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

SELF-STORAGE FACILITIES – FOR SALE Penticton, BC

sUNITS PARKING s   SFRENTABLE sACRESnTITLES s%XPANSION$EV0OTENTIAL sBEDROOMAPARTMENTON SITE s%XISTINGMANAGEMENTINPLACE

sUNITS PARKING s   SFRENTABLE s!CRES s#OMMERCIAL#OMPONENT s"EDROOM!PARTMENTON SITE s%XISTINGMANAGEMENTINPLACE

sAsking $3,550,000

sAsking $2,850,000

WE ARE YOUR SELF-STORAGE EXPERTS

KIERSkiers@naicommercial.ca OR KEN HICK KEN KIERS or KEN HICK 604-534-7974KEN 1-800-890-9855

s5PTO!CRES4OTAL s/WNERWILLSUBDIVIDETOSUIT s/FFEREDAS:ONEDAND3ERVICED s4RUCK3TOP )NDUSTRIAL #OMMERCIAL s!CCESSONTOANDOFFOF(WY s&ULL(IGHWAY&RONTAGE sAsking: Contact LIsting Broker KEN KIERS 604-534-7974 1-800-890-9855 kiers@naicommercial.ca

HOT PRICE s5NIT4OWNHOUSE3ITEs!C2- &ZONING s3ERVICESATSTREETsAsking $699,000

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

CAMPBELL HEIGHTS, SURREY LAND, BLDGS., & BUSINESS sACREPARCEL s/#0SHOWS,IGHT)NDUSTRIAL s(IGHEXPOSURECORNERSITE s(OLDINGINCOMEWITHRESRENTALS GREENHOUSEBUSINESS sAsking $2.59 Mil

HALF ACRE SERVICE COMMERCIAL LOT sClose to Wal-Mart. Only $159K

SPLIT ZONING 11.4 ACRES DEV. LAND ADJACENT TO WAL-MART & HWY 5

For Sale Gas Station

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

INDUSTRIAL FREE STANDING BLDG. 5349-273A STREET NEW PRICE

Abbotsford 5 million liters yearly sales

Prince George - $1.9 million

New franchise operations for Restaurant and Retail Stores, Merritt BC

GLEN LAMBERT 604-999-3707

9 CLASS AAA TOWER BATTLE

Giants race to build four new high-rises Gordon Wylie of Ivanhoe Cambridge: LEED platinum Metrotower III will beat downtown players to the punch

2.24 ACRES FOR DEVELOPMENT COMMERCIAL/RESIDENTIAL LANGLEY, BC $2,450,000

Sell signals flashing as investors bid up values 19 CASH FLOW WITH A COND0

Our first Investing 101 study follows a couple buying, renting and selling a condominium SPECIAL SECTION • B12

LIFESTYLE PROPERTIES

200th Street

Trailer Park Warehouse Port Kells Lease / Sale 8000 to 50,000 sq. ft. Call.

s!C$EVELOPMENT3ITE s:ONED2 HIGHDENSITYMF# SHOPCTR #OMMsAsking $2.95 Mil

s)DEALFORHOMEIMPROVEMENTSTORE SHOPPING 3 LIGHT INDUSTRIAL LOTS CENTRE MOTEL 260ARK3TORAGE sACRESEACHAmazing price $69,900 ea. s.OWONLY$3.49 MilKAC

ALFRED LEUNG 604-534-7974 CHRIS LANGHAUG

$4.29 JANUARY 2012 Vol. 27/Issue 1

12 “PRICED TO PERFECTION�

MERRITT, BC OPPORTUNITIES REDUCED $500K. PRICED TO SELL!

VANCOUVER • LOWER MAINLAND • VANCOUVER ISLAND SECTION

â–˛

Vernon, BC

Commercial/Industrial Land Highway 1 Access and Exposure Flood Hope Road, BC

Subject Property

s s s s s s

 SQFT7AREHOUSE/FlCE !CRES0AVEDLOT &INISHEDOFlCEWITHMEZZANINE (EAVY0OWER &ENCEDANDSECUREYARD %XTRA9ARDAREAn2ARE $2,415,000.00

DON MACDONALD, CCIM

604-534-7974 or 1-800-890-9855 donmac@naicommercial.ca

Highway #1 Interchange

s0RIMECORNERSOUTHOF(IGHWAYON TH3TREET s&UTUREINVESTMENTOPPORTUNITYINAN ACTIVEDEVELOPMENTAREA s/PTIONTOPURCHASEADDITIONALPARCELS TOTALINGACRES

GARY NIESNER DON MACDONALD 604-534-7974 or 1-800-890-9855

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

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

WASHINGTON INVESTORS! One-of-a kind double view lot (almost one-half acre) perched on a knoll in charming Mariners Cove, a seaside community on renown Whidbey Island. Sound, Cascade Mountain & Camano Island view. Premier boating community with private moorage at $2 per foot. 10 minutes from Oak Harbor. Seller will ďŹ nance. 249,500 U.S. funds

#ALL*EFFOR-IKE   sWWWCOPACREALESTATECOM


A2 Lower Mainland

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

CANADA`S BEST VALUE WESTWARD INN

MIXED USE DEVELOPMENT

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ERIC WALKER GREG MILES

DON DUNCAN*

ERIC WALKER

RICK EASTMAN* KEVIN VOLZ

FOR SALE - 61 ROOM HOTEL WITH RESTAURANT

STRATA UNITS FOR SALE HARBOURSIDE LANDING

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CORNER I-1 PROPERTIES EAST 6TH & ONTARIO, VANCOUVER, BC

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CHRIS DRIVER*/ BRETT AURA DON DUNCAN*

LAZY WHEEL MOBILE HOME PARK

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DON DUNCAN* CHRIS DRIVER*

ERIC WALKER

FOR SALE - NANAIMO LONG LAKE PLAZA

DEVELOPMENT OPPORTUNITY WITH INCOME

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PETER GIBSON

BILL RANDALL*

FOR SALE - CLOVERDALE MEDICAL BUILDING

86.85 ACRE DEVELOPMENT SITE NOT IN ALR

YALETOWN QUALITY OFFICES 10.18 ACRE INDUSTRIAL SITE TILBURY BUSINESS PARK PLUS WAREHOUSE

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RANDY SWANT* LEE G HESTER*

KERRISDALE RETAIL/ RESIDENTIAL BUILDING

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CRAIG HAZIZA***

6 SEPARATE LEGAL TITLES IDEAL FOR OWNER-USER OR MANNING PARK RESORT & SKI INVESTMENT OPPORTUNITY TOTALLING OVER 116 ACRES INVESTOR CENTRE

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MARK GALLAGHER

BURTON VAN ALSTINE* ROBERT STOKES

BILL RANDALL*

BURTON VAN ALSTINE* HUDGE PARMAR*

FOR SALE DOWNTOWN STRATA UNIT

MULTIFAMILY DEVELOPMENT SITE

RETAIL STRIP CENTRE PENTICTON

FOR SALE - MULTIFAMILY DEVELOPMENT SITE COURTENAY, BC

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TYLER PRIDHAM

BILL RANDALL* NOAH FREEDMAN

CHRIS NEWTON

ADAM FRIZZELL

SMALL FREESTANDING INDUSTRIAL BUILDING METROTOWN

WOOD LAKE DEVELOPMENT SITE

BURNABY MOTEL/ DEVELOPMENT SITE

FREESTANDING BUILDING IN NORTH BURNABY

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RICK EASTMAN*

MARK GALLAGHER HUDGE PARMAR*

FOR SALE - 32860 MISSION SUCCESSFUL PIZZA BUSINESS WAY, MISSION, BC FOR SALE

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BRETT AURA

KYLE WILSON SEAN UNGEMACH**

ZENITH APARTMENTS

INN ON THE WATER, SQUAMISH

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BRAD NEWMAN-BENNETT SCOTT MACPHERSON

HUDGE PARMAR* MARK GALLAGHER

BILL RANDALL*

BRAD NEWMAN-BENNETT

DON DUNCAN*/CHRIS DRIVER* BRETT AURA

DAG MEYER

RETAIL SHOPPING CENTRE INVESTMENT OPPORTUNITY

FOR SALE 65.53 ACRES, CHETWYND

FOR SALE - WILLOW CALE ROAD, PRINCE GEORGE, BC

FOR SALE 16113 20TH AVENUE SURREY, BC

FOR SALE - MIXED USE FULLY TENANTED BUILDING ON COMMERCIAL DRIVE

FOR SALE - EIGHT STRATA LOTS

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HUDGE PARMAR*

BILL RANDALL*

BILL RANDALL*

BILL RANDALL*

BOE IRAVANI MARK TREPP

50% LEASED

Moving with confidence

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

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

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

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CRAIG HAZIZA***


$0/5&/54+"/6"3: 7"/$067&3 Â… -08&3 ."*/-"/% Â… 7"/$067&3 *4-"/% 4&$5*0/

41&$*"-4&$5*0/Â…# LIFESTYLE PROPERTIES

FEATURES 9 0/5)&$07&30GGJDFCVJMEJOHDZDMFCFHJOT

On the cover Gordon Wylie of Ivanhoe Cambridge: 29-storey Metrotower III in Burnaby will be first new office tower to complete. Photo: Richard Lam

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

Four LEED office towers will trigger a tenant churn

12 $PNNFSDJBMSFBMFTUBUFPVUMPPL 



Sell signals flashing as “ridiculous prices� being paid



 #64*/&440110356/*5*&4



8 4&37*$&4 18 4&"504,:46/4)*/&  $0"453&(*0/

15 /PSUI7BODPVWFS3JTJOHUJEF 

Real estate buzzing around $8 billion shipbuilding contract Download a PDF of all our Regional Roundups online at www.westerninvestor.com

19–23 7"/$067&3*4-"/%   3&"-&45"5&

COLUMNS 6 19 21 23

2–18 -08&3."*/-"/%  3&"-&45"5&



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

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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

I N C O M E I N V E S T M E N T $2,400,000 - 9,936 +/- Retail Office. Located at controlled intersection across the street from major shopping center including Haggen Grocery. In the area of the Fred Meyer Shopping Center. I N D U S T R I A L WA R E H O U S E $3,000,000 - Prime location and excellent visibility from Interstate 5. 32,000 SF warehouse with 22’ center height. 3,200 SF enclosed insulated lean-to with dock high door and 5,000 SF office. 30 x 621 storage mezzanine. Excellent condition inside and out. 159 ACRES

- B E R R Y L A N D $1,600,000 - Excellent land for berries and includes 3 bedroom, 2 bath home.

Seller will consider financing to qualified buyers.

For more information, call our office.

RON BENNETT COMMERCIAL REAL ESTATE Ron Bennett

SUTTON GROUP WEST COAST REALTY

(USN Ret.)

CALL

/ Owner - Broker

604-817-7338

Don Munro

ACREAGES LANGLEY 6842 202B Ave & 6868 202B Ave s0RIME4OWNHOUSE$EVELOPMENT3ITE s$ESIGNATED  50!WITHUNDERGROUND ORSTRUCTUREDPARKING s%XCELLENT6IEW0ROPERTYCLOSETOALL!MENITIES

27449 60th Avenue s!CRE0ARCEL s,ARGE#OUNTRY(OMEWITH(ELPER3UITE s%ASY!CCESSTO4RANS#ANADA(IGHWAYAT TH3TREET%XCHANGE s&UTURE0OTENTIAL

48th Avenue & 216th Street s!CRESTWOPARCELS s0OSSIBLE&UTURE0OTENTIAL

27691 Downes Road s!CRESs0OTENTIAL"ERRY,AND s,ARGE3HOP"ARN3TORAGE

"BUSISAVEHICLETHATRUNSTWICEAS FASTWHENYOUAREAFTERITASWHEN YOUAREINIT

✓ VALUE FOR $

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

ACREAGES

ACREAGES

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

s !CRESIN#AMPBELL(EIGHTS s $ESIGNATED"USINESS/FlCE0ARK *':065)*/,/0#0%:$"3&4*':06s3&"-*7&  53:.*44*/("$061-&0'1":.&/54

51140 Ruddock Road s !CRESs0OTENTIALFOR,OTS

s&ULLY&ENCED!CRES s-OBILE 3MALL(OMEAND,ARGE"ARN s#LOSETO4RANS#ANADA(IGHWAY

LANGLEY 203-20771 Langley Bypass

700 Columbia Valley Road s !CRESs0RIME&ARM,AND s"UILDYOURDREAMHOMEHERE

256th Street & 48th Avenue s!CRESINA'REATLOCATION s"EAUTIFULCLEARED LEVELBUILDINGSITE s )MAGINETHELUXURYOFPLANNINGYOURDREAM FROMSCRATCHVSCOMPROMISEDBYEXISTINGDETAIL s:ONED25 

7700 240th Street s!CREPANHANDLEDSHAPEDLOT s,ARGE   SQFT BDROOMRANCHER s   SQFT BDRMBASEMENTSUITE s2ELAXINCOMFORTWITHJETTEDTUBSBOTH UPSTAIRSANDDOWNSTAIRS s%ASTFACINGYARDs2ECENTLY2EMODELLED

✓ GOOD RETURN

19518 32nd Avenue

s !CRESs LOGHOME LARGESHOP s0RIVATELOCATION

27571 60th Avenue

s !CRESs&UTURE0OTENTIAL

COMMERCIAL/INDUSTRIAL

CHILLIWACK 7640 Nixon Road

889 Lefeuvre Road

SURREY 188th Street and 80th Avenue

botsold@intergate.ca

COMMERCIAL/INDUSTRIAL "BUSISAVEHICLETHATRUNSTWICEASFAST WHENYOUAREAFTERITASWHENYOUAREINIT

WHITE ROCK 1328 Johnston Road s   SQFTCOMMERCIALBUILDING s SQFTLOT s:ONED#3 n3ERVICE#OMMERCIAL:ONE

SURREY 11151 Bolivar St & 13340 112 Ave s !CRESONCORNER s :ONED#()(IGHWAY#OMMERCIAL

✓ TENANT COVENANT

s   SQFTCOMMERCIALSTRATA s&ULLYLEASED s%XCELLENT)NVESTMENT0ROPERTY

CHILLIWACK 8495 Aitken Rd, 8565 Aitken Rd & 8579 Aitken Rd s  ACRE)NDUSTRIAL6ACANT,OTS s :ONED-3ERVICE)NDUSTRIAL s0ERFECTFORSMALLBUSINESSES

8558 Chilliwack Mountain Road s ACRE6ACANT)NDUSTRIAL,OT s :ONED-'ENERAL)NDUSTRIAL - (EAVY)NDUSTRIAL s ,EVELLOTWITHACOMPACTEDGRAVELBASE s 'REAT,OCATION'REAT0RICE 5)&40-&163104&0'"$)*-%s4.*%%-&/".& *4 40)&$"/5&--8)&/)&s43&"--:*/5306#-&

✓ UPSIDE

✓ CAREFREE


A4 Lower Mainland

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

COMMERCIAL BUILDING Very well maintained building Fraser Valley, 6 cap. Only $1,350,000

LIMITED SERVICE HOTEL

Macdonald Commercial Real Estate Services Ltd.

COMMERCIAL INVESTMENTS Vancouver; hotel; shopping centre site townhouse dev. site; mixed use commercial building/residential; New West; 120+ townhouse dev.site, Port Moody: strip mall, Langley; Motel; serv. station/con. Store; townhouse dev. site, Surrey: Central City comm’l. dev site, et.

FOR SALE

NEW BRUNSWICK - CANADA

CAP RATE: 15-20% with a NOI up to close to $ 500,000

VANCOUVER PROPERTIES | BOB SCRAGG FOR SALE: WAREHOUSE/SHOWROOM/OFFICE 1275 W. 75 th Ave, Vancouver

FOR SALE: INDUSTRIAL STRATA UNITS 3075 Willow, Vancouver

Serious buyers looking for quality properties invited to call. Non-disclosure agreement to sign.

RAY LEWIS

WWW.REALESTATE-CANADA.CA West Coast Realty LANGLEY

604-812-9733

INDUSTRIAL STRATA UNITS, SURREY:

Central location 3 units available 1,400 to 1,650 sq. ft. Total 4,100 sq. ft. $275,000 each

• • •

FOR SALE ED. LEAS TAILS E B MAY L FOR DE CAL

BOB SCRAGG | 604.290.2906

81,260 sq.ft. R&D

• •

• •

8369 RIVER WAY, VANCOUVER:

Warehouse/Showroom/Office ½ acre, upper office 1,000 sq. ft. main office/showroom 1,500 sq. ft. warehouse 6,000 sq. ft. Easy access to New South Fraser Perimeter road & HWY 99 List Price: $1,350,000

FOR SALE: 102 ACRES PRINCE GEORGE Designated - Residential & Commercial Services available • Super investment • Gravel opportunity while holding • $3,000,000 • •

1521 WEST 4TH AVE

BUILDING AT UBC

Corner lot of 5,650 sq ft. Cash business included

Kris Pope

3800 Wesbrook Mall provides an excellent environment that will support and enhance the intellectual and social development goals of companies involved in R&D. Laboratories, offi ces, teaching, training, and conference facilities, in support of research and development in a number of key areas. OFFERS

604-318-5226

Larry Traverence 604-787-7654

FOR SALE

FOR LEASE 725 Eaton Way

$2,619,000 * Stage 2 Completed * Call Larry Traverence

604-787-7654

1028 HAMILTON STREET

BOB SCRAGG 604.290.2906

bscragg@macrealty.com

RARE GOLF COURSE OPPORTUNITY FOR SALE | ERIC POON & KELVIN LUK Championship Golf Course with Hotel/Resort Potential, Vancouver Island Par 72, 6616 yards, 18 holes Championship Golf Course on 159 Acres 12,000 sq. ft. club house with pro-shop, restaurant, lounge and banquet facilities Full size driving range and large practice facilities Preliminary plans for a 200 rooms hotel and convention centre • 8,000 sq. ft. custom built home PRICE REDUCED • • • • •

CONTACT: ERIC POON / KELVIN LUK | 604.736.5611

4 storey plus basement 30,000 sq ft

Approx 9,200 sq ft warehouse with approx 3,800 sq ft office space. Attractive rates.

Asking $16,999,000

Larry or Kris 604-689-8226

FOR SALE: KITSILANO INVESTMENT | ERIC POON • 2 commercial units & 2 residential units / 3,342 sq. ft./ C-2 zoned site •

Dexter Associates Realty Commercial Real Estate, Your Trusted Advisors

COURT ORDERED SALES | BRIAN TATTRIE & GARY KHAN •

RPM REALTY

FOR SALE OR FOR LEASE Address: Unit 103 (958 sq. ft.) & 104 (721 sq. ft.) - 7777 Royal Oak Price: $439,000 for Unit 103 & $329,000.00 for Unit 104 2 strata commercial retail units available in“The Sevens” in a new multi family development on Royal Oak located in South Burnaby. Close to SkyTrain. Zoned C-9. Also available for Lease at $25 net per sq.ft plus operating costs and taxes estimated at $12 per sq.ft. per year for 2012. Contact Paul Oteman or Holly Kingan FOR SALE: Skyline Apartments Address: 1365 Burnaby Street, Vancouver Area: 6,552 sq.ft. Net Income: contact listing broker Price: $2,700,000 The Skyline Apartments is a fully leased 9-suite multi-family apartment block located in Vancouver’s West End. The frontage on Burnaby Street is 50 feet on and the depth is 131 ft. Contact Dan Schulz FOR SALE: The Afton Apartments Address: 2045 Maple Street, Vancouver, BC Net Income: $119,112.70 Price: $3,288,000 The Afton Apartments is a well maintained 14 unit rental apartment building situated in popular Kitsilano featuring large, bright fully rented suites. Contact Dan Schulz

FOR LEASE - Office/Retail Address: 990 West 7th Avenue Area: 3,641 sq.ft. space can be demised as small as approx. 1,500 sq.ft. Base rent $20 psf + $6.71 operating costs and taxes. Additional Rent. Located in the Broadway Corridor on the SE corner of West 7th Avenue and Oak Street. Suite 101 is located on the north side of the building on the ground floor. Open area with new laminate flooring, private washroom and lots of storage space. Contact Holly Kingan FOR LEASE - Assembly Zoned Address: 549 Howe Street Area: 7,887 sq.ft. Asking: $20 net per sq.ft. per year plus $13.91 per sq.ft. per year operating expenses. Available immediately Located in the financial district of Downtown Vancouver on Howe Street between W. Pender and Dunsmuir St. Assembly zoned space. Fully built out with 17 classrooms, 2 kitchens, lounge, 2 offices, storage room and open area. Contact Paul Oteman or Holly Kingan FOR LEASE - Yaletown Office Space Address: 400 – 1152 Mainland St. Area: 4,100 rentable sq.ft. available on the top floor. Asking $25 net per sq.ft. per year plus $12.50 per year operating expenses and taxes. Occupancy: January 2012 Located in the heart of Yaletown beside the Canada Line Station. Brick and Timber finishes with high ceilings and heritage opening windows. Fully built out with 6 offices, kitchen, boardroom and open area. Fantastic office space in a great location. Contact Paul Oteman or Holly Kingan

20 Acres designated Business Park. Excellent access/egress to and from all parts of Metro Vancouver & close to amenities. / List Price: $10,880,000 CONTACT: CHRIS MIDMORE/ BRIAN BARBER/ MATT NUGENT | 604.736.5611

“We are focused on achieving the results YOU want.”

604.684.8291 admin@rpmrealty.ca www.rpmrealty.ca

CONTACT: ERIC POON | 604.736.5611

FOR SALE: CAMPBELL HEIGHTS | CHRIS MIDMORE, BRIAN BARBER, MATT NUGENT •

RPM Realty Ltd United Kingdom Building 459 - 409 Granville St. Vancouver, BC, V6C 1T2

List Price: $1.7M

2 retail strata units, Langley: $499,000 REDUCED: $469,000 Office Building, New Westminster List Price: $1,200,000 SOLD CONTACT: BRIAN TATTRIE - 604.714.4783 | GARY KHAN - 604.714.4799

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

Land, building & business for sale. Approx. 10 acres in ALR. List Price: $1,650,000 REDUCED: $1,585,000 GARY KHAN | 604.714.4799

FOR SALE: LITTLE MOUNTAIN CHILLIWACK - 59 Lot Subdivision | GARY KHAN • •

59 lot subdivision / Little Mountain Chilliwack List Price: $4.5M CONTACT: GARY KHAN | 604.714.4799

FOR SALE: NIGHT CLUB LIQUOR PRIMARY LICENCE | JOHN SULLIVAN •

376 Seats licence seldom available / Price: $750,000 REDUCED: $600,000 CONTACT: JOHN SULLIVAN | jsullivan@macrealty.com

FOR SALE: GASTOWN NIGHT CLUB | JOHN SULLIVAN •

397 Seats - established over 20 years. Excellent Long Term Lease

List Price: $750,000

CONTACT: JOHN SULLIVAN |604.714.4773

more listings available www.macdonaldcommercial.com Vancouver 604.736.5611 Fraser Valley 604.590.4444 commercial@macrealty.com Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.


Lower Mainland A5

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

APARTMENT BUILDING SPECIALIST CHILLIWACK

NEW WESTMINSTER

CLOVERDALE

11 Strata Title Town homes Immaculate buildings & grounds Gross Income $84,076

28 Unit Apartment Building Great Tenant Base Gross Income $238,408

36 Unit Apartment Building Large, bright suites. Gross Income $331,942

NEW WESTMINSTER

BURNABY

EAST VANCOUVER 11 Units – fully tenanted Close to all amenities Gross Income $113,967

21 Unit Apartment Building Completely Renovated, Views Gross Income $235,885

48 Unit Apartment Building Near Metrotown & Skytrain Gross Income $513,107

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

604.263.2823

PRIME DEVELOPMENT SITE

INDUSTRIAL SALE

FOR SALE

OFFICE/WAREHOUSE SALE

INDUSTRIAL SALE

1396 Richards Street, Vancouver 30,000 sq ft lot, 2/3 of a city block DD-L1 zoning 150,000 sq ft buildable density Operating business included with sale

117 West 5th Avenue, Vancouver 9,076 sq ft building on 74’ x 122’ lot 'RADELOADINGs(EAVYPOWER CLEARCEILINGHEIGHTsAir-conditioned OFFICESs6ACANTPOSSESSION

42 West 8th Avenue, Vancouver 8,531 sq ft 3-storey freestanding building Owner/user opportunity with income 2 dock level loading doors Ample parking

120–122 West 8th Avenue, Vancouver 6,243 sq ft freestanding building Spectacular views Secured underground parking

Tom Bakker, James Bayley

Conor Finucane

Ryan Saunders, Mitch Ellis

Ryan Saunders, Mitch Ellis, Conor Finucane

1523 East Pender Street, Vancouver 3,653 sq ft warehouse/office building ONXLOTs&ULLYFINISHED CEILINGHEIGHTs'RADELEVELLOADING Enclosed secured parking

INVESTMENT BUILDING

LOT FOR SALE

STRATA OFFICE SALE/LEASE

INDUSTRIAL SALE/LEASE

Mitch Ellis, Ryan Saunders

Pr ic e

Re du ce d

INVESTMENT OPPORTUNITY

Hume Ave

1205 Nanaimo Street, Vancouver XLOTs# :ONING Corner of Nanaimo and William Streets &ULLY,EASEDs!SKING 

1186 Granville Street, Vancouver 3,000 sq ft development site &32s0ARKINGINCOME (IGHEXPOSURELOCATION

James Bayley, Tom Bakker, Meghan Kennedy

James Bayley, Tom Bakker, Meghan Kennedy

INDUSTRIAL SALE

STRATA UNIT FOR SALE

205 - 1742 West 2nd Avenue, Vancouver 1,039 sq ft fully improved office space /PENAREAs+ITCHENETTEs(IGHCEILINGS (ARDWOODFLOORSs/PENINGWINDOWS Private storage

101 - 8988 Fraserton Court, Burnaby 2,126 sq ft flex strata unit Modern tilt-up construction Rear grade level loading Signage opportunity

7464 Hume Avenue, Delta 20,884 sq ft facility 0.92 acres of land Fully leased Single tenant

Jason Marriott

Phil Gibbons, Steve Caldwell

Anthony Lux, Casey Bell

INDUSTRIAL LAND FOR SALE

DEVELOPMENT SITE

COMMERCIAL REDEVELOPMENT

George Blvd King

116 Ave

2231 Vauxhall Place, Richmond 13,638 sq ft freestanding building on 0.65 acres Concrete tilt-up construction 3 grade level loading doors (IGHCEILINGSs2 floor office build-out

21320 Westminster Hwy, Richmond 3,005 sq ft fully leased industrial strata unit Grade loadingsAssigned parking Approx 19’ clear ceiling height Lease expires February 28, 2015

12829 116th Street, Surrey Three parcels totalling 1.494 acres Prime exposure site Bordering SFPR Proximity to Surrey’s new city centre

13061 King George Boulevard, Surrey 5.34 acre site Residential/Industrial per OCP Between Scott Road & Gateway stations Asking $3,995,0000

904 & 918–990 Victoria Street, Kamloops 2 buildings on 9 lots totalling 1.377 acres Total building area 88,000 sq ft Existing holding income Asking price $1,995,000

Casey Bell, Anthony Lux

Casey Bell, Anthony Lux

Rand Thomson, Sebastian Espinosa

Rand Thomson, Sebastian Espinosa

Steve Caldwell, Murray Wills

For more information on our available properties and range of commercial real estate services please contact us today. Tel: (604) 684 7117

www.dtzvancouver.com

Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent veriďŹ cation. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 01/2012.


A6 Lower Mainland

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

.FEJBNBOJQVMBUJPOUSVNQTFDPOPNJDSFBMJUZ

$

anada needs the northern B.C. and Alberta Gateway pipeline that will smooth shipments of our oil to China and the rest of Asia. It is part of our national destiny, as important today as the St. Lawrence Seaway once was to the prosperity of the country. Enbridge Inc.’s Northern Gateway pipeline would run from the Alberta oilsands to the B.C. port at Kitimat, where millions of barrels of oil would be pumped into double-hulled tankers that would ship to the second largest economy in the world. The pipeline is even more important now to Canada after the Keystone XL pipeline into the U.S. was shelved by President Barack Obama until after the next U.S. election. Even then, protests against Keystone may keep it stalled for years. Which is why a naïve 10-year-old girl from the Sliammon First Nation in North Vancouver should be striking fear into proponents of Canada’s Gateway. If you haven’t heard of Ta’Kaiya Blaney, you soon will. The young activist has written and performed a song against the Gateway project. Her video has gone viral on

the Internet and every anti-Gateway group is clamouring to get in front of her fame. Blaney is suddenly a poster girl for Greenpeace, a keynote speaker for native groups and has been invited to address the United Nations. When she and her mother went to the Enbridge’s offices in Vancouver to present a protest against oil tankers, security guards stopped her from entering the building. It looked great on TV and terrible for Enbridge public relations. But, you say, the Gateway project will transform northern B.C. with jobs and investment and it will help secure Canada’s energy future. Surely a cute media image can’t derail that? Think again. This is the era of media manipulation and spineless politics. In the U.S., where Keystone was the kind of shovel-ready job generator the nation desperately needs, it was online protests that likely convinced a vote-shy president to stop it. It was images of an albino bear that created the myth of the Great Bear Rainforest and stopped logging in one of B.C.’s s most productive forest areas. It was a cute baby seal that sparked an international outcry against Canada’s seal industry.

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

Golden, BC – 101 pads, 13 acres ...........5,900,000 North Battleford, SK – 60 pads, 10.9 ac .2,700,000 Invermere, BC – 31.48 acres, MHP site. 1,900,000 Kindersley, SK – 51 pads, 4.0 acres .......1,400,000 Radium, BC – 9.77 acres, Cml Hwy Frtg ....900,000 Quesnel, BC – 30 pads, 9.25 acres ...........625,000 Cherryville, BC – 25 pads, 22 acres ..........685,000 Ashcroft, BC – 8 pads, 0.64 acres ..............369,000 Houston, BC – MH & RV Park, 40 ac+/- ....299,000 604-302-3771 or TF: 1-888-251-2822 Fax: 1-888-804-1394 Email: hjesse@mobileparks.com

Homelife Glenayre Realty www.mobileparks.com

M I S S I O N FOR SALE or LEASE NON-STRATA BUILDING WITH SECURE OUTDOOR PARKING / STORAGE Main Floor 2,955 sqft, Mezzanine 1,550 sqft Nice Offices with River View. Building sits on 2 Lots with 3rd Lot vacant. Located in proposed Mission Waterfront Development Area. Buy $625,000 or Lease $3,200/month. 3.879 ACRES INDUSTRIAL ZONED LAND, High profile Mission location. Some fisheries covenant, preliminary plans for 46,156 sq ft Building $1,390,000. 6.3 ACRES MISSION, OCP shows Urban / Compact / Multifamily Zone, Close to Schools and Park. Some fisheries covenants, $1,600,000. 165' X 122' LOT MISSION, OCP shows Core Commercial Zone. Includes 3 Bedroom Rental Home with Excellent Exposure to Lougheed, $384,000.

Call LANCE HILL 604-826-2699 lancehill@shaw.ca

ICI Commercial

HOMELIFE GLENAYRE REALTY

GAS STATION – LAND & BUILDING .6 ACRE LAND. OVER 4,000 SQ FT BUILDING AND 2 ROAD FRONTAGE. FIBERGLASS TANKS. EXCELLENT GROSS & NET PROFITS. $2.9 MIL FRASER VALLEY GAS STATION, C-STORE, LIQUOR STORE, PIZZA SHOP, 4 BDRM LIVING ACCOMMODATION UPSTAIRS (BUSINESS ONLY) PRICE: ONLY $219,000 OR BUSINESS W/LAND & BUILDING $1.65M GAS STATION WITH LAND AND BUILDING (FRASER VALLEY) $1.8 MIL GAS STATION WITH LAND & BUILDING $2.8 MIL OVER 1.5 MIL IN STORE SALES. GAS: OVER 3MIL LITRES. NEW TANK AND PUMP. EXCELLENT GROSS PROFITS AND NET INCOME GAS STATION WITH LAND & BUILDING OVER 8 ACRES OF LAND. C-STORE, RESTAURANT, HOUSE. ON HWY 1 HOUSE ON 4 ACRES ZONED FOR MOBILE HOME PARK $399,000 MORE DETAILS CALL:

And it was oily ducks that helped convince delegates to a recent South African environmental conference that Alberta’s oilfields are the planet’s biggest polluter. The experts all know that the Alberta oilsands represent a mere 1 per cent of global gas emissions, but images now trump reality. The federal government hearings into the Northern Gateway pipeline begin this month and will likely last all year. You will be seeing a lot of Ta’Kaiya Blaney. Just remember that, cute, smart and talented as she is, Canada needs to export oil and the Gateway pipeline is the best option we’ve got.

/&95.0/5) Western Investor spends time in the retail sector and looks at the growing number of major mall renovations as U.S. retailers roll in. We feature an exclusive interview with Alberta’s most savvy landlord. We hear from experts on investor tax strategies and our regional reporters file from Calgary, Dauphin, Kamloops and Regina. Plus we present the latest news and commentary for western investors. FRANK O’BRIEN

ADVERTISING DEADLINE FEBRUARY 2012 issue: January 16, 2012

EDITOR wieditor@biv.com

LIQUOR STORES, PUBS, HOTELS/MOTELS NANAIMO ROAD HOUSE & LIQUOR STORE – $1,050,000 2½ acres. Land & buildings. Asset sale. Includes 2 suites. PRICED TO SELL VENDOR FINANCING 0.A.C. NEW WESTMINSTER PUB & LIQUOR STORE $2,950,000 (SHARE SALE). SURREY PUB & LIQUOR STORE – Money maker. $2,000,000 SHARE SALE.

Hurry!

QUEENSBOROUGH DEVELOPMENT PROPERTY – Cleared land, approx 34,000 sq ft – zoned commercial/residential. 3 PROPERTIES - $1,600,000 PUB IN BUSY SHOPPING CENTRE - PRICED BELOW REPLACEMENT COST. GREAT TERMS. QUICK POSSESSION. VANCOUVER ISLAND PUB & LIQUOR STORE GROSSING $3.6 MILLION. ASKING $1,900,000 FOR SHARES. NEIGHBOURHOOD LIQUOR STORES - PUBS - HOTELS - RESTAURANTS IF WE DON’T HAVE IT LISTED WE WILL FIND IT FOR YOU! MANY NEIGHBORHOOD PUBS IN ALL PRICE RANGES NOW AVAILABLE.

PAMMI MANDAIR CELL: 604-825-8121 OFFICE: 604-859-3141 pammimandair@gmail.com www.pammimandair.ca

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

BARRY BOCK / DON KAYTOR 604-575-5262

604-599-9287

Fax (604) 575-2214 Email: barry_bock@telus.net GLENAYRE REALTY

HOMELIFE BENCHMARK TITUS REALTY

www.barrybock.com

www.homelifebc.com


Lower Mainland A7

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

Vancouver Office 604 687 7331 s

s

For more information visit our website

www.avisonyoung.com

FEATURED LISTING FOR LEASE – Merchant Square, 1 Eighth Street (@ Columbia St), New Westminster s0REMIER SF#LASS!OFlCE SPACE MID COMPLETION s,%%$'OLD ENERGYEFlCIENTOFlCEBUILDING WITHLARGEmEXIBLEmOORPLATES s!DJACENT.EW7ESTMINSTER3KY4RAIN STATION s0ARTOFTHE#ITYSNEW#IVIC#ENTRE $EVELOPMENT s!BUNDANTPARKINGAMENITIES s3PECTACULARVIEWS

%BSSFMM)VSTU

FOR SALE – Dollarton Business Park - 197 Forester Street, North Vancouver s"RANDNEWSTOREYSTRATA OFlCEmEXINDUSTRIALBUILDING s,OCATEDIN.ORTH 6ANCOUVERgSFASTESTGROWING COMMERCIALHUB s5NITSIZESFROMAPPROX SF  SF FULLmOOR 5FSSZ5IJFT*BO8IJUDIFMP FOR SUBLEASE – 200 – 2050 Hartley Avenue, Coquitlam s SF s%XCELLENTEXPOSURE s!MPLEPARKING .BUU5IPNBT,ZMF#MZUI FOR SALE – 1496 Rupert Street, North Vancouver s#OMMERCIALBUILDINGWITHBEDROOMPENTHOUSE APARTMENT s,OCATEDONTHECORNEROF-OUNTAIN(IGHWAY2UPERT 3TREET s   .BUU5IPNBT,ZMF#MZUI

FOR SALE – Unit 106 - 2567 192 Street, Surrey

PR

ICE

D RE

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ED

s#OURTORDEREDSALE s&RONTEXPOSURETO3TsDOCKLOADINGDOORS s SFOF7AREHOUSE/FlCESPACE s    +PIO&BLJO.JDIBFM'BSSFMM

FOR LEASE – Brewery District s0RIME/FlCESPACEWITHLARGEmEXIBLEmOORPLATES s,OCATEDAT3APPERTON3KY4RAINSTATION s/VERMILLIONSFOF2ETAIL #OMMERCIAL HEALTHRESIDENTIAL s1/CCUPANCY #JMM&MMJPUU%BSSFMM)VSTU FOR SUBLEASE - 10387 Nordel Court, Delta s!CRES s SF/FlCE7AREHOUSE s#ENTRALLOCATION

%PVHMBT-.D.VSSBZ3ZBO,FSS SOLD – Burns Lake Apartment Portfolio

LD O S

s"UILDINGSnSUITESTOTAL FULLYOCCUPIED s#AP2ATEONACTUALINCOME sTOTALACRES s    QFSTVJUF

$ISJT8JFTFS FOR LEASE – 112 West Hastings Street, Vancouver s&ULLY RESTOREDHERITAGERETAILSPACE s,ARGE OPENmOORPLAN ORIGINALBRICKFEATUREWALLS HIGHCEILINGS s)DEALSPACEFORFASHION GALLERY ORRESTAURANTUSERS s SFPLUSSFMEZZANINE

+BNFT4IBOESP*BO8IJUDIFMP FOR LEASE – 4738 & 4750 Main Street, Vancouver s!PPROX  SFAVAILABLE CANALSOBE COMBINEDFOR SFs#ONVENIENT-AIN3TREETLOCATION s&ULLYRENOVATEDINTERIORANDSTOREFRONTSANDBRANDNEW BUILDINGFAÎADE s!REATENANTSINCLUDE#)"# 2EXALL .ESTERS-ARKET "# ,IQUOR3TORE ANDMANYMORE +BNFT4IBOESP

FOR SALE – 1027 Ryan Road, Courtenay sRENTALUNITS sACRES s%XCELLENTASSUMABLElNANCING

3PC(SFFS$ISJT8JFTFS FOR SALE – Abbotsford Industrial Land s 2ARESERVICEDLAND s :ONED)NDUSTRIAL#OMMERCIAL s   ANDACRESITES s TOACRESITES s ,OCATEDAT-T,EHMAN2D "ROOKSIDE!VE s  MTO4RANS #ANADA(WY .JDIBFM'BSSFMM+PIO&BLJO HIGH EXPOSURE RETAIL INVESTMENT OPPORTUNITY 689 Denman Street, Vancouver s(IGHENDCORNERBUILDINGON$ENMAN3T7'EORGIA3T s$IRECTDAILYEXPOSURETO  VEHICLES s RESIDENTSWITHINKMRADIUS s"USYPEDESTRIANCORRIDORNEARENTRANCETO3TANLEY0ARK

3PC(SFFS.BSL)BOOBI FOR SALE - 2342 Windsor Street, Abbotsford s %XCELLENTUSERINVESTMENTOPPORTUNITY D SE A s SFSPACEAVAILABLEWITHYARD LE % s.EWLYLANDSCAPEDANDRENOVATED 40 s    +PIO&BLJO.JDIBFM'BSSFMM FOR SALE – 9532 194A Street, Surrey sACRELOTWITH SFBUILDING sTONCRANEHEAVYPOWER •    +PIO&BLJO.JDIBFM'BSSFMM FOR SALE – 9781 186th Street, Surrey sACRESINPRIME0ORT+ELLSLOCATION s ,IGHT)NDUSTRIALZONING s/UTSIDESTORAGEPERMITTED +PIO&BLJO.JDIBFM'BSSFMM s    FOR LEASE – 11125 124th Street, Surrey s SF&LEX/FlCE3PACEFOR,EASE$EMISABLE  s%XCELLENTVISIBILITYTO+ING'EORGE"OULEVARD s!CROSSTHESTREETFROMTHE3COTT2OAD3KY4RAIN STATION %BSSFMM)VSTU(MFOO(BSEOFS FOR SALE – 2021-2025 St. John's Street, Port Moody s#OMMERCIAL-IXED 5SE$EVELOPMENT3ITE s(IGHLYVISIBLETWO ACRECORNERSITE s,OCATEDALONGTHE%VERGREEN,INE#ORRIDOR 1BUSJDJB-JECFUUFS3PCFSU(SJUUFO Under Contract – 1180 Esquimalt Rd, Victoria sUNITS s3ENIORSBUILDING s%XCELLENTIMPROVEMENTS s"ELOWMARKETRENTS $ISJT8JFTFS3PC(SFFS FOR SALE/LEASE – 1455-1475 East Georgia Street, Vancouver s n SFOF/FlCE7AREHOUSEAVAILABLE D CE U s) ,IGHT)NDUSTRIALZONING D RE E C s$OCKAND'RADELOADING I PR s   +PIO-FDLZ4USVBO4BEEMFS Avison Young Commercial Real Estate (B.C.) Inc.


A8 Lower Mainland/Services COMMERCIAL MORTGAGES

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

Roaron Construction

ALSO: Industrial, Multi-Residential & Construction

“Your One Stop Shop�

LEAKY CONDO FINANCING

sSUBDIVISIONCONSTRUCTION sBUILDINGENVELOPE sCONCRETEASPHALTSEALING sSTRUCTURALREPAIR sROOlNGWATERPROOlNG sPARKINGLOTSPARKADES

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BUSINESS LOANS Acquisitions, Expansion, Equipment & A/R

604-552-4392

604-888-7818

Call Now or Email roger@roaron.com

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" ,      FOR ALL TYPES OF COMMERCIAL PROPERTY:

UĂŠÂŤ>Ă€ĂŒÂ“iÂ˜ĂŒĂŠLĂ•ÂˆÂ?`ˆ˜}Ăƒ UĂŠˆĂ?i`Â‡Ă•Ăƒi UĂŠ-ĂŒĂ€>ĂŒ>ĂŠĂ€iĂŒ>ˆÂ? UĂŠÂœĂŒiÂ?Ă‰Â“ÂœĂŒiÂ? UĂŠ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ĂŠĂœ>Ă€iÂ…ÂœĂ•Ăƒi UĂŠ ÂœÂ˜ĂƒĂŒĂ€Ă•VĂŒÂˆÂœÂ˜Ă‰`iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒ >ĂƒĂŒĂŠÂŤÂŤĂ€ÂœĂ›>Â?ĂŠUĂŠ*Ă•Ă€VÂ…>ĂƒiĂŠÂœĂ€ĂŠ,iw˜>˜Vi The Origin Group — Mike Lee

604-565-6370

1-877-848-6370

michaellee@origingroup.ca

HOME AND AUTOMOTIVE BUSINESS on private subdividable 4.5 acres. UĂŠÂœV>ĂŒi`ĂŠÂˆÂ˜ĂŠĂŒÂ…iĂŠ Ă€>ĂƒiÀÊ6>Â?Â?iĂž]ĂŠ ĂŠ £°xĂŠÂ…ÂœĂ•Ă€ĂƒĂŠvĂ€ÂœÂ“ĂŠ 6>˜VÂœĂ•Ă›iÀ° UĂŠĂŽ]Ă¤Ă¤Ă¤ĂŠĂƒÂľÂ°vĂŒÂ°ĂŠ{ĂŠ Li`Ă€ÂœÂœÂ“ĂŠÂ…ÂœÂ“i]ĂŠ ĂŠ ÂŁ]nĂ¤Ă¤ĂŠĂƒÂľÂ°vĂŒÂ°ĂŠÂŤĂ€ÂœviĂƒĂƒÂˆÂœÂ˜>Â?ĂŠĂŠ >Ă•ĂŒÂœÂ“ÂœĂŒÂˆĂ›iĂŠĂƒÂ…ÂœÂŤĂŠÂ­Â…i>ĂŒi`ĂŠEĂŠÂˆÂ˜ĂƒĂ•Â?>ĂŒi`Ž°

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MORTGAGE FINANCING www.peoplestrust.com PRAIRIE REGION

BRITISH COLUMBIA REGION

Dennis K. Aitken 403-205-8203

Brian D. Kennedy 604-331-2211

PRAIRIE REGION

BRITISH COLUMBIA REGION

Daniel Stewart 403-205-8202

Jonathan P. Wong 604-331-2218

Ray Veenbaas 0257

LITTLE OAK REALTY 604 309

Call Ray or Richard for all of your Real Estate Needs! email us at richardtherealtor@hotmail.com

"All ofďŹ ces independently owned and operated"

1-800-668-8661

RichardRiemersma 604 309 8541

RESIDENTIAL, COMMERCIAL, INVESTMENT & AGRICULTURE

INVESTMENT & REVENUE NEW WESTMINSTER STORE FRONT Retail close to Royal Columbian Hospital ($32,000/Annual Net Inc) Asking $559,900 STAND-ALONE RESTAURANT Building with proďŹ table Asian Food tenant. Completely updated Asking $827,777 MULTI-TENANT BUILDING (11 TENANTS) Yielding $120,000 Fully Net Income Asking $2,425,000 (Principals only)

FEATURED PROPERTY

7% CAP!!!

Little Oak Realty

BUSINESS OPPORTUNITIES Wee Chippie Fish & Chips In business for 23 years

$125,000

MULTI-TENANT OFFICE BUILDING

Steak & Seafood Restaurant $189,900

Specializing in small ofďŹ ce spaces from 250 – 750 sf ALWAYS FULL! $69,000 Fully Net Income

Thai Restaurant – Most popular in town $188,888

Asking $988,000

Full Service Catering Kitchen w/ industrial cafĂŠ $599,000

DEVELOPMENT SITE

SMALL WAREHOUSES

98 UNIT MULTI-FAMILY SITE Close to shopping centres, hospital, recreation and lake side walking trails Asking $2,900,000

730 sf (secure, gated) $129,900 1063 sf + 450 sf mezz. $179,900 2,000 sf, it’s a best buy today with longterm redevelopment opp. $224,900

TF 1-800-668-8661

Franchise Restaurant (Includes 12,000 sf Banquet Facility) $425,000

#9–2630 Bourquin W., Abbotsford

"EACH OFFICE INDEPENDENTLY OWNED & OPERATED"


A9

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

COVER Ivanhoe Cambridge speculates on Burnaby highrise beating downtown developers to the punch

$MBTT"""CBUUMF PETER MITHAM/FRANK O’BRIEN WESTERN INVESTOR fter a five-year hiatus the rush is back on to complete the first major office tower in Metro Vancouver – and the edge is apparently held by Ivanhoe Cambridge.

#VSSBSEBNPOHNPTU DPTUMZPGGJDFTUSFFUT Photo: Richard Lam

Last month, the Toronto-based development firm announced that its Metrotower III will be the first Class AAA office tower in Metro to be completed since 2007. The $170 million building’s completion is scheduled for April 2014. “We have a one-year lead on the downtown projects,” said Gordon Wylie, development manager for Ivanhoe Cambridge. Wylie is referring to triple-A towers by Oxford Properties, Bentall Kennedy and Telus, all of which are expected to complete by 2015 in the downtown core. Wylie said Metrotower III, which was started and then stopped at the parking-level stage as the recession hit in 2008, is well placed to draw tenants, even from the downtown. “There is a lot of lease rollovers coming up in the period before 2014 so we think we are well positioned,” Wylie said. The tower is being built on spec, and Wylie said there has been interest for space that will come to market with pre-leases around $35 per square foot. Metrotower III is being built to LEED platinum standards, which will help it attract highend tenants, agrees Bill Elliott, a principal with Avison Young, Vancouver. “This is the most dominant downtown-like development outside of downtown Vancouver,” Elliott said, because of the existing office and retail infrastructure – the adjacent 1.2 million square foot Metropolis mall – and SkyTrain that surround the site. “I see Metrotower III as offering a downtown presence in a suburban location,” Elliott

Photo: Bentall Kennedy

"

TOP: Gordon Wylie, senior director of development for Ivanhoe Cambridge: 29-storey Metrotower III in Burnaby will complete by 2014. (INSET) Metrotower III being built on spec. RIGHT: The 400,000-square-foot office tower at 745 Thurlow in downtown Vancouver is a project of Bentall Kennedy and British Columbia Investment Management Corp. It opens in 2015.

said. “Building office space on speculations is Metrotown SkyTrain station is only 3.3 per always a risk, but I think this is a good risk for cent, compared with an overall Burnaby vacancy rate of 7.3 per cent. Cambridge.” “As downtown and Broadway corridor 5SBOTJU availability decreases and rents increase, The importance of the proximity of the new our landlord and tenant clients are becoming Metrotower to SkyTrain cannot be overstated, more interested in transit-oriented suburban according to Jones Lang LaSalle. “Office locations,” said Jones Lang LaSalle execulocations within 0.5 kilometres of rapid-transit tive vice-president Ray Ahrens. Some new stations have a vacancy rate almost one third developments such as Broadway Tech Centre [lower] than areas which are not served,” the are serving this growing demand and more are company noted in a research paper on office planned including the Brewery District and and transit links in Metro Vancouver. Merchant Square in New Westminster and The study found that the vacancy rate Phase II of the Renfrew Business Centre in Please see Office page A10 for offices within walking distance to the

I

n a recent study of 40 office markets across North America, Jones Lang LaSalle reveals the most expensive streets for office space. Sand Hill Road in Menlo Park, CA, topped the list with average rents reaching $114 per square foot while Fifth Avenue in New York runs at $97 per square foot and Pennsylvania Avenue in Washington, D.C., fetches above $80 per square foot. Burrard Street in Vancouver lands in 11th place. In Canada, the five most expensive streets for office space are as follows: 1. Bay Street in Toronto: $52.09 per square foot; 2. Albert Street in Ottawa: $49.94 per square foot; 3. Burrard Street in Vancouver: $48.88 per square foot; 4. Third Avenue in Calgary: $47.51 per square foot; and 5. McGill College Avenue in Montreal: $41.05 per square foot.

-PXFS.BJOMBOE

FOR SALE

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

PORT COQUITLAM

Restaurant For Sale

4 LOTS APPROVED FOR SUBDIVISON

$1,395,000

LANGLEY

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

CED U D RE

SPECIALIZING IN COMMERCIAL INVESTMENT SALES FOR OVER 23 YEARS

PUBS

Chinatown Investment Prop

SOUTH OKANAGAN PUB Liquor Store and Building for sale Asking $1,450,000

416 Main Street

LOWER MAINLAND PUB & LIQUOR STORE $2,300,000

Coppertank Grill 3835 Main St Newer restaurant, sports bar, 96 Seats, live music venue. Long term lease. Asking $289,000

Growth potential in emerging area. High exposure & foot traffic. Established tenant Asking $1,200,000

FLEETWOOD

Farmland For Sale

High Traffic Retail Location

5398 157th St, Surrey

$1,599,000

5 acre vacant land. Nr Hwy 10 and 152nd. Holding property. Offers to $799,000

4363 Main St (at 27th) D SOL Prime investment opp. Ext. renovations.

4 LARGE LOT SUBDIVISION

For Lease MAPLE RIDGE

16 ACRES + LARGE HOME

$2,100,000

monarkinvestments.ca

604-592-7250

Financing Available. Potential Trades.

138 East Pender

750sf, $2,700 NNN

Chinatown Stores East 6th Avenue

Please visit our website or call for more details.

New 5 year lease to experienced bakery. Large 3 bdrm suite. Asking $1,680,000

1834 West 4th Avenue various sizes – call for details Parking lot – 100' x 125' available immediately

For Sal e

D SOL

Excellent Chinatown location. Previous bank building. Ready for design renovation. Asking $1,400,000

For more details: Success Realty & Insurance Ltd.

JORDAN ENG (604) 728-0883 jordaneng@telus.net

Waterfront Pub & Detached Liquor Store Land, buildings and business Prince Rupert, BC $2,500,000 BC’s fastest growing super port city

LOWER MAINLAND Pub & Liquor Store

Opportunities For Lower Mainland Pub Opportunities call:

JOHN JOHNSON Tel: 604-319-2504 Fax: 604-463-5287 PRUDENTIAL STERLING REALTY LTD.

JOHN JOHNSON


A10 Lower Mainland

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

0''*$&from A9

ESTABLISHED BUSINESS

WANTED U preferably wholesale and distribution

U sales in excess of $1 million

contact: businessacquisitions2000@gmail.com

604 783 2309 Ă&#x160; Â&#x153;Ă&#x160;ÂŁĂ&#x160;-Ă&#x2022;L Interior Location $600000 a year sales. Panago Squamish $550000 a year sales. , - Ă&#x160;*<< Vancouver Island 2 locations combined. fÂŁ]xxä]äää a year sales. Can be sold together or separate.   Ă&#x160;,,   /- West Vancouver Sales growing! Owner nets $55000 a year.

/Ă&#x160;-Ă&#x160;-//" Includes land and buildings. Asking fĂ&#x201C;]xÂ&#x2122;Â&#x2122;]äää Ă&#x160; Â&#x153;Ă&#x160;ÂŁĂ&#x160;-Ă&#x2022;L Chase BC. Asking f{Â&#x2122;Â&#x2122;]äääĂ&#x160;  , strata unit, price includes 1,500 ,Ă&#x160;"sq.ft.

1 owner nets 100,000 a year.

Ă&#x2C6;ä{Â&#x2021;Ă&#x2021;Ă&#x201C;Ă&#x201C;Â&#x2021;{xnnĂ&#x160;UĂ&#x160;ÂŁÂ&#x2021;nnnÂ&#x2021;Ă&#x201C;Â&#x2122;nÂ&#x2021;Ă&#x201C;nĂ&#x201C;Â&#x2122; kjoel@sutton.com

Vancouver, he noted. â&#x20AC;&#x153;We expect to see continued interest in these developments, particularly from employers with back-office operations that do not need to be located downtown,â&#x20AC;? said Ahrens. â&#x20AC;&#x153;Office buildings located near SkyTrain or Canada Line stations also achieve higher rents than other locations.â&#x20AC;? According to the study, office rents close to major transit stations are 8 per cent higher than the Metro average, and the vacancy rate, on average, is 4.8 per cent for transit-friendly locations compared with 12.8 per cent for the overall office market. Transit links are most important in Surrey. The Jones Lang LaSalle survey found that Surreyâ&#x20AC;&#x2122;s vacancy rate for offices close to SkyTrain is 0.4 per cent, compared with 25 per cent for space further from transit, and the rental rates for transit-linked space are about 33 per cent higher.

%PXOUPXOHJBOUT Vancouverâ&#x20AC;&#x2122;s three new Class AAA downtown towers â&#x20AC;&#x201C; all expected to complete within three years with LEED-rated space â&#x20AC;&#x201C; share a common green theme, but their approach to the market is different as this new development cycle begins. Telus, which will be leaving its landmark Burnaby tower on Kingsway, will take nearly 300,000 square feet of its 22-storey, 500,000-square-foot Telus Garden complex at

Robson and Seymour. Bentall Kennedy/British Columbia Investment Management Corp.â&#x20AC;&#x2122;s new 25-storey office tower at 745 Thurlow is already seeing strong pre-leasing and, based on Bentallâ&#x20AC;&#x2122;s reputation and existing client list, most observers expect it to be fully leased before completion. Oxford Properties, the real estate arm of giant pension fund OMERS, represents the only new tower being built on pure speculation. The slender 35-storey tower at 1021 West Hastings is â&#x20AC;&#x153;seeing a lot of pre-leasing activity, some serious tire-kickers,â&#x20AC;? according to Elliott. Oxfordâ&#x20AC;&#x2122;s strategy to offer smaller floor plates within the towerâ&#x20AC;&#x2122;s 270,000 square feet is seen as a smart move. The typical Vancouver office tenant takes up between 3,000 and 3,500 square feet, and the major demand in the city is being seen for such smaller offices. The potential of about 750,000 square feet of new top-rated space is already stirring the downtown market, where the Class A vacancy rate is 2.9 per cent, among the lowest in Canada, according to global tenant representation firm Newmark Knight Frank Devencore.

.BSLFUDIVSO â&#x20AC;&#x153;As 2014 approaches, there may be a good deal of churn,â&#x20AC;? the company stated in a recent report. â&#x20AC;&#x153;With the pending delivery of new space, landlords are also beginning to be more open to negotiating longer-term commitments with their key tenants.â&#x20AC;?

MAPLE LEAF TU3&"-5:-5%

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Light Industrial Land ,9.48 Acres, Ready to Build! Divisible down to 1-acre parcels. Price just reduced by 25%! Priced at $4.00/SF

Bellingham Bay View Condos $2,050,000 - 6 unit condo complex with amazing bay views plus 4,700 SF of commercial space! Court ordered sale.

D!

EDUCE PRICE R

1. KHALSA BUSINESS CENTRE a. 2,364 Sq Ft fully ďŹ nished professional 11 OfďŹ ce on Second Floor with Elevator-services, fully air conditioned, Strata fee $318.33 per month available immediately for Lease @ $12 PSF or Sale @ $225 PSF b. 3 units @ 8388 128th Street, Surrey BC 3,615 Sq ft high ceiling CD zoned, occupied by the same Carpet Store for 13 years Guaranteed leased for 24 months @ 6.5% cap rate. c. 1,183 Sq Ft units 8334 â&#x20AC;&#x201C; 128th CD Zoned can accommodate most of retail business is available for Lease @$1,850 per month plus NNN or at SALE $ 275,000 d. 1,033 Sq ft unit leased for $2,300 per month until 2014 Asking $310,000 2. 13.3 acres ALR Flat Land for Sale @ 4915 Railway Road, Surrey MLS # F 3101190 backs on to Hwy 99 and Colebrook Road, Surrey Asking $ 989,000 3. Exclusive listing - 32 Acres Prime ALR Flat Land in Cloverdale next to BIG developments, Blueberry Farm Asking $ 3.5 M

Hari Sharma RETAIL/INDUSTRIAL COMPLEX

OFFICE/RETAIL BUILDING

Fully Leased Retail/Industrial Property $2,520,000 21,560 SF 7.0% Cap Rate Excellent Guide Meridian Location!

Well located in Bellingham. Includes small industrial space. Great Price! 8.0 CAP proforma. $455,000

Many other Whatcom County Opportunities. Call for complete list.

T R O Y M U L J AT

troy@muljat.com (360) 820-2000

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Jon Bishop, vice-president and general manager of Devencore Co. Ltd., the firmâ&#x20AC;&#x2122;s local office, said the economics of leasing in one of the new towers for the long term is attractive versus renewing in many existing top-tier premises. â&#x20AC;&#x153;I believe youâ&#x20AC;&#x2122;re going to see a new flight to quality that we havenâ&#x20AC;&#x2122;t seen for a few years,â&#x20AC;? he said. But exacerbating the churn is that no major new tenants are coming to town to take advantage of the space. While the city is popular with investors, the tenants are largely familiar faces. Law firms, for instance, are the biggest local tenants. â&#x20AC;&#x153;All weâ&#x20AC;&#x2122;re doing is getting companies that are displacing or relocating themselves to different inventory, different product types,â&#x20AC;? Bishop said. The good news is that as the churn picks up, this could change. Talent and tax incentives for new companies are spurring interest in companies keen to use Vancouver as a base in North America. Bishop expects to see more foreign companies scouting space here in the next 12 to 24 months. Companies that want to re-evaluate their real estate needs in the meantime should make a move. â&#x20AC;&#x153;This is a really good time to do an evaluation on where your business is going and how real estate is going to support that over the next five years,â&#x20AC;? Bishop said. â&#x20AC;&#x153;The landscape for office inventory is going to be changing dramatically.â&#x20AC;?â&#x2014;&#x2020;

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

Multi-use Light Industrial Property

1.3 acres with 16 storage bays, ofďŹ ce, 21â&#x20AC;&#x2122;x41â&#x20AC;&#x2122; shop/bay with 3 phase power. Fully fenced, easy highway access, good exposure, room for expansion, just minutes south of Powell River. $339,000

Ideal Commercial Building Site

with fantastic ocean view! Paved 33â&#x20AC;&#x2122; x 86â&#x20AC;&#x2122; lot on busy Marine Avenue among downtown restaurants, retail and service outlets. $109,900

In-Town Oceanfront Industrial Property

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

MagniďŹ cent Waterfront Acreage

245 acres west sloping land approx. 2700â&#x20AC;&#x2122; waterfront; incredible panoramic views; in ALR $3,100,000

Incredible Location!

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

Ideal Agri-Business Opportunity

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

Great Investment Property

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

Aroma's Gourmet Coffee & Lunch

Well established; steady clientele. Leased space in active business complex; Across from Airport. Financials available. $49,500

Westview Townhouses

Six ocean view, 2 bdrm/1 bath units. Pay-peruse laundry. Covered parking. Good location on main street & bus route $339,500


Lower Mainland A11

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

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

RICHMOND s$EVELOPMENTSITE &RANCIS2AILWAYXFT $4.3 Million s2ETAIL-ALLON!LEXANDRA2D SFLEASABLEAREA $11 Million s0RIME2EDEVELOPMENT3ITEWINCOME ,ANSDOWNE6ILLAGE!REA $17 Million

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

www.naibusinesses.ca HALCYON HOT SPRINGS VILLAGE & SPA 9EAR ROUND OUTDOOR PLAYGROUND WITH SPECTACULAR FACILITIES 0ROlTABLE RESORT  SPA BUSINESS WITH NATURAL HOT SPRINGS  ACRES WITH M WATER FRONTAGEANDSTRATACHALETS"USINESSANDPROPERTY$15,900,000 VANCOUVER ISLAND RESORT & SPA NEW LISTING 0ROlTABLERESORT LODGEANDSPAOFFERINGWORLDCLASSDININGAND SPECTACULAROCEANVIEWS3ITUATEDONACRESOFOCEANFRONT PROPERTYTHISISONEOFTHElNESTSPASIN.ORTH!MERICA:ONED FORFUTUREDEVELOPMENTPOTENTIAL $POA VALEMOUNT RAMADA HOTEL NEW LISTING  ROOM 2AMADA HOTEL LOCATED IN THE HEART OF THE #ANADIAN 2OCKIES6ALEMOUNTISATOURISTBASEDECONOMYKNOWNFORBOTH WINTERANDSUMMEROUTDOORRECREATIONALACTIVITIES#APRATE  $4,200,000 ENGINE DISTRIBUTION CO NEW LISTING 7ESTERN#ANADAESTABLISHEDDISTRIBUTOROFMARINEANDINDUSTRIAL ENGINESANDRELATEDPRODUCTS3TRONGEARNINGSHISTORY TRAINED STAFFANDEXCELLENTPRODUCTLINES3HARESALE $2,500,000 inc inv & equip NIGHTCLUB BAR & GRILL +OOTENAYS 4HEMOSTSUCCESSFULCLUB ER INTHE+OOTENAYSWITHAWARDWINNINGLIGHTINGSYSTEM/NEOFTHE R OFF UNDE IN "# WITH POPULAR RESTAURANT LARGEST LICENSED ESTABLISHMENTS GRILL"USINESSANDPROPERTY $1,750,000 VANCOUVER DINNER CRUISE BUSINESS REDUCED )N BUSINESS FOR OVER  YEARS OPERATING TWO YACHTS FROM $OWNTOWN6ANCOUVER.ETS  $1.85m inc yachts UNIFORM DISTRIBUTOR ,OWER -AINLAND /VER  YEARS IN BUSINESS$ISTRIBUTOROFCORPORATEANDHOSPITALITYUNIFORMSAND PROMOTIONALPRODUCTS $390,000 SUCCESSFUL CAFE RESTAURANT NEW LISTING (UGELYPOPULARCAFEINDOWNTOWN3QUAMISH'ENERATES  MTHINREVENUE2ENTONLY MTH%ASYTOOPERATE4URNKEY OPERATION$299,000 inc equip

ALF SANDERSON DELON CHEUNG 604-691-6646

604-691-6654

alf@naicommercial .ca

delon@naicommercial .ca

42 Suite Apartment Bd, Kamloops 'ROSS)NCOME  #AP2ATE6ERYATTRACTIVE ASSUMABLE#-(#MORTGAGE ASKING   Mobile Home Park, Kamloops %XCELLENTLOCMINDRIVETOMAJORMALLS 'ROSS2EV  #AP2ATEOF

Asking $1,725,000 Kamloops Largest Brew Pub/ Restaurant 2EV   .ET0ROlT  $1,100,000 business, $2,900,000 business/ building Cranbrook RV & Mini Storage !CRES EXPANSIONOPTIONSTODOUBLENUMBEROFUNITS 'ROSS2EVENUE  .ET  Asking $1,750,000 Dawson Creek Mini Storage !CRES 'ROSS)NCOME  Asking $1,500,000 BC Care Home 7ELLESTABLISHEDWITHLONG TERM'OVCONTRACTS ASKING $2,399,000

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

BEAUTY BOUTIQUE & ACCESSORIES (Vancouver) 6ERYWELL KNOWNCELEBRITYBOUTIQUESPECIALIZESINMAKEUP SKINCARE FASHION AND UNIQUE SOUGHT AFTER BRANDS !LSO OFFERS EXTENSIVE BEAUTYSERVICESINCLUDINGPROFESSIONALMAKEUPAPPLICATIONS .......... ......................................................Reduced $238 000 + inv BLUEBERRY FARM & NURSERY (Abbotsford) 3ITUATEDONPRIME-ATSQUImATS4HISWELLMAINTAINEDFARMWITH NEW  SQFTHOUSEOFFERSMATURE"LUECROPAND$UKE ..........$1.98Mil MOTEL PUB LIQUOR STORE (Vancouver Island) ,AKEFRONTAGE ROOMMOTEL OFl CE  SEATPUB  SEAT RESTAURANTGAZEBO/NTHESIDETHEREISBUSYLIQUORSTORE ...$2.8Mil

ELIZABETH WOZNICZKO 604-691-6648 elizabeth@naicommercial.ca FOR LEASE OR SALE Jeske Corporate Centre ASKING $1,798,000 s4HEONLYUNITAVAILABLEIN THISSOUGHTAFTER3/,$/54 PROFESSIONALCENTRE s4ROPHYSUITEDEVELOPERSOWN TOPmOORWITHEAST SOUTHVIEWS s1UALITYIMPROVEMENTSWITHEXECUTIVEOFlCES RECEPTION BOARDROOM LUNCHROOMANDOPENCUBICAL area s  SQFTs6ACANTANDREADYFORYOUR OCCUPANCY SURREY INVESTMENT ASKING $3,600,000 NOI $240,000 6.6% Cap s(EADLEASEWITHSUBLEASETENANTS s&IVEYEARLEASEJUSTRENEWED MORERENEWALSAVAILABLE s4ENANTPAYSALLCOSTS s!CRES s3URREY,OCATION FOR SALE LANGLEY FRASER HIGHWAY FRONTAGE COMMERCIAL STRATA UNITS 2 TO CHOOSE FROM sSQFTREADYFORYOUR IMPROVEMENTS s(6!#ANDSPRINKLERSTOANOPENPLAN s!3+).'$635,000 sSQFT s)NCOMEFROMCURRENTLEASEUNTIL sASKING $749,000 CAP-IT WESTERN CANADA FRANCHISES AVAILABLE sOUTLETSCURRENTLY s4RUCK#APANDACCESSORIES INCLUDING4IRES s&ULLTURNKEYOPPORTUNITY INCLUDING4RAININGAND)NVENTORY s"# !LBERTA 3ASKATCHEWANAND-ANITOBATERRITORIES AVAILABLE s3IZEDTOlTANYMARKETPLACE s&ROMASLITTLEAS 

1400 +/- Sq. Ft. OfямБce Strata Unit 15240 Hwy 10 Surrey (Panorama Place) ASKING $519,900 s"RANDNEW s-OVEINIMMEDIATELY s.OTHAMPEREDBY&INANCIAL 3ERVICES#OVENANT s3IGNAGEOPTIONAVAILABLE

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

EQUIPMENT RENTALS Metro Vancouver s,ONGESTABLISHEDs6ERY0ROlTABLE s&ULLYMANAGEDsMILANNUALSALES$2.8mil EMPLOYMENT AGENCY Metro Vancouver s4EMP0ERMPLACEMENTSs%STABL YEARS OFFER s-ANAGEMENTINPLACEsMILANNUALSALES s6ENDORlNANCINGAVAILABLE$319,000 ICE CREAM FRANCHISE Vancouver s%NGLISH"AYLOCATIONs3TATEOFTHEARTFACILITY s#LASSIC OLDFASHIONED HOMEMADEICE CREAMS s ANNUALSALES Shares $459,000 DOLLAR STORE FRANCHISE &RASER6ALLEY s3INCEs(IGHEXPOSUREINLARGEMALL OFFER sMILANNUALSALES .............................. $358,000+Inv

Ted Stellakis 604-691-6692 stellakis@naicommercial.ca MULTI PURPOSE RETAIL + OFFICE CED

REDU

BURNABY

LEASE

ALE/ FOR S

-ULTITENANTMAINmOORWITHFTCEILINGS/(GRADELOADINGBEHIND XLOTWITHFENCEDPARKINGFROMLANE(IGHEXPOSURE#ZONE  SFRENTABLE SF NETFORLEASEASK $2,350,000

DON ELLIS 604-691-6668 donellis@naicommercial.ca 1.99 Acre Multi Family Development Site, Sechelt BC s/NELEGALPARCELTOTALLINGACRES s:ONED2 -ULTI&AMILY2ESIDENTIAL sOFUNDERGROUNDSERVICINGINPLACE s$2,100,000 23.3 Acre Agricultural Site, Delta BC s/NELEGALPARCELTOTALLINGACRES s:ONED! !GRICULTURAL s%ASYACCESSTO(IGHWAYS   s$2,400,000 27.6 Acre Agricultural Site, Langley BC s/NELEGALPARCELTOTALLINGACRES s:ONED2U 2URAL&LOODPLAIN s!DJACENTTO.ATHAN#REEKDYKE s$2,760,000

COURT ORDERED SALES 397 Acre Development Site, Sechelt BC s:ONED#$ MIXEDUSERESIDENTIAL COMMERCIAL RECREATIONAL s   FEETOFWATERFRONTON0ORPOISE"AY $22,250,000 459.1 Acre Development Site, Cranbrook BC s:ONED#$ 5( 2ALLOWINGFORLOWMEDIUMDENSITYRESIDENTIAL s3URROUNDING'ARY0LAYERDESIGNEDGOLFCOURSE $22,300,000 0.82 Acre Light Industrial Site, Squamish BC s:ONEDL ,IGHT)NDUSTRIAL Price: $450,000 116.53 Acre Development Site, Invermere BC s4RIPLE:ONED2  !  3( VARIOUSUSES Price: $1,499,000

INDUSTRIAL & DEVELOPMENT SITES 43,560 sq.ft. Industrial Waterfront Site, New Westminster, BC s:ONED- (EAVY)NDUSTRIAL s&IVECONTIGUOUSWATERLOTS sFEETOFRIVERFRONT Price: $950,000 29.2 Acre Commercial/Industrial Development Site, Sechelt BC s:ONED#$ "USINESS0ARK#OMPREHENSIVE$EVELOPMENT ALLOWING FORVARIOUSCOMMERCIALLIGHTINDUSTRIALUSES $3,950,000 65 Acre Agricultural Resource Site, Sechelt BC тАв:ONED22 2URAL:ONE ALLOWINGFORVARIOUSAGRICULTURAL GARDENNURSERY SINGLE FAMILY ANDRECREATIONALUSES $1,200,000 18.4 Waterfront Development Site, Sechelt BC s:ONED2 ALLOWINGFORSINGLEFAMILYHOMEOCCUPATIONUSES $1,100,000 s!PPROXIMATELY FEETOFWATERFRONT

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

Committed to Canada. Connected to the World.


A12

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

FEATURE Sell signals flashing as big buyers drive commercial real estate prices through the roof

Photo: Village at Thunderbird Centre

$PNNFSDJBMPVUMPPL

FRANK O’BRIEN/PETER MITHAM

Sunlife Financial recently bought the 318,000-square-foot Village at Thunderbird Centre, Langley, for $148 million: some realtors say it is a harbinger for institutional sales into 2012. Other major malls will see millions of dollars in renovations this year.

WESTERN INVESTOR hen Helmut Pastrick took the podium to address Metro Vancouver developers in November, the chief economist at Central 1 Credit Union warned of “considerable headwinds” facing the commercial real estate market in 2012. His outlook for this year was far from inspiring.

8

“Obviously, Europe is the main risk, but I think B.C. and the Metro Vancouver area economy will perform at a kind of middling pace,” Pastrick told the NAIOP meeting. Some B.C. commercial realtors say the headwinds are already howling, and it is a cold wind indeed. “The market is frozen,” said aRe/Max commercial realtor on Vancouver Island. “Vendors are fine to sit and wait because they have no vacancies.” Vancouver Island commercial real estate sale volumes through MLS were down more than 50 per cent in November of 2011, compared with a year earlier, reports the BC Real Estate Association, and most realtors say it is lack of product, not buyers, that has cooled activity. But sell signals are flashing, even from Vancouver’s rock-solid multi-family and industrial sectors, a sign that some insiders believe this may be a year to cash out before things get any

worse. As one leading commercial realtor quietly told Western Investor: “Prices have peaked. I am telling my clients to sell, and sell now.” The valuations are up in all sectors. In a report on the Metro Vancouver industrial sector over the past year, Grover, Ellis & Co. Ltd., found that the average per-square-foot sale price had shot up 22 per cent. “People are bidding up and paying fairly ridiculous prices right now,” said Larry Dybrig, president of Grover Ellis. In the multi-family sector, the average price of a Vancouver apartment building has soared to more than $257,000 “per door,” according to a study byHQ Realty Ltd. Even suburban markets are seeing recordhigh prices, despite skinny capitalization rates in the 3 per cent to 4 per cent range. It means now may be the time to be liquidating. “Common sense dictates that if you are contemplating selling your asset, there would not be a better time than now,” said David Goodman, a multi-family specialist with HQ. “Demand remains robust. How long will the seemingly insatiable appetite for real estate remain with these historically low cap rates?”

)JHIEFNBOE

Demand is certainly robust. There were more – 906 – commercial real estate sales in Metro Vancouver in the first 10 months of last year than in Calgary and Edmonton combined as Metro sales volumes reached $2 billion. This was down from $2.3 billion in same period in 2010, when a number of large retail transactions were made, reflecting intense demand from deep-pocket investors. Real estate investment trusts (REITs) accounted for 35 per cent of all commercial sales in Canada last year, and pension fund acquisitions were up 22 per cent from 2010, according to CBRE Ltd. In Metro Vancouver, “interest from Canadian institutional investors and private buyers has increased along with demand from private Asian investors,” said Mark Renozi, executive vice-president and managing director of CBRE’s Vancouver office. “The level of interest and development activity is expected to stay strong in the Vancouver market in 2012 and 2013.” REITs bought $62 millon worth of offices, $59 million retail properties and $58 million in industrial real estate across Metro Vancouver

“People are bidding up and paying fairly ridiculous prices right now.”

in the first half of last year alone. Institutional investors purchased $39 million of office assets, while publicly traded non-REIT companies spent almost $71 million on office and retail product combined. Some local commercial yields are off the charts. A survey of the top 20 office buildings in Vancouver shows that net annual rental rates have reached an average of $46 per square foot in downtown towers – the highest since 2008 – and were averaging $38 per square foot in mid-rise office buildings by the end of 2011. The strength of the office sector – three new towers will be built by 2015 – is surprising to some, who note Vancouver’s biggest office tenants are law offices, not resource companies or manufacturers. As one realtor remarked, “We are doing our own laundry.” And, based on projections, there will be little growth in the resource sector to encourage office takeup this year. TheBC Economic Forecast Council has lowered its growth projections for the province next year in light of the worsening global economy. The council expects B.C.’s GDP growth to be 2.2 per cent in 2012, unchanged from last year.

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The potential of a slower economy doesn’t faze Gordon Wylie, senior director of development

-PXFS.BJOMBOE FEATURED LISTINGS: FOR SALE INVESTMENT PROPERTY

FOR LEASE OFFICE / RETAIL

UÊKELOWNAÊÈ{Ê՘ˆÌÊ œ˜`œÉÀiÌ>ˆ°ÊÊ

œÀiÊ>Ài>°Ê¼LՈ`Ê̜ÊÃՈ̽Ê$11,750,000 UÊQUESNELÊ£°ÇÊVÀi]ÊÓʘ>̈œ˜>Ã]Ê $144,500Ê ]Ê$2.1 M]Ê£ä]äääÊÃvÊÊ Ê̜Ê>``°

#106 – 129 East Columbia Street, New Westminster 2154 Square Feet. 4 strata units fully leased Listed at $559,900

#205 – 207 20289 56th Ave, Langley 400 to 2400 sq. ft offices & retail available. Central Langley location. Great lease rates!

WANTED TO LEASE/BUY Daycare Centre Spaces / Buildings. 2500 to 8500 square feet in Langley, Maple Ridge, Tricities, Vancouver, Burnaby, New Westminster / North Shore.

WANTED TO BUY UÊ œ““iÀVˆ>Ê‡Ê,iÌ>ˆÊLՈ`ˆ˜}Ê܈̅ÊvÀœ˜ÌÊ>VViÃÃÊ«>ÀŽˆ˜}ʏœÌ°ÊœÜiÀÊ>ˆ˜>˜`ÊÉÊÀ>ÃiÀÊ6>iÞ° UÊÊ ÕȘiÃÃiÃÊfÓääÊ̜Êf£äÊÀ>˜}i°Ê>˜Õv>VÌÕÀˆ˜}]Ê7…œiÃ>i]Ê,iÌ>ˆ]Ê-iÀۈVi]ʜëˆÌ>ˆÌÞ]Ê Engineering. Qualified buyers. UÊ iÛiœ«“i˜ÌÊ-ˆÌiÃ]Ê œ““iÀVˆ>Ê Ո`ˆ˜}ÃÊ>˜`Êœ`ˆ˜}Ê*Àœ«iÀ̈iðÊ+Õ>ˆwÊi`ÊLÕÞiÀÃ°Ê >Ê“iʘœÜ° Please contact Theo Kefalas for further information on these properties and for any other buying / selling / leasing requirements that you may have. I look forward to hearing from you.

THEO KEFALAS Real Estate Consultant Office: 604-530-4141 info@gowiththeo.com Homelife Benchmark Realty (Langley) Corp.

www.gowiththeo.com

UÊPRINCE GEORGEÆÊ££nÊ>VÀi]{ÊÊiÌÀiÃÊ }À>Ûi]Ê­>LÕÌÃÊ>ˆÀ«œÀÌ®Ê$4,250,000 UÊGRAND PRAIRIEÆʓˆÝi`Ê"É,ÊÊ $140,000Ê ]ʙ¯ÊV>«Ê UÊKAMLOOPS;ÊÈÊ՘ˆÌ]Ê $95,000Ê«iÀÊ՘ˆÌ UÊPRINCE GEORGEÆÊÓx£Ê՘ˆÌÃÊ]Ê £ÎÊ>VÀi]Ê$12,500,000 UÊPRINCE GEORGEÆÊÊ ÎÊÃi«Ê>«>À̓i˜ÌÃʣӇ£ÈÊ՘ˆÌÃÊ UÊSUNCOR / MCDONALDS DISP°ÊÊ {ÊÈÌiÃÊ£Î]äääÊÃvÊ̜Ê{ä]äääÊÃvÊ UÊRAMADA VALEMOUNTÊÇäÊÀœœ“Ã]Ê>Ê >“i˜ˆÌˆiÃ]ʘiÜÊ«Àœ«iÀÌÞ]ÊÅ>ÀiÊÃ>i]ÊÊ ™¯Ê >«Ê,>Ìi UÊBURNABY;ʜvwViÊLՈ`ˆ˜}ÊÊ n]äääÊÃvÊ$900,000 UÊQUESNEL; ÀˆVŽÊÕÀ˜ˆÌÕÀiÊ Õˆ`ˆ˜},ÊÊ °n™Ê>VÀiÃ]Ê£Ç]äääÊõÊvÌ]ÊÓÈÊ«>ÀŽˆ˜}]ʫޏœ˜Ê È}˜Ê$1.5 MÊ

PETER SEED 604-691-6608 peter@naicommercial.ca


A13

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

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T Photo: Avison Young

for Ivanhoe Cambridge, which is building the first large office building in Metro Vancouver since 2007 – its 29-storey Metrotower III in Burnaby – to complete by 2014. Wylie expects to attract even downtown tenants to his new Class AAA LEED-rated space next to Metrotown mall. “There is a lot of lease rollovers coming up in the period before 2014 so we think we are well positioned,” Wylie said. Bill Elliott, a principal and office specialist with Avison Young, notes that three new office towers in downtown Vancouver (see our office report in this issue) will benefit from pent-up demand from existing tenants looking for better space. Since none of the new downtown towers will be complete until 2015, this year will continue as a tight office market, he said. “We are going to see continued pressure on vacancy downtown and continued upward movement on lease rates in 2012,” Elliott said. Elliott, however, doubts that strata office space will be strong this year in the downtown area. “It makes more sense in the suburbs,” he said. Elliott agreed that the overall commercial market is defined by “great entities chasing little product. It is very difficult to find property [for sale],” the said. He explains that owners with very deep pockets who don’t need to liquidate hold much of the prime commercial property. “[These] vendors face two problems,” Elliot said. “Sure they could get a good lift but, one, there is a tax issue and, two, there is nothing rto buy.” Only the unthinkable could convince such owners to sell, Elliott suggested. “It would need to be something on a global scale,” he said, such as an economic crash in China.

Even second-tier industrial sites, such as Gloucester Industrial Park in Langley, are seeing record-high prices from multiple bids.

buyers will apply a lot less of a penalty now than if the market backs off,” said Michael Farrell, an industrial specialist with Avison Young. He pointed to one recent sale: an 85,000-square-foot, single-tenant warehouse on a short lease at Gloucester Industrial Estates in Langley. The building sold for $9.5 million, which Young estimates was at least half-a-mil-

Vendors face two problems 1: there is a tax issue 2: there is nothing to buy.

*OEVTUSJBM

lion dollars above what it would have fetched a year ago. Farrell said the message to owners of such “non-beauty-queen buildings” is blunt. “Now is the time to get rid of it, because you are going to achieve really strong pricing. Prices may back off more for this asset than a triple-A property [in 2012],” he said. Timing could be important. According to an Avison Young report on the industrial market, property tenants and owners are keeping an eye on the economic situation in the United States and Europe as they decide on expansion or retraction this year. In other words, those who think external markets will worsen may be inclined to sell.

Metro Vancouver’s industrial market also offers a sell opportunity, particularly for owners who hold less than Class AAA product. Buyers are attracted by low interest rates, vacancies in a healthy 4.5 per cent range, steady land prices 3FUBJM and strong leasing rates. “If you’ve got something that is not perfect, One real estate sector looking strong into this tsay a single-tenant building or an older builder, year is retail, despite a recent waning of U.S.

retailers looking for space and a faltering of lease rate increases along some prime strolls. Retail spending in B.C. is expected to remain close to the $24.4 billion levels of 2011. BC Central One Credit Union also forecasts that B.C.’s unemployment rate will rise modestly to around 7.2 per cent this year, which should have little effect on consumer spending. In Vancouver, the retail attention is focused on the Robson Street/Burarrd Street/Granville Street areas, which may be a harbinger for a retail churn in 2012. High-profile U.S. retailers set to open stores on Robson Street include Apple Inc., Forever 21 and Crate and Barrel. Meanwhile, CTV will partially vacate 80,000 square feet this summer in the HMV Building at Burrard and Robson. As well, 171,000 square feet of new retail space will complete this year at Granville and Robson. Downtown leases rates have declined from the peak, agents say, with even prime Robson Street space at around $160 per square foot, annually, down from $200 in 2009. Suburban markets are seeing a strong U.S. influence. North Carolina-based Lowe’s Companies Ltd. opened its first B.C. store in November – two weeks after it announced store closures in the U.S. Its new 117,000-squarefoot store is in the Queensborough area of New Westminster. “We believe that there’s plenty of room for good retailers in what is a good Canadian market,” said Ramona Paul, who is the manager of the chain’s Queensborough store.

he industrial real estate market in Victoria has seen the vacancy rate fall to 3.4 per cent, but it is down to 0.4 per cent in the Esquimalt area, which is expected to see demand growing due to a new federal government shipbuilding contract. This year will see more than 500,000 square feet of new industrial space breaking ground, led by 200,000 square feet of warehouse space for the Department of National Defence in Esquimalt, according to a report from Colliers International.

Other large American retailers are looking to follow Lowe’s strategy of expanding into B.C. Some chains to watch according to retail analysts include: Nordstrom Inc., Dick’s Sporting Goods, Kohl’s Corp. and J.C. Penny Co. Inc. U.S.-based giant Walmart is constructing a 151,000-square-foot outlet in Port Coquitlam and a 95,000-square-foot store in Mission, both expected to open this year. Investments in retail property slowed last year, but appeared to be picking up steam as the year ended. In October, for example, Sunlife Financial bought the 317,000-square-foot Village at Thunderbird Centre in Langley for a reported $148 million, the largest retail sale of the year Weeks earlier, a $250 million makeover of Guildford Mall in Surrey was announced, and other old malls are also being upgraded. Again, some say that owners of retail property may look to this market as a sell opportunity. “[The retail market] is priced to perfection,” said John Horton, president of Shape Properties. But don’t sell because of a potential downturn, cautions Pastrick. “I don’t expect a recession to play out in the U.S. or the global economy,” he said, acknowledging the recession of 2008 had taken many unaware, too. But he made sure to tell the real estate community that even if the short term doesn’t deliver dramatic gains, the future is bright: “The long-term trend is up.”◆

-PXFS.BJOMBOE LD O S

LD O S

353 WATER ST.

PR

678 E. HASTINGS ST.

21 WATER ST. - THE PACKING HOUSE

LD SO

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620 SEYMOUR ST.

• SIX STOREY PLUS LOWER LEVEL, COMMERCIAL OFFICE AND RETAIL BUILDING • PROMINENT CORNER GASTOWN LOCATION AT WATER AND CARRALL ST. • CHARACTER INVESTMENT PROPERTY IN GASTOWN • LOT SIZE: 13,647 SF (APPROX) • ZONING: HA - 2 LIST PRICE: PLEASE CONTACT THE EXCLUSIVE LISTING AGENT

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LD O S

LD O S

1-15 W. CORDOVA ST.

PR

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33 W. PENDER ST. Development (3 CRU'S)

611 POWELL ST.

LD SO

• FREESTANDING LIGHT INDUSTRIAL BUILDING • OWNER OCCUPIER / POTENTIAL INVESTMENT OPPORTUNITY • MAIN LEVEL PLUS BASEMENT STRUCTURE • EXCELLENT VISIBILITY ON POWELL ST. • LOT SIZE: 6,100 SF (APPROX) • ZONING: DEOD LIST PRICE: $1,550,000

100 141 WATER ST. • CHARACTER OFFICE OPPORTUNITY IN GASTOWN • EXCELLENT OWNER OCCUPIER OPPORTUNITY • BUILT-IN RECEPTION, BOARDROOM AND OFFICES • UNIT SIZE: MAIN: 777 SF (APPROX), LOWER LEVEL: 945 SF (APPROX.) – AS PER STRATA PLAN • AMPLE STORAGE SPACE LIST PRICE: $498,000

LD O S

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57 E CORDOVA ST. • PREMIER GASTOWN MAIN LEVEL LIVE/WORK UNIT • EXCELLENT STREET FRONTAGE AND VISIBILITY • CHARACTER SPACE WITH BRICK AND BEAM • OVERSIZED WINDOWS FOR AMPLE NATURAL LIGHT • UNIT SIZE: 1,726.53 SF (APPROX.) • ZONING: HA – 2 (HISTORIC GASTOWN AREA)

LIST PRICE: $888,000

ROBERT THAM s MARC SAUL s Corbel Commercial Inc. www.corbelcommercial.com U Tel: 604.609.0882 U Fax: 604.609.0886 U Info@corbelcommercial.com E. & O. E.: All information contained herein is from sources we deem reliable, and we have no reason to doubt its accuracy; however, no guarantee or responsibility is assumed thereof, and it shall not form any part of future contracts. Properties are submitted subject to errors and omissions and all information should be carefully verified. All measurements quoted herein are approximate.


A14 Lower Mainland

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

Franchise Opportunity

SURREY B.C.

WAREHOUSES

PLASTIC MFG. - Vancouver 30 yrs. in business. Good repeat business. Owner retiring and very motivated. Offered for $300,000

Blenz Master Franchise in Vancouver, Vancouver Island, Ontario & Alberta Blenz Franchises ........$139,900, $179K - $488,800

FOR SALE

MOTEL 30 rooms well established, good location, building in excellent condition

Steamrollers Franchise Vancouver.$319K (Davie St.) Steamrollers Franchises Opp. SOLD

4.7 acres with 88,000 sq ft New Tilt-up warehouse UĂ&#x160; iÂ?Â&#x153;Ă&#x153;Ă&#x160;Ă&#x20AC;iÂŤÂ?>ViÂ&#x201C;iÂ&#x2DC;Ă&#x152;Ă&#x160;VÂ&#x153;Ă&#x192;Ă&#x152;Ă&#x160;Ă&#x160;UĂ&#x160;-Ă&#x152;Ă&#x20AC;>Ă&#x152;>Ă&#x160;Ă&#x2022;Â&#x2DC;Â&#x2C6;Ă&#x152;Ă&#x192;Ă&#x160;vÂ&#x153;Ă&#x20AC;Ă&#x160;Ă&#x192;>Â?i

GAS STATION, building land equipment included, all updated 3.5 ac land 5 legal lots

Wired Monk Individual Franchise Opportunity Wired Monk ......................................... $99K, $169K,

FOR LEASE

MANUFACTURE of high-bedding (pillows, duvets, cushions) & Polyester Fibre Processing, excellent clientele, family business since 2002, good profit margin, owner will teach this unique operation. Offered for $250,000 Please call

RICHARD PODGURSKI

RE/MAX Masters Realty

604-961-5665 richard@expertrealty.ca www.expertrealty.ca Cell:

Wired Monk New Franchises - Vancouver ................................ $262K-$350K depending on location Casa Del Sole CafĂŠ...............................................$175,000

JOHN KLASSEN

www.matthewmoadebi.com www.vancouverfranchise.ca

Cell# 604-309-7632 or 604-859-2341

Matthew Moadebi 604-329-6771 (Cell) m.m7430@gmail.com

SUBLEASE DOWNTOWN VANCOUVER Assembly use, 2700SF, Negotiable

S E Y M O U R R E S T A U R A N T For Sale 2400SF .............................................................. $480,000 WEST 4TH AVE RESTAURANTFor Sale, 2000SF .......................................................................$460,000 WEST 4TH AVE RESTAURANT For Sale 1800SF .......................................................................$220,000 SECHELT DEVELOPMENT .............. $2,700,000 DEVELOPMENT SITES Vancouver/Victoria /Surrey For Sale - Call for more information LASER AND ESTHETICS BUSINESS For Sale Great Revenue, minimal management $120,000 S U B L E A S E 3400 S F 61 W E S T 7 T H AV E ......................................$11.25/sf plus opera ting

Alex Yuen 604-338-1800

Alex Yuen PREC Macdonald Realty Ltd.

Delta BC - 11955 95A Ave 11680 sf Building on 21,961 sf Property Automotive, Retail, Restaurant, OďŹ&#x192;ce and Caretakers Suite I-1 Zoning.

$1,699,000 AUTOMOTIVE PARTS business for sale. $400,000

RESTAURANT BUSINESS

C H I L L I WA C K , B C Rare opportunity! First time offered, owners retiring after 22 years! This 120+ seat restaurant is truly one of Chilliwack's most respected & renowned family dining destinations. Iconic visual exposure in the heart of town w/ no franchise fees. Well established w/reasonable lease rate makes this turn-key operation perfect for a family-run venture or the budding entrepreneur.

Bring your ideas & dreams and call Janet Kirkpatrick today for details.

1-800-830-7175 604-858-7179 604 858 7197

$1,087.50/mo + Triple Net 1,800 sq.ft. tilt up warehouse Near new building Immediate occupancy Easy access to Highway Call Gary or Lorraine for details!

MAPLE RIDGE - 50 ACRES Heavily treed - Zoned RS3 within the ALR. Approx. 85% level. RARE to ďŹ nd this large a parcel for sale within the GVRD. $2,580,000

FRAIPONT & MANYK RE/MAX NYDA REALTY

Oak Realty

N<JKJ@;<:FDD<I:@8C9L@C;@E>=FIJ8C< (/).N\jk,k_8m\el\ â&#x153;Ś 2 storey ofďŹ ce building plus vacant lot â&#x153;Ś Fully leased to a triple "A" tenant â&#x153;Ś 100' x 112' lot zoned C3A & RM4 â&#x153;Ś Redevelopment Potential â&#x153;Ś 4.7% return on price

GI@:<;8K -#/,'#''' Full Details with PROFESSIONAL REALTY CORPORATION LTD

Ken Ronalds 604-736-1266 kenr@proreal.ca

Ken Boyce Fax: 604-734-0760 kboyce@proreal.ca

OR

DONE DEALS editorial feature will highlight deal ďŹ&#x201A;ow in Western Canada. -Â&#x2026;Â&#x153;Ă&#x153;Ă&#x160;Ă&#x152;Â&#x2026;iĂ&#x160;Â&#x201C;>Ă&#x20AC;Â&#x17D;iĂ&#x152;Ă&#x160;Ă&#x153;Â&#x2026;>Ă&#x152;Ă&#x160;Â&#x2C6;Ă&#x192;Ă&#x160;Â&#x201C;Â&#x153;Ă&#x203A;Â&#x2C6;Â&#x2DC;}Ă&#x160;>Â&#x2DC;`Ă&#x160;Ă&#x153;Â&#x2026;Â&#x153;Ă&#x160;Â&#x2C6;Ă&#x192;Ă&#x160;Â&#x201C;Â&#x153;Ă&#x203A;Â&#x2C6;Â&#x2DC;}Ă&#x160;Â&#x2C6;Ă&#x152;°Ă&#x160;/Â&#x2026;iĂ&#x160;Â&#x201C;Â&#x153;Â&#x2DC;Ă&#x152;Â&#x2026;Â?Ă&#x17E;Ă&#x160; Ă&#x20AC;iÂŤÂ&#x153;Ă&#x20AC;Ă&#x152;Ă&#x160;Ă&#x153;Â&#x2C6;Â?Â?Ă&#x160;Â&#x2026;Â&#x2C6;}Â&#x2026;Â?Â&#x2C6;}Â&#x2026;Ă&#x152;Ă&#x160;Â&#x201C;>Â?Â&#x153;Ă&#x20AC;Ă&#x160;­L>Ă&#x192;Â&#x2C6;V>Â?Â?Ă&#x17E;Ă&#x160;xäĂ&#x160;Ă&#x192;ÂľĂ&#x2022;>Ă&#x20AC;iĂ&#x160;viiĂ&#x152;Ă&#x160;Â&#x153;Ă&#x20AC;Ă&#x160;Â&#x201C;Â&#x153;Ă&#x20AC;iĂ&#x2020;Ă&#x160;Â&#x153;Ă&#x20AC;Ă&#x160;Â?>Â&#x2DC;`Ă&#x160; `i>Â?Ă&#x192;Ă&#x160;Â&#x153;vĂ&#x160;fĂ&#x201C;Ă&#x160;Â&#x201C;Â&#x2C6;Â?Â?Â&#x2C6;Â&#x153;Â&#x2DC;Ă&#x160;Â&#x153;Ă&#x20AC;Ă&#x160;Â&#x201C;Â&#x153;Ă&#x20AC;iÂŽĂ&#x160;VÂ&#x153;Â&#x201C;Â&#x201C;iĂ&#x20AC;VÂ&#x2C6;>Â?Ă&#x160;Ă&#x20AC;i>Â?Ă&#x160;iĂ&#x192;Ă&#x152;>Ă&#x152;iĂ&#x160;Ă&#x152;Ă&#x20AC;>Â&#x2DC;Ă&#x192;>VĂ&#x152;Â&#x2C6;Â&#x153;Â&#x2DC;Ă&#x192;Ă&#x160;Ă&#x152;Â&#x2026;>Ă&#x152;Ă&#x160; Â&#x2026;>Ă&#x203A;iĂ&#x160;VÂ?Â&#x153;Ă&#x192;i`Ă&#x160;Ă&#x153;Â&#x2C6;Ă&#x152;Â&#x2026;Â&#x2C6;Â&#x2DC;Ă&#x160;Ă&#x152;Â&#x2026;iĂ&#x160;Â?>Ă&#x192;Ă&#x152;Ă&#x160;Ă&#x17D;äÂ&#x2021;{xĂ&#x160;`>Ă&#x17E;Ă&#x192;Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160;7iĂ&#x192;Ă&#x152;iĂ&#x20AC;Â&#x2DC;Ă&#x160; >Â&#x2DC;>`>°

Call for details:

RE/MAX Lifestyles Realty

KIRKPATRICK Toll Free: Tel: Fax:

Dean Thomas, CCIM sCELL WWWDEANTHOMASNET RE/MAX dEANTHOMAS REMAXNET RESULTSREALTY

endwest2@uniserve.com #9 2630 Bourquin W.Abbotsford

LAND AND BUILDING O l d Ya l e R o a d - B r i d g e v i e w A r e a Property is zoned IL-1 3 single storey â&#x20AC;&#x153;Quonsetâ&#x20AC;? buildings Concrete foundations totaling 9,500 sq ft Total area 24,633 sq ft - fully fenced More info @ www.oldyaleroad.com MLS V4028852 $1,300,000

MISSION LEASE SILVER CREEK INDUSTRIAL PARK

Call GARY FRAIPONT or LORRAINE MANYK

JANET

11987 * * * * *

7>Ă&#x20AC;iÂ&#x2026;Â&#x153;Ă&#x2022;Ă&#x192;iĂ&#x160;Â&#x2021;>Â?Â?Ă&#x160;Ă&#x192;Â&#x2C6;âiĂ&#x192;Ă&#x160;Ă&#x192;Ă&#x152;>Ă&#x20AC;Ă&#x152;Â&#x2C6;Â&#x2DC;}Ă&#x160;>Ă&#x192;Ă&#x160;Â?Â&#x153;Ă&#x153;Ă&#x160;>Ă&#x192;Ă&#x160; f{°xäĂ&#x160;Ă&#x192;ÂľĂ&#x160;vĂ&#x152;Ă&#x160;Â&#x2DC;iĂ&#x152;Ă&#x160;Ă&#x20AC;iÂ&#x2DC;Ă&#x152;°

Sandwich Tree master franchise opportunity $235K

FOR SALE INDUSTRIAL PROPERTY

FOR SALE OR LEASE

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

www.rltylink.com 604.466.2838

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Each ofďŹ ce independently owned and operated

UĂ&#x160; vĂ&#x160;Ă&#x152;Â&#x2026;iĂ&#x160;Â&#x2DC;>Â&#x201C;iĂ&#x160;Â&#x153;vĂ&#x160;Ă&#x152;Â&#x2026;iĂ&#x160;LĂ&#x2022;Ă&#x17E;iĂ&#x20AC;Ă&#x160;Â&#x2C6;Ă&#x192;Ă&#x160;VÂ&#x153;Â&#x2DC;wĂ&#x160;`iÂ&#x2DC;Ă&#x152;Â&#x2C6;>Â?]Ă&#x160;ÂŤÂ?i>Ă&#x192;iĂ&#x160;Ă&#x152;iÂ?Â?Ă&#x160; Ă&#x153;Â&#x2026;>Ă&#x152;Ă&#x160;Ă&#x152;Ă&#x17E;ÂŤiĂ&#x160;Â&#x153;vĂ&#x160;LĂ&#x2022;Ă&#x17E;iĂ&#x20AC;Ă&#x160;­Â&#x2C6;°i°]Ă&#x160;, /]Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x192;Ă&#x152;Â&#x2C6;Ă&#x152;Ă&#x2022;Ă&#x152;Â&#x2C6;Â&#x153;Â&#x2DC;>Â?]Ă&#x160;Â?Â&#x153;V>Â?Ă&#x160; Â&#x2C6;Â&#x2DC;Ă&#x203A;iĂ&#x192;Ă&#x152;Â&#x153;Ă&#x20AC;]Ă&#x160;vÂ&#x153;Ă&#x20AC;iÂ&#x2C6;}Â&#x2DC;Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x203A;iĂ&#x192;Ă&#x152;Â&#x153;Ă&#x20AC;]Ă&#x160;Â&#x153;Ă&#x153;Â&#x2DC;iĂ&#x20AC;Ă&#x2030;LĂ&#x2022;Â&#x2C6;Â?`iĂ&#x20AC;ÂŽĂ&#x160; UĂ&#x160; 7Â&#x2026;Â&#x153;Ă&#x160;Ă&#x153;>Ă&#x192;Ă&#x160;Ă&#x152;Â&#x2026;iĂ&#x160;Â?Â&#x2C6;Ă&#x192;Ă&#x152;Â&#x2C6;Â&#x2DC;}Ă&#x160;>}iÂ&#x2DC;Ă&#x152;Ă&#x2030;>}iÂ&#x2DC;VĂ&#x17E;ÂśĂ&#x160;

1-800-661-6988

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Please forward this information directly to

Frank Oâ&#x20AC;&#x2122;Brien,

Western Investor Editor at

www.westerninvestor.com

wieditor@biv.com.

FRANK O'BRIEN Editor

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


A15

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

REGIONAL ROUNDUP Giant shipbuilding contract will raise demand and prices for North Vancouver real estate

3JTJOHUJEF WI STAFF/JOEL McKAY WESTERN INVESTOR

industrial land values in the Lower Mainland, with average prices well above $1.5 million per acre. The industrial vacancy rate is a skinny 1.8 per cent. With little new supply on stream and increased demand – some linked to shipbuilding contracts – the industrial vacancy rate is forecast to remain below 2 per cent this year.

8

The key reason for the renewed interest: the biggest shipbuilding deal in B.C. history, expected to spin off billions in economic activity into the City of North Vancouver and District of North Vancouver. In dollars, the Londsale property sale – where the capitalization rate is estimated at just 3.5 per cent – could equal all the retail property investment sales in the first nine months of last year on the North Shore and set a record price for North Vancouver commercial real estate. The only thing holding the North Van market back is a lack of supply to meet demand, analysts say, who note prices are accelerating across the board. In the first nine months of 2011, just 10 industrial sales on the North Shore totalled $27.4 million in sales, for example. This compares with 2010, when it took 29 sales to reach the same dollar figure. It is estimated that 2011 dollar volumes will hit the highest level since 2006, and this year could be even be bigger. “Industrial and retail properties have been top of mind for owner/operators and investors,” said Avison Young associate Matt Thomas, but he added that a lack of new supply has frustrated potential buyers, especially for small strata units. North Vancouver has among the highest

rates in the $40 to $50 per square foot range and intense demand from investors. “Retail properties priced less than $2 million attract multiple offers,” Thomas said. Much of the action is concentrated along Lonsdale Avenue in North Vancouver city, but the District of North Vancouver has already rezoned for a new shopping district near the Second Narrows Bridge. Lower Lynn Town Centre is a 20-year development proposal that would begin with highdensity residential of about 650,000 square feet and 45,000 square feet of commercial space. Construction of the first of six residential towers – including two highrises – could start late this year.

3FTJEFOUJBM

As of the end of November 2011, the price of a typical detached house in North Vancouver was up 11 per cent from a year earlier, to $985,731, reports the Real Estate Board of Greater Vancouver. This is the fourth-highest price in the region, behind only West Vancouver, the West Side of Vancouver and Richmond. The typical North Vancouver condominium apartment sells for $380,075, unchanged from a year ago.

Photos: Seaspan

hen a one-acre commercial development site in North Vancouver City went to market in December, it attracted multiple bids of up to $18 million. The four-storey Lonsdale Avenue parcel – which will likely qualify for higher-density mixed-use zoning – gave an 3FUBJM indication of a turnaround in what had been The retail sector is also hot in a lacklustre real estate scene. North Vancouver, with lease

TOP: Seaspan’s $8 billion federal shipbuilding contract is expected to boost demand for commercial real estate in North Vancouver City and District. LEFT: Up to 4,000 direct and indirect jobs will be created due to B.C.’s largest shipbuilding agreement with Ottawa.

But Seaspan notes that the big contract is still Meanwhile, apartment rental buildings are in high demand, with the average price per suite in its very early stages. of multi-family rental properties soaring above John Shaw, Seaspan’s vice-president of $168,800 by the end of last year, according to program management and the man behind the company’s pitch for the National Shipbuilding a survey by HQ Realty Ltd. Procurement Strategy (NSPS) non-combat ves"DDFMFSBUJOH sel contract, said his company has yet to win Real estate developers see the spinoffs from the anything. giant federal shipbuilding contract, awarded to “We have an $8 billion opportunity,” Shaw Seaspan’s shipyards in North Vancouver, as a said at his office next to the shipyard in North catalyst for the commercial and residential sec- Vancouver. He cautioned that negotiations with tor. The $8 billion program will not only inject the federal government have only just begun. billions into the local economy, but it will cre- The non-combat contract includes new joint ate an estimated 4,000 jobs over the next eight support ships for the Royal Canadian Navy, years. In addition, the federal government has science vessels for the coast guard and a polar plans for a further 17 vessels, which Seaspan icebreaker. may be involved with. Shaw and his team spent the better part of the Construction on the new vessels will likely last year developing a bid (at a cost to Seaspan start this year. In the meantime, over $150 in excess of $1 million) that proved to the fedmillion worth of infrastructure will be built at eral government that it had the people, knowSeaspan’s shipyards in North Vancouver and how, finances and space to build navy and coast Victoria, while vessel design work is being guard vessels. finalized. Please see North Van page A16

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ADL:GB6>CA6C9H=DEE>C< 8:CIG:;DGH6A: $9 MILLION.

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SENIOR'S DEVELOPMENT SITE SALE: $2,480,000 Foundation in place, tendered plans, permits, ready to complete. 88 units.

A6C<A:N76@:GN;DGH6A:  $119,000. $400k PER YEAR SALES. IH6LL6HH:C=6>GH6ADC;DGH6A: $40K. A6C<A:N76@:GN;DGH6A:  $119,000 $400k ADD@>C<;DGHE68:;DG/ School, 5000 – 8000 sq. ft. (major centres) Produce/Butcher 5000 sq. ft. QSR’s 900 – 1200 sq. ft Restaurant 1500 – 3000 sq. ft..

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NEW WEST/BURNABY MIXED DEVELOPMENT 39 Apartment Units, 7 Townhouse Units $2.69 Million. OCP & Area approved plan.

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A16 Lower Mainland

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

Self Storage

FOR SALE!

â&#x20AC;˘ $5,300,000 â&#x20AC;˘ 499 UNITS â&#x20AC;˘ 62.5% CLIMATE CONTROLLED â&#x20AC;˘ STABILIZED FACILITY â&#x20AC;˘ RENTAL RATE UPSIDE â&#x20AC;˘ PEORIA, AZ (PHOENIX SUBMARKET)

Michelle Watson 480-326-9520 m.y.watson@hotmail.com

In addition to making a case for its own shipbuilding capabilities, Seaspan had to commit to supporting the greater marine shipbuilding industry in its bid. That means the company has agreed to spend 0.5 per cent of each contractâ&#x20AC;&#x2122;s value on one of three areas: human resources development, technology development and industrial development. The first project for Seaspan will be the $150 million coast guard fisheries science vessels. But work on them wonâ&#x20AC;&#x2122;t begin for at least another year. In the meantime, the company has ordered six new wood-chip barges to keep workers busy until NSPS work begins. At the same time, Seaspan has launched a major recruitment drive to find the next generation of workers to fulfil its needs.

+PCT Shaw said Seaspanâ&#x20AC;&#x2122;s Vancouver shipyards in North Van would need an additional 200 workers by 2013, and then another 400 to 600 on top of that to support navy ship construction. Talks are underway between Seaspan, unions and colleges to help the company source as many local workers as possible. The province has also created a B.C. Shipbuilding and Repair Sector task force to help the industry determine what its labour needs will be in the coming years. But not every worker will come from B.C.

CHILLIWACK AVIATION PARK UNITS FOR SALE/RENT

Shaw said he expects the contracts will attract oilpatch workers from Alberta as well. The contract, although positive for the industry, could affect the labour force at Seaspanâ&#x20AC;&#x2122;s other North Vancouver competitor, Allied Shipbuilders. Allied president Malcolm McLaren said the NSPS contract could mean that workers leave his company for Seaspan where thereâ&#x20AC;&#x2122;s guaranteed work for decades to come. â&#x20AC;&#x153;Yeah thatâ&#x20AC;&#x2122;s an issue,â&#x20AC;? said McLaren. â&#x20AC;&#x153;As an employer itâ&#x20AC;&#x2122;s our challenge [to answer], how do we compete with an outfit that looks like it has long-term work? On the other hand, if thereâ&#x20AC;&#x2122;s work available it means thereâ&#x20AC;&#x2122;s still usually room for more.â&#x20AC;? But McLaren added that the NSPS could mean more sub-contract or overflow work for Allied. In Vancouver, the NSPS has already generated new work for Robert Allan Ltd., Canadaâ&#x20AC;&#x2122;s oldest privately owned consulting naval architecture firm. The company is also bidding on the design contract for the polar icebreaker, which, if it wins, would mean more job creation for the 75-person firm. Back on the North Shore, Percy Darbyson, business manager for the Marine and Shipbuilders local 506, said heâ&#x20AC;&#x2122;s not entirely sure yet how the NSPS contract will affect his people. The unionâ&#x20AC;&#x2122;s current contract with Seaspan is up for negotiation in 2013, said Darbyson, and he expects the company will want to ham-

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/035)7"/from A15

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RECREATION 1250 ACRES FOR SALE

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For Lease: $13.20/sq ft 5,000 sq ft building 34,728 SF fully fenced lot Just off the Lougheed Hwy

West Vancouver 1

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NORTH VANCOUVER Burrard Inlet Burnaby 1

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/PSUI7BODPVWFS #$ Total population 132,000 Average detached house price $985,000 Average condo price $380,000 Retail lease rates $40-$50 per sq. ft. Industrial land, per acre $1.5 million$2.2 million Industrial vacancy rate 1.8 per cent

mer out a deal with workers sooner rather than later. Shaw said the relationship between Seaspan and the union is strong. Despite all of the work in front of Seaspan, Shaw said heâ&#x20AC;&#x2122;s confident the company will overcome any obtsacles. Said Shaw: â&#x20AC;&#x153;Will there be challenges? Of course there will, [but] the future is exciting.â&#x20AC;?â&#x2014;&#x2020;

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Lower Mainland A17

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

BUY IN CHILLIWACK. NOW IS THE TIME.

NEED NOW !!! $5 - $15 million Shopping Centres

Super L’Auto Recycler Business

Just Collect the Rent!!! Building approx. 5 years old, 12,566 sqft Building, 31,279 sqft Lot. Busy industrial area of Chilliwack close to the new Eagle Landing and Hwy exposure. Well maintained. PRICED TO SELL! HARD TO FIND PROPERTY!!!

Gold class certifi ed ................Auto recyclers for sale here is the opportunity to own one of the fastest growing in the greater lower mainland. very rare and hard to fi nd a well established turn key auto recyclers that been in business for over 25 years ! Time has come to retire ! Large inventory of high end salvage and a customer data base of over 3000 customers you will recieve all inventory building,racking property with a 49 year lease and 3 acres of land.

$2,125,000 Exclusive

$2,200,000 Exclusive

45787 Yale Road

45922 Yale Road BUILDING AND LAND – LOCATION!!!

44290 Yale Road West Excellent Hwy Exposure. 4 Bay plus Live in Suite, Zoned M2. Land approx. 19,166 sqft., Building approx. 7,976 sqft. Each bay has separate entrance, large overhead doors. Perfect Investment Building in Growing Area.

$1,120,000 MLS® H3100320

45955 & 45961 Yale Rd. Body Building 11,992 sq.ft. Land 1.001 Acres GREAT FOR CAR LOT! 5 Bays, Showroom, offi ces, Great Exposure with lots of parking in this area of town. So much potential with this property, to many to list. The lots are zoned CS1(Service Commercial). Call Lindsey for additional info 604-798-2977

$1,850,000

7870 Enterprise Way

Perfect for your building supply, glass company, or retail business. Building is over 12,000 sq.ft. and has new siding, new windows, and a new elevator. Downstairs is 6,147 sq.ft. and has a large showroom, offi ces, and upstairs has 4 leased tenants in offi ces. Parking on a fenced .935 acre lot. This property was appraised at 2.2 million. Vendor is a motivated Seller.

$1,750,000 MLS® H3100328

Perfect for detail shop - on Busy Yale Rd with excellent exposure. (Across for South Gate Shopping Centre) Very clean Building!! Building approx. 3,000 sq.ft. with one Bay door, Excellent Retail Space for your business or purchase existing Business. Goal Line Hockey Can be purchased separately it is a state of-the-art Hockey training facility with Rink and Skatemill. A must see. Priced to Sell!! $425,000

44703 Yale Rd/44698 Chalmer Place 8424 Aitken Road Rare fi nd!!! 14.685 Acres of undeveloped land, next to the railway tracks. Good access to Trans Canada Highway #1. The zoning is currently M4 (Heavy Industrial Zoning) allows for Warehousing, Heavy Industrial, Storage & much more. Municipal water & sanitary services are at the road, fl exible zoning. Strong development activity around Highway 1 Business Park, Progress Way Business Park and Cattermole Industrial Estates. $3,600,000

1.66 acres in 2 titles, zoned M2 (Service Industrial) in absolutely prime location. Highway 1 exposure, access of Yale Rd. or Chalmer Place (cul-de-sac). Set in the heart of the Industrial area with easy access to the City and national transportation routes. Zoning allows for wide variety of uses including warehousing, light manufacturing, food processing, sales, and more. Offered at a highly competitive price of approx. $25 per sq.ft. THIS IS A GREAT DEAL! $1,799,900 MLS® H3100190

College – 3 TITLE DEVELOPMENT SITE Cross Country – Building and Land Includes 2 Businesses. Store is excellent for mom and pop or family operation, well established clientele, very clean business. Call for Complete Details, and package.

Site 36,238 sqft. Building 18,000 sqft. This site needs an experienced builder that is up to the challenge. Many possibilities to keep existing building, low income or mixed use Development. 2 empty lots as well as old courthouse lot and building.

$599,000

$1,125,000

Cleveland Harley – 44768 Yale Road

Just collect the rent on this 3 bedroom, and 4 one bedroom apartment. The building is close to bus routes, and all the amenities. It is a 2 story multi-family apartment with a full unfi nished basement. Parking located in the back of the building, and the building has lots of updates. This is a must see property, and a great investment for the experience or new investor.

With Highway Exposure!! Approx. 16,899 with 11,666 sqft. commercial building for sale in busy industrial area. Great Highway exposure, easy access to property. Building has front parking lot with additional parking on road. Loading Bay in front, and bay door on side, with huge warehouse. (Harley Davidson Dealer)

$459,000

$2,500,000

Yale Road 3 freshly renovated 1,000 sqft. units with great traffi c exposure. Located in the growing downtown Chilliwack area, Street Parking, and stylish exterior. These units are priced to Move!

Buy the complete building for a discounted price of $575,000 - $199,000 per unit

Wellington – Prime Location! Commercial retail/offi ce 19 ft. x 88 ft. open concept plan. Kitchen, 3 bathrooms 1 with shower. Separate office. Newly renovated, currently leased as yoga studio.

$319,000

MLS® H3100324

Lease Space Available $18-$19.50

Agassiz

16,640 sq.ft. Strip Mall on the busiest street in Chilliwack - completely renovated w/ new addition & façade. Excellent traffi c count, great exposure & visibility from road. 78 surface parking stalls w/ mall access from Yale Road. Available for lease $18$19.50 per sq.ft., 5,866 & 5,802 & 1553 sq.ft. Able to make smaller units if requested. Building & Property also for Sale. Building can be stratified – sold in 1 or 3 units. Sale Price: $3,950,000

8 Unit Mall - only unit available. 1,364 sqft strata commercial end unit. High profi le commercial strip mall! Located in Agassiz’s “Village Square” an attractive 8 unit 3 year old complex in high traffi c area. This is ready for owner improvements and your creative ideas. Join the successful businesses including: Subway, Waal & Co., and Movie Source to name a few. Well priced, well located, with immediate possession possible. $174,900

Toby's 4,400 sqft. Building on 8,000 sqft. lot with a large bay door, offi ce space and upstairs residential. Great for a business owner looking to own their own REAL ESTATE. In a busy commercial residential area, this building has so much potential. $699,000

Lellow Great opportunity to own your own business on Mill Street in the heart of Chilliwack. Close to restaurants, school and other specialty stores. Steady clientele, great owner/operator business. $29,900

Dakotas – Approx. 4 years old Silvano's 100 seat restaurant in Agassiz with excellent income for sale. Business only for $279,000 or Building and Land for $670,000. New Renovations, Full Kitchen, A/C, Fully Licensed, Room for 60 seat patio add on! Don’t miss out on this great investment opportunity, with its own clientele already established.

Pantry - The Pantry in Chilliwack

Excellent Franchise opportunity you don’t want to miss. All information available, call for Complete Package!! This is priced to sell. Don’t wait.

Going Concern in busy Shopping Center with Safeway, Liquor Store, HSBC, & Envision Bank. This Restaurant is gorgeous! 5,605 leasable space. Includes all chattels. Over $800,000 in tenant improvements. If you are looking for a restaurant this has EXCELLENT VALUE. Good customer base, asset sale only, you would never be able to build this restaurant for anywhere near this price.

$89,000

$219,000

$279,900

$199,000

Quiznos’ – Busy Sardis location

Lindsey Gauthier Personal Real Estate Corp.

A profi table franchise restaurant. Priced right for net income. Banquet room seats 230, conference room holds 50 seats, restaurant has 120 seats and 60 patio seats. All interested parties must be approved by franchise.

GauthierTeam.com

showplace realty ltd.


A18 Lower Mainland/Sea to Sky/Sunshine Coast SUNSHINE COAST - GIBSONS GIBSONS CINEMA

SUNSHINE COAST - SECHELT OFFERS FAMILY BUSINESS OPPORTUNITY

s2ECENTLYUPDATEDTOTHENEW $ $IGITALHIGHTECHPROJECTION $IGITALSOUND SYSTEMATACOSTOF sSEATS LARGELOBBYCONCESSION'OODPROlTS STEADY GROWTHSINCETHESs4URNKEYSETUP &ULLY MANAGED %XCELLENTGOODWILLs'REATBUYFORA STEADYINCOME.EWERATTRACTIVELEASEANDMORE MLS#: V4028345 LP: $199,000

SEARS Dealer Store in downtown Sechelt. As an owner you are backed by SEARS outstanding reputation for â&#x20AC;&#x153;Satisfaction Guaranteedâ&#x20AC;? and â&#x20AC;&#x153;Price Matchingâ&#x20AC;?. SEARS provides showroom inventory at no cost â&#x20AC;&#x201C; earn commission based on what you sell. No franchise fee. angiesita.com - view slideshow. Offered at $190,000

Len Robinson 604-989-8348 Cell RE/MAX 1-800-895-4313 Oceanview Realty

Angie Sita 1-800-895-4313 email: angie.sita@dccnet.com

lenrobinson@dccnet.com

RE/MAX Oceanview Realty Ltd.

JANUARY 2012WESTERN INVESTOR

SQUAMISH INVESTMENTS 98 Unit Oceanfront Development Site $2.94 mil

New Strata Office Space Dwtn Lease space available

$170k +

13.25 acre Commercial Site on Hwy 99 Holding income campground/motel $2.5 mil

Industrial Revenue Property

$1.1 mil

18,919 SF Dev Site Dwtn Bank Corner at key intersection $1.194 mil Pub and Real Estate 4,000 sf on ½ acre, 163 seats

Darren McCartney 604-892-4875 darren.mc@shaw.ca

$699k

10 acre Riverfront Lots

$1.175 mil +

Retail for Lease off Hwy 99 1,300-10,000 SF Adjacent to Home Depot, Walmart & Rona Commercial Site on Hwy 99 $1.65 mil C-3 gateway site: DP for 82 unit hotel, Zoning for: drive-thru, gas, restaurant

RE/MAX Sea to Sky Real Estate Squamish

BUY

Your hunt for the right investment could be right in the pages of the Western Investor. Every month youâ&#x20AC;&#x2122;ll find over $2 Billion worth of opportunities.

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

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


A19

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

INVESTING101 Novice investors took plunge on becoming landlords in small-town British Columbia

#VZ SFOU TFMM BOEQSPGJU irst time investing can feel a little intimidating in the beginning. As a young professional couple, we questioned whether investing was a smart idea at all.

'

We worried about risking our savings and taking out another mortgage. If we had extra finances, why not use it to pay down our current mortgage? We were concerned about finding the right property to invest in. How far would we need to travel to get something in our price range? How would we know if we were getting a good deal? Then we knew we’d have the ordeal of finding good tenants and maintaining a property from afar. With both of us being academics, rather than handy or businesslike, these were real concerns. Yet, we saw that real estate had the potential of bringing in a better return on our investment than did our measly 2.5 per cent “high-interest” savings account. We could keep a property short term and bring in a chunk of money to apply to our next real estate purchase or another investment.

8IFSFUPTUBSU

we were so far away. During the four years we owned the suite, we had three different rental experiences – a rental pool and two different property managers. In the rental pool, several units pooled their rents together and then split it proportionally (by square feet), regardless of whether units were rented or not. This allowed for a regular income stream, but in the end felt frustrating to those whose units were always rented.

INVESTING101

jected and residential vacancy rates were low. We chose Kimberley, B.C., which had opened a ski resort and had an airport close by. The only problem … it was 12 hours away. This meant we had to get pre-approved with a good mortgage broker who could act from afar if necessary. We also had to check out what had been selling, what the average prices were and what units were renting. And finding a good realtor was essential. We phoned and emailed with a couple before settling on one we believed we could trust. By the time we visited, we were in good position to view suites of interest to us and make offers on any good deals we saw. We wasted some time getting distracted by nicer places rather than what we could afford. On the other hand, it was still important to do the work to find a unit that would be easy to rent at a decent rate. So, we spent a lot of time understanding the area, looking for an accessible building with a great location and amenities nearby. After viewing several units, we found the one we wanted to make an offer on. We made sure to do our due diligence: read the strata minutes, walked the suites, got a home inspector in, talked to neighbours and collected as much information as we could. Eventually, we bought a 600-square-foot condo on the ground floor of a low-rise building, which was walking distance to town centre and a short drive from the ski hill.

To start, you need to decide what to invest in and how much money you want to put into it. In our case, as people who generally avoid risk, we decided on finding something we could afford, where the rent would pretty much pay for the mortgage. For us to feel secure, that meant looking for out-of-town older residential apartments. &YQFOTFT We were surprised by all the costs we hadn’t 'JOEJOHBQSPQFSUZ anticipated with our investment property. In Finding an area was our first challenge. We the end, the rent we received did not cover our looked at small towns with properties in our costs and we had to subsidize it by about $100 price range, and tried to locate places where big per month when the suite was rented, and $500 companies were moving to, growth was pro- when it was not. Think about how much you

.BOBHFNFOU

Liesl and Kevin Staley Investors Professional working couple Investment Rental condo Strategy Buy, rent out, sell Time frame 4 years Bought for $50,000 Rented for $400 per month Sold for $85,000

are you able to put into this at the beginning and throughout. At the outset, consider not only the down payment, mortgage and legal fees, but any potential upgrades you may require to attract a higher rent. On an ongoing basis, remember you’ll need to cover strata fees, maintenance, insurance, property taxes (with no homeowner’s grant). Also, we found city utilities in a small town astronomical compared with our residence in the city. In addition, don’t forget to set aside money for emergencies – months when your unit sits vacant when a tenant bails, replacing appliances or special levies. And don’t forget about capital gains tax when you sell.

5FOBOUT

Finally, we found an excellent solution – an independent property manager. He charged us 10 per cent of the rent, but found us a tenant who never left. He also had excellent relationships with service providers, including a plumber, electrician and carpenter, so repairs could be quickly handled. Having the property manager gave us the peace of mind that our property was being looked after. Our strata also voted on being able to communicate and vote electronically if necessary. Above all, we found that one of the best methods to ensure that our unit was looked after was to show extra appreciation to everyone involved.

$BTIJOHPVU

In the end, no matter how pleasant your situation is, you are still looking to make money on your investment. For us, as we saw prices rising, we allowed our place to sit vacant, got i repainted again and put it on the market. After four years, we decided it was time to liquidate our investment property. We made quite a good profit, something that never could have happened in four years with a savings account. Overall, buying and selling our first investment property was a scary but exhilarating process. This experience gave us the confidence that we can buy and sell real estate. In the end we made a chunk of money we never would have if we didn’t take the risk, and look forward to taking the plunge again.◆

To attract a good rental income, you want to make your apartment as appealing as possible to tenants. This can mean getting it properly cleaned, painted and perhaps replacing cupboards or appliances that are outdated to give your suite an edge over others in the building. We lucked out by finding a reliable person to check our suite between tenants, and a good, affordable painter. This column first appeared in Real Estate Although we could have directly managed Action, a book published by Jurock Publishing the tenants, we decided to get some help as Ltd. (www.jurock.com).

7BODPVWFS*TMBOE

VANCOUVER ISLAND COMMERCIAL www.nanaimoremaxcommercial.com

1-877-335-4380

Jay Cousins Realty

FOR SALE

Jay Cousins jay@jaycousins.com

INVESTMENT OPPORTUNITIES

UÊ 1/9Ê 6 "* /Ê -/ - approved for 16 UÊÊ " , Ê <" Ê 1  Ê EÊ *,"* ,/9Ê – Close units. No DCC’s, close to downtown Nanaimo with some ocean to Downtown Nanaimo, 2,800 sq. ft. over 2 levels, busy location views. Development permit in place, vendor financing available with high visibility storefront. Uses range from car sales lot to or joint venture possibilities.ÊÊ fÎÓä]äää restaurant/retail $249,900 UÊÊ ,"/" ]Ê, - /Ê 6 "* /Ê-/ - A 5.68 acre development site with an excellent ocean view and a short walk to the waterfront. The site is gently sloping towards the ocean with a variety of benches for easy development. Vendor financing may be available with a reasonable down payment. fÈ{™]äää UÊÊÊ /,Ê  " – Almost 2 acres of land fronting on the Millstone River, and next to the Pryde Vista golf course. Located next to a new high quality subdivision on a no thru street. Zoning allows for a single family unit with a suite. New on the market with full city services at $200,000

UÊ 1  Ê  Ê  Ê "7 /"7 Ê  "Ê ", Ê qÊ Main thoroughfare location has great exposure, paved lot, building has 3 bay shop, storage, 2 offices, plenty of uses permitted. Motivated owner $449,000 UÊ nÊ1 /Ê1/‡, - /Ê*,"* ,/9ÊOld City Nanaimo 100 Yr Old well maintained character building, new decks, new appliances, bonus lot at rear shows potential for additional 4 plex development. $479,900 UÊ 7 Ê  "7 Ê *",/Ê  , Ê  ,Ê 1  Ê qÊ Currently used as offices & union hall, approx. 6,990 sq. ft. over 3 floors. P1 zoning allows public assembly, but could be commercially rezoned. $995,000

UÊ "1,/Ê ", , Ê - - Vacant, 2,160 sqft warehouse. Undeveloped upper level with two large open areas, and two UÊ /Ê  1-/,Ê <" Ê "* 8Ê qÊ  ‡- Ê 2-piece washrooms. Main floor is accessed by a pedestrian door Great revenue opportunity potential to generate $164,000 annuand 2 overhead doors. Lower level, of about 2000 sqft, accessed ally. Island Highway exposure, easy access, 6 buildings in total, all by a pedestrian door and 1 overhead door. $259,000.00 on 2.88 acres. Rental rates with vacancies filled will show nearly 8% CAP rate.Ê Ê f£]n™x]äää

U 1/‡/  / Ê 69Ê 1-/,Ê*,"* ,/9Ê – Parksville area. 6.2 Acres partially developed with new warehouses, new 4 unit multi-res work/live space, new office building plus existing build to suit tenant in place on 1 acre portion w/ paved & security fenced area. Further 2.5 acres left to continue development plan. Potential income under current configuration in excess of $164,000 annually. REDUCEDÊf£]™xä]äää

FRANK JOHNSON

JAY COUSINS

of Nanaimo

Frank Johnson frank@remaxofnanaimo.com

INVESTMENT OPPORTUNITIES UÊ -//9½-Ê, -/1, /Ê, - Ê Ê-"1/Ê  "ÊÊ On free standing pad in mall location, 135 seats, 5000 sq ft, 5 year lease w/options to renew, 8 year old highly profitable $299,900 operation in same location. UÊ " , Ê 1  Ê EÊ  Ê  Ê 1  Ê Property has theatre building with 2 levels plus fully equipped kitchen & hall downstairs. Zoned C1 General Commercial provides uses for churches, fitness studio, schools, office use, retail & wholesale use. $449,000 UÊ {‡* 8Ê 1/‡, - /Ê *,"* ,/9 – Parksville Attractive location, quality tenants on yearly leases, ocean view from upper suites, C-3 zoning can potentially allow higher commercial or mixed uses in future. , 1 Êfxnx]äää UÊ£{Ê1 /Ê"/ Ê7/ÊÈÊ1 /Ê,6Ê*,Ê – 2 level manager’s residence with office/reception. Outdoor pool, no deferred maintenance issues, consistent highly profitable revenue shows 11% cap. One of the nicest hospitality properties in the mid-Island area. f£]Ó{™]äää U "1,/Ê", , Ê- ÊqÊ ‡- ÊqÊx°™ÎÊ  , -Ê Industrial zoned land with newer 14,580 sq ft. warehouse, 4,410 sq ft. shed for storage and office building. Two level topography, fenced, easy access to highway. Was lumber facility. f£]ÇÈn]äääÊ UÊ , ‡ 6 "* /Ê "**",/1 /9Ê Existing Alzheimers/ dementia care facility w/90 beds plus separate residential home available for conversion to congregate care or rezone to multi-residential etc. 44,255 Sq. Ft. building on 1.87 acres near Nanaimo hospital. Society owner will remain with one year lease at current market rents during planning/feasibility phase of redevelopment. $4,500,000

JAY COUSINS

www.nanaimoremaxcommercial.com

1-877-423-0984

INVESTMENT OPPORTUNITIES UÊ-/,/Ê1 /Ê Ê 1-/,Ê*,ÊqÊ  " Approx. 1,300 Sq. Ft. Light Industrial, 2 overhead doors, 2 man doors, office, 18’ ceilings, Strata Fee is $56.50 per month. $259,000 UÊ £™Ê1 /Ê,6 ,," /Ê"/ Ê" ÊÓÊ , -Ê Ê*,-6 Ê Unique rural feel to property with fourplexes, duplexes, and single freestanding units. Redevelopment opportunity includes existing revenue stream, owners residence, large open area, City water and a motivated seller. $859,000 UÊ /7"Ê  6 Ê -/,/Ê 1 /Ê qÊ *,-6 Ê Service Commercial zoning. Main level warehouse with 6 offices, staff kitchen & washroom upstairs. Full A/C on 2nd level as well. Owner is willing to lease back. $325,000 U " Ê /9Ê+1,/ ,Ê*, Ê" /" Over 3500 sq.ft. of DT2 Commercial space on 3 levels. Complete renovations in 1992 including thermo windows, 5/8 firestop between floors, sprinkler system, separate hydro etc. Suite on top floor has ocean views, a nicely updated property & wonderful character investment in a thriving downtown community. $399,000 UÊ, Ê7/Ê1 Ê " Ê High visibility Mid-Island location, concrete engineered docks, steel pilings, security gate with ramps, direct metered 50 amp hydro capacity. Quality look and feel, no vacancies, excellent cash flow. f£]Ǚx]äää UÊÎÊ*, Ê 6 "* /Ê*"/ /Ê" Ê*,-6 É  , Ê79ÊApprox.Ê79 Acres, corner location. Mining permit in place for pit run, crushing, screening & washing gravel. Owner has been careful to maintain character of the land. Currently zoned rural residential, but highest & best use would indicate development rezone. $5,900,000

BUSINESSES U Used books / consumer services retail – Nanaimo UÊSeasonal Wreath Business – Qualicum U Gifts / Home furnishings retail – Qualicum Beach U Ricky’s All Day Grill Franchise – Courtenay

JAY COUSINS

$94,000 f£Ó™]äää $229,000 $299,000


A20 Vancouver Island

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

8.5% Cap Rate FOR SALE

Full Property Management Services (Residential and Commercial) including Facility Management Services in Victoria and

33 x 3 bedroom town houses with 2 separate titles Many upgrades

Prince Rupert, B.C.

Great locations

For Sale 2.05 Acre Prime Development Site - North Nanaimo

$2,900,000

On Old Island Highway adjacent to Long Lake.

Light Industrial Land and Buildings - Chemainus

$1,995,000

3.83 acres with 5 buildings on site.

Contact Dale Schuss

$2,200,000

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

www.randallnorth.ca

Business Is Better On Vancouver Island

For further information:

whitecapltd@hotmail.com

253 Acre Development Property - Sproat Lake

$1,700,000

Commercial Land and Building - Parksville

$1,495,000

0.85 acre with 3,870 sq ft building on Island Highway.

3.79 Acre Light Industrial Land - South Nanaimo

$1,395,000

Suitable for single or multiple users/uses and subdividable.

Fully Tenanted Investment Property - Ladysmith

$ 945,000

Strata Commercial Unit - Central Nanaimo

$ 849,000

4,417 sq ft office with 12 offices, boardroom, reception and lunchroom.

Commercial Development Property - Nanaimo

$ 795,000

1.2 acres with CC-1 zoning beside Nanaimo Parkway.

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Lakefront Pub and Land - Lake Cowichan

$

674,000

Approximately $300,000 spent on improvements since February 2009.

New Office and Commercial Building - Central Nanaimo

$ 649,000

1 space left in new building on Terminal Avenue, approx 2,075 sq ft.

Commercial Property - Alberni Highway

$ 590,000

1.11 acres with exceptional highway frontage.

Â&#x2021; 3RWHQWLDOWRHDUQ..DQQXDOLQFRPHKHOSLQJFOLHQWVWR  DYRLGEDQNUXSWF\DQGUHVWUXFWXUHWKHLUÂżQDQFHV Â&#x2021; 'HEW&RQVXOWDQWORFDWLRQVVWLOODYDLODEOHLQ9LFWRULDLQ&RZLFKDQ  9DOOH\ LQ1RUWK,VODQG 3DUNVYLOOH 1RUWK 1DQDLPRDYDLODEOHLQ Â&#x2021; 7XUQNH\EXVLQHVVZLWKH[WHQVLYHWUDLQLQJDQG  RQJRLQJVXSSRUW'HEW&RQVXOWDQWSURJUDP  OLFHQVLQJWUDLQLQJ)HH

Residential Development Property - Nanaimo

$ 549,000

4.88 acres near the Nanaimo Parkway.

3.46 Acre Light Industrial Property - South Nanaimo

$ 549,000

Court Ordered Sale - Waterfront Restaurant, Land, Building

$ 470,000

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

Commercial Land and Building - Campbell River

$ 450,000

Commercial Property Zoned COR-3 - Nanaimo

$ 325,000

2 lots on Kerrisdale Road totaling 19,600 sq ft.

Character Office Building - Nanaimo

$ 289,000

950 sq ft, high traffic area. Corner lot, 4,050 sq ft, zoned DT-8.

Hangar Building and Office - Campbell River Regional Airport

$ 289,000

Commercial Property Zoned COR-3 - Nanaimo

$ 260,000

9,800 sq ft lot with 1,037 sq ft office off Bowen Road.

Light Industrial Strata Unit - Nanaimo

$ 219,000

Approximately 1,315 sq ft unit new and unused for your business.

Featured Listings Investment Property Located in Coombs, this 18.81 acre site on the Alberni Hwy includes a mobile home park and commercial lease revenue. Well priced at an 8% cap rate.

Offered for sale at $2,775,000 Heavy Industrial Property

ED HANDJA PERSONAL REAL ESTATE CORP.

www.bcoceanfront.com

*Â&#x2026;Â&#x153;Â&#x2DC;i\Ă&#x160;ÂŁÂ&#x2021;nääÂ&#x2021;xĂ&#x2C6;Ă&#x17D;Â&#x2021;Ă&#x2021;Ă&#x17D;Ă&#x201C;Ă&#x201C;Ă&#x160;UĂ&#x160; iÂ?Â?\Ă&#x160;Ă&#x201C;xäÂ&#x2021;Ă&#x201C;nĂ&#x2021;Â&#x2021;ä䣣Ă&#x160;UĂ&#x160;i`Â&#x2026;>Â&#x2DC;`Â?>JLVÂ&#x153;Vi>Â&#x2DC;vĂ&#x20AC;Â&#x153;Â&#x2DC;Ă&#x152;°VÂ&#x153;Â&#x201C;

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

Offered for sale at $2,000,000 Seniors Care Facility - Ladysmith

$ 1,700,000

5 acres of oceanfront with plans in place for 24 additional units.

Saratoga Beach Golf Course - Black Creek

ED REDUC

$ 1,495,000

37.47 acre redevelopment property with executive style golf course.

Unique Commercial Offering - Downtown Nanaimo

$ 1,375,000

5,500 sq ft warehouse/shop, 1,400 sq ft house and parking lot.

Green Rock Industrial Park 9,710 to 59,376 sq ft $199,000 to $834,000

24 Light Industrial Lots in prime Nanaimo Location Excellent highway access and â&#x20AC;&#x153;Greenâ&#x20AC;? construction.

* Ă&#x160;,6 ,Ă&#x160;- Ă&#x160;6 Ă&#x160;EĂ&#x160;,6 This Ă&#x201C;°Ă&#x2021;Ă&#x201C;Ă&#x160;>VĂ&#x20AC;iĂ&#x160;Â&#x153;Vi>Â&#x2DC;vĂ&#x20AC;Â&#x153;Â&#x2DC;Ă&#x152; and Ă&#x192;iÂ&#x201C;Â&#x2C6;Â&#x2021;Â&#x153;Vi>Â&#x2DC;vĂ&#x20AC;Â&#x153;Â&#x2DC;Ă&#x152; multi-residential property and existing RV business is located in Campbell River on Vancouver Island. There is substantial frontage on Highway 19A with Ă&#x2022;Â&#x2DC;Â&#x153;LĂ&#x192;Ă&#x152;Ă&#x20AC;Ă&#x2022;VĂ&#x152;i`Ă&#x160;Â&#x153;Vi>Â&#x2DC;Ă&#x160;Ă&#x203A;Â&#x2C6;iĂ&#x153;Ă&#x192; of Discovery Passage and the northern Strait of Georgia. This is a yearround business in a prime development location, just minutes from town. $1,699,000

*",/Ă&#x160; Ă&#x160;, /Ă&#x160; "* 8 Practical & functional rental complex on Â&#x153;Ă&#x20AC;Ă&#x152;Â&#x2026;Ă&#x160; 6>Â&#x2DC;VÂ&#x153;Ă&#x2022;Ă&#x203A;iĂ&#x20AC;Ă&#x160;Ă&#x192;Â?>Â&#x2DC;`, made up of Ă&#x192;iĂ&#x203A;iÂ&#x2DC;Ă&#x160;Ă&#x201C;Â&#x2021;Li`Ă&#x20AC;Â&#x153;Â&#x153;Â&#x201C;Ă&#x160; Ă&#x2022;Â&#x2DC;Â&#x2C6;Ă&#x152;Ă&#x192;, situated across from the marina & a short distance from local amenities. This low-maintenance building has a Â&#x2026;Â&#x2C6;Ă&#x192;Ă&#x152;Â&#x153;Ă&#x20AC;Â&#x2C6;V>Â?Â?Ă&#x17E;Ă&#x160; Â?Â&#x153;Ă&#x153;Ă&#x160; Ă&#x203A;>V>Â&#x2DC;VĂ&#x17E; rate & direct access to some of the best marine adventure in BC. It is an ideal & affordable consideration for a rental income property. $295,000

"  ," /Ă&#x160; * Ă&#x160;,6 , This attractive 3-level, Ă&#x17D;£ääĂ&#x192;ÂľvĂ&#x152; character home is >Â&#x2DC;Ă&#x160; Â&#x2C6;`i>Â?Ă&#x160; E , vacation rental or home-based business with 5 bedrooms, 6 bathrooms, and 3 natural gas ďŹ replaces.Great opportunity to work where you live in west coast style! You are just minutes walking from all the amenities of town and marinas. Stunning ÂŁnäcĂ&#x160;Â&#x201C;>Ă&#x20AC;Â&#x2C6;Â&#x2DC;iĂ&#x160;Ă&#x203A;Â&#x2C6;iĂ&#x153;Ă&#x192; of Discovery Passage and Quadra Island. $577,500

" , Ă&#x160; 1  ]Ă&#x160;-- / This is a Ă&#x20AC;>Ă&#x20AC;iÂ?Ă&#x17E;Ă&#x160;>Ă&#x203A;>Â&#x2C6;Â?>LÂ?i investment opportunity for this area, a commercial lot & separately titled ÂŁĂ&#x2C6;Ă&#x201C;xĂ&#x192;ÂľvĂ&#x152; commercial building currently being operated as a clothing store in downtown >Ă&#x192;Ă&#x192;iĂ&#x152;. The property is an ideal space for a number of business applications as the commercial zoning allows for retail, restaurant, or business space. Price includes the lot as well. $140,000

Business Opportunities SEWING MACHINE AND QUILTING RETAIL BUSINESSâ&#x20AC;&#x201D;Nanaimo

$ 180,000

FRANCHISED FAMILY RESTAURANTâ&#x20AC;&#x201D;Ladysmith

$ 189,000

AWARD-WINNING KITCHEN AND BATH BUSINESSâ&#x20AC;&#x201D;Sidney

$ 214,000

ESTABLISHED PLUMBING AND HEATING BUSINESSâ&#x20AC;&#x201D;Nanaimo

$ 225,000

ESTABLISHED RESTAURANTâ&#x20AC;&#x201D;Tofino

$ 249,000

JUMPING JIMINYâ&#x20AC;&#x2122;S PLAYLAND AND CAFĂ&#x2030;â&#x20AC;&#x201D;Nanaimo Well known childrenâ&#x20AC;&#x2122;s entertainment business

$ 419,900

ESTABLISHED PLUMBING AND HEATING BUSINESSâ&#x20AC;&#x201D;Nanaimo On 7,560 sq ft lot with 1,300 sq ft building

$ 550,000

RETAIL BUSINESS & DEMOLITION CONTRACTOR â&#x20AC;&#x201D;Central Vancouver Island New and used building materials

$ 775,000

LIQUOR STORE IN LEASED PREMISESâ&#x20AC;&#x201D;South Vancouver Island

$1,500,000

PUB AND LIQUOR STOREâ&#x20AC;&#x201D;Coombs

$1,900,000

FRANCHISED MOVING AND STORAGE CO.â&#x20AC;&#x201D;Central Vancouver Island

$2,550,000

Gerry Van Vaals Personal Real Estate Corporation DTZ Barnicke Nanaimo Ltd. gerry.vanvaals@dtzbarnicke.com

Tel: 1 800 769 5757

www.dtznanaimo.com


Vancouver Island A21

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

– which will require 14 million cubic metres of earth and 830,000 cubic metres of conventional concrete to build. “There will be large-scale clearing and timber removal at the site. A million cubic metres of merchantable timber will be harvested,” he said. “Two 500-kilovolt transmission lines will deliver the power from the dam.” An existing transmission line right of way will have to be widened by 38 metres to accommodate the lines, Douglas said. A total of 25 kilometres of Highway 29 will ontracts for the proposed Site C hydrohave to be restructured, including four new electric dam on the Peace River could begin being signed a year from now – over a river crossings, he said. Six turbines, with a combined capacity of year before federal and provincial regulators 1,100 megawatts, will be installed in the dam, are expected to rule on the controversial he added. project. Two construction camps, one on the north BC Hydro Site C commercial manager Mike and one on the south bank of the Peace River, Savidant said the company intends to begin will need to be built and operated, he added. putting contracts in place for initial works “It’s an enormous project,” Initiatives – such as access roads and tree clearing – as Prince George president Tim McEwan said. early as late 2012 or early 2013. “What we’ve been trying to do is get the word “BC Hydro is really looking forward to a out ... and to continue to build the relationvibrant and competitive procurement process,” Savidant said. “I’m confident there will ship with BC Hydro.” – Arthur Williams/Prince George Citizen be a significant amount of B.C. content in the project.” Savidant said companies in B.C., and especially northern B.C., will have some advantages during the procurement process, but BC Hydro must “look for value for money for the rate payer.” Bidding on components of the dam project eorgia, U.S.A-based Atlas Roofing will be done through the BC Bids website, Corp. has chosen Annacis Island in Savidant said, and businesses can register on Delta for its second manufacturing plant in BC Hydro’s business directory to receive noti- Canada, citing strong transportation and fication about projects as they go to tender. ports as key reasons. BC Hydro project engineer Simon Douglas “Vancouver has excellent highway access to said the project will include a wide variety of the U.S. and ocean ports for shipping prodmaterials and expertise to build. ucts,” said Tom Rowe, Atlas vice-president, Up to 1,700 workers will be employed commercial sales and marketing. directly on site at the peak of construction, The 140,000-square-foot plant, being retDouglas said. rofitted from an old paper-making facility, Building the dam will require the construc- will be operational by February 2012, Rowe tion of cofferdams and two 9.8 metre-wide said. He said the plant is costing Atlas from diversion tunnels between 700 and 800 $12 million to $13 million, and will employ at metres long. least 50 people when at full production. “Thirty-eight million cubic metres of mateAtlas produces roof and wall insulation. The rial will need to be excavated,” Douglas said. company has 17 plants across North America, Approximately 2.4 million cubic metres including Toronto. Rowesaid the Annacis of roller-compacted concrete will be used to plant will serve customers in Western Canada lay the foundation for the earth-filled dam and the states of Washington, Oregon and 8)"5¤4)"11&/*/(*/

Contractors ready for Site C’s big spending spree

C

U.S. manufacturer plans B.C. plant

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W

hen Port Coquitlam became the first municipality in Canada to mandate green roofs on large commercial buildings in 2006, developers were skeptical. The zoning bylaw required green roofs on all new buildings of more than 5,000 square metres (53,281 square feet). Now, however, the 650,000-squarefoot Freemont Village in Port Coquitlam by the Onni Group is seeing both a 151,300-square-foot green roof planted atop large Wal-Mart and a new Canadian new Wal-Mart in Port Coquitlam. Tire store outfitted with green roofs – and they are not the first or the last. Onni development manager Mike Mackay said that the $1 million Wal-Mart green roof, covering 151,300 square feet, cost three times more than a conventional roof. But McKay said the extra cost should pay off in both public relations and long-term energy savings for clients. The Wal-Mart roof is planted with a variety of local and foreign plants, including California poppy and Arctic bluegrass. McKay said that, aside from Wal-Mart and Canadian Tire, three more buildings in the bigbox Freemont Village could have green roofs installed. According to city officials, the main purpose of the green roof policy is to obtain environmental benefits including reducing storm water run-off, improving building thermal performance and energy consumption and reducing the urban heat island effect. The city estimates that the higher cost of green roofs are normally recovered within the first two years of building operation, while the energy savings and storm water reductions continue for the life of the building. Laura Lee Richard, director of development services for the City of Port Coquitlam, said there is a variance policy that allows developers to not include a green roof if other energysaving and environmental issues are addressed. For instance, a larger unheated industrial warehouse project required a green roof just over the office area of the building, she said. Green roofs are not required on smaller commercial and industrial buildings, she added. However, resistance remains. Some developers cite the ongoing maintenance costs associated with green roofs, while roofing contractors worry about repairing leaks that may be buried beneath soil and plants. Photo: Onni Group

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Idaho. Atlas also plans to ship its product to Alaska and eventually Asia through the Port of Vancouver.

Condo inventory tightens in Metro

T

he inventory of completed and unsold condominiums in Metro Vancouver may be less than 1,500 units and one-third of

NANAIMO | VANCOUVER ISLAND DEVELOPMENT AND INVESTMENT OPPORTUNITIES TWO PRIME LOCATIONS WITH HUGE POTENTIAL AS CAREHOME OR CONDO SITES

LANGFORD CONDO SITE APPROVED FOR UP TO 188 UNITS EXCELLENT LOCATION LOCATED NEXT TO COSTCO, FOUR POINTS SHERATON, HOME OUTFITTERS AND OTHER HIGH PROFILE RETAILERS 2.34 ACRES OF INCREDIBLE POTENTIAL $4,399,000

COMOX EXCELLENT SITE FOR CAREHOME OR CONDO DEVELOPMENT $3,000,000 CENTRALLY LOCATED AND ADJACENT TO MAJOR BRANDS SUCH AS: SHOPPERS DRUG MART, SUBWAY, A&W Please visit our website or call for more details.

monarkinvestments.ca

604-592-7250

Financing Available. Potential Trades.

DEVELOPMENT OPPORTUNITY WITH OCEAN AND CITY VIEWS Upscale development in the University area for 10 residential lots and 26 luxury townhomes. This development project has all the necessary plans, reports and approvals in place. Development Permit for construction can commence within a short period of time. CALL DARWIN NEW!! BARSBY ON THE MILLSTONE A great development opportunity for a well designed 58 unit Condominium Project on 1.14 acres of land on the Millstone River. Located within the no DCC zone of the City of Nanaimo, this project offers an immediate connection to the E&N trail as well as the miles of seawall on the Harbour only 3 blocks away. Development Permit ready. ASKING 1.55 M, CALL DARWIN MULTI – USE DEVELOPMENT SITE One of the remaining development sites within the main service corridor of the Chase River neighbourhood – South Nanaimo. With approx. 4.3 acres of usable lands and excellent access directly off Hwy 19A via traffic light. This site has excellent potential for a wide use of mixed Commercial-Residential developments. 2.8M, CALL DARWIN

EXCELLENT REDEVELOPMENT PROPERTY W/ EXISITNG MOTEL Enjoy the existing holding income from the current motel complex while planning a new 6 storey commercial/ residential mixed use complex. Great location near Hospital Node where demand exceeds supply for strata medical offices. Excellent exposure to Highway 19A and great access from rear of property with easy design for underground parking. 1.5M CALL DARWIN

COMMERCIAL HARBOUR REALTY LTD VANCOUVER ISLANDS LEADER s,AND5SES s$EVELOPMENT)NITIATIVESTHROUGH to completion s0ROTECTSAND-ARKETING s)NVESTMENT s)NSOLVENCY s2EAL%STATE!DVISORS

BUSINESS OPPORTUNITY AT THE RESORT BEACH CLUB – PARKSVILLE B.C. “Perfectly Positioned Spa” in the Newest 4 Star Hotel Resort in Parksville B.C. A turnkey operation, elegantly designed treatment room, the latest equipment and spa line products, topped off with an unbelievable LEASE. CALL BILL SOREG for Details. COMING SOON Rental Investment Homes with Suites (may be non conforming for the avid investor) METRO VANCOUVER INDUSTRIAL BUILDING CLOSE TO CITY CENTRE Located in close proximity to downtown Vancouver and Commercial Drive. Older industrial building on 5,808 sq. ft. of land. Building fully occupies site. Grade level loading door, separate entrance door. Two offices, one half bathroom, great for a storage facility. Priced @ $727,000. CALL ROB

JUDY GRAY, CCIM 1.800.600.1718 Suite 103–1801 Bay Street, PO Box 195, Ucluelet. BC. MID-ISLAND REALTY Canada V0R 3A0

DEVELOPMENT LAND Spring Cove, Ucluelet Inlet, 1.25 acre, Tourist Commercial Zoning $345,000

CLEARED, SURVEYED, VIEWS 3 lots 18,720 sq. ft., corner lot Main entrance to town $369,000

160 ACRES BORDERING PARK Close to hwy Some timber, gravel road access $1,540,000

OCEANFRONT HOTEL SITE 13.76 AC Fully treed, open Pacific Ocean waterfront www.oceanwest.com $9,000,000

1.58 ACRE SEMI-WATERFRONT Park in front, Pacific Ocean views CD2A zoning, high tourist & local area Reduced to $750,000

Darwin Mahlum Robert Borden 250.760.1066

these are in three projects, according to Mark Belling, president of Fifth Avenue Marketing Ltd. Belling told a recent Housing Outlook Conference in Vancouver that most of the unsold condominiums are in Vancouver’s Olympic Village, the Pinnacle project in North Vancouver and Morgan Crossing in South Surrey. “Our total standing inventory represents about a six-and-a-half-month supply. A very comfortable number,” he said.◆

Information brochure available.

www.judygray.com


A22 Vancouver Island

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

For Sale

24 Suite Apartment Building Nanaimo, BC Â&#x2021;2QHKDOIEORFNIURPRFHDQZDWHUIURQW Â&#x2021;6XSHUEHDVWHUQZDWHUYLHZV Â&#x2021;([FHSWLRQDOO\ZHOOPDLQWDLQHG Â&#x2021;/DUJHVTIWORW

$VNLQJ 'DYLG 0DUN*RRGPDQ_+45HDO(VWDWH6HUYLFHV,QF_

*UHDWHU9DQFRXYHUÂśV0XOWL)DPLO\,QYHVWPHQWV5HVRXUFH 9LHZGHWDLOVRIDOOOLVWLQJVDQGVDOHVDWZZZJRRGPDQUHSRUWFRP

NANAIMO & VANCOUVER ISLAND PROPERTIES

 Ă&#x160;  Ă&#x160;- ",// Ă&#x160;UĂ&#x160;/" Ă&#x160; , Ă&#x160;ÂŁÂ&#x2021;nääÂ&#x2021;Ă&#x2C6;Ă&#x2C6;xÂ&#x2021;nĂ&#x17D;ÂŁĂ&#x17D; FORECLOSURE COURT ORDERED SALES 3 ACRE TOWNHOME DEV SITE Stunning ocean view up to 30 units. $995,000

DEVELOPMENT SITES & LAND OCEAN VIEW DEVELOPMENT SITE 21 condos or 8 townhomes. $379,500 JUST LISTED; FANTASTIC OCEAN VIEW RM-5 Dev site, unrestricted views, overlooks cruise ship pier. Approved for 35 condos, No DCCâ&#x20AC;&#x2122;s. $729,000 6 ACRE DEVELOPMENT SITE Zoned RM5, 4 Phases approved for townhome & condos. Central Nanaimo. Asking $1,850,000 FINANCING AVAILABLE

NANAIMO BEST BUY! MIDRISE DEVELOPMENT SITE Located in the Downtown core. Nanaimo: Commercial or condo site. $269,000 NOW $199,000 Excellent Buy 2 ACRE COUNTRY LOT ZONED FOR 2 HOUSES Allows for Bed & Breakfast, dog kennels, country market, campgrounds. City water. $298,000

HOTELS & PUBS NORTH ISLAND HOTEL & PUB, WINE & BEER STORE 30 renovated rooms generating $8,000 monthly. Seller will finance. $1,595,000

FULL FACILITY SUPER 8 MOTEL Central/southern Vancouver Island. High profile Location. 35 rooms, + 20 suites with leased 125 seat pub and Smitty's 120 restaurant. 1.5 acre property on Trans Canada. $3,600,000

COUNTRY ESTATES DEVELOPMENT SITE 23 ACRES $459,000 50 ACRES, $995,000 43 ACRES $859,000 Adjoining properties, 1 mile from city limits, Zoned for 5 acre lots DOWNTOWN DEV. SITE includes 2 lots, 2500 sq.ft. restaurant. Leased zoned for 5 storey commercial or condos. Invest and HOLD. $780,000 FOR LEASE OVER 5,000 sq.ft. 4 bay garage or warehouse, office. Calling all automotive businesses or glass shops. Location on Hwy in town.

5 PLEX NANAIMO 5 meters, over $4,500 monthly revenue. Covered parking. Storage lockers. Separate meters. Asking $749,500 OCEANVIEW 3-PLEX South Vancouver Island. Excellent Income. 3 separate titles. $369,000 NANAIMO DUPLEX 3 bedrooms per side, 2 separate titles. Excellent income. $424,900 5 RENTAL HOMES â&#x20AC;&#x201C; All together 5 sep. adj. lots. Starting at $234,900 or all for $1,150,000. Seller will finance.

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

WATERFRONT TOWNHOME 1740 SF 3 bedrooms, roof top patio. $599,000

DUPLEX LOT $129,000 4 PLEX LOT $199,000

INCOME PRODUCING + REVENUE PROPERTIES

DEPT BAY BEACH FRONT HOME This smaller 2 bedroom home awaits your ideas. Great year round or vacation home, swimming & beach right out off your front veranda. $649,000 WATERFRONT CONDO TRADES WELCOME $425,000 With swimming pool and hot tub and boat moorage. 2 bedroom, 2 bathroom in Yellow Point. Seller will finance with low down or take trade! Owner will take a condo in Vancouver in trade. www.yellowpointmemories.com

NANAIMO Bus: (250) 758-3700 U

JUST LISTED 21 UNIT TOWNHOMES REVENUE PROPERTY ON THE GOLF COURSE. 2 & 3 bedroom units, private patios. Monthly income: over $20,000, assumable mortgage. Ideal property to hold or strata conversion. Asking $2,875,000 12 UNIT APARTMENT BLOCK. Renovated. $8,000/monthly revenue. Financing available. $1,180,000 STRIP MALL Across the road from the beach, 10,200 sq.ft. 3 commercial spaces. 4 strata condo rental units. Monthly income over $11,000 ASKING $2,250,000 RESTAURANT PUB 150 seat pub plus full facility 75 seat restaurant. Excellent lease in place. Franchised. Located in large hotel. Seller will finance. ASKING $285,000 SANDWICH BAR/ COFFEE SHOP $79,900 "The Dancing Goat". Located in mall, excellent income. Beautiful dĂŠcor. All equipment included.

REVENUE COMMERCIAL $1,395,000 THE GLOBE HOTEL Opened in 1887 â&#x20AC;&#x201C; restored 3 storey masonry building. Home to 145 seat pub restaurant. Full functioning kitchen. 8 â&#x20AC;&#x201C; 1bdrm suites. Great investment. Great return.

TOLL FREE 1-800-665-8313

Ă&#x2C6;{äĂ&#x160;/Ă&#x20AC;>Â&#x2DC;Ă&#x192;Ă&#x160; >Â&#x2DC;>`>Ă&#x160;Â&#x2C6;}Â&#x2026;Ă&#x153;>Ă&#x17E;]Ă&#x160;>`Ă&#x17E;Ă&#x192;Â&#x201C;Â&#x2C6;Ă&#x152;Â&#x2026;]Ă&#x160; ° °Ă&#x160;6Â&#x2122;Ă&#x160;ÂŁĂ&#x2021;Ă&#x160;UĂ&#x160; Â&#x201C;>Â&#x2C6;Â?\Ă&#x160;`>Â?i Ă&#x192;Â&#x2026;Â&#x153;Ă&#x20AC;Ă&#x152;Ă&#x152;JĂ&#x192;Â&#x2026;>Ă&#x153;°V>

Ocean Pointe

m[ij[hd_dl[ijeh$Yec d[mi$WhY^_l[i$h[fehji$kfZWj[i 9edjWYjki\ehceh[_d\ehcWj_ed0,&*#,,/#.+&&ehWZl[hj_i[6m[ij[hd_dl[ijeh$Yec


A23

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

From: RioCan REIT, Toronto. RioCan announces the following acquisition: Deal: RioCan has purchased Cowichan Commons, a 186,629-square-foot shopping centre in North Cowichan, B.C. The WalMart-anchored big-box centre posted a capitalization rate of 6.2 per cent. Price: $50.1 million.

From: Shindico Realty, Winnipeg. Shindico agent Sandy Shindleman reports the following: From: Frontline Real Estate Services , Deal: Lease of 30,000-square-foot office Surrey. Frontline buyer agents Jordan building, Kewatlin Street, Winnipeg, to the MacDonald and Garth White, with Re/Max Winnipeg Regional Health Authority. Commercial Advantage selling agent Ryan Price: $12.3 million. Deal: Sale of 35,000-square-foot office buildSchwartz report the following: Deal: 3,681-square-foot office strata on 152A ing, Winnipeg. Sold to an unnamed pension fund. Price: $6.9 million. Avenue, Surrey. Price: $1.2 million. Frontline agents Jordan MacDonald and Deal: Sale of 14,155-square-foot industrial property on Saulteaux Crescent, Winnipeg. Garth White report the following sale: Deal: 1.1 acres of commercial land on 65A Sold to an undisclosed buyer. Price: $1.41 million. Avenue, Surrey. Price: $1.52 million. From: CBRE National Apartment Group,

reports the following retail acquisition: Deal: 318,000-square-foot Village at Thunderbird Centre, Langley. Price: $148 million. From: Temple REIT, Winnipeg. Temple REIT announces the following acquisition: Deal: 118-room Wingate Inn, Regina. Price: $16.15 million. Recently completed a major commercial real estate deal? Send details for a free report New four-storey apartment building in here to: wieditor@biv.com. Camrose, Alberta. Sold for $8.3 million.

3,681-square-foot office strata, Surrey, From: Sunlife Financial, Toronto. Sunlife sold for $1.2 million.

Photo: CBRE National Apartment Group

%

Edmonton. CBRE senior vice-president Bradley Gingerich reports the following sales: Deal: 50-unit, four-storey rental apartment building, Edmonton. Sold for $126,000 per suite with a cap rate of 5.3 per cent. Price: $6.3 million. Deal: New four-storey rental apartment building in Camrose, Alberta. Sold for $131,746 per suite with a cap rate of 6.4 per cent. Price: $8.3 million.

Photo: CBRE National Apartment Group

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

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

Photo: Frontline Real Estate Services

%0/&%&"-4

50-unit apartment building, Edmonton, sold for $6.3 million.

7BODPVWFS*TMBOE VANCOUVER ISLAND

VANCOUVER ISLAND Comox Valley

OPPORTUNITIES

UÊ , /É" É/Ê 1-/,ÊÊ SPACES FOR LEASE fÈ°ääÊqÊ£{°ääÉõÊvÌ

LOOKING FOR A FLORIST?Choose from two, or purchase both established businesses located in different communities on Vancouver Island. Excellent opportunity for the owner/operator. COMMERCIAL WATERFRONT QUALICUM BEACH. Two Commercially Zoned Resort rental properties. Two suite with lock off $1,100,000. Three suite on two lots $1,600,000. Established resort rental income, investment or group purchase for personal use or redevelop. Beautiful walk on beach location. REVENUE RESORT COTTAGES from $261,300 Includes HST STRATEGIC REDEVELOPMENT site near downtown Qualicum Beach. 5 titles, 5 income streams, OCP for higher density $1,900,000

Contact Ian Lindsay or Frank Fairley

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

Property

VICTORIA, BC

High Profile Location Strata Office For Sale 902 Hillside Avenue (between Blanshard & Quadra) 1,100 sq. ft. with 3 large areas including a boardroom. Suitable for a variety of uses including: medical, retail or professional offices.1 Parking stall on-site. Sale Price: $149,000.00

UÊ £]ÓääÊ-+Ê/Ê£n¿Ê  ÊÊ°°°°°°° f£{™]™ää UÊ /Ê 1-/,Ê-/,/ÊÊ ³É‡£xääÊ-+Ê/ Over 20' ceilings 2 full storeys allowed. .............. fÓÇ{]™ää

Light Industrial Building For Sale 811 Princess Ave (close to Rock Bay industrial area) Property size: 6,600 sq. ft. Building size: 4,507 sq. ft. Great owner user opportunity for light industrial, high tech or call centre. New torch on roof replaced 2008. Sale Price: $1,039,000.00

UÊÊÎÎääʳÊ-+Ê/Ê Ê "1,/ 9ÊÊÊ ÊRetail/Office/Warehouse (Strata)ÊfÎÓx]äää UÊ £]{ÈäÊ-+Ê/Ê, /Ê 1  Ê On .23 ac, Cumberland ........... f{nä]äää UÊÊ+1/9Ê-/,/Ê" ÊÊ‡Ê Ó]{ääÊõÊvÌÊ .....................................................fx™™]™ää UÊ ÇÊ1 /Ê*/Ê ""8Ê Zoned for 14 Units ................... fnxä]äää UÊ°Ç£Ê Ê"7Ê,- Ê*/Ê-/ Ê°°°°°fnxä]äää UÊ Î]ÈääÊ-+Ê/Ê, /Ê 1  Ê On .28 ac, Comox ................... f™Óx]äää UÊ Î]äääÊ-+Ê/Ê, /Ê 1  Ê On ½ ac, Courtenay .......... was f™Óx]äääÊ ........................................ now fǙ™]äääÊ

Rob Samsom

AACI CCIM FRI PERSONAL REAL ESTATE CORPORATION

VANCOUVER ISLAND

1-888-829-7205

0!2+36),,%s15!,)#5-"%!#( .!.//3%s"/73%2

RE/MAX Ocean Pacific Realty

www.robsamsom.ca

Opportunites

DAVID BRUMBY www.naivictoria.ca

:

1-250-381-2265 david@naicommercial.ca

R.V. RESORT Nanaimo Area

BEAUTIFUL

UÊÎäʳÊ>VÀiÃÊ ÊÊUÊ£xÊ>VÀiÃʘˆViÞ ÊÊÊÊ`iÛiœ«i`ÊÜˆÌ…Ê ÊÊÊÊÊÊʙäÊvՏÊ…œœŽ‡Õ«Ã°Ê ÊÊÊÊÊUÊ£xʳÊ>VÀiÃÊÜˆÌ…Ê ÊÊÊÊÊÊÊÊ«œÌi˜Ìˆ>Ê̜Ê`iÛiœ«° ÊÊÊÊUÊ ÀiiŽÊÀ՘ÃÊ̅ÀœÕ}…Ê«Àœ«iÀÌÞ°Ê ÊÊÊÊÊUÊ*>ÀŽÊˆÃÊ£nÊÞi>ÀÃʜ`°ÊUÊ-iVÕÀˆÌÞÊ>ÌiÊ ÊÊÊÊÊÊÊÊUÊi>Ìi`Ê*œœÊUÊœÌÊ/ÕLÊ ÊÊÊÊÊÊÊÊÊUÊ7ˆwÊÊ̅ÀœÕ}…œÕÌÊ«>ÀŽ°Ê Priced at Appraised Value : ÊÊÊÊÊÊÊÊÊÊUÊ>՘`ÀÞÊ,œœ“ÊUʙʅœiÊ«>ÀÊÎÊ}œvÊVœÕÀÃi°Ê $2.8 million ÊÊÊÊÊÊÊÊÊÊÊUÊ>“iÃÊ,œœ“ÊUÊÓäääÊõ°ÊvÌ°Ê ÕL…œÕÃiÊ

Realtors Welcome

GARY 1-250-755-9908

16 Unit

marketing your franchise?

Victoria Classic A rare opportunity to own a well maintained, purpose-built revenue building in Victoria, BC. Superb location.

$ 3,672,000 Call Christine at the

1-800-661-6988 • (604) 608-5110 • ccampbell@biv.com

Details:

JIM RUSSELL BRANDI PLEASANTS 1 (800) 263-4753


A24

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

COMMERCIAL

RE/MAX TREELAND REALTY

RE/MAX LITTLE OAK REALTY

RE/MAX BOB PLOWRIGHT REALTY

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

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

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

THERE ARE DIFFERENT TYPES OF INVESTORS, DISCOVER THEIR INVESTMENT STRATEGIES, AND YOUR TYPE THE SPENDER, THE SAVER, THE INTELLIGENT INVESTORâ&#x20AC;Ś EMAIL ME FOR THE FULL ARTICLE AND TO DISCOVER YOUR TYPE. UĂ&#x160;Â&#x153;Ă&#x20AC;Ă&#x152;Ă&#x160;-Ă&#x152;Ă&#x160;Â&#x153;Â&#x2026;Â&#x2DC;]Ă&#x160;Â&#x2DC;Ă&#x203A;iĂ&#x192;Ă&#x152;Â&#x201C;iÂ&#x2DC;Ă&#x152;Ă&#x160;Â&#x153;ÂŤÂŤÂ&#x153;Ă&#x20AC;Ă&#x152;Ă&#x2022;Â&#x2DC;Â&#x2C6;Ă&#x152;Ă&#x17E;°Ă&#x160;7iÂ?Â?Ă&#x160; Â&#x17D;iÂŤĂ&#x152;Ă&#x160;Ă&#x2022;ÂŤĂ&#x160;Â?Â&#x2C6;}Â&#x2026;Ă&#x152;Ă&#x160;Â&#x2DC;`Ă&#x2022;Ă&#x192;Ă&#x152;Ă&#x20AC;Â&#x2C6;>Â?Ă&#x160;LĂ&#x2022;Â&#x2C6;Â?`Â&#x2C6;Â&#x2DC;}Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160;*Ă&#x20AC;Â&#x153;Ă&#x192;ÂŤiVĂ&#x152;Ă&#x160; *>Ă&#x20AC;Â&#x17D;Ă&#x160;VÂ?Â&#x153;Ă&#x192;iĂ&#x160;Ă&#x152;Â&#x153;Ă&#x160;Â&#x2C6;}Â&#x2026;Ă&#x153;>Ă&#x17E;°Ă&#x160;Ă&#x160;xĂ&#x160;L>Ă&#x17E;Ă&#x192;]Ă&#x160;Â&#x153;vvÂ&#x2C6;ViĂ&#x192;Ă&#x160;Â&#x153;Â&#x2DC;Ă&#x160; Â&#x201C;>Â&#x2C6;Â&#x2DC;Ă&#x160;>Â&#x2DC;`Ă&#x160;>LÂ&#x153;Ă&#x203A;iĂ&#x160;Ă&#x153;Â&#x2C6;Ă&#x152;Â&#x2026;Ă&#x160;Â?Ă&#x2022;Â&#x2DC;VÂ&#x2026;Ă&#x160;Ă&#x20AC;Â&#x153;Â&#x153;Â&#x201C;°Ă&#x160;iÂ&#x2DC;Vi`Ă&#x160; Ă&#x17E;>Ă&#x20AC;`Ă&#x160;Ă&#x153;Â&#x2C6;Ă&#x152;Â&#x2026;Ă&#x160;Ă&#x192;Ă&#x152;Â&#x153;Ă&#x20AC;>}iĂ&#x160;Ă&#x192;Â&#x2026;i`Ă&#x192;°Ă&#x160;$1.1 Million. UĂ&#x160;->Ă&#x17E;Ă&#x160;}Â&#x153;Â&#x153;`LĂ&#x17E;iĂ&#x160;Ă&#x152;Â&#x153;Ă&#x160;Ă&#x17E;Â&#x153;Ă&#x2022;Ă&#x20AC;Ă&#x160;LÂ&#x153;Ă&#x192;Ă&#x192;]Ă&#x160;>Â&#x2DC;`Ă&#x160;VÂ&#x153;Â&#x201C;iĂ&#x160;Â&#x153;Ă&#x153;Â&#x2DC;Ă&#x160; Ă&#x152;Â&#x2026;Â&#x2C6;Ă&#x192;Ă&#x160;Ă&#x152;Ă&#x2022;Ă&#x20AC;Â&#x2DC;Â&#x17D;iĂ&#x17E;Ă&#x160;LÂ&#x2C6;âĂ&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160;LLÂ&#x153;Ă&#x152;Ă&#x192;vÂ&#x153;Ă&#x20AC;`°Ă&#x160;Ă&#x2022;Ă&#x152;Â&#x153;Ă&#x160; Â&#x153;`Ă&#x17E;Ă&#x160; LÂ&#x2C6;âĂ&#x160;vÂ&#x153;Ă&#x20AC;Ă&#x160;Ă&#x192;>Â?i°Ă&#x160;$159,000.

COMMERCIAL BUYER/TENANT REPRESENTATION

Have you done a proper Lease vs. Buy Analysis? A CCIM provides more resources than other Realtors can! Have your Commercial Professional source your requirements: Properties, Bylaw Compliance, Investment Analysis, Negotiations. Call or email David! YOUR AGENT works for YOU!

Follow me on Twitter @rayyenkana

RE/MAX LITTLE OAK REALTY

16 SUITE MULTI FAMILY DEVELOPMENT SITE xOffered at CAP RATE of 5.69% xComprised of 2 separate titles .78 acres xFuture Development Site xIn Cityâ&#x20AC;&#x2122;s Official Community Plan 28 to 54 units per acre, 4 storey residential

INDUSTRIAL WAREHOUSES/OFFICES

COQUITLAM #100 42 Fawcett Rd.

M-1 Industrial unit 5080 sq. ft. 1580 warehouse with 2 grade doors, 3500 sq. ft. finished office/showroom $775,000 CLS#V4027558 Call or email David!

SALE $1,295,000 CHWK ACREAGE - 2 TITLES

LIVE/WORK PROPERTY

x14.35 Acres of land xIncludes 6 Bdrm Home +

x2,843 sq. ft. 4 Bdrm Home x1 Acre Industrial Property xZoned CD14 - Outside

70 x 80 Barn xAlso available w/separate

Storage

title 7.5 acre land

DAVID KEARNEYCCIM

www.davidkearney.com

SALE - FARM: $895,000 LAND: $469,000

SALE $599,900

BUSINESS FOR SALE

INVESTMENT PROPERTY

dkearney@remax.net

xSandwich Tree Franchise xEasily run by couple or

604-942-0606

xThis business makes

Toll Free:

1-888-942-0606

RE/MAX S ABRE REALTY

SPECTACULAR VIEW 36.4 ACRE PROPERTY â&#x20AC;&#x201C; ABBOTSFORD One of a kind awesome view, overlooking Fraser river & Valley farms. Ideal building site for the exclusive country estate. Fully useable farmland for berries or livestock.

First time offered at $2,188,000

SOUTH QUESNEL CATTLE RANCH 5 title 768 acre fully fenced cattle

STORAGE for 500+ ranch Vehicles at back acres pasture,

150 acres irrigated, 250 balance in late summer pasture. +/-3000 acres of attached range lease. 10 yr old ranch house, 1400 sq ft cabinet shop, 24â&#x20AC;&#x2122;x 40â&#x20AC;&#x2122; mechanics shop, bunk house, 2880 sq ft machine shed, 3 yr old 72â&#x20AC;&#x2122; x 80â&#x20AC;&#x2122; hay barn, large log hay & cattle handling barn. Premium farm equipment is also negotiable. Currently set up to raise 250 â&#x20AC;&#x201C; 300 head. Excellent value!

Asking $1,280,000 CALL ROY MUFFORD

SALE $690,000

SOLD

UĂ&#x160;Ă&#x17D;Ă&#x201C;Ă&#x160;1Â&#x2DC;Â&#x2C6;Ă&#x152;Ă&#x160;Ă&#x152;Â&#x153;Ă&#x153;Â&#x2DC;Â&#x2026;Â&#x153;Â&#x201C;iĂ&#x160;VÂ&#x153;Â&#x201C;ÂŤÂ?iĂ?Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160; >Ă&#x153;Ă&#x192;Â&#x153;Â&#x2DC;Ă&#x160;

Ă&#x20AC;iiÂ&#x17D;Ă&#x160; °Ă&#x160;­Ă&#x160;xäĂ&#x160;Â&#x17D;Â&#x201C;Ă&#x160;vĂ&#x20AC;Â&#x153;Â&#x201C;Ă&#x160;Â&#x153;Ă&#x20AC;Ă&#x152;Ă&#x160;-Ă&#x152;Ă&#x160;Â&#x153;Â&#x2026;Â&#x2DC;Ă&#x160;>Â&#x2DC;`Ă&#x160; /Ă&#x2022;Â&#x201C;LÂ?iĂ&#x20AC;Ă&#x160;Ă&#x20AC;Â&#x2C6;`}i°Ž

rayy@remax.net www.rayyenkana.com (listing details)

x23,756 sq. ft. lot located on busy fully signaled corner intersection xPartially finished 3 unit retail building with potential to build 2nd phase xDevelop, add value and realize a profit

Prime Lougheed Highway Frontage! HC zoned 20700 sq. ft. level lot with 2 rental buildings. Property offering includes automotive business $2,299,000 â&#x20AC;&#x201C; CLS# V4027170 â&#x20AC;&#x201C; Call or email David!

UĂ&#x160;{äääĂ&#x160;Ă&#x192;ÂľĂ&#x160;vĂ&#x152;Ă&#x160;Â&#x2C6;}Â&#x2026;Ă&#x152;Ă&#x160;Â&#x2DC;`Ă&#x2022;Ă&#x192;Ă&#x152;Ă&#x20AC;Â&#x2C6;>Â?Ă&#x160;Â&#x2DC;iĂ&#x153;iĂ&#x20AC;Ă&#x160;­Ă&#x160;Ă&#x201C;ääĂ&#x2021;ÂŽĂ&#x160;Ă&#x160; LĂ&#x2022;Â&#x2C6;Â?`Â&#x2C6;Â&#x2DC;}Ă&#x160;Â&#x2C6;Â&#x2DC;Ă&#x160; >Ă&#x153;Ă&#x192;Â&#x153;Â&#x2DC;Ă&#x160; Ă&#x20AC;iiÂ&#x17D;]Ă&#x160; °

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

HIGH PROFILE DEVELOPMENT OPPORTUNITY

DEVELOPMENT SITES

PORT COQUITLAM

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

FOR SALE IN CHILLIWACK

BURNABY Rare opportunity to buy, subdivide and

develop 2 downhill Cul-De-Sac residential lots in Montecito area of Burnaby! 11,000 sq. ft. lots will take 4700 sq. ft. houses. For Developer/Builder only. $650,000 CLS # V4029426 â&#x20AC;&#x201C; Call or email David

RE/MAX SABRE REALTY GROUP

604-533-3491

RE/MAX TREELAND

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

$1,600,000 KEITH SETTER

604-533-3491

x.29 Acre lot zoned CSI xCommercial on bottom floor xResidential on top floor xFully leased Âą 3,798 sq. ft.

family money

building

SALE $59,900

SALE $598,800

FORECLOSURE PROPERTY TOURIST COMMERCIAL SITE xGood street exposure xPlenty of City Parking xRenovated in 2007 x11,293 sq. ft. lot

x Foreclosure property x2.75 Acres themed park xLocated on busy road to

Harrison Hot Springs.

SALE $795,000

SALE $615,000

AIRPORT HANGAR W/OFFICE

LIVE/WORK OPPORTUNITY

x 2 kitchens, 2 washrooms,

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

2 reception areas, 15 offices, 7000 sf hangar with 2 x 2.5 ton hoists etc. Can be leased separately.

SALE $850,000 or LEASE FROM $6/s. f.

SALE $324,900

LIVE/WORK OPPORTUNITY

BUSINESS & PROPERTY xLiquor Store & Pub, on 1

xMixed use 3,250 sq. ft. x3 bdrm residential suite x4 Bays, in floor radiant

acre of land xLocated on busy road xPrice includes: business,

heat and individual meters

SALE $689,900

land, equipment and building

SALE $599,900

FOR LEASE IN CHILLIWACK Lease From $8/sq ft

Lease From $12/sq ft

Lease From $6/sq ft

xRetail 1,350 sq. ft. on 1st floor xHigh Visibility, on busy main road xRetail 2,270 sq. ft. on 1st floor xExcellent exposure on busy road x2 Office spaces upstairs xFrom 746 sq. ft. to 2,697sq. ft. xLocated in busy downtown area xPlenty of on-site parking xOn site parking

Lease from $10$12/sq ft

Lease $12-$13 sq ft

Lease $9/sq ft

xNear Courthouse/City Centre xOffice and/or retail space xSpace available 1091 to 1665 sq ft xUp to 4,450 sq. ft. Full HVAC xSecure on site parking x9 private offices, reception etc.

x Professional/Medical Building xOne block to Hospital x800 to 1,524 sq. ft.

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

OFFICE FOR SALE

Langley, BC #104-6351 197th Street. A rare opportunity to own a 1446 sq.ft. office in a Prime Langley location, the â&#x20AC;&#x2DC;Willowbrook Professional CenterĂŽ. The office has two entrances and parking at both front and rear of building. Office should lease out between $17-$20 / sq ft. Immediate Possession.

RE/MAX TREELAND


Western Investor January 2011 Section A