Western Investor May 2011 Section B

www.naicalgary.com INVESTMENT SALE Foothills Industrial Calgary 9% Cap Rate - 63,000 sq. ft. - 2.6 acres - 10 year term Daniel Goldstrom Tel: (403) 809-8326 dgoldstrom@naicalgary.com

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

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

BUSINESSES FOR SALE FLOOR COVERINGS - CALGARY AREA - REDUCED! Established more than 20+ years. Stable staff, long term customers. Revenue $5M & steady. EBITDA $460K (2010). $1,375,000 with normalized 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 Vendor loan considered.

PAVING BUSINESS - PRINCE GEORGE 2010 revenue $1.1M (up 20%). 2011 busier. 2010 EBITDA $351K with owner wage. Batch Plant and 2 gravel pits - lots of equipment. $829,000 plus working capital.

For a List of All Businesses Call: Craig Tennock Tel: 1-877-880-7290 craig@naicommercial.ca GRANITE & CABINET BUSINESS • Turn Key Operation • Showrooms, Office and Shop • Fixtures & Equipment • Located in major city in western Canada • Land and Building may be available Jim Courtney Tel: (403) 291-8873 jcourtney@naicalgary.com SEEKING RIGHTS RETAIL / OFFICE / SELF STORAGE • Size 0.5 - 5.0 acres • Vacant Land or Suitable Buildings • Calgary - Core or Suburban Jim Courtney Tel: (403) 291-8873 jcourtney@naicalgary.com

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

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

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

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

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

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

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.

Real estate pros meet in Canada’s hottest market

▲

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

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.

29 SASKATOON HOSTS FORUM

Saskatchewan developer, forum speaker Neil Evans of Pillar Properties: “We never saw it slowdown” idt

27 DEVELOPERS PLAY CATCHUP

Demand for Regina retail, office, industrial caught most off guard

31 TROUBLED FUND SELLS KFC

Photo: Judy Gray

FOR SALE/LEASE 97 Prairie Place SE, Calgary Size - 4.7 Acres Asking Price - $1,699,000 Zoning - Light Industrial

$4.29 MAY 2011 Vol. 26/Issue 5

232 fast-food outlets dumped as Priszm seeks bankuptcy protection SPECIAL SECTION • B12

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

Saskatchewan Investment Opportunities www.colliers.com/saskatoon +1 306 664 4433

www.colliers.com/regina +1 306 789 8300

Accelerating successs.

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

www.westerninvestor.com MAY 2011WESTERN INVESTOR

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

www.colliers.com/kelowna

PRINCETON INDUSTRIAL ESTATES

LAND OPPORTUNITIES Tower Ranch ACRES ZONING IN PLACE FOR UNITS ,IST 0RICE $22,500,000 M. McAnerney* / C. Biafore Gellatly Bay ACRE SEMI WATERFRONT MULTI FAMILY DEVELOPMENT SITE WITH /KANAGAN ,AKE VIEWS LOCATED ACROSS FROM 7ESTBANK 9ACHT #LUB ,IST 0RICE $4,500,000 M. McAnerney* / J. Hudson* Kaleden ONE HECTARE PARCELS ON QUIET CUL DE SAC DIRECTLY ACROSS THE STREET FROM 3KAHA ,AKE %STATE LOT OR DEVELOPMENT OPPORTUNITY ,IST 0RICE $495,000 M. McAnerney* Peachland ACRES ON (WY ZONED # AND SUPPORTS GAS STATION RESTAURANTS AND MORE ,IST 0RICE $699,000 UNDER PSF COURT ORDERED SALE M. McAnerney*

s FULLY SERVICED LOTS AVAILABLE IN NEW INDUSTRIAL PARK s 3IZES RANGE FROM ACRE UP TO ACRES Call broker for pricing MIKE GEDDES

JEFF HUDSON* (Personal Real Estate Corp ) MARSHALL MCANERNEY* ( Personal Real Estate Corp) CHAD BIAFORE, BBA

3575 ALCAN ROAD, KELOWNA

ORCHARD MOBILE HOME PARK

s SQ FT BUILDING g FRONTAGE ON (WY s g (WY FRONTAGE DOCK HEIGHT LOADING BAYS Price Reduced: $2,950,000 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)

996 LAVAL CRESCENT, KAMLOOPS

s OVER SQ FT OF REFRIGERATED WARE HOUSE LONG TERM TENANTS s &/2 ,%!3% SF AND SF g CEILINGS OFFICE AREA AND LOADING DOCK PSF ...

List Price: $1,895,000 LARRY GOOD ( Kamloops)

STRAWBERRY CREEK, OSOYOOS

s SQ FT BAY SHOP AND PAINT BOOTH ON ACRES WITH A SQ FT RESIDENCE BD BTH WITH FANTASTIC VIEWS List Price: $1,299,000 MIKE GEDDES

INDUSTRIAL STRATA - KELOWNA

s SF WITH SF MEZZANINE OFFICE SPACE BAY DOORS HIGH CEILINGS 3ELLER WILL CONSIDER LEASEBACK OR SALE OF BUSINESS AND ASSETS List Price: $1,080,556 MARSHALL MCANERNEY ( Personal Real Estate Corp) CHAD BIAFORE

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

Syd Berisoff Agent/Broker

201-1449 St . Paul St., Kelowna, B.C. V1Y 2E5

O f fice: Fax:

250-862-8100 250-984-0803

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 syd@syberrealty.com

WILLIAMS LAKE s 0AD MOBILE HOME PARK OWNERS DOUBLE WIDE s 3ITE FULL SERVICE R.V. 0ARK s %VERYTHING IS IN TOP NOTCH CONDITION s 4HIS IS A GREAT INVESTMENT PACKAGE 2EDUCED $1,395,000

CACHE CREEK s ,ONG TIME FAMILY OWNED RESTAURANT OPERATION s 31 &4 X LEVELS CEMENT BLOCK BUILDING s SEAT BANQUET s ,IVING AREA STAFF QUARTERS READY TO GO 2EDUCED $395,000

BARRIERE s UNIT MOTEL 2 6 PADS s 2EADY FOR EXPANSION ON OVER ACRES s YRS OLD AND ABSOLUTELY IMMACULATE s -OTIVATED SELLER $695,000

VANCOUVER ISLAND !CRE R.V PARK UNIT MOTEL .EWER LODGE

STORE LIVING AREA $895,000

NEW DENVER 5NIT MOTEL

SEAT PUB

SEAT RESTAURANT

LIQUOR STORE LICENSE $659,000

CHRISTINA LAKE "EAUTIFUL

IMMACULATE UNIT MOTEL 'REAT LIFESTYLE $1,259,000

D

SOL

VANDERHOOF 5NIT MOTEL

2 6 SITES

&REE STANDING HOME $498,000

D

SOL

D

SOL

PEMBERTON 5NIT MOTEL

!CRES "IG PRODUCER $895,000

D

SOL

D

SOL

s s s s

PENTICTON s 5NIT MOTEL WITH KITCHENS s !CROSS THE STREET FROM ,AKE OKANAGAN s "EDROOM LAKE VIEW OWNERS HOME s "EDROOM MANAGERS SUITE 3ALT WATER POOL s !CRE OF PRIME REAL ESTATE 2OOM FOR MORE UNITS $ 3,198,000

SOUTHERN CARIBOO s 3PECTACULAR ACRES ON ,OON ,AKE s 7ATERSIDE CABINS R 6 SITES s # STORE GAS SALES RESIDENCE BOATS s !BOUT WATERFRONTAGE s (UGE DEVELOPMENT POTENTIAL $1,995,000

RADIUM HOT SPRINGS 5NIT MOTEL IN FORECLOSURE 'REAT OPPORTUNITY $425,000

D

SOL

LYTTON s UNIT MOTEL MODERN OWNERS SUITE s !LWAYS A GREAT PRODUCER s -INIMAL COMPETITION s 3PECTACULAR SETTING VIEWS 2EDUCED $529,000

FERNIE 5NIT FRANCHISED MOTEL 'REAT CENTRE OF TOWN LOCATION $1,495,000

D

SOL

SOUTH OKANAGAN -OTEL UNITS "REW PUB

RESTURANT $2,599,000

D

SOL

YELLOWHEAD HIGHWAY 3PECTACULAR UNIT OWNER MOTEL 3UPERB CONDITION 2OOM TO EXPAND !CRES 3EPARATE SHOP HOME 'ROSSING NEAR MILLION $2,999,000

BOWRON LAKES s 3PECTACULAR "ECKER S ,ODGE s &ABULOUS LOG BUILDINGS #ABIN STORE s 3ERVICE 26 0ARK RENTAL CANOES KAYAKS s ! lRST CLASS OPERATION $2,200,000

ADAMS LAKE s FREESTANDING CABINS LARGE NEWER SHOP s 3PACIOUS HOME ON NEARLY WATERFRONT ACRES s /VER ON !DAMS ,AKE NEAR #HASE " # s .EW YEAR LAND LEASE FULLY EQUIPPED MARINA s # STORE GAS SALES BOAT HOUSEBOAT RENTALS $689,000

$0/5&/54 .": */5&3*03 # $ Â… "-#&35" Â… 4"4,"5$)&8"/ Â… ."/*50#" 4&$5*0/ 41&$*"- 4&$5*0/ Â… #

FEATURES 29 0/ 5)& $07&3 3FBM &TUBUF 'PSVN PQFOT

On the cover Neil Evans, president and CEO of Pillar Properties, at Pilllar’s University Heights shopping centre.

Photo: Imagery Photography

First time for major industry meeting in Saskatchewan

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

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

13 3FDSFBUJPO CVZFST GMZJOH TPVUI

Bargain-priced U.S. vacation homes lure Canadians

19 $BMHBSZ¤T BJSQPSU ESJWFT JOEVTUSJBM NBSLFU

Expanded cargo facilities, new road links pave the way Download a PDF of all our Regional Roundups online at www.westerninvestor.com

27 3FHJOB¤T GBTU HSPXUI TVSQSJTFE NBOZ

Developers rush to meet commercial real estate demand

2–12 */5&3*03 /035)&3/ # $ 3&"- &45"5&

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

16–25 "-#&35" 3&"- &45"5&

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

25–30 4"4,"5$)&8"/

."/*50#"

3&"- &45"5&

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

31 '3"/$)*4&4

COLUMNS 30 8)"5¤4 )"11&/*/( */ ."/*50#" 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

#4-1385 STEVENS RD 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

BROCO AUTO GLASS – KELOWNA is a solid franchise opportunity with one of the best names in the glass business. With an already proven business model they will train, coach and assist you through the whole process.

Available: $250,000 MLSÂŽ

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

DOWNTOWN KELOWNA – COMMERCIAL STRATAS AVAILABLE This is an opportunity to own your own commercial strata unit in the downtown core ranging in sizes from approx. 838 - 2,194 square feet. One block away from city hall and two from the law courts.

Available For Sale: $251,550 - $668,264 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.

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

LAND ASSEMBLY

FORMER CIBC PRICED TO SELL

in North Glenmore / University district. Minutes from Kelowna's International Airport. One side abuts golf course in Quail Ridge subdivision.

Approx. +/- 115.68 acres in total available for purchase. Asking: $773,500 - $9,132,800 MLSÂŽ

Subject property is located in an area which is increasingly being re-developed into an upscale commercial area. The lands are fee simple with 13 parking spaces on the property. The 6,337 sq ft is broken down with 4,362 sq. ft. on the main oor and 1,975 on the second. MLSŽ

B4 Interior British Columbia

www.westerninvestor.com MAY 2011 WESTERN INVESTOR

THE WAY WE WORK: no.

3

THERE’S NO SUBSTITUTE FOR COMMON SENSE.

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 find solutions perfectly suited to your business banking needs. Learn more at theworkingbank.ca.

Interior British Columbia B5

WESTERN INVESTOR MAY 2011 www.westerninvestor.com

RANCH & ACREAGE FOR SALE BY TENDER COPPER CREEK VALLEY PARCEL #1: W 1/2 of NE 1/4 SEC 36, TP 21, PID# 007-047-312, Lot 1 Plan KAP68234, PID# 024931-161 407 Acres Home Ranch - Shop c/w Suite, Mobile Home, Barns etc.

Hayland, 360 GPM well, 900 AVM range permit PARCEL #2: SW 1/4 NE 1/4 SEC 1, TP22, PID# 007-047-355 160 Acres Partial Hayland - 140 GPM well PARCEL #3: NW 1/4 SEC 1, TP 22, PID# 002-373-874 Partial Hayland

160 Acres

PARCEL #4 LOT 1 PL KAP52752, 018-850-979 Hayland

103 Acres

PARCEL #5: SE 2/4 SEC 11, TP22, ExC. SW 1/4 LS2, PID# 002-373-815 80 GPM Well 160 Acres PARCEL #6 SW 1/4 OF LS10, SEC11, TP22, 002-373-831

10 Acres

Hydro & Telephone to all properties All offers to be submitted to Royal LePage Kamloops on or before June 1, 2011 Deposit cheque for 5% of offer - Payable to Royal LePage Kamloops - In Trust - Balance of funds must be paid in full by June 15, 2011 Offers accepted on any or all parcels Highest offer not necessarily accepted Persons submitting offers must rely on their own research, inspection of land and improvements as to condition and # of acres.

No offers will be considered which are subject to financing.

BUSINESS LOANS & MORTGAGES

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

UÊÊ"«iÀ>Ì }ÊLÕÃ iÃÃiÃÊ Ê «iÀ>Ì }Ê > ÃÉ i>ÃiÃÉ ÌiÀ Ê > Ã UÊÊ ÕÃ 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 ÕÃ iÃÃÊ* > ÃÊ Ê iÜÊEÊiÝ ÃÌ }ÊLÕÃ iÃÃiÃ

ALL OFFERS TO BE OPENED AT 10:00 AM SATURDAY, JUNE 4, 2011.

Please forward bids and inquires to:

Wayne Gardner C: 250-558-9516 O: 250-374-3022 322 Seymour St V2C 2G2

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

A no obligation assessment is just a call away.

10 INCOME PRODUCING LAKEFRONT RV LOTS

$1,250,000 + HST

R.N. (Ron) Palmer CIM, AMP Phone (250) 446-2868

Please visit our website or call for more details.

monarkinvestments.ca

Email: rpalmer@lincsat.com www.ronaldpalmer.com

604-592-7250

Financing Available. Potential Trades.

KAMLOOPS REALTY

INVITATION TO PURCHASE WATERFRONT DEVELOPMENT PROPERTY IN PEACHLAND, B.C.

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

TWO NORTH OKANAGAN SELF STORAGE FACILITIES

D. Manning & Associates Inc., in its capacity as Receiver-Manager of the Property of 0748151 B.C. Ltd. (“the Company”) 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. (“the Property”).

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-Manager’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:

UÊ } Ê Ý« ÃÕÀiÊ ÜÞÊ ÇÊ V>Ì UÊ{ÓÇÊ1 ÌÃÊ V Õ` }ÊÇäÊ i>Ìi`Ê1 Ìà UÊ£ÎäÊ³É Ê"ÕÌ` ÀÊ-Ì À>}iÊ-«>Vià UÊÈ°äÓ Ê VÀiÃÊUÊ, Êv ÀÊ Ý«> à UÊ" ÞÊÈÊ9i>ÀÃÊ" `Ê UÊ/ «Ê+Õ> ÌÞÊ-Ì>ÌiÊ vÊÌ iÊ ÀÌÊ >V ÌÞ UÊ-i iÀÊ >ÞÊV>ÀÀÞÊ ÀÌ}>}i UÊ À ÃÃÊfÈÓä]äää³É

UÊ } Ê Ý« ÃÕÀiÊ V>Ì UÊÓxnÊ1 ÌÃÊ« ÕÃÊnäÊ"ÕÌ` ÀÊ-Ì À>}iÊë>Vià UÊÓ°Ç£Ê VÀiÃÊUÊ, Êv ÀÊ Ý«> à UÊ VÀiÌiÊL V ÊV ÃÌÀÕVÌ UÊ > >}iÀ¿ÃÊÀià `i Vi UÊ ° °Ê/ «Ê£äÊ1 >Õ Ê V>Ì UÊ-i iÀÊ >ÞÊV>ÀÀÞÊ ÀÌ}>}i UÊ À ÃÃÊf{ ä]äää³É

Asking Price $6,750,000

Asking Price $4,995,000

COURT ORDERED FORECLOSURE SALE – MOTIVATED SELLER INDUSTRIAL BUILDING – SUMMERLAND

UÊÓ°È{Ê VÀiÊ- ÌiÊÊUÊÊÎä]äääÊõ°ÊvÌ°Ê-Ìii Ê À> iÊBÕ ` }ÊÜ Ì ÊÈ{nÊõ°ÊvÌ°Ê vwÊViÊë>ViÊ UÊ Õ ÌÊ ÊÓääÇÊÊUÊ*À Vi`ÊLi ÜÊfxäÊ*- ÊUÊÊ< }Ê> ÜÃÊ Õ iÀ ÕÃÊ«iÀ ÌÌi`ÊÕÃià ÊJust Reduced - New Asking Price $1,850,000

LAND – OSOYOOS 21.8 ACRES – PRIME HOLDING PROPERTY UÊ À iÀÊà ÌiÊ Ê } ÊÌÀ>vwÊV]Ê } ÊiÝ« ÃÕÀiÊ V>Ì ÊÜ Ì Ê ÛiÀÊ£]äääÊvÌ°Ê } Ü>ÞÊÎÊ vÀ Ì>}iÊ« ÕÃÊ£]£ÇxÊvÌ°ÊÃiV `>ÀÞÊÀ >`ÊvÀ Ì>}iÊUÊ/ Ü ÊÃiÜiÀÊEÊÜ>ÌiÀÊ>ÌÊ ÌÊ i UÊ6iÀÞÊV ÃiÊÌ Ê > iÊUÊ V Õ`iÃÊ ÕÃiÊEÊ «iÀ>Ì }Ê ÀV >À` NEW Asking Price of $2,400,000 BIG PRICE REDUCTION – 2.13 ACRE DEVELOPMENT SITE

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

UÊ/ ÕÀ ÃÌÊ iÀV > Êâ }ÊUÊ À Ì>}iÊ ÊÎÊÀ >`ÃÊUÊ*À iÊ V>Ì Ê ÞÊÎääÊviiÌÊÌ Ê > i UÊ V Õ`iÃÊÀi Ì> Ê ÕÃiÊUÊNEW Asking Price $695,000

MOBILE HOME PARK – MERRITT UÊÓäÊ- ÌiÃÊ Êx°nÓÊ>VÀià UÊ ÌÞÊÃiÜiÀÊ> `ÊÜ>ÌiÀ UÊ Ê*>À Ê Ü i`Ê L iÊ ià UÊ* ÕÃÊÎÊÀi Ì> Ê ÕÃiÃÊEÊ£ÊDÕ« iÝ UÊ Ý«> à ʫ Ìi Ì > UÊ Õ> Ê}À ÃÃÊ V iÊf£Èx]äääÊ³É Asking Price $1,595,000

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.

B6 Interior British Columbia

www.westerninvestor.com MAY 2011WESTERN INVESTOR

SALMON ARM, B.C.

East Side Marioâ&#x20AC;&#x2122;s Franchise For Sale

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.

Located on the Trans Canada Hwy in the heart of Salmon Arm, BC $749,000 MLSÂŽ Vendor ďŹ nancing available

SALLY SCALES

Call Paige Gregson or Bill Hubbard Century 21 Executives Realty Ltd. 1-877-227-4073

sallys1@telus.net or 250-832-4831

LOOKING FOR A LARGE BUILDING FOR YOUR BUSINESS?

KAMLOOPS, BC & AREA

5600 sf building on large .70 acre lot in Osoyoos, BC Industrial Park. 3200 sf on main level with shop, ofďŹ ce, storage, washroom, lunch room. Plus 2400 sf 4 bdrm suite above with huge sundeck.

This building has a separate furnace & A.C. for each ďŹ&#x201A;oor & a furnace for the shop area. Building could be expanded or converted to other uses.

Osoyoos needs a pet grooming & boarding facility.

This is an ideal location. This is priced way below replacement value. M-1 zoning. $675,000 Call Bill Robertson

1-877-495-7522

Email yrent@telus.net

cell: 1-866-623-5556

Okanagan South

BUSINESS AND INVESTMENT OPPORTUNITIES UĂ&#x160;Ă&#x160; >Ă&#x20AC;}iĂ&#x160; >VÂ&#x2026;Â&#x2C6;Â&#x2DC;iĂ&#x2030;7iÂ?`Â&#x2C6;Â&#x2DC;}Ă&#x160; -Â&#x2026;Â&#x153;ÂŤĂ&#x160; â&#x20AC;&#x201C; Suitable for investor or owner/operator. Includes land & buildings. fĂ&#x201C;°Ă&#x201C;xĂ&#x160; Â&#x2C6;Â?Â?Â&#x2C6;Â&#x153;Â&#x2DC; UĂ&#x160;Ă&#x160; Â&#x2DC;Ă&#x203A;iĂ&#x192;Ă&#x152;Â&#x201C;iÂ&#x2DC;Ă&#x152; â&#x20AC;&#x201C; 4 units in 1 building, established tenants with commercial tenants in place. $319,000 UĂ&#x160;Ă&#x160; Â&#x2DC;`Ă&#x2022;Ă&#x192;Ă&#x152;Ă&#x20AC;Â&#x2C6;>Â?Ă&#x160; iĂ&#x203A;iÂ?Â&#x153;ÂŤÂ&#x201C;iÂ&#x2DC;Ă&#x152;Ă&#x160; >Â&#x2DC;` - 130 acres, with highway and railroad access. Reduced to $995,000 UĂ&#x160;Ă&#x160;*Ă&#x20AC;Â&#x2C6;Â&#x201C;iĂ&#x160; Â&#x153;Â&#x201C;Â&#x201C;iĂ&#x20AC;VÂ&#x2C6;>Â?Ă&#x160; qĂ&#x160; Â&#x153;Ă&#x153;Â&#x2DC;Ă&#x152;Â&#x153;Ă&#x153;Â&#x2DC;Ă&#x160; >Â&#x201C;Â?Â&#x153;Â&#x153;ÂŤĂ&#x192; Busy corner location. Can be leased for one or several tenants or for sale at f£°{Ă&#x160; Â&#x2C6;Â?Â?Â&#x2C6;Â&#x153;Â&#x2DC; UĂ&#x160;Ă&#x160; Â&#x153;Â&#x201C;Â&#x201C;iĂ&#x20AC;VÂ&#x2C6;>Â?Ă&#x160; Ă&#x2022;Â&#x2C6;Â?`Â&#x2C6;Â&#x2DC;}Ă&#x160;â&#x20AC;&#x201C; 2 tenants - plus storage + fenced compound - 8.5% cap rate on asking price of $450,000

UĂ&#x160; Clearwater, BC â&#x20AC;&#x201C; Mobile Home Park land. 15 acres plus 2.7 acres commercial, fronts on highway. Super buy !Ă&#x160;Ă&#x160; $289,000 UĂ&#x160;Ă&#x160;Kamloops â&#x20AC;&#x201C; 4000 sq ft building ½ acre lot, commercial mix. High trafďŹ c area Ă&#x160;Ă&#x160; $788,000 or lease @ $12.00 triple net UĂ&#x160;Ă&#x160;Clearwater, BC â&#x20AC;&#x201C; Chinese restaurant land, building, Âź acre lot, equipment, liquor license, 4 bedroom suite. $289,000 UĂ&#x160;Barriere, BC â&#x20AC;&#x201C; 5 unit mini mall plus full basement, hwy frontage, plus vacant lot to expandĂ&#x160;$399,900 UĂ&#x160;Ă&#x160;Louis Creek, BC â&#x20AC;&#x201C; 2.49 acres creekside parcel.

9yr old 1600 sq ft rancher with suite, plus 6 rental pads for park model homes. Most tenants away for winter. Plus extra large 30â&#x20AC;&#x2122; x 50â&#x20AC;&#x2122; detached shop â&#x20AC;&#x201C; ďŹ ts a motor home. Ă&#x160; $795,000 UĂ&#x160;Ă&#x160;Chase, BC â&#x20AC;&#x201C; Pub liquor store, restaurant on main ďŹ&#x201A;oor. 14 rooms on 2nd ďŹ&#x201A;oor which need substantial work reďŹ&#x201A;ected in price.Ă&#x160;Ă&#x160;Super buy $600,000 UĂ&#x160;Ă&#x160;Kamloops â&#x20AC;&#x201C; Franchise hair salon in largest mall.

Great for hair stylist/owner $129,900 Reduced $89,500 UĂ&#x160;Ă&#x160;Kamloopsâ&#x20AC;&#x201C; New ofďŹ ce retail building to be built.

3414 sq ft ideal professional ofďŹ ce in busy residential sub div. $2668 plus triple net lease UĂ&#x160;Ă&#x160;Clearwater, BC â&#x20AC;&#x201C; 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 Ă&#x160;UĂ&#x160;Ă&#x160;Kamloops â&#x20AC;&#x201C; INVESTORS â&#x20AC;&#x201C; 8% Cap rate restaurant. Fronting E Trans Canada Hwy. Leased out. $8,000/mo triple net. $1,200,000

Call MARVIN MATT

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

1-250-319-8784 ""*-Ă&#x160;, /9Ă&#x160; / °

mmatt@shaw.ca

www.realestatekamloops.ca

@6BADDEH Business Opportunity! s %XCITING NEW BUSINESS LOCATED IN 3AHALI -ALL ON #OLUMBIA 3TREET s 3PECIALTY RETAIL STORE OFFERS EXCLUSIVE TOYS GAMES ENVIRONMENTALLY FRIENDLY SUSTAIN ABLE INCLUDING LOCALLY MADE WOODEN TOYS SUITABLE FOR CHILDREN OF ALL AGES ADULTS AND EDUCATIONAL PROFESSIONALS s !NNUAL NET PROl T OF APPROX AFTER WAGES EXPENSES s %XCELLENT GROWTH POTENTIAL INCLUDING EXISTING SUPPLEMENTARY ONLINE SALES

Asking Price $50,000 plus inventory

Investment Opportunity!

773 Victoria Street s 'REAT INVESTMENT OPPORTUNITY s SQ FT ON MAIN m OOR AT GRADE PLUS SQ FT MEZZANINE s 0RIME LOCATION DOWNTOWN AMPLE PARKING ON

SQ FT LOT s 6ENDOR DOWNSIZING CAN VACATE ON MONTHS NOTICE

Asking Price $875,000

Mona M. Murray Dip. ULE, RI (BC), CPM OfďŹ ce: 250-372-2277

Email: mona@mcmrealestate.ca

www.mcmrealestate.ca

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 ConďŹ dentiality agreement will be required

6 ,

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TRADES CONSIDERED ON SELECT PROPERTIES FAMILY ESTATE, CORPORATE RETREAT OR SPA/WELLNESS DESTINATION UĂ&#x160;Ă&#x160;" Ă&#x160; " Ă&#x160; Ă&#x160; Ă&#x160; qĂ&#x160; Ă&#x160; / Ă&#x160; , -/Ă&#x160; *, 6 / Ă&#x160; WATERFRONT *,"* ,/9Ă&#x160;" Ă&#x160; Ă&#x160; ° Easily adapted to your dream! Two titles. 2.54 ultra private acres with 254â&#x20AC;&#x2122; easy-swimming lakeshore. No through road adjacent to Kalamalka Provincial Park.

Designed by Vancouver Architect, Peter Frank ToďŹ n, to take full advantage of the lakeviews with numerous open and comfortable livings spaces, 7 bedrooms with private baths PLUS a stratiďŹ ed two bedroom suite.

Fabulous grounds with spectacular rock escarpment, meadow, mature trees and pristine lakeshore, enhanced with terraced lawns, lighted pathways, sittings areas, waterfront dock and wharf! This Kalamalka gem is barely 10 minutes from downtown Vernon and 30 minutes from the Kelowna international airport. $4,900,000 MLSÂŽ UĂ&#x160;Ă&#x160;" Ă&#x160; Ă&#x160; Ă&#x160; Â&#x2021;/ Ă&#x160;" Ă&#x160; - ", Ă&#x160; -/ / t Just imagine - your private piece of paradise - 22.5 untouched acres with 1750 ft of pristine Okanagan Lake waterfront! Exhilarating views! Several excellent building sites The best of the Okanagan - barely 15 minutes from the City of Vernon $4,900,000 MLSÂŽ " Ă&#x160;,

UĂ&#x160;Ă&#x160;Ă&#x2C6;nÂŁĂ&#x160; , Ă&#x160;, Ă&#x160;­",Ă&#x160;*"/ / Ă&#x160; 6 "* /ÂŽ 20 minutes from Kelowna International Airport & City of Vernon. Adjacent to world class Predator Ridge Golf Course and Sparkling Hills International Resort. Rolling, open and treed land with some stunning Kalamalka Lake views. 180 acres out of ALR. $6,495,000 MLSÂŽ NURSERY UĂ&#x160;Ă&#x160; Ă&#x160; ,/Ă&#x160;" Ă&#x160; " -/, Ă&#x160;6 9t Turn key operation! Steady Growth!

Equipment, automated greenhouse, vehicles, comfortable home with suite, ofďŹ ce. 20 prime irrigated acres w/ set up for horses. $1,600,000 MLSÂŽ COMMERCIAL UĂ&#x160;{°Ă&#x2C6;Ă&#x201C;Ă&#x160; , -Ă&#x160; Ă&#x160; 1 Industrial land. 40,000 sq.ft. in two bldgs. 3 phase power. I2 zoning. Railway Trackage.

Currently operates as small sawmill & wood remanufacturing plant. 10 mins from Vernon adjacent to ready supply of dimensional lumber. $2,250,000 MLSÂŽ UĂ&#x160;Ă&#x160; " , Ă&#x160; 1 Ă&#x160;/"Ă&#x160;-/, / 9 Multi-tenant building with stratiďŹ cation process well underway. Good income producing bldg with upside capital appreciation if stratiďŹ cation completed. Easy access in busy northend of City. $2,095,000 MLSÂŽ UĂ&#x160; " " 1 Ă&#x160; , -!

Premium storage with a difference â&#x20AC;&#x201C; YOU OWN IT! New GARAGETOWNVERNON complex offers 47 fully customizable storage garages. 20x48, 24x48 with 14 & 16â&#x20AC;&#x2122; overhead doors plus ultra convenient drive through model. Ideal for RVS, boats, collectors,retail and business overďŹ&#x201A;ow. Level 3 acre site w/ quick access to all major routes. Deluxe, fully furnished Owners Lounge. Offering preconstruction incentives from $125,900 EXC.

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

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

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

Interior B.C./Business Opportunities B7

WESTERN INVESTOR MAY 2011

North Okanagan Security Alarm Company Sales, Service, Monitoring

LAKE OKANAGAN RESORT Fully furnished one bedroom suite on Lake Okanagan just minutes from Kelowna.

Enjoy the marina, golf, tennis, pool, spa, ďŹ tness centre, beach, walking trails, ďŹ ne dining & other amenities Lake Okanagan has to offer.

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

CALL 250-804-3080

$ $ $ + ##$ + ) + $ -- $+ $#+ $ + + + ##+ ( + " ( +% +! + + +* + 4 + ( + + , + + # + $ +

Asking $115,000 Call RAY STAFFORD 250-549-0198 Vernon Management Real Estate

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ALF SANDERSON

604-691-6646 or 1-866-717-6989 alf@naicommercial.ca

]fi ]lcc [\kX`cj fe k_`j ^i\Xk Ylj`e\jj fggfikle`kp%

Niche market in pickup truck accessories.

Established clientele, in business for 20+ years.

Very easy to run, no manufacturing involved.

Nets abt $250K p/a. $750K, including premises worth $250K+. Owner retiring, selling shares.

Want to move to the Okanagan but not yet ready to retire? This is your chance. You can choose your degree of involvement. Run the business or hire a manager to do it for you. One person can run the show. Some parts are manufactured locally, others imported. Owner willing to stay for up to 6 mths to help with transition.

250-575-2920 899634@gmail.com

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OKANAGAN MEAT SHOP & DELI UĂ&#x160;ÂŁĂ&#x201C;Ă&#x160;Ă&#x17E;i>Ă&#x20AC;Ă&#x192;Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160;LĂ&#x2022;Ă&#x192;Â&#x2C6;Â&#x2DC;iĂ&#x192;Ă&#x192;]Ă&#x160;>Ă&#x153;>Ă&#x20AC;`Ă&#x160;Ă&#x153;Â&#x2C6;Â&#x2DC;Â&#x2DC;Â&#x2C6;Â&#x2DC;} UĂ&#x160;7iÂ?Â?Ă&#x160;>ÂŤÂŤÂ&#x153;Â&#x2C6;Â&#x2DC;Ă&#x152;i`Ă&#x160;>Â&#x2DC;`Ă&#x160;vĂ&#x2022;Â?Â?Ă&#x17E;Ă&#x160;iÂľĂ&#x2022;Â&#x2C6;ÂŤÂŤi` UĂ&#x160; Ă&#x20AC;Â&#x153;Ă&#x192;Ă&#x192;Ă&#x160;Ă&#x192;>Â?iĂ&#x192;Ă&#x160;VÂ&#x153;Â&#x2DC;Ă&#x192;Â&#x2C6;Ă&#x192;Ă&#x152;iÂ&#x2DC;Ă&#x152;Â?Ă&#x17E;Ă&#x160;Â&#x153;Ă&#x203A;iĂ&#x20AC;Ă&#x160;fÂŁ $550,000 inc equipment

KELOWNA BUSINESS

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OKANAGAN CATTLE RANCH REDUCED UĂ&#x160;Ă&#x201C;ÂŁĂ&#x201C;°Ă&#x2C6;Ă&#x201C;Ă&#x160; VĂ&#x20AC;iĂ&#x192;Ă&#x160;Ă&#x20AC;>Â&#x2DC;VÂ&#x2026;Ă&#x160;Â?Â&#x153;V>Ă&#x152;i`Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160; iĂ&#x20AC;iÂ&#x201C;iÂ&#x153;Ă&#x192;]Ă&#x160;

UĂ&#x160;Ă&#x160;Ă&#x17D;Ă&#x160;Â&#x201C;>Â&#x2DC;Ă&#x2022;v>VĂ&#x152;Ă&#x2022;Ă&#x20AC;i`Ă&#x160;Â&#x2026;Â&#x153;Â&#x201C;iĂ&#x192;]Ă&#x160;Ă&#x17D;Ă&#x160;Â&#x2026;>Ă&#x17E;Ă&#x160;L>Ă&#x20AC;Â&#x2DC;Ă&#x192;]Ă&#x160;Â&#x2026;Â&#x153;Ă&#x20AC;Ă&#x192;iĂ&#x160; L>Ă&#x20AC;Â&#x2DC;]Ă&#x160;ÂŤĂ&#x2022;Â&#x201C;ÂŤĂ&#x160;Ă&#x192;Â&#x2026;i`Ă&#x160;EĂ&#x160;iÂľĂ&#x2022;Â&#x2C6;ÂŤÂ&#x201C;iÂ&#x2DC;Ă&#x152;Ă&#x160;Ă&#x192;Â&#x2026;Â&#x153;ÂŤĂ&#x160;Ă&#x153;Ă&#x2030;Ă&#x160;Ă&#x192;Ă&#x2022;Â&#x2C6;Ă&#x152;iĂ&#x160; UĂ&#x160;7>Ă&#x152;iĂ&#x20AC;Ă&#x160;EĂ&#x160;}Ă&#x20AC;>âÂ&#x2C6;Â&#x2DC;}Ă&#x160;Â?Â&#x2C6;ViÂ&#x2DC;Ă&#x192;iĂ&#x160;vÂ&#x153;Ă&#x20AC;Ă&#x160;xÂ&#x2122;Ă&#x201C;Ă&#x160; 1 ° UĂ&#x160;6iÂ&#x2DC;`Â&#x153;Ă&#x20AC;Ă&#x160;wÂ&#x2DC;>Â&#x2DC;VÂ&#x2C6;Â&#x2DC;}Ă&#x160;>Ă&#x203A;>Â&#x2C6;Â?>LÂ?i $1,950,000 excl equip & livestock

!

+ + %

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

KELOWNA & OKANAGAN ACREAGES 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 MLSÂŽ # 10022364 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. ......................... $1,190,000 MLSÂŽ # 10026652 15.8 ACRES - Located in Lake Country with spectacular lake and valleys views. Short walk to beaches. Very private spot to build your dream home! ..................................... $699,000 MLSÂŽ 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 MLSÂŽ #10022369 19 ACRES - In S.E. Kelowna with 2 homes and large detached garage and hay barn. Fully irrigated ďŹ&#x201A;at hay land in desirable country setting. ....................Asking $1,900,000 MLSÂŽ #10018678 20 ACRES - In S.E Kelowna. Valley bottom ďŹ&#x201A;at hay land with small creek. Large barn with 2 bedroom suite, 2 bedroom mobile home + small cabin ........ $1,450,000 MLSÂŽ #10018056 34 ACRES - Located in Shuswap area 10 minutes drive North of Salmon Arm. Has 2 homes, numerous out buildings, lots of timber and has a very private setting. ............. $439,000 MLSÂŽ 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 MLSÂŽ # 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 MLSÂŽ # 10021439 160 ACRES - In Oyama area half way between Kelowna and Vernon. 3 legal Titles. Has Pink Shale Rock Quarry. Seller will carry ďŹ nancing or take trades............. $1,450,000 MLSÂŽ # 10024181 287 ACRES - 10 minute drive south of Vernon near Predator Ridge Golf Course. Spectacular lakeviews. Sellers will consider trades and or carry ďŹ nancing. $4,900,000 MLSÂŽ # 10019393

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

B8 Interior British Columbia

www.westerninvestor.com MAY 2011WESTERN INVESTOR

Each office is independently owned and operated.

OKANAGAN LAKE

PRINCETON, BC

BUILDING, BUSINESS & MORE

INCREDIBLE VALUE FOR THIS DEVELOPMENT PROPERTY IN VERNON, THE OKANAGAN'S* #1 CITY

$399,000 FOR SALE

was $3,250,000 NOW $2,890,000 !!!

2% -!8 6ERNON

FOR SALE â&#x20AC;&#x201C; 350 PRISTINE ACRES City of Vernon â&#x20AC;&#x201C; OfďŹ cial Community Plan Designated Hillside Residential Reserve City services at Property line 5 legal lots â&#x20AC;&#x201C; over 1 mile road frontage Adjacent to Predator Ridge World Class Golf Course and Sparkling Hill Resort and Spa â&#x20AC;&#x201C; International clientele Information package available upon request $21,700,000 LARRY BENNETTO Cell 1-250-308-6025 Bennetto & Associates 1-800-667-2040 RE/MAX Vernon www.bennetto.ca

MoneySense 2011

ATTENTION DEVELOPERS! MLSÂŽ 10020000 SHOW HOME Three lots with room for development.

Restaurant comes complete with everything you need for business including liquor license.

ROBERT CROWE

JUDY KLASSEN

RE/MAX Real Estate 604-263-2823

RE/MAX country 250-295-3222

robert@robertcrowe.ca

judyklassen@remax.net

l

s #ITY APPROVED R1, R4 & C1 ZONING

tia

n ide

s

Re

s )NCL OLDER HOME SHOW HOME COMMERCIAL LOT s #LOSE TO SCHOOLS SHOPPING

C1

s 7ALKING DISTANCE TO /+ ,AKE

INCREDIBLE INVESTMENT AND OPPORTUNITY

Total Seclusion & Unobstructed Lakeviews!

s 0ROPOSED UNIT DEVELOPMENT ON 11.49 acres WITH EASY ACCESSES

Show Home

Older Home

s !CROSS FROM YEAR ROUND RECREATIONAL FACILITY OFFERS SUBJECT TO COURT APPROVAL

MLSÂŽ 10013937 $1,475,000 PRICED WELL BELOW REPLACEMENT COST! Luxury custom built 5400sf San Marc walkout rancher + 1116sf triple garage. Professionally landscaped, underground services. Entertainers Dream! 75 acres for outdoor enthusiasts to play!

Not in ALR. 10 mins. to shopping in West Kelowna & Peachland.

Call TAMARA to book an appointment to view toll free 1-877-212-5111 or e-mail tamaraterlesky@gmail.com TAMARA TERLESKY, Personal Real Estate Corpora tion, RE/MAX Kelowna

SICAMOUS, BC INVESTMENT OPPORTUNITY â&#x20AC;&#x201C; LAND, BUILDINGS & BUSINESS

Excellent opportunity to purchase high proďŹ le mini storage and ice manufacturing business on 1.62 acres in Sicamous, BC. Property also contains Subway bldg with long term lease. Located at junction of Trans Can Hwy and Hwy 97A. Potential for subdivision as well as redevelopment strategies (Highest & Best Use- strip mall/motel/hotel). $1,550,000

For survey, zoning, floor plans & more, visit

HeidiLussi.com

The HEIDI LUSSI Real Estate Team RE/MAX Vernon 5603 â&#x20AC;&#x201C; 27th Street, Vernon, BC V1T 8Z5

Deutsche Beratung

1-800-667-2040 heidi@heidilussi.com

Heidi Lussi Personal Real Estate Corporation

SOUTH THOMPSON BLACK CANYON RANCH: Located 8 km from Ashcroft, BC. One of the areaâ&#x20AC;&#x2122;s MOST spectacular ranches, bordering the Thompson River and famous Black Canyon. Known for their quality horse breeding, this property was built for the equestrian enthusiast.

19 stall mare barn, wash rack, indoor arena, ofďŹ ce building, main residence, secondary residence and numerous outbuildings. One title, 320 acres, aprox 140 acres irrigated crop & pasture land, 20 acres irrigated horse paddocks, 160 grazing, + 485 acre grazing lease, 7 full wheel lines, various hand lines. Water is 100% gravity powered. $1,990,000 ESTABLISHED FISHING RESORT: Great opportunity to own a lakeshore Resort on Loon Lake! Well established Marigold Resort consisting of multiple cabins, central washrooms, boathouse, boat launch, camping sites and full store with living quarters.

Four + acres and 4 separate titles all zoned C-1 (commercial) A variety of options for the buyer depending on their requirements. Good ďŹ nancials. $1,390,000

SALMON ARM, B.C. 15-SUITE APARTMENT BLOCK

BROOKSIDE RV CAMPGROUND, Cache Creek, BC: 11.4 acres across from the Semilin Valley Golf course on Highway #1. Approximately 95 sites, in-ground pool, large clean washrooms, showers and laundry. Property is all treed and Cache Creek runs through it. Consistent gross income approximately $185,000 per year. Park is in excellent condition and has full living quarters. Great Highway High Exposure! $998,000

Excellent investment opportunity!

$1,550,000

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

RE/MAX Shuswap

For Further Information Contact

RE/MAX Golden Country Real Estate Services Ltd. Toll Free 1-800-557-7355 or Email: remaxashcroft@telus.net Web: www.goldencountry.ca

Each office is independently owned and operated.

WESTERN INVESTOR MAY 2011 www.westerninvestor.com

Interior/Northern British Columbia B9

Look Here For

Waterfront Estate Acreage Osoyoos, BC

Your Next Investment Opportunity

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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.

$3,750,000

250.752.6419

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.

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

Full municipal services Develop to your plans on your schedule

E-Mail: lkirsch@shaw.ca

Founded in 1967, this very successful and well known company manufactures and distributes several lines of outdoor productsto residential, commercial and industrial clients.

IRON CREEK LODGE - HOT NEW PRICE !!! $638,888

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.

$280,000 annual income

LIGHT MANUFACTURING AND DISTRIBUTION COMPANY FOR SALE

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.

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INVESTMENT SITE 7 ACRES LAKEFRONT

4.35 million sale price

Ken Effa

ABBOTSFORD - 2.5 ACRES - $699,900

OKANAGAN

Aside from its own retail operations, the company also supplies a growing national network of 16 dealers.

Having established itself as a market leader, and having established strategic business alliances, the company is well positioned for further rapid growth.

Our production facility is based in the Beautiful Okanagan Valley of British Columbia.We have a staff of 11 to 14 well-trained dedicated employees, that ensure the quality of our products and the smooth operation of our facility The company provides great returns on investment/cash ďŹ&#x201A;ow, and unlimited proďŹ ts with the continued expansion of product lines and dealers.

Asking price: $1,450,000 For more information please contact Kevin at: kevinq752@hotmail.com or call 250-826-6040 ConďŹ dentiality Agreement Required

COLDWELL BANKER COMMERCIAL WORLDWIDE A MAJOR HYDRO AND OTHER LARGE CONSTRUCTION PROJECTS UNDERWAY IN OUR AREA C-STORE, GAS BAR, LIQUOR STORE, POST OFFICE FIBRE GLASS TANKS, NEW PUMPS

QUALITY INN 48 ROOMS RESTAURANT AND MEETING ROOMS. STRATEGICALLY LOCATED ON HIGHWAY 3 AT THE ENTRANCE TO THE WEST KOOTENAYS IN CASTLEGAR

HOTEL & LIQUOR STORE & RESTAURANT $1,490,000

$2,495,000

$799,000

INTERNATIONAL SCHOOL

18,000 SQ. FT. DISTRIBUTION OR MANUFACTURING CENTRE

WINNIPEG HOTEL $799,000

NICELY LOCATED WITH ADEQUATE PARKING AND FENCED STORAGE CALL US TODAY ON THIS OPPORTUNITY

AREA $749,000

POTENTIAL CO GEN PLANT

FURNITURE & APPLIANCE

100 ACRES s ,ARGE )NDUSTRIAL 3ITE s -AJOR 0OWER ,INE s 'AS ,INE s 2AIL ,INE

$750,000 1ST TRAIL REAL ESTATE LTD.

LAND, BUILDING, BUSINESS 37,500 SF OF NEWER BUILDING

$1,990,000

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

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

B10 Northern British Columbia

www.westerninvestor.com MAY 2011WESTERN INVESTOR

Sicamous, BC

FOR SALE OR LEASE TERRACE, B.C.

Multi-Unit Residential 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.

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

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Priced to sell at $1,200,000 For Further Information Contact:

JOHN EVANS johnevans@remax.net or 250-638-7001 KELLY BULLEID kellybulleid@remax.net or 250-615-8688 OFFICE @ 250-638-1400

Call the

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

RE/MAX COAST MOUNTAINS

FOR SALE INDUSTRIAL/COMMERCIAL IN FORT ST. JOHN, B.C. ANNETTE REEDER

250-785-4394 areeder@telus.net TRUCK SHOP WITH OFFICES located in Prospect Park, 14,000 SF steel shop with 11 bays (holds 16 trucks), in floor and radiant heat; 3 phase electrical, city services, 16â&#x20AC;&#x2122; doors. Space can be divided into 3 separate shops.

Large lot with lots of parking.

GARY REEDER

250-262-0182 gary@ggreeder.com

Newly renovated facility comes with all lounge and fitness equipment plus fi tness & aerobics instructors etc, rental & sales inventory. Large membership and client base with very popular thriving sports lounge. The only centre to play squash, racquetball, and volleyball in the Fort St. John area.

GARY REEDER REALTY LTD.

LISTED AT $1,300,000 ( BELOW CURRENT MARKET APPRAISAL )

B 10756 - 100 St. Fort St. John, B.C. V1J 3Z6

EVERGREEN INDUSTRIAL SUPPLIES 3MITHERS "# $2.1m s !SSET SALE INCLUDES l XED ASSETS PLUS INVENTORY M M s 'ROSS SALES APPROXIMATELY

s SG LEASED LOCATION ON ACRES WITH HIGHWAY EXPOSURE s 0RODUCT LINES INCLUDE 3KIDOO 3TIHL

#AN!M AND *OHNSERED s %XTENSIVE HYDRAULIC WIRE ROPE TOOLS AND SAFETY RELATED PRODUCT s 3ERVICING FORESTRY SAWMILLS MINING AND RECREATIONAL IN .ORTH CENTRAL "#

HIGHWAY 16

LISTED $460,000 Building is also available for purchase or lease.

Subscribe OVER $2.5 BILLION WORTH OF INVESTMENT OPPORTUNITIES EVERY MONTH FIRST CLASS DELIVERY â?? One Year .............$42

Name Title Company

â?? Two years ............$75

Smithers BC. $1Mil

â?? Three years .......$105

s ACRES - INDUSTRIAL s (IGHWAY ACCESS AND EXPOSURE s PHASE POWER AVAILABLE s 5SES INCLUDE EQUIPMENT SALES

REPAIR SHOPS FUEL SALES s %XCELLENT LOCATION AS YOU ENTER Smithers

Bill my:

â?? Visa â?? American Express â?? MasterCard â?? Cheque enclosed

GST Registration No. 10565567 GST Included

Address City Prov Postal code Phone

Fax E-mail

Credit Card No. Expiry Signature

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

5 ACRES M-2 highway frontage (Smithers) $2M

LEO LUBBERS

FITNESS & RACQUET CENTRE WITH SPORTS LOUNGE

Bulkley Valley

Cell s OfďŹ ce s Fax 250-847-9039

www.realestatesmithers.com lubbers@realestatesmithers.com

$42 could make you millions!

Northern British Columbia B11

WESTERN INVESTOR MAY 2011 www.westerninvestor.com

Burns Lake

NORTHEAST BC REALTY Ltd. Phone 250 785 4115

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

BUSINESS OPPORTUNITY

For Sale

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

BUSINESS FOR SALE - FORT ST JOHN BC

Extreme Tangerine Spa & Tanning Well established business location.

Located along 100th Street - offers high visibility and access to many amenities.

Located on large lot (leased) that provides ample space for staff and client parking.

Business includes; spa equipment, furnishings, signage, goodwill and business name.

Business currently offers stand up and lay-down tanning beds, facials, pedicures, manicures and more!

Burns Lake and Area Representative

(Inventory to be negotiated)

ASKING $99,000

MLSÂŽ N4504659

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 DENNIS BOCK

NO DROP INS

Call Ron for information package or to arrange to view

PRINCE GEORGE

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

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250-692-3530 www.landahome.ca

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

9242 Milwaukee Way

1550 â&#x20AC;&#x201C; 1st Ave.

481 â&#x20AC;&#x201C; 3rd Ave.

770 Brunswick St.

1921 Upland St.

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

One of a kind opportunity. 3 concrete block warehouses on 3 Acres. 44,080 sq ft total space. Well maintained with 11 loading doors, 13 O/H doors, 3 Phase Power & highway access.

23,240 sq ft Industrial Building on 3.88 Acres located at the Danson Industrial Park. Zoned M-2. Has a seven year carefree Lease.

Well maintained Industrial building.

Front-end ofďŹ ce, showroom, mezzanine, lunchroom, etc. Warehouse/shop area has high ceilings, radiant heat, 14â&#x20AC;&#x2122; O/H door & 400 amp 3-phase power.

8% Cap Rate

Exceptional 12 unit apartment building. 9 units fully renovated. Good location, well maintained property. 8% Cap Rate.

FOR LEASE â&#x20AC;&#x201C; 492 sq ft high-end RETAIL space. Located in Prince Georgeâ&#x20AC;&#x2122;s premier hotel lobby.

Zoned C-5. Gross rate lease.

www.beelazee.ca

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

Lot #1 Atwood Rd.

Fraser Lake, B.C.

Proposed new subdivision. 17 â&#x20AC;&#x201C; 4 Acre + high quality rural residential lots.

78.8 Acres total. Within 14 km of the Westgate Shopping Plaza.

Municipal development park. 6 lots â&#x20AC;&#x201C; Highway Commercial and 8 lots â&#x20AC;&#x201C; Light Industrial.

9080 Penn Rd.

FOR LEASE â&#x20AC;&#x201C; 25,660 sq ft quality warehouse 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 & 996 Central St.

26485 Telegraph Rd. Vanderhoof, B.C. Ideal wildlife

Blackwater Rd.

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.

30 minutes from the City. Approx. 15 km down Blackwater Rd.. Three properties available totalling 1,097.93 Acres plus a woodlot license. Some gravel, mostly logged.

9368 Milwaukee Way

1396 â&#x20AC;&#x201C; 5th Ave.

Located on corner of 10th and Central St. Must be sold together. Value is in the land. Currently zoned RS-2, the City says can be re-zoned to C-4.

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

FOR LEASE â&#x20AC;&#x201C; 1,955 sq ft of professionally designed second-ďŹ&#x201A;oor, top-quality OFFICE space. Gross rate lease.

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

KEN Goss

250-565-7653

GEORGE Weinand

250-960-9556

THINK REAL ESTATE...The Best Investment on Earth

B12 Northern B.C./ Recreational Real Estate HOT PROPERTIES

MAY 2011 WESTERN INVESTOR

DAWSON

CREEK

www.dawsoncreekrealestate.ca

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

The Yucatan Peninsula has become one of the best investments in the Caribbean.

We have property options for all needs and budgets. Starting at only $75,000 and with ďŹ nancing options available.

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

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

Contact: caribbean@transcaribbeantrust.com or 011-52-998-882-1143

#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.

#10029 RETAIL STOREFRONT on 102nd Ave. for sale, 3500 sq. ft on a corner location, paved parking, good visibility can be used for ofďŹ ce, retail, or your own small business. Owner will consider leasing as well

www.transcaribbeantrust.com

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#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

#10010 - WELDING / MACHINE SHOP for sale Includes 12â&#x20AC;&#x2122; door, 13â&#x20AC;&#x2122; ceilings, 3 phase power, 23o Volt/400 amp service. Gravel yard, 100 sq. ft. ofďŹ ce with shower & bathroom. Fire hydrant, 2 overhead cranes.

#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 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.

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FOR LEASE - Prime location on Alaska Ave. in Dawson Creek - close to all retail and downtown and still on main artery through the City. Total of 17,000 sq. ft. of new space and can be divided into whatever you need. High end restaurant opening soon, lots of parking.

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FORT. ST. JOHN MOVE YOUR BUSINESS HERE!

10611 - 100th Ave 5000 sq. ft. free standing building for LEASE offering a high trafďŹ c corner location. $22.00/ sq ft + triple net MLS# N4504645

INVEST TODAY!

9803 - 97th Street

LOCATION, LOCATION, LOCATION!

10004 - 94th Ave 2800 sq. ft. shop with ofďŹ ce/reception area.

1-10â&#x20AC;&#x2122; & 1-12â&#x20AC;&#x2122; door + mezzanine for storage. $549,900 MLS# N4504434

INVESTORS ALERT!

10016 - 106th Street

#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.

OFFICE/SHOP currently leased located at 1512-97th Ave. Total of 4880 sq ft with 3360 sq ft of ofďŹ ce area and 1520 sg ft shop, 2-14ft doors. Existing lease shows over an 11% return.

#9257: THE SOUTH PEACE UNITED CHURCH IS FOR SALE. OVER 11,000 SQ. FT. - Sanctuary, hall, kitchen, ofďŹ ces, and support services. Excellent corner location, zoned commercial, very good condition, ready for an ofďŹ 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 Hortonâ&#x20AC;&#x2122;s & The Brick.

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

L A N D #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.

Affordable living is offered to you in this excellent 1,159 sq. ft. 2 bedroom, 1 bath townhouse.

Prime south end unit overlooking green space. $148,000 - MLS# N204966

Currently Leased at $3,000/mo gross. 3200 sq. ft. building with 4 ofďŹ ces, 2 baths + 2 bay shop. $340,000 - MLS# N4504196

RELOCATE & EXPAND HERE!

HIGHWAY FRONTAGE

#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

6511 Wildmare Subdiv., Chetwynd

#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

9929 - Swanson Street 10.35 Acres, 12,500 sq. ft. l-1 Warehouse, 5-18' overhead doors, 1-10 ton & 2-5 ton crane, 55 x 80 overall ofďŹ ce bldg has 3 ofďŹ ces & 10 x 32 Atco trailer. $3,200,000 MLS# N4504450

10,000 sq. ft. with ofďŹ ce/drive through was bay.

8,000 sq. ft. leased until Nov/2011. 3.86 Acres. $900,000 MLSÂŽ# N4504479

#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

The Power Of Partnership!

SORRY, YOUR AD IS MISSING...

www.westerninvestor.com

COMMERCIAL REAL ESTATE, FRANCHISES & BUSINESS OPPORTUNITIES IN WESTERN CANADA

KATHY MILLERCURTIS ROBINSON PERSONAL REAL ESTATE CORPORATION

Remax Action Realty 1991 Inc.

kathy@bugkathymiller.com curtis@remaxaction.ca 250-785-5520 Toll Free : 1-888-785-5520

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

Recreational Real Estate HOT PROPERTIES B13

WESTERN INVESTOR MAY 2011 www.westerninvestor.com

RECREATION FEATURE Western Canada resorts face price-cut competition from Phoenix, Florida and Vegas

3FDSFBUJPO NPOFZ JT GMZJOH TPVUI FRANK O’BRIEN WESTERN INVESTOR ritish Columbia and Alberta resort markets wondering where the buyers have gone may check out the local airports. According to a recent survey, 31 per cent of Albertans and 28 per cent of British Columbians said they are interested in buying real estate in the United States.

The Leger Marketing survey, done for the Bank of Montreal (BMO) showed most buyers, not surprising, are interested in Florida, Nevada and Arizona, where prices are down as much as 50 per cent from the peak of five years ago.

“With the American economy and employment gaining strength, home sales should pick up and put a floor under soft prices,” said Sal Guatieri, senior economist at BMO. “We expect prices to rise over time as the overhang of unsold homes eases.”

Right now there are such huge discounts on Sunbelt real estate that it makes it tough for Canadian resort developers to compete.

Consultant Ozzie Jurock led an investor tour into Phoenix recently that included a bus tour of potential property. The tour sold out and Jurock is considering adding another.

“Canadians are the Chinese buyers here,” Jurock said. “You can buy real estate at 50 per cent of replacement cost and get the land thrown in free. This will not last forever.”

According to Jurock, Canadian buyers can find two-bedroom-bath condos in the best areas of Phoenix for US$80,000 and the similar units in “C”-class suburbs for US$30,000. It is com-

Photo: Phoenix Condomania

#

Downtown Phoenix: some condos sell for less than $90 per square foot, drawing recreational buyers south from B.C. and Alberta.

mon to see detached houses in better suburbs for from US$150,000 to US$300,000.

Condo prices at top B.C. or Alberta resorts sell from around $300,000 and detached chalets can easily run to more than $500,000, as a comparison. And it seems that U.S. prices will keep falling. The number of U.S. homes worth less than their outstanding mortgage is still rising, according to Zillow Inc. About 15.7 million U.S. homeowners had negative equity, also known as being underwater, at the end of the year, up from 13.9 million in the previous three months, the Seattle-based real estate information company said in a recent report.

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The total represented 27 per cent of mortgaged single-family homes, the highest in Zillow data dating to the first quarter of 2009.

Values will fall as much as 5 per cent this year, putting more homeowners underwater, before finding a floor as the economy improves, forecasted Stan Humphries, Zillow’s chief economist.

Analysts note that over the long term the U.S. greenback should strengthen as well, which would provide an opportunity for capital appreciation for Canadians who purchased U.S. property at a low price today with the dollars near par.

BMO also commented that it is willing to finance Canadians buying in the U.S. Mortgage

“You can buy real estate at 50 per cent of replacement cost and get the land thrown in free”

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specialist Laura Parsons urged Canadians to arrange a line of credit, but noted that BMO’s U.S. subsidiary Harris Private Bank of Chicago, which has branches in Arizona and Florida, could help Canadians with U.S. property mortgages.

The Royal Bank of Canada, with branches in Florida, is also working with Canadian buyers.

Jurock said any Canadian considering a U.S. purchase should go down and personally check out the property.

“The product is plentiful, but the tax and legal issues have to be sussed out and they do take some time,” he said.

Meanwhile, sales of U.S. vacation properties are holding steady, according to the U.S. National Association of Realtors (NAR).

NAR’s 2011 Investment and Vacation Home Buyers Survey shows vacation-home sales accounted for 10 per cent of transactions last year while the portion of investment sales was 17 per cent, both unchanged from 2009.

NAR chief economist Lawrence Yun noted that “a sizeable number of [vacation] buyers [36 per cent] made deals with all-cash.”

In all, 543,000 vacation properties sold last year in the U.S. Foreclosure or trustee sales accounted for 11 per cent of vacation-home sales, compared with 5 per cent of primary purchases. The vast majority of buyers were U.S. residents.

The median vacation-home price was $150,000 in 2010, down 11.2 per cent from 2009, while the median investment-home price was $94,000, 10.5 per cent below 2009.◆

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B14 Recreational Real Estate HOT PROPERTIES sss

www.westerninvestor.com MAY 2011WESTERN INVESTOR s

“The Source” for Oceanfront, Lakefront, Islands, Ranches, Resorts & Land in BC at:

www.landquest.com LandQuest Realty Corp SmithersÊqÊ i ÃÊ Ài LandQuest Realty Corp CourtenayÊqÊ ÕÀÌÊ i Ãi LandQuest Realty Corp NanaimoÊqÊ i> Ê Õ `Þ

LandQuest Realty Corp Cariboo – >ÀÃ Ê ÀÜ>À` LandQuest Realty Corp Williams LakeÊqÊ Ài``ÞÊ >À Ã LandQuest Realty Corp Fraser ValleyÊqÊ Ài``ÞÊ >À Ã

Èä{ ÈÈ{ ÇÈÎäÊUÊ£ nÈÈ xxn Ê­xÓÈή OCEANFRONT LIVING INDIAN ARM - N.VANCOUVER, BC

SERVICE STATION W/ CAMPGROUND & OTHER BUS. - DEEP CREEK, BC

UÊ £]nääÊõÊvÌÊÎÊL`À Ê i UÊ >À`Ü `Êv ÀÃÊÉÊ >À}iÊ ÌV i UÊ >À}iÊ`iV ÊÜÉÊ}Ài>ÌÊ Vi> ÊÛ iÜà UÊ £äÊ ÕÌiÃÊvÀ Ê ii«Ê ÛiÊ >À > UÊ > Ì>ÃÌ VÊv à }ÊEÊVÀ>LL }Ê UÊ V ÊÉÊ7>ÌiÀÊ>VViÃÃÊ Þ UÊ $719,000

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Ûi i ViÊ-Ì ÀiÊEÊ > «}À Õ ` UÊ Û }ʵÕ>ÀÌiÀÃÊEÊ>Ê }ÊV>L UÊ £]ÈääÊõÊvÌÊ vÊV iÀV > Êë>Vi UÊ " ÞÊ}>ÃÊÃÌ>Ì ÊLiv ÀiÊ+Õià i ]ÊÜ V Ê ÃÊ >««À Ý >Ìi ÞÊ£ääÊ °Ê ÃÌ°Êxä³ÊÞi>Àà UÊ 7Ê*, Ê$499,000Ê³Ê -/ÊÊ

TOWNSITE OF NAMU CENTRAL COAST BC

PRINCE RUPERT CAMPGROUND

DEVELOPMENT ACREAGE PRINCE RUPERT, BC

UÊ £ nÊ>VÀiÃÊ Ê ÛiÀÊ>Ê iÊ vÊ Vi> vÀ Ì UÊ V>Ìi`Ê Ê Ìâ Õ} Ê- Õ `Ê>ÌÊ ÕÀ iÊ > i UÊ ii`ÃÊ iÜÊi iÀ}ÞÊÌ Êº1 V ÊÌ iÊ6> Õi» UÊ i>ÕÌ vÕ Ê > i]Ê`ii«ÊÜ>ÌiÀÊ À>}i]ÊÌ LiÀ UÊ 7>Ài ÕÃiÃÊEÊ Õ iÀ ÕÃÊLÕ ` }à UÊ ` iÃÃÊ« Ãà L Ì ià UÊ $1,495,000

UÊ ££Ê>VÀiÊV> «}À Õ `ÊÜÉÊ > >}iÀÃÊ i UÊ ÃiÊÌ Ê ÊEÊ >à >ÊviÀÀ ià UÊ ÇÇÊÃiÀÛ Vi`ÊV> «Ã ÌiÃ]ÊÌi ÌÊ>Ài>à UÊ ££ÊÕ ÃiÀÛ Vi`Êà ÌiÃ]ÊÃ> Ê`Õ « UÊ 7>à À Ã]Êà ÜiÀÃÊEÊ >Õ `ÀÞ UÊ < i`Ê/ ÕÀ ÃÌÊ iÀV > UÊ $1,600,000

UÊ ÓnÊv >ÌÊ>VÀiÃÊ Ê9i Ü i>`Ê ÜÞÊ£È UÊ i` >ÌiÊ«À Ý ÌÞÊÌ Ê ÊEÊ >à >Ê iÀÀ ià UÊ ÃiÊÌ Ê6 >Ê,> UÊ £ ÊÌ Ê* ÀÌÊ vÊ*,ÊV Ì> iÀÊÌiÀ > UÊ < i`Ê «Ài i à ÛiÊ iÛi « i Ì UÊ * Ìi Ì > Êv ÀÊ `ÕÃÌÀ > ]ÊÀià `i Ì > ÊEÊ Ì ÕÀ ÃÌÊV iÀV > Ê $4,250,000

2ICH /SBORNE RICH LANDQUEST COM

2ICH /SBORNE RICH LANDQUEST COM

$ENIS $ORE DENIS LANDQUEST COM

#LIFFORD 3TONE CLIFFORD LANDQUEST COM

&REDDY -ARKS

RIVERFRONT VIEW PROPERTY QUESNEL / ALEXANDRIA, BC

WEST KOOTENAY ACREAGES

GRAVEL PIT ON CNR LINE EAST OF PRINCE GEORGE

RV PARK HOPE, BC

THE POINT DENMAN ISLAND

UÊ Ài>ÌÊ «« ÀÌÕ ÌÞÊÌ Ê Ü ÊÞ ÕÀÊ Ü Ê Õà iÃÃÊ UÊ } ÊÌÀ>vv VÊ>Ài> UÊ ÕÀÀi Ì ÞÊÕÃi`Ê>ÃÊ >`iÊ-Ì Ài UÊ ÊÌ Ì> Ê>Ài>Ê vÊ{°nÊ>VÀià UÊ È£ÎÊvÌÊ vÊ } Ü>ÞÊvÀ Ì>}i UÊ $215,000 &REDDY -ARKS

UÊ £äÊ>VÀiÃÊÜÉÊà > iÀÊV>L £äÊ ÊvÀ Ê i à \Ê$293,000 UÊ ÈnÊ>VÀiÃÊ `Ê}À ÜÌ \Ê- ÛiÀÌ \Ê$375,000 UÊ Î£°ÈÊ«À Û>ÌiÊ>VÀiÃÊ i>ÀÊ-> \Ê$229,000 UÊ Ó{°xÊ>VÀiÃÊ ÊÃÕL` Û Ã Ê« > Ê Ê i à ½Ã ÀÌ Ê- Ài\Ê$599,000 UÊÊxÎÊ>VÀiÃÊ- ÕÌ Ê vÊ ÀiÃÌ \Ê$189,900

UÊ VÌ ÛiÊ}À>Ûi Ê« Ì°Ê ,ÊV ÌÀ>VÌÃÊ Ê« >ViÊ UÊ ,ÊÊëÕÀÊ iÊÀ } ÌÊ Ì ÊÌ iÊ}À>Ûi Ê« ÌÊ UÊ ÓÎÓÊ>VÀiÃÊ Ê« Ãà L iÊÃÕL` Û Ã Ê UÊ - iÊ vÊÌ iÊ >À`iÃÌÊEÊLiÃÌÊ}À>Ûi Ê LiÌÜii Ê ` Ì ÊEÊ*À ViÊ,Õ«iÀÌ UÊ Ó Ê³Ê À>ÃiÀÊ, ÛiÀÊvÀ Ì>}iÊ ÊÈä¯Ê ÜÊL> °Ê Ài>ÌÊÀiVÊ>Ài>ÊÊ$750,000

UÊxnÊà ÌiÃʳÊV> « }Ê>Ài> UÊÓÊL`À Ê iÊÜ Ì Ê vv ViÉÃÌ Ài UÊ `ÊÜ>ÌiÀÊEÊÃi«Ì VÊÃÞÃÌi UÊ ÝÌÀ>Ê ÛiÃÌ i ÌÊL Õà UÊ{nÊà ÌiÃÊÃÕL` Û `i`Ê ÊÀi>`ÞÊÌ ÊÃi UÊ `Ê-> ÃÊÉÊ7 `> à UÊ $1,290,000

3A® Network Group

UÊ ià } iÀÊÛ iÞ>À`ÉÜ iÀÞÊ>VÀi>}iÊ­£{ÎÊ>V®Ê UÊ xÊ Ê >À}iÊÜ>ÌiÀvÀ ÌÊ>VÀi>}iÃÊ­xÊÌ Ê£xÊ>V®Ê UÊ 6iÀÞÊ«À Û>ÌiÊ UÊ -Õ Þ]ÊÜ>À Ê V>Ì Ê UÊ 1 `iÀ}À Õ `Ê« ÜiÀÊ UÊ -ÌÕ }ÊÛ iÜÃ]Ê Vi ÞÊÌÀii`Ê UÊ À Ê$375,000

3A® Network Group

,ARRY ,AING LARRY LANDQUEST COM

"RIAN (ARRIS BRIAN LANDQUEST COM

"RIAN (ARRIS BRIAN LANDQUEST COM

+URT .IELSEN KURT LANDQUEST COM

COMOX VALLEY CRANBERRY FARM

PRIVATE CARIBOO LAKEFRONT ON STALEY LAKE

GABRIOLA ISLAND OCEANFRONT TREASURE

GULF ISLAND OCEANFRONT PARADISE

EXECUTIVE TIMBER FRAME HOME, NELSON

UÊ*i>VivÕ ÊEÊ«À Û>ÌiÊ££Ê>VÀiÊ >à ÃÊ ÛiÀ ÃÊ -Ì> iÞÊ > i UÊ ÕÌiÃÊvÀ Ê V> ÊÃiÀÛ ViÊVi ÌiÀÃÊÊ UÊ/ iÊ ÌiÀ > iÃÊ>Ài>Ê ÃÊÜi Ê Ü Êv ÀÊ}Ài>ÌÊ ÀiVÊ «« ÀÌÕ Ì iÃÊEÊ>VÌ ÛiÊV Õ ÌÞÊÊ UÊ iiÀ]Ê ÃiÊEÊV Õ Ì iÃÃÊÜ>ÌiÀv Ü Ê>ÀiÊ Þ ÕÀÊ i>ÀiÃÌÊ i } L ÕÀÃtÊÊ$189,000

UÊ -«iVÌ>VÕ >ÀÊÓ]n{äÊõÊvÌÊ Vi> vÀ ÌÊ iÊ UÊ ÀV ÌiVÌÕÀ> Ê >ÃÌiÀ« iViÊ UÊ > `ÃV>«i`Ên°ÇÊ>VÀiÃÊ UÊ -ÌÕ }Ê£näÊ`i}ÀiiÊÛ iÜÃÊ UÊ ÕiÃÌÊV ÌÌ>}i]Ê>ÀÌ ÃÌÊÃÌÕ` ]Ê vv ViÉ }>À>}iÊ UÊ £xÊ ÃÊvÀ Ê6> V ÕÛiÀÊLÞÊÃi>« > iÊ UÊ $1,877,000

UÊ-«iVÌ>VÕ >ÀÊV Õ ÌÀÞÊiÃÌ>ÌiÊ Ê*i `iÀÊ Ã ° UÊ £äÓÊ>VÀiÃÊÜ Ì Ê¤Ê iÊ Vi> vÀ Ì UÊ À}i ÕÃÊLi>V ]Ê« `ÊEÊ£äÊ>VÀiÊ6 iÞ>À` UÊ ÎäÊ>VÀiÃÊ ÊVÀ «ÃÊEÊ«>ÃÌÕÀi UÊ >À ]Ê}ÕiÃÌÊV ÌÌ>}iÃ]Ê iÀ Ì>}iÊ i UÊ ii«ÊÜ>ÌiÀÊ` V ÊEÊ 1 Ê ", t UÊ $4,995,000

UÊx]äääÊõÊvÌÊVÕÃÌ ÊLÕ ÌÊ iÊÜÉÊÕ«}À>`ià UÊ > `ÃV>«i`Ê£°ÓxÊ>VÀiÊ ÌÊ ÊÌ iÊ °Êà Ài UÊ xÊLi`À Ã]Ê«À viÃà > Ê vv ViÊEÊÃÌÕ`Þ UÊ Ài>ÌÊÀ Ê`ià } ÊÜÉÊ «i Ê} ÕÀ iÌÊ ÌV i UÊ Õ ÊL>Ãi i ÌÊÜÉÊ}Þ ]ÊL`À ]ÊL>Ì ÊEÊ}> ià UÊ -i vÊV Ì> i`Ê`iÌ>V i`Ê}ÕiÃÌÊÃÕ Ìi UÊ 7i ÊLi ÜÊÀi« >Vi i ÌÊ>ÌÊ$1.1M

+URT .IELSEN KURT LANDQUEST COM

#ARSON $ORWARD CARSON LANDQUEST COM

$AVE #OCHLAN DAVE LANDQUEST COM

$AVE #OCHLAN DAVE LANDQUEST COM

,ARRY ,AING LARRY LANDQUEST COM

5-UNIT MOTEL BUILT TO LOCK-UP MANNING PARK, BC

1939 HERITAGE BOUTIQUE HOTEL POWELL RIVER, BC

LOVELY FAMILY OR EXECUTIVE HOME - NEAR 100 MILE HOUSE

RECREATIONAL WATERFRONT LOTS, BURNS LAKE - NORTHWEST BC

DEVELOPMENT PROPERTY IN VALEMOUNT, BC

UÊ ÕÌiÃÊvÀ Ê > }Ê*>À Ê> `Ê,ià ÀÌÊ UÊ À ÌÃÊ «i *À ViÌ Ê } Ü>Þ UÊ V Õ`iÃÊ{Ê iÊLi`ÊEÊ£ÊÌÜ ÊLi`ÊÕ Ìà UÊ -ÕÀÀ Õ `i`ÊLÞÊ*>Ã>ÞÌi Ê7 `iÀ iÃÃÊ Ài>ÊEÊ- > ii Ê, ÛiÀ UÊ ÃiÊÌ Ê ««iÀÊ Ì Ê iÊ «i ÃÊ Õ iÊÓ䣣 UÊ $199,000

UÊ £ Î Ê iÀ Ì>}iÊ ÕÌ µÕiÊ Ìi Ê UÊ ÊÀ Ã]Ê ii«iÀÃÊÀià `i Vi]ÊÀiÃÌ>ÕÀ> ÌÊ UÊ V>Ìi`Ê ÊÌ iÊ ÞÊ`ià } >Ìi`Ê >Ì > Ê iÀ Ì>}iÊ ÃÌÀ VÌÊ Ê7iÃÌiÀ Ê > >`> UÊ Ê«iÀviVÌÊ viÃÌÞ iÊ «« ÀÌÕ ÌÞÊ Ê iÊ vÊ ½ÃÊ v iÃÌÊV Õ Ì ià UÊ $549,000

UÊ >À}iÊ ÌV i ÊEÊv> ÞÊÀ Ê UÊ i>Ìi`Êv À }Ê Ê ÌV i UÊ À> `Ê`iV ÊÜ Ì Ê ÌÊÌÕLÊ UÊÓÊi ÌÀ> ViÃÊvÀ Ê`iV ÊÌ Ê ÌV i ÊEÊ ÃÌÀÊL`À UÊ >À}iÊLÃ ÌÊÜ Ì ÊiÝÌÀ>ÊL`À ÊEÊL>Ì À UÊ ÕL iÊV>ÀÊ}>À>}iÊ Ê>ÕÌ Ê` ÀÊ «i iÀ UÊ $419,900

UÊ ViÊ vÊnÊÜ>ÌiÀvÀ ÌÊ ÌÃÊ UÊ " Ê ÕÀ ÃÊ > iÊ ÊÌ iÊ > iÃÊ ÃÌÀ VÌÊ vÊ Ê UÊ ,> }iÊ Êà âiÃÊ vÊ£° nÊ>VÀiÃÊÌ Ê£ä°ÈÊ>VÀiÃÊ UÊ *À ViÃÊÀ> }iÊvÀ Ê$54,900 to $69,500 UÊ >ÌÊ>VViÃÃÊ Ê ÊÃiÀÛ Vià UÊ -ÕL ` Û Ã Ê ÃÊV « iÌi

UÊ ÓäxÊ "/Ê*"/ / Ê UÊ VÀi` L iÊ`iÛi « i ÌÊ «« ÀÌÕ ÌÞÊ UÊ xÇÊ>VÀiÊ«>ÀVi Ê Ê>ÊLi>ÕÌ vÕ Ê, V ÞÊ Õ Ì> ÊÌ Ü UÊ `i> Êv ÀÊÀiVÀi>Ì > ÉÀiÌ Ài i ÌÊLÕÞiÀà UÊ " ÞÊ>Ê iÊ ÕÀÊ`À ÛiÊvÀ Ê >ëiÀ]Ê LiÀÌ>Ê UÊ $1,395,000

*ASON :ROBACK *AMIE :ROBACK

*ASON :ROBACK *AMIE :ROBACK

(EATHER AND -IKE $ILLON HEATHERANDMIKE LANDQUEST COM

$ENIS $ORE DENIS LANDQUEST COM

3AM (ODSON SAM LANDQUEST COM

RECREATIONAL ACREAGE EHOLT, BC

ELKINS PT, GAMBIER ISLAND, BC 8.7 ACRES - HOWE SOUND

INDIAN ARM RECREATION PROPERTY - LEASEHOLD

LAKEFRONT LOTS, WHISKEY POINT - UPPER ARROW LAKE

60 TITLES ON SMALL FARM E. KOOTENAYS - FORT STEELE, BC

UÊ -ÕL ` Û `>L iÊ> `Ê«À Vi`ÊLi ÜÊ>ÃÃiÃÃi`Ê Û> Õi]Ê£ÈäÊ>VÀiÃÊ ÕÌiÃÊvÀ Ê iÜi Ê > iÊ UÊ > iÊ Ü Êv ÀÊ ÌÃÊÌÀ « ÞÊ,> L ÜÊ/À ÕÌ UÊ - `Ê ÌÌ iÊV>L ÊÜÉÊL>Ãi i ÌÊEÊ vÌÊ ii`ÃÊÞ ÕÀÊv à }ÊÌ ÕV UÊ Ài>ÌÊÛ iÜÃÊ> `ÊÞi>À À Õ `ÊVÀii UÊ Ê}Ài>ÌÊ ÛiÃÌ i ÌÊÊ$249,000

UÊ xää½Ê vÊ ÜÊL> ÊÜ>ÌiÀvÀ Ì UÊ - i ÌiÀi`Ê >ÞÊ­Ã >Ài`ÊÜÉÊ ÕÀÀ>À`Ê9>V ÌÊ

ÕL® UÊ ÃiÊÌ Ê ÀÃià iÊ >ÞÊEÊ Là à UÊ / LiÀÊÀiÛ°Ê Ê Ê }} }Ê>VÌ Û ÌÞÊ Ê£ää³ÊÞÀà UÊ 7>ÌiÀÊ>VViÃÃÊ Þ UÊ $649,000

UÊ ££äÊvÌÊ vÊ Vi> vÀ ÌÊÜÉÊ«À Û>ÌiÊ V UÊ ÇääÊõÊvÌÊ iÊÜÉÊvÕ Ê ÌV ÊEÊÎÊ« iViÊL>Ì UÊ {ÊÊ`iV ÃÊÉÊÃi«Ì VÊÃÞÃÌi UÊ *À «> iÊ}>ÃÊ ÊÃÌ ÛiÊEÊvÀ `}i UÊ 7>ÌiÀÊ>VViÃÃÊ Þ UÊ £xÊ ÕÌiÃÊÌ ÊÌ iÊ ii«Ê ÛiÊ >À > UÊ $199,000

UÊ 7>ÌiÀÊ>VViÃÃÊ > ivÀ ÌÊ ÌÃ°Ê iÜÊÀi > t UÊ Ài>ÌÊÀiVÀi>Ì > ÊL >Ì }Ê Ê> Ê vÊ ÊÊ UÊ `i> Êv ÀÊÜ> iL >À` }ÊEÊà } UÊ ÞÊÃÌÕ }Ê> « iÊÛ ÃÌ>ÃÊEÊi ` iÃÃÊ L>V V Õ ÌÀÞÊÌ ÊiÝ« Ài°Ê UÊ ÊÌ i iÊÌ ÊLÕ `°Ê- >À«Ê«À V }Ê UÊ À Ê$90,000

3AM (ODSON SAM LANDQUEST COM

#AMERON 3TONE CAMERON LANDQUEST COM

#AMERON 3TONE CAMERON LANDQUEST COM

-ATT #AMERON MATT LANDQUEST COM

UÊ Ç{Ê>VÀiÃÊ ÊÎxÊ Ê«À `ÕVÌ UÊ ÌÃÊ vÊÜ>ÌiÀ UÊ ÃiÊÌ ÊÌ Ü UÊ "Vi> Ê-«À>Þʺ »ÊµÕ Ì> UÊ $3.665M

UÊ f£Î]ÎääÊÉÊ Ì°Ê£Ó°È£Ê>VÀiÊ«À «iÀÌÞÊ UÊ `i> Ê V>Ì Êv ÀÊ«>À Ê `i Ã]Ê,6½ÃÊ À Ê Ã } iÊv> ÞÊ iÃÊ UÊ *À «iÀÌÞÊ>` >Vi ÌÊÌ Ê Ìi >ÞÊ, ÛiÀÊ UÊ " `iÀÊv>À Ê ÕÃiÊ Ê«À «iÀÌÞ]Ê «i Ê Ê «>ÃÌÕÀiÊ i`ÊÜ Ì ÊÌÀiiÃÊv ÀÊ«À Û>VÞ UÊ $798,000 -ATT #AMERON MATT LANDQUEST COM

WESTERN INVESTOR MAY 2011 www.westerninvestor.com

Lakefront Development Project Thomson Lake, SK

Recreational Real Estate HOT PROPERTIES B15 OKANAGAN INVESTMENT

OPPORTUNITY

Potential Lakeview development property.

Beautiful 77 site thriving RV Park in the Okanagan.

Meticulously maintained park.

2400 sq. foot residence.

Rare ďŹ nd in the valley.

Penticton BC Inquiries: invatech@shaw.ca

$2.3 mil.

SPROAT LAKE - STRATA-TITLED CAMPSITES- from $169,000 -

57 lakefront lots in two phases Planning approval received for Phase I

Lakeshore Campground on pristine Sproat Lake 26 level sites, underground services Steps to large sandy beach Private swimming area with waterslide Boat slip included with purchase

THE MAPLES ON SPROAT LAKE - from $399,000

$1,250,000

Servicing cost estimate of $21,000 per lot

-

24-unit strata-titled development Brand new vacation homes, 5 ďŹ&#x201A;oor plans Spacious, private decks, appliances included Beach, trails, boat slip, large dock All the beneďŹ ts of Sproat Lake without the cost!

Golf & heated pool nearby at Thomson Lake Regional Park 10 km S of historic Gravelbourg 190 km SW of Regina Vendor may carry financing Courtesy to agents

DAVE KOSZEGI REALTORÂŽ 250-331-0305 info@questhomes.ca www.QuestHomes.ca

of Nanaimo Each OfďŹ ce independently Owned and Operated business / pager 250.723.SOLD (7653) ofďŹ ce 250.751.1223 toll free 1.888.246.8695 email dave@midislandhomes.com web midislandhomes.com davekoszegi.com 723sold.com

7$/$6$ 9,//$*( &(175(

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PHASE 1 BUSINESS OPPORTUNITIES: Â&#x2021; Pub/Restaurant Â&#x2021; &RIIHH %DU Â&#x2021; Grocer/Deli Â&#x2021; %RXWLTXH 5HWDLO Â&#x2021; :LQH %HHU 6WRUH Â&#x2021; :HOOQHVV 2SHUDWRUV VXFK DV VSD RU PHGLFDO RIĂ&#x20AC;FHV

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

PROPERTY HIGHLIGHTS: Â&#x2021; 2FFXSDQF\ Â&#x2021; 6TXDUH IHHW RI FRPPHUFLDO VSDFH Â&#x2021; (DV\ DFFHVV IURP +Z\V DQG Â&#x2021; &HQWUDOO\ ORFDWHG LQ D UHVRUW VW\OH UHVLGHQWLDO FRPPXQLW\ ZLWK D WRWDO EXLOG RXW RI KRPHV

2IĹ&#x2026;FH PRQD#PFPUHDOHVWDWH FD ZZZ PFPUHDOHVWDWH FD

ZZZ 7DODVD/LYLQJ FRP

B16 Alberta

www.westerninvestor.com MAY 2011WESTERN INVESTOR

CAPITALIZE

ON EXPERIENCE BARCLAY STREET REAL ESTATE

FOR SALE

INVESTMENT OPPORTUNITIES FROM

INDUSTRIAL/FOOD PROCESSING FACILITY

FOR SALE

INDUSTRIAL/FOOD PROCESSING FACILITY

53,233 SQ. FT.

35,381 SQ. FT.

4211 13A Street SE, Calgary, Alberta

4043 Brandon Street SE, Calgary, Alberta

s #&)! REGISTERED s BLAST FREEZERS EXTENSIVE cooling storage, refrigerated processing area (64 ton) s 7ASTE WATER TREATMENT on-site s &ENCED YARD AND PARKING

s #&)! REGISTERED s #OOLING STORAGE REFRIGERATED processing area (140 ton) s 7ASTE WATER TREATMENT on-site s $IRECT INTERIOR CONNECTION TO VersaCold storage facility s &ENCED PARKING

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

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

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

galbright@barclaystreet.com

FOR SALE

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

3 STOREY APARTMENT BUILDING

SITE: Âą5,798 SQ. FT. PROPOSED RESTAURANT BUILDING FOR SALE ON 17TH AVENUE SW, CALGARY SITE: Âą4,933 SQ. FT. n TH !VENUE 37 #ALGARY !LBERTA

s 4WO STOREY RESTAURANT WITH BASEMENT AND ROOFTOP PATIO s 0ROMINENT CORNER LOCATION OF TH 3T AND TH !VE 37 s CARS DRIVE BY DAILY s 0RICE

FOR LAND AND $EVELOPMENT 0ERMIT pending release

TH 3TREET 37 #ALGARY !LBERTA

s &ULLY LEASED AND TENANTED s ONLY HALF BLOCK FROM VIBRANT TH !VENUE 37 s ONE BEDROOM SUITES

two-bedroom suite, s #LOSE 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

COMMERCIAL REAL ESTATE

SOLUTIONS

EARL ADELMAN

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

eadelman@barclaystreet.com

Office, Retail, Industrial

Land, Investment

SALES AND LEASING

SALES

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

Property Management

CALGARY OFFICE Â&#x192; Suite 200, 407 â&#x20AC;&#x201C; 8th Avenue SW Calgary, AB Â&#x192; T2P 1E5 Â&#x192; p: 403Â&#x192;290Â&#x192;0178 f: 403Â&#x192;262Â&#x192;1314 EDMONTON OFFICE Â&#x192; 202, 2520 Ellwood Drive Edmonton, AB Â&#x192; T6X 0A9 Â&#x192; p: 780Â&#x192;463Â&#x192;3332

WWW.BARCLAYSTREET.COM

Alberta B17

WESTERN INVESTOR MAY 2011 www.westerninvestor.com

LAWRENCE STEINKE

INVEST IN

Specializing in Apartment Sales Since 1975

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

FT. SASKATCHEWAN

FOR ONLY $375,000+GST

IF YOU HAVE SPECIFIC REAL ESTATE NEEDS, CALL US... WE CAN FIND THE PROPERTIES YOU NEED!

3

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.

2

1

6 CONDO WAREHOUSE BAYS AVAILABLE!

APARTMENTS FOR SALE IN EDMONTON

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

2,000 sq. ft. Main Floor & 500 sq. ft. Mezzanine.

Attractive 14' Overhead Door & Warehouse Sump.

Fully serviced lots with excellent highway exposure • 7 minutes north of downtown Fort McMurray • Direct access to Hwy 63 • Highway commercial zoning • Ready to build

COMMERCIAL / INDUSTRIAL FOR SALE

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

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

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

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

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

+1 780 420 1585 www.colliers.com Retail Investment Opportunity 16,164 SF RETAIL BLDG 542-24 St., Fort MacLeod, AB Fully leased to 5 tenants Fort Plaza NOI - $162,323

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

Accelerating success.

Multifamily Opportunity

Fort McMurray Opportunities

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

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

MOOSE CREEK HOTEL Edson, AB 9 rooms, bar with VLTs, lounge & liquor store

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

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

INDUSTRIAL BAYS FOR SALE OR LEASE

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

Ready December 1, 2010 Taiga Nova Eco Industrial Park

Greater Edm. Opp.

DAYS INN Grande Prairie, AB New hotel, 90 rooms, increasing $9,200,000

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

Jandip Deol

www.colliersmn.com\edmontonapartments

Hotels

10020 MacDONALD DRIVE

132,995 SF INDUSTRIAL FACILITY Sturgeon Ind. Pk., AB Sale or lease. 30,000 SF bays available. Abundant yard.

Future CN Rail Service. Flexible completion options.

$950,000

Perry Gereluk

Rod Connop

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

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

GRAVEL PITS Fort McMurray, AB SML 070029, SML 020038, SML 030011, SML 810079, SML 040002

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

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

ken.shebib@colliers.com

Land Opportunities RED DEER LAND

WABAMUN LAKE LANDS

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

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

Mark Swaenepoel

Rick Argue

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

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

B18 Alberta

www.westerninvestor.com MAY 2011 WESTERN INVESTOR

EDMONTON LAND

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

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.

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

For More Information Contact:

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

BOBCAT DEVELOPMENT 780-722-4156

• Commercial & Industrial Development Opportunities • Single Family Homes & New Apartments Required • 35 minutes to Edmonton and 60 Minutes to Red Deer For Details Contact: RONALD HOLLAND (780) 361-4404 Toll Free: 1-800-989-6899 Edm Dir: (780) 421-0953 rholland@wetaskiwin.ca

COMMERCIAL (RE/MAX Excellence)

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. - SOLD

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 zJoey’s Seafood Franchise - Edmonton - Call For Info

CALL NATHALIE LACROIX AT 780.243.7757 zSoup/Sandwich Business - Downtown Edm - $119,900 zBottle Depot Businesses - TWO locations in AB. Call For Info BOTTLE DEPOT BUYING & ORIENTATION - BOOK NOW! ***CERTAIN CONDITIONS APPLY***

CALL RAJAN NULLIAH 780.441.5419 zSouth Edm Indian Restaurant - Well Established - $200,000

CALL RAJ BHARDWAJ 780.983.4211

INVESTMENT zRed Deer Commercial Bldg - Fully leased. Downtown. - $1.1M zRetail Condos W/Tenants - In Spruce Grove - SOLD 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 - Choice of 3 Est Motels. Beach facing & close to Marina. Fantastic summer business. Priced at $1.7M, $2.2M and $2.635M

CALL RAJAN NULLIAH AT 780.441.5419

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

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

Edmonton’s Business & Investment Specialists

zSelf Storage Facility - 177 Units + 100 RV on 3.88 ac. - $2.1M zRetail Condos & Motel Land - Redwater, Alberta - Call For Info

CALL MIKI O’REE AT 780.200.6454

MULTI-FAMILY z15 Units - West Edmonton - $105,000 Per Door z40 Units - Condo Package - Call For Info z18 Units - Eastwood - $100,000 Per Door

CALL MIKI O’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

LAND z Premier Hotel Site - NE Edm. 1.18 Ac. HWY Exposure- $1.395M z Nisku Commercial Land - 5 Lots. Zoned CS - Call For Info z Nisku 1.1 Acres Land - Prime Location in Nisku - PENDING

CALL AYAZ OR SAM AT 780.641.1320

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 O’REE AT 780.200.6454

w w w.RemaxComm.ca

B19

WESTERN INVESTOR MAY 2011 www.westerninvestor.com

REGIONAL ROUNDUP Airport, railyards and aggressive highway expansion boost industrial real estate

$BMHBSZ¤T VQMJGU DAVE HUSDAL WESTERN INVESTOR or some Calgary airport commuters, the large signs announcing the permanent closure of Barlow Trail north of 48th Avenue North may seem like a sign of the apocalypse.

Photo: Qyd/Sandbox

Certainly they herald at least uncertainty – some would argue traffic chaos – in a city where residents value their mobility and freedom, and lack LRT airport access.

But they also signal progress. Barlow, the primary southern access road to Calgary International Airport, closed north of 48th Avenue on April 3 to make way for a longawaited infrastructure boost for Canada’s largest Prairie city.

That boost will come in the form of the country’s longest airport runway – a mammoth 14,000-foot north-south structure that will boost capacity at Calgary International, allowing it to handle increasing passenger and cargo loads well into the future.

The massive runway project – part of $2 billion being invested in the airport in the coming years – goes hand-in-hand with a passenger terminal expansion that will see 20 gates added to the existing terminal to accommodate growing international traffic.

After a recession-related dip in 2009, the airport posted record passenger and cargo totals in 2010. Cargo volume rebounded with an 8.1 per cent hike in 2010 alone.

And why wouldn’t it? Situated at the intersection of the Trans-Canada Highway and Western North America’s primary northsouth trade corridor (Alberta Highway 2/U.S. Interstate 15), Calgary’s status as a transportation and logistics centre continues to grow.

According to Calgary Economic Development, 40 per cent of the freight that is handled through Vancouver ports is ultimately

Photo: WAM Development

'

(ABOVE) Calgary Airport now boasts Canada’s largest runway, part of a $2 billion upgrade aimed at cargo traffic. (TOP RIGHT) WAM Development’s 1,100-acre Stonegate Landing will eventually hold 10 million square feet of industrial space near the Calgary Airport and major roads, including the Stoney Trail Ring Road.

estate investors? Experts say a growth market that should pick up steam in 2011.

The recession certainly hit Calgary. Jobs were lost. Housing prices tanked. Office towers emptied, and some major construction projects were halted. If you were an industrial landlord, you sharpened your pencil to keep good tenants and scrambled hard to find new ones while the absorption rate for new space went negative.

But 2010 clearly signalled a turnaround, and those numbers are reflected in an increased general demand for industrial properties, not only in the priciest northeast sector of the city around the bustling airport, but throughout Calgary.

While Canada’s largest commercial real estate firms disagree somewhat on the state of the Calgary market, all see it improving if you own industrial properties.

Here’s what DTZ Barnicke concluded as it *OWFTUPST What does all this mean for commercial real looked at 2010 in Calgary and where 2011 is

distributed through Calgary via rail, truck or air.

Calgary, after all, is within a 24-hour drive of 50 million people, most of them in the Western and Midwestern U.S. The city is also served by Canada’s two major railways – CP Rail is headquartered in the city, and CN is spending about $100 million on its new Calgary Logistics Park, which will feature roughly two million square feet of warehouse space on 680 acres.

It also has an ambitious airport authority that’s chasing business, from firms who land and unload cargo 24 hours a day (you can’t do that in Toronto), to parcel distributors such as UPS, which recently opened a new $30 million facility.

going: “Calgary’s industrial market has seen demand for space improve recently and seems to be gaining momentum. The vacancy rate decreased from 6.34 per cent at the beginning of [2010] to 5.11 per cent at year-end. The amount of sublease space on the market has also been reduced, currently totalling 14.2 per cent of all available space in the city. Net absorption for the year was positive at 2,020,888 square feet, while rental rates have stabilized.”

DTZ Barnicke noted Calgary has seen an increase in activity and demand for property for shops of 50,000 square feet and greater. As of year-end, it was tracking only 16 available options in the category. By contrast, in early 2009 there were as many as 30 options in the size range.

The competition for tenants has been stiff.

This dramatically affected rates, inducements and incentives in this category, with rates from recent transactions in the big-bay category running $1.20 to $2 per square foot less than those deals completed near the peak of the market.

In 2011, industrial real estate is looking stronger and more stable than in 2010. Rates are expected to climb because of the improved economic conditions. Higher rental rates along with substantially reduced construction costs will push new industrial development projects, DTZ Barnicke predicts.

Many of those will happen near the airport.

Please see New product page B20

"MCFSUB

Avison Young Real Estate Alberta Inc.

partnership. performance.

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

www.ayeinvest.com

INVESTOR READY! Private Investor looking to purchase Light Industrial / Commercial Properties or Buildings with Tenants in place.

Will consider any and all conditions.

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

Edmonton & Area - For Sale • Drayton Valley - 52 Room Motel (new 2005) - $3,800,000 • Sherwood Park - 19.57 Acres Zoned C5 - $600,000 / acre - Motivated!

• Mini Storage Investment - Located on 5.89 acres - $425,000 • Sherwood Park - Lakeland Drive - 2.42 Acres - $715,000 / acre • Developed Industrial Land - West Edmonton - $300,000 / acre • Class A Office for Sale or Lease up to 25,000 sq. ft.

- Downtown Fort Saskatchewan

www.scrcommercialrealty.com

Office • 780.417.5540 (Sherwood Park)

780.841.1496 or dannyf@live.ca

THE CITY

OF

CAMROSE

THE REGIONAL CENTRE OF 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

B20 Alberta

Val Toffoli

www.westerninvestor.com MAY 2011WESTERN INVESTOR

Selling Edmonton since 1987

/&8 130%6$5 from B19

One of the largest industrial subdivisions under development is StoneGate Landing, from WAM Development. It consists of 1,100 acres 4107 - 99th Street, Edm, AB T6E 3N4 of land suitable for industrial, retail, hotel and Email: vtoffoli@shaw.ca â&#x20AC;˘ www.valtoffoli.com office developments. Over time, it is expected MULTI-FAMILY APARTMENT BUILDINGS: to be home to roughly 10 million square feet of â&#x20AC;˘ 7 Stes in West Central; 6% Cap Rate. Very Clean & industrial space. Its location next to the airport Well Maintained with Great tenant Profile. and surrounding major roads (the QE2 and the â&#x20AC;˘ 12 ste with 80% financing available! Ctl â&#x20AC;&#x201C; Near Stoney Trail Ring Road) make it particularly downtown, College, Hospital, new proposed Stadium attractive. Itâ&#x20AC;&#x2122;s also close to the CN logistics & LRT â&#x20AC;&#x201C; Good size stes. Great Curb Appeal park that will complete in 2013. â&#x20AC;˘ 15 Condo Units â&#x20AC;&#x201C; 13-1bdrm & 12-2 bdrm units.

StoneGate Landingâ&#x20AC;&#x2122;s next building offers Ctl near downtown & college. REDUCED & open to reasonable offers. more than 430,000 square feet of warehouse â&#x20AC;˘ 18 Stes (12-2 Bdrm, 5-1 Bdrm, 1 Bach) Extensive space in 20,000-square-foot bays just west of upgrading in & out (roof/windows/landscaping/ Deerfoot Trail. fencing). Hi Ratio financing available. East Ctl Oxford Properties Group recently announced the development of a major Medical/Professional Space for Lease industrial park in the area, starting with the construction of two buildings consisting of approximately 600,000 square feet. Hopewell Development Corp. is also going ahead with the construction of 148,280 square feet in its Phase II of Hopewell Airport Park.

Avison Young also sees growth ahead for Calgary in 2011.

115 Haddow Close NW, Edmonton, AB â&#x20AC;&#x153;Positive momentum continues to grow withPrestigious Riverbend/Terwillger Location! in the Calgary industrial market. Signals, such 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 as larger longer-term deals, a reduction in unocexposure! 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. cupied, recently completed space and an over$28 per sq. ft. plus $15.50 operating costs utilities & janitorial not included. all increase in demand have been witnessed,â&#x20AC;?

Please Call Michele Warwa-Handel Avison Young stated in a recent survey.

780-464-7700 The commercial real estate giant went on to REALTY EXECUTIVES DEVONSHIRE (THE PARK) say: â&#x20AC;&#x153;While overall demand remains lower than

Phone: 780-707-9395

REALTY EXECUTIVES POLARIS

peak levels of the last cycle, activity levels rose steadily during 2010 and in Q1, 2011. Rental rates are stabilizing and have increased modestly in certain product types around the city.

This trend has convinced several developers to bring new product to the market.â&#x20AC;?

Colliers International is also feeling good about Calgary. â&#x20AC;&#x153;Looking forward to the leasing market in 2011, the overall trend of decreasing vacancy from 2010 is expected to continue. The high amount of absorption is a strong indicator of healthy demand in the market, which will continue to consume vacant product,â&#x20AC;? Colliers predicted.

Just how new Calgary development shakes out may depend on the cityâ&#x20AC;&#x2122;s infrastructure challenges and successes, not just in the airport area, but elsewhere.

While commuters, nearby businesses and trucking firms will feel the closure of the section of Barlow Trail in the short term, its longterm consequences remain a question mark.

The city has agreed â&#x20AC;&#x201C; subject to successful negotiations with the airport authority â&#x20AC;&#x201C; to construct a tunnel under the new runway to better connect the airport with points east and south via an extended Airport Trail.

But the $295 million project had no final deal as of the end of March, and was being criticized by everyone from civic critics to sitting Calgary MPs. A key transportation link that will pull traffic away from congested Deerfoot Trail, the cityâ&#x20AC;&#x2122;s north-south freeway (and occasional parking

2VJDL GBDUT Airdrie

â&#x2014;?

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$BMHBSZ " # Population 1,071,600 2010 building permits $2.92 billion Unemployment 6.1 per cent Industrial vacancy rate 5.2 per cent Industrial leasing rates (less than 10,000 square feet) $9.91 to $10.18 per square foot; (over 50,000 square feet) $4.40 to $6.89 per square foot Industrial land supply 13,375 acres Serviced industrial land price per acre $800,000 (northeast/airport); $575,000 (southeast)

lot), remains in progress.

Roughly 25 kilometres of southeast Calgary Ring Road will open in the fall of 2013, when the true impact of the improvements will be seen.â&#x2014;&#x2020;

www.realtyforyou.ca

Each office is independently owned and operated.

HINTON, ALBERTA MOTEL FOR SALE D

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

PAGE REGAN

ROB REGAN

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

780-490-9324 ar_ar@shaw.ca

R

s 20 minutes East of Jasper Park Gates s UNIT MOTEL ALONG MAJOR HIGHWAY s ,OCATED ON COMMERCIAL LOTS s 2ENOVATE OR REBUILD WITH TOWN APPROVAL

197 ACRE SUB-DIVISION FOR SALE

$950,000 #ALL Colleen Bowes 780.865.1200 or

780.865.0768

cwbowes@shaw.ca

2% -!8 REALTY (INTON

GOLDEN OPPORTUNITIES IN CENTRAL ALBERTA UĂ&#x160;Ă&#x160;Mobile Home ParkĂ&#x160;Ă&#x153;Â&#x2C6;Ă&#x152;Â&#x2026;Ă&#x160;näĂ&#x160;iÂ&#x2DC;}Â&#x2C6;Â&#x2021; Â&#x2DC;iiĂ&#x20AC;Ă&#x160;`iĂ&#x192;Â&#x2C6;}Â&#x2DC;i`Ă&#x160;Â?Â&#x153;Ă&#x152;Ă&#x192;Ă&#x160;Â&#x2021;Ă&#x160;$3,500,000 UĂ&#x160;Ă&#x160; Ă&#x160;Lake HomeĂ&#x160;Â?Â&#x2C6;Â&#x17D;iĂ&#x160;Â&#x2DC;Â&#x153;Ă&#x160;Â&#x153;Ă&#x152;Â&#x2026;iĂ&#x20AC;Ă&#x160;Â&#x2DC;iĂ&#x192;Ă&#x152;Â?i`Ă&#x160; Â&#x153;Â&#x2DC;Ă&#x160; Ă&#x2022;Ă&#x20AC;Â&#x2DC;Ă&#x192;Ă&#x152;Â&#x2C6;VÂ&#x17D;Ă&#x160; >Â&#x17D;iĂ&#x160;Â&#x2021;Ă&#x160;$1,650,000 UĂ&#x160;Ă&#x160;Residential LotsĂ&#x160;Ă&#x20AC;i>`Ă&#x17E;Ă&#x160;Ă&#x152;Â&#x153;Ă&#x160;LĂ&#x2022;Â&#x2C6;Â?`Ă&#x160;Â&#x153;Â&#x2DC;Ă&#x160; qĂ&#x160;Ă&#x192;Ă&#x152;>Ă&#x20AC;Ă&#x152;Â&#x2C6;Â&#x2DC;}Ă&#x160;>Ă&#x152;Ă&#x160;$87,000

Call CARL STEPP cell: 403-358-9300 www.sylvanlakehouseguy.com

RE/MAX real estate central alberta

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Each office is independently owned and operated.

Alberta B21

WESTERN INVESTOR MAY 2011 www.westerninvestor.com

Each office is independently owned and operated.

REVENUE OPPORTUNITIES

INVESTMENTS CALGARY AREA U 64 seat restaurant in fast growing community north of Calgary, price includes land, building & equipment

4-PLEX

UĂ&#x160;Trailer Park 12 unit, plus 7 residential lots â&#x20AC;&#x201C; excellent cash flow

IN COLD LAKE PRICE $525,000 FULLY OCCUPIED

UĂ&#x160; AIRDRIE â&#x20AC;&#x201C; 5000 sq.ft. industrial bay for sale with makeup air unit & inferred heaters UĂ&#x160; 2500 sq. ft. industrial bay for lease UĂ&#x160; 137 acres industrial land annexed into Crossfield, services close by, ready to be developed â&#x20AC;&#x201C; excellent potential UĂ&#x160; 141 acres annexed into Crossfield, excellent potential UĂ&#x160; 132 acres highway #2 frontage, 20 minutes north of Calgary â&#x20AC;&#x201C; call today

GREAT LOCATION/REVENUE 1.1 ACRE PAVED LOT. 16,800 SQ.FT. INCLUDING 2,000 SQ.FT. MEZ/OFFICE.

LAND & BUILDING ONLY

$1,175,000

UĂ&#x160; 279 acres located next to Crossfield â&#x20AC;&#x201C; possible development possibilities C/S

FULLY OCCUPIED PRICE $519,000

Call Leo Zelinski at 780-778-1207

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

Cold Lake, AB

$959,900

Elegant Lakefront Bed & Breakfast

UĂ&#x160; 137 acres with #2 highway frontage â&#x20AC;&#x201C; excellent access

Everything from custom cabinets to custom bathrooms using the ďŹ nest of materials and workmanship. For a total of 9 bedrooms, 8 bathrooms, with extensive decks and balconies. Sold with most furnishings, all kitchen major appliances, business sign and arbour.

UĂ&#x160; East Balzac â&#x20AC;&#x201C; NE of Calgary â&#x20AC;&#x201C; 151 acres, 1250 sq.ft. bungalow, 40â&#x20AC;&#x2122; x 80â&#x20AC;&#x2122; Quonset UĂ&#x160; BEISEKER â&#x20AC;&#x201C; 2.73 acres industrial land, fenced & graveled, presently used for storage

UĂ&#x160; 151 acres e a s t o f A i r d r i e â&#x20AC;&#x201C; PRICED TO SELL

ELAINE CROSS 780-815-0540 RE/MAX Cold Lake 2000 www.ElaineCross.com elaine@coldlakerealestate.net

Attention

UĂ&#x160; Goalie Equipment & Development Business For Sale

UĂ&#x160; SOLD CROSSFIELD â&#x20AC;&#x201C; 22 room motel, great location, excellent condition C/S For more information on these and other properties

RE/MAX Cold Lake 2000

PENDING RESIDENTIAL !#2%3

Near marina with endless opportunities.

UĂ&#x160; SOLD 809 sq. ft. Office / Retail space for sale, large lot

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.

36 ACRES PARTIAL SERVICED LAND !PPRAISED AT

$ISCOUNT TO $7.7Mil.

UĂ&#x160; ž acre industrial land for lease

UĂ&#x160; 320 acres excellent farmland â&#x20AC;&#x201C; 20 mins N of Calgary

4-PLEX

WHITECOURT, AB JUDICIAL SALES s 74 ROOM FULL SERVICE MOTEL "ANQUET ROOMS ,OUNGE NITE CLUB RESTAURANT STILL OPERATING

0REVIOUS SALE $4.3 Mil. s 4.4 ACRE HIGHWAY COMMERCIAL "EST 7ESTERN SITE !PPRAISED $1,430,000 NOW LISTED AT $925,000

call

DON SACKETT RE/MAX ACA REALTY

(403) 946-5657 ACA Realty

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

Agents: REACH QUALIFIED BUYERS FOR YOUR LISTINGS

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

Each office is independently owned and operated.

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B22 Alberta

www.westerninvestor.com MAY 2011WESTERN INVESTOR

INVESTMENT PROPERTIES FOR SALE! 12 UNIT WALKUP, central Edmonton, 6 ones, 6 twos, beautifully renovated and retro $1,392,000 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 38 UNITS IN RED DEER, 4 storey with elevator, 24 ones, 14 twos, upgraded premium property in best rental area near Hospital and College â&#x20AC;&#x201C; serious inquiries only please- $3,990,000 13,231 SF, 5 BAY RETAIL STRIP MALLin Leduc, AB. with good long term tenants. 9 years old. NOI over $161,000 per annum. 7 cap at $2,180,000.

1.45 ACRE INDUSTRIAL IN NISKU, AB close to Edmonton Intl. Airport. 3,900 sf newer warehouse with 18â&#x20AC;&#x2122; grade door. Fenced and graveled. FOR LEASE 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.

Fully qualified buyers. Call now for your complimentary evaluation and allow my 21 years of banking and 13 years of commercial real estate experience to assist you!

RICK D. JENKINS 780-990-6120 cell

POLARIS REALTY

Email: rdjri@telus.net Commercial Realtor

Pam Gill

(780) 455-4088

www.apartmentsinedmonton.com

EDMONTON APARTMENT PROPERTIES 6 SUITES, Cromdale ..................................................$575,000 6 SUITES, NAIT 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

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

For further info contact: Lorne Ryz

1-888-229-0007 or 403-862-6465 c â&#x20AC;˘ 403-775-4343 f lorne@beauxproperties.com

CENTRAL ALBERTA

Commercial, Industrial & Residential Financing

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

or call

403-346-6655

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!

Obtaining Mortgages and Loans can be made Easy & Simple!

Contact: Frank Hickey

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

Dream Business

Clinton Alexander â&#x20AC;˘ Sterling Real Estate â&#x20AC;˘ 780.914.4807 www.clintonalexander.com â&#x20AC;˘ clintonalexander@shaw.ca

INDUSTRIAL SPACE - For Sale or Lease FORT MCMURRAY - Taiga Nova Industrial Park

13,000 to 52,000 sq. ft. - Fall of 2011 â&#x20AC;˘ 4.44 Acre Site â&#x20AC;˘ Lease or Purchase Options â&#x20AC;˘ Experienced Developer & General Contractor â&#x20AC;˘ LARGE Rear Yard!

$BMM .JLF (FPSHF PS #JMM 4DIPFNBLFS

â&#x20AC;˘ 30' High Buildings

www.property-solutions.ca

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

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Single and multi-family residential developments

t

Commercial, industrial and retail developments

t

Refinancing / acquisitions

t

Construction / land servicing

t

Bridge loans

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Income producing properties

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.

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; '-"((&% 300.4 XJUI B IJHI QSPžMF MPDBUJPO JO B WFSZ WJCSBOU DJUZ " SFDFOUMZ SFOPWBUFE VQTDBMF SFTUBVSBOU BOE MPVOHF JT MFBTFE 7FSZ XFMM NBJOUBJOFE FYUFOTJWFMZ SFOPWBUFE UISPVHIPVU JODMVEJOH UIFNF SPPNT CSJEBM TVJUFT CBORVFU GBDJMJUJFT EBUB QPSUT BOE XJSFMFTT JOUFSOFU 0XOFS PQFSBUFT UIF CVTZ BOE IJHIMZ QSPžUBCMF TQPSUT MPVOHF PO TJUF %FQFOEBCMF DBTI ÂżPX XJUI B QPTJUJWFMZ USFOEJOH IJTUPSZ XJUI B HSFBU EFBM PG VQTJEF 5IJT QSPQFSUZ TUBOET PVU BOE XJMM žOE BO JOWFTUPS JO TIPSU PSEFS "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

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

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 â&#x20AC;˘Asking: $5.99M 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 HOTEL WITH RESTAURANT & LOUNGE â&#x20AC;˘Asking: $4.99M â&#x20AC;˘Located in very busy Oil, Gas, Forest & Tourism in AB â&#x20AC;˘62 Rooms, 100 seat Restaurant, 110 seat Lounge, 9 VLT's 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 re-development 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 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.

RV SALES PROPERTY â&#x20AC;˘Asking: $1.45M â&#x20AC;˘Triple Net: $108,000, 5 year and 5 year option â&#x20AC;˘4.23 Acres of Hwy commercial land with 7200 sq ft building â&#x20AC;˘Located surrounding development area in central AB

MAXWELL

SOUTH STAR REALTY â&#x20AC;˘ www.leechoonho.com FRANCIS LEE, Associate Broker IC & I Full Commercial Member â&#x20AC;˘ Manager Business & Investment Div

For More Details

Tel: 403-253-5678

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

Alberta B23

WESTERN INVESTOR MAY 2011 www.westerninvestor.com

.

CURRENT OFFERINGS

VISIT OUR WEBSITE AT: www.calgaryland.net

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 $9,000,000.

$"-("3: "3&" %&7&-01.&/5 -"/%4 ROCKY VIEW 160 Acres on County Hills Boulevard $5.6 Million EAST CALGARY - 17TH AVE SE 160 Acres near Stoney Trail $23.2 Million LGA Y - 84 St. NE EAST CALGARY 160 Acres ne ar Sto ney Trail near Stoney $32 M illion Million EAST CALGARY - 17 Ave SE 13.52 Acres Stoney Trail Frontage $6.08 Million EAST CALGARY - 17 Ave SE 98 Acres near Stoney Trail $15.6 Million EAST CALGARY COUNTRY HILLS BLVD 66 Acres Stoney Trail Frontage $6 Million CHESTERMERE - SIERRA VISTA Single & Multi Family, Retail, Golf Course, Area Structure Plan.

5-7 Units Per Acre 53 Acres - $6.9 Million 88 Acres - $11.5 Million 140 Acres - $18.2 Million 160 Acres - $20.7 Million

â&#x20AC;˘ A Superb 103 Room Limited Service Hotel featuring a number of unique features, no differed maintenance, plus excellent curb appeal and exposure, well located in a region of tremendous economic diversity that should provide a signiďŹ cant degree of operational upside going forward. Asking $13,000,000. 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;˘ 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 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;˘ 8800 sqft Sublease ofďŹ ce - HighďŹ eld - Calgary â&#x20AC;˘ Alberta Multi-family buildings - 6 to 1500+ units â&#x20AC;˘ Restaurant & Bar - High River Alberta - $2.7M â&#x20AC;˘ Former School for lease 27,000 sqft S.E. Calgary â&#x20AC;˘ Live/Work in Inglewood - Newer Condo $394,000 â&#x20AC;˘ 33 Unit apartment building condo title - $3,465,000 â&#x20AC;˘ Beltline character ofďŹ ce & retail space Calgary â&#x20AC;˘ ProďŹ table European Deli & Bakery - Calgary - $198,000 â&#x20AC;˘ 5625 sqft Industrial Building on 4 Acres - Langdon $1,500,000 â&#x20AC;˘ 2 storey commercial building, 16th Avenue North Calgary $995,000 â&#x20AC;˘ Prime Beltline Development Site Construction Underway $7,775,000 â&#x20AC;˘ Price reduced 300 Acres just NE of Calgary was $14,500,000 Now $7,500,000 Trades considered â&#x20AC;˘ Franchise Restaurants - Chicago Deep Dish Pizza - WOK BOX $209,000 - $209,000

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

SHERWOOD PARK, ALBERTA SPACE for LEASE /Fl CE 3HOW 2OOM 7AREHOUSE

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;˘ 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 of $330,900 more or less, at the asking price of $499,000.

KEVIN MOORE (403) 617-2846

s TOTAL SQ FT AVAILABLE AND OR SQ FT BAYS s ACRES OF YARD SPACE FULLY FENCED s "RAND NEW l RST CLASS BUILDING Call Bob direct for further information at

780-975-4100

XXX DBMHBSZMBOE OFU

Bob MacMillan 780-975-4100 (cell)

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

RE/MAX Advantage Sherwood Park, AB

Scott MacMillan 780-975-1234

DISTRESSED ARIZONA OPPORTUNITIES

75th Ave

I-10

Sun Valley Pkwy

Bell Rd

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

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

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

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

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

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

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

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

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

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

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

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

SUN VALLEY PKWY - BUCKEYE Âą5 ACRES COMMERCIAL OVERLAY PARKWAY FRONTAGE

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

411th

Ave

STEARMAN - CHANDLER NEW INDUSTRIAL FACILITY CHANDLER AIRPARK LENDER OWNED

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

KENT D. BAKER " !

(480) 968-3033 Direct

(602) 316-8136 Mobile ! ! kbaker@thebenjamingroup.com # ! "

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

B24 Alberta

www.westerninvestor.com MAY 2011 WESTERN INVESTOR

ALBERTA IS AGAIN MOVING! MOTELS & HOTELS

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

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

≥ CAMROSE ALBERTA 68 room, full services Hotel.

REDUCED - NOW $5M. ≥ FULL SERVICES 63 Unit Motel with Restaurant,

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

OTHER INVESTMENTS

≥ DAYSLAND Convenience store and Gas Bar., ≥

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

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

100+ Site

MOBILE HOME & R.V. PARK (Collapsed Sale – Back on Market)

In booming community of Swift Current, showing a net return in excess of 10%+. Appraisal & Phase 1 completed in December, 2010.

All City services. Highway frontage of approximately 850 lineal ft. to Trans Canada Highway, with full egress access road, and directly across from new mall & casino.

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

Price Reduced to: $1.6 Million (Previously $1.8 Million)

Mt. Sentinel Realty Ltd. W. Tymofievich (Water T.)

928-726-9638

mt.sentinel@shaw.ca

www.cwedm.com

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

780-420-1177

investment@cwedm.com

MULTI-FAMILY OPPORTUNITIES •14 units; twelve 2-bdms, northeast; new roof and windows •Judicial listing; 25 unit condo bldg.; 75% complete; excess land to dev.

•3.83 acres prime dev. land in Windermere, SW Edmonton •Highrise site on Jasper Ave; 15,000 s.f. across from River Valley; improved with 2 apt. bldgs. (17 units) •Highrise site in Rutherford; 1.02 acres zoned for 105 units in dynamic area •Stony Plain development site; zoned apt. & attached homes •High density dev. sites & apt. opportunities in Wetaskiwin •Country Residential Development Site; 150 acres; near Alberta Beach/Lac St. Anne Apartment product is in demand! Please call for our opinion of value of your building!

CHRISTOPHER KAMPHIUS or RAPHAEL YAU multifamily@cwedm.com

COMMERCIAL CONDOS •3,000 – 9,000 sq. ft.; located at intersection of Fort Road, Wayne Gretsky Drive & 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

INVESTMENT SALES

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

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

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

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 • 20.64 acres development land • Residential & Highway commercial

CONTACT JEFF McCAMMON OR RAPHAEL YAU

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

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

FULLY LEASED OFFICE BUILDING INVESTMENT • Leased to very large multinational construction company • Net lease at a 7.30% cap • Asking $8,290,000 CONTACT JOHN CROFT

john.croft@cwedm.com

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

CONTACT RAPHAEL YAU OR DOUG RAE

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

14,707 SQ. FT. SHOWCASE WAREHOUSE • 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 • 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 • 36,400 sq. ft. site which includes a 14,500 sq. ft. building

CONTACT DOUG RAE OR BRETT KILLIPS

Alberta/Saskatchewan B25

WESTERN INVESTOR MAY 2011 www.westerninvestor.com

VOJRVF QSPQFSUZ Advertise your listings in our special

)05 1301&35*&4 feature.

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.

Reach potential buyers with money to spend.

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

Recreational Real Estate ADVERTISING FEATURE:

â&#x20AC;˘ Limited spaces â&#x20AC;˘ 4-colour ads â&#x20AC;˘ Special rates

604-669-8500 â&#x20AC;˘ 1-800-661-6988 advertise@westerninvestor.com

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.

HALABURA FARM 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.

â&#x20AC;˘ Two 4- Suite walk-up buildings â&#x20AC;˘ Six - 3 bedroom â&#x20AC;˘ Two - 2 bedroom â&#x20AC;˘ Some suites recently renovated â&#x20AC;˘ Asking $649,800

For more info contact:

DON REDDICK

(306) 359-9799

SASKATOON APARTMENTS

Former Co-op Building Building Area: .......... 7998 Sq. Ft. Lot Size:......................0.69 Acres Price: ............. $675,000 $399,000

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

8Vaa

Lance Frazier

(%+#.()#(&*&

Broker lance.frazier@dtzbarnicke.com

lll#YZaeZiZghgZVain#Xdb

Direct Tel: 780.421.1489

&9*45*/(

1035'0-*0 4"4,"500/ 4,

CALL NOW 1-800-661-6988

JOEJWJEVBM SFTJEFODFT JO 4BTLBUPPO $"1 3BUF PG -PUT PG (SPXUI QPUFOUJBM 6OEFS .JM 30:"- -&1"(& 4"4,"5$)&8"/ OE "WFOVF 4BTLBUPPO 4,

1) '"9 QNDOFJM!SPZBMMFQBHF DB

www.westerninvestor.com

STEWART FARM 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.

BURKE LAKE 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

Multi-Family For Sale Yorkton, SK

Drastic Price Reduction FOR SALE VALLEYVIEW, AB

Subscribe

Do you have a

REDBIRD LAND

Tim Hammond, BSA, P. Ag. Owner - Broker www.TimHammond.ca

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

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.

Industrial Leasing Opportunity

OfďŹ ce Leasing Opportunity

OfďŹ ce Leasing Opportunity

â&#x20AC;˘ 25,650 sq. ft. industrial building in Regina â&#x20AC;˘ Complete building or can accommodate three tenants of approximately 8,550 sq. ft. â&#x20AC;˘ Dock and grade loading â&#x20AC;˘ Lease rates starting at $11.00 per sq. ft.

â&#x20AC;˘ 80,000 sq. ft. four storey ofďŹ ce building to be constructed in Regina â&#x20AC;˘ Located at the corner of 11th Ave & Albert St. in downtown Regina â&#x20AC;˘ Underground parking available â&#x20AC;˘ Lease rates starting at $23.00 per sq. ft.

â&#x20AC;˘ Four buildings of approx. 40,000 sq. ft. each to be constructed in Harbour Landing which is minutes from the Regina Airport and the new Global Transportation Hub â&#x20AC;˘ Lease rates starting from $25.00 per sq. ft.

For more info contact:

For more info contact:

For more info contact:

DALE GRIESSER OR SHERRY COMTE

DALE GRIESSER OR SHERRY COMTE

DALE GRIESSER OR SHERRY COMTE

(306) 359-9799

(306) 359-9799

(306) 359-9799

Avison Young Commercial Real Estate (Sask) Inc. Phone: (306) 359-9799 www.avisonyoung.com

B26 Saskatchewan

INVESTMENT OPPORTUNITY 4815 50th Street, Lloydminster, SK Saskatchewan Centre Recently renewed Government Tenant Land Size: 23,522 sq. ft. Building Size: 27,415 sq. ft.

Sale Price: $4.5 million Contact: Phill Elenko

MULTI-USE BUILDING AND GROUNDS Corman Park, SK Land Size: 3.87 acres Building Size: 12,223 sq. ft.

Sale Price: $1,350,000.00 Contact: Barry Stuart and Kelly Macsymic

ICR Commercial Real Estate icrsaskatoon.com ME

www.westerninvestor.com MAY 2011WESTERN INVESTOR

LEASE OPPORTUNITY – NEW OFFICE 15 23rd Street East, Saskatoon, SK Available for lease: ±24,802 sq. ft.

Lease rate: $26 psf (multi-tenants), $24 (single-tenants) Contact: Tusia Black and David Kerr

Downtown office: 306.664.6116

MATRIX BUSINESS PARK – PHASE II 3703 Millar Avenue, Saskatoon, SK Quality industrial, major thorough fair Available for lease: 64,000 sq. ft.

Units sizes: 5,250 sq. ft. – 64,000 sq. ft Lease rates: $12.00 – 12.50 psf Contact: Jayson Elenko

North office: 306.933.2929

“Saskatchewan’s largest commercial real estate company”

NT

Commercial Real Estate Services, Worldwide.

The company now known as NAI Commercial Real Estate has been in operation for over 30 years. Based in Regina, we are the largest commercial real estate firm serving southern Saskatchewan. Our professionals have strong ties to the community in all aspects of commercial real estate, including industrial, office, retail, business brokerage, multi-family, and land development.

We are linked with NAI Commercial across Canada with offices in: British Columbia, Alberta, Saskatchewan, Ontario, Quebec, and Nova Scotia.

NAI Commercial is connected with NAI Global with 5,000 professionals, 325 offices in 55 countries around the world.

Paul Mehlsen

Jim Kambeitz

Greg Belof

Candace Driediger

Cheryl Fischer

Danny Greene

Gavin Koyl

Linely Schaefer

Micky Schmitz

Jim Thompson

Brian Tiefenbach

Erik Mehlsen

Commercial Real Estate (Sask) Ltd.

120 - 1230 Blackfoot Drive Regina, SK S4S 7G4 Phone: 306-525-3344 Fax: 306-565-8131 www.naisask.com

B27

WESTERN INVESTOR MAY 2011 www.westerninvestor.com

REGIONAL ROUNDUP Developers play catch up as once-sleepy capital rides wave of provincial prosperity

3FHJOB¤T QMFBTBOU QSPCMFNT WESTERN INVESTOR

Photo: Regina Regional Opportunities Commission

With no signs of the resources boom subsiding in Saskatchewan, one of the few barriers to the provincial capital’s continued growth is its ability to develop real estate at a brisk enough pace to accommodate the boom.

Existing local businesses are looking to expand or upgrade their space, while new businesses and new workers continuously arrive in the city to partake in the prosperity.

Developers are playing catch up, caught off guard by the province’s fortuitous economic upturn and the resulting demand for real estate in what has historically been a sleepy, conservative market.

Before Saskatchewan’s agriculture, potash, oil and gas, uranium and diamonds began attracting the world’s attention five years ago, the demand and prices for Regina’s commercial space had remained more or less the same for 25 years.

“If you came to the city today looking for a 15,000-square-foot fabricating facility or a 30,000 square-foot warehouse, I’d have nothing to show you,” said Paul Mehlsen, a Reginabased broker with commercial real estate firm NAI Commercial Real Estate Ltd. “Five or six years ago, I would have put you in my car and had a number of locations to show you.”

Regina, along with Saskatoon, has the lowest industrial vacancy rate in Canada at 1.24 per cent, according to Colliers International.

As a result, the city’s commercial real estate has lost some of the “price advantage” it enjoyed in previous years, said Tom McClocklin, managing director of Colliers’ Saskatchewan team, during the company’s 2011 real estate forecast in February.

Photo: NAI Commercial Real Estate Ltd.

3

egina’s problems are the kind that other cities envy.

(TOP) Larry Hiles, president and CEO, Regina Regional Opportunities Commission: government-funded body had a key role in establishing the Global Transportation Hub. (LEFT) Paul Mehlsen of NAI Commercial Real Estate: Cap rates below 8 per cent are not uncommon for quality commerical properties.

McClocklin said rates for industrial space remain manageable when compared with some other cities in Canada.

And similar to other real estate sectors in Regina, the city’s industrial sector is slated for major changes, including rapid new development.

5SBOTQPSU IVC

Driving change in the industrial market is the relocation of Canadian Pacific Railway’s (CP) downtown railyards to an area five kilometres west of the city dubbed the Global Transportation Hub (GTH).

The first phase of CP’s relocation will likely begin near the end of the year – opening up a new swath of land downtown for development.

In the meantime, other businesses are constructing or negotiating to construct facilities

in the GTH, which is meant to be a nexus for rail, truck and air freight.

Its first tenant is Canadian Logistics Services, which opened the first phase of a 965,000-square-foot, $350 million distribution centre on a 160-acre patch of land in the GTH in February.

When it is fully operational later this year, the distribution centre, which handles food and other products for the Loblaw Companies, will employ approximately 800 people.

Industrial isn’t the only sector in Regina facing growth constraints: the city has the lowest office vacancy rates among major Canadian markets, at 1.8 per cent, according to commercial real estate firm Avison Young.

With a near-zero vacancy rate, Class A space is nearly impossible to find in Regina.

NAI noted in its 2011 forecast that office rental rates continue to rise as the difference

between new construction and the existing shrinking supply becomes more apparent.

“The demand is going to be there, it is whether or not we are going to have the commercial real estate available to take advantage of the demand,” said Mehlsen.

NAI expects rates to stabilize in 2013, following the ribbon cutting for the 200,000 square-foot Hill Tower No. 3, which will be the first office tower built downtown in 20 years.

An 80,000-square-foot downtown office building, which is still in planning phase, and a few other smaller projects in other parts of the city are also, according to NAI, “testimony to the market’s strength.”

Mehlsen said that the current supply constraints may be hindering outside investors, such as Toronto’s Whiterock REIT and Winnipeg’s Artis REIT – two income trusts that have made major purchases in Regina in recent years – from making further investments in the city’s commercial real estate.

“The challenge for us is finding good-quality investment product that they’d be inclined to buy,” said Mehlsen.

According to NAI, capitalization rates below 8 per cent are not uncommon for quality properties that are well located and well tenanted in Regina.

Photo: WAM Development

CURT CHEREWAYKO

.JOJOH QMBZT

As the more northern of Saskatchewan’s two largest cities, Saskatoon has closer ties to resources players, including roughly half-adozen potash mines within an hour of it.

But Regina has not been left out of the resources boom.

Within a two-hour drive of the capital are nearly a dozen operating mines.

And the GTH will make Regina a major hub for many commodities destined for markets across Canada and worldwide.

Statistics Canada recently reported that

Please see In-migration page B28

4BTLBUDIFXBO SASKATCHEWAN

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FOR SALE

FOR LEASE

302 MELVILLE STREET, SASKATOON

1735 FRANCIS STREET, REGINA

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.

•

FOR SALE

1.1 acres retail redevelopment land with visibility to 8th St E with 37,000+ daily traffic volume • List Price: $2,100,000 MLS® •

Glen Hill 306 789 8300 glen.hill@colliersregina.com FOR SALE

FOR SALE

3530 KINNEAR AVE SASKATOON

2.36 acres • Zoned IL3 (light industrial business) • List Price:$826,000 MLS® •

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

240-103RD STREET EAST SASKATOON

• •

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

MLS® $4,300,000 excl. equip.

12 HIGH STREET E, MOOSE JAW

VICTORIA AVE & RING RD REGINA

FOR SALE

72 BROADWAY ST W YORKTON

Build-to-suit 15,000 SF available • 44,224 SF bldg. on 1.566 acres • Adjacent to Future Shop & Home Depot • Opp. to redevelop to multi-family • Call agent for details Excl.

• List Price:$750,000 Excl.

•

Preston Babey 306 789 8300 preston.babey@colliersregina.com

FOR SALE

290 PRINCE WILLIAM DR MELVILLE

50,439 SF mall Extra Foods anchor tenant • List Price:$2,900,000 Excl.

• •

Ryan Babey 306 789 8300 ryan.babey@colliersregina.com

* Bill Babey (Optimum Holdings Inc.) has a contractual relationship with CIR Commercial Realty Inc. operating as Colliers International

FOR SALE

Main floor leased • Five (5) upper floors ready for redevelopment • List Price: $1,300,000 Excl.

FOR LEASE

Bill Babey 306 789 8300 bill.babey@colliersregina.com

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

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

•

•

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

Gary Compton 306 260 6975 gary.compton@colliers.com

1202-1204 EMERSON AVE SASKATOON

11.2 acres Development site • 36,800 SF existing building - can be demised • Plus build-to-suit pad sites of 4,000-12,000 SF • Net Lease Rate: $11.00/SF Excl.

•

FOR SALE

3217 EASTGATE DR, REGINA

Established restaurant • Seating capacity of 235 plus patios • List Price: $595,000 Excl.

•

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

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

FOR SALE

300-1ST AVE NW, SWIFT CURRENT

38-suite apartment building • Extensive improvements • List Price: $1,600,000 Excl.

•

FOR SALE

HWY 1 & PINKIE RD, RM OF SHERWOOD • •

120 acres located at intersection of future interchange accessing Global Transportation Hub List Price: $50,000/acre Excl.

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

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

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Regina is the third-fastest-growing metropolitan area in Canada after Saskatoon and Vancouver.

Reginaâ&#x20AC;&#x2122;s population grew by 5,000 in a year to 215,000 people as of July 2010.

Many of the newcomers were young people arriving from other provinces, particularly Alberta (which was once a key destination for Saskatchewan folks that believed their future lay anywhere but in their home province).

However, accounting for most of the population growth in Regina were immigrants from countries like the Philippines, China, India and Ukraine.

And they had no problem finding work: the cityâ&#x20AC;&#x2122;s unemployment rate is the lowest among major Canadian cities at 4.5 per cent, according to StatsCan. The city had the highest real GDP growth in Canada in 2010, at 6.3 per cent, and the Royal Bank of Canada predicts Reginaâ&#x20AC;&#x2122;s real GDP growth in 2011 will be around 4.8 per cent.

Avison Young expects 2011 building permits in Regina to set a record for the seventhstraight year.

Some of the big projects in Regina that are employing locals and newcomers alike include the $2 billion expansion of Saskatoon-based Federated Co-operatives Ltd.â&#x20AC;&#x2122;s oil refinery in the city. It is boosting production capacity from 100,000 barrels of oil a day to 130,000 barrels a day. â&#x20AC;&#x153;There will be up to 3,000 people work-

ing on that site in the construction phase â&#x20AC;&#x201C; over and above the regular employees,â&#x20AC;? said Larry Hiles, president and CEO of the Regina Regional Opportunities Commission (RROC), a government-funded economic development body for 69 municipalities and First Nations in the Regina region.

The Mosaic potash mine, located 50 kilometres to the west of Regina on the way to Moose Jaw, is undergoing a $1-billion expansion.

Hiles said that, collectively, mining operations in Saskatchewan are undergoing a $6 billion to $7 billion expansion. â&#x20AC;&#x153;People typically didnâ&#x20AC;&#x2122;t drive that far for a job in Saskatchewan, but as population and infrastructure have grown people are commuting longer distances,â&#x20AC;? said Hiles. â&#x20AC;&#x153;Every one of those mines is probably drawing employees from up to an hour away in every direction.â&#x20AC;?

3FOUBM DSVODI With the health of the economy and the influx of newcomers, Regina is finding it challenging to house its growing population.

New residential developments such as the massive 800-acre Harbour Landing in the southwest of Regina, and a new tower downtown are ensuring a balanced market for homes and condos for those who can afford to buy.

And Harbour Landingâ&#x20AC;&#x2122;s 900,000 square feet of retail space is expected to ease any retail supply constraints, even if other types of commercial spaces will remain difficult to find in the near future.

The city, however, is struggling to maintain

GAS STATION & CARWASH SASKATCHEWAN ACTIVE OILFIELD $2,300,000 â&#x20AC;˘ Revenue: $3.7M (2010) Revenue is increasing. â&#x20AC;˘ 8 pumps: 3 fibre glass tanks. 6 carwash bays including 1 super long bay â&#x20AC;˘ Land size: 1.98 acres â&#x20AC;˘ Net Operating Income: $300,000 â&#x20AC;˘ Lots of renovations and good conditions â&#x20AC;˘ Good location along main highway

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BUILDING IN REGINA, SK 1759 Halifax - 2 Storeys, 5550 sq ft - $424,000 FORT QU'APPELLE, SK - 120 & 102 Broadway Street.

Total 9,860 sq. ft. Buy as a package. Multi tenant Income producing! Asking Price is $165,000 and $275,000 240 FRONT FEET DEWDNEY AVENUE - Car Lot! Asking $590,000 - CONDITIONAL SALE! GRAVELBOURG - 19 room Bed & Breakfast. REDUCED - $199,900. On 2.39 acres - MUST SELL! - All Offers Considered.

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3FHJOB 4 , Population 215,138 Average home price $258,069 Apartment vacancy rate 0.8 per cent Class A office vacancy rate 0.8 per cent Industrial vacancy rate 1.2 per cent

an adequate rental market for newcomers and transient workers who may not be ready or willing to purchase a new home.

Regina placed a moratorium on condo conversions in 2008, and is looking at ways to grow its rental market, which has the secondlowest vacancy rate among major Canadian cities at 0.8 per cent.

That vacancy rate helped drive rental rates up 9 per cent between April 2009 and April 2010, turning rents into a potential political issue in this Novemberâ&#x20AC;&#x2122;s civic elections.â&#x2014;&#x2020;

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

$3,250,000 (Normalized net income of $200,000)

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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 MLSÂŽ listings on my website www.SaskLand4Sale.com

B29

WESTERN INVESTOR MAY 2011 www.westerninvestor.com

COVER Shakers in provincial real estate scene meet for first-ever forum amidst a bright industry outlook

4BTLBUDIFXBO 3FBM &TUBUF 'PSVN WESTERN INVESTOR eil Evans was delighted but not surprised with the stunning takeup of space at his company’s University Heights Square, the largest retail development in Saskatoon.

/

In the past month, six new tenants have joined a dozen others at the square, which sits on a 23-acre site at the corner of Attridge Drive and McOrmond Drive on the city’s northeast edge.

“We knew retail demand was strong in Saskatoon,” said Evans, president and CEO of Pillar Properties Inc., who added he had no doubts University Heights would prove a hit.

“There is strong demand for retail services in University Heights with more than 30,000 people in the area and a projected population exceeding 45,000 – larger than the population of Prince Albert,” noted Ken Suchan, vice-president, Colliers International, which handled the leasing.

The first phase of University Square, which started last April with 115,000 square feet of space, is now 80 per cent leased, he said. Phase II commenced in August 2010 with the construction of an office complex. The first tenancy in the two-storey office building is Investors Group, which is now open. Three additional buildings are planned for this phase.

“Saskatoon is an island,” said Evans, whose company owns more than 600,000 square feet of the city’s commercial real estate. “This city never really saw a slowdown.”

It is a theme heard often right across Saskatchewan, which has set an envious pace for the real estate industry over the past two

years. Saskatoon is pegged as the city with the fastest growing economy in Canada. Regina has the lowest office vacancy rate in the country and both Saskatoon and Regina have among Canada’s lowest apartment vacancy rates. Saskatoon also has the country’s tightest industrial market, an indicator of its role in the oil and potash industry.

'PSVN TQFBLFST

And now Saskatchewan is welcoming its first Real Estate Forum, held in the province’s largest city on May 17.

A key speaker on the forum’s opening day will be Mario Lefebvre, director, centre for municipal studies, for the Conference Board of Canada. The newest forecast by the Conference Board has Saskatchewan leading the country in economic growth in 2011 and 2012, posting 3.9 per cent real GDP. Higher commodity prices, continued population growth, gains in the energy sector, a significant rebound in agriculture and increased activity in resource development are key factors cited in the board’s report, providing the basis for even stronger growth (4.5 per cent in real GDP) anticipated in 2012. Non-residential investment spending is a major element as well, driven by billions of dollars in expansion projects currently underway in the potash industry.

Royal Bank of Canada is even more bullish, predicting the province will see real GDP growth of 5.3 per cent in 2011 after a national high of 6.3 per cent last year.

Evans, who will join a retail real estate panel at the conference, noted that the overall retail vacancy rate in Saskatoon is around 3.3 per cent. According to a report by ICR Commercial Real Estate, prime downtown

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he inaugural Saskatchewan Real Estate Forum will be held Tuesday, May 17 at Saskatoon’s TCU Place. The forum runs from 7:15 a.m. to 4:30 p.m. and features commercial real estate experts and economists focused on Saskatoon, Regina and the overall Saskatchewan economy.

For complete information and registration, see www.realestateforums.com/ saskatchewanref, or contact George Przybylowski at 416-512-3813.

rental rates are approximately $30 per square foot.

Saskatoon’s vacancy rate is up from the near Canada-wide lows of 1.6 per cent two years, a reflection of the large amount of retail space completed since then.

In the northeast, for example, the big-box Preston Crossing joins University Heights in adding new retail. The 46-acre Preston site is anchored by Wal-Mart, Sobeys, Canadian Tire and Rona and has more than 500,000 square feet of leasable space.

Colliers notes that older retail locations, such as Riverdale and Caswell Hill may become more important, especially to smaller retailers.

It is not only retail that is seeing action in Saskatoon. Class A office space downtown – composed of just four buildings – is renting from $30 per square foot and there is very little space available. Citywide office vacancy rates are 6.6 per cent, but tighten sharply for prime sites. There is word in the city that two towers – of 70,000 square feet and 100,000 square feet – are being planned, but the forum may hear of

Photo: Imagery Photography

FRANK O’BRIEN

Neil Evans, president and CEO of Pillar Properties: Saskatoon’s biggest retail development is leasing up fast.

other projects going ahead.

It is the industrial market in both Saskatoon and Regina that is attracting the most interest.

The city is selling prime serviced industrial land for up to $400,000 per acre, a level that Tom McCocklin of Colliers McCocklin Real Estate Corp. believes will become the benchmark in the city, where the industrial vacancy rate has fallen to a record low of 2.7 per cent.

Saskatoon has a fairly small 20 million square feet of industrial and, so far, less than half the 500,000 square feet being added annually is being built on spec. However, with lease rates nudging $12 to $13 per square foot, that may change.

“Saskatoon is the gateway to the north,” McClocklin told Western Investor prior to joining a panel at the forum, noting that the city is a major staging and service area for potash companies, mining exploration companies and suppliers to the Alberta oilpatch. The outlook, he said, “is very strong.”◆

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Flood waters will crest this month

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irden and Wascada will never be mistaken for Fort McMurray but the two small towns are at the centre of an unprecedented oil boom in Manitoba.

Industry officials predict exploration in the Bakken oilfields in the southwestern part of the province will top $1 billion this year, up from $800 million in 2010. Close to 600 wells are expected to be drilled in 2011, one-third of them

by Winnipeg-based Tundra Oil & Gas. Historically, between 50 and 100 wells are drilled every year in Manitoba.

Dave Chomiak, minister of innovation, energy and mines, said if you were driving through the area and didn’t know better, you’d think you were in the heart of Alberta.

“We’ve got a mini-boom going on,” he said.

Six hundred oil drills will It’s no secret that rising oil prices are driving the activbe working this year in ity because they make the latest in drilling technology southern Manitoba. economical in a way that it wasn’t just two years ago. The most significant advancement is horizontal drilling, where water, sand or carbon dioxide is injected into a reservoir, pushing the oil to the vertical wells.

“It’s a renaissance,” said Dan MacLean, president and CEO of Tundra.

Each well requires between $1.2 million and $1.5 million of investment. Over the last five years, the oil industry has spent $2.5 billion in Manitoba and drilled more than 2,000 wells.

The situation isn’t without its challenges, however. The influx of workers to Virden, population 3,000, and Wascada, population 225, has pushed demand for housing and hotel stays through the roof. It has spurred a couple of hotel developments and some entrepreneurs have even transformed empty buildings into bed and breakfasts.

“We often don’t celebrate the growth because it’s not as dramatic [as failures].

When organizations like Great-West Lifeco and Investors Group achieve tremendous growth, it increases the overall corporate capacity [in Winnipeg],” he said.

be completely repaired shortly, according to Joel Lazer, senior partner of Lazer Grant LLP, which was appointed receiver of the hotel last November.

Lazer brushed off the extent of the damages, saying more than $25 million was spent upgrading the hotel in 2006.

“It’s been winter in Manitoba and it’s been cold,” Lazer said.

Lazer Grant has hired CB Richard Ellis Hotels Group, an international firm that specializes in divesting hotel properties, and given it a mandate to find a buyer and sell the he receiver of a recently mothballed Radisson Hecla. There is no list price but, conresort hotel in the Interlake region is confident it will be sold and reopened even sidering the upgrading expenses, it is safe to after two recent breaks in the sprinkler sys- say that the sale price will have eight figures.

Its asset value, including the hotel, a spa tem caused $500,000 in damages. and an 18-hole golf course, has been pegged More than a dozen of the Radisson Hecla Resort’s 90 hotel rooms sustained water dam- at more than $30 million.◆ age, but it’s all covered by insurance and will – Compiled by Geoff Kirbyson

Water-damaged resort up for sale

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besting the current record of slightly more than $3 million. Its features include a circular staircase leading from the main-floor master bedroom to the gym, a wine cellar, maid’s quarters and an office with a secret door that is built into the wall.

“This home isn’t for everybody. It’s a very limited market with a very limited number of homes and buyers in that price range,” said Arnie Moss, the Re/Max Professionals t has become an annual ritual that south- realtor in charge of selling the five-yearold house. “But there’s a lot of money in ern Manitobans would much rather do Winnipeg.” without.

Thousands of sandbags have been filled and placed along the banks of both the Red River, from Emerson at the North Dakota border to Lockport, and the Assiniboine River, from Brandon to Winnipeg.

The soil throughout the province is already saturated after record-setting moisture in he most compelling sports story in Manitoba last year and heavy snowfall this Winnipeg these days has nothing to do past winter, keeping flood forecasters on high with what’s happening on the field of play. alert. The Red River is predicted to crest in The city has been abuzz since early in Winnipeg by the middle of May but it could the new year that the National Hockey begin to overflow its banks near Letellier League is on the cusp of returning after a and Emerson a week or two earlier. Some 560 15-year absence. The Phoenix Coyotes are properties in Winnipeg have been targeted for on the front burner as the City of Glendale’s sandbag delivery. attempts to sell a $116-million bond offerNear-record levels in Fargo, North Dakota, ing to help Chicago businessman Matthew located about three-and-a-half hours south of Hulsizer buy the team has floundered with Winnipeg, don’t necessarily mean a repeat of the threat of a lawsuit hanging overhead.

1997’s Flood of the Century, forecasters say, The Goldwater Institute, an Arizona-based because the channel capacity of the Red River watchdog, has said it will file suit if the deal increases significantly close to the Canadais consummated because it violates the gift U.S. border. clause in the state’s constitution.

If this deal is somehow pulled from the fire, Winnipeggers are more than cautiously optimistic that the Atlanta Thrashers, whose owners have been trying unsuccessfully for months to unload the team, will be moved here.

Winnipeg’s white knights are Mark innipeg’s housing market may be on Chipman, who spearheaded the constructhe cusp of an all-time record. tion of the 15,000-seat MTS Centre, home to A 6,671-square-foot mansion in the affluent neighbourhood of Tuxedo has been listed the American Hockey League’s Manitoba Moose, and David Thomson, the 17th-richest for the second-highest selling price in the city’s history at $3.9 million. The highest was man in the world.

Dave Angus, president and CEO of the a $7.5-million property, a 13,200-square-foot Winnipeg Chamber of Commerce, said house, also in Tuxedo, which hit the market the performance of the Manitoba economy last year but didn’t sell. through the recent downturn should put to If the $3.9 million home sells for anyrest any doubts about the ability of the city’s thing close to list price, it will be the most corporate community to support a team. expensive house sold in Winnipeg’s history, 8)"5¤4 )"11&/*/( */

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Franchises B31

WESTERN INVESTOR MAY 2011 www.westerninvestor.com

Thomas Cook rolls McDonald’s hires 4,000 in one day into Canada

Photo: Thomas Cook

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Thomas Cook has inked its first co-op franchise deals in Canada.

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homas Cook North America has launched its Canadian franchise and affiliate network, signing an agreement with Advantage Travel, which has offices in Toronto, Vancouver and Montreal, and Vancouver-based CruiseCentres that provides its affiliates “with the ability to access the Thomas Cook brand, and with that its global expertise and strength.”

Affiliates will benefit from the strength that comes from having more than 3,500 Thomas Cook locations globally. According to officials, the network also offers an “unparalleled value proposition” that has been designed to help improve participants’ profitability.

Its “Branded” program provides access to the Thomas Cook name, which affiliates can use in conjunction with their own local brands.

A lower-cost, lower-feature “Lite” program does not include the use of the Thomas Cook brand, but it does feature a range of other benefits, including access to Thomas Cook travel insurance, international contacts and foreign exchange services, acccording to a company spokesperson.

cDonald’s Canada, the billions-served fast-food eatery, planned to hire 4,000 new Canadian staff as part of its April 19 National Hiring Day. Fifty thousand new employees were hired in the United States simultaneously on the same day.

The company says it is making a concerted effort to add staff as its business improves and more of its restaurants stay open longer. The company’s hiring goal translates to between three and four hires per restaurant.

“We’re one of the largest employers of youth. Our business is growing,” said Louis Payette, national media director. “More of our restaurants are open late or are open 24 hours. Last year we had our best year ever.”

The one-day hiring binge allowed candidates to apply for positions online via the company website or enter participating McDonald’s restaurants for an impromptu job interview. Those who are still interested can apply in stores or online. McDonald’s is hiring restaurant crew and management for fulltime and part-time jobs.

Reports indicate that sales growth, particularly in Asia, Africa and the Middle East, saw 2010 sales increase 5 per cent to $24 billion, a record high for the company. With over 14,000 North American locations and a combined 400,000 staff, McDonald’s has set aside $518 million in wages for its new employees.

Turnover slowed the past few years because of the weak economy, the company said.

McDonald’s sees this event as an opportunity to attract employees in a tough job market. It is also trying to shed the negative connotation of employment at the fast-food chain.

McDonald’s says about half of its franchise owners and 75 per cent of its managers started in entry-level jobs at McDonald’s.

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riszm Income Fund – which owns 400 KFC, Taco Bell and Pizza Hut franchises across Canada – filed for bankruptcy protection on March 31 under the Companies’ Creditors Arrangement Act and is selling hundreds of its outlets to a European franchisor.

The income trust was granted court protection from creditors as part of a plan to assist in the sale of its fast-food restaurants. In January, the troubled company Priszm is unloading more than 200 fastwithheld a $2 million franchising payment food outlets across Canada. as it continued to restructure.

Priszm plans to sell 231 of the fast-food eateries in Ontario and British Columbia to U.K.-based Soul Restaurants Canada Inc. Documents show Soul was offering $46.4 million for 232 Priszm outlets back in December. Some of the outlets include both KFC and Taco Bell franchises. The companies are working with their franchisor, YUM! Restaurants International, on the deal.

Earlier this month, Priszm received “a number of expressions of interest for its remaining restaurants,” the company stated.

“The company is in the process of reviewing these offers and will be negotiating with the potential acquirers in order to maximize recovery for the company’s stakeholders and provide for a going concern solution for the business,” Priszm said in statement.

Last year Yum’s 20,000 U.S. restaurants generated US$4.1 billion in sales and posted a $668 million profit. By contrast, the company’s 4,000 restaurants in China had the same revenue and a $755 million profit.

Priszm’s financial troubles escalated last summer when the company had to upgrade 75 restaurants under a franchise agreement. The upgrades, which cost about $100 million, were suspended last fall because of declining sales.

All this comes after exceptionally spectacular sales of the almost laughable Double Down burger. The fat-rich burger consists of bacon and two different kinds of melted cheese pinched between two pieces of KFC “original recipe” chicken fillets. The most successful new product ever for KFC was available in Canada for a limited time and sold over one million units from late October to mid-November 2010. “Perhaps KFC needs to think double and go double down again,” one observer commented.

Photo: WI Files

News, views and updates on Canada’s franchise industry

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This aggressive franchise push is part of a plan of surpassing last year’s 54 new franchises awarded. Newly implemented technology platforms, which focus on mobile technology and marketing, are leading to an increase in agent leads and customer satisfaco far in 2011,12 new franchising rights tion, according to the Realty Executives. to Realty Executives International, Realty Executives is one of the fastestInc. have been awarded and include new locations in Alberta and Saskatchewan. The growing real estate franchises in the United States, with approximately 700 franchises.◆ U.S.-based company plans to open other locations across the Southern U.S. this year.

– Compiled by Kevan O’Brien

Realty Execs expands to Prairies

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