Western Investor July 2011 Section A

Page 1

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

3 APARTMENT BUILDINGS NEW WESTMINSTER & BURNABY

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

14 WATERFRONT NOW HARD SELL s 3UITES W PENTHOUSES .EW 7ESTMINSTER s Asking $1,990,000 at 5% cap rate s BUILDINGS "URNABY SIDE BY SIDE SUITES EA s Asking 1,625,000 and $1,650,000 s 6ISIT www.naiapartments.ca FOR AN INFORMATION PACKAGE AND MORE LISTINGS

s SQFT DEMISED AS RENTAL UNITS s CAR COVERED PARKING LOT s FT FRONTAGE WITH CORNER EXPOSURE s #LOSE TO 3KYTRAIN (WY ,OUGHEED (WY s Asking $699,000 / $154 psf

MICK MATHEUSIK, M.Sc. TERRY HARDING 604-683-7535 DON ELLIS, RI 604-524-3641 ext 311 KEN KIERS OR KEN HICK donellis@naicommercial.ca 604-691-6656 mick@naicommercial.ca JACKSON TANG

MERRITT, BC OPPORTUNITIES HOT PRICE s 5NIT 4OWNHOUSE 3ITE s !C 2 - & ZONING s 3ERVICES AT STREET s Asking $699,000 G DIN PENFFER O

CAMPBELL HEIGHTS LAND, BLDGS., & BUSINESS s ACRE PARCEL s /#0 SHOWS ,IGHT )NDUSTRIAL s (IGH EXPOSURE CORNER SITE s (OLDING INCOME WITH RES RENTALS GREENHOUSE BUSINESS s Asking $2.59 Mil

604-534-7974 ALFRED LEUNG CHRIS LANGHAUG

$4.29 JULY 2011 Vol. 26/Issue 7

MINI STORAGE ON 1 ACRE PARCEL s UNIT 3ELF 3TORAGE &ACILITY s 2OOM TO EXPAND BY ACQUIRING ADJACENT ACRE SITE s 0ROFORMA ./) s $1.475 Mil

s 6ENDOR MAY CARRY WITH DOWN s .OW ONLY $3.39 Mil K AC

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

3 LIGHT INDUSTRIAL LOTS

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

11.4 ACRES DEV. LAND ADJACENT TO WAL-MART

s ACRES EACH Amazing price $69,900 ea.

or 1-800-890-9855 CHRIS LANGHAUG 604-534-7974 langhaug@naicommercial.ca

INVESTMENT PROPERTIES FOR SALE LANGLEY AREA INDUSTRIAL FOR LEASE – LANGLEY

INDUSTRIAL FREESTANDING BUILDING

ABBOTSFORD FREESTANDING OFFICE/RETAIL FOR SALE

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

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

s 4RAFlC COUNT VEHICLES DAILY s %XCELLENT EXPOSURE IN DOWNTOWN !BBOTSFORD s !PPROX SQ FT LOT s !SKING 0RICE $419,900

City developers see gold but rural prices flatline

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LOOKING FOR HOTELS/MOTELS IN LOWER MAINLAND, BC s (AVE SERIOUS "UYERS s !T LEAST ROOMS s "RANDED 0OTENTIAL TO BECOME QUALITY MOTEL IN KAMLOOPS AREA, BC s /WNER WILL HELP lNANCE s ,OTS OF UPSIDE POTENTIAL LAND FOR EXPANSION s - n OF REPLACEMENT VALUE MOTELS FOR SALE IN INTERIOR, BC s ,OW DOWN PAYMENT s /WNER WILL HELP lNANCE s -ANAGE TO OWN

Vancouver Mayor Gregor Robertson helps pitch giant River District mixed-use community on the Fraser River

9 DON’T CALL THEM TRAILERS

Higher-quality homes, steady returns make mobile home parks an intelligent investment

21 GOLF PLAYS IN THE ROUGH

Competition handicaps sale prices, green fees 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

DON MACDONALD, CCIM OR TODD BOHN 604-534-7974 or 1-800-890-9855 s donmac@naicommercial.ca

Build on the Power of Our Network. Over 350 Offices Worldwide.

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

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

A2 Lower Mainland OWN IN HILLCREST/CLAYTON CALERA

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ERIC WALKER

FOR SALE YALETOWN STRATA OFFICE

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IAIN YOUNG

FOR SALE - WATERFRONT FOR SALE - 15 SUITE RESTAURANT, PUB & LODGE APARTMENT/CONDO BUILDING 663 GORE AVENUE

www.westerninvestor.com JULY 2011WESTERN INVESTOR

FOR SALE 780 EAST CORDOVA STREET

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FOR SALE - 9948 100TH STREET, FORT ST JOHN

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RANDY SWANT* SEAN UNGEMACH**

FLAVIO UNTI

BRAND NEW LARGE BAY STRATA UNITS IN CAMPBELL HEIGHTS

FOR SALE - KELOWNA STORAGE PARK

FOR SALE/LEASE - 17902 & 17903 ROAN PLACE SURREY

FOR SALE HIGH EXPOSURE

MATTHEW MACLEAN BRETT AURA

DON DUNCAN* CHRIS DRIVER*

ANDREW GREEN* KEVIN VOLZ

CHRIS NEWTON

HIGH VISIBILITY INVESTMENT OPPORTUNITY

449 E. HASTINGS STREET VANCOUVER

FOR SALE - KELOWNA STORAGE PARK

MULTIFAMILY DEVELOPMENT SITE

BILLRANDALL* RICK EASTMAN*

KYLE WILSON CRAIG HAZIZA***

FOR SALE - BRAND NEW STRATA BUILDING

DEVELOPMENT OPPORTUNITY WITH INCOME

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BILL RANDALL*

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FOR SALE HIGH QUALITY INDUSTRIAL STRATA UNITS

MARK TREPP* BOE IRAVANI

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200,000 SF INDUSTRIAL FACILITY, RICHMOND

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WILLIAM N. HOBBS*

CRAIG HAZIZA*** BOE IRAVANI

6629 KINGSWAY, BURNABY

PEMBERTON MULTIFAMILY SITES

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CHRIS NEWTON MATTHEW MACLEAN

BILL RANDALL* NOAH FREEDMAN

CRAIG HAZIZA*** KYLE WILSON

BILL RANDALL*

FOR SALE - 30 UNIT MOTEL 6255 MARINE AVENUE POWELL RIVER

COURT ORDERED SALE

GROCERY ANCHORED SHOPPING CENTRE

FOR SALE - MAIN STREET MIXED USE

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SEAN UNGEMACH** MICHAEL THOMPSON*

BILL RANDALL*

CHRIS DRIVER* DON DUNCAN*

MARK GALLAGHER HUDGE PARMAR*

CRAIG HAZIZA*** ADAM FRIZZELL

BRETT AURA

VANCOUVER POINT GREY APARTMENT

86.85 ACRE DEVELOPMENT SITE NOT IN ALR

7.5 % RETURN

FOR SALE - 0.78 ACRE LAND PARCEL

RETAIL INVESTMENT OPPORTUNITY

9% RETURN

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BRETT AURA / DON DUNCAN* CHRIS DRIVER*

HUDGE PARMAR* MARK GALLAGHER

ERIC WALKER WILLIAM N. HOBBS*

MIKE HARDY

HUDGE PARMAR*

BILL RANDALL*

RETAIL SHOPPING CENTRE INVESTMENT OPPORTUNITY

RECEIVERSHIP SALE BELOW ASSESSED VALUE

FOR SALE - WILLOW CALE ROAD, PRINCE GEORGE, BC

12180 BRIDGEPORT ROAD

OWN YOUR OWN OFFICE SOLARIS

FOR SALE MIXED USE MULTITENANT BUILDINGS

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50% LEASED

HUDGE PARMAR*

RICK EASTMAN* KEVIN VOLZ

Moving with confidence

BILL RANDALL*

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CRAIG BALLANTYNE

ERIC WALKER CRAIG HAZIZA***

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

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

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

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CRAIG BALLANTYNE

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HOT PROPERTIES

FEATURES 14 0/ 5)& $07&3 5JEF DIBOHFT GPS XBUFSGSPOU

On the cover Vancouver Mayor Gregor Robertson officiates at opening of 130-acre waterfront development on the Fraser River. Photo: ParkLane Homes

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

Prized in the city, it is a bargain along B.C. coastline

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Beetle-kill timber part of Asian-fuelled recovery

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Price discounts now par as competition heats up

COLUMNS

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102 ACRE FARM LYNDEN/EVERSON AREA 55 ACRES OF BERRY LAND Located on two adjacent parcels. All berry land on 55 acres can be sold seperately. 47 acres includes three new steel buildings, property is fenced and cross-fenced into 6 different pastures with underground water to all. Excellent condition, shows pride in ownership. This is priced to sell at $2,500,000.

For more information, call our office.

RON BENNETT COMMERCIAL REAL ESTATE Ron Bennett

SUTTON GROUP WEST COAST REALTY

(USN Ret.)

CALL

/ Owner - Broker

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

Don Munro

604-817-7338

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

✓ VALUE FOR $

botsold@intergate.ca

ACREAGES CHILLIWACK

LANGLEY

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

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

7640 Nixon Road s !CREs s "EAUTIFUL LOG HOME AND LARGE SHOP

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

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

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

✓ GOOD RETURN

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

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

ABBOTSFORD

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

LANGLEY

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

✓ TENANT COVENANT

✓ UPSIDE

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

✓ CAREFREE

A4 Lower Mainland

www.westerninvestor.com JULY 2011WESTERN INVESTOR

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$ # ' 6158–6178 East Boulevard, Vancouver 2ARE OPPORTUNITY IN +ERRISDALE 4WO PROPERTIES ON SQ FT LOT :ONED # s SQ FT OF BUILDABLE DENSITY

891 Cambie Street/225 Smithe Street Vancouver SQ FT OF BUILDABLE DENSITY X SITE s &OR SALE BY COURT ORDER

Chris McIntyre, James Bayley, Tom Bakker

James Bayley, Tom Bakker

DEVELOPMENT OPPORTUNITY

RETAIL FOR SALE

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2450 Ticehurst Lane & 2455 Gately Avenue Port Coquitlam SQ FT SITE WITH RIVER FRONTAGE SQ FT OF BUILDABLE DENSITY Chris McIntyre, James Bayley, Tom Bakker

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

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James Bayley, Tom Bakker Meghan Kennedy

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

FOR SALE

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PRIME WESTSIDE INVESTMENT OPPORTUNITY

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3800 Wesbrook Mall provides an excellent environment that will support and enhance the intellectual and social 1521 WEST 4TH AVE development goals of companies involved in R&D. Laboratories, ofďŹ ces, teaching, Corner lot of 5,650 sq ft. training, and conference facilities, in supCash business included $2,619,000 port of research and development in a number of key areas. $10,500,000 Call SANDI FRATINO 778-999-0005

2094 West 43rd Avenue at East Blvd. Kerrisdale, one of Vancouver’s oldest and most afuent neighbourhoods. 2 strata units 1,311 sq ft. Asking $910,000 3 strata units 3656 sq ft. Asking $2,500,000 May be purchased together - 5 strata units Great lease in place Asking $3,388,000 Call SANDI FRATINO 778-999-0005 OR REID DEWSON 604-732-9944

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

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WESTERN INVESTOR JULY 2011 www.westerninvestor.com

APARTMENT BUILDING SPECIALIST EAST VANCOUVER

PENTICTON

NEW WESTMINSTER

11 Units 6.4% Cap Totally Renovated Fully Rented

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

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

WEST END

LANGLEY

COURTENAY

51 Units – Prime location Near beach, shopping, amenities Gross Income $637,158

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

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

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

604.263.2823

RETAIL STRATA SALE

RETAIL STRATA SALE

STRATA RETAIL SALE

1861 Franklin Street, Vancouver SQ FT OFFICE PRODUCTION WAREHOUSE (EAVY ELECTRICAL SERVICE s 'RADE LEVEL LOADING 5P TO PARKING STALLS s :ONED -

1777–1799 Kingsway, Vancouver 3,005 sq ft ground floor strata High exposure corner location PER SQ FT s &ULLY LEASED UNTIL $EC

902 Commercial Drive, Vancouver 1,831 sq ft corner property Current cap 5.2% plus management fee #OVENANT STRONG s 2ENEWAL IN

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

Mitch Ellis, Ryan Saunders

Conor Finucane

Conor Finucane

Conor Finucane, Howard Malchy

OFFICE STRATA SALE

INDUSTRIAL SALE

INDUSTRIAL FOR SALE

INDUSTRIAL SALE/LEASE

837 West Hastings Street, Vancouver SQ FT OFFICE IN 4ERMINAL #ITY #LUB .EW IMPROVEMENTS s !IR CONDITIONED #OURTYARD VIEW s ,EASED FOR ONE YEAR

140 Glacier Street, Coquitlam Rare high quality 23,100 sq ft facility on 1 acre GRADE LEVEL DOORS s .EW ROOF s &LOOR DRAINS Vendor will lease back up to 17,000 sq ft

107–109 1750 Hartley Avenue, Coquitlam STRATA UNITS s SQ FT EACH SOLD INDIVIDUALLY OR COMBINED s 'RADE LOADING s 0ROFESSIONAL OFFICES WAREHOUSE CEILING HEIGHT s !CROSS FROM (OME $EPOT

1301 Ketch Court, Coquitlam Two 2,550 sq ft units, 5,100 sq ft total 1UALITY DEVELOPMENT s 'RADE DOORS s !MPLE YARD AREA s !SKING OR PER SQ FT LEASE

Conor Finucane

Chris McIntyre, Steve Caldwell

Chris McIntyre

Steve Caldwell, Phil Gibbons

INDUSTRIAL SALE/LEASE

INVESTMENT SALE

INDUSTRIAL SALE

INDUSTRIAL LAND FOR SALE

15 - 1520 Cliveden Avenue, Delta 3,880 sq ft high quality office/warehouse Corner unit with wrap-around glazing (IGH WAREHOUSE CEILINGS s 'RADE LOADING

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

23011 Fraserwood Way, Richmond 28,152 sq ft on 1.30 acres 3 dock and 1 grade door HIGH WAREHOUSE CEILINGS s (WY EXPOSURE

1028 Eburne Place, Richmond ACRE CORNER SITE IN -ITCHELL )SLAND Extensive frontage along Eburne Way and %BURNE 0LACE

Casey Bell, Anthony Lux

Steve Caldwell, Murray Wills

Casey Bell, Anthony Lux

Casey Bell, Anthony Lux

Pr ic e

Re du ce d

INDUSTRIAL FOR LEASE

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

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

Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent veriďŹ cation. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 07/2011.

A6 Lower Mainland

www.westerninvestor.com JULY 2011WESTERN INVESTOR

.ZUI PG .FUSP¤T NJMMJPO EPMMBS IPVTF QSJDFT magine two car lots in the same town. One handles only Ferraris and Maseratis. The other sells Toyotas and Fords. The average price in the first lot is $500,000. In the other lot, where 80 per cent of local residents buy, cars are priced at an average of $30,000. Therefore, the average price of a car in town is $265,000. That’s the reasoning behind much of the media and analyst coverage of Metro Vancouver house prices, which has become so widespread even many residents think it takes more than $1 million to buy a home. Typical is a scary report from BMO Capital Markets last month. “The average priced home in Vancouver is now 11.2 times family income, more than double the ratio of a decade ago.â€? And “it is a market that is subject to an elevated risk of a correction,â€? the report intones, hinting prices could collapse. Yet prices for the vast bulk of buyers in Metro Vancouver are already half of the level that has the media and the analysts so worked up. Knock out sales of $1 million plus – most in three areas – and the actual detached

*

house price is under $600,000 and the real condominium apartment price averages less than $315,000. The findings come in a recent study from Vancouver-based Urban Futures, which used Landcor Data figures to show sales of high-end homes skew the market reporting. Landcor tracks all real estate transactions, not just those reported to the Multiple Listing Service (MLS). The study breaks down the sales data into five quintiles representing equal sales in price brackets from the highest to lowest. Considering the top quintile (or top 20 per cent of sales by value), which ranged up to $17.5 million, the average house price was a lofty $1.69 million, twice the average price for all sales. But in the remaining 80 per cent of the market – where the typical buyer is found – the average price was $591,000, or 27 per cent below the overall average price. Further, in 2010 the average selling price for all condominiums increased to $429,764. But this increase was in large part due to sales at the top of the market, where the most expensive condo sold for $17.5 million. This resulted in a 2010 average condo sale price for the top quintile of $904,338, while the average sales price for the remain-

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

ing 80 per cent was only $311,069. (These are 2010 prices but Urban Futures notes the same ratio held true in the first quarter of 2011.) The reality is that the vast majority of buyers can still find relatively affordable homes, with detached houses under $650,000 and condos for about half that price. The Real Estate Board of Greater Vancouver notes that one in every five homes sold in May went for less than $350,000. Vancouver home prices are the highest in Canada, but for the majority of buyers they are far below what most media suggests.

/&95 .0/5)

Western Investor presents our second annual Prairie Horizons report, detailing the economy – and future forecasts – for Alberta, Manitoba and Saskatchewan. We also look at green and LEED construction and click onto changes and competition in the MLS. Finance analysts tell all about construction and takeout loans in today’s low-rate market. Our regional reporters file from the Cowichan and Comox valleys, Spruce Grove, Steinbach and Swift Current.

Publisher Cheryl Carter Editor Frank O’Brien Contributing Writers Dave Husdal, Geoff Kirbyson, Glen Korstrom, Joel McKay, Peter Mitham, Kevan O’Brien, Bill Summers Copy Editor Noa Glouberman Production Manager Rob Benac Production Natalie Reynolds, David Tong, Tanya Van Advertising Sales Manager Christine Campbell Advertising Sales Paul Douglas, Gary Takahashi Advertising Sales Coordinator Angela Foster Accounts Receivable Yvonne Posch Circulation Veera Irani, Newsstands Globe Distribution Services Printed in Canada at Kodiak. Western Investor is published monthly by BIV Media Limited Partnership VANCOUVER – HEAD OFFICE: 102 East 4th Avenue, Vancouver, B.C. V5T 1G2 Subscriptions and Advertising Sales Tel: 604669-8500 Fax: 604-669-2154 Canada/U.S. tollfree: 1-800-661-6988 Alberta, Saskatchewan & Manitoba Advertising Sales toll-free: 1-888606-6267. Canadian publications mail product sales agreement #40069240, GST #105655567. Copyright 2002. While every effort is made to ensure the accuracy of articles and advertising that appear in each edition of Western Investor, the publisher may not be held responsible for any errors or omissions that may from time to time occur. No part of this publication may be quoted or reprinted in any medium without the express written permission of BIV Media Limited Partnership.

ADVERTISING DEADLINE AUGUST 2011 issue: July 11, 2010

FRANK O’BRIEN EDITOR wieditor@biv.com

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why HQ?

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Nhi Denis is a commercial real estate broker who •’‡…‹ƒŽ‹œ‡• ‹Â? ™‘”Â?‹Â?‰ ™‹–Š ÂŽÂ‘Â…ÂƒÂŽÇĄ Â?ƒ–‹‘Â?ƒŽ ƒÂ?† ‹Â?–‡”Â?ƒ–‹‘Â?ƒŽ ŽƒÂ?†‘™Â?‡”•ǥ ‹Â?˜‡•–‘”• ƒÂ?† ”‡–ƒ‹Ž –‡Â?ƒÂ?–•Ǥ Š‡ ‹• Â?Â?‘™Â? ˆ‘” …ƒ’ƒ„Ž› ŠƒÂ?†Ž‹Â?‰ Š‡” …Ž‹‡Â?–•ǯ Â?ƒÂ?› —Â?‹“—‡ ”‡“—‹”‡Â?‡Â?–•Ǥ Š‡ ‹• ƒ ’”‘˜‡Â? ’”‘ˆ‡••‹‘Â?ƒŽ ‹Â? –Š‡ ‡–”‘ ƒÂ?…‘—˜‡” …‘Â?Â?‡”…‹ƒŽ market since having joined a prominent ‹Â?–‡”Â?ƒ–‹‘Â?ƒŽ „”‘Â?‡”ƒ‰‡ …‘Â?’ƒÂ?› ‹Â? Í™ÍĄÍĄÍ Ç¤

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Í†ÍšÇĄÍĄÍ Í˜ÇĄÍ˜Í˜Í˜ David & Mark Goodman

Í†Í ÇĄÍ˜Í?Í˜ÇĄÍ˜Í˜Í˜ David & Mark Goodman

Í†ÍšÇĄÍ Í˜Í˜ÇĄÍ˜Í˜Í˜ Dan Schulz

High-quality market exposure. Unparalleled service. Get connected to the future of the real estateindustry by contacting HQ Real Estate Services today. ‡Ž…‘Â?‡ –‘ ƒÂ?Â…Â‘Â—Â˜Â‡Â”ÇŻÂ• Â?‡™ …‘Â?Â?‡”…‹ƒŽ ”‡ƒŽ ‡•–ƒ–‡ Š‡ƒ†“—ƒ”–‡”•Ǥ

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ĊĆđ ĘęĆęĊ ĊėěĎĈĊĘ ēĈǤ 530 - 1285 West Broadway Vancouver BC V6H 3X8

604 899 1122 Disclaimer: The information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent YHULÂżFDWLRQ +4 5HDO (VWDWH 6HUYLFHV ,QF 5HDO (VWDWH %URNHUDJH

Lower Mainland A7

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

For more information visit our website

Vancouver Office 604 687 7331 s

www.avisonyoung.com

s

FEATURED LISTING FOR SALE – 9005 Centaurus Circle, Burnaby s UNIT APARTMENT BUILDING WITH CONVENIENCE STORE MARKET s ,ARGE ACRE SITE IN 3IMON &RASER (ILLS NEIGHBOURHOOD s #LOSE TO SCHOOLS 3KYTRAIN AND ,OUGHEED 4OWN #ENTRE s 5NDERGROUND PARKING

FOR SALE – 5705 North Island Highway, Campbell River s ACRE WATERFRONT DEVELOPMENT SITE WITH E D WATERLOT LEASE C E RI UC P ED s :ONED I INDUSTRIAL R s /Fl CE BUILDING AND WATERHOUSE COMPLEX s .BSL )BOOBI 3PC (SFFS FOR SALE – Royal Towers, 140 - 6th Street, New Westminster s UNIT APT BUILDING W GROUND m OOR 2ETAIL s

3PC (SFFS "MFY .FTTJOB .BSL )BOOBI SOLD – 948 Homer Street, Vancouver s 3OLD FOR FULL LIST PRICE D L s SF /Fl CE 2ETAIL BUILDING SO s 2ARE OPPORTUNITY TO ACQUIRE A 9ALETOWN BUILDING .BSL )BOOBI 3PC (SFFS FOR SALE - 820 Kitselas Road, Terrace

3PC (SFFS .JDIBFM ,FFOBO #BM "UXBM SOLD - 12941 115 Avenue, Surrey s ACRE INDUSTRIAL PROPERTY D s 0ILED FOR SF BUILDING :ONED AND SERVICED L s BLOCK OFF OF FUTURE 0ERIMETER 2OAD INTERSECTION SO UÊfÓ]xxä]äääÊ Ê +PIO &BLJO .JDIBFM 'BSSFMM FOR SALE - 2342 Windsor Street, Abbotsford

s ACRES OF )NDUSTRIAL LAND s 7ORLD RENOWNED l SHING DESTINATION s

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.BUU 5IPNBT ,ZMF #MZUI FOR SALE - 123 East 3rd Avenue, North Vancouver s 2ECENTLY RENOVATED )NVESTMENT PROPERTY s UNIT APARTMENT s 0RIME LOWER ,ONSDALE LOCATION

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

.BUU 5IPNBT 3PC (SFFS FOR SALE 105 Brunswick St. & 110 Victoria St., Prince George

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FOR LEASE – Lynn Valley Village s 0REMIER 2ETAIL /Fl CE OPPORTUNITIES s !NCHORED BY "2/7.3 3OCIAL (OUSE 99OGA 6AN #ITY AND ,YNN 6ALLEY ,IBRARY s !VAILABLE IMMEDIATELY +BNFT 4IBOESP *BO 8IJUDIFMP

FOR SALE – 6891 Macpherson Avenue, Burnaby s &REE STANDING BUILDING AND YARD AREA s 2EDEVELOPMENT POTENTIAL s #ORNER LOCATION s 3ZBO ,FSS ,ZMF #MZUI

FOR SALE/LEASE – 1455-1475 East Georgia Street, Vancouver s SF OF /Fl CE WAREHOUSE AVAILABLE s ) ,IGHT )NDUSTRIAL ZONING s $OCK AND 'RADE LOADING s QTG +PIO -FDLZ 4USVBO 4BEEMFS

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

FOR SALE – #1 3180 262 Street, Langley

FOR SALE – 1161 Kingsway Avenue, Port Coquitlam

s SF OF OPEN PLAN /Fl CE SPACE s :ONING ALLOWS MANY /Fl CE USES s (IGH TRAFl C EXPOSURE s 1BVM 1VSFXBM UNDER CONTRACT – 2941 West Broadway, Vancouver R T DE AC N TR UN CO

s -ULTI &AMILY 2EDEVELOPMENT OPPORTUNITY s SF SITE s :ONED # # .BUU 8BMLFS

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

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s SF OF )NDUSTRIAL LAND s (IGH EXPOSURE s 1BVM 1VSFXBM FOR SALE - Forest Hill Plaza - 8318-120th Street, Surrey s !PPROX SF 2ETAIL /Fl CE BUILDING s 0OTENTIAL TO ACHIEVE OVER CAP RATE s FT OF FRONTAGE ON 3COTT 2OAD s %XCELLENT EXPOSURE IN HIGH TRAFl C COUNT AREA s #BM "UXBM

FOR SALE – Development Site 1636 Island Highway, Victoria s ACRES s #OMMERCIAL ZONED # s #LOSE PROXIMITY TO *UAN DE &UCA 2ECREATIONAL &ACILITY 6ICTORIA 'ENERAL (OSPITAL AND THE 'REAT #ANADIAN #ASINO %PVHMBT - .D.VSSBZ

FOR SALE – Dalton Hotel - 759 Yates Street, Victoria s 0RIME CORNER LOCATION AT "LANSHARD 9ATES R CT E s 3IGNIl CANT INCOME FROM 2ETAIL COMPONENT D A N R U NT s /PPORTUNITY TO ALSO ACQUIRE ON SITE LIQUOR STORE CO AND RESTAURANT BUSINESSES #BM "UXBM .JDIBFM ,FFOBO

FOR SUBLEASE - 10387 Nordel Court, Delta

FOR SALE – 9771 186 Street, Surrey

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

s ACRES IN PRIME 0ORT +ELLS LOCATION s ,IGHT )NDUSTRIAL ZONING s /UTSIDE STORAGE PERMITTED s BDSF

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A8 Lower Mainland/Services

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IN OW ESCR

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

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

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

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

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

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411th

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

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

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

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

A9

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

“I have found the [manufactured home] parks to be the safest version of a retirement savings plan”

*OWFTUJOH JO NPCJMF QBSLT oday’s manufactured home parks – known until recently as “mobile home parks” and long ago as “trailer parks’ – are far from the trailer-trash image comically portrayed in the Trailer Park Boys of TV and movie fame.

5

Today, manufactured home parks provide affordable housing for seniors, who usually make up about half the owners, young families starting out and people on a fixed income. The new manufactured homes built today are impressive, comfortable and conform to the highest level of construction codes and standards. They are constructed inside a manufacturing plant away from the elements. There are a wide variety of modular sizes and designs to choose from. Established parks may have older units with additions or carports attached, which, as long as they are well maintained and landscaped, can still be appealing.

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As an investment, manufactured home parks are a highly sought-after commodity. The reasons are numerous, but the biggest is the steady cash flow they produce. Because of this, lending institutions have changed their tune over the years and now find them a safe and desirable investment to finance. Appraisals and a phase 1 environmental study are usually required, however, as parks are classed as a commercial investment property. I have found the parks to be the safest version of a retirement savings plan, without your income being controlled by outside influences, such as the stock market. The investment is threefold: the tenants pay your mortgage down, while income after

Act (www.rto.gov.bc.ca) will give you information on landlord and tenants rights. As your park rents increases, so does the value of your park. There is the possibility to pass on large capital cost projects and improvement costs above and beyond the normal operation of a park.

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What should you be looking for when searching for a park to purchase? • Location: Location will be a prime factor, often depending on if you are a more hands-on expenses and the value of the owner who actually works on property traditionally increase the park. You may also decide over time. to hire a manager/caretaker to This investment income is look after most of the operafrom the rental of a pad space. tions that you can oversee from As the park owner, you supa distance. There are parks ply services to the underside that may not be as physically of the mobile home. You have appealing as others but may a month-to-month tenancy create higher net incomes comagreement with the tenants, pared with a premium park with who are responsible for their a decent cap rate. Ultimately the own utility costs and connecnicest and most well maintained tions above the ground. They have higher values. Some parks also maintain their own mobile have park-owned rental units, BILL SUMMERS and pad space, including the but realize that you will then be taxes on the unit itself. The park owner is in the same position as owning an apartment responsible for the land taxes and maintaining block or single-family residential units, with the common areas, roadways and services on vacancies, tenancy changes, tenants skipping the property, which include hydro, telephone, out, repairs, appliances and maintenance on water, sewer or septic system, snow removal the units. Owner-occupiers of mobiles usually and garbage collection. take pride in their homes and are the preferred tenants. 3FOU DPOUSPMT • Check past rent rolls for any vacancies: Most parks have a set of park rules for the ten- You can check the demographics of the town ants to sign and abide by, which maintains con- to assure the need for affordable housing in the tinuity and control in the park. In B.C., rents area. Parks on city services (water and sewer) are controlled by the Residential Tenancy are less maintenance compared with wells and Branch, which allows a yearly increase septic systems that require more maintenance based on a percentage above the present rents but can sometimes be less expensive to oper(reviewed yearly). For 2011, the allowable ate than the higher taxes of city services. You rental increase is 2.3 per cent, plus a cost of want a park that your tenants will be proud to living allowance, but tenants aged 60 and over live in. may be eligible for rent subsidies under the • Check services: The services within the BC Housing SAFER program. Low-income park should be in good condition with no major families may also be eligible for rent subsi- capital expenditures on the horizon. The local dies through the Rental Assistance Program. health authority monitors well water and it will Reading through B.C.’s Residential Tenancy have records and logs. The pumps and distri-

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bution system should be in good condition. If on a septic system, this will be monitored by the Ministry of Environment, which will have records on age and maintenance. It is expensive to replace fields, since this requires qualified contractors and, possibly, engineered plans for ministry approval prior to construction. It is always advisable to have the property’s systems inspected by a qualified firm. The electrical system is extremely important as some older parks have overhead wiring, which is unsightly and under-powered (sometimes 60 amps per unit) creating problems with breakers and replacing poles and guy wires, etc. These can all be costly to replace. Today’s standards require 100-amp services to each unit and it is preferred to have the lines placed underground out of sight and virtually maintenance free. • Check zoning: You will want to go to the governing authority or city hall and inquire whether proper zoning is in place, obtain a history of the property and find out if the park can be expanded for added value. Finding a park with an upside of increasing revenue is desirable. Having a common area, visitor parking, paved roadways, street lighting and possibly RV parking would be advantageous.

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Prices vary widely depending on location, size and quality of the overall development. The following are some examples of B.C. and Alberta manufactured home parks that were on the market as of press time: • Fraser Valley: 31-pad park with two homes on five acres priced at $1,295,000 with a 7.4 per cent cap rate, with potential upside; • Maple Ridge: 44-pad park with one home on five acres with a cap rate of 5.4 per cent; and • Alberta (remember, Alberta has no rent con trols): 105-pad park plus 21 RV sites priced at $6,500,000 at a 7.45 per cent cap with a potential upside.◆

Bill Summers of Lighthouse Realty Ltd. has owned a mobile home park for years and is a member of the Mobile Home Park Association. Summers can be reached at 604-626-8894, or via email at bsummers@telus.net.

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

COMMERCIAL R E A L E S TAT E S E R V I C E S SENIOR'S DEVELOPMENT SITE SALE: $2,800,000 Foundation in place, tendered plans, permits, ready to complete.

WEST KOOTENAY REGION GENELLE, BC ON THE BANKS OF THE COLUMBIA RIVER Adult mobile home park with 12 pads on 7 flat acres including 1400 sq. ft. home with a separate basement suite and an in-ground swimming pool. Recent updates to park & home. REDUCED ! $1,000,000 For information call Sid or Marianne

250.693.2436 To view: http:// joerichproject.com/crockett/

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6/*26& Lac La Biche, AB – 58 pads, 157 acres .... 3,000,000 Invermere, BC – 31.48 acres MHP site ..... 2,200,000 Radium, BC – 9.77 acres Cml Hwy Frtg. ... 1,200,000 Houston, BC – 113 pads, 22 acres ........... 1,400,000 Hope, BC – 40 pads , 4.05 acres.............. 1,100,000 Cherryville, BC – 25 pads, 22 acres.............. 750,000 Quesnel, BC – 30 pads, 9.25 acres ............... 725,000 Houston, BC - MH & RV Park, 40 ac+/- ....... 399,000

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

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Homelife Glenayre Realty

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GAS STATION WITH LAND & BUILDING $2.8 MIL FRASER VALLEY GAS STATION, C-STORE, LIQUOR STORE, PIZZA SHOP, 4 BDRM LIVING ACCOMMODATION UPSTAIRS (BUSINESS ONLY) PRICE: ONLY $219,000 OR BUSINESS W/LAND & BUILDING $1.85M 2 MORE GAS STATIONS WITH LAND AND BUILDING (LOWER FRASER VALLEY AND UPPER FRASER VALLEY) $1.99 MIL EACH FRASER VALLEY INDO CANADIAN GROCERY STORE and FRESH PRODUCE $249,900 (BUSINESS ONLY) INDO-CANADIAN GROCERY STORE, FRESH PRODUCE, VIDEO AND RESTAURANT (BUSINESS ONLY) FRASER VALLEY. PRICE: $149,900

MORE DETAILS CALL:

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

)0.&-*'& (-&/":3& $)*--*8"$,

NANAIMO PUB & LIQUOR STORE $1,275,000 SHARE SALE QUEENS HOTEL & LIQUOR STORE on 110,000 sq ft zoned Hi-Rise C-7 in the heart of Queensborough Super Development Site. 26 rooms. All totally redone. OFFERS! NANAIMO ROAD HOUSE & LIQUOR STORE – $1,050,000 2½ acres. Land & buildings. Asset sale. Includes 2 suites. PRICED TO SELL

Attention Homelife Agents: TO ADVERTISE

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

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MAPLE RIDGE PUB & LIQUOR STORE $4.2 MILLION, NETS OVER $700,000. WILL SELL SEPARATELY. NEW WESTMINSTER PUB & LIQUOR STORE $2,950,000 (SHARE SALE) CHILLIWACK – PUB & LIQUOR STORE & RESTAURANT excellent money maker REDUCED $2.4 Million. Great lease. SELLER MOTIVATED! TRY YOUR OFFER! SURREY PUB & LIQUOR STORE – Money maker. $2,000,000. SHARE SALE.

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QUEENSBOROUGH DEVELOPMENT PROPERTY – Many options – cleared land, approx 34,000 sq ft – zoned commercial/residential. 3 PROPERTIES - OWNER MOTIVATED BURNABY PUB & LIQUOR STORE –Business only. $2.5 Million 3 SURREY PUBS IN BUSY SHOPPING CENTRES - PRICED BELOW REPLACEMENT GREAT TERMS. NEIGHBOURHOOD LIQUOR STORES - PUBS - HOTELS - RESTAURANTS IF WE DON’T HAVE IT LISTED WE WILL FIND IT FOR YOU! MANY NEIGHBORHOOD PUBS IN ALL PRICE RANGES NOW AVAILABLE.

BARRY BOCK / DON KAYTOR Phone HOMELIFE BENCHMARK TITUS REALTY

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Phone

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

SELL Selling your business? Western Investor Business Opportunity pages are organized geographically so readers can find the opportunity they want.

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A11

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

FEATURE Forestry recovery boosts fortunes, but workers complain rising raw log exports reduce local jobs

5JNCFS UPXOT WESTERN INVESTOR emand from China – and help from the provincial and federal governments – has allowed a series of B.C. forest communities to surge back into timber production, but a huge increase in raw log exports continues to rankle forestry unions,

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“There have been 24 sawmills reopen in B.C. in the last 24 months,” said Cathy McLeod, MP for Kamloops-Thompson-Cariboo. “Many local lumber producers are now going back to full operations, recording profits and making major upgrades.” McLeod pointed to the opening of the West Fraser 100 Mile lumber mill, the Aspen Planer sawmill in Savona, the Canfor sawmill operation in Vavenby and the Domtar mill in Kamloops as evidence of the upturn. The recovery is largely based on exports to China, which has been active as a buyer of lumber and even mills. For instance, when four First Nations bands joined forces to resurrect the idled Sigurson sawmill in the Cariboo-Chilcotin region, it was Chinese buyers who were the first customers. The mill, which has been renamed River West Forest Products, represents a financial investment by four Tsilhqot’in communities, according to Joe Alphonse, chairman of the Tsilhqot’in group. Alphonse said the project has created 25 jobs for a region hit hard by the forestry sector downturn and launched a new business relationship between First Nations and Chinese lumber buyers. The bands bought the mill, which is near Hanceville, for a rock-bottom price that was less than $1 million. Soon, Chinese buyers were on the mill’s doorstep looking to buy rough lumber. “We weren’t advertising, we weren’t mar-

keting and they were showing up,” Alphonse said. River West began churning out rough-cut lumber on one shift in April, but Alphonse hopes to get the operation up to two shifts soon. He said the mill uses only mountain pine beetle-killed trees in an effort to process the Interior’s vast stands of dead trees. “We’re surrounded by dead forest, and this mill is earmarked to deal with strictly the dead forest that’s standing around us,” he said. “In our view, the mill is part of the solution, part of converting the lodge pole pine back to a living stand.”

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Other mills – and mill towns – are also coming back to life. • A closed sawmill in Kitwanga, near Terrace, that is due to re-open, thanks in part to the demand from China. Mill owner Pacific BioEnergy said an estimated 60 per cent of the production would be sent to China. Prince George-based Pacific BioEnergy bought the mill and an area forest licence out of receivership in September 2009 to provide a base to build a pellet plant in the area. The new owners, however, now plan to run it as a sawmill, with a pellet facility added later. • The United Steelworkers Union and Tolko reached an agreement to restart Tolko’s Creekside mill in Williams Lake. The strategy will see Tolko combining several log yards, with most shipments to Asia. The mill was set to reopen in June, but, because parts of the mill have been idled since 2008, extra time may be required before the mill is operational. If the Asian market is secured, the company has agreed to run one full shift with from 150 to 200 workers. • Canfor is reopening its Vavenby mill. The company announced it intends to re-start its Vavenby operation in the third quarter of this

Photo: BC Governments

WI STAFF

More raw logs are moving to mills across B.C., but unions say too many are being shipped to China for processing.

year, putting up to 140 unionized and nonunionized staff back to work. The Vavenby sawmill was shut down in 2009. Canfor plans to spend $24 million on upgrading the sawmill and planer mill before reopening, said spokesperson Dave Lefebvre. The mill will start first with just one shift. When at full production, the mill will produce approximately 240 million board feet of lumber on an annual basis. The company expects most of the production to go to the United States, with some to Japan and some high-grade products to the rest of Asia. Currently, Canfor is sending the equivalent of three mills’ production to China. • Vaagen Brothers Lumber Co. plans to re-

start a West Kootenay sawmill in Midway, B.C. The Midway mill had sat vacant for three years before residents in the town of 630 decided to buy it. Boundary Sawmill, the local corporation, has signed a 10-year lease with Vaagen Brothers, which will run a small-diameter log mill similar to its operation in nearby Colville. Vaagen Brothers expects to employ about 35 workers at the Midway mill when it reopens this fall. The sawmill was formerly owned by Pope & Talbot, an Oregon company that filed for bankruptcy. B.C. residents who buy shares in Boundary Sawmill will get a 30 per cent refundable tax credit from the province. The lumber that originates in Midway will probably end up in distant, overseas markets, such as Australia and China, according to Vaagen Brothers. • ROC Holdings Ltd., a subsidiary of a Chinese company, has bought the Skeena Sawmill in Terrace. Jobs, Tourism and Innovation Minister Pat Bell said the longerrange goal is to have lumber produced by ROC flow into the supply stream of its parent company in China. “They build what they would call subdivisions but what we would call cities for 100,000 people,” said Bell following the April 4 announcement that West Fraser had found a buyer for its closed sawmill.

-PH TIJQNFOUT

Bell added that the shipments of log and lumber exports bound for China and Asia is starting to outstrip port capacity. This is a key issue with forestry unions, who have called for an end to raw log exports. They note that raw log exports have tripled since 2009, with the lion’s share headed to China. Thousands of Asian mills, using basic equipment and plenty of cheap labour, are cutting B.C. and Russian logs into lumber and slicing two-by-fours into higher-value products, according to the United Steelworkers. “ The result in B.C. is a jobless recovery,” according to Steve Hunt, whose United Steelworkers represents the province’s unionized forest workers.◆

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Blenz Master Franchise in Vancouver, Vancouver Island, Ontario & Alberta Blenz Franchises ........$139,900, $179K - $488,800 Steamrollers Franchise Vancouver .................................................................. $319K (Davie St.) Pollish Deli ..........................................................$63,900 Wired Monk Individual Franchise Opportunity Wired Monk .................. $135K, $169K, SOLD-$159K Wired Monk New Franchises - Vancouver ................................ $262K-$350K depending on location Sandwich Tree master franchise opportunity $275K Le Bistro Chez Michel .........................................$214,900 Crepes and Gelato ...................................................$97,600

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CHILLIWACK AVIATION PARK UNITS FOR SALE/RENT

A12 Lower Mainland INVESTOR ALERT Lotto 649, Turn 4.9 mill to 12.5 + mill, 18 lot subdivision zone SR-1 zoned for 1 acre in Langley BC, New sewer line is only a couple block away, this property is  at, gravel based, 10,000 sq ft building has potential income, only asking $4.9 Mil, email for details. 31 acres blueberry farm with 8 bed rm house 15 year old plant, last year crop was over 250,000.00 only 3.2 mill. Great investment 16.44 acres blueberry farm with 7200 sq ft new house made for 2 family only 2.5 mill. 5 acres out of ALR with over 8547 sq ft house and 2nd house have B & B potential income from 2nd property over $4500.0 per/ M, asking $3.9 mill.

AMARJIT GILL

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Michelle Watson 480-326-9520 michelle.watson@marcusmillichap.com

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Huge Price Reduction! 52 ACRE MOUNTAIN ESTATE 1.5 HRS TO BANFF ACROSS FROM PANORAMA SKI RESORT. Two 2,000 SF luxury Log Chalets. Invest, hold or develop further. Reduced by $1 million to $2,495,000 Details on website. www.TerryYoungHomes.com HEALTH FOOD STORE Thriving, well established business in busy Vancouver location, providing all health supplements and products. GROSS over $700,000 with 28% CAP. Secure investment plus growth potential. Call for INFO. Terry A Young 604-970-3808 1-800-665-1455 tayoung2011@gmail.com RE/MAX Crest Realty

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RICHARD PODGURSKI

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

Jerry Raczkowski 780-932-2121

Mike Sidhu 604-831-2500

&OR DETAILS PLEASE CALL

Campbell River Development Site

Total of 4 properties at 4th Reading, Plans Available, Prime location,

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s %QUIPMENT AND RAW MATERIALS STOCK INCLUDED s /WNER SELLING DUE TO HEALTH WILLING TO TRAIN s "USINESS ONLY

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Maple Ridge Reduced to 2 Million

NORTH VANCOUVER, BC 7%,, %34!",)3(%$ &!-),9 /7.%$ "53).%33 $195,000

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Crest Realty (Westside)

The site: 1430 South Island Highway is approved for 74 units’ quarter share Resort Spa with the building permit in place. Call Jerry Raczkowski for more details 604-602-1111 RE/MAX Crest Westside www.VancouverInvestor.ca

LORNE CHERNOCHAN 604-880-0550 (cell) lorne@chernochan.com www.chernochan.com CALL OR EMAIL FOR A FULL INFO. SET AFFORDABLE = $598,000 LAND WITH OT REVENUE BUILDING STRATEGIC NORTH RICHMOND LOCATION HOLD AND REDEVELOP INVESTMENT *************************************************************** $645,000 = $173 PSF BEST VALUE INDUSTRIAL STRATA NORTH RICHMOND 3716 sf = 2,850 sf warehouse with GRADE + DOCK; showroom + 2nd oor ofďŹ ces with separate entrance *************************************************************** LEASE INDUSTRIAL STRATA 1465 sf in SOUTH RICHMOND 1,465 sq ft unit with a large furnished private ofďŹ ce + small warehouse (high + low ceilings) Fully AC + 3 phase power + multiple line phone system. Perfect for sales ofďŹ ce *************************************************************** LEASE INDUSTRIAL STRATA 2,555 sf NORTH RICHMOND Ground level corner with 1,055 sf of ofďŹ ce/ showroom + 1,500 sf of warehouse. Good corporate image. Grade load, 22’ ceilings, good parking. I-3 zoning. LOW LEASE RATE OF $10 PSF!!

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COMMERCIAL REAL ESTATE, FRANCHISES & BUSINESS OPPORTUNITIES

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Lower Mainland A13

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

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

RICHMOND

s -AIN 'EORGIA STRATA CONCRETE BUILDING $7.8 Million s %AST "ROADWAY NEAR +INGSWAY SITE W INCOME $5 Million

161 ACRE CRANBERRY FARM Fully equipped to process & pack for fresh market. 106 acres developed & producing with another 29 acres ready to plant. Low taxes, 3 phase power, potable well water. Expected revenue for 2011: $1,800,000.00

RICK LUI 604-644-6182 rick@naicommercial.ca

DOUG BOSE 604-524-3641 dbose@naicommercial.ca

s 3TRIP -ALL NEAR ,ANSDOWNE $11 Million s )NDUSTRIAL BUILDING REZONE POTENTIAL SOLD $5 Million s )RONWOOD INDUSTRIAL SITE W INCOME $2.8 Million s $EVELOPMENT SITE &RANCIS 2AILWAY $4.5 Million

VANCOUVER

www.naibusinesses.ca NIGHTCLUB BAR & GRILL (Kootenays) NEW LISTING The most successful club in the Kootenays with award winning lighting system. One of the largest licensed establishments in BC with popular restaurant grill. Business and property ...................................... $1,750,000 CONSTRUCTION RELATED (Fraser Valley) NEW LISTING Specialized business within construction industry for 30 years. Over $1.6m in sales. Easy to operate ....... $850,000 UNIQUE HOME IMPROVEMENT BUSINESS (Fraser Valley) NEW LISTING Manufacturer of custom designed sunrooms OFFER and patios sold U directly NDERto commercial and residential users ................................................. $390,000 inc equip AWARD WINNING MILLWORK BUSINESS (Lower Mainland) Major clients in Canada and USA. Revenue in excess of $4.5m...................................................... $2.0m inc equip VANCOUVER DINNER CRUISE BUSINESS REDUCED In business for over 15 years operating two yachts from Downtown Vancouver. Nets $310,000 ... $2.5m inc yachts STRUCTURAL STEEL FABRICATING Over 15 years in LD business in construction Revenue forecast over SOindustry. $1m......................................................................... SOLD METAL FABRICATING COMPANY (Burnaby). Well established business with strong earnings history and healthy margins ....................................... $1.8m inc equip MEAT & DELI BUSINESS (Okanagan) 12 years in business. $1m in sales annually for 4 yrs. Well equipped. Good lease in place............... $550,000 plus inv

EQUIPMENT RENTALS Metro Vancouver * Long established * Very ProďŹ table * Fully managed *$2.4mil annual sales .....Shares: $2.8mil DOLLAR STORE FRANCHISE Fraser Valley * Since 1999 * High exposure in large mall * $1.5mil annual sales ................................ $358,000+Invt. EMPLOYMENT AGENCY Metro Vancouver * Temp & Perm placements * Establ. 10+ years * Management in place * $1.2mil annual sales * Some vendor ďŹ nancing available .....................$319,000 ICE CREAM FRANCHISE Vancouver * English Bay location! * State of the art facility * Classic, old fashioned, homemade ice-creams * $712,000 annual sales ........................ Shares $598,000

Ted Stellakis 604-691-6692 stellakis@naicommercial.ca B U S I N E S S E S FO R S A L E

HAIR & BEAUTY SALON (Lower Mainland). Very successful full service beauty salon in trendy area. Sales over $460,000. 10 staff. No rentals ................................... $258,000 + inv

MECHANICAL SHOP (North Vancouver) ,ONG ESTABLISHED SQ FT BAYS MECHANICAL SHOP IN VERY CONVENIENT AREA 'OOD LEASE ./) ..............................................................$98,000

INDUSTRIAL PROPERTY INVESTMENT (Delta) R 44,366 sq.ft industrial inETilbury. 1.62 Acres. Fully R OFF NDEfacility U leased. 6.8% Cap rate .................................... $4,390,000

FURNITURE AND CUSTOM BUILT ARTWORK & ACCESSORIES 6ANCOUVER #ANADIAN MADE UNIQUE

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delon@naicommercial .ca

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BURNABY OFFICE/RETAIL

s &RASER 2IVER VIEW s SF s

s 3& s 0RIME ,OUGHEED . 2OAD CORNER s 03& .ET

COQUITLAM OFFICE

NEW WEST OFFICE

s 0ROFESSIONAL CENTRE s SQ FT s .EAR 3KYTRAIN

s 6ARIOUS ,OCATIONS s SQ FT

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

FOR SALE - KAMLOOPS, BC 2OYAL !VENUE SUITES THREE S TWO S ONE S -AJORITY OF SUITES RENOVATED NEW ROOFS ACRES (OT WATER HEAT GAS l RED BOILER PER DOOR !SKING

CHRIS WIESER 604-691-6662

AND UPSCALE HOME DĂ?COR AND FURNISHINGS #ORNER LOCATION WITH PATIO AROUND AT VERY BUSY INTERSECTION 5NDERGROUND CUSTOMERS PARKING...............Asking $280,000 + Inv. BLUEBERRY FARM (Abbotsford) 3ITUATED ON PRIME -ATSQUI m ATS 4HIS WELL MAINTAINED FARM WITH NEW SQ FT HOUSE OFFERS MATURE "LUECROP AND $UCE 3ET UP FOR MA CHINE PICK #OMPLETE DRIP IRRIGATION SYSTEM ......... $1.98Mil MOTEL PUB LIQUOR STORE (Vancouver Island) HR FROM .ANAIMO BY THE LAKE ACRE (ERITAGE "LDG ........................................... NEW LISTING $2.9Mil RESIDENTIAL INVESTMENT (Vancouver) 0RIME +ITS 0OINT SQ FT HALF DUPLEX WITH SQ FT PATIO 5NOB SOLD STRUCTED VIEW OF 6ANIER 0ARK AND HIGH CEILING CROWN MOLD INGS AND SOLID MAPLE HARDWOOD m OORS #OULD BE LEASED AT MONTH.........................................................$1.088Mil COMMERCIAL / RESIDENTIAL PROPERTY (Gibsons) -IXED USE )NVESTMENT # 2 SQ FT COMMERCIAL BUILDING ON ACRE PROPERTY 4HIS PROPERTY LD UNSURPASSED VIEWS OF THE SO OFFERS EXCELLENT POTENTIAL WITH 4RAIL )SLAND 0OTENTIAL USE EXISTING BUILDING AS A NEW START UP BUSINESS BUILD A DUPLEX IN THE BACK AREA OR DEVELOP ENTIRE PROPERTY ...................................................... $438,000

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CARIBOO WATERFRONT RETREAT UĂŠ UĂŠ UĂŠ UĂŠ

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TIMBERED RETREAT WITH RIVER AND WATERFALL UĂŠ UĂŠ UĂŠ UĂŠ

ÂœĂ€ĂŒÂ…iĂ€Â˜ĂŠ ĂŠÂ?ÂœV>ĂŒÂˆÂœÂ˜ĂŠĂŠĂŠ ÇnĂŠ>VĂ€iĂƒĂŠĂœÂˆĂŒÂ…ĂŠ/ˆ“LiĂ€ ,ÂˆĂ›iĂ€ĂŠĂ€Ă•Â˜ĂƒĂŠĂŒÂ…ÂœĂ•}Â…ĂŠÂˆĂŒĂŠĂœÂˆĂŒÂ…ĂŠĂžÂœĂ•Ă€ĂŠÂœĂœÂ˜ĂŠ£äävÂœÂœĂŒĂŠÂłĂ‰Â‡ĂŠĂœ>ĂŒiĂ€v>Â?Â? *Ă€ÂˆÂ˜VÂˆÂŤ>Â?ĂƒĂŠÂœÂ˜Â?ÞʍÂ?i>ĂƒiĂŠqĂŠ œ˜wĂŠ`iÂ˜ĂŒÂˆ>Â?ÂˆĂŒĂžĂŠ>}Ă€ii“iÂ˜ĂŒĂŠĂ€iÂľĂ•ÂˆĂ€i`

ĂŠ ",ĂŠ*, ĂŠ ĂŠ / -

TED WEIBELZAHL 604-514-6825 or 1-800-890-9855 tedw@naicommercial.ca

Travel Centre & Truck Stop, Merritt UĂŠÂŁx]nääĂŠĂƒvĂŠLĂ•ÂˆÂ?`ˆ˜}ĂŠÂœÂ˜ĂŠ{°xĂ“ĂŠ>V°ĂŠLiĂƒÂˆ`iĂŠ ÂœÂľĂ•ÂˆÂ…>Â?Â?>ĂŠ ˆ}Â…Ăœ>Ăž UĂŠ Ă•ĂƒÂŽĂžĂŠ"ˆÂ?]ĂŠ ÂœÂ˜Ă›°ĂŠ-ĂŒÂœĂ€i]ĂŠ,iĂƒĂŒ>Ă•Ă€>Â˜ĂŒ]ĂŠ Ă€iĂžÂ…ÂœĂ•Â˜`ĂŠ Ă•ĂƒĂŠ iÂŤÂœĂŒ UĂŠ Ă€ÂœĂƒĂƒĂŠ->Â?iĂƒĂ†ĂŠfÇ°ĂŽ UĂŠ ĂƒÂŽÂˆÂ˜}ĂŠf{]{xä]äää Auto Road Self Storage, Salmon Arm UĂŠ6iĂ€ĂžĂŠĂƒĂŒ>LÂ?iĂŠLĂ•ĂƒÂˆÂ˜iĂƒĂƒĂŠĂœÂˆĂŒÂ…ĂŠÂŤ>Ă›i`ĂŠÂ?ÂœĂŒ UĂŠ Ă€ÂœĂƒĂƒĂŠ,iĂ›°ĂŠf£™Î]äää]ĂŠ iĂŒĂŠ*Ă€ÂœwĂŠĂŒĂŠfÂŁ{ä]äää UĂŠ ĂƒÂŽÂˆÂ˜}ĂŠfÂŁ]ĂˆĂ‡x]äää 42 Suite Apartment Building, Kamloops UĂŠ Ă€ÂœĂƒĂƒĂŠ ˜Vœ“iĂŠfΙ£]äää]ĂŠn°ĂŽÂŻĂŠ >ÂŤĂŠ,>ĂŒi ĂŠĂŠĂŽ{ĂŠ-Ă•ÂˆĂŒiĂŠ ÂŤ>Ă€ĂŒÂ“iÂ˜ĂŒĂŠ Ă•ÂˆÂ?`ˆ˜}]ĂŠ >“Â?ÂœÂœÂŤĂƒ UĂŠ Ă€ÂœĂƒĂƒĂŠ ˜Vœ“iĂŠfĂ“xĂˆ]nää]ĂŠ " ĂŠfĂ“äĂ“]äää Mobile Home Park, Kamloops UĂŠ Ă€ÂœĂƒĂƒĂŠ,iĂ›°ĂŠfÂŁĂˆĂˆ]äää]ĂŠ >ÂŤĂŠ,>ĂŒiĂŠÂœvÊÇ°{ÂŻ UĂŠ ĂƒÂŽÂˆÂ˜}ĂŠfÂŁ]ÇÓx]äää Ace Self Storage, Kamloops UĂŠ Ă€ÂœĂƒĂƒĂŠ,iĂ›°ĂŠfĂ“ĂŽĂˆ]äää]ĂŠ iĂŒĂŠ*Ă€ÂœwĂŠĂŒĂŠfÂŁĂŽĂŽ]äää UĂŠ ĂƒÂŽÂˆÂ˜}ĂŠfÂŁ]Çää]äää

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

COURT ORDERED SALES 397 Acre Development Site, Sechelt BC s :ONED #$ MIXED USE RESIDENTIAL COMMERCIAL RECREATIONAL s !PPROX FEET OF WATERFRONT ON 0ORPOISE "AY $22,250,000 459.1 Acre Development Site, Cranbrook BC s :ONED #$ 5( 2 ALLOWING FOR LOW MEDIUM DENSITY RESIDENTIAL s 3URROUNDING 'ARY 0LAYER DESIGNED GOLF COURSE $22,300,000 3,070 sq. ft. Retail Commercial Development, Pemberton BC $1,690,000 s 'AS BAR -AC$ONALD S ON SITE 2,620 sq. ft. Medical OfďŹ ce Building, Vancouver BC s :ONED # ALLOWING FOR RETAIL AND COMMERCIAL USE $1,100,000 165 Acre Development Site, Abbotsford BC s 3EVEN PARCELS TOTALING ACRES Price Reduced: UNDER CONTRACT

INDUSTRIAL & DEVELOPMENT SITES

EURO DELI (Coquiltam) 7ELL ESTABLISHED PROF ITABLE DELICATESSEN WITH SMOKE HOUSE 'OOD LEASE .. ............................................Assets $173,000 plus Inv.

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

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

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

Committed to Canada. Connected to the World.

A14

www.westerninvestor.com JULY 2011WESTERN INVESTOR

COVER Prized in the city, waterfront is a bargain along the B.C. coast with some prices at 2004 levels

$IBOHJOH UJEF FRANK O’BRIEN WESTERN INVESTOR

Photo: Onni

(RIGHT) False Creek continues to attract developers despite high land prices. (TOP) Classic oceanfront cottage near Ladysmith on Vancouver Island listed for $399,900 – 40 per cent down from the peak.

Photo: Onni

“There is a big gap between vendor expectations [of prices] and the market reality,� said Mark Lester of Colliers International’s Unique Properties group, which often markets high-end waterfront property. Today’s B.C. coastal market, he said, is characterized by a huge number of listings and flat sales. “The Gulf [Islands] is not moving at all,� Lester said, adding that the sales downturn is seen in both raw waterfront land and in potential income-generating property, such as fishing lodges. It is a far cry from four or five years ago when there was a frenzy for any type of waterfront real estate along the B.C. coastline, a trend that led to some poorly thought out commercial projects, he said. Lester said the withdrawal of Alberta and U.S. buyers following the 2009 recession has meant waterfront vendors must now depend on a smaller – and less wealthy – pool of domestic buyers, and he said prices have fallen to what could be record lows. He points to one property, not a Colliers listing, on DeCourcey Island near Nanaimo where one acre of serviced waterfront is up for sale for $199,900. “Look at this long term,� Lester said, “and it could be a great investment.� Other Vancouver Island realtors agree, noting that waterfront prices on Quadra Island and even Vancouver Island are now in the bargainbasement bin.

Photo: Coast Realty Group

ÂĄ:

Lorne Gait of Coast Realty Group in Ladysmith is offering a classic old oceanfront cottage on a 7,600-square-foot waterfront freehold lot for $399,900, 40 per cent below what the property may have sold for back in boom times. He said there are other waterfront parcels on the east side of Vancouver Island now selling for $550,000 to $750,000, which would have started at $850,000 in 2006.

2VBESB *TMBOE

Waterfront prices on Quadra Island are now close to 2004 prices, agreedNancy Allweather of Discovery Islands Real Estate on Quadra. “It’s all based on supply and demand,� she said, “and now there is more supply than demand.� Discovery has “ideal waterfront cottages� listed from under $600,000, including a onequarter-acre lot with a 2,000-square-foot house at $459,000. At the Bold Bay waterfront development on Quadra, prices start at $454,000 for five acres of road-access oceanfront, complete with a new 770-square-foot timber-frame beachfront cottage. Meanwhile, the 620-acre Cape on Bowen Island development started marketing last month, offering 29 10-acre waterfront lots at $2 million each, “dramatically below� what

)PX XBUFSGSPOU QSJDFT IBWF DIBOHFE Market

Photo: Parklane Homes

ou can’t go wrong buying waterfront,� has been a real estate mantra in B.C. for decades, but this year is seeing a split in the market: unprecedented demand in Metro Vancouver, but continued signs of a prices falling in the hinterland.

2008

2011

BRITISH COLUMBIA: North Okanagan South Okanagan Tofino Ucluelet Salt Spring Island

$1,500,000 $1,000,000 $869,000 $649,000 $1,300,000

$995,000 $800,000 $825,000 $529,000 $669,000

ALBERTA: Sylvan Lake

$1,250,000

$800,000

SASKATCHEWAN: Qu’Appelle Lakes

$300,000

$500,000

$250,000

$280,000

MANITOBA: Lake Winnipeg

Vancouver mayor Gregor Robertson opens the River District project.

they would have been priced at a few years ago, according to a spokesperson for the developer, Leeda Development Group. A Royal LePage survey of B.C. waterfront cottage sales shows that prices have fallen on other waterfront parcels close to Vancouver. On the southern Sunshine Coast, a 35-minute ferry ride from West Vancouver, waterfront prices are off at least 20 per cent to 30 per cent

*Starting price for a three-bedroom, winterized recreational cottage on a standard-sized waterfront lot. Source: Re/Max Recreational Property Report 2011

from the peak, local realtors say. Recently, the price of a 1.5-acre land-access waterfront parcel with a dock and a small cabin near Sechelt was cut by nearly $30,000 to $299,500. Some waterfront lots in popular Pender Harbour are also priced under $300,000. Pacific Spirit Properties ’ 104-unit Watermark condominium project on the Sechelt waterfront reduced prices 5 per cent

-PXFS .BJOMBOE

DEVELOPMENT SITES

"$3& # $ *4-"/%

Fort St. John 6-Plex 7.75% cap could easily be 8.38%

s &ROM TO TOWNHOUSE OR CONDO SITES IN ,ANGLEY 3URREY OR !BBOTSFORD s &ROM TO UNIT MIXED RES UNITS s ACS RES SUBDIVISION SITE NR %DMONTON 'REAT PROlT POTENTIAL s 3OME ,ANGLEY SHORT TERM HOLDING ACREAGES

8)&3& JO UIJT 803-% DBO ZPV PXO B 7JSHJO GPSFTUFE JTMBOE XJUI ZFMMPX DFEBS /FBS "NFOJUJFT 1SPUFDUFE .PPSBHF *ODSFEJCMF GJTIJOH 6OTVSQBTTFE #FBVUZ 'PS NPSF EFUBJMT QIPUPT FNBJM

RAY LEWIS West Coast Realty LANGLEY

604-812-9733

FOR SALE FED GOV TENANT (DFO) 5,240 sq. ft. 0.35 Acre Free Standing Concrete Block Good Van lsl. Location Asking: $749,000 (7.6% CAP)

(250) 287-2200 COURTESY TO BROKERS

(SFH #VDIBOBO -PSOF (BJU

HCVDIBOBO!DPBTUSFBMUZ DPN PS UPMM GSFF

$484,500 “Boomtown!â€? UĂŠ ÓÊ·Li`ĂŠĂ•Â˜ÂˆĂŒĂƒ]ĂŠ{Ê£‡Li`ĂŠĂ•Â˜ÂˆĂŒĂƒ°ĂŠ UĂŠ ˜`ÂˆĂ›Âˆ`Ă•>Â?ʓiĂŒiĂ€ÂˆÂ˜}°ĂŠfÎÇääĂ‰Â“Âœ°ĂŠĂ€iÂ˜ĂŒ°ĂŠ UĂŠ ÂœÂœÂ“ĂŒÂœĂœÂ˜ĂŠĂœĂ‰ĂŠÂ“>ĂƒĂƒÂˆĂ›iĂŠÂ˜>ĂŒĂ•Ă€>Â?ĂŠĂŠ }>ĂƒĂŠĂ€iĂƒiÀÛiĂƒ]ĂŠÂ˜iĂœĂŠÂ…ÂœĂƒÂŤÂˆĂŒ>Â?]ĂŠĂŠ ĂƒÂˆĂŒiĂŠÂş Ê`>“ÊLĂ€ÂˆÂ˜}ĂƒĂŠÂ?ÂœĂœĂŠĂ›>V>˜VĂž° Contact: 1-866-855-0800 Travis Bowman Group www.travisbowmanrealty.com

Call Today For Your Management Proposal!!

Property Management 7 7

Private Islands FOR SALE

View BCPRIVATEISLANDS.COM WARK REALTY INC. 604.946.8710

LIST

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

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

1-800-661-6988

A15

'SBTFS 3JWFS

In the Vancouver region the cache of waterfront remains strong, with large developers starting some of the largest riverfront projects ever seen. The biggest example is River District, a 130acre residential and commercial development on the Fraser River in south Vancouver. Once known as the East Fraser Lands, the site is the location of the former Canadian White Pine mill and one of the last pieces of undeveloped waterfront land in the city. ParkLane Homes and Polygon, two of B.C.’s largest home builders, will begin construction this year. The River District develtopment plan features a mix of townhomes, low-and mid-rise apartments and highrise towers. The future phases of the community will also include shops, a grocery and small formattretail, a community plaza, two new schools and a community centre. The City of Vancouver and ParkLane have

(TOP) River Green by ASPAC is setting alltime condominium sales and price records in Richmond. (RIGHT) The 130-acre River District waterfront development will transform the Fraser River in south Vancouver.

already unveiled plans for the 6,000-squarefoot community centre. Vancouver Mayor Gregor Robertson, who attended the River District launch, called the announcment “a momentous occasion� that opens “a new chapter in the story of Vancouver. This remediated brownfield site, which stretches a kilometre-and-a-half along the banks of the Fraser River, is getting a new identity. This will be a large-scale, mixed-use community with more than 7,000 residential units built in the coming years—a really exciting addition to the city, and reconnecting us to our river and The opening weekend of sales included 28 the long history that we have here,� the mayor homes that sold for more than $1 million each: said. an average price-per-square foot of more than $700. The opening weekend also saw four 3JDINPOE penthouses sell at more than $3.4 million In Richmond, a massive luxury condominium each (about $1,000 per square foot), setting a complex is being built around the Olympic Richmond sales records for both single condospeedskating oval on the Fraser River water- minium sale prices and price per square foot. front. The 25 buildings of the River Green com- 'BMTF $SFFL plex will cover 11 hectares on the south shore On False Creek in Vancouver, condo sales at of the river on land once owned by theCity of the former Olympic Village finally came to Richmond, which sold it for $145 million. life after prices were adjusted downward. The ASPAC Development sold out the first False Creek waterfront has since attracted other 150 condominiums its initial tower to set a big developers. Richmond sales record. The sale of the first This spring Onni Developments unveiled tower more than covered the cost of land for its Central, a “horizontal highrise� of three towthe entire site. Aspac plans to build six more ers that includes luxury condominiums, retail towers just in the first phase. space and an office tower at the eastern edge of

Photo; ParkLane Homes

in effort to complete 30 pre-sales by the end of June. As of June 15, 11 had sold at an average of $367 per square foot. “Sunshine Coast prices are low compared to other years,� said Joel O’Reilly, a local agent with Royal Lepage, adding that the large amount of listings and stable prices “represent an incredible buying opportunity.� According to the Royal LePage survey, most investors agree, with 89 per cent of Canadians surveyed saying that buying a vacation home is a good investment. The annual Re/Max Recreational Report, released this spring, says this is the summer to get deals in B.C., as prices are at or near bottom. “Opportunities that haven’t been seen in years are now presenting themselves, especially on the West Coast,� said Elton Ash, regional executive vice-president, Re/Max of Western Canada. “Prices are down as much as 20 per cent from peak levels reported in 2006-2007, bringing ownership within reach to many potential purchasers. The strengthening oil sector has also brought Albertans back into the mix, driving demand for both local and coastal B.C. properties. 2011 could be the turning point.�

Photo: ASPAC

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

False Creek. The building is a tower laid horizontally across two smaller supporting towers. The top tower links the two supporting towers, which are parallel to each other, and spans a 25,000-square-foot central courtyard. In all, the LEED development will rise 18 or 19 storeys and offer 304 residential units in two towers, including the horizontal section. Final Vancouver city approval was expected in July with completion by 2013 at the earliest. For those vendors holding waterfront property outside of the Lower Mainland - and as far east as Alberta’s Sylvan Lake - the return of rollicking demand and higher prices would be welcomed. While both Royal LePage and Re/Max forecast a strong recovery starting this summer, vendors may recall that the same predictions were made in both 2009 and 2010.◆

-PXFS .BJOMBOE Residential Private & Second Mortgages FOR SALE PORT COQUITLAM 4 LOTS APPROVED FOR SUBDIVISON

$1,295,000

LANGLEY

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

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

ERIC FUNG Amex - Fraseridge Realty

604 657 6448

t /FFE RVJDL GVOET t #BE $SFEJU /P $SFEJU t %FDMJOFE CZ #BOL t -PX %PDVNFOUBUJPO -BSHF 1SJWBUF .PSUHBHF 'VOET "WBJMBCMF $BMM /PX GPS B 2VJDL "QQSPWBM

AJIT HUNDAL, AMP Telephone: 604-614-6899 Toll Free: 1-866-614-6899

Roaron Construction “Your One Stop Shop�

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

604-888-7818

Call Now or Email roger@roaron.com

www.roaron.com

FLEETWOOD

33 SUITE APARTMENT BLDG

Business Opportunity

$1,499,000

1835 McLean Drive, Vancouver BC Far Below Market Rents $6,400,000

Mushroom Farm For Sale

BeneďŹ ts I provide at My Cost to Owners of Properties I list include:

Includes:

4 LARGE LOT SUBDIVISION

MAPLE RIDGE

16 ACRES + LARGE HOME

$2,100,000

Please visit our website or call for more details.

monarkinvestments.ca

604-592-7250

Financing Available. Potential Trades.

UĂŠ*Â…>ĂƒiĂŠÂŁĂŠ Â˜Ă›ÂˆĂ€ÂœÂ˜Â“iÂ˜ĂŒ>Â?ĂŠ ˜>Â?ĂžĂƒÂˆĂƒ UĂŠ Ă•ÂˆÂ?`ˆ˜}ĂŠ œ˜`ÂˆĂŒÂˆÂœÂ˜ĂŠ ĂƒĂƒiĂƒĂƒÂ“iÂ˜ĂŒĂŠ,iÂŤÂœĂ€ĂŒĂŠ

,AND s "UILDINGS s %QUIPMENT s "USINESS

(Professional Engineer or a qualiďŹ ed inspector, depending on the size of the property)

Contact: NEAL IVERSON

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

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

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

RICHARD KENT WOLSTENCROFT

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

A16 Lower Mainland

www.westerninvestor.com JULY 2011WESTERN INVESTOR

Macdonald Commercial Real Estate Services Ltd.

JORDAN ENG

FRASER VALLEY PROPERTIES | VIC SANDHAR & MIKE GREWAL PREC

(604) 728-0883

FOR SALE

jordaneng@telus.net

FOR LEASE

7767 128th St., Surrey

20178 96 Ave., Langley

Court Ordered Sale D UCE 1251-1271 Homer St. D E R

Downtown development site. 75' x 122' Asking $5,550,000

•

7767 128th STREET, SURREY:

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

17351 16th AVENUE, S.SURREY:

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

29352 FRASER HWY, ABBOTSFORD:

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

For Lease 485 Commercial Dr at Pender 9,500 sf. Ideal for food service manufacturing. Retail exposure. Corner location. Close to DT and transport routes.Low rents.

•

574 SUMAS WAY, ABBOTSFORD:

•

20178 96th AVENUE, LANGLEY:

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

Various sized units available

•

Occupancy: Fall 2012

Excellent location near major highways in Langley, BC

•

Retail units also available, including one drive-through location

•

•

Lease rates starting at $20.00

7.9 acres of agricultural land Asking $949,000 •

8220 120th STREET, SURREY:

Âą 27,000 sq. ft. high exposure retail/commercial redevelopment site. Stand alone Âą 12,000 sq. ft. building currently set up for restaurant/banquet hall business. Asking $1,750,000

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

MAKE MORE DEALS Market your listings in the Western Investor. Thousands of private investors and real estate professionals use the Western Investor to help guide their investment dollars into profitable businesses. AUGUST AD DEADLINE JULY 11TH

COURT ORDERED SALES | BRIAN TATTRIE & GARY KHAN

Parking Lot For Lease

• •

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

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

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

FOR SALE: KAMLOOPS BOUTIQUE HOTEL | BRIAN TATTRIE •

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

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

Advertise your listings in our special

)05 1301&35*&4 feature.

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Recreational Real Estate ADVERTISING FEATURE: • Limited spaces • 4-colour ads • Special rates Ăˆä{Â‡ĂˆĂˆÂ™Â‡nxääĂŠUÊ£‡nääÂ‡ĂˆĂˆÂŁÂ‡ĂˆÂ™nn advertise@westerninvestor.com

Land, building & business for sale Approx. 10 acres in ALR. List Price: $1,975,000 PRICE REDUCED: $1,925,000 CONTACT: GARY KHAN | 604.714.4799

Do you have a

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Kamloops 67-room boutique hotel

Report: Prairie Horizons Feature: LEED and Green Finance: take out and construction loans The new MLS system Franchise News Recreational Properties Regional Roundups: BC: Cowichan Valley AB: Spruce Grove SK: Swift Current Spotlight: Steinbach, MB

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

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

Vancouver Office | 604.736.5600 Fraser Valley Office | 604.590.2444

www.macdonaldcommercial.com

Subscribe 1-800-661-6988

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DBMM UPMM GSFF

www.westerninvestor.com $PNNFSDJBM 3FBM &TUBUF 'SBODIJTFT #VTJOFTT 0QQPSUVOJUJFT

Lower Mainland A17

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

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

Overwhelming Views

Why Harrison?

Nestled against Southwestern British Columbia’s magniďŹ cent mountains and the sandy beaches of Harrison Lake, Harrison Village is your local destination ďŹ lled with a rich history and natural wonders, including our world famous BC Hot Springs. Known for its leisurely days and friendly ways, offering nature, art, entertainment shopping and food. s BEDROOMS BATHROOMS s SQ FT OF LIVING SPACE s SQ FT GUEST SUITE s 3HOWPIECE CAR GARAGE s FEET OF WATERFRONT

s 3TAMPED CONCRETE BOAT LAUNCH s FEET PRIVATE BOAT DOCK s 26 PARKING s #OVERED HOT TUB DECK

$1,888,000 Virtual tour at www.6565-rockwell.ca

"OB 0LOWRIGHT $ON 3PICE s 2% -!8 "/" 0,/72)'(4 2%!,49 +RISTEN /g#ONNOR s 2% -!8 .9$! 2%!,49 6EDDER 2D #HILLIWACK "# 6 2 ' www.bobplowright.com bob@bobplowright.com s

Excellent Income Property in downtown Powell River. Ocean view building with retail & residential income plus large, potential pay-per-use parking lot adjacent to ferry terminal. $429,900 Ideal Commercial Building Site

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

In-Town

Oceanfront

Property

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

MagniďŹ cent Waterfront Acreage

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

Incredible Location! 132 acres just past

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

Ideal Agri-Business Opportunity

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

Great Investment Property 30 acre

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

Established investment company seeking to acquire properties in major BC and Alberta markets. WE BUY: - Strata titled multi-family and commercial buildings - Bulk condominium units including "fractured stratas"

Aroma's Gourmet Coffee & Lunch

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

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

Your Dollar Store with More Clean,

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

- Vacant buildings - Unsold developer inventory - Multi-family and commercial foreclosures

ROSE

LIZ

MARRA

CHAN

Abouttowne Realty Corp., Brokerage

Ăˆä{Â‡ĂˆÂŁÂ™Â‡Ă“Â™Ă‡ĂŽĂŠUʙäx‡Î™™‡£Ó™Ç

604-671-8371

rosemarra@remax.net www.rosemarra.com

lizchan@remax.net www.rosemarra.com

STAND ALONE HERITAGE OFFICE BUILDING FOR SALE prestigious Class A with modern amenities for a professional service. Good for Architect, Lawyer, International Trade OfďŹ ce/Consulate etc. Easy to access to D/T Vancouver & YVR. $4.5 MILLION DEVELOPMENT SITE in growing and sought after location for 3 major Hi-Rise towers in Surrey Central. $15 MILLION HIGH DEMAND PROJECT WITH FUTURE PHASES +/- 600 unit high – rises in excellent central location. Need equity investors or joint venture. Open for discussion with signed NDA in place. DESPERATELY NEEDED ready to build MULTI-FAMILY PROJECTS from 100 units and up in METRO VANCOUVER and METRO TORONTO RE-ZONABLE DEVELOPMENT SITES commercial or residential in LOWER MAINLAND, FRASER VALLEY and GREATER TORONTO AREA

R+L Marketing Strategies Group

- Assets with deferred maintenance

Each OfďŹ ce is Independently Owned and Operated.

Quick, straight forward closing.

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

Land Development & Project Marketing Specialists

SITE FOR A MAJOR HOTEL along with residential condos and commercial component in D/T Vancouver or existing hotel for renovation. Very serious buyer. Needed ASAP

- OfďŹ ce and light industrial

Contact: Joelle Wendt, CFA Upcountry Properties Group

SERVING OUR CLIENTS FROM EAST TO WEST & INTERNATIONALLY

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Do you have a

Advertise your listings in our special

)05 1301&35*&4 feature.

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Recreational Real Estate ADVERTISING FEATURE:

westerninvestor.com news archives reports updates

• Limited spaces • 4-colour ads • Special rates

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A18 Lower Mainland

www.westerninvestor.com JULY 2011WESTERN INVESTOR

Prairie Horizons SPECIAL REPORT: ALBERTA, SASKATCHEWAN, MANITOBA Western Investor August 2011 What’s on the horizon for commercial real estate in the prairies? What factors in the economy are having impact? Where are the opportunities? Prairie Horizons will look at the rise in and the outlook for commercial real estate prices as the resource sector roars to life across the Prairie provinces. Promote your business, investment opportunity, city or town across western Canada.

PRAIRIE HORIZONS REPORT Advertising deadline: Monday July 11ÊÊUÊÊ-«iV > ÊÀ>ÌiÃÊ V Õ` }ÊV ÕÀÊ>«« ÞÊÊUÊÊ*ÕL V>Ì \Ê7iÃÌiÀ Ê ÛiÃÌ ÀÊ Õ}ÕÃÌÊi` Ì

Media Kit On-Line @ www.westerninvestor.com

call toll free 1-800-661-6988 604-669-8500

Sea to Sky/Sunshine Coast Region A19

WESTERN INVESTOR JULY 2011

SQUAMISH INVESTMENTS

<DA9:C DEEDGIJC>IN Add`^c\ [dg V a^[Z X]Vc\Z4 How about owning and operating your own Pub and Motel? 110 seat Mineshaft Pub & 10 room Motel is located in beautiful Bralorne, BC, approx. 110km west of Lillooet and 50km north of Pemberton. *..!%%%

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

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

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

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

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

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

:g^c BX8VgYaZ Hi^Za$ A^hV @dgi]Vah +%)".%*"-,%RE/MAX Zg^c5bnhZVidh`n#Xdb Sea to Sky Real Estate * " 7 ĂŠ , 6 , ] ĂŠ

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

",ĂŠ- ĂŠfĂŽĂˆÂ™]™ää

QUALITY SERVICE QUALITY HOMES QUALITY PEOPLE

UÊ2 BEDROOMS / 2 BATHROOMS UÊ1/16 OWNER OF 80 ACRES OF COMMON PROPERTY UÊOVER 1 ACRE LAND PARCEL UÊ100’ SHARED DOCK / MARINA UÊBEST CRABBING AND PRAWN FISHING AROUND! APPROX. 20 MINUTES VIA BOAT TO SQUAMISH, HORSESHOE BAY OR GIBSONS! NESTLED ON THE SHORES OF HOWE SOUND, OVERLOOKING A BEAUTIFUL ESTUARY WITH SANDY BEACH. SOAK IN THE 6’ WOOD - FIRED HOT TUB. IDEALLY SITUATED TO ENJOY STUNNING OCEAN VIEWS. PERFECT OPPORTUNITY TO PURCHASE A REVENUE GENERATING INVESTMENT, FAMILY RETREAT, OR A SERENE OASIS TO SIMPLY UNWIND AND RELAX. FURNISHINGS INCLUDED. OPTION TO PURCHASE A HALF (50%) INTEREST IN THE PROPERTY FOR $190,000.

Martin Sprenkels

FOR SALE NEW PRICE $168,000 Well Established Clothing Boutique

For more info email kathybowes@remax.net

RE/MAX Powell River

KATHY BOWES Direct line 604-483-1633 CALL (anytime) www.kathybowes.com

$879,000

Commercial building with two excellent tenants. Prime location on main street with upgrades & high visual presents. Triple net leases & good cap.

TERRY & PAM B R A CK E TT 1-800-895-4313

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

UĂŠ `i>Â?ĂŠ`ÂœĂœÂ˜ĂŒÂœĂœÂ˜ĂŠ >Ă€ÂˆÂ˜iĂŠĂƒĂŒÂœĂ€ivĂ€ÂœÂ˜ĂŒĂŠ Â?ÂœV>ĂŒÂˆÂœÂ˜ĂŠĂœÂˆĂŒÂ…ĂŠÂ?ÂœĂŒĂƒĂŠÂœvĂŠÂŤ>Ă€ÂŽÂˆÂ˜} UĂŠ*ÂœĂƒÂˆĂŒÂˆĂ›iĂŠĂ€iÂŤĂ•ĂŒ>ĂŒÂˆÂœÂ˜ĂŠ ‡Ê ÂœĂœĂŠÂœĂ›iÀ…i>`ĂŠÂ‡ĂŠÂœÂŤÂŤÂœĂ€ĂŒĂ•Â˜ÂˆĂŒĂžĂŠvÂœĂ€ĂŠiĂ?ÂŤ>Â˜ĂƒÂˆÂœÂ˜ UĂŠ ÂœĂž>Â?ĂŠVĂ•ĂƒĂŒÂœÂ“iÀÊL>Ăƒi UĂŠ-ĂŒi>`ÞÊ}Ă€ÂœĂœĂŒÂ…ĂŠĂ€>ĂŒiĂŠĂƒÂˆÂ˜ViĂŠĂ“ääĂŽĂŠĂŠĂŠĂŠ

ML#V4024655 Main Street, Sechelt

MCNAB CREEK -

UĂŠ"vviĂ€ÂˆÂ˜}ĂŠĂ€iĂŒ>ˆÂ?ĂŠĂƒ>Â?iĂƒ]ĂŠĂ€iÂŤ>ÂˆĂ€Ăƒ]ĂŠiÂľĂ•ÂˆÂŤÂ“iÂ˜ĂŒ]ĂŠ`ÂˆĂ›iĂŠ LÂœ>ĂŒĂŠVÂ…>Ă€ĂŒiĂ€]ĂŠ>ÂˆĂ€ĂŠwĂŠÂ?Â?ĂƒĂŠEĂŠ`ÂˆĂ›iĂŠĂŒĂ€>ˆ˜ˆ˜}ĂŠĂƒV…œœÂ?ĂŠ ĂœÂˆĂŒÂ…ĂŠÂœÂ˜ĂŠĂƒÂˆĂŒiĂŠÂŤÂœÂœÂ?° UĂŠ->Â?iĂŠÂˆÂ˜VÂ?Ă•`iĂƒĂŠÂˆÂ˜Ă›iÂ˜ĂŒÂœĂ€ĂžĂŠEĂŠiÂľĂ•ÂˆÂŤÂ“iÂ˜ĂŒ°ĂŠ UĂŠ"˜Â?ÞÊ`ÂˆĂ›iĂŠĂƒÂ…ÂœÂŤĂŠÂˆÂ˜ĂŠĂŒÂœĂœÂ˜ UĂŠ/Ă•Ă€Â˜ÂŽiĂžĂŠÂœÂŤiĂ€>ĂŒÂˆÂœÂ˜ĂŠĂŠĂŠĂŠĂŠĂŠĂŠĂŠĂŠĂŠĂŠĂŠĂŠĂŠĂŠĂŠ$125,000

ML#V4021517 “The Dock� in Sechelt Now $1,399,900 Main street, downtown location with excellent exposure in Sechelt. 2 level building with retail, store, offices and zoned for residential above. High traffic area with lots of parking. 10 tenancies in place, many long term and great cap rate. Call Terry for more info.

UĂŠAPPROXIMATELY 900 SQ FT

FOR SALE Powell River, BC Alpha Dive Shop

SUNSHINE COAST, BC

Performance Realty & Management

SORRY, YOUR AD IS MISSING...

terry@thebrackettgroup.com Remax Oceanview Realty SECHELT

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COMMERCIAL REAL ESTATE, FRANCHISES & BUSINESS OPPORTUNITIES IN WESTERN CANADA

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

Sunshine Coast Investment / Development and Estate Opportunities

PANORAMA DR.

BONAVISTA RD.

CLAYDON RD.

ISKA ROAD/HWY 101

GARDEN BAY RD.

vacant waterfront lot with foreshore lease; premium Pender Harbour location.

vacant waterfront lot, 1.58 acres, zoned R2, ultimate privacy in Halfmoon Bay.

44 acre South facing estate/ sub. $18,000/acre! Garden Bay views, excellent potential.

10 acre watefront, estate/easy sub., good rev. Pristine spot, 40 mins to ferry, Middlepoint

200 acres, 2500' lakefront, $16,500/acre!, 2 separate titles, developer alert!

$690,000

$793,000

$799,000

$1,900,000

$3,299,000

For more info:

Mike Carson

mike@sunshinecoastland.com

604-740-1841

Prudential Sussex Realty 5561 Wharf Rd. Sechelt

m[ij[hd_dl[ijeh$Yec d[mi$WhY^_l[i$h[fehji$kfZWj[i 9edjWYj ki \eh ceh[ _d\ehcWj_ed0 ,&*#,,/#.+&& eh WZl[hj_i[6m[ij[hd_dl[ijeh$Yec

A20 Vancouver Island

www.westerninvestor.com JULY 2011WESTERN INVESTOR

marketing your franchise?

CAP RATE PROPERTIE$ More Photos Online

12.26 Acre (City Water - 30 Ft Waterfront) $1.99M 253 Acres—(Near Sprout Lake) 6 Acres (Multifamily - Central Nanaimo)

JIM JOHNSON www.nanaimojim.com

$1.395M $2.7M

JAY DELESKIE www.oceansidejay.com

5 Acres (Multifamily/Res - Lake Cowichan) $398K

$2.7M

Mobile Home Park - (Clean) Mini Storage (10 Acres)

$3.75M

9 Acre Oceanfront Resort

$11.9 M

21 Unit Apartment Block

$2.7M

Call the

1-866-664-3444 10000 Sq Ft (DT Nanaimo Office Building) $1.09M Duplexes & 4-plex 20000 Sq Ft (DT Nanaimo Building)

$569K

2550 Sq Ft (Solid Brick - lots of parking)

$498K

F

SA OR

#17 - 4890 Rutherford Road Nanaimo, B.C.

LE F

SA OR

($339K to $530K)

Multiple High Traffic Mall Retail Businesses $59K - $330K

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

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DONE DEALS editorial feature will highlight deal flow in Western Canada. - ÜÊÌ iÊ >À iÌÊÜ >ÌÊ ÃÊ Û }Ê> `ÊÜ Ê ÃÊ Û }Ê Ì°Ê/ iÊ Ì ÞÊ Ài« ÀÌÊÜ Ê } } ÌÊ > ÀÊ­L>à V> ÞÊxä ÊõÕ>ÀiÊviiÌÊ ÀÊ ÀiÆÊ ÀÊ > `Ê `i> ÃÊ vÊfÓÊ Ê ÀÊ Ài®ÊV iÀV > ÊÀi> ÊiÃÌ>ÌiÊÌÀ> Ã>VÌ ÃÊÌ >ÌÊ >ÛiÊV Ãi`ÊÜ Ì ÊÌ iÊ >ÃÌÊÎä {xÊ`>ÞÃÊ Ê7iÃÌiÀ Ê > >`>°

Please send us the following information: UÊ 7 >ÌÊÜ>ÃÊà `Ê ÀÊ i>Ãi`¶Ê UÊ 7 ÊÜ>ÃÊÌ iÊÛi ` ÀÊ­ vÊ« Ãà L i®¶Ê UÊ 7 ÊÜ>ÃÊÌ iÊLÕÞiÀÉÌi > Ì¶Ê UÊ vÊÌ iÊ > iÊ vÊÌ iÊLÕÞiÀÊ ÃÊV wÊ`i Ì > ]Ê« i>ÃiÊÌi Ê Ü >ÌÊÌÞ«iÊ vÊLÕÞiÀÊ­ °i°]Ê, /]Ê ÃÌ ÌÕÌ > ]Ê V> Ê ÛiÃÌ À]Êv Ài } Ê ÛiÃÌ À]Ê Ü iÀÉLÕ `iÀ®Ê UÊ 7 ÊÜ>ÃÊÌ iÊ ÃÌ }Ê>}i ÌÉ>}i VÞ¶Ê UÊ 7 >ÌÊÜ>ÃÊÌ iÊÃi }Ê«À Vi¶

Please forward this information directly to

Frank O’Brien,

Western Investor Editor at

wieditor@biv.com.

FRANK O'BRIEN Editor

www.westerninvestor.com • 1-800-661-6988

*OWFTUJOH advertise@westerninvestor.com

604-669-8500 1-800-661-6988

Join thousands of real estate investors and professionals who read the Western Investor’s market overviews, news, and features to help them guide their investment dollars into profitable properties and businesses. Plus, you’ll find all kinds of opportunities for sale – all in one place – from across Western Canada. Pick up your copy at your local newsstand or subscribe and we’ll mail it right to your door. Check out our media kit on-line at westerninvestor.com for more information or call us at 604-669-8500. Advertising deadlines are mid-month for the next month’s issue.

A21

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

FEATURE Golf courses adjust to challenging times as fewer players, competition lead to discounted rates

WESTERN INVESTOR esidents of Prince George consider Pine Valley Golf Centre, a par-three course with a 2,446-yard fairway, a public amenity. Owned by the city since the 1960s but overseen by a private contractor, it doesn’t return much to municipal coffers. The driving range was sold for development in the late 1990s, delivering a significant hit to revenues, but the course continues to provide an in-town option for golfers. Its relatively flat fairway is especially attractive to senior players.

3

“We work closely with the contractor to keep the rates as low as possible,� Brad Beckett, manager, recreation and cultural services for Prince George, said. “It’s pretty close to breaking even.� The other major course in town is thePrince George Golf and Curling Club property, which will be sold under plans to relocate the course to a new site north of the Nechako River in Harper Valley. The club’s old course will be redeveloped, including a portion of the adjacent Pine Valley course. But the paths the two golf courses are taking highlight the challenges facing the overbuilt, tax-hit golf industry in B.C. While municipal courses offer a cheap alternative to clubs and private courses, market forces are requiring golf centres of all stripes to be business-savvy.

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The pressures facing course owners and operators are many, according to Kris Jonasson, executive director of the provincial sport association British Columbia Golf. “Owning a golf course is a very difficult business to make a profit in,� Jonasson said. Golf courses now have to charge HST on green fees, as well as food and beverage ser-

vices, neither of which bore the old provincial sales tax. Meanwhile, the number of golfers in the province has declined, boosting competition for market share. “The HST is just one part of a very complex puzzle,� Jonasson said. The proliferation of golf courses in the province and ensuing competition is the top reason he identifies for the challenges operators face. Wildstone Golf Course near Cranbrook opened June 1, the latest in a string of course that have opened across the province in recent year, most notably on Vancouver Island and in the Okanagan where golf-oriented real estate developments have fuelled course construction. The ambitious construction plans could be the biggest risk Jonasson sees to the industry. “The fact that we may be overbuilt now in terms of the number of golf courses that we have given the number of golfers probably has a bigger impact than the HST does,� he said. The one area of the province where competition is limited is the land-tight Lower Mainland. Here, private clubs grab the top end of the market, while municipal courses fill a similar niche to Pine Valley in Prince George. Yet the operating philosophy is significantly different in Metro Vancouver compared with Prince George. Rather than being satisfied to charge rates low enough to break even, courses run by Vancouver, North Vancouver and Burnaby have adopted an entrepreneurial approach to the business. Vancouver, for example, spent $10.5 million repositioning its courses; Burnaby also adjusted its management approach. This is sharp contrast to some Canadian cities, which are selling off their golf course, citing low income. A recent audit in Winnipeg, for example, found that its three city-owned courses are more than $8 million in debt and losing about $1 million per year. Winnipeg Mayor Sam Katz said the time

(TOP) The Gary Player-designed Wildstone Golf Course near Cranbrook opened June 1, the latest in a string of courses recently opened across B.C. (RIGHT) Furry Creek golf course has cut peak season rates from $109 to $99 per round, a trend seen at many top courses.

has come for the city to decide whether to sell the courses. “It is happening right across North America – there’s just more courses than are required,� the mayor said. According to the independent auditors who examined the finances of Winnipeg Golf Services, more than 70 U.S. municipalities and at least five in Canada were attempting to sell two short courses and two driving ranges. their golf courses in 2010. The culmination of a decade of planning, the clubhouse adheres to a strict business plan $JUZ PXOFE DPVSTFT that reflects the municipality’s commitment to David O’Connor, assistant director of golf operating the course – and its other properties operations for Burnaby, believes that municipal – as a business. courses can be profitable. Burnaby has realWhile the Riverway course typically sees ized it couldn’t be subsidizing its courses; they 55,000 to 60,000 rounds played a year, more would have to become user-pay and take an than 1.5 times the Canadian average of 35,000 entrepreneurial approach to their operations, rounds a year, O’Connor knows that the clubhe explained. house can’t depend on player traffic alone As O’Connor explained, “We’re competing – especially with the tax hit the HST has deliv against every other public golf course, and we ered golf courses. Rather, he’s counting on half have to be as good or better than our competi- the revenues coming from walk-in traffic maktion.� ing the clubhouse a destination in the evolving The city recently opened a $6 million club- Big Bend area. house at Riverway, one of two regulationRiverway also boasts a pro shop with 10 length courses Burnaby operates as well as Please see Resorts page A22 Photo: Owen Broad

PETER MITHAM

Photo: Wildstone Golf Course

*O UIF SPVHI

7BODPVWFS *TMBOE

VANCOUVER ISLAND COMMERCIAL www.nanaimoremaxcommercial.com

1-877-335-4380

Jay Cousins Realty

FOR SALE

Jay Cousins jay@jaycousins.com

UÊ ",/ Ê "Ê " , Ê 6 -/ /Ê *,"* ,/9Ê‡Ê Fully leased 1837 sqft commercial strata unit over 2 floors (935 sq. ft., and 902 sq. ft.). $410,000.00

FOR LEASE UĂŠĂŽ]{Ă‡ĂˆĂŠ-+ĂŠ /ĂŠ, -/ 1, /ĂŠ-* ĂŠ ",ĂŠ - ĂŠ ĂŠ / ĂŠ "7 ĂŠ6 9ʇÊClose to downtown Duncan. LEASE RATE IS $10.35 PER sqft (or $3,000 per month net additional rent estimated at $4.29 per sqft for year 2011 plus HST)

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Frank Johnson frank@remaxofnanaimo.com

INVESTMENT OPPORTUNITIES

INVESTMENT OPPORTUNITIES

UĂŠĂŠ FULLY RENOVATED & REDESIGNEDĂŠqĂŠĂ“]ĂŽnäĂŠ-¾°ĂŠ ĂŒ°ĂŠLĂ•ÂˆÂ?`ˆ˜}ĂŠÂœÂ˜ĂŠĂ“ĂŠÂ?iĂ›iÂ?ĂƒĂŠĂŒÂ…>ĂŒĂŠV>Â˜ĂŠ>VVœ““œ`>ĂŒiĂŠ>ĂŠĂŽxĂŠĂƒi>ĂŒĂŠĂ€iĂƒĂŒ>Ă•Ă€>Â˜ĂŒ°ĂŠÂş ĂƒĂŠ ĂƒÂťĂŠĂƒ>Â?iĂŠÂˆÂ˜VÂ?Ă•`ˆ˜}ĂŠ>Â?Â?ĂŠĂ€iĂƒĂŒ>Ă•Ă€>Â˜ĂŒĂŠiÂľĂ•ÂˆÂŤÂ“iÂ˜ĂŒ]ĂŠÂœĂ€ĂŠĂœÂˆÂ?Â?ĂŠÂœvviÀÊLĂ•ÂˆÂ?`ˆ˜}ĂŠ EĂŠ Â?>˜`ĂŠ ĂœÂˆĂŒÂ…ÂœĂ•ĂŒĂŠ iÂľĂ•ÂˆÂŤÂ“iÂ˜ĂŒ°ĂŠ "ÂŤÂŤÂœĂ€ĂŒĂ•Â˜ÂˆĂŒĂžĂŠ ĂŒÂœĂŠ Â?i>ĂƒiĂŠ >ĂŠ ÂŤÂœĂƒĂƒÂˆLˆÂ?ÂˆĂŒĂž ĂŠ $419,000

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of Nanaimo

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www.bcoceanfront.com

* i\Ê£ nää xÈÎ ÇÎÓÓÊUÊ i \ÊÓxä ÓnÇ ä䣣ÊUÊi` > ` >JLV Vi> vÀ Ì°V VANCOUVER ISLAND

COMMERCIAL RETAIL COMPLEX ‘56% Controlling Interest’ in a 2-storey 5440sqft strata title complex situated in the downtown core of Campbell River: an ideal retail and office building or Performance Arts facility with 2600sqft on the main level and 2840sqft on the 2nd level. Plumbed and wired with fibre-optics for 4 units, to accommodate various types and sizes of ventures! Commercial - 1 Zoning. $495,000

VANCOUVER ISLAND AIRPORT Ideal fl ight service & maintenance facility in Campbell River, with direct access to the airport taxi & runway! 1.12 level leasehold acres, 50x50’maintenance building with over-height ceilings, 40’ overhead door, 2000lb hoist & built in compressor, an attached 20x24’ shop & attached 20x50’ space incorporating a self-contained 2bedroom suite & an office & reception area. $250,000

PORT HARDY INDUSTRIAL RIVERFRONT Unique property & opportunity! 3.6 acres zoned light industrial, located on North Vancouver Island & only mins from the amenities of town. An attractive, easy access property with substantial highway frontage & a diversity of possible applications including storage facilities, offi ces, retail services, wholesalers, works yards or combined commercial & retail developments. $295,000

ORCA INN, ALERT BAY 2 titles, totaling half an acre, with unobstructed marine views & a 7300sqft building with owner’s suite, 5 hotel rooms & a 49-seat restaurant as well as a 35-seat pub & Beer & Wine Store. Assumable liquor licenses with qualification. Extensive upgrades include: new fire suppression system, 4 monitored security systems with cameras. Close to amenities & essential services. $450,000

3&40354 from A21 golf pros, rental cars and retail operations. The operations are kept in-house, allowing Burnaby – unlike smaller municipalities with just one course – to take advantage of economies of scale. One superintendent oversees turf at all courses, for example, and powerful software allows it to track maintenance and operations costs to keep expenses in line with budgets. The close tabs Burnaby keeps on course expenses supported the decision to install 120 kilometres of drainage pipes on its fairways. “We spent $800,000 or $900,000 per golf course, but we recover from heavy rains in two to three hours. We used to recover two to three weeks,” O’Connor said. “We’re the driest golf courses in the Lower Mainland.”

1SJDFT GBMMJOH

Still, declining demand means golf courses risk getting soaked by downward pressure on fees. Courses across the Lower Mainland have been dropping prices to attract players in the face of declining demand. While some peg the drop at as much as 25 per cent, others are more conservative. The picture is complex, a reflection of the variety of influences discouraging players from teeing off. Rita Rennie, corporate marketing manager for Golf BC, which operates courses across B.C. and in Hawaii, said the weather, exchange rates, passport requirements for U.S. travellers and other factors influencing the tourist trade

have all hit the game. Courses at resorts have been hit particularly hard. Golf BC’s courses in the Okanagan, including the Okanagan Golf Club and Gallagher’s Canyon properties in Kelowna, saw prices drop because more courses are competing for fewer tourist dollars. Meanwhile, its courses in Whistler have seen fees decline and adjustments to the value proposition players enjoy. While some courses in Whistler have seen green fees drop by as much as $50 a round , GolfBC’s Nicklaus North course dropped its rack rates from $175 to $149 – but the requirement to use a motorized golf cart was also removed. “There’s a lot more people wanting to walk,” Rennie said. Furry Creek, in contrast, saw peak-season rates cut from $109 to $99. The course is becoming established once again after taking a hit during construction of the Sea-to-Sky Highway, Rennie explained. Players realize they can get from downtown Vancouver to Furry Creek in about 25 minutes – faster than a drive to UBC after work. Courses that are offering lower fees are also responding to the market, introducing more rate options than in the past to be more competitive and responsive to player demand. “There’s definitely, for the value-conscious golfer, a lot of options at many of the courses,” Rennie said. “Some courses that in the past have not offered variable rates throughout the day or the season are maybe looking at that now.”◆

Each office is independently owned and operated.

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* * *** with Shannon Kewley 604-786-9389 REMAX CREST Mobile Home Park 50 pads incls 3 bedrm log home $1,488,000 Profitable Inn close to ocean $1,549,000 Commercial Building Good Investment $1,388,000 Townhouse N. Van 3 Bdrm $574K

Attention Agents: TO ADVERTISE

☞ HERE ☞

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

VANCOUVER ISLAND

VANCOUVER ISLAND Comox Valley

OPPORTUNITIES

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

Buy the Beach Commercial waterfront multiunit resort properties available. Excellent cash flow. Good holding Properties. Excellent for group purchase $1.2 million – $2.4 million

Development Opportunities Parksville / Qualicum Beach Two land assemblies available. 5 titles per grouping Individual title purchase available Strong Cash flow

UÊ £]ÓääÊ-+Ê /Ê£n¿Ê ÊÊ°°°°°°° $162,800 UÊ , / É" É /Ê 1-/, ÊÊ SPACES FOR LEASE fn°ääÊqÊ£{°ääÉõÊvÌ UÊ Ê+1 /9Ê-/, / Ê" ÊÊ Ê Ó]{ääÊõÊvÌÊ .....................................................$629,000 UÊ -/, / Ê" Ê ",Ê- Ê 2nd floor vacant 2,200 sq ft ... $249,900 3rd floor leased 2,200 sq ft ...... $254,900 UÊ Î]ÈääÊ-+Ê /Ê, / Ê 1 Ê On .28 ac, Comox ................... $925,000 UÊ ÇÊ1 /Ê */Ê " "8Ê Zoned for 14 Units ................... $850,000 UÊ Î]äääÊ-+Ê /Ê, / Ê 1 Ê On ½ ac, Courtenay ................. $925,000

Commercial Office Building $849,000

UÊ £]{ÈäÊ-+Ê /Ê, / Ê 1 Ê On .23 ac, Cumberland ........... $480,000 UÊ°Ç£Ê Ê "7Ê, - Ê */Ê- / Ê°°°°° $850,000

250 248.1071 1.888.243.1071 www.ianlindsay.ca #21-826 West Island, Parksville - at Wembley Mall Each office is independently owned and operated

Agents:

UÊ nnääÊ-+Ê /Ê, / É" Ê ............................................... $1,395,000

Coming Soon

First Realty

Attention

UÊÊÎÎääʳÊ-+Ê /Ê Ê "1,/ 9ÊÊÊ ÊRetail/Office/Warehouse (Strata)ÊfÎÓx]äää

Rob Samsom

AACI CCIM FRI PERSONAL REAL ESTATE CORPORATION

VANCOUVER ISLAND

1-888-829-7205

0!2+36),,% s 15!,)#5- "%!#( .!.//3% s "/73%2

RE/MAX Ocean Pacific Realty

www.robsamsom.ca

REACH QUALIFIED BUYERS FOR YOUR LISTINGS call Gary

Takahashi

toll-free: 1-800-661-6988 tel: (604)

669-8500 or fax: (604) 669-2154 gtakahashi@westerninvestor.com

Each office is independently owned and operated.

Vancouver Island A23

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

Business Is Better On Vancouver Island For Sale 31.83 Acre Industrial Land Parcel - North Cowichan

$3,500,000

TWO PRIME LOCATIONS FOR SALE WITH POTENTIAL FOR CAREHOME OR CONDO SITES

Heavy Industrial Zoning. Also available for lease.

2.05 Acre Prime Development Site - North Nanaimo

$2,900,000

On Old Island Highway adjacent to Long Lake.

2.98 Acre Re-Development Site - Central Nanaimo

$2,695,000

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

7.42 Acre Oceanfront Property - Port Renfrew

$2,500,000

Picturesque, untouched parcel at San Juan Point.

New Office and Commercial Building - Central Nanaimo

$1,359,000

NEW PRIME RETAIL SPACE FOR LEASE CENTRALLY LOCATED NEXT TO POPULAR RETAILERS SUCH CENTRALLY LOCATED NEXT AS SHOPPERS DRUG MART TO POPULAR RETAILERS SUCH AS

COMOX

SHOPPERS DRUG MART.

POTENTIAL CAREHOME OR CONDO SITE

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

Investment Property - Downtown Nanaimo Commercial Development Property - Nanaimo

$ 795,000

LANGFORD

$ 649,000

CONDO SITE APPROVED FOR UP TO 188 UNITS

$ 590,000

EXCELLENT LOCATION

1.2 acres with C-12 Zoning beside Nanaimo Parkway.

Residential Development Property - Nanaimo 4.88 acres near the Nanaimo Parkway.

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

Court Ordered Sale - Waterfront Restaurant, Land, Building

$ 499,000

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

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

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

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

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

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

www.randallnorth.ca

2.34 ACRES OF POTENTIAL

Please visit our website or call for more details.

monarkinvestments.ca Financing Available. Potential Trades.

Green Rock Industrial Park 9,688 to 71,849 sq ft $199,000 to $995,000

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

Seaview Centre - Parksville $110,000 to $325,000

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

Seniors Care Facility - Ladysmith 5 acres of oceanfront with plans in place for 24 additional units.

$ 1,700,000

Unique Commercial Offering - Downtown Nanaimo 5,500 sq ft warehouse/shop, 1,400 sq ft house and parking lot.

$ 1,375,000

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

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

PRIME OCEANFRONT PROPERTY A RARE DEVELOPMENT OPPORTUNITY

LOCATED NEXT TO COSTCO, A SHERATON HOTEL, HOME OUTFITTERS, AND MANY OTHER RETAIL STORES

604-592-7250

Featured Listings

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

John Russell: 250-634-2695 Email: sunnyoceanfront@uniserve.com

BUSINESS OPPORTUNITY IN THE

Southern Gulf Islands!

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

CAROL BUDNYK, REALTOR® Direct: 250 588-3378

Offered for sale at $2,395,000

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

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

Business Opportunities UPHOLSTERY & FURNITURE REFURBISHING—Nanaimo FAMILY ADVENTURE CENTRE—Nanaimo SEWING MACHINE & FABRIC RETAILER—Nanaimo FRANCHISED FAMILY RESTAURANT—Ladysmith ESTABLISHED PLUMBING & HEATING BUSINESS—Nanaimo ESTABLISHED RESTAURANT—Tofino ENGINE MACHINING & PARTS BUSINESS—Nanaimo JUMPING JIMINY’S PLAYLAND & CAFÉ—Nanaimo Well known children’s entertainment business

$ $ $ $ $ $ $ $

RESTAURANT ON ISLAND HIGHWAY—Parksville ESTABLISHED PLUMBING & HEATING BUSINESS—Nanaimo On 7,560 sq ft lot with 1,300 sq ft building A&W RESTAURANT & FAMILY ADVENTURE CENTRE Franchise restaurant in Central Nanaimo as a package with a well known family entertainment destination RETAIL BUSINESS & DEMOLITION CONTRACTOR —Central Vancouver Island New and used building materials SPECIALTY MACHINE SHOP—Central Vancouver Island ENGINE MACHINING & PARTS BUSINESS—Nanaimo With Strata Titled land and building

$ 425,000 $ 550,000

119,000 149,000 180,000 219,000 225,000 249,000 395,000 419,900

$ 595,000

$ 775,000 $ 900,000 $ 950,000

SHEET METAL FABRICATION BUSINESS—Nanaimo Land, Buildings and up to $75,000 in inventory

$1,095,000

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

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

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

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

Gerry Van Vaals Personal Real Estate Corporation

Tel: 1 800 769 5757

Contact Dale Schuss

$ 799,000

7,977 sq ft building on Wallace Street.

DTZ Barnicke Nanaimo Ltd.

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

gerry.vanvaals@dtzbarnicke.com

www.dtznanaimo.com

JUDY GRAY, CCIM

COMOX VALLEY,

1.800.600.1718

VANCOUVER ISLAND ICI:

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

FULLY OUTFITTED SPA FOR SALE OR LEASE ..................$1,500/month or $329,000 CONFERENCE/MEETING ROOM w/kitchen 1684 sq. ft. waterfront MLS 278991 .......................... $249,000 PACIFIC COAST COTTAGES 3 rental cottages & main house. Well established/repeat clients. MLS 301040 .......................... $750,000 PIONEER BOAT WORKS Commercial & sport fishing gear. Waterfront living quarters above. MLS 257048 .......................... $990,000 EBB TIDE WATERFRONT B & B Spring Cove 3 rooms, private entr. Separate owners suite. MLS 300700 ...................... $1,339,000 A SNUG HARBOUR INN Oceanfront 6 room Guest House Separate owners suite. MLS 315084 ...................... $2,995,000 COMMERCIAL/RESIDENTIAL MIX 3 properties mixed zoning, treed. Well located, well priced as pkg MLS 318463 ............................ $695,000

LEASE SPACE INDUSTRIAL -1680 s.f. $11/s.f. base, + $2.77NNN (est) -industrial zoned…includes free 600s.f. mezz -lockable compound out back, 14’ loading door LEASE SPACE RETAIL/COMMERCIAL -former Subway space: high traffic -downtown Comox in main business section -1119 s.f. $22/s.f. base + $12 NNN (est) SIGN BUSINESS -established 17 years in the same location -client list included -includes inventory (est: $2500) Asking $39,900 GROCERY STORE/BAKERY WITH RESIDENCE -desirable Bates Beach area -nearest competition 3.5 km -separate bakery & store businesses down -3 bdr residence up -includes ½ acre, 3100 s.f. bldg, garage, sheds Asking $399,000 COMMERCIAL STRATA DOWNTOWN COMOX -hi pedestrian/car traffic location with huge street frontage -840 s.f. in prestigious Comox Quay Asking $319,000 COMMERCIAL STRATA UNIT -1170 s.f. unit with 3 phase power -retail entry, workshop rear with 12’ door -mezzanine which can be conv. to residential Asking $215,000

ROB PHILLIPS R. MIKE MULLIN, CGA TF: 1-800-715-3999 TF: 1-855-650-6560 Email: mullin@telus.net Cell: 250-897-8508 rob@robphillips.ca www.robphillips.ca

www.judygray.com

Comox Valley www.coastrealty.com

A24 Vancouver Island/Business Opportunities

0XO :PVS 'VUVSF

NANAIMO | VANCOUVER ISLAND

Sword PaciďŹ c Partners Inc. currently owns and operates the Sears Dealer Store in Duncan, B.C.

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

Call DARWIN

If you are approved as the new owners by Sears; you will offer Customers the most popular brands of Major Appliances, Home Electronics, Floor Care & Sewing Products, Air & Water Treatment Products and Lawn & Garden Equipment, plus full Sears Catalogue Services.

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

This unique opportunity will allow you to combine your entrepreneurial skills with the many strengths of Sears including:

Call ROB

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

OUTRIGHT PURCHASE OR POSSIBLE JV FOR A UNIQUE AQUACULTURE SEA FARM

to be given after conďŹ rmation of the original Development, together with any changes he new Purchaser may want to make. With all services and approvals tentatively ready, construction can start this year.

A turnkey facility waiting to be restarted into production. Excellent location in Barkley Sound, the PaciďŹ c Rim of the West Coast of Vancouver Island. This speciďŹ c sea farm is noted as having one of the best locations for sea farming activity and has the potential of expanding within its existing license. Consulting can be arranged for new owners and staff to be trained over a 2 year period. All permits and licenses are in order. Watch for the increasing growth now starting to happen in the Aquaculture business on the BC Coast. WELL PRICED @ $850,000

Call DARWIN

Call ROB

MULTI USE DEVELOPMENT SITE

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

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

ately off Hwy 19A. This rapidly developing area is home to the largest remaining residential development lands within the City’s Urban Containment Boundaries. Asking $2.8M Call DARWIN

250.760.1066

s %XTENSIVE ADVERTISING AND MARKETING SUPPORT s #OMPLETE INVENTORY AT NO COST TO YOU s 0ROFESSIONAL EXTERIOR AND INTERIOR SIGNING PACKAGES s /N LINE POINT OF SALE RESERVATION SYSTEMS s $ESIRABLE #USTOMER PAYMENT OPTIONS s 0ROFESSIONAL TRAINING AND ON GOING SUPPORT

7E RE LOOKING FOR AN ENTREPRENEUR WITH SALES EXPERIENCE AND EXCEPTIONAL CUSTOMER service skills whose commitment, hard work and winning spirit combined with Sears’ strengths will provide the framework for success in this community. Earn variable commission plus additional income opportunities. No fees or royalties. List price: $276,800

s .OTE 3EARS HAS lNAL APPROVAL OF SELECTED CANDIDATES Sears Canada Inc. www.sears.ca

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

$42 could make you millions! Western Investor readers tell us: "I am looking for a business and I read it cover to cover. It keeps me up to date on what's for sale and I also pick up some tips in every issue. Keep up the good work."

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Darwin Mahlum Robert Borden

To request further information on this business opportunity, please contact: 0ETER 3TERCZYK AT OR EMAIL PETERSTERCZYK REMAX NET

INDUSTRIAL BUILDING IN VANCOUVER, B.C. Excellent development potential of 8.91 acres, 4.3 acres usable, for one of the remaining Commercial (with residential component) within the main service corridor of the Chase River (South Nanaimo) neighbourhood. Excellent access is available from existing trafďŹ c light immedi-

JULY 2011 WESTERN INVESTOR

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604-669-8500 1-800-661-6988

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

Vancouver Island A25

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

SkyTrain station. PCI executives envision building two towers (one 24 storeys and one 33 storeys for a combined total of 825,000 square feet) near the Marine Drive SkyTrain station in south Vancouver. The project, which would create an estimated 2,000 jobs, overshadows other ambitious proposed developments along the decad e-old Millennium Line, including: sWesgroup building up to 750 homes while he proposed Site C dam in northeast providing office space and a 30,000-squareB.C. has moved to the first stage of an environmental review, and the price tag has foot Thrifty Foods grocery store on a nine-acre “Brewery Districtâ€? site near New ballooned to almost $8 billion. Westminster’s Sapperton station; BC Hydro says an updated design for the sBentall Kennedy LP planning to develop dam shows the project would cost $7.9 billion for labour, equipment and materials, up from two 200,000-square-foot office buildings on part of its 38-acre site surrounding the Braid an estimated $6.6 billion cost in 2010. Much station in New Westminster; and of the increase is due to an upgrade to the s"ENTALL +ENNEDY PLANNING TO BUILD FIVE old design, according to BC Hydro spokesman towers with 900,000 square feet of space Dave Conway. east of Broadway Tech Centre by Vancouver’s “We’ve upgraded to meet current seismic Renfrew station. The technology complex safety and environmental guidelines,â€? said HAS SEVEN BUILDINGS THAT "ENTALL +ENNEDY HAS Conway. already completed. Despite the higher cost, the price of elec“We’re the most prolific office developer tricity the dam would produce would make Site C among the most cost-effective options in Vancouver and the most prolific developer along the SkyTrain line,â€? said Tony Astles, available to meet B.C.’s future electricity "ENTALL +ENNEDY EXECUTIVE VICE PRESIDENT needs, and it could operate for 100 years, according to a BC Hydro statement. The dam would flood hundreds of hectares of land and is opposed by several First Nations and other residents in the Peace River region, however. Proponents say the dam would generate thousands of construction jobs in a region still suffering from the recession. anada Safeway has called for bids from Hydro has submitted a project description 50 developers, mostly in B.C., to purreport to federal and provincial environmental chase a 43-acre parcel of land it has for sale assessment agencies, and once the report is in Burnaby. accepted the formal assessment of the giant The property runs along 11th Avenue and project will begin. 18th Street and is designated multi-family residential in the City of Burnaby’s official community plan. The parcel is near the Edmonds SkyTrain station, surrounded by six major bus routes, adjacent to main roadways INCLUDING +INGSWAY TH 3TREET AND -ARINE Drive and in close proximity to five schools construction boom is being seen around and a variety of other amenities, making it a prime location for residential construction. SkyTrain stations in Metro Vancouver. The bids were being considered as of June Because it would be Vancouver’s tallest tower outside the downtown core,PCI Group’s 1, according to Trevor Lee, senior real estate Marine Landing project is the highest-profile manager for Canada Safeway. Lee said Canada Safeway is not interested in a joint developdevelopment that has been proposed near a 8)"5¤4 )"11&/*/( */

Site C moves to next stage

T

Safeway selling 43 prime acres

C

Developers link to SkyTrain stations

A

Vancouver Island & Gulf Islands Canoe Bay: South exposure .50 acre lot with Thetis I: Secluded park-like waterfront 10 ac estate substantial dock. Build your home & keep your boat w/2900 sq’ residence plus guest cottage & 4 @ your front door. ...............................$1,750,000 ancillary buildings. This desirable property is mostly lvl Henderson Pt: Secluded natural state .85 ac. w/gentle slope lo bank frontage of 800’ +/- w/dock. oceanfront w/south exposure. Tastefully decorated ............................................................ $1,390,000 1724 sq’ home w/large deck area @ waters edge. ... ................................................. $1,550,000 SOLD Galiano I: Secluded 11.5 ac oceanfront w/excellent beach. West Coast home requiring attention, ............ Galiano I: West coast home sited close to water w/ ............................................................ $1,390,000 west exposure. Comfortable 1700 sq’ home set in secluded point of land - .83 ac w/ocean on 3 sides + 10 Mile Pt: Modern oceanfront Mediterranean style dock in peaceful cove. .........................$1,100,000 3 lvl family home w/expansive marine views. A lovely Tsehum Hbr: Attractive West Coast home sited @ property w/gentle slope to ocean & situated quiet waters edge w/lo bank. Situated on quiet cul-de-sac. no-through rd. ....................................$4,850,000 Built w/attention to quality & detail-as new! Close: Ardmore: Oceanfront home set in .67 ac w/excellent marina’s, Sidney, airport, ferries. ..........$1,699,000 beach. Well maintained w/upgrades. Expansive west Victoria: Penthouse w/SW marine views! Impressive views & beautiful sunsets. ...................$1,379,000 2 lvl (designed for elevator) 3706 sq’ suite. Concierge, 24 hr security, swimming pool, fitness center, Thetis I: Secluded 2.16 acs w/300’ lo bank frontage. workshop, putting green. Close to all amenities. ....... Older home sited close to water w/west exposure. .... ............................................................ $1,850,000 ............................................................... $899,750

Peter Nash | 250.384.0566 direct 877.388.5882 realestate@peternash.com www.peternash.com

Victoria

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uyers lined up for three days in Richmond last month for a chance to purchase a new condominium, while, a week earlier, more than 400 buyers crowded into a New Westminster preconstruction sales office and snapped up $50 million worth of new apartments in less than two hours. “We haven’t seen local buyers Buyers bought $50 million in condos in less lineup for new condo developthan two hours at the Eight West project in New ments like this in the last three Westminster. years,� said Pilothouse Real Estate Marketing president Bill Morrison, who led the marketing of the Eight West project in New Westminster. Morrison said buyers snatched up the 79 suites in phase 1 in 45 minutes while the second phase of 70 condos sold in 60 minutes. Eight West made headlines in May when itsdeveloper, Wanson Development, announced it wasn’t charging the controversial harmonized sales tax (HST) on its condos, which started at $168,000. In Richmond, marketing agents rushed to bring blankets, tents and Wi-Fi connections to the sales site of the Quintet project where buyers began lining up three days in advance of the sales office opening. The Wi-Fi service allowed potential buyers to watch the first game of the Stanley Cup playoffs. “Phase one of the development involving the first two of five towers sold out as soon as it was put on the market last fall,� said Quintet sales director Barrett Sprowson. “We were anticipating a lot of buyer interest, but the lineups well ahead of the sale have completely taken us by surprise.� Quintet Richmond, a seven-acre development in downtown Richmond, will feature aTrinity Western University campus, a community centre, a 75-foot indoor lap pool, private dining areas and a two-acre rooftop garden. The first 100 of 300 suites in phase two of the development had prices starting at $249,900 for one-bedroom suites. Two-bedroom suites start at $359,900. Quintet, by Canada Sunrise Development Corp., is scheduled for completion in 2015, with phase 1 scheduled to open in 2013. Meanwhile, resales of condominium apartments across Greater Vancouver trackedlower in May, according to the Real Estate Board of Greater Vancouver. Sales, at 1,228 units, were down 9.3 per cent from May of 2010. The typical price for a resale condo apartment in Greater Vancouver was $407,400 in May, up 2.2 per cent from the same month a year earlier. Photo: Pilothouse Real Estate Marketing

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ment for the land. “We want to sell it outright,� he said, noting it is the largest such land sale by the company in B.C. What is the land worth? Few would venture a guess without knowing the final density allowed, but smaller multi-family sites in

Burnaby and Coquitlam are selling for $7 million to $8 million an acre. ! ACRE SITE NEXT TO THE +ING 'EORGE SkyTrain station in Surrey, zoned for highdensity housing, has been tied up at a price rumoured to be close to $45 million.â—†

MagniďŹ cent Vancouver Island Oceanfront Estate

villamadrona.ca

A

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

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

Victoria

A26 Vancouver Island

www.westerninvestor.com JULY 2011 WESTERN INVESTOR

MAKE MORE DEALS Market your listings in the Western Investor. Thousands of private investors and real estate professionals use the Western Investor to help guide their investment dollars into profitable businesses.

Report: Prairie Horizons Feature: LEED and Green Finance: take out and construction loans The new MLS system Franchise News Recreational Properties Regional Roundups: BC: Cowichan Valley AB: Spruce Grove SK: Swift Current Spotlight: Steinbach, MB

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AUGUST AD DEADLINE JULY 11TH

SEPTEMBER AD DEADLINE AUGUST 15TH Report: Residential investing Financing: apartment blocks Bulk condo buying REITS in residential Condo hotels Franchise News Recreational Properties Regional Roundups: BC: Victoria SK: Prince Albert MB: Thompson Spotlight: Canmore, AB

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A27

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

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From: Mayfair Commercial, Richmond. Mayfair president Lawrence Lim reports the following sale: Deal: 129-room Comfort Inn, Richmond, sold to an investment group, Westin Coast Investments Ltd. Price: $12 million.

Photo: Mayfair Commercial

From: Frontline Real Estate Services , Surrey. Frontline agents Justin Mitchell and Josh Turner report the following multi-lot sale: Deal: Four commercial lots comprising 19.27 Four-building, 4.4-acre industrial property 129-room Comfort Inn, Richmond, sold for $12 million. acres, 32 Avenue, Surrey. Sold at prices rang- in Langley sold for $19.3 million. ing from $2.25 million to $3.4 million. Total price: $11.34 million. From: Avison Young, Vancouver. Avison Young agent Bal Atwal reports the following sale: Deal: 13,728-square-foot commercial site on No. 3 Road, Richmond, currently a restaurant, sold to a local private investor. Price: $2.4 million.

From: Re/Max Vancouver Island Commercial, Nanaimo. Re/Max agent Jay Cousins sold the following: Deal: Fully leased, 5,000-square-foot office building on 1.73 acres with one acre of vacant Recently completed a major commercial land, Parksville. Sold below assessed value. real estate deal? Send details for a free report here to: wieditor@biv.com. Price: $735,000.

Photo: Frontline Real Estate Service Ltd.

From: Cushman & Wakefield, Vancouver. Cushman &Wakefield agent Mike Hardy reports the following sale: Deal: 4.4-acre industrial site with four twostorey buildings in Willow Business Park, Langley. Sold to Concert Properties. Price: $19.3 million.

Photo: Cushman & Wakefield

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From: HQ Real Estate Services, Vancouver. HQ principals Mark and David Goodman report the following sale: Deal: Four-storey, 42-suite apartment/townhouse rental complex, Triumph Street, East Vancouver. Originally a strata complex. Price: $6.2 million.

Photo: HQ Real Estate Services

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

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

42-unit East Vancouver apartment rental building sold for $6.2 million.

Four parcels of Surrey land, 19.2 acres in total, sold for $11.34 million.

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Trina Koprich McCord Business Brokers, Ltd

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NANAIMO & VANCOUVER ISLAND PROPERTIES

Ê Ê- ",// Ê / Ê, É 8Ê" * " FORECLOSURE COURT ORDERED SALES 3 ACRE TOWNHOME DEV SITE Stunning ocean view up to 30 units. $995,000 26 UNIT CONDO DEVELOPMENT SITE Fabulous ocean views. 1 acre. Financing available. Approved plan with city. $729,800 FORECLOSURE OCEAN VIEW DEVELOPMENT 9 Acre, 28 lot subdivision in Chase River Quiet neighbourgood property is beautifully treed And would accommodate 28 single family homes or small lots. Mortgager may finance. Trades welcome. Foreclosure Price: $828,800

DEVELOPMENT SITES JUST LISTED; FANTASTIC OCEAN VIEW RM-5 Dev site, unrestricted views, overlooks cruise ship pier. Approved for 34 condos, No DCC’s. $729,000 PANORAMIC OCEAN VIEW DEV. SITE 24 Lots approved residential subdivision property Cost estimates available. Asking $1,475,000 142 ACRE DEV. SITE Nanaimo $5.8 M 6 ACRE PRIME DEV. SITE in central Nanaimo. Approved plan for 131 units. Seller will finance. 4 phases $2,390,000 DUPLEX LOT $129,000 4 PLEX LOT $199,000 COUNTRY ESTATES DEVELOPMENT SITE 23 ACRES $459,000 50 ACRES, $995,000 43 ACRES $859,000 Adjoining properties, 1 mile from city limits, Zoned for 5 acre lots

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

INCOME PRODUCING + REVENUE PROPERTIES SECURE INVESTMENT 6 brand new homes, all with legal suites, 2 meters each, 10 yr warranties, separate titles, 5 1/2% CAP, or hold & sell. $2,550,000

NORTH ISLAND HOTEL & PUB, WINE & BEER STORE 50 Rooms and restaurants. 2 lots. Over 4 Million annual sales. $3,100,000

NANAIMO DUPLEX 3 bedrooms per side, 2 separate titles. Excellent income. $424,900

6 ACRE DEVELOPMENT SITE Zoned RM5, 4 Phases approved for townhome & condos. Central Nanaimo. Asking $2,395,000 FINANCING AVAILABLE

5 RENTAL HOMES – All together 5 sep. adj. lots. Starting at $234,900 or all for $1,150,000. Seller will finance.

FULL FACILITY SUPER 8 MOTEL Central/southern Vancouver Island. High profile Location. 36 rooms, with franchised restaurant plus 125 seat pub 1.5 acre property. $3,950,000

CONDOS & HOMES

71 UNIT APARTMENT BLOCK 4 separate buildings. New Renos. Over $500,000 spent. North Island location. Over $27,000 monthly income. Management in Place. $2,890,000

NEW EXCECUTIVE CONDO ON THE WATER with swimming pool & boat deck. Boat moorage included. Seller will finance with 10% down & look at trades $425,000

HERITAGE APARTMENT BLOCK 13 self contained units. 1 commercial space plus lease pub & license. Gross revenue $10,000/month. $925,000

PACIFICA OCEAN FRONT CONDOS 38 Front Street Units for sale. Walk-on waterfront townhome $509,000 no HST. Call Dale for other available units.

5 PLEX NANAIMO 5 meters, over $4,500 monthly revenue. Covered parking. Storage lockers. Separate meters. Asking $749,500

WATERFRONT TOWNHOME 1740 SF 2 bedrooms, hardwood floors, granite counter tops, roof top patio. $599,000 1 BEDROOM PLUS DEN $239,900

DALE SHORTT Bus: (250) 758-3700 U

OCEANVIEW 3-PLEX South Vancouver Island. Excellent Income. 3 separate titles. $369,000

TOLL FREE 1-800-665-8313

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Ocean Pointe

A28

www.westerninvestor.com JULY 2011WESTERN INVESTOR

COMMERCIAL

RE/MAX TREELAND REALTY

RE/MAX LITTLE OAK REALTY

RE/MAX BOB PLOWRIGHT REALTY

#101 6337 - 198 Street, Langley, B.C. V2Y 2E3 Tel: (604) 533-3491 Fax: (604) 533-0202 Toll Free at 1-888-707-3577

2630 Bourquin Crescent West, Suite 9, Abbotsford, B.C. V2S 5N7 Tel: (604) 859-2341 Fax: (604) 850-2325 Toll Free at 1-800-668-8661

7300 Vedder Road, Suite 1, Chilliwack, B.C. V2R 4G6 Tel: (604) 858-7179 Fax: (604) 858-7197 Toll Free at 1-800-830-7175

REAL ESTATE BUYER/TENANT REPRESENTATION

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

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

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

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

INDUSTRIAL WAREHOUSES/ OFFICES

FOR SALE OR LEASE IN CHILLIWACK

An example of this is, defer taxes annually into commercial property and let it grow tax free! YOU CAN LAUGH AT MONEY WORRIES – IF YOU FOLLOW THIS SIMPLE PLAN

PROGRESS WAY INDUSTRIAL PARK BUY OR LEASE

Fort St John, Investment opportunity. Well kept up light Industrial building in Prospect Park close to Highway. Four years left on 5 year lease. Phase 1 and 2 available. 5 bays, offices on main and above with lunch room. Fenced yard with storage sheds. $1.1 Million (8.4% cap)

PORT COQUITLAM Rarely available – M-1

UÊ{äääÊõÊvÌÊ } ÌÊ `ÕÃÌÀ > Ê iÜiÀÊ­ÓääÇ®Ê building in Dawson Creek, BC.

Industrial unit 1944 sq. ft. 1044 sq. ft. footprint, 3 legally finished offices above. $229,000 CLS#4026408 Call or email David.

UÊ Ìi Ê ÛiÃÌ i ÌÊ «« ÀÌÕ ÌÞÊ Ê ÀÌ Ê East BC

www.davidkearney.com dkearney@remax.net

RE/MAX S ABRE REALTY

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

xGreat opportunity for business

owners and investors xGet in at ground floor and pick your

spot today

SALE FROM: $183,000 OR LEASE FROM: $8/S. F. TN

SIMILAR

BU TO ILD SU IT

1 to 20 Acre Development Lots

xArchitecturally Controlled xFully Serviced Lots xWill Build to Suit xIndependent or Strata Warehouse for sale or Lease from 2,000 to 500,000 sq. ft. x20 Minutes to US Sumas Border

xLocation: Lickman Rd. Interchange and Hwy 1 Chilliwack Usage: Warehousing, food processing, manufacturing, general commercial and light & heavy industrial uses. Outside storage

FOR SALE IN CHILLIWACK FORMER DAIRY OPERATION

INVESTMENT PROPERTY

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

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

SALE $1,400,000

SALE $598,800

COMMERCIAL DEVELOPMENT SITE xHigh profile location xEasy access & great exposure xOver 125’ of Frontage xLand size 48,326 sq. ft.

xSite profile available xFully Leased - current

income $4500/month gross xBuy & develop for future profit

SALE $1,244,000

FORECLOSURE PROPERTY xGood street exposure xPlenty of City Parking xRenovated in 2007 x8,563 sq. ft. building

x11,293

sq. ft. lot and office space xLocated Downtown Chilliwack xRetail

SALE $925,000

DAVID KEARNEYCCIM Toll Free: 1-888-942-0606

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

YOU GET WEALTHY BY STRATEGY

UÊ->ÞÊ} `LÞiÊÌ ÊÞ ÕÀÊL ÃÃ]Ê> `ÊV iÊ own this turnkey biz in Abbotsford. Sales of books and teacher supplies. Easy biz to learn and owner will train.

604-942-0606

RE/MAX SABRE REALTY GROUP

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

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

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

JUST REDUCED TO $1,850,000

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

For more information contact

SPECTACULAR VIEW 36.4 ACRE PROPERTY – ABBOTSFORD One of a kind awesome view, overlooking Fraser river & Valley farms. Ideal building site for the exclusive country estate. Fully useable farmland for berries or livestock. First time offered at $2,198,000

CALL ROY MUFFORD

604-533-3491

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

$1,600,000 KEITH SETTER

604-533-3491

INVESTMENT PROPERTY

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

xCompletely Renovated xIn Harrison Hot Springs x1,057 sf strata property xFully Leased—7% CAP

SALE $177,900

SALE $339,900

LIVE/WORK PROPERTY

LIVE/WORK OPPORTUNITY

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

xMixed use 3,250 sq. ft. building x4 Bays with in floor radiant and

separate gas and electric meters

Storage

xSeparate 3 bdrm, 2 bath home

SALE $689,900

SALE $649,900

INDUSTRIAL LAND 2 LOTS - 1/2 ACRE EACH Zoned M-2 $339,000 EACH 1 LOT - 10.6 ACRES Dual Zoning M-3 & M-4 $4,850,000

Lots are level with compacted gravel base x Offering dual road frontage xManufacturing, distribution, outside storage, warehousing, food processing, etc. x

FOR LEASE IN CHILLIWACK Lease from $12$13/sq ft.

Lease $9/sq ft.

xWell Located next to new Safeway xOffice and/or retail space xSpace available 850 to 7,000 sq ft x4,450 sq. ft. air conditioned xOn site parking and good access x9 private offices, reception etc.

Lease from $6.50$12/sq ft. xOn high traffic corner x806 to 1,900 sq. ft. xWell maintained building

Bob Plowright RE/MAX Bob Plowright Realty CHILLIWACK, BC 1-800-830-7175 - 604-858-7179 bob@bobplowright.com www.bobplowright.com

OFFICE FOR SALE

Langley, BC #104-6351 197th Street. A rare opportunity to own a 1446 sq.ft. office in a Prime Langley location, the ‘Willowbrook Professional Centerî. The office has two entrances and parking at both front and rear of building. Office should lease out between $17-$20 / sq ft. Immediate Possession.

RE/MAX TREELAND

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