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

PROVEN RESULTS

NAI Commercial

%XCLUSIVE!GENTS

PROUDLY REPRESENTED

VANCOUVER • LOWER MAINLAND • VANCOUVER ISLAND SECTION

Terry Harding harding@naicommercial.ca

Boardwalk Equities

tel: 604 691 6615

INTHESALEOFUNITS, a three-complex portfolio in

Jackson Tang

Burnaby and Coquitlam for

$32,900,000

79 UNITS

105 Units

41 Units

sTH!VENUE sTH!VE s"URNABY"# s$EC  SOLD$12,250,000

s3MITH!VENUE s#OQUITLAM"# s$EC  SOLD $16,150,000

s2IDGEWAY!VE s#OQUITLAM"# s$ECTH  SOLD $4,500,000

tel: 604 691 6680

www.naiapartments.ca

MERRITT, BC OPPORTUNITIES NEW PRICE 11.4 ACRES DEV. LAND ADJACENT TO WAL-MART s6ENDORHASOTHERINTERESTS s.OWONLY$3.25 MilKAC

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

LANDSCAPE SUPPLY BUSINESS – NEW PRICE s"RICKS BLOCKS PAVERS ROCKS FOUNTAINS ETC s!LLBUSINESSINVENTORYEQUIPMENT INCLUDINGFORKLIFTSBOBCAT s'REATOPPORTUNITYTOADDNURSERYBUSINESS sAsking $139,000

967 ACRES s:ONED2ES )NDUSTRIAL s(UGE'RAVEL2ESERVES sMINTO-ERRITT sPriced at $8.0 Mil ($8,275/acre) MINI STORAGE ON 1 ACRE PARCEL sUNIT3ELF 3TORAGE&ACILITY s2OOMTOEXPANDBYACQUIRINGADJACENT ACRESITE s0ROFORMA./)   s$1.475 Mil

JUST LISTED – HOT PRICE s5NIT4OWNHOUSE3ITEs!C2- &ZONING s3ERVICESATSTREETsAsking $749,000

+/- 300 ACRES s#URRENTLYZONED# 3PECIAL%VENTSs#ITYSERVICES s!PPLICATIONTOREZONETOHECTAREESTATES$5.9 Mil

INVESTMENT BUILDING FULLY LEASED s SQFTBUILDING3PRINKLERED#RAWLSPACE 4 BARCEILINGSTHROUGHOUTs$749,000

FOR LEASE 8,459 SQ. FT. SHOWROOM & W/H

14 ICI OUTLOOK: YEAR OF DEALS

Vancouver ranked as top market for 2011

â–˛

Multi-Family Investment

jackson@naicommercial.ca

Colliers vice-president Avtar Bains: outlook solid for both downtown office landlords and multi-family investors

9 BOLD VISION SHAPING B.C.’S SECOND CITY

Surrey mayor leads suburban behemoth to big-city boasting rights 25 MOTELS FACE WAKEUP CALLS

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

Low occupancies mean lenders calling the shots

INVESTMENT PROPERTIES FOR SALE LANGLEY AREA

SPECIAL SECTION • B14

INDUSTRIAL FREE STANDING BLDG.

s SQFT7AREHOUSE/FlCE sACRESPAVEDLOT s&INISHEDOFlCEWITHMEZZANINE s(EAVYPOWER FENCEDANDSECUREYARD s%XTRAYARDAREAn2ARE s$2,500,000.00

s$ 5.50 s.f. plus $2.50 s.f. T.N.

3 LIGHT INDUSTRIAL LOTS sACRESEACHAmazing price $59,900 ea.

RETAIL FREE STANDING BLDG.

s%XCELLENTEXPOSURELOCATIONON&RASER(IGHWAY s)DEALFORENDUSERWITHONETENANT UPSIDE POTENTIAL s SQFTOFRETAILSPACE s#ONCRETEBUILDING YEARSOLD SPRINKLERED s%XPANSIONPLANSFORNDANDRDmOORS s $1,250,000.00

RARE OPPORTUNITY BUSINESS WITH PROPERTY

s%STABLISHEDAUTOMOTIVETIREFRANCHISEREPAIR ANDSALESBUSINESS s%XCELLENTEXPOSURE LOTSIZEn SQFT s SQFTFREESTANDINGBUILDING sGRADELOADINGDOORSs&ULLYEQUIPPED s $1,050,000.00

DON MACDONALD, CCIM OR TODD BOHN 604-534-7974 or 1-800-890-9855 s donmac@naicommercial.ca

Build on the Power of Our Network. Over 325 Offices Worldwide.

$4.29 JANUARY 2011 Vol. 26/Issue 1

HOT PROPERTIES R E C R E A T I O N A L R E A L E S T A T EE

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

washington dream estate

40 acres +/-; large wildlife pond with bass; water rights; property could be suitable for berries, vineyard; great building site; 15 minutes from Truck Xing at Blaine, 5 minutes from Aldergrove crossing; ďŹ nder’s fee for realtors; 599K U.S. funds; more info www.copaccenter.com


A2 Lower Mainland 28 SUITE APARTMENT BUILDING, LANGLEY

t.PTUMZCFESPPNT FYUFOTJWFMZ renovated tDBQ t   t$MFBSUJUMF

DON DUNCAN / CHRIS DRIVER / PERSONAL REAL ESTATE CORP.

BRETT AURA

MAPLE RIDGE DEVELOPMENT SITE

tBDSFT t-PDBUFEJO5PXO$FOUSF"SFB1MBO t1PUFOUJBMGPS5PXOIPVTFPS"QBSUNFOU t"TLJOH  

BRETT AURA CRAIG BALLANTYNE

FOR SALE - SALT SPRING ISLAND RESORT

t1PSU,FMMT/PSUIXFTU-BOHMFZ*OEVTUSJBM Area t. )FBWZ*OEVTUSJBM [POFE t TGTQSJOLMFSFEESZTUPSBHF building t-BSHFPGmDFGVMMZQBWFETJUF t%FUBJMFEQSFTFOUBUJPOBWBJMBCMF

tBDSFMBLFGSPOUSFTPSUQSPQFSUZPO4BMU Spring Island tDPUUBHFTBOEGPVOEBUJPOTGPSBMPEHF and pool building t1PUFOUJBMGPSBUPUBMPGDPUUBHFT

WILLIAM N. HOBBS

HIGHWAY EXPOSURE

t5SJQMF"UFOBOU 1SJODF(FPSHF t7FSZNPEFSOJOEVTUSJBMGBDJMJUZ t$VSSFOUJODPNF  t"TLJOHQSJDF  

PENTICTON APARTMENT BUILDING FOR SALE

t1FSLJOT$SFTDFOU tTVJUFBQBSUNFOUCVJMEJOH tBDSFMPU t(SPTTJODPNF  t$FOUSBMMPDBUJPO t"TLJOH  

DAVID POTTINGER

HIGH VISIBILITY INVESTMENT OPPORTUNITY

t'VMMDJUZCMPDLo1SJODF(FPSHF #$ t TGPOBDSFT t5XPUFOBOUT t/FUJODPNFPGPWFS QFSZFBSo SFUVSO t"TLJOH  

RICK EASTMAN

BILL RANDALL / DON DUNCAN / CHRIS DRIVER / PERSONAL REAL ESTATE CORP.

SINGLE-TENANT INVESTMENT

t8IPMFTBMFTQPSUTo,BNMPPQT t"""DPWFOBOU tSFOUBMHSPXUI t$VSSFOU/0*  t1SJDF  

ERIC WALKER

BRETT AURA

239 тАУ 241 E. 1ST AVE

t/PSUI7BODPVWFS t TGCVJMEJOH t1SPKFDUFEJODPNF  t1VSDIBTFQSJDF  

FOR SALE - $1,065,000

t/P3PBE 3JDINPOE #$ tBDSFT FYDFMMFOUMPDBUJPO  TG home t"HSJDVMUVSBMMBOE

PERSONAL REAL ESTATE CORP.

BILL RANDALL

BRAD NEWMAN-BENNETT/ DAVID POTTINGER

RON EMERSON

FOR SALE: BRAND NEW STRATA BUILDING

94,040 SF INDUSTRIAL BUILDINGS ON 10.28 ACRES

FOR SALE - 15 LEGAL SUITE S. GRANVILLE APARTMENT

t/PSUI'SBTFS8BZ t  TG t#VJMUCZ5IF#FFEJF(SPVQ t*EFBMGPSPXOFSVTFSJOWFTUPST t%PDLHSBEFMPBEJOHDFJMJOHT

t-PDBUFEJO1SJODF(FPSHF tPDDVQJFE t8FMMCFMPXSFQMBDFNFOUDPTU t"TLJOHQSJDF  

*SEAN UNGEMACH MICHAEL THOMPSON

BILL RANDALL

BILL RANDALL

ERIC WALKER

PRIME OKANAGAN DEVELOPMENT OPPORTUNITY

FOR SUBLEASE 303 VERNON DRIVE

FOR SALE - HIGH EXPOSURE CLOVERDALE PROPERTY

t0VUTUBOEJOH4PVUI(SBOWJMMFMPDBUJPO t4UFQTUP(SBOWJMMF4USFFUTIPQQJOH t7FSZXFMMNBJOUBJOFEXJUISFDFOUSFOPWBUJPOT t"TLJOH1SJDF  

DON DUNCAN / CHRIS DRIVER / PERSONAL REAL ESTATE CORP.

t-BLFTIPSF%SJWF 0TPZPPT #$ tBDSFTJUF t7JFXTPG0TPZPPT-BLF t-BTUMBSHFEFWFMPQNFOUQSPQFSUZJO the area t1SJDFSFEVDFEUP  

PERSONAL REAL ESTATE CORP.

FOR SALE - LIGHT INDUSTRIAL WAREHOUSE

TRIPLE AAA TENANTS тАУ INVESTMENT OPPORTUNITY

REBUILT APARTMENT BLGD, MERRITT BC

t7JDLFST8BZ 3JDINPOE #$ t5XPMFHBMUJUMFT BDSFT

t TGNBOVGBDUVSJOHGBDJMJUZ t$VSSFOUMZMFBTFEVOUJM'FC t$BOCFNBEFBWBJMBCMFPOBWBDBOUCBTJT

DAG MEYER

COURT ORDERED SALE

GROCERY ANCHORED SHOPPING CENTRE

t8PPE-BLF%FWFMPQNFOU4JUF t%JTUSJDUPG-BLF$PVOUSZ #$ tBDSFTQMVTBDSF8BUFS-PU Lease t"TLJOH  

MARK GALLAGHER HUDGE PARMAR

FREE STANDING MEDICAL BUILDING, MAPLE RIDGE

FOR SALE 10.65 ACRES

t#SPBEXBZ4USFFU 1PSU$PRVJUMBN tBDSFTJUF t.[POJOH t%1JOQMBDFGPS TGCVJMEJOH t4JUFIBTCFFOQSFMPBEFE t"TLJOH  

t TGDPODSFUFCVJMEJOHPO acre lot t"ODIPSFEXJUI#$#JPNFEJDBM t-PDBUFEPOUISJHIUPGG-PVHIFFE Highway t4UBCJMJ[FEOFUJODPNF  t"TLJOH  

t1JUU.FBEPXT t$% tBDSFT  tBDSFT 

ERIC WALKER

t3FUBJMTUSBUBVOJU t TG t.PUJWBUFEWFOEPS t 

ALASTAIR FERGUSSON

JAMESON HOUSE OFFICES

t0GmDFJOWFTUNFOUPQQPSUVOJUZ t4USBUBPGmDFnPPSTGPSTBMF t0XOJOUIFIFBSUPGUIF$#% t"WBJMBCMF.BZ 

JENNIFER ROBERTSON

t#BOLPG/PWB4DPUJBBOE$BOBEB1PTU tTJOHMFTUPSFZCVJMEJOHT MBSHFMFWFMMPU t1FNCFSUPO #$ t"TLJOH  

LEE HESTER

PERSONAL REAL ESTATE CORP.

FOR SALE - 1.85 ACRE DEVELOPMENT SITE

917 DENMAN STREET, VANCOUVER, BC

DAVID CANNING BILL RANDALL

PERSONAL REAL ESTATE CORP.

INVESTMENT PROPERTY & BUSINESS OPPORTUNITY

CRAIG BALLANTYNE / ANDREW LAURIE

t&YDFMMFOUFYQPTVSFBOEBDDFTTUP )JHIXBZ t TGPGCVJMEJOHT t)JHIXBZ$PNNFSDJBM*OEVTUSJBM[POFE t"TLJOH  

GREG MILES BILL RANDALL

PERSONAL REAL ESTATE CORP.

GREG MILES

t TGXBSFIPVTFPGmDFCVJMEJOH t BDSFTJUF t (SFBUFYQPTVSF t 'FODFE QBWFEBOETFDVSFEZBSE t )JHIFYQPTVSFMPDBUJPO

MARK GALLAGHER LEAH COLLINGS

BRETT AURA

COURT ORDER SALE

t4UBSCVDLT 4VCXBZ -JRVPS4UPSF t&TDBMBUJOHSFOUT t1SJDF  

PERSONAL REAL ESTATE CORP.

PERSONAL REAL ESTATE CORP.

*SEAN UNGEMACH KYLE WILSON

t1SJODF(FPSHF t TGPOBDSFT t-FBTFEVOUJM+VMZ t4USPOHDPOWFOBOU t"TLJOH  

MERRITT JUNCTION

BILL RANDALL

PERSONAL REAL ESTATE CORP.

PERSONAL REAL ESTATE CORP.

t#SJUFXBTI$BSXBTIJOH4ZTUFNT*OD tBDSFTBU)BTUJOHT #VSOBCZ t'VUVSFEFWFMPQNFOUQPUFOUJBM t$%[POJOH t"TLJOH  

FOR SALE тАУ INVESTMENT

PERSONAL REAL ESTATE CORP.

FOR SALE - 5.8 TO 10+ ACRE RAIL SERVICED SITE

PERSONAL REAL ESTATE CORP.

www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR

t#FBVUJGVMSFTJEFOUJBMTJUFXJUIGBOUBTUJD views t$FEBS7BMMFZ$POOFDUPS  Mission, BC t"TLJOH  

BILL RANDALL

PERSONAL REAL ESTATE CORP.

HUDGE PARMAR

t'SBTFS)JHIXBZ4VSSFZ #$ t TGTIPQQJOHDFOUSF tBDSFTPO'SBTFS)JHIXBZ t  

tTVJUFToXJUITFQBSBUFFOUSBODFTBOE balconies t#FUUFSUIBOOFX BOESFBEZGPSSFOUBMT t&YDFMMFOUMPDBUJPO DMPTFUPFWFSZUIJOH tSFUVSOPO  QSJDF

DAG MEYER

OKANAGAN LAKE FRONT DEVELOPMENT SITE

t7FSOPO #$ tBDSFT t"QQSPYJNBUFMZGFFUPGMBLFGSPOUBHF

CRAIG HAZIZA/ADAM FRIZZELL

MARK GALLAGHER LEAH COLLINGS

FOR SALE

FOR SALE - 2.7 ACRES OF INDUSTRIAL LAND

t8IJTUMFS%FWFMPQNFOU1BSDFMT tBDSFTBDSFT t&YDMVTJWF QSJWBUFBOETQFDUBDVMBS scenery of Whistler, Blackcomb and Green Lake

t-PDBUFEDMPTFUP)8:)8: t;POFE*BOE4FSWJDFE t-PDBUFEJO"CCPUTGPSE #$ t"TLJOH  

MARK GALLAGHER LEAH COLLINGS

ROBERT HUMPHREYS BILL HOBBS

RARE FREESTANDING 5 UNIT INDUSTRIAL BUILDING

SINGLE-TENANT INVESTMENT

PERSONAL REAL ESTATE CORP.

SILVER CHALICE PUB HOPE, BC

t4JMWFSWJFX3PBE t1VCBOE#FFS8JOF4UPSF t.BOZmYUVSFTDIBUUFMTJODMVEFE t TGCVJMEJOHPOBDSF t 

BILL RANDALL

PERSONAL REAL ESTATE CORP.

t5VQQFS"WFOVF $PRVJUMBN #$ t  TGPOBDSF t0XOFSVTFSPQQPSUVOJUZXJUIJODPNF t/FXSPPG t&YDFMMFOUMPDBUJPOOFBS)JHIXBZ *LFB*$#$ t4BMFQSJDF  

RICK EASTMAN

PERSONAL REAL ESTATE CORP.

t/BOBJNP"UIMFUJD$MVC tBDSFT t#VJMEJOHTG t/0* BOOVBMMZ t"TLJOH  

ERIC WALKER

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


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

41&$*"-4&$5*0/Â…#

HOT PROPERTIES

FEATURES 14 0/5)&$07&3$PNNFSDJBMSFBMFTUBUFPVUMPPL

On the cover Avtar Bains, executive vice-president of Colliers International, is bullish on the outlook for 2011. Photo: Richard Lam

3&$3&"5*0/"-3&"-&45"5&

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

2011 seen as year of the deals - with advantage to buyers

9

4VSSFZ4UBSUTQSFBEJOHUIFOFXT



Visionary mayor, vibrant downtown attracting investors



Download a PDF of all our Regional Roundups online at www.westerninvestor.com

2–21 -08&3."*/-"/%  3&"-&45"5&



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



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Experts say swapping for property makes sense today

25 3FTUMFTTOJHIUTBIFBEGPSNPUFMPXOFST 

23–27 7"/$067&3*4-"/%   3&"-&45"5&

A glut of listings, lack of buyers and hard-nosed lenders

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COLUMNS 6

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…*/5&3*03#$ …"-#&35" …05)&31307*/$&4 …'3"/$)*4&4 ™4&&4&$5*0/#

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6 0 4 - 6 6 9 - 8 5 0 0 o r 1 - 8 0 0 - 6 6 1 - 6 9 8 8 f a x : 6 0 4 - 6 6 9 - 2 1 5 4 i n f o @ w e s t e r n i n v e s t o r. c o m w w w. w e s t e r n i n v e s t o r. c o m 1 0 2 E a s t 4 t h A v e n u e , Va n c o u v e r, B . C . V 5 T 1 G 2

MEAT PROCESSING PLANT LYNDEN, WASHINGTON $1,390,000

USDA approved meat processing plant available. Busy 5-1/2 day schedule. Property includes a 5 bedroom, 1.5 bath home built in 1923 and has been completely updated to a beautiful setting that shows pride in ownership.

BIRCH BAY 39.40 ACRES $950,000

Two parcels: 19.7 acres each. One parcel permits a 45 lot residential subdivision. All permits approved and ready to start infrastructure. 2nd parcel of 19.7 acres is a 6 unit apartment site. Adjacent 20.27 acres is available for $550,000 for a 76 lot residential subdivision.

RON BENNETT COMMERCIAL REAL ESTATE Ron Bennett

SUTTON GROUP WEST COAST REALTY

CALL

(USN Ret.)

/ Owner - Broker

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

fax 604-888-3261 Don Munro 604-817-7338 botsold@intergate.ca ACREAGES

SURREY 18148 92nd Avenue s!CRES s&UTURE$EVELOPMENT 0OTENTIAL s$ESIGNATED#LUSTER 2ESIDENTIAL

LANGLEY 24421 Fraser Highway s!CRES s0OSSIBLE&UTURE0OTENTIAL LANGLEY

27691 Downes Road SURREY 188th Street & 80th Ave s!CRES s!CRES s "DRM(OMEWLOFT s&UTURE0OTENTIAL s,ARGE3HOPAND"ARN LANGLEY 48th Avenue & 216th St s!CRESPARCELS LANGLEY LANGLEY 889 Lefeuvre Road 27449 60th Avenue s!CRES s!CRE0ARCEL s,ARGE-USHROOM&ARM s,ARGE#OUNTRY(OME s3HOP#OMPOSTING WITH(ELPER3UITE &ACILITY s0OSSIBLE&UTURE0OTENTIAL s'ROWING"ARN s%ASY!CCESSTO 4RANS#ANADA(IGHWAY s-ULTI 5SE"UILDING

✓ VALUE FOR $

✓ GOOD RETURN

COMMERCIAL / INDUSTRIAL LANGLEY 20552 24th Avenue s!CRES s"EDROOM 3TOREY(OME s-OBILE s0ADDOCKS s3TALL"ARN 2IDING2ING

LANGLEY 27031 Fraser Highway s SQFTLOT s:ONED# #OMMERCIAL

LANGLEY 27571 60th Avenue s!CRES s(OUSEAND-ODULAR (OME CHILLIWACK 51140 Ruddock Road s!CRES s0OTENTIALFOR,OTS

SURREY 11151 Bolivar Street & 13340 112 Avenue s!CRESONCORNER s:ONED#((IGHWAY #OMMERCIAL

SURREY 19518 32nd Avenue s!CRES#AMPBELL

CHILLWACK (EIGHTS 700 Columbia Valley Road s$ESIGNATED"USINESS s!CRES /FlCE0ARK s0RIME&ARM,AND

✓ TENANT COVENANT

CHILLIWACK FOR LEASE 44580 Yale Road s SQFTBUILDING s!CRES s   SQFTFENCED COMPOUNDZONED-  3ERVICE)NDUSTRIAL

CHILLIWACK Victoria Street s SQFT #OMMERCIAL2ETAIL s2ESIDENTIAL3UITE s:ONED# 4OWN#ENTRE#OMMERCIAL

CHILLIWACK 7730 Old Orchard Road s!CRES s4RANS#ANADA(WY %XPOSURE s--)NDUSTRIALZONING 0OTENTIAL CHILLIWACK 45860 Cheam Avenue & 9070 Birch Street s0ROPERTIESTOTAL!C s SQFT#OMMERCIAL /FlCE"UILDING s/FlCE/RIENTED,EASE 3PACES s/N 3ITE0ARKING s'OOD4RAFlC#OUNT

AGASSIZ 6958 Pioneer Avenue s   SQFT&ULLY ,EASED#OMMERCIAL"LDG s  !CRE0ARCEL s:ONED#4 4OWN #ENTRE#OMMERCIAL

✓ UPSIDE

MAPLE RIDGE 21163 Lougheed Highway s!CRES s!CRE0ARCELS s(IGHWAYFRONTAGE 2IVERFRONTAGE s$ESIGNATED), ,IGHT )NDUSTRIAL

✓ CAREFREE


A4 Lower Mainland

www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR 

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81,260 sq. ft. R&D BUILDING AT UBC

01-/$6$01,# . /1+$,1!2(*#(,& 2,(10!$ 21(%2* 2.&/ #$0

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

11/ "1(3$ 2,(101/ 1 1(1*$# /$,1 * . /1+$,1!2(*#(,&

  

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CALL LARRY AT 604-689-8226

 6;/0--,1/0=*? "68:67;1:3*4

CATERING BUSINESS & COMMISSARY KITCHEN The building may be leased or purchased This custom built kitchen offers about 3,000 sq ft and can accommodate 20 â&#x20AC;&#x201C; 24 guests/students around the central station. There is a small retail cafĂŠ of about 400 sq ft plus a 1,600 ft 2nd ďŹ&#x201A;r fully equipped ofďŹ ce space, part of which has a view of the kitchen below and is ideal for schools and training. This turnkey operation will appeal to chefs, caterers, schools and restaurateurs wanting to expand or grow their business. Call LARRY

 8*9-81/0=*?

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Dexter Associates Realty Commercial Real Estate, Your Trusted Advisors:

Larry Traverence, Sandi Fratino

Call 604-689-8226 for results â&#x20AC;&#x153;We are focused on achieving the results YOU want.â&#x20AC;?

â&#x20AC;˘ Richmond, Site: Condo development + Hotel turnkey. $8,000,000 â&#x20AC;˘ Vancouver, Site: Great Sky-train location. $28,000,000/terms â&#x20AC;˘ Squamish, condo Sites: 31 units, downtown. $1,550,000/terms â&#x20AC;˘ N. Vancouver, Apartment buildings: Central Lonsdale area. 20 Suites, $3,650,000 - 11 huge suites (2 & 3 bedroom) $2,250,000 â&#x20AC;˘ North Vancouver, 19 unit Rooming house = Cash ďŹ&#x201A;ow. $1,400,000

For Commercial, Investment, Land Assembly and Project Development Call:

PAUL MURPHY (604) 986 1586 email: pmurph@telus.net

 "/$-"$ ,%/-,1./-.$/16"-,0(01(,& -% 1(1*$04(1'&/$ 1.-1$,1( *

   

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$ 8, 8, -

â&#x20AC;˘ Nanaimo, Waterfront Hotel, Marina plus condo Site, $6,000,000.

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â&#x20AC;˘ Island, Waterfront Hotel and Marina + Condo Opportunity

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â&#x20AC;˘ Squamish Hotel: 25 rooms + guest suite, pub, night club, cafĂŠ & retail. Upgraded. Makes money! $2,588,000 + terms with $550,000 down!

(-9:*33-5*993*5,   ;3.93*5,9

,

$2,500,000

%  

+-

â&#x20AC;˘ Port Moody, Retail, land & bldgs. 6% cap. 10 yr lease;

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UNIQUEPROPERTIES

- #,;

â&#x20AC;˘ FEATURE: Port Moody Apartment building, as new, 32 huge suites (22 x 2bed, 6 x 1bed and 3 x 3bed) $360,000 net, price $6,550,000

$*4 *203-0 *8:;+2

1+

VANCOUVER, VICTORIA, NANAIMO and SQUAMISH!



 

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HOTELS, APARTMENT BUILDINGS and SITES in

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www.UNIQUEPROPERTIES.ca  #  "!  " # !  "  &   !"" !!!"" $!#    $! ' ! $! ""!"' !""!!"!# $"!! %"  "!""!&#!$   "! #"#  "! ! "   "   "!  # !! ! ! "!  ! "   !#   "!$" "#"!#    ! !""  " **)()

WESTCOAST REALTY

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Lower Mainland A5

WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com

APARTMENT BUILDING SPECIALIST WEST END

PENTICTON

51 Units â&#x20AC;&#x201C; 2 Buildings Gross Income $637,158 Walk to Beach

WEST SIDE

9 Unit Apartment Building 75 Unit Apartment Building Close to Skaha Lake, Central location Near schools, shops, community centre Gross Income $104,280 Gross Income $547,222

CLOVERDALE

NEW WESTMINSTER

LANGLEY

36 Unit Apartment Building Spacious and Clean Gross Income $325,032

17 Units â&#x20AC;&#x201C; 2 Penthouses View suites, near college, parks Cap Rate 5.05%

28 Units - Well Maintained Central Location Gross Income $270,797

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

604.263.2823

Call Today For Your Management Proposal!!

Property Management

OCEAN FRONT â&#x20AC;˘ KIHEI, MAUI

7 7 We give you our full attention at fair and competitive rates! Ph: 604-864-6400 T/F: 1-877-864-6424 www.strataschoice.com email: colleen@strataschoice.com 1A 33820 South Fraser Way, Abbotsford, BC V2S 2C5

75 foot empty lot, gorgeous sandy beach, beautiful mature palms. Great for 2 high end townhomes (or executive home) of 1650 s.f. each. Have drawings, less expensive than Canadian lakefront with year round perfect weather. Was $3.6M. Now only $1.995M. (Will build for $1.95M per townhouse). Additional 75 foot lot available next door for a total of 4 townhomes if needed. Sell 3 get one free!

MAUI, HAWAII 4.3 acres development site zoned condo/hotel 1/2 block to ocean and beautiful beaches, great ocean views, all amenities. Drawings available for 124 units (all 2 bedrooms). 50% - 100% of project available. Water and permits available, possible 34 timeshare units. Once sold for $15.2M. Now only $5.8M Possible trades for revenue property.

Call Dennis Blain

403-246-1697 â&#x20AC;˘ Email: dennis@nokaoidev.com Website: www.nokaoidev.com

DEVELOPMENT FOR SALE

STRATA RETAIL SALE/LEASE

STRATA OFFICE SALE/LEASE

INDUSTRIAL SALE

INDUSTRIAL SALE/LEASE

44 West 4th Avenue Vancouver

1777-1799 Kingsway Vancouver

3410 Lougheed Highway Vancouver

5371 Regent Street Burnaby

6010 Trapp Road Burnaby

 SQFTSITEs&32 2AREHIGHEXPOSURECORNERDEVELOPMENT Opportunity with holding income

Three units available from 878â&#x20AC;&#x201C;3,005 sq ft (IGHEXPosure corner location From $350.00 per sq ft

n SQFTs2EDUCEDLEASERATE .EWCONCRETEOFFICEDEVELOPMENT Adjacent to Rupert SkyTrain station

41,000 sq ft warehouse/manufacturing  SQFTOFFICEsACRESITE - ZONINGs(IGHWAYEXPOSURE

 SQFTONACRESs(EAVY MANUFACTURINGFACILITYs0OTENTIALPARTIALVENDOR LEASEBACKsRedevelopment opportunity

Stephen Webber

Conor Finucane

Don Mussenden, Anthony Lux

Steve Caldwell

Steve Caldwell, Chris McIntyre

INDUSTRIAL SALE

INDUSTRIAL SALE

INDUSTRIAL/OFFICE SALE/LEASE

DEVELOPMENT SITE FOR SALE

DEVELOPMENT SITE FOR SALE

125 Glacier Street Coquitlam

2130 Hartley Avenue Coquitlam

375 Lynn Avenue North Vancouver

2420 & 2450 Ticehurst Lane and 2455 Gately Avenue, Port Coquitlam

16144 - 84th Avenue Surrey

2 units: 15,000 + 16,115 sq ft on 1.34 acres Owner/user opportunity with potential MORTGAGEHELPERsCLEARCEILINGHEIGHT

 SQFTsLOADINGDOORS &ULLYPILEDvREINFORCEDFLOORs#RANES (EAVYPOWERs.EARCASINO

3,600â&#x20AC;&#x201C;11,000 sq ft STRATA units available .EW2IVERFRONTBUILDINGsCEILINGS PHASEPOWERs(IGHWAYPROXIMITY

40,091 sq ft site total &RONTING#OQUITLAM2IVER &32IN/#0

ACRESs-ULTI FAMILYCOMMERCIAL (OLDINGINCOME Asking price $3,995,000.00

Chris McIntyre, Steve Caldwell

Steve Caldwell

Rand Thomson

James Bayley, Chris McIntyre

Tony Capolongo, Stephen Webber

For more information on these and other opportunities please contact our ofďŹ ce or visit our new website Tel: (604) 684-7117

www.dtzvancouver.com

Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent veriďŹ cation. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 01/2011.


A6 Lower Mainland

www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR

$PNNFSDJBMSFBMFTUBUFTOBQTCBDLJO his is our annual ICI (industrial, commercial and institutional) outlook issue, and we must admit right off that we don’t agree with the “steady as she goes ”, “hold the status quo” forecasts that we are hearing from many analysts. We believe that 2011 is going to be a corker for commercial real estate right across Western Canada. Why? Because oil is going to hit US$100 a barrel, copper and potash prices will continue soaring, the forestry industry will recover and agriculture prices – especially grain and beef – will set new record highs. Add to that a decline in new commercial construction over the last two years and the stage is set for a stronger snap back in real estate demand than most expect. Put bluntly, Western Canada is a hewer of commodities that the world demands and the real estate market thrives on. The big boys, such as real estate investment trusts and pension funds, are already deep into Western Canada’s commercial market, taking advantage of rock-bottom prices. We know of a 14-office commercial building with B.C. highway frontage for sale at $200,000. There is former auto dealer lot

5

acreage near Williams Lake that can be had for one-third of its assessed value. Industrial land prices in the Fraser Valley are at threeyear lows and Calgary and Edmonton office space can be grabbed at 2006 prices. Meanwhile lending rates are near historic lows and the Bank of Canada, fixated on struggling Ontario and Quebec, is in no mood to raise the prime rate, now at 1 per cent. This year 40,000 immigrants will arrive in B.C.; Alberta will need to fill 72,000 new jobs; and both Manitoba and Saskatchewan are already attracting record numbers of immigrants and “returnees” to Canada’s fastest growing economies. The population shift westward will become undeniable this year. Our advice: get into Western Canada’s commercial market early, think big and get busy because we have launched into a very happy new year.

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

FRANCHISE OPPORTUNITY

$199,000

Famous International PAPA JOHN’S PIZZA business at core Downtown in Port Coquitlam. Good income & steady clientele. Business can be increased as surrounding the store has been growing with huge new condominium complexes. Easy to run business as full training and support by head office. Good location & ample parking space. Sutton West Coast Realty WILLIAM LEE 604.671.2404 Leew@sutton.com

$033&$5*0/

In the December issue of Western Investor, we presented mistaken or outdated information regarding MPC Intelligence data. MPC is a leading analyst for Metro Vancouver’s new-home market. We reported MPC stating: “10,000 con-

Family

FUN CENTRE

SURREY • Large indoor playground • Bumper cars • Ballocity • Laser tag • Rock climbing walls! • Large party room • Semi-kitchen & food concession Asking $499,000 Call VICTOR or LISA

604-328-8055 Realtors Welcome

dos have started presales this quarter.” MPC actually said: Approximately 10,000 units had been released for presale from April 2010 to October 2010. We reported MPC stating: “There is an estimated 206 newly completed and unsold strata homes in South Surrey, but only 81 new condos have sold there since the start of this year.” MPC says this information was out of date, “when really there has been an estimated 149 low-rise condominiums sold. Since the fall, a number of low-rise projects have discounted and absorption has increased.” We apologize to MPC Intelligence for any misquotations or confusion.

/&95.0/5)

Western Investor presents a report on mixeduse developments, now gaining traction across the West. We tour parking garages, look at takeback mortgage strategies and update suburban office markets. Our regional reporters file from Brandon, Fort McMurray, Sooke and Smithers. Plus we carry all the news and commentary needed by western investors. FRANK O’BRIEN

EDITOR wieditor@biv.com

VANCOUVER

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

ADVERTISING DEADLINE February 2011 issue: January 10, 2010

1955 East Hastings - $1.199 million Freestanding Warehouse – Mixed Use 3000 sq ft Main Level plus 3000 sq ft Lower Level and 3000 sq ft upper storage. Parking, Loading Bays Lot 6100 sq ft – MC-2 Zoning - Residential/Commercial & Light Industrial VENDOR MOTIVATED! Great Opportunity

CHILLIWACK Commercial Strip Mall - $1.7 million 4 Tenants – Net income $104,000 Solid building / Great Location CHILLIWACK 5905 Vedder Rd. $789,000 (Sardis) 6-Plex – 2 bedroom units, gas fireplaces Great location! Won’t Last! CHILLIWACK 46240 Yale Rd. 3 NEW 1000 sq ft Units $199,000 each Perfect for YOUR Business WHY RENT? Call now. CHILLIWACK Laundromat – Business Only $200,000 Turn Key – Owner Operated Nets approx $80,000 per year Financials Available CHILLIWACK 160 Seat Restaurant - $289,000 Assets Only – Going concern Equipment List available Great location. Shadowed by Safeway

WE NEED PROPERTIES NOW!!!!!! DESPERATELY NEEDED: COMMERCIAL/RETAIL SHOPPING CENTRES

We have SERIOUS BUYERS Looking for Investment Property SPORTS BAR COMPONENT

THIS is your opportunity to partner with an accomplished team and proven midscale casual dining concept. Rockwell's has all the right ingredients for you to write your own success story. We're looking for like minded franchises to join Rockwell's as we grow across BC, AB, SK & MB

1 BUYER 2 BUYERS

$2-4 Million $5-20 Million

Matching Serious Sellers with Serious Buyers LINDSEY GAUTHIER

CONTACT US TODAY

rvillalpando@rockwells.ca

Showcase Realty

Cell: 1.604.798.2977 Office: 1.888.355.6771 Lgauthier@sutton.com


Lower Mainland A7

WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com

Vancouver Office 604 687 7331 s

FEATURED LISTING

s

For more information visit our website

www.avisonyoung.com

FEATURED LISTING

FOR SALE – 7770 & 8398 North Fraser Way, Burnaby

FOR SALE – Retail Portfolio

s0RIMEINDUSTRIALDEVELOPMENTSITES s#$--:ONING s,OCATEDINTHE"IG"ENDAREAOF 3OUTH"URNABY s%STABLISHEDINDUSTRIALMARKET

s3ITE!ACRES s3ITE"ACRES    s!SKING$6,196,000 s!SKING$17,604,000 +PIO-FDLZ.BSL)BOOBI.BUU5IPNBT,ZMF#MZUI

4HISOPPORTUNITYHASRETAILPROPERTIES FORSALEWHICHARELOCATEDIN(UMBOLDT 3ASKATCHEWAN 4HOMPSONAND7INKLER -ANITOBA2EQUESTSFOR#ONlDENTIALITY !GREEMENTACCESSTOTHEELECTRONIC DATAROOMSHOULDBEDIRECTEDTO 4IFSSZ$PNUFBUTDPNUF!BZTLDPN &YQSFTTJPOPG*OUFSFTUNVTUCF TVCNJUUFECZ+BOVBSZ  BUQN$45

FOR SALE – 1881 Sumas Way, Abbotsford s(OTELANDRETAILPROPERTY s3TABILIZED./)OF   s3ITUATEDIN!BBOTSFORDHOSPITALITYCORRIDORANDRETAILNODE .BSL)BOOBI3PC(SFFS s.JM .JDIBFM,FFOBO

FOR SALE - 1915 Stainsbury, Vancouver

FOR SALE/LEASE – 1455-1475 East Georgia Street, Vancouver s   3&OFOFlCEWAREHOUSEAVAILABLE s) ,IGHT)NDUSTRIAL:ONING s$OCK'RADELOADING sQTG +PIO-FDLZ4USVBO4BEEMFS SOLD – Tiffany Gardens, 3326 Rock City Road, Nanaimo, BC

FOR SALE – Dalton Hotel - 759 Yates Street, Victoria s0RIMECORNERLOCATIONAT"LANSHARD9ATES E D s3IGNIlCANTINCOMEFROMRETAILCOMPONENT IC C E PRDU s/PPORTUNITYTOALSOACQUIREON SITELIQUORSTORE E R ANDRESTAURANTBUSINESSES   #BM"UXBM.JDIBFM,FFOBO

SO

s5NIT!PARTMENT#OMPLEX s!CRE3ITE s2ENTAL5PSIDE

LD

.BSL)BOOBI3PC(SFFS FOR SALE – 12294 104th Avenue, Surrey s)NDUSTRIALINVESTMENTWITHUPSIDEnGREATCASHmOW s%XCESSLANDFORADDITIONALBUILDINGS s SFONACRES s    .JDIBFM'BSSFMM+PIO&BLJO FOR SALE – 9771 186 Street, Surrey sACRESINPRIME0ORT+ELLSLOCATION s ,IGHT)NDUSTRIALZONING s/UTSIDESTORAGEPERMITTED s     BDSF

 .JDIBFM'BSSFMM+PIO&BLJO FOR SUBLEASE – 2120 Hartley Avenue, Coquitlam s SQUAREFEETOFWAREHOUSESPACE s9ARDSPACEAVAILABLE s#RANES s/PERATINGCOSTSTAXESPSF .JDIBFM"MMFO,ZMF#MZUI FOR LEASE – 320 Terminal Avenue, Vancouver, BC s SFBUILD TO SUITOFlCERETAILBUILDING INDIVIDUALmOORSAVAILABLE s2EADYFOROCCUPANCYLATE s!DJACENTTO-AIN3TREETn3CIENCE7ORLD3KYTRAIN3TATION s#OMPETITIVELEASERATESTENANTINDUCEMENTPACKAGESOFFERED

+PTI4PPLFSP+VTUJO0NJDIJOTLJ LEASE – 12179 86th Street, Surrey

FOR SALE – Royal Towers, 140 - 6th Street, New Westminster, BC s UNITAPTBUILDINGWGROUNDmOORRETAIL s0OTENTIALTOADD SQFTOFADDITIONALDENSITY s0ROMINENTCORNERLOCATIONSPECTACULARVIEWS s/VERMILLIONSPENTINCOMPLETERENOVATION s!NNUAL.ET)NCOME  s1SJDF  

3PC(SFFO.JDIBFM,FFOBO#BM"UXBM

FOR SALE – 144 & 174 176th Street, Surrey s#/524/2$%2%$3!,% s,OCATEDAT0ACIlC(WYTRUCKCROSSING sACRESWITHDEVELOPMENTPOTENTIAL s   .JDIBFM'BSSFMM+PIO&BLJO FOR SALE - 2342 Windsor Street, Abbotsford s -ULTI TENANTORSINGLE USERCONlGURATION s .EWLYLANDSCAPEDANDRENOVATED s  SF7AREHOUSEONACRES s&ENCEDANDPAVEDYARDAREA s   +PIO&BLJO.JDIBFM'BSSFMM FOR SALE – "My Garage" Secure Strata Storage, SE Richmond s#USTOMIZED%XECUTIVESTORAGEFORCOLLECTORCARS MOTORCYCLES26S s0RIDEOFOWNERSHIPnLIKEMINDEDOWNERS s SFn SFOPTIONSAVAILABLE 3PCFSU+(SJUUFO.JDIBFM"MMFO SUBLEASE - 88 West Broadway, Vancouver s  3&!VAILABLE)MMEDIATELY s (IGHVISIBILITYCORNERLOCATIONWITHSIGNAGEEXPOSURE s 1UALITYRETAILIMPROVEMENTS s 3UBLEASEUNTIL!PRIL  .BUU8BMLFS-FOJB$BMJDP

.BOKPU.BUUV

LEASE – 1112 West Pender Street, Vancouver s5NITSFROM  3& s0ROFESSIONALOFlCESPACE s$OWNTOWNAT0ENDERAND4HURLOW s6ERYCOMPETITIVEGROSSRENTS 'FSHVT$BNFSPO

,OCATEDADJACENTTHE'ATEWAY3KY4RAIN3TATION ,%%$'OLD$EVELOPMENT (IGHDENSITY MIXEDUSEZONING 3ITESIZEnAPPROXIMATELY SF *OINT6ENTURE/PPORTUNITY  %BSSFMM)VSTU#JMM&MMJPUU

FOR LEASE – 929 Granville Street, Vancouver s'RANVILLERETAILFORLEASE s-AIN&LOOR4OM,EE-USIC"UILDING s 3&5PTO 3&WITHBASEMENT s(ERITAGEBRICKBUILDINGWITHWOODPOSTBEAMS 'FSHVT$BNFSPO

s5PTO 3&AVAILABLE s,OWOPERATINGCOST03& s/UTSIDESTORAGEPERMITTED s /FUMFBTFSBUF14'  FOR INQUIRIES – Gateway Business Park s s s s s 

s2ECENTLYRENOVATEDTWO STOREYOFlCEBUILDING s3HORTTERMSALELEASEBACKOPPORTUNITY s3IGNIlCANTRESIDENTIALREDEVELOPMENTPOTENTIAL 4USVBO4BEEMFS3PC(SFFS

FOR LEASE – 1550 E. Hastings St, Vancouver s0RIME#OMMERCIAL0ROPERTY s(IGHTRAFlCEXPOSURE s SFSITE FEATURESEXISTINGBUILDING s&ORMER-AZDADEALERSHIP .BSL)BOOBI3PC(SFFS4USVBO4BEEMFS

FOR LEASE – 990 Homer Street, Vancouver s&OURmOORSOF^SFEACHAREAVAILABLE s#HARACTER9ALETOWNOFlCESPACEWITHOPENPLANCEILING s%XTERIORSIGNAGEPOTENTIALFORLARGERTENANTS s,ARGEBASEMENTSTORAGE 'FSHVT$BNFSPO


A8 Lower Mainland/Services

www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR

COMMERCIAL MORTGAGES

COMMERCIAL MORTGAGES

" 5 ) , $ % 2 3 s $ % 6 % , / 0 % 2 3 2 % ! ,4 / 2 3 s ) . 6 % 3 4 / 2 3

ALSO, Industrial, Multi-Residential & Construction

We can arrange

FOR ALL TYPES OF COMMERCIAL PROPERTY:

MORTGAGE FUNDS

- Apartment buildings - Multi-Family & Mixed-Use - Retail/Strata Office/Warehouse - Hotel/Motel - Land acquisition/servicing - Construction/Development Loans

LEAKY CONDO FINANCING Full Building Repairs, Upgrades & Remediation

BUSINESS LOANS

for all your Commercial or Industrial Needs

Acquisitions, Expansion, Equipment & A/R

604-552-4392 www.paramountfinancial.biz Over 12 YEARS in business !

All inquiries to bobw@firstcitizensmortgage.com or phone Bob Williams @ 604-533-8288

6 long term tenants on 1 acre site just off Freeway, Chilliwack, B.C.

• Fast Approval • Purchase or Refinance

The Origin Group — Mike Lee 604-565-6370

1-877-848-6370

Call BILL 604-461-9220

Email: michaellee@origingroup.ca

Mandate Group Realty Corp.

MORTGAGE FINANCING For all your real estate financing needs www.peoplestrust.com BRITISH COLUMBIA REGION

Brian D. Kennedy 604-331-2211

BRITISH COLUMBIA REGION

Jonathan P. Wong 604-331-2218

PRAIRIE REGION

Dennis K. Aitken 403-205-8203

PRAIRIE REGION

Daniel Stewart 403-205-8202

75th Ave

McDow ell Rd

Dysart Rd

Bell Rd

Sun Valley Pkwy

411th

I-10

Professional Service building adj. to Cottonwood Mall fully leased for past 14+ years. Asking price of $2,600,000. & offers triple net income of $165,427 or 6.4% cap rate. Pre-arranged financing for 69% of value - OAC. Offers 10% return invested cash.

Ave


A9

WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com

REGIONAL ROUNDUP Mayor cements nucleus for B.C.â&#x20AC;&#x2122;s second largest â&#x20AC;&#x201C; and fastest growing â&#x20AC;&#x201C; downtown

4VSSFZ¤T$FOUSBM$JUZ SUSAN M. BOYCE WESTERN INVESTOR ow officially designated as Metro Vancouverâ&#x20AC;&#x2122;s second downtown core, the Surrey Central City neighbourhood continues attracting big-time attention from savvy investors, businesses and homebuyers. B.C.â&#x20AC;&#x2122;s second largest and Canadaâ&#x20AC;&#x2122;s 12th largest city, Surrey represents a Cinderella story thatâ&#x20AC;&#x2122;s unanimously acknowledged as the result of a proactive council headed by popular Mayor Dianne Watts.

TOP Surreyâ&#x20AC;&#x2122;s Central City shopping mall: Skytrain links helped create the second largest downtown core in B.C. RIGHT Mayor Dianne Watts and developer Charon Sethi: close co-operation between the city, senior government and the private sector is transforming Surreyâ&#x20AC;&#x2122;s central core.

SFU currently employs 200 full-time staff and faculty plus part-timers to support a student population of 6,000, approximately half of them full time. On December 2, 2010, the new 34,000square-foot Surrey RCMP Annex opened next to the Surrey RCMPâ&#x20AC;&#x2122;s main detachment. Still to come is an 82,000-square-foot division E headquarters that will consolidate services currently scattered inefficiently across the Lower Mainland and replace the outdated, overcrowded facility in Vancouver. The public-private partnership project between the federal government and Green Timbers Accommodation Partners is the largest federal accommodations project in the Pacific Region to date â&#x20AC;&#x201C; for a fixed price of $966 million, Green Timbers

$PODPSENPWFTJO

Photo: Peak Communicators

â&#x20AC;&#x153;Developing a plan is easy, but Mayor Watts and her council create action â&#x20AC;&#x201C; something that is much more difficult,â&#x20AC;? saidBill Rempel, who is the vice-president of the Surrey Business Improvement Association and also the vicepresident of Central City. Like many others, heâ&#x20AC;&#x2122;s delighted by Wattsâ&#x20AC;&#x2122; decision to remain in Surrey rather than move to the provincial political arena. The centrepiece of this evolving urban core will be a $500 million Civic Centre designed with iconic architecture and sustainable design practices. When complete, the project will include a much-needed 180,000-square-foot new city hall, a 1,600-seat performing arts centre plus studio theatre and a $36 million, 77,000-square-foot regional library. Simon Fraser University (SFU) is poised for a 30,000-square-foot, $80 million expansion thanks, in part, to a $10 million federal grant from the Knowledge Infrastructure Program. On schedule for a May 2011 opening, the new space will include lab facilities, research space and offices. Jean Curry, executive director of SFU Surrey, is particularly excited by the growing focus on cutting-edge research including engineering mechantronics â&#x20AC;&#x201C; a combination of mechanical, electrical and computer sciences â&#x20AC;&#x201C; saying the potential entrepreneurial spin-off opportunities of this research alone are huge.

Photo: Bing Thom Architects/Tourism Surrey

/

B.C. history, dramatically improving patient care in Surrey,â&#x20AC;? said then health services minister Kevin Falcon in a prepared announcement. The expansion includes a new critical care tower with expanded emergency department, a new perinatal centre for high-risk newborns, a larger adult intensive care unit and, with the University of British Columbia, an expanded clinical academic campus for Surrey. Additionally, when open in 2011, the new $239 million, 188,000-square-foot outpatient care and surgery centre, the first in B.C. to combine day surgery and diagnostic procedures with specialized health clinics and programs in one building, will significantly reduce congestion and pressure at SMH. Surreyâ&#x20AC;&#x2122;s average monthly growth remains consistent at 1,000 new residents each month â&#x20AC;&#x201C; a number thatâ&#x20AC;&#x2122;s spurring residential construction especially in the multi-family sector. In addition to a number of small-to-medium strata projects, three significant projects are in various stages.

Accommodations Partners will design, build, finance and maintain the facility for a 25-year term after completion in December 2012. An anticipated 2,700 jobs will come to Surrey once the facility is open. In October, Integrated Team Solutions became the preferred proponent for a long overdue expansion to the Surrey Memorial Hospital (SMH). â&#x20AC;&#x153;This project will represent the single largest health capital investment in

Arguably the most ambitious is Concord Pacificâ&#x20AC;&#x2122;s acquisition of the troubled Jung Development Inc. project located on Whalley Boulevard. Ultimately to be a five-tower master planned community of almost 3,000 homes, the project was renamed Park Place. A new focus on affordability, amenities (including Surreyâ&#x20AC;&#x2122;s first on-site residential bowling lane) and intelligent floor plans paid off: investors and first-time buyers responded. â&#x20AC;&#x153;Within four weeks of opening our on-site presentation centre, weâ&#x20AC;&#x2122;d sold 90 per cent of the first tower, and a huge number of people had already registered for Two Park Place,â&#x20AC;? said marketing manager Peter Udzenija. â&#x20AC;&#x153;Concord is a very astute developer,â&#x20AC;? Rempel noted. â&#x20AC;&#x153;There are probably plenty of people who now wish theyâ&#x20AC;&#x2122;d bought the old Expo lands, but the reality is that only Concord had the vision. When a developer of this stature and experience gets on board, you know itâ&#x20AC;&#x2122;s going to drive growth.â&#x20AC;?

Please see Vision page A10

-PXFS.BJOMBOE

PUBS

For Sal e

BUILDERS

SOUTH OKANAGAN PUB Liquor Store and Building for sale Asking $1.9 M

sUNITTOWNHOUSESITE ,ANGLEY

NORTHERN BC PUB Land and Building opportunity Offered at $950,000

s2OWHOMELOTS ,ANGLEY sACRESDEVSITE ALL APPLICATIONSIN 2EADYTOBUILDFALL  sUNITTOWNHOUSESITE -APLE2IDGE

MOTELS Call for your free 3 month trial subscription of Western Canadaâ&#x20AC;&#x2122;s Commercial Real Estate & Business Opportunities publication ...The Western Investor.

LOWER MAINLAND Pub & Liquor Store

Opportunities For Lower Mainland Pub Opportunities call:

For information on subscriptions and advertising

JOHN JOHNSON

1-800-661-6988

Tel: 604-319-2504 Fax: 604-463-5287

media kit on-line: www.westerninvestor.net

PRUDENTIAL STERLING REALTY LTD.

sCOMPLEXESIN3URREY MILEACH

WANTED s3MALL"#MINI STORAGE UPTOMIL RAY LEWIS

JOHN JOHNSON

West Coast Realty Langley

604-812-9733


A10 Lower Mainland

34 Acres for blueberry or raspberry close to 264 St border in USA. $375K Great income 16.44 acres blueberry farm with new 7200 SF house, 5 BR and 1 kitch + 1 spice kitch each ďŹ&#x201A;oor, setup for 2 family plus 2nd house have potential income only $2,700,000.00

AMARJIT GILL 604-614-7101 Global Force Realty FOR SALE

I-2 INDUSTRIAL PROPERTY RICHMOND Next to Knight Street Bridge 3.796 Acres w 60,000SF BUILDING $5,500,000

FOR SUB-RELEASE NORTH VANCOUVER 1503 SF OFFICE SPACE. Reduced to $8 NNN $10 per SF 3 yr term.

ALEX YUEN 604-338-1800 alex@macrealty .com Macdonald Realty Ltd.

However, Watts stresses itâ&#x20AC;&#x2122;s not business alone that makes a city strong. â&#x20AC;&#x153;It is essential for us to support the quality of life for the families who live here,â&#x20AC;? she said, noting one-third of Surreyâ&#x20AC;&#x2122;s current population is below the age of 25. In addition to more than 400 parks, the city boasts more artificial turf playing fields than any other municipality in the province. The recently completed Chuck Bailey Recreation Centre, initially a Games Preparation Centre for the 2010 Winter Olympic Games, has now been adapted as a public 20,000-square-foot recreational centre featuring a gymnasium, youth lounge, preschool area and multi-purpose space. One particularly innovative example of her commitment to family is the recently approved covered youth park â&#x20AC;&#x201C; the only one of its kind in B.C. To be located adjacent to the Chuck Bailey Recreation Centre, it includes a skate park, ball-hockey court, pathways and rain gardens. â&#x20AC;&#x153;We are committed to creating new oppor-

LIQUOR STORES, PUBS, HOTELS/MOTELS #SJOHBMM0GGFST

Lac La Biche, AB â&#x20AC;&#x201C; 58 pads, 157acres ..... 3,000,000 Brooks, AB â&#x20AC;&#x201C; 28 pads, 16.75 acres .......... 1,100,000

:PVOHQPQVMBUJPO

FRASER VALLEY â&#x20AC;&#x201C; 200 seat Pub/Restaurant â&#x20AC;&#x201C; better than new â&#x20AC;&#x201C; sits on 1.35 acres. A must see ! $2,600,000 ASSET SALE. Offered less than replacement cost.

Cherryville, BC â&#x20AC;&#x201C; 25 pads, 22 acres.............. 750,000 Langenburg, SK â&#x20AC;&#x201C; 60 pads, 14 acres ............ 525,000 Houston, BC - MH & RV Park, 40 ac+/- ....... 399,000

Toll Free: 1-888-251-2822 Direct: 604-302-3771 Fax: 1-888-804-1394 Email: hjesse@mobileparks.com www.mobileparks.com

Homelife Glenayre Realty

Attention Homelife Agents: TO ADVERTISE

HERE call Gary Takahashi

QUEENS HOTEL & LIQUOR STORE on 110,000 sq ft zoned Hi-Rise C-7 in the heart of Queensborough Super Development Site. 26 rooms. All totally redone. OFFERS! NANAIMO ROAD HOUSE & LIQUOR STORE â&#x20AC;&#x201C; $1,050,000 2½ acres. Land & buildings. Priced @ 1 x gross sales. Asset sale. Includes 2 suites. PRICED TO SELL MAPLE RIDGE PUB & LIQUOR STORE $4 MILLION NETS OVER $700,000. WILL SELL SEPARATELY. NEW WESTMINSTER PUB & LIQUOR STORE $2,950,000 (SHARE SALE) CHILLIWACK â&#x20AC;&#x201C; PUB & LIQUOR STORE & RESTAURANT excellent money maker $2,500,000 Great lease. SELLER MOTIVATED! TRY YOUR OFFER! SURREY PUB & LIQUOR STORE â&#x20AC;&#x201C; Money maker. $2,100,000. LEASE PREMISE. SHARE SALE. QUEENSBOROUGH DEVELOPMENT PROPERTY â&#x20AC;&#x201C; Many options â&#x20AC;&#x201C; cleared land, approx 34,000 sq ft â&#x20AC;&#x201C; zoned commercial/residential. 3 PROPERTIES - OFFERS! UNDER $50.00 PER SQ FT. BURNABY PUB & LIQUOR STORE â&#x20AC;&#x201C; Land & Bldgs. - Future Development Potential $6,900,000 SURREY PUB IN BUSY SHOPPING CENTRE - Asking $600,000 GREAT TERMS.

NEIGHBOURHOOD LIQUOR STORES - PUBS - HOTELS - RESTAURANTS IF WE DONâ&#x20AC;&#x2122;T HAVE IT LISTED WE WILL FIND IT FOR YOU! MANY NEIGHBORHOOD PUBS IN ALL PRICE RANGES NOW AVAILABLE.

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

BARRY BOCK / DON KAYTOR Phone HOMELIFE BENCHMARK TITUS REALTY

604-575-5262

Phone

604-576-9285

Fax (604) 575-2214 Email: barry_bock@telus.net Website: www.barrybock.com

www.homelifebc.com

 2VJDLGBDUT

New Westminster Vancouver

1

SURREY

99A

1A 99

Langley White Rock

4VSSFZ #$ Population 400,000 Central average detached house price $506,000 Central average condominium price $220,000 Under construction $500 million Civic Centre; SFU expansion; new RCMP headquarters

tunities for our youth to participate in healthy activities,â&#x20AC;? Watts said. Other Surrey firsts include a $25,000 City of Surrey Fire Research Endowment, the first scholarship fund in B.C. specifically supporting public safety research and the opening of Surreyâ&#x20AC;&#x2122;s second hydrogen fuelling station at the operations works yard, making this the only Canadian city with hydrogen fuelling.â&#x2014;&#x2020;

www.westerninvestor.com

31 Acres approximately 15 year old Blueberry farm with 8 bed room house last year berry was around 250,000.00 asking $3,500,000.00

Once again making news, in September the Tein Sher Group of Companies acquired an additional two acres for its Quattro project in the Central Surrey area, bringing the total acreage to 12 and making this one of the largest multi-family communities in Metro Vancouver. Four years ago the project made headlines when it sold 116 suites in 67 minutes on opening day. When an arsonistâ&#x20AC;&#x2122;s fire destroyed the underconstruction Quattro2 and damaged the almost complete Quattro1 in 2008, principal Charan Sethi rebuilt not only the two buildings but consumersâ&#x20AC;&#x2122; good will, returning all down payments with interest. The project relaunched in spring 2010, and the third tower commenced sales in September 2010. More than half the homes here are priced under $200,000 â&#x20AC;&#x201C; some as low as $150,000 â&#x20AC;&#x201C; once again making this an attractive option for investors and first-time buyers. Sethi anticipates total build-out value of the Quattro neighbourhood will approach $750 million. After construction stalled in 2007, Weststone Propertiesâ&#x20AC;&#x2122; Urban Village is now quietly selling Ultra, its third tower, with virtually no marketing. â&#x20AC;&#x153;Weâ&#x20AC;&#x2122;ve sold close to $5 million worth of homes here in the last six months â&#x20AC;&#x201C; 150 of the 373 total units,â&#x20AC;? said Bob Dominick, vicepresident of sales and marketing. â&#x20AC;&#x153;We have now met the level of sales required for our pre-construction financing. The site is closed

while we arrange financing and obtain a building permit, and we anticipate breaking ground early in 2011.â&#x20AC;? Future plans for Urban Village include two more phases of low- and high-rise residences, townhouses, as well as, ideally, a neighbourhood commercial component with convenience store and services. When complete, he anticipates the project will bring between 2,500 and 3,000 homes to the area at an investment of close to $1 billion.

1-800-661-6988

Great investment 19.75 Acres is Zoned for 1 acre, new Sewer Line is only a couple blocks away, potential income 10,000 SF warehouse with 3 cooler and 5 BDRM older house only $3,999,000.00.

7*4*0/from A9 *OWFTUPSDPOEPT

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INVESTOR ALERT

www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR


WESTERN INVESTOR JANUARY 2011

Lower Mainland/BusinessOpportunities A11 FUNDING AVAILABLE

LIST

Criteria:

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

1-800-661-6988

OWNERSHIP OPPORTUNITY – BUILDING SUPPLY STORE IN BC –

> up to 80 km from White Rock > manufacturing or marine

Own your own IRLY Building Centre dealership. We are seeking entrepreneurs to be part of BC’s largest building materials and hardware chain. We offer advertising, computer & merchandising support. New and existing locations. Partnership opportunities available. Dealer - owned co-op. Receive rebates & patronage dividends.

White Rock businessman

Contact Brad Dixon or Susan Robinson @ 1-800-663-3342swww.irlybird.com

604-838-0985

Macdonald Commercial R.E.S. Ltd FOR SALE n/Cambie Corridor; • 201 – 217 W 6th Ave., Vancouver | Corner property, Main/Cambie ed; ideal for investor 18,989 Sq. Ft., 2 storey building; 14,719 Sq. Ft. site; I – 1 Zoned; or owner occupier.

SOLD

FOR LEASE • Prime Kerrisdale retail space on 2100 block, West 41st Ave. | 5,395 Sq. Ft. Eric Poon | 604.714.4768 | www.EricPoonCommercial.com

FOR SALE – KAMLOOPS/67 ROOM FULL SERVICE BOUTIQUE HOTEL • Call for details FOR SALE – WATERFRONT DEVELOPMENT SITE • Harrison Hot Springs / Harrison Lake • Opportunity to build 4 storey / 25 units • 138 Ft. of frontage / 26,310 Sq. Ft. site • Asking $2,580,000 Brian Tattrie | 604.714.4783 | btattrie@telus.net | www.BrianTattrie.com APARTMENT BUILDINGS & DEVELOPMENT SITES FOR SALE www.GOODMANREPORT.com

• 22 units Mt. Pleasant, beautiful building (New Listing) • Prime 1 Acre Waterfront, Harrison Hot Springs (Condo Development Site) • Prime 1 Acre across from Skytrain, North Surrey (Development Site) • 11 units Mount Pleasant (5 - 1-bedroom; 6 - 2-bedroom) | Asking $2,095,000 UNDER CONTRACT • 16 Units, Port Alberni, Reduced to $1,797,000 (6.3% Cap) RECENT SOLD • 19 Units, Metrotown For complete information packages including pictures & financials, view online: www.GOODMANREPORT.com

Are you the type of person who is community-minded, knows the value of excellent customer service, and enjoys interaction with other people? Then, we would like to offer you a turnkey package, complete with proven operating system, full training, and on-going support. You’ll meet the nicest people as you operate your business “handson”. We have been in operation since 1980 and have over 460 stores across Canada. If having a business of your own with the support of a successful franchise is of interest to you, please call Bonnie Armstrong at the Western Regional Office for more information 1-800-661-7682 (ext 270) or visit our website at www.franchise.mmmeatshops.com

Coronation West Realty

GLENN

Personal Real Estate Corporation

YAMADA

CELL: 604-240-2749 EMAIL:

g-yamada@shaw.ca

Condo Site $2.3M

BOARDING KENNELS for dogs and cats, established in 1970. Excellent reputation, profitable, very clean and well managed kennels. Price includes 5 manicured acres of land in Surrey BC. 2000 s.f. house, and office, rooms for 51 dogs and 19 cats. Asking Price $1.5M HOTEL GIFT STORE CHAIN 5 units, specializing in distinctive quality Canadian gifts, collections and carvings which are the finest in Canada. Very profitable, and well established for many years located in prestigious major hotels in B.C. Price of $749K includes $500K inventory DON CHERRY’S BAR & GRILL property and business, completely remodelled 2010, near new kitchen equipment, strong sales history, located in high development area of Maple Ridge BC, dining 100 seats plus 60 in bar and 28 patio seats. Asking for property and business $1.5M SURE SLIM FRANCHISE B.C. International franchised wellness clinic specialising in controlled weight loss and healthy style living. Located in Langley B.C. Well established profitable business with great potential for further growth for the new owner, Full training provided. Asking $179K

DIRECT: 604-725-4406

604-572-1008 COMMERCIAL SPECIALIST www.planetgrouprealty.com

SOLD

UÊ,‡{]ÊÓÇÊ՘ˆÌÃ]Ê6>˜VœÕÛiÀÊ >ÃÌ

NEW !!ÊÊGloucester Estates, 1.6 acres - $1.45M UÊÓÇÓÈxʏœÕViÃÌiÀÊ7>ÞʇÊ-Ê6{äÓÓ££x SOLD UÊӇÊ✘ˆ˜}]ʏiÛiÊœÌ]Ê>ÊÃiÀۈViÃÊ>ÌʏœÌʏˆ˜i FOR LEASE

NEW !!ÊÊ3,000 SF 2nd floor space UÊ ÕÀÀi˜ÌÞÊ>Ê >˜ViÊ-ÌÕ`ˆœÊÉÊ«iÀviVÌÊvœÀÊ>À̈>ÊÀÌà UÊ É/Ê*œÀÌÊ œµÕˆÌ>“ÊqÊ««ÀœÝ°Êf{]äääÊœ°ÊÀœÃÃÊÀi˜Ì BUSINESSES, LAND & BUILDING

Waste Disposal Business

SOLD

$4 Mil.

UÊ->iÃÊf™Êˆˆœ˜Ê

Thinking of selling your Business?? Give me a call. I’ll be happy to sit down with you and evaluate your Business.

BOTIQUE WINERY located in prestigious South Surrey BC on 14 acres, fully irrigated pastoral farm land along side of the winding Serpentine River. Grape varieties planted in 1992, includes retail sales bldg and production bldgs. Asking Price $2.9M (REDUCED)

PERSONAL REAL ESTATE CORPORATION

LAND DEVELOPMENT

Vancouver 604.736.5611 | Fraser Valley 604.590.2444 | www.macdonaldcommercial.com

WORLD CLASS RESTAURANT located on the beach in White Rock, BC, featuring West coast cuisine, top line new equipment in the perfectly designed kitchen, stunning interior with sweeping ocean view. Totally turnkey operation. A must see for the professional restaurateur. $599K

BALJIT KOCHHAR

COMMERCIAL AND RESIDENTIAL REAL ESTATE SINCE 1989

Wayne Hampton | whampton@shaw.ca or Dennis Germyn | germyn@shaw.ca 604.590.2444 | www.investmentcanada.biz

BUSINESSES / PROPERTY FOR SALE

> sales 5 to 250 MM

In Western Canada

Pub, Land and Building $2.7 Mil. SOLD NEW!!ÊGreek Mediterranean Restaurant $450K UÊ->iÃÊf£Ê“ˆˆœ˜ÊÉÊ iÌÊ̜ʜܘiÀÊfÓxä UÊ >«>VˆÌÞʇÊÇxÊ«ÕÃÊ£nÊ«>̈œÊ܈̅ʈµÕœÀʈVi˜Ãi UÊ/Àˆ‡Ê ˆÌˆiÃÊ>Ài>Ê‡Ê œ˜vˆ`i˜Ìˆ>ˆÌÞÊ>ʓÕÃ̰ʘvœÊ«Ž}°Ê>Û>ˆ>Li NEW!! MEAT AND DELI SHOP $229K UÊ-Õ«iÀÊÌÕÀ˜‡ŽiÞÊLÕðÊ܅iÀiÊ̅œÃiÊ܅œÊœ˜ÞÊÜ>˜ÌÊ̅iÊLiÃÌÊ}œ UÊ/Àˆ‡VˆÌˆiÃÊ>Ài>ʇÊ}Ài>ÌʏœV>̈œ˜ÊÉʓˆ˜ˆ“>ÊVœ“«ï̈œ˜ UÊ ÃÌ>LˆÃ…i`Ê£ÓÊÞÀðʘÛi˜ÌœÀÞÊ "/ʈ˜VÕ`i`Ê­fÎä® UÊ->iÃÊfÈääÊÉÊ iÌÊ̜ʜܘiÀÊf£Óä°Ê˜vœÊ«Ž}°Ê>Û>ˆ>Li NEW!! MEAT AND DELI SHOP $59K UÊ/Àˆ‡VˆÌˆiÃÊ>Ài>ÊÃÕÀÀœÕ˜`i`ÊLÞʘiÜʅˆ}…Ê`i˜ÃˆÌÞÊVœ˜`œÃ UÊ£°xÊÞi>ÀÃʜ`]ʏœV>Ìi`ʈ˜Ê>ʘiÜÊÃÌÀ>Ì>ÊÀiÌ>ˆÊ՘ˆÌ UʘÛiÃ̜ÀɜܘiÀʅ>`Ê̜ÊÀi«œÃÃiÃÃÊ̅iÊLÕȘiÃÃʙʓœ˜Ì…ÃÊ>}œ UÊÈʓœ˜Ì…ÊÃ>iÃʇÊfnnÊÉʘÛi˜ÌœÀÞÊ "/ʈ˜VÕ`i` UÊÀi>ÌÊÌÕÀ˜‡ŽiÞÊLÕȘiÃÃʜ««œÀÌ՘ˆÌÞÊvœÀÊ̅iÊÀˆ}…ÌÊ«iÀܘ NEW!! CARIBBEAN PIZZA & RESTAURANT $59,900 UÊÊ{nÊÃi>ÌÊÀiÃÌ>ÕÀ>˜ÌÊ܈̅ʈµÕœÀʏˆVi˜ViÊÊÊÊÊÊÊÊÊÊ Ê UÊÊ µÕˆ«°Êˆ˜V°ÊÜ>Ž‡ˆ˜ÊVœœiÀ]Ê}Àˆ]Êǽʅœœ`Êv>˜]ÊiÌV°Ê UÊÊÀi>ÌʏœV>̈œ˜Ê‡Ê6>˜V°Ê >ÃÌÊ>Ã̈˜}ÃÊ-Ì°Ê Ê UÊÊ >ÃÞÊ̜ÊV…>˜}iÊvœœ`ÊÛi˜ÕiʇÊi°}°Ê/>«>ÃÊ >À NEW !! HAIR AND BODY SPA $42K UÊÊ œµÕˆÌ>“]Ê ÃÌ°ÊxÊÞÀðÊ"ܘiÀÊÜ>˜ÌÃÊ̜ÊÀïÀi]ÊÊÊÊÊÊÊÊÊÊÊÊ UÊÊ6iÀÞʘˆViÞÊÀi˜œ½`]Ê{ÊÃÌޏˆÃÌÊÃÌ>̈œ˜Ã]ÊÎÊë>ÊÀœœ“Ã]ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ UÊÊ i܏ÞÊw˜ˆÃ…i`ÊÜiLÊÈÌiʈ˜VÕ`i`Ê UÊÊ£]ǙnÊ-]ÊÀœÃÃÊÀi˜ÌÊfÎ{Ê­fÓ]n{äʓœ˜Ì…®ÊEÊ-/ UÊÊÎÊÞÀÊ>ÛiÀ>}iÊ}ÀœÃÃÊfÓxx]Ê{ÊÞÀÊ>ÛiÀ>}iʘiÌÊfxÓ UÊÊÓÊÃÌޏˆÃÌÃÊEÊ£ÊiÃ̅ïVˆ>˜ÊÉʘÛi˜ÌœÀÞʘœÌʈ˜VÕ`i`

David/Mark Goodman | 604.736.5611 | mark@goodmanreport.com

> no restaurants or retail

UNIQUE FRANCHISING OPPORTUNITIES

FOR SALE – STRATA RETAIL OPPORTUNITY/FULLY TENANTED 555 North Road, Coquitlam BC • Currently 100% leased to six tenants • 4 commercial strata lots • 24 parking stalls • Available either Individual or Bulk sale • Across from Lougheed Town Centre FOR SALE – 107 UNIT SRO/3 LIQUOR LICENSES/CORNER LOCATION • Call for details / UNDER CONTRACT

VIEW ALL LISTINGS AT

> established min 5 years with at least 2 yrs profitable

COMMERCIAL SHOPPING CENTRE – SURREY ASKING $14,000,000 Potential net income $550,000. Re-zoning in progress for 3 towers up to 25 storeys high. Good income while waiting for re-zoning process to complete.

NEW LISTING - $8,500,000 APPROX 9.9 ACRES IL ZONING – SURREY Truck parking facility approved and zoned from the city permanently. 202 trucks can be parked. Truck repair, truck wash facility, plus 4000 sf office space. Brand new building total 11,000 sf. Once in a lifetime opportunity.

MOTEL FOR SALE VALEMOUNT, BC TOTAL INVESTMENT - $4,750,000 3 –in-1 business opportunity A: 72 unit Motel B: 186 seat Restaurant C: 4 Building lots vacant for condo or strata title Hotel Call for package

NEW LISTING – ASKING $3,500,000 51 UNIT TOWNHOME SITE IN MAPLE RIDGE 3rd reading complete. 4th reading ongoing. Ready to build in 90 days.3 acre site with 77,000 sq ft buildable area.

NEW LISTING 32 UNIT TOWNHOME SITE – SURREY TOTAL INVESTMENT- $2,900,000 3RD reading complete. 2.2 acres. Detailed package available

NEW LISTING – FOR SALE BANQUET HALL IN ABBOTSFORD BUSINESS PLUS PROPERTY TOTAL INVESTMENT - $2,850,000 Land size 23,870, Building 10,000 sq ft 500 seat capacity or more. Lots of parking. Central location. Updated in 2004.


A12 Lower Mainland

www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR

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

NEW WEST WAREHOUSE

BURNABY OFFICE/RETAIL

s 3& s2OYAL!VE%XPOSURE s!PPLIANCE&URNITURE$ANCEUSES $2,400 / Month

s   3& s0RIME,OUGHEED.2OADCORNER s 03&.ET

COQUITLAM OFFICE

NEW WEST OFFICE

s0ROFESSIONALCENTRE s  SQFT s.EAR3KYTRAIN

E s 3& SAL s4ENANTEDUNTIL&EB $839,000

ASE

/LE

VANCOUVER EAST – WELL BELOW REPLACEMENT s.EAR'EORGIA6IADUCTON-AIN3TREET s STOREYSOLIDCONCRETEBUILDING s/VER SQFTOFlCES sRENTALPARKINGSTALLS sSQFTFULLBASEMENT s SQFTGROUNDRETAIL s,OTSIZEXREVITALIZINGAREA sAsking $7.8 Million

BILL HAMILTON 604-524-3641, x305

RICK LUI 604-644-6182

bill@naicommercial.ca

rick@naicommercial.ca

PENTICTON, BC – FOR SALE

ARRAN HOUSE – 2902 SOUTH MAIN STREET SUITES BUILT SENIORSBUILDING

TWOELEVATORS NEWROOF ASSUMABLEMORTGAGE

Asking $7,500,000 PRINCE GEORGE, BC – FOR SALE

www.naibusinesses.ca LOWER MAINLAND MILLWORK

VANCOUVER DINNER CRUISE BUSINESS NEW LISTING

s!WARDWINNINGARCHITECTURALMILLWORKBUSINESS s-AJORCLIENTSIN#ANADAAND53! s%MPLOYSLATESTCOMPUTERIZEDTECHNOLOGY s%ARNINGSFORECASTINEXCESSOF 

s)NBUSINESSFOROVERYEARS s/PERATESTWOCHARTERYACHTSFROM$OWNTOWNMARINA s9ACHTVALUEAPPROXs'OODMOORAGELEASEINPLACE s%")4$! 

$2,000,000 incl. equip & working cap

$2,500,000 incl. yachts and moorage FRASER VALLEY EXCAVATION BUSINESS

OKANAGAN CATTLE RANCH s!CRESRANCHLOCATEDNEAR+EREMEOS "# sMANUFACTUREDHOMES HAYBARNS HORSEBARN PUMPSHED ANDEQUIPMENTSHOPWITHSUITE s7ATERLICENSEANDGRAZINGLICENSEFOR!5-

$2,450,000 excl. equip & livestock

s)NBUSINESSFORMORETHANYEARS s3PECIALIZINGINCOMMERCIAL INDUSTRIALMULTI HOUSING s%XTENSIVEEQUIPMENTLISTVALUEDOVER  s6ENDORlNANCINGAVAILABLE s,EASEORBUYPROPERTY

770 EAST HIGHWAY 16 sACRESNEXTTO ACRE!IRPORT,OGISTICS$EV0ARK s'RAVELEXTRACTUPTOMILLIONMETRES PERMITS s,ONGTERMBUILDOUTWPRISTINEVIEWSOF0RINCE'EORGE

Asking $4,750,000 ARMSTRONG, BC – FOR SALE

$900,000 incl. equipment

OKANAGAN BUTCHER SHOP & DELI sYEARSINBUSINESSs7ELLAPPOINTEDANDFULLYEQUIPPED s%XCELLENTLOCATIONWITHPARKING s%XCELLENTLEASEINPLACE s%")4$! 

$650,000 plus inventory

Happy New Year from Alf and Delon

3360 WOOD AVE., ARMSTRONG sSUITESONES TWOS BACHELOR s  SQFTLOT NEWROOFsMINUTES.ORTHOF6ERNON

Asking $1,325,000 LOWER MAINLAND METAL FABRICATING COMPANY REDUCED s7ELLESTABLISHED,OWER-AINLANDBUSINESS s3TRONGEARNINGSHISTORYANDHEALTHYMARGINS s3PECIALIZINGINSHEETMETALALUMINUMFORCONSTRUCTION

$2,400,000 incl. equipment & inventory

VANCOUVER BEARD PAPA FRANCHISE REDUCED

PRINCE GEORGE, BC – FOR SALE

s.EWLYOPENEDFRANCHISEOPERATION s/PPORTUNITYTOBUYATAFRACTIONOFFRANCHISESTARTUPCOST s)DEALOWNEROPERATORBUSINESS s'REATPOTENTIAL

$110,000 incl. equip LOWER MAINLAND HAIR & BEAUTY SALON REDUCED

LOWER MAINLAND METAL FABRICATING s3TRUCTURALSTEELMANUFACTURING s3PECIALIZINGINSEISMICUPGRADES s/VERYEARSINBUSINESSWITHLIMITEDCOMPETITION

s/VERYEARSINBUSINESS s&ULLSERVICEBEAUTYSALON sSTATIONS WAXINGROOMS TANNINGMACHINE s,ONGTERMSTAFF s2EVENUEINEXCESSOF 

$590,000 incl. equipment

$288,000 plus inventory

ALF SANDERSON 604-691-6646

DELON CHEUNG 604-691-6654

alf@naicommercial .ca

delon@naicommercial .ca

B U S I N E S S E S FO R S A L E BLUEBERRY FARM (Abbotsford) 3ITUATEDONPRIME-ATSQUImATS4HISWELL MAINTAINEDFARMWITHNEW SQFTHOUSEOFFERSMATURE"LUECROPAND$UCE3ET UPFORMACHINEPICK#OMPLETEDRIPIRRIGATIONSYSTEM ....................................$2.1mil JEWELERY STORE – VANCOUVER 6ERYWELLKNOWNSTOREINBUSY6ANCOU VERSSHOPPINGDISTRICT,OWRENT0ROlTOF ............................ $480,000 + Inv. CURRENCY EXCHANGE (Surrey) 0ROlTABLE  YEARS WITH THE CURRENT OWNER SQFT BUSINESS LOCATED AT THE BUSY ROAD 'OOD LEASE AND EASY PARKING ..........................................................................................................................$150,000 RESIDENTIAL INVESTMENT (Vancouver) 0RIME +ITS 0OINT SQFT HALFDUPLEXWITHSQFTPATIO5NOBSTRUCTEDVIEWOF6ANIER0ARK ANDHIGHCEILING CROWN MOLDINGS AND SOLID MAPLE HARDWOOD mOORS#OULD BE LEASED AT MONTH .......................................................................................................................... ...$1.38M FURNITURE AND HOME DECORATION (Lower Mainland) #USTOM DESIGN FURNITURE AND HOME ACCESSORIES RETAIL STORE 3ELLING FURNITURE DESIGNBYVERYWELLKNOWSLOCALFURNITURE&ACTORY4HEYCARRYLINEFORHOMEANDCOM MERCIALUSE0ERFECTBUSINESSFORINTERIORDESIGNER$178,000 + Inv. RESTAURANT & PROPERTY (Princeton BC) 0OPULAR2ESTAURANTWITH FULLLIQUORLICENSEANDTENANTEDLIVINGACCOMMODATIONUP STAIRS ............. $498,000 COFFEE FRANCHISE (Richmond) /NEOFTHEBESTINAVERYATTRACTIVEBUSY AREA0ROlTABLEWITHLONGLEASE ........................................................ $283,000 + Inv. EURO DELI (Coquiltam) 7ELL ESTABLISHEDPROlTABLEDELICATESSENWITHSMOKE HOUSE'OODLEASE .......................................................Assets $183,000 plus Inv.

ELIZABETH WOZNICZKO 604-691-6648 elizabeth@naicommercial.ca

COURT ORDERED SALES Best Western Inns & Suites, Tumbler Ridge BC sSTOREY UNITHOTEL s SQFTCONFERENCECENTRE sSEAT LICENSEDFURNISHED RESTAURANT s# ZONINGn4RAVEL#OMMERCIAL sPrice: $7,500,000 397 Acre Development Site, Sechelt BC s:ONED#$ MIXEDUSERESIDENTIAL COMMERCIAL RECREATIONAL s!PPROXIMATELY FEETOFWATERFRONTON0ORPOISE"AY s Price: $22,250,000 459.1 Acre Development Site, Cranbrook BC s:ONED#$ 5( 2ALLOWINGFORLOWMEDIUMDENSITY RESIDENTIAL s3URROUNDING'ARY0LAYERDESIGNEDGOLFCOURSE sPrice: $17,000,000 0.82 Acre Light Industrial Lot, Squamish BC s:ONEDL  ALLOWINGFORINDUSTRIAL RETAILANDCOMMERCIALUSE sPrice: $450,000 165 Acre Development Site, Abbotsford BC s3EVENPARCELSTOTALINGACRES sPrice Reduced: $17,500,000

251 Units – 2 Properties

ACREMAINLYBEDROOM UPGRADES ROOFS BOILER MOSTSUITES ETC PERSUITE Asking $11,000,000

PETER SEED 604-691-6608

CHRIS WIESER 604-691-6662

INDUSTRIAL & DEVELOPMENT SITES 29,800 sq.ft. Waterfront Development Site, White Rock BC s:ONED#3  ALLOWINGFORRESIDENTIAL RETAIL ORTOURISTUSE s&32FORATOTALBUILDABLEOF SQFT sUnder Contract 9.77 Acre Industrial Site, New Westminster BC s:ONED- HEAVYINDUSTRIALWITH SQFTWAREHOUSE s!CCESSTOBOTH7ESTMINSTERAND(IGHWAYS sPrice: $10,000,000 1.82 Acre Multi Family Development Site, Sechelt BC sACRESITEIN$OWNTOWN3ECHELT s0LANNEDFORTOWNHOUSEANDCONDOUNITS sPrice: $2,000,000 6.17 High Exposure Highway Site sACRESONTHESEATOSKYNEXTTOh4HE#HIEFv sPrice: $3,000,000! 12,000 sq.ft. Strata Office/Warehouse, Richmond BC s:ONED  ALLOWINGFORINDUSTRIAL RECREATIONAL COMMUNITY

ANDEDUCATIONALUSE sPrice: $1,695,000

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

Committed to Canada. Connected to the World.


Lower Mainland A13

WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com

FORECLOSURE PROPERTY 1795 FIR ROAD, AGASSIZ

COURT ORDERED SALE. 20.7 Acre former dog kennel operation. Property includes 3,223 sqft 3 bedroom home, horse barn and dog kennel. Dog Kennel was built in 2008 and contains 100 kennels with outside runs, two loading bays, office/grooming room, laundry and washroom. 900 sqft upper mezzanine includes 2 large rooms. $975,000

Gord Houweling

Your Britsh Columbia Agricultrual Connection Cell: 604-793-8660 â&#x20AC;˘ Toll Free 888-852-AGRI (2474) â&#x20AC;˘ info@farmrealtor.ca

INVESTMENT PROPERTY

RICHMOND LOTS

1822 CLEARBROOK RD, ABBOTSFORD

CLEARBROOK EXCHANGE. Small home on 2.91 Acres located on the Southeast side of the Clearbrook Exchange. Excellent holding property! Call today for your complete information package. $1,388,000

9 lots of land only available in Richmond, B.C. Near Granville Ave and Wesminster Hwy. No access lots, in the ALR. Excellent holding opportunity!

CLOVERDALE LOTS

CATTLE RANCH

ONLY 7 LOTS LEFT!

13 ALLCOCK RD, QUESNEL

THE MK RANCH. The MK Ranch is located on the Fraser River with 2 ½ miles of river frontage, located 18 miles by road Northeast of Quesnel, B.C. The ranch is 651 deeded acres on 5 titles, 622 acres of Crown leased land, a total of 1273 Acres. Excellent 3 bedroom home and large barn. Full line of equipment included. $1,700,000

18660 51B AVE â&#x20AC;˘ 3.734 ACRES â&#x20AC;˘ $317,000 â&#x20AC;˘ MLS# F2901944 18724 51B AVE â&#x20AC;˘ 4.301 ACRES â&#x20AC;˘ $365,000 â&#x20AC;˘ MLS# F2901948 18754 51B AVE â&#x20AC;˘ 4.701 ACRES â&#x20AC;˘ $399,000 â&#x20AC;˘ MLS# F2901940 5053 188TH ST â&#x20AC;˘ 7.791 ACRES â&#x20AC;˘ $584,000 â&#x20AC;˘ MLS# F2901938 18724 COLEBROOK RD â&#x20AC;˘ 8.95 ACRES â&#x20AC;˘ $671,000 â&#x20AC;˘ MLS# F2901931

CHILLIWACK RIVER VALLEY 4135 SLESSE RD, CHILLIWACK

18654 COLEBROOK RD â&#x20AC;˘ 9.728 ACRES â&#x20AC;˘ $727,000 â&#x20AC;˘ MLS# F2901928

LAND ONLY. 4.92 Acres in Chilliwack. Very private with access to hiking and biking trails close by. Build that dream home! Property is currently priced below the current appraised value. Owner wants it sold! $299,000

18592 COLEBROOK RD â&#x20AC;˘ 10.547 ACRES â&#x20AC;˘ $791,000 â&#x20AC;˘ MLS# F2901927 To view these listings and more go to www.farmrealtor.ca

HOUSE & ACREAGE â&#x20AC;˘ HOBBY FARMS â&#x20AC;˘ RANCHES â&#x20AC;˘ COMMERCIAL FARMS â&#x20AC;˘ CORPORATE SALES â&#x20AC;˘ LAND ONLY

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INDUSTRIAL STRATA UNIT FOR LEASE OR SALE #103 â&#x20AC;&#x201C; 27250 58 Crescent Langley ASKING $375,000 or $1600 NNN Monthly

ASKING $500,000 plus inventory s7ELLESTABLISHEDYEARHISTORY s#ONSISTENTLYPROlTABLE s/NLYHOURSHOPINTHIS.ORTHERN#OMMUNITY s3OLIDBASEWITHGOODGROWTHPOTENTIAL s3OMEOWNERlNANCINGMAYBEAVAILABLE s/WNERRETIRINGANDWANTSITSOLD

MERRITT MINI STORAGE

sSQFTFOOTPRINT s-AINmOORISSQFTOFlCESANDSQFT WAREHOUSEFRONTENTRY s-EZZANINESQFTOFlCE SHOWROOMSTORAGE s1UALITYIMPROVEMENTSTHROUGHOUT s:ONING- GENERALINDUSTRIAL

15.44 ACRES ZONED MULTI FAMILY AND COMMERCIAL MERRITT BC ASKING $2,950,000 sACRESZONED2HIGHDENSITY MULTIFAMILYTO4OWNHOMES sACRESZONED##OMMERCIALWITH FEETOFROADFRONTAGE s'OODHIGHWAYACCESS

MERRITT TOWN HOUSE DEVELOPMENT SITE ASKING $1,475,000

ASKING $749,000

s.ETINCOMEINEXCESSOF  s!LWAYSNEARFULLOCCUPANCY s-IXOFSTEELCLADBUILDINGSPARTIALSPRINKLERS ANDSTEELCONTAINERS sACRELOTADJOININGACRELOTALSOAVAILABLEFOR EXPANSION

s6IEW!cres s2EADYFORDEVELOPMENTPERMIT s:ONED2  s!PPROVEDFORUNITS

FULLY LEASED LANGLEY INVESTMENT BUILDING CAP RATE 6.1%

ASKING $3,295,000 s-ULTITENANTRETAILOFlCEMIX s0ROFESSIONALLYMANAGEDFOROWNEREASE s SQFTBUILDING s.ETINCOMEOF 

ASKING ONLY $14,132 per door

99 PAD PHASED MANUFACTURED HOME PARK LAC LA HACHE BC ASKING $650,000 s"RAND.EWn.OINCOME s,AKEVIEWSn,AKEACCESS sACRESPADSINPHASES sstPHASEPADS COMPLETEDWITHSEWER WATER ANDNATURALGAS s3ERVICESTOBEEXTENDEDFOROTHERPHASESAS REQUIRED s'RAVELLEDROADWAYSTHROUGHOUT s!LLZONINGANDAPPROVALSINPLACE s0ROFORMASHOWSPADRENTALGROSSINCOMEOF s ANNUALLY

MERRITT TRAVEL CENTRE & TRUCK STOP

FOR SALE Next to new SUPERMALL! sAC#ZONED s$1,999,000 Self Storage â&#x20AC;&#x201C; Sechelt sUNITSnLEASEDLAND s$849,000 Cloverdale â&#x20AC;&#x201C; OfďŹ ce s SF WALKUP s$7.50/sf Net Rent

KEN KIERS or KEN HICK 1-800-890-9855 Toll Free OR  $IRECT kiers@naicommercial.ca

FOR SALE â&#x20AC;&#x201C; AGASSIZ sACRES TITLES#ANBEPURCHASEDSEPARATELY s- (EAVY)NDUSTRIALsACRESPAVED s$3,299,000

FOR LEASE s) 'ENERAL)NDUSTRIAL sACREANDACREPARCELS s/FlCEANDCOVEREDWAREHOUSE s#LOSETO53BORDERAND(WY

!BBOTSFORD "#sCompetitive Rents

KEN KIERS 1-800-890-9855 Toll Free OR  $IRECT

s SQFT"UILDING ON!CBESIDE THE#OQUIHALLA(IGHWAYS s4ENANTSINCLUDE'REYHOUND"US$EPOT (USKY/IL #ONVENIENCE3TORE s'ROSS3ALESsAsking $3,500,000 KAMLOOPS MOBILE HOME PARK

sPADSONACRES s'ROSSREV nCAPRATE sAsking $1,800,000 KAMLOOPS 42-SUITE APARTMENT BUILDING

s4OTALLYRENOVATEDWITHTENANTREPLACEMENT s'ROSSINCOME nCAPRATE KAMLOOPS MINI STORAGE BUSINESS

s'ROSS2EV nCAPRATE sAsking $2,300,000

MICHAEL MARCKWORT   

kiers@naicommercial.ca

michael@naicommercial.ca

INDUSTRIAL INVESTMENT PROPERTY

EXCELLENT QUALITY MOTEL IN EASTERN BC

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Asking Price $4,690,000

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ALF SANDERSON

MICK MATHEUSIK, M.Sc.

  OR   

  OR   

tedw@naicommercial.ca

tedw@naicommercial.ca

alf@naicommercial.ca

mick@naicommercial.ca

   0ROFESSIONALSs -A RKET Ss #OU NT RIES


A14

www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR

COVER Lacklustre forecasts keeps buyers sidelined and prices in check for commercial real estate in 2011

0VUMPPL:FBSGPSTIBSQQFODJMT PETER MITHAM/FRANK Oâ&#x20AC;&#x2122;BRIEN WESTERN INVESTOR ecovery on the economic front will go hand in hand with retail and office investment in 2011, as developers cautiously brush off plans for towers downtown and improved housing starts boost demand in the suburbs for retail projects.

But this year will be characterized by hard bargaining on prices and incentives as doubts remain about the depth and speed of the economic recovery. While Metro Vancouver retail remains â&#x20AC;&#x153;the most sought-after property typeâ&#x20AC;? in Canada, according to a third-quarter report by Avison Young, sales tallies are off across the board from the second quarter as activity slowed in the second half of 2010 to the lowest level since the first quarter of 2009. Overall investment sales totalled $527.3 million in the third quarter of 2010, including $68.8 million worth of office deals and $143.7 million worth of retail sales. Those deals include South Surreyâ&#x20AC;&#x2122;s South Point Exchange, which sold to a private investor for $91 million, and Bosa Development Corp.â&#x20AC;&#x2122;s sale ofSemiahmoo Shopping Centre to First Capital Realty Inc. for $82.7 million â&#x20AC;&#x201C; both driven by strong growth in surrounding residential communities. But the deals also highlight the shift from the bargain-taking deal-making that characterized the first half of the year to a strategic rejigging of portfolios in the second half that heralds more stable conditions as owners prepare for the long term. Based on interviews in the third quarter, Colliers International reported that 61 per cent of investors were looking to expand their portfolios, down slightly from six months earlier when 65 per cent were looking to expand. On the other hand, approximately 22 per cent were looking to rebalance.

Photo: Richard Lam

3

Colliers executive vice-president Avtar Bains: â&#x20AC;&#x153;owning a building in downtown Vancouver is almost like being a member of an exclusive club. And getting into that club is really difficult.â&#x20AC;?

Close to two-fifths of respondents attributed the shift in emphasis to a desire to shift asset classes, while other key factors were linked to advantages to be gained from location, liquidity and leverage. Approximately 17 per cent were looking to trade up or trade down and 6 per cent were looking to increase leverage. A further 28 per cent refused to disclose the reasons for rebalancing their portfolios, but the several factors point to a hunkering down for the long term in the face of lacklustre growth for the year ahead.

.PEFTUFYQFDUBUJPOT

Central 1 Credit Union is calling for no more than 2.4 per cent growth in B.C.â&#x20AC;&#x2122;s real GDP for 2011, while the Colliers survey notes that 83 per cent of investors are maintaining, minimizing or decreasing their exposure to risk. While investors want growth, theyâ&#x20AC;&#x2122;re not willing to

take a hit in order to achieve it. This has put safe locales such as Vancouver at centre stage. Colliers notes that the proportion of investors keen to divest themselves of properties in Greater Toronto is more than double those keen to invest (53 per cent versus 26 per cent), while Vancouver was an appealing investment locale to 18 per cent of investors â&#x20AC;&#x201C; with just 12 per cent considering selling their Vancouver-area holdings. A panel discussion hosted by the commercial real estate association NAIOP in the last quarter of 2011 underscored the appeal Vancouver holds for buyers. â&#x20AC;&#x153;Investors want to have hope, they want to believe in a future, and I just think Vancouver has this poster boy, poster girl perception that we have it all,â&#x20AC;? said panellist Kevin Meikle, senior vice-president with Cushman &

Wakefield Ltd. in Vancouver. â&#x20AC;&#x153;Just to have that underlying sentiment, I think, will bode well for our B.C. market.â&#x20AC;? Of course the sentiment may not be true â&#x20AC;&#x201C; Meikle said the perception is based on the diverse economy of B.C. rather than its strength or vibrancy â&#x20AC;&#x201C; but the limited supply of potentia investment real estate keeps demand steady for the assets that do become available. Meikle expects hotel properties to follow retail as the next popular asset category among investors as institutional owners continue to rebalance portfolios to keep pace with the slow but emerging recovery. On the other hand, Colliers executive vicepresident Avtar Bains expects office properties to see strong demand as the economy and tenantsâ&#x20AC;&#x2122; requirements for space picks up and cash flows improve. New space includes 71,500 square feet in the mixed-use tower adjacent to theRosewood Hotel Georgia redevelopment and Jameson House on Hastings Street; the new office towers being discussed are primarily on sites owned by institutions that have desire to part with their assets. â&#x20AC;&#x153;Owning a building in downtown Vancouver is almost like being a member of an exclusive club. And getting into that club is really difficult,â&#x20AC;? Bains said, noting that 34 of the top 45 buildings downtown are owned by just five groups. Still, the tight ownership circle and lack of new supply fuels demand for new assets to flesh out the class. While smaller investors are buying up lower-tier properties to the east of downtown to get a slice of the office market, the major owners are able to build top-tier product with the help of deep pockets and an attractive financing environment. While banks are still demanding solid commitments before releasing financing for construction, institutional builders have the wherewithal to move forward with projects.

-PXFS.BJOMBOE FOR LEASE OR SALE

*Ă&#x20AC;Â&#x2C6;Â&#x201C;iĂ&#x160; Ă&#x17D;Ă&#x160;>VĂ&#x20AC;iĂ&#x192;Ă&#x160; TWO 18 HOLE Ă&#x192;Ă&#x2022;Â&#x201C;Â&#x201C;iĂ&#x20AC;Ă&#x160; Â&#x153;Â&#x2DC;Ă&#x160;Ă&#x152;Â&#x2026;iĂ&#x160; Ă&#x160; THEMED Ă&#x152;Â&#x153;Ă&#x2022;Ă&#x20AC;Â&#x2C6;Ă&#x192;Â&#x201C;Ă&#x160; -Â&#x2026;Ă&#x2022;Ă&#x192;Ă&#x153;>ÂŤ Â?Â&#x153;V>Ă&#x152;Â&#x2C6;Â&#x153;Â&#x2DC; MINI-GOLF >Â&#x17D;iĂ&#x160; COURSES ON LANDSCAPED PROPERTY

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FOR SALE

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COMMERCIAL R E A L E S TAT E S E R V I C E S SENIOR'S DEVELOPMENT SITE $2,800,000 Foundation in place, tendered plans, permits, ready to build. Income $3,780,000 - Vendor take-back financing.

TOWNHOUSE SITES

Crescent Point Estate The setting ... absolutely unique. The possibilities ... endless. A world class waterfront estate with an unbeatable prime position on the tip of the White Rock Peninsula. The ďŹ nal scope of this opportunity is limited only by your imagination. On the bluff, high above the Crescent Beach marina, the existing land assembly encompasses two carriage houses, tennis courts, a swimming pool and a fully renovated 6000 sq. ft. main residence. Corporate retreat, expansive private ofďŹ ces -- this maginiďŹ cent waterfront estate is 1.82 acres of possibility. Without a doubt, one of the ďŹ nest waterfront offerings ever in the Greater Vancouver area.

Offered at $6,988,888

Richmond - S.McLennan 32 Units - $6,500,000 58,000 S.F. Lot, 38,000 Buil. New West Queensborough 76 Units - $9,250,000 3.28 Acres - NO FAR

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A15

WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com

This could spur development of two to three new towers in Vancouver, CB Richard Ellis executive vice-president Jim Szabo told NAIOP. While much of the rest of the continent grapples with negative absorption, a tight market in Vancouver is inviting new construction and investment. â&#x20AC;&#x153;The market could probably withstand something in the neighbourhood of two, possibly three office towers downtown in that 700,000to-a-million-square-feet [range] because they wonâ&#x20AC;&#x2122;t all be done at the same time,â&#x20AC;? Szabo said. Unlike Calgary, where speculative construction surged on the back of an oil and gas boom, a more conservative character in Vancouverâ&#x20AC;&#x2122;s diverse, small-tenant market means solid preleasing is needed for at least half the potential development sites even as downtown vacancies in triple-A space remain a low 4.4 per cent. Vancouver is now entertaining or anticipating proposals for six sites around the downtown core, including: â&#x20AC;˘ 520 West Georgia Street (500,000 square feet) by Westbank Projects Corp.; â&#x20AC;˘ 745 Thurlow Street (380,000 square feet) by Bentall Capital; â&#x20AC;˘ 800 Griffiths Way (240,000 square feet) by Aquilini Investment Group; â&#x20AC;˘ 400-block West Georgia Street (480,000 square feet) by Austeville Properties Ltd.; â&#x20AC;˘ 1000-block West Hastings (260,000 square feet) by Oxford Properties Group; and â&#x20AC;˘ 1200-block Burrard Street (190,000 square feet) by Reliance Holdings and the Pattison Group. â&#x20AC;&#x153;About half of them are pension fund-owned sites and the other half are privately owned sites,â&#x20AC;? Szabo said of the possible construction sites. But he cautioned, â&#x20AC;&#x153;Privately owned sites are going to need construction financing to get off the ground, and theyâ&#x20AC;&#x2122;re going to need preleasing. And preleasing in this city is difficult.â&#x20AC;? Several large tenants requiring in the vicinity of 100,000 square feet of space will be reviewing lease arrangements in 2011 in anticipation of a 2014-15 renewal date, meaning new projects have a pool of potential tenants. The current market constraints stand to keep supply

Photo: Reliance Properties Ltd.

/FXPGGJDFUPXFST

Burrard Gateway tower, centre: one of six new office projects planned or proposed in Vancouver. None will open this year.

limited, support rising rents and ensure a secure market for investors. â&#x20AC;&#x153;I donâ&#x20AC;&#x2122;t see any possibility whatsoever that downtown Vancouver will match the graph of downtown Calgary,â&#x20AC;? Bains observed during the NAIOP discussion. â&#x20AC;&#x153;Thatâ&#x20AC;&#x2122;s one of the innate protections we have in our marketplace â&#x20AC;&#x201C; that we are so diversified that no oneâ&#x20AC;&#x2122;s going to come into the marketplace and want 400,000 or 500,000 or 600,000 square feet all at once.â&#x20AC;?

*OEVTUSJBM

Metro Vancouverâ&#x20AC;&#x2122;s industrial vacancy rate increased to near 5 per cent in the final months of 2010 and, unless there is a sudden uptick in demand, will likely remain close to that level for 2011. In some key markets the stubbornly high land prices have convinced owner-operators to look at retrofitting older buildings, while speculators are turning to strata units because it has become â&#x20AC;&#x153;economically unfeasibleâ&#x20AC;? to build for lease, according to Avison Young. Industrial lease rates across the region are down from 10 per cent to 15 per cent, and some landlords â&#x20AC;&#x201C; especially those holding big-bay

space â&#x20AC;&#x201C; are providing generous incentives to draw tenants in, said DTZ Barnicke. Not that strata space is proving a boon for spec builders, either. Sales of new buildings above 40,000 square feet have seen prices drop as low as $100 per square foot, lower than the cost of replacement. Yet land values are still in the $900,000-peracre range in the Fraser Valley and easily top $1 million in Burnaby, Richmond or Vancouver. So, with eight million square feet of industrial space sitting vacant and land prices holding steady as the new year dawns, most expect little speculative construction this year. â&#x20AC;&#x153;New construction has led to an oversupply,â&#x20AC;? noted agent Steve Caldwell of DTZ Barnicke, who forecasts this will lead to lower lease rates, particularly in larger industrial properties. A bright spot, he notes, is in new small strata space of between 2,000 to 4,000 square feet, â&#x20AC;&#x153;which will likely hold steady.â&#x20AC;? An overview of the challenges facing the Metro industrial market is in Delta, which has 21 million square feet of space, 9.2 per cent of it vacant. But this is one market that could prove the first to pick up if economic condi-

tions improve. The $658 million South Fraser Perimeter Road â&#x20AC;&#x201C; running from Deltaport to Highway 1 â&#x20AC;&#x201C; starts this year and is expected to spur speculative construction. Also, the Tsawwassen First Nation is expected to finalize a deal soon to develop 335 acres of land adjacent to Deltaport. All this is in the future, however, and will not lead to a big improvement in Deltaâ&#x20AC;&#x2122;s industrial market this year. Like the rest of Metro Vancouver, 2011 will be characterized by tenants and owner-occupiers â&#x20AC;&#x153;remaining on the sidelines until they witness sustained improvement in their business and the economyâ&#x20AC;?, notes Avison Young.

.VMUJGBNJMZ

Despite stratospheric prices and the lowest capitalization rates in the country, sales of apartment buildings is expected to be one of the stars in the 2011 real estate environment. This is one market where big investors seem willing to open their wallets in a search for security and cash flow. â&#x20AC;&#x153;There is no question that the multi-family market will remain strong this year,â&#x20AC;? said Bains, noting that pension funds and other institutional investors have created a new diversity of buyers. Bains, who one year ago quarterbacked the sale of two of the largest apartment portfolios in the cityâ&#x20AC;&#x201C; Beach Towers and Langara Gardens that sold for a total of $280 million â&#x20AC;&#x201C; said only reluctant vendors are keeping the market reined in. Bains noted the low rental vacancy rate â&#x20AC;&#x201C; around 1.5 per cent â&#x20AC;&#x201C; little increase in new product and an expected 40,000 newcomers will keep apartment values rising. This would mean another increase in prices that soared 16 per cent in 2010 from a year earlier to a new average high of $218,266 per apartment in the last six months of 2010. Most sales action is coming in expensive areas, including Vancouverâ&#x20AC;&#x2122;s West End and South Granville. In the West End â&#x20AC;&#x201C; the hottest market last year with 11 buildings selling â&#x20AC;&#x201C; the average price â&#x20AC;&#x153;per doorâ&#x20AC;? was $243,943, according to a survey by David Goodman of Macdonald Commercial.â&#x2014;&#x2020;

-PXFS.BJOMBOE Ray Veenbaas LITTLE OAK REALTY 604 859 2341

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

"All ofďŹ ces independently owned and operated"

1-800-668-8661

Richard Riemersma 604 309 8541

RESIDENTIAL, COMMERCIAL, INVESTMENT & AGRICULTURE

37,000 SQ FT INDUSTRIAL BUILDING ON BEATTY DRIVE ASKING $3,550,000 1,800 SQ FT PROFESSIONAL OFFICES ON LOGAN AVENUE ASKING $440,000

ISLAND PROPERTY

RECREATIONAL PRODUCTS BUSINESS

LAND & BUILDING @ Going Concern DEVELOPMENT

1.78 ACRES, PROPOSED TOWNHOUSE DEVELOPMENT

5 COVES ECO RESORT ( Across Howe Sound from Furry Creek & Britannia Beach )

$1,500,000

STRIP MALL

BEER & WINE STORE, HOTEL & PUB Asking $2,950,000

604-859-2341

$1,000,000 $2,750,000 $3,750,000

BUSINESS MOBILE TIRE REPAIR

$189,900

( with up to 3.5 acre assembly possible ) MOBILE SANDWICH TRUCKS $245,000

$2,950,000

Call for details

Little Oak Realty

TF 1-800-668-8661

CONTRACTOR SUPPLY RESTAURANT MOVING COMPANY RESTAURANT

#9â&#x20AC;&#x201C;2630 Bourquin W., Abbotsford

"EACH OFFICE INDEPENDENTLY OWNED & OPERATED"

$400,000 $1,200,000

Call for details $1,500,000


A16 Lower Mainland For Sale

BURNABY OfďŹ ce Investment - fully leased ofďŹ ce building - 34,685 sf gross building area - two secure levels of underground parking - 35,565 sf (.81 acre) rectangular site For further details please contact:

KENT CRAIG (604) 279-3817

kc@kentcraig.com

www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR

MOTELS AND HOTELS FOR SALE IN B.C. Victoria, British Columbia 80 Units. Franchised. Limited service. Priced at $5 million best buy. (Holiday Inn Express, Best Western, Super 8, Four Points Sheraton, Hampton Inn, Ramada, Days Inn.) Valemount, British Columbia 72 Units motel plus a restaurant On Hwy No.5 Yellowhead Hwy plus highway and truck stop location. Excellent frontage. Asking $4,888,888. Excellent cap rate of over 12% to 14% approximately.

1-800-661-6988

www.westerninvestor.com

Call; New World Realty +ARIM!LI-ERALIs    karimerali@gmail.com

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Since 1993 the Jurock Facts by Email (formerly the Facts by Fax) has provided CLARITY to the questions â&#x20AC;&#x153;what should I buy, where and how?â&#x20AC;?. But also what not to buy. Our readers have been advised not to buy quarter shares, hotel condos, time shares, reverse mortgages and a myriad of other poor investments. They also have been advised to buy and sell real estate ahead of the many ongoing changes in the markets.

s / ZZIE IS THE ONLY #ANADIAN REAL ESTATE advisor featured in Donald Trumpâ&#x20AC;&#x2122;s new book: Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies s 0 ETER#.EWMANCALLEDHIMA2EAL%STATE Guru in his book Titans s Vancouver Magazine called him one of the 45 brightest people in Vancouver s (E WAS 0RESIDENT OF THE LARGEST REAL estate company in Canada with 10,000 employees and also ran a construction company in Asia

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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: â&#x20AC;˘ Limited spaces â&#x20AC;˘ 4-colour ads â&#x20AC;˘ Special rates 604-669-8500 â&#x20AC;˘ 1-800-661-6988 advertise@westerninvestor.com

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Lower Mainland A17

WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com

ABBOTSFORD INDUSTRIAL/COMMERCIAL PROPERTY

Airport North Business Park

Airport East Business Park

30553 Great Northern Ave

Just South of Hwy. #1 at Clearbrook Rd.

For Sale or For Lease

Freehold Lots For Sale

32,025 S.F tilt slab building, 24’ clear ceiling height, ample power available, N/G radiant heat installed, Grade Loading, I-2 Zoning. Close to Abbotsford International Airport, Highway 1 and the Abbotsford Auto-Mall. Seller may assist with financing OAC.

Lots from 1 to 11 acres that will be zoned either IB-1 or I-2. Services on the lot line. Ideal for small to medium sized Industrial users. Full information package available soon.

$4,800,000

Maclure Business Park 33403 Maclure Road Rent Month to Month or Lease to Own. Purchase with 90% financing OAC when you combine your first mortgage with a VTB second. Prices start from $1,483 + HST per month.

31877 South Fraser Way For Lease High Exposure Freestanding Commercial Building on 1.25 Acres. Outstanding Commercial Storage Space , 21,530 s.f. with two dock and one grade loading $4.75 per sq ft + HST Gross Lease. Natural Gas Heating, fluorescent lighting and two piece washroom included. 12 parking stalls with gated access.

Commercial Medallion Club Homelife Glenayre Realty Co. Ltd.

Ken Neufeld Business: 604.217.0455 www.abbotsfordicirealestate.com kenneufeld@telus.net


A18 Lower Mainland

www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR

Each office is independently owned and operated.

Blenz Master Franchise & Franchise Opportunity

FRASER VA L L E Y

in Vancouver, Vancouver Island, Ontario & Alberta Blenz Franchises ....................... $200K - $368K Steamrollers Franchise Opportunity, SFU, Port Moody, Robson St ..........................$275K each Wired Monk Master Franchise & Franchise Opportunity. Wired Monk .......................................... .................................$199,900, $135K, 229K, $299K Titan Motorcycle Single & Master Franchises Available in British Columbia, Ontario and Alberta Canadian Carpet & Tile Vancouver, two locations: ............................................................. $300K, $200K

OPPORTUNITY Unique opportunity to purchase 18.75 acres with a going concern wood shop business. Full line of equipment included. Attractive 5 bedroom home, double garage

For Details On Additional Listings Go To

plus single garage.

www.matthewmoadebi.com www.vancouverfranchise.ca

Terry A Young 604-970-3808 1-800-665-1455 terry@terryyounghomes.com RE/MAX Crest Realty

Business supplies specialty cut lumber products to the wholesale and construction

Matthew Moadebi 604-329-6771 (Cell)

industry and has been in business for over 20 years. High profit business with loyal repeat customers.

m.m7430@gmail.com

List Price:

$3.75 Million

Building & Business

Retail Coquitlam

Cabinet making warehouse with showroom in Port Coquitlam with almost 4700 sq ft Building & Business $1,189,000 MLS® V4022177

Brand new 738 sq ft Retail unit in Coquitlam with over $100,000 leasehold improvement is waiting for your money making ideas or negotiate a deal for current operating business $519,000 MLS® #V4025034

For more details on this exclusive listing, please contact:

S TA N W I E B E 1-800-668-8661 stanwiebe@remax.net www.stanwiebe.com

Authorized Mobilicity Dealership Brand new wireless carrier, Mobilicity Authorized Dealership in Coquitlam Ground level opportunity, Grow fast with this aggressive Canadian company $99,000

RE/MAX Little Oak Realty

Port Hardy Town Home Investment

9-2630 Bourquin Crescent Abbotsford, BC V2S 5N7

Invest in this fully remodeled in and out town homes on Vancouver Island. 2 bedroom town home $125,000 with guaranteed monthly rentals of $700.00/mo. Limited time offer.

FOR SALE This can be your space for your business. Call me if you are thinking of selling

Wanted DEAD or ALIVE ANY BUSINESS FOR SALE With or without properties, big or small we have many qualified buyers that are looking to invest in small to medium size operation. Whether your business is making a little or lots of money, I may have the perfect buyer for it. Call me and you will be glad you did.

MEHRAN MOALLEM

B.Elec. Cert. Marketing

Business and Commercial Consultant

With over 25 years combined sales and retail experience

778-858-9025 mehranmoallem@gmail.com

RE/MAX CITY COMMERCIAL DIVISION

IsYourBusinessForSale.com

Attention

Agents:

REACH QUALIFIED BUYERS FOR YOUR LISTINGS

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

Each office is independently owned and operated

OFFICE STRATA UNITS

COMMERCIAL DEVELOPMENT SITE - LANGLEY

1050 PACIFIC ST (Main Office Entrance) Unique opportunity to own a dual use strata consisting of a 613 sf office with street entrance + a 870 sf 2 bdrm suite above. 2nd entrance 2J – 1033 Marina side. $1,099,000 2132 ALBERTA (Near 6th & Cambie) 2357 sf 2 level C1 Zoned building. Rebuilt 10 yrs ago. Lower level is vacant, 2nd level is a private 2 bed, 2 bath residence. Bonus: 1200 sf 3rd fl roof deck. $1,690,900

21427 83rd AVE near 216 St. proposed interchange in Willoughby Heights in Langley. 1.51 acres for sale (65,000 sq ft) + Properties on either side may also be available (for another 3 acres). Currently zoned SR-2. Suburban Residential with 4200 sq ft house & a few outbuildings on property. Potential future re-zoning to Highway Commercial once interchange finished in 2013 (strip mall, hotel?) $1,999,000

NORTH SURREY LAND ASSEMBLY

LILLOOET LAND FOR SALE - 17 ACRES 1.5 HRS NORTH OF WHISTLER

11880 – 11920 96A AVE 4 lots with 275 ft frontage & 36,000 sf of land, zoned single family. Most properties currently rented. Great holding property! Go to web for info package and area video. $2,100,000

8810 TEXAS CREEK RD (8km south of Lillooet) 17+ acres – view lot on a knoll, drilled well, sweeping views of valley, mountains & river. Golf course nearby. Build your dream home. MUST BE SOLD $139,000

COMMERCIAL DRIVE MEXICAN RESTAURANT

LES TWAROG

2095 COMMERCIAL DRIVE – ME & JULIO MODERN MEXICAN KITCHEN 1,920 s/f totally renovated new restaurant with 90 seats & 24 on heated patio. Sales $1M/ yr with $75K Net. Lease $6,317/mo all in. 2am license on Fri. & Sat. (until Aug 2012 + 5yr option) $299,000

(604)671-7000

1428 W 7th Ave., Vancouver, B.C. Crest Realty (Westside)

To view listings please visit:

www.6717000.com/biz Jan 2011

Each office is independently owned and operated.


Lower Mainland A19

WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com

Powell River Investment O P P O RT U N I T I E S In-Town Oceanfront Property

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

Magnificent Waterfront Acreage

245 acres west sloping land approx. 2700’ waterfront; incredible panoramic views; in ALR $3,100,000

Incredible Location!

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

Ideal Agri-Business Opportunity

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

Great Investment Property

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

Aroma's Gourmet Coffee & Lunch

Well established; coffee & Lunch. Well established; steady clientele. Leased space on active business complex; Across from Airport. Financials available. $59,900

Warren Behan

Personal Real Estate Corporation www.WarrenBehan.com

For more information contact us at 1-888-597-7272

1-877-485-2324 warren@warrenbehan.com

FOR SALE Franchised Limited Service Hotel New Brunswick UÊÇäÊÀœœ“ÃÊ- $ 2.775 M ÃÃiÌ ->iʇÊiÝVii˜ÌÊVœ˜`ˆÌˆœ˜ "Ê̜ʜܘiÀɜ«iÀ>̜À\ close to $ 500,000 ˆ˜ÊÓää™ÊEÊÓä£ä Contact Info:

hotel4saleNB@yahoo.ca Serious Inquiries Only Please!

KITSILANO BLOWOUT! PRICED WELL BELOW B.C. SELLING UNDER CITYASSESSMENT!  ASSESSMENT!

•VIBRANTKITSILANOAREA •C2ZONING:IDEALFOR PROFESSIONAL,HEALTH, OFFICE,RETAIL,STUDIOUSE •CLOSETOTRANSIT,BUSY BROADWAY ALMA 10THAVE BROADWAY,ALMA, &UBC •REARPARKING,FULL $398,880forBOTH KITCHEN&FULLBATH TWOCOMMERCIAL(C2)ZONEDLiveWork/ArtistStudios

KENPHO CENTREREALTY

778.834.7093

604.435.9477

kpho@sutton.com www.KENPHO.com

Each office is independently owned and operated.

INVESTMENT OPPORTUNITIES

DEVELOPERS ALERT! LANGLEY, BC

FRASERWOOD LANDING 21900 Westminster Highway, Richmond, B.C.

Unit #135

Unit #230

Unit #245

*1,910 sq. ft. *Currently leased to: E.Excel Canada LLC -3 year term expiring April 30, 2013 with options to renew -$21,965.04 per year triple net income *6 parking stalls *40% office build out with full HVAC *Asking price: $369,000

*2,187 sq. ft. *Currently leased to: B.K Ranch Ltd. -3 year term expiring September 30, 2013 with options to renew -$28,431 per year triple net income *7 parking stalls *100% office build out with full HVAC *Asking price: $469,000

*3,602 sq. ft. *Currently leased to: IRC Building Sciences -5 year term expiring January 31, 2015 -approx. $43,000 per year triple net income *Over 100 linear feet of window frontage *Fully demised & improved 2nd floor office *12 parking stalls *Asking Price: $699,000

For Further Information, Please Contact:

*PETER HALL / *CHRIS DAVIES - RE/MAX CENTRAL *Personal Real Estate Corporation Telephone: (604) 718-7300ÊUÊ>Vȓˆi\Ê(604) 718-7307 E-Mail: remax@axion.netÊUÊ7iLÈÌi\ www.davies-hall.com

Yorkson Assembly up to 23 acres available. Currently 14.5 acres assembled. (★) OCP designation for 40-80 UPA. Terms Available. For more information:

Michael G Herberts B.Sc.

604-472-0811 Results Realty

Each office is independently owned and operated.


A20 Lower Mainland/Sea to Sky/Sunshine Coast * " 7   Ă&#x160; ,  6 , ] Ă&#x160;

WELL ESTABLISHED CLOTHING BOUTIQUE FOR SALE $260,000 UĂ&#x160;`i>Â?Ă&#x160;`Â&#x153;Ă&#x153;Â&#x2DC;Ă&#x152;Â&#x153;Ă&#x153;Â&#x2DC;Ă&#x160;>Ă&#x20AC;Â&#x2C6;Â&#x2DC;iĂ&#x160;Ă&#x192;Ă&#x152;Â&#x153;Ă&#x20AC;ivĂ&#x20AC;Â&#x153;Â&#x2DC;Ă&#x152;Ă&#x160; Â?Â&#x153;V>Ă&#x152;Â&#x2C6;Â&#x153;Â&#x2DC;Ă&#x160;Ă&#x153;Â&#x2C6;Ă&#x152;Â&#x2026;Ă&#x160;Â?Â&#x153;Ă&#x152;Ă&#x192;Ă&#x160;Â&#x153;vĂ&#x160;ÂŤ>Ă&#x20AC;Â&#x17D;Â&#x2C6;Â&#x2DC;} UĂ&#x160;*Â&#x153;Ă&#x192;Â&#x2C6;Ă&#x152;Â&#x2C6;Ă&#x203A;iĂ&#x160;Ă&#x20AC;iÂŤĂ&#x2022;Ă&#x152;>Ă&#x152;Â&#x2C6;Â&#x153;Â&#x2DC;Ă&#x160; Â&#x2021;Ă&#x160;Â&#x153;Ă&#x153;Ă&#x160;Â&#x153;Ă&#x203A;iĂ&#x20AC;Â&#x2026;i>`Ă&#x160;Â&#x2021;Ă&#x160;Â&#x153;ÂŤÂŤÂ&#x153;Ă&#x20AC;Ă&#x152;Ă&#x2022;Â&#x2DC;Â&#x2C6;Ă&#x152;Ă&#x17E;Ă&#x160;vÂ&#x153;Ă&#x20AC;Ă&#x160;iĂ?ÂŤ>Â&#x2DC;Ă&#x192;Â&#x2C6;Â&#x153;Â&#x2DC; UĂ&#x160;Â&#x153;Ă&#x17E;>Â?Ă&#x160;VĂ&#x2022;Ă&#x192;Ă&#x152;Â&#x153;Â&#x201C;iĂ&#x20AC;Ă&#x160;L>Ă&#x192;iĂ&#x160;Â&#x2021;Â&#x2C6;}Â&#x2026;Ă&#x160;ÂŤĂ&#x20AC;Â&#x153;wĂ&#x160;Ă&#x152;Ă&#x160;Â&#x201C;>Ă&#x20AC;}Â&#x2C6;Â&#x2DC;Ă&#x192;Ă&#x160; EĂ&#x160;Ă&#x192;Ă&#x152;i>`Ă&#x17E;Ă&#x160;}Ă&#x20AC;Â&#x153;Ă&#x153;Ă&#x152;Â&#x2026;Ă&#x160;Ă&#x20AC;>Ă&#x152;iĂ&#x160;Ă&#x192;Â&#x2C6;Â&#x2DC;ViĂ&#x160;Ă&#x201C;ääĂ&#x17D;Ă&#x160;Ă&#x160;Ă&#x160; For more info email kathybowes@remax.net

Powell River

KATHY BOWES Direct line 604-483-1633 CALL (anytime) www.kathybowes.com

YOUR OWN PERSONAL PIECE OF PARADISE

SQUAMISH INVESTMENTS

SUNSHINE COAST, BC ML#V4021517 â&#x20AC;&#x153;The Dockâ&#x20AC;? in Sechelt Now $1,399,900 Main street, downtown location with excellent exposure in Sechelt. 2 level building with retail, store, offices and zoned for residential above. High traffic area with lots of parking. 10 tenancies in place, many long term and great cap rate. Call Terry for more info.

ML#V4024655 Main Street, Sechelt

$879,000

Commercial building with two excellent tenants. Prime location on main street with upgrades & high visual presents. Triple net leases & good cap.

T E R RY & PA M B R ACK E TT 1-800-895-4313 terry@thebrackettgroup.com Remax Oceanview Realty SECHELT

Gateway Corner Property Dwtn dev site w/income $1.7 Mil

Pub & Real Estate - 4000 sf on over 1/2 Acre 163 seat & BW allowed, redev. potential $735 K Prime Retail For Lease 1,200 â&#x20AC;&#x201C; 15,000 sf B Park by National Tenants and Hwy 99! Spring 2011 Prime Retail Building Busy Dwtn corner $1.10 Mil 8 Acre Single Family Site Panoramic views, great location $2.15 Mil

6,000 sf Site Downtown Mixed use zoning. Only $299,000 I-1 Revenue Property 0.55 Acre, tenants $1.19 Mil Mixed Use Site 18,000 sf Dwtn, blks to oceanfront $975K

CHEAP CONDOS AND BUILDING LOTS Darren McCartney RE/MAX Sea to Sky 604-892-4875 Real Estate Squamish darren.mc@shaw.ca

Downtown Squamish - â&#x20AC;&#x153;Voted Best Lunch Spotâ&#x20AC;? 4 yrs in a row!

Contact:

JANUARY 2011 WESTERN INVESTOR

sWell Established 7yrs, popular CafĂŠ & Catering company s'REATLOCATIONSBESIDE Save-On-Foods, and by car wash s0ROFESSIONALSETUP INSTANT cash ďŹ&#x201A;ow, good return $299,000 s,IQUORLICENSE SHARE SALE s"EST"USINESSIN TOWNAND"EST,OCATIONS

"!2"!2!',//2swww.barbgloor.com sBARBGLOOR TELUSNET3EATO3KY2EAL%STATE 3QUAMISH

marketing your franchise? Call the

1-800-661-6988 (604) 608-5110 westerninvestor.com

Individually owned, fully managed luxury vacation condos in the idyllic coastal town of Chemainus on Vancouver Island. These revenue condos are set in the heart of the active Cowichan tourist area; known as â&#x20AC;&#x153;The warm land.â&#x20AC;? Bi-annual vacation time is reserved for condo owners with on-site management of the condos as a boutique hotel.

Full ownership from $264,000 to $324,000. Only six units available. agents/brokers commissionable

www.meetinginnchemainus.com

RANDALL TAYLOR Tel 250 714 4248 1 800 769 5757 randall.taylor@dtzbarnicke.com Real estate trading services are provided by

MEETING INN CHEMAINUS Vacation Condos and Elite Events Centre www.meetinginnchemainus.com

1 800 769 5757

SORRY, YOUR AD IS MISSING...

Market your listings in the Western Investor. Thousands of private investors and real estate professionals use the Western Investor to help guide their investment dollars into profitable businesses.

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DTZ Barnicke Nanaimo Ltd. 201 â&#x20AC;&#x201C; 155 Skinner Street Nanaimo, British Columbia V9R 5E8

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FEBRUARY AD DEADLINE JANUARY 10TH Report: Mixed use development Parking garages Office market update Investing: takeback mortgages Franchise News Recreational Properties Regional Roundups: BC: Sooke AB: Fort McMurray/Wood Buffalo MB: Brandon Spotlight: Smithers, BC

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DBMMUPMMGSFF 


A21

WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com

FEATURE Forget bank loans or cash: Old-school bartering for property can make sense in troubled times

5SBEFGPSSFBMFTUBUF WAYNE EDGAR WESTERN INVESTOR here is a powerful tool for real estate investors that has been available for centuries using trade (also known as barter) instead of cash to buy real estate.

5

Photo: Trade Exchange

I have spoken with real estate investors over the years that have had difficulty selling their real estate (especially in tough markets). Either it is a buyer’s market or the price they want to get does not attract any interest. For the creative real estate investor there are other options available.

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Your listed asking price is $500,000 and you are not willing to accept offers for less and are not getting any buyers who are interested at that price. But you need a boat as well. Solution? Advertise that you are willing to accept a boat, car or something else you want (worth at least $50,000) that you will take for part of the purchase price. I know of several real estate investors who have bought or sold on this basis. A real estate investor I know of accepted a $200,000 Ferrari toward the purchase price of a condo he was selling. With a little creativity anything is possible. This tool will open new doors that aren’t open with a full cash offer. Many people (especially business owners) are looking to move their excess inventory or distressed inventory and may consider turning it into a piece of property if they can get full value for the trade. If you don’t really want to take something directly you can also use the services of a corporate trade company that will help put buyers and sellers together.

Scott Berg and Wayne Edgar, owners of Trade Exchange Canada.

this same tool. If you find a property you are interested in and the seller is not willing to move on the price, you may have something to trade that could form part of the purchase price. You may even have some property that you are looking to move that he or she will accept in trade. There are many options when dealing in trade that most individuals are not aware of. If you come across a distressed sale, ask what else the seller would take as a down payment, tie it up and use these ideas to find what he or she needs and trade it.

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Another option is to use a corporate trade exchange to help navigate the buying or selling of real estate using trade. Retail trade exchanges have been around for more than 50 years with over 250,000 businesses in Canada and the U.S. participating in one form or another. Their job is to bring buyers and sellers in all types of business together to exchange their goods and services without the use of cash. #VZJOHSFBMFTUBUF Trade companies are clearing houses for If you are buying real estate you can also use

their business clients. They help find buyers for the clients’ products or services, which are paid for in a trade credit commonly known as a trade dollar. These trade dollars, which are generated from business that trade company clients wouldn’t normally get are used to offset existing and future cash expenses (usually at their wholesale cost). Ask the trade company if it has any properties listed for sale that are available with trade as part of the purchase price. All you will need is something to offer the trade company to form part of the trade. A great example is a hotel. If a hotel has 10 empty rooms tonight, tomorrow morning that is revenue that it will never get back (a perishable asset). By trading four of these rooms into the local trade exchange, the hotel gets its regular price without any incremental costs to take the bookings (other than maybe a cleaning fee of, say, $15 per room). When the hotel needs business cards or other printing, it can use its trade dollars to make the purchase (at a cost of only $60 – the cleaning fee for four rooms), which is a massive savings every time it purchases on trade instead of cash. This same concept can apply to real estate. A business that sells seminars to our members at $1,200 per seat (in other words, full retail price) can use those seats as leverage. Left empty, the seats would represent revenue that is lost forever. By selling the empty seats, the business has generated close to $100,000 of additional revenue that it would not have received otherwise, earned at a cost of around $10 per seat in books, coffee, etc. – a 90 per cent discount every time the business uses trade in lieu of cash. A rental condo came up for sale for $250,000 with a $100,000 down payment accepted in trade that was cash-flow positive. The purchase was made but, using the example above, the $100,000 trade down payment actually only cost $10,000 – a $90,000 savings on the purchase, which of course is

now converted to real cash in a piece of real estate with, hopefully, rental income to cover the mortgage.

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There are many resources on the Internet that can be researched to learn more about how a trade exchange can benefit any business owner or real estate investor. The key is to remember that you must have something of value to trade and need to be able to find goods and services or real estate to acquire with the trade you earn Call your local trade companies and ask how long they have been in business, how many clients they have and the volume of transactions they are doing each month. Make sure to find one that has at least 500 business clients and has been in business at least 10 years, ideally. Remember, on your next real estate deal don’t pay cash, trade for it.◆

Wayne Edgar is a partner, with Scott Berg, in Vancouver-based Trade Exchange Canada, which can be contacted at 604-294-5881 or through www.tradeexchangecanada.com. This article first appeared in Real Estate Action, published by Jurock Publishing Ltd. in 2010.

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A22 Lower Mainland

www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR

2011!

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Vancouver Island A23

WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com

NANAIM0 REVENUE PROPERTY

ED HANDJA PERSONAL REAL ESTATE CORP.

s&OUR 0LEXs$OWNTOWNs'OOD2EVENUE s.EW2OOF 7INDOWS $314,000

www.bcoceanfront.com

Phone: 1-800-563-7322 UĂ&#x160; iÂ?Â?\ 250-287-0011

SUBDIVIDABLE ACREAGE s!CRESs7ELLTREED$499,000

s0IZZA3TOREs$40ARKSVILLE s'REAT)NCOMEs7ILL4RAIN $59,000

including Facility Management Services on Vancouver Island and in Prince Rupert, B.C.

PUB AND LIQUOR STORE

Contact Duncan MacKenzie

SEATs/UTDOORPATIOs TREEDACRES sDUALZONINGsLIVINGQUARTERSs(WYFRONTAGE

duncan.mackenzie@randallnorth.ca

BUSINESS FOR SALE

QUADRA ISLAND RESORT 8 extraordinary oceanfront acres with commercial zoning, 390ft of low-bank shoreline, south west exposure & incredible views. Improvements include a charismatic main lodge, 3 duplex cottages, large shop & substantial private moorage. This property has heavily forested areas & expansive lawns & would be an ideal resort development or a superb private oceanfront estate. $1,090,000

ALERT BAY, OCEANVIEW CABINS Well run & maintained resort style accommodations with 12 nicely renovated freestanding ocean view cabins including 2 duplex style cabins, ranging in size from 300â&#x20AC;&#x201C;640sqft each & separate managerâ&#x20AC;&#x2122;s accommodation. Minutes from the amenities & attractions of town, incredible ďŹ shing, scenery & unlimited adventure. Adjacent to an airstrip â&#x20AC;&#x201C; ďŹ&#x201A;y your clients with style! $1,125,000

Full Property Management Services (Residential and Commercial)

DAN JACK 1-800-533-4153 danjack@shaw.ca WHITECAP REALTY PARKSVILLE

1-250-658-8060

www.randallnorth.ca

For Sale by Court Order Sidney, BC

Seniors Care Facility

Church

81 rooms, vacant

13,000 sf, u/g parking New concrete construction

PORT HARDY, SEAGATE HOTEL Rare opportunity to acquire a premier commercial oceanfront and semi-oceanfront downtown development property. 4.16 acres in 4 titles adjacent to the government dock. The original hotel and pub buildings are under demolition order and an additional 4 storey hotel structure is currently not functional but may be a restoration candidate. Prime location! Court ordered sale. $995,000

PUB & FAMILY RESTAURANT Cypress Tree Inn: 3500sqft building & business on 1.7 acres, consisting of a pub, additional â&#x20AC;&#x2DC;Beer & Wineâ&#x20AC;&#x2122; license & separate family restaurant, located at the main highway junction in the Sayward Valley on Vancouver Island - an area popular with tourists from around the world. The only year round business of its kind in this region! Steady growth, excellent potential! $1,100,000

ROBIN HILL MICHAEL BARAGON

604-682-3369 carewest@shaw.ca

NANAIMO & VANCOUVER ISLAND PROPERTIES

 Ă&#x160;, Ă&#x2030;8Ă&#x160;"  * " INCOME PRODUCING + REVENUE PROPERTIES PACIFICA OCEAN FRONT CONDOS

NORTH ISLAND HOTEL & PUB, WINE & BEER STORE 50 Rooms and restaurants. 2 lots. Over 3.9 Million annual sales. $2,995,000

1 BEDROOM PLUS DEN $239,900 WATERFRONT TOWNHOME 1740 SF 2 bedrooms, hardwood floors, granite counter tops, roof top patio. $599,000

HERITAGE APTS & PUB 13 small apartments. 115 seat pub leased. 1 commercial space - leased. Generating over $10,000 monthly. Asking $1,100,000

NEW WALK ON WATERFRONT TOWNHOME $509,000 NO GST, NO HST NANAIMO BUSINESS OPPORTUNITY AVAILABLE IMMEDIATELY Lease with option to purchase this Nanaimo restaurant lounge fresh food market. Popular martini lounge with adjoining fresh food market convenience store. 70 seat lounge and restaurant. 18 seat patio. All equipment. $124,500

WATERFRONT FIXER UP HOME PLUS COTTAGE On beautiful Protection Island. Sewer & water. 10 minutes by ferry to Nanaimo. $529,900

FORECLOSURE COURT ORDERED SALES 3 ACRE TOWNHOME DEV SITE Stunning ocean view up to 30 units. $995,000 FORECLOSE DOWNTOWN NANAIMO OCEAN VIEW Mid Rise Development site. Zoned C28, allows for commercial and multi family. -iÂ?Â?iĂ&#x20AC;Ă&#x160;Â&#x2C6;Ă&#x192;Ă&#x160;Â&#x201C;Â&#x153;Ă&#x152;Â&#x2C6;Ă&#x203A;>Ă&#x152;i` $695,000 26 UNIT CONDO DEVELOPMENT SITE Fabulous ocean views. 1 acre. Financing available. Approved plan with city. $795,000 FORECLOSURE OCEAN VIEW DEVELOPMENT 9 Acre, 30 lot subdivision in Chase River Quiet neighbourgood property is beautifully treed And would accommodate 30 â&#x20AC;&#x201C; 36 single family homes or small lots. Mortgager may finance. Trades welcome. Â&#x153;Ă&#x20AC;iVÂ?Â&#x153;Ă&#x192;Ă&#x2022;Ă&#x20AC;iĂ&#x160;*Ă&#x20AC;Â&#x2C6;Vi\ $995,000

HOTELS & PUBS FULLY SERVICED HOTEL Recently renovated, 30 rooms, 125 seat pub, wine and beer store. Generating over $1.5 million annually and growing. $1,790,000

38 Front Street Units for sale. Call Dale for available units.

FULL FACILITY SUPER 8 MOTEL Central/southern Vancouver Island. High profile Location. 36 rooms, with franchised restaurant that includes 125 seat pub 1.5 acre property. $3,950,000

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HOTEL & WINE & BEER STORE 8 suites, pub. Close to Nanaimo airport. $1,190,000 FOR LEASE â&#x20AC;&#x201C; JUST LISTED 115 Seat Pub. Central Vancouver Island area. >Â?Â?Ă&#x160; >Â?iĂ&#x160;vÂ&#x153;Ă&#x20AC;Ă&#x160;`iĂ&#x152;>Â&#x2C6;Â?Ă&#x192;

INCOME PRODUCING + REVENUE PROPERTIES SELLER WILL FINANCE! NEEDS WORK 2 homes, 5 suites in total. Hold or redevelop. Zoned RM-5 for condos. $439,000 NOW REDUCED TO $364,900 71 UNIT APARTMENT BLOCK 4 separate buildings. New Renos. Over $500,000 spent. North Island location. Over $27,000 monthly income. Management in Place. $2,350,000 HERITAGE APARTMENT BLOCK 13 self contained units. 1 commercial space plus lease pub & license. Gross revenue $10,000/month. Asking $999,000

DEVELOPMENT SITES NORTH NANAIMO OCEAN VIEW CONDO DEV SITE Trades Welcome. Approved plan with city for 23 units. $459,000 3 ACRE OCEAN VIEW DEV SITE North Nanaimo unrestricted ocean view. f£°£Ă&#x160;Â&#x2C6;Â?Â?Â&#x2C6;Â&#x153;Â&#x2DC; OCEAN FRONT CONDO DEV SITE 24 units, approved plan, overlooks new marina. Presale included. $1,500,000

HOME WITH SUITE ON 1.6 ACRES Subdividable property. $459,900

.

5 PLEX NANAIMO 5 meters, over $4,500 monthly revenue. Asking $749,500

JUST LISTED; FANTASTIC OCEAN VIEW RM-5 Dev site, urestricted views, overlooks cruise ship pier. Approved for 36 condos, No DCCâ&#x20AC;&#x2122;s. $729,000 NORTH NANAIMO 51 UNIT APPROVED PLAN FOR OCEAN VIEW CONDOS Over 1/2 acre site. Financing available. Asking $1,250,000 23 ACRES $459,000 43 ACRE PARCEL Subdividable into 5 acre country estates. Priced at S859,900 PANORAMIC OCEAN VIEW DEV. SITE 24 Lots approved residential subdivision property Cost estimates available. Asking $1,475,000 30 ACRE FARM â&#x20AC;&#x201C; NANAIMO Jingle Pot Area. f£°£Ă&#x160;Â&#x2C6;Â?Â?Â&#x2C6;Â&#x153;Â&#x2DC; 140 ACRE DEV. SITE Nanaimo $3,990,000

OCEANVIEW 3-PLEX South Vancouver Island. Excellent Income. $369,000

INVESTMENT PACKAGE Hold or redevelopment, ideal for condos or commercial mix. 5 Revenue homes, 5 lots together, total of 3/4 acres. Generating over $6,000 monthly. $1,150,000

DALE SHORTT Bus: (250) 758-3700 U TOLL FREE 1-800-665-8313 Ă&#x2C6;{äĂ&#x160;/Ă&#x20AC;>Â&#x2DC;Ă&#x192;Ă&#x160; >Â&#x2DC;>`>Ă&#x160;Â&#x2C6;}Â&#x2026;Ă&#x153;>Ă&#x17E;]Ă&#x160;>`Ă&#x17E;Ă&#x192;Â&#x201C;Â&#x2C6;Ă&#x152;Â&#x2026;]Ă&#x160; ° °Ă&#x160;6Â&#x2122;Ă&#x160;ÂŁĂ&#x2021;Ă&#x160;UĂ&#x160; Â&#x201C;>Â&#x2C6;Â?\Ă&#x160;`>Â?iĂ&#x192;Â&#x2026;Â&#x153;Ă&#x20AC;Ă&#x152;Ă&#x152;JĂ&#x192;Â&#x2026;>Ă&#x153;°V>

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A24 Vancouver Island/Business Opportunities

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Ă&#x20AC;Â&#x2C6;>Â&#x2DC;Ă&#x160;*iĂ&#x20AC;VÂ&#x2C6;Ă&#x203A;>Â?Ă&#x160;UĂ&#x160;Ă&#x201C;xäÂ&#x2021;Â&#x2122;xÂŁÂ&#x2021;Ă&#x2C6;Ă&#x17D;Ă&#x2021;Ă&#x201C; email: b.percival@shaw.ca Ă&#x203A;Â&#x2C6;Ă&#x192;Â&#x2C6;Ă&#x152;\

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Great Commercial / Residential Condo Acreage PRIME LOCATION IN SOOKE TOWN CORE CTC1 Zoning is Highest and Best Zoning Available! â&#x20AC;˘ 1.71 Acres, Near All Amenities.

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â&#x20AC;˘ Ideal for phased Commercial Units on ground level with Ocean View Condos above. â&#x20AC;˘ Zoning allows Medical Center, Retail, Shopping Centre, Hotel, Motel, Theatre & more! â&#x20AC;˘ Existing 2 bdrm house and detached 2 car garage. MLS 277854 Reduced to $1,350,000.

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Colin Corby & Associates 250.642.6361 Coast Capital Realty

WWWCOLINCORBYCOMscolin@colincorby.com

COMOX VALLEY,

VancouverIsland OPPORTUNITIES

VANCOUVER ISLAND ICI:

FANNY BAY INN: NEIGHBOURHOOD PUB SINCE 1938 Wonderful water view location Over $200,000 in renovations 8% cap rate with upstairs suites available for rent â&#x20AC;&#x201C; potential 9.85% cap rate Reduced to $925,000 COMMERCIAL STRATA DOWNTOWN COMOX -Hi proďŹ le, hi trafďŹ c location w/ huge street frontage -840 s.f. in prestigious Comox Quay Asking $340,000 7.5 ACRES â&#x20AC;&#x201C; ROYSTON Large property located between Trent & Broen Rd Hydro & piped water accessible from either end Reduced to $250,000

ROB PHILLIPS R. MIKE MULLIN, CGA TF: 1-800-715-3999 TF: 1-855-650-6560 Email: mullin@telus.net Cell: 250-897-8508 rob@robphillips.ca







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RURAL STORE & RESIDENCE â&#x20AC;&#x201C; BATES BEACH -.5 acre lot with great potential -1,540 sf store on ground ďŹ&#x201A;oor -3 bdrm 1,569 sq ft residence upstairs -Outbuilding & several sheds Asking $430,000 JO KLASSENâ&#x20AC;&#x2122;S RESTAURANT: -16 years, highly successful -over 46,000 meals sold per year!! -sells more seafood than any restaurant on Vancouver Island!! Asking $339,900

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ASKING PRICE $1,850,000

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Dale McCartney 1-800-638-4226 Ray Pellerin 1-800-377-4374

www.robphillips.ca Comox Valley www.coastrealty.com

1-800-661-6988

www.westerninvestor.com

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WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com

FEATURE Blue-collar clients, lower sale prices and tough financing shape northern hospitality industry

/PSUIFSONPUFMT FRANK O’BRIEN WESTERN INVESTOR ommercial realtors working across northern B.C. are on the front line of both B.C.’s rural recession and its future potential – and no market represents this dichotomy better than the motel industry, made up of hundreds of mostly mom-and-pop operations along the northern highways.

For instance, the pine beetle epidemic that has gutted northern forestry has also impacted tourism, notes Conrad Shmid-Miel, a director with the BC Northern Real Estate Boardand a commercial specialist in 100 Mile House. The forests of black, dead trees, the massive clear-cuts and the mountains of burning brush have turned off tourists, he said, and forced some motel owners to the wall. “Motel sale prices are probably down 30 per cent [from two years ago],” Schmid-Miel said. This downturn has coincided with a “generational shift,” as many longtime motel owners are trying to cash out. The result is a glut of listings and lower prices. You can purchase a13-unit motel in Cache Creek for less than the cost of a Vancouver or Calgary condo. Overnight motel clients these days, however, are more likely to be tree-planting crews than tourists. At least 15 per cent of all hotel and motel sales last year in B.C. were distressed sales, according to reports at the recent Western Hotel and Resort Conference in Vancouver. Schmid-Miel said the 2010 federal government decision to not approve the Prosperity Mine at Williams Lake – and its hundreds of jobs – may have been the last straw for Cariboo motel owners who were hoping for a turnaround. The upturn is badly needed. Motel and hotel room revenue across the north plunged 12.8 per cent in 2009 from a year earlier before a

Photo: Syber Realty

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This 38-unit motel in Vanderhoof sold for $1.25 million: prices are down about 30 per cent from the 2008 peak. Buyers are warned, though, that lenders are playing hardball.

weak recovery was seen in the first quarter of last year, when revenue increased 10 per cent from 2009, according toBC Stats. After a runup in 2008-09 – when a dozen new motels or lodges opened – construction has virtually halted. Some northern motel owners are seeing higher occupancies than the 55 per cent that is forecast for this year – but their tenants are carrying hard hats and work boots, not fishing rods and cameras. Business activity all depends on where the motels are located.

St. James, who said nearly all her clients for the $75-per-night rooms are consultants and engineers, the first wave of Mt. Milligan workers. Niho Land & Cattle Co. president Rudy Nielsen notes that, aside from the new mine, the Fort St. James sawmill has been taken over and upgraded by Conifex. Also, if ever approved, the $4 billion Enbridge pipeline project will pass close to Fort St. James, though the main benefit will be short-term accommodation for workers. Mackenzie, also within a 1.5-hour drive from )BSEIBUUFOBOUT Mt. Milligan and where the local pulp mill and Fort St. James is a prime example. The town is two sawmills have reopened, may also see a the closest service centre for the Mt. Milligan recovery in its motel market. mine, officially opened last fall byThompson Creek Metals Co., which has decided not to 'JOBODJOH provide on-site accommodation for an eventual Syd Berisoff of Kelowna-based Syber Realty workforce of some 600. Ltd. has been selling motels across the north “We are fully booked all the time,” said the for 25 years. Prices are down from the peak, he manager of the New Caledonia Motel in Fort said, and vendors – not lenders – are willing to

15 per cent of B.C. hotel and motel sales last year were distressed sales

get creative on the financing. Berisoff just sold a 38-unit motel in Vanderhoof for $1.05 million (down from the $1.14 million asking price) and has a 12-unit motel with a house in Vanderhoof for $495,000. Vendor takebacks are common, Berisoff said since it is hard to get financing on a small-town motel purchase. Others note that vendor financing is often the last resort by desperate vendors “Most of the old-timers want out and they wan cash to retire,” Schmid-Miel said Buyers of “unflagged” motels and small hotels would need at least 50 per cent to 60 per cent of value in cash to be considered for a loan, said Ron Palmer of Kelowna-based Taylor Capital Inc.“Lenders are looking hard at the fundamentals,”he said. Palmer suggested that lenders are willing to consider lending at rates around 250 basis points above posted rates on variable-rate loans, and 400 basis points for fixed-rate loans. Berisoff said he would not hesitate to recommend northern motels as a long-term buy compared with the Okanagan because of the commercial traffic potential and much lower prices across the north. Princeton, which has welcomed 340 construction workers building Copper Mountain Mining Co.’s $458-million copper and gold mine some 20 kilometres out of town, is the Okanagan exception, Berisoff said.

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While the harmonized sales tax is often blamed for further slowing motel traffic, there are some tax advantages to being in the business. If a motel owner sells the assets and reinvests in another motel business within 12 months of the sale completing, he or she can defer the payment of any federal capital gains tax. If the shares of the company that owns the motel are sold, the vendor also will not have to pay the B.C. property purchase tax. This so-called rollover provision, combined with the distressed prices and the potential of a resource recovery, may convince some investors that this may be the time to buy motels in Northern B.C.◆

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VANCOUVER ISLAND COMMERCIAL www.nanaimoremaxcommercial.com

1-877-335-4380

FOR SALE

Jay Cousins Realty

Jay Cousins jay@jaycousins.com

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FRANK JOHNSON

JAY COUSINS

of Nanaimo

Frank Johnson frank@remaxofnanaimo.com

INVESTMENT OPPORTUNITIES U TWO HIGHLY SUCCESSFUL LEARNING CENTRESÊqÊ Õ˜V>˜Ê EÊ >˜>ˆ“œ°Ê"«iÀ>̈˜}ʜÛiÀÊ£xÊÞi>ÀÃ]ÊEʅ>Ãʈ˜ÃÌ>˜ÌÊLÀ>˜`Ê>Ü>Ài˜iÃÃÊ ˆÃÊi`ÕV>̈œ˜Êvˆi`°Ê ÝVi«Ìˆœ˜>Êˆ˜Vœ“iʜ««œÀÌ՘ˆÌÞ]Êvˆ˜>˜Vˆ>Ê`iÌ>ˆÃÊ ÜˆÌ…ÊVœ˜vˆ`i˜Ìˆ>ˆÌÞÊ>}Àii“i˜ÌÊÈ}˜i`Ê $479,000

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www.nanaimoremaxcommercial.com

1-877-423-0984

INVESTMENT OPPORTUNITIES UÊ ÓÊ-/,/Ê1 /-Ê 1,, /9Ê "  ÊqÊ ,, /" Ê £]äääÊ-µ°ÊÌ°Êi>V…°Ê"ܘiÀÊܜՏ`ÊLՈ`Ê`i“ˆÃˆ˜}ÊÜ>ÊLiÌÜii˜Ê̅iÊ Ìܜ°ÊÎÊÞi>Àʜ`ÊVœ“«iÝÊ܈̅ʣxÊÃÌÀ>Ì>Ê՘ˆÌÃ]Ê«>Ûi`Ê}ÀœÕ˜`]ÊVœ˜‡ VÀiÌiÊLœVŽÊVœ˜ÃÌÀÕV̈œ˜ÊEÊLÕÃÞʘiˆ}…LœÕÀ…œœ`°ÊÊ"ܘiÀÊ܈ÊÃiÊ Ãi«>À>ÌiÞʜÀÊ̜}i̅i,°Ê$115,000 each or $210,000 for both UÊ *",/Ê  , Ê +1/9Ê " Ê *,"* ,/9Ê Lœ>ÃÌÃÊ }Ài>ÌÊ œV>̈œ˜]Ê …iÀˆÌ>}iÊ V…>À>VÌiÀˆÃ̈VÃÊ EÊ ˆÃÊ >Û>ˆ>LiÊ vœÀÊ iÝ«>˜Ãˆœ˜Ê œÀÊ Ài‡`iÛiœ«“i˜ÌÊ Vœ˜Ãˆ`iÀ>̈œ˜°Ê Ê œ˜ÃÌÀÕVÌi`Ê ˆ˜Ê£™x™Ê̅iÀiʈÃÊ>««ÀœÝ°ÊÎä]xääÊõ°v̰ʜÛiÀÊÎʏiÛiÃ°Ê<œ˜i`Ê

8‡ÓÊ >œÜÃÊ vœÀÊ >Ê Üˆ`iÊ À>˜}iÊ œvÊ ÕÃiÃ°Ê ˜vœÊ *œÀÌvœˆœÊ Û>ˆ>LiÊ $1,495,000 UÊ -1

--1Ê,]Ê ÊEÊ, 7, Ê 1- --Ê ‡Ê Ê- ÊqÊ>À`Ü>ÀiÊ>˜`ÊLՈ`ˆ˜}ÊÃÕ««Þʜ«iÀ>̈œ˜°Ê™Ê LՈ`ˆ˜}Ãʜ˜ÊÓ°ÈxÊ>VÀiÃ°Ê ÝVi«Ìˆœ˜>ÊÃ>iÃÊۜÕ“iÊ̅>ÌÊVœ˜‡ ̈˜ÕiÃÊ̜Ê}ÀœÜÊ>˜˜Õ>Þ°Ê˜Ûi˜ÌœÀÞÊ̜ÊLiÊ«ÕÀV…>Ãi`ÊÃi«>À>ÌiÞÊ œ˜ÊVœ“«ïœ˜°Ê œ˜w`i˜Ìˆ>ˆÌÞÊ}Àii“i˜Ìʅ>ÃÊLii˜ÊÈ}˜i`° Ê $2,075,000

BUSINESSES

UÊ 28,000 SQ. FT. OFFICEÊqÊ7, "1- Ê "* 8ʜ˜Ê£°xÊ VÀiðʈ}…Ìʘ`ÕÃÌÀˆ>Ê✘i`]ʅˆ}…ÊۈÈLˆˆÌÞʏœV>̈œ˜]ÊVÕÀÀi˜ÌÞÊ xÊÌi˜>˜VˆiÃʈ˜Ê«>Vi]ʓՏ̈«iÊL>ÞÃÊEʜÛiÀ…i>`Ê`œœÀðÊ,iۇ i˜ÕiÊÊÃÌÀi>“É œÀ«œÀ>ÌiÊ«ÀœvœÀ“>ʈ˜Vœ“iÊÃÌ>Ìi“i˜ÌÊ>Û>ˆ>LiÊÊ Ê REDUCED $1,950,000 UÊ - ",-Ê , Ê /9Ê qÊ  "Ê"-*/Ê, ÊqÊ *ÓÊ<œ˜ˆ˜}Ê>œÜÃʈ˜Ã̈ÌṎœ˜>ÊÕÃiÃʜÀÊÀi✘ˆ˜}Ê̜ʓՏ̈‡ÀiÃÊ V>˜ÊLiÊVœ˜Ãˆ`iÀi`°Ê Ո`ˆ˜}ÊEÊ>˜`ʈ`i>Þʏi˜`ÃʈÌÃivÊ̜ÊVœ˜‡ }Ài}>ÌiÊV>Ài]ÊÃÌÕ`i˜ÌʅœÕȘ}]ʜÀʅœÃÌiÊÕÃiÃ°Ê Õˆ`ˆ˜}ÊÈâiʈÃÊ {{]ÓxxÊ-µ°Ḛ̂ʜ˜Ê£°nÇÊVÀiÃÊ $4,500,000

UÊiÀiÊ œÀ“>˜Ê œÃ“ïVÃÊÀ>˜V…ˆÃiÊqÊ >“«LiÊ,ˆÛiÀÊ $75,900 UÊœœ`Ê"`Ê œœŽÊ ÝV…>˜}iÊ ÕȘiÃÃÊqÊ >˜>ˆ“œÊ $139,000 UÊ >˜>ˆ“œÊ->ÕÃ>}i]Ê>˜Õv>VÌÕÀˆ˜}Ê>˜`Ê->iÃÊ $149,000 Uʈ̘iÃÃÊÀ>˜V…ˆÃiÊvœÀÊ7œ“i˜ÊqÊ >˜>ˆ“œÊ $149,000 UÊ-ÕVViÃÃvÕÊ ˆÃVœÕ˜ÌɏˆµÕˆ`>̈œ˜ÊÃ̜ÀiÊqÊ>`ÞÓˆÌ…Ê $160,000 UÊ7iÊ ÃÌ>LˆÃ…i`Ê œvviiÊ-…œ«ÊEÊ >vjÊqÊ+Õ>ˆVÕ“Ê $219,900 UÊՏÊ-iÀۈViÊi>ÛÞÊ ÕÌÞÊ,i«>ˆÀÊ ÕȘiÃÃÊ $229,000

JAY COUSINS

JAY COUSINS


A26 Vancouver Island

www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR

VOJRVF QSPQFSUZ

Do you have a

Advertise your listings in our special

)051301&35*&4 feature.

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: • Limited spaces • 4-colour ads • Special rates

604-669-8500 1-800-661-6988 advertise@westerninvestor.com


Vancouver Island A27

WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com

JUDY GRAY, CCIM 1.800.600.1718

UÊ /Ê 1-/,Ê-/,/ÊÊ ³É‡£xääÊ-+Ê/ Over 20' ceilings 2 full storeys allowed. .............. $274,900 UÊ £]ÓääÊ-+Ê/Ê£n¿Ê  ÊÊ°°°°°°° $174,900

MID-ISLAND REALTY

Suite 103–1801 Bay Street, PO Box 195, Ucluelet. BC. Canada V0R 3A0

LOOKING FOR A LIFESTYLE CHANGE?? PACIFIC COAST COTTAGES Main home plus three cabins – 2, 2bdrm, 1, 1 bdrm all fully furnished rental cabins. 2.42 acre property.

UÊ ÎäääÊ-+Ê/ÊMulti tenanted commercial " , building .......................................$299,900 UÊ , /É" É/Ê 1-/,ÊÊ SPACES FOR LEASE fn°ääÊqÊ£{°ääÉõÊvÌ UÊ Ê+1/9Ê-//Ê" ÊʇÊÓ]{ääÊõÊvÌÊ .....................................................$629,000

G:HI6JG6CI ™&!,-.!%%% ™h]ZaaheVXZ ™(!*(&hf#[i#Y^c^c\$`^iX]Zc0 &!%+'hf#[i#l^cZXZaaVg0.,& hf#[i#djiYddgeVi^d0&!(+* hf#[i#[ddYhidgV\Z E6G@>C<<6G6<: ™(!)%%!%%% ™&()eVg`^c\hiVaah jcYZg\gdjcY!hZXjgZ

UÊ -/,/Ê" Ê",Ê- Ê 2nd floor vacant 2,200 sq ft ... $249,900 3rd floor leased 2,200 sq ft ...... $254,900

SYLVIA THERRIEN Personal Real Estate Corp

G:I6>A>CK:HIB:CI ™'..!%%% ™,,+hf#[i#Äc^h]ZYgZiV^a heVXZVi\gdjcYaZkZa ™'%$hf#[i#ig^eaZcZiaZVhZid GZhdgiBVcV\ZbZci D;;>8:>CK:HIB:CI ™'+.!.%% ™,(.hf#[i#Äc^h]ZY!'cYÅddg bZZi^c\gddbegZb^hZh ™'%$hf#[i#ig^eaZcZiaZVhZid GZhdgiBVcV\ZbZci

$750,000 www.pacificcoastcottages.com

FLETCHER’S COVE B & B

UÊ £°ÈäÊ Ê1/Ê9Ê°°°°°°°°°° $695,000

Cape Cod style family home. 1.56 acres, Ucluelet Harbour frontage. Separate owners living area.

UÊ °Ç£Ê Ê"7Ê,- Ê*/Ê°°°°°°°°°°° fnxä]äää

D;;>8:>CK:HIB:CI ™',.!.%% ™,+-hf#[i#Äc^h]ZY!'cYÅddg d[ÄXZegZb^hZh ™'%$hf#[i#ig^eaZcZiaZVhZid GZhdgiBVcV\ZbZci

250.385.2033 sylvia@sylviatherrien.ca www.sylviatherrien.ca

UÊ Î]ÈääÊ-+Ê/Ê, /Ê 1  Ê On .28 ac, Comox ................... $925,000 UÊ Î]äääÊ-+Ê/Ê, /Ê 1  Ê On ½ ac, Courtenay ................. $925,000 £]{ÈäÊ-+Ê/Ê, /Ê 1  Ê On .23 ac, Cumberland ........... f{nä]äää

$933,000 www.fletcherscovebb.com

8DBB:G8>6ADEEDGIJC>I>:H ViEVg`h^YZK^Xidg^V

VANCOUVER ISLAND Comox Valley

QUADRA ISLAND, B.C. GULF ISLANDS, MARINA & RESORT

UÊ £°ÈÇÊ Ê " , ÊÊ " , °°°°°°°°°° fnÓx]äää

UÊ "/Ê"1- Ê 1- --Ê * Ê,6 ,Ê 11/2 AC under glass with house, shop & 6 ac .................................................$1,900,000

Rob Samsom Waterfront home with separate BB on lower level overlooking Spring Cove, private beach.

$1,375,000 www.ebbtidespringcove.com

RAINFOREST BEACH LODGE Oceanfront overlooking the open Pacific Ocean. 4 BB rooms complete, 4 BB room unfinished, 3 staff accoms. + three 2 bdrm fully equipped cabins.

$2,595,000 www.rainforestbeachlodge.com

www.judygray.com

AACI CCIM FRI PERSONAL REAL ESTATE CORPORATION

1000' Protected MARINA,

1-888-829-7205 www.robsamsom.ca

11 Oceanfront CABINS, Office, House, Log Pavillion, Boats, Bikes, Vendor may assist with financing.

RE/MAX Ocean Pacific Realty

Subscribe

EBB TIDE B & B

CALL NOW 1-800-661-6988

$1,699,000 Wanted: INVESTOR/BUILDER for Joint Venture opportunity in Victoria BC Good profit, one year term. $1,797,000

ALAN PRATTEN

250-891-3025 FAIR REALTY, Victoria, BC

www.westerninvestor.com

alanpratten@gmail.com

DONE DEALS New! Done Deals editorial feature will highlight deal flow in Western Canada. Show the market what is moving and who is moving it. The monthly report will highlight major (basically 50K square feet or more; or land deals of $2 million or more) commercial real estate transactions that have closed within the last 30-45 days in Western Canada. FRANK O'BRIEN Editor

Please send us the following information: • What was sold or leased? • Who was the vendor (if possible)? • Who was the buyer/tenant? • If the name of the buyer is confidential, please tell what type of buyer

(i.e., REIT, institutional, local investor, foreign investor, owner/builder) • Who was the listing agent/agency? • What was the selling price?

Please forward this information directly to: Frank O’Brien, Western Investor Editor at wieditor@biv.com. www.westerninvestor.com 1-800-661-6988


A28

www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR

COMMERCIAL

RE/MAX TREELAND REALTY

RE/MAX LITTLE OAK REALTY

RE/MAX BOB PLOWRIGHT REALTY

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

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

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

BUYER/TENANT REPRESENTATION

Independent Representation for Buyers or Tenants Have your Commercial Professional source your requirements: Properties, Bylaw Compliance, Investment Analysis, Negotiations. Call or email David!

INVESTMENT OPPORTUNITY

Quality National Tenant. Full info w/ Confidentiality Agreement $5,999,000 #V4024073Call or email David!

FOR SALE OR LEASE IN CHILLIWACK

THIS SIMPLE PLAN

PROGRESS WAY INDUSTRIAL PARK BUY OR LEASE

BRAND NEW RETAIL/COMMERCIAL STRATA x14 units to choose from xLocated on busy main road xHigh visibility xFrom 746 sq. ft. to 4,654 sq. ft.

Say goodbye to your boss, and come own this turnkey biz in Abbotsford. Sales of books and teacher supplies. Easy biz to learn and owner will train.

Office above 19000 Sq. Ft. Lot – C1 Zone Application in process. Busy location – 1649 - 1665 Como Lake Avenue $1,350,000 CLS # 4023345

INDUSTRIAL OPPORTUNITY

COQUITLAM High profile end unit off United

Boulevard. 5000 square feet – 3500sf office, 1500 sf. warehouse 2 grade level doors. Leased until June 2012 – CLS # V4024075 For Sale at $925,000

DAVID KEARNEY CCIM www.davidkearney.com dkearney@remax.net

604-942-0606

Toll Free: 1-888-942-0606 RE/MAX SABRE REALTY

*R.V camp ground close to Hope, BC. Development opportunity with subdivision approved, for 49 lots. This is one of those rare offerings, act accordingly. $1,349,000.

SIMILAR

rayy@remax.net www.rayyenkana.com (listing details) RE/MAX LITTLE OAK REALTY

SPECTACULAR VIEW 36.4 ACRE PROPERTY – ABBOTSFORD One of a kind awesome view, overlooking Fraser river & Valley farms. Ideal building site for the exclusive country estate. Fully useable farmland for berries or livestock. First time offered at $2,198,000

CALL ROY MUFFORD

604-533-3491

INVESTOR ALERT Turn $7 Mill into $25 + Mill. 43ac property Langley. All services at property line, adjacent to existing subdivisions. Call for details

owners and investors xGet in at ground floor and pick your

spot today

xArchitecturally Controlled xFully Serviced Lots xWill Build to Suit xIndependent or Strata Warehouse for sale or Lease from 2,000 to 500,000 sq. ft. x20 Minutes to US Sumas Border

BU TO ILD SU IT

1 to 20 Acre Development Lots

xLocation: Lickman Rd. Interchange and Hwy 1 Chilliwack Usage: Warehousing, food processing, manufacturing, general commercial and light & heavy industrial uses. Outside storage

FOR SALE IN CHILLIWACK LIVE/WORK OPPORTUNITY xMixed use 3,250 sq. ft. building x4 Bays with in floor radiant and

xSeparate 3 bdrm, 2 bath

separate gas and electric meters xResidential units above

xClose to airport and suitable for

residential unit with 1 bay shop airport related use

SALE $689,900

FORECLOSURE PROPERTY x8,940

sq. ft. building renovated xPriced below appraised value xCompletely

xCourt

ordered sale Industrial Building xWarehouse & Office xLight

SALE $619,000

FORECLOSURE PROPERTY x11,293

xGood

xRetail

sq. ft. lot and office space xLocated Downtown Chilliwack

xPlenty

www.wildrose.canbyours.com

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

xGreat opportunity for business

SALE FROM: $183,000 OR LEASE FROM: $8/S. F. TN

DEVELOPMENT OPPORTUNITY

COQUITLAM For Commercial Ground Level, Apt or

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

YOU CAN LAUGH AT MONEY WORRIES --- IF YOU FOLLOW Buy low, allow time to compound, take advantage of tax breaks, use Professional advice.

VICTORIA - Carefree Net 8% Cap Rate

RE/MAX SABRE REALTY GROUP

street exposure of City Parking xRenovated in 2007

SALE $975,000

INVESTMENT PROPERTY

FORECLOSURE PROPERTY

xCompletely Renovated xIn Harrison Hot Springs x1,057 sf strata property x Fully Leased- 7% CAP

xIdeal opportunity for live/work xProperty is .60 acres xModular home & Restaurant xZoned C2 (HWY Commercial)

SALE $219,900

SALE $177,900

1 ACRE INDUSTRIAL LIVE/WORK PROPERTIES x2,843 sq. ft. 4 Bedroom Home xGreat living space xZoned CD14 - Outside Storage

xLight xIdeal

Industrial/Commercial for Automotive, woodwork, Machine Shop, Warehouse, Distribution

SALE $649,900

INDUSTRIAL LAND 2 LOTS - 1/2 ACRE EACH Zoned M-2 $339,000 EACH 1 LOT - 10.6 ACRES Dual Zoning M-3 & M-4 $5,350,000

Lots are level with compacted gravel base x Offering dual road frontage xManufacturing, distribution, outside storage, warehousing, food processing, etc. x

FOR LEASE Lease from $12$13/sq ft. xWell Located next to new Safeway xSpace available 850 to 7,000 sq ft xOn site parking and good access

Lease $12/sq ft. xRetail - 2,060 sq. ft. xExcellent exposure xNew tenant incentive

Lease from $6.50$14/sq ft. xOn high traffic corner x806 to 1,900 sq. ft. xWell maintained building

Bob Plowright RE/MAX Bob Plowright Realty CHILLIWACK, BC

Garth Olson Re/Max Treeland Realty 604-533-3491 realestate@garth-olson.com

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

$1,600,000 KEITH SETTER

604-533-3491

1-800-830-7175 - 604-858-7179 bob@bobplowright.com www.bobplowright.com

OFFICE FOR SALE

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

RE/MAX TREELAND


Western Investor January 2011 Section A