Western Investor August 2011 Section A

Page 1

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

SELF STORAGE – FOR SALE OSOYOOS, SOUTHERN BC

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

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

19 BUILDING AN “INSTANT CITY�

s SQFT DEMISED AS OR RENTAL UNITS s CAR COVERED PARKING LOT s FT FRONTAGE WITH CORNER EXPOSURE s Asking $2,275,000 s .EAR "RAID 3KYTRAIN (WY ,OUGHEED (WY s Asking $699,000 / $154 psf MICK MATHEUSIK, M.Sc. 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 604-691-6656 mick@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

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

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

Island mega-build will house 3,000 residents John Evans, CEO of Trilogy Corp. transforming tiny Cumberland into a retail, housing, gaming destination

9 WARNING: LEED OR BLEED

MERRITT, BC OPPORTUNITIES

MINI STORAGE ON 1 ACRE PARCEL

$4.29 AUGUST 2011 Vol. 26/Issue 8

â–˛

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 s ,OW DOWN PAYMENT s /WNER WILL HELP lNANCE s -ANAGE TO OWN

ALFRED LEUNG 604-534-7974 CHRIS LANGHAUG

INDUSTRIAL PROPERTIES FOR SALE / LEASE INDUSTRIAL FOR LEASE – LANGLEY

INDUSTRIAL FREESTANDING BUILDING – LANGLEY

INDUSTRIAL FREESTANDING – MISSION

s .EWER BUILDING n YEARS OLD s UP TO SQ FT s &ULLY SPRINKLERED s $OCK AND GRADE LOADING AVAILABLE s 6ACANT n )MMEDIATE OCCUPANCY s $7.25 sq.ft. net

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

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!!!

Developers not on the green track could be left to count losses 13 LEAPING BEYOND MLS

Social media, open access change how real estate is listed and sold SPECIAL SECTION • B10

HOT PROPERTIES

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

PUBLICATIONS MAIL AGREEMENT 40069240

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

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

A2 Lower Mainland OWN IN HILLCREST/CLAYTON CALERA

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ERIC WALKER

FOR SALE YALETOWN STRATA OFFICE

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IAIN YOUNG

FOR SALE - WATERFRONT FOR SALE - 12 STRATA TITLED RESTAURANT, PUB & LODGE TOWNHOUSES

www.westerninvestor.com AUGUST 2011 WESTERN INVESTOR

FOR SALE 780 EAST CORDOVA STREET

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FOR SALE - 9948 100TH STREET, FORT ST JOHN

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BILL RANDALL*

BILL RANDALL*

FLAVIO UNTI

BRAND NEW LARGE BAY STRATA UNITS IN CAMPBELL HEIGHTS

NORTH SHORE STRATA UNITS FOR SALE

FOR SALE - PRIME CORNER LOCATION IN KAMLOOPS

FOR SALE HIGH EXPOSURE

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MATTHEW MACLEAN BRETT AURA

CHRIS DRIVER* DON DUNCAN*

ANDREW GREEN* KEVIN VOLZ

BRAD NEWMAN-BENNETT DAVID CANNING

HIGH VISIBILITY INVESTMENT OPPORTUNITY

449 E. HASTINGS STREET VANCOUVER

FOR SALE - KELOWNA STORAGE PARK

MULTIFAMILY DEVELOPMENT SITE

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FOR SALE HIGH QUALITY INDUSTRIAL STRATA UNITS

MARK TREPP* BOE IRAVANI

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FOR SALE - 88 CREEKSIDE ROAD, ROSSLAND, BC

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BART VANSTAALDUINEN*

CRAIG HAZIZA*** BOE IRAVANI

6629 KINGSWAY, BURNABY

PEMBERTON MULTIFAMILY SITES

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BILLRANDALL* RICK EASTMAN*

KYLE WILSON CRAIG HAZIZA***

CHRIS NEWTON MATTHEW MACLEAN

BILL RANDALL* NOAH FREEDMAN

CRAIG HAZIZA*** KYLE WILSON

BILL RANDALL*

FOR SALE - BRAND NEW STRATA BUILDING

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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SEAN UNGEMACH** MICHAEL THOMPSON*

BILL RANDALL*

CHRIS DRIVER* DON DUNCAN*

MARK GALLAGHER HUDGE PARMAR*

BRETT AURA

BRETT AURA

VANCOUVER POINT GREY APARTMENT

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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BRETT AURA / DON DUNCAN* CHRIS DRIVER*

HUDGE PARMAR* MARK GALLAGHER

BILL RANDALL*

MIKE HARDY

HUDGE PARMAR*

BILL RANDALL*

RETAIL SHOPPING CENTRE INVESTMENT OPPORTUNITY

RECEIVERSHIP SALE BELOW ASSESSED VALUE

FOR SALE - WILLOW CALE ROAD, PRINCE GEORGE, BC

FOR SALE - SALT SPRING ISLAND RESORT

OWN YOUR OWN OFFICE SOLARIS

FOR SALE MIXED USE MULTITENANT BUILDINGS

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HUDGE PARMAR*

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RICK EASTMAN* KEVIN VOLZ

Moving with confidence

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BILL RANDALL*

BILL RANDALL*/ DON DUNCAN* CHRIS DRIVER*/BRETT AURA

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ERIC WALKER CRAIG HAZIZA***

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 "6(645

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

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PRAIRIE HORIZONS

FEATURES 19 0/ 5)& $07&3 *OTUBOU DJUZ GPS UIF *TMBOE

On the cover John Evans, president of Trilogy: near wide-open zoning allows homes, retail, casinos at Cumberland’s Cayet Photo: Richard Lam

108&3 0' 5)& 13"*3*&4

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

Cayet project will swallow village of Cumberland

9

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Developers recognize green’s bottom-line benefits

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

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Entrepreneurs harness new techology for realtors

COLUMNS

2–17 -08&3 ."*/-"/% 3&"- &45"5&

18–23 7"/$067&3 *4-"/% 3&"- &45"5&

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

1301&35: "/% :063 1&/4*0/

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FOR LEASE OFFICE/WAREHOUSE I-5 CORRIDOR

Leasing rates are falling! This 17,000 SF building, built in 2005, is located 8 miles south of the border at Exit 266. Concrete tilt up building sits on 2.5 acres in the Interstate 5 Business Park. The building consists of a 16,000 SF warehouse plus a 1,000 SF mezzanine/attractive office area. You will not find a nicer one. It’s worth looking at. It is currently available at .37 PSF or $6,290 per month plus triple net expenses.

For more information, call our office.

RON BENNETT COMMERCIAL REAL ESTATE Ron Bennett

SUTTON GROUP WEST COAST REALTY

(USN Ret.)

CALL

/ Owner - Broker

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

Don Munro

604-817-7338

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

✓ VALUE FOR $

botsold@intergate.ca

ACREAGES CHILLIWACK

LANGLEY

ABBOTSFORD

51140 Ruddock Road s !CREs s 0OTENTIAL FOR ,OTS

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

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

7640 Nixon Road s !CREs s "EAUTIFUL LOG HOME AND LARGE SHOP s 6IEW OF THE WHOLE VALLEY

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

32323 George Ferguson Way s PLEX ON SQ FT LOT s CLOSE TO SHOPPING TRANSPORTATION AND SCHOOLS

700 Columbia Valley Road s !CRES s 0RIME &ARM ,AND s 2EADY TO BUILD HORSE RETREAT CLOSE TO #ULTUS ,AKE

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

SURREY 188th Street and 80th Avenue s !CRES s &UTURE 0OTENTIAL

✓ GOOD RETURN

27571 60th Avenue s !CRES s (OUSE AND -ODULAR (OME

✓ TENANT COVENANT

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

✓ UPSIDE

✓ CAREFREE

A4 Lower Mainland

www.westerninvestor.com AUGUST 2011 WESTERN INVESTOR

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#: */7&4503

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48'7752

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+PIO 604-618-5522

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2857 5)*5*) !'/*

7, 9*18*

FOR SALE

81,260 sq.ft. R&D

!855*; c AG= „n !0# 0#1'"#,2' * "#4#*-.+#,2 1'2# "& ',+! ,)) / c "# **7 *-! 2#" ', 2&# 0 ,"4'#5 #'%&21 & " ! ',)!'' '& (+ ($ & ) c 3 (#!2 1'2# '1 0#!2 ,%3* 0 ', 1& .#I ," ** &+" $$/ $ - $

BUILDING AT UBC

1521 WEST 4TH AVE Corner lot of 5,650 sq ft. Cash business included $2,619,000 Call LARRY TRAVERENCE

604-787-7654

3800 Wesbrook Mall provides an excellent environment that will support and enhance the intellectual and social development goals of companies involved in R&D. Laboratories, ofďŹ ces, teaching, training, and conference facilities, in support of research and development in a number of key areas. $10,500,000

'6 !'1),8

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$'1(289*5 ' '5-1' 3'570*176

*1)5*// !75**7 $'1(289*5 *1)5*// '16-216

*+ ' &% & '& ) + !" ! )"* )'.& ."+! +.' *+') / ( &+!',*

Call LARRY 604-787-7654

PRIME WESTSIDE INVESTMENT OPPORTUNITY 2094 West 43rd Avenue at East Blvd. Kerrisdale, one of Vancouver’s oldest and most afuent neighbourhoods. 2 strata units 1,311 sq ft. Asking $910,000 3 strata units 3656 sq ft. Asking $2,500,000 May be purchased together - 5 strata units Great lease in place Asking $3,388,000

*+ & ! )"+ ,"$ "& *,"+ * - ) "& '- )

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Call LARRY TRAVERENCE 604-787-7654 OR REID DEWSON 604-732-9944

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

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UNIQUE PROPERTIES !*(,*/7

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

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Lower Mainland A5

WESTERN INVESTOR AUGUST 2011 www.westerninvestor.com

APARTMENT BUILDING SPECIALIST BURNABY

PENTICTON

NEW WESTMINSTER

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

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

NEW WESTMINSTER

LANGLEY

COURTENAY

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

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

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

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

604.263.2823

MIXED-USE DEVELOPMENT

MIXED-USE DEVELOPMENT

FOR SALE

LOT FOR SALE

RETAIL FOR SALE

891 Cambie Street/225 Smithe Street Vancouver 75,000 sq ft of buildable density 125’ x 120’ site For sale by court order

6158–6178 East Boulevard, Vancouver 2ARE OPPORTUNITY IN +ERRISDALE s :ONED # Two properties on 12,452 sq ft lot 31,130 sq ft of buildable density

42 West 8th Avenue, Vancouver 8,531 sq ft 3-storey freestanding building Owner/user opportunity with income 2 dock level loading doors Ample parking

1186 Granville Street, Vancouver 3,000 sq ft development site 3.5 FSR Parking income High exposure location

1632 West 4th Avenue, Vancouver +/–1,990 sq ft retail building with 25’ FRONTAGE ON 7EST TH s 5SER INVESTOR opportunity

Ryan Saunders, Mitch Ellis

James Bayley, Meghan Kennedy

James Bayley, Tom Bakker Meghan Kennedy

INDUSTRIAL SALE/LEASE

COMMERCIAL REDEVELOPMENT

Chris McIntyre, James Bayley, Tom Bakker

OFFICE FOR SALE/LEASE

INDUSTRIAL SALE

INDUSTRIAL SALE

1 - 550 Beatty Street, Vancouver 1,695 recording/production strata Brick and beam heritage building ,ARGE ROOF TOP DECK s !IR CONDITIONED "IKE STORAGE s 0RIVATE LOCKER

101 - 8988 Fraserton Court, Burnaby 2,126 sq ft flex strata unit Modern tilt-up construction Rear grade level loading Signage opportunity

140 Glacier Street, Coquitlam Rare high quality 23,100 sq ft facility ON ACRE s GRADE LEVEL DOORS .EW ROOF s &LOOR DRAINS Vendor will lease back up to 17,000 sq ft

1301 Ketch Court, Coquitlam Two 2,550 sq ft units, 5,100 sq ft total 1UALITY DEVELOPMENT s 'RADE DOORS Ample yard area Asking $965,000 or $9.00 per sq ft lease

904 & 918–990 Victoria Street, Kamloops 2 buildings on 9 lots totalling 1.377 acres Total building area 88,000 sq ft Existing holding income Asking price $1,995,000

Rand Thomson

Phil Gibbons, Steve Caldwell

Chris McIntyre, Steve Caldwell

Steve Caldwell, Phil Gibbons

Steve Caldwell, Murray Wills

INVESTMENT SALE

DEVELOPMENT OPPORTUNITY

INDUSTRIAL SALE

INDUSTRIAL LAND FOR SALE

INDUSTRIAL SALE/LEASE

375 Lynn Avenue, North Vancouver New riverfront building Single strata leased investment sale 24’ ceilings s PHASE POWER Highway #1 proximity

2450 Ticehurst Lane & 2455 Gately Avenue, Port Coquitlam 32,381 sq ft site with river frontage 48,571.5 sq ft of buildable density

23011 Fraserwood Way, Richmond 28,152 sq ft on 1.30 acres 3 dock and 1 grade level door 24’ warehouse ceiling height Tilt-up concrete construction

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

1611 Valmont Way, Richmond 14,133 sq ft freestanding building /VERHEAD CRANE s GRADE LOADING DOORS (6!# SERVICE IN THE OFFICE 19’ 6� warehouse ceiling height

Anthony Lux, Casey Bell

Casey Bell, Anthony Lux

Anthony Lux, Casey Bell

Pr ic e

Re du ce d

James Bayley, Tom Bakker

Rand Thomson

Chris McIntyre, James Bayley, Tom Bakker

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

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

Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent veriďŹ cation. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 08/2011.

A6 Lower Mainland/Business Opportunities 8FTU¤T TVDDFTT GPSNVMB GVFM GPPE GFSUJMJ[FS BOE GPSFTUT

"

lberta-based real estate investor Don Campbell says the menu for the future success of the western provinces is simple: fuel, food, fertilizer

and forests. With a global population approaching nine billion and a new middle-class consumer sector exploding in China and India, these four ingredients mean that a stable Western Canada will continue to see an unprecedented level of growth. Add in metal materials, such as copper, gold and silver, and British Columbia is also in a prime position to benefit in the global economy. As you will see with our extended coverage of the Prairie provinces inside, the power of the West is already being seen in huge real estate investments and a cocky new approach to development by local governments. In Edmonton, which is benefiting from a oilpatch surge fuelled by US$100-a-barrel oil, the city looked at 33 plans from around the world to choose a Vancouver design team for the most audacious urban makeover in Canada:the 500-acre transformation of the former City Centre airport that will include a man-made lake and pedestrian-friendly homes for 30,000.

In Regina, flush from the boom in potash sales, a giant Global Transportation Hub is being created that covers 2,000 acres and includes more than one million square feet of distribution warehouses in the first phase alone. Saskatchewan, the analysts say, will trail only Alberta with the second-highest economic growth in Canada this year.Royal Bank of Canada (RBC) estimates that a new wave of capital investments will carry into 2012, led by global demand for natural resources. Real GDP growth is projected to stand at 4.3 per cent next year, RBC forecasts, which will place Saskatchewan at the top of the provincial rankings. The reason is food and fuel. Saskatchewan has more farmland in production than any other province, holds the the world’s largest reserves of potash, the universal fertilizer, and has the giant Bakken oil fields as a trump card. Winnipeg, of course, now has the NHL and is building another national landmark with its Canadian Museum of Human Rights. Manitoba, rich in agriculture and mining, is the only Canadian province that dodged the recession of 2008-2009. In British Columbia, a Japanese metal manufacturer has already bought every ounce of copper from the new Copper Mountain

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

Mine at Princeton, which has proven reserves of five billion pounds. Meanwhile, B.C. shipments of coal and lumber to China are at record levels. All this translates into unique opportunities in real estate, both in the commercial and residential sector. As Campbell, head of the Real Estate Investment Network, told investors at a recent Edmonton conference: “I suggest that you don’t wait until the frenzy is here, because then you’ll be frustrated, putting in multiple offers. Right now you can see it happen, and now is the time to start.�

/&95 .0/5)

Western Investor publishes our annual Residential Investing report, with experts telling where and how to benefit in a volatile market. We look at condo buying for investors, low-cap apartment buildings and how REITS are changing the rules. Our regional reporters file from Canmore, Prince Albert, Thompson and Victoria. Plus we present the latest news and commentary needed by western investors.

AUGUST 2011 WESTERN INVESTOR Publisher Cheryl Carter Editor Frank O’Brien Contributing Writers Dave Husdal, Geoff Kirbyson, Glen Korstrom, Joel McKay, Peter Mitham, Kevan O’Brien, Robert Smithson 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 1G2Subscriptions and Advertising Sales Tel: 604-669-8500 Fax: 604-669-2154 Canada/U.S. toll-free: 1-800-661-6988 Alberta, Saskatchewan & Manitoba Advertising Sales toll-free: 1-888606-6267. Canadian publications mail product sales agreement #40069240, GST #105655567. Copyright 2002. While every effort is made to ensure the accuracy of articles and advertising that appear in each edition of Western Investor, the publisher may not be held responsible for any errors or omissions that may from time to time occur. No part of this publication may be quoted or reprinted in any medium without the express written permission of BIV Media Limited Partnership.

ADVERTISING DEADLINE SEPTEMBER 2011 issue: AUGUST 15, 2010

FRANK O’BRIEN EDITOR wieditor@biv.com

Call Today For Your Management Proposal!!

NEED NOW !!! 5 - 15 million Shopping Centres

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

JUST COLLECT THE RENT! $2,125,000 Building approx, 5 years old, 12,566 Square Foot 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.

NEW LISTING $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 NEW LISTING 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!!

COMMERCIAL INVESTMENT $2,500,000 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

Lower Mainland A7

WESTERN INVESTOR AUGUST 2011 www.westerninvestor.com

For more information visit our website

Vancouver Office 604 687 7331 s

www.avisonyoung.com

s

FEATURED LISTING FOR SALE – 9005 Centaurus Circle, Burnaby s UNIT APARTMENT BUILDING WITH CONVENIENCE STORE MARKET s ,ARGE ACRE SITE IN 3IMON &RASER (ILLS NEIGHBOURHOOD s #LOSE TO SCHOOLS 3KYTRAIN AND ,OUGHEED 4OWN #ENTRE s 5NDERGROUND PARKING 3PC (SFFS "MFY .FTTJOB .BSL )BOOBI FOR SALE - 1430 Estevan Road, Nanaimo s UNITS s 'REAT SUITE MIX LOCATION s 0ANORAMIC OCEAN VIEWS 3PC (SFFS $ISJT 8JFTFS s .EW PRICE

SOLD – 6891 MacPherson Avenue, Burnaby s &REE STANDING BUILDING YARD AREA D s 2EDEVELOPMENT POTENTIAL L O S s #ORNER LOCATION

3ZBO ,FSS ,ZMF #MZUI

FOR SALE – 9781 186 Street, Surrey s ACRES IN PRIME 0ORT +ELLS LOCATION s ,IGHT )NDUSTRIAL ZONING s /UTSIDE STORAGE PERMITTED s BDSF

.JDIBFM 'BSSFMM +PIO &BLJO FOR SALE – 8424 Aitken Road, Chilliwack s ACRES ZONED AND SERVICED INDUSTRIAL s %XCELLENT ACCESS TO 4RANS #ANADA (WY s BDSF .JDIBFM 'BSSFMM +PIO &BLJO

FOR SALE – 1550 East Hastings Street, Vancouver s SF SITE CITY BLOCK W FT OF FRONTAGE s $IRECT EXPOSURE TO OVER VEHICLES PER DAY s $EVELOPMENT /PPORTUNITY n &32 s !LSO SUITABLE FOR OWNER USERS .BSL )BOOBI 3PC (SFFS

FOR SALE 10816 – 10840 124th Street, Surrey

FOR SALE – Royal Towers, 140 - 6th Street, New Westminster s UNIT APT BUILDING W GROUND m OOR 2ETAIL s

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

3PC (SFFS .JDIBFM ,FFOBO #BM "UXBM

s SF ON ACRES s (EAVY POWER CRANES TRUCK SCALE s 0ARTIALLY PAVED COMPACTED FENCED YARD .JDIBFM 'BSSFMM +PIO &BLJO

.JDIBFM 'BSSFMM (MFOO (BSEOFS

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

FOR SALE - Forest Hill Plaza - 8318-120th Street, Surrey s !PPROX SF 2ETAIL /Fl CE BUILDING s 0OTENTIAL TO ACHIEVE OVER CAP RATE s FT OF FRONTAGE ON 3COTT 2OAD s %XCELLENT EXPOSURE IN HIGH TRAFl C COUNT AREA s #BM "UXBM

SOLD – 8740 Greenall Avenue, Burnaby s 3OLD TO OWNER USER D L s "UILDING SIZE SF O S s ,OT SIZE SF ACRES .BUU 5IPNBT ,ZMF #MZUI

FOR SALE – 171 East 1st Street, North Vancouver

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

FOR SALE – 254 Royal Avenue, Kamloops

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

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

$ISJT 8JFTFS

s "RAND NEW STOREY STRATA OFl CE m EX INDUSTRIAL UNITS BUILDING 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

FOR SALE – #1 3180 262 Street, Langley

FOR SALE – 23665 Fraser Highway, Langley

s !CRES s SF /Fl CE 7AREHOUSE s #ENTRAL LOCATION %PVHMBT - .D.VSSBZ 3ZBO ,FSS FOR SUBLEASE – 610 Sixth Street, New Westminster

1BVM 1VSFXBM

FOR SALE – Unit 106 - 2567 192 Street, Surrey RT D U RE CODE LE R A O S

s UNITS MOSTLY ONE BEDROOMS s ACRES s -AJORITY OF SUITES RENOVATED s QFS TVJUF

$ISJT 8JFTFS

FOR SUBLEASE - 10387 Nordel Court, Delta

s SF OF OPEN PLAN /Fl CE SPACE s :ONING ALLOWS MANY /Fl CE USES s (IGH TRAFl C EXPOSURE s 1BVM 1VSFXBM s !CRES s # :ONED s &RASER (IGHWAY EXPOSURE s

s 0RIME ,OWER ,ONSDALE LOCATION s SF BUILDING s .BUU 5IPNBT ,ZMF #MZUI

s #OURT ORDERED SALE s &RONT EXPOSURE TO 3T s DOCK LOADING DOORS s SF OF 7AREHOUSE /Fl CE SPACE +PU .BUUV +PIO &BLJO

s SF OF RECENTLY IMPROVED /Fl CE SPACE s %XCELLENT AMENITIES FOR STAFF s !VAILABLE )MMEDIATELY s "UUSBDUJWF CFMPX NBSLFU +PTI 4PPLFSP SFOUBM SBUF

FOR LEASE – 320 Terminal Avenue, Vancouver s SF BUILD TO SUIT /Fl CE 2ETAIL BUILDING INDIVIDUAL m OORS AVAILABLE s 2EADY FOR OCCUPANCY MID s !DJACENT TO -AIN 3TREET n 3CIENCE 7ORLD 3KYTRAIN 3TATION s #OMPETITIVE LEASE RATES TENANT INDUCEMENT PACKAGES OFFERED

+PTI 4PPLFSP +VTUJO 0NJDIJOTLJ

A8 Lower Mainland/Services COMMERCIAL MORTGAGES ALSO, Industrial, Multi-Residential & Construction

LEAKY CONDO FINANCING Full Building Repairs, Upgrades & Remediation

BUSINESS LOANS Acquisitions, Expansion, Equipment & A/R

" , FOR ALL TYPES OF COMMERCIAL PROPERTY:

UĂŠ ÂŤ>Ă€ĂŒÂ“iÂ˜ĂŒĂŠLĂ•ÂˆÂ?`ˆ˜}Ăƒ UĂŠ ˆĂ?i`Â‡Ă•Ăƒi UĂŠ-ĂŒĂ€>ĂŒ>ĂŠĂ€iĂŒ>ˆÂ? UĂŠ ÂœĂŒiÂ?Ă‰Â“ÂœĂŒiÂ? UĂŠ ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ĂŠĂœ>Ă€iÂ…ÂœĂ•Ăƒi UĂŠ ÂœÂ˜ĂƒĂŒĂ€Ă•VĂŒÂˆÂœÂ˜Ă‰`iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒ >ĂƒĂŒĂŠ ÂŤÂŤĂ€ÂœĂ›>Â?ĂŠUĂŠ*Ă•Ă€VÂ…>ĂƒiĂŠÂœĂ€ĂŠ,iw˜>˜Vi The Origin Group — Mike Lee

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D L O S Typical commercial buildings with stable tenants offer about 6% CAP rates, and a return of approx. 9% on invested cash when purchase is made with new ďŹ nancing. A good investment while waiting for appreciation. Call for available investment properties.

VALEMOUNT / JASPER AREA B.C.

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

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

BILL BABCOCK 604-230-9392 BBabcock@telus.net Westhall Properties

m.m7430@gmail.com

* 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 ďŹ nancing $ 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 BRITISH COLUMBIA REGION

Jonathan P. Wong 604-331-2218

MORTGAGE FINANCING For all your real estate ďŹ nancing needs www.peoplestrust.com

PRAIRIE REGION

Dennis K. Aitken 403-205-8203

MOTELS

INVESTORS: We help you buy, then manage for a trouble free investment!

Matthew Moadebi 604-329-6771 (Cell)

Brian D. Kennedy 604-331-2211

www.westerninvestor.com AUGUST 2011 WESTERN INVESTOR

Daniel Stewart 403-205-8202

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

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:

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:

$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

A9

WESTERN INVESTOR AUGUST 2011 www.westerninvestor.com

FEATURE Sustainable construction and green design now inescapable for Western Canadian developers

and municipalities are also pushing the green movement. This is particularly true in Vancouver, which has the greenest building code in North America, and was named Canada’s greenest cities by Corporate Knights magazine at a ceremony by the Federation of Canadian Municipalities meeting this year, along with Victoria. Big private developers have already embraced the green message. The new Telus Garden project, a $750 million development on West Georgia Street will create half a million square feet of new office space and 500 residential units, all setting local standards for environmental sustainability. The 22-storey office tower will be the first building in Canada built to the new LEED platinum level, and the 44-storey residential tower will be built to meet LEED gold. Once complete, Telus’ new headquarters will feature 10,000 square feet of green roofs providing organic produce for local restaurants and two elevated-roof forests. Low-energy LED lighting on the western façade will project proTOP LEFT: Telus’ new $750 million Vancouver headquarters built to LEED gold and platinum grammable coloured images and film standards: 10,000-square-foot green roof will grow organic produce and feature two elevated onto the high-performance glazing. As “forests”. BOTTOM LEFT: Saskatoon: city’s first LEED gold office building is already 50 per cent well, the office building will be wired leased, though it won’t complete until 2013. RIGHT: Oxford Properties new 35-storey Vancouver with advanced telecommunications office tower: it is targeted for LEED gold certification with triple-paned glazing. technology to expedite the company’s daylight, better heating and cooling, and clean- building codes] has been to provide the very goal of having 70 per cent of employees worker air. This translates into happier tenants who minimum of standards – essentially address- ing at home or from off-site offices by 2015, in tend to renew their leases. ing life-safety issues, i.e., preventing buildings order to reduce greenhouse gas emissions. The US Green Building Council estimates from becoming lethal weapons. Up until 2008, Meanwhile in Richmond, SunLife Financial an upfront investment of 2 per cent in green energy really didn’t figure in the BC Building has built its first LEED gold office building, the building design, on average, results in life- Code beyond the basic requirement for insula- first of six Richmond projects to match the gold cycle savings of 20 per cent of the total con- tion.” standard. As well as energy-saving systems, the struction costs. Green buildings attract more Given that governments are seeking ways to building includes bicycle racks, preferred parktenants, can command higher rental rates and improve energy security and mitigate climate ing for low-emission vehicles, and a system to help both owners and tenants strut their green change, and that buildings are a significant filter storm water. credentials. source of greenhouse gases (about 55 per cent On Burnaby mountain, green has been taken Says Helen Goodland, executive direc- of Vancouver’s emissions are from buildings), to a whole new level with an entire neighbourtor of Vancouver’s non-profit Light House this is set to change. New building codes now hood aiming for LEED status at the 300-acre Please see Innovate page A10 Sustainable Building Centre, “The culture [of have entrenched green materials and practices,

hen Oxford Properties Group recently announced it would build a new 35-storey office tower downtown, it was not enough that the prolific Vancouver developer was beating other big builders to the punch in one of Canada’s hottest office markets: the building also had to be greener than any other tower in town. “This building will be iconic in its design, while setting new standards in efficiency, sustainability and tenant amenities. In our view, it is a statement about what work-life can and should become in the 21st century,” saidBlake Hutcheson, Oxford’s president and CEO. The 270,000-square-foot office tower, at 1021 West Hastings Street, will be the first in the city with an advanced variable refrigerant flow HVAC system – that uses a coolant rather than air or water – andwill be sheathed in energy-saving triple-paned glazing that costs at least 12 per cent more than conventional glass. The building is targeted Leadership in Energy and Environmental Design (LEED) gold for both the core and shell. (LEED certification, developed by the U.S. Green Building Council and supported by Canada Green Building Council, provides independent third-party verification that a building project is environmentally responsible and a healthy place to live or work. The more criteria a building meets, the higher it is ranked.) The upfront costs for sustainable features can be substantial, but as Oxford and other developers across Western Canada are discovering, going green is no longer an option. Building green confers benefits that can’t be ignored: reduced operating and maintenance costs, reduced environmental footprint and generally superior interior comfort – more

8

Photo: Oxford Properties Group

WESTERN INVESTOR

Photo: Colliers International

FRANK O’BRIEN

Photo Telus

-&&% PS CMFFE

-PXFS .BJOMBOE

DISTRESSED ARIZONA OPPORTUNITIES

75th Ave Bell Rd

IN OW ESCR

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

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

SCOTTSDALE AIRPARK OFFICE / HANGAR ±5,422 SF NOW PLACED UNDER $1M

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

D

SOL

IN OW ESCR

411th

Ave

IN OW ESCR

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

STEARMAN - CHANDLER NEW INDUSTRIAL FACILITY 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

www.westerninvestor.com AUGUST 2011 WESTERN INVESTOR

recycled material, and an efficient ventilation pond with dragonfly perches. system and non-off gassing materials for clean Buildings in the park are heated by a cityUniverCity development that has won interna- indoor air, among other green features. built, ground-based geothermal system that tional awards for its sustainable features. provides low-cost heating and air conditionThe sustainable project is sweeping in its (SFFO JO UIF PJMTBOET ing. design and practical in its application. Now Even in the midst of the Alberta oilsands, susToday, with 80 per cent of the 24 industrial home to about 3,000 people, with a maximum tainable standards are slowly winning con- lots sold out at prices averaging $1.25 million of 10,000 at build out, UniverCity allows verts. per acre – the highest such prices in Alberta – “suites within suites� mortgage-helpers in new In 2007, the Regional Municipality of Lutes’ green dream appears vindicated. condominiums, introduced deep-discount tran- Wood Buffalo, Alberta, which is anchored by “We only have three lots left, and they would sit passes for residents, and laid down a grid the oil-boom city of Fort McMurray, turned have been sold but the province wanted to put of environmental requirements that are now over 131 acres of former provincial Crown land in a new highway,� he says. The remaining sites incorporated in the streets, the commercial to the Wood Buffalo Housing & Development are back on the market, averaging 2.5 acres and and institutional buildings and the homes of Corp. (WBHDC) for a much-needed industrial priced from $4.8 million to $5 million each. the community. park. The corporation saw the land as an oppor- With little competition for industrial space, the Despite the green glitter and the market suc- tunity not only to raise money to build afford- prices will likely be achieved. cess, it is a lowly boiler, however, that may be able housing in Alberta’s fastest-growing city TaigaNova’s success has allowed the the heart of UniverCity’s sustainability. but also to develop a sustainable business cen- WBHDC to build some of the province’s The huge boiler system, from Corix Energy tre with an emphasis on green construction. greenest residential projects. According to Services, supplies the heat for all buildings at “‘Are you bloody crazy? It’s an industrial Lutes, these include 93 rental townhouses with UniverCity and, when converted to biomass park!’ That was the typical response,� recalls geothermal heating and a four-storey, 125-unit, next year, it will reduce greenhouse gas emis- Bryan Lutes, president of the WBHDC. “Most modular-built rental building that will use a sions by over 80 per cent across Burnaby developers just wanted to build tin and concrete combination of solar and geothermal systems. Mountain, equivalent to the emissions from buildings.� 935 homes or 2,100 cars. The bylaws for the TaigaNova Eco-Industrial 4BTLBUPPO -&&% Liberty Homes, which is building its second Park are green-tinged by any measure, but they In Saskatchewan’s largest city, Colliers sold-out condominium project at UniverCity, were revolutionary in Fort McMurray when the International has also found that LEED sells. has already seen the benefits of the boiler. Its project was unveiled. They provide for pedes- Colliers has already leased 50 per cent of the latest 104-unit building will not need a fur- trian and bike trails, sustainable landscaping first LEED gold office building in Saskatoon, nace, just hydronic radiant heating hooked to and a requirement that all buildings be at least a 63,846-square-foot five-storey building that the boiler lines. And Liberty has voluntarily 25 per cent more efficient than the Model won’t be complete until 2013. Covered mostly raised the green bar. National Energy Code for Buildings. They by high-performance glazing, it has unique-forLiberty development manager Jesse Nobbs- also include a recycling component during Saskatoon features such as 100 per cent fresh air supply. and an innovative heating systems Thiessen said the new condo building will construction. have planted green roofs, drywall made from There is even a stormwater-management that allows precise zone controls..◆

*//07"5& from A9

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

ERIC FUNG Amex - Fraseridge Realty

604 657 6448

READY FOR DEVELOPERS 130 + acres close-in to Edmonton. Good res.area- jobs nearby. Golden opportunity to develop now & be ready for the 2012 surge Surrey/Langley/Abbots. area sites for residential development (townhouses from 15 to 300). Quality land without obvious problems. Buy short-term holding acreages in the path of development progress now. Good land/good prices. Gain the rewards for your vision soon.

RAY LEWIS West Coast Realty LANGLEY

604-812-9733

Roaron Construction

CHILLIWACK AVIATION PARK UNITS FOR SALE/RENT

“Your One Stop Shop�

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

In-Town

$84,000 PER HOUSE $93,000 ANNUAL RENT FULL PRICE $939,000! For a full information package please contact: TELE: 1 604 783 1685 or EMAIL:

g_eldridge07@hotmail.com

Property

MagniďŹ cent Waterfront Acreage

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

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

Incredible Location! 132 acres just past

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

Ideal Agri-Business Opportunity

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

.% D;; H6A:

Purchase all or any portion you are comfortable with.

Oceanfront

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

www.roaron.com

Not quite, but 1/10th the cost of a similar investment opportunity in Vancouver. These 11 fully tenanted luxury homes in prime Phoenix, Arizona neighbourhoods are all priced at 1/3 of replacement cost.

1.3 acres with 16 storage bays, ofďŹ ce, 21’x41’ shop/bay with 3 phase power. Fully fenced, easy highway access, good exposure, room for expansion, just minutes south of Powell River. $369,000 with fantastic ocean view! Paved 33’ x 86’ lot on busy Marine Avenue among downtown restaurants, retail and service outlets. $109,900

604-888-7818

DEEDGIJC>IN

Multi-use Light Industrial Property

Ideal Commercial Building Site

Call Now or Email roger@roaron.com

PHOENIX, ARIZONA

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

Great Investment Property 30 acre

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

• Port Moody apartment building. Completely rebuilt: new plumbing, ooring, wiring, roof, cabinets, windows, etc. 32 huge suites (6 x 1bed, 22 x 2bed, and 3 x 3bed). Excellent building, good location, fully leased with good ďŹ nancing. 5.6% cap rate, $385,000 net. Price $6,550,000. • Island, Waterfront Hotel and Marina. Quality in a great Location. • Nanaimo, Waterfront Hotel, marina and condo site. $6,500,000. An existing income property plus 2 great development opportunities. • Squamish Hotel: 25 rooms + guest suite, pub, night club, cafĂŠ & retail. Upgraded. Makes good money! $2,588,000; $600,000 down + terms! • Squamish, Condo Site: 30 units, downtown. $1,450,000 + terms and/or possible joint venture available. Permit ready and fees paid. • North Vancouver, Apartment buildings: package of 2 x 12 suites at $4,250,000, and 11 huge suites (2/3 bedroom) $2,300,000 (+ others). • North Vancouver, holding development properties: (4 large SF lots with houses) ready for rezoning next to high rise developments, new Capilano Community Center and Retail Village/Town Center. • 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

WESTCOAST REALTY

Aroma's Gourmet Coffee & Lunch

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

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

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

Lower Mainland A11

WESTERN INVESTOR AUGUST 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 NIGHTCLUB BAR & GRILL (Kootenays) NEW LISTING The most successful club in the Kootenays with award winning lighting system. One of the largest licensed establishments in BC with popular restaurant grill. Business and property ........................................$1,750,000 CONSTRUCTION RELATED (Fraser Valley) NEW LISTING Specialized business within construction industry for 30 years. Over $1.6m in sales. Easy to operate .........$850,000 UNIQUE HOME IMPROVEMENT BUSINESS (Fraser Valley) NEW LISTING Manufacturer of custom designed sunrooms and patios sold directly to commercial and residential users ............................................................ $390,000 inc equip AWARD WINNING MILLWORK BUSINESS (Lower Mainland) FER Revenue in excess of OFUSA. Major clients in Canada and R UNDE $4.5m....................................................... $2.0m inc equip VANCOUVER DINNER CRUISE BUSINESS REDUCED In business for over 15 years operating two yachts from Downtown Vancouver. Nets $310,000 .. $1.85m inc yachts STRUCTURAL STEEL FABRICATING Over 15 years in business in construction Revenue forecast over LD SOindustry. $1m...........................................................................SOLD METAL FABRICATING COMPANY (Burnaby) Well established business with strong earnings history and healthy margins ........................................ $1.8m inc equip 2000 SQ FT RETAIL STORE IN HIGH TRAFFIC SOUGHTAFTER MALL The latest cookware, bakeware and kitchen gadgets from major international brands. Highly knowledgeable staff. Vendor will ensure smooth transition . ................................................................ $390,000 inc inv HAIR & BEAUTY SALON (Lower Mainland). Very successful full service beauty salon in trendy area. Sales over $460,000. 10 staff. No rentals ................................... $258,000 + inv INDUSTRIAL PROPERTY INVESTMENT (Delta) 44,366 sq.ft industrial facility in Tilbury. 1.62 Acres. Fully leased. 6.8% Cap rate ..................................... $4,390,000

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 SF s 2IVER 6IEW 3KYTRAIN s

SURREY CITY CENTRE

BBY/NEW WEST/COQUITLAM

s SF BUILDING s /FlCE 2ETAI 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 TO CHOOSE FROM s 3Q FT s 3MALL OFlCE s &RONT GRADE LOADING s -EZZANINE WITH ND WASHROOM ASKING $215,000 1958 SQ. FT. s &RONT CORNER UNIT s 3HOWROOM AND WAREHOUSE s -EZZANINE ASKING $324,900 RETAIL / OFFICE UNITS s (IGH 4RAFlC ,ANGLEY ,OCATIONS s 3UBLEASE /PPORTUNITY s SQ FT (OME !CCESSORIES 3HOWROOM s #LOSE TO #OSTCO ASKING $11.50 NNN 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 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 MEDICAL DENTAL SPACES s ,ANGLEY LOCATIONS TO CHOOSE FROM s SQ FT $ENTAL SPACE ASKING $16.00 NNN MEDICAL CLINIC – CLOSE TO HOSPITAL 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 MECHANICAL SHOP (North Vancouver) ,ONG ESTABLISHED SQ FT BAYS MECHANICAL SHOP IN VERY CONVENIENT AREA 'OOD LEASE ./) ................... $98,000 FURNITURE AND CUSTOM BUILT ARTWORK & ACCESSORIES 6ANCOUVER #ANADIAN MADE UNIQUE AND UPSCALE HOME DĂ?COR AND FURNISHINGS #ORNER LOCATION WITH PATIO AROUND AT VERY BUSY INTERSECTION 5NDERGROUND CUSTOMERS PARKING ..........................................Asking $280,000 + Inv. BLUEBERRY FARM (Abbotsford) 3ITUATED ON PRIME -ATSQUI mATS 4HIS WELL MAINTAINED FARM WITH NEW SQ FT HOUSE OFFERS MATURE "LUECROP AND $UCE 3ET UP FOR MACHINE PICK #OMPLETE DRIP IRRIGATION SYSTEM ..................................$1.98Mil

EQUIPMENT RENTALS Metro Vancouver s ,ONG ESTABLISHED s 6ERY 0ROlTABLE s &ULLY MANAGED s MIL ANNUAL SALES

$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 ..............................$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 $598,000 DOLLAR STORE FRANCHISE Fraser Valley 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 ./) 10 Suite Apartment Building, Chase s ,OCATED NEAR +AMLOOPS ON 3HUSWAP ,AKE "D 5NITS s !SKING Mobile Home Park, Kamloops s 'ROSS 2EV #AP 2ATE OF s !SKING Ace Self Storage, Kamloops s 'ROSS 2EV .ET 0ROlT s !SKING

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 UNDER CONTRACT 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 OfďŹ ce/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.

A12 Lower Mainland

www.westerninvestor.com AUGUST 2011 WESTERN INVESTOR

FOR LEASE OR SALE

Great Location on Kingsway, Vancouver Leasing:

FOR SALE

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

PORT COQUITLAM

$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

4 LOTS APPROVED FOR SUBDIVISON

$1,295,000

LANGLEY

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

FLEETWOOD

4 LARGE LOT SUBDIVISION

$1,499,000

c '$ -7$/(,& (,"*2#$0 14- . /"$*0 "-+./(0(,& "/$0 (, ##(1(-, 1- "/$ 4 1$/ *-1 c -1' 0(1$0 /$ (+./-3$# 4(1' !2(*#(,&0 "-,01/2"1$# %-/ 4--# "'(..(,& -.$/ 1(-,

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

MAPLE RIDGE

16 ACRES + LARGE HOME

$2,100,000

Please visit our website or call for more details.

monarkinvestments.ca

604-592-7250

Financing Available. Potential Trades.

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A13

WESTERN INVESTOR AUGUST 2011 www.westerninvestor.com

FEATURE B.C. entrepreneurs redefine real estate date sharing with unprecedented access, information

#FZPOE UIF .-4 WESTERN INVESTOR he multiple listing service operated by the Canadian Real Estate Association ( www.realtor.ca) remains the largest online real estate listing system in the country, but British Columbia realtors can now access the most advanced data delivery platforms in the country.

5

Available so far only in B.C., the services recently launched by New Westminster-based Landcor Data and Vancouver’s HQ Real Estate Services click real estate information delivery to a whole new level. Landcor’s service (www.landcor.com) is not a listing service but a market research tool, according to company founder and president Rudy Nielsen. Landcor purports to have the deepest and most sophisticated real estate information in the province. Its data base, for example, includes sales and permit history on all 1,912,211 titles in B.C. and it updates between 3,000 and 8,000 Land Title Office transactions every week. The system tracks every commercial and residential real estate transaction in the province, including private sales, family transfers, strata deals and new developments, as well as those on MLS. The assessments go back as far as 1991, and sales data to 1972, which is unique to Landcor. Also unique to its system is the ability to see actual lot boundary lines. When this upgrade is complete, a realtor with an iPad or iPhone could find the boundary markers while on a wooded acre in the Cariboo or building lot in downtown Nanaimo. The system’s search engine can find properties by address, property identification number, legal description or even by GPS. “This type of access, to so much information, is something that has never been available in

the past,” Nielsen said. Major banks, credit unions, mortgage insurers, large investors and other parties have long mined Landcor’s data. Realtors can now access the same data, plus use a custom search engine that will locate properties by virtually any variable, from the assessed value to the square footage to whether it has a view or a swimming pool. The monthly subscription for residential realtors ranges from $15 for 30 property searches and reports to $20 for 50 properties, or virtually unlimited RIGHT: David England of HQ Realty Services: “People want to see listings, not flash.” LEFT: Landcor reports for $30. The service Data’s web page. “This much information has never been available before.” is not available to the general residential listing service in B.C. public. which are normally not publicly released. The entire system will be updated every “It turns any realtor into an instant expert on HQ Real Estate Services, a Vancouver comquarter with new features, which are auto- any property or area in the province,” Nielsen mercial brokerage, teamed up withEco Realty matically added at no charge for subscribers, said. Inc. in creating www.ecorealty.ca, which it Nielsen said. Within 90 days, Nielsen said Landcor will launched this year with Grant Wilson, a forAs Nielsen explains, a realtor could view launch a similar service for commercial real- mer realtor and now CEO of Eco Realty. A free the 10 most recent sales in an area, tour the tors that will add some specific features. For open-access service, it covers both residential subject property and its environs through the example, a commercial realtor could sit with and commercial listings with an elegant and Microsoft BING mapping system, see property a client in Hong Kong and find every vacant powerful search engine. “People want to see listings, not flash,” said assessments, and even get a property evalua- retail-zoned lot in Kelowna along with recent tion report that suggests an uncannily accurate sales and price information on the entire mar- David England, CEO of HQ. The MLS system used by most real estate listing price on the property. (When we ran a ket. “That realtor would know more about the test, the suggested price was within $2,000 on Okanagan market than an Okanagan realtor,” companies includes a voluntary reciprocity program that allows listing information to be an actual $531,000 sale.) The data also includes Nielsen said. graphs for individual neighbourhoods, showing As far as Nielsen is concerned, the real estate shared with other companies. Eco Realty’s web sales and price activity for any period of time industry is quickly evolving into two sectors: page takes that further, including both MLS in the past 20 years. It can spit out an entire those realtors with instant access to the hottest and exclusive listings from their own realtors customized report in about eight seconds. information and those without. And the latter, and other companies. The businesses operate out of two Vancouver It can also be used to automatically track a he says, are in trouble. locations with 47 brokers, including such wellportfolio of properties, for example a realtor’s listing portfolio, showing which neighbour- )2 3FBM &TUBUF 4FSWJDFT known names as apartment brokersDavid and What started as a recruitment campaign and Mark Goodman. hoods are going up or down in value. The premise is simple: post lots of listings A sweet advantage with the Landcor sys- lead generator has evolved into perhaps the Please see Access page A14 tem is that it tracks all new development sales, most sophisticated online commercial and Photo: Domiinic Schaefer.

FRANK O’BRIEN

-PXFS .BJOMBOE

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A14 Lower Mainland

Profitable Business

www.westerninvestor.com AUGUST 2011 WESTERN INVESTOR

Chicago's Artscape

Asking $500,888 for business and equipment

• 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!

Contact

Michelle Watson 480-326-9520

KEN 604-838-0985 Ken@me.com

michelle.watson@marcusmillichap.com

Excellent ROI. Business is in its 9th yr. Owner will stay on for up to 3 months.

Islands Private FOR SALE FOX ISLAND Exciting 46 acre island Cottage, dock and approved 6 ocean lots subdivision with drilled wells etc $5.6 Mil.

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

GREAT PERSONAL INVESTMENT OR GROUP PURCHASE

View BCPRIVATEISLANDS.COM

they’ve gone through the existing inventory With more than 2,000 visitors a day spending and generate leads from the online response at an average of 10 minutes on Eco Realty’s site, www.ecorealtyinc.ca and each visitor viewing about 18 listings per The listings make as much information as visit, the site excites consultants such as Ben possible available to online search engines, Nyland, president of Rampworth Capital while inquiries from prospective clients are Services Inc. in North Vancouver. quickly routed to the responsible HQ broker. Nyland helped develop financial projections The finely-tuned search engine is fast and for Eco Realty and developed the pitch England easy, but apparently doesn’t have all the pos- and Wilson made to the venture’s initial invessible listings. In a test we found there are only tors, who have since anted up $2 million. 19 “fixer-upper” homes priced under $357,000 “It’s a very promising company,” Nyland for sale in the Metro Vancouver, far fewer than said. “They’re going to change the way comwhat is probably on the market. In others we mercial real estate is done in Vancouver.” found 151 industrial strata units for sale; and While most franchise real estate companies 14 two-bedroom Vancouver condos that allow place tight control on information, England and rentals and were priced under $900,000. Wilson’s mantra is to put everything up online There are some geographical limitations: and work in cooperation. HQ so far covers the Lower Mainland and “What Eco Realty and HQ are bringing is Whistler, but does not include Vancouver a really solid understanding both of how the Island or Interior listings. web works, in terms of how people are searchWilson, who has a clear aptitude for software ing, as well as ... how the real estate industry development, knows buyers are looking for prop- works,” Nyland said. “They’re doing a great erties, not realtors, when they go online. But the job of bringing the two together in a way that software underpinning Eco Realty ensures cus- just naturally fits with the way people want to tomers reach the brokers who can handle them find real estate and do business.” with less hassle. That speeds deal velocity. England said upgrades are continually being “What we’re trying to do is lower our con- added, including the recent addition of video version ratio,” Wilson explained. “We’re now tours of commercial property, which HQ prodown to about 68 [visits per lead], and we think vides at no charge to those listing on the site. we can get it down to about 55 visits for one The site is already wired into social media, lead.” Right now, the site generates about 300 so listings can be monitored or added on the fly leads per month for HQ brokers. “This is the future of real estate,” England said, The site also features a feed of new listings, “The old franchise model is dead.”◆ which is what people are looking for after – With files from Peter Mitham

"$$&44 from A13

WARK REALTY INC. 604.946.8710

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

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

Homelife Glenayre Realty

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

Phone

604-576-9285

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

www.homelifebc.com

GAS STATION WITH LAND & BUILDING $2.8 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 $1.85M 2 MORE GAS STATIONS WITH LAND AND BUILDING (LOWER FRASER VALLEY AND UPPER FRASER VALLEY) $1.99 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

A15

WESTERN INVESTOR AUGUST 2011 www.westerninvestor.com

fund’s investment income would be needed to estate, particularly office and retail investments (see sidebar). In all, real estate accounts for 7.3 help pay benefits. per cent of the board’s total portfolio. In his latest triennial review completed in 4UFMMBS SFUVSOT After a couple of rough investment years in November 2010, the chief actuary reaffirmed 2008 and 2009, the CPPIB earned investment that the CPP remains sustainable for at least the returns of almost 15 per cent in 2010 and almost next 75 years. 12 per cent in 2011 (the 10 year annualized rate With all the other things we have to worry of return is presently 5.9 per cent). In those two about, it seems that a pending cut to our anticifiscal years, total investment income of $31.7 pated CPP benefits isn’t one of them. So, I think billion was generated. we can safely eliminate stress over the future What kinds of assets does the CPPIB own? of our public pension plan as a contributing Would you have guessed it owns interests reason to Vancouver’s own recent riots.◆ in (among many other things): two prime incorporated as a federal Manhattan office buildings; a new 1.9 million- Robert Smithson is a labour and employment ews media are awash with coverCrown corporation in 1997 square-foot retail and entertainment development lawyer, and operates Smithson Employment age of riots in the and made its first investment in next to the 2012 London Olympics site; the 407 Law in Kelowna. For more information about streets of Greece, a general 1999. Much useful information Express Toll Route outside Toronto; a toll road in his practice, visit www.smithsonlaw.ca or strike in England, and news is available at www.cppib.ca. Sydney, Australia; an industrial facility in Hong phone 778-478-0150. This subject matter is of impending budget gutting Kong; and a shopping centre in Germany? provided for general informational purposes in Italy. Common to all three The CPPIB is also deep into Canadian real only and is not intended as legal advice. # GVOE countries’ situations is the According to its website, the word “austerity� and at risk CPPIB’s purpose is to invest $11*# SFBM FTUBUF IPMEJOHT in all is the stability of public the CPP’s assets in a way pension plans. that maximizes returns withCPPIB has further committed $200 milxford Properties is one of Canada’s In England’s case, the out undue risk of loss. As a largest real estate companies and a lion toward the development of two r etail increase in the official retirefiduciary acting on behalf of wholly owned subsidiary of the Ontario power centres in Toronto and Calgary on a ment age was accompanied by 17 million contributors and ROBERT SMITHSON Municipal Employees Retirement 50/50 basis and 37.5 per cent of one retail announcements of cuts to state beneficiaries, the CPPIB’s System (OMERs). The Canada Pension power centre in Calgary. retirement benefits. The trend of increasing the investment objective is to help ensure the In 2008, the CPPIB paid $113.5 million Plan Investment Board has invested in a official age of retirement has swept up many sustainability of the CPP by designing a 50 per cent interest with Oxford in a port- for the Hillside Centre in Victoria, owned European countries and, at least in some cases, portfolio to address the CPP’s projected folio of 11 office and retail properties in six by the Ontario Pension Board. a shortfall in funding for public pension plans liabilities and by investment activities that “Hillside Centre represents our first major Canadian cities totaling 8.2 million is a good part of the reason. enhance risk-adjusted returns. investment in Victoria and increases our square feet. Raising the retirement age has, it seems to The CPP’s assets comprise both investLandmark properties in the portfolio presence in British Columbia,� CPPIB viceme, two impacts on public pension coffers. ment returns and ongoing contributions from include the Royal Bank Plaza in Toronto, president Peter Ballon said. First, by having people work an extra year or employers and employees. In a separate transaction, the board paid Canterra Tower in Calgary and Constitution two before throwing in the towel, employee Investments held by the CPP fund include Square in Ottawa, and Oxford’s new 35-sto- $222 million to Osmington Inc. to increase and employer contributions into the plan are equities, fixed income (primarily government rey office tower being built in downtown the CPP’s stake in seven other malls across increased. Second, by delaying individuals’ bonds), and inflation-sensitive assets (real estate, the country, whose total leasable commerVancouver. eligibility to receive benefits payments, future infrastructure and inflation-linked bonds). RioCan Real Estate Investment Trust cial space adds up to 5.4 million square payouts are decreased. The CPPIB reports on the performance and (RioCan) is one of Canada’s largest REITs feet. With this transaction, CPPIB owns 100 My guess is that we can expect to see the market value of the CPP fund on a quarwith ownership interests in more than 196 per cent of the Pine Centre mall in Prince more news of public pension shortfalls in terly basis. The most recent figures put the total retail properties totaling more than 46 mil- George, plus assets in Ontario. European countries. But what about here value of the CPP fund at $148.2 billion (comCPPIB’s real estate portfolio is valued at lion square feet of space. CPPIB has comat home – what is the state of our Canada prising both investment returns and employer/ mitted to acquire a 50 per cent interest more than $8 billion, nearly half of which Pension Plan? employee contributions). in three retail power centres in Oakville, comes from Canadian-based assets. The funds of the Canada Pension Plan are han- Canada’s Chief Actuary estimates that CPP This year, the CPPIB also bought stakes Calgary and Edmonton from RioCan and dled by the CPP Investment Board (CPPIB) contributions from employers and employees related parties. The total purchase price is worth more than $700-million in shopping – a professional investment-management will exceed annual benefits paid out through malls located in the U.S. and Germany. approximately $190 million. organization based in Toronto. The board was until 2021. Thereafter a portion of the CPP

Trust real estate investments? Good. So does the Canada Pension Plan Investment Board

1SPQFSUZ BOE ZPVS QFOTJPO

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-PXFS .BJOMBOE

MOTELS

VALEMOUNT / JASPER AREA B.C.

33 SUITE APARTMENT BLDG

s 0RESENTLY FRANCHISED AFl LIATED "EST BUY UNIT -OTEL PLUS SEAT RESTAURANT LOUNGE /N PRIME 9ELLOWHEAD (WY .O 4RUCK STOP LOCATION AND EXCELLENT FRONTAGE !SKING $4,888,888 REDUCED TO $3.98 Million !PPROX TO #!0 RATE FULLY RENOVATED PRIME LAND ON ACRES 0OSSIBLE TO FRANCHISE 4O (OLIDAY )NN %XPRESS OR (AMPTON )NN

1835 McLean Drive, Vancouver BC Far Below Market Rents

s (OLIDAY )NN 2ESORT ,OCATION -ILLION s (OLIDAY )NN %XPRESS )NTERIOR -ILLION s "EST 7ESTERN "# )NTERIOR -ILLION s /KANAGAN $RIVING 2ANGE -ILLION s "URNABY -OTEL -ILLION s ! 7 ,OCATIONS AVAIL STARTING AT s $OWNTOWN 6ANCOUVER (OTEL -ILLION s "URNABY "# -OTEL -ILLION NEW WO R L D R EA LT Y

Contact: NEAL IVERSON

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

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

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

Denny’s Restaurant

$695,000

Greater Van

business

Industrial Warehouse/OfďŹ ce

$1,495,000

North Vancouver property

MEHRAN MOALLEM

4 plex Multi family

$1,295,000

Downtown Van

property

Industrial Warehouse

$350,000

Mission

property

B.Elec. Cert. Marketing

Donair Shop

$68,000

Port Coquitlam

business

Hair Studio

$69,900

Coquitlam

business

Business and Commercial Consultant

Donair Shop

$59,000

Pitt Meadows

business

Cabinet Mftg., property

$1,189,000

Port Coquitlam

property

Allegra Print & Imaging

$100,000

Surrey

business

Strata commercial

$499,000

Coquitlam

property

$559,000

Surrey

business

778-858-9025 mehranmoallem@gmail.com

WANTED!

YOUR BUSINESS, DEAD OR ALIVE! I have clients for it. I EVALUATE, PRICE, MARKET AND SELL! RE/MAX CITY COMMERCIAL DIVISION

Lounge & Steak House

$379,000

Main, Vancouver

business

Indoor Amusement park

Fast Food Restaurant

$49,000

Langley

business

Video Store/ Cell phone Dealer $49,000

Coquitlam

business

Oxford Learning Centre

$129,000

Langley

business

Laptop Battery Online retailer $499,000

Coquitlam

business

Auto Body Shop

$139,000

North Vancouver

business

Fat Burger

$900,000

Greater Van

business

Mexican Restaurant

Coming soon Vancouver West

business

Glass Fabrication Business

$1,189,000

Coquitlam

business

Video Prod. & conv.

$79,000

North Vancouver

business

Day & Knight Restaurant

$499,000

Greater Van

business

Sign Shop

$59,000

Vancouver East

business

38 Acre Hotel Site

$4,200,000

Britania Beach

property

www.BondedBusinessBrokers.com

A16 Lower Mainland

www.westerninvestor.com AUGUST 2011 WESTERN INVESTOR

Rare Opportunit FOR SALEy

INVESTOR ALERT

Macdonald Commercial Real Estate Services Ltd.

14.7 Acres Close to City

Lotto 649, Turn 4.9 mill to 12.5 + mill, 18 lot subdivision zone SR-1 zoned for 1 acre in Langley BC, New sewer line is only a couple block away, this property is fl at, gravel based, 10,000 sq ft building has potential income, only asking $4.9 Mil, email for details. 31 acres blueberry farm with 8 bed rm house 15 year old plant, last year crop was over 250,000.00 only 3.2 mill.

FRASER VALLEY PROPERTIES | VIC SANDHAR & MIKE GREWAL PREC UÊ,ÕÀ> ÊÃiÌÌ }]Ê ÌÊ Ê ,]ÊÌÀii`Ê>Ài> UÊ-ÕL ` Û `>L iÊÌ Ê Õ Ê ÌÊà âiÊ vÊ{Ê>V UÊÎÊëÀ } vi`Ê >ÌÕÀ> Ê > ià UÊÊ > ÞÊÕÃiÃ\Ê E ]Ê,ià `i Ì > Ê >Ài]ÊÊ *À `ÕViÊ-> iÃ]Ê V Ãi`Ê-Ì À>}i]ÊÊ iÊ"VVÕ«>Ì ]ÊiÌV

Great investment 16.44 acres blueberry farm with 7200 sq ft new house made for 2 family only 2.5 mill. 5 acres out of ALR with over 8547 sq ft house and 2nd house have B & B potential income from 2nd property over $4500.0 per/ M, asking $3.9 mill.

FOR SALE

FOR LEASE

7767 128th St., Surrey

20178 96 Ave., Langley

$798,500 bring your offer For more Information please visit

www.KafkaRealEstateTeam.com

AMARJIT GILL

TRUDE KAFKA cel: 604-791-1304 email: trudek@smartt.com

604-614-7101 Global Force Realty

Sutton Group Showplace Realty Ltd.

Distribution Warehouse

•

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 •

29352 FRASER HWY, ABBOTSFORD:

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

574 SUMAS WAY, ABBOTSFORD:

7.9 acres of agricultural land Asking $949,000 •

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.

± 27,000 sq. ft. high exposure retail/commercial redevelopment site Asking $1,750,000 •

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.

20178 96th AVENUE, LANGLEY:

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

Various sized units available

•

Occupancy: Fall 2012

Excellent location near major highways in Langley, BC

•

Retail units also available, including one drive-through location

•

•

Lease rates starting at $17.50

FOR FURTHER INFORMATION ON THESE FRASER VALLEY SALE OR LEASE OPPORTUNITIES, CONTACT: VIC SANDHAR | 604.590.2444 vsandhar@macrealty.com

5128 184th STREET, SURREY:

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

MIKE GREWAL PREC | 604.590.2444 mgrewal@macrealty.com

COURT ORDERED SALES | BRIAN TATTRIE & GARY KHAN •

Chilliwack Apartment

8220 120th STREET, SURREY:

•

•

2 retail strata units, Langley: $599,000 REDUCED: $569,000 Office Building, New Westminster: $1,450,000 REDUCED: $1,400,000 CONTACT: BRIAN TATTRIE - 604.714.4783 | GARY KHAN - 604.714.4799

FOR SALE: KAMLOOPS BOUTIQUE HOTEL | BRIAN TATTRIE •

Kamloops 67-room boutique hotel CONTACT: BRIAN TATTRIE | 604.714.4783 | www.briantattrie.com

Corney Les

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

604-795-6938 •

RE/MAX Corney Les Realty www.morechilliwackrealestate.com

•

Land, building & business for sale Approx. 10 acres in ALR. List Price: $1,975,000 PRICE REDUCED: $1,799,000 CONTACT: GARY KHAN | 604.714.4799

FOR SALE: KOOTENAYS FURNITURE & APPLIANCE STORE | ALI MOHSENI

UNIQUE

•

BED & BREAKFAST

•

OPPORTUNITY

• •

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 PROPERTIES | BOB SCRAGG FOR SALE

FOR SALE

3075 Willow, Vancouver

•

•

Elevator

•

•

11 underground parking

½ acre industrial land next to Author Liang Bridge

•

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

•

•

3 Blks to VGH & 1 Blk. to Shaughnessy

16,000 sq ft freestanding warehouse/offices

•

Ground floor units, 2-storey twnhse with outside entrance

•

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

•

Fireplaces in all units

•

List Price: $3.6M

•

In-suite laundry

•

Most units incl. 2 bath & hardwood

•

List Price: $3.85M

Warehouse/Showroom/Office

8 units 17 years old Apartment Blg.

~ F1109608

Beautiful 0.5 Acre Vineyard View Lot Unique layout Over 7200 SQ. FT. Residential home over 3400 sq ft Bed & Breakfast over 3400 sq ft 4 Luxurious Suites, with Full Ensuite Facilities Ideal opportunity close to airport & freeway

Steve Kooner or Tom O’Hara 604-859-2341 9-2630 Bourquin Cres W Abbotsford BC V2S 5N7

1275 W. 75th Ave, VANCOUVER:

3075 WILLOW, VANCOUVER:

•

29438 Simpson Road, Abbotsford

1275 W. 75th Ave, Vancouver

CONTACT: BOB SCRAGG | 604-714-4771 | bscragg@macrealty.com

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

WESTERN INVESTOR AUGUST 2011

63 UNIT APARTMENT in Thunder Bay, ON - $2.45M

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

Call Ralph: 807.623.2333 stjarre@tbaytel.net

Lower Mainland/ Sea to Sky/Sunshine Coast A17

SQUAMISH INVESTMENTS

Mattu Realty

CAMBIE CORRIDOR APARTMENT SITE s ,OT ASSEMBLY s #LOSE TO /AKRIDGE #ANADA ,INE s FRONTAGE X APPROX s #AMBIE 0LAN ALLOWS &32 -AX s STOREYS ALLOWED s -AX BUILDABLE AREA n FT s )NFO PACKAGE AVAILABLE

For more information call

Savey Mattu SAVEYMATTU HOTMAIL COM

10 PRIME ACRES FOR SALE

Retail/Office Strata 872 sf with retail ďŹ nishing $199K

Pub & Real Estate - 4000 sf on over 1/2 Acre 163 seat & BW allowed, redev. potential $735k

I-1 Revenue Property 0.55 Acre, tenants $1.19 Mil

Prime Retail For Lease 1,200 – 15,000 sf B Park by National Retailers and Hwy 99! Spring 2011

1.1 Acre Duplex Site on Creek Includes house, green space $699k

Mixed Use Building Downtown $67K Potential net income $869K

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

",ĂŠ- ĂŠfĂŽĂˆÂ™]™ää UĂŠ2 BEDROOMS / 2 BATHROOMS

JORDAN ENG

Ryder Lake

UĂŠAPPROXIMATELY 900 SQ FT

(604) 728-0883

Southern exposure, building sites, ample water, power & telephone at lot line, fully fenced, partially cleared, good views, zoned R but has farm status. Peaceful & serene but only minutes from all amenities. Asking $499,900.

UĂŠOVER 1 ACRE LAND PARCEL

jordaneng@telus.net

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

Cathy Reimer

5 year new lease. Extensive renovations Large 3 bdrm suite upstairs Asking $1,725,000

604.858.7179

UÊ1/16 OWNER OF 80 ACRES OF COMMON PROPERTY UÊ100’ SHARED DOCK / MARINA UÊBEST CRABBING AND PRAWN FISHING AROUND! MCNAB CREEK -

APPROX. 20 MINUTES VIA BOAT TO SQUAMISH, HORSESHOE BAY OR GIBSONS! NESTLED ON THE SHORES OF HOWE SOUND, OVERLOOKING A BEAUTIFUL ESTUARY WITH SANDY BEACH. SOAK IN THE 6’ WOOD - FIRED HOT TUB. IDEALLY SITUATED TO ENJOY STUNNING OCEAN VIEWS. PERFECT OPPORTUNITY TO PURCHASE A REVENUE GENERATING INVESTMENT, FAMILY RETREAT, OR A SERENE OASIS TO SIMPLY UNWIND AND RELAX. FURNISHINGS INCLUDED. OPTION TO PURCHASE A HALF (50%) INTEREST IN THE PROPERTY FOR $190,000.

Martin Sprenkels Nyda Realty

ING

IST

L NEW

*ĂŠĂˆä{‡™äx‡nxĂ“xĂŠNĂŠ ĂŠ ,/ °-*, -J /1,9Ă“£° 777° ,/ -*, -° "

INCOME PRODUCING INVESTMENT! NATIONAL TENANTS

GLENN YAMADA PERSONAL REAL ESTATE CORPORATION CELL: 604-240-2749 EMAIL:

g-yamada@shaw.ca

COMMERCIAL AND RESIDENTIAL REAL ESTATE SINCE 1989

Court Ordered Sale D UCE 1251-1271 Homer St. RED

Downtown development site. 75' x 122' Asking $5,950,000

Restaurant For Sale Coppertank Grill 3835 Main St Newer Restaurant, sports bar 96 Seats, live music venue Long term lease. Asking $399,000

East 6th Ave & Main 100' x 120'. Available immediately.

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

45150 Luckakuck Way, Chilliwack

Performance Realty & Management

New Dairy Queen Grill & Chill Free standing 3000 sq/f with drive thru

Value Village, House 2 Home Furniture, End of the Roll Carpet Buildings 49,432 sq.ft. Escalating Leases, great short-term increases. Excess land provides room for more building on the site.

GOURMET MEAT SHOP $229K

UĂŠĂŠ ĂƒĂŒ>LÂ?ÂˆĂƒÂ…i`ĂŠÂŁĂ“ĂŠĂži>Ă€Ăƒ°ĂŠ-Ă•ÂŤiĂ€ĂŠĂŒĂ•Ă€Â˜ĂŠÂŽiÞÊ LĂ•ĂƒÂˆÂ˜iĂƒĂƒ UĂŠ Ă€i>ĂŒiÀÊ6>˜VÂœĂ•Ă›iÀÊ>Ă€i>‡Ê}Ă€i>ĂŒĂŠÂ?ÂœV>ĂŒÂˆÂœÂ˜ĂŠ UĂŠ6iÀÞÊÂ?ÂˆĂŒĂŒÂ?iĂŠVÂœÂ“ÂŤiĂŒÂˆĂŒÂˆÂœÂ˜ĂŠĂ‰ĂŠ ˜vÂœĂŠ*ÂŽ}°ĂŠ>Ă›>ˆÂ?>LÂ?i UĂŠ->Â?iĂƒĂŠfĂˆää ÊÉÊ iĂŒĂŠĂŒÂœĂŠÂœĂœÂ˜iÀÊfÂŁÂŁx UĂŠ Â˜Ă›iÂ˜ĂŒÂœĂ€ĂžĂŠÂ˜ÂœĂŒĂŠÂˆÂ˜VÂ?Ă•`i`ĂŠ­fĂ“ä ĂŠĂŒÂœĂŠfĂ“x ÂŽ

$8,888,000 (6% Cap Rate)

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

NEW!! VETERINARY / MEDICAL SURGICAL INSTRUMENT SUPPLIER $350K

UĂŠ ĂƒĂŒ>LÂ?ÂˆĂƒÂ…i`ĂŠÂŁĂ“ĂŠĂži>Ă€ĂƒĂŠĂ‰ĂŠĂƒÂœÂ?ˆ`ĂŠVÂ?ˆiÂ˜ĂŒĂŠL>Ăƒi UĂŠĂŠ ĂƒĂŒ>LÂ?ÂˆĂƒÂ…i`ĂŠ ÂœÂ“ÂŤ>Â˜ĂžĂŠ Ă€>˜`ĂŠ >“i UĂŠĂŠ LĂƒiÂ˜ĂŒiiĂŠÂœĂœÂ˜iĂ€ĂŠĂ‰ĂŠĂ“ĂŠĂƒĂŒ>vvÊÉÊÂ?ÂœĂœĂŠÂœĂ›iÀ…i>`ĂŠĂŠ UĂŠ7iLĂŠĂƒÂˆĂŒiĂŠ>˜`ĂŠ >ĂŒ>Â?Âœ}Ă•iĂŠÂˆÂ˜VÂ?Ă•`i`ĂŠ UĂŠ Â˜Ă›iÂ˜ĂŒÂœĂ€ĂžĂŠ ÂœĂŒĂŠ ˜VÂ?Ă•`i`ĂŠ­f£ää ĂŠĂŒÂœĂŠfÂŁĂ“ä ÂŽ UĂŠ{ĂŠ9i>ÀÊ Ă›iĂ€>}iĂŠ `Â?Ă•ĂƒĂŒi`ĂŠ iĂŒĂŠfÂŁĂ“ÂŁ UĂŠ Ă?ViÂ?Â?iÂ˜ĂŒĂŠiĂ?ÂŤ>Â˜ĂƒÂˆÂœÂ˜ĂŠÂŤÂœĂŒiÂ˜ĂŒÂˆ>Â? NEW!! BUSINESS AND BUILDING TROPHY ENGRAVING BUSINESS

Parking Lot For Lease

QUALITY SERVICE QUALITY HOMES QUALITY PEOPLE

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

$3,880,000

RE/MAX Progroup Realty

fraser elliott 604.728.2845 fraserelliott1@gmail.com

marketing your franchise? Call the

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

s ,OCATED IN ONE OF 3URREY S MOST DEVELOPING AREAS HWY s 9EAR LEASE Call Gary Gill 604-837-6575

LORNE CHERNOCHAN 604-880-0550 (cell) lorne@chernochan.com www.chernochan.com CALL OR EMAIL FOR A FULL INFO. SET NORTH RICHMOND LAND 3 ADJOINING PARCELS = 41 ACRES 2 STREETS FRONTAGE = 777 FEET AREA = INDUSTRIAL + GOLF + ALR $7,980,000 ***************************************************************

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

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

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

lorne@chernochan.com www.chernochan.com WESTCOAST

A18 Vancouver Island

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www.westerninvestor.com AUGUST 2011 WESTERN INVESTOR

•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

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Priced to Sell! only $199,000

Trina Koprich Email: greyling242@gmail.com

P: 905.331.1825 F: 905.331.0499

www.westerninvestor.com

4671 McLeod Rd, Burlington. ON L7M 0E4

Each office is independently owned and operated.

Bethel Care Centre - Brand new 82,000 sq.ft. unoccupied building with 3 components: 41,300 sq.ft. church & multi-purpose community centre with 59 parking stalls, 38,500 sq.ft. 81 bed seniors extended care facility, 2,200 sq.ft. Daycare Licensed for 25 children. mls® 296419 $15,900,000

Michael McMullen RE/MAX Camosun 250-881-8225

☞

Agents:

REACH QUALIFIED BUYERS FOR YOUR LISTINGS

UÊ /Ê 1-/, Ê-/, / ÊÊ ³É £xääÊ-+Ê / Over 20' ceilings 2 full storeys allowed. .............. $274,900 UÊ Ê-/", Ê " * 8 ....$2,299,000 UÊ nnääÊ-+Ê /Ê, / É" Ê -"

............................................... $1,395,000 UÊ £]ÓääÊ-+Ê /Ê£n¿Ê ÊÊ°°°°°°° $149,900 UÊ , / É" É /Ê 1-/, ÊÊ SPACES FOR LEASE fn°ääÊqÊ£{°ääÉõÊvÌ UÊ Ê+1 /9Ê-/, / Ê" ÊÊ Ê Ó]{ääÊõÊvÌÊ .....................................................$629,000 UÊ -/, / Ê" Ê ",Ê- Ê 2nd floor vacant 2,200 sq ft ... $249,900 3rd floor leased 2,200 sq ft ...... $254,900

Joel Schacter RE/MAX Treeland 604-533-3491

Attention

VANCOUVER ISLAND Comox Valley

☞

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

UÊ Î]ÈääÊ-+Ê /Ê, / Ê 1 Ê On .28 ac, Comox ................... $925,000 UÊ ÇÊ1 /Ê */Ê " "8Ê Zoned for 14 Units ................... $850,000 UÊ Î]äääÊ-+Ê /Ê, / Ê 1 Ê On ½ ac, Courtenay ................. $925,000 UÊ £]{ÈäÊ-+Ê /Ê, / Ê 1 Ê On .23 ac, Cumberland ........... $480,000 UÊ°Ç£Ê Ê "7Ê, - Ê */Ê- / Ê°°°°° $850,000 UÊÊÎÎääʳÊ-+Ê /Ê Ê "1,/ 9ÊÊÊ ÊRetail/Office/Warehouse (Strata)ÊfÎÓx]äää

Rob Samsom

AACI CCIM FRI PERSONAL REAL ESTATE CORPORATION

1-888-829-7205 www.robsamsom.ca

RE/MAX Ocean Pacific Realty

Each office is independently owned and operated.

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A19

WESTERN INVESTOR AUGUST 2011 www.westerninvestor.com

COVER Comox Valley chosen for largest real estate project on Vancouver Island, plus a new $30M resort

Zoning also allows for more than 800,000 square feet of shops and services, including a hotel and casino. A new regional hospital for the Comox Valley is also planned for Cayet. The Cayet site is former forestry land, and the final development will retain 50 per cent of the land as green space. A Coast Visitor Discovery Centre is currently the only building underway on the site. Evans expects construction of the first phase of Cayet to start early in 2012.

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Photo: Triology Corp.

“The Comox Valley represents the most affordable land prices in B.C.,� said John Evans, president of Trilogy Corp., who has been inviting other developers and home builders to join in Trilogy’s 719-acre Cayet development at Cumberland, just west of Courtenay. The development plan calls for a huge shopping centre, office and institutional space and thousands of new homes. Evans, who once led the development of Whistler Village, said land values in the Comox Valley are less than anywhere south of Nanaimo on the Island, and “much lower� than in the Lower Mainland or the Central Okanagan. Cayet evolved from the fact the village of Cumberland was the only island municipality that refused to sign an agreement to provide a 300-metre (1,000-foot) commercial set back from the Island Highway when it was built a decade ago. The province had requested the setback to deter signage and strip malls along the highway that runs down the centre of the island from Nanaimo to Campbell River. As a result, Trilogy is allowed to build along nearly three kilometres of highway frontage at Cumberland and about two kilometres along the connecting Comox Valley Parkway. The company will cover the $52 million cost of the twin interchanges that will link Cayet to the highways.

Photo: Triology Corp.

5

Trilogy is not the only large developer that has discovered the Comox Valley. The valley – anchored by the towns of Courtenay and Comox – welcomed Costco Wholesale to Courtenay June 2 with residents packing the 146,000-square-foot store. The opening of a giant retailer is an indication of the long-term potential of the valley, where the population is close to 68,000 after seeing a 9 per cent growth surge in 2006-2009 and is still growing at around 2 per cent a year. Vancouver developer Howard Land Group has just launched a $30 million resort project, Comox Bay Marina and Residences, with 61 condominims, connected to the Comox Bay Marina. The decision is partly based on a research study done by RareEarth Project Marketing. The study found that “61 per cent of potential vacation-home buyers in B.C and Alberta would consider Vancouver Island, higher than the Okanagan and anywhere in the U.S.,� said RareEarth presidentJames Askew, noting the Comox Valley was the top choice of Albertans. Also in June, Thrifty Foods announced it RIGHT: John Evans, president of Trilogy, plans the largest real estate development will lead a major commercial development on Vancouver Island on a 719-acre site at Cumberland in the Comox Valley. TOP LEFT: on a 12-acre parcel in east Courtenay. A comSite and model shows how the Cayet project will link to existing island highways. pany spokesperson said no contracts have yet BOTTOM LEFT: Scenic Courtenay and Comox is the site for the biggest Costco outlet on been signed with retail partners and the search Vancouver Island and a new $30 million waterfront resort with 61 condominiums. is ongoing. Thrifty Foods said the centre is Evans said he has had “positive response� “We’re basically building a fully-integrated expected to be complete in 2012. to the project from 50 developers, primarily new community with commercial zoning, home-building companies. “The residential will institutional, residential and mixed-use,� said .VMUJ GBNJMZ come first, then the retail will follow,� he said. Evans. Zoning permits up to 1,350 residen- The rental vacancy rate in the Comox Valley Seven Alberta companies have registered with tial units on various parcels from apartments is tight at under 2 per cent, and detached house Trilogy to look at sites to build on, he said. to townhouses and 600 single-family homes. Please see Charges page A20 Photo: Invest Comox Valley

he Vancouver-based developer spending $100 million on infrastructure for the largest development on Vancouver Island says choosing the Comox Valley for the “instant town� was a no-brainer.

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ED HANDJA PERSONAL REAL ESTATE CORP.

www.bcoceanfront.com

*…œ˜i\Ê£‡nää‡xĂˆĂŽÂ‡Ă‡ĂŽĂ“Ă“ĂŠUĂŠ iÂ?Â?\ĂŠĂ“xä‡ÓnLJä䣣ĂŠUĂŠi`Â…>˜`Â?>JLVÂœVi>˜vĂ€ÂœÂ˜ĂŒ°Vœ“

MagniďŹ cent Vancouver Island Oceanfront Estate

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villamadrona.ca

QUADRA ISLAND, VILLAGE SQUARE 1.6 fully serviced commercially zoned acres with 511ft of road frontage & an 11,070sqft 3-level plaza with a great cross section of tenants, the only Petro Canada self-serve fuel station on the island & 4 residential suites. Drilled well & water storage system for domestic water, extensive paved & gravel parking & 3-phase underground electrical service. CORE SERVICES! $1,125,000

ALDER BAY RESORT An Established and proďŹ tableNorth Vancouver Island business situated on 29 level oceanfront acres. A unique development property zoned to allow for multiple applications including resort residential subdivision, tourism, recreation vehicle development, construction of vacation cottages and commercial services as well as marina restaurant and foreshore development. $2,675,000

FORMER MINSTREL ISLAND RESORT 18 oceanfront acres in 4 titles with extensive shoreline & a variety of improvements including a substantial government dock facility fronting the property with an abundance of moorage options. The property is in the process of being subdivided & the opportunity exits to acquire the property prior to completion & realize the monetary beneďŹ ts. An ideal resort development. $599,000

PORT ALICE RENTAL COMPLEX Practical & functional rental complex on North Vancouver Island, made up of seven 2-bedroom units, situated across from the marina & a short distance from local amenities. This low maintenance building has in-building storage lockers, laundry facilities, detached covered parking, a historically low vacancy rate & direct access to some of the best marine adventure in BC. $295,000

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

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

Victoria

A20 Vancouver Island

www.westerninvestor.com AUGUST 2011 WESTERN INVESTOR

$)"3(&4 from A19

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

Contact Dale Schuss

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

www.randallnorth.ca

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

OCEANFRONT LODGE W/CABINS $2,450,000 reduced to $2,150,000 www.rainforestbeachlodge.com

CAMPGROUND 18.32 ACRES SURF JUNCTION $1,800,000 www.surfjunction.com

TOURIST COMMERCIAL DEVELOPMENT LAND

prices had barely budged in two years before posting a 6 per cent increase in May – the highest increase on the island – from a year earlier, to $366,777. Investors can still find condos for under $120,000, some of which could throw positive cash flow, local realtors say. Like many small B.C. centres, it is government spending that is the big cash generator in the valley. This includes the 70-year-old CFB Air Base at Comox, a National Sea Cadets training facility and North Island College. The valley is a popular retirement area for military people and has great golf courses, including the highly rated Crowne Isle, plus outstanding ocean recreation. The Mount Washington Ski Resort is about 30 minutes from the valley floor. The expanded Comox airport offers direct links to Calgary and, recently, to Fort St. John for oil and gas workers.

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One drawback to commercial and residential developers in the valley is very high development cost charges (DCCs). The DCCs for industrial development in the Comox average $114,912 per acre and are north of $59,000 per acre in Courtenay. In Cumberland, the industrial DCC is $49,923 per serviced acre. For office or retail the DCCs in Comox are around $6.20 per square foot. This compares with 81 cents per square foot, on average, in the Fraser Valley and 54 cents per square foot in Nanaimo, as

two examples. Courtenay charges 78 cents per square foot for commercial projects. In Courtenay, residential builders are dinged nearly $13,000 in DCCs for a new detached house and $9,279 for a condo, while Comox demands $9,738 per house and $7,239 for a multi-family unit. Both of these are higher than the DCCs for new homes in Nanaimo, Victoria and even the City of Vancouver. “The [Comox Valley] DCC rates are brutal,” said a spokesperson for the Central Vancouver Island Home Builders’ Association. The high development cost charges may partially explain why total housing starts in the Comox Valley, at around 200 units per year, are now at the lowest level in nearly a decade.

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Further south on the island, just south of Nanaimo, the Cowichan Valley saw residential prices slip 9 per cent this May, from a year earlier, to $329,221, which is about $40,000 lower than in the Comox Valley, according to the Vancouver Island Real Estate Board. The big news in the Cowichan area, which is anchored by the towns of North Cowichan, Ladysmith and Duncan, is a settlement of taxes owing by the paper giant Catalyst, the largest private-sector employer. Catalyst recently paid $10.7 million in back taxes, penalties and interest to the Municipality of North Cowichan. Cowichan, known primarily for tourism and recreation, is made up of a number of small communities. As well as Duncan, Ladysmith and North Cowichan, these include Chemainus,

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Port Hardy 19

Powell River Campbell River COMOX ✪ Comox Valley Courtenay Vancouver Nanaimo VANCOUVER ISLAND

19

$PNPY 7BMMFZ Population 64,000 Main centres Comox, Courtenay Average house price $366,700

$PXJDIBO 7BMMFZ Population 77,000 Main centres Duncan, Ladysmith, North Cowichan Average house price $329,221

Lake Cowichan, Honeymoon Bay, Mesachie Lake, Cowichan Bay, Mill Bay, Cobble Hill and tiny Youbou. Ladysmith recently made news by increasing its development cost charges, raising the rate for a single-family house 43 per cen t to $12,780, considered the highest rate on Vancouver Island.◆

- 2 lots both waterfront - 1.25 acres $345,000 - 1.52 acres $405,000

NIGHTLY RENTAL COTTAGES AND RESIDENCE $750,000 www.pacificcoastcottages.com

OCEANFRONT GUEST HOUSE/ COTTAGES AND RESIDENCE $2,995,000 www.asnugharbourinn.com

OCEANFRONT B&B AND RESIDENCE $1,339,000 www.ebbtidespringcove.com

www.judygray.com

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 A21

WESTERN INVESTOR AUGUST 2011 www.westerninvestor.com

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Victoria office market tightens

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fter two years of negative absorption – meaning more space was left empty than leased up – the City of Victoria’s office market is seeing a modest recovery, according to a Colliers International survey. In the first quarter, the vacancy rate in the capital dropped to 8.8 per cent, Colliers found, from the record high of 9.1 per cent a year earlier. Take-up improved across all sectors, with a total of 34,190 square feet leased, compared with negative absorption in the first half of 2010. The downtown vacancy rate ticked up, rising to 9 per cent, from 8.3 per cent a year earlier, with the Class B sector taking the worst hit. The suburban vacancy rate is down slightly to 8.54 per cent. The only office building sale of note this year was Whiterock REIT buying a Class A suburban building for $31.8 million, Colliers notes. After a record supply of more than 300,000 square feet built in 2010, no new office construction is expected until mid-2012 when 140,000 square feet will open downtown in two projects. About one-third of 2010’s new supply has not yet been leased.

Vancouver prices head higher

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oyal Lepage is forecasting Vancouver house prices, already the highest in Canada, will increase another 15.4 per cent this year compared with 2010. This would make the overall average price $780,000. Unit sales for 2011 are forecast to increase 6 per cent over last year’s levels. Vancouver’s detached bungalows were the

most expensive in the country, increasing 14.1 per cent year-over-year to an average second-quarter price of $1,033,000, Royal Lepage states. Standard two-storey homes in Vancouver increased 12 per cent to an average secondquarter price of $1,114,500. Standard condominiums showed modest price gains of 2.5 per cent, selling for an average price of $499,250 in the second quarter. “People are confident in Vancouver real estate,” said Chris Simmons, broker and owner of Royal LePage Westside & City Centre. “Looking at detached homes on Vancouver’s West Side, the average sales price was $2.4 million in May 2011. There is higher demand for detached homes than stratas.” Single-family homes are out-performing condos, in the numbers of resales and prices increase. It is a far different scenario, though, in new home construction, where condos and townhomes dominate. According to the latest stats, multi-family starts across Metro Vancouver are running nearly eight-to-one in favour of apartment or townhomes rather than detached houses. Across all of the Metro region, such strata units accounted for 8,472 new homes, while just 1,659 detachede houses broke ground in the first half of the year.

Chilliwack eyed for new casino

G

reat Canadian Gaming Corp. has been an active player in the Fraser Valley market this spring, picking up a Chilliwack bingo hall and a Surrey development site. The casino operator, which last year raked in revenue of $383.5 million, acquired the assets and undertakings of the Chilliwack Bingo Association at the beginning of June for a base amount of $10 million. The deal gives Great Canadian a bingo hall and a five-acre development site where it plans to develop a community gaming centre. The bingo association could receive further proceeds from the deal if Great Canadian successfully develops a gaming centre on the five-acre site. The deal in Chilliwack follows the purchase of a 25-acre site at 14933 Colebrook Road

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nni Group has received a greenlight from Pitt Meadows Council to construct six buildings to complete the second largest industrial business park in B.C. The Golden Ears Business Park on Harris Road offers quick access to both Highway 1 and the Pitt Meadows Airport. “This Onni Group plans six new buildings at its Golden business park will be an incredEars Business Park. ible asset for both Pitt Meadows and the region,” said Pitt Meadows Mayor Don MacLean. Onni plans to develop all the remaining buildings in the business park. The buildings will range in size from approximately 26,693 square feet to 124,273 square feet. A total of 120 bays are proposed ranging in size from 1,750 square feet to 4,900 square feet, plus mezzanines. The buildings’ tilt-up concrete panels will be oriented so that loading areas are not visible from the main roads. A decorative wall will screen any loading areas that would be directly visible from Harris Road. Parking will be primarily located around the perimeter of the buildings. To maintain consistency with Council’s preferred colour palette, the buildings will be painted in shades of beige and grey, and the architectural detailing will include glazing, reveal lines, steel frame canopies and sign bands. Mechanical equipment on the roof will be concealed using wood sunscreens. “The city’s support of this development permit means Onni can proceed as planned and create a state-of-the-art light industrial business park and attract business to Pitt Meadows,” said Terry Becker, chair of the Pitt Meadows Economic Development Office, calling it a “winning” situation. Photo: City of Pitt Meadows

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The B.C. Northern Real Estate Board reports that prices in most communities are at or below 2008 levels. An example is Prince George where the average detached house price is now $247,277, up just $5,000 since 2008 and $1,000 less than in 2010. In Prince Rupert, Terrace, Kitimat and Williams Lake prices are lower now than in 2008. A sharp exception is Fort Nelson, where average house prices are $325,286, up from $234,800 in 2010 and nearly $100,000 higher than three years ago. Fort Nelson is seeing an upturn due to the shale gas industry. As of the end of June, there were 5,355 ith just 15 per cent of residential listresidential properties for sale across the ings selling and prices flatlining, the housing market across most of northern B.C. North, the Board reports, up slightly from a year earlier.◆ failed to thaw out this spring.

a month earlier by 0871194 B.C. Ltd., a company whose principal is Great Canadian executive chairman and CEO Ross McLoed. The purchase price was $7.7 million, $2.2 million below the list price, and gives McLeod approximately 19 acres, net, for mixed-use development.

Northern sales appear frozen

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VANCOUVER ISLAND COMMERCIAL www.nanaimoremaxcommercial.com

1-877-335-4380

Jay Cousins Realty

FOR SALE UÊ 7Ê " Ê / Ê , /Ê qÊ Multifamily site approved for 16 units. No DCC’s, close to downtown Nanaimo with some ocean views. fÎÓä]äää

Jay Cousins jay@jaycousins.com

INVESTMENT OPPORTUNITIES UÊ "7 /"7 Ê "Ê" Ê 1 Ê3 Storey Office building 4,865 Sq. Ft. Main floor tenanted with upper 2 floors ready for new renovations. 9 Parking stalls includedÊÊÊ Ê f{Ó ]äää

UÊ 1 / 9Ê , / Ê 1 /-ÊqÊ i ÌÀ> Ê > > °Ê UÊ £°{Ê , Ê*,"* ,/9Ê<" Ê 69Ê 1-/, Fully i>ÕÌ vÕ ÞÊ V ÃÌÀÕVÌi`Ê > vÊ `Õ« iÝiÃÊ > `Ê vÀiiÃÌ> ` }Ê fenced, 2 entrances, over 300’ of frontage in Duke Point, Nanaimo. à } iÊv> ÞÊ iðÊÊÎÊLi`]ÊÎʤÊL>Ì ]ÊÀ> } }ÊvÀ Ê£ÇÈäÊ Includes 10’ X 30’ office mobile. Seller will entertain lease @ õ°ÊvÌ°ÊÌ Ê£n äÊõ°vÌ°Ê V Õ`i`\ÊÌ iÊ> `Ê >À`Ü `Êv À }]Ê $2,800 per month plus taxes f{ n]äää VÕÃÌ Ê> `iÀÊV>L iÌÀÞ]Ê}À> ÌiÊV Õ ÌiÀÌ «Ã]ÊÈÊ>«« UÊ£ÓÊ1 /Ê * ,/ /Ê 1 – PORT ALBERNI 5-two > ViðÊÊ ÊLi`À ÃÊ >ÛiÊ>Ê«À Û>ÌiÊi ÃÕ ÌiÊÜ Ì Êà ÜiÀÊ Beds & 7-one Beds, upgrades to all units, city & inlet views, > `É ÀÊÌÕL°ÊÊÊ fÎÓ ] ää fÎ{ ] ää turn-key operation, approx. 7.5% CAP rate. Call LS for detailed package fÇ{ ]äää UÊ ",/ Ê "Ê " , Ê 6 -/ /Ê UÊ 7 Ê "7 Ê *",/Ê , Ê

, Ê 1 Ê *,"* ,/9Ê Ê Õ ÞÊ i>Ãi`Ê£nÎÇÊõvÌÊV iÀV > ÊÃÌÀ>Ì>ÊÕ ÌÊ qÊ Currently used as offices & union hall, approx. 6,990 sq. ft. ÛiÀÊÓÊv ÀÃÊ­ ÎxÊõ°ÊvÌ°]Ê> `Ê äÓÊõ°ÊvÌ°®°ÊÊÊÊÊÊf{£ä]äää°ää over 3 floors. P1 zoning allows public assembly, but could be commercially rezoned f x]äää UÊ /Ê 1-/, Ê <" Ê " * 8Ê qÊ - Ê Great revenue opportunity potential to generate $164,000 annually. Island Highway exposure, easy access, 6 buildings in total, all on 2.88 acres. Rental rates with vacancies filled will show nearly 8% CAP rateÊ Ê f£]n x]äää UÊÊÊ/ / Ê 1-/, Ê 1 Ê ",Ê- - 12,106 Light Industrial (I-2) building on a 1 acre stratified lot. Owner will lease back for 5 years. Air conditioned 1,765 sqft office space with a sales/reception area, two offices, a lunchroom, and two bathrooms. Located in North Nanaimo, with easy access to bus routes, and major transportation corridors. f£]n ä]äää°ää

U 1 / / / Ê 69Ê 1-/, Ê*,"* ,/9Ê – Parksville area. 6.2 Acres partially developed with new warehouses, new 4 unit multi-res work/live space, new office building plus existing build to suit tenant in place on 1 acre portion w/ paved & security fenced area. Further 2.5 acres left to continue development plan. Potential income under current configuration in excess of $164,000 annually. REDUCEDÊf£] xä]äää

FRANK JOHNSON

JAY COUSINS

of Nanaimo

Frank Johnson frank@remaxofnanaimo.com

INVESTMENT OPPORTUNITIES

www.nanaimoremaxcommercial.com

1-877-423-0984

INVESTMENT OPPORTUNITIES

U , -/ 1, /Ê , - ÊqÊ "1,/ 9 – 135 Seat well

UÊ } ÌÊ `ÕÃÌÀ > Ê-ÌÀ>Ì>Ê « iÝÊ Ê ÀÀ }Ì Ê1,000 Sq. Ft. in established and in same location for 18 years. Ricky’s All Day Grill 4 year old building. 15 Units in all, paved grounds, concrete block is a genuine turnkey operation. No transfer or training fee required. construction & busy neighbourhoodÊf£Ó{]äääÊ 17 years remain on existing lease. fÓ ]äää UÊ -/, / Ê1 /Ê Ê 1-/, Ê* , ÊqÊ " Approx. 1,300 Sq. Ft. Light Industrial, 2 overhead doors, 2 man doors, UÊ { * 8Ê 1 / , - / Ê *,"* ,/9 – Parksville Atoffice, 18’ ceilings, Strata Fee is $56.50 per month. fÓx ]äää tractive location, quality tenants on yearly leases, ocean view from upper suites, C-3 zoning can potentially allow higher UÊ

1 "1 Ê 1-/, Ê* , ÊqÊ-/, / Ê1 /ÊApprox. commercial or mixed uses in future fx ]äää 1,400 Sq. Ft., 2 offices plus mezzanine, 1 overhead door, 2 man doors, 18’ Ceiling height, Strata Fee $62.00/mo. fÓÈ ]äää U ",Ê- Ê",Ê - ÊqÊ 1-/, Ê*,"* ,/9Close to downtown Nanaimo & zoned I-2 allowing many uses. 7,200 Sq. Ft. UÊ iÀV > Ê Õ ` }ÊEÊ > `Êv ÀÊÃ> iÊ Ê Õ V> Ê *À «iÀÌÞ is improved with a theatre building (Mercury Hall) that warehouse over 2 levels. Recent renovations, asphalt paved front, is 6,032 Sq. Ft. and the Lot size is .34 of an acre. Zoning of C1 side & rear yards, power is 400 amp, three phase. Close to highway General Commercial allows numerous uses. Call for info package access. Upper floor currently leased to long term tenant. Main level f{{ ]äää available for lease at $8.00 per sq. ft. plus TN. fÈ ]äää boasts UÊ 1- --Ê7 / Ê 1 ÊEÊ Ê – MID-ISLAND – In- UÊ*",/Ê , Ê+1 /9Ê" Ê*,"* ,/9 great location, heritage characteristics & is available for expansion cludes fuel sales & automotive repairs on European Import Vehicles or re-development consideration. Constructed in 1959 there is apincluding Mercedes & BMW. High visibility location, fresh reno’s to prox. 30,500 sq.ft. over 3 levels. Zoned CMX-2 allows for a wide the building, ocean views. fÇ ]äää range of uses. Info Portfolio Available. f£]Ó{ ]äää U "/ ]Ê +1",Ê-/", ÊEÊ*1 Ê Ê*",/Ê , ÊÊ UÊÎÊ*>ÀVi Ê iÛi « i ÌÊ* Ìi Ì > Ê Ê*>À ÃÛ iÉ LiÀ Ê 1 Million spent in in renovations to update. Property & business } Ü>ÞÊ Approx.Ê 79 Acres, corner location. Mining permit in available 2 separate profit centres. Pub & room rental business place for pit run, crushing, screening & washing gravel. Owner has plus Liquor Store available for fÈ ä]äää while entire package is been careful to maintain character of the land. Currently zoned runow available for f£]x ä]äää. Info portfolio available. ral residential, but highest & best use would indicate development UÊ , 6 "* /Ê "**",/1 /9Ê Existing Alzheimers/ rezone fx] ää]äää 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 UÊ > ÀÊ ÕÌÌ }Ê À> V ÃiÊ ÀÌ Ê > > Ê V> iÊ fnx]äääÊ near Nanaimo hospital. Society owner will remain with one UÊEstablished Photography Business-Duncan f£Î ]äää year lease at current market rents during planning/feasibility UÊBernard Callebaut Chocolate Dealership-Nanaimo f£{ ]äää phase of redevelopment f{]xää]äää UÊ-ÜiiÌÊ >VÌ ÀÞÊ À> V ÃiÊ Ê ÀÌ Ê > > Ê > Ê f£Ç ]äää

BUSINESSES

JAY COUSINS

JAY COUSINS

A22 Vancouver Island PRIME OCEANFRONT PROPERTY A RARE DEVELOPMENT OPPORTUNITY

www.westerninvestor.com AUGUST 2011 WESTERN INVESTOR

26"-*$6. #&"$)

Business Is Better On Vancouver Island

B U S I N E S S O P P O RT U N I T Y

3285 Island Hwy W. 3.79 Acre property in Sunny, Sooke BC. Just 25 minutes from Victoria. PLA in place for 5 parcels from .62 acre to .74 acre, 3 Oceanfront and 2 Oceanview, $2,315,000

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

John Russell: 250-634-2695

Ian Mackay & Aaron Nicklen

Email: sunnyoceanfront@uniserve.com

1-888-954-4433

www.ianmackay.ca

Strategic Parksville Retail Location

SORRY, YOUR AD IS MISSING...

For Sale 31.83 Acre Industrial Land Parcel - North Cowichan

$3,500,000

Heavy Industrial Zoning. Also available for lease.

2.05 Acre Prime Development Site - North Nanaimo

$2,900,000

On Old Island Highway adjacent to Long Lake.

2.98 Acre Re-Development Site - Central Nanaimo

$2,695,000

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

7.42 Acre Oceanfront Property - Port Renfrew

$2,500,000

Picturesque, untouched parcel at San Juan Point.

New Office and Commercial Building - Central Nanaimo

$1,359,000

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

Fully Tenanted Investment Property - Ladysmith Commercial Development Property - Nanaimo

$ 945,000 $ 795,000

1.2 acres with C-12 Zoning beside Nanaimo Parkway.

Lakefront Pub & Land - Lake Cowichan

$ 674,000

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

Commercial Property - Alberni Highway

$ 590,000

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 Court Ordered Sale - Waterfront Restaurant, Land, Building

Over 2,000 sq. ft. building, previously used as retail wine shop. .44 acre with parking. City planned intersection enhancement for 2012. $675,000 Glenn Karakochuk at Coast Realty 250-248-8371 or info@gkarakochuk.com

$ 549,000 $ 499,000

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

COMMERCIAL REAL ESTATE, FRANCHISES & BUSINESS OPPORTUNITIES IN WESTERN CANADA

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

Commercial Properties Zoned C-4 and C-13 - Nanaimo $ $ $ $ $

2 lots on Kerrisdale Road totaling 19,600 sq ft. 9,800 sq ft lot with 1,037 sq ft office off Bowen Road.

Character Office Building - Nanaimo - 950 sq ft, high traffic area. Hangar Building and Office - Campbell River Regional Airport Light Industrial Strata Unit - Nanaimo

325,000 260,000 289,000 289,000 214,900

Featured Listings Green Rock Industrial Park

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

Jerry Raczkowski 780-932-2121

9,710 to 59,376 sq ft $199,000 to $834,000

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

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 Saratoga Beach Golf Course - Black Creek

$ 1,595,000

The site: 1430 South Island Highway is approved for Apartment and Hotel / Motel site

37.47 acre redevelopment property with executive style golf course.

Call Jerry Raczkowski for more details 604-602-1111

Heavy Industrial Property

RE/MAX Crest Westside www.VancouverInvestor.ca Crest Realty (Westside)

$ 1,375,000

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

Seniors Care Facility - Ladysmith

$ 1,700,000

5 acres of oceanfront with plans in place for 24 additional units. Located at Duke Point in Nanaimo this 5 acre site is paved and fenced and includes an approximately 18,000 sq ft building.

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

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

Saltspring Island

Business Opportunities

18 Acre Waterfront – Subdividable $1.399 M Waterfront Homes $750,000 & up Ocean View Homes $489,000 & up 23 Acre Lakefront Home & Farm $2.3 M 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

SALT SPRING REALTY

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) Building available in addition to business. CALL

Neil Woodrow

250-338-3349

COMOX VALLEY

EMAIL neilwoodrow@shaw.ca

www.woodrowgroup.com

UPHOLSTERY & FURNITURE REFURBISHING—Nanaimo FAMILY ADVENTURE CENTRE—Nanaimo SEWING MACHINE & FABRIC RETAILER—Nanaimo FRANCHISED FAMILY RESTAURANT—Ladysmith ESTABLISHED PLUMBING & HEATING BUSINESS—Nanaimo ESTABLISHED RESTAURANT—Tofino JUMPING JIMINY’S PLAYLAND & CAFÉ—Nanaimo Well known children’s entertainment business RESTAURANT ON ISLAND HIGHWAY—Parksville ESTABLISHED PLUMBING & HEATING BUSINESS—Nanaimo On 7,560 sq ft lot with 1,300 sq ft building A&W RESTAURANT & FAMILY ADVENTURE CENTRE Franchise restaurant in Central Nanaimo as a package with a well known family entertainment destination RETAIL BUSINESS & DEMOLITION CONTRACTOR —Central Vancouver Island New and used building materials SPECIALTY MACHINE SHOP—Central Vancouver Island SHEET METAL FABRICATION BUSINESS—Nanaimo Land, Buildings and up to $75,000 in inventory

$ $ $ $ $ $ $

119,000 149,000 180,000 219,000 225,000 249,000 419,900

$ 425,000 $ 550,000 $ 595,000

$ 775,000 $ 900,000 $1,095,000

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

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

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

$1,900,000 $2,550,000 $3,600,000 $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

A23

WESTERN INVESTOR AUGUST 2011 www.westerninvestor.com

%

From: Sutton West Coast Realty, Harrison Hot Springs, B.C. Sutton agents Fred and Linda Mark sold the following: Deal: Beecher Ranch near Williams Lake. A total of 400 acres with a log home. Sold to an undisclosed buyer. Price: $1 million.

From: Mayfair Commercial, Richmond. Mayfair president Lawrence Lim reports the following sale: Deal: 415-room Delta Airport Hotel , Richmond, sold as a share purchase. Price: $55.5 million. From: Homburg Canada Real Estate Investment Trust, Montreal. Homburg REIT reports the following purchase: Deal: Homburg has acquired three office buildings, totaling 119,832 square feet that compose Centron Park Complex, Calgary, plus an option to develop 286,000 square feet on adjacent land. Purchased from CP Developments Inc. Price: $39.7 million.

Northland, via HVS International, reports the following hotel purchase: Deal: Northland has purchased the Sutton Place Hotel Edmonton and the Sutton Place Hotel Vancouver. The transaction includes continued use of the Sutton Place brand. Price: $197.5 million ($163.6 million for Sutton Place Hotel Vancouver; $33.9 million for Sutton Place Hotel Edmonton. Recently completed a major commercial real estate deal? Send details for a free report 400-acre Beecher Ranch, Williams Lake, here to: wieditor@biv.com. sold for $1 million.

Photo: Mayfair Commercial

From: HQ Real Estate Services, Vancouver. HQ principals Mark and David Goodman report the following sale: Deal: 16-suite apartment rental building, East 3rd Street, North Vancouver. Built in 1950 on From: E-SITQ, a Montreal-based business a corner lot. Price: $2.97 million. unit of Cambridge Group, announces the following sale: From: Avison Young Commercial Real Deal: E-SITQ has sold its 48.5 per cent interEstate, Vancouver. AY AgentsRob Greer est in five Westin branded hotels, including and Mark Hannah of Avison Young sold the Westin Calgary, the Westin Edmonton and the Westin Bayshore, Vancouver to an the following: Deal: 45,321-square-foot Chintz & Co. unidentified institutional investor. Total price: office building, 848 Homer Street, Yaletown, $151.7 million. Vancouver. Sold to Allied Property REIT. 415-room Delta Airport Hotel, Richmond, Price: Undisclosed. From: Northland Properties, Vancouver. sold for $55.5 million.

Photo: Sutton West Coast

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

Our readers report on recent commercial real estate deals across Western Canada

Photo: Sutton Place Hotel

%0/& %&"-4

The Sutton Place hotel, Vancouver, sold for $163.6 million.

7BODPVWFS *TMBOE

Location, Location, Location

BUSINESS OPPORTUNITY IN THE

Southern Gulf Islands!

Purchase of shares and assets allows buyer to step into turnkey operation of the only gas bar and service station on Pender Island, including a convenience store, and a pet supply store. Great opportunity for a family to settle in one of the most secure, healthy, and friendly communities in North America. $325,000 Up-to-date financial info available for serious inquiries. Call or email for details.

CAROL BUDNYK, REALTOR® Direct: 250 588-3378

1041 Fairfield Road, Victoria, BC

Very desirable “Cook Street Village” 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, Owner-managed. Cap Rate of 5.13%. 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. For more information or to arrange a viewing, please contact:

Email: carolbudnyk@royallepage.ca www.realestate-penderisland.com

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

COMOX VALLEY,

NANAIMO | VANCOUVER ISLAND

VANCOUVER ISLAND ICI:

DEVELOPMENT AND INVESTMENT OPPORTUNITIES

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 zoned…includes free 600s.f. mezz -fenced compound out back, 14’ loading door LEASE SPACE RETAIL/COMMERCIAL -former Subway space: high traffic -downtown Comox in main business section -1119 s.f. $22/s.f. base + $12 NNN (est) LEASE SPACE COMMERCIAL -1250 s.f. - 3 offices, boardroom, lunch and reception -Quality finishing Asking $12/s.f. + NNN 4 OF 8 INDUSTRIAL STRATA UNITS FOR SALE -Currently leased at $4000 base rent/mo -Cap rate 6.0% -Downtown Courtenay Asking $775,000 (for package of 4 units)

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

Comox Valley

www.coastrealty.com

MOTEL NEAR DEPARTURE BAY FERRY EXCELLENT REDEVELOPMENT OPPORTUNITY! Enjoy existing income from current motel complex while planning a new development of up to a max 6 story mixed Com/Res project. Great location near hospital node where demand exceeds supply for strata medical and office space. Excellent exposure to Highway 19A. Property backs onto rear street for valuable added access. Asking $1.5M

Call DARWIN

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

Call ROB

OCEAN & CITY VIEWS! 12.4 ACRE SITE DEVELOPMENT OPPORTUNITY FOR 10 RES. LOTS PLUS 26 LUXURY TOWNHOMES. Located in an upscale

OUTRIGHT PURCHASE OR POSSIBLE JV FOR A UNIQUE AQUACULTURE SEA FARM

with any changes he new Purchaser may want to make. With all services and approvals tentatively ready, construction can start this year.

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 DARWIN

Call ROB

MULTI USE DEVELOPMENT SITE

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

residential neighbourhood in close proximity to the Vancouver Island University. Zoned RS- 8, this property has all the necessary design plans, reports and approvals in place. The Development Permit is ready to be given after confirmation of the original Development, together

INDUSTRIAL BUILDING IN VANCOUVER, B.C. Excellent development potential of 8.91 acres, 4.3 acres usable, for one of the remaining Commercial (with residential component) within the main service corridor of the Chase River (South Nanaimo) neighbourhood. Excellent access is available from existing traffic light immediately off Hwy 19A. This rapidly developing area is home to the largest remaining residential development lands within the City’s Urban Containment Boundaries. Asking $2.8M Call DARWIN

Darwin Mahlum Robert Borden

250.760.1066

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

TWO PRIME LOCATIONS WITH HUGE POTENTIAL AS CAREHOME OR CONDO SITES

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 2.34 ACRES OF INCREDIBLE POTENTIAL $4,399,000

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 Please visit our website or call for more details.

monarkinvestments.ca

604-592-7250

Financing Available. Potential Trades.

A24

www.westerninvestor.com AUGUST 2011 WESTERN 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

REAL ESTATE BUYER/TENANT REPRESENTATION

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

DEVELOPMENT SITES PORT COQUITLAM North end Condo Site with

4% holding income! 16,059 sq. ft. site with 2 fully rented fourplexes for 26+ units – OCP designated RA-1. $1,600,000. Call or email David for Pro-Forma COQUITLAM For Commercial Ground Level, Apt or

Office above 10,000 Sq. Ft. Lot. Busy location – Como Lake & Poirier.. Call or email David! BUSINESS WITH PROPERTY PORT COQUITLAM Lougheed Highway

Re-development potential HC zoned 20700 sq. ft. level lot with 2 rental buildings. Property offering includes automotive business $2,299,000 – CLS#4027170 – Call or email David!

INDUSTRIAL WAREHOUSES/ OFFICES

YOU GET WEALTHY BY STRATEGY An example of this is, defer taxes annually into commercial property and let it grow tax free! YOU CAN LAUGH AT MONEY WORRIES – IF YOU FOLLOW THIS SIMPLE PLAN 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 own this turnkey biz in Abbotsford. Sales of books and teacher supplies. Easy biz to learn and owner will train.

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

UÊ{äääÊõÊvÌÊ } ÌÊ `ÕÃÌÀ > Ê iÜiÀÊ­ÓääÇ®Ê building in Dawson Creek, BC. UÊ Ìi Ê ÛiÃÌ i ÌÊ «« ÀÌÕ ÌÞÊ Ê ÀÌ Ê East BC

DAVID KEARNEYCCIM www.davidkearney.com dkearney@remax.net

604-942-0606

Toll Free: 1-888-942-0606 RE/MAX S ABRE REALTY

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

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

Special Zoning

JUST REDUCED TO $1,850,000

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

PROGRESS WAY INDUSTRIAL PARK BUY OR LEASE B UIL D SU TO IT

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

xLocation:

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

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

FOR SALE IN CHILLIWACK INVESTOR ALERT

xFully

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

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

CALL ROY MUFFORD

604-533-3491

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

$1,600,000 KEITH SETTER

604-533-3491

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

SALE $599,900

FORMER DAIRY OPERATION

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

xFarm property with 2 titles x± 21.85 Acres x6 Bdrm Home + 70 x 80 Barn xParadise, close to everything

SALE $1,400,000

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

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.

xGreat opportunity for business

owners and investors xGet in at ground floor and pick your

spot today

LEASE FROM: $8/S. F. TN

For more information contact

SPECTACULAR VIEW 36.4 ACRE PROPERTY – ABBOTSFORD

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

FOR SALE OR LEASE IN CHILLIWACK

SALE $599,900 30.6 acres Fort Langley. March 2011 appraisal of $2M. Zoning allows composting and sales, green waste composting and sales, commercial greenhouses, mushroom farm, equestrian centre and riding stables. This property could have water access including boat launch.

RE/MAX SABRE REALTY GROUP

Lease $7.50/ sq ft

Fast Food Business $79,900

xWarehouse/manufacturing space xSandwich Tree Franchise x2 Spaces available up to 2035 s.f. xEasily run by couple or family xRoll up door, washroom, office etc. xThis business makes money

Lease from $10$12/sq ft

Lease from $12$13/sq ft x1 Blk to hospital and shopping x800 to 1524 sq. ft. available xJoin other doctors and dentists

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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