western investor april 2012 section a
DESCRIPTION
Commercial Real Estate, Franchises and Business Opportunities in Western CanadaTRANSCRIPT
11 SOCIAL SITES
AS AN EPIC FAIL
Realtors wasting time seeking online payoff Robybn Hanson of Think! Social Media: many realtors are “contributing to the noise without adding any value”
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$4.29 APRIL 2012 Vol . 27 / Issue 4VANCOUVER • LOWER MAINLAND • VANCOUVER ISLAND SECTION
15 INVESTOR
DESTINATION
Red carpet rolls out in fast-growing Abbotsford
18 BIDS SEDUCEMETRO OWNERS
Even tightly-held port-folios in play as surging prices signal an ideal time to be cashing out
Build on the Power of Our Network. Over 350 Offices Worldwide.
Commercial Real Estate Services, Worldwide.
www.naicommercial.ca
Lease rate: $25/sf
Lease rate: $19/sf$3,500,000.00
FULLY FURNISHED OFFICEACROSS WILLOWBROOK SHOPPING MALL
FRONT UNITWEST WILLOW SHOPPING CENTRE
FOR SALE – RV SITE WITH BUSINESS 2.24 ACRES FOR DEVELOPMENT MULTIFAMILY/COMMERCIAL LANGLEY, BC $2,450,000
SK JEON 778-241-9981 [email protected]
GARY NIESNER DON MACDONALD 604-534-7974 or 1-800-890-9855
DON & ANGIE MACDONALD604-534-7974 or 1-800-890-9855
KEN KIERS OR KEN HICK * Personal Real Estate Corp.
KEN KIERS* 604-534-7974 [email protected] KIERS* or KEN HICK 604-534-7974 1-800-890-9855 [email protected]
Commercial/Industrial LandHighway 1 Access and ExposureFlood Hope Road, BC
Asking: Contact LIsting Broker
Vernon, BC
Reduced $3,250,000
Penticton, BC
Asking $2,850,000
SELF-STORAGE FACILITIES – FOR SALE
WE ARE YOUR SELF-STORAGE EXPERTS
200th Street
Highway #1 InterchangeSubject Property
MERRITT, BC OPPORTUNITIESHOT PRICE
Asking $699,000
SPLIT ZONING
Asking $2.95 Mil
3 LIGHT INDUSTRIAL LOTSAmazing price $69,900 ea.
FOR LEASE 8,459 SQ. FT. SHOWROOM & W/H $5.50 s.f. plus $2.50 s.f. T.N.
HALF ACRE C-3 SERVICE COMMERCIAL LOT Close to Wal-Mart. Only $199K
CHRIS LANGHAUG 604-534-7974 or 1-800-890-9855 [email protected]
DON ELLIS, RI 604-691-6668 [email protected]
COURT ORDERED SALE COQUITLAM
MULTI-TENANT COMMERCIAL BURNABY
ASKING $699,000 / $154 PSF
ASKING $2,350,000 / $175 PSF
11.4 ACRES DEV. LAND ADJACENT TO WAL-MART & HWY 5
$2.95 Mil
PUBLICATIONS MAIL AGREEMENT 40069240
RETURN UNDELIVERABLE CANADIAN ADDRESSES TO CIRCULATION DEPARTMENT:
102 EAST 4TH AVENUE, VANCOUVER, B.C. V5T 1G2
LIFESTYLE LIFESTYLE PROPERTIESPROPERTIES
SPECIAL SECTION • A22
WASHINGTON INVESTOR/BUILDERS ALERT!30 LOT SUBDIVISION IN MT. VERNON
Call Mike (604) 288-7473 For flyer see www.copacrealestate.com
First time on market in Mt. Vernon WashingtonCompleted plat of 30 lots - flat and ready to build on
For sale at 1.8 million (60,000 per lot)
A2 Lower Mainland www.westerninvestor.com APRIL 2012 WESTERN INVESTOR
* Personal Real Estate Corporation**Sean Ungemach is licensed with SBU Realty Advisors Ltd. and has a contractual relationship with Cushman & Wakefield Ltd.***Craig Haziza is licensed with CAH Realty Inc. and has a contractual relationship with Cushman & Wakefield Ltd.****Kevin Meikle is licensed with K.H.M.Realty Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. *****Bart Corbett is licensed with BG Corbett Realty Advisors Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, it is not guaranteed by Cushman & Wakefield.
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
CORNER PROPERTY, FREESTANDING BUILDING
LANDMARK WHISTLER INVESTMENT OPPORTUNITYGARFINKELS NIGHT CLUB
FREESTANDING BUILDINGIN MAPLE RIDGE
MULTIFAMILY DEVELOPMENT SITE
FOR SALE - MULTIFAMILY DEVELOPMENT SITE
COURTENAY
FOR SALE OR LEASEDOWNTOWN/COAL HARBOUR
STRATA UNIT
86.85 ACRE DEVELOPMENT SITE NOT IN ALR
IDEALLY LOCATED FREESTANDING BUILDING
NANAIMO DEVELOPMENTSITE
6 SEPARATE LEGAL TITLES TOTALLING OVER 116 ACRES
LANGLEY DEVELOPMENTSITE
DEVELOPMENT SITE - MULTIFAMILY
BURNABY MOTEL/DEVELOPMENT SITE
FOR SALE - RARE DOWNTOWN PROPERTY
WOOD LAKE DEVELOPMENT SITE
INN ON THE WATER, SQUAMISH
FOR SALE - NANAIMOLONG LAKE PLAZA
STRATA UNITS FOR SALE -HARBOURSIDE LANDING
FREESTANDING BUILDING ON HASTINGS STREET FOR SALE
FOR SALE - 63 ACRE INDUSTRIAL SITE
FREESTANDING OFFICE BUILDING FOR SALE
86,000 SF ON 9 ACRES IN PORT KELLS
±
TOWNHOUSE DEVELOPMENT SITE
10.18 ACRE INDUSTRIAL SITETILBURY BUSINESS PARK
MANNING PARK RESORT & SKI CENTRE
CANADA`S BEST VALUE WESTWARD INN
JAMESON HOUSE AAAOFFICE SPACE FOR SALE
FOR SALE - 65.53 ACRESCHETWYND
FOR SALE - 61 ROOM HOTEL WITH RESTAURANT
FOR SALE - HARRISON HIGHLANDS, KENT
FOR SALE - WILLOW CALE ROAD, PRINCE GEORGE
SMALL FREESTANDING INDUSTRIAL BUILDING -
METROTOWN
FOR SALE - FULLY LEASED FREESTANDING OFFICE
BUILDING
INVESTMENT/OWNER-USER OPPORTUNITY
FOR SALE - 32860 MISSION WAY, MISSION
50% LEASED
FOR SALE - HARRISON HOTSPRINGS
SOLD
ROGER LEGGATTMAX ZESSEL
CHRIS DRIVER*/ BRETT AURADON DUNCAN*
PETER GIBSON*
BILL HOBBS*
MICHAEL HARDYBRETT AURA
ERIC WALKERERNIE CORLETT
DON DUNCAN*
DAVID CANNINGBRAD NEWMAN-BENNETT
KYLE WILSONDAVID POTTINGER
HUDGE PARMAR*MARK GALLAGHER
BILL RANDALL*
KYLE WILSONCRAIG HAZIZA***
MARK TREPP*BOE IRAVANI
MARK GALLAGHER
RICK EASTMAN*
BILL RANDALL*
BILL RANDALL*
NIC GREEN/PHIL HEARN
ERNIE CORLETT
BILL HOBBS*
MARK GALLAGHERHUDGE PARMAR*
MAX ZESSELROGER LEGGATT
BILL RANDALL*
BILL RANDALL*NOAH FREEDMAN
RANDY SWANT*LEE G HESTER*
BILL RANDALL*
BRETT AURA
BRETT AURA CRAIG BALLANTYNE*
BILL RANDALL*
KYLE WILSONCRAIG HAZIZA***
PHILIP CHENG
BURTON VAN ALSTINE*HUDGE PARMAR*
BRETT AURA
DAG MEYER
BRETT AURA CRAIG BALLANTYNE*
ADAM FRIZZELL
COMMERCIAL/INDUSTRIAL
✓ ✓VALUE FOR $ GOOD RETURN ✓ TENANT COVENANT ✓ UPSIDE ✓ CAREFREE
CALL Don MunroSUTTON GROUP
WEST COAST REALTY
604-817-7338 [email protected]
COMMERCIAL/INDUSTRIALACREAGES ACREAGES ACREAGES
SURREY11151 Bolivar St & 13340 112 Ave $2,750,000
19518 32nd Avenue
LANGLEY 203-20771 Langley Bypass $750,000
SURREY/LANGLEY BORDER1 & 2 - 5492 Production Blvd
CHILLIWACK44085 Yale Road West
8495 Aitken Rd, 8565 Aitken Rd & 8579 Aitken Rd
8558 Chilliwack Mountain Road
44109 Yale Road West
256th Street & 48th Avenue
7437 253rd Street
7455 253rd Street
7700 240th Street
LANGLEY
6842 202B Avenue & 6868 202B Ave
3837 240th Street
48th Avenue & 216th Street
889 Lefeuvre Road
27691 Downes Road
CHILLIWACK
51140 Ruddock Road
7640 Nixon Road
700 Columbia Valley Road
Ron Bennett (USN Ret.) / Owner - Broker 1-360-671-9440 www.RonBennett.comRON BENNETT COMMERCIAL REAL ESTATE
For more information, call our office.
BELLINGHAMWATERFRONT INVESTMENT
$33,000,0003 new office buildings located on the waterfront in Bellingham. Long term triple net leases paid monthly with 3% annual increases. Yearly net income $2,393,947. Must see! For qualified buyers only, please.
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
FEATURES11 Many poke-around realtors just wasting their time
15 “Business-friendly” centre a new real estate hot spot
Download a PDF of all our Regional Roundups online at www.westerninvestor.com 18
Vendors see opportunity to cash out at high prices
COLUMNS6 20 27
On the coverRobyn Hanson of Think! Social Media in Yaletown: expert urges real estate agents to tap into neighbourhood sites.Photo: Richard Lam
2–21
8 21
22–27
LIFESTYLE PROPERTIES
A4 Lower Mainland www.westerninvestor.com APRIL 2012 WESTERN INVESTOR
PRIME CONDO SITE 4.4 - 8.8 acres with all services.
Great location in Surrey with views.
Surrey/Langley border at Willowbrook.
Walk to shopping, amenities and transit.
Email:
[email protected] info package
Ma c d o na l d C o m m e r c ia l Real Estate Ser vices Ltd.
3075 Willow, Vancouver
INDUSTRIAL STRATA UNITS, SURREY:
1275 W. 75th Ave, Vancouver
BOB SCRAGG 604.290.2906 | [email protected]
8369 RIVER WAY, VANCOUVER:
FOR SALE: INDUSTRIAL STRATA UNITS FOR SALE / LEASE : OFFICE BUIDLING
FOR SALE: RESTAURANT LAND & BUILDINGFOR SALE : INVESTMENT OPPORTUNIT Y
OFFICE BUILDING, BURNABY:
4856 48TH AVE, LADNER:
180 MAIN ST, VANCOUVER:
FOR SALE: WAREHOUSE/SHOWROOM/OFFICE
FOR SALE: 102 ACRES PRINCE GEORGE
27256 FRASER HW Y, ALDERGROVE:
FOR SALE: FREESTANDING BUILDING
ERIC POON / KELVIN LUK
RARE GOLF COURSE OPPORTUNIT Y FOR SALE | ERIC POON & KELVIN LUK
PRICE REDUCED
GARY KHAN
FOR SALE: KELOWNA GOLF RANGE - Land, building & business | GARY KHAN
FOR SALE: LITTLE MOUNTAIN CHILLIWACK - 59 Lot Subdivision | GARY KHAN
GARY KHAN
BRIAN TATTRIE GARY KHAN
COURT ORDERED SALES | BRIAN TATTRIE & GARY KHAN
FOR SALE: KITSILANO INVESTMENT | ERIC POON
ERIC POON
SOLD
PRICE REDUCED
BOB SCRAGG
GARY WEBB
GARY WEBB 604.714.4780 | www.rgarywebb.com
Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy,
and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.
Vancouver 604.736.5611Fraser Valley [email protected]
www.macdonaldcommercial.comSALES . LEASING . STRATA MANAGEMENT . PROPERTY MANAGEMENT
Westburn Realty
For More Information:
Contact: DEAN LAPOINTE at 604-617-8889 or email: [email protected]
www.mapleslangley.com
The "Maples" is strategically located in the heart of Langley on the rapidly growing 200th Street corridor with bus. parks/commercial dev. directly across from the Langley Events Centre, it offers major highway #1 connections with two bridges to Vancouver. The total development site has the potential of approx. 32 acres of land designated in the OCP for High Density Residential/Commercial featuring a "High Street" with shops, services, and multi-family housing including hi-rises.
METRO VANCOUVER HIGH DENSITY DEVELOPMENT SITE
Langley Events Centre
“We are focused on achieving the results YOU want.”
FOR SALE
Dexter Associates Realty Commercial Real Estate, Your Trusted Advisors
81,260 sq.ft. R&D
FOR LEASE 725 Eaton Way
Approx 9,200 sq ft warehouse with approx 3,800 sq ft offi ce space.
Attractive rates.
Larry or Kris 604-689-8226
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, train-ing, and conference facilities, in support of research and development in a number of key areas. OFFERS
Larry Traverence 604-787-7654
MAY BE LEASED.
CALL FOR DETAILS
NIGHT CLUB IN WHISTLER VILLAGE
Newly renovated, 2 level Night Club/Pub right in the heart of Whistler Village. $499k Call Kris or Larry for details.
1521 WEST 4TH AVECorner lot of 5,650 sq ft. Cash business
included. $2,475,000* Stage 2 Completed *
Call Larry Traverence 604-787-7654Kris Pope 604-318-5226
WANTED Investment property $500,000 to $1.500,000
with close to a 6+ cap, retail only, strata offi ce possible, Greater Vancouver or Kelowna, quick close for a good
property. Call Kris Pope 604-318-5226
YOUR PARTNER FOR SUCCESSFUL REAL ESTATE INVESTING
PROPERTY MANAGEMENT AND CONSULTING SERVICES FOR THE
LOWER MAINLAND AND FRASER VALLEY
SCOTT ETTLESDAYTIME 604 576 4407EVENING 604 724 1787
FORRES PACIFICPROPERTY
MANAGEMENT
WESTERN INVESTOR APRIL 2012 www.westerninvestor.com Lower Mainland A5
Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent verification. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 04/2012.
Tel: (604) 684 7117 www.dtzvancouver.com
For more information on our available properties and range
of commercial real estate services please contact us today.
PRIME DEVELOPMENT SITE
1396 Richards Street, Vancouver30,000 sq ft lot, 2/3 of a city block
DD-L1 zoning
150,000 sq ft buildable density
Operating business included with sale
Tom Bakker, James Bayley
DEVELOPMENT SITE
King George Blvd
13061 King George Boulevard, Surrey5.34 acre site
Residential/Industrial per OCP
Between Scott Road & Gateway stations
NEW PRICE!
Rand Thomson, Sebastian Espinosa
STRATA OFFICE SALE/LEASE
205 - 1742 West 2nd Avenue, Vancouver1,039 sq ft fully improved office space
Private storage
Jason Marriott
INDUSTRIAL SALE
NEW
LIS
TING
54370 Bridal Falls Road, Chilliwack14.165 acres
Development potential
Rand Thomson, Sebastian Espinosa
INVESTMENT OPPORTUNITY
Hume Ave
7464 Hume Avenue, Delta20,884 sq ft facility
0.92 acres of land
Fully leased
Single tenant
Anthony Lux, Casey Bell
STRATA UNIT FOR SALE
21320 Westminster Hwy, Richmond3,005 sq ft fully leased industrial strata unit
Approximately 19’ clear ceiling height
Lease expires February 28, 2015
Casey Bell, Anthony Lux
INDUSTRIAL SALE
2231 Vauxhall Place, Richmond13,638 sq ft freestanding building on
0.65 acres Concrete tilt-up construction
3 grade level loading doors
Casey Bell, Anthony Lux
RETAIL SALE/LEASE
906 Main Street, Vancouver4,314 sq ft on two levels
James Bayley, Meghan Kennedy
INDUSTRIAL SALE/LEASE
239–241 E. 1st Street, North VancouverPrime Lower Lonsdale location
9,600 sq ft building on 6,000 sq ft lot
4,800 sq ft available immediately
for sale or lease
Rand Thomson
INVESTMENT STRATA
1779–1799 Kingsway, Vancouver3,005 sq ft ground floor strata
osure corner location
$362 per sq ft
Fully leased until Dec 31, 2015
Conor Finucane
STRATA OFFICE SALE/LEASE
44%
SOLD
3410 Lougheed Highway, Vancouver552–6,696 sq ft
Attractive pricingQuality concrete office construction
Close to SkyTrain/Broadway Tech
Anthony Lux, Don Mussenden
INDUSTRIAL SALE
11871 Horseshoe Way, Richmond2,665 sq ft
dock level loading
Riverside Industrial Park
Casey Bell
INDUSTRIAL SALE
203 - 9875 192nd Street, Surrey1,760 sq ft
21’ high ceilings
Close proximity to amenities
Sebastian Espinosa
INDUSTRIAL SALE
226 - 17 Fawcett Road, Coquitlam2,920 sq ft unit
Tilt-up concrete construction
Air-conditioned offices
Grade loading
Steve Caldwell, Phil Gibbons
INDUSTRIAL SALE
1523 East Pender Street, Vancouver3,653 sq ft warehouse/office building
Enclosed secured parking
Mitch Ellis, Ryan Saunders
604.263.2823
APARTMENT BUILDING SPECIALIST
Plus many other listings! Please visit our website at www.billgooldrealty.com for more information.
43 Units/2 BuildingsClose to amenities
Gross Income $222,893
PORT ALBERNI
8 Unit Apartment BuildingPenthouse with views and decks
Gross Income $84,546
EAST VANCOUVER
36 Unit Apartment BuildingLarge, bright suites.
Gross Income $331,942
CLOVERDALE
8 Units/Cambie CorridorCompletely Renovated
Gross Income $122,892
WEST SIDE
11 Unit Apartment BuildingAll corner units, well maintained
Gross Income $109,534
WEST SIDE
21 Unit Apartment BuildingCompletely Renovated, Views
Gross Income $235,885
NEW WESTMINSTER
A6 Lower Mainland/Business Opportunities APRIL 2012 WESTERN INVESTOR
RAY LEWIS604-812-9733West Coast Realty
L A N G L E Y
C O M M E R C I A L B U I L D I N GA-1 maintenance.
Fraser Valley. 6 cap. Only $1,350,000
I N V E S T M E N T SVancouver: Hotel, shop, ctr. site, townhouse dev. prop., mixed use comm’l/res sitePort Moody: Strip mall. Langley: Motel, townhouse dev. site. Surrey: Central City comm’l. dev. site.
ROBERT THAM MARC SAUL Corbel Commercial Inc.www.corbelcommercial.com Tel: 604.609.0882 Fax: 604.609.0886 [email protected]
E. & O. E.: All information contained herein is from sources we deem reliable, and we have no reason to doubt its accuracy; however, no guarantee or responsibility is assumed thereof, and it shall not form any part of future contracts. Properties are submitted subject to errors and omissions and all information should be carefully verified. All measurements quoted herein are approximate.
350, 356 & 360 CARRALL ST. • EXCELLENT GASTOWN RETAIL UNITS • PRIME OWNER OCCUPIER/INVESTMENT OPPORTUNITIES • NEWLY RE-DEVELOPED MIXED-USE BUILDING • LARGE RETAIL DISPLAY WINDOWS • UNIT SIZE: APPROX 863.27 SF TO 1,808.34 SF (AS PER STRATA PLAN) • ZONING: HA - 2 LIST PRICE: FROM $325,000
57 E CORDOVA ST.• PREMIER GASTOWN MAIN LEVEL LIVE/WORK UNIT• EXCELLENT STREET FRONTAGE AND VISIBILITY• CHARACTER SPACE WITH BRICK AND BEAM• OVERSIZED WINDOWS FOR AMPLE NATURAL LIGHT• UNIT SIZE: 1,726.53 SF (APPROX)• ZONING: HA - 2 (HISTORIC GASTOWN AREA)LIST PRICE: $849,000
21 WATER ST. - THE PACKING HOUSE• SIX STOREY PLUS LOWER LEVEL, COMMERCIAL
OFFICE AND RETAIL BUILDING • PROMINENT CORNER GASTOWN LOCATION AT
WATER AND CARRALL ST.• CHARACTER INVESTMENT PROPERTY IN GASTOWN• LOT SIZE: 13,647 SF (APPROX)• ZONING: HA - 2 LIST PRICE: PLEASE CONTACT THE EXCLUSIVE LISTING AGENT
611 POWELL ST.• FREESTANDING LIGHT INDUSTRIAL BUILDING• OWNER OCCUPIER / POTENTIAL INVESTMENT
OPPORTUNITY• MAIN LEVEL PLUS BASEMENT STRUCTURE• EXCELLENT VISIBILITY ON POWELL ST.• LOT SIZE: 6,100 SF (APPROX)• ZONING: DEODLIST PRICE: $1,550,000
SOLD
SOLD
353 WATER ST.
SOLD
620 SEYMOUR ST. 678 E. HASTINGS ST.
SOLD
1-15 W. CORDOVA ST.
SOLD
33 W. PENDER ST. Development (3 CRU'S)
SOLD
SOLD
SOLDNEW
Publisher Cheryl Carter Editor Frank O’Brien Con-
tributing Writers Dave Husdal, Harry Jaako, Geoff Kirbyson, Glen Korstrom, Joel McKay, Peter Mitham, Kevan O’Brien Copy Editor Noa Glouberman Production Manager Rob Benac Production Natalie Reynolds, Tanya Van Advertising Sales Christine Campbell, Gary Takahashi, David Witherspoon Advertising Sales Coordinator Angela Foster Accounts Receivable Yvonne Posch Circulation Veera Irani, Newsstands Globe Distribution Services Printed in Canada at Kodiak. Western Investor is published monthly by BIV Media Limited Partnership VANCOUVER – HEAD OFFICE: 102 East 4th Avenue, Vancouver, B.C. V5T 1G2 Subscriptions and Advertising Sales Tel: 604-669-8500 Fax: 604-669-2154 Canada/U.S. toll-free: 1-800-661-6988. Canadian publications mail product sales agreement #40069240, GST #105655567. Copyright 2002. While every effort is made to ensure the accuracy of articles and advertising that appear in each edition of Western Investor, the publisher may not be held responsible for any errors or omissions that may from time to time occur. No part of this publication may be quoted or reprinted in any medium without the express written permission of BIV Media Limited Partnership.
ritish Columbia is often her-alded as the province that other Canadians want to move to. The mountains, the ocean, the relatively balmy
climate; the place where the flower count happens in Victoria while most everywhere west of the Rockies remains in a winter deep freeze.
Yet an amazing number of people are leaving B.C. and less are moving to “la la land.”
In fact, in the past year, the total number of other Canadians moving to B.C. would have fit on a city bus. For the first time in nearly a decade, B.C.’s interprovincial migration gains have melted into losses.
In 2010 to 2011, only 190 people, net, packed up and move to B.C. from the east. This compares with a net gain of in-migration of 8,700 a year earlier and more than 14,000 annually from 2006 to 2008, according to Statistics Canada.
What went wrong? B.C. still has the cli-mate and scenery and, barring Vancouver’s unique method of celebrating a Stanley Cup final, warm and welcoming people.
What B.C. doesn’t have are the high-paying job opportunities that can now be
found in Alberta and Saskatchewan, which is where most B.C. migrants are heading. In the past year, for instance, nearly half of the 4,000 B.C. residents who left the province went to Alberta.
We understand the lure. Last month in Calgary we had dinner with a group of young men who had left Vancouver to work in the Alberta oilpatch at Fort McMurray.
One, a 28-year-old electrician, received a $50,000 signing bonus when he started work. Both he and a friend, a fellow tradesman, expected to earn
$150,000 annually in Fort Mac, where the unemployment rate is near zero. Another young father, a journeyman millwright, claims he is earning $20,000 a month.
Would they come back to Vancouver? Not likely. As one said, “I can’t afford to buy a house in Vancouver on the wages they pay and the taxes they charge.”
Ian Cook, director of research and learning with the BC Human Resources Management Association, notes that many of B.C.’s best-paying jobs aren’t in Vancouver or Victoria but in rural areas of B.C. “It’s not like a choice of Vancouver and Calgary, but a choice between Calgary and Fort St. John.”
It is not likely that B.C.’s brawn and brain drain will end any time soon. Both Alberta and Saskatchewan are in the midst of a long-term resource boom and are posting the lowest jobless rates in the country.
Fortunately for Vancouver, B.C. is still attracting immigrants, the vast majority of whom settle in major metro markets. But even here there are indications that skilled immigrants may arrive in Vancouver at first, then move east for employment.
How does B.C. reverse the population exodus? It starts with encouraging resource jobs – like approval of northern pipelines and mining – and cutting red tape and taxes that stunt business development. The latest migration numbers are a wakeup call that B.C. must be more than just a pretty face.
Western Investor takes a close look at recre-ational real estate. We tour the fast-chang-ing U.S. housing scene. We continue our Investing 101 series, and our regional report-ers file from Campbell River, the central Okanagan, Medicine Hat and Saskatoon.
FRANK O’BRIENEDITOR
ADVERTISING DEADLINE MAY 2012 issue:
April 16, 2012
WESTERN INVESTOR APRIL 2012 www.westerninvestor.com Lower Mainland A7
For more information visit our website www.avisonyoung.comVancouver Offi ce 604 6877331
FEATURED LISTINGFOR SALE – Dollarton Business Park - 197 Forester Street, North Vancouver
FOR LEASE – 11125 124th Street, Surrey FOR SALE – 9781 186th Street, Surrey
SOLD – HIGH EXPOSURE RETAIL INVESTMENT689 Denman Street, Vancouver
FOR SALE – Pacifi c Colonade – 11965 Fraser St., Maple Ridge
Avison Young Commercial Real Estate (B.C.) Inc.
FOR SALE – 2342 Windsor Street, Abbotsford
40% LEASED
FOR SALE – Washington Apartments – Courtenay, BC
FOR SALE – Abbotsford Industrial Land
FOR LEASE – Merchant Square, 1 Eighth St (@ Columbia St), New Westminster
FOR LEASE – CANADA WAY BUSINESS PARK
FOR SALE – 9532 194A Street, Surrey
PRICE
REDUCED
SOLD – 535 Yates Street, Victoria
FOR SALE – 13056 114th Avenue, Surrey
•
UNDER
CONTRACT
FOR SALE – 144 Lonsdale AvenueFOR SALE – Investment Development Opportunity Pantec Mini Storage - Bellingham, Washington
FOR SALE – 2405 – 2427 Crescent Way, Abbotsford
SOLD – Redevelopment Site - 6600 – 6700 No.3 Rd, Richmond
PRE-LEASING – NorthWoods Business Park, N. Vancouver
FOR SALE – 701 East Cordova Street, Vancouver
FOR SALE – Village Square, Bowen Island
FOR LEASE – Capilano Business Park, N. Vancouver
UNDER
CONTRACT
SOLD
SOLD
SOLD
FOR SALE/LEASE – 1455-1475 East Georgia Street, Vancouver W
PRICE
REDUCED
FOR SALE – 1102 Commercial Drive, Vancouver
A8 Lower Mainland/Services www.westerninvestor.com APRIL 2012 WESTERN INVESTOR
FUTURE POTENTIALwith 33’ x 122’INDUSTRIAL LOTIn Maillardville area of Coquitlam
Asking $428,900
Zoned: M1 General Industrial allowing for Industrial Storage and Residential use.
Complete the renovation for potential income of $3000/month
Future development, as described on Coquitlam’s Offi cial Community Plan allows for a residential & commercial development when assembled with lot to east allowing +/- 3 stories, a total potential development of 3.5 X’s the lot size.
Good future potential!
Call
BILL BABCOCK 604-230-9392
$9 MILLION.
$1.59 MILLION.
$5.5 MILLION.
$119,000. $400k PER YEAR SALES.
$6 MILLION.
Junior Kindergarten, 5000 – 8000 sq. ft. Furniture, 8000 sq. ft. downtown Vancouver.
. International News, 300 – 1000 s.f.
Michael Anderson 604.374.1171
Matt Gratton 778.554.9100
Brian D. Kennedy 604-331-2211
BRITISH COLUMBIA REGION
Jonathan P. Wong 604-331-2218
PRAIRIE REGION
Dennis K. Aitken 403-205-8203
For all your real estate financing needswww.peoplestrust.com
MORTGAGE FINANCING
Daniel Stewart 403-205-8202
COMMERCIALMORTGAGES
ALSO: Industrial, Multi-Residential & Construction
LEAKY CONDOFINANCING
Full Building Repairs, Upgrades & Remediation
BUSINESS LOANSAcquisitions, Expansion, Equipment & A/R
604-552-4392www.paramountfinancial.biz
Marking our 15th YEAR in business !
FOR ALL TYPES OF COMMERCIAL PROPERTY:
The Origin Group — Mike Lee
604-565-63701-877-848-6370
RoaronConstruction“Your One Stop Shop”
Call Now 604-888-7818or Email [email protected]
Terry A Young 604-970-38081-800-665-1455
[email protected] RE/MAX Crest Realty
HEALTH FOOD STORE Downtown Vancouver, BC
Grossing $700K. High CAP RateOwner Operated for 30 Years
Providing all health products. www.TerryYoungHomes.com.
CARIBOO RANCH FOR SALEHistoric 100 Year Family Owned
Cattle, Forestry, Equestrian4,633 Acres-Fully Fenced Well Cared For
Close to Highway, Airport & RailwayClose to Schools, Shopping, Community
www.BridgeCreekRanchforsale.com
WESTERN INVESTOR APRIL 2012 www.westerninvestor.com A9
PETER SEED604-691-6608
KELOWNA$11,750,000
QUESNEL$144,500 $2.1 M
PRINCE GEORGE$4,250,000
GRAND PRAIRIE$130,000
PRINCE GEORGE$2.8 M
PRINCE GEORGE$12,500,000
PRINCE GEORGE
SUNCOR / MCDONALDS DISP
RAMADA VALEMOUNT
WILLIAMS LAKE
QUESNEL
$6,000,000
Waterfront Pub & Detached Liquor Store
Land, buildings and businessPrince Rupert, BC $2,500,000
BC’s fastest growing super port city
JOHN JOHNSON
JOHN JOHNSONTel: 604-319-2504Fax: 604-463-5287
PRUDENTIAL STERLING REALTY LTD.
For Lower Mainland Pub Opportunities call:
SOUTH OKANAGAN PUB Liquor Store and Building for sale Asking $1,450,000
LOWER MAINLAND Pub & Liquor Store
Opportunities
P U B SFor Sale
Restaurant For SaleCoppertank Grill
3835 Main StNewer restaurant,
sports bar, 96 Seats, live music venue.Long term lease.
Asking $289,000
For more details: Success Realty & Insurance Ltd.
JORDAN ENG (604) 728-0883 [email protected]
WE HAVE BUYERS FOR YOUR PROPERTY "BUY-SELL-DEAL
WITH SUCCESS"
SPECIALIZING IN COMMERCIAL INVESTMENT SALES FOR OVER 23 YEARS
SOLD
SOLD
Strategic Investment
Chinatown Investment Prop416 Main Street
138 East PenderExcellent Chinatown location.
Previous bank building. Ready for design renovation.
Asking $1,400,000
Prime investment opp. Ext. renovations. New 5 year lease to experienced bakery.
Large 3 bdrm suite.Asking $1,680,000
SOLD
NEW LISTING
4363 Main St (at 27th)
High Traffic Retail Location
Lonsdale Ave, North Van. Income property, 4 stores, underground parking
Asking $4,150,000Growth potential in emerging area. High exposure & foot traffic.
Established tenantAsking $1,200,000
early two million square feet of discount shopping is about to arise in Metro Vancouver as Europe’s
largest outlet mall developer and a Canadian retail giant square off in the southwest.
In Richmond, London-based McArthurGlen Group is planning a 340,000-square-foot mall on a 30-acre site next to Vancouver International Airport (YVR).
Further south in South Delta, Toronto-based Ivanhoe Cambridge is proceeding with the 1.2-million-square-foot Tsawwassen Mills, which will anchor the biggest shopping com-plex in British Columbia.
Both centres will be discount-themed malls, bringing U.S.-style factory outlet retail to B.C. for the first time.
McArthurGlen’s proposed mall would be off Russ Baker Way on Sea Island on federal government land leased by the airport author-ity. The airport, including the Russ Baker Way site, is within the traditional territory of the Musqueam First Nation.
“We hope to make an official announcement in the next few months,” said Lara Gerrits, who confirmed McArthurGlen and the airport authority are now working toward finalizing the joint-venture deal.
Gerrits declined to reveal details of the pro-posed mall, but McArthurGlen CEO Gary Bond told the International Council of Shopping Centres’ newsletter Value Retail News (VRN) that he wants construction to start in the second half of this year and be completed by 2014.
“The advantage of Vancouver is that there is no outlet competition,” he told the newsletter.
“Vancouver offers a fantastic opportunity in terms of the partner, the catchment, the loca-tion, the economic strength of Vancouver and the tourism potential, in particular as the gate-
way to the Asian consumer.”McArthurGlen has no staff in Vancouver,
but Bond said the company plans to build a Vancouver team. His company has developed 20 outlet centres in eight European countries, and the Vancouver mall will likely have similar tenants and design.
Some of McArthurGlen’s European malls are known for luxury brands like Hugo Boss, Prada and Calvin Klein, and retail industry insiders expect that the Vancouver mall will have a similar tenant mix.
“The proposal has gone under the radar quite effectively,” said Colliers International retail specialist James Smerdon.
Smerdon helped McArthurGlen respond to a YVR request for proposals to build a retail facility.
He said that part of McArthurGlen’s ratio-nale for building the mall in Vancouver is that the city has fewer square feet of retail space per capita than Toronto.
Smerdon’s statistics show that Toronto has 24.11 square feet of mall and power centre retail space per person compared with 13.73 square feet in Vancouver.
That disparity will shrink when two new Tsawwassen malls open in 2015. Ivanhoe Cambridge plans to build the 1.2-million-square-foot enclosed Tsawwassen Mills adjacent to Property Development Group’s 600,000-square-foot Tsawwassen Commons. Together, they will form B.C.’s largest shop-ping complex.
Tsawwassen Mills, modelled after Ivanhoe Cambridge’s 32-acre Cross Iron Mills north of Calgary, will be squarely aimed at the discount consumer. “About 50 per cent of the retail in our centre will be outlet or value-priced,” said Ivanhoe Cambridge vice-president of new development John Scott.
“Discount retail is certainly something that functions well in any economy. People are
FEATURE Leading developers introduce discount factory outlets to anchor new Metro shopping centres
GLEN KORSTOM/WI STAFF
WESTERN INVESTOR
looking for value.”Successful mall developer and Aberdeen
Centre owner Thomas Fung believes Scott’s strategy is sound. “Discount merchandise is greatly in need in the Greater Vancouver area, as long as the goods are practical and durable and the store has a welcoming atmosphere and comfortable ambience,” said Fung.
Fung pointed to a dollar store tenant in his Aberdeen Centre, Daiso, which sells nearly $1 million worth of merchandise monthly. That is an example of how attractive low-cost retailing can be, he said.
Fung’s own fashion-based Price Just 4 U, also in Aberdeen Centre, is likely a better example of the kind of low-cost retailing that will go on at Tsawwassen Mills, however.
So-called “factory outlet” stores tend to sell brand-name clothing at reduced prices and are run by the manufacturers that produce Reebok, Tommy Hilfiger and the Gap fashions.
To balance the project, the smaller Tsawwassen Commons will not have outlet stores.
Instead, Property Development Group founder and chair Lawrence Rank said it will have three large anchor tenants that will likely include a home-improvement store and an electronics store, as well as 30 to 40 smaller stores.
Thomas Consultants managing principal and retail consultant Michael Penalosa agreed. “There’s opportunity for another regional mall in the Lower Mainland,” Penalosa said.
Low vacancy rates at major malls across Metro Vancouver leave few options for large American retailers who want to lease larger footprints, he said. And, while high-end retail-ers rumoured to be thinking about expanding into Metro Vancouver, such as Nordstrom, are likely to locate closer to the urban centre, oth-ers are likely to consider opening in a suburban mega-mall.
Both Penalosa and Scott believe the Tsawwassen shopping centre will be a desti-nation for shoppers, because Canadians flockto U.S. outlet malls such as Seattle PremiumOutlets in Tulalip, Washington.
Existing Tsawwassen retailers fluctuatebetween being in denial and being scared thatthe mall will force them out of business.
Many did not see this development coming, given that the 180-acre site was part of the agri-cultural land reserve.
The mega-mall will undoubtedly have some impact on current retailers, even those in whatare now community-based strip malls like the124,000-square-foot Tsawwassen Town Centre Mall.
“It’s not a matter of whether it will impact our retailers,” said David Laulainen, Town Centre Mall’s director of communications and business development. “It’s to what degree will it affect us.”◆
Ivanhoe Cambridge’s Tsawwassen Mills in South Delta will be modelled on its Cross Iron mall near Calgary, shown here, which boasts 32 acres under one roof.
Phot
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A10 Lower Mainland www.westerninvestor.com APRIL 2012 WESTERN INVESTOR
RESTAURANT BUSINESS
RE/MAX NYDA
REALTY
JANET KIRKPATRICKT F: 1-800-830-7175 Tel: 604-858-7179 Fax: 604 858 7197
Rare opportunity! First time offered, Owners
retiring after 22 years!
This 120+ seat restaurant is truly one of Chilliwack's most respected & renowned family dining destinations. Iconic visual exposure in the heart of town w/no franchise fees. Well established w/reasonable lease rate makes this turn-key operation perfect for a family-run venture or the budding entrepreneur.
Bring your ideas & dreams and call Janet Kirkpatrick
today for details.
C H I L L I W A C K , B C
Call GARY FRAIPONT 604-466-2838RE/MAX LIFESTYLES Realty
MISSION SILVER CREEK INDUSTRIAL PARK
FOR LEASE!
View our Virtual Tours: www.rltylink.com
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FRAIPONT & MANYK [email protected]@rltylink.com bus: 604.466.2838
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Cell: [email protected]
www.expertrealty.ca
Please call RICHARD PODGURSKI
MOTEL 30 rooms well established, good location, building in excellent condition. $1,165,000
GAS STATION, building land equipment included, all updated 3.5 ac land 5 legal lots. Additional buildings on the properties. $1,288,000
RESTAURANT, 27 years in business. Building, land and equipment included $800,000
WHOLESALE BUSINESS VANCOUVER, over 35 years in operation, good location, handling many exclusive products. $48,000 plus stock
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 ... $139,900, $297,800 - $488,800
Steamrollers Franchise Available Steamrollers Franchise Vancouver .$319K (Davie St.)
Wired Monk Individual Franchise Opportunity Wired Monk ......................................... $99K, $169K,
Wired Monk New Franchises - Vancouver ................................ $262K-$350K depending on location
Sandwich Tree master franchise opportunity $235K
Casa Del Sole Café ...............................................$169,000
RETAIL OFFICE SPACEUnits # 102 & #103 - 7445 120th St Delta, BC
MIKE SIDHU 604-831-2500 RE/MAX Performance Realty
102 1125 sq.ft. MLS® #F3200369 $459,000 103 1231 sq.ft. MLS® #F3200298 $439,000
Each office is independently owned and operated.
Each office is independently owned and operated.
IAIN MACDONELL (604) 328-3929
WWW.MACDONELLS.COMRE/MAX SELECT
PROPERTIES
Q U E S N E L , B CRestaurant - 5000 sq. ft.
Sales of $1.45M per annumExisting franchise restaurant
New owner may opt out of the franchise.
Priced for immediate sale! $100,000
IAIN MACDONELL (604) 328-3929
WWW.MACDONELLS.COMRE/MAX SELECT
PROPERTIES
PROFITABLE, SUCCESSFUL, ESTABLISHED
FAMILY OWNED BUSINESS specializing in take-out
PIZZA and PASTA PRODUCTS
Sales increasing daily!
Offered at $595,000
LITTLE OAK REALTY"All offices independently owned and operated"
Call Ray or Richard for all of your Real Estate Needs!email us at [email protected]
1-800-668-8661RESIDENTIAL, COMMERCIAL, INVESTMENT & AGRICULTURE
Ray Veenbaas 604 309 0257
Richard Riemersma 604 309 8541
Little Oak Realty
TF 1-800-668-8661 #9–2630 Bourquin W., Abbotsford "EACH OFFICE INDEPENDENTLY OWNED & OPERATED"
FEATURED PROPERTY BUSINESS OPPORTUNITIESINVESTMENT & REVENUEWee Chippie Fish & Chips In business for 23 years SOLD
Steak & Seafood Restaurant $189,900
Thai Restaurant – Most popular in town $188,888
Franchise Restaurant (Comes with a 12,000 sq. ft. Banquet Facility) $425,000
Full Service Catering Kitchen w/ Industrial café $599,000
NEW WESTMINSTER STORE FRONTRoyal Columbian Hospital
Showing $32,000/Annual Net Income/yr. Asking $559,900
MULTI-TENANT OFFICE BUILDING12 TENANTS, STABLE INCOME
Asking $988,000
STAND-ALONE RESTAURANTBuilding with profitable Asian Food
tenant. Completely updatedAsking $799,000
MULTI-TENANT BUILDING WITH 11 TENANTS
Yielding $120,000 Fully Net IncomeAsking $2,425,000
DEVELOPMENT SITE SMALL WAREHOUSES
B.C's Best Hotel Deal!!!
33 ROOMS, RESTAURANT
& PUB$699,000
98 UNIT MULTI-FAMILY SITEClose to shopping centres, hospital,
recreation and lake side walking trailsAsking $2,900,000
730 sq. ft. (secure, gated) $119,9001063 sq. ft. + 450 sf mezz. $179,9002,000 sq. ft suitable for growing medical marijuana $224,900
WESTERN INVESTOR APRIL 2012 www.westerninvestor.com A11
COVER Unless real estate pros get smart with it most are just “adding to the noise” without adding value
Please see “Big spam” page A12
PETER MITHAM
WESTERN INVESTOR
se mobile to close the gap between emotion and expe-rience.”
That’s the message Rick Bakas of San Francisco-based Bakas Media delivers when addressing industry groups keen to leverage social media and the dramatic shift to mobile-phone use across North America for marketing and commerce.
With communications increasingly going mobile and tablets displacing desktop comput-ers, Bakas urges companies to have a social media strategy even if it’s as simple as a page where people who use mobile devices can land and learn more about your winery.
In many ways, it’s not unlike 15 years ago when companies wondered whether or not a web page was important. As Bakas told a recent social media symposium in Vancouver: if consumers are there, companies should be there, too.
But closing the gap between emotion and experience means building relationships – not an easy task for companies selling real estate, typically a long-term investment rather than a consumable like wine, coffee or analgesics designed to soothe aging, aching joints. People may consider a neighbourhood a desirable place to be or to invest, but the choice isn’t something they consider every day; they just live with it, focusing instead on elements with-in the community.
Robyn Hanson, senior community manager at Think! Social Media in Yaletown, said Metro Vancouver is home to plenty of neighbour-hood bloggers touting the attributes of their local communities. Many social media-savvy residents use Foursquare and other applica-
tions to let others know where they’re at, which services they’re using, and to leave tips and reviews for others. Real estate bloggers haven’t leveraged the power of these applications to become “neighbourhood ambassadors” (as Hanson calls them), however.
“No real estate agents are in there taking advantage of those opportunities. It’s mostly just other locals,” she said.
The absence reflects issues Hanson saw as a consultant two years ago, just as real estate agents began embracing social media. Hanson was often contracted to instruct companies how to use social media effectively.
“[Realtors] would be using, say, Twitter or a blog to advertise their listing or their open houses,” she explained. “They weren’t look-ing at it as an opportunity to showcase being a neighbourhood ambassador or an expert on a particular area, such as Vancouver. They were adding to the noise but they weren’t actually
adding any value.”Real estate agents needed to make the shift
from traditional, one-way, broadcast commu-nication channels to the polyphonous channels social media offered. Online relationship-building was becoming more sophisticated, too, in tandem with the effectiveness of spam filters and dropping effectiveness of banner ads. (Bakas points out that click-through rates have plummeted from upward of 70 per cent a decade ago to a mere 1 per cent to 3 per cent today. Some online experts say the click rates are now even lower than 1 per cent.)
Vancouver real estate agent Ian Watt, who regularly addressed real estate conferences three years ago regarding his groundbreaking video blog, is among agents that recognized and have taken steps to respond to the shift.
“I went gung-ho, and then I pulled back. People just have this block up regarding selling online,” he said. “Social media’s not dead but
Robyn Hanson, senior community manager at Think! Social Media in Yaletown: realtors slow to recognize the opportunities of connecting with a neighbourhood.
Phot
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Here are five effective social media tactics for real estate agents:
1. Property Search tool with a Facebook Page: This technique allows visitors to search your available prop-erties right from your Facebook page. A fundamental aspect of any realtor’s website is the property search tool, so it makes sense to allow custom-ers to use this tool without leaving Facebook.
2. Youtube Channel: Youtube Channels can be powerful if done professionally. The Geo Location function uses your computer’s IP address to pinpoint your whereabouts, then displays the most rele-vant videos in your channel (for example, your latest real estate video tour).
3. Youtube App for Facebook Page: Get a Youtube app for your Facebook page. Everything you upload to your Youtube Channel will automatically be fed to your Facebook page, making it easy for visitors to view your clients’ properties.
4. Geo Location Keyword Search: Tools like Hootsuite have this fantas-tic feature that allows you to keyword search for potentially prime customers who are looking for property in a par-ticular area.
5. Linkedin to Find Clients: LinkedIn will help you find landlords, property developers, home-builders, etc., so that you can rent or sell those properties on their behalf.
– Mark Paddock,social media marketing consultant and trainer
getprosocial.com
F O R S A L E
Alex Yuen (PREC)
INDUSTRIAL PROPERTY DELTA, BCI I ZONE, 11,680 SF BUILDING ON ½ ACRE...................................................$1.699M
SEYMOUR RESTAURANT FOR SALE 2400 SF .................................................. $480,000
WEST 4TH AVE RESTAURANT FOR SALE 2000 SF ...................................... $460,000
WEST 4 AVE RESTAURANT FOR SALE 1800 SF .................................................. $250,000
LASER & ESTHETIC BUSINESS FOR SALEGREAT REVENUE, MINIMAL MANAGEMENT .................................................. $120,000
SUB LEASE 3400 SF 61 WEST 7TH AVE ........................... $11.25/SF + OPERATING
CAUFEILD SHOPPING CENTRE RESTAURANT ................................ NEW PRICE $325,000
DEVELOPMENT SITE VICTORIA FOR SALE 1.74 ACRE 168 UNITS ...................$12.95M
2 LIQUOR STORES FOR SALESALES $4M & $2.7M .....CALL FOR DETAILS
2 LIQUOR PRIMARIES DOWNTOWN VANCOUVER . PRICED $1.1M & $1.8M
Dir: 604.338.1800 Off: [email protected]
A12 Lower Mainland www.westerninvestor.com APRIL 2012 WESTERN INVESTOR
Your specialist in PRIME income-generating and redevelopment opportunities:
www.danpreston.caPersonal Real Estate Corporation
C O M M E R C I A L R E A L E S T A T E S E R V I C E S
30 ACRES Residential Mountain Top44 Estate Homes - $5.5M
SENIOR'S DEVELOPMENT SITE SALE: $1,990,000
Foundation in place, tendered plans, permits, ready to complete. 88 units.
City hall tax audit of $1m+.
NEW WEST/BURNABY MIXED DEVELOPMENT39 Apartment Units, 7 Townhouse Units$2,850,000 OCP & Area approved plan.Joint Venture Opportunities Considered.
NEED NOW!!! $5 - $15 MILLION SHOPPING CENTRES
BUY IN CHILLIWACK
NOW IS THE TIME!
LAND ONLYBUSINESS FOR SALE GEM BLASTING
GauthierTeam.comLindsey Gauthier Personal Real Estate Corp.showplace realty ltd.
Lindsey GauthierPersonal Real Estate Corporation [email protected]
604-798-2977
7870 ENTERPRISE WAYJust Collect the Rent!!! Building approx. 5 years old, 12,566 sqft Building, 31,279 sqft Lot. Busy industrial area of Chilliwack close to the new Eagle Landing and Hwy exposure. Well maintained. PRICED TO SELL! HARD TO FIND PROPERTY!!! $2,125,000 Exclusive Listing
AUTO RECYCLER BUSINESS Gold class certifi ed ................Auto recyclers for sale here is the opportunity to own one of the fastest grow-ing in the greater lower mainland. very rare and hard to fi nd a well established turn key auto recyclers that been in business for over 25 years ! Time has come to retire ! Large inventory of high end salvage and a customer data base of over 3000 customers you will recieve all inventory building,racking property with a 49 year lease and 3 acres of land. $2,200,000 Exclusive Listing
In the same location for 20 years specializing in supe-rior quality blasting , better alternative to sand blasting & acid dipping . Asset sale – equipment and steady clientele. Owner retiring. New Listing $65,900
8989 CHARLES STREET M2 ZONING1.58 Acres of M2 zoned property, best suited for in-dustry and industrial sales activity. House already on the property which is perfect for a rental income or of-fi ce for your business. Prime area with lots of room to build. Possibilities are endless with this property with road frontage, rail spur, and located in town. MLS® H3120026 $1,250,000
LEASE SPACE AVAILABLE $18-$19.5016,640 sq.ft. Strip Mall on the busiest street in Chilliwack - completely renovated w/ new addition & façade. Excel-lent traffi c count, great exposure & visibility from road. 78 surface parking stalls w/ mall access from Yale Road. Available for lease $18-$19.50 per sq.ft., 5,866 & 5,802 & 1553 sq.ft. Able to make smaller units if request-ed. Building & Property also for Sale. Building can be stratifi ed – sold in 1 or 3 units. Sale Price: $3,950,000
MLS® H3100324
CROSS COUNTRY GROCERYBuilding and Land includes 2 Businesses. Store is excellent for mom and pop or family operation, well established clientele, very clean business. Business includes Grocery Store, Gym, Tanning and bare lot. 2 titles to the property, and the business! Awesome Deal! Call for Complete Details, and package. $569,000 MLS® H3100373
REDUCED
8424 AITKEN ROAD Rare fi nd!!! 14.685 Acres of undeveloped land, next to the railway tracks. Good access to Trans Canada Highway #1. The zoning is currently M4 (Heavy Industrial Zoning) - allows for Warehousing, Heavy Industrial, Storage & much more. Municipal water & sanitary services are at the road, fl exible zoning. Strong development activity around Highway 1 Business Park, Progress Way Business Park and Cattermole Industrial Estates.$3,600,000 Exclusive Listing
44703 YALE RD/44698 CHALMER PLACEM2 ZONING 1.66 acres in 2 titles, zoned M2 (Service Industrial) in absolutely prime location. Highway 1 exposure, access of Yale Rd. or Chalmer Place (cul-de-sac). Set in the heart of the Industrial area with easy access to the City and national transportation routes. Zoning allows for wide variety of uses including warehousing, light manufacturing, food processing, sales, and more. Offered at a highly competitive price of approx. $25 per sq.ft. THIS IS A GREAT DEAL!
$1,799,900 MLS® H3100190
Priced to Sell!!
45787 YALE ROADPerfect for your building supply, glass company, or retail business. Building is over 12,000 sq.ft. and has new siding, new windows, and a new elevator. Downstairs is 6,147 sq.ft. and has a large showroom, offi ces, and upstairs has 4 leased tenants in offi c-es. Parking on a fenced .935 acre lot. This property was appraised at 2.2 million. Vendor is a motivated Seller. $1,750,000 MLS® H3100328
MECHANIC SHOP In Chilliwack Established Automo-tive Shop Business, Land & Building for sale in busy area of Chilliwack. Great Cli-
entele, Superior Location, and Fantastic Exposure. This is a great investment, and a great Business to take over. This is a money making deal. C2 Zon-ing! This is a large Freestanding Building with 7 Bays, Modern Clean Building with tons of parking. The building is over 5,000 square feet with 2 fl oors. Call Lindsey for more information. $1,650,000 Exclusive Listing.
NEW LISTING
45955 & 45961 Yale Rd. Body Building 11,992 sq.ft. Land 1.001 Acres GREAT FOR CAR LOT! 5 Bays, Showroom, offi ces, Great Ex-posure with lots of parking in this area of town. So much potential with this property, to many to list. The lots are zoned CS1(Service Commercial).
Call Lindsey for additional info 604-798-2977 $1,850,000 Exclusive Listing
CLEVELAND Just collect the rent on this 3 bedroom, and 4 one bedroom apartment. The building is close to bus routes, and all the amenities. It is a 2 story multi-family apartment with a full unfi nished basement. Parking located in the back of the building, and the building has lots of updates. This is a must see property, and a great investment for the experience or new investor. MLS® H3100371 $459,000
DAKOTAS – Approx. 4 years old Going Concern in busy Shopping Center with Safeway, Liquor Store, HSBC, & Envision Bank. This Restau-rant is gorgeous! 5,605 leasable space. Includes all chattels. Over $800,000 in tenant improvements. If you are looking for a restaurant this has EXCEL-LENT VALUE. Good customer base, asset sale only, you would never be able to build this restaurant for any-where near this price. $199,000 MLS® H3100137
Car Dealership Location!
from A11the use of it to sell a product or service is.”
Twitter was the turning point for Watt, who added the tool to his social media endeavours but then turned his back on it – and approxi-mately 3,000 followers – a year ago.
“I felt like the novelty had worn off, and all those people were on Facebook anyway,” he said, saying Twitter has become “a big spam.”
Now if he has good information he puts a link out on Facebook, where ongoing relation-ships can be maintained and cultivated with a select group of people without the need for a steady stream of information or pitches that occurs on Twitter.
“My clients, who I always friend, will know I’m in real estate,” he said. “But I do not do it to sell anything. ... [Social media] is peoples’ private areas, and you have to respect that. I tend to unfriend people now who just tend to shove crap down my throat – especially rental agents.”
Cultivating long-term relationships is more difficult for developers with relatively short horizons for marketing and selling projects. Sales windows might be 10 months – about the same amount of time it takes for a successful social media campaign to gain traction.
This is where MAC Marketing Solutions Inc. has sought to build a reputation for itself rath-er than individual projects, forging links with
agents in the market so that any projects it takes on benefit from its own reputation.
“We’re focused on trying to build an audience that’s interested in listening to a voice that’s an authority on real estate,” said Cameron McNeill, principal of MAC. “The lifespan of a real estate project is finite and to develop an audience takes a lot of time. We find that we have an advantage, that it’s more of a corporate relationship than a project relationship.”
Defining the payback is something else, however. MAC has two people sharing respon-
sibilities for what is effectively a single full-time position: overseeing the firm’s social media activities. Staff members directing efforts on each of the firm’s projects also feed content into the social media arena for each new development.
McNeill candidly admits that the actual payback on the efforts is difficult to track; he prefers to say the firm has simply responded to the changing environment and channelled its efforts into each new area.
“We’re touching our customers five to 10 times before they make a decision to purchase,” he said. “It does help create a groundswell, and it does help spread the word.”
Social media is best deployed as a tacti-
cal tool to cultivate interest and awareness ofprojects before sales actually begin, if David Allison’s experience is any indication.
A principal of Vancouver marketing firmBraun/Allison, Allison frequently hears devel-opers tell him that social media isn’t workingas well for them as they might like.
“But if we use these as tactics that actually have a strategy behind them then they start toget really, really interesting,” he said.
Some are confused as new services start up,such as Pinterest, a new online pinboard that
is already ranked No. 62 in web traffic,but which most developers have likelynever heard of.
It’s a similar story for the tide ofsmartphone apps laying the foundationfor what Bakas and others anticipate will be a mobile commerce revolution
in 2014. Half of all online activity is through mobile devices, from smartphones to tablets, which not only allow people to tell their socialnetworks where they are and what they’re see-ing but also to click QR codes – the mottled square codes that are growing in presence – todiscover more about products and places.
“If you put a QR code on your [showroom]door it gives people a link on their phone that takes them to some photos and pricing andavailability information,” Allison said, notingthat it gives people something to explore evenwhen staff members aren’t available.
“Perhaps you’ll do a better job of getting them to return, rather than having them justface a blank door.”◆
“Social media’s not dead but the use of it to sell a product or service is.”
WESTERN INVESTOR APRIL 2012 www.westerninvestor.com Lower Mainland A13
Commercial Real Estate Services, Worldwide.
www.naicommercial.ca
Committed to Canada. Connected to the World.
GARY HAUKELAND OR J.D. MURRAY604-683-7535
www.naibusinesses.ca
ALF SANDERSON DELON CHEUNG 604-691-6646
alf@naicommercial .ca604-691-6654
delon@naicommercial .ca
COURT ORDERED SALES397 Acre Development Site, Sechelt BC
PRICE: $22,250,000459.1 Acre Development Site, Cranbrook BC
PRICE: $22,300,0001.99 Acre Multi Family Development Site, Sechelt BC
PRICE: $1,900,000116.53 Acre Development Site, Invermere BC
PRICE: $1,499,000 INDUSTRIAL & DEVELOPMENT SITES
43,560 sq.ft. Industrial Waterfront Site, New Westminster, BC
PRICE: $950,00029.2 Acre Commercial/Industrial Development Site, Sechelt BC
UNDER CONTRACT0.6 Acre Industrial Site, Maple Ridge BC
PRICE: $325,0001.82 Acre Multi-Family Site, Sechelt BC
PRICE: $2,000,000
ELIZABETH WOZNICZKO604-691-6648 [email protected]
BEAUTY BOUTIQUE & ACCESSORIES (Vancouver)
.............................................. $228 000 + inv
BLUEBERRY FARM & NURSERY (Abbotsford) .....................$1.98Mil
MOTEL PUB LIQUOR STORE (Vancouver Island)
........................................................................$2.8Mil
HOME ACCESSORIES & FURNITURE (Surrey) .........................$99K + Invi
UNDER CONTRACT
[email protected] [email protected]
TED WEIBELZAHL 604-514-6825 or 1-800-890-9855 [email protected]
EQUIPMENT RENTALS Metro Vancouver
Shares $3.0mil
EMPLOYMENT AGENCY Metro Vancouver
$319,000
GARAGE DOOR REPAIRS & SERVICE
Shares $239,000
DOLLAR STORE FRANCHISE
.............................. $358,000+Inv
TED STELLAKIS 604-691-6692 [email protected]
RICK LUI 604-644-6182 [email protected]
RICHMOND$4.8 Million
$7 Million
VANCOUVERSOLD $7.8 Million
OFFICE STRATA FOR LEASE OR SALEAsking: To Purchase: $1,798,000 To Lease: $35.00 NNN
FOR SALE LANGLEY FRASER HIGHWAY FRONTAGE COMMERCIAL STRATA UNITS 2 TO CHOOSE FROM
Asking $635,000
Asking $749,000
INDUSTRIAL STRATA FOR SALE OR LEASE102/103 26730 56 AVE LANGLEYAsking: To Purchase $650,000 To Lease $7.50 NNN
OFFICE STRATA FOR SALE OR LEASEHIGHWAY 10 AND 152 STREET LOCATIONAsking: To Purchase $519,900 To Lease
CAP-IT WESTERN CANADA FRANCHISES AVAILABLE
$150,000
ONE HOUR OPTICAL CENTRE $250,000
99 PAD PHASED MANUFACTURED HOME PARK 100 MILE HOUSE AREA Asking $650,000
HALCYON HOT SPRINGS VILLAGE & SPA
$15,900,000
VANCOUVER ISLAND RESORT & SPA NEW LISTING
$POA
VALEMOUNT RAMADA HOTEL NEW LISTING
$4,200,000
SUCCESSFUL CUSTOM MILLWORK NEW LISTING
. $2.9m inc working cap
ENGINE DISTRIBUTION CO
$2,500,000 inc inv & equip
NIGHTCLUB BAR & GRILL
$550,000
VANCOUVER DINNER CRUISE BUSINESS ............REDUCED
$1.85m inc yachts
HAIR & BEAUTY SALON
$258,000 + inv
SUCCESSFUL CAFE RESTAURANT
$299,000 inc equip
MICHAEL MARCKWORT [email protected]
42 SUITE APARTMENT BD, KAMLOOPS
$3,850,000
MOBILE HOME PARK, KAMLOOPS
$1,725,000
MINI STORAGE BUSINESS, MERRITT
$1,300,000
BC CARE HOME
$2,399,000
CRANBROOK RV & MINI STORAGE
$1,750,000
16 UNIT MFU, PORT ALBERNI
$1,115,000
SOLD
SOLD
DON ELLIS, RI [email protected]
160 Acre Development Site, Abbotsford BC
PRICE: $3,900,00023.3 Acre Agricultural Site, Delta BC
PRICE: $2,400,000
27.6 Acre Agricultural Site, Langley BC
PRICE: $2,760,000
KINGSWAY RETAIL SHOWROOM: $6500 PER MO
LOWRISE DEVELOPMENT SITE + $1,980,000
RESTAURANT: $1,425,000 INCL. BLDG
MINI WAREHOUSE: $1850 PER MO
HERITAGE OFFICES BY SKYTRAIN: $375 - $3,000 MONTH
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A14 Lower Mainland www.westerninvestor.com APRIL 2012 WESTERN INVESTOR
WESTERN INVESTOR APRIL 2012 www.westerninvestor.com A15
REGIONAL ROUNDUP Abbotsford now a hot spot for real estate as traffic, population growth accelerate
Please see Incentives page A16
FRANK O’BRIEN
WESTERN INVESTOR
hen acquisitive Calgary land-lord Mainstreet Equities swooped into B.C. last year its
major focus was Abbotsford. In a matter of weeks, Mainstreet bought 11 buildings with 731 suites in the Fraser Valley community and is looking for more. “We now control about one-third of the Abbotsford market,” said Mainstreet founder and president Bob Dhillon, calling it “one of the best rental investment markets in Canada.”
Dhillon cited the main reason why other real estate investors are now clamouring to get into a city ranked as the third fastest growing in B.C., with a 7 per cent population increase in the past five years. “The area is becoming, with Surrey, the second-biggest urban centre in B.C,” he said.
The Abbotsford area now has a population of 170,000, according to Census Canada, which ranks it among the five largest municipalities in the province. The population has doubled in the past 20 years.
And real estate investors are taking note.As an indication of what is happening, total
Abbotsford building permit values in January soared 225 per cent from a month earlier and 202 per cent from a year earlier, according to the Vancouver Regional Construction Association.
The numbers are staggering: residential per-mits soared 198 per cent; commercial build-ing permits shot up 113 per cent; and industrial real estate permits increased a stunning 717 per cent to $2.7 million – and that is just for one month.
Industrial action, in fact, is one of the hottest areas in Abbotsford. About 220 acres of land around the busy Abbotsford International Airport is being marketed for aviaton-related businesses and the City of Abbotsford has ear-marked 37 other properties in Clearbrook and Peardonville for industrial use.
The airport, ranked as the largest second-ary airport in Canada with 460,000 passengers annually, is now run by an airport authority that reports to City Hall.
“What we’re really trying to assess is the best way to operate the airport,” said Jean-Paul Laube, business development manager for the Abbotsford International Airport. “We’re marketing ourselves as the Fraser Valley’s air-port so we view ourselves as having to have the infrastructure in place to go out and bring in business.
“The No. 1 priority is maximizing the airport as an economic driver.”
An acre of prime land zoned for industrial in Abbotsford ranges from $750,000 to $850,000 per acre, according to local realtors, but some B
sites can be found in the half-a-million-dollar range. Sounds expensive, but not when com-pared with the average of $1.2 million per acre for industrial land in Metro Vancouver.
The City of Abbotsford calls industrial space “job development” lands, and it is an accurate moniker. One of the biggest industrial projects this year is an expansion of the Saputo Dairy Products Canada manufacturing facil-ity, worth $2.3 million and about 150 jobs.
Abbotsford, named last year by the National Association of Office and Industrial Properties (NAOIP) group as the “most busi-ness friendly municipality” in B.C., is offering generous tax incentives to attract employers.
At the airport, for instance, industrial devel-opers who spend at least $100,000 receive a 100 per cent property tax exemption in the first year, and the exemptions extend out to 10 years.
Tax breaks are also used in downtown Abbotsford to encourage new infill commer-cial construction. “Abbotsford’s economy is strong and we want to do everything we can to
keep it that way. Tax incentive programs like these ensure that Abbotsford remains competi-tive among other municipalities,” a city releasestated.
According to a NAIOP survey, it would cost a total of $3.52 per square foot in total civicfees to rezone and develop a 100,000-square-foot warehouse in Abbotsford, compared withnearly $6 per square foot in Vancouver and $5.35 per square foot in Surrey. Abbotsford also has the fastest approval times in the Lower Mainland, taking an average of 90 days from a rezoning application to putting shovels in the ground for an industrial building, NAIOP found.
Along with the tax incentives a strategicprojects team was created in 2008 to help iden-tify a small number of high-impact projects forAbbotsford and deliver expedited services to the development community.
An example of this strategy is lands aroundthe highly rated University of the FraserValley, where former industrial lands are being rezoned for mixed-use retail and residentialprojects. Land here is going for close to $1
RIGHT: Shape Properties is completing a 20-acre, $200 million retail “lifestyle” centre in west Abbotsford. LEFT: About 200 acres of industrial land is open for development at the Abbotsford International Airport: expect to pay $750,000 an acre for airside lots.
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11+10 UNIT ABBOTSFORD APARTMENT BUILDING
Nicely renovated 11& 10 suite apartment buildings in Abbotsford, BC. Great location! Built 1990. Very effi cient with low expenses. Asking $1.1M (11 unit) & $1.138M (10 unit)
2.27 ACRES PRIME INDUSTRIAL LAND WITH MINI STORAGE, NANAIMO, BC
Fully operating mini storage business with U-Haul franchise on 2.27 acres of land located in a prime light industrial area. Hwy 19 exposure and plenty of street frontage makes this a great holding property and development project. This is the last empty plot of land in the entire area! Asking $2.0M
CHILIWACK INVESTMENT CONDOSChiliwack investment grade strata titled condos.Fully managed with live in caretaker and professional management. Built 1994 with great tenants and low turnover. 1 and 2 bedrooms available. Starting at $135,000
KEVIN NG, MBA B.Sc, Professional Real Estate Agent
and Realty Advisor
For these listings and more, please check out
www.KevinNg.com or call me at
604-781-0680Sutton Westcoast Realty
C O M M E R C I A L P R O P E R T Y S O L U T I O N S
w w w.kingser vices.ca
K I N G SERVICES GROUP:
Offi ce: 604-576-8666 Toll-free: 1-800-991-1852
email: [email protected]
Concrete /Asphalt Paving / Curbing
Food Grade Epoxy Flooring Systems
Restoration / Repair / Maintenance
Potholes, Cracks, Joints, Grinding, Leveling
Parkade Membrane Repairs
Traffi c Deck Systems
Flooring Grinding / Polishing Systems
Crack Sealing / Seal Coating / Line Painting
Sidewalks, Paving Stone Repair
Traffi c Signs, Bollards, Speed Bumps
Licensed, Bonded & Insured
24 Hour Turn Around Service
A16 Lower Mainland www.westerninvestor.com APRIL 2012 WESTERN INVESTOR
ROYAL GROUP Tapestry Realty#104-13049-76 Ave
LUCRATIVEBUSINESSOPPORTUNITY
Sam Rakhra 604-761-0172Kapal Badhan 604-719-4930For More Details And Confidential Discussion
Best deal in town. Health spa & beauty salon in the heart of busy shopping center on Scott Road, Delta with great exposure & solid client base. Excellent opportunity for new immigrant or entrepreneur to be their own boss. Vendor retiring, must sell. Seller willing to train.
POWELL RIVER I N V E S T M E N T
OPPORTUNITIESMulti-use Light Industrial Property
1.3 acres with 16 storage bays, office, 21’x41’
shop/bay with 3 phase power. Fully fenced,
easy highway access, good exposure, room
for expansion, just minutes south of Powell
River. $349,900
In-Town Oceanfront Industrial 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’
waterfront; incredible panoramic views; in
ALR $3,100,000
Incredible Location! 132 acres just past downtown core; select
areas provide stunning ocean & island views;
in ALR $849,000
Ideal Agri-Business Opportunity102 acres fairly level land; many possibilities;
easy access; in ALR $569,900
Great Investment Property 30 acre wooded parcel zoned M3 Industrial;
easy access; services available $349,000
Aroma's Gourmet Coffee & LunchWell established; steady clientele. Leased
space in active business complex; Across
from Airport. Financials available. $49,500
LORNE CHERNOCHAN 604-880-0550 (cell)
CALL OR EMAIL FOR A FULL INFO. SET
WESTCOAST
RICHMOND BEST PRICE ACREAGE INVESTMENT
$125,000 per acre FOR THE 36 ACRES!!$1,250,000 each
FOR THE 2.5 ACRE PARCELS!!3 adjoining parcels = 41 acres.2 STREETS FRONTAGE = 777 feet
Current rental income $6,980,000 FOR ALL 3 !!
INDUSTRIAL STRATA FOR SALE OR LEASE
EAST RICHMOND $388,000 TO BUY OR LOW GROSS LEASE RATE1,997 sf = 1,227 sf warehouse with GRADE load + 750 sf ground floor offices with separate entrance.
Newer building in on high exposure street
HOUSE ON SUBDIVIDABLE LANDZONED for 2 LOTS IN RICHMOND
SOME OFFSITES DONECURRENT INCOME = $26,000 +/YEAR
$1,000,000
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from A15million an acre, says Paul Penner, manager of Re/Max Little Oak Realty and the former president of the Fraser Valley Real Estate Board.
“Abbotsford is the biggest sleeper city in B.C., “ Penner said, noting that it is a centre for high-paying jobs. He pointed to the new Abbotsford Regional Hospital and Cancer Centre, aviation giants such as WestJet and Conair and new manufacturing facilities as such job generators.
Abbotsford’s housing market has taken a hit, but there are signs that it is coming back. Quantum Developers is planning to build the tallest condo high-rise in the city with a 26-sto-rey tower that will start marketing this spring. Polygon Homes of Vancouver is also active in the market, but some other developers – such as Solterra – have put new housing projects on hold until “Abbotsford prices recover,” as a Solterra spokesman said.
The median price of an Abbotsford detached house is $400,000 and a typical condo sells for $155,000 – among the lowest prices in the Lower Mainland and about $140,000 less than in neighbouring Langley.
Penner, whose staff crunched the numbers, reckoned that, based on travelling times and prices, “the 25-minute increase in drive time from Surrey to Abbotsford equates to a sav-ings of $5,028 per minute, and the 10-minute
City population 123,000Area population 170,000Median detached house price $400,000Median condo price $155,000 Acre industrial land $500,000 to $850,000Acre commercial land $1 million
increase from Langley City could save the buyer a whopping $14,260 per minute behind the wheel.”
After a slowdown in late 2011 Abbotsford detached housing sales jumped 18 per cent in February, perhaps due to home buyers doing their own math, especially for higher-end homes. “You can buy an executive-style house in a premier community, like Eagle Mountain, for around $700,000,” Penner said, noting a similar house in Metro Vancouver would easily run to more than $1.5 million.
The expansion of the Port Mann Bridge, the Mt. Lehman freeway exchange and the completion of the Golden Ears Bridge across the Fraser River will further reduce com-mute times, Penner noted, forecasting that more Metro home buyers will begin to see Abbotsford as a best buy.
The apartment vacancy rate in Abbotsford is around 6 per cent, the highest in the Lower Mainland; but, according to landlords like Dhillon, this just makes it a prime buying opportunity.
“The [rental] potential is enormous,” Dhillon said, adding that you can buy apartment build-ings in Abbotsford and Surrey for less than the construction value.
Developer Shape Properties is among those who recognize Abbotsford’ potential. Shape is in the midst of developing the $200 million, 600,000-square-foot High Street “lifestyle” shopping district on a 20-acre site in West
Abbotsford, which will include Wal-Mart,London Drugs, Cineplex VIP Cinemas, thefirst Marshalls outlet in B.C. and 17 other retailers when it opens next spring.
Downtown tax incentives – which include tax holidays for up to five years – are also helping to encourage new retail projects in Abbotsford’s historic core, according to Jay Teichroeb, manager of Abbotsford’s economicdevelopment office.◆
✪
✪
U.S.A.
77
MISSION
ABBOTSFORD
To Vancouver
BRITISH COLUMBIA
Fraser River
11
11
From only
$149,900
HIGH-YIELD POSITIVE CASH FLOWS
NEW CONDOMINIUM - PRIME LOCATION
VERY LIMITED NUMBERAVAILABLEAFTER Mortgage, Strata Fees & TaxesMonthly Positive Cash Flow of: 1 Bedroom - Over $300* 2 Bedroom - Over $450* Let it PAY YOU to own.
*(O.A.C., E.& O.E.)
Prime High-Density Development Property in Abbotsford1.3 acres located just steps away from Mill Lake and Seven Oaks Mall.
Contact 604-308-1475E-mail [email protected]
Subs
cribe
www.westerninvestor.com
CALL NOW 1-800-661-6988
WESTERN INVESTOR APRIL 2012 www.westerninvestor.com Lower Mainland A17
A18 www.westerninvestor.com APRIL 2012 WESTERN INVESTOR
UNITS FEATURE
COMPLEX FEATURES
Strata unit complex perfect for RV StorageSizes starting at 16’x45’ on up to 1777sq ft
Prices Starting at
$65,000Best Valuein the Area!
Individual Strata Units For Sale atWest Lynden Storage Condos
Available just 6.4 km south of the CAN/US Border!
Contact Us Today to set up a viewing!
DICK VANDENBERG(360) 393-2414
2305 Leatherwood Dr - Lynden, WA 98264www.westlyndenstoragecondos.com
DON MUNRO(604) 817-7338
MAPLE RIDGE16 ACRES + LARGE HOME
$2,100,000
PORT COQUITLAM 4 LOTS APPROVED FOR SUBDIVISON
$1,395,000
FLEETWOOD4 LARGE LOT SUBDIVISION
$1,599,000
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
SOLD
ritish Columbia’s commercial real estate market remains robust, despite a drop in the total value of
the biggest real estate deals last year.The top 100 biggest real estate deals in 2011
totalled just over $2.3 billion, down from near-ly $3 billion of deals in 2010.
As in previous years, the bulk of the total value of the deals originated in the top 50 deals. Last year, those were worth a combined $1.8 billion. That was comparable to the total value of deals in B.C. prior to the global financial cri-sis, based on Business in Vancouver’s previous lists of biggest real estate deals.
The lack of prime commercial properties available for sale was one of the key reasons for the decline in total deal volume last year.
“It’s still an excellent market, if you can find product,” said Kirk Kuester, Vancouver brokerage managing director at Colliers International. “Real estate is perceived to be a safe place to be and, for that reason, sellers are challenged in parting with real estate.”
Bob Levine, principal at Avison Young, noted that both private and institutional inves-tors are increasingly looking to real estate as a relatively safe asset class in which to invest given the low returns in the fixed-income mar-kets and high volatility in the stock markets.
“Your traditional buyers such as pension funds and life insurance companies seem to be putting a greater percentage of their assets into real estate than they have historically. It’s driven by rates of return.”
In 2010, many of the biggest deals involved institutional investors rebalancing their invest-ment portfolios, which saw nearly a quarter of
the top 100 real estate deals in 2010 consist of retail shopping centre trades.
Mark Renzoni, executive vice-president of CBRE Ltd., noted some of that portfo-lio rebalancing continued into 2011, but the region’s stable real estate market has provided sellers a good exit opportunity. Such was the case for the Sutton Place Hotel in downtown Vancouver that was part of a hotel portfolio sale that included an Edmonton hotel for a total price of $197.5 million.
“The vendor saw there was a good amount of liquidity in the market; they felt comfort-able that pricing was at a high level and it was time to pull those funds out of the assets,” said Renzoni. “At the same time, you saw the pur-chaser, [Northland Properties], looking for core assets to enhance their portfolio mix and saw the Sutton Place as a jewel asset that comes around once every couple of decades.”
The appetite for cash flow continued to bol-ster the multi-family investment market. The number of rental buildings in B.C. that made the top 100 list rose to 18 from 10 in 2010, with a total value of more than $291 million, up from $223 million in 2010.
Levine noted strong demand among private buyers has kept the market extremely liquid and competitive, especially with Metro Vancouver rental vacancy rates remaining low. “The deals tend to be smaller, but there are tons and tons of people that want to buy. It’s very competitive. It’s probably the most competitive [market] of them all.”
While the global markets roiled over the sol-vency of peripheral countries in the Eurozone like Greece and uncertainty over economic
FEATURE Tight inventory, sophisticated investors put pressure on B.C.’s commercial property owners
RICHARD CHU/BIV
WESTERN INVESTOR
growth, Renzoni said international buyers continued to be interested in Vancouver’s mar-ket, which has contributed to strong real estate prices in the region.
“Outside pressure does help move values up, but it’s not necessarily true that they’re going to be the ultimate buyer. It may still be bought by a local or national player.”
But if you can’t buy a building, many are deciding to build it.
The dearth of available commercial proper-ties has led to a new wave of commercial and mixed-use property development that’s likely to persist for years.
Levine suggested the number of new office towers could rise to six or seven from the hand-ful that have been announced so far, which includes Telus Gardens, Oxford’s 1021 West Hastings, Bentall Kennedy’s 745 Thurlow Street and Credit Suisse AG’s old stock
exchange building development.On the residential side, developers have also
taken big steps to further transform the region with new neighbourhood developments. Thenumber of land or development-related real estate sales on the top 100 list rose from 11 in2010 to 20 last year, with the total value of salesrising to $517 million from $234 million.
Renzoni suggested that the low-interest-rate environment is a significant reason for theexpected boost in development activity in theregion. With low rates expected for at least thenext couple of years, the window for develop-ment will remain open, further transforming the regional landscape.
“There’s a lot of interest in development to add to the office inventory and office holdingsof pension funds,” he said. “With the office developments and the residential projects thatare planned, we’re probably going to see morecranes in our urban skyline since Expo 86.”
For all asset classes, it will remain a seller’s market in the region, analysts agree. “Despite our best efforts, the owners todayof downtown quality office inventory aren’t interested in selling,” Kuester noted. “They’reinterested in buying. There’s tremendous demand, but we continued to be challenged by the continued lack of supply.”
A CBRE forecast report suggestedVancouver’s investment market will remain strong across all sectors. The total number of deals in the region is forecast to remain above1,200 transactions this year.
But concerns still remain whether or not the current market is approaching its peak. Levine suggested that concern may result in more will-ing sellers in 2012 than in previous years, as they try to get top dollar.
“Prices aren’t going down by any means, butI have a feeling that the supply this year may be higher than last year because there’s certainlychatter among owners about how high prices can get,” Kuester noted. “A number of owners who aren’t married to their property forever aresaying, ‘If I’m going to sell, this is a good time to sell.’ We’re seeing signs of that.”◆
Sale of Sutton Place Hotel in Vancouver among the top deals in the past year.
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WESTERN INVESTOR APRIL 2012 www.westerninvestor.com Lower Mainland A19
MEHRAN MOALLEM B.Elec. Cert. Marketing
Business and Commercial Consultant
RE/MAX CRESTCOMMERCIAL DIVISION
778-858-9025 [email protected]
www.Bonded Business Brokers.com
B U S I N E S S E S
Organic Make up MFG Richmond $2.2 Million $300k net income 6000 sq ft 18 years
Print Shop Greater Van $695k Great Opportunity 6000 sq ft 20 years
Indoor Amusement Park Surrey $469k $350k sales $110k net 7500 sq ft 4 years
Franchise restaurant Surrey $299k $600k sales, $90k net 2600 sq ft 5 years
Mill work & Woodworking North Van $300k $500k sales $180k net 5700 sq ft 4 years
Coffee Shop & Crepe Vancouver $129k $220k sales $85k net 1100 sq ft 12 years
Steak House & Lounge Vancouver $229k Great opportunity 1250 sq ft 1 year
UBC FOOD Court UBC $99k $300k sales $85k Net 450 sq ft 8 years
Mini Market Coquitlam $199k $1500k sales $150k 2300 sq ft 3 years
Convenience store Vancouver $89k $200k sales growing 1200 sq ft 1 year
Florist 3 years old, great location North Vancouver $69K
Indoor Amusement park 7500 sq ft 3 years Great income, spent over $750K. Laser, bump car, ball room and more. Surrey $469k
Outdoor sign MFG 23000 sq ft 22 years, Great opportunity all under 1 roof, digital, neon, letter channel & more. Greater Vancouver $1.2 Million
W A N T E DI H A V E Q U A L I F I E D B U Y E R S F O R M O N E Y M A K I N G
B U S I N E S S A N D F R A N C H I S E C O F F E E S H O P
W A N T E DI H A V E Q U A L I F I E D B U Y E R S F O R D E V E L O P M E N T L A N D ,
I N C O M E P R O P E R T Y C O M M E R C I A L O R R E S I D E N T I A L
P R O P E R T Y & B U S I N E S S
Offi ce space Recently remodeled 760 sq ft, central, parking, spent over $50KLonsdale N Vancouver $399k
Industrial space 1600 sq ft Central location must sell, Rented month to month, make an offerBurnaby $367k
Industrial space 7000sq ft space & land, 2 offi ces, auto & body shop, hoist, paint roomLynmore North Vancouver $1,998k
Industrial retail "with property" 5000 sq ft & woodworking/ cabinet business Port Coquitlam $1.3 Million
Business with property convenience store 1200 sq ft, great locational, equipment & inventory Vancouver $949k
Retail space fully improved 1238 sq ft many uses, ideal for medical, dental or ...Dunbar Vancouver $859k
Denny’s Great opportunity 5000 sq ft, 12 years, located at busiest shopping centre in the area Greater Vancouver $599k
38 Acre land Britannia Beach Sea to Sky Highway holding property or build, 45 minutes to Vancouver or Whistler $4.2 million
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This property is located in the Fraser Valley and has 2 Triple “A” National Tenants on Long Term Lease. The Main tenant is a Farm Equipment Dealership and the 2nd is a Mini Storage Co. Both have been there for the past few years and planning to stay there for a long time.
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.
Distribution Warehouse
$3.7 Million
Bill Summers Direct Line: 604-626-8894 Email: [email protected]
Fraser Valley Mobile Home Park-42 pad MHP on 5+ acres with RV storage sites and home on city services in Maple Ridge.
Asking price $4,000,000 Present cap rate of approx. 5.43% with upside to 5.56%.
Alberta Mobile Home Park Great cash flow (No Rent Controls)-115 pad MHP and 21 RV sites on 17.36 acres
Asking price $6,200,000 with cap rate of 9.1% with lots of upside to increase
Lougheed Hwy - Deroche Commercial BuildingEXCELLENT HWY EXPOSURE .3 Acre corner lot Highway frontage zoned Commercial. 2400 s.f. metal clad building with 2 large bay doors and high ceilings plus small mezzanine.
PRICED TO SELL Asking $295,000
PARK OWNERS - THINKING OF SELLING?If you are thinking of selling , please give me a call as I have many qualified
purchasers looking for mobile home parks at this time. Confidentiality observed.
www.sellingmobilehomeparks.com
t
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[email protected] RE/MAX Advantage WCT
www.whitecourtrealestate.com
Renford Inn Motel – 112 rooms, 3.73 acres on hwy. Room to expand. Sales: $1,200,000 List: $4,950,000
Industrial Lots by the Airport, any size, over 2 acres. $140/acre
Quizno’s Franchise – 5 yrs. operating - 5 yr. lease. Good rev and hwy location.
Residential Development, 6.7 acres, good for 32 lots, close to Rotary Park.$575,000
Leo or Brenda at 780-778-6678
1-800-248-4843
BOOMING WHITECOURT, AB
Call the
marketing your franchise?
1-800-661-6988 (604) 669-8500westerninvestor.com
A20 www.westerninvestor.com APRIL 2012 WESTERN INVESTOR
ou’re an entrepreneur with a fabu-lous new business opportunity that will make you, your colleagues and
your investors very wealthy. How do you go about raising venture capital?
First let’s set some expectations.On the capital side, the venture capital indus-
try has been down since the dot-com bust 10 years ago. Returns have been dismal, venture funds have gone out of business, many inves-tors have abandoned the venture space and surviving fund managers struggle to raise new capital and try to get liquidity for successful investments in markets that don’t seem to care much.
On the venture side, entrepreneurs really have to work to raise serious money today. Gone are the days when a cocktail napkin pre-sentation got you $20 million on a $50 million pre-money valuation. Valuations are very low. Deal sizes are near record lows.
Here is a quick list to stick up on the refrig-erator to guide you in your quest.
1. Get your introductory pitch tuned. One chance for a first impression? Pretty much. Table stakes for your venture are a game-changing technology or product laser-pointed at a large, willing market, but that is not enough. Spit it out into a great one-page quick read that is your elevator pitch. Make it impressive, memorable, believable and easy to understand. Remember: you have to hook your target fast.
2. Nail your business plan. You piqued your investor’s curiosity with a killer summary … now deliver the full story with punch. Write it yourself. Make it passionate, back it up with solid facts, research, competitive analysis and financial potential.
Make sure to complete the reading experience with a strong investment case that includes a realistic value on what you have done so far, investment terms and a real-istic exit time frame and valu-ation. Investors want to know how they can get out before they decide to get in.
3. Play the odds. One out of 100 ventures like yours raises venture capital. Why should you succeed over the others? Increase your odds by play-ing the odds. Do exhaustive research on who should be investing in your deal at the stage you are at.
Find 10 to 20 of them in Canada, the U.S. or overseas, depending on your deal. Pitch them all as if they were your only date. Get half of them to commit to doing some due diligence. Try to get term sheets from two or three. Seek healthy competition between them or work them to co-invest.
4. Listen to what they say. We may sound like arrogant jerks poking fun at your baby, but we see 500 deals a year just like yours, and we give you the straight goods. Why would we lie?
If you don’t make the impact you’re expect-ing, figure out why. If a pattern emerges from the feedback, such as, “You’re a bit early with your product, your team is too weak, your mar-ket plan is fuzzy, we don’t believe your market is ready,” address these comments head on or you won’t get funded.
You may need to back off for 90 days and fix the holes in your plan or your deal is dead.
5. Find out what deals are getting done. The venture industry publishes some deal data, but the blogosphere is filled with it. Different local markets have different values for deals that get done.
Silicon Valley deals have their terms, as do deals in Ontario, New York, Israel, Boston. And, pulleeze, don’t compare yourself to the tiny number of uber-successful ones like LinkedIn, Zynga or Facebook. Trust me, these are anomalies.
6. If you do get a term sheet from an investor, go find another one. There is nothing like an auction to keep every-one honest. If you only have interest from one party – and that party knows it – your initial offer will get ground down dur-ing due diligence to a fraction of what you’re hoping for.
It’s like selling your car. If your only prospective buyer takes it to a mechanic and comes back with a long defect list, good luck trying to get a good price.
However, if your buyer knows that another buyer is coming in 10 minutes, the chequebook comes out.
7. Build the business while you shop for money. The worst mistake most entrepreneurs make is having a revenue projection labelled “Month 1, month 2, etc.,” that starts with receiving investment.
It is pathetic having these entrepreneurs back for a repeat visit six months later, and they’re still waiting to kick-off month 1. Investors like to see a business that’s alive. If you come back and you have successfully executed your six-month milestones, your probability of funding goes up. Probability goes up a lot more if you achieve your milestones early.
8. Collect awards. Fill your trophy case. Go after business accolades. Go after third-party endorsements. Get glowing customer testimo-nials.
In my 25 years in the venture business I have never seen a time when the trophy case has been more important to investors – at least to get you through to the due diligence round.
Ten-step plan for raising venture capital begins with tuning your pitch and nailing your business plan
This must be a cultural offshoot of the reality-TV, American Idol-culture generation. “If youcan’t see the shine, it don’t shine.”
9. Keep selling your angels and other earlyinvestors. It just might be that you don’t attractinvestment capital yet at terms that you andyour investors find reasonable.
This may require your existing investors topony up another $100,000 or a million. Keepthem believing by continually giving them yourbest pitch, too.
Ideally, you want them to think that the out-side venture funds are too stupid to see howgood your deal is.
Take the case of Avigilon Corporation,and its serial entrepreneur/founder/CEO AlexFernandes. Avigilon designs and manufacturesthe absolute best high-definition surveillancesolutions.
Launching sales in late 2007, Avigilon quick-ly established itself , protecting and monitoringdiverse locations around the world with the bestimage clarity.
Avigilon completed its IPO on the TorontoStock Exchange in the fourth quarter of 2011.a profitable quarter during which it also hit rev-enue of almost $19 million, for a run-rate of $75million annually.
Avigilon raised approximately $18 millionpre-IPO, from founders and employees ($4.5million), angels, friends and family ($11 mil-lion) and one venture fund ($2.5 million) overseveral years throughout the start-up and earlyproduct development phase.
Fernandes states unequivocally, “Had we beenforced to rely solely on VC funding, Avigilonwould likely have either failed outright or ..ulti-mately not have been very successful”.
However, Fernandes was also that very rareentrepreneur/CEO who had the skill, determi-nation, and credibility to raise the pre-IPO $18million.
10. Have a backup plan. The venture indus-try is so timid these days that your best shot maybe a strategic partner, such as your best cus-tomer or a key supplier. Pitch them constantlyto see if they can become your investors.◆
Harry Jaako ([email protected])is chairman of Discovery Capital Corp., aVancouver-based venture capital firm.
HARRY JAAKO
The NAIOP Vancouver and Business in Vancouver Commercial Real Estate Awards of Excellence recognize quality and performance,
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LIQUOR STORES, PUBS, HOTELS/MOTELS
HOMELIFE BENCHMARK TITUS REALTY
NEIGHBOURHOOD LIQUOR STORES - PUBS - HOTELS - RESTAURANTSIF WE DON’T HAVE IT LISTED WE WILL FIND IT FOR YOU!
MANY NEIGHBORHOOD PUBS IN ALL PRICE RANGES NOW AVAILABLE.
NANAIMO ROAD HOUSE & LIQUOR STORE – OFFERS! 2½ acres. Land & buildings. Asset sale. Includes 2 suites. VENDOR FINANCING 0.A.C.
NEW WESTMINSTER PUB & LIQUOR STORE $3,300,000 (ASSET SALE)
KELLY'S PUB & LIQUOR STORE – Money maker. $2,000,000 Hurry! SHARE SALE.
FOX'S REACH PUB & LIQUOR STORE – $3,400,000 ASSET SALE
CHILLIWACK PUB & LIQUOR STORE – $2,495,000
PUB IN BUSY SHOPPING CENTRE LOCATED IN SURREY - PRICED BELOW REPLACEMENT COST. GREAT TERMS. QUICK POSSESSION. TRY YOUR OFFER!
CAMPBELL RIVER WATERFRONT PUB & LIQUOR STORE GROSSING $3.3 MILLION. IN BUSY SHOPPING CENTRE. ASKING $1,600,000 FOR SHARES. QUICK POSSESION.
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MORE DETAILS CALL:
GAS STATION – LAND & BUILDING .6 ACRE LAND. OVER 4,000 SQ FT BUILDING AND 2 ROAD FRONTAGE.
FIBERGLASS TANKS. EXCELLENT GROSS & NET PROFITS $2.9 MIL
C-STORE - BUSINESS ONLY ESTABLISHED 30 YEARS SURREY $49,900
GAS STATION WITH LAND AND BUILDING (FRASER VALLEY) $1.8 MIL
GAS STATION WITH LAND & BUILDING $2.8 MIL OVER $1.5 MIL IN STORE SALES.
GAS: OVER 3MIL LITRES. NEW TANK AND PUMP. EXCELLENT GROSS PROFITS
AND NET INCOME
GAS STATION WITH LAND & BUILDING OVER 8 ACRES OF LAND. C-STORE,
RESTAURANT, HOUSE. ON HWY 1 $1.19M
HOUSE ON 4 ACRES ZONED FOR MOBILE HOME PARK
$399,000
GAS STATION WITH LAND & BUILDING, FRASER VALLEY
OVER 1/2 ACRE, C-STORE, GAS STATION, RESTAURANT & 2 BEDRM ACCOMMODATION
$599,000
PAMMI MANDAIR CELL: 604-825-8121 OFFICE: 604-859-3141 [email protected]
www.mobileparks.comHomelife Glenayre Realty
604-302-3771 or TF: 1-888-251-2822 Fax: 1-888-804-1394 Email: [email protected]
Golden, BC – 101 pads, 13 acres ...........5,900,000North Battleford, SK – 60 pads, 10.9 ac .2,700,000Invermere, BC – 31.48 acres, MHP site . 1,900,000Radium, BC – 9.77 acres, Cml Hwy Frtg ....900,000Quesnel, BC – 30 pads, 9.25 acres ...........625,000Cherryville, BC – 25 pads, 22 acres ..........685,000Ashcroft, BC – 8 pads, 0.64 acres ..............369,000Houston, BC – MH & RV Park, 40 ac+/- ....299,000
Darren McCartney 604-892-4875 [email protected]
RE/MAX Sea to SkyReal EstateSquamish
98 Unit Oceanfront Development Site $2.94 mil
13.25 acre Commercial Site on Hwy 99 Holding income campground/motel $1.95 mil
18,919 SF Dev Site Dwtn Bank Corner at key intersection $1.194 mil
Mixed Use Building Dwtn5,358 sf, lots of pkg $725k
Strata Office Space Dwtn 1,714 sf $345k
Strata Office Garibaldi 548 sf $169k
Industrial Revenue Property $1.1 mil
10 acre Riverfront Lots $1.175 mil +
Retail for Lease off Hwy 99 1,300-10,000 SF Adjacent to Home Depot, Walmart & Rona
Commercial Site on Hwy 99 $1.65 milC-3 gateway site: DP for 82 unit hotel,Zoning for: drive-thru, gas, restaurant
SQUAMISH INVESTMENTSINVESTOR ALERT !
2 Businesses & Property - $479,000Great opportunity to purchase a water bottling
business “Sunshine Coast Springs” and a nursery “Wilson Creek Nursery” and live and work on the
beautiful Sunshine Coast. Property features a newer 2 bdrm mobile home, 3 greenhouses, the water bot-
tling building/offi ce and the well house. Could easily employ 2-3 workers and is a great opportunity for an
energetic entrepreneur!
LESLEE COOPER Toll-free: 1-800-795-8961 or direct cell: 604-741-7800
Top 20 Realty
www.homelifebc.comwww.homelifebc.com
TWO COMMERCIAL BUILDINGSSIDE X SIDE
ML#V4021517 “The Dock” Sechelt Now $1,190,000
Main 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. Located beside building above.
TERRY & PAM B R A C K E T T [email protected] Oceanview Realty SECHELT
Investors take note! Solid 20 year old 4800 square ft building with two 3 bdrm suites and two 1 bdrm suites is located in upper Gibsons close to ferry, shops, schools and rec center and just one hour from Downtown Vancouver. Full details available.
Grossing 49K - 7% Cap RateAsking price: $625,000
Neil Sandy Cell [email protected], RE/MAX Top 20
GIBSONS, BC 4 Plex Revenue
www.neilsandy.com
Great investment opportunity to purchase 6 contiguous commercial strata lots in the Tyndall Stone Lodge across from the new Olympic Plaza. This area has seen a dramatic increase in pedestrian traffic since the Olympics.
These units are fully leased to 4 quality tenants.
COMMERCIAL FOR SALE WHISTLER VILLAGE$6,500,0006963 SQ FT – 6 strata lots
Call for an information package For more commercial listings and information on the commercial market in Whistler visit:
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A22 Vancouver Island/LIFESTYLE PROPERTIES www.westerninvestor.com APRIL 2012 WESTERN INVESTOR
Commercial REALTORS® know the market.In fact, we work in it everyday.
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104-year-old schoolhouse in down-town Fernie has been transformed into the first-destination spa resort
of the Kootenays. And, with 90 per cent of its hotel-condo suites sold out, Parastone Developments may have found a soft touch in B.C.’s competitive recreation industry.
Spa901, which boasts 6,600 square feet of spa and wellness centre amenities, is part of 901 Fernie that was completed in 2010.
“Parastone Developments is proud to intro-duce some grandeur back into Fernie’s down-town,” said Simon Howse, general manager of Parastone Developments, adding the project “will bring more tourists to Fernie.”
“We had a great team and a lots of support. The project was a huge economic stimulus for the community and we believe it will continue to serve as a catalyst for more investment in downtown and Fernie as a whole.”
Parastone has sold out all but four of the 44-suite mountain resort suites. Home owners have the option of placing their suite into the vacation rental program run by Fernie Central Reservations.
Prices of the remaining condo suites range from $479,00 to $998,900.
At the turn of the century, the schoolhouse was a beautiful, majestic brick building, but it was later covered with white/yellow stucco and became an eyesore. The LeBlond Partnership, architects of 901 Fernie, worked with Parastone to transform the building.
The spa and wellness centre is owned and
operated by Shelly MacGregor, president of Apex Massage Therapy, who operates two wellness and spa facilities.
Highlights of Spa 901 include: two infra-red saunas, five treatment rooms, a couple’s fireplace treatment room, co-ed and women-only fireplace relaxation lounges, an outdoor hot pool and men and women’s change rooms. Spa 901 offers unique and traditional therapies and treatments including a variety of styles of therapeutic massage, esthetician services and private bath treatments.
“The work that Parastone Developments has put into the restoration will amaze people,” said MacGregor. “The beautiful brick walls and high ceilings create a truly unique spa
RECREATION FEATURE Historic Fernie school transformed into $30M luxury spa and wellness retreat
WI STAFF
WESTERN INVESTOR
TOP: Parastone Developments has sold out 90 per cent of the suites at the Kootenay’s first destination spa resort. RIGHT: Spa901 operator Shelly MacGregor.
Phot
os P
aras
tone
Dev
elop
men
ts The redevelopment of the Fernie school is an indication of what may become
a recreational opportunity in B.C.: find-ing new uses for old schools and surplus land.
Declining student enrolment in the province has led to a surplus of land in district school boards, especially in rural areas. B.C.’s school population has fallen 7 per cent in the past decade to around 556,000 students, leaving many sites unused.
Since 2002, B.C.’s 60 school districts had closed 190 schools and more than 50 more closures are “certain or planned over the next couple of years,” accord-ing to the BC Teachers’ Federation. The recent provincial budget made it easier for school boards to sell surplus property.
An example of available sites is in the Kamloops area, where the Kamloops-Thompson school district – which sold a piece of land last year to Telus for $7 million – has a number of parcels it’s try-ing to unload.
experience that offers surprising value. We are excited to be a part of this iconic building and the community.”
It certainly proved for a classy opening, com-plete with a recital by opera singer and estheti-cian 21-year-old Kena Wigen of Creston, who, with a string quartet, serenaded visitors during the grand opening.
According to studies, spa treatments are also becoming popular with men and spa retreats are seen as one of the emerging trends in recre-ational markets across North America.
Parastone’s success selling hotel-condo-style property is in contrast to other resorts across B.C., where a marked turndown in demand has affected ski resort developers.◆
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westerninvestor.comnews archives reports updates
WESTERN INVESTOR APRIL 2012 www.westerninvestor.com LIFESTYLE PROPERTIES A23
“The Source” for Oceanfront, Lakefront, Islands, Ranches, Resorts & Land in BC at:
www.landquest.comLandQuest Realty Corp Smithers
LandQuest Realty Corp CourtenayLandQuest Realty Corp Nanaimo
LandQuest Realty Corp Cariboo –
RENOWNED CANADIAN FISHING LODGE - CENTRAL COAST BC
VALEMOUNT 57 AC. 205 LOTPOTENTIAL SUBDIVISION
$1,950,000
$900,000 & $1,700,000 $350,000
220 ACRES IN THE COWICHAN VALLEY
OLD BONAPARTE RESORT
OKANAGAN LAKE VIEW ACREAGE - VERNON
$449,000
WILDERNESS SANCTUARY CORTES ISLAND BC
$2,850,000
$283,000 $1,888,000
LAKESIDE CABIN & ACREAGE ANDERSON LAKE, BC
SHUSWAP ESTATE/DEVELOPMENT PROPERTY – SICAMOUS, BC
$150,000 $65,000
20 ACRES SLOCAN VALLEY
KOKANEE LAKESIDE RESORTWEST ARM OF KOOTENAY LAKE
SQUIRREL COVE TRADING CO. CORTES ISLE, DESOLATION SOUND
$1,350,000 $625,000
2 OCEANFRONT PROPERTIES HOME & COMM. MARINA LEASE
SEASONAL HUNTING CAMP WESTBRIDGE, BC
$495,000
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FRASER RIVERFRONT HOME HOPE, BC
26 ACRES - EASTERN HILLSIDES DEV. PROPERTY - CHILLIWACK
THE NEW 108 RESORT CARIBOO REGION OF BC
$3,990,900
GREEN LAKE WATERFRONT
$599,000
$390,000
CIRCLE S RANCH RADIUM HOT SPRINGS, BC
BIG BAR GUEST RANCH SOUTH CARIBOO - NEAR CLINTON
FRASER VALLEY FAMILY FARM
$949,900 $699,000
GRAPEVINE PUB & BISTRO BURNS LAKE, NORTHERN BC
$1,400,000 (REDUCED FROM $1,750,000)
SKEENA RIVER FISHING LODGE TERRACE, BC
RODGERS FISHING LODGE PORT ELIZA INLET
$1,450,000
LYTTON BC AIRSTRIP DEVELOPMENT
$489,000
PILOT HEADQUARTERS OR FAMILY HOBBY FARM
$349,900
$469,000 $695,000
A24 Vancouver Island www.westerninvestor.com APRIL 2012 WESTERN INVESTOR
NANAIMO | VANCOUVER ISLANDDEVELOPMENT AND INVESTMENT OPPORTUNITIES
DEVELOPMENT OPPORTUNITY WITH OCEAN AND CITY VIEWS Upscale development in the Univer-sity area for 10 residential lots and 26 luxury townhomes. This development project has all the necessary plans, reports and approvals in place. Devel-opment Permit for construction can commence within a short period of time. CALL DARWIN
NEW!! BARSBY ON THE MILLSTONEA great development opportunity for a well designed 58 unit Condominium Project on 1.14 acres of land on the Millstone River. Located within the no DCC zone of the City of Nanaimo, this project offers an immediate connection to the E&N trail as well as the miles of seawall on the Harbour only 3 blocks away. Development Permit ready. ASK-ING 1.55 M, CALL DARWIN
MULTI – USE DEVELOPMENT SITE One of the remaining development sites within the main service corridor of the Chase River neighbourhood – South Nanaimo. With approx. 4.3 acres of usable lands and excellent access di-rectly off Hwy 19A via traffic light. This site has excellent potential for a wide use of mixed Commercial-Residential developments. 2.8M, CALL DARWIN
EXCELLENT REDEVELOPMENT PROPERTY W/ EXISITNG MOTELEnjoy the existing holding income from the current motel complex while planning a new 6 storey commercial/residential mixed use complex. Great location near Hospital Node where de-mand exceeds supply for strata medical offices. Excellent exposure to Highway 19A and great access from rear of prop-erty with easy design for underground parking. 1.5M CALL DARWIN
VANCOUVER ISLANDS LEADER
to completion
BUSINESS OPPORTUNITY AT THE RESORT BEACH CLUB – PARKSVILLE B.C. “Perfectly Positioned Spa” in the New-est 4 Star Hotel Resort in Parksville B.C. A turnkey operation, elegantly designed treatment room, the latest equipment and spa line products, topped off with an unbelievable LEASE. CALL BILL SOREG for Details.
C O M I N G S O O NRental Investment Homes for the avid investor. (Secondary suites may be non conforming)
METRO VANCOUVER INDUSTRIAL BUILDING CLOSE TO CITY CENTRELocated in close proximity to down-town 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 @ $727,000. CALL ROB
Information brochure available.
C O M M E R C I A L HARBOUR REALTY LTD
Darwin Mahlum
Robert Borden
250.760.1066
Victoria Commercial Properties and BusinessesHoward Johnson Hotel $4,580,000
Centrally located in Victoria, British Columbia, Howard Johnson hotel provides a friendly and convenient stop for tourists and business travelers alike. Close to downtown Victoria and the area’s most popular tourist attractions, such as the historic inner harbor and the Parliament building. Features numerous modern Conveniences, including an indoor swimming pool, and complimentary wireless Internet access and a fi tness room.
Building w/2 Restaurants $1,500,000Located in beautiful Sidney, BC. A grocery store which is included in the price (inventory extra) & 2 restarurants.
Wessex Inn Motel $915,000Located in beautiful Cowichan Bay. All rooms have water view. 30 units, 2-storey, 1 bedroom anager suite, 1.74 acres, 12,000 Sq.ft.
Downtown Salad Bar $195,000Well established Franchise Salad Bar which is only one in Victoria. Easy to operated & good lease in place.
Esso Gas Station with attached A & W Restaurant in Nanoose Bay (Contact for pricing)Outstanding exposure, incredible traffi c along the E Island Hwy. Esso service station with attached A&W Restaurant. Self Service gas bar, Propane fi lling facilities, Diesel, Cardlock and full Esso Convenience Store. Traffi c heading both North and South on the Island Hwy have access to the amenities available here. There is a very nice home tucked in the corner of the 4+ acre lot for an owner occupier as well. Beautiful pastoral views, only 6km from Parksville and the village of Nanoose. Current businesses operate with competent managers in place.
Bagel Cafe $129,000Located in the heart of downtown Victoria; well established in the business community, offering bagel sandwiches, soups, Italian ice cream, & coffee. Easy operation, good income, & short hours (Mon to Sat, 8:00am to 5pm). Good lease in place. Well established Day Spa in Victoria $185,000Specializing in hand food treatments. Manicures, pedicures, facial & body treatments and many other services. Affordable rent & long lease in place.
Grocery Store in Sidney $248,000Well established, easy to operate, affordable rent, over 1M in sales.
Post Offi ce w/Dry Cleaning service $198,000Centrally located in a Plaza, well established, good lease in place.
Nationally Branded Canadian Franchise $198,000Nationally branded Canadian franchise offering fruit smoothies and many other nutritious food options for a fast and healthy alternative to those on the go. Located in a major mall with established clientele, this location has been operating for over two years. Perfect turn key operation for an owner operator.”
More restaurants and small business are available.Please contact Claire.
Claire Yoo Bus: Cell: 250.858.6775 Toll Free: Fax: 250.477.1150
“When dealing with Yoo, YOU ARE #1”
Century 21 Queenswood Realty Ltd.2558 Sinclair Rd., Victoria BC V8N 1B8
FOR SALE780 Kilmalu Road,
Mill Bay B.C.
RARE SALE OFFERINGLarge Parcel of Land on the Southeast Shore of Vancouver Island Next to the Mill Bay Nature Park, Steps from the Ocean, and 35 Minutes to Downtown Victoria.
An Outstanding Rural Acreage with Signifi cant Existing Revenue
DTZ Barnicke Victoria Ltd.888 View StreetVictoria B.C. CanadaV8W 1K2
Tel. (250) 382-3400Fax. (250) 382-1333www.dtzbarnicke.com
Amanda CrowderGriffi n Lewis
PURCHASE PRICE $4,750,000
74.4 Acres Improved with Two Single Family Homes, a Warehouse, and 54 Pad RV Park & Campground.
Visit www.dtzbarnicke.com/victoria
Subscribe1-800-661-6988
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WESTERN INVESTOR APRIL 2012 www.westerninvestor.com Vancouver Island A25
7% CAP with 21 year lease and vendors written 3 year guarantee. The lease comes complete with CPI protected fixed sums and percentage performance rent. Built in 2007, this offering represents fee simple strata titled real estate assets in Victoria BC.
Mark Litwin BA Econ, RI(BC), Associate Broker,
250 217 7765 [email protected]
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PROUDLYCANADIAN
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$495,000VIEW
BCPRIVATEISLANDS.COM
WARK REALTY INC.
604.946.8710
of Nanaimo
VANCOUVER ISLAND COMMERCIAL
FRANK JOHNSON JAY COUSINS JAY COUSINS JAY COUSINS
www.nanaimoremaxcommercial.com
1-877-335-4380Jay Cousins
[email protected] Johnson
1-877-423-0984Jay Cousins Realty
INVESTMENT OPPORTUNITIES
For Sale or for Lease. 1,425 Sq. Ft. & 1,100 Sq. Ft. space can be combined for lease. Units are on main level, air condition-ing, visual exposure & Strata Corp. has non-compete clause in Bylaws. Available for immediate sale or lease possession.
Main thoroughfare location has great exposure, paved lot, build-ing has 3 bay shop, storage, 2 offices, plenty of uses permitted. Motivated owner.
– 2 Level 4,000 Sq. Ft. building with 3,800 Sq,. Ft. showroom/warehouse, lots of parking & easy access. Industrial zoning has broad uses. 8 Leasable tenant offices/warehouse spaces show good income
Currently used as offices & union hall, approx. 6,990 sq. ft. over 3 floors. P1 zoning allows public assembly, but could be commercially rezoned.
– Parksville area. 6.2 Acres partially developed with new ware-houses, new 4 unit multi-res work/live space, new office building plus existing build to suit tenant in place on 1 acre portion w/paved & security fenced area. Further 2.5 acres left to continue development plan. Potential income under current configuration in excess of $164,000 annually. REDUCED
Y Approx. 79 Acres, corner location. Mining permit in place for pit run, crushing, screening & washing gravel. Owner has been careful to maintain character of the land. Currently zoned rural residential, property could find a higher & better development use.
INVESTMENT OPPORTUNITIES
600 sq. ft. dwelling on large 7,297 sq. ft. level lot. Layout includes 3 offices plus reception. Zoning allows multi-tude of uses including medical, dental accounting, legal etc .
on busy thoroughfare. Recent renovations show high end restora-tion of interior & exterior. Approx. 4,100 SqFt includes full kitchen for staff, patio seating, open modern plan. Easy access & paved parking. For Sale or Lease
Unique rural feel to property with fourplexes, duplexes, and single freestanding units. Redevelopment opportunity includes existing revenue stream, owners residence, large open area, City water and a motivated seller.
– Includes a turn-key pub/restaurant in a 1 ½ storey rustic log building. 10,000 Sq. Ft. of rooms & dining/eating area. Large deck takes in the gorgeous views. Over 4.9 acres of undeveloped land available for further ex-pansion. Info Portfolio available.
High visibility Mid-Island location, concrete engineered docks, steel pilings, security gate with ramps, direct metered 50 amp hydro capacity. Quality look and feel, no va-cancies, excellent cash flow.
110 Units with 29 steel containers offering extra rental space all on 2.5 Acre parcel. Additional rental income from residential & commercial ten-ants. Consistent 95% occupancy. Current Appraisal establishes asking price.
BUSINESSES Franchise Fitness Business South Nanaimo Used books / consumer services retail – Nanaimo Seasonal Wreath Business – Qualicum
Ricky’s All Day Grill Franchise – Courtenay
FOR SALE INVESTMENT OPPORTUNITIES 3 Unit Complex in prime tourist/business core with good expansion potential. Income at market rents could offer a possible 7% CAP rate.
6,000 Sq. Ft. over 2 levels, full renovations in 2005, new roof in 2011, income shows over 7% CAP rate at current occupancy. Quality tenants include upper end retail, MLA office, pilates studio
– Over 2 acres of land, ample parking, large stor-age warehouse & terrific highway exposure. Store specializes in animal feeds, garden products, groceries, produce & hardware. Inventory to be purchased separately on completion. Information Portfolio.
– 2 level man-ager’s residence with office/reception. Outdoor pool, no deferred maintenance issues, consistent highly profitable revenue shows 11% cap. One of the nicest hospitality properties in the mid-Island area.
on 3.63 Acres with over 2 acres undeveloped & ready for commercial development. High visibility, 85% capacity year round, outdoor RV & boat storage as well. Great business opportunity
100% Share Sale – 7.1 Acres of prime riverfront property, includes 36 Motel units, store, office, manager’s suite, cottages, 2 swim-ming pools, mini-golf & playground. Healthy profit picture for this exceptionally well maintained investment property
– Almost 2 acres of land fronting on the Millstone River, and next to the Pryde Vista golf course. Located next to a new high quality subdivision on a no thru street. Zoning allows for a single family unit with a suite/carriage house. Fully serviced.
- Vacant, 2,160 sqft warehouse. Undeveloped upper level with two large open areas, and two 2-piece washrooms. Main floor is accessed by a pedestrian door and 2 overhead doors. Lower level, of about 2000 sqft, accessed by a pedestrian door and 1 overhead door.
- approved for 16 units. No DCC’s, close to downtown Nanaimo with some ocean views. Development permit in place, vendor financing available or joint venture possibilities.
- Fully leased 1837 sqft commercial strata unit over 2 floors (935 sq. ft., and 902 sq. ft.). $22,000 per year net income.
- Approximately 21 acres of multi-family land, zoned R-6, Townhouse Residential. Municipal services to the lot line. Located close to the Beban Park Recreational facility, shopping, and many other amenities.
Brian Percival 250-951-6372
84 Unit Hotel “Across from the beach in sunny Parksville, BC“
- All units individually Strata titled- Almost $1 Mill in renovations recently completed- 2.6 acres highway frontage- 100 person conference room, swimming pool,
fitness center, liquor license, elevator- 9.5% cap rate- Absentee owner, tremendous growth
opportunity for “hands on ownership”
Visit www.parksvilletravelodge.com for a virtual tour
Asking $4,850,000 share sale
VANCOUVER ISLAND Comox Valley
www.robsamsom.caRE/MAX Ocean Pacific Realty
Rob Samsom AACI CCIM FRIPERSONAL REAL ESTATE CORPORATION
1-888-829-7205
SPACES FOR LEASE
Over 20' ceilings ....
Retail/Office/Warehouse (Strata)
........................................
On ½ ac, Courtenay
ac on 6.5 ac Campbell River
ac with 8 unit apt. building plus caretaker unit
36 site year round park located on north Vancouver Island. This park caters mainly to loggers. It is a 3 acre lot and includes 5 buildings, a 5-room Atco bunkhouse with attached kitchen, 3 single bunkhouses and a wash house. There are 6 years of financial records available. It generates between 50 to 65 k yearly with management in place.
Trailer Park For Sale on Vancouver Island
To contact for more information, call 250-453-2243
or e-mail : [email protected]
$540,000
A26 Vancouver Island www.westerninvestor.com APRIL 2012 WESTERN INVESTOR
PORT HARDY RIVERFRONT ACREAGEUnique opportunity! 3.6 riverfront acres easy access, level property on the banks of the Quatse River offers diverse development potential with multiple possible uses! Zoned light industry and located just minutes from Port Hardy on North East Vancouver Island. There are hydro, sewer and water services to the property, highway and river frontage and good road access. $339,000
703 FLOATPLANE OPERATIONLocated on the British Columbia coast, this fl oatplane operation is an established, profi table and well-situated business with an excellent asset base.
Domestic and International Licenses, share sale.
$1,350,000
AQUACULTURE OPPORTUNITIESRafts and growing equipment included. Productive growth sites in well-protected locations.
on West Redonda Island plus 1-acre oceanfront with cabin. Includes producing stock. $499,000
and lease on south end of Cortes Island.
Specializing in Unique Coastal Real Estate in British Columbia& SHELLEY MCKAY
www.bcoceanfront.com
ED HANDJA PERSONAL REAL ESTATE CORP.
SUBSTANTIAL VANCOUVER ISLAND ACREAGE in the Comox Valley on south
central Vancouver Island ideal for a signifi cant
. Over 3350m of Trent River frontage, a nice fl at topography and substantial highway frontage. This region provides access to year-round recreation as well as all essential services and amenities.
Your
monarkinvestments.caPlease visit our website or call for more details.
604-592-7250Financing Available. Potential Trades.
LANGFORD
COMOX
CONDO SITE APPROVED FORUP TO 188 UNITS
EXCELLENT LOCATION
LOCATED NEXT TOCOSTCO, FOUR POINTS
SHERATON, HOME OUTFITTERS AND OTHER HIGH PROFILE
RETAILERS
2.34 ACRES OF INCREDIBLE POTENTIAL $4,399,000
TWO PRIME LOCATIONS WITH HUGE POTENTIAL AS
CAREHOME OR CONDO SITES
EXCELLENT SITE FOR CAREHOME OR CONDO DEVELOPMENT
$3,000,000
CENTRALLY LOCATED AND ADJACENT TO MAJOR BRANDS SUCH AS:
SHOPPERS DRUG MART, SUBWAY, A&W
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
LOT 5 PENINSULA ROAD $345,000 Foreclosure. Ucluelet Inlet Development Land, 1.25 acre.
1871-1891 PENINSULA Rd $369,000 Three lots 18720 sq. ft. cleared, surveyed & topo survey available. Mountain & Inlet views. CS 5 zoning.
LOT 2 ST. JACQUES BLVD. $399,000 Forty unit multi-family dev. site. Fully serviced/underground. Central location.
LOT 33 & 34 RAINFOREST & LOT A MARINE DRIVE $695,000 Three commercial/residential mix properties. Possible multi-family. Well located
LOT 1 MARINE DRIVE $750,000 1.58 Semi-Waterfront fronting Big Beach Park. CD 2 zoning, neighbourhood pub among options available.
1766 CYPRESS ROAD $196,500 Village Square harbour view. Former fishing village home converted to offices.
Business Is Better On Vancouver Island
Tel: 1 800 769 5757 www.dtznanaimo.com
For Sale2.05 Acre Prime Development Site - North Nanaimo $2,900,000On Old Island Highway adjacent to Long Lake.
Light Industrial Land and Buildings - Chemainus $1,995,0003.83 acres with 5 buildings on site.
253 Acre Development Property - Sproat Lake Area $1,700,000Commercial Land and Building - Downtown Parksville $1,495,0000.85 acre with 3,870 sq ft building on Island Highway.
3.79 Acre Light Industrial Land - South Nanaimo $1,395,000Suitable for single or multiple users/uses and subdividable.
Strata Commercial Unit - Central Nanaimo $ 849,0004,417 sq ft office with 12 offices, boardroom, reception and lunchroom.
Commercial Development Property - Nanaimo $ 795,0001.2 acres with CC-1 zoning beside Nanaimo Parkway.
Commercial Re-Development Property - Downtown Nanaimo $ 695,0002 legal lots on Victoria Crescent with 4,900 sq ft building.
Lakefront Pub and Land - Lake Cowichan $ 674,000Approximately $300,000 spent on improvements since February 2009.
3.46 Acre Light Industrial Property - South Nanaimo $ 549,000Residential Development Property - Nanaimo $ 479,0004.88 acre property near the Nanaimo Parkway.
Commercial Land and Building on Island Highway - Campbell River $ 419,000Vacant 0.92 acre property.
Commercial Land and Building Zoned DT-2 - Nanaimo $ 395,0001,395 sq ft office building in Old City Quarter.
Commercial Property Zoned COR-3 - Nanaimo $ 325,0002 lots on Kerrisdale Road totaling 19,600 sq ft.
Character Office Building - Nanaimo $ 279,000950 sq ft, high traffic area. Corner lot, 4,050 sq ft, zoned DT-8.
Commercial Property Zoned COR-3 - Nanaimo $ 260,0009,800 sq ft lot with 1,037 sq ft office off Bowen Road.
Hangar Building and Office - Campbell River Regional Airport $ 249,000Light Industrial Strata Unit - Nanaimo $ 219,000Approximately 1,315 sq ft unit new and unused for your business.
Light Industrial Strata Unit - Central Nanaimo Call for DetailsLarge warehouse with appointed office space.
Gerry Van Vaals Personal Real Estate Corporation DTZ Barnicke Nanaimo Ltd. [email protected]
Business OpportunitiesSEWING MACHINE AND QUILTING RETAIL BUSINESS—Nanaimo $ 180,000
FRANCHISED FAMILY RESTAURANT—Ladysmith $ 189,000
AWARD-WINNING KITCHEN AND BATH BUSINESS—Sidney $ 199,000
ESTABLISHED PLUMBING AND HEATING BUSINESS—Nanaimo $ 225,000JUMPING JIMINY’S PLAYLAND AND CAFÉ—Nanaimo $ 399,000Well known children’s entertainment business
WHOLESALE DISTRIBUTOR BUSINESS ONLY—West Coast Vancouver Island $ 549,000
ESTABLISHED PLUMBING AND HEATING BUSINESS—Nanaimo $ 550,000On 7,560 sq ft lot with 1,300 sq ft building
RETAIL BUSINESS & DEMOLITION CONTRACTOR—Central Vancouver Island $ 775,000New and used building materials
WHOLESALE DISTRIBUTOR—West Coast Vancouver Island $1,295,000On 1.039 acres with 7,320 sq ft building
LIQUOR STORE IN LEASED PREMISES—South Vancouver Island $1,500,000
PUB AND LIQUOR STORE—Coombs $1,900,000
FRANCHISED MOVING AND STORAGE CO.—Central Vancouver Island $2,550,000LIQUOR STORE WITH LAND AND BUILDINGS—Port Alberni $2,900,000With Commercial Tenant
Featured ListingsInvestment 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 $2,775,000Heavy 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 $2,000,000
Approved for a Complex Care Facility - Ladysmith $ 1,700,000
5 acres of oceanfront with plans in place for a 24 unit facility.
Saratoga Beach Golf Course - Black Creek $ 1,419,000 37.47 acre redevelopment property with executive style golf course under foreclosure.
Unique Commercial Offering - Downtown Nanaimo $ 1,375,0005,500 sq ft warehouse/shop, 1,400 sq ft house and parking lot.
Green Rock Industrial Park24 Light Industrial Lots in prime Nanaimo Location 9,710 to 59,376 sq ftExcellent highway access and “Green” construction. $199,000 to $834,000
Call the
marketing your franchise?
1-800-661-6988 • (604) 669-8500 • westerninvestor.com
WESTERN INVESTOR APRIL 2012 www.westerninvestor.com A27
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: Re/Max Crest Realty (Westside), Vancouver. Re/Max listing agents JT Lee and John Lee of Re/Max Central, with selling agent Terry Stephenson of Royal LePage Wolstencroft, announce the following sale:Deal: 9,724-square-foot industrial property on 0.62 acres on 202 Street, Langley. Sold at a 4.81 per cent cap rate. Price: $1.47 million.
From: DTZ Barnicke, Vancouver. DTZ Barnicke commercial agent Ryan Saunders announces the following.Deal: 8,531-square-foot light industrial build-ing, West 8th Avenue, Vancouver. Recently renovated. Sold to an owner/occupier. Price: $1.70 million.
From: DTZ Barnicke, Vancouver. DTZ agent Conor Finucane reports the follow-ing sales: Deal: 8,500-square-foot building, zoned light industrial/office, on West 8th Avenue,
Vancouver. Sold to Digitel Film Group. Price: $3.50 million.Deal: 9,076-square-foot office/warehouse building on 9,052-square-foot lot, West 5th Avenue, Vancouver. Sold to Aeon Stone. Price: $2.66 million. (Note: Information on these sales was published incorrectly last issue.)
From: HQ Realty Ltd., Vancouver, HQ agents David and Mark Goodman report the following sales:Deal: 24-suite apartment building, Stewart Avenue, Nanaimo. Price: $2.07 million.Deal: 22-suite apartment building, Selkirk Street, Vancouver. Price: $3.85 million.Deal: 31-suite apartment building, Burlington Street, Burnaby. Price: $5.00 million.
From: NAI Commercial, Vancouver, NAI vice-president Terry Harding and associate Jackson Tang report the following sales:Deal: 42-unit apartment building, Port Moody, could be strata. Price: $11.28 million.Deal: 29-unit apartment building, West 2nd Avenue, Vancouver. Price: $9.20 million.Deal: 25-unit apartment building, Laval Street, Coquitlam. Price: $2.95 million.
Deal: 16 rental apartment suites, plus four commercial stores. Nelson Street, Burnaby. Price: $3.38 millionDeal: 14-unit apartment building, Point Grey, Vancouver, near UBC. Price: $5.20 million.Deal:12-unit apartment building, Carnarvon Street, New Westminster. Price: $1.8 million.
Recently completed a major commercial real estate deal? Send details for a free report here to: [email protected].
Our readers report on new commercial real estate deals across Western Canada
Industrial building, Langley, sold for $1.47 million.
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42-suite building with strata potential, Port Moody, sold for $11.28 million
Industrial building, Vancouver, sold for $1.70 million
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NANAIMO & VANCOUVER ISLAND PROPERTIES
D E V E L O P M E N T S I T E S & L A N D
NANAIMO DUPLEX 3 bedrooms per side, 2 separate titles. Excellent income. $424,900
JUST LISTED 21 UNIT TOWNHOMES REVENUE PROPERTY ON THE GOLF COURSE. 2 & 3 bedroom units, private patios. Monthly income: over $20,000, assumable mort-gage. Ideal property to hold or strata conversion. $2,875,000
6 ACRE DEVELOPMENT SITE Zoned RM5, 4 Phases approved for townhome & condos. Central Nanaimo.
Asking $2,390,000 FINANCING AVAILABLE
5 RENTAL HOMES – All together 5 sep. adj. lots. Starting at $169,900 or all for $1,150,000. Seller will finance.
12 UNIT APARTMENT BLOCK. Renovated. $8,000/monthly revenue. Financing available. $1,180,000
STRIP MALL Across the road from the beach, 10,200 sq.ft.3 commercial spaces. 4 strata condo rental units. Monthly income over $11,000 ASKING $2,250,000
5 PLEX NANAIMO 5 meters, over $4,500 monthly revenue. Covered park-ing. Storage lockers. Separate meters.Asking $749,500
OCEANVIEW 3-PLEX South Vancouver Island. Excellent In-come. 3 separate titles. $369,000
NORTH ISLAND HOTEL & PUB, WINE & BEER STORE 30 renovated rooms generating $8,000 monthly. $1,595,000
JUST LISTED; FANTASTIC OCEAN VIEW RM-5 Dev site, unrestricted views, overlooks cruise ship
pier. Approved for 35 condos, No DCC’s. $729,000
DEPT BAY BEACH FRONT HOMEThis smaller 2 bedroom home awaits your ideas. Great year round or vacation home, swimming & beach right out off your front veranda. $649,000
38 Front Street Units for sale. Walk-on waterfront townhome $509,000 no HST. Call Dale for other units available.
PACIFICA OCEAN FRONT CONDOS
DALE SHORTT Bus: Toll Free 1-800-665-8313
C O N D O S & H O M E S
FORECLOSURE COURT ORDERED SALES H O T E L S & P U B S INCOME PRODUCING + REVENUE PROPERTIES
2 ACRE COUNTRY LOT ZONED FOR 2 HOUSES Allows for Bed & Breakfast, dog kennels, country market,
campgrounds. City water. $298,000
23 ACRES $459,000 50 ACRES, $995,000 43 ACRES $859,000
Adjoining properties, 1 mile from city limits, Zoned for 5 acre lots
COUNTRY ESTATES DEVELOPMENT SITE
FULL FACILITY SUPER 8 MOTEL Central/southern Vancouver Island. High profile Location. 35 rooms, + 20 suites with leased 125 seat pub and Smitty's 120 restaurant. 1.5 acre property on Trans Canada. $3,600,000OCEAN VIEW DEVELOPMENT SITE
21 condos or 8 townhomes. $379,500
3 ACRE TOWNHOME DEV SITEStunning ocean view up to 30 units. $995,000
1.0 ACRE COMMERCIAL DT 11 ZONED PROPERTY With 3 separate buildings. Used formerly as Sunglow Lumber & 2nd hand store outlet. Property is assessed
value over $1 million. $569,000
WATERFRONT CONDO TRADES WELCOME $425,000With swimming pool and hot tub and boat moorage. 2 bedroom, 2 bathroom in Yellow Point. Seller will finance with low down or take trade! Owner will take a condo in Vancouver in trade.
THE GLOBE HOTEL $1,395,000Opened in 1887 – restored 3 storey masonry building. Home to 145 seat pub restaurant. Full functioning kitchen. 8 – 1bdrm suites. Great investment & return.
NANAIMO RESTAURANTFOR SALE OR LEASE Land, building plus parking lot. Fully equiped. Beautifully reno-vated. $728,000
NANAIMO BEST BUY! MIDRISE DEVELOPMENT SITE Located in the Downtown core. Nanaimo:
Commercial or condo site. $269,000 NOW $199,000 Excellent Buy
www.yellowpointmemo
OceanPointe
A28 www.westerninvestor.com APRIL 2012 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
Bob Plowright RE/MAX Bob Plowright Realty CHILLIWACK, BC 1-800-830-7175 - 604-858-7179 [email protected]
www.bobplowright.com
FOR LEASE IN CHILLIWACK
Near Courthouse/City Centre Space available 1091 to 1665 sq ft
Lease from $10-$12/sq ft
Commercial Retail/Office On Site Parking - Zoned CSM 2 Units (1,472 & 2,671 sq. ft.)
Lease $9-$10/
sq ft
Office and/or retail space Up to 4,450 sq. ft. Full HVAC 9 private offices, reception etc.
Lease $9/sq ft
FOR SALE IN CHILLIWACK
High Visibility, on busy main road From 746 sq. ft. to 2,697sq. ft. On site parking
Lease From
$8/sq ft
.29 Acre lot zoned CSI Commercial on bottom floor Residential on top floor Fully leased ± 3,798 sq. ft.
building
INVESTMENT PROPERTY
SALE $598,800
14.35 Acres of land Includes 6 Bdrm Home +
70 x 80 Barn Also available w/separate
title 7.5 acre land
CHWK ACREAGE - 2 TITLES
SALE - FARM: $795,000 LAND: $419,000
HIGH PROFILE RETAIL
Fully Rented 12 unit townhome Complex Located in Hope, BC .629 acres Lot Opportunity to increase value
SALE $889,000
FORECLOSURE PROPERTY
2 kitchens, 2 washrooms, 2 reception areas, 15 offices, 7000 sf hangar with 2 x 2.5 ton hoists etc. Can be leased separately.
AIRPORT HANGAR W/OFFICE
SALE $850,000 or LEASE FROM $6/s. f.
Good street exposure Plenty of City Parking Renovated in 2007 11,293 sq. ft. lot
SALE $695,000
BUSINESS FOR SALE
Mixed use 3,250 sq. ft. 3 bdrm residential suite 4 Bays, in floor radiant
heat and individual meters
LIVE/WORK OPPORTUNITY
SALE $689,900
Liquor Store & Pub, on 1 acre of land Located on busy road Price includes: business,
land, equipment and building
BUSINESS & PROPERTY
Harrison Hot Springs-SALE $599,900
Sandwich Tree Franchise Easily run by couple or
family This business makes
money
2,843 sq. ft. 4 Bdrm Home 1 Acre Industrial Property Zoned CD14 - Outside
Storage
LIVE/WORK PROPERTY
SALE $579,900
23,756 sq. ft. lot located on corner intersection Partially finished building Develop and realize profit
SALE $690,000
16 SUITE MULTI FAMILY DEVELOPMENT SITE Offered at CAP RATE of 5.69% Comprised of 2 separate titles .78 acres Future Development Site In City’s Official Community Plan 28 to 54 units per acre, 4 storey residential
SALE $1,295,000
Perfect for new or small investors Currently leased by the BC Liquor Control Board as a liquor store since 1996 Located in downtown Agassiz, BC Easy to own, easy to manage
IDEAL INVESTMENT PROPERTY
SALE $519,900
Lease From
$12/sq ft
Lease From
$6/sq ft
Lots of city parking close by 2 Office spaces upstairs Located in busy downtown area
Retail 2,270 sq. ft. on 1st floor Excellent exposure on busy road Plenty of on-site parking
MULTI-FAMILY COMPLEX
SALE $59,900
RAY YENKANA CCIM, ABR
www.rayyenkana.com (listing details)Follow me on Twitter @rayyenkana
RE/MAX LITTLE OAK REALTY
“LOOKING FOR SOME HELP IN STARTING OR EXPANDING YOUR INVESTMENT
PORTFOLIO, LETS CHAT, COFFEE ON ME.”
Fort St John, Investment
opportunity. Well kept up,
l ight Industr ia l bui ld ing
in Prospect Park close to
Highway. 5 bays, offices on
main and above with lunch
room. Fenced yard with stor-
age sheds. $1.1 Million .
and come own this turnkey
biz in Abbotsford. Auto Body
biz for sale. $159,000.
building in Dawson Creek,
BC.
DEVELOPMENT SITESBURNABY Rare opportunity to buy, subdivide and develop 2 downhill Cul-De-Sac residential lots in Montecito area of Burnaby! 11,000 sq. ft. lots will take 4700 sq. ft. houses. For Developer/Builder only. $650,000 CLS # V4029426 – Call or email David
DAVID KEARNEY [email protected] Free: 1-888-942-0606RE/MAX SABRE REALTY
COMMERCIAL BUYER/TENANT REPRESENTATION
Have you done a proper Lease vs. Buy Analysis? A CCIM provides more resources than other Realtors can! Have your Commercial Professional source your requirements: Properties, Bylaw Compliance, Investment Analysis, Negotiations. Call or email David! YOUR AGENT works for YOU!
IN CONTRACT
RE/MAX 2000
DAVE ABBOTT 1-888-296-8060 [email protected]
An ideal opportunity for any individual, family, or group purchaser. This working cattle ranch also prvides a private year round playground that may be coupled with a significant bed and breakfast business. Go hunting, fishing, hiking or horseback riding for miles on trails suitable for ATV’s in summer and snowmobiles or cross country skiing in winter. Snowboard and ski the ranches own private downhill run. Currently set up to raise 250 to 300 head of cattle this ranch is Located just off HWY 97, 20 minutes South of Quesnel B.C. The 768 acre property has 5 titles plus approximately 3000 acres of attached range lease with water licence for irriga-tion. Beautifully finished and landscaped the 10 yr old 1730 Sq. Ft. ranch house has a panoramic view of the Fraser River Valley. Also included a 1400 sq. ft. cabinet shop, a 24’x40’mechanic shop, a 2880 sq. ft. machine shed, a bunk house, a 3 yr old 72’x80’ hay barn, and a large older log barn for cattle and 100 tons of hay.
Excellent value! Offered at $960,000 Call or email [email protected] for additional pictures.
RE/MAX TREELANDCALL ROY MUFFORD 604-533-3491
SPECTACULAR VIEW 36.4 ACRE PROPERTY – ABBOTSFORD One of a kind awesome view, overlooking Fraser river & Valley farms. Ideal building site for the exclusive country estate. Fully useable farmland for berries or livestock. $2,188,000
768 ACRE 5 TITLE CATTLE RANCH AND PLAYGROUND
61.85 ACRES - FRASER VALLEYA1 Zoning, 2547 sq. ft House, second dwelling allowed, 30’X114’ Shop 14 ‘ doors, 400 Amp power, 3 phase available, city water plus water license for irrigation, good flat land 3 Barns 72’X160’, 50’X115’, 69’X97’ plus other buildings
Great buy at $2,400,000
RETAIL LEASE SPACE Two retail s t o r e f r o n t s o f approximately 975 sq ft each : take one or both. Prime retail exposure in a high traffic corridor on the border of Coquitlam and PoCo. $18.00 Sf. Close to Coquitlam Centre. Cls # v4029643 – Call or email David
RETAIL STORE FOR SALE ‘2568 Kingsway Ave in Port Coquitlam – presently a convenience storeProperty only for sale not the business – don’t ask for business numbers please821 Sq. Ft . $339,900.00 CLS#V4030247 – Call or email David
THE ART OF BUSINESSLong standing business in art school instruction, art framing and Giclee printing. Good street location in Walnut Grove and good list of regular students plus instructors. Expand the framing and print business for extra profit. Fine chance to explore your talent in busi-ness and art. $199,900 so call me today for details.
JEREMY SUTTON 604-657-8921 RE/MAX TREELAND