Western Investor July 2011 Section B

Page 1

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

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

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

BUSINESSES FOR SALE FLOOR COVERINGS - CALGARY AREA Established more than 20+ years. Stable staff, long term customers. 2010 Revenue over $5M. EBITDA $460K (2010). $1,375,000 with normalized working cap. HVAC MANUFACTURER - ALBERTA 2011 revenue est. $4.2M and profitable. Custom air handling manufacturer. In business over 20 years. Direct and indirect fired air. $2.4M Vendor loan considered. PAVING BUSINESS - PRINCE GEORGE 2010 revenue $1.1M (up 20%). 2011 busier. 2010 EBITDA $236K after owner wage. Batch Plant and 2 gravel pits - lots of equipment. $829,000 plus working capital. For a List of All Businesses Call: Craig Tennock Tel: 1-877-880-7290 craig@naicommercial.ca GRANITE & CABINET BUSINESS • Turn Key Operation • Showrooms, Office and Shop • Fixtures & Equipment • Located in major city in western Canada • Land and Building may be available Jim Courtney Tel: (403) 291-8873 jcourtney@naicalgary.com FOR SALE - LAND & BUILDING 3405 - 32nd Avenue NE, Calgary, AB • Site: 1.21 +/- acres • Building: 14,900 +/- sq. ft. Offers Showroom, Offices, Shop and Warehouse, Large Fenced Paved Yard - $2,800,000 Jim Courtney Tel: (403) 291-8873 jcourtney@naicalgary.com

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

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

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

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

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

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

OWN YOUR OWN MOTEL Excellent Opportunity to Manage your way to Ownership. This is a serious opportunity located in the Kootenays, BC. Newer motel of 48 rooms with potential for expansion. Popular brand (flag), Pool and pool amenities. **Price is under $5 million and... **OWNER WILL FINANCE** LIVE AND WORK IN YOUR OWN BUSINESS FOR THE PRICE OF A DECENT CALGARY HOUSE! $550,000 - $750,000 can get you into the motel business. Small Town Southern Alberta. Live and work on premises with a great income. These are very nice properties! Contact: Jim Balfour Tel: (403) 291-8860 jbalfour@naicalgary.com

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

Buyers return as prices drop and economy firms

▲

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

FOR SALE/LEASE• 1499 - 17 Avenue SW Calgary Size - 2,444 sq. ft. Asking Price - $1,000,000. Lease Rate - $26.00 p.s.f.

7 KELOWNA’S CALM RECOVERY

Patricia Cecconi, marketing director of La Casa Resort: best value on lakeview homes in years

26 CHURCHILL FEARS FREEZE

Ottawa’s move on grain monopoly could stifle northern port exports 27 WEST LIGHTS TARGET’S RADAR

Photo: Judy Gray

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

$4.29 JULY 2011 Vol. 26/Issue 7

Giant U.S. retailer plans 34 new stores from the West Coast to Manitoba SPECIAL SECTION • B11

HOT PROPERTIES

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

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

Calgary Office

m[ij[hd_dl[ijeh$Yec

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

d[mi WhY^_l[i h[fehji kfZWj[i

TV

D T C

JS CF

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

www.westerninvestor.com JULY 2011WESTERN INVESTOR

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

www.colliers.com/kelowna

INCOME PRODUCING

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

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

MERRITT – RETAIL CENTRE

PRINCETON INDUSTRIAL ESTATES

131 ELLIS STREET, PENTICTON

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

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

s SQUARE FOOT h3ANTA &Ev STYLE BUILD ING ON A PRIME CORNER LOCATION IN DOWN TOWN 0ENTICTON 0OTENTIAL TO PURCHASE EXISTING AUTO BUSINESS List Price: $769,000 MEGHAN O’MARA, DipIT of Real Estate

996 LAVAL CRESCENT, KAMLOOPS

INDUSTRIAL STRATA - KELOWNA

1370 LAWRENCE AVE, KELOWNA

ORCHARD MOBILE HOME PARK

s /VER SQ FT OF REFRIGERATED WAREHOUSE LONG TERM TENANTS List Price: $1,895,000 LARRY GOOD ( Kamloops) s &ORMER "UDDHIST 4EMPLE SITUATED ON ACRE s SQ FT BUILDING ON TWO LEVELS s &OOTPRINT IS SQ FT s 4HE #ITY OF +ELOWNA WOULD LOOK AT REZONING TO LOW DENSITY HOUSING List Price: $1,100,000 CHAD BIAFORE / JACK SHABBITS

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

COMMERCIAL LOTS - MERRITT s ACRES ACRE :ONED #

LARRY GOOD ( Kamloops)

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

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

UĂŠ

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

Syd Berisoff Agent/Broker

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

O f fice: Fax:

250-862-8100 250-984-0803

AssociateĂŠBroker

Larry Berisoff SalesĂŠAssociate

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

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

EAST KOOTENAY AREA s 5NITS AND A "EDROOM ,IVING !REA s 26 3ITES (OT 4UB s %XCELLENT #ONDITION AND ,OCATION s 4WO (IGH 3EASONS /NLY (OURS FROM #ALGARY s $1,200,000

NORTH OKANAGAN MHP s -OBILE (OMES n OWNED s n 0LEX #ABINS 0ERMANENT 26 0ADS s -OST 5NITS ARE ON .EW 3EPTIC 3YSTEM s 0LUS !CRES 3TABLE #ASH &LOW s $999,000

syd@syberrealty.com

COLUMBIA VALLEY s 'REAT "USINESS WITH -ANY 2EVENUE 3TREAMS s 'AS # 3TORE )CE #REAM "OWLING ,OUNGE s (IGHWAY ,OCATION 'REAT #ONDITION s !CRES s 4HIS "USINESS HAS A 'REAT "OTTOM ,INE s $1,690,000

KELOWNA PUB s %XCELLENT ,OCATION NEAR ,ARGE 0OPULATION s %XCELLENT 0ARKING 3PORTS 4HEME s 3EATS &ULL +ITCHEN &ACILITIES s 'REAT FOR (ANDS ON /WNERS s $525,000

HOUSTON, B.C. s 3EPARATE -OTELS ONE UNITS AND ONE UNITS s "OTH ON (IGHWAY ABOUT METERS APART s "OTH HAVE FREE STANDING RESTAURANTS ONE IS ,EASED s 3ELLER MAY CARRY A lRST MORTGAGE s 0RICED AT $1,700,000 & $1,500,000

or $2,950,000 for both

SOUTH OKANAGAN s 5NIT -OTEL NEAR THE "EACH s 4REMENDOUS #ONDITION s .ICE "EDROOM ,IVING !REA s *UST -OVE )N 3TEADY )NCOME s $1,250,000

PENTICTON s 7ORLD #LASS SETTING JUST OFF ,AKE /KANAGAN s 5NITS A "DRM !WESOME /WNERS 3UITE s ! "DRM -ANAGERS 3UITE ON !C OF ,AND s 2ESTAURANT TO ,EASE OR #ONVERT TO 5NITS s 3WIMMING 0OOL JUST STEPS TO THE "EACH s $3,198,000

RECENTLY REDUCED BLAIRMORE, AB s 5NIT AND 2ESTAURANT s Was $ 795,000 Now $ 749,000 SHUSWAP PUB & GRILL

BARRIERE, B.C. s 7ONDERFUL -OTEL AND 26 0ARK ON !CRES s )MMACULATE -OTEL 5NITS s &ULL 3ERVICE 26 3ITES WITH 7ASHHOUSE s %XCELLENT "EDROOM (OME 'ARAGES s $695,000

GRAND FORKS – 25 UNIT CEMENT BLOCK BUILDING s Was $ 599,000

Now $ 579,000

s %XCELLENT ,OCATION IN #ANOE NEAR ,AKE s 6ERY .ICE "UILDING *UST UPDATED WITH .EW 0AINT &LOORS 4ABLETOPS %4# s ,IQUOR 0RIMARY &OOD 0RIMARY 0ATIO s 3ELLER -AY #ARRY $595,000

REVELSTOKE s &ABULOUS 3EASON 2ESORT (OTEL s ,ODGE WITH @MOTEL 5NITS 0UB 2ESTAURANT 3WIMMING 0OOL s ,OG #ABINS WITH (OT 4UBS s !CRES &URTHER $EVELOPMENT 0OTENTIAL s 3ELLER -AY #ARRY $3,495,000

$0/5&/54 +6-: */5&3*03 # $ Â… "-#&35" Â… 4"4,"5$)&8"/ Â… ."/*50#" 4&$5*0/

FEATURES 7 0/ 5)& $07&3 ,FMPXOB DBMNMZ SFDPWFST

On the cover Patricia Cecconi of La Casa Resort, Kelowna: lakeview cottage prices now at the lowest level in years. Photo: La Casa Resort

Okanagan’s biggest city sees economy gathering steam Download a PDF of all our Regional Roundups online at www.westerninvestor.com

41&$*"- 4&$5*0/ Â… #

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

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

12 0VUMPPL XBSNT GPS SFDSFBUJPOBM QSPQFSUZ

Most agree it’s good investment as vacation deals abound

17 3FE %FFS QSFQBSFT GPS JOEVTUSJBM EFNBOE

Spec developers back in action as tenants scout for space

26 5IBXJOH $IVSDIJMM GFBST FYQPSU GSFF[F

Move to end grain monopoly could hammer port

2–10 */5&3*03 /035)&3/ # $ 3&"- &45"5&

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

14–23 "-#&35" 3&"- &45"5&

22–26 4"4,"5$)&8"/ ."/*50#" 3&"- &45"5&

COLUMNS

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

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

27 '3"/$)*4&4

21 8)"5¤4 )"11&/*/( */ "-#&35" 24 8)"5¤4 )"11&/*/( */ 4"4,"5$)&8"/ 27 '3"/$)*4& /&84

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

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

#/--%2#)!, 02/0%24)%3 ). +%,/7.! !2%! s #100-1553 Harvey Ave., Kelowna, BC V1Y 6G1 LAKE COUNTRY COMMERCIAL & RESIDENTIAL MIXED DEVELOPMENT LAND Hotel, Commercial, and Residential Lands FASHIONABLE DOWNTOWN CORE HIGH TRAFFIC – HIGH DEMAND – GORGEOUS MODERN BUILDING +/- 1,480 square feet. This unit has all the leaseholds in place to bring in your turnkey operation with retail space, reception, ofďŹ ces, overhead loading door and a warehouse area in the rear of the unit. For Lease: $2,343 per month + NNN + HST MLSÂŽ

A +/- 2.93 Acres for $4,399,000 + HST B +/- 0.90 Acres for $1,000,000 + HST C +/- 2.67 Acres for $2,999,000 + HST

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

SUCCESSFUL FRANCHISE LOCATION AVAILABLE Solid franchise opportunity with one of the best names in the glass business. With an already proven business model they will train, coach and assist you through the whole process. Available: $199,000 MLSÂŽ

SMALLER INDUSTRIAL UNIT GREAT LOCATION 872 +/- sq. ft. corner location with visibility from Rutland Road. Zoned Industrial I1. Lots of light, large tinted windows. Exclusive loading door. Easy access to Highway 97N with the airport 10 minutes away. Asking $799.33 per month + NNN + HST MLSÂŽ

DOWNTOWN KELOWNA – COMMERCIAL STRATAS AVAILABLE This is an opportunity to own your own commercial strata unit in the downtown core ranging in sizes from approx. 838 2,194 square feet. One block away from city hall and two from the law courts. Available For Sale: $251,550 - $668,264 MLSŽ

IMPROVED OFFICE SPACE – HIGH TRAFFIC – CENTRAL LOCATION 1,429 +/- square feet. Fully improved ofďŹ ce space ready to go. This unit has multiple ofďŹ ces, boardroom, reception area and a three piece washroom. Even the furniture is negotiable! Asking $1,190.33 per month + NNN + HST MLSÂŽ

UPDATED OFFICE STRATA UNIT AVAILABLE Approx. 1,163 square feet of improved ofďŹ ce space available for purchase. This unit is conveniently located just off of Highway 33 in the Rutland area. Asking $268,000 + HST MLSÂŽ

FORMER CIBC BRANCH LAND & BUILDING Subject property is located in an area which is increasingly being re-developed into an upscale commercial area. The lands are fee simple with 13 parking spaces on the property. The 6,337 sq ft is broken down with 4,362 sq. ft. on the main oor and 1,975 on the second. Asking: $1,595,000 + HST MLSŽ

B4 Interior British Columbia KAMLOOPS, BC & AREA UÊ Clearwater, BC – Mobile Home Park land. 15 acres plus 2.7 acres commercial, fronts on highway. Super buy !ÊÊ $289,000 UÊÊKamloops – 4000 sq ft building ½ acre lot, commercial mix. High traffic area Ê Ê $788,000 or lease @ $12.00 triple net UÊÊClearwater, BC – Chinese restaurant land, building, ¼ acre lot, equipment, liquor license, 4 bedroom suite. $289,000 UÊBarriere, BC – 5 unit mini mall plus full basement, hwy frontage, plus vacant lot to expandÊ$399,900 UÊÊLouis Creek, BC – 2.49 acres creekside parcel. 9yr old 1600 sq ft rancher with suite, plus 6 rental pads for park model homes. Most tenants away for winter. Plus extra large 30’ x 50’ detached shop – fits a motor home. Ê $795,000 UÊÊChase, BC – Pub liquor store, restaurant on main floor. 14 rooms on 2nd floor which need substantial work reflected in price.ÊÊSuper buy $600,000 UÊÊKamloops– New office retail building to be built. 3414 sq ft ideal professional office in busy residential sub div. $2668 plus triple net lease UÊÊClearwater, BC – Former school 11,000 sq fit with full gym 22 ft ceilings, make great church, school hall or? All on 6 acres. $399,000 ÊUÊÊKamloops – INVESTORS – 8% Cap rate restaurant. Fronting E Trans Canada Hwy. Leased out. $8,000/mo triple net. $1,200,000 UÊÊKamloops – Busy city centre 180-seat restaurant. Owner wants to retire. $500,000 for business or $1,700,000 for business, building & land

LIGHT MANUFACTURING AND DISTRIBUTION COMPANY FOR SALE Founded in 1967, this very successful and well known company manufactures and distributes several lines of outdoor productsto residential, commercial and industrial clients. Aside from its own retail operations, the company also supplies a growing national network of 16 dealers. Having established itself as a market leader, and having established strategic business alliances, the company is well positioned for further rapid growth. Our production facility is based in the Beautiful Okanagan Valley of British Columbia.We have a staff of 11 to 14 well-trained dedicated employees, that ensure the quality of our products and the smooth operation of our facility The company provides great returns on investment/cash flow, and unlimited profits with the continued expansion of product lines and dealers.

PENTICTON

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

$1,999,000

PENTICTON

LAKEFRONT PENTHOUSE WITH MOUNTAIN VIEWS AVAILABLE IMMEDIATELY

1 BDRM + DEN: $529,000

PENTICTON

LAKEFRONT PENTHOUSE AMAZING VIEWS OF OKANAGAN LAKE AVAILABLE IMMEDIATELY

2 BDRM + DEN: $1,599,000

OSOYOOS 10 INCOME PRODUCING LAKEFRONT RV LOTS

Please visit our website or call for more details.

For more information please contact Kevin at: kevinq752@hotmail.com or call 250-826-6040 Confidentiality Agreement Required

1-250-374-3022 mmatt@shaw.ca

www.realestatekamloops.ca

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

FOR SALE

$1,250,000 + HST

Asking price: $1,450,000

Call MARVIN MATT ""*-Ê, /9Ê / °

www.westerninvestor.com JULY 2011WESTERN INVESTOR

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

FORECLOSURE SALE – $200,000 PRICE REDUCTION! INDUSTRIAL BUILDING – SUMMERLAND

UÊÊÓ°È{Ê VÀiÊ- ÌiÊÊUÊÊÎä]äääÊõ°ÊvÌ°Ê-Ìii Ê À> iÊBÕ ` }Ê Ü Ì ÊÈ{nÊõ°ÊvÌ°Ê vwÊViÊë>ViÊUÊ Õ ÌÊ ÊÓääÇÊÊUÊ*À Vi`Ê Li ÜÊf{xÊ*- ÊUÊÊ< }Ê> ÜÃÊ Õ iÀ ÕÃÊ«iÀ ÌÌi`ÊÕÃiÃ

NEW Asking Price $1,650,000

TWO NORTH OKANAGAN SELF STORAGE FACILITIES

monarkinvestments.ca

604-592-7250

Financing Available. Potential Trades.

VERNON & AREA TRADES CONSIDERED ON SELECT PROPERTIES PREMIUM STORAGE YOU OWN! GARAGETOWN VERNON Garage/condo complex offers 47 fully customizable storage units. 20x48, 24x48 and larger w/ 14 & 16’ overhead doors plus ultra convenient drive through model. Ideal for RVS, boats, collectors, retail and business overflow. Level 3 acre site w/ quick access to all major routes. Fully furnished Owners Lounge! Offering preconstruction incentives from $125,900 MLS® ONCE IN A LIFE -TIME OKANAGAN LAKESHORE ESTATE! Just imagine - your private piece of paradise - 22.5 untouched acres with 1750 ft of pristine Okanagan Lake waterfront! Exhilarating views! Several excellent building sites. The best of the Okanagan - barely 15 minutes from the City of Vernon $4,900,000 MLS® ONE OF A KIND – LARGEST PRIVATE WATERFRONT PROPERTY ON KALAMALKA LAKE Two titles. 2.54 ultra private acres with 254’ easy-swimming lakeshore. Adjacent to Kalamalka Provincial Park. Amazing home offers 7 bedrooms w/ private baths PLUS a stratified two bedroom suite. Fabulous grounds with spectacular views, pristine lakeshore, waterfront dock and wharf! Barely 10 minutes from downtown Vernon and 30 minutes from the Kelowna international airport. $4,900,000 MLS®

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

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

Asking Price $6,750,000

Asking Price $4,995,000

MOBILE HOME PARK – MERRITT

TRANSCANADA HIGHWAY FRONTAGE 1.8 acres with 500’ frontage. Previously operated as Gas station, store, restaurant, launderette. Includes rental suite and 5 unit mobile home park. Main stroe built in 2003/ Sold As is Where is. Opportunity! $515,000 MLS® NURSERY/HORSE SET-UP In heart of Coldstream Valley! Turn key operation! Steady Growth! Equipment, automated greenhouse, vehicles, comfortable home with suite, office. 20 prime irrigated acres w/ set up for horses. $1,600,000 MLS®

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

FORMER PACKING HOUSE OFFERS 38,000 SQ.FT. Warehouse can be cooled or heated. Of street semi-trailer, staff parking. Extremely solid. Zoning supports brewing/distilling, commercial, retail, care center, apartment and more. Downtown location. $1,949,000 MLS®

LAND – OSOYOOS

4.62 ACRES INDUSTRIAL LAND W/BUILDINGS 40,000 sq.ft. in two bldgs. 3 phase power. I2 zoning. Railway Trackage. Currently operates as small sawmill & wood re-manufacturing plant. 10 mins from Vernon adjacent to ready supply of dimensional lumber. $2,250,000 MLS®

21.8 ACRES – PRIME HOLDING PROPERTY UÊ À iÀÊà ÌiÊ Ê } ÊÌÀ>vwÊV]Ê } ÊiÝ« ÃÕÀiÊ V>Ì ÊÜ Ì Ê ÛiÀÊ£]äääÊvÌ°Ê } Ü>ÞÊÎÊ vÀ Ì>}iÊ« ÕÃÊ£]£ÇxÊvÌ°ÊÃiV `>ÀÞÊÀ >`ÊvÀ Ì>}iÊUÊ/ Ü ÊÃiÜiÀÊEÊÜ>ÌiÀÊ>ÌÊ ÌÊ i UÊ6iÀÞÊV ÃiÊÌ Ê > iÊUÊ V Õ`iÃÊ ÕÃiÊEÊ «iÀ>Ì }Ê ÀV >À` Asking Price $2,400,000 2.13 ACRE DEVELOPMENT SITE UÊ/ ÕÀ ÃÌÊ iÀV > Êâ }ÊUÊ À Ì>}iÊ ÊÎÊÀ >`ÃÊUÊ*À iÊ V>Ì Ê ÞÊÎääÊviiÌÊÌ Ê > i UÊ V Õ`iÃÊÀi Ì> Ê ÕÃiÊUÊAsking Price $695,000

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

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

IDEAL FOR WATER BASED BUSINESS .51 level acre zoned I1 Light Industrial. 18’ x 30’ shop and 3 bdrm house. Located between downtown and yacht club/boat launch. Next to airport. Rare Find! $688,000 MLS®

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

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

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

Interior British Columbia B5

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

MERRITT NICOLA VALLEY INVEST in a booming community! A great opportunity to purchase 7 fully rented 3 bedroom, 2 bathroom townhouses, located in the downtown area close to shopping. Under $100.000 per unit. This development has had recent upgrades including: new windows, new roof, new fencing. Buyers to receive & read development disclosure. Information package on future confi rmed Industries available.$653,000 Call L.B. for details.

SALMON ARM, B.C. 14 apartment condominiums to be built to complete the 38-unit Valley Vista on a two-acre sloping property. Excellent view of Shuswap Lake from one side, forest on the other. Onebedroom, 600 sq. ft., two four-plexes and a sixplex. Some suites are level entry. Can be rented. Quiet pets welcome. Modulars built by SRI Homes in Kelowna. Foundations are ready and waiting for the two four-plexes. All services and driveways are in.

BUSINESS AND INVESTMENT OPPORTUNITIES UÊÊ >À}iÊ >V iÉ7i ` }Ê- «Ê– Suitable for investor or owner/operator. Includes land & buildings. fÓ°ÓxÊ UÊÊ `ÕÃÌÀ > Ê iÛi « i ÌÊ > ` – 130 acres, with highway and railroad access. Reduced to $995,000 UÊÊ vÊ ÕÀÃiÉ iÛi « i ÌÊ > `Ê qÊ Interior 162 Acres Deluxe Residence - Club House etc. Offers toÊÊ fΰÓxÊ COMMERCIAL BUILDINGS UÊ > «Ã – 2 Tenants – 8.5% Cap UÊ > «Ã – Future Highrise expansion

DESCHENES TEL: 250 314 4530 WESTWIN REALTY bernard@kamloopsrealestate.info

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

fÎÈ ]äää

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

sallys1@telus.net or 250-832-4831

BUSINESS LOANS & MORTGAGES

$299,000 f£°{Ê

UÊ >V iÊ Àii – Hwy Frontage – Secure Yard

SALLY SCALES

BERNARD

$450,000

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

KELOWNA & OKANAGAN ACREAGES FOR SALE www.davidjurome.com

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

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

DAVID JUROME 250-862-1888

davidjurome@gmail.com

Prime Waterfront South Okanagan

7

ACRES

LAKEFRONT

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

COLDWELL BANKER COMMERCIAL WORLDWIDE LARGE CONSTRUCTION PROJECTS UNDERWAY IN OUR AREA C-STORE, GAS BAR, LIQUOR STORE, POST OFFICE

18,000 SQ. FT. DISTRIBUTION OR MANUFACTURING CENTRE

FORMER GROCERY STORE WITH APARTMENT PRIME DOWNTOWN LOCATION $114,900

NICELY LOCATED WITH ADEQUATE PARKING AND FENCED STORAGE

$799,000

AREA $750,000

INTERNATIONAL SCHOOL

QUALITY INN 48 ROOMS

OVER 50,000 SQ. FT. PROPERTY

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

HOTEL, LIQUOR STORE, RESTAURANT $699,000 DER SALE

COURT OR

$2,495,000 DEVELOPMENT PROPERTY NOW REDUCED $575,000

4000 sq. ft. Body Shop well equipped, plus 3 Bay former Auto Body Service Centre. 600 Ft of Highway Frontage 1ST TRAIL REAL ESTATE LTD.

LIQUOR STORE & RESTAURANT PUB

BLOCK MOTEL NINE UNIT & MOBILE HOME REDUCED TO $695,000

16 Newly Finished Rooms Extensive Fire updates, New Sprinkler System Vendor May Finance

$1,490,000

7 Acres of Developable land at the entrance to Red Mountain Ski Resort

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

B6 Interior British Columbia Okanagan Investment

www.westerninvestor.com JULY 2011WESTERN INVESTOR

FOR LEASE RETAIL OFFICE SPACE

s 3ITUATED IN 6ERNON s 7ITH GROSS INCOME OF MNTH s 4HIS DUPLEX HAS BEEN OWNER OCCUPIED FOR LAST YEARS s )N EXCELLENT CONDITION

Go to

www.OKhomesellers.com to view Listing # 26641 Asking $479,900

Call John Brkich, 250-542-8844

NELSON

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

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

B.C.

COMMERCIAL LAND & BUILDING $749,000.00

1.78 acres with an 11,750 sf commercial building. Very well maintained, quality building just a few minutes south of Nelson. Easy Highway access. Good exposure for a destination business. Current, successful use is a retail Furniture store. This  exible building design allows for multiple retail and/or manufacturing uses. Continue to use it to house one business, or turn the space into a multiple commercial location. Very spacious parking lot & a very spacious building with a mezzanine, warehouse and showroom. Enjoyable Cottonwood creek side. Many recent upgrades includes a new roof membrane in 2006, 2 new high efďŹ ciency gas furnaces, & a new septic tank and ďŹ eld. Call David Gentles @ 1-888-534-8225 To view listings go to :

www.nelsonproperties.ca

COURT ORDERED SALE:

Merganser Bay Resort at Sugar Lake

Waterfront resort with 47 remaining of 67 recreational properties. A lodge w/4 rental suites & caretakers residence. 5.98 acres of land plus 2.5 acres for future marina. Zoned C5 Recreational Commercial. A unique development opportunity for continued rental income and resale of lots, as undivided interests. 22 cabin lots, 33 RV lots, 11 Park Model lots and one lot for the main lodge and common areas. Recently serviced lots with an elaborate on-site sewage system. Attractive terms available. Asking $2,950,000 subject to court approval. MLS 10027799

For Information, contact

JOE UNGARO 250 317-1819 joeungaro@shaw.ca

TERRY ALBRECHT 250 862-6554 terryalbrecht@shaw.ca www.RealEstateKelownaBC.com

DAVID GENTLES Cell 250-354-8225

KELOWNA – UNGARO ALBRECHT

Each office is independently owned and operated.

PROFITABLE RESTAURANT BUSINESS & LAND 0 24,00

CLINTON B.C.

$2

UĂŠxäĂŠĂžĂ€ĂŠÂ…ÂˆĂƒĂŒÂœĂ€ĂžĂŠ ĂŠ ÂˆÂ˜ĂŠĂŒÂœĂœÂ˜ UĂŠ ÂŤÂŤĂ€ÂœĂ?ĂŠ°{äĂŠ>V°ĂŠĂŠ ĂŠ ‡ÓÊ<œ˜ˆ˜}ĂŠ UĂŠ7ÂœĂ€ÂŽÂˆÂ˜}ĂŠÂœĂœÂ˜iÀÊVÂœĂ•Â?`ʓ>ÂŽiĂŠfÇä]äääĂ‰ĂžĂ€ĂŠĂœÂˆĂŒÂ…ĂŠĂŠ ĂŠ Ă€iÂ?ˆ>LÂ?iĂŠiĂ?ÂˆĂƒĂŒÂˆÂ˜}ĂŠĂƒĂŒ>vv]ĂŠÂœĂœÂ˜iĂ€ĂŠĂœÂˆÂ?Â?ĂŠĂŒĂ€>ÂˆÂ˜ĂŠLĂ•ĂžiĂ€

Escape to small town BC and low cost living in this turn key operation STEVE MERKAL 1-800-226-8693

Subscribe

RE/MAX Colonial Pacific Realty

CALL NOW 1-800-661-6988 www.westerninvestor.com

CAPTAIN’S CORNER MARINE SALES – Salmon Arm $390,000 Golden opportunity to own a highly successful Marine Sales & Service business in beautiful downtown Salmon Arm. Excellent rent with a highly visible location and existing signage with long term clientele base. Indoor showroom, engine shop & rigging bay with hoists & gantries. Fenced and secure compound, agreements with boat manufacturers in place for sole distribution rights. Current lines handled - Lund, Ducksworth, Merc, Evinrude, Susuki, Hummingbird, Minn Kota, Roswell Towers and more. This price does not include Goodwill. This business is well established and has an excellent reputation in the area. Owners willing to train. Mechanics are fully certiďŹ ed on IB/ OB & jet. Seller is open for offers on this thriving business. Enjoy a lifestyle with income! HIGH TRAFFIC COMMERCIAL BUILDING - Sicamous, BC $769,000 Highly visible commercial, 6970 sq ft multiunit building located on the Trans Can Hwy in Sicamous. Currently leased with 3 tenants and a 1440 sq ft residential unit above. Large 0.61 acre lot with paved parking, sewer to the lot & 3 phase power. New roof installed in 2010 (tar & gravel). Building can be demised to accommodate various tenants. Constructed of concrete blocks in mid 1980's and zoned C-2 - Highway Tourist Commercial. Canopy over concrete sidewalks. strategies (Highest & Best Use- strip mall/motel/hotel). $1,550,000 www.shuswaphomesearch.com Garth Lord, P.Eng. Personal Real Estate Corp. ÂŁĂŠnnnÂ‡ĂˆĂ‡ĂˆÂ‡Ă“{ĂŽxĂŠĂŠUĂŠĂŠÂŁĂŠĂ“xä‡nÎӇÇäxÂŁĂŠĂŠUĂŠĂŠglord@remax.net

RE/MAX Shuswap

Attention Agents:

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.

B7

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

COVER B.C.’ s third-largest city is now seeing the real estate recovery that locals calmly expected all along

,FMPXOB LFFQT JUT DPPM FRANK O’BRIEN WESTERN INVESTOR he 2008-09 recession that quaked B.C.’s central Okanagan did damage in its largest city but left confident Kelowna stirred but not shaken.

Photo: Larry O’Brien

Now, with even chartered accountants getting excited about the recovery, the city of nearly 100,000 is calmly getting ready to reclaim its standing as one of the hottest real estate and investment markets in Western Canada. Compelling evidence is seen right on downtown Kelowna’s South Pandosy Street, where seven buildings were taken down for the construction of the $25 million mixed-use SoPa project by local developer Edgar Fenwick. SoPa, which started in the midst of the downturn, has already leased out all of its block-long ground-floor retail, which will open in 2013. Above the retail are 96 residential condominiums capped by large luxury penthouses, priced from $1.2 million to $1.3 million. “It was the best penthouses, the lakeview ones, that sold first,” said sales agent Kayli Andersen. Only three of the eight penthouses remain unsold, yet SoPa’s residential component won’t complete for four years. Tellingly, the buyers aren’t Albertans or cashheavy Vancouverites. It is Kelowna residents who have bought all the penthouse units and most of the other condos. The SoPa also offers one-bedroom condos priced from $351,000, or an average of $600 per square foot, close to what condo buyers are paying in Calgary and Metro Vancouver. “SoPa is not recreational property,” Andersen stressed. “These homes are for full-time residents.”

Photo: La Casa Resort

5

La Casa Resort above Okanagan Lake has cut prices on both finished cottages and building lots, says marketing director Patricia Cecconi: some cottages are offered at under $200,000.

Sales agent Brittany Gray with a model of the SoPa mixed-used project in downtown Kelowna: $1 million-plus penthouses were snapped up first.

and is still struggling. Enticed by visions of wealthy Albertans and U.S. investors, developers overbuilt and overpriced resort properties. The resulting crash was ugly, with many projects stopped, some forced into court protection – such as the ultra-luxury Tuscany Villas and Copper Sky Developments in West Kelowna – and many spec developers left with empty space, nervous lenders and few options. Some slashed prices, nearly all waived sales taxes and a few even included a free boat with every purchase. But, as one frustrated Okanagan developer told Western Investor last month – after a $60,000-per-unit price cut failed to move units – “it’s not the price, it’s the market.” And the market is still tough. There are about 1,700 Kelowna homes listed on theMLS of the Okanagan Mainline Real Estate Board, and 3FDSFBUJPOBM The distinction is important, because it’s the average home is on the market for 86 days. Kelowna’s once white-hot vacation real estate In May, the average house price in Kelowna market that took the biggest hit back in 2008 was down 6 per cent from a year earlier to

$471,128 and total sales were only 168 homes, compared with a 10-year average of 268. Prices are generally at pre-boom values. Some developers, though, believe this will bring the buyers back. “Basically we are back to 2005 prices,” said Patricia Cecconi of La Casa Resort, a cottage development above Lake Okanagan in Kelowna. Asking prices, she said, are down 20 per cent to 30 per cent from the peak and, in a special promotion, La Casa is offering a completed 700-square-foot non-view cottage for $199,000. That is the kind of value that would have sparked a bidding war three years ago. This spring, Cecconi said, it had drawn a lot of lookers but no signatures on the dotted line. (Resales at La Casa see lakeview cottages priced at around $320,000.) Still, those looking for waterfront bargains won’t find many. Typical lakefront homes sell well north of $1 million and prices here have

barely budged in the past two years.

3FDPWFSZ

Kelowna’s residential and commercial real estate agents may see an upturn sooner than expected. A report this year from theChartered Accountants of BC forecasts a recovery that began in 2010 is gaining traction right across the Thompon-Okanagan region. The report found that, after sustaining significant job losses in 2009, the regional economy rebounded last year with the addition of 9,200 new jobs. With a job-growth rate of 3.7 per cent, the region exceeded the average provincial increase of 1.7 per cent, the study found. Also, the number of business incorporations and establishments increased in 2010, reflecting growing entrepreneurial and investor confidence. The accountants note that new projects starting construction in the region last yea r

Please see Leases page B8

*OUFSJPS #SJUJTI $PMVNCJB

@6BADDEH

TALASA VILLAGE CENTRE KAMLOOPS, BC

Kamloops Investment Opportunity 8025 Dallas Drive Located 15 minutes east of Kamloops in Gateway Industrial Park. Property can be subdivided, with no geo-technical concerns and great access to the Trans Canada Highway.

For Lease Building size 10,000 up to 50,000 sq.ft. Lease rate depends on construction, lease term & tenant. Great opportunity for new business or expansion.

PUB / BEER & WINE STORE Pre-Leasing & Sales Opportunity UÊÊxäääÊõ°ÊvÌ°Êë>ViÊv ÀÊ>ÊnäÊ £ääÊÃi>ÌÊ*ÕL UÊÊ* Ìi Ì > ÊLÕ ` ÕÌÊ yÕi Vi

For Sale

UÊÊ"VVÕ«> VÞÊÓä£Ó

Owner will also do a “build to suit” &/or lease back

UÊÊ i ÌÀ> ÞÊ V>Ìi`Ê Ê>Ê} vÊÀià ÀÌ ÃÌÞ i

Lot 1-3 acres of zoned light industrial ASKING PRICE $795,000

Ê Ü Ì Ê>ÊÌ Ì> ÊLÕ ` ÕÌÊ vÊÓäääÊ ið

Ê Àià `i Ì > ÊV Õ ÌÞÊ Ê > «Ã]Ê

Lot 2-2 acres of zoned light industrial ASKING PRICE $450,000

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

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

Email: mona@mcmrealestate.ca

www.mcmrealestate.ca

"vwVi\Ê250-372-2277 mona@mcmrealestate.ca www.mcmrealestate.ca

ÜÜÜ°/> >Ã> Û }°V

B8 Northern British Columbia

$PNNFSDJBM

As the takeup of store space at the SoPa development underlines, retail is perhaps the strongest sector in Kelowna commercial real estate. Last year, 202 new business incorporations were established in the city and region, an increase of 8.5 per cent from a year earlier. The current retail vacancy rate is 3.6 per cent, according to Colliers International, but spikes

Sicamous, BC

Multi-Unit Residential 10 Unit Residential Townhouse Property. Potential to stratify units for resale. Gross revenue of $88,800/yr. Annual expenses: taxes $5,080, water/sewer $4,000, insurance $950. Reduced to $849,000 (sold in 2007 for $1,000,000). Approx. mortgage pmt. on $675,000 = $3,800/mo*

Email tekamar@telus.net or call 1-800-658-2345 * Financing available O.A.C.

PRINCE GEORGE

opportunities

2VJDL GBDUT Kamloops

97 97

5

KELOWNA âœŞ

ag

B.C. OKANAGAN

an

97C

Lake

Vernon

97

an

were down 50 per cent from a year earlier, to a total value of $800 million. “This decrease reflects the withdrawal of second home, resort and investor buyers who had been the catalyst for much of the development,� the report remarked. But government spending has helped to put a base under the construction economy, with close to $12 billion in institutional projects going ahead this year. These include the $433 million Kelowna General Hospital expansion and the $25 million expansion of Okanagan College. Together with the University of British Columbia Okanagan, Kelowna has more than 11,000 university students during the school season. The hospital and the universities are Kelowna’s largest employers. Despite the influx of students, however, the apartment rental vacancy rate in Kelowna has increased to 6.6 per cent, up from 3.7 per cent a year ago, according to an April survey by Canada Mortgage and Housing Corp.

as high as 8.2 per cent downtown, mainly due to a couple of large vacancies. Orchard Park Shopping Centre, the city’s main mall, is currently under renovation to welcome Best Buy Electronics, which will open this year in about 34,000 square feet. The mall is 100 per cent leased, as in Kelowna Crossing Shopping Centre, Spall Plaza and the bigbox Central Park Power Centre on the edge of town. Lease rates in anchored shopping centres are from $16 to $30 per square foot, while smaller centres post rental rates in the $10-to-$25-persquare-foot range. Lease rates downtown, such as along Bernard Avenue, are $14 to $18 per square foot. Retail space in Kelowna is selling for around $280 per square foot, based on the six most recent transactions. The industrial market is less robust. Lease rates are falling – down as much as $2 per square foot in some locations – and the industrial vacancy rate was at 7.2 per cent in the first quarter, up from 6.4 per cent at the end of 2010. Average lease rates now average $8.75 per square foot, down $1 from the peak in 2008, Colliers reports. Vacancy has climbed back up to 2005 levels, the year that Western Star left Kelowna for Oregon. The Western Star building remains empty, as does the nearby former Crown Packaging warehouse on Potterton Road, together accounting for nearly 300,000 square feet of vacant space. Subleasing has become more common in

Ok

-&"4&4 from B7

www.westerninvestor.com JULY 2011WESTERN INVESTOR

Summerland Penticton

,FMPXOB # $ Population 94,000+ Average house price $471,000 Apartment vacancy rate 6.3 per cent Retail lease rate 3.2 per cent Major employers Government, service industry, tourism

Kelowna, with some tenants accepting below market rates to fill the space. Industrial land prices have softened: recently an acre of land in the Marshall Business Park went for $980,000 in a court-ordered sale. More typically, industrial space is selling for around $150 per square foot. Kelowna has 1,320 acres of zoned industrial land and a further 1,721 acres not zoned but marked for industrial use under the official community plan.â—†

FORT. ST. JOHN SHAPE YOURSELF FOR SUCCESS!

FULLY LEASED INVESTMENT PROPERTY! 9948 - 100th ST

#102, 10419 - 100th ST Turnkey ladies only gym. Everything included to take over “tomorrow�. Appt. Needed, no walk-ins.

$57,900 - MLS# N4504696

Excellent tenants, fully renovated building. Showing a 10% Cap Rate

$2,700,000 MLS# N4504630

A RARE FIND!

INVESTORS ALERT!

10433 - 269 Rd 7000 sf building offers 1000 sf of ofďŹ ce/reception & 6000 sf of shop space ,4-16’ O/H doors & 1-14’ O/H door, 17’ ceiling, 200 amp service, just under 1 acre of land. $915,000 - MLS# N4504751

10016 - 106th Street

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

$340,000 - MLS# N4504196

RELOCATE & EXPAND HERE!

OPPORTUNITY KNOCKING! 8224 - 93rd Street

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

$3,200,000 MLS# N4504450

1050 sq ft of ofďŹ ce w/ hardwood  oors. Front reception & display area & the shop with 3 bays, 1 is drive through/wash bay. Radiant heat, mezzanine area, 14’ overhead doors. Fenced compound all on city services.

$879,000 - MLS# N4504836

KATHY MILLERCURTIS ROBINSON PERSONAL REAL ESTATE CORPORATION

Remax Action Realty 1991 Inc.

Invest in your future Two waterfront properties Ideal for recreational/residential development Parcel 1 - 55 acres, 3 titles $520,000 approx 1650’ of lakefront, easy access Parcel 2 - 26 acres, 2 titles $325,000 approx 1450’ of lakefront, hwy access Riverfront townhome site $575,000 1.76 acres - approx 263’ of riverfront zoned RM1 - multiple residential preliminary drawings for 13 TH’s on file 7.3 acres along the Nechako River $545,000 zoned res - not in the ALR - subdividable picturesque with a lovely mix of trees hydro and driveway on property Prime high profile location $749,000 Hwy access near Costco & Future Shop 3664 sq ft building on 1/2 acre lot zoned M3 - Business Industrial

Elaine Kienzle 250

563-8769

www.elainekienzle.com

0RWHO 9 " 1 ( ' $ $ ) , $ ! # ' # $# , $ , % $ '$ ( (# $## $ , +LJKZD\ ([SRVXUH )RU VDOH RU /HDVH 10*/// , , ( # * " 2*/// , , ' $ , $ # * $ $ $ $ , ' # ( $

$ $# # , 2 $## $ ,QGXVWULDO &RPSOH[ 1+( # 93*/// , , 0/,16 $ , (# $ # $ , '$ $ !$ $ #$(# , $## $

08*6// "$ 0 $ .0*2//*/// # $ 4 .5,5/ 8,7 $ $#

.6*6//*/// ,16 $ ' # $' # ( $ + $# .060*///, 8 # " $ $ * .589*/// 001$ # .0*39/*/// 5*0// $# ( # 1,81 $ .0*0//*/// # $ .8,// 0/ ' # ,90 $ .115*///, 0// $ $ $ ( " + " .63*9//,

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

The Power Of Partnership!

marketing your franchise? Call the

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

05,60 $ "$ 97 762 $ , '$## ' $ # $ $ # # ' ( # , .675*///, $## # & " * $ # * .3*1//- , * ! .399*888, $##

Northern British Columbia B9

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

Burns Lake

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

Business Opportunities Fourplex rental Unit $289,000 Art Studio with a long term tenant & a vacant fast food CafĂŠ for $229,000

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

Waterfront Properties 2900 Sqft home - $399,000 2800 Sqft home - $329,000 1900 Sqft home - $145,000 1300 Sqft home - $190,000

Burns Lake and Area Representative

DENNIS BOCK

Contact: Kent Laverdure at 250-202-0182

PRINCE GEORGE

250-692-3530 www.landahome.ca

RECESSION PROOF BUSINESS

THRIVING TAXI COMPANY IN WILLIAMS LAKE, B.C. Only company in Williams Lake. Diverse business with contracts for CN Rail and Canada Post, WCB etc. Shares sale. Included: Land and Building, Cars and licenses. Business related equipment. Asking price $495,000 Over $750,000 Gross/year. Financial papers available on request. Call (250) 392-4056 or e-mail coral001@shaw.ca

NORTHEAST BC REALTY Ltd.

!" # $ % $ % &

% "" !" &'( '" )# '" '

( ) *

* + # ,- .# ! " /0% *10 & 2 ( + , (

(

K < I I8: < # 9 :

Phone 250 785 4115

“Investing Our Energy In The North� Located at 9912-100 Avenue Fort St John BC V1J 1Y5 www.northeastbc.com F: 250 785 4120 RON RODGERS - OWNER / MANAGING BROKER

FOR SALE - FORT ST JOHN BC

!" # " $

0, DfY`c\ ?fd\ GX[j

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

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

› ?flj`e^ fe knf j`k\j Xcc fZZlg`\[ › >ifjj `eZfd\ fm\i *''#'''% › + d`elk\j ]ifd NXcdXik › 8jb`e^ )#,''#'''

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

MLSÂŽ N4504616

NO DROP INS

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

Call Ron for information package or to arrange to view Note: CONFIDENTIALITY AGREEMENT MAY BE REQUESTED Prior to release of information

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

Westwood Dr.

8% Cap Rate

FOR LEASE – Prime retail & professional ofďŹ ce spaces. High trafďŹ c area, visual exposure, parking and much more. Net Lease.

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

'Dutch Maid Laundromat'

Fraser Lake, B.C.

Established fully equipped Laundromat. Price includes 32 washer, 33 dryers, tables, chairs, laundry carts, hand baskets, commercial shower & much more.

FOR SALE – Fraser Lake municipal development park. Commercial and Industrial lots of various sizes.

1921 Upland St.

“Bee Lazee RV Park & Campground�

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

www.beelazee.ca

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

4986 & 5008 Hartway Dr.

353 Victoria St. FOR LEASE – Quality, visible 1,100 sq ft RETAIL space on 3rd & Victoria St. Net Lease.

Two separate lots, cleared, level & highway access. Zoned M-3.

The Endako Hotel

722 Stuart Dr. Ft. St. James, B.C.

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

Outstanding opportunity 10% plus Cap Rate. Fully renovated 11 unit apartment bldg. At the town park, on the shores of Stuart Lake.

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

Blackwater Rd.

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

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

9368 Milwaukee Way

1396 – 5th Ave.

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

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

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

GEORGE Weinand

250-960-9556

KEN Goss

250-565-7653

THINK REAL ESTATE...The Best Investment on Earth

B10 Northern British Columbia

Look Here For

Your Next Investment Opportunity

www.westerninvestor.com JULY 2011WESTERN INVESTOR

DAWSON

CREEK

www.dawsoncreekrealestate.ca

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

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

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

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

SOLD

#129987 - 1380 SQ FT SHOP/OFFICE SPACE 1380 sq ft shop/office space, 2 main bays 30 x 30 and additional 16 x 30 bay. Each bay has separate entrance washroom, 200 amp electrical and furnace. Paved parking lot, fenced compound and additional lot adjacent is included in the asking price of $255,000.

#130029 RETAIL STOREFRONT on 102nd Ave. for sale, 3500 sq. ft on a corner location, paved parking, good visibility can be used for ofďŹ ce, retail, or your own small business. Owner will consider leasing as well $169,000

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

SOLD

IRON CREEK LODGE - HOT NEW PRICE !!! $638,888 50 Acres – Located at the B.C. Yukon border, on Iron Creek Lake which is stocked by the gov’t with rainbow trout. Facilities overlooking the lake include service station, 2 storey lodge with 50 seat restaurant, full kitchen, living quarters upstairs, 8 room motel, 2 room log cabin, 20 serviced R.V. sites...the list goes on. All buildings and services were installed from 1992 to present with approvals and built to code. Steady clientele with tour buses, car, truck and camping trafďŹ c, ďŹ shermen, hikers, snowmobilers, cross country skiers and local trafďŹ c. Priced to sell. Call for a full information package.

#129952 - FOR SALE OR LEASE Multi-purpose building, could have 4 separate units. Total of over 12,000 sq ft, upgrades include updated roof and furnaces Asking price is just $397,000

#130010 - WELDING / MACHINE SHOP for sale Includes 12’ door, 13’ ceilings, 3 phase power, 23o Volt/400 amp service. Gravel yard, 100 sq. ft. ofďŹ ce with shower & bathroom. Fire hydrant, 2 overhead cranes. $260,000 #129953 - RETAIL BUILDING Great location on 10th St over 3,000 sq ft on main and additional 3,000 sq ft on second floor, located next to Scotia Bank, immediate possession available. Asking price of $375,000 FOR SALE OR LEASE 5040 sq ft building on busy Alaska Ave. Many uses, drive thru availability, lots of parking, next to government liquor store. Owner will consider dividing building into two rental units. Priced at $795,000 or 17.50 sq ft to lease.

#130083 - Prime location on Alaska Ave. in Dawson Creek - close to all retail and downtown and still on main artery through the City. Total of 17,000 sq. ft. of new space and can be divided into whatever you need. High end restaurant opening soon, lots of parking.

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

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

Subscribe

#129593: COMMERCIAL BUILDING WITH BEER AND WINE STORE for sale (gross sales of $2,000,000). Great location in Dawson Creek, also 40 apartments, bar/restaurant area and commercial space. Asking $3,500,000. Call for more info. #129257: THE SOUTH PEACE UNITED CHURCH IS FOR SALE. OVER 11,000 SQ. FT. - Sanctuary, hall, kitchen, ofďŹ ces, and support services. Excellent corner location, zoned commercial, very good condition, ready for an ofďŹ ce conversion.

#130090 currently leased located at 1512-97th Ave. Total of 4880 sq ft with 3360 sq ft of ofďŹ ce area and 1520 sg ft shop, 2-14ft doors. Existing lease shows over an 11% return. $425,000 #127545: NEW STRIP MALL has 4 available spaces left for lease, 1,750 sq ft each. Great location on 8th street between Tim Horton’s & The Brick. Lease rates start as low as $16/sq. ft Start your business here.

L A N D #129635: RESIDENTIAL DEVELOPMENT LANDS, 3 separate parcels 25, 79 and 116 acres. Superb location, the timing is right as we are expecting thousands of new people in the near future.

1-800-661-6988

#129877: ONE ACRE OF MULTIPLE RESIDENTIAL LAND suitable for 37 unit apartment or condo complex. Across from the hospital in a prime residential area of Dawson Creek. $179,000

www.westerninvestor.com

#127836: SUBDIVISION FOR MOBILE HOMES! Total of 39 mobile lots are possible on this 4.6 acres, zoning in place, some services are already in, 3 lots have been subdivided. Call for more info. Asking $300,000

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

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

Recreational Real Estate HOT PROPERTIES B11

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

For Sale Halcyon Hot Springs Village & Spa s 3PECTACULAR &ACILITY OFFERS UNIQUE VACATION EXPERIENCES s 9EAR ROUND OUTDOOR PLAYGROUND s .ATURAL HEALING HOT SPRINGS s ACRES WITH METERS WATER FRONTAGE s 0ROlTABLE RESORT LODGE AND SPA BUSINESS s !PPROXIMATELY ACRE BACKWOODS TENURE s 7ORLD CLASS DINING s 3TRATA 6ILLAGE #HALETS AVAILABLE FOR SALE s :ONED FOR FUTURE DEVELOPMENT POTENTIAL For Further Information Contact: Alf Sanderson Vice President, Business Advisory Practice 6ANCOUVER /FlCE $IRECT s alf@naicommercial.ca s www.naicommercial.ca

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

B12 Recreational Real Estate HOT PROPERTIES

www.westerninvestor.com JULY 2011WESTERN INVESTOR

RECREATION FEATURE Albertans most bullish on payback when buying a vacation home, study shows

3FDSFBUJPO B ¥HPPE JOWFTUNFOU¢ WI STAFF WESTERN INVESTOR n overwhelming majority of Canadians who have either purchased or who intend to buy recreational property in the next 24 months believe that buying a vacation home is a good longterm investment, according to a nationwide survey of Canadian attitudes toward recreational property ownership commissioned by Royal LePage Real Estate Services through the Angus Reid Forum.

And, with recreational prices down sharply, more buyers may be willing to take the plunge this summer, agents suggest. Overall, the survey found that 89 per cent of current owners and prospective buyers agree that recreational properties are a good longterm investment. Broken down by region, this included 92 per cent of respondents from Alberta, 87 per cent of B.C. residents and similar levels in most of the country. When respondents were asked to compare recreational properties with the stock market in terms of providing a larger financial return on investment, 50 per cent said recreational properties provided a larger return. Only 29 per cent replied with investing in the stock market, while 21 per cent were undecided. “Canadians’ confidence in recreational property values is mirroring what we have been seeing in Canada’s urban centres,� saidPhil Soper, president and chief executive, Royal LePage Real Estate Services. “This spring, Canada’s traditionally buoyant recreational property

Photo: David Anderson/Sun Peaks Resort

"

Sun Peaks ski and golf resort: one hotel condo recently sold for $19,000 – about $80,000 below its original value. Freehold condo prices at the resort are off 20 per cent from the peak – and sales are firming.

market appears to have found its groove once more and after a two-year downturn.� Interestingly, a majority of respondents (57 per cent) said that the expectation of interest rates rising would not affect their desire to purchase a recreational property. Among this group, 55 per cent of respondents aged 35 to 54 (and 70 per cent of respondents aged 55 plus) said an expected rise in interest rates would not affect their desire to purchase a recreational property. When it came to financial and lifestyle sacrifices to purchase a recreational property, more than a third polled (35 per cent) responded that they were most likely to reduce personal spending throughout the year. The two least favoured strategies were to drive as far as necessary and to make the recreational property a primary residence, both 13 per cent.

lake property

auction TURTLE LAKE PROPERTY THURSDAY JULY 21, 2011 5 ACRE ESTATE AT EVERGREEN ACRES $150,000 OPENING BID

Rare opportunity at one of Saskatchewan’s finest lakes. Beautifully landscaped 5 acre property at Evergreen Acres with a 2297 sq. ft. home and 40'x50' heated shop. Call for a Free Bidder Package. TERMS & CONDITIONS: A non-refundable deposit of 10% of the purchase price will be required sale day. Balance must be paid in full within 30 days. Final bid will be subject to seller’s approval.

“Relentlessly wet and miserable weather has delayed the 2011 buying season in some regions of the country. But while weather delays intent, it doesn’t change it. We expect to see considerable activity in the coming months – especially in higher-end and luxury segments,� added Soper. More than half (51 per cent) of those polled said they are, or will be, renting out their property to offset their mortgage and other associated costs. But many of those willing to rent plan to be selective (32 per cent) and only rent their recreational property to a renter who has been referred by someone the owners knew.

3FOUBM JODPNF

“We are seeing more buyers purchase properties with the intent to offer them as rentals. This cost-offset strategy may allow younger fami-

lies to acquire a cottage earlier in their lives than they would otherwise, and others may be able to buy in a region that would have been ou of their reach, pricewise,� said Soper. Some resorts have already seen an uptick. The new Ridge Resort at Harrison Highlands near Harrison Lake has sold 50 condos since last September, including 22 this year, despite a price increase, according to sales manager Steve Kim of the Newgen Group. Prices now start at $139,900, he said.

(FO 9FST OFYU XBWF

A separate survey by Re/Max Real Estate shows gen-Xers – those born between 1965 and 1980 – are now a force in the recreational market. Buyers in this age group have doubled over the past year, the national survey found. But most of these 30- and 40-year-olds are drawn by today’s lower prices, according to realtors. At Sun Peaks Resort near Kamloops, for example, most of the buyers of the 15 resort condos sold this year where gen-Xers, according to the Re/Max team at the ski and gol f resort. “Prices are down at least 20 per cent from two years,� one agent confirmed. They are even lower for hotel condos at the resort. Only one such limited-use unit (the buyer is allowed to use it 56 days a year) sold this spring – for $19,000. It was priced at more than $100,000 when built four years ago. The reason for the bargain prices is that hote condos have not been producing positive cash flow, since strata fees average $500 per month and any rental income is split 50-50 with the resort, the agent explained. “The owner usually ends up subsidizing the unit,� he said.◆

2 Homes on ďŹ ve acres, just 1 km from Parksville town centre on Vancouver Island The main house consists of 3 bedrooms, 3 baths, at-home spa, swimming pool, sauna, hot tub and exercise room. Two river rock ďŹ replaces and more.

OPEN HOUSES Sat July 2 & Sat July 16, 11:00 am - 12:00 noon

Phone 1.306.445.5000 or 1.800.529.9958

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

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

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

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

DAVE KOSZEGI REALTORÂŽ

of Nanaimo

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

This spacious refurbished log home consists of 4 bedrooms, 2 baths, spacious country kitchen and living room with a river rock ďŹ replace.

+ HST

General buildings consist of a workshop, RV covered storage and a woodshed. 15 acres seeded to hay is also available. Asking $1,250,000

For a virtual tour please go to

Roland Bechthold

www.coastrealty.com

Call Toll Free:

MLS# 307619

1-888-954-4433

COAST REALTY

WESTERN INVESTOR JULY 2011 www.westerninvestor.com sss

Recreational Real Estate HOT PROPERTIES B13 s

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

www.landquest.com LandQuest Realty Corp SmithersÊqÊ i ÃÊ Ài LandQuest Realty Corp CourtenayÊqÊ ÕÀÌÊ i Ãi

PORT BROWNING MARINA SOUTHERN GULF ISLANDS, BC

UÊ >LÕ ÕÃÊ ÀÌ Ê*i `iÀÊ Ã > `Ê V>Ì UÊ* «Õ >ÀÊ >À >ÊÀià ÀÌ UÊ,iÃÌ>ÕÀ> Ì]Ê«ÕL]ÊLiiÀÊEÊÜ iÊÃÌ Ài UÊ > « }Êv>V Ì iÃ]Ê« Ê}ÕiÃÌÊV ÌÌ>}ià UÊ ÓäÊviiÌÊ Vi> vÀ Ì UÊ Àià ÀiÊ i>ÃiÊEÊÎ]äääÊvÌÊ vÊÜ >Àv UÊf{]nää]äääÊÊ

LandQuest Realty Corp NanaimoÊqÊ i> Ê Õ `Þ LandQuest Realty Corp Cariboo – >ÀÃ Ê ÀÜ>À`

GULF ISLAND DEVELOPMENT SITE DENMAN ISLAND

UÊ x{Ê>VÀiÃÊ ÊÈÊÌ Ì ià UÊ-ÕL` Û Ã Ê>««À Û> Êv ÀÊÊxÎÊ>VÀi>}ià UÊ* - Ê" ÊÕ `iÀÊV ÃÌÀÕVÌ UÊ Ài>ÌÊ Vi> ÊÛ iÜÃ]ÊÛ iÞ>À`Ê« Ìi Ì > UÊ i>ÀÊ ÝÊ ÌiÀ >Ì > Ê À« ÀÌÊ UÊ$8,800,000

BABINE NORLAKES STEELHEAD CAMP

UÊ*À v Ì>L iÊÌÕÀ iÞÊÜ À `ÊV >ÃÃÊi ÌiÊ v à }ÊLÕà iÃà UÊÈÓäÊV >Ãà v i`ÊÀ `Ê`>ÞÃÊ UÊ >ÌÊ>VViÃà UÊ } ÊÀ>Ì ÊÀi«i>ÌÊV i Ìi i UÊ > ÊV> «Ê« ÕÃÊ>ÊÃ>Ìi ÌiÊV> « UÊf£]Èää]äääÊÊ

Èä{ ÈÈ{ ÇÈÎäÊUÊ£ nÈÈ xxn Ê­xÓÈή SKEENA RIVER FISHING LODGE TERRACE, BC

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

INVEST IN THE WEST KOOTENAYS

UÊÊ£xnÊ>VÀiÃÊ i>ÀÊ- V> Ê> `Ê>` >Vi ÌÊÌ Ê 6> > >Ê*>À \ÊÊ $305,000 UÊÈ Ê>VÀiÃÊÜÉÊÃiÀÛ ViÃ\Ê- ÛiÀÌ \ÊÊ $368,500 UÊΣ°ÈÊ>VÀiÃÊÜÉÊÃiÀÛ ViÃ\Ê-> \ÊÊ $229,000 UÊÓ{°xÊ>VÀiÊ`iÛÊ«À «iÀÌÞ\Ê i à \ÊÊ $599,000 UÊ£äÊ>VÀiÃ]Êà > ÊV>L \Ê i à \ÊÊ $274,900 UÊä°nÊ>VÀiÊL `}Êà Ìi\Ê*>Ãà Ài\ÊÊ $49,900

2ICH /SBORNE RICH LANDQUEST COM

2ICH /SBORNE RICH LANDQUEST COM

$ENIS $ORE DENIS LANDQUEST COM

$ENIS $ORE DENIS LANDQUEST COM

,ARRY ,AING LARRY LANDQUEST COM

A FOUR SEASON GET AWAY FISH LAKE

120 ACRES - PRIVATE WATERFRONT 70 MILE HOUSE

HOME CREEK RANCH FRANCOIS LAKE 320 ACRE CATTLE & HAY RANCH

DEVELOPMENT PROPERTY IN VALEMOUNT, BC

BLACKWATER RANCH VANDERHOOF, BC

r

f UÊ iÃÃÊÌ > ÊÎäÊ ÕÌiÃÊvÀ Ê i Ü >Ê UÊ£Ê ÕÀÊvÀ Ê*i Ì VÌ UÊ£]ÓÓnÊõÊvÌÊÀÕÃÌ VÊV>L UÊä°ÇnÊ vÊ> Ê>VÀiÊ > ià `iÊ«À «iÀÌÞ UÊ }Ê7 ÌiÊ ÞÊÓäÊ ÕÌiÃÊ>Ü>Þ UÊ8 V Õ ÌÀÞ]Ê }]ÊL }ÊEÊÊ /6ÊÌÀ> à UÊ$160,000

UÊ,ivÕÀL à i`ÊÈäÊvÌÊ L iÊ i UÊ À i`ÊÓ{ä½ÊÜi ÊÉÊÌiÃÌi`Ê UÊ ÃiÊÌ Ê Àii Ê > i UÊ9i>ÀÊÀ Õ `Ê>VViÃÃÊ UÊ À}i ÕÃÊÃÕ iÀÊEÊÜ ÌiÀÊ}iÌÊ>Ü>Þ UÊ£{½ÊÝÊ£{½Ê«À Û>ÌiÊv >Ì }Ê` V Ê UÊ{Ê ÀÃÊvÀ Ê6> V ÕÛiÀÊÊ$249,000

UÊÓ]ÈääÊõÊvÌÊ ÊÌ ÀiiÊL`À Ê i UÊ >À}iÊ ÌV i ÊÉÊÌÜ ÊL>Ì À à UÊÓÊ >ÞÊL>À ÃÊÉÊ"ÕÌÊLÕ ` }à UÊ7>ÌiÀÊÃÞÃÌi Êv ÀÊÃÌ V ÊÞ>À` UÊ iVÌÀ V ÌÞ]Ê« i]ÊÃi«Ì VÊEÊÜi UÊ ` ÀÊ« ÊEÊÃ>Õ > UÊ- ÕÌ Ê vÊ ÕÀ ÃÊ > iÊÊfÎ ]äääÊ

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

UÊ "1,/Ê", , Ê- Ê UÊ ÈnÊ>VÀiÃÊÜÉÊ£]ÎääÊõÊvÌÊ > Ê iÊ UÊÓxäÊ>VÀiÃÊÃÕL ÀÀ }>Ìi`É } Ê«À `ÕV } UÊ-iÛiÀ> Ê ÕÌLÕ ` }Ã]ÊV ÀÀ> ÊÃÞÃÌi Ê UÊ ii`Ê Ì]Êvi Vi`ÊEÊÝ vi Vi` UÊ*>À iÊÜÉÊÞi>ÀÊÀ Õ `ÊVÀii Ê UÊ7 ½ÌÊ >ÃÌÊ }ttÊÊ$549,000

,ARRY ,AING LARRY LANDQUEST COM

#LIFFORD 3TONE CLIFFORD LANDQUEST COM

#LIFFORD 3TONE CLIFFORD LANDQUEST COM

3AM (ODSON SAM LANDQUEST COM

3AM (ODSON SAM LANDQUEST COM

CLAM BAY OCEANFRONT FARM PENDER ISLAND, BC

POPEYE’S LOCKERS & STORAGE SECHELT, BC

THE POINT DENMAN ISLAND

THE NEW 108 RESORT CARIBOO REGION OF BC

SUCCESSFUL PARTY & EVENTS RENTAL BUSINESS PRINCE GEORGE, BC

UÊ£äÓÊ>VÀiÃÊÜ Ì Ê¤Ê iÊ Vi> vÀ Ì UÊ,ià ÀÌÊÀiÌÀi>ÌÊEÊÜ À }Êv>À UÊ£äÊ>VÀiÊ6 iÞ>À`ÊEÊÎäÊ>VÀiÃÊ«>ÃÌÕÀi UÊ >À}iÊL>À ]ÊÇÊ}ÕiÃÌÊV ÌÌ>}iÃ]Ê iÀ Ì>}iÊ i UÊ > ÊLi>V ÊEÊÓääÊvÌÊ«À Û>ÌiÊ` V UÊ" ViÊ Ê>Ê viÌ iÊ «« ÀÌÕ ÌÞt UÊf4,995,000

UÊ ià } iÀÊÛ iÞ>À`ÉÜ iÀÞÊ>VÀi>}iÊ­£{ÎÊ>V®Ê UÊxÊ Ê >À}iÊÜ>ÌiÀvÀ ÌÊ>VÀi>}iÃÊ­xÊÌ Ê£xÊ>V®Ê UÊ6iÀÞÊ«À Û>ÌiÊ UÊ-Õ Þ]ÊÜ>À Ê V>Ì Ê UÊ1 `iÀ}À Õ `Ê« ÜiÀÊ UÊ-ÌÕ }ÊÛ iÜÃ]Ê Vi ÞÊÌÀii`Ê UÊ À ÊfÎÇx]äääÊÊ

UÊÊx{nÊ>VÀiÃÊ Ê£nÊ iÊ} v]ÊÌi Ã]Ê ÀÃiÃ]Ê > i]Ê ÕÌ` ÀÃ]ÊiÌV° UÊ{ÓÊÜi >«« Ìi`Ê}ÕiÃÌÊÀ ÃÊ UÊ }Êv ÀÊ ÛiÃÌ ÀÊÉÊ*>ÀÌ iÀÃÊ UÊ Ài>ÌÊ`iÛi « i ÌÊ «« ÀÌÕ Ì ià UÊ/ «Ê ÛiÃÌ i ÌÊv ÀÊ>Ê ÜÊ*À Vi UÊf{]{ ] ää

UÊ*iÀviVÌÊv ÀÊ>Ê >À}iÊv> Þ UÊ Õ ÞÊiÃÌ>L Ã i`Ê iÞÊ > iÀ UÊ*>ÀÌÞÊÉÊiÛi ÌÊÀi Ì> ÊLÕÃ iÃÃ UÊ Õ}iÊiµÕ « i ÌÊ ÃÌ]Ê} }ÊV ViÀ UÊ- `ÊÀi«i>ÌÊVÕÃÌ iÀÃ UÊ*À ViÊÜi ÊLi ÜÊiµÕ « i ÌÊÛ> Õi UÊ$295,000

$AVE #OCHLAN DAVE LANDQUEST COM

$AVE #OCHLAN DAVE LANDQUEST COM

+URT .IELSEN KURT LANDQUEST COM

+ONRAD - 3CHMID -EIL KONRAD LANDQUEST COM

"RIAN (ARRIS BRIAN LANDQUEST COM

GRAVEL PIT ON CNR LINE EAST OF PRINCE GEORGE

EXCELLENT FAMILY FARM + $45,000 CROP YIELD PRESPATOU, BC

SOUTHERN GULF ISLAND RETREAT - GOSSIP ISLAND, BC

LOVELY FAMILY OR EXECUTIVE HOME - NEAR 100 MILE HOUSE

BRIDGE LAKE WATERFRONT CARIBOO

3%,,

4/

2%

UÊ*À v Ì>L iÊÃi vÊÃÌ À>}iÊLÕà iÃÃÊ UÊ/ÕÀ iÞÊÜÉÊ} `ÊÌÀ>vv VÊiÝ« ÃÕÀiÊ UÊ£{ ÊÃÌ À>}iÊÕ ÌÃÊvÀ ÊnÝnÊÌ ÊnÝ{ä UÊ Õ `ÊLiÊiÝ«> `i`ÊÌ Ê{xäÊÕ Ìà UÊ >À}iÊà «]Ê vv ViÊEÊÀià `i Vi UÊ"«i ÊÃÌ À>}iÊv ÀÊ,6½Ã]ÊL >ÌÃÊiÌV° UÊ$875,000

%$ $5#

UÊÊ VÌ ÛiÊ}À>Ûi Ê« ÌÊÜÉÊ ,ÊV ÌÀ>VÌÃÊ Ê« >Vi UÊ ,ÊëÕÀÊ iÊÀ } ÌÊ Ì Ê}À>Ûi Ê« Ì UÊÊÓÎÓÊ>VÀiÃÊ Ê> ÃÌÊ> ÊÕÃ>L i]Ê« Ãà L iÊ ÃÕL` Û Ã UÊÓ ³Ê À>ÃiÀÊ, ÛiÀÊvÀ Ì>}iÊ ÊÈä¯Ê ÜÊL> Ê UÊÊ- iÊ vÊÌ iÊ >À`iÃÌÊEÊLiÃÌÊ}À>Ûi Ê LiÌÜii Ê ` Ì ÊEÊ*À ViÊ,Õ«iÀÌ UÊ, 1 Ê/"Ê- ÊfÈxä]äää "RIAN (ARRIS BRIAN LANDQUEST COM

UÊÓ]nääÊõÊvÌÊ iÉÊ{ÊL`À UÊÈÊ«iÀÃ Ê ÌÊÌÕL UÊÎÓäÊ>VÀiÃÊ iÛi Êv>À > `Ê UÊx]äääÊõÊvÌÊà «Ê i>Ìi` UÊ{]xääÊLÕà i Ê}À> >ÀÞÊ UÊ Õi ÊÃÌ À>}iÊ>Ài> UÊ$495,000 #AMERON 3TONE CAMERON LANDQUEST COM

UÊÎääÊvÌÊ vÊ«À Û>ÌiÊ Vi> vÀ Ì UÊÓ]ÓääÊõÊvÌÊ iÊÉÊÎL`À ÊÓÊL>Ì UÊ iÌ>V i`ÊÜ À à « UÊ Õ ÞÊÃiÀÛ Vi` UÊ*À Û>ÌiÊ9>À`ÊÉÊ > `ÃV>«i` UÊ$849,000 #AMERON 3TONE CAMERON LANDQUEST COM

TROPHY LAKEFRONT ESTATE CARIBOO - SHERIDAN LAKE, BC

1939 HERITAGE BOUTIQUE HOTEL SQUIRREL COVE TRADING CO. CORTES ISLE - DESOLATION SOUND POWELL RIVER, BC

UÊÊÈÊLi>ÕÌ vÕ Ê«À Û>ÌiÊ>VÀiÃÊ Ê ÛiÀÊnää½Ê«À iÊ Ã ÕÌ Êv>V }Ê ÜL> ÊÜ>ÌiÀvÀ Ì UÊÓÊÞÀÊ `ÊVi`>ÀÊ }Ê i UÊ ÕiÃÌÊ ÕÃi]Ê Õ}iÊ}>À>}iÉÊà « UÊ ÌÊÌÕL]ÊÃ>Õ > UÊ >ÌÊ >Õ V ÊEÊ` V UÊ1,695,000

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

#ARSON $ORWARD CARSON LANDQUEST COM

*ASON :ROBACK *AMIE :ROBACK

UÊ-µÕ ÀÀi Ê ÛiÊ i iÀ> Ê-Ì ÀiÊEÊ/ iÊ ÛiÊ ,iÃÌ>ÕÀ> Ì UÊÓ°xÊ>VÀiÊV iÀV > ÞÊâ i`Ê Vi> vÀ ÌÊ UÊÊ V Õ`iÃÊ}À ViÀ iÃÊEÊ >À`Ü>Ài]Ê µÕ ÀÊ Ã> iÃ]Ê« ÃÌÊ vv Vi]ÊvÕi ÊÃ> iÃ]Ê ÊL`À Ê >VV `>Ì ]Êv Àià ÀiÊ Vi ÃiÊEÊ ÕV Ê ÀiÊÊ$1,350,000 *ASON :ROBACK *AMIE :ROBACK

UÊ >À}iÊ ÌV i ÊEÊv> ÞÊÀ Ê UÊ i>Ìi`Êv À }Ê Ê ÌV i UÊ À> `Ê`iV ÊÜ Ì Ê ÌÊÌÕLÊ UÊÓÊi ÌÀ> ViÃÊvÀ Ê`iV ÊÌ Ê ÌV i ÊEÊ ÃÌÀÊL`À UÊ >À}iÊLà ÌÊÜ Ì ÊiÝÌÀ>ÊL`À ÊEÊL>Ì À UÊ ÕL iÊV>ÀÊ}>À>}iÊ Ê>ÕÌ Ê` ÀÊ «i iÀ UÊf{£ ] ääÊÊÊÊÊÊ

UÊ Ài>ÌÊÀiVÀi>Ì ÊÜ>ÌiÀvÀ ÌÊ«À «iÀÌÞ UÊ > Ì>ÃÌ VÊv à }Ê> `ÊL >Ì }Ê > i UÊ-Õ«iÀLÊÜiÃÌiÀ ÞÊÛ iÜà UÊ+Õ iÌÊ V>Ì Ê UÊ >ÃÞÊ>VViÃÃÊÞi>ÀÊÀ Õ `Ê UÊ-Ü Ê vvÊÞ ÕÀÊ` V Ê UÊ$340,000

(EATHER AND -IKE $ILLON HEATHERANDMIKE LANDQUEST COM

(EATHER AND -IKE $ILLON HEATHERANDMIKE LANDQUEST COM

60 TITLES ON SMALL FARM EAST KOOTENAYS FORT STEELE, BC

YOUR OWN PRIVATE HOT SPRING HALCYON POINT ESTATES, BC

UÊf£Î]ÎääÊÉÊ Ì°Ê£Ó°È£Ê>VÀiÊ«À «iÀÌÞ UÊÊ" `iÀÊ ÕÃiÊà ÌÃÊ>` >Vi ÌÊÌ Ê Ìi >ÞÊ , ÛiÀÊÜÉÊà > Ê« iViÊ vÊ À Ü Ê > `ÊÊ LiÌÜii Ê ÌÊ> `ÊÌ iÊÀ ÛiÀÊ UÊ Ài>ÌÊ>VViÃÃÊv ÀÊÀiVÀi>Ì UÊfÇ n]äää -ATT #AMERON MATT LANDQUEST COM

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

B14 Recreational Real Estate HOT PROPERTIES/Alberta '"/5"45*$ 0110356/*5*&4

115+ Site

0110356/*5: */ $&/53"- "# -PEHF PO BDSFT GPS TBMF JO UIF QSPDFTT PG CFJOH B TFOJPSÂľT MPEHF GPS QFPQMF %P UIF NBUI "4,*/( "-#&35" "$3&"(&4 Â… -"/% Y BDSFT POMZ POF IPVS 8&45 PG &%.0/50/ Â… -"/% Y BDSFT POMZ POF IPVS 8&45 PG &%.0/50/ %POÂľU IFTJUBUF UP $0.1"3& UIFTF QSJDFT TP ZPV LOPX ZPV SF HFUUJOH B %&"- 4UJMM UPP NVDI ŠNBLF VT BO PGGFS

www.westerninvestor.com JULY 2011WESTERN INVESTOR

/&8 -0()064&

0O BDSFT #FBVUJGVM BSFB XJMEMJGF OBUVSF XBMLTŠ &/+0: -*'& 8BML PVU CBTFNFOU ž OJTIFE 5IJT IPNF IBT B XSBQ BSPVOE EFDL UP FOKPZ JU BMM 0OF IPVS 8&45 PG &%.0/50/ 1SJDF PS NBLF VT BO PGGFS

Call Ted at 1-780-727-2042 Email: tedria@telus.net

Beautiful Manitoba Resort Property!

MOBILE HOME PARK IN BOOMING COMMUNITY OF EAST/CENTRAL ALBERTA

115 sites @$465 mth. + 21 R.V. sites, renting @$650 mth., showing in excess of 8.5% net return. All city services. Excellent asphalted roads, light standards, underground wiring. Mt. Sentinel Realty Ltd. W. TymoďŹ evich (Water T.)

250-487-1585

mt.sentinel@shaw.ca

westerninvestor.com lake property

auction

100,000 G OPENIN BID $

LAKEFRONT PROPERTY PEARSALL PLACE - RESORT VILLAGE OF COCHIN, SK Manigaming Resort, Clear Lake, Manitoba Fantastic opportunity to own a popular and successful resort only 88 steps to main beach. 25 rental units including 15 pool side suites and 10 chalets. Lovely 2 bedroom living quarters allow you to have your own cabin at the lake. Meticulously maintained grounds and buildings. This is a favourite Clear Lake resort. Mike Kufflick 204-721-1347

Oak Island Resort Oak Lake, Manitoba Year round cottage currently under construction. Open concept design. Special golf privileges, restaurant and marina close by.

Park Vista Chalets, Clear Lake, Manitoba Perfect location bordering RMNP at the south entrance and walking distance to Clear Lake. Two relatively new, luxurious, fully finished cottages. Also included is an upgraded building for use as an office, smaller cottage, or other such use. Heated laundry room/ pump house please heated storage room/tool shed. Mike Kufflick 204-721-1347

Lloyd Carruthers 204-851-0525

HomeLife Home m Professional ofessional Realty Inc. h St, Brandon, MB 108-18th 1

FRIDAY AUGUST 5, 2011

3.08 acres pristine waterfront property overlooking Murray Lake including 400+ feet of water frontage and 200+ ft of highway frontage. Call for a Free Bidder Package. TERMS & CONDITIONS: A non-refundable deposit of 10% of the purchase price will be required sale day. Balance must be paid in full within 30 days. Final bid will be subject to seller’s approval.

OPEN HOUSES: Sat July 16, 11:00 am - 12:00 noon Sat July 30, 11:00 am - 12:00 noon

204-726-5340 26 www.homelifepro.com life www.homelife.ca elife

xxx/kbofipggnbo/dpn

TBOEZ!CFBDI!'!CPBU!EPDL

GBCVMPVT!MBLFTIPSF!BDSFBHF

Mpdbufe!jo!uif!ifbsu!pg!uif!Mpxfs!Njttjpo!pggfsjoh!jefbm! qspyjnjuz!up!bmm!bnfojujft/!B!tqfdubdvmbs!411!gu!pg!qsjwbdz! boe!61!gffu!pg!xbufsgspou/!Fokpz!uif!qfbdfgvm!usborvjmjuz! gspn!!zpvs!tboez!cfbdi-!cpbu!epdl!boe!rvbjou!dpuubhf!ipnf/! Uif!qfsgfdu!tqpu!up!tqfoe!zpvs!tvnnfs!ps!cvjme!zpvs!esfbn! mblftjef!ftubuf/!Nbuvsf!mboetdbqjoh!boe!fwfshsffo!usfft!mjof! uif!qspqfsuz!po!cpui!tjeft/!Qvsf!qsjwbdz" %3-211-111!NMTÂŽ 211357::

Sbsf!pqqpsuvojuz!po!Plbobhbo!Mblf/!Zpv!xjmm!MPWF! uif!fydfqujpobm!tfuujoh!gspn!uijt!4/6!bdsf!tfuujoh!pggfsjoh! fbtz!bddftt!up!uif!451,!gu!pg!cfbdigspou/!Tqfdubdvmbs!wjfxt! pg!gspn!Qfoujdupo!up!Lfmpxob!boe!pomz!njovuft!esjwf!up! epxoupxo!Qfbdimboe/!Hsfbu!cvjmejoh!pqqpsuvojuz!gps! zpvs!esfbn!ftubuf!ipnf!ps!wbdbujpo!hfu.bxbz/! Pmefs!ipnf!dvssfoumz!mpdbufe!po!mfwfm!tjuf/ %3-9:6-111!NMTÂŽ 21139128

Phone 1.306.445.5000 or 1.800.529.9958

LFMPXOB-!C/D/

HBUFE!MBLFTJEF!MJWJOH Tpvui!Cbz!Mboejoh!mblftjef!dpnnvojuz!pggfsjoh!4:11! trgu!dvtupn!ipnf!cvjmu!cz!Szlpo!jo!3116/!Usjqmf!uboevn! hbsbhf-!!mvyvsz!eÂ?dps-!tqbdjpvt!sppnt!boe!qsjwbuf!zbse/! Cpbu!epdl!xjui!nppsbhf-!dmvcipvtf!xjui!hzn-!pvuepps!qppm! '!ipu!uvc/!Tboez!cfbdi/!Mpxfs!Njttjpo!hbufe!dpnnvojuz/! %3-4:9-111!NMTÂŽ 2112:4:1

QSJWBUF!BOE!TFSFOF!MBLFTJEF!IPNF Xifo!qbsljoh!boe!hbsbhf!tqbdf!jt!jnqpsubou!boe!zpv!bsf! mppljoh!gps!uif!jefbm!mblftjef!mjgftuzmfĂŠ/!Uijt!jt!uif!ftubuf! qspqfsuz!gps!zpv/!Dpwfsfe!qbsljoh!gps!7!wfijdmft!qmvt!fyusb! sppn!gps!npsf"!Dvtupn!cvjmu!boe!tuzmjtimz!sfopwbufe!6411! trgu!ipnf!pggfst!6!cfesppnt!boe!94!gffu!pg!mblf!gspoubhf/! 2!bdsf!tjuf!oftumfe!xjui!uif!usfft!jo!uif!Vqqfs!Njttjpo/! Fydmvtjwf!hbufe!fousz/! %3-:9:-111!NMTŠ!21132239

MBLFTJEF!NBTUFSQJFDF

MBLFTJEF!BDSFBHF

B!Gvtjpo!pg!Uvtdbo!Nfejufssbofbo!tuzmjoh!dbopqjfe!voefs! nbuvsf!mboetdbqjoh!boe!pggfsjoh!qbopsbnjd!mblftjef! wjfxt/!Mpdbufe!bnpohtu!wjofzbset!boe!xjofsjft!jo!Mblfwjfx! Ifjhiut-!uijt!ipnf!pggfst!pwfs!6611!trgu!pg!mjwjoh!tqbdf-! 6!cfesppnt!boe!pwfs!2!bdsf!pg!qsjwbdz/!2:9!gffu!pg!cfbdi! xjui!xibsg-!cpbu!mjgu!boe!effq!xbufs/! %6-5:1-111!NMTŠ!21123166

32!mblftjef!bdsft!tipxdbtjoh!3!dvtupn!exfmmjoht!nbtufsgvmmz!! joufhsbufe!joup!uif!sbx!obuvsbm!tmbuf!mboetdbqf/!Nbjo!ipnf! pqfot!uisv!hmbtt!qbofmt!dpoofdujoh!uif!jotjef!xjui!uif! fyqbotjwf!xbufsgspou/!Tfdpoebsz!ipnf!cpbtut!22:5!gffu!pg! wjfxjoh!efdlt!boe!qbopsbnjd!wjfxt/!Usvmz!b!pof!pg!b!ljoe! pggfsjoh/!Qsjwbuf!epdl!boe!hbufe!fousz/! %21-111-111!NMTŠ!21125317

PgĂ&#x;!df;!361.971.8611!0!999.646.7:73!!!!!!!!!Fnbjm;!kbofAkbofipggnbo/dpn!!!!!!!!!$25.2581!Ibswfz!Bwf/!Lfmpxob!CD!W2Z:L9 Lfmpxob(t!Sfbm!Ftubuf!Tqfdjbmjtu!tjodf!2:96

Alberta B15

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

.05&- $0..&3$*"- -05

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

(3&"5 */7&45.&/5 0110356/*5: 1JODIFS $SFFL "# $PNQMFUFMZ SFOPWBUFE DMFBO XFMM NBOBHFE NPUFM XJUI VOJUT < XJUI LJUDIFOFUUFT> BOE B CFESPPN PXOFST TVJUF -PDBUFE PO IJHIMZ WJTJCMF MPU PO UIF XBZ UP 8BUFSUPO /BUJPOBM QBSLT "EKBDFOU "DSF MPU JT BMTP BWBJMBCMF 4FMMFS XJMM TFMM BT B QBDLBHF

ATTENTION INVESTORS 1 bedroom renovated condo's, downtown Calgary on 17th Ave SW. approx., 640 sq ft, rented from $850-$925 Seller Will Finance @ 3.75% for 2 yrs open with 25% down "No Qualifying" only 9 units left! Prices from $149,900 and up Condo fee's run from $237-303/mo. Taxes approx., $100 per month. Appointments required!

t

Single and multi-family residential developments

t

Commercial, industrial and retail developments

t

Refinancing / acquisitions

t

Construction / land servicing

ALBERTA IS AGAIN MOVING!

t

Bridge loans

MOTELS & HOTELS

t

Income producing properties

Dennis Myers

Call 403-627-7493 • villager@shaw.ca THE VILLAGER REAL ESTATE CO. 403-627-1919

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

≼PROVOST Brand new 44 unit motel. Asking

$4.5M. (These motels can be bought as a unit or separately CAMROSE 40 unit motel showing Good revenue. Asking $2.9M. SOLD! CAMROSE 20 unit motel, (nice Ma & Pa operation) upgraded and very clean, Asking $1.2M. HARDISTY New 44 unit Motel. NAMPA, ALBERTAin busy boom town, 16 unit motel, 100 seat lounge, VLTs, liquor store and restaurant. PRICE REDUCED TO $990,000!

≼ ≼ ≼ ≼

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

For further info contact: Lorne Ryz 403-862-6465 c • 403-775-4343 f 1-888-229-0007 Toll Free Email: icdl@telus.net

≼ CAMROSE ALBERTA68 room, full services Hotel. REDUCED - NOW $4.5M. ≼ FULL SERVICES63 Unit Motel with Restaurant,

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

OTHER INVESTMENTS

≼DAYSLAND Convenience store and Gas Bar., ≼

Mechanical shop, all located on a 1.5 acre parcel with residence. Shows good revenue. Asking $375,000. ROUND HILL ALBERTAFully renovated and exceptionally clean hotel with tavern, 8 rooms, pool table, Lg TV screen, kitchen facilities. Great Ma and Pa operation. Asking $550,000.

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

CURRENT OFFERINGS

• A Flagged 102 Room Full Service Hotel well located in a prime commercial area of a dynamic city, the stellar performance of its operation is attested to by its continuous outstanding growth in revenues, plus substantial up-side potential. Asking $12,900,000. • A Flagged 95 Room Limited Service Hotel consisting of a variety of suites, well located with highway exposure and surrounded by a substantial number of conveniences, continued superb revenue performances that yield substantial N.O.I. that ultimately result in excellent return on equity and investment. Asking $13,900,000. • A Flagged 96 Room Hotel featuring an excellent room/suite mix, plus some unique outstanding features that will undoubtedly Enhance its performance going forward, very good ďŹ nancing is in place, the location is great, the up-side potential is very good. Asking $15,500,000. • A Flagged Full Service Hotel, well located with highway exposure in a very diverse economic area, attested to by its continuously strong revenue performances; further, it currently has exceptionally good mortgage ďŹ nancing that may be assumed. The up-side potential of an investment is this Hotel is very good. Asking $29,000,000. • 4.6 Acres of Vacant Prime Commercial Land available for immediate Development in a most sought after location with main artery exposure and very high daily vehicle trafďŹ c count, priced for immediate sale at an asking price of $3,910,000. • Located in a very popular Ski Resort ANew Deluxe 2 - Bedroom Condo consisting of 2 bathrooms, ďŹ replace, cable among the many other superb Features, plus the many amenities such as swimming pool, sauna, ďŹ tness center, indoor parking to name a few within the Building Complex. Immediate possession available, a great buy with cash to an existing mortgage of $330,900 more or less, at the Asking Price of $499,000.

VISIT OUR WEBSITE AT: www.calgaryland.net

• A Superb 103 Room Limited Service Hotel, featuring a number of unique features, no differed maintenance, plus excellent curb appeal and exposure, well located in a region of tremendous economic diversity that should provide a signiďŹ cant degree of operational upside going forward. Asking $13,200,000.

$"-("3: "3&" %&7&-01.&/5 -"/%4 ROCKY VIEW 160 Acres on County Hills Boulevard $5.6 Million EAST CALGARY - 17TH AVE SE 160 Acres near Stoney Trail $23.2 Million G Y - 84 St. NE EAST CALGARY 160 Acres near Stoney Trai Trail $3 $32 Million

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

Commercial, Industrial & Residential Financing

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

101ST STREET ORCHID NURSERY Calgary, AB

EAST CALGARY - 17 Ave SE 13.52 Acres Stoney Trail Frontage $6.76 Million

• 14.2 acres of prime dev., land • Located within city limits (on west side) • Land use DC 11Z96 • Existing beautiful acreage home • Great dev., or holding asset • Price: $6,300,000

EAST CALGARY - 17 Ave SE 98 Acres near Stoney Trail $15.6 Million

SPRINGBANK LANDS

CHESTERMERE - SIERRA VISTA Single & Multi Family, Retail, Golf Course, Area Structure Plan. 5-7 Units Per Acre 53 Acres - $6.9 Million 88 Acres - $11.5 Million 140 Acres - $18.2 Million 160 Acres - $20.7 Million

KEVIN MOORE (403) 617-2846

Rocky View County Obtaining Mortgages and Loans can be made Easy & Simple!

Contact: Frank Hickey

• 153 acres zoned RF; • 6 acres zoned R2 • North of proposed Bingham Crossing • Price: $5,000,000 (judicial)

Contact Karen at

403.589.5599 karen@barrycommercial.com

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

XXX DBMHBSZMBOE OFU

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

www.barrycommercial.com Commercial Propertyshop Inc. Brokerage

B16 Alberta

www.westerninvestor.com JULY 2011WESTERN INVESTOR

CAPITALIZE

ON EXPERIENCE BARCLAY STREET REAL ESTATE

FOR SALE

INVESTMENT OPPORTUNITIES FROM

FOR SALE

RESTAURANT PROPERTY

OFFICE BUILDING

6107 104 STREET

DEERFOOT COURT

Edmonton, Alberta

n !VENUE .% #ALGARY !LBERTA

s &ULLY RENOVATED IN

s $EERFOOT #OURT CONSISTS OF TWO buildings of approx. 37,000 SQ ft. each for a total gross rentable AREA OF APPROX SQ FT OVER three stories of structure. s 3ITE SIZE n ACRES FEET frontage on 29th Avenue NE s SURFACE ENERGIZED PARKING STALLS

TH

s -AIN FLOOR TOTAL SQ FT /WNER OPERATED LIQUOR STORE APPROX SQ FT 3ECOND FLOOR APPROX SQ FT s 3ITE SIZE n ACRES s ON SITE PARKING STALLS For more information or to view, please contact:

For more information or to view, please contact:

DOUG GRINDE

JEFF ROBSON

dgrinde@barclaystreet.com

jrobson@barclaystreet.com

p: 780-463-3332 c:403-815-0283

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

RICHARD LEWIS RYAN SWELIN

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

rlewis@barclaystreet.com rswelin@barclaystreet.com

ASPEN LANDING SHOPPING CENTRE 17 Avenue SW

FOR SALE

DOWNTOWN RETAIL/OFFICE BUILDING 85 Street SW

ITHACAN BUILDING n TH !VENUE 37 #ALGARY !LBERTA

s 4HE 0ROPERTY IS CURRENTLY LEASED TO TENANTS s 4HE BUILDING CONTAINS A TOTAL NET RENTABLE AREA OF SQ FT WITH RETAIL TENANTS ON THE MAIN FLOOR AND AN OFFICE tenant on the second floor. s 3ITE SIZE n ACRES FEET FRONTAGE ON TH !VENUE 37 s REAR SURFACE PARKING STALLS s %ACH SUITE HAS THEIR OWN IN SUITE MEN S AND WOMEN S washrooms.

FOR SALE 23.96 ACRES

TH !VENUE AND TH 3TREET 37 #ALGARY !LBERTA

4HE 0ROPERTY HAS BEEN CONTEMPLATED TO BE A FUTURE RESIDENTIAL DEVELOPMENT SITE )T CURRENTLY FALLS WITHIN THE %AST 3PRINGBANK #OMMUNITY 0LAN !DJACENT LAND IS ALSO POTENTIALLY AVAILABLE

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

rlewis@barclaystreet.com rswelin@barclaystreet.com

COMMERCIAL REAL ESTATE

SOLUTIONS

DEVELOPMENT LAND

For more information or to view, please contact:

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

DOUG GRINDE dgrinde@barclaystreet.com

Office, Retail, Industrial

Land, Investment

SALES AND LEASING

SALES

p: 780-463-3332 c: 403-815-0283

Property Management

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

WWW.BARCLAYSTREET.COM

B17

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

FEATURE Oilpatch resurgence driving industrial, retail and residential demand in Alberta’s heartland

3FE %FFS SFCPVOET DAVE HUSDAL WESTERN INVESTOR

city had issued permits for $55.4 million in new building activity in 2011. That was up roughly a third over the 2010 pace. The new activity includes not only the housing sector, but commercial activity as well.

3FUBJM

resurgent oil and gas sector is pushing demand for industrial space in central Alberta’s heartland and spurring commercial and mixed-use residential development.

While 2010 was a slower year in Red Deer, Alberta’s traditional oil and gas service capital is clearly surging forward in 2011. Some even caution that a sudden rush of commercial development could drive some lease rates lower. Brett Salomons sees the signs of recovery quite clearly. “The industrial market is probably the strongest right now,” explained Salomons, an associate with Ralph Salomons Commercial Inc., one of Red Deer’s leading commercial leasing agents. The 2011 surge started with the larger oilpatch companies in the city landing more work and pushing for additional shop space. Since then, the demand from smaller companies has also picked up. Single-tenant properties with adequate yard space are most in demand, says Salomons, but as they fill up at $13 to $14 per square foot annual lease rates, the demand for the inventory of multi-tenant industrial buildings is following suit. That’s particularly true of more modern shop space. “There was quite a bit of inventory on the market, but the newer stuff is more or less disappearing,” said Salomons. Older properties built in the 1970s and 1980s are more commonly vacant than newer shops, he added.

Photos: City of Red Deer

"

(TOP) As of the end of May, Red Deer had posted $55.4 million in building permits, up about 30 per cent from the same period in 2010. (RIGHT) Artist rendering of $4.7 million redevelopment plans for little Gaetz Avenue downtown.

bottomed out, realtors suggest, and while they may not surge forward significantly in 2011, there’s now demand from spec builders willing to build industrial shops. The city itself is expanding industrial development via a new industrial park, Queens Business Park, that it is developing west of Highway 2 and south of Highway 11A in the northwest sector of the city. It plans to spend about $8.3 million on roadwork in the area this year. The development will cover close to *OEVTUSJBM 300 acres and include mostly industrial uses, Industrial land prices – $120,000 to $160,000 but some commercial uses as well. per acre for partly serviced, $265,000 to Construction work has also started this $285,000 per acre for fully serviced – have year on what’s known as the North Highway

Connector Project. It will provide a bypass around the city’s northeast beyond the slower-speed 67th Street/30th Avenue corridor, and include a new bridge over the Red Deer River in the city’s northeast corner. The connector will ensure a smooth flow of traffic around the existing developed areas of the city from Highway 11 in the east to Highway 2. Its completion is several years away. The City of Red Deer’s building permit stats back up Salomons. While 2011 isn’t likely to resemble the boom years of 2006 or 2007, it’s running ahead of 2010 at this point. As of the end of May, the

While commercial growth has been centred on Red Deer’s south end in recent years – stretching into Red Deer County along Highway 2’s Gasoline Alley – 2011 will see retail expansion in the northeast sector of the city along 30th Avenue/67th Street with Clearview Market Square. The shopping centre is a Melcor Developments Ltd. project that should eventually see 263,000 square feet of new commercial space on a 22-acre site. Construction has already started on the project. In the deep south – but still within city limits – Qualico Developments is poised to start construction on what is known as Southpointe Junction at Taylor Drive and 22nd Street. It will boast 350,000 square feet of retail development immediately west of Qualico’s existing Southpointe Common project. Southpointe Junction also envisions residential space. Mixed-use projects are likely to become more prominent in Red Deer, especially as downtown redevelopment continues. Changes in the city’s core will continue this summer with significant reworking of three blocks of 50th Avenue (known as little Gaetz Avenue) in the heart of Red Deer. The city is spending about $4.7 million to enhance the streetscape of Little Gaetz, making the one-way southbound street more attractive for pedestrians and businesses, explains Charity Dyke, Red Deer’s downtown co-ordinator. The changes reflect the Greater Downtown Action Plan and the desire of residents to see a more active core, both residentially and commercially, explains Dyke. The work will be followed in 2013 with reworking of another three

Please see Outlook, page B18

"MCFSUB

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

fort mcmurray edmonton

36 red deer

calgary

• Centre of Oil/Gas activity in East Central Alberta • Tax Incentive Policy for new commercial/ industrial development • Excellent selection of housing options • A great family-oriented community • Prime Commercial and Industrial lots at attractive prices Contact us today to find out how we can assist in locating your business in the Town of Coronation

north bound

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

Town of Coronation – A Royal Town www.town.coronation.ab.ca

B18 Alberta THE CITY

www.westerninvestor.com JULY 2011WESTERN INVESTOR

OF

CAMROSE T R C HE

EGIONAL

065-00, from B17 blocks of Little Gaetz at an estimated price of $4.3 million.

ENTRE OF

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

VALERIE KING

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

EDMONTON ON THE RISE

LAND FOR SALE •NEW LISTING 153 acres plus 18,400 sq. ft. building. Nisku Industrial Park .....$13 Million •NEW LISTING 1.15 acres CNC Development Site. 167 Ave & 71 St ..............$1.25 Million •INNISFAIL 106 acres HWy Industrial, 3/4 mile frontage to QEII .....REDUCED TO $32K/ACRE •6.6 ACRES UPGRADER ALLEY Hwy. 37 & 34 St .........................$110K/Acre •1.88 ACRES Summerside EIB Site ..............................................$22.50/sq. ft.

PENDING BUILDINGS FOR SALE & LEASE •NEW LISTING! 7900 sq ft warehouse. Central Edmonton. Stadium Road.............$8.00/ sq. ft. •SHOPPES OF BLACKBURNE 111 St & Blackburne Drive. New strip 470 to 1500 sq. ft. bays ..................... $32.00/ sq. ft.

3JWFSMBOET

To the west of Gaetz, planning work continues for redevelopment of what’s known as the Riverlands area, a place formerly occupied by the city’s public works yard and a wide range of warehouse uses. City council is expected to approve a longawaited area redevelopment plan for Riverlands this summer, and the document envisions higher density mixed-use parcels on the southeast bank of the Red Deer River. The city itself is a major landholder in the area with about one-third of the deeded land, but has made it clear that it wants significant private development on the core’s west side to go with new public spaces aimed at growing the arts. “We do know that to achieve the vision we’re looking for in Riverlands we are going to have to look at private development in that area, and that will be our focus looking forward,� said Dyke. For the most part, the planning process will have to move along a little more before new projects move ahead. Still, some developers have trotted out plans for projects close to the river’s edge. One such company is River City Development, which wants to move ahead with a mixed-use development featuring 37,000 square feet of com-

BANK OWNED

Excellent Investment Opportunity

•NEW LISTING! 18,400 sq. ft. OfďŹ ce / Shop. Nisku Industrial Park ............................$13.50/sq. ft. •STYLEMASTER- 14,000 SQ FT BUILDING ON 0.56 ACRE RA9 SITE ......................... $1.875 Million

SOLD

•ENCORE CENTRE - 137 Ave & 66 Street. 1553 sq. ft. Finished Retail............... $28/sq. ft. •2400 SQ FT WAREHOUSE BAY 7805 Argyll Road .......................... $6.95/sq. ft.

Call Bob Gaetz Owner/Broker Ph: 780-448-2020 F: 780-448-1998

• 4 retail condo bays at 512 Bow Valley Trail • High trafďŹ c location • Perfect for retail • 5629 sq. ft. combined space Investment Opportunity • Only $128/sq. ft. REDUCED OVER 40% • These units will not last!

BANKED OWNED

Excellent

FORECLOSURE

BUY

Your hunt for the right investment could be right in the pages of the Western Investor. Every month you’ll find $2 Billion worth of opportunities.

Adnerys Armstrong

403-999-5626

rggaetz@telus.net www.gaetzrealty.com

OPPORTUNITY IS KNOCKING IN RED DEER!

mercial on the bottom two floors; higher-end 2VJDL GBDUT residential condos above that would sell for between $440,000 and $660,000. The project at Gaetz Avenue and 55th Street Edmonton would occupy a former creamery site, reflectALBERTA Leone ing the greater downtown plan to replace traBlackfalds ditional warehouse and industrial space with 11 âœŞ RED DEER residential and commercial uses, a concept Sylvan Lake supported by Red Deer residents. Olds The Riverlands area plan calls for a strong 2 connection between the river and downtown, Calgary BRITISH higher densities, unique public spaces includCOLUMBIA ing a public market and a hotel and convention centre, among other features. It’s expected to U.S.A. be formally adopted by city council this summer. 3FE %FFS "MUB The increase in developments will likely affect existing lease rates, Salomons said. Population 90,084 “I think with Qualico and Melcor bringing Annual growth rate 2.14 per cent on all this retail space it’s going to put some 2011 building permits $55.38 million downward [vacancy rate] pressure on the exist- (January to May; up 37 per cent from same ing space,â€? he predicted. period last year) That’s a factor to be aware of in a centre Serviced industrial land $265,000 to where new space is leasing in the $22 to $25 $285,000 per acre per square foot range. Median house price $292,000 Not all commercial sectors are expanding right now in Red Deer, however, with the office earlier. The national housing agency also calmarket considered somewhat oversupplied. culated that the average rent for apartments of all sizes in the city is $770, down slightly from )PVTJOH a year ago. Meanwhile, residential landlords are seeing The median sale price of a Red Deer house a tighter market. Canada Mortgage and is around $292,000, according to the local real Housing Corp. estimates that average vacan- estate board. In the first quarter, sales rose 10 cy rate for private apartments in Red Deer is per cent from a year earlier – the best first quar 7.5 per cent — down from 9.2 per cent a year ter since 2008.â—†

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

1-800-661-6988

PAGE REGAN

ROB REGAN

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

780-490-9324 ar_ar@shaw.ca

197 ACRE SUB-DIVISION F O R S A L E

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

$7.5 Million

UĂŠĂŠ- "6 ĂŠ, 9ĂŠ -1 ĂŠ 6 - " ĂŠtĂŠtĂŠtĂŠĂŠĂŠĂŠ

UĂŠĂŠ{xĂŠ , ĂŠ 6 ," / ĂŠ , - ,6 ĂŠ* , ĂŠ

UĂŠĂŠĂ“xĂŠ*, ĂŠ-" -ĂŠ/"/ ĂŠ fĂŠĂŽ]Ǚn]nää°ää

UÊÊ 8 1- 6 Ê -/ / ÊÇ£Ê "/Ê -1 Ê 6 - " Ê

UĂŠĂŠ - ĂŠ fĂŠĂ“]™™ä]äää°ääĂŠ,"1 9ĂŠ fĂŠÂŁx]äää°ääĂŠ* ,ĂŠ , ĂŠ

UĂŠĂŠ1 , ,"1 ĂŠ*"7 ,]ĂŠ * 6 ĂŠ," -ĂŠ

UĂŠĂŠ6/ ĂŠ" ĂŠ{ä¯ĂŠ /ĂŠĂˆÂŻĂŠ / , -/tĂŠ

UĂŠĂŠ /1, ĂŠ , ]ĂŠ 6 , , -ĂŠ EĂŠ," ĂŠ -ĂŠ

UĂŠĂŠxĂŠ 1/ -ĂŠ ," ĂŠ /9ĂŠ / -ĂŠĂŠĂŠĂŠĂŠĂŠĂŠĂŠĂŠ

LAKE FRONT PROPERTY Glenn Moore Associate C21 Advantage Commercial

Phone: 403-318-8085 Email: glenn@advantagecommercial.ca www.reddeercommercial.com

UĂŠÂŁÂŁĂˆĂŠ , -ĂŠ7 / ĂŠĂ“ĂŠ/ / U棃{ĂŠ ĂŠ" ĂŠ ĂŠ ," / UĂŠĂŽ , ĂŠ 1 "7]ĂŠĂ“ , ĂŠ " ]ĂŠ- "* UÊ£ÉÓÊ "1,ĂŠ ," ĂŠ "7 /"7 ĂŠ " /"

Alberta B19

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

l o m

e a 0 r

ALBERTA OPPORTUNITIES E1013859 $219,000 In Westlock, 3200 sq ft. commercial building on 0.22 acre (77x122.6) lot. Approximately 1000 sq ft of office and showroom space. Approximately 2200 of warehouse space with 7X7 overhead door and 3 phase power. Call Bill 780-307-9099 $999,000 Beautiful 6 acre property in Pickardville. 3032 sq ft. 3 bed, 2.5 bath, 1.5 storey home. 2 shops measure 40x100 & 30x60 with 14 ft. overhead doors. Call Deanna 780-307-2612 E1013182 $225,000 Barrhead location. Built in the 1930’s this building has a quaint look that would be great for antique shop or clothing store. Lots of potential! Call Shannon 780-674-7150 E1013314 $295,000 Excellent farming quarter, located 5 miles North of Onoway on RR #22. Land is mostly rated #1 soil. Presently about 30 acres is in grain and the remainder in hay. A great addition to a farming operation. Call Shannon 780-674-7150 E1012288 $185,000 Located off Hwy 33 in Barrhead, close to downtown. Good size reception area & office, 2 bay garage with floor drains at rear of the building, huge covered area in front of the garage doors. Call Shannon 780-674-7150 E1014319 $320,000 160 acres over 2 quarters with over a mile of lakefront on Toad Lakes. Close to Onoway. 25 acres was seed oats & the remainder is 2 year old hay land. $2200 per year oil revenue. Call Shannon 780-674-7150

TEL. 780-349-3477 10111 104 Ave Westlock, AB T7P 1K6

RE/MAX Results

REVENUE OPPORTUNITIES

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

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

RE/MAX real estate central alberta

INVESTOR READY! Private Investor looking to purchase Light Industrial / Commercial Properties or Buildings with Tenants in place. Will consider any and all conditions.

780.841.1496 or dannyf@live.ca

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

4-PLEX IN COLD LAKE PRICE $525,000 FULLY OCCUPIED

UÊTrailer Park 12 unit, plus 7 residential lots – excellent cash flow UÊ AIRDRIE – 5000 sq.ft. industrial bay for sale with makeup air unit & inferred heaters UÊ 2500 sq. ft. industrial bay for lease UÊ 137 acres industrial land annexed into Crossfield, services close by, ready to be developed – excellent potential

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

LAND & BUILDING ONLY

$1,175,000

FULLY OCCUPIED PRICE $519,000

6 SUITES, Cromdale ..................................................$575,000 8 SUITES, Downtown ................................................$584,000 11 SUITES, NAIT .....................................................$1,067,000 12 SUITES, Downtown ..............................................$876,000 15 SUITES, NAIT .....................................................$1,575,000 15 SUITES, Downtown ...........................................$1,425,000 20 SUITES Cromdale..............................................$1,960,000 22 SUITES, Downtown ...........................................$2,420,000 30 SUITES, Westend ..............................................$2,900,000 NEWER WAREHOUSE, 1455 sq. ft. ............................$369,000

For full Proformas, Call or Email gillp@sutton.com PH: (780) 455-4088 Fax: (780) 455-4048 www.apartmentsinedmonton.com Sutton Central Commercial sutton central commercial real estate AN INDEPENDENT MEMBER BROKER

NORTHERN ALBERTA INVESTMENT/BUSINESS OPPORTUNITY • Restaurant/lounge/gas bar/convenient store for sale in Northern Alberta • Homesteader Building Supply Store for sale in Manning, AB • Commercial Lots For Sale in Manning, AB Looking for Investor's to purchase 4-plexes in the Peace Country

For Further Information contact:

Evelyn Petkus 780-836-3086 or 780-836-6478 EMAIL: Petkus@telus.net ROYAL LEPAGE, CASEY REALTY LTD. PEACE RIVER, AB

www.manningrealestate.ca INVESTMENT PROPERTIES FOR SALE! 15 UNIT APARTMENT, west end, all ones, many renos - 6.07 cap. Call for proforma 23 UNIT APARTMENT, University area, nice condition and 5.75 cap. Call for proforma 38 UNITS IN RED DEER, 4 storey with elevator, 24 ones, 14 twos, upgraded premium property in best rental area near Hospital and College – serious inquiries only please - $3,990,000 13,231 SF, 5 BAY RETAIL STRIP MALL in Leduc, AB. with solid long term tenants. 9 years old. NOI over $161,000 per annum. 7+ cap at $2,180,000. 68 PAD MOBILE HOME PARK in High Level, AB fully serviced, paved roads, underground utilities, fenced and landscaped, bare land condo titles. MOTIVATED OWNER WILL CARRY 75% FINANCING FOR A QUALIFIED BUYER INTEREST FREE FOR UP TO 2 YEARS!!! MLS $1,295,000 Looking for investment properties for all ICI categories. Fully qualified buyers. Call now for your complimentary evaluation and allow my 21 years of banking and 13 years of commercial real estate experience to assist you!

RICK D. JENKINS POLARIS REALTY

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

UÊ 132 acres highway #2 frontage, 20 minutes north of Calgary – call today

STEINKE AND COMPANY REALTY LTD.

UÊ 279 acres located next to Crossfield – possible development possibilities C/S UÊ ¾ acre industrial land for lease UÊ 137 acres with #2 highway frontage – excellent access UÊ East Balzac – NE of Calgary – 151 acres, 1250 sq.ft. bungalow, 40’ x 80’ Quonset UÊ BEISEKER – 2.73 acres industrial land, fenced & graveled, presently used for storage

UÊ 151 acres e a s t o f A i r d r i e – PRICED TO SELL UÊ Goalie Equipment & Development Business For Sale

UÊ SOLD CROSSFIELD – 22 room motel, great location, excellent condition C/S For more information on these and other properties

RE/MAX Cold Lake 2000

EDMONTON

APARTMENT PROPERTIES

LAWRENCE STEINKE

UÊ SOLD 809 sq. ft. Office / Retail space for sale, large lot

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

www.apartmentsinedmonton.com

UÊ 141 acres annexed into Crossfield, excellent potential

UÊ 320 acres excellent farmland – 20 mins N of Calgary

4-PLEX

Pam Gill

(780) 455-4088

call

DON SACKETT RE/MAX ACA REALTY

(403) 946-5657 ACA Realty

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

Specializing in Apartment Sales Since 1975 PH: (780) 447-9009 Fax # (780) 447-9008 Email: steinkeandcompany@gmail.com

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

APARTMENTS FOR SALE IN EDMONTON

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

COMMERCIAL / INDUSTRIAL FOR SALE

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

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

B20 Alberta

www.westerninvestor.com JULY 2011WESTERN INVESTOR

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

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

City of Wetaskiwin

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

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

www.cwedm.com

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

780-420-1177

investment@cwedm.com

MULTI-FAMILY OPPORTUNITIES •14 units; twelve 2-bdms, northeast; new roof and windows •17 units; central location; concrete construction; new roof and windows. •3.83 acres prime dev. land in Windermere, SW Edmonton •Highrise site on Jasper Ave; 15,000 s.f. across from River Valley; improved with 2 apt. bldgs. (17 units) •Highrise site in Rutherford; 1.02 acres zoned for 105 units in dynamic area •Stony Plain development site; zoned apt. & attached homes •High density dev. sites & apt. opportunities in Wetaskiwin •Country Residential Development Site; 150 acres; near Alberta Beach/Lac St. Anne Apartment product is in demand! Please call for our opinion of value of your building!

CHRISTOPHER KAMPHIUS or RAPHAEL YAU multifamily@cwedm.com

COMMERCIAL CONDOS •3,000 – 9,000 sq. ft.; located at intersection of Fort Road, Wayne Gretsky Drive & Yellowhead; $130 per square foot CONTACT BURKE SMITH

burke.smith@cwedm.com

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

INVESTMENT SALES

SHERWOOD PARK LAND - $26,000,000 • 150 acre site along Broadmoor Blvd. • Area Structure Plan approved for Commercial and Industrial CONTACT IAN NEWMAN OR MIKE PARKER

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

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

CONTACT DAVID COONEY / DOUG FOGG OR HOWARD McCANN

FORMER WAL-MART MEDICINE HAT, ALBERTA • High profile redevelopment opportunity • 12.95 acres / 100,287 s.f. building • $10,000,000

CONTACT HOWARD McCANN OR MARK McCANN

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

CONTACT JEFF McCAMMON OR DOUG BAUER

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

CONTACT DOUG FOGG OR MARK McCANN

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

john.croft@cwedm.com

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

CONTACT RAPHAEL YAU OR DOUG RAE

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

CONTACT JEFF McCAMMON OR DOUG BAUER

14,707 SQ. FT. SHOWCASE WAREHOUSE • Argyll Road / Sherwood Park Freeway • Clear span warehouse; dock & grade loading • $2,690,000 PRICE REDUCED!

CONTACT JEFF McCAMMON OR DOUG BAUER

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

CONTACT DOUG RAE

Alberta B21

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

"MCFSUB

impacting builders who comply with Alberta’s codes,� Goudreau said in a news release.

Homebuyer warranties eyed

Industrial vacancies drop in Edmonton

T

T

he Alberta government is proposing changes to improve the standard of building in Alberta to better protect new homebuyers and hold builders more accountable. “The vast majority of homes in Alberta are built well and stand the test of time. But we want to ensure that we have all the tools in place to address those instances where issues do arise,� said Municipal Affairs Minister Hector Goudreau. “This full-suite approach will involve all partners from municipalities and their inspectors to builders and safety codes officers to consumers and warranty providers.� The province says it will consult with key stakeholders on developing a regulatory framework for mandatory new home warranty programs. There are currently five new home warranty programs available in Alberta. The regulatory framework would enhance what is available to consumers and set minimum provisions and standards. The government is proposing an increase be considered for the limitations period, increasing the length of time that charges may be laid for building code offences to up to three years after homeowners take possession. It is also proposing the maximum fine be increased to $100,000 for a first offence and hiked as high as $500,000 for subsequent offences. The government says it wants to improve the standard of building in Alberta with a Municipal Affairs review of the Safety Codes Act. As well, the Safety Codes Council is conducting a broad review of Alberta’s inspection system and will provide building envelope training to all building safety codes officers in the province in the next 12 months. “Our comprehensive approach strikes the balance between consumer protection and industry responsibility without significantly adding to the price of a home or negatively

he rising fortunes in the oilpatch are reflected in a reduced industrial vacancy rate in the Greater Edmonton area for the first quarter of 2011. The industrial vacancy rate fell from 3.58 per cent at the end of 2010 to 3.49 per cent, despite the fact it actually rose outside the city in areas such as Leduc/Nisku. The new figures were reported in the 2011 Q1 update from Colliers International. The commercial real estate giant expects vacancy rates to tighten a little more in 2011, and for rates to adjust upward somewhat. “Edmonton’s surrounding markets have seen an increase in demand for shop space with yard, but there is a shortage of supply in this regard as the oil and gas service sector is getting back to work,� Colliers stated. “Tenants are looking for specialized space that meets the needs of their work, including heavy power, good floors, and big yards. Lack of supply has tenants looking for raw land appropriate for construction of typical shop space. In addition, land is being perused once again for lay down and assembly yards. “As in Edmonton proper, vacancy is projected to decrease in the surrounding markets and there will be an increase in positive absorption. Lease rates and sale prices are going to increase slightly as the oil and gas sector gets busier. As well there is an expected shortage of facility alternatives, especially shop facilities.�

Medicine Hat sweetens incentives

T

he City of Medicine Hat is trying to spur on downtown redevelopment with a new incentive program. The program consists of incentives available

$BMHBSZ¤T TQSBXM UBY QFS OFX IPVTF

S

uburban developers within Calgary city limits will pay significantly more in development levies now that Calgary city council has accepted a negotiated agreement between the city’s development community and its bureaucrats. Council voted in mid-May to accept a new offsite levy bylaw that will ultimately cost developers about $8,000 more per new home they bring to the market in Calgary’s sprawling suburban Calgary has nailed higher costs onto neighbourhoods. new suburban houses. The bylaw provides for a two-phase implementation scheme for the adjusted levies, with the lower levies applicable to only the first 400 hectares of land under 2011 development agreements. Once that land is tied up with new agreements, sanitary sewer levies will double from $22,178 per hectare to $44,356, and water levies will jump from $12,234 per hectare to $24,469. The second phase of the implementation scheme also hikes stormwater and transportation levies, but only by an additional 28 per cent. The bylaw to hike development levies was approved by a 12-2 vote of council, with Mayor Naheed Nenshi voting against the changes, not because of the steep hike in fees but because they still won’t recover the full costs of urban growth and infrastructure to accommodate it. Nenshi campaigned on smarter growth for Calgary in the fall 2010 election, and wants suburban growth to come closer to paying for itself. Photo: Sterling Homes

8 ) "5 ¤ 4 ) " 1 1 & / * / ( * /

to downtown property owners to assist them to redevelop or initiate new developments in the city centre. As part of the city’s downtown redevelopment plan, recommendations and suggestions came forward regarding improvements, including how to deal with vacant and dilapidated structures. City officials say there are several features to enhance the beauty of the area and entice both visitors and residents to explore unique shops and eateries located throughout the core. “The Downtown Development Incentive Program was created to provide financial support to downtown property owners to assist with redevelopment of old buildings and former retail sites, upgrading of living space above the lower storefront or development of new spaces on currently vacant sites,� said Abdul Khan, commissioner of development and infrastructure for the city. Property owners can now access up to

$50,000 for major renovations or new construction of a commercial building in the downtown. As well, property owners can access up to $100,000 for redevelopment or new construction on a multi-family project with a minimum of six suites. Property owners can also apply for up to $10,000 to develop a residential living space connected to their commercial building. Additional funds are available for up to two more suites on the property if space permits. The program also offers interest-free loans up to $100,000 to assist with redevelopment or new development in the downtown. “We have had lots of interest in the concept since city council approved it earlier this year so we are expecting it to be popular with downtown business and property owners,� said Keith Crush, the city’s business development officer.◆ – Compiled by Dave Husdal

EDMONTON & AREA OPPORTUNITIES COMMERCIAL

EP ZPV OFFE

- fast short term commercial -

JOUFSN ž OBODJOH

CAR WASH: Edmonton, 8 Bays, 1Auto, huge potential....................................................................$949,000 TRUCK & CAR WASH: Edmonton, 4hr, 3 truck bay, 1 RV, 6 car wash, Over $1 mil sales/year, ......$3.75mil HOTEL CENTRAL ALBERTA: Right in downtown, 7 VLT's, Pub & Restaurant ...............................$550,000 CAMP GROUND & RV PARK: Edmonton, 30min., 10 acres under huge upgrader, best location, Liquor store, Gas Bar ...........................................................................................................................$2.9mil MOTEL: Alberta South Big City, 3 years old Best Location, Over 1.5mil sales, Franchise ....................$7.9mil MOTEL: In Edmonton, Renovated, 39 Rooms, Over 800k sales, Private Manager's house .................$3.9mil GAS STATION: Edmonton 2.5hr, Brand new station -2 national franchise tenants, Huge Potential $3.75mil GAS STATION: Edmonton, 4 hr N of Edmonton, Brand Name Gas Station, $3M in store & $5M litre gas sale ...........................................................................................................................$6.5mil GAS STATION: Edmonton 30min., Franchise, New Equipment, Boom town, Car wash, $4.5 mil Sales .........................................................................................................................................................$1.89mil LIQUOR STORE: Edmonton 1.5hr, 20 years business owner retire, $900k average sales in 3 years$349,000 INVESTMENT: Edmonton, Business condo, 2900sf, Fully Leased, Good Potential ..........................$495,000

MORE LISTINGS ARE AVAILABLE PLEASE CALL

1FSGFDU GPS DPOEP DPOWFSTJPOT PS DPNNFSDJBM CVJMEJOH SFž OBODFT GBTU EFDJTJPOT CBTFE PO FRVJUZ POMZ

1MFBTF DBMM +BNFT BU

Â… Â…

8F MFOE BMM BDSPTT XFTUFSO $BOBEB

Jun Choi for Details

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

INDUSTRIAL SPACE - For Sale or Lease FORT MCMURRAY - Taiga Nova Industrial Park 13,000 to 52,000 (Square Feet)

G 50% PENDIN • 4.44 Acre Site • Lease or Purchase Options • Experienced Developer & General Contractor • LARGE Rear Yard!

$BMM .JLF (FPSHF PS #JMM 4DIPFNBLFS

Fall 2011

• 30' High Buildings

www.property-solutions.ca

B22 Alberta/Saskatchewan EKJIJ7D:?D= 8KI?D;II EFFEHJKD?JO CldY\i Xe[ Yl`c[`e^ jlggcp ZfdgXep `e :l[nfik_# JB% ( _i E%<% f] JXjbXkffe% ?`^_ i\klie fe `em\jkd\ek% Klieb\p jXc\% Fne\i n`cc d\ekfi gliZ_Xj\i% *.0#''' gclj `em\ekfip Xk Zfjk% DCJ +'*)-(%

Call 306-291-5544 for info package

www.westerninvestor.com JULY 2011WESTERN INVESTOR

7F7HJC;DJ 8K?B:?D=

EDMONTON LAND

7ia_d] ),/"&&& 8ekdZWho Ij" DW_YWc" IA

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

LESS THAN THE PRICE OF A HOUSE! EX`ZXd `j cfZXk\[ `e efik_ \Xjk f] JXjbXkZ_\nXe# Xggifo`dXk\cp )' d`elk\j ]ifd D\c]fik Xe[ ,' d`elk\j ]ifd ?ldYc[k% cfkj f] afY fggfikle`kp `e k_\ Xi\X% K_\i\ Xi\ (( knf Y\[iffdj Xe[ fe\ Y\[$ iffd `e k_\ Yl`c[`e^% Knf Y\[iffdj n`k_ YXcZfep Xi\ i\ek\[ ]fi +), n`k_flk YXcZfep +'' fe\ Y\[iffd i\ek `j *.,% Dfek_cp i\m\el\ `j ,'''% Pfl Xi\ Ylp`e^ () XgXikd\ekj ]fi k_\ gi`Z\ f] X _flj\% N`k_ Yffd`e^ \Zfefdp f] JXjbXkZ_\nXe# `k `j X c`]\ k`d\ fggfikle`kp [f efk d`jj k_`j%

For More Information Contact:

=fi dfi\ `e]fidXk`fe1 \dX`c g\im\qYXcfZ_7pX_ff%Zfd

<l^\e\ Bf_c\

BOBCAT DEVELOPMENT 780-722-4156

fi ZXcc d\ *'-$.(-$*'(/

:FC;N<CC 98EB<I# J8JB8KFFE# JB

00

55

,0

,1

25

26

$8

,5 $4

$2

$8

,7

15

95

,0

,0

00

00

AVISON YOUNG Edmonton Investment Team

partnership. performance.

Park Centre - 2308 96 Street

3619 118 Avenue

McLay Development Lands

Former TD Bank Building

9,247 sf of Professional/Medical with additonal land allowing for up to 10,000 sf of additonal development

An 8,150 sf building on a 12,000 sf site with excellent high traffic signage opportunity along main east/west roadway

292.01 acres of future development land in Sturgeon County close to the new Anthony Henday and HW 28 intersection

4,798 sf well located professional/retail situates on 9,604 sf of land on the corner 50 St. and 50 Ave; the main intersection in Leduc

Visit us at www.ayeinvest.com for sale listings, market information and the latest commercial real estate news

FLAGGED HOTEL IN SASKATCHEWAN UĂŠ ĂƒÂŽÂˆÂ˜}ĂŠ*Ă€ÂˆVi\ĂŠ$4.2MĂŠĂŠĂŠĂˆxĂŠ,ÂœÂœÂ“ĂƒĂŠĂœÂˆĂŒÂ…ĂŠ,iĂƒĂŒ>Ă•Ă€>Â˜ĂŒĂ‰/>Ă›iĂ€Â˜Ă‰ÂŁĂ“ĂŠ6 /Ăƒ UĂŠ >˜`\ĂŠĂˆĂŠ>VĂ€iĂƒĂŠĂŠĂŠĂŠ,iĂ›iÂ˜Ă•iĂŠ­Ă“ä£äŽ\ĂŠ,œœ“\ĂŠf£°Ă“ ĂŠĂŠ"ĂŒÂ…iĂ€Ăƒ\ĂŠfä°nx UĂŠ iĂœĂŠ`ˆ>“œ˜`ĂŠÂ“ÂˆÂ˜ÂˆÂ˜}ĂŠ>˜`ĂŠÂ…Ăž`Ă€ÂœĂŠ`>Â“ĂŠÂŤĂ€ÂœÂ?iVĂŒĂƒĂŠ>Ă€iĂŠVœ“ˆ˜}° 28 ROOMS MOTEL IN A MAJOR CITY OF SK ON HIGHWAY #1 UĂŠ ĂƒÂŽÂˆÂ˜}ĂŠ*Ă€ÂˆVi\ĂŠ$1.59MĂŠĂŠĂŠ,iĂ›iÂ˜Ă•iÉ " \ĂŠf{ÇÇ]xĂŽxÉfĂ“ĂˆÂŁ]Ç£ä UĂŠ >˜`\ĂŠ£°Ă‡Â™ĂŠ>VĂ€iĂƒĂŠĂŠĂŠĂŠĂŠ ÂœĂŒĂƒĂŠÂœvĂŠĂ€iÂ˜ÂœĂ›>ĂŒÂˆÂœÂ˜ĂŠ>˜`ĂŠ}œœ`ʓ>ÂˆÂ˜ĂŒi˜>˜Vi UĂŠ >ĂƒĂžĂŠĂŒÂœĂŠÂœÂŤiĂ€>ĂŒiĂŠ>˜`ĂŠ}œœ`ĂŠĂ€iĂŒĂ•Ă€Â˜

M A R T I N PA R K T: ÇÇn‡n™™‡äĂ“ä£ĂŠUĂŠĂœĂœĂœ° ÂœĂŒiÂ? ÂœĂŒiÂ?->Â?i°Vœ“ Re/Max Crown Real Estate Ltd.

Val Toffoli

Selling Edmonton since 1987

Phone: 780-707-9395

REALTY EXECUTIVES POLARIS

ADAM NIESNER REALTY (1991) LTD

4107 - 99th Street, Edm, AB T6E 3N4 Email: vtoffoli@shaw.ca • www.valtoffoli.com

MULTI-FAMILY APARTMENT BUILDINGS:

Regina Beach, SK Main Street Regina Beach. Thriving resort community. Thriving community just a short drive from Regina •Full service restaurant •Pizza Takeout •Fully licensed •Covered Deck Turn key operation, Two lots, building, equipment, training if rquired. Fully operational

• 2 Units – Full Side by Side Bi-Level Duplex. Great West End Location. Needs some TLC & priced Accordingly! •

• 12 Ste 2 Blks to College & New Proposed Arena; 1 Blk to LRT & Walking Distance to Downtown. Great Curb Appeal. Under $70,000/ste! •

15 of 26 Condo Units Available. Central – Walk to Downtown. Buy 1-2-3 or all. Great First time Investment Opportunity!

•

17 Ste CONCRETE Apt Building. New Balcony Railings; a lot of New Windows; Several Stes Substantially Upgraded. A few Blks from the Yellowhead. N Ctl location.

ASKING $399,000 Pense, SK Heart of the industrial corridor, Regina west, Global Transportation Hub, Mosaic Potash Mine •3 commercial lots located on Front Street, Pense •84 ft of frontage x 156 ft deep •Ideal for commercial development or multifamily residential; •Services to property line •Excellent development opportunity

ASKING $109,000

12 Ste Character Bldg. Owner Managed & Well Maintained. Large Stes. Central

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

Call Now For Details

LINDA BOXALL 306.536.1489 Website: www.lindaboxall.com

WANTED:

APARTMENT BUILDINGS Have QualiďŹ ed Buyers Ready to Purchase!

780.428.7850

HOTEL OPPORTUNITIES 06545"/%*/( */7&45.&/5 0110356/*5: 'MBHHFE SPPNT XJUI B IJHI QSPžMF MPDBUJPO XJUI FYDFTT BEKBDFOU MBOE JO B WFSZ WJCSBOU DJUZ " SFDFOUMZ SFOPWBUFE VQTDBMF SFTUBVSBOU BOE MPVOHF JT MFBTFE 5IFSF JT B HPPE SPPN NJY JODMVEJOH UIFNF SPPNT CSJEBM TVJUFT CBORVFU GBDJMJUJFT EBUB QPSUT BOE XJSFMFTT JOUFSOFU 0XOFS PQFSBUFT UIF CVTZ BOE IJHIMZ QSPžUBCMF TQPSUT MPVOHF PO TJUF %FQFOEBCMF DBTI ÂżPX XJUI B QPTJUJWFMZ USFOEJOH IJTUPSZ XJUI B HSFBU EFBM PG VQTJEF "TLJOH Â… 300.4 XJUI SFOUBM JODPNF GSPN MFBTFE SFTUBVSBOU MPVOHF XJUI 7-5T BOE MJRVPS TUPSF "NFOJUJFT JODMVEF HVFTU MBVOESZ BOE XJSFMFTT JOUFSOFU -PDBUFE PO NBKPS UIPSPVHIGBSF JO NJE TJ[FE NBSLFU "TLJOH Â… -*.*5&% 4&37*$& 300.4 JO NJE TJ[FE DFOUSF UIBU JT SBNQJOH CBDL VQ "NFOJUJFT JODMVEF QPPM IPU UVC žUOFTT SPPN BOE NFFUJOH GBDJMJUJFT 5IFSF JT B DMFBS BOE QBJOMFTT QMBO BWBJMBCMF UP CSJOH WBMVF UP UIF OFXJTI BTTFU ° DBMM BOE XFÂľMM UFMM ZPV "TLJOH Â… 300.4 JO B NBKPS DFOUFS UIBU XJMM TFSWJDF POF PG UIF MBSHFTU JOEVTUSJBM EFWFMPQNFOUT BOOPVODFE JO "MCFSUB 5IJT OFX QSPQFSUZ JT B QMFBTVSF UP TIPX XJUI UPQ HSBEF FOFSHZ FGžDJFOU DPOTUSVDUJPO &YDFTT MBOET BWBJMBCMF GPS QMBOOFE FYQBOTJPO PG NFFUJOH DPOWFOUJPO GBDJMJUJFT BEEJUJPOBM SPPNT PS B SFTUBVSBOU QBE "TLJOH Â… )05&- 1"$,"(& IPUFMT UPUBMJOH SPPNT JO NBKPS DJUZ "TLJOH GPS CPUI PS DBO CF QVSDIBTFE TFQBSBUFMZ Â… 300.4 '-"((&% )05&- XJUI MFBTFE SFTUBVSBOU BOE MPVOHF OFX (BNJOH 3PPN -JDFOTF BMMPXJOH GPS BO JODSFBTF UP 7-5T NFFUJOH BOE DPOGFSFODF GBDJMJUJFT CVTJOFTT DFOUSF žUOFTT SPPN BOE HVFTU MBVOESZ &YUFOTJWFMZ SFOPWBUFE BOE WFSZ XFMM NBJOUBJOFE "EEJUJPOBM JODPNF GSPN UFOBODJFT 5IF JODSFBTJOH CVTJOFTT USFOE JO UIJT TUSPOH DPNNVOJUZ DPNCJOFE XJUI UIF SFWFOVF QSPTQFDUT UIBU B OFX (BNJOH -JDFOTF CSJOHT QSPWJEFT UIF JOWFTUPS B DPOTJEFSBCMF MJGU 5JHIUMZ QSJDFE BU Â… 300.4 IJHIXBZ MPDBUJPO JO UPVSJTU BOE SFTPVSDF CBTFE DPNNVOJUZ XJUI DPOGFSFODF GBDJMJUJFT MPVOHF BOE SFTUBVSBOU BOE OFXMZ SFOPWBUFE SPPNT 5IJT QSPQFSUZ IBT B HSFBU EFBM PG VQTJEF BT UIF FDPOPNJD ESJWFS JO UIF BSFB JT VOEFSHPJOH B NBKPS FYQBOTJPO 5IJT QSPQFSUZ JT B TNBSU CVZ XJUI BO "TLJOH 1SJDF BU Â… -*.*5&% 4&37*$& 'MBHHFE MPDBUFE JO NJE TJ[FE PJM DFOUSF PO NBJO IJHIXBZ UISPVHI UPXO SPPNT BCPVU UISFF ZFBST PME "TLJOH Â… '*7& )05&-4 CPUI MJNJUFE BOE GVMM TFSWJDF BSF BWBJMBCMF JO "MCFSUBÂľT PJM DFOUSFT /FXFS QSPQFSUJFT UIBU DBO CF QVSDIBTFE TFQBSBUFMZ PS UPHFUIFS BT B QBDLBHF Â… 300.4 '-"((&% IPUFM JO CPPNJOH PJM DFOUSF 5IJT QSPQFSUZ JT KVTU MJLF OFX XJUI JNNBDVMBUF DBTF HPPET JODMVEJOH ÂżBU TDSFFO 57T (PPE NJY PG SPPNT JODMVEJOH TVJUFT BOE LJUDIFOFUUFT "NFOJUJFT JODMVEF HVFTU MBVOESZ 5FSSJžD QFSGPSNBODF XJUI UIF BTTVSBODF PG TUBCMF DBTI ÂżPXT HPJOH GPSXBSE "TLJOH

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

YOUR ADVANTAGE IN ALBERTA FIRST CLASS HOTEL IN GREAT CITY •Asking: $27.5M, •Revenue is about $6M •Premium 176 guest rooms & suites around 1acre garden court yard •8 meeting rooms/Banquet facility •Lounge and leased out restaurant & spa on 5 acres of land SHOPPING PLAZA, HOTEL IN BIG CITY •Asking: $14.9M •REV:$2.3M: Hotel: $1,110,695; Rental: $513,253; Others: $669,734 •48 oversized rooms plus 20 tenants and other big rev. income source •Located in big city downtown core with 4.9 acres of land and 102,000 sq. ft. building. FRANCHISE MOTEL NEAR CALGARY •Asking: $13M, •103 room, 4 storey •Revenue: $2.3M (2011 - Projected $3M) •High visibility from hwy. •Business is increasing & the best location w/just 2 yrs old & growing MONEY MAKING FRANCHISE MOTEL •Asking: $9.8M •REV: $3,158,106 •3 yrs old, very busy location •Limited Service, 85 Rooms, located in very busy city LIMITED SERVICE FRANCHISE MOTEL •Asking $7.6M •3 years old, 4 storey, 60 rooms •Swimming Pool w/water slide •Situated with excellent exposure in big city, AB FRANCHISE MOTEL NEAR CALGARY •Asking: $5M, •41 room w/ leased Boston Pizza •1.5 Acres, ready to add 20 rooms. FRANCHISE MOTEL IN SOUTHERN ALBERTA •Asking: $4.99M •REV: $1,124,570 •Revenue is very steady past few years during recession •48 rooms with client base from Provincial & Federal employees, tourists and oil, gas & agriculture. MOTEL IN B.C. •Asking: $5.09M •REV: $1,373,000 •81 Rooms w/Leased Restaurant & Lounge •Waterslide, Sauna, Pool •Located Trans Canada highway with amazing view •Can be converted as franchise Motel HOTEL WITH RESTAURANT & LOUNGE •Asking: $4.99M •Located in very busy Oil, Gas, Forest & Tourism in AB •62 Rooms, 100 seat Restaurant, 110 seat Lounge, 9 VLT's MOTEL WITH RV PARK •Asking: $1.57M •42 rooms, 3.89 Acres. •17 RV Site, 5 bedroom Managers suite TRUCK STOP & RETAIL SPACE IN CALGARY •Asking: $13.5M •Travel facility comprising 45,700 sq ft on a 16.6 Acre site, provides for future re-development •Strong sales with long history and 19 tenants including national brand name CAR WASH NEAR CALGARY •Asking: $3.89M •Revenue: $700,000 •7 bay and 1 auto. •Year: 2004. VERY BUSY CAR WASH •Asking: $3.49M •Revenue: $1.1M •8 Wand, 2 Auto, 1 RV Bay VERY PROFITABLE GAS BAR & C-STORE •Asking: $3.19M •Revenue: $5,394,767 •Gross Margin: $808,110 •NOI: $480,000 •Do Not miss this great business located in a very busy town RV SALES PROPERTY •Asking: $1.45M •Triple Net: $108,000, 5 yr and 5 yr option •4.23 Acres of Hwy commercial land with 7200 sq ft building •Located surrounding development area in central AB

MAXWELL

SOUTH STAR REALTY • www.leechoonho.com FRANCIS LEE, Associate Broker IC & I Full Commercial Member • Manager Business & Investment Div

For More Details

Tel: 403-253-5678

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

Alberta/Saskatchewan B23

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

SASKATOON

Great Western Coffee Co. - $329,000

Accelerating success. FOR SALE

FOR SALE

240-103RD ST E

302 MELVILLE STREET

FOR SALE

3530 KINNEAR AVE

39.053 SF with 6,600 • 2.36 acres with IL3 SF office and 11,440 SF zoning (light industrial Cover-All business) • List Price: • List Price: $826,000 $5,360,000 incl. equip. MLS® $4,300,000 excl. equip. MLS®

363,520 SF floorplate on 13.774 acres • Ideal for distribution, warehousing and/or mfg. with high ceilings, freezer, cooler and warehouse • List Price: $15,900,000 Excl.

•

•

• Northern Saskatchewan's only coffee roastery! • Located in Prince Albert, Saskatchewan’s Hot Spot for development • Upscale internet café with Drive Thru! • Wholesale opportunities • 5 & 10 year lease options available www.greatwesterncoffee.ca • Busy 15th Street East location close to Superstore Contact Rita Busch at & Cornerstone big-box shopping harbour@sasktel.net or 306-425-7766 • Training can be arranged • Information package available

Ken Suchan Kevin Johnson Jason Wionzek Gary Compton 306 221 1825 306 281 9929 306 227 2408 306 260 6975 kevin.johnson@colliers.com ken.suchan@colliers.com gary.compton@colliers.com jason.wionzek@colliers.com * Ken Suchan (Ken Suchan Realty Inc.) has a contractual relationship with Colliers McClocklin Real Estate Corp. Colliers McClocklin Real Estate Corp. / 306 664 4433 / www.colliers.com/saskatoon

Saskatoon Apartment Complex

SCR Commercial Realty Vince Lachance

Tom Watt

Orville Sleen

2004 Sherwood Drive Sherwood Park, Alberta Phone: 780.417.5540 www.scrcommercialrealty.com Bruce Stubbs

James Kelly

Jeff Sutherland

•72 units in East College Park •Close to U of S and 8th Street Business •3 well maintained 24 unit blocks •Asking $7,300,000.00. Exclusive listing. •Information Package Available.

Earl Cooper

Contact Sutton Group Norland Realty 306-241-7751

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

+1 780 420 1585 www.colliers.com Retail Investment Opportunity

16,164 SF RETAIL BLDG 542-24 St., Fort MacLeod, AB Fully leased to 5 tenants Fort Plaza NOI - $162,323

Accelerating success. Multifamily Opportunity 102 UNITS SOLD

15 UNITS AVAILABLE

7 ACRES LAND

ECO PARK

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

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

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

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

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

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

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

Land & Building Opportunities 30,000 SF BUILDING

160 ACRES

Ponoka, AB 7 acres, Highway 2 exposure

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

80 ACRES Parkland County, AB Country Residential, preliminary development plan available

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

12,000 SF BUILDING Edmonton, AB Calgary Trail, office/retail centre, for sale or lease

155 ACRES Parkland County, AB Country Residential development east of Stony Plain

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

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

Steven Pearson

Jeff Grobman

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

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

Fort McMurray Opportunities

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

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

14 UNITS COMING SOON Edmonton, AB North location, new PVC windows, 12 - two bedrooms, upside on rents BULK CONDOS FOR SALE AVAILABLE Edmonton, AB Below market prices, call for details

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

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

www.colliersmn.com\edmontonapartments

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

MOOSE CREEK HOTEL Edson, AB 9 rooms, bar with VLTs, lounge & liquor store $950,000

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

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

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

INDUSTRIAL BAYS FOR SALE OR LEASE Ready December 1, 2010 Taiga Nova Eco Industrial Park

GRAVEL PITS

Greater Edm. Opp.

Fort McMurray, AB

132,995 SF INDUSTRIAL FACILITY

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

Sturgeon Ind. Pk., AB Sale or lease. 30,000 SF bays available. Abundant yard. Future CN Rail Service. Flexible completion options.

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

Perry Gereluk

Evelyn Stolk

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

DIR +1 780 969 3002 evelyn.stolk@colliers.com

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

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

Ken Shebib MOB DIR

+1 780 863 7355 +1 780 881 6297

ken.shebib@colliers.com

Land Opportunities RED DEER LAND

WABAMUN LAKE LANDS

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

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

Mark Swaenepoel

Rick Argue

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

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

B24 Saskatchewan

www.westerninvestor.com JULY 2011WESTERN INVESTOR

been proposed by major companies. Mining is the province’s third-largest industry, with more than 30,000 employed in the sector and $6.8 billion worth of mineral sales last year. )N THE INDUSTRY SPENT MILLION exploring for minerals, primarily for potash, coal and uranium but also gold, base metals and diamonds. “According to the forecast, another $280 million are expected to be invested in exploration this year,’’ McMillan askatchewan businesses are the most said. optimistic in Canada according to a The mining rush is also being seen in the recent survey. The Canadian Federation of Independent urban commercial real estate markets. BHP Business monthly business barometer, which Billiton recently moved its diamond business to Saskatoon from Vancouver, andMosaic reveals optimism for the year ahead among Potash is building its new headquarters in small-business owners in Saskatchewan, increased by 4.6 points in March to 75.2 from Regina, McMillan told reporters as Mining an index of 70.6 in February, and is well ahead Week kicked off last month in Regina. Steve Fortney, general manager at of the national index of 69.2. The report also noted that 30 per cent of Saskatchewan busi- PotashCorp’s Rocanville mine, said nesses also plan to increase full-time employ- PotashCorp is spending close to $6 billion to expand its potash production, including the ment in the next three to four months – the $2.8 billion expansion project at Rocanville highest in Canada. SCHEDULED FOR COMPLETION AT THE END OF Other highlights include: Meanwhile, Vancouver-based Western s PER CENT OF 3ASKATCHEWAN BUSINESSES say the overall state of business is good (com- Potash Corp. has proposed a giant new potash mine about 35 kilometres south of pared with 38 per cent nationally); 44 per cent say it’s satisfactory (47 per cent nation- Regina. A company spokesman, however, said funding has not been assured for the $2.5 bilally); lion proposal. s PER CENT OF 3ASKATCHEWAN BUSINESSES plan to increase full-time employment in the next three to four months (20 per cent nationally) and only 4 per cent plan to DECREASE PER CENT NATIONALLY AND s THE SHORTAGE OF SKILLED LABOUR PER cent) is identified as the main business constraint in Saskatchewan. ousing sales in Saskatchewan’s largEST CITY INCREASED PER CENT IN May, to 423 homes, compared with May ACCORDING TO THE Saskatoon Region Association of Realtors. The average residential selling price in May WAS UP PER CENT FROM -AY OF LAST askatchewan could see an unprecedent- year. The increase in the average selling price indicates strong sales activity in the mid-toed $43 million invested in the mining sector over the next 20 years, according to upper price range. Year to date, the average selling price the Saskatchewan Mining Association. stands at $304,664, up 5 per cent from last Saskatchewan’s Crown Investment Corp. Minister Tim McMillan said potash producers year at this time. Inventory levels continued to stabilize in ALONE PLAN TO INVEST BILLION IN THE PROVTHE MONTH OF -AY (OMEBUYERS HAD ince within the next nine years – and that homes to select from at the end of the month, doesn’t include new potash mines that have 8)"5¤4 )"11&/*/( */

Businesses “most optimistic�

S

Saskatoon home sales are rising

H

Mining plays could top $43M

S

3&(*/" "DSFT

GRAIN LAND INVESTMENT OPPORTUNITIES 25% DOWN BALANCE MORTGAGE (OAC)

Call today for your opportunity

Â… NJMFT OPSUI PG DJUZ MJNJUT Â… $VSSFOUMZ [POFE BHSJDVMUVSF Â… (SFBU QPUFOUJBM

RE/MAX Saskatoon

Â… BDSF

Ed Bobiash

,FJUI #BSUMFUU

SASKATOON APARTMENTS

Farm & Acreage Specialist 306-222-7770 s ed@edbobiash.com www.SaskLand4Sale.com Sterling Development Land Excellent Investment / Development Opportunity Only 6 kms East of Saskatoon $889,900 Land with Gravel Deposits Wakaw & Shell Lake Waning /Kerr Land 8o acres of Rolling hills / Scenic views Sub dividable for acreages $114,900 2 Quarter Sections for Grazing and one natural forest for recreation. Mixed Farm NW of Shellbrook $289,900 Grain Land East of Saskatoon

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

8Vaa

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

lll#YZaeZiZghgZVain#Xdb

Acreages around Saskatoon Call for information www.SaskLand4Sale.com

4QFDVMBUPST EJWF JOUP 3FHJOB JOEVTUSJBM NBSLFU

S

peculating developers are getting busy in Regina as the industrial vacancy rate has fallen to a Canada low of PER CENT DESPITE A PER cent increase in supply over the past two years. “With effectively no available industrial space within the city, tenants have little choice but to build their own space or take advantage of build-to-suit options outside the city limits,� according to a study by Colliers Regina officials open the 965,000-square-foot International. Canadian Logistics Services distribution warehouse. The biggest boost to Regina’s industrial inventory is the completion of the nearly million-square-footCanadian Logistics Services (CLS) distribution warehouse, the first major tenant at Regina’s 3,250-acre Global Transportation Hub. The two phases of the CLS project will encompass 965,000 square feet, with the first 423,000 square feet already completed and in use. By last month, traffic increased to about 80 trucks daily coming in and out of the giant complex in west Regina. h4HERE WILL BE AN INCREASE IN SPECULATIVE CONSTRUCTION IN

v #OLLIERS FORECASTED NOTING that most new developments will be fairly small, multi-tenant buildings of about 20,000 square feet. 0RICES FOR PARTIALLY SERVICED INDUSTRIAL LAND IN OUTLYING AREAS ARE NOW IN THE PER acre range, up from the $80,000 average a year ago. Some prime serviced sites in the city are selling for more than $220,000 per acre, however. h7ITH THE COST TO BUILD NEW INDUSTRIAL SPACE RANGING BETWEEN PER SQUARE FOOT TO PER SQUARE FOOT FOR FINISHED SPACE THE RESALE OF EXISTING BUILDINGS MAY EXCEED PER SQUARE FOOT IN v #OLLIERS CAUTIONED 2ISING COSTS ARE ALSO DRIVING RENTAL RATES HIGHER WITH NEW PRODUCT AT NET PER SQUARE foot, and existing space renting for up to $9 per square foot, net, according to Colliers. -OST OF THE SPECULATIVE INDUSTRIAL DEVELOPMENT IN IS EXPEC TED TO BE BUILT IN THE RURAL municipalities of Sherwood and Edenwold, Colliers notes. Photo: City of Regina

4BTLBUDIFXBO

UP SLIGHTLY FROM -AY 9EAR TO DATE for resale prices to move up slightly due to demand,� the realtors group noted. properties have been listed for sale, on par Meanwhile, the apartment rental vacancy WITH rate in Saskatoon is a fairly tight 2.6 per cent, Saskatoon’s new-home market remains strong, with steady city lot sales taking place, according to Canada Mortgage and Housing Corp. This is one of the lowest rental vacancy according to the association. rates of any major Canadian city. “Interest rates are favourable to purchase The agency estimates that about 20 per that next home and job creation in the cent of condominiums in Saskatoon, both new Saskatoon area remains steady. The forecast and used, are on the rental market, totalling FOR THE REMAINDER OF IS FOR LISTING AND ABOUT UNITS ◆ sales numbers to increase marginally and

PRAIRIE DEALS GREAT IMMIGRANT FAMILY OPPORTUNITY! •24 UNIT MOTEL - w/ INTERIOR HALLWAYS & OWN ENTRANCE FROM FRONT DOOR • NEAR NATIONAL PARK - HOTEL, OFFSALE, RESTAURANT, POOL, - OWNERS RETIRING! •MANITOBA HIWAY LOCATION •ASKING $750,000 •ON "LOOPNET" MOTELS - BONNEYVILLE, AB: Great Oil Town! 24 units + Manager's suite. Asking $1.2M MOTELS - COMING SOON! Call Us Today, 3 Units in SASK. WATCH FOR THEM HERE! 3.25 ACRES - Industrial lot - $499,000. Motivated Seller! BUILDING IN REGINA, SK 1759 Halifax - 2 Storeys, 5550 sq ft - $424,000 FORT QU'APPELLE, SK - 120 & 102 Broadway Street. Total 9,860 sq. ft. Buy as a package. Multi tenant Income producing! Asking Price is $165,000 and $275,000 WAREHOUSE/CONDO BAY - FOR SALE: New construction, Starting $295,500 - 1500 sq. ft. +. GRAVELBOURG - 19 room Bed & Breakfast. - REDUCED - $199,900. On 2.39 acres - REDUCED - $149,900! INDIAN HEAD - 8 Unit apartment - $250,000. CONDITIONAL SALE! BRANDON: 62 rooms, REDUCED $2.9M WANTED: Apartments Strip Malls, Hotels/ Motels, Parking Lots. ALL LOCATIONS

Ajit Matharu

ADAM NIESNER REALTY (1991) LTD

REGINA AREA Commercial Property •9447 sq. ft. commercial building •Main Street Lumsden • 5 fully leased businesses •Top oor 1655 sq. ft. condo Res or Rental

$820,000 Country Residential Development •120 acres prime land. 10 minutes from Regina, services to site, pavement all the way. Out buildings, building permit for house construction. Close to Deer Valley, Flowing Springs Golf courses, Condie and Wascana Trails

$799,000 Call Now For Details

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

LINDA BOXALL

HOMELIFE CRAWFORD REALTY www.DreamTeamSK.com

Website: www.lindaboxall.com

306.536.1489

Saskatchewan/Manitoba B25

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

Realtors judge hockey’s impact

W

innipeg’s realtor community is ready to hop over the boards. With more than 20 wealthy hockey players preparing to move to town in the coming weeks, plus coaches and other team officials, realtors are preparing for the kind of market boom that comes with eclipse-like regularity. Glen Williams, a realtor with Century 21 Bachman & Associates, has been in direct communication with team members and officials since before the May 31st press conference announcing the purchase of the Atlanta Thrashers to True North Sports & Entertainment. “They have to be here in September. We’re anticipating it’s going to be a busy summer,” he said. “It’s no different than a company relocating 40 employees [to another city]. They need to gather information and determine housing.” Williams said he anticipates the players will be looking to buy in Winnipeg’s southwest quadrant, which includes neighbourhoods such as River Heights, Tuxedo, Whyteridge and Lindenwoods. Hundreds of realtors will be hoping to get a piece of the expected hockey action, as the vacancy rate in Winnipeg’s residential rental market is less than 1 per cent. Williams said he has a good number of higher-end homes, priced between $700,000 and $7 million, which he is preparing to show the city’s newest heroes. “It won’t take much to stimulate our market. There will also be ripple effects. As one player buys a home in the $500,000 range, that could cause the seller to move into the $800,000 range,” he said. According to Winnipeg realtors, there were 122 detached homes available for sale in the city in early June in the $500,000-and-higher category. There were also a dozen condominiums in the same price range.

I

t took just a few short days for Winnipeggers to show the NHL that they’re serious about hockey. The drive to sell 13,000 season tickets in advance of the league’s board of governors’ late-June meeting, where the sale of the Atlanta Thrashers to True North is expected to be approved, was an overwhelming success. Season ticket and mini-pack holders of the Manitoba Moose, the city’s outgoing American Hockey League team, were given first dibs and bought more than 7,000 tickets. When the sale was opened up to the general public, the remaining ducats sold out in just two minutes. (It took 15 minutes more to process them.) The MTS Centre holds about 15,000 people. About 1,000 of those seats are in luxury boxes while the remainder will be sold on a gameby-game basis. The joke around town is that the most popular pick-up line in bars is, “I’ve got season tickets.”

Stadium name deal struck

M

TS Allstream didn’t wait until the deal to buy the Atlanta Thrashers was finalized to extend its connection to the focal point of downtown Winnipeg. The telecommunications company has signed a deal with True North that will see its name affixed to the MTS Centre for years to come. Neither the price tag nor the length of the deal has been released but Jim Ludlow, president and CEO of True North, confirmed the renewed partnership. “Neither of us saw any way of moving forward other than together. MTS has been a very good partner with us since 2004,” he said. Prior to the MTS Centre opening in the fall of 2004, MTS signed a 10-year naming rights agreement on the $133.5 million building.

Amazing Opportunities! GROCERY STORE: Big, 2 Million in Sales, modern building and newer equipment. Located in a growing town. STRIP MALL: 8.5% CAP Rate, approx., 12,000 sq ft, no vacancy, all Triple "A" long term tenants MOTEL: 50 rooms, living quarters. lots of renovations, manager in place INVESTMENT PROPERTY: One 15 year tenant, national chain franchise, 10,000 sq ft. 8.5% CAP Rate

I HAVE SMALL GROCERY STORES & MOTELS THAT MAKE MONEY, MOTELS, ALL UNDER $500,000

Century-21 Westman.com Brandon, MB

Direct Line: 204-729-5074

Email:

mmelnyk@mts.net

8JOOJQFH CVTJOFTTFT DIFFS BT /)- SFUVSOT

W

hen True North Sports & Entertainment chairman Mark Chipman uttered the following statement into a microphone – “I am excited beyond words to announce our purchase of the Atlanta Thrashers. We received the call we’ve long been waiting for,“ – a crowd of Winnipeg residents erupted with cheers, jubilation and ball hockey games at Portage and Main. It’s been 15 years since the Winnipeg Jets left town for Phoenix and news that the city had re-entered the big leagues had the business community celebrating like it had just scored the Stanley Cup winner in double overtime. Marina James, president and CEO of Economic Development Winnipeg, said the return of the NHL will trigger millions of dollars in spending on tourism, hospitality and retail. But perhaps the biggest benefit of all has no price tag – the boost to Winnipeg’s international reputation. James cited studies that show every time a visitor comes to Winnipeg, he or she spends between $167 and $337 per day, depending on the purpose of the visit. People in town for conventions, for example, Hockey arena will still be named for telecom company tend to spend much more than leisure visitors. The return of the NHL, while undoubtedly the story MTS Allstream. (TOP) Winnipeg of the year for many residents, is really just another crowd hears of NHL’s return. milestone in a city on the move, James said. Other significant events on the horizon include the opening of the new $585 million terminal building at James Richardson International Airport this fall, next year’s opening of the Canadian Museum for Human Rights and the new stadium for the Canadian Football League’s Winnipeg Blue Bombers, plus major expansions at both the University of Manitoba and the University of Winnipeg. Bob Chipman, patriarch of Winnipeg’s first family of hockey, said he has long maintained that the city lacked two things – an NHL franchise and an IKEA store. (IKEA is planning to open its much-anticipated location next year.) “I think Winnipeg now has equal status with Montreal, Toronto, Calgary, Edmonton, Ottawa and Vancouver as a truly important Canadian city,” he said. Photo: 365 Winnipeg

.BOJUPCB

Season tickets sold out fast

Photo: True North Sports & Entertainment

8)"5¤4 )"11&/*/( */

Ludlow said the two companies would announce the details of the naming rights “in short order.” He said it goes without saying that the new deal will be considerably richer than the previous one as MTS is now associated with one of only 30 buildings in North America where NHL hockey is played.

MTS declined to comment on any deal. Instead, Selina Hinds, the company’s director of corporate communications, said it joined with the rest of Manitobans in celebrating the NHL coming back to Winnipeg. “The return of the NHL is fantastic news for Winnipeg,” Hinds said.◆ – Compiled by Geoff Kirbyson

NOW SELLING! MANITOBA OPPORTUNITIES VERY ATTRACTIVE BUSINESS OPPORTUNITY • Located in Riding Mountain National Park • 22 rental bungalows plus large owner’s cottage • Very well established second generation owners www.thunderbirdbungalows.com 11 UNIT APARTMENT CONDO CONVERSION • All mechanical updated - renovations completed June 2010. • High quality finish throughout, very appealing apartments. • Condos leased - ATTRACTIVE CAP RATE

TED TEMPLE

1-204-725-8855 ttemps@mts.net

• Great Location, Great Building! • Property for Sale or Lease • Building more than 3900 sq ft • Property is 21,850 square feet

Royal LePage Martin-Liberty Realty Office: 204-725-8821

JEFF TEMPLE

1-204-724-3980 jefftemple181@hotmail.com

3926 3934

RETAIL DEVELOPMENT OPPORTUNITY Kindersley, SK • Anchored by Walmart • 41,000 sq. ft. of rentable area potential Land Size: ±3.3 acres Sale Price: $1,330,000 ($9.25 psf) Contact: Eugene Hritzuk

ATTENTION: RV/MARINE DEALERS 105 South Service Road, Hwy 2 Wakaw, SK Land Size: 1.95 acres or 90,792 sq. ft. Building Size: 8,748 sq. ft. Sale Price: $550,000.00 Contact: Barry Stuart & Kelly Macsymic

ICR Commercial Real Estate icrsaskatoon.com ME

NT

DEVELOPMENT OPPORTUNITY – INDUSTRIAL LAND 3926 & 3934 Arthur Rose Avenue Saskatoon, SK Land Size: ±1.34 acres (3926) & ±1.33 acres (3934) Sale Price: $521,260 (3926) & $530,670 (3934) Contact: John Kachur

Downtown office: 306.664.6116

INVESTMENT OPPORTUNITY 1112 5TH STREET, ESTEVAN, SK Land Size: 100’ X 120’ = 12,000 sq. ft. Building Size: 7,000 sq. ft. Sale Price: $275,000 Contact: Ken Kreutzwieser & Lisa Budd

North office: 306.933.2929

“Saskatchewan’s largest commercial real estate company”

B26 Manitiba

www.westerninvestor.com JULY 2011WESTERN INVESTOR

SPOTLIGHT Churchill fears end of Canadian Wheat Board monopoly will stifle critical grain shipments

0UUBXB NPWF GSFF[FT OPSUIFSO QPSU GEOFF KIRBYSON

$IVSDIJMM .BO

WESTERN INVESTOR hurchill is one of the coldest communities in Canada but the new majority government in Ottawa has got its leader hot under the collar.

Mike Spence, mayor of Manitoba’s most northern outpost, said the Harper government’s plans to eliminate theCanadian Wheat Board’s (CWB) monopoly on grain could have serious implications on the amount of traffic flowing through Churchill’s port. Ottawa has already announced that legislation will be introduced this summer designed to undo three-quarters-of-a-century of pooled Prairie grain marketing by the CWB. The single desk marketing function for Prairie wheat and barley will end by August 2012. The legislation will mean the end of the CWB and pink slips for more than 400 employees. Spence said there’s only one way to express how much the CWB means to Churchill. “It’s huge. It’s 99 per cent of the product going through the Port of Churchill. The other 1 per cent is resupply to the north,� he said. Spence said the port employs about 20 per

Photo: Port of Churchill

$

A longer ice-free shipping window had looked promising for Canada’s most northern port. Then the feds stepped in.

cent of the town’s 1,000 residents. When spinoff industries are included, the importance of the port goes through the roof. About 650,000 tonnes of grain were shipped through the port in 2010. Taking away a single desk would cause some significant uncertainty, Spence said. Would it take away 50 per cent of the volume? Sixty per cent? Ninety per cent? “That’s what we’re faced with, the unknowns,� he said.

"HFOEB IJEEFO

“The Harper government has another agenda for Churchill. Let us know what it is. We’re trying to figure that out. Is Churchill going to con-

Population 1,000 Major employer Port of Churchill Potential Tourism, mine servicing

tinue to play a role in shipping grain through the Port of Churchill? I wish the government would take a closer look at Churchill and the situation we’re in.� Regardless of what happens on the grain front, Spence said it’s critical for Churchill to diversify its revenue sources. He said it can play a significant role in the mining and metal industries of Nunavut, including shipping fuel and other commodities to help develop the territory’s infrastructure. Spence said he’d also like to explore what kind of role Churchill could play inCentrePort, Canada’s inland port in Winnipeg, in terms of shipping goods to Russia, China and India. Churchill can provide a more direct shipping route by going out through Hudson Bay to the Atlantic Ocean, he said. “The governments of the day need to realize Churchill can play a significant role in the development of Canada and Canada’s north.

Sure, there needs to be investment. We’re all faced with the challenge, you’ve got to nurture it. We should be investing in our infrastructure so we can put people back to work,� he said. Another hot-button issue in Churchill is global warming. On one hand, warmer temperatures mean an earlier break up of northern shipping routes, which translate into an expanded shipping season. Whereas currently shipments flow from the first week of August to the end of October, Spence said he foresees a time when the port is busy from July through to the end of November. On the downside, however, the higher the mercury, the more difficult it becomes for polar bears to live in their natural habitat. That’s a troubling trend for a community that calls itself the “Polar Bear Capital of the World.�

5PVSJTN

John Gunter, general manger of Frontier North Adventures, which provides polar bear tours in “tundra buggies,� said there will be polar bears in the West Hudson Bay area for as long as he’s alive. It’s his great, great, great grandchildren that may have to deal with the consequences, he said.◆

.BOJUPCB Business in a Thriving Town

DON'T MISS THESE MANITOBA MARVELS!

Do you have a

unique property? Advertise your listings in our special

GOLF COURSE / LAND Lakeview 6000 sq ft 150 seat restaurant, 3 VLT's, 1500 Sq Ft 4 BDRM apartment upstairs in thriving tourist town of Gimli, Man. Asking $695,000 Ingrid Bennett 1-888-642-8501

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

Development Opportunity

s ,OCATED JUST %AST OF 7INNIPEG -ANITOBA ON (WY s 4OTAL OF PRISTINE ACRES s HOLE GOLF COURSE s ,AND AND GOLF COURSE CAN BE PURCHASED TOGETHER OR SEPARATELY s 5P TO ACRES OF RESIDENTIALLY ZONED LAND s 0ROPOSED DEVELOPMENT PLAN AVAILABLE s )DEAL FOR A MOBILE HOME 26 PARK #ONTACT $AVE "ERGMAN 204-229-5136 DAVIDBERGMAN REMAX NET WWW THECOMMERCIALTEAM CA

BEAR COUNTRY COTTAGES, 7 newly constructed luxurious 2 and 3 bedroom cabins designed to pamper couples, accommodate a family of eight or small groups. Each cabin has hot tub, steam showers, home theatre system w/ surround sound, a full kitchen. Site also includes a seasonal takeout pizza restaurant, children’s playground and ofďŹ ce. One hour drive north of Winnipeg on 35 acres of private forested land. $850,000 Melodie

CHICKEN CHEF FRANCHISE, Thriving Turnkey Restaurant Franchise includes 5096 sq ft building, all equipment, inventory, goodwill and franchise in Pine Falls/Powerview. Seating for 64. Second half of building set up as a conference/meeting room but could be used as second restaurant. $399,900 Shanna Karle

MELODIE ATEAH BROKER/OWNER

1-866-755-5406

www.ateahrealty.com

$2 Billion

in opportunities every issue!

Subscribe: call 604-669-8500 or toll free 1-800-661-6988 COMMERCIAL REAL ESTATE, FRANCHISES & BUSINESS OPPORTUNITIES

feature.

Reach potential buyers with money to spend. Western Investor readers have higher than average household income and a real interest in real estate.

Recreational Real Estate ADVERTISING FEATURE:

ATEAH REALTY LTD

1-800-661-6988

HOT PROPERTIES

Media Kit on-line: www.westerninvestor.com

• Limited spaces • 4-colour ads • Special rates 604-669-8500 • 1-800-661-6988 advertise@westerninvestor.com

Franchises B27

WESTERN INVESTOR JULY 2011 www.westerninvestor.com

Tim Hortons CEO steps down

T

Photo: Tim Hortons

he sudden departure of Tim Hortons Inc. president and chief executive Donald Schroeder may signal a pull back in the company’s ambitious U.S. expansion strategy, a retail analyst said. Tim Former Tim Hortons Hortons has nearly Inc. president and 600 restaurants in chief executive the U.S. and has said Donald Schroeder. it will open about 300 new outlets by 2013, primarily in its existing markets of Michigan, New York and Ohio. Late last year, the restaurant chain closed 36 restaurants and 18 kiosks, primarily in New England. “Everything could be on the table,” said Kenric Tyghe of Raymond James. He said the coffee and doughnut chain’s core business in Canada has suffered as the franchise company focused on a U.S. expansion that Tyghe called “too big and too audacious.” He added the Oakville-based chain has faced challenges in establishing its brand in U.S. cities as it competes with established restaurants such as Dunkin’ Donuts and Starbucks in a difficult economic climate. But Brain Yarbrough, retail analyst at Edward Jones in St. Louis, MO, noted the U.S. push was approved by Tim Hortons under executive chairman Paul House, who has previously held the CEO post. House takes on the role of interim CEO until a replacement for the 65-year-old Schroeder can be found. Tyghe said the company plans to invest heavily in promoting its brand in the U.S.

Franchisor blames HST for closure

V

Soul buys 204 KFC outlets

Y

Done Deals editorial feature will highlight deal flow in Western Canada. Show the market what is moving and who is moving it. The monthly report will highlight major (basically 50K square feet or more; or land deals of $2 million or more) commercial real estate transactions that have closed within the last 30-45 days in Western Canada. Please send us the following information:

FRANK O'BRIEN Editor

.S. retail giant Target Corp. has named the first 105 locations it will banner after taking over the Zellers chain from Hudson’s Bay Co. The stores, including 34 in Western Canada, will open in 2013 after undergoing renovations and rebranding. B.C. will account for 15 Target stores, including Oakridge Centre in Vancouver, Metropolis at Metrotown in Burnaby, Coquitlam Centre, Scottsdale Mall in Delta, Willowbrook in Langley and Target will open 34 stores in Western Haney Place in Maple Ridge. Abbotsford, Canada, including 15 in B.C. Chilliwack, Victoria’s Tillicum Mall, Nanaimo and Campbell River will also get stores. Alberta will have 13 Target stores, including three in Edmonton. There will be four Targets in Winnipeg, and one each in Regina and Saskatoon. The chosen locations will continue to operate as Zellers stores before closing for six to nine months and reopening as Target stores. RioCan Real Estate Investment Trust, one of Canada’s largest retail landlords, said 21 of its 34 locations with Zellers stores were on the initial list. “This transaction will bring tremendous potential for repositioning and the opportunity to further enhance value and cash-flow growth in our centres,” RioCan president and chief executive Edward Sonshine said in a statement. Primaris Retail Real Estate Investment Trust owns five locations, while Homburg Canada Real Estate Investment Trust owns three spots in Quebec. Morgaurd and Morguard Real Estate Investment Trust own 12 of the mall locations. Under the deal signed earlier this year to take over up to 220 Zellers locations Target said it will select additional locations this fall. Hudson’s Bay has 279 Zellers locations. Stores that Target does not want could be sold or remain in the hands of the Bay. Target said it plans to spend about $10 million on each store to renovate and remodel before opening. Target has established its 180,000-square-foot Canadian headquarters in Mississauga, Ont., just west of Toronto, which is expected to open next year. With revenue of more than US$67 billion in its last fiscal year and 1,755 stores in 49 states, Target has approximately 355,000 employees and is the second biggest discount retailer in the U.S. after Wal-Mart Stores Inc.

ictoria restaurateur Terry Vassiliadis is blaming the haromized sales tax (HST) for the closing of his first franchise under the Eugene’s Greek Restaurant banner. “I haven’t given up on the dream of franchising,” Vassiliadis said, “but who would want to get into the restaurant business in B.C. when there are no profits anymore?” His only franchised location is slated to close and the two corporately owned restaurants that he and his brother own are losing money. In April 2010, 3,321 people ate at Vassiliadis’ Shellbourne Street location in Victoria and each spent an average of $13.25 before tax. This past April, 2,409 people ate at the restaurant and each spent an average of $12.54 before tax, he said. “The HST had an overnight effect,” he said. “People are holding onto their money, and they’re not coming as frequently.” Statistics Canada numbers, however, show that although British Columbians spent less on restaurant meals in each of the first three months following the new tax’s implementation, spending increased in each of the next three months compared with the previous year. According to Statistics Canada, restaurant spending in the last half of 2010 in B.C. was down about two one-hundredths of a per cent to $3.907 billion from about $3.908 billion in most recent Canadian franchise partner, the last half of 2009. Soul Restaurants Canada Inc., an affiliate of London, England-based Soul Foods Group, which has a 30-year successful track record with the KFC brand. Soul Foods Group took over the management of 204 KFC restaurants in B.C. and Ontario through its Canadian affiliates this June, after YUM! ran into financial trouble um! Restaurants with the fast-food outlets. Soul already International, Canada and its KFC operates more than 45 KFC restaurants in brand has found a new soul mate in its

DONE DEALS UÊ UÊ UÊ UÊ Ê Ê UÊ UÊ

U

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

Please forward this information directly to Frank O’Brien, Western Investor Editor at wieditor@biv.com.

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

Photo: Target Corp.

News, views and updates on Canada’s franchise industry

5BSHFU QJDLT GJSTU $BOBEJBO MPDBUJPOT

the United Kingdom. “Due to the continued decline in samestore sales during 2010 in both the KFC and Taco Bell brands the company was unable to complete the required investments in facility upgrades,” according to a Yum! statement Aly Janmohamed, president, Soul Foods Group, said an “extensive renovation and innovative new products” will be seen at its KFCs in Canada.◆ – Compiled by Kevan O’Brien

W E A R E C O M F O R T K E E P E R S®

Comfort Keepers® senior care franchise is a rare business opportunity. This leading national brand providing in-home senior care combines exceptional growth potential with both the financial and feel-good rewards unique to a business dedicated to caring for others. • Comprehensive training

• Turnkey business systems • Business coaching • Full support

• Marketing programs

• No healthcare degree required To learn more, call Wayne Maillet at 604-941-4361 or email: waynemaillet@comfortkeepers.ca

WWW.COM F O RT K E E P E R S . C A

An international network of independently owned and operated offices worldwide. ©2010 CK Franchising Inc.

B28

www.westerninvestor.com JULY 2011 WESTERN INVESTOR

Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.