Business Examiner Victoria - February 2018

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FEBRUARY 2018

» CONSTRUCTION UPDATE

– PAGE 8 Mitchell Press - BW - Dark Background

SERVING VANCOUVER ISLAND SINCE 1928

SAANICH Mike Geric Construction Has Helped To Build Victoria For Half A Century

Victoria

WWW.BUSINESSEXAMINER.CA

Dodd’s, Balance Home Cleaning Top BE Awards

‘All-Star’ List Of Vancouver Island Companies Celebrated For Successful Years

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SIDNEY Hook & Hook Renovations and Design wins Chamber Crystal Award

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INDEX News Update 2 West Shore 4 Saanich Peninsula 4 Greater Victoria 6 Esquimalt 12 Who is Suing Whom 26 Movers and Shakers 27 Opinion 30 Tourism 29 HR 31 Contact us: 1-866-758-2684

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ICTORIA – Dodd’s Furniture was named Busin e s s o f t h e Ye a r a n d Balance Home Cleaning Small Business of the Year at the 18th Annual Vancouver Island Business Excellence Awards, celebrating the best of business on the island for the year, Thursday, Jan. 25 at the Delta Ocean Pointe Resort in Victoria. The sold-out event celebrated the best of the best of business on the island for the past year, and organizer Mark MacDonald, Publisher of Business Examiner Victoria, said it was a gathering of “all-stars” from across the region. “There were so many amazi ng compa n ies represented, and brain power and creativity SEE BALANCE HOME CLEANING |  PAGE 9

Balance Home Cleaning Ltd. of Victoria was named Small Business of the Year at the Jan. 25 BE Awards. Owner/operator Mattias Peemoeller is in the centre

Victoria’s Commercial Real Estate Market Is Energized 2018 Promises To Be A Banner Year For Commercial Real Estate Activity BU DAVID HOLMES

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ICTORIA – The real estate market in the Greater Victoria area is robust on all levels, both on the residential and on the commercial side of the market place. According to the Chairman of the Victoria Real Estate Boards’ (VREB) Commercial Division, while 2017 was extremely busy, 2018 promises to be even busier. “Victoria is a very busy place these days, there’s a real demand for a wide variety of properties. Couple this with a huge building boom going on, so REALTORS® of

all types, especially Commercial Realtors would have been very active during 2017,” explained Ken Featherby, who is also a Commercial Realtor with NAI Commercial (Victoria) Inc. Unlike its residential cousin, commercial real estate sales can involve a number of different sectors and even sales specialities. While Residential Realtors are typically involved with the marketing and sale of a single home, or individual condo their commercial counterparts could fi nd themselves i nvolved i n everything from bare land acquisition to putting together the

deal for a multi-million-dollar shopping complex or leasing out a multi-storey office building. T he timeframe involved in completing a commercial sale is typically much longer than for a residential property, requiring specialized skills, local knowledge and a more thorough understanding of the regional marketplace. “One obvious thing about the Victoria market is that land values are definitely on the rise because of the ongoing demand. We’re seeing an increasing number of retirement properties being built to service our aging demographic, a significant number of purpose

built rental developments and we’re also seeing a lot of ‘Double A’ and even ‘Triple A’ class office space being built, offices that will be tenanted mostly by different levels of government,” Featherby explained. “When the government is moving into new offices that automatically means that whatever they were in previously becomes vacant opening up occupancy opportunities for the next sector to move into which helps to make the market very dynamic.” T he V R EB Commercial SEE VICTORIA REAL ESTATE |  PAGE 12


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