Western Investor June 2011 Section A

15 POP GOES THE RETAILERS“Ghost” stores haunt competing storefrontsLuke Harrison, retail man-ager at the mixed-use Rize in East Vancouver: rotating “pop-up” space offered free

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$4.29 JUNE 2011 Vol . 26 / Issue 6VANCOUVER • LOWER MAINLAND • VANCOUVER ISLAND SECTION

9 HOTELS START TO SELLB.C. leads national sales uptick after 2-year slide

13 YUPPIES MEET CAMPING Younger RV owners roll for Wi-Fi hook-ups, high-end amenities and strata-sale campsites

Build on the Power of Our Network. Over 350 Offices Worldwide.

Commercial Real Estate Services, Worldwide.

www.naicommercial.ca

MERRITT, BC OPPORTUNITIES

MINI STORAGE ON 1 ACRE PARCEL

$1.475 Mil

HOT PRICE

Asking $699,000

SPLIT ZONING

Asking $2.95 Mil

3 LIGHT INDUSTRIAL LOTSAmazing price $69,900 ea.

11.4 ACRES DEV. LAND ADJACENT TO WAL-MART

$3.39 Mil

FOR LEASE 8,459 SQ. FT. SHOWROOM & W/H $5.50 s.f. plus $2.50 s.f. T.N.

INVESTMENT PROPERTIES FOR SALE LANGLEY AREA

$2,475,000

INDUSTRIAL FREESTANDING BUILDING

Basic rate starts at $7.50 sq ft net

LANGLEY - FOR LEASE VACANT EX-SPORTS COMPLEX

DON MACDONALD, CCIM OR TODD BOHN 604-534-7974 or 1-800-890-9855 [email protected]

CHRIS LANGHAUG 604-534-7974 or 1-800-890-9855 [email protected]

KEN KIERS OR KEN HICK

ALFRED LEUNG CHRIS LANGHAUG

604-534-7974

KEN KIERS or KEN HICK [email protected]

604-534-7974MICK MATHEUSIK, M.Sc. 604-691-6656 [email protected]

TERRY HARDING 604-683-7535JACKSON TANG

INDUSTRIAL LAND – AGASSIZ11 acres – 3 titles (Can be purchased separately)M-2 Heavy Industrial5 acres pavedAsking $3,299,000

POTENTIAL DEVELOPMENT2.7 acres, LangleyBordering major developmentYorkson OCPAsking $2,565,000

42-SUITE PORT MOODY APARTMENT BUILDING

QUALITY RESORT HOTEL IN KAMLOOPS AREA, B.C.

$6M

LOOKING FOR HOTELS/MOTELS IN LOWER MAINLAND

COURT ORDERED SALE ABBOTSFORD FREE STANDING BUILDING

$550,000

JUST LISTED 2.11 ACRES BROOKSWOOD / FERNRIDGE OCP

Asking $1.299 Mil Bring Offers

Asking $2.59 Mil

CAMPBELL HEIGHTS

www.naiapartments.ca604 683 7535

PUBLICATIONS MAIL AGREEMENT 40069240

RETURN UNDELIVERABLE CANADIAN ADDRESSES TO CIRCULATION DEPARTMENT:

102 EAST 4TH AVENUE, VANCOUVER, B.C. V5T 1G2

R E C R E A T I O N A L R E A L E S T A T ER E CR E CE C R E AR E AR E A T I OT I OI N A LN A LN A L R ER ER E A LA LA L E S TE S TE S T A T EA T EA T EHOT PROPERTIESSPECIAL SECTION • B13

INVEST IN WASHINGTON STATEApartment buildings - Self-storage facilities - Mobile Home Parks

Good cap rates - Some seller financing

Call Mike, your Washington buyer’s advocate, 1-360-366-3357or visit me at my Ferndale office to discuss opportunities.

A2 Lower Mainland www.westerninvestor.com JUNE 2011 WESTERN INVESTOR

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, it is not g uaranteed by Cushman & Wakefield. Kevin Meikle is licensed with K.H.M.Realty Ltd. and has a contractual relationship with Cushm an & Wakefield Ltd. Bart Corbett is licensed with BG Corbett Realty Advisors Ltd. and has a contractual relationship with Cushman & Wakefield Ltd.

Sean Ungemach is licensed with SBU Realty Advisors Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. Martin Delafontaine is licensed with Martin Delafontaine Realty Inc. and has a contractual relationship with Cushman & Wakefield Ltd. Craig Haziza is licensed with CAH Realty Inc. and has a contractual relationship with Cushman & Wakefield Ltd.

Moving with confidence

Cushman & Wakefield Ltd. Suite 700 - 700 West Georgia StreetP.O. Box 10023, Pacific CentreVancouver, BC V7Y 1A1

T: 604.683.3111www.cushmanwakefield.comwww.vancouverlisting.ca

449 E. HASTINGS STREET, VANCOUVER

KYLE WILSON*CRAIG HAZIZA

FOR SALE - KELOWNA STORAGE PARK

CHRIS J. NEWTON

6629 KINGSWAY, BURNABY

*CRAIG HAZIZAKYLE WILSON

MULTIFAMILY DEVELOPMENT SITE

BILL RANDALL*NOAH FREEDMAN

*PERSONAL REAL ESTATE CORP.

PEMBERTON MULTIFAMILY SITES

BILL RANDALLPERSONAL REAL ESTATE CORP.

FOR SALEMERRITT JUNCTION

DEVELOPMENT OPPORTUNITY

±

MARK GALLAGHER

FOR SALE - 9948 100TH STREET, FORT ST JOHN


MIKE HARDY

SOLD - WILLOWBROOK BUSINESS PARK

DEVELOPMENT OPPORTUNITY

MARK GALLAGHER

RETAIL SHOPPING CENTRE - INVESTMENT OPPORTUNITY

HUDGE PARMARPERSONAL REAL ESTATE CORP.

RETAIL INVESTMENT OPPORTUNITY


GROCERY ANCHORED SHOPPING CENTRE

*CRAIG HAZIZA

ADAM FRIZZELL

HIGH VISIBILILTY INVESTMENT OPPORTUNITY

BILL RANDALL*RICK EASTMAN*


MARK GALLAGHER


COURT ORDERED SALE

FOR SALE - 2.7 ACRES OF INDUSTRIAL LAND

*SEAN UNGEMACHMICHAEL THOMPSON

PERSONAL REAL ESTATE CORP.

FOR SALE: BRAND NEW STRATA BUILDING

BILL RANDALL / DON DUNCAN CHRIS DRIVER


BRETT AURA

FOR SALE - SALT SPRING ISLAND RESORT


DEVELOPMENT OPPORTUNITY WITH INCOME

SENIORS HOUSING OPPORTUNITY

MARK GALLAGHER

200,000 SF INDUSTRIAL FACILITY, RICHMOND

LOT 6, SMITH CREEK ROAD, WEST KELOWNA

CHRIS J. NEWTONMATTHEW MACLEAN

12180 BRIDGEPORT ROAD

WILLIAM N. HOBBSPERSONAL REAL ESTATE CORP.

FOR SALE4 ACRE MULTIFAMILY DEVELOPMENT SITE

BILL RANDALLPERSONAL REAL ESTATE CORP. ERIC WALKER

FOR SALE-3 FULLY LEASED INDUSTRIAL BUILDING

PORTFOLIO

BRETT AURA DON DUNCAN


FOR SALE37 ROOM MOTEL

MARK TREPP* BOE IRAVANI


FOR SALE/LEASEBACK INVESTMANT OPPORTUNITY

RICK EASTMANPERSONAL REAL ESTATE CORP.

RARE FREESTANDING 5 UNIT INDUSTRIAL BUILDING

MATTHEW MACLEAN BRETT AURA

FOR SALE - WATERFRONT RESTAURANT, PUB & LODGE

CRAIG BALLANTYNEBILL RANDALL



SILVER CHALICE PUBHOPE, BC

FOR SALE - WILLOW CALE ROAD, PRINCE GEORGE, BC

DON DUNCAN / CHRIS DRIVER / PERSONAL REAL ESTATE CORP.

BRETT AURA

FOR SALE - 15 LEGAL SUITE S. GRANVILLE APARTMENT

HIGH VISIBILITY INVESTMENT OPPORTUNITY

RICK EASTMANPERSONAL REAL ESTATE CORP.


*CRAIG HAZIZABOE IRAVANI

FOR SALEHIGH EXPOSURE

BART VANSTAALDUINENPERSONAL REAL ESTATE CORP.

7.1 % RETURN

ERIC WALKER

WILLIAM N. HOBBSPERSONAL REAL ESTATE CORP.

RANDY SWANT *SEAN UNGEMACH*


RECEIVERSHIP SALE BELOW ASSESSED VALUE

SOLD

*RICK EASTMAN KEVIN VOLZ


Ron Bennett (USN Ret.) / Owner - Broker 1-360-671-9440 www.RonBennett.comRON BENNETT COMMERCIAL REAL ESTATE

LOCATED NEAR WISER LAKEIdeal location South of Lynden for this Commercial/Residential mixed use site on State Highway #539. Fits in very good for this

19 unit Condo/Strata Title use on second level above retail space. Great view of Mt. Baker. Excellent price for this site at $899,000.

JUST LISTED!Vacant restaurant for sale in Bellingham.

High traffic on I-5 off ramp at a traffic signal. Located near shopping center and

Western Washington University. Call for details.For more information, call our office.

FOR SALE

✓ ✓VALUE FOR $ GOOD RETURN ✓ TENANT COVENANT ✓ UPSIDE ✓ CAREFREE

CALL Don MunroSUTTON GROUP

WEST COAST REALTY

604-817-7338 [email protected]

COMMERCIAL / INDUSTRIAL ACREAGESCHILLIWACK

51140 Ruddock Road s

7640 Nixon Road s

700 Columbia Valley Road

SURREY

188th Street and 80th Avenue

LANGLEY203-20771 Langley Bypass

27031 Fraser Highway

CHILLIWACK

44580 Yale Rd W. FOR LEASE

7730 OLD ORCHARD ROAD

SURREY

11151 Bolivar Rd. & 13340 112 Ave

19518 32nd Avenue

LANGLEY

24421 Fraser Highway

27691 Downes Road

889 Lefeuvre Road

LANGLEY

26880 24th Avenue

48th Avenue & 216th Street

27449 60th Avenue

27465 60th Avenue

27571 60th Avenue

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

FEATURES15 Short-term tenants compete with lease-laden neighbours

9 Western Canada leads the nation as investors check in

13 Demand strata sites, Wi-Fi, higher-end amenities

23 $400 million project could spin off billions of dollars

25 Return of big-scale mining drives real estate values higher

COLUMNS6 20 27

On the coverLuke Harrisson, retail manager at the Rize in East Vancouver: pop-up retail space offered for free Photo: Richard Lam

2–21

8 22

22–27

HOT PROPERTIES


HOTELS, APARTMENT BUILDINGS and SITES inVANCOUVER, VICTORIA, NANAIMO and SQUAMISH!

• Port Moody apartment building. Completely rebuilt: new plumbing, fl ooring, wiring, roof, cabinets, windows, etc. 32 huge suites (6 x 1bed, 22 x 2bed, and 3 x 3bed). Excellent building, good location, fully leased with good fi nancing. 5.5% cap rate, $385,000 net. Price $6,550,000.

• Island, Waterfront Hotel and Marina. Quality in a great Location.• Nanaimo, Waterfront Hotel, marina and condo site. $6,500,000. An

existing income property plus 2 great development opportunities.• Squamish Hotel: 25 rooms + guest suite, pub, night club, café & retail.

Upgraded. Makes good money! $2,588,000; $600,000 down + terms!• Squamish, Condo Site: 30 units, downtown. $1,450,000 + terms and/or

possible joint venture available. Permit ready and fees paid.• North Vancouver, Apartment buildings: package of 3 x 12 suites, and 11

huge suites (2/3 bedroom) $2,300,000 Central Lonsdale area.• North Vancouver, holding properties: (4 large SF lots with leased houses)

for rezoning next to high density high rise developments, new Capilano Community Center and Retail Village/Town Center.

• West Vancouver, British Properties. 2 large adjoining view lots with 3 lot subdivision possibilities, or join with neighbours for more!

PAUL MURPHY (604) 986 1586email: [email protected] WESTCOAST REALTY

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

www.UNIQUEPROPERTIES.ca

UNIQUE PROPERTIES

“We are focused on achieving the results YOU want.”

CATERING BUSINESS & COMMISSARY KITCHEN

The building may be leased or purchasedThis turnkey operation will appeal to chefs, caterers, schools and restaurateurs. Call LARRY 604-787-7654

FOR SALE

FOR LEASE LUZON 1622 SQ FT CORNER SPACE 12th & Arbutus Call SANDI FRATINO OR KRIS POPE 604-689-8226

PRIME WESTSIDE INVESTMENT OPPORTUNITY

2094 West 43rd Avenue at East Blvd.

Kerrisdale, one of Vancouver’s oldest and most affl uent neighbourhoods.

2 strata units 1,311 sq ft. Asking $910,000

3 strata units 3656 sq ft. Asking $2,500,000

May be purchased together - 5 strata units Great 5 year lease in place $3,388,000 Call SANDI FRATINO 778-999-0005 OR REID DEWSON 604-732-9944

81,260 sq.ft. R&D

Dexter Associates Realty Commercial Real Estate, Your Trusted Advisors

BUILDING AT UBC3800 Wesbrook Mall provides an ex-cellent environment that will support and enhance the intellectual and social development goals of companies involved in R&D. Laboratories, offi ces, teaching, training, and conference facilities, in sup-port of research and development in a number of key areas. $10,500,000

Call LARRY 604-787-7654

1521 WEST 4TH AVECorner lot of 5,650 sq ft.

Cash business included $2,619,000Call SANDI FRATINO 778-999-0005

WESTERN INVESTOR JUNE 2011 www.westerninvestor.com Lower Mainland A5

INDUSTRIAL LAND FOR SALE

1028 Eburne Place, Richmond0.583 acre corner site in Mitchell Island

Extensive frontage along Eburne Way and Eburne Place

Casey Bell, Anthony Lux

Tel: (604) 684 7117 Sign up for e-mail newsletters at www.dtzvancouver.com

For more information and other available listingsplease contact our offi ce or visit our new website

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 verifi cation. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 06/2011.

INDUSTRIAL SALE/LEASE

1171 - 11871 Horseshoe Way, Richmond2,665 sq ft high quality warehouse/office unit

with dock level loadingRiverside Industrial Park

Casey Bell

INDUSTRIAL SALE/LEASE

Firm de

al in

place

6010 Trapp Road, Burnaby61,995 sq ft on 4.4 acres

Steve Caldwell, Chris McIntyre

RETAIL LEASE

5550 Fraser Street, Vancouver

On-site and off-site parking available

Clare Stevens

LOT FOR SALE

1186 Granville Street, Vancouver3,000 sq ft development site

Parking income

James Bayley, Meghan Kennedy

WAREHOUSE/OFFICE FOR SALE

42 West 8th Avenue, Vancouver8,531 sq ft three storey freestanding building

Owner/user opportunity with income

Ryan Saunders, Mitch Ellis

INDUSTRIAL SALE

4090 Graveley, Burnaby2,738 sq ft building on 10,245 sq ft lot

Gilmore Avenue exposureAmple parking

Steve Caldwell

INDUSTRIAL SALE

117 - 42 Fawcett Road, Coquitlam2,770 sq ft office/warehouse

One 12’ x 14’ drive-in loading door

Steve Caldwell

INDUSTRIAL SALE

140 Glacier Street, CoquitlamRare high quality 23,100 sq ft facility on 1 acre

Chris McIntyre, Steve Caldwell

RETAIL SALE

1632 West 4th Avenue, Vancouver+/–1,990 sq ft retail building

25’ frontage on West 4th

James Bayley, Tom Bakker, Meghan Kennedy

STRATA RETAIL SALE

1738 West 2nd Avenue, Vancouver1,068 sq ft ground floor retail space

Conor Finucane, Howard Malchy

INDUSTRIAL SALE

2133 - 21320 Westminster Highway, Richmond

Approx 19 ft clear ceiling height

Casey Bell, Anthony Lux

604.263.2823

APARTMENT BUILDING SPECIALIST

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

37 Unit Apartment Building3 Penthouses, large decksGross Income $296,456

NEW WESTMINSTER

51 Units – Prime locationNear beach, shopping, amenities

Gross Income $637,158

WEST END

26 Units – Queens ParkPenthouse, views, updatesGross Income $263,720

NEW WESTMINSTER

75 Unit Apartment BuildingClose to Skaha Lake, Central location

Gross Income $547,222

PENTICTON

9 residential – 2 commercialGross Income $92,988

Cap Rate 6.5%

LANGLEY

33 Units – Central locationTenant base is seniorsPotential Cap Rate 7%

COURTENAY


KARIM ALI MERALI 1-250-566-0072 or Toll Free 1-888-830-7888 Cell: 604-657-3448 Email: [email protected]

$4,888,888 REDUCED TO $3.98 Million

$13 Million $10 Million$8.2 Million $1.9 Million

$700,000$10.5 Million $5 Million

NEW WORLD REALTY

MOTELS VALEMOUNT / JASPER AREA B.C.

RoaronConstruction“Your One Stop Shop”

Call Now 604-888-7818or Email [email protected]

104 ACRES STRATEGIC LOCATION in

the triangle Vancouver / Seattle / Victoria

Several titles, further development possible.

Price $ 7,500,000Call owners at

250-382-8559 or email

arbutusbay@gulfi slands.com

LAND BANKING - INVESTMENT OPPORTUNITYSouthern Gulf Islands • OCEANFRONT & OCEAN VIEW LANDS

Apartment Building727 4 Ave New Westminster

$1.35 Million

ERIC FUNG Amex - Fraseridge Realty

604 657 6448

Established investment company seeking

to acquire properties in major BC and

Alberta markets.

WE BUY:

- Strata titled multi-family and commercial buildings

- Bulk condominium units including "fractured stratas"

- Vacant buildings

- Office and light industrial

- Unsold developer inventory

- Multi-family and commercial foreclosures

- Assets with deferred maintenance

Quick, straight forward closing.

Contact: Joelle Wendt, CFA

Upcountry Properties Group

T: 604.987.1230

F: 604.987.1238

www.upcountrygroup.com

[email protected]

Publisher Cheryl Carter Editor Frank O’Brien Con-

tributing Writers Curt Cherewayko, Dave Husdal, Geoff Kirbyson, Glen Korstrom, Baila Lazarus, Joel McKay, Peter Mitham, Kevan O’Brien Copy Editor Noa Glouberman Production Manager Rob Benac Production Natalie Reynolds, David Tong, Tanya Van Advertising Sales Manager Christine Campbell Advertising Sales Paul Douglas, Gary Takahashi Advertising Sales Coordinator Angela Foster Accounts Receivable Yvonne Posch Circulation Veera Irani, Newsstands Globe Distribution Services Printed in Canada at Kodiak. Western Investor is published monthly by BIV Media Limited Partnership VANCOUVER – HEAD OFFICE: 102 East 4th Avenue, Vancouver, B.C. V5T 1G2 Subscriptions and Advertising Sales Tel: 604-669-8500 Fax: 604-669-2154 Canada/U.S. toll-free: 1-800-661-6988 Alberta, Saskatchewan & Manitoba Advertising Sales toll-free: 1-888-606-6267. 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.

he $400 million Northwest Transmission Line that is to run more than 300 kilome-tres north from Terrace B.C. will mean more than jobs and

economic opportunity: it will bring electric power to villages and native reserves that have to rely on costly and polluting diesel generators. It means easier development of hospitals, schools and other northern ser-vices that can strive to meet modern standards. And it will also spark, literally, billions of dollars of mining development that could launch the northwest into the first tier of economic performance.

But the power line, perhaps the best news for northern B.C. in decades, could now be stalled or even stopped because of a protest from local native bands.

The small (900-member) Gitanyow native band and the Lax Kw’alaams bands say they will not support the BC Hydro line that must cross their territory. The former claims the dispute is over territorial integ-rity; the latter says it is because of a desire for long-term economic opportunities.

We believe the stance of the local natives in regard to the power line are naïve and selfish.

It will likely come down to money for

a select few. BC Hydro has offered a cash deal, plus training and employment for local natives. We don’t know how much money was offered but it was hyperbolically dis-missed as “beads” by a Gitanyow spokes-person.

The beads comment, of course, refers to trading more than 100 years ago, a time we doubt that many modern natives would glad-ly return to. If the power line were stopped,

however, it would stunt the northern B.C. economy for years.

Northern natives are in a precarious position, not whol-

ly of their fault. Failures by government to ratify agreements decades ago now force the bands to fight hard, and often alone, against any and all concessions.

Aside from the power line, there is also the $5 billion Enbridge Inc. pipeline, which a number of northern native bands are against, fearing (and perhaps rightfully so) both pipeline breaks and oil tanker traffic in the treacherous and shallow Hecate Strait.

There is also the potential explosion of new mines as metal prices hit record high prices. All of this means unprecedented economic opportunities for natives and non-natives alike. But there will also be a price to pay.

It is not easy for native leaders, but it is coming down to crunch time. Northern resources are now on the radar of not only the United States but also China, Japan and other Asian nations. Canada shouldn’t and likely won’t stop the pipeline or the mine expan-sions. The B.C. government and many north-erners see the Northwest Transmission Line as vital infrastructure that must go ahead.

Natives, therefore, are being forced to decide between traditional beliefs and mod-ern realities. Between protecting what they have and the possibility of a more prosperous future for their children. Apparently, it is not an easy decision.

Western Investor presents our annual look at waterfront real estate. We tee up for les-sons on buying a golf course, report on the future of forestry towns post the pine beetle and provide reasons why investors should be looking at mobile home parks. Our regional reporters file from Kelowna, Red Deer and Churchill Falls. Plus, we deliver the news and commentary needed by western investors.

FRANK O’BRIENEDITOR

[email protected]

ADVERTISING DEADLINE JULY 2011 issue:

June 13, 2010


For more information visit our website www.avisonyoung.comVancouver Offi ce 604 6877331

FOR SALE – Development Site 1636 Island Highway, Victoria

FOR SALE – Dalton Hotel - 759 Yates Street, Victoria

UNDER

CONTRACT

FOR SALE – 9771 186 Street, Surrey

FOR SALE 10816 – 10840 124th Street, Surrey

FOR SALE - 1915 Stainsbury, Vancouver

FOR SALE - 2342 Windsor Street, Abbotsford

FOR LEASE – 2111 Main St, Cherry Lane Shopping Centre, Penticton

FOR LEASE – 320 Terminal Avenue, Vancouver

FOR SALE/LEASE – 1455-1475 East Georgia Street, Vancouver

FEATURED LISTING

40% LEASED

FOR SALE – 8740 Greenall Avenue, Burnaby

FOR SALE – 5705 North Island Highway, Campbell River

I

FOR SALE – 6891 Macpherson Avenue, Burnaby

FOR SALE – Lynn Valley Village

SOLD – 6780 No. 3 Road, Richmond

FOR SALE – 20800 Westminster Highway, RichmondFOR SALE – #1 3180 262 Street, Langley

FOR SALE – Royal Towers, 140 - 6th Street, New Westminster

FOR SALE - 820 Kitselas Road, Terrace

FOR SALE – 9055 Centaurus Circle, Burnaby

UNDER CONTRACT - 12941 115 Avenue, Surrey

UNDER

CONTRACT

FOR SALE - Forest Hill Plaza - 8318-120th Street, Surrey

FOR SALE 105 Brunswick St. & 110 Victoria St., Prince George

SINGLE TENANT IN

VESTMENTFOR SALE – 12294 104th Avenue, Surrey

SOLD

UNDER

CONTRACT

A8 Lower Mainland/Services www.westerninvestor.com JUNE 2011 WESTERN INVESTOR

RARE FIND!

Private Islands

View BCPRIVATEISLANDS.COM

WARK REALTY INC. 604.946.8710 [email protected]

An exciting, unspoiled, exclusive private island retreat of 85 acres, with towering mature trees and many sheltered bays.

A beautiful custom designed 3300 sq ft home, 2 log cabins, workshop, dock and gardens.

A 10 acre zoning, allowing for further development. (More homes? A resort?)

A great private or group purchase or company retreat! Price: $5,750,000

Powell River Investment OPPORTUNITIES

Excellent Income Property in down-town Powell River. Ocean view building with retail & residential income plus large, potential pay-per-use parking lot adjacent to ferry terminal. $429,900

Ideal Commercial Building Sitewith fantastic ocean view! Paved 33’ x 86’ lot on busy Marine Avenue among downtown restaurants, retail and service outlets. $109,900

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

Magnificent Waterfront Acreage245 acres west sloping land approx. 2700’ wa-terfront; incredible panoramic views; in ALR

$3,100,000

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

Ideal Agri-Business Opportunity102 acres fairly level land; many possibilities; easy access; in ALR $569,900

Great Investment Property 30 acre wooded parcel zoned M3 Industrial; easy ac-cess; services available $349,000

Aroma's Gourmet Coffee & LunchWell established; steady clientele. Leased space on active business complex; Across from Airport. Financials available. $54,900

Downtown Ocean View Buildingon main street, ready to go as a restaurant on main floor plus unfinished lower level & de-tached building with long-term tenant; paved parking lot; fronts 2 streets. $399,900

Your Dollar Store with More Clean, bright, well-organized floor plan in 6000 sqft lease space. Great exposure in a high trafficarea. Good mix of surrounding businesses in this shopping/service complex. $179,900

Franchise Opportunity

Matthew Moadebi604-329-6771 (Cell)[email protected]

www.matthewmoadebi.com www.vancouverfranchise.ca

Blenz Master Franchise in Vancouver, Vancouver Island, Ontario & Alberta Blenz Franchises ............................. $179K - $488,800Steamrollers Franchise Opportunity , Vancouver .................................................................. $319K (Davie St.)Wired Monk Individual Franchise Opportunity. Wired Monk ..................$135K, $169K, SOLD-$159KWired Monk New Franchises - Vancouver ................................ $262K-$350K depending on locationSandwich Tree master franchise opportunity $275KLe Bistro Chez Michel .........................................$214,900Crepes and Gelato ...................................................$97,600

INVESTOR ALERTLotto 649, Turn 4.9 mill to 12.5 + mill, 18 lot subdivi-sion zone SR-1 zoned for 1 acre in Langley BC, New sewer line is only a couple block away, this property is fl at, gravel based, 10,000 sq ft building has poten-tial income, only asking $4.9 Mil, email for details. 31 acres blueberry farm with 8 bed rm house 15 year old plant, last year crop was over 250,000.00 only 3.2 mill.

Great investment 16.44 acres blueberry farm with 7200 sq ft new house made for 2 family only 2.5 mill.

5 acres out of ALR with over 8547 sq ft house and 2nd house have B & B potential income from 2nd property over $4500.0 per/ M, asking $3.9 mill.

AMARJIT GILL

604-614-7101 Global Force Realty

MORTGAGE FINANCING

For all your real estate fi nancing needs

www.peoplestrust.com

Daniel Stewart 403-205-8202

PRAIRIEREGION

PRAIRIEREGION

Dennis K. Aitken 403-205-8203

BRITISH COLUMBIA REGION

BRITISH COLUMBIA REGION

Brian D. Kennedy 604-331-2211

Jonathan P. Wong 604-331-2218

COMMERCIALMORTGAGES

ALSO, Industrial, Multi-Residential & Construction

LEAKY CONDOFINANCING

Full Building Repairs, Upgrades & Remediation

BUSINESS LOANSAcquisitions, Expansion, Equipment & A/R

604-552-4392www.paramountfinancial.biz

Over 12 YEARS in business !

FOR ALL TYPES OF COMMERCIAL PROPERTY:

The Origin Group — Mike Lee

604-565-63701-877-848-6370

[email protected]

SELL1-800-661-6988

Selling your business? Western Investor Business Opportunity pages

are organized geographically so read-ers can find the opportunity they want.

WESTERN INVESTOR JUNE 2011 www.westerninvestor.com A9FEATURE Western Canada hotel sales leading the nation and motel owners hope to share in the upturn

Please see Listings page A10

FRANK O’BRIEN

WESTERN INVESTOR

fter two years that hotel owners and analysts describe using words like “disaster” and “massacre” the

hospitality industry in Western Canada is leading the nation, with British Columbia setting the pace.

While the recovery is primarily in large flagged hotels, the scores of mom-and-pop motel owners across the west are also seeing signs that incomes and equity could also be ris-ing, despite an apparent glut of property listed on the market.

How bad was it? In 2009 only one hotel sold in all of B.C. Last year 10 big hotels sold and this year is shaping up to be better that, according to Betsy MacDonald of North Vancouver-based HVS International. “This year is starting off bullishly as hotel listings appear to have generated substantial inter-est from within Canada as well as the U.S.,” MacDonald noted.

Colliers International, consid-ered the leading source for hotel industry research, reports that, nationally, hotel sales volumes last year were running 72 per cent ahead of 2009, despite sales rising by just 12 properties.

In other words, hotels are selling for more. The average deal was $8.2 million last year, up from $5.6 million in 2009, which Colliers calls “a cyclical low.” The typical per-key room price (or “key” price) nationally was $83,000, up 26.7 per cent from 2009. At the last peak of the market in 2006, the typical per-key price was $164,000, to give an idea of how much ground the market has yet to recover.

It is Western Canada that is the current star per-

former. The rising activity was most pronounced in B.C., accounting for 50 per cent of the sales across the west, which had doubled from a year earlier. B.C. also posted the highest sale price per room in the country, at $131,000 per key, with Alberta far back in second place at $94,000 per key.

The average price paid for a hotel last year in Western Canada was $9.8 million, 18 per cent higher than the national average.

As a comparison, only one hotel sold east of Quebec last year and the average price per key east of the Manitoba border was $74,000,

While most hotel investors have been lured to Vancouver and its Olympic legacy, MacDonald said Alberta could be poised as a hotel leader in 2011.

She points to two recent sales this year: the Marriott Courtyard in Edmonton that sold for

$26 million ($147,000 per key) and a flagged hotel in Fort McMurray that fetched an eye-popping $203,700 per room in a March trans-action, as signals of a trend.

Higher prices for oil, rather than tourists, are the reason for the Alberta optimism.

In both Edmonton and Calgary, it is weekday traffic not weekend visitors that dominate room rentals, she noted.

MacDonald also likes Vancouver, though she said that the record-setting occupancy levels

through the Olympics make the market seemstronger than it is. She added that Disney Cruise Lines made Vancouver its home port for Alaska cruises this year, which is expected to boost hotel occupancy by as much as 33,000 overnight visits. Disney, however, will reduce Vancouver visits to just two in 2012.

B.C. set the national record for room prices last year, when a buyer paid $373,000 per key for the 51-unit Nita Lake Lodge at Whistler. The Pacific Palisades Hotel and the HiltonVancouver Metrotown Hotel were the big-gest sales in the province, at $46.9 million and $44 million, respectively.

Colliers expects more hotels to be put on the market this year, in Western Canada and across the country, as long-patient owners try to catch the price lift. “Transaction volume should increase 20 per cent to 25 per cent from 2010 levels,” Colliers stated.

Hotel buyers continue to be characterized by private investors, who bought nearly three-quarters of all the hotels sold in Canada last year. Hotel investment companies bought just

eight hotels, or 9 per cent of the market.However, across Canada, an estimated 12

per cent of hotel sales in 2010 were distressedsales forced by lenders “who had no choicebut to liquidate their position on troubled hotelloans.”

Real estate investment trusts abandoned hotel acquisitions five years ago and did not buy a single hotel last year in Canada. Colliers,however, expects REITS to come back to thetable as larger assets and portfolios are listedthis year and into 2012.

It is getting easier to finance hotels, with eli-gible buyers able to borrow at rates of from 4per cent to 7 per cent over the past few months.Colliers notes that lenders are focusing on cashflow, not real estate, and buyers can expect deeper due diligence from the banks. Most lenders, however, still shy away from hotel construction loans, preferring to loan forexisting properties. Buyers can also expect to

(TOP) This 29-unit hotel in Radium Hot Springs is listed by

Syber Realty for just over $1 mil-lion ($34,000 per room). (RIGHT)

This Marriott hotel in Edmonton recently sold for $26 million

($147,000 per room). Phot

o: H

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nati

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Phot

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The average price for a hotel last year in Western Canada was $9.8 million, 18 per cent higher than the national average.

DISTRESSED ARIZONA OPPORTUNITIESBELL ROAD - PHOENIX±4,042 SF SHELLOFFICE CONDO - HOSPITAL 1 MI.LENDER OWNED

VERONA MPC - COOLIDGE±340 ACRES - 593 LOTSLENDER OWNEDMAKE OFFER

ARROWHEAD MALL - PEORIA±3.88 ACRESZONED COMMERCIAL PADLENDER OWNED

31 RESIDENTIAL FINISHED LOTSLAKESIDE, AZELK SPRINGSREO - $495,000

SUN VALLEY PKWY - BUCKEYE±5 ACRESCOMMERCIAL OVERLAYPARKWAY FRONTAGE

SCOTTSDALE AIRPARKOFFICE / HANGAR±5,422 SFNOW PLACED UNDER $1M

16TH STREET - PHOENIX±11,431 SFOFFICE/INDUSTRIAL FACILITYLENDER OWNED

ELESIO FELIX - PHOENIX±10.8 ACRESZONED A-1LENDER OWNED

BUCKEYE RETAIL - TOLLESON±5,000 SF BUILDING±1.3 ACRE FENCED YARDZONED C-3 / COUNTY ISLAND

TIERRA GRANDE ESTATES - CASA GRANDEZONED CR-5 MULTI-FAMILY±46 ACRES - CONCEPTUAL PLANMAKE OFFER

PHOENIX OFFICEBRAND NEW REMODEL±8,433 SF - 21+ OFFICESLENDER OWNER - MAKE OFFER

RETAIL - PHOENIXGRAND AVENUE FRONTAGE±1,630 SFREO - $145,000

70 ACRES - CAVE CREEKESTATE / RANCHCITY VIEWS - HIGH END HOMESREO - MAKE OFFER

TONOPAH 78±78 ACRES - HARD CORNERCLOSE TO I-10 @ 411TH AVE OFFRAMPBEST PROPERTY IN AREA

STEARMAN - CHANDLERNEW INDUSTRIAL FACILITYCHANDLER AIRPARKLENDER OWNED

TS

2141 East Broadway Road, Suite 111Tempe, Arizona 85282

www.thebenjamingroup.com

KENT D. BAKER(480) 968-3033 Direct

(602) 316-8136 [email protected]

Bell Rd

75th Ave

Sun V

alle

y Pkw

y

I-10

411th Ave

The information contained herein was obtained from sources deemed reliable; however, Seller or its agent shall not be held responsible for errors or omissions. Subject to prior sale or withdrawal. Exclusively listed by The Benjamin Group, LLC.


FED GOV TENANT (DFO)

5,240 sq. ft. 0.35 AcreFree StandingConcrete Block

Good Van lsl. Location

Asking:$749,000 (7.6% CAP)

(250) 287-2200COURTESY TO BROKERS

FOR SALE

Are you the type of person who is community-minded, knows the value of excellent customer service, and enjoys interaction with other people? Then, we would like to offer you a turnkey package, complete with proven operating system, full training, and on-going support. You’ll meet the nicest people as you operate your business “hands-on”. We have been in operation since 1980 and have over 460 stores across Canada.

If having a business of your own with the support of a successful franchise is of interest to you, please call Bonnie Armstrong at the Western Regional Office for more information 1-800-661-7682 (ext 270) or visit our website at www.franchise.mmmeatshops.com

UNIQUE FRANCHISING OPPORTUNITIES In Western Canada

• Must see to appreciate! • Approx. 4,500 sq.ft.- Capacity: 192• Newly re-modelled• New large commercial kitchen• Licensed off-sale cold beer & wine• Selling $300,000• Lease to be negotiated• Turn-key operation

GASTOWN - VANCOUVER

Call

Vancouver Nightclub $399,000

Fraser Valley Nightclub $399,000

NIGHTCLUBS FOR SALE

Matt McGILL604-562-7782

[email protected]

Call or email for details!

HomeLife Benchmark Langley

LORNE CHERNOCHAN 604-880-0550 (cell) [email protected]

CALL OR EMAIL FOR A FULL INFO. SET

WESTCOAST

[email protected]

COMMERCIAL LEASE SPACEWEST RICHMOND 3,500 sq ft of

Street Side StorefrontExceptional Parking and Exposure

RETAIL or RESTAURANT or OFFICES or SERVICES

On a busy street across from major shopping PLUS near to park and high

school AND in a dense residential area. $28 psf 3xN.

INDUSTRIAL STRATA UNIT 2,555 sq ft FOR LEASE

NORTH RICHMONDLarge ground level corner unit with

1,055 sf of office/showroom + 1,500 sf of warehouse in newer building with good

corporate image. Grade load, 22’ ceilings, good parking. I-3 zoning. LOW LEASE

RATE OF $10 PSF!!

MAJOR PRICE REDUCTION to $675,000

INDUSTRIAL STRATA FOR SALE NORTH RICHMOND

3716 sf 4 year old unit = 2,850 sf warehouse with BOTH grade + loading (with leveler); + main floor showroom + 2nd floor offices with separate entrance,

kitchen, + w/c. Tenanted until August 1ST, 2011.

INDUSTRIAL STRATA UNIT 1465 sq ft SOUTH RICHMOND – RIVERSIDE

FOR LEASE1,465 sq ft ground floor unit with a large

showroom + furnished private office; and a smaller warehouse behind with a mix of high and lower ceilings. Fully AC and offering 3 phase power and multiple line phone system. Perfect for sales office. Vacant.

from 9see a compression of capi-talization rates as prices and sales improve. Cap rates are generally in the 8 per cent to 9 per cent range, or about 3 per cent below the bottom of the market two years ago.

It is not scientific, but judging from listings in Western Investor and anecdotal evidence, there are more motels listed for sale this spring across Western Canada. A quick scan of this paper will turn up at least three-dozen listings, including some being sold under court order.

It appears that many vendors are tired of waiting for the upturn and decided, or were forced, to sell at the same time. For investors confident of a recovery, there are deals to be had, according to realtors close to the motel market.

“It was gift [to the buyer],” said Larry Berisoff of Kelowna-based Syber Realty Ltd. talking about the recent sale of a 28-unit motel in New Denver, B.C., for $695,000, or less than $25,000 per room. Berisoff has sold seven hotels in the first three months of this year, and has another eight listed, from Houston to the Okanagan.

Berisoff said that listings and sales are rising this year, but the profile of the buyers hasn’t

changed – they are almost invariably individual investors. “The first question they ask is aboutcash flow,” he said. Aside from the “ma and pa”buyers, Berisoff said he has also been talkingto one group of young investors trying to puttogether a small portfolio of properties.

He addded that some motel owners count on blue-collar traffic, such as construction work-ers, to fill rooms, rather than tourists. But, headded, “when the construction work stops, so do the tenants.” It is safer, therefore, to buy inareas with stable tourism.

It is not uncommon for small hotels in B.C. or Alberta to post cap rates in the 9 per cent to12 per cent range, he said, which makes them attractive for retirement income or for a pureinvestment.

As for financing, Berisoff said lenders aresticking to a minimum of 40 per cent down payments, though some motel sellers are will-ing to take part of that in vendor takeback. Hisbiggest challenge, he said, is convincing ven-dors that it is no longer 2007 and they have toprice their motel to today’s market values.◆

Area REVPAR Occupancy rate

Vancouver $102.75 67.7 per centB.C. $88.04 61.0 per centAlberta $81.11 58.4 per centManitoba $72.66 65.2 per centSaskatchewan $81.45 68.3 per cent

*For 2010. Source: Smith Travel Research/HVS International

C A L L T O D AY F O R V I E W I N G

ADRIAN GAGNER 604-466-5077 or 604-826-5733

MISSION 38.31 Acres – 1,319' x 1,265' Not in Agricultural Land Reserve

$3,000,000

Call the

marketing your franchise?

1-800-661-6988

(604) 669-8500

westerninvestor.com


NEED SHOP / THIS IS IT ----M1 Zoned approx 4400 sqft building on 8000 sq ft lot on Alexander St in Chilliwack. Retail unit of approx 1150 sq ft with Shop of approx 2000 sqft. Also includes an apartment upstairs, THIS IS A GREAT PROPERTY FOR MECHANIC OR SOMEONE WHO NEEDS SHOP WITH RETAIL SPACE, VERY CLOSE TO MCDONALDS. $699,000

INVESTOR ALERT! FULLY LEASED 6 yr old 12,566 sqft Industrial Building in Excellent location on 31279 sqft Corner Lot Excellent tenants, room to expand with 2nd floor in existing building, storage yard in the back. Asking $2,100,000. DON'T MISS THIS GREAT PRICE!!

LINDSEY GAUTHIER phone: (1) 604 798 2977 CHILLIWACK email: LGAUTHIER @SUTTON.COM

160 SEAT RESTAURANT, approx 4 yrs old—Going Concern in busy Shopping Center with Safeway, Liquor store, Blockbuster, HSBC, Envision Bank,,, This Restaurant is gorgeous, 5605 leasable area Includes all chattels, over 800,000 in tenant improvements, if you are looking for a restaurant this has EXCELLENT VALUE. Good client base, assets sale only, you would never be able to build this restaurant for anywhere near this price, $269,000

REDUCED Prime High-Rise Development Property in Abbotsford1.3 acres located just steps away from Mill Lake and Seven Oaks Mall.

Contact 604-308-1475E-mail [email protected] $4.5 million

Maple Ridge 81 Unit Condo Site

Just listed: Total of 4 properties at 4th Reading,

Plans Available, Prime location, 2.4 million

Offers Welcome!

Call Ken Cowie 604-351-5611

Mike Sidhu 604-831-2500

Distribution Warehouse

Chilliwack Apartment TO BE BUILT in central Sardis. 60 Units similar to photo with full underground parking garage. Great investment opportunity. $10.5 million turn-key delivery in 2012.

Corney Les 604-795-6938

RE/MAX Corney Les Realty www.morechilliwackrealestate.com

Located at Duke Point near Nanaimo this 35000 sq. ft. warehouse is ideally situated for distribution of goods to Island locations. Just 5 years old this building has 22 ft. ceilings, fi ve loading bays, 1800 sq. ft. of offi ce space as well as a 3 bedroom caretaker suite. Now available for sale at $4.3 million or for lease at $9 NNN.

OFFICE STRATA UNITS

1050 PACIFIC ST (Main Office Entrance) Unique opportunity to own a dual use strata consisting of a 613 sf office with street entrance + a 870 sf 2 bdrm suite above. 2nd entrance 2J – 1033 Marina side. $1,049,000

2132 ALBERTA (Near 6th & Cambie) 2357 sf 2 level C1 Zoned building. Rebuilt 10 yrs ago. Lower level is vacant, 2nd level is a private 2 bed, 2 bath residence. Bonus: 1200 sf 3rd fl roof deck. $1,690,900

COMMERCIAL DEVELOPMENT SITE - LANGLEY

21427 83rd AVE near 216 St. proposed interchange in Willoughby Heights in Lan-gley. 1.51 acres for sale (65,000 sq ft) + Properties on either side may also be avail-able (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 Com-mercial once interchange finished in 2013 (strip mall, hotel?) $1,999,000

11880 – 11920 96A AVE4 lots with 275 ft frontage & 36,000 sf of land, zoned single family. Most proper-ties currently rented. Great holding prop-erty! Go to web for info package and area video. $1,921,000

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

YALETOWN DOG BOUTIQUE

1146 PACIFIC BLVD The Dog & Hydrant, Speciality Dog Pet Products, located on a busy street in the heart of Yaletown. 800 sq/ft of space with average sales of $15,000/month. Leased at $4,300/mo (all in). Po-tential to expand to dog grooming at this location – Call for more info. $125,000

To view listings please visit:

www.6717000.com/biz

1428 W 7th Ave., Vancouver, B.C.

Crest Realty (Westside)

NORTH SURREY LAND ASSEMBLY LILLOOET LAND FOR SALE - 17 ACRES

1.5 HRS NORTH OF WHISTLER

LES TWAROG(604)671-7000

JUN 2011

Terry A Young 604-970-38081-800-665-1455

[email protected] RE/MAX Crest Realty

Each office is independently owned and operated.

Each office is independently owned and operated.

Campbell RiverDevelopment Site

3.14 Acres with 397 feet Water Front ZonedCommercial Four (C-4) with 180 degrees ofviews of Georgia Straight.

The site: 1430 South Island Highway is approved for 74 units’ quarter share Resort Spa with the building permit in place.

Call Jerry Raczkowski for more details604-602-1111

RE/MAX Crest Westsidewww.VancouverInvestor.ca

JerryRaczkowski780-932-2121

Crest Realty (Westside)

Residential Private & Second Mortgages

AJIT HUNDAL, AMP Telephone: 604-614-6899Toll Free: 1-866-614-6899


Commercial Real Estate Services, Worldwide.

www.naicommercial.ca

ELIZABETH WOZNICZKO604-691-6648 [email protected]

Committed to Canada. Connected to the World.

GARY HAUKELAND OR J.D. MURRAY604-683-7535

BILL HAMILTON 604-524-3641, [email protected]

NEW WEST WAREHOUSE

BUSINESSES FOR SALE

www.naibusinesses.ca

PETER SEED CHRIS WIESER 604-691-6608 604-691-6662

ALF SANDERSON DELON CHEUNG 604-691-6646

alf@naicommercial .ca604-691-6654

delon@naicommercial .ca

COQUITLAM OFFICE NEW WEST OFFICE

BURNABY OFFICE/RETAIL COURT ORDERED SALES397 Acre Development Site, Sechelt BC

Price: $22,250,000

459.1 Acre Development Site, Cranbrook BC

Price: $22,300,000

3,070 sq. ft. Retail Commercial Development, Pemberton BC

Price: $2,300,000

2,620 sq. ft. Medical Office Building, Vancouver BC

Price: $1,100,000

165 Acre Development Site, Abbotsford BC

Price Reduced: $9,900,000

INDUSTRIAL & DEVELOPMENT SITES12,000 sq. ft. Strata Office/Warehouse, Richmond BC

Price: $1,695,000

MECHANICAL SHOP (North Vancouver)

........................................................................................................$98,000

BLUEBERRY FARM (Abbotsford)

.................................$1.98mil

JEWELERY STORE (Vancouver) ............................................................... $280,000 + Inv.

CURRENCY EXCHANGE (Surrey)

..........................................................................................................................$120,000

RESIDENTIAL INVESTMENT (Vancouver)

........................................................................................................................ ...$1.088M

COMMERCIAL / RESIDENTIAL PROPERTY (Gibsons)

.................................................................................. $438,000

EURO DELI (Coquiltam) .......................................................Assets $173,000 plus Inv.

PARK VILLAGE & PINE GLEN – 251 SUITES

Asking $11,000,000

PRINCE GEORGE, BC – FOR SALE

SOLD

1245 20th Ave + 2050 Norwood St.

PRINCE GEORGE, BC – FOR SALE

Asking $11,750,000

KELOWNA, BC – FOR SALE

[email protected] [email protected]

INDUSTRIAL – FOR LEASE

OWNER MOTIVATED !

KEN KIERS 604-514-6830 TF: [email protected]

2 PRINCE GEORGE APTS – FOR SALE

1698 JUNIPER ST (12 UNITS)Asking $610,000

1840 SPRUCE ST (16 UNITS)Asking $749,900

CONSTRUCTION RELATED (Fraser Valley) NEW LISTINGSpecialized business within construction industry for 30 years. Over $1.6m in sales. Easy to operate ....... $850,000

UNIQUE HOME IMPROVEMENT BUSINESS (Fraser Valley) NEW LISTINGManufacturer of custom designed sunrooms and patios sold directly to commercial and residential users ........................................................... $390,000 inc equip

AWARD WINNING MILLWORK BUSINESS (Lower Mainland)Major clients in Canada and USA. Revenue in excess of $4.5m......................................................$2.0m inc equip

VANCOUVER DINNER CRUISE BUSINESSIn business for over 15 years operating two yachts from Downtown Vancouver. Nets $310,000 ... $2.5m inc yachts

OKANAGAN CATTLE RANCH (nr Keremeos) . 212.62 acres, 3 homes, 4 barns, equip shop. Grazing license for 592 AUM. Vendor financing available .................................... $1.95m

STRUCTURAL STEEL FABRICATING UNDER OFFER Over 15 years in business in construction industry. Revenue forecast over $1m .............................. $590,000 inc equip

METAL FABRICATING COMPANY (Burnaby). Well established business with strong earnings history and healthy margins ....................................... $1.8m inc equip

MEAT & DELI BUSINESS (Okanagan) 12 years in business. $1m in sales annually for 4 yrs. Well equipped. Good lease in place............... $550,000 plus inv

HAIR & BEAUTY SALON (Lower Mainland). Very successful full service beauty salon in trendy area. Sales over $460,000. 10 staff. No rentals ................................... $258,000 + inv

INDUSTRIAL PROPERTY INVESTMENT (Delta) 44,366 sq.ft industrial facility in Tilbury. 1.62 Acres. Fully leased. 6.8% Cap rate .................................... $4,390,000

RICK LUI 604-644-6182 [email protected]

RICHMOND$11 Million $5 Million

$2.8 Million$4.5 Million

VANCOUVER$7.8 Million

$5 Million

FULLY LEASED LANGLEY INVESTMENT BUILDING CAP RATE 6.1% on. ASKING $3,295,000

TED WEIBELZAHL 604-514-6825 or 1-800-890-9855 [email protected]

Kamloops 42 Suite Apartment Bd

Kamloops 34 Suite Apartment Bd

Kamloops Mobile Home Park

Asking $1,800,000Ace Self Storage Kamloops

Asking $1,700,000

MICHAEL MARCKWORT 604-691-6638

[email protected]

LEASED

2160 Sq. Ft. COMMERCIAL STRATA UNITNEW CONSTRUCTION ASKING

SUB LEASE OPPORTUNITY 8176 SQ. FT SHOWROOM SPACE ASKING

TOWN HOUSE DEVELOPMENT SITE – ZONED, APPROVED, READY FOR DEVELOPMENT PERMIT $695,000

DENTAL CLINIC FOR LEASE 1448 SQ. FT. ASKING

MEDICAL CLINIC FOR LEASE2203 SQ. FT.

SOLD

1698 JUNIPER ST

WESTERN INVESTOR JUNE 2011 www.westerninvestor.com A13

WWW.YOONYO.COM

Your Oriental Connection !

Sutton Premier Realty

YOUNG YOON, B.A. AND TEAMCEL: 604-808-5024 EMAIL: [email protected]

ASHERN MANITOBA, $650,000 PLUS STOCK OF APPROX. $120,000Including building and business, asset sale. Super Store affiliated Ashern Shopeasy, 6000 Sq. ft. full service supermarket including meat, produce, sales $120,000/m before tax net of approx. $14,000/m couple works and four employees, no living quarters. Open since Jan 15/2010. Mon-Sat 830am to 7 pm and sun/holidays 11am to 5pm

PORT KELLS 2 2ACRE PARCEL BOTH PROPOSED 15-25/ACRE MED/HIGH DENSITY. 1.69 mil 17006 96 Ave bare land MLS f1029082 1.49 mil 17072 96th Ave 2400sq hse w/large ware house MLS f1029083

S O U T H S U R R E Y 1 . 5 9 M 1.2 Acre. 24th Ave., Granview Heights. NCP 4 - 15 UPA near Walmart.

$538 ,800 SURREY WHALLYHOUSE 1 Owner. 3bdrm + den, plus 3 1bdrm suite potential gross $3000+ or owner occupy 3bdrm with excellent mortgage helper10660 142nd St. Close to SFU Surrey Campus

SUCCESSFUL BAKERY COFFEE SHOPDo w n town w i th exce l l en t i nc omeAsking $499,000Over $400 mil sold over 12 years. FVREB Commercial member Medallion 2006,2007, & 2008 Sutton Masters AwardsRetail or income properties, motels, RV parkWANTED ( out of town OK ) HAVE BUYERS

Please view a virtual tour @

www.Difrancesco.Ca

3861 Kingsway

Leonardo DiFrancesco/Rav RampuriSutton-Centre Realty

(604) 435-9477Lifetime Members of M.L.S.

(Medallion Club)

Development OpportunityApproved Seniors Care Facility / Church

FOR SALE

inding through the close-packed sites of the Nk’Mip Campground and RV Park

last summer, all the hallmarks of the lazy summers of yore were there: the campers, the tarps, the kids, the adults chatting in slack-backed camp chairs and around picnic tables, often with laptops and iPads glowing.

But a few years ago, a tide of resort devel-opment was transforming the time-honoured vacation spots of the Okanagan, gobbling up tired campgrounds for swank new resorts. Upscale accommodation was what the area needed to support the growing flow of wine tourists: campgrounds were for losers.

But when economic fortunes reversed in late 2008 and projects began shutting down – or like the Copper Sky development on the former Mariner’s Reef campground site in Westbank, going into receivership – the remaining camp-grounds were sitting pretty.

A new cost-conscious vacationer was look-ing for cheaper accommodation, while retro-minded Millennials showed up at the spots of their youth with their own kids. This year, Nk’Mip is opening 74 new spots and investing $70,000 on new infrastructure to accommodate demand for wireless services.

“When I first started we had 1,200 sites in Osoyoos, now we’re down to 660. And we have 326 of them at Nk’Mip,” said Chris Bower,the campground’s general manager

Retrenchment among consumers has helped boost demand.

Camping typically increases during down-turns, and the knock-on effect of higher gas prices has augmented the upswing. People are sticking closer to home to save on fuel costs.

“A lot of times when there’s economic tough times, camping does increase. People still want

to go on vacation, and it’s a little less to go to an RV park as opposed to a hotel room,” he said, noting that rates at Nk’Mip may be above the provincial average but are still affordable at $25 to $48 a night during the high season, or up to $60 if there are extra campers.

Higher gas prices mean des t ina t ion campgrounds like those around Osoyoos see particular demand because visitors will tend to stay put. Moreover, the fancy RV rigs that private operators like Nk’Mip are seeing are larger and better equipped than in the past.

“There’s still a need for more three-, four-star RV parks in B.C.,” Bower said. “And that can be tough for some people to try and redevelop, with the cost of fixing your sites and making them bigger. It’s not easy to do.”

Nk’Mip had long-term rentals for 84 sites this past winter, part of an ongoing demand for its larger, full-service pads. And the past three years have seen a significant increase in the technology campers are bringing. “It’s unreal. It’s not if someone’s brought a computer, it’s how many devices,” he said.

But if destinations like Nk’Mip are enjoying renewed popularity among cash-conscious vacations, many campgrounds still face pres-sure.

Bower, who headed the BC Lodging and Campgrounds Association (BCLCA) when it pressed the province to halt the loss of RV sites during the real estate boom of the mid-

FEATURE B.C. campgrounds fluff up with Wi-Fi, strata lots and amenities to attract new breed of RV owners

PETER MITHAM

WESTERN INVESTOR

This 11-acre campsite and RV park near Prince Rupert is listed for $11 million through LandQuest Realty. The number of camp-ground sites in B.C. has fallen about 15 per cent since 2005.

Phot

o: L

andQ

uest

Rea

lty

Corp

.

2000s, acknowledges that the industry faces headwinds as it rebalances itself following the loss of between 10 per cent and 15 per cent of its sites over the past decade. Where once there were approximately 30,000 private camp-sites, now there are now approximately 26,000 sites.

Joss Penny, the association’s executive dir-ector, said there has been a slight increase in new camp site development since the associa-tion urged Victoria to take action in late 2007, but the additions have been modest.

While a growing number of agri-tourism operators have taken advantage of provisions that allow up to 10 camp sites apiece on farm-land (a common step in Kelowna and Lake Country where revenue from camping sup-plements flagging orchard revenues), Penny pointed to major projects, such as Rosedale-based Holiday Trails Resorts (Western) Inc. is pursuing at its 90-acre Sunshine Valley property close to Hope, as positive signs for the industry.

Penny also pointed to the upgrade of the Sea-to-Sky Highway between Vancouver and Whistler as a factor facilitating improvements.

The campground at Porteau Cove ProvincialPark south of Squamish received electrical hook-ups, while Whistler RV Park and Campgrounds opened last year with 102 sitesfor RVs and 44 tent sites. Riverside RV Resortand Campground also expanded, highlighting the optimism that an improved highway and exposure during the 2010 Winter Olympicswill draw in campers.

Penny, however, said campground operatorsface challenges from south of the border. Ratesare competitive at U.S. campgrounds, and the exchange rate makes them that much more so.

“With the dollar being $1.05 and the differ-ential in the gas price, there’s a lot of pressure to go south as opposed to going east or north,” hesaid. “The buying power is that much more.”

Still, shifting exchange rates are nothingnew.

Stan Duckworth, who operates FortLangley Camping at Metro Vancouver’s BraeIsland Regional Park in Fort Langley and is vice-chair responsible for campgrounds with theBCLCA, said exchange rates have largely pre-vented U.S. travellers from venturing north.

The good news is the large population ofMetro Vancouver has delivered a steady stream of people looking for getaways close to home,while the high cost of establishing new camp-grounds in attractive sites in the densely popu-lated Lower Mainland has also helped keep local operators strong.

There is also a strata trend developing, whereindivdual RV and camping sites are sold ratherthan rented. Re/Max of Nanaimo is offering 26 RV lots at Sproat Lake near Port Alberni for$169,000 each; and, in the northern Cariboo, alakefront RV camp site at Witch Lake goes for$88,500 and includes boat moorage and pri-vate docks, according to LandQuest RealtyCorp.

A limited supply of sites and strong demandfrom a new generation brings up other challen-ges, though. Most B.C. campground operatorsare older than 50 years. But operators face a significant tax hit if they wish to pass a busi-ness on to family, while those most keen to pur-chase are often developers with an interest in the future redevelopment of the sites.◆

Your specialist in PRIME income-generating and redevelopment opportunities:

www.danpreston.caPersonal Real Estate Corporation

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COVER “Ghost” stores haunt Vancouver merchants but proponents say fast outlets a wave of the future

Please see Creatives page A16

SUSAN M. BOYCE

WESTERN INVESTOR

pring’s far from the only thing that’s a-poppin’ in Vancouver. A long-standing regular in major urban cen-

tres south of the 49th parallel, pop-up retail is steadily making its presence felt in Canada.

An alternative form of sticks and brick retail, pop-up is a simple concept – at least on the surface. Landlords turn the liability of a temporarily empty warehouse or shop into a short-term moneymaker by renting to vendors staging fast-paced, strictly time – limited sales events.

Occupancy ranges from a single day to sev-eral months and is often linked to seasonal events such as Christmas and Halloween. Pop in, pop up, pop out. Landlords make money, retailers make money, consumers gain access to great prices and unusual product. Pop-up can also be an effective method to liquidate over-stocked and outdated merchandise or bank-ruptcy inventory.

However, like most simple concepts, there’s a flip side to this phenomenon – one that many industry watchers and insiders don’t like. Annette O’Shea, executive direc-tor of the Yaletown Business Improvement Association, describes pop-ups as “ghost retailers” comparable to any other fly-by-night operation and stresses it’s the epitome of buyer beware because once a pop-up has popped out, there’s no way to return a faulty or unwanted product. She refuses to patronize any pop-up outlet.

“Pop-up retailers also have no incentive to care about a neighbourhood’s reputation,” O’Shea said, adding that even during the hype of the 2010 Olympic Games, Yaletown imposed a minimum 30-day lease on vendors who applied for pop-up locations. “For us, the consistency of the Yaletown brand is extremely

important – by definition, pop-up is not con-sistent.”

Details of lease rates appear sketchy at best. The most common phrase landlords use to evade answering the cost question is that “every case is different.” Most leasing agents refuse to talk about pop-up retail at all, say-ing it’s a direct negotiation between retailer and landlord. Matt Thomas of Avison Young Commercial Real Estate sums up what many other leasing agents only imply. “There’s no incentive for an agent to negoti-ate [a pop-up deal], because it’s time consum-ing and we don’t make a commission. Sure I’ll do it as a favour for a friend or to help out a landlord I’ve worked with for a long time, but it’s not something that makes financial sense for a leasing agent,” Thomas said.

Thomas adds that while pop-up may help cover the costs of a vacant property, there are risks involved. “Temporary tenants are often very hard on a property. Plus it could mean turning down a high-quality tenant who wants to take possession immediately.”

Still, for its advocates, pop-up can be the best of all worlds. Deb Nichol, who is the owner of The Latest Scoop, made the move to a pop-up model in 2004 after almost 20 years of working in retail. “In traditional retail, some months you make a lot, some months you make a little, and others you make nothing. I decided to keep just the ‘happy’ months,” she explained.

But beneath her conversational, outwardly breezy attitude lies a sophisticated and meticu-lously honed system that she describes as “a well-oiled machine.” Nichol personally selects the ever-changing inventory from what she believes to be the best suppliers and brands in each category represented – suppliers who often include Nordstrom’s, Holt Renfrew or other high-end outlets – and then puts an eye-catching discount on the price tag.

The Latest Scoop’s selection is dazzling in its diversity – for good reason.

“In a conventional dress shop, you might be walking in and out without ever touching a thing because all you see are dresses,” she explained. “Here, you’ll find evening gowns next to sporting gear, patio furniture next to handbags and jewelry. It’s a cool mix of great values, so it entices my customers – some-thing far too many large retailers have stopped doing.”

Clearly, the strategy is paying off. Nichol’s stores are alive with activity, and while she declines to give specific numbers, she does comment that her volume is “enviable. I turn over 20 to 30 per cent of my stock each week, and in the 11 weeks I had my last store open on West Fourth Avenue, I probably sold the equiv-alent of what many other local stores sell in a year.” At the end of her lease, she held a four-hour sale exclusively for previous customers.

When she vacated the 3,000-square-foot

premises, she had only 12 boxes of stock to package up.

Pop-up stores have been a force in U.S. retail for some time, and it is not only mom-and-popretailers trying to cash in. Discount giant Tiger, which recently beganan aggressive push into Canada, has been sprouting pop-up outlets in New York City fornearly five years. These include a temporary beachwear-exclusive shop in Manhattan last year, and a Times Square outlet that sold onlydiscount air conditioners. Likewise, JC Penny opened a 2,500-square-foot store for only weeks in New York’s Rockefeller Centre that sold home deco ritems. The company also opened fashion pop-up stores in Los Angeles this year. Other large retailers that have used pop-ups include VirginMobile and Nike, which report they normal-

Luke Harrison, retail manager for Rize’s pop-ups: rotating space is offered at $1 “for artisans and craftspeople who want to be part of this neighbourhood but don’t necessar-ily have the financial resources.”

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rd L

am

Bill SummersDirect line: 604-626-8894 Email: [email protected]

Other Mobile Home Parks coming up in Lower Mainland and Alberta on City services. Call to get on the wait list for information.

INVESTING IN MANUFACTURED HOME PARKS

PARKS FOR SALE AT PRESENT

COMMERCIAL BUILDING IN DEROCHE

Asking $295,000

A member of the MHP Owners Association. Call me for more details on these and other parks available.

11.66 ACRES Langley BCLucrative retail business will carry the mortgage while you enjoy country life & wait for development demands. Two good size homes plus 2400 sq. ft. of RU-9 retail business & buildings. Great location, super future opportunity, with excellent income from a very lucrative business. New Price!

Call Vic for info package and pictures.

Vic [email protected]

Macdonald Realty Olympic

63 UNITAPARTMENT

in Thunder Bay, ON - $2.25M14 UNIT

APARTMENTin Windsor, ON - $490,000

Photos and Details at:www.mshinvestments.com

Call Ralph: 807.623.2333

[email protected]

ARIZONA INDUSTRIAL PORTFOLIOFor Sale or Trade

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NNN Investment Opportunity!!!4 Industrial Properties Offered at: $6,000,000

PHOENIX, AZ

Income: $70,200Property Size: ±48,516 SFBuilding Size: ±5,015 SFLease Expiration: February 2015*Occupied by Fortune 500 Company!

PHOENIX, AZ

Income: $123,575Property Size: ±65,000 SFBuilding Size: ±8,150 SFLease Expiration: June 2018*Occupied by Fortune 500 Company!

For additional information contact: TOM HOPE (602) 725 - 4468 [email protected]

CASA GRANDE, AZ

Income: $78,000Property Size: ±1.978 acresBuilding Size: ±11,894SFLease Expiration: January 2013*Occupied by Local Organization!

TUCSON, AZ

Income: $84,577Property Size: ±74,000 SFBuilding Size: ±6,950 SFLease Expiration: December 2011*Occupied by Fortune 500 Company!


BARRY BOCK / DON KAYTORPhone 604-575-5262 Phone 604-576-9285

Fax (604) 575-2214 Email: [email protected] Website: www.barrybock.com

LIQUOR STORES, PUBS, HOTELS/MOTELS

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NEIGHBOURHOOD LIQUOR STORES - PUBS - HOTELS - RESTAURANTSIF WE DON’T HAVE IT LISTED WE WILL FIND IT FOR YOU!

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QUEENS HOTEL & LIQUOR STORE on 110,000 sq ft zoned Hi-Rise C-7 in the heart of Queensborough Super Development Site. 26 rooms. All totally redone. OFFERS!

NANAIMO ROAD HOUSE & LIQUOR STORE – $1,050,0002½ acres. Land & buildings. Asset sale. Includes 2 suites. PRICED TO SELL

MAPLE RIDGE PUB & LIQUOR STORE $4.2 MILLION, NETS OVER $700,000. WILL SELL SEPARATELY.

NEW WESTMINSTER PUB & LIQUOR STORE $2,950,000 (SHARE SALE)

CHILLIWACK – PUB & LIQUOR STORE & RESTAURANT excellent money maker REDUCED $2.4 Million. Great lease. SELLER MOTIVATED! TRY YOUR OFFER!

SURREY PUB & LIQUOR STORE – Money maker. $2,000,000. Hurry! SHARE SALE.

QUEENSBOROUGH DEVELOPMENT PROPERTY – Many options – cleared land, approx 34,000 sq ft – zoned commercial/residential. 3 PROPERTIES - OWNER MOTIVATED

BURNABY PUB & LIQUOR STORE –Business only. $2.5 Million

3 SURREY PUBS IN BUSY SHOPPING CENTRES - PRICED BELOW REPLACEMENT GREAT TERMS.

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MORE DETAILS CALL:

GAS STATION WITH LAND & BUILDING $2.8 MIL

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GAS STATION, C-STORE, LIQUOR STORE, PIZZA SHOP, 4 BDRM LIVING

ACCOMMODATION UPSTAIRS (BUSINESS ONLY)

PRICE: ONLY $219,000 OR BUSINESS W/LAND & BUILDING $1.85M

2 MORE GAS STATIONS WITH LAND AND BUILDING (LOWER FRASER VALLEY AND

UPPER FRASER VALLEY) $1.99 MIL EACH

FRASER VALLEY INDO CANADIAN GROCERY STORE and FRESH PRODUCE

$249,900 (BUSINESS ONLY)

INDO-CANADIAN GROCERY STORE, FRESH PRODUCE, VIDEO AND RESTAURANT (BUSINESS ONLY) FRASER VALLEY.

PRICE: $149,900

PAMMI MANDAIR CELL: 604-825-8121 OFFICE: 604-859-3141 [email protected]

www.mobileparks.comHomelife Glenayre Realty

Lac La Biche, AB – 58 pads, 157acres ..... 3,000,000Houston, BC – 113 pads, 22 acres ........... 1,400,000Hope, BC – 40 pads , 4.05 acres.............. 1,100,000Cherryville, BC – 25 pads, 22 acres .............. 750,000Houston, BC – 37 pads, 3.5 ac .................... 750,000Langenburg, SK – 60 pads, 14 ac ................. 525,000Houston, BC - MH & RV Park, 40 ac+/- ....... 399,000

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Homelife Glenayre Chilliwack Realty Ltd.

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11030 River Road, North Delta, B.C. SENIORS HOME BUILT IN 1998

$1,300,000

SHANNON KIGER 604 805-8350

FOR SALE ABBEYFIELD HOUSE

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[email protected]

Westview Town Houses

MAPLE RIDGE16 ACRES + LARGE HOME

$2,100,000

PORT COQUITLAM4 LOTS APPROVED FOR SUBDIVISON

$1,295,000

FLEETWOOD4 LARGE LOT SUBDIVISION

$1,499,000

monarkinvestments.caPlease visit our website or call for more details.

604-592-7250Financing Available. Potential Trades.

FOR SALE

LANGLEY46 PRIVATE ACRES (2 Titles)

$6,250,000

from A15ly use the outlets to test new brands before a national rollout.

Using pop-up retail as a living lab, a test ground for new products or new marketplaces, could become part of the shifting retail landscape.

“The potential to test a new marketplace while maximizing your advertising budget is huge,” said David Ian Gray, president of Dig 360º Consulting Ltd.

“But you need to be clear about what you want from doing this. For someone like Deb, it’s all about selling. On the other hand, if your main purpose is creat-ing brand awareness, then you should focus on the best, most innovative features about your products and your company.”

Craftspeople and other creatives love the opportunity pop-up creates to showcase their art without the financial and time restrictions of a long-term lease – but they have to make the grade for quality and originality.

Salima Karim, leasing co-ordinator at City Square Shopping Centre in Vancouver, says a crucial part of the selection process for short-term tenants is the ability “to provide shop-pers with something different than they ever expected to find in our mall.”

This spring, developer Rize Alliance tookthe concept one step further with Rize HousePop-Up Retail.

Located at West 10th Avenue and Kingsway in Vancouver, Rize House is part of the com-pany’s community outreach program. Each month, two pop-up retail spaces are made available to carefully screened local artisans at a cost of $1 for the month.

April saw Hamburger Disco, a tee-shirt company with an off-the-wall attitude andfunky, 1970s disco-themed product sharespace with Isabelle Dunlop’s limited-edition,

vintage-inspired fashion and jewelry. The combi-nation was, according toRize’s Luke Harrison,electric.

In May, lifestyle pub-lication Ion magazinetook over the low-costspace.

“Main Street has always been known for its innovative proprietors,” Harrison said. “This is an opportunity for artisans and craftspeoplewho want to be part of this neighbourhood butdon’t necessarily have the financial resourc-es.”

Still, he’s also pragmatic, noting the relation-ship is symbiotic because it brings traffic intothe Rize presentation centre.

Will pop-up become a trend? Most say no. But for trailblazers like Nichol, pop-up is awave of the future. And she’s firmly positionedherself to ride that wave to success.◆

Agents say there is no incentive to make a [pop-up] deal because there is no commission

www.homelifebc.comwww.homelifebc.com


$1 billion bid for TimberWest has some debating whether it’s a vote of confidence in coastal forestry or

Vancouver Island real estate.“I think it’s both,” said Paul McElligott,

president and CEO of the Vancouver-based timberland outfit. “There aren’t that many baskets of 800,000 acres of fee simple land available for growing trees and developing real estate.”

In April, British Columbia Investment Management Corp. and the Public Sector Investment Board, two of Canada’s largest pension funds, tendered a $1.03 billion cash offer to buy TimberWest.

If the bid goes through, Canada’s soldiers, sailors, police officers and some 440,000 resi-dents of B.C. will own the largest chunk of pri-vate forest lands in Western Canada.

That’s a key asset in a country where more than 90 per cent of all timberlands are Crown-owned, said McElligott.

The company owns 808,000 acres of private land on Vancouver Island, where it harvests logs and sells land through its Couverdon real estate arm.

TimberWest’s assets stretch from the south-ern tip of the island to Campbell River, butting up against several towns along the way.

Campbell River Mayor Charlie Cornfieldsaid the company owns some 7,000 acres of land in his city.

Campbell River is already working with Couverdon on a 65-acre development called Jubilee Heights.

That coupled with a $1.35 billion BC Hydro

project to upgrade the local dam will bring sig-nificant investment into Campbell River and increase the value of nearby land, Cornfield said.

TimberWest also owns swathes of land near Courtenay, Comox, Nanaimo, Ladysmith, Duncan, Lake Cowichan and Port Renfrew.

In order for some of those municipali-ties to develop, they need to buy land from TimberWest.

“We virtually surround … Ladysmith,” McElligott said.

But Vancouver Island’s real estate market needs to pick up for TimberWest’s land to pay off for investors.

According to the Canadian Mortgage and Housing Corp., housing starts in the Victoria region were down 34 per cent in March com-pared with the same month last year. Housing sales are down 7 per cent from a year ago.

Even TimberWest has conceded that its land is less valuable for real estate development than originally thought.

The company slashed the amount of land it believes has a high potential for development to 56,000 acres compared with the 134,000 acres it reported last year. That means only 7 per cent of TimberWest’s land base has a high potential for development.

And that’s why David Elstone believes the pension plans are banking on the coastal forestry sector. “I think they’re looking at TimberWest as a timber play as opposed to a real estate play,” said Elstone, an analyst with Equity Research Associates. “Not to say there isn’t components of it [for real estate], but you’d definitely be looking at that land based

FEATURE Billion-dollar Timberwest bid tied to forest recovery - and access to massive Island land holdings

JOEL MCKAY/BIV

WESTERN INVESTOR

TimberWest CEO Paul McElligot: forestry company owns 808,000 acres of private land.

Phot

o: D

omin

ic S

haef

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on the cash generation you get from growing and harvesting timber.”

TimberWest sold $217 million worth of logs last year while real estate sales totalled $14 mil-lion.

Meanwhile, three years after one of the worst cyclical downturns in the history of the forestry sector, the survivors are back in the black.

“The last two to three years have been really difficult, but I have to tell you there’s been a whole lot of positives that have come out of one of the worst recessions I’ve ever been in,” said Dominic Gammiero, chairman and CEO of Western Forest Products.

Late last year, the Duncan-based lumber pro-ducer climbed into positive territory for a fourth consecutive quarter, started its Ladysmith saw-mill and added 170 employees to bring its total employment to 1,606.

It’s a remarkable turnaround given the near-crushing blow the industry was dealt when the U.S. housing market collapsed a few years ago, effectively crippling Canada’s number 1 buyer.

Between 2007 and 2009, B.C.’s forest indus-try shed 32,200 jobs. Nearly four dozen mills

in B.C. were shuttered between 2007 and 2009,according the Forests Ministry.

Outgoing Canfor president and CEO JimShepard called it the “worst market conditionof a lifetime.”

The savior that came galloping to the rescuewas China.

With an emerging middle class and a popu-lation in excess of 1.3 billion, the Asian giant was on the hunt for natural resources to feed its red-hot economy. About the same time, Russia,one of the largest suppliers of logs to China,implemented an export tax on raw logs.

That caused the Chinese to look elsewhere for logs, notably B.C.

Meanwhile, the provincial government began organizing trade missions to Asia, rounding up executives from various companies to spreadthe word about B.C. wood products.

“It’s just really been a real success story forthe industry,” said Chris McIver, vice-pres-ident of lumber sales and corporate develop-ment at West Fraser Timber.

“Today, we are shipping to China the equiv-alent production of four of our sawmills, … hundreds and hundreds of our employees areworking today because of our sales success in China,” Shepard added.◆

TED STELLAKIS NAI COMMERCIAL

[email protected]

DOLLAR STORE FRANCHISE

(Mission/Abbotsford)

$358,000 + inv.

ASHOK KUMAR 604-855-0800 TF: 1-866-855-0800

INVESTMENT AND BUSINESS OPPORTUNITIESABBOTSFORD – MULTI-FAMILY SITE Approx 1.4 acres, approved for 100 unit apartment building ......$2,975,000

SURREY – ESSO GAS BAR / C-STORE with property .$2,600,000 Business only ..................................................................................$495,000

MAPLE RIDGE – 10 ACRE DEVELOPMENT SITE on Thora Hill. Not in ALR...............................................................$2,988,000

UPPER FRASER VALLEY – HUSKY GAS STATION / PROPANE/C-STORE 2 Bedroom suite plus rental income ..$1,850,000

SUCCESSFUL LAUNDROMAT BUSINESS Commercial & coin-operated machines plus dry cleaning. Servicing Whistler & Squamish. Own strata building. ..............................................................................................................$1,800,000

FRASER VALLEY JUGO JUICE Established franchise. Busy strip mall location. .......................... $198,000

PUB/LIQUOR STORE – BARRIERE, BC Renovated 25 unit motor inn with manager’s suite, restaurant, pub/liquor store. ...................$2,450,000

PORT COQUITLAM WAREHOUSE Net income approx. $148,470/year. Building 23,700 sqft. on 38,000 sq. ft. lot. Fully rented ............................................................................$2,150,000

INVESTMENT PROPERTY – LANGLEY, BC Approx 39,000 sq. ft. Currently used as auto repair. Plus 3 bdrm apartment. .............................................................................. $1,500,000

BOTTLE DEPOT – TRAIL BC Land, Building & Business. Encorp license, depot, electronics, paint care plus a 3 bdrm living accommodation. ................... $895,000

GREAT HOLDING PROPERTY Hold & operate a well established business in the Fraser Valley. 20 lane bowling alley, food & liquor licence, ample parking, recent updates and renovations. ......................$3,695,000

GAS STATION – ALDERGROVE, BC. Shell Gas Station, C-store, & propane .................Business Only $429,000

ESSO STATION – BARRIERE, BC Renovated Gas, C-store, propane, truck stop. Truck/car wash plus owner’s suite. .......................... $2,600,000

ESSO STATION – LANGLEY, BC GROUND FLR: Gas bar/ C-store, Post office. 2nd flr: 4 - 2 bdrm apts. Each unit self contained. .....................Land, Building & Business $2,850,000

HARRISON 1.23 ACRE LOT For potential residential subdivision or townhomes .................... $595,000

LOWER MAINLAND Established C-store/ produce & flowers. Daily sales $3800+. Rental income. .......................$2,000,000 with property or business only $498,000

ABBOTSFORD COFFEE Specialty coffee/café in a busy strip mall ..................................... $129,000

BOTTLE DEPOT - ENDERBY, BC Encorp license Bottle Depot. Business with property. ...............$445,000

KAMLOOPS BC Free standing building. Gas bar leased to 7-Eleven, 5 yrs + 2 -5 yr options. Net income to owner $84,960 per year. ................................. .$1,350,000

FRASER VALLEY GAS BAR 50% Share for sale in a high volume. Petro Canada gas station/ C-store + propane .................................................................. Business only $385,000

HOPE BC – UPA NAPA PARTS STORE Land & building .............................................$1,350,000 + inv. $600,000

ABBOTSFORD, BC PRIME CORNER Commercial Development Land. Approx 18,000 sq. ft. 3 rentals on property. ...................................................................................................$1,400,000

ALDERGROVE, BC FREE STANDING BUILDING Gas bar leased to 7-Eleven. Net Income $100,000 per yr. .........$1,900,000

ABBOTSFORD – PRIME 5 UNIT COMMERCIAL BLDG.South Fraser Way, 6568 sq ft, 4 solid tenants with 5 yr leases. 1vacant unit. Net income $89,088 escalating to $111,837/yr. .......................$2,100,000

SORRY, YOUR AD IS MISSING...SORRY, YOUR AD IS MISSING...

COMMERCIAL REAL ESTATE, FRANCHISES & BUSINESS OPPORTUNITIES IN WESTERN CANADA

For advertising information call 604-669-8500 or 1-800-661-6988

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• Prime corner, one block east of Cambie Street • 20,200 sq. ft. building on an 18,101 sq. ft. site • Owner/occupier potential along with income from solid tenancies • Asking $5,400,000

CONTACT: DAVE WATT | 604.714.4775| [email protected]

FOR SALE: LAND, BUILDING & BUSINESS IN KOOTENAYS, BC | ALI MOHSENI

• Well established appliance / furniture store in Kootenays (Trail, BC ) • Land, building and business • Building size is approx. 33,000 sq. ft. on a 1.5 acre lot. • List Price: $2,000,000

CONTACT: ALI MOHSENI | 778.840.8405 | [email protected]

FOR SALE: RARE INDUSTRIAL WAREHOUSE W/OFFICE | STUART WRIGHT

• Unit 2, 260 East Esplanade, North Vancouver, BC • 1,987 sq. ft., grade loading, air conditioned. Price: $510,000

CONTACT: STUART WRIGHT | 778.859.2407 | [email protected]

COURT ORDERED SALES

• 2 retail strata units, Langley: $599,000 • Heritage Office Building, New Westminster: $1,450,000

CONTACT: BRIAN TATTRIE - 604.714.4783 | GARY KHAN - 604.714.4799

FOR SALE: KITSILANO UNIT ; FOR LEASE: KERRISDALE RETAIL | ERIC POON

• FOR SALE: Kitsilano Strata unit, fully leased, 1,363 sq. ft., 5% return. Price: $689,000

• FOR LEASE: Prime Kerrisdale retail space on West 41st Avenue. Up to 5,209 sq. ft.

CONTACT: ERIC POON | 604.714.4768 | www.EricPoonCommercial.com

FOR SALE: 2126-2168 YUKON STREET, VANCOUVER, BC | DAVE WATT KELOWNA GOLF RANGE FOR SALE | Land, building & business | GARY KHAN

• Approx. 10 acres in ALR. List Price: $1,975,000 PRICE REDUCED: $1,925,000

CONTACT: GARY KHAN | 604.714.4799

FOR SALE: STRATA RETAIL OPPORTUNITY | FULLY TENANTED | BRIAN TATTRIE

555 North Road, Coquitlam, B.C.• 5 commercial strata lots • 24 parking stalls • Across from Lougheed Town Centre • Currently 100% leased to 6 tenants

FOR SALE: KAMLOOPS 67-ROOM BOUTIQUE HOTEL | BRIAN TATTRIE

CONTACT: BRIAN TATTRIE | 604.714.4783 | www.briantattrie.com

HOTELS FOR SALE | HAMIR BANSAL

• Available as either individual or bulk sale • Net income $176,059 • Asking $3,100,000

FOR SALE: 100-ROOM FULL-SERVICE FRANCHISE HOTEL in Vancouver • Please enquire

FOR SALE: 94-ROOM HOTEL | 30 APARTMENTS in Prince Rupert • Includes 5 retail leases, and hotel rooms are full service. Asking $5,000,000

FOR SALE: 84-ROOM FRANCHISE HOTEL in Lower Mainland • Full service. Asking $10,500,000

FOR SALE: 41-ROOM HOTEL in Lower Mainland • Limited service, not franchised. Asking $4,500,000

FOR SALE: 25-ROOM HOTEL in Hope • New franchise, all upgrades completed • Includes 3-bedroom house

• One hour from Vancouver • Asking $1,800,000

CONTACT: HAMIR BANSAL 604.724.8116

FOR SALE: SURREY, ABBOTSFORD PROPERTIES | MIKE GREWAL & VIC SANDHAR

• 7767 128th STREET, SURREY: ± 1.844 acre high exposure industrial/commercial site. Asking $4,290,000

• 8220 120th STREET, SURREY: ± 27,000 sq. ft. high exposure retail/commercial redevelopment site. Stand alone ± 12,000 sq. ft. building currently set up for restaurant/banquet hall business. Asking $1,750,000

• 17351 16th AVENUE, SOUTH SURREY: ± 14 acre residential development site. Asking $4,780,000

• 29352 FRASER HIGHWAY, ABBOTSFORD: ± 14 acre agricultural site fronting Fraser Highway. Asking $1,795,000

CONTACT: MIKE GREWAL or VIC SANDHAR | 604.590.2444 [email protected], [email protected]

Macdonald Commercial Real Estate Services Ltd.

Vancouver: 604.736.5600 | Fraser Valley: 604.590.2444 | www.macdonaldcommercial.com

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

SubscribeOVER $2.5 BILLION WORTH OF INVESTMENT OPPORTUNITIES EVERY MONTH

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33 SUITE APARTMENT BLDG1835 McLean Drive, Vancouver BC

Far Below Market Rents $6,400,000

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vailable land, a pool of skilled workers and investment by three levels of government fuel a resi-

dential construction boom in Surrey’s new city centre

When WestStone Properties Ltd. started presales in February 2010 for its new 36-sto-rey Ultra 3 residential tower in Surrey, it sold 150 units by October, with sales worth $38 million.

“It’s such a popular location, we didn’t even have to advertise it,” said Robert Dominick,WestStone’s vice-president of sales and mar-keting.

That “popular location” is Whalley. Once known more for its high crime rates than its highrises, Whalley is undergoing a makeover that is making it a desirable place to live.

Affordability also has a lot to do with the area’s sudden popularity, say developers.

At the Ultra, a studio apartment can be bought for $182,900; a penthouse suite goes for $786,900.

Another new residential tower going into the Whalley area – the Quattro 3 – has average prices of $200,000 per unit; a studio apartment can be had for $149,000.

“This is the only place where I can afford to build something of this calibre and for that kind of price,” said Charan Sethi, president of the Tien Sher Group of Companies, which is building the multi-phase Quattro develop-ment. “If I bought the same amount of land in Richmond it will cost me three times more.”

The median price for a new condo in Burnaby is $368,000, and in Vancouver it’s $400,000, according to the Urban Development Institute.

The City of Surrey has been focusing devel-opment in the Whalley area and rebranding it

as its new city centre.Several residential high-

rises are either under con-struction or in the works, and Dominick believes a commercial development boom is not far behind.

“Surrey is really open,” Dominick said. “It offers businesses a lot of reloca-tion space.

“When you look at Metro town [in Burnaby)]and how that’s built up over the years, I think Surrey is going to be even more of a catalyst than that was, simply because of the available workforce and the affordability of relocat-ing or starting a business in Surrey.”

Surrey was named by the Real Estate Investment Network of Canada last year as the best place in B.C. to invest in the residential real estate market, and the fourth-best city in Canada in which to invest.

The city issued building permits last year for $1.2 billion worth of construction work.

“The residential growth is definitely the strongest component,” said Mike McGee, an analyst with the Surrey’s economic develop-ment office.

There are three large residential develop-ments underway in the city centre and several more in the works.

Concord Pacific Developments Inc . is building two 36-storey residential towers (Park Place) and has long-term plans for four more.

Tien Sheer’s Quattro development will result in 1,900 units built over 10 years, and WestStone just recently turned sod on a new a 36-story residential tower as part of its Ultra Urban Village project.

FEATURE Low land prices, strong demand make suburban giant a hit with residential and office developers

NELSON BENNETT/BIV

WESTERN INVESTOR

Charan Sethi, president of the Tien Sher Group of Companies, announces the building of the next phase in its Surrey Quattro development. “If I bought the same amount of land in Richmond it will cost me three times more.”

Phot

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eak

Com

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ors

The City of Surrey has been investing heavily in Whaley’s makeover and so have other levels of government.

A new $1 billion headquarters for the RCMP’s “E” division is going into the city centre, Surrey Memorial Hospital is under-taking a $500 million expansion, and a new public library is planned to open in the fall of 2011.

Sethi said he believes the boom is being fuelled largely by land availability. Surrey is not squeezed for land the way cities like Richmond and Port Coquille are.

With 317 square kilometers of land, Surrey still has plenty of room for development and is close enough to Vancouver that it is an increasingly desirable place to live for people who work in Vancouver but can’t afford to buy there.

The $35 million Quattro 3, now under con-

struction, will see 165 units added to the 256 units previously built and occupied in Quattro 1 and 2.

Tien Sher recently added more land to the mix, bringing the total parcel of land for Quattro up to 12 acres. It’s projected that thetotal build-out of the development will beworth $700 million.

The Ultra 3 tower now under constructionis one of five to be built over the years. The total package – seven buildings, including five towers – represents a projected $1 billion in value. The project, at completion, represents 2,500 homes.

Sethi said the current development plans for Quattro 3 do not include a commercial com-ponent. “Right now, I personally feel there is enough [retail] there to satisfy everybody’sneeds,” Sethi said. “As the area grows, therewill be more and more [commercial develop-ment] happening.”

That is certainly true in the office sector, which is also seeing an increase in building.

Vacancies in Surrey’s office market hit a record low at the end of 2010, but the outlook for 2011 points to a sharp rise.

Brokerage firm Avison Young is forecast-ing vacancies across Surrey to reach 7.1 percent in 2011, up from 2.5 per cent at the end of 2010 given the volume of new constructionplanned for the city. But Avison Young princi-pal Darrell Hurst believes the actual scenariomay not be so dire.

“It’s just to give us some sense of what mayhappen,” Hurst said, noting that the forecastdoesn’t account for releasing in the 198,000square feet set to complete in three projects this year, nor additional deal activity.

But with demand in Surrey’s downtown core alone trending in excess of 300,000 square feet a year, Hurst is optimistic.“We fully anticipatethat we will exceed the historical average [absorption], and we won’t get as high as 7 percent,” he said.

Hurst said interest in Surrey from large-scaletenants is beginning to increase.◆

– With files from Peter Mitham/BIV


Housing “boom” silent out of cityThe loud B.C. housing boom that has

made Vancouver the most expensive market in Canada quickly falls silent once you get out of town.

A driver heading southeast from the west side of Vancouver, where prices surpassed $1.9 million in April, will find houses priced at less than 25 per cent of that within 40 minutes. Some Fraser Valley community house prices haven’t risen in four years and sales are flat. In Abbotsford, for example, average house prices are 3 per cent lower now than three years ago, at around $420,000. In Chilliwack sales are down 9 per cent from a year ago and sales volumes are off nearly 20 per cent.

The urban-small town price chasm is even more pronounced when one moves out of the Lower Mainland, according to the BC Real Estate Association.

Residential sales in the South Okanagan are 30 per cent lower this spring than in 2010 and MLS sales volumes are down 32 per cent, with a similar trend in the Kootenays. Vancouver Island housing sales are running 10.7 per cent behind 2010, which was not a strong year.

Victoria has seen residential sales fall 17.4 per cent this year, with dollar volumes down 21 per cent, the association reports.

Inflation fears driving strata industrial demand Fears of rising land and lease costs and

the low cost of borrowing continue to drive demand for strata industrial space across Metro Vancouver, according to a report from Avison Young.

“Owning real estate is an inflationary hedge and with such pressures building in the

short to medium term, the option to purchase is appealing to many owner-users,” Avison Young explained.

According to the semi-annual report, pent-up demand propelled industrial deal velocity in 2010, particularly in the second half of the year. This increased activity is anticipated to continue in 2011 as cap rate compression stagnates.

According to Avison Young principal John Lecky, more industrial tenants are looking for relocation opportunities as the market out-look improves.

Renewed economic confidence is also gen-erating investor interest in industrial real estate, he says, but that enthusiasm may be tempered by a limited supply of available real estate product.

Metro Vancouver’s industrial vacancy rate continues trending lower year-over-year as the lack of land and new development pushes lease rates, as well as deal and dollar volumes, higher. Overall vacancy currently sits at 4.5 per cent compared with 4.7 per cent in spring 2010.

Vacancy will remain low due to a measured increase in speculative supply brought on stream by the handful of large developers that control the majority of the industrial market, according to the report.

“You are going to see more [strata] con-struction in 2011,” said Lecky. “The combi-nation of low interest rates and increasing land and construction costs provokes users to seriously contemplate strata ownership versus lease obligations.”

Pacific drops out of pipeline playPacific Northern Gas Ltd. is dropping

out of a pipeline project planned in northwestern B.C.

The company plans to sell its 50 per cent stake in Pacific Trail Pipelines Ltd. (PTP) for $50 million to Apache Canada Ltd. and EOC Resources Canada Inc., PTP’s other project partners.

Following the sale’s completion Apache and EOC will own 50.5 per cent and 49.5 per cent of PTP, respectively.

The Beedie Group is prepar-ing for the construction of

the largest single-level ware-house ever to be built in the Lower Mainland in one phase.

The 504,000-square-foot facil-ity for tissue-maker Kruger Inc. is another sign that corporate confidence in the region has returned to pre-recession highs.

However, the buzz over the Beedie project, which would be the largest structure in the company’s 57-year history, has overshadowed several underlying Metro Vancouver industrial real estate trends that brokers say include:

square feet;Port Metro Vancouver (PMV) wanting large

warehouse space; and

Beedie is in final negotiations with the City of New Westminster and PMV to build the Kruger warehouse.

Kruger considered a range of options to consolidate two Annacis Island warehouses: one 194,000 square feet, the other 110,000 square feet.

The paper products manufacturer has been so pressed for space that it has used some at its New Westminster paper mill for storage and has had to store some products in third-party warehouses, said its broker, Cushman Wakefield senior vice-president of industrial properties Bob Stokes.

Kruger considered building its new warehouse on PMV land that’s more than a kilometre east of the Beedie site and therefore closer to Kruger’s mill. However, executives decided that hiring Beedie to build the structure on 20 acres of Beedie-owned land was the best option.

“Beedie is the best,” Stokes said. “They can build a building better, faster and less expen-sively than anyone.”

Kruger’s future warehouse won’t be Metro Vancouver’s largest. That title belongs to the 685,000-square-foot warehouse near the Braid Street SkyTrain station that Woodward’s built in the 1980s and is now used in part by Best Buy Canada. It has 95,000 square feet of available space.

Avison Young principal Rob Gritten believes the recent boom in warehouse construction marks the end to a lull that started during the 1990s when the New Democratic Party was in power and many companies chose to locate in Alberta.

“In the last few years there have been several million square feet built in the 400,000-square-foot size range alone,” Gritten said. “That’s really unusual for our market. We haven’t seen that before.” – Glen Korstrom/BIV

Largest new industrial building in B.C. under con-struction in New Westminster.

Phot

o: B

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oup

As part of the deal, Pacific Northern Gas will receive its first payment of $30 million upon closing. It will get the final payment when Apache and EOC decide to proceed with construction of the Kitimat liquefied natural

gas facility.Said Roy Dyce, PNG’s president and CEO,

“We did not initiate the transaction, but negotiating with our partners was the right thing to do.”◆

Keith Jakes, Dianne Van Schilt 250-492-2266 e-mail view at www.mrjakes.com

32 acres in the 'Golden Mile' with 20+ acres in full production. Two residences, fully equipped 8000+ sq.ft. winery + temperature controlled 3000 sq.ft. storage facility, rated Class I for grape growing with unique terroir. Asset sale. Exclusive – price upon request.

PENTICTON REALTY

24.5 acres with 16 acres in full production. 4 bedroom residence, zoning allows for 10 tourist commercial suites, spectacular views to Osoyoos Lake. Located in the heart of the “Golden Mile”. $2,999,000. MLS # 130194/130195

SOUTH OKANAGAN Vineyards & Wineries

Keith Jakes Personal Real Estate Corporation


530 - 1285 West BroadwayVancouver BC V6H 3X8

604 899 1122

Disclaimer: 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

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A22 Lower Mainland/Sea to Sky/Vancouver Island JUNE 2011 WESTERN INVESTOR

JORDAN ENG (604) 728-0883 [email protected]

Parking Lot For Lease

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Downtown development site. 75' x 122'Asking $6,750,000

239 E 6th Ave, VanAvailable immediately. Reasonable rents.6,242 sf. 18' ceiling height warehouse.

485 Commercial Dr at Pender9,500 sf. Ideal for food service manufacturing.Retail exposure. Corner location. Close to DT

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SUNSHINE COAST, BCML#V4021517 “The Dock” in Sechelt Now $1,399,900Main street, downtown location with excellent expo-sure in Sechelt. 2 level building with retail, store, offic-es and zoned for residential above. High traffic area with lots of parking. 10 tenancies in place, many long term and great cap rate. Call Terry for more info.

ML#V4024655 Main Street, Sechelt $879,000Commercial building with two excellent tenants. Prime location on main street with upgrades & high visual presents. Triple net leases & good cap.

TERRY & PAM B R A C K E T T [email protected] Oceanview Realty SECHELT

KATHY BOWESDirect line 604-483-1633 CALL (anytime)www.kathybowes.comPowell River

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FOR SALE NEW PRICE $168,000Well Established Clothing Boutique

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Pub & Real Estate - 4000 sf on over 1/2 Acre 163 seat & BW allowed, redev. potential $735kPrime Retail For Lease 1,200 – 15,000 sf B Park by National Retailers and Hwy 99! Spring 2011Prime Retail Building Busy Dwtn corner SOLDMixed Use Building Downtown 67K Potential net income 869K

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www.bcoceanfront.comED HANDJAED HANDJA

COMMERCIAL RETAIL & SERVICE FACILITY Campbell River, Vancouver Island service commercial complex on a 2.12-acre level corner lot with over 580ft of road front & 14,500sqft of improvements: 6000sqft shop & warehouse with fi ve 12X12 overhead doors, attached 1500sqftshow room & offi ce, fully fenced yard & 3000sqft& 4000sqft warehouses. Structures are over height with metal siding & bonded tar & gravel roof. $1,200,000

WINTER HARBOUR MARINA & RV RESORT A diverse commercial resort operation & a premiere West Coast Vancouver Island fi shing destination: 3 adjacent oceanfront properties with a boat launch, 20RV sites, large foreshore lease, substantial standing pier & dock, guest accommodations, fi sh processing facilities & 2bedroom cabin. A business with steady growth well suited as a group purchase for outdoor enthusiasts. $899,000

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SUNNY SANCTUARY CAMPGROUND76-site campground on North Vancouver Island. 4.7 riverfront & oceanfront acres with 10 tent sites, laundry & washroom areas, 2bedroom 1558sqft manager’s home, community water & sewer, Hydro, phone, paved 2-lane roadway, 24x30 Picnic Shelter, Sewer Dump Station, 8x12 hydro shed with 600amp main & 3x200amp sub panels, & a 5’6”x15’6” freezer storage shed. Good Revenue! $595,000A Luxurious Waterfront Estate of Exceptional Quality and Design known as

‘Villa Madrona’. Sited close to the ocean the residence of four bedrooms being 11,000 sq ft (1022 sq.m), Guest House 3,461 sq ft (322 sq.m) and studio apartment. Indoor swimming pool/conservatory, theatre, gym, games and entertainment rooms, sports court, large patios, greenhouse, garaging for 8 vehicles, boathouse and an excellent private beach. Set in a secluded and beautifully landscaped & treed tranquil two acre (.81 ha) gated property with 400 ft (122 m) of prime oceanfront. Westerly exposure with very impressive expansive marine views. Situated on the Saanich Peninsula in the District of North Saanich on Satellite Channel being easily accessible from Vancouver and only 35 minutes from Victoria. Further information, photos and video see our website villamadrona.ca

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ordon Loverin has waited decades to see something, anything, kick-start the economy in northwest

B.C.Like many others in the northwest, Loverin

has watched investment drive development elsewhere in B.C while businesses in the north-west shut down mills and plants against the ebbing tide of a dwindling forest industry.

That is, until now.In March, the province approved the $404

million Northwest Transmission Line (NTL). The 344-kilometre line, which would extend north along Highway 37 from Terrace to Bob Quinn Lake, would not only bring a number of off-grid communities onto the grid, but also provide the power needed to drive a new era for the region’s resource industries.

Proponents say the project is a catalyst for development.

Loverin, co-chairman of the Northwest Powerline Coalition, believes it will drive business opportunities in the region for decades.

Investment begins with the construction of the line, which, proponents say, would acceler-ate development of mines and power projects.

That, in turn, would generate opportunities for service companies to supply everything from trucks, cranes and tires to beds and food to accommodate workers. Once the snowball begins to roll, Loverin believes it will cascade into other industries as well.

“You’ll see an increase in the development of new highway lodges serving the tourism indus-try,” said Loverin. “One of the most prohibitive expenses has always been generating your own electricity because there’s no power line in the region, so I think there’s an opportunity for tourism … created by First Nations and local

residents.”Although the NTL

awaits a final green light from Ottawa, businesses across the province wasted no time last month lauding its provincial approval.

In separate releases, Imperial Metals ,Copper Fox Metals,Hard Creek Nickel(Columbia Yukon Explorations) and Firesteel Resourceswelcomed news the project was proceed-ing.

I f there was any question as to what industry was likely to benefit most from the transmission line, the mining sector long ago answered it.

A 2009 report by the coalition outlined 11 potential mining projects near the power line route.

The report said the NTL could attract more than $15 billion in investment, create 10,000 jobs and generate $300 million in tax revenue for governments. Although the power line won’t generate juice before 2013, businesses have already noticed a change in the region.

Valerie Gauvin, business manager at Terrace-based contractor Progressive Ventures, said the mining industry is ramping up in the area.

“There’s at least one or two four- and five-hundred-man camps there being built as we

FEATURE $404 million high-power transmission line expected to juice the economy of northwest B.C.

JOEL MCKAY/BIV

WESTERN INVESTOR

The Northwest Transmission Line is forecast to trigger $15 bil-lion in investments and generate 10,000 jobs. Work has started on the 344-kilometre line, running north from Terrace.

Phot

os: BC

Hyd

ro

speak … they’re coming to Terrace and getting quotes on everything from the construction to the beds they need,” Gauvin said.

Calgary-based AltaGas confirmed 30 people were already on the ground at its Forrest Kerr project.

The $700 million run-of-river hydroelectric project will deliver power to the grid via the NTL and is expected to employ 350 to 400 people at peak construction.

Despite the activity, many people in the region still wonder if the NTL is big enough to support all of the development proposed in the region.

“A lot of the talk out there is that this line is

possibly too small,” said Mark Lindsay, man-ager at Rain Coast Cranes in Terrace.

Thanks to its vast mineral wealth, prospec-tors and explorers have for years referred to the area as the Golden Triangle.

According to a 2010 provincial map, there are 20 major exploration projects active in thevicinity of the NTL.

The aggregate potential power demand forthe 11 projects outlined in the 2009 coalition report topped 700 megawatts.

Greg Reimer, executive vice-president,transmission and distribution, at BC Hydro,said the normal capacity of the NTL would be 260 megawatts. That’s less than half the power needed to support the 11 mining projects, butReimer said the power line would be able to support the expected development in the area.

Pierre Gratton, president and CEO of theMining Association of BC, said it all depends on how many projects come online and at what speed.

Then again, development in the region might not take off as quickly as some think.

The mining industry is welcoming only its first new major metal mine in the last decade this year, and most of the projects in northwest B.C. are in early development stages.

Although many of the projects are quitelarge, they’re also low-grade, meaning they’remore susceptible to the dangers of low metal prices. Galore Creek, a joint venture between NovaGold Resources and Teck Resources, is considered one of the region’s more valuable projects but has yet to release an updated pre-feasibility study. But one company that isn’tholding back on its development is Imperial Metals.

The Vancouver company’s Red Chris project has most of its permits and is only 23 kilome-tres from the proposed power line. Chair Pierre Lebel believes the only two “actionable” proj-ects in the region today are Forrest Kerr andRed Chris, and he hopes to have his mine builtin time for the power line’s completion. “I’ve had no trouble telling people we’ll be the first customer,” Lebel said. ◆

A24 Vancouver Island www.westerninvestor.com JUNE 2011 WESTERN INVESTOR

Business Is Better On Vancouver Island

Tel: 1 800 769 5757 www.dtznanaimo.com

For Sale31.83 Acre Industrial Land Parcel - North Cowichan $3,500,000Heavy Industrial Zoning. Also available for lease.2.05 Acre Prime Development Site - North Nanaimo $2,900,000On Old Island Highway adjacent to Long Lake.2.98 Acre Re-Development Site - Central Nanaimo $2,695,000On Bowen Road with C-13 (Service Commercial) Zoning.7.42 Acre Oceanfront Property - Port Renfrew $2,500,000Picturesque, untouched parcel at San Juan Point.New Office and Commercial Building - Central Nanaimo $1,359,0001 space left in new building on Terminal Avenue, approx 4,610 sq ft.Investment Property - Downtown Nanaimo $ 799,0007,977 sq ft building on Wallace Street.Commercial Development Property - Nanaimo $ 795,0001.2 acres with C-12 Zoning beside Nanaimo Parkway.Retail Business & Demolition Contractor $ 775,000New and used building materials in Central Island location.Residential Development Property - Nanaimo $ 649,0004.88 acres near the Nanaimo Parkway.Court Ordered Sale - Waterfront Restaurant, Land, Building $ 579,000In Maple Bay. Includes self-contained 1,604 sq ft suite. Commercial Property - Alberni Highway $ 590,0001.11 acres with exceptional highway frontage. Commercial Properties Zoned C-4 and C-13 - Nanaimo 2 lots on Kerrisdale Road totaling 19,600 sq ft $ 325,0009,800 sq ft lot with 1,037 sq ft office off Bowen Road $ 260,000Commercial Zoned Land and Building - Port Alberni $ 245,00010,956 sq ft lot with 132 ft road frontage and 3,526 sq ft building.Light Industrial Strata Unit - Nanaimo $ 214,9001,493 sq ft in excellent Central Nanaimo location near Parkway.

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Business OpportunitiesUPHOLSTERY & FURNITURE REFURBISHING—Nanaimo $ 119,000FAMILY ADVENTURE CENTRE—Nanaimo $ 149,000SEWING MACHINE & FABRIC RETAILER—Nanaimo $ 180,000FRANCHISED FAMILY RESTAURANT—Ladysmith $ 219,000ESTABLISHED RESTAURANT—Tofino $ 249,000 ESTABLISHED PLUMBING & HEATING BUSINESS—Nanaimo $ 250,000ENGINE MACHINING & PARTS BUSINESS—Nanaimo $ 395,000JUMPING JIMINY’S PLAYLAND & CAFÉ—Nanaimo $ 419,900Well known children’s entertainment businessRESTAURANT ON ISLAND HIGHWAY—Parksville $ 425,000A&W RESTAURANT & FAMILY ADVENTURE CENTRE $ 595,000Franchise restaurant in Central Nanaimo as a package with awell known family entertainment destinationESTABLISHED PLUMBING & HEATING BUSINESS—Nanaimo $ 650,000On 7,560 sq ft lot with 1,300 sq ft buildingSPECIALTY MACHINE SHOP—Central Vancouver Island $ 900,000ENGINE MACHINING & PARTS BUSINESS—Nanaimo $ 950,000With Strata Titled land and buildingSHEET METAL FABRICATION BUSINESS—Nanaimo $1,095,000Land, Buildings and up to $75,000 in inventoryLIQUOR STORE IN LEASED PREMISES—Central Vancouver Island $1,500,000SPECIALTY MACHINE SHOP—Central Vancouver Island $1,700,000On 16,988 sq ft lot with 150 ft road frontage and 6,528 sq ft buildingFRANCHISED MOVING & STORAGE CO.—Central Vancouver Island $2,550,000PUB & LIQUOR STORE—Central Vancouver Island $3,600,000CEDAR SHAKE/SHINGLE MANUFACTURER - www.bcfshake.com $3,900,000Land, Buildings, Foreshore Leases and Equipment, Inventory extra

Featured ListingsGreen Rock Industrial Park22 Light Industrial Lots in prime Nanaimo Location 9,688 to 71,849 sq ftExcellent highway access and “Green” construction. $199,000 to $995,000Seaview Centre - Parksville7 strata titled office units ranging from 490 to 1,532 sq ft. $110,000 to $325,000Package of 4 available at a reduced price.

Irish Themed Pub & Grill - Lake CowichanLakefront pub with loyal customer base. Approximately $300,000 spent on improvements since February 2009. Offer includes land and buildings, including boat dock. Offered at $775,000Heavy Industrial PropertyLocated at Duke Point in Nanaimo this 5 acre site is paved andfenced and includes an approximately 18,000 sq ft building.Offered for sale at $2,000,000Investment Property - Brentwood Bay7,417 sq ft fully leased commercial strata unit in professionally managed development. Offered for sale at $2,395,000Investment PropertyLocated in Coombs, this 18.81 acre site on the Alberni Hwy includes a mobile home park and commercial lease revenue. Well priced at an 8% cap rate. Offered for sale at $2,775,000

MAKE MORE DEALSMarket your listings in the Western Investor. Thousands of private

investors and real estate professionals

use the Western Investor to help guide their

investment dollars into profitable businesses.

JULY AD DEADLINE: JUNE 13TH

Report: Waterfront real estateBuying a golf courseMobile home parksForest lands: after the beetleFranchise NewsRecreational PropertiesRegional Roundups:BC: KelownaAB: Red DeerSpotlight: Churchill, MB


hanks to higher demand for cop-per and rising prices, the town of Princeton, just four hours east of

Vancouver, is experiencing a rebirth. The town’s fortunes have risen and fallen with the prices of commodities, and Copper Mountain mine just 20 kilometres to the south has been at the source of the flux.

For the past few years, the Copper Mountain Mining Corp. has been developing the mine again, bringing hundreds of workers on site to build the infrastructure, and now employ-ing more than 200 workers (expect to rise to approximately 270) for regular mine operations this summer.

“That’s what you need to keep it going 24 hours a day, seven days a week,” said opera-tions manager Art Pratico on a walking tour of the mine.

Not surprisingly, it seems the entire town of Princeton has embraced the mine, with a pow-erful message from the mayor and council indi-cating their support of “110 per cent.” Local school children even participate in significant milestones, and people who moved away when the work had slowed down are getting ready to settle back in.

The feeling is a little like a reinvigorated gold rush as though some explorer randomly found a nugget panning for gold.

Only this isn’t some random find.Copper Mountain (which has gone by the

name of Princeton Mining and Granby in previous lives) has had a huge influence on the town of barely 3,000 because the mine has been in an out of operations for more than a century.

Over the years, it’s served as an employer to multiple generations of Princeton residents, some of whom have worked in the mine at dif-

ferent times over the past 50 years.Besides the impact on residents who are

now employed by the mine, there are multiple spin-off effects from the service and product providers.

More than 100 vendors have served the mine, coming from as far away as Ontario, Arkansas and Houston. A single airstrip near Princeton allows for access for smaller deliv-eries, but most equipment coming via ground will be passing through Princeton and bringing customers for restaurants, lodging and vehicle servicing.

The heightened activity is hard to miss.“It used to be that only Friday afternoon

there’d be so much traffic, you have to wait to let cars go by before you could cross the street,” said Princeton mayor Randy McLean. “Now, every day is like Friday.”

McLean points to the pine-beetle devasta-tion as one reason why people are so excited for this project.

FEATURE Renewed ‘gold rush’ ramps up the energy as Penticton welcomes return of major mining play

BAILA LAZARUS

WESTERN INVESTOR

Copper Mountain dates back to the late 19th century. In the 1920s, Granby

Consolidated Mining, Smelting and Power Company built a mining facility on the property and proceeded to extract 31.5 million tonnes of ore. By compari-son, projections for today’s mine is more than 100 million pounds of copper per year, with an expected 17-year life span. The estimated copper resource is five bil-lion pounds.

The mine has opened and closed three times since the early 20th century, with the most recent stretch lasting from 1971 to 1996. When copper prices fell, the mine closed, and activity in Princeton slowed.

At that time, then owner Princeton Mining sold the property for soil reme-diation. Jim O’Rourke, president of Princeton Mining at the time, turned his attention elsewhere, but the man with almost half a century of mining admin-istration under his belt soon came back; and this time, with a partner.

In 2008, as CEO of Copper Mountain Mining Corp., O’Rourke secured financ-ing from Mitsubishi Minerals Corp. for $28.75 million in exchange for a 25 per cent interest in the mine. Total capital costs are estimated at $248 million. In 2010, that same partnership – which now comprises a consortium of lenders that includes the Bank of Tokyo-Mitsubishi UFJ Ltd., Mizuho Corporate bnk Ltd. and the Japan bank for International Cooperation – resulted in US$322 million debt financing.

The project officially began in 2007 when Copper Mountain acquired Similco Mine, which was followed by an IPO on the TSX Venture exchange.

Mining action at Copper Mountain will go 24-7 and include 270 workers at full produc-tion. Says the Princeton mayor: “We were going to be one of the hardest-hit communi-ties. Then the mine came. I said, ‘Folks, we don’t qualify [for help] anymore.’”

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“I think why there’s been this support [from government and community] is that revenue from forestry is diminishing in the Interior so from a revenue perspective, they’re really inter-ested in other communities seeing the positives about the mining industry.”

The mayor sits on the Southern Interior Beetle Action Coalition (SIBAC), which just is being given $3 million over three years to help towns whose economy is suffering due to the pine beetle epidemic.

“We were on the top of the list when we started SIBAC – we were expected to be one of the hardest-hit communities,” said McLean. “Then the mine came. I said, ‘Folks, we don’t qualify [for help] anymore.’

Along with the excitement comes the real-ization that the town needs to build and grow as the mine does. “We need to make sure there’s enough land to build on and enough movement in getting residential permits and proper zoning permits in time,” McLean said.◆

NANAIMO | VANCOUVER ISLANDDEVELOPMENT AND INVESTMENT OPPORTUNITIES

MULTI USE DEVELOPMENT SITE Great development potential in the rapidly expanding area of Chase River in South Nanaimo. 8.91 acres, 4.3 acres usable, higher density resi-dential and Commercial uses. Adjacent to Highway 19A. Easy access. Asking $2,800,000 Call DARWIN for info.

EXCLUSIVE LISTING - CAREFREE INVESTMENT16 UNITS! 6 yr. old Apt./Townhome project in Port Alberni. Fully leased to Gov't. Agency. $1,797,000 Additional adjoining land for further development is also available. Located in the best part of Port Alberni next to North Island College & other amenities. Call ROB for info.

OUTRIGHT PURCHASE OR POSSIBLE JV OF A UNIQUE AQUACULTURE SEA FARM A turnkey facility waiting to be restarted into production. Excellent location in Barkley Sound, the Pacific Rim area of the West Coast. This specific sea farm is noted as having one of the best locations for sea farming activity and has the potential of expansion within existing license. Consulting is available to train owners, staff and workforce in all aspects of sea farming. All permits, etc are in order. Priced for an outright sale at approx. 50 % of what a new sea farm facility may cost today. A JV may be considered. Asking $850,000 Call ROB for info.

Darwin MahlumRobert Borden250.760.1066

Vancouver Island's Leader. DEVELOPMENT, LAND, RES/COMM PROJECTS, & MARKETING

UNIQUE BUSINESS INVESTMENT OPPORTUNITY; A Joint Venture or Investment based requirement for a leading Fish HatcheryOne of the best Hatchery establishments on the Southern B.C. Coast. Excellent location offering perfect conditions for product success. Over 25 years of husbandry make this operation a leader in its field. Hatchery occupies 12 freehold waterfront acres on a spectacular lake on Central Vancouver Island. All aquiculture licenses foreshore leases, water licens-es and required permits are in place. Business involves all aspects from wild salmon enhancement, egg development and shipment to Asian destinations, and the raising of smolts for various specialty sea farm op-erations. Further detailed information is available for qualified investors. Call ROB for info.

MOTEL NEAR DEPARTURE BAY FERRYREDEVELOPMENT OPPORTUNITY! 21 Units plus Owner's Residence. Designated for 6 Storey Commercial Office / Residential Mix. The site is perfectly located wih great access and Hwy Exposure. Enjoy current income while planning a higher and better use for the site!Asking $1,500,000 Call DARWIN for info.

OCEAN & CITY VIEWS! 12.4 ACRE SITEDEVELOPMENT OPPORTUNITY 10 RES. LOTS PLUS 26 LUXURY TOWNHOMES. Located in an upscale residential neighbourhood close to Vancouver Island University. This RS-8 site has all necessary designs, plans, reports & approvals in place. The Develop-ment Permit is ready to be issued after confirmation or any modifica-tions a new Purchaser may want. All services & approvals are available to be in construction this year! Call DARWIN for info.

EXCELLENT RENTAL APARTMENT INVESTMENTOffered @ 8.5% Cap! 47 units, substantially renovated in 2009-2010, elevator, 4 stories, centrally located. Excellent management on site, good tenancy profile, few vacancies, one of the best rental Apartment Buildings in this City. Asking Price @ $1,900,000. Information brochure. Call ROB for info.

INDUSTRIAL BUILDING IN VANCOUVER, B.C.Located in close proximity to downtown Vancouver and Commercial Drive. Older industrial building on 5,808 sq. ft. of land. Building fully occupies site. Grade level loading door, separate entrance door. Two offices, one half bathroom, great for a storage facility. Priced @ $775,000. Call ROB, Information brochure available.

TF: 1-800-715-3999

Cell: 250-897-8508

[email protected]

www.robphillips.ca

ROB PHILLIPS

COMOX VALLEY, VANCOUVER ISLAND ICI:

Comox Valley

R. MIKE MULLIN, CGATF: 1-855-650-6560Email: [email protected]

www.coastrealty.com

LEASE SPACE INDUSTRIAL-1680 s.f. $11/s.f. base, + $2.77NNN (est)-industrial zoned…includes free 600s.f. mezz-lockable compound out back, 14’ loading doorLEASE SPACE RETAIL/COMMERCIAL-former Subway space: high traffic-downtown Comox in main business section-1119 s.f. $22/s.f. base + $12 NNN (est)SIGN BUSINESS-established 17 years in the same location-client list included-includes inventory (est: $2500) Asking $39,900GROCERY STORE/BAKERY WITH RESIDENCE-desirable Bates Beach area-nearest competition 3.5 km-separate bakery & store businesses down-3 bdr residence up-includes ½ acre, 3100 s.f. bldg, garage, sheds Asking $399,000COMMERCIAL STRATA DOWNTOWN COMOX-hi pedestrian/car traffic location with huge street

frontage-840 s.f. in prestigious Comox Quay Asking $319,000COMMERCIAL STRATA UNIT-1170 s.f. unit with 3 phase power-retail entry, workshop rear with 12’ door-mezzanine which can be conv. to residential Asking $215,000

monarkinvestments.caPlease visit our website or call for more details.

604-592-7250Financing Available. Potential Trades.

TWO PRIME LOCATIONS FOR SALE WITH POTENTIAL FORCAREHOME OR CONDO SITES

NEW PRIME RETAIL SPACE FOR LEASECENTRALLY LOCATED NEXT TO POPULAR RETAILERS SUCH AS

SHOPPERS DRUG MART

COMOXCENTRALLY LOCATED NEXT

TO POPULAR RETAILERS SUCH ASSHOPPERS DRUG MART.

POTENTIALCAREHOME OR CONDO SITE

LANGFORDCONDO SITE APPROVED FOR

UP TO 188 UNITS

EXCELLENT LOCATION

LOCATED NEXT TO COSTCO,A SHERATON HOTEL, HOME OUTFITTERS,

AND MANY OTHER RETAIL STORES

2.34 ACRES OF POTENTIAL

A26 Vancouver Island www.westerninvestor.com JUNE 2011 WESTERN INVESTOR

www.judygray.com

JUDY GRAY, CCIM

1.800.600.1718 Suite 103–1801 Bay Street, PO Box 195, Ucluelet. BC.

Canada V0R 3A0MID-ISLAND REALTY

B$1,540,000

$369,000

$214,000S

$985,000F

$499,000

Development land on inlet Tourist commercial zoning 1.25 ac $345,000 1.52 ac $405,000

Oceanfront Hotel Site 13.76 ac, 175 rooms Fully treed/serviced ....... $9,000,000

Oceanfront Lodge w/Cabins www.Rainforestbeachlodge.com ........................................ $2,450,000

Campground 18.32 ac 52 sites + 10 overflow & 3 group www.Surfjunction.com ....$1,800,000

NANAIMO & VANCOUVER ISLAND PROPERTIES

D E V E L O P M E N T S I T E S

26 UNIT CONDO DEVELOPMENT SITE Fabulous ocean views. 1 acre. Financing available.

Approved plan with city. $729,800 NANAIMO DUPLEX 3 bedrooms per side, 2 separate titles. Excellent income. $424,900

NEW EXCECUTIVE CONDO ON THE WATER with swim-ming pool & boat deck. Boat moorage included. Seller will finance with 10% down & look at trades $425,000

SECURE INVESTMENT 6 brand new homes, all with legal suites, 2 meters each, 10 yr warranties, separate titles, 5 1/2% CAP, or hold & sell. $2,550,000

PANORAMIC OCEAN VIEW DEV. SITE 24 Lots approved residential subdivision property

Cost estimates available. Asking $1,475,000

142 ACRE DEV. SITE Nanaimo $5.8 M

WATERFRONT TOWNHOME1740 SF 2 bedrooms, hardwood floors, granite counter tops, roof top patio. $599,000

5 RENTAL HOMES – All together 5 sep. adj. lots. Starting at $234,900 or all for $1,150,000. Seller will finance.

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

5 PLEX NANAIMO 5 meters, over $4,500 monthly revenue. Covered park-ing. Storage lockers. Separate meters.Asking $749,500

HERITAGE APARTMENT BLOCK13 self contained units. 1 commercial space plus lease pub & license. Gross revenue $10,000/month. $925,000

FORECLOSURE COURT ORDERED SALES3 ACRE TOWNHOME DEV SITE

Stunning ocean view up to 30 units. $995,000

FORECLOSURE OCEAN VIEW DEVELOPMENT 9 Acre, 28 lot subdivision in Chase River

Quiet neighbourgood property is beautifully treed And would accommodate 28 single family

homes or small lots. Mortgager may finance. Trades welcome. Foreclosure Price: $848,000

H O T E L S & P U B SFULLY SERVICED HOTEL Recently renovated, 30

rooms, 125 seat pub, wine and beer store. Generating over $1.5 million annually and growing. $1,590,000

NORTH ISLAND HOTEL & PUB, WINE & BEER STORE 50 Rooms and restaurants. 2 lots. Over 4 Million

annual sales. $3,100,000

6 ACRE DEVELOPMENT SITE Zoned RM5, 4 Phases approved for townhome & condos. Central Nanaimo.

Asking $2,395,000 FINANCING AVAILABLE

JUST LISTED; FANTASTIC OCEAN VIEW RM-5 Dev site, unrestricted views, overlooks cruise ship pier. Approved for 34 condos, No DCC’s. $729,000

FULL FACILITY SUPER 8 MOTEL Central/southern Vancouver Island. High profile Location. 36 rooms, with franchised restaurant plus 125 seat pub 1.5 acre property.

38 Front Street Units for sale. Walk-on waterfront townhome $509,000 no HST. Call Dale for other available units.

PACIFICA OCEAN FRONT CONDOS

1 BEDROOM PLUS DEN $239,900

71 UNIT APARTMENT BLOCK 4 separate buildings. New Renos. Over $500,000 spent. North Island location. Over $27,000 monthly income. Management in Place. $2,890,000

DALE SHORTT Bus: (250) 758-3700 TOLL FREE 1-800-665-8313 OceanPointe

C O N D O S & H O M E S

INCOME PRODUCING + REVENUE PROPERTIES

6 ACRE PRIME DEV. SITE in central Nanaimo. Approved plan for 131 units. Seller will finance. 4 phases

$2,390,000

DUPLEX LOT $129,000 4 PLEX LOT $199,000

23 ACRES $459,000 50 ACRES, $995,00043 ACRES $859,000 Adjoining properties, 1 mile from

city limits, Zoned for 5 acre lots

COUNTRY ESTATES DEVELOPMENT SITE

$3,950,000


Gravel pit 7 km to deep sea dock Loaders Excavator Dump Truck Screening Plant Jaw Crusher 10” x 36”

FOR SALECONSTRUCTION BUSINESS Full Property Management Services

(Residential and Commercial)

including Facility Management

Services in Victoria and

Prince Rupert, B.C.

Contact Dale Schuss

[email protected]

www.randallnorth.ca

VANCOUVER ISLAND Comox Valley

www.robsamsom.caRE/MAX Ocean Pacific Realty

Rob Samsom AACI CCIM FRIPERSONAL REAL ESTATE CORPORATION

1-888-829-7205

Over 20' ceilings - 2 full storeys allowed. .............. $274,900

....$2,299,000

............................................... $1,395,000

$162,800

SPACES FOR LEASE

.....................................................$629,000

2nd floor vacant 2,200 sq ft ... $249,900 3rd floor leased 2,200 sq ft ...... $254,900

On .28 ac, Comox ................... $925,000

Zoned for 14 ............................ $850,000

On ½ ac, Courtenay ................. $925,000

On .23 ac, + chinese restaurant Cumberland ............................ $480,000

$850,000

CENTURY 21 QUEENSWOOD REALTY LTD.

Exclusive new lakefront community, fully serviced with private dock, on the sheltered & sunny south end of Lake Cowichan! Enjoy non-stop fun and sun in this magical location just 40 minutes north of Victoria BC, close to fantastic ammenities & the best westcoast lifestyle.

Incredible 5.17acre waterfront estate in exclusive Queenswood, one of the area’s largest properties! “Twin Coves” is named for the 2 stunning coves on the shoreline, w/private pebble beach & easy waterfront access for kayaks or small boats; views from this magical estate are absolutely spectacular . . . w/ abundant marine wildlife & ever-changing seascapes! The spacious 4700 sq.ft. 1947 residence is totally private & close to the water’s edge, w/an expansive patio overlooking the beach . . . has been exceptionally well maintained & enjoys incredible views, but requires some cosmetic updating . . . build your new dream home here, or sub-divide into several oceanfront lots!

waterfront properties

Subs

cribe

www.westerninvestor.com

CALL NOW 1-800-661-6988


one Deals is our monthly feature highlighting some of the major real estate transactions completed

recently in Western Canada’s vibrant com-mercial real estate market.

From: Colliers International, Victoria. Colliers brokers Ty Whittaker and Michael Miller report the following sale:Deal: 181,500-square-foot Gateway Park, Victoria, a fully leased office-space complex that includes a 400-stall parking structure. Sold on behalf of a local investment group to Whiterock REIT. Price (asking): $33.2 million.

From: Avison Young Commercial Real Estate, Vancouver. Avison Young agents Rob Greer and Mark Hannah sold the fol-lowing:Deal: 117-unit apartment rental complex (three buildings) on Vedder Road, Chilliwack. Sold between unnamed parties. Price: $10 million.Deal: 27-unit rental apartment building on Mary Street, Chilliwack. Sold between unnamed parties. Price: $1.72 million.From: Dexter Associates Realty, Vancouver.

Dexter agent Sandi Fratino listed and sold the following:Deal: 3,900-square-foot retail/residential building at 4396 Fraser Street, Vancouver. Price $1,025,000.From: Dexter Associates Realty, Vancouver.Dexter agent Larry Traverence reports the following sale with listing agent Martin Sprenkels of Century 21 Performance Realty & Management, Squamish. Deal: Two retail/office buildings on Pemberton Avenue, Squamish. Price: $42.2 million.

From Syber Realty Ltd., Kelowna. Syber agent Larry Berisoff reports the following sales:Deal: 12-unit motel, Pemberton. Price: $800,000.Deal: 26-unit motel with attached restaurant. Price: $628,000.

From: Success Realty & Insurance Ltd.,Vancouver. Success agent Jordan Eng sold the following:Deal: Mixed-use retail and two residen-tial rental units on 34-foot-by-111-foot lot, Victoria Drive, Vancouver. Price: $1.87 mil-

lion.Deal: 8,845-square-foot office building, East Vancouver. Price: $4.4 million.

From: Dundee REIT, Toronto. Dundee reports the following acquistion:Deal: 209,500-square-foot Saskatoon Square office building, Saskatoon. Price: $50 mil-lion.

Recently completed a major commercial real estate deal? Send details for a free report here to: [email protected].

Our readers report on recent commercial real estate deals across Western Canada

26-unit motel in New Denver, B.C., sold for$628,000.

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Three Chilliwack apartment rental build-ings, total 117 units, sold for $10 million.

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27-unit Chilliwack apartment rental build-ing sold for $1.72 million.

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of Nanaimo

VANCOUVER ISLAND COMMERCIAL

FRANK JOHNSON JAY COUSINS JAY COUSINS JAY COUSINS

www.nanaimoremaxcommercial.com

1-877-335-4380Jay Cousins

[email protected] Johnson

[email protected]

1-877-423-0984Jay Cousins Realty

INVESTMENT OPPORTUNITIESFULLY RENOVATED & REDESIGNED -

$419,000

1.4 ACRE PROPERTY ZONED HEAVY INDUSTRIAL

$595,000

12 UNIT APARTMENT BUILDING

$749,000

$995,000

$1,895,000

REDUCED $1,950,000

INVESTMENT OPPORTUNITIES-

$269,000

$279,000

-

$1,495,000

-$2,075,000

-

$629,000.

BUSINESSES$85,000

$129,000$139,000$149,000$149,000$179,000

FOR SALE

MOTEL, DUNCAN, BC

REDUCED TO $1,250,00066 ACRE ESTATE

$1,950,000.00

TENANTED INDUSTRIAL BUILDING FOR SALE

$1,890,000.00 - 1.83 acres

of land, in the Duke Point Industrial Park. Large flat lot, easy to develop and close to the Duke Point Ferry Terminal. Potential to be re-zoned to Heavy Industrial ( I - 4) $499,900.00

Fully leased 1837 sqft commercial stra-ta unit over 2 floors (935 sq. ft., and 902 sq. ft.). $410,000.00

INVESTMENT OPPORTUNITIES

$699,000

--

$715,000

-

$795,000

-

$799,000

$690,000$1,590,000

$1,019,000

-

$4,500,000

SOLD

B.C. MARINA & RESORT

Protected MARINA, 11 Oceanfront CABINS, Offi ce,

House, Conference Centre, Boats, Bikes, *** REFERRAL FEE

REDUCED! $1,650,000

[email protected] www.seascapewaterfrontresort.com

Mark 250-650-6508

QUADRA ISLAND

CAROL BUDNYK, REALTOR® Direct: 250 588-3378 Email: [email protected] www.realestate-penderisland.com

Purchase of shares and assets allows buy-er to step into turnkey operation of the only gas bar and service station on Pender Island, including a convenience store, and a pet supply store. Great opportunity for a family to settle in one of the most secure, healthy, and friendly communities in North America. Up-to-date financial info avail-

able for serious inquiries. Call or email for details.

BUSINESS OPPORTUNITY IN THE Southern Gulf Islands! FOR SALE

STRIP MALLStrip mall approx. size 8,900 sq. ft. Leases in place with Field’s Store as anchor for the last 20 yrs.

List price $625,000


A28 www.westerninvestor.com JUNE 2011 WESTERN INVESTOR

RE/MAX TREELAND REALTY#101 6337 - 198 Street, Langley, B.C. V2Y 2E3Tel: (604) 533-3491Fax: (604) 533-0202

Toll Free at 1-888-707-3577

RE/MAX BOB PLOWRIGHT REALTY7300 Vedder Road, Suite 1, Chilliwack, B.C. V2R 4G6

Tel: (604) 858-7179Fax: (604) 858-7197

Toll Free at 1-800-830-7175

RE/MAX SABREREALTY GROUP

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

RE/MAX LITTLE OAK REALTY2630 Bourquin Crescent West,

Suite 9, Abbotsford, B.C. V2S 5N7Tel: (604) 859-2341Fax: (604) 850-2325

Toll Free at 1-800-668-8661COMMERCIAL

DAVID KEARNEY [email protected] Free: 1-888-942-0606RE/MAX S ABRE REALTY

INDUSTRIAL WAREHOUSE/OFFICES

COQUITLAM High profile end unit off United Boulevard. 5000 square feet – 3500sf office, 1500 sf. warehouse 2 grade level doors. Leased until June 2012 – suits a User Occupant. $850,000 CLS#V4024075Call or email David!

PORT COQUITLAM

Rarely available – M-1 Industrial unit 1944 sq. ft.1044 sq. ft. footprint, 3 legally finished offices above$229,000 CLS#4026408 Call or email David

YOU GET WEALTHY BY STRATEGY

An example of this is, defer taxes annually into

commercial property and let it grow tax free!

YOU CAN LAUGH AT MONEY WORRIES – IF YOU FOLLOW THIS

SIMPLE PLANFort St John, Investment opportunity. Well kept up light Industrial building in Prospect Park close to Highway. Four years left on 5 year lease. Phase 1 and 2 available. 5 bays, offices on main and above with lunch room. Fenced yard with storage sheds. $1.1 Million (8.4% cap)

own this turnkey biz in Abbotsford. Sales of books and teacher supplies. Easy biz to learn and owner will train.

building in Dawson Creek, BC.

East BC

DEVELOPMENT SITECOQUITLAM For Commercial Ground Level, Apt or Office above 10,000 Sq. Ft. Lot. Busy location – 1665 Como Lake Avenue. Call or email David!

FOR SALE OR LEASE IN CHILLIWACK

Bob Plowright RE/MAX Bob Plowright Realty CHILLIWACK, BC 1-800-830-7175 - 604-858-7179 [email protected]

www.bobplowright.com

FOR SALE IN CHILLIWACK

2 LOTS - 1/2 ACRE EACH Zoned M-2 $339,000 EACH

1 LOT - 10.6 ACRES Dual Zoning M-3 & M-4

$4,850,000

1 to 20 Acre Development Lots

BRAND NEW RETAIL/COMMERCIAL STRATA 14 units to choose from Located on busy main road High visibility From 746 sq. ft. to 4,654 sq. ft.

Great opportunity for business owners and investors Get in at ground floor and pick your

spot today

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

BUILD TO SUIT

PROGRESS WAY INDUSTRIAL PARK BUY OR LEASE

Architecturally Controlled Fully Serviced Lots Will Build to Suit Independent or Strata

Warehouse for sale or Lease from 2,000 to 500,000 sq. ft. 20 Minutes to US

Sumas Border

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

2,843 sq. ft. 4 Bdrm Home 1 Acre zoned light industrial Zoned CD14 - Outside

Storage

INVESTOR ALERT

Mixed use 3,250 sq. ft. building 4 Bays with in floor radiant and

separate gas and electric meters Separate 3 bdrm, 2 bath home

SIMILAR

Lots are level with compacted gravel base Offering dual road frontage Manufacturing, distribution, outside

storage, warehousing, food processing, etc.

FOR LEASE IN CHILLIWACK

Well Located next to new Safeway Space available 850 to 7,000 sq ft On site parking and good access

Lease from $12-$13/sq ft.

On high traffic corner 806 to 1,900 sq. ft.

Well maintained building

Lease from

$6.50-$12/sq ft.

SALE $177,900

Office and/or retail space 4,450 sq. ft. air conditioned 9 private offices, reception etc.

Lease $9/sq ft.

LIVE/WORK PROPERTY LIVE/WORK OPPORTUNITY

SALE $689,900

SALE $1,244,000

Site profile available Fully Leased - current income

$4500/month gross Buy & develop for future profit

Fully Leased Commercial building with national tenant “Auto Glass Shop” New 3 yr lease with 3 yr option

Tenant has occupied for 15 yrs Easy access & great exposure Located on busy street 12,196 s. f. lot - 4,212 s. f. bldg

SALE $599,900

High profile location Easy access & great exposure Over 125’ of Frontage Land size 48,326 sq. ft.

SALE $649,900 INDUSTRIAL LAND

11,293 sq. ft. lot Retail and office space Located Downtown Chilliwack

SALE $925,000

Completely Renovated In Harrison Hot Springs 1,057 sf strata property

Fully leased - 7% CAP Tenant is an Eco Friendly

Salon

INVESTMENT PROPERTY

COMMERCIAL DEVELOPMENT SITE

FORECLOSURE PROPERTY Good street exposure Plenty of City Parking Renovated in 2007 8,563 sq. ft. building

RAY YENKANA CCIM, ABR

[email protected]

www.rayyenkana.com (listing details)RE/MAX LITTLE OAK REALTY

SUMMERLAND 57 ACRES4,800 sq. ft. superior craftsmanship home.$1,600,000

OFFICE FOR SALE Langley, BC

KEITH SETTER 604-533-3491

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

RE/MAX TREELAND

BUYER/TENANT REPRESENTATIONHave you done a proper Lease vs. Buy Analysis?Independent Representation for Buyers or TenantsHave your Commercial Professional source your requirements:Properties, Bylaw Compliance, Investment Analysis, Negotiations Call or email David! Your Agent works for YOU!

SPECTACULAR VIEW 36.4 ACRE PROPERTY – ABBOTSFORD

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

CALL ROY MUFFORD 604-533-3491

NEW PR

ICE

Garth Olson Re/Max Treeland Realty 604-533-3491 [email protected]

Future Industrial

$2.3M4.69 ac. 2 houses, 5000 + sq ft of shop. Potential monthly income: $6000. Location-location. 26713 56 Ave Langley

Special Zoning $1.99M

30 ac. 2 residences, Fort Langley. RU-5A. Multiple uses. Composting, soil preparation, sales (AG based) 25330 88 Ave Langley

Theatre for Sale $895,000

Active, well located in high traffic area. Multi-use possibil it ies. Land & bui lding. 285 seats, equipment included. Call for details.

For more information contact

Documents

Western Investor June 2011 Section A