Western Investor September 2011 Section B

Page 1

www.naicalgary.com RED DEER COUNTY 27 - 46 Acres (+/-) Serviced Industrial Site Zoned Medium Industrial $210,000 P.A.

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

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

Start with low prices, high demand for rentals

▲

CANMORE DEVELOPMENT • 20 Unit townhouse project • 50% complete, at "Lock Up" stage • Asking Price - $6,200,000 FOR SALE - 2 Acre Multi Residential Site - Calgary Region - 8,000 sf High Density Dev. Site - Calgary Core - Foreclosure

15 RESIDENTIAL INVESTING 101

NEXT marketing manager Shane Styles: building fasttracked as Calgary buyers snap up $167,000 condos

SOLD

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

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

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

INVESTMENT LAND FOR SALE • Located in an established commercial area, 6 km west of Calgary • Ideal for owner/user • 2.53 acres of development land; last parcel in Cell Subdivision B • Excellent access to trans Canada Highway

RETAIL BUSINESS FOR SALE • 15,000 + s.f. Building, excellent lease • Ideal for Owner/Operator. NOI = 8.1% • Prime location in Alberta city BAYS FOR LEASE 4303 - 9th Street SE, Calgary, AB • 3 Bays totalling 9,322 s.f. • Ideal for Retail / Showroom Use • Available: Immediately FOR SALE - LAND & BUILDING 3405 - 32nd Avenue NE, Calgary, AB • Site: 1.21 +/- acres • Building: 14,900 +/- sq. ft. Offers Showroom, Offices, Shop and Warehouse, Large Fenced Paved Yard - $2,800,000

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

Jim Courtney Tel: (403) 291-8873 jcourtney@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**

FOR SALE 154 Bowness Centre NW, Calgary 16,200 sf retail building $1,800,000 ($111 psf) +/- 1 acre of land Shane Olin Tel: (403) 708-9086 solin@naicalgary.com

Gene Sarmaga Tel: (403) 826-5636 gsarmaga@naicalgary.com

LIVE AND WORK IN YOUR OWN BUSINESS FOR THE PRICE OF A DECENT CALGARY HOUSE! $550,000 - $750,000 can get you into the motel business. Small Town Southern Alberta. Live and work on premises with a great income. These are very nice properties! Contact: Jim Balfour Tel: (403) 291-8860 jbalfour@naicalgary.com

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

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

11 DEATH, HOPE IN PARADISE

Calgary-born widow keeps resort dream alive in Panama’s highlands 26 THOMPSON TOUGHS IT OUT

Phoo: Judy Gr

FOR SALE/LEASE 97 Prairie Place SE, Calgary Size - 4.7 Acres Asking Price - $1,699,000 Zoning - Light Industrial. Leased for 3 years (triple net)

Cutbacks at iconic mine force diversification in Manitoba’s nickel belt SPECIAL SECTION • B11

HOT PROPERTIES

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

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

$4.29 SEPTEMBER 2011 Vol. 26/Issue 9

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

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

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

www.colliers.com/kelowna

LANDMARK CINEMAS

MERRITT – RETAIL CENTRE

PRINCETON INDUSTRIAL ESTATES

AVALON MOTEL, OSOYOOS

s FULLY SERVICED LOTS AVAILABLE IN NEW INDUSTRIAL PARK s 4WO PREMIER ASSETS BOTH LOCATED IN THE DOWNTOWN CORE s &UTURE DEVELOPMENT WITH HOLDING INCOME s 0 ENTICTON ',! SQ FT +ELOWNA ',! SQ FT ,IST 0RICE $3,600,000 BOTH PROPERTIES

JEFF HUDSON* (Personal Real Estate Corp ) MARSHALL MCANERNEY* ( Personal Real Estate Corp)

COLDSTREAM INDUSTRIAL PARK (VERNON)

s 3IZES RANGE FROM ACRE UP TO ACRES

s 4ENANTS 3UBWAY 3TARBUCKS AND -ERRITT ,IQUOR 3TORE s ,OCATED OFF OF EXIT RAMP FROM THE 4RANS #ANADA (WY IN -ERRITT s #!0 RATE ,IST 0RICE $3,280,000 MARSHALL MCANERNEY* ( Personal Real Estate Corp)

INCOME PRODUCING, PENTICTON

#ALL BROKER FOR PRICING MIKE GEDDES

996 LAVAL CRESCENT, KAMLOOPS

s %XCEPTIONALLY WELL PRICED STARTING AT $252,000 / acre. ERIC WEBER ( Personal Real Estate Corp )

INCOME PRODUCING, PENTICTON

s /VER SQ FT OF REFRIGERATED WARE HOUSE LONG TERM TENANTS

s ,OCATED ON THE EAST SIDE OF 6ERNON JUST OFF (WY s ACRES TO ACRES CAN BE COMBINED FOR LARGER SIZES s 2AIL ACCESS

s 5NIQUE OPPORTUNITY UNIT MOTEL AND LIVING QUARTERS PLUS A PAD MOBILE HOME PARK s /N (IGHWAY IN DOWNTOWN /SOYOOS BLOCKS TO /SOYOOS ,AKE s &RONTS ONTO (IGHWAY BACKS ONTO A POND ,IST 0RICE $2,800,000 ERIC WEBER ( Personal Real Estate Corp )

List Price: $1,895,000

s SQ FT INDUSTRIAL BUILDING ON ACRE ZONED - ,IGHT )NDUSTRIAL s UNITS WITH VACANCY OF SQ FT List Price: $725,000 JEFF HUDSON (Personal Real Estate Corp ) MARSHALL MCANERNEY ( Personal Real Estate Corp)

MERRITT DEVELOPMENT s #ORNER ACRE IN 2AIL 9ARD -ALL ACRES NEXT DOOR s 0ACKAGE PURCHASE OPPORTUNITY FOR LESS THAN LARRY GOOD (Kamloops)

s BUILDINGS FULLY LEASED TOTALING SQUARE FEET SITUATED ON ACRES IN 0ENTICTON #ALL BROKER FOR PACKAGE List Price: $3,045,000. JEFF HUDSON, ( Personal Real Estate Corp) MARSHALL MCANERNEY

COLDWELL BANKER COMMERCIAL WORLDWIDE LARGE CONSTRUCTION PROJECTS UNDERWAY IN OUR AREA BLOCK MOTEL NINE UNIT & MOBILE HOME REDUCED TO $695,000

30 UNIT APARTMENT GREAT LOCATION NICE SHAPE

C-STORE, GAS BAR, LIQUOR STORE, POST OFFICE

PRIME RIVER VIEW LOCATION, BUS STOP IN FRONT, MAINLY SENIORS, ALWAYS FULL

$1,800,000 TIME & PLACE

LIQUOR STORE & RESTAURANT & PUB

5 ACRES 5800 SQ. FT. BUILDING CURRENTLY RESTAURANT & PUB

CHRISTINA LAKE $489,000

16 NEWLY FINISHED ROOMS EXTENSIVE FIRE UPDATE, NEW SPRINKLERS SYSTEM

Reduced to $749,000 HOTEL, LIQUOR STORE, RESTAURANT $549,000 DER SALE

COURT OR

VENDOR MAY FINANCE

$1,490,000

Call Jack Giles 250-512-9997

FORMER SCHOOL

18,000 SQ. FT. DISTRIBUTION OR MANUFACTURING CENTRE

FORMER GROCERY STORE WITH APARTMENT PRIME DOWNTOWN LOCATION $104,900

NICELY LOCATED WITH ADEQUATE PARKING AND FENCED STORAGE

3 LUXURY SUITES UPPER LEVEL, SIGNIFICANT RESIDENTIAL REDEVELOPMENT POTENTIAL, LOG FURNITURE COMPANY USES LOWER LEVEL, ZONED C10A $2,750,000

AREA $750,000

Call Brian Yeo 250-231-0676

DEVELOPMENT PROPERTY NOW REDUCED $575,000

100 ACRES

PROPOSED

LARGE INDUSTRIAL SITE 24 LOT DUPLEX MAJOR POWER LINE SUBDIVISION 4TH MAJOR GAS LINE STAGE OF EXISTING POTENTIAL COGEN SITE SENIOR HOUSING DEV. 4000 Sq. Ft. Body Shop well equipped, plus 3 bay former Auto Body Service Center. 600 ft. of Highway Frontage 1ST TRAIL REAL ESTATE LTD.

$750,000

$888,888

EUROPEAN BAKERY HIGH VOLUME OWNER RETIRING, WILL STAY ON AND TRAIN $300,000

MILANO PIZZA & CHICKEN TAKE OUT $169,000

Excellent Volume Vendors will train.

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

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On the cover Bucci marketing manager Shane Styles at the investorfriendly NEXT condominium site in SE Calgary. Photo: Kevin Udahl

FEATURES 15 0/ 5)& $07&3 3FTJEFOUJBM JOWFTUJOH

Tight vacancy rates draw landlords to Prairie centres

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

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Calgary-born widow forging ahead with luxury resort

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Pulp mill reopening continues economic good news Download a PDF of all our Regional Roundups online at www.westerninvestor.com

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Vale Inc. job reduction forces city to change on a dime

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

LITTLE BRITAIN SPECIALTY FOODS is the Okanagan valley's largest retail store specializing in groceries, sweets, souvenirs all imported from the United Kingdom. Established business since May 2007 The business has a loyal customer base. This established business owns the Little Britain trademark in Canada & its brand is recognizable through local print & radio media, tourism guides, Great opportunity for growth. Full turnkey operation. Available: $45,000 + HST MLSÂŽ

MBM MARINA IN SICAMOUS, BC. Potential 100 room hotel. Prominently located at the North end of the channel between Mara & Shuswap Lakes (Sicamous Narrows. Recently consolidated to include 2.04 acres with 320 linear ft of waterfront. Deep moorage on the north owing channel. Also included is a .24 acre parcel NE of the waterfront oriented section, across Young Cresc. to be utilized in conjunction with marina operations. Previously Offered at $11,500,000 – Now $6,500,000 MLSŽ

REDUCED FOR QUICK SALE! Gentleman’s Estate. Spectacular 18.59 acre estate with view of Layer Cake Mountain and Okanagan Lake. This property currently has a 10 site dry RV park. Residence also on property. Owner wants this property SOLD! Where can you buy 18.59 acres with a house and shop at this price? Offered at: $990,000 – NOW $849,000 MLSŽ

INDUSTRIAL UNIT – GREAT LOCATION. Approximately 1,349 - 3,119 square feet available. Radiant heating, 20 foot Ceilings & 14x10 foot insulated overhead door. Easy access to Hwy 97, Kelowna Intl. Airport, UBCO & Quail Ridge golf course & subdivision. CD15 Airport Business Park Zoning allows multiple uses including ofďŹ ces. Asking: $545,825.00 or Lease @ $9.00 psf per month + NNN + HST MLSÂŽ

1,282 +/- SQ. FT. IN A NEWER BUILDING minutes away from UBCO & Kelowna’s Intl. Airport. The space has a 12 x 10 overhead door at the front of the unit & is in a shell state. Incentives available for qualiďŹ ed tenants. The CD15 zoning allows multiple commercial & industrial uses & even 100% ofďŹ ces! Asking: $855.00 per month + NNN + HST MLSÂŽ

LAKE COUNTRY COMMERCIAL & RESIDENTIAL MIXED DEVELOPMENT LAND Hotel, Commercial, and Residential Lands FASHIONABLE DOWNTOWN CORE JOIN IN THE PROFESSIONAL AND RETAIL MIX in the ever expanding Kettle Valley area in the only commercial buildings currently available. Great size & layout for various retail or professional. 2 units have improvements & one is in a shell state ready for your leasehold improvements. Located in the same building as Kettle Valley Grill, daycare centre, coffee shop, chiropractor, etc. Call for unit sizes. Asking: $1,000 - $1,888 per mth plus NNN + HST MLSÂŽ

CORNER OF SUCCESS IN W. KELOWNA: 5 Bays in approx. 3,028 Sq. Ft. plus BONUS of approx.832 sq.ft. mezzanine & machine shop. Includes client reception, ofďŹ ces, parts storage, oor hoist & pole sign on busy Main Street (Hwy 97). Fully municipal serviced 0.33 Acre land can be expanded to 0.47 Acre car lot. All measurements are approximate and should be veriďŹ ed if important. Asking: $3,300 /mth psf Plus NNN + HST MLSÂŽ

A +/- 0.92 Acres for $1,000,000 + HST B +/- 2.93 Acres for $3,399,000 + HST Pending C +/- 2.66 Acres for $2,999,000 + HST

SERVICED & READY TO BUILD ALL 6.5 ACRES FOR $6,999,999 + HST

B4 Interior British Columbia FOR LEASE RETAIL OFFICE SPACE DOWNTOWN CRESTON 1230 CANYON STREET READY FOR OCCUPANCY 2011 CRESTON, BC Leasable Space in a Brand New Building Located in Downtown Creston UĂŠÂŁĂƒĂŒĂŠyÂœÂœĂ€ĂŠÂœvviĂ€ĂƒĂŠĂ€iĂŒ>ˆÂ?ĂŠĂƒÂŤ>Vi UĂŠĂ“Â˜`ĂŠEĂŠĂŽĂ€`ĂŠyÂœÂœĂ€ĂƒĂŠÂœvviĂ€ĂŠÂœvwViÉÀiĂŒ>ˆÂ?ĂŠĂƒÂŤ>Vi UĂŠ"Ă›iÀÊ{]ÇääĂŠĂƒÂľĂŠvĂŒĂŠÂŤiÀÊyÂœÂœĂ€ UĂŠ7Â…iiÂ?VÂ…>ÂˆĂ€ĂŠ>VViĂƒĂƒÂˆLÂ?iĂŠiÂ?iĂ›>ĂŒÂœĂ€

CRESTON PLACE HOLDINGS LTD. PH: 250-428-9445ĂŠUĂŠ 8\ĂŠ250-428-5786 UĂŠ/ÂœÂ?Â?ĂŠ Ă€ii\ĂŠ1-877-428-9445 ĂŒ>Ă€i˜`iÂŽJĂŒiÂ?Ă•Ăƒ°Â˜iĂŒ

For Sale THE VERY BEST LIVING/INVESTMENT 10 very sunny acres – Fronting South Thompson River Parkland Miles of navigable waters from Shuswap to Kamloops Lake Surrounded by trout lakes and river salmon/trout ďŹ shing Quality 3 B/R and den home – irrigation - high corn heat units - possible grapes - nursery – turf - horses or - safely park your capital for long term gain

SALMON ARM, B.C. Reduced to $600,000 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 six-plex. Some suites are level entry. Can be rented. Quiet pets welcome. Modulars built by SRI Homes in Kelowna. Foundations are ready and waiting for the two four-plexes. All services and driveways are in.

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

SHUSWAP LAKE 634 Hysop Place Chase BC Price $699,000 KADREA 104896 MLSÂŽ 10032924

$2,500,000 Vendor may carry some ďŹ nancing and/or build project Consideration to Realtors

Kamloops/Pritchard - contact: northbank@cablelan.net

@6BADDEH Business For Sale s %XCITING RETAIL BUSINESS &OR 3ALE SPECIALIZING IN CHILDREN S CLOTHING s ,OCATED IN THE 3UMMIT 3HOPPING #ENTER IN +AMLOOPS s 3TORE FRONT BEAUTIFUL INTERIOR LAYOUT s %XCELLENT POTENTIAL FOR FUTURE GROWTH

Asking Price $49,000 plus inventory

240 Lansdowne Street

For Sale or Lease

s 'REAT INVESTMENT OPPORTUNITY BUILDING IS LOCATED IN THE CENTRAL DISTRICT OF DOWNTOWN +AMLOOPS s 0RICE REDUCED VACANT NOW s 0ARKING AVAILABLE FOR 4ENANT AND CUSTOMERS s %XCELLENT SIGNAGE OPPORTUNITY AND HIGH VISIBILITY s ,EASE 2ATE SQ FT PLUS OPERATING COSTS

Asking Price $409,000 Outstanding 78’ of WATERFRONT. Property offers manicured landscaping & large covered Deck partially enclosed. Well maintained & perfect for the Family to enjoy the water everyday.10’ X 20’ ft DOCK & buoy included. Many more extras. A MUST SEE!

4354 Copper Cove Rd, Scotch Creek BC Price 949,000 MLSÂŽ 10020318

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

Email: mona@mcmrealestate.ca

www.mcmrealestate.ca

VERNON & AREA

Plus Zoning in place for 65 to 80 unit high return/high demand Mobile Home Park - build anytime. Municipal sewer/water. Plans, engineering & cost estimates completed

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

TRADES CONSIDERED ON SELECT PROPERTIES

Spectacular view of Copper Island and Shuswap Lake. Home has been extensively renovated with an open concept on the upper level. Property offers privacy, quietness lots of room for your toys on the 1+ Acre. Easy access to the water via the cable lift.

TREVOR MANZUIK 250-955-6269 OFFICE: 250-832-7051 TF: 1-888-676-2435 RE/MAX Shuswap Realty Salmon Arm, BC

PREMIUM STORAGE YOU OWN! GARAGETOWN - VERNON Premium Storage with a difference- YOU OWN IT! - 47 fully customizable units. 20x48, 24x48 and larger w/14’ overhead doors plus a drive-through model. Ideal for RVS, boats, collectors, retail and business overow. Level 3 acre site w/ quick access to all major routes. Fully furnished Owners Lounge! Offering preconstruction incentives from $125,900 MLSÂŽ CARWASH – WILLIAMS LAKE ProďŹ table and well maintained! Great Family operation or for absentee owner. ½ acre lot, 3 high pressure truck and 3 medium pressure car bays, new detailing business. $949,000 MLSÂŽ TOURIST COMMERCIAL ON OKANAGAN LAKE .23 level acre across from public beach! Older home with long term tenant. $650,000 MLSÂŽ

BUSINESS LOANS & MORTGAGES

RETAIL/WAREHOUSE WITH SUITE 10,800 sq.ft - exible use. High visibility on main commercial road across from Mall. Tenant would like to stay. Great holding property. $1,199,000 MLSŽ

Taylor Capital Inc.

TRANSCANADA HIGHWAY FRONTAGE 1.8 acres with 500’ frontage. Previously operated as Gas station, store, restaurant, launderette. Includes rental suite and 5 unit mobile home park. Main store built in 2003/ Sold As is Where is. Opportunity! Close to Sicamous, BC. $515,000 MLSŽ

Proudly arranging financing for B.C. businesses since 1998

UĂŠĂŠ"ÂŤiĂ€>ĂŒÂˆÂ˜}ĂŠLĂ•ĂƒÂˆÂ˜iĂƒĂƒiĂƒĂŠÂ‡ĂŠÂœÂŤiĂ€>ĂŒÂˆÂ˜}ĂŠÂ?Âœ>Â˜ĂƒĂ‰Â?i>ĂƒiĂƒĂ‰ ĂŒiÀ“ÊÂ?Âœ>Â˜Ăƒ UĂŠĂŠ Ă•ĂƒÂˆÂ˜iĂƒĂƒĂŠ Ă?ÂŤ>Â˜ĂƒÂˆÂœÂ˜ĂŠÂ‡ĂŠÂ“iââ>˜ˆ˜iÉ}Ă€ÂœĂœĂŒÂ…ĂŠV>ÂŤÂˆĂŒ>Â? UĂŠĂŠ ÂœĂŒiÂ?ĂƒĂŠEĂŠ ÂœĂŒiÂ?ĂƒĂŠÂ‡ĂŠÂ?œ˜}ĂŠĂŒiĂ€Â“ĂŠÂ“ÂœĂ€ĂŒ}>}iĂŠvˆ˜>˜Vˆ˜} UĂŠĂŠ Ă•Â?ĂŒÂˆĂŠ >“ˆÂ?ÞʇʍÕÀVÂ…>ĂƒiĂŠEĂŠVÂœÂ˜ĂƒĂŒĂ€Ă•VĂŒÂˆÂœÂ˜ĂŠvˆ˜>˜Vˆ˜} UĂŠĂŠ œ““iĂ€Vˆ>Â?ĂŠEĂŠ ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ʇʍÕÀVÂ…>ĂƒiĂŠEĂŠVÂœÂ˜ĂƒĂŒĂ€Ă•V‡ ĂŒÂˆÂœÂ˜ĂŠvˆ˜>˜Vˆ˜} UĂŠĂŠ Ă•ĂƒÂˆÂ˜iĂƒĂƒĂŠ*Â?>Â˜ĂƒĂŠÂ‡ĂŠÂ˜iĂœĂŠEĂŠiĂ?ÂˆĂƒĂŒÂˆÂ˜}ĂŠLĂ•ĂƒÂˆÂ˜iĂƒĂƒiĂƒ A no obligation assessment is just a call away.

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

NURSERY/HORSE SET-UP In heart of Coldstream Valley! 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 FORMER PACKING HOUSE OFFERS 38,000 SQ.FT. Warehouse can be cooled or heated. Of street semi-trailer, staff parking. Extremely solid. Zoning supports brewing/distilling, commercial, retail, care center, apartment and more. Downtown location. $1,949,000 MLSÂŽ SERVICE COMMERCIAL DEVELOPMENT SITE Ideal for end user or subdivision. Fully serviced area w/access from 2 or 3 roads. Zoning allows for 10,800 sq.ft +. Multiple uses including residential above main oor. $5,750,000 MLSÂŽ IDEAL FOR WATER BASED BUSINESS .51 level acre zoned I1 Light Industrial. 18’ x 30’ shop and 3 bdrm house. Located between downtown and yacht club/boat launch. Next to airport. Rare Find! $688,000 MLSÂŽ OKANAGAN RANCH 681 acre Ranch (or potential development) 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 w/some stunning Kalamalka Lake views. 180 acres out of ALR. $6,495,000 MLSÂŽ

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

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

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

Interior British Columbia B5

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

London Hotel, and a similar place in Quesnel, with intentions of taking these low-income complexes and shaking out the criminal element while keeping the low-income tenancy. “We have revamped buildings in the past that have the same issues,â€? he told the Prince George Citizen. “It’s nothing new. I have worked in Vancouver with a lot of lowerincome people and societies, so we can make this work out. “There are three or four tenants in there he notorious Ranch Motel in Prince who are not good, and the rest are just fine. George – where police visits are a near It doesn’t take too many to make the builddaily occurrence – has been bought by a group of Vancouver investors who now face ing suffer. Some of these bad ones have been planted there for a while so our first task is to a showdown against undesirable tenants. The Ranch Motel faces the Redwood Square get rid of them. It has already started. Some are already on their way out and we are keepshopping complex and the Victoria Medical ing up the pressure.â€? Building, while the quiet Connaught neighAs the bad eggs are cracked loose from bourhood rises up behind. It has been the the motel, the nest will be re-feathered, said butt of jokes and innuendo for years, but in the past few months police have been paying Danyluk. Work on the exterior has already begun, and a total fix-up will happen room more visits there than usual. by room. “It has been high on our activity list, The investor group also hired a new on-site lately,â€? said Prince George RCMP Cpl. Craig Douglass. “We have occasion to be there basi- property manager to co-ordinate the daily cally every day, sometimes more than once. It turnaround plans. This includes a camera surveillance system and reporting suspicious has gotten a lot of attention from our downactivity to police. town enforcement unit and it has been the Douglass said the new owners and manager source of numerous complaints from neighcame of their own accord to invite the RCMP’s bours and community members.â€? focus on the property. All the suites are rented on a long-term – Prince George Citizen basis. One room’s feature window is smashed out. The motel’s dumpster is surrounded by garbage on the ground. The pavement is busted, the property is overgrown with weeds and strewn with trash, the plant boxes have no flowers and there is something suspiciously heavy about the makeshift curtains forming C Hydro is adding enough renewable visual barricades to some rooms. electricity to power 70,000 homes annuEspecially telling is how the residents wear- ally thanks to four new bioenergy projects ing clean clothes, who come home holding located in Chetwynd, Fraser Lake, Fort St. parcels or bags of groceries, won’t make eye James and Merritt. contact, march directly from the sidewalk to The four clean-energy projects will produce their doors and waste no time getting keys in electricity using sawmill and manufacturing the lock and doors closed behind them. debris, roadside debris, logging slash, sort“There are legitimate, law-abiding, good yard debris and biomass derived from standtenants there, and they are victims, too,â€? said ing timber, including pine-beetle-damaged Douglass. trees. Philip Danyluk of Living Options Real The projects were selected under the secEstate Services is part of a Lower Mainlandond phase of the Bioenergy Call for Power, a based investor group that purchased the program designed to facilitate the acquisition Ranch Motel in March. He also owns the of clean, renewable and cost-effective energy. 8)"5¤4 )"11&/*/( */

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Showdown at the Ranch Motel

BC Hydro opens biomass plants

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LIGHT MANUFACTURING AND DISTRIBUTION COMPANY FOR SALE Founded in 1967, this very successful and well known company manufactures and distributes several lines of outdoor productsto residential, commercial and industrial clients. 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 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

Photo: SmartCentres

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New SmartCentres development will include a two-acre Wal-Mart.

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martCentres, Canada’s largest retail developer, has broken ground on a new 117,000-square-foot shopping centre in Mission. The nine-acre site, at the intersection of Lougheed Highway and Wren Street, will be anchored by a 95,000-square-foot Wal-Mart store, expected to open early next year. SmartCentres will be investing more than $30 million into the local economy through the construction phase of the development. The project is also forecast to contribute approximately $700,000 in annual property taxes to the District of Mission and create over 400 construction and retail jobs in the community, according to the company. District of Mission Mayor James Atebe noted the centre will reduce the outflow of retail spending to neighbouring communities, such as to nearby Abbotsford, which already hosts a Wal-Mart. Sylvain Rivet, regional director of real estate for Wal-Mart Canada Corp., was on hand to commemorate the ground-breaking. “Wal-Mart looks forward to being part of the community in Mission,� she said. Members of Mission’s Downtown Business Association seem to agree. A quick poll of local merchants found a welcoming attitude to the world’s largest retailer. “People who shop at Wal-Mart are already driving to Abbotsford anyway,� said Carlo Billenger, owner of Rex Cox Mens Wear. “Having a Wal-Mart here will give our kids a chance at jobs, and it could attract other big retailers. It takes Mission to the nextlevel.� The four new projects will require capital spending of more than $300 million and create many local jobs, according to Hydro.

REIT buys Sooke retail centre

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ictoria-based Partners Real Estate Investment Trust (Partners REIT) has bought the Evergreen Shopping Centre in Sooke for a reported $15.8 million. The 88,200-square-foot open-air shopping centre, the largest in Sooke, is anchored by a Western Foods grocery store and a Shoppers

Drug Mart. The five-building property is 96.2 per cent leased and generates approximately $1.2 million in annual leases, according to Partners. Partners REIT currently owns (directly or indirectly) 18 retail properties in British Columbia, Manitoba, Ontario and Quebec, with approximately 1.3 million square feet of leaseable space. The assets of Partners REIT are managed by LAPP Global Asset Management Corp., an affiliate of Victoria-based League Assets, the firm backing recent high-profile developments at Colwood Corners near Victoria and the Plaza Hotel in downtown Victoria.◆ – Compiled by Frank O’Brien

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FAIRMONT HOT SPRINGS, BC HIGH EXPOSURE COMMERCIAL PLAZA FOR SALE Fairmont Plaza located in the commercial heart of Fairmont with excellent exposure on the main road to Fairmont Hot Springs Resort. 7200 sq. feet building – 3 strata titles and Manager Suite on 0.91 acre property. Will sell as complete unit or strata’s separately.

$1,500,000

Contact: Paul Tardif 250-345-6506 250-342-1571

B6 Interior British Columbia

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

EXCEPTIONAL OKANAGAN PROPERTY

DEVELOPMENTAL LAND AND

GOLF COURSE FOR SALE IN THE BEAUTIFUL BC INTERIOR

162 Acres s 9-Hole Golf Course s Club House s Residence s Trades Considered s

Dwight Vos 250.371.7992 Tracy Mackenzie 250.318.2938

BEST-WEST REALTY LTD. 250.554.4511

Prime Waterfront South Okanagan

7

ACRES

LAKEFRONT

Full municipal services Adjacent to a golf course with 450 condo units and a hotel currently under development $280,000 annual income Hold for investment or develop to your plans on your schedule $ 4,350,000 E-Mail: lkirsch@shaw.ca

FOR SALE MOBILE HOME PARK FORT ST JAMES, BC

JOHN KRISTIAN 250.549.4161

UÊÊ >À}iÊ >V iÉ7i ` }Ê- «Ê– Suitable for investor or owner/operator. Includes land & buildings. fÓ°ÓxÊ

1-800-661-6988

UÊÊ `ÕÃÌÀ > Ê iÛi « i ÌÊ > ` – 130 acres, with highway and railroad access. Reduced to $995,000 UÊÊ vÊ ÕÀÃiÉ iÛi « i ÌÊ > `Ê qÊ Interior 162 Acres Deluxe Residence - Club House etc. Offers toÊÊ fΰÓxÊ COMMERCIAL BUILDINGS UÊ > «Ã – 2 Tenants – 8.5% Cap

$450,000

UÊ }> Ê > i – 3 Tenants – Well Established

$299,000

UÊ > «Ã – Future Highrise expansion

www.westerninvestor.com

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UÊ >V iÊ Àii – Hwy Frontage – Secure Yard

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

OKANAGAN OPPORTUNITIES Acreages

Investment Properties

Court Ordered Sales

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Tim Down ]Ê*°Ê ««]Ê ]Ê, ­ ® "Professionalism You Can Trust"

PRINCETON, BC Great hwy exposure – 0.32 acre Room for expansion – Well established Lots of opportunity to expand $238,300 MLS #132352

VERY PROFITABLE BUSINESS & LAND

Excellent location – Excellent Cap Rate (almost 20%) – Business offers full service electronics – Only one in Princeton $318,300 MLS #112486

BUSINESS & BUILDING FOR SALE GREAT COMMERCIAL BUILDING

Bring your ideas!! Nursery? Riding Academy? Close to town. $1,275,000 MLS 100715

Bus Depot Land, building, lease incomes and a well established business. Downtown Summerland across from schools. $575,000 MLS 113650

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Great location – Everything included – Restaurant seats 88 plus 20 outside Lots of room – 3 lots! Bring your ideas! $380,000 MLS # 112815

UÊÊx {{]Ê x {nÊ EÊ x ÈnÊ } Ü>ÞÊ ÇÊ -]Ê *i>V > `Ê Ê Î°äÇÊ >VÀiÃÊ vÊ «À iÊ } Ü>ÞÊ `iÛi « i ÌÊ > `Ê >VÀ ÃÃÊ vÀ Ê " > >}> Ê > i

RE/MAX Kelowna Westside

FOR SALE HYDRAULIC/MACHINE SHOP

UÊÊxÓÓxÊ } Ü>ÞÊ ÇÊ ]Ê i Ü >Ê ÊÎÊ>VÀiÃÊÜ Ì Ê {È Ê viiÌÊ vÊ vÀ Ì>}i]Ê ,Ê > `Ê i>ÀÊ i Ü >Ê ÌiÀ >Ì > Ê À« ÀÌÊ> `Ê1 "

Cell: 250-864-9140 Toll: 1-800-367-3339 tim@timdown.ca www.timdown.ca

$3,000/mth rental income

10 Acre Prize Property + 2 Residences

UÊ*iÀà > É,iVÀi>Ì > Ê,ià `i Vi

john@vernonhomes4sale.com ÊÊÊ$899,000

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Land/Concrete Building/Great Revenue

Restaurant & deluxe 2 bdrm upstairs suite. Operate Restaurant or lease to the established tenant. $495,000 MLS 109153

UÊ i`ÊEÊ Ài> v>ÃÌ]Ê À« À>ÌiÊ,iÌÀi>ÌÊ

BUSINESS AND INVESTMENT OPPORTUNITIES

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SUMMERLAND

UÊÈÊL`À ÃÊ> ÊÜÉÊi ÃÕ ÌiðÊ

503-665-0646 hkinor@Live.com

1-888-676-2435 www.rachelpasemko.net rachelpasemko@remax.net

jekroberge@shaw.ca ORCHARD COUNTRY nnn%_fd\kfnejg\Z`Xc`jk%Zfd

UÊ ÕÌiÃÊÌ Ê- ÛiÀÊ-Ì>ÀÊÃ Ê Ê> `Ê ` Ü Ì Ü Ê6iÀ Ê °Ê

RE/MAX Shuswap 1111 Lakeshore Dr SW Salmon Arm BC V1E 1E4

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ENDERBY, BC Commercialland, building and business opportunity, plus bonus residential suite currently rented. Additional storage area can be converted into second residential suite if desired. Street level store includes SEARS, DHL and Purolator outlets. Established bulk food store known as the Stocking Up Shop. Busy store frontage. Established clientele. Turnkey. RACHEL PASEMKO REALTOR/ASSOCIATE BROKER

COURT ORDERED SALE 7981 Silver Star Rd

Nicest designed building in town 3 offices/1 retail/staff room – Conference room and more! $938,300 MLS #131678

First Time Offered! A corner property in Keremeos – 286’ x 272’, with 272 ft frontage on Hwy 3. Hwy 3 extends from Hope through Keremeos to Osoyoos & east to Alberta. This property has 286’ frontage on the Keremeos By-Pass Road which connects to Hwy 3A to Penticton to the north and OK Falls & Oliver to the South Water, electric power & natural gas are available at the property line. Suggested uses include: Roadside business, pub, restaurant, motel, office, retail and overnight RV parking.

Owner wishes to retire.

Asking 420,000

DEAN STINSON

JUDY KLASSEN

250-295-8537

250-295-5839

www.thedean.ca

RE/MAX COUNTRY

www.buyandsellprinceton.ca

Contact for info at:

604-255-0866 Fred

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

Interior/Northern British Columbia B7 INVESTOR ALERT

K < I I 8: < # 9 :

SUNNY OKANAGAN Fully managed investment condominiums

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Fully renovated building, rented with in-suite laundry

PRIVATE COUNTRY ESTATES Mabel Lake, near Vernon, BC 17 Acres $200,000 25 Acres $330,000

Great cash ow, Great Investment - Starting from $142,900

G_fe\ ),'$-*,$0+(/ fi [dZifYY7k\clj%e\k

Call 250-826-2284 or 604-725 4872 250-547-2088 www.mabellake.ca

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

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

NEW LISTING – CHRISTINA LAKE CAMPGROUND-RV PARK

KAMLOOPS, BC & AREA UÊ Clearwater, BC – Mobile Home Park land. 15 acres plus 2.7 acres commercial, fronts on highway. Super buy !ÊÊ $289,000

EXTREMELY RARE 160 ACRES Not in ALR!

UÊÊKamloops – 18,000 sq ft warehouse for lease. 7.00 per sq ft plus triple net. Has refrigeration, loading docks. Close to city centre. UÊÊClearwater, BC – Chinese restaurant land, building, Ÿ acre lot, equipment, liquor license, 4 bedroom suite. $279,000

UĂŠnxĂŠ-ÂˆĂŒiĂƒĂŠĂœÂˆĂŒÂ…ĂŠ Ă•Â?Â?ĂŠEĂŠ*>Ă€ĂŒÂˆ>Â?ĂŠ-iĂ€Ă›ÂˆViĂƒ UĂŠ >ĂƒĂžĂŠ>VViĂƒĂƒĂŠÂœvvĂŠ ˆ}Â…Ăœ>ÞÊÎ UĂŠ Ă•Â?Â?ĂŠv>VˆÂ?ÂˆĂŒÂˆiĂƒĂŠÂˆÂ˜VÂ?Ă•`ˆ˜}ĂŠÂŤÂœÂœÂ? UĂŠ"ÂŤiĂ€>ĂŒiĂƒĂŠ >ĂžĂŠÂŁĂŠĂŒÂœĂŠÂ“Âˆ`ĂŠ-iÂŤĂŒi“LiÀÊ

UÊBarriere, BC – 5 unit mini mall plus full basement, hwy frontage, plus vacant lot to expandÊ$399,900

UĂŠ{°Â™ÂŁĂŠ VĂ€iĂŠ ˆViÂ?ÞÊ/Ă€ii`ĂŠ*Ă€ÂœÂŤiĂ€ĂŒĂž UĂŠ Â?ÂœĂƒiĂŠĂŒÂœĂŠÂŤĂ•LÂ?ˆVĂŠLi>VÂ…]ĂŠLÂœ>ĂŒĂŠÂ?>Ă•Â˜VÂ… UĂŠ Ă?ViÂŤĂŒÂˆÂœÂ˜>Â?Â?ĂžĂŠĂœiÂ?Â?ʓ>ÂˆÂ˜ĂŒ>ˆ˜i` UĂŠ*iĂ€viVĂŒĂŠvÂœĂ€ĂŠĂƒiÂ“ÂˆĂŠĂ€iĂŒÂˆĂ€i`ĂŠVÂœĂ•ÂŤÂ?i

UĂŠĂŠKamloops – Telecommunications business for sale. Owner retiring after 14 successful years selling, installing & repairing telephone & voice mail systems, data wiring, ďŹ ber optic cable installs. $175,000

Asking Price $799,000

NEW LISTING - FORECLOSURE SALE - FORMER GOLF COURSE UĂŠĂŠ Ă€>˜`ĂŠ ÂœĂ€ÂŽĂƒ]ĂŠ ʇÊ ÂœĂ€Â“iÀÊ Ă€>˜LÞÊ ÂœÂ?vĂŠ ÂœĂ•Ă€ĂƒiĂŠÂŤĂ€ÂœÂŤiĂ€ĂŒĂž UĂŠĂŠ >ĂƒĂŒĂŠÂœÂŤiĂ€>ĂŒi`ĂŠÂˆÂ˜ĂŠĂ“ääÂ™ĂŠĂƒi>ĂƒÂœÂ˜ĂŠÂ‡ĂŠÂŁnĂŠÂ…ÂœÂ?i]ĂŠÂŤ>ÀÊÇÓÊVÂœĂ•Ă€Ăƒi

UĂŠĂŠKamloops– 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

UĂŠĂŽÂŁxʳɇÊ VĂ€iĂŠ-ÂˆĂŒi UÊΙääʳɇÊ-¾°ĂŠ ĂŒ°ĂŠ Âœ}ĂŠ œ“iĂŠ UĂŠ ÂŤÂŤĂ€ÂœĂ?ˆ“>ĂŒiÂ?ĂžĂŠĂ“ĂŠÂŽÂ“ĂŠĂ€ÂˆĂ›iÀÊvĂ€ÂœÂ˜ĂŒ>}i UĂŠ Ă?ViÂ?Â?iÂ˜ĂŒĂŠv>À“ÊÂ?>˜`ĂŠÂœĂ€ĂŠĂ€iÂ‡ÂœÂŤiÂ˜ĂŠ}ÂœÂ?v Asking Price $1,200,000

NORTH OKANAGAN SELF STORAGE $300,000 PRICE REDUCTION UĂŠ ˆ}Â…ĂŠ Ă?ÂŤÂœĂƒĂ•Ă€iĂŠ ÂœV>ĂŒÂˆÂœÂ˜ UĂŠĂ“xnĂŠ1Â˜ÂˆĂŒĂƒ UĂŠ*Â?Ă•ĂƒĂŠnäĂŠ"Ă•ĂŒ`ÂœÂœĂ€ĂŠ-ĂŒÂœĂ€>}iĂŠ-ÂŤ>ViĂƒ UĂŠĂ“°Ă‡ÂŁĂŠ VĂ€iĂƒĂŠUĂŠ,ÂœÂœÂ“ĂŠvÂœĂ€ĂŠ Ă?ÂŤ>Â˜ĂƒÂˆÂœÂ˜ UĂŠ œ˜VĂ€iĂŒiĂŠLÂ?ÂœVÂŽĂŠVÂœÂ˜ĂƒĂŒĂ€Ă•VĂŒÂˆÂœÂ˜ UĂŠ >˜>}iĂ€ÂżĂƒĂŠĂ€iĂƒÂˆ`i˜Vi UĂŠ ° °ĂŠ/ÂœÂŤĂŠ£äĂŠ1‡ >Ă•Â?ĂŠÂ?ÂœV>ĂŒÂˆÂœÂ˜ĂŠ UĂŠ-iÂ?Â?iÀʓ>ÞÊV>Ă€Ă€ĂžĂŠÂ“ÂœĂ€ĂŒ}>}i UĂŠ Ă€ÂœĂƒĂƒĂŠf{nä]äää³Ă‰Â‡]ĂŠ iĂŒĂŠfĂŽĂŽä]äääʳɇ New Asking Price $4,695,000

UĂŠĂˆ°äәÊ VĂ€iĂƒĂŠUĂŠ,ÂœÂœÂ“ĂŠvÂœĂ€ĂŠ Ă?ÂŤ>Â˜ĂƒÂˆÂœÂ˜ UĂŠ"˜Â?ĂžĂŠĂˆĂŠ9i>Ă€ĂƒĂŠÂœvĂŠ"Â?` UĂŠ Ă€ÂœĂƒĂƒĂŠfĂˆĂŽx]äää³Ă‰Â‡

Asking Price $6,750,000

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INDUSTRIAL BUILDING – SUMMERLAND

UĂŠĂŠĂ“°Ăˆ{ĂŠ VĂ€iĂŠ-ÂˆĂŒiĂŠĂŠUĂŠĂŠĂŽä]äääĂŠĂƒ¾°ĂŠvĂŒ°ĂŠ-ĂŒiiÂ?ĂŠ Ă€>“iĂŠBĂ•ÂˆÂ?`ˆ˜}ĂŠ ĂœÂˆĂŒÂ…ĂŠĂˆ{nĂŠĂƒ¾°ĂŠvĂŒ°ĂŠÂœvwĂŠViĂŠĂƒÂŤ>ViĂŠUĂŠ Ă•ÂˆÂ?ĂŒĂŠÂˆÂ˜ĂŠĂ“ääÇÊÊUĂŠĂŠ<œ˜ˆ˜}ĂŠ >Â?Â?ÂœĂœĂƒĂŠÂ˜Ă•Â“iĂ€ÂœĂ•ĂƒĂŠÂŤiĂ€Â“ÂˆĂŒĂŒi`ĂŠĂ•ĂƒiĂƒ

Asking Price $1,650,000

$1,590,000

UÊÊKamloops – City centre main street, retail space for lease. 946 sq ft. $1202 per month plus HST & a portion of taxes. ÊUÊÊKamloops – INVESTORS – 8% Cap rate restaurant. Fronting E Trans Canada Hwy. Leased out. $8,000/mo triple net. $1,200,000 UÊÊKamloops – Busy city centre 180-seat restaurant. Owner wants to retire. $500,000 for business or $1,700,000 for business, building & land

Call MARVIN MATT ""*-ĂŠ, /9ĂŠ / °

9i>Ă€ĂŠĂ€ÂœĂ•Â˜`ĂŠĂŒÂœĂ•Ă€ÂˆĂƒÂ“ĂŠUĂŠ7ÂœĂ€Â?`ĂŠVÂ?>ĂƒĂƒĂŠĂƒÂŽÂˆÂˆÂ˜} -“>Â?Â?ĂŠĂŒÂœĂœÂ˜ĂŠVÂ…>À“ÊUĂŠ,ÂœVŽÞÊ ÂœĂ•Â˜ĂŒ>ÂˆÂ˜ĂŠ>`Ă›iÂ˜ĂŒĂ•Ă€i ÂœĂŒiÂ?ĂŠÂ…>ĂƒĂŠ ˜`ÂœÂœĂ€ĂŠ*œœÂ?]ĂŠ->Ă•Â˜>ĂŠEĂŠ ÂœĂŒĂŠĂŒĂ•L Âœ`iĂ€Â˜ĂŠĂ€ÂœÂœÂ“ĂƒĂŠUĂŠ7iÂ?Â?ʓ>ÂˆÂ˜ĂŒ>ˆ˜i` -Ă•LĂœ>Þà Ê­Â?i>Ăƒi`ÂŽĂŠÂœÂ˜ĂŠĂƒÂˆĂŒi *Â?Ă•ĂƒĂŠĂŽÂ‡L`À“Ê“>˜>}iĂ€ĂŠÂ…ÂœÂ“iĂŠ>ĂŒĂŒ>VÂ…i`

1-250-319-8784

Neil Frost 1.604.483.6345

mmatt@shaw.ca

FREE 24 HOUR RECORDED INFORMATION CALL 1-800-848-1615 & ENTER EXTENSION #1487

www.realestatekamloops.ca

250-615-7225 250-638-1400 TERRACE

21.8 ACRES – PRIME HOLDING PROPERTY UĂŠ ÂœĂ€Â˜iĂ€ĂŠĂƒÂˆĂŒiĂŠÂˆÂ˜ĂŠÂ…Âˆ}Â…ĂŠĂŒĂ€>vwĂŠV]ĂŠÂ…Âˆ}Â…ĂŠiĂ?ÂŤÂœĂƒĂ•Ă€iĂŠÂ?ÂœV>ĂŒÂˆÂœÂ˜ĂŠĂœÂˆĂŒÂ…ĂŠÂœĂ›iÀÊ£]äääĂŠvĂŒ°ĂŠ ˆ}Â…Ăœ>ÞÊÎÊ vĂ€ÂœÂ˜ĂŒ>}iĂŠÂŤÂ?Ă•ĂƒĂŠÂŁ]£ÇxĂŠvĂŒ°ĂŠĂƒiVœ˜`>Ă€ĂžĂŠĂ€Âœ>`ĂŠvĂ€ÂœÂ˜ĂŒ>}iĂŠUĂŠ/ÂœĂœÂ˜ĂŠĂƒiĂœiÀÊEĂŠĂœ>ĂŒiÀÊ>ĂŒĂŠÂ?ÂœĂŒĂŠÂ?ˆ˜i UĂŠ6iÀÞÊVÂ?ÂœĂƒiĂŠĂŒÂœĂŠÂ?>ÂŽiĂŠUĂŠ ˜VÂ?Ă•`iĂƒĂŠÂ…ÂœĂ•ĂƒiĂŠEĂŠÂœÂŤiĂ€>ĂŒÂˆÂ˜}ĂŠÂœĂ€VÂ…>Ă€` New Asking Price $1,995,000

davemateri.ca

5119 Eagle Place 150 feet of view side property overlooking the City of Terrace. Fruit trees and fence along the back yard are only part of what this exclusive culReduced to $113,900 de-sac property has to offer.

LAND – OSOYOOS – $400,000 PRICE REDUCTION!

Reduced to $427,500

4110 Temple St. Executive 5 bedroom home, immaculate in and out.Hot water heat, in-law suite, Hot tub off the master bedroom deck over the backyard and green space behind.

MOBILE HOME PARK – MERRITT UĂŠ ÂˆĂŒĂžĂŠĂƒiĂœiÀÊ>˜`ĂŠĂœ>ĂŒiĂ€ UĂŠ*Â?Ă•ĂƒĂŠĂŽĂŠĂ€iÂ˜ĂŒ>Â?ĂŠÂ…ÂœĂ•ĂƒiĂƒĂŠEĂŠÂŁĂŠDĂ•ÂŤÂ?iĂ? UĂŠ Â˜Â˜Ă•>Â?ĂŠ}Ă€ÂœĂƒĂƒĂŠÂˆÂ˜Vœ“iĂŠfÂŁĂˆx]äääʳɇ

Asking Price $1,595,000

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.

ProďŹ table 36-Unit Motel - Fernie, BC

DAVE MATERI

FORECLOSURE SALE

UĂŠĂ“äĂŠ-ÂˆĂŒiĂƒĂŠÂœÂ˜ĂŠx°nĂ“ĂŠ>VĂ€iĂƒ UʙÊ*>Ă€ÂŽĂŠÂœĂœÂ˜i`ĂŠÂ“ÂœLˆÂ?iĂŠÂ…ÂœÂ“iĂƒ UĂŠ Ă?ÂŤ>Â˜ĂƒÂˆÂœÂ˜ĂŠÂŤÂœĂŒiÂ˜ĂŒÂˆ>Â?

Claudette Edenoste Logan Lake Realty 250-280-0689

TERRACE INVESTMENT PROPERTY

427 UNIT SELF STORAGE FACILITY – VERNON UĂŠ ˆ}Â…ĂŠ Ă?ÂŤÂœĂƒĂ•Ă€iĂŠ ĂœĂžĂŠÂ™Ă‡ĂŠ ÂœV>ĂŒÂˆÂœÂ˜ UĂŠÂŁĂŽäʳɇÊ"Ă•ĂŒ`ÂœÂœĂ€ĂŠ-ĂŒÂœĂ€>}iĂŠ-ÂŤ>ViĂƒ UĂŠ/ÂœÂŤĂŠ+Ă•>Â?ÂˆĂŒĂžĂŠ-ĂŒ>ĂŒiĂŠÂœvĂŠĂŒÂ…iĂŠ Ă€ĂŒĂŠ >VˆÂ?ÂˆĂŒĂž

UÊÊChase, BC – Pub liquor store, restaurant on main oor. 14 rooms on 2nd oor which need substantial work reected in price.ÊÊSuper buy $600,000

A perfect investment property to sub-divide with friends or family. Perfect for outdoor enthusiasts. Located a few miles from Merritt B.C. at a dead end road. Out buildings and a greenhouse included. Make an offer today! MLS# 104309 $650,000

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 NEW PRICE $479,000

PENTICTON LAKEFRONT PENTHOUSE AMAZING VIEWS OF OKANAGAN LAKE & AVAILABLE IMMEDIATELY

2 BDRM + DEN NEW PRICE $1,499,000

OSOYOOS 3600 Sq Ft commercial building fully occupied in downtown Terrace. Next to the Best Western Hotel on a main through city street with much commercial and retail trafďŹ c. Roof is NEW and building in good condition. Asking $389,000

Call listing realtor for complete info package

GO TO davemateri.ca for a direct link to this listing

10 INCOME PRODUCING LAKEFRONT RV LOTS

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

monarkinvestments.ca

604-592-7250

Financing Available. Potential Trades.

B8 Northern British Columbia

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

PRINCE GEORGE

Waterfront

Two large waterfront properties Ideal for recreational / residential development Not in the ALR - Highway access 26 acres, approx 1450’ of lakefront $325,000 55 acres, approx 1650’ of lakefront $520,000

Subdividable 7.32 acres $545,000 excellent location along the Nechako River and only minutes to downtown approx 460’ of riverfront, nicely treed Riverfront townhome site $575,000 1.76 acres - approx 263’ of riverfront zoned RM1 - multiple residential preliminary drawings for 13 townhomes

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Elaine Kienzle 250

563-8769

www.elainekienzle.com

335 ) / , ) / * ) $ " )( ) &/ ) 5 " ) ) () " / )(( !)

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— Your PRINCE GEORGE Commercial Professionals — 1550 – 1st Ave.

4350 Handlen Rd – ‘Court Ordered Sale’

8% Cap Rate

5,525 sq ft concrete block building on .99 Acres. Zoned C-6.

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.

‘Grower Direct’

9080 Penn Rd.

High volume ‘Grower Direct’ franchise  ower shop.

FOR LEASE – 25,660 sq ft quality warehouse located in the Danson Industrial Park.

1921 Upland St.

1108 Boundary Rd.

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

FOR SALE & LEASE - 9,000 sq ft cement block building on 2 Acres, fenced compound. Building has been renovated & updated. Land has been graded for proper drainage. 3-phase power.

978 & 996 Central St.

9543 & 9565 Anzac Cres.

The Endako Hotel

508 George St. (REDUCED )

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

FOR SALE - 1.88 Acres. Zoned M-2. Industrial lots, cleared, level & serviced.

Historic Endako Hotel fully renovated 9 guest rooms plus large management suite. Updated bar & grill. ProďŹ table and located in the centre of Northern B.C.’s resource activity.

FOR SALE - 8,200 sq ft fully equipped 250 seat restaurant. Completely renovated & equipped.

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

2344 Westwood

2977 Ferry Ave.

1396 – 5th Ave.

FOR LEASE – 2,479 sq ft prime retail & professional ofďŹ ce space. High trafďŹ c area, visual exposure, parking and much more. Net Lease.

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.

FOR SALE - 0.8 Acres on corner of Ferry Ave. & Ospika Blvd. C-6 zoning.

FOR LEASE – 1,955 sq ft of professionally designed second-oor, top-quality OFFICE space. Gross rate lease.

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

GEORGE Weinand

250-960-9556

KEN Goss

250-565-7653

THINK REAL ESTATE...The Best Investment on Earth

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

*/7&45 */ %"840/ $3&&, #$

PRINCE RUPERT, BC FOR SALE OR LEASE UĂŠĂŠ ÂœĂœÂ?ˆ˜}ĂŠ>Â?Â?iĂžĂŠÂ‡ĂŠÂœÂ˜Â?ĂžĂŠÂœÂ˜iĂŠ ÂˆÂ˜ĂŠĂŒÂœĂœÂ˜ UĂŠÂŁĂ“]äääĂŠĂƒÂľĂŠvĂŒĂŠLĂ•ÂˆÂ?`ˆ˜} UĂŠĂŠ ÂˆĂŒVÂ…i˜]ĂŠL>Â˜ÂľĂ•iĂŒĂŠÂ…>Â?Â? UĂŠ"Â˜ĂŠÂœĂ›iÀÊ>Â˜ĂŠ>VĂ€iĂŠÂ?ÂœĂŒ

2 story 3 bedroom, 2 ½ bath Duplexes, each side is 1374 sq ft with 5 appliances, single car garage, window coverings, fully fenced on 4 ft, Styrofoam foundations, gas heat and hot water. Great revenue properties $249,900 per side. 4 duplexes (8 sides total) Contact: Kent Laverdure at 250-202-0182

UĂŠĂŠ ÂœV>ĂŒi`ĂŠ>ĂŒĂŠ>ĂŠĂƒĂŒĂ€>ĂŒi}ˆVĂŠ VÂœĂ€Â˜iĂ€ĂŠÂœÂ˜ĂŠĂŽĂ€`ĂŠĂœiĂƒĂŒ UĂŠ Ă€ÂœViÀÞÊ-ĂŒÂœĂ€i UĂŠĂŽĂŠ}>Ă€>}iĂŠĂœÂœĂ€ÂŽĂƒÂ…ÂœÂŤ UĂŠĂŠ*Â?Ă•ĂƒĂŠ£ä]äääĂŠĂƒÂľĂŠvĂŒĂŠÂœvĂŠĂŠ Ă›>V>Â˜ĂŒĂŠÂ?>˜`

For more information call Shama Vohora at: 778-245-1535 e: shamavohora@gmail.com Toll Free: 1-888-419-1909

Northern British Columbia B9

10 Unit Residential Townhouse Property. Potential to stratify units for resale. Gross potential revenue of $96,000/yr. Annual expenses: taxes $5,080, water/sewer $4,000, insurance $950. Reduced to $849,000 (sold in 2007 for $1,000,000).

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

& / ! #

0 1 # /2 # ! " 3-% 04- & 5

Approx. mortgage pmt. on $675,000 = $3,800/mo*

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

* Financing available O.A.C.

NORTHEAST BC REALTY Ltd.

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

“Investing Our Energy In The North�

Phone 250 785 4115

www.dawsoncreekrealestate.ca

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

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

Mini Storage Complex

FOR SALE - FORT ST JOHN BC 56,000+/-sf 257storage unit compound on 3.93 acres consisting of 2 large buildings.

In the centre of the City close to the traffic circle on Alaska Highway...1.55 acres of flat land with all new services to the property and bordered by 8th street and the paved roadway to the new apartment building. Excellent location, commercially zoned, $290,000.00 #129953 - 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

Multi-Unit Residential

CREEK

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

Sicamous, BC

!" # " $

Potential business growth can derive from the development of approximately 7,000sf of unused storage units on the 2nd floor of main complex. In addition, the adjacent 7.65 acres could be used for addiÇŚ tional RV storage, camping/picnic grounds, cold storage buildÇŚ ing units or held for future expansion!

#130083 - 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.

Total property size 11.58 acres directly off Alaska Highway within City Limits! ASKING $3.88 Million

MLSÂŽ N4504616

NO DROP INS

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

Call Ron for information package or to arrange to view

Look Here For

Your Next Investment Opportunity INVESTOR ALERT! New condo asking $219,000 leased out to an oilfield company for $2.500 month. This 2 bedroom with den unit comes with 6 appliances and is furnished, total of 1856 sq ft with full unfinished basement. HIGHWAY COMMERCIAL/INDUSTRIAL LAND Situated across from the EnCana event centre, Chances casino and new Holiday Inn this is a very desirable location. Total of three lots each approx 4.5 acres each, excellent visibility and access. 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.

MISSION - 7 ACRES - $779,900 REDUCED #129952 - 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 #130029 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 $169,000 #130010 - WELDING / MACHINE SHOP for sale Includes 12’ door, 13’ ceilings, 3 phase power, 23o Volt/400 amp service. Gravel yard, 100 sq. ft. ofďŹ ce with shower & bathroom. Fire hydrant, 2 overhead cranes. $260,000 #129257: 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. #130090 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. $425,000

#129593: 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.

#127545: NEW STRIP MALL has 4 available spaces left for lease, 1,750 sq ft each. Great location on 8th street between Tim Horton’s & The Brick. Lease rates start as low as $16/sq. ft Start your business here.

L A N D #129635: 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. #129877: 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 #127836: 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

WILL BUILD TO SUIT - AIRPORT ONE ACRE LOTS Developer has 3 one acre lots in a row at the airport with highway frontage...will build a 5000 - 7,000 sq, ft. pre-engineered steel shop, provide a graveled and fenced yard with a 5 year lease starting at $ 14.00 per sq. ft. for the shell. Also willing to build and sell to tenant #127066: LOCATION, LOCATION, LOCATION 0.74 acres at the intersection of 17 Street and Alaska Highway. Ideal location for strip mall, service station, etc. $295,000 #127441: 80 ACRES OF INDUSTRIAL LAND with highway frontage, railway tracks, water and sewer in the City of Dawson Creek. Asking $31,250 per acre

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 aws here - call today to view.

SOLD

ABBOTSFORD - 2.5 ACRES - $699,900 Located in the charming community of Arnold this diverse property will suit no matter what your needs are. All  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.

SOLD

IRON CREEK LODGE - HOT NEW PRICE !!! $638,888 50 Acres – Located at the B.C. Yukon border, on Iron Creek Lake which is stocked by the gov’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.

SOLD

3!,-/. 6!,,%9 2!.#( s 02).#% '%/2'% !#2%3 Located 15 minutes east of Prince George, this fertile and picturesque ranch borders the Salmon River. Large acreages like this located close to major city centers are hard to ďŹ nd. Perfect opportunity to raise any kind of livestock and/or grow crops. Much of the land is already producing and fenced. Priced to sell - don't miss this opportunity to invest in your future. Call for more information.

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

B10 Northern British Columbia/Alb erta

FORT ST. JOHN UÊÇÊ Â?`}ĂŠĂŠ*ÂœĂ€ĂŒvÂœÂ?ÂˆÂœĂŠÂ‡ĂŠ/ÂœĂŒ>Â?ÊÇÇÊÀiĂƒ°ĂŠĂ•Â˜ÂˆĂŒĂƒ UĂŠ Â?Â?ĂŠLĂ•ÂˆÂ?`ˆ˜}ĂƒĂŠÂœÂ˜ĂŠ ÂˆĂŒĂžĂŠĂƒiĂ€Ă›ÂˆViĂƒ UĂŠ*Ă€ÂœviĂƒĂƒÂˆÂœÂ˜>Â?Â?Þʓ>˜>}i`ĂŠvÂœĂ€ĂŠĂži>Ă€Ăƒ

PRICE: $69,500ĂŠÂŤiĂ€ĂŠĂ•Â˜ÂˆĂŒ

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

FORT. ST. JOHN IDEAL FOR SMALL BUSINESS!

9620 - Sikanni Road

8219/8223 - 93rd Street

2000 sq. ft. bay with front reception, ofďŹ ce and mezzanine. Shop consists of radiant heat, 14’ overhead door, main door + a oor drain. $14.50/sq ft + Triple Net

Warehouse/ofďŹ ce avail. Sept 1/11. Drive through 14 x 16 overhead doors w/electric openers, 9 x 15 ofďŹ ce. $14.50/sq ft + Triple Net - MLS# N4504927/4504928

MLS# N4504937

INVESTORS ALERT!

A RARE FIND!

ĂŠ

2 - 2160 SQ FT SPACES FOR LEASE

10433 - 269 Rd 7000 sf building offers 1000 sf of ofďŹ ce/reception & 6000 sf of shop space ,4-16’ O/H doors & 1-14’ O/H door, 17’ ceiling, 200 amp service, just under 1 acre of land. $869,900 - MLS# N4504751

RON BARTSCH cell 604.789.2296 ronbartsch@me.com

10123 - 100th Street A prime downtown location, right on 100th Street, just under 2500 square feet divided into 2 separate retail spaces, both sides currently leased $299,900

MLS# N4504949

INVESTMENT GEM!

OPPORTUNITY KNOCKING! 8224 - 93rd Street

• 45 Unit Motel Pincher Creek, Alberta - $2,590,000 • 8800 sqft Sublease ofďŹ ce - HighďŹ eld - Calgary • Alberta Multi-family buildings - 6 to 1500+ units • Restaurant & Bar - High River Alberta - $2.7M • Former School for lease 27,000 sqft S.E. Calgary • Live/Work in Inglewood - Newer Condo $394,000 • 33 Unit apartment building condo title - $3,465,000 • 5625 sqft Retail Building on 4 Acres - Langdon $1,495,000 • Prime Beltline Development Site Construction Underway $7,775,000 • Franchise Restaurants - Chicago Deep Dish Pizza - WOK BOX $299,000 • 4900 sqft Industrial / OfďŹ ce Condo N.E. Calgary - $595,000 • 1200 sqft Industrial Condo - N.E. Calgary - $290,000 • 24 units close to University, Childrens Hospital, LRT - $4M

1050 sq ft of ofďŹ ce w/ hardwood  oors. Front 4717 - 51 St., Chetwynd reception & display Fully occupied w/consisted ROI to the owner. Contains area & the shop with 3 bays, 1 is drive through/wash established businesses & a fully furnished 2 bdrm apart. bay. Radiant heat, mezzanine area, 14’ overhead doors. Torch on roof in 1999 & new ďŹ re system in Jan. 2011. Fenced compound all on city services.

$1,200,000 - MLS# N4504915

$879,000 - MLS# N4504836

KATHY MILLERCURTIS ROBINSON PERSONAL REAL ESTATE CORPORATION

Remax Action Realty 1991 Inc.

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

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

The Power Of Partnership!

INVESTMENTS CALGARY AREA

REVENUE OPPORTUNITIES

UĂŠ CARSTAIRS –Ê œ““iĂ€ÂˆV>Â?ĂŠÂ?ÂœĂŒĂƒĂŠvÂœĂ€ĂŠĂƒ>Â?iĂŠ PRICED TO SELLĂŠqĂŠV>Â?Â?ĂŠvÂœĂ€ĂŠÂ“ÂœĂ€iĂŠ`iĂŒ>ˆÂ?Ăƒ

VISIT OUR WEBSITE AT: www.calgaryland.net

UĂŠ COMING SOON!ĂŠ Ă€ÂœĂƒĂƒvˆiÂ?`ĂŠ ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ĂŠÂ?ÂœĂŒĂƒ

$"-("3: "3&" %&7&-01.&/5 -"/%4 ROCKY MOUNTAIN HOUSE Golf Course, Campground and Development Land. 303 Acres, Zoned Recreational $3.79 Million ROCKY VIEW 160 Acres on Country Hills Boulevard $5.6 Million EAST CALGARY - 17TH AVE SE 160 Acres near Stoney Trail $20 Million EAST CALGARYY - 84 St. NE near Stoney 160 Acres ne ar Sto ney Trail Million $32 M illion EAST CALGARY - 17 Ave SE 13.52 Acres Stoney Trail Frontage $6.76 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

KEVIN MOORE (403) 617-2846

IN COLD LAKE PRICE $525,000 FULLY OCCUPIED

UĂŠTrailer ParkĂŠÂŁĂ“ĂŠĂ•Â˜ÂˆĂŒ]ĂŠÂŤÂ?Ă•ĂƒĂŠĂ‡ĂŠĂ€iĂƒÂˆ`iÂ˜ĂŒÂˆ>Â?ĂŠ Â?ÂœĂŒĂƒĂŠqĂŠiĂ?ViÂ?Â?iÂ˜ĂŒĂŠV>ĂƒÂ…ĂŠvÂ?ÂœĂœ UĂŠ AIRDRIE qĂŠxäääĂŠĂƒ¾°vĂŒ°ĂŠÂˆÂ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ĂŠL>ÞÊ vÂœĂ€ĂŠĂƒ>Â?iĂŠĂœÂˆĂŒÂ…ĂŠÂ“>ÂŽiĂ•ÂŤĂŠ>ÂˆĂ€ĂŠĂ•Â˜ÂˆĂŒĂŠEĂŠÂˆÂ˜viÀÀi`ĂŠ Â…i>ĂŒiĂ€Ăƒ UĂŠ 2500 sq. ft.ĂŠÂˆÂ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ĂŠL>ÞÊvÂœĂ€ĂŠÂ?i>Ăƒi UĂŠ 137 acres ĂŠÂˆÂ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ĂŠÂ?>˜`ĂŠ>˜˜iĂ?i`ĂŠÂˆÂ˜ĂŒÂœĂŠ

Ă€ÂœĂƒĂƒvˆiÂ?`]ĂŠĂƒiĂ€Ă›ÂˆViĂƒĂŠVÂ?ÂœĂƒiĂŠLĂž]ĂŠĂ€i>`ĂžĂŠĂŒÂœĂŠ LiĂŠ`iĂ›iÂ?ÂœÂŤi`ĂŠqĂŠiĂ?ViÂ?Â?iÂ˜ĂŒĂŠÂŤÂœĂŒiÂ˜ĂŒÂˆ>Â? UĂŠ 141 acres ĂŠ>˜˜iĂ?i`ĂŠÂˆÂ˜ĂŒÂœĂŠ Ă€ÂœĂƒĂƒvˆiÂ?`]ĂŠ iĂ?ViÂ?Â?iÂ˜ĂŒĂŠÂŤÂœĂŒiÂ˜ĂŒÂˆ>Â?

GREAT

UĂŠ 132 acres ĂŠ highway #2 frontage ]ĂŠ Ă“äĂŠ Â“ÂˆÂ˜Ă•ĂŒiĂƒĂŠÂ˜ÂœĂ€ĂŒÂ…ĂŠÂœvĂŠ >Â?}>ÀÞÊqĂŠV>Â?Â?ĂŠĂŒÂœ`>Ăž

LOCATION/REVENUE

UĂŠ 279 acres ĂŠÂ?ÂœV>ĂŒi`ĂŠÂ˜iĂ?ĂŒĂŠĂŒÂœĂŠ Ă€ÂœĂƒĂƒvˆiÂ?`ĂŠqĂŠ ÂŤÂœĂƒĂƒÂˆLÂ?iĂŠ`iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒĂŠÂŤÂœĂƒĂƒÂˆLˆÂ?ÂˆĂŒÂˆiĂƒĂŠ É-

LOT. 16,800 SQ.FT.

1.1 ACRE PAVED

INCLUDING 2,000

UĂŠ ž acreĂŠÂˆÂ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ĂŠÂ?>˜`ĂŠvÂœĂ€ĂŠÂ?i>Ăƒi UĂŠ 137 acres ĂŠĂœÂˆĂŒÂ…ĂŠÂ›Ă“ĂŠÂ…Âˆ}Â…Ăœ>ÞÊvĂ€ÂœÂ˜ĂŒ>}iĂŠqĂŠ iĂ?ViÂ?Â?iÂ˜ĂŒĂŠ>VViĂƒĂƒ

SQ.FT. MEZ/OFFICE.

LAND & BUILDING ONLY

$1,175,000

UĂŠ East Balzac ĂŠ q ĂŠ ĂŠ Âœ v ĂŠ > Â? } > Ă€ Ăž ĂŠ q ĂŠ ÂŁ x ÂŁ ĂŠ >VĂ€iĂƒ]ĂŠÂŁĂ“xäĂŠĂƒ¾°vĂŒ°ĂŠLĂ•Â˜}>Â?ÂœĂœ]ĂŠ{ä½ĂŠĂ?ĂŠnä½ĂŠ +Ă•ÂœÂ˜ĂƒiĂŒ UĂŠ BEISEKERĂŠqĂŠĂ“°Ă‡ĂŽĂŠ>VĂ€iĂƒĂŠÂˆÂ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ĂŠÂ?>˜`]ĂŠ vi˜Vi`ĂŠEĂŠ}Ă€>Ă›iÂ?i`]ĂŠÂŤĂ€iĂƒiÂ˜ĂŒÂ?ĂžĂŠĂ•Ăƒi`ĂŠvÂœĂ€ĂŠ ĂƒĂŒÂœĂ€>}iĂŠPRICED TO SELL

4-PLEX FULLY OCCUPIED

UĂŠ 320 acresĂŠiĂ?ViÂ?Â?iÂ˜ĂŒĂŠv>À“Â?>˜`ĂŠqĂŠĂ“äĂŠ Â“ÂˆÂ˜ĂƒĂŠ ĂŠÂœvĂŠ >Â?}>ÀÞ UĂŠ 151 acres ĂŠ i > Ăƒ ĂŒ ĂŠ Âœ v ĂŠ ˆ Ă€ ` Ă€ ˆ i ĂŠ q ĂŠ ĂŠ PRICED TO SELL

PRICE $519,000

UĂŠ Goalie Equipment & Development Ă•ĂƒÂˆÂ˜iĂƒĂƒĂŠ ÂœĂ€ĂŠ->Â?i For more information on these and other properties

call

DON SACKETT RE/MAX ACA REALTY

XXX DBMHBSZMBOE OFU

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

4-PLEX

U 64 seat restaurant ĂŠÂˆÂ˜ĂŠv>ĂƒĂŒĂŠ}Ă€ÂœĂœÂˆÂ˜}ĂŠ VÂœÂ“Â“Ă•Â˜ÂˆĂŒĂžĂŠÂ˜ÂœĂ€ĂŒÂ…ĂŠÂœvĂŠ >Â?}>ÀÞ]ĂŠÂŤĂ€ÂˆViĂŠ ˆ˜VÂ?Ă•`iĂƒĂŠÂ?>˜`]ĂŠLĂ•ÂˆÂ?`ˆ˜}ĂŠEĂŠiÂľĂ•ÂˆÂŤÂ“iÂ˜ĂŒ

(403) 946-5657 ACA Realty

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

RE/MAX Cold Lake 2000

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

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

Recreational Real Estate HOT PROPERTIES B11

RECREATION FEATURE Death of her partner-husband didn’t derail plans for a luxury Panama golf resort

$BMHBSZ CPSO XJEPX SBJTFT TUBLFT JO QBSBEJTF FRANK O’BRIEN

'BDUT PO 1BOBNB

WESTERN INVESTOR

Population 2.4 million; nearly half live in Panama City Currency U.S. dollar is legal tender Language Spanish, but most speak English Economy GDP growth rate of 7.5 per cent (2010) Biggest asset Panama Canal, now undergoing a $5.3 billion expansion to complete in 2014

hen her husband and business partner died of a heart attack last year, Calgary-born Colleen Lal could have returned to Canada and let go of the 850-acre luxury golf resort the couple were building in the Panama highlands.

Not a chance. Instead, Lal has raised the stakes, pushing the completion of an 18-hole championship golf course and increasing prices and quality of the resort homes that anchor the multi-million dollar Cielo Parasio (Cloud Paradise) at Boquete, 340 miles from Panama City. A decade ago, Lal and her husband,Raideep Lal, a Toronto-based manufacturer, paid $200,000 for an abandoned 65-acre coffee plantation. They built a home and settled in for what was to be an early retirement. That soon ended when they recognized the potential for a resort development in a country named the world’s top retirement haven by International Living magazine and Forbes. The American Association of Retired Persons also ranked Boquete as the third-best place to retire on the planet. Panama, with one of the strongest economies in Latin America, is becoming an international business, resort and retirement destination. It has the second-highest concentration of banks in the world, high-speed Internet even in the back country, world-class hospitals and is home to thousands of ex-pats, including many Canadians. The $5.4 billion expansion of the Panama Canal has made Panama City one of the hottest real estate markets in the Americas.

PhotoS: Gladstone Development

8

(ABOVE) Villas at Cielo Parasio start near $400,000 and soar above $1.3 million. (INSET) The late Raideep Lal and wife Colleen at Cielo Parasio in the Panama highlands.

5BY GSFFEPN

Enticing investors is the fact that in Panama foreign real estate buyers have the same rights as the country’s residents. Landowners are not charged property taxes for up to 20 years and seniors qualify for discounts as high as 50 per cent on everything from closing costs for home loans to meals and entertainment. Also, Panama residents are not taxed on any foreignearned income. The Lals have invested over $20 million to develop the homes, hotel and the just-opened J. Michael Poellot Championship Golf Course at Cielo Parasio. The resort is about a half-hour drive from the Pacific Ocean and an hour from the Caribbean. It is surrounded by hiking trails and, since it is being developed on pasture and

WAT E R F R O N T P R O J E C T Shuswap Lake UĂŠ iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒĂŠ*iĂ€Â“ÂˆĂŒĂŠ>ÂŤÂŤĂ€ÂœĂ›i`ĂŠvÂœĂ€ĂŠĂˆÂŁĂŠĂ•Â˜ÂˆĂŒĂƒ UĂŠ ÂľĂ•ÂˆĂŒĂžĂŠÂˆÂ˜Ă›iĂƒĂŒÂœĂ€ĂŠĂ€iÂľĂ•ÂˆĂ€i`

farmland, few trees had to be cut down. “Thirty per cent of our buyers are from Canada, including some from Calgary and Vancouver,� said Lal, who is clearly refocusing the resort at higher-income international buyers. She is proud to add that nearly all of the buyers are residents, either year-round or for most of the year. “This is not a rental community,� she said. Other buyers primarily are from the U.S., Europe and Latin America.

'MJHIU UP RVBMJUZ

Last year, Cielo was promoting building lots as low as $100,000 and villas from $150,000, but Lal is convinced that the globe-trotting buyers she is courting are more concerned with luxury and amenities than price.

As a result, the typical new 2,300-squarefoot villa now sells for around $400,000 and some custom homes are priced as high as $1.3 million. Smaller duplex-style townhomes start at $300,000. Most of the foreign buyers, Lal said, are paying cash or have arranged financing. So far, Lal’s company, Gladstone Development, has sold more than three-dozen villas and has at least 30 homes under construction. Lal has hired an international team of architects and planners, as well as many locals, to finish the Cielo Parasio, and she admits there are challenges for a woman entrepreneur in Panama. The country is ranked as one of the most competitive economies in Latin America and Transparency International scores Panama a scary 3.6 out of 10 on the corruption scale (Canada, as a comparison, scores an 8.9). “I have never paid a bribe because, if you open that door, it will never close,� Lal said. She also shrugs off any problems as a woman doing business in a macho-minded country. “I have proved myself,� she said.◆

FOR SALE AUTOMOTIVE PARTS STORE KITIMAT, B.C.

ÂŁĂŽÂŁĂŠ >Ă€LÂœĂ•Ă€vĂ€ÂœÂ˜ĂŒĂŠ Ă€° ->Â?Â“ÂœÂ˜ĂŠ À“]ĂŠ ° °

UĂŠ7iÂ?Â?ĂŠiĂƒĂŒ>LÂ?ÂˆĂƒÂ…i` UĂŠ `Â?œˆ˜ˆ˜}ĂŠ£ää½ĂŠĂ?ĂŠÂŁxä½ĂŠÂ?ÂœĂŒ UĂŠ*Ă€iĂƒiÂ˜ĂŒÂ?ĂžĂŠĂ“ĂŠĂƒĂŒÂœĂ€ivĂ€ÂœÂ˜ĂŒĂŠĂ€iÂ˜ĂŒ>Â?ĂŠÂˆÂ˜Vœ“i UĂŠ7ÂœĂ•Â?`ĂŠÂ?ˆŽiĂŠĂŒÂœĂŠĂƒiÂ?Â?ĂŠÂŤ>VÂŽ>}iĂŠ`i>Â?

>Â?Â?ĂŠvÂœĂ€ĂŠÂ“ÂœĂ€iĂŠÂˆÂ˜vÂœĂ€Â“>ĂŒÂˆÂœÂ˜]ĂŠ

Contact: cdn@sunwave.net or 250-804-3039

Gerri SaundersĂŠJĂŠ(250) 632-2107ĂŠÂœĂ€ĂŠ(250) 632-6638

AN EXCELLENT

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

BUSINESS

-

OPPORTUNITY Orca Inn , Alert Bay, Cormorant Island, B.C.

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 www.lakeshorecampground.com

THE MAPLES ON SPROAT LAKE - from $389,000 + HST

This semi-waterfront Inn has been extensively renovated by the current owners. The property is free hold with unobstructed views of Broughton Strait and East coast of Vancouver Island. Includes owners suite, 5 hotel rooms, 45 seat restaurant, 35 seat pub, and cold beer and wine store. Liquor licenses are assumable with government qualiďŹ cation. $450,000 Canadian

250-390-4290 250-667-4290

-

24-unit strata-titled development Brand new vacation homes, 5 oor plans Spacious, private decks, appliances included Beach, trails, boat slip, large dock All the beneďŹ ts of Sproat Lake without the cost! www.maplesresort.ca

DAVE KOSZEGI REALTORÂŽ

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

+ HST

B12 Recreational Real Estate HOT PROPERTIES sss

www.westerninvestor.com SEPTEMBER 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`

CLAM BAY OCEANFRONT FARM PENDER ISLAND, BC

GARDEN BAY OCEANFRONT SUNSHINE COAST, BC

UÊ £äÓÊ>VÀiÃÊÜ Ì Ê¤Ê iÊ Vi> vÀ Ì UÊ ,ià ÀÌÊÀiÌÀi>ÌÊEÊÜ À }Êv>À UÊ £äÊ>VÀiÊ6 iÞ>À`ÊEÊÎäÊ>VÀiÊ«>ÃÌÕÀi UÊ >À}iÊL>À ]ÊÇÊ}ÕiÃÌÊV ÌÌ>}iÃ]Ê iÀ Ì>}iÊ i UÊ > ÊLi>V ÊEÊÓääÊvÌÊ«À Û>ÌiÊ` V UÊ " ViÊ Ê>Ê viÌ iÊ «« ÀÌÕ ÌÞtÊ$4,995,000

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WATERFRONT RETREAT 100 MILE HOUSE, BC

UÊ +Õ> ÌÞÊ }Ê iÊ ÊÈÇÊ>VÀiÃÊ UÊ ¤Ê iÊ vÊà Ài iÊ Ê/>`Ê > i UÊ 6iÀÞÊ«À Û>ÌiÊÃiÌÌ } UÊ À`iÀ }Ê À Ü Ê > ` UÊ i Vi`]ÊÌÀii`ÊEÊLi>ÕÌ vÕ UÊ /À « iÊ}>À>}iÊEÊ ÕÌLÕ ` }à UÊ $725,000Ê

Ê590 ACRES RURAL LAND W/ AIRSTRIP - NAZKO / QUESNEL

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2ICH /SBORNE RICH LANDQUEST COM

2ICH /SBORNE RICH LANDQUEST COM

+ONRAD - 3CHMID -EIL KONRAD LANDQUEST COM

2ON 3VISDAHL RON LANDQUEST COM

2ON 3VISDAHL RON LANDQUEST COM

158 ACRES SLOCAN

WATERFRONT ESTATE

150 MILE HOUSE RANCHER ON PRIVATE ACREAGE

RENTAL INVESTMENT VAVENBY

NORWOOD RANCH COURTENAY

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NEW PRICES - THE POINT DENMAN ISLAND

120 ACRES - $199,000!!! 70 MILE HOUSE

OCEANFRONT LIVING INDIAN ARM - NORTH VAN, BC

PUB AND STEAKHOUSE QUESNEL, BC

RV SITES FROM $39,900 HOPE, BC

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CED

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SKEENA RIVER FISHING LODGE TERRACE, BC

GROUSE CREEK ACREAGES CLEARWATER, BC

GULF ISLAND OCEANFRONT SIDNEY ISLAND

1939 HERITAGE BOUTIQUE HOTEL POWELL RIVER, BC

BABINE NORLAKES STEELHEAD CAMP

UÊ£ Î Ê iÀ Ì>}iÊ ÕÌ µÕiÊ Ìi Ê UÊ ÊÀ Ã]Ê ii«iÀÃÊÀià `i Vi]ÊÀiÃÌ>ÕÀ> ÌÊ UÊÊ V>Ìi`Ê ÊÌ iÊ ÞÊ`ià } >Ìi`Ê >Ì > Ê iÀ Ì>}iÊ ÃÌÀ VÌÊ Ê7iÃÌiÀ Ê > >`> UÊÊ Ê«iÀviVÌÊ viÃÌÞ iÊ «« ÀÌÕ ÌÞÊ Ê iÊ vÊ ½ÃÊv iÃÌÊV Õ Ì ià UÊ$519,000

UÊ *À v Ì>L iÊÌÕÀ iÞÊÜ À `ÊV >ÃÃÊi ÌiÊ v à }ÊLÕà iÃÃÊ Ê >L iÊ, ÛiÀ UÊ ÈÓäÊV >Ãà v i`ÊÀ `Ê`>ÞÃÊ­ > À ÌÞÊ vÊÌ iÊ Ì Ì> Ê> V>Ìi`ÊÌ Ê >L iÊ, ÛiÀ® UÊ >ÌÊ>VViÃÃÊ > ÊV> «Ê³ÊÃ>Ìi ÌiÊV> « UÊ } ÊÀ>Ì ÊÀi«i>ÌÊV i Ìi i UÊ $1,600,000

*ASON :ROBACK *AMIE :ROBACK

$ENIS $ORE DENIS LANDQUEST COM

$ENIS $ORE DENIS LANDQUEST COM

$AVE #OCHLAN DAVE LANDQUEST COM

$AVE #OCHLAN DAVE LANDQUEST COM

INDIAN ARM - COSY COVE OCEANFRONT - BELCARRA, BC

HUGE DEVELOPMENT ACREAGE NICOLA LAKE - MERRITT BC

THE HISTORIC JURA STOCK RANCH

DEVELOPMENT PROPERTY WITH 60 TITLES - FORT STEELE, BC

YOUR OWN PRIVATE HOT SPRING HALCYON POINT ESTATES, BC

UÊ iÛi «iÀÊÉÊ ÛiÃÌ ÀÊ> iÀÌt UÊÈäÊiÝ ÃÌ }ÊÌ Ì iÃÊ Ê£Ó°È£Ê>VÀià UÊ" ÞÊf£Î]ÎääÊÉÊ Ì UÊ > Ì>ÃÌ VÊÛ iÜÃÊ vÊÌ iÊ-Ìii« ià UÊ ` >Vi ÌÊÌ ÊÌ iÊ Ìi >ÞÊ, ÛiÀ UÊ Ài>ÌÊ } Ü>ÞÊiÝ« ÃÕÀi UÊ$798,000

UÊ V>Ìi`Ê ÊLi>ÕÌ vÕ Ê i ÌÀ> Ê Ìi >Þà UÊ ÌÃÊ>ÀiÊ¥ÊÌ Ê¤Ê>VÀiÊ ÃÊà âi UÊ >Ìi`ÊV Õ ÌÞÊÜÉÊvÕ ÊÃiÀÛ ViÃÊ UÊ*À Û>ÌiÊ ÌÊëÀ }Ê« Ê Êi>V Ê ÌtÊ UÊ ÃiÀÊÌ Ê > }>ÀÞÊÌ > ÊÌ iÊ- ÕÃÜ>« UÊÊ iÊÌiÃÌÊ ÕÌÊÌ iÊÜ>ÌiÀÃÊEÊÕ µÕiÊ «« ÀÌÕ ÌÞÊÊÊ$539,000

NEW L

UÊ/ÕÀ iÞÊ- ii >Ê, ÛiÀÊv à }Ê `}i UÊ > Ê `}iÊÜÉÊ}ÕiÃÌÊÀ Ã]Ê£{ÊV>L à UÊ Vi Vi`Ê` }ÊÀ ÉL>À]Ê Ü iÀÊÀið UÊ iÀV > ÞÊ Vi Ãi`Êà i ÕÃi UÊ"ÕÌLÕ ` }Ã]ÊL >ÌÊ >Õ V ÊEÊiµÕ « i Ì UÊ >Ãà v i`ÊÀ `Ê`>ÞÃÊ Ê- ii >ÊÓÊÊ UÊ °nnÊ>VÀiÃÊÀ ÛiÀvÀ ÌÊÊ$1,300,000

UÊ ,iVÀi>Ì > Ê iÀV > Ê< }Ê UÊ "«« ÀÌÕ ÌÞÊv ÀÊ`iÛi « i ÌÊ ÀÊ ÀiVÀi>Ì Êi Þ i ÌÊ UÊ ÓÊÃVi VÊ«À «iÀÌ iÃÊ i>ÀÊ7i ÃÊ À>ÞÊ *À Û V > Ê*>À Ê UÊ £äÊ VÀiÃ\ÊÊ$99,000Ê UÊ n{Ê VÀiÃ\ÊÊ$159,000

UÊ ,>ÀiÊ iÊ vÊ>Ê `Ê*À Û>ÌiÊ Ã > ` UÊ -> `ÞÊLi>V iÃ]Ê«À Û>ÌiÊ` V ÊEÊ> ÀÃÌÀ « UÊ -iÛiÀ> Ê Vi> vÀ ÌÊ«À «iÀÌ iÃÊÌ ÊV ÃiÊ vÀ UÊ >ÀiÊ > `Ê>VÀi>}iÃÊvÀ Ê$265,000 UÊ n°Î Ê>VÀiÃÊÜÉÓÊV>L ÃÊ>ÌÊ$1,250,000 UÊ -ÌÀ }Ê£]xÇxÊõÊvÌÊV > iÌ $1,095,000

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#AMERON 3TONE CAMERON LANDQUEST COM

UÊ ÌÌi Ì Ê iÛi «iÀÊÉÊ ÛiÃÌ ÀÃtttÊ UÊ Ó {ÊÃVi VÊ>VÀià UÊ Ó°xÊ ÕÀÃÊvÀ Ê6> V ÕÛiÀÊ UÊ VÀi` L iÊÛ iÜÃÊ UÊ *À Ûi ÊLÕÞiÀÊ`i > ` UÊ i à ÌÞÊ vÊÈÓÊÌ ÀiiÊL`À ÊiµÕ Û> i ÌÃÊ UÊ $2,995,000Ê 3AM (ODSON SAM LANDQUEST COM

UÊ >â }ÊÓ]ÈääʳÊ>VÀiÊÀ> V UÊ L ÛiÊ- > ii Ê, ÛiÀÊÜÉÊÛ>ÃÌÊÛ iÜà UÊ >Ãà ÛiÊÈä]äääÊ>VÀiÊ}À>â }Ê i>ÃiÊ UÊ >ÌÕÀ> Ê > iÃ]ÊVÀii ÊvÀ Ì>}iÊEÊÜ>ÌiÀÊ À } ÌÃÊ Ê Ã Ê Àii Ê UÊ £ÓäÊ>VÀiÃÊ vÊ ÀÀ }>Ìi`Ê } Ê«À `ÕV }Êv i `à UÊ $3,995,000Ê 3AM (ODSON SAM LANDQUEST COM

-ATT #AMERON MATT LANDQUEST COM

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Recreational Real Estate HOT PROPERTIES/Alberta B13

WESTERN INVESTOR SEPTEMBER 2011

4065)&3/ "-#&35" Commercial, 0110356/*5*&4 .68 ACRES ZONED C-H . - #VJMEJOH QMBOT BQQSPWFE PS DPVME CVJME UP TVJU UIF QVSDIBTFS 1SPQFSUZ JT BEKBDFOU UP .BKPS TIPQQJOH BSFB PG UIF DJUZ *EFBM GPS 3FUBJM 1SPGFTTJPOBM "VUP PS 3FDSFBUJPOBM 4BMFT 5SBGžD DPVOU

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Contact: Frank Hickey

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Call KEITH

LEES

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

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

westerninvestor.com

ALBERTA IS AGAIN MOVING! MOTELS & HOTELS

≼PROVOST Brand new 44 unit motel. Asking $4.5M ≼CAMROSE 20 unit motel, (nice Ma & Pa

operation) upgraded and very clean, Asking $1.1M. HARDISTY New 44 unit Motel. NAMPA, ALBERTAin busy boom town, 16 unit motel, 100 seat lounge, VLTs, liquor store and restaurant. PRICE REDUCED TO $990,000! CAMROSE ALBERTA68 room, full services Hotel. REDUCED - NOW $4.0M.

≼ FULL SERVICES63 Unit Motel with Rest., Pub, Liquor Store. Shows excellent Rev. Ask $7.7M

OTHER INVESTMENTS

≼ ≼

≼DAYSLAND Convenience store and Gas Bar.,

≼

≼

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

Mechanical shop, all located on a 1.5 acre parcel with residence. Shows good revenue. Asking $375,000. CAMROSE, AB2 Side by Side, newer 4 plexes. Fully leased. Asking $560,000 each

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

FOR SALE - On Bird River, MB

Approximately 80 minutes northeast of Winnipeg on the Bird River. This classic lodge is world famous for trophy bear and deer hunting. Located 1/4 mile from a Department of Transportation certified airport runway. Suitable for church camp, corporate retreat, training centre or private retreat. Commercial kitchen. Games room, sauna & conference room. Thirteen bedrooms, sleeps 27 plus master bedroom & ensuite. Approx. 6900 sq. ft. on +/-2 acres. Asking $1.85M.

Len Westwood Sales & Leasing Associate

Direct:

204-928-5008

len.westwood@dtzbarnicke.com

PH: 204-928-5000 • www.dtzbarnicke.com

Oceanfront, Lakefront, Riverfront, Ranches and Wilderness Investment Properties For Sale

Noralee Ranch

Price - $666,400

Historic 1120 acres of ranchland

Noralee Estates

Priced from - $33,600

Lake view acreages serviced with power

Caledonia Estates, Fort St. James Queen Charlottes, Haida Gwaii Priced from - $118,272 Fisherman's Hideaway - Riverfront acreages

5 acres serviced with power

Great investment area Priced from - $33,500

Go to WWW.NIHO.COM/WEST NIHO Land & Cattle Co. Ltd.

Toll-Free: 1-888-472-5364

Subscribe

Phone: 604-606-7900

1-800-661-6988

Email: sales@niho.com

westerninvestor.com

B14 Alberta

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

ALBERTA HAPPENINGS!

Rocky Mountain House, AB

MINI CASINO with 21 VLT'S located in Edmonton. 9,000 sq ft building with 2 restaurants and 2 lots. Will sell building and land or just the equipment and lease the building. IDEAL FAMILY BUSINESS General Store located 45 minutes from Edmonton. 6 businesses in one location. They are a Gas Bar, Coin laundromat, Liquor store, Grocery store, Restaurant and weather permitting a Ice Cream wagon. 2 story building with 1,650 sq ft 3 bedroom living quarters on the upper floor. Gross sales are over 2.2 mill. Asking $975,000. For more details and photos go to ICX.CA MLS #E1014458

Brian Fedorick Licensed Realtor in the Province of

Direct: 780-446-3125

Alberta A.L.L. Stars Realty Ltd

Office: 780-434-4700 bfedorick@shaw.ca

• FOR LEASE - 3600 sqft Commercial Retail Building • Corner lot with high exposure • Ideal for oil/gas industry suppliers or Safety Training and Sales • Great opportunity for new business or expansion

CALL IRWIN @ 403-844-1581 OR JAN @ 403-844-6849

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 •Development Sites: 8 to 160 acres; off highway 63 in Wandering River; last community before Fort McMurray; Judicial Sale •14 units; twelve 2-bdms, northeast; new roof and windows •17 units; central location; concrete construction; new roof and windows. •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 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/ sq. ft. CONTACT BURKE SMITH

burke.smith@cwedm.com

DEVELOPMENT OPPORTUNITIES +/- 19,701.20 SQ FT: Vacant serviced site

in NE Edmonton. Zoned CB1 (Low Intensity Business Zone) ......................................... $395,000 +/- 0.947 ACRES: in Valemount, BC. Zoned C3 (Service Commercial) ................................ $49,500 +/- 1.05 ACRES: in Valemount, BC. Zoned HC (Highway Tourist Commercial) .............$455,000 +/- 3.84 ACRES: in SW Edmonton, Zoned IB (Industrial Business) ............................. $3,500,000 +/- 1.85 ACRES: in NE Edmonton on 50th Street ............................................. $1,295,000 +/- 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

STETTLER MALL STETTLER, ALBERTA • ±91,403 sq. ft. on 10.21 acres anchored by The Brick, Peavey Mart and ATB • Just $65.00 / sq. ft. • Located in the heart of Alberta

WESTLOCK MALL WESTLOCK, ALBERTA • ±64,218 sq. ft. on 5 acres anchored by Peavey Mart and The Bargain Shop • $51.40 / sq. ft. • Attractive returns

CONTACT DAVID COONEY / DOUG FOGG OR HOWARD McCANN

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

FORT MCMURRAY • Former Fort Theatre • 36,400 sq. ft. site which includes a 14,500 sq. ft. building

CONTACT DOUG RAE

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

john.croft@cwedm.com

MERRITT, BRITISH COLUMBIA

• ±12,000 sq. ft. free-standing building for Sale or Lease • Includes bonus parking lot • Lease: $6.00/sq. ft. Sale: $850,000

CONTACT murray.osborne@cwedm.com or scott.sowinski@cwedm.com

FORMER WAL-MART MEDICINE HAT, ALBERTA

• High profile redevelopment opportunity • 12.95 acres / 100,287 s.f. building • $10,000,000

CONTACT HOWARD McCANN OR MARK McCANN

DUGGAN MALL, CAMROSE, ALBERTA

• ±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

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

B15

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

COVER Tight rental markets open opportunities for would-be landlords in urban Alberta and Manitoba

DAVE HUSDAL, CALGARY GEOFF KIRBYSON, WINNIPEG WESTERN INVESTOR hen Vancouver-based Bucci Developments opened the sales centre for its NEXT condominium project in Calgary this spring, half of the 162 suites sold out within weeks, encouraging Bucci to fast-track construction of the low-rise building. Homes were selling at a pace of one per day, according to NEXT marketing manager Shane Styles.

8

Big reasons for the fast sales are likely price and location: some buyers see the project as an ideal investment in a city where it is hard to get into one of the best landlord markets in the country. Prices for stud io apartments at NEXT started at just $166,707 and even onebedroom suites are priced below average resale condos in the surrounding Bridgeland neighbourhood in southeast Calgary. Styles said about 30 per cent of the NEXT buyers were investors. The Calgary Real Estate Board says the average condo price in the city this July was $286,445. “We priced to compete with resales,” Styles confirmed. Canada Mortgage and Housing Corp. (CMHC) is predicting Calgary multi-family housing starts will decline in 2011 by about 5.2 per cent to 3,300. “The reduction in multi-family starts in 2011

will be mainly due to the apartment segment,” according to the CMHC, which says the total inventory of new and unsold condominium apartments in the city is 614 units, down from the peak of 710 in August of last year. Calgary’s rental apartment vacancy rate is 3.6 per cent, but some say it is even tighter in some markets, particularly in the northwest, where new transit links and the University of Calgary keep the rental market hot. Investors can expect to pay from $123,000 to $135,000 per door for rental apartment buildings, but don’t expect to find many listed. This is why some investors are turning to condominiums as a way to get into the rental market. The vacancy rate for condominiums is around 5 per cent and typical rents for a two-bedroom condo are north of $1,100 per month. CMHC is predicting even higher rents in Calgary next year, saying: “The rise will help landlords and property owners offset some of the increase in maintenance and utility costs associated with maintaining a rental property. In 2012, the average two-bedroom rent is forecast to reach $1,120 per month.” Investors such as Canmore-based Wade Graham, whose Higher Ground Real Estate Investments Inc. is active in the Calgary residential rental market, see opportunities in Alberta’s largest city. “Right now there are properties out there that are fantastic [investments] in the multi-family realm as well as the single-family realm,”

“By the fall of 2012, the average two-bedroom apartment rent in Edmonton will hit an all-time high of $1,060 per month”

Photos: Kevin Udahl

3FTJEFOUJBM JOWFTUJOH

Shane Styles, Bucci marketing manager, at the NEXT condo construction site in Calgary (ABOVE), and with project model: half of the suites sold in weeks and a third of buyers were rental investors.

Graham said. Depending on location and specific properties, Graham says investors who do their homework can earn capitalization rates in the 6 per cent to 7 per cent range fairly easily. Real estate investment analyst Ozzie Jurock advises smaller investors in apartment buildings to scout for B properties because of the stiff competition from big players, such as Calgary-based Boardwalk REIT, for highervalued buildings. He said would-be landlords should also look at re-sale condos in the downtown, southeast or northwest because of improved transit and higher rental demand.

“The equity trajectory should be positive over the next four years and you should have no problem renting them out,” Jurock said. The situation in Edmonton is even rosier for residential investors. Edmonton landlords are poised to see a bump in their cash flows this year and into 2012, according to CMHC. “While rental starts should increase modestly this year, the new supply will not keep pace with the expected rise in demand,” CMHC predicted in its latest housing forecast for the Alberta capital. “By the fall of 2012, the average two-bedroom apartment rent [in Edmonton] will hit an

Please see Residential page B16

"MCFSUB

Paintearth Economic Partnership Society The Power of the Future is Here Today

www.castor.ca fort mcmurray

edmonton

36

• Located at highways 12 & 36 • Choice Highway Commercial and Industrial lots available • Two new residential subdivisions • Viable Farming Community rich in Oil & Gas resources • Excellent Senior's housing and Facilities • Great Education options Contact us today to find out how we can assist in expanding your business in the County of Paintearth

403-882-3211 or 1-888-882-3156 peps@paintearth.ab.ca www.paintearth.ab.ca

red deer

calgary

north bound

Crowfoot Crossing- Remembering Our Past, Building Our Future • www.crowfootcrossing-countypaintearth.ca

B16 Alberta DISCOVERY PLAINS, Olds, AB • 131.5 ACRE - 6 phased mixed-use dev. site • Excellent exposure to 50th St and Hwy 2 • Area Structure Plan unanimously approved (bylaw 2010-14) • See brochure at www.barrycommercial.com

Call / Email Karen at

403.589.5599 karen@barrycommercial.com www.barrycommercial.com

Commercial Propertyshop Inc. Brokerage

ATTENTION SELLERS! BEAUX Properties International is looking for Multi-Family units, Condo Conversions & Commercial Strip Malls For further info contact: Lorne Ryz 1-888-229-0007 Toll Free Email: lorne@beauxproperties.com

CENTRAL ALBERTA

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

3&4*%&/5*"- from B15 all-time high of $1,060 per month,” it said. It is clear that figure is not far away at this point. According to CMHC data, Edmonton’s average two-bedroom rent jumped to $1,029 per month in April, only $11 per month behind the traditionally more expensive Calgary. Edmonton’s average two-bedroom rent has increased $35 per month, or about 3.5 per cent in the past year. The rent hikes happened in a city where vacancy also fell to 4.7 per cent, and oilpatchrelated businesses such as welding and fabrications shops were picking up steam. Higher employment levels and increasing oilpatch activity will undoubtedly provide a boost to the Edmonton rental sector. While rents are heading up in Edmonton, CMHC is predicting multi-family housing starts for the capital region will decline slightly this year to 3,750, before bouncing up to 4,100 in 2012. Colliers International is upbeat about the Edmonton market, noting capitalization rates of 6.5 per cent to 7 per cent in some cases. The real estate giant says demand for apartment buildings is strong. “Demand continues to outstrip supply as buyers try to add assets to their portfolios at historically low interest rates. Alberta’s unemployment rate continues to lead the nation and quality product continues to trade at a premium, most notably, product built post 2000,” Colliers concluded.

CANMORE COUNTRY INN UNIQUE OPPORTUNITY! to run your own business with this beautifully appointed 12 beroom Country Inn. There is also a two bedroom manager's suite, plus a second suite, large common / dining room for guests, kitchen, exercise room and steam bath. Excellent mountain views, plenty of parking, come's fully furnished. DON'T MISS THIS!

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

or call

403-346-6655

The Realtors Association of Edmonton is also offer- -BOEMPSE MPPL BU UIF 1SBJSJFT ing data that suggest that the City Vacancy rate % Avg. “per door” cost* interest in potential rental Edmonton 4.7 $125,000 properties is growing. Calgary 3.6 $135,000 While Edmonton’s average Winnipeg 0.9 $90,000 residential price jumped only Brandon 1.8 $75,000 1.1 per cent from June to July Saskatoon 3.4 $85,000 2011, the average condo price Regina 0.9 $75,000 was up about 4.3 per cent in *Price per rental suite in older walk-up apartment buildings the same month. Its yearSource: CMHC/Avison Young/Western Investor over-year gain wasn’t quite so spectacular: the average condo price was the rental rates you can charge,” he said. up 2 per cent from August 2010. Based on the few recent sales, low-rise walkup apartment buildings in Winnipeg sell from .BOJUPCB $85,000 per suite, with capitalization rates in If you want to rent an apartment in Winnipeg the 5 per cent range. Larger concrete buildings or Brandon, good luck. If you want to buy an demand around $135,000 per suite. apartment building, you need even better luck. The average two-bedroom apartment rental The vacancy rate in Manitoba’s two biggest rate in Winnipeg is approximately $850 per cities is realistically near zero. In Winnipeg, it month. Sandy Trudel, the economic development has ranged between 0.7 and 0.9 of 1 per cent thus far this year and it hasn’t been much bet- officer for the City of Brandon, said that a ter in Brandon, at 1.3 per cent. These levels healthy market typically has a 3 per cen t essentially reflect turnover. vacancy rate. Over the past 15 years, however, But don’t expect a flurry of building activity Brandon has not been able to surpass 1.8 per cent. in either city to help meet the demand. Demand has been driven by a number of facDon White, executive vice-president of Colliers International in Winnipeg, said that tors, including new immigrants coming to town whatever apartment units do come on line will to work at Maple Leaf Foods. not be enough to support population growth in Mike Melnyk of Century 21 Commercial in Brandon said well-priced apartment buildthe city of more than 700,000. “It will be calculated and relatively slow to ings sell “with two or three phone calls.” Recent come on stream. The construction costs that prices are from $75,000 to $80,000 “per door” exist in the market are still very prohibitive to for older walk-up buildings, he added.◆

STUART CURRAN,

Associate Broker (403) 678-1005 Century 21 Nordic Realty Email: canmorecurran@gmail.com

130 SITE MOBILE HOME PARK In Booming community of Saskatchewan. No vacancies Room for expansion. High demand. Asking $4.4

Million Mt. Sentinel

Walter Tymofievich Realty Ltd. 250-487-1585 mt.sentinel@shaw.ca

WANTED! I have clients with CASH looking to purchase Shopping Centres, Strip Malls and Gas Stations in Alberta!

Call Sammy EMPIRE REAL ESTATE GROUP

780-906-6652

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

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Single and multi-family residential developments

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Commercial, industrial and retail developments

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Refinancing / acquisitions

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Construction / land servicing

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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.

CURRENT OFFERINGS • A Flagged Full Service Hotel, well located with highway exposure in a very diverse economic area, attested to by its continuously strong revenue performances; further, it currently has exceptionally good mortgage financing that may be assumed. The up-side potential of an investment is this Hotel is very good. Asking $30,000,000. • 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 significant degree of operational upside going forward. Asking $13,200,000. • A Flagged 102 Room Full Service Hotel well located in a prime commercial area of a dynamic city, the stellar performance of its operation is attested to by its continuous outstanding growth in revenues, plus substantial up-side potential. Asking $12,900,000. • A Flagged 95 Room Limited Service Hotel consisting of a variety of suites, well located with highway exposure and surrounded by a substantial number of conveniences, continued superb revenue performances that yield substantial N.O.I. that ultimately result in excellent return on equity and investment. Asking $13,900,000. • A Flagged Full Service Hotel, well located with highway exposure in a very diverse economic area, attested to by its continuously strong revenue performances; further, it currently has exceptionally good mortgage financing that may be assumed. The up-side potential of an investment is this Hotel is very good. Asking $29,000,000. • A Flagged 48 Room Limited Service Hotel featuring indoor Swimming pool among its other amenities, very well located on a service road that gives it highway exposure, outstanding Revenue/ occupancy performances. Asking $4,900,000. • 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 vehicle traffic count, priced for immediate sale at an asking price of $3,910,000. • Located in a very popular Ski Resort ANew Deluxe 2 - Bedroom Condo consisting of 2 bathrooms, fireplace, cable among the many other superb Features, plus the many amenities such as swimming pool, sauna, fitness 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.

Alberta B17

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

CAPITALIZE

ON EXPERIENCE BARCLAY STREET REAL ESTATE INVESTMENT OPPORTUNITIES FROM

i s

w fr e i

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m h c e

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FOR SALE

FOR SALE

OFFICE/RETAIL BUILDING

OFFICE BUILDING

SUNPARK PROFESSIONAL CENTRE

WESTSIDE PLACE

3UNPARK 0LAZA 3% #ALGARY !LBERTA

TH 3TREET .7 #ALGARY

s #LASS @! BUILDING

s /WNER USER INVESTMENT OPPORTUNITY

s 4HREE STOREY MULTI TENANT CONDOMINIUM TITLED OFFICE AND retail building

s ,OCATED ON THE SOUTHWEST CORNER OF TH 3TREET AND TH Avenue NW intersection. Ideally situated to take full ADVANTAGE OF TH 3TREET .7 WHICH SERVES AS MAJOR ARTERY CONNECTING #ALGARY S NORTH AND SOUTH

s UNDERGROUND AND SURFACE PARKING STALLS s ,OCATED IN 3UNDANCE "USINESS 0ARK WHICH HAS CLOSE TO SQ FT OF OFFICE AND RETAIL

s 4HE BUILDING HAS A GROSS FLOOR AREA OF SQ FT s REAR PARKING STALLS

For more information or to view, please contact: KELLY CARVER

RYAN SWELIN

P F

kcarver@barclaystreet.com

FOR SALE

For more information or to view, please contact: P F

rswelin@barclaystreet.com

3 STOREY APARTMENT BUILDING

FOR SALE

COMMERCIAL BUILDING

SITE: Âą5,798 SQ. FT.

1410 1ST STREET SW

TH 3TREET 37 #ALGARY !LBERTA

Calgary, Alberta

s &ULLY LEASED AND TENANTED

s 4HE PROPERTY IS IDEAL FOR AN OWNER USER OR CAN BE PURCHASED as an investment property to take full advantage of 1st 3TREET 37 WHICH SERVES AS A NEWLY DEVELOPED FASHION AND entertainment area of Calgary. s 4HE BUILDING HAS A GROSS FLOOR AREA OF SQ FT OVER THREE FLOORS. s :ONED ## #/2 n #ENTRE #ITY #OMMERCIAL #ORRIDOR $ISTRICT

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: EARL ADELMAN eadelman@barclaystreet.com

COMMERCIAL REAL ESTATE

SOLUTIONS

P F

For more information or to view, please contact: RICHARD LEWIS RYAN SWELIN

rlewis@barclaystreet.com rswelin@barclaystreet.com

Office, Retail, Industrial

Land, Investment

SALES AND LEASING

SALES

P F

Property Management

CALGARY OFFICE ƒ Suite 200, 407 – 8th Avenue SW Calgary, AB ƒ T2P 1E5 ƒ p: 403ƒ290ƒ0178 f: 403ƒ262ƒ1314 EDMONTON OFFICE ƒ 202, 2520 Ellwood Drive Edmonton, AB ƒ T6X 0A9 ƒ p: 780ƒ463ƒ3332

WWW.BARCLAYSTREET.COM

B18 Alberta

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

“The JEDI region offers Kimto Manufacturing a number of advantages including a good transportation network, a very low cost of doing business, and access to a broad range of skilled labour.” Jeremy Belb beck, Own ner/Partn ner Kimto Manuffacturin ng Ltd. Wetasskiw win n, AB

Contact JEDI for your best business advantage

(780) 361-6231 email info@jedialberta.com

www.jedialberta.com

C ITY OF WE TA SKIW IN • T OWN OF M I L L E T • C OUNT Y O F W ETA S KI W I N

Alberta B19

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

THE CITY

EDMONTON & AREA

Office Building For Sale. On Jasper Avenue and 114th street in the Oliver Area. 4 storey building consisting of 56,012 square feet . Property is on 3 lots (50 feet x 150 feet) with also parking lots (92 feet x 150 feet) in the rear. Property is wedge between two drugs stores (Shoppers Drug Mart and Medicine Shoppe). New developments all around. Asking $12,000,000.00

Unbelievable Ellerslie RE-Development Site Two Parcels. Both 2 acre sites on the northwest corner of Ellerslie Road and 66th Street. Parcel #1 Asking $2,900,000.00 Parcel #2. Asking $ 2,900,000 Ellerslie RE Development Site 80 acre parcel across from the new Edmonton Recreation centre along Ellerslie Road. Asking $8,900,000 Business and Property Esso Convenience Store/Gas Bar with a Tim Horton’s Lease. Located in new Centre West Business Park. Site is 2.03 Acres. Brochure will only be provided to qualified purchasers, and upon signing a confidentiality agreement. Asking $ 6,300,000. Pulse Pointe Development site Located in the Quarters project on 95th street and 102 Avenue. A total of 4 lots (14,200 sq. ft.) (142 ft frontage and 100 ft deep. Presently, building is 11,840 sq. ft. Asking $ 3,300,000.

Please Call

Bob Chinn

CAMROSE

Old Strathcona Building Located on Prime 82nd Avenue and 103 Street. Historical building. Building is 1650 sq. ft. of main floor with 12 foot ceilings. Asking $ 1,100,000.

THE REGIONAL CENTRE OF EAST CENTRAL ALBERTA

Industrial For Sale National Tenant, solid long term lease. Building is 4 years old, 56,000 sq. ft. on a 3.53 acre lot. Great return 6.5 % cap rate. Brochures to qualified clients Asking $ 9,900,000.

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

Land And Building For Sale. Over 9,000 sq. ft. on the main floor. Lot is 14,577 sq. ft. Located in the Quarters project on 95th St and 102 Ave. Building 101 Street Retail/Warehouse Property 9,150 sq. ft. building with over 4,000 sq. ft basement on two lots (10,680 sq. ft.) Great for future redevelopment or owner user. Building can also be leased. Asking $ 1,200,000.

or Mark Wilbert, Assoc. (mark.wilbert@century21.ca) CENTURY 21 A.L.L. STARS REALTY LTD

PH: 780-434-4700 Web: chinnproperty.com

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

OF

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

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

City of Wetaskiwin

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

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

Colliers Macaulay Nicolls Inc. 3555 Manulife Place, 10180 – 101 Street Edmonton, AB T5J 3S4

+1 780 420 1585 www.colliers.com Multifamily Opportunity

Accelerating success. Retail Investment Opportunity

15 UNITS PRICE REDUCED

14 UNITS PENDING

16,164 SF RETAIL BLDG

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

Edmonton, AB North location, new PVC windows, 12 - two bedrooms, upside on rents

15 UNITS AVAILABLE

50 UNITS SOLD

542-24 St., Fort MacLeod, AB Fort Plaza Fully leased to 5 tenants NOI - $162,323 Anchor tenants: Fields, Anderson Liquor, The Cash Store

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

Edmonton, AB All units above grade, large well maintained units, fire upgrades completed.

21 UNITS NEW LISTING

OLIVER SITE AVAILABLE

Edmonton, AB NAIT location, turnkey project, upside via LRT expansion www.colliersmn.com\edmontonapartments

Edmonton, AB 1/2 acre development site, LRT in close proximity, potential for 29 storey building, holding income

Amit Grover

Jandip Deol

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

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

Land & Building Opportunities 30,000 SF BUILDING

2-12,000 SF BUILDINGS

Ponoka, AB 7 acres, Highway 2 exposure

Edmonton, AB Calgary Trail, office/retail centre, for sale or lease, Stony Plain Road and central Edmonton for sale

24 ACRES Rimbey, AB Residential & commercial development on Highway 53

NEWER RETAIL STRIP MALL Edmonton, AB 3 buildings totalling 16,259 SF, south Edmonton, principles only

7,500 SF OFFICE Edmonton, AB Whyte Avenue (82nd ave), for sale or lease

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

HEALTHWORKS BUILDING PONOKA TOWNE CENTRE 10303 65 Avenue, Edmonton, AB 12,044 sf 2 storey office/ retail, frontage on Gateway Boulevard, Price $1,400,000

PONOKA LUBE-X BUILDING

5011-48 Avenue, Ponoka, AB 26,782 sf fully leased retail complex. The Bargain Shop, Medical Clinic, Pharmacy. Year I Income - $298,367 Price: $3,500,000

4714 - 50 STREET, PONOKA, AB OUTBACK STEAKHOUSE 2,512 sf freestanding building, BUILDING strong Covenant Tenant, 2874 Calgary Trail, Edmonton, AB Average Rental income - $69,500 7,063 sf freestanding retail pad. Price - $868,750 Net income: $190,701/year Price: $2,300,000

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

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

DAYS INN

BEAVERLODGE MOTOR INN Beaverlodge, AB Two hotels, 60 rooms, revenue of $4 mil. Asking $5,500,000

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

ECO PARK

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

10020 MACDONALD DRIVE Fort McMurray, AB Proposed office development on 36,400 SF lot, zoned C5, currently a movie theatre

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

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

INDUSTRIAL BAYS FOR SALE OR LEASE Ready August 1, 2011 occupancy Taiga Nova Eco Industrial Park

Fort McMurray, AB

Grande Prairie, AB New hotel, 90 rooms, improving occupancy. Asking $9,200,000 Drayton Valley, AB Limited service, 52 rooms, built in 2005. Asking $4,100,000

7 ACRES LAND

25.48 ACRES OF INDUSTRIAL LAND

Hotels

WEST COUNTRY INN

Fort McMurray Opportunities

DAYS INN Dawson Creek, BC Occupancy rate above 80%. 85 rooms. Asking $11,150,000

FLAGGED HOTEL Edmonton, AB Full service hotel. 90 rooms. Leased F&B. Asking $8,950,000

Located on Hwy 69 close to the planned airport terminal

KUUSAMO DEVELOPMENTS Fort McMurray, AB 5 bays sold or leased, only 5 bays remain

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

INDUSTRIAL BAYS Fort McMurray, AB 12,978 SF, for sale or lease

Ken Shebib MOB DIR

+1 780 863 7355 +1 780 881 6297

ken.shebib@colliers.com

Land Opportunities RED DEER LAND

CAMROSE LAKEFRONT LAND

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

+/- 100 acres Significant gravel deposit 823,820 cubic meters of proven aggregate reserves Price: $1,000,000

Mark Swaenepoel

Rick Argue

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

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

B20 Alberta

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

INDUSTRIAL SPACE - For Sale or Lease EDMONTON & AREA OPPORTUNITIES COMMERCIAL FORT MCMURRAY - Taiga Nova Industrial Park CAR WASH: Edmonton, 8 Bays, 1Auto, huge potential....................................................................$949,000 RUCK & CAR WASH: Edmonton, 4hr, 3 truck bay, 1 RV, 6 car wash, Over $1 mil sales/year, ......$3.75mil 13,000 to THOTEL CENTRAL ALBERTA: Right in downtown, 7 VLT's, Pub & Restaurant ...............................$550,000 CAMP GROUND & RV PARK: Edmonton, 30min., 10 acres under huge upgrader, best location, Liquor store, Gas Bar ...........................................................................................................................$2.9mil 52,000 MOTEL: Alberta South Big City, 3 years old Best Location, Over 1.5mil sales, Franchise ....................$7.9mil (Square Feet)

G 75% PENDIN • 4.44 Acre Site • Lease or Purchase Options • Experienced Developer & General Contractor • LARGE Rear Yard!

$BMM .JLF (FPSHF PS #JMM 4DIPFNBLFS OPPORTUNITY IS KNOCKING IN RED DEER!

Fall 2011

• 30' High Buildings

MOTEL: In Edmonton, Renovated, 39 Rooms, Over 800k sales, Private Manager's house .................$3.9mil GAS STATION: Edmonton 2.5hr, Brand new station -2 national franchise tenants, Huge Potential $3.75mil GAS STATION: Edmonton, 4 hr N of Edmonton, Brand Name Gas Station, $3M in store & $5M litre gas sale ...........................................................................................................................$6.5mil GAS STATION: Edmonton 30min., Franchise, New Equipment, Boom town, Car wash, $4.5 mil Sales ............................................................................................................................. ............................$1.89mil LIQUOR STORE: Edmonton 1.5hr, 20 years business owner retire, $900k average sales in 3 years$349,000 INVESTMENT: Edmonton, Business condo, 2900sf, Fully Leased, Good Potential ..........................$495,000

MORE LISTINGS ARE AVAILABLE PLEASE CALL www.property-solutions.ca

Cel: 780-722-2570 • Email: junchoi@live.ca

Strip Mall For Sale In Edmonton Fully leased 13,600 sq ft 65% Medical tenant all long term 15 to 20 yrs. Asking $3.5M

RAJIV SETH

• Great Location • High Visibility • Long Term Government and National tenants • 2 Parking Lots INCLUDED for Future Development • Currently 7.5 Cap

CENTURY 21 SIGNATURE REALTY 780-990-9799

HINTON,

$7.5 Million

A L B E R TA 20 km east of Jasper Park Gates

Glenn Moore Associate C21 Advantage Commercial

Phone: 403-318-8085

TRUCK & RV WASH

Email: glenn@advantagecommercial.ca www.reddeercommercial.com

116 Steele Crescent -

EDMONTON Apartments/Investments

3 tractor trailer bays & 6 wash stations – built in 2006 - Detail Bay, Retail Area, Mechanical Room - 2nd oor can be used as ofďŹ ces or living quarters

$2,300,000 MLSÂŽ #24589

APARTMENTS •21 Units,NAITArea..... $1,850,000 •22 Units,South............ $2,500,000 •15 Units, walking distance to NAIT, Strata Title not registered$1,500,000 •33 Units, 2 blocks to Grant MacEwan College, OFFERS ............$3,500,000

COMMERCIAL / INDUSTRIAL •2.75 ACRES Industrial land Northwest......................$1,375,000 •4 QUARTERS of land approx., 60 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

For Additional Information

Call LAWRENCE STEINKE & COMPANY REALTY LTD.

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

B&B/Teahouse McCracken Inn 146 Brookhart Street - 9 rooms, lobby/reception, restaurant, commercial kitchen, meeting room, laundry facilities - Managers’ living quarters with garage - Located along Hwy 16 - Zoned C3

THE TIME TO INVEST IN ALBERTA IS

NOW! •FAMILY RUN BUSINESS FOR SALE. Golf Course with Motel, Campground, 120 seat restaurant. Portion of operation open year open year round - 2 residences. •FABRICATION (WELDING SHOP) with buildings, land. Contracts, equipment currently employs 29 people. Excellent location. •INDUSTRIAL DEVELOPMENT LAND in greater Edmonton area. Huge potential for industrial land development •INDUSTRIAL & COMMERCIAL BUILDINGS

$998,000 MLSÂŽ #25003

Call

160 Drinnan Road - 6.72 acres of raw land IN TOWN

ZDENKA TURNER

1-877-986-4711

- Subdivision possible and in demand

$290,000 Exclusive

DENIS S. LORD 780-865-1200 / 780-817-9969 dlord@remax-2000.ab.ca

RE/MAX 2000 REALTY www.lordofhintonrealestate.com

Jun Choi for Details

YOUR ADVANTAGE IN ALBERTA FIRST CLASS HOTEL IN GREAT CITY •Asking: $27.5M, •Revenue is about $6M •Premium 176 guest rooms & suites around 1 acre garden court yard •8 meeting rooms/Banquet facility •Lounge and leased out restaurant & spa on 5 ac. of land SHOPPING PLAZA, HOTEL IN BIG CITY •Asking: $14.9M •REV:$2.3M: Hotel: $1,110,695; Rental: $513,253; Others: $669,734 •48 oversized rooms plus 20 tenants and other big rev. income source •Located in big city downtown core with 4.9 acres of land and 102,000 sq. ft. building. FRANCHISE MOTEL NEAR CALGARY •Asking: $13M, •103 room, 4 storey •Revenue: $2.3M (2011 - Projected $3M) •High visibility from hwy. •Business is increasing & the best location w/just 2 yrs old & growing MONEY MAKING FRANCHISE MOTEL •Asking: $11.2M •REV: $3,158,106 •3 yrs old, very busy location •Limited Service, 85 Rooms, located in very busy city LIMITED SERVICE FRANCHISE MOTEL •Asking $7.6M •3 years old, 4 storey, 60 rooms •Swimming Pool w/water slide •Situated with excellent exposure in big city, AB FRANCHISE MOTEL NEAR CALGARY •Asking: $5M, •41 room w/ leased Boston Pizza •1.5 Acres, ready to add 20 rooms. FRANCHISE MOTEL IN SOUTHERN ALBERTA •Asking: $4.99M •REV: $1,124,570 •Rev. is very steady past few years during recession •48 rooms with client base from Provincial & Federal employees, tourists and oil, gas & agriculture. MOTEL IN B.C. •Asking: $5.09M •REV: $1,373,000 •81 Rooms w/Leased Restaurant & Lounge •Waterslide, Sauna, Pool •Located Trans Canada highway with amazing view •Under renovation for Franchise ag HOTEL WITH RESTAURANT & LOUNGE •Asking: $4.99M •Located in very busy Oil, Gas, Forest & Tourism in AB •62 Rooms, 100 seat Restaurant, 110 seat Lounge, 9 VLT's TRUCK STOP & RETAIL SPACE IN CALGARY •Asking: $13.5M •Travel facility comprising 45,700 sq ft on a 16.6 Acre site, provides for future re-development •Strong sales with long history and 19 tenants including national brand name CAR WASH NEAR CALGARY •Asking: $3.89M •Revenue: $700,000 •7 bay and 1 auto. •Year: 2004. GAS BAR & C-STORE IN SK •Asking: $3.49M •REV: $7,300,000 •Well maintained Gas Bar w/5.2 ac of land •NOI:$700,800 RV SALES PROPERTY •Asking: $2.0M •Triple Net: $108,000, 5 yr and 5 yr option •4.23 Acres of Hwy commercial land with 7200 sq ft building •Located surrounding development area in central AB

MAXWELL

SOUTH STAR REALTY • www.leechoonho.com Coldwell Banker Haida Realty 5919 - 50th St, Leduc, AB T9E 6S7

780-986-4711

(Toll Free 1-877-986-4711) 780-986-6662 Fax

www.HaidaRealty.com

FRANCIS LEE, Associate Broker IC & I Full Commercial Member • Manager Business & Investment Div

For More Details

Tel: 403-253-5678

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

B21

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

SPOTLIGHT New multiplex, big-box retail, new condos signal development lull in resort town is ending

$BONPSF JT DBUDIJOH VQ DAVID HUSDAL

$BONPSF " #

"

Photo: Dave Husdal

WESTERN INVESTOR t $31.1 million, the development project drawing attention these days in Canmore is a reasonably

big one.

But it’s not the type of large condo resort that has characterized the community for the past decade. On the contrary, it’s a building meant for everyone – permanent residents, part-timers and the hundreds of thousands of visitors who descend annually on the Rocky Mountain tourist town an hour west of Calgary. The latest project is known as the Canmore Multiplex, which will host the town’s new aquatic centre, library and other public space when it opens in late 2012. Construction on the long-sought building started in early spring along Railway Avenue, one of the town’s main commercial drags. That is extra good news for Canmore folks whose livelihoods depend on construction and who have seen development picking up, albeit slowly. A Canadian Tire store – the first large-

Population 12,500 Average house price $525,000 Potential Tourism recovery, new developments

Canmore building permits are slowly improving after crash in condo market.

I think the confidence level is improving.� Kernick says traffic through the Spring tenant retail space added since 2003 – is also Creek sales centre has been brisk, but it’s still under construction along Railway, and vari- a buyer’s market, and sales take longer to close ous smaller townhouse and condo projects are than in the boom days of 2006. underway, or at least in the design stage. One of the town’s major developers,Spring #MBNF UIF 4JTUFST Creek Mountain Village, has two townhouse Canmore’s building-permit values for the first projects underway and is looking at a January six months of 2011 hit $48 million, surpassing 2012 start for an envisioned 120-unit complex $38.3 million for all of 2010 and $33.3 million that would offer luxury condos to seniors and for 2009. Still, the non-multiplex total was only assisted living accommodations in association $17 million to the end of June in a place where with United Active Living Inc. permit values surpassed $200 million two years Spring Creek developer Frank Kernick in a row in 2006 and 2007. said interest in Canmore from vacation-home Part of the reason for the slowdown is that buyers is on the upswing again, thanks to an the town’s largest developer, Three Sisters improved oilpatch in Alberta. Mountain Village (TSMV), has been in receiv“The market is chugging along. It’s like ership since February 2009. While some conCalgary. It’s not rocking, but it’s chugging along. struction continues on sold lots in the massive

development on the southwest side of the Bow Valley, TSMV’s lands valued at $169 million have yet to be sold off. A golf course only month from completion in 2008 sits idle and unfinished, as do a few less-prominent projects. PricewaterhouseCoopers, the receiver picking for Three Sisters, has yet to finalize a wildlife corridor agreement with the province, though it was successful in preventing the Town of Canmore from making municipal development plan changes that could have affected the value of TSMV assets. The town is moving ahead with an overhaul of its land-use bylaw, and could have a new document in place early this fall. Proposed changes include everything from rules to allow more secondary suites in a housing-scarce community to provisions to increase densities in some commercial and industrial neighbourhoods. The latter changes could see staff housing allowed above industrial shops. Expanding the South Canmore ban on monstersized homes is also proposed, as is a formula to encourage density bonusing for developers who include affordable housing in their projects. Still, builders are cautious. Noted development planner Alaric Fish: “Instead of getting a building permit for all 40 units in a development, they’re getting them for five units at a time.�◆

"MCFSUB

COMMERCIAL (RE/MAX Excellence)

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

BUSINESS ONLY zRV & Truck Wash - South Edmonton. Business Only - $399,000 zGas Station w/Convenience Store - South Edm. - $269,000

Edmonton’s Business & Investment Specialists

zSelf Storage Facility - 177 Units + 100 RV on 3.88 ac. - $2.1M

CALL MIKI O’REE AT 780.200.6454

CALL AYAZ OR SAM AT 780.641.1320

zSupreme Plating Business - w/property and inventory. 1.11 acres of prime property located in North Edmonton - $3.5M

zBottle Depot Businesses - FOUR Locations in AB. Call For Info BOTTLE DEPOT BUYING & ORIENTATION - BOOK NOW!

CALL GREG STEELE AT 780.945.7800

***CERTAIN CONDITIONS APPLY***

MULTI-FAMILY

CALL RAJAN NULLIAH 780.441.5419

zNEW Triplex - Excellent location. Built in 2007 - $1.298M z18 Units - Two building package. Strathcona - $130,000/Door z15 Units - West Edmonton - $100,000/Door z9 Units - South Edmonton - $110,000/Door z5 Units - Belgravia - Call For Info and Pricing

zCosmetic Store - Located in a busy mall w/ high foot traffic. Operating for over 16 years. - $179,900 + Inventory

CALL NEIL HORVATH 780.908.5630

INVESTMENT zOffice/Medical Centre - Leduc, AB. Fully leased - $1.7M z Nisku Multi-Tenant Bldg - Room for upside - $1.79M z18 Hole Golf Course - Central AB. Great Investment - $2.75M zRV Storage & Service - 8.87 ac w/7,362 SF buildings - $1.095M zGeneral Store w/Property - Outside Edm. Over $1M revenue. 2000 SF bldg on 0.345 acres. Excellent opportunity! - $595,000

CALL AYAZ OR SAM AT 780.641.1320 zSylvan Lake - Choice of 3 Est Motels. Beach facing & close to Marina. Priced at $1.7M, $2.2M and $2.635M zAuto Wash w/Land & Bldgs - Prime location in NE Edm - $3.5M

CALL RAJAN NULLIAH AT 780.441.5419 zGas Station, Grocery/Convenience & Liquor Store - Over $2M in sales.Land, Bldg and Business Included - $1.3M

CALL NEIL HORVATH 780.908.5630

CALL MIKI O’REE AT 780.200.6454

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

CALL ALLY PIRMOHAMED AT 780.604.0302

LAND z Nisku Land - 1 Lots. 1.83 acres. Zoned CS - PENDING z Nisku Commercial Land - 4 Lots. Zoned CS - Call For Info

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

w w w.RemaxComm.ca

B22 Alberta Pam Gill

(780) 455-4088

www.apartmentsinedmonton.com

EDMONTON

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INVESTMENT PROPERTIES FOR SALE! 15 UNIT APARTMENT, west end, all ones, many renos - 6.07 cap. Call for proforma 21 UNIT APARTMENT, in west central Edmonton. Pristine condition with many exterior, interior and landscaping upgrades. Mostly 1 bedrooms. MLS Listed $2,000,000. 23 UNIT APARTMENT, University area, nice condition and 5.75 cap. Call for proforma 13,231 SF, 5 BAY RETAIL STRIP MALL in Leduc, AB. with solid long term tenants. 9 years old. NOI: $154,000 per annum. 7.35 cap at $2,095,000. 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 $1,250,000 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!

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Businesses/Commecial Real Estate For Sale Gas Station, Car Wash – Land and Building Only for Sale. 3 Locations in Edmonton and surrounding areas available. Call for details. Financing Available. Truck Wash & Quick Lube, Hinton, AB – Business and Ppty for Sale. Great proďŹ ts and income. Only 5 years old. Sales of over $850k. Asking $500k for business. Land & Building for $2MM Laundromat, Spruce Grove – Business and property for sale. Asking only $380k. Commercial Real Estate Property with or without Businesses are available. Prices range from $400k to $5MM. Call for details and more information. Our properties are leased and provides good income.

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EDMONTON LAND 130 acres +/- zoned rural residential - 70% level grass & pasture, bal. woodland grazing. Presently decommissioned game ranch, cadillac fencing & livestock handling equip w/40x80 shop & living quarters. Could be livestock, cattle/ horses/exotics or private estate situated on twinned highway 5 miles west of West Edmonton Mall. Airstrip presently being developed, super grass, fencing, privacy or develop to suit market.

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APARTMENT BUILDINGS: ATTENTION: DEVELOPERS/BUILDERS: 40 Acres – Ready for Submission to Parkland County for Approval of New 8 Lot Subdivision. BONUS: 1 lot features Gorgeous 3,632 sq.ft. Executive Home with Triple garage & 2 Large Shops – an Excellent Base for the Developer/Builder! Across from 1 of the MOST Prestigious Subdivisions in County. Call for Details.

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Stelmach backs Edmonton arena

“S

teady Eddie” may be on his way out the door as Alberta’s premier, but not without offering hope to those looking for provincial cash for a new downtown Edmonton arena. After a meeting in late July with Edmonton Mayor Stephen Mandel, retiring Premier Ed Stelmach suggested Edmonton could have access to significantly more provincial infrastructure cash in the coming years under a program known as the Municipal Sustainability Initiative (MSI). MSI funds could be a ticket to cover at least part of the $100 million shortfall in financing for the new arena. The project is seen not only as a needed new building for the NHL’s Edmonton Oilers, but a key revitalization tool for downtown Edmonton. Stelmach noted Alberta’s economy is improving, as is the province’s revenue stream, but first-quarter figures for 2011-12 hadn’t yet been available when he met with Mandel.

Cold Lake tax debate heats up

T

here’s more saber rattling going on in northeast Alberta oilpatch municipalities these days, and it’s producing threats to curb development. Outspoken Cold Lake Mayor Craig Copeland used a late-July news release to blast not only the Regional Municipality of Wood Buffalo – Alberta’s biggest oilsands municipality and the home of Fort McMurray – but also that region’s MLA, Wild Rose Alliance member Guy Boutillier. Cold Lake officials are upset with Boutillier and their neighbours to the north for com-

ments made about the City of Cold Lake’s pitch for tax revenue from the air weapons range between Fort Mac and Cold Lake. Cold Lake officials maintain their community isn’t sustainable in the long term without tax revenue from oilsands installations beyond the city – such as those in the Municipal District of Bonnyville, on the air weapons range and in Wood Buffalo. After unsuccessfully pursuing dissolution into the M.D. a few years ago, Cold Lake has been looking for help from the province, but Copeland says Alberta’s assessment-rich “have” municipalities that collect millions of dollars in taxes each year from things like pipeline assessment need to give up some of their riches to make the system work better. “The City of Cold Lake has not seen the final proposal from the Province of Alberta, [but] dissolution into the M.D. of Bonnyville will definitely be back on the table if the funding situation does not change,” said a City of Cold Lake news release that quoted the mayor. “Furthermore, the City of Cold Lake will need to address the situation around infrastructure capacity throughout this community. If there is no funding to have infrastructure replacement or expansion, then the city will have to look at reducing services and capping any further development.” The Cold Lake-Bonnyville region is the second most significant oilsands region in Alberta, and home to several projects expected to put more pressure on Cold Lake as a regional service centre in northeast Alberta. A provincially mandated consultant’s review of Cold Lake’s operations and governance in 2010 found the city sustainable, but urged Cold Lake and its neighbours to work together.

Banff backtracks on fast-food rule

I

t seems fast-food franchises and souvenir shops are safe in Banff – for now. In its efforts to overhaul the town’s landuse bylaw, Banff town council decided in July that it won’t immediately wade further into regulation of businesses based on the products they sell or their franchise affiliations.

INDUSTRIAL LAND w/BUILDING FOR SALE

Asking $2,532,500 - Ponoka, Alberta

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11.55 acres, 8 individual lots with a 5000 sf unfinished panelized structure on Lot #10 (Lot #10 - 15 are 6 contiguous lots; Lots 19 & 20 are 2 contiguous lots) Located at 49th Street and 60th Avenue in the north Industrial Park within the town limits. Site is provided with all municipal services, and a railway spur connection to the main CPR line between Calgary and Edmonton. Recent rail crossing was completed by town of Ponoka. Excellent manufacturing site or stage area for Oil Sands or other Northern Industrial projects. Lots are for sale individually or as a whole parcel. Owner may sell entire parcel within the Corporation with tax loss advantage to purchaser. MLS# C1019384, C1019385, C1019387, C1019388, C1019389, C1019390, C1019391 and C1019392

Mary Yuen-Sears, Realtor SUTTON GROUP - CANWEST #1, 555 Hawkwood Blvd NW, Calgary, AB T3G 3K2 Cell: 403-616-3636 • Fax: 403-592-6912 Email: mary@calgarytagteam.com • www.calgarytagteam.com

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ears two years ago that downtown Calgary would be awash with vacant office space in 2012 seem a distant memory these days. That’s because the second quarter of 2011 featured the highest ever absorption rate for office space in the city’s downtown, according to Colliers International. That revelation, contained in the company’s latest downtown Calgary market report, is a positive economic indicator in a place where the commercial and residential real estate market has been steady at best and, for the most part, unremarkable. According to Colliers, the vacancy rate for downtown office space fell from 10.92 per cent for the end of March to 7.79 per cent at the end of June. Nearly 1.2 million square feet of space was absorbed in the second quarter downtown, bringing year-to-date absorption to 1.5 million square feet. Oilpatch clients were the big buyers of space, as one might expect. Rental rates are heading up and some landlords are holding off on renewals in the The new Bow tower – the tallest in suddenly tighter market, Colliers says. Even Calgary – is fully leased. completion of the city’s biggest office tower for two oilpatch giants isn’t expected to produce a glut of space next year – something that was forecast as late as two years ago. Noted Colliers: “A common question from tenants looking for space is ‘won’t there be a lot of office space in the market when Encana and Cenovus relocate to the Bow?’ … The answer is, ‘No.’ More than 60 per cent of their ‘backfill’ space has already been leased and much of the remaining vacancy is dispersed through B- and C-class sectors. Assuming projected rates of absorption, the vacancy rate is not expected to be any higher than it is now once the Bow is completed in 2012.” The class-A vacancy rate in Calgary is now 5.9 per cent, according toAvison Young, which is predicting higher lease rates for top space in 2012. Photo: Wikipedia

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Council defeated a vote on July 18 to regulate the location and/or number of souvenir and gift shops. It instead asked staff to return with a report comparing the mix of business offerings in 2001 and 2006 with 2011 to see whether or not the ratio of souvenir shops and formula fast-food businesses has changed over time. Some in the community feel franchise businesses – even a Canadian classic such as

JERRY RACZKOWSKI

the recently opened Tim Hortons – are eroding the traditional feel and character of the country’s most prominent national park community. While Banff allows fast-food franchises, it has long prohibited suburban staples such as traffic-snarling drive-thru windows. In Banff, drivers can’t fetch a double double or a Big Mac without leaving their cars.◆ – Compiled by Dave Husdal

ROB REGAN

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www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

REGIONAL ROUNDUP Saskatchewan’s third-largest city becoming a key northern service and retail hub

WESTERN INVESTOR hen average workers in Saskatchewan’s resource-rich north get some vacation time, often the first place they arrive on their way south is Prince Albert, the third-largest city in the province.

8

In the past, whether those workers stayed in Prince Albert during their downtime or headed another 140 kilometres south to Saskatoon was up for grabs. But Prince Albert, located in the north-central region of Saskatchewan, is increasingly becoming a destination itself rather than just a pit stop or refuelling point. With the city’s pulp mill set to re-open, diamond explorers sniffing nearby and a new swath of much-needed commercial land being made available, Prince Albert sees an opportunity to solidify its reputation as the gateway to Saskatchewan’s north. Whether it does so will depend on how well it contends with issues such as a diminishing downtown and a shortage of funding required to fulfil demand for new and serviced land.

amount of vehicle variety for northern shoppers as Saskatoon does. The second and more significant development is the 80-acre Cornerstone commercial area on the east side of the city. Edmonton-based Springwood Land Development Corp. first began developing Cornerstone’s north side in 2001. The north side includes Wal-Mart, Future Shop, Sobeys, Rona and a number of other name-brand retailers found at big-box power centres throughout Canada. The southern side of Cornerstone is now being developed, with a Prince Albert Co-op food store, Royal Bank, Michaels craft store and Original Joe’s among the new or slated tenants. “Cornerstone has confirmed that we are now a regional shopping centre,” said Braaten, who brokered the deal that saw Co-op move into Cornerstone. He has also been involved in the sale or lease of a number of other Cornerstone spaces. “Initially I thought Cornerstone would be bad for the community [because] you see longtime businesses being gobbled up by the big nationals,” said Braaten. “But now you’re finding that people from Nipawin, Melfort, Tisdale and Rosthern are [shopping] here instead of going to Saskatoon.” According to Springwood, the value of new developments in Cornerstone in 2011 is more than $19.5 million and includes around 114,000 square feet of new commercial space. A number of businesses that were once located downtown have moved to Cornerstone, raising concerns about the hollowing out of the core (commercial vacancy downtown stands at roughly 10 per cent). Vacant buildings aside, downtown Prince Albert, for many people, conjures up images of panhandlers and vagrants.

Industrial vacancy rate is near zero; levies rising

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Duane Braaten, owner of real estate brokerage Advantage Real Estate Services Inc., believes that two developments in particular have been integral in making Prince Albert a destination for businesses, workers and residents of other northern communities. Firstly, a crop of new auto dealers, including Mazda, Kia and Nissan, began arriving in the city five years ago (Braaten brokered the recent deal that saw Hyundai open here). Now, Prince Albert has almost the same

(TOP) Conceptual drawing of the Lakeview Estates in Prince Albert: homes in phase 1 being bought mostly by local retirees. (RIGHT) Prince Albert: sprucing up downtown and finding more land seen crucial as population swells.

The Prince Albert Downtown Improvement District Association, which began a downtown rejuvenation plan in 2005, paints a rosier picture of that area, saying that new businesses are giving the area a more “eclectic, pedestrian-friendly” feel. “Downtown has a lot of opportunity, but it’s an area that we need to work on,” said Yves Richard, the city’s planning manager.

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As of mid-May, the city had issued 16 per cent more building permits compared with the same time last year, and double that of 2009. Also as of mid-May, there was a 74 per cent increase in the number of new business licences issued in Prince Albert from the same time frame in 2010 and a 132 per cent increase over the same period in 2009. Prince Albert has not experienced this much activity since the late 1980s. Kevin Wouters, president of the Prince

Photo: Prince Albert Tourism

CURT CHEREWAYKO

Photo: Lakeview Estates

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Albert and District Association of Realtors, said that retail space remains hard to come by, with space at Cornerstone scooped up as soon as it becomes available. “We were underpriced and now there is demand for it,” he said. “Being tight on space is a good problem as long as it doesn’t get out of hand.” The most difficult land to find in Prince Albert today is industrial, which has a vacancy rate near zero. An October 2010 study commissioned by Prince Albert to examine an increase in the development levy found that 25 years from now, the city will face an industrial land deficit of anywhere from 80 acres to 402 acres, depending on the growth scenario. City Hall has identified 338 acres to the

Please see Prince Albert page B25

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Farm & Acreage Specialist 306-222-7770 s ed@edbobiash.com www.SaskLand4Sale.com Sterling Development Land Excellent development opportunity only 6km East of Saskatoon $889,900 Waning/Kerr Land 80 acres of rolling hills and scenic views. Subdividable for acreages $114,900 Mathers Mixed Farm 3 Quarters mixed farm $289,900 Wakaw Gravel Land Land with gravel deposits $350,000 Shell Lake Gravel Land Land with gravel deposits $1,199,000 Blucher Grain Land 630 acres of grain land east of Saskatoon $669,900 SE Perimeter Investment Inside of new proposed perimeter highway in Saskatoon $2,200,000 Koop Acreage #3/Hay Land 60 acres north of Blackstrap Lake $99,900

Acreages around Saskatoon - Call for info www.SaskLand4Sale.com

Saskatchewan/Manitoba B25

WESTERN INVESTOR SEPTEMBER 2011 www.westerninvestor.com

13*/$& "-#&35 from B24 south east that are to be annexed by the city, likely this fall. Once the annexation occurs, the city will face the challenge of coming up with the capital needed to service the new lands (phase 1 will see 30 acres of the annexed land serviced for light-industrial use). A development levy of $98,372 per hectare was recommended in the third-party report that the city commissioned last October. That’s an increase from $48,185 per hectare in the West Hill area of the city and an increase from a city-wide (excluding West Hill) levy of $29,035 per hectare. The city is also opening an eco-industrial park in the fall, where it hopes to create a critical mass of biofuel, biomass and other cleanenergy developers.

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Wouters said that the average sale price of a home in Prince Albert has doubled in the last five years, sparking new developments. The 63-acre Lakeview Estates will be made up of condos and single-family homes. After a month on the market, 11 of the 26 houses being built in phase 1 were sold. Garry Miller, a Prince Albert real estate agent and a co-owner of Lakeview, said that buyers are mostly local retirees. The Adanac Pointe development is not a gated community like Lakeview, but its developers call it the first “architecturally planned”

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11

Ajit Matharu 306-581-3130 Email: ajitregina@gmail.com

HOMELIFE CRAWFORD REALTY www.DreamTeamSK.com

INVESTMENT OPPORTUNITY 1301 Central Avenue, Prince Albert, SK Land Size: 100’ x 132’ = 13,200 sq. ft. Building Size: 13,200 sq. ft. Main Floor & 3nd Floor Sale Price: $2,195,000 Contact: Barry Stuart & Kelly Macsymic

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SASKATOON APARTMENTS

Call the 11

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Regina

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Population 34,138 Trading area population 140,000 Major employers Government (health care), forestry, sales and services Average detached house price $245,895 Residential rental vacancy rate 2.7 per cent

neighbourhood in Prince Albert. With 72 residential lots, prices range from $400,000 to $1 million. The 20 lots in the first phase are 80 per cent sold. Doug Patrick, who is developing Adanac Pointe and is also the incoming chairman of the Prince Albert & District Chamber Of Commerce, noted, though, that Prince Albert must depend not on retirees but younger workers in order to achieve its full potential.◆

LIST

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Family Opportunities! MOTORSPORTS: Sales and Service, ATV, Motorcycles, Sleds, Boats. 10 years in business GROCERY STORES: Family wanted, stay in Canada, make money, good communities HOTELS: With living quarters, good areas, close to big cities, makes money MOTEL: Husband and Wife business, living quarters, good income. Price $439,000 40 ACRES: Land and Buildings on Yellowhead Hwy. Possible Truck Stop, near Junction 2 highways

Century-21 Westman.com Brandon, MB

Direct Line: 204-729-5074

Email:

mmelnyk@mts.net

INCOME GENERATORS! • CHICKEN DELIGHT Franchise ......................... $599,000MLS • C-STORE / GAS STATION ............................... $499,000MLS • COMMERCIAL BUILDING ............................... $189,000MLS • COMMERCIAL ACRES / BUILDING.................. $169,000MLS

We have plenty of Commercial lots and Buildings waiting for your ideas! Main Street, Highway and off street sites

Call Keith @ 306-873-7771

1-800-661-6988

ROYAL LEPAGE RENAUD REALTY 1202 Main Street, Tisdale, SK

1-306-873-5900

SASKATCHEWAN

Accelerating success. FOR SALE

FOR SALE

3530 KINNEAR AVE SASKATOON 2.36 acres in the Marquis Industrial area zoned for light industrial activities • List Price $731,600 MLS® •

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

INVESTMENT OPPORTUNITY FOR SALE 1201- 101st Street, North Battleford, SK Annual Net Income: $72,000 Cap Rate: 8.47% Sale Price: $850,000 Contact: Ken Kreutzwieser

FOR SALE/LEASE

FOR LEASE

FOR SALE

1415 ONTARIO AVE SASKATOON

612 MAIN STREET SASKATOON

600 FENTONS CRES RM OF SHERWOOD SWIFT CURRENT REGINA

79,352 SF building on 4.5 acres • List Price $5,950,000 Excl. Glen Paziuk 306 241 8884 glen.paziuk@colliers.com

41,900 SF new office targeting LEED® Gold • Net Lease Rate $33.00/SF Excl. Brian Peberdy 306 221 6090 brian.peberdy@colliers.com

• 621 acres of prime land 99,750 SF bldg. • List Price $7,000/acre List Price $3,000,000 Excl. • Net Lease Rate $5/SF Excl. D’Arcy Skwara Mike Kelsey 306 789 8300 306 789 8300

•

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

ICR Commercial Real Estate icrsaskatoon.com

Humboldt

Saskatoon 5

PRAIRIE DEALS GREAT IMMIGRANT FAMILY OPPORTUNITY! •24 UNIT MOTEL - w/ INTERIOR HALLWAYS & OWN ENTRANCE FROM FRONT DOOR • NEAR NATIONAL PARK - HOTEL, OFFSALE, RESTAURANT, POOL, - OWNERS RETIRING! •MANITOBA HIWAY LOCATION •ASKING $750,000 •ON "LOOPNET" MOTELS - BONNEYVILLE, AB: Great Oil Town! 24 units + Manager's suite. Asking $1.2M MOTELS - COMING SOON! Call Us Today, 3 Units in SASK. WATCH FOR THEM HERE! 3.25 ACRES - Industrial lot - $499,000. Motivated Seller! 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 WAREHOUSE/CONDO BAY - FOR SALE: New construction, Starting $295,500 - 1500 sq. ft. +. GRAVELBOURG - 19 room Bed & Breakfast. - REDUCED - $199,900. On 2.39 acres - REDUCED - $149,900! INDIAN HEAD - 8 Unit apartment - $250,000. CONDITIONAL SALE! BRANDON: 62 rooms, REDUCED $2.9M WANTED: Apartments Strip Malls, Hotels/ Motels, Parking Lots. ALL LOCATIONS

marketing your franchise?

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•

• •

michael.kelsey@colliersregina.com

darcy.skwara@colliersregina.com

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

INVESTMENT OPPORTUNITY FOR SALE – REAL ESTATE 72 Broadway Street, Yorkton, SK Land Size: 1.56 acres = 67,594 sq. ft. Building Size: 44,200 sq. ft. Sale Price: $695,000 Contact: Barry Stuart & Kelly Macsymic

INVESTMENT OPPORTUNITY 105 WAKOOMA STREET, SASKATOON, SK Land Size: 0.71 Acres or 30,928 sq. ft. Building Size: 1,144 sq. ft. (approx.) Sale Price: $580,000 Contact: John Kachur

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“Saskatchewan’s largest commercial real estate company”

B26

www.westerninvestor.com SEPTEMBER 2011WESTERN INVESTOR

REGIONAL ROUNDUP Weather testing, services hard-pressed to replace income from 600 mining jobs

5IPNQTPO UPVHIT JU PVU WESTERN INVESTOR

5

hompson is changing with the times.

lie ahead but he prefers to look at the need for diversification in Thompson as an opportunity, not a threat. “It’s a transition. We shouldn’t see it as something that is anything more than a change in the way business is going to be done, which happens all the time. We have to look at it and not be fearful,” he said. Despite Vale’s job reductions, the company still intends to be a force to be reckoned with in Thompson for many years. Having about 1,000 employees after the shake out will do that. “We think we can manage [the job reductions] through attrition and natural turnover, which is a nice situation to be in,” said company spokesman Cory McPhee.

/FX PSF CPEZ

McPhee said the company wants to ensure Thompson remains a strong and vibrant community, which is why it is an active participant in the diversification discussion.“We feel a commitment to Thompson. The city and the company grew up together,” he said. Vale is also putting its money where its mouth is when it says it believes there’s a solid mining future in Thompson. It’s planning to spend $14 million on exploration over the next few years, and McPhee said the company is excited about a new ore body in the area, dubbed Thompson 1-D, and is looking at the best ways to access it. “We’re very excited about the mining future in Thompson. The mining projects are going 4FSWJDF DFOUSF Thompson’s service area covers the north-cen- to be our future for another 20 or 30 years,” tral region of the province and encompasses McPhee said. about 60,000 people. “It’s not unusual for somebody in northern )PVTJOH GSFFGBMM Manitoba to travel two or three hours to pur- The uncertainty about Thompson’s future, howchase what they need. They’ll come here for ever, has filtered down to the housing market. grocery shopping and other products and ser- Bernard Kelly, owner of the local Re/Max vices that aren’t available in their home com- office, said house prices have fallen 15 to 20 $PME TQJOPGGT “We’re Canadians and North Americans, we munities, like automotive, accounting, legal, per cent from where they were just three years live in a cold climate. Northern Europeans do, furniture and restaurants,” Johnston said. ago. He may be optimistic. This year housing He added there’s no doubt some challenges prices plunged from an average of $208,000 too. If you have a vehicle and it’s -40 degrees

2VJDL GBDUT N

Hudsons Bay

MANITOBA

THOMPSON ✪ Flin Flon SASKATCHEWAN

Whether it wants to isn’t the issue – Manitoba’s third-largest city simply has no choice. With last November’s decision byVale Ltd., formerly Inco Ltd., the operator of the city’s nickel operations, to shut down its smelting and refining operations and up to 600 jobs, it became crystal clear that Thompson could no longer solely rely on the industry that is responsible for its very being. Luckily the city, which sits near the same latitude as Edmonton, already had a growing coldweather-testing sector. Roxie Binns, development co-ordinator for the City of Thompson, said an economic impact study a couple of years ago estimated the industry was worth about $1.5 million annually to Thompson, but that figure has probably doubled by now. Everything from automobile and airplane engines to heavy equipment to hydraulic systems gets tested in Thompson, where winter typically starts in mid-October.Rolls Royce and Pratney & Whitney use the city’s state-of-theindustry, $42 millionGlobal Aerospace Centre for Icing and Environmental Research to cold test the world’s largest airplane engines. Despite a dip in the cold-weather-testing business during the economic downturn, things are heating up once again. And with a significant portion of the world enduring frigid temperatures for at least part of the year, there’s no reason for the demand for this type of testing to drop off, Binns said.

and you’re 200 kilometres from the nearest community, the last thing you need is for your vehicle to stall or for the fuel systems to ice up,” she said. All those weather-testing visitors, naturally, bring their wallets with them and often open them up at hotels, restaurants and bars. Binns said she was pleasantly surprised to hear some of them were doing more than that. One company, for example, spent money at 65 different businesses in Thompson, including maintenance garages and hardware retailers. It even used a gardening store to buy peat moss – in the middle of winter, naturally – to clean up any minor oil spills that it might have caused on roads or in parking lots. Mayor Tim Johnston said as soon as everybody realized that the sky wasn’t falling on Thompson after Vale dropped its bomb last November (the company still intends to do mining and milling) the wheels started turning on how Thompson could ensure it becomes the best possible service centre to the north. He’s confident the province’s third-largest city can follow the trail blazed by the second largest, Brandon. “We want to do what Brandon did, which was transform from an agricultural centre into a service centre with an ag base. We want to become a service centre for northern Manitoba with a strong mining base,” he said.

➔

GEOFF KIRBYSON

ONTARIO

Winnipeg

5IPNQTPO .# Population 13,400 Average house price $137,000 (June 2011) Average household income $101,600 Major employers Vale Inc., government

in January to $137,000 in June, according to the Manitoba Real Estate Association.While Vale’s previous actions have undoubtedly played a role, Kelly said the fact the company’s contract with its employees expires this fall is of greater concern: it has played some serious hard ball with employees in other cities. “[The Thompson operation] to Vale is such a small part of their overall holdings that the gut feeling here is they could shut it down whenever they wanted and it wouldn’t hurt them. Before, when it was Inco, we were a major player,” he said. Kelly predicted that once the Vale contract is settled, the housing market will rebound. Johnston said the city has seen the addition of about 150 hotel rooms in the past year but the hospitality industry hasn’t followed up with restaurants and pubs. “I think there’s a huge opportunity there as well as retail,” he said.◆

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Franchises B27

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Take Five Café takes new look

W

ith around 400 coffee shops in the Lower Mainland, it takes something special to stand out from the competition. Longtime restaurateurs and brothers Dean and Steve Punzo think they have done just that. Throughout August, seven Metro Vancouver Take Five Café locations reopened with a new look – highlighted by a revamped logo and in-store rebranding. “We’ve changed the look and feel of the cafés but the much-loved coffee and Italian-inspired foods remain the same,” said co-founder Steve Punzo. Having experience with consulting agencies for creative and business decisions in the past, the brothers worked together to come up with the chain’s first rebranding since opening in 2003. “What really separates Take Five Café from the rest of the competition is the quality of our coffee,” said Steve. “It’s a balance – not over-roasted – right through the espresso to the drip coffees and decaf … and the food is top notch.” While at first it was a challenge to explain the entire scope of the rebranding to franchisors, “everyone has embraced the new look and is excited for the future of the company,” Steve said. Take Five Café opened a café kiosk in Richmond Centre in January and will open a ninth location at the Brewery District redevelopment in New Westminster this fall. The European-style coffee houses evolved from the Punzo family’s original business, the upscale Caffé dé Medici restaurant on Robson Street, a recipient of the Distinguished Restaurants of North America and several Wine Spectator Awards. Dean and Steve started working at Caffé dé Medici in the early 1980s and took over the business in

1995 when their father retired. Asked about expanding Take Five outside of the Lower Mainland, Steve responded, “We want to grow, but grow responsibly.” Take Five franchise prices were not available as of press time.

Realty Executives expands across the Prairies

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ealty Executives International, Inc. has awarded 24 franchises since January 1, 2011, including new offices in Winnipeg, Saskatoon – and Saudi Arabia. “To support Executives [real estate agents] staying on the cutting-edge, we developed progressive mobile and website marketing technology that is easy to integrate into their business, whether they are tech-savvy or not,” said Rich Rector, owner and president of Realty Executives International. Rector explained that its international referral network allows Realty Executives’ agents to tap into the growing segment of out-of-state and out-of-country homebuyers. Realty Executives offers a 100 per cent commission for franchise real estate agents. A franchise investment requires an investment of from $18,600 to $88,100 with an initial franchise fee from $1,000 to $26,000. The royalty fee is $50 per licensee.

W

hen Clancy’s Meat Co. CEO Paul Monger realized that, in order to take on the competition in the specialty meats franchise industry a rejuvenation of the brand was needed, he didn’t cut any corners. Monger introduced Canada’s specialty food market to the concept of the “modern-day butcher shop.” By adding an extensive line of frozen products accessible by self-serve freezers and a wide range of packClancy’s Meats campaigns under a new banner. aged sauces and marinades, Monger has executed a complete product overhaul designed to speak to the evolving desires and tastes of consumers. “We really need to carve out our business like anyone else,” Monger said. “We have to fight hard for that positioning, and this rebrand of our locations will help us achieve that.” The new Clancy’s Meat stores are bright, airy, modern and stocked with both fresh and frozen products. In the 12 months since the rebrand and rollout of fresh products began, the Surrey-based company has sold more than 25 new franchise locations across Canada and experienced a 250 per cent system-wide sales growth. Monger plans to open as many as 10 stores in B.C. over the next year, but, he said, “it depends on the real estate.” “We get quite a bit of attention from investors, but the acquisition of real estate is a large focus in target communities, and [that] can sometimes create a waiting game. A franchisee in Langford outside of Victoria has been looking for quite some time.” said Monger. “[Lease] rates are excessively high, up to $50 to $60 a square foot. “However, occasionally, a great opportunity arises.” Monger continued. “A good example is in Burnaby at the Kensington Square Plaza. Normally, we don’t find space in a groceryanchored site, because they typically prevent Clancy’s or other fine-meat shops from getting in there. It’s a busy plaza with restaurants, grocery, banks and a real local win for the company to get in this area.” Clancy’s has another location in Burnaby under construction, a store in Cloverdale opening in 2012 and is close to completing its first outlet in Kamloops. It takes a minimum investment of from $200,000 to $500,000 to own a turnkey Clancy’s. Photo: Clancy Meat Co.

News, views and updates on Canada’s franchise industry

$MBODZ¤T SFCSBOET UP MPXFS UIF CPPN PO DPNQFUJUJPO

ing the total of new Subway restaurants to just over 1,200 for the year so far. In total, 27 new franchises have opened in Canada this year, including B.C. locations at Simon Fraser University, the Royal Jubilee Hospital in Victoria and Home Depot in Port Coquitlam. n the months of May, June and July International milestones for the period Subway franchisees have opened nearly include reaching more than 600 locations in 600 new locations in 48 countries, 42 U.S. states and seven Canadian provinces, bring- Brazil, 200 in Russia and the very first Subway

Subway opens 600 outlets

I

restaurant in Liechtenstein. The most popular fast-food franchises in the world, the Subway chain now has more than 33,749 locations across the globe, more than even McDonalds, which has 32,723. (McDonalds is more profitable, however.) A Canadian Subway franchise requires an investment of from $80,000 to $310,000, which includes a $15,000 franchise fee.◆ – Compiled by Kevan O’Brien

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