Western Investor April 2011 Section B

www.naicalgary.com

Daniel Goldstrom Tel: (403) 809-8326 dgoldstrom@naicalgary.com FOR SALE/LEASE 97 Prairie Place SE, Calgary Size - 4.7 Acres Asking Price - $1,699,000 Zoning - Light Industrial

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

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

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

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

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

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

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

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

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

OWN YOUR OWN MOTEL Excellent Opportunity to Manage your way to Ownership.

This is a serious opportunity located in the Kootenays, BC. Newer motel of 48 rooms with potential for expansion.

Popular brand (flag), Pool and pool amenities. **Price is under $5 million and... **OWNER WILL FINANCE** SOUTHERN ALBERTA HOTELS AND MOTELS - Three motels can be purchased as a portfolio or separately.

Total over 300 rooms 8% cap rate on existing cash flow - 160 plus rooms, full service hotel 80% plus occupancy Very Attractive Capitalization Rate Contact: Jim Balfour Tel: (403) 291-8860 jbalfour@naicalgary.com

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

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

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

BUSINESSES FOR SALE FLOOR COVERINGS - CALGARY AREA Established more than 20+ years. Stable staff, long term customers. Revenue $5M & steady. EBITDA $460K (2010). $2,099,000 includes working cap.

HVAC MANUFACTURER - ALBERTA 2011 revenue est. $4M and profitable. Custom air handling manufacturer. In business over 20 years. Direct and indirect fired air. $2.4M incl. working capital.

PAVING BUSINESS - PRINCE GEORGE 2010 revenue $1.1M (up 20%). 2010 EBITDA $351K with owner wage. Batch Plant and 2 gravel pits. $829,000 For a List of All Businesses Call: Craig Tennock Tel: 1-877-880-7290 craig@naicommercial.ca

Calgary Office #1, 6204 - 6A Street SE, Calgary, AB T2H 2B7 • Phone: (403) 214-2344 FAX: (403) 214-0244 BUILT ON THE POWER OF OUR NETWORK. OVER 355 OFFICES WORLDWIDE.

30 FRANCHISE SUPERSTAR

Youngest owner shakes up veteran dining chain

▲

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

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

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

De Dutch franchise owner Michelle Kendall, 24: first year a “case study in successful businesss model” idt

17 EDMONTON’S DARING DREAM

536 acres could morph into waterfront wonder for homes, businesses

29 JETS FEVER GRIPS WINNIPEG

Photo: Judy Gray

FOR SALE/LEASE 1499 - 17 Avenue SW Calgary Size - 2,444 sq. ft.

Asking Price - $1,000,000 Lease Rate - $26.00 p.s.f.

INVESTMENT SALE Foothills Industrial Calgary 9% Cap Rate - 63,000 sq. ft. - 2.6 acres - 10 year term

Residents buzzing over potential of NHL’s return to a “big league” city SPECIAL SECTION • A14

HOT PROPERTIES

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

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

$4.29 APRIL 2011 Vol. 26/Issue 4

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

www.westerninvestor.com APRIL 2011WESTERN INVESTOR

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

www.colliers.com/kelowna

PRIME DEVELOPMENT SITE WINFIELD TOWN CENTRE

PANAGO PIZZA - SMITHERS, B.C. 0ROFITABLE BUSINESS NET TO OWNER OF PLUS -INIMAL COMPETITION %STABLISHED YEARS 0RICE 2EDUCED TO $199,000 (plus inventory)

PRINCETON INDUSTRIAL ESTATES

s !DDITIONAL ACRES $3,575,000

MARSHALL MCANERNEY Call broker for pricing MIKE GEDDES

(Personal Real Estate Corp)

996 LAVAL CRESCENT, KAMLOOPS

AVALON INN - OSOYOOS

ERIC WEBER CHAD BIAFORE

ORCHARD MOBILE HOME PARK

3575 ALCAN ROAD, KELOWNA

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

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

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

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

s #OMMERCIAL

&!2

ACRES $5,999,000

(Personal Real Estate Corp)

TOWER RANCH

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

CHAD BIAFORE, BBA

s 5NIQUE OPPORTUNITY UNIT MOTEL AND LIVING QUARTERS PLUS A PAD MOBILE HOME PARK s /N (IGHWAY IN DOWNTOWN /SOYOOS

BLOCKS TO /SOYOOS ,AKE s &RONTS ONTO (IGHWAY BACKS ONTO A POND List Price: $2,800,000 ERIC WEBER (Personal Real Estate Corp)

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

UĂŠ

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

O f fice: Fax:

250-862-8100 250-984-0803

Syd Berisoff Agent/Broker

AssociateĂŠBroker

Larry Berisoff SalesĂŠAssociate

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

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

SALT SPRING ISLAND s /CEAN &RONT 2ESORT AND 3PA s ACRES

.EARLY FT OF /CEAN &RONT s #HALETS WITH .ATURAL 3PRING 7ATER TO EACH ONE s SQ FT 3PA "UILDING WITH !WESOME 3UITE s !LL THAT AND IT IS A 'REAT "USINESS $ 2,550,000

syd@syberrealty.com

BELLA COOLA s ! 6ERY 0ROlTABLE -OTOR )NN s 2OOMS 3EAT 2ESTAURANT AND 3EAT 0UB s 3EPARATE ,EASED "UILDING "RINGS YR s 6ERY ,ITTLE #OMPETITION 'OOD #ONDITION !SKING $ 2,480,000

BLAIRMORE ALBERTA s 5NIT -OTEL 3TORY "UILDING s 3EAT FULLY EQUIPPED 2ESTAURANT s SEAT ,OUNGE -EETING 2OOM s 6ERY .ICE CONDITION $ 795,000

INTERIOR BC s 5NIT &LAGGED -OTEL s )NDOOR 0OOL AND -EETING 2OOM s "EAUTIFUL ,OBBY WITH "REAKFAST !REA s "EDROOM -ANAGERS 3UITE $ 2,188,000

LAND

PUBS

MERRITT !CRES # $ 369,000

SALMON ARM %XCELLENT &ACILITY n 3EATS PATIO #LOSE TO THE ,AKE 2ECENT 5PGRADES 'REAT FOR A COUPLE 3ELLER -AY #ARRY !SKING $ 595,000

MERRITT !CRES # $ 269,000 SICAMOUS #ORNER OF (IGHWAY AND 4RANS #ANADA 4REMENDOUS %XPOSURE !CES # $ 499,000 REVELSTOKE !CRES (IGHWAY #OMMERCIAL WITH SQ FT "UILDING $ 1,200,000 20 ACRES, 2URAL :ONED $ 249,000

LIQUOR STORE s 6ALEMOUNT "# (OTEL "USINESS s 3EAT 0UB ,ONG 4ERM ,EASED 2ESTAURANT s ,IQUOR 3TORE s 2OOMS s 'OOD "UILDING s 2ENTAL (OUSE ,ARGE ,AND "ASE TITLES $ 1,999,000

QUESNEL BC s 27 Units with 10 RV sites. s 6ERY 7ELL +EPT s -ANY /VERSIZED 2OOMS s 0OPULAR WITH 7ORKERS s %XCELLENT ,IVING !CCOMMODATIONS $ 899,000

SUN PEAKS s ,IVE THE $REAM AT 3UN 0EAKS s $UPLEX WITH A 'ROUND ,EVEL 3UITE s ,IVE IN ONE AND 'ENERATE IN 2ENTALS s "EDROOM 5NITS "EDROOM s (OT 4UBS 3KI n)N #LOSE TO GOLF $ 895,000

CLINTON BC s 5NIT 3TARTER -OTEL s .EW 2OOF #LEAN AND 7ELL +EPT s 3EPARATE X ,OT )NCLUDED s 'REAT FOR A #OUPLE s *UST REDUCED TO $ 319,000

CHRISTINA LAKE 0UB 2ESTAURANT WITH ,IQUOR 3TORE ,ICENSE ,AND "UILDING AND %QUIPMENT !CRES !SKING $ 475,000 CRANBROOK 3EAT $OWNTOWN 0UB 'OOD 2EPAIR /FF 3ITE /WNER 3ELLER -AY #ARRY $ 468,000

$0/5&/54 "13*- */5&3*03 # $ Â… "-#&35" Â… 4"4,"5$)&8"/ Â… ."/*50#" 4&$5*0/

On the cover Franchise owner Michelle Kendall, 24, set a new sales bar during first year heading her De Dutch restaurant.

Photo: Richard Lam

FEATURES 30 0/ 5)& $07&3 :PVOH GSBODIJTFF TFUT UIF QBDF

International architects envision a downtown waterfront

29 8JOOJQFH DBUDIFT +FUT GFWFS

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

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

Coastal land sites zoned, serviced and ready for building

17 &ENPOUPO VOWFJMT B ESFBN SFEFWFMPQNFOU

HOT PROPERTIES

De Dutch management hails fresh “new business model�

13 4UBMMFE QSPKFDUT TFFL JOWFTUPS KVNQ TUBSU

41&$*"- 4&$5*0/ Â… "

Rumours of NHL’s return buzz through “big league� city Download a PDF of all our Regional Roundups online at www.westerninvestor.com

2–14 */5&3*03 /035)&3/ # $ 3&"- &45"5&

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

15–25 "-#&35" 3&"- &45"5&

25–29 4"4,"5$)&8"/

."/*50#"

3&"- &45"5&

COLUMNS

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

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

30-31 '3"/$)*4&4

23 8)"5¤4 )"11&/*/( */ "-#&35" 27 8)"5¤4 )"11&/*/( */ 4"4,"5$)&8"/ 31 '3"/$)*4& /&84

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

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

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

792 HIGHPOINTE BEST VIEWS IN TOWN Build your dream home. 17,000 sq ft building envelope (1.96 acres). Unsurpassed, unimpeded 300 degree lake and city views. Services to lot line. No other lot like it!

Available: $1,387,000 MLSÂŽ

LITTLE BRITAIN SPECIALTY FOODS is the Okanagan valley’s largest retail store specializing in groceries, sweets, souvenirs all imported from the United Kingdom. Established business since May 2007, centrally based in a high trafďŹ c area in Kelowna. This well established business owns the Little Britain trademark in Canada. Great opportunity for growth and the owners have details on the development prospects and creative ideas for future expansion.

Available: $74,900 MLSÂŽ

#4-1385 STEVENS RD 1,998 sq ft Industrial strata for sale or lease.

1,500 sq ft shop with 498 sq ft mezzanine - 3 ofďŹ ces, tile oors, window a/c, electric heat in mezzanine. Drop down halagon light, shower & O/H Heat in shop area. Unit is plumbed for roof top air conditioning. O/H door is 12 x 14 ft.

Available: $309,900, Lease $12.50 psf + NNN MLSÂŽ

FOR SALE OR LEASE AIRPORT BUSINESS PARK Sq Ft from 1,349 to 3,119 Construction is precast concrete. Radiant heating, 20 ft. ceilings & 14 ft. insulated overhead doors.

Easy access to Hwy 97, Kelowna Intl Airport, the University and Quail Ridge golf course & subdivision. CD15 Zoning.

Available For Sale: $249,565 - $331,705 Available Lease: $10 psf plus TNet MLSÂŽ

RUTLAND PLAZA - 1,208 +/- OfďŹ ce space for lease on 2nd oor. Tastefully ďŹ nished and well laid out. Ready to occupy with 3 good size ofďŹ ces, storage rooms, reception area, large foyer and washroom. Ample customer and staff parking available. Signage available. Zoned C7 Asking: $11.00 psf plus CAM MLSÂŽ

“CENTRALLY LOCATED�

INDUSTRIAL ZONING +/- 2,100 sq. ft of Industrial zoned space available in the University District, 300 sq ft of bonus mezzanine ofďŹ ce space. I2 Zoning.

Minutes to International Airport & downtown Kelowna. 4 Parking stalls included, 3 Phase Power.

Asking: $349,00000 MLSÂŽ

SUNSET BEACH SUN SPA - Upscale Salon in an upscale location in the Lower Mission. Turn key package available for someone looking to get into the tanning business. The leased space is built out so well that there is room for expansion.

This space is also laid out wonderfully for a professional medical practitioner. Don't miss this opportunity!

Available For Sale: $189,900 MLSÂŽ

REID’S CORNER UNIVERSITY BUSINESS PARK Commercial Strata Land and Building for sale or Lease. Approximately 4,212 sq ft. Zoning C7, good access to Highway & close to airport.

Asking: $650,000.00 Lease $12.50 psf + CAM MLSÂŽ

GREAT LOCATION IN THE PANDOSY CORRIDOR TO BE BUILT! Priced individually - New Strata Commercial/Residential Mix building.

Commercial bays on 1st & 2nd oors. Unit 1 (main oor) - priced at $724,320 for 2,012 sq.ft. Unit 2 (2nd oor) $1,302,880 for 3,832 sq ft. 3rd oor Penthouse - residential priced at $579,000 each. Design changes may alter oor plate. All measurements to be veriďŹ ed by survey. Call Ken or Kris for details.

BRAVA Under construction. 2 Commercial, 3 Residential Strata units for sale – passive investment. To be fully leased at 7% CAP Rate, 5 year term.

Projected occupancy June 2011.

Call Ken or Kris for all the details.

B4 Interior British Columbia KAMLOOPS, BC & AREA UĂŠTumbler Ridge, BC – 2 commercial strata units 1438 sq ft and 3060 sq ft plus basements.ĂŠĂŠĂŠ ĂŠ $291,000 & $439,000 UĂŠĂŠKamloops – 4000 sq ft building ½ acre lot, commercial mix. High trafďŹ c area ĂŠĂŠ $788,000 or lease @ $12.00 triple net UĂŠĂŠClearwater, BC – Chinese restaurant land, building, Âź acre lot, equipment, liquor license, 4 bedroom suite. $289,000 UĂŠBarriere, BC – 5 unit mini mall plus full basement, hwy frontage, plus vacant lot to expandĂŠ$399,900 UĂŠĂŠNew – Louis Creek, BC – 2.49 acres manicured creekside parcel. 9yr old 1600 sq ft rancher with suite, plus 6 rental pads for park model homes year round. Most tenants away for winter. Plus extra large 30’ x 50’ detached shop – ďŹ ts a motor home. ĂŠ $795,000 UĂŠĂŠChase, BC – Pub liquor store, restaurant on main oor. 14 rooms on 2nd oor which need substantial work reected in price.ĂŠĂŠSuper buy $600,000 UĂŠĂŠKamloops – Franchise hair salon in largest mall.

Great for hair stylist/owner $129,900 UĂŠĂŠKamloops– New ofďŹ ce retail building to be built.

3414 sq ft make great professional ofďŹ ce in busy residential sub div. $2668.00 plus triple net lease UĂŠĂŠClearwater, BC – Former school 11,000 sq ďŹ t with full gym 22 ft ceilings, make great church, school hall or? All on 6 acres. $399,000 UĂŠ ĂŠĂŠKamloops – INVESTORS – 8% Cap rate restaurant. Fronting E Trans Canada Hwy. Leased out. $8,000/mo triple net. $1,200,000

www.westerninvestor.com APRIL 2011WESTERN INVESTOR

@6BADDEH F O R L E A S E 1180 McGill Road LIGHT INDUSTRIAL BUILDING s ,OCATED IN THE 3OUTHGATE )NDUSTRIAL 0ARK CLOSE TO LARGE RETAILERS SUCH AS (OME $EPOT AND 7ALMART ADJACENT TO 4HOMPSON 2IVERS 5NIVERSITY s 2APIDLY DEVELOPING NEIGHBORHOOD WITH A WIDE RANGE OF COMMERCIAL AND TECHNOLOGY BASED l RMS s "UILDING SQ FT MAIN LEVEL AND SQ FT MEZZANINE WITH l NISHED OFl CES s $OCK HEIGHT LOADING FOR DOORS AT FRONT OF BUILDING s ,OW DOCK LOADING FOR DOORS AT REAR OF BUILDING s 7AREHOUSE FT CLEARED CEILINGS

SUSPENDED GAS HEATERS HIGH INTENSITY LIGHTING

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

Call MARVIN MATT

OfďŹ ce: 250-372-2277

1-250-319-8784 ""*-Ê, /9Ê / °

Email: mona@mcmrealestate.ca

mmatt@shaw.ca

www.mcmrealestate.ca

www.realestatekamloops.ca

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

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

JUST LISTEDĂŠ- RARE OPPORTUNITY TO OWN MARKET DOMINANCE

TWO NORTH OKANAGAN SELF STORAGE FACILITIES UĂŠ ˆ}Â…ĂŠ Ă?ÂŤÂœĂƒĂ•Ă€iĂŠ ĂœĂžĂŠÂ™Ă‡ĂŠ ÂœV>ĂŒÂˆÂœÂ˜ UĂŠ{ÓÇÊ1Â˜ÂˆĂŒĂƒĂŠÂˆÂ˜VÂ?Ă•`ˆ˜}ÊÇäÊ i>ĂŒi`ĂŠ1Â˜ÂˆĂŒĂƒ UÊ£ÎäʳɇÊ"Ă•ĂŒ`ÂœÂœĂ€ĂŠ-ĂŒÂœĂ€>}iĂŠ-ÂŤ>ViĂƒ UĂŠĂˆÂ°Ă¤Ă“Â™ĂŠ VĂ€iĂƒĂŠUĂŠ,ÂœÂœÂ“ĂŠvÂœĂ€ĂŠ Ă?ÂŤ>Â˜ĂƒÂˆÂœÂ˜ UĂŠ >˜>}iĂ€Â˝ĂƒĂŠ,iĂƒÂˆ`i˜Vi UĂŠ"˜Â?ĂžĂŠĂˆĂŠ9i>Ă€ĂƒĂŠÂœvĂŠ"Â?` UĂŠ/ÂœÂŤĂŠ+Ă•>Â?ÂˆĂŒĂžĂŠ-ĂŒ>ĂŒiĂŠÂœvĂŠĂŒÂ…iĂŠ Ă€ĂŒĂŠ >VˆÂ?ÂˆĂŒĂž UĂŠ-iÂ?Â?iÀʓ>ÞÊV>Ă€Ă€ĂžĂŠÂ“ÂœĂ€ĂŒ}>}i UĂŠ Ă€ÂœĂƒĂƒĂŠfĂˆĂ“Ă¤]äää³É‡ UĂŠ œ˜wĂŠ`iÂ˜ĂŒÂˆ>Â?ÂˆĂŒĂžĂŠ }Ă€ii“iÂ˜ĂŒĂŠ,iÂľĂ•ÂˆĂ€i`

UĂŠ ˆ}Â…ĂŠ Ă?ÂŤÂœĂƒĂ•Ă€iĂŠ ÂœĂœÂ˜ĂŒÂœĂœÂ˜ĂŠ ÂœV>ĂŒÂˆÂœÂ˜ UĂŠĂ“xnĂŠ1Â˜ÂˆĂŒĂƒ UÊÇn³É‡Ê"Ă•ĂŒ`ÂœÂœĂ€ĂŠ-ĂŒÂœĂ€>}iĂŠ-ÂŤ>ViĂƒ UÊÓ°Ç£Ê VĂ€iĂƒĂŠUĂŠ,ÂœÂœÂ“ĂŠvÂœĂ€ĂŠ Ă?ÂŤ>Â˜ĂƒÂˆÂœÂ˜ UĂŠ >˜>}iĂ€Â˝ĂƒĂŠ,iĂƒÂˆ`i˜Vi UĂŠ œ˜VĂ€iĂŒiĂŠLÂ?ÂœVÂŽĂŠVÂœÂ˜ĂƒĂŒĂ€Ă•VĂŒÂˆÂœÂ˜ UĂŠ ° °Ê/ÂœÂŤĂŠÂŁĂ¤ĂŠ1‡ >Ă•Â?ĂŠÂ?ÂœV>ĂŒÂˆÂœÂ˜ UĂŠ-iÂ?Â?iÀʓ>ÞÊV>Ă€Ă€ĂžĂŠÂ“ÂœĂ€ĂŒ}>}i UĂŠ Ă€ÂœĂƒĂƒĂŠf{™ä]äää³É‡ UĂŠ œ˜wĂŠ`iÂ˜ĂŒÂˆ>Â?ÂˆĂŒĂžĂŠ }Ă€ii“iÂ˜ĂŒĂŠ,iÂľĂ•ÂˆĂ€i`

Asking Price $6,750,000

Asking Price $4,995,000

MOBILE HOME PARK – MERRITT UÊÓäÊ-ÂˆĂŒiĂƒĂŠÂœÂ˜ĂŠx°nĂ“ĂŠ>VĂ€iĂƒ UʙÊ*>Ă€ÂŽĂŠÂœĂœÂ˜i`ĂŠÂ“ÂœLˆÂ?iĂŠÂ…ÂœÂ“iĂƒ UĂŠ Ă?ÂŤ>Â˜ĂƒÂˆÂœÂ˜ĂŠÂŤÂœĂŒiÂ˜ĂŒÂˆ>Â?

UĂŠ ÂˆĂŒĂžĂŠĂƒiĂœiÀÊ>˜`ĂŠĂœ>ĂŒiĂ€ UĂŠ*Â?Ă•ĂƒĂŠĂŽĂŠĂ€iÂ˜ĂŒ>Â?ĂŠÂ…ÂœĂ•ĂƒiĂƒĂŠEĂŠÂŁĂŠDĂ•ÂŤÂ?iĂ?

UĂŠ Â˜Â˜Ă•>Â?ĂŠ}Ă€ÂœĂƒĂƒĂŠÂˆÂ˜Vœ“iĂŠfÂŁĂˆx]äääʳɇ

Asking Price $1,595,000

COURT ORDERED FORECLOSURE SALE $150,000 PRICE REDUCTION INDUSTRIAL BUILDING SUMMERLAND

UĂ&#x160;Ă&#x201C;°Ă&#x2C6;{Ă&#x160; VĂ&#x20AC;iĂ&#x160; -Â&#x2C6;Ă&#x152;iĂ&#x160; Ă&#x160; UĂ&#x160; Ă&#x160; Ă&#x17D;ä]äääĂ&#x160; Ă&#x192;¾°Ă&#x160; vĂ&#x152;°Ă&#x160; BĂ&#x2022;Â&#x2C6;Â?`Â&#x2C6;Â&#x2DC;}Ă&#x160; Ă&#x160; Ă&#x153;Â&#x2C6;Ă&#x152;Â&#x2026;Ă&#x160;Ă&#x2C6;{nĂ&#x160;Ă&#x192;¾°Ă&#x160;vĂ&#x152;°Ă&#x160;Â&#x153;vwĂ&#x160;ViĂ&#x160;Ă&#x192;ÂŤ>ViĂ&#x160;UĂ&#x160; Ă&#x2022;Â&#x2C6;Â?Ă&#x152;Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160;Ă&#x201C;ääĂ&#x2021;Ă&#x160;Ă&#x160; UĂ&#x160;<Â&#x153;Â&#x2DC;Â&#x2C6;Â&#x2DC;}Ă&#x160; >Â?Â?Â&#x153;Ă&#x153;Ă&#x192;Ă&#x160; Â&#x2DC;Ă&#x2022;Â&#x201C;iĂ&#x20AC;Â&#x153;Ă&#x2022;Ă&#x192;Ă&#x160; ÂŤiĂ&#x20AC;Â&#x201C;Â&#x2C6;Ă&#x152;Ă&#x152;i`Ă&#x160; Ă&#x2022;Ă&#x192;iĂ&#x192; Ă&#x160;Ă&#x160;Ă&#x160;Ă&#x160;New Asking Price $1,850,000

LAND â&#x20AC;&#x201C; OSOYOOS HUGE PRICE REDUCTION â&#x20AC;&#x201C; 21.8 ACRES â&#x20AC;&#x201C; PRIME HOLDING PROPERTY UĂ&#x160; Â&#x153;Ă&#x20AC;Â&#x2DC;iĂ&#x20AC;Ă&#x160;Ă&#x192;Â&#x2C6;Ă&#x152;iĂ&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160;Â&#x2026;Â&#x2C6;}Â&#x2026;Ă&#x160;Ă&#x152;Ă&#x20AC;>vwĂ&#x160;V]Ă&#x160;Â&#x2026;Â&#x2C6;}Â&#x2026;Ă&#x160;iĂ?ÂŤÂ&#x153;Ă&#x192;Ă&#x2022;Ă&#x20AC;iĂ&#x160;Â?Â&#x153;V>Ă&#x152;Â&#x2C6;Â&#x153;Â&#x2DC;Ă&#x160;Ă&#x153;Â&#x2C6;Ă&#x152;Â&#x2026;Ă&#x160;Â&#x153;Ă&#x203A;iĂ&#x20AC;Ă&#x160;ÂŁ]äääĂ&#x160;vĂ&#x152;°Ă&#x160; Â&#x2C6;}Â&#x2026;Ă&#x153;>Ă&#x17E;Ă&#x160;Ă&#x17D;Ă&#x160; vĂ&#x20AC;Â&#x153;Â&#x2DC;Ă&#x152;>}iĂ&#x160;ÂŤÂ?Ă&#x2022;Ă&#x192;Ă&#x160;ÂŁ]ÂŁĂ&#x2021;xĂ&#x160;vĂ&#x152;°Ă&#x160;Ă&#x192;iVÂ&#x153;Â&#x2DC;`>Ă&#x20AC;Ă&#x17E;Ă&#x160;Ă&#x20AC;Â&#x153;>`Ă&#x160;vĂ&#x20AC;Â&#x153;Â&#x2DC;Ă&#x152;>}iĂ&#x160;UĂ&#x160;/Â&#x153;Ă&#x153;Â&#x2DC;Ă&#x160;Ă&#x192;iĂ&#x153;iĂ&#x20AC;Ă&#x160;EĂ&#x160;Ă&#x153;>Ă&#x152;iĂ&#x20AC;Ă&#x160;>Ă&#x152;Ă&#x160;Â?Â&#x153;Ă&#x152;Ă&#x160;Â?Â&#x2C6;Â&#x2DC;i UĂ&#x160;6iĂ&#x20AC;Ă&#x17E;Ă&#x160;VÂ?Â&#x153;Ă&#x192;iĂ&#x160;Ă&#x152;Â&#x153;Ă&#x160;Â?>Â&#x17D;iĂ&#x160;UĂ&#x160; Â&#x2DC;VÂ?Ă&#x2022;`iĂ&#x192;Ă&#x160;Â&#x2026;Â&#x153;Ă&#x2022;Ă&#x192;iĂ&#x160;EĂ&#x160;Â&#x153;ÂŤiĂ&#x20AC;>Ă&#x152;Â&#x2C6;Â&#x2DC;}Ă&#x160;Â&#x153;Ă&#x20AC;VÂ&#x2026;>Ă&#x20AC;` REDUCED $750,000 TO NEW Asking Price of $2,400,000 2.13 ACRE DEVELOPMENT SITE - $155,000 PRICE REDUCTION UĂ&#x160;/Â&#x153;Ă&#x2022;Ă&#x20AC;Â&#x2C6;Ă&#x192;Ă&#x152;Ă&#x160; Â&#x153;Â&#x201C;Â&#x201C;iĂ&#x20AC;VÂ&#x2C6;>Â?Ă&#x160;âÂ&#x153;Â&#x2DC;Â&#x2C6;Â&#x2DC;}Ă&#x160;UĂ&#x160; Ă&#x20AC;Â&#x153;Â&#x2DC;Ă&#x152;>}iĂ&#x160;Â&#x153;Â&#x2DC;Ă&#x160;Ă&#x17D;Ă&#x160;Ă&#x20AC;Â&#x153;>`Ă&#x192;Ă&#x160;UĂ&#x160;*Ă&#x20AC;Â&#x2C6;Â&#x201C;iĂ&#x160;Â?Â&#x153;V>Ă&#x152;Â&#x2C6;Â&#x153;Â&#x2DC;Ă&#x160;Â&#x153;Â&#x2DC;Â?Ă&#x17E;Ă&#x160;Ă&#x17D;ääĂ&#x160;viiĂ&#x152;Ă&#x160;Ă&#x152;Â&#x153;Ă&#x160;Â?>Â&#x17D;i UĂ&#x160; Â&#x2DC;VÂ?Ă&#x2022;`iĂ&#x192;Ă&#x160;Ă&#x20AC;iÂ&#x2DC;Ă&#x152;>Â?Ă&#x160;Â&#x2026;Â&#x153;Ă&#x2022;Ă&#x192;iĂ&#x160;EĂ&#x160;Â?>Ă&#x20AC;}iĂ&#x160;Ă&#x192;Ă&#x152;Â&#x153;Ă&#x20AC;>}iĂ&#x160;LĂ&#x2022;Â&#x2C6;Â?`Â&#x2C6;Â&#x2DC;}Ă&#x160;UĂ&#x160;NEW Asking Price $695,000

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

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

FOR SALE PENTICTON

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

$1,999,000

PENTICTON

LAKEFRONT PENTHOUSE WITH MOUNTAIN VIEWS AVAILABLE IMMEDIATELY

1 BDRM + DEN: $529,000

PENTICTON

LAKEFRONT PENTHOUSE AMAZING VIEWS OF OKANAGAN LAKE AVAILABLE IMMEDIATELY

2 BDRM + DEN: $1,599,000

OSOYOOS 10 INCOME PRODUCING LAKEFRONT RV LOTS

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

monarkinvestments.ca

604-592-7250

Financing Available. Potential Trades.

INVITATION TO PURCHASE WATERFRONT DEVELOPMENT PROPERTY IN PEACHLAND, B.C. D. Manning & Associates Inc., in its capacity as Receiver-Manager of the Property of 0748151 B.C. Ltd. (â&#x20AC;&#x153;the Companyâ&#x20AC;?) is seeking offers to purchase its right, title and interest in the Property of the Company located at 3498, 3520 and 3560 Drought Road and 5181 Robinson Lane, Peachland, B.C. (â&#x20AC;&#x153;the Propertyâ&#x20AC;?).

The Property consists of four (4) adjacent lots on the northern outskirts of Peachland, B.C., just off Highway 97 and overlooking Lake Okanagan, with a total area of approximately 1.8 hectares. Three (3) of the lots contain single family houses, all presently being rented out. The fourth lot is vacant.

The Property is presently zoned RR-2 and RR-1 by the District of Peachland.

A proposal to subdivide the Property into fourteen (14) lots has been submitted, but this subdivision approval has not yet been approved by the District of Peachland.

Prospective purchasers must submit offers to the Receiver-Manager to purchase the Property prior to 5:00 pm PST on May 31, 2011 at the address listed below. The form of offer is included in the Receiver-Managerâ&#x20AC;&#x2122;s Information Package. The Receiver-Manager reserves the right to enter into an agreement or negotiate with any prospective purchaser at any time prior to the deadline, and all offers will be subject to Court approval.

This invitation is intended solely for the purpose of soliciting offers from qualified, prospective purchasers of the Property offered.

To request an information package or to arrange for a viewing of the Property, please contact:

Alex E.H. Ng, CIRP alex.ng@manning-trustee.com

D. MANNING & ASSOCIATES INC. Receiver-Manager of Property of 0748151 B.C. Ltd. 520-625 Howe Street Vancouver, B.C. V6C 2T6 Phone: 604-683-8030 Fax: 604-683-8327 www.manning-trustee.com

Interior British Columbia B5

WESTERN INVESTOR APRIL 2011 www.westerninvestor.com

BUSINESS AND INVESTMENT OPPORTUNITIES

KELOWNA & OKANAGAN ACREAGES 4.7 ACRES - Very private estate in the City of Kelowna on Mission Creek. 5,000 sqft home, 5 bay garage, fenced for horse, barn with tack room. .............. $1,700,000 MLS® # 10021674

100 MILE HOUSE, B.C.

6.8 ACRES - Recreational retreat on Okanagan Lake. Located across the lake from Peachland near Rattle Snake Island. Boat access only, next to Provincial Park. ............ $545,000 Exclusive 9.2 ACRES - Flat irrigated hay land in the City of Kelowna close to new University UBCO. Perfect spot to build your dream home & have a few horses. ......$975,000 MLS® # 10022364

FULL FACILITY HOTEL

18 ACRES - In the City of Kelowna, very private next to Mission Creek. 3,000 sqft home +2 duplexes+ cabin+mobile home, generates good income. .... $1,975,000 MLS® #10022369

Includes only private liquor store in town.

Excellent location. $2.9 million

19 ACRES - In S.E. Kelowna with 2 homes and large detached garage and hay barn. Fully irrigated flat hay land in desirable country setting. ....................Asking $1,900,000 MLS® #10018678

250-459-2454

9.8 ACRES - East of Kelowna next to Crown Land. Luxurious 4,176 sqft home with 4 bedrooms, 28 X 42 ft garage + second 2 bedroom home. ......................... $1,480,000 MLS® # 10018423

20 ACRES - In S.E Kelowna. Valley bottom flat hay land with small creek. Large barn with 2 bedroom suite, 2 bedroom mobile home + small cabin ........ $1,450,000 MLS® #10018056 84 ACRES - In West Kelowna 15 minutes drive to downtown. Very private setting. Water rights on Bear Creek. Custom built home + carriage home ............... $1,380,000 MLS® # 10017225 149 ACRES - 15 minutes drive east of Kelowna in Joe Rich area. Mission creek frontage, 3 bedroom cabin, Very mature Timber stand. Open to offers! .......................$695,000 MLS® # 10021439 160 ACRES - In Oyama area half way between Kelowna and Vernon. 3 legal Titles. Has Pink Shale Rock Quarry. Seller will carry financing or take trades............. $1,450,000 MLS® # 10024181 287 ACRES - 10 minute drive south of Vernon near Predator Ridge Golf Course. Spectacular lakeviews. Sellers will consider trades and or carry financing. $4,900,000 MLS® # 10019393 4.4 ACRES - Kamloops, B.C. Private estate home with 6 bedrooms & pool. 573 ft frontage on South Thompson River. Next to River Shores Golf Course. ..... $1,350,000 MLS® # 10020002

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

LIST

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

1-800-661-6988

UÊÊ >À}iÊ >V iÉ7i ` }Ê - «Ê – Suitable for investor or owner/operator. Includes land & buildings. fÓ°ÓxÊ UÊÊ ÛiÃÌ i Ì – 4 units in 1 building, established tenants with commercial tenants in place. $319,000 UÊÊ `ÕÃÌÀ > Ê iÛi « i ÌÊ > ` - 130 acres, with highway and railroad access. Reduced to $995,000 UÊÊ*À iÊ iÀV > Ê qÊ Ü Ì Ü Ê > «Ã Busy corner location. Can be leased for one or several tenants or for sale at f£°{Ê UÊÊ iÀV > Ê Õ ` }Ê– 2 tenants - plus storage + fenced compound - 8.5% cap rate on asking price of $450,000

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

SALMON ARM, B.C. 14 apartment condominiums to be built to complete the 38-unit Valley Vista on a two-acre sloping property. Excellent view of Shuswap Lake from one side, forest on the other. Onebedroom, 600 sq. ft., two four-plexes and a sixplex. Some suites are level entry. Can be rented.

Quiet pets welcome. Modulars built by SRI Homes in Kelowna. Foundations are ready and waiting for the two four-plexes. All services and driveways are in.

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

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

18,000 SQ. FT. DISTRIBUTION OR MANUFACTURING CENTRE

HOTEL & LIQUOR STORE & RESTAURANT

$1,490,000

NICELY LOCATED WITH ADEQUATEPARKING AND FENCED STORAGE AREA

$749,000 POTENTIAL CO GEN PLANT 100 ACRES s ,ARGE )NDUSTRIAL 3ITE s -AJOR 0OWER ,INE s 'AS ,INE s 2AIL ,INE

$750,000

INTERNATIONAL SCHOOL

PARTIALLY COMPLETED OVER 52,000 SQ. FT. OF NICELY DESIGNED SCHOOL ADJOINING A 10 ACRE PARK WITH BALL DIAMONDS AND AN ICE ARENA

QUALITY INN 48 ROOMS FURNITURE & APPLIANCE LAND, BUILDING, BUSINESS 37,500 SF OF NEWER BUILDING

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

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

$2,495,000

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

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

B6 Interior British Columbia

www.westerninvestor.com APRIL 2011WESTERN INVESTOR

THE WAY WE WORK: no.

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ALWAYS INVEST IN PASSION.

BUSINESS BANKING IS ABOUT A SHARED PERSPECTIVE. Being headquartered in the West has its advantages. We know your business environment better, understand local markets and make timely decisions.

More importantly, we can work closely with you to ďŹ nd solutions perfectly suited to your business banking needs. Learn more at theworkingbank.ca.

WESTERN INVESTOR APRIL 2011 www.westerninvestor.com

Interior British Columbia B7

WHO ELSE WANTS A BUSINESS WITH A STRONG BOTTOM LINE?

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

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

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

Sunshine Valley Appliances, complete sales, service, install centre!

Strong bottom line. $350,000

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

VERNON & AREA TRADES CONSIDERED ON SELECT PROPERTIES NEW! CONDOMINIUM GARAGES! UÊÊ ,-/Ê/ Ê" , tÊ*Ài Õ ÊÃÌ À>}iÊÜ Ì Ê>Ê` vviÀi ViÊqÊ9"1Ê "7 Ê /tÊ iÜÊ , /"7 Ê6 , " ÊV « iÝÊ vviÀÃÊ{ÇÊvÕ ÞÊVÕÃÌ â>L iÊÃÌ À>}iÊ}>À>}iðÊÓäÝ{n]ÊÓ{Ý{nÊÜ Ì Ê£{Ê EÊ£È½Ê ÛiÀ i>`Ê` ÀÃÊ« ÕÃÊÕ ÌÀ>ÊV Ûi i ÌÊ`À ÛiÊÌ À Õ} Ê `i ° Ê `i> Êv ÀÊ,6-]ÊL >ÌÃ]ÊV iV -

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£näÊ>VÀiÃÊ ÕÌÊ vÊ ,°Ê$6,495,000Ê -Á COMMERCIAL/INDUSTRIAL UÊIDEAL FOR WATER BASED BUSINESSÊÊÊ°x£Ê iÛi Ê>VÀiÊâ i`Ê £Ê } ÌÊ `ÕÃÌÀ > °Ê£n½ÊÝÊÎä½Ê à «Ê> `ÊÎÊL`À Ê ÕÃi°Ê V>Ìi`ÊLiÌÜii Ê` Ü Ì Ü Ê> `ÊÞ>V ÌÊV ÕLÉL >ÌÊ >Õ V °Ê iÝÌÊÌ Ê > À« ÀÌ°Ê$688,000Ê -Á UÊÊ " , Ê 1 Ê/"Ê-/, / 9Ê Õ Ì Ìi > ÌÊLÕ ` }ÊÜ Ì Êà ÌÀ>Ì wV>Ì Ê«À ViÃÃÊ Üi ÊÕ `iÀÜ>Þ°Ê `Ê V iÊ«À `ÕV }ÊL `}ÊÜ Ì ÊÕ«Ã `iÊV>« Ì> Ê> ««ÀiV >Ì Ê vÊÃÌÀ>Ì wV>Ì ÊV « iÌi`°Ê >ÃÞÊ>VViÃÃÊ ÊLÕÃÞÊ ÀÌ i `Ê vÊ ÌÞ°Ê $2,095,000Ê -Á UÊÊ7 , "1- É- "*\Ê,>ÀiÊw `Ê Ê-ÌÀ>Ì>ÊÕ ÌÊ Ê `ÕÃÌÀ > ÊÃiVÌ ÀÊ vÊV ÌÞ°ÊÓxÊÝÊ{ä½ÊÜ À ë>ViÊ « ÕÃÊ vwViÉ iââ> i°Ê"Ü iÀÊ >ÞÊ i>ÃiÊL>V °Ê $298,000°Ê -Á UÊÊ 1/1, Ê " , Ê1- ÊÊ£ÉÎÊ iÛi Ê>VÀi°Ê ÕÃÌÊ> iÝi`Ê Ì ÊV ÌÞ°ÊÊ } ÊÛ Ã L ÌÞ°Ê" Ê À >`ÊÌ Ê- Ê,ià ÀÌ°Ê $349,900Ê -Á UÊÊ " , É, - / Ê Ê\ÊÓxääÊõ°vÌ°ÊÃÌ ÀivÀ ÌÊ« ÕÃÊvÕ ÞÊ`iÛi «i`]Ê`i à >L iÊL>Ãi i ÌÊ> `Ê{ÊÀià `i Ì > ÊÃÕ ÌiÃÊ>L Ûi°Ê } ÊÛ Ã L ÌÞÊ Ê` Ü Ì Ü ÊV Ài°Ê > iÊ >VViÃÃ°Ê `ÊV ` Ì °Ê+Õ V Ê* ÃÃiÃà °Ê*À v À >Ê ` V>ÌiÃÊÇ° Çx¯ÊV>«ÊÀ>Ìi°Ê$689,000Ê -Á UÊÊ Ê ",Ê 1 /1, Ê 1- --ÊÊÊ i>À ÞÊÎÊ iÛi Ê>VÀiÃÊ ÊvÀ Ì>}iÊÀ >`ÊÜ Ì Ê } Ê iÝ« ÃÕÀiÊÌ Ê } Ü>Þ°Ê/i Ê ÕÌiÃÊÌ ÊV ÌÞÊVi ÌÀi°Ê* > ÃÊv ÀÊLÕ ` }Ê>Û> >L i°Ê$888,000Ê -Á UÊÊ{°ÈÓÊ , -Ê Ê 1 -ÊÊ `ÕÃÌÀ > Ê > `°Ê{ä]äääÊõ°vÌ°Ê ÊÌÜ ÊL `}ðÊÎÊ« >ÃiÊ« ÜiÀ°Ê ÓÊâ }°Ê,> Ü>ÞÊ/À>V >}i°Ê ÕÀÀi Ì ÞÊ «iÀ>ÌiÃÊ>ÃÊà > ÊÃ>Ü ÊEÊÜ `ÊÀi > Õv>VÌÕÀ }Ê « > Ì°Ê£äÊ ÃÊvÀ Ê6iÀ Ê>` >Vi ÌÊÌ ÊÀi>`ÞÊÃÕ«« ÞÊ vÊ` i à > Ê Õ LiÀ°Ê$2,250,000Ê -Á UÊÊ, , , ,Ê- ,6 Ê " , Ê- / ÊÊ `i> Êv ÀÊi `ÊÕÃiÀÊ ÀÊÃÕL` ÛÊ Ì Êà > iÀÊ ÌÃ°Ê n°ÓÊ>VÀiðÊ< }Ê> ÜÃÊv ÀÊ ÌÃÊ£ä]nääÊõ°ÊvÌÊ> `ÊÕ«°Ê Õ ÞÊÃiÀÛ Vi`Ê>Ài>°Ê VViÃÃÊvÀ ÊÓÊ ÀÊ ÎÊÀ >`Ã°Ê Õ Ì ÌÕ`iÊ vÊÕÃiÃÊ V Õ` }ÊÀià `i Ì > Ê>L ÛiÊ > Êy À°Ê- iÊ« Ìi Ì > ÊÛ iÜÃÊ ÛiÀÊ } vÊV ÕÀÃi°Ê$5,750,000Ê -Á MULTI-FAMILY SITES UÊÊ£°{ÊÊ , -Ê Ê/7"Ê/ / -ÊÊqÊâ i`Ê,xÊ Õ Ì v> Þ°Ê+Õ iÌÊv> ÞÊ i } L ÕÀ `Ê>` >Vi ÌÊ Ì Ê*>À ° $750,000Ê -Á

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

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

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

$ $ & 02.-013-2/./ ($ '-

B8 Interior British Columbia

www.westerninvestor.com APRIL 2011WESTERN INVESTOR

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

• 2,000 to 16,000 sq. ft.

• Additional parking/yard space available • Heated and sprinklered building • Up to 42’ ceilings • Large overhead doors • 3 phase power

Request for Proposals Downtown Development Site in Salmon Arm, BC The Board of Education of School District No. 83 (North Okanagan/Shuswap) invites proposals for the lease and development of lands at the former J.L. Jackson School site in downtown Salmon Arm, BC. This site is surplus to the School District’s educational needs and is being offered for lease and development to generate an ongoing revenue stream.

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

The development parcel is approximately 7 acres, is welllocated and highly accessible, and is designated in the Official Community Plan to allow retail, service, office, and multifamily residential uses.

A Request for Proposals (RFP) Document is available for downloading online at no charge. The RFP Document provides information about the site and instructions for the submission of Proposals. To download the RFP Document, please go to the BC Bid website at www.bcbid.gov.bc.ca For more information, please contact: Bruce Hunt, Project Coordinator, bhunt@sd83.bc.ca

The Property Source Group www.thepropertysource.ca

tf: 1.888.661.4434 p: 250.317.2707

GINO DAL PONTE

CINDY GARNER

DAL ANDERSON

GORDON KEITH

Proposals are due on 3 June 2011 by 2:00pm Pacific Time.

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Q;!250-860-7500!

UG;!888-535-6962!!!!!!!!!

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U-VIN WINE ON PREMISES FOR SALE Located in the Thompson Okanagan Well established Owners will stay to help with transition Assets or share sale Enquire at: uvin@shaw.ca Confidentiality agreement will be required

LFMPXOB-!C/D/

BUSINESS LOANS & MORTGAGES

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

UÊÊ"«iÀ>Ì }ÊLÕà iÃÃiÃÊ Ê «iÀ>Ì }Ê > ÃÉ i>ÃiÃÉ ÌiÀ Ê > à UÊÊ Õà iÃÃÊ Ý«> Ã Ê Ê iââ> iÉ}À ÜÌ ÊV>« Ì> UÊÊ Ìi ÃÊEÊ Ìi ÃÊ Ê }ÊÌiÀ Ê ÀÌ}>}iÊv > V } UÊÊ Õ Ì Ê > ÞÊ Ê«ÕÀV >ÃiÊEÊV ÃÌÀÕVÌ Êv > V } UÊÊ iÀV > ÊEÊ `ÕÃÌÀ > Ê Ê«ÕÀV >ÃiÊEÊV ÃÌÀÕV Ì Êv > V } UÊÊ Õà iÃÃÊ* > ÃÊ Ê iÜÊEÊiÝ ÃÌ }ÊLÕà iÃÃià A no obligation assessment is just a call away.

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

B9

WESTERN INVESTOR APRIL 2011 www.westerninvestor.com

FEATURE Bustling Vernon lives up to its billing as Canada’s No. 1 city for “entrepreneurial spirit”

¡:PV DBO IFBS UIF IBNNFST¢ WI STAFF WESTERN INVESTOR ernon, a city of 36,000 that is the service and retail hub of the North Okanagan, is ranked among the top three cities in B.C for prosperity, affordable housing, lifestyle and weather according to Moneysense magazine.

(TOP) Award-winning Predator Ridge: 500 homes have been built around the 36-hole golf course. (RIGHT) The new 33,000-square foot Nixon Wenger law office under construction in downtown Vernon.

designed to echo Vernon’s historic law court buildings.

“You can hear the hammers,” said Howard Kruschke, director of real estate marketing for Predator Ridge golf course, who lives two blocks from the downtown core. The sound of construction also rings at Predator, where Vancouver-based Wesbild is building new houses, townhomes and condominiums around its award-winning 36-hole course. Last year, when Wesbild opened its new 18-hole course, it was quickly named the best new golf course in Canada by Score magazine.

Kruschke said sales at Predator Ridge have seen a shift in the last two years.

“We are now a domestic market, “ he said, with most buyers coming from Vernon and Kelowna rather than Vancouver or Alberta. To

Photo: Economic Development, Vernon

The Canadian Federation of Independent Business ranks it number 1 in Canada for entrepreneurial spirit.

And it is this spirit that is driving a building boom in the lakeside city.

“We started here and all our staff live here,” said Michael Kinghorn, a spokesman for Kal Tire, Canada’s largest tire distributor.

Kinghorn was explaining why Kal Tire chose to build its new 80,000-square-foot head office in Vernon, instead of closer to customers in the Lower Mainland or Calgary.

The construction for Kal Tire’s new HQ is already underway and is expected to wrap up during the summer of 2012. The three-storey building, with a capacity for 370 people, will bring the existing administration staff and training centres under one roof with room for future growth, Kinghorn explained.

Meanwhile, the Okanagan Spring Brewery, owned by Japan’s Sapporo Breweries, continues to expand its central Vernon operations. It’s annual payroll is more than $6.5 million a year, and the Brewery spends an additional $2.2 million on capital expenditures and $2 million on replacement parts, repairs and maintenance.

Forestry company Tolko, which has grown from a small B.C. sawmill operation to an international pulp and paper and lumber company, completed its new headquarters in downtown Vernon three years ago, home to about 300 employees.

A few blocks away in Vernon’s bustling downtown, the law firm of Nixon Wenger is finishing a new 33,000-square-foot office,

Photo: Predator Ridge

7

first two months of this year, a modest increase from the same period in 2010 and much higher than in 2009.

There are a lot of listings on the market – an estimated 1,400 in February – and more are expected as the spring selling season gets underway. The average MLS price of a detached house was $330,000 in February, down 14 per cent from a year earlier.

Investors can find good starter homes in Vernon, even with lake views, for unde r $250,000. A Western Investor survey found 370 listings under $400,000, including mobile homes, through the local ReMax office alone.

Radiated with hiking and bike trails and with public access to both Okanagan Lake and Kalamalka Lake, plus the nearby Silver Star Mountain ski resort,Vernon is a popular city for families, and the City of Vernon, with senior government support, is continually adding infrastructure to attract more.

One example is the new $25 millionVernon Secondary School, now under construction, that will cover 12,500 square feet. Another is the Vernon Jubilee Hospitalthat is undergoing an $88 million, 181,500-square-foot upgrade. capture these local buyers, Wesbild has started A third is the new 30,000-square-foot Vernon to offer 1,500-square-foot ranchers priced at Regional Library that is being built downtown next to the new Nixon Wenger law office. around $400,000.

Next door to Predator Ridge, the $55 million Sparkling Hills Resort, an ultra-luxury, $PNNFSDJBM European-style wellness hotel, opened two Those interested in retail will find plenty years ago. of space available in or near the downtown, Last month in Berlin, Germany, Senses according to Dave Deshane of Coldwell Magazine named Sparkling Hills the “best Bankers, who noted there are some potenmountain hotel in the world 2011,” edging out tial deals. “Retail lease rates are down 20 per top European resorts. cent from the peak,” he said. An example is the Bank of Montreal building in the heart of )PVTJOH downtown. Vacant for nearly two years, it is fo Vernon’s housing market never experienced the lease at $10 per square foot. roller-coaster price swings seen in Kelowna, Based on local listings, prime serviced indusand sales have been slow for the past two years. trial land is selling for close to $500,000 per An apparent recovery is underway, however. acre. Lease rates for industrial buildings start About 140 residential properties sold in the in the $8-per- square-foot range. ◆

*OUFSJPS #SJUJTI $PMVNCJB

B10 Interior B.C./Business Opportunities KAMLOOPS, BC

RESTAURANT FOR SALE

38 Unit Motel in Aberdeen s /UTDOOR HEATED POOL s YRS OLD s "DRM LIVING QUARTERS s -ANAGEMENT IN PLACE !SKING $2,399,000 SHARE SALE Peter Seed

Chris Wieser

(604)691-6608 (604)691-6662 peter@naicommercial.ca chris@naicommercial.ca

NAI Commercial

www.westerninvestor.com APRIL 2011WESTERN INVESTOR

Only ďŹ&#x201A;oating Licensed Restaurant on Shuswap Lake.

High Cap Rate â&#x20AC;&#x201C; Good terms

250-253-2543 www.shuswapsharkshack.ca

PROFITABLE, FUN, EXCITING

North Okanagan Security Alarm Company Sales, Service, Monitoring

8KI?D;II <EH I7B; L;HDED" 8$9$ Â&#x203A; CfZXk\[ `e M\iefeĂ&#x2039;j Yljp efik_ \e[ j_fgg`e^ [`jki`Zk% Â&#x203A; Jg\Z`Xc`q`e^ `e kfg hlXc`kp cX[`\j le[\i^Xid\ekj% Â&#x203A; J\im`e^ k_\ Efik_ FbXeX^Xe Xe[ Y\pfe[% Â&#x203A; J_fn`e^ \oZ\cc\ek i\kliej% Cfe^ k\id c\Xj\ `e gcXZ\%

marketing your franchise?

Call the

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),'$0*/$**,/ fi

Established 25 years High returns Recurring revenues Rapid growth $100,000 plus income

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

CALL 250-804-3080

Each office is independently owned and operated.

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KAMLOOPS & AREA Excellent investment opportunity!

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...IN LAC LE JEUNE, BC. Only 3 hrs from Vancouver, 20 min from Kamloops.

10 yr old exceptionally well kept timber frame home boasts 3,000 sq. ft. ďŹ nished. Radiant ďŹ&#x201A;oor heating in etched concrete ďŹ&#x201A;oors. 3 bathrooms, gas ďŹ replace, jetted tub, great lake views, outdoor sauna, large double heated garage. All on 1 fenced acre. Fishing, boating, swimming, biking, hiking, skiing etc.

"All at your doorstep." Price $499,000 ================================= 3.88 ACRES HIGHWAY FRONTAGE Hwy. AF-1 zoning allows for fruit stand & residence.

Water irrigation from river. Great view.

Price $450,000 ================================= REVENUE PRODUCING PROPERTY 5,000 sq. ft. single level building with 10' high ceiling. 0.5 acres fronting on #1 Highway. OfďŹ ce space plus large open area. Zoned Light Industrial.

Existing tenancy until November 2011.

Price $300,000

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$1,700,000

15 UNIT APARTMENT BLOCK centrally located in downtown core of Salmon Arm. Close to all amenities with lake views. Building has had a major renovation in 2010 worth in excess of $700,000 with new windows, hardie siding, elec., roof and more.

Zero% vacancy with long term tenants.

strategies (Highest & Best Use- strip mall/motel/hotel). $1,550,000

www.shuswaphomesearch.com

Garth Lord, P.Eng. Personal Real Estate Corp. ÂŁĂ&#x160;nnnÂ&#x2021;Ă&#x2C6;Ă&#x2021;Ă&#x2C6;Â&#x2021;Ă&#x201C;{Ă&#x17D;xĂ&#x160;Ă&#x160;UĂ&#x160;Ă&#x160;ÂŁĂ&#x160;Ă&#x201C;xäÂ&#x2021;nĂ&#x17D;Ă&#x201C;Â&#x2021;Ă&#x2021;äxÂŁĂ&#x160;Ă&#x160;UĂ&#x160;Ă&#x160;glord@remax.net

COURT ORDERED SALE 7981 Silver Star Rd UĂ&#x160;Ă&#x2C6;nää³Ă&#x160;Ă&#x192;ÂľĂ&#x160;vĂ&#x152;Ă&#x160; Ă&#x2022;Ă&#x192;Ă&#x152;Â&#x153;Â&#x201C;Ă&#x160; Â&#x153;}Ă&#x160; Â&#x153;Â&#x201C;iĂ&#x160;Â&#x153;Â&#x2DC;Ă&#x160;x°äĂ&#x160; Ă&#x152;Ă&#x20AC;ii`Ă&#x160;>VĂ&#x20AC;iĂ&#x192;°Ă&#x160; UĂ&#x160; Â&#x2C6;Â&#x2DC;Ă&#x2022;Ă&#x152;iĂ&#x192;Ă&#x160;Ă&#x152;Â&#x153;Ă&#x160;-Â&#x2C6;Â?Ă&#x203A;iĂ&#x20AC;Ă&#x160;-Ă&#x152;>Ă&#x20AC;Ă&#x160;Ă&#x192;Â&#x17D;Â&#x2C6;Ă&#x160;Â&#x2026;Â&#x2C6;Â?Â?Ă&#x160;>Â&#x2DC;`Ă&#x160; `Â&#x153;Ă&#x153;Â&#x2DC;Ă&#x152;Â&#x153;Ă&#x153;Â&#x2DC;Ă&#x160;6iĂ&#x20AC;Â&#x2DC;Â&#x153;Â&#x2DC;Ă&#x160; °Ă&#x160;

For More Details Contact

BILL ALBERS RE/MAX Kamloops, BC

RE/MAX Shuswap

EXCEPTIONAL OKANAGAN PROPERTY

UĂ&#x160;Ă&#x2C6;Ă&#x160;L`Ă&#x20AC;Â&#x201C;Ă&#x192;Ă&#x160;>Â?Â?Ă&#x160;Ă&#x153;Ă&#x2030;Ă&#x160;iÂ&#x2DC;Ă&#x192;Ă&#x2022;Â&#x2C6;Ă&#x152;iĂ&#x192;°Ă&#x160;

JOHN KRISTIAN

250-374-3331

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($/..$*.+$***(

15-SUITE APARTMENT BLOCK

RECREATIONAL GET AWAY...

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SALMON ARM, B.C.

250.549.4161 6 , "

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john@vernonhomes4sale.com Ă&#x160;Ă&#x160;Ă&#x160;$995,000

Each office is independently owned and operated.

Northern British Columbia B11

WESTERN INVESTOR APRIL 2011 www.westerninvestor.com

DAWSON

Do you have a

CREEK

www.dawsoncreekrealestate.ca

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

VOJRVF QSPQFSUZ

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

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

#9987 - 1380 SQ FT SHOP/OFFICE SPACE 1380 sq ft shop/office space, 2 main bays 30 x 30 and additional 16 x 30 bay. Each bay has separate entrance washroom, 200 amp electrical and furnace. Paved parking lot, fenced compound and additional lot adjacent is included in the asking price of $255,000.

Advertise your listings in our special

)05 1301&35*&4 feature.

#9953 - RETAIL BUILDING Great location on 10th St over 3,000 sq ft on main and additional 3,000 sq ft on second floor, located next to Scotia Bank, immediate possession available. Asking price of $375,000

Reach potential buyers with money to spend.

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

#9952 - FOR SALE OR LEASE Multi-purpose building, could have 4 separate units. Total of over 12,000 sq ft, upgrades include updated roof and furnaces Asking price is just $397,000

#9034: HILLSIDE VILLAS (22 SOLD- ONLY 2 LEFT) Brand new condos (total 1,917 sq ft each), 6 appliances, 2 bdrms & den up, full bsmt, well priced at $199,000+ $209,000. Great location & view of Dawson Creek, would make an excellent rental. Last phase & only 2 units left. Available immediately!

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

Priced at $795,000 or 17.50 sq ft to lease.

#9690: INDUSTRIAL LAND - 27 acres of Industrial land on Bi-Pass (Dangerous goods) Highway. Approx 5 acres already fenced & graveled, all services are available, over 1000 ft of Highway frontage. Prime location across from the new Cal-Frac location & the Ferus nitrogen plant.

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

L A N D

ED

LEAS

Recreational Real Estate ADVERTISING FEATURE:

#9635: RESIDENTIAL DEVELOPMENT LANDS, 3 separate parcels 25, 79 and 116 acres. Superb location, the timing is right as we are expecting thousands of new people in the near future. #8077: ONE ACRE OF MULTIPLE RESIDENTIAL LAND suitable for 37 unit apartment or condo complex.

Across from the hospital in a prime residential area of Dawson Creek. $179,000

#9593: COMMERCIAL BUILDING WITH BEER AND WINE STORE for sale (gross sales of $2,000,000).

Great location in Dawson Creek, also 40 apartments, bar/restaurant area and commercial space.

Asking $3,500,000. Call for more info. #9257: THE SOUTH PEACE UNITED CHURCH IS FOR SALE. OVER 11,000 SQ. FT. - Sanctuary, hall, kitchen, offi ces, and support services. Excellent corner location, zoned commercial, very good condition, ready for an offi ce conversion. #7545: NEW STRIP MALL has 4 available spaces left for lease, 1,750 sq ft each. Great location on 8th street between Tim Horton’s & The Brick.

Lease rates start as low as $16/sq. ft Start your business here.

Èä{ ÈÈ nxääÊUÊ£ nää ÈÈ£ È nn advertise@westerninvestor.com

#7836: SUBDIVISION FOR MOBILE HOMES! Total of 39 mobile lots are possible on this 4.6 acres, zoning in place, some services are already in, 3 lots have been subdivided. Call for more info. Asking $300,000 #8755: STRATA LOT. Excellent location for a restaurant or high exposure franchise. Land only services plus paved parking for this 1/2 acre strata lot. Location is between the Pomeroy Hotel and Best Western overlooking the highway. Asking $295,000 #7066: LOCATION, LOCATION, LOCATION 0.74 acres at the intersection of 17 Street and Alaska Highway. Ideal location for strip mall, service station, etc. #7441: 80 ACRES OF INDUSTRIAL LANDwith highway frontage, railway tracks, water and sewer in the City of Dawson Creek. Asking $31,250 per acre

$42 could make you millions!

Western Investor readers tell us: "I am looking for a business and I read it cover to cover. It keeps me up to date on what's for sale and I also pick up some tips in every issue. Keep up the good work."

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haven't found the right thing yet, but your paper is an asset to us in our search."

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4VCTDSJCF SUBSCRIPTION RATES ❏ One Year ..................$42 ❏ Two years ................$75

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

B12 Northern British Columbia

www.westerninvestor.com APRIL 2011WESTERN INVESTOR

Sicamous, BC

.05&-

FORT. ST. JOHN

Multi-Unit Residential

'03 4"-&

LOCATION, LOCATION, LOCATION!

10 Unit Residential Townhouse Property.

Gross revenue of $88,800/yr.

Annual expenses: taxes $5,080, water/sewer $4,000, insurance $950.

Asking $890,000 (sold in 2007 for $1,000,000).

Potential to stratify units for resale.

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Email tekamar@telus.net or call 1-800-658-2345

"TLJOH 4IBSF 4BMF

FOR LEASE OR SALE

10611 - 100th Ave

9924 - 101st Ave

5000 sq ft free standing building for LEASE offering a high trafďŹ c corner location. $22.00/ sq ft + triple net MLS# N4504645

Fantastic location in the downtown core. C-2 Zoning.

Recent renos include new torch-on roof, air conditioner, & ďŹ&#x201A;ooring. $15/ sq. ft. or $$499,000 MLS# N4504610

VERY ATTACTIVE PACKAGE

MOVE YOUR BUSINESS HERE!

9676 - Swanson Street

10016 - 106th Street

NORTHEAST BC REALTY Ltd.

2 shops, newest shop is 40x75, 2-14â&#x20AC;&#x2122;,Original shop is 30 x 40 with a 24 x 40 addition for ofďŹ ce & parts room plus a 24 x 40 2nd ďŹ&#x201A;oor for ofďŹ ces. $899,900 - MLS# N4503760

Great ofďŹ ce building w/attached shop for a small business. 3 OfďŹ ces + a walk-thru ofďŹ ce. 2 baths, upgraded ďŹ&#x201A;ooring and paint. Shop has 2 overhead furnaces & 3 phase wiring. $340,900 - MLS# N4504196

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

RELOCATE & EXPAND HERE!

HIGHWAY FRONTAGE

$BMM "MFY !

Phone 250 785 4115

Located at 9912-100 Avenue Fort St John BC V1J 1Y5 www.northeastbc.com F: 250 785 4120 RON RODGERS - OWNER / MANAGING BROKER

FOR SALE - FORT ST JOHN BC

Mini Storage Complex

9929 - Swanson Street

10688 Alder Rd.

56,000+/-sf 257storage unit compound on 3.93 acres consisting of 2 large buildings.

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

Rural pub/liquor store/restaurant available for sale just minutes from town. 65 seat pub, 25 seat patio all on 4.36 acres located in a commercial/ residential area. $1,500,000 MLSÂŽ# N4504250

Potential business growth can derive from the development of approximately 7,000sf of unused storage units on the 2nd floor of main complex.

In addition, the adjacent 7.65 acres could be used for additional RV storage, camping/picnic grounds, cold storage building units or held for future expansion!

KATHY MILLERCURTIS ROBINSON PERSONAL REAL ESTATE CORPORATION

Remax Action Realty 1991 Inc.

kathy@bugkathymiller.com curtis@remaxaction.ca

Total property size 11.58 acres directly off Alaska Highway within City Limits!

ASKING $3.88 Million

MLSÂŽ N4504616

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

NO DROP INS

Call Ron for information package or to arrange to view

The Power Of Partnership!

Note: CONFIDENTIALITY AGREEMENT MAY BE REQUESTED Prior to release of information

â&#x20AC;&#x201D; Your PRINCE GEORGE Commercial Professionals â&#x20AC;&#x201D; 7.5% Cap Rate

9242 Milwaukee Way 23,240 sq ft Industrial Building on 3.88 Acres.

FOR SALE

481 â&#x20AC;&#x201C; 3rd Ave. ........................... N4504633 .............Light Industrial..........................$400,000.00 1550 - 1st Ave .................................. N4504391 ............44,080 sq ft warehouse ................$3,750,000.00 1440 - 2nd Ave ..................................N4504001 ...............5,386 sq ft ofďŹ ce ............................$450,000.00

1440 â&#x20AC;&#x201C; 2nd Ave. Quality extremely well maintained 5,386 sq ft OfďŹ ce Building. Professional Tenants.

â&#x20AC;&#x153;The Bridal Outletâ&#x20AC;? .............................. N4504557 ..............business only ..................................$125,000.00 9242 Milwaukee Way ....................... N4504594 ..............23,240 sq ft warehouse................$2,300,000.00 2493 Perrin Heights .............................. N196245 ..............Residential land................................. $45,000.00 "Bee Lazee RV Park". ..........................N4504404 ...............Business/land/buildings .................$1,500,000.00 2222 Balsam Ave. â&#x20AC;&#x201C; Quesnel ............ N4504291 ...............14,000 sq ft warehouse/ofďŹ ce ...........$779,000.00 9368 Milwaukee Way ......................... N4504301 ...............31,640 sq ft warehouse ................ $2,500,000.00

8% Cap Rate

1921 Upland St. Exceptional 12 unit apartment building.

9 units fully renovated. Good location, well maintained property. 8% Cap Rate.

1921 Upland St...................................N4504330 ..............12 unit multi-family .......................... $850,000.00 508 George St. ................................ N4504232 ...............retail (restaurant) .......................... $2,000,000.00 'Domano Florists' ................................N4503630 ...............Business Only ..................................$120,000.00 971 Hart Hwy .................................... N4503912 ...............Land - 5.02 Acres ................................PENDING

678 Vancouver St. FOR LEASE â&#x20AC;&#x201C; 1,985 sq ft top quality secondďŹ&#x201A; oor OFFICE space. 6 ofďŹ ce, meeting room, lunch room & common area.

Lot #1 Atwood Rd. ..............................N4504036 ..............Land - 78.8 Acres ........................... $850,000.00 4986 Hartway Dr................................N4504045 ...............Land - 0.31 Acres.............................. $80,000.00 5008 Hartway Dr ...............................N4504046 ...............Land - 0.263 Acres............................ $70,000.00 Fraser Lake, B.C. ..........................N4504181-4194 ..............Land .................... Industrial/Commercial varying Chief Lake Rd...................................... Sub-lakeshores land ...................................................$20-35,000.00 26485 Telegraph Rd. â&#x20AC;&#x201C; Vanderhoof .... N4504362 .............539 Ac. Residential ....................... $700,000.00

9080 Penn Rd.

996 Central St. ................................... N4504419 ..............LAND ............................................ $190,000.00

FOR LEASE â&#x20AC;&#x201C; 25,660 sq ft quality warehouse located in the Danson Industrial Park. 24â&#x20AC;&#x2122; ceilings, 6 loading docks, 1 ramp, 7 -14â&#x20AC;&#x2122; O/H doors, 4 man doors, ofďŹ ces & a large fenced compound.

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

26485 Telegraph Rd. â&#x20AC;&#x201C; Vanderhoof, B.C.

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

Ideal wildlife viewing/hunting property. 5 km of quad trails. 90 Acres cultivated. 2 miles of Nechako River front on west side & one mile on east side. Gravel deposit & two residences.

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

FOR LEASE

3131 Westwood Dr. .................... N4504410 .............1,200 sq ft. ....................................... RETAIL Unit #203 1396-5th Ave. ..............N4504662 .............1,955 sq ft ....................................... OFFICE 481 - 3rd Ave ............................. N4504221 .............5,526 sq ft + 2,976 sq ft ............ INDUSTRIAL 466 - 2nd Ave. ................... N4504564 & 68 .............565 & 4,500 sq ft ........................... OFFICE 9080 Penn Rd ............................ N4503984 .............25,660 sq ft ...........................WAREHOUSE 678 Vancouver St ...................... N4504034 .............1,985 sq ft ................................... PENDING River Rd.

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

3055 McGill Cres ........................N4504566 .............1,112 sq ft ....................................... OFFICE Suite#251 â&#x20AC;&#x201C; 1515 -2nd Ave...........N4504558 .............1,500 sq ft ..................................... OFFICE 770 Brunswick St. ........................N4504602 .............492 sq ft ..................................... PENDING

250-961-5478 RE/MAX Centre City Realty

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

KEN Goss

GEORGE Weinand

250-565-7653

250-960-9556

B13

WESTERN INVESTOR APRIL 2011 www.westerninvestor.com

RECREATION FEATURE Owners look for investors to jump-start West Coast residential and resort projects

ings, engineering and survey drawings, marketing materials, a business plan, accounting and other management operating systems,â&#x20AC;? she added. There is even large, fully furnished showhome that can be rented to a developer for a sales suite. The site has commanding ocean and island views.

The asking price is $2.95 million, which Gadsby noted is about the price of a duplex on Vancouverâ&#x20AC;&#x2122;s West Side. She is willing to consider a joint venture with the right investor.

4UBMMFE EFWFMPQNFOUT TFFL WJTJPOBSZ CVZFST FRANK Oâ&#x20AC;&#x2122;BRIEN WESTERN INVESTOR he broad wake of the 2009 recession receded to reveal some potentially promising investments along B.C.â&#x20AC;&#x2122;s waterfront: partially finished, fully approved developments that mistimed the last buyer wave or got caught with restrictive lending.

/BOBJNP

(TOP) Seaview Villa Estates in West Sechelt: stunning ocean views from development that has zoning in place for 40 more strata homes.

Asking $2.95 million. (RIGHT) Whiskey Landing at Ucluelet: vacant since 2008 with 24 condos, retail space. Asking $2.5 million.

developments on the west coast of the Island, one the second phase of a condo project that went for $440,000; and a five-acre waterfront resort and marina â&#x20AC;&#x201C; where the owner went into receivership with resort approvals and plans in place â&#x20AC;&#x201C; for $3.5 million. The sudden interest from investors is â&#x20AC;&#x153;surprisingâ&#x20AC;? Gray admitted.

4VOTIJOF $PBTU

It is a surprise that would be welcomed by other property owners.

Developer Joan Gadsby, an author, marketing professional and former North Vancouver councillor, is trying to find a buyer to take over or joint venture with her on Seaview Villa Estates, an oceanview development in West Sechelt on the Sunshine Coast. This is not a

Photo: Judy Gray

Some are in receivership, others are just waiting for a new investor or joint venture partner to come in and finish the project.

The timing now seems right.

According to both Central 1 Credit Union and Landcor Data, B.C.â&#x20AC;&#x2122;s recreational and rural real estate markets could begin a recovery this summer with a true uptick coming within two years.

On Vancouver Island and the southern coast, total residential sales will spike 15 per cent in 2013, following gains of 8 per cent this year and 3 per cent in 2012, forecasted a recent Central 1 report. â&#x20AC;&#x153;That is all just guesswork and golly,â&#x20AC;? sniffed pragmatic veteran realtor Judy Gray of Re/ Max Commercial in Ucluelet, but she agreed that investors are now looking closely at West Coast development parcels that have sat idle for two years or more.

An example is the failed Whiskey Landing mixed-use project on the Ucluelet waterfront.

Vacant since 2008, it now has residential warranty insurance in place; the commercial strata are mostly sold; 24 condos are complete; and there is adjacent land to build on. It needs remediation work and an engineering report to proceed. Gray has it listed at $2.5 million. â&#x20AC;&#x153;In the past three or four weeks, we have begun to get serious offers,â&#x20AC;? she said.

Earlier this year, Gray sold two other stalled

Photo: Joan E: Gadsby

5

recreational property, but a residential development where existing owners live full time, Gadsby said.

It is currently being redesigned for smaller residential units, but includes 11 penthouses.

Three years ago, Gadsby sold out Phase 1 â&#x20AC;&#x201C; eight of a planned 48 townhomes â&#x20AC;&#x201C; at the project. â&#x20AC;&#x153;Then the recession hit,â&#x20AC;? she said.

Currently Seaview Villa Estates has two acres of land available for the planned Phases 2 to 4.

Seaviewâ&#x20AC;&#x2122;s site has municipal zoning for 40 more housing units and already has 90 per cent of the underground services in place, Gadsby, president and owner of Seaview Villa Estate Ltd., said. â&#x20AC;&#x153;The price includes all architectural draw-

Back on Vancouver Island, Dale Shortt of Re/ Max Ocean Pointe Realty said he is getting many more â&#x20AC;&#x153;tire kickersâ&#x20AC;? looking at a number of stalled development sites. â&#x20AC;&#x153;I have had more calls on these since January than I have had in two years,â&#x20AC;? he said.

Perhaps his best deal is a 26-unit condo oceanview site on one acre, with municipal approvals in place, in north Nanaimo. He is offering it at $729,000 under a court-ordered sale. Another foreclosure is a nine-acre subdivision zoned for at least 28 single-family homes. Once priced at $1.4 million, it is now listed at $995,000.

His prized listing is an oceanview site in downtown Nanaimo zoned for 34 condos, with development cost charges waived, that overlooks the cruise ship pier. The asking price is $729,000, which works out to be about $21,000 per door for land costs, consider fairly low. â&#x20AC;&#x153;I am surprised I havenâ&#x20AC;&#x2122;t received an offer on that one yet,â&#x20AC;? Shortt said.

He noted that, once the current inventory of about seven parcels is taken up, there will be few development sites zoned and ready to go in Nanaimo, where the housing market has already begun a slow recovery.

A few miles north of Nanaimo, Dave Hammond of Re/Max Nanaimo is offering a 571-acre development property, with ocean views, that is approved for 590 building lots.

Being sold under a court order, the asking price is $19.5 million.

With an apparent uptick in coastal real estate underway, it may be time for investors to jumpstart stalled projects, Shortt said. â&#x2014;&#x2020;

/PSUIFSO #SJUJTI $PMVNCJB

HOTEL

PRINCE GEORGE

Prince George, BC

opportunities

Price $8,900,000.00

Invest in your future Two waterfront properties Ideal for recreational/residential development

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

Parcel 1 - 55 acres, 3 titles $545,000 approx 1650â&#x20AC;&#x2122; of lakefront, easy access Parcel 2 - 26 acres, 2 titles $365,000 approx 1450â&#x20AC;&#x2122; of lakefront, hwy access Riverfront townhome site $575,000 1.76 acres - approx 263â&#x20AC;&#x2122; of riverfront zoned RM1 - multiple residential preliminary drawings for 13 THâ&#x20AC;&#x2122;s on file 13 Lots - 1.1 acres, zoned residential strategically located adjacent to Connaught Hill Park - walk to downtown possible rezoning potential Prime high profile location $789,500 Hwy access near Costco & Future Shop 3664 sq ft building on 1/2 acre lot zoned M3 - Business Industrial

Elaine Kienzle 250

FORT ST JOHN FOR SALE STRIP MALL s !PPROXIMATELY SQ FT s &IVE SPACES 'ROSS INCOME PER YEAR

s 4OTAL EXPENSES 4AXES INSURANCE MANAGEMENT APPROX

s !SKING PRICE

ASSET SALE OR

SHARE SALE Call Sterling Management Services Ltd 250-785-2829 Ask for Robert Herman robert.herman@sterlingmgmt.ca

Burns Lake

BUSINESS OPPORTUNITY

For Sale

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

Great Investment Opportunity Burns Lake and Area Representative

DENNIS BOCK

563-8769

www.elainekienzle.com

PRINCE GEORGE

250-692-3530 www.landahome.ca

B14 Northern British Columbia/Alberta Grocery Store For Sale

Busy neighbourhood grocery store with a full deli, bakery and produce.

Located in Prince George, BC. Sale includes business, property and the building.

Interested? Please call:

250 964 9060 and leave message

5&33"$& */%6453*"- #6*-%*/(

www.westerninvestor.com APRIL 2011WESTERN INVESTOR

160 Acre Subdivision For Sale â&#x20AC;˘ SELLING UNDER APPRAISED VALUE â&#x20AC;˘ 10 min from the "2011 Boom City" of Grande Prairie, AB â&#x20AC;˘ Serviced Residential and Commercial Lots â&#x20AC;˘ New school in subdivision (K - 12) â&#x20AC;˘ Vendor ďŹ nancing possible â&#x20AC;˘ Partnership on development possible with qualiďŹ ed investor/ developer

CONTACT DEVELOPER DIRECT:

780.396.9487 INDUSTRIAL BAYS FOR SALE/LEASE "WBJMBCMF JO UIF 5BJHB /PWB *OEVTUSJBM 1BSL 'PSU .D.VSSBZ TR GU UP TR GU "7"*-"#-& /08

s SQ FT FOR 3ALE OR ,EASE s SQ FT OF /FlCE SALES SPACE s ,ARGE SHOP WITH FT DOORS s TON CRANE WITH CRANEWAY s 7AREHOUSE AREA s #ENTRAL LOCATION WITH HIGHWAY FRONTAGE s ACRES s !SKING $950,000 s ,EASE RATE SQ FT #ONTACT Wesley Coelho 0HONE (604) 886-2212 %MAIL WES COELHO GMAIL COM

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

EDMONTON LAND 130 acres +/- zoned rural residential - 70% level grass & pasture, bal. woodland grazing.

Presently decommissioned game ranch, cadillac fencing & livestock handling equip w/40x80 shop & living quarters. Could be livestock, cattle/ horses/exotics or private estate situated on twinned highway 5 miles west of West Edmonton Mall. Airstrip presently being developed, super grass, fencing, privacy or develop to suit market.

For More Information Contact:

BOBCAT DEVELOPMENT 780-722-4156 Pam Gill

(780) 455-4088

www.apartmentsinedmonton.com

EDMONTON APARTMENT PROPERTIES

6 SUITES, Cromdale - $575,000 6 SUITES, NAIT 9 SUITES, Inglewood - $850,000 12 SUITES - Westend 16 SUITES - North 16 SUITES + COMMERCIAL - North 20 SUITES Cromdale - $1,960,000 21 SUITES - Cromdale 22 SUITES, Downtown - $2,420,000 30 SUITES, Westend - $2,900,000 30 SUITES - Westmount NEWER WAREHOUSE, 1455 sq. ft $369,000 For full Proformas, Call or Email gillp@sutton.com PH: (780) 455-4088 Fax: (780) 455-4048 www.apartmentsinedmonton.com Sutton Central Commercial sutton central commercial real estate AN INDEPENDENT MEMBER BROKER

LAWRENCE STEINKE Specializing in Apartment Sales Since 1975

STEINKE AND COMPANY REALTY LTD. PH: (780) 447-9009 Fax # (780) 447-9008 Email: steinkeandcompany@gmail.com

IF YOU HAVE SPECIFIC REAL ESTATE NEEDS, CALL US... WE CAN FIND THE PROPERTIES YOU NEED! We have several apartment and condo buildings from 6 units to 100 units. Price ranges and locations vary across Edmonton. Call or email us for further information The following are a brief selection of the properties we have available right now. More are only a phone call away.

APARTMENTS FOR SALE IN EDMONTON

â&#x20AC;˘15 Suites, walking distance to NAIT, Strata Title not registered ............................... $1,500,000 â&#x20AC;˘33 Suites, 2 blocks to Grant MacEwan College, OFFERS ......................................... $3,500,000 â&#x20AC;˘21 Condominium Units Westend ........................................ $2,835,000 â&#x20AC;˘38 Suites, great suite mix plus additional land ...................................................... $4,600,000

COMMERCIAL / INDUSTRIAL FOR SALE

â&#x20AC;˘ 4 QUARTERS of land approx., 40 miles NW of Edmonton. Must be sold together ........................................Total Price $600,000 â&#x20AC;˘ NEW, 10 Condo Warehouse just west of Edmonton, 2,000 sq. ft. bays and mezz. ..................................................$350,000/bay â&#x20AC;˘ NEW, SPRUCE GROVE 3 remaining Condo Warehouses. 1,700 sq. ft. bays, great curb appeal ..................................................$334,900/bay â&#x20AC;˘ NEW, Zoned Industrial / Business, Development Site, Westend Edmonton, 1.6 Acres .....................................................$1.3 Million â&#x20AC;˘ COLD LAKE, AB, 2 - Retail / OfďŹ ce Strip malls: One - 2 storey 10,000 sq ft @ $590,000; One - 1 storey Retail 7000 sq ft @ $725,000

Call LAWRENCE Ph: (780) 447-9009 steinkeandcompany@gmail.com

INVEST IN FT. SASKATCHEWAN

FOR ONLY $375,000+GST

8 6 CONDO WAREHOUSE BAYS AVAILABLE! 2,000 sq. ft. Main Floor & 500 sq. ft. Mezzanine.

14' Overhead Door & Warehouse Sump.

85% Financing to Owner/User

COME INVEST IN YOUR FUTURE

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

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

www.property-solutions.ca

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

Look Here For

Your Next Investment Opportunity MISSION - 7 ACRES - $779,900 REDUCED IMMACULATE equestrian setup on a secluded and serene fertile acreage with access to small waterway for ďŹ shing, relaxing and eagle spotting. Renovated basement entry with beautiful maple kitchen, bay carousel eating area with million dollar mountain view, liv. rm, 3 large bdrms, 2 baths and room for extended family down with 2 bdrms, bath and kitchen.6 stall barn, 3 stall shedrow, 100 x 200 outdoor ring, 30 x 38 workshop, hay producing ďŹ eld plus grass and sand turnouts for horses. The property is fenced and xfenced and groomed to make your transition here effortless. Potential to run bed/bale/breakfast in this great location. You will not ďŹ nd any ďŹ&#x201A;aws here - call today to view.

ABBOTSFORD - 2.5 ACRES - $699,900 Located in the charming community of Arnold this diverse property will suit no matter what your needs are. All ďŹ&#x201A; at and usable and set up to house up to 14 horses, with two barns, turnouts, riding ring all drained and gravel footing. The home is a 7 bedroom basement entry well maintained with large kitchen to open dining and family room area and separate living room with beautiful red brick ďŹ replace (previous owner was a professional mason). Nothing left to do except move everyone in and enjoy. Easy to view - this is priced to sell fast. You will be impressed.

IRON CREEK LODGE - REDUCED $649,900 50 Acres â&#x20AC;&#x201C; Located at the B.C. Yukon border, on Iron Creek Lake which is stocked by the govâ&#x20AC;&#x2122;t with rainbow trout. Facilities overlooking the lake include service station, 2 storey lodge with 50 seat restaurant, full kitchen, living quarters upstairs, 8 room motel, 2 room log cabin, 20 serviced R.V. sites...the list goes on. All buildings and services were installed from 1992 to present with approvals and built to code. Steady clientele with tour buses, car, truck and camping trafďŹ c, ďŹ shermen, hikers, snowmobilers, cross country skiers and local trafďŹ c. Priced to sell. Call for a full information package.

3!,-/. 6!,,%9 2!.#( s 02).#% '%/2'% !#2%3

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

For Professional, Personal and Prompt Service Call...

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

Alberta B15

WESTERN INVESTOR APRIL 2011 www.westerninvestor.com

CAPITALIZE

ON EXPERIENCE BARCLAY STREET REAL ESTATE INVESTMENT OPPORTUNITIESFROM

FOR SALE

3 STOREY APARTMENT BUILDING

SITE: ±5,798 SQ. FT. PROPOSED RESTAURANT BUILDING FOR SALE ON 17TH AVENUE SW, CALGARY SITE: ±4,933 SQ. FT. 1428 – 17th Avenue SW, Calgary, Alberta

• • • •

Two-storey restaurant with basement and rooftop patio Prominent corner location of 14th St and 17th Ave SW 47,000 cars drive by daily Price $2,500,000.00 for land and Development Permit pending release

1734 10th Street SW, Calgary, Alberta

• Fully leased and tenanted • only half-block from vibrant 17th Avenue SW • 14 one-bedroom suites, 1 two-bedroom suite, • Close to transit, grocery, restaurants For more information or to view, please contact:

For more information or to view, please contact: JEFF ROBSON jrobson@barclaystreet.com

FOR SALE

EARL ADELMAN

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

eadelman@barclaystreet.com

INDUSTRIAL/FOOD PROCESSINGFACILITY

FOR SALE

INDUSTRIAL/FOOD PROCESSINGFACILITY

53,233 SQ. FT.

35,381 SQ. FT.

4211 13A Street SE, Calgary, Alberta

4043 Brandon Street SE, Calgary, Alberta

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

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

For more information or to view, please contact: GREG ALBRIGHT galbright@barclaystreet.com

COMMERCIAL REAL ESTATE

SOLUTIONS

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

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

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

galbright@barclaystreet.com

Office, Retail, Industrial

Land, Investment

SALES AND LEASING

SALES

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

Property Management

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

WWW.BARCLAYSTREET.COM

B16 Alberta

www.westerninvestor.com APRIL 2011WESTERN INVESTOR

GREAT INVESTMENT OPPORTUNITY LOOKING FOR FINANCIAL PARTNER TO COMPLETE A LAND

Medical/Professional Space for Lease

DEVELOPMENT PROJECT THAT IS: 60% COMPLETE WITH A RETURN OF 15%

THIS IS SHOVEL READY AND CAN BE COMPLETED THIS YEAR! 25 LOTS PRESOLD!

FOR MORE DETAILS,

CONTACT SHUKRY AT

780-446-9642

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

115 Haddow Close NW, Edmonton, AB

Prestigious Riverbend/Terwillger Location!

This facility is equipped with all of the features and amenities you need to succeed. Nearby pharmacy, rec centre & major trafďŹ c throughways offer great exposure! Great space for Doctor ofďŹ ce, Insurance Brokerage, Real Estate OfďŹ ce, Lawyerâ&#x20AC;&#x2122;s ofďŹ ce and or Accountant !!! 1295 sf, 3 - 5 yr lease preferred. $28 per sq. ft. plus $15.50 operating costs utilities & janitorial not included.

Please Call Michele Warwa-Handel

780-464-7700

EMAIL: SHUKRY@TELUS.NET

REALTY EXECUTIVES DEVONSHIRE (THE PARK)

VISIT: WWW.RUBYHILLS.COM

www.realtyforyou.ca

ALBERTA IS AGAIN MOVING! MOTELS & HOTELS

â&#x2030;ĽPROVOST Brand new 44 unit motel. Asking

$4.5M. (These motels can be bought as a unit or separately CAMROSE 40 unit motel showing Good revenue.

Asking $2.9M. REDUCED TO 2M CAMROSE 20 unit motel, (nice Ma & Pa operation) upgraded and very clean, Asking $1.2M. HARDISTY New 44 unit Motel to open in early 2011. Phone for details.

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

â&#x2030;Ľ â&#x2030;Ľ â&#x2030;Ľ â&#x2030;Ľ

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

â&#x2030;Ľ CAMROSE ALBERTA68 room, full services Hotel.

REDUCED - NOW $5M. â&#x2030;Ľ FULL SERVICES63 Unit Motel with Restaurant,

tSingleand multi-family residential developments

tCo mmercial, industrial and retail developments

t

Refinancing / acquisitions

t

Construction / land servicing

t

Bridge loans

t

Income producing properties

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

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

OTHER INVESTMENTS

â&#x2030;ĽDAYSLAND Convenience store and Gas Bar., â&#x2030;Ľ

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

ROUND HILL ALBERTAFully renovated and expectionally clean hotel with tavern, 8 rooms, pool table, Lg TV screen, kitchen facilities. Great Ma and Pa operation. Asking $550,000.

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

Avison Young Real Estate Alberta Inc.

partnership. performance.

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

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

780.428.7850

minutes north or red deer, ab

industrial lots for sale or lease

â&#x20AC;˘HEAVY INDUSTRIAL ZONING, FULLY SERVICED $220k - $250k allowing for a wide range of uses per acre â&#x20AC;˘Moments north of the city of Red Deer â&#x20AC;˘Situated on the east side of Highway 2A north of Secondary Highway 597, - the main route to Joffre â&#x20AC;˘Easy access via Highway 2, Highway 2A or Highway 597 â&#x20AC;˘Turn key design build or build-to-suit packages available â&#x20AC;˘Rare opportunity to own stripped and graded lots from 2.20 acres to 40 ac.

PLEASE CONTACT: BLACKFALDS INDUSTRIAL PARK INC. FOR FURTHER DETAILS

403-701-4273

HOTEL OPPORTUNITIES '&"563&% )05&Â&#x2026; 300.4 '-"((&% )05&- XJUI MFBTFE SFTUBVSBOU BOE MPVOHF OFX (BNJOH 3PPN -JDFOTF BMMPXJOH GPS BO JODSFBTF UP 7-5T NFFUJOH BOE DPOGFSFODF GBDJMJUJFT CVTJOFTT DFOUSF žUOFTT SPPN BOE HVFTU MBVOESZ /VNFSPVT VQHSBEFT DPNQMFUFE BOE WFSZ XFMM NBJOUBJOFE "EEJUJPOBM JODPNF GSPN UFOBODJFT 5IF JODSFBTJOH CVTJOFTT USFOE JO UIJT TUSPOH DPNNVOJUZ DPNCJOFE XJUI UIF SFWFOVF QSPTQFDUT UIBU B OFX (BNJOH -JDFOTF CSJOHT QSPWJEFT UIF JOWFTUPS B DPOTJEFSBCMF MJGU 5JHIUMZ QSJDFE BU Â&#x2026; 300.4 XJUI SFOUBM JODPNF GSPN MFBTFE SFTUBVSBOU MPVOHF XJUI 7-5T BOE MJRVPS TUPSF "NFOJUJFT JODMVEF HVFTU MBVOESZ BOE XJSFMFTT JOUFSOFU -PDBUFE PO NBKPS UIPSPVHIGBSF JO NJE TJ[FE NBSLFU "TLJOH Â&#x2026; /&8 )0-*%": *// 300.4 XJUI MFBTFE PVU GSBODIJTFE SFTUBVSBOU 4USPOH NBSLFU MPDBUJPO PO NBJO BSUFSZ POMZ NJOVUFT GSPN EPXOUPXO DJUZ DFOUSF 5IJT JT UIF POMZ GVMM TFSWJDF IPUFM JO UIF WJDJOJUZ UIBU TFSWJDFT UIF JOEVTUSJBM BSFB B OFX NJMMJPO TQPSUT DPNQMFY BOE JT UIF žSTU IPUFM GSPN UIF BJSQPSU "NFOJUJFT JODMVEF NFFUJOH SPPNT žUOFTT DFOUSF BOE QPPM 7FSZ HPPE PQFOJOH OVNCFST "TLJOH Â&#x2026; -*.*5&% 4&37*$& 300.4 JO NJE TJ[FE DFOUSF UIBU JT SBNQJOH CBDL VQ "NFOJUJFT JODMVEF QPPM IPU UVC žUOFTT SPPN BOE NFFUJOH GBDJMJUJFT 5IFSF JT B DMFBS BOE QBJOMFTT QMBO BWBJMBCMF UP CSJOH WBMVF UP UIF OFXJTI BTTFU ° DBMM BOE XFÂľMM UFMM ZPV "TLJOH Â&#x2026; 300.4 JO B NBKPS DFOUFS UIBU XJMM TFSWJDF POF PG UIF MBSHFTU JOEVTUSJBM EFWFMPQNFOUT BOOPVODFE JO "MCFSUB 5IJT OFX QSPQFSUZ JT B QMFBTVSF UP TIPX XJUI UPQ HSBEF FOFSHZ FGžDJFOU DPOTUSVDUJPO &YDFTT MBOET BWBJMBCMF GPS QMBOOFE FYQBOTJPO PG NFFUJOH DPOWFOUJPO GBDJMJUJFT BEEJUJPOBM SPPNT PS B SFTUBVSBOU QBE "TLJOH

Â&#x2026; )05&- 1"$,"(& IPUFMT UPUBMJOH SPPNT JO NBKPS DJUZ "TLJOH GPS CPUI PS DBO CF QVSDIBTFE TFQBSBUFMZ Â&#x2026; 300.4 IJHIXBZ MPDBUJPO JO UPVSJTU BOE SFTPVSDF CBTFE DPNNVOJUZ XJUI DPOGFSFODF GBDJMJUJFT MPVOHF BOE SFTUBVSBOU BOE OFXMZ SFOPWBUFE SPPNT 5IJT QSPQFSUZ IBT B HSFBU EFBM PG VQTJEF BT UIF FDPOPNJD ESJWFS JO UIF BSFB JT VOEFSHPJOH B NBKPS FYQBOTJPO 5IJT QSPQFSUZ JT B TNBSU CVZ XJUI BO "TLJOH 1SJDF BU Â&#x2026; '*7& )05&-4 CPUI MJNJUFE BOE GVMM TFSWJDF BSF BWBJMBCMF JO "MCFSUBÂľT PJM DFOUSFT /FXFS QSPQFSUJFT UIBU DBO CF QVSDIBTFE TFQBSBUFMZ PS UPHFUIFS BT B QBDLBHF Â&#x2026; 300.4 '-"((&% IPUFM JO CPPNJOH PJM DFOUSF 5IJT QSPQFSUZ JT KVTU MJLF OFX XJUI JNNBDVMBUF DBTF HPPET JODMVEJOH ÂżBU TDSFFO 57T (PPE NJY PG SPPNT JODMVEJOH TVJUFT BOE LJUDIFOFUUFT "NFOJUJFT JODMVEF HVFTU MBVOESZ 5FSSJžD QFSGPSNBODF XJUI UIF BTTVSBODF PG TUBCMF DBTI ÂżPXT HPJOH GPSXBSE "TLJOH Â&#x2026; 300.4 -*.*5&% 4&37*$& PO POF PG "MCFSUBÂľT TUSPOHFTU IJHIXBZ MPDBUJPOT 5IJT ZFBS PME IPUFM TIPXT MJLF B ZFBS PME QSPQFSUZ "NFOJUJFT JODMVEF HVFTU MBVOESZ BOE FYFSDJTF SPPN XJUI +BDV[[J #VTJOFTT JO UIJT BSFB JT PO B TUSPOH SFCPVOE BOE UIF QSPTQFDUT MPPL NPSF UIBO HPPE "TLJOH

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

B17

WESTERN INVESTOR APRIL 2011 www.westerninvestor.com

REGIONAL ROUNDUP Edmonton unveils competing green urban visions for 536-acres of old airport lands

%BSJOH UP ESFBN DAVE HUSDAL WESTERN INVESTOR he topography of Edmonton’s City Centre Airport is far from remarkable. As airports should be, Edmonton’s original airfield is flat and barren. For now.

But it may not be a few years down the road.

That’s because Alberta’s capital city is daring to dream about just what will replace the airport as it’s phased out in the next couple of years.

To that end, the city is in the midst of a process to select what firm will ultimately be chosen to design Alberta’s largest-ever in-fill development – a mixed-use, higher-density, environmentally-friendly community of roughly 30,000 residents.

That’s the vision for what’s billed as City Centre Redevelopment, a roadmap to bring new city life to an inner city swath of 536 acres northwest of downtown.

While aircraft won’t be a part of the future for the city centre lands, other than through historical tributes, the city’s planners and politicians – at least those in the majority – want the airport site to be transit-oriented and sustainable. Perhaps the term anti-suburb might be appropriate.

Certainly what’s envisioned will be a work in progress for years to come, and based on public interest in the site, Edmontonians are keen on what the future might bring.

They were busy in February checking out visions of five finalist design teams being assessed by the city.

The public engagement process attracted 15,000 hits on the city’s website for the redevelopment project, and hundreds of comments, said Phil Sande, the project’s executive director.

Sande said about 1,500 Edmontonians checked out open-house displays for the project and he’s not surprised at the level of interest in redevelopment of the site.

Photos: City of Edmonton

5

Capital plans: urban designers competing for Edmonton’s City Centre Redevelopment include water-inspired plan from Perkins & Will of Vancouver (TOP); and green space and canals from Foster & Partners, U.K. (TOP RIGHT); BNIM of Kansas City (CENTRE RIGHT); and KCAP Architects & Planners, Netherlands (BOTTOM RIGHT).

opposed to choosing the best design. The designs that everybody is seeing are a part of the overall submission that each of these teams has provided in order to convey to us what their team’s philosophies are, and how 5FBN USVNQT EFTJHO it is that they’re proposing to go through this The selection committee will be recommend- overall process.” ing its preferred design team to city council Firms competing to design the city’s potenthis spring. While the concepts the finalists tial urban jewel come from Vancouver, Kansas have produced will certainly be used in the City, the United Kingdom, the Netherlands and final product, Sande emphasized that they’re Sweden. not blueprints at this point, that the selection Their concepts, communicated to the public process is choosing a team, not a concept. in five-minute videos and a series of display The latter will be fleshed out in the planpanels at open houses and online, are colourning period that follows. ful and imaginative. They foresee urban city “What we’re doing within this process living along a constructed aspen forest with is we’re actually choosing the best team, as manufactured hills and man-made water fea“It’s clearly something that Edmontonians have been focused on for many, many years,” he said. “This is their first opportunity to really see what could become on that property.”

tures, renewable energy infrastructure (giant windmills are depicted along the north edge of the site), and vibrant streets. One concept calls for five-kilometre-deep ground-source heating wells. Another foresees a looping urban waterway. Yet another lays out an aspen forest along the current footprint of the northwest-southeast runway. All foresee significant parkland in the urban mix.

)JHI EFOTJUZ

What they don’t envision is single-family homes of the suburban variety: far from it.

The proposed housing density as outlined in the airport lands master plan principles, is a minimum of 25 units per acre, roughly triple to

Please see Cost question page B18

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Hotel - 86 rooms, restaurant and lounge, located in the retail hub of Lethbridge, AB Asking $8,250,000

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3

2

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B18 Alberta

www.westerninvestor.com APRIL 2011 WESTERN INVESTOR

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quadruple whatâ&#x20AC;&#x2122;s often associated with urban and suburban â&#x20AC;&#x153;familyâ&#x20AC;? neighbourhoods.

Yet the plan principles meant to guide the design teams call for â&#x20AC;&#x153;an inclusive, familyoriented, fully sustainable communityâ&#x20AC;? offering â&#x20AC;&#x153;superior urban lifestyle opportunities, comprising a wide range of housing choices mixed with offices, restaurants, boutiques and services, primarily designed to serve the communityâ&#x20AC;&#x2122;s residents.â&#x20AC;?

The predominant dense building form will be stacked townhouses, townhouses and fourto-six-storey low-rise apartments.

The cityâ&#x20AC;&#x2122;s also mandating that 20 per cent of the housing units will be â&#x20AC;&#x153;affordable housing,â&#x20AC;? encompassing rental units and owner-occupied dwellings. That may be easier to achieve than it sounds, in part because the site is close to both Grant MacEwan University and the Northern Alberta Institute of Technology (NAIT).

5SBOTJU MJOLT

While many cities talk about the potential for transit-oriented infill development, Edmontonâ&#x20AC;&#x2122;s vision seems more than achievable in this area, with construction already started on a new light-rail transit line to link downtown to NAIT (completion in 2014) and an extension to the redeveloped airport lands to follow.

Indeed, while Edmonton has long lagged behind Calgary in building new LRT lines, its interest and pursuit of better transit has been

COMMERCIAL (RE/MAX Excellence)

growing recently. It opened new track to the southside in 2010 and has additional routes planned, but not yet funded, in the west, northwest and southeast sectors of the city.

Not everyone is embracing a bold new vision for the airport lands. Some want to keep the airport open.

City council certainly isnâ&#x20AC;&#x2122;t unanimous in its vision. Take councillor Tony Caterina, who has opposed closure of the airport. â&#x20AC;&#x153;My initial thought is theyâ&#x20AC;&#x2122;re all different, but theyâ&#x20AC;&#x2122;re all the same,â&#x20AC;? Caterina told the Edmonton Journal a few days after the design team finalists revealed their concepts. â&#x20AC;&#x153;There are themes here of park space and stormwater management â&#x20AC;Ś that to me is not innovative.â&#x20AC;?

Several of the concepts look at reserving close to half the site for green space, but Caterina isnâ&#x20AC;&#x2122;t sure if this will leave room for the 30,000 residents expected to move in. Some of the plans also have extensive canals, which could prove costly if ever implemented.

The concepts shared with the public at this point are rich on artwork and low on costing, something that raises red flags for some Edmontonians, particularly since the city is serving as its own developer on the project.

That is not unusual in urban Alberta. The City of Calgary is redeveloping the East Village neighbourhood on the east end of Calgaryâ&#x20AC;&#x2122;s core with its own developer, Calgary Municipal Land Corp.

Still, converting a flat airport site to a contoured, vibrant urban community of tomorrow wonâ&#x20AC;&#x2122;t be cheap â&#x20AC;&#x201C; particularly with the require-

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

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

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

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ments for green world infrastructure to service gold-standard LEED buildings in a place lit, heated and cooled by renewable energy sources.

2VJDL GBDUT 2

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While airport site redevelopment is clearly still in the planning stages, Edmonton as a whole has been swinging back quite nicely economically since the crash of 2008.

With oil flirting with $100 a barrel, oilsands projects near Fort McMurray are pushing the demand for everything from industrial shop space to retail space in the capital city.

The regionâ&#x20AC;&#x2122;s industrial shop vacancy rate dropped to 3.58 per cent in the final quarter of 2010, down from 4.41 per cent from 12 months earlier.

Demand for retail space is up, and Colliers International notes nine redevelopment or new office tower proposals in the cityâ&#x20AC;&#x2122;s financial and government districts. As well, the city is actively considering a new downtown arena.

For its part, Cushman & Wakefield sees growth ahead for Edmontonâ&#x20AC;&#x2122;s commercial real estate market. â&#x20AC;&#x153;In 2011, continued downward pressure is expected on retail vacancy, as there will be limited new development coming on line for most of the year. Construction costs have stabilized somewhat, giving both developers and tenants more cost certainty in their growth plans,â&#x20AC;? the company noted in a recent market update. A number of new projects will join the retail universe in 2011, the study added.

Spruce Grove

St. Albert Fort Saskatchewan Sherwood Park 14 16 EDMONTON

6

Stony Plain 2

Red Deer

Calgary

&ENPOUPO " # Population 782,439 2010 building permits $2.73 billion 2011 building permits to end of February $364 million Average detached house price $360,000 Average rent, two-bedroom apartment $1,015 Apartment vacancy rate 4.2 per cent Industrial vacancy rate 3.58 per cent

On the industrial side, C&W sees a busy year ahead. â&#x20AC;&#x153;Speculative industrial development is expected to increase vacancy in the short term, with absorption increasing as the new buildings are brought on line.â&#x20AC;?

And, itâ&#x20AC;&#x2122;s fair to say, many new developments will happen long before dirt starts moving on the airport lands, likely in 2014. â&#x2014;&#x2020;

Edmontonâ&#x20AC;&#x2122;s Business & Investment Specialists

MULTI-FAMILY z9 Units - Central McDougal - $97,000 Per Door z15 Units - West Jasper Pl. 15 two strata titled - Call For Info z15 Units - West Edmonton - $85,000 Per Door z18 Units - Eastwood - $100,000 Per Door z21 Units - Westwood - Strata titled - $85,000 Per Door

CALL MIKI Oâ&#x20AC;&#x2122;REE AT 780.200.6454

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

CALL ALLY PIRMOHAMED AT 780.604.0302

zSouth Edm Indian Restaurant - Well Established - $200,000

LAND

CALL RAJ BHARDWAJ 780.983.4211

z Premier Hotel Site - NE Edm. 1.18 Ac. HWY Exposure- $1.395M z Nisku Commercial Land - 6 Lots. Zoned CS - Call For Info

INVESTMENT zRed Deer Commercial Bldg - Fully leased. Downtown. - $1.1M zRetail Condos W/Tenants - In Spruce Grove - PENDING zRed Deer Commercial Bldg - Fully leased. Downtown. - $1.1M zSwan Hills Hotel - $2M Revenue - PENDING zPremier Lodge - Valemount BC - $4.88M zProfessional Office Bldg - West Edm. W/land - PENDING

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

CALL RAJAN NULLIAH AT 780.441.5419 zRetail Condo with Prime Exposure - 9356 34 Ave. - $475,000

CALL RAJ BHARDWAJ AT 780.983.4211

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

CALL RAJAN NULLIAH 780.441.5419

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

CALL AYAZ OR SAM AT 780.641.1320 z Whyte Avenue - Second Floor. 2215 SF - $12.00/SF + OP Costs

CALL ALLY PIRMOHAMED AT 780.604.0302 z 1261, 1307 & 2774SF - Spruce Gr. Full Commission to Tenants Rep $10.00/SF plus OP Costs

CALL MIKI Oâ&#x20AC;&#x2122;REE AT 780.200.6454

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WESTERN INVESTOR APRIL 2011 www.westerninvestor.com

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Business and Investment Opportunities Vancouver Island Land & Business

Gibbons Commercial Land & Building

Strathcona County Land & Business

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

Two tenants that have been in place for a long time.

Good corner location on two lots. Attractive building.

Great potential to ba a very good investment property.

2 buildings on 2 acres in Strathcona County.

Restaurant with living quarters in one building furniture, gift, and antique store in the other building.

Very little competition.

Highway #1 Location

Great Potential!

Dream Business

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

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

THE CITY

INVESTMENT PROPERTIES

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15 UNIT apartment, west end, all ones, many renos- 6.07 cap. Call for proforma 23 UNIT apartment, University area, nice condition and 5.75 cap. Call for proforma 13,231 SF RETAIL STRIP in Leduc, AB. 5 bays with good long term tenants. 9 years old. NOI over $161,000 per annum. 7.4 cap at $2,180,000.

1.45 ACRE INDUSTRIAL in Nisku, AB close to Edmonton Intl. Airport. 3,900 sf newer warehouse with 18’ grade door. Fenced and graveled. Oilpatch is back and rocking! $1,100,000 1.45 ACRE INDUSTRIAL, 6,000 sf warehouse, 1,575 sf office, mezzanine, 25’ clearance, 5 ton crane with yard rails. Heavy power. Perfect for welding/sandblasting.

SOLD! 68 PAD MOBILE HOME PARK in High Level, AB fully serviced, paved roads, underground utilities, fenced and landscaped, bare land condo titles. MOTIVATED OWNER WILL CARRY 75% FINANCING FOR A QUALIFIED BUYER INTEREST FREE FOR UP TO 2 YEARS!!!

MLS $1,295,000 Looking for investment properties for all ICI categories.

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

VALERIE KING

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

RICK D. JENKINS POLARIS REALTY

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

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

City of Wetaskiwin

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

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

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

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

Accelerating success.

Multifamily Opportunity 102 UNITS PENDING

15 UNITS AVAILABLE

7 ACRES LAND

ECO PARK

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

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

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

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

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

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

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

Judicial & Office/Retail Opportunities 59.44 ACRES

160 ACRES

Parkland County, AB Country Residential, minutes from Edmonton

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

80 ACRES

155 ACRES

Parkland County, AB Country Residential, preliminary development plan available

Parkland County, AB Country Residential development east of Stony Plain

420 ACRES

12,000 SF BUILDING

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

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

1.75 Hwy ACRES

MULTI FAMILY LAND

Beaumont, AB 1.75 acres, highway exposure Ideal hotel location

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

Steven Pearson

Jeff Grobman

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

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

Fort McMurray Opportunities

83 UNITS AVAILABLE Edmonton, AB Concrete block, elevator, 70% 2 &3 bedrooms, west end location

15 UNITS AVAILABLE Edmonton, AB West end location, along west LRT expansion line, all units have balconies, above average suite sizes 2.5 ACRES IN TERWILLEGAR AVAILABLE Edmonton, AB RA7 Zoning, up to 170 buildable units

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

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

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

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

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

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

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

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

Jandip Deol

INDUSTRIAL BAYS FOR SALE OR LEASE

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

Ready December 1, 2010 Taiga Nova Eco Industrial Park

www.colliersmn.com\edmontonapartments

Hotels

10020 MacDONALD DRIVE

GRAVEL PITS

Greater Edm. Opp.

Fort McMurray, AB

132,995 SF INDUSTRIAL FACILITY

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

Sturgeon Ind. Pk., AB Sale or lease. 30,000 SF bays available. Abundant yard.

Future CN Rail Service. Flexible completion options.

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

Ken Shebib MOB DIR

+1 780 863 7355 +1 780 881 6297

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

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

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

National Insolvency Team

Rod Connop Sean Day

145 MacMILLAN RD.

Mark Swaenepoel

George Dawson

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

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

B20 Alberta

www.westerninvestor.com APRIL 2011WESTERN INVESTOR

Each office is independently owned and operated.

GOLDEN OPPORTUNITIES IN CENTRAL ALBERTA UÊÊMobile Home ParkÊÜ Ì ÊnäÊi } iiÀÊ`ià } i`Ê ÌÃÊ Ê$3,500,000 UÊÊ ÊLake HomeÊ iÊ Ê Ì iÀÊ iÃÌ i`Ê Ê ÕÀ ÃÌ V Ê > iÊ Ê$1,650,000 UÊÊResidential LotsÊÀi>`ÞÊÌ ÊLÕ `Ê Ê qÊÃÌ>ÀÌ }Ê>ÌÊ$87,000

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

WHITECOURT DEVELOPERS

UÊ 132 acres Ê } Ü>ÞÊ ÓÊvÀ Ì>}i]ÊÓäÊ ÕÌiÃÊ ÀÌ Ê vÊ > }>ÀÞÊqÊV> ÊÌ `>Þ

s *UDICIAL SALE ACRES PRIME HIGHWAY COM MERCIAL 7AS "EST 7ESTERN SITE !PPRAISED AT

Now listed at $925,000 UÊ$OWNTOWN TO ACRES SERVICED LAND FOR STRIP MALL #OMMERCIAL AND 2 !PPRAISED

WILL Discount to $7.7 Million s 2ESIDENTIAL TO ACRE PARCELS IN VARI OUS STAGES OF DEVELOPMENT $325,000 to $1.2 Million Call Leo Zelinski at 780-778-1207

UÊ 279 acres Ê V>Ìi`Ê iÝÌÊÌ Ê À ÃÃv i `ÊqÊ « ÃÃ L iÊ`iÛi « i ÌÊ« ÃÃ L Ì iÃÊ É-

1-800-248-4843 leozelinski@remax.net RE/MAX Advantage WCT www.whitecourtrealestate.com

“Located in the Heart of Central Alberta” EDMONTON AND AREA

Land For Sale UÊÊÇ{°ÓnÊ>VÀiÃÊÜ Ì Ê ÀÕ`iÀ i Ê

À« À>ÌiÊ ÌðÊ< }ÊÌ ÊLiÊ ÜÞÊ V iÀV > ÊÜ Ì Ê } ÌÊ `ÕÃÌÀ > °Ê¤Ê iÊ À> ÊÌÀ>V Ã°Ê ÜÞÊ{xÊvÀ Ì>}i°ÊÊ$29,000 per acre° UÊÊ£äÓÊ>VÀiÃÊV ÃiÊÌ Ê Ã ÕÊ Õà iÃÃÊ*>À Ê > `Ê ` Ì Ê ÌiÀ >Ì > Ê À« ÀÌ°Ê 7 Ì ÊÌ iÊ«À « Ãi`Ê ÜÞÊ£ Ê -*Ê $24,500 per acre° UÊÊ£xÓÊ>VÀiÃÊi>ÃÌÊ vÊ ÀÕ`iÀ i Ê ÊÌ iÊ º i>ÀÌ > `Ê Ài>»°Ê+Õ V Ê>VViÃÃÊÌ ÊÓÊ > ÀÊ } Ü>Þð UÊÊÓÊÌ Ê{Ê>VÀiÃÊâ i`Ê Õà iÃÃÊ `ÕÃÌÀ > Ê Ê V iÃ Ê `ÕÃÌÀ > Ê>Ài>ÊÜiÃÌÊ vÊ ` Ì °Ê+Õ V Ê>VViÃÃÊÌ ÊÎÊ > ÀÊ } Ü>ÞðÊÊ$397,500 per acre° UÊÊÈ°ÈÇÊ>VÀiÃÊ « > ]Ê LiÀÌ>°Ê< i`Ê } Ü>ÞÊ iÀV > É,ià `i Ì > °Ê,Õ ÃÊ «>À> i ÊÌ Ê ÜÞÊ£x°ÊÊ$495,000°

GREAT LOCATION/REVENUE 1.1 ACRE PAVED LOT. 16,800 SQ.FT.

UÊ ¾ acreÊ `ÕÃÌÀ > Ê > `Êv ÀÊ i>Ãi

INCLUDING 2,000

UÊ 137 acres ÊÜ Ì Ê ÓÊ } Ü>ÞÊvÀ Ì>}iÊqÊ iÝVi i ÌÊ>VViÃÃ

SQ.FT. MEZ/OFFICE.

UÊ East Balzac Ê q Ê Ê v Ê > } > À Þ Ê q Ê £ x £ Ê LAND & BUILDING ONLY >VÀiÃ]Ê£ÓxäÊõ°vÌ°ÊLÕ }> Ü]Ê{ä½ÊÝÊnä½Ê +Õ ÃiÌ

$1,175,000

UÊ BEISEKERÊqÊÓ°ÇÎÊ>VÀiÃÊ `ÕÃÌÀ > Ê > `]Ê vi Vi`ÊEÊ}À>Ûi i`]Ê«ÀiÃi Ì ÞÊÕÃi`Êv ÀÊ ÃÌ À>}i

4-PLEX FULLY OCCUPIED

UÊ 320 acresÊ i Ý V i i Ì Ê v > À > ` Ê q Ê Ó ä Ê ÃÊ Ê vÊ > }>ÀÞ

PRICE $519,000

UÊ 151 acres Ê i > Ã Ì Ê v Ê À ` À i Ê q Ê Ê PRICED TO SELL UÊ Goalie Equipment & Development Õà iÃÃÊ ÀÊ-> i UÊ SOLDÊ809 sq. ft. "vv ViÊÉÊ,iÌ> Êë>ViÊ v ÀÊÃ> i]Ê >À}iÊ Ì UÊ SOLDÊCROSSFIELD qÊÓÓÊÀ Ê Ìi ]Ê }Ài>ÌÊ V>Ì ]ÊiÝVi i ÌÊV ` Ì Ê ÉFor more information on these and other properties

call

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

" " / -Ê£ÈÊ/"ÊÓ{Ê1 /$299,000 $695,000

DON SACKETT RE/MAX ACA REALTY

(403) 946-5657 ACA Realty

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

RE/MAX Cold Lake 2000

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

Attention

☞

Agents:

REACH QUALIFIED BUYERS FOR YOUR LISTINGS

☞

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

Each office is independently owned and operated.

Alberta B21

WESTERN INVESTOR APRIL 2011 www.westerninvestor.com

Edmonton & Area - For Sale

â&#x20AC;˘ Sherwood Park - 1.33 Acres (C5 Zoning) - $765,000 / acre â&#x20AC;˘ Drayton Valley - 52 Room Motel (new 2005) - $3,300,000 â&#x20AC;˘ Sherwood Park - 19.57 Acres Zoned C5 - $600,000 / acre â&#x20AC;˘ Sherwood Park - 3.9 Acres (adjacent to Ford site) - $637,000 / acre â&#x20AC;˘ Mini Storage Investment - Located on 5.89 acres - $425,000 â&#x20AC;˘ Edmonton - 1,355 sq. ft. Industrial Condo - $350,000 â&#x20AC;˘ Sherwood Park - Lakeland Drive - 2.42 Acres - $715,000 / acre â&#x20AC;˘ Developed Industrial Land - West Edmonton - $300,000 / acre â&#x20AC;˘ West Edmonton Industrial Warehouse/OfďŹ ce - 14,319 sq. ft. - $1,500,000

www.scrcommercialrealty.com

Val Toffoli

Selling Edmonton since 1987

Phone: 780-707-9395

REALTY EXECUTIVES POLARIS 4107 - 99th Street, Edm, AB T6E 3N4 Email: vtoffoli@shaw.ca â&#x20AC;˘ www.valtoffoli.com MULTI-FAMILY APARTMENT BUILDINGS: â&#x20AC;˘ 7 Stes in West Central; 6% Cap Rate. Very Clean & Well Maintained with Great tenant Profile. â&#x20AC;˘ 12 ste with 80% financing available! Ctl â&#x20AC;&#x201C; Near downtown, College, Hospital, new proposed Stadium & LRT â&#x20AC;&#x201C; Good size stes. Great Curb Appeal â&#x20AC;˘ 15 Condo Units â&#x20AC;&#x201C; 13-1bdrm & 12-2 bdrm units.

Ctl near downtown & college. REDUCED & open to reasonable offers.

OfďŹ ce â&#x20AC;˘ 780.417.5540 (Sherwood Park)

â&#x20AC;˘ 18 Stes (12-2 Bdrm, 5-1 Bdrm, 1 Bach) Extensive upgrading in & out (roof/windows/landscaping/ fencing). Hi Ratio financing available. East Ctl

OPPORTUNITY IS KNOCKING IN RED DEER!

FOR LEASE

â&#x20AC;˘ Great Location â&#x20AC;˘ High Visibility â&#x20AC;˘ Long Term Government and National tenants â&#x20AC;˘ 2 Parking Lots INCLUDED for Future Development

$7.5 Million Glenn Moore

, Associate C21 Advantage Commercial Phone: 403-318-8085 Email: glenn@advantagecommercial.ca www.reddeercommercial.com

SORRY, YOUR AD IS MISSING...

20,568 total sq.ft available and/or 5,000 sq.ft. bays. 1 and a half acres of yard space which is fully fenced. Brand new ďŹ rst class building ideal for ofďŹ ce, show room and/or warehouse shop.

Call Bob direct for further information at 780-975-4100

Bob MacMillan 780-975-4100 (cell)

Re/Max Advantage Sherwood Park, AB

Scott MacMillan 780-975-1234

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

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.

PAGE REGAN

ROB REGAN

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

780-490-9324 ar_ar@shaw.ca

OPPORTUNITIES IN LETHBRIDGE AND AREA PASSIVE INVESTMENT 6OJRVF 0GžDF CVJMEJOH %FTJHOFE GPS TNBMM CVTJOFTTFT UFOBOUT XJUI -FBTFT

(PPE QBSLJOH 3 0 * $BMM GPS $PNQMFUF 1BDLBHF

NEWLY RENOVATED! TR GU CVJMEJOH -BSHF PGžDFT ;POFE * # $MPTF UP NBKPS TIPQQJOH NBMM

3 - INDUSTRIAL ACREAGES 0O NBJO IJHIXBZ ;POFE )JHIXBZ $PNNFSDJBM "SDIJUFDUVSBM DPOUSPM

UĂ&#x160; Â&#x153;Ă&#x2022;Ă&#x20AC;Ă&#x152;Ă&#x160;"Ă&#x20AC;`iĂ&#x20AC;i`Ă&#x160; Â&#x153;Ă&#x20AC;iVÂ?Â&#x153;Ă&#x192;Ă&#x2022;Ă&#x20AC;i AVAILABLE & 28 Block 2 lots 5 3, 4, 5, 6 2, ts lo 3 k oc Bl 4, 5, 9, 10, Block 4 lots 1, , 18, 16 5, ,1 13, 14 19, 20, 22, 23

UĂ&#x160;ÂŁĂ&#x2030;Ă&#x201C;Ă&#x160; VĂ&#x20AC;iĂ&#x160;7>Â?Â&#x17D;Ă&#x160;"Ă&#x2022;Ă&#x152;Ă&#x160; Â&#x153;Ă&#x152;Ă&#x192; UĂ&#x160;1Â&#x2DC;`iĂ&#x20AC;}Ă&#x20AC;Â&#x153;Ă&#x2022;Â&#x2DC;`Ă&#x160; Â&#x2C6;Ă&#x152;Ă&#x17E;Ă&#x160;-iĂ&#x20AC;Ă&#x203A;Â&#x2C6;ViĂ&#x192; UĂ&#x160;fÂŁÂ&#x2122;Ă&#x17D;]Ă&#x2C6;ääĂ&#x160;>Â&#x2DC;`Ă&#x160;Ă&#x2022;ÂŤt

UĂ&#x160;*Ă&#x20AC;iÂ&#x201C;Â&#x2C6;Ă&#x2022;Â&#x201C;Ă&#x160;Ă&#x201C;°xÂ&#x2021;{°Ă&#x2C6;Ă&#x160; VĂ&#x20AC;iĂ&#x160; Ă&#x192;Ă&#x152;>Ă&#x152;iĂ&#x160; Â&#x153;Ă&#x152;Ă&#x192;

SOLD Lot 21

UĂ&#x160;/Ă&#x20AC;ii`Ă&#x160;EĂ&#x160;/Ă&#x20AC;iiÂ?Â&#x2C6;Â&#x2DC;i`]Ă&#x160;,Â&#x153;Â?Â?Â&#x2C6;Â&#x2DC;}Ă&#x160; Â&#x2C6;Â?Â?Ă&#x192; UĂ&#x160;Ă&#x160;Ă&#x153;Ă&#x153;Ă&#x153;°Ă&#x20AC;Â&#x153;Ă&#x192;iĂ&#x153;Â&#x153;Â&#x153;`iĂ&#x192;Ă&#x152;>Ă&#x152;iĂ&#x192;°V> UĂ&#x160;fÂŁĂ&#x17D;Â&#x2122;]Â&#x2122;ääĂ&#x160;>Â&#x2DC;`Ă&#x160;Ă&#x2022;ÂŤt

Call KEITH

LEES

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

B22 Alberta

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

www.westerninvestor.com APRIL 2011WESTERN INVESTOR

APPROX. 140 ACRES For residential development Expect 280 lots ... Close to Edmonton, Nisku & Beaumont.

Be ready for the surge in 2012 !!

For further info contact: Lorne Ryz

RAY LEWIS

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

West Coast Realty LANGLEY

604-812-9733

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

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

www.cwedm.com

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

780-420-1177

investment@cwedm.com

APARTMENT OPPORTUNITIES

INVESTMENT SALES

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

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

CHRISTOPHER KAMPHIUS or RAPHAEL YAU multifamily@cwedm.com

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

burke.smith@cwedm.com

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

SHERWOOD PARK LAND - $26,000,000 • 150 acre site along Broadmoor Blvd.

• Area Structure Plan approved for Commercial and Industrial CONTACT IAN NEWMAN OR MIKE PARKER

FREE STANDING 65,700 SQ. FT. RETAIL BUILDING - GRANDE PRAIRIE • Located on 6.05 acres of land • Available NOW • Great owner/user building

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

MULTI-FAMILY 100+ UNITS • Interior BC • 8.0 CAP • Located just off highway 1

CONTACT RAPHAEL YAU OR DOUG RAE

CONTACT DOUG FOGG OR DAVID COONEY

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

CONTACT JEFF McCAMMON OR DOUG BAUER

DEVELOPMENT LAND RIMBEY, ALBERTA

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

CONTACT JEFF McCAMMON OR DOUG BAUER

• 20.64 acres development land • Residential & Highway commercial

14,707 SQ. FT. SHOWCASE WAREHOUSE

CONTACT JEFF McCAMMON OR RAPHAEL YAU

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

• Argyll Road / Sherwood Park Freeway • Clear span warehouse; dock & grade loading • $2,690,000 PRICE REDUCED!

CONTACT JEFF McCAMMON OR DOUG BAUER

WINTERBURN INDUSTRIAL PARK

CONTACT DOUG RAE

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

CONTACT DOUG FOGG OR MARK MCCANN

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

CONTACT CHRIS SIEBEN OR ANDY HORVATH industrial@cwedm.com

FORT MCMURRAY

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

B23

WESTERN INVESTOR APRIL 2011 www.westerninvestor.com

"MCFSUB

municipalities within our region. That is beyond our role as a local government and must be addressed by other levels of government, both provincial and federal.”

Cold Lake seeks cold cash

Fort Mac now home to 76,000

A

A

lberta municipalities feeling the financial pinch and looking enviously at their neighbours are keeping an eye on what’s happening in part of northeast Alberta.

That’s because the province has been dealing with a request from the cash-strapped City of Cold Lake that would expand both the city’s borders and its industrial tax base.

The city, along with the commanding officer of 4 Wing Cold Lake, the Canadian airbase within the northeast oilsands community, wrote the province in January requesting the city’s boundaries be extended to take in an air-weapons range north of the community. The range isn’t used exclusively for military exercises, however. It is also home to an oilsands-related tax base, and the revenue from the base goes to Lac La Biche County to the west, not Cold Lake.

In order for the city to expand onto the airweapons range, it would also need to annex land in the Municipal District of Bonnyville, and the MD, which already has a strained relationship with its urban neighbour, hasn’t been that interested.

A day after Cold Lake fired off a news release to keep the heat on the province on the issue, the MD volleyed back.

“Unfortunately the solutions to municipal sustainability are not simplistic,” said reeve Ed Rondeau. “Municipalities in northeastern Alberta must work together to create a winwin solution for all involved. ” The assessment-rich MD already shares some of its tax revenue with its urban neighbours through an agreement.

Working together doesn’t mean municipalities must solve the problems of their neighbours, he said.

“In our role as a municipal government,” Rondeau said, “it is not within our mandate to address inequities of wealth among other

SPIRIT RIVER, AB FREESTANDING RETAIL BUILDING

lberta’s oilsands boomtown continued to record strong population growth between 2008 and 2010, despite the economic slowdown that began in 2008.

Fort McMurray’s population hit 76,797 in 2010, according to recently released census data for the Regional Municipality of Wood Buffalo, which governs the oilsands capital.

That new figure represents a hike of 6.13 per cent over a two-year period.

Still, Fort Mac has yet to pass Alberta’s two most populous second-tier cities, Red Deer and Lethbridge, which tallied 90,084 and 86,659 citizens respectively in 2010.

Assuming Fort McMurray continues to hum with oilsands growth, the urban oilsands hub should pass Red Deer and Lethbridge within five years.

Sprawling Wood Buffalo, which recently acquired more Crown land, is already Alberta’s third-most-populous municipality.

Fort Macleod RCMP centre approved

A

fter years of waiting, the tiny southern Alberta community of Fort Macleod will finally see provincial investment in a police training centre.

Cash for the centre was confirmed in late February with the unveiling of the provincial budget for 2011-12.

The facility was announced for Fort Macleod several years ago, and construction was supposed to start back in 2007, but budget constraints had kept the police training centre out of a string of provincial budgets.

Now the Stelmach government has a budget document that allocates $20 million to

$BMHBSZ¤T &BTU 7JMMBHF MBOET MBSHF EFWFMPQFS

C

algary’s East Village redevelopment project has taken another big step forward with the announcement of another megadeal for the downtown neighbourhood.

An Ontario company announced plans to build $300 million worth of new retail and residential space in the east end of the city’s downRiver walks are a feature of planned East Village town. in Calgary.

Construction on the FRAM Building Group and Slokker Real Estate Group project, which will include 800 new oneand two-bedroom units on a four-parcel area along the Bow River’s edge near Fort Calgary, is due to start in 2012.

Frank Giannone, president of FRAM, said the work done by the city-owned Calgary Municipal Land Corp. (CMLC) to prepare the area for development was a key part of his group’s decision to buy in.

“It’s quite easy to look at this property now and … ask the question whether this really was a blighted site,” Giannone told reporters.

The CMLC, an independent development company the city created to help revitalize the East Village, has spent millions of dollars putting in new roads, sewer and water lines, and streetlights to prepare the area for redevelopment. It’s currently working on a traffic link under the CP Rail lines to connect to the Stampede grounds.

Giannone said the now mostly empty area would become an urban village, “a pedestrian neighbourhood, a place where people can live, work and play without necessarily needing their car to get to work.”

Mayor Naheed Nenshi called the announcement “huge.”

Last fall, another developer announced a $300 million retail and condo project in the East Village.

More than half of the land in the East Village area is now spoken for, and a major hotel project is expected to be unveiled this spring.

The area is immediately east of Calgary’s largest single officetower project, The Bow, which is now under construction.

The CMLC also announced a changing of the guard earlier this year, with the departure of its president and CEO, Chris Ollenberger.

Photo: City of Calgary

8)"5¤4 )"11&/*/( */

the project, followed by $50 million and $47 million in the next two years.

The centre is expected to be used by a variety of police services, including those in Edmonton and Calgary, and also as a supplementary training centre for the RCMP. Projections are for about 1,400 peace officers to receive at least some training in Fort Macleod each year.

The town of 3,100, situated at the junctions

of Highways 2 and 3, has already upgraded its water-treatment plant to add capacity while it has waited for the province to find money for the centre.

Fort Macleod boasts a good supply of industrial and highway commercial land, which are selling in the range of $35,000 an acre for industrial and $62,000 per half-acre for commercial.◆ – Compiled by Dave Husdal

Commercial, EDMONTON INVESTMENTS Industrial & Residential Financing • DEVELOPMENT OPPORTUNITY - 3.95 Acres with established yard-site within very active Heritage Valley area in southwest Edmonton. Asking $2,440,000.

• PRINTING & PUBLISHING BUSINESS - Original owner and operated for 30 years. Good customer base. Simple operation with growth potential, Business and Assets $553,000 Condo Bldg $495,900

• TREENURSERY - South of Edmonton with 80 acres, established in 1988 by present owners. Beautiful home and 3 metal buildings. Complete line of current equipment optional. Nursery Price Reduced! $1,050,000

5 yr lease with national tenant. Great trouble-free income producer. 7,112 sq. ft. wood frame building with metal roof, 100% leased to Fields. Lease Income $60,452 per annum ($8.50/sq.ft.) Net Lease income: $54,000 per annum $635,000

GRIMSHAW, AB FIELDS STORE BUILDING

Obtaining Mortgages and Loans can be made Easy & Simple!

• 80ACRES WEST OF EDMONTON INTERNATIONAL AIRPORT - with home, large garage/workshop and quonset. 1/4 mile from highway. Excellent location Asking $850,000

A.D. Toby Krysa (Broker) Cell 780-906-7764 • tobykrysa@shaw.ca

Contact: Frank Hickey

P (403) 290-1990 F (403) 269-1853

1-800-661-6988

frank@concordmortgage.ca 5 yr lease with national tenant.Great trouble-free income producer. 7,972 sq ft building on 0.19 acre corner lot. 5 year lease to Hudson’s Bay Company (Fields Store). New 5 year(NET) lease from April 1, 2011 $450,000 (8% Cap)

FERMANAGH LANDS (604) 946-7997 (604) 790-3188 fermanaghlands@gmail.com

www.westerninvestor.com

B24 Alberta

www.westerninvestor.com APRIL 2011WESTERN INVESTOR

WESTERN CANADAâ&#x20AC;&#x2122;S GUIDE TO COMMERCIAL REAL ESTATE, FRANCHISES AND BUSINESS OPPORTUNITIES

Marketing commercial real estate in Western Canada.

In Print. On Line.

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B25

WESTERN INVESTOR APRIL 2011 www.westerninvestor.com

SPOTLIGHT No â&#x20AC;&#x153;whoaâ&#x20AC;? expected as Bakken oil play hot-wires economy in southwest Saskatchewan

&TUFWBO¤T CVJMEJOH CPPN NORM PARK

&TUFWBO 4 ,

WESTERN INVESTOR ith building permits and house prices at record highs â&#x20AC;&#x201C; and the city still offering tax breaks to developers â&#x20AC;&#x201C; Estevan is seeing a frantic and accelerating pace this spring.

Perched close to the giant Bakken oil play in southwest Saskatchewan, the cityâ&#x20AC;&#x2122;s population has soared 14 per cent in the past 10 months as the centre of nearly 13,000 attracts more workers and investors.

There isnâ&#x20AC;&#x2122;t any â&#x20AC;&#x153;whoaâ&#x20AC;? attached to the Estevan economy according to city and rural administrators, real estate agents and analysts.

Itâ&#x20AC;&#x2122;s a basic economic matter of matching supply with demand.

According to insiders, a large residential development with mixture of apartments, condominiums, and single-detached residences could be launched as early as this spring. This provides hope to a severely stretched housing supply. â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s a 75-lot development,â&#x20AC;? saidJim Puffalt, Estevanâ&#x20AC;&#x2122;s city manager who declined to name the developer since the proposal was still in the

Photo: City of Estevan

8

New $24 million sports arena will open this spring in Estevan.

negotiation stage. The city also has 24 residential lots available for housing and more on the way, according to Puffalt.

With one-bedroom apartments renting for record highs of between $800 and $1,000 per month and the typical bungalow selling for $280,000 and up, there is no evidence of a housing slowdown any time soon.

#VJMEJOH QFSNJUT

Total building permits hit a record $51 million last year, and the city is awaiting a provincial/ federal decision on a commercial-sized clean coal project at nearby Boundary Dam Power Station, owned and operated by SaskPower.

The federal government has committed $240

Population 12,876 Major industries Oil production, coal mining, agriculture and ranching Average detached house price $280,000 Potential Bakken oil play, electrical power generation

million to the project and a final decision for the second phase of the program is expected this month.

Meanwhile, a 50,000-square-foot, $14 million Energy Training Institute is going up on the cityâ&#x20AC;&#x2122;s east side, representing a new campus in Estevan for the South East Regional College, and a fresh commitment to the local coal mining and oil patch.

The city is also opening a new 4,000-seat, $24 million arena and event complex next month. The project raised more than $7 million in local pledges in less than seven months.

Now the push is on to attract more families, said Edie Spagrud, CEO of the Saskatchewan Southeast Enterprise Region. There is a need to move transient employees into more permanent housing for their families, he said.

$PNNFSDJBM

Commercial and industrial leases are running between $18-to-$20-per-square-foot, triple net, and there are more than 20 serviced industrial acreage lots available for immediate development.

Estevan has forged a working relationship with the nearby RM (rural municipality) of Estevan, to share tax income in exchange for development lands infrastructure and maintenance agreements. â&#x20AC;&#x153;If the proposal calls for an acreage of four or more acres, then we would have a tendency to recommend the RM of Estevan and there is no loss of income for either of us because of this arrangement,â&#x20AC;? said Puffalt.

Estevan is the main electrical power producer in Saskatchewan and the Bakken oil play is not expected to slow, even if oil price slump. â&#x20AC;&#x153;We had the highest construction pace weâ&#x20AC;&#x2122;ve ever seen just last year,â&#x20AC;? said Puffalt. â&#x20AC;&#x153;There are over 2,300 jobs listed in the immediate area that need to be filled. It doesnâ&#x20AC;&#x2122;t look like any slowdown is being expected around here.â&#x20AC;?

Puffalt said the city continues to offer an incentive package for real estate developers that includes a year of property tax relief during the first year of construction and for the four years following that. â&#x2014;&#x2020;

"MCFSUB 4BTLBUDIFXBO YOUR ADVANTAGE IN

ALBERTA

FIRST CLASS HOTEL IN GREAT CITY â&#x20AC;˘Asking: $27.5M, â&#x20AC;˘Revenue is about $6M â&#x20AC;˘Premium 176 guest rooms & suites wrapped around 1acre garden court yard â&#x20AC;˘8 meeting rooms/Banquet facility â&#x20AC;˘Lounge and leased out restaurant & spa on 5 acres of land SHOPPING PLAZA, HOTEL IN BIG CITY â&#x20AC;˘Asking: $14.9M â&#x20AC;˘REV:$2.3M: Hotel: $1,110,695; Rental: $513,253; Others: $669,734 â&#x20AC;˘48 oversized rooms plus 20 tenants and other big revenue income source â&#x20AC;˘Located in big city downtown core with 4.9 acres of land and 102,000 sq. ft. building.

FRANCHISE MOTEL NEAR CALGARY â&#x20AC;˘Asking: $13.4M, â&#x20AC;˘103 room, 4 storey â&#x20AC;˘Revenue: $2.3M â&#x20AC;˘High visibility from hwy. â&#x20AC;˘Business is picking up & the best location with just 2 years old and growing MONEY MAKING FRANCHISE MOTEL â&#x20AC;˘Asking: $10.7M â&#x20AC;˘REV: $3,158,106 â&#x20AC;˘3 yrs old, very busy location â&#x20AC;˘Limited Service, 85 Rooms, located in very busy city LIMITED SERVICE FRANCHISE MOTEL â&#x20AC;˘Asking $7.6M â&#x20AC;˘3 years old, 4 storey, 60 rooms â&#x20AC;˘Swimming Pool w/water slide â&#x20AC;˘Situated with excellent exposure in big city, AB FRANCHISE MOTEL IN CENTRAL AB. â&#x20AC;˘Asking: $7.29M, â&#x20AC;˘2.35 Acres â&#x20AC;˘2 yrs old, 66 rooms with swimming pool FRANCHISE MOTEL WITH LEASED RESTAURANT & RENTAL PROPERTY â&#x20AC;˘Asking: $7M â&#x20AC;˘NOI: $837,000 â&#x20AC;˘REV: $3,185,500 â&#x20AC;˘42 rooms â&#x20AC;˘Lounge and Liquor Store with Leased Restaurant & others FRANCHISE MOTEL FOR SALE NEAR CALGARY â&#x20AC;˘Asking: $6.8M â&#x20AC;˘REV: $1.3M â&#x20AC;˘12 yrs old, 49 rooms (totally renovated in 2010) â&#x20AC;˘Located in booming city near Calgary w/additional 2.39 acres of land allowing for future expansion FRANCHISE MOTEL â&#x20AC;˘Asking: $6.19M â&#x20AC;˘81 rooms â&#x20AC;˘Located steady growth town with over 10,000 Population FRANCHISE MOTEL NEAR CALGARY â&#x20AC;˘Asking: $5M, â&#x20AC;˘41 room w/ leased Boston Pizza â&#x20AC;˘1.5 Acres, ready to add 20 rooms.

FRANCHISE MOTEL IN SOUTHERN ALBERTA â&#x20AC;˘Asking: $4.99M â&#x20AC;˘REV: $1,124,570 â&#x20AC;˘Revenue is very steady past few years during recession â&#x20AC;˘48 rooms with client base from Provincial & Federal employees, tourists and oil, gas & agriculture.

MOTEL IN B.C. â&#x20AC;˘Asking: $5.09M â&#x20AC;˘REV: $1,373,000 â&#x20AC;˘81 Rooms w/Leased Restaurant & Lounge â&#x20AC;˘Waterslide, Sauna, Pool â&#x20AC;˘Located Trans Canada highway with amazing view â&#x20AC;˘Can be converted as franchise Motel MOTEL NEAR EDMONTON â&#x20AC;˘Asking: $2.39M â&#x20AC;˘REV: $634,923 â&#x20AC;˘40 rooms, with manager's suite MOTEL NEAR CALGARY â&#x20AC;˘Asking: $1.99M â&#x20AC;˘REV: $540,000; NOI: $280,000 â&#x20AC;˘29 rooms, swimming pool, sauna w/3bed manager's suite.

GREAT POTENTIAL MOTEL 2HR FROM CALGARY â&#x20AC;˘Asking: $1.95M â&#x20AC;˘REV: $540,000 â&#x20AC;˘NOI: Over $300,000 â&#x20AC;˘29 Rooms plus 4 bed manager house with swimming pool, sauna & hot tub. â&#x20AC;˘Alberta government just announced great project will start this year for 3 years construction which can be over double population upon completion of project.

MOTEL WITH RV PARK â&#x20AC;˘Asking: $1.57M â&#x20AC;˘42 rooms, 3.89 Acres. â&#x20AC;˘17 RV Site, 5 bedroom Managers suite TRUCK STOP & RETAIL SPACE IN CALGARY â&#x20AC;˘Asking: $13.5M â&#x20AC;˘Travel facility comprising 45,700 sq ft on a 16.6 Acre site, provides for future redevelopment â&#x20AC;˘Strong sales with long history and 19 tenants including national brand name CAR WASH NEAR CALGARY â&#x20AC;˘Asking: $3.89M â&#x20AC;˘Revenue: $700,000 â&#x20AC;˘7 bay and 1 auto. â&#x20AC;˘Year: 2004.

VERY BUSY CAR WASH â&#x20AC;˘Asking: $3.49M â&#x20AC;˘Revenue: $1.1M â&#x20AC;˘8 Wand, 2 Auto, 1 RV Bay GAS BAR & C STORE WITH AUTO CAR WASH â&#x20AC;˘Asking: $2.48M â&#x20AC;˘Revenue: $3,711,887 (10 Month) â&#x20AC;˘NOI: $337,217 â&#x20AC;˘Located booming central AB. CAR WASH NEAR EDMONTON â&#x20AC;˘Asking: $1.89M â&#x20AC;˘REV: $340,000 â&#x20AC;˘Just announced Phase 1 only 5 Billion cost project which will be completed by 2014 GAS BAR WITH CAR WASH IN GREAT CITY â&#x20AC;˘Asking: $1.67M â&#x20AC;˘Revenue: $3,303,344, NOI: $260,000 â&#x20AC;˘Fibreglass tank, 7 Bay coin and 1 Touchless Car Wash â&#x20AC;˘10,000 sq ft building located on Trans Canada Hwy in Booming City! â&#x20AC;˘Well settled station in great town.

MAXWELL

SOUTH STAR REALTY â&#x20AC;˘ www.leechoonho.com FRANCIS LEE, Associate Broker

.

CURRENT OFFERINGS â&#x20AC;˘ A Flagged 95 Room Limited Service Hotel consisting a variety of suites, well located with highway exposure and surrounded by a substantial number of conveniences, continued superb revenue performance that yield substantial N.O.I. that ultimately result in excellent return on equity and investment. Asking $13,900,000. â&#x20AC;˘ A Flagged 92 Room Limited Service Hotel, featuring a very high number of suites in its room mix, ďŹ tness centre, indoor Swimming pool and whirlpools are a few of its many amenities, its superb location is attested to by its continuous excellent revenue performances; the condition of the Hotel is very good. There is no differed maintenance. Asking $13,500,000. â&#x20AC;˘ A Flagged 96 Room Hotel featuring an excellent room/ suite mix, plus some unique outstanding features that will undoubtedly enhance its performance going forward; very good ďŹ nancing is in place, the location is great, the up-side potential is very good. Asking $15,500,000. â&#x20AC;˘ A 99 Suite Apartment Complex in superb condition, continuously operates at a very high occupancy level that yields excellent revenues, immediate possession, an excellent buy at $9,500,000. â&#x20AC;˘ A Flagged Full Service Hotel, well located with highway exposure in a very diverse economic area, attested to by its continually strong revenue performances, further, it currently has exceptionally good mortgage ďŹ nancing that may be assumed. The up-side potential of an investment is this Hotel is very good. Asking $30,000,000. â&#x20AC;˘ A Flagged Limited Service Hotel in a very prime location, featuring excellent amenities including indoor swimming pool, it is relatively new, is currently in excellent condition and has no differed maintenance, enjoys excellent occupancy and ADR. Asking $13,700,000. â&#x20AC;˘ A Flagged 102 Room Full Service Hotel, well located in a prime commercial area, a dynamic city, the stellar performance of its operation is attested to by its continuous outstanding growth in revenue, plus substantial up-side potential.

Asking $12,900,000. â&#x20AC;˘ 4.6 acres of vacant prime commercial land available for immediate Development in a most sought after location with main artery exposure and very high daily trafďŹ c count, priced for immediate sale at an Asking price of $4,100,000. â&#x20AC;˘ Located in a Very Popular Ski Resort. a New 2Bedroom Condo Consisting of 2-bathrooms, ďŹ replace, cable among many other superb Features, plus the many amenities such as swimming pool, sauna, ďŹ tness Center, indoor parking to name a few within the Building Complex. Immediate possession available, a great buy with cash to an existing mortgage pf $330,900 more or less, at the asking price of $499,000.

CENTRAL ALBERTA Businesses, Investments, Sales and Lease Information Visit www.advantagecommercial.ca

or call

403-346-6655

VENDOR FINANCING AVAILABLE Turn the key today and be your own boss/ business owner. This commercial space is 4000 sq ft on Main Street in Nanton, AB. There is a lucrative Variety/ General store in place which generates good income.

Building/Business may be purchased separately. Owner ďŹ nancing available.

Call for Details Today!

Asking $399,000 Building Only!

CURTIS PATTON - 403-995-2810 CELL (403) 333-6498 Prairie Management & Realty Inc. Serving Nanton, High River, Okotoks & Area Helping you make the right move! Call today for all your real estate needs

PRAIRIE DEALS GREAT IMMIGRANT FAMILY OPPORTUNITY! â&#x20AC;˘24 UNIT MOTEL - w/ INTERIOR HALLWAYS â&#x20AC;˘NEAR NATIONAL PARK - HOTEL, OFFSALE, RESTAURANT, POOL, - OWNERS RETIRING! â&#x20AC;˘MANITOBA HIWAY LOCATION â&#x20AC;˘ASKING $750,000 80 + APARTMENT COMPLEX - 8% CAP CALL FOR DETAILS! MOOSE JAW, SK - 3 Suite / Close to SIAST - $325,000 19 HOUSE PACKAGE DEAL - Great Potential to renovate & ďŹ&#x201A;ip. Asking $1,750,000 3.25 ACRES - Industrial lot - $499,000. Motivated Seller!

BUILDING IN REGINA, SK 1759 Halifax - 2 Storeys, 5550 sq ft - $439,000 FORT QU'APPELLE, SK - 120 & 102 Broadway Street.

Total 9,860 sq. ft. Buy as a package. Multi tenant Income producing! $165,000 and $275,000 respectively.

240 FRONT FEET DEWDNEY AVENUE - Was a Car Lot! Asking $590,000 - Adjacent Storage Business - Great expansion possibilities! CONDITIONAL SALE GRAVELBOURG - 19 room Bed & Breakfast. - REDUCED - $199,900. On 2.39 acres - MUST SELL! - All Offers Considered.

HOTEL with great upswing potential in Manitoba. Don't miss! Full service. 62 Rooms, Pool, 30 VLT's + Free Standing Nightclub - 500 seat capacity w/Beer Vendor store.

Asking $3.2 Million. Net Income - $450,000!

INDIAN HEAD - 8 Unit apartment - $250,000 SASKATOON AVE. - ABERDEEN - 160 Acres, Development Ready - $846,000 4 HOTELS - Franchised Alberta - Great Locations! Total 374 rooms, conďŹ dentiality agreement and proof of buyers ďŹ nancial capabilities WANTED: Apartments Strip Malls, Hotels/Motels, Parking Lots. ALL LOCATIONS

ADAM NIESNER REALTY (1991) LTD Commercial Properties Regina Area TURN KEY Licensed Pizza Restaurant. Regina Beach SK Resort. Training available.

Asking $445,000.

'SNACK SHACK' At Lumsden, SK. 40th year in business. building and equipment. 14 acres prime commercial development.

Asking $765,900.

'DAIRY BARN' At Indian Head. Turn Key summer - fast food outlet. Package includes 10 acres: 4 separate lots zoned commercial. Highway frontage. Asking $375,000.

VICTORIA AVE EAST REGINA 2 acres prime Development land. Zoned commercial.

Asking $1,950,000.

GLOBAL TRANSPORATION HUB Pinkie Road & Dewdney Avenue area. Prime Locations.

PENSE Between Global Hub and Bell Plaine Potash Mine.

3 COMMERCIAL LOTS. 85 ft. x 156 ft. multi family residential development or business

IC & I Full Commercial Member â&#x20AC;˘ Manager Business & Investment Div

Ajit Matharu â&#x20AC;˘ 306-581-3130

Call Now For Details

For More Details

Email: ajitregina@gmail.com Email: charmaine.luscombe@gmail.com

LINDA BOXALL

HOMELIFE CRAWFORD REALTY www.DreamTeamSK.com

Website: www.lindaboxall.com

Tel: 403-253-5678

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

Charmaine Luscombe â&#x20AC;˘ 306-535-3948

306.536.1489

B26 Saskatchewan

www.westerninvestor.com APRIL 2011WESTERN INVESTOR

MOOSOMIN, SK

15 ROOM MOTEL W/HOUSE - $350,000

Well established

8FTUFSO 4BTL SPPN NPUFM JO HPPE MPDBUJPO PO XFMM MBOETDBQFE MPU .BOBHFS PQFSBUFE (PPE OFU JODPNF (P UP XFCTJUF GPS NPSF JOGP BOE QJDUVSFT

MOTEL FOR SALE ON MAJOR HIGHWAY OF SK

RETAIL FABRIC STORE

in thriving SE Saskatchewan. â&#x20AC;˘ Full line of fabric, notions, custom sewing, blinds, and draperies. â&#x20AC;˘ Two rental spaces for additional income. â&#x20AC;˘ MLSÂŽ 386406 Donâ&#x20AC;&#x2122;t miss this opportunity!

Only $198,500

â&#x20AC;˘ 28 Rooms with 2 bed room living suite & 2 garages â&#x20AC;˘ Revenue/NOI (2010): $477,535 / $261,710 â&#x20AC;˘ Land size: 1.79 acres (can build more rooms) â&#x20AC;˘ Easy to operate and good return â&#x20AC;˘ Well maintained. So new owner takes possession and can just run. â&#x20AC;˘ Revenue has increased steadily with stable clientele. â&#x20AC;˘ Local development and pipeline construction are planned.

ROLNA PRANKE 306-435-7343

MARTIN PARK T: 778-899-0201 www.MotelHotelSale.com

rpranke@remax-yorkton.ca RE/MAXÂŽ Blue Chip Realty 80 Palliser Way, Yorkton SK remax-bluechip-yorkton-sk.ca

Phone: 306-783-1777 Four Seasons Realty Ltd

XXX GPVSTFBTPOTSFBMUZMUE DPN

306.948.5052 OfďŹ ce 306.948.9168 Cellular Tim.Hammond@Sasktel.net

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

Location! Location! Location!

307 Main Street, Rosetown, SK (Nickells & Diamonds) Incredible commercial property featuring 3,400 Sq Ft building with 2,420 Sq Ft of elegant, open retail space.

Updated and renovated.

Shows very well. $185,000 MLS. Optional jewelry / gift ware business available.

Potential Tenant willing to pay $1,500/mo. MLS 384857.

Demaine Hotel $399,900 Excl. Incredible Business Opportunity located in one of the best hunting, ďŹ shing & recreation areas in South Central Sask., close to Lake Diefenbaker.

Business revenue lines include: 7 hotel rooms, full service restaurant (seats 36), takeout pizza, beverage room licensed for 96, steak pit & VLTs. Loyal cliental & seasonal trafďŹ c generate excellent returns. Call for details.

A & D Foods, Perdue, SK $179,900 MLS 381333 Well established grocery store/liquor vendor located in Perdue (about 35 min. West of Saskatoon).

Very clean & well maintained.

Price includes: land, buildings, ďŹ xtures, & equipment. Inventory is extra and will be valued at cost upon completion (Typically $50K - $60K). Solid, consistent sales. Back currently used for ofďŹ ce & storage but was once used for a residence.

Re/Max Crown Real Estate Ltd.

A RARE FIND Saskatoon Apartment SUPERIOR LOCATION â&#x20AC;˘ 238 Main Street, Saskatoon SK â&#x20AC;˘ Quiet residential street â&#x20AC;˘ Bright & sunny corner lot â&#x20AC;˘ Boulevards & meridians on two sides â&#x20AC;˘ Three blocks to river & Broadway Ave â&#x20AC;˘ Within walking distance of downtown & university MAINTENANCE-FREE STRUCTURE â&#x20AC;˘ Masonry construction â&#x20AC;˘ 50-year cottage-style steel roof (R50) â&#x20AC;˘ Many other energy-efďŹ cient upgrades â&#x20AC;˘ Smoke-free & pet-free property â&#x20AC;˘ 15 years of continuous upgrades â&#x20AC;˘ 18 large & bright, well laid-out suites

$3,500,000 (Normalized net income of $200,000)

Contact: Doug (306) 222-5676

SASKATOON & SASKATCHEWAN SASKATCHEWAN OPPORTUNITY

3319 WELLS AVE. - SASKATOON â&#x20AC;˘ "FOR LEASE" 5,600 sq ft on 0.35 ac. â&#x20AC;˘ Dock & grade level loading doors

RAW LAND - NORTH SASKATOON â&#x20AC;˘ 160 Acres near Cathedral Bluffs â&#x20AC;˘ $790,000

SERVICED LAND - SASKATOON

Chorney Beach at Fishing Lake

â&#x20AC;˘ Serviced lots available now! â&#x20AC;˘ Locations throughout the city

#VJMEJOHT -BOE BOE #VTJOFTT (BT #BS 3FTUBVSBOU $POGFDUJPOBSZ -PVOHF BOE 'JWF 3FOUBM $BCJOT $795,000

Call SASKATOON

Kelly Kehoe

306-222-7878 or view at www.kellykehoe.com

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

SHADY BAY RESORT At Meeting Lake, Saskatchewan. 10.77 acres. Fully operational campground with 25 lots and an additional 28 possible. 30 amp and 20 amp service. Also 25 titled cabin lots. MLSÂŽ. $1,999,999.

KIRK FARM Five quarters of good producing farm land minutes north of Saskatoon. Good access.

One quarter has been subdivided into four 40 acre parcels. Great holding property. Owner may rent.

MLSÂŽ. $1,600,000.

DONE DEALS editorial feature will highlight deal ďŹ&#x201A;ow in Western Canada.

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Please send us the following information: UĂ&#x160; 7Â&#x2026;>Ă&#x152;Ă&#x160;Ă&#x153;>Ă&#x192;Ă&#x160;Ă&#x192;Â&#x153;Â?`Ă&#x160;Â&#x153;Ă&#x20AC;Ă&#x160;Â?i>Ă&#x192;i`ÂśĂ&#x160; UĂ&#x160; 7Â&#x2026;Â&#x153;Ă&#x160;Ă&#x153;>Ă&#x192;Ă&#x160;Ă&#x152;Â&#x2026;iĂ&#x160;Ă&#x203A;iÂ&#x2DC;`Â&#x153;Ă&#x20AC;Ă&#x160;­Â&#x2C6;vĂ&#x160;ÂŤÂ&#x153;Ă&#x192;Ă&#x192;Â&#x2C6;LÂ?iÂŽÂśĂ&#x160; UĂ&#x160; 7Â&#x2026;Â&#x153;Ă&#x160;Ă&#x153;>Ă&#x192;Ă&#x160;Ă&#x152;Â&#x2026;iĂ&#x160;LĂ&#x2022;Ă&#x17E;iĂ&#x20AC;Ă&#x2030;Ă&#x152;iÂ&#x2DC;>Â&#x2DC;Ă&#x152;ÂśĂ&#x160;

HALABURA FARM

UĂ&#x160; vĂ&#x160;Ă&#x152;Â&#x2026;iĂ&#x160;Â&#x2DC;>Â&#x201C;iĂ&#x160;Â&#x153;vĂ&#x160;Ă&#x152;Â&#x2026;iĂ&#x160;LĂ&#x2022;Ă&#x17E;iĂ&#x20AC;Ă&#x160;Â&#x2C6;Ă&#x192;Ă&#x160;VÂ&#x153;Â&#x2DC;wĂ&#x160;`iÂ&#x2DC;Ă&#x152;Â&#x2C6;>Â?]Ă&#x160;ÂŤÂ?i>Ă&#x192;iĂ&#x160;Ă&#x152;iÂ?Â?Ă&#x160;

Approx. 150 acres of land in the RM of Aberdeen north of Saskatoon. Land overlooks the South Saskatchewan River. 30 acres of virgin prairie not touched by agriculture. Fabulous views.

MLSÂŽ. $320,000.

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STEWART FARM

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313 +/- acres in the RM of Aberdeen. Only 4 minutes to Aberdeen on Clarkboro Ferry Road.

Presently rented for pasture. Great hobby farm setting.

MLSÂŽ. $320,000.

Please forward this information directly to

Frank Oâ&#x20AC;&#x2122;Brien,

BURKE LAKE

Western Investor Editor at

590 +/- acres 8 miles from Saskatoon on Hwy #5 around Burke Lake. Rolling hills and scenic views thru out. Excellent development property.

MLSÂŽ. $8,888,000.

Don Fry

RE/MAX Don Fry (306) 222-0053 or 1-866-664-3800 e-mail: don@donfry.com Photos at www.donfry.com

wieditor@biv.com.

FRANK O'BRIEN Editor

www.westerninvestor.com â&#x20AC;˘ 1-800-661-6988

Saskatchewan B27

WESTERN INVESTOR APRIL 2011 www.westerninvestor.com

facturers.

The mill produced conventional pulp and also paper when it was shut down in 2006 with the loss of several hundred jobs because of high costs. The paper machine was dismantled in 2008.

Paper Excellence will invest $200 million to convert the pulp mill to dissolving pulp, which is in strong demand throughout Asia because of the soaring cost of cotton. The project will provide 200 permanent jobs when remier Brad Wall left Regina in production.

March 8 for a trade mission to India The Province of Saskatchewan will alloand Bangladesh. With the help of the cate fibre, buy surplus power and make a $1 Saskatchewan Trade and Export Partnership (STEP), Wall’s primary mission million grant toward training.

Asia Pulp and Paper is one of the world’s is to increasing exports to these two counbiggest forest products groups and has been tries. The mission includes 41 companies, investing in Europe and North America to three post-secondary institutions and five ensure long-term pulp supplies. associations.

Members of the Prince Albert business com“The livelihoods of 18,000 Saskatchewan farm families are directly dependant on these munity expressed delight at news of the sale.

“I was ecstatic, personally,” Bergen Price, markets,” Wall said. “The purpose of this miswho is the CEO of the Prince Albert and sion is simple: we’re going to say thanks for your business, and work to find new opportu- District Chamber of Commerce, told a reporter from the local newspaper. “Obviously, with nities.”

Saskatchewan’s exports to India accounted 200 more jobs at a minimum created, and the trickle-down effect that it has with an operafor more than 40 per cent of Canada’s total exports to that country ($2.1 billion in 2009). tion such as that coming back into town, I think it’s absolutely huge for Prince Albert.”

Bangladesh is Saskatchewan’s second-largest pulse-crop export market. Saskatchewan’s exports to this country have grown at a rate of 90 per cent per year, over the last five years.

The visit also represents an important opportunity to encourage India to finalize arrangements that will allow Saskatchewan to askatoon building permits rose 52.1 be a supplier of high-quality uranium, a fuel per cent between January 2010 and that can play a major role in meeting India’s January 2011, spiking to $61.5 million from emerging energy needs. Wall also said that $40.4 million a year earlier, according to there is some work to be done in the area of Statistics Canada. trade liberalization.

However, between December 2010 and the first month of 2011, the value of building permits dropped by 41.6 per cent, falling from $105.3 million.

Provincially, Statistics Canada reported that Saskatchewan saw a 67.5 per cent increase in building permit values year-over year, rising to $199.2 million from $119 million in sia Pulp and Paper Co., through its European subsidiary, Paper Excellence, January 2010. The province recorded a 3.1 per cent drop in month-to-month permit values, is buying Domtar Corp.’s mothballed pulp falling from $205.7 million. mill in Prince Albert and will invest $200 Most of the province’s annual building permillion in order to convert it to production of specialty dissolving pulp for rayon manu- mits growth came from the non-residential 8)"5¤4 )"11&/*/( */

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“T

here is virtually no downtown or suburban office space available for tenants who want to expand or locate their businesses in [Regina],” noted Avison Young principal Dale Griesser.

At 1.8 per cent, Regina currently boasts the lowest office vacancy rate of all major markets in Canada. The current vacancy for class A buildings is a mere 0.86 per cent, while vacancy for class B+ premises is 0.28 per cent, or at virtually zero.

But the situation is about to change for Saskatchewan’s capital as developers begin new office towers.

“For years, there has been talk, but not a lot of action. Now, we are witnessing some of the most aggressive development of office buildings we’ve seen in decades – and we’re aware of much more to come,” Griesser said.

Harvard Development’s Tower Saskatchewan strong economics is driving demand III is Regina’s first new office for more office space, as evidenced by the 500,000 tower in 20 years. square feet of new product slated to come on stream between 2011 and 2013, including the first new downtown tower in 20 years.

New office construction currently underway includes Harvard Developments Inc.’s 208,000-square-foot Tower III at 12th Avenue and Hamilton Street in downtown Regina.

The project is targeted for completion in 2013. Other downtown and suburban developments expected to complete construction before 2013 include a four-storey, 80,000-square-foot office building at Albert Street and 11th Avenue; a three-storey, 55,000-square-foot medical office building at Pasqua Street and Dewdney Avenue; a 160,000-square-foot suburban office park near the Harbour Landing development; and other projects in various stages of planning.

“It’s not just the amount of space coming on the market that’s of interest to businesses wanting to locate or relocate to Regina, it’s the type of space and location,” notedRichard Jankowski, Avison Young principal and managing director of the Regina office. “The direct economic impact of these projects will be tremendous, notwithstanding the fact that these types of developments will lead to business growth and expansion.”

Saskatchewan is apparently already poised to experience one of the most aggressive and sustainable economic-growth patterns in its history. Royal Bank of Canada predicts the province will lead the nation again with real GDP growth of 5.3 per cent in 2011 after a national high of 6.3 per cent last year.

Regina recorded a 202.2 per cent year-over-year increase in the value of its building permits as of January, jumping to $108.2 million from $35.8 million the year prior, partly due to new office construction.

Photo: Harvard Development Inc.

P

Saskatoon builders busy

S

Asia Pulp buys Prince Albert mill

A

sector, which recorded a 110.6 per cent increase to $89.6 million from $42.6 million.

The province’s non-residential building permits also rose month-to-month, increasing by 9 per cent from $82.2 million in December 2010.

GRAIN LAND INVESTMENT OPPORTUNITIES

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363,520 SF floorplate on 13.774 acres located adjacent to CN spur line • Ideal for distribution, warehousing and/or manufacturing with high ceilings, freezer, cooler and warehouse • List Price: $18,870,000 Excl.

Long standing business Excellent business asset sale opportunity • List Price: $1,300,000 (asset sale) MLS® •

306 221 4249

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

FOR LEASE

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•

•

Lloyd Minion

Residential building permit values in Saskatchewan rose by 43.5 per cent between January 2010 and January 2011, jumping to $109.6 million from $76.4 million one year earlier. ◆

Ed Bobiash

Farm & Acreage Specialist 306-222-7770 s ed@edbobiash.com www.SaskLand4Sale.com Wakaw Gravel Land - 160 acres

240-103RD STREET EAST SASKATOON

1202 & 1204 EMERSON AVE SASKATOON 1.1 acres retail redevelopment land Visibility to 8th Street East with 37,000+ daily traffic volume • List Price: $2,500,000 MLS®

•

Ken Suchan 306 221 1825 ken.suchan@colliers.com

Kevin Johnson 306 281 9929 kevin.johnson@colliers.com

• •

•

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

MLS®

* Ken Suchan (Ken Suchan Realty Inc.) has a contractual relationship with Colliers McClocklin Real Estate Corp.

117-3RD STREET NE WEYBURN •

36,000 SF on three (3) levels One (1) on-site parking stall/435 SF • Net Lease Rate: $9.50/SF Excl.

•

•

•

Mike Kelsey 306 789 8300 mike.kelsey@colliersregina.com

D’Arcy Skwara 306 789 8300 darcy.skwara@colliersregina.com

FOR SALE/LEASE

1415 ONTARIO AVENUE SASKATOON

80,360 SF bldg. with 7,585 main warehouse, 2,700 SF second floor office and 24,576 basement warehouse • List Price: $5,950,000 • Net Lease Rate: $8.50/SF MLS® •

Glen Paziuk

3RD ST (RIVERVIEW CENTRE) WEYBURN 1,500-16,000 SF available Excellent highway exposure • Net Lease Rate: $20.00/SF Excl.

FOR SALE

3010 ARLINGTON AVENUE SASKATOON

+77,978 SF site with two (2) buildings Fully leased with excellent tenant mix • List Price: $5,450,000 MLS®

FOR SALE/LEASE

2525 WENTZ AVENUE SASKATOON

+62,228 SF site with three (3) buildings 4,350 SF retail/office space available • List Price: $5,750,000 • Net Lease Rate: $10.00/SF MLS®

•

•

•

•

306 241 8884

glen.paziuk@colliers.com

Brian Peberdy

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

306 221 6090

brian.peberdy@colliers.com

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

$350,000

Sterling Land = 70 +/- acres East of Saskatoon, bordering future development, rolling hills with natural bush $889,900 Tamke Land = 160 acres on blacktop South of Saskatoon $559,000. Other 160 acre pkgs priced @ $299,900 and $349,900 Great Riverview Property 110.43 acres overlooking North Saskatoon River. $179,900 Bradwell Grain land - very good production, 630 acres in a block w/treated waterline curb stop, currently rented for 2011 crop year. $599,900

View these MLS® listings on my website www.SaskLand4Sale.com

B28 Saskatchewan/Manitoba

SASKATOON APARTMENTS

FARMLAND FOR SALE LOCATED SW OF REGINA

www.westerninvestor.com APRIL 2011WESTERN INVESTOR

MARVELOUS MANITOBA! Growth Opportunities in Killarney MB. Known for it's beautiful Lake, community services & vibrant agriculture industry. Just 30 minutes east of MB. oil fields!

1280 ACRES 9 Round steel storage bins Crops include: wheat, barley, flax, peas & more Asking $595,000 or puchase 160 Acres for $80,000

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INVESTMENT OPPORTUNITY 129 – 21st Street East, Saskatoon, SK 6-Storey building, downtown core Total leaseable area: ±10,487 sq. ft.

Sale Price: $2,200,000.00 Contact: Doug Hall

phone: 1-250-748-2719 Fax: 1-250-748-0532 dmanj@shaw.ca

INVESTMENT OPPORTUNITY C-STORE/VIDEOS/GAS LOCATED ON MAIN ENTRANCE INTO NIPAWIN, SK Land Size: 39,000 sq. ft.

Building Size: 1,471 sq. ft.

Sale Price: $400,000.00 Contact: Eugene Hritzuk

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Thriving motor hotel with 19 rooms, 120 seat bar, licensed dining, meeting venue, vendor, VLTs. Room to grow .

Westman.com

Please call:

204-761-6884

GRANT TWEED

grant@tweed.net www.granttweed.com

INVESTMENT OPPORTUNITIES Saskatoon, SK Nightclub/Restaurant: $750,000 Bar/Restaurant: $750,000 Pub/Offsale/Restaurant: $650,000 Contact: Josh Walchuk and David Kerr

Downtown office: 306.664.6116

10,000 + square foot commercial building. Former auto dealership with display lot. Great exposure, easily adapted to other ventures.

INVESTMENT OPPORTUNITY 700 Lincoln Street, Hanley, SK Land Size: 3.29 acres Building Size: 4,800 sq. ft. (120’ x 40’) Sale Price: $575,000.00 Contact: John Kachur and Corey Peterson

North office: 306.933.2929

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B29

WESTERN INVESTOR APRIL 2011 www.westerninvestor.com

COVER Winnipeg is buzzing about potential return of NHL franchise – but there is plenty of other action

5

“The Jets coming back to Winnipeg would be huge, just huge”

leveraged for economic gain,” he said.

“That’s the magic of professional sports. It’s up to us to incorporate that asset into our strategy and use it to our advantage.”

Angus said last month’s announcement that a world-class polar bear exhibit will open at the Winnipeg zoo in 2013 will be a “tourist magnet.”

On top of that, the nearly finished new terminal building at the Richardson International Airport and the recently approved new stadium for the Canadian Football League’s Winnipeg Blue Bombers at the University of Manitoba campus will continue to transform the city.

“People who haven’t been here for a few years will be amazed,” he said.

Angus said he’s also optimistic that the efforts of Yes! Winnipeg, a private-sector-led initiative with a two-pronged goal to attract corporate head offices to Winnipeg and to increase the size of current firms in the city, will bear fruit, too.

He said it has already played an instrumental role with three companies that have decided to open or expand in the city and it currently has 37 active opportunity files under development across nine sectors. They include trying to convince a prominent U.S.-based retailer to establish its Canadian head office and regional distribution centre in Winnipeg and a Quebecbased company to select Winnipeg as the site

Photo: Winnipeg Chamber of Commerce

where it thinks it can make a decent buck and only stays as long as it thinks it will keep makWESTERN INVESTOR ing a decent buck,” McCallum said.

“We’ve got an economy with one million he Manitoba capital is buzzing people that cranks out about $50 billion a year with anticipation of the National in GDP. I think the numbers work here. I think Hockey League returning after the economic base exists here.” a 15-year absence as attempts to keep the Phoenix Coyotes – the former Winnipeg .BKPS ESBX Jets – in the desert seem to be unravelling The return of the Jets, or whatever the team further with each passing day. might be called, would instantly make Rumours and media reports have been gain- Winnipeg a destination location for people as ing steam that the proposed sale of the team far west as Regina, east to Thunder Bay and to Chicago businessman Matthew Hulsizer is south to Grand Forks and Fargo, North Dakota. in trouble as an Arizona-based watchdog has Coupled with other attractions, such as an threatened to sue the City of Glendale if it fol- IKEA store and the Canadian Museum for lows through on plans to sell $116 million in Human Rights, both of which are scheduled bonds to help fund the deal. The Goldwater Institute maintains the transfer of bond proceeds to Hulsizer violates the gift clause in the state’s constitution that forbids giving taxpayer money to private companies.

If the deal falls apart, it’s expected the hockey team will be purchased byTrue North Sports & Entertainment, a company controlled by to open in a couple of years, Winnipeg’s future the Chipman family in Winnipeg and David is becoming increasingly bright, he said.

“It will be a real positive if you can get peoThomson, Canada’s richest man. “The Jets coming back to Winnipeg would be huge, ple to come here for a four-day weekend for just huge,” said John McCallum, a finance these attractions,” he said.

Dave Angus, the president and CEO of the professor at the I.H. School of Business at the Winnipeg Chamber of Commerce, agreed.

University of Manitoba.

The relocation of the team would be a sig- He said the return of the Jets – or perhaps the nificant vote of confidence in the city, as it Atlanta Thrashers, a second NHL team that would propel Winnipeg back into the elite could be relocated before this fall – would club of municipalities in North America that be a significant branding opportunity for can support a major league sports franchise. It Winnipeg.

“We know what sports franchises mean to would also signify how far the city has come since the team left at the end of the 1995-96 a city in terms of international branding and awareness and the positioning of our city in season, he said.

“It would sure say we’re a major league city. terms of being a major city in Canada. It helps It would say we have the spending power and to have that recognition when you’re trying to the economic base to support a sport at the very do trade development or chamber-to-chamber highest level that it’s played at in the world. work to identify opportunities to different areas Professional sports isn’t a charity, it only goes around the world. That’s an asset that can be GEOFF KIRBYSON

Photo: MTS Centre

#JH MFBHVF DJUZ

(TOP) Winnipeg’s MTS Centre arena, now home to the Manitoba Moose, is ready to welcome the NHL. (INSET)Old Winnipeg Jets logo.

(LEFT) Construction is nearly complete for the expansion of the Richardson International Airport.

for a new hospitality concept.

“We’re going to see announcements coming from them in terms of job creation and the attraction and expansion of companies locally that will continue over the next few years. I’ve never seen so much momentum in my 11 years [at the chamber] related to economic development,” he said.

)PVTJOH

The good vibrations throughout the city are expected to trickle down to Winnipeg’s housing market, too. It should remain strong for 2011 and the foreseeable future, primarily due to the city’s vacancy rate of 0.8 per cent, which is among the lowest in the country, according to Wes Schollenberg, a principal

Please see Immigrants page B30

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Seating for 64. Second half of building set up as a conference/meeting room but could be used as second restaurant. $399,900 Shanna Karle

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B30 Franchises

www.westerninvestor.com APRIL 2011WESTERN INVESTOR

COVER 24-year-old manager began as a hostess and credits an emphasis on service for first-year success

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The latest opening was in mid-February when De Dutch began serving customers at its new location in Maple Ridge. It followed new stores in South Surrey, Vancouverâ&#x20AC;&#x2122;s West Side and in New Westminster.

De Dutch president Bill Waring praised the new franchisees, and passed on congratulations to the youngest.

Michelle Kendall, 24, has managed her South Surrey franchise within its first year of operation to such a successful level that it is deemed a De Dutch case study for a winning business model.

Kendallâ&#x20AC;&#x2122;s first-year sales were 20 per cent over her projected sales, with costs on or below budget â&#x20AC;&#x153;and a healthy salary for herself,â&#x20AC;? Waring said. â&#x20AC;&#x153;She started as a hostess in our system at 17, became a general manager at 24 and acquired her own franchise shortly thereafter.â&#x20AC;?

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*..*(3"/54 from B29

with Avison Young and manager director of its Winnipeg office. â&#x20AC;&#x153;You just canâ&#x20AC;&#x2122;t rent in Winnipeg,â&#x20AC;? he said. â&#x20AC;&#x153;If you sold your house and were an empty nester and wanted an apartment, you canâ&#x20AC;&#x2122;t find one. Even if you were going to spend $1,500 per month, it would be very difficult to find one,â&#x20AC;? he said.

The average house in Winnipeg is a 1,100-square-foot, three-bedroom bungalow that sells for about $240,000. Schollenberg said the market rose between 8 per cent and 10 per cent in 2010 and itâ&#x20AC;&#x2122;s expected to do about the same this year.

He said the strength of the market can be partly attributed to the 15,000 immigrants who come to Manitoba every year, with about half of them settling in Winnipeg. Not only do they put pressure on the apartment and housing stock, but they also help out in related areas by spurring the sales of appliances, furniture, decks and food. â&#x20AC;&#x153;The big home centres are very busy. There is a significant amount of cocooning going on. People are doing more renovating [to their homes] than ever before,â&#x20AC;? he said.

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Demand for industrial space is on the rise in Winnipeg as nearly all of the current stock, most of which was built in the 1970s, has low ceilings and isnâ&#x20AC;&#x2122;t very energy efficient, is virtually all leased up, according to Avison Young.

Photo: De Dutch Pannekoek House Restaurants Inc.

e Dutch Pannekoek House Restaurants Inc. has delivered on a promise made last year to carry out its largest business development plans in over a decade with the opening of four new franchises since February 2010.

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ONTARIO

WESTERN INVESTOR

Kendall said she needed an investor to allow her to purchase the De Dutch franchise, but she credits an emphasis on service for making her 13-staff outlet such a success. â&#x20AC;&#x153;I moved to the area so I get close to the community,â&#x20AC;? she said, â&#x20AC;&#x153;and we put a lot of emphasis on making sure our regular customers are happy. You have to know your customers.â&#x20AC;?

She said working within an environment that she was familiar with also provided an opportunity to hit the ground running. â&#x20AC;&#x153;De Dutch is a proven business model that works well,â&#x20AC;? she said.

It also comes down to hard work and attention to detail. Kendall, single, said, â&#x20AC;&#x153;I spend every day here [at the restaurant] and I am really picky about the food and the presentation.â&#x20AC;?

The 35-year-old De Dutch franchise now has 21 B.C. locations, in the Lower Mainland, Vancouver Island, Fraser Valley, the Okanagan and the Cariboo. De Dutch Pannekoek House specializes in breakfast, brunch and lunch, offering a blend of European ethnicity in its menu.

The total investment for a De Dutch franchise is from $350,000 to $450,000, including an initial franchise fee of $30,000. There is also a 5 per cent royalty fee and a 3 per cent Franchisee Michelle Kendall: first-year sales 20 per cent over projections. advertising fee. â&#x2014;&#x2020;

SASKATCHEWAN

KEVAN Oâ&#x20AC;&#x2122;BRIEN

MANITOBA

Brandon

WINNIPEG 1

â&#x153;Ş

75

17

Kenora

U.S.A.

8JOOJQFH . # Population 720,000 Average house price $240,000 Apartment vacancy rate 0.8 per cent Office vacancy rate 9 per cent

Schollenberg said Winnipegâ&#x20AC;&#x2122;s retail vacancy rate is at its lowest point in 15 years while the office vacancy rate remains stable at around 9 per cent.

McCallum believes Winnipeg will perform slightly better than the Canadian economy in terms of gross domestic product and job creation in 2011 thanks, in part, to many local businesses that have carved out niche markets selling into the U.S. â&#x20AC;&#x153;Weâ&#x20AC;&#x2122;re not going to lead the country but I think Winnipeg will put up some pretty solid numbers,â&#x20AC;? Schollenberg said.â&#x2014;&#x2020;

Join thousands of real estate investors and professionals who read the Western Investorâ&#x20AC;&#x2122;s market overviews, news, and features to help them guide their investment dollars into profitable properties and businesses. Plus, youâ&#x20AC;&#x2122;ll find all kinds of opportunities for sale â&#x20AC;&#x201C; all in one place â&#x20AC;&#x201C; from across Western Canada.

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Franchises B31

WESTERN INVESTOR APRIL 2011 www.westerninvestor.com

News, views and updates on

Top pet franchises

involves weave poles, tunnels, teeter-totters and other equipment. The company began franchising in 2009 and to date has sold seven units. No previous dog-training experience is required to become a Zoom Room franchisee.

The average total startup costs for a Canada’s franchise industry Zoom Room franchise range from $95,185 to $171,160, which includes the $35,000 fran$73,000 in capital for a single-unit operation. chise fee, plus three months’ rent, operating Pet Depot: Labrador Franchises Inc.’s Pet expenses, initial inventory, utilities, equipDepot has been in business since 1991, began ment, signage, permits, legal fees, training, software and marketing support. franchising in 2001 and today has 34 units, plus one veterinary hospital. Pet Depot has recently expanded to Canada.

New franchises with both a retail store and hospital can be built for an upfront $40,000 fee. For retail stores only, the initial fee is $30,000. Additional startup costs range from $250,000 to $800,000 for equipment, inventory and training, says founder Roman Versch. Some areas may require buyers of ny new franchisor in Canada will want the company’s veterinarian hospital to be to know how to create a fee structure licensed veterinarians. that is fair to its franchisees but will also Camp Bow Wow: With over 275 locations benefit the system and still allow the franin North America, Colorado-based Camp Bow chisor to be profitable. Both parties should Wow provides 24-hour care for dogs. This be in a position at the end of each month includes large indoor and outdoor play areas, to realize a reasonable return on their campfire treats, baths and cabins with cots, respective investments. plus home-care services such as dog walking, Some franchisors may simply think that waste removal and pet sitting. Over 200 Camp they should mimic the initial franchise Bow Wows are planned to open across North fees and royalty fees that their competitors America in the next year. In Canada, it has charge, however they should resist the tempone camp, in Nova Scotia. Camp Bow Wow tation. From a business perspective, franchiwas founded in 2000 and started franchising sors should want their fee structures to be in 2003. It charges buyers a $50,000 francompetitive – but different product and serchise fee with initial startup costs averaging vice price points across different systems can $150,000 for basics, such as property leases translate into different fees being charged to and training. franchisees.

Dogtopia: This doggy daycare franchise Generally, franchisors will charge an iniprovides overnight boarding, spa treatments, tial franchisee fee payable on the franchisee training classes and an array of retail items signing the franchise agreement. Franchisors for dogs. On a local level, Dogtopia franchioften assume that this is straight profit for sees throughout Canada have established them, but the typical business reality is relationships with local rescue shelters, dog that the franchise fee should be an amount parks, schools and other organizations in that compensates the franchisor for its own dozens of communities. The company was administrative, legal and accounting costs to founded by Amy Nichols in 2002 and began grant the franchise, assist in getting the new offering franchises in 2005. The estimated franchised location operational and provide initial investment to purchase a Dogtopia any agreed-upon training. ranges from $242,900 to $458,300, plus the Most franchisors will also charge a monthly company’s franchise fee of $40,000. royalty fee, which is typically reflected as Zoom Room: Founded in 2007, Zoom Room a percentage of the franchisee’s gross sales. specializes in dog-agility training, which An advertising or marketing fee is common

Setting the franchise fee can prove tricky

Photo: Camp Bow Wow

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Camp Bow Wow is among the top pet franchises in North America.

D

o you consider yourself a pet person?

Are dogs really a man’s best friend?

Perhaps you’re considering getting into franchising, and what would be better than doing something you love. Pet service franchises include everything from pet waste removal services to agility and obedience training. Here’s a list of some of the top pet franchises in the business.

Aussie Pet Mobile: The world’s largest petgrooming service mentioned in a previous edition of Franchise News just announced it has opened its first two locations in British Columbia. Following up with its planned announcement to have 40 locations in Canada within the next two years, two new locations in North and West Vancouver are set to open in early 2011. A scaleable business requiring no commitment to real estate or retail shop leases, the Aussie Pet Mobile franchise fee starts at $29,000 and requires a minimum of

to be charged to franchisees, usually by way of a franchisee contribution to a franchise advertising fund, which is administered by the franchisor for the benefit of the system as a whole.

Some other fees, which may be chargeable by a franchisor, include a sublease administration fee where a franchisor subleases the premises to the franchisee; a software maintenance fee; an ongoing training fee; and, perhaps, a waste diversion fee.

Chad Finkelstein is a franchise lawyer at Dale & Lessmann LLP Toronto and can be reached at cfinkelstein@dalelessmann.com or 416-3697883.

Kumon taps tutouring demand

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umon, a Japanese-style tutouring system, has reached 50,000 student enrolments in its after-school math and reading programs in Canada.

“With centres in over 45 countries, we’re absolutely a global organization,”said Lisa Kaul, general manager, Kumon Canada. “But if you walked into any one of those centres, what you’d discover is a very communityminded individual running a very local business.”

Students are taught a unique learning approach to math and reading via an individual program plan. With over four million students currently enrolled, the Kumon method has been widely accepted as a supplemental program to accelerate learning, Kaul added.

Kumon centres are individually owned and operated, with 15 operating in the Metro Vancouver area. Instructors for the franchise must have at least a four-year university degree and a vested interest in helping the education of children in their community.

Kumon currently has 1,500 centres in the United States and 300 in Canada, with more than 24,000 worldwide. To start up a Kumon franchise, applicants need to pay a $1,000 franchise fee, and from $30,000 to $100,000 for a storefront office of at least 800 square feet. ◆ – Compiled by Kevan O’Brien

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