docFOR SALE - Link to Les Twarog`s Website
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FOR SALE - Link to Les Twarog`s Website
www.naicommercial.ca
Commercial Real Estate Services, Worldwide.
LAND DEVELOPMENT OPPORTUNITY
Development Opportunity ÕÃiÃÃÊ7Ì
Ê*À«iÀÌÞ Development Land - 30+ac.
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$1,890,000 REDUCED!
$1,950,000
$1,623,000
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$600/mo/acre net (land only)
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ALEEM THAVER
778-882-2546
[email protected]
KEN KIERS or KEN HICK
604-534-7974 or 1-800-890-9855
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MERRITT, BC OPPORTUNITIES
MINI-STORAGE ON 1 ACRE PARCEL
967 ACRES
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Asking $1.475 Mil
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UÊ£xÊ°ÊÌÊiÀÀÌÌ Now Asking Only $8 Mil
MULTI-FAMILY DEVELOPMENT SITE
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UÊÀi>ÌÊÛ>iÞÊÛiÜÃÊÊÊOnly $899,000 Try Offers
LANDSCAPE SUPPLY BUSINESS
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UÊÀi>ÌÊ««ÀÌÕÌÞÊÌÊ>``ÊÕÀÃiÀÞÊLÕÃiÃÃ
Asking $169,000
+/- 300 ACRES
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UÊÊ*ÌiÌ>ÊÀiâiÊÌÊÓÊ>VÀiÊiÃÌ>ÌiÃÊÊÊ$5.9 Mil
11.4 ACRE COMMERCIAL SITE
UÊÊ-ÕÌ>LiÊvÀÊ}ÊÝ]Ê-ÌÀ«Ê>]ÊÌi°ÊÊÊ$3.99 Mil
INVESTMENT BUILDING
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ÕÌ°ÊÊÊAsking $799,000
2 SERVICE COMMERCIAL LOTSÊ
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°ÊÊÊ$199,000 EACH
FOR LEASE: 8,459 SQ. FT. SHOWROOM & W/H
U Rate: $5.50 s.f. Base
plus $2.50 s.f. T.N.
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Asking only $899,000
CHRIS LANGHAUG 604-534-7974 [email protected]
COMMERCIAL
HIGHWAY FRONTAGE
6 ACRES, LANGLEY, BC
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UÊ$6.6 million
DON MACDONALD, CCIM or KEN KIERS
604-514-6824 or 1-800-890-9855
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FOR LEASE INDUSTRIAL WAREHOUSE/OFFICE
INDUSTRIAL BUSINESS PARK
LAND FOR SALE – SURREY, BC
VANCOUVER • LOWER MAINLAND • VANCOUVER ISLAND SECTION
$ 4 . 2 9 M AY 2 0 1 0 Vo l . 2 5 / I s s u e 5
19 ROLLOVERS
AID HOTELIERS
Tax break slim wedge
into troubled market
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Avison Young principal
Robert Greer: Burrard
property only hotel sale in
Vancouver in 12 months
9 B.C.’S REAL
POWER PLAYS
Regional hospitals
deliver bigger boost
than mills or mines
29 NANAIMO’S
MIXED MESSAGE
Harmac mill back but
killed tower punches
hole in downtown plan
SPECIAL SECTION • B18
HOT PROPERTIES
R E C R E AT I O N A L R E A L E S TAT E
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UÊ$2,050,000
DON MACDONALD, CCIM
DON MACDONALD, CCIM
604-514-6824 or 1-800-890-9855
[email protected]
604-514-6824 or 1-800-890-9855
[email protected]
Build on the Power of Our Network. Over 325 Offices Worldwide.
PUBLICATIONS MAIL AGREEMENT 40069240
RETURN UNDELIVERABLE CANADIAN
ADDRESSES TO CIRCULATION DEPARTMENT:
102 EAST 4TH AVENUE, VANCOUVER, B.C. V5T 1G2
Outstanding 48,600 sf Warehouse
on Six Plus Acres
Located twelve minutes south of the border on I-5, and nestled within
the largest privately-owned warehouse community north of Everett.
For our online brochure and info on other properties available, visit
or call
www.copaccenter.com
1-360-366-3357
A2 Lower Mainland
VERNON MOBILE HOME
PARK
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OKANAGAN TERRACE
MANUFACTURED HOME PARK
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www.westerninvestor.com MAY 2010 WESTERN INVESTOR
FREEHOLD LAND AT
ABBOTSFORD AIRPORT
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INVESTMENT OPPORTUNITY:
7700 VANTAGE WAY, DELTA B.C.
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OGreat multi-family site
OHalf block from Haney Place Mall
OGood holding income
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LEE G. HESTER
DON DUNCAN / CHRIS DRIVER /
BRETT AURA
DON DUNCAN / CHRIS DRIVER /
BRETT AURA
LEE BLANCHARD /
*SEAN UNGEMACH
PERSONAL REAL ESTATE CORP.
27424 52ND AVENUE
LANGLEY, BC
FOR SALE
CIBC BANK PROPERTY
FOR SALE – 12280 + 12320
VICKERS WAY, RICHMOND
SHOPPING CENTRE SALE
WILSON CREEK PLAZA
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Centre
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WILLIAM N. HOBBS
PERSONAL REAL ESTATE CORP.
FOR SALE-INDUSTRIAL
STRATA UNITS
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*CRAIG HAZIZA
3 ACRE INDUSTRIAL SITE
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LEE G. HESTER
PERSONAL REAL ESTATE CORP.
BRAND NEW RETAIL STRATA
UNITS – COQUITLAM
FLAVIO UNTI
DAG MEYER
FOR SALE: BRAND NEW
STRATA BUILDING
NANAIMO DISTRIBUTION
WAREHOUSE
DEVELOPMENT
OPPORTUNITY
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*SEAN UNGEMACH
MICHAEL THOMPSON
PERSON REAL ESTATE CORP.
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and grade loading
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WILLIAM N. HOBBS
PERSONAL REAL ESTATE CORP.
JOHN GANTNER
CRAIG BALLANTYNE
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residential site
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future amenities
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DON DUNCAN / CHRIS DRIVER /
BRETT AURA
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*SEAN UNGEMACH
KYLE WILSON
FOR SALE / LEASE
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lease
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GREG MILES / DAVID CANNING
INVESTMENT OR OWNER
USER OPPORTUNITY
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LEE G. HESTER
FOR SALE: BRAND NEW
TILBURY WEST
CORPORATE CENTRE
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LEE G. HESTER
PERSONAL REAL ESTATE CORP.
PERSONAL REAL ESTATE CORP.
JOHN WEISS
RANDY SWANT
FOR SALE
FOR SALE
STRATA TITLED 6-PLEX
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condominiums
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ROYAL CITY CENTRE,
NEW WESTMINSTER, B.C.
OCA ft. retail
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Drug Mart
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*KEVIN MEIKLE
BURTON VANALSTINE
BURTON VANALSTINE
PERSONAL REAL ESTATE CORP.
KYLE WILSON
PERSONAL REAL ESTATE CORP.
PERSONAL REAL ESTATE CORP.
22,315 SQ. FT. BUILDING ON
2.59 ACRES – LANGLEY
BILL RANDALL
PERSONAL REAL ESTATE CORP.
FOR SALE – HIGH PROFILE
INDUSTRIAL BUILDING
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RICK EASTMAN
PERSONAL REAL ESTATE CORP.
ROYAL LEPAGE PARKSVILLE BEACH REALTY
INVESTMENT PROPERTY &
BUSINESS OPPORTUNITY
BILL RANDALL
PERSONAL REAL ESTATE CORP.
FOR SALE - FREESTANDING
BUILDING WITH YARD
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OCA6D?>13B5
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RICK EASTMAN
PERSONAL REAL ESTATE CORP.
KEVIN VOLZ
JOHN WEISS
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RICK EASTMAN
PERSONAL REAL ESTATE CORP.
3.04 ACRE DEVELOPMENT
SITE, MAPLE RIDGE
1424 BROADWAY STREET,
PORT COQUITLAM
FOR SALE - 18 UNIT
APARTMENT BUILDING
OLocated in New Westminster near
transit and all amenities
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O Well maintained, new torch on roof
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HUDGE PARMAR
DON DUNCAN / CHRIS DRIVER
/ BRETT AURA
FOR SALE - LILLOOET, BC
FOR SALE: FORT ST.JOHN
FRONTIER BUSINESS PARK
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BILL RANDALL
PERSONAL REAL ESTATE CORP.
RANDY SWANT
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BILL RANDALL
PERSONAL REAL ESTATE CORP.
FOR SALE – 10 ACRE
10.65 AC. RESIDENTIAL SITE DEVELOPMENT SITE LANGLEY
COURT ORDERED SALE
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HUDGE PARMAR
PERSONAL REAL ESTATE CORP.
BURTON VANALSTINE
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BILL RANDALL
PERSONAL REAL ESTATE CORP.
HUDGE PARMAR
PERSONAL REAL ESTATE CORP.
PERSONAL REAL ESTATE CORP.
NEW RETAIL DEVELOPMENT
LANGLEY, BC
52,334 SQ.FT. ON 5.28 ACRES
PORT COQUITLAM
OPrime corner site aDD8*DB55D1>4
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building
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OProminent business park, corner location
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RICK EASTMAN
RICK EASTMAN /
PERSONAL REAL ESTATE CORP.
KEVIN VOLZ
ALASTAIR FERGUSSON
HUDGE PARMAR
PERSONAL REAL ESTATE CORP.
BART VANSTAALDUINEN
FOR SALE
THE RIVIERA HOTEL
BRAND NEW INVESTMENT
PROPERTY IN GLOUCESTER
WEST BROADWAY
INVESTMENTS
PERSONAL REAL ESTATE CORP.
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DON DUNCAN / CHRIS DRIVER/ DON DUNCAN / CHRIS DRIVER /
BRETT AURA
BRETT AURA
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tenant
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structure
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WILLIAM N. HOBBS
PERSONAL REAL ESTATE CORP.
ERIC WALKER
Vancouver Office
604.683.3111
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, it is not guaranteed by Cushman & Wakefield. Kevin Meikle is licensed with K.H.M. Realty Ltd. and has a contractual relationship with Cushman & Wakefield. Peter Gibson is licensed with R.P.G. Realty Advisors Inc. and has a contractual relationship with Cushman & Wakefield.
*Craig Haziza is licensed with CAH Realty Inc. and has a contractual relationship with Cushman & Wakefield Inc. *Mark Trepp is licensed with Foremara Holdings Corp and has a contractual relationship with Cushman Wakefield Inc. “Martin Delafontaine is licensed with Martin Delafontaine Realty Inc. and has a contractual relationship with Cushman & Wakefield Inc.”
$0/5&/54.":
7"/$067&3
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7"/$067&3 *4-"/% 4&$5*0/
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#
HOT PROPERTIES
FEATURES
19 0/5)&$07&3#JHQMBZFSTDIFDLJOHIPUFMEFBMT
On the cover
Robert Greer, principal with Avision Young: Burrard
property only hotel sale in Vancouver in a year.
Photo: Richard Lam
3&$3&"5*0/"-3&"-&45"5&
"%7&35*4*/(%*3&$503:
Foreclosures, falling occupancies create market bargains
25 4PBSJOHMBOEQSJDFTQVTIIJHIFSEFOTJUZSFUBJM
At $1 million per acre, CRUs must replace open parking lots
29 /BOBJNPDIFFSTOFXNJMMMPTFTCJHUPXFS
31 %FBUIBOEUBYFTIBWFOFXNFBOJOHXJUI)45
2–26 -08&3."*/-"/%
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#64*/&440110356/*5*&4
11 4&37*$&4
27 4&"504,:46/4)*/&
$0"453&(*0/
Commercial realtors still confident hub city on the rebound
Download a PDF of all our Regional Roundups online at www.westerninvestor.com
28–35 7"/$067&3*4-"/%
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Funeral parlours among small biz fearful of tax regulations
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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
new industrial building for sale
$2,375,000
20,000 sf new industrial building, 12 miles South of the Border. Lease guaranteed for 12 months by owner.
$13,500 per month plus property taxes, insurance and utilities (sewer, water & power).
usda approved meat processing plant
Priced to sell at $1,525,000
Located in Lynden, very successful business. Price includes 5 acres, home, outbuilding and neat & clean processing plant.
New equipment, freezers, plus new plant improvements. For additional information, call the office.
RON BENNETT COMMERCIAL REAL ESTATE
Ron Bennett
COMMERCIAL
INDUSTRIAL
SURREY
2.3 ACRES CORNER OF
BOLIVAR & 112 ST. ZONED
CHI (HWY. COMM.)
$2,750,000 READY TO GO
(USN Ret.)
/ Owner - Broker
LANGLEY
27449, 27465, 27571 60TH
AVE. & 6028 272ND ST. 4
TITLES (ONE WITH BEAUTIFUL LOG
HOME), CLOSE PROXIMITY TO
IND. PARK, 5 RESIDENCES,
RENTAL INCOME, GREAT HOLD!
$3,950,000
SURREY
4.83 ACRES
CAMPBELL HEIGHTS
DESIGNATED BUSINESS
OFFICE PARK
HIGHLY EXPOSED 32 AVE.
$3,150,000
MAPLE RIDGE
21 ACRES DESIGNATED (IL)
LIGHT INDUSTRIAL, HWY
FRONTAGE, RIVER FRONTAGE,
HIGH END BUSINESS PARKFOR SALE/ LEASE –
BUILD TO SUIT!!!
AGASSIZ
+/- 14,410 SQ. FT. FULLY
LEASED COMMERCIAL BUILDING
ON +/- 0.274 ACRE. ZONED
CT-1 TOWN CENTRE COMM.
$1.4M
CHILLIWACK
17,000 SQ FOOT COMMERCIAL RETAIL & RESIDENTIAL
SUITE ZONED C-3 TOWN
CENTRE COMMERCIAL LOCATED IN CENTRAL CHILLIWACK FOR SALE
✓ VALUE FOR $
SUTTON GROUP
WEST COAST REALTY
✓
CALL
GOOD RETURN
1-360-671-9440 U www.RonBennett.com
LANGLEY (WILLOUGHBY)
CHILLIWACK
13.9 ACRES, HWY 1
EXPOSURE.
POTENTIAL M4/M6 IND.
ZONING
SUBDIVIDE AND
BUILD TO SUIT
ACREAGE
CHILLIWACK
10,935 SQUARE FOOT COMMERCIAL BUILDING LOCATED
ON A 0.55 ACRE PARCEL
(CONSISTING OF 0.369 ACRES
– 45860 CHEAM AVENUE
& 0.1848 ACRES – 9070
BIRCH ST.). THE PROPERTY
OFFERS ON-SITE PARKING
AND GOOD TRAFFIC COUNT.
THE BUILDING CONSISTS OF
3 OFFICE ORIENTED LEASE
SPACES (CURRENT LEASES ARE
IN PLACE)
LANGLEY
48TH AVENUE & 216TH
STREET
TWO 22 ACRE PARCELS!
LANGLEY
24 AVE. & 196 ST. NEXT TO
S. SURREY BUS. OFFICE PARK.
+/- 2.16 ACRES S. BROOKSWOOD AREA DESIGNATED
MOBILE HOME PARK W/ A
MAX DENSITY +/-8 UPA
LANGLEY
27691 DOWNES ROAD
26 ACRES WITH LARGE
SHOP AND BARN
SURREY
13924 56TH AVENUE
4.225 ACRES
POTENTIAL FOR 8 LOTS!
CHILLIWACK
51140 RUDDOCK ROAD
27.098 ACRES WITH
POTENTIAL FOR 11 LOTS!
✓ TENANT COVENANT
TWO PARCELS LOCATED WITHIN
RAPIDLY DEVELOPING YORKSON
NP 1ST PARCEL: 2.5 ACRES
DESIGNATED TOWNHOUSE (1525 UPA) 2ND PARCEL: 2.42
ACRES DESIGNATED RESIDENTIAL 8-10 UPA
✓ UPSIDE
SURREY
188TH STREET AND 80TH
AVENUE
4.915 ACRES WITH FUTURE
POTENTIAL
FOR LEASE
CHILLIWACK
+/- 2,484 SQ.FT. OF
SHOWROOM/OFFICE/MEZZANINE
COMMERCIAL/INDUSTRIAL
ZONING
EXCELLENT HIGHWAY
EXPOSURE!
9 STALLS SHARED PARKING
FENCED COMPOUND
✓ CAREFREE
fax 604-888-3261
Don Munro 604-817-7338
[email protected]
A4 Lower Mainland
ROYAL PACIFIC REALTY CORP
604 202 0424
www.zebroff.com
[email protected]
BUSINESSES FOR SALE
REDUCED
Health Fast Food V/W ..............$79,900
Sports Retail Store F/T ..............$59,900
TOO LATE
TOO LATE
Pita Restaurant W/R .............. $149,000
Industrial Equipment & Supplies
B/S includes inventory ............ $235,000
Salad Loop F/T .......................$269,000
Commercial Computer, Sales REDUCED
& Service Partnership ............ $285,000
Food Manufacurer/Distributor
L/M ....................................... $438,000
Quality Boat Manufacturer .... $458,000
C-STORE WITH PRODUCE + DELI
5791, 176th ST, Cloverdale
$3 - 3500 daily sales with or w/
out Prop Asking $199,000
OFFICE/RETAIL SPACE
FOR LEASE
TO BUY OR SELL YOUR BUSINESS
OR PROPERTY CALL
NEED QUALITY LISTINGS
ALL TYPES – HAVE BUYERS
GARRY A. WAHL
A.Sc.T.
PRESIDENT of W.B.B.A., MEMBER, COMM. DIVI.
SUTTON GROUP- WEST COAST REALTY
PH: (604) 230-6359
EMAIL: [email protected]
FAX: (604) 531-2562
Vancouver, BC
So
on
1419 Pendrell Street
Pendrell Suites
795 Keefer Street
Steve Fame
Vancouver, BC
C
om
in
g
The must see
West End listing
of the year!
A classic, always
admired, rarely
seen, until now!
Steve Fame
John Gee
Sale
50610 Trans Canada Highway
Boston Bar, BC
3 properties,
12 units,
strathcona
triple play.
6.47% projected
yield.
$2,795,000
Steve Fame
40 mobile home
pads, 3 RV pads
all located on a
25.5 acre setting.
Owen Yates
John Gee
$1,388,000
COURT ORDERED SALES
Panorama Ridge
Surrey, BC
TEL: 604.681.4111
Albion Slopes
Maple Ridge, BC
ic
4.05 Acres, Industrial Land
S/S ........................................$3.68 Mil
ASK ABOUT OTHERS
$1,988,000
RESTAURANTS FOR SALE
a) W Broadway $225,000
b) Robson ST $175,000
Major Restaurant Franchise
W/R ...................................... $650,000
INVESTOR WANTS BUSINESS WITH
MINIMUM ASSETS OF $35 MILLION
31 SRA units
and ±3,000 SF
of retail space.
Heart of Gastown.
BRAND NEW IL ZONED
WAREHOUSE
4029 SF, Bodyshop/automobile OK
3993, HASTINGS ST, BNB
C-Store daily $ 2-2200
Asking $88,000
12.1 Acres, Whistler .................$1.0 Mil
33 West Hastings Street Vancouver, BC
BRAND NEW BUILDING
ANCHORED BY 7-ELEVEN
14410-108 AVE, Surrey
Projected NOI 165,000
Asking $ 3.35 Million
PLAZA NEXT TO CORNER OF
72AVE & 120ST
Concrete tilt up, CD Zoned,
1.683 Acres, 32,000 SF Built-up,
85 parking stalls @6.5% cap
Asking $7,200,000.00
TEL: 604.681.4111
e
Peter Zebroff
MULTIFAMILY
JAVA HUT FRANCHISE FOR
SALE #304, 6361 152ND
STSurrey Asking $350,000.00
FAST FOOD FRANCHISE
RESTAURANT FOR SALE
IN DELTA Asking $435,000
Pr
10 br, 8 baths, 3 kitchens and squash court
PLA to subdivide one half acre lot off 1.17 acre
without changing existing house
Asking $1,500,000
Investment Opportunities
d
SOUTH SURREY FAMILY
PARADISE 5860 SF
Colliers International
ed
uc
e
85 seats grossing $100,000/mo for 14 years
Reasonable lease rate for next 12 years
Vendor may carry up to 50%
Asking Price: $899,999
MAURYA RESTAURANT BLDG
1641, 1643 W Broadway, Van
NOI 137,280 Rent goes up by
10% in 2012 Res. Studio suite +
1 car parking for owner
Asking $ 3.75 Million
R
NEIGHBOURHOOD PUB
GREATER VANCOUVER
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
9.26 acre residential land opportunity in
Panorama Ridge area.
Sam Nakhleh*
$4,900,000
Jas Sandhu
38.5 acre single family and multifamily
development site.
Manjit Claire, Morgan Dyer
Sale
Hart Buck
760 Queens Street
9685 Agur Street
Victoria, BC
Summerland, BC
Contact Praveen Bajaj
778-858-0459
[email protected]
Coastal Rlty Ltd
87 unit hotel/apartment building on
23,022 SF lot.
Hart Buck
$6,100,000
Grant Evans
30,000 SF industrial building ideal for
manufacturing on 2.65 acre lot.
Hart Buck
$2,795,000
Eric Weber*
UNIQUE PROPERTIES
Tel: 604.681.4111
WFP - South Island Portfolio
Vancouver Island, BC
Golden Eagle Shores
Forestry/recreational land portfolio
with 34 titles. 4,600 acres.
Mark Lester*, John Boer
Sale
Alan Johnson
90 acres of waterfront on Okanagan Lake.
Development potential.
Alan Johnson
Sale
Mark Lester*
Port Sidney Marina
Kingzett Lake
Port Sidney, BC
Premium full service marina with
35,000 lineal feet of moorage.
Mark Lester*, Alan Johnson
$22,500,000
Ken Cloak
Vancouver Island, BC
568 acres of prime development land
on Vancouver Island.
Mark Lester*
$6,950,000
Alan Johnson
www.UNIQUEPROPERTIES.ca
The Unique Properties Marketing Group is a team of experienced real
estate professionals dedicated to providing superior brokerage and advisory
services relating to specialty real estate assets including; private islands and
waterfront estates, exclusive ranch properties, agricultural portfolios, resort
and recreational properties, golf courses, ski resorts, marinas, timber and
resource properties, land development opportunities and much more.
* Personal Real Estate Corporation. PO#10920
www.colliers.com/vancouver
Vernon, BC
Lower Mainland A5
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
APARTMENT BUILDING SPECIALIST
KITSILANO
NEW WESTMINSTER
ALDERGROVE
22 Units – Walk to beach
Sought after location
Gross Income $284,705
22 Units – Near Skytrain
Owner operated 30 years
Gross Income $216,917
11 Units Commercial/Residential Mix
Recently renovated
Gross Income $88,704
PORT ALBERNI
LANGLEY
EAST VANCOUVER
37 Units – 2 buildings
Downtown central location
Excellent Cap Rate at 7.71%
11 Units –
Totally
renovated
Stable
tenant base
Gross Income
$111,672
14 - 2 Bedroom Units
Balconies, garages, 5 appliances
Gross Income $148,294
Plus many other listings! Visit our website at www.billgooldrealty.com for more information.
SELLING YOUR COMMERCIAL PROPERTY? CALL us TODAY!
Lindsey Gauthier
604.798.2977
[email protected]
6"*ÊUÊ1ÊUÊ-,6
Angela Gauthier
604.798.2970
[email protected]
-*
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"1 /Land use due diligence, preliminary design consulting
◆ Pre-construction phase: estimating, scheduling and coordination
of consultants
◆ In-house team of professionals capable of managing multiple projects
◆ Extensive network of consultants, suppliers and sub trades
◆
1 COMPLETE BLOCK
COMMERCIAL STRIP MALL
CHILLIWACK
ÊÃ}ÊÊ$2,400,000 ȰǯÊ
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12 tenants, fully leased
Land: 32,661 sq ft (approximately)
Building: 18,462 sq ft (approximately)
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$750,000 7% CAP w/ excellent covenant
Land: 8,407 sq ft (approximately)
Building: approx 2,813 sq ft
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Contact:
CHILLIWACK
Building 1
Unit
SQFT
101
809
102
809
103
809
104
746
Building 3
Unit
SQFT
301
1018
302
899
303
899
304
899
DARREN JOHNSON
Price
SOLD
SOLD
$199,000
$183,000
Price
$282,000
$220,000
$220,000
$220,000
Building 2
Unit
SQFT
201
1809
Price
$556,000
Building 4
Unit
SQFT
401
1666
402
1081
403
1201
404
1081
Price
$410,000
$249,000
$277,000
$249,000
604.888.1717
email:
[email protected]
ANDY ADAMS
604-273-3155
YOUR
BUSINESS
HERE!
CHILLIWACK Laundromat and Car Wash ........$49,000 Priced to sell
Cash business, 22 washers, 19 dryers, 3 bay car wash, pet wash
Vendor motivated. Owner retiring. Assets only (No books)
LEASE SPACE
9256 Main St
1200 sqft $1,000/mo
9248 (B) Main St 650 sqft $550/mo
9242(A) Main St 1000 sqft $900/mo
sutton group showplace realty ltd.
46263 Yale Rd 800 sqft $900/mo
46260 Yale Rd 1800sqft $1800/mo
1-888-355-6771 Suttoncommercial.ca
PETER ADAMS
2 Auto Repair Centres
in Richmond
Connected to major oil
co. Buy separately or take
both! $250,000/$275,000
Call TODAY
for our
complimentary
marketing
package!
Richmond Grocery /
Convenience Store
Busy Corner Location
Next to Large
new Daycare!
Historic Steveston
Established
Ice Cream Shoppe
Ready for Summer
Qualified Clients Looking for Strip Malls, Pubs and Acreages
A6 Lower Mainland
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
)45DPVMENBLF#$BQSPWJODFPGPVUMBXT
*
f the B.C. government proceeds
with the planned introduction of
the 12 per cent harmonized sales
tax, it will create a province of outlaws. In fact scores of companies
are already breaking the law and thousands
of consumers will likely join them when the
HST kicks in.
A long-shot chance to kill the controversial tax, led by former premier Bill Vander
Zalm, has until June to amass
300,000 signatures under the
Recall and Initiative Act – 10
per cent of registered voters
in each of B.C.’s 85 electoral
districts. We wish the canvassers well, but
the odds are not in their favour, despite the
fact that 80 per cent of B.C. residents oppose
the new tax.
Even if enough people sign on, the
Liberal government could use their majority to kill the initiative if it ever comes to a
vote.
So the HST will very likely come into
effect in B.C. on July 1, and the illegal activities will begin.
Many B.C. consumers, who have swallowed the carbon tax and recent fee increases
on everything from hydro bills to camping
fees and ferry fares may feel that the HST is
the last straw.
The law-breaking is already blatant. It
is illegal, for instance, to advertise that consumers can “beat the HST” if they buy before
July 1, yet such ads are running today across
the province.
Under expected changes to the “placeof-supply-rules” it would be illegal to buy
materials in HST-exempt Alberta and bring
them into B.C. without paying the tax.
Also, someone in B.C. selling a product into HST-free zones will
likely have to charge the HST.
Or would a company set up
a dummy address in another
province or country to avoid
the tax? In Blaine, WA, for instance there are
already hundreds of post office boxes owned
by Canadians, who may be tempted to use
the U.S. address to avoid the HST.
Planning a home renovation? If you hire
a legitimate contractor, he or she will have
to charge you 12 per cent, including the first
provincial tax of 7 per cent on labour. “We
expect a huge spike in underground renovations,” a top Vancouver renovator told us,
“people are already asking me if I will work
[illegally] for all cash.”
Want a haircut? It will cost you
12 per cent more, unless you visit a
“friend” who will cut it for cash – and there
will be a lot more of these friends around.
8&45&3/
1&341&$5*7&
The HST has many crime-inducing
wrinkles. Some B.C. condominium investors, for instance, have pre-purchased new
units to rent with the belief that they will be
able to qualify for the HST rebate on new
homes. But there is no guarantee. Would it
be possible that the builder could “live in”
the unit for a few months so it will qualify
as a resale, exempt from the tax? After all,
the HST on a new $700,000 townhouse is
$57,500, even after the $26,500 rebate.
It took very little imagination to bring
in the HST. The real innovation will be seen
in the ways that consumers find to avoid it,
which, of course, we don’t recommend or
condone.
/&95.0/5)
Western Investor presents a report on waterfront real estate – and there are some deals to
be had. We also present a primer on buying
foreclosures, update native land developments and carry special recreational coverage
on fishing lodges. Our regional reporters file
from Grande Prairie, Kamloops, Steinbach
and Ucluelet.
Publisher Cheryl Carter
Editor Frank O’Brien Contributing Writers, Susan M. Boyce, Dave
Husdal, Geoff Kirbyson, Glen Korstrom, Peter
Mitham, Kevan O’Brien, Andrew Petrozzi,
Stephen Pyle, Joe Ralko, Copy Editor Baila
Lazarus 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
FRANK O’BRIEN
June 2010 issue:
May 10, 2010
EDITOR
[email protected]
G ET I N T OU C H W I T H Y O U R I N N E R P E R F E C T I O N I S T.
2010 Lexus ES 350
MSRP
CASH PURCHASE
ADJUSTMENT
CASH PURCHASE
PRICE
Includes Freight and PDI
43,845
$
3,000
$
40,845
$
*
**
***
YOUR NORTHSHORE LUXURY STORE
Lease or Finance
1.9%
*MSRP for 2010 Lexus ES 350 sfx‘A’ is $43,845, which includes freight and PDI ($1895.). Battery, A/C and tire levies ($130), taxes, insurance and registration are extra. Cash Purchase price for ES 350 is ***$40,845 after
cash discount of $3000. **3,000 Cash Incentive offer available on 2010 ES 350 models for all retail customers. $3000 cash purchase incentive is not available to customers who lease or purchase through Lexus Financial
Services at a special rate of interest offered by Lexus as part of a low rate interest program. Lease and fi nance rates of 1.9% up to 48 months are based on approved credit. Offer expires at month’s end unless extended
or revised. See Jim Pattison Lexus Northshore for complete details.
Bob Scragg
4
604-982-0033
www.jplexus.com
phone: 604-290-2906
email: [email protected]
www.fraserpark.net
VANCOUVER ESTATE
Most prestigious estate in Vancouver
3.5 Acres – 14,000 sq ft home.
Indoor & outdoor pool, tennis court,
6-horse stable, ½ acre lake.
$16,500,000
VANCOUVER
16 8
21 INDUSTRIAL LOTS $400,000
WAREHOUSE for lease/sale
4,000 SQ FT WAREHOUSE $800,000
INDUSTRIAL
RICHMOND 5 acres & 13 acres
SCHOOL RICHMOND
1.7 Acres on two parcels (.85 Acres ea.)
7 Classrooms, gymnasium, playground.
View at www.fraserpark.net
$2,750,000
SURREY 17 Acres (rail) & 3 acres
WHISTLER 16 Acres lease / option,
D1130
Lower Mainland A7
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
For more information visit our website
Vancouver Office 604 687 7331
s
FOR SALE – 7770 & 8398 North Fraser Way, Burnaby
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13450 Gateway Drive,
13479 108th Avenue, Surrey
Gateway Business Park
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FOR SALE – 1518 Columbia Street, North Vancouver
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FOR SALE – 8424 Aitken Road, Chilliwack
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FOR SALE – 144 & 174 176th Street, Surrey
s#/524/2$%2%$3!,%
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FOR SALE – 12294 104th Avenue, Surrey
sACRES
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FOR SALE – 9771 186th Street, Surrey
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SOLD – 79 Acres of Residential Land
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s!MAZINGVIEWS
3PC(SFFS.BSL)BOOBI
FOR SALE – 550 Denman Street, Vancouver
s/WNER5SER)NVESTMENT/PPORTUNITY
s3PECTACULAR7ATERFRONT,OCATION
s4WO-ARINA3LIPS!VAILABLE
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FOR SALE – Chemainus Retail Properties, Chemainus
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FOR SALE – 7217 Lantzville Road, Nanaimo
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FOR SALE - 22 Unit Multi-Family, Campbell River
FOR SALE – 92 East Hastings Street, Vancouver
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FOR SALE – 1298 West 10th Avenue, Vancouver
sUNITMULTIFAMILYAPARTMENTBUILDING
s5PGRADESCOMPLETEDBETWEEN
sTOTALGROSSREVENUENOVACANCY
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FOR SALE – 46278 Yale Road, Chilliwack
s%XCELLENTSUITEMIX
s#OMPLETELYRENOVATED
s3UB#AP2ATE
s!TTRACTIVE#-(#!SSUMABLE&INANCING
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FOR SALE – 4862 & 4866 Fraser Street, Vancouver
s0RIME2ETAIL3PACE
s)MMEDIATELY.ORTHOF&RASERRD!VENUE
sSF
s
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FOR SALE
FOR SALE – Award Winning Heritage Office Bldg., Cranbrook
s3ALELEASEBACKOFSFATSF
s,ARGESTOFlCEBUILDINGINTHE%AST+OOTENAYS
sSFFREESTANDINGBUILDING
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1550 East Hastings Street, Vancouver
s0RIME#OMMERCIAL0ROPERTY
s(IGHTRAFlCEXPOSURE
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sSFSITE
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A8 Lower Mainland
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
THERE’S
MORE
TO THE
PERFECT
SPACE
THAN JUST
SPACE.
The information you need to make smart real estate decisions is not
always easy to find. Get a Commercial REALTOR®’S perspective and find
the perfect space for your business.
www.howcommercialrealtorshelp.ca
The REALTOR® trademark is controlled by The Canadian Real Estate Association (CREA) and identifies real estate professionals who are members of CREA.
A9
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
FEATURE Forget mills and mines: regional hospitals now major job generators across British Columbia
3FBMQPXFSDFOUSFT
SUSAN M. BOYCE
WESTERN INVESTOR
magine a new state-of-the-art B.C.
manufacturing plant or pulp mill that
is non-polluting, has unlimited client
demand and hires hundreds of people, paying each close to six figures a year. Such a
private-sector play remains a dream – but
when it comes to medical facilities it is the
new reality.
*
Photo: Northern Health Authority
'PSU4U+PIO
Photo: Abbotsford Regional
Hospital and Cancer Centre
Regional hospitals are becoming the latest
power centres for employment in urban and
rural B.C. – and the growth appears unlimited
in a sector where provincial spending is expected to reach $16 billion annually by 2013.
B.C.’s silver-haired population is the fastest growing in Canada, and projections suggest that within the next decade the number of
people retiring here will outpace those entering the workforce, and the number of residents
over the age of 65 will overtake the number of
the province’s school-aged children.
Almost every regional health authority lays
claim to servicing the “fastest growing” seniors
population in B.C., but one thing is undeniable:
as this chronological schism becomes increasingly more pronounced, demand for medical
services – especially long-term care and treatment of chronic diseases most often associated
with the elderly – will rise dramatically.
However, no matter where the grey wave
is strongest, the demand translates into the
potential for hospitals and medical services
to become big-time economic drivers. Since
2001, the province has invested $5 billion in
hospital construction and upgrades and has earmarked a further $2.5 billion in capital projects
over the next three years.
patients were admitted and 1,342 discharged,
817 CAT scans and 138 MRIs were performed,
and approximately 3,900 people were admitted to emergency. With emergency room visits alone predicted to top 45,000 per year, it’s
small wonder Willis says the facility’s 1,300stall parkade is already often maxed out.
ABOVE: Abbotsford’s new $355 million regional hospital: 5,000 full-time jobs. INSET:
The $297.9 million Fort St John Hospital and Residential Care project is being built on a
40-acre site: It is creating well-paid jobs in a hard-hit northern B.C. community.
Centre (ARHCC) opened on August 24, 2008,
and is visionary in designing what many consider the new breed of regional hospital. This
is the first acute-care hospital in Canada built
to LEED gold standards as well as Western
Canada’s first acute-care hospital built using
the public private-partnership (P3) model common in other government projects.
“This is the same model used to build the
Sea-to-Sky Highway and the Canada Line
Rapid Transit expansion among many others,”
notes ARHCC general manager Doug Willis,
adding his prediction that P3 will soon become
the way of the future in the medical-provider
sector.
A 56,000-square-metre (600,000-squarefoot) state-of-the-art facility that provides a
vast array of much needed services including
GVMMUJNFKPCT
Leading the way for a new model of pro- MRI, general surgery, nuclear medicine, renal
curement, the award-winning $355 million dialysis, specialized obstetrics and pediatric
Abbotsford Regional Hospital and Cancer services, the facility is a community hospital
to 150,000 Abbotsford residents and a regional
referral hospital for 330,000 residents in the
Fraser Valley. It also offers several enhanced
programs, including a new, fully integrated
cancer treatment centre as part of the BC
Cancer Agency provincial network.
Like other capital projects, the economic
spin-off commenced long before the first
patient was admitted.
During the approximately three and a half
years it took to go from vision to reality, Willis
indicates there were upwards of 600 construction jobs created – many of them providing
long-term employment for local residents.
Specialists were also recruited from across the
country when necessary.
Today, the hospital employs some 5,000
people (including associated non-clinical support services and maintenance). During the
first month of operation alone, 148 babies were
delivered, 542 surgeries were performed, 1,555
Covering almost two thirds of BC, the
Northern Health Authority is geographically
the largest of the province’s five medical areas
but with a population only now approaching
350,000. Currently the largest of eight capital
projects with budgets of $2 million or more,
the $297.9 million Fort St John Hospital and
Residential Care project is being built on a
40-acre parcel of land donated by the City of
Fort St John.
Replacing an aging 1962 facility, this
5,000-square-metre (54,000-square-foot)
development will include a 55-bed acute-care
hospital (an increase of 11 from the existing
facility’s 44 beds), a 123-bed residential-care
facility and an integrated services centre for
food, laundry and other services. The emergency department’s size will be more than double
that of the existing ER, and two new operating
rooms, an endoscopy suite and single-room
maternity care will be added.
Like the one in Abbotsford, this hospital will
be designed to achieve LEED gold certification and is a fixed-price P3 project between
Northern Health and ISL Health. ISL will
design, build, finance and maintain the new
facilities over the 30-year contract leaving
Northern Health to provide the clinical and
medical care. Opening is anticipated for summer 2012.
$SBOCSPPL
In Cranbrook, a $32 million 69-bed expansion
to East Kootenay Regional Hospital has
been recently completed to bring full regional
referral services including obstetrics, internal
medicine, general surgery and orthopedic surgery to the eastern most part of the Interior
Please see Jobs page A10
-PXFS.BJOMBOE
FOR LEASE
INVESTORS WANTING
TO BUY!
We need properties, Lower Mainland, LARGE OFFICE SPACE. 3464 sq. ft.
Good locations. $1 Million - $5 Million 5 private offices, small kitchenette, 10
with good cap rate of 5% +++
parking. Please call Sandi
FOR SALE
FOR LEASE OR SALE
NEW
LISTI
NG
Nicely Improved office space. North
PRIME YALETOWN OFFICE SPACE –
1,417 sq. ft. or 1,391 sq ft with parking. Vancouver, close to Capilano Rd and
Lions Gate Bridge, 1,503 sq. ft.
Please call Sandi
Please Call Sandi
Dexter Associates Realty Commercial Real Estate, Your Trusted Advisors:
Larry Traverence, Sandi Fratino
Call 604-689-8226 for results
“We are focused on achieving the results YOU want.”
A10 Lower Mainland
TOWNHOUSE BUILDING SITES
Call Re: 50 to 75 unit properties in Maple
Ridge & Surrey with 3rd reading approval.
BUILD TWO MANSIONS
Fabulous Panorama Heights with Fabulous
$4,500,000
ocean view.
INVEST WITH HUGE BONUS
Large rental building with apartment
Condo site included (150+ unit site).
Top downtown Abbotsford location.
RAY LEWIS
West Coast Realty
Langley
604-812-9733
Eg^bZHigViVHeVXZKVcXdjkZg
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sPrime high traffic locations#LOSETOTRANSIT'RANVILLE)SL
s,OTSPUBLICPARKINGs"EAUTIFULLYRENOVATED
s/FFERED $560,0000LUSOPTIONFOR"USINESS
BVgn:aaZcBVVh^`
+%)"+*,"--+*
bbVVh^`5hjiidc#Xdb
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
tors and researchers who will be graduating
from our university and will help to meet the
Health Authority’s service area. In a region increasing demand for medical services in our
hard-hit by the declining natural resources communities,” said Kelowna-Lake Country
sector, 800 direct jobs plus spin-off services MLA Norm Letnick.
give a welcome boost to the local economy. A
replacement gamma ray camera has also been 7BODPVWFS*TMBOE
approved so nuclear medicine diagnostic test- On Vancouver Island, the 500-bed, $280 miling can be carried out locally rather than neces- lion expansion to Victoria’s Jubilee Hospital is
sitating a trip to Kelowna.
well underway with approximately 620 on-site
Long known as a destination for active retir- construction jobs – many highly specialized
ees, Kelowna received an ancillary economic trades people – and another 75 positions being
boost to their flagging residential construction filled by professionals, including architects and
industry earlier this year with funding approved planners.
for a new Interior Heart and Surgical Centre
“In hospital construction, it’s typical for 30
expansion at the Kelowna General Hospital. to 35 per cent of the construction trades to be
The new facility will include a 12,970 in electrical and mechanical because requiresquare-metre (139,590-square-foot) building to ments are more stringent and technical than
house the Interior Heart and Surgical Centre, a other commercial/industrial construction,”
new 7,850-square-metre (84,570-square-foot) said Rudy Van de Broek, chief project officer
clinical support building, and renovations to for the Vancouver Island Health Authority.
the existing Royal and Strathcona buildings. Requirements, he explains, include 100 per
The Central Okanagan Regional Hospital cent HEPA air filtration, acid waste discharge
District will contribute approximately $91.3 capacity, lead lining in radiology rooms and
million to the $448.2 million cost, with the bal- electrical cables entirely encased in separate
ance coming out of provincial coffers.
conduits.
Over the life of the project, the Interior Heart
Also, a new $18.8 million emergency room
and Surgical Centre is expected to create more is being completed at Victoria General
than 2,800 construction-related jobs. Once fully Hospital.
operational in 2012, the centre will allow some
In Nanaimo, the Vancouver Island Health
1,600 cardiac patients each year to receive the Authority has taken bids for the $38.6 million
care they need closer to home and will make expansion of the Nanaimo Regional Hospital.
Kelowna the fifth area of the province to pro- Work on a new parking lot and access road is
vide a complete cardiac program.
already underway, and work on the new emer“This centre will also provide jobs for doc- gency room will start this summer.◆
+0#4from A9
'VOEJOHDIBOHFGPS
QSJWBUFSFTJEFODFT
B
eginning this year, B.C.’s publicly funded residential-care system underwent
a change in payment structure. Effective
January 2010, residential-care clients pay
minimum monthly client rate of $894.40
or 80 per cent of their after-tax income
to a maximum of $2,932 per month. This
new structure is anticipated to allow most
clients a minimum of $275 a month to
cover personal expenses and incidentals,
however a case-by-case hardship review is
available to ensure no one is turned away
due to financial restrictions.
Private-pay facilities come with a
broad range of pricing. A comfortable,
independent-living studio-style apartment with meals provided typically runs
between $2,200 and $2,600 per month
in Vancouver, $1,800 and up per month
in other areas of the province. However,
high-end facilities that resemble a fivestar hotel more than a hospital can easily
exceed $4,500 per month. Once extendedcare is require, it’s all but impossible to
find any private pay residences with rates
below $5,000 per month.
In both cases, waiting times can be
months or even years in the case of the most
prestigious facilities, although privatepay typically has shorter waiting lists.
SUTTON WEST COAST REALTY LTD
VIETNAMESE RESTAURANT
ALDERGROVE, BC
• High traffic mall location
• Open 7 days per week
• 50 seat license
• Established 3 years
• Modern kitchen & fixtures
Priced at only $98,000
and open to offers.
Hurry for this opportunity!
INVESTOR ALERT!
PRIME DEVELOPMENT OPPORTUNITY
NEW WESTMINSTER BC - UPTOWN NEIGHBOURHOOD - NEAR ROYAL CITY CENTRE
!002/6%$s5.)43s2%3)$%.4)!,,)6%7/2+
SFs34/2%9()'(2)3%4/7%2
$4,588,000
).&/0!#+!'%!6!),!",%
START CONSTRUCTION TODAY!
For more information, contact
DON FORSYTHE
604-520-6829
KE Worldwide Real Estate Services
DON EDRA
778-858-9566
[email protected]
KEN EDRA
604-307-6889
[email protected]
Lower Mainland A11
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
" 5 ) , $ % 2 3 s $ % 6 % , / 0 % 2 3
2 % ! ,4 / 2 3 s ) . 6 % 3 4 / 2 3
We can arrange
MORTGAGE
FUNDS
for all your Commercial
or Industrial Needs
LEAKY CONDO
FINANCING
Full Building Repairs & Upgrades
PFS Paramount Financial Services
div. of Paramount Holdings Ltd.
MORTGAGES
Commercial - Industrial - Multi-Residential
604-552-4392
www.CommercialFinancing.ca
All inquiries to
[email protected] or
phone Bob Williams @ 604-533-8288
Experienced Commercial
Financing Specialist.
Financing solutions for all situations.
Commercial Mortgages,
Land Development & Construction
Financing, Business Lending,
Leasing
Phone: 604 510 0030
Email: [email protected]
BUSINESS LOANS
Acquisitions - Expansion - Equipment - A/R
Full Property Management Services
(Residential and Commercial)
including Facility Management Services
in Victoria and Prince Rupert, B.C.
Contact Duncan MacKenzie
1-250-658-8060
[email protected]
www.randallnorth.ca
www.donaldross.ca
Commercial /
Private Mortgages
Been turned down by your lender for
financing? Need quick funds?
No mortgage is too big or too small.
Call me now
for a FAST APPROVAL!
AJIT HUNDAL
TMG The Mortgage Group Canada
Telephone: 604-614-6899
Toll Free: 1-866-614-6899
COMMERCIAL
MORTGAGES
FOR ALL TYPES OF COMMERCIAL PROPERTY:
- Apartment buildings
- Multi-Family & Mixed-Use
- Retail/Strata Office/Warehouse
- Hotel/Motel
- Land acquisition/servicing
- Construction/Development Loans
• Fast Approval • Purchase or Refinance
The Origin Group — Mike Lee
604-565-6370
1-877-848-6370
Email: [email protected]
BRITISH COLUMBIA
Commercial Mortgage Financing
Brian D. Kennedy 604-331-2211
Jonathan P. Wong 604-331-2218
MORTGAGE FINANCING
For all your real estate financing needs
www.peoplestrust.com
s$OMINION,ENDING#ENTRESARE#ANADASPREMIERONLINEMORTGAGELENDERANDONE
OFTHEFASTESTGROWINGMORTGAGECOMPANIESNATIONWIDE
s$OMINION,ENDINGPROVIDESPRIMECOMMERCIALFINANCINGFORAWIDERANGEOF
COMMERCIALPROJECTSSUCHAS
s-ULTIFAMILYRESIDENTIALRENTAL#-(#CONVENTIONAL
s#ONDOMINIUMINTERIMCONSTRUCTION#-(#CONVENTIONAL
s/FFICEn2ETAILn)NDUSTRIALn(OSPITALITYn-IXED5SE
s#ONGREGATECAREASSISTEDLIVINGnLAND
s-ORTGAGEDEBTCONSULTATIONANDRESTRUCTURING
For further information regarding Dominion Lending
and our lending parameters, please contact:
(--IKE3METHURST
Dominion Lending Centres Westcoast
n-ARINE$RIVE
7EST6ANCOUVER"#64"
Phone:
Fax:
Email:MSMETHURST DOMINIONLENDINGCA
ALBERTA
Dennis K. Aitken 403-205-8203
Doug G. Eveneshen 403-205-8202
As an APPROVED LENDER CMHC CORRESPONDENT,
we are able to provide you with the most
competitive terms available.
Enquiries invited.
A12 Lower Mainland
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
Each office is independently
owned and operated.
WAREHOUSE SALE
1588 sq ft warehouse and finished office upstairs. Bylaws require clean quiet
type of business. 143 –12520 Horseshoe
Way, Richmond. Asking $269,000.
WAREHOUSE LEASE
2100 sq ft warehouse with small office,
on one level. 8 – 7157 Honeyman, Ladner. $1,600/month.
RETAIL LEASE
1406 sq ft , located in shopping centre
across from Ironwood Plaza. 130-11080
No 5 Road, Richmond. $3,600/month.
HAROLD SHURY 604.279.8026
RE/MAX Westcoast Realty
www.haroldshury.com
[email protected]
BOSTON PIZZA
Two BC locations available
Priced at $750,000 & $950,000
MOTEL, 30 Room motel, (8 rooms with
kitchens) plus very large manager suite. Well
established, buildings in absolutely great
condition, after major renovations. Offered for
only $1,188,000
FLOWER SHOP / FLORIST, in West Vancouver,
includes: coolers, equipment, leasehold
improvements, and inventory asking $42,000
ONE ACRE OF COMMERCIAL LAND, could be for
camp - ground, RV or mobile home park facing
Hwy 101 - $298,000
RESTAURANT, - 1/2 acre land, on Hwy 101,
immediately next to the ferry stop, great
location & great traffic - offered for $498,000
9.46 ACRE LOT, Mission area, ready to build
your dream home, septic field prepared and
approved, well drilled and 3 sets of building
plans could be made available, asking
$399,000
COMMERCIAL / RETAIL BUILDING, busiest
location on E. Hastings St. Vancouver, 3000
Sq Ft, with guaranteed income - offered for
$1,188,000
Only 35% down O.A.C
DELI - TRI CITY, many years in business, offered
for $248,000
Boston Pizza is
CANADA’S NUMBER 1
casual dining brand.
WHITE ROCK - home, spectacular ocean view,
ready for building dream home, quiet street, offered for $899,000
;dg9ZiV^aZY>c[dgbVi^dcEaZVhZ8dciVXi/
IAIN MACDONELL
(604) 328-3929
RE/MAX SELECT
PROPERTIES
WWW.MACDONELLS.COM
LORNE CHERNOCHAN
604-880-0550 (cell)
WESTCOAST
(604) 275-5759
Please call
RICHARD PODGURSKI
RE/MAX Masters Realty
604-961-5665
[email protected]
www.expertrealty.ca
Cell:
COMMERCIAL DRIVE
MEXICAN RESTAURANT
COMMERCIAL DEVELOPMENT
SITE - LANGLEY
"Me & Julio Modern Mexican Kitchen"
2095 Commerical (at 5th) - 2 am license
on weekends, 1 am on weekdays. 2,000
sq. ft. totally renovated 90 seat restaurant
with outside patio for another 24 patrons.
Sales $2 mil/yr, Net $100K/yr Lease
$5,500 / mo (all in including taxes) 5 yr
+ 5 yr option. (Now in 3rd year of 1st 5
year term).
$475,000
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?)
$2,336,000
DENMAN STREET
VIDEO STORE
DOWNTOWN MEXICAN
RESTAURANT
976 Denman St – “Indendent Flixx
Video” Store has best and widest selection
of “Hard to Find” titles. In business for over
10 years with over 100,000 videos. Sales
$220K/YR, Net income $45K with owner
working 30 hours per week.
$142,000
"Anadale’s Mexican Restaurant".
1175 Davie at Thurlow. Established for 22
years. 48 seats. Lease $6000/mo all in. 3
years left. Sales $1500/day. Open 7 days.
Large stainless kitchen with large hood. 2
parking spaces at rear.
$179,000
LES TWAROG
LIVE/WORK LAND & BLDG
6TH & CAMBIE
(604)671-7000
2130 – 2132 Alberta (Near 6th & Cambie) 2357 s/f, 2 level rebuilt building +
a1300 s/f roof deck with D/T view on 3rd
level. Main floor 1033 s/f used as a Vet
Clinic, 2nd level – 1324 s/f is a 2 bed 2
bath, suite, lot area 2144 s/f (29x74) with
3 parking stalls in front.
$2,199,000
1428 W 7th Ave.,
Vancouver, B.C.
Crest Realty
(Westside)
To view listings please visit:
www.6717000.com/Biz
OFFICE/WAREHOUSE
RICHMOND, BC
[email protected]
CALL OR EMAIL FOR A FULL INFO. SET
RESIDENTIAL DEVELOPERS !!!
Richmond Broadmoor area
171 frontage x 141 deep for 5 lots with coach
houses or possible 12 townhouses,
rental revenue from 5 suites
$2,700,000
COMMERCIAL INVESTMENT RICHMOND
Prime corner exposure
to Costco, SkyTrain, casino
hold for hotel, retail, pub
revenue house for income
$498,000
BUSY BUSY BUSY
Richmond commercial corner, over 28,000
square feet, hundreds of feet of frontage
zoned c-1 and rezone possible
$1,450,000 = $52 psf !!
COMMERCIAL INVESTMENT –
VANCOUVER
West side - SW Marine Drive - Marpole
50 x 181 lot with lane, 2,184 sq ft
leased building
$1,250,000 !!
[email protected]
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Contact information: Chris Davies and Peter Hall
Tel: (604) 718-7300 Fax: (604) 718-7307
Email: [email protected]
Each office is independently
owned and operated.
A13
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
STRAIGHT5"-,
Interview Series
Builder Michael Audain on recession and recovery
2008-09 was a result of the international financial crisis, which really scared the pants off of
everyone.
ANDREW PETROZZI
WESTERN INVESTOR
escended from one of B.C.’s founding families, Michael Audain,
chair of Polygon Homes Ltd., is
one of B.C.’s leading home builders. He is
also chair of the Vancouver Art Gallery
Foundation, the Audain Foundation for
the Visual Arts and the National Gallery
of Canada.
How have you navigated the good times and
the bad times?
Our company has always been careful not to
get over-levered at the bank. We tend to maintain a respectable debt-to-equity ratio. Because
we are focused only on the Greater Vancouver
market, we are able, to some extent, to anticipate downturns, and when downturns occur,
we are pretty ruthless in moving our inventory
What factors characterized economic of completed homes. For instance, a year ago,
downturns in B.C. over the past 30 we were including a brand new Mercedes with
every purchase of a townhome in Richmond.
years?
I don’t think there is any one single fac- It’s hard to believe that was only a year ago. It
Michael Audain: “Our company has always
tor. They were all different. The housing is an illustration of how determined we are to
been careful not to get over-levered at the
recession of the early 1980s was caused by operate with zero completed inventory.
bank.”
a combination of super-high interest rates
and overbuilding. The recession of the late What tipped you off that a correction was are very good, we grow somewhat cautiously
because we have learned that in a strong wind
1990s I think was caused by the policies of coming?
the NDP government in driving investors Whenever prices are moving up too quickly even turkeys can fly.
and investment out of the province. We saw then we begin to get concerned because at
other parts of Canada booming, but people Polygon we never forget that the housing Any new lessons learned in the past 18
were leaving B.C. The short recession in industry is a cyclical business. When times months?
Photo: Dominic Schaeffer
%
Every downturn teaches you something and
I think the main thing is not to let your ego
get in the way of prudent business decisions.
Also, mainly focus on the middle market
instead of just the very high end of the housing market.
I think that’s reinforced what you might
call our market profile, which is generally a
mid-market profile. Every year we like to do
one really high-end building, but the bulk of
our products is aimed at young families, who
are either buying their first home or moving
up in the market.
Are we seeing an economic recovery?
Yes, we are quite positive about British
Columbia’s economic prospects. We believe
there may be a bit of a slow period immediately after the Winter Olympics, but we think
people will look through that and understand
that British Columbia has a strong future. We
are optimistic. I think I would characteristic
it as cautiously optimistic.
We are not wildly enthusiastic about the
housing market. We will develop our land in
an orderly fashion and always with an eye to
the factors that create housing demand.◆
This interview originally appeared in the
March 2010 Black Edition of Business in
Vancouver.
-PXFS.BJOMBOE
MOBILE HOME PARKS
ANMORE, BC
LOWER MAINLAND
sPADPARKWITHTWOHOMESONACRESAsking $1,395,000.
sPADPARKWITHHOMEONACRES#ITY3ERVICES
Mins to Buntzen Lake, Belcarra Bay,
West Coast Express,
Coq. Centre & 30 mins to Vancouver
NORTH OKANAGAN
sPADPARKWITHHOMEANDSUITESONACRESAsking 1,150,000.
ALBERTA
sPLUSPADSWITH26SITESWITH#ITY3ERVICESONACRESAsking $6,750,000.CAP
GAS STATION
MISSION
s.EWERSTATIONWITHRESIDENCESTOREANDFRANCHISELEASE#ALLFORDETAILSAsking $4 Million
Other Mobile Home Parks coming up in Lower Mainland and Alberta on City services.
Call to get on the wait list for information.
Direct line:
604-626-8894
16 AC Adj. to above for 23 ac dev . $4.5M
7 AC Build 2 homes or hold for future dev.
27 ac adj. avail. for 34 ac subdivision
..................................................$1.68M
Call Ray or Richard for all of your Real Estate Needs!
email us at [email protected]
"All offices independently owned and operated"
1-800-668-8661
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604-987-6064
June Warkentin
604-970-5863
or 1-888-970-5863
Email: [email protected]
Ray Veenbaas
LITTLE
OAK REALTY
604
859 2341
7 AC Subdivided to 1 ac. Private Estate,
or build 2 homes. CHOICES! ........... $1.8M
3 – 1 AC PARCELS ready to build
...............................................$719 - $759
Bill Summers
BC SUNSHINE COAST
OCEANVIEW DEVELOPMENT SITE
www.seaviewvillaestates.com
Richard Riemersma
604 309 8541
RESIDENTIAL, COMMERCIAL, INVESTMENT & AGRICULTURE
HOTEL WITH PUB &
BEER AND WINE STORE
$2,950,000
INCOME PROPERTY
D
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S
$1,800,000
Annual Net Income
STRIP MALL
604-859-2341
LAND & BUILDING @
Going Concern
$1,000,000
$2,750,000
$3,750,000
BUSINESS
PIZZA (Close to high school & JR high school) $109,900
J.V. PARTNER(S) REQ. FOR 31 LOT
SUBDIVISION EXCELLENT RETURNS RESTAURANT
$119,000
Call for details
RECREATIONAL PRODUCTS BUSINESS
DEVELOPMENT
OFFICE BUILDING WITH
TRIPLE A TENANT
Little Oak Realty
1.78 ACRES, PROPOSED
TOWNHOUSE DEVELOPMENT
$129,900
MOBILE SANDWICH TRUCKS $245,000
RESTAURANT
$299,000
( with up to 3.5 acre assembly possible ) RESTAURANT
$399,000 SOLD
$1,300,000
TF 1-800-668-8661
CONTRACTOR SUPPLY
#9–2630 Bourquin W., Abbotsford
"EACH OFFICE INDEPENDENTLY OWNED & OPERATED"
$400,000
A14 Lower Mainland
MAPLE RIDGE
DEVELOPMENT SITES
■ 39
Unit Apartment Site
$1,199,000
Zoned RM1 at 3rd reading
■ 81
Unit Apartment Site
Being zoned RM-2 - Town core area
■ 50+
unit Townhouse Site
Great neighborhood - Silver Valley area
$BMM5FSSZ1BTTMFZGPSGVSUIFSEFUBJMT
Tri Tel Realty
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
Gas/Gen Store near Hope (2.14 acres/Com bldg)
$1.65M Sale $4M ($3.5M Gas & 800K Gen) + 2 Mobile
home pads rented + 2 one bed cabins
Motel-Van Island: $1.79M, pub + rest + liquor store
rented. Rental income $162K. Net $220K 35 Rms, 1.94
acre/26,000 sq. ft building.
Tourist Motel in Rocky Mtn (3000sqft extr bldg)
$1.3M 30 rooms all rms pre-booked year advance Sale
$310K Gross income/net over $150k/extension potential
Motel in Okanagan Valley d/t $1M (share)
21 units 0.419 acre-land / Sale over $200K owner retiring
Motel in Fort Yale (one acre/12units/4 bed suite)
$549K (asset)
Motel in Sask 34rms $400K + Pub $300K / net $290K
$1.9M (asset)
Motel-East Can 39 rms / 3 acres / sale $300k / net $200k
$2.49M (offered)
604-467-9300
or email [email protected]
PETER PARK
604-240-9916
email: [email protected]
OWNERSHIP OPPORTUNITY
– BUILDING SUPPLY STORE IN BC –
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.
Contact 3USAN2OBINSON sWWWIRLYBIRDCOM
WEST COAST REALTY
Each office is independently
owned and operated.
Blenz Master Franchise & Franchise Opportunity in
Vancouver, Vancouver Island, Ontario & Alberta
Blenz Franchise Vancouver Island ................ 280K
Blenz Franchises Yaletown West SOLD, $310K,
$269K, $368K, $275,000, $150K, $250,900,
$250K, $229,000, $299,000
Steamrollers Franchise Opportunity, Vancouver
Wired Monk Master Franchise & Franchise Opportunity
Wired Monk ................................. $199,900,$135K
Quizno’s ...................................................$244,900
Titan Motorcycle Single & Master Franchises
Available in British Columbia, Ontario and Alberta
Northside Auto Sport Single & Master Franchise
Available
For Details On Additional Listings Go To
www.matthewmoadebi.com
www.vancouverfranchise.ca
Campbell River
Development Site
3.14 Acres with 397 feet Water Front Zoned
Commercial Four (C-4) with 180 degrees of
views of Georgia Straight.
Jerry
Raczkowski
780-932-2121
Matthew Moadebi
604-329-6771 (Cell)
[email protected]
Crest
Harrison Hot Springs
Opportunity
3 Taco Del Mar
Active licenses for Beer & Wine
Store, Pub, Restaurant & Motel
6 acre site. Zoned Commercial.
$700,000
2 Indian Restaurants
Shingle Mill Mission
Daily sales: $5,000
(not including catering/parties)
Surrey & White Rock
Net profit
$600,000 - $700,000 yearly
2 Supermarkets Surrey
Daily sales $13,000
Net Profit: $200,000 yearly
Vancouver & Surrey
East Indian Restuarant Vancouver
11 Stores Leased
Building for sale. Rental income
$106,000 yearly
Smoke Shop near PNE
Annual Net income: $55,000
Only $45,000 plus stock
(Scott Rd)
Daily sales $2,500 3,000
Asking $75,000 + stock
Supermarket – Cloverdale
With or without property.
Daily average sales:
$4,300 - $4,500
2 Produce Stores
Vancouver
Daily sales $2,500 3,000
Asking $175,000
White Rock
Produce Store
Daily sales $2,000 - $2,500
Asking $175,000
Canadian Food
Restaurant Surrey
ESSO Gas Station, House
w/ B&B Business &
Convenience Store. 3 bedrm
with 3 bedroom house
Daily sales $2,000
BUYERS FOR YOUR LISTINGS
call Gary Takahashi
toll-free: 1-800-661-6988
direct: (604) 608-5111
or fax: (604) 669-2154
[email protected]
7455 VEDDER ROAD, CHILLIWACK BC
Aldergrove Gas volume 8 million
litres yearly. Store sales - $3,000
daily average
Delta Daily sales - $2,500 – $3,000
Gas volume 4 million litres plus
rental income
MOTELS/HOTELS
New West with property
Daily sales -$2,500 3,000
Asking $1million SOLD
REACH QUALIFIED
3 Franchise Gas Stations
2 Subways only call now
4 Convenience Stores -
New West
Daily sales - $2,000
Asking $175,000
Call Jerry Raczkowski for more details
604-602-1111
Re/Max Crest West Site
www.VancouverInvestor.ca
Agents:
house plus 2 – 1 bedrm B&B's.
C-Store average daily sales $2,500
Total package $1,100,000
Aldergrove Leased Esso Gas
Station For Sale. Rental income:
$89,000 per year triple net
LANGLEY
Well established, profitable
business
Crest Realty (Westside)
Pizza Store Surrey
Well established
Daily sales $500
Surrey
Daily sales - $1,500 1,700
Asking $180,000
The site: 1430 South Island Highway is approved
for 74 units’ quarter share Resort Spa with
the building permit in place.
Attention
42 room motel Surrey
20 room motel Langley
48 rooms in Surrey
29 room motel Chilliwack
89 room motel Kamloops $1 mil yearly revenue
I have Flagged motels in BC
2 pubs with beer & wine store
restaurant + commercial plaza near
Abbotsford
Status: Land (Commercial)
Tran Type: For Sale
Total Acres: 2.669 Zoning: CD15
Lot Frontage: 370 Lot Depth: 277
s
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,OCATEDWITHINONEBLOCKOFAREAMALLSAND(WYIN3ARDIS
&LATACRESWITHACCESSTOBOTH+NIGHT2D6EDDER2D
0HASE/NE%NVIRONMENTAL3TUDIESCOMPLETEDWITHNOFURTHERTESTSREQUIRED
3ELLERWILLBUILDTOSUITANDORLEASE
$4,500,000 MLS® H3800231
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RE/MAX SELECT PROPERTIES
Please call Hall-of-Fame-Award Winner
JASON LAYNES
RE/MAX Nyda Realty
6EDDER2D#HILLIWACK"#
0H604-858-7179 4&1-800-830-7175
Commercial Specialist KARTAR SINGH AHLUWALIA
Phone: 604-737-8865 Cell: 604-831-0486
w w w. j a s o n l a y n e s . c o m
Each office is independently
owned and operated.
A15
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
SPOTLIGHT High-end resort developments face zoning and NIMBY pressure as island nears capacity
square foot is approximately $250 – the best
value it’s been in years. And the trades are here
to do the work, which hasn’t been the case for
a while,” Ockeloen adds.
Located on the southeast corner of the
island, WCD Developments Ltd’s Cowan
Point is currently accepting inquiries on their
48 building lots adjacent to Bowen’s nine-hole
golf course.
#PVOUJGVM#PXFO*TMBOE
SUSAN M. BOYCE
#PXFO*TMBOE#$
WESTERN INVESTOR
t’s been one of the Lower Mainland’s
favourite “cottage country” getaways
for decades. Easily accessed by ferry
or private boat, approximately 3,500 people
call Bowen Island home, although residency
numbers skyrocket during the summer season
– in 2009 the Visitor’s Information Centre
recorded 18,000 visitors between the May
Day holiday and Labour Day alone.
A member municipality of Metro
Vancouver, Bowen is also the first island
municipality under the auspices of the Islands
Trust which plans land use and regulates
development for maximized environmental
protection.
Retail and services are congregated in two
areas – Snug Cove, where the original centre
was built and where both private boats and BC
Ferries access the island; and Artisan Square,
located a short walk up the slope. Restaurants
thrive in summer and struggle in winter, their
number fluctuating between four and six with
almost half changing hands virtually annually
Photo: Tourism BC
*
Bowen Island, as seen from Cypress
Mountain, West Vancouver.
as owners decide the challenge of such a seasonal location is too difficult to be viable.
In 2009, the municipality issued $10 million
worth of building permits – over $7 million
being for construction of residential dwellings and a further $1.7 for renovations and
additions. Yet according to many, including
Suzanne Carvell, manager of the Bowen
Island Chamber of Commerce, there is still
a serious lack of affordable housing. “The average house price on the island is now $500,000,”
she says. “It’s a particular problem for local
businesses who need people in the summer
– so much so that some owners put seasonal
employees up in their own homes.”
Like Carvell, Allard Ockeloen, vice-presi-
Population 3,500
Average house price $500,000
Waterfront lot $1 million
Potential Destination resort market
$BQF3PHFS
dent of finance with Sorensen Fine Homes, is
quick to acknowledge multi-family development could be a good thing for Bowen Island
although it’s unlikely to materialize. “We are
now approaching the maximum density allowable in the OCP,” he says, adding there is also
strong opposition from the inevitable NIMBY
contingent.
NJMMJPOMPUT
One of only three major residential projects
currently under development, Sorensen Homes’
King Edward Bay began construction two and
a half years ago and is now almost sold out of
their initial phase of 40 building lots. Priced
from $200,000 to $1 million for lots of 0.5 to
1.2 acres, King Edward Bay allows purchasers
to bring their own architect and builder or they
will custom build a residence to suit. “Cost per
But it’s the Cape on Bowen, a 600-acre property of 10-acre view and oceanfront estate lots
also known simply as Cape Roger Curtis, that’s
drawn the most ire from some local residents.
Preliminary plans for an affordable, multifamily development and other amenities including a seniors centre were squashed before they
could take off. Information remains sketchy
with unsubstantiated rumours of lot prices
pitched in the $1.5 to $3 million range. Most
industry insiders predict it will be years before
the property begins active sales.
Still, Bowen Island’s sense of exclusivity
will likely continue to attract savvy buyers
looking for a getaway that’s only a 15-minute
ferry ride from the mainland.
“Like it or not, I could see this area developing along the lines of a Martha’s Vineyard or
Bambridge North,” Ockeloen said.◆
-PXFS.BJOMBOE
AUCTION OPPORTUNITY
IN BEAUTIFUL BRITISH COLUMBIA
Whether your dream is to build your own waterfront
or water view home on Vancouver Island, the Sunshine
Coast or Little Shuswap Lake, live in an elegant villa in
Qualicum Beach, or own a golf course in the Thompson
Okanagan, May 19 is the day to fulfill your dream…
Wells Gray Golf Resort and RV Park
PROPERTIES INCLUDE:
5 *!3!,)&.(/0%.-
Wells Gray
Provincial Park
5 %,%)2-
.2-&"+1
!
5 (2)2$'11/
5 (2"/
2#!,//1313
Clearwater
Banff
5
1.)2"/
$-/3&
!
Chase
5 %,"/
-,/0+
Kamloops
Properties will be sold to the highest bidders, regardless of price.
Auction date:
Wednesday, May 19, 2010
Auction location: Ritchie
Bros. Chilliwack (Vancouver) facility
42275 Industrial Way, Chilliwack, BC
Simulcast Location: Crown
Isle Resort & Golf Course, Courtenay
399 Clubhouse Drive, Courtenay, BC
Contact us for property details and registration information:
4
Campbell
River
VANCOUVER
ISLAND
!
Courtenay
Tofino
Pender Harbour
Qualicum
Beach
Nanaimo
Kelowna
BRITISH COLUMBIA
Vancouver
UNITED STATES
Victoria
A16 Lower Mainland
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
www.naicommercial.ca
Commercial Real Estate Services, Worldwide.
NEW WEST ASSEMBLY BLDG
BURNABY RETAIL
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SURREY LAND
PENTICTON, BC - FOR SALE
RICHMOND INVESTMENT
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BILL HAMILTON 604-524-3641, x305
RICK LUI 604-644-6182
[email protected]
[email protected]
PRINCE GEORGE, BC – FOR SALE
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www.naibusinesses.ca
DIVERSIFIED TRANSPORTATION & TRUCKING, AB
BUSINESSES
LIST PRICE
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OKANAGAN VALLEY LOCK & KEY BUSINESS
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looking for a succession plan to extricate yourself from your
business call Alf or Delon for a free advisory consultation.
$350,000 incl. equip & inv
OKANAGAN BUTCHER SHOP & DELI NEW LISTING
100 TABOR BOULEVARD
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LOWER MAINLAND HAIR & BEAUTY SALON
$2,400,000 incl. equipment & inventory
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LOWER MAINLAND METAL FABRICATING
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132 UNITS
251 Units – 8 Acres Site
7iÊ>Ì>i`
$590,000 incl. equipment
$338,000 plus inventory
ALF SANDERSON 604-691-6646
DELON CHEUNG 604-691-6654
PETER SEED
CHRIS WIESER
alf@naicommercial .ca
delon@naicommercial .ca
604-691-6608
604-691-6662
B U S I N E S S E S
GAS STATION & BOWLING ALLEY (East Kootenays)
s4WO"USINESSESINCLUDING0ROPERTY
sACRESLANDSFBUILDINGS
sMILLITRESGASSALES
sMILANNUALSALESWITHOVERNETTOOWNER
....................................................................................................Shares $2.0 mil
F O R
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FOUR STAR HOTEL (Vancouver Island) &ULLSERVICEHOTELWITHADJOINING
DEVELOPMENTSITEÊ°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° Price on request
B&B CHALET (Whistler) ,UXURIOUSEIGHTROOMPRIVATE)NNNESTLEDASHORT
WALKFROM!LTA,AKE
.....................................................................................................Shares $2.45 mil
DOLLAR STORE FRANCHISE (Mission/Abbotsford)
s%STABLISHEDIN
s%XCELLENTEXPOSUREINLARGEMALL
sMILANNUALSALESNET
.....................................................................................................$458,000 + Inv.
COFFEE FRANCHISE (Richmond) /NEOFTHEBESTINAVERYATTRACTIVEBUSY
CARDS, WRAPS, GIFTS & BALLOONS (Vancouver)
s-OSTUNIQUESELECTIONSOFlNEGREETINGCARDSAVAILABLEIN#ANADA
s0RIMELOCATIONINTRENDY+ITSILANO
s!BSENTEEOWNER
sANNUALSALES ...............................................$99,000 $58,000 + Inv.
°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° $395,000 + Inv
AREA0ROlTABLEWITHLONGLEASEÊ°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° $298,000 + Inv.
POST OFFICE/MAGAZINES (Vancouver) ,OCATEDINTHEHEARTOFHIGHEND
RESIDENTIALDEVELOPMENT'ROSSREVENUEMILYEARKNET
EMPLOYMENT AGENCY (Lower Mainland)
s,ONG%STABLISHED
s4EMP0ERM0LACEMENTS
sMILSALES
s.ETTOOWNER
........................Shares $800,000 + Inventory (Net of receivables and debt)
TED STELLAKIS 604-691-6692
[email protected]
COFFEE FRANCHISE (Vancouver) ,OCATED IN OFlCE BUILDING IN THE
DOWNTOWNCORE0ROlTABLEWITHLONGLEASEÊ°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° $249,000 + Inv.
EURO DELI (Coquiltam) 7ELLESTABLISHEDPROlTABLEDELICATESSENWITHSMOKE
HOUSE'OODLEASEÊ°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° Assets $183,000 including Inv.
MEDICAL EQUIPMENT (Lower Mainland) -EDICALSUPPLYRETAILERCARRYA
GOODASSORTMENTOFSCOOTERSWHEELCHAIRSWALKERSPOWERCHAIRSHOSPITALBEDS
LIFTCHAIRSPATIENTLIFTSBATHROOMSAFETYEQUIPMENTCUSHIONSANDOTHERlNEMEDICAL
EQUIPMENT.EWLOCATIONAVAILABLEFORLICENSEES ........................$50,000 plus Inv.
ELIZABETH WOZNICZKO
604-691-6648 [email protected]
Asking $14,810,000
Vienna Treasures A tasTE OF !USTRIA #AFE AND BAKERY ARE PERFECT FOR
A COUPLE OR INDIVIDUAL ENTREPRENEUR /WN AN ESTABLISHED CAFEBAKERY ON
BUSY4(3TREETCORRIDORWHICHISCLOSETOOTHERRETAILSCHOOLSANDOFlCES
.......................................................................................................... $39,000
Taste of Singapore -ODERNLAYOUTWELLEQUIPPEDSQFTRESTAURANT
INBUSYSTRIPMALLON3COTT2OADCORRIDOR!SSETSONLYBRINGYOURTHEME
'OODLEASEANDEQUIPMENT6ENDORMOTIVATED ............................... $45,000
Gold Dust Café Building – FOR LEASEnFULLYlXTUREDSQFT
STOREYSWITHBASEMENTBUILDINGDOWNTOWN-ILE(OUSEDEMISEDINTOA
SQFTSEATRESTAURANTCAFÏONTHEMAINmOORWITHFULLBASEMENTAND
ASQFTPERSONLICENSEDBANQUETHALLONTHETOPmOORWITHSEPARATE
ENTRANCE..................................................................!SKINGRATE$8.25 PSF
Select Auto Sales #OMPLETETURNKEYINDEPENDENTCARDEALERSHIP7ELL
ESTABLISHED AND REPUTABLE FULL SERVICE LOCATION ON -AIN 3TREET 0ENTICTON
0RICEINCLUDESALLINVENTORYALLMECHANICALTOOLSLEASEHOLDGOODWILL
3&LOT........................................................................................ $160,000
Harmony Hair 7ELL ESTABLISHED WELL EQUIPPED SIX STATION HAIR SALON
LOCATED IN BUSY -ARKET #ROSSING -ALL "URNABY !NCHOR TENANTS INCLUDE
#ANADIAN4IRE0RICE3MART&OODSALONGWITHAMPLEPARKING ...... $100,000
Fraser Lake Inn /WNERABSENTEEOPERATED&ULL3ERVICE(OTELLOCATED
ON(IGHWAY"UILDINGCONSISTSOFROOMSSEATPUB2ETAILLIQUOR
STOREWITHSEATRESTAURANTOWNEROPERATED&URTHERDETAILS ..... $895,000
Motels | HotelsWANTED(AVE"UYERSFORnUNITSINTHEFOLLOWING
REGIONS6ANCOUVER)SLAND#ARIBOO3OUTH/KANAGANAND+OOTENAYS
DEAN THOMAS CCIM
604-524-3641 Ext. 314 [email protected]
Committed to Canada. Connected to the World.
Lower Mainland A17
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
Maple Ridge Land Investment
BDSFTJOQBUIPGTVCEJWJTJPOEFWFMPQNFOU
/PUJOBHSJDVMUVSBMMBOESFTFSWF
"MSFBEZJOTFXFSBSFB²"BQQSPWFECZ(73%
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.VTUXBJUGPSTFSWJDFTUPCFFYUFOEFEUPEFWFMPQ
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$2,350,000
$BMM
Bob Quinnell604-803-2627
4".3",)3"
604-590-6111
M otels & FOR
HSALE
otels
ROYAL GROUP
Tapestry Realty
#104-13049-76 Ave
HOTEL
s6ICTORIA-OTEL $6M
s"ELLINGHAM7!-OTELS $7M-$12M
s(OTELSIN6ANCOUVER"# $2M - $24M
s&ULLSERVICEHOTELIN3QUAMISH $2.5M
s(OTELSIN4ORONTO $5M - $30M
s(OTELS!"3+-" $1M - $12M
s6ALEMOUNT(WY&ULLSERVICERESTAURANT
SEATS&OR,EASE
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,OCATEDIN6ALEMOUNT"#CLOSETO*ASPER!"
WWWPREMIERMOUNTAINLODGECOM$4,888,888
Bellingham (WASH) 67 Room
Hotel for Quick Sale. Vendor
Moving. Revenue 1.2 MILLION
in US Funds.
Asking Price
$4.8 Million (US Funds)
For more detail or private viewing call :
Karim Ali Merali
[email protected]
1-888-830-7888.EW7ORLD2EALTY
SAM RAKHRA
of the ROYAL GROUP
604 761-0172 604 590-6111
Unique & Sound Investment
Marriott Pinnacle Coal Harbour
Townhome Development Site
Morgan Creek Heights
1128 W. Hastings Street, Vancouver
Excellent location King George & 24th Ave.
2 gorgeous hotel units on the 19th & 21st floors.Water
and mountain views, steps to new convention centre,
Robson St. and Stanley
Park. Share the revenue
from a top hotel in the
city. Carefree – headache free investment of
8/9% net return. Best
location in Vancouver!
$218K&$228K
Build 18 townhomes or hold for future development with neighbours. Good spacious
rental home plus large garage shop
and sheds on property now.
Asking $1,500,000
Tony Alves 604 889-7008
3PZBM-FQBHF#SPPLTJEF3FBMUZ
Sutton Centre Realty
www.naicommercial.ca
Commercial Real Estate Services, Worldwide.
WOOD PELLET MILL KAMLOOPS
ASKING $2,100,000
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APARTMENT BUILDINGS FOR SALE
3860 ALBERT ST., NORTH BURNABY
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TERRY HARDING 604-691-6615
[email protected]
JACKSON TANG 604-691-6680
[email protected]
BUSINESSES FOR SALE
COMMERCIAL LAUNDRY EQUIPMENT SALES
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TED WEIBELZAHL
TED WEIBELZAHL
1-800-890-9855 Toll Free
OR$IRECT
1-800-890-9855 Toll Free
OR$IRECT
[email protected]
[email protected]
BUSINESSES
BC NORTH PAVING
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RED MEAT PLANT NEW
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HELI SKI, ECO-TOUR LODGE NEW
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BC NORTH EQUIPMENT RENTAL
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VANCOUVER HAIR SALON
U ‘chic’ location & full service Salon
U 15 years in business
U All employee - No ‘chair’ rental
U Stable revenue – high cash business
ENGINEERING – GREATER VANCOUVER
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or Storage businesses
SURREY CENTRE LAND
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KAMLOOPS 42 SUITE
APARTMENT BD
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MERRITT STRATA
TOWNHOUSES
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100 MILE HOUSE NURSERY
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MICHAEL MARCKWORT
[email protected]
2 BOUTIQUE HOTELS
WITH RESTAURANTS
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Asking Price: $2.4M & $4.3M
UNDER VALUED
MOTELS IN EASTERN BC
www.naibusinesses.ca/craig
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CRAIG TENNOCK
MICK MATHEUSIK M.Sc.
1-866-717-6989
[email protected]
[email protected]
0ROFESSIONALSs-ARKETSs#OUNTRIES
A18 Lower Mainland
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
FOR SALE
Roaron
GARY MAND
Commercial/Retail
Marine Drive, North Vancouver
Fully Leased
Construction
“Your One Stop Shop”
Sutton Group Medallion Realty
FOR SALE
Azeem CGA
604-888-7818
email: [email protected]
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Serving Real Estate Clients since 1989
GLENN
Zoned assembly,
Montessori, school, gym,
etc. 6,500 sq.ft. $11.77/
sq.ft. Lots of parking,
no Demo clause. Easy
showings. Liquor license
may be available.
Coronation West Realty
604-939-6666
604-240-2749
EMAIL: [email protected]
OFFICE:
CELL:
COMMERCIAL AND RESIDENTIAL REAL ESTATE SINCE 1989
BURNABY NORTH GOVERNMENT ROAD
LAND DEVELOPMENT
Office space for lease.
1,540 sq.ft. $9.50/
sq.ft. Zoned M5. Fully
airconditioned. Corner
site. Hwy. frontage.
Excellent exposure in
clean, bright building. Budget priced!
SOLD
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BUSINESSES FOR SALE
Auto Repair Service Shop REDUCED $69K $38K
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VANCOUVER WESTSIDE OFFICE SPACE
FOR SALE
$4 Mil.
SOLD
$549,000 964 sq.ft.
Zoned C-2. Ample
parking (5 spots).
Easy access from
Dunbar in this upscale
neighbourhood.
Ideal for professional
offices. Less expensive to buy than to lease.
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BUSINESSES, LAND & BUILDING
NEW !! Pub, Land and Building
604-614-7101 Global Force Realty
C H I L L I WAC K , B C
$2.7 Mil.
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Thinking of selling your Business?? Give me a call.
I’ll be happy to sit down with you and evaluate your Business.
3.9 acre commercial site on
Luckakuck Way with 49,432 sq. ft.
of building
WEST END JAPANESE
RESTAURANT FOR SALE
VANCOUVER EAST SPACE FOR LEASE
Personal Real Estate Corporation
Waste Disposal Business
AMARJIT GIL L
Surrey Farm 49 acres 10 to 11 years old.
Blueberry Farm plus outbuildings.
L O C AT I O N • L O C AT I O N • L O C AT I O N
YAMADA
Condo Site $2.3M
Abbotsford 32 townhouse
5 lot 6,000 sqft and beg house
w/pool & tennis court. $5.8M
Maple Ridge 7.7 acres urban reserve
Close to new development.
Buy – Sell – Lease
www.roaron.com
Langley 56 lots
17 row houses and 19 townhouses. $10.5M
Langley 2.4 acres future potential
for commercial. $1.4M and
5 acres residential.
Asking $2,580,000
Call Now
or Email [email protected]
Langley townhouse site
5 acres 82 townhouses. $5.3M
East Newton Business Park – Surrey
2 parcels 2.224 acres and 4.5 acres
Industrial business park.
Multi-Family Apartment Building
Central Lonsdale, North Vancouver
ph: 604-889-4551
34 acres for blueberry or raspberry
close to 264 border in USA. $375K
South Surrey 5 – 15 acre parcels.
Future potential for residential.
Asking $3,180,000
• subdivision construction
• building envelope
• concrete/asphalt & sealing
• structural repair
• roofing & waterproofing
• parking lots & parkades
5 aces out of ALR 2/2 houses
Main house 8545 sq.ft. By Langley SEC school,
w/100x45 warehouse $3.9M. Trades welcome.
604-307-9515 604-572-1211
Business
only. $70,000
1,000sq
ft. $84.90
lease /sq.ft.
Busy Robson
St. location. Eat in/take out. Well
established.Why settle for less?
RETAIL SPACE IN MAPLE RIDGE
FOR SALE
3,045 sq.ft.
2 levels.
C3 zoned.
$819,000 Fully
airconditioned,
alarm system,
HVAC. Maple
Ridge Town Centre. High pedestrian
traffic area. Excellent exposure. Great
for single use or can be split into 2
separate units.
Excess land.......room for more building on site.
Prime freeway exposure. Tenants: Value Village,
House 2 Home Furniture, End of the Roll Carpets.
Low rents (well below market) offering great
upside. Good escalating leases. Assumable CIBC
financing @ 5.6% if required. NOI: $557,000
Price:
$9,500,000
SPIRIT RIVER, AB
Freestanding Retail Building
Just listed- $1.3million gross
income well located, well established
corner restaurant at 5th and Burrard.
$299K
Leased to national retailer (Hudson’s Bay Co)
635,000 (8.5% return)
ROB DANIELSEN
FERMANAGH LANDS
604-781-5069
(604) 946-7997 (604) 790-3188
[email protected]
www.century21.ca/rob.danielsen
INDUSTRIAL / RETAIL SALE
RETAIL SALE
OFFICE / RETAIL SALE
STRATA OFFICE SALE
1151 WEST 8TH AVENUE, VANCOUVER
3083 GRANDVIEW HIGHWAY, VANCOUVER
3467-3469 MAIN STREET, VANCOUVER
1331 & 1339 KINGSWAY, VANCOUVER
3410 LOUGHEED HIGHWAY, VANCOUVER
‘The Steamboat House’
Heritage B Building • 8 parking stalls
4 floors • 6,400 sq ft building
11,000 sq ft solid concrete building
Divisible into three units
1 unit leased generating $64,000 per annum
+/- 2,950 sq ft retail building
33’ frontage on Main Street
User / Investor opportunity
Lot size: 99’ x 122’
30,000 sq ft of retail
Kitty-corner to King Edward Village
600 -13,500 sq ft strata office
Concrete construction • Air conditioned
Adjacent to Rupert St. SkyTrain Station
James Bayley / Tom Bakker
Tony Capolongo
James Bayley / Virginia Primrose
Stephen Webber / James Paleologos
Don Mussenden / Anthony Lux
OFFICE / WAREHOUSE SALE / LEASE
INDUSTRIAL SALE / LEASE
INDUSTRIAL SALE
INDUSTRIAL / OFFICE SALE / LEASE
INDUSTRIAL / OFFICE SALE / LEASE
PR
PR
IC
E
IC
E
R
R
ED
U
C
ED
U
C
ED
ED
USER / INVESTOR OPPORTUNITY
42 FAWCETT ROAD, COQUITLAM
145 GOLDEN DRIVE, COQUITLAM
375 LYNN AVENUE, NORTH VANCOUVER
1515 BROADWAY STREET, PORT COQUITLAM
Prime owner/occupier opportunity with income
17,473 sq ft freestanding building
Ample parking • 20’ ceilings
8836 SELKIRK STREET, VANCOUVER
4,632 sq ft available
2 warehouse/office units available
3 phase power & 20’ clear ceiling height
Mayfair Industrial Park
7,253 sq ft on 6.65 acres • A/C offices
2 bay shop area • 14’ x 16’ drive-in doors
3,700 to 20,700 sq ft
24’ ceilings • Grade loading • River views
HVAC equipped • Hwy #1 nearby
Units 101 - 103 • 11,736 sq ft
High quality office space • $160 per sq ft
Ideal for software/tech users
Ryan Saunders/Mitch Ellis/Mark Elworthy
Steve Caldwell / Jackie Gwozd
Steve Caldwell
Rand Thomson
Steve Caldwell / Jackie Gwozd
INDUSTRIAL SALE
FORECLOSURE SALE
U
C
ED
Tel: (604) 684-7117
www.dtzbarnicke.com/vancouver
Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to
its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same
should not be relied upon without independent verification. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 5/2010
SUBJECT
PR
IC
E
R
ED
For more information on these and
other opportunities contact our office
or visit our website
13081 84TH AVE, SURREY
144 & 174 - 176TH STREET, SURREY
19,200 sq ft building on 1.1 acres
11,000 sq ft leased
generating $87,000 per annum
60 acres including farm buildings
1 acre with house
Close proximity to Pacific Border Crossing
Tony Capolongo / Chris McIntyre
Dixon Chow
A19
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
COVER Tax advantage softens blow of low occupancies, soft prices, slumping incomes and a slow recovery
3PMMJOHPWFS
JOIPUFMT
FRANK O’BRIEN
WESTERN INVESTOR
spike in Vancouver occupancies
during the 2010 Winter Olympics
is not enough to disguise a slump
in a B.C. hotel and motel market pockmarked
with foreclosures, falling income, killed
projects and empty rooms. And B.C. is not
alone: a mix of a high dollar, the loss of U.S.
tourists and tough financing has hammered
the hospitality industry across Canada.
see a near 2 per cent decline to $76 this year,
after a 13 per cent drop in 2009.
“We don’t see a turnaround, and that means
back to 2007 levels until 2014,” said industry
veteran Angus Wilkinson, president of West
Vancouver-based Tyne Hospitality Ltd.
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Wilkinson notched one of the few hotel sales
this year in Metro Vancouver when he sold the
56-room Travelodge in Maple Ridge for $3.6
million. The sale was unique, Wilkinson said. It
wasn’t listed for sale when a hotel owner from
Abbotsford made the offer, and the buyer had
the strength to handle the financing.
Over on Vancouver Island, meanwhile, a
number of hotels have slid into receivership as
the recession slowed U.S. visitors. Last year,
hotel revenues in the capital region fell nearly
10 per cent and were off from 11 per cent to 12
per cent in other Island centres.
Last December, the English Inn & Resort
finally sold after 20 months under a court
ordered sale to a group of B.C. investors. The
Photo: Sparkling Hills Resort and Wellness Centre
Photo: Tyne Hospitality
Yet, as in any downturn, some investors are
building and buying now to catch what they
believe is an improving market, despite the
ugly statistics.
Hotel and motel incomes in B.C. dropped
11.7 per cent in 2009 to $1.7 billion, and room
revenues fell for the first time in six years,
according to BC Stats. By December 2009,
hotel occupancy had plunged to 57 per cent –
down from a five-year average of 65 per cent
– and the average room rate was down 2.2 per
cent to $128.90.
The downtown Vancouver hotel market
rallied during the 17 days of the Olympics,
with occupancy levels exceeding 90 per cent,
according to Tourism Vancouver. But a March
check of local hotels showed that occupancy
levels and average rates had fallen back.
PKF Consulting, which tracks the industry,
forecasts that REVPAR (revenue per available
room) will average $96 in Vancouver this year,
up from $86 in 2009, but far below the $100
average of three years ago.
And Vancouver is doing better than other
major western Canadian cities.
Calgary is forecast to see REVPAR of $91,
down from $94 in 2009, while Edmonton will
Photo: Richard Lam
"
price for the 23-room hotel wasn’t disclosed,
but the town of Esquimalt had put the property
up for a sale in 2009 to covered unpaid taxes
of $529,500, with no takers.
Victoria’s Huntingdon Hotel and Suites,
under court protection for 18 months, is still
for sale, and, in Nanaimo, a planned 200-room
hotel that was to be attached to the new convention centre has been stopped cold by the
developer, Suro Development Company/
Millennium Nanaimo Properties.
In Vancouver, Anthem Properties Group
bought the 233-unt Pacific Palisades hotel on
ABOVE: Robert Greer, principal with Avison
Young, at the Burrard Motor Inn, the only
Vancouver hotel to sell in the past year.
FAR LEFT: The Travelodge Hotel in Maple
Ridge sold in April for $3.6 million. LEFT:
Opening this month, the Sparkling Hill
Resort and Wellness Centre is a $122 million Vernon venture by Austrian investors.
Robson Street for $41 million last year, but
planned to convert it to residential units after
the Olympics. The venerable Hotel Georgia
will have its 300 rooms converted into 150
rooms and Delta Lands’ end game is tied to
an attached condominium and office tower.
According to Wilkinson, a hotel that has residential potential or a commercial component
has a better chance of selling in today’s market
because of the difficulty in arranging financing
on a pure hotel play.
“No major lenders will look at hotel or motel
financings,” Wilkinson said, noting that buyers often have to go to private lenders, which
charge much higher interest rates.
Mike Keenan, a broker with Avison Young,
Vancouver, who is trying to sell the 90-unit historic Dolphin Hotel in Victoria for $7.9 million, said even mortgage brokers are requiring
Please see Investors page A20
-PXFS.BJOMBOE
A20 Lower Mainland
FOR SALE
,#.''#'''
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
*/7&45034from A19
65 per cent loan-to-value ratios, which means
hotel buyers have to come up with a hefty down
payment or seek alternative financing.
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Still, the motel and hotel market offers some
tax advantage to vendors and serial buyers.
“If a hotel owner sells the assets of his hotel
and reinvests in another hotel business within
12 months of the sale completing, then he will
defer the payment of any federal capital gains
tax. If he sells the shares of the company that
owns the hotel, he will also not have to pay
the B.C. property purchase tax,” Wilkinson
explained.
The so-called rollover provision, combined
with the distressed prices, has convinced some
hotel owners that this may be the time to buy.
An example is Calgary-based Royal Host
Real Estate Investment Trust, owner of 32
hotels, which has launched an acquisition campaign under its new president and CEO, Laurie
Etkin. Etkin expects to find some bargains.
“Various investment bankers are saying in
the latter part of 2010 the markets may free
up a bit, and now would be a good time to do
that because there are distressed hotels, owners
that are in default or close to default on their
mortgages or not doing well on occupancy or
rates and are willing to sell. Whereas in 200506 you were paying up to $200,000 per door,
especially in Alberta, those hotels may go for
20 or 30 or 40 per cent less, depending on that
GAS STATION (LAND & BUILDING) FRASER
VALLEY PRICE: $1,900,000
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FRASER VALLEY PRICE: $2,800,000
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FRASER VALLEY PRICE: $1,400,000
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The overall hotel industry is being affected by
a sharp downturn in tourism and the slowdown
in large construction projects that require workers in the north and the Interior.
In 2009, overnight visits to B.C. from the
U.S. dropped 5.9 per cent and were down for
the third straight year. As well, total overseas
visitors to B.C. have been falling since 2006
and dropped a further 12 per cent in 2009.
Meanwhile, cutbacks in pipeline construction and natural gas plays has reduced room
demand for mobile workers.
Looking at the national picture, PFK is cautiously optimistic for 2010.
“With a further 1.7 per cent increase in supply, set against moderate GDP growth, occupancy is projected to improve 1 per cent to 59
per cent,” according to PFK’s latest research
paper. “Average daily rates are forecast to
marginally increase by 2 per cent in 2010 to
reach $127. Nationally, REVPAR is projected
COMMERCIAL RESIDENTIAL (MIXED)
PAMMI MANDAIR
All the negative news has not deterred some
developers proceeding with major hotel projects in both B.C. and Alberta.
Set to officially open this June, the 150-unit
Metropolitan Hotel’s Grande Rockies Resort
in Canmore, Alberta, is the “first luxury hotel
brand to open its doors in Canmore” said Henry
Wu, president of Metropolitan Hotels, which
has boutique hotels in Vancouver and Toronto.
Room rates at the Grande Rockies Resort start
at $215 per night.
It takes a special brand of courage to open in
Canmore, which last year saw the high-profile
failure of a large condo hotel and the Three
Sisters Mountain Village, the town’s largest
development.
Vernon, meanwhile, is the site for one the
most expensive and innovative new hotels in
B.C., the Sparkling Hills Resort and Wellness
Hotel, which opens this month overlooking Okanagan Lake and the Predator Ridge
golf course. It is the first hotel in Canada by
Austrian developer Gernot Swarovski, of the
famous Swarovski Crystal family.
Circle of Innovation of Austria designed
the ultra-luxury hotel, which includes a
40,000-square-foot wellness centre with indoor
and outdoor pools plus seven steam rooms and
seven saunas, including the first “cold sauna”
in Canada. Room rates start at around $200 per
night.◆
Attention
SILVER CHALLICE PUB & LIQUOR STORE – Land & Building – Foreclosure $879,000
FRASER VALLEY PUB - Nets $200,000 plus. Cap rate 19%. Very clean operation.
Great location. Share sale $999,999
NANAIMO PUB & LIQUOR STORE – $1,050,000
2½ acres. Land & buildings. Priced @ 1 x gross sales. Asset sale. Includes 2 suites.
PRICED TO SELL
SHUSWAP PUB & LIQUOR STORE $995,000 – Shopping centre location.
Agents:
NEW WESTMINSTER PUB & LIQUOR STORE – $3.1 MILLION. Great potential.
300 new residences planned.
SHUSWAP – Pub & liquor store. Great location. Gorgeous Property.
$3,450,000. Land & Building. OFFERS! 16% CAP RATE
SHERIDAN LAKE PUB – Bring any offer! 7,000sq. ft. 2 level Log bldg. MUST SELL!
KOOTENAY HOT SPRINGS PUB & LIQUOR STORE 16.6% CAP RATE
Land & Building nets $650,000 – Asset Sale. Slashed to $3,900,000
CHILLIWACK – PUB & LIQUOR STORE & RESTAURANT excellent money maker
$3,200,000. Great lease.
MANY
IF
WE DON’T HAVE IT LISTED WE WILL FIND IT FOR YOU!
NEIGHBORHOOD PUBS IN ALL PRICE RANGES NOW AVAILABLE .
BARRY BOCK / DON KAYTOR
Phone
GLENAYRE REALTY
/FXIPUFMT
SURREY PUB – Great location. Nets over $200,000. Asking $1,000,000 for business
NORTH OKANAGAN HOTEL PUB & LIQUOR STORE – asking $1,250,000
excellent opportunity. All offers presented.
NEIGHBOURHOOD LIQUOR STORES - PUBS - HOTELS - RESTAURANTS
MORE DETAILS CALL:
to grow by 2.7 per cent this year, but remember
that this if off a very low base.”
CHILLIWACK STRIP MALL – Excellent potential for expansion. Long term tenants. Nets
$276,000. Asking price $4,500,000. Cap rate approximately 6.1%
NEW WEST PUB & LIQUOR STORE – $2,800,000 Nets $500,000 plus
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CELL: 604-825-8121
OFFICE: 604-859-3141
[email protected]
5SBGGJDEPXO
LIQUOR STORES, PUBS,
HOTELS/MOTELS #SJOHBMM0GGFST
STATION (LAND & BUILDING)
FRASER VALLEY PRICE: $2,600,000
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owner and how much trouble he’s in,” Etkin
told the Calgary Herald.
Owners of smaller hotels are thinking along
the same lines, according to Robert Greer of
Avison Young, who sold the Burrard Motor Inn
in Vancouver this spring for $8 million. It was
the first Vancouver hotel sale in over a year.
The buyer is a local hotel owner who spotted an
opportunity in a good Vancouver location.
“As a buy-and-hold situation, it is a good
investment,” Greer said, noting it has a fullyleased retail component on the ground floor.
HOMELIFE BENCHMARK
TITUS REALTY
604-575-5262
Phone
604-576-9285
Fax (604) 575-2214 Email: [email protected] Website: www.barrybock.com
www.homelifebc.com
TO ADVERTISE
HERE
call Gary Takahashi
toll-free: 1-800-661-6988
direct: (604) 608-5111
or fax: (604) 669-2154
Lower Mainland A21
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
8"/5&%
For Sale
2600 square ft. COMMUNITY HALL
#:*/7&4503
and adjacent parking lot on two lots in downtown Cloverdale.
s$0APPLICATIONISINPROGRESSFORUNITSONPROPERTY
s(ALLBOASTSLARGECOOKINGANDFOODPREPARATIONAREACLOSEDINSERVING
KIOSKASSEMBLYHALLWASHROOMSADDITIONALSQFTLOFTANDTABLE
ANDCHAIRSTOSEAT
s%VENTRENTALINCOMECURRENTLYATYRWITHFARMOREPOTENTIAL
FORTHERIGHTINVESTOR
!SKING $1,250,000.
#ONTACTArt
Attention
Homelife
Agents:
TO ADVERTISE
HERE
call Gary Takahashi
toll-free: 1-800-661-6988
direct: (604) 608-5111
or fax: (604) 669-2154
[email protected]
-PXFS.BJOMBOE"QBSUNFOUCVJMEJOHT
TVJUFTBOEMBSHFSJOBOZDPOEJUJPO
.BZDPOTJEFS7BODPVWFS*TMBOEBOE
#$*OUFSJPSBTXFMM
604-835-5357
+PIO604-618-5522
MISSION INDUSTRIAL / COMMERCIAL
Cookstown, ONT - 87 pads, 14.95 acres..5,600,000
Clearwater, BC - 20 pads, 17.68 ac. Res ....999,000
Oyen, AB - 54 pads, 6.0 ac +/-, 2 parks... 950,000
Prince George, BC - 21 pads, 2.31 acres 810,000
Burns Lake, BC - 32 pads, 17 acres ....... 600,000
Langenburg, SK - 60 pads, 14 ac ........... 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: [email protected]
www.mobileparks.com
Homelife Glenayre Realty
!CRES)NDUSTRIAL,ANDs
Designated INL-1 Zone, Industrial Light Impact.
Excellent Exposure at corner of London Avenue
and Mission Way. High Visability from Mission
Bridge. Some area affected by
restrictive covenant.
gXg$ESIGNATED#OMMERCIAL
District shows Core Commercial on OCP.
High Visability from Lougheed Hwy.
Includes 2 bedroom rental home.
Call LANCE HILL
604-826-2699
[email protected]
South Surrey Residential
RYDER LAKE HOMES & PROPERTIES
CHILLIWACK, BC
39.2 ACRES
$739,900
39.4 ACRES
$749,900
50 ACRES
$800,000
10 ACRES
$499,900
10 ACRES
$370,000
IAN HORNBY
)#)#OMMERCIAL
HOMELIFE GLENAYRE
REALTY
Office: 604-795-2955
Cell: 604-799-1955
e-mail: [email protected]
RICK
TOOR
Development Property
HOMELIFE GLENAYRE
REALTY CHILLIWACK
7% CAP
[email protected]
GLENAYRE REALTY
CHILLIWACK
Office: 604-795-2955
Cell: 604-897-0260
Commercial Building $1,550,000
"Your Commercial Specialists"
FOR LEASE
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DEVELOPINAPPROXIMATELYYEARS
s ,IST0RICE$19,500,000
Contact
Bernie Scholz
HOMELIFE
Bernie Scholz Agencies
604.531.1111
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www.homelifebc.com
Commercial Building $99,000
FOR SALE
M1 Land 7000 square feet $175,000
Commercial Building $275,000
OVER 2.4 ACRES $1,499,000
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FOR
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
SALE
Industrial Warehouses For Sale
BUILDING “A”:
1 /Ê£äÓÊqÊÎ{Ó{Ê-ÊÊUÊÊ1 /Ê£äÊqÊ£ÇäxÊ-
Available Properties
Second Floor Strata Offices
BUILDING “A”:
1 /ÊÓä£ÊqÊÓäÈxÊ-ÊÊUÊÊ1 /ÊÓäÓÊqÊ£ÈÓnÊ-ÊÊUÊÊ1 /ÊÓä{ÊqÊäÊ-
BUILDING “B”:
1 /ÊÓ£ÇÊqÊÓäÈäÊ-ÊÊUÊÊ1 /ÊÓ£nÊqÊÓÎnÊ-ÊÊUÊÊ1 /ÊÓÓÊqÊÓÇÓÎÊ-
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UNIT CAN BE JOINED UPTO 7,181 & 4,073 SF
ALL UNITS HAVE HVAC – COMMON WASHROOMS
ELEVATOR TO SECOND FLOOR
FOR
LEASE
White Rock 600 to 750 SF of Commercial Space
604.671.0516
Fax: 604.882.1499
Email: [email protected]
Phone:
PORT COQUITLAM
4 LOT SUBDIVISON
$1,249,000.00
PENTICTON
PENTICTON
LUXURY MOUNTAIN TOP HOME
$2,499,000.00
LAKEFRONT PENTHOUSES
1 BDRM: 529,000.00 | 3 BDRM $1,599,000.00
LANGLEY
OSOYOOS
46 PRIVATE ACRES (2 Titles)
$6,250,000.00
LAKEFRONT RV LOTS FROM ONLY
$125,000.00
WHITE ROCK
WHITE ROCK
NEW EXECUTIVE 6 BDRM HOME
SALE PENDING! $879,000.00
NEW OCEANVIEW HOME
$1,189,000.00
COMOX
LANGFORD
NEW PRIME RETAIL SPACE FOR LEASE NEXT TO POPULAR
RETAILERS SUCH AS SHOPPERS DRUG MART.
CONDO SITE APPROVED FOR UP TO 188 UNITS
PHOENIX, AZ
SURREY (Clayton)
19 RENTAL HOMES
$1,330,000.00 USD 10% RETURN!
Please visit our website for more details
REDUCED! $4,399,000.00
Trades considered. Financing Available
www.monark.com
Coronation Park
604-592-7250
10 LOT SUBDIVISION
REDUCED! $1,249,000.00
LD
BRUCE NORMANTON
MAPLE RIDGE
16 ACRES + Large Home
$2,100,000.00
SO
Call For Details or Viewing
FLEETWOOD
Large 17,147 sq/ft lot
$559,000.00
LD
BUILDING “C”:
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We have Buyers Looking for:
Golf Courses, e-commerce companies
INVEST IN THE ONLY BOUTIQUE HOTEL IN THE
WINE CAPITAL OF CANADA
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Visit our website for more information: www.oliversuiteshotel.com
* No offering is made or intended by this communication. Any offering of interests in Oliver Suites Hotel VCC Inc. will be made only in compliance with applicable provincial securities laws.
Lower Mainland A23
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
62 LOT SUBDIVISION
9.7 acre lot in Grandview Area South Surrey
Future potential of 62 lots. NCP is already in progress
No creek level property. House rented long time.
HIGH RISE DEVELOPMENT
1.5 acre land. Half block from Gateway Skytrain Station
Two high rise projects across the street are under construction and
are fully sold. Can build up to 30 Stories.
RESIDENTIAL DEVELOPMENT SITE
14.09 Acres in South Surrey
OCP designated for RM-15 Town homes. 2 septic sites were approved
in the past. Good holding land in phase #3.
MULTI FAMILY INVESTMENT OPPORTUNITY
California / Arizona
Seeking qualified Cash Buyers For:
80 Units - $1,500,000
76 Units - $1,500,000
45 Units - $1,899,000
247 Units - $4,000,000
And many more
Contact Information
Gurdev Sandhu / Varinder Grewal
Phone 604 691 6635 or [email protected]
Committed to Canada.
Connected to the World.
Macdonald Commercial R.E.S. Ltd
JORDAN ENG
(604) 728-0883
Development Site w/Income
Central Mount Pleasant Site at East 8th
and Main Street. C3A zoning. Holding income.
145 foot frontage. Asking $7,300,000
FOR SALE or LEASE – Prime Investment Property, Maple Ridge | $4,998,000
4,000 to 40,000 Sq. Ft. of office & warehouse space of lease, located seconds
from new Golden Ears Bridge. Available for immediate possession.
FOR SALE – Fraser Valley Investment Opportunity
Long term investment to acquire 5742 sq. ft. of prime office strata unit. Solid tenant,
great location and exceptional interior design and finish. Good ROI at 7% Cap.
Dennis Germyn | 604.590.2444 | [email protected]
www.dennisgermyn.com | www.investinbc.biz
Income Producing High Traffic
D
UCE
RED
2327 E. Hastings St. New developments
nearby. Established tenants. Asking $1,048,000
Strata Retail Investment
FOR SALE
3272 West Broadway
Established high traffic location. Long term
tenant. Solid income. Asking $574,000
Restaurant For Lease
269 N. Terminal, Nanaimo BC
Central location. Reasonable rent.
Close to Downtown. $2,700/m
Food Production/
Warehouse For Lease
485 Commercial Drive
9,500 sf. High visibility corner location at East
Pender Street. Close to Downtown.
Available immed. $8/sf.
Chinatown Retail For Lease
418 Main Street
High pedestrian traffic. Central loc. Excellent
exposure. 1,394 sf $12/sf.
APARTMENT BUILDINGS FOR SALE
• 57 u. White Rock – excellent condition. Price reduced.
• Newer fully occupied mixed-use complex in Fairhaven area of Bellingham.
60 u. plus 17,000 sq. ft. commercial. Asking $14,888,000 (U.S.)
• 112 u. New Westminster High Rise – Views, U/P. Asking $16,500,000 (offers)
• Prime West End development site,132 X 131 (under contract)
• Prime Port Coquitlam condo development site for 35/40 u., 37,800 sq ft
buildable | $1,650,000
• 12 u. Marpole – needs TLC
• 15 u. New Westminster (4.75% CAP)
• 26 u. West End mid-rise
• 6 u. West End (Strata) HOT!
• 8 u. Kits W. 4th Ave, C-2 zoning
David/Mark Goodman | 604.736.5611
[email protected] | goodmanreport.com
FOR SALE BY COURT ORDER
Penticton waterfront development site
• Potential for 21 residential units and 4 commercial units
• Excellent location
• Asking Price $2,100,000
Gary Khan | 604.714.4799 or Paul Buckley | 604.551.7751
SOLD – Hotel of the Rockies, Canmore Alberta, 99 rooms | priced at $9 million
FOR SALE
• 22 room hotel w./ restaurant – under contract, Abbotsford, BC | $2,500,000
• Days Inn Hotel, Chilliwack | Only offered at $2,200,000
• Prime development site in Pentiction. Crown Resort, 30 Units lakeshore
drive, lake front,1 acre | Asking $3.5 million
• Canada Best Value Inn, 45 units, Cache Creek | $2 million
• Various hotels available in BC and Alberta. Exclusively from $2 – $20 million.
Call for details.
Hamir S Bansal | 604.714.4770 | www.hamirbansalcommercial.com
FOR SALE
• Corner strata unit at Yukon & West 8th Ave. near skytrain station. 1,226
square feet; ideal for owner uses.
• Yaletown strata units on Pacific Boulevard. Fully leased to solid tenants with
long term leases.
Eric Poon | 604.714.4768
Vancouver 604.736.5611 | Fraser Valley 604.590.2444 | www.macdonaldcommercial.com
,!.$!33%-",9s$%6%,/0-%.4s).#/-%02/0%24)%3
RICHMOND HIGH RISE SITE
1.5 Acres * Residential
Hotel * Commercial
Adjacent to new
Wall Centre Development
Sky-Train & No.3 Rd Location Sale Price: $9,200,000
SENIOR HOUSING DEVELOPMENT READY TO COMPLETE
FOR SALE
85 units - Foundation in place - Ready to complete, All plans,
studies, budgets, permits. $40,000 per unit
WHISTLER REVENUE PROPERTY $468,800
Townhouse, 3 Bdrm, 3 Bth, 1,100 SF, 5 minute walk to Creekside
Gondola. Long term tenant. Income $2,950 per month. Complex
sites on 10.5 acres. Development potential w/higher density.
91.6 ACRE ESTATE LOT
Hwy. #1 Frontage
@ 216th Ave., Langley
10.76 ACRES TO
BUILD A
COMMUNITY
Sell or J.V.
Parternship
CONDO & COMMERCIAL INVESTMENT PROPERTIES
WHISTLER CONDO – 5 Bd, 3 Bth, 2,300 SF, nightly
rentals allowed.
$1,200,000
MAPLE RIDGE – Commercial Strata Unit, 1,097 SF,
Lougheed Hwy., Retail Location, 6 Parking Stalls,
currently a Doctors Office, can be converted to large
retail unit.
$338,000
FOR LEASE – Former ICBC office. Mission Court House
- 1,000-8,000 SF, FiberOptic lines, views, corner of 7th &
Cedar Valley, 3 levels - high traffic. Inquire
ALBERTA DEVELOPMENT LAND
42 ACRES - Poplar Bay Resort, designated for creation of 27
lake side lots, Subdivision Appraised Value $3,945,000.
Sale: $2,000,000
69 ACRES – Inside Wetaskiwin City Limits, Residential,
Multi Family, Commercial, Light Industrial BP Plans.
Sale: $2,400,000
Your specialist in PRIME income-generating
and redevelopment opportunities:
DANIEL K.
PRESTON
604-617-5981
[email protected]
VIEW ADDITIONAL LISTINGS ON THE WEB
www.danpreston.ca
A24 Lower Mainland
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
ONTARIO
BALJIT KOCHHAR
Mattu Realty
HOTEL/MOTELS FOR SALE
125 room F/S – Rev. $3M
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DIRECT: 604-725-4406
604-572-1008
COMMERCIAL SPECIALIST
www.planetgrouprealty.com
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416-433-8688
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For more information, call
I-2 INDUSTRIAL PROPERTY RICHMOND
Next to Knight Street Bridge
3.796 Acres w 60,000SF BUILDING
$5,500,000
RETAIL FOR LEASE
2050 SF YALETOWN ROUNDHOUSE
Next to Canadaline
$67.00 NNN Sale Possible
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FOR SALE
23 room accomodation Squamish BC
23 Rooms
$3,250,000
Savey Mattu
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ALEX YUEN 604-338-1800
alex@macrealty .com
Macdonald Realty Ltd.
COMMERCIAL
NEW LISTING – ASKING $1,200,000
GAS STATION & CONVENIENCE
STORE SITE IN WHISTLER, BC
with Esso & Tim Hortons On the Run.
Assignment of contract. Call for details
NEW LISTING – ASKING $3,900,000
51 UNIT TOWNHOME SITE
IN MAPLE RIDGE
3rd reading almost complete. 3 acre site
with 77,000 sq ft buildable area.
APPROX. 100 ACRES
50 Acres IL zoning, 50 Acres zoned residential.
Pitt Meadows. Asking Price $53,000,000
APPROX. 17 ACRE BERRY FARM
39456 & 39452 South Parallel Rd, Abbotsford, BC.
Drip system in place. City water on site. Can build
2 homes. ASKING $1,155,000
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238 Fell Avenue, North Vancouver, B.C.
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Contact information: Chris Davies and Peter Hall
Tel: (604) 718-7300 Fax: (604) 718-7307
Email: [email protected]
BUY PROPERTY PLUS BUSINESS
Convenience Store on King George Hwy, Surrey.
Plus 3 bedrm suite upstairs. 20 years in the
business – Owners retiring. Solid Building.
Asking Price $749,000
BUSINESS FOR SALE
DAY SPA AND SALON – COQUITLAM BC
6 years in business, well established
Corporate clients. Good return 4000 sq ft space,
high end. ASKING $499,000
LOOKING FOR A SHOPPING CENTRE
IN THE LOWER MAINLAND
$15 Million to 20 Million
www.westerninvestor.com
s3ERVICES!4LOTLINE3CHOOLAND
AMENITIESNEARBY
ASKING PRICE $3,200,000
1-800-661-6988
s3UBDIVIDABLEINTOLOTS
Sutton Westcoast
JOEL KORN
(604)722-4588 [email protected]
Sutton Centre
RAV RAMPURI
(604) 351-8988
Powell River Investment
O P P O RT U N I T I E S
In-Town Oceanfront Development
Multi-purpose Waterfront 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 incl.
approx. 2700’ waterfront; incredible
panoramic views
3,100,000
Ideal Farm Land
31 acre level parcel; zoned A2 Large
Lot Rural
$279,000
50 ACRES
Subscribe
"DSFTPG'MBUMBOEJO#FBVUJGVM)PQF#$
RESTAURANT/BAR
A very hot Broadway location
Sales exceed $1 million a year
Owners net income in excess
of $200,000 a year.
Farm land Berry
Panorama Ridge Area, Surrey
"UUFOUJPO*OWFTUPST%FWFMPQFSTBOE#VJMEFST
A RARE OPPORTUNITY
Seller Relocating
Agri-Business Opportunity
117 acres fairly level land; ideal for agricultural business; many possibilities
$649,000
Great Holding/Development
30 acre wooded parcel; zoned M3 Industrial; easy access; services available
$349,000
Sears Canada Catalogue Store
Well established business; loyal
customer base; 5400 sqft lease space;
convenient location in major shopping
district
$269,900
Cranberry Lake Nursery
Well established turn-key business; 7+
acres on 3 lakefront lots; 15000+ sqft
greenhouse space; 3+1 bdrm lakefront
home
$549,000
Deep Water Moorage in Lund
3 acres low bank waterfront property;
private cove setting; minutes from
Lund harbour; plus 48 acre wooded
parcel across hwy; owner may consider
50% partnership
$1,725,000
TEXADA ISLAND
UPPER SUNSHINE COAST
$799,000
Gillies Bay General Store
Fabulous Family Business Opportunity
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Warren Behan
www.WarrenBehan.com
1-877-485-2324
[email protected]
Warren Behan Personal Real Estate Corporation
A25
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
FEATURE With land topping $1 million an acre, developers looking for infill sites and higher lease rates
PETER MITHAM
WESTERN INVESTOR
edevelopment of town-centre
properties and more intensive uses
of greenfield sites are what retail
development is all about as an under-retailed
region gets back on its feet.
3
Shape Properties Corp. of Vancouver is
pursuing both approaches.
Shape recently joined with Healthcare of
Ontario Pension Plan to buy Brentwood Town
Centre in Burnaby from Ontario Pension
Board for approximately $100 million and
plans to redevelop the mall, which originally
opened in 1961. It’s also building an ambitious
centre adjacent to the new Mount Lehman
interchange in Abbotsford.
Both projects are ramping up on-site density, a reflection of the shortage of available
development sites in the Lower Mainland.
Competition for sites has increased the per-acre
cost of most sites above $1 million, at which
point landlords would need to fetch rents even
anchor tenants aren’t willing to pay.
“There just isn’t the developable land,
even if you’re in Abbotsford,” said Darren
Kwiatkowski, executive vice-president of
Shape, said.
The challenge is prompting Shape to pursue opportunities such as the redevelopment
of Brentwood, which it plans to triple in size
from approximately 500,000 square feet today
to 1.5 million square feet by 2015. Retail space
as well as office space and residential units will
be added to the mall. The complex will be integrated with transit in keeping with municipal
plans for the site – designated as one of Metro
Vancouver’s town centres in the 1996 regional
growth strategy.
"CCPUTGPSE
But it’s also maxing out density in Abbotsford,
where site coverage of its High Street project at
the Mount Lehman interchange will cover 90
per cent of the site rather than the typical 25 per
cent to 35 per cent coverage. Parking will be
incorporated within the structure of the centre,
which Kwiatkowski describes as a hybrid of
suburban and urban retail models.
Kwiatkowski points to Wal-Mart’s approach
in areas such as South Surrey. Wal-Mart’s
location at Grandview Corners (24th Avenue
and 160 Street) features under-store parking,
which allows the store to maintain its footprint
but eliminates the need for a huge parking
lot. A similar approach is being followed in
Abbotsford.
It not only helps Shape maximize use of the
site, but it also reflects the drive to density happening across the Lower Mainland driven by
land costs.
“You wouldn’t see that in Alberta, you
wouldn’t see that in the United States,”
Kwiatkowski said. “It’s a trend unique to the
Lower Mainland, a very land-constrained market, and a population that’s very urban that’s
not getting in their cars and driving out to the
ring road – the retailers are coming to them.”
Still, there are challenges.
Abbotsford isn’t quite downtown Vancouver,
where compact retail design has given rise to
urban-style power centres in areas such as the
Cambie-Broadway hub in Vancouver. It’s a
harder sell in suburban markets where transit
isn’t the dominant or even the most convenient
means of transportation.
“Retailers are becoming accustomed to it
because that’s what they’re seeing in urban
Vancouver,” said Shane Epp, associate vicepresident with CB Richard Ellis in Vancouver.
Grocers and drugstores are catching on to the
model, too, even though most suburbanites
continue to drive for weekly shopping.
“If it’s the only game in town, it’s much
easier to sell,” Epp said of the new, compact
forms of retail. “If they’re competing against
an existing food store across the street in a traditional format, a lot of guys don’t want to try
Photo: Shape Properties
3FUBJMEFOTJUZ
Brentwood Mall: Ontario pension group, Shape Properties plan to triple the size to 1.5
million square feet, plus residential.
that on for size.”
Corners in Surrey, as well as Onni Group’s
But there’s another factor at play – sheer Fremont Village development in Port
economics.
Coquitlam, not to mention Shape’s projects in
the Fraser Valley.
But the common elements in most of the pro-BOETIPSUBHFT
Epp, who has traditionally focused on new jects are Wal-Mart, and the mixing of uses.
“Any development over 500,000 square
projects, has spent much of the past two
years filling vacancies in existing projects. feet will likely have a Wal-Mart,” said
Development costs and the rents tenants are Derick Fluker, a retail broker with Colliers
willing to pay have stalled new projects in International. “From there it just becomes a
larger development.”
many areas.
Mixing uses, as several projects in Vancouver
“There’s just no tracts of land available that
guys can plan new projects on at this point,” he have demonstrated, allows developers to incorsaid. “Until we see land prices come off signifi- porate lucrative residential units that effectively
cantly or retailers really stepping up to pay big, subsidize retail units, typically located at grade
big numbers, I don’t see a huge amount of new or in the podium of a tower.
projects coming on stream, at least in the main
Fluker said when new residential developsuburban areas.”
ment ground to a halt in 2009, the supply of
With high land prices and construction costs new retail space also stopped.
of $120 to $150 per square foot, Epp estimated
Metro Vancouver retail vacancies ended
that a new mall would have to command rents 2009 at 3 per cent, down from 4.2 per cent
in excess of $30 a square foot to be viable – at at the beginning of the year. Power centres
least twice as much as most anchor tenants are and mixed-use properties boasted the lowest
willing to pay in suburban markets.
vacancy, at just 0.9 per cent, while neighbourNotable exceptions are Morgan Crossing hood and super-regional malls had the highest
by Larco Investments Ltd. and Grandview at 4.1 per cent and 5.6 per cent, respectively.◆
-PXFS.BJOMBOE
FOR SALE
INDUSTRIAL LAND CHILLIWACK
G:6A:HI6I:
PUBS FOR SALE
6J8I>DC
Lower Mainland
Pub & Liquor Store
Opportunities
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JgWVcAd[iA^k^c\^ci]Z=ZVgid[HZX]Zai!7#8#
&)Jc^ihVkV^aVWaZ·)Jc^ihidWZHDA9
jcgZhZgkZYidi]Z]^\]Zhi7^YYZg
6aajc^ihVgZXjggZcianiZcVciZYl^i]VlV^ia^hi#
3 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
s,OTSARELEVELWITHCOMPACTED
GRAVELBASE
s3OMELOTSOFFERDUALROADFRONTAGE
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WAREHOUSINGFOODPROCESSING
OUTSIDESTORAGEETC
BOB PLOWRIGHT REALTY
CHILLIWACK, BC
1-800-830-7175 - 604-858-7179
[email protected]
www.bobplowright.com
6lVgYl^cc^c\YZh^\c!B>9IDLCd[[ZghVXdciZbedgVgn
jgWVc!LZhi8dVhi[ZZal^i]^ci]Z]ZVgid[9dlcidlc
6aajc^ihXdbZXdbeaZiZl^i]Veea^VcXZh#FjVa^inÄc^h]ZY
l^i]]VgYlddYÅddgh!=jciZg9dj\aVhWa^cYh!hda^YlddY
XVW^cZih^c`^iX]ZchVcYWVi]h!ÅddgidXZ^a^c\l^cYdlh
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I]^hVjXi^dc^hegZhZciZYWn6WaZGZVain8dge#&(&"-i]HigZZi!CZlLZhib^chiZg!7#8#K(B(E+
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For Lower Mainland Pub Opportunities call:
JOHN JOHNSON
Tel: 604-319-2504
Fax: 604-463-5287
PRUDENTIAL
STERLING
REALTY LTD.
JOHN JOHNSON
A26 Lower Mainland
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
▲
June 2010
deadline May 10th
• REPORT: Waterfront real estate
• Buying foreclosures
• Native land developments
• Fishing lodges
• Franchise News
• Recreational Properties
• REGIONAL ROUNDUPS
• BC: Kamloops
• AB: Grande Prairie
• MB: Steinbach
• SPOTLIGHT: Ucluelet, BC
▲
July 2010
deadline June 14th
• REPORT: Industrial real estate
• Golf course real estate
• Mobile home parks
• Angel investors
• Buying & selling
restaurants/pubs
• Franchise News
• Recreational Properties
• REGIONAL ROUNDUPS
• BC: Kelowna
• AB: Cold Lake
• SPOTLIGHT: Fort McMurray, AB
Media Kit On-Line @ www.westerninvestor.com
Commercial Real Estate, Franchises & Business Opportunities
call toll free 1-800-661-6988
604-669-8500
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
SUNSHINECOAST,BC
ML#V4017627
Robbie’s Pancake House
Reduced $64,000
Busy, long established family restaurant in Gibsons,
operating since 2001. Restaurant seats 75 plus 44 seats
in the banquet room and can be rented for meetings and
occasions. Great visibility, high traffic area. .
ML#V4015937
Lot 39 Seamount Road
Sea to Sky/Sunshine Coast Region A27
SQUAMISH INVESTMENTS
PRIME COMMERCIAL
INVESTMENT
Gateway Corner Property
Dwtn dev site w/income $1.98 Mil
1.1 Acre Dwtn Dev Site
High density zoning, Blks to
Oceanfront and University $5.50 Mil
I-1 Revenue Property
0.55 Acre, tenants $1.19 Mil
Mixed Use Site 18,000 sf
Dwtn, blks to oceanfront $1.16 Mil
NEW PRICE $2,575,000
DOWNTOWN SQUAMISH
$239,000
Light industrial, uptown Gibsons,1 block off main hwy,
level and fully fenced. Many uses with great exposure.
Call Terry for details.
ML#V4014759
Mermaid Street
NEW SQUAMISH OCEANFRONT PLAN!
Darren McCartney
RE/MAX Sea to Sky
604-892-4875
Real Estate
Squamish
[email protected]
$149,900
OFFICE/RETAIL SPACE, ground level, 800 sq.ft. Great
downtown location, high foot traffic and 1 blk to mall
and transit. Call Terry for details.
ML#V4021517
"The Dock" on Cowrie Street
$1,419,000
Mainstreet, downtown location with excellent exposure.
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#V4020280
Sechelt Esso Station
$799,000
Corner gas station/convenience store in prime downtown location. Lots of potential with large overall sales
in gas and store items. Environmental report on file. Call
Terry for details.
TERRY & PAM
BRACKETT
1-800-895-4313
[email protected]
Remax Oceanview Realty
GREAT COMMERCIAL
INVESTMENT OPPORTUNITY IN
DOWNTOWN SQUAMISH!
Sunshine Coast – Pender Harbour
Prime location with great exposure
and lots of traffic. Subject property
consists of 2 buildings with approx.
12,000 sq ft of leasable area. The
2 buildings front Pemberton and
Second Avenue, right across from
the Chieftain Centre Mall. Subject
property is 100% occupied with
a great tenant mix – most have
been tenants for over 10 years.
Mountain View Service
Well established Petro-Canada
service station on 6 acres at busy
highway corner location.
Includes fenced storage compound
& convenience store
with lots of potential
for expansion.
Price: $3,500,000
Bill Hunsche
FOR A DETAILED PACKAGE CONTACT B6GI>CHEG:C@:AH
604-905-8525
[email protected]
Prudential Sussex Realty
[email protected]
SECHELT
Highway Commercial Property
0.53 Acres, mixed use site $1.40 Mil
Retail Revenue Property
National Tenants! $829k
Mixed Use Revenue Property
Residential/office/other $889k
6 Acre Residential Development Site
Panoramic views in Squamish’s best
neighborhood $8.00 Mil
C21 PERFORMANCE REALTY AND MANAGEMENT
POWELL RIVER OPPORTUNITIES
SELL
Selling your business? Western
Investor Business Opportunity pages
are organized geographically so readers can find the opportunity they want.
1-800-661-6988
NEW
E
PRIC
WESTCOAST WILDERNESS LODGE
12 UNIT APARTMENT
Welcome to Cedar Lodge B&B, a well-known
destination for years. The lodge offers 2 self-contained
suites, 2 B&B rooms and four other bedrooms. There
is also a freshly renovated 3 bedroom cabin, a roomy
workshop plus 2 double carports. The current owners
have just completed a substantial addition and
upgrades. They have added over 1200 sqft, upgraded
the suites and the gorgeous kitchen with granite
counters. The lodge is located on 3.5 acres near Okeover
Arm and Desolation Marine Park. $850,000
2 buildings. Each building has 6 2-bedroom town
homes in it. Each unit offers a covered patio
and porch, ocean view deck and a large carport.
Town homes have oak floors under carpets and
concrete block construction to provide sound and
fireproofing. There are also 2 separate laundry and
utility buildings plus extra parking. All units are
rented. Good income and cash flow. call now for
all the details. REDUCED TO $450,000 each.
NEW
E
PRIC
MOBILE HOME PARK FOR SALE
Six-unit park with three of the homes owned by the
park. Great income. Park is on the Lang Bay Water
System and has a septic system in place. Property
is nearly 2 acres. With views of the mountains and
walking distance to sand beaches at Palm Beach.
Call now for all the details. $299,000
AARON MAZUREK
1-877-485-4231
VOJRVF
QSPQFSUZ
Do you have a
Advertise your listings in our
special )051301&35*&4 feature.
Reach potential buyers with money to spend. Western Investor readers have
higher than average household income and a real interest in real estate.
Recreational Real Estate • Limited spaces • 4-colour ads
ADVERTISING FEATURE: • Special rates
Èä{ÈÈnxääÊUÊ£nääÈÈ£Ènn
[email protected]
A28 Vancouver Island
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
PUB AND LIQUOR STORE
WHERE NANAIMO DOES
SEATs/UTDOORPATIOsTREEDACRES
sDUALZONINGsLIVINGQUARTERSs(WYFRONTAGE
REAL ESTATE
DUTCHY’S INT. KITCHEN
s0ICKUP$ELIVERYs0EROGIES"ORCHT
s7ILLTRAINs!FFORDABLE $19,700
BUSINESS FOR SALE
s0IZZA3TOREs$40ARKSVILLE
s'REAT)NCOMEs7ILL4RAIN
SUBDIVIDABLE ACREAGE
www.3025douglas.com
$2,449,000
s!CRESs7ELLTREED$499,000
NANAIM0 REVENUE PROPERTY
For further information please call;
s&OUR0LEXs$OWNTOWNs7ELL-AINTAINED
s.EW2OOF7INDOWS $364,900
HOTEL – FULL SERVICE FLAGGED HOTEL
s )NCLUDES$ETACHED,IQUOR3TORE
s .EW0UB
s &ULLY2ENOVATED2OOMS
s !BOVE.ORMAL/CCUPANCY
s "ANQUET&ACILITY
#ONTACTWayne
Dumbrell OR
Jim Johnson (250) 756-9700
LEASE SPACE
s $OWNTOWN2ETAIL
s $OWNTOWN2ESTAURANT
s 7AREHOUSING
DAN JACK
1-800-533-4153
[email protected]
WHITECAP REALTY PARKSVILLE
GFIK8C9<IE@#9:
LARGE & SMALL BUSINESSES
s 3ELECTION)N6ARIOUS0RICE2ANGES!LL
/VER6ANCOUVER)SLAND
***BUSINESS FINANCING SERVICES AVAILABLE***
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Zcfj`e^%C`m\`ek_\dfY`c\Xe[jgi\X[flkfm\ik_`jgifg\ikp
NANAIMO
(250) 756-9700 or 1-866-386-2735
2UTHERFORD2OAD)N,ONG,AKE0LAZA
CORNEROF2UTHERFORD2D)SLAND(WY
<JK?<I=<EKFE
($///$.)*$(/''k]),'$.)*$(/''cfZXc
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nnn%<jk_\i=\ekfe%Zfd\jk_\i7\jk_\i]\ekfe%Zfd
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1-866-386-2735 OR
[email protected]
NANAIMO & VANCOUVER ISLAND PROPERTIES
Ê,É8Ê" * "
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DEVELOPMENT SITES
NORTH NANAIMO OCEAN VIEW CONDO DEV SITE
Approved plan with city for 23 units.
$599,000
3 ACRE OCEAN VIEW DEV SITE
North Nanaimo unrestricted ocean view, owner will
take trades or finance. $1,250,000
71 UNIT APARTMENT
BLOCK 4 separate buildings.
New Renos. Over $500,000
spent. North Island location. Over $27,000 monthly
income. Management in
Place.
$2,450,000
HERITAGE APARTMENT
BLOCK
13 self contained units.
1 commercial space plus
lease pub & license.
Gross revenue $10,000/
month
Asking $1,125,000
OCEAN FRONT CONDO DEV SITE
24 units, approved plan, overlooks new marina.
Presale included. $1,500,000
FORECLOSURE OCEAN VIEW DEVELOPMENT
9 Acre, 30 lot subdivision in Chase River
Quiet neighbourgood property is beautifully treed
And would accommodate 30 – 36 strata single family
homes or small lots. Mortgager may finance.
Trades welcome.
$998,000
OCEAN VIEW DEV SITE
RM5 includes 2 rental houses
2 lots DP for 28 units. $650,000
3 ACRE TOWNHOME DEV SITE
Stunning ocean view up to 30 units. Trades welcome.
$1,199,000
NORTH NANAIMO 51 UNIT APPROVED PLAN
FOR OCEAN VIEW CONDOS
Over 1/2 acre site. Financing available.
Asking $1,300,000
50 ACRE + ADJOINING 43 ACRE PARCEL
Subdividable into 5 acre country estates.
Priced at S998,500
FORECLOSURE COURT ORDERED SALES
FORECLOSURE – 5500 SF
Commercial building on
Terminal Ave. 4 garage
bays, 800 sf mezzanine
office, ideal for automotive,
Glass shop, sales and
distribution $499,000
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
28 UNIT CONDO DEVELOPMENT SITE
Fabulous ocean views. 1 acres. Financing available.
$888,000
INCOME PRODUCING + REVENUE PROPERTIES
180 UNIT MINISTORAGE
With managers suite & office
Excellent occupancy
½ acre additional property
for future expansion
$1,499,000
NEW! NOW SELLING
OCEAN FRONT
CONDOS
“PACIFICA”
38 Front Street Units for sale.
Call Dale for available units.
WATERFRONT TOWNHOME
1740 SF 2 bedrooms, hardwood
floors, granite counter tops, roof
top patio. $599,000
DOWNTOWN NANAIMO OCEAN VIEW
High Rise Development site. $1,200,000
33 UNIT MOBILE HOME PARK
Plus 2 rental houses & 5 RV pads. Needs work, currently
has low occupancy with current revenue at $8,500/month
Asking $695,000
NEW WALK ON WATERFRONT TOWNHOME $519,000
PANORAMIC OCEAN VIEW DEV. SITE
24 Lots approved residential subdivision property
Cost estimates available Asking $1,475,000
INVESTMENT PACKAGE
$550,000
North Island 7 condos, rental income over $4500 monthly
BUSINESS FOR SALE NANAIMO
Trendy restaurant & martini lounge with adjoining c-store.
$219,000 INCL. EQUIP.
HOTELS & PUBS
FULLY SERVICED HOTEL Recently renovated, 30 rooms, 125 seat pub, wine and beer store. Generating over $1.5 million annually and growing. fÓ]äxä]äääÊ-iiÀÊÜÊv>Vi°
NORTH ISLAND HOTEL & PUB, WINE & BEER STORE Rooms and restaurants. 2 lots. Over 3.9 Million annual sales. $2,995,000
HOTEL & WINE & BEER STORE 8 suites, pub. Close to Nanaimo airport. $1,190,000
HERITAGE APTS & PUB 13 small apartments. 115 seat pub leased.
1 commercial space - leased. Generating over $10,000 monthly.
Asking $1,125,000
70 UNIT APARTMENT BLOCK 2 buildings, 2 legal lots. $38,000
monthly income. $3M assumable mortgage at 5.2%.
Asking $5.49M
DALE SHORTT
Bus: (250) 758-3700 U TOLL FREE 1-800-665-8313
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Vancouver Island A29
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
REGIONAL ROUNDUP The Harmac mill back in business but city faces tax battle, huge hole downtown
/BOBJNPCBSSJFST
STEVE PYLE
WESTERN INVESTOR
he Harmac Pacific pulp mill –
plucked out of receivership for
$13.2 million – looks like a true
sweetheart deal now that the company is
one of a scant few in the North American
industry to be turning a profit.
The 2008 purchase of the waterfront manufacturing facility in south Nanaimo also included 1,300 acres of land, some of which company
president Levi Sampson said could make sense
to place onto the market.
“We do have options on the real estate front,”
Sampson said, adding that the actual mill site
occupies about 258 acres. “If we have a plot of
land we could sell sometime down the road, we
definitely plan on taking a look at that.”
Before any property decisions could be
made, however, Sampson said in an interview
from China, where he was drumming up more
market action, Harmac needs to sort out its protracted tax bill issues with the city and the BC
Assessment Authority.
¡*OUIFCMBDL¢
The mill was owned by Pope & Talbot Inc.,
which employees say ran it into the ground
before closure. Now 230 employees and three
equity partners including the Sampson family,
which amassed its fortune in western Canadian
oil and gas ventures, own it. Harmac remains a
private company that is not required to release
its financial records.
“We’re in the black, that’s all I’ll say about
that,” Sampson said.
Financial success can cause self-inflicted
victimization, though, and in this case the taxman not only came calling, but did so with a
bullhorn.
For 2009, the provincial assessment authority valued the mill and its ancillary holdings at
close to $90 million. The city then demanded
Photo: Tourism Nanaimo
5
Nanaimo: commercial real estate sales have strengthened but key downtown conference
hotel has been cancelled, and there is a shortage of zoned land for new development.
taxes of around $3.6 million, but the company
is arguing in its appeal, still being reviewed,
that a $3.6 million collection for an asset
appraised just one year earlier at $13.2 million
is more than a bit of a stretch.
The city did reduce Harmac’s industrial
taxes by 15 per cent for this year and the same
again in 2011, before another 22 per cent reduction kicks in for 2012. Nanaimo mayor John
Ruttan said he believes that because his city
is showing leadership on the tax issue, he is
hopeful Harmac would agree to pay on time
that portion of its taxes not under dispute.
The quarrel will be part of a provincial
review expected to table recommendations this
fall on the entire heavy industrial taxation matter between producers and the various coastal
municipalities with big mills.
The industry took the matter to BC Supreme
Court last year arguing that its tax requirements were unfair in the new economic reality,
but basically got nowhere.
Both the city and company are in a position
to benefit from an agreement. Not only does
Harmac own a sizeable chunk of raw land in the
city, but Nanaimo still suffers from a shortage
of properties with the right zoning needed for
industrial and/or commercial development.
Anyone thinking of developing an office
complex in Nanaimo now has few options
other than to purchase an existing business or
suitably zoned land with a building then renovate, or tear down and build from scratch, local
agents say.
)PUFMDBODFMMFE
Ruttan, with just a few years under his belt
holding the number 1 political office of the city,
already had his hands full when interviewed.
The city’s jewel development project – a downtown highrise hotel with almost 200 rooms to
complement the Vancouver Island Conference
Centre – had just gone bust.
The city estimated it has sunk about
$3 million into the project since its 2004 inception, while Suro Development Company/
Millennium Nanaimo Properties of
Vancouver cited another $1.6 million on its side
of the ledger. All that’s left from the envisioning, planning, engineering, drawing and talk
now is an unsightly hole in the ground smack in
the middle of the downtown waterfront area.
In announcing the project’s death knell, both
sides were saying nice things about the other
and the usual platitudes were flying, but there
was a palatable undercurrent of rancour the
doomed project has engendered in a history of
tire spinning.
Hard feelings would be natural, with the city
believing it had done its part only to see one
corporate promise after another not materialize.
On the other side, Suro/Millenium was seeking
joint ventures until the final hour as it hoped to
recoup at least some of its losses.
But the hammer fell on the corporation at
the end of March. “While Suro/Millenium
expressed interest in continuing to work on
the project, the City of Nanaimo will not be
granting an extension,” Ruttan announced. “We
are disappointed that the agreement is going to
lapse and the hotel has not proceeded, but we
feel that over the long term this decision is in
the best interests of the city and taxpayers.”
Ruttan said there are other companies interested in proceeding with the venture and he
believed the improved economic climate will
improve the situation. Right now, the city has
a beautiful, modern convention facility but
only a fraction of the hotel rooms required for
the centre to draw enough delegates to pay the
centre’s costs.
During the interview, Ruttan admitted the
city would like to recover some of its losses,
too. He did utter the words “legal action” and
“courts,” which he then quickly modified with
“expensive.”
The last thing the city needed at this point, he
said finally, was a protracted battle between the
lawyers and, with the case definitely up in the
air about who would own ultimate responsibility for the failure, damage control appears the
Please see Steady page A30
7BODPVWFS*TMBOE
VANCOUVER ISLAND
OPPORTUNITIES
POWELL RIVER, BC
OCEAN VIEW MOTEL
Framing/ Passport Business, Parksville
sHigh profile location
Multi Unit Development Sites, Parksville
sExisting Revenue While Holding
$259,000 & $289,000
Land Package: Lots, Revenue, Duplex,
Qualicum Beach Purchase All or Part.
s0RICES3TARTAT$219,000
Strategic Holding Development Site,
Qualicum Beach Multi-family and
Commercial Permit in Place. Over 1 Acre
Downtown. $1,250,000
Commercial Hotel/ Condominium,
Qualicum Beach.$EVELOPMENT3ITE
Existing Income in Place. Views of Ocean
& Golf Course. $2,335,000
Resort Revenue Properties, Rathtrevor
Beach Area. Flexible Personal Use & Rental.
Opportunities. Priced From $251,300
Ian Lindsay & Frank Fairley:
[email protected]
First Realty
$1,199,000
Downtown hotel next to marina and ferry
terminal. 23 rooms, 150 seat restaurant,
lounge with bar, 125 seat pub and separate
banquet room. 3 levels, loads of storage,
part basement and over 20,000 sq. ft.
Call Don McLeod
604-483-8044
[email protected]
Don McLeod Personal Real Estate Corp.
Powell River
Independently owned
and operated
VANCOUVER ISLAND Comox Valley
Residential Commercial
Mixed Use Building
LIGHT INDUSTRIAL STRATA 1400 – 1500 sq ft.
Over 20' ceilings - 2 full storeys allowed.
2 units left @ $274,900
REVENUE PROPERTY Multi tenant health centre
3,000 sq.ft. strata. $329,900 REDUCED
LAKE COWICHAN ASKING $1,670,000
♦ Great Location on Main Street
♦ Fully renovated 2008 and 2009
♦ 13 residential suites 10-2bdrms /
1-1bdrm / 2-bach
♦ 7 commercial store fronts
♦ 38 unit mini storage secure and heated
♦ All units separately metered / Resident
manager
♦ Room for more expansion
♦ Extra 20,000 sq. ft. lot zoned C1
40 ACRES PRIME AGRICULTURAL LAND
Central Courtenay. Adjacent to bypass. $675,000
ÊÊ
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Central Courtenay - $14/ sq.ft + 3NT.
CENTRAL COMOX INVESTMENT PROPERTIES
UÊ£°ÈÊ>VÊfÈx]äääÊÊUÊ°Ç£Ê>VÊfnxä]äää
Bring your business ideas and make use of the
store front or purchase just an investment
Rob Samsom
Tim Parker 1-800-668-2272
Gerry Chaperon 250-748-4443
AACI CCIM FRI
PERSONAL REAL ESTATE CORPORATION
1-888-829-7205
www.robsamsom.ca
RE/MAX Ocean Pacific Realty
FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE
7 PLUS ACRES
TURN KEY ESTABLISHED HOUSE/STRUCTURAL MOVING BUSINESS
on beautiful Vancouver Island BC. Established for 40 years.
2 “Modern” unified hydraulic jacking systems.
One system is 1 yr old.
OCEAN VIEWS
All steel, dollies, 2 sets of steering dollies, blockings,
crane truck, towing truck, pickups & crummy.
$400,000.00.
Owners will partially finance. Reason for selling is retirement.
250 248.1071 1.888.243.1071 www.ianlindsay.ca
#21-826 West Island, Parksville - at Wembley Mall
Each office is independently owned and operated
VANCOUVER ISLAND
0!2+36),,%s15!,)#5-
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DFH Real Estate Victoria
ÓxäÇ{nÇÇxÈÊUÊÓxäÇ£äÇÇxxÊUÊÓxä{ÇÓÊ
email [email protected]
Zoned for seniors agrigate care with multi family
near by- many uses- hospitals, schools, medical
facilities. Ideal Nanaimo location.
Seller may carry a first mortgage with good down.
Asking $2,250,000.00
RON POSTEY
“Providing Professional Service Since 1980”
250 756-2112
Sutton Group - West Coast Realty
An Independent Member Broker
A30 Vancouver Island
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
2VJDLGBDUT
45&"%:from A29
most attractive option.
“Anyway, we really don’t know how
much we could go after,” Ruttan said. “SuroMillenium set up a kind of shell corporation
for this project. How much that that actually
has in assets is a question we’ve yet to have
answered.”
BRITISH COLUMBIA
Port Hardy
19
Powell River
Campbell River
$PNNFSDJBMTBMFT
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8IBMF8BUDIJOH$PNQBOZ
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Meanwhile, the Nanaimo commercial property market was characterized as “hot” by Jay
Cousins of Re/Max, who deals exclusively
with commercial listings,
“My spring has been exceptionally active,”
he said. “We have all kinds of pent-up demand
right now, with buyers waiting in the wings
to purchase revenue properties. There’s an
upswing in confidence, which wasn’t there 12
months ago. This has created some real demand
scenarios.”
Earlier this year, Cousins sold a 19-unit
apartment block which was on the market for
just 12 days. “And right now I have an offer on
a [asking price $2.395 million] 29-suite place,”
he said.
Brian Lee of Re/Max said the residential
market is holding, with steady activity. The
average price of a single-family home in
Nanaimo in March, 2009, was $351,000, but
for the same month this year was $355,000.
Lee said he continued to receive calls regularly from people in Alberta, Ontario and other
parts of Canada looking for lots on which they
Courtenay
Vancouver
VANCOUVER
ISLAND
NANAIMO ✪
19
/BOBJNP#$
Population 84,000
Average detached house price $355,000
Major employers Government, service,
fishing, construction, tourism
plan to build retirement homes in the future.
“The greatest number of sales we seem to
be making right now are houses in the range
between $250,000 and $300,000,” he said.
"DDFTTGPSEJTBCMFE
Nanaimo, like other B.C. cities, has adopted
universal building standards for new commercial structures and commercial renovations.
Therefore, builders should be prepared for
potentially significant development costs to
transform structures into handicapped-accessible commercial space.◆
PARKSVILLE
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4EL
JJLAWYER TELUSNET
BUY
DEVELOPMENT SITE
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UÊPrice $975,000
WWWJJONESLAWOFlCECOM
MEMBER4HE.ETWORK,AWYERS"USINESS0ROPERTY.ETWORK
Your hunt for the right investment could
be right in the pages of the Western
Investor. Every month you’ll find
$2 Billion worth of opportunities.
;dg9ZiV^aZY>c[dgbVi^dc
EaZVhZ8dciVXi/
IAIN MACDONELL
RE/MAX SELECT
PROPERTIES
(604) 328-3929
WWW.MACDONELLS.COM
1-800-661-6988
VANCOUVER ISLAND COMMERCIAL
www.nanaimoremaxcommercial.com
1-877-335-4380
Jay Cousins Realty
FOR SALE
UÊÊÊÊ/Ê 1-/,Ê *,"*,/9 – 6 acres zoned MU-1,
mixed use. Outside buildings include an 11,000 sq.ft. shop area
and a 1000 sq.ft. dry kiln. Services include well with ample water,
200 amp electrical service, with a back up generator for 3-phase
power, and a septic field. Also, a custom built timber frame home,
approximately 2200 sq.ft. in size, with 5 bedrooms, 2 bathrooms,
and a den.
f£°ÓÊ
UÊÊÊÊ-//Ê -°Ê Ê xÊ >VÀiÊ ÃÌiÊ âi`Ê £ÇÊ `iÛi«i`Ê
with two 11,000 sq.ft buildings, and a small office building.
Large paved area, 600 amp, 600 volt, 3 phase power supply.
Currently operating as a sawmill, but is ideally suited for many
other uses. ÕÃÌÊ ,i`ÕVi`Ê ÌÊ f£°£xÊ ]Ê ÀÊ i>ÃiÊ vÀÊ
fÈ°ää«ÃvÊiÌ
UÊÊÊÊ 1-/,Ê Ê– Zoned I-1.2, five acres w/ large shop,
office, home with 2 suites. Great visibility from the New Island
Highway at Parksville. Lots of room for more development.
2000 sq. ft. of shop space available for lease. $875,000
U 1-/,Ê
"*8Ê– Zoned I-2. Three acre site near
Parksville. Improvements consist of a 3900 sq. ft. office,
6000 sq. ft. shop area, and 3 covered areas. Part, or all, of
this site is available for lease. Potential income when fully
leased is approximately $100,000 per annum. Just reduced
to $1,190,000
U "1,/Ê ",,Ê ÉÊ 69Ê 1-/,Ê <" Ê qÊ
<" Ê4ÊqÊ£°xxÊ>VÀiÃÊV>Ìi`ÊÊ>Õ}
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Point Industrial Park. The 332 x 331 ft. lot has excellent exposure
>`Ê vÀÌ>}iÊ Ê LÌ
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FRANK JOHNSON
Jay Cousins
[email protected]
of Nanaimo
Frank Johnson
[email protected]
www.nanaimoremaxcommercial.com
1-877-423-0984
INVESTMENT OPPORTUNITIES
INVESTMENT OPPORTUNITIES
INVESTMENT OPPORTUNITIES
UÊÊ
"1,/Ê ",,Ê - – Approx. 2,100 sq. ft. 2 - Storey
building on a small lot in Central Nanaimo near the heart of the City.
Fabulous exposure on Island Highway, terrific access & parking.
$350,000
U Ê 6°Ê "**",/1 /9Ê qÊ *,-6 - .91 of an
acre with over 240 feet of frontage on main Highway thoroughfare
through town. CS-2 tourist commercial zoning allows broad
range of accommodation & related services. Subdivision from
large 3.2 acre piece has received 3rd reading. Potential “Build to
Suit” for long term quality tenant
$875,000
UÊ +1/9Ê ,6 1Ê *,"*,/9Ê "7 /"7 Ê
"1,/ 9 Approx. 12,000 Sq. Ft. with 3 floors of office/
retail space. Upgrades include new heat pumps, new thermo
windows. Shows 9% CAP rate at current price $975,000
UÊÊÓÊ 1 /Ê *,/ /Ê "
Ê qÊ iÌÀ>Ê >>
12- two bedroom & 17 – one bedroom with den suites, approx.
23 years old, separately metered with tenant paid electric heat, 2
storey walk-up, 4 year old roof, Info portfolio. $2,395,000
UÊ "Ê /9Ê +1,/,Ê 3,500 sq. ft. C-25 Commercial
space on 3 levels. Complete renovations in 1992. prime
location, nicely updated property including 400 amp electrical-a wonderful character investment in a thriving community.
$429,000
U /,Ê "Ê- 5,600 sqft warehouse & offices.
Steel building on 0.6 acre w/security fencing, 2 overhead
doors, ample useable yard space & air conditioned offices.
For lease or for sale.
,1
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U "7-,Ê7""7", ÊqÊ20 years of success mark
this unique niche business manufacturing cedar lattice
fence, arbours, gates, etc plus cedar survey stakes and IP
lot line markers. Newly built shop, storage buildings and 2nd
floor 2 bedroom residence above fully operating assembly
facility. Inventory purchased separately.
$849,000
U 7/,," /Ê*,"*,/9Ê" ÊÊ
"7
ÊNearly
6 1/2 acres with 450 feet of walk on beach front zoned tourist
commercial. Current 4 bedroom home has had significant
upgrades & buildings include workshop, storage shed &
aircraft hangar. Foreshore lease is a distinct possibility with an
application. Terrific living/holding property. $2,495,000
U /7"Ê "
/" Ê ,]Ê ,6Ê EÊ /,1
Ê 7-Ê in MidIsland area. Very successful, high visibility locations,
exceptional profit picture in excess of 10% of asking price.
Confidentiality agreement required on this share sale
business opportunity.
$2,675,000
U 1Ê -,6
Ê *,"1 Ê Ê ,6Ê *>ÀÃ]Ê -«>Ê
EÊ ,iÃÀÌ]Ê -ÕÌ
Ê >>É9iÜ«ÌÊ >Ài>°Ê -iÌting on Haslam Creek on 31 acres. Includes Par 3 golf
course, swimming pool, clubhouse convenience store
& more. 90 serviced sites plus tenting & group areas. Additional 50% remaining for future development.
fÊÓ]ää]äää
JAY COUSINS
JAY COUSINS
JAY COUSINS
UÊÊ1- --]Ê 1 Ê EÊ – Nanaimo Fully renovated & redesigned 35 seat restaurant with terrific reputation &
loyal clientele, excellent exposure & signage
$525,000
UÊÊ
",
Ê,6 1Ê*,"*,/9 single user building with National Franchise tenant for over 15 yrs. Fully triple
net lease shows over 7 1/2% CAP rate.
$619,000
UÊÊ£ÈÊ1 /Ê*,/ /Ê"
– Port Alberni. Completely
rebuilt from ground up. New everything. 2 –Storey walk-up
14 – 1’s, 2 bachelor, now almost full. $81,000 per door will
show 7% CAP shortly. Information portfolio available
$1,295,000
UÊÊ1Ê -,6
Ê , with 30 year foreshore lease.
1,000 feet of moorage, fuel dock, mini-storage, conv. Store,
government agency liquor store & commercial & residential
tenants for added income. Next door foreshore lease (sublease from Shell Oil) included.
$1,595,000
S O LD
S O LD
S O LD
BUSINESSES
UÊVan Isle Video – Parksville Franchise
$69,900
UÊWine Kitz Franchise in North Nanaimo
$69,900
UÊBusy Café w/ Patio – Qualicum
$89,000
UÊThai Food Restaurant – Nanaimo
$89,900
UÊÊSports Restaurant & Concessions - Nanaimo $99,900
UÊÊSuccessful Tire Store -ParksvilleÊ f]äää³ iÜÊÛiÌÀÞ
UÊLucky Loonie Store – Parksville
$99,900
UÊTaco Del Mar Restaurant – Campbell River
$119,000
UÊBastion Janitorial Cleaning & Supply - Nanaimo $129,000
U Fitness Franchise for Women – Nanaimo
U Serious Coffee Franchise – Nanaimo
UÊFull Service Heavy Duty Repair Business
UÊGood Old Book Exchange Business - Nanaimo
$149,000
$169,000
$179,000
$199,000
UÊ1µÕiÊ>ÀÊEÊ,iÃÌ>ÕÀ>ÌÊÊÜÌÜÊ >>Ê $219,000
UÊ7iÊÃÌ>LÃ
i`Ê
vviiÊ-
«ÊEÊ
>vjÊqÊ+Õ>VÕÊ $249,000
UÊ`i«i`iÌÊÕÌÊ-iÀÛViÊÕÃiÃÃÊqÊÕV>Ê $275,000
A31
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
FEATURE Small-biz owners say a blizzard of regulations could prove fatal when harmonized tax kicks in
%FBUIBOEUBYFT
GLEN KORSTROM
WESTERN INVESTOR
ritish Columbia small-business
owners who procrastinate or fail to
prepare in May for the 12 per cent
harmonized sales tax (HST) in July risk a
host of negative consequences.
Nasty surprises include cash crunches or
government penalties for doing things wrong,
said certified general accountant Eileen
Reppenhagen.
“You can’t just switch July 1,” said
Reppenhagen, who created the tax tip website
Taxdetective.ca.
“From May 1, you have to examine every
transaction’s component parts. The HST starts
July 1 for [inventory] delivered after that date.
If you’ve invoiced for them or charged for them
ahead of that time, you have to assess the HST
ahead of time.”
Reppenhagen’s biggest lesson for smallbusiness owners is that the HST is complicated – so complicated that Reppenhagen advises
entrepreneurs who do their own taxes to consider hiring an accountant.
*MMFHBM
Those who forsake this advice should be aware
of the following elements of the new tax:
• it is illegal to advertise or advise customers
to avoid the HST by buying a product before
July 1. Doing so, Reppenhagen said, will incite
the wrath of Canada Revenue Agency tax
officials;
• so-called place-of-supply rules are likely
to change. These regulations determine what
province’s tax rate applies when products or
services are sold across provincial boundaries;
and
• businesses are likely to need more capital
up front to finance an operating line of credit.
Funeral services and caskets are an example
of a product that many people buy for them-
Photo: Dominic Schaefer
#
Tom Crean, owner of Kearney Funeral Home, will likely have to charge out-of-province
customers the HST when new federal regulations begin July 1.
selves or loved ones years ahead of time.
Customers will be able to avoid the HST by
buying these services now. But tax officials
take a dim view of businesses that promote
buying now to avoid the HST, Reppenhagen
said.
$BTIDSVODI
Doing so could prompt federal tax collectors
to deem that the HST should have been paid,
she said.
That’s news to Chris Benesch, who is the
government services committee chair at the
Funeral Association of B.C.
“There are at least a dozen funeral homes
that I can think of that have put ads or signs out,
sent letters or made phone calls to get people to
buy now,” Benesch said.
Advertising that urges buyers to “beat the
HST” is also common in the new-home industry, where some builders have made tax avoidance the cornerstone of marketing this spring.
Home renovators are also urging clients to have
“It’s the same thing with tickets or fees for work done early.
a sports team. If you’re a soccer dad, and your
team normally sells tickets or collects money in 0VUPGQSPWJODF
July for the season of September to March, you With regard to so-called “place of supply” rules
can’t all of a sudden switch your collection date – which determine what tax a B.C. business
to April and say, ‘We’re collecting early this pays if it sells a product or service to a customer
year to get around the HST,’” Reppenhagen who lives in another province – Reppenhagen
said.
pointed to Ottawa’s bulletin #B103 as an exam-
“It is illegal to advertise
or advise customers to
avoid the HST by buying
a product before July 1”
ple of how complicated these rules will be.
That bulletin aims to convey the changes to
business owners by walking them through 47
pages that explain 128 examples.
“Complicated enough for you?”
Reppenhagen asked.
Kearney Funeral Home owner Tom Crean
is an example of someone who could be affected.
He sells funeral services across provincial
boundaries frequently. Until now, he has not
charged any provincial sales tax.
He left it up to his out-of-province customers
to deal with their home province’s tax authorities to determine what, if any, tax was owed.
In future, there’s a good chance that Crean
will have to charge out-of-province customers
the HST and hold the money in trust for the
federal government, Reppenhagen said.
She did not want to say that this will definitely happen because the federal rules have
yet to become law.
The likely change would arise because the
HST and PST are different animals.
B.C. businesses previously did not charge
PST when selling to someone who lived
in Saskatchewan, for example, because
Saskatchewan tax officials had no jurisdiction
to seek that tax from a B.C. business.
Once B.C. has the HST, federal tax officials
will have that authority. So, Reppenhagen said,
B.C. small businesses are likely to have to start
charging sales tax to out-of-province customers. Finally, she advises small-business owners
to realize that the tax changes could create a
cash crunch.
Clothing retailers, for example, don’t currently pay PST on inventory. Instead, they
give their PST exemption number to suppliers.
Retailers then collect PST from customers and
pass that tax to Victoria.
Once the HST is law, clothing retailers will
have to pay HST on inventory. They will then
charge customers the HST and pass the difference to Ottawa, Reppenhagen said.
“That’s cash flow being pinched,” she
said.◆
7BODPVWFS*TMBOE
Investment
sNET#APSQFTOFlCE"LDG
YR"#'OV,EASE
$1,260,000
sNETCAPSQFT)ND7AREHOUSE
&ULLYLEASEDTENANTS
$679,000
sNETCAPPOTENTIALSQFTRETAIL
"LDGYRNATIONALTENANT
$465,000
sSQFTRETAILOFlCEBLDGDOWNTOWN
.ANAIMOPOTENTIALNETCAP
$899,000
sSQFTRETAILOFlCEBLDGDOWNTOWN
.ANAIMO-ANYUPGRADES
$1,295,000
Development Lands
sACRES#ITYLIMITSZONED-(PARK2ES-F
$3,984,000
s!C-FSITEUNITSAPPROVED.ANAIMO
$2,850,000
s!C-&2ETAILSTORY$EVSITEFRONTING
3TSDOWNTOWN.ANAIMOSOMECURRENTINCOME
$675,000
s!C-(-FZONEDSITE
$898,000
s!C2VPARK2ESZONED
ACTIVESITESTITLES
$1,895,000
LLOYD LOEPPKY
2OYAL,E0AGE.ANAIMO
LLOYD NANAIMOFORSALECOM
1 800 377 4374
A32 Vancouver Island
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
West Coast Vancouver Island
Fishing Resort - Bamfield
Business Is Better
On Vancouver Island
Oceanfront main house and four cottages,
Offshore Grady White guide boat. Great cash flow
and a steady repeat client base.
$775,000
Commercial Lot and Sales Office
- Nanaimo
Currently a used car lot, level, paved,
fenced,signage, sales building all on the Island
Highway close to the Airport and Duke Point
Ferry Terminal. Great location for any type of
outside sales.
$325,000
PETER GALLACHER
1-800-779-4966
NANAIMO
[email protected]
LIQUOR STORE, HERITAGE HOTEL
AND COMMERCIAL TENANTSMID ISLAND
BE A
BIG FISH
RICHARD
GOLDNEY
MAR C
LACOU V EE
1-800-668-3622
250-752-2466
250-228-3428
www.RGoldney.com
[email protected]
www.MarcLaCouvee.com
[email protected]
$5,100,000
6.53 acre site with development permits in place.
Renovated Hotel with 70+ Rooms - Campbell River
New Office and Commercial Building - Central Nanaimo
Spaces available in new commercial/office building on Terminal Avenue.
Heavy Industrial Opportunity - Duke Point
QUALICUM BEACH COMMERCIAL C2
2 commercial lots 275 ft. frontage. Water &
sewer. Across from miles of sandy beach.
1100 sq.ft. rancher.
$ 475,000
$2,295,000
$ 321,000
to $2,259,000
$2,050,000
7,417 sq ft strata unit with National Tenant in Brentwood Bay.
$1,995,000
5 acres of level fenced property zoned I-4.
Light Industrial Opportunity - Duke Point
$1,975,000
New 10,000 sq ft building on 1.83 acres of I-2 zoned land.
Light Industrial Warehouse - Central Nanaimo
$1,875,000
15,200 sq ft building on 1.27 acres.
Ocean View Development Property - Nanaimo
$1,875,000
9.49 acres RM-5 and RS-1 Zoned.
254 Acre Land Parcel - Sproat Lake
$1,795,000
Excellent view scapes and development potential.
6 Acre Development Property - Parksville
$1,675,000
Strategically located among established resort developments.
Dominant market position
ensures continued success.
laundry facilities and pay showers. 5 Lots
all commercial on water and sewer. 22 fully
serviced sites plus 15 camp sites. $ 625,000
Coldwell Banker Commercial
FIRST VICTORIA REALTY
Multi-Family Development Site - Parksville
PARKSVILLE 4.5 Acres bordering Inland
Island Hwy. Easy access to Parksville.
Property surrounded by commercial lots.
O.C.P. recommends change to commercial
zoning.
$ 525,000
$7,500,000
Preliminary approval for 18 lot subdivision.
Investment - Fully Leased Commercial Strata Unit
PORT ALICE - Gateway to the Pacific
Ocean Camp Ground, Restaurant, plus pay
David Turner (250) 661-6900.
519 Acre Parcel of Oceanfront Property - Campbell River
RE/MAX ANCHOR REALTY 113 2 Ave W Box 1890
1UALICUM"EACH"#s6+4
IN A SMALL POND!
Asking: $4,100,000
For Sale
ERRINGTON 2.5 Acres of property in a well
established 4 pad mobile home mini-park.
Own your own ps park like setting that creates
income.
$ 239,900
Heavy Industrial Property - Duke Point
$1,345,000
New 6,900 sq ft building on 0.91 acre of I-4 zoned land.
Lakefront Irish Themed Pub - Lake Cowichan
$ 995,000
Offer included business, land and buildings including boat dock.
Retail Business & Demolition Contractor
$ 975,000
New and used building materials in Central Island location.
Nanaimo Residential Development Property
$ 975,000
4.88 acres near the Nanaimo Parkway.
Multi-Family Development Site
$ 769,000
33,261 sq ft RM-5 zoned lot in North Nanaimo.
Commercial Property - Alberni Highway
$ 590,000
1.11 acres with exceptional highway frontage.
QUALICUM BAY Change your life, try this
excellent business opportunity. Own your
own sawmill, Central Island Wood products.
Custom milling from decking to fencing.
$110,000
QUALICUM BEACH Garden Centre and
3,300 sq.ft. home on 2.87 acres in heart of
Qualicum town.
$1,776,000
COOMBS - Prancing Pony Gifts: two
storefronts in the side portion of World
famous
"Goats-On-The-Roof"
Coombs
Market. Unique products and crafts from
local and world artists.
$85,000
UCLUELET 2 acres Fishing unloading and ice
plant. 500 lineal feet waterfront plus foreshore
rights
$959,000
ED HANDJA
www.bcoceanfront.com
Phone: 1-800-563-7322 UÊ
i\ 250-287-0011
Downtown Commercial Land and Building - Nanaimo
$ 475,000
7,391 sq ft lot with 66 ft frontage onto Terminal Avenue with 2 storey building.
Commercial Zoned Land and Building - Port Alberni
$ 289,000
10,956 sq ft lot with 132 ft road frontage and 3,526 sq ft building.
Commercial Strata Units - Qualicum Beach
$
$
$
to $
Spaces available from 1,000 sq ft - 3,000 sq ft.
to
VIVO - Downtown Nanaimo Commercial Units
Spaces available from 386 sq ft - 764 sq ft.
190,000
550,000
149,000
279,000
Featured Listings
Investment Opportunity- Condominium Development
12 unit condominium development on Rutherford Road in Nanaimo
Offered at $2,700,000
Waterfront Restaurant, Land & Building
COURT ORDERED SALE - Maple Bay
Building includes self-contained 1,604 sq ft suite.
Offered at $729,000
Pub & Restaurant, Land & Building
COURT ORDERED SALE - Gold River
Includes 3.69 acres of land, 5,400 sq ft building, two liquor
licenses, and one-bedroom self-contained suite.
Offered at $595,000
Investment Property
Commercial Investment Property
$ 1,175,000
18,000 sq ft site on Bowen Road with 10,600 sq ft tenanted building.
Parksville - Redevelopment Property 1.17 Acres CM-2 Zoned
Downtown Commercial Building - Ladysmith
$ 981,000
$ 950,000
12,285 sq ft tenanted commercial/warehouse building on .33 acre.
ALERT BAY, OCEANVIEW CABINS
The only going concern of its kind! Well
maintained resort style accommodations with
Government clientele & EXCELLENT REVENUE!
12 nicely renovated ocean view cabins, from
300–640sqft each, & separate managers’
accommodation minutes from the amenities of
town, incredible fishing, spectacular scenery,
breathtaking marine wildlife & unlimited
adventure.
$750,000
QUADRA ISLAND RESORT
Spectacular commercially zoned 8-acre
oceanfront property with 390ft of low-bank
easy access frontage, SW exposure &
incredible marine views, previously operated
as the Quadra Resort. Improvements include
a main residence, 3 duplex cottages, large
Quonset shop & substantial private moorage
facilities. An ideal resort development
opportunity.
$1,245,000
ONE STOP CONVENIENCE, CAMPBELL RIVER
Well established rural residential convenience
store with an attached 2-bedroom 1185sqft
suite, private backyard & storage sheds as
well as a well stocked 1365sqft store-front
offering assorted amenities from toiletries &
basic supplies to movie rentals & lottery sales.
An excellent rental or live & work from home.
Suite currently rented. Be your own boss!
$349,900
ISLAND HWY, CAMPBELL RIVER
20,455sqft Commercial / Light Industrial
facility on 2.4 level acres in a location with
excellent exposure, good vehicular traffic &
direct highway access. Shop & offices are
easy to partition off to accommodate smaller
lease spaces. Offices Warehouse 5 Bay Shop
Electrical & Lunch Room 600Volt 3-phase
electrical 2x10Ton Overhead Cranes.
$8./sq.ft plus TN
1.2 Acres C-12 Zoned on Nanaimo Parkway
Nanaimo - Downtown Lot C-13 Zoned on Nicol Street
Nanaimo - Downtown Lot C-17 Zoned on Albert Street
$ 795,000
$ 350,000
$ 179,000
Business Opportunities
RECREATIONAL BOAT MAINTENANCE BUSINESS— French Creek
HIGH END RESTAURANT—Campbell River
AUTHENTIC JAPANESE SUSHI RESTAURANT—Nanaimo
CUSTOM WOODWORKING BUSINESS—Victoria
SEWING MACHINE & FABRIC RETAILER—Nanaimo
ESTABLISHED PLUMBING & HEATING BUSINESS—Nanaimo
MOTOR SPORTS RETAILER—Nanaimo
ENGINE MACHINING & PARTS BUSINESS—Nanaimo
ESTABLISHED PLUMBING & HEATING BUSINESS—Nanaimo
On 7,560 sq ft lot with 1,300 sq ft building
SPECIALITY MACHINE SHOP—Central Vancouver Island
ENGINE MACHINING & PARTS BUSINESS—Nanaimo
With Strata Titled land and building
SPECIALITY MACHINE SHOP—Central Vancouver Island
On 16,988 sq ft lot with 150 ft road frontage and 6,528 sq ft building
FRANCHISED MOVING & STORAGE CO. with 20% ROI
PUB & LIQUOR STORE—Central Vancouver Island
CEDAR SHAKE/SHINGLE MANUFACTURER - www.bcfshake.com
Land, Buildings, Foreshore Leases and Equipment, Inventory extra
FRANCHISED HOTEL—Duncan
Includes pub and conference facilities and unused liquor store license
$
$
$
$
$
$
$
$
$
125,000
169,000
170,000
174,000
195,000
250,000
295,000
395,000
650,000
$ 900,000
$ 950,000
$1,700,000
$2,550,000
$3,600,000
$3,900,000
$7,400,000
Gerry Van Vaals Personal Real Estate Corporation
DTZ Barnicke Nanaimo Ltd.
Tel: 1 800 769 5757
[email protected]
www.dtznanaimo.com
Vancouver Island A33
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
one Deals is our monthly feature
highlighting some of the major
real estate transactions completed
recently in Western Canada’s vibrant commercial real estate market.
%
From: Colliers International, Vancouver.
Colliers executive vice-president Avtar
Bains and associate vice-president Deepek
Dhawan sold the following:
• Deal: 62,094-square-foot retail centre,
fully leased and anchored by Home Depot,
Sweden Way, Richmond. Sold for vendors
Great West Life Assurance Company Inc.
and London Life Insurance Company to
buyer Dayhu Investments Ltd. Price: $21
million.
Our readers report on recent commercial real estate deals across Western Canada
• Deal: 3.9-acre commercial site at 144
Avenue and Manning Drive, Edmonton.
Sold for vendor Servus Credit Union Ltd.
to buyer Kingsway Legion No. 175. Price
$3.04 million.
• Deal: 1.3-acre commercial site at 137
Avenue and 50th Street, Edmonton. Sold for
vendor Amcan Investments Ltd. to buyer
1425794 Alberta Ltd. Price: $1.2 million.
• Deal: 72-unit concrete apartment building,
Vancouver’s West End, built in 1964. Sold
with multiple backup offers. Price: $8 million.
From: NAI Commercial, Vancouver. NAI
agents Terry Harding and Jackson Tang
sold the following:
• Deal: 48-unit apartment building, Austin
Avenue, Coquitlam. Sold for vendor
Smallwood/Vine to buyer Robert Lee Ltd.
Price: $5.17 million.
• Deal: 36-unit apartment building, Gilmore
Avenue, Burnaby. Sold for vendor 438336
B.C. Ltd. to buyer Richland Ent. Price: $4.4
million.
From: Legacy Real Estate Service, Calgary.
Kevin Moore of Legacy reports the following sale:
• Deal:156-acres of raw land on 84th Street,
East Calgary. Sold by an undisclosed buyer to
the City of Calgary. Price: $26.5 million.
From: Re/Max Colonial Pacific, Surrey,
B.C. Re/Max agent Dean Bauman sold the
following:
• Deal: 5.2-acre townhouse site, King George
Highway, Surrey. Price $4.2 million.
• Deal: 3.9-acre townhouse site, 61st Avenue,
Surrey. Price: $7.18 million.
From Macdonald Commercial, Vancouver.
Macdonald Agents Mark and David
Goodman report the following sale:
From: Gaetz Realty Inc., Edmonton. Owner/
broker Bob Gaetz reports the following
sales:
From: DTZ Barnicke Nanaimo Ltd.,
Nanaimo. DTZ Barnicke agent Gerry Van
Vaals sold the following:
• Deal: 9.17-acre residential site, Nanaimo,
planned for 132-suite congregate retirement
residence. Sold to an undisclosed buyer.
Price: $2.43 million.
• Deal: 3.42 acres of development property,
Nanaimo, with 5,000-square-foot commercial
building. Price: $2.2 million.
Photo: Colliers International
%0/&%&"-4
This 62,094-square-foot fully leased
retail centre, Sweden Way, Richmond,
sold for $21 million.
From: Colliers International, Fort
McMurray. Alberta. Colliers agent Ken
Shebib leased the following:
• Deal: 9,321-square-foot office building,
Fort McMurray. Leased to Graham Group
Ltd. two years. Price: $24 per square foot.
From: Realty Executives Commercial, • Deal: 3,890-square-foot industrial bay.
Edmonton. Realty Executives agent Mike Leased to Phoenix Industrial for three
Eurchuk sold the following.
years. Price $30 per square foot.
• Deal: 5,800-square-foot office/warehouse on
0.46 acres, fenced. Sold for vendor 1076965 Recently completed a deal?
Alberta Ltd. to buyer 989369 Alberta Ltd. For a free report here, send details to
Price: $775,000
[email protected]
7BODPVWFS*TMBOE
VANCOUVER ISLAND ICI:
ROB PHILLIPS
Toll free: 1-800-715-3999
Cell: 250-897-8508
Email: [email protected]
w w w. r o b p h i l l i p s . c a
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VHUYLFHWRSHRSOHLQILQDQFLDOFULVLV
Campbell River
UÊ««ÀÝ°ÊӣʣÉÓÊ>VÀiÃÊÊÌÜÊÀi>`ÞÊ
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$2,150,000
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www.4pillarsfranchise.ca/dc/
marketing
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Coast Realt y Group
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Call Christine at the
1-800-661-6988 (604) 608-5110
[email protected]
Vancouver Island
BOB CLARKE
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L A N D
LANGFORD / WESTERN COMMUNITIES
7.5 + Acres of Langford Development Land
Neighbourhood Institutional (P1A zoning)
Possible uses are: School, Church, Daycare, Community
Assembly, Care Facility, Assisted Living & Residential.
Currently has 3 Existing Buildings with Income and is
adjacent to new Westhills Development. $2,290,000
PA C K A G E S
SHAWNIGAN LAKE / MALAHAT
Raw land in 2 Parcels of 2.64 & 3.46 Acres at Shawnigan
Lake just waiting for someone to carve out their slice
of paradise. Located near the Old Mill Regional Park
off of East Shawnigan Lake Road. Zoned Rural
Residential R2 / Area B.
$399,900 & $438,800
JACK DAVIS Call Toll-free:1-866-598-3571
DAVIS REALTY CORPORATION
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3306 Henderson Road Victoria BC V8P 5A7
1.9 Acres Industrial
5 minutes to Hwy 19, 5 minutes to downtown
Courtenay. Light industrial zoned. Currently
earning a 6.1% cap rate. From 4 tenants. Zoning
allows for Mini-Storage. Great potential.
Piped water to lot, currently on well & septic.
Asking $430,000
2 Shuttle Licenses
Unreserved airport, hotel/resort, home, door to
door pick-up and drop-off. Service to: Nanaimo,
Port Alberni, Campbell River, Comox Valley &
Mt Washington.
Website: www.ambassadorshuttleservice.ca
Asking $150,000
Top Producing Restaurant:
46,000+ meals/year!!!
This location sells more seafood per year
than any restaurant on Vancouver Island.
16 years proven track record. Just spent
$80,000+ on upgrades..turnkey operation.
Asking: $339,000 Pay off in 3 years
Industrial Building, downtown Courtenay
Award winning renovation on this 6900 s.f.
Building with 1500s.f. showroom, the rest
warehouse space. Dock loading…2 minutes to
downtown. Seller will rent back for $4500/mo
NNN
Asking $695,000
COMOX VALLEY,
A34 Vancouver Island
www.westerninvestor.com MAY 2010 WESTERN INVESTOR
JUDY GRAY, CCIM
Comox Valley
1.800.600.1718
Vancouver Island:
Great investment opportunity,
showing steady annual growth.
Asking: $1,449,000
CONTACT:
Errol Flynn: 250-897-2222
Rob Phillips: 250-897-8508
Toll free: 1-800-715-3999
O
pportunity to purchase prime
RESTAURANT premise in VICTORIA's
premiere new hotel/resort property,
located in high traffic area within walking
distance to Inner Harbour, tourist
attraction & Beacon Hill Park.
SYLVIA THERRIEN
Personal Real Estate Corp
Tel: 250.388.5882
www.sylviatherrien.ca
$550,000
(upland and adjacent prop. also avail.)
1.58 acre Semi-Waterfront
Development Site
Vancouver Island
!
CE
W
Former Fish Plant w/Foreshore Lease
Restaurant: approx. 4,381 sq. ft.,
shell - $1,989,000
I
PR
NE
MID-ISLAND REALTY
Equestrian Farm Estate: One of a kind well regarded
world class Thoroughbred property considered one of the
finest producing farms in North America! Situated in
North Saanich this pastoral 12 ac estate with 33,000 sq’of
buildings & facilities built to highest of standards. This
unparalleled Equestrian Estate offered @ $4,400,000
Open to proposals! www.orangeblossomfarm.ca
Also available 20 adjoining acs @ $2,000,000
Parksville
Motel
This 24 unit Motel is located in a
highly visible area in the heart of
Parksville. Growing revenues &
stabilized expenses make this a
solid investment. The spacious
Manager’s
accommodation
is
ideal for a family run operation.
Room configurations & rates are
available.
$1,375,000
Aaron Nicklen & Ian Mackay
www.aaronnicklen.com
1.888.954.4433
Suite 103–1801 Bay Street,
PO Box 195, Ucluelet. BC.
Canada V0R 3A0
$985,000 Lot 1 Marine Drive
Saanich Peninsula Oceanfront: Arts & Crafts 2300 sq’ cottage set in easy care property w/
west exposure. .........................................................................................................$1,595,000
Retail, Marine Railways & Docks
Saanich Peninsula Oceanfront: 50’s bungalow set in low bank property w/walk on beach.
Updating required. ...................................................................................................$1,050,000
Victoria Penthouse: 2 level condominium w/unobstructed Victoria Harbour & city views! This
open plan home has 3 bedrms & bathrms, 2 decks, 2 fireplaces, 6 appliances, 2 parking spaces.
Across from park & Fisherman’s wharf. ........................................................................ $799,000
$1,200,000 Owner’s quarters above
18.32 Acre Campground
Deep Cove Oceanfront: Charming modern
West Coast home set in a private landscaped
garden w/expansive west views & sunsets.
.................................................. $2,399,000
Ten Mile Point Oceanfront: An impressive
modern Mediterranean style 8500 sq’ 3 level
home w/expansive marine views.. $4,795,000
Peter Nash | 250.384.0566 direct
877.388.5882
[email protected]
www.peternash.com
$1,997,000
52 sites + 3 group + 10 overflow
www.judygray.com
Victoria
39 bucks could make you millions ...
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COMMERCIAL REAL ESTATE, FRANCHISES AND BUSINESS OPPORTUNITIES
Vancouver Island A35
WESTERN INVESTOR MAY 2010 www.westerninvestor.com
#SJUJTI$PMVNCJB
HST has home
builders spooked
BC
’s pending harmonized sales tax (HST)
has home builders spooked, with
some cancelling projects and others working
to complete sales before the tax kicks in.
When one breaks down the HST, which
comes in July 1, and compares it to the current PST/GST, the bottom line extra cost for
a typical new-home buyer works out to about
3 per cent to 4 per cent added to the cost,
according to the Greater Vancouver Home
Builders’ Association (GVHBA).
But that is not what consumers will see,
the builders noted.
On an $800,000 new house (average price
outside of Metro Vancouver) the HST will total
about $70,000 (after a flat $26,250 rebate)
This is enough, builders say, to stop some
people from buying, perhaps a lot of people.
“All consumers are going to look at it is the
bottom line,” one veteran builder said. “It will
be difficult to explain how the former PST was
buried in the price.”
One Squamish townhouse builder, who
was planning to build 28 units, has stopped
the project because of the HST. “He figured
out that the government would make more
profit than he would,” said Peter Simpson,
executive director of the GVHBA. On a new
$700,000 townhouse, the builder figured, he
would make about $20,000 profit. The HST on
each unit would be approximately $57,000.
There are other concerns for suppliers.
Chief worry is that a lot of PST and HSTfree building materials will be arriving in B.C.
from both Alberta and the U.S.A. One custom
builder priced out a high-end hardware package for a new house, after the HST, and found
she could save 50 per cent of the $20,000
price by buying in Washington state, even
after all duties were paid. Others expect to see
everything from lumber to appliances being
shipped in from Alberta (though the B.C. government is said to be plugging this loophole).
For some builders and renovators the big
fear is the underground economy. The HST
will add 7 per cent to the cost of labour,
which had previously been free of the provincial sales tax, “I have clients already asking
me to work on cash-only deals to avoid tax.
There will be a lot more when the HST comes
in,” said Vancouver renovator Ralph Belisle.
Industrial land
rules queried
N
o extra regulations and intelligent
industrial zoning – that’s the call by
developers, brokers and consultants in
response to Metro Vancouver’s new regional
growth strategy.
The most recent meeting of commercial real
estate and development association NAIOP
showcased some of the views. Vancouver
Coun. Suzanne Anton was given a few
moments at the start of the March 18 meeting
to assure NAIOP members that moves by Metro
Vancouver to assign specific uses to industrial
land concerned her.
Ron Emerson, one of three panellists at
the meeting discussing development issues,
took up the thread later, urging planners to
recognize that the economics of industrial
land in the Lower Mainland limit the returns
possible to owners. This in turn places potential development sites at risk.
He said that planners need to ensure sites
are available for industrial development.
“We’ve got to have the land that’s properly
located for industry available to industry.”
But the majority opinion rejects the idea of
an industrial land reserve or any additional
levels of bureaucracy.
While further regulation would be a boon
for consultants such as Gary Pooni, president
of Brook + Associates Inc., Pooni said he
would rather spend his time on more constructive aspects of development projects.
“It’s not the right thing to do,” he said. “I’d
rather find a way to make good development
projects happen, not manufacture more red
tape and restrictions so that good projects do
not happen. That doesn’t help create positive
change in any neighbourhood.”
– Peter Mitham/BIV
)PUFMTUIFXJMEDBSEJO
EPXOUPXODBTJOPQMBZ
T
he B.C. government has announced
that Paragon Development Inc. has
signed a 70-year lease agreement with
the B.C. Pavilion Corporation (PavCo)
to develop a giant hotel/casino entertainment complex attached to BC Place
stadium in downtown Vancouver. But
some say the hotels could be a gamble.
Subject to municipal approval, the
$450 million complex will feature two
hotels and a casino with up to 1,500 slot
machines and 150 tables. Some Vancouver
Rendering of proposed $450 million
real estate analysts, however, say the
casino and hotel complex beside B.C. Place,
hotels may prove a gamble.
Vancouver.
According to a government news release,
nearby Edgewater Casino – which has 493 slot machines and 65 tables – will close once the
new complex is ready for occupation.
Paragon won the right to develop that complex following a “competitive bidding process
that attracted multiple proposals,” according to a government release.
The project, when approved by Vancouver council, is expected to create 3,200 jobs during
construction and about 2,000 jobs once complete. The government estimates it will generate
$130 million in annual gaming revenues.
Pending the rezoning application, construction is planned to begin early next year and
be complete in mid-2013. Rezoning is not expected to be a hurdle, since the land belongs
to the province.
The development is expected to help pay for the $458 million contract to replace the aging
roof on B.C. Place stadium with a retractable model.
The hotel component may be a challenge, however. PKF Consulting forecasts that
Vancouver hotels will see 67 per cent average occupancies this year, down from 74 per cent
three years ago and up only marginally from the recession of 2009. Revenue per room for
Vancouver hotels is also at three-year lows.
Some realtors say building two new hotels in downtown Vancouver is simply not viable
in today’s market.
Photo: B.C. Pavilion Corporation
8 ) "5 ¤ 4 ) " 1 1 & / * / ( * /
Asian immigrants
flooding into B.C.
BC
is leading all provinces in population growth, with a net gain of
72,209 residents in the year ended January
2010, according to Statistics Canada, and
the bulk of the newcomers are immigrants.
B.C.’s population is now 4.49 million and is
expanding at a rate of 1.6 per cent annually, StatsCan reports.
VancouverIsland OPPORTUNITIES
Strata-titled
Apartment Building
FOR SALE
Campbell River
ASKING PRICE $1,850,000
Semi-Watefront Condo Site
COMOX VALLEY
ED
Prime for development of 70 Luxury Suites, Adjoining
waterfront walkway. Designs already approved. Close to
all amenities; parks, green space reserves, shopping.
Did I mention the WATERFRONT!!!
Dale McCartney 1-800-638-4226
Ray Pellerin 1-800-377-4374
ASKING PRICE $ $699,000
Heritage B & B NANAIMO
Ocean & Mountain Views, beautifully restored,
3 bedrooms & owners quarters.
SERIOUS COFFEE FRANCHISE
Popular V.I. specialty coffee franchise.
T.I. included. Like new condition
Ideal semi-retirement opportunity
ASKING $199,000
$129,000
Call RAY PELLERIN
250-756-1132 or
Toll Free: 1-800-377-4374
www.raypellerin.com
RAY PELLERIN
NANAIMO REALTY
In the fourth quarter of last year, total
net migration to B.C. was 16,955, up from
15,543 in the third quarter. The vast majority
of immigrants are from China and Southeast
Asia, and more than 90 per cent settle in the
Lower Mainland. Victoria, second place for
immigrants, attracts just 4 per cent of the
annual influx.
Net immigration (seasonally adjusted)
increased to 14,364 in the fourth quarter
2009, up from 12,978 from the third quarter. People moving in from other provinces
accounted for only 2,722 people.◆
UC
D
RE
Lifestyle Investment
Port Alberni B& B
P
s
s
s
s
rime riverfront location,
spectacular curb appeal
Superb exposure to high
Pacific Rim tourist traffic
4 Luxury guest suites
Separate open concept
executive residence
Fishing charter business
negotiable, 26 ft Bayliner,
truck & trailer
$985,000
www.bbforsale.ca
HUMMINGBIRD GUESTHOUSE & CHARTERS 5769 River Road, Port Alberni, BC
Cheryl & Wayne Creelman
250-720-2111s1-888-720-2114
WWWHUMMINGBIRDGUESTHOUSECOMs%MAIL#HERYL HUMMINGBIRDGUESTHOUSECOM
23 individually titled strata condos
in quality, freshened building. The
flexibility of this structure is hard
to beat. As your needs dictate, you
could re-sell one unit at a time or
all units at once -- it’s up to you. 16
2-beds; 7 studios. Units reno’d with
new bathrooms, kitchen appliances
& more. Campbell River has everything
going for it - a diversified economy,
all the big box stores and real growth
momentum. Price is a significant
discount over individual market value.
$1,685,000. Email for profile.
Owner
[email protected]
A36
www.westerninvestor.com MAY 2010 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
DEVELOPMENT LAND
PROFESSIONAL ANALYSIS OF
YOUR PROPERTY OR BUSINESS
IF YOU NEED TO SELL
PITT MEADOWS 47 UNIT CONDO SITE
Plans for 5 level mixed use building at 124 Ave & Harris Rd.
Enivro, Geotech, & Architectural included –fees already paid
$1,550,000 Call or email David!
INDUSTRIAL OPPORTUNITY
COQUITLAM High
profile end unit off
United Boulevard.
5000 square feet –
3700sf office, 1500 sf
warehouse 2 grade level
doors. Adjacent 1 acre yard space also for lease with this offering!
For Lease @ $11.50/sq.ft. NNN For Sale at $925,000
*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. $1,449,000.
COQUITLAM BRAND NEW Convenience/Coffee/Grocery/
Cigarettes/Lotto/News Store
near Coquitlam Centre.
NOT A FRANCHISE!! Includes
all Brand New Equipment
$449,900
LEASE SPACE STOREFRONT
MAPLE RIDGE 1560 sq. ft. Lougheed Highway
Downtown space. Retail or office, with parking behind and in front
LEASE OR INVESTMENT PROPERTY/OUTSTANDING EXPOSURE
xLocated on busy main route
xLots of on site parking
xCan be shared by 3 users ranging
from 1,500 to 6,500 sq. ft.
www.davidkearney.com
[email protected]
RAY YENKANA CCIM, ABR
1-800-668-8661
604-942-0606
[email protected]
www.rayyenkana.com
Toll Free: 1-888-942-0606
(listing details)
YOUR WEST COAST B&B EXPERT. WHETHER YOU ARE A SEASONED INN KEEPER OR
ASPIRING B&B OWNER WE CAN HELP YOU GET GOING IN THIS EXCITING BUSINESS.
xLocated on busiest road in
xWell maintained 5,446 sq. ft.
Chilliwack - High visibility
xIdeal location for virtually any
customer oriented business
xProperty consists of 2 titles
building with HVAC, showroom
and 6 automotive bays
xFormer Auto/RV Retail Sales/Service
SALE $2,950,000 OR LEASE $12,000/MONTH TN
xPlenty of onsite parking
xOn main access route to down
SALE $425,000 OR
FOR SALE
CHILLIWACK
LEASEIN
$7.50/sq.
ft. TN
PREMIUM INVESTMENT OPPORTUNITY
xLarge single tenant retail building
xCurrently occupied on a long term
basis by name brand tenant
Liquidation World
xLocated
on eastern Hillsides
near Falls Golf Course
xCity Services Nearby
18.94 ACRES
$1,400,000
INVESTMENT PROPERTY
SALE $187,900
xCompletely Renovated
xIn Harrison Hot Springs
x1,057 sf strata property
xFully leased - 7% CAP
xAveda Hair Salon
PETER BIRRELL 1-800-665-1455
RE/MAX CREST REALTY
PRIME COMMERCIAL LAND - HIGH EXPOSURE LOCATION
Wow what a site. First time offered, this prime 8.2 acre property is proposed commercial. High profile
location on 200th Street at the 401 highway. Few blocks away from new park and ride/transit exchange.
Adjacent to green belt. Gateway to Langley. Fabulous mountain views. Very rare opportunity. Last high
profile piece available. Phone now. $15,700,000
RARE OPPORTUNITY BUSINESS PARK / COMMERCIAL
x8,940 sq. ft. building
xCompletely renovated
xPrice below appraised
value
SALE $789,000
xCourt ordered sale
xLight
xIdeal
Industrial/Commercial
for Automotive, woodwork,
Machine Shop, Warehouse,
Distribution
SALE $695,000
FORECLOSURE PROPERTY
xIdeal opportunity for live/work
xRestaurant building in need of repair
situation
xDirect exposure to Trans Canada HWY
xProperty is .60 acres
xZoned C2 (Highway Commercial)
xModular home with 2 bedrooms xUpgrade and repair to build equity
Vernon B.C.
or Contact
Access to Highway 1
Valley Views
xOutstanding
FORECLOSURE PROPERTY
x2,843 sq. ft. 4 Bedroom Home
xGreat living space
xZoned CD14 - Outside Storage
HARBOUR LIGHTS B&B well established lake view B&B $895,000
www.bedandbreakfastforsale.net
xEasy
1 ACRE INDUSTRIAL LIVE/WORK PROPERTIES
OCEAN WILDERNESS INN –
Almost 5 acres very private setting spectacular secluded beach $1,490,000
For information on these and other exciting B&B and Inn Listings check out
xLocated on busy main road
xWell maintained 56,927 sq. ft. bldg
xFuture development potential
xClean Environmental Review 2010
SALE $2,995,000
PRIME RESIDENTIAL DEVELOPMENT LAND OPPORTUNITY
COOPERS COVE GUEST HOUSEStunning oceanfront B&B operated by award winning chef, $1,300,000
Kitimat, B.C
room, reception and more
x6,169 sq. ft. space
SALE $425,000 OR LEASE $7.50/SQ. FT. TN
Sooke, B.C.
FABULOUS MONEY MAKER, built by Alcan for high end housing $799,900
xIncludes: sales, office, board
town
RE/MAX LITTLE OAK REALTY
RE/MAX SABRE REALTY
service area
PROFESSIONAL OFFICE SPACE
Financials and Lease info available.
DAVID KEARNEY CCIM
Offices and City Fire Department
xIdeal for office, or office with
+/- 2 ACRES OF PREMIUM RETAIL/DISPLAY SPACE
*Seeing is believing! Ready made
Restaurant, up to “Franchisor”
standards. Newly Renovated Urban
Fare Dining, in Abbotsford. Active
Biz for Sale in prime location.
Some vendor financing may be
available to qualified purchaser.
bluestone.IsNowOffered.com
xAcross from new FV Regional
SALE $1,050,000 OR LEASE $10 to $12/SQ. FT TN
Prime ¾ acre and commercial
building on 176th and Highway
1. Opportunity for development,
commercial or church. High
visibility! MLS# F3000454
$2340.00 / month – 3 year lease
102-2748 Lougheed Hwy.,
Port Coquitlam, B.C.
Tel: (604) 942-0606
Fax: (604) 942-9533
FOR SALE OR LEASE IN CHILLIWACK
www.wildrose.canbyours.com
BUSINESS OPPORTUNITY
RE/MAX SABRE
REALTY GROUP
SALE $249,900
FOR LEASE IN CHILLIWACK
PROF./MEDICAL/OFFICE
RETAIL SPACE
xNear Regional Centre
xStorefront Exposure
x1,086 - 1,800 sq. ft. on 1st and
2nd floor
xOnsite Parking
Lease from $15 to $22/sq. ft. TN
xNew Tenant Incentive, 3 Months
x45555
Hodgins Ave. Chilliwack, BC
972 to 1,972 sq. ft. @ $12.00/sq. ft. TN
x106-9300 Nowell St. Chilliwack, BC
1,091 sq. ft. @ $12.00/sq. ft. TN
xA-9123 Mary St. Chilliwack, BC
1,524 sq. ft. @ $14.00/sq. ft. TN
WAREHOUSE SPACE
Rent Free with new 5 Year Lease
xRetail - 2,060 sq. ft.
xExcellent exposure
xOnsite parking & signage
Lease $12/sq. ft. TN
xOn high traffic corner
x4 spaces to choose from
x806 to 1,900 sq. ft.
xWell maintained building
xIdeal location for your business
Lease from $6.50 to $15/ sq. ft. TN
xB-45911
Airport Rd. Chilliwack, BC
1,374 sq. ft. @ $7.50/sq. ft. TN
x8375 Noble Rd. Chilliwack, BC
2,690 sq. ft. @ $7.50/sq. ft. TN
x44915 Yale Rd. Chilliwack, BC
2,020 sq. ft. @ $11.00/sq. ft. TN
BARE LAND
3 Lots on Logan Dr. Chilliwack, BC
.91 acres-1.41 acres $2,150 to $3,300/mo
This rare 2.34 acre property has tremendous opportunity. Right across from new park and ride/transit
exchange. First time offered. Beautiful custom home to live in or rent while developing. This property may
be purchased with neighbouring property for a total of 4.69 acres. Fantastic opportunity. $2,246,400
Bob Plowright RE/MAX Bob Plowright Realty CHILLIWACK, BC
ANNE WILSON 604 533-3491
1-800-830-7175 - 604-858-7179 [email protected]
www.bobplowright.com
RE/MAX TREELAND
LOOKING FOR A TRADE
1.14 Acres on Hwy 97 Peachland. Current zoning is highway commercial.
Property just across road from lake. Would like to trade for something
in Fraser Valley of similar value. $995,000 Million. Call for pkg.
Garth Olson or Glenn Duff
RE/MAX TREELAND REALTY
604-533-3491 T/F 1-888-707-3577
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
LANGLEY
1.75 Acres Zoned C2 commercial complete with
beautifully maintained 4300 sq ft office building.
Full range of uses allowed for retail goods &
services. Large paved parking lot plus approx.
1 acre of fenced compound. Strategically located
for any Fraser Valley based enterprise. Excellent
opportunity for investors or expanding business.
Offered @ 1,980,000
CALL ROY MUFFORD
604-533-3491
