Page 1

CAPITALIZE

ON EXPERIENCE BARCLAY STREET REAL ESTATE INVESTMENT OPPORTUNITIES FROM

FOR SALE

BELTLINE OFFICE CONDO

VANTAGE POINTE

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

206, 1053 - 10th Street SW, Calgary

15 PAINTEARTH: RIGS AND WIND

Alberta centre rolls with wind farm, truck traffic

Fast and easy access and egress via major beltline and downtown routes. Close to LRT. Next to Calgary Co-op. Large east-facing patio. Furniture negotiable. The suite contains a combination of private offices, work stations, a boardroom, a meeting room, reception area and a kitchen area. The suite also contains in-suite washrooms and storage rooms.

Tarolyn Peach, CAO of County of Paintearth: industrial park capitalizes on “high-wide” transport

For more information or to view, please contact: pmckay@barclaystreet.com rswelin@barclaystreet.com

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

FOR SALE

COMMERCIAL/RETAIL/OFFICE BAYS

HERITAGE HILLS PLAZA 1 Horse Creek Road, Cochrane, AB

s(IGHPROFILELOCATIONJUSTOFF(IGHWAY!ON the northwest side of Cochrane

e rs Ho

k ee Cr

s!DJACENTTO#OCHRANESNEWEST LARGESTAND most desirable community by Harmony Park Developments - Heritage Hills

Rd

Heritage Hills

s6ERYCONVENIENTALLTURNSACCESSFROM(IGHWAY For more information or to view, please contact:

Highw ay 1A

JEFF ROBSON GREG RIEBEN

CALGA

RY

jrobson@barclaystreet.com grieben@barclaystreet.com

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

COMMERCIAL REAL ESTATE SOLUTIONS Office, Retail, Industrial

Land, Investment

SALES AND LEASING

SALES

Property Management

10 ALBERTA THE ONE TO WATCH

Will lead commercial real estate action into 2012 12 JUMBO’S GLACIAL PACE

.C. hoo: JuHIdy Gr

PAUL MCKAY RYAN SWELIN

Long-planned, hotly debated Kootenay ski resort praying for a ‘go’ 25 WINNIPEG BETS ON “SHED”

Shopping, housing, entertainment district takes shape downtown SPECIAL SECTION • B12

LIFESTYLE PROPERTIES

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

PUBLICATIONS MAIL AGREEMENT 40069240

WWW.BARCLAYSTREET.COM

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

$4.29 JANUARY 2012 Vol. 27/Issue 1


B2 Interior B.C./Business Opportunities PEACHLAND, B.C.

BUSINESS AND INVESTMENT OPPORTUNITIES

Waterfront location ! VERY BUSY waterfront Ladies Boutique specializing in ladies fashions, shoes and a prestigeous jewelery and hand bag line. Considered to be “THE� boutique in the Okanagan with many requests to franchise. Asking $800,000. Is supported by the Statement of Income and includes training, industry insight and more.

A great life for a semi retired couple!

E $

AL FOR S

East Kootenay, BC FAMILY RESTAURANT BUSINESS One of Southeast BC’s Most Successful Family Owned & Operated Dining In & Catering Will Sell Building as an option 6500 Sq Ft Modern Building

IN THE BEAUTIFUL BC INTERIOR

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

COMMERCIAL BUILDINGS f{xä]äää

UĂŠÂœ}>Â˜ĂŠ>ÂŽi – 3 Tenants - Well Established "7ĂŠfÓǙ]äää UĂŠ>“Â?ÂœÂœÂŤĂƒ – Future Highrise expansion

f£°{ĂŠˆÂ?Â?ˆœ˜

UÊ >V…iÊ ÀiiŽ – Hwy Frontage – Secure Yard

fĂŽĂˆÂ™]äää

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

,000 0 0 2 , 1

GOLF COURSE FOR SALE

UĂŠ ˆViÂ˜Ăƒi`ĂŠ >Ă€iĂŠ >VˆÂ?ÂˆĂŒĂžĂŠ qĂŠ >“Â?ÂœÂœÂŤĂƒĂŠ – 9 bedrooms, 7 bathrooms on spacious lot. Built in 2008. Has all amenities needed. Well-priced atĂŠfĂˆĂ‡x]äää

DWIGHT VOS

More information, reg_gb@msn.com or 778-479-2442 eves. (Peachland)

DEVELOPMENTAL LAND AND

UĂŠĂŠ>Ă€}iĂŠ>V…ˆ˜iÉ7iÂ?`ˆ˜}ĂŠ-Â…ÂœÂŤĂŠâ€“ Suitable for investor or owner/operator. Includes land & buildings. fÓ°ÓxĂŠˆÂ?Â?ˆœ˜

UĂŠ>“Â?ÂœÂœÂŤĂƒ – 2 Tenants – 8.5% Cap

JANUARY 2012WESTERN INVESTOR

SALMON ARM, B.C. Reduced to $551,000 14 apartment condominiums to be built to complete the 38-unit Valley Vista on a two-acre sloping property. Excellent view of Shuswap Lake from one side, forest on the other. Onebedroom, 600 sq. ft., two four-plexes and a six-plex. Some suites are level entry. Can be rented. Quiet pets welcome. Modulars built by SRI Homes in Kelowna. Foundations are ready and waiting for the two four-plexes. All services and driveways are in.

Dwight Vos 250.371.7992

SALLY SCALES

Tracy Mackenzie 250.318.2938

sallys1@telus.net or 250-832-4831

BEST-WEST REALTY LTD. 250.554.4511

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

TIME & PLACE 5 ACRES 5800 SQ. FT. BUILDING CURRENTLY RESTAURANT & PUB CHRISTINA LAKE $489,000

52 UNIT APARTMENT COMPLEX

DEVELOPMENT PROPERTY $669,000

28 UNITS STRATA TITLED PRICE $2,995,000

Gerry McCasky (250) 231-0900 Jack McConnachie (250) 231-5222

4000 Sq. Ft. plus 2500 Sq. Ft. building now leased. $4,000 per month triple net.

30 UNIT APARTMENT GREAT LOCATION NICE SHAPE

HOTEL, LIQUOR STORE, RESTAURANT $499,000

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

DER COURT OR

SALE

$1,650,000 Price Reduction

For more information contact:

ROSS PRIEST (Owners’ Consultant)

(250) 417-7479 priestross@shaw.ca Colliers International Centre Group Commercial Realty Kelowna, B.C. 250.763.2300

1ST TRAIL REAL ESTATE LTD.

(250) 231-5222 (CELL)

www.cbcworldwide.com www.coldwellbankertrail.com

(250) 368-5508 (FAX)

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

www.colliers.com/kelowna

TOWER RANCH GOLF RESORT MULTI FAMILY DEVELOPMENT

NAKUSP HOTSPRINGS & RV CAMPGROUND

FOR SALE

230 CARION ROAD, WINFIELD

-AGNIFICENTNATURALSITEFORAHOTEL 26 RESORTOR%CO!DVENTURE4OURISMACRES OFRAREANDUNIQUENATURALASSET

)NDOOR#AR4RUCK7ASHW# 3TORE 'AS3TATION7ITH# 3TORE

 SQFTCONCRETEBLOCK INDUSTRIAL BUILDINGONACRES   SQFT OFOFFICESPACEONFLOORS List Price: $2,690,000

MIKE GEDDES*

#OMMERCIAL#ARDLOCK

ERIC WEBER* JAYSON McCARTHY

0ROPANE#ARDLOCK

s.EWPRICEREFLECTS DOOR#$ ZONEALLOWSFORSINGLEFAMILYTOWNHOUSE ORMULTIFAMILY MAXIMUMOFHOMES Reduced from $22,500,000 to $14,500,000

264 LOUGHEED ROAD, KELOWNA sYIELDON./)OF ANNUM s3INGLETENANT NEWYEARLEASEINPLACE s SQFTMAIN SQFTMEZZ List Price: $1,080,556

CHAD BIAFORE & MARSHALL MCANERNEY* * PERSONAL REAL ESTATE CORP.

MULTI TENANT INDUSTRIAL, PENTICTON s#!02ATE sLEASEDINDUSTRIALPROPERTY s SQUAREFEETESTIMATED',! List Price: $2,900,000

JEFF HUDSON* & MARSHALL MCANERNEY* *PERSONAL REAL ESTATE CORP. www.bcip.ca

JACK SHABBITS & ERIC WEBER*

0ERSONAL2EAL%STATE#ORP

247 BRIDGE STREET, PRINCETON

WENDY DYCK

BAY CONCRETETILTUPBUILDING  SQFT ONACRESITE &OR,EASEPSF For Sale: $1,495,000

ERIC WEBER*

PANAGO PIZZA, CASTLEGAR

3151 HILL ROAD, LAKE COUNTRY ACRE REVENUEPRODUCINGPROPERTY :ONEDFORREDEVELOPMENTWITHIN,AKE #OUNTRY4OWN#ENTRE List Price: $399,900

391 TILLEY ROAD, WINFIELD

s SQFTBUILDINGFORMERGROCERY STORE ONSITEPARKINGSTALLS SITECOVERAGEONACRE List Price: $1,175,000 BOB GAULEY

%STABLISHEDANDSUCCESSFULPIZZA FRANCHISE)DEALFORAFAMILYTORUN -ODERNBUILDINGANDEQUIPMENT List Price: $290,000 (share sale) plus inventory

ERIC WEBER*


$0/5&/54+"/6"3: */5&3*03 #$ …"-#&35" … 4"4,"5$)&8"/ … ."/*50#" 4&$5*0/ On the cover County of Paintearth CAO Tarolyn Peach: new industrial park will service “high-wide� transport truck traffiic. Photo: Richard Pitman

FEATURES 15 0/5)&$07&31BJOUFBSUIHPFTHSFFO 

Wind power in play in land of oil and big rigs

10 $PNNFSDJBMSFBMFTUBUFPVUMPPL 

Alberta poised to lead Prairies into a powerful year

25 8JOOJQFHSFBMFTUBUFPOBSPMM 

A $600 million makeover for the “SHED� zone Download a PDF of all our Regional Roundups online at www.westerninvestor.com

COLUMNS 7 21 23 27

$0..&3$*"--&"4*/(

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

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

2–9 */5&3*03/035)&3/#$  3&"-&45"5&



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

10–22 "-#&35"  3&"-&45"5&  

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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

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

RARE, NEW, FEE SIMPLE MIXED USE BUILDING! Approx. 6,581 sq. ft. - 3 residential PRICE REDUCED BELOW ASSESSMENT SENIOR CARE ZONING Approximately 2.06 acres vacant land in Westbank on Elliott Road. Located in an area which is increasingly being developed into commercial properties. Currently zoned R3D - permitting congregate housing, minor home based business, major day care centre, group or accessory buildings and structures. Asking: $2,200,000 + HST MLSÂŽ

NEW TILT UP INDUSTRIAL BUILDING LEASE SPACE on McCurdy Rd, - 4 Industrial Bays available. 3 units approx. 1,569.6 sq. ft. Corner unit also available, 2,619 sq. ft. Air conditioning, gas ďŹ re, forced air - warehouse, electric, 200 amp., 3 phase power. Open parking. Asking: $12.50 psf plus CAM MLSÂŽ

suites & 4 commercial Strata units including a full height basement to utilize for storage, etc. It's a BUY! Newly constructed corner fee simple mixed use building is completed, 2nd oor 3 Residential tenanted Suites. Main oor consists of 3 commercial strata units, approximately 3,354 sq. ft. - ideal for retail, professional or commercial use. Superior construction! Commercial bays are available for viewing at any time. Asking: $2,000,000 for Building, Asking: $1,2000,000 for Main Floor Commercial Space plus HST MLSŽ

INVENTORY IS INCLUDED in the purchase price. 14+ years established and exclusive custom shoe retail opportunity available. This is not only an established business, they have the distribution rights to many mid and high end shoe lines. Some neighbours include Tim Horton's, TD Canada Trust, Wendy's and many more. Asking: $299,000 + HST MLSÂŽ

REDUCED FOR QUICK SALE! 10 minute drive from Kelowna. Gentleman's Estate. Spectacular setting, 18.59 acres. Views of Okanagan Lake and Layer Cake Mountain. Property has 10 dry camping spots. There is also a 2 bedroom plus den, 2 ½ bath residence on the property as well as a workshop and greenhouse buildings. Asking: $799,000 + HST MLSŽ

RETAILER WANTED – OFF BERNARD AVE. Retail main oor, good parking, For Lease - recently combined into approximately 1,990 sq ft of main oor OfďŹ ce or Retail Space on St Paul. Central downtown location, close to shopping restaurants and bus service. Available For Lease: $2,239 plus TNet and HST MLSÂŽ

APPROXIMATELY 115.68 ACRES – LAND ASSEMBLY IN NORTH GLENMORE UNIVERSITY DISTRICT. Minutes from

COURT D SALE ORDERE

LAKESHORE NEAR GYRO BEACH Spectacular Level Lakeshore property! Prime location. 0.4 acre offering 66 ft of waterfront. Sandy beach, licensed boat dock. 4 bdrm. 2 bath home with suite. Call Ken or Kris for Details

Kelowna's International Airport. One side abuts golf course in Quail Ridge subdivision. Property is fenced. Lot D 70.80 Acres $5,318,000 Lot 1 15.63 Acres $1,315,800 Lot 9 11.62 Acres $ 962,200 Lot 10 9.10 Acres $ 773,500 Lot 8 8.98 Acres $ 763,300 This assembly comprises 5 lots that can be purchased individually or as a complete package. Call Ken or Kris for details. Asking: $9,132,800.00 MLSÂŽ

LOWER MISSION EXCLUSIVE OFFERING – INVESTMENT PROPERTY on Lakeshore Road. +/- 4500 sq. ft. building with 10 bedrooms, 4 ½ baths. 1.13 acres on at site located at the corner of McClure and Lakeshore Road. Endless possibilities. Asking: $1,600,000.00 MLSŽ

WEST KELOWNA IS KRAFT HOCKEYVILLE!


B4 Interior British Columbia

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

INDUSTRIAL PROPERTY C o l d s t ream / Ver non UÊ ÓxÊVÀiÃʜvʏiÛiÊ˜`ÕÃÌÀˆ>Ê>˜`Ê­<œ˜i`ʇӮ UÊ ««ÀœÝ°ÊxääʓÊ,>ˆÜ>ÞÊ-ˆ`ˆ˜} UÊ iÜÊÜÞÊÈÊÀi>ˆ}˜“i˜ÌÊ>˜`ʈ˜ÌiÀÃiV̈œ˜Ã ÃV…i`Տi`ÊvœÀÊ-«Àˆ˜}ÊÓä£Ó UÊ *Àiˆ“°Ê ˜}ˆ˜iiÀˆ˜}Ê*Ž}°ÊvœÀÊ«ÀiۈœÕÏÞÊ >««ÀœÛi`ÊÇÊœÌÊ ÕȘiÃÃÊ*>ÀŽ UÊ œV>ÊŜÀÌ>}iʜvʘ`ÕÃÌÀˆ>Ê>˜`Ê«ÀœÛˆ`iÃÊ ˆ˜VÀi>Ãi`Ê >«Ê,>ÌiÊ«œÌi˜Ìˆ> "vviÀi`Ê>ÌÊ$2,400,000

250.801.8380 / Doug.Roberts@Telus.net

O K A N AGA N – B .C . I N T E R I O R I N V E S T M E N T

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

CHRISTINA LAKE CAMPGROUND

FIRST TIME ON THE MARKET IN OVER 20 YEARS!

UÊÇxÊ-ˆÌiÃÊ܈̅ÊՏÊEÊ*>À̈>Ê-iÀۈVià UÊ >ÃÞÊ>VViÃÃʜvvʈ}…Ü>ÞÊÎ UÊՏÊv>VˆˆÌˆiÃʈ˜VÕ`ˆ˜}Ê«œœ UÊ"«iÀ>ÌiÃÊ>ÞÊ£Ê̜Ê-i«Ìi“LiÀÊ£xÊ

UÊ{°™£ÊVÀiÊ ˆViÞÊ/Àii`Ê*Àœ«iÀÌÞ UÊ œÃiÊ̜ʏ>À}iÊ«ÕLˆVÊLi>V… UÊ ÝVi«Ìˆœ˜>ÞÊÜiÊ“>ˆ˜Ì>ˆ˜i` UÊ*iÀviVÌÊvœÀÊÃi“ˆÊÀïÀi`ÊVœÕ«i

Asking Price $699,000

FORECLOSURE SALE - FORMER GOLF COURSE

VERNON & AREA

UÊÊ, Ê",-]Ê Ê UÊÊΣxÊVÀiÊ-ˆÌi UÊÊ««ÀœÝˆ“>ÌiÞÊÓʎ“ÊÀˆÛiÀÊvÀœ˜Ì>}i UÊÊÎ]™™äÊ-µ°ÊÌ°]ÊxÊLi`Àœœ“Êœ}Êœ“i UÊÊœvÊVœÕÀÃiʏ>ÃÌʜ«iÀ>Ìi`ʈ˜ÊÓää™ÊÃi>Ü˜Ê UÊÊ£nʅœi]Ê«>ÀÊÇÓÊVœÕÀÃi UÊÊ ÝVii˜ÌÊv>À“ʏ>˜`ʜÀÊÀi‡œ«i˜Ê}œvÊVœÕÀÃi UÊÊ-iiÀʓ>ÞÊ>ÃÈÃÌÊ܈̅Êwʘ>˜Vˆ˜}

T R A D E S C O N S I D E R E D O N S E LE C T P R O P E R TI E S PREMIUM STORAGE YOU OWN! GARAGETOWN - VERNON Premium Storage with a difference- YOU OWN IT! - 47 fully customizable units. 20x48, 24x48 and larger w/14’ overhead doors plus a drive-through model. Ideal for RVS, boats, collectors, retail and business overflow. Level 3 acre site w/ quick access to all major routes. Fully furnished Owners Lounge! Offering preconstruction incentives from $125,900 MLS®

Asking Price $1,200,000

CARWASH – WILLIAMS LAKE Profitable and well maintained! Great Family operation or for absentee owner. ½ acre lot, 3 high pressure truck and 3 medium pressure car bays, new detailing business. $949,000 MLS®

NORTH OKANAGAN SELF STORAGE

TOURIST COMMERCIAL ON OKANAGAN LAKE .23 level acre across from public beach! Older home with long term tenant. $650,000 MLS® RETAIL/WAREHOUSE WITH SUITE 10,800 sq.ft - flexible use. High visibility on main commercial road across from Mall. Tenant would like to stay. Great holding property. $995,000 MLS® RV SALES AND SERVICE BUSINESS. High profile location in SALMON ARM . Well established, thriving & profitable. New and used sales, servicing, rentals, counter sales. Lease available. $499,000 MLS® SERVICE COMMERCIAL BUILDINGS 50x158 yard w/lane access. Updated Building with 5 offices, workspace and storage $270,000 MLS® Level paved .95 acre w/fenced compound. Across from major mall, few blocks from downtown core. 10,900 sq.ft. building $1,395,000 MLS® COMMERCIAL STRATIFIED OFFICE 2000sq.ft 3-4 offices, workspace, kitchen, baths, onsite parking.

UÊÊÓ°Ç£ÊVÀiÃÊUÊ,œœ“ÊvœÀÊ Ý«>˜Ãˆœ˜Ê UÊÓxnÊ1˜ˆÌÃÊÊ UÊ œ˜VÀiÌiÊLœVŽÊVœ˜ÃÌÀÕV̈œ˜ÊÊ UÊ ° °Ê/œ«Ê£äÊ1‡>ՏʏœV>̈œ˜ÊÊ UÊÀœÃÃÊf{nä]äää³É‡ÊÊ

$479,500 MLS®

SERVICE COMMERCIAL DEVELOPMENT SITE Ideal for end user or subdivision. Fully serviced area w/access from 2 or 3 roads. Zoning allows for 10,800 sq.ft +. Multiple uses including residential above main floor. $5,750,000 MLS® TOURIST COMMERCIAL .45 acre w/ highway visibility and easy frontage road access. Neighbourhood of car/boat dealerships and bulk service stations. Concrete 2 storey bldg w/two storefront units, mega storage/office space and residential suite.. $599,000 MLS® INDUSTRIAL SITE! Nearly 3 level acres on frontage road with high exposure to highway. Ten minutes to city centre. Ideal for manufacturing business. Plans for building available. $888,000 MLS®

Asking Price $4,695,000

$300,000 PRICE REDUCTION ! PRIME FARM-HOLDING LAND - OSOYOOS UÊ œÀ˜iÀÊ-ˆÌiʈ˜Ê…ˆ}…ÊÌÀ>vwÊV]ʅˆ}…ÊiÝ«œÃÕÀiʏœV>̈œ˜Ê܈̅ £äää³Êv̰ʈ}…Ü>ÞÊÎÊvÀœ˜Ì>}iÊ UÊ/œÜ˜ÊÃiÜiÀÊEÊÜ>ÌiÀÊ>ÌʏœÌʏˆ˜iÊ UÊ6iÀÞÊVœÃiÊ̜ʏ>ŽiÊUʘVÕ`iÃʅœÕÃiÊEʜ«iÀ>̈˜}ʜÀV…>À`Ê UÊÊÀi>ÌʏœV>̈œ˜ÊvœÀÊv>À“Ê}>ÌiÊ܈˜iÀÞʜÀÊ>}ÀˆÌœÕÀˆÃ“ÊLÕȘiÃÃÊ New Asking Price $1,695,000

IDEAL FOR WATER BASED BUSINESS .51 level acre zoned I1 Light Industrial. 18’ x 30’ shop and 3 bdrm house. Located between downtown and yacht club/boat launch. Next to airport. Rare Find! $399,000 MLS® KALAMALKA LAKESHORE RETREAT 2.54 acres in two legal title with approx 250ft.of level, private beach. No thru road. . Gorgeous grounds Amazing home with 7 bedrooms with baths, spacious living areas and a stratified two bedroom suite . 10 mins from City and 30 mins from Kelowna international airport. One of a kind! Exceptional value! $3,900,000 MLS®

UÊʈ}…Ê Ý«œÃÕÀiÊœV>̈œ˜ UÊÊ*ÕÃÊnäÊ"ÕÌ`œœÀÊ-̜À>}iÊ-«>Vià UÊÊ>˜>}iÀ½ÃÊ,iÈ`i˜Vi UÊÊ-iiÀʓ>ÞÊV>ÀÀÞʓœÀÌ}>}i UÊÊÇ°ä¯Ê >«Ê,>Ìi

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TOWN HOMES WITH STORAGE ... FOR ALL YOUR TOYS ! ONLY 7 HOMES LEFT

UÊ9œÕÀʜܘÊi˜VœÃi`]ʅˆÊViˆˆ˜}ÊÃ̜À>}iÊL>ÞÊ >À}iÊi˜œÕ}…ÊvœÀÊ>Ê{xÊv̰ʜ̜À…œ“i UÊÕÝÕÀˆœÕÏÞÊ>««œˆ˜Ìi`Ê£ÊLi`Àœœ“Ê̜ܘ…œ“iÊUÊ““i`ˆ>ÌiʜVVÕ«>˜VÞ UÊ6ˆÃˆÌÊwww.cactusflats.caÊvœÀʓœÀiʈ˜vœÀ“>̈œ˜ Offered at $299,000. Call about winter pricing incentives.

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

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

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

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

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


Interior British Columbia B5

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

FOR SALE 8-1103 12th Street KAMLOOPS,BC

KAMLOOPS, BC & AREA sFuture Mobile Home Park Clearwater, BCn15 acres plus 2.7 acres, highway commercial.

FOR SALE

$279,000

sKamloops Warehouse â&#x20AC;&#x201C; 4478 sq ft with

PENTICTON

loading dock, ofďŹ ce and washroom. Close to city centre $7.00/sq ft plus triple net.

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

sMain Street Lease Space â&#x20AC;&#x201C; 946 sq.ft

$1,999,000

retail

available

for

lease

Jan

1/2012

$1202.00 plus portion of taxes

PENTICTON

sMiniMall Barriere, BC â&#x20AC;&#x201C; 5 units plus vacant lot,

LAKEFRONT PENTHOUSE WITH MOUNTAIN VIEWS AVAILABLE IMMEDIATELY

hwy frontage. Good investment.

1 BDRM + DEN NEW PRICE $479,000

sCommercial Building, 4 Bedroom Suite â&#x20AC;&#x201C; Clearwater BCBuilding just under 4000 sq ft. Âź acre lot. Current use is restaurant.

PENTICTON

INVESTMENT OPPORTUNITY

LAKEFRONT PENTHOUSE AMAZING VIEWS OF OKANAGAN LAKE & AVAILABLE IMMEDIATELY

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

$399,900

s)NVESTMENTn"USINESS0OTENTIALn#HASE"# Large building has pub, liquor store & restaurant plus 2nd ďŹ&#x201A;oor for future development. Price

UĂ&#x160; Â&#x2021;{Ă&#x160;<Â&#x153;Â&#x2DC;Â&#x2C6;Â&#x2DC;}Ă&#x160;-Ă&#x152;Ă&#x20AC;>Ă&#x152;>Ă&#x160;/Â&#x2C6;Ă&#x152;Â?i`Ă&#x160; Â&#x153;Â&#x201C;Â&#x201C;iĂ&#x20AC;VÂ&#x2C6;>Â?Ă&#x160;Â&#x153;Ă&#x152;Ă&#x160;

includes land, building, pub license, liquor store

UĂ&#x160;ÂŁ]Ă&#x2021;ääĂ&#x160;Ă&#x192;¾°vĂ&#x152;Ă&#x160;*Â?Ă&#x2022;Ă&#x192;Ă&#x160;iââ>Â&#x2DC;Â&#x2C6;Â&#x2DC;iĂ&#x160;"vwViĂ&#x160;

OSOYOOS

license and equipment. Selling below assessment.

UĂ&#x160;6iĂ&#x20AC;Ă&#x17E;Ă&#x160;7iÂ?Â?Ă&#x160;>Â&#x2C6;Â&#x2DC;Ă&#x152;>Â&#x2C6;Â&#x2DC;i`Ă&#x160; Â&#x153;Â&#x201C;ÂŤÂ?iĂ?Ă&#x160;

10 INCOME PRODUCING LAKEFRONT RV LOTS

$1,250,000 + HST

$465,000

s Telecommunications Business â&#x20AC;&#x201C; Kamloops BC

UĂ&#x160;Â&#x201C;ÂŤÂ?iĂ&#x160;*>Ă&#x20AC;Â&#x17D;Â&#x2C6;Â&#x2DC;}Ă&#x160;UĂ&#x160;6>V>Â&#x2DC;Ă&#x152;Ă&#x160; Â&#x153;Ă&#x153;

Owner retiring. Business sells, installs, & repairs

Ă&#x192;Â&#x17D;Â&#x2C6;Â&#x2DC;}Ă&#x160;fĂ&#x201C;Ă&#x17D;x]äää

telephone & voice mail systems, data wiring, ďŹ ber

Please visit our website or call for more details.

monarkinvestments.ca

optic cable installations.

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

604-592-7250

$274,900

Call MARVIN MATT

1-250-319-8784

250-372-2277 mona@mcmrealestate.ca +!-,//032%!,49,4$

www.mcmrealestate.ca

Financing Available. Potential Trades.

$175,000

mmatt@shaw.ca

www.realestatekamloops.ca

Each office is independently owned and operated.

Attention Agents:

REACH QUALIFIED BUYERS FOR YOUR LISTINGS call Gary

Takahashi

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

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

Industrial Investment Property in the Okanagan 2 large Industrial properties, 40.06 Acres $3,900,000 & 44.35 Acres $ 4,400,000 Buy one, both, or bring us your ideas with how many acres you require. Subdivision development possible, seller motivated and willing to work with you. Buildings on the property include: 2780 sq. ft. ofďŹ ce, 33,600 sq. ft. production building, 16,000 sq. ft. production building, 6,000 sq. ft. shop with 5 tonn overhead crane, a weigh scale & scale building, 2 dry kilns and machine utility building plus various other buildings. See proposed subdivision plan and pick your spot. If you have a need for Industrial land with or without buildings, we can help.

RE/MAX Lumby

DARLINE SCOTT 1-888-547-9266

4 2 3 1

5

DarlineS@telus.net www.remaxlumby.com

1 2 3 4 5

Approx Approx Approx Approx Approx

6.9 AC 12.5 AC 23 AC 16 AC 39 AC

OKANAGAN OPPORTUNITIES Acreages

Court Ordered Sales

Investment Properties

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Tim Down AACI, P. App, CAE, RI(BC) "Professionalism You Can Trust"

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Cell: 250-864-9140 Toll: 1-800-367-3339 tim@timdown.ca www.timdown.ca RE/MAX Kelowna Westside

Each office is independently owned and operated.


B6 Northern British Columbia

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â&#x20AC;&#x201D; Your PRINCE GEORGE Commercial Professionals â&#x20AC;&#x201D; 4350 Handlen Rd â&#x20AC;&#x201C; â&#x20AC;&#x2DC;Court Ordered Saleâ&#x20AC;&#x2122;

2977 Ferry Ave. FOR SALE â&#x20AC;&#x201C; 0.8 Acres on corner of Ferry Ave. & Ospika Blvd. C-6 zoning.

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

1440 â&#x20AC;&#x201C; 2nd Ave.

9080 Penn Rd.

Extremely well maintained quality 5,386 sq ft OFFICE building. Vacant possession June 2012.

FOR LEASE â&#x20AC;&#x201C; 25,660 sq ft quality warehouse located in the Danson Industrial Park.

5083 & 5075 Domano Blvd.

1108 Boundary Rd.

FOR LEASE â&#x20AC;&#x201C; Prime College Heights RETAIL/OFFICE space. Visually desirable location. Net Lease.

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

9368 Milwaukee Way

760 Kinsmen Pl.

New ďŹ rst-class building in prime location. Ready for occupancy September 2012. Main ďŹ&#x201A;oor 4,300 sq ft available and daylight basement 2,000 sq ft. Zoned C-4.

FOR SALE - 31,640 sq ft major fabricating/ manufacturing facility (28â&#x20AC;&#x2122; ceilings). Located on 3.74 Acres, fenced yard, cranes, quality ofďŹ ces.

9543 & 9565 Anzac Cres. FOR SALE - 1.88 Acres. Zoned M-2. Industrial lots, cleared, level & serviced.

1437 North Fraser Dr. â&#x20AC;&#x201C; Quesnel FOR SALE â&#x20AC;&#x201C; Court Ordered Sale 38.5 Acre property. 604 sq ft stand alone ofďŹ ce. Main 3,498 sq ft concrete block 4 bay truck shop, with 1,628 sq ft addition attached. A 2,160 sq ft storage building with a 648 sq ft wood frame storage shelter. A sand/gravel business historically operated from this site, however no licensing permits have been conďŹ rmed.

1550 â&#x20AC;&#x201C; 1st Ave.

1921 Upland St.

ONE OF A KIND OPPORTUNITY. 3 concrete block warehouse on 3 Acres. 44,080 sq ft total space. Well maintained with 11 loading doors, 13 O/H doors, 3 phase power & highway access.

FOR SALE â&#x20AC;&#x201C; Exceptional 12 unit apartment building. Good location, well maintained property. 8% Cap Rate.

2222 Balsam Ave. â&#x20AC;&#x201C; Quesnel,B.C.

508 George St.

8,200 sq ft fully equipped 250 seat restaurant. Previously â&#x20AC;&#x2DC;Tony Romaâ&#x20AC;&#x2122;s â&#x20AC;&#x2DC; franchise. Completely renovated & equipped.

Highly visible first class 12,177 sq ft main building. Also has warehouse, two ministorage warehouses & caretakers mobile home.. Highway access o

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

GEORGE Weinand

250-960-9556

KEN Goss

250-565-7653

THINK REAL ESTATE...The Best Investment on Earth


B7

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

Some will be hard to ask but they are all important when deciding to sign up for a commercial lease

RVFTUJPOTUP BTLMBOEMPSET s a western Canadian entrepreneur or franchise tenant, you will want to prepare yourself for lease negotiations with a commercial landlord. Educated entrepreneurs must ask plenty of questions in regards to leasing a preferred location â&#x20AC;Ś doing so better assures that these business owners will achieve their maximum potential and will not be taken advantage of. When viewing possible commercial sites for lease, one should exercise caution for maximum dividends.

"

As The Lease Coach, I have been consulting with commercial, franchise and retail tenants since 1993 and have put together the following â&#x20AC;&#x153;10 Questionsâ&#x20AC;? that all tenants should ask during the lease-negotiating process for either a new location or a lease renewal. In doing so, you will better protect yourself, your interests and your investment. 8IPJTUIFMBOEMPSE  Will you be dealing with a large institution, a bank or a small, independent, â&#x20AC;&#x153;mom and popâ&#x20AC;? landlord? Depending on your opposition, you will be using a different negotiating approach. You wouldnâ&#x20AC;&#x2122;t use the same golf club for every shot so selecting the property negotiating strategy for that particular landlord is just as important. )PXMPOHIBTUIFMBOEMPSE PXOFEUIFQSPQFSUZ  New landlords often have unrealistic and high rental expectations. A landlord who has owned the building for a longer time or who has built the property, however, may have a smaller mortgage and will require a less aggressive return or rental rate.

flag for you. Also, has a similar-use tenant previously leased space within the property and either closed the business or moved elsewhere within the past 10 to 20 years? A strip plaza near my home is about 18 years old and some of the units have had as many as four different tenants come and go over that time â&#x20AC;&#x201C; this fact tells its own story.

8IPJTEPJOHUIFMFBTJOH GPSUIFQSPQFSUZ  Knowing who you are dealing with will help 8IFSFJTUIF you better prepare for negotiaMBOEMPSEQIZTJDBMMZ tions. Is this a big leasing broMPDBUFE  kerage, a real estate agent or the A local landlord is often landlordâ&#x20AC;&#x2122;s son? more accessible, thus making Real estate agents must folany offer to lease and formal low a code of conduct; howlease dealings easier. One of ever, they can only share what my tenant clients was trying information the landlord has to personally meet with his told them. A less than reputable small-time landlord who was landlord doing his own leasing going into retirement and often may tell you anything to get not around; in fact, this landyou to sign on the dotted line. DALE WILLERTON lord was frequently on a golf If itâ&#x20AC;&#x2122;s not in the lease â&#x20AC;&#x201C; or not course a thousand miles away. in writing â&#x20AC;&#x201C; you may not have Obviously, this created difficulty with sched- a legal leg to stand on if the situation changes uling a personal meeting. The deal never did or the landlord sells the building. come to fruition because too many uncertainties arose from asking these very questions. 8IPXFSFUIFUXPNPTU SFDFOUUFOBOUTUPNPWFJO *TUIFQFSTPOJODIBSHFPG BOEXIFO  QSPQFSUZNBOBHFNFOUPO You will want to approach these tenants and ask TJUF  them how their lease negotiations went. If the Similar to the preceding point regarding absen- leasing agent claims he/she has only recently tee landlords, ensure that your property manag- acquired the listing and does not know, push er is readily available to deal with any concerns for the details. The agent should be able to go you may have. Property managers may look back to his/her boss (the landlord) and get you after multiple sites (not always in the same city whatever answers you require. or town) and cannot remain at one location on a full-time basis. For many properties there will 8IPXFSFUIFMBTUUXP be a professional management team, including UFOBOUTUPNPWFPVU  skilled caretakers â&#x20AC;&#x201C; so donâ&#x20AC;&#x2122;t hesitate to probe. When and why did they move out? Did they move across the street or did they close? This 8IBUJTUIFCVJMEJOH¤TIJT point is truly relevant as an insight to the UPSZ  strength and desirability of the property. As An older building may require further upkeep before, you will want to speak to these former and maintenance, which tenants pay for in tenants and ask for more details about their reacommon area maintenance (CAM) charges. soning for leaving as well as their opinions of If there has been a high turnover of tenants in the landlord, property manager and the propthe past, for any reason, this should raise a red erty itself.

-&"4*/(

8IPJTUIFQSPQFSUZ¤TCJH HFTUUFOBOU BODIPSUFOBOU  How secure is this anchorâ&#x20AC;&#x2122;s tenancy? The anchor tenant(s) typically attract the mos t traffic to a property so you will want to confirm they will be staying. Another neighbourhood strip mall once housed a Safeway as an anchor tenant. This Safeway, however, moved out and many of the other tenants were caught unaware. Despite having a long-term lease, these anchors can often close or relocate their store to a new plaza but continue to pay the rent, thus disallowing any competitor to move in â&#x20AC;&#x201C; the result is a big vacancy and less traffic flow to the plaza.

*TUIFCVJMEJOHGPSTBMF  Building owners looking to sell their building will have different investment strategies and motivations. Also, consider that you may like the current landlord but dislike the new landlord. When a building sells, the new landlord is much more likely to try to raise the rents â&#x20AC;&#x201C; often justified by a minor renovation to the property. You may feel uncomfortable asking these questions; however, as a tenant, you have every right to know the entire picture. I strongly recommend that you type out these questions as a worksheet and refer to them before and during lease negotiations. Two caveats to asking these questions: you may not get the same answer from the landlord, the property manager or the landlordâ&#x20AC;&#x2122;s real estate agent. Consider the authority from whom you are receiving your answers and information. Finally, the more important the question/ answer the more vital it becomes to have a written statement to that effect.â&#x2014;&#x2020;

Edmonton-based Dale Willerton is The Lease Coach â&#x20AC;&#x201C; a lease consultant who works exclusively for commercial tenants. Willerton, a noted business author, can be contacted by phone at 1-800-738-9202. For a free copy of the CD â&#x20AC;&#x153;Leasing Doâ&#x20AC;&#x2122;s & Donâ&#x20AC;&#x2122;ts for Commercial, Retail & Office Tenants,â&#x20AC;? email dalewillerton@theleasecoach.com, or visit his website at www.helpulease.com.

/PSUIFSO#SJUJTI$PMVNCJB

6>G8G6;I=6C<6G;68>A>IN EG>C8:<:DG<:!78

FORT. ST. JOHN A RARE FIND

LOCATION, LOCATION

2 vacant lots totaling 2.11 acres to be sold as package. Zoned C-3 in a great location by Mathews Park this property has a lot of potential for savvy investors.

A great ofďŹ ce space on 100th Street, thereâ&#x20AC;&#x2122;s 2 offices, an open area that includes a small coffee area and wash-room. Great space for a smaller company looking for a downtown location.

$709,900 MLS# N4505175

$14.00/sq. ft. + NNN - MLS# N4505098

;DGH6A:DGA:6H: 8312/8412 - 86 Street

10407 Beaver Rd.

s.EWLYCONSTRUCTEDATTHE0RINCE'EORGE)NTERNATIONAL!IRPORT s,OCATEDADJACENTTOTHEMAINTERMINAL s!VAILABLEFOROCCUPANCY*ANUARY s3UITSBOTHAVIATIONANDCOMMERCIALOFlCEAPPLICATIONS s SQFTOFlCEMAINTENANCESPACEONTWOmOORS s(ANDICAPPEDACCESSIBLECOMPLETEWITHELEVATOR s SQFTHANGARSPACE s(ANGARDOORSAREWIDEBYINHEIGHT s(ANGARISEQUIPPEDWITHAFOAMlRESUPPRESSIONSYSTEM s)N SLABmOORHEATINGTHROUGHOUTTHEHANGARSPACE s2EMOVABLEPARTITIONWALLCREATESTWOSEPARATEHANGARBAYS s!MPLEPAVEDPARKINGWITHADJACENTGRAVELLEDPARKINGAREA For sales or leasing inquiries please contact:

<:DG<:B6GI>C Tel: '*%".+%"'''* Fax: '*%".+%"''*&

10011 - 100th St.

OPPORTUNITY KNOCKING!

(10404/10408 Cree Rd.)

Features 1-10â&#x20AC;&#x2122; x 14â&#x20AC;&#x2122; and 1-16â&#x20AC;&#x2122; x 14â&#x20AC;&#x2122; overSHOP/OFFICE head door. Over 700 SPACE FOR LEASE sq. ft. of ofďŹ ce space on main ďŹ&#x201A; oor, 900+ ofďŹ ce/storage space on mezzanine. Fenced yard available, to be negotiated. Located a block from the Alaska Highway

9705 - 103 Ave Well maintained 6-plex, this building offers 2-3 bedroom units; 2-1 bedroom units & 2 bachelor units. 100% consistent occupancy makes this a great long term holding property.

$15.00/sq. ft. + NNN - MLS# N4505179

$575,000 - MLS# N4505145

LARGE MODERN LEASE SPACE

PROSPECT PARK LOCATION

11203 Tahlton Rd. This modern steel span building features over 11,750 square feet of combined shop/ofďŹ ce space, and 11,250 square feet of cold storage. Located in newer area of Prospect Park on a paved street, with access to the Alaska Hwy.

$13.75/ sq. ft. + NNN- MLS# N4505157

10711 - 91ST Ave Updated ofďŹ ce space, new windows, doors and updated forced air furnace. 1100 sq. ft. of ofďŹ ce space attached to 3250 sq. ft. of shop. + 6500 sq. ft. of additional shop space available.

$15.00/sq ft + NNN - MLS# N4505100

KATHY MILLERCURTIS ROBINSON PERSONAL REAL ESTATE CORPORATION

Remax Action Realty 1991 Inc.

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

The Power Of Partnership!


B8 Northern British Columbia

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

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Northern British Columbia/Alberta B9

NORTHEAST BC REALTY Ltd.

PRINCE GEORGE

â&#x20AC;&#x153;InvestingOurEnergyInTheNorthâ&#x20AC;?

Opportunities

Phone 250 785 4115

Located at 10220 101 Avenue Fort St John BC V1J 2B5 www.NEBCRealty.com

F: 250 785 4120

RON RODGERS - OWNER / MANAGING BROKER Email: ron@northeastbc.com

â&#x20AC;&#x201D;â&#x20AC;&#x201D; FOR SALE â&#x20AC;&#x201D;â&#x20AC;&#x201D;â&#x20AC;&#x201D;â&#x20AC;&#x201D; DEVELOPMENT PROPERTY â&#x20AC;&#x201D;â&#x20AC;&#x201D;â&#x20AC;&#x201D;â&#x20AC;&#x201D; FORT NELSON BC â&#x20AC;&#x201D;â&#x20AC;&#x201D; 

Over 20,000sf building on 14+ acres building is approximately 15 years old...steel frame, metal cladâ&#x20AC;Ścurrently used for mix commercial (restaurant/banquetfacility,bowlinglanes,racquetballcourt,cabaret,liquorstore,managerâ&#x20AC;&#x2122;ssuite,office)

Property is located to the west of Fort Nelsonâ&#x20AC;&#x2122;s downtown core. To the south is Light Industrial use with companies such as UFA, CAT Rental...and more! With over 14 acres to expand on, this site would be ideal for future commercial expansion.

TheMunicipalityofFortNelsonisintheprocessofupdatingthe OfficialCommunityPlan(OCP). CurrentlythispropertyisdraftedwithintheDraftOCP forLIGHTSERVICEINDUSTRIALUse. MLSÂŽ N4504678

1-800-667-7330

CREEK

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

RE/MAX DAWSON CREEK REALTY 1-888-214-5871 DAWSON CREEK COMMERCIAL EXPERTS #132673 - In the centre of the City close to the traffic circle on Alaska Highway...1.55 acres of flat land with all new services to the property and bordered by 8th street and the paved roadway to the new apartment building. Excellent location, commercially zoned, will builld to suit. $290,000 #129953 - RETAIL BUILDING Great location on 10th St over 3,000 sq ft on main and additional 3,000 sq ft on second floor, located next to Scotia Bank. Ground floor now leased out to only video rental company in Dawson Creek. Asking price of $375,000

FOR LEASE 3200 SQ FT SHOP with an additional 1680 sq ft of office are on upper floor. 2 doors 12x14 into 40x40 shop. Zoned M2 (light industrial) on .23 of an acre. Asking $16.00/sq ft.

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

#129952 - FOR SALE OR LEASE Multi purpose building with 2 units now leased leaving 11,000 sq ft. available. Upgrades include updated roof and furnaces Asking price is just $397,000

HIGHWAY

#130029 RETAIL STOREFRONT on 102nd Ave. for sale, 3500 sq. ft on a corner location, paved parking, good visibility can be used for ofďŹ ce, retail, or your own small business. Owner will consider leasing as well. Reduced to $119,000 as is

COMMERCIAL/INDUSTRIAL LAND Situated across from the EnCana event centre, Chances casino and new Holiday Inn this is a very desirable location. Total of three lots each approx 4.5 acres each, excellent visibility and access. Priced at $450,000 - $500,000 each

#130010 - WELDING / MACHINE SHOP for sale Includes 12â&#x20AC;&#x2122; door, 13â&#x20AC;&#x2122; ceilings, 3 phase power, 23o Volt/400 amp service. Gravel yard, 100 sq. ft. ofďŹ ce with shower & bathroom. Fire hydrant, 2 overhead cranes. $220,000

#131876,

130050,

131875

-

FOR SALE OR LEASE 5040 sq ft building on busy Alaska Ave. Many uses, drive thru availability, lots of parking, next to government liquor store. Owner will consider dividing building into two rental units. Priced at $795,000 or $16.00 per sq ft to lease.

#129593: COMMERCIAL BUILDING WITH BEER AND WINE STORE for sale (gross sales of $2,000,000). Great location in Dawson Creek, also 40 apartments, bar/restaurant area and commercial space. Asking $3,500,000. Call for more info.

#129257: THE SOUTH PEACE UNITED CHURCH IS FOR SALE. OVER 11,000 SQ. FT. - Sanctuary, hall, kitchen, ofďŹ ces, and support services. Excellent corner location, zoned commercial, very good condition, ready for an ofďŹ ce or residential conversion. $495,000 #133401 - BUSINESS OPPORTUNITY located on the east side of Dawson Creek. Belsum Auto Recyclers Ltd has a proven track record and shows a good return. Includes 6.5 acres of prime industrial land on Hwy #49, a heated main shop with 3200 sq.ft. and an adjoining 2400 sq. ft. building used for stripping vehicles. Lots of inventory, and equipment includes 3 forklifts and a skid steer. Asking $1,200,000 for the land, buildings, and turnkey business with inventory. #133128: NEW STRIP MALL has 4 available spaces left for lease, 1,750 sq ft each. Great location on 8th street between Tim Hortonâ&#x20AC;&#x2122;s & The Brick. Lease rates start as low as $16/sq. ft. Start your business here. Strip mall is 10,000 sq. ft. Also for sale at $1,800,000

L A N D #129635: RESIDENTIAL DEVELOPMENT LANDS, one parcel of 25 acres on the north west edge of Dawson Creek for sale, superb location for residential homes, the timing is right as we need more residential lots for our busy market place. Asking $625,000 #129877: ONE ACRE OF MULTIPLE RESIDENTIAL LAND suitable for 37 unit apartment or condo complex. Across from the hospital in a prime residential area of Dawson Creek. $179,000 #127836: SUBDIVISION FOR MOBILE HOMES! Total of 39 mobile lots are possible on this 4.6 acres, zoning in place, some services are already in, 3 lots have been subdivided. Call for more info. Asking $300,000

Large waterfront - rare zoned for recreational / residential development Not in the ALR - Highway access 26 acres, approx 1450â&#x20AC;&#x2122; of lakefront $295,000 55 acres, approx 1650â&#x20AC;&#x2122; of lakefront $495,000

Each ofďŹ ce is independently owned and operated

www.dawsoncreekrealestate.ca

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

Rob Engen 250-552-4121 Elisha Flynn 250-981-9898 engen-rob@hotmail.com elishaďŹ&#x201A;ynn@gmail.com RE/MAX Centre City

NO DROP INS - Please call for more info or to arrange viewing (Businesses are not included in asking price...call Ron for more details)

DAWSON

This beautiful 388acre parcel of land is located in an Executive Country Neighbourhood only 10 mins from Prince George City Centre. Possibility of subdivision. Reduced from $1,100,000 to $999,900 MLSÂŽ N213581

WILL BUILD TO SUIT - AIRPORT ONE ACRE LOTS Developer has 3 one acre lots in a row at the airport with highway frontage...will build a 5000 - 7,000 sq, ft. pre-engineered steel shop, provide a graveled and fenced yard with a 5 year lease starting at $ 14.00 per sq. ft. for the shell. Also willing to build and sell to tenant. One lot now leased and sold. Only 2 left! #127066: LOCATION, LOCATION, LOCATION 0.74 acres at the intersection of 17 Street and Alaska Highway. Ideal location for strip mall, service station, etc. $295,000 #127441: 80 ACRES OF INDUSTRIAL LAND with highway frontage, railway tracks, water and sewer in the City of Dawson Creek. Asking $31,250 per acre

YOUR ADVANTAGE IN ALBERTA SHOPPING PLAZA, HOTEL IN BIG CITY â&#x20AC;˘Asking: $14.9M â&#x20AC;˘REV:$2.3M: Hotel: $1,110,695; Rental: $513,253; Others: $669,734 â&#x20AC;˘48 oversized rooms plus 20 tenants and other big rev. income source â&#x20AC;˘Located in big city downtown core with 4.9 acres of land and 102,000 sq. ft. building. LIMITED SERVICE MOTEL â&#x20AC;˘Asking: $12.7M â&#x20AC;˘144 Rooms, Built: Jan. 2006 MONEY MAKING FRANCHISE MOTEL â&#x20AC;˘Asking: $11.2M â&#x20AC;˘REV: $3,158,106 â&#x20AC;˘3 yrs old, very busy location â&#x20AC;˘Limited Service, 85 Rooms, located in very busy city LIMITED SERVICE MOTEL â&#x20AC;˘Asking: $7.565M â&#x20AC;˘89 Rooms, Built: 2008 LIMITED SERVICE FRANCHISE MOTEL â&#x20AC;˘Asking $7.6M â&#x20AC;˘3 years old, 4 storey, 60 rooms â&#x20AC;˘Swimming Pool w/water slide â&#x20AC;˘Situated with excellent exposure in big city, AB LIMITED SERVICE FRANCHISE MOTEL â&#x20AC;˘Asking: $6.6M â&#x20AC;˘Very steady revenue â&#x20AC;˘58 Rooms with swimming pool & waterslide â&#x20AC;˘Located in big city in Alberta LIMITED SERVICE MOTEL â&#x20AC;˘Asking: $6.46M â&#x20AC;˘76 Rooms, Built: April 2007 FRANCHISE MOTEL IN SOUTHERN ALBERTA â&#x20AC;˘Asking: $4.99M â&#x20AC;˘REV: $1,124,570 â&#x20AC;˘Rev. is very steady past few years during recession â&#x20AC;˘48 rooms with client base from Provincial & Federal employees, tourists and oil, gas & agriculture. MOTEL IN B.C. â&#x20AC;˘Asking: $5.09M â&#x20AC;˘REV: $1,373,000 â&#x20AC;˘81 Rooms w/Leased Restaurant & Lounge â&#x20AC;˘Waterslide, Sauna, Pool â&#x20AC;˘Located Trans Canada highway with amazing view â&#x20AC;˘Under renovation for Franchise ďŹ&#x201A;ag MOTEL WITH RESTAURANT IN SK â&#x20AC;˘Asking: $2.99M â&#x20AC;˘50 Rooms â&#x20AC;˘REV: Rooms: $790,020; RESTAURANT: $656,490 â&#x20AC;˘Great location in the core of the oil industry MOTEL WITH RESTAURANT â&#x20AC;˘Asking: $1,390,000 â&#x20AC;˘REV: $558,725 â&#x20AC;˘44 Rooms + 3 VLT TRUCK STOP & RETAIL SPACE IN CALGARY â&#x20AC;˘Asking: $13.5M â&#x20AC;˘Travel facility comprising 45,700 sq ft on a 16.6 Acre site, provides for future re-development â&#x20AC;˘Strong sales with long history and 19 tenants including national brand name GAS BAR / CAR WASH â&#x20AC;˘Asking: $4.99M â&#x20AC;˘REV: $9,400,000 â&#x20AC;˘Great facility, 9 years old, located in big AB city â&#x20AC;˘Extra 1 acre of land valued at over $1M GAS BAR, C-STORE AND A&W â&#x20AC;˘Asking: $4.19M â&#x20AC;˘REV: Gas Bar/C-Store $5,226,877, A&W $1,057,939 â&#x20AC;˘N.O.I. - $883,698 SHOPPING MALL â&#x20AC;˘Asking: $3.39M â&#x20AC;˘N.O.I. - $231,943 â&#x20AC;˘ 6 tenants CAR WASH NEAR CALGARY â&#x20AC;˘Asking: $3.89M â&#x20AC;˘REV: $700,000 â&#x20AC;˘7 bay and 1 auto. â&#x20AC;˘Year: 2004.

MAXWELL

SOUTH STAR REALTY â&#x20AC;˘ www.leechoonho.com FRANCIS LEE, Associate Broker

IC & I Full Commercial Member â&#x20AC;˘ Manager Business & Investment Div

For More Details

Tel: 403-680-6130

Email: francisleemaxwell@gmail.com #20, 8180 Macleod Tr. South, Calgary

Riverfront Townhouse site $500,000 1.76 acres - approx 263â&#x20AC;&#x2122; of riverfront zoned RM1 - multiple residential preliminary drawings for 13 townhomes For Sale or Lease $575,000 Commercial bldng -9630 sq ft on 3 levels downtown location - great exposure ideal for retail, design & professional offices

Elaine Kienzle 250

563-8769

www.elainekienzle.com

VISIT OUR WEBSITE AT: www.calgaryland.net

ASKING $2.8 Million

Looking to invest in BCâ&#x20AC;&#x2122;s Northern capital?

$"-("3:"3&" %&7&-01.&/5-"/%4 EAST CALGARY - 84 ST. SE 98 Acres near Stoney Trail $15.6 Million ROCKY MOUNTAIN HOUSE Golf Course, Campground and Development Land. 303 Acres, Zoned Recreational $3.79 Million ROCKY VIEW 160 Acres on Country Hills Boulevard $5.6 Million EAST CALGARY - 17TH AVE SE 160 Acres near Stoney Trail $20 Million EAST CALGARY RY - 844 St. NE near Stoney 160 Acres ne ear Sto oney Trail Trai $32 M Million illion EAST CALGARY - 17 Ave SE 13.52 Acres Stoney Trail Frontage $6.76 Million CHESTERMERE - SIERRA VISTA Single & Multi Family, Retail, Golf Course, Area Structure Plan. 5-7 Units Per Acre 53 Acres - $6.9 Million 88 Acres - $8.9 Million 140 Acres - $16.1 Million 160 Acres - $18.4 Million

KEVIN MOORE (403) 617-2846 XXXDBMHBSZMBOEOFU

-FHBDZ3FBM&TUBUF4FSWJDFT -BOE%FWFMPQNFOUBOE.BSLFUJOH $PNQMJNFOUBSZ-BOE0XOFS$POTVMUBUJPO


B10

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

OUTLOOK 2012 Prairie’s commercial real estate seen surging into 2012 with Calgary taking the lead

WESTERN INVESTOR innipeg has a retail surge, Regina is all about office space and Saskatoon is strong in the industrial sector this year.

8

But when you talk about the hottest commercial real estate environment on the Prairies for 2012, Alberta leads the conversation. The Urban Land Institute ranks Calgary and Edmonton numbers 1 and 2 on the Prairies as the “markets to watch” this year, noting the two cities are feeding on a surge in oil prices. The institute bases its rankings on interviews with top players in the commercial real estate market. Its findings: Calgary is ranked as a “buy” this year by more than 40 per cent of potential investors in the office, retail and industrial markets, well ahead of Toronto, Montreal or Vancouver. Edmonton was third in the overall Canadian rankings, behind only Calgary and Vancouver.

$BMHBSZ

One only has to glance at the surprising Calgary office sector to see why the city is attracting investors. Last year, Calgary experienced record takeup in office leasing, driving the office vacancy rate down to 6.1 per cent by year-end amidst forecasts it would plunge to 4.3 per cent this year. This is a remarkable turnaround from two years ago, when the downtown vacancy level was 13 per cent and many feared a glut was forming as the giant Bow tower began to take shape. Last year, tenants leased 2.42 million square feet of Calgary offices, pushing up Class A lease rates to an average of $31 per square foot and spurring new construction. Now, with 1.9 million square feet of office space underway, the Bow is fully leased – it officially opens this year – and tenants are also

moving into the twin-tower Eighth Avenue Place, the 1.8 million-square-foot office complex with the first LEED platinum tower in Canada. Seventy-five per cent of space in the first tower has already been leased. In the industrial sector, Calgary’s vacancy rate is forecast to fall to 2.9 per cent this year, down from nearly 5 per cent just two years ago, according to CBRE. “Calgary has attracted many distribution and warehouse operations, a trend that will continue into 2012,” CBRE stated. Leading the industrial curve is Oxford Properties’ $500 million Oxford Airport Business Park, a 4 million-square-foot mixeduse – industrial, retail, office and hotels – development covering 260 acres. It will complete half a million square feet of industrial in the first phase this year. In all, 1.6 million square feet of industrial space is expected to be under construction in Calgary in 2012, but absorption is forecast at 1.39 million square feet. The sale price for industrial space will reach $169 per square foot in 2012, up from $160 per square foot in 2011, while average lease rates will increase to $8.31 per square foot, according to estimates. The retail sector will also remain tight this year, with a forecast that vacancy rates will remain in the 5.5 per cent range. Due to a lack of supply, total sales of retail property this year in Calgary are expected to total $275 million, down from $367 million in 2011. Sales of apartment buildings, however, will strengthen as an influx of young workers drives the residential vacancy rate down to 2.9 per cent, the lowest level in years. Multi-family building sales are expected to top $100 million in 2012, up from $96 million a year earlier.

Photo: Station Lands

FRANK O’BRIEN

Photo: Colliers International

"MCFSUBUIFNBSLFUUPXBUDI

LEFT: Calgary’s Eighth Avenue Place: 75 per cent of the first tower been leased up. RIGHT: The Epcor tower in Edmonton: the office vacancy rate is forecast to fall to 9.1 per cent downtown this year. In all, 32 Edmonton office projects are planned or started.

ment roars on around it. Despite 625,000 square feet of new office space coming to market last year, the downtown vacancy rate is forecast to fall to 9.1 per cent in 2012, down from 10.3 per cent at the end of last year. No new construction is planned for 2012, which should keep vacancies fairly tight. An increase in demand from engineering firms and others linked to the oilfields is expected to put pressure on the limited Class AA space. Average Class A lease rates are a relative bargain in Edmonton, at less than $20 per square foot expected this year. And big investors are moving in. In &ENPOUPO Alberta’s capital city is a job generator, where December, Toronto-based Whiterock Real the unemployment rate has plunged to 5.3 per Estate Investment Trust snapped up nine cent as nearly $120 billion in oilsands develop- Edmonton flex-office/industrial properties –

totalling nearly 620,000 square feet – for $105 million. It should be a good play: Edmonton’s industrial lease rates are forecast to rise to $9.25 per square foot on average this year, up from $8.90 per square foot in 2011. Demand for industrial space, especially in the southside industrial parks, will lower the vacancy rate to 3.8 per cent, compared with 6.1 per cent just two years ago, according to CBRE. This year, it is forecast that 2.4 million square feet of industrial space will be leased up, while just 1.2 million square feet will start construction. Total sales of industrial property are expected to top $425 million in 2012, up from $400 million a year earlier.

"MCFSUB

UNIQUE PURCHASE OPPORTUNITY Two adjacent highway commercial lots (5.6 acres total). Immediately N.W. of City Limits on Highway 1A in prestigious Bearspaw community. Magnificent unobstructed mountain and city views. One-of-a-kind B-1 zoned properties. Take advantage of this rural setting with urban customer base for your business venture. 403-860-4966 or:

www.nagway.com

marketing your franchise? Call Christine at the

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

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

LAKEFRONT BEAUTY ONLY 90 MINS FROM CALGARY

$3,250,000 KACIKEWIN CAMPGROUND & CABINS Only 40 min. west of Edm. 10.00 +/- Fully treed acres. 89 beautiful lakefront sites. Fully rented last 9 yrs. Store/Manager's residence. Room for expansion! Large sandy beach area. Located west of Alberta Beach on Lac Ste. Anne.

Chalet style cottage or year round home on a quiet cove. Absolutely loaded with upgrades and features. Walkout basement. Stunning views from all decks. Private Parklike yard with paved drive and mature landscaping. Excellent waterfront depth and dock system. Pine Lake is famous for its sandy bottom, excellent boating, watersports and fishing opportunities. One of a kind property guaranteed to impress. Only 90 mins from Calgary and 25 mins East of Red Deer. More info at www.pinelakeproperties. ca

Title

❏ Two years ............$75

Company

❏ Three years .......$105

Address

CENTRAL ALBERTA CAMPGROUND OPPORTUNITIES

LAKEFRONT! 403-347-0744

Name

Bill my:

❏ Visa ❏ American Express ❏ MasterCard ❏ Cheque enclosed

GST Registration No. 10565567 GST Included

City Prov Postal code Phone

Fax E-mail

Credit Card No. Expiry Signature

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

$829,900

WANTED: CENTRAL ALBERTA MOBILE HOME PARKS. WE HAVE BUYERS!!!

DUSTY SMITH TEAM SUTTON LANDMARK REALTY / RED DEER, AB

403-347-0744 • www.dustysmithteam.ca

$42 could make you millions!


B11

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

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With a heart-stopping rise in potash prices and demand, Regina businesses are looking to expand or upgrade their space, while new businesses and new workers arrive in the city. The result is an office vacancy rate that has plunged below 1 per cent, the lowest in the country, if not the entire continent. This has spurred the City of Regina to offer generous tax breaks for office developers. The city recently awarded a five-year property tax exemption to the developer of a 20-storey downtown office tower, and is considering extending a similar offer to all comers. The new Mosaic tower will open this year as the first major new office space in Regina in more than a decade. The city’s plan is to provide a 20 per cent property tax discount for three years for developers of either Class A or Class B office space in the downtown area. The incentive would stay in place until the office vacancy rate reaches at least 5 per cent, according to city officials. Currently, according to a study by commercial realtor Avison Young, Regina’s Class A office vacancy rate is around 0.8 per cent, with its Class B office space even tighter. The industrial market is just as difficult for tenants. Regina has nearly the lowest industrial vacancy rate in Canada, at 1.24 per cent, according to Colliers International.

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Saskatoon may be the Prairie city of the future, according to 215-page report prepared by consultant MDX Development Strategies, which looked at demand for commercial real estate over the next 20 years. The report projects Saskatoon will hit 325,000 people around 2028 and will require at least six new hotels by that time. Retail space is estimated to jump to 13 million square feet from 10 million square feet. Office space will grow 40 per cent to 6.8 million square feet from 4.8 million square feet. And industrial space will increase to 22.3 million square feet from 15.2 million square feet, the MDX report estimates. Industrial speculators may have got an early peek at the study: last year they started 400,000 square feet of speculative space and do not seem to be slowing down. “We are seeing a shift from primarily owner-user developments to a greater emphasis on industrial investment, something uncommon [a few] years ago,” said Tom McClocklin, president of Colliers International in Saskatoon. All of the speculators may not see the returns they expect, at least not this year. Saskatoon’s industrial vacancy rate has shot up from 2.1 per cent in the first quarter of this year, when most speculators were breaking ground, to 3.54 per

Photo: IKEA

Photo: General Roofing Systems Canada

Retail should roar this year, with an estimated $550 million in property sales expected, the highest level in years and more than double the pace of two years ago. Leading the surge will be Target and Wal-Mart. According to the Conference Board of Canada, Edmonton retail sales are forecast to rise 6 per cent in 2012, one of the strongest increases in the country. Jobs also translate into housing demand, with the apartment rental vacancy rate forecast to fall to 3 per cent in 2012, down from 3.8 per cent in 2011. Total investments in rental apartment buildings, curtailed somewhat by a lack of product for sale, is forecast to rise to $200 million in 2012, the best showing in at least three years. Right now, apartment blocks are trading in the LEFT: Speculators are rushing 440,000 square feet of industrial space into the tight Saskatoon market.RIGHT: Winnipeg’s IKEA: landrange of $130,000 to $140,000 per suite. mark store will open later this year. 1SBJSJFDPNNFSDJBMWBDBODJFT Market

Office vacancy*

Calgary Edmonton Regina Saskatoon

Industrial vacancy

Retail vacancy

2.9 per cent 6.2 per cent 2.4 per cent 2.4 per cent

5.5 per cent 6.1 per cent 1.3 per ent 3 per cent

5.7 per cent 10.8 per cent 1 per cent 4.5 per cent

*Over all vacancies, city and suburbs. Source: CBRE/Colliers International/Western Investor

cent in the third quarter. Investors are buoyed by a levelling of land prices, which now vary between $400,000 to $500,000 per acre for serviced industrial land in top-tier sites. Industrial lease rates for new product are also unchanged, at around $10.50 to $12.50 per square foot.

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The opening of the 300,000-square-footIKEA outlet in Winnipeg later this year will not only firm the anchor for the giant Seasons and Tuxedo super regional centre, but may also signal a new retail development cycle. The city has a retail vacancy rate of just 1.9 per cent and “many national and international retailers will be looking at opportunities to enter the market this year,” according to a CBRE survey. Downtown, older retail buildings are being demolished to make way for new wave of highend retail around the MTS Centre, home of the

Winnipeg Jets. The first phase is a five-storey retail and office complex, topped by a 14-storey hotel. This year will also see the completion of the CentrePort Canada industrial complex in Winnipeg’s northwest. The City is spending $17 million to service the 1,100-acre site that will open in the second quarter. Despite the new space, the industrial vacancy rate is expected to remain at 3.5 per cent in 2012, with more than 444,000 square feet forecast to be leased up. Industrial lease rates are expected to bump up marginally to around $6.40 per square foot. With virtually no new construction this year, the office vacancy rate in Winnipeg is forecast to fall to 6.3 per cent in 2012, down from 7.8 per cent a year earlier. Class A lease rates this year will be in the $16.30 range, up slightly from 2011. (See our regional report on Winnipeg, page B-25).◆

"MCFSUB

NNN INVESTMENT OPPORTUNITY !!! ARIZONA INDUSTRIAL PORTFOLIO 4 Industrial Properties Offered at: $5,000,000 GILBERT, AZ

PHOENIX, AZ

Income: $70,200 Property Size: ±48,516 SF Additional ±33,000 SF available Building Size: ±5,015 SF Lease Expiration: February 2015

Income: $123,575 Property Size: ±65,000 SF Building Size: ±8,150 SF Lease Expiration: June 2018

*Leased by Fortune 500 Company!

*Leased by Fortune 500 Company!

CASA GRANDE, AZ

GILBERT, AZ

LAND PARCEL Income: $78,000 Property Size: ±1.978 acres Building Size: ±11,894SF Lease Expiration: January 2013 *Leased by Local Organization!

Lot Size: ±31,186 SF Zoning: Regional commercial Outside storage capabilities Adjacent to Gilbert property

For additional information contact:

JIM BOYD

(602) 882 - 0345

jboyd47@cox.net

INDUSTRIAL LAND w/BUILDING FOR SALE

Asking $2,532,500 - Ponoka, Alberta

SOLD SOLD SOLD

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

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


B12 Recreational Real Estate LIFESTYLE PROPERTIES

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

RECREATION FEATURE Future of long-planned Kootenay ski resort hinges on politics, new business plan

0OFKVNCPEFDJTJPO GLEN KORSTROM/BIV WESTERN INVESTOR he B.C. government appears poised to approve a controversial proposal to build a $450 million ski resort on Jumbo Mountain despite opposition from the Ktunaxa Nation, the New Democratic Party (NDP) and celebrity critics such as former National Hockey League (NHL) star Scott Niedermayer.

The opposition comes as international visitor counts to B.C. have plunged in recent years, fuelling criticism that the project has a weak business model. International visitors to B.C. fell 11.2 per cent between 2006 and 2010, despite 2010 being the year the province hosted the Winter Olympic Games. During that time, visitors from the United States fell 14.5 per cent; visitors from Japan fell 41 per cent; and visitors from the United Kingdom fell 9.9 per cent. But Jumbo developer Glacier Resorts Ltd.’s senior vice-president Grant Costello countered critics who claim that his resort will hurt established B.C. ski destinations. He argued that people said the same thing about Blackcomb Mountain when it opened near Whistler in 1980. Forests, Lands and Natural Resource Operations Minister Steve Thomson told Business in Vancouver in a statement that he will decide “soon” whether to approve the Jumbo proposal just as duelling between supporters and opponents has intensified. Thomson’s priority, he said, is to “make sure that the process is done in an open, fair and

Photo: Trevor Florence/Invermere Soaring Centre

5

Year round skiing: This photo, taken last August, shows Jumbo peak and glacier looking toward Mt. Monica and Glacier Dome with Jumbo Valley and resort base below.

transparent manner.” Meantime, Costello is convinced that Glacier has met every government requirement. More evidence that the Liberals will support the Jumbo proposal is that Liberal MLA Bill Bennett, who represents the nearby East Kootenay riding, has also been tweeting to show his support for the project.

+PCHFOFSBUPS

“People need jobs,” Bennett told a media scrum earlier this month. “This is a viable opportunity to create several hundred jobs for many, many years and to create an icon, a tourism icon, an attraction that really isn’t matched anywhere else in North America.” Costello believes Thomson should

approve the Jumbo proposal because it: • adds to B.C.’s cluster of ski resorts and raises its ski destination profile internationally; • offers the prospect of year-round skiing and 6,000-foot vertical drops – something unavailable currently in B.C.; and • has cleared all obstacles, including a nineand-a-half-year environmental review, during the more than 20 years that it has been on the drawing board. The Ktunaxa oppose the development mainly because it would be on the site of what they consider to be sacred land and the spiritual home of the grizzly bear. But Costello and Bennett have hinted that the Ktunaxa are hypocritical in that stance because band members operate a hunters’ outfitting business 35 kilometres from

the proposed Jumbo ski resort site. Lower Kootenay Outfitters Ltd. is owned and operated by Wayne Louie of the Lower Kootenay Indian Band, part of Ktunaxa Nation. The outfitter specializes in hunts for grizzly, black bear, mountain goat, Shiras moose, whitetail deer, cougar, geese and ducks, according to its Internet listing. “They support the killing of grizzlies 35 kilometres downstream from Jumbo,” Costello said. “Out of the 70,000 square kilometres that they claim, they’re saying that the Jumbo Valley, which is only a few square kilometres, is the only place where the grizzly bear spirit resides. Draw your own conclusion.” Costello believes the Ktunaxa don’t want to have large private developments on their ancestral land before their land claim is settled. Government has extensively consulted the Ktunaxa, which is all that Victoria is legally required to do. The Ktunaxa do not legally have a veto over the project, and Costello believes it could set a dangerous precedent if Victoria backs down from approving a project that meets requirements simply because a native band is opposed. He called the Ktunaxa’s November 15 news conference, which featured Cranbrook-raised Niedermayer, an “intimidation” tactic. NDP tourism critic Spencer Chandra Herbert told Business in Vancouver that his opposition to the Jumbo proposal stems as much from economic reasons as from a desire to respect the Ktunaxa’s position. He said B.C. should not be blinded to economic realities by a developer that is willing to pump $100 million into building ski lifts and other infrastructure. “It’s public land,” Chandra Herbert said. “Jumbo is owned by everyone in B.C. It needs to make sense for the economy, the environment and society.”◆

NELSON, BC CANADA .EW#USTOM"UNGALOWS

Proudly presented by

www.KettlesonRoad.com To view call

LAURA SALMON REALTOR

250-551-8877 UÊÓ£xäÊEÊÓÓÈäÊõÊvÌÊ>ˆ˜ÊœœÀà UÊ7>ŽÊœÕÌÊ >Ãi“i˜ÌÊ܈̅ʈ˜‡yʜœÀÊi>̈˜} UÊ>À`ܜœ`]ÊÀ>˜ˆÌi]Ê/ˆi UÊœÀ}iœÕÃÊxÊ*ˆiViÊ ˜ÃՈÌià UÊ Ài>̅Ì>Žˆ˜}Ê>ŽiÊ6ˆiÜà UʘVÕ`iÃÊÎÊVÀiÊ*iÀܘ> Ê >ÌÕÀ>Ê*>ÀŽÊÜˆÌ…Ê ÀiiŽt UÊ >̈œ˜>Ê iÜÊœ“iÊ7>ÀÀ>˜ÌÞ UÊ$895,777ʈ˜VÕ`iÃʘiÌÊ-/

www.LauraSalmon.com Laura@LauraSalmon.com RHC Realty 601 Baker St., Nelson Each office is independently owned and operated.


WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com sss

Recreational Real Estate LIFESTYLE PROPERTIES B13 s

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

www.landquest.com LandQuest Realty Corp SmithersÊqÊ i˜ˆÃÊ œÀi LandQuest Realty Corp CourtenayÊqÊÕÀÌÊ ˆiÃi˜

SHOAL HARBOUR MARINA SIDNEY, BC

LandQuest Realty Corp NanaimoÊqÊ i>˜Ê՘`Þ LandQuest Realty Corp Cariboo – >ÀÜ˜Ê œÀÜ>À`

SADDLE MOUNTAIN RANCH ANAHIM LAKE, BC

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PORT BROWNING MARINA RESORT NORTH PENDER ISLAND

NORWOOD RANCH COURTENAY

UÊ-iÀˆœÕÃÊ`iÛiœ«“i˜ÌÊ«œÌi˜Ìˆ>t UÊ ÕȘiÃÃÊ܈̅ÊiÝVii˜ÌÊV>ÅÊvœÜt UÊ*œ«Õ>Àʓ>Àˆ˜>]Ê«ÕLÊEÊÀiÃÌ>ÕÀ>˜Ì UÊx°ÎÎʏiÛiÊ>VÀiÃÊEÊvœÀiŜÀiʏi>Ãi UʙÓä½ÊœÜÊL>˜ŽÊœVi>˜vÀœ˜ÌÊEÊLi>V… UÊ -Õ«iÀʏœV>̈œ˜ÊÜÉÊ`iÛiœ«“i˜ÌÊ«œÌi˜Ìˆ> UÊ ä°{{ʜvÊ>˜Ê>VÀi]ÊÓxÊψ«Ê“>Àˆ˜> UÊ >Àˆ˜iʜÀˆi˜Ìi`ÊVœ˜`œÊ«ÀœiVÌ UÊ ÀœÕ˜`ÊvœœÀʓ>Àˆ˜iÊVœ““iÀVˆ> UÊ >Àˆ˜iÊÃiÀۈViÊEÊÀi«>ˆÀÊv>VˆˆÌÞ UÊ <œ˜i`Ê>Àˆ˜iʘ`ÕÃÌÀˆ> UÊ $2,600,000

UÊ £]{È{Ê`ii`i`Ê>VÀià UÊ iÕÝiÊvˆ˜ˆÃ…i`ʅœ“iÊEÊœLˆiʅœ“i UÊ ,ˆÛiÀvÀœ˜Ìʅœ“i]ÊܜÀŽÊŜ« UÊ Àˆi`ÊÜi]ÊÃÌ>Ìi‡œv‡Ì…i‡>ÀÌÊ܏>ÀÊÃÞÃÌi“ UÊ "ÕÌLՈ`ˆ˜}ÃÊEÊ>Õ̜“>̈VÊÜ>ÌiÀiÀà UÊ i˜Vi`Ê>˜`ÊVÀœÃÇvi˜Vi`ÊvœÀÊLÕvv>œ UÊ /""Ê  *Ê/Ê" 9Ê$800,000

2ICH/SBORNE   RICH LANDQUESTCOM

2ICH/SBORNE   RICH LANDQUESTCOM

SHUSWAP LAKE DEVELOPMENT LANDS

UÊÓÎnÊ>VÀiÃʇÊ-œÕ̅ÊŜÀiÊ UÊ,œ>`Ê>VViÃÃÊ UÊÎääÊvÌʜvÊÜ>ÌiÀvÀœ˜ÌÊ UÊÀi>ÌÊۈiÜÃ]Ê«œÜiÀ]ÊÜ>ÌiÀÊ UÊÈäʏœÌÊ«Àœ«œÃ>ÊÀi>`ÞÊ̜Ê}œÊ UÊ ÝVii˜ÌʏœV>̈œ˜Ê UÊ, 1 Ê $1.85MÊ

HORSE PROPERTY QUESNEL, BC

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BC’S SHUSWAP LAKE 1.23 ACRE VIEW LOT

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FRASER RIVERFRONT HOME HOPE, BC

UÊ{ÊL`À“Ê{]äääÊõÊvÌʅœ“i UÊœÀ“>Ê`ˆ˜ˆ˜}ÊEʏˆÛˆ˜}ÊÀœœ“ÃÊLœÌ…ÊÜÉÊ ÀœVŽÊvˆÀi«>ViÃÊEÊv>˜Ì>Ã̈VÊÀˆÛiÀÊۈiÜà UÊ"vvˆVi]Ê`i˜]ʅÕ}iÊVÀ>vÌÃÊÉÊÀiVÊ>Ài> UÊ>˜`ÃV>«i`Ê`LiʏœÌÊ UÊ->˜`ÞÊLi>V…]Ê£°xʅÀÃÊvÀœ“Ê6>˜VœÕÛiÀ UÊ*œÃÈLiÊÃÕL‡`ˆÛ°Ê«œÌi˜Ìˆ>ÊÊ $579,000

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PEACEFUL RURAL SETTING WITHIN 1 HR OF VANCOUVER

16 ACRES SILVERTON, BC

PRIVATE PARADISE LITTLE GOOSE LAKE

COZY HOME ANAHIM LAKE, BC

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FRASER RIVER CAMPGROUND, RV SITE & COTTAGE - LILLOOET, BC

UÊΰxÊ>VÀiÊ«Àœ«iÀÌÞ UÊnääÊviiÌʜvÊÀˆÛiÀÊvÀœ˜Ì>}i UÊ->˜`ÞÊLi>V… UÊÓäÊÃiÀۈVi`Ê,6ÊÈÌià UÊ£äÊÌi˜ÌÊÈÌià UÊÎÊL`À“ÊVœÌÌ>}iʜÀʅœ“iÊEʜvvˆVi UÊ $495,000 -ATT#AMERON   MATT LANDQUESTCOM

DEVELOPMENT PROPERTY AT PENNIES ON THE DOLLAR

UÊ£xʏœÌʏ>ŽiÊۈiÜÊ«…>Ãiʈ˜ÊœœÌi˜>ÞÊ>ŽiÊ 6ˆ>}iʜ˜ÊœœÌi˜>ÞÊ>Ži UÊ œ““Õ˜ˆÌÞÊÜ>ÌiÀ]ÊÃiÜiÀ]ÊÀœ>`ÃÊEÊ …œ“iÈÌiÃÊ>ÀiÊ«Ài«>Ài` UÊ-ÌÀœ˜}ÊÃ>iÃʅˆÃ̜ÀÞʇÊÃ>iÊ«ÀˆViʜ˜Êȓˆ>ÀÊ œÌÃʈ˜ÊÓäänʇÊf£™£]äää UÊ Îxʎ“ÃÊÌœÊ iÃœ˜]Ê Ê$695,000 3AM(ODSON   SAM LANDQUESTCOM

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UÊ -ÕÀÀœÕ˜`i`ÊLÞÊ ÀœÜ˜Ê>˜` UÊ *œÜiÀ]ÊÜiÊÜ>ÌiÀ]ÊÌii«…œ˜iÊEÊÃi«ÌˆV UÊ i˜Vi`ÊÃiV̈œ˜ÃÊvœÀʅœÀÃià UÊ ,6Ê-̜À>}i]ÊÌ>VŽÊ>˜`Êܜœ`ÊÅi`ÃÊ UÊ /À>V̜ÀÊ>˜`Ê«œÀÌ>LiÊ->ܓˆÊ>Û>ˆ>Li UÊ $189,000ÊÊ

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BACKCOUNTRY LODGES & TOUR OPERATION - SELKIRK MOUNTAINS

BOAT HARBOUR MARINA NEAR NANAIMO, BC

6.5 KM OCEANFRONT & 1,300 ACRES - SUNSHINE COAST

UÊx£Ê>VÀiÊ`ii`i`ÊÜ>ÌiÀʏœÌʓ>Àˆ˜>ʇÊÞiÃ]ÊޜÕÊ œÜ˜Ê̅iÊÜ>ÌiÀʏœÌtÊ œÌÊœÀiŜÀiÊi>ÃiÊ UʏœÜÃÊÃ>iʜvÊ«Ài«>ˆ`ʏi>ÃiÃʜ˜Êψ«Ã UÊ£{äÊψ«Ê“>Àˆ˜>ʇÊÀœœ“ÊvœÀÊÈ}˜ˆvˆV>˜ÌÊ}ÀœÜ̅ UʘVÕ`iÃÊÓÈäÊ>VÀiÃÊ`iÛiœ«“i˜Ìʏ>˜`ÊÊ Óäʓˆ˜ÕÌiÃÊÌœÊ œÜ˜ÌœÜ˜Ê >˜>ˆ“œ UʈÀÃÌÊ̈“iʜvviÀˆ˜}ÊÊ $11M

UÊ£]ÎääÊ>VÀiÃʇÊÎÊ̈̏iÃʜvʏ>˜` UÊ“«ÀiÃÈÛiÊÈ°{nʎ“ÃʜvʜVi>˜vÀœ˜Ì UÊ,1ÓÊ✘ˆ˜}Ê«iÀ“ˆÌÃÊ£äÊ>VÀiʓˆ˜°Ê«>ÀViÊÈâià UÊÓÊœÀiŜÀiʈVi˜Ãià UÊ-ˆ}˜ˆvˆV>˜ÌÊ̈“LiÀÊVœ“«œ˜i˜Ì UÊ iÝÌÊ`œœÀÊ̜ÊܜÀ`Ê>“œÕÃÊ>ˆLÕÊ,>«ˆ`ÃÊ >˜`Ê*Àˆ˜ViÃÃʜՈÃ>ʘiÌ°ÊÊ$3,750,000

*AMIE:ROBACK    JAMIE LANDQUESTCOM

*ASON:ROBACK    JASON LANDQUESTCOM

67 ACRES WATERFRONT RETREAT

BABINE NORLAKES STEELHEAD CAMP

UÊ"«iÀ>̈˜}Ê>Ãʺœ`i˜Ê«ˆ˜iÊœˆ`>ÞÃ»Ê UÊ{ÊÃVi˜ˆVʏœ`}iÃʳÊÃÌ>}ˆ˜}Ê>Ài>Ê­ÜÞÊ£® UÊVVœ““œ`>̈œ˜ÊvœÀÊx{Ê}ÕiÃÌÃÊ­³ÊÃÌ>vv®Ê UÊ{ä]äääÊ>VÀiÊÌi˜ÕÀi`Ê>Ài> UÊ£Óxʎ“Ãʜvʓ>ÀŽi`ÊÌÀ>ˆÃ UÊ£Óäʘ>“i`ÊΈÊÀ՘ÃÊÊ -ATT#AMERON   MATT LANDQUESTCOM

THE NEW 108 RESORT CARIBOO REGION OF BC

UÊx{nÊ>VÀiÃʇʣnʅœiÊ}œv]ÊÌi˜˜ˆÃ]ʅœÀÃiÃ]Ê vˆÃ…ˆ˜}]ÊLˆŽˆ˜}]ʅˆŽˆ˜}ÊiÌV° UÊ{ÓÊÜi‡>««œˆ˜Ìi`Ê}ÕiÃÌÊÀœœ“ÃÊ UÊœœŽˆ˜}ÊvœÀʘÛiÃ̜ÀÊÉÊ*>À̘iÀÃÊ UÊÀi>ÌÊ`iÛiœ«“i˜Ìʜ««œÀÌ՘ˆÌˆià UÊ/œ«Ê˜ÛiÃ̓i˜ÌÊvœÀÊ>ʏœÜÊ*ÀˆVi UÊ $3,990,900

UÊ £ÉÓʓˆiʜvÊŜÀiˆ˜iʜ˜Ê/>`Ê>Ži UÊ 6iÀÞÊ«ÀˆÛ>ÌiÊÃiÌ̈˜} UÊ œÀ`iÀˆ˜}Ê ÀœÜ˜Ê>˜` UÊ i˜Vi`]ÊÌÀii`ÊEÊLi>ṎvՏ UÊ +Õ>ˆÌÞÊœ}ʅœ“iÊ UÊ /Àˆ«iÊ}>À>}iÊEʜÕÌLՈ`ˆ˜}à UÊ $725,000

+ONRAD-3CHMID -EIL   KONRAD LANDQUESTCOM

+ONRAD-3CHMID -EIL   KONRAD LANDQUESTCOM

UÊ*ÀœvˆÌ>LiÊÌÕÀ˜‡ŽiÞÊܜÀ`ÊV>ÃÃÊiˆÌiÊÊ vˆÃ…ˆ˜}ÊLÕȘiÃÃʜ˜Ê >Lˆ˜iÊ,ˆÛiÀ UÊ œ>ÌÊ>VViÃÃʇÊÈÓäÊV>ÃÈvˆi`ÊÀœ`Ê `>ÞÃÊ­“>œÀˆÌÞÊ>œV>Ìi`ÊÌœÊ >Lˆ˜iÊ,ˆÛiÀ® Uʈ}…ÊÀ>̈œÊÀi«i>ÌÊVˆi˜Ìii UÊ>ˆ˜ÊV>“«Ê³ÊÃ>ÌiˆÌiÊV>“« UÊ $1,600,000 ÊÊÊÊ $ENIS$ORE   DENIS LANDQUESTCOM

UÊ £äʓˆ˜ÕÌiÃÊvÀœ“Ê`œÜ˜ÌœÜ˜Ê œÕÀÌi˜>ÞÊ UÊ È{°ÓÇÊ>VÀiÃʇʓœÃ̏Þʈ˜Ê«>ÃÌÕÀiÊ UÊ œÀÃiÊLœ>À`ˆ˜}ʇÊÓxÊÃÌ>ÃÊ UÊ -iÛiÀ>ÊÀi˜Ì>Ê՘ˆÌà UÊ *>ÀŽÊEÊ/܏ՓÊ,ˆÛiÀÊ>VÀœÃÃÊ̅iÊÃÌÀiiÌÊ UÊ Õ}iÊL>À˜ÊEÊÀœ`iœÊ>Ài˜>Ê UÊ i}i˜`>ÀÞʺ >À˜Ê >˜ViûÊÊ $995,000Ê +URT.IELSEN   KURT LANDQUESTCOM

FRASER VALLEY ACREAGE SHOP / BARN FOR CAR BUFFS

UÊ£Ê>VÀi UÊ{ÊLi`Àœœ“]ÊÎÊL>̅Àœœ“ UÊ-…œ«Ê܈̅ÊÓÊLi`Àœœ“Ê>LœÛi UÊ,ÕÀ>Ê>Ài>ʜvʅœLLÞÊv>À“à UÊ1«}À>`i`ʓœ`iÀ˜ÊŽˆÌV…i˜ UÊ>À}iÊv>“ˆÞÊÀœœ“Ê«ÕÃÊi˜ÌiÀÌ>ˆ˜ˆ˜}ÊÀœœ“ UÊÊ$849,900Ê +EN(UNTER   KEN LANDQUESTCOM

BLACKSTOCK ESTATES 100 MILE HOUSE, BC

UÊœV>Ìi`ʜ˜Ê̅iʜÕÌΈÀÌÃʜvÊ̜ܘ UÊ7>Žˆ˜}Ê`ˆÃÌ>˜ViÊ̜Ê>Ê>“i˜ˆÌˆià UÊ"vviÀÃÊvœÕÀÌii˜ÊvՏÞÊÃiÀۈVi`ʏœÌà UÊÀœ“Ê£ÉÓÊ>˜Ê>VÀiÊ̜ʜÛiÀʙÊ>VÀià UÊ-iÌʜ˜Ê«ˆVÌÕÀiõÕiÊÜÕ̅ÜiÃÌÊv>Vˆ˜}ÊϜ«i UÊ1˜œLÃÌÀÕVÌi`ÊÛ>iÞÊۈiÜà UÊ*ÀˆViÃÊ $79,000Ê̜Ê$114,000ÊÊÊ #ARSON$ORWARD   CARSON LANDQUESTCOM

DEVELOPMENT ACREAGE HOPE, BC

UÊ ÝÌÀi“iÞÊÀ>ÀiÊ œµÕˆ…>>ÊÜÞÊvÀœ˜Ì>}i UÊn°ÓÓÊ>VÀiÃÊLiÌÜii˜ÊiÀÀˆÌÌÊEÊœ«i UÊ*Àœ«iÀÌÞʅ>ÃÊLii˜ÊÕÃi`ÊvœÀÊÛ>ÀˆiÌÞʜvÊÕÃià Uʈ}…ÞÊۈÈLiʏœV>̈œ˜ UÊ Õˆ`ˆ˜}Ãʘii`ÊܓiÊ/

Uʜ̈Û>Ìi`ÊÃiiÀtttÊ>ŽiÊޜÕÀʜvviÀ UÊ $595,000ÊÊ 3AM(ODSON   SAM LANDQUESTCOM

NORTHERN BC TIMBERED WATERFRONT ACREAGE

UÊxÇ°xÇÊ>VÀiÃÊ«ÀˆÃ̈˜iÊÌÀii`Ê«Àœ«iÀÌÞÊ UÊ iÛiÀʏœ}}i`Ê­iÃÌ°ÊÈ]äääʓή UÊ7iÃÌÊLœÕ˜`>ÀÞʈÃÊ i>ÃiÊ,ˆÛiÀ UÊ-œÕ̅ÊLœÕ˜`>ÀÞʈÃÊœiÊÀ܈˜Ê>Ži UÊ œÀ̅ÊLœÕ˜`>ÀÞʈÃÊ i>iÊ ÀiiŽ UÊ >ÃÌÊLœÕ˜`>ÀÞʈÃÊÜÞÊÎÇ UÊ $295,000 ÊÊÊ $ENIS$ORE   DENIS LANDQUESTCOM


B14 Alberta

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

ALBERTA IS AGAIN MOVING! MOTELS & HOTELS

≥ FULL SERVICES 63 Unit Motel with Rest., Pub,

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

Liquor Store. Shows excellent Rev. Ask $7.7M

operation) upgraded and very clean, Asking $1.1M. HARDISTY New 44 unit Motel. NAMPA, ALBERTA in busy boom town, 16 unit motel, 100 seat lounge, VLTs, liquor store and restaurant. PRICE REDUCED TO $990,000! CAMROSE ALBERTA 68 room, full services Hotel. REDUCED - NOW $4.0M.

OTHER INVESTMENTS

≥ DAYSLAND Convenience store and Gas Bar., ≥

Mechanical shop, all located on a 1.5 acre parcel with residence. Shows good revenue. Asking $375,000. CAMROSE, AB 2 Side by Side, newer 4 plexes. Fully leased. Asking $560,000 each

SOLD

FOR MORE INFORMATION CALL email:swancity@telusplanet.net www.swancityrealty.com

OREST:

780-679-8353 FAX: 780-672-1897 CAMROSE, ALBERTA

• 3000 sq ft character office space - Victoria Park • 4000 sq ft Penthouse office space - 17th Ave S.W. Calgary • 1500 sq ft fully equipped restaurant space for lease • RV Repair Business, Calgary - $650,000 • Neighbourhood Shopping Centre - $4.2M • SW Calgary neighbourhood - Deli - $69,500 • 6 Unit Condo - NW Calgary - $1.2 Million

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

t

Single and multi-family residential developments



t

Commercial, industrial and retail developments



t

Refinancing / acquisitions



t

Construction / land servicing



t

Bridge loans



t

Income producing properties

CareVest has been providing its industry leading lending services since 1994. Our integrated real estate services specialize in the investment, financing and syndication of real estate mortgages throughout Western Canada and Ontario. Bus: (403) 240-4000 www.toolepeet.com

Email: Commercial@prutp.com to Receive Our Current Alberta Apartment Report!

COMMERCIAL (RE/MAX Excellence)

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

BUSINESS ONLY zRV & Truck Wash - South Edmonton. Business Only - SOLD

CALL AYAZ OR SAM AT 780.641.1320 zBottle Depot Businesses - 3 Locations in AB. Call For Info BOTTLE DEPOT BUYING & ORIENTATION - BOOK NOW! ***CERTAIN CONDITIONS APPLY***

CALL RAJAN NULLIAH 780.441.5419 zCosmetic Store - Located in a busy mall w/ high foot traffic. Operating for over 16 years. - $179,900 + Inventory

CALL NEIL HORVATH 780.908.5630

INVESTMENT

Edmonton’s Business & Investment Specialists

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

CALL MIKI O’REE AT 780.200.6454 zSupreme Plating Business - w/property and inventory. 1.11 acres of prime property located in North Edmonton - $3.5M

CALL GREG STEELE AT 780.945.7800

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

CALL MIKI O’REE AT 780.200.6454

z61000 SF+ Whse & Of - 14135 128 Av. Priced to sell! - $5.8M zOffice/Medical Centre - Leduc. Fully leased. 8.2% CAP - $1.7M zNisku Multi-Tenant Bldg - Room for upside. VTB Avail. - $1.79M zRV Storage & Service - 8.87 ac w/7,362 SF buildings - $1.095M zGeneral Store w/Property - Outside Edm. Over $1M revenue. 2000 SF bldg on 0.345 acres. Excellent opportunity! - $595,000

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

CALL AYAZ OR SAM AT 780.641.1320

LAND

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

INDUSTRIAL

CALL ALLY PIRMOHAMED AT 780.604.0302

z Nisku Commercial Land - 5 Lots. Zoned CS - $400,000/Acre

CALL AYAZ OR SAM AT 780.641.1320

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

CALL NEIL HORVATH 780.908.5630

LEASING z Leduc Plaza - Prof/Medical Space Available. Only 5 units left! www.LeducPlaza.com

CALL AYAZ OR SAM AT 780.641.1320

w w w.RemaxComm.ca


B15

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

COVER County of Paintearth – long known for big rigs and oil – will soon host Alberta’s largest wind farm

1BJOUJUHSFFO DAVE HUSDAL

Photo: Capital Projects

WESTERN INVESTOR way from Alberta’s increasingly roaring truck traffic on Highway 2, the County of Paintearth might not seem like a development hot spot.

Unless, of course, you consider the energy industry, and the opportunities it presents. In the Paintearth area, a 75-minute drive east of Red Deer, things are looking up. Way up, in fact. As in sky-touching up. This year the area will welcome 83 huge wind turbines that will soar roughly 120 metres – the height of a 40-storey office tower – into the sky around the village of Halkirk, population 113. They’ll form the province’s biggest singlephase wind farm, and provide 150 megawatts of green generation capacity, enough to power 50,000 Alberta homes. The $357 million investment in what’s known as the Halkirk Wind Power Project will add to jobs in a sparsely populated region, and should help bolster the population. The project is being developed by Edmontonbased Capital Power, which wants to capitalize on the region’s steady light-wind regime and access to major transmission lines. While huge rotating turbines might not fly so well in the more heavily populated Highway 2 corridor between Edmonton and Calgary, the citizens of Paintearth have been welcoming, says Gary Cook, business development manager for Capital Power. “We’ve been welcomed into the community. We’ve had very strong support,” Cook said. “We’ve been surprised with the level of engagement and people’s willingness to help out whenever they can.” Cook said developing a project like the one now under construction 120 kilometres east of Red Deer is easier in a less-populated area, because achieving setback distances from

Photo: Richard Pitman

"

TOP: Tarolyn Peach, CAO of the County of Paintearth, county reeve George Glazier and George DeVloo (R), chairman of Paintearth Economic Partnership, at Crowfoot Crossing industrial park. RIGHT: Alberta’s biggest wind farm will feature 83 40-storey turbines.

homes and existing development is less of a challenge. The area’s familiarity with power generation and the energy industry likely doesn’t hurt either.

+PCHFOFSBUPS

Paintearth has long been home to one of Alberta’s larger power plants, the coal-fired Battle River Generating Station, which has a capacity of 670 megawatts. The plant, around since the 1950s, is north of Halkirk on the banks of the Battle River. The stable power production business has provided needed jobs to go with the up-anddown agriculture and petroleum industries. Work on the new Halkirk project started in the fall, but most of the concrete work and all of the turbine installation work will come in 2012. There will be about 150 jobs created during construction, with about 14 to 16 permanent

jobs resulting from ongoing operation of the giant wind turbines, Cook says. Paintearth property owners will also benefit from lease payments and another significant taxpayer. The wind industry boost is welcome at a time when the oil and gas business has also been picking up in the area and Alberta generally. That means there’s more work for companies such as Coronation-based M & N Construction, which now has a fall and winter workforce that varies between 150 and 200 employees. The firm’s main focus is pipeline construction, but it’s also involved in facility construction. Its clients range up into the Fort McMurray region, but local work has also grown more plentiful lately. Archie Merchant, M & N Construction’s president, sees that continuing. “It’s getting busier in the area,” Merchant said, with work coming not only from major players such as Apache Corp., but also from

small oil producers trying to make their mark in a region where next-generation horizontal drilling technology is squeezing more out of long-producing zones. While doing business away from the oilpatch hub of Red Deer can be a challenge, Merchant said a community such as Coronation (population 1,015) also has its advantages. “It’s been a great place for our business, because it’s a family-based business, and it’sa great place to raise a family,” Merchant said. Taxes are also lower (Paintearth’s nonresidential development makes up close to 85 per cent of its assessment base), but the labour pool can dry up fast during a boom, Merchant notes. On the other hand, staff can find nice homes for far less than what they would pay in Red Deer or smaller oilpatch centres. Homes in Coronation and neighbouring Castor, for example, can often sell for less than $120,000. Both Merchant and County of Paintearth administrative officer Tarolyn Peach say they expect oilpatch activity will fuel business opportunities in the area. “The motels and hotels are full here,” added Merchant, noting that wasn’t the case a few years back.

*OEVTUSJBM

The County of Paintearth comprises roughly 3,226 square kilometres. The region’s spine is Highway 12, which runs east-west, connecting

Please see Paint page B17

"MCFSUB PEACE RIVER, ALBERTA FOR SALE: COMMERCIAL BUILDING

Retail Land & Building For Sale AIRDRIE, ALBERTA

BUSINESS & INVESTMENTS MOTEL IN ST. PAUL • Asking price: $1.3M • Sales: $358,231 • NOI: $236,484 • Restaurant rental income $3,000/mo • 53 Units (12 Kitchenettes)

MOTEL IN MOSSLEIGH • Asking price: $599,500 • Sales: $160,000 • 17 Units + 14 RV parking stalls

Presently leased - some Vacancies available. 37,000 sq. ft. on 2.99 acres. Includes commercial Kitchen, banquet room plus smaller offices. Many upgrades and renovations. Downtown location - plenty of parking.

GROCERY STORE IN OYEN • Asking price: $1.29M • Sales: $2.6M(Liquor $0.5M included) • 2 Bedroom living quarters included

GROCERY STORE IN BLUE RIDGE

Offered for $2,500,000 NORTHERN ALBERTA FULL SERVICE HOTEL FOR SALE

211 East Lake Crescent NE & 605 East Lake Boulevard NE •Net Rentable Area: 16,500 sq. ft. •Parking: 20 Surface Stalls w/Paved Yard

•Land Area: 1.92 Acres •Zoning: IB-2

•Highly visible and desired location with traffic counts of over 12,000 vehicles per day (VPD) along East Lake Boulevard and 8,000 VPD along East Lake Crescent. 81 rooms and suites - on 12.5 acres. Highway frontage - lots of parking. 76 seat coffee shop, 135 seat dining room, 80 seat pub, 160 seat Sports Bar with VLT’s. 2 homes for staff housing.

Offered for $16,000,000 For Further Information and Details, Call RE/MAX GRANDE PRAIRIE

Thiry Kelemen 780-831-8804 thiry@telus.net

• Asking price: $339,000 • 2010 Sales: $927,659 • Only Grocery store in the Village • Located at the entrance of Paper Mills factory • Living Quarters: 1,455 sq ft - 3 bedrooms

STRIP MALL IN CARSELAND • Asking price: $2.2M • NOI: $140,400 • Building size: 12,600 sq ft • Leased 100%

•Can be easily re-developed to include multi-family and/or commercial mixed-use.

RETAIL BUILDING IN CALGARY

•Many value added amenities in the immediate area including restaurants, hotels, shopping, fitness, parks, and multi-family.

LIQUOR STORE IN ELNORA

•Only offering of its kind in the immediate area and its situated in a very popular area just off the QEII.

Asking Price: Call Agent For Details

Tyler R. Shannon Vice President, Investment, Associate Direct Tel: 403 508 6471 Mobile: 403 681 1555 tyler.shannon@dtzbarnicke.com

1410, 715 Fifth Avenue SW Calgary, Alberta, T2P 2X6 Tel: 403 508 1215 • Fax: 403 508 2675 • www.dtzbarnicke.com

• Asking price: $669,500 • NOI: $35,800 • Asking price: $249,000 • Sales: $450,000 • Living quarters included

ROCKY PARK CIR REALTY 403-681-7512 www.rockypark.ca


B16 Alberta

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

CAPITALIZE

ON EXPERIENCE BARCLAY STREET REAL ESTATE INVESTMENT OPPORTUNITIES FROM

PRICE REDUCED

FOR SALE

PRICE REDUCED

FOR SALE

INDUSTRIAL FACILITY

35,381 SQ. FT. 4043 Brandon Street SE, Calgary

s#OOLINGSTORAGE refrigerated processing area (140 ton) s7ASTEWATERTREATMENT on-site s$IRECTINTERIORCONNECTIONTO6ERSA#OLD storage facility s&ENCEDPARKING s02)#%     For more information or to view, please contact:

INDUSTRIAL FACILITY

FOR SALE APARTMENT BUILDING

53,233 SQ. FT. 4211 13A Street SE, Calgary

sBLASTFREEZERS extensive cooling storage, refrigerated processing area (64 ton) s7ASTEWATER treatment on-site s&ENCEDYARDANDPARKING s02)#%    

11817 22 STREET WEST 3ASKATOON 3ASKATCHEWAN

s4HISISIDEALLYLOCATEDALONGMAJOR transportation routes and is within close PROXIMITYTOMAJORAMENITIESSUCHAS 3T0AULS(OSPITALANDNUMEROUSBANKS grocery stores and retail outlets. s4HEBUILDINGHASBEENRENOVATEDFROMTOP to bottom, which means minimal yearly maintenance fees and premium rental rates. For more information or to view, please contact:

For more information or to view, please contact:

EARL ADELMAN eadelman@barclaystreet.com

DAVID WALLACH

GREG ALBRIGHT

GREG ALBRIGHT

galbright@barclaystreet.com

galbright@barclaystreet.com

dwallach@barclaystreet.com

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

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

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

FOR SALE

FOR SALE

CAHARACTER OFFICE BUILDING

CLIFF BUNGALOW COMMERCIAL OFFICE

224 15 AVENUE SW

505 21 AVENUE SW

Calgary, Alberta

Calgary, Alberta

0ROXIMITYTOTH!VENUE37 ONEOF#ALGARYSMOSTUNIQUEAND vibrant shopping and commercial districts, provides convenient access to various amenities including cafĂŠs, restaurants, shops ANDFASHIONBOUTIQUES

 SQFTOFCHARACTEROFFICEPREMISESLOCATEDONAPROMINENT  SQFTSITE4HEPROPERTYISLOCATEDIN#ALGARYSVIBRANTTH 3TREET372ESIDENTIAL#OMMERCIAL$ISTRICT #LIFF"UNGALOW

For more information or to view, please contact:

For more information or to view, please contact:

RICHARD LEWIS rlewis@barclaystreet.com

COMMERCIAL REAL ESTATE

SOLUTIONS

RICHARD LEWIS

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

rlewis@barclaystreet.com

Office, Retail, Industrial

Land, Investment

SALES AND LEASING

SALES

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

Property Management

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

WWW.BARCLAYSTREET.COM


Alberta B17

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

1"*/5from B15 Red Deer with Saskatchewan. Halkirk, Castor and Coronation are all located along the highway, and once shared the same rail line, but it was abandoned east of Stettler, the regional service centre 20 minutes west of Halkirk, more than a decade ago. Now the old right-of-way provides a corridor for a regional water line and communications lines. The new water line taps into the Red Deer River and is available to businesses looking to set up shop in Crowfoot Crossing, the 77-acre industrial park the county is developing at the junction of highways 12 and 36. The increasingly busy Highway 36 is a popular north-south haul road for heavy oilpatch equipment headed to Fort McMurray. The road is more suitable than Highway 2 for oversized loads because it lacks underpasses that can be obstacles. The county has been busy talking with various developers, in an effort to add a large truck stop and hotel to Crowfoot Crossing, a major truck stop. Paintearth is designated as the “high-wide load” corridor for the province. Each day an average of 1,300 large trucks pass through the county, most headed north to the oilpatch. Lots in the industrial park sell for $70,000 per acre. “We have several interested developers right now looking at opportunities in our subdivision,” Peach said. That likely reflects not only Alberta’s resur-

gent oilpatch, but general activity in the area, where companies such as Apache andCutpick Energy are expected to drill hundreds of wells in the years to come. There’s also optimism in the small-business community. “In our communities, we’ve had several new commercial businesses open in the last little while,” said Peach, who notes the expanded Home Hardware store in Castor can draw business from far beyond the community. While retail leakage to service centres to the west (Stettler) and to the northeast is a concern to the business communities in Castor and Coronation, Peach says it’s not hard to find retail options locally. “There are very few things that I can’t get here,” said the county’s CAO, who notes her father, who lives an hour away, considers it a treat to hit Home Hardware and other shops in Castor. Castor Mayor Gary DeVloo confirms economic activity is growing in the area, along with new home construction. DeVloo said one of the keys for his community is maintaining good recreation facilities that keep people playing locally. It’s easier to shop down the road if you’re already going there for things such as hockey tournaments, DeVloo notes. While the Paintearth area hasn’t grown significantly in terms of population, Coronation, Castor and Halkirk have all maintained schools, and access to medical services locally has been a key focus. Castor, Coronation and Consort, further east down Highway 12, have

 2VJDLGBDUT

WANTED!

To Edmonton 56

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

53

Red Deer

36 12

Stattler

2

Castor COUNTY OF PAINT EARTH

Halkirk Coronoation

Call Sammy

To Calgary

EMPIRE REAL ESTATE GROUP 1BJOU&BSUI "#

780-906-6652 PUBS For Sale

Population (including towns) 4,185 Average house price $120,000 Airports 2 (Castor and Coronation) Drive to Edmonton or Calgary 240 kilometres Industrial lots $70,000 per acre (Crowfoot Crossing) Wind turbines on the horizon 83 Website www.paintearth.ab.ca

Waterfront Pub & Detached Liquor Store

long shared five doctors to keep residents from heading west to Stettler. Unlike some parts of rural Alberta, Paintearth municipalities clearly have a friendly spirit of co-operation when it comes to attracting investment. Said DeVloo: “If it’s in the county we all win … if it’s Coronation, Castor, Halkirk or the County of Paintearth, we all benefit.”◆

Land, buildings and business Prince Rupert, BC $2,500,000 BC’s fastest growing super port city

For Lower Mainland Pub Opportunities call:

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

PRIME RETAIL SPACE FOR LEASE 800 - 10,000 sq. ft.

GREAT RETAIL SPACE FOR LEASE Centre 89, Calgary • Up to 13,000 sf • Going home side of Macleod Trail Tim Anderson Tel: (403) 291-8866 tanderson@naicalgary.com timjn_anderson@yahoo.ca

HOTEL - FULL SERVICE SOUTHEASTERN ALBERTA • N.O.I. in excess of $725,000 • Full Service Including Conference / Wedding facilities • Well Flagged • 42 rooms with room and plans for expansion • Two lounges • High VLT count • Net Rental income as well • Priced to Sell! 5 MOTELS PRICED UNDER $700,000 • Located in various southern Alberta towns • Great returns for an on-site operator • Have your own business for a little more than the cost of an average home in Calgary. Jim Balfour Tel: (403) 291-8860 jbalfour@naicalgary.com

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

RETAIL/SHOWROOM SPACE FOR LEASE 4303 - 9th Street SE, Calgary • 8,400 sq. ft. • 25 Parking Stalls SHOWROOM / WAREHOUSE BAY FOR LEASE Bay D, 4301 - 9th Street SE, Calgary • 2,100 sq. ft.

Bower Plaza, Red Deer, Alberta

BRANDED HOTEL FOR SALE • 66 rooms, Opened in 2009 • Strong growth in sales and EBITDA • Full Package to qualified buyers with Confidentiality Agreement Jim Courtney Tel: (403) 291-8873 jcourtney@naicalgary.com Westmount, Okotoks, Alberta CONDITIONALLY SOLD 154 Bowness Centre NW, Calgary, AB • 16,200 sf retail building • $1,800,000 ($111 psf) • +/- 1 acre of land CONDITIONALLY SOLD 4110 - 79 Street NW, Calgary, AB • 10,250 sf • Office Building Shane Olin Tel: (403) 708-9086 solin@naicalgary.com

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

4337 Macleod Trail S, Calgary, Alberta Shane Olin Tel: (403) 708-9086 solin@naicalgary.com

Calgary Office #1, 6204 - 6A Street SE, Calgary, AB T2H 2B7 • Phone: (403) 214-2344 FAX: (403) 214-0244 BUILT ON THE POWER OF OUR NETWORK. OVER 375 OFFICES WORDLWIDE.


B18 Alberta

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

THE CITY

MACHINE SHOP FOR SALE Vancouver Island â&#x20AC;˘ Turn Key Operation â&#x20AC;˘ Fully Equipped 3000 sq./ft Centrally located in the industrial area of Campbell River within a 5-min. drive to all suppliers, carriers and the downtown core. Building lease includes a 5 Ton Overhead Crane. Owner will consider financing.

Take control! $285,000.00

OF

CAMROSE

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

Gary Wessel - Daytime 250-286-1175 Evening 250-337-8950

RAY TELFORD

Write: 5204 â&#x20AC;&#x201C; 50 Ave., Camrose, AB, T4V 0S8 Toll Free: 1-888-672-4426 Cell: (780)878-1063 Fax: (780)672-2469 Email: rtelford@camrose.ca www.camrose.ca

www.crindustrialmachine.com

Commercial Property for Sale Esso Gas Station â&#x20AC;&#x201C; C-Store and Car Wash. Excellent location along highway. Business and property for sale. $4MM. Truck Wash & Quick Lube â&#x20AC;&#x201C; Great proďŹ ts and income. Only 5 years old. Sales over 1MM. Strong cash ďŹ&#x201A;ow. Asking $2.5MM for business and property. Spruce Grove - Highway Property. â&#x20AC;&#x201C; This is a lease buy back. Long-term lease available. Tenant in place. Asking $320,000. Boutique Hotel in B.C. â&#x20AC;&#x201C; 22 rooms comes with liquor store, pub, banquet room, lottery, restaurant, etc. Sales over $2.8MM and net income of $600k. Asking $4.5MM Commercial Building â&#x20AC;&#x201C; 3.9 acres. ATV Dealership. 2 buildings consisting of 24,000 sf and 12,000 sf steel building. Sales of $6MM. Asking $4MM for business and property.

jey@ajscapital.com

AJS Capital Inc.

780-469-4769

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Â&#x203A;;fnekfne<[dfekfe1I\kX`cXe[F]Ă&#x201D;Z\JgXZ\)#)*+jh%]k%"]ifd ((%''&jh%]k%Xk:fddfen\Xck_9l`c[`e^Xe[K_\AX]]\i9l`c[`e^ Â&#x203A;JkfepGcX`e1(#'''jh%]k%" _`^_\ogfjli\i\kX`cXk(-%''&jh%]k%fe DX`eJki\\kXk9Xik_Xe[>fjj\kDXefi Â&#x203A;9\Xldfek19l`c[\igXZbX^\jXe[^i\Xkm\e[fiĂ&#x201D;eXeZ`e^`eZ\ek`m\j Xk:fgg\i:i\\b<jkXk\jG_Xj\@1)%-0Ă&#x2020;+%('8Zi\j

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Val Toffoli

Selling Edmonton since 1987

Phone: 780-707-9395

REALTY EXECUTIVES POLARIS 4107 - 99th Street, Edm, AB T6E 3N4 Email: vtoffoli@shaw.ca â&#x20AC;˘ www.valtoffoli.com APARTMENT BUILDINGS: â&#x20AC;˘ 2 Units â&#x20AC;&#x201C; Full Side by Side Bi-Level Duplex. Great West End Location. Needs some TLC & priced Accordingly! ONLY $479,000 â&#x20AC;˘ 12 Ste Character Bldg. Owner Managed & Well Maintained. Large Stes. Central. Some upgrading to suites - REDUCED! â&#x20AC;˘ 12 Ste Character Bldg. Central McDougal. Over 6.5% cap rate. Some upgrades. Seller open to Reasonable Offers! â&#x20AC;˘ 18 Ste â&#x20AC;&#x201C; Ctl QMP â&#x20AC;&#x201C; 6.7% Cap Rate; 3 Appliances (Dishwashers); Some Covered Parking. Many Upgrades in & out! â&#x20AC;˘ 20 Ste â&#x20AC;&#x201C; Ctl McD â&#x20AC;&#x201C; 6.12% Cap Rate; Multitude of Upgrades â&#x20AC;&#x201C; Excellent Ste Mix ranging from 575-880 sq.ft. Balconies â&#x20AC;˘ 20 Ste â&#x20AC;&#x201C; Ctl McD â&#x20AC;&#x201C; 6.59% Cap Rate; Major Upgrades; Great Ste Mix (only 9/20 are 1 Bdrm!) Seller 2nd VTB Mtg Possible â&#x20AC;˘ 42 Ste â&#x20AC;&#x201C; Ctl QMP â&#x20AC;&#x201C; 2 S x S projects â&#x20AC;&#x201C; Over 6% Cap Rate; Many Upgrades; Super Ste Mix with LGE Stes! 2nd VTB Mtg B & B - HEALTH RETREAT â&#x20AC;&#x201C; DEVELOPMENT - EXECUTIVE ESTATES â&#x20AC;˘ 74 BEAUTIFULLY TREED ACRESin Parkland County near Edmonton/Devon. Unique 6600 sq. ft. Architecturally Designed Home with 8 Bdrms - 6 Baths. Outdoor PoolHorse Shelter-Triple Garage. Presently a Residential Estate. â&#x20AC;˘BUILDERS/DEVELOPERS: 40 acre parcel ready for submission to county for 8 lot subdivision. Bonus: 1 lot features gorgeous 3632 sq. ft. Executive home with triple garage & 2 large shops â&#x20AC;&#x201C; excellent home base for builder/developer. Across from 1 of the most prestigious subdivisions in parkland county.

WANTED: APARTMENT BUILDINGS Have QualiďŹ ed Buyers Ready to Purchase!

LIST

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

:fekXZk

1-800-661-6988

<dX`c1Xc`d%jfda`7aX]]\i`eZ%Zfd

EDMONTON & AREA

Ellerslie RE-Development Site Four acre site on the northwest corner of Ellerslie Road and 66th Street close to the Edmonton International Airport. Presently, zoning is being changed to commercial. New developments along 50th Street and Ellerslie Road include a new Edmonton Recreation centre development and the Edmonton Park and ride. 50th street connects onto Beaumont and Anthony Hendey Freeway. Highway to Beaumont is in expansion phase.

OFFICE BUILDING FOR SALE. Prime Location. On Jasper Avenue and 114th street in the Oliver Area. 4 storey building consisting of 56,012 square feet . Property is on 3 lots (50 feet x 150 feet) with also parking lots (92 feet x 150 feet) in the rear. Property is wedge between two drugs stores (Shoppers Drug Mart and Medicine Shoppe). New developments all around. ELLERSLIE RE DEVELOPMENT SITE 80 acre parcel across from the new Edmonton Recreation centre along Ellerslie Road. PULSE POINTE DEVELOPMENT SITE. Located in the Quarters project on 95th street and 102 Avenue. A total of 4 lots (14,200 sq.ft.) (142 ft frontage and 100 ft deep. Presently, building is 11,840 sq.ft. This is a new up and coming area. Plans for future LRT system is slated for the area. Asking $ 3,300,000 OLD STRATHCONA BUILDING. Located on Prime 82nd Avenue and 103 Street. Historical building. Long, long term Tenants, built in 1895. Building is 1650 sq.ft. of main ďŹ&#x201A;oor with 12 foot ceilings. High ceilings in basement. Well looked after building. Asking $ 1,100,000

Please Call Bob Chinn, Assoc. (bob.chinn@century21.ca) PH: 780-434-4700

Web: chinnproperty.com

GEORGIOâ&#x20AC;&#x2122;S BUILDING. Located across the street from Strathcona High School along busy 104th Street and 72nd Avenue. Main ďŹ&#x201A;oor is 3,500 sq.ft. with fully ďŹ xture restaurant and Upstairs is 1,600 sq.ft. presently used for ofďŹ ce. Great owner user opportunity. Asking $ 765,000 LAND AND BUILDING FOR SALE. Over 9,000 square feet on the main ďŹ&#x201A;oor. Living quarters upstairs with a basement level, parking to the east of the building. Lot is 14,577 square feet (120 feet x 122 feet) Located in the Quarters project on 95th street and 102 Avenue. This is a new up and coming area. Plans for future LRT system, hotels and high rises is slated for the area. BUSINESS CONDO IN OLD STRATHCONA 1500 square feet perfect for professional use, has 6 ofďŹ ces, storage, kitchen, reception area. In desirable Strathcona. Close to all amenities, busy trafďŹ c. FREESTANDING BUILDING. Fully leased out on busy Jasper Avenue on a 50 x 150 lot. Building is two storey approx. 5,000 square feet on the main ďŹ&#x201A;oor with paved parking in the rear.

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

westerninvestor.com

news archives reports updates

Contact us for more information: 604-669-8500 or advertise@westerninvestor.com

EDMONTON ON THE RISE

LAND FOR SALE â&#x20AC;˘NEW LISTING 0.63 acres. R9 Site across from Rexall Place ............................... $1.6 Million â&#x20AC;˘NEW LISTING 153 acres plus 18,400 sq. ft. building. Nisku Industrial Park .....$13 Million â&#x20AC;˘NEW LISTING 1.15 acres CNC Development Site. 167 Ave & 71 St ..............$1.25 Million â&#x20AC;˘INNISFAIL 106 acres HWy Industrial, 3/4 mile frontage to QEII .....REDUCED TO $32K/ACRE â&#x20AC;˘6.6 ACRES UPGRADER ALLEY Hwy. 37 & 34 St .........................$110K/Acre â&#x20AC;˘1.88 ACRES Summerside EIB Site ..............................................$22.50/sq. ft.

PENDING

BUILDINGS FOR SALE & LEASE â&#x20AC;˘NEW LISTING! 7900 sq ft warehouse. Central Edmonton. Stadium Road.............$8.00/ sq. ft. â&#x20AC;˘SHOPPES OF BLACKBURNE 111 St & Blackburne Drive. New strip 470 to 1500 sq. ft. bays ..................... $32.00/ sq. ft. â&#x20AC;˘NEW LISTING! 18,400 sq. ft. OfďŹ ce / Shop. Nisku Industrial Park .................Lease $13.50/sq. ft. ..........................................Sale $2.75 Million â&#x20AC;˘ENCORE CENTRE - 137 Ave & 66 Street. 1553 sq. ft. Finished Retail............... $28/sq. ft. â&#x20AC;˘WAREHOUSE BAY - 2300 SQ. FT., 118 Ave & 146 St..........................$9.00/sq. ft.

Call Bob Gaetz Owner/Broker Ph: 780-448-2020 F: 780-448-1998 rggaetz@telus.net www.gaetzrealty.com

CURRENT OFFERINGS â&#x20AC;˘

A Flagged Full Service Hotel , strategically well placed in a Premier location, completely up-graded, signiďŹ cant mortgage ďŹ nancing, very strong revenue performances; a good investment with a big up-side potential going forward. Asking $26,900,000.

â&#x20AC;˘ A Flagged 102 Room Full Service Hotel well located in a prime commercial area a dynamic city, the stellar performance of its operation is attested to by its continuous outstanding growth in revenues, plus substantial up-side potential. Asking $12,900,000. â&#x20AC;˘

A Flagged 95 Room Limited Service Hotel consisting a variety of suites, well located with highway exposure and surrounded by a substantial number of conveniences, continued superb revenue performances that yield substantial N.O.I. that ultimately result in excellent return on equity and investment. Asking $14,400,000.

â&#x20AC;˘ A Flagged 48 Room Limited Service Hotel , featuring indoor Swimming pool among its other amenities, very well located on a service road that gives it highway exposure, outstanding Revenue/ occupancy performances. Asking $4,900,000. â&#x20AC;˘ 4.6 acres of vacant prime commercial land available for immediate Development in a most sought after location with main artery exposure and very high daily vehicle trafďŹ c count., priced for immediate sale at an asking price of $4,100,000. â&#x20AC;˘ 148.41 Urban Reserve Land with potential uses for highway commercial and residential in a town with tremendous growth potential going forward, very reasonably priced at $2,990,000. â&#x20AC;˘ Located in a very poplar Ski Resort A New Deluxe 2-Bedroom Condo consisting of 2bathrooms, ďŹ replace, cable among many other superb Features, plus the many amenities such as swimming pool, sauna, ďŹ tness Center, indoor parking to name a few within the Building Complexâ&#x20AC;&#x2122; Immediate possession available, a great buy with cash to an existing mortgage of $330,900.00 more or less, at the asking price of $499,000.


Alberta B19

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

Each office is independently owned and operated.

INVESTMENT OPPORTUNITIES WESTLOCK COUNTY, AB

UÊ ÕÃ̜“ÊLՈÌÊL՘}>œÜÊ UÊ>˜Ì>Ã̈VÊÎ]ÓnÎÊõ°ÊvÌ°Ê UÊ"˜Ê™°£ÓÊ>VÀià UÊÎÊV>ÀÊ}>À>}i]ʏ>À}iÊŜ«

COUNTY OF RED DEER, AB

UÊ ÝiVṎÛiÊVœÕ˜ÌÀÞʏˆÛˆ˜} UÊ{xääÊõ°vÌ°Ê{ÊLi`Àœœ“à UÊL՘}>œÜÊ܈̅ÊÎÓÊ>VÀià UÊÃÕL`ˆÛˆÃˆœ˜Ê«œÌi˜Ìˆ>

PRIME LAND IN NORTH EDMONTON !!!

CAMPBELL RIVER, BC

140 ACRES - Hwy 37 and 50th St

This large area of land is bordering Edmonton and has the city snow dump 1/2 km east of it. 66 St Edmonton to divide property into two parts. Next to the Edmonton Technology Park. Phone for more info!!

UÊΰ£{Ê>VÀià UÊΙÇÊviiÌʜvÊ7>ÌiÀÊÀœ˜ÌÊ UÊ<œ˜i`Ê œ““iÀVˆ>ÊœÕÀÊ­ ‡{®Ê UÊۈiÜÃʜvÊiœÀ}ˆ>Ê-ÌÀ>ˆ}…Ì

MLS #

JERRY RACZKOWSKI 780-932-2121

E3283899

e-mail: jrcoach@telus.net

$2,534,400

RE/MAX Real Estate Commercial Division

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

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

LAND & BUILDING ONLY

$1,175,000

2 COMMERCIAL VACANT LOTS ON 50TH STREET IN COLD LAKE ideal for new develoopment 110 ft of frontage

$239,900

Adjacent lot to the above 165’ x 125’ with a 40’ x 60’ warehouse. All chain link fenced

$239,900

7.2 ACRES ZONED HIGHWAY COMMERCIAL Services prepaid

INVESTMENTS CALGARY AREA

MLS # E3283654

$4,875,650 DORIS THERIAULT

1-780-264-0010 dorisremax@hotmail.com www.StAlbertAB.com

ESTATE ACREAGES Southwest end of Calgary 3-4 acre parcels from high $300s Raw land with mountain views and underground services to property line

Attention

Agents:

BUYERS FOR YOUR LISTINGS

For more information on these and other properties

RE/MAX Cold Lake 2000

Prime area situated on the border of city of Edmonton. This 75 acre parcel has plenty of potential. 1 km from new Anthony Henday, South City development Goodridge corners has draft ready. Neighboring city of St Albert 1/2 Km west.

UÊ CROSSFIELD – 2 – 2 acre industrial lots – for sale or lease UÊ >À}iÊ industrial complex Ê v œ À Ê Ã >  i Ê œ À Ê Acreages with brand new estate i>ÃiÊ̜Ì>ÊœvʙÎäääÊõ°v̰ʜvÊLՈ`ˆ˜}Ê‡Ê homes also available. LՈ`ˆ˜}ÊV>˜ÊLiʏi>Ãi`ÊÃi«>À>ÌiÞÊÊqÊ>Ê Starting from high $800s œ˜ÊÈ°ÇÊ>VÀià UÊ CARSTAIRS –Ê œ““iÀˆV>ÊœÌÃÊvœÀÊÃ>iÊ priced to sellÊqÊV>ÊvœÀʓœÀiÊ`iÌ>ˆÃ Dal Dhillon B.A. (Hons) U 64 seat restaurant ʈ˜Êv>ÃÌÊ}ÀœÜˆ˜}Ê Re/Max Real Estate (Central) Vœ““Õ˜ˆÌÞÊ north of Calgary]Ê«ÀˆViÊ 403-969-2489 ˆ˜VÕ`iÃʏ>˜`]ÊLՈ`ˆ˜}ÊEÊiµÕˆ«“i˜Ì Dal@mycalgaryhome.com UÊ AIRDRIE qÊxäääÊõ°v̰ʈ˜`ÕÃÌÀˆ>ÊL>ÞÊ vœÀÊÃ>iÊ܈̅ʓ>ŽiÕ«Ê>ˆÀÊ՘ˆÌÊEʈ˜viÀÀi`Ê …i>ÌiÀà WHITECOURT, AB UÊ 137 acres ʈ˜`ÕÃÌÀˆ>Ê>˜`Ê>˜˜iÝi`ʈ˜ÌœÊ HOWARD JOHNSON SOLD Crossfield]ÊÃiÀۈViÃÊVœÃiÊLÞ]ÊÀi>`ÞÊÌœÊ Motel 105 rooms on highway. $4,750,000 LiÊ`iÛiœ«i`ÊqÊiÝVii˜ÌÊ«œÌi˜Ìˆ> Pizza Delight Franchise, good location and UÊ 141 acres Ê>˜˜iÝi`ʈ˜ÌœÊ Crossfield]Ê volume. Asking ½ cost of new, $229,000 iÝVii˜ÌÊ«œÌi˜Ìˆ> Owner retiring UÊ 132 acres Ê highway #2 frontage ]Ê ÓäÊ Ideal Oil Company head office. 2 levels 5,900 “ˆ˜ÕÌiÃʘœÀ̅ʜvÊ >}>ÀÞÊqÊV>Ê̜`>Þ sf offices and 5,882 sf shop and offices on .72 UÊ 279 acres ʏœV>Ìi`ʘiÝÌÊÌœÊ ÀœÃÃvˆi`ÊqÊ acres. Good location. Only $1,250,000 «œÃÈLiÊ`iÛiœ«“i˜ÌÊ«œÃÈLˆˆÌˆiÃÊ ÉQuizno’s Franchise – 5 years operating UÊ 137 acres Ê܈̅Ê#2 highway frontageÊqÊ 5 year lease. Good revenue. $249,000 iÝVii˜ÌÊ>VViÃà Call UÊ East Balzac Ê q Ê Ê œ v Ê >  } > À Þ Ê q Ê £ x £ Ê Leo Zelinski at 780-778-1207 1-800-248-4843 >VÀiÃ]Ê£ÓxäÊõ°vÌ°ÊL՘}>œÜ]Ê{ä½ÊÝÊnä½Ê leozelinski@remax.net +՜˜ÃiÌ RE/MAX Advantage WCT UÊ BEISEKERÊqÊÓ°ÇÎÊ>VÀiÃʈ˜`ÕÃÌÀˆ>Ê>˜`]Ê www.whitecourtrealestate.com vi˜Vi`ÊEÊ}À>Ûii`]Ê«ÀiÃi˜ÌÞÊÕÃi`ÊvœÀÊ Ã̜À>}iÊPRICED TO SELL UÊ CAR WASH ÊqÊ}Ài>Ìʈ˜ÛiÃ̓i˜ÌÊqÊV>Ê ̜`>Þ UÊ 320 acresÊiÝVii˜ÌÊv>À“>˜`ÊqÊÓäÊ “ˆ˜ÃÊ ÊœvÊ >}>ÀÞ UÊ 151 acres Êi>ÃÌʜvÊ A ir drieÊqÊ PRICED TO SELL UÊ 79 acres Ê …iÃÌiÀ“iÀiÊqÊiÝVii˜ÌÊ REACH QUALIFIED `iÛiœ«“i˜ÌÊ«œÌi˜Ìˆ>

$749,900

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

75 ACRES - 127th St & 190 Ave

call

DON SACKETT RE/MAX ACA REALTY

(403) 946-5657 ACA Realty

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

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

Each office is independently owned and operated.


B20 Alberta

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

www.cwedm.com

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

780-420-1177

investment@cwedm.com

MULTI-FAMILY OPPORTUNITIES •Bank Sale: 24 residential units + 6 main floor units; partially complete; Westlock AB; $750,000 •12 units in West Edmonton; 83% 2 or 3 bdm units; new roof 2007 •17 units; central location; concrete construction; new roof and windows. •29 units in 2 buildings in Wetaskiwin; 80% 2-bdms •3.83 acres prime dev. land in Windermere, SW Edmonton •Highrise site on Jasper Ave; 15,000 s.f. across from River Valley; improved with 2 apt. bldgs. (17 units) •Highrise site in Rutherford; 1.02 acres zoned for 105 units in dynamic area •Stony Plain development site; zoned apt. & attached homes •High density dev. sites & apt. opportunities in Wetaskiwin Apartment product is in demand! Please call for our opinion of value of your building!

CHRISTOPHER KAMPHIUS or RAPHAEL YAU multifamily@cwedm.com

COMMERCIAL CONDOS

3,000 – 9,500 sq. ft.; located at intersection of Fort Road, Wayne Gretzky Drive & Yellowhead; starting at $110/sq. ft. CONTACT BURKE SMITH

burke.smith@cwedm.com

DEVELOPMENT OPPORTUNITIES

+/- 19,701.20 SQ FT: Vacant serviced site in NE Edmonton. Zoned CB1 (Low Intensity Business Zone) ......................................... $395,000 +/- 0.947 ACRES: in Valemount, BC. Zoned C3 (Service Commercial) ................................ $49,500 +/- 1.05 ACRES: in Valemount, BC. Zoned HC (Highway Tourist Commercial) .............$455,000 +/- 3.84 ACRES: in SW Edmonton, Zoned IB (Industrial Business) ............................. $3,500,000 +/- 1.85 ACRES: in NE Edmonton on 50th Street ............................................. $1,295,000 +/- 0.31 ACRES: high visibilty location on 111 Avenue ....................................................... $610,000 CONTACT JEFF MCCAMMON OR DOUG BAUER

INVESTMENT SALES SITE

PRIME WEST EDMONTON LAND – RA7 • Ready to build • 3.34 acres • Asking $4,175,000 CONTACT JEFF McCAMMON / DOUG BAUER OR DUSTIN BATEYKO

STETTLER MALL, STETTLER, AB

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

WESTLOCK MALL, WESTLOCK, AB

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

CONTACT DAVID COONEY / DOUG FOGG OR HOWARD McCANN

DUGGAN MALL, CAMROSE, AB

FORT MCMURRAY, AB

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

MERRITT, BRITISH COLUMBIA CONTACT murry.osborne@cwedm.com or scott.sowinski@cwedm.com

• Development Land • 132.4 acres on Pigeon Lake • Area Structure Plan approved • 207 dwelling units • 200 site R/V seasonal park • 10.28 acres commercial development site

EDSON LANDING - $3,950,000

CONTACT JEFF McCAMMON OR DOUG BAUER

SPRUCE GROVE, DEVELOPMENT LAND

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

• 13,390 sq. ft. on 1.14 acres in Edson, AB • An opportunity to own a quality shopping centre which is 100% leased to excellent tenants with clear title, superior construction in a tremendous highway location.

CONTACT HOWARD MCCANN / DOUG FOGG OR ADAM MARTINSON

FORMER WAL-MART, MEDICINE HAT

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

CONTACT DOUG FOGG OR MARK McCANN

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

CONTACT IAN NEWMAN

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

MULHURST BAY CROSSING

advertise@westerninvestor.com

OFFICE BUILDING FOR SALE

• Well located 2 storey office building on 124 Street • Excellent owner/user opportunity with dental office built out on main floor • Total of 6,940 sq. ft. above ground • $1,850,000

CONTACT DOUG RAE

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

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QUESNEL, BRITISH COLUMBIA • An ideal opportunity for an investor interested in long term income stability as Centre is 100% leased to National branded tenants • Tenants include Boston Pizza, IRIS and A&W • Stabilized net income of $23,000 CONTACT HOWARD McCANN / DOUG FOGG OR ADAM MARTINSON

CONTACT HOWARD OR MARK McCANN

Join hundreds of commercial real estate professionals and business people who use the Western Investor every month to market their properties, services and business opportunities. Targeted editorial and distribution pattern equate to results not found elsewhere. Check out our media kit on-line at westerninvestor.com for more information or call us at 604-669-8500. Advertising deadlines are mid-month for the next month’s issue.


Alberta B21

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

"MCFSUB

Permits jump in Grande Prairie

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uilding permit numbers highlight a bounce-back year for northwest Alberta’s key service centre and oil and gas hub. As of the end of November, Grande Prairie’s 2011 building permit values had hit $184.8 million, up 52 per cent from the same period in 2010. surging petroleum sector is credThe jump in permit values was fuelled by ited with lower vacancy rates in the a modest increase in residential construction Edmonton industrial property market. and a much more significant hike in commerVacancy rates in both Edmonton and the surrounding area dropped in the third quarter cial and industrial buildings. The overall increase came despite a $20 milof 2011, according to industrial surveys. lion decline in the institutional sector. In the city, the industrial vacancy rate The improved 2011 numbers should be kept fell to 3.4 per cent for the period ending in perspective though, as Grande Prairie perSeptember 30. That’s 0.8 per cent lower than mit figures have exceeded $300 million annuit was a year ago. ally in the past. Vacancy in the city’s southeast sector The city also marked a significant milestone dropped to 2.7 per cent, while vacancy in the surrounding markets fell to 1.7 per cent, from in early December – the opening of its new $110 million Aquatics and Wellness Multiplex, 2.3 per cent three months earlier. a long-awaited amenity viewed as a key Still, Colliers International says there’s some nervousness, and building owners in the attraction of the resource-based city. city’s northwest aren’t doing as well as those in the southeast and surrounding districts. “There is a sense that confidence in the short-term is tenuous. We all hope for improvements in the world economy, which will drive demand in the Greater Edmonton market,” revealed the latest update from the ajor power transmission lines proposed real estate giant. for the Calgary-Edmonton corridor are There continues to be a different story in getting another look from the Alberta govEdmonton’s two main industrial sectors: the ernment before its regulator holds hearings southeast has steady activity and absorption on the issue. driven by the energy sector, while the northThe Redford Tories announced in early west has an abundant supply of speculative December they have appointed an indeconstruction and lagging absorption. This pendent panel to review plans for the highis shown in the fact that the northwest has voltage links that have drawn significant about 60 per cent more vacant space than the opposition in central Alberta. Southeast. Opposition to the lines has come not only Land sale volumes are expected to continue from landowners, but consumers as well. with most demand coming from owner/user “Our role is to ensure that all factors have purchasers. been carefully considered, including cost to Despite continued high oil prices, Colliers consumers and impact on industry,” said the predicts vacancy rates in the northwest are panel’s chair, Brian Heidecker. likely to increase over the next six to nine The review panel is to make recommendamonths as multiple speculative projects are tions to the government by February 10, completed and added to supply. 2012, prior to an expected spring election.

Edmonton industrial space tightens

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Province eyes high-voltage lines

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he stock market was rolling through rougher times in late 2011, but that has had little effect on the office space market in Calgary, where new space continues to be gobbled up in the city’s bustling downtown. According to Colliers International, office space in Calgary’s core is getting Calgary’s office vacancy seen falling below 5 per cent. tighter and more expensive, despite more space coming on line. Colliers says the third quarter of 2011 saw occupancy grow downtown by 617,000 square feet, pushing the availability rate down to 6.1 per cent from 7.7 per cent at the end of June. Large blocks of contiguous space are becoming increasingly rare, and even the forecast opening of the Bow tower in 2012 won’t produce a space glut. Far from it. In fact, when Cenovus Energy and EnCana move over to the Bow (Canada’s tallest office tower west of Toronto), much of the space they now occupy will simply pass to new tenants. “Despite the nearing completion of the Bow, the inclusion of EnCana’s and Cenovus’s remaining backfill space will have little impact on the overall vacancy rate, as most of their backfill space has already been leased or optioned to other tenants,” Colliers said. The company was predicting vacancy to decline below 5 per cent by the end of 2011, and its update raised the possibility of a major space crunch in the future, given that any major new projects will require years to complete. “If absorption in the market continues at the rate it has over the past year-and-a-half, limited space availability [similar to the 2006 situation when the vacancy rate declined to less than 1 per cent] is a real possibility,” Colliers warned. Photo: Can-eh-dian

8)"5¤4)"11&/*/(*/

Canmore condos Banff rejigs fastdip under $200,000 food formula

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xpensive Canmore isn’t looking so expensive these days if you’re shopping for real estate. While local ads still offer single-family homes in the mountain town for well over $1 million, the posted price for units in one local condo project has fallen to under $200,000 – something hard to imagine three or four years ago. One-bedroom units in the Lodges at Canmore, a project whose final phase was completed in 2010, are now on the market for $194,000. Two-bedroom units start at $224,000 in the Deveonian Properties project.

Colliers Macaulay Nicolls Inc.

+1 780 420 1585 Accelerating success.

15 SUITES, Downtown - $95 K/unit 20 SUITES Cromdale - $97 ,500/unit 20 SUITES Cromdale - $98 K/unit 22 SUITES, Downtown - $11 0K/unit 30 SUITES, Westend - $96,66 6/unit NEWER WAREHOUSE, 1455 sq. ft. - $369,000

AIRCRAFT HANGAR FOR SALE Highway 830, Warren Thomas Aerodrome, Strathcona County, Alberta c-!2#"',2&#* #02 ,"3120'* #02*," c?=$##29BB$##2.0#L#,%',##0#"12##*!-,1203!2'-, c:=$--2!*#0!#'*',%&#'%&2 c '01202#!-,1203!2'-,2&0-3%&-32 3'*"',% c ,Lɗ--0&#2',%I=*'%&2',%I?=$--2 'L$-*""--0 c#!30#.0)',% c0#21!*#02'2*#

Ken Williamson, CFA DIR +1 780 969 2999 ken.williamson@colliers.com

anada’s most popular national park community will consider a quota for what it dubs “formula restaurants.” That group not only includes fast-food chains such as McDonalds and Tim Hortons, but higher-end eateries such as Boston Pizza, Earls and The Keg. The quota consideration is the latest item to come from a review of Banff’s land use bylaw. Banff town council decided in late November that it won’t ban future fast-food franchises from the town or its main street.◆ – Compiled by Dave Husdal

APARTMENT OPPORTUNITIES 15 SUITES, NAIT - $105K/un it

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

www.colliers.com

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Pam Gill

(780) 455-4088 gillp@sutton.com

www.apartmentsinedmonton.com Sutton Central Commercial - AN INDEPENDENT MEMBER BROKER

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

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

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


B22 Alberta

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

WINDOW OF OPPORTUNITY!

Invest in land with development potential. 381 acres on Lake McGregor. Hour and 10 minutes SE of Calgary. Approximately 3/4 mile of shoreline. Gently sloping. Suitable for lake view lots or golf course. Vendor willing to lease back.

mpjohnson41@hotmail.com

INVESTMENT PROPERTIES FOR SALE!

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

18 UNIT WALK UP apartment in west Edmonton. Many upgrades. Good location. MLS listing at the best price per door price on the west end. SORRY, JUST SOLD! 23 UNIT APARTMENT, University area, nice condition and 5.75 cap. Call for proforma 13,231 SF, 5 BAY RETAIL STRIP MALL in Leduc, AB., with solid long term tenants. 9 years old. NOI over $153,000 per annum. 7 cap at $2,095,000 - PENDING! 68 FULLY SERVICED MOBILE HOME vacant titled lots located within a modern Mobile Home Park in High Level, AB. Fully serviced, paved roads, underground utilities, fenced and landscaped. MOTIVATED SELLER MAY CARRY 60% FINANCING FOR A QUALIFIED BUYER! MLS #E1014318. Price recently slashed to $975,000!

(Square Feet)

G 75% PENDIN

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

â&#x20AC;˘ 4.44 Acre Site â&#x20AC;˘ Lease or Purchase Options â&#x20AC;˘ Experienced Developer & General Contractor â&#x20AC;˘ LARGE Rear Yard!

RICK D. JENKINS POLARIS REALTY

$BMM.JLF(FPSHFPS #JMM4DIPFNBLFS

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

Fall 2011

â&#x20AC;˘ 30' High Buildings

www.property-solutions.ca

Colliers Macaulay Nicolls Inc. 3555 Manulife Place, 10180 â&#x20AC;&#x201C; 101 Street Edmonton, AB T5J 3S4

+1 780 420 1585 www.colliers.com

Accelerating success. Retail Investment Opportunity

Multifamily Opportunity

PONOKA TOWNE CENTRE

15 UNITS PENDING

14 UNITS SOLD

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

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

48 UNITS PENDING

129 UNITS AVAILABLE

Red Deer, AB 75% two bedroom units, large suites, ravine views, oversized site size

21 UNITS PENDING Edmonton, AB NAIT location, turnkey project, upside via LRT expansion

London, ON 11 Storey concrete high rise, condo quality, strata titled

12 UNITS NEW LISTING Edmonton, AB Centrally located, close to NAIT LRT route, new roof, boiler and windows, fully renovated, turnkey project

www.colliersmn.com\edmontonapartments

Amit Grover

Jandip Deol

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

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

EM TE TOWN

Ponoka, AB 22 acres, Highway 2 exposure

Alder Flats, AB Unique western themed town with cabins, campground and motel, operating business with excellent growth and upside

NEWER RETAIL STRIP MALL

Edmonton, AB 3 buildings totalling 16,259 SF, south Edmonton, principles only. Edmonton, AB NOI $498,136. Price $7,300,000. Area structure plan in place, partially serviced and next to built Tenants include: Starbucks, Telus & Bell. out residential development.

DEVELOPEMNT SITE

Jeff Grobman

Steven Pearson

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

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

12,044 sf 2 storey office/ retail, frontage on Gateway Boulevard, Price $1,400,000 SOLD

2874 Calgary Trail, Edmonton, AB 7,063 sf freestanding retail pad. Net income: $190,701/year Price: $2,200,000

PONOKA LUBE-X BUILDING 4714 - 50 STREET, PONOKA, AB 2,512 sf freestanding building, strong Covenant Tenant, Average Rental income - $69,500 Price - $868,750

DIR +1 780 969 3003 casey.mcclelland@colliers.com

80,000 SF BUILDING

Rimbey, AB Residential & commercial development on Highway 53

HEALTHWORKS BUILDING OUTBACK STEAKHOUSE BUILDING 10303 65 Avenue, Edmonton, AB

Casey McClelland Mark Swaenepoel

Land & Building Opportunities

24 ACRES

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

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

Hotels BEAVERLODGE MOTOR INN

Fort Saskatchewan, AB Limited service, 99 rooms, built between 1995 to 2000. Asking $10,400,000

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

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

10020 BIGGS AVENUE Fort McMurray, AB 53,300 SF land with 13,000 SF building. Excellent redevelopment C5 Land. (California Club Bingo)

20,000 SF RETAIL

26.99 ACRES OF INDUSTRIAL LAND Fort McMurray, AB Located on Hwy 69 close to the planned airport terminal

COMING SOON Fort McMurray, AB Up to 300,000 sqft of Industrial Development. Build to suit from 5,000 square feet and up. Close to airport.

Fort McMurray, AB For sale. With or without business. KUUSAMO DEVELOPMENTS Available immediately. Excellent Fort McMurray, AB exposure in a newer building 5 bays sold or leased, only 5 bays remain 2 LOTS WITH LAND & BUILDINGS Fort McMurray, AB 145 MACMILLAN RD. 280 MacLennan Crescent Fort McMurray, AB 10% Cap rate. $6,775,00. 290 16,800 SF industrial building, MacLennan Crescent 2.33 acres fully leased, NOI $700,000 w/ 6,000 SF shop. $5,450,000 rising to $750,000 in 2013

INDUSTRIAL BAYS FOR SALE OR LEASE

Ready August 1, 2011 occupancy Taiga Nova Eco Industrial Park

INDUSTRIAL BAYS Fort McMurray, AB 12,978 SF, for sale or lease 3 bays sold, 1 available

MOB DIR

+1 780 863 7355 +1 780 881 6297

ken.shebib@colliers.com

Land Opportunities

STARS INN & SUITES

Fort Saskatchewan, AB Turnkey opportunity. Limited service. Drayton Valley, AB Limited service, 52 rooms, built in 92 room. Modern amenitites. Asking $11,800,000 2005. Asking $4,490,000

WEST COUNTRY INN

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

FLAGGED HOTEL Edmonton, AB Full service hotel. 90 rooms. Leased F&B. Asking $8,750,000

Alberta Opportunities TOWER PARK LAND Grande Cache, AB c 86+ acres for development in Grande Cache c ASP in place or modify as you desire. c Demand for housing in Grande Cache. c Residential, retail, office, multi-family and industrial sites to be developed. c Interest from a food/grocery anchor tenant. Ken Shebib, CCIM DIR

7 ACRES LAND

Ken Shebib, CCIM

PARK AVENUE INN

Perry Gereluk

MOB

Fort McMurray Opportunities

+1 780 863 7355 +1 780 881 6297

ken.shebib@colliers.com

BELLWETHER PARK 13124 130 Avenue, Edmonton, AB FOR SALE 3.72 acres of land shovel ready for 76 row-housing units Price: $2,800,000

LAMONT DEVELOPMENT LAND NE-20-55-19-W4, LAMONT, AB FOR SALE Future highway commercial and residential development land in Albertaâ&#x20AC;&#x2122;s Industrial Heartland. Frontage on Highway 29 $ 48 Street. 143 Acres. Price: $1,430,000 ($10,000 per acre)

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

SOLD: WABAMUN LAKE LANDS Lakeshore Road, Parkland County, AB 9.09 acres of lakefront land zoned CR (Country Residential District) 142.84 acres of AG zoned land One of Albertaâ&#x20AC;&#x2122;s most popular lakes Sold for $1,600,000

CAMROSE LAKEFRONT LAND FOR SALE +/- 100 acres Significant gravel deposit 823,820 cubic meters of proven aggregate reserves. Price: $1,000,000

Mark Swaenepoel

Rick Argue

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

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


Saskatchewan B23

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

4BTLBUDIFXBO

â&#x20AC;&#x153;Province will lead the nationâ&#x20AC;?

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askatchewan will lead the nation in economic growth in 2012, according to the Bank of Montreal (BMO). â&#x20AC;&#x153;Real GDP will likely expand 3 per cent this year, helped by a rebound in agriculture output, before cooling slightly to a league-leading 2.9 per cent pace in 2012,â&#x20AC;? said Robert Kavcic, an economist with BMO Capital Markets. â&#x20AC;&#x153;Much better growing conditions during the summer helped the sector, and agriculture exports were up more than 16 per cent yearover-year through September,â&#x20AC;? Kavcic said in BMOâ&#x20AC;&#x2122;s latest provincial monitor. â&#x20AC;&#x153;Overall crop production should be up nearly 9 per cent in 2011, according to Statistics Canada estimates, with good-to-excellent quality reported.â&#x20AC;? Resource-sector activity remains robust, said the report released last month. â&#x20AC;&#x153;Potash production was up 25 per cent year-over-year through September, and the sector will continue to support growth in Saskatchewan,â&#x20AC;? Kavcic said. BHP Billitonâ&#x20AC;&#x2122;s Jansen potash mine is on track to begin production in 2015, while K+S recently announced plans to develop its Legacy Project, near Bethune, which is also expected to begin producing in 2015. Exploration activity in the oil and gas sector is also strong in the Bakken formation in southeastern Saskatchewan, and the province is expecting 4 per cent annualized growth in oil production through fiscal 2013-14, the report said. Commodity-sector investment is supporting the labour market and driving wage growth. â&#x20AC;&#x153;The provinceâ&#x20AC;&#x2122;s unemployment rate has averaged just 4.9 per cent, while average weekly earnings are up a firm 4.8 per cent year-overyear, even as the national average has cooled significantly,â&#x20AC;? said Kavcic. â&#x20AC;&#x153;Solid job prospects and relatively low liv-

ing costs should continue to drive population growth, and combined with a modestly lower tax burden, will support consumer spending and the housing market. Retail sales are up more than 7 per cent year-over-year, the fastest pace in the country.â&#x20AC;? BMO said Saskatchewan will regain the economic growth title in 2012, ahead of Alberta at 2.8 per cent. Canada is expected to see 2 per cent GDP growth in 2012.

Wall offers homebuyer incentives

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remier Brad Wall has pledged to support home buying in the province, with a series of measures introduced in the governmentâ&#x20AC;&#x2122;s recent throne speech. Among the incentives are grants to builders under the Saskatchewan Advantage Housing Plan, which provides assistance to developers of affordable homes. As well, $2 million will be available for the renovation of 70 to 100 secondary units under a Secondary Suite Program. The government also pledged to introduce the Saskatchewan First Time Homebuyers Tax Credit, with the new incentive providing a $10,000 nonrefundable tax credit to all first-time homebuyers. The government further outlined plans to extend notice periods for rent increases from one month to a year, applying to property owners who chose not to participate in the tenant assistance initiative established by the Saskatchewan Rental Housing Industry Association.

Building permits jump 22 per cent

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uilding permit increases in Saskatchewan have surpassed even Ontario this year, according to Statistics Canada, which notes permit values in October were up 22.4 per cent provincewide. This is ahead of a 22.2 per cent rise in Ontario and 10 times higher than the national average.

$BOPMBTIJQNFOUTUP $IJOBTPBSUPSFDPSEIJHI

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hina was a prolific buyer of Canadian canola during the first three months of 2011-12 and is about to develop an even bigger appetite, according to industry officials. Canadian canola sales to China were up 127 per cent over the first quarter of last year. In fact, Canada sold more Saskatchewan canola exports will face competition. than half of 2010â&#x20AC;&#x2122;s total shipments of 916,800 tonnes in the first three months of 2011. In November, Viterraâ&#x20AC;&#x2122;s jointly owned 680,000 tonne crush plant opened in the southern Chinese province of Guangxi. â&#x20AC;&#x153;In its simplest form, itâ&#x20AC;&#x2122;s more opportunity for us tomove seed into that marketplace. Obviously thatâ&#x20AC;&#x2122;s a good thing,â&#x20AC;? said Cory McArthur, vice-president of market development with the Canola Council of Canada. The Viterra plant gives Canada a sixth approved delivery destination into China. Those six plants can process 2.8 million tonnes of canola, which is the most Canada has ever shipped there. Chuck Penner, an analyst with Left-Field Commodity Research, doesnâ&#x20AC;&#x2122;t agree there will be an uptick in demand associated with Viterraâ&#x20AC;&#x2122;s grand opening because China already has plenty of crushing capacity. â&#x20AC;&#x153;I donâ&#x20AC;&#x2122;t think there is a bottleneck there right now that needs to be relieved,â&#x20AC;? he said. Penner also said Viterra could fuel its plant with Australian canola. Growers there are expected to harvest 2.6 million tonnes of canola, up from 2.2 million last year. â&#x20AC;&#x153;That will be a bit of a competitor even in the next few months, so we might see [Canadian exports] slow down a bit,â&#x20AC;? he said. But it doesnâ&#x20AC;&#x2122;t look like there will be much of a reduction in sales for the rest of the year based on comments made by the China National Grain and Oils Information Centre, which expects canola imports to hit 1.8 million tonnes, up 41 per cent from the 1.2 million tonnes imported last year. McArthur said that is simply a function of the rapidly expanding Chinese middle class. He adds that India could some day rival China as a major buyer of Canadian canola. â&#x20AC;&#x153;We just need to start creating a little bit of a groundswell of demand and hopefully weâ&#x20AC;&#x2122;ll start to see the numbers go up,â&#x20AC;? he said. â&#x20AC;&#x201C; Western Producer Photo: Canola Council of Canada

8)"5¤4)"11&/*/(*/

Construction of multi-family buildings, like apartments and condominiums and institutional buildings, was the biggest factor in the increase in Saskatchewanâ&#x20AC;&#x2122;s building permit values, the report said. Of the $278 million in building permits issued in October $149.9 million were for residential buildings, a 50.6 per-cent increase over the $99.5 million in permits issued dur-

ing the previous month. Nationally, there were $6.3 billion worth of building permits issued in October, up 11.9 per cent from the previous month on a seasonally adjusted basis. As a comparison, Alberta building permit values in October were down 11.3 per cent from a month earlier.â&#x2014;&#x2020; â&#x20AC;&#x201C; Compiled by WI staff

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WAREHOUSE BAYS WITH COMPOUND SPACE 1650 & 1676 Ebel Road, Weyburn, SK 1680 SF - 2160 SF Bays - Can be combined Lease Rate: $14.00 per sq.ft. Sale Rate: $160.00 per sq.ft. Call: Jaimey Farnese & Ken Kreutzwieser

LANIGAN RESTAURANT FOR SALE 500 Commercial Drive, Lanigan, SK 1.22 acres, fronting Yellowhead Highway Building Size: 3,132 sq.ft. Gross Average Income: $350,000 Sale Price: $350,000 Contact: Eugene Hritzuk

ICR Commercial Real Estate icrsaskatoon.com ME

RETAIL INVESTMENT OPPORTUNITY 928 - 8th Street, Saskatoon, SK Site Size: 10,625 sq.ft Located on Prime 8th Street retail corridor, this property is best suited for owner occupants Sale Price: $1,995,000 Contact: Barry Stuart & Kelly Macsymic

INVESTMENT OPPORTUNITY 2020 Quebec Ave, Saskatoon, SK Land Size: 16,553 sq.ft. Building Size: 8,530 sq.ft. /RFDWHGMXVWRII&LUFOH'ULYH1KLJKWUDIĂ&#x20AC;FDUHD Sale Price: $860,000 Contact: John Kachur & Jayson Elenko

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â&#x20AC;&#x153;Saskatchewanâ&#x20AC;&#x2122;s largest commercial real estate companyâ&#x20AC;?

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B24

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

SPOTLIGHT International mining giants and local canola crushers spin hundreds of jobs into Yorkton

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Photo: Mosaic

Now, the world’s largest potash companies are looking to expand and to add new mines in WESTERN INVESTOR the Yorkton area. Canadian potash giant Mosaic, based in askatchewan has the lowest unem- Esterhazy, Saskatchewan, has started expansion ployment rate of any province in two mine shafts and is constructing a third. and one need look no further than An estimated 250 jobs will need to be filled as Yorkton to understand why. a result of retiring workers, and 250 new jobs The city of nearly 20,000 in east-central will be created due to Mosaic’s expansion. Saskatchewan has already seen hundreds of new jobs generated over the past two years and +PCHFOFSBUPS now a move by giant potash companies could Two other huge potash companies, Agrium lead to thousands more. Inc. and Australia-based BHP Billiton, are This is a city where the recession is some- assessing the development of potash mines thing you see on the national news and think just southwest of Yorkton. it’s science fiction. Retail sales in Yorkton – “In the next five years, permanent jobs from which is about halfway between Saskatoon and canola crushing plants and potash mining may Winnipeg on the Yellowhead Highway – are exceed 3,500 jobs in the region,” said Faisal now $542 million annually and are projected to Anwar, economic development officer for the top half-a-billion dollars by next year. City of Yorkton. Local paycheques come from agriculture, BHP said it would spend about $50 million potash mining – which appears bullet-proof - on the seismic phases and then drill up to 60 manufacturing, tourism and high-paying health holes costing $1 million to $1.5 million each services. The city already has a hockey arena, a during the core drilling operations, which have curling rink, a convention centre and wave pool now started. and Gallagher Centre, one of the top entertain- To meet the need for skilled workers, ment and conference centres in the province. Parkland College, Yorkton campus, is plan-

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WI STAFF

4

Population 19,700 Average house price $125,000 Unemployment rate 4.9 per cent Potential Potash mining expansion

Yorkton could welcome 3,500 new jobs.

ning a 78,000-square-foot expansion, which itself could create up to a dozen full-time jobs. Yet, Yorkton is more than mining. The city has two canola crushing plants, Louis Dreyfus Mitsui Foods (LDM) and Richardson International. LDM Foods started its operation in November 2009, and Richardson International was operational in July 2010. An estimated cost of the two plants is approximately $400 million and they have created more than 150 direct jobs. All the new workers have put pressure on Yorkton’s housing market, which was once ranked as the most affordable small city for homes in Canada. The demand is so intense that, to combat rising prices, Yorkton has applied to the provincial government under its HeadStart on a Home Program to build 35 entry-level homes. In the past three years, more than 160 singlefamily homes were built and the city is accelerating development of additional homes. Two

private land developers have purchased land to the north and east (newly annexed land) of the city, and are developing both residential and commercial property, Anwar said. The city is aiming to have new commercial lots this year or early in 2013. Yorkton Mayor James Wilson warned a recent chamber of commerce meeting, “We are running out of commercial land.” Apart from the development of new facilities by Peavey Mart and Yorkton Co-operatives, the city has also seen expansions by Harvest Meats, Wal-Mart, Best Western Hotel, Ram Industries and Real Canadian Superstore, Anwar added. Meanwhile, the Painted Hand Casino has relocated to a $30 million newly constructed facility on the former West Broadway Mall site in Yorkton. Painted Hand is operated by the Saskatchewan Indian Gaming Authority and has more than 200 slot machines, table games and a theatre with a total seating capacity of 500.◆

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


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WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

REGIONAL ROUNDUP Five-year plan will see about $600 million pumped into Winnipeg’s “SHED” zone

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areas in the city, you create an artificial high on vacancy. That will smooth out over time as absorption occurs,” said John Pearson, a commercial leasing specialist with Shindico Realty Inc. Industrial vacancy rates, meanwhile, are hovering in the 5 per cent to 7 per cent range.

GEOFF KIRBYSON WESTERN INVESTOR

Back then, Winnipeg was one of the fastestgrowing cities in the country – it peaked at No. 3 for population around 1912 – and quickly became known as the “Chicago of the North” due to the seemingly endless flurry of growth and activity. The flurry, of course, eventually fizzled and the Manitoba capital lost its momentum to cities such as Calgary, Edmonton and Ottawa. Sure, it has long been a major centre in Canada, but it lacked the spark of yesteryear. That was then, however, and this is now. There’s a new attitude in Winnipeg but it’s not just lip service – it’s being backed up by investment and action. Much has been made in recent months about the return of the Winnipeg Jets to the city and the pending arrival of IKEA in late 2012. While there’s no questioning their impact and high profile, these two developments are hardly operating in isolation. Wrecking balls are poised to kick-start what could be the most significant overhaul of the downtown in Winnipeg’s history. Dubbed the sports, hospitality and entertainment district, or SHED, this five-year plan to spend upward of $600 million is poised to revitalize an 11-block area that includes the MTS Centre, home of the Jets, the Winnipeg Convention Centre and the Metropolitan and Burton Cummings theatres. Shortly after a pair of old buildings on Portage Avenue across from the MTS Centre are demolished early in the new year, construction will begin on a multi-use facility featuring five storeys of retail and office space, topped by a 14-storey hotel with 154 rooms.

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Photo: Stantec

:

ou can excuse Winnipeggers if they think they’ve travelled back in time to the turn of the 20th century.

Construction will begin this year on a multi-use commercial space, topped by a 14-storey hotel with 154 rooms – the second step in a major downtown revitilization.

Cindy Rodych, vice-president at Stantec, the architect of record for the SHED, said a key part of the development will be the transformation of a surface parking lot in-between the MTS Centre and the convention centre. She said much of the SHED is shaped like a doughnut and this lot is the doughnut hole.

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“Something has to happen on this site. A SHED isn’t and can’t just be a district; it has to be a destination. What has been proposed in the master plan is a destination element for the public, active, vibrant, urban and an entertainment-focused area,” she said. Rodych said the hope is that the area will ultimately resemble the intersection of Dundas and Yonge streets in Toronto. Much of the anticipated success for the SHED is contingent on downtown Winnipeg attracting more workers – say another 1,000

– during the day. Rodych said with Stantec moving between 200 and 300 staff into its new headquarters for the first SHED project, she doesn’t see this as being a problem. This new activity and more is translating into a healthy real estate market for the city, experts say. Retail vacancy rates are currently sitting around 3.5 per cent, after being as high as 5 per cent over the last decade. They’re even lower right now in the power centre sector at 0.7 per cent. Office vacancy rates are on the upswing at 6.9 per cent, a rise from 4 per cent a few years ago, thanks primarily to the construction of Manitoba Hydro’s new downtown office tower a couple of years ago. The addition of the nearly 700,000-square-foot building has caused a bit of a glut in the market. “When you add that much space to the market and pull all their occupancies from other

Despite the relative lack of activity in Winnipeg’s industrial market, there is no question that it’s the dominant force in the city’s commercial real estate sector. There is approximately 70 million square feet of industrial space in Winnipeg compared with just 15 million square feet in each of the retail and office markets. Pearson said a combination of positive factors, including the new air terminal building and the excitement surrounding the hockey team, is attracting investment in the downtown area for restaurants, hotels and offices. The construction of a new stadium at the University of Manitoba for the CFL’s Winnipeg Blue Bombers, which is scheduled to open next spring, has also created a substantial investment opportunity for the continued redevelopment of the area north of Polo Park Shopping Centre. That’s where the old Winnipeg Arena was demolished several years ago and where the antiquated Canad Inns Stadium hosted its last football game a few weeks ago. The football stadium is scheduled to be torn down next spring. Wayne Pratt, managing director of the Winnipeg office of Colliers International, said there is regular sales and leasing activity occurring across all real estate sectors and the outlook for the supply and demand balance is good. He said rents are going to have to increase, however, in order for any construction cranes to appear on the skyline.

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8*//*1&(from B25 â&#x20AC;&#x153;Construction costs are continuing to increase. For new construction to occur, rental rates need to be higher for the numbers to work,â&#x20AC;? he said. Pratt said the biggest driver in the market is â&#x20AC;&#x153;natural demandâ&#x20AC;? because developers resisted the urge to overbuild in Winnipeg in past years. â&#x20AC;&#x153;Thereâ&#x20AC;&#x2122;s an aging process and a functional obsolescence that requires replacing buildings. A number of companies, when they have the demand, are prepared to pay the [higher] rate to get the new facility. It happens selectively in our market, it doesnâ&#x20AC;&#x2122;t happen broadly,â&#x20AC;? he said.

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Pratt said the recent wave of positive news in Winnipeg is reflected in rising immigration and the growing retention of young people, two areas where the city was challenged a decade ago. He said the fact Winnipegâ&#x20AC;&#x2122;s economy has performed well against a backdrop that included a global recession a couple of years ago and growing debt crises in the U.S. and Europe bodes well for future real estate investment. â&#x20AC;&#x153;Money is always looking for a return. Equity markets and global scares make Winnipeg look like not a bad place to invest. Thatâ&#x20AC;&#x2122;s when you get private and public money interested in buying into the Winnipeg market,â&#x20AC;? he said. Ron Hambley, executive vice-president of

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ONTARIO

MANITOBA MARVEL!

www.westerninvestor.com JANUARY 2012 WESTERN INVESTOR

SASKATCHEWAN

B26 Manitoba/Franchises

MANITOBA

Brandon

WINNIPEG 1

â&#x153;Ş

75

17

Kenora

U.S.A.

8JOOJQFH ./ Population 720,000 Retail vacancy rate 3.5 per cent Office vacancy rate 6.9 per cent Detached house price $250,000

the Winnipeg Construction Association, said the past decade has already been the strongest in his industry in the last half-century. Manitoba is coming off its third consecutive year in which the construction sector topped the $2 billion mark. Thatâ&#x20AC;&#x2122;s a far cry from the $14 billion spent in Alberta but itâ&#x20AC;&#x2122;s also a significant increase from the $700 million that was spent in Manitoba in 1999. â&#x20AC;&#x153;These are solid numbers for a small province. Weâ&#x20AC;&#x2122;ve been quietly growing and doing our business in Manitoba. Thereâ&#x20AC;&#x2122;s still lots of work in the hopper,â&#x20AC;? he said.â&#x2014;&#x2020;


Franchises B27

WESTERN INVESTOR JANUARY 2012 www.westerninvestor.com

a franchise lawyer at Toronto-based Dale & Lessmann LLP. The Manitoba Franchises Act is not yet in force, but the release of draft regulations is a signal of the form the law could take. In many ways, the requirements under lenz Coffee is expanding in B.C.â&#x20AC;&#x2122;s highly Manitoba franchise laws look very similar to competitive coffee shop business with those statutes already in place in other prova new store on Alma and 4th Avenue in inces, but certain notable exceptions warrant Vancouver. The new location will be operspecific mention: ated by franchise sisters Tiffanie and Jojo sTHE-ANITOBA&RANCHISES!CTWILLALLOWFOR Sia. electronic delivery of disclosure documents; George Moen, president of Blenz Coffee, sFRANCHISORSWILLBEPERMITTEDTOACCEPTFULLY said, â&#x20AC;&#x153;We think this sister act will be a great refundable deposits of up to 20 per cent of an success, and we wish them all the success in initial franchise fee up to $100,000 and enter their new endeavours. They have everything that we look for in new franchisees. They will into confidentiality agreements with prospective franchisees without triggering the disbe great ambassadors for the brand.â&#x20AC;? closure document delivery requirement; The locationâ&#x20AC;&#x2122;s grand opening included free beverages, food, caricature drawings as well as sIFTHEFRANCHISORUSESANOPERATIONSMANUAL its table of contents must be disclosed; and other fun events. The store will also be hostsTHEREAREVARIOUSREQUIREMENTSFORSTATEing a special open house for local residents. A Blenz Coffee franchise requires an invest- ments to be made where the franchisor is not providing any information in relation ment of from $280,000 to $350,000, dependto certain disclosure items, such as earnings ing on size and type of location. All sites projections. are completely built out, fully fixtured and It is not known when the Manitoba regulainclude the franchise fee and full training. tions will come into effect.

Sisters open new Blenz in Kitsilano

B

Manitoba eyes new franchise regulations

M

anitoba is expected to follow the lead of Alberta, Ontario and two Atlantic provinces in introducing new legislation that would require franchisors to provide a franchise disclosure document to potential franchisees. The disclosure document is the compendium of information about a franchise system that franchisors must deliver to franchisees to assist them in making informed investment decisions, explained Chad Finkelstein,

Suls takes reigns at Mr. Lube

C

anadaâ&#x20AC;&#x2122;s leading quick-lube provider, Delta, B.C.-based Mr. Lube Canada, recently announced that its board of directors has named Stuart Suls as president and CEO. Suls joined Mr. Lube Canada in 2008 and has been managing the company since January 2010 as president and chief operating officer. Suls is credited with developing a â&#x20AC;&#x153;circle of trustâ&#x20AC;? three years ago that vastly improved morale at the 36-year-old company.

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mashburger, a fast-growing â&#x20AC;&#x153;better burgerâ&#x20AC;? franchise concept in the U.S., recently announced it has signed its first two lease agreements in Calgary, bringing its burgers to Canada for the first time. The company expects to open its first Calgary location in 2012 with plans to open 10 to 15 units in the Calgary and Edmonton markets over time. Smashburger is targeting additional growth in Canada and is actively seeking experienced First two Smashburger outlets in multi-unit operators to become franchise part- Canada are both in Calgary. ners across all provinces. This marks the second international commitment for Smashburger, following on the heels of its recent franchise agreements for the Middle East. â&#x20AC;&#x153;We are eager to introduce Smashburgerâ&#x20AC;&#x2122;s better burger offering and our diverse menu of chicken sandwiches, fresh tossed salads and signature sides to residents in Calgary and Edmonton,â&#x20AC;? said Dave Prokupek, chairman and CEO of Smashburger. â&#x20AC;&#x153;Canada is a very attractive market to us and we believe we are bringing a unique, premium dining experience at competitive price points. In addition to our company locations here, we are in active discussions with potential franchise partners to further expand our presence with experienced operators in both Vancouver and Toronto.â&#x20AC;? Smashburger will continue its focus on serving a localized menu for its guests in Calgary with the addition of a locally inspired burger developed specifically for area residents. The regional burger will be unveiled at the time of the opening. Each Smashburger starts with 100 per cent certified Angus beef that is smashed on a 400 F flat grill to sear in the flavour. To further the â&#x20AC;&#x153;better burgerâ&#x20AC;? experience, burgers are served on an artisan bun and topped with a selection of quality produce, cheeses and condiments. The restaurant also serves a selection of alcoholic and non-alcoholic beverages. Developed and owned by private equity firm Consumer Capital Partners, Smashburger operates and develops both corporate and multi-unit franchise territories with 131 restaurants in North America. Smashburger was named to the 2011 Inc. 500 list and is also the recipient of the International Council of Shopping Centers 2011 Hot Retailer Award. Interested franchisees must meet several requirements, including a minimum liquidity of $250,000, five years of multi-unit restaurant management experience as an owner or operator and the ability to obtain a liquor licence. Photo: Consumer Capital Partners

News, views and updates on Canadaâ&#x20AC;&#x2122;s franchise industry

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As Suls explained to the National Post, â&#x20AC;&#x153;With our one-life philosophy, we recognize and respect that you only have one life, and you canâ&#x20AC;&#x2122;t turn off your home life or your work life artificially according to time slots rather than needs. You only have one life but at different times you have different things to do.â&#x20AC;? According to Suls, since the program was introduced, 95 per cent of Mr. Lube Canada franchises say they would take on

another franchise location. Founded in 1976, Mr. Lube Canada has 114 franchise locations across Canada. Franchise costs can range from $900,000 to $1,500,000 including development costs. Alternatively, the total cost for a Mr. Lube franchise can be less if the building is an existing quick-lubestyle establishment retrofitted to Mr. Lube standards. In these cases, the cost can start from around $500,000.â&#x2014;&#x2020; â&#x20AC;&#x201C; Compiled by Kevan O'Brien

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Western Investor January 2012 Section B  

Commercial Real Estate, Franchises and Business Opportunities in Western Canada