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COMMERCIAL REAL ESTATE, FRANCHISES AND BUSINESS OPPORTUNITIES
Commercial Real Estate Services, Worldwide.
FOR LEASE
1,900 sq ft warehouse Abbotsford ...$1,600 mo 2,560 sq ft warehouse Abbotsford ...$1,800 mo 6,600 sq ft warehouse Langley .......$3,575 mo
FOR SALE
1,042 sq ft warehouse Abbotsford .....$188,700 2,200 sq ft warehouse Mission..........$327,000 2,628 sq ft warehouse South Surrey .$460,000
RESIDENTIAL
1200 sq ft rancher Abbotsford ...........$264,900 Six residential lots serviced Langley .$280,000
BUSINESSES
RV Sales & Consignment Langley ......$119,000 Landscaping/Lawn Care Delta ...........$250,000
BRUCe SHeLDoN 604-534-7974 bruce@naicommercial.ca MIxED USE DEvELOpMENT SITE NEW WESTMINSTER
• 19,633 sf corner • 7 tenants $87k pa • Hold now build later • Build 4 storey ASKING $1,980,000 strata REDUCED $1,790,000 • New revitalized area
MULTI-TENANT COMMERCIAL BURNABY • 13240 sf rentable
for sale- new listinG self storaGe faCility eDMonton, ab Excellent location!! • 438+/- units – 3.90+/- ac
adjacent to future flyinG J truckstop and proposed Denny’s
vancouver • LOWER MAINLAND • vancouver island section
$4.29 AUGUST 2012 Vol. 27/issue 8
• Up to 22+ Acres Total • Owner will subdivide to suit • Industrial or Commercial uses • Full Highway Frontage
• 63,500+/- sf net rentable • Over 90% occupied pRICE: Contact Broker
ASKING: Contact Listing Broker KEN KIERS* oR KEN HICK p. 604-534-7974 TF. 1-800-890-9855 kiers@naicommercial.ca
KEN KIERS*
604-534-7974 1-800-890-9855 kiers@naicommercial.ca *personal Real Estate Corp.
MERRITT, BC oppoRTunITIEs hot PriCe
• 53 Unit Townhouse Site • 4.1 Ac. R3 M-F zoning • Services at street • Asking $699,000
DEEP GREEN RETROFITTING 14
half aCre C-3 serviCe CoMMerCial lot • Close to Wal-Mart. Only $199K Trades ?
• Fenced parking lot • 16009sf c-4 lot • Excellent condition • Pro forma cap 6% ASKING $2,350,000 • High traffic location
• 0.43 acres each Amazing price $69,900 ea.
DoN eLLIS, RI 604-691-6668 donellis@naicommercial.ca
CHRIS LANGHAUG
3 liGht inDustrial lots
INDUSTRIAL BUILDING FREE STANDING LANGLEY
• 15,376 sq.ft. Warehouse/ With some main floor offices • 1.2 Acres Paved lot • Finished offices, washrooms and mezzanine • Heavy Power, Fenced and secure yard • Extra Yard area – Rare!! • Sprinklered building & has month by month tenant • $2,260,000
Commercial/industrial land highway 1 access and exposure
11.4 aCres Dev. lanD aDJaCent to wal-Mart & hwy 5
• Ideal for home improvement store, shopping centre, hotel, RV Park & Storage • Now only $3.2 Mil ($280k/ac)
Energy expert Bryce Conacher of Ledcor: Turning old office towers into modern profit centres
604-534-7974 or 1-800-890-9855 langhaug@naicommercial.ca
for sale rv site with business
• Located in Langley, Highway frontage • Potential dealership or Home Improvement Centre • C-3 zoned 2.57 acres +/-, 6,417 sq. ft. of buildings
DoN & ANGIe MACDoNALD
• S ales office, parts store, and 3 service bays • Large sales lots -Secure storage • Can be sold with or without business • Prime re-development site - to commercial & residential • $3,500,000.00
604-534-7974 or 1-800-890-9855
Build on the Power of Our Network. Over 350 Offices Worldwide.
EXECUTIVE GOLFER’S RETREAT at SEMIAHMOO - $1,195,000 New custom dream home w/nearly 4700 s.f. & quality high end appointments. 3 suites /detached gu 21 RETAILING INTO CHINA 6 WESTERN PERSPECTIVE 9 ANGEL INVESTORS full bath 23 MINE HUNTERS 11 NATIVES SPOOK CITIES Startup money available, Spectacular one a kind corner location bordering the #1 fairway & #18 hole, across from clubhou 27 DONE DEALS except for ”liars and jerks” 17 RECREATIONAL
executive golfer’s retreat at semiahmoo $1,195,000
• New custom dream home w/nearly 4700 s.f. & quality high end appointments. 3 suites /detached guest Casita w/full bath • Spectacular one of a kind corner location bordering the #1 fairway & #18 hole, across from clubhouse Call Mike (604) 288-7473 www.copacrealestate.com
A2 Lower Mainland country pines mobile home park and gallagher lake resort
• 109 MHP rental pads on approx. 20 acres, 145 campsites and 4 cabins on 10 acres • Lake front campsite with sandy beach • Excellent location with easy highway access • Price $9,200,000
for sale 12180 RIVERSIDE WAY, RICHMOND
• 32,223 sf freestanding office/warehouse facility on 1.21 acres • Expansion potential • Fenced & paved yard • Price $5,880,000
www.westerninvestor.com AUGUST 2012 WESTERN INVESTOR 5,498 sf freestanding industrial building
for sale - high exposure corner lot
for sale - high profile corner property
3290 GRANT STREET, BuRNABY
2221 quINN STREET, PRINCE GEORGE
14377 64TH AVENuE, SuRREY
• Centrally located 31,925 sf office building • Structural steel frame with reinforced concrete block construction • 106 underground parking stalls • Price $6,950,000
• 11,050 sf office/warehouse on 1.6 acres • Leased to DHL Canada • 7 dock and 13 grade loading doors • 19’ clear ceilings • Asking $1,900,000
• 3 retail / 1 residential / 1 office units • Built in 2009; Lots of parking • Near Sullivan Heights High School and Bell Centre • Asking $2,200,000
don duncan * | chris driver*
bob watt
bill hobbs* | flavio unti
bill randall*
philip cheng
for sale - excellent new westminster investment opportunity
for sale 2999 GRANDVIEW HWY, VANCOuVER
tofino zoned campground/commercial totalling over 116 acres
multi-family residential development site
8319 MAIN STREET, OSOYOOS
• 7,429 sf penthouse floor of “The Westminster Building” • Close to skytrain, outstanding panoramic views • High ceilings, fully updated tele/data systems • Asking Price $2,150,000 chris driver* | andrew laurie don duncan*
for sale 3345 - 3353 kINGSWAY,VANCOuVER
• Single tenant retail building • National tenant/long term lease • 35,232 square foot building • Price $13,000,000
• 2,000 feet oceanfront • Never before available to purchase • Purchase as a whole - Offers considered on separate titles • Asking Price $24,500,000
1150 BAILEY STREET, SquAMISH
• 65 unit opportunity • $2,250,000 - Active development permit • Asking $1,995,000
for sale
• 8,837 sf of commercial office/retail space • Excellent exposure to Main Street and commercial core • High quality finishings • Asking Price $1,395,000
craig haziza***
mark gallagher
bill randall* | noah freedman
bill randall*
owner/user opportunity with income
downtown victoria office building for sale
saanichton industrial property for sale
for sale - river’s edge business park
2790 ALLWOOD STREET, ABBOTSFORD
838 FORT STREET,VICTORIA
6701 OLDFIELD ROAD, SAANICHTON
PORT COquITLAM
• Two storey retail/residential • 100% leased - long term tenants • 8,200 sf building • Price $2,980,000
• Building Area: 6,490 sf Land Area: 20,038 sf • Approx $300,000 of recent improvements • Annual net income: $96,000 until Apr 1, 2014 • Asking Price $1,475,000
craig haziza***
hudge parmar* | max zessel
38,253 office/warehouse/ tech facility
for sale surlang medical clinic
19473 FRASER HWY, PITT MEADOWS
#106 - 19475 FRASER HIGHWAY
• Single tenant strata leased to Oct. 2015 plus 5 year option • Pitt Meadows location near Golden Ears bridge • Future rezoning potential • Asking $4,295,000 - 6.5% return
• High profile medical clinic for sale on Fraser Highway • 19 year old business • Business and Real Estate for sale at $695,000 • Owners will consider a lease back
• Ideal for an owner/user as the main and 3rd floor are currently vacant • Approximately 18,000 sf building & basement • Excellent street presence • Price $4,500,000
• Approximately 1,000 sf of office space • 8,000 sf warehouse + mezzanine, yard and parking • 2 grade level bay doors • Price $1,800,000
anne tanner | jon buchanan call 250-410-3000
jon buchanan call 240-410-3003
• Brand new riverfront units from 7,718 sf • Rear dock and grade loading • Superior quality design and finishing • Design-build purchase opportunities-1 acre & up • Superb access/egress & retail amenities next door rick eastman* bart vanstaalduinen*
for sale
wood lake development site
for sale - 63 acre industrial site
DISTRICT OF LAkE COuNTRY, BC
25450 LOuGHEED HWY, MAPLE RIDGE
9321 96TH STREET, FORT ST. jOHN
• Shadow anchored by Sobey’s • Oil and gas capital of BC • Site size of 0.95 acres • Asking Price $2,500,000
• Wood Lake RV Park with development potential • 10.25 acres plus 1.17 acre Water Lot Lease • Asking $8,500,000
• Located 2 miles from Albion Industrial area • Extensive River, Rail and Highway frontage • Potential to split site into 4 major parcels • Level site, and ideal for development
rick eastman*
mike hardy | max zessel
eric walker
mark gallagher | hudge parmar*
bill hobbs*
freestanding commercial building
freestanding building in north burnaby
for sale - carefree investment strata
fully leased mixed use building
for sale - long term government tenancy
7788 EDMONDS STREET, BuRNABY
4622 HASTINGS STREET, BuRNABY
YALETOWN
11937 227TH STREET, MAPLE RIDGE
2455 MANSFIELD DRIVE, COuRTENAY
• Excellent exposure • 10,700 sf building (like new) • 19,860 sf - C4 zoned land • $2,950,000 david canning
gateway travel centre kAMLOOPS
• 3,200 sf single tenant building • Currently tenanted on a month to month basis • Great opportunity for owner/occupier or investor • Asking Price $1,085,000
• Yaletown; Dentist tenant • Aquarius Professional Building • View, covenant, location • $934,000 ($651 psf) 4.3% Cap
• 89,036 net operating income • 5 residential suites and 3 retail tenants
• New net lease • Building upgrades • Net operating income $142,000 • Price $2,582,000
alastair fergusson sean ungemach**
adam frizzell
craig ballantyne*
eric walker
for sale harrison highlands
for sale - 0.78 acre flexible use development site
for sale
for sale lincoln centre
kENT
FRASER HWY & 200TH STREET, LANGLEY
38917 PROGRESS WAY, SquAMISH
3030 LINCOLN AVENuE, COquITLAM
PRICED REDUCED • Fully operational travel centre comes with Denny’s long term lease • Price includes 3 adjacent development sites • 15.9 acres total (includes travel centre parcel) • Price reduced $8,950,000 bart vanstaalduinen* eric walker
• 90 acre residential development site • PHASE I: Fully serviced 37 single family lots and 12 bare land strata titled lots • PHASE 2: Serviced to lot line • Asking Price $12,700,000 bill randall*
• Located at the edge of downtown Langley with convenient access to the major traffic arteries in the area • Could accommodate an approx. 5,000 sf building • Asking price just reduced to $1,250,000
• 7,715 sf building on 1.33 acres • Excellent access to Highway 99 • Flexible zoning allows for most industrial and commercial uses • Asking $1,499,000
mike hardy | john bentley
cushmanwakefield.com | 604-683-3111 *Personal real estate corPoration. ** sean Ungemach is licensed with sBU realty advisors ltd. and has a contractUal relationshiP with cUshman & wakefield ltd. ***craig haziza is licensed with cah realty inc. and has a contractUal relationshiP with cUshman & wakefield ltd. the information contained herein was oBtained from soUrces which we deem reliaBle, and while thoUght to Be correct, is not gUaranteed By cUshman & wakefield.
bill randall*
• Office/Retail - 16,600 square feet • 10 Strata lots • 100% leased - 7 tenants • $5,980,000 craig haziza*** craig ballantyne*
contents auGust 2012
VancouVer • lower mainland • VancouVer island section
FEATURES 14 ON THE COVER Greening old office towers
On the cover Bryce Conacher of Ledcor Renew: Upgrading old buildings can often add more to bottom line than building new Photo: Ledcor
spECiaL sECTiON • a16 LIFESTYLE PROPERTIES
Changes can cut energy costs, find extra lease space
9
ADVERTISING DIRECTORy
Angel investors sweetened with grants But they still want to see bottom-line potential
2–21 LOwER maiNLaNd 8 sERViCEs 20 sEa-TO-sky/suNsHiNE COasT REgiON
11 Native developers don’t need civic approval Tower plans rattle planners in Vancouver, North Shore
21 Breaking into a $2 trillion retail market
22–27 VaNCOuVER isLaNd
China beckons, but sharp elbows needed to survive
MORE OPPORTuNITIES …
COLUMNS
• iNTERiOR b.C. • aLbERTa • OTHER pROViNCEs • fRaNCHisEs … sEE sECTiON b
6 WESTERN PERSPECTIVE 25 WHAT’S HAPPENING IN B.C. 27 DONE DEALS
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
SUTTON GROUP WEST COAST REALTY
CALL Don
604-817-7338
Munro
botsold@intergate.ca
Prime Agricultural and Commercial / Industrial
Real Estate
5133 Bates Road, Abbotsford ACREAGES
24453 60th Avenue, Langley ACREAGES
ABBOTSFORD
ACREAGES
7455 253rd Street NEW REDUCED PRICE $989,000 • 4.84 Acres • +/- 2,928 sq.ft. 6 bdrm one storey with partial basement home • renovations +/- 9 years ago • 1,160 sq.ft. shop w/ loft and 2 single car garage doors • Second dwelling is a split level 4 bedroom home with +/- 1,575 sq.ft. upper floors and +/- 400 sq.ft. basement
5133 Bates Road $2,200,000 $1,850,000 • Court Ordered Sale • 45.194 Acres • Private location to build your dream home • Used as a Dairy Farm but a great location for blueberry farm or other farming ventures
LANGLEY “Trophy Farm” $9,800,000 • 550 gallon per minute water supply • 12,583 sq.ft. home • Warehouse/shop, office, barn • Fenced and cross fenced
48th Avenue & 216th Street Open to Offers • 45.82 Acres (two parcels) • Possible Future Potential?
“Bare Farm Land” $3,500,000 • +/- 50 Acres • prime hayland • Relatively flat farmland & perfect for most crops • Terrific location
889 Lefeuvre Road $5,800,000 • 26.6 Acres • Mushroom Farm • Shop/Composting Facility • Growing Barn & Multi-Use Building
24453 60th Avenue $2,600,000 • Large 48 Acre parcel (divided from original 77.2 acres) • Located on the northern portion of 244583 60th Ave • SR-1 zoning & section zoned P2-G
27691 Downes Road NEW REDUCED PRICE!!!!! • 26 Acres • Potential Berry Land?? • Large Shop & Barn/Storage
7437 253rd Street $1,049,000 • 4.63 Acres • +/- 1,264 sq.ft. 3 bedroom home • updated +/- 8 years ago • Septic field re-done +/- 4 years ago • Several paddocks and shelters as well as a hog fuel ring • 32’ x 80’ coverall building • 78’ x 100’ shop with 220 volt power • 36’ x 40.6’ barn with 5 stalls and tack room
7700 240th Street Open to Offers • Recently Remodelled!! • 16.2 Acre panhandled shaped lot • Large +/- 3,253 sq.ft., 3 bedroom rancher • +/- 1,126 sq.ft., 2 Bedroom Basement Suite • Jetted tubs upstairs & downstairs
✓ VALUE FOR $
✓ GOOD RETURN
45116 Yale Road, Chilliwack COMMERCIAL/INDUSTRIAL
6842 202B Avenue & 6868 202B Ave $1,700,000 • Prime Townhouse Development Site • Designated +/- 40 UPA with underground or structured parking • Excellent View Property close to all Amenities
LANGLEY 203-20771 Langley Bypass $750,000 • +/- 3,864 sq.ft. commercial strata • Fully leased • Excellent Investment Property
CHILLIWACK
CHILLIWACK 50915 Ruddock Road 2.496 Acres $598,000 • Excellent view property • close to many amenities • +/-2 year old 2 stry home w/ full finished basement • Beautiful large master bedroom with rear balcony, 4 pcs ensuite & walk-in closet 51140 Ruddock Road $850,000 • Potential for 11 Lots! 27.98 Acres • Private, yet in close proximity to many amenities 700 Columbia Valley Road $1,300,000 • Prime Farm Land, 25.51 Acres • Build your dream home here!
COMMERCIAL/INDUSTRIAL SURREY 11151 Bolivar St & 13340 112 Ave $2,750,000 • 2.3 Acres (on corner) • Zoned CHI (Highway Commercial) 19518 32nd Avenue $3,150,000 • 4.83 Acres in Campbell Heights • Designated Business Office Park
✓ TENANT COVENANT
45116 Yale Road 1.376 Acres • Excellent location just off Evan’s Road Exchange • Perfect location for your business • Currently M2 zoning Call For Price & Additional Information 44085 Yale Road West $1,250,000 • 1.01 Acres • Close proximity to TransCanada Hwy • M2 Zoning (sales, manufacturing, distribution, warehousing, food processing, outside storage allowed) 44109 Yale Road West $1,210,000 • 0.8 Acres • Home and large shop • Close proximity to Highway #1 • M2 Zoning 8558 Chilliwack Mountain Road $4,600,000 • 10.687 acre Vacant Industrial Lot • Zoned M3 (General Industrial) & M4 (Heavy Industrial) • Level lot with a compacted gravel base • Great Location! Great Price 8495 Aitken Rd, $325,000 • +/- 1/2 acre Industrial Vacant Lot • Zoned M2 (Service Industrial) • Perfect for small businesses
✓ UPSIDE
✓ CAREFREE
A4 Lower Mainland FORRES PACIFIC PROPERTY MANAGEMENT YOUR PARTNER FOR SUCCESSFUL REAL ESTATE INVESTING PROPERTY MANAGEMENT AND CONSULTING SERVICES FOR THE LOWER MAINLAND AND FRASER VALLEY
SCOTT ETTLES DAYTIME EVENING
604 576 4407 604 724 1787
www.westerninvestor.com AUGUST 2012 WESTERN INVESTORW
RETAIL STRATA UNITS FOR LEASE West Vancouver – 1200 sq.ft. at 1763 Marine Dr. in busy Ambleside. Vancouver East – 740 sq.ft at 2252 Kingsway at busy junction of Nanaimo St.
RETAIL STRATA UNITS FOR SALE
BOB SCR AGG
604.290.2906
Sparkling Commercial Investment Waiting for you 6% cap
94 Unit Hirise Apartment Bldg. For Sale
Leonard.lee@shaw.ca
TrADewiNDS MArKeTiNg LTD.
RARE
INVESTOR ALERT
RICHMOND NO.3 RD
PRIME COMMERCIAL INVESTMENT
OPPORTUNITY
$7,191,000 CAP RATE 5.5% NOI $395,520 • Multi strata commercial rental unit • Anchor tenant of well established Asian Retail Mall • 16,000 sq ft / 6 strata units • Northern Town Centre District of Richmond location • Secure Stable Investment Opportunity • Long term lease with built in rent escalations
Established & Profitable
Health Food Store In Downtown Chilliwack
Owner retiring Asking $450,000 Serious buyers
Call James Lee (604) 671-1811 developbc@gmail.com
Call John 604-846-7666
Estate Sale - North Vancouver PRIME UPPER LONSDALE - 10 legal suites – Net income $100,144 - 7000sq.ft. building - 50 x 132 ft VIEW lot. - Priced at $2,150,000 – well below certified appraised value - 3% mortgage - 4.65% cap rate - Never a vacancy Please see:
www.youtube.com/user/johnserder1/videos call for complete financial package
JOHN SERDER 604-889-9338
• Prince George, BC
• 27256 Fraser Hwy, Aldergrove
• Located in Downtown Prince George near transit
• Central commercial frontage in town centre on main street. • Building 6,500 sq ft/ Lot 66’X120’ • Can be re-configured into 3units (2,000 SF) all w/ street frontage. • Mixed use redevelopment potential • Guaranteed 3-yr lease to yield near 6% yield • List Price: $750,000
• 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
Office Building For Sale / Lease
102 Acres Prince George For Sale
ea Gr e l b nt va lie stme e b Un Inve
t
• Burnaby, BC • High profile location, close to transit • 75,000 sq. ft. total • 40,000 sq. ft. available immediately • Lease Rate $12/sq. ft. (long term) • For sale $17M
• Designated - Residential & Commercial • Services available • Super investment • Gravel opportunity while holding • $2,500,000 $1,700,000
South Surrey Office/Retail Building For Sale • Solid Concrete 5,000 SF office/retail building on 3/4 of an acre at a busy intersection • Zoning permits additional development up to 25,000 SF • Ideal for owner/user • Asking Price $2,388,000
CHRIS MIDMORE KELVIN LUK
3221 140th Street, South Surrey, BC
• 3-Bdr owner’s suite with private lakefront balcony
Amex Broadway West Realty Ltd.
• 140-Seat lakefront restaurant, currently leased • 31-Guest suites in excellent condition/ 2-Bedroom manager’s suite • Saltwater outdoor swimming pool • Asking Price $3.29M
BUILDING AT UBC
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, offices, teaching, training, and conference facilities, in support of research and development in a number of key areas. OFFERS
BRUCE LONG DAVID FITZGERALD
bcapar t ment building s .com
Call Kris Pope for details 604-318-5226 Either multi tenant office or business park with good return and or upside Up to $25,000,000.
WANTED
INVESTMENT
PROPERTY
$500,000 to $1.500,000 with close to a 6 cap, retail or strata office possible, Greater Vancouver or Kelowna, quick close for a good property.
PRIME RETAIL INVESTMENT 3 strata title units sold together--control the entire retail component of this building. Fully tenanted at the corner of 12th and arbutus in the acclaimed LUZON development. Arbutus corridor, huge development in the immediate area coming soon. $2,988,000
Contact Kris Pope at 604-318-5226
Dexter Associates Realty Commercial Real Estate, Your Trusted Advisors “We are focused on achieving the results YOU want.”
604.312.2000 604.714.5522
Court Ordered Sale: Industrial Building & Land • Building 54,000 sq. ft. industrial site Blg • Land 2.32 Acres • IH - High Impact Industrial Zone
Kris Pope 604-318-5226 FOR LEASE CLARK DRIVE - 3,000 SQ FT AUTO SHOP, 4 bays with office Asking $16 NNN or approximately $5700 all in will do a 3 or 5 year lease. Great location with many auto shops nearby, good clean building.
604.714.4786 604.714.4766
Lakefront Resort Motel For Sale, Penticton, BC
FOR SALE
SEEKING AN INVESTMENT OPPORTUNITY
bscragg@macrealty.com
LEONARd LEE 604-889-8718
settles210@aol.com
81,260 sq.ft. R&D
commercial@macrealty.com
Vancouver – 666 sq.ft. & 1110 sq.ft. at Cambie on the busy junction of Broadway. Leasing available for 2170 – 2160 Cambie Street.
www.forrespacific.com
. ASED BE LE DETAILS Y A M L FOR CAL
Vancouver 604.736.5611 Fraser Valley 604.590.2444
MACDONALD COMMERCIAL REAL ESTATE SERVICES LTD.
• Asking Price $4,400,000
BRIAN TATTRIE 604.714.4783 DON O’BRIEN 604.714.4789
1 2 320 - 8 8t h Ave, S ur r ey, BC
Rare Golf Course Opportunity For Sale | Vancouver Island • Par 72, 6616 yards, 18 holes Championship Golf Course on 159 Acres • 12,000 sq. ft. club house with pro-shop, restaurant, lounge and banquet facilities • Full size driving range and large practice facilities • Preliminary plans for a 200 room hotel and convention centre • 8,000 sq. ft. custom built home
ERIC POON / KELVIN LUK 604.736.5611 Rare Opportunity - South Granville Apt Building For Sale • 14 Suites / 1 -Studio & 13 - 1Bdr
List Price$5,288,000
GARY KHAN / DAVID FITZGERALD /BRUCE LONG 604.736.5611 Little Mountain Chilliwack - 59 Lot Subdivision For Sale • 59 lot subdivision / Little Mountain Chilliwack • List Price: $3,998,000
PRICE REDUCED
GARY KHAN 604.714.4799
Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.
www.macdonaldcommercial.com
WESTERN INVESTOR AUGUST 2012 www.westerninvestor.com
Lower Mainland A5
FFER
IPLE O MULT
APARTmENT BuILdING sPEcIALIsT 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
RETAIL SALE/LEASE
RETAIL INVESTMENT
INVESTMENT PROPERTY
STRATA OFFICE SALE/LEASE
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 • Restored heritage building • Exposure corner in trendy location • 5 parking stalls
1088 Seymour, Vancouver 1,188 sq ft • Downtown location Tenanted - 5 year lease High exposure corner
2780 Arbutus Street, Vancouver 5,791 sq ft building on 9,375 sq ft lot Key corner location • Stable long term Income • Care free management
3410 Lougheed Hwy, Vancouver 552–6,696 sq ft • Attractive pricing Quality concrete office construction Close to SkyTrain/Broadway Tech
James Bayley, Meghan Kennedy
James Bayley, Meghan Kennedy
James Bayley, Meghan Kennedy
Don Mussenden
Anthony Lux, Don Mussenden
RETAIL INVESTMENT
INDUSTRIAL SALE/LEASE
INVESTMENT STRATA
DEVELOPMENT OPPORTUNITY
EXPOSURE LOT FOR SALE
1738 West 2nd Avenue, Vancouver 1,086 sq ft retail strata east of Burrard Underground parking • Approx. 5% cap rate • Leased until April 30, 2015
1263 Clark Drive, Vancouver 3,063 sq ft showroom/office/ warehouse • Exposure property Ample parking • Grade loading
1779–1799 Kingsway, Vancouver 3,005 sq ft ground floor strata Fully leased until Dec 31, 2015
1502 Broadway, Port Coquitlam 1.977 acre lot • High exposure commercial development site Asking $2,100,000
1161 Kingsway Ave., Port Coquitlam 39,726 sq ft lot • Excellent exposure 2,000 sq ft building M-2 industrial zoning
Conor Finucane, Howard Malchy
Mitch Ellis, Ryan Saunders
Conor Finucane
Steve Caldwell
Phil Gibbons, Steve Caldwell
DEVELOPMENT OPPORTUNITY
DEVELOPMENT SITE
INVESTMENT OPPORTUNITY
INDUSTRIAL SALE
INVESTMENT OPPORTUNITY
Pr ic e
44 %
SO LD
Re du ce d
LOT FOR SALE
KELOWNA
King
Approx. 6% cap rate
George Blvd
2450 Ticehurst Lane & Gately Avenue, Port Coquitlam 32,381 sq ft site • River frontage 48,571.5 sq ft of buildable density
13061 King George Blvd., Surrey 5.34 acre site • Between Scott Road & Gateway stations • Residential/ Industrial per OCP • NEW PRICE!
12682 82nd Avenue, Surrey 24,700 sq ft on 1.19 acres Fully leased generating $180,870 per annum • Asking $3,400,000
54370 Bridal Falls Rd., Chilliwack 14.165 acres • Development potential Exposure and access to Highway 1 3 phase power • Covered storage
904, 908–990 Victoria St., Kamloops 1.377 acres • C-4 zoned $216,000 gross rents • Two buildings on 9 lots • Asking $1,995,000
James Bayley, Chris McIntyre
Rand Thomson, Sebastian Espinosa
Tony Capolongo, Sebastian Espinosa
Rand Thomson, Sebastian Espinosa
Steve Caldwell, Murray Wills
For more information on our available properties and range of commercial real estate services please contact us today. Tel: (604) 684 7117 • www.dtzvancouver.com Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent verification. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 08/2012.
A6 Lower Mainland
www.westerninvestor.com AUGUST 2012 WESTERN INVESTORW
Tough lending rules punish the innocent
O
ttawa has moved to restrict how the world’s best banks lend money to their very best customers. It is a poorly timed move that punishes the innocent and will lead to job losses and a stunting of private investments. The Finance Ministry is attacking the safest borrowers in the world: Canadian home owners. When compared with governments – Ottawa, for example, is $600 billion in debt and adding to it by $57 million a day – Canadian mortgage holders are a paragon of frugality and a rock-solid investment. The default rates on high-ratio mortgages in Canada is 0.42 per cent. Overall mortgage arrears – where payments are at least three months behind – have been declining for more than 20 years in Canada, even as housing prices and mortgage debt have tripled. The new rules for government-backed insured mortgages include the reduction of the maximum amortization to 25 years
from 30 years. Also, mortgage insurance is no longer allowed on homes priced at $1 million or more and the maximum refinancing ratio has been lowered to 80 per cent of a home’s value, down from 85 per cent. The changes will freeze about 5 per cent of first-time buyers out of the market and take millions of dollars out of circulation every month. The mortgage regulations are just the latest from Ottawa. Last year, investors buying a second property were required to make a minimum 20 per cent down payment and the federal government withdrew from insuring on home-equity lines of credit (HELOC). The former curtailed investments in badly needed rental housing – about one in four condominiums are bought by investors who rent them out – and the already suffering recreational market. Stricter rules on home-equity lines of credit are even more insidious because they punish older homeowners who have
Western perspective
built up real estate equity. According to the Canadian Association of Accredited Mortgage Professionals, a primary use for HELOCs is for investments, which accounted for $10 billion in the past year alone. Home ownership has proven about the only sure route to building wealth for average Canadians. For many young people, that road is now blocked by misguided and mistimed government intervention.
NEXT MONTH
Western Investor presents its annual residential real estate outlook. Investing 101 looks at buying rental housing. We cover the rapidly changing REIT market, and our regional reporters file from Coquitlam, the Kootenays, Lethbridge, Lloydminster and Wetaskiwin. Plus all the news and commentary needed by western investors. FRANK O’BRIEN
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EDITOR wieditor@biv.com
SEPTEMBER 2012 issue: August 13, 2012
VANCOUVER BC UNIFORM SHOP
STRIP MALL MAPLE RIDGE, BC
Publisher Cheryl Carter Editor Frank O’Brien Contributing Writers, 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 1G2 Subscriptions and Advertising Sales Tel: 604-669-8500 Fax: 604-669-2154 Canada/ U.S. toll-free: 1-800-661-6988. Canadian publications mail product sales agreement #40069240, GST #105655567. Copyright 2002. While every effort is made to ensure the accuracy of articles and advertising that appear in each edition of Western Investor, the publisher may not be held responsible for any errors or omissions that may from time to time occur. No part of this publication may be quoted or reprinted in any medium without the express written permission of BIV Media Limited Partnership.
Prime High-Density Development Property in Abbotsford
August 2012 – Western Investor A western perspective / frank FOR SALE BY ABSENTEE OWNER www.danpreston.ca Sales over $500,000 per year Personal Real Estate Corporation n Approx 7500 sq ft, 5 units established over 30 years net LAND ASSEMBLY • DEVELOPMENT • INCOME PROPERTIES Head = Ottawa’s n Potential 4% cap ratetough mortgage rules punish the innocent profit to owner $90,000 per year WHISTLER REVENUE TOWNHOUSE $408,800 n Lots of parking 3 bed - 3best bath - $2,400lend per month Owner works short hours. Ottawa moneyincome to their very best customers. n New roof has 2011moved to restrict how the36world’s units on acresbanks - site redevelopment potential It is a poorly timed move that punishes the innocent and will lead to job losses and a stunting of private n 2 new HVAC units Priced at $209,000 SENIOR'S DEVELOPMENT SITE investments. 1.3 acres located just steps n SALE: $1,990,000 Busy street exposure plus inventory. Foundation in place, tendered plans, away from Mill Lake and It also blocks the best shot at future prosperity for young people and curtails the retirement dreams n Excellent visibility permits, ready to complete. 88 units. Seven Oaks Mall. Please contact of older Canadians. Contact EjazMinistry Khan: is punishing theNEW WEST/BURNABY MIXED Iain MacDonell The Finance safest borrowers in in theDEVELOPMENT world: the Canadian homeowner. Contact 604-308-1475 39 Apartment Units, 7 Townhouse Units 702-823-4362 or 702-483-6466 604-328-3929 When compared with governments – Ottawa $2,850,000 for example debt and adding to it by $57 E-mail vasacanada@gmail.com OCPis&$600 Area billion approvedinplan. RE/MAX SELECT cell: 702-325-2868 702-529-0847 www.macdonells.com Joint Venture Opportunities Considered. million a day –efax: Canadian mortgage holders are a paragon of virtue and a rock-solid investment. PROPERTIES The default rates on high-ratio mortgages in Canada is 0.42 per cent, and even B lenders report that arrears on residential mortgage loans are in the 0.25 per cent range. Overall mortgage arrears – where payments are at least three months behind – have been declining for more than 20 years in Canada, even as housing prices and mortgage debt has tripled. The new rules for high-ratio government-backed insured mortgages include the reduction of the DEVELOPMENT maximum amortization to 25 years from 30 years. Also, mortgage insurance is no longer allowed on SITE VICTORIA homes priced at $1 million or more FOR SALE 1.74 ACRE and the maximum refinancing ratio has been lowered to 80 per cent UNITS $12.95M of a home’s value,168 down from 85 per cent. The changes came into effect in July and will chill a housing market that was already cooling down. 2 LIQUOR STORES FOR SALE About 40 per cent of recent homebuyers had taken out 30-year amortizations, which allows them to qualify SALES $4M & $2.7M ........ CALL FOR DETAILS for a higher mortgage while reducing their monthly payments. The change will freeze about 5 per cent of first-time buyers out of the market and take millions of dollars out of circulation every month. 2 LIQUOR PRIMARIES DOWNTOWN VANCOUVERThe PRICED $1.1M & $1.8M are just the latest from Ottawa. Last year, investors buying a second latest@mortgage regulations property were required to make a minimum 20 per cent downpayment and the federal government withINDUSTRIAL PROPERTY DELTA, BC drew fromSFinsuring equity lines of credit (HELOC). The former curtailed investments in badly I-I ZONE, 11,680 BUILDINGonONhome ½ ACRE needed rental housing – about one in four condominiums are bought by investors who rent them out – and ......................................................... $1.699M the already suffering recreational market. SEYMOUR RESTAURANT FOR 2400 SF lines of credit are even more insidious because they punish older homStricter rules onSALE home equity ................................... REDUCED TO $250,000 eowners who have built up real estate equity. According to the Canadian Association of Accredited Professionals, a primary use for HELOCs is for investments, which accounted for $10 billion WEST Mortgage 4TH AVE RESTAURANT FOR SALE 2000 SF $250,000 When the market’s changing, can of youstocks, trust? bonds and in........................................... the past year alone. Restricting access to a home’s equity will reducewhom purchases Call slow the experts: AIC professionals. other investments for retirement income, and the economy. OFFICE SPACE FOR SALE/LEASE 2002 SF AT It is first time buyer who will really feel of tougher mortgage regulations. HomeDesignated AIC members can help you Wethe aresting Canada’s leading authorityinsurance in real property valuation. 6TH AND SPRUCE ...................................... ownership has proven about the only sure route to building wealth for average Canadians. For many young and practical solutions — make smarter choices with in-depth analysis, market insights $1,050,000 OR $23/SF PLUS OPERATING. people that road is now blocked by misguided government intervention. from acquisition and development to management and disposal. Get the real property experts
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Consult an AIC professional. Retain the services of those who hold the AACI, P.App or CRA designation. 210 - 10451 Shellbridge Way, Richmond, British Columbia V6X 2W8 t: 604.284-5515 • f: 604.284-5514• info@appraisal.bc.ca • www.appraisal.bc.ca
Lower Mainland A7
WESTERN INVESTOR AUGUST 2012 www.westerninvestor.com
FEATURED LISTING FOR SALE/LEASE – 2907 3rd Avenue, Port Alberni FOR SALE – 1102 Commercial Drive, Vancouver • Rare opportunity to secure a corner location • Zellers building available for lease • Entire property leased to a single tenant with triple net lease June 2013 • Below market rents with opportunity to reposition the property • Lease has “Demolition/Substantial Renovation” clause • Demising options available Mark Hannah / Rob Greer • Abundant parking FOR LEASE – 1 Eighth Street, New Westminster • Over 4 acres of land including • Premier 144,000 sf Class A office and retail space, 100,000 sf of big-box retail year-end 2013 completion space • LEED Gold, energy efficient office bldg w/ large flexible floor plates • Adjacent New Westminster SkyTrain station Amanda Vissia • Abundant parking, amenities & spectacular views Darrell Hurst FOR SALE – 6955 120th Street, Delta
FOR SALE – 5133 & 5137 50TH Street, Chetwynd • Gwillim Gardens Executive Suites • 60 fully furnished suites • 100% occupied with waiting list • Complete renovations, condo quality • 9.6% Cap Rate
• 9,472 sf building on a 24,175 sf lot • Excellent exposure • Improved with retail bank on main floor & office space on 2nd floor
Matt Walker / Mona Khandan FOR SALE – 5118 Joyce Street, Vancouver
Chris Wieser
FOR SALE – 308 Forbes Avenue, North Vancouver • 47 modern, well maintained rental suites • Major renovation completed in 2008 • Panoramic views of Burrard Inlet • Prominent lower Lonsdale location • Secured underground parking
• 16,374 sf of fully improved strata office space • 2 full floors • Available April 1, 2014
Matt Walker / Mona Khandan Rob Greer / Chris Wieser FOR SALE – Abbotsford Industrial Land IT -SU ASE O T E - L ILD R BU LE O SA
• Rare serviced land • Zoned Industrial • 1.00, 2.25, 3.25, 13.25, 20 and 33 acre sites • Located at Mt. Lehman Rd & Brookside Ave
FOR SALE – 3600 Viking Way, Richmond • 46,241 sf single-tenant building • 100% leased to Quantum Murray LP • Large 3.094 acre site
Michael Farrell / John Eakin FOR SALE – 227 Stratified Rental Units
Mark Hannah / Rob Greer FOR SALE – Village Square, Bowen Island
• 364 - 424 Princeton Dr - Thompson Manitoba • Thompson’s premier strata rental apartments • Two 9 storey concrete buildings • Complete renovations in every suite • Assumable financing
• Opportunity to acquire the marquee commercial property • 24,098 sf of commercial space and 27 residential rental units • Corner location with high-exposure to ferry traffic • High occupancy and attractive cash flow yield
Douglas L. McMurray / Chris Wieser FOR SALE – 9532 194A Street, Surrey R T DE AC N U TR N O C
Mark Hannah / Rob Greer FOR SALE – 880 Belgrave Way, Delta • Manufacturing / Distribution Building • 162,330 sf • Owner User / Investor Opportunity
• 0.445 acre lot with 10,687 sf building on ground floor • 3 ton crane & heavy power • 2040 sf 2nd floor office • $1,795,000
Ryan Kerr / Michael Gill / Robert Levine / Robert Gritten
John Eakin / Michael Farrell FOR SALE – 2342 Windsor Street, Abbotsford • 22,171 square foot building on 1.07 acres • 9 loading doors • 40% leased for 5 years • Asking $2,699,000 ($110 per square foot)
FOR SALE – 144 Lonsdale Avenue, North Vancouver E D I C CE R P DU RE
Matt Thomas / Kyle Blyth
John Eakin / Michael Farrell FOR SALE – 8515 – River Road, South Mission • 6.82 acres • M-2 Heavy Industrial • Exposure onto Lougheed Highway • $2,387,000
FOR SALE/LEASE – 1455-1475 East Georgia St., Vancouver E D I C CE R U PD RE
• • • • •
11,668 SF Warehouse/Mezzanine Storage 0.33 Acre Site 44 % Site Coverage Excellent signage opportunities $2,350,000 John Lecky / Struan Saddler
• 10,000–20,000 sf of Office / Warehouse available • I-2 Light Industrial zoning • Dock and grade loading • $3,350,000
John Lecky / Struan Saddler
John Eakin / Michael Farrell FOR SALE – 701 East Cordova Street, Vancouver
• Located in lower Lonsdale neighbourhood • 3,250 sf lot • Currently tenanted with potential to increase income • $1,288,000
FOR SALE – 66 Duncan Avenue West, Penticton
LD O S
• 51 unit rental apartment building • 35 twos / 12 ones / 3 bachelor / 1 three • Directly across the street from Safeway, Shopper’s, BCL • 3 blocks from the hospital • New roof
Chris Wieser Avison Young Commercial Real Estate (B.C.) Inc.
A8 Lower Mainland/Services COMMERCIAL MORTGAGES • Property Acquisitions • Construction • Refinancing • Strata & Condo Corp. Financing
2nd MORTGAGE INVESTMENT BOUTIqUE REAL ESTATE 4 pLex-vAncouver-kItsILAno 15% Per Annum Rate of Return Secured Mortgage One Year Term Excellent Inner City Location Construction Starts Sept 1, 2012
BUSINESS LOANS • Mergers • Acquisitions • Expansion • A/R • Heavy Equipment • Machinery • Trucks • Trailers
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WILLIAM 604-244-1986
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A9
WESTERN INVESTOR AUGUST 2012 www.westerninvestor.com
FEATURE Venture capital could be easier to get this year – unless you’re a “liar, a quitter or a jerk”
Tapping angels WESTERn InvESTOR
E
ver since the B.C. government opened up its small-business venture capital program to eligible business corporations nine years ago, the project has been a magnet for startups.
These include Richmond-based Emergent Waste Solutions, which is looking to its new status in the program to spur investment. “The eligible business corporation is probably our best tool for attracting the money to get in the door,” said Emergent CEO Kevin Hull. Emergent holds Canadian rights to a pyrolysis technology that uses heat to convert carbon-based waste such as rubber tires, wood chips, livestock effluent and recycled plastic into valuable byproducts such as activated carbon used in water filters. The government recently added $3 million to its $30 million tax-credit program for 2012, 2013 and 2014 under the Ministry of Jobs, Tourism and Innovation.
Tax credits
Angel investors in an eligible business can receive a 30 per cent tax credit up to $60,000 a year. So if they invest $200,000, the amount they’re risking is reduced to $140,000. The extra $3 million allows for up to $10 million more equity capital for businesses that qualify. “If you look at all of the work that has gone on since the program was introduced back in 2003, about half-a-billion dollars has been
raised by small business,” said Jobs Minister Pat Bell. “Well over 500 businesses out there are utilizing the program.” Companies applying must be less than two years old, have f e w e r t h a n B.C. Jobs Minister Pat 100 employ- Bell: “well over 500 ees and devote businesses out there are more than half utilizing the program.” of their work to a qualifying activity: clean technology, interactive digital media, export manufacturing, destination tourism, regional community diversification or development of Photo: B.C. Government
LORNE MALLIN BIV/ wI sTAFF
Angels can receive up to $60,000 a year in B.C. tax credits proprietary technology. Hull called the phone number on the ministry website and got portfolio manager Rick Manifold. “Rick was unbelievable,” Hull said. “I don’t think I’ve ever seen a better example of client service anywhere.” Emergent’s application was approved in five days, by October 17. If only attracting investors were as easy and swift. “Therein lies the challenge,” said Hull, who
describes a “classic catch-22” – Emergent has the technology and needs money to build a plant, but investors want to see a plant before buying in. Emergent was not eligible for the other stream in the program, which is to become a venture capital corporation. One of the newest is GreenAngel Technology Ventures (VCC) Corp., a clean-tech angel fund managed by vancouver’s GreenAngel Energy Corp. “I think the program has been incredibly effective,” said GreenAngel CEO Bob de Wit. “It has been very important to earlystage companies that are looking for capital because it gives investors a much greater motivation to get involved.” He said that because the investments can be held in an RRSP, the cost of a $10,000 investment for someone in the highest tax bracket is reduced to about $2,700. De Wit thinks the government can go further with tax credits. Instead of $33 million, he said, “Why not have it be $103 million, or no limit at all? new ventures create jobs. The money gets back into the economy quickly.” The province, however, is taking a more go-slow approach. Bell said that he and Finance Minister Kevin Falcon lean toward significant expansion but needed to be fiscally responsible in this period of restraint. Todd Tessier, executive director of the ministry’s competitiveness and innovation division, said 807 eligible business corporations have been registered and $152,398,696 in tax credits have been issued since 2003. In 2011, the program issued $25.2 million of the $27 million available to the businesses, and $1.8 million went to retail-based, prospectus-registered venture funds.u
Angels’ first warning: “Don’t fake it”
A
ngel investing is a personal business in that angels invest in people, their ideas and their ambitions. If someone vouches for you, that’s a great start. What angels try to avoid are liars, quitters and jerks. So don’t be one of those. If you don’t know the answer to a question, say so. Don’t fake it. Quitters are losers. So tenacity, ambition and passion will serve you well – demonstrating this to an investor will serve you well. How? When they ask you for information, give it to them promptly; never make them wait. Finally, don’t be a jerk. A little humility can go a long way. Know what you don’t know. Be coachable and amenable. Take full responsibility for everything. As far as making your pitch, make sure you can make the “business case.” Simply put: what are you selling, to whom, why will they buy it, how will you make a profit and what will the investors get in return for taking a big chance on you? Finding angels is not that difficult. Here in Vancouver, there are numerous networking events where you can find them. One of the best is New Ventures BC – this will help you in defining your business, and finding angels. There are also two venues for meeting angels: the monthly Vantec meetings and the semi-annual Angel Forum. Courtesy: Mike Volker, director, simon Fraser University’s Innovation Office
Lower Mainland MOBILE HOME PARKS
Sidebar: Angels first warning: “Don’t be a jerk”
. . . . . . .
Angel investing is a personal business in that angels invest in people, their ideas and their ambitions. If someone vouches for you, that’s a great start. What angels try to avoid are liars, quitters and jerks. So don’t be one of those. If you don’t know the answer to a question, say so. Don’t fake it. Quitters are losers. So tenacity, ambition and passion will serve you well – demonstrating this to an investor will serve you well. How? When they ask you for information, give it to them promptly; never make them wait. SOLD Finally, don’t be a jerk. A little humility can go a long way. Know what you don’t know. Be coachable and amenable. Take full responsibility for everything. I always get a kick out of those jerks who blame their investors and supporters for their failings. As far as making your pitch, make sure you can make the “business case.” PENTICTON Simply put: What are you selling, to whom, why will they buy it, how will you make a profit and what will the investors get in return for taking a big chance on you. It’s amazing how difficult some people have in efficiently communicating their business idea. Finding angels is not that difficult. Here in Vancouver, there are numerous networking events where you can find them. One of the best is New Ventures BC – this will help you in defining your business, getting mentors and finding angels. There are also two venues for meeting angels: the monthly Vantec meetings and the semi-annual Angel Forum.
. . . .
. .
. .
Courtesy: Mike Volker, director, Simon Fraser University’s Innovation Office
THINKING OF BUYING OR SELLING?
If you are thinking of buying or selling, please give me a call I have many qualified purchasers looking for mobile home parks at this time. Confidentiality observed.
Bill Summers Direct Line: 604-626-8894 Email: bsummers@telus.net
www.sellingmobilehomeparks.com
EXCLUSIVE LISTING
5 ACRES
Excellent Sub-Division
into ½ Acre Lots
5810 – 152 Street, South Surrey (Sullivan Station area) Asking Price: $7,800,000
BILL PARSONS
604.590.4888
wparsons@shaw.ca
A10 Lower Mainland/Business Opportunities JOHN KlASSEN / Bill BARtlEmAN PHOENIX LAND INVESTMENT LIVING WELL 604-859-2341 RE/mAX little Oak Abbotsford
RETAIL 2000 sq ft 31776 S. Fraser Way $13.00/ sq ft $4.00 Triple WAREHOUSE – NEW 2044 sq ft – 58000 sq ft $4.75 – 5.75 sq ft + cam
OFFICE Medical corridor 2309 McCallum 2461 sq ft $15.00 + cam 1200 sq ft $15.00 +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
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GREATER PHOENIX RESIDENTIAL LOTS FOR SALE
m.m7430@gmail.com
High Volume. High Traffic. 10 Years of success In Valley Fair Mall Maple Ridge Offered at
SALE FROM THE BANK! FULLY SERVICED LOTS
VANCOUVER DEVELOPMENT SITE Build 60+ townhomes. Rare opportunity. Application in process EASY TO OWN Fully – leased automotive centre A-1 Condition – Good return. $1,380, 000 SURREY / LANGLEY HOTELS Several attractive packages from $3.8million LANGLEY DEVELOPMENT LAND Near freeway - some for building soon, others for short hold
Matthew Moadebi 604-329-6771 (Cell)
LASER & SKIN CARE CLINIC
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West Coast Realty LangLey
RAY LEWIS
$299,000
CASS MACLEOD 778-773-2903
cassman@shaw.ca COLDWELL BANKER TRI-TEL REALTY
www.cassman.ca Turnkey GrOCery & DeLI Central Chilliwack, BC.
Well established business, selling meat, cheese, dry goods, light lunches & catering contracts. Only $59,900 plus inventory o.b.o.
8.75 AC COunTry eSTATe East Chilliwack, BC
604-812-9733
CHILLIWACK, BC PREMIUM COMMERCIAL BUILDING For Sale $2,100,000 MLS® H3120091 9345 Main St & 45858 Wellington (parking lot) must be sold together. This is a corner site with excellent street exposure in a high traffic, prime downtown location with 2 solid tenants. New roof and extensive renovations done in 2011.
Nyda Chilliwack
4 AC in revenue producing Hazelnuts, 5,893s/f. Architect designed Swiss style home 26’ x 41’ shop, chicken barn, green house, & pond. All for only $1,189,900
For more Information please visit www.KafkaRealEstateTeam.com
For more information contact Denny Friesen 604-798-0113 or 604-858-7179
POWELL RIVER INVESTMENT O P P O RT U N I T I E S Storage Facility
1.3 acres with 16 storage bays, office, 21’x41’ shop/bay with 3 phase power. Fully fenced, easy highway access, good exposure, room for expansion, just minutes south of Powell River. $349,900
New Construction
Retire in style! 2460 sq.ft. rancher on private 1 acre. 25 minutes from Vancouver by plane. Great value! Only $479,000
Ideal Agri-Business Opportunity
102 acres fairly level land; many possibilities; easy access; in ALR $569,900
TRudE KafKa cel: 604-791-1304 email: trudek@smartt.com Sutton Group Showplace Realty Ltd.
COURT ORDERED SALE • 98 Unit Multi-Family Site • 125,710 buildable square feet • 82 condos; 16 townhomes • Oceanfront view site • Foundation and site servicing
Darren McCartney 604-892-4875 darren.mc@shaw.ca
AUGUST 2012 WESTERN INVESTOR
RE/MAX Sea to Sky Real Estate Squamish
$140,000
DELTA HAIR SALON
WESTSIDE HAIR SALON FOR SALE REDUCED $29,000 LIQUOR STORE IN DELTA SHOPPING CENTRE FOR SALE $1.59 MILLION. 15376 S.F. RETAIL OFFICE BUILDING IN DELTA FOR SALE $5.8 MILLION. LANGLEY BAKERY FOR SALE $119,000. $400k PER YEAR SALES. MAjOR TOOL & DIE COMPANY FOR SALE WITH LAND AND BUILDINGS $6 MILLION. LOOKING FOR SPACE FOR: • Junior Kindergarten, 5000 – 8000 sq. ft. • Produce/Butcher 5000 sq. ft. • International News, La Taqueria, Uncle Fatih Pizza, Rasoee, 400-1200 sq. ft. LOOKING FOR MULTIFAMILY & HOTEL PROPERTIES • Prince George.
Michael Anderson 604.374.1171
michael@northernvisionrealty.com
Matt Gratton 778.554.9100
matt@northernvisionrealty.com www.northernvisionrealty.com
Kitsilano RestauRant 2685 Arbutus St. (at 11th) Price $199,000 - 2685 Arbutus - Gramercy Grill - 1800 s/f - 60 seats + 24 on patio - Sales - $1Mil, $50K Net - American cuisine, Est. 12 yrs - Priced for quick sale Bring Offers Mixed use Building 337/339 E Hastings (Near Main) Price: $1,388,000 - 337/339 E Hastings, 3 lvl, 6166 s/f - 24 years old - Concrete Block - Fully rented at $6800/mo net - 3 parking stalls at rear, gated davie RestauRant 1175 Davie St. (Near Thurlow) Price: $249,000 - Laziza Modern Mediterranean - newly established (Jan 2012) - West End 1500 s/f w/48 seat - 8yr lease + 5yr option, Sales 50K/mo 3 CoMMeRCial stRata units 102/103/104 - 1625 Hornby (at Beach) Price: $829,800 - Total 943 s/f. 3 individual strata lots #102 (352s/f, #103 (220 s/f), #104 (371s/f), 19 ft ceilings - Waterfront retail or Office Strata
Les Twarog (604)671-7000 1428 W 7th Ave., Vancouver, B.C. To view listings please visit:
www.6717000.com/biz AUGUST 2012
Crest Realty (Westside)
A11
WESTERN INVESTOR AUGUST 2012 www.westerninvestor.com
FEATURE Questions swirl as Squamish First Nation plans towers in Vancouver and the North Shore
Band plans spook cities GLEN KORSTROM/BIV WESTERN INVESTOR
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he Squamish First Nation’s (SFN) plan to next year start building two towers expected to be 35 and 28 storeys tall on eight acres of reserve land at the south end of Burrard Bridge is creating both excitement and fear, because the SFN have so far said little about the project.
Photo: Vancouverhouseprice.com
“We don’t have anything for an interview,” SFN spokeswoman Krisandra Jacobs told Business in Vancouver. “Our department of intergovernmental relations, natural resources and revenue are reviewing the project, so we don’t have an update.” Some fear that the project, set to launch construction next year, will impact area residents when hundreds of future residents use city services. Former Vancouver mayor Sam Sullivan, however, likes the concept of highrises north of the Molson Brewery site on Burrard Street – a project that he believes Vancouver city council would never have approved had the towers required civic approval. “Close to the downtown core is where you get the benefits of density,” he said. “The SFN could be doing a real service for the city by helping people to rethink densification.” He expects that the Squamish will enter into a similar service agreement with the city to the one that the Musqueam Indian Band (MIB) has for developments on its reserve land. The MIB compensates the city to connect
First Nation band plans to build two towers at the southern end of the Burrard Bridge near the Molson Brewery site, shown at the top left of this photo.
its projects to city services such as sewer and water. Residents on Musqueam land also use city streets, parks, recreation centres and libraries. So, compensation to the city for the non-property-tax-paying residents on Musqueam land is similar to what the city would be able to charge a private developer and home owners were the development built on non-reserve land, Sullivan said. Not all service agreements are as equitable.
North Shore
North Vancouver District councillor Alan Nixon is concerned that the Tsleil-Waututh Nation (TWN) is not sufficiently compensating his district for the use of services from
about 1,300 residents at the rapidly growing 450-home Raven Woods development near Deep Cove. The TWN started developing condominiums that it then marketed on a long-term, prepaid-lease basis to buyers. Development proceeded through the years and service agreements that were based largely on a flat fee were renewed several times, Nixon said. “We now have in the order of 1,300 [nonnatives] living on the TWN reserve,” said Nixon. “Those 1,300 non-members definitely consume and avail themselves of services that the taxpayers of the District of North Vancouver pay for.” Nixon would like to move to a system
where the TWN pays an equivalent amount for using city services as nearby North Vancouver residents. He is also concerned about the impact of potential future SFN development south of Park Royal on the 528 acres of reserve land that the band controls. The SFN does not require civic approval for development on that land, just as the SFN does not require Vancouver civic approval for development near the Burrard Bridge. “Over time, the SFN are looking at several thousand residents in towers near Park Royal,” Nixon said. “What is the impact of those several thousand residents on the North Shore transportation network, the hospital network?” The SFN, meanwhile, has been careful about what it releases to the media.
Secretive
Chief Gibby Jacob told media in 2010, when the SFN signed a memorandum of understanding and protocol agreement with the City of Vancouver, that the SFN’s Burrard towers would likely cost hundreds of millions of dollars. The SFN has not yet said how it is financing the project or what interest rate it’s paying. Financing can be a problem for a First Nation that wants to build multi-family projects on its land because prospective future residents are not able to buy title to the homes.Financial institutions, pension funds or other lenders similarly have no recourse for projects on reserve land. “They can’t register liens,” explained Nixon, who sits on Metro Vancouver’s new aboriginal relations committee and was a longtime member of the Lower Mainland treaty advisory committee.u
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353 WATER ST.
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21 WATER ST. - The Packing House
1428 W HASTINGS ST. – DOCKSIDE LIVE/WORK TOWNHOME
PARIS ANNEX COMMERCIAL RETAIL/OFFICE UNITS • GOOD CEILING HEIGHTS • LARGE RETAIL DISPLAY WINDOWS • NEWLY RE-DEVELOPED CONCRETE CONSTRUCTION • UNIT SIZE: FROM 934.31 SF TO 1,102.22 SF APPROX., AS PER STRATA PLAN) • ZONING: DD (DOWNTOWN DISTRICT)
LIST PRICE: FROM $389,000
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1523 E. PENDER ST.
• BEAUTIFULLY FINISHED LIVE/WORK UNIT IN COAL HARBOUR • IMPRESSIVE LAYOUT WITH 2 FULL WASHROOMS AND 1 HALF WASHROOM • 2 PARKING STALLS • UNIT SIZE: 1,315 SF (APPROX., AS PER STRATA PLAN) LIST PRICE: $ 988,000
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611 POWELL ST.
350 & 356 CARRALL ST.
608 W PENDER ST./515 SEYMOUR ST.
• THE MALONE’S DOWNTOWN & CAMBIE (SEYMOUR) HOSTEL. 40 GUEST ROOM HOSTEL (74 BEDS), A 125 SEAT RESTAURANT & A 150 SEAT PUB W/ AN OFF SALES LOUNGE. • LOCATED ON THE CORNER OF WEST PENDER ST. AND SEYMOUR ST. • EXCEPTIONAL OPPORTUNITY FOR INVESTORS, OWNEROPERATORS AND DEVELOPERS LIST PRICE: $ 8,500,000
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 (APPROX., AS PER STRATA PLAN) • ZONING: HA-2 (GASTOWN HISTORIC AREA) LIST PRICE: $1,990,000
ROBERT THAM • MARC SAUL • Corbel Commercial Inc. www.corbelcommercial.com • Tel: 604.609.0882 • Fax: 604.609.0886 • 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.
A12 Lower Mainland 46713 Balsam Ave Chilliwack $3,900,000
FOR MORE INFO: www.46713balsamave.com
Balbir Sidhu 604-897-3147 Toll Free 1-877-857-1921
Ace Agencies Ltd.
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LONG TERM INVESTMENT FOR SALE $2,950,000
INVESTMENT OPPORTUNITY 30.85 acres of farmland - level and cleared surrounded by residential subdivision. City water, sewer, natural gas, electric and cable at property line. In A.L.R. but may have potential to exclude for future development potential.
www.westerninvestor.com AUGUST 2012 WESTERN INVESTORW
This property is located in the Fraser Valley and has 2 Triple “A” National Tenants on Long Term Lease. The Main tenant is a Farm Equipment Dealership and the 2nd is a Mini Storage Co. Both have been there for the past few years and planning to stay there for a long time. This property can be purchased with, or without tenants.
1-800-661-6988
www.westerninvestor.com
To view call: Rae Forest
604-791-2179
WhEELEr ChEAM
FOR SALE
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34594 4th Ave., Abbotsford 0.38 Acres - High Exposure C3Zoning
MLS# F3200005 $599,000
7648 197th St., Langley MLS# F1209538 2 Acres - Latimer Plan Townhome Designation $1,695.000
9375 176th St., Surrey 4.7 Acres - Tynehead/Anniedale NCP Mixed Use Designation
MLS# F1205631 $4,695,000
20425 82nd Ave., Langley MLS# F1129474 2.5 Acres $2,195,000 Yorkson NCP Single Family Designation
34801 Delair Rd., Abbotsford Approved 31 Unit Townhome Site
MLS# F3200006 $2,095,000
21722 Maxwell Cr., Langley MLS# F1209709 5.02 Acres - First Time For Sale REDUCED $988,000
7216 Horne St., Mission Restaurant / Land near Waterfront
MLS#F3200544 $779,000
32024 Joyce Ave., Abbotsford Land / Building, Prime Location, ZONING C6 - Commercial
We have buyers for development sites in the Fraser Valley.
Please contact JOE VARING at 604-859-3141
w w w. VA R I N G G R O U P. c o m
MLS# F3200806 $1,475,000
Lower Mainland A13
WESTERN INVESTOR AUGUST 2012 www.westerninvestor.com
www.naicommercial.ca Commercial Real Estate Services, Worldwide.
richmond
• Industrial building w redevelopment potential $6 Million • Mall – corner of Alexandra & Hazelbridge $7.8 Million
white rock
• Towncentre highrise site
$14.4 Million
rIck luI 604-644-6182 rick@naicommercial.ca
www.naibusinesses.ca rV rentAL & SALeS weStern cAnAdA neW lIsTIng Well established RV business, consistently profitable. Experienced staff and management. Online reservation system overseeing a fleet of over 300 rental motor homes. .......................$11,000,000 VAncoUVer iSLAnd reSort & SPA Profitable resort, lodge and spa offering world class dining and spectacular ocean views. Situated on 8.56 acres of oceanfront property with future development potential. ......................... $PoA hALcYon hot SPrinGS ViLLAGe & SPA Year round outdoor playground with spectacular facilities. Profitable resort & spa business with natural hot springs. 35 acres with 800m water frontage and strata chalets. Business and property. $15,900,000 cUStom miLLwork (Van Island) neW lIsTIng Over 20 yrs in commercial millwork and custom door manufacturing. Averaging $5M in revenue Top of the range equipment. $1.95m inc equip metAL FABricAtion (Lower Mainland) neW lIsTIng In business for over 20 yrs. Traditional metal processing and installation company. Sales average $5.4m $2,490,000 inc working cap niGhtcLUB BAr & GriLL (Kootenays) Award winning nightclub in the Kootenays. One of the largest licensed establishments in BC with popular restaurant $550,000 VAncoUVer dinner crUiSe BUSineSS REDUCED In business for over 15 years operating two yachts from Downtown Vancouver. Nets $310,000 ..............................$1.85m inc yachts Lower mAinLAnd AUtoBodY ShoP neW lIsTIng 30 years in business. ICBC Valet accreditation since 2008. Well maintained paint booth with oven. Long lease on 3600sq.ft shop ......................................................................$249,000 inc equip SUcceSSFUL cAFe reStAUrAnt reduced Hugely popular cafe in downtown Squamish. Approx $620K annual revenue. Rent only $1,100/mth. Easy to operate. Turnkey operation ......................................................................$249,000 inc equip
alf sanderson delon cheung 604-691-6646
alf@naicommercial .ca
604-691-6654
delon@naicommercial .ca
34 SUite APArtment Bc, kAmLooPS • Gross income $265,000, Net $210,000 • Good tenants and well maintained Price $2,750,000 12 SUite APArtment Bd, kAmLooPS • Gross Income $121,800, Net $97,702 • Good tenants and well maintained Price $1,300,000 indUStriAL BUiLdinG, VAncoUVer • 16,300 sq. ft. for Sale • Currently vacant, Price $3,000,000 moBiLe home PArk, merritt • Gross Rev. $182,688, Net Income of $113,118 • Good expansion potential with 5.82 Acres Price $1,775,000 rV & mini StorAGe, crAnBrook • 4.65 Acres, expansion options to double number of units • Gross Revenue $189,700, Net $152,600 Price $1,650,000
MIchael MarckWorT 604-691-6638 michael@naicommercial.ca
COMMERCIAL STRATA FOR SALE LAngLEy FRASER HIgHwAy FROnTAgE COMMERCIAL STRATA UnITS - 2 TO CHOOSE FROM • 2160 sq. ft. ready for your improvements • HVAC and sprinklers to an open plan • wAS $635,000 now ASkinG $605,000 • 2617 sq. ft. • Income from current lease until 2013 • wAS $749,000 now ASkinG $710,000 InVESTMEnT InDUSTRIAL STRATA FOR SALE 102/103 26730 56 AVE LAngLEy • 6% CAP on ask. Good tenant with new 5 year lease • 4908 +/- sq. ft. footprint with 1560 sq. ft. office and 1560 sq. ft mezzanine • Asking: $689,900 #3 27250 58 CR. LAngLEy • 6% CAP on ask. International Tenant • New 3 year lease with options • 2000 sq. ft. footprint with 1000 sq. ft. office and 1000 sq. ft. warehouse down, and 1000 sq. ft. office and showroom up • Asking: $465,000 RETAIL STRIp InVESTMEnT DOwnTOwn LAngLEy • 5 CRU’s • 10,484 sq. ft. rentable on a 14,636 sq. ft. lot • Strategic corner location • PROFORMA NOI $147,312 or 5.9% CAP on ask • Owner may guarantee income for 1 year to allow further lease up • Asking: $2,500,000 JESKE CORpORATE CEnTRE Executive Office Suites FOR REnT • Individual Private Executive offices • 24/7 secure access • Sizes from individual (134 sq. ft.) to multi person (256 sq. ft.)
Tobiano golf Course, Kamloops BC • Court Ordered Sale! • Fully operational Golf course and clubhouse • Ranked best public course in BC & 10th overall in Canada • pRICE: $5,500,000 10,105 sq. ft. Office Building, Abbotsford BC • Court Ordered Sale! • 3 storey office building totaling 10,105 sq. ft. • 25 underground parking stalls & 7 surface spaces • REDUCED: $2,495,000
COURT ORDERED SALES
160 Acre Development Site, Abbotsford BC • One legal quarter section totalling 160 acres • Zoned LU/R-1(Limited Use Resource/Residential) Price: $3,900,000 459.1 Acre Development Site, Cranbrook BC • Zoned CD-1 & UH-R allowing for low & medium density residential • Surrounding Gary Player designed golf course Price: $22,300,000 1.37 Acre Residential, Coquitlam BC • One legal parcel totaling 1.37 acres • Zoned RS-2 • Close to all amenities Price: $1,225,000 116.53 Acre Development Site, Invermere BC • Triple Zoned R-1, A-1, & SH-3 (various uses) Price: $1,499,000 INDUSTRIAL & DEVELOPMENT SITES 43,560 sq.ft. Industrial waterfront Site, new westminster, BC • Zoned M-2 (Heavy Industrial) • Five contiguous water lots • 330 feet of riverfront Price: $950,000 0.6 Acre Industrial Site, Maple Ridge BC • Direct water and Highway access with access to rail • Zoned M-2/RS-3 (Light Industrial/Residential) Price: $375,000 1.82 Acre Multi-Family Site, Sechelt BC • One legal parcel totaling 1.82 acres • Zoned CD-13 (maximum of 47 units) redUced! $1,650,000 23.3 Acre Agricultural Site, Delta BC • One legal parcel totalling 23.3 acres • Zoned A-1 (Agricultural) • Easy access to Highways 99, 91, & 10 redUced!: $2,200,000 27.6 Acre Agricultural Site, Langley BC • One legal parcel totalling 27.6 acres • Zoned Ru-5 (Rural Floodplain) • Adjacent to Nathan Creek dyke redUced!: $2,000,000
gary haukeland or j.d. Murray
604-683-7535
gary@naicommercial.ca jdmurray @naicommercial.ca
GrAnd PrAirie Mixed O/R $130,000 stabilized N, 9% Cap kAmLooPS 254 Royal Ave 45 units
$2.925 m
keLownA 64 Unit Condo/retail. Core area. “build to suit’ $11.75 m Prince GeorGe 118 Acre, 4 M Meters gravel, (abuts airport) $3,200,000 1063 Great St., 5 acres, 17,500 s.f.
$2.8 m
Prince GeorGe 3 Separate Apts. 12-16 units SUncor/mcdonALdS diSP. 4 sites 13,000 s.f. to 40,000 s.f. qUeSneL 1.7 Acre, 3 nationals, 19,500 s.f., $281,500 $4,700,000, 6% rAmAdA VALemoUnt 70 Rooms, all amenities, share sale, 9% Cap Rate wiLLiAmS LAke Portfolio $467,049, NOI, $6,225,000, Cap 7.50%, 5 Buildings
tedw@naicommercial.ca
PeTer seed 604-691-6608 peter@naicommercial.ca
BRIDAL & EVENING WEAR BOUTIQUE (Lower Mainland) Profitable & long established business. Great location. Nets $200K+ . .......................................$449,000 + inv NEW LISTING FAST FOOD FRANCHISEE (North Vancouver) Mall location $320K Gross ........................................ $228K + Inv MOTEL PUB LIQUOR STORE (Vancouver Island) Lake frontage 15 rooms, 188 seat pub, restaurant, liquor store Revenue $2 mil. ................................................................... $2.8Mil HOME ACCESSORIES & FURNITURE (Surrey) French classic & contemporary touch. Profitable ..........$99K + Inv
eqUiPment rentALS (Metro Vancouver) • Long established • Very Profitable • Fully managed • $2.3mil annual sales .................................... Shares $3.0mil GArAGe door rePAirS & SerVice (Lwr Mnld) • Established 22 years • Home based & easy to run • Mostly residential services • 85% repeat customers • Nets $110,000 to a family of two ............... Shares $219,900 doLLAr Store FrAnchiSe (Fraser Valley) • Established in 2001• Premier location in a large mall • 4,000sf store • $795,000 annual sales......... $188,000 + inv
elIzabeTh WoznIczko 604-691-6648 elizabeth@naicommercial.ca
Ted sTellakIs 604-691-6692 stellakis@naicommercial.ca
Ted WeIbelzahl 604-514-6825 or 1-800-890-9855
Committed to Canada. Connected to the World.
A14
www.westerninvestor.com AUGUST 2012 WESTERN INVESTOR
COVER Upgrading and greening old commercial buildings delivers sustainability to the bottom line
Deep green retrofits WEsTERn InVEsTOR
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wners of commercial buildings can make more income “mining” their existing inventory than building new, a recent Vancouver conference on green construction was told – and they could also make a startling reduction in greenhouse gas emissions.
Metro Vancouver alone has 1,697 highrise buildings that are more than 30 years old, a few hundred that date back more than 80 years and another 381 that were built between 1990 and 1999, according to the Building Owners and Managers Association of BC (BOMA BC). There are at least 5,000 more such aging towers across Canada. In Vancouver, they represent 98.5 per cent of the commercial space. “A staggering number of these buildings are in need of complete retrofits if they are to continue to perform efficiently and remain attractive to tenants,” Lorina Keery of BOMA BC told a recent meeting organized by Vancouver’s Lighthouse Building Centre. The June seminar, entitled “Extreme Makeovers: Whole Building Retrofits,” featured a panel of building owners, property managers, energy experts and architects who have worked on taming the old energy hogs. The aging buildings are often heat-
ed with rugged but wasteful old boilers, cooled inefficiently, lack control systems and need lighting upgrades. They also waste a lot of valuable lease space, the audience was told. Bryce Conacher, manager of the Renew program with Ledcor Construction, said bringing the aging inventory up to modern energy-saving standards is an investment, not a cost. “This is the new resource, the resource for the next decade. Mining that resource for energy savings and other opportunities is the real payback,” Conacher said. The persquare-foot productivity of an old building can be dramatically improved with a “deep green” upgrade, he noted. It is Ledcor Renew’s contention that, instead of “chipping away” at an older building by slowly replacing old heating, cooling and lighting equipment to save energy, it is best to do the entire upgrade at once, and put in modern control systems to make it all work together.
“Compact heating systems freed up an entire floor of leaseable space”
More leaseable space
This is not always an easy sell. The typical building owner must tolerate a 10-year horizon on financing, but will see immediate annual returns on investment that would beat most equity or stock plays, Conacher said. Ledcor has documented that the average return on investment for a whole-building retrofit of an aging commercial building is 9 per cent or better.
585 Howe Street, Vancouver: the 30-year old, 112,000square-foot, Class b office tower underwent a complete retrofit. all heating, cooling and lighting was replaced and new digital control systems put in place. Result: a 32 per cent annual saving in energy costs, a 618-tonne reduction in greenhouse gas emissions and a total payback in 12.9 years.
In one case study, a $22 million retrofit and energy-saving program in a 22-storey, 40-year-old office tower to LEED silver pencilled out to a 17 per cent return on investment. And it was not just in energy savings. not uncommon in old towers, the existing HVAC hardware took the entire two top floors of the building. By upgrading to efficient compact heating systems, an entire floor was freed up for leasable space, Conacher said. “The value proposition is that, instead of improving the bottom line through acquisition, look into the existing portfolio and mine that asset,” Conacher said. The expert panel also included Derek Page of building owner and developer Oxford Properties, property manager Jim MacKenzie of Colliers International and Toronto architect Paul Gogan of B+H Hunting Coady, which led the $130 million
Photo: Colliers International
fRank O’bRiEn
retrofit of the 75-storey First Canadian Place in Toronto. It is not cutting-edge green construction that is the key to turning old Class B space into Class A inventory, the experts say: it is replacing old equipment and getting the tenants to buy into an energy-saving attitude. such changes aren’t sexy like green roofs or solar panels but they can deliver a much better return, MacKenzie explained. On rooftops, it is more efficient to add improved insulation than opt for solar heating panels or planted materials, the panel agreed. The experts also noted that it is often not worth the cost of replacing existing glazing, that is in good shape and double-paned.
Lower Mainland
Collett Manor Residential & Wellness Facility – Hospital District Kelowna The first development of its kind in the newly created Hospital District (HD-2). We are offering the Okanagan a sustainable and accessible environment that enhances healthy living for our community and those travelling for medical purposes.
Quick Facts
Our facility provides the infrastructure for a range of medical related commercial and residential uses. The zone allows for permanent condominium living, apartment hotel, health services and food establishments. Collett Manor will be enjoyed by residents, professionals, their clients/patients or their families who find themselves visiting or working at Kelowna General Hospital, Cancer Centre or students enrolled at the UBC Medical program.
• Medical Related Commercial Space (Treatment, Health Services, Retail)
Our team has redefined what’s possible by designing for tomorrow. GTA Architecture Ltd. has embraced the surrounding heritage flavour by honouring the 1913 Collett home. Accelerating the Collett home into the future, Begrand Fast Design Inc. has injected a modern simplicity into the interior. Together we have created a mix of private and community spaces that forces you to re-think and re-imagine what can be created with four walls – adapting for your life.
For more information Pandosy Street Developments Ltd. 250-878-5182 or 250-764-0700 GTA Architecture Ltd. www.gtarch.ca Begrand Fast Design Inc. www.begrandfastdesign.com
• Residential Uses (Apartment Hotel, Condo Homes) • Across the street are Kelowna General Hospital and the Southern Interior Cancer Centre; the largest healthcare campus outside of the lower mainland and home of the UBC Medical program. • One of Canada’s largest and fastest growing health authorities, Interior Health provides integrated healthcare services to people living in communities stretching from Kelowna to Kamloops and Cranbrook. IHA anticipates helping 860,524 people within their catchment area by 2026.
Kelowna General Hospital CSB Building
KGH Parking
Collett Manor
Register@Collettmanor.com
This is not an offering for sale. Sales can only be solicited and completed with a disclosure statement. Informational content ONLY
Photo Credit: Interior Health Auth. Okanagan
Kelowna’s newest neighbourhood... the urban convenience, pedestrian-lifestyle and heritage character mark Pandosy Street as the most desirable place to live, work and visit. Having the Pandosy Village, Downtown, beaches and parks at your doorstep, make it easy to enjoy an active lifestyle or focus on healing with all the comforts of home.
• New Hospital District Zone (HD-2)
Working with non-profit societies, foundations or organizations to provide travel accommodations for patients and families. Contact us now
Until you have experienced the difficulties of a medical situation that may involve multiple people the time and costs of finding both accommodations, and the transportation back and forth, it isn’t something most people think about... We did.
A15
WESTERN INVESTOR AUGUST 2012 www.westerninvestor.com
MacKenzie, whose company manages 47 million square feet of commercial space around the globe and often consults on retrofits, said the energy saving usually focuses on boilers, coolers and lighting, where the payback can be measured and immediate. He said many builder owners are rightfully wary of fancy new green technology. “Some of this is obsolete before it is paid for,” MacKenzie said.
Construction Association warns of “green liability”
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As a comparison, many of the original energy-eating boilers and coolers in old buildings, even those 30 or 40 years old, are still working fine. Their reliability has likely delayed a more-rapid move to retrofits, he said. MacKenzie said simple solutions can provide big savings. When a tenant in a 105,000-square-foot Vancouver office building hired more staff, the energy costs also increased, he explained in a case study presentation. By upgrading the digital controls to monitor and direct the new energy demands, “energy consumption for heating was reduced by 26 per cent, resulting in a two-month payback.” Replacing conventional exit lights with LED lamps can reduce energy use from 30 watts per fixture to three watts per fixture. “Simple is better,” MacKenzie said.
Good Earth
A case in point is the Good Earth Building at 595 Howe Street in Vancouver, built in the mid-70s and totally retrofitted in 2006. Under a Colliers program, all lighting was replaced with T-8 lamps with electronic controls; old boilers and coolers were replaced with high-efficiency units. As in many old buildings, MacKenzie said, the original coolers and boilers were at least 30 per cent oversized.
Photo: Brookfield Properties
Simple is better
First Canadian Place, Toronto: $130 million retrofit and recladding of Canada’s tallest office tower. The 45-year old, 72-storey, 2.8-million-square-foot building had the latest mechanical and electrical systems installed and marble façade replaced. Result: Annual energy saving cut by 17 per cent; increased leaseable space. Payback: 16 years.
The result was a 32 per cent reduction in energy costs, an increase in lease rates for the 112,000-square-foot Class B building, a 618-tonne reduction in greenhouse gas emissions – and payback of the total cost in less than 13 years. Oxford Properties also discovered that simple works when it embarked on the whole-building retrofit of the 45-year-old Guinness Tower on West Hastings Street in Vancouver, part of re-development of a block that includes the historic Marine Building and a new LEED-rated office tower that starts construction this year. While the entire HVAC, water and lighting systems in the Guiness Tower were replaced, small changes also delivered startling savings. By just upgrading lighting in the underground parking with occupancy sensors – a
$20,000 expense – Oxford saved $4,075 per year. The largest example of a Canadian office tower energy retrofit is First Canadian Place in Toronto, which included more than replacing the mechanical systems and lighting. Built in 1975 and still the tallest office tower in Canada, the entire marble façade was stripped off the 75-storey building and replaced during the three-year retrofit, explained Gogan. The payback was enhanced when moving windows in the bottom two floors resulted in more leaseable retail space at a prime downtown location, he noted. All the panellists agreed that any green upgrades must always include an attitude adjustment by the building’s tenants so they will support energy-saving ideas and cooperate with recycling efforts.u
he BC Construction Association (BCAA) has released a study on the risks and liabilities of green buildings, which cautions that reliance on new energy-saving technologies and materials could lead to lawsuits. The 74-page report states: “Our association is very supportive of sustainability in the built environment. However, we recognize that any time our members are faced with the need to embrace new concepts it is essential to investigate the broader consequences to the industry. Liability is always a large factor to be considered.” The purpose of the study was to examine the risks of defects associated with building green. The study looks at a number of U.S. cases where liability issues surfaced on green construction, and it includes some warnings for Canadian architects and contractors. For example, it notes that if the owner of a building is sued because of underperformance of a green building, he or she is likely to pass blame onto the designer and the contractor. The study notes that green-roof contracts and high-performance glazing may be particularly vulnerable, since most liability is seen regarding the building envelope. Phil Long, chair of the BCCA’s sustainability advisory council, sees the report as providing a good “heads up” to developers as they take on green projects. “If we recognize the issues up front we can take steps to manage our contracts and avoid problems before they occur.”
Lower Mainland MEHRAN MOALLEM
Sidebar:
B.Elec. Cert. Marketing Business and Commercial Consultant
HEAD = Construction Association “green P R O P E R T Ywarns & ofB U S liability” I N E S S I
OFF cau-
‘A study on the risks and liabilities of green buildings’ which tions that reliance on new energy-saving technologies and materials could lead to lawsuits. The 74-page report states: “Our Association is very supportive of susIndustrial space in S. Burnaby Fast food D0wntown Vancouver Retail space fully improved tainability environment. we recognize that anysq ft many uses, ideal for 1238 Over 1500 sq ft in in 5the yearbuilt old prime LocationHowever, Location Location. in medical, central fully improved to with business for many years right timelocation our members are faced the need to embrace new concepts it dental or ... $859k suit most needs (½ office ½ ware- across the Stadium. Seller will train. Dunbar Vancouver is essential tooverhead investigate consequences to the industry. house w/ loading door)the broader A must see. Liability isNTalways a large factor to be considered.” SS ED T NE RTY EASTME UC 0K the risks of defects associThe purpose of the study was RtoED examine USIROPE GRVE 0 B 1 $ IN &P BY ated with building green. The study looks at a number of U.S. cases where liability issues surfaced on green construction, and it includes some warnings for Canadian architects contractors. Industrial retail "with property" Denny’s Great opportunity Industrial space 7000sq and ft space 5000owner sq ft, of 12 ayears, located at because & land,For 2 offi ces, autoit&notes body that if the 5000 sq ft & woodworking/ cabinet example, building is sued shop, hoist, paint room Lynmore busiest shopping centre in the area business Port Coquitlam of underperformance of a green building, he or $599k she is $499k likely to pass Greater Vancouver North Vancouver $1,998k $1.3 Million blame onto the designer and the contractor. T The study notes that green roof and high-performanceL D EAcontracts E GRCOM SO N glazing may be particularly vulnerable, since most liability is seen I regarding the building envelope. Phil Long, chair of the BCCA’s sustainability advisory council, sees the report as providing a good “heads up” to developers and contracIndoor Amusement Gift/convenience @ Industrial space 1600 sq ft tors as they takestore on green projects. “If we recognizepark the issues upfront, 7500 sq ft 3 years Great income, Central location must sell, Rented Marriott Hotel we can to manager our contracts and avoid before spent over $750K. Laser,problems bump 3 years old,take greatsteps income, easy month to month, make an offer car, ball room and more. to operate, high profit margin they occur.” Burnaby $367k $129k
Surrey
$469k
mehranmoallem@gmail.com B U S I N E S S E S
L I IONA ,888 ROBritish he Columbia Construction Association (BCAA) has released 8 FESS O 2 % R 1 5 P $ CE
T
778-858-9025
RE/MAX CREST COMMERCIAL DIVISION
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 Strata
DT Vancouver $299k 376 sq ft on Mainland
4 Res. Units
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 Great income
DT Vancouver Many years in business
NEW
UBC FOOD Court $300k sales $85k Net
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
Huge Growth Potential Why Rent? Replacement
Food Court Business Shopping Mall Greek Food 5 years old Franchise or no Franchise
SOLD
SOLD
$99K $59K
www.Bonded Business Brokers.com
A16 Recreational Real Estate LIFESTYLE PROPERTIES •••
•
www.westerninvestor.com AUGUST 2012 WESTERN INVESTOR
“The Source” for Oceanfront, Lakefront, Islands, Ranches, Resorts & Land in BC at:
www.landquest.com 604-664-7630 • 1-866-558-LAND (5263)
KERSLEY CATTLE COMPANY QUESNEL, BC
• • • • • •
1,602 acres – 9 titles Between Williams Lake & Quesnel 500 ac hay prod. – 120 cow calf pairs Great soil & climate Excellent crop production $1,595,000
• • • • • •
DEVELOPMENT ACREAGE MISSION, BC
• Beautiful lush 160 acres • Development property adjacent to upscale neighborhood • Sloped site offers great views • Zoned R-3 allows 8 ha. lot size • $1,395,000
DEVELOPMENT SITE QUESNEL, BC
• • • • • •
Close to town – right on bus route Property in OCP for development Perfect spot for 55+ apartments Fully city serviced 2 parcels – can be purchased separately $339,000 for both parcels
HISTORIC BRITISH COLUMBIA RANCH
• • • • • •
110 years of rich / colourful history 431 acres in a beautiful setting Nazko River runs right through Marmot Lake's only deeded property Plus a private “Firefly Lake” $1,350,000
SOUTH CARIBOO ACREAGES VIEWS OF LAC LA HACHE
• • • • • •
Beautiful views of Lac La Hache Well treed Lots B, D & E are between 2-3 acres Lot C, 8 acres w/ potential subdivision Lac La Hache a short walk away Prices from $39,000 – $99,000
Rich Osborne 604-664-7633 Personal Real Estate Corporation
Rich Osborne 604-664-7633 Personal Real Estate Corporation
Brian Harris 604-664-7636 brian@landquest.com
Brian Harris 604-664-7636 brian@landquest.com
Carson Dorward 250-593-9342 carson@landquest.com
SHOAL HARBOUR MARINA SIDNEY, BC
CHILCOTIN LODGE RISKE CREEK
EXECUTIVE ESTATE / DEV. PROPERTY - VICTORIA, BC
FRASER VALLEY LUMBER YARD & HARDWARE STORE
SNOWY ALPINE ADVENTURES BLUE RIVER, BC
• • • • • •
• • • • • •
SUPER LOCATION w/ dev. potential 25 slip marina 0.44 acre upland & parking Ground floor marine commercial Marine service & repair facility Zoned Marine Industrial $2,600,000
• • • • • •
Country Inn with Bar & Gift Shop One of the last remaining roadhouses in BC Furnished with antiques & memorabilia Beautifully maintained historic log lodge Expansive view of Chilcotin grasslands GREAT PRICE! $430,000
• Zoning allows for 10 acre lots • Panoramic ocean and city views • 99 acres $2,500,000 and 118 acres $2,500,000 • Some drilled wells and driveways already roughed in.
Very high traffic location Major nation brand 11,000 sf of retail space 2 acres of lumber yard Solid business w/ expanding client base $1,700,000
98 sq km of terrain, 868 sf lodge Great summer income opportunities Fantastic 2.5 to 5 m snowpack 27 ft Alpine Stout Winter Yurt Equity partner options also available From $100,000
Dave Cochlan 604-664-7340 dave@landquest.com
Dave Cochlan 604-664-7340 dave@landquest.com
Penny McFarlane 1-250-640-4112 penny@landquest.com
Doug Dyer 604-664-7634 doug@landquest.com
Matt Cameron 604-694-7628 matt@landquest.com
FORMER SPRINGHOUSE GUEST RANCH - WILLIAMS LAKE, BC
NORTH OKANAGAN VINEYARD ENDERBY, BC
LOG HOME ON 180 ACRES ANAHIM LAKE, BC
LYTTON, BC AIRSTRIP DEVELOPMENT
SHUSWAP LAKE DEVELOPMENT LANDS
• Unbelievable resort set up 23 km to Williams Lake • 2 beautiful homes, restaurant, cabins, motel, apartment suites, RV sites, horse barn, machine shed bordering Crown land • Frontage on Westwick Lakes $1,495,000
• Business & lifestyle opportunity • 18.5 ac, 5 acres of grapes (wide variety) • 3 bdrm, 3 bath custom designed westcoast log home in BC’s wine country • Perfect for winery sales and/or B&B • $799,000
• • • • • •
Matt Cameron 604-694-7628 matt@landquest.com
Ken Hunter 604-340-1516 1-855-214-5263 ken@landquest.com
TOLL FREE 1-855-267-2591 ron@landquest.com
Ron Svisdahl
Kurt Nielsen 250-338-6090 kurt@landquest.com
Kurt Nielsen 250-338-6090 kurt@landquest.com
FRASER RIVER HORSE PROPERTY, QUESNEL
THE NEW 108 RESORT CARIBOO REGION OF BC
SKEENA RIVERFRONT FISHING LODGE - TERRACE, BC
PONDOSY BAY WILDERNESS FISHING RESORT
SETON PORTAGE MOTEL
BC preferred immigration program 116 acres over 1 km of riverfrontage Western red cedar log home Second residence 110/220 indoor riding arena $1,199,000
• 548 acres - 18 hole golf, tennis, horses, fishing, biking, hiking etc. • 42 well-appointed guest rooms • Looking for investor/partners • Great development opportunities • $3,970,000
• Turn key fishing lodge. 9.88 ac. • Main lodge w/ guest rooms, licensed dining room & bar, 14 cabins • Commercially licensed smokehouse, outbuildings, boat launch & equip. • 2 classified rod days on Skeena • $1,300,000
• 5 cabins & shop built from 16’x20’ profiled logs in Tweedsmuir Park • Stand alone kitchen/caretaker res. Turnkey Operation • Park Use Permit (restrictions) includes rod days on Eutsuk Lk (100), Musclow Lk.(100) and Pondosy Lk.(50) • $495,000
• • • • • •
3000 sf of cozy living space Fenced hay land produces up to 50 tonnes Numerous out-buildings (shop, barn, etc.) Gravel pit out back (generates revenue) The Dean River runs through the property One hour flight from Vancouver
• • • • • •
58 acres – two titles 3 separate zoning designations Just north of downtown Lytton Services to be installed Airpark potential $489,000
• • • • •
238 acres – south shore Road access – 300 ft WF Great views, power, water 60 lot proposal ready to go HUGE REDUCTION to $1.19M
• 11 motel units, laundromat, 1200 sf 3 bedroom owner’s residence and a vacant 0.5 acre commercial lot providing room for expansion • $399,000
Heather and Mike Dillon 250-706-9680 heatherandmike@landquest.com
Konrad M. Schmid-Meil 250-395-2233 konrad@landquest.com
Denis Dore 250-847-6159 denis@landquest.com
Denis Dore 250-847-6159 denis@landquest.com
Jason Zroback 1-604-414-5577 Jamie Zroback 1-604-483-1605
1939 HERITAGE BOUTIQUE HOTEL - POWELL RIVER, BC
22 ACRES - FRUITVALE BC
160 ACRE EXECUTIVE RETREAT KNUTSFORD, BC
PRIME DEVELOPMENT PROPERTY – PEACHLAND, BC
MILLER LANDS COURT ORDERED SALE - OSOYOOS, BC
Spectacular Okanagan Lake views R-4 medium density multi-fam zoning Large 6.07 acre site on two titles Zoning density allows 100 condo units Only steps from downtown Peachland $3,850,000
• • • • •
• 9 rooms, innkeepers residence, restaurant • Located in the only designated National Heritage District in Western Canada • A perfect lifestyle opportunity • Priced to sell $419,000 Jason Zroback 1-604-414-5577 Jamie Zroback 1-604-483-1605
• • • • •
2,200 sf 5 bdrm multi level home Year round creek and duck pond 2 large dog runs with shelters Many species of trees and fauna $329,000 Larry Laing 250-513-2733 larry@landquest.com
• Beautiful 7,000 sf southwest style home • 300m waterfront on McLeod Lake • Zone for fishing/hunting resorts or guest ranch • Hayland, water right – equestrian land • $1,099,000 Sam Hodson 604-694-7623 sam@landquest.com
• • • • • •
Sam Hodson 604-694-7623 sam@landquest.com
Located only 20 mins east of Osoyoos 4 lots between 77 and 22 acres in size Mostly outside the ALR Awesome views, privacy and land Perfect for farming or recreational retreat. Pricing from $131,400 Sam Hodson 604-694-7623 sam@landquest.com
A17
WESTERN INVESTOR AUGUST 2012 www.westerninvestor.com
RECREATION FEATURE Lakefront prices nudge $500,000 as demand surges in expanding economy
Saskatchewan catches cottage fever
found that a three-bedroom waterfront cottage at Sylvan Lake now averages $750,000, compared with $1.1 million three years ago. Mountain-resort condominiums at Canmore have also seen prices fall, but strong demand this year may drive prices higher than the current average of $195,000, Re/Max suggests.
wI sTAFF WESTERn InvESToR
S
askatchewan’s lake country, such as the Qu’Appelle and Last Mountain Lake region, have long been known as having much less-expensive lakefront than neighbouring Alberta or B.C., but a surging provincial economy has suddenly put cottages in high demand and prices in hyper-drive. The Saskatchewan experience is emblematic of the national experience this year: an upturn in the recreational market that appears to be gaining momentum.
Photo: Li Read, Sea to Sky Properties
The spring Re/Max Recreational Property Report says that cottage sales at lakes close to Regina are up 10 per cent this year and prices “are hovering at $400,000 to $500,000” for three-bedroom, winterized lakefront cottages. The demand is driven mostly by young families from Regina, which is pegged as having the strongest economic growth of all Canadian cities this year. These buyers are snapping up cottages “back from the lake” in the $250,000 range, or rougher cabins further from the city for around $40,000. A few years ago that would have bought a nice house in the capital city. In Manitoba – which has at least 1,000 lakes – popular Lake Winnipeg is finally recovering from severe flooding last year, with sales up sharply this spring and prices in the $250,000 range for a nice lakefront cottage. Inventory is vast across Manitoba, helped along by Americans unloading their recreational property, Re/Max reports. Re/Max found that the changing mix of
B.C. prices down 30 per cent
Cottages in western Canada are in higher demand as a stronger economy increases discretionary spending, but prices in Alberta and B.C. – such as in the Gulf Islands, shown here – are lower now than they were three years ago.
purchasers has also had an undeniable impact on the current cottage sales momentum, particularly in Western Canada. Activity among the baby boomer demographic over 60 has softened, compared with years past. Enticing prices in the southern U.S. have played a considerable role in rerouting purchases, but some retirees are returning to their own backyards as prices north of the border have edged downward. Younger families and first-time buyers have stepped in to fill the void in most markets. In all, the study found average cottage prices down from a year earlier in nearly half the markets studied and up in only 19 per cent, with the rest remaining at 2011 levels. “While buyers are still cautious, they’re
motivated,” said Elton Ash, regional executive vice-president of Re/Max of Western Canada. “Current market conditions have placed them firmly in the driver’s seat. Activity has also been fuelled by pent-up demand that’s been building since 2008, when many began waiting it out on the sidelines. opportunity does exist. Canadians love a good deal, and there’s no question that there are still some to be had in recreational property markets across the country.” Finding a bargain cottage in Alberta or B.C. remains tough, relatively speaking. Prices may be flat-lining from a year ago and are lower now than in 2009, but remain the highest in Canada. For example, Re/Max
In B.C., lakefront and oceanfront cottages have skidded to near-decade lows according to local realtors from the Gulf Islands to the okanagan. Re/Max’s survey found that the average lakefront cottage in the north okanagan is now priced at around $900,000, down from $1.2 million in 2009 and off about 10 per cent from a year ago. In the Gulf Islands, which now has a large inventory of waterfront homes for sale, the average cottage price has dived from nearly $900,000 in the heady days of 2008 to less than $600,000 today. Western Investor, in fact, named Saltspring Island among the top market for bargain waterfront in B.C. in our June 2012 issue. At Ucluelet on the western edge of Canada, some buyers are finding condominiums for $92,000 and oceanfront cottages for less than $400,000. According to Ash, buyers fall firmly into two camps – those willing to compromise, buying back-row properties off the water and those who are steadfast in their search for the ideal location. “Deals are coming together, and the start to the season has been encouraging,” said one Re/Max contact. “We’ve had false starts in the past, but this has the hallmarks of a market with momentum.”u
Recreational Real Estate LIFESTYLE PROPERTIES
A18 Recreational Real Estate LIFESTYLE PROPERTIES MONTANA – “Big Sky Country” Off
0
• Incredible location just minutes from Hamilton, Montana • Four bedrooms - 3 baths - master suite w/doors that open to mountain views. • Formal dining + open kitchen area both lead to great outdoor entertaining, professional landscaping w/ seasonal irrigation stream. • Detached 3 car garage w/1bed & bath quest quarters over • Gated for security & privacy – 3 acres – several outbuildings
900,00
t $1, ered a
Cornerstone
R E A L T Y BETSY KRATOFIL • 1-406-360-2100 • Betsyk2100.com
www.westerninvestor.com AUGUST 2012 WESTERN INVESTORW
LAND FOR SALE - Nanaimo, BC BOAT HARBOUR DEVELOPMENT LANDS Near Yellow Point, just south of Nanaimo, this 15+ acre property offers 3,000 feet of waterfront on Stuart Channel overlooking the Gulf Islands. Immediate potential to be subdivided into 6 waterfront lots. Offers excellent accessibility and low bank waterfront, along with the possibility for long-term moorage.
Mark Lester & Alan Johnson T: 604.632.3345 / 604.632.3346 SpecializedAssets.com
T
his 299 acre estate with an elegant 8300 sq ft 6 bedroom home is located alongside the Quesnel river. This is a high-end home well suited to entertain guests or a possible exclusive Bed and Breakfast operation. 20 minutes from Quesnel. Over 220 acres of the property is fertile fields and pasture. $1,399,000
Lakefront Vacation Homes from $324,900
www.ranchesonly.com
Bob Granholm
RE/MAX CENTRE CITY
250-249-0004 250-562-3600 bkgranholm@xplornet.com
Barriere,BC - The Ultimate Property Incredible 156 acre property minutes from Adams Lake & Sunpeaks • 2900 sq ft rancher, 4 bed/3 bath open concept home w/every door leading to 3000 sq ft of outdoor entertaining with 18x33’ pool, professionally landscaped, year round creek + more! Huge price reduction to
$799,000!
TANYA COLEMAN • 250-863-3722
w w w. t a n y a c o l e m a n . c o m
• Detached 6 vehicle shop w/in-floor heat, beautiful barn, hay, miles of trails to explore! Century 21 Assurance Realty Ltd.
RYDER LAKE: SHAUGHNESSY OF THE FRASER VALLEY! • Custom Built Victorian Home (1996) on 13 acres • Includes 3 acres of private Lake: 900’ frontage • Home: 4500 sq ft; 3 Stories + Full Basement • Vintage flooring, lighting, doors, etc. • Main Floor Living; 2nd Floor 5 bedrooms • Full, walk-up Attic + Full Basement • 1100 sq ft Cedar Cabin, Double garage • 15’ x 20’ shop with full mezzanine • Mix of pasture and forested acreage • More photos @ www.ianhornby.ca Ian Hornby: cell: 604-799-1955 e-mail: ian@ianhornby.ca web site: www.ianhornby.ca
Enjoy …
1-800-661-6988
The
Maples on
24 new vacaƟon homes One bedroom plus den or Two bedroom Open concept design Stainless Steel appliances Hardwood and Ɵle oors Maple Cabinets
Sproat Lake
www.maplesresort.ca
sales@maplesresort.ca
9624 Lakeshore Drive, Port Alberni, BC
250.218.8266
SubScribe
OVer $2.5 biLLiON WOrTH OF iNVeSTMeNT OPPOrTuNiTieS eVerY MONTH first class delivery ❏ One Year ........ $42 ❏ Two years ....... $75 ❏ Three years .. $105
HOMELIFE GLENAYRE REALTY CHILLIWACK
The Maples
Sproat Lake recreaƟon 5 acres of common property 2100 sq. Ō. dock Your own boat slip Private beach Spacious units Large decks
Bill my: ❏ Visa ❏ American Express City ❏ MasterCard ❏ Cheque enclosed Phone
Name Title Company Address Prov
Postal code
Fax
Expiry
Signature
GST Registration No. 10565567 GST Included
Credit Card No.
FAX BACK TO 604-669-2154 OR CALL 1-800-661-6988
www.westerninvestor.com
$42 could make you millions!
Lower Mainland A19
WESTERN INVESTOR AUGUST 2012 www.westerninvestor.com
COMMERCIAL
•
FRANCHISE
•
BUSINESS
DEVELOPMENT
COMMERCIAL BUILDING FOR SALE $1.198M
NORTHERN, BC HOTEL FOR SALE $3.98M
CHILLIWACK AVIATION PARK UNITS FOR SALE/RENT
• Busy Langley Downtown-C1 Zoned • 2 levels with multiple units and tenants • Great Street Front Exposure. High Revenue • Perfect for Professional Services, Realty, • Lawyer’s offices, Doctors, Education.. • Upper level available for Lease Option as well
• Large-Motel with Property • 72 Rooms, High Exposure, Prime Loc. • Additional Lots avail, in price • Well Recognized brand • Full service large Restaurant • High profit, Call for Details.
APPROVED CARE HOME/ MULTI FAMILY SITE $899,000
GAS STATION WITH PROPERTY ESSO VANCOUVER ISLAND $1.68M • Recent Full tank and pump update. • Large location with 3 bedroom unit above • Huge Sales, OVER $200,000 Current Take Home • Full Kitchen with vent ready for franchise or Indep. Option • High Traffic, Great Year Round Sales, Call for details.
RESTAURANT
•
•
• Zoning Approved Central Nanaimo Location • 26-30 Self Contained Units-Preliminary Plans Available • Great Holding Revenue- Package Rarely Available • Plans and more details Available. Multiple commercial options available. VISIT www.RAjThINd.COm fOR mORE INfO
FRANCHISE
•
BUSINESS
PIZZA FRANCHISE
AWARD WINNING BURGER FRANCHISE
• PANAGO PIZZA .................................$389,000 • DOMINO’S PIZZA ...............................$389,00 • FRESH SLICE ...................... Various Locations
• GRANDVILLE BROADWAY ........................ $269,000 • ABERDEEN MALL ......................................$239,000
RESTAURANTS • LARGE KINGSWAY SITE – Great Lease.......$369,000 • SUTRA RESTAURANT – Downtown Van........$289,000 • SAFFRON – High Profit Indian Concept...........$268,000 • TAF’S LOUNGE – Granville & Robson........ $280,000 • REST. W/PUB – 2 locations - Best Western...$369,000
ADDITIONAL OPTIONS
• MEMPHIS BLUES BBQ HOUSE ....... $459,000 • EXPRESS NEWS & SMOKES, Multiple Locations • ABSOLUTE MAIDS...............Regions Available
Raj Thind
PERSONAL REAL ESTATE CORPORTATION
778-554-(sold) 7653 rthind@sutton.com
www.rajthind.com
West Coast
FOR INFORMATION CALL: 604-793-5938
marketing your franchise? Call the
1-800-661-6988 • (604) 669-8500 • westerninvestor.com
HOMELIFE
COMMERCIAL DIVISION LIQUor StorES, PUbS, HotELS/MotELS nanaIMo PUb & LIQUor StorE 2½ acres. Land & buildings. asset sale. includes 2 suites. brInG oFFErS!! caMPbELL rIVEr WatErFront PUb & LIQUor StorE In bUSy SHoPPInG cEntrE. rEDUcED to $1,450,000 For SHarES. QUIck PoSSESIon. 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 PoWDEr coatInG bUSInESS Fully operational. in South burnaby, ready for turnkey operator. Equipment cost exceeds asking price. try yoUr oFFErS! nanaIMo 15 + Lot PotEntIaL SUbDIVISIon 4 .447 aCrES $1,495,00
Liquor StorES - PubS - HotELS - rEStaurantS If we don’t have It lIsted we wIll fInd It for you!
barry bock / Don kaytor Homelife BencHmark TiTus realTy
604-575-5262
604-599-9287
Fax (604) 575-2214
Email: barry_bock@telus.net
www.barrybock.com
5 Gas statioNs witH laND & bUilDiNGs fraser valley, over ½ acre land, 4500 sq.ft. building, 2 road frontage, fiber glass tanks, 4 dispensers, lots of parking, good gross and net income. Price $2.9 Mil 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
Edson, AB – 148 sites – 21 ac ............. 10,700,000 Edson, AB – 93 pads – 15 ac ................ 7,300,000 Golden, BC – 101 pads, 13 acres ........ 5,900,000 North Battleford, SK – 60 pads, 10.9 ac ..2,700,000 Invermere, BC – 31.48 acres, MHP site.. 1,900,000 Langenburg, SK – 60 pads, 14 acres ......... 927,000 Houston, BC – 20 pads, 33 RVs 24 acres .. 895,000 Houston, BC – MH & RV Park, 40 ac+/- .... 299,000
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 $2.99 Mil Gas statioN with land and building, over 3 million liters gas and over $1.5 million c-store sales. Priced at $2.4 Mil UPPer fraser valley, over 8 acres land, gas station, land and building, c-store, house restaurant, all in one price at $1.1 Mil iNvestMeNt ProPerty iN cariboo Land & Building leased for $4000/mo. $385,000 Motel 16 Units, Restaurant & Pub. Over 4 acres commercial land. Lake front on major hwy in Cariboo area. $450,000 for More Details call or visit My website:
PAMMI MANDAIR Cell: 604-825-8121 OffiCe: 604-859-3141
pammimandair@gmail.com www.pammimandair.ca
glenayre realty
COMMERCIAL DIVISION w w w. h o m e l i f e . c o m
604-302-3771 or TF: 1-888-251-2822 Fax: 1-888-804-1394 Email: hjesse@mobileparks.com
Homelife Glenayre Realty www.mobileparks.com
Attention Agents: to advertise
here
call Gary Takahashi toll-free: 1-800-661-6988 direct: (604) 608-5111 gtakahashi@biv.com
A20 Lower Mainland/Sea to Sky/Sunshine Coast ML#V4021517 “The Dock� Sechelt Now $1,190,000
Main street, downtown location with excellent exposure in Sechelt. 2 level building with retail, store, offices and zoned for residential above. High traffic area with lots of parking. 10 tenancies in place, many long term and great cap rate. Call Terry for more info.
ML#V4024655 Main St, Sechelt
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
Situated on prime commercial property in downtown Sechelt, the Cozy Court Motel is enjoying a renaissance. The current owner has invested heavily and has turned the operation into a financial success story. Invest and run this turn-key operation while you long term plan for the future. Excellent family business opportunity.
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.
T E R RY & PA M B RACK E T T 1-800-895-4313
SQUAMISH INVESTMENTS
SUNSHINE COAST Established Motel For Sale
TWO COMMERCIAL BUILDINGS SIDE X SIDE
GORD CLAYTON 604-740-6302 Sechelt, BC
OCEANVIEW REALTY
1375-6 Alpha Lake Road Whistler, B.C. This “Monster Garageâ€? with a 12â€? wide roll up door as well as a pedestrian door is for sale in Function Junction. • Zoned IL@ - light industrial • Has mezzanine • 3 pc handicap washroom • oil and water separator with sloped trench drain the full width of the shop • washer, dryer and fridge • internet & cable • built in air compressor comes with all lines and two hose reels. $429,000
APARTMENT BLOCK
• York Ave. 1 block to beach • Prime Kits location & views • Lot: 50’ x 120’, RM-4, Parking • Good suite mix • Great income property orhold for future development
COMMERCIAL REAL ESTATE, FRANCHISES & BUSINESS OPPORTUNITIES IN WESTERN CANADA
For more commercial listings and information on the commercial market in Whistler visit:
For advertising information call 604-669-8500 or 1-800-661-6988 toll free anywhere in Canada or the USA.
www.whistlerrealtor.co or www.allanjenner.com
Do you have a VOJRVF QSPQFSUZ Advertise your listings in our special feature:
-JGFTUZMF
1SPQFSUJFT
Reach potential buyers with money to spend. Western Investor readers have higher than average household income and a real interest in real estate.
Recreational Real Estate ADVERTISING FEATURE: ‡ /LPLWHG VSDFHV ‡ FRORXU DGV ‡ 6SHFLDO UDWHV Recreational Real Estate LIFESTYLE PROPERTIES
www.westerninvestor.com WESTERN INVESTOR
RECREATION FEATURE Wealthy investors corral exclusive acreages at Ranches at Elk Park in Kootenays
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1
erhaps the strongest evidence of a recovery in the Kootenay recreational market is the sale of ranchsized acreages at the exclusive Ranches at Elk Park just outside of Radium Hot Springs. Prices range to nearly $3 million – and that is just for the land. “We have sold two lots and we have holds on two others,� said Rudy Nielsen, founder and president of Niho Land & Cattle Company, which is marketing the ranches through its subsidiary LandQuest Realty. Prices roam from $9,000 per acre for small parcels to around $2,100 per acre for 400-acre and larger ranches. The 3,500 acres at Elk Park, a gated ranch community and perhaps the only one in B.C., are divided into 16 ranches, from 36 acres to 480 acres. The two lots that sold – one to a retired Edmonton oil executive – are both in the 100acre size, as are the two with pending sales. The Ranches at Elk Park are what Nielsen calls a “rare collection� of recreational private estate properties. The ranches are framed by Kootenay National Park and the Columbia Valley and prices range from $390,000 to $2.95 million for 200 plus acres with a lake. “This is a very exclusive opportunity,� said Nielsen, 70, B.C.’s most prolific land dealer. In the last 40 years, he’s put together thousands of successful real estate deals, involving tens of thousands of acres, from small plots to ocean islands, to entire town sites and huge farms
Photo: LandQuest
12 Suite
RE/MAX Sea to Sky Real Estate Squamish
YOUR AD IS MISSING...
Commercial Unit For Sale In Whistler’s Industrial Park.
Alan Jenner 604-905-9589 allanjenner@wrec.com
Ranches at Elk Park: 200 acres with a private lake listed for $2.95 million.
and ranches. “There’s nothing else like this in British Columbia. South of the border, in places like Montana, similar ranch-style communities are far less pristine and their prices are much steeper.� Calgary-based Schickedanz West, the owner of the Ranches project, is adding a comprehensive amenity centre outside the access point with fitness facilities and a private owners’ lounge, Nielsen said. He credited owner Fred Schickedanz for having the vision and patience to create “one of the best recreational ranch developments I have seen in a long time.� Nielsen said buyers are a mix of permanent residents and seasonal owners who plan to
ARIZONA
Investment Property For Sale ACQUIRE REALTY
623-853-7765 Toll &REE s WWW !CQUIRE!: COM
eventually retire to the property. They share an common appreciation of nature, outdoor adventure, horse-back riding, hobby ranching and getting away from it all, “without going too far or spending too much.� Some of the ranches are lakefront, others have valley views and all have the security and privacy only big money can buy: there is only one access road and it is protected by a controlled locked main gate.
"MCFSUBOT
The success of Elk Park is likely cheered by other land and recreational vendors in the Kootenays, especially since it heralds the return of Alberta investors. In 2007, Albertans were big in the Kootenay
area, grabbing more than 2,000 residential properties and more than 600 plots of vacant land, with the Columbia Valley figuring large. With the BC/Alberta border so close to Calgary, the Kootenays were a natural lure. Then the oilfueled global economy stalled and Albertans went quiet; in 2010 Albertan purchases were off by more than 70 percent or 756 sales of residential properties. However, with the global economy swinging back and oil now north of US$100 a barrel Nielsen expects a resurgence of Alberta buyers into the Kootenays. “Our sales team says the number and quality of calls coming out of Alberta has increased substantially, compared to anytime from mid2008 to late 2010, “ Nielsen said. A recent survey by the Royal Bank forecasts Alberta will lead the entire country in economic growth this year and next, and likely into the next decade. One telling stat: the average weekly wage in Alberta is $1,036 a week, almost one-third higher than the rest of Canada. And Albertans traditionally look to B.C. for recreational property. “You can golf, ski, and catch a large rainbow trout, all in one day in the Kootenays,� Nielsen said. He notes that the ski hills of Panorama Ridge near Invermere and the amenities of Fairmont Hot Springs are close by Elk Park, with almost two-dozen golf courses within a 30-minute drive. Nielsen said The Ranches will attract a select type of buyer. “The price range is for individuals with a pioneering spirit ready to embrace a rare opportunity to own their own private ranch right at the foot of the Rocky Mountains.�X
www.westerninvestor.com WESTERN INVESTOR
Far from the Madding Crowd
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ANNABEL YOUNG
Cell: 604-961-7541
FOR SALE AUTOMOTIVE PARTS STORE KITIMAT, B.C.
Why Harrison?
$1,888,000
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Sold Price: $61,500 Rent: $925 City: Avondale 9EAR "UILT Square Feet: 1,197
Sold Price: $62,000 Rent: $895 City: Avondale 9EAR "UILT Square Feet: 1,255
Sold Price: $64,000 Rent: $850 City: El Mirage 9EAR "UILT Square Feet: 1,495
s 3TAMPED CONCRETE BOAT LAUNCH s FEET PRIVATE BOAT DOCK s 26 PARKING s #OVERED HOT TUB DECK
Virtual tour at www.6565-rockwell.ca
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REALTY (02) LTD.
Nestled against Southwestern British Columbia’s magniďŹ cent mountains and the sandy beaches of Harrison Lake, Harrison Village is your local destination ďŹ lled with a rich history and natural wonders, including our world famous BC Hot Springs. Known for its leisurely days and friendly ways, offering nature, art, entertainment shopping and food. s BEDROOMS BATHROOMS s SQ FT OF LIVING SPACE s SQ FT GUEST SUITE s 3HOWPIECE CAR GARAGE s FEET OF WATERFRONT
Gerri SaundersĂŠJĂŠ(250) 632-2107ĂŠÂœĂ€ĂŠ(250) 632-6638
Contact us to start your portfolio today.
Sold Price: $51,900 Rent: $850 City: Tolleson 9EAR "UILT Square Feet: 1,423
OfďŹ ce: 604-888-0786 Email: annabelyoung@shaw.ca
Overwhelming Views
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ARMLS Residential All Areas and Types
- Exquisite property features the best of the West Coast - Water Front -1.84 acres of high water front - Custom designed house infused with southern light - Spectacular views of the Gulf Islands - Live year round or have a weekend retreat and haven - MLSÂŽ F1118274 $1,075,000
Approximately 80 minutes northeast of Winnipeg on the Bird River. This classic lodge is world famous for trophy bear and deer hunting. Located 1/4 mile from a Department of Transportation certified airport runway. Suitable for church camp, corporate retreat, training centre or private retreat. Commercial kitchen. Games room, sauna & conference room. Thirteen bedrooms, sleeps 27 plus master bedroom & ensuite. Approx. 6900 sq. ft. on +/-2 acres. Asking $1.85M.
Here are twelve of the homes we’ve sold over the past few months which are all within a 30 minute drive from downtown Phoenix. We even offer property management for our clients.
Acquire Realty is family owned and operated with over 30 years of Real Estate experience. Contact us for Foreclosure or Short Sale Listings in Phoenix, Scottsdale, Fountain Hills, Surprise, 'OODYEAR AND 3URROUNDING !REAS 7E WOULD LOVE TO HELP YOU ďŹ nd your vacation home or investment property.
Phoenix Area
Recreational Real Estate LIFESTYLE PROPERTIES
FOR SALE - On Bird River, MB
INFO !CQUIRE!: COM s 7EST -C$OWELL 2D "LDG # Ste. 305 Avondale, AZ 85323
Info pkg. Call: HANS OR JOHN GUST 604-263-8800 or hansgust@telus.net
Strata Office Space Dwtn 1,714 sf $325k Strata Office 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 1 acre Light Industrial lot $699k
Darren McCartney 604-892-4875 darren.mc@shaw.ca
Information package available.
terry@thebrackettgroup.com SECHELT Remax Oceanview Realty
WESTERN INVESTOR
Sold Price: $64,000 Rent: $785 #ITY "UCKEYE 9EAR "UILT Square Feet: 1,574
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Avondale - Crystal Gardens Lake Community Newly remodeled home, 1870 square feet, 3 bedrooms plus den, 2 baths, prime location near shopping and freeway access, would make for a great vacation home or could rent for $1000-$1075 as an investment property.
For Sale: $112,500
Sold Price: $64,125 Rent: $850 City: Phoenix 9EAR "UILT Square Feet: 1,435
Sold Price: $69,000 Rent: $825 City: Phoenix 9EAR "UILT Square Feet: 1,343
Sold Price: $87,000 Rent: $995 City: Laveen 9EAR "UILT Square Feet: 1,763
Sold Price: $105,000 Rent: $1,150 City: Goodyear 9EAR "UILT Square Feet: 2,277
604-669-8500 1-800-661-6988 advertise@westerninvestor.com
6 Njovuft up Upxo Dfousf
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A21
WESTERN INVESTOR AUGUST 2012 www.westerninvestor.com
FEATURE Deep pockets and sharp elbows needed to muscle into China’s $2.3 trillion retail sector
FRAnk o’bRiEn WESTErN INVESTOr
B
C entrepreneurs who want a piece of China’s multi-trillion-dollar retail scene should come in big, at multi-levels, and be backed with brandname cache to have a shot at success. The potential is enormous but so are the risks, says Hong Kong-born Anthea Wong, a China retail analyst with Pricewaterhouse Coopers.
Even such a strategy is no guarantee that a North American retailer would survive on the competitive streets of such cities as Beijing or Shanghai. Witness Home Depot, which pulled out of the Chinese capital last year, shutting six stores after a losing a two-front battle against lower-priced competition and convincing middle-class Beijing residents to do home repairs themselves when labourers can be hired for less than $2 a day. Best Buy shut its last store in China a year ago, and has relaunched under the Five Star banner with a Chinese joint venture. Even Mattel closed its Barbie store in Shanghai, unable to compete against much cheaper but precise knock-offs. Still, Swedish furniture giant Ikea is thriving, Apple outlets are packed, the Gap chain is expanding and, when Wong went shopping for a $500 Hermes scarf in Shanghai (where the high-brand retailer has a 40,000-squarefoot outlet), the entire stock was sold out. Levis found that sales increased in Beijing when it doubled the price of its famous blue jeans to $200 a pair.
Luxury brands are huge in China, Wong said. “Louis Vuitton, Chanel and Gucci have a strong hold,” she told a recent Vancouver seminar on China retail, also citing Hugo Boss and Ermenegildo Zegna as enjoying “tremendous success” in a male-dominated and growing middle- and upper-class consumer market. China’s middle-class – defined by those earning the Canadian equivalent of $10,000 to $80,000 per year – now totals about 104 million consumers, but there are at least a million Chinese with personal wealth of more than $1.5 million and 60,000 individuals worth in excess of $20 million. “China is on its way to becoming the world’s biggest market for luxury goods,” Wong said. On the other hand, more than 5 per cent of the country’s population, or 650 million people, are listed at a poverty level, equal to earning $1.25 per day. Wong, who couldn’t name a Canadian brand name other than Lululemon and “maple syrup,” said B.C. retailers could start their Chinese foray with a multi-level marketing approach. “Chinese online retail transactions have increased at a staggering rate,” she said, adding that 62 per cent of consumers now do at least some shopping online – from near zero six years ago – compared with 66 per cent in Canada and 47 per cent in the U.S. Opportunities also exist in the franchise sector, which is worth about $50 billion in annual sales. There are now more than 4,500 franchise businesses with 400,000 stores in China. Vancouver-based White Spot, which opened in Hong Kong nine years ago, now
Photo: Simon Fraser University
Retailing in China
nanjing Road, Shanghai: retail space rents are steep, but shoppers are plentiful.
has three locations in Asia’s Retail comparison: Shanghai and biggest country. Wong cautioned, howev- Vancouver er, that Chinese franchisees Shanghai Vancouver are often “fiercely protectPopulation 19.3 million 620,000 ed” by local governments, Retail sales (2011) $107 billion $22 billion which could make it hard Annual sales increase* 14 per cent 1.3 per cent for a foreign franchisor. Unemployment 4.1 per cent 7.2 per cent It takes deep pockets Prime retail lease rate** $300-$347 $150-$200 to lease retail space in the Sources: Cushman Wakefield/Changjiang Securities Co./Central One Credit Union major cities that represent *2010-11 **Annual, per square foot, triple net 86 per cent of China’s $2.3 trillion consumer market. In Shanghai, cities, where development of high-speed rail annual lease rates for ground-floor space on transit and highways has opened markets. East Nanjing road, a premium shopping disAside from luxury items, the fastest-growtrict, run to $347 per square foot, while even ing retail sectors are fashion, furniture and lower-tiered streets can top $150 per square food and beverages. The latter category could foot, comparable to Vancouver’s robson hold potential for Canadians. According to Street, according to a report from Cushman PricewaterhouseCoopers, China is on a fast Wakefield’s Shanghai office. Wong recom- track to become the world’s biggest market mended foreign retailers look at second-tier for beer.u
Lower Mainland Ray Veenbaas
Call Ray or Richard for all of your Real Estate Needs!
Sidebar: LITTLE OAK REALTY email us at richardtherealtor@hotmail.com 604 309 0257 Retail comparison: Shanghai, China and Vancouver, B.C. "All offices independently owned and operated"
1-800-668-8661
Richard Riemersma 604 309 8541
RESIDENTIAL, COMMERCIAL, INVESTMENT & AGRICULTURE
Shanghai Vancouver Population 19.3 million 620,000 Retail sales 2011$107 billion $22 billion Annual sales increase* 14 per (4 cent per cent New westmiNster Office strata 1.3 UNits) Unemployment 4.1 per cent 7.2 per cent Shows netrate** annual income. Asking $659,900 Prime$35,000 retail lease $300-$347 $150-$200
INVESTMENT REVENUE
FEATURED PROPERTY
BUSINESS OPPORTUNITIES
BC’S BEST HOTEL DEAL!!!
steakhOUse aNd iNdiaN BUffet - Great location & Great lease. Reduced to $199,000
33 ROOMS WITH RESTAURANT & PUB.
fraNchise restaUraNt on major highway in a flagged motel. Comes with a bonus 12,000 sq ft banquet hall. Asking: $389,000
Sources: Cushman Wakefield /Changjiang Securities Co/ Central One Credit Union, B.C. *2010 to 2011 ** Annual, per square foot, triple net,
staNd alONe restaUraNt BUildiNg with Profitable Asian food tenant Asking: $799,000
aBBOtsfOrd Office / retail Office miX - Shows $52,000 net annual income. Asking $849,000
Little Oak Realty
(Only 3 hours from Vancouver)
$699,600
affOrdaBle mUlti-teNaNt Office Building with stable revenue. Asking: $988,000
Easy to operate, Seller Motivated
mUlti-teNaNt iNdUstrial BUildiNg - in excellent area. Easy to rent small units, never vacant. Asking: $2,425,000
98 UNit mUlti-family site Close to shopping centre, hospital, recreation and lakeside walking trails (Plans available) Asking $2,900,000
DEVELOPMENT SITE
TF 1-800-668-8661
thai fOOd restaUraNt BUsiNess Most popular in town. Asking: $188,888
maNUfactUriNg BUsiNess gOiNg cONcerN laNd, BUildiNg & BUsiNess seller may maNage fOr New OwNer, Or BUy OUtright aNd take tO NeXt level.
askiNg $4,000,000
#9–2630 Bourquin W., Abbotsford
"EACH OFFICE INDEPENDENTLY OWNED & OPERATED"
A22 Vancouver Island/Business Opportunities PRIVATE OCEANFRONT RETREAT - $1,490,000
-
FOR LEASE:
Oceanfront cottages & orchard campground 2.25 acres with 310 ft beachfront Close to Nanaimo airport, ferries & amenities Zoned “Tourist Recreational”
Jim Ballard
Coast Realty Group 1-888-716-7001 www.jimballardhomes.ca
For more information contact: DIANA 604-221-6247
84 Unit Hotel
“Across from the beach in sunny Parksville, BC” - 2.6 acres highway frontage - 100 person conference room, swimming pool, fitness center, liquor license, elevator - 10% cap rate
Judy Gray, CCIM 1.800.600.1718
Mid-island Realty
Suite 103–1801 Bay St, PO Box 195, Ucluelet. BC. V0R 3A0
Peninsula Motor inn New price $995,000
• 19 unit motel & 140 seat restaurant • Separate titles & separate companies • Can be sold separately, also sub-dividable • Plenty of room for expansion
- Absentee owner, tremendous growth opportunity for “hands on ownership”
Visit www.parksvilletravelodge.com for a virtual tour Appraised at $4,870,000
Just reduced to $4,380,000 share sale
Brian Percival 250-951-6372
www.judygray.com
b.percival@shaw.ca
iNVesTMeNT oPPorTUNiTies caMPbell riVer, bc
waNTeD wiNery iN alberTa or briTish colUMbia • 3.14 acres • 397 feet of Water Front • Zoned Commercial Four (C-4) • views of Georgia Straight
MiNiMUM 50 acres of laND.
$3.5 M $2.2 M
Jerry raczkowski 780-932-2121 www.AlbertaInvestor.com
e-mail: jrcoach@telus.net
RE/MAX Real Estate Commercial Division
TIMBERLANE BEACH RESORT Beautiful Saratoga Beach
PROPERTY FOR SALE
Walk-on waterfront, 2 plus acre site on sandy beach, stunning views. 10 fully self contained units including 6 studio, 3 cabins, and owner/office home. Asking $ 2.3 Million MLS® 328399
Port Renfrew: “The Tofino of Tomorrow” • 320 acres with stunning views • Property is developable into 64 lots • Vendor participation will be considered • Excellent long-term investment Phone:
306-227-7760 or 250-749-3232 C O M O X VA L L E Y
www.woodrowgroup.com
$2,595,000
Light Industrial Land and Buildings - Chemainus 3.83 acres with 5 buildings on site. 253 Acre Development Property - Sproat Lake Area
$1,995,000 $1,700,000 $1,495,000
Commercial Land and Building - Downtown Parksville 0.85 acre with 3,870 sq ft building on Island Highway. Strata Commercial Unit - Central Nanaimo 4,417 sq ft office with 12 offices, boardroom, reception and lunchroom. New Light Industrial Building - Comox 5,200 sq ft on Shamrock Place. Partially Constructed Commercial Development - Nanaimo Ample parking and high exposure, zoned COR-2. Commercial Re-Development Property - Downtown Nanaimo 2 legal lots on Victoria Crescent with 4,900 sq ft building. 3.46 Acre Light Industrial Property - South Nanaimo
$ 849,000 $ 855,000 $ 775,000 $ 655,000 $ 549,000 $ 475,000 $ 359,000
1.2 Acre Residential Development Site - South Nanaimo Commercial Land and Building Zoned DT-2 - Nanaimo 1,395 sq ft office building in Old City Quarter. Residential Development Property - Nanaimo 4.88 acre property near the Nanaimo Parkway. Commercial Land and Building Zoned I1 - Nanaimo 7,560 sq ft lot with 1,350 sq ft building plus room for expansion. Commercial Property Zoned COR-3 - Nanaimo 2 lots on Kerrisdale Road totaling 19,600 sq ft. Commercial Property Zoned COR-3 - Nanaimo 9,800 sq ft lot with 1,037 sq ft office off Bowen Road. Hangar Building and Office - Campbell River Regional Airport
$ 319,000 $ 319,000 $ 299,000 $ 260,000 $ 199,000 $ 129,000
Commercial Development Lot Zoned DT-8 - Nanaimo Vacant 0.29 acre property. Light Industrial Strata Unit - Central Nanaimo Large warehouse with appointed office space.
Call for Details
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 9% 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 Offered for sale at $1,900,000
Green Rock Industrial Park 24 Light Industrial Lots in prime Nanaimo Location Excellent highway access and “Green” construction.
OCEANVIEW 8896 Clarkson Drive, Black Creek B.C.
For Sale
2.05 Acre Prime Development Site - North Nanaimo On Old Island Highway adjacent to Long Lake.
Heavy Industrial Property Located at Duke Point in Nanaimo this 5 acre site is paved and fenced and includes an approximately 18,000 sq ft building. Saratoga Beach Golf Course - Black Creek 37.47 acre redevelopment property with executive style golf course under foreclosure.
COURTENAY, VANCOUVER ISLAND B.C.
Neil WoodroW 250-338-3349 neilwoodrow@shaw.ca
Business Is Better On Vancouver Island
Restaurant
AVAILABLE IMMEDIATELY: - Fully furnished/equipped restaurant/ bistro/cafe - Located on beautiful Mayne Island, BC. - Tastefully decorated with a warm and inviting atmosphere and existing client base. - Located in elegant arts and crafts Fernhill Centre.
AUGUST 2012 WESTERN INVESTOR
Email:
blk752@mail.usask.ca
$2,000,000 $ 1,419,000
9,710 to 59,376 sq ft $199,000 to $834,000
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 JUMPING JIMINY’S PLAYLAND AND CAFÉ—Nanaimo Well known children’s entertainment business
$ 199,000 $ 399,000
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 RETAIL BUSINESS & DEMOLITION CONTRACTOR—Central Vancouver Island $ 775,000 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
$1,500,000
ESTABLISHED EQUIPMENT RENTAL BUSINESS—Port Alberni
$1,900,000
FRANCHISED MOVING AND STORAGE CO.—Central Vancouver Island LIQUOR STORE WITH LAND AND BUILDINGS—Port Alberni With Commercial Tenant
$2,550,000 $2,600,000
Gerry Van Vaals Personal Real Estate Corporation DTZ Barnicke Nanaimo Ltd.
Tel: 1 800 769 5757
gerry.vanvaals@dtzbarnicke.com
www.dtznanaimo.com
A23
WESTERN INVESTOR AUGUST 2012 www.westerninvestor.com
FEATURE Flyovers spot northern potential but only drill results reveal what is hidden beneath
Finding mines
The major hit for VMS is the Reed Copper deposit, now a planned underground mine WESTERN INVESTOR in northern Manitoba that the company is developing with veteran producer HudBay he survey airplane was flying very Minerals Inc. Reed Copper is in the same fast and very high, and that is why mineral belt that runs beneath Flin Flon, the the onboard computers missed a third-largest copper deposit in Canada. FRANK O’BRIEN
T
But when VMS flew over the same area last year using advanced exploration equipment dangling beneath a slow-and-low-flying helicopter, “Boom, all these targets suddenly lit up,” Mark said. The findings could signal a potential giant new nickel deposit and are an indication of why remote technology has sparked a global exploration boom. The new technology is being harnessed to hunt for potential mines across Western Canada and into the Yukon. In 2011, according to the Halifaxbased Metals Economic Group, global mining exploration spending hit an all-time high of $6.1 billion, up 50 per cent from a year earlier. And much of it is due to remote sensing from the air. VMS is using helicopter-borne VTEM (versatile time-domain electromagnetic) technology that can locate minerals deep underground based on their specific magnetic signals.
Roozendaal, president of VMS. “It is all vertical.” Roozendaal said data analyzed from VTEM indicates the mineral deposit is more than 500 metres deep and holds an estimated 2.2 million tonnes of copper ore. Copper is trading at around US$3.67 a pound. “It’s a monster,” Roozendaal said. “If we hadn’t flown a tight grid, basically 100 metres apart, we never would have picked it up.” The ore body itself is covered in about 20 metres of rock, hence the reason it was not discovered when the original Hudson Bay Mining and Smelting company hit the Flin Flon deposit in 1927. “You could walk over this area all day long with a pickaxe and a donkey and never know it was there. It was a completely hidden deposit,” Mark said. Ironically, the potential mine is located just 100 metres from a major highway. Since the discovery in January, the Reed Copper deposit has become the focus of the joint venture with HudBay Minerals. VMS
“If we hadn’t flown a tight grid, basically 100 metres apart, we never would have picked it up”
Photo: VMS Ventures Inc.
potential Greenland “monster” a decade ago, says Rick Mark, CEO and chairman Tiny target of VMS Ventures Inc., a junior mining “The Reed footprint is incredibly small, exploration based in North Vancouver. only about 20 acres,” said geologist John
A mining exploration helicopter working for VMS Ventures dangles a VTEM system that can decipher magnetic signals from minerals deep underground.
owns 30 per cent of the Reed Copper play, and HudBay has pledged funding to production. The HudBay and VMS joint management committee have approved a budget for a 4,000-metre diamond drill program focusing on targets around the Reed Copper deposit and option properties. Drilling started this February and will continue into the summer.
Boots on the ground
And that is when the truth will be revealed, says geologist Murray Allan, a research associate with the University of British Columbia’s mineral deposit research unit (MDRU). Allan is a project manager for the research unit’s two-year Yukon Gold Project that, with some of the world’s largest mining firms, is helping to assess the mineral potential of 100,000 square kilometres in the far north, much with the assistance of airborne
geophysics. Aerial technology – such as VTEM, the similar SkyTEM and LIDA (light detection and ranging) – systems are useful, Allan said, but “it is boots on the ground” and drill results that show what minerals are actually available. Allan explained that the aerial technology can provide excellent early data, but it is how that data is interpreted that decides if drilling should proceed. “Even then it can take years to determine a mine’s viability,” he added. Mark, however, is confident that the Reed Copper deposit will pan out big time both for VMS and its shareholders. “We are monitoring the data very carefully; we have a mine coming on board and we are convinced we can make [Reed Copper] happen very quickly,” he said.u
Vancouver Island OCEANFRONT <> LAKEFRONT <> OCEANVIEW
PeterNash.com
Evening Cove: South exposure gated 5 acs w/low frontage. Great care & expense expended to prepare for building. Permission for moorage w/Dock design. Something special! 1,395,000.
Cowichan Lake: Secluded private island w/custom 1450 sq’ solar powered cottage making use of natural wood finishes. Sited to take advantage of views & sunsets. Open great room/kitchen, 2 bedrms & bathrms, high ceilings, picture windows, large decks, french doors, wood fireplace, treatment plant, Dock w/ Legend boat. 925,500.
Wise I: West Coast solar powered cottage on exclusive Isl. Set in private .42 ac & sited @ waters edge w/low frontage. Dock 3 minutes away. Natural state Isl w/3 parks, path length of isl, community water, 2 docks. Close to Galiano I. 489,500.
Galiano I: West Coast home @ waters edge w/panoramic western views. Set in .82 ac level point of private land w/tidal Dock in Spotlight Cove. 850,000.
Cowichan Bay: Contemporary West Coast home of timeless design! Sited to take advantage of ever changing panoramic marine views over Cowichan Bay. Includes 2nd lot. 1,695,000
Deep Cove: Private 2.3 ac estate w/SW exposure. 6000 sq’ home sited @ waters edge. 2nd home (single/duplex), cottage, greenhouse, swimming pool, all weather Dock. 4,350,000.
PETER NASH
250.384.0566 d / 855.384.NASH t / realestate@peternash.com
www.peternash.com
Macdonald Realty Victoria
A24 Vancouver Island
www.westerninvestor.com AUGUST 2012 WESTERN INVESTOR
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 DUPLEX LOT $129,000 • 4 PLEX LOT $199,000 COUNTRY ESTATES DEVELOPMENT SITE 23 ACRES $459,000 50 ACRES, $995,000 43 ACRES $859,000 Adjoining properties, 1 mile from city limits, Zoned for 5 acre lots 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
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
5 PLEX NANAIMO 5 meters, over $4,500 monthly revenue. Covered parking. Storage lockers. Separate meters. Asking $749,500 JUST LISTED: 2 HOMES W/ ADDITIONAL SUITE + 2 COTTAGES Total of 6 rental units. Located on 2 separate ocean view lots. $579,000 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.
CONDOS & HOMES 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 WATERFRONT CONDO TRADES WELCOME $425,000 With swimming pool and hot tub and boat moorage. 2 bedroom, www.yellowpointmemories.com 2 bathroom in Yellow Point. Seller will finance with low down or take trade! Owner will take a condo in Vancouver in trade.
DALE SHORTT
INCOME PRODUCING + REVENUE PROPERTIES
Bus: (250)
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 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 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.
758-3700 • Toll Free 1-800-665-8313
Ocean Pointe
640 Trans Canada Highway, Ladysmith, B.C. V9G 1A7 • Email: daleshortt@shaw.ca
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Vancouver Island A25
WESTERN INVESTOR AUGUST 2012 www.westerninvestor.com
British Columbia
plans to rent purpose-built rentals in its new tower next to Rogers Arena in Vancouver for from $2.20 to $2.40 per square foot.
NYC condos seen B.C. rental as a better buy vacancy rate eases
I
t is possible to buy an investment condo for less money – and with better returns – in New York City than in Vancouver, according an expat New Yorker now living here. Melissa Orozco, owner of Yulu Communications, and her partner had considered buying an investment condo in Vancouver’s West End but are now looking instead at central Manhattan and Brooklyn. Among the listings that caught her eye: an 800-square-foot co-op apartment in Midtown South Central Manhattan priced at US$305,000. This works out to $394 per square foot. Comparable condo prices in downtown/West End Vancouver average $650 per square foot, according to a recent MLS search. New York has a much stronger rental market than Vancouver, Orozco explained, and apartment rents are much higher. For instance, she currently sublets her 500-square-foot Manhattan apartment for $3,000 per month. With 8.2 million people living in Manhattan, she noted, there is never a lack of tenants. New York co-ops, which make up most of the condo market, can have monthly service fees of from $1,200 to more than $2,000 per month, however. Typical rent for a Manhattan condominium is around $6 per square foot. In Vancouver it is closer to $2.25 per square foot, even for brand-new units downtown. As an example, Aquillini Developments
C
anada Mortgage and Housing Corp.’s (CMHC) spring Rental Market Survey reports the British Columbia average apartment vacancy rate was 3.4 per cent in April, up about 1 per cent from a year earlier. The Kelowna and Abbotsford-Mission census metropolitan areas (CMAs) reported lower apartment vacancy rates this spring compared with a year ago. Victoria was the only CMA to record an increase in the apartment vacancy rate compared with the April 2011 level. In Metro Vancouver, the apartment vacancy rate was statistically unchanged from the April 2011 level. Apartment rents rose slightly in April 2012 compared with a year ago. The average two-bedroom apartment rent was $1,036 per month in April 2012, while the average onebedroom apartment rent was $892 this year, up 2.3 per cent from a year ago.
Richmond draws $4B in projects
T
he City of Richmond has attracted $4 billion worth of planned projects, partly because its community plans are more detailed than other Metro Vancouver cities, according to Brian Jackson, Richmond’s director of development. Jackson said those detailed plans provide more clarity for residents and developers and have helped the city attract
Transit links tied to higher lease rates for offices
T
here is a hefty premium for Metro Vancouver office rents close to Canada Line or Skytrain stations: nearly 23 per cent, according to a study by Jones Lang Lasalle, a financial and professional services firm specializing in real estate. “Class B and C office buildings that are conveniently located within 500 metres of rapid-transit hubs are outperforming Class A buildings located [further away]. Overall Metro Vancouver vacancy rates are almost Proximity to transit can increase office twice as high at buildings further than 500 rents, Metro Vancouver survey finds. metres away from a rapid-transit station, compared to those located closer,” says the company’s semi-annual Vancouver Rapid Transit Office Index survey. The index, which analyses office properties outside the downtown core and within 500 metres of rapid-transit stations in Metro Vancouver, finds that there is an average rental premium of 22.8 per cent for transit-oriented office space in Vancouver, Burnaby and Surrey. Total vacancy levels within the overall rapid transit index (RTI) are at 6.5 per cent, down from 8.9 per cent when the inaugural report was published in 2011. “The trend for choosing proximity to transit over building quality is not abating,” said Norm Taylor, senior vice-president of James Lang Lasalle, adding, “Tenants are choosing location, location, location.” Buildings near Canada Line stations had the lowest vacancy rate at 3.2 per cent, followed by the Skytrain Expo Line at 5.8 per cent and then the Skytrain Millennium Line at 10.7 per cent. The biggest difference was in New Westminster, where office buildings close to Skytrain stations had a 4.2 per cent vacancy, while those further away had a vacancy of 23.4 per cent. Photo: Translink BC
W h aT ’ s h a p p e n i n g i n
proposals for: • 16 hotels with 2,500 hotel rooms; • 12,000 new residential units; • 1.5 million square feet of office space; and • 2.5 million square feet of retail space. “It’s not fair for the community to have plans [that] are vague and do not specify heights and densities and uses,” he said. “[Developers] need that to make financial decisions, but also the community needs that to know what’s going to be around them in the future.”
Richmond’s city centre plan designates where highrises, mid-rises and even future retail streets are slated. The City of Vancouver’s less-detailed plans for neighbourhoods have sparked heated debates over some new high-density projects. Jackson noted that Richmond approved a new city centre plan for development along five villages along the Canada Line and at the Olympic Oval five years ago. He said it provides all of the details needed to buy and develop land in the area.u
vaNcouver islaNd commercial www.nanaimoremaxcommercial.com
1-877-335-4380
Jay cousins realty
FOR SALE • CENTRAL NANAIMO – 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 • MULTIFAMILY DEVELOPMENT SITE - 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. Reduced $299,900 • CENTRAL NANAIMO - Approximately 21 acres of multi-family 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 • COURT ORDERED SALE – Rooming House 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. $291,000
FOR LEASE OR SALE
• NORTH NANAIMO WAREHOUSE – 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. For Sale @ $$2.2 million
FRANK JOHNSON
Jay Cousins jay@jaycousins.com
of Nanaimo
Frank Johnson frank@remaxofnanaimo.com
INVESTMENT OPPORTUNITIES
INVESTMENT OPPORTUNITIES
• TWO COMMERCIAL STRATA UNITS 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 • 5 ACRES INDUSTRIAL ZONED PROPERTY South of Nanaimo, 4,800 Sq. Ft. Steel clad building incl. approx. 400 sq. ft. office. Close to Island Highway, Telus tower on property generates revenue by way of a 30 year lease. Drilled well & septic field yet to be finished $699,000
• DOWNTOWN LADYSMITH LANDMARK INVESTMENT PROPERTY 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, pilates studio. $689,000 • COUNTRY COMMUNITY STORE WITH LAND & BUILDINGS DUNCAN AREA – 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 Portfolio. $998,000 • 110 UNIT MINI STORAGE IN SALTAIR on 3.63 Acres with over 2 acres undeveloped & ready for commercial development. High visibility, 85% capacity year round, outdoor RV & boat storage as well. Great business opportunity. REDUCED $995,000 • PORT ALBERNI MOTEL COMPLEX 14 Room Motel plus 6 Unit RV Park, 2 level Managers residence, units fully updated, outdoor pool, excellent visibility of highway route to West Coast beaches & resorts, consistent 11% CAP rate $1,195,000 • RESORT, MOTEL & CAMPGROUND IN QUALICUM 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% CAP rate on asking price. $3,125,000 • RE-DEVELOPMENT OPPORTUNITY Existing Alzheimers/ dementia care facility w/90 beds plus separate residential home available for conversion to congregate care or rezone to multi-residential etc. 44,255 Sq. Ft. building on 1.87 acres near Nanaimo hospital. Society owner will remain with one year lease at current market rents during planning/feasibility phase of redevelopment. $4,500,000
• ½ AN ACRE OF TERRIFIC EXPOSURE NEAR NANAIMO’S BUSIEST THOROUGHFARE 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 • TOFINO COMMERCIAL/RESIDENTIAL BUILDING Located 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 • PARTLY DEVELOPED PROPERTY LADYSMITH 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 • RARE OCEANFRONT DEVELOPMENT OPPORTUNITY 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
JAY COUSINS
JAY COUSINS
www.nanaimoremaxcommercial.com
1-877-423-0984
INVESTMENT OPPORTUNITIES
• 4-PLEX MULTI-FAMILY PROPERTY IN PARKSVILLE Desirable C3 zoning could allow higher commercial or mixed future uses. Quality tenants in place, exceptional street presence ocean views $569,000 from upper suites
• OLD CITY NANAIMO COMMERCIAL WAREHOUSE/OFFICE COMPLEX 11,497 sq. ft. main level plus 6,600 Sq. Ft. mezzanine, dock & grade level doors, paved & fenced yard, easy access, corner location. Zoning will allow multi-res, retail, restaurant, office, but current configuration favours warehouse & related uses $899,000 • GABRIOLA ISLAND WATERFRONT LODGE Includes a turnkey pub/restaurant in a 1 ½ storey rustic log building. 10,000 Sq. Ft. of rooms & dining/eating area. Large deck takes in the gorgeous views. Over 4.9 acres of undeveloped land available for further expansion. Info available. $1,795,000 • COBBLE HILL STORAGE FACILITY 110 Units with 29 steel containers offering extra rental space all on 2.5 Acre parcel. Additional rental income from residential & commercial tenants. Consistent 95% occupancy. Current Appraisal establishes asking price. REDUCED $2,249,000
BUSINESSES
• Franchise Fitness Business South Nanaimo • Used books / consumer services retail – Nanaimo • Western Wear & Tack Store – Duncan • Successful Pump & Motor Business – Nanaimo
• Seasonal Wreath Business – Qualicum • Mid-Island Diaper pick-up & delivery Service • Casual Dining Restaurant North Nanaimo • Ricky’s All Day Grill – Ladysmith • Ricky’s All Day Grill – Courtenay
• Sports Retail Clothing & Accessory Store Duncan • Panago Pizza Franchise Parksville
JAY COUSINS
$69,900 $59,900 $95,000 $99,000 $99,000 $119,900 $169,900 $199,000 $249,900 $249,000 $384,900
A26 Vancouver Island
SELL
www.westerninvestor.com AUGUST 2012 WESTERN INVESTOR
ED HANDJA PERSONAL REAL ESTATE CORP. & SHELLEY MCKAY Your BC Oceanfront Team
Specializing in Unique Coastal Real Estate in British Columbia
Ed: 250-287-0011 • Shelley: 250-830-4435 Toll Free: 1-800-563-7322 edhandja@bcoceanfront.com & shelleymckay@bcoceanfront.com
Selling your business? Western Investor Business Opportunity pages are organized geographically so readers can find the opportunity they want.
1-800-661-6988 NANAIMO & VANCOUVER ISLAND COMMERCIAL
NE
W
PR
ICE
NORTHERN SHORES LODGE, HAIDA GWAII Established full-service lodging accommodation business in Sandspit. 1.7 acres semioceanfront, 12,000sqft structure, 16 two-room suites and catering kitchen. 5 minutes to harbour or airport. Diverse business options! $800,000
WINTER HARBOUR MARINA & RV Diverse commercial resort in a premier NW Vancouver Island fishing destination! 2 adjacent oceanfront lots, 20 RV sites, large foreshore lease, standing dock and pier, resort lodgings and a 2 bdrm cabin. $549,000
MONTAGUE HARBOUR MARINA Long established full service facility with consistent clientele, amazing potential, general store, restaurant, .38acre & .32acre upland areas & 2 foreshore leases totaling 2.63 acres. Only private marina on Galiano Island. $1,620,000
703 FLOATPLANE OPERATION Located on the British Columbia coast, this floatplane operation is an established, profitable and well-situated business with an excellent asset base. Domestic and International Licenses, share sale. $1,350,000
DEVELOPMENT & INVESTMENT OPPORTUNITIES Each Office Is Independently Owned And Operated
NANAIMO - COLLEGE AREA Development site in the thriving University area. This upscale development of 10 residential lots and 26 luxurious townhomes has all the necessary plans, reports & approvals in place. Development permit for construction can commence within a short period of time. Excellent opportunity for small builder! Call DARWIN MAHLUM for details.
NANAIMO - CENTRAL AREA Excellent redevelopment Property with holding income from existing Hotel. Great location for a strata of�ce complex where current demand exceeds supply. Located right on Highway 19A with excellent rear entrance and only a few blocks from the Regional General Hospital. Call DARWIN MAHLUM for details.
WOODGROVE AREA
Coming Soon!One of the BEST Multi | Care Facility sites in the north of Nanaimo. Over 9 acres cleared with a gravel loamy base. Close to many amenities makes this a perfect multi use seniors� village. Call DARWIN MAHLUM for details.
Call 250.760.1066 NANAIMO -BEBAN PARK AREA
Quiet No-Thru Road near Bowen Road (on Bus Route). R6 Zoning Allows 20 4-Plex Units. Preliminary Layout & Plans Complete. Not Much Work Left to Obtain Dev.Permit. Well Below Assessed Value. Asking $699,000 Asking $699,000.
Call DAN ROB GRONDIN BORDEN
www.bcoceanfront.com
DOWNTOWN CHEMAINUS FOR SALE OR LEASE
RARE Opportunity! Land and building located in the heart of Chemainus (the Central Island�s premier tourist destination). Call ROBERT BORDEN ROB BORDEN or or SHARON JENSEN for details.
1-800-661-6988
VANCOUVER INDUSTRIAL Very close to the City - older building of 5808 sq. ft. occupies entire lot. Grade level door, 2 separate offices plus wide open space (except for roof pillars). Owner is currently undertaking environmental one study. Call ROBERT ROB BORDEN BORDEN
www.westerninvestor.com
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.
Esso Gas Station with attached A & W Restaurant in Nanoose Bay (Contact for pricing)
Centrally located in Victoria, British Columbia, the Howard Johnson hotel provides a friendly and convenient stop for tourists and business travelers alike. Close to downtown Victoria and the area’s most popular tourist attractions, such as the historic Inner Harbour and the Parliament building. Features numerous modern Conveniences, including an indoor swimming pool, and complimentary wireless internet access and a fitness room.
Outstanding exposure, incredible traffic along the E Island Hwy. Esso service station with attached A&W Restaurant. Self Service gas bar, Propane filling facilities, Diesel, Cardlock and full Esso Convenience Store. Traffic 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.
Downtown Salad Bar
$135,000
Well established Franchise Salad Bar which is the only one in Victoria. Easy to operate & good lease in place.
Post Office w/Dry Cleaning service
$178,000
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!!
Nationally Branded Canadian Franchise
$198,000
Nationally branded Canadian franchise offering fruit smoothies and many other nutritious food options for a fast and healthy alternative to those on the go. Located in a major mall with established clientele, this location has been operating for over two years. Perfect turn key operation for an owner operator. More restaurants and small businesses are available. Please contact Claire.
Centrally located in a Plaza, well established, good lease in place.
Claire Yoo
Bus: 250.477.1100 • Cell: 250.858.6775 Toll Free: 888.477.1105 • Fax: 250.477.1150
claireyoo@shaw.ca
“When dealing with Yoo, YOU ARE #1”
Century 21 Queenswood Realty Ltd. 2558 Sinclair Rd., Victoria BC V8N 1B8
www.claireyoo.com
A27
WESTERN INVESTOR AUGUST 2012 www.westerninvestor.com
From: Frontline Real Estate Services, Surrey, B.C. Frontline seller agent Jordan MacDonald, with buyer agent Virendar Sharma of Amex Fraseridge Realty, reports the following transaction: Deal: 10,400-square-foot commercial building on 1.4 acres, 123 Street, Surrey. Price: $2.24 million. From: Colliers International, Fort McMurray, Alberta. Colliers vicepresident and associate broker Ken Shebib reports the following transactions: Deal: Lease of 13,664 square feet of industrial condominium, Taiga Nova Crescent, Fort McMurray, to Agat Laboratories. Price per square foot: $40.
Deal: Lease of 1,264 square feet of office space, MacKenzie Boulevard, Fort McMurray, to Fougere Accounting. Price: $40 per square foot. Deal: Sale of 20,049-square-foot industrial building, Taiga Nova Crescent. Sold for Kuusamo Developments Ltd. to Alberta Regional Council of Carpenters Corp. Price: undisclosed.
agent Jim Courtney, with vendor agent Wing Tang of Royal Lepage Foothills, Calgary, report the following sale: Deal: 78,000-square-foot Elbow River Casino, situated on one acre at MacLeod Trail and 18th Avenue SE, Calgary, sold for developer Sam Switzer to new local owners. Price: undisclosed (but sources say it is likely “north of $30 million”).
From: HQ Real Estate Services, Vancouver. HQ agents David and Mark Goodman report the following sale: Deal: 12-suite rental-apartment building, Sussex Avenue, Burnaby. Price: (asking) $2.54 million (or approximately $211,000 per door). Deal: Nine-suite rental apartment building, Fairfield Road, Victoria. Price: (asking) $1.54 million (or $171,00 per door).
From: Target Realty Corp., Calgary. Target associate broker Keith Armstrong and agent Reg Power report the following sale: Deal: 7,950-square-foot industrial property on 1.26 acres, Calgary. Sold for J.&R. Hall Transport Inc. to R.S. Foundation Systems Ltd. Price: $2.21 million. Recently completed a major commercial real estate deal in Western Canada? Send details for a free report here to: wieditor@biv.com.
From: NAI Commercial, Calgary. NAI
Photo: Target Realty Corp.
D
one Deals is our monthly feature highlighting some of the major real estate transactions completed recently in Western Canada’s vibrant commercial real estate market.
Our readers report on recent commercial real estate deals across Western Canada
7,950-square-foot Calgary industrial building sold for $2.21 million.
Photo: Calgary Tourism
DONE DEALS
Elbow River Casino, Calgary, sold July 1 for “north of $30 million.”
Vancouver Island AUGUST 2012 – Western Investor A Done deals / 8 blocks / frank
Get the Power. Photo: done deals 8535
To view commercial properties or find a RE/MAX Commercial practitioner near you, visit
commercial.remax-western.ca
Cutline: 10,400-square-foot commercial building in Surrey sold for $2.24 million. Photo: Amex Fraserridge Realty
Each office is independently owned and operated.
Photo: done deals elbow casino
CUTLINE = The Elbow River Casino, Calgary sold July 1; price not disclosed. PARKSVILLE – QUALICUM BEACH OPPORTUNITIES! Photo: Calgary Tourism
VAnCouVeR ISlAnd Comox Valley
WATERfRONT CASH fLOW BRITISH BOBBy RESTAURANT From: Frontline Real Estate Services, Surrey, B.C. Frontline Parksvilleseller agent Jordan MacDonald, with buyer agent Virendar Qualicum Beach Sharma of Amex Fraseridge Realty, reports the following transaction: • RETAIL/OFFICE/LIGHT INDUSTRIAL 2 level, 2 suite 50 seat licensed restaurant FOR LEASE $6.00 – 14.00/sq ft Deal: 10,400-square-foot commercial building on 1.4 acres, 123 Street, Surrey. Price: SPACES $2.24 million. Walk on waterfront Highway 19A exposure • 1,200 SQ FT 18' CEILING ..........$139,900 zoning From:Commercial Colliers International, Fort McMurray, Alberta. Colliers vice-president and associate broker Ken Shebib reports the Efficient Kitchen Excellent group use following transactions: • LIGHT INDUSTRIAL STRATA Current owner since 2005 +/-1500 SQ FT Over 20' ceilings ��������� $274,900 /or investment Deal:and Lease of 13,664 square feet of industrialwishes condominium, to retire Taiga Nova Crescent, Fort McMurray to Agat Laboratories. at $995,000 Price Offered per square foot: $40. Offered at $75,000 • 3300 + SQ FT IN COURTENAY Deal: Lease of 1,264 square feet of office space, MacKenzie Boulevard, Fort McMurray, to Fougere Accounting. Price: $40 Retail/Office/Warehouse (Strata) .......$275,000 per square foot. INvEST / TRAdE / BUSINESS COMMERCIAL BUILdINg HIGH QUALITY STRATA OFFICE Alberta Deal: Sale of 20,049-square-foot industrial building, Taiga Nova Crescent. Sold for • Kuusamo Developments Ltd. to Parksville 2,400 sq ft ����������������������������������������������$599,900 3 Title Development site in QB Regional Council of Carpenters Corporation. Price: undisclosed. 1953 sq ft of David display /and retail, offices From: HQ$995,000 Real Estate Services, Vancouver. HQ agents Mark Goodman report the following sale: ......$850,000 • .71 AC LOW RISE APT SITE & service bay; Residential Acreage in Town Deal: 12-suite rental apartment building, Sussex Avenue, Burnaby. Price: (asking) $2.54 million. • 3,000 SQ FT RETAIL BUILDING $359,000 Just Road, Blocks Victoria. from town Price: centre;(asking) $1.54 Deal: 9-suite rental apartment building, Fairfield million. On ½ ac, Courtenay $925,000 NOW $799,000 Established Flower Shop Your business location or From: NAI$69,900 Commercial, Calgary. NAI agentinvestment Jim Courtney, agent Wing Tang of Royal Lepage Foothills, • 1 ½ ac OF GREENHOUSES on 6�5 ac of 6% atwith $8/sqvendor ft Campbell River ....................... $1,500,000 Calgary, report the following Established Boutique Restaurant sale. Offered at $250,000 Deal: The Elbow has been sold to new local owners. $85,000River Casino, at MacLeod Trail and 18th. Avenue SE, Calgary, Alberta • 8 UNIT APT & MOBILE on 6.36 ac. Price: not disclosed (sources say it is likely “north of $30 million.”) N� Courtenay ��������������������������������� $850,000 for additional info contact for additional info contact
PREMIUM VICTORIA PIZZA CHAIN 4 LOCATIONS NET TO OWNER AFTER MANAGERS WAGES $158,000 ESTABLISHED IN 1972 PRICED AT $485,000
SOLD
Ian Lindsay & Associates ian@ianlindsay.ca
Rudi Widdershoven team@teamw.ca
RE/MAX First Realty - Parksville
1-888-243-1071
•
HIGH-END WILDERNESS RESORT.
Forbidden Plateau ��������������������$2,395,000
For Detailed Information Please Contact:
IAIN MACDONELL
RE/MAX SELECT PROPERTIES
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call Gary Takahashi
Rob Samsom
AACI CCIM FRI Personal real estate CorPoration
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www.robsamsom.ca RE/MAX Ocean Pacific Realty
(604) 328-3929
WWW.MACDONELLS.COM
toll-free: 1-800-661-6988 direct: (604) 608-5111 gtakahashi@westerninvestor.com fax: (604) 669-2154
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#101 6337 - 198 Street, Langley, B.C. V2Y 2E3 Tel: (604) 533-3491 Fax: (604) 533-0202 Toll Free at 1-888-707-3577
2630 Bourquin Crescent West, Suite 9, Abbotsford, B.C. V2S 5N7 Tel: (604) 859-2341 Fax: (604) 850-2325 Toll Free at 1-800-668-8661
7300 Vedder Road, Suite 1, Chilliwack, B.C. V2R 4G6 Tel: (604) 858-7179 Fax: (604) 858-7197 Toll Free at 1-800-830-7175
COMMERCIAL BUYER/TENANT REPRESENTATION Call or email David DEVELOPMENT SITES
Central Port Coquitlam RS4 20,000+ Sq. Ft. Zoned for 3 lots! Holding income. Offered at $989,000 CLS#: V4030642 Call or email David RETAIL STORES FOR SALE 2570 Kingsway Ave in Port Coquitlam presently a restaurant. Property only for sale Call or email David not the business – don’t ask for business numbers please. 748 Sq. Ft. $309,900 CLS#: V4030490 RETAIL STORE FOR SALE
2568 Kingsway Ave in Port Coquitlam – presently a convenience store Property only for sale not the business – don’t ask for business numbers please. 821 Sq. Ft. $339,900 CLS#: V4030247 Call or email David INDUSTRIAL FOR LEASE
#64 - 1833 Coast Meridian Rd Port Coquitlam 15 0 0 s f i n c l u d e s showroom, offices and warehouse. Perfect for electrician, plumber, mechanical contractor $1600.00 / month! CLS# (#TBD!) Call or email David
DAVID KEARNEY CCIM www.davidkearney.com dkearney@remax.net 604-942-0606 Toll Free: 1-888-942-0606
RE/MAX SABRE REALTY
“LOOKING FOR SOME HELP IN STARTING OR EXPANDING YOUR INVESTMENT PORTFOLIO, LETS CHAT, COFFEE ON ME.” • Fort St John, Investment opportunity. Well kept up, light Industrial building in Prospect Park close to Highway. 5 bays, offices on main and above with lunch room. Fenced yard with storage sheds. $1.1 Million .
rayy@remax.net www.rayyenkana.com (listing details) Follow me on Twitter @rayyenkana
RE/MAX LITTLE OAK REALTY
61.85 ACRES - FRASER VALLEY
768 ACRE 5 TITLE CATTLE RANCH AND PLAYGROUND
RAY YENKANA CCIM, ABR 1-800-668-8661
• A1 Zoning, 2547 sq. ft House, 2nd dwelling allowed, • 30'X114' Shop 14 ' doors, 400 Amp power, 3 phase available, city water plus water license for irrigation, good flat land • 3 Barns 72'X160', 50'X115', 69'X97' plus other buildings REDUCED TO $2,199,900 DAVE ABBOTT 1-888-296-8060 dave@fraservalleysales.com RE/MAX 2000
102-2748 Lougheed Hwy., Port Coquitlam, B.C. Tel: (604) 942-0606 Fax: (604) 942-9533
• Say goodbye to your boss, and come own this turnkey biz in Abbotsford. Auto Body biz for sale. $159,000 • 4000 sq ft Light Industrial newer (2007) building in Dawson Creek, BC.
RE/MAX SABRE REALTY GROUP
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.
SPECTACULAR VIEW 36.4 ACRE PROPERTY – ABBOTSFORD
One of a kind awesome view, overlooking Fraser river & Valley farms. Ideal building site for the exclusive country estate. Fully useable farmland for berries or livestock. $2,188,000
CALL ROY MUFFORD 604-533-3491
RE/MAX TREELAND