www.naicommercial.ca Commercial Real Estate Services, Worldwide.
FOR SALE
SELF-STORAGE FACILITIES
SQ FT WAREHOUSE !BBOTSFORD SQ FT WAREHOUSE !BBOTSFORD SQ FT WAREHOUSE 3OUTH 3URREY SQ FT WAREHOUSE -ISSION
Vernon, BC s UNITS PARKING s SF ACRES
FOR LEASE SQ FT WHS OFlCES !BBOTSFORD PER MO SQ FT WHS OFlCES !BBOTSFORD PER MO SQ FT WHS OFlCES !BBOTSFORD PSF SQ FT WAREHOUSE ,ANGLEY PSF
Penticton, BC s UNITS PARKING s SF ACRES
RESIDENTIAL
BRUCE SHELDON – 604-534-7974 bruce@naicommercial.ca
KEN KIERS* OR KEN HICK P. 604-534-7974 TF. 1-800-890-9855 KEN KIERS OR KEN HICK kiers@naicommercial.ca
s 19,633 SF SITE LOTS s RES RETAIL UNITS s "UILD NEW STOREY MULTI FAMILY RETAIL s 3UBDIVIDE INTO NEW RES LOT s #ORNER LOT X FT
MULTI-TENANT COMMERCIAL
ASKING $2,350,000
s 2EZONING REQ D TO ACCOMMODATE SOME PROPOSED USES
BURNABY
DON ELLIS, RI 604-691-6668 donellis@naicommercial.ca
s SUITES CONSTRUCTED IN s 7ALKING DISTANCE TO 3HOPPING -ALL s 3PACIOUS UNITS WITH EXCELLENT LAYOUT s 'REAT CONDITION WITH NEW PLUMBING WINDOWS SUITES UPGRADED ETC s .EVER BEEN OFFERED FOR SALE BEFORE
TERRY HARDING 604-691-6615 JACKSON TANG 604-691-6680 harding@naicommercial.ca / jackson@naicommercial.ca
kiers@naicommercial.ca
* Personal Real Estate Corp.
s )DEAL SITE FOR HOME IMPROVEMENT STORE STRIP MALL FACTORY OUTLET SHOPPING CENTRE HOTEL 26 PARK INDOOR 26 STORAGE
s Now available at $3.2 Mil. K AC WITHOUT FURTHER IMPROVEMENT AND IF SOLD AS ONE TITLE OR PURCHASE IN SMALLER LOT SIZES AT K AC WITH REZONING INTERNAL ROADS AND SERVICING COMPLETED
s SF RENTABLE s &ENCED PARKING LOT s SF C LOT s %XCELLENT CONDITION s 0RO FORMA CAP s (IGH TRAFlC LOCATION
CONCRETE HI-RISE MAPLE RIDGE
KEN KIERS* 604-534-7974 1-800-890-9855
11.4 ACRES DEV. LAND ADJACENT TO WALMART, MERRITT
MIXED USE DEVELOPMENT NEW WESTMINSTER
ASKING $1,980,000
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 Asking: Contact LIsting Broker
or 1-800-890-9855 CHRIS LANGHAUG 604-534-7974 langhaug@naicommercial.ca
INDUSTRIAL BUILDING FREE STANDING LANGLEY
INVESTMENT BUILDING MULTI-TENANT LANGLEY CITY
s SQ FT 7AREHOUSE 7ITH SOME MAIN mOOR OFlCES s !CRES 0AVED LOT s &INISHED OFlCES WASHROOMS AND MEZZANINE s (EAVY 0OWER &ENCED AND SECURE YARD s %XTRA 9ARD AREA n 2ARE s 3PRINKLERED BUILDING HAS MONTH BY MONTH TENANT s
s s S F BUILDING ON S F LOT s # 3ERVICE #OMMERCIAL s 0RIME LOCATION IN ,ANGLEY #ITY s YEAR LEASES IN PLACE WITH OPTION TO RENEW AND RENTAL INCREASE OF PER ANNUM s ./) s !LWAYS FULLY TENANTED s &UTURE RE DEVELOPMENT
DON & ANGIE MACDONALD
604-534-7974 or 1-800-890-9855
Build on the Power of Our Network. Over 350 Offices Worldwide.
VANCOUVER • LOWER MAINLAND • VANCOUVER ISLAND SECTION
$4.29 JULY 2012 Vol. 27/Issue 7
22 WAKING UP ON THE ISLAND
Spec builders sure sign Vancouver Island back
â–²
Price: Contact Broker
SERVICED LOTS IN ,ANGLEY 7ALNUT 'ROVE UP )NVESTMENT HOUSE n SQ FT LOT !BBOTSFORD
Commercial/Industrial Land Highway 1 Access and Exposure Flood Hope Road, BC
Lasqueti Island-born Fohla Burton: luxury projects like Harwood Estates near Comox tap desire for Island lifestyle
21 AVOIDING REALTY SCAMS
Stolen homes and other property fraud dangers, and how to dodge them 17 BURNABY THINKS BIG
B.C.’s third-largest city sees rush of industrial, office, condo projects SPECIAL SECTION • A14
LIFESTYLE PROPERTIES
PUBLICATIONS MAIL AGREEMENT 40069240 RETURN UNDELIVERABLE CANADIAN ADDRESSES TO CIRCULATION DEPARTMENT: 102 EAST 4TH AVENUE, VANCOUVER, B.C. V5T 1G2
executive golfer’s retreat at semiahmoo $1,195,000
s ! GOLFER S DREAM HOME SPECTACULAR ONE OF A KIND CORNER LOCATION BORDERING THE FAIRWAY AND HOLE ACROSS FROM CLUBHOUSE s 3UPERB QUALITY WITH HIGH END APPOINTMENTS NEW NEARLY S F CUSTOM HOME SUITES DETACHED GUEST #ASITA WITH FULL BATH Call MIKE (604) 288-7473 For flyer see www.copacrealestate.com
A2 Lower Mainland FREESTANDING OFFICE BUILDING FOR SALE
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ROGER LEGGATT MAX ZESSEL
COUNTRY PINES MOBILE HOME PARK & GALLAGHER LAKE RESORT
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DON DUNCAN* CHRIS DRIVER*
www.westerninvestor.com JULY 2012WESTERN INVESTOR
FOR SALE - 12180 RIVERSIDE WAY, RICHMOND
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BOB WATT
FOR SALE: EXCELLENT NEW WESTMINSTER INVESTMENT OPPORTUNITY
2999 GRANDVIEW HIGHWAY, TOFINO ZONED VANCOUVER CAMPGROUND/COMMERCIAL TOTALLING OVER 116 ACRES
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CHRIS DRIVER*/ANDREW LAURIE DON DUNCAN*
CRAIG HAZIZA***
MARK GALLAGHER
FOR SALE - RARE DOWNTOWN PROPERTY
9% RETURN 1218 N. CARIBOO HIGHWAY
AAA COVENANT SALVATION ARMY
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FOR SALE 5,498 SF FREESTANDING INDUSTRIAL BUILDING
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10.18 ACRE INDUSTRIAL SITE BOWEN ISLAND INVESTMENT TILBURY BUSINESS PARK OPPORTUNITY
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BILL HOBBS* FLAVIO UNTI
RANDY SWANT* LEE G HESTER*
86,000 SF ON 9 ACRES IN PORT KELLS
FOR SALE - 8319 MAIN STREET, OSOYOOS, BC
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BILL HOBBS*
BILL RANDALL*
FOR SALE - KINGSWAY
2790 ALLWOOD STREET OWNER/USER OPPORTUNITY WITH INCOME
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DON DUNCAN* / CHRIS DRIVER*
INVESTMENT/OWNER-USER OPPORTUNITY
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BURTON VAN ALSTINE* HUDGE PARMAR*
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ERIC WALKER / ERNIE CORLETT
BILL RANDALL*
ERIC WALKER
CRAIG HAZIZA***
HUDGE PARMAR* / MAX ZESSEL
BILL RANDALL*
38,253 OFFICE/WAREHOUSE/ TECH FACILITY
FOR SALE SURLANG MEDICAL CLINIC
IDEALLY LOCATED FREESTANDING BUILDING
WOOD LAKE DEVELOPMENT SITE
FOR SALE/LEASE 21755 LOUGHEED HWY
FOR SALE RIVER’S EDGE BUSINESS PARK, PORT COQUITLAM
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RICK EASTMAN*
MIKE HARDY MAX ZESSEL
ERNIE CORLETT
MARK GALLAGHER HUDGE PARMAR*
BRETT AURA CRAIG BALLANTYNE*
RICK EASTMAN* BART VANSTAALDUINEN*
FOR SALE - 63 ACRE INDUSTRIAL SITE
FREESTANDING COMMERCIAL BUILDING
FOR SALE - 32860 MISSION WAY, MISSION
FOR SALE - CAREFREE INVESTMENT STRATA
OFFICE BUILDING FOR SALE
FULLY LEASED MIXED USE BUILDING
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BILL HOBBS*
DAVID CANNING
BILL RANDALL*
ADAM FRIZZELL
ANNE TANNER
CRAIG BALLANTYNE*
FOR SALE - LONG TERM GOVERNMENT TENANCY
GATEWAY TRAVEL CENTRE, KAMLOOPS, BC
FOR SALE - WILLOW CALE ROAD, PRINCE GEORGE
FOR SALE - HARRISON HIGHLANDS, KENT
FOR SALE 38917 PROGRESS WAY, SQUAMISH
FOR SALE LINCOLN CENTRE
PRICED REDUCED
50% LEASED t .BOTmFME %SJWF $PVSUFOBZ t /FX OFU MFBTF t #VJMEJOH VQHSBEFT t /FU PQFSBUJOH JODPNF t 1SJDF
ERIC WALKER
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BART VANSTAALDUINEN* ERIC WALKER
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BILL RANDALL*
Moving with confidence
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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*
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CRAIG HAZIZA*** CRAIG BALLANTYNE*
$0/5&/54 +6-: 7"/$067&3 Â… -08&3 ."*/-"/% Â… 7"/$067&3 *4-"/% 4&$5*0/
FEATURES 22 0/ 5)& $07&3 7BODPVWFS *TMBOE QPXFST VQ
On the cover Fohla Burton of Red Gun Marketing on site at Harwood Beach Estates in Comox Valley, Vancouver Island. Photo: Anna Difiore
41&$*"- 4&$5*0/ Â… " LIFESTYLE PROPERTIES
REITs, retirees, investors forming fresh economic wave
9
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Developers link disparate uses to reduce any risk
"%7&35*4*/( %*3&$503:
13 $BTJOPT QVC QMBZT OP MPOHFS TVSF CFU
Solo “village,� Marine Drive projects setting the pace
#64*/&44 0110356/*5*&4
8 4&37*$&4 20 4&" 50 4,: 46/4)*/& $0"45 3&(*0/
20–27 7"/$067&3 *4-"/% 3&"- &45"5&
21 5IFO UIFZ TUPMF IJT IPVTF
Gambling and drinking take back seat to trends
17 #VSOBCZ FZFT SFDPSE JO JOEVTUSJBM SFUBJM TBMFT
2–19 -08&3 ."*/-"/% 3&"- &45"5&
How to avoid being ripped in a real estate scam
#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& 25 8)"5¤4 )"11&/*/( */ # $ 27 %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
Prime High-Density Development Property in Abbotsford
www.danpreston.ca Personal Real Estate Corporation ,!.$ !33%-",9 s $%6%,/0-%.4 s ).#/-% 02/0%24)%3
COMMERCIAL RE AL ESTATE SERVICES SENIOR'S DEVELOPMENT SITE SALE: $1,990,000 NEW WEST/BURNABY MIXED DEVELOPMENT
1.3 acres located just steps away from Mill Lake and Seven Oaks Mall.
39 Apartment Units, 7 Townhouse Units $2,850,000 OCP & Area approved plan. Joint Venture Opportunities Considered.
Contact 604-308-1475 E-mail vasacanada@gmail.com
Foundation in place, tendered plans, permits, ready to complete. 88 units.
SUTTON GROUP WEST COAST REALTY
CALL
LANGLEY 24453 60th Avenue s LARGE !CRE PARCEL DIVIDED FROM ORIGINAL ACRES s LOCATED ON THE NORTHERN PORTION OF TH !VE s 32 ZONING SECTION ZONED 0 ' 7437 253rd Street s !CRES s SQ FT BEDROOM HOME s UPDATED YEARS AGO s SEPTIC lELD RE DONE YEARS AGO s SEVERAL PADDOCKS AND SHELTERS AS WELL AS 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 .%7 2%$5#%$ 02)#% s !CRES s SQ FT BDRM ONE STOREY WITH PARTIAL BASEMENT HOME s RENOVATIONS YEARS AGO s SQ FT SHOP W LOFT AND SINGLE CAR GARAGE DOORS s SECOND DWELLING IS A SPLIT LEVEL BEDROOM HOME WITH SQ FT UPPER mOORS AND SQ FT BASEMENT
Barb 604-466-2010 beinginaction50@yahoo.ca
www.citylifestylegroup.com
604-817-7338
botsold@intergate.ca
ACREAGES
COMMERCIAL/INDUSTRIAL SURREY/LANGLEY BORDER
CHILLIWACK
1 & 2 - 5492 Production Blvd EACH s SQ FT EACH s ,ARGE OVERHEAD DOOR s AMP PHASE PANEL AMP PANELS s /FlCE FRONT WITH UV lLTERED GLASS MEZZANINE WITH LARGE X WINDOWS LARGE SHOP AREA s &ORCED AIR GAS FURNACE IN SHOP ELECTRIC HEAT IN OFlCE s ,ARGE X WINDOWS IN MEZZANINE s 7ILLING TO SELL 5NITS TOGETHER OR WILL DIVIDE
51140 Ruddock Road $1,500,000 s !CRES s 0OTENTIAL FOR ,OTS
889 Lefeuvre Road s !CRES s -USHROOM &ARM s 3HOP #OMPOSTING &ACILITY s 'ROWING "ARN -ULTI 5SE "UILDING 27691 Downes Road NEW REDUCED PRICE!!!!! s !CRES s 0OTENTIAL "ERRY ,AND s ,ARGE 3HOP "ARN 3TORAGE 256th Street & 48th Avenue NEW PRICE!! 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 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 *ETTED TUBS UPSTAIRS DOWNSTAIRS 6842 202B Avenue & 6868 202B Ave $1,700,000 s 0RIME 4OWNHOUSE $EVELOPMENT 3ITE s $ESIGNATED 50! WITH UNDERGROUND OR STRUCTURED PARKING s %XCELLENT 6IEW 0ROPERTY CLOSE TO ALL !MENITIES
✓ GOOD RETURN
Building is fully rented, Good Condition with good property management. Rent is $44,600 per year. Residential mortgage available at 2.9% $280,000
Contact: WILLIAM by mobile or text 604-657-1270 CITY LIFESTYLE GROUP
ACREAGES
We are selling a 5 unit Apt. in Saint John NB.
15% Per Annum Rate of Return Secured Mortgage One Year Term Excellent Inner City Location Construction Starts Sept 1, 2012
48th Avenue & 216th Street /PEN TO /FFERS s !CRES TWO PARCELS s 0OSSIBLE &UTURE 0OTENTIAL
ABBOTSFORD 5133 Bates Road $2,200,000 s #OURT /RDERED 3ALE s !CRES s PRIVATE LOCATION TO BUILD YOUR DREAM HOME s USED AS A $AIRY &ARM BUT A GREAT LOCATION FOR BLUEBERRY FARM OR OTHER FARMING VENTURES
✓ VALUE FOR $
4 PLEX-VANCOUVER-KITSILANO
Don Munro
ACREAGES
DO YOU WANT CASH FLOW ???
2nd MORTGAGE INVESTMENT BOUTIQUE REAL ESTATE
700 Columbia Valley Road $1,300,000 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 .3 Acres (on corner) s :ONED #() (IGHWAY #OMMERCIAL 19518 32nd Avenue $3,150,000 s !CRES IN #AMPBELL (EIGHTS s $ESIGNATED "USINESS /FlCE 0Ark
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 $1,250,000 s !CRES s #LOSE PROXIMITY TO 4RANS#ANADA (WY s - :ONING (SALES MANUFACTURING DISTRIBUTION WAREHOUSING FOOD PROCESSING OUTSIDE STORAGE ALLOWED 44109 Yale Road West $1,210,000 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, $325,000 s ACRE )NDUSTRIAL 6ACANT ,OT s :ONED - 3ERVICE )NDUSTRIAL s 0ERFECT FOR SMALL BUSINESSES
✓ UPSIDE
✓ CAREFREE
A4 Lower Mainland
www.westerninvestor.com JULY 2012WESTERN INVESTOR
Macdonald Commercial Real Estate Services Ltd.
120 UNIT APARTMENT BLDG VANCOUVER LOCATION 50% Vacant Needs Major Improvements
BOB SCRAGG 604.290.2906 | bscragg@macrealty.com Sparkling Commercial Investment Waiting for you 6% cap
FOR SALE: 94 UNIT HIRISE APARTMENT BUILDING
Owner will carry 60% of Sale Price
3075 Willow, Vancouver
For Sale
$13,000,000 Contact: NEAL IVERSON
‡
MULTI-FAMILY, PRINCE GEORGE:
‡
APARTMENT BLG, PRINCE GEORGE:
NCI REALTY LIMITED 200 – 1687 West Broadway Vancouver, BC V6J1X2
Email: neal@ncirealty.ca Direct Line: 604-724-9524
Dan Schulz
‡ Located in Downtown Prince George near transit ‡ 94 units/11 Bchlr /35 1-Bdrm/47 2-Bdrm ‡ Recently fire damaged & vacated. Insurance money available for buyer to repair or seller will deliver the bldg ready for occupancy ‡ 9 600 000
‡
27256 FRASER HWY, ALDERGROVE:
‡ &entral commercial frontage in town centre on main street. ‡ Building 6 500 sT ft/ Lot 66¡;120¡ ‡ &an be re-conÀgured into 3units 2 000 6)
all w/ street frontage. ‡ 0i[ed use redevelopment potential ‡ Guaranteed 3-yr lease to yield near 6% yield ‡ List Price 750 000
FOR SALE: 102 ACRES PRINCE GEORGE
th Ave, BUIDLING FOR SALE / LEASE OFFICE 1275 W.: 75 Vancouver
JOINS
MACDONALD COMMERCIAL Investment Sales Dan is an apartment building specialist with
I PR
15 years of experience facilitating major multi-family (apartment building) investment was licensed with the downtown Vancouver ofÂżce of &olliers ,nternational where his clients included 0ainstreet (Tuity &orp.
BOB SCRAGG
(mpire Group +ollyburn Group 3&, Group %& +ousing and many others. Dan has originally from D sseldorf and speaNs Àuent German. +e has a %$ from 4ueenœs 8niversity (+onours (conomics) Graduate 3rogram
R
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‡ Designated - Residential & &ommercial ‡ 6ervices available ‡ 6uper investment ‡ Gravel opportunity while holding ‡ 3 000 000 2 500 000
transactions. For 12 of those years Dan
investment clients from Germany as he is
CE
U ED
D
‡
OFFICE BUILDING, BURNABY:
‡ ‡ ‡ ‡
+igh profile location close to transit 75 000 sT. ft. total 40 000 sT. ft. available immediately Lease Rate 12/sT. ft. long term
‡ )or sale 170
604.290.2906 bscragg@macrealty.com
FOR SALE: LAKEFRONT RESORT MOTEL PENTICTON, BC ‡ 3-Bdr owner ¡s suite with private lakefront balcony
Dan Schulz
604-714-5528 dan@bcapartmentinsider.com
‡ 140- 6eat lakefront restaurant currently leased
wwww.bcapartmentinsider.com
‡ 31-Guest suites in e[cellent condition
8rban 3lanning ,ssues &oncepts 8%& and
‡ 2-Bedroom manager ¡s suite
has completed the &anadian 6ecurities &ourse.
‡ 6altwater outdoor swimming pool
bcapartmentbuildings.com
604.736.5611
BRUCE LONG 604.312.2000
www.macdonaldcommercial.com
‡ $sking Price 3.290
DAVID FITZGERALD 604.714.5522
COURT ORDERED SALE: INDUSTRIAL BUILDING & LAND
FOR SALE . ASED BE LE DETAILS Y A M L FOR CAL
‡ Building 54 000 sT. ft. industrial site Blg ‡ Land 2.32 $cres ‡ I+ - +igh Impact Industrial =one
BUILDING AT UBC 81,260 sq.ft. R&D
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 FOR LEASE 725 Eaton Way Approx 9,200 sq ft warehouse with approx 3,800 sq ft ofďŹ ce space. Attractive rates.
12320 - 88 Ave SURREY, BC
BRIAN TATTRIE 604-714-47 3 DON O’BRIEN 604-714-47 9
RARE GOLF COURSE FOR SALE | 604.736.5611 ERIC POON & KELVIN LUK BRUCE LONGOPPORTUNITY | DAVID FITZGERALD ‡ ‡ ‡ ‡ ‡ ‡
&hampionship Golf &ourse with +otel/Resort Potential 9ancouver Island Par 72 6616 yards 1 holes &hampionship Golf &ourse on 159 $cres 12 000 sT. ft. club house with pro-shop restaurant lounge and banTuet facilities D )ull si]e driving range and large practice facilities CE DU Preliminary plans for a 200 rooms hotel and convention centre E R CE 000 sT. ft. custom built home RI
ERIC POON / KELVIN LUK 604.736.5611
Larry or Kris 604-689-8226 SEEKING AN INVESTMENT OPPORTUNITY
‡ $sking Price 4 400 000
PRIME RETAIL INVESTMENT
3 strata title units sold together--control the entire retail component of WANTED INVESTMENT PROPERTY this building. Fully $500,000 to $1.500,000 with close to tenanted at the corner of 12th and arbutus in a 6 cap, retail or strata ofďŹ ce possible, the acclaimed LUZON development. Arbutus Greater Vancouver or Kelowna, quick close corridor, huge development in the immediate for a good property. area coming soon. $2,988,000 Contact Kris Pope at 604-318-5226 Either multi tenant ofďŹ ce or business park with good return and or upside Up to $25,000,000.
Dexter Associates Realty Commercial Real Estate, Your Trusted Advisors “We are focused on achieving the results YOU want.�
P
FOR SALE: KITSILANO INVESTMENT | ERIC POON ‡ 2 commercial units & 2 residential units / 3 342 sT. ft./ &-2 ]oned site ERIC POON 604.736.5611 ‡ List Price 1.70
FOR SALE: LITTLE MOUNTAIN CHILLIWACK - 59 Lot Subdivision | GARY KHAN ‡ 59 lot subdivision / Little 0ountain &hilliwack ‡ List Price 3 99 000 PRICE REDUCED
GARY KHAN 604.714.4799
SALES . LEASING . STRATA MANAGEMENT . PROPERTY MANAGEMENT
Vancouver 604.736.5611 Fraser Valley 604.590.2444 commercial@macrealty.com
www.macdonaldcommercial.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 n
otice.
Lower Mainland A5
WESTERN INVESTOR JULY 2012 www.westerninvestor.com
APARTMENT BUILDING SPECIALIST KELOWNA
WEST SIDE
ABBOTSFORD
58 Unit/Concrete Highrise Extensive Renovations Gross Income $558,188
11 Units/Penthouse Laundry, workshop, parking Gross Income $133,317
16 Unit Apartment Building Gross Income $111,744 Potential Cap Rate 6.34%
NEW WESTMINSTER
PORT ALBERNI
EAST VANCOUVER
21 Unit Apartment Building Completely Renovated, Views Gross Income $235,885
43 Units/2 Buildings Close to amenities Gross Income $222,893
17 Units/Mount Pleasant Penthouse/Laundry Gross Income $182,311
Plus many other listings! Please visit our website at www.billgooldrealty.com for more information.
604.263.2823
RETAIL SALE/LEASE
RETAIL INVESTMENT
INVESTMENT PROPERTY
RETAIL INVESTMENT
1186 Granville Street, Vancouver 3,000 sq ft development site 3.5 FSR Parking income High exposure location
906 Main Street, Vancouver 4,314 sq ft on two levels High exposure corner in trendy location 3FTUPSFE IFSJUBHF CVJMEJOH t )JHI DFJMJOHT (BT t QBSLJOH TUBMMT
1088 Seymour, Vancouver 1,188 sq ft Tenanted - 5 year lease High exposure corner Downtown location
2780 Arbutus Street, Vancouver 5,791 sq ft building on 9,375 sq ft lot Key corner location Care free management Long term income stability
1738 West 2nd Avenue, Vancouver 1,086 sq ft retail strata east of Burrard "JS DPOEJUJPOFE t 2VBMJUZ JNQSPWFNFOUT Underground parking Vacant possession
James Bayley, Meghan Kennedy
James Bayley, Meghan Kennedy
James Bayley, Meghan Kennedy
Don Mussenden
Conor Finucane, Howard Malchy
INDUSTRIAL SALE/LEASE
INVESTMENT STRATA
INDUSTRIAL SALE/LEASE
EXPOSURE LOT FOR SALE
DEVELOPMENT OPPORTUNITY
1263 Clark Drive, Vancouver 3,063 sq ft showroom/office/warehouse "NQMF QBSLJOH t 1BSUJBMMZ BJS DPOEJUJPOFE Includes 1,300 sq ft office
1779–1799 Kingsway, Vancouver 3,005 sq ft ground floor strata High exposure corner location Approx. 6% cap rate Fully leased until Dec 31, 2015
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
1161 Kingsway Avenue, Port Coquitlam 39,726 sq ft lot 2,000 sq ft building M-2 industrial zoning Excellent exposure
2450 Ticehurst Lane & 2455 Gately Avenue, Port Coquitlam TR GU TJUF t 3JWFS GSPOUBHF 48,571.5 sq ft of buildable density
Mitch Ellis, Ryan Saunders
Conor Finucane
Rand Thomson
Phil Gibbons, Steve Caldwell
James Bayley, Tom Bakker, Chris McIntyre
OWNER/USER INVESTMENT
DEVELOPMENT SITE
INDUSTRIAL SALE
INDUSTRIAL SALE
INVESTMENT OPPORTUNITY
13061 King George Boulevard, Surrey 5.34 acre site Residential/Industrial per OCP Between Scott Road & Gateway stations NEW PRICE!
10 - 13550 77th Avenue, Surrey TR GU t "NQMF QBSLJOH Automotive allowed Excellent access to King George Highway
54370 Bridal Falls Road, Chilliwack 14.165 acres Development potential Exposure and access to Highway 1 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
Rand Thomson, Sebastian Espinosa
Tony Capolongo, Sebastian Espinosa
Rand Thomson, Sebastian Espinosa
Steve Caldwell, Murray Wills
Pr ice
Re du ce d
LOT FOR SALE
Pr ice
Re du ce d
&YQPTVSF QSPQFSUZ t (SBEF MPBEJOH
King
17597 55th Avenue, Surrey 5 strata units totalling 11,287 sq ft Priced to sell at $123.00 per sq ft Many extras Steve Caldwell, Tony Capolongo, Sebastion Espinosa
George Blvd
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 07/2012.
A6 Lower Mainland
www.westerninvestor.com JULY 2012WESTERN INVESTOR
-BCPVS TIPSUBHF 5SZ QBZJOH B QSPQFS XBHF n the past 12 months about 4,000 people left B.C. for Alberta. Others have packed up and moved to Saskatchewan and hundreds have decamped for Manitoba, even Ontario. A lot of these are skilled young workers leaving at a time when B.C. employers and the provincial government are moaning about a severe labour shortage. In the past year, B.C. has seen near zero population growth from people moving in from other provinces, even though the beautiful West Coast has the mildest, greenest environment. Well, guess what? If B.C. private employers paid people what they’re worth a lot less workers would be fleeing the province and a lot more Canadians would be coming in. We know what it takes to convince a young family to move from Richmond to Moose Jaw in the middle of winter. It is called an affordable life. Among the western provinces, B.C. employers pay their workers the least, and now they will be paying foreign workers even less than that. A 2011 study,Earnings and Employment
*
Trends, prepared for the B.C. government, notes that, “wages in B.C. have slipped from first to last place” in Western Canada since 2001. Statistics Canada’s latest labour force survey found the average weekly wage in Alberta last year was $969.36, up 42 per cent in a decade. In comparison, B.C.’s average wage was $837.37, despite the fact that B.C. has more workers with university or college degrees than any other western province. In the past decade, B.C.’s average wage has risen just 25 per cent, while housing costs nearly doubled, gas prices pumped up 115 per cent and provincial sales taxes jumped (even if you discount the consumer-gouging 12 per cent harmonized sales tax). The Earnings and Employment Trends study unearthed some other findings. Nearly one in five British Columbians (19.2 per cent) is self employed, the highest rate in Western Canada. A likely reason: people can’t earn enough working at a full-time job. Concerned about a labour shortage, B.C.’s big idea to recruit more skilled foreigners under its Temporary Foreign Workers Program is to allow employers to pay them 15 per cent less than the typical B.C. wage.
8&45&3/ 1&341&$5*7&
$368,000 MLS# H3120147
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353 WATER ST.
LD SO
EW N
d
Western Investor presents our annual Prairie Horizon feature, detailing the most explosive – and nation-tilting – economic growth ever seen, and how to get in on it. We report on how to convert older builders into more profitable green and sustainable assets. Angel investors pay a visit. Our regional reporters file from Edmonton, Gimli, La Ronge and Prince George. Plus, we present all the news and commentary needed by western investors.
ADVERTISING DEADLINE AUGUST 2012 issue: July 16, 2012
FRANK O’BRIEN EDITOR wieditor@biv.com
• • • •
$359,900 1892 Park Street, Agassiz 4-Corners, Large lot. Original owner for 40 yrs. Approved plans for 3 storey expansion, owner will carry portion.
/&95 .0/5)
INVESTMENT OPPORTUNITIES IN WINDSOR, ONTARIO BILLIONS IN WINDSOR ECONOMIC DEVELOPMENT
48263 Yale Road, Rosedale When can you find this for the price? .57 Acre park-like lot backs onto Hope River. 2-level 2269 sqft home. Separate entrance. Work shop, green house, nut trees. MLS# H1104767
Yeah, that will help a lot. Case in point: recently a veteran B.C. condominium developer began selling trendy new condos in San Francisco for about the same price as in Vancouver. But he noticed a huge difference in the buyer incomes. In San Francisco, most of the young buyers were making north of US$130,000 per year and could easily afford the $700-per-square-foot prices. “Vancouver just doesn’t have those kind of incomes,” he said, “but the home prices are the same.”
Publisher Cheryl Carter Editor Frank O’Brien Contributing Writer Mark Fernandes, Dave Husdal, Geoff Kirbyson, Glen Korstrom, 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 1G2Subscriptions and Advertising Sales Tel: 604-669-8500 Fax: 604-669-2154 Canada/U.S. toll-free: 1-800661-6988. 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.
Dennis Padgham 604-378-8776
DUPLEXES $120,000 - 6 bedroom $1,850/month 79,000 – 3 bedroom $13,00/month 129,000 – 4 bedroom $1,800/month $170,000 – 6 bedroom, 4 bathrooms. Ideal student rental. Many more duplexes.
620 SEYMOUR ST.
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
POWER OF SALES Starting @ $40,000
Sales Representative Toll Free: 1-877-443-4153 Cell: 1-519-563-7475 Email: almith.soldit@sympatico.ca
LD O S
1523 E. PENDER ST.
• SIX STOREY PLUS LOWER LEVEL, COMMERCIAL OFFICE AND RETAIL BUILDING • PROMINENT CORNER GASTOWN LOCATION AT WATER AND CARRALL ST. • CHARACTER INVESTMENT PROPERTY IN GASTOWN • LOT SIZE: 13,647 SF (APPROX) • ZONING: HA - 2 LIST PRICE: PLEASE CONTACT THE EXCLUSIVE LISTING AGENT
SINGLE FAMILY Starting @ $60,000 $900/month or more
Allen Smith
LD O S
21 WATER ST. - THE PACKING HOUSE
MULTI – UNITS Starting @ 120,000
• Great Property Management Team in Place. Don’t Delay Call Al Today, for all your investment needs! • I specialize in investment properties and power of sales. 90% of my clients are out of town investors. Let my 15 years work for you! • I presently work with clients from the GTA’s Biggest Investment clubs and Western Investors.
a shaw.c ham@ g d a p ennis
LD O S
STUDENT RENTALS Starting @ $75,000 $300-350 per room
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611 POWELL ST.
57 E. CORDOVA Main level live/work unit
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:
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Call or email for listings (1000's) & Economic News Exciting times in Windsor to be an Investor. Low vacancies and high returns with great prices
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 ͳ2 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 verified. All measurements quoted herein are approximate.
Lower Mainland A7
WESTERN INVESTOR JULY 2012 www.westerninvestor.com
FOR SALE – 308 Forbes Avenue, North Vancouver
FOR SALE – 3600 Viking Way, Richmond
s 47 modern, well maintained rental suites s -AJOR RENOVATION COMPLETED IN s 0ANORAMIC VIEWS OF "URRARD )NLET s 0ROMINENT LOWER ,ONSDALE LOCATION s 3ECURED UNDERGROUND PARKING
s 46,241 sf single-tenant building s 100% leased to Quantum Murray LP s Large 3.094 acre site
3PC (SFFS $ISJT 8JFTFS FOR SUBLEASE – 9500 Glenlyon Drive, Burnaby
.BSL )BOOBI 3PC (SFFS FOR SALE – Village Square, Bowen Island
s #LASS ! OFl CE SPACE AVAILABLE IMMEDIATELY s 7ELL BELOW MARKET RENTAL RATES s "UILT IN TO A ,%%$ 'OLD 3TANDARD s !MENITIES INCLUDE ONSITE l TNESS CHILDCARE eateries and abundant free parking
(MFOO (BSEOFS 1FUFS +FOLJOT FOR LEASE – 1 Eighth Street, New Westminster
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
.BSL )BOOBI 3PC (SFFS FOR SALE – 66 Duncan Avenue West, Penticton
s 0REMIER SF #LASS ! OFl CE AND RETAIL SPACE year end -- 2013 completion s ,%%$ 'OLD ENERGY EFl CIENT OFl CE BLDG W LARGE m EXIBLE m OOR PLATES s !DJACENT .EW 7ESTMINSTER 3KY4RAIN STATION s !BUNDANT PARKING AMENITIES SPECTACULAR VIEWS
s UNIT RENTAL APARTMENT BUILDING s TWOS ONES BACHELOR THREE s $IRECTLY ACROSS THE STREET FROM 3AFEWAY 3HOPPER S "#, s BLOCKS FROM THE HOSPITAL s .EW ROOF
$ISJT 8JFTFS
%BSSFMM )VSTU
FOR SALE – 227 StratiďŹ ed Rental Units
FOR SALE – Pantec Mini Storage, Bellingham, Washington
s 24 Princeton Dr - Thompson Manitoba s 4HOMPSON S PREMIER STRATA RENTAL APARTMENTS s 4WO STOREY CONCRETE BUILDINGS s #OMPLETE RENOVATIONS IN EVERY SUITE s !SSUMABLE l NANCING
s ACRES INCLUDING A ACRE VACANT PARCEL FOR FUTURE dEVELOPMENT OF SF COMMERCIAL BUILDING s .UMBER OF UNITS s "TLJOH 1SJDF 64%
3PCFSU (SJUUFO 1BUSJDJB -JECFUUFS 3ZBO ,FSS
%PVHMBT - .D.VSSBZ $ISJT 8JFTFS
FOR SALE – 2405 – 2427 Crescent Way, Abbotsford
FOR SALE – 201 Edson Street, Saskatoon
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
s LEASED TO 'REAT 7EST $ISTRIBUTION ,TD s 4ENANT RECENTLY RENEWED FOR A FURTHER l VE YRS s ,EASE HAS CONTRACTUAL RENTAL ESCALATIONS s ACRE SITE LOCATED IN 3ASKATOON S #. )NDUSTRIAL 0ARK
.BSL )BOOBI 3PC (SFFS
%PVHMBT - .D.VSSBZ #BM "UXBM
FOR LEASE – 11125 124th Street, Surrey s TO SF OF SERVICE INDUSTRIAL SPACE s %XCELLENT PARKING AND ACCESS TO 3KY4RAIN s %XPOSURE TO +ING 'EORGE "OULEVARD
FOR SALE – 1102 Commercial Drive, Vancouver s Rare opportunity to secure a corner location s %NTIRE PROPERTY LEASED TO A SINGLE TENANT WITH TRIPLE NET LEASE s "ELOW MARKET RENTS WITH OPPORTUNITY TO REPOSITION THE PROPERTY s ,EASE HAS h$EMOLITION 3UBSTANTIAL 2ENOVATIONv CLAUSE
.JDIBFM 'BSSFMM +PIO &BLJO
FOR SALE – 13056 114th Avenue, Surrey
.BSL )BOOBI 3PC (SFFS FOR SALE – 1999 Nelson Street, Vancouver
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 – Abbotsford Industrial Land IT SU E O- EAS T L ILD R BU LE O SA
s 'WILLIM 'ARDENS %XECUTIVE 3UITES s FULLY FURNISHED SUITES s OCCUPIED WITH WAITING LIST s #OMPLETE RENOVATIONS CONDO QUALITY s #AP 2ATE
s 22,171 square foot building on 1.07 acres s LOADING DOORS s LEASED FOR YEARS s "TLJOH QFS TRVBSF GPPU
s -ANUFACTURING $ISTRIBUTION "UILDING s SF s /WNER 5SER )NVESTOR /PPORTUNITY
3ZBO ,FSS .JDIBFM (JMM 3PCFSU -FWJOF 3PCFSU (SJUUFO SOLD – 2210 Commercial Drive, Vancouver
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FOR SALE – 8515 – River Road, South Mission
s ,OCATED IN LOWER ,ONSDALE NEIGHBOURHOOD s SF LOT s
s ACRES s - (EAVY )NDUSTRIAL s %XPOSURE ONTO ,OUGHEED (IGHWAY s
.BUU 5IPNBT ,ZMF #MZUI FOR SALE – 701 East Cordova Street, Vancouver s 3& 7AREHOUSE -EZZANINE 3TORAGE s !CRE 3ITE s 3ITE #OVERAGE s %XCELLENT SIGNAGE OPPORTUNITIES s +PIO -FDLZ 4USVBO 4BEEMFS
s 4WO STOREY BUILDING With full basement and parking at rear s /VER FEET OF FRONTAGE ALONG #OMMERCIAL $RIVE s 3IGNIl CANT RENTAL UPSIDE OPPORTUNITY
"MFY .FTTJOB 3PC (SFFS
+PIO &BLJO .JDIBFM 'BSSFMM
FOR SALE – 144 Lonsdale Avenue, North Vancouver
$ISJT 8JFTFS
FOR SALE – 880 Belgrave Way, Delta
+PIO &BLJO .JDIBFM 'BSSFMM
FOR SALE – 2342 Windsor Street, Abbotsford
.BSL )BOOBI 3PC (SFFS
FOR SALE – 5133 & 5137 50TH Street, Chetwynd
s ACRE LOT WITH SF BUILDING ON GROUND m OOR s TON CRANE HEAVY POWER s SF ND m OOR OFl CE s
E D IC CE R P DU RE
s 2ARE SERVICED LAND s :ONED )NDUSTRIAL s AND ACRE SITES s ,OCATED AT -T ,EHMAN 2D "ROOKSIDE !VE
.JDIBFM 'BSSFMM +PIO &BLJO FOR SALE – 9532 194A Street, Surrey E D IC CE R P DU RE
s Located west of Denman Street, one block from Stanley Park s Four storey plus penthouse concrete apartment building s Tremendous upside opportunity on rental rates s Rare opportunity to acquire a premier multi-family asset
+PIO &BLJO .JDIBFM 'BSSFMM
FOR SALE/LEASE – 1455-1475 East Georgia St., Vancouver E D IC CE R P DU RE
s n SF OF /Fl CE 7AREHOUSE AVAILABLE s ) ,IGHT )NDUSTRIAL ZONING s $OCK AND GRADE LOADING s
+PIO -FDLZ 4USVBO 4BEEMFS Avison Young Commercial Real Estate (B.C.) Inc.
A8 Lower Mainland/Services
www.westerninvestor.com JULY 2012WESTERN INVESTOR INVESTOR ALERT
COMMERCIAL MORTGAGES
ROARON
RICHMOND NO.3 RD
s 0ROPERTY !CQUISITIONS s #ONSTRUCTION s 2El NANCING s 3TRATA #ONDO #ORP &INANCING
CONSTRUCTION
PRIME COMMERCIAL INVESTMENT
project construction & infrastructure maintenance
$7,533,000 CAP RATE 5.25% NOI $395,520 UĂŠ Ă•Â?ĂŒÂˆĂŠĂƒĂŒĂ€>ĂŒ>ĂŠVœ““iĂ€Vˆ>Â?ĂŠĂ€iÂ˜ĂŒ>Â?ĂŠĂ•Â˜ÂˆĂŒĂŠ UĂŠ ˜VÂ…ÂœĂ€ĂŠĂŒi˜>Â˜ĂŒĂŠÂœvĂŠĂœiÂ?Â?ĂŠĂŠ iĂƒĂŒ>LÂ?ÂˆĂƒÂ…i`ĂŠ ĂƒÂˆ>Â˜ĂŠ,iĂŒ>ˆÂ?ĂŠ >Â?Â?ĂŠ UĂŠÂŁĂˆ]Ă¤Ă¤Ă¤ĂŠĂƒÂľĂŠvĂŒĂŠĂ‰ĂŠĂˆĂŠĂƒĂŒĂ€>ĂŒ>ĂŠĂ•Â˜ÂˆĂŒĂƒĂŠ UĂŠ ÂœĂ€ĂŒÂ…iĂ€Â˜ĂŠ/ÂœĂœÂ˜ĂŠ iÂ˜ĂŒĂ€iĂŠ ÂˆĂƒĂŒĂ€ÂˆVĂŒĂŠĂŠ ÂœvĂŠ,ˆV…“œ˜`ĂŠÂ?ÂœV>ĂŒÂˆÂœÂ˜ĂŠ UĂŠ-iVĂ•Ă€iĂŠ-ĂŒ>LÂ?iĂŠ Â˜Ă›iĂƒĂŒÂ“iÂ˜ĂŒĂŠ"ÂŤÂŤÂœĂ€ĂŒĂ•Â˜ÂˆĂŒĂžĂŠ UĂŠ œ˜}ĂŠĂŒiÀ“ÊÂ?i>ĂƒiĂŠĂœÂˆĂŒÂ…ĂŠLĂ•ÂˆÂ?ĂŒĂŠÂˆÂ˜ĂŠĂ€iÂ˜ĂŒĂŠiĂƒV>Â?>ĂŒÂˆÂœÂ˜ĂƒĂŠĂŠ
s SUBDIVISION CONSTRUCTION s BUILDING ENVELOPE s CONCRETE ASPHALT SEALING s STRUCTURAL REPAIR s ROOlNG WATERPROOlNG s PARKING LOTS PARKADES
BUSINESS LOANS s -ERGERS s !CQUISITIONS s %XPANSION s ! 2 s (EAVY %QUIPMENT s -ACHINERY s 4RUCKS s 4RAILERS
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604-552-4392 WWW paramountFINANCIAL.biz
Call James Lee (604) 671-1811 developbc@gmail.com
www.roaron.com
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Commercial Mortgage Financing TMG Commercial provides prime commercial financing for a wide range of commercial projects such as: Â&#x; Multi-family (rental) apartment (CMHC and conventional)
Brian D. Kennedy 604-331-2211
Jonathan P. Wong 604-331-2218
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Wayne Barnes Phone: 604.707.6318
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The Mortgage Group Commercial www.tmgcommercialmortgages.com Dennis K. Aitken 403-205-8203
Daniel Stewart 403-205-8202 The Mortgage Group Canada Inc. Suite 105 - 1385 West 8th Ave., Vancouver, BC V6H 3V9
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A9
WESTERN INVESTOR JULY 2012 www.westerninvestor.com
FEATURE Developers find that blending even industrial with residential can prove a winning formula
.JY UP UIF NBY decade ago, Westbank Projects Corp. built Shaw Tower on the Vancouver waterfront, a structure designed by architect James Cheng, whose design reflected the mix of office and residential space.
"
The 42-storey tower, completed in 2005, boasted 16 stories of office and 24 stories of condominiums split between live-work units and private residences above. But what was innovative a decade ago has given way to more intensive uses today. Westbank’s latest project, Telus Garden, is being designed by Henriquez Partners Architects to incorporate a 22-storey office tower, 420 condos, retail space and a restaurant. Henriquez orchestrated the massive redevelopment of Woodward’s, which incorporated a number of traditionally competing uses in a single project: social housing as well as market condos; retail and office space, as well as a campus for SFU’s School for the Contemporary Arts; community space and the preservation of heritage elements in accordance with the site’s landmark nature. The project has been hailed as a success – but firm principal and lead architect Gregory Henriquez said the velocity with which mixeduse projects are coming out of the ground are demanding ever-more-sophisticated solutions. “We are tackling more-complex projects every year,” Henriquez said. The impetus to mix uses isn’t unique to Telus Garden, which will not only be home to Telus’ head office but a blend of technological sophistication and environment-friendly building features. How projects got so complex is another matter.
Photo: Real Estate Board of Greater Vancouver.
WESTERN INVESTOR
While strong appetite exists for elegant mixes of uses that make the most of sites, even developers such as Daryl Simpson, senior vice-president at Bosa Properties Inc., pause for a moment when considering where mixeduse projects have come from. The standard starting point is the Capers building at 2211 West Fourth Avenue, completed in 1993. It was innovative for the time, blending ground-level retail with offices on the second floor and 78 units of residential above. Geothermal heating was also part of the mix, in a heavily used transit corridor. Today, Simpson said a similar model is being TOP: Woodward’s: SFU campus, retail, offices, social housing applied to highrise projand condos blend together in Downtown Eastside. ects. LEFT: Century Group has started a large hotel-condomini“You look at a project um-retail mixed-use project in central Surrey. like Jameson House,” he said, referring to his Simpson’s argument underpinned the But if such projects have traditionally been own company’s 38-storey tower at 838 West Hastings Street. “It’s got retail, it’s got office, Woodward’s project, which was designed to driven by municipal priorities, developers and it’s got residential and it’s got heritage recla- revitalize the surrounding area after a long investors are also starting to see the advandecline accelerated by the closure of the tages. mation.” Relatively high land prices in the Lower Woodward’s department store in 1993. But it also lies behind the push for densi- Mainland are a prime argument for extracting )FBEZ NJY Simpson throws in the heritage reclamation fication along the Lonsdale corridor in North more value from each site. However, Simpson as a fourth use, or mandate, the building was Vancouver, where the city has welcomed proj- added that the financial crisis of 2008 has led expected to fulfil. But even in Burnaby, a sub- ects by Wesgroup and others. developers to seek opportunities to blend comurban environment outside the region’s primary North Vancouver’s aim to make Lonsdale mercial and residential financing. Similarly, investors find the mix of uses urban core, Bosa’s 43-storey Sovereign tower Avenue a hub, not just a transportation corrioffers four kinds of uses: ground-floor retail, dor, has allowed Wesgroup to proceed with an appealing because commercial space often second-floor commercial, 169 hotel suites and 84-unit project at Lonsdale and 13th Street that provides either job opportunities or consumer 202 residential condos. includes 60,000 square feet of space forNorth amenities. Some projects may also feature com“Cities are wanting to see this,” Simpson Shore Credit Union’s head offices and a retail munity amenities as a result of contributions negotiated during the application processes. explained. “They want to activate their side- banking location. “Buyers are not wary of buying in a building walks, so retail is almost a given. They also Onni is also seeking to develop 80,000 want to have more employment-generating square feet of office space at the same inter- that has a multiplicity of uses,” Simpson said. use, so they often want a second, or second and section as part of a two-tower development “It gives them a greater opportunity to rent their third floor, that have 50 or 60 or 70 employees including more than 360 residential units and suite out.” that can further enliven the neighbourhood.” a grocery store. Please see Vertical page A10 Photo: Century Group
PETER MITHAM
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MEHRAN MOALLEM 778- 858- 9025 mehranmoallem@gmail.com
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Industrial space in S. Burnaby Over 1500 sq ft in 5 year old prime central location fully improved to suit most needs (½ office ½ warehouse w/ loading overhead door)
Fast food Downtown Vancouver Location Location Location. in business for many years right across the Stadium. Seller will train. A must see.
NT T EA ME GR VEST IN
D CE DU100K E R $ BY
Industrial space 7000sq ft space & land, 2 offi ces, 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
0K /
E
ACR
$11
38 Acre land Britannia Beach Sea to Sky Hwy holding property or build, 45 mins to Vancouver or Whistler. Motivated Seller $4.2 million
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
8
$12
WANTED
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
B U S I N E S S E S AL
ION FESS PROFICE OF
Organic Make up MFG $300k net income
Richmond 6000 sq ft
$2.2 Million Share Sale 18 years
Print Shop Commercial Scale
Greater Van 6000 sq ft
$495k 20 years
Retail space fully improved Retail Space 1238 sq ft many uses, ideal for Strata medical, dental or ... Dunbar Vancouver $859k 4 Res. Units ESS TY SIN ER BU PROP &
LD
Why Rent? Replacement
Squamish w/ suites totally updated Cost
Mill work & Woodworking $500k sales $180k net
North Van 5700 sq ft
$300k 4 years
Coffee Shop & Crepe $220k sales $85k net
Vancouver 1100 sq ft
$129k 12 years
Shoe Store Industrial retail "with property" Great income 5000 sq ft & woodworking/ cabinet UBC FOOD Court business Port Coquitlam $1.3 Million $300k sales $85k Net
SO
DT Vancouver $299k 376 sq ft on Mainland
Huge Growth Potential
UNDER CONTRACT
DT Vancouver Many years in business
NEW
UBC 450 sq ft
$99k 8 years
GUARANTEED TRAFFIC
Mini Market $1500k sales $150k
Coquitlam 2300 sq ft
$299k 3 years
SOLD
Florist 3 years old, great location
North Vancouver $69K
Food Court Business Shopping Mall Industrial space 1600 sq ft Greek Food 5 years old Franchise or no Franchise Central location must sell, Rented month to month, make an offer Burnaby $367k
SOLD
$99K
www.Bonded Business Brokers.com
A10 Lower Mainland
www.westerninvestor.com JULY 2012WESTERN INVESTOR
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
Office/Industrial For Lease 2nd Floor 1691 East Pender
Flexible zoning. OfďŹ ce/warehouse, light manufacturing 5,715 sf. $6.82 /sf. Available immediately. Near corner of Commercial & Hastings.
Lonsdale Ave, North Van. Income property, 4 stores, underground parking Asking $4,150,000
Chinatown Investment Prop 416 Main Street LD
SO
Growth potential in emerging area. High exposure & foot trafďŹ c. Established tenant Asking $1,225,000
For more details: Success Realty & Insurance Ltd.
JORDAN ENG (604) 728-0883 jordaneng@telus.net
7&35*$"- from A9
Commercial developers are also wise to the opportunities. Oxford Properties Group’s new office tower at 1021 West Hastings Street will be integrated with the adjacent Marine building, a heritage property. The two buildings will share facilities, making better use of existing resources. “We’re able to reposition the Marine building with this development because it’s actually going to tie into the back lobby of the new tower,� explained Chuck We, director of leasing for Oxford, to commercial realtors at a recent NAIOP meeting. “Marine-building tenants will now be able to get direct access into the parking. ... We’re [also] able to now develop about 25,000 square feet of retail, which wouldn’t have served the [Marine] building on its own, but now that it’s part of the complex we’re able to do something with it.� New Westminster planners saw a similar opportunity with Merchant Square, a 130,000square-foot office project Uptown Property Group Inc. is set to complete by 2013. Its parking area will be shared in off-hours with patrons of the adjacent 90,000-square-foot civic centre that will host a public library, museum, theatre and convention space.
4UJSSJOH UIF NJY
Some developers are pushing the mix even further, combining industrial and residential. That is the scenario forAmacon’s New Haven
Business Park in south Burnaby. The 52-acre project includes 500,000 square feet of industrial and 96 townhomes. The first-ever marriage of warehouses and homes appears to have worked: the first phase of industrial space has been fully leased and all the homes have sold. The latest mixed-use development in the Fraser Valley was launched in early June, as Century Group began Surrey’s first hotel and residential project in Surrey City Centre. Morgan Crossing, one of the largest retailresidential projects in the region, is already a success with 444 condominiums and 430,000 square feet of retail, according to developer Larco Investments Ltd. Given the growing range of demands planners are placing on projects, from affordable housing to low-impact construction and transit access, both Henriquez and Simpson see the mixed-use trend continuing. “The rezoning process forces society to look at what their values are, and sometimes the political forces and the economic forces and the social forces all weigh in to create something quite complex,� Henriquez said. Metro Vancouver developers and consultants have become more adept at meeting the various forces at play. “What we’re doing is creating vertical villages as opposed to the village of 10, 15, 20 years ago, where there were three or four standalone buildings with separate uses,� Simpson said. “We’ve now stacked them on top of each other and we’ve created the same thing, on a smaller footprint.�◆
Each office is independently owned and operated.
Island, Ontario & Alberta Blenz Franchises ........................... $139,900, $188K, $259,000 - $488,800 Steamrollers Franchises Available Wired Monk Individual Franchise Opportunity Wired Monk .................................................... $160K, Wired Monk New Franchises - Vancouver ............................$262K to $350K depending on location Sandwich Tree master franchise opportunity $235K
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JOHN KLASSEN / BILL BARTLEMAN 604-859-2341 RE/MAX Little Oak Abbotsford RETAIL 2000 sq ft 31776 S. Fraser Way $13.00/ sq ft $4.00 Triple
OFFICE Medical corridor 2309 McCallum 2461 sq ft $15.00 + cam 1200 sq ft $15.00 +cam
WAREHOUSE – NEW 2044 sq ft – 58000 sq ft $4.75 – 5.75 sq ft + cam
WAREHOUSE Townline – 3900 sq ft $5.00 sq ft Gross rent
WAREHOUSE – 30444 Great Northern 2114 sq ft $6.00 sq ft + cam Sale $275,000
PRINT SHOP – building & business with equipment, 26 yrs in business, well established $699,000 GAS STATION, building land equipment included, all updated 3.5 ac land 5 legal lots. $1,288,000 MOTEL 30 rooms well established, good location, building in excellent condition. $1,165,000 RESTAURANT, 27 years in business. Building, land and equipment included $788,000 WHOLESALE BUSINESS VANCOUVER, over 35 years in operation, good location, handling many exclusive products. $48,000 plus stock Please call
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KITSILANO RESTAURANT 2685 Arbutus St. Price: $199,000
Attention
s !RBUTUS n 'RAMERCY 'RILL s SF n SEATS ON PATIO
Agents:
s 3ALES n -IL + .ET s !MERICAN CUISINE %ST YEARS s 0RICED FOR QUICK SALE
$199,000
MIXED USE BUILDING 337/339 E Hastings Price: $1,388,000 s % (ASTINGS s S F ON LEVELS s YEARS OLD n #ONCRETE BLOCK s &ULLY RENTED AT MO .ET s -AIN RESTAURANT n MO ND 4WO BED BATH SUITES MO RD /NE BED SUITE MO 3TUDIO MO s PARKING STALLS AT REAR
LES TWAROG (604)671-7000 1428 W 7th Ave., Vancouver, B.C. To view listings please visit:
www.6717000.com/biz JULY 2012
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REACH QUALIFIED BUYERS FOR YOUR LISTINGS call Gary
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WESTERN INVESTOR JULY 2012
Lower Mainland/BusinessOpportunities A11
Outdoor Store for Sale Vancouver’s premier outdoor paddling store In Vancouver’s busiest tourist area - 8 million visitors/year Three busy waterfront locations in the city Proven profitable sales for 32 years at the same location Ideal for entrepreneur with a passion for the outdoors Retail, rentals, lessons, tours, and online sales Premium product lines - clothing, footwear, accessories Owner retiring $
598,000 plus inventory
chrisladner@shaw.ca
Chilliwack Commercial Excellent buildings, good return. Perfect for new investor $1,350,000 Hotels / Motels Surrey & Langley. Some larger complexes with Flag; some smaller Langley Res. Development Land Some ready to service; some short holding. Close to freeway. Vancouver Development Land Kingsway area – ready for ACTION !
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settles210@aol.com EUROPEAN GROCERY & DELI FOR SALE – Central Chilliwack, BC.
9:AI6 =6>G H6ADC
$140,000
Royal LePage Coronation Park
L:HIH>9: =6>G H6ADC ;DG H6A: REDUCED $29,000 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. 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. 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 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
Sandra Laurino
Inventory and Equipment. Only $69,900 o.b.o.
8.75 AC COUNTRY ESTATE East Chilliwack, BC
Bus: 604.581.3838 Cell: 604.219.7736 www.sandralaurino.com sandralaurino@royallepage.ca
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 ofďŹ ce space. The ground oor is an attractive space with open oor plan, above ground windows - lots of natural light, one washroom and two entrances. The second oor features 9’ ceilings, built in coffee area, two private ofďŹ ces, open reception area and boardroom/3rd ofďŹ ce with private entrance.
The third oor also has 9’ ceilings, three private ofďŹ ces, 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!
4 AC in revenue producing Hazelnuts, 5,893s/f. Architect designed Swiss style home 6 bed 4 baths, 3 garages, 26’ x 41’ shop, chicken barn, green house, & pond, 4.75 AC awaiting your ideas. Level prime property on a no through street. Panoramic mountain view & more. All for only $1,189,900
For more Information please visit www.KafkaRealEstateTeam.com
TRUDE KAFKA cel: 604-791-1304 email: trudek@smartt.com Sutton Group Showplace Realty Ltd.
UĂŠKELOWNAĂŠĂˆ{ĂŠĂ•Â˜ÂˆĂŒĂŠ œ˜`ÂœĂ‰Ă€iĂŒ>ˆÂ?°ÊÊ
ÂœĂ€iĂŠ>Ă€i>°ÊŸLĂ•ÂˆÂ?`ĂŠĂŒÂœĂŠĂƒĂ•ÂˆĂŒÂ˝ĂŠ$11,750,000 UĂŠQUESNELÊ£°ÇÊ VĂ€i]ĂŠĂ“ĂŠÂ˜>ĂŒÂˆÂœÂ˜>Â?Ăƒ]ĂŠ $144,500ĂŠ ]ĂŠ$2.1 M]棊]Ă¤Ă¤Ă¤ĂŠĂƒvĂŠĂŠ ĂŠĂŒÂœĂŠ>``° UĂŠPRINCE GEORGEÆÊ££nĂŠ>VĂ€i]{ĂŠ ĂŠ iĂŒĂ€iĂƒĂŠ }Ă€>Ă›iÂ?]ĂŠÂ>LĂ•ĂŒĂƒĂŠ>ÂˆĂ€ÂŤÂœĂ€ĂŒÂŽĂŠ$3,200,000 UĂŠGRAND PRAIRIEĂ†ĂŠÂ“ÂˆĂ?i`ĂŠ"É,ĂŠĂŠ $130,000 ĂƒĂŒ>LˆÂ?ÂˆĂ˘i`ĂŠ ]ʙ¯ÊV>ÂŤĂŠ U PRINCE GEORGEĂ†ĂŠÂŁĂ¤ĂˆĂŽĂŠ Ă€i>ĂŒĂŠ-ĂŒĂ€iiĂŒ]ĂŠ xĂŠ>VĂ€iĂƒ]棂]xĂ¤Ă¤ĂŠĂƒÂ°v°ÊLĂ•ÂˆÂ?`ˆ˜}]ĂŠ$2.8 MʇÊ f£ÇÓ]xääÊ iĂŒĂŠ ˜Vœ“i°Ê iĂƒĂŒĂŠ>``Ă€iĂƒĂƒĂŠÂˆÂ˜ĂŠ ,ĂŠ*>ÀŽ° UĂŠPRINCE GEORGEÆÊÓxÂŁĂŠĂ•Â˜ÂˆĂŒĂƒĂŠ]ĂŠ ÂŁĂŽĂŠ>VĂ€i]ĂŠ$12,500,000 UĂŠPRINCE GEORGEÆÊÊ ĂŽĂŠĂƒiÂŤĂŠ>ÂŤ>Ă€ĂŒÂ“iÂ˜ĂŒĂƒĂŠÂŁĂ“Â‡ÂŁĂˆĂŠĂ•Â˜ÂˆĂŒĂƒĂŠ UĂŠSUNCOR / MCDONALDS DISP°ÊÊ {ĂŠĂƒÂˆĂŒiĂƒĂŠÂŁĂŽ]Ă¤Ă¤Ă¤ĂŠĂƒvĂŠĂŒÂœĂŠ{ä]Ă¤Ă¤Ă¤ĂŠĂƒvĂŠ UĂŠRAMADA VALEMOUNTĂŠĂ‡Ă¤ĂŠĂ€ÂœÂœÂ“Ăƒ]ĂŠ>Â?Â?ĂŠ >“iÂ˜ÂˆĂŒÂˆiĂƒ]ĂŠÂ˜iĂœĂŠÂŤĂ€ÂœÂŤiĂ€ĂŒĂž]ĂŠĂƒÂ…>Ă€iĂŠĂƒ>Â?i]ĂŠĂŠ ™¯Ê >ÂŤĂŠ,>ĂŒi UĂŠWILLIAMS LAKEÆÊ*ÂœĂ€ĂŒvÂœÂ?ˆœ\Ê£™äÊ °Ê >V iÂ˜Ă˘ÂˆiĂŠfĂ“]Çxä]äää]ĂŠ{ÇÊ >“iĂ€ÂœÂ˜ĂŠ fÂŁ]ĂŽxä]äää]ĂŠxÓÇÊ-°Ê >V iÂ˜Ă˘ÂˆiĂŠfĂ“]ĂŽxä]äää]ĂŠxĂŠ LĂ•ÂˆÂ?`ˆ˜}Ăƒ]ʓi`ˆ>Â˜ĂŠĂžÂˆiÂ?`ĂŠĂ‡Â°Ă“ĂˆĂŠÂŻĂŠ ÂœĂ€iĂŠ œ˜}ĂŠ ĂŒiĂ€Â“ĂŠĂŒi˜>Â˜ĂŒĂƒÂ° UĂŠQUESNELÆÊ/ ĂŠ,>˜V…ÆÊ* 抣x‡ÓΙ‡{™Ç]ĂŠ ĂˆĂŽxĂŠ>VĂ€iĂƒĂ†ĂŠ+Ă•>ÀÀÞ]ĂŠ/ˆ“LiĂ€]ĂŠ }Ă€ÂˆVĂ•Â?ĂŒĂ•Ă€i]ĂŠ ˆÂ?Â?]ĂŠ >ĂŒĂŒÂ?i]ĂŠ ÂœĂ€ĂƒiĂƒ]ĂŠ œ“iĂŠĂ€>˜VÂ…]ĂŠÂœÂ˜ĂŠĂ€>ˆÂ?ĂŠ ĂƒÂŤĂ•Ă€ĂŠ$6,000,000
PETER SEED 604-691-6608 peter@naicommercial.ca
A12 Lower Mainland
www.westerninvestor.com JULY 2012WESTERN INVESTOR
www.naicommercial.ca Commercial Real Estate Services, Worldwide.
RICHMOND s $EVELOPMENT )NVESTMENT ,ANSDOWNE 6ILLAGE $6.1 Million s #OMMERCIAL 2ETAIL 'ARDEN #ITY #AMBIE $6.8 Million
VANCOUVER W/INCOME s 7EST 3IDE X #ORNER 0ROPERTY
$6.3 Million
RICK LUI 604-644-6182 rick@naicommercial.ca
www.naibusinesses.ca RV RENTAL & SALES WESTERN CANADA NEW LISTING 7ELL ESTABLISHED 26 BUSINESS CONSISTENTLY PROlTABLE %XPERIENCED STAFF AND MANAGEMENT /NLINE RESERVATION SYSTEM OVERSEEING A mEET OF OVER RENTAL MOTOR HOMES $11,000,000 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 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 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 REDUCED SUCCESSFUL CAFE RESTAURANT (UGELY POPULAR CAFE IN DOWNTOWN 3QUAMISH !PPROX + ANNUAL REVENUE 2ENT ONLY MTH %ASY TO OPERATE 4URNKEY OPERATION .................................$249,000 inc equip
ALF SANDERSON DELON CHEUNG 604-691-6646
604-691-6654
alf@naicommercial .ca
delon@naicommercial .ca
KALAMALKA LAKE FRONT, NEAR KELOWNA s !CRES WITH -ARINA CAN BE RE ZONED INTO RESORT DEVELOPMENT s 4OWNHOMES OR (OTEL 3TRATA 5NITS 0RICE $7,495,000 42 SUITE APARTMENT BD, KAMLOOPS s 'ROSS )NCOME #AP 2ATE s 6ERY ATTRACTIVE ASSUMABLE #-(# MORTGAGE 0RICE $3,850,000 INDUSTRIAL BUILDING, VANCOUVER s SQ FT FOR 3ALE s #URRENTLY VACANT 0RICE $3,000,000 MOBILE HOME PARK, MERRITT s 'ROSS 2EV .ET )NCOME OF s 'OOD EXPANSION POTENTIAL WITH !CRES 0RICE $1,775,000 RV & MINI STORAGE, CRANBROOK s !CRES EXPANSION OPTIONS TO DOUBLE NUMBER OF UNITS s 'ROSS 2EVENUE .ET 0RICE $1,650,000 MINI STORAGE BUSINESS, MERRITT s 3TORAGE 5NITS AT A CAP RATE s 'ROSS 2EVENUE .ET 0RICE $1,300,000
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 FAST FOOD FRANCHISEE (North Vancouver) -ALL LOCATION + 'ROSS .............................................$228K + Inv 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 INVESTMENT INDUSTRIAL STRATA FOR SALE 102/103 26730 56 AVE LANGLEY s #AP ON ASK 'OOD TENANT WITH NEW YEAR LEASE s SQ FT FOOTPRINT WITH SQ FT OFlCE AND SQ FT MEZZANINE s REAR GRADE DOORS s - ! :ONING s Asking: $689,900 99 PAD-PHASED MANUFACTURED HOME PARK 100 MILE HOUSE AREA s ,AKE !CCESS AND VIEW s "RAND .EW n NO 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 s Asking: $650,000 RETAIL STRIP INVESTMENT DOWNTOWN LANGLEY s #25 S s SQ FT RENTABLE ON A SQ FT LOT s 3TRATEGIC CORNER LOCATION s 02/&/2-! ./) OR #!0 ON ASK s !SKING $2,500,000 JESKE BUSINESS CENTRE Executive OfямБce Suites 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
EQUIPMENT RENTALS (Metro Vancouver) s ,ONG ESTABLISHED s 6ERY 0ROlTABLE s &ULLY MANAGED s MIL ANNUAL SALES Shares $3.0mil EMPLOYMENT AGENCY (Metro Vancouver) SOLD s %STABL YEARS MIL ANNUAL SALES $319,000 DOLLAR STORE FRANCHISE &RASER 6ALLEY SOLD s 3INCE MIL ANNUAL SALES $358,000 + Inv GARAGE DOOR REPAIRS & SERVICE ,WR -NLD s %STABLISHED YEARS s (OME BASED EASY TO RUN s -OSTLY RESIDENTIAL SERVICES s REPEAT CUSTOMERS s )DEAL BUSINESS FOR A FAMILY OF TWO s .ETS TO A FATHER SON TEAM Shares $239,000 DOLLAR STORE FRANCHISE &RASER 6ALLEY s )N BUSINESS SINCE s SF STORE s 0REMIER LOCATION IN A LARGE MALL s ANNUAL SALES ......................... $188,000 + Inv
TED STELLAKIS 604-691-6692 stellakis@naicommercial.ca "52.!"9 s .%7 7%34-).34%2 s #/15)4,!MULTI TENANT 13,244 SF BLDG 6%CAP
$2,350,000
LANDMARK 200 + SEAT BANQUET/RESTAURANT
$195,000
COURT ORDERED SALE RETAIL STRATA/OFFICE
$132/SF
RETAIL STORE + HOUSE NEAR SKYTRAIN RETAIL + OFFICE WITH ELEVATOR
$800,000 $1,850,000
NEW 740 SF RETAIL STRATA READY 2013
$320,000
DON ELLIS, RI 604-691-6668 donellis@naicommercial.ca Tobiano Golf Course, Kamloops BC s #OURT /RDERED 3ALE s &ULLY OPERATIONAL 'OLF COURSE AND CLUBHOUSE s 2ANKED BEST PUBLIC COURSE IN "# TH OVERALL IN #ANADA s PRICE: $5,500,000 10,105 sq. ft. OfямБce Building, Abbotsford BC s #OURT /RDERED 3ALE s STOREY OFlCE BUILDING TOTALING SQ FT s UNDERGROUND PARKING STALLS SURFACE SPACES s REDUCED: $2,495,000
COURT ORDERED SALES 160 Acre Development Site, Abbotsford BC s /NE LEGAL QUARTER SECTION TOTALLING ACRES s :ONED ,5 2 ,IMITED 5SE 2ESOURCE 2ESIDENTIAL PRICE: $3,900,000 459.1 Acre Development Site, Cranbrook BC s :ONED #$ 5( 2 ALLOWING FOR LOW MEDIUM DENSITY RESIDENTIAL s 3URROUNDING 'ARY 0LAYER DESIGNED GOLF COURSE PRICE: $22,300,000 1.37 Acre Residential, Coquitlam BC s /NE LEGAL PARCEL TOTALING ACRES s :ONED 23 s #LOSE TO ALL AMENITIES PRICE: $1,225,000 116.53 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 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: $425,000 1.82 Acre Multi-Family Site, Sechelt BC s /NE LEGAL PARCEL TOTALING ACRES s :ONED #$ MAXIMUM OF UNITS REDUCED! $1,800,000 23.3 Acre Agricultural Site, Delta BC s /NE LEGAL PARCEL TOTALLING ACRES s :ONED ! !GRICULTURAL s %ASY ACCESS TO (IGHWAYS REDUCED!: $2,200,000 27.6 Acre Agricultural Site, Langley BC s /NE LEGAL PARCEL TOTALLING ACRES s :ONED 2U 2URAL &LOODPLAIN s !DJACENT TO .ATHAN #REEK DYKE REDUCED!: $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.
A13
WESTERN INVESTOR JULY 2012 www.westerninvestor.com
FEATURE B.C. pubs and smaller casinos juggle line-ups to find a winning formula in competitive market
)FEHJOH UIFJS CFUT pparently insatiable government demand for gambling revenue and B.C.’s shifting demographic are shaking up two of the province’s favourite sin spots: neighbourhood pubs and small casinos.
"
Today, pubs are mixing better food menus, off-site liquor sales and – inevitably – more gaming to stave off competition from coffee shops and casual restaurants. Some small casinos, meanwhile, are trying to ride the popularity of poker to bring in younger customers as horse racing fades and slots reach saturation. Both may also soon be offering specific wagering during hockey and other sports broadcasts – with customers betting, for example, on which player will score next – underBC Lottery Corp. expansion plans. Burnaby-based publican John Johnston, who also sells pubs across B.C. as a commercial realtor with Prudential Sterling Realty Ltd., has seen the future of pubs, and it is different from the boozy neighbourhood joints of today. “Look at Browns [Socialhouse]. It is just like a pub with a good chef,” he said of the Vancouver-based franchise. “The Cactus Club; most the space is a pub.” Just as neighbourhood pubs replaced smoky beer halls, he said, pubs today are being forced to upgrade esthetics and services to attract a younger, more sophisticated clientele. Change is so important, Johnston said, that whether a pub has been renovated can be more important than location when it comes time to sell. Most B.C. pubs are leased premises and, while capitalization rates are often double digits, vendors will find that typical sale prices are 3.5-times earnings. The real publican potential is to have a private liquor store attached.
Photo: Saskatchewan Gaming Authority
WESTERN INVESTOR
A liquor outlet can sell for five-times earnings, Johnston explained. A liquor store can also generate relatively high income, with operating costs of about 11 per cent of gross. A pub on leased land will likely cost north of $2.5 million in the Lower Mainland, and buyers would need at least 40 per cent down for financing. In some cases, vendors will take back a second mortgage. Anna Korolezk deals poker hands for Fraser Downs Racetrack and Casino general manager Ken Stratton (left) and poker$BTJOPT room manager Matt Parker (right). No-limit, 24-7 poker is the Casinos, meanwhile are latest addition to Surrey’s only gaming facility. also competing with pubs for a share of the entertainment dollar – and who follow events such as the World Series of Poker on TV and often play online. also struggling to find the right mix. “Poker is a way to get more people into the At the Fraser Downs Racetrack and Casino, that mix now includes a 24-7, no-limit casino,” Blank said. “Maybe they will also try poker room. While poker is not a big money some slots or make a wager on horse racing.” Richmond-based Great Canadian stock permaker at Surrey’s only casino, it forms part of an all-in play to keep vulnerable gaming rooms formance is a bellwether for the casino industry. The company posted a $31.9 million loss afloat. The biggest standardbred racetrack in B.C. in the first quarter of this year, compared with now relies far more for income from its 400 slot a $5 million profit in the same quarter a year machines and gaming tables than parimutuel earlier. The loss came despite a 12 per cent rise in revenues, compared with the same period punters. “The people who used to follow standard- last year, to $102.8 million. For all of 2011, the bred racing are literally dying off,” explained company posted a $23 million profit, its first Howard Blank, vice-president of Great in three years. In a conference call announcing first-quarCanadian Gaming Corp., owner of Fraser Downs. “Anything you can add as an adjunct ter results, Great Canadian Gaming CEO Rod Baker said the company is not about to place to racing is a benefit.” Poker does not rake in a loft of cash for many more bets on the sport of kings. Live Fraser Downs, Baker said. The poker is set up horse racing is “a sunsetting business, virtufor tournaments, where players pay a fee to get ally everywhere in North America” with 10 to into a game but the house does not get a share 15 per cent annual declines, Baker said. But of the pot. Poker tournaments have become smaller casinos also face the threat of being popular with young, mostly male, consumers, forced out by bigger players. Photo: Amy Reid / Surrey Now
FRANK O’BRIEN
/BUJWF DBTJOPT IJU . KBDLQPU
Dakota Dunes Casino, Saskatoon.
T
he six native-run casinos in Saskatchewan raked in $267.3 million in revenues in the last fiscal year, and posted a record overall profit of $81.3 million, according to the Saskatchewan Gaming Authority (SIGA). Profit was up 27 per cent from the previous year. SIGA is owned by the First Nations of Saskatchewan, which collects 50 per cent of the profits and distributes it among First Nations communities in the province. Twenty-five per cent goes to the host community of the casino and the remainder flows into general revenues for the Saskatchewan government. SIGA has reported profits of more than $60 million every year for the past six years, according to SIGA president Zane Hansen. In all, the six casinos have 1,870 slot machines and 54 tables, and also sell food and beverages. Hansen said a stronger provincial economy led to an increase in customers at the native casinos. The casinos counted four million customers last year, with the Northern Lights casino in Prince Albert and the Dakota Dunes outside Saskatoon listed as the two top-drawing venues.
The government-appointed BC Horse Racing Industry Management Committee notes that the City of Surrey is considering a major casino expansion. “If carried to fruition, a large-scale [gaming] development would compete directly with the casino at Frase r Downs and likely result in its closure,” the committee stated.◆
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AWARD WINNING BURGER FRANCHISE
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Raj Thind PERSONAL REAL ESTATE CORPORTATION
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 ............................. REDUCED TO $350,000 WEST 4TH AVE RESTAURANT FOR SALE 2000 SF ......................................$460,000
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
Alex Yuen (PREC)
Dir: 604.338.1800 Off: 604.926.6718
778-554-(sold) 7653 rthind@sutton.com
www.rajthind.com
2 LIQUOR PRIMARIES DOWNTOWN VANCOUVER PRICED Ν $1.1M & $1.8M
WEST 4 AVE RESTAURANT FOR SALE 1800 SF .................................................. $250,000
PIZZA FRANCHISE
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604-669-8500
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SELL
DEVELOPMENT SITE VICTORIA FOR SALE 1.74 ACRE 168 UNITS ...................$12.95M
COMMERCIAL BUILDING FOR SALE $1.198M
NORTHERN, BC HOTEL FOR SALE $3.98M
FOR SALE
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alex@alexyuen.ca
A14 Recreational Real Estate LIFESTYLE PROPERTIES sss
www.westerninvestor.com JULY 2012WESTERN INVESTOR
“The Source” for Oceanfront, Lakefront, Islands, Ranches, Resorts & Land in BC at: s
www.landquest.com Èä{ ÈÈ{ ÇÈÎäÊUÊ£ nÈÈ xxn ÊxÓÈή BELL RANCH CHILCOTIN REGION OF BC
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SEASONAL HUNTING CAMP WESTBRIDGE, BC
25 LAKE VIEW ACRES HARRISON HOT SPRINGS, BC
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NORTH OKANAGAN VINEYARD ENDERBY, BC
KOOTENAY LAKESIDE RESORT
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INDUSTRIAL/MANUFACTURING/ OFFICE BUILDING WILLIAMS LAKE COMMERCIAL /BUILDING & LAND CARIBOO REGION OF BC
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UÊ £n°xÊ>VÀiÊ«À «iÀÌÞÊ UÊ xÊ>VÀiÃÊ vÊ}À>«iÃÊ UÊ ÎÊL`À ]ÊÎÊL>Ì Ê }Ê iÊ UÊ - ÌÕ>Ìi`Ê Ê ½ÃÊÜ iÊV Õ ÌÀÞÊ UÊ *iÀviVÌÊv ÀÊÜ iÀÞÊÃ> iÃÊ> `É ÀÊ E Ê UÊ $799,000
UÊ {ÈÊ iÜÊ{äÊÝÊxäÊvÌÊÃiÀÛ Vi`Êà Ìià UÊ ,6Ê ÀÊ*>À Ê `i Ê>VV `>Ì UÊ ,i} ÃÌiÀi`ÊÌ Ì iÊÜ Ì ÊLi>V Ê> `Ê >À > UÊ -iVÕÀ ÌÞÊÜ Ì Ê Êà ÌiÊV>ÀiÌ> iÀ UÊ {äÊ ÕÌiÃÊ ÕÌÊ vÊ i Ã Ê ÊÌ iÊ7iÃÌÊ À UÊ ÀÃÌÊV iÊv ÀÃÌÊÃiÀÛiÊ >À iÊë>Vi UÊ *À Vi`ÊvÀ $65,000
$ENIS $ORE DENIS LANDQUEST COM
$ENIS $ORE DENIS LANDQUEST COM
+ONRAD - 3CHMID -EIL KONRAD LANDQUEST COM
+EN (UNTER ,!.$ KEN LANDQUEST COM
,ARRY ,AING LARRY LANDQUEST COM
HISTORIC MAYNE ISLAND FARM SOUTHERN GULF ISLANDS
PORT BROWNING MARINA RESORT NORTH PENDER ISLAND
ECO–PARADISE HARRISON RIVERFRONT - ACREAGE
LYTTON, BC AIRSTRIP DEVELOPMENT
SHUSWAP LAKE DEVELOPMENT LAND
UÊ ÓäÊ>VÊiÝiVÕÌ ÛiÊiÃÌ>ÌiÊ Ê >Þ iÊ Ã > `Ê UÊ >ÃÌiÀvÕ ÞÊ`ià } i`ÊÈ]äääÊÃvÊ i UÊ *>ÃÌ À> ÊÃiÌÌ }ÊÜ Ì ÊvÀià Ü>ÌiÀÊëÀ }à UÊ £xÊ>VÀiÊ«>ÃÌÕÀi]Ê ÀV >À`ÊEÊÓÊ« `à UÊ i Vi`Ê À}> VÊÛi}iÌ>L iÊ}>À`i UÊ >À}iÊL>À ]ÊÜ À à «ÊEÊà i` UÊ $1,850,000 ÊÊ
UÊ -iÀ ÕÃÊ`iÛi « i ÌÊ« Ìi Ì > t UÊ Õà iÃÃÊÜ Ì ÊiÝVi i ÌÊV>à Êv Üt UÊ >À >]ÊLÕÃÞÊÞi>À À Õ `Ê«ÕLÊEÊÀiÃÌ>ÕÀ> Ì UÊ x°ÎÎÊ iÛi Ê>VÀiÃÊEÊv Àià ÀiÊ i>Ãi UÊ Óä½Ê ÜÊL> Ê Vi> vÀ ÌÊEÊLi>V UÊ Î]äää½ÊÜ >ÀvÊEÊà i ÌiÀi`Ê> V À>}i UÊ 7Ê*, tÊ$4,540,000ÊÊÊ
UÊ -i v ÃÕÃÌ> }Ê{£Ê>VÀiÃÊ Ê ÜiÀÊ > > ` UÊ Ó]ÇääÊvÌÊà 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>ÞÊÊÊ$1,225,000 Ê
$AVE #OCHLAN DAVE LANDQUEST COM
$AVE #OCHLAN DAVE LANDQUEST COM
$AVE #OCHLAN DAVE LANDQUEST COM
+URT .IELSEN KURT LANDQUEST COM
+URT .IELSEN KURT LANDQUEST COM
NEW HOME IN 55+ COMPLEX 100 MILE HOUSE
6.5 KM OCEANFRONT AND 1,300 ACRES - SUNSHINE COAST
1939 HERITAGE BOUTIQUE HOTEL POWELL RIVER, BC
7.5 AC OCEANFRONT, 15 RESIDENCES & PRIVATE DOCK - SUNSHINE COAST
LIKELY HOTEL LIKELY, BC
UÊ £]ÎääÊ>VÀiÃÊ ÊÈ°{nÊ Ê vÊ Vi> vÀ Ì UÊ ÎÊÌ Ì iÃÊ vÊ > `°Ê< }ÊrÊ£äÊ>VÊ Ê«>ÀVi à UÊ ÓÊ Àià ÀiÊ Vi ÃiÃÊ> `Ê>Êà } v V> ÌÊ Ì LiÀÊV « i Ì UÊ iÝÌÊ` ÀÊÌ ÊÜ À `Ê > ÕÃÊ > LÕÊ,>« `ÃÊ > `Ê*À ViÃÃÊ Õ Ã>Ê iÌÊ UÊ $3,750,000
UÊ £ Î Ê iÀ Ì>}iÊL ÕÌ µÕiÊ Ìi Ê UÊ ÊÀ Ã]Ê ii«iÀÃÊÀiÃ]ÊÀiÃÌ>ÕÀ> Ì UÊ V>Ìi`Ê ÊÌ iÊ ÞÊ`ià } >Ìi`Ê >Ì > Ê iÀ Ì>}iÊ ÃÌÀ VÌÊ Ê7iÃÌiÀ Ê > >`> UÊ Ê«iÀviVÌÊ viÃÌÞ iÊ «« ÀÌÕ ÌÞÊ Ê iÊ vÊ ½ÃÊv iÃÌÊV Õ Ì iÃÊ UÊ f{Çx]äääÊ
UÊ ää½Ê Vi> ÊvÀ Ì>}iÊÜÉÊ ÃÌÀÞÊ>««À Ûi`Ê Ü>ÌiÀ]ÊÃi«Ì VÊ> `Ê>Ê Àià ÀiÊ Vi ÃiÊ UÊ ÃiÊÌ Ê ià >Ì Ê- Õ `Ê >À iÊ*>À UÊ *Ài >ÀÞÊ >Þ ÕÌÊ ««À Û> Êv ÀÊ£xÊÕ ÌÊ LÕ ` }ÊÃÌÀ>Ì>°Ê-ÕL` Û `iÊ ÀÊ «iÀ>ÌiÊ>ÃÊ>Ê Àià ÀÌÊLÕà iÃÃ°Ê `i> Ê ÛiÃÌ i Ì° UÊ , >`Ê>VVià L iÊ> `Ê«À Û>ÌiÊ` V °Ê$2,900,000
#ARSON $ORWARD CARSON LANDQUEST COM
*ASON :ROBACK *AMIE :ROBACK
*ASON :ROBACK *AMIE :ROBACK
*ASON :ROBACK *AMIE :ROBACK
(EATHER AND -IKE $ILLON HEATHERANDMIKE LANDQUEST COM
REGAL RIDGE COURT ORDERED SALES – OSOYOOS RURAL, BC
MCLEESE LAKE RESORT MCLEESE LAKE, BC
LAKE FRONT LOG CABIN ANDERSON LAKE, BC
BATTLESHIP ISLAND STUART LAKE, BC
LUCRATIVE GENERAL STORE ANAHIM LAKE, BC
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
UÊ ÇÊ >À}iÊ>VÀi>}iÃÊ>Û> >L i UÊ À Ê{ÇÊ>VÀiÃÊÌ ÊÓÓÓÊ>VÀiÃÊ ÊÃ âi UÊ * Ìi Ì > Êv ÀÊvÕÌÕÀiÊÃÕL` Û Ã UÊ *>ÀÌ > ÞÊ Ê , UÊ >â }ÊÛ iÜÃÊL>V ÊÌ Ü>À`ÃÊ"Ã Þ Ã UÊ *À Vi`ÊÌ ÊÃi UÊ Call for price list Ê 3AM (ODSON SAM LANDQUEST COM
UÊ ÝV Ì }ÊÜ>ÌiÀvÀ ÌÊÀià ÀÌÊ «« ÀÌÕ ÌÞtÊ UÊ }Ê iÊv ÀÊÌ iÊ Ü iÀÃÊÀià `i Vi UÊ ÓäÊ,6Êà ÌiÃ]ÊÌi ÌÊà ÌiÃ]Ê{ÊV>L Ã]ÊÜ À à «Ê UÊ £äÊÀ ÊÕ«`>Ìi`Ê Ìi °Ê iÜÊà ÜiÀÊÀ UÊ 1«`>Ìi`ÊÃi«Ì VÊEÊi iVÌÀ V> ]ÊL >ÌÃ]ÊiµÕ « UÊ -ÌÀ }ÊÀiÛi Õi°Ê V>Ìi`ÊÀ } ÌÊ Ê ÜÞÊ Ç UÊ $1,399,000Ê 3AM (ODSON SAM LANDQUEST COM
UÊ £° Ê>VÀiÃ]ÊÓÓä½Ê > iÊvÀ Ì>}i UÊ {ÊL`À Ê }ÊV ÌÌ>}iÊÜÉÊ > `ÊÃVÀ Li`Ê }à UÊ 7 `ÃÌ ÛiÊEÊ}À> ÌiÊv Ài« >Vi UÊ 6 iÞ>À`Ê Ê«À «iÀÌÞ UÊ 7i Ê > `ÃV>«i` UÊ $479,000 -ATT #AMERON MATT LANDQUEST COM
UÊ xnÊ>VÀiÃÊqÊÌÜ ÊÌ Ì iÃÊ UÊ ÎÊÃi«>À>ÌiÊâ }Ê`ià } >Ì ÃÊ UÊ ÕÃÌÊ ÀÌ Ê vÊ` Ü Ì Ü Ê ÞÌÌ Ê UÊ -iÀÛ ViÃÊÌ ÊLiÊ ÃÌ> i`Ê UÊ " Ê } Ü>ÞÊ£Ê UÊ À«>À Ê« Ìi Ì > Ê U $489,000 Ê
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UÊ ÊÓÎnÊ>VÀiÃÊqÊà ÕÌ Êà ÀiÊ UÊ Ê, >`Ê>VViÃÃÊqÊÎääÊvÌÊ7 Ê UÊ Ê Ài>ÌÊÛ iÜÃ]Ê« ÜiÀ]ÊÜ>ÌiÀÊ UÊ ÊÈäÊ ÌÊ«À « Ã> ÊÀi>`ÞÊÌ Ê} Ê UÊ Ê ÝVi i ÌÊ V>Ì Ê UÊ Ê 1 Ê, 1 / " ÊÌ Êf£°£ Ê
UÊ 7>ÌiÀvÀ ÌÊ«À «iÀÌÞÊ Ê+Õià i Ê, ÛiÀ UÊ *À Û>ÌiÊ` V UÊ Ó°Ó{Ê>VÀià UÊ £ÓäÊÃi>ÌÊ Vi Ãi`ÊiÃÌ>L à i Ì UÊ -iÛiÀ> ÊÀ ÃÊv ÀÊÀi ÌÊ UÊ >À>VÌiÀÊ>À Õ `ÊiÛiÀÞÊV À iÀ UÊ $525,000
UÊ 7i ÊiÃÌ>L à i`ÊLÕà iÃÃÊ{ä³ÊÞi>Àà UÊ Î]ÈääÊÃvÊÀiÌ> Ê> `ÊÃÌ V }Ê>Ài> UÊ Ó]äääÊÃvÊ `iÀ ÊÀià `i ViÊ V>Ìi`ÊÜ Ì Ê ÃÌ Ài UÊ > V > ÃÊ>Û> >L iÊV Ì>VÌÊ, ®Ê UÊ Ó `ÊÀià `i ViÊÜ Ì Ê Ü ÊÌ Ì iÊ Êä°{ÎÊ>VÊ UÊ *i>VivÕ Ê,ÕÀ> Ê viÃÌÞ iÊ 2ON 3VISDAHL RON LANDQUEST COM 4/,, &2%%
WESTERN INVESTOR JULY 2012 www.westerninvestor.com
Recreational Real Estate LIFESTYLE PROPERTIES A15
RECREATION FEATURE Half would rent it part time and a third would curb other spending to buy one
4BDSJGJDJOH GPS UIF DPUUBHF WESTERN INVESTOR any Canadians would cut back on discretionary spending, buy with friends or buy a lakefront lot and build later – anything to get their own vacation cottage, according to a survey conducted this spring by Royal LePage Real Estate Services. More than half of those who plan to buy a cottage said they would rent it out part time to help pay for it.
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And paying for it can be a challenge. According to the survey, the typical price in Western Canada for a 1,000-square-foot, threebedroom waterfront cottage is in the $300,000to-$400,000 range and can spike as high as $800,000 in B.C. The survey found that demand for recreational property is starting to heat up after cooling down since 2008. This is being seen in classic Okanagan cottage country, where residential sales were up 18 per cent in April compared with a year earlier in the Shuswap Lake region.
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The Royal LePage report cited Okanagan lakefront cottages in the $400,000 range, down from $650,000 to $1 million a year ago, but even local agents were quick to distance themselves from the numbers. Even Royal LePage president and CEOPhil Soper candidly discounted the price estimates as being “subjective� rather than accurate. One Okanagan agent said a realistic price range today for a lake cottage would be
"WFSBHF QSJDF GPS B UISFF CESN XBUFSGSPOU DPUUBHF Province Manitoba Saskatchewan Alberta B.C. NATIONAL AVG
Average price 2012 $300,000 $290,000 - $450,000 $300,000 - $800,000 $261,000 - $800,000 $110,000 - $1 million Source: Royal Lepage Real Estate Services Recreational Property Report 2012.
Deck at Hummingbird Beach Resort on Mara Lake, B.C.: developer hopes to catch a new wave of recreational buyers.
$300,000 to $700,000, which he said hasn’t changed in two years. “There hasn’t been the massive price changes [that] appeared in the report,� said Steve Gray, a broker at Royal LePage, Kelowna. Among those hoping to catch the next wave of buyers at this price hook is the Hummingbird Beach Resort, which launched its third phase of lakefront cottages at Mara Lake, near Sicamous, last month. “The Royal Lepage Recreational Property Report notes Canadians want three things from a rec property: quiet, four-season use and boating. Hummingbird at Mara Lake has all three,� said Steele Jordan, developer of Hummingbird. Jordan noted Hummingbird has 600 feet of shoreline on Mara Lake, and said that a “real lakeside community has developed around the marina. It’s the classic cabin at the lake most Canadians grew up with.� Hummingbird Beach Resort completed
Photo: Hummingbird Beach Resort
WI STAFF
construction 2009 and all cabins are available to move into this summer. The final phase includes lakefront cabins, creekside cottage sites and beachfront townhomes. Three- and four-bedroom beachfront townhomes and cabins range from 1,400 square feet to 2, 150 square feet and start at $760,000. Cabins averaging 1,071 square feet start at $419,000 and creekside cottage sites range from $191,000 to $269,000. Rentals are not a problem for owners at Hummingbird, but Soper cautions that renting a cottage can be a challenge in some markets.
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“Many Canadians aspire to own a recreational property but potential buyers must understand how they plan to finance their purchase to ensure they can afford it,� Soper explained, because plans can go awry. “While renting out your property is an attractive option, the ability to do so profitably varies by region. Some areas have bylaws that restrict rental activity while other regions have strict noise regulations that might limit your ability to attract renters,� Soper cautioned.◆ – With files from Peter Mitham/BIV
SPROAT LAKE‌Your Summer Playground
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
Sproat Lake
sales@maplesresort.ca 250.218.8266
A16 Recreational Real Estate LIFESTYLE PROPERTIES/Lower Mainland ATTENTION INVESTORS
JUST LISTED ONLY $598,800
12 Suite Apartment Block
8.6% RETURN SOUTH LANGLEY – ½ ACRE 4209 SQ FT – DUPLEX traceybosch.com
TRACEY BO S CH
Personal Real Estate Corporation
“Building Clients for Life”
Wolstencroft
JULY 2012
HIGH EXPOSURE LOCATION Attention Investors 8.6% return! Large Duplex located on ½ acre in South East Langley. 8 bedrooms, 6 baths, 3 kitchens. Currently rented to one long term tenant that wishes to stay. $4900 month rent for the dwellings and the owner still has use of the property for parking or what ever you want. High Exposure location. Loads of parking. Close to U.S. Border. Fantastic investment - Call today! 604-539-SOLD (7653) – toll free 1-877-768-6171 - traceybosch.com
Bee Island A Private Island in Cowichan Lake
York Ave. 1 block to beach Prime Kits location & views Lot: 50’ x 120’, RM-4, Parking Good suite mix Great income property or hold for future development Info pkg. Call:
Live your dream! $925,500
Hans or John Gust 604-263-8800 or hansgust@telus.net
This beautiful natural state secluded island has a custom built high quality 1450 sq’ solar powered inviting cottage making use of natural wood fi nishes. Sited to take advantage of outstanding views & sunsets. Open plan great room, 2 bedrms & bathrms, over height ceilings, picture windows, large surrounding decks, all rms w/french doors, wood fi replace, quality appliances, treatment plant, excellent dock w/Legend Boat. Easily reached by boat & seaplane.
PETER NASH 250.384.0566 d / 855.384.NASH t www.peternash.com
realestate@peternash.com
United Realty
Macdonald Realty Victoria
Recreational Property REPORT 2012
WHAT'S
HOT
IN THE RECREATIONAL PROPERTY MARKET ? View our new report covering 33 of Canada’s most popular destinations.
Visit our Newsroom at: remax-western.ca
Each office is independently owned and operated. *Based on 2011 closed transactions. Source CREA and RE/MAX.
A17
WESTERN INVESTOR JULY 2012 www.westerninvestor.com
REGIONAL ROUNDUP Condo and office towers, large retail projects and industrial strength define city
#VSOBCZ 5IJOL CJH WESTERN INVESTOR urnaby, the third-largest municipality in B.C., has seen its population rise 10 per cent in the past five years with a parallel push of real estate development.
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With the largest new office tower in Metro Vancouver underway, two large new shopping centres planned, towering condo projects breaking ground and industrial sales topping $100 million a year, if you think of Burnaby you have to think big. “Burnaby is the central location that feeds all of Metro Vancouver,� said Kyle Blyth, an Avison Young associate who specializes in Burnaby’s industrial market. Last year, Burnaby posted $127 million in industrial sales, with strata units – mostly small bays priced under $10 million – dominating the action. The industrial vacancy rate in Burnaby, now around 2.2 per cent according to DTZ Barnicke, is expected to rise this year as some – you guessed it – big projects complete. These include the 207,000-square-foot second phase of Amacon’s New Haven development in the Marine Drive area; 98,000 square feet at the Beedie Group’s North Fraser Pointe project; and Tonka Realty Advisors Ltd.’s Glenwood Building 6 on North Fraser Way, where 71,378 square feet will complete by the fourth quarter. Most analysts expect industrial lease rates, vacancy rates and sales volume to be fairly flat this year in Burnaby in comparison with 2010 and 2011.
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The office sector should provide some thrills over the next few years, however. Despite more than 900,000 square feet of vacant space and a vacancy rate in the 10 per cent range, Burnaby
“There is a lot of lease rollovers coming up in the period before 2014 so we think we are well positioned,� Wylie said. While no preleases have been signed, Wylie said there has been interest for space that will come to market at around $35 per square foot. Metrotower III is being built to LEED platinum standards and boasts large floor plates of 16,200 square feet, which may help it attract high-end tenants. In a look at the Burnaby office sector, Avison Young forecasts that “landlords will need to remain competitive� and that “a decline in rental rates may occur� as large Solo District by Appia in Burnaby’s Willingdon-Broadway blocks of sublease space area will be anchored by four highrise towers with more (about 200,000 square feet) than 1,300 homes. It includes a shopping centre, and an are absorbed. office tower with 260,000 square feet of space. Yet, also in the works is host to the largest new office construction is 260,000 square feet of office space in the project underway in Metro Vancouver – and it mixed-used Solo District project, by Appia is being built on speculation. Developments. Toronto-based developer Ivanhoe Cambridge has restarted the first new Class 4PMP CJE AAA office tower in Metro since 2007 next to The Solo District, near the Brentwood Skytrain the Skytrain station at Metrotown. station, is much more than offices, however. The $170 million Metrotower III is scheduled As well as the 13-storey office tower, plans to finish in April 2014. “We have a one-year include a pedestrian-friendly high street for lead on the downtown projects,� said Gordon shopping, to be known as Sumas Street. Four Wylie, development manager for Ivanhoe highrise towers with more than 1,300 homes Cambridge. He is referring to triple-A towers will anchor Solo. The residential towers would by Oxford Properties, Bentall Kennedy and range in height from 39 storeys to 48 storeys, Telus, all of which are expected to complete by according to a report presented by Burnaby’s 2015 in the downtown core. planning director, Basil Luksun. Wylie said Metrotower III, which was started Whole Foods will be anchor tenant at Solo, and then stopped at the parking-level stage as confirmed Jim Bosa, president of Appia the recession hit in 2008, is well placed to draw Developments. Whole Foods, a U.S.-based tenants, even from the downtown. company that specializes in selling natural Photo Appia Developments
WI STAFF
and organic products, has proven to be a key anchor in such upscale malls as Park Royal in West Vancouver. Nearby Brentwood Mall, which covers 500,000 square feet, was bought two years ago by Shape Properties Corp. and the Healthcare of Ontario Pension Plan. Plans are to add up to one million square feet of com mercial space and a residential component, which would fit into the current municipal plan for the area. Lougheed Mall, on the Burnaby-Coquitlam border, is also scheduled for redevelopment, as is Station Square on Kingsway Avenue, where an estimated 330,000-square-foot addition is planned, reports Colliers International. Retail is also in the news at Burnaby’s Metropolis – the biggest shopping centre in B.C. – where U.S.-based mega-retailerTarget is moving in. Target, which is taking over former Zellers space, expects to open in 2013 after a multimillion-dollar retrofit.
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Meanwhile, Polygon Developments has submitted a rezoning application for a 37-storey apartment tower across from Central Park in Burnaby. The development on Patterson Avenue would also include three-storey townhouses, according to a report from the city’s director of planning. The development proposal has 242 apartment and about 81,00 square feet of additional floor space in exchange for an estimated $7.5 million cash-in-lieu contribution to the city’s community amenity bonus fund. Two other highrise condo projects, the Silver and the Met by Concord Developments, have been postponed to the second half of this year, according to Colliers, which recently completed a comprehensive survey of Burnaby’s new-home market. Colliers posted a mild caution on Burnaby’s highrise condo sector due to the “substantial amount of new product� being launched this year, including the Aviara by Ledingham McAllister and Appia’s Solo projects. In all
Please see Burnaby page A18
-PXFS .BJOMBOE
Lot 2 267th St., Aldergrove 7.4 Acres - Development Property
MLS# F1205261 7648 197th St., Langley MLS# F1209538 7339 200th St., Langley $3,950,000 2 Acres - Latimer Plan Townhome Designation $1,695.000 1.1 Acres Townhouse Site
MLS#F1214342 $950,000 32024 Joyce Ave., Abbotsford MLS# F3200806 Land / Building, Prime Location, N.E Cnr of Clearbrook & Hwy. 1 $1,475,000
LAND AREA 0.363 Acres BUILDING AREA 2500sf foot print approx. 3200 sf usable incl. mezzanine ZONING C6 - Service Commercial 34801 Delair Rd., Abbotsford Approved 31 Unit Townhome Site
MLS# F3200006 21722 Maxwell Cr., Langley $2,095,000 5.02 Acres - First Time For Sale
For information on all our listings visit
www.VARINGGROUP.com
MLS# F1209709 7216 Horne St., Mission $1,165,000 Restaurant / Land near Waterfront
MLS#F3200544 $779,000
A18 Lower Mainland
RARE
OPPORTUNITY Established & Profitable
Health Food Store In Downtown Chilliwack
Owner retiring Asking $450,000 Serious buyers Call John 604-846-7666
FOR SALE
FLAGGED HOTEL LANGLEY BC
www.westerninvestor.com JULY 2012WESTERN INVESTOR
INVESTMENT OPPORTUNITIES COMMERCIAL BUILDING $530,000 Downtown Abbotsford 2 commercial tenants plus vacant 3-bedroom apartment above. HUSKY GAS LANGLEY $2,650,000 Husky Gas / C- Store Plus rental income of $66,600.Per / Year. HUSKY GAS HARRISON HOT SPRINGS $1,650,000 Husky Gas / C- Store, Propane 2- Bedroom Living Suite Plus rental income of $18,000. Per/ Year. PRINT and SIGN ABBOTSFORD $650,000 Very Profitable Business Yearly Sales of Over $1.4 mil. JUGO JUICE $99,000 Fraser Valley Established High Traffic Strip Mall Location. MOTEL MISSION $3,150,000 Get it Ready to Flag this Established 40 Room Motel plus Managers Suite on 1 Acre. SHINGLE MILL MISSION 7 Acre Fraser River Water Front Property Improved with Various Buildings and Yard Improvements. Call for Info!
ASHOK KUMAR • 46 FULLY RENOVATED ROOMS
604-855-0800 TF: 1-866-855-0800
• ROOM TO ADD ADDITIONAL UNITS • HIGH TRAFFIC LOCATION • ABSENTEE OWNER • GREAT OPPORTUNITY FOR OWNER/ INVESTOR
#63/"#: from A17
there are 14 highrise condo towers and 15 lowrise condo buildings underway in Burnaby, Colliers reports. Typical prices for highrise condos are in the $460-to-$600-per-square-foot range, with lowrises selling from $385 to $450 per square foot. Residential and retail have both proved successful at perhaps Burnaby’s best-known and most-awarded development, UniverCity surrounding Simon Fraser University atop Burnaby Mountain. Started in 2003, the area now boasts more than 3,000 residents and a thriving retail component, despite having the toughest environmental and societal rules in the province. (When the retail was started in 2004, McDonalds, Starbucks and fried-chicken outlets were banned and businesses were encouraged to buy only “green� products.) The elephant in the room is the former Canada Safeway site – 48-acres in the Edmonds area – that was bought last year by Ledingham McAllister, primarily a residential developer, for $125 million. Safeway had marketed the property with concept plans showing up to seven towers and a variety of midrise properties on a site. “That bears no resemblance or relationship to anything that we’re either envisioning or would come out of a planning process,� according to company president Ward McAllister. “This is going to
604-551-1972
Incredible Location!
Ideal Agri-Business Opportunity 102 acres fairly level land; many possibilities; easy access; in ALR $569,900
Ca
Coquitlam 7
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Richmond
#VSOBCZ # $ Population 227,400 Population growth since 2006 10 per cent Detached-house price $820,000 Office vacancy rate 10.2 per cent Industrial vacancy rate 2.2 per cent
be a very consultive, inclusive, responsible process that’s going to take a long time.� McAllister noted that the purchase price reflected a prime position in the heart of transit-oriented Edmonds. “It’s a hell of a site,� he said. “Everything’s there.� Burnaby’s overall housing market is ranked among the top Metro municipalities for sales and prices. The typical detached house price is $820,000 but spikes to more than $1 million in prime neighbourhoods, according to the Real Estate Board of Greater Vancouver.◆
DONE DEALS
FOR INFORMATION CALL: 604-793-5938
132 acres just past downtown core; select areas provide stunning ocean & island views; in ALR $849,000
Vancouver
BURNABY
DONE DEALS
bobmandair@yahoo.com
1.3 acres with 16 storage bays, ofďŹ ce, 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
Barnet Hwy 7
CHILLIWACK AVIATION PARK UNITS FOR SALE/RENT
$2.9 MILLION BOB MANDAIR
Multi-use Light Industrial Property
North Vancouver
&MFQIBOU JO QMBZ
PRICED FOR QUICK SALE
POWELL RIVER INVESTMENT O P P O RT U N I T I E S
2VJDL GBDUT
COURT ORDERED SALE s 5NIT -ULTI &AMILY 3ITE s BUILDABLE SQUARE FEET s CONDOS TOWNHOMES s /CEANFRONT VIEW SITE s &OUNDATION AND SITE SERVICING
Darren McCartney 604-892-4875 darren.mc@shaw.ca
RE/MAX Sea to Sky Real Estate Squamish
editorial feature will highlight deal ow in Western Canada.
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Please send us the following information: UĂŠ UĂŠ UĂŠ UĂŠ
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Please forward this information directly to Frank O’Brien, Western Investor Editor at wieditor@biv.com.
www.westerninvestor.com 1-800-661-6988
Lower Mainland A19
WESTERN INVESTOR JULY 2012 www.westerninvestor.com
C H I L L I WA C K , B C
DIRECT SALES/ PARTY PLAN BUSINESS
COMMERCIAL KITCHEN
45910 ALEXANDER AVE CHILLIWACK
CHILD DAY CARE CENTRE
Former Municipal Hall, Restaurant, Clothing mfg outlet. Currently a German Club. Also a 2 bdrm Panabode. Room for retail/office.
1045 IVERSON RD. CHILLIWACK
Established Operating Centre near a school and residential area in Chilliwack. Everything in place to take possession today. Call Brett DeFazio 604-701-8351 or David Hall 604-798-9139
R. David Hall
75 Acres above Cultus Lake. 35 acres with house, barn, outbuildings, well, pasture/hay. 40 acres hill side zoned rural residential.
TF: 1-800-795-2955
Homelife Glenayre Realty Chilliwack
rdavidhall@shaw.ca
PRIME
303 Columbia Street
LOCATION
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
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
6 yr old residential / commercial building
HomeLife Bernie Scholz Agencies
5 GAS STATIONS WITH LAND & BUILDINGS
CAMPBELL RIVER WATERFRONT PUB & LIQUOR STORE GROSSING $3.3 MILLION. IN BUSY SHOPPING CENTRE. REDUCED TO $1,450,000 FOR SHARES. QUICK POSSESION.
$2,750,000
Call Bob Livesey (604) 644-3606 rlivesey@shaw.ca
GEORGE WINKLER (604)726-2845
NANAIMO ROAD HOUSE & LIQUOR STORE – OFFERS! 2½ acres. Land & buildings. Asset sale. Includes 2 suites. VENDOR FINANCING 0.A.C. – $925,000
45750 Knight Rd
Asking $120,000
NEW COMMERCIAL KITCHEN FOR LEASE "QQSPY TR GU GVMMZ FRVJQQFE XJUI UPQ PG MJOF FRVJQNFOU SFBEZ GPS DBUFSJOH CVTJOFTT UBLF PVU PS TVQQMZJOH UP BEKBDFOU TFBU QVC Must see to appreciate. 1MFBTF DPOUBDU "NFY 3FBMUZ -UE
LIQUOR STORES, PUBS, HOTELS/MOTELS
SARDIS
• Women’s Fashion Accessories • 4 years building and developing this company • It's now ready for future growth
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 FRASER VALLEY, Gas station, c-store, deli, living accommodation, ½ acre land $599,000 GAS STATION with land and building, over 3 million liters gas and over $1.5 million c-store sales. Priced at $2.4 Mil
15 residential units / 5 commercial spaces
JUST LISTED: POWDER COATING BUSINESS Fully operational. In South Burnaby, ready for turnkey operator. Equipment cost exceeds asking price. $649,900
Projected 4.5% cap rate
NANAIMO 15 + LOT POTENTIAL SUBDIVISION 4 .447 ACRES $1,495,000
INVESTMENT PROPERTY IN CARIBOO Land & Building leased for $4000/mo. $385,000
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.
MOTEL 16 Units, Restaurant & Pub. Over 4 acres commercial land. Lake front on major hwy in Cariboo area. $450,000
For more info, contact Wayne Temple ReMax Nyda Realty 604 703 9292
UPPER FRASER VALLEY, over 8 acres land, gas station, land and building, c-store, house restaurant, all in one price at $1.1 Mil
BARRY BOCK / DON KAYTOR 604-575-5262
Bill Driesen Homelife Glenayre Realty 604 991 1777
CELL: 604-825-8121 OFFICE: 604-859-3141 pammimandair@gmail.com www.pammimandair.ca
604-599-9287
Fax (604) 575-2214 Email: barry_bock@telus.net HOMELIFE BENCHMARK TITUS REALTY
Ray Veenbaas LITTLE OAK REALTY 604 309 0257
www.barrybock.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
GLENAYRE REALTY
RichardRiemersma 604 309 8541
RESIDENTIAL, COMMERCIAL, INVESTMENT & AGRICULTURE
INVESTMENT & REVENUE
FOR MORE DETAILS CALL OR VISIT MY WEBSITE:
PAMMI MANDAIR
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"
A20 Sea to Sky/Sunshine Coast/Vancouver Island For Sale Squamish Waterfront Development Site 36.75 acres
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.
36583 Darrell Bay Rd Southern outskirts of Squamish Phase 1 plans and permits in place Sale Price $9,880,000 DarrellBay.Sunnus.ca Annie Zhang-Braithwaite 1-888-378-6687 ext. 808
ML#V4024655 Main St, Sechelt Now $779,000 Commercial building, 5,300 sq. ft. with excellent tenant located right next to “The Dock� also for sale. Prime location on the main street with upgrades and high visual presence. Triple net lease.
TERRY & PAM B R ACK E TT 1-800-895-4313 terry@thebrackettgroup.com Remax Oceanview Realty SECHELT
SQUAMISH INVESTMENTS 98 Unit Oceanfront Dev. Site $2.1 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
4
Alan Jenner 604-905-9589
www.whistlerrealtor.co or www.allanjenner.com
PRIVATE ISLANDS AND LAKEFRONT ACRES
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Riverfront Pub halfway between Courtenay and Campbell River, Located next to area slated for development, near campgrounds, marinas. $850,000
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Full ownership unit at the KingďŹ sher resort and spa. 600 sq. ft. one bedroom unit. Walk from your living room to the beach. Pool. Spa amenities. $289,000
$495,000 VIEW BCPRIVATEISLANDS.COM WARK REALTY INC.
$699k
RE/MAX Sea to Sky Real Estate Squamish
UĂŠ
73+ Acres mostly cleared, ready for your ideas. Huge shop, 2 bedroom residence some ALR some upland resource. $679,000
For more commercial listings and information on the commercial market in Whistler visit:
allanjenner@wrec.com
1 acre Light Industrial lot
VANCOUVER ISLAND Comox Valley
A very profitable Whistler Restaurant 4368-116&108 Main Street
$859,000
Strata OfďŹ ce Space Dwtn 1,714 sf $325k Strata OfďŹ ce Garibaldi 548 sf $169k Industrial Revenue Property $1.1 mil 10 acre Riverfront Lots $1.175 mil + Retail for Lease off Hwy 99 1,300-10,000 SF Adjacent to Home Depot, Walmart & Rona Commercial Site on Hwy 99 $1.65 mil C-3 gateway site: DP for 82 unit hotel, Zoning for: drive-thru, gas, restaurant
Darren McCartney 604-892-4875 darren.mc@shaw.ca
FOR SALE crepe montagne his popular French creperie restaurant has been in business since October 1997 and has developed a loyal clientele by providing consistent quality food in a cozy and clean environment with excellent service. Since the Olympics, the sales growth has been very strong. Its prime location and proximity to free parking adds to the customers’ convenience. Call Allan for a complete information package.
JULY 2012 WESTERN INVESTOR
604.946.8710
Marie McCooey 1-888-829-7205 mccooey@shaw.ca RE/MAX Ocean PaciďŹ c Realty
NANAIMO | VANCOUVER ISLAND DEVELOPMENT AND INVESTMENT OPPORTUNITIES NEW: ONE OF A KIND DEVELOPMENT SITE Well priced @ $1.95 M. CALL ROB Approximately 5 acres that will accommodate a mixed use of Multi – Residential Designs including Care facilities. Excellent location in the immediate vicinity of the Nanaimo Regional Hospital. Located on the Arbutus Ridge and backing onto a Park, this parcel is part of the Westhill Master Planned Community. All offsite services are completed. Close to a host of new Commercial and Retail Services. EXCELLENT REDEVELOPMENT PROPERTY W/ EXISITNG MOTEL 1.5M, CALL DARWIN 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 ofďŹ ces. Excellent exposure to Highway 19A and great access from rear of property with easy design for underground parking. DEVELOPMENT OPPORTUNITY WITH OCEAN AND CITY VIEWS CALL DARWIN 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.
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Rob Samsom
AACI CCIM FRI PERSONAL REAL ESTATE CORPORATION
1-888-829-7205
www.robsamsom.ca RE/MAX Ocean Pacific Realty
Become part of Canada’s TOP DEBT ELIMINATION FRANCHISE ...be a professional Debt Consultant with 4 Pillars Consulting Group ‡ 3RWHQWLDO WR HDUQ $100K - $200K DQQXDO LQFRPH KHOSLQJ FOLHQWV WR DYRLG EDQNUXSWF\ DQG UHVWUXFWXUH WKHLU ¿QDQFHV ‡ 'HEW &RQVXOWDQW ORFDWLRQV DYDLODEOH WKURXJKRXW 9DQFRXYHU ,VODQG RQ D )LUVW &RPH )LUVW 6HUYHG EDVLV ‡ Turnkey business ZLWK extensive training DQG ongoing support! 'HEW &RQVXOWDQW 3URJUDP /LFHQVLQJ 7UDLQLQJ )HH ONLY $7,000 WR VWDUW WD[HV
BARSBY ON THE MILLSTONE ASKING 1.55 M, CALL DARWIN 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. PARKVILLE COMMERCIAL PRICED TO SELL! CALL BILL Great Opportunity for OfďŹ ce or Medical use - in older home on corner lot in great area. METRO VANCOUVER INDUSTRIAL BUILDING CLOSE TO CITY CENTRE Priced @ $795,000. CALL ROB Located in close proximity to downtown Vancouver and Commercial Drive. Older industrial building on 5,808 sq. ft. of land. Building fully occupies site. Grade level loading door, separate entrance door. Two ofďŹ ces, one half bathroom, great for a storage facility.
COMMERCIAL HARBOUR REALTY LTD
Darwin Mahlum Robert Borden 250.760.1066
Call Cornell 250-756-9239 cornellp@4pillars.ca www.4pillars.ca 4pillarsfranchise.ca/dc/
Information brochure available
VANCOUVER ISLANDS LEADER s ,AND 5SES s $EVELOPMENT )NITIATIVES THROUGH TO COMPLETION s 0ROTECTS AND -ARKETING s )NVESTMENT s )NSOLVENCY s 2EAL %STATE !DVISORS
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PROUDLY CANADIAN
A21
WESTERN INVESTOR JULY 2012 www.westerninvestor.com
INVESTING101 Agencies in place to help protect investors from identity theft and real estate fraud
ichmond homeowner Norman If you are considering title insurance and Gettel, 71, was wondering why he identity theft insurance as prevention, here is had not received his yearly home how they are defined: assessment. • Title insurance covers all legal expenses
When he called the land titles office in Richmond, he was told that his $600,000 house had been sold the previous year, with a $400,000 mortgage registered against it. But Gettel was living in the house and had no intention of selling it. In Gettel’s case, someone had gone into a notary’s office with fake ID to set up the sale of the house. Eventually Gettel’s title was restored; he was not on the hook for the mortgage, but his story remains a cautionary tale about how homeowners should protect their information to avoid identity theft and fraud. Here are the basic precautions every real estate owner should take: • Check your title and credit reports on an annual basis. • Protect your identity: minimize the identification information and number of cards you carry; keep items with personal information in a safe place; shred all unnecessary personal information with a cross shredder; and do not give out personal information on the phone, by email or on the Internet. • Consumers are encouraged to get a duplicate title. A lawyer, notary or real estate agent can obtain such a duplicate for a processing fee, in addition to any professional legal fees. • If you own a rental property, screen your tenants to establish their identities, and ask for references. • Be aware if you suddenly stop receiving mail. In the case of title fraud, the fraudsters may redirect your mortgage statements, thus tipping you off to possible fraud.
related to restoring a title and is also available to existing homeowners long after they have purchased their properties. It provides protection against issues like survey defects, unpaid liens, encroachment issues, construction liens, defects in title, costs arising from building code violations, as well as real estate title fraud. • Identity theft insurance typically covers the cost of dealing with the bureaucratic problems that ensue from your identity being stolen. Real estate scams can take many forms, according to Richard Gilhooley of the BC Securities Commission (BCSC). With this in mind, the BCSC has published an “Investor Watchâ€? to remind people to do their research before they make a real estate investment. There are many types of real estate investments. Some of these investments classify as securities, while others do not. The BCSC only has jurisdiction over transactions involving securities – an interest in a pool of mortgages, an interest in a pool of properties, etc. This is one of the reasons why you need to take your time to assess a real estate investment.
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Real estate-based securities trade as public and private companies. For example, you can invest in a real estate investment trust (REIT) that trades on a stock exchange like the TSX, or you can buy shares in a property when a company raises money through a private placement. The “Informed Investing� section of the BCSC website, at www.investright.org, details
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When real estate-based securities are distributed using exemptions, the risks are similar to those related to private companies. There are also risks associated with the underlying real estate investment. First and foremost, you need to be aware that property values can go down. Additionally, there is the possibility that mortgage or rental payments will not be paid. Furthermore, developers sometimes run into problems – this could cause them to seek more capital, or they could go out of business altogether. All of these risks can affect the value of your investment and your expected returns.
Photo: Better Business Bureau
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tors do not review OMs before the investment is offered to the public.
INVESTING101
Mark Fernandes, Better Business Bureau Problem: House stolen by identity theft Potential loss: $600,000 Solution: Get a duplicate title Best advice: Contact the Better Business Bureau at www.mbc.bbb.org
how different real estate investments are structured. If you buy into a private placement, it is important to understand that you are largely on your own. This is because the company is raising capital through a series of privateplacement exemptions from the prospectus requirement. A private company using these exemptions is not required to give investors the same ongoing disclosure (financial statements or press releases) as a public company.
)PX BSF SFBM FTUBUF CBTFE TFDVSJUJFT TPME You can purchase a REIT through a registered financial adviser or on your own if you do direct investing. Since they trade on stock exchanges, you can buy and sell them in the same way you would do with shares of other public companies. Private placements are generally sold without a prospectus (a formal document required by law when a company wants to sell shares to the public) and without the advice of a registered dealer. Sometimes companies sell these securities under an offering memorandum (OM), a document that provides information about the company and the investment. It’s important to remember that securities regula-
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Understand the risks associated with the investment. Be sure to do background checks on the developer and the person promoting the investment. Take the time to seek advice from someone independent of the investment, like a lawyer or a registered financial adviser.
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If you’re considering a real estate investment and you’re not sure about it, give the BCSC a call. You should call immediately if you think an investment is a scam. The BCSC can be reached toll-free at 1-800-373-6393. You can also email inquiries@bcsc.bc.ca. If you are a victim of title fraud: homeowners’ land titles have limited protection by the Land Titles Assurance Fund, which is administered by the BC Land Title and Survey Authority office. To learn more, visit the website at www. ltsa.ca. Read this complete column online at www. westerninvestor.com.◆
Mark Fernandes is the strategic communications and public relations officer for the Better Business Bureau serving Mainland British Columbia.
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NANAIMO & VANCOUVER ISLAND PROPERTIES FORECLOSURE COURT ORDERED SALES 3 ACRE TOWNHOME DEV SITE Stunning ocean view up to 30 units. $995,000
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 57 ACRES WITH PEAT MOSS 17 acres sub-dividable into 2 acre sites. Located on Beck Lake. Marketing coal tailings for large exportation contacts located on large aquifer for water or sales. $1,100,000
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
CONDOS & HOMES
5 RENTAL HOMES – All together 5 sep. adj. lots. Starting at $169,900 or all for $1,150,000. Seller will finance. 10% down at 3 per.
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
HOTEL WITH WINE & BEER STORE 30 rooms, 2 liquor licenses, pub. Lots of renos. Must be sold due to family matter. Previously listed at $1.8 Mill. Now for quick sale $1.2 Mill
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 RESTAURANT & PUB Opened in 1887 – restored 3 storey masonry building. Home to 145 seat pub restaurant. Full facility kitchen. 8 – 1bdrm suites. Great investment & return.
NANAIMO RESTAURANT FOR SALE OR LEASE Land, building plus parking lot. Fully equiped. Beautifully renovated. 2 lots. $698,000
A22
www.westerninvestor.com JULY 2012WESTERN INVESTOR
COVER Investors get in front of promising economic and real estate recovery across Vancouver Island
*TMBOE¤T UJNF FRANK O’BRIEN WESTERN INVESTOR he 2008 economic downturn was not kind to Vancouver Island. From the Capital Region to Campbell River and the Pacific Rim, promising real estate and resort developments were scaled back and some were stopped cold. Examples range from the luxury Parkside Resort & Spa in Victoria, which fell into receivership shortly after being named the top resort destination in B.C., to the Jack Nicklaus-designed Wyndandsea golf resort at Ucluelot, bankrupt, partially finished and now listed for a third of the price it was accessed at two years ago.
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The boldest project is Harwood Beach Estates five minutes south of Comox, where ultra-luxury detached houses are being built on 26 acres of waterfront by developer Lyons & Noble, with Red Gun Marketing. Of the 14 houses
RIGHT: Fohla Burton of Red Gun Marketing at the Harwood Beach Estates site near Comox on Vancouver Island: $1 million oceanfront houses built on spec. TOP: Coal mining has expanded at the Quinsam mine near Campbell River.
planned for the stunning oceanfront site, two sites have been sold and three houses have been built on speculation. Waterfront lot prices start at $459,000 – there are five of the quarter-acre lots left. The three-bedroom-and-den houses are for sale in the $1 million range. The site also includes a portion of the fish-bearing Little River and extensive green space. While building $3 million worth of houses on spec appears nervy in a market where the average house sells for $350,000, local realtor Scott Fraser of Royal Lepage says it could be a smart investment. “These are luxury houses right on walk-on waterfront and they will find buyers,” Fraser said. He noted that, with the new Harbour Air seaplane flights from Comox to downtown Vancouver, Harwood Beach can be reached from the Lower Mainland in about 15 minutes. The development is next to the BC Ferry terminal that links the Valley with the mainland
Photo: Anna DiFiore
In Campbell River, the closure of a cruiseship terminal followed the shut down of the Elks Fall pulp mill. In Nanaimo, a major convention hotel was abandoned and the city is now offering the downtown site for $1. Yet a visit to Vancouver Island this summer shows that the economy and the confidence appear to be coming back. At Campbell River, the Quinsam coal mine has expanded, adding much-needed new jobs; Victoria has seen resurgence in redevelopment and the Nanaimo real estate market is drawing savvy institutional investors. And, perhaps most indicative of the change, bold spec builders are back in action. In the Comox Valley, residential developments have completed or are building approximately $10 million worth of homes, all on speculation.
Photo: Hillsborough Resources Ltd.
5
at Powell River. Considering what $1 million will buy in Vancouver, Harwood Beach looks like a bargain, Fraser pointed out. There is also confidence east of Comox where Vancouver-based Trilogy Group has launched the 716-acre Cayet mixed-use project along the Island Highway. The award-winning new Vancouver Island Visitor Centre is now the only building on the site, but plans call for a large shopping centre, big-box stores, hotels and hundreds of new homes to be built over the next decade or so. Trilogy is now looking for land buyers as it prepares the infrastructure. Local realtors suspect Cayet will be first – and for a long time – a residential project, since new big-box retail has already arrived elsewhere. Nanaimo-based Rob Borden, a veteran commercial agent with Century 21-Harbour Realty Ltd., noted that Wal-Mart, Costco and Canadian Tire already have big-box stores in Comox and the new regional hospital is to be
built near the existing Island University. Further south is the Qualicum Landing development, a waterfront community of 62 cottagelike houses by Palladian Developments Inc. that has seen steady sales right through the downturn. The unique strata project is built on a former campsite, with walk-on beach access to 450 feet of shoreline. There is also a commu nity swimming pool and clubhouse. All but 11 of the cottages have been sold and the remaining cottages are being completed on spec, says marketing manager Anna Difiore. Basic completed cottages started at $399,000. Most buyers – aging boomers from Alberta, the Lower Mainland and Vancouver Island – are buying for vacation homes, but some are living there year-round. DiFore said typical buyers add upgrades that bring the price closer to the $500,000 range. The three larger cottages closest to the waterfront would likely resell in the $1.2 million range.
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Victoria Commercial Properties and Businesses Howard Johnson Hotel
$4,580,000
Building w/2 Restaurants
$1,500,000
Located in beautiful Sidney, BC. A grocery store which is included in the price (inventory extra) & 2 restaurants.
Wessex Inn Motel
SOLD
$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.
Downtown Salad Bar
$165,000
Well established Franchise Salad Bar which is the only one in Victoria. Easy to operate & good lease in place.
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 fitness room.
Asian Fast Food Franchise
$340,000
Looking for a well established yet modern and newer business? This business has it all. Wox Box is a fast food Franchise located in the Millstream Village Shopping Centre. It is off the Trans-Canada Highway at the entrance to North Langford, British Columbia just 15 minutes from the City of Victoria & minutes away from the Bear Mountain Resort. Millstream Village Shopping Centre has over 45 retail & discount stores, big box outlets & restaurants to choose from. Great opportunity to own a family-run business don’t miss this chance to become your own boss!!
Esso Gas Station with attached A & W Restaurant in Nanoose Bay (Contact for pricing)
Post Office w/Dry Cleaning service
Outstanding exposure, incredible traffi c along the E Island Hwy. Esso service station with attached A&W Restaurant. Self Service gas bar, Propane fi lling facilities, Diesel, Cardlock and full Esso Convenience Store. Traffi 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.
Nationally Branded Canadian Franchise $198,000
Claire Yoo
“When dealing with Yoo, Bus: Óxä°{ÇÇ°££ääÊÊUÊÊCell: 250.858.6775 YOU ARE #1” Toll Free: nnn°{ÇÇ°££äxÊÊUÊ Fax: 250.477.1150
claireyoo@shaw.ca
$198,000
Centrally located in a Plaza, well established, good lease in place.
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
A23
WESTERN INVESTOR JULY 2012 www.westerninvestor.com
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Nanaimo continues to offer a hotel building site next to the convention centre for $1 after an original deal collapsed four years ago. “The city has an open-door policy on that site,� Borden said, adding that large players like Alberta’s First Capital REIT and Northern Property REIT have made it harder for smaller commercial buyers to compete in the multi-family or retail sector. One opportunity could be in the demand for strata office and retail space connected to the medical community, he said. South of Nanaimo, a number of new and redevelopment real estate projects are going ahead this year.
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C Photo: Palladium Developments Inc.
Resales have held up better than the surrounding market, with about a 5 per cent decrease from two years ago. One downbeat: the monthly Qualicum strata fees of $320 per cottage. This seems high, but it does cover maintenance of all common areas and even eaves cleaning. “This is a lock-and-leave-it development,� DiFiore said. The Comox Valley is also seeing an impressive nascent wine industry. The smallBeaufort Vineyards and Estate Winery, which began production just four years ago, captured gold awards for the best wines in Canada at last year’s All Canadian Wine Championships. The Blue Moon Winery, also in the Valley, has captured national awards for its fruit wines. Just north of Comox, a new development is also taking shape at Saratoga Beach Developments, where a 75-acre parcel is being carved into 143 building lots. Meanwhile, the overall residential market is slowly improving or holding steady in most mid-Island markets, according to the Vancouver Island Real Estate Board. Comparing May 2012 with May 2011, the average sale prices across the board’s six zones saw Campbell River increase 6 per cent (to $306,908) and the Comox Valley dip 1 per cent to $361,537. Nanaimo’s average sales price was down 8 per cent to $349,554 from the May 2011 price of $379,410, while Parksville/ Qualicum recorded a 1 per cent decline (to $414,944), Port Alberni/West Coast dropped 13 per cent to $202,256 and the Cowichan Valley increased 8 per cent (to $358,475).
Waterfront cottages at Qualicum Landing have sold well, with prices starting at less than $400,000. The last 11 cottages are being built in anticipation of summer buyers.
After decades in limbo, limited development has been approved for a portion of the long-awaited Bamberton land project in the Cowichan Valley. “People have been trying to rezone the property for 20-plus years now,� said Ross Tennant, development manager of Bamberton Properties. Bamberton Properties bought the 1,100-acre site in 2005 and had plans for 3,200 homes, but the Cowichan Valley Regional District ruled the region needs jobs and industry rather than more homes. Bamberton Properties then scaled back its plans and applied instead to rezone about 300 acres for light-industrial use. Approved plans call for approximately 380,000 square feet of commercial and industrial space.
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In Victoria’s Colwood area, the former Silkwinds condo project – shut down five years ago – is coming back to life after a buyer recently stepped forward. According to Ken Cloak of Colliers International’s Victoria office, the new owner plans to finish a townhouse project on the 1.3-acre site. Also for sale in Colwood is the failed 24.1acre, waterfront Aquattro condo project, listed for $17.5 million through Colliers for Ernst and Young, the court-appointed receiver. Developer Peter Daniel had planned a $350 million development on the site. A total of 585
townhouses and condominiums was to be built. So far, 88 units in a three-storey building have been completed, as well as a one-storey townhome, which are not included in the sale offer. The rest of the site is being marketed. Meanwhile, League Financial Partners has $1 billion worth of faith in Colwood. The Victoria-based developer launched its mixeduse Capital City Centre project this year on 14 acres on what has been known as Colwood Corners. Plans include 12 residential towers, four office towers, residential buildings, office space and a public plaza. It is expected to take more than a decade to build out. Right in Victoria, the derelict 121-year-old Janion Hotel, a Store Street structure left vacant for more than three decades, has been sold to a Reliance Properties of Vancouver for $2.49 million. Reliance also bought the nearby Northern Junk property at the foot of Johnson Street two years ago. Reliance is planning to convert the Janion site into condos and retail. Home buyers are also showing confidence in the still-slow Greater Victoria real estate market, evidenced by a spike of 71 residential sales in May over the previous month, to 659. The average price for single-family houses sold in Greater Victoria in May was $622,387, down from $628,500 a year earlier. Average condo prices, at 312,000, were down from $328,300 in May of 2011, reports theVictoria Real Estate Board.â—†
oal mining was once a major industry on Vancouver Island, and it has recently seen a bit of resurgence. The only underground coal mine in British Columbia is undergoing an expansion that will bring much-needed jobs to Campbell River. In the Comox Valley, a second underground mine is waiting environmental approval in the face of resistance from local environmentalists. The Quinsam Mine was awarded a provincial Mines Act amendment last year to extend its 17-year-old mining operations. Income-challenged Campbell River even “moved� the mine within city boundaries to benefit from taxes. The mine could provide up to 500 direct and indirect jobs. Quinsam Coal Corp. is owned and operated by Vancouver-based Hillsborough Resources Ltd., part of the privately held Vitol Group of Companies based in Switzerland. Meanwhile, the proposed $125 million Raven underground coal mine in the Comox Valley is in the midst of provincial and federal environmental assessments that could take more than a year to complete, and are a prelude to what should be a new round of lively public hearings. The Raven play is led by Vancouver-based Compliance Coal Corp. and is backed by international investors. The metallurgical coal mine would generate 350 direct mine-site jobs and at least 500 indirect jobs in the area, including about 50 positions at the Port Alberni docks, where coal would be shipped primarily to Japan and South Korea, according to Compliance CEO John Tapics. “We believe Raven has a lot of public support in the community,� he said. “I am optimistic we will gain approval to start construction and will have a mine in operation by late 2014.�
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Three Impressive Waterfront Estates
PeterNash.com
CHATEAU DE LIS
EAGLES LANDING
SALTAIRE
An elegant European-style oceanfront estate in No. Saanich. Located on a prime westerly exposure 6 ac gated property w/300’+/- of oceanfront. The impressive Chateau residence of 10,000 sq’ with guest & caretaker accommodation was designed, crafted & built to a very high standard. The property combined with the exquisite landscaping, orchard, greenhouse & 6 car garage makes this property very desirable.
A secluded oceanfront (hi) gated estate of 8.39 acs has outstanding marine views over Haro Strait & of majestic Mt Baker. The luxury residence of 9300 sq’ has been built to a high standard & is designed for a family & guests. The level landscaped grounds have extensive water features, large patios & entertainment areas, tennis court, 3 greenhouses, work shop & aviary. Agricultural zoned. Located in Central Saanich this fine estate is offered at
An inviting oceanfront estate in Deep Cove w/SW exposure & ever changing views. Set in gated private landscaped 2.30 acs +/-. Residence 6000 sq’ sited @ waters edge, second 2 lvl home & small cottage. Easy access lo bank 725’ +/- frontage w/Dock 50’ x 8’ tucked into a cove for all weather & tide use. Swimming pool, hot tub & large patio plus greenhouse. This well maintained property situated in a prime No. Saanich area.
$12,900,000
$6,700,000
$4,350,000
PETER NASH 250.384.0566 d / 855.384.NASH t www.peternash.com
realestate@peternash.com
Macdonald Realty Victoria
West Coast Van Island
s ACRE WATER LEASE WITH LODGE s 'REAT DEVELOPMENT POTENTIAL FOR s !QUACULTURE /YSTERS MUSSELS ETC s -ORE TENURE AVAILABLE FOR LEASE HOLDER s ,ODGE BEING OPERATED FOR lSHING ADVENTURES s -ANAGEMENT IN PLACE AND WILL STAY ON
Contact john@paciďŹ csafaris.com
0ILOT "AY 2ESORT on Kootenay Lake
3.48 acres, 300 ft. of waterfront, serviced RV campsites, 2 modern chalets, rustic cabin and a older mobile. Shower/laundry,boat moorage, sandy swimming beach. Price is for land and buildings only. $995,000 MLS#K206339 NANCY KAISER 250 551-2979 www.onepercentrealty.com www.nancykaiser.ca
A24 Vancouver Island
www.westerninvestor.com JULY 2012WESTERN INVESTOR
PRIVATE OCEANFRONT RETREAT - $1,490,000
-
Business Is Better On Vancouver Island For Sale
Oceanfront cottages & orchard campground 2.25 acres with 310 ft beachfront Close to Nanaimo airport, ferries & amenities Zoned “Tourist Recreational�
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.
Jim Ballard
Coast Realty Group 1-888-716-7001 www.jimballardhomes.ca
TIMBERLANE BEACH RESORT
Beautiful Saratoga Beach COURTENAY, VANCOUVER ISLAND B.C.
OCEANVIEW PROPERTY FOR SALE Port Renfrew: “The ToďŹ no of Tomorrowâ€? 320 acres with stunning views Property is developable into 64 lots
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.
Strata Commercial Unit - Central Nanaimo
$ 849,000
4,417 sq ft office with 12 offices, boardroom, reception and lunchroom.
Commercial Re-Development Property - Downtown Nanaimo 3.46 Acre Light Industrial Property - South Nanaimo
$ 549,000
1.2 Acre Residential Development Site - South Nanaimo
$ 475,000
Commercial Land and Building on Island Highway - Campbell River
Vendor participation will be considered Excellent long-term investment
$ 655,000
2 legal lots on Victoria Crescent with 4,900 sq ft building.
SOLD
Vacant 0.92 acre property.
Residential Development Property - Nanaimo
$ 319,000
4.88 acre property near the Nanaimo Parkway.
Commercial Land and Building Zoned DT-2 - Nanaimo
$ 359,000
1,395 sq ft office building in Old City Quarter.
Phone:
Commercial Land and Building Zoned I1 - Nanaimo
306-227-7760 or 250-749-3232
7,560 sq ft lot with 1,350 sq ft building plus room for expansion.
Email:
blk752@mail.usask.ca
Walk-on waterfront, 2 plus acre site on sandy beach, stunning views. 10 fully self contained units including 6 studio, 3 cabins, and owner/ofďŹ ce home. Asking $ 2.3 Million dollars. MLSÂŽ 328399
Neil Woodrow
250-338-3349
COMOX VALLEY
EMAIL neilwoodrow@shaw.ca
www.woodrowgroup.com
$ 299,000
2 lots on Kerrisdale Road totaling 19,600 sq ft.
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 Light Industrial Strata Unit - Central Nanaimo
$ 199,000
Call for Details
Large warehouse with appointed office space.
Subscribe
8896 Clarkson Drive, Black Creek B.C.
Commercial Property Zoned COR-3 - Nanaimo
$ 319,000
CALL NOW 1-800-661-6988 www.westerninvestor.com
Featured Listings Business Opportunity Established Inn with 41 rooms located in Campbell River. Shows strong positive growth and cash flow over the last five years.
Offered for sale at $3,500,000 Investment Property
Located in Coombs, this 18.81 acre site on the Alberni Hwy includes a mobile home park and commercial lease revenue. Well priced at an 8% cap rate.
Offered for sale at $2,475,000 Family Restaurant and Pub Located on scenic oceanfront property near Campbell River. Features patio seating overlooking the ocean and banquet room.
Offered for sale at $219,000 Business Opportunity Located in downtown Port Alberni. Price includes rental equipment, inventory, parts goodwill and land and building
QUADRA ISLAND PROPERTIES
Offered for sale at $1,900,000
COMMERCIAL OPPORTUNITIES!!
Saratoga Beach Golf Course - Black Creek
250-285-2800 Turnkey Strata Resort! s UNITS MGRgS SUITE s ACRES OCEANFRONT s HOT TUB AND SWIMMING POOL s GORGEOUS LANDSCAPING s CLOSE TO FERRY AND SHOPPING s BORDERED BY PARKLAND s STRATA LOTS IN TOTAL $1,425,000.
Heavy Industrial Property
$2,000,000
Located at Duke Point in Nanaimo this 5 acre site is paved and fenced and includes an approximately 18,000 sq ft building.
$ 1,419,000
37.47 acre redevelopment property with executive style golf course under foreclosure.
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 ESTABLISHED PLUMBING AND HEATING BUSINESS—Nanaimo
$ 175,000
SEWING MACHINE AND QUILTING RETAIL BUSINESS —Nanaimo
$ 180,000
AWARD-WINNING KITCHEN AND BATH BUSINESS—Sidney
$ 199,000
JUMPING JIMINY’S PLAYLAND AND CAFÉ—Nanaimo Well known children’s entertainment business
$
ESTABLISHED PLUMBING AND HEATING BUSINESS—Nanaimo On 7,560 sq ft lot with 1,300 sq ft building
$ 495,000
WHOLESALE DISTRIBUTOR BUSINESS ONLY—West Coast Vancouver Island $ 549,000
Business Opportunity! s LEVEL ACRES s DRILLED WELL s SEWER HOOK UP s PLAY AREA s COMMERCIAL ZONING s LOCATED NEAR BUSY PLAZA s DEVELOP TO SUIT YOUR DREAM $278,000. Call Michael Lynch or Nancy Allwarden for further information on these, or any of our residential/recreational listings. Enjoy an island lifestyle! See more details at:
www.discoveryislandsrealty.ca
RETAIL BUSINESS & DEMOLITION CONTRACTOR —Central Vancouver Island New and used building materials 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 ESTABLISHED EQUIPMENT RENTAL BUSINESS—Port
Alberni
FRANCHISED MOVING AND STORAGE CO .—Central Vancouver Island LIQUOR STORE WITH LAND AND BUILDINGS—Port With Commercial Tenant
$ 775,000
Alberni
$1,500,000 $1,900,000 $2,550,000 $2,600,000
Gerry Van Vaals Personal Real Estate Corporation DTZ Barnicke Nanaimo Ltd. gerry.vanvaals@dtzbarnicke.com
Tel: 1 800 769 5757
www.dtznanaimo.com
Vancouver Island A25
WESTERN INVESTOR JULY 2012 www.westerninvestor.com
Overall sales of Surrey condos are down 12 per cent for the first four months of this year compared with the same time in 2011. Average condo prices in Surrey are now lower than they were five years ago and some brand-new Surrey condominiums are being pre-sold for less than $120,000. Yet more new housands of construction workers condo and townhome units were started in may be seeing more work this year in Surrey in April – 282 – than in the City of northwest British Columbia, as a consorVancouver. tium of resource giants, including Shell Also, banks now want to see 30 per cent to Canada, are planning a $12 billion liqueetro Vancouver sales of real estate 40 per cent of condo units sold in pre-sales fied natural gas (LNG) export facility at assets valued at more than $1 million Kitimat. hit a near-record level in the first quarter of before they will advance construction funds, The project could see millions of tonnes this year, according to a survey by RealNet and lenders are also looking at the quality of the buyers. of LNG exported from Kitimat each year. Rendering shows LNG development at Canada Inc. The survey found that 299 A big change is that many lenders will now What the companies are now calling LNG Kitimat on B.C.’s north coast. large properties changed hands, with a total only consider one unit sold if a single pre-sale Canada would be built in two or three stages, with each capable of producing six million value of $1.2 billion. Most of the big deals investor buys multiple condos in the same tonnes. A news release from Shell says there is an option to expand the project beyond the were in land transactions. project. Lenders are also digging down into 12 million tonne capacity. This was the second-highest sales volume pre-sale paperwork to be sure buyers have Shell’s partners are Korea Gas Corp., Mitsubishi Corp. and PetroChina Company Ltd. for a first quarter since 2007. Total volume, actually put up the cash down payments of While the consortium released no price estimates, reports in Japanese media and from however, was dialled down 16 per cent from from 15 per cent to 30 per cent of the purindustry sources estimate the project could cost as much as US$12 billion. the last quarter of 2011. Shell holds a 40 per cent working interest. The partners each hold a 20 per cent working This year’s volume would have been higher chase price and are qualified to make payments. interest. had the $400 million sale of the Bentall Five In a May 19 promotion at Surrey’s Ascend Kitimat Mayor Joanne Monaghan said the city is getting ready: “Council have been aware office tower in Vancouver, which closed in in Whalley, the project sold 96 per cent of its of it and have rolled up their sleeves for almost a year-and-a-half to two years.� May, been included. 108 units in an hour. Sales agents estimate One aspect was preparing Kitimat for the project, Monaghan said. The first quarter saw a heady pace of land that at least half of the buyers were investors. “We had to make sure there were hospital facilities, rental facilities, that we had housing deals, with residential land sales accounting The Ascend, a lowrise project by Premier available. We were getting all our inventories together. Now we know and now we can go for one-third of sales volume. Together with International Developments Ltd., priced full blast ahead.� commercial sites, land sales made up 52 per condos from $118,800, and Premier paid down She hopes that Kitimat will return to its population peak of between 10,000 and 15,000 cent of the volume. residents. Eight residential land parcels sold for more the mortgage rate so buyers had to pay only $199 per month for the first three years on a “If they have the five to seven thousand construction workers they’re looking for, they than $10 million each, including five in the typical bachelor suite. Such suites would rent will bring in workers from all over B.C., probably all over Canada,� Monaghan said. City of Vancouver. Two commercial land Two other LNG projects in Kitimat are already underway. The Kitimat LNG plant project, deals exceeded the $10 million mark, includ- in the $750-per-month range. At North Surrey’s The Wave, a 500-unit led by Apache Corp., Encana Corp. and EOG Resources, will likely start up in 2015. That ing the $22.1 million purchase of 58 industwin-tower project – the largest in the Valley project has been approved by the National Energy Board but is still awaiting a final go ahead trial parcels by the City of Surrey. – one-third of the 3,350 potential buyers from the boards of the three corporations, expected in the fourth quarter of 2012. In the office sector, six deals were valued who have registered (pre-sales actually start A separate project, BC LNG, owned by the Haisla Nation in partnership with Houstonat more than $10 million each for a total of in June from $179,000) are first-time buybased LNG Partners, will act as broker and exporter for other LNG companies, facilitating nearly $200 million. RealNet reports that ers, one-third are investors and one-third are exports to Asia from a barge-based facility. The first shipment is expected in 2014 or 2015. the average office building sold for $496 per “parents buying for their children,� according square foot with a capitalization rate of 4.7 to Bill Morrison, president of Pilot House per cent. Stawamus Chief rock face is expected to be tion to use Crown land for the project. Real Estate Marketing Inc. The next step would be to get BC Parks approved and built according to Sea to Sky to reclassify more than two of the Chief Gondola principal Trevor Dunn. The Squamish Nation has approved Dunn park’s 517 hectares from parkland to being a protected area. Sea to Sky Gondola plans and partner David Greenfield’s proposal to install 12 towers and other apparatus in to build their people-mover on traditional September so the gondola could be operaSquamish Nation land. The District of tional by summer 2013. Squamish followed with its approval for the urrey condominium developers are offer“Startup costs are high with gondolas comduo to use the base of Mount Habrich. ing some sweet incentives to pre-sell proposal by the private Sea to Sky pared with other businesses,� Dunn said. “But Dunn expects the Squamish-Lillooet new condos to investors who now account Gondola to build a $20 million gonRegional District to also approve his applica- the cost to operate these things is very low.�◆ for a huge share of sales. dola up Mount Habrich next to Squamish’s 8)"5¤4 )"11&/*/( */
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WEST REDONDA OCEANFRONT This is a substantial, licensed oyster aquaculture business with over 20 acres of beach and deep water lease in a high production area in Redonda Bay on West Redonda Island. There is a large inventory of farming equipment and producing stock included, plus a 1-acre lowbank oceanfront upland property with a well-built 500sqft cabin and an excellent fresh water source. $449,000
PORT HARDY RIVERFRONT ACREAGE Unique opportunity! 3.6 riverfront acres zoned light industry and located just minutes from Port Hardy on North East Vancouver Island. There are hydro, sewer and water services to the property, highway and river frontage and good road access. This easy access, level property on the banks of the Quatse River offers diverse development potential with multiple possible uses! $339,000
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A26 Vancouver Island
www.westerninvestor.com JULY 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. AUGUST ISSUE: AD DEADLINE JULY 16 Report: Prairie Horizons Green construction Angel investors Franchise News Recreational Properties Regional Roundups: BC: Prince George AB: Edmonton MB: Gimli SK: Spotlight: La Ronge
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WESTERN INVESTOR JULY 2012 www.westerninvestor.com
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Our readers report on recent commercial real estate deals across Western Canada
Recently completed a major commercial real estate deal in Western Canada? Send details for a free report here to: wieditor@biv.com.
Photo: Frontier Real Estate Services
From Tyne Hospitality Services Ltd., West Vancouver. Tyne presidentAngus Wilkinson reports the following sales: From: Frontier Real Estate Services, Surrey. Deal: 135-room Huntingdon Hotel & Suites Frontier agents Josh Turner and Justin on leasehold property in Victoria’s Inner Harbour. Price: $5.65 million. Mitchell sold the following transactions: Deal: Two acres of vacant land, 206th Street, Deal: 31-room 401 Inn, Burnaby. Price: $3.17 million. Langley. Price: $1.75 million. Frontier agents Turner and Mitchell with seller’s agent Tracey Bosch of Royal LePage From: NAI Commercial, Vancouver. NAI Wolstencroft report the following: agent Michael Marckwort reports the folDeal: Two acres of vacant land, 84thAvenue, lowing sale: Langley. Price: $987,000. Deal: 18,926-square-foot self-storage facility, Frontier agents Turner and Mitchell with sell- Auto Road, Salmon Arm, sold for Hansom er’s agent Gail Forbes of Prudential Power Holdings to 0934875 BC Ltd. Price: $1.45 million. Play Realty sold the following: Deal: Two acres of land, 86th Avenue, From: Bentall Kennedy, Vancouver. Bentall Langley. Price: $1.2 million. Kennedy chief investment officer, Canadian From: Re/Max Sabre Realty , Port operations, Paul Zemla, announces the folCoquitlam. Re/Max agent David Kearney lowing: reports the following sale: Deal: 538,000-square-foot, 33-storey Bentall Deal: 20,713-square-foot commercial V office tower, Burrard Street, Vancouver. property with two separate retail buildings, Bought by Bentall Kennedy from Deka Lougheed Highway, Port Coquitlam. Sold to Immobilien GmbH. Price: $400 million.
From: CBRE Ltd., Edmonton. CBRE senior vice-president Bradley Gingerich announces the following transaction: Deal:163-unit, wood-frame apartment building in West Edmonton, built in 2004. Sale works out to $196,933 per apartment, mix of one and two bedrooms. It includes 221 underground parking stalls. Price: $32.1 million.
Two-acre parcel of land, Langley, sold for $1.2 million.
Photo: NAI Commercial
%
Rimarto Enterprises Ltd. Price: $1.9 million.
Photo Bentall Kennedy
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.
Bentall V office tower in Vancouver sold for $400 million.
8,926-square-foot self-storage facility, Salmon Arm, sold for $1.45 million.
7BODPVWFS *TMBOE Salt Spring Island
EXTREME CLEARANCE PRICING ON TURN-KEY DEVELOPMENT OPPORTUNITY Parcel of five 0.75 - 1.13 acre lots with pastoral or ocean views Fully completed underground servicing, including municipal water and sewer All zoning and approvals in place Spectacular location on the edge of Ganges Village, all lots are build ready One-of-a-kind opportunity in the Salt Spring marketplace.
1.888.697.1550 www.saltspringlots.com chobbs@sothebysrealty.ca Sotheby's International Realty Canada
Lots from $179,000
Bulk purchase encouraged and deeply discounted for immediate sale.
VANCOUVER ISLAND COMMERCIAL www.nanaimoremaxcommercial.com
1-877-335-4380
Jay Cousins Realty
Jay Cousins jay@jaycousins.com
FOR SALE
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. $200,000 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 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. $2,950,000.00 UÊ "1,/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`ÊfÓ £]äää
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 $399,000
FOR LEASE
UÊ /7"Ê " , Ê-/, / Ê1 /- Nanaimo’s north end – 2,525 total Sq. Ft. in Long Lake Business Park. Blow out price at just of $200 per Sq. Ft. Main level (no stairs) & complex has high visibility on Old Island Highway. Motivated seller says get them gone! $529,000
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 REDUCED $724,900 UÊ /" "Ê " , É, - / Ê 1 ÊLocated in downtown core with harbour & ocean views. 2 Commercial units on main with long term leases & 3 residential suites above with month-to-month tenancies. 10 parking stalls on site$1,299,000 UÊ * ,/ 9Ê 6 "* Ê *,"* ,/9Ê 9- / Ê with Plans for single family lots, 4-plex lots & section of land currently zoned for townhomes. A lot of work has been done & some infrastructure is already in place. Potential of up to 29 doors $1,600,000
UÊ ",/ Ê "Ê7 , "1- – Newer 12,106 sqft warehouse on a 1 acre paved and fenced yard area. Overhead and dock height loading. Nicely appointed office and showroom plus an additional 990 sqft of mezzanine area. Excellent North Nanaimo location. ÀÊ i>ÃiÊJÊf °xäÊ«iÀÊõvÌÊ iÌÊ >ÞÊ> à ÊLiÊv ÀÊÃ> i
UÊ , , Ê" ," /Ê 6 "* /Ê"**",/1 /9 MidVancouver Island. Currently used as an RV Park this walk-on beachfront property has 4 legal parcels, full service RV sites, Tenting/Camping sites, rental cabin, residence etc. Current zoning permits RV use as well as resort condominium development, hotel, etc. Initial research suggest a re-zone could allow up to a 30 unit single family development. Upper bench of the property has dramatic views. 100% share sale. $2,995,000
FRANK JOHNSON
JAY COUSINS
of Nanaimo
Frank Johnson frank@remaxofnanaimo.com
INVESTMENT OPPORTUNITIES 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 $495,000 possible 7% CAP rate.
www.nanaimoremaxcommercial.com
1-877-423-0984
INVESTMENT OPPORTUNITIES UÊ { * 8Ê 1 / 9Ê*,"* ,/9Ê Ê* , -6 Desirable C3 zoning could allow higher commercial or mixed future uses. Quality tenants in place, exceptional street presence ocean views from upper suites $569,000
UÊÊ "7 /"7 Ê 9- / Ê , Ê 6 -/ /Ê UÊ £ Ê1 /Ê, 6 , ," /Ê "/ Ê" ÊÓÊ , -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, $689,000 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 $998,000 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 $1,275,000 Üi °Ê Ài>ÌÊLÕà iÃÃÊ «« ÀÌÕ ÌÞ°
UÊ, -",/]Ê "/ ÊEÊ * ,"1 Ê Ê+1 1 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 investment property. 10% $3,125,000 CAP rate on asking price.
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. $4,500,000
JAY COUSINS
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` $749,900 UÊ , " Ê - Ê7 / , ," /Ê " 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 $1,795,000 further expansion. Info Portfolio available 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 , 1 $2,249,000 asking price.
BUSINESSES U Franchise Fitness Business South NanaimoÊ U Used books / consumer services retail – Nanaimo UÊWestern Wear & Tack Store – Duncan ÊÊ UÊ-ÕVViÃÃvÕ Ê*Õ «ÊEÊ Ì ÀÊ ÕÃ iÃÃÊqÊ > > ÊÊ
UÊSeasonal Wreath Business – Qualicum UÊMid-Island Diaper pick-up & delivery Service UÊ, V Þ½ÃÊ Ê >ÞÊ À ÊqÊ >`ÞÃ Ì ÊÊ UÊ, V Þ½ÃÊ Ê >ÞÊ À ÊqÊ ÕÀÌi >ÞÊÊ
UÊSports Retail Clothing & Accessory Store Duncan U Panago Pizza Franchise Parksville
JAY COUSINS
fÈ ] ää $59,000 f x]äääÊÊ $99,000 $99,000 $199,900 $199,000 $249,900 $249,000 $399,000
A28
www.westerninvestor.com JULY 2012WESTERN INVESTOR
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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
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~3.2 Acres ~M-7 Industrial Zoning ~Phase 1&2 environmental Studies Available ~Also has residence on property STORAGE QUONSET HUT 56’ x 80’ w/ 36’ x 60’ MEZZANINE for parts storage
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Ucluelet Ebb Tide B&B $1,150,000 Fabulous beachfront property with sand black rocks at either end of sand beach. 6 bedrooms large double car garage currently converted to a workshop. Steady business for many years.
Harrison/Hemlock Valley Hemlock Hollow B&B $1,200,000 Fabulous log home in mountain resort. 3 guest rooms, convenience store and snow removal business all set to go in a turnkey package check out the pictures.
Harrison Eagle Tree B&B $1,395,000 Large log home and guesthouse beautifully put together on the banks of the Harrison River. Horse paddock. Popular wedding location
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Tofino Eagle View B&B $649,000 Great 3 bedroom plus 2 bedroom owners suite just minutes from dock restaurants and surf shops, workshop for extra storage. Absentee owner is selling.
For more information on these exciting properties check out www.bedandbreakfastforsale.net PETER BIRRELL Re/Max Crest Realty 1-800-665-1455 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.
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768 ACRE 5 TITLE CATTLE RANCH AND PLAYGROUND 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. RE/MAX CALL TREELAND
ROY MUFFORD 604-533-3491