www.naicommercial.ca Commercial Real Estate Services, Worldwide.
SELF-STORAGE FACILITIES – FOR SALE Vernon, BC
Penticton, BC
s UNITS PARKING s SF RENTABLE s ACRES n TITLES s %XPANSION $EV 0OTENTIAL s BEDROOM APARTMENT ON SITE s %XISTING MANAGEMENT IN PLACE
s UNITS PARKING s SF RENTABLE s !CRES s #OMMERCIAL #OMPONENT s "EDROOM !PARTMENT ON SITE s %XISTING MANAGEMENT IN PLACE
Commercial/Industrial Land Highway 1 Access and Exposure Flood Hope Road, BC
s Reduced $3,250,000 s Asking $2,850,000 WE ARE YOUR SELF-STORAGE EXPERTS KEN KIERS* or KEN HICK 604-534-7974 1-800-890-9855 kiers@naicommercial.ca
KEN KIERS* 604-534-7974 1-800-890-9855 kiers@naicommercial.ca
KEN KIERS OR KEN HICK * Personal Real Estate Corp.
MERRITT, BC OPPORTUNITIES
MIXED USE DEVELOPMENT NEW WESTMINSTER
ASKING $1,980,000
s SF SITE LOTS s RES RETAIL UNITS s "UILD NEW STOREY MULTI FAMILY RETAIL 3& HOUSE s #ORNER LOT FT FRONTAGE
MULTI-TENANT COMMERCIAL
ASKING $2,350,000 / $175 PSF
s SF RENTABLE s &ENCED PARKING LOT s SF C LOT s %XCELLENT CONDITION s 0RO FORMA CAP s (IGH TRAFlC LOCATION
FOR LEASE 8,459 SQ. FT. SHOWROOM & W/H s $5.50 s.f. plus $2.50 s.f. T.N.
DON ELLIS, RI 604-691-6668 donellis@naicommercial.ca
s Close to Wal-Mart. Only $199K
SPLIT ZONING s !C $EVELOPMENT 3ITE s :ONED 2 HIGH DENSITY M F # SHOP CTR #OMM s Asking $2.95 Mil
3 LIGHT INDUSTRIAL LOTS s ACRES EACH Amazing price $69,900 ea.
11.4 ACRES DEV. LAND ADJACENT TO WAL-MART & HWY 5 s )DEAL FOR HOME IMPROVEMENT STORE SHOPPING CENTRE MOTEL 26 0ARK 3TORAGE s .OW ONLY $2.95 Mil K AC s *UST APPRAISED AT K AC
or 1-800-890-9855 CHRIS LANGHAUG 604-534-7974 langhaug@naicommercial.ca
FOR SALE RV SITE WITH BUSINESS
s %XISTING PROlTABLE ROOM DESTINATION SPA HOTEL LAND FOR EXPANSION s !PPROVED FOR UNITS SINGLE FAMILY CONDOS s "UY RESORT HOTEL WITH EXPANSION OPPORTUNITY OR JUST DEVELOPABLE LAND OR BOTH
39.5 AC RIVERFRONT LAND, SICAMOUS AREA, BC s 3HORT RIVER ACCESS TO 3HUSWAP LAKE s 2ARE OPPORTUNITY TO BUY PRIME RECREATIONAL RURAL HOME PROPERTY s Offers on $898,000 s -OTIVATED SELLER
MICK MATHEUSIK, M Sc. 1-866-717-6989 mick@naicommercial.ca
s ,OCATED IN ,ANGLEY (IGHWAY FRONTAGE s 0OTENTIAL DEALERSHIP OR (OME )MPROVEMENT #ENTRE s # ZONED ACRES SQ FT OF BUILDINGS
DON & ANGIE MACDONALD
s s s s s
14 HST DEATH REVIVES SALES
Vacation buyers back as tax ends, bargains arise Jon van Geel of Cultus Lake Cottages: today’s buyers are seeking “back-to-basics� value, long-term investment
9 BOWING TO MISTER BLAND
Design by mob rule dampens design vitality in Vancouver projects
s 5NIT 4OWNHOUSE 3ITE s !C 2 - & ZONING s 3ERVICES AT STREET s Asking $699,000
HALF ACRE C-3 SERVICE COMMERCIAL LOT
BURNABY
RESORT HOTEL & 1000 ACRES OF DEVELOPMENT LAND 108 MILE, BC
HOT PRICE
$4.29 MAY 2012 Vol. 27/Issue 5
â–˛
s 5P TO !CRES 4OTAL s /WNER WILL SUBDIVIDE TO SUIT s /FFERED AS :ONED AND 3ERVICED s 4RUCK 3TOP )NDUSTRIAL #OMMERCIAL s !CCESS ON TO AND OFF OF (WY s &ULL (IGHWAY &RONTAGE s Asking: Contact LIsting Broker
VANCOUVER • LOWER MAINLAND • VANCOUVER ISLAND SECTION
ALES OFlCE PARTS STORE AND SERVICE BAYS 3 ,ARGE SALES LOTS 3ECURE STORAGE #AN BE SOLD WITH OR WITHOUT BUSINESS 0RIME RE DEVELOPMENT SITE $3,500,000.00
604-534-7974 or 1-800-890-9855
Build on the Power of Our Network. Over 350 Offices Worldwide.
11 U.S. DEALS SHIFT UPSCALE
Higher-end homes now promise best payoff potential in the Sunbelt SPECIAL SECTION • A13
LIFESTYLE PROPERTIES
PUBLICATIONS MAIL AGREEMENT 40069240 RETURN UNDELIVERABLE CANADIAN ADDRESSES TO CIRCULATION DEPARTMENT: 102 EAST 4TH AVENUE, VANCOUVER, B.C. V5T 1G2
WASHINGTON INVESTOR/BUILDERS ALERT! 30 LOT SUBDIVISION IN MT. VERNON First time on market in Mt. Vernon Washington Completed plat of 30 lots - at and ready to build on For sale at 1.8 million (60,000 per lot)
Call Mike (604) 288-7473 For yer see www.copacrealestate.com
A2 Lower Mainland FREESTANDING OFFICE BUILDING FOR SALE
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www.westerninvestor.com MAY 2012WESTERN INVESTOR
COUNTRY PINES MOBILE HOME PARK & GALLAGHER LAKE RESORT
FOR SALE - OFFICE FLOORS IN THE JAMESON HOUSE
FREESTANDING INDUSTRIAL 10.18 ACRE INDUSTRIAL SITE BOWEN ISLAND INVESTMENT TILBURY BUSINESS PARK INVESTMENT OPPORTUNITY
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ROGER LEGGATT MAX ZESSEL
DON DUNCAN* CHRIS DRIVER*
MARK TREPP* BOE IRAVANI
RICK EASTMAN* KEVIN VOLZ*
RANDY SWANT* LEE G HESTER*
DEVELOPMENT SITE MULTI-FAMILY
STRATA UNITS FOR SALE HARBOURSIDE LANDING
6 SEPARATE LEGAL TITLES TOTALLING OVER 116 ACRES
86,000 SF ON 9 ACRES IN PORT KELLS
MANNING PARK RESORT & SKI CENTRE
INVESTMENT/OWNER-USER OPPORTUNITY
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MARK GALLAGHER
BILL HOBBS*
BILL RANDALL*
BURTON VAN ALSTINE* HUDGE PARMAR*
NANAIMO DEVELOPMENT SITE
MULTI-FAMILY DEVELOPMENT SITE
FREESTANDING BUILDING IN MAPLE RIDGE
FOR SALE - 14.376 ACRES ON WOOD LAKE
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PHIL HEARN
FOR SALE - RARE DOWNTOWN PROPERTY
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DAVID CANNING BRAD NEWMAN-BENNETT
CORNER PROPERTY, FREESTANDING BUILDING
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t BDSF 3 [POFE TJUF VOJUT
t -PDBUFE XJUIJO OFX DPNNVOJUZ i5IF 7JMMBHF BU 4VNNFSIJMMw t /FBS IPTQJUBM OFX $PVOUSZ (SPDFS OFX SFUBJM QMB[B t "TLJOH
t #BJMFZ 4USFFU 4RVBNJTI t VOJU PQQPSUVOJUZ t 1SJDF t "DUJWF EFWFMPQNFOU QFSNJU
ERIC WALKER / ADAM FRIZZELL
WOOD LAKE DEVELOPMENT SITE
FOR SALE/LEASE 21755 LOUGHEED HWY
LANDMARK WHISTLER INVESTMENT OPPORTUNITY GARFINKELS NIGHT CLUB
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KYLE WILSON / CRAIG HAZIZA***
BRETT AURA
BILL RANDALL* / NOAH FREEDMAN
FOR SALE - NANAIMO LONG LAKE PLAZA
FREESTANDING BUILDING ON HASTINGS STREET FOR SALE
IDEALLY LOCATED FREESTANDING BUILDING
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KYLE WILSON / CRAIG HAZIZA***
ERIC WALKER / ERNIE CORLETT
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DON DUNCAN* CHRIS DRIVER*
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PETER GIBSON*
KYLE WILSON DAVID POTTINGER
ERNIE CORLETT
MARK GALLAGHER HUDGE PARMAR*
BRETT AURA CRAIG BALLANTYNE*
NIC GREEN PHIL HEARN
FOR SALE - 63 ACRE INDUSTRIAL SITE
86.85 ACRE DEVELOPMENT SITE NOT IN ALR
FOR SALE - 32860 MISSION WAY, MISSION
SINGLE FAMILY SUBDIVISION OPPORTUNITY
DEVELOPMENT SITE MULTIFAMILY
FOR SALE - 14260 KNOX WAY, RICHMOND, BC
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BILL HOBBS*
HUDGE PARMAR* MARK GALLAGHER
BILL RANDALL*
CHRIS ANDERSON
BRETT AURA CRAIG BALLANTYNE*
LANGLEY DEVELOPMENT SITE
GATEWAY TRAVEL CENTRE, KAMLOOPS, BC
FOR SALE - WILLOW CALE ROAD, PRINCE GEORGE
FOR SALE - HARRISON HIGHLANDS, KENT
FOR SALE - 65.53 ACRES CHETWYND
TOWNHOUSE DEVELOPMENT SITE
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t TG Y TJUF JO 1PSU $PRVJUMBN t 1MBOT GPS MFWFM UPXOIPVTFT t -PDBUFE OFBS TDIPPMT QBSLT BOE USBOTJU t "TLJOH
ERNIE CORLETT
50% LEASED t -PDBUFE OFBS )JHIXBZ UI JOUFSDIBOHF t BDSF TJUF JO $BSWPMUI #VTJOFTT 1BSL t $PNNFSDJBM JOEVTUSJBM BOE IPUFM VTFT QFSNJUUFE t "TLJOH
MICHAEL HARDY BRETT AURA
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BART VANSTAALDUINEN* ERIC WALKER
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BILL RANDALL*
Moving with confidence
BILL RANDALL*
Cushman & Wakefield Ltd. Suite 700 - 700 West Georgia Street P.O. Box 10023, Pacific Centre Vancouver, BC V7Y 1A1
T: 604.683.3111 www.cushmanwakefield.com www.vancouverlisting.ca
* Personal Real Estate Corporation ***Craig Haziza is licensed with CAH Realty Inc. and has a contractual relationship with Cushman & Wakefield Ltd. The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, it is not guaranteed by Cushman & Wakefield.
BILL RANDALL*
BRETT AURA CRAIG BALLANTYNE*
$0/5&/54 .": 7"/$067&3 Â… -08&3 ."*/-"/% Â… 7"/$067&3 *4-"/% 4&$5*0/
41&$*"- 4&$5*0/ Â… " LIFESTYLE PROPERTIES
FEATURES 14 0/ 5)& $07&3 #BDL UP CBTJD WBDBUJPO WBMVFT
On the cover Developer Jon van Geel at Cottages at Cultus Lake: end of HST sparks sales revival in B.C.’s recreational market. Photo: Cultus Country Investments
"%7&35*4*/( %*3&$503:
End of HST, lower prices spark uptick in vacation property
9
7BODPVWFS¤T EBODF XJUI .S #MBOE
Pandering to NIMBY guts design and public space innovation
#64*/&44 0110356/*5*&4
8 4&37*$&4 23 4&" 50 4,: 46/4)*/& $0"45 3&(*0/
11 6 4 CPUUPN GFFEFST 5IF XJOEPX JT DMPTJOH
Experts say real profit potential now in higher-end housing Download a PDF of all our Regional Roundups online at www.westerninvestor.com
24–27 7"/$067&3 *4-"/% 3&"- &45"5&
25 $BNQCFMM 3JWFS PWFSDPNFT XIJUF FMFQIBOUT
2–24 -08&3 ."*/-"/% 3&"- &45"5&
Coal, Hydro hiring dims memory of pulp mill, cruise ships
#64*/&44 0110356/*5*&4
.03& 0110356/*5*&4 ™
COLUMNS
… */5&3*03 # $ … "-#&35" … 05)&3 1307*/$&4 … '3"/$)*4&4 ™ 4&& 4&$5*0/ #
6 8&45&3/ 1&341&$5*7& 21 %0/& %&"-4
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
BELLINGHAM WAT E R F R O N T I N V E S T M E N T $33,000,000
3 new office buildings located on the waterfront in Bellingham. Long term triple net leases paid monthly with 3% annual increases. Yearly net income $2,393,947. Must see! For qualified buyers only, please.
For more information, call our office.
RON BENNETT COMMERCIAL REAL ESTATE Ron Bennett
SUTTON GROUP WEST COAST REALTY
(USN Ret.)
CALL
/ Owner - Broker
604-817-7338
Don Munro
ACREAGES
ACREAGES
LANGLEY
889 Lefeuvre Road s !CRES s -USHROOM &ARM s 3HOP #OMPOSTING &ACILITY s 'ROWING "ARN -ULTI 5SE "UILDING
7437 253rd Street s !CRES s SQ FT BEDROOM HOME s UPDATED YEARS AGO s SEPTIC lELD RE DONE YEARS AGO s SEVERAL PADDOCKS SHELTERS AND A HOG FUEL RING s X COVERALL BUILDING s X SHOP WITH VOLT POWER s X BARN WITH STALLS AND TACK ROOM 7455 253rd Street s !CRES s SQ FT BEDROOM ONE STOREY WITH PARTIAL BASEMENT HOME s RENOVATIONS YEARS AGO s SQ FT SHOP WITH LOFT AND TWO SINGLE CAR GARAGE DOORS s SECOND DWELLING IS A SPLIT LEVEL BEDROOM HOME WITH SQ FT UPPER mOOR AND SQ FT BASEMENT
24453 60th Avenue s ,ARGE !CRE PARCEL NORTHERN PORTION DIVIDED FROM ORIGINAL ACRE PARCEL s 0ROPERTY IS CURRENTLY ZONED 32 AND A SECTION IS ZONED 0 '
ACREAGES
COMMERCIAL/INDUSTRIAL
CHILLIWACK
SURREY/LANGLEY BORDER 1 & 2 - 5492 Production Blvd EACH s SQ FT EACH s LARGE OVERHEAD DOOR s AMP PHASE PANEL IN EACH UNIT s OFlCE FRONT WITH UV lLTERED GLASS MEZZANINE WITH LARGE X WINDOWS LARGE SHOP AREA s FORCED AIR GAS FURNACE IN SHOP ELECTRIC HEAT IN OFlCE s WILLING TO SELL 5NITS TOGETHER OR WILL DIVIDE
7640 Nixon Road s !CRES W LOG HOME LARGE SHOP s PRIVATE LOCATION
256th Street & 48th Avenue s !CRES IN A 'REAT LOCATION s "EAUTIFUL CLEARED LEVEL BUILDING SITE s )MAGINE THE LUXURY OF PLANNING YOUR DREAM FROM SCRATCH VS COMPROMISED BY EXISTING DETAIL s :ONED 25
700 Columbia Valley Road s !CRES s 0RIME &ARM ,AND s "UILD YOUR DREAM HOME HERE
CHILLIWACK
COMMERCIAL/INDUSTRIAL SURREY 11151 Bolivar St & 13340 112 Ave $2,750,000 s !CRES ON CORNER s :ONED #() (IGHWAY #OMMERCIAL
7700 240th Street /PEN TO /FFERS s 2ECENTLY 2EMODELLED s !CRE PANHANDLED SHAPED LOT s ,ARGE SQ FT BEDROOM RANCHER s SQ FT "EDROOM "ASEMENT 3UITE s JETTED TUBS UPSTAIRS DOWNSTAIRS
19518 32nd Avenue s !CRES IN #AMPBELL (EIGHTS s $ESIGNATED "USINESS /FlCE 0ARK
6842 202B Avenue & 6868 202B Ave s 0RIME 4OWNHOUSE $EVELOPMENT 3ITE s $ESIGNATED 50! WITH UNDERGROUND OR STRUCTURED PARKING s %XCELLENT 6IEW 0ROPERTY CLOSE TO ALL !MENITIES
✓ GOOD RETURN
botsold@intergate.ca
51140 Ruddock Road .OW s !CRES s 0OTENTIAL FOR ,OTS s 02)#% $2!34)#!,,9 2%$5#%$
27691 Downes Road New Reduced Price s !CRES s 0OTENTIAL "ERRY ,AND s ,ARGE 3HOP "ARN 3TORAGE
48th Avenue & 216th Street /PEN TO /FFERS s !CRES TWO PARCELS s 0OSSIBLE &UTURE 0OTENTIAL
✓ VALUE FOR $
1-360-671-9440 U www.RonBennett.com
LANGLEY 203-20771 Langley Bypass $750,000 s SQ FT COMMERCIAL STRATA s &ULLY LEASED s %XCELLENT )NVESTMENT 0ROPERTY
✓ TENANT COVENANT
44085 Yale Road West s !CRES s #LOSE PROXIMITY TO 4RANS#ANADA (WY s - :ONING SALES MANUFACTURING DISTRIBUTION WAREHOUSING FOOD PROCESSING OUTSIDE STORAGE ALLOWED 44109 Yale Road West s !CRES s (OME AND LARGE SHOP s #LOSE PROXIMITY TO (IGHWAY s - :ONING 8558 Chilliwack Mountain Road s ACRE 6ACANT )NDUSTRIAL ,OT s :ONED - 'ENERAL )NDUSTRIAL - (EAVY )NDUSTRIAL s ,EVEL LOT WITH A COMPACTED GRAVEL BASE s 'REAT ,OCATION 'REAT 0RICE 8495 Aitken Rd, s ACRE )NDUSTRIAL 6ACANT ,OT s :ONED - 3ERVICE )NDUSTRIAL s 0ERFECT FOR SMALL BUSINESSES
✓ UPSIDE
✓ CAREFREE
A4 Lower Mainland FORRES PACIFIC PROPERTY MANAGEMENT YOUR PARTNER FOR SUCCESSFUL REAL ESTATE INVESTING PROPERTY MANAGEMENT AND CONSULTING SERVICES FOR THE LOWER MAINLAND AND FRASER VALLEY
SCOTT ETTLES DAYTIME EVENING
604 576 4407 604 724 1787
www.forrespacific.com settles210@aol.com
www.westerninvestor.com MAY 2012WESTERN INVESTOR
Macdonald Commercial Real Estate Services Ltd.
Prime High-Density Development Property in Abbotsford 1.3 acres located just steps away from Mill Lake and Seven Oaks Mall. Contact 604-308-1475 E-mail vasacanada@gmail.com
BOB SCRAGG 604.290.2906 | bscragg@macrealty.com FOR SALE: INDUSTRIAL STRATA UNITS
th Ave, FOR SALE / 1275 LEASEW.: 75 OFFICE BUIDLING Vancouver
3075 Willow, Vancouver
‡ INDUSTRIAL STRATA UNITS, SURREY:
‡ OFFICE
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BUILDING, BURNABY:
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FOR SALE: 94 UNIT HIRISE APARTMENT BUILDING
FOR SALE: FREESTANDING BUILDING
METRO VANCOUVER
HIGH DENSITY DEVELOPMENT SITE
;DG H6A:
N To Hwy #1 Future retail corner
Future Conference Centre & Hotel
Langley Events Centre
‡ MULTI-FAMILY, PRINCE GEORGE: ‡ /RFDWHG LQ 'RZQWRZQ 3ULQFH *HRUJH QHDU WUDQVLW ‡ XQLWV %FKOU %GUP %GUP ‡ 5HFHQWO\ ILUH GDPDJHG YDFDWHG ,QVXUDQFH PRQH\ DYDLODEOH IRU EX\HU WR UHSDLU RU VHOOHU ZLOO GHOLYHU WKH EOGJ UHDG\ IRU RFFXSDQF\ ‡
The "Maples" is strategically located in the heart of Langley on the rapidly growing 200th Street corridor with bus. parks/commercial dev. directly across from the Langley Events Centre, it offers major highway #1 connections with two bridges to Vancouver. The total development site has the potential of approx. 32 acres of land designated in the OCP for High Density Residential/Commercial featuring a "High Street" with shops, services, and multi-family housing including hi-rises.
For More Information: Contact:
DEAN LAPOINTE at 604-617-8889
or email:
deanlapointevancouver@gmail.com
FOR SALE: 102 ACRES PRINCE GEORGE
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GARY WEBB 604.714.4780 | www.rgarywebb.com FOR SALE : INVESTMENT OPPORTUNITY
FOR SALE: RESTAURANT LAND & BUILDING
www.mapleslangley.com Westburn Realty
FOR SALE
S
D L O
. ASED BE LE DETAILS Y A M L FOR CAL
81,260 sq.ft. R&D
RARE GOLF COURSE OPPORTUNITY FOR SALE | ERIC POON & KELVIN LUK
1521 WEST 4TH AVE
BUILDING AT UBC
Corner lot of 5,650 sq ft. Cash business included. $2,475,000 * Stage 2 Completed * Call Larry Traverence 604-787-7654
3800 Wesbrook Mall provides an excellent environment that will support and enhance the intellectual and social development goals of companies involved in R&D. Laboratories, ofďŹ ces, teaching, training, and conference facilities, in support of research and development in a number of key areas. OFFERS
Kris Pope 604-318-5226 SEEKING AN INVESTMENT OPPORTUNITY, either multi tenant ofďŹ ce or business park with good return and or upside up to $25,000,000. Contact Kris Pope 604-318-5226
WANTED Investment property $500,000 to $1.500,000 with close to a 6+ cap, retail only, strata ofďŹ ce possible, Greater Vancouver or Kelowna, quick close for a good property. Call Kris Pope 604-318-5226
‡ 4856 48 TH AVE, LADNER: ‡ 180 MAIN ST, VANCOUVER: ‡ %XLOGLQJ VL]H VT IW ‡ 6HDWV LQGRRU RXWGRRU SDWLR ‡ /RW VL]H VT IW ‡ /LTXRU /LFHQVH ‡ VHFXUHG X J SDUNLQJ VWDOOV ‡ ,QFOXGHV IL[WXUHV HTXLSPHQW ‡ %& *RYHUQPHQW 7HQDQW ‡ & &RPPHUFLDO ‡ 1HW ,QFRPH ‡ $VNLQJ 3ULFH ‡ $VNLQJ 3ULFH GARY WEBB _ JZHEE#PDFUHDOW\ FRP
Larry Traverence 604-787-7654 FOR LEASE 725 Eaton Way Approx 9,200 sq ft warehouse with approx 3,800 sq ft ofďŹ ce space. Attractive rates. Larry or Kris 604-689-8226
Dexter Associates Realty Commercial Real Estate, Your Trusted Advisors “We are focused on achieving the results YOU want.�
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ERIC POON / KELVIN LUK FOR SALE: KITSILANO INVESTMENT | ERIC POON
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FOR SALE: KELOWNA GOLF RANGE - Land, building & business | GARY KHAN ‡ /DQG EXLOGLQJ EXVLQHVV IRU VDOH $SSUR[ DFUHV LQ $/5 ‡ /LVW 3ULFH 5('8&(' GARY KHAN
FOR SALE: LITTLE MOUNTAIN CHILLIWACK - 59 Lot Subdivision | GARY KHAN ‡ ORW VXEGLYLVLRQ /LWWOH 0RXQWDLQ &KLOOLZDFN PRICE REDUCED ‡ /LVW 3ULFH GARY
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SALES . LEASING . STRATA MANAGEMENT . PROPERTY MANAGEMENT
www.macdonaldcommercial.com Vancouver 604.736.5611 Fraser Valley 604.590.2444 commercial@macrealty.com Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.
Lower Mainland A5
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
APARTMENT BUILDING SPECIALIST WEST SIDE
BURNABY
NEW WESTMINSTER
8 Units/Cambie Corridor Completely Renovated Gross Income $122,892
22 Units – Near SFU 2 Penthouses with Views Gross Income $260,496
28 Units – Moody Park Fully occupied – great tenants Gross Income $ 238,408
NEW WESTMINSTER
PORT ALBERNI
WHITE ROCK
21 Unit Apartment Building Completely Renovated, Views Gross Income $235,885
43 Units/2 Buildings Close to amenities Gross Income $222,893
57 Units – Near Beach Well maintained, owner operated Gross Income $593,440
Plus many other listings! Please visit our website at www.billgooldrealty.com for more information.
604.263.2823
LOT FOR SALE
RETAIL SALE/LEASE
INDUSTRIAL SALE
906 Main Street, Vancouver 4,314 sq ft on two levels )JHI FYQPTVSF DPSOFS JO USFOEZ MPDBUJPO 3FTUPSFE IFSJUBHF CVJMEJOH t )JHI DFJMJOHT (BT t QBSLJOH TUBMMT
1523 East Pender Street, Vancouver 3,653 sq ft warehouse/office building PO Y MPU t 'VMMZ GJOJTIFE DFJMJOH IFJHIU t (SBEF MFWFM MPBEJOH Enclosed secured parking
James Bayley, Meghan Kennedy
Mitch Ellis, Ryan Saunders
Re du ce d
STRATA OFFICE SALE/LEASE
Pr ice
44 %
SO LD
STRATA OFFICE SALE/LEASE
3410 Lougheed Highway, Vancouver 552–6,696 sq ft Attractive pricing Quality concrete office construction Close to SkyTrain/Broadway Tech
205 - 1742 West 2nd Avenue, Vancouver 1,039 sq ft fully improved office space 0QFO BSFB t ,JUDIFOFUUF t )JHI DFJMJOHT )BSEXPPE GMPPST t 0QFOJOH XJOEPXT Private storage
Anthony Lux, Don Mussenden
Jason Marriott
James Bayley, Tom Bakker, Meghan Kennedy
INVESTMENT STRATA
INVESTMENT STRATA
INDUSTRIAL SALE
INDUSTRIAL SALE
INDUSTRIAL SALE/LEASE
1779–1799 Kingsway, Vancouver 3,005 sq ft ground floor strata )JHI FYQosure corner location "QQSPY DBQ SBUF Fully leased until Dec 31, 2015
5850–5852 Fraser Street, Vancouver 1,380 sq ft 2 fully leased strata units Long term stable tenant $599,000
101 - 8988 Fraserton Court, Burnaby TR GU GMFY TUSBUB VOJU Eagle Landing Business Park Rear grade level loading QIBTF QPXFS t QBSLJOH TUBMMT
226 - 17 Fawcett Road, Coquitlam 2,920 sq ft unit Tilt-up concrete construction Air-conditioned offices Grade loading
239–241 E. 1st Street, North Vancouver Prime Lower Lonsdale location 9,600 sq ft building on 6,000 sq ft lot Lower 4,800 sq ft vacant for sale and/or lease
Conor Finucane
Conor Finucane
Steve Caldwell, Phil Gibbons
Steve Caldwell, Phil Gibbons
Rand Thomson
STRATA UNIT FOR SALE
DEVELOPMENT SITE
INDUSTRIAL SALE
INDUSTRIAL SALE
INVESTMENT OPPORTUNITY
King
1186 Granville Street, Vancouver 3,000 sq ft development site '43 t 1BSLJOH JODPNF )JHI FYQPTVSF MPDBUJPO
George Blvd
21320 Westminster Hwy, Richmond 3,005 sq ft fully leased industrial strata unit (SBEF MPBEJOH t "TTJHOFE QBSLJOH "QQSPYJNBUFMZ DMFBS DFJMJOH IFJHIU -FBTF FYQJSFT 'FCSVBSZ
13061 King George Boulevard, Surrey 5.34 acre site Residential/Industrial per OCP Between Scott Road & Gateway stations NEW PRICE!
203 - 9875 192nd Street, Surrey 1,760 sq ft 21’ high ceilings &YDFMMFOU BDDFTT UP )JHIXBZ )FBWZ BNQT QPXFS
54370 Bridal Falls Road, Chilliwack 14.165 acres Development potential &YQPTVSF BOE BDDFTT UP )JHIXBZ QIBTF QPXFS t $PWFSFE TUPSBHF BSFBT
904 & 908–990 Victoria St., Kamloops BDSFT t $ [POFE Two buildings on 9 lots UFOBOUT t 1SJNF SFUBJM FYQPTVSF Asking $1,995,000
Casey Bell, Anthony Lux
Rand Thomson, Sebastian Espinosa
Sebastian Espinosa
Rand Thomson, Sebastian Espinosa
Steve Caldwell, Murray Wills
For more information on our available properties and range of commercial real estate services please contact us today. Tel: (604) 684 7117
www.dtzvancouver.com
Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent veriďŹ cation. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 05/2012.
A6 Lower Mainland
www.westerninvestor.com MAY 2012WESTERN INVESTOR
"MCFSUB PJM XJMM CF GMPXJOH FBTU OPU XFTU .C. protesters and politicians against any Northern Gateway pipeline carrying oil from Alberta to the West Coast – and on tankers to Asia – can put down their signs and megaphones. Those who see the Northern Gateway as the foundation of sustainable prosperity in the troubled northwest – the MacDonald Laurier Institute says it would generate $48 billion in labour income alone – can start to look elsewhere. This is because the odds of northern B.C. ever becoming an international hub for the global oil economy now appear as doomed as an oil-soaked seagull. From all accounts – and despite the expensive, protester-hijacked hearings that will caravan across two provinces for the next two years – Alberta oil and the jobs and investment it represents will be owing east, not west. TransCanada Corp. has already presented a detailed counter proposal that would see a $5.6 billion pipeline linking the oilsands to reďŹ neries in Ontario and Quebec. Shell and Suncor, the biggest players in the oilsands, are also talking about
#
retrieving their own oil from Alberta and sending it via pipeline to eastern markets. Such plans will likely ďŹ nd wide political and public support in vote-rich, have-not central Canada, where new jobs are in short supply. An eastern route is also winning political credence in Alberta. Recently Danielle Smith, leader of the Alberta Wildrose Alliance and perhaps Alberta’s premier by the time this is published, voiced her support for such a plan. Despite the greater distance to Asia, it is so much less expensive to move oil by seagoing tankers than by pipe that the plan could be economically feasible to eager customers in China and Japan. It is slightly more expensive to tanker oil from the east, but any West Coast route would face the prospects of costly disruptions, as some native groups have threatened. Canada already has pipeline infrastructure running from Alberta to Ontario, compared with B.C.’s all-new Northern Gateway. The TransCanada plan would involve building just 375 kilometres of new pipe from Hardisty, Alberta, to the mainline pipe hub at Burstall, Saskatchewan, and then through
8&45&3/ 1&341&$5*7&
N O RT H VA N C O U V E R FOR LEASE
PRIME CONDO SITE 4.4 - 8.8 acres with all services. Great location in Surrey with views. Surrey/Langley border at Willowbrook. Walk to shopping, amenities and transit.
1445 Main @ Main and Mt. Hwy Huge trafďŹ c count! Retail Showroom - 2400 main oor - 600 up plus original bank safe! A/C, dock level loading, Dble wide sliders, 12 parking fenced yd. At the foot of Iron Workers Bridge. $15.00’ plus NNN --------------------------------------------------------------------OfďŹ ce space attached to warehouse Lynnmour Approx 3000’ includes ofďŹ ces. Ground level loading, overhead doors! Foot of Iron Workers Bridge. $9.50’ plus NNN
for info package
LD O S
EW N
Western Investor looks at bargain-priced West Coast waterfront real estate. We proďŹ le the surprising potential in the U.S. commercial real estate market and check into Canada’s suddenly sexy hotel and motel scene. Our regional reporters ďŹ le from Belle Plaine, Brandon, the Cariboo and Grande Prairie.
ADVERTISING DEADLINE JUNE 2012 issue: May 14, 2012
FRANK O’BRIEN EDITOR wieditor@biv.com
G reat Investment with Secure Billion Dollar Tenant Free standing, 2400 sq. ft., 11 year old Mac’s Convenience Store. Corner location at the entrance to Maple Ridge’s Business District. s ./) OF 0! s ,EASE YEARS PLUS THREE YEAR OPTIONS s 0OTENTIAL YEARS REMAINING LEASE s 4ENANT HAS OVER STORES INTERNATIONALLY
www.mandergroup.com 604-657-4508
EastClaytonProject@yahoo.com
353 WATER ST.
/&95 .0/5)
DIANA MANDER
Email:
LD O S
to Quebec and Ontario’s existing reďŹ neries, which would be retroďŹ tted to process Alberta’s bitumen rather than foreign oil. The reďŹ ned Alberta oil would ship from deepwater tanker ports at Saint John, New Brunswick, and Montreal, which safely handle thousands of tankers every year. In any event, years from now when the B.C. northwest is still struggling economically and aboriginal unemployment remains at 35 per cent, as it is today, please spare us from lofty government job-creation commissions and the platitudes of economic vision strategies. The strategy is right in front of us, right now, and it is quickly seeping away.
Publisher Cheryl Carter Editor Frank O’Brien Contributing Writers Susan M. Boyce, Kyle Green Dave Husdal, Geoff Kirbyson, Glen Korstrom, Joel McKay, Peter Mitham, Kevan O’Brien Copy Editor Noa Glouberman Production Manager Rob Benac Production Natalie Reynolds, Tanya Van Advertising Sales Christine Campbell, Gary Takahashi, David Witherspoon Advertising Sales Coordinator Angela Foster Accounts Receivable Yvonne Posch Circulation Veera Irani, Newsstands Globe Distribution Services Printed in Canada at Kodiak. Western Investor is published monthly by BIV Media Limited Partnership VANCOUVER – HEAD OFFICE: 102 East 4th Avenue, Vancouver, B.C. V5T 1G2 Subscriptions and Advertising Sales Tel: 604669-8500 Fax: 604-669-2154 Canada/U.S. tollfree: 1-800-661-6988. Canadian publications mail product sales agreement #40069240, GST #105655567. Copyright 2002. While every effort is made to ensure the accuracy of articles and advertising that appear in each edition of Western Investor, the publisher may not be held responsible for any errors or omissions that may from time to time occur. No part of this publication may be quoted or reprinted in any medium without the express written permission of BIV Media Limited Partnership.
-UST BE 3/,$ Asking $1,600,000.
Gerrit Focker Royal PaciďŹ c Riverside Realty 604.270.8831 LD O S
620 SEYMOUR ST.
LD O S
LD O S
678 E. HASTINGS ST.
21 WATER ST. - THE PACKING HOUSE • SIX STOREY PLUS LOWER LEVEL, COMMERCIAL OFFICE AND RETAIL BUILDING • PROMINENT CORNER GASTOWN LOCATION AT WATER AND CARRALL ST. • CHARACTER INVESTMENT PROPERTY IN GASTOWN • LOT SIZE: 13,647 SF (APPROX) • ZONING: HA - 2 LIST PRICE: PLEASE CONTACT THE EXCLUSIVE LISTING AGENT
350 & 356 CARRALL ST. • EXCELLENT GASTOWN RETAIL UNIT • PRIME OWNER OCCUPIER/INVESTMENT OPPORTUNITY • NEWLY RE-DEVELOPED MIXED-USE BUILDING • LARGE RETAIL DISPLAY WINDOWS • UNIT SIZE: 1,808.34 SF (APPROX., AS PER STRATA PLAN) • ZONING: HA - 2 LIST PRICE: PLEASE CONTACT THE LISTING AGENT
EW N
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611 POWELL ST.
PARIS ANNEX COMMERCIAL RETAIL/OFFICE UNITS • GOOD CEILING HEIGHTS • LARGE RETAIL DISPLAY WINDOWS • NEWLY REͳDEVELOPED CONCRETE CONSTRUCTION • UNIT SIZE: FROM 925.70 SF TO 1,111.91 SF (APPROX., AS PER STRATA PLAN) • ZONING: DD (DOWNTOWN DISTRICT)
LIST PRICE:
EW N
57 E. CORDOVA Main level live/work unit
FROM $389,000
604 – 55 E CORDOVA ST. • CORNER LIVE/WORK PENTHOUSE STRATA • FLOOR TO CEILING WINDOWS W/ EXCELLENT VIEWS • PARKING AVAILABLE • LARGE PATIO WITH THE POTENTIAL OF HAVING A ROOFTOP DECK • UNIT SIZE: 1,996 SQ.FT ΈAPPROX., AS PER STRATA PLANΉ •ZONING:HA Íł2 ΈGASTOWN HISTORIC AREAΉ LIST PRICE: $1,990,000
ROBERT THAM s MARC SAUL s Corbel Commercial Inc. www.corbelcommercial.com U Tel: 604.609.0882 U Fax: 604.609.0886 U Info@corbelcommercial.com E. & O. E.: All information contained herein is from sources we deem reliable, and we have no reason to doubt its accuracy; however, no guarantee or responsibility is assumed thereof, and it shall not form any part of future contracts. Properties are submitted subject to errors and omissions and all information should be carefully veriďŹ ed. All measurements quoted herein are approximate.
Lower Mainland A7
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
For more information visit our website
Vancouver Office 604 687 7331 s
www.avisonyoung.com
s
FEATURED LISTING FOR SALE – 227 Stratifi ed Rental Units s 0RINCETON $R 4HOMPSON -ANITOBA s 4HOMPSON S PREMIER STRATA RENTAL APARTMENTS s 4WO STOREY CONCRETE BUILDINGS s #OMPLETE RENOVATIONS IN EVERY SUITE s !SSUMABLE l NANCING
FOR SALE – Dollarton Business Park - 197 Forester Street, North Vancouver s "RAND NEW STOREY STRATA OFl CE m EX INDUSTRIAL BUILDING s ,OCATED IN .ORTH 6ANCOUVERgS FASTEST GROWING COMMERCIAL HUB s 5NIT SIZES FROM APPROX SF SF FULL m OOR
%PVHMBT - .D.VSSBZ $ISJT 8JFTFS 5FSSZ 5IJFT *BO 8IJUDIFMP SOLD – 7451 Shaw Avenue, Chilliwack
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FOR LEASE – Capilano Business Park, N. Vancouver
s RENTAL UNITS s 7ALKING DISTANCE TO #OTTONWOOD -ALL s #AP 2ATE
s &LEX /Fl CE INDUSTRIAL UNITS FROM n SF s .ORTH 6ANCOUVER S 0REMIER "USINESS 0ARK
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FOR SALE – Abbotsford Industrial Land
PRE-LEASING – NorthWoods Business Park, N. Vancouver
s 2ARE SERVICED LAND s :ONED )NDUSTRIAL s AND ACRE SITES s ,OCATED AT -T ,EHMAN 2D "ROOKSIDE !VE s /PTIONAL BUILD TO SUIT SALE OR LEASE
s "UILDINGS n !VAILABLE 3EPTEMBER s &LEX OFl CE INDUSTRIAL UNITS FROM SF
.JDIBFM 'BSSFMM +PIO &BLJO FOR LEASE – 11125 124th Street, Surrey s TO SF OF SERVICE INDUSTRIAL SPACE s %XCELLENT PARKING AND ACCESS TO 3KY4RAIN s %XPOSURE TO +ING 'EORGE "OULEVARD
FOR SALE – Ridge Meadows Inn & Trailer Park 20963 Lougheed Highway, Maple Ridge s RESIDENTIAL UNITS s 3TRONG OCCUPANCY PROVIDES SECURE CASH m OW TO INVESTORS s ACRE SITE DESIGNATED 5RBAN 2ESIDENTIAL IN /#0
3PC (SFFS .BSL )BOOBI FOR SALE – Village Square, Bowen Island s /PPORTUNITY TO ACQUIRE THE MARQUEE COMMERCIAL PROPERTY s SF OF COMMERCIAL SPACE AND RESIDENTIAL RENTAL UNITS s #ORNER LOCATION WITH HIGH EXPOSURE TO FERRY TRAFl C s (IGH OCCUPANCY AND ATTRACTIVE CASH m OW YIELD
s ACRES OF INDUSTRIAL ZONED LAND s %XCELLENT SIGNALLED ACCESS TO NEW 3OUTH &RASER 0ERIMETER 2OAD AND +ING 'EORGE "LVD • BDSF
+PIO &BLJO .JDIBFM 'BSSFMM #BM "UXBM FOR SALE – 9781 186th Street, Surrey s ACRES IN PRIME 0ORT +ELLS LOCATION s ,IGHT )NDUSTRIAL ZONING s /UTSIDE STORAGE PERMITTED s .JDIBFM 'BSSFMM +PIO &BLJO
FOR SALE – 9532 194A Street, Surrey E D IC CE PRDU RE
.BSL )BOOBI 3PC (SFFS FOR SALE – 1102 Commercial Drive, Vancouver s 2ARE OPPORTUNITY TO SECURE A CORNER LOCATION s %NTIRE PROPERTY LEASED TO A SINGLE TENANT WITH TRIPLE NET LEASE s "ELOW MARKET RENTS WITH OPPORTUNITY TO REPOSITION THE 0ROPERTY s ,EASE HAS h$EMOLITION 3UBSTANTIAL 2ENOVATIONv CLAUSE
.BSL )BOOBI 3PC (SFFS FOR SALE – Washington Apartments – Courtenay, BC s UNITS s !TTRACTIVE ASSUMABLE #-(# &INANCING s /PPORTUNITY TO BUILD ADDITIONAL RENTAL UNITS ON THE SITE
s ACRE LOT WITH SF BUILDING s TON CRANE HEAVY POWER s
3PC (SFFS $ISJT 8JFTFS
+PIO &BLJO .JDIBFM 'BSSFMM
FOR SALE – Fraser Valley Industrial
FOR LEASE – Merchant Square, 1 Eighth St (@ Columbia St), New Westminster s 0REMIER SF #LASS ! OFl CE SPACE MID COMPLETION s ,%%$ 'OLD ENERGY EFl CIENT OFl CE BLDG W LARGE m EXIBLE m OOR PLATES s !DJACENT .EW 7ESTMINSTER 3KY4RAIN STATION %BSSFMM s !BUNDANT PARKING AMENITIES SPECTACULAR VIEWS )VSTU
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FOR SALE – 13056 114th Avenue, Surrey
R T DE AC N TR UN CO
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FOR SALE – 701 East Cordova Street, Vancouver
FOR LEASE – CANADA WAY BUSINESS PARK s 0ROMINENT ANCHOR TENANT OPPORTUNITY AVAILABLE SKY SIGNAGE s ,ARGE m EXIBLE m OOR PLATES n UNITS FROM n SF s !BUNDANT AMENITIES INCLUDING ON SITE PROPERTY MANAGEMENT SECURITY HIGH RATIO PARKING FOOD SERVICES s 3HUTTLE SERVICE TO 3KY4RAIN STATION
s 3& 7AREHOUSE -EZZANINE 3TORAGE s !CRE 3ITE s 3ITE #OVERAGE s %XCELLENT 3IGNAGE /PPORTUNITIES s +PIO -FDLZ 4USVBO 4BEEMFS
%BSSFMM )VSTU .BUU $SBJH
FOR SALE/LEASE – 1455-1475 East Georgia Street, Vancouver s n SF OF /Fl CE 7AREHOUSE AVAILABLE CE ED I s ) ,IGHT )NDUSTRIAL ZONING C PRDU s $OCK AND 'RADE LOADING E R s +PIO -FDLZ 4USVBO 4BEEMFS
FOR SALE – 144 Lonsdale Avenue
FOR SALE – 2405 – 2427 Crescent Way, Abbotsford
FOR SALE – Investment Development Opportunity Pantec Mini Storage - Bellingham, Washington
s !CRES s 0ERMITS IN PLACE FOR A UNIT -ULTI &AMILY DEVELOPMENT s !BILITY TO BUILD A SIX STOREY UNIT DEVELOPMENT s .EXT TO NEW - !BBOTSFORD #OLLEGIATE 3CHOOL s
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Avison Young Commercial Real Estate (B.C.) Inc.
A8 Lower Mainland/Services
ROARON
COMMERCIAL MORTGAGES
Full Building Repairs, Upgrades & Remediation
BUSINESS LOANS Acquisitions, Expansion, Equipment & A/R
604-552-4392 www.paramountямБnancial.biz Marking our 15th YEAR in business !
" ,
CONSTRUCTION project construction & infrastructure maintenance
ALSO: Industrial, Multi-Residential & Construction
LEAKY CONDO FINANCING
www.westerninvestor.com MAY 2012WESTERN INVESTOR
FOR ALL TYPES OF COMMERCIAL PROPERTY:
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s SUBDIVISION CONSTRUCTION s BUILDING ENVELOPE s CONCRETE ASPHALT SEALING s STRUCTURAL REPAIR s ROOlNG WATERPROOlNG s PARKING LOTS PARKADES
>├Г├М├К ┬л┬л├А┬Ь├Ы>┬П├КU├К*├Х├АV┬Е>├Гi├К┬Ь├А├К,iw┬Ш>┬ШVi Mortgage Alliance Commercial
Call Now: 604.888.7818 or Email: roger@roaron.com
Mike Lee
www.roaron.com
604-565-6370
1-877-848-6370
mlee@macommercialcanada.com
CHILLIWACK AUTO CENTRE A-1 maintained property, good income. Only $1,350,000
HIGH END HOTELS $25 to $80 mil.
CO M M E R C I A L S T R I P M A L L S $5 to $12 mil.
MOTELS Surrey & Langley, $2.55 to $10 mil.
LANGLEY RES. DEV. LANDS Some short-term hold; others ready
RAY LEWIS West Coast Realty LANGLEY
604-812-9733
For all your real estate ямБnancing needs
MORTGAGE FINANCING www.peoplestrust.com BRITISH COLUMBIA REGION
Brian D. Kennedy 604-331-2211
BRITISH COLUMBIA REGION
Jonathan P. Wong 604-331-2218
PRAIRIE REGION
Dennis K. Aitken 403-205-8203
PRAIRIE REGION
Daniel Stewart 403-205-8202
U├КKELOWNA├К├И{├К├Х┬Ш┬И├М├К ┬Ь┬Ш`┬Ь├Й├Аi├М>┬И┬П┬░├К├К
┬Ь├Аi├К>├Аi>┬░├К┬╝L├Х┬И┬П`├К├М┬Ь├К├Г├Х┬И├М┬╜├К$11,750,000
FINANCING AND TRADES AVAILABLE
U├КQUESNEL├К┬г┬░├З├К V├Аi]├К├У├К┬Ш>├М┬И┬Ь┬Ш>┬П├Г]├К $144,500├К ]├К$2.1 M]├К┬г├д]├д├д├д├К├Гv├К├К ├К├М┬Ь├К>``┬░ U├КPRINCE GEORGE├Ж├К┬г┬гn├К>V├Аi]{├К ├К i├М├Аi├Г├К }├А>├Ыi┬П]├К┬н>L├Х├М├Г├К>┬И├А┬л┬Ь├А├М┬о├К$4,250,000
U.S. PORTFOLIO
U├КGRAND PRAIRIE├Ж├К┬У┬И├Эi`├К"├Й,├К├К $130,000 ├Г├М>L┬И┬П┬И├вi`├К ]├К┬Щ┬п├КV>┬л├К
PHOENIX, AZ
U PRINCE GEORGE├Ж├К┬г├д├И├О├К ├Аi>├М├К-├М├Аii├М]├К x├К>V├Аi├Г]├К┬г├З]x├д├д├К├Г┬░v┬░├КL├Х┬И┬П`┬И┬Ш}]├К$2.8 M├К┬З├К f┬г├З├У]x├д├д├К i├М├К ┬ШV┬Ь┬Уi┬░├К i├Г├М├К>``├Аi├Г├Г├К┬И┬Ш├К ,├К*>├А┬О┬░ U├КPRINCE GEORGE├Ж├К├Уx┬г├К├Х┬Ш┬И├М├Г├К]├К ┬г├О├К>V├Аi]├К$12,500,000
. 25 FULLY RENOVATED &
DEVELOPMENTS
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PETER SEED 604-691-6608 peter@naicommercial.ca
PENTICTON A LUXURY MOUNTAIN TOP HOME ON 2 ACRES BEAUTIFUL VIEWS OF SKAHA & OKANAGAN LAKE $2M
LEASED PROPERTIES
. PROFESSIONALLY MANAGED . REBOUNDING MARKET . 8% NET RETURN
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U├КRAMADA VALEMOUNT├К├З├д├К├А┬Ь┬Ь┬У├Г]├К>┬П┬П├К >┬Уi┬Ш┬И├М┬Иi├Г]├К┬Шi├Ь├К┬л├А┬Ь┬лi├А├М├Ю]├К├Г┬Е>├Аi├К├Г>┬Пi]├К├К ┬Щ┬п├К >┬л├К,>├Мi
RESIDENTIAL
LAKEFRONT PENTHOUSE WITH MOUNTAIN VIEWS AVAILABLE IMMEDIATELY $399,000 LARGE LAKEVIEW PENTHOUSE AMAZING VIEWS OF OKANAGAN LAKE & AVAILABLE IMMEDIATELY $1.35M
VANCOUVER TELUS GARDEN PENTHOUSE $3.45M
COMMERCIAL
16 ACRES + LARGE HOME $2.1M
PORT COQUITLAM 4 LOTS APPROVED FOR SUBDIVISION $1.4M
COMOX EXCELLENT CONDO DEVELOPMENT SITE $3M
LANGLEY
OSOYOOS
46 PRIVATE ACRES (2 TITLES) $6.25M
10 INCOME PRODUCING LAKEFRONT RV LOTS $1.25M
FLEETWOOD 4 LARGE LOT SUBDIVISON $1.6M
LANGFORD CONDO SITE APPROVED FOR UP TO 200+ UNITS $4.4M
www.monark.com
A9
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
FEATURE Pandering to NIMBY trims pizzazz – and innovative public space – from new Vancouver projects
igorous protests over major Vancouver development proposals such as Paragon Gaming Corp.’s mega-casino attached to BC Place are proof that the city’s way of soliciting community input is broken, say critics.
7
Architects, designers and real estate consultants believe more consultation is needed earlier in the process to provide clarity and reduce the chance the public will be surprised with projects that some call “spaceshipsâ€? that land without warning. “It’s not developers that are the enemy. The enemy is the flawed process that the city uses for rezoning large development sites,â€? architectural designer Annabel Vaughan told city council in March at a public hearing into Rize Alliance Properties Ltd.’s plan to build a 19-storey tower at the corner of East Broadway and Kingsway Avenue. “The current public process brings out the worst in everyone; developers and architects design projects in isolation and then land spaceships into neighbourhoods,â€? said Vaughan, who is a principal at publicLAB RESEARCH + DESIGN and a sessional instructor at the BC Institute of Technology. The city consulted residents in the leadup to November 2010, when council passed the Mount Pleasant Community Plan (MPCP) and designated three sites in Mount Pleasant as ideal for towers: •the IGA property on Main Street and East 14th Avenue; •Kingsgate Mall; and •the Rize Alliance site across Kingsway Avenue from Kingsgate Mall. The problem, say members of the Residents Association of Mount Pleasant (RAMP), which opposed Rize’s plan to build the 19-sto-
.BSJOF (BUFXBZ
PCI Group faced community protests two years ago when it revealed designs for its Marine Gateway project, which resembled stacked containers in an innovative and controversial design. PCI altered its designs to a more standard podium and towers. They proved so popular that 11,000 people expressed interest with marketer Rennie Marketing Systems before the homes went on sale March 17, and the towers’ 415 units sold in four hours. The new design is “not bland but it is not wow either. It is normal,� said Vancouver real-
Photo: Brian Lau
WESTERN INVESTOR
rey tower on the site, is that the city never specified in the community plan how tall a tower would be built on the Rize site. Rize originally designed a 26-storey tower but has since reduced the height, though not enough for RAMP activists who prefer the size of the 10-storey structures built on West Broadway. Developer Will Lin shrugs off many of the protesters as simply “coming to the table too late.� He’s confident that he has followed the MPCP, which both council and the community endorsed, and believes protests are a natural part of living in a democracy. “[RAMP] is entitled to voice their opinion,� Lin told Business in Vancouver. Changes to the original 2010 Rize proposal have already jettisoned 30 rental homes, 32 rental artist live-work homes and a 9,200square-foot artist production space that was to be donated to the city, according to Chris Vollan, vice-president of development for Rize Alliance. The Rize plan, approved in late April after a series of public hearings, still includes a $6.25 million community contribution for local amenities and affordable housing, Vollan said.
LEFT, BEFORE: Marine Gateway’s original bold design generated local protests. “Looks like stacked containers,� one critic quipped. RIGHT, AFTER: Marine Gateway’s damped-down final design. (Its 415 condominiums still sold out in four hours.) RIGHT: Rize Alliance’s proposed 19-storey condo tower at Kingsway and East Broadway.
tor Brian Lau of Re/Max City Realty. “If [PCI] spent more money on architecture they would not have been pricing 200 homes for under $350,000.� Brook Pooni Associates Inc.principal Gary Pooni said that the biggest weakness in the city’s consultation process is that too often it relies on traditional public hearings and doesn’t effectively use technology. “The public hearing process has been around for over 100 years, and it came from people lining up at City Hall, with or without their pitchforks,� he said. “They’ve got to find a better way to engage the next generation.� Michael Green Architecture principal Michael Green plans to launch a website soon
Photo: Rize Alliance Properties Ltd.
GLEN KORSTOM/WI STAFF
Photo: Busby Perkins + Will
(PJOH CMBOE
to seek public input for how to challenge conventions in Vancouver architecture. He also moderated an April discussion with innovative Danish architect Bjarke Ingels on that topic at the Chan Centre. Ingels has a cult following in global architectural circles and has designed a twisty, 49-storey tower, modelled after New York City’s Flatiron Building, for Westbank Projects Corp. next to the Granville Bridge at Beach Avenue and Howe Street. “We don’t have a name for the website yet,� Green said, “but it will be about how to transform Vancouver with ideas that don’t necessarily conform.� Good luck with that.◆
-PXFS .BJOMBOE
++-3-8):15/ 9;++-99 www.danpreston.ca
Personal Real Estate Corporation ,!.$ !33%-",9 s $%6%,/0-%.4 s ).#/-% 02/0%24)%3
COMMERCIAL R E A L E S TAT E S E R V I C E S
SENIOR'S DEVELOPMENT SITE SALE: $1,990,000 Foundation in place, tendered plans, permits, ready to complete. 88 units. City hall tax audit of $1m+.
NEW WEST/BURNABY MIXED DEVELOPMENT
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39 Apartment Units, 7 Townhouse Units $2,850,000 OCP & Area approved plan. Joint Venture Opportunities Considered.
30 ACRES Residential Mountain Top 44 Estate Homes - $5.5M Your specialist in PRIME income-generating and redevelopment opportunities:
A10 Lower Mainland
www.westerninvestor.com MAY 2012WESTERN INVESTOR
www.naicommercial.ca Commercial Real Estate Services, Worldwide.
RICHMOND s $EVELOPMENT SITE &RANCIS 2D 2AILWAY REDUCED $4.3 Million s #OMMERCIAL 2ETAIL 'ARDEN #ITY #AMBIE $6.8 Million
VANCOUVER s 7EST 3IDE X #ORNER 0ROPERTY
$6.1 Million
RICK LUI 604-644-6182 rick@naicommercial.ca
www.naibusinesses.ca HALCYON HOT SPRINGS VILLAGE & SPA 9EAR ROUND OUTDOOR PLAYGROUND WITH SPECTACULAR FACILITIES 0ROlTABLE RESORT SPA BUSINESS WITH NATURAL HOT SPRINGS ACRES WITH M WATER FRONTAGE AND STRATA CHALETS "USINESS AND PROPERTY $15,900,000 VANCOUVER ISLAND RESORT & SPA 0ROlTABLE RESORT LODGE AND SPA OFFERING WORLD CLASS DINING AND SPECTACULAR OCEAN VIEWS 3ITUATED ON ACRES OF OCEANFRONT PROPERTY WITH FUTURE DEVELOPMENT POTENTIAL $POA VALEMOUNT RAMADA HOTEL ROOM 2AMADA HOTEL LOCATED IN THE HEART OF THE #ANADIAN 2OCKIES #AP RATE $4,200,000 NEW LISTING SUCCESSFUL CUSTOM MILLWORK ,OWER -AINLAND BASED BUSINESS AVERAGING M IN REVENUE AND EMPLOYEES. $2.9m inc working cap ENGINE DISTRIBUTION CO 7ESTERN #ANADA ESTABLISHED DISTRIBUTOR OF MARINE AND INDUSTRIAL ENGINES AND RELATED PRODUCTS 3TRONG EARNINGS HISTORY TRAINED STAFF AND EXCELLENT PRODUCT LINES $2,500,000 inc inv & equip NIGHTCLUB BAR & GRILL +OOTENAYS !WARD WINNING NIGHTCLUB IN THE +OOTENAYS /NE OF THE LARGEST LICENSED ESTABLISHMENTS IN "# WITH POPULAR RESTAURANT $550,000 VANCOUVER DINNER CRUISE BUSINESS REDUCED )N BUSINESS FOR OVER YEARS OPERATING TWO YACHTS FROM $OWNTOWN 6ANCOUVER .ETS $1.85m inc yachts LOWER MAINLAND AUTOBODY SHOP NEW LISTING YEARS IN BUSINESS )#"# 6ALET ACCREDITATION SINCE 7ELL MAINTAINED PAINT BOOTH WITH OVEN ,ONG LEASE ON SQ FT SHOP $249,000 inc equip SUCCESSFUL CAFE RESTAURANT (UGELY POPULAR CAFE IN DOWNTOWN 3QUAMISH !PPROX + ANNUAL REVENUE 2ENT ONLY MTH %ASY TO OPERATE 4URNKEY OPERATION $299,000 inc equip
ALF SANDERSON DELON CHEUNG 604-691-6646
604-691-6654
alf@naicommercial .ca
delon@naicommercial .ca
42 SUITE APARTMENT BD, KAMLOOPS s 'ROSS )NCOME #AP 2ATE s 6ERY ATTRACTIVE ASSUMABLE #-(# MORTGAGE !SKING $3,850,000 MOBILE HOME PARK, KAMLOOPS s %XCELLENT LOC MIN DRIVE TO MAJOR MALLS s 'ROSS 2EV #AP 2ATE OF !SKING $1,725,000 BC CARE HOME s 7ELL ESTABLISHED WITH LONG TERM 'OV CONTRACTS !SKING $2,399,000 CRANBROOK RV & MINI STORAGE s !CRES EXPANSION OPTIONS TO DOUBLE NUMBER OF UNITS s 'ROSS 2EVENUE .ET !SKING $1,650,000 MINI STORAGE BUSINESS, MERRITT s 3TORAGE 5NITS AT A CAP RATE s 'ROSS 2EVENUE .ET !SKING $1,300,000 STRATA TOWNHOUSES, MERRITT s 4OWNHOUSES WITH GOOD TENANTS GROSS REV !SKING $510,000
MICHAEL MARCKWORT 604-691-6638 michael@naicommercial.ca
BRIDAL & EVENING WEAR BOUTIQUE (Lower Mainland) 0ROlTABLE LONG ESTABLISHED BUSINESS 'REAT LOCATION .ETS + ........................................... $500,000 + inv NEW LISTING BLUEBERRY FARM & NURSERY (Abbotsford) -ATSQUI mATS ACRES S F NEW HOUSE .....................$1.98Mil MOTEL PUB LIQUOR STORE (Vancouver Island) ,AKE FRONTAGE ROOMS SEAT PUB RESTAURANT LIQUOR STORE 2EVENUE MIL ........................................................................$2.8Mil HOME ACCESSORIES & FURNITURE (Surrey) &RENCH CLASSIC CONTEMPORARY TOUCH 0ROlTABLE ..........................$99K + Inv
ELIZABETH WOZNICZKO 604-691-6648 elizabeth@naicommercial.ca COMMERCIAL STRATA FOR SALE LANGLEY FRASER HIGHWAY FRONTAGE COMMERCIAL STRATA UNITS - 2 TO CHOOSE FROM s SQ FT READY FOR YOUR IMPROVEMENTS s (6!# AND SPRINKLERS TO AN OPEN PLAN s Asking $635,000 s SQ FT s )NCOME FROM CURRENT LEASE UNTIL s Asking $749,000
EQUIPMENT RENTALS Metro Vancouver s ,ONG ESTABLISHED s 6ERY 0ROlTABLE s &ULLY MANAGED s MIL ANNUAL SALES Shares $3.0mil EMPLOYMENT AGENCY Metro Vancouver s 4EMP 0ERM PLACEMENTS s %STABL YEARS SOLD s -ANAGEMENT IN PLACE s MIL ANNUAL SALES s 6ENDOR lNANCING AVAILABLE $319,000 GARAGE DOOR REPAIRS & SERVICE ,WR -NLD (OME BASED RESIDENTIAL GARAGE DOOR REPAIRS SERVICE BUSINESS %STABLISHED YEARS REPEAT CUSTOMERS )DEAL BUSINESS FOR A FAMILY OF TWO .ETS TO A FATHER SON TEAM Shares $239,000 DOLLAR STORE FRANCHISE &RASER 6ALLEY s 3INCE s (IGH EXPOSURE IN LARGE MALL SOLD s MIL ANNUAL SALES .............................. $358,000+Inv
TED STELLAKIS 604-691-6692 stellakis@naicommercial.ca "52.!"9 s .%7 7%34-).34%2 s #/15)4,!-
INDUSTRIAL STRATA FOR SALE OR LEASE 102/103 26730 56 AVE LANGLEY Asking: To Purchase $650,000 To Lease $7.50 NNN s SQ FT FOOTPRINT WITH SQ FT OFlCE AND SQ FT MEZZANINE s REAR GRADE DOORS s - ! :ONING OFFICE STRATA FOR SALE OR LEASE HIGHWAY 10 AND 152 STREET LOCATION Asking: To Purchase $519,900 To Lease ... s 3Q &T s RD mOOR SOUTH FACING s 2EADY FOR YOUR IMPROVEMENTS s "/.53 n 0OLE SIGNAGE AVAILABLE s &INANCIAL 0LANNERS OR -ORTGAGE "ROKERS NOT RESTRICTED 99 PAD PHASED MANUFACTURED HOME PARK 100 MILE HOUSE AREA Asking $650,000 s ,AKE !CCESS AND VIEW s "RAND .EW n .O INCOME n ST PHASE READY FOR OCCUPANCY s ACRES PADS IN PHASES s ST PHASE PADS COMPLETED WITH SEWER WATER AND NATURAL GAS s 3ERVICES TO BE EXTENDED FOR OTHER PHASES AS REQUIRED s 'RAVELLED ROADWAYS THROUGH OUT s 0ROFORMA ESTIMATES PAD RENTAL GROSS INCOME OF ANNUALLY COMING SOON JESKE BUSINESS CENTRE s )NDIVIDUAL 0RIVATE %XECUTIVE OFlCES s "EST BUSINESS ADDRESS IN THE &RASER 6ALLEY s 3IZES FROM INDIVIDUAL SQ FT TO MULTI PERSON SQ FT s #ALL FOR INFO
TED WEIBELZAHL 604-514-6825 or 1-800-890-9855 tedw@naicommercial.ca
RESTAURANT: SEAT 6ICTORIAN REDUCED $1,400,000 INCL. BLDG LOWRISE DEVELOPMENT SITE: SQ FT (SE $1,980,000 BUILD TO SUIT OFFICE: SQ FT
$14 NET
KINGSWAY RETAIL SHOWROOM: SQ FT $6500 PER MO COURT SALE STRATA RETAIL: SQ FT REDUCED $650,000
DON ELLIS, RI 604-691-6668 donellis@naicommercial.ca 160 Acre Development Site, Abbotsford BC s /NE LEGAL QUARTER SECTION TOTALLING ACRES s :ONED ,5 2 ,IMITED 5SE 2ESOURCE 2ESIDENTIAL s PRICE: $3,900,000 23.3 Acre Agricultural Site, Delta BC s /NE LEGAL PARCEL TOTALLING ACRES s :ONED ! !GRICULTURAL s %ASY ACCESS TO (IGHWAYS s PRICE: $2,400,000 27.6 Acre Agricultural Site, Langley BC s /NE LEGAL PARCEL TOTALLING ACRES s :ONED 2U 2URAL &LOODPLAIN s !DJACENT TO .ATHAN #REEK DYKE s PRICE: $2,760,000
COURT ORDERED SALES 397 Acre Development Site, Sechelt BC s :ONED #$ MIXED USE RESIDENTIAL COMMERCIAL RECREATIONAL s FEET OF WATERFRONT ON 0ORPOISE "AY PRICE: $22,250,000 459.1 Acre Development Site, Cranbrook BC s :ONED #$ 5( 2 ALLOWING FOR LOW MEDIUM DENSITY RESIDENTIAL s 3URROUNDING 'ARY 0LAYER DESIGNED GOLF COURSE PRICE: $22,300,000 1.99 Acre Multi Family Development Site, Sechelt BC s /NE LEGAL PARCEL TOTALLING ACRES s :ONED 2 -ULTI &AMILY 2ESIDENTIAL s OF UNDERGROUND SERVICING IN PLACE PRICE: $1,900,000 116.53 Acre Development Site, Invermere BC s 4RIPLE :ONED 2 ! 3( VARIOUS USES PRICE: $1,499,000 INDUSTRIAL & DEVELOPMENT SITES 43,560 sq.ft. Industrial Waterfront Site, New Westminster, BC s :ONED - (EAVY )NDUSTRIAL s &IVE CONTIGUOUS WATER LOTS s FEET OF RIVERFRONT PRICE: $950,000 29.2 Acre Commercial/Industrial Development Site, Sechelt BC s :ONED #$ "USINESS 0ARK #OMPREHENSIVE $EVELOPMENT ALLOWING FOR VARIOUS COMMERCIAL LIGHT INDUSTRIAL USES UNDER CONTRACT 0.6 Acre Industrial Site, Maple Ridge BC s $IRECT WATER AND (IGHWAY ACCESS WITH ACCESS TO RAIL s :ONED - 23 ,IGHT )NDUSTRIAL 2ESIDENTIAL PRICE: $325,000 1.82 Acre Multi-Family Site, Sechelt BC s /NE LEGAL PARCEL TOTALING ACRES s :ONED #$ MAXIMUM OF UNITS s $OWNTOWN ,OCATION PRICE: $2,000,000
GARY HAUKELAND OR J.D. MURRAY gary@naicommercial.ca 604-683-7535 jdmurray@naicommercial.ca
Committed to Canada. Connected to the World.
A11
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
FEATURE Window closing for bottom feeders as profit potential moves upmarket and into prime locales
#FTU 6 4 IPVTJOH CVZT FRANK O’BRIEN WESTERN INVESTOR ince the crash of the U.S. housing market five years ago in the wake of the subprime mortgage crisis, Canadians have been finding spectacularly low-cost homes across the Sun Belt. In Phoenix, Arizona, Las Vegas, Nevada, and parts of southern Florida and California, average home prices plunged 40 per cent to 50 per cent from the peak.
4
4BO 'SBODJTDP Photo: Bosa Development
But according to Canadian developers and realtors familiar with America, the real action – and potential profits – is now in high-end housing as the world’s biggest economy suddenly awakens. Even those who have swept up foreclosed bargains in Nevada and Arizona say the window is closing on super-low prices. “It is a feeding frenzy now in Phoenix,� said Janet LePage, the 30-year-old principal of Vancouver-based LePage Property Investments Ltd., who has gone elbow-toelbow in the foreclosure mosh pits that have characterized the Phoenix arena for the past four years. “Now I’m often outbid on properties.� But, she said, there are still Phoenix bargains to be had and leverage to be gained for other Gen-Xers willing to tough it out: “You can still buy condos for $50,000.� LePage bought her first Phoenix house in 2008. Today her Arizona real estate portfolio includes houses, condos and an apartment building with a total value of $2.3 million and a capitalization rate of 9 per cent. She – and many other Canadians – still see Arizona as a great buy. �Interest rates are at the lowest level in history, the dollar is at par and Phoenix has both a strong rental market and rising real estate prices,� she said. “This is an historical opportunity.�
becoming a prime high-end housing market. He points to the luxury condominiums in Las Vegas’ City Centre project, which was completed for $11 billion just as the condo market tanked. “Super luxury� suites in the Mandarin or Veer towers – part of the 57-acre development right on the famous Strip – are being sold from $500 per square foot, less than half the price when they were finished four years ago by MGM Resorts. “There is not a single crane working in Las Vegas now,� McCredie noted, which means that luxury competition is not in the cards.
Bosa Development’s Madrone condo project in San Francisco: now selling fast at more than $700 per square foot. U.S. recovery is based on high-paying jobs, developer says.
In Phoenix, one out of every 259 homes is in foreclosure – one of the highest rates of all U.S. cities – but the default rate is falling. A year ago, nearly half of all sales were foreclosure properties. Now that percentage has dropped to 24 per cent. By March, Phoenix house sales had jumped 22 per cent from a month earlier, average prices were up 6 per cent and the inventory had fallen to 11,200 units – half of what it was two years ago. Meanwhile, Phoenix has generated more than 42,000 new jobs in the past year, ranking it seventh in job growth among U.S. cities.
6 4 VQUVSO
A sudden end to the low-baller market will be seen right across Sunbelt, according to Vancouver-based Ross McCredie, president and CEO of Sotheby’s International Canada. Sotheby’s concentrates on the top 40 per cent of the residential market and McCredie claims such U.S. sales are seeing a “significant
increase� this year. McCredie said sales of high-end homes are soaring in the U.S. Sunbelt and it is already “too late� to get a real deal in prime southern Florida. “Miami prices have shot up by $200 a square foot this year and it happened fast,� he said in an interview with Western Investor. Forget the $50,000 Phoenix condos, he said. The real value is upmarket Arizona. Alberta and B.C. high-rollers are buying in toney Scottsdale, where you can find luxury houses at the exclusive Pinnacle Creek Country Club for $995,000. “A house like that would be twice the price in Canada,� he said. According to McCredie, Canadian buyers are responsible nearly onethird of the Phoenix homes that sold for $1 million or more in the past year. “The U.S. recovery is already underway,� McCredie said. “And there are a lot of wealthy Americans.� McCredie said Las Vegas, which has among the highest foreclosure rates in the U.S., is now
For Nat Bosa, president of Burnaby-based Bosa Developments, the lack of competition represents an opportunity in prime U.S. housing markets such as job-rich San Francisco and Seattle. “I gambled on a $300 million project in San Francisco,� Bosa said of his luxury Madrone condominium development, which he began just as the 2008 recession gutted the U.S. housing market. The gamble is now paying off. The Madrone is the only large new condominium tower being built in California’s second-largest city, and the second-largest in the U.S. since 2008, Bosa said. The Madrone’s 329 condos were selling for $900 a square foot when pre-sales started four years ago in the Mission Bay district. Now rebranded, they are priced from $710 to $750 per square foot, with the average home selling for around $725,000. When Bosa re-launched pre-sales last year, 49 units sold within weeks and the project now has 120 sales with 40 pending. “We were going to close the sales office in August,� Bosa said. “But sales suddenly just took off. I caught the wave. San Francisco is the best market to be in right now. It is all base d on job growth and San Francisco has tremendous job growth.� According to the latest quarterly Anderson Forecast from University of California economists, San Francisco’s thriving tech
Please see Job growth page A12
-PXFS .BJOMBOE PORT MOODY Excellent Investment Opportunity; Mixed Commercial / Retail / OfďŹ ce & Residential
HDJI= 9:AI6 HE6 ;DG H6A: $125,000 L:HIH>9: =6>G H6ADC ;DG H6A: $40,000 A>FJDG HIDG: >C 9:AI6 H=DEE>C< 8:CIG: ;DG H6A: $1.59 MILLION. &*!&'. H#;# G:I6>A D;;>8: 7J>A9>C< >C 9:AI6 ;DG H6A: $5.8 MILLION.
One Block from the future Port Moody Evergreen Line Station. Three Commercial Units - Fully Leased. Two Residential Units – 3 Bedrooms + Den, 1600+ sq.ft. ea. Owner Occupied all on a 60 x 145 Corner Lot. 8712 sq.ft. $2,795,000 = a projected 4.1% Cap Rate
A6C<A:N 76@:GN ;DG H6A: $119,000. $400k PER YEAR SALES. B6?DG IDDA 9>: 8DBE6CN ;DG H6A: L>I= A6C9 6C9 7J>A9>C<H $6 MILLION.
LANGLEY 91.6 acres - Redevelopment Property Located on Telegraph Trail & 224th Street with a portion of the property backing onto #1 Highway almost directly across the street from the Belmont Golf & close to serviced residential subdivisions at 216th Street. The land is heavily treed, vacant, has never been worked and is currently in the ALR. OfďŹ cial community plan designated for approximately 22 country estate lots that are 4.2 acre in size – a gated community with large single family homes would work well with the lands topography and watercourses. The city will consider higher density if the lots are serviced with the city sewer system or the developer provides a sewer treatment plant. $9,998,000
Alan J. Charlton 604-787-7357 al@yvrrealestate.com
www.yvrrealestate.com
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ADD@>C< ;DG HE68: ;DG/ r Junior Kindergarten, 5000 – 8000 sq. ft. r 1SPEVDF #VUDIFS TR GU. r International News, La Taqueria, 6ODMF 'BUJI 1J[[B 'JU GPS -JGF 3BTPFF 400-1200 sq. ft. ADD@>C< ;DG BJAI>;6B>AN =DI:A EGDE:GI>:H r 1SJODF (FPSHF
Michael Anderson 604.374.1171 b^X]VZa5cdgi]Zgck^h^dcgZVain#Xdb
Matt Gratton 778.554.9100 bVii5cdgi]Zgck^h^dcgZVain#Xdb lll#cdgi]Zgck^h^dcgZVain#Xdb
A12 Lower Mainland LANGLEY s "%$ #!2% (/-% s 2%3)$%.43 4/ "% 2%,/#!4%$ &!,, s ) !#2% /& ,!.$ s 35)4!",% &/2 2%$%6,/0-%.4 4/ -5,4) &!-),9 s
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200 plus Units City Centre area, Surrey Third reading passed Six storey wood frame $5,900,000
Amrik S Rai
-ICHAEL "ARAGON *OE 0ETERS
02%#
www.westerninvestor.com MAY 2012 WESTERN INVESTOR
(Royal Lepage Locations West)
Royal Pacific Realty 604-709-9200
!LlE -ACALINO W W W C A R E W E S T P R O P E R T I E S C O M
amrik@incomerealty.ca SPECIALIZING IN COMMERCIAL INVESTMENT SALES FOR OVER 23 YEARS
WE HAVE BUYERS FOR YOUR PROPERTY "BUY-SELL-DEAL WITH SUCCESS"
Strategic Investment
Restaurant For Sale ING IST L NEW
West End Denman St Location. Well established, with excellent street exposure. 2,400sf, 80+ seat, fully licensed Asking $128,000
Lonsdale Ave, North Van. Income property, 4 stores, underground parking Asking $4,150,000
Chinatown Investment Prop 416 Main Street
+0# (3085) from A11
industry is a key driver of economic recovery across California. A single software company, Salesforce, will add 2,000 jobs this year in San Francisco. Bosa, who sees all mortgage applications for his Madrone condo buyers, said they are much different than those at his Vancouver projects. “Young people are coming out of school [in San Francisco] and starting at Google and Apple at $120,000 a year. A huge percentage of buyers are making $250,000. In Vancouver we don’t have a large group of workers making a lot of money.� Bosa’s second San Francisco tower, launching later this year, will have condos from $850,000, he said. The U.S. recovery, he noted, is based on a strengthening domestic economy, not immigration and foreign buyers. Bosa has little confidence in Vancouver’s single-family detached housing market, which last month saw average West Side of Vancouver prices at $2.2 million. “I shouldn’t say this, but if the [offshore] Asian buyer left Vancouver, I think detached house prices will fall 25 per cent to 30 per cent,� he said. Bosa will continue to build south of the border. His company has a 350-unit condo project underway in Seattle close to Microsoft, and three condo projects approved and ready to start in San Diego. He dismisses lower-cost Phoenix and Las Vegas. “I only go with the best locations, on the West Coast,� Bosa said.◆
CARIBOO RANCH FOR SALE
High Traffic Retail Location D 4363 Main St (at 27th) SOL Prime investment opp. Ext. renovations.
Excellent Chinatown location. D SOL Previous bank building. Ready for design renovation. Asking $1,400,000
W
hile the U.S. housing market recovery begins to accelerate, there are some homes Canadians should steer away from, according to Ross McCredie of Sotheby’s International Canada, which is quite active in the American market. McCredie said perhaps the worst properties are large detached houses in unfinished suburbs in areas like Arizona, Nevada and central California. Many of these suburbs are far from the city and, due to few residents, often lack basic infrastructure or retail services. “Some of these houses were built for the million-dollar range,� he said, “but they are now virtually unsellable.� McCredie was among the first to look through the Lehman Bros portfolio after the collapse of the Wall Street subprime leader. On that list were 174 U.S. subdivisions or developments, but Sotheby’s saw opportunity in only 12 of them. McCredie now expects many big, empty suburban houses in the Sunbelt to be bulldozed. When the American housing recovery gets rolling – and McCredie said there is only a “six month window� before that becomes obvious – wealthy U.S. buyers will remain “scared� of buying in second-tier cities and suburbs. “They want quality locations,� he said, “and they are willing to pay for it.�
POWELL RIVER INVESTMENT O P P O RT U N I T I E S Multi-use Light Industrial Property
New 5 year lease to experienced bakery. Large 3 bdrm suite. Asking $1,680,000
138 East Pender
8IBU OPU UP CVZ JO 6 4
Growth potential in emerging area. High exposure & foot trafďŹ c. Established tenant Asking $1,225,000
For more details: Success Realty & Insurance Ltd.
JORDAN ENG (604) 728-0883 jordaneng@telus.net
Historic 100 Year Family Owned Cattle, Forestry, Equestrian 4,633 Acres-Fully Fenced Well Cared For Close to Highway, Airport & Railway Close to Schools, Shopping, Community www.BridgeCreekRanchforsale.com Terry A Young 604-970-3808 1-800-665-1455 tayoung2011@gmail.com RE/MAX Crest Realty
COMMERCIAL PROPERTY SOLUTIONS Concrete /Asphalt Paving / Curbing
Flooring Grinding / Polishing Systems
Food Grade Epoxy Flooring Systems
Crack Sealing / Seal Coating / Line Painting
Restoration / Repair / Maintenance
Sidewalks, Paving Stone Repair
Potholes, Cracks, Joints, Grinding, Leveling
Traffic Signs, Bollards, Speed Bumps
Parkade Membrane Repairs
Licensed, Bonded & Insured
Traffic Deck Systems
24 Hour Turn Around Service
1.3 acres with 16 storage bays, office, 21’x41’ shop/bay with 3 phase power. Fully fenced, easy highway access, good exposure, room for expansion, just minutes south of Powell River. $349,900
In-Town Oceanfront Industrial Property
Multi-purpose Development Property; 97 acres gently sloping land + approx 19 acres of foreshore with deep water access. $3,100,000
Magnificent Waterfront Acreage
245 acres west sloping land approx. 2700’ waterfront; incredible panoramic views; in ALR $3,100,000
Incredible Location!
132 acres just past downtown core; select areas provide stunning ocean & island views; in ALR $849,000
Ideal Agri-Business Opportunity
102 acres fairly level land; many possibilities; easy access; in ALR $569,900
Great Investment Property
30 acre wooded parcel zoned M3 Industrial; easy access; services available $349,000
For information on these properties or
KING
SERVICES GROUP: OfďŹ ce: 604-576-8666 Toll-free: 1-800-991-1852
w w w.kingser vices.ca
email: sales@kingservices.ca
other Powell River investments
CONTACT US TODAY
WESTERN INVESTOR MAY 2012 www.westerninvestor.com sss
Recreational Real Estate LIFESTYLE PROPERTIES A13
s
“The Source” for Oceanfront, Lakefront, Islands, Ranches, Resorts & Land in BC at:
www.landquest.com Èä{ ÈÈ{ ÇÈÎäÊUÊ£ nÈÈ xxn ÊxÓÈή KING SALMON RESORT WEST COAST BC
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SOUTH CARIBOO ACREAGE
UÊ xÊ£ÉÓÊ>VÀià UÊ 7> }Ê` ÃÌ> ViÊÌ Ê >Ü Ê > i UÊ ÃiÊÌ Ê iÊ ÕÌÌiÊEÊ£ääÊ iÊ ÕÃi UÊ ÕÃÌÊ vvÊ ÜÞÊÓ{Ê/ iÊ Ã }Ê } Ü>Þ® UÊ * ÜiÀÊ> `Ê« iÊ>ÀiÊ>ÌÊÌ iÊ ÌÊ i UÊ À ÛiÜ>ÞÊ ÃÊ °Ê VViÃÃÊÌ Ê À Ü Ê > `Ê UÊ $74,900Ê
ECO–PARADISE HARRISON RIVERFRONT ACREAGE
220 ACRES IN THE COWICHAN VALLEY
2+ ACRES - HOPE, BC FRONTING ON 2 FAMOUS RIVERS
ISLANDS ON STUART LAKE FT. ST. JAMES AREA
UÊ -i v ÃÕÃÌ> }Ê{£Ê>VÀià UÊ Ó]ÇääÊvÌ°Êà ÕÌ Êv>V }ÊÀ ÛiÀvÀ Ì UÊ £äÊ ÃÊÌ Ê >ÀÀ Ã Ê ÌÊ-«À }à UÊ }Ê i]ÊÎÊV>L Ã]ÊV Ê ÕÃi UÊ £ää½Ê` V Ê}Ài>ÌÊv à }Êv ÀÊÃ> ÊEÊ ÃÌÕÀ}i UÊ *iÀviVÌÊÞi>ÀÊÀ Õ `Ê}iÌÊ>Ü>ÞÊÊUÊÊ$1,225,000
UÊ £ääÊ>VÀiÃÊ vÊ,>ÀiÊ i>ÛÞÊ `ÕÃÌÀ > Ê< i` UÊ £ÓäÊ>VÀiÃÊ vÊ {Ê>` }®Ê UÊ iÃÃÊÌ > Ê£äÊ ÃÊÌ Ê` Ü Ì Ü Ê Õ V> Ê UÊ Ê ÕÀÊÌ Ê6 VÌ À >Ê Ê6> V ÕÛiÀÊ Ã > `ÊÊ UÊ > ÊLiÊÃÕL` Û `i`]Ê« ÜiÀÊÌ Ê«À «iÀÌÞÊ UÊ iÜ ÞÊ`À i`ÊÜi Ã]Ê}À>Ûi Ê`i« à ÌÃÊ UÊ $900,000 & $1,700,000
UÊ / iÊ , - ,ÊEÊÌ iÊ "+1 UÊ i>ÕÌ vÕ ÞÊÌÀii`]ʣʣÉÓÊ ÀÃÊvÀ Ê6> V ÕÛiÀ UÊ £Ê vÊ>Ê `Ê«À «iÀÌÞÊ Ê ÜÊL> ÊÀ ÛiÀvÀ Ì UÊ ÀiVÌ ÞÊ>VÀ ÃÃÊÀ ÛiÀÊ ÃÊ} vÊV ÕÀÃi UÊ *iÀviVÌÊLÕ ` }Êà ÌiÃÊqÊ/"/ 9Ê*, 6 / UÊ , ÛiÀÊEÊ Õ Ì> ÊÛ iÜà UÊ , 1 Ê/"Ê$489,000 Ê
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2ICH /SBORNE 0ERSONAL 2EAL %STATE #ORPORATION
0ENNY -C&ARLANE PENNY LANDQUEST COM
"RIAN (ARRIS BRIAN LANDQUEST COM
$ENIS $ORE DENIS LANDQUEST COM
26 ACRES - EASTERN HILLSIDES DEV. PROPERTY - CHILLIWACK
YOU’VE FOUND IT: THE BEST LAKEFRONT DEAL IN SW BC
CHERRY CREEK ESTATE CRANBROOK, BC
UÊ- «i`Ê«À «iÀÌÞÊÜÉÊV >Ãà VÊ Õ Ì> Ê iÊ Ê LÕ ÌÊÌ ÊÌ> iÊ>`Û> Ì>}iÊ vÊ V>Ì ÊEÊÛ iÜÃ°Ê UÊ V>Ìi`Ê>L ÛiÊÌ iÊ > ÃÊ vÊ ÕÀÃiÊÊ UÊÓÊL`À ]ÊÎÊL>Ì ]ÊÎ]äää³ÊõÊvÌÊvi>ÌÕÀiÃÊ Êv ÀÊÌ ÊVi }ÊÜ ` ÜÃÊ ÊÌ iÊ «i Ê Û }É ` }ÊÀ °ÊÊ >À}iÊ`iÌ>V i`ÊÜ À Êà «ÊÜÉÊ iÝÌÀ>Ê i } ÌÊ` À°ÊÊUÊ $875,000
UÊ {ÊL`À Ê }ÊV ÌÌ>}iÊ{Ê ÀÃÊÌ Ê6> V ÕÛiÀ UÊ ,ÕÃÌ VÊV >À>VÌiÀÊÜÉÊ `iÀ ÊV Ûi i Vià UÊ £° Ê>VÀiÃÊÜ Ì ÊÓÓä½Ê vÊ > iÊvÀ Ì>}i UÊ - > ÊÛ iÞ>À`]ÊvÀÕ ÌÊÌÀiiÃ]ÊÃÌÕ }ÊÛ iÜà UÊ >ÌÊ ÌÊ> `ÊÜi Ê > `ÃV>«i` UÊ 1 µÕiÊ i` ÌiÀÀ> i> Ê VÀ ÊV >Ìi UÊ `iÀÃ Ê > i]Ê Ê$479,000
103 MILE HOUSE ACREAGE
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+EN (UNTER KEN LANDQUEST COM
-ATT #AMERON MATT LANDQUEST COM
7 C’S RANCH NAKUSP, BC
SLOCAN VALLEY
SHOAL HARBOUR MARINA SIDNEY, BC
BACKCOUNTRY LODGES & TOUR OPERATION - SELKIRK MOUNTAINS
UÊ {ÎÓÊV i>Ài`Ê>VÊ ÛiÀ }Ê ÀÀ ÜÊ ° UÊ Ó]nääÊÃvÊVÕÃÌ Ê }Ê iÊÜÉÊvÕ ÊLÃ Ì UÊ nÈÊÝÊ{ÎÊvÌÊ >ÞÊL>À UÊ {xÝÎäÊvÌÊÃÌ V ÊL>À UÊ > `Ê ÃÊÜi Ê ÀÀ }>Ìi`]Ê > ÞÊ« Ãà L Ì ià UÊ * Ìi Ì > Êv ÀÊÃÕL` Û Ã UÊ $1,850,000Ê
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UÊ -Õ«iÀÊ V>Ì ÊÜÉÊ`iÛi « i ÌÊ« Ìi Ì > UÊ ä°{{Ê vÊ> Ê>VÀi]ÊÓxÊÃ «Ê >À > UÊ >À iÊ À i Ìi`ÊV ` Ê«À iVÌ UÊ À Õ `Êv ÀÊ >À iÊV iÀV > UÊ >À iÊÃiÀÛ ViÊEÊÀi«> ÀÊv>V ÌÞ UÊ < i`Ê >À iÊ `ÕÃÌÀ > UÊ $2,600,000
,ARRY ,AING LARRY LANDQUEST COM
,ARRY ,AING LARRY LANDQUEST COM
$AVE #OCHLAN DAVE LANDQUEST COM
$AVE #OCHLAN DAVE LANDQUEST COM
+ONRAD - 3CHMID -EIL KONRAD LANDQUEST COM
OFFICE BUILDING WILLIAMS LAKE CARIBOO REGION OF BC
HOME & COMM. MARINA LEASE OKEOVER INLET, BC
NEW HOME IN 55+ COMPLEX 100 MILE HOUSE
RECREATIONAL OR INVESTMENT PROPERTY – MERRITT, BC
COUGAR ANNIE’S GARDEN CLAYOQUOT, BC
UÊ ÓÓ]x{äÊÃvÊV VÀiÌiÊLÕ ` } UÊ Ó£]äääÊÃvÊÀi Ì>L iÊë>Vi UÊ ,i ÌÊ V iÊf£ Ó]äääÊ ÊfÓ ä]äääÊ UÊ / «Ê > ÊÌi > ÌÊ« ÕÃ]ÊÀiÃÌ>ÕÀ> ÌÊ> `ÊL>ÀÊ UÊ >«ÊÀ>ÌiÊLiÌÜ°ÊǰǯÊ> `Ê£{¯ UÊ $1,350,000
UÊ Î°ÈÎÊ>VÊ vÊÀ >`Ê>VViÃà L iÊ Vi> vÀ Ì UÊ >Ìi`Êi ÌÀÞ]Ê{näÊvÌÊ vÊ Vi> ÊvÀ Ì>}iÊ UÊ * ÜiÀ]ÊÃi«Ì V]ÊÜi Ê UÊ ÓÊ ÕÌLÕ ` }ÃÊEÊL >ÌÊ >Õ V Ê UÊ / iÊ}>ÌiÜ>ÞÊÌ ÊÜ À `ÊÀi Ü i`Ê Þ>V Ì }Ê`iÃÌ >Ì ]Ê ià >Ì Ê- Õ `Ê UÊ ,i`ÕVi`Ê/ Ê-i Ê$599,000
UÊ ,>ÀiÊ vviÀ }tÊ£n{ÊÃÕL ` Û `>L iÊ>VÀiÃÊ UÊ " Ê ÜÞÊx ÊLiÌÜii Ê iÀÀ ÌÌÊEÊ*À ViÌ Ê UÊ « iÌi ÞÊ ÕÌà `iÊÌ iÊ ,Ê UÊ ÝÊ}À>Ãà > `ÉÌÀii`Ê>Ài>ÃÊÜÉÊVÀii ÃÊ UÊ > Ì>ÃÌ VÊ-7ÊiÝ« ÃÕÀiÊEÊ£näcÊÛ iÜÃÊ UÊ 7 ` viÊ ÃÊiÛiÀÞÜ iÀi UÊ $1,350,000
UÊ ££ÇÊ>VÀiÃÊ vÊ Ê ÃÌ ÀÞÊ ÃÊv ÀÊÃ> i UÊ xÊ>VÀiÃÊ vÊ ÃÌ À V> Ê}>À`i ÃÊ UÊ i>ÕÌ vÕ ÊÜ>À ÊÃÜ }Ê > iÊÜÉÜ >Àv UÊ ÈÊV>L Ã]ÊvÕ ÞÊiµÕ ««i`ÊV Ê ÕÃi UÊ /i>V }ÊVi ÌiÀÃ]Ê ÕÃiÕ ]ÊÇääÊ ÊVi`>ÀÊ L >À`Ü> ÊEÊ ÀiÊ UÊ Ì Û>Ìi`ÊÃi iÀÊ Êf£]£ x]äää
UÊ iÌ>V i`Ê iÊV ÃiÊÌ ÊÌ Ü UÊ Õ ÞÊi V Ãi`Ê i>Ìi`Ê}>À>}i UÊ "«i Êv ÀÊ« > UÊ ÓÊLi`À Ã UÊ À}i ÕÃÊ ÌV i ÊÜ Ì Ê«> ÌÀÞ UÊ >À`Ü `]ÊÌ iÊ> `ÊV>À«iÌi`Êv À } UÊ >ÃÊv Ài« >ViÊ$224,900
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67 ACRES WATERFRONT RETREAT
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LIFESTYLE CHANGE FRASER VALLEY
180 ACRE RIVERFRONT HOBBY FARM
MT. BALDY ACREAGE
LYTTON BC AIRSTRIP DEVELOPMENT
SHUSWAP LAKE DEVELOPMENT LANDS
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A14 Recreational Real Estate LIFESTYLE PROPERTIES
www.westerninvestor.com MAY 2012 WESTERN INVESTOR
COVER Spring sales surge as back-to-basic buyers discover true value in small-town recreational markets
$PUUBHF DPVOUSZ SFWJWBM FRANK O’BRIEN WESTERN INVESTOR n early death to B.C.’s harmonized sales tax (HST) on recreational residences, much lower condo and cottage prices, a sharp upturn in the Alberta economy and a renewed search for retirement havens has spurred a spring surge in the vacation-home market.
But this upstroke is different from the cycle that ended four years ago; today, say those close to the action, vacation buyers are looking for solid, simple value, not innovations such as the hotel condos, leased land or fractionals that defined the last boom. When the market sank in 2008 it exposed shared ownership concepts as a failure for most investors. At Sun Peaks ski resort near Kamloops, restricted-use hotel condos that once sold for $199,000 are now listed for about one-tenth of that price. At Whistler, hotel condos – known as Phase 2 units – are selling for less than they were in 1999. Recent listings show one-bedroom Phase 2 suites at Whistler priced as low as $61,000. A Vancouver investor who bought a shared unit at the Penticton Lakeside Resort in the Okanagan for $140,000 three years ago estimates the unit has lost half its value. “We only used it for 12 days in the last two years,” said the buyer, who asked not to be named. “But the rentals have never covered our costs.” Fractional units, where resort condos are usually sold in one-eighth to one-quarter shares, have also floundered. Among the high-profile collapses is the luxury Parkside Resort and Spa in Victoria, where one-eighth fractional shares were being sold from $115,000 to $121,000 last spring. Parkside is now under court protection from creditors, with more than $60 million in unsold inventory according to court filings by Victoria-based developer Aviawest Resort Group. As real estate consultant Ozzie Jurock
Photo: Cultus Country Investments
"
Developer Jon van Geel at his Cottages at Cultus Lake: 165 cottages already sold and action is rising with the death of the HST.
explains, the problem with fractionals is that, if the market turns down, up to eight owners will be all trying to sell the same unit at the same time. “No one will build hotel condos or fractionals anymore,” predicted Zack Bhaista, vicepresident of Mayfair Hotels and Resorts of Vancouver. “Anybody who bought a [shared ownership] hotel unit in the last 10 years has lost a tremendous amount of money.” Developers who are offering full ownership, however, have found stability sells. At Sun Peaks and Whistler, demand for traditional condominiums and chalets is rising, despite relatively high values. Sun Peaks is also finding interest in its single-family building lots, after discounting prices 30 per cent from the peak to $195,000.
where 165 freehold cottages a block from Cultus Lake have sold at prices of around $300 per square foot. Developer Jon van Geel is quick to credit HST changes for an uptick in sales this spring, but Cultus Lake combines many of the features hard-nosed buyers are looking for: • freehold land with detached cottages; • close to the lake and next to a golf course; and • a short (under two-hours) drive from the Lower Mainland. After the HST came into effect in 2010 – slapping the full 12 per cent tax onto secondary residences – “we had more people looking but less people buying,” van Geel said. With the change this April, which allows vacation homes the same rebates as principal residences for the next year until the tax ends, “sales have shot up,” he said. He estimates the HST added 4FBSDI GPS WBMVF Evidence of the search for value is perhaps best up to $20,000 to $40,000 to the cost of a Cultus seen at Cultus Lake Cottages in Chilliwack, Lake Cottage.
Studies show how badly the HST hit B.C.’s recreational market. In the Okanagan, for example, sales of property to Alberta buyers fell by 40 per cent in the six months after the HST was introduced in July 2010, compared with the previous six months. In the Kootenays, the value of sales to Albertans was cut in half after the HST came in despite deeply discounted prices, according to a survey by Landcor Data of New Westminster. A profile of today’s recreational buyer is also seen at Cultus: only about 4 per cent of the buyers are permanent residences and their average age is around 50. “People are buying a long-term vacation home for their families,” van Geel said. “People like to have their own dirt under their property, not someone else’s condo.”
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“Opportunities [in the recreational market] that haven’t been seen in years are now presenting themselves,” Elton Ash, regional executive vice-president, Re/Max of Western Canada, said last year – and the comments ring true today. But there is a darkside to why recreational prices are such a deal in B.C. this spring: a faltering economy in many small towns. A prime example is Powell River on the upper Sunshine Coast. Blessed with sandybeached islands, half-a-dozen lakes, excellent fishing and outstanding ocean cruising from modern marinas, Powell River is facing troubled waters. On April 23, the town’s largest employer, under court protection from creditors, sought court approval to sell the town’s pulp mill and biggest employer. As stores go dark, the downtown retail strip “looks like a hockey player’s teeth,” as one local put it. Further hampering the market is soaring BC Ferries fares. A family of four driving up from and back to Vancouver would have to pay $225, and another fee increase is expected this summer. As a result, “There are real estate bargains
Commercial Real Estate
Awards of Excellence Tickets are on sale now!
May 30, 2012 VIP reception: 5:30 pm General reception: 6:15 pm Awards dinner: 7:00 pm - 9:00 pm Location: The Four Seasons Hotel - 791 West Georgia Street
The NAIOP Vancouver and Business in Vancouver Commercial Real Estate Awards of Excellence recognize quality and performance, innovation and creativity, teamwork and collaboration, as well as community and environmental awareness. This is a great opportunity to promote your work to Vancouver’s business community and the
Go to www.biv.com/realestateawards to register
commercial real estate industry. PRESENTED BY:
Tickets: BIV subscribers/NAIOP members: $125 Non-subscribers: $149 Table of 10: $1,250 Corporate table of 10: $2,250 (includes logo recognition and priority seating)
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Recreational Real Estate LIFESTYLE PROPERTIES A15
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
here,” confirmed veteran Powell River realtor Warren Behan. Waterfront houses can be had for $500,000 or less and oceanview houses sell for half that price, he said. Two-bedroom view condos go for $125,000, some even lower. A classic old cottage a block from the water on Texada Island is listed at $94,000.
7BODPVWFS *TMBOE
“It’s not a great time for developers. We’re making substantially less than a few years ago.”
Photo: Bellstar Hotels & Resorts
Across the Georgia Strait in the Comox Valley recreational property is selling now for at least r20 per cent lower than two years ago. Expect to spend upward of $300,000 for an oceanview house close to skiing at Mount Washington, sandy beaches and several fine golf courses. Parksville, together with nearby Qualicum Beach, has among the highest percentage of f seniors in B.C. – about half of Parksville resirdents are retirees. Many of the recent residential projects are aimed at this sector. “Seniors represent 65 per cent of the [residential] real estate market here” and the preferf ence is for detached ‘patio homes’,” saidRudi r Widdershoven, a realtor and president of the local chamber of commerce. Three-quarters of new buyers are from outside the region, he said, and about 16 per cent come from Alberta. Prices have fallen. “You can buy waterfront houses starting at $600,000,” Widdershoven said, compared with a base of $900,000 at the tpeak. There are aggressive resort-development plans for the Parksville waterfront working their way through the process. Investors may also take advantage of incentives being offered in Nanaimo. Vancouver Island’s harbour city is offering a downtown building site for $1 for anyone qualified to build a hotel next to the Island Conference Centre. The city’s also offering a 10-year tax holiday for any new hotels built in the core. This on top of a current tax break for those building residential in the old heart of the city. t Generally, Nanaimo’s residential market is
we bought the [Solara] property out of receivership, it’s not as [profitable] as we intended ti to be. What that spells is it’s just a good deal for the consumer right now.” Romanowski expects values to rise as Edmonton and Calgary real estate prices recover, which could also help B.C. vacation properties. The assessed value of the average hotel condo unit in Canmore is down about 16.5 per cent from a year ago according to Frank Watson, a property assessor with Bow Valley Property Valuators. Canmore’s experience is much like some areas of the Okanagan and the West Kootenays: a glut of property when the market nosedived in 2008, with aggressive marketing since then chopping prices down. “Probably 250 units came on just at the wrong time,” noted Watson. “There was an $BONPSF PO TBMF Vacation-condo buyers in Canmore, Alberta’s oversupply.” Yet the upside in Canmore is in most prominent resort market, are also seeing high-priced real estate, headded. much lower prices after a collapse in the overbuilt condo market. 8FBMUIZ MFBE Bellstar Hotels & Resorts bought up all of “Strangely enough, it’s the upper-end houses the unsold units in the luxury Solara Resort ... the $2 million-plus houses in [the exclusive & Spa, where prices were $700 a square foot community of] SilverTip,” Watson said. “They before the project sank into receivership. Now seem to be holding their own.” Bellstar is selling the condos for about half that In contrast, properties valued at less than price in a Rocky Mountain centre that’s close $900,000 have generally fallen in assessed to both Calgary and Banff. value for 2012, he said. “If somebody’s looking to get something This coincides with the experience o f quite exclusive or higher end, this is when they Sotheby’s International Canada, which notes can come in,” said Ed Romanowski, president that higher-priced recreational properties are of Bellstar. He added that most Canmore vaca- apparently leading the spring sales curve. tion condos can now be snapped up for between “We are seeing stronger sales of luxury properties from Saltspring Island to Whistler,” said $250 and $400 per square foot. “It’s certainly not a great time for develop- Ross McCredie, Sotheby’s president and CEO. ers. We’re making substantially less than we McCredie notes the wealthiest buyers now lead made a few years ago,” he said. “Even though the way, as in all real estate recoveries.◆ Stuart Lake for $75,000; or, for the true getaway, 40 acres of lakefront for less than the cost of small condominium in Metro Vancouver. Elaine Kienzle of Doucette Realty, who has listed 26 acres – with road access – on Clueulz Lake about 55 kilometres west of Prince George for $295,000, said there are at least 15 lakefront cottages for sale in the region, with prices around $215,000. In the Kootenays, long a target for Alberta recreational buyers, lower sales and prices are common across the board. Housing sales fell 27 per cent to 159 in the first two months of this year, compared with the first two months of 2011. The average price dropped to $240,097 from $252,698, reports the BC Real Estate Association.
Solara Resort & Spa in Canmore: prices per square foot for luxury condos dropped from the $700 to the $400 range in two years.
coming back to life, agents say. Buyers can find detached houses for under $300,000. Typical condo prices are around $214,000, down 7 per cent from a year ago. Nanaimo has a bustling downtown waterfront, including a new cruise ship terminal.
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In the Cariboo, a soft economy – hit by a downturn in forestry – has mde for some hard bargains for homes and recreational property. You can buy lakefront lots at Burns Lake for less than $30,00; a private 4.5-acre island on
SPROAT LAKE…Your Summer Playground
SPROAT LAKE-TURN-KEY SUMMER RETREAT OR BUILD YOUR DREAM LAKE HOME - $559,000 - 1.3 acre gently sloped to 100’ waterfront - extra large dock with float - deluxe concrete RV pad with power & septic - 16x24 serviced casita with kitchen & bathroom - surrounded by trees and breathtaking views - tan lines will fade but the memories will last forever!
IDEAL FAMILY HOME ON SPROAT LAKE - $869,900 - private gently sloped tree-lined lot, 3100+ sq.ft. home - lush area for lawn games & 80’ sandy beach and large newer dock for water sport activities! - 5 bdrms, 4 baths, open concept kitchen/living areas, rec/games room & bar are ideal for family gatherings or entertaining - this outstanding property would also work well for a waterfront B & B
Lakefront Vacation Homes from $324,900 (Price includes $25,000 spring purchase discount)
Enjoy …
The Maples
Sproat Lake recreation 5 acres of common property 2100 sq. ft. dock Your own boat slip Private beach The Spacious units Large decks
24 new vacation homes One bedroom plus den or Two bedroom Spacious open concept plans Stainless Steel appliances Hardwood and Tile floors Maple Cabinets
Maples on
www.maplesresort.ca
9624 Lakeshore Drive, Port Alberni, BC
DAVE KOSZEGI REALTOR®
of Nanaimo Each Offi ce independently Owned and Operated business / pager 250.723.SOLD (7653) office 250.751.1223 toll free 1.888.246.8695 email dave@midislandhomes.com web midislandhomes.com davekoszegi.com 723sold.com
1-800-661-6988
www.westerninvestor.com
Sproat Lake
sales@maplesresort.ca 250.218.8266
A16 Recreational Real Estate LIFESTYLE PROPERTIES
www.westerninvestor.com MAY 2012WESTERN INVESTOR
SINGLE FAMILY COTTAGES starting from
$334,900
A Selection of Move In Ready Cottages Available this Spring!
Beyond Expectations. So Close to Home. A mere 90-minute drive from downtown Vancouver brings you to The Cottages at Cultus Lake. It feels like a world apart. The lush green forests, breathtaking mountain views, clean fresh air and clear starry nights—it’s the great outdoors right at your doorstep. At the heart of this cottage community are the luxury cottages themselves; craftsman style architecture shared with a West Coast design. They combine homey comfort with rustic charm and feature high cathedral ceilings, open loft spaces, private front porches and spacious back decks providing plenty of space for family and friends to gather and enjoy BC living at its best. With everything you would expect from a cottage in the woods, it will be the place you will come to call your home away from home.
Your family legacy starts here. THE COMMUNITY IS 70% SOLD OUT. NOW PREVIEWING PHASE 3. REGISTER TODAY. PRIORITY VIP CODE: WIPH3 1.877.888.4950 | www.CultusLakeCottages.com Discovery Centre & 3 Display Cottages Open weekends only starting April 21st 1777 Columbia Valley Rd. Lindell Beach, BC Copyright 2012 © | Cultus Country Investments Ltc. This is not an offering for sale. An offering for sale can only be made by disclosure statement and/or prospectus. E.& O.E. Prices are subject to change without prior notice.
Lower Mainland A17
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
PUBS
MAILLARDVILLE HOME
For Sal e
on 33’ x 122’ Lot at 960 Adair Ave. Asking $428,900
Royal LePage Coronation Park
SOUTH OKANAGAN PUB Liquor Store and Building for sale Asking $1,450,000
Sandra Laurino
M1 General Industrial zone allows Industrial Storage and Residential use. Complete the renovation for potential income of $3000/month
Bus: 604.581.3838 Cell: 604.219.7736
Waterfront Pub & Detached Liquor Store
www.sandralaurino.com sandralaurino@royallepage.ca
Land, buildings and business Prince Rupert, BC $2,500,000 BC’s fastest growing super port city
439 Helmcken Street A very unique opportunity to own a 3 story free standing Heritage house in the Heart of downtown Vancouver! Extremely well maintained with approx. 2,100 sq. ft. of high quality office space. The ground floor is an attractive space with open floor plan, above ground windows - lots of natural light, one washroom and two entrances. The second floor features 9’ ceilings, built in coffee area, two private offices, open reception area and boardroom/3rd office with private entrance.
Future development, as described on Coquitlam’s Official Community Plan allows for a residential & commercial development when assembled with lot to east allowing +/- 3 stories, a total potential development of 3.5 X’s the lot size. Good future potential! Call
BILL BABCOCK 604-230-9392 Bbabcock@telus.net
The third floor also has 9’ ceilings, three private offices, one washroom and a north facing sundeck. The building has recently received upgrades to the roof, furnace and hot water tank. This offering includes exclusive use of 2 secure parking stalls in the adjacent Aquilini development as well as convenient metered street parking in front. Only steps away from all the shops, restaurants and services of Yaletown, Granville and Robson. Fantastic location and opportunity!
M E H RAN M O A L L E M 778-8 58 - 9025
B.Elec. Cert. Marketing
Business and Commercial Consultant
mehranmoallem@gmail.com RE/MAX CREST COMMERCIAL DIVISION
P R O P E R T Y
L SO
D R NE ATE OWOTIV M
D
Office space Recently remodeled 760 sq ft, central, parking, spent over $50K Lonsdale N Vancouver $399k
Business with property convenience store 1200 sq ft, great locational, equipment & inventory Vancouver $949k
NT T EA ME GR VEST IN
D CE DU100K E R $ BY
Industrial space 7000sq ft space & land, 2 offices, auto & body shop, Lynmore hoist, paint room $1,998k North Vancouver
Denny’s Great opportunity 5000 sq ft, 12 years, located at busiest shopping centre in the area Greater Vancouver $599k $499k
&
WANTED I HAVE QUALIFIED BUYERS FOR DEVELOPMENT LAND, INCOME PROPERTY COMMERCIAL OR RESIDENTIAL, MONEY MAKING BUSINESS AND FRANCHISE COFFEE SHOP
B U S I N E S S AL
ION FESS PROFICE OF
T R DE AC UNONTR C
Industrial space 1600 sq ft Central location must sell, Rented month to month, make an offer Burnaby $367k ESS TY SINOPER U B PR &
Retail space fully improved 1238 sq ft many uses, ideal for medical, dental or ... Dunbar Vancouver $859k K/ 110
E
ACR
$
LOWER MAINLAND Pub & Liquor Store
Opportunities For Lower Mainland Pub Opportunities call:
JOHN JOHNSON Tel: 604-319-2504 Fax: 604-463-5287 PRUDENTIAL STERLING REALTY LTD.
JOHN JOHNSON
FOR SALE DEVELOPMENT SITE VICTORIA FOR SALE 1.74 ACRE 168 UNITS ...................$12.95M 2 LIQUOR STORES FOR SALE SALES $4M & $2.3M .....CALL FOR DETAILS 2 LIQUOR PRIMARIES DOWNTOWN VANCOUVER PRICED Ν $1.1M & $1.8M TWO 3 ACRE WATERFRONT PROPERTIES IN POWELL RIVER AT THUNDER BAY ESTATES ...................................... FROM $349,000 EACH INDUSTRIAL PROPERTY DELTA, BC IͳI ZONE, 11,680 SF BUILDING ON ½ ACRE ...................................................$1.699M SEYMOUR RESTAURANT FOR SALE 2400 SF .................................................. $480,000 WEST 4TH AVE RESTAURANT FOR SALE 2000 SF ......................................$460,000 WEST 4 AVE RESTAURANT FOR SALE 1800 SF .................................................. $250,000
Industrial retail "with property" 5000 sq ft & woodworking/ cabinet business Port Coquitlam $1.3 Million
38 Acre land Britannia Beach Sea to Sky Highway holding property or build, 45 minutes to Vancouver or Whistler $4.2 million
LASER & ESTHETIC BUSINESS FOR SALE GREAT REVENUE, MINIMAL MANAGEMENT ....................................NEW PRICE $75,000 SUB LEASE 3400 SF 61 WEST 7TH AVE ........................... $11.25/SF + OPERATING
B U S I N E S S E S
T EA E GR COM IN
Indoor Amusement park 7500 sq ft 3 years Great income, spent over $750K. Laser, bump car, ball room and more. Surrey $469k RE OSU FFER ECL FOR KE AN O MA
Outdoor sign MFG 23000 sq ft 22 years, Great opportunity all under 1 roof, digital, neon, letter channel & more. Greater Vancouver $1.2 Million Food Court Business Shopping Mall Greek Food 5 years old Franchise or $129K no Franchise
Alex Yuen (PREC)
Organic Make up MFG $300k net income
Richmond 6000 sq ft
$2.2 Million 18 years
Print Shop Great Opportunity
Greater Van 6000 sq ft
$695k 20 years
Dir: 604.338.1800
Indoor Amusement Park $350k sales $110k net
Surrey 7500 sq ft
$469k 4 years
alex@alexyuen.ca
Franchise restaurant $600k sales, $90k net
Surrey 2600 sq ft
Mill work & Woodworking $500k sales $180k net
North Van 5700 sq ft
Coffee Shop & Crepe $220k sales $85k net
Vancouver 1100 sq ft
Steak House & Lounge Great opportunity
Vancouver 1250 sq ft
$229k 1 year
UBC FOOD Court $300k sales $85k Net
UBC 450 sq ft
$99k 8 years
Mini Market $1500k sales $150k
Coquitlam 2300 sq ft
$299k 3 years
Convenience store $200k sales growing
Vancouver 1200 sq ft
$89k 1 year
Florist 3 years old, great location
North Vancouver
$69K
SOLD
$299k 5 years $300k 4 years
$129k UNDER CONTRACT 12 years
www.Bonded Business Brokers.com
Off: 604.926.6718
marketing your franchise? Call the
1-800-661-6988 (604) 669-8500 westerninvestor.com
A18 Lower Mainland ESTATE SALE - NORTH VAN. Prime 10 suite apt. bldg.
$2,298,000 - Cap Rate 4.35% Gross $123,828 Net Income $100,144. 3371 ChesterďŹ eld Ave. See Video: www.youtube.com/user/johnserdar1/videos JOHN SERDAR 604-889-9338 Amex Broadway West Realty Ltd.
www.westerninvestor.com MAY 2012WESTERN INVESTOR
-0/( 5&3. */7&45.&/5 '03 4"-&
CHILLIWACK AVIATION PARK UNITS FOR SALE/RENT
This property is located in the Fraser Valley and has 2 Triple “A� National Tenants on Long Term Lease. The Main tenant is a Farm Equipment Dealership and the 2nd is a Mini Storage Co. Both have been there for the past few years and planning to stay there for a long time.
5P WJFX $BMM 3BF 'PSFTU
WHEELER CHEAM
FOR INFORMATION CALL: 604-793-5938
Each office is independently owned and operated.
Bridal Falls, BC
15 minutes to CHILLIWACK, and Harrison Hot Springs. This property is located at the Trans Canada Waterslides, Bridal Falls Golf Course, Minter Gardens and across the street from a major RV park. Huge opportunity on this .6 acre property with tremendous highway visibility and frontage. 2 bedroom home and former restaurant on property. Foreclosure price $209,900
Rob Pellegrino NYDA
PERSONAL REAL ESTATE CORPORATION
r 3PCGSPNSFNBY!UFMVT OFU 3PCQFMMFHSJOP DPN WAREHOUSE SPACE FOR LEASE 1) 2100 sq ft Mt Lehman Rd 2) New tilt-up high ceilings, grade & dock loading - 2000-35,000 sq ft available 3) Storage space 100’x35’ $925 / mo FOR SALE 1) 2100 sq ft Strata Warehouse $270,000 RETAIL FOR LEASE 1) Professional OfďŹ ce on McCallum Medical corridor, main oor. 1) 2000 sq ft prime retail SFW
JOHN KLASSEN BILL BARTLEMAN Cell# 604-309-7632 Cell# 604-857-3409 or 604-859-2341 endwest2@uniserve.com #9 2630 Bourquin W.Abbotsford
Oak Realty
FOR SALE OR LEASE
Franchise Opportunity
LAND & BUILDING
Blenz Master Franchise in Vancouver, Vancouver Island, Ontario & Alberta Blenz Franchises ......... $139,900, $188K, $297,800 - $488,800
2%$5#%$ TO $2,800,000 &AMILY /WNED -ECHANICAL 3HOP )N OPERATION SINCE
Steamrollers Franchise Available Steamrollers Franchise Vancouver.$319K (Davie St.)
s s s s s
BAYS PLUS HOISTS ,IVING ACCOMMODATIONS ABOVE THE OFlCE /WNER WILL STAY ON TO TRAIN (IGH TRAFlC LOCATION / ! # /WNER lNANCING
Bill Parsons
604-590-4888
RE/MAX PERFORMANCE
wparsons@shaw.ca
www.remax-performance.com
WHOLESALE BUSINESS VANCOUVER, over 35 years in operation, good location, handling many exclusive products. $48,000 plus stock RESTAURANT, 27 years in business. Building, land and equipment included $800,000
Wired Monk Individual Franchise Opportunity Wired Monk ......................................... $99K, $160K, Wired Monk New Franchises - Vancouver ................................ $262K-$350K depending on location Sandwich Tree master franchise opportunity $235K Casa Del Sole CafĂŠ...............................................$160,000
www.matthewmoadebi.com www.vancouverfranchise.ca
Matthew Moadebi 604-329-6771 (Cell) m.m7430@gmail.com
RESTAURANT BUSINESS C H I L L I WA C K , B C
MOTEL 30 rooms well established, good location, building in excellent condition. $1,165,000 GAS STATION, building land equipment included, all updated 3.5 ac land 5 legal lots. Additional buildings on the properties. $1,288,000 Please call
RICHARD PODGURSKI
RE/MAX Masters Realty
Cell: 604-961-5665 richard@expertrealty.ca www.expertrealty.ca
DE V E LOP M E N T / I N V E S T M E N T PROPE R T Y Sumac Ridge Golf & Country Club Summerland, BC s :ONING POTENTIAL FOR A SINGLE FAMILY HOME SUBDIVISION WITH LAKEVIEWS s %XTENSIVE RECREATIONAL COMPONENT PROPOSED FOR RESIDENCES s ž ACRES INCLUDES LEVEL WOOD FRAME CLUBHOUSE AND RESIDENCES s /PERATE AS A GOLF COURSE UNTIL DEVELOPMENT PLANS ARE IN PLACE
Rare opportunity! First time offered, Owners retiring after 22 years! This 120+ seat restaurant is truly one of Chilliwack's most respected & renowned family dining destinations. Iconic visual exposure in the heart of town w/ no franchise fees. Well established w/reasonable lease rate makes this turn-key operation perfect for a family-run venture or the budding entrepreneur.
Bring your ideas & dreams and call Janet Kirkpatrick today for details.
JANET KIRKPATRICK T F: 1-800-830-7175 Tel: 604-858-7179 Fax: 604 858 7197
RE/MAX NYDA REALTY
SORRY, YOUR AD IS MISSING... COMMERCIAL REAL ESTATE, FRANCHISES & BUSINESS OPPORTUNITIES IN WESTERN CANADA
For advertising information call 604-669-8500 or 1-800-661-6988 toll free anywhere in Canada or the USA.
Each office is independently owned and operated.
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
Lower Mainland A19
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A20 Lower Mainland
www.westerninvestor.com MAY 2012 WESTERN INVESTOR
LORNE CHERNOCHAN 604-880-0550 (cell) lorne@chernochan.com www.chernochan.com
Individual Strata Units For Sale at West Lynden Storage Condos
CALL OR EMAIL FOR A FULL INFO. SET
Available just 6.4 km south of the CAN/US Border!
INVESTMENT ACREAGES 3 adjoining parcels with income 777 feet frontage on 2 streets ADJOINS INDUSTRIAL + GOLF + BUSINESSES BEST PRICE IN ALL RICHMOND!! $170,000 PER ACRE AVERAGE! $125,000 per acre for the 36 ACRES !! $500,000 per acre for the 2.5 ACRE PARCELS !!
Strata unit complex perfect for RV Storage Sizes starting at 16’x45’ on up to 1777sq ft
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COMPLEX FEATURES UÊ > Ì> i`Ê À Õ `Ã
Prices Starting at
$65,000
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HOUSE ON SUBDIVIDABLE LAND ZONED for 2 LOTS IN RICHMOND SOME OFFSITES DONE CURRENT INCOME = $26,000 + /YEAR $1,000,000
CORNER HWY 17 & 56 ST UʣǰÇnÊ VÀià UÊ Ài>ÌÊ ` }Ê*À «iÀÌÞ UÊf£] xä]äää UÊ*ÀiÃi Ì ÞÊ Ê ° °,° UÊ -®Ê6 Ó{ xn
Bruce LawrieÊ 604-575-5262 i viÊ i V >À Ê/ ÌÕÃÊ,i> ÌÞ
North Battleford, SK – 60 pads, 10.9 ac .2,700,000 Invermere, BC – 31.48 acres, MHP site. 1,900,000 Radium, BC – 9.77 acres, Cml Hwy Frtg ....900,000 Cherryville, BC – 25 pads, 22 acres ..........685,000 Ashcroft, BC – 8 pads, 0.64 acres ..............299,000
DON MUNRO (604) 817-7338
5 GAS STATIONS WITH LAND & BUILDINGS FRASER VALLEY, over ½ acre land, 4500 sq.ft. building, 2 road frontage, fiber glass tanks, 4 dispensers, lots of parking, good gross and net income. Price $2.9Mil FRASER VALLEY, gas station, c-store, 5 dispensers with chip system, high volume u/g fiber glass tanks. Busy road, over 3 million liters gas sales and over $3000 daily c-store sales. Only $1.99 Mil FRASER VALLEY, gas station, 6 dispensers, brand new with chip system, high volume underground f/g tanks, electronically monitored, 4 million liters gas volume, $3000 daily c-store sales plus propane sales. Excellent gross and net income $2.99Mil
GAS STATION with land and building, over 3 million liters gas and over $1.5 million c-store sales. Priced at $2.4 Mil UPPER FRASER VALLEY, over 8 acres land, gas station, land and building, c-store, house restaurant, all in one price at $1.1 Mil DUPLEX
LOT
in Aldergrove. Priced at only $449,000
OVER 7 ACRES VINEYARD with 12 year old house in Osoyoos. Price $1.3 Mil FOR MORE DETAILS CALL OR VISIT MY WEBSITE:
Homelife Glenayre Realty www.mobileparks.com
DICK VANDENBERG (360) 393-2414
ÊÊÊ ÌÀ i`Ê >Ìi UÊÓ{Ê ÕÀÊ VViÃÃ
2305 Leatherwood Dr - Lynden, WA 98264 6 Ã ÌÊ ÕÀÊÜiLÃ ÌiÊv ÀÊ>Ê6 ÀÌÕ> Ê/ ÕÀtÊÊÊÊUÊÊÊÊÊÊwww.westlyndenstoragecondos.com
Houston, BC – MH & RV Park, 40 ac+/- ....299,000 604-302-3771 or TF: 1-888-251-2822 Fax: 1-888-804-1394 Email: hjesse@mobileparks.com
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FRASER VALLEY, Gas station, c-store, deli, living accommodation, ½ acre land $599,000
Golden, BC – 101 pads, 13 acres ...........5,900,000
UÊ,6Ê Õ «Ê- ÌiÊEÊ*Ài«Ê Ài>
Best Value in the Area!
Contact Us Today to set up a viewing!
WESTCOAST
SOUTH DELTA
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RICHMOND INDUSTRIAL STRATA WAREHOUSE FOR SALE or FOR LEASE $388,000 TO BUY or LOW RATE GROSS LEASE 1,997 sf = 1,227 sf warehouse with GRADE load + 750 sf ground floor offices with separate entrance. Newer building in on high exposure street in East Richmond
UNITS FEATURE
LIQUOR STORES, PUBS, HOTELS/MOTELS NANAIMO ROAD HOUSE & LIQUOR STORE – OFFERS! 2½ acres. Land & buildings. Asset sale. Includes 2 suites. VENDOR FINANCING 0.A.C. – $925,000 CAMPBELL RIVER WATERFRONT PUB & LIQUOR STORE GROSSING $3.3 MILLION. IN BUSY SHOPPING CENTRE. ASKING $1,600,000 FOR SHARES. QUICK POSSESION. CHILLIWACK PUB & LIQUOR STORE – $2,495,000
3 LIQUOR STORES AVAILABLE 3 LIQUOR STORES IN LOWER MAINLAND AVAILABLE PUB IN BUSY SHOPPING CENTRE LOCATED IN SURREY PRICED BELOW REPLACEMENT COST. GREAT TERMS. QUICK POSSESSION. TRY YOUR OFFER!
SURREY PUB & NEW 4000 Sq Ft LIQUOR STORE. Land & Bldgs. Plus commercial rental income. $4,250,000 NEIGHBOURHOOD LIQUOR STORES - PUBS - HOTELS - RESTAURANTS IF WE DON’T HAVE IT LISTED WE WILL FIND IT FOR YOU! MANY NEIGHBORHOOD PUBS IN ALL PRICE RANGES NOW AVAILABLE.
PAMMI MANDAIR CELL: 604-825-8121 OFFICE: 604-859-3141 pammimandair@gmail.com www.pammimandair.ca
BARRY BOCK / DON KAYTOR 604-575-5262
604-599-9287
Fax (604) 575-2214 Email: barry_bock@telus.net GLENAYRE REALTY
HOMELIFE BENCHMARK TITUS REALTY
www.barrybock.com
www.homelifebc.com
A21
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
%
From: HQ Realty Ltd., Vancouver. HQ agents Mark and David Goodman report the following sales: Deal: 22-suite rental apartment building, Marpole area of Vancouver. Price: $3.85 million. Deal: 35-suite rental strata apartment building, 56th Avenue, Langley. Price $5.4 million. Deal: 23-suite rental apartment building, 119th Avenue, Maple Ridge. Price: $1.72 million. Deal: 24-suite rental apartment building, a block from the ocean, Nanaimo. Price: $2.07 million.
From: Homelife Commercial Division, Surrey. Homelife agents Barry Bock and Don Kaytor report the following sales: Deal: 65-seat Kelly’s Pub and Liquor Store, King George Highway, Surrey. Share sale. Price: $2 million Deal: Fox’s Reach Pub and Liquor Store, Maple Ridge. Asset sale. Price: $3.4 million. From: Dawson Creek Real Estate, Dawson Creek. Dawson Creek agents Tom Moran and Lloyd Smith report the following transaction: Deal: 3,500-square-foot retail space, 102nd Avenue, Dawson Creek. Price: $119,900.
From: Re/Max Commercial Centre City Realty, Prince George. Re/Max agents George Weinand and Ken Goss report the following sales: Deal: 127.88 acres of prime, serviced develFrom Avison Young, Vancouver. Avison opment land, zoned for 146 single-family lots Young agent Bal Atwal reports the follow- and RM-3 multi-family, plus future development under the Official Community Plan, ing sale: Deal: 52,000 square feet of land designated Prince George. Price: $445,000. high-density, mixed-use, near Richmond Deal: 0.6-acre industrial lot, Prince George. Centre Mall. Price: $11.75 million. Price: $275,000.
From: Target Realty Corp., Calgary. Target associate broker Keith Armstrong with associate Reg Power sold the following: Deal: 5,950-square-foot industrial building on 0.56 acres in Calgary. Sold forKeen Edge Sharpening Service Ltd. to Mikkelsen’s Auto Inc. Price: $1.17 million. From: Monark Investments Ltd., Surrey. Monark agent Kiran Singh reports the following sale: Deal: 2.9 acres comprising two parcels at 36th Street and 16th Avenue in South Surrey. 35-suite strata apartment building, Sold to Koco Real Estate Development. Langley, sold for $5.4 million. Price: $4.3 million. From: Dundee Real Estate Investment Trust, Toronto. Dundee reports the following transaction: Deal: Dundee REIT has purchased Whiterock REIT, which holds real estate in Saskatchewan and Ontario. Price: $608 million. Recently completed a major commercial real estate deal in Western Canada? Send details for a free report here to: wieditor@ biv.com.
Photo: HQ Realty
one Deals is our monthly feature highlighting some of the major real estate transactions completed recently in Western Canada’s vibrant commercial real estate market.
Our readers report on recent commercial real estate deals across Western Canada
Photo: HQ Realty
%0/& %&"-4
22-suite apartment building, Vancouver, sold for $3.85 million.
-PXFS .BJOMBOE
Lindsey Gauthier
NEED NOW!!!
BUY IN CHILLIWACK
$3 - $15 MILLION SHOPPING CENTRES
NOW IS THE TIME!
Personal Real Estate Corporation lgauthier@sutton.com
604-798-2977 GREAT
SS!
Priced to Sell!!
AUTO RECYCLER BUSINESS Gold class certifi ed ................Auto recyclers for sale here is the opportunity to own one of the fastest growing in the greater lower mainland. very rare and hard to fi nd a well established turn key auto recyclers that been in business for over 25 years ! Time has come to retire ! Large inventory of high end salvage and a customer data base of over 3000 customers you will recieve all inventory building,racking. $2,200,000 Exclusive Listing
MECHANIC SHOP Business, Building & Land
Car Deale
Locatiorsnhip !
BUSINE
DAKOTAS – Approx. 4 years old 45955 & 45961 Yale Rd. Body Building 11,992 sq.ft. Land 1.001 Acres GREAT FOR CAR LOT! 5 Bays, Showroom, offi ces, Great Exposure with lots of parking in this area of town. So much potential with this property, to many to list. The lots are zoned CS1(Service Commercial). Call Lindsey for additional info 604-798-2977 $1,850,000 Exclusive Listing
Going Concern in busy Shopping Center with Safeway, Liquor Store, HSBC, & Envision Bank. This Restaurant is gorgeous! 5,605 leasable space. Includes all chattels. Over $800,000 in tenant improvements. If you are looking for a restaurant this has EXCELLENT VALUE. Good customer base, asset sale only, you would never be able to build this restaurant for anywhere near this price. $199,000 MLS® H3100137
Established Automotive Shop Business, Land & Building for sale in busy area of Chilliwack. Great Clientele, Superior Location, and Fantastic Exposure. This is a great investment, and a great Business to take over. This is a money making deal. C2 Zoning! This is a large Freestanding Building with 7 Bays, Modern Clean Building with tons of parking. The building is over 5,000 square feet with 2 fl oors. Call Lindsey for more information. $1,650,000 Exclusive Listing.
RESTAURANT Business, Building & Land 70-75 seat restaurant with Building and Land. Extensive renovations to keep the dining room and patio updated. This casual dining restaurant is a town favorite and has been successful for years. This is a great investment or business opportunity. Great Deal. $569,000.00 Exclusive
ISTING L W E N
CED
REDU
CROSS COUNTRY GROCERY Building and Land includes 2 Businesses. Store is excellent for mom and pop or family operation, well established clientele, very clean business. Business includes Grocery Store, Gym, Tanning and bare lot. 2 titles to the property, and the business! Awesome Deal! Call for Complete Details, and package. $569,000 MLS® H3100373
HOTEL/PUB/ APARTMENT HOUSE 3 titled properties: 50865, 50875 & 50885 Trans Canada Hwy, Boston Bar. 10 unit Motel, Apartments, Residence, House keeping units, Pub & Restaurant with on-site manager residence, all with a stunning view overlooking the river. This is a beautiful area with mountains and several small creeks all around. This is a great income investment!!!!! Call Lindsey for additional information. $890,000 MLS H3120089
3 STRATA UNITS AVAILABLE Strip Mall on the busiest street in Chilliwack - completely renovated w/ new addition & façade. Excellent traffi c count, great exposure & visibility from road. 78 surface parking stalls w/ mall access from Yale Road. 3 sizes available, 5,866 & 5,802 & 1553 sq.ft. or purchase the whole building. $3,950,000 Call Lindsay for pricing on single units 604-798-2977
CLEVELAND Just collect the rent on this 3 bedroom, and 4 one bedroom apartment. The building is close to bus routes, and all the amenities. It is a 2 story multifamily apartment with a full unfi nished basement. Parking located in the back of the building, and the building has lots of updates. This is a must see property, and a great investment for the experience or new investor. MLS® H3100371 $459,000
FOR SALE LAND ONLY 7870 ENTERPRISE WAY Just Collect the Rent!!! Building approx. 5 years old, 12,566 sqft Building, 31,279 sqft Lot. Busy industrial area of Chilliwack close to the new Eagle Landing and Hwy exposure. Well maintained. PRICED TO SELL! HARD TO FIND PROPERTY!!! $2,125,000 Exclusive Listing
8989 CHARLES STREET M2 ZONING 1.58 Acres of M2 zoned property, best suited for industry and industrial sales activity. House already on the property which is perfect for a rental income or offi ce for your business. Prime area with lots of room to build. Possibilities are endless with this property with road frontage, rail spur, and located in town. MLS® H3120026 $1,250,000
8424 AITKEN ROAD Rare fi nd!!! 14.685 Acres of undeveloped land, next to the railway tracks. Good access to Trans Canada Highway #1. The zoning is currently M4 (Heavy Industrial Zoning) - allows for Warehousing, Heavy Industrial, Storage & much more. Municipal water & sanitary services are at the road, fl exible zoning. Strong development activity around Highway 1 Business Park, Progress Way Business Park and Cattermole Industrial Estates. $3,600,000 Exclusive Listing
Lindsey Gauthier Personal Real Estate Corp.
44703 YALE RD/44698 CHALMER PLACE M2 ZONING 1.66 acres in 2 titles, zoned M2 (Service Industrial) in absolutely prime location. Highway 1 exposure, access of Yale Rd. or Chalmer Place (cul-de-sac). Set in the heart of the Industrial area with easy access to the City and national transportation routes. Zoning allows for wide variety of uses including warehousing, light manufacturing, food processing, sales, and more. Can be sold separately. MLS® H3100190 $1,799,900
GauthierTeam.com
showplace realty ltd.
A22 Lower Mainland
www.westerninvestor.com MAY 2012WESTERN INVESTOR
WESTERN CANADA’S GUIDE TO COMMERCIAL REAL ESTATE, FRANCHISES AND BUSINESS OPPORTUNITIES
Marketing commercial real estate in Western Canada. In Print. On Line. JUNE ISSUE: AD DEADLINE MAY 14 Report: Motel/Hotel Market U.S. commercial real estate Waterfront deals Franchise News Lifestyle Properties Regional Roundups: BC: Cariboo region AB: Grande Prairie MB: Brandon Spotlight: Belle Plaine, SK
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Lower Mainland/ Sea to Sky/Sunshine Coast A23
WESTERN INVESTOR MAY 2012
SUNSHINE COAST – 4 PLEX
TWO COMMERCIAL BUILDINGS SIDE X SIDE ML#V4021517 “The Dock� Sechelt Now $1,190,000 Main street, downtown location with excellent exposure in Sechelt. 2 level building with retail, store, offices and zoned for residential above. High traffic area with lots of parking. 10 tenancies in place, many long term and great cap rate. Call Terry for more info.
ML#V4024655 Main Street, Sechelt
Investors take note! Solid 20 year old 4800 square ft building with two 3 bdrm suites and two 1 bdrm suites is located in upper Gibsons close to ferry, shops, schools and rec center and just one hour from Downtown Vancouver. Full details available.
$879,000
Commercial building with two excellent tenants. Prime location on main street with upgrades & high visual presents. Triple net leases & good cap. Located beside building above.
Grossing 49K - 7% Cap Rate Asking price: $625,000
TERRY & PAM BRA CKETT
Neil Sandy Cell 604-989-6345 neilsandy@dccnet.com, RE/MAX Top 20
1-800-895-4313 terry@thebrackettgroup.com Remax Oceanview Realty SECHELT
www.neilsandy.com
SQUAMISH INVESTMENTS 98 Unit Oceanfront Dev. Site $2.94 mil 13.25 acre Commercial Site on Hwy 99 Holding income campground/motel $1.95 mil 18,919 SF Dev Site Dwtn Bank Corner at key intersection $1.194 mil Mixed Use Building Dwtn 5,358 sf, lots of pkg $725k 0.54 acre Retail Site Backing on 3 Malls $1.999 Mil 0.84 acre Multi Family Site In built neighborhood $925k
Strata OfďŹ ce Space Dwtn 1,714 sf
$345k
Strata OfďŹ ce Garibaldi 548 sf
$169k
Industrial Revenue Property 10 acre Riverfront Lots
$1.1 mil $1.175 mil +
Retail for Lease off Hwy 99 1,300-10,000 SF Adjacent to Home Depot, Walmart & Rona Commercial Site on Hwy 99 $1.65 mil C-3 gateway site: DP for 82 unit hotel, Zoning for: drive-thru, gas, restaurant
Darren McCartney 604-892-4875 darren.mc@shaw.ca
RE/MAX Sea to Sky Real Estate Squamish
PRIVATE ISLANDS
Department Stores
AND
RETAIL LEASES AVAILABLE
LAKEFRONT ACRES FROM
$495,000
Sizes Range from 5,929+ SF to 14,000+ SF
Please Contact Local Brokers:
VIEW BCPRIVATEISLANDS.COM
Alberta (10 sites) & British Columbia (12 sites)
WARK REALTY INC.
604.946.8710
Dan Clark, Sitings Realty Ltd. / 604-628-2577
COMMERCIAL FOR SALE WHISTLER VILLAGE
Manitoba (2 sites) All Storesg! Closin
.HQ <HH &XVKPDQ :DNHÂż HOG 204-934-6222
6963 SQ FT – 6 strata lots
$6,500,000
Ontario (10 sites) Chris Tarrant, Oberfeld Snowcap / 416-849-9401
Saskatchewan (2 sites) Ryan Babey, Colliers International / 306-789-8300
GA Keen Realty Advisors P: 646-381-9222
Great investment opportunity to purchase 6 contiguous commercial strata lots in the Tyndall Stone Lodge across from the new Olympic Plaza. This area has seen a dramatic increase in pedestrian trafďŹ c since the Olympics. These units are fully leased to 4 quality tenants.
www.greatamerican.com/keen
Ray Veenbaas LITTLE OAK REALTY 604 309 0257
Alan Jenner 604-905-9589
Call for an information package For more commercial listings and information on the commercial market in Whistler visit:
allanjenner@wrec.com
www.whistlerrealtor.co or www.allanjenner.com
Call Ray or Richard for all of your Real Estate Needs! email us at richardtherealtor@hotmail.com
"All ofďŹ ces independently owned and operated"
1-800-668-8661
RichardRiemersma 604 309 8541
RESIDENTIAL, COMMERCIAL, INVESTMENT & AGRICULTURE
INVESTMENT & REVENUE
Little Oak Realty
FEATURED PROPERTY
BUSINESS OPPORTUNITIES
NEW WESTMINSTER STRATA OFFICES Near Royal Columbian Hospital Showing $32,000/Annual Net Income/yr. Asking $636,000
B.C's Best Hotel Deal!!!
State of the Art Restaurant Steakhouse & Indian Buffet Great Lease $225,000
MULTI-TENANT OFFICE BUILDING 12 TENANTS, STABLE INCOME Asking $988,000
33 ROOMS, RESTAURANT
& PUB
Thai Restaurant – Most popular in town $188,888 Franchise Restaurant (Comes with a 12,000 sq. ft. Banquet Facility) $389,000
STAND-ALONE RESTAURANT Building with proďŹ table Asian Food tenant. Completely updated Asking $799,000
DEVELOPMENT SITE
SMALL WAREHOUSES
MULTI-TENANT BUILDING WITH 11 TENANTS Yielding $120,000 Fully Net Income Asking $2,425,000
98 UNIT MULTI-FAMILY SITE Close to shopping centres, hospital, recreation and lake side walking trails Asking $2,900,000
730 sq. ft. (secure, gated) $119,900 1063 sq. ft. + 450 sf mezz. $179,900 2,000 sq. ft suitable for growing medical marijuana $224,900
$699,000
TF 1-800-668-8661
Full Service Catering Kitchen/Building w/ Industrial cafĂŠ/ all equip $599,000
#9–2630 Bourquin W., Abbotsford
"EACH OFFICE INDEPENDENTLY OWNED & OPERATED"
A24 Lower Mainland/Vancouver Island
www.westerninvestor.com MAY 2012 WESTERN INVESTOR
Business Is Better On Vancouver Island
EJ7 G:HI6JG6CI BUSINESS $699,900 First time offered for sale. High traffic location in Surrey. Established 10 year history! 220 seating capacity. Dual Liquor License! Sale price includes up to $300K for buyer to make state of the art improvements to premises. A fantastic opportunity! CALL
CLIFF ARMSTRONG at 604-538-8888
TODAY FOR DETAILS. Sutton Group – Express Realty
For Sale 2.05 Acre Prime Development Site - North Nanaimo
$2,900,000
On Old Island Highway adjacent to Long Lake.
Light Industrial Land and Buildings - Chemainus
$1,995,000
3.83 acres with 5 buildings on site.
253 Acre Development Property - Sproat Lake Area
$1,700,000
Commercial Land and Building - Downtown Parksville
$1,495,000
0.85 acre with 3,870 sq ft building on Island Highway.
3.79 Acre Light Industrial Land - South Nanaimo
$1,395,000
Suitable for single or multiple users/uses and subdividable.
Strata Commercial Unit - Central Nanaimo
NANAIMO
| VANCOUVER
ISLAND
DEVELOPMENT AND INVESTMENT OPPORTUNITIES DEVELOPMENT OPPORTUNITY WITH OCEAN AND CITY VIEWS Upscale development in the University area for 10 residential lots and 26 luxury townhomes. This development project has all the necessary plans, reports and approvals in place. Development Permit for construction can commence within a short period of time. CALL DARWIN NEW!! BARSBY ON THE MILLSTONE A great development opportunity for a well designed 58 unit Condominium Project on 1.14 acres of land on the Millstone River. Located within the no DCC zone of the City of Nanaimo, this project offers an immediate connection to the E&N trail as well as the miles of seawall on the Harbour only 3 blocks away. Development Permit ready. ASKING 1.55 M, CALL DARWIN MULTI – USE DEVELOPMENT SITE One of the remaining development sites within the main service corridor of the Chase River neighbourhood – South Nanaimo. With approx. 4.3 acres of usable lands and excellent access directly off Hwy 19A via traffic light. This site has excellent potential for a wide use of mixed Commercial-Residential developments. 2.8M, CALL DARWIN
EXCELLENT REDEVELOPMENT PROPERTY W/ EXISITNG MOTEL Enjoy the existing holding income from the current motel complex while planning a new 6 storey commercial/ residential mixed use complex. Great location near Hospital Node where demand exceeds supply for strata medical offices. Excellent exposure to Highway 19A and great access from rear of property with easy design for underground parking. 1.5M CALL DARWIN
BUSINESS OPPORTUNITY AT THE RESORT BEACH CLUB – PARKSVILLE B.C. “Perfectly Positioned Spa” in the Newest 4 Star Hotel Resort in Parksville B.C. A turnkey operation, elegantly designed treatment room, the latest equipment and spa line products, topped off with an unbelievable LEASE. CALL BILL SOREG for Details. PA R K V I L L E C O M M E R C I A L Great Opportunity for Office or Medical use - in older home on corner lot in great area. Priced to sell!
COMMERCIAL HARBOUR REALTY LTD VANCOUVER ISLANDS LEADER s ,AND 5SES s $EVELOPMENT )NITIATIVES THROUGH to completion s 0ROTECTS AND -ARKETING s )NVESTMENT s )NSOLVENCY s 2EAL %STATE !DVISORS
METRO VANCOUVER INDUSTRIAL BUILDING CLOSE TO CITY CENTRE Located in close proximity to downtown Vancouver and Commercial Drive. Older industrial building on 5,808 sq. ft. of land. Building fully occupies site. Grade level loading door, separate entrance door. Two offices, one half bathroom, great for a storage facility. Priced @ $795,000. CALL ROB
Lakefront Pub and Land - Lake Cowichan
$
674,000
Approximately $300,000 spent on improvements since February 2009.
3.46 Acre Light Industrial Property - South Nanaimo
$ 549,000
Residential Development Property - Nanaimo
$ 479,000
4.88 acre property near the Nanaimo Parkway.
Commercial Land and Building on Island Highway - Campbell River
$ 419,000
Vacant 0.92 acre property.
Commercial Land and Building Zoned DT-2 - Nanaimo
$ 395,000
1,395 sq ft office building in Old City Quarter.
Commercial Property Zoned COR-3 - Nanaimo
$ 325,000
2 lots on Kerrisdale Road totaling 19,600 sq ft.
Character Office Building - Nanaimo
$ 279,000
Commercial Property Zoned COR-3 - Nanaimo
$ 260,000
9,800 sq ft lot with 1,037 sq ft office off Bowen Road.
Hangar Building and Office - Campbell River Regional Airport
$ 249,000
Light Industrial Strata Unit - Nanaimo
$ 219,000
Approximately 1,315 sq ft unit new and unused for your business.
Light Industrial Strata Unit - Central Nanaimo
Call for Details
Large warehouse with appointed office space.
Featured Listings
Robert Borden
Heavy Industrial Property
250.760.1066
Offered for sale at $2,775,000
Information brochure available.
❏ Two years ............ $75
Located at Duke Point in Nanaimo this 5 acre site is paved and fenced and includes an approximately 18,000 sq ft building.
Offered for sale at $2,000,000 Approved for a Complex Care Facility - Ladysmith $ 1,700,000 5 acres of oceanfront with plans in place for a 24 unit facility.
Saratoga Beach Golf Course - Black Creek
$ 1,419,000
37.47 acre redevelopment property with executive style golf course under foreclosure.
Unique Commercial Offering - Downtown Nanaimo
$ 1,375,000
5,500 sq ft warehouse/shop, 1,400 sq ft house and parking lot.
Green Rock Industrial Park 9,710 to 59,376 sq ft $199,000 to $834,000
24 Light Industrial Lots in prime Nanaimo Location Excellent highway access and “Green” construction.
Business Opportunities
Name
Company
GST Registration No. 10565567 GST Included
$ 695,000
2 legal lots on Victoria Crescent with 4,900 sq ft building.
Darwin Mahlum
Title
❏ Visa ❏ American Express ❏ MasterCard ❏ Cheque enclosed
Commercial Re-Development Property - Downtown Nanaimo
Located in Coombs, this 18.81 acre site on the Alberni Hwy includes a mobile home park and commercial lease revenue. Well priced at an 8% cap rate.
❏ One Year ............. $42
Bill my:
$ 795,000
1.2 acres with CC-1 zoning beside Nanaimo Parkway.
Investment Property
OVER $2.5 BILLION WORTH OF INVESTMENT OPPORTUNITIES EVERY MONTH
❏ Three years ....... $105
Commercial Development Property - Nanaimo
950 sq ft, high traffic area. Corner lot, 4,050 sq ft, zoned DT-8.
Subscribe FIRST CLASS DELIVERY
$ 849,000
4,417 sq ft office with 12 offices, boardroom, reception and lunchroom.
Address
SEWING MACHINE AND QUILTING RETAIL BUSINESS—Nanaimo
$ 180,000
FRANCHISED FAMILY RESTAURANT—Ladysmith
$ 189,000
AWARD-WINNING KITCHEN AND BATH BUSINESS—Sidney
$ 199,000
ESTABLISHED PLUMBING AND HEATING BUSINESS—Nanaimo
$ 225,000
JUMPING JIMINY’S PLAYLAND AND CAFÉ—Nanaimo Well known children’s entertainment business
$ 399,000
City
Prov
Postal code
WHOLESALE DISTRIBUTOR BUSINESS ONLY—West Coast Vancouver Island
$ 549,000
Phone
Fax
ESTABLISHED PLUMBING AND HEATING BUSINESS—Nanaimo On 7,560 sq ft lot with 1,300 sq ft building
$ 550,000
Credit Card No.
Expiry
Signature
RETAIL BUSINESS & DEMOLITION CONTRACTOR—Central Vancouver Island New and used building materials
$ 775,000
WHOLESALE DISTRIBUTOR—West Coast Vancouver Island On 1.039 acres with 7,320 sq ft building
$1,295,000
LIQUOR STORE IN LEASED PREMISES—South Vancouver Island
$1,500,000
PUB AND LIQUOR STORE—Coombs
$1,900,000
FRANCHISED MOVING AND STORAGE CO.—Central Vancouver Island
$2,550,000
LIQUOR STORE WITH LAND AND BUILDINGS—Port Alberni With Commercial Tenant
$2,900,000
FAX BACK TO 604-669-2154 OR CALL 1-800-661-6988
$42 could make you millions!
Gerry Van Vaals Personal Real Estate Corporation DTZ Barnicke Nanaimo Ltd. gerry.vanvaals@dtzbarnicke.com
Tel: 1 800 769 5757
www.dtznanaimo.com
A25
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
SPOTLIGHT Despite white elephants, Island city’s economy thunders on with tourism and mining plays
$BNQCFMM 3JWFS WI STAFF
$BNQCFMM 3JWFS # $ Photo: RiverCorp
WESTERN INVESTOR
Population 31,000 Average house price $270,000 hite elephants – a shuttered pulp mill and a failed cruise Unemployment rate 12 per cent ship terminal – bookmark the Potential Mining, tourism Discovery Pier a popular spot in Campbell Vancouver Island city of Campbell River, Web page www.rivercorp.ca River: “A beautiful place to live.� but mining and hydro upgrades mean the economy keeps thundering on. hoping to salvage large water tanks for use in lier, reports the Vancouver Island Real Estate
8
Last month, a scrap-metal contractor and potential businesspeople were picking over the bones of the former Elk Falls pulp mill, once a major employer that was permanently shut down by Catalyst Corp. On the downtown waterfront all that remains of a $16 million publicly funded cruise-ship terminal built for the Campbell River Indian Band in 2007 is an empty dock and an abandoned market. The last cruise ship to visit was in 2009, the only ship to arrive that year. The Elk Falls pulp mill was temporarily closed in 2008 and shut down two years later. Richmond-based Catalyst sought creditor protection this January after its creditors rejected a plan to cover its $645 million debt. Among those sifting through the mill site was a group
an aquaculture play. Still, this city of 31,000, long known as the “Salmon Capital of the World,� is far from an economic basket case. Last month, crews were demolishing old downtown stores to make way for a low-rise office building for Seymour Pacific and Broadstreet Properties. Just south of town, a new 36-unit oceanview condominium development is underway, and local realtors say the sluggish resale housing market has suddenly come to life. At an average price of $280,000, Campbell River house prices are lower than in the Comox Valley ($344,000) or Nanaimo ($349,800) and are down about 20 per cent from the peak three years ago. March home sales in Campbell River were up a startling 31 per cent from a year ear-
Board. The reason for the sharp sales spike could be a return of consumer confidence. Fuelling this is a $1.35 billion BC Hydro replacement of the local 65-year-old Jim Hart Generating Station.
$PBM NJOF BOE NPSF
BC Hydro expects to award a construction contract by next summer and have the first new generating unit running by 2017, with the project complete in 2018. Construction would create 400 jobs annually for five years and Campbell River Mayor Walter Jakeway says they are needed in a community with an estimated unemployment rate of more than 12 per cent.
More jobs could be generated after the controversial Quinsam coal mine, just 20 kilometres from downtown Campbell River, had an extension of its mining operations approved in January. The project, which has seen protests from local environmentalists, could still face a review from the Canadian Environmental Assessment Agency pending completion of a review by Fisheries and Oceans Canada. The original mine’s been in operation since 1986. David Turnbull, CEO of Hillborough Resources, which operates the mine, pledged the company would “exceed all regulatory requirements and protect key local environmental values.� The only underground coal mine in B.C., Quinsam has reserves of about 40 million tonnes of coal and employs more than 140 people. Meanwhile, the Myra Falls copper-gold-silver mine, owned by Swiss-based giantNyrstar, is running full tilt in a provincial park about 90 kilometres from Campbell River. In operation for 45 years, the mine employs 282 people. In all, the fortunes of Campbell River are looking up, said veteran realtor Roy Grant of Coast Realty Ltd., adding the salmon fishing is still world-class and the city, close to Mount Washington’s ski slopes, offers excellent golf and boating. “It is just a beautiful place to live.�◆
7BODPVWFS *TMBOE #VTJOFTT 0QQPSUVOJUJFT WATERFRONT RESORT & MARINA IN UCLUELET The Island West Resort, offered by way of Court Order, is located directly on the waterfront in Ucluelet. The property includes a 19-room motel, camping sites, an 84-slip marina, the Eagle’s Nest Pub, a marine services shop and rental lodge. Please visit SpecializedAssets.com for more information.
GAS STATION For Sale in Nanaimo BC UĂŠ UĂŠ UĂŠ UĂŠ
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$600,000ĂŠplus inventory
Mark Lester & Alan Johnson SPECIALIZED ASSETS GROUP T. 604.632.3345 E. mlester@sothebysrealty.ca
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250.668.3324ĂŠĂŠ
ÂœĂ€ĂŠi“>ˆÂ? gasstationforsale1@gmail.com
Trailer Park For Sale on Vancouver Island 36 site year round park located on north Vancouver Island. This park caters mainly to loggers. It is a 3 acre lot and includes 5 buildings, a 5-room Atco bunkhouse with attached kitchen, 3 single bunkhouses and a wash house. There are 6 years of ďŹ nancial records available. It generates between 50 to 65 k yearly with management in place. $540,000 To contact for more information, call 250-453-2243 or e-mail : irisandalex@hotmail.com
Victoria Commercial Properties and Businesses Howard Johnson Hotel
$4,580,000
Building w/2 Restaurants
$1,500,000
$129,000
$915,000
Located in beautiful Cowichan Bay. All rooms have water views. 30 units, 2-storey, 1 bedroom manager suite, 1.74 acres, 12,000 Sq.ft.
Well established Day Spa in Victoria $185,000
Downtown Salad Bar
Specializing in hand food treatments. Manicures, pedicures, facial & body treatments and many other services. Affordable rent & long lease in place.
Wessex Inn Motel
$165,000
Well established Franchise Salad Bar which is the only one in Victoria. Easy to operate & good lease in place.
Esso Gas Station with attached A & W Restaurant in Nanoose Bay (Contact for pricing) Centrally located in Victoria, British Columbia, the Howard Johnson hotel provides a friendly and convenient stop for tourists and business travelers alike. Close to downtown Victoria and the area’s most popular tourist attractions, such as the historic Inner Harbour and the Parliament building. Features numerous modern Conveniences, including an indoor swimming pool, and complimentary wireless internet access and a ďŹ tness room.
Bagel Cafe
Located in the heart of downtown Victoria; well established in the business community, offering bagel sandwiches, soups, Italian ice cream, & coffee. Easy operation, good income, & short hours (Mon to Sat, 8:00am to 5pm). Good lease in place.
Located in beautiful Sidney, BC. A grocery store which is included in the price (inventory extra) & 2 restaurants.
Outstanding exposure, incredible trafďŹ c along the E Island Hwy. Esso service station with attached A&W Restaurant. Self Service gas bar, Propane ďŹ lling facilities, Diesel, Cardlock and full Esso Convenience Store. TrafďŹ c heading both North and South on the Island Hwy have access to the amenities available here. There is a very nice home tucked in the corner of the 4+ acre lot for an owner occupier as well. Beautiful pastoral views, only 6km from Parksville and the village of Nanoose. Current businesses operate with competent managers in place.
Claire Yoo
“When dealing with Yoo, Bus: Ă“xä°{ÇÇ°££ääÊÊUĂŠĂŠCell: 250.858.6775 YOU ARE #1â€? Toll Free: nnn°{ÇÇ°££äxĂŠĂŠUĂŠ Fax: 250.477.1150
claireyoo@shaw.ca
Post OfďŹ ce w/Dry Cleaning service
$198,000
Centrally located in a Plaza, well established, good lease in place.
Nationally Branded Canadian Franchise $198,000 Nationally branded Canadian franchise offering fruit smoothies and many other nutritious food options for a fast and healthy alternative to those on the go. Located in a major mall with established clientele, this location has been operating for over two years. Perfect turn key operation for an owner operator. More restaurants and small businesses are available. Please contact Claire.
Century 21 Queenswood Realty Ltd. 2558 Sinclair Rd., Victoria BC V8N 1B8
www.claireyoo.com
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Your hunt for the right investment could be right in the pages of the Western Investor. Every month you’ll find over $2 Billion worth of opportunities. ‘OCEANVIEW CABINS’ ALERT BAY This well-designed resort is the premier accommodation choice on Cormorant Island, 12 cottages with 14 suites total, a manager’s residence and offi ce. The property is landscaped and offers spectacular views of the Broughton Archipelago, an area world-renowned for marine wildlife and fi shing. Adjacent to airstrip and mins from the amenities of town. $1,050,000
CAMPBELL RIVER FISHING VILLAGE 2.72 acre semi-oceanfront with oceanfront multi-residential property and existing RV business located in Campbell River on Vancouver Island. Substantial frontage on Highway 19A with unobstructed ocean views of Discovery Passage and northern Strait of Georgia. Year-round business and a prime development location, just minutes from all amenities. $1,699,000
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Rob Samsom
AACI CCIM FRI PERSONAL REAL ESTATE CORPORATION
1-888-829-7205
703 FLOATPLANE OPERATION Located on the British Columbia coast, this fl oatplane operation is an established, profi table and well-situated business with an excellent asset base. Domestic and International Licenses, share sale.
$1,350,000
www.robsamsom.ca
BUY
ED HANDJA PERSONAL REAL ESTATE CORP. & SHELLEY MCKAY Your Ê"Vi> vÀ ÌÊ/i>
SPACES FOR LEASE fÈ°ääÊqÊ£{°ääÉõÊvÌ UÊ
www.westerninvestor.com MAY 2012WESTERN INVESTOR
AIRPORT MAINTENANCE FACILITY This facility at the Campbell River Airport offers an exciting opportunity for a private or commercial aviation related business. There is a 50x50’ hangar and maintenance building with a hoist and built-in compressor, an attached 20x24’ shop, a 2bdrm suite and an offi ce/reception area. The 1.119 acre city-lease property provides ample parking and extra outside storage. $250,000
SELL
Selling your business? Western Investor Business Opportunity pages are organized geographically so readers can find the opportunity they want.
604-669-8500 1-800-661-6988
www.bcoceanfront.com
RE/MAX Ocean Pacific Realty
VANCOUVER ISLAND COMMERCIAL www.nanaimoremaxcommercial.com
1-877-335-4380
Jay Cousins Realty
Jay Cousins jay@jaycousins.com
of Nanaimo
Frank Johnson frank@remaxofnanaimo.com
FOR SALE
INVESTMENT OPPORTUNITIES
INVESTMENT OPPORTUNITIES
UÊÊÊ /, Ê " – Almost 2 acres of land fronting on the Millstone River, next to the Pryde Vista golf course, and a new high quality subdivision on a no thru street. Zoning allows for a single family unit with a suite/carriage house. Fully serviced. fÓää]äää UÊ 1 / 9Ê 6 "* /Ê - / - approved for 16 one bedroom units. No Development Cost Charges,, close to downtown Nanaimo with some ocean views. Development permit in place, vendor financing available or joint venture possibilities. ÊÊ ,i`ÕVi`ÊfÓ ] ää UÊ "1,/Ê", , Ê- Ê – 4,400 sq. ft. Character home, located within walking distance to downtown Nanaimo. Zoned CC-2 (Neighbourhood Centre) which provides for a variety of commercial uses. ,i`ÕVi`ÊÌ ÊfÎäÎ]äää UÊ ," /" ]Ê, - / Ê 6 "* /Ê- / - A 5.68 acre development site with an excellent ocean view and a short walk to the waterfront. The site is gently sloping towards the ocean with a variety of benches for easy development. Vendor financing may be available. Seller will buy back a lot and have a home custom built. fÈ{ ]äää UÊ 6 /Ê , xÊ - / Ê iÜÊ ,nÊ â }® – Approximately 0.8 acres overlooking the Millstone River with easy access to downtown Nanaimo. Great central location for a multifamily development, located within walking distance to Downtown Nanaimo, the New Convention Centre, and seaplane service to Vancouver. fÈnä]äää UÊ 7Ê" Ê/ Ê , / - Approximately 21 acres of multifamily land, zoned R-6, Townhouse Residential. Municipal services to the lot line. Located close to the Beban Park Recreational facility, shopping, and many other amenities. fÓ] xä]äää
UÊÊ ÓÊ -/, / Ê 1 /-Ê - Ê /, Ê "® For Sale or for Lease. 1,425 Sq. Ft. & 1,100 Sq. Ft. space can be combined for lease. Units are on main level, air conditioning, visual exposure & Strata Corp. has non-compete clause in Bylaws. Available for immediate sale or lease possession. Ê 1 ÌÊxÊfÎx ]äääÊÊÊ1 ÌÊ{ÊfÓ ]äää UÊ Ê 6 - /9Ê -/, / Ê 1 /Ê " Approx. 1,130 Sq. Ft. space with Commercial Mixed use zoning. Part of 4 unit commercial group with great neighbours, lots of common parking & walkway to water fΣ ] ää UÊ " Ê /9Ê+1 ,/ ,Ê*, Ê " / " Over 3500 sq.ft. of DT2 Commercial space on 3 levels. Complete renovations in 1992 including thermo windows, 5/8 firestop between floors, sprinkler system, separate hydro etc. Suite on top floor has ocean views, a nicely updated property & wonderful character investment in a thriving downtown community fÎ ]äää UÊ 1 Ê Ê Ê "7 /"7 Ê "Ê ", Ê qÊ Main thoroughfare location has great exposure, paved lot, building has 3 bay shop, storage, 2 offices, plenty of uses permitted. Motivated owner. f{{ ]äää UÊÊ ¤Ê Ê , Ê" Ê/ ,, Ê 8*"-1, Ê ,Ê "½-Ê 1- -/Ê / ","1 , – 2 Level 4,000 Sq. Ft. building with 3,800 Sq,. Ft. showroom/warehouse, lots of parking & easy access. Industrial zoning has broad uses. 8 Leasable tenant offices/warehouse spaces show good income fÇ{ ] ää
UÊ 1-Ê " , Ê 6 -/ /Ê "**",/1 /9ÊÊ 3 Unit Complex in prime tourist/business core with good expansion potential. Income at market rents could offer a fx{ ] ää possible 7% CAP rate. UÊ - ,Ê /ÊEÊ-"1 3 locations for sale (sep. or together) fully dedicated to body sculpting & aesthetic contouring for the entire body. Services include cellulite removal, spot fat reduction, non-surgical facelifts, Eminence Spa products, slimming treatments & professional esthetic teeth whitening. Financials show healthy profit picture. / Ì> Ê*>V >}iÊfÈÓx]äää UÊÊ "7 /"7 Ê 9- / Ê , Ê 6 -/ /Ê *,"* ,/9 6,000 Sq. Ft. over 2 levels, full renovations in 2005, new roof in 2011, income shows over 7% CAP rate at current occupancy. Quality tenants include upper end retail, MLA office, fÈn ]äää pilates studio. UÊÊ "1 /,9Ê " 1 /9Ê-/", Ê7 / Ê ÊEÊ 1 -Ê
1 Ê , – Over 2 acres of land, ample parking, large storage warehouse & terrific highway exposure. Store specializes in animal feeds, garden products, groceries, produce & hardware. Inventory to be purchased separately on completion. Information f n]äää Portfolio. UÊ ££äÊ1 /Ê Ê-/", Ê Ê- / , on 3.63 Acres with over 2 acres undeveloped & ready for commercial development. High visibility, 85% capacity year round, outdoor RV & boat storage as f£]ÓÇx]äää well. Great business opportunity. UÊ , -",/]Ê "/ Ê EÊ * ,"1 Ê Ê +1 1 100% Share Sale – 7.1 Acres of prime riverfront property, includes 36 Motel units, store, office, manager’s suite, cottages, 2 swimming pools, mini-golf & playground. Healthy profit picture for this exfÎ]£Óx]äää ceptionally well maintained investment property. UÊ , 6 "* /Ê "**",/1 /9Ê Existing Alzheimers/ dementia care facility w/90 beds plus separate residential home available for conversion to congregate care or rezone to multiresidential etc. 44,255 Sq. Ft. building on 1.87 acres near Nanaimo hospital. Society owner will remain with one year lease at current market rents during planning/feasibility phase of redevelopment. f{]xää]äää
FRANK JOHNSON
U 1 / / / Ê 69Ê 1-/, Ê*,"* ,/9Ê – Parksville area. 6.2 Acres partially developed with new warehouses, new 4 unit multi-res work/live space, new office building plus existing build to suit tenant in place on 1 acre portion w/ paved & security fenced area. Further 2.5 acres left to continue development plan. Potential income under current configuration in excess of $164,000 annually. REDUCEDÊf£] xä]äää
JAY COUSINS
4FMMJOH advertise@westerninvestor.com
604-669-8500 1-800-661-6988
JAY COUSINS
www.nanaimoremaxcommercial.com
1-877-423-0984
INVESTMENT OPPORTUNITIES UÊ +1 /9Ê" Ê 1 Ê "7 /"7 Ê "
on busy thoroughfare. Recent renovations show high end restoration of interior & exterior. Approx. 4,100 SqFt includes full kitchen for staff, patio seating, open modern plan. Easy access & paved parking. For Sale or Lease. fÈ ]äää UÊ £ Ê1 /Ê, 6 , ," /Ê "/ Ê" ÊÓÊ , -Ê Ê* , -6 Ê Unique rural feel to property with fourplexes, duplexes, and single freestanding units. Redevelopment opportunity includes existing revenue stream, owners residence, large open area, City water and a motivated seller. ,i`ÕVi` fÇ{ ] ää UÊÊ , " Ê - Ê7 / , ," /Ê " – Includes a turnkey pub/restaurant in a 1 ½ storey rustic log building. 10,000 Sq. Ft. of rooms & dining/eating area. Large deck takes in the gorgeous views. Over 4.9 acres of undeveloped land available for further expansion. Info Portfolio available. f£]Ç x]äää U /Ê 1-/, Ê <" Ê " * 8Ê qÊ Ê - ÊÊ Excellent revenue opportunity currently generating in excess of $164,000 annually. Island Highway exposure, easy access, 6 buildings in total, all on 2.88 acres. Current rental rates with vacancies filled will show nearly 8% CAP rate f£]n x]äää U " Ê Ê-/", Ê /9 110 Units with 29 steel containers offering extra rental space all on 2.5 Acre parcel. Additional rental income from residential & commercial tenants. Consistent 95% occupancy. Current Appraisal establishes asking price. , 1 fÓ]Ó{ ]äää
BUSINESSES U Franchise Fitness Business South NanaimoÊ U Used books / consumer services retail – Nanaimo UÊSeasonal Wreath Business – Qualicum UÊCasual Dining Restaurant North Nanaimo UÊMid-Island Diaper pick-up & delivery Service UÊSports Retail Clothing & Accessory Store Duncan U Ricky’s All Day Grill Franchise – Courtenay U Panago Pizza Franchise Parksville
fÈ ] ää fÇ ]äää f£Ó ]äää f£È ] ää f£ ] ää fÓ{ ]äää fÓ{ ]äää fÎ ]äää
JAY COUSINS
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.
Vancouver Island A27
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
Nanaimo & Vancouver Island Investments Blenz Coffee Franchise www.blenz.com Woodgrove Mall 279K 4 Pubs each with unique location (Nanaimo area) from 275K-500K 42 Unit Townhouse Development Westcoast 409K 5000 sq ft Res/Comm Mix Downtown Nanaimo 487K 12500 sq ft Res/Comm Mix Downtown Ladysmith 778K 7+ Acre Winery 950K Prime .40 Acre Highway Comm w/ 5000sq ft building Duncan 1.25M 12+ Acre Development property/ Samuel MacLure Estate Duncan 1.85M 4 Phase Multifamily Site Central Nanaimo 1.975M The Johnson Group Jim Johnson -- Jay Deleskie jim@coldwellbanker.ca PRESIDENTS CIRCLE TEAM Coldwell Banker Vancouver Island Realty
Become part of Canada’s TOP DEBT ELIMINATION FRANCHISE ...be a professional Debt Consultant with 4 Pillars Consulting Group
1.800.600.1718 Suite 103–1801 Bay Street, PO Box 195, Ucluelet. BC. MID-ISLAND REALTY Canada V0R 3A0
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1016 Peninsula Road $189,000 MLSÂŽ301844 Vacation cabin, home warranty, seller ďŹ nancing. Great weekend surf/vacation property.
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1766 Cypress Road $196,500 MLSÂŽ330087 Converted home. OfďŹ ce, retail, restaurant, studio and more. Harbour view.
‡ Turnkey business ZLWK extensive training DQG ongoing support! 'HEW &RQVXOWDQW 3URJUDP /LFHQVLQJ 7UDLQLQJ )HH ONLY $7,000 WR VWDUW WD[HV
Lot 9 Forbes Road $214,000 MLSÂŽ327992 Vacant land. Zoning permits business on main, residential above. Secondary residence also permitted for caretaker. DCC exempt area. Port Albion Road $295,000 MLSÂŽ319039 Large shop on former Dry Land Sort. Renewable lease in place. Extra height large doors, mechanic pit, ofďŹ ce and more. Behind locked gate.
Call Cornell 250-756-9239 cornellp@4pillars.ca www.4pillars.ca 4pillarsfranchise.ca/dc/
DL 404 $990,000 MLSÂŽ305183 160 ac. Near PaciďŹ c Rim National Park. Road access. In MFU, managed forest. Lot 2 St. Jacques Blvd $399,000 MLSÂŽ328026 40 Unit multi-family development site. Underground services, easy access to amenities. Lot B Minato Road $888,000 MLSÂŽ331767 24.71 acre Inlet waterfront property, access to services available. Great location at entrance to Ucluelet. Comp. Dev. plan area.
#17 - 4890 Rutherford Road Nanaimo, B.C.
1-866-664-3444
www.nanaimojim.com
JUDY GRAY, CCIM
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PROUDLY CANADIAN
www.judygray.com
NANAIMO & VANCOUVER ISLAND PROPERTIES FORECLOSURE COURT ORDERED SALES 3 ACRE TOWNHOME DEV SITE Stunning ocean view up to 30 units. $995,000 DISTRESS SALE – 4 UNIT RESIDENTIAL On Ÿ acre property. Needs TLC. Projected income monthly: $3900 Absentee owner needs this sold $409,000
DEVELOPMENT SITES & LAND 1.0 ACRE COMMERCIAL DT 11 ZONED PROPERTY With 3 separate buildings. Used formerly as Sunglow Lumber & 2nd hand store outlet. Property is assessed value over $1 million. $569,000 OCEAN VIEW DEVELOPMENT SITE 21 condos or 8 townhomes. $379,500 PENDING FANTASTIC OCEAN VIEW RM-5 DEV SITE Unrestricted views, overlooks cruise ship pier. Approved for 35 condos, No DCC’s. $729,000 NANAIMO BEST BUY! MIDRISE DEVELOPMENT SITE Located in the Downtown core. Nanaimo: Commercial or condo site. NOW $159,900 Excellent Buy 2 ACRE COUNTRY LOT ZONED FOR 2 HOUSES Allows for Bed & Breakfast, dog kennels, country market. City water. $298,000
1* 8Ê "/Êf£Ó™]äääÊÊUÊ{Ê* 8Ê "/Êf£™™]äää COUNTRY ESTATES DEVELOPMENT SITE 23 ACRES $459,000 50 ACRES, $995,000 43 ACRES $859,000 Adjoining properties, 1 mile from city limits, Zoned for 5 acre lots
DALE SHORTT
INCOME PRODUCING + REVENUE PROPERTIES
HOTELS & PUBS NORTH ISLAND HOTEL & PUB, WINE & BEER STORE 30 renovated rooms generating $8,000 monthly. $1,595,000 FULL FACILITY SUPER 8 MOTEL Central/southern Vancouver Island. High profile Location. 35 rooms, + 20 suites with leased 125 seat pub and Smitty's 120 restaurant. 1.5 acre property on Trans Canada. $3,600,000
OCEANVIEW 3-PLEX South Vancouver Island. Excellent Income. 3 separate titles. $369,000 NANAIMO DUPLEX 3 bedrooms per side, 2 separate titles. Excellent income. $399,500 5 RENTAL HOMES – All together 5 sep. adj. lots. Starting at $169,900 or all for $1,150,000. Seller will finance.
CONDOS & HOMES PACIFICA OCEAN FRONT CONDOS 38 Front Street Units for sale. Walk-on waterfront townhome $509,000 no HST. Call Dale for other units available.
21 UNIT TOWNHOMES REVENUE PROPERTY ON THE GOLF COURSE. 2 & 3 bedroom units, private patios. Monthly income: over $20,000, assumable mortgage. Ideal property to hold or strata conversion. $2,875,000
DEPT BAY BEACH FRONT HOME This smaller 2 bedroom home awaits your ideas. Great year round or vacation home, swimming & beach right out off your front veranda. $599,000
12 UNIT APARTMENT BLOCK. Renovated. $8,000/monthly revenue. Financing available. $1,180,000 STRIP MALL Across the road from the beach, 10,200 sq.ft. 3 commercial spaces. 4 strata condo rental units. Monthly income over $11,000 ASKING $2,250,000
WATERFRONT CONDO TRADES WELCOME $425,000 With swimming pool and hot tub and boat moorage. 2 bedroom, 2 bathroom in Yellow Point. www.yellowpointmemoRIES COM Seller will finance with low down or take trade! Owner will take a condo in Vancouver in trade.
Bus: s Toll Free 1-800-665-8313
4RANS #ANADA (IGHWAY ,ADYSMITH " # 6 ' ! s %MAIL DALESHORTT SHAW CA
5 PLEX NANAIMO 5 meters, over $4,500 monthly revenue. Covered parking. Storage lockers. Separate meters. Asking $749,500
Ocean Pointe
THE GLOBE HOTEL $1,395,000 Opened in 1887 – restored 3 storey masonry building. Home to 145 seat pub restaurant. Full functioning kitchen. 8 – 1bdrm suites. Great investment & return.
NANAIMO RESTAURANT FOR SALE OR LEASE Land, building plus parking lot. Fully equiped. Beautifully renovated. $698,000
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A28
www.westerninvestor.com MAY 2012WESTERN INVESTOR
COMMERCIAL
RE/MAX TREELAND REALTY
RE/MAX LITTLE OAK REALTY
RE/MAX BOB PLOWRIGHT REALTY
#101 6337 - 198 Street, Langley, B.C. V2Y 2E3 Tel: (604) 533-3491 Fax: (604) 533-0202 Toll Free at 1-888-707-3577
2630 Bourquin Crescent West, Suite 9, Abbotsford, B.C. V2S 5N7 Tel: (604) 859-2341 Fax: (604) 850-2325 Toll Free at 1-800-668-8661
7300 Vedder Road, Suite 1, Chilliwack, B.C. V2R 4G6 Tel: (604) 858-7179 Fax: (604) 858-7197 Toll Free at 1-800-830-7175
COMMERCIAL BUYER/TENANT REPRESENTATION Have you done a proper Lease vs. Buy Analysis? A CCIM provides more resources than other Realtors can! Have your Commercial Professional source your requirements: Properties, Bylaw Compliance, Investment Analysis, Negotiations. Call or email David! YOUR AGENT works for YOU!
DEVELOPMENT SITES NEW OFFERING!
Central Port Coquitlam RS4 20,000+ Sq. Ft. Zoned for 3 lots! Holding income. Offered at $989,000 CLS#: V4030642 Call or email David RETAIL STORES FOR SALE 2570 Kingsway Ave in Port Coquitlam – presently a restaurant. Property only for sale not the business – don’t ask for business numbers please. 748 Sq. Ft. $309,900 CLS#: V4030490 Call or email David
“LOOKING FOR SOME
HELP IN STARTING OR EXPANDING YOUR INVESTMENT PORTFOLIO, LETS CHAT, COFFEE ON ME.”
age sheds. $1.1 Million .
biz for sale. $159,000.
DAVID KEARNEYCCIM
dkearney@remax.net
604-942-0606 Toll Free:
1-888-942-0606
RE/MAX S ABRE REALTY
16 SUITE MULTI FAMILY DEVELOPMENT SITE xOffered at CAP RATE of 5.69% xComprised of 2 separate titles .78 acres xFuture Development Site xIn City’s Official Community Plan 28 to 54 units per acre, 4 storey residential
Highway. 5 bays, offices on
biz in Abbotsford. Auto Body
www.davidkearney.com
SALE $495,000
in Prospect Park close to
and come own this turnkey
in Port Coquitlam – presently a convenience store Property only for sale not the business – don’t ask for business numbers please. 821 Sq. Ft. $339,900 CLS#: V4030247 Call or email David
xPerfect for new or small investors xCurrently leased by the BC Liquor Control Board as a liquor store since 1996 xLocated in downtown Agassiz, BC xEasy to own, easy to manage
light Industrial building
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RETAIL STORE FOR SALE 2568 Kingsway Ave
IDEAL INVESTMENT PROPERTY
opportunity. Well kept up,
room. Fenced yard with stor-
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102-2748 Lougheed Hwy., Port Coquitlam, B.C. Tel: (604) 942-0606 Fax: (604) 942-9533
FOR SALE IN CHILLIWACK
U Fort St John, Investment
main and above with lunch
RE/MAX SABRE REALTY GROUP
SALE $1,295,000 CHWK ACREAGE - 2 TITLES
LIVE/WORK PROPERTY
x14.35 Acres of land xIncludes 6 Bdrm Home +
x2,843 sq. ft. 4 Bdrm Home x1 Acre Industrial Property xZoned CD14 - Outside
70 x 80 Barn xAlso available w/separate
Storage
title 7.5 acre land
SALE - FARM: $795,000 LAND: $419,000
SALE $579,900
BUSINESS FOR SALE
INVESTMENT PROPERTY x.29 Acre lot zoned CSI xCommercial on bottom floor xResidential on top floor xFully leased ± 3,798 sq. ft.
xSandwich Tree Franchise xEasily run by couple or
family xThis business makes
money
building
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SALE $59,900
SALE $598,800
building in Dawson Creek,
FORECLOSURE PROPERTY
HIGH PROFILE RETAIL
BC.
RAY YENKANA CCIM, ABR 1-800-668-8661 rayy@remax.net www.rayyenkana.com (listing details) Follow me on Twitter @rayyenkana
RE/MAX LITTLE OAK REALTY
SPECTACULAR VIEW 36.4 ACRE PROPERTY – ABBOTSFORD One of a kind awesome view, overlooking Fraser river & Valley farms. Ideal building site for the exclusive country estate. Fully useable farmland for berries or livestock. $2,188,000
xGood street exposure xPlenty of City Parking xRenovated in 2007 x11,293 sq. ft. lot
23,756 sq. ft. lot located on corner intersection xPartially finished building xDevelop and realize profit x
SALE $695,000
SALE $690,000
AIRPORT HANGAR W/OFFICE
MULTI-FAMILY COMPLEX
x 2 kitchens, 2 washrooms,
xFully Rented x12 unit townhome Complex xLocated in Hope, BC x.629 acres Lot xOpportunity to increase value
2 reception areas, 15 offices, 7000 sf hangar with 2 x 2.5 ton hoists etc. Can be leased separately.
SALE $850,000 or LEASE FROM $6/s. f.
SALE $889,000
LIVE/WORK OPPORTUNITY
BUSINESS & PROPERTY xLiquor Store & Pub, on 1
xMixed use 3,250 sq. ft. x3 bdrm residential suite x4 Bays, in floor radiant
acre of land xLocated on busy road xPrice includes: business,
heat and individual meters
768 ACRE 5 TITLE CATTLE RANCH AND PLAYGROUND
SALE $689,900
land, equipment and building
Harrison Hot Springs -SALE
$495,000
FOR LEASE IN CHILLIWACK
An ideal opportunity for any individual, family, or group purchaser. This working cattle ranch also prvides a private year round playground that may be coupled with a significant bed and breakfast business. Go hunting, fishing, hiking or horseback riding for miles on trails suitable for ATV’s in summer and snowmobiles or cross country skiing in winter. Snowboard and ski the ranches own private downhill run. Currently set up to raise 250 to 300 head of cattle this ranch is Located just off HWY 97, 20 minutes South of Quesnel B.C. The 768 acre property has 5 titles plus approximately 3000 acres of attached range lease with water licence for irrigation. Beautifully finished and landscaped the 10 yr old 1730 Sq. Ft. ranch house has a panoramic view of the Fraser River Valley. Also included a 1400 sq. ft. cabinet shop, a 24’x40’mechanic shop, a 2880 sq. ft. machine shed, a bunk house, a 3 yr old 72’x80’ hay barn, and a large older log barn for cattle and 100 tons of hay.
Excellent value! Offered at $960,000 Call or email roy@mufford.com for additional pictures.
CALL ROY
MUFFORD 604-533-3491
RE/MAX TREELAND
Lease From $11/sq ft Gross xSmall bay warehouses xHigh Visibility, on busy main road xRetail 2,270 sq ft x6 spaces from 1,020 to 2,325 sf x Warehouse1,800 sq ft xFrom 746 sq. ft. to 2,697sq. ft. xExcellent exposure on busy road x5 min to freeway, ample parking xOn site parking Lease From $8/sq ft
Lease From $7.50/sq ft
Lease from $10$12/sq ft
Lease $9/sq ft
xNear Courthouse/City Centre xSpace available 1091 to 1665 sq ft xSecure on site parking
xOffice and/or retail space xUp to 4,450 sq. ft. Full HVAC x9 private offices, reception etc.
1-800-830-7175 - 604-858-7179 bob@bobplowright.com www.bobplowright.com
THE ART OF BUSINESS
A1 Zoning, 2547 sq. ft House, second dwelling allowed, 30’X114’ Shop 14 ‘ doors, 400 Amp power, 3 phase available, city water plus water license for irrigation, good flat land 3 Barns 72’X160’, 50’X115’, 69’X97’ plus other buildings
Long standing business in art school instruction, art framing and Giclee printing. Good street location in Walnut Grove and good list of regular students plus instructors. Expand the framing and print business for extra profit. Fine chance to explore your talent in business and art. $199,900 so call me today for details.
DAVE ABBOTT1-888-296-8060 dave@fraservalleysales.com
RE/MAX 2000
x Commercial Retail/Office xOn Site Parking - Zoned CSM x2 Units (1,472 & 2,671 sq. ft.)
Bob Plowright RE/MAX Bob Plowright Realty CHILLIWACK, BC
61.85 ACRES - FRASER VALLEY
Great buy at $2,400,000
Lease $9-$10/ sq ft
JEREMY SUTTON 604-657-8921
RE/MAX TREELAND