER #ANADIAN MADE UNIQUE AND UPSCALE HOME DÏCOR AND FURNISHINGS #ORNER LOCATION WITH PATIO AROUND AT VERY BUSY INTERSECTION 5NDERGROUND CUSTOMERS PARKING................... ................................................................Asking $280,000 + Inv. BLUEBERRY FARM & NURSERY (Abbotsford) 3ITUATED ON PRIME -ATSQUI mATS 4HIS WELL MAINTAINED FARM WITH NEW SQ FT HOUSE OFFERS MATURE "LUECROP AND $UKE 3ET UP FOR MA CHINE PICK #OMPLETE DRIP IRRIGATION SYSTEM ........................$1.98Mil

EQUIPMENT RENTALS Metro Vancouver s ,ONG ESTABLISHED s 6ERY 0ROlTABLE s &ULLY MANAGED s MIL ANNUAL SALES Assets $2.8mil EMPLOYMENT AGENCY Metro Vancouver s 4EMP 0ERM PLACEMENTS s %STABL YEARS s -ANAGEMENT IN PLACE s MIL ANNUAL SALES s 6ENDOR lNANCING AVAILABLE Assets $319,000 ICE CREAM FRANCHISE Vancouver s %NGLISH "AY LOCATION s 3TATE OF THE ART FACILITY s #LASSIC OLD FASHIONED HOMEMADE ICE CREAMS s ANNUAL SALES Shares $548,000 (New Price) DOLLAR STORE FRANCHISE &RASER 6ALLEY s 3INCE s (IGH EXPOSURE IN LARGE MALL s MIL ANNUAL SALES .................. Shares $358,000+Inv

Ted Stellakis 604-691-6692 stellakis@naicommercial.ca Travel Centre & Truck Stop, Merritt s (USKY /IL #ONV 3TORE 2ESTAURANT 'REYHOUND "US $EPOT s 'ROSS 3ALES s !SKING Auto Road Self Storage, Salmon Arm s 'ROSS 2EV .ET 0ROlT s !SKING 42 Suite Apartment Building, Kamloops s 'ROSS )NCOME #AP 2ATE 34 Suite Apartment Building, Kamloops s 'ROSS )NCOME ./) Cranbrook R.V. and Mini Storage s 'ROSS 2EVENUE .ET s !SKING Mobile Home Park, Kamloops s 'ROSS 2EV #AP 2ATE OF s !SKING Kamloops Largest Restaurant & Brew Pub s .ET 0ROlT OF YR s !SKING -ILLION

MICHAEL MARCKWORT 604-691-6638 michael@naicommercial.ca

COURT ORDERED SALES 397 Acre Development Site, Sechelt BC s :ONED #$ MIXED USE RESIDENTIAL COMMERCIAL RECREATIONAL s FEET OF WATERFRONT ON 0ORPOISE "AY $22,250,000 459.1 Acre Development Site, Cranbrook BC s :ONED #$ 5( 2 ALLOWING FOR LOW MEDIUM DENSITY RESIDENTIAL s 3URROUNDING 'ARY 0LAYER DESIGNED GOLF COURSE $22,300,000 3,070 sq. ft. Retail Commercial Development, Pemberton BC s 'AS BAR -AC$ONALD S ON SITE SOLD 165 Acre Development Site, Abbotsford BC s 3EVEN PARCELS TOTALING ACRES Price Reduced: $9,900,000

INDUSTRIAL & DEVELOPMENT SITES

EURO DELI (Coquiltam) 7ELL ESTABLISHED PROlTABLE DELICATESSEN WITH SMOKE HOUSE 'OOD LEASE ..............................................................Assets $156,000 plus Inv.

12,000 sq. ft. Strata Office/Warehouse, Richmond BC s :ONED ) ALLOWING FOR INDUSTRIAL RECREATIONAL COMMUNITY AND EDUCATIONAL USE UNDER CONTRACT 29.2 Acre Commercial/Industrial Development Site, Sechelt BC s :ONED #$ "USINESS 0ARK #OMPREHENSIVE $EVELOPMENT ALLOWING FOR VARIOUS COMMERCIAL LIGHT INDUSTRIAL USES $3,950,000 65 Acre Agricultural Resource Site, Sechelt BC • :ONED 22 2URAL :ONE ALLOWING FOR VARIOUS AGRICULTURAL GARDEN NURSERY SINGLE FAMILY AND RECREATIONAL USES $1,200,000 18.4 Waterfront Development Site, Sechelt BC s :ONED 2 ALLOWING FOR SINGLE FAMILY HOME OCCUPATION USES s !PPROXIMATELY FEET OF WATERFRONT $1,100,000

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

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

MOTEL PUB LIQUOR STORE (Vancouver Island) 2IVER FRONTAGE ROOM MOTEL OFlCE SEAT PUB SEAT RESTAURANT GAZEBO /N THE SIDE THERE IS BUSY LIQUOR STORE 4HIS HERITAGE STYLE MOTEL IS LOCATED HR FROM .ANAIMO OR 6ICTORIA 3UMMER ATTRACTS TOURISTS FOR CAMPING AND lSHING 0ERFECT FAMILY BUSINESS .................. NEW LISTING $2.9Mil SPA/SKIN CLINIC (Vancouver) 0ROMINENT $OWNTOWN (OTEL LOCATION LONG ESTABLISHED ..................................................... $150,000

Committed to Canada. Connected to the World.

A14

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

COVER As buyer’s market looms in Metro Vancouver, politics help keep new inventory low, prices rising

#FUUJOH UIF IPVTF

the first six months of 2011, 1,473 strata apartments or townhomes broke ground, up from 1,373 in the same period last year. At the same time, less than 300 new detached houses were started.

FRANK O’BRIEN / PETER MITHAM

#VZFS¤T NBSLFU MPPNT

sharp drop in Metro Vancouver housing sales in July and an apparent stall in rocketing price increases has shocked residential investors, but a top University of British Columbia (UBC) professor says local politics should help keep supply low and prices rising. Michael Goldberg, professor and dean emeritus at UBC’s Sauder School of Business, argues too-restrictive zoning and the NIMBY factor mean not enough new homes are being built, especially around rapid-transit hubs. Goldberg says the solution for bringing down the cost of development and housing in Vancouver lies in reduced planning regulation and allowing property developers more leeway to construct taller buildings faster. “It can take six years to get rezoning for a highrise tower in Vancouver,� said Goldberg. Lifting restrictions and allowing developers to build higher-density projects would result in an oversupply of homes and, subsequently, lower prices, he said. “We should be tapping the greed factor [of developers].� Goldberg said municipalities and residents voice support for higher density but, when projects are planned, politicians often cave in to local “not-in-my-backyard� protests and shelve the projects. The professor says Vancouver council should be pushing for highrise condominium towers along major commercial strips, such as Dunbar and West 41st in Vancouver, and next to Skytrain and Canada Line stations. Vancouver council voted May 10 to increase density in the Cambie corridor to 12 storeys, but Goldberg said much higher buildings are needed both there and around the Oakridge Centre and Marine Drive transit stations. “It’s ludicrous,� he said, noting that the

"

Re-sales of homes across Metro Vancouver had been slowly declining for four straight months, but July sales slumped 21 per cent from a month earlier to around 2,500 units. Homes for sale, meanwhile, shot up 23 per cent from last summer as buyers try to cash in on average prices topping $630,000. As of July, the typical price for a detached house in Greater Vancouver was $898,886. It soared over $2 million on Vancouver’s west side and to more than $1 million in Richmond and most of the North Shore. “The number of homes listed for sale in the region has increased each month since the start of the year,� said Rosario Setticasi, president of the Real Estate Board of Greater Vancouver. As of this summer, listings were at 15,200, an indication that buyers are gaining the upper hand. In the Fraser Valley, July sales were down 17 per cent from June, and a 24 per cent spike in listings meant that more than 10,000 homes are listed for sale but only 1,300 are selling Michael Goldberg, professor and dean emeritus with the Sauder School of Business per month. Fraser Valley Real Estate Board at UBC: ease regulations to create more higher-density, lower-cost housing in Metro president Sukh Sidhu calls it a “buyer’s marVancouver. ket,� noting it now takes an average of 65 days Commercial Skytrain Station, a major transit dropped across the Metro region, according to sell an Abbotsford condo, the least expensive hub, has no adjacent high-density housing and to Goldberg. He argues that market condition home in the Fraser Valley. only a small food-anchored shopping mall. should dictate the height of buildings, not planHe added that the Cambie Street/Broadway ning regulations. 4QFDVMBUJWF CVJMEFST Avenue Canada Line Station has attracted only “Seventy per cent of the residential in Speculative residential developers remain bulla new retail complex. “None of the transit sta- Vancouver are single-family, detached houses,� ish on the new-condo market, however, accordtions are linked underground to residential or Goldberg said, “but the trend is toward smaller ing to an August survey released by market retail buildings,� he said. homes,� due to empty nesters and young people research firm MPC Intelligence Inc. MPC is The City of Vancouvershould also abandon who want to live in urban centres. waving red flags, though, warning of a glut in regulations that protect “views of the mounJudging from July stats, the trend toward some markets if pre-sales don’t accelerate. tains,� said Goldberg. He considers the moun- higher density and lower prices may have MPC’s Lower Mainland survey showed tains to be high enough that buildings are not already begun. that during the first half of 2011 a total of 87 going to interfere sufficiently with the views to According to Canada Mortgage and multi-family projects or project phases started bother with a regulation. Housing Corp., multiple-family housing starts marketing in Metro Vancouver. These projects Building-height limits, too, should be are up in Vancouver and across the region. In added a total of 6,410 units to the market. By Photo: Richard Lam

WESTERN INVESTOR

-PXFS .BJOMBOE

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• Chicago Landmark 300,000 GBA • Cermak Creative Industries District Pioneer • MICD25 grant recipient for district • Major Film and Television Location • 447 tenants in place • High Yield Investment Creative Placemaking, It Starts With Space!

BUILDING AT UBC

Michelle Watson 480-326-9520

1521 WEST 4TH AVE

michelle.watson@marcusmillichap.com

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>ĂƒÂ…ĂŠLĂ•ĂƒÂˆÂ˜iĂƒĂƒĂŠÂˆÂ˜VÂ?Ă•`i`ĂŠ$2,619,000

Luxury 4-Star Hotel in the best location !

FOR SALE

Call Larry Traverence

8-9% NET RETURN

Gorgeous hotel units, “strata� not time share. In one of the top hotels in the city, the Marriott Pinnacle Hotel. Located in the best and priciest city location of Coal Harbour, with water and mountain views, steps to new convention centre, Robson St. & Stanley Park. A very healthy return of 8-9% on this carefree and headache free investment by sharing in the total revenue of this destination four star hotel. Multiple units at $208,000 & $198,000

Townhome Development Site Morgan Creek Heights Excellent location King George & 24th Ave. Build townhomes or hold for future development with neighbours. Good spacious rental home plus large garage shop and sheds on property now. Build between 22-25 units. Asking $1,550,000

Tony Alves 604 889-7008 Sutton Centre Realty

604-787-7654

Kris Pope 604-318-5226

ĂŽnääĂŠ 7iĂƒLĂ€ÂœÂœÂŽĂŠ >Â?Â?ĂŠ ĂŠ ÂŤĂ€ÂœĂ›Âˆ`iĂƒĂŠ >Â˜ĂŠ iĂ?ViÂ?Â?iÂ˜ĂŒĂŠ iÂ˜Ă›ÂˆĂ€ÂœÂ˜Â“iÂ˜ĂŒĂŠ ĂŒÂ…>ĂŒĂŠ ĂœÂˆÂ?Â?ĂŠ ĂƒĂ•ÂŤÂŤÂœĂ€ĂŒĂŠ >˜`ĂŠ i˜…>˜ViĂŠ ĂŒÂ…iĂŠ ÂˆÂ˜ĂŒiÂ?Â?iVĂŒĂ•>Â?ĂŠ >˜`ĂŠ ĂƒÂœVˆ>Â?ĂŠ `iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒĂŠ}Âœ>Â?ĂƒĂŠÂœvĂŠVÂœÂ“ÂŤ>˜ˆiĂƒĂŠÂˆÂ˜Ă›ÂœÂ?Ă›i`ĂŠ ÂˆÂ˜ĂŠ ,E °ĂŠ >LÂœĂ€>ĂŒÂœĂ€ÂˆiĂƒ]ĂŠ ÂœvwViĂƒ]ĂŠ ĂŒi>V…ˆ˜}]ĂŠ ĂŒĂ€>ˆ˜ˆ˜}]ĂŠ>˜`ĂŠVœ˜viĂ€i˜ViĂŠv>VˆÂ?ÂˆĂŒÂˆiĂƒ]ĂŠÂˆÂ˜ĂŠĂƒĂ•ÂŤÂŤÂœĂ€ĂŒĂŠ ÂœvĂŠ Ă€iĂƒi>Ă€VÂ…ĂŠ >˜`ĂŠ `iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒĂŠ ÂˆÂ˜ĂŠ >ĂŠ Â˜Ă•Â“LiĂ€ĂŠÂœvĂŠÂŽiÞÊ>Ă€i>Ăƒ°ĂŠOFFERS Call Larry 604-787-7654

FOR SALE 1028 HAMILTON STREET {ĂŠĂƒĂŒÂœĂ€iÞʍÂ?Ă•ĂƒĂŠL>Ăƒi“iÂ˜ĂŒĂŠĂŠUĂŠĂŠĂŽä]äääĂŠĂƒÂľĂŠvĂŒ Asking $17,500,000

Larry or Kris 604-689-8226

FOR SALE 8828 HEATHER

ÂœĂ€Â˜iÀÊ-ĂŒĂ€>ĂŒ>ĂŠĂ•Â˜ÂˆĂŒĂŠĂŠUĂŠĂŠ ÂŤÂŤĂ€ÂœĂ?ĂŠx]äääĂŠĂƒÂľĂŠvĂŒĂŠĂŠUĂŠĂŠ ÕÀÀiÂ˜ĂŒÂ?ÞÊ>ĂŠVÂœÂ“Â“Ă•Â˜>Â?ĂŠÂŽÂˆĂŒVÂ…i˜ Asking $1,250,000ĂŠĂœÂˆĂŒÂ…ĂŠÂ?i>ĂƒiÂ…ÂœÂ?`ĂƒĂŠ>˜`ĂŠiÂľĂ•ÂˆÂŤÂ“iÂ˜ĂŒĂŠ>Ă›>ˆÂ?>LÂ?i

Larry Traverence 604-787-7654

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

A15

the end of June, 57 per cent of these units were reported sold. “Vancouver developers are sensing that the market is on the upswing. Total marketming starts are up by about 18 per cent from the second half of 2010,� MPC reported. Total condo apartment and townhome sales in new projects in 2011 are expected to rise by about 10 per cent from 2010 and a whopping 73 per cent higher than in 2009, MPC forecasts. Is the new-condo market on a roll again? , “We believe that the gains made over the past 12 to 18 months will be temporary. Recent improvement in new-condo sales have benefitmted from the release of pent-up demand from the 2008-09 period. Further gains in sales will depend on household growth in Metro Vancouver. [But] the latest net migration figures show growth is slowing,� warned MPC. According to MPC, the real threat to a sustained recovery of the new-condo market will be an oversupply of new product, especially in areas of the Fraser Valley. “We expect a push of new product in the fall of 2011 as developers look to capitalize on current market conditions,� MPC stated. The hottest new-condo market, according to MPC, is East Vancouver. “Perhaps the best opportunities for new low rise over the next 12 months; sales could increase by 35 per cent to 40 per cent if new product is available. Even with the average price-per-square foot at $535, prices could increase by 6 per cent.� The challenging markets for strata developers include North Surrey, South Surrey and Langley, all of which are facing a possible oversupply of new condos.

"TJBO GBDUPS

With a surprising 44 per cent drop in immigration to B.C. during the first quarter of this year, the Asian factor is becoming a hotter topic tsince many developers are aiming product precisely at this sector. Asia has a fascination for Vancouver. Decades of migration and the influx of Hong Kong buyers during the 1980s keep the city looking west across the Pacific. The latest wave is driven by Canada’s designation by China as an approved destination for travellers and Beijing’s imposition of

Photo: Brentwood Mall

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

Highrise condo towers crowd the Brentwood Skytrain station.

restrictions on domestic investment following China’s unrivalled economic boom. “There are certainly more Chinese buyers today than there were two years ago,� said Daryl Simpson, vice-president, sales and marketing, with Bosa Properties Inc. “They’re looking for a change of place, or a second or third residence around the world where they feel comfortable, safe and secure.� The influx is taking Chinese buyers well beyond the neighbourhoods they’ve traditionally scouted for properties, contributing to a perception that buyers from Mainland China are dominating the market.

#VML CVZ NZUI

“They are looking further afield than they traditionally looked. They’re looking beyond Richmond, the West Side and Metrotown,� Simpson said. “You’re seeing that in North Vancouver, you’re seeing it in Coquitlam, you’re seeing it in White Rock.�

Viceroy, a 170-unit project Bosa launched in New Westminster this past May, had sold 82 homes by the end of July. Of these, about half sold to Chinese buyers. “Chinese buyers in uptown New Westminster? That’s unheard of,� Simpson said with amazement. He cautioned against painting them all with the same brush, however. “Chinese buyers don’t all have this homogenous motivation. They’re just like you and me,� Simpson said. “When people hear ‘Chinese investors’ they think all Chinese investors are buying with the same motivation. That they’re all buying it to either flip it, or they’re all buying it to rent it out or they’re all buying it to sit empty for three years until they move here, or they’re buying it for a child that’s going to go to UBC. [But] they’re buying it for all those reasons and others.� The perspective is backed up by some

common measures of investor activity in Vancouver. Statistics from BC Hydro regarding power consumption below the minimum threshold established for occupied apartments have typically pegged vacant downtown condos at about 8 per cent of the total stock. This year, BC Hydro numbers pegged the proportion of vacant units city-wide at 2.4 per cent of low-rise units and 3.9 per cent of highrise apartments. Of course, many foreign-owned apartments might be rented out, so a lack of power consumption isn’t the best measure of foreign ownership. But even then, speaking to the Urban Development Institute in May 2011, condo marketer Bob Rennie observed that for the Lower Mainland as a whole, 2,500 condos are foreign-owned (or approximately 1.2 per cent) based on where assessment notices are sent. And foreign buyers of single-family homes are equally few, at just 607 (or 0.15 per cent of the regional total). Another measure comes from MAC Marketing Solutions, which issued a report in June noting that of 500 buyers surveyed in the first five months of this year, just three listed an address in China as their primary residence.

'PMMPX UIF NPOFZ

But Jeff Hancock of MPC Intelligence said that even if this is the case, Chinese money is what’s driving sales and developers know it. “You start asking [developers] where their deposit cheques are coming from, and you start seeing a huge proportion of their deposit cheques are coming straight from China,� Hancock said. He says no one measure will effectively track buyer origins, but it’s clear that offshore buyers are an important component of the Vancouver – and British Columbia – market. “Make no mistake,� Hancock said of offshore buyers, “they are driving the new-home market.� Simpson agrees: “Developers now are looking at immigration statistics as often as we’re looking at mortgage rates,� he said. “For a developer in Vancouver not to be in tune with what’s happening with Asian immigration is foolish.�◆

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A16 Lower Mainland

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

> C 9 J H I G > 6 A & 8 D B B : G 8 > 6 A D E E D G I J C > I > : H ¸;DG H6A:¹ OR ¸;DG A:6H:¹ IN 677DIH;DG9 INDUSTRIAL LAND INVESTMENT/DEVELOPMENT OPPORTUNITES MACLURE INDUSTRIAL AREA 2.3 Acres zoned i-1, serviced, pre-loaded and it has a lot of frontage as well. Ideal for self-storage, warehousing or subdivision into two or more parcels priced to sell at $2.1 Million CLEARBROOK INDUSTRIAL AREA Parcel sizes are: 5 acres (2). 8.18 Acres, 15 acres and 27 acres. Some may be combined to make one contiguous parcel of 45 acres. All are alr exempt and are in various stages of re-zoning to IB-1 and I-2 industrial use. Road frontages include Clearbrook, Marshall & Foy. The 15 acres on Clearbrook Rd. Now have 3rd reading for IB-1 & I-2. Call for info packages. M T. L E H M A N I N D U S T R I A L A R E A For sale or lease - bare land from 2 acres to 8 acres. Zoned I-5 & I-2 industrial. Land is zoned, serviced & flat. Call for info package 604.217.0455

COMMERCIAL SPACE FOR LEASE High traffic locations on South Fraserway and Garden Street ranging in size from 1,200 s.f. to nearly 3,000 s.f. All are C-4 commercial zoned. Two are vacant at present. Ideal for mixed use retail requiring high exposure, busy street locations. Two are end caps. All are well priced. Please e-mail or call me for info.

LAND DEVELOPMENT Here is a new subdivision in Abbotsford, Eagle Estates, that has received substantial completion May 12, 2011. Most lots have great views of Mt. Cheam, Golden Ears or the North Shore Mountains. Fully serviced, with builder terms available. 18 of the 57 lots offered are already sold or are under contract. Lots may be purchased individually or as a group. This subdivision is located in Abbotsfords’ premiere location on Eagle Mountain- the host in past years to the “STREET OF DREAMS.” For full info package on this exciting opportunity just call or e-mail me

AIRPORT NORTH BUSINESS PARK

Commercial Medallion Club Homelife Glenayre Realty Co. Ltd.

WAREHOUSING FOR SALE STRATA WAREHOUSING UNITS from 1616 square feet to over 5,000 s.f. or may be combined for a contiguous area of +/10,000 square feet. All units have 100 A, 208V, 3 phase power, hi-bay lighting, radiant heat, 2 piece H/C washroom and may be purchased with as low as 10% down payment or on a lease to own basis. Ideal location for a small business or for storage or manufacturing. The zoning on these units is I-1. Maclure Business Park location. NEW BUILDING at Airport North Business Park. Zoned I-2 with approx. 32,000 square feet of which approx. 7,000 is leased. Great access to Highway #1 and the airport. Building must be purchased as a whole, not individual units. Priced to sell at $4.8 Million. Are you looking for WAREHOUSE SPACE that is fully improved? Then this one is for you. 2,167 s.f. footprint with fully fi nished and permitted mezzanine. 2 power panels, 50A welder plug, 40A stove plug, large H/W tank, power bay door, 3 piece bath and it’s very centrally located close to the airport. Asking $499,500.00

FOR LEASE I have over 40 individual units for lease so I know one of these will suit your needs. NEW WAREHOUSING UNITS in Maclure Business Park and Airport North Business Park offered for lease. Competitive rates and outstanding locations for business and highway access. 24’ ceilings, good power and grade loading. VARIOUS SIZES AND LOCATIONS IN DIFFERENT BUILDINGS. New listing at Airport North with over 5,000 s.f. main area plus 2,000 s.f. mezzanine. Ideal for automotive parts, wholesale furniture sles, various building supplies or any industrial use that can take advantage of a fully fi nished unit with offices, lunchroom, 2 washrooms and grade loading. Located ideally facing busy progressive way in Abbotsford.

EAGLE ESTATES

Ken Neufeld Business: 604.217.0455 www.abbotsfordicirealestate.com kenneufeld@telus.net

MACLURE BUSINESS PARK

A17

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

FEATURE Experts say the best rental investments are not in the drum-tight, high-priced city of Vancouver

FRANK O’BRIEN WESTERN INVESTOR

aw-dropping prices for Vancouver apartment buildings are finally having an effect on investors who are skirting the city to snap up properties at a near record level in suburban communities, according to Mark Goodman of HQ Realty in Vancouver, a specialist in the apartment market. The rental vacancy rate in Metro Vancouver remains in the 2 per cent range and can be even tighter in some popular neighbourhoods. The average price now for an older, walkup apartment building in Kitsilano – where the typical rental building is 40 to 50 years old – is $294,200 per suite, up 19 per cent from a year ago. In South Granville, prices are up 10 per cent to $219,844 and the West End has seen prices rise to nearly $240,000 in the last 12 months. Even in East Vancouver, the average old rental building is demanding a record high of $161,440 per apartment. As a result, Goodman notes, the total number of rental suites sold in the City of Vancouver in the first six months of this year dropped 17 per cent compared with the first half of 2010, to 504 units in 24 buildings. It is the suburbs that are now the hot spot, posting an overall increase in unit sales of 178 per cent in the first half, with 28 buildings changing hands. The reason is both price and capitalization rates. The average suburban apartment building sells for less than $150,000 and offers better returns than in the city. “Many areas beyond

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Vancouver offer superior yields, larger site sizes and, depending on the building’s condition, lower vacancy rates,� Goodman said. The strong demand for apartment buildings also relates to the lowest-cost financing in the commercial real estate sector. Canada Mortgage and Housing Corp. offers loan insurance that reduces the effective mortgage rate to 3.1 per cent for five-year loans and 3.9 per cent for 10-year terms, compared with conventional commercial loans that are from 100 to 150 basis points higher. Goodman points to New Westminster as one of the promising suburban markets. Apartment building sales there have doubled over the past year, and per-apartment prices have risen 14 per cent to $119,927. In North Vancouver, apartment-building sales this year are up 24 per cent from a year ago, and have risen 19 per cent in Coquitlam and 17 per cent in Burnaby. Total dollar volume through the first six months in the suburbs was up 207 per cent to $193.2 million, while volumes fell 18 per cent in Vancouver to $109 million.

Photo: Richard Lam

"UUFOUJPO MBOEMPSET

Multi-family specialists David and Mark Goodman of HQ Realty: jaw-dropping Vancouver prices are moving apartment-building investors toward Metro Vancouver suburbs, where sales soared 178 per cent in the first half of this year.

At our request, Jurock picked his five best condo-rental markets for both potential positive cash flow and equity growth. The picks are based on an investor with a 25 per cent down payment and a 3.25 per cent, five-year term mortgage.

&ENPOUPO Why? Best-priced real estate of any major city in Canada. The city has oil company head offices, high incomes and the average singlefamily house price is the lowest among major Canadian cities at $387,000. Condo prices are as low as $90,000 (some six5PQ GJWF NBSLFUT plexes as low as $75,000 a suite). Edmonton is Ozzie Jurock, a Vancouver-based investor probably the easiest city to get cash flow, which and real estate analyst, said the next year may means positive rental income versus price paid. be a good time for would-be landlords to buy in selected markets in B.C. and Alberta, but ,BNMPPQT there is no hurry. “We have seen the real estate Why? It has the second-best ski resort in B.C., markets – other than the Lower Mainland great golf courses and a strong employment – already in a fairly sharp downdraft for the base. last six months, particularly recreational real The rental vacancy rate is at 2.6 per cent and estate. Do not buy right away. There will be there is a stable tenant base. Many houses are great opportunities ahead as markets recover. for sale at $280,000 to $350,000; condos are And recover they will.� priced from $99,000.

1PSU .PPEZ Why? It is 30 minutes from Vancouver with a location on Burrard Inlet. Vacancy rate is as low as 2.5 per cent. Buyer can find two-bedroom, two-bath condos for as low as $200,000 that could see positive cash at $1,200 rent.

"CCPUTGPSE Why? The international airport expansion is underway; a new University of the Fraser Valley has 100 more professors recruited; and a giant regional hospital and cancer centre will soon open. Vacancy rate is only 2.5 per cent in rental condos; rents are relatively high. Single-family homes’ average price is $456,000, with new condos as low as $150,000.

$BMHBSZ Why? Employment in 2011 is forecast to rise 2.1 per cent. The unemployment rate is forecast to decline to 5.4 per cent in 2012. In 2011 total net migration is projected to rise 11 per cent and another 14 per cent in 2012 to 14,000 migrants. Vacancy rate is 4.5 per cent.â—†

-PXFS .BJOMBOE Sutton Premier Realty

YOUNG YOON, B.A. AND TEAM CEL: 604-808-5024 EMAIL: youngyoon62@hotmail.com

Business Opportunity

Mushroom Farm For Sale

Your Oriental Connection ! COMMERCIAL BUILDING HORSESHOE BAY, WEST VANCOUVER 13 commercial strata 2 APT. Asking $5.998 Mil. Land - .63 acres. Leasable area 15,935.37 sq. ft. resident 1,995 sq. ft. and 2,884 sq. ft. APT. Great tenant mix consists of Subway, C-Lovers, Pizza, Chinese restaurant, hair salon, bakery, walk-in clinic/pharmacy, accounting office, sushi etc. Potential net income of $250,000 / yr.

PORT KELLS 2 2ACRE PARCEL BOTH PROPOSED 15-25/ACRE MED/ HIGH DENSITY. 1.69 mil 17006 96 Ave bare land MLS f1029082 1.49 mil 17072 96th Ave 2400sq hse w/large ware house MLS f1029083

,AND s "UILDINGS s %QUIPMENT s "USINESS

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

RICHARD KENT WOLSTENCROFT

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

1.59M

FOR LEASE OR SALE

1.2 Acre. 24th Ave., Granview Heights. NCP 4 - 15 UPA near Walmart.

Great Location on Kingsway, Vancouver

SOUTH

SURREY

$538,800 SURREY WHALLY HOUSE 1 Owner. 3bdrm + den, plus 3 1bdrm suite potential gross $3000+ or owner occupy 3bdrm with S excellent OLD mortgage helper 10660 142nd St. Close to SFU Surrey Campus.

SUCCESSFUL BAKERY COFFEE SHOP

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

Includes:

Downtown with excellent income New Price $359,000 Over $400 mil sold over 12 years. FVREB Commercial member Medallion 2006,2007, & 2008 Sutton Masters Awards Retail or income properties, motels, RV park WANTED ( out of town OK ) HAVE BUYERS

WWW.YOUNGYOON.CA

Leasing:

1,000-3,000 sq. ft For Sale:

$4,700,000 s %XCELLENT VALUE s )DEAL RETAIL OFl CE LOCATION s 3POTLESS BUILDING WITH ELEVATOR

JOE SACCO

YVONNE CONNOR

778-889-2424 778-997-7096 SUTTON CENTRE REALTY

A18 Lower Mainland FOR SALE 11680 SF BUILDING ON

21,961 SF

PROPERTY

INDUSTRIAL PROPERTY

Delta BC - 11955 95A Ave Automotive, Retail, Restaurant, Office and Caretakers Suite I-1 Zoning

Alex Yuen 604-338-1800 Alex Yuen PREC Macdonald Realty Ltd.

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

;DG H6A: ;:9 <DK I:C6CI 9;D FOR SALE

5,240 sq. ft. 0.35 Acre Free Standing Concrete Block Good Van Isl. Location

PORT COQUITLAM 4 LOTS APPROVED FOR SUBDIVISON

$1,395,000

Asking: ,).!%%% ,#+ 86E '*% '-,"''%%

LANGLEY

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

8DJGI:HN ID 7GD@:GH

Private F O R S A L E EAGLE ISLAND

Exciting 46 acre island Cottage, dock and approved 6 ocean lots subdivision with drilled wells etc

Beautiful 32 acre island Home, cottage, docks and a landing strip for helo and small plane Offered for sale $4.6 Mil

$5.6 Mil

UÊQUESNELÊ£°ÇÊ VÀi]ÊÓÊ >Ì > Ã]Ê $144,500Ê ]Ê$2.1 M]Ê£ä]äääÊÃvÊÊ ÊÌ Ê>``° UÊPRINCE GEORGEÆÊ££nÊ>VÀi]{Ê Ê iÌÀiÃÊ }À>Ûi ]Ê­>LÕÌÃÊ> À« ÀÌ®Ê$4,250,000 UÊGRAND PRAIRIEÆÊ Ýi`Ê"É,ÊÊ $140,000Ê ]Ê ¯ÊV>«Ê UÊKAMLOOPS;ÊÈÊÕ Ì]Ê $95,000Ê«iÀÊÕ Ì UÊPRINCE GEORGEÆÊÓx£ÊÕ ÌÃÊ]Ê £ÎÊ>VÀi]Ê$12,500,000

Islands

FOX ISLAND

UÊKELOWNAÊÈ{ÊÕ ÌÊ ` ÉÀiÌ> °ÊÊ

ÀiÊ>Ài>°Ê¼LÕ `ÊÌ ÊÃÕ Ì½Ê$11,750,000

FLEETWOOD

4 LARGE LOT SUBDIVISION

$1,599,000

MAPLE RIDGE

16 ACRES + LARGE HOME

$2,100,000

Please visit our website or call for more details.

GREAT PERSONAL INVESTMENT OR GROUP PURCHASE

monarkinvestments.ca

View BCPRIVATEISLANDS.COM

604-592-7250

WARK REALTY INC. 604.946.8710

Financing Available. Potential Trades.

UÊPRINCE GEORGEÆÊÊ ÎÊÃi«Ê>«>ÀÌ i ÌÃÊ£Ó £ÈÊÕ ÌÃÊ UÊSUNCOR DISP°ÊÊ ÓÊà ÌiÃÊ£Î]äääÊÃvÊ> `Ê£{]äääÊÃvÊ UÊMCDONALDS DISP°ÊÊ ÓÊà ÌiÃÊÎä]äääÊÃvÊ> `ÊÓ ]xääÊÃv° UÊBURNABY;Ê vwViÊLÕ ` }ÊÊ n]äääÊÃvÊ$900,000 UÊCASTLEGARÆÊ > `]ÊLÕ ` }]ÊÊ LÕÃÊ­ ÌiÊV ÕL®Ê$1.75 MÊ

PETER SEED 604-691-6608 peter@naicommercial.ca

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

Multi-use Light Industrial Property

1.3 acres with 16 storage bays, office, 21’x41’ shop/bay with 3 phase power. Fully fenced, easy highway access, good exposure, room for expansion, just minutes south of Powell River. $339,000

Ideal Commercial Building Site

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

In-Town

Oceanfront

Property

GLENN YAMADA PERSONAL REAL ESTATE CORPORATION

Established investment company seeking to acquire properties in major BC and Alberta markets. WE BUY:

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

- Strata titled multi-family and commercial buildings

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

- Bulk condominium units including "fractured stratas"

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

- Office and light industrial

Magnificent Waterfront Acreage Incredible Location! 132 acres just past Ideal Agri-Business Opportunity

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

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

- Vacant buildings - Unsold developer inventory - Multi-family and commercial foreclosures - Assets with deferred maintenance Quick, straight forward closing.

on main street, ready to go as a restaurant on main floor plus unfinished lower level & detached building with long-term tenant; paved parking lot; fronts 2 streets. $399,900

Contact: Joelle Wendt, CFA Upcountry Properties Group

bright, well-organized floor plan in 6000 sqft lease space. Great exposure in a high traffic area. Good mix of surrounding businesses in this shopping/service complex. $179,900

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

Your Dollar Store with More Clean,

CELL: 604-240-2749 EMAIL:

g-yamada@shaw.ca

COMMERCIAL AND RESIDENTIAL REAL ESTATE SINCE 1989

BUSINESSES FOR SALE GOURMET MEAT SHOP $229K UÊÊ ÃÌ>L à i`Ê£ÓÊÞi>ÀðÊ-Õ«iÀÊÌÕÀ Ê iÞÊLÕà iÃà UÊ Ài>ÌiÀÊ6> V ÕÛiÀÊ>Ài> Ê}Ài>ÌÊ V>Ì Ê UÊ6iÀÞÊ ÌÌ iÊV «iÌ Ì ÊÉÊ v Ê* }°Ê>Û> >L i UÊ-> iÃÊfÈää ÊÉÊ iÌÊÌ Ê Ü iÀÊf££x UÊ Ûi Ì ÀÞÊ ÌÊ V Õ`i`Ê­fÓä ÊÌ ÊfÓx ® GREEK MEDITERRANEAN RESTAURANT $400K UÊ-> iÃÊf£ ÊÉÊÎÊÞi>ÀÃÊÉÊ }ÊEÊ/> i "ÕÌ UÊ Ài>ÌiÀÊ6> V ÕÛiÀÊÉÊ ÎÊÃi>ÌÃÊÉÊ µ°Ê Vi Vi UÊ iÌÊfÓxä ÊÉÊÜ Ê Ê>ÌÊÀi> ÊiÃÌ>ÌiÊÌÀ>`iÊ NEW!! VETERINARY MEDICAL / SURGICAL INSTRUMENT SUPPLIER $350K UÊ ÃÌ°£ÓÊÞi>ÀÃÊÉÊà `ÊV i ÌÊL>ÃiÊÉÊ« ÕÃÊ Ûi Ì ÀÞ UÊ LÃi ÌiiÊ Ü iÀÊÉÊÓÊÃÌ>vvÊÉÊ ÜÊ ÛiÀ i>` UÊ7iLÊà Ìi]Ê «> ÞÊ À> `Ê ÃÌÀÕ i Ìà UÊ{Ê9i>ÀÊ ÛiÀ>}iÊ ` ÕÃÌi`Ê iÌÊf£ÓÓ ÉÞi>À UÊ ÝVi i ÌÊÕ«Ã `iÊ« Ìi Ì > ÊÉÊ V iÊ `ÕÃÌÀÞÊ NEW!! CURVES FITNESS CENTER $39K UÊ Ài>ÌiÀÊ6> V ÕÛiÀÊ>Ài>ÊÉÊ ÃÌ°Ê£äÊÞi>ÀÃÊ UÊ LÃi ÌiiÊ Ü iÀÊÉÊ iÌÊfÎx ÊÌ Ê Ü iÀÊ «iÀ>Ì À UÊ `ÊÕ«Ã `iÊ« Ìi Ì > Ê COMING SOON!! HAIR SALON & SPA UÊ ÃÌ°ÊÎÊÞi>ÀðÊ/À Ì iÃÊ V>Ì Ê}Ài>ÌÊ i>Ãi UÊ µÕ «°ÊEÊ «À Ûi i ÌÃÊ Ê ÛiÀÊfÎää UÊ-> iÃÊfÓä Ê Ì ÊÉÊ iÌÊÌ Ê"Ü iÀÊÉÊfÇ Ê³³ UÊÊÊ-i iÀÊ Ü ÃÊ{ÊÃ> ÃÊEÊ>Ê > ÀÊ`ÀiÃà }ÊÃV Ê Ì Ê ÕV ÊÌ Ê > ` i NEW!! MEDITERRANEAN PITA/PIZZA $69K UÊ ÃÌ°ÊÎÊÞi>ÀÃÊÉÊ iÜÊ7iÃÌÊÉÊ} `ÊiÝ« ÃÕÀiÊ UÊ µÕ «°ÊEÊ «À Ûi i ÌÃÊ Ê ÛiÀÊf£Óx UÊ ii`ÃÊ iÜÊÛi ÕiÊi°}°Ê Àii Êi>ÌiÀÞÉÌ> i ÕÌ UÊ µÕ ÀÊ Vi ViÊÉÊ >`ÃÊ vÊ« Ìi Ì >

LAND, BUILDING & BUSINESS NEW!! ENGRAVING BUSINESS $339K BUILDING: 2,800 SF / 5% CAP $550K UÊ ÃÌ°Ê ÛiÀÊÓäÊÞÀðÊÉÊiÝVi i ÌÊ i ÌÊ >Ãi UÊÊ ÕÃÌ Ê >ÃiÀÊEÊÀ Ì>ÀÞÊi }À>Û }Ã]ÊÌÀ « iÃ]ÊÊ « >µÕiÃ]Ê} >ÃÃÊEÊVÀÞÃÌ> UÊÓÊÞi>ÀÊ>ÛiÀ>}iÊ iÌÊ£ÓÓ ÉÞi>ÀÊ UÊ Õ ` }\Ê£ÓÊÞÀÃÊÉÊ À iÀÊÉÊÕ ÌÊÉÊiÝ« ÃÕÀi U - ÜÀ ÊÉÊÜ>Ài ÕÃiÊÉÊ"vwViÊÊ UÊ Ài>ÌÊÕ«Ã `iÊÉÊ"Ü iÀÊÀiÌ À }ÊÉÊ ViÊ `ÕÃÌÀÞ

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

A19

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

Pre-sale assignments – once a quick road to riches – now mean higher down payments and greater risk

#VZJOH QSF TBMFT nly a few years ago residential pre-sale assignments were a licence to print money. As B.C.’s real estate market boomed, thousands of buyers signed condo pre-sale contracts – not because they intended to move into the suites or rent them out – but because they wanted to “flip� the contracts for a profit. Some condos were bought and sold two or three times before construction was even complete. WESLEY In the commercial realm, business owners may opt for an assignment if they change their corporate identity or if they sublease unused space to another business. If all goes well, and the rent keeps getting paid, things go smoothly. However, given that most commercial landlords will experience a tenant dispute and that real estate law is more complex than most people realize, that’s a big “if.�

and the vendor agrees to it – the assignor remains exposed. If the assignee does not complete the purchase, the assignor can be sued for the damages suffered by the vendor. In a declining market, these damages can be significant. Prior to the market decline these risks were easily ignored. The market continued to go up and, if a purchaser failed to close, a MCMILLAN developer would likely have been happy to keep the deposit and simply resell the condo to another purchaser at a higher price. When the market declined, developers were facing a re-sale at a loss and began looking to the assignor to fill the gap. To make matters worse, in April 2010 the required down payment for an investment property quadrupled from 5 per cent to 20 per cent. With that, the likelihood of assignees being unable to com3FTJEFOUJBM QSF TBMFT In 2008, much like the global economy, real plete their purchases increased markedly. estate values in Metro Vancouver declined sharply. For the first time in a long time, resi- $PNNFSDJBM dential real estate investors caught up in the BTTJHONFOUT game were exposed to significant liability. The risks to a landlord posed by an assignment Those who had managed to flip their pre- are not as obvious as the risks to an assignor sales contracts before the market decline mis- of a pre-sale contract. An important risk does takenly felt secure. not arise from the assignment directly. Rather, Assignments come with significant risks for the assignment’s effect on contractual and all of the parties involved, particularly assign- legislative obligations poses a risk to the landors. Unless the assignment agreement expressly lord. For example, a commercial lease often states the assignor is free from future liability – requires notice as a precondition to exercising a

0

3&"- &45"5& */7&45.&/5

right such as termination or a claim to accelerated rent. A landlord must understand how an assignment affects this obligation. Once a contract is assigned, landlords often cease to deal with the old tenant (assignor) at all. Should the new tenant (assignee) fail to meet its obligations, the landlord will provide notice of default to the new tenant. In some cases, the landlord may commence a lawsuit against the old and new tenants. If the landlord did not continue to provide notice to the old tenant, the old tenant may successfully defend the claim on the basis that it never received notice. The benefit of the assignment – as opposed to replacement of the contracting parties – will have been inadvertently lost. To make matters worse, the new tenant might not be able to pay a judgment against it, and the

The required investor downpayment has quadrupled from 5 per cent to 20 per cent landlord will be out-of-pocket for damages unless the money can be recovered from the original assignor.

1SPUFDU ZPVSTFMG

meets certain sales thresholds; • requiring the developer’s approval to assign which may be refused for any reason; • charging a fee to assign; and • requiring the assignment to be in writing in the form provided by the developer.

5IF GJOF QSJOU If you have decided to invest in a pre-sale and assign your contract, read the assignment carefully. As noted above, the developer may require you to use its standard assignment form. This form is drafted by the developer’s lawyers and, consequently, is written to protect the developer’s, not the assignor’s, interests. The assignor should be satisfied that the assignee has the means and ability to follow through on his or her obligations. Remember, the only thing standing between the assignor and liability is the assignee. If the assignment agreement does not absolve the assignor from possible future liability, the assignor can insist upon an indemnity from the assignee. One should be careful to not take great comfort in an indemnity. If the assignee does not complete the purchase, you can expect that the developer will sue both the assignor and assignee. An indemnity is only meaningful if you can collect on it. Commercial landlords can improve their situation by including language in the original lease and/or assignment providing that notice to an assignee will be deemed sufficient notice to the assignor, thus obviating the need to provide separate notice to the assignor. This, however, may not be enough to overcome statutory notice requirements such as those provided in consumer protection legislation such as the Real Estate Development Marketing Act. A prudent landlord will provide notices required by legislation or the terms of the lease to both the old tenant (assignor) and the new tenant (assignee). Remember that assignments are legal documents. Prudent parties will get advice from a professional before entering into, or approving, an assignment.◆

What can one do to protect oneself? The first step is education. Do not think of an assignment as a quick way to make a buck. While the investment timeline may be short, a strategy of entering into a presale and then assigning it should be carefully thought out. One should consider the potential downside risk and honestly assess whether that level of risk is acceptable. Too often prior to 2008, people were tying up significant amounts of money into a pre-sale because they “couldn’t lose.â€? It turns out that they could, and did. If your intention is to enter into a pre-sale contract and flip it before construction is complete, read the contract terms carefully. Often the contract will provide limits on a purchaser’s right to assign his or her contract. Wesley McMillan is an associate with the law Common terms include: firm Harper Grey LLP, Vancouver. He can be • prohibiting assignments until the developer reached at 604-895-2683.

-PXFS .BJOMBOE

PUBS

For Sal e

SOUTH OKANAGAN PUB Liquor Store and Building for sale Asking $1,450,000

INVESTMENT OPPORTUNITY LO C : 2 0 3 5 1 LO G A N A V E , L A N G L E Y 5 acre land and building zoned I1 light industrial. Current OCP allows for subdivision into 10, 000 sq.ft Strata lots. The City of Langley will entertain any comprehensive development plans for the property that includes a retail concept. Building & Office: 12,000 sq ft. 20`clear. 600 Amps 460 Volts 3 Phase Enviro: Stage 2 Available Seller willing to rent back Warehouse plus 1 Acre of land. The building size, Amenities, flat site and inclusions makes this a spectacular offering at:

$8,500,000

C O N T A C T

Harol R. 604-725-6864

Sutton Realty 3010 Boundary Road, Burnaby.V5M 4A1

Elizabeth P. 604-763-5356

Coldwell Banker Realty 5489 Kingsway, Burnaby.V5H 2G1

NORTHERN BC PUB Land and Building opportunity Offered at $950,000

14.7 Acres Close to City NEW PRICE

$724,900

RARE OPPORTUNITY - MISSION, BC UĂŠ ÂœĂ€Â“iĂ€ĂŠĂƒ>Â?Â“ÂœÂ˜Ă‰ĂŒĂ€ÂœĂ•ĂŒĂŠv>À“ UĂŠ,Ă•Ă€>Â?ĂŠĂƒiĂŒĂŒÂˆÂ˜}]ĂŠÂ˜ÂœĂŒĂŠÂˆÂ˜ĂŠ ,]ĂŠÂœÂ˜ĂŠVÂˆĂŒĂžĂŠĂœ>ĂŒiĂ€ UĂŠ-Ă•L‡`ÂˆĂ›Âˆ`>LÂ?iĂŠĂŒÂœĂŠÂ“ÂˆÂ˜ÂˆÂ“Ă•Â“ĂŠÂ?ÂœĂŒĂŠĂƒÂˆâiĂŠÂœvĂŠ{ĂŠ>V UĂŠĂŽĂŠĂƒÂŤĂ€ÂˆÂ˜}‡vi`ĂŠÂ˜>ĂŒĂ•Ă€>Â?ĂŠÂ?>ÂŽiĂƒ UĂŠĂŠ >Â˜ĂžĂŠĂ•ĂƒiĂƒ\ĂŠ E ]ĂŠ,iĂƒÂˆ`iÂ˜ĂŒÂˆ>Â?ĂŠ >Ă€i]ĂŠ *Ă€Âœ`Ă•ViĂŠ->Â?iĂƒ]ĂŠ ˜VÂ?ÂœĂƒi`ĂŠ-ĂŒÂœĂ€>}i]ĂŠ œ“iĂŠ"VVĂ•ÂŤ>ĂŒÂˆÂœÂ˜]ĂŠiĂŒV For more Information please visit TRUDE KAFKA cel: 604-791-1304 email: trudek@smartt.com

Land, buildings and business Prince Rupert, BC $2,500,000 BC’s fastest growing super port city

LOWER MAINLAND Pub & Liquor Store

Opportunities For Lower Mainland Pub Opportunities call:

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

Sutton Group Showplace Realty Ltd.

s SUBDIVISION CONSTRUCTION s BUILDING ENVELOPE s CONCRETE ASPHALT SEALING s STRUCTURAL REPAIR s ROOlNG WATERPROOlNG s PARKING LOTS PARKADES

604-888-7818

Call Now or Email roger@roaron.com

www.roaron.com

Mattu Realty

BURQUITLAM STRIP PLAZA / SITE s FT SITE WITH EXISITING PLAZA s (OLDING INCOME WITH TENANTS s "URQUITLAM 0LAN ALLOWS &32 -AX s 0ROPOSED FOR -IXED 5SE s .EXT TO THE %VERGREEN ,INE s -AX BUILDABLE AREA n FT s )NFO PACKAGE AVAILABLE

For more information call

Savey Mattu JOHN JOHNSON

Construction “Your One Stop Shop�

www.KafkaRealEstateTeam.com

Waterfront Pub & Detached Liquor Store

Roaron

SAVEYMATTU HOTMAIL COM

Westview Town Houses

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

1- 87 7- 485-2324 warren@warrenbehan.com

Warren Behan Personal Real Estate Corporation

A20 Lower Mainland JERRY RACZKOWSKI

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

780-932-2121 jrcoach@telus.net

780-490-9324 ar_ar@shaw.ca

RE/MAX REAL ESTATE

10510 121 St., T5N 1L4 Edmonton, AB

www.AlbertaInvestorGroup.com Beijing, China Investments Real Estate Show UÊ5000 invited investors, over 100,000 investors to attend! UÊÊ ÕÀÀÞÊ-i«ÌÊ£x £n]Óä££Ê Ìi`Ê-«>Vit UÊÊ >Ê ÜÊ >ÃÊÓ `Ê >À}iÃÌÊ

MARKET YOUR REAL ESTATE PROJECTS TO CHINESE INVESTORS AND/OR JOINT VENTURES IN CANADA

« «Õ >Ì Ê vÊ > ÀiÃÊ> `Ê >ÀiÊ }ÊÌ Ê ÛiÃÌÊ>LÀ >`Ê

UÊÊ7iÊ>ÀiÊ }Êv ÀÊ ÛiÃÌ i ÌÊ «À iVÌÃÊÌ ÊÌ> iÊÌ ÊÌ iÊ i }Ê/À>`iÊ- Üt

SPECIALIZING IN COMMERCIAL INVESTMENT SALES FOR OVER 23 YEARS

ROB REGAN

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

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

Restaurant For Sale Coppertank Grill 3835 Main St

High Traffic Retail Location 4363 Main St (at 27th)

CED U D RE

Newer restaurant, sports bar, 96 Seats, live music venue. Long term lease. Asking $399,000

Farmland For Sale 5398 157th St, Surrey 5 acre vacant land. Nr Hwy 10 and 152nd. Holding property. Offers to $799,000

For Lease 1834 West 4th Avenue 750sf, $2,700 NNN

Chinatown Stores various sizes – call for details

East 6th Avenue Parking lot – 100' x 125' available immediately

Prime investment opp. Extensive renovations. New 5 year lease to experienced bakery. Large 3 bdrm suite. Asking $1,680,000

Chinatown Investment Prop 416 Main Street Growth potential in emerging area. High exposure & foot traffic. Established tenant Asking $1,200,000

For more details: Success Realty & Insurance Ltd.

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

Lower Mainland A21

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

Distribution Warehouse

FR RASE ER VALL LEY AC CREA AGE E www.glennduff.com

Beautiful View ~ NICE HOME~ Income Opportunity ......................................$1,995,000 CAMPBELL HEIGHTS SOUTH - NCP - 5 Acres NOT ALR !! 4500 SF Beautiful 6 Bdrm 4 Bath 3 level home w/ full SUITE & South view over Hazelemere Valley! Property also contains a 2000 SF SHOP !! Invest ahead as planning are in the works for a 100+ ACRE LAND ASSEMBLY ! Great potential opportunity to earn generous income as a land-fill site. This property is priced to sell fast !!! Owner needs a sale so don't hesitate!!!

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 $7 NNN. Seller will guarantee the first year's lease.

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

HORSE LOVER Enthusiast! ....................................................................$1,750,000 10 acre Horse Training Facility in Hazelmere Valley. 2 Houses, 2 large barns (+/- 40 stalls) Large shop + 1/4 mile horse training track. Property is fenced and provides a LARGE Rental Income! This is a terrific investment property and very well priced! Rare opportunity so hurry on this one. Do not enter property without an appointment! PRIVATE Home ~ NCP ~ Available Immediately! .........................................$1,478,000 2.17 "clean" Acres with a fabulous remodeled 3 bedroom/3 bath house!! This property is designated as Multi-Family located within the SOUTH PORT KELLS NCP area, which should be completed this year! Minutes to all the major highway connectors from #1 to Golden Ears and Hwy 15 to USA border. Don't hesitate on this hot deal in a very hot area!!! Hazelmere 43 Acres ~ Opportunity Galore!! ...............................................$4,988,000 Fabulous Hazelmere Valley - Very rare 43 Acres, Unique CD-4 ZONING allows for "PRIVATE CLUB" - Ask for details! Currently over 300 Stall Horse Barns, Large separate Workshop building, 9 Apartments - 4 totally renovated. This property offers many options to an end user from Horses to Greenhouses to Private Assembly Hall! Centrally located only minutes from the Pacific Truck Border Crossing, Hwy 99, 176 Street - Hwy 15 and 16th Avenue. Call for Viewing.

GLENN DUFF OFC: 604-533-3491 Toll Free: 1-888-707-3577

RE/MAX Treeland Realty Ltd. 101-6337 198th Street, Langley BC V2Y 2E3

A22 Lower Mainland/Sea to Sky/Sunshine Coast

SEPTEMBER 2011 WESTERN INVESTOR

Guard Services · Mobile Patrol · 24 Hr Monitoring · Alarm Response

SQUAMISH Retail/Office Strata 872 sf with retail finishing

$199K

I-1 Revenue Property 0.55 Acre, tenants

firstsecure.ca

877.870.4776 INTEGRATED SECURITY SOLUTIONS Ross Ibrahim

Jami Sidhu

Account Manager

Account Manager

604.300.0722

604.300.1097

ross.ibrahim@1stgroup.ca

jami.sidhu@1stgroup.ca

Full Service Security Company

|

MAPLE RIDGE, BC

Build Your Dream Country Estate on One of 3 Choice 5 Acre Lots Lot 2 is a designated Heritage Site – first one in Maple Ridge. Finely crafted home is to be restored to the original as much as possible. An excellent project for qualified connoisseurs. Suggested uses: Art gallery/ studio, B&B, home office etc. Build a prime residence next to it. Lot 2 Listed at: $675,000 Lot 3 is the best: $550,000 Lot 4: $525,000

For an information package call Stan at:

Pub & Real Estate - 4000 sf on over 1/2 Acre 163 seat & BW allowed, redev. potential

$699k

Prime Retail For Lease 1,200 – 15,000 sf B Park by National Retailers and Hwy 99! Mixed Use Building Downtown

Licensed, Bonded, and Insured

$1.19 Mil

Spring 2011

$67K Potential net income $869K

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

RE/MAX Sea to Sky Real Estate Squamish

RIVERFRONT ESTATE LOTS SQUAMISH, BC (BRACKENDALE) 7 prime 10+ acre residential or equestrian estate lots on the banks of the Squamish River and Judd Slough in breathtaking Brackendale, BC. This gated community is directly across from a natural eagle reserve and directly south of the confluence of the Squamish and Cheakamus rivers. World class fishing and limitless recreation at your doorstep. 45 min. to Van., 35 min to Whistler, 7 min. to amenities. Call for more information and detailed plans. Subdivision application pending.

604-467-9300 NEED NOW !!! $5 - $15 million Shopping Centres

JUST COLLECT THE RENT! $2,125,000 Building approx, 5 years old, 12,566 sq.ft. Building. Lot is 31279 Sq Ft. Fully Lease Commercial Property, Busy area of Chilliwack. Well maintained with 5 great tenants. Great Exposure! PRICED TO SELL AT! DON'T MISS OUT! HARD TO FIND PROPERTY.

$1,270,000 EXCLUSIVE LISTING 44290 Yale Rd. West Excellent Hwy Exposure. 4 Bays plus Live in Suite Zoned. M2. Land approximately 19,166 sq.ft. Building approximately 7976 Sq.Ft. Each bay has separate entrance, large overhead doors. Perfect Investment Building in Growing Area. Just Listed. Call 604 798 2977 for Details NEW LISTING $1,799,900 44703 Yale Road/44698 Chalmer Place 1.66 acres in 2 titles, zoned M2 (Service Industrial) in absolutely prime location. Highway 1 exposure, access of Yale Rd. or Chalmer Place (cul-de-sac). Set in the heart of the Industrial area with easy access to the City and national transportation routes. Zoning allows for wide variety of uses including warehousing, light manufacturing, food processing, sales, and more. Offered at a highly competitive price of approx. $25 per sq.ft. THIS IS A GREAT DEAL! $449,000 2 45922 YALE RD. BUILDING AND LAND LOCATION LOCATION!!! This property is on Busy Yale Rd with excellent exposure. (Across for South Gate Shopping Centre) Very clean Building!! Building approx. 2900 sq.ft. with one Bay door, Excellent Retail Space for your business or purchase existing Business. Goal Line Hockey Can be purchased separately it is a state ofthe-art Hockey training facility with Rink and Skatemill. A must see. Priced to Sell!!

$1,950,000 45787 Yale Road Exclusive Listing perfect for your business. Building is over 12,000 sq.ft. and has new siding, new windows, and a new elevator. Downstairs is 6,147 sq.ft. and has a large showroom, offices, and upstairs has 4 leased tenants in offices. The building is in a great area of town with lots of parking and easy access to the entrance and exit to the property on a fenced .935 acre lot. This property was appraised at 2.2 million and the vendor is motivated to Sell!

5%

CA

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OCEANFRONT CONDO RECEIVERSHIP SQUAMISH, BC

PRICES DISCOUNTED OVER 30% COMMERCIAL INVESTMENT Commercial Building for Sale in busy industrial area. Great highway exposure, easy access to property. Building has front parking lot with additional parking on the road. BUILDING IS TENANTED WITH A ESTABLISHED BUSINESS (Harley Shop)

CONVENIENCE STORE/FITNESS CENTRE/BUSINESS BUILDING & LAND PACKAGE 51278 & 51296 YALE ROAD. 2 TITLES $725,000 Site 12,196.8 sq.ft. Building 3,881 sq.ft. zoned C-2 (Commercial). Retail space, living quarters, and additional space on a nice corner lot. This is an established business with a large clientele base. This property has so many upgrades it’s a must see! VENDOR MOTIVATED BRING OFFERS

Lindsey Gauthier Personal Real Estate Corp.

sutton group showplace realty ltd.

GauthierTeam.com

2 Bed + Den Condos from:

$239,000

Ocean view 2 Bed Condos from:

$319,000

3 Bed Carriage Homes from

$335,000

1.5 blks to the waterfront. 45 min to Vancouver, 35 min to Whistler. New master planned ocean front in expanding downtown core. Steel & concrete construction with mountain and ocean views.

www.coastalvillageliving.com For more information contact Darren McCartney: Sea to Sky Real Estate Squamish

604.892.4875

A23

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

REGIONAL ROUNDUP Savvy owners find success turning C-class buildings into prime downtown real estate

WESTERN INVESTOR igh vacancies aren’t necessarily a sign of a healthy market, but when BC Ferry Services Inc. vacated 1112 Fort Street in Victoria late last year, Jawl Properties Ltd. saw an opportunity.

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With vacancies in the core running at historically high levels, Jawl launched a $2.1 million retrofit and upgrade of the downtown property that positioned it at the head of a market with a surfeit of older buildings. Colliers International reports that downtown Victoria office vacancies rose to 9 per cent in the first half of 2011, from 8.4 per cent at the end of 2010. The increase downtown was offset by a drop in suburban vacancies to 8.5 per cent – down from 11 per cent at the end of 2010. The most significant shift was in class-B space, with tenants fleeing older classB space downtown for better-quality options in the ’burbs. Renovations to 1112 Fort Street gave Victoria-based software developer Procura LLC a downtown alternative. “We were coming out of a class-C building and what we saw, there really wasn’t much that had the floor-plate size that we needed and was still in the core,� said Mike Gareau, director, corporate services, for Procura. Gareau worked with Devencore Co. Ltd. (the Vancouver office of global tenant representation firm Newmark Knight Frank Devencore ) to secure the space. “We looked at some brand-new space in a class-A building, and for a company our size the lease rates were just way above what we could afford,� Gareau said. “So the space here, it was just perfect timing – the timing of their renovations, and the timing when our previous lease was expiring and the right floor plan and a landlord that was very, very good to work with.�

Jawl, for its part, saw 1112 Fort Street offering long-term value to its portfolio when it struck a deal with BC Ferry Services for the 35-year-old property and closed the deal in 2010 for $11 million. “We purchased it with an eye to expanding our footprint of high-quality office product within Victoria,� said Robert Jawl, who led acquisition efforts on behalf of family-owned Jawl. “The building presented a good opportunity to do a fairly full-scale renovation and upgrade to bring that building a notch or two higher in terms of its quality position.� In addition to Procura, which occupies 8,600 square feet (or about 20 per cent of the building, with an option on an additional 8,600 square feet), Elections BC has leased half the 52,957-square-foot property. The circumstances of 1112 Fort Street aren’t unlike those of other properties in downtown Victoria.

3FUSPGJUT

Another example is the Dogwood building at 1019 Wharf Street, a 60,000-square-foot property formerly occupied by government offices. Christopher Developments Inc. is renovating the property, including seismic upgrades, and the Victoria office of Colliers is seeking tenants. Dave Ganong, managing director for Colliers in Victoria, touts it as the only waterfront office space available in Victoria right now. He expects the property to be leased up within the year. Demand for space has strengthened as the economy recovers. Ganong notes that 70 per cent of the 300,000 square feet of new class-A product completed last year has been absorbed. BC Ferry Services pre-leased space at 800 Yates Street, which Jawl completed last year, and BC Land Titles also took space in the building. A new, 50,000-square-foot development at 947 Fort Street also leased to a variety of government

TOP: Capital plan: new provincial leader expected to expand government office space demand. RIGHT: Jawl Properties transformed old space on Fort Street into cutting-edge downtown offices.

and private-sector tenants. This has helped turn attention to the suburbs, where properties such as Morguard Investments Ltd.’s redevelopment of Uptown (the former Town & Country Shopping Centre in Saanich) is attracting tenants, including Plenty, a Vancouver boutique, Best Buy, Future Shop, Mexx and others.

6QUPXO

“If you’re looking for new office space in the city, Uptown is your primary option right now,� Ganong said. A key element in the dynamic is one of the traditional factors of Victoria’s commercial real estate market: the provincial government. A key user of space as well as a magnet for aspiring new companies and new residents,

Photo: Jawl Properties

PETER MITHAM

Photo: Tourism BC

7JDUPSJB /FX MJGF GPS PME TQBDF

government has aggressively reviewed its space requirements in recent years as well as the kind of space it occupies. Consolidation of provincial offices and a mandate to secure environment-friendly space as leases come up have sent a clear message to Victoria landlords over the past three years. Ganong foresees increased governmen t office demand as Premier Christy Clark puts her stamp on government and the post-Gordon Campbell era takes shape. “They’ve been in a retrenching mode for the past couple of years, and the sense that I get is that within the next 12 months you’re going

Please see Victoria page A24

7BODPVWFS *TMBOE

ED HANDJA PERSONAL REAL ESTATE CORP.

www.bcoceanfront.com

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6 "16 ,Ê - Ê ,*",/ Ideal  ight service & maintenance facility in

>“LiÂ?Â?ĂŠ ,ÂˆĂ›iĂ€, with direct access to the airport taxi & runway! £°£Ă“ĂŠÂ?iĂ›iÂ?ĂŠÂ?i>ĂƒiÂ…ÂœÂ?`ĂŠ>VĂ€iĂƒ, xäĂ?xä½ĂŠ “>ÂˆÂ˜ĂŒi˜>˜Vi building with over-height ceilings, {ä½ overhead door, Ă“äääÂ?L hoist & built in compressor, an attached Ă“äĂ?Ă“{½ shop & attached Ă“äĂ?xä½ space incorporating a self-contained 2bedroom suite & an ofďŹ ce & reception area. $250,000

" , ĂŠ, / ĂŠEĂŠ" ĂŠ " * 8 ÂźxĂˆÂŻĂŠ ÂœÂ˜ĂŒĂ€ÂœÂ?Â?ˆ˜}ĂŠ Â˜ĂŒiĂ€iĂƒĂŒ½ in a 2-storey x{{äĂƒÂľvĂŒĂŠ strata title complex situated in the downtown core of

>“LiÂ?Â?ĂŠ,ÂˆĂ›iĂ€\ an ideal retail and ofďŹ ce building or Performance Arts facility with Ă“ĂˆääĂƒÂľvĂŒĂŠ on the main level andĂŠ Ă“n{äĂƒÂľvĂŒĂŠ on the second level. Plumbed and wired with ďŹ bre-optics for 4 units to accommodate various types and sizes of ventures!

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,/ĂŠ 9ĂŠ" 6 7ĂŠ Ă“°ĂŽxĂŠ>VĂ€iĂƒĂŠÂˆÂ˜ĂŠĂ“ĂŠ/ÂˆĂŒÂ?iĂƒt Well maintained resort style accommodations with good revenue and consistent clientele: 12 renovated free-standing ÂœVi>Â˜ĂŠ Ă›ÂˆiĂœĂŠ V>LÂˆÂ˜Ăƒ, from ĂŽääqĂˆ{äĂƒÂľvĂŒ and separate managers’ lodgings, minutes from the amenities of town and incredible adventure. `Â?>ViÂ˜ĂŒĂŠĂŒÂœĂŠ>Â˜ĂŠ>ÂˆĂ€ĂƒĂŒĂ€ÂˆÂŤ –  y your clients with style!ĂŠ/Â…iĂŠÂœÂ˜Â?ÞÊ}œˆ˜}ĂŠVœ˜ViĂ€Â˜ĂŠÂœvĂŠ ÂˆĂŒĂƒĂŠÂŽÂˆÂ˜`ĂŠÂˆÂ˜ĂŠĂŒÂ…ÂˆĂƒĂŠ>Ă€i>tĂŠĂŠ fÂŁ]äÇx]äää

",/ -ĂŠ - ĂŠ*, 6 / ĂŠ ,-/, * Extremely private ÂŁĂˆä‡>VĂ€i property, on the southern tip of Cortes Island adjacent to -“iÂ?ĂŒĂŠ >ÞÊ*Ă€ÂœĂ›ÂˆÂ˜Vˆ>Â?ĂŠ *>ÀŽ. This acreage features a ĂŽ£äävĂŒ /Ă€>Â˜ĂƒÂŤÂœĂ€ĂŒĂŠ

>˜>`>ĂŠ>ÂŤÂŤĂ€ÂœĂ›i`ĂŠ>ÂˆĂ€ĂƒĂŒĂ€ÂˆÂŤ, mining license with a reserve of gravel and other aggregates, a ĂŽÂ™Ă“ĂŽĂƒÂľvĂŒ, 5bedroom main residence with 2 additional self contained 1-bedroom suites, forested areas and beautiful landscaping. $1,650,000

!

A24 Vancouver Island

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

Saltspring Island 18 Acre Waterfront – Subdividable $1.399 M Waterfront Homes $750,000 & up

7.75 Acre Farm, Home, Cottage and Barn $569,000 Garry Park Lots, 3 Acres $189,000 & up 7 Acre Walk On Waterfront $899,000 Channel Ridge, Serviced Ocean View Lots $289,000 & up Island Homes & Lots Starting at $298,000 Sunset Drive Waterfront Executive Home $2.375 M MYLES WILSON NORMAN ROTHWELL myleswilson.comnormanrothwell.com 250-537-7200

250-537-5166

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23 Acre Lakefront Home & Farm $2.3 M

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I N GT

Ocean View Homes $489,000 & up

2VJDL GBDUT

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the site in 2005 and completed remediation work before filing a rezoning application for a to start to see a little more activity,� Ganong 3,500-unit residential development on the site in June 2007. said. In the meantime, many companies are joining Jawl in purchasing properties that offer *OEVTUSJBM good long-term value in a relatively stable mar- The biggest drivers of Victoria’s industrial ket. Toronto-based Whiterock REIT picked market at present, according to Colliers viceup Gateway Park, a 181,000-square-foot office president Ty Whittaker, are owner-users and property on Keating Cross Road, in May for tech companies. $31.9 million. The transaction was significant, Mid-year 2011 statistics indicate that at nearly three times the value of Jawl’s deal for industrial vacancies are running at 3.4 per cent, down marginally from 3.7 per cent in 1112 Fort Street. Meanwhile, in Sooke, 37 kilometres west of December 2010. Victoria usually sees 169,900 the capital, Partners Real Estate Investment square feet of new industrial space built each Trust of Victoria has bought the 88,200-square- year, but 2010 saw just 42,500 square feet foot Evergreen Shopping Centre for $15.8 mil- completed – a trend that’s continued this year. At the same time, net absorption – typically lion. 185,000 square feet a year – was just 62,383 #BNCFSUPO square feet. While office tenants looked to the suburbs for “I’m finding there’s limited depth in our cheaper, better-quality space beyond down- leasing market,� Whittaker said, but added: town, the same is true for industrial clients “Our high-tech market is very healthy and facing the makeover of established industrial strong. There are a number of locally born-andareas in Greater Victoria. bred companies that are continuing to expand “Victoria’s industrial waterfront is being and do very well on both a regional, national gentrified a little bit, so there’s some desire to and global basis.� move some of those uses out of the downtown These include StarFish Product area,� said Ross Tennant, development man- Engineering Inc., Redlen Technologies, ager for Bamberton Properties LLP, which ASL Environmental Sciences Inc.and AXYS is working with Three Point Properties Ltd. Group Ltd. – companies active in the life sciof Victoria to redevelop the Bamberton lands ences and environmental field. just across Saanich Inlet from the Victoria area. The other bright point has come from fedBamberton’s 1,550 acres were formerly home eral infrastructure funding, especially for naval to a major cement plant. Three Point acquired contracts.

7*$503*" from A23

Oak Bay

VICTORIA

7JDUPSJB # $ Population 83,362 Office vacancy 9 per cent Housing starts 2,118 (2010) Average single-family house $581,117 Average condo apartment $315,371

3FTJEFOUJBM

Victoria’s once-white-hot housing market has cooled with sales and prices down and inventory rising to more than 5,000 homes on the market this summer, a 14 per cent increase from a year earlier. As of July, the average condo price had dropped to $315,371, down from a six-month average of $327,762, while the average detached house price had fallen by about 5 per cent to just over $581,000.◆

marketing your franchise?

Location, Location, Location

1041 FairďŹ eld Road, Victoria, BC Very desirable “Cook Street Villageâ€? eight (8) unit apartment offers one – 2 bedroom, one – one bedroom with den and six – 1 bedroom suites. Fully rented, providing $105,540 in Gross Annual Revenue.

A buyer could easily buy and hold it long-term, or it could be redeveloped. Proposal allows for a new 13 unit strata or rental unit building. $150,000 has already been spent on these re-development plans, with the architectural plans, drawing etc included in the price, or owner will seriously consider a joint venture on the this lucrative redevelopment property.

Call the

For more information or to arrange a viewing, please contact:

R. MIKE MULLIN, CGA @ 1-855-650-6560 or mullin@telus.net www.coastrealty.com ROB PHILLIPS @ 1-800-715-3999 or rob@robphillips.ca www.robphillips.ca

1-800-661-6988 • (604) 669- 8500 • westerninvestor.com

Buying, selling or leasing commercial property in Greater Victoria? Victoria area commercial REALTORSÂŽ have the knowledge and expertise you need. Jack Barker

Des Dennis

Bev Highton

Jason Middleton

Eric Spurling

Garry Barsalou

Fidele Di Salvo

Randy Holt

Ron Neal

Anne Tanner

Jerry Bola

Komal Dodd

Robert Hunter

Glenn Nicholls

Peter Tanner

John Bruce

Jim Donaldson

Jason Kahl

Rick Pettinger

Tim Taylor

David Brumby

Grant Evans

Bill Knowles

Kevin Pirie

Jean Thorndycraft

Chris Burke

Ken Featherby

Ana Kraft

Gail Reaney

Clive Townley

Fraser Campbell

Brenda Ferguson

Mike Lagadyn

Jim Russell

Dave Vogel

Dan Chilton

Dennis Fimrite

Bob Law

Stephen Shea

Ed Williams

Bill Chudyk

Wayne Garner

Doug Ledding

Dale Sheppard

Robert Young

Peter Crichton

Robert Garry

*ULIĂ€Q /HZLV

Ed Sing

Amanda Crowder

Ian Geddes

Ross Marshall

Graham Smith

Jack Davis

0LFKDHO +DGĂ€HOG

John McVie

RE/MAX Camosun Peninsula Devon Properties Ltd. Pemberton Holmes Ltd. DFH Real Estate Ltd. NAI Commercial (Victoria) Pemberton Holmes Ltd. Royal Lepage Coast Capital Coldwell Banker Slegg Rlty Royal Lepage Coast Capital DFH Real Estate Ltd. DTZ Barnicke Victoria Ltd. Davis Realty Corporation

DFH Real Estate Ltd. NAI Commercial (Victoria) RE/MAX Camosun Fair Realty

Colliers Macaulay Nicolls NAI Commercial (Victoria) Sutton Group West Coast Rlty Firm Management Corp. Jonesco Real Estate Inc. Pemberton Holmes Ltd. Pemberton Holmes Ltd. Equitex Realty Ltd.

NAI Commercial (Victoria) DTZ Barnicke Victoria Ltd. Devon Properties Ltd. Kahl Realty Inc. DFH Real Estate Ltd. NAI Commercial (Victoria) Burr Properties Ltd. Colliers Macaulay Nicolls NAI Commercial (Victoria) DTZ Barnicke Victoria Ltd. DTZ Barnicke Victoria Ltd. Royal LePage Coast Capital

Cornerstone Properties Ltd. RE/MAX Alliance DTZ Barnicke Victoria Ltd. Pemberton Holmes Ltd. NAI Commercial (Victoria) Colliers Macaulay Nicolls Royal LePage Coast Capital Pemberton Holmes Ltd. RE/MAX Camosun Westshore

Proline Management Ltd. DTZ Barnicke Victoria Ltd. Firm Management Corp. NAI Commercial (Victoria) Pemberton Holmes Ltd. Pemberton Holmes Ltd. Access Realty Ltd. 'LYHUVLÂżHG 3URSHUWLHV /WG Brown Bros Agencies Ltd.

RE/MAX Camosun Fair Realty

250.385.7766 www.vreb.org/comwi

Vancouver Island A25

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

Business Is Better On Vancouver Island For Sale 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 COR-3 (Community Corridor) 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

Development Opportunity CHRISTINA

LAKE,B.C. 32 Acres with 1/2 Acre Zoning 43+ Lot Subdivision Potential

Flexible & Motivated Sellers

Call Now! $1,250,000

including Facility Management Services in Victoria and Prince Rupert, B.C.

Contact Dale Schuss

Matthew Oldroyd & Nicholas Bardon

1-250-658-8060 dale.schuss@randallnorth.ca

Fully Tenanted Investment Property - Ladysmith

$ 945,000

Macdonald Realty Ltd. www.grandforksbcproperty.com info@grandforksbcproperty.com

Commercial Development Property - Nanaimo

$ 795,000

1-800-388-5882

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

Full Property Management Services (Residential and Commercial)

www.randallnorth.ca

1.2 acres with CC-1 Zoning beside Nanaimo Parkway.

Lakefront Pub & Land - Lake Cowichan

$ 674,000

COMOX VALLEY,

$ 590,000

VANCOUVER ISLAND ICI:

Approximately $300,000 spent on improvements since February 2009.

Commercial Property - Alberni Highway 1.11 acres with exceptional highway frontage.

Residential Development Property - Nanaimo

$ 549,000

4.88 acres near the Nanaimo Parkway.

3.49 Acre Light Industrial Property - South Nanaimo

$ 549,000

Court Ordered Sale - Waterfront Restaurant, Land, Building

$ 499,000

TWO PRIME LOCATIONS WITH HUGE POTENTIAL AS CAREHOME OR CONDO SITES

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

Commercial Property Zoned COR-3 - Nanaimo

$ 325,000

2 lots on Kerrisdale Road totaling 19,600 sq ft.

Character Office Building - Nanaimo - 950 sq ft, high traffic area.

$ 289,000

Hangar Building and Office - Campbell River Regional Airport

$ 289,000

Commercial Property Zoned COR-3 - Nanaimo

$ 260,000

r 9,800 sq ft lot with 1,037 sq ft office off Bowen Road.

LANGFORD CONDO SITE APPROVED FOR UP TO 188 UNITS EXCELLENT LOCATION LOCATED NEXT TO COSTCO, FOUR POINTS SHERATON, HOME OUTFITTERS AND OTHER HIGH PROFILE RETAILERS

Featured Listings Green Rock Industrial Park 9,710 to 59,376 sq ft $199,000 to $834,000

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

2.34 ACRES OF INCREDIBLE POTENTIAL $4,399,000

Seaview Centre - Parksville $ 99,000 to $299,000

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

Unique Commercial Offering - Downtown Nanaimo

$ 1,375,000

5,500 sq ft warehouse/shop, 1,400 sq ft house and parking lot.

Saratoga Beach Golf Course - Black Creek

$ 1,595,000

37.47 acre redevelopment property with executive style golf course.

Seniors Care Facility - Ladysmith

$ 1,700,000

5 acres of oceanfront with plans in place for 24 additional units.

Heavy Industrial Property

COMOX EXCELLENT SITE FOR CAREHOME OR CONDO DEVELOPMENT $3,000,000 CENTRALLY LOCATED AND ADJACENT TO MAJOR BRANDS SUCH AS: SHOPPERS DRUG MART, SUBWAY, A&W

INDUSTRIAL OFFICE SPACE -543 s.f. @ $12/s.f. + NNN $4.43 (est) -ideal for contractor’s ofďŹ ce -brand new, appliance hook-ups 4 INDUSTRIAL STRATA UNITS FOR SALE -being sold as single package -currently leased at $4000 base rent/mo + NNN -cap rate 6.2%, Asking: $775,000 (for package of 4) RETAIL COMMERCIAL OFFICE SPACE -1250 s.f. @$12/s.f. + NNN $4.80 (est) -4 ofďŹ ces, boardroom, lunch & 3 piece bath -2nd oor level close to downtown Courtenay MULTI-FAMILY BUILDING, VICTORIA -Sought after Cook Street Village area -8 unit building, 5.1% cap rate -plans avail. for 13 unit strata at 3rd reading Asking: $1,590,000 LEASE SPACE INDUSTRIAL -1680 s.f. $11/s.f. base, + $2.77NNN (est) -industrial zoned‌includes free 600s.f. mezz -fenced compound out back, 14’ loading door

ROB PHILLIPS TF: 1-800-715-3999 Cell: 250-897-8508 rob@robphillips.ca www.robphillips.ca

SUE MCKITRICK

Please visit our website or call for more details.

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

monarkinvestments.ca

Offered for sale at $2,000,000

604-592-7250

Investment Property - Brentwood Bay

Financing Available. Potential Trades.

7,417 sq ft fully leased commercial strata unit in professionally managed development.

Cell : 250-650-8823 mckitrick.sue@gmail.com

www.coastrealtygroup.com

Offered for sale at $2,395,000 Investment Property Located in Coombs, this 18.81 acre site on the Alberni Hwy includes a mobile home park and commercial lease revenue. Well priced at an 8% cap rate. Offered for sale at $2,775,000

+, -& , + --

Business Opportunities UPHOLSTERY & FURNITURE REFURBISHING—Nanaimo

$ 119,000

FAMILY ADVENTURE CENTRE—Nanaimo

$ 149,000

SEWING MACHINE & FABRIC RETAILER—Nanaimo

$ 180,000

FRANCHISED FAMILY RESTAURANT—Ladysmith

$ 219,000

ESTABLISHED PLUMBING & HEATING BUSINESS—Nanaimo

$ 225,000

ESTABLISHED RESTAURANT—Tofino

$ 249,000

JUMPING JIMINY’S PLAYLAND & CAFÉ—Nanaimo Well known children’s entertainment business

$ 419,900

RESTAURANT ON ISLAND HIGHWAY—Parksville

$ 425,000

ESTABLISHED PLUMBING & HEATING BUSINESS—Nanaimo On 7,560 sq ft lot with 1,300 sq ft building

$ 550,000

A&W RESTAURANT & FAMILY ADVENTURE CENTRE Franchise restaurant in Central Nanaimo as a package with a well known family entertainment destination

$ 595,000

RETAIL BUSINESS & DEMOLITION CONTRACTOR —Central Vancouver Island New and used building materials

$ 775,000

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

$1,500,000

PUB & LIQUOR STORE—Coombs

$1,900,000

FRANCHISED MOVING & STORAGE CO.—Central Vancouver Island

$2,550,000

CEDAR SHAKE/SHINGLE MANUFACTURER - www.bcfshake.com Land, Buildings, Foreshore Leases and Equipment, Inventory extra

$3,900,000

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

Tel: 1 800 769 5757

gerry.vanvaals@dtzbarnicke.com

www.dtznanaimo.com

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A26 Vancouver Island

26"-*$6. #&"$) B U S I N E S S O P P O RT U N I T Y

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

JUDY GRAY, CCIM

*#') 68G: H>I: 6K6>A67A:#

3285 Island Hwy W.

UÊÊCourtenay City - All Services available. UÊÊZoned for 45 Patio homes. UÊÊAll approvals are in place. UÊÊCleared and rough graded. UÊÊREADY FOR SERVICING UÊÊPriced to sell. UÊÊOwner Retiring - $35,000.00 a door.

UÊ7>ÌiÀvÀ ÌÊ Ìi ]ÊÜ> ÊLi>V UÊ-Ìi>`ÞÊ V iÊÜ Ì Ê}À ÜÌ Ê« Ìi Ì > UÊ"Ü iÀ½ÃÊÃÕ ÌiÊÜ Ì ÊnÊ}ÕiÃÌÊÃÕ Ìià UÊ i>V vÀ ÌÊ`iV ÃÊEÊ«>Ì Ã

$1,995,000 Ian Mackay & Aaron Nicklen www.ianmackay.ca

1-888-954-4433

1.800.600.1718

DEVELOPERS AND BUILDERS

6GI B:N:GH Call

250-207-1879

•Two well established Curves franchises in Victoria, BC •Curves is the largest women's only fitness franchise in North America •Shining Star Clubs in high traffic areas of large territory •Profitable, turn key operations. •Join one of the world’s most successful franchise companies •Discover the basics at www.curves.com

Priced to Sell! only $199,000

Trina Koprich Email: greyling242@gmail.com

Or Call: 403-318-8085 4671 McLeod Rd, Burlington. ON L7M 0E4

Royal LePage in

NANAIMO | VANCOUVER ISLAND DEVELOPMENT AND INVESTMENT OPPORTUNITIES

RESTAURANT

OBTAIN A PRIME BUSINESS Turn key, superb location in beautiful Comox “By the Sea” Vancouver Island, BC 92 seat, (the only) family/ casual dining restaurant in Comox, extensive clientele, fully equipped/decorated.

EXCELLENT INCOME and PROFIT NUMBERS Share sale for business or business plus 5,478 sq ft building. Key commercial core of downtown, main street, lower level is tenanted. Serious inquiries only. Buyer must be qualified.

Price: $395,000 (Business only, includes franchise fee) Business / Building available CALL

Neil Woodrow

250-338-3349

DEVELOPMENT OPPORTUNITY WITH OCEAN AND CITY VIEWS Upscale development in the University area for 10 residential lots and 26 luxury townhomes. This development project has all the necessary plans, reports and approvals in place. Development Permit for construction can commence within a short period of time. CALL DARWIN NEW!! BARSBY ON THE MILLSTONE A great development opportunity for a well designed 58 unit Condominium Project on 1.14 acres of land on the Millstone River. Located within the no DCC zone of the City of Nanaimo, this project offers an immediate connection to the E&N trail as well as the miles of seawall on the Harbour only 3 blocks away. Development Permit ready. ASKING 1.55 M, CALL DARWIN MULTI – USE DEVELOPMENT SITE One of the remaining development sites within the main service corridor of the Chase River neighbourhood – South Nanaimo. With approx. 4.3 acres of usable lands and excellent access directly off Hwy 19A via traffic light. This site has excellent potential for a wide use of mixed Commercial-Residential developments. 2.8M, CALL DARWIN

COMOX VALLEY

EMAIL neilwoodrow@shaw.ca

www.woodrowgroup.com

EXCELLENT REDEVELOPMENT PROPERTY W/ EXISITNG MOTEL Enjoy the existing holding income from the current motel complex while planning a new 6 storey commercial/ residential mixed use complex. Great location near Hospital Node where demand exceeds supply for strata medical offices. Excellent exposure to Highway 19A and great access from rear of property with easy design for underground parking. 1.5M CALL DARWIN BUSINESSOPPORTUNITYATTHE BEACH CLUB – PARKSVILLE B.C. “Perfectly Positioned Spa” in the Newest 4 Star Hotel Resort in Parksville B.C. A turnkey operation, elegantly designed treatment room, the latest equipment and spa line products, topped off with an unbelievable LEASE. Call BILL SOREG for Details. 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 @ $1.9 M. Information brochure. CALL ROB

Darwin Mahlum Robert Borden

250.760.1066

AQUACULTURE SEA FARM FOR PURCHASE A turnkey facility waiting to be restarted into production. Excellent location in Barkley Sound, the Pacific Rim of the West Coast of Vancouver Island. This specific sea farm is noted as having one of the best locations for sea farming activity and has the potential of expanding within its existing license. Consulting can be arranged for new owners and staff to be trained over a 2 year period. All permits and licenses are in order. Watch for the increasing growth now starting to happen in the Aquaculture business on the BC Coast. WELL PRICED @ $850,000 Call ROB INDUSTRIAL BUILDING IN METRO VANCOUVER – REDUCED!! 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 @ $727,000. CALL ROB

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

SEW WEST SIGNS $89,500 Sign & embroidery shop. Busy single owner/ operator ran.

TOURIST COMMERCIAL DEVELOPMENT LAND 2 lots both waterfront Lot 5 1.25 acres $345,000 Lot 6 1.52 acres $405,000 PENDING

ENTRANCE TO UCLUELET $139,000 Vacant commercial .31 acre, underground services including 3 phase power.

WHISKEY LANDING SITE – SOLD Ucluelet Inlet waterfront foreclosure.

VACATION RENTAL CABINS Trail & Beach access, great location. Nightly rental permitted or keep for personal use. 289A Boardwalk - Waterfront 2 bdrm, 3 story $279,000 271 Boardwalk - Foreclosure 2 bdrm w/f $299,000 273 Boardwalk - Foreclosure 2 bdrm w/f $289,000 1016 Peninsula – Seller financing OAP $199,000

www.judygray.com

BUY

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

Information brochure available.

Vancouver Island's Leader. DEVELOPMENT, LAND, RES/COMM PROJECTS, & MARKETING Toll Free: 1-800-817-7717

1-800-661-6988

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. $698,500 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: $788,800

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

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

INCOME PRODUCING + REVENUE PROPERTIES 15 UNIT 2 STOREY STRIP CENTRE CENTRAL NANAIMO High profile location. $899,900

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

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Ocean Pointe

Vancouver Island A27

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

C H E M A I N U S VANCOUVER ISLAND Saltair Mini Warehouse 10862 Chemainus Rd

Looking for a new pad?

C2 Zoning U Est. Storage Business U 3.63 Acres U Additional Land for Future Development Reduced $1,329,000 U

Lake Cowichan Lakefront Lot - $419,900 ä°{™Ê>VĂ€i vĂ•Â?Â?ĂžĂŠĂƒiĂ€Ă›ÂˆVi`]ĂŠĂƒÂœĂ•ĂŒÂ…ĂŠ v>Vˆ˜}ĂŠ`Ă€i>“ÊÂ?ÂœĂŒĂŠĂŒÂœĂŠLĂ•ÂˆÂ?`ĂŠ ĂžÂœĂ•Ă€ĂŠÂ˜iĂœĂŠÂ?>ÂŽivĂ€ÂœÂ˜ĂŒĂŠÂœ>ĂƒÂˆĂƒtĂŠ ˜VÂ?Ă•`iĂƒĂŠÂŤĂ€ÂˆĂ›>ĂŒiĂŠ`ÂœVÂŽ°ĂŠ ĂŠÂ“Ă•ĂƒĂŒĂŠ ĂƒiiĂŠÂŤĂ€ÂœÂŤiĂ€ĂŒĂžt

Guy Bezeau or Gayle Jordan 250-245-3700 islandcommercial@shaw.ca RE/MAX Ocean Pointe

Cowichan River Front Estate - $1,125,000 6iĂ€ĂžĂŠÂŤĂ€ÂˆĂ›>ĂŒiĂŠÂŁĂ“°Ă“ĂŠ>VĂ€iĂŠiĂƒĂŒ>ĂŒiĂŠĂŠ ĂœÂˆĂŒÂ…ĂŠĂ‡ääĂŠvĂŒĂŠÂœvĂŠĂ€ÂˆĂ›iĂ€vĂ€ÂœÂ˜ĂŒĂŠÂ?Ă•ĂƒĂŒĂŠ Â˜ÂœĂ€ĂŒÂ…ĂŠÂœvĂŠ6ˆVĂŒÂœĂ€Âˆ>°ĂŠ"˜iĂŠÂœvĂŠĂŒÂ…iĂŠ ˜ˆViĂƒĂŒĂŠÂŤĂ€ÂœÂŤiĂ€ĂŒÂˆiĂƒĂŠÂœÂ˜ĂŠ6>˜°ĂŠ ĂƒÂ?°ĂŠ ĂœÂˆĂŒÂ…ĂŠĂ€i˜œ½`ĂŠxĂŠLi`ĂŠÂ…ÂœÂ“iĂŠ>˜`ĂŠ Â“ÂœĂ€i°°°

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

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UĂŠ /ĂŠ 1-/, ĂŠ-/, / ĂŠĂŠ ³É‡£xääĂŠ-+ĂŠ / Over 20' ceilings 2 full storeys allowed. .............. fÓÇ{]™ää UĂŠĂŠĂŽĂŽääʳÊ-+ĂŠ /ĂŠ ĂŠ "1,/ 9ĂŠĂŠĂŠ ĂŠRetail/OfďŹ ce/Warehouse (Strata)ĂŠfĂŽĂ“x]äää UĂŠ ÂŁ]{ĂˆäĂŠ-+ĂŠ /ĂŠ, / ĂŠ 1 ĂŠ On .23 ac, Cumberland ........... f{nä]äää UĂŠ ĂŠ+1 /9ĂŠ-/, / ĂŠ" ÊʇÊ Ă“]{ääĂŠĂƒÂľĂŠvĂŒĂŠ .....................................................fĂˆĂ“Â™]äää

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DAVE KOSZEGI

REALTORÂŽ

EVER POPULAR TINTOWN!!! 2456 Rosewall Cres. Courtenay

This package includes a lovely upper level 2 bedroom 2 bath luxury loft style condo with large sun deck. This is the ideal location for your thriving business that needs to make the jump to a fully  edged high proďŹ le location, which will be located in the 1420 sq. ft. of ďŹ nished space on the main  oor.

direct / pager 250.723.SOLD (7653) ofďŹ ce 250.751.1223 toll free 1.888.246.8695 email dave@midislandhomes.com web midislandhomes.com davekoszegi.com 723sold.com

Glenn Procter PERSONAL REAL ESTATE CORPORATION

250-703-3687 www.gprocter.com

RE/MAX Ocean Pacific Realty

9JC86C! 78

1 Acre - Zoned for High Density Senior Residences Central Location, Beside the Duncan Hospital.

UĂŠ ÂŁ]Ă“ääĂŠ-+ĂŠ /ĂŠÂŁn¿Ê ĂŠĂŠ°°°°°°° fÂŁ{™]™ää UĂŠ -/, / ĂŠ" ĂŠ ",ĂŠ- ĂŠ 2nd oor vacant 2,200 sq ft ... fĂ“{™]™ää 3rd oor leased 2,200 sq ft ...... fĂ“x{]™ää

27 Acre Cobble Hill Estate - $1,365,000

FOR SALE IN PORT ALBERNI 2920 3rd Ave REVITALIZED DOWN TOWN CORE s SQ FT OF COMMERCIAL SPACE DOWNTOWN s SEPARATE STORE FRONTS CURRENTLY UNDER LEASE s 0OTENTIAL ANNUAL REVENUE OF s $579,000 4040 Redford St - BRING YOUR BUSINESS s SQFT IN A GREAT LOCATION SURROUNDED BY SEVERAL ESTABLISHED BUSINESSES s SQFT SHOW ROOM SQFT WAREHOUSE s OFlCES KITCHEN AND RECEPTION AREA s $475,000

UĂŠ ÇÊ1 /ĂŠ */ĂŠ " "8ĂŠ Zoned for 14 Units ................... fnxä]äää UĂŠ°Ă‡ÂŁĂŠ ĂŠ "7ĂŠ, - ĂŠ */ĂŠ- / ĂŠ°°°°°fnxä]äää UĂŠ ĂŽ]ĂˆääĂŠ-+ĂŠ /ĂŠ, / ĂŠ 1 ĂŠ On .28 ac, Comox ................... f™Óx]äää UĂŠ ĂŽ]äääĂŠ-+ĂŠ /ĂŠ, / ĂŠ 1 ĂŠ On ½ ac, Courtenay ................. f™Óx]äää UĂŠ nnääĂŠ-+ĂŠ /ĂŠ, / É" ĂŠ ............................................... fÂŁ]Ιx]äää -"

-*.!%%%

* Options include 60-90 bed care facility or 30-50 or more condos * Seller will consider joint venture, builders terms, building to suit, etc. * Plans available for proposed project.

CLINT STEIGENBERGER 250 597 4663 DIRECT LINE marianburnett@remax.net www.597home.com

DUNCAN 250 748 7200

Subscribe 1-800-661-6988

UĂŠ ĂŠ-/", ĂŠ " * 8 ....fĂ“]ә™]äää

Rob Samsom

AACI CCIM FRI PERSONAL REAL ESTATE CORPORATION

Call direct 250.710.8779 www.realestatecowichanvalley.com

1-888-829-7205

, É 8ĂŠ"Vi>Â˜ĂŠ*ÂœÂˆÂ˜ĂŒiĂŠĂ“xä°Ă“{Ăˆ°ĂŽĂ‡ää

RE/MAX Ocean Pacific Realty

www.robsamsom.ca

www.westerninvestor.com

VANCOUVER ISLAND COMMERCIAL www.nanaimoremaxcommercial.com

1-877-335-4380

Jay Cousins Realty

FOR SALE UĂŠ 7ĂŠ " ĂŠ / ĂŠ , /ĂŠ qĂŠ Multifamily site approved for 16 units. No DCC’s, close to downtown Nanaimo with some ocean views. fĂŽĂ“ä]äää

Jay Cousins jay@jaycousins.com

www.nanaimoremaxcommercial.com

1-877-423-0984

INVESTMENT OPPORTUNITIES

INVESTMENT OPPORTUNITIES

UĂŠ "7 /"7 ĂŠ "ĂŠ" ĂŠ 1 ĂŠ3 Storey Office building 4,865 Sq. Ft. Main floor tenanted with upper 2 floors ready for new renovations. 9 Parking stalls included.ĂŠ ĂŠf{ә]äää

UĂŠ / ĂŠ , / ĂŠ -/", ĂŠ ‡Ê +1 1 ĂŠ ĂŠ Offering a unique selection of arts, crafts, clothing, etc., with over 20 years of success & comes with a terrific reputation & a built in clientelle. 5-year lease in place w/options to renew. Inventory to be purchased sep. fÓә]äää UĂŠ {‡* 8ĂŠ 1 / ‡, - / ĂŠ *,"* ,/9 – Parksville Attractive location, quality tenants on yearly leases, ocean view from upper suites, C-3 zoning can potentially allow higher fx™™]äää commercial or mixed uses in future. U ",ĂŠ- ĂŠ",ĂŠ - ĂŠqĂŠ 1-/, ĂŠ*,"* ,/9Close to downtown Nanaimo & zoned I-2 allowing many uses. 7,200 Sq. Ft. warehouse over 2 levels. Recent renovations, asphalt paved front, side & rear yards, power is 400 amp, three phase. Close to highway access. Upper floor currently leased to long term tenant. Main level available for lease at $8.00 per sq. ft. plus TN. fĂˆÂ™Â™]äää UĂŠ 1- --ĂŠ7 / ĂŠ 1 ĂŠEĂŠ ĂŠ – MID-ISLAND – Includes fuel sales & automotive repairs on European Import Vehicles including Mercedes & BMW. High visibility location, fresh reno’s to the building, ocean views. fǙ™]äää U "1,/ĂŠ", , ĂŠ- ĂŠqĂŠ ‡ - ĂŠqĂŠx°Â™ĂŽĂŠ , -ĂŠ Industrial zoned land with newer 14,580 sq ft. warehouse, 4,410 sq ft. shed for storage and office building. Two level topography, fenced, easy access to highway. Was lumber facility. fÂŁ]Ă‡Ăˆn]äääĂŠ UĂŠ , ‡ 6 "* /ĂŠ "**",/1 /9ĂŠ Existing Alzheimers/ dementia care facility w/90 beds plus separate residential home available for conversion to congregate care or rezone to multi-residential etc. 44,255 Sq. Ft. building on 1.87 acres near Nanaimo hospital. Society owner will remain with one year lease at current market rents during planning/feasibility phase of redevelopment. f{]xää]äää

UĂŠ /ĂŠ 1-/, ĂŠ-/, / ĂŠ " * 8ĂŠ ĂŠ ,, /" ĂŠ 1,000 Sq. Ft. in 4 year old building. 15 Units in all, paved grounds, concrete block construction & busy neighbourhood.ĂŠfÂŁĂ“{]äääĂŠ UĂŠ -/, / ĂŠ1 /ĂŠ ĂŠ 1-/, ĂŠ* , ĂŠqĂŠ " Approx. 1,300 Sq. Ft. Light Industrial, 2 overhead doors, 2 man doors, office, 18’ ceilings, Strata Fee is $56.50 per month. fĂ“x™]äää UĂŠ

1 "1 ĂŠ 1-/, ĂŠ* , ĂŠqĂŠ-/, / ĂŠ1 /ĂŠApprox. 1,400 Sq. Ft., 2 offices plus mezzanine, 1 overhead door, 2 man doors, 18’ Ceiling height, Strata Fee $62.00/mo. fĂ“ĂˆÂ™]äää UĂŠ /7"ĂŠ 6 ĂŠ -/, / ĂŠ 1 /ĂŠ qĂŠ * , -6 ĂŠ Service Commercial zoning. Main level warehouse with 6 offices, staff kitchen & washroom upstairs. Full A/C on 2nd level as well. Owner is willing to lease back. fĂŽĂ“x]äää UĂŠ*",/ĂŠ , ĂŠ+1 /9ĂŠ" ĂŠ*,"* ,/9 boasts great location, heritage characteristics & is available for expansion or re-development consideration. Constructed in 1959 there is approx. 30,500 sq.ft. over 3 levels. Zoned CMX-2 allows for a wide range of uses. Info Portfolio Available. fÂŁ]Ă“{™]äää UĂŠĂŽĂŠ* , ĂŠ 6 "* /ĂŠ*"/ / ĂŠ" ĂŠ* , -6 É , ĂŠ 7 9ĂŠ Approx.ĂŠ79 Acres, corner location. Mining permit in place for pit run, crushing, screening & washing gravel. Owner has been careful to maintain character of the land. Currently zoned rural residential, but highest & best use would indicate development rezone. fx]™ää]äää

JAY COUSINS

JAY COUSINS

UĂŠĂŠ ĂŠ/ / ĂŠ 1-/, ĂŠ 1 ĂŠ ",ĂŠ- - 12,106 UĂŠ £°{ĂŠ , ĂŠ*,"* ,/9ĂŠ<" ĂŠ 69ĂŠ 1-/, Fully fenced, 2 entrances, over 300’ of frontage in Duke Point, Nanaimo. Light Industrial (I-2) building on a 1 acre stratified lot. Owner will Includes 10’ X 30’ office mobile. Seller will entertain lease @ lease back for 5 years. Air conditioned 1,765 sqft office space $2,800 per month plus taxes. f{™n]äää with a sales/reception area, two offices, a lunchroom, and two bathrooms. Located in North Nanaimo, with easy access to bus UĂŠÂŁĂ“ĂŠ1 /ĂŠ * ,/ /ĂŠ 1 – PORT ALBERNI 5-two routes, and major transportation corridors. fÂŁ]n™ä]äää Beds & 7-one Beds, upgrades to all units, city & inlet views, turn-key operation, approx. 7.5% CAP rate. Call LS for detailed package. fÇ{™]äää UĂŠ 7 ĂŠ "7 ĂŠ *",/ĂŠ , ĂŠ , ĂŠ 1 ĂŠ qĂŠ Currently used as offices & union hall, approx. 6,990 sq. ft. over 3 floors. P1 zoning allows public assembly, but could be commercially rezoned. f™™x]äää UĂŠ 1 / ‡ 9ĂŠ , / ĂŠ 1 /-ĂŠqĂŠ Central Nanaimo. UĂŠ /ĂŠ 1-/, ĂŠ <" ĂŠ " * 8ĂŠ qĂŠ ‡ - ĂŠ Great revenue opportunity potential to generate $164,000 annuBeautifully constructed half duplexes and freestanding single ally. Island Highway exposure, easy access, 6 buildings in total, all family homes. 3 bed, 3 ½ bath, ranging from 1760 sq. ft. to 1890 on 2.88 acres. Rental rates with vacancies filled will show nearly sq.ft. Included: tile and hardwood flooring, custom alder cabi8% CAP rate.ĂŠ ĂŠ fÂŁ]n™x]äää netry, granite countertops, 6 appliances. All bedrooms have a private ensuite with shower and/or tub. fÎә]™ää‡fĂŽ{™]™ää U 1 / ‡/ / ĂŠ 69ĂŠ 1-/, ĂŠ*,"* ,/9ĂŠ – Parksville area. 6.2 Acres partially developed with new wareUĂŠ 6 /ĂŠ, ‡xĂŠ- / ĂŠq Approximately 0.8 acres overlooking the houses, new 4 unit multi-res work/live space, new office building Millstone River with easy access to downtown Nanaimo. Great plus existing build to suit tenant in place on 1 acre portion w/ central location for a multifamily development, located within paved & security fenced area. Further 2.5 acres left to continue walking distance to Downtown Nanaimo, the New Convention development plan. Potential income under current configuration Centre, and seaplane service to Vancouver. fĂˆnä]äää in excess of $164,000 annually. REDUCEDĂŠfÂŁ]™xä]äää

FRANK JOHNSON

of Nanaimo

Frank Johnson frank@remaxofnanaimo.com

JAY COUSINS

INVESTMENT OPPORTUNITIES

BUSINESSES UĂŠ >ÂˆĂ€ĂŠ Ă•ĂŒĂŒÂˆÂ˜}ĂŠ Ă€>˜VÂ…ÂˆĂƒiĂŠ ÂœĂ€ĂŒÂ…ĂŠ >˜>ÂˆÂ“ÂœĂŠÂ?ÂœV>Â?iĂŠ UĂŠEstablished Photography Business-Duncan UĂŠBernard Callebaut Chocolate Dealership-Nanaimo UĂŠRicky’s All Day Grill – Courtenay

fnx]äääĂŠ f£Î™]äää fÂŁ{™]äää fә™]äää

A28

www.westerninvestor.com SEPTEMBER 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

DEVELOPMENT SITES

PORT COQUITLAM

North Side Condo Site with holding income! For 26+ units – OCP designated RA-1 16059 sq. ft. site with 2 fully rented fourplexes $1,600,000 CLS# V4027326 Call or email David for Pro-Forma COQUITLAM

2 lots – C1 & RS1 for new development 19000 sq. ft. lots busy location – Como Lake & Poirier $1,350,000 CLS# V4025947 - Call or email David!

YOU GET WEALTHY BY STRATEGY An example of this is, defer taxes annually into commercial property and let it grow tax free!

INDUSTRIAL WAREHOUSES/OFFICES

COQUITLAM #100 42 Fawcett Rd.

M-1 Industrial unit 5080 sq. ft. 1580 warehouse with 2 grade doors, 3500 sq. ft. finished office/showroom $775,000 CLS#V4027558 Call or email David!

FOR SALE OR LEASE IN CHILLIWACK PROGRESS WAY INDUSTRIAL PARK BUY OR LEASE B UIL D SU TO IT

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->ÞÊ} `LÞiÊÌ ÊÞ ÕÀÊL ÃÃ]Ê> `ÊV iÊ Ü Ê this turnkey biz in Abbotsford. Sales of books and teacher supplies. Easy biz to learn and owner will train. UÊ{äääÊõÊvÌÊ } ÌÊ `ÕÃÌÀ > Ê iÜiÀÊ­ÓääÇ®Ê building in Dawson Creek, BC.

1 to 20 Acre Development Lots xArchitecturally

Controlled Serviced Lots xWill Build to Suit xIndependent or Strata Warehouse for sale or Lease from 2,000 to 500,000 sq. ft. xFully

1-888-942-0606

RE/MAX S ABRE REALTY

x7.5 Acres of farm land xOutstanding views xRoom for horses or?? xApprox. 15 min to HWY #1

70 x 80 Barn xParadise, close to everything

SALE $895,000

SALE $469,000

BUSINESS FOR SALE

INVESTMENT PROPERTY

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

Toll Free:

manufacturing, general commercial and light & heavy industrial uses. Outside storage

x14.35 Acres of Farm land xIncludes 6 Bdrm Home +

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

604-942-0606

Lickman Rd. Interchange and Hwy 1 Chilliwack -20 min to US Border Usage: Warehousing, food processing,

FORMER DAIRY OPERATION - 2 TITLES

DAVID KEARNEYCCIM

dkearney@remax.net

xLocation:

FOR SALE IN CHILLIWACK

UÊ ÕÌ ÊL âÊv ÀÊÃ> iÊÊ$159,000

www.davidkearney.com

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

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

PORT COQUITLAM

Prime Lougheed Highway Frontage! HC zoned 20700 sq. ft. level lot with 2 rental buildings. Property offering includes automotive business $2,299,000 – CLS# V4027170 – Call or email David!

RE/MAX SABRE REALTY GROUP

&/2 3!,% s &/2 3!,% s &/2 3!,% s &/2 3!,% s &/2 3!,% s &/ 2 3!,%

Auto Salvage LANGLEY BC ~Currently Auto Salvage ~3.2 Acres ~M-7 (industrial) Zoning ~Phase 1&2 environmental Studies Available QUONSET HUT 56’ x 80’ w/ 36’ x 60’ MEZZANINE for parts storage MAIN BUILDING

STORAGE for 500+ Vehicles at back

SALE $598,800

FORECLOSURE PROPERTY

DEVELOPMENT SITE

xGood street exposure xPlenty of City Parking xRenovated in 2007 x11,293 sq. ft. lot

xComprised of 2 separate titles xFully Leased - current income

$4500/month gross size 48,326 sq. ft.

xLand

SALE $875,000

SALE $1,144,000

LIVE/WORK PROPERTY

LIVE/WORK OPPORTUNITY

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

xLevel land in high traffic area xEasy access with turning lane x.31 acres xValue in land, house is livable

Storage

SALE $339,900

SALE $599,900

FOR LEASE IN CHILLIWACK BRAND NEW RETAIL/COMMERCIAL STRATA x14 units to choose from xLocated on busy main road xHigh visibility xFrom 746 sq. ft. to 4,654 sq. ft.

Lease $7.50/sq ft

SHARE SALE INCLUDES

LAND, BUILDING, INVEN TORY CLIENT BASE AND BUSIN , ESS

$6,500,000

For more information contact:

GARTH OLSON Re/Max Treeland Realty 604-533-3491 realestate@garth-olson.com s www.garth-olson.com

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

$1,600,000 KEITH SETTER

SALE $79,900

xGreat opportunity for business

owners and investors xGet in at ground floor and pick your

spot today

LEASE FROM: $8/SQ. FT. TN

40’ x 90’ Parts Counter, Lunchroom, Disassembly Bay Residence also on the Property

x.29 Acre lot zoned CSI xCommercial on bottom floor xResidential on top floor xFully leased ± 4,040 s.f. building

xSandwich Tree Franchise xEasily run by couple or family xThis business makes money x

604-533-3491

xWarehouse/manufacturing

xOne of Chilliwack’s best

space x2 Spaces available up to 2035 s.f. xRoll up door, washroom, office etc. xHigh visibility on busy Yale Rd.

x1 Blk to hospital and shopping x800 to 1524 sq. ft. available xJoin other doctors and dentists xWell maintained bldg w/elevator xPlenty of onsite parking

Lease from $10$12/sq ft

professional buildings

Lease from $12-$13/sq ft

Lease $6.50/ sq ft

Lease $9/sq ft

xNear Courthouse xOffice and/or retail space xSpace available 1091 to 1665 sq ft x4,450 sq. ft. air conditioned xOn site parking and good access x9 private offices, reception etc.

xOn high traffic corner x1,900 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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