western investor december 2011 section b
DESCRIPTION
Commercial Real Estate, Franchises and Business Opportunities in Western CanadaTRANSCRIPT
5 OUTLOOK FOR HOUSING 2012 Prairie sales and prices seen stable and strong
$ 4 . 2 9 D E C E M B E R 2 0 1 1 V o l . 2 6 / I s s u e 1 2INTERIOR B.C. • ALBERTA • SASKATCHEWAN • MANITOBA SECTION
12 AVIAWEST SEEKS SHELTER Facing near $100M debt, B.C. resort developer wins extension for creditor protection
23 BATTLEFORD EYES OIL BOOM City rushes land sales to meet developer demand
27 STEVE NASH HITS HAT TRICK Basketball superstar proves expertise in thesports franchise arena
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Ralph Fyfe, president of Winnipeg Realtors Assoc.: “We are in for a very healthy market in 2012.”
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R E C R E A T I O N A L R E A L E S T A T ER E CR E CE C R E AR E AR E A T I OT I OI N A LN A LN A L R ER ER E A LA LA L E S TE S TE S T A T EA T EA T EHOT PROPERTIESSPECIAL SECTION • B12
B2 Interior British Columbia www.westerninvestor.com DECEMBER 2011 WESTERN INVESTOR
Colliers InternationalCentre GroupCommercial RealtyKelowna, B.C.250.763.2300
www.colliers.com/kelowna
Colliers InternationalCentre Group Real Estate ServicesKamloops, B.C.250.372.7000
247 BRIDGE STREET, PRINCETON
List Price: $1,175,000BOB GAULEY
DOWNTOWN KELOWNA
List Price: $1,080,556
264 LOUGHEED ROAD, KELOWNA
List Price: $2,900,000
MULTI TENANT INDUSTRIAL, PENTICTON
List Price: $1,930,000
OFFICE BUILDING,PENTICTON
JEFF HUDSON* & MARSHALL MCANERNEY* *PERSONAL REAL ESTATE CORP. www.bcip.ca
PRINCETON INDUSTRIAL ESTATES
MIKE GEDDES
FOR SALE
JACK SHABBITS & ERIC WEBER*
COMMERCIAL BUILDING, SUMMERLAND
MEGHAN O’MARA
TOWER RANCH GOLF RESORTMULTI FAMILY DEVELOPMENT
Reduced from $22,500,000 to $14,500,000
CHAD BIAFORE & MARSHALL MCANERNEY** PERSONAL REAL ESTATE CORP.
1ST TRAIL REAL ESTATE LTD.
(250) 231-5222 (CELL)
(250) 368-5508 (FAX)www.cbcworldwide.com www.coldwellbankertrail.com
COLDWELL BANKER COMMERCIAL WORLDWIDELARGE CONSTRUCTION PROJECTS UNDERWAY IN OUR AREA
C-STORE, GAS BAR, LIQUOR STORE, POST OFFICE
Reduced to $749,000
30 UNIT APARTMENT GREAT LOCATION NICE SHAPE
PRIME RIVER VIEW LOCATION, BUS STOP IN FRONT, MAINLY SENIORS,
ALWAYS FULL $1,650,000
52 UNIT APARTMENT COMPLEX
28 UNITS STRATA TITLED
PRICE $2,995,000
HOTEL, LIQUOR STORE, RESTAURANT $549,000
COURT ORDER SALE
BLOCK MOTELNINE UNIT & MOBILE HOME
REDUCED TO $695,000
DEVELOPMENT PROPERTY $669,000
TIME & PLACE5 ACRES 5800 SQ. FT. BUILDING CURRENTLY RESTAURANT & PUB
CHRISTINA LAKE $489,000
EUROPEAN BAKERYHIGH VOLUME
OWNER RETIRING, WILL STAY ON
AND TRAIN$300,000
100 ACRESLARGE INDUSTRIAL SITEMAJOR POWER LINE
MAJOR GAS LINE POTENTIAL COGEN SITE
$750,000
PROPOSED24 LOT DUPLEX
SUBDIVISION 4TH STAGE OF EXISTING
SENIOR HOUSING DEV.
$888,8004000 Sq. Ft. plus 2500 Sq. Ft. building
now leased. $4,000 per month triple net.
MILANO PIZZA & CHICKEN TAKE OUT $169,000
Excellent Volume. Vendors will train.
Price Reduction
Gerry McCasky (250) 231-0900 Jack McConnachie (250) 231-5222
#100-1553 Harvey Ave., Kelowna, BC V1Y 6G1
A VERY RARE OFFERING in the Cedar Avenue Land Use Area. OCP delineates Commercial C4 or C9 zoning. This revenue producing two storey “Inn” under a B & B License incorporates 2 separate kitchens, 8 bedrooms, 5 bathrooms with 3 full living areas in the +/- 3, 887 S.F. of Living area. 21’ above ground pool & 8 man hot tub accentuate the lakefront lifestyle across from a future park/beach/lake access in a convenient walk to everything in the South Pandosy corridor. Asking: $1,650,000 + HST MLS®
GREAT LOCATION IN THE PANDOSY CORRIDOR - TO BE BUILT ! Priced individually - New Strata Commercial/Residential Mix building. Commercial bays on 1st & 2nd floors. Main floor - $557,420 for 1,378 sq.ft. 2nd floor $1,216,499 for 3,307 sq ft. 3rd floor Penthouse - residential priced at $834,640 1,834 sq ft & $711,450 1,581 sq ft each. All measurements to be verified by survey. The building can be purchased for $3,000,000 net usable 8,100 sq. ft. Call Ken or Kris for details.
PRICE REDUCED! BUILDING AND LAND FOR SALE at Reid’s Corner - Commercial Strata. Building approximately 4,212 sq ft. Current zoning C10 – Commercial Mixed use. Easy access from Hwy 97N and close to Kelowna’s International Airport. This property is also available for Lease. Asking: $550,000 or Lease at $11.00 psf plus NNN + HST MLS®
PRIME SERVICE COMMERCIAL LEASE support your business that requires an open retail bay, boardroom, offices and bonus mezzanine. Footprint 3,324 sq. ft. and 1,415 sq. ft. mezzanine. Prominent location on busy Leckie Rd. Ideal for Service Commercial Professional. Can convert bay doors for shop space. Busy area. Asking: $4,000 per month + Cam, Taxes + HST MLS®
PRIME DEVELOPMENT SITES – WINFIELD TOWN CENTRE FULLY SERVICED AND
READY TO BUILD3.83 ac. Commercial Site
w/drive thru
Retail/Hotel Space
Office Space
2.67 ac. Senior Housing Site
Both Sites 6.5 Acres – New Price $6,500,000 MLS®
(Plus DLC – Latecomer Charges)
RARE NEW FEE SIMPLE MIXED USE BUILDING! Approx. 6,581 sq. ft. - 3 residential suites & 4 commercial Stratas including a full height basement to utilize for storage, etc. It’s a BUY! Newly constructed corner fee simple mixed use building is completed, 2nd floor 3 Residential tenanted Suites. Main floor consists of 3 commercial strata units, approximately 3,354 sq. ft. - ideal for retail, professional or commercial use. Superior construction! Commercial bays are available for viewing at any time. Asking: $2,000,000 for Building, Asking: $1,2000,000 for Main Floor Commercial Space plus HST MLS®
APPROXIMATELY 115.68 ACRES Land assembly in North Glenmore / University District. Minutes from Kelowna’s International Airport. One side abuts golf course in Quail Ridge subdivision. Property is fenced. Lot D 70.80 Acres $5,318,000Lot 1 15.63 Acres $1,315,800Lot 9 11.62 Acres $ 962,200Lot 10 9.10 Acres $ 773,500Lot 8 8.98 Acres $ 763,300This assembly comprises 5 lots that can be purchased individually or as a complete package. Call Ken or Kris for details. Asking: $9,132,800 MLS®
NEW TILT UP INDUSTRIAL BUILDING - LEASE SPACE on McCurdy Rd - 4 Industrial Bays available. 3 units approx. 1,569.6 sq ft. Corner unit also available 735 sq ft. Warehouse, electric, 200 amp., 3 phase power. Open parking. Ready for your improvements.Asking: $12.50 psf plus CAM MLS®
RETAILER WANTED – OFF BERNARD AVE. Retail main floor, good parking, for Lease - recently combined into approximately 1,990 sq ft of main floor Office or Retail Space on St Paul. Central downtown location, close to shopping restaurants and bus service. Available For Lease: $2,239 plus TNet and HST MLS®
SENIOR CARE ZONINGApproximately 2.06 acres vacant land in Westbank on Elliott Road. Located in an area which is increasingly being developed into commercial properties. Currently zoned R3D - permitting congregate housing, minor home based business, major day care centre, group or accessory buildings and structures. Asking: $2,500,000 + HST MLS®
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
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HOT PROPERTIESFEATURES5
Prairie centres expected to see higher sales, prices
17 Governments make up nine of top 10 employers
Download a PDF of all our Regional Roundups online at www.westerninvestor.com
23 Experts see rush of investment near northern fields
COLUMNS7 9 21 25 27
On the coverWinnipeg realtor executive Ken Fyfe sees continued strength in housing market into next year.Photo: Ruth Bonneville
B4 Interior B.C./Business Opportunities DECEMBER 2011 WESTERN INVESTOR
For more information contact:
ROSS PRIEST (Owners’ Consultant)
(250) [email protected]
One of Southeast BC’s Most Successful Family Owned & Operated Dining In & Catering
Will Sell Building as an option6500 Sq Ft Modern Building
East Kootenay, BCFAMILY RESTAURANT
BUSINESS
FOR SALE $1,200,000
Call 604-722-1282 for information
FULLY LICENSED PUB & RESTAURANT
F O R S A L E Located in Kamloops overlooking the Thompson River. 300 seats, 3 patios,
and well equipped kitchen.
OKANAGAN – B .C . INTER IOR I N V E S T M E N T O P P O R T U N I T I E S
VADIM KOBASEWC O M M E R C I A L R E A L E S TAT E S P E C I A L I S T
250-492-2233 / 1-800-567-6770RE/MAX FRONT STREET REALTY, PENTICTON, B.C.
TOWN HOMES WITH STORAGE ...FOR ALL YOUR TOYS !ONLY 7 HOMES LEFT
www.cactusfl ats.caOffered at $299,000. Call about winter pricing incentives.
NORTH OKANAGAN SELF STORAGE
Asking Price $4,695,000
$100,000 PRICE REDUCTION - CHRISTINA LAKE CAMPGROUND
New Asking Price $699,000
FIRST TIME ON THE MARKET IN OVER 20 YEARS!
FORECLOSURE SALE - FORMER GOLF COURSE
Asking Price $1,200,000
$300,000 PRICE REDUCTION !PRIME FARM-HOLDING LAND - OSOYOOS
New Asking Price $1,695,000
BUSINESS AND INVESTMENT OPPORTUNITIES
– Suitable for investor or owner/operator. Includes land & buildings.
– 9 bedrooms, 7 bathrooms on spacious lot. Built in 2008. Has all amenities needed. Well-priced at
– 2 Tenants – 8.5% Cap
– 3 Tenants - Well Established
– Future Highrise expansion
– Hwy Frontage – Secure Yard
COMMERCIAL BUILDINGS
DWIGHT VOSphone: (250) 554-4511
toll free: 1-866-456-0577 BEST-WEST REALTY LTD. KAMLOOPS
email: [email protected]
Call BO SKAPSKI for more information: 2 5 0 - 8 0 8 - 5 5 0 8 [email protected] www.BoKnowsHomes.ca
I N V E S T O R A L E R T ! G R E A T O P P O R T U N I T Y !
Eleven 2-bedroom stratifi ed townhouse-style apartments for sale. Own 11 of the 18 units! Refurbished in 2008, all units tenanted. In-suite laundry, storage units, plenty of parking. Good location. $1,975,000.
www.445Holbrook.com
SKI RESORT S U N P E A K S
Come join the fun and own a piece of paradise in one of Canada’s top 3 ski resorts.
$519,000 - 44 – 5000 SUN PEAKS ROAD
Beautifully designed and tastefully decorated 3 bedroom/3.5 bath side/side townhome. The award winning architectural design and curb appeal makes TRAILS EDGE a desireable Sun Peaks location. True ski-in/ski-out property backing onto the Morrisey ski run and forested ski terrain. This beautiful recre-ational property has recently been updated with new furniture & freshly painted in today’s contemporary colours. Open fl oor plan with vaulted ceiling, cozy gas fi replace, gourmet kitchen, granite throughout, stain-less steel appliances, heated tile fl oors and your very own private hot tub off the family room. Secure single car garage. Square footage - 1,797. HST Paid
$489,000 - 55 – 5000 SUN PEAKS ROAD
Prime Ski-in/Ski-out location at the Award Winning TRAILS EDGE townhome development. Located at the top of Trails Edge, you can ski right to your back door. After skiing, relax by the cozy rock fi replace or soak in your personal hot tub. 3 Bedroom/2 en-suites/1 Bath, comes fully furnished. Extra sleeping space in newly constructed family room in the base-ment. Secure single car garage. Square footage – 1,876. HST Paid
$267,000 – 20 – 2120 SUN PEAKS ROAD
This fabulous 2 bedroom/2 Bath condo at SUN MOUN-TAIN VILLAS is attractively priced at $267,000, with gorgeous mountain views and backing onto the Valley Trails and the Graham Cook designed golf course. Condo has recently been updated in today’s contemporary design, with sophisticated lines and ef-fi ciency in mind. Top of the line stainless steel appli-ances included along with some furnishings. Private secured single car garage with extra parking out front for 1 more car. Square Footage – 994. HST Paid
$299,000 – 36 – 6005 VALLEY TRAIL
The 2 Bedroom/2 Bath condo at CRYSTAL FOREST, is ideally located just a short walk to the main village, skating rink & recreation centre. Ski-in location and a short 5 minute walk to the Morrisey Lift or the main lifts in the village. Fully furnished, cozy gas fi replace, ski-locker, owners lockoff and 2 underground parking stalls. High speed internet and cable included in main-tenance fees. Square Footage – 850. HST paid.
$219,000 – Lot 19 - 5322 LOOKOUT RIDGE
LOCATION LOCATION LOCATION. This dream home building site offers exceptional ski-in/ski-out access from your front/back door. Larger Lot with beautiful panoramic views of the mountains. Generous build-out period. Building access from the front and back. Owner purchased property for $279,000 – he wants it sold and has reduced the selling price to $219,000. Lot square footage – 10,818.
$319,000 – 117/118 – 3190 CREEKSIDE WAY
COMMERCIAL BOUTIQUE space in the well located FIRESIDE LODGE. A total of 819 Square feet suitable for retail/offi ce space. Located in the heart of Sun Peaks Village with all the amenities that Sun Peaks has to offer. Sun Peaks is a world class ski resort located only 45 minutes from Kamloops, B.C. Time to get in now for the upcoming 2011/2012 ski season.
FOR MORE INFORMATION ON THESE PROPERTIES AND OTHERS AT SUN PEAKS RESORT, PLEASE CALL:
DEBORAH PETERSMEYERM C M R E A L E S T A T E L T D .(OFFICE) 250-372-2277 (CELL) 250-819-1108
WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com B5
COVER Residential outlook for 2012 positive for both home sellers and landlords right across the Prairies
Please see Rentals page B6
DAVE HUSDAL, CALGARY GEOFF KIRBYSON, WINNIPEG
WESTERN INVESTOR
fter a slower start to 2011, hous-ing starts are ratcheting upward in Alberta’s two largest cities.
Calgary’s housing starts were up in August 2011 over the same month a year ago – mark-ing the first month in a year that single-family housing starts have increased over the previous year.
Overall, according to Canada Mortgage and Housing Corporation data, Calgary area housing starts were up 44 per cent to 1,237 units in August 2011, from 858 a year ago.
While that’s a positive trend for builders and developers, year-to-date housing starts in the region were off 18 per cent for the first eight months of 2011 to 5,425, down from 6,641.
Single-family starts comprised 3,350 units, or a little more than 61.7 per cent of starts.
Things were also looking up in the Edmonton region in August.
Edmonton area housing starts were also up in August, from 690 starts for the month last year, to 805 units this year. That 17 per cent hike is below Calgary’s, but still positive.
Year-over-year housing starts were still down in the capital region, falling 16 per cent from 7,018 last year to 5,890 in 2011.
Multi-family starts have been the key driver this year in Edmonton, according to CMHC. They’ve been running almost even with 2010, with 2,691 recorded for the first eight months of this year. That’s close to 46 per cent of all Edmonton area housing starts.
“Notable gains in apartment construction have pushed year-to-date multi-family starts to
just nine units shy of the production pace last year,” notes CMHC’s Edmonton area housing update for September.
Colliers International predicts the demand for new and existing apartments in the Edmonton market will be healthy for sellers in 2012.
“When quality product does come to mar-ket, the result is usually a multiple bid scenario. There simply isn’t enough product to satisfy the appetite out there,” Colliers says in its latest Edmonton multi-fam-ily update. “If there’s any advice we can offer owners contemplating sale – if your building is well maintained, the number of interested buyers will signifi-cantly increase.”
While 2011 housing starts are down overall in Edmonton and Calgary, both markets have seen prices of new homes rise. In Calgary, for example, the median selling price for a new single-family hit $480,271 in August 2011, up 9.6 per cent from August 2010.
CMHC pegs the price increase in Edmonton much lower, only 4 per cent from August 2010 to August 2011. The latest median price for Edmonton was $452,424, about 5.8 per cent below Calgary.
Housing starts in Edmonton will rise 11 per cent in 2012 to 10,100 units, compared to 9,100 units this year. Nearly 4,000 of these new homes will be multi-family units.
Calgary will post only 8,500 housing starts this year, but will see an 11 per cent surge in 2012, to 9,400 new homes, CMHC suggests.
The upturn in both cities is based on stronger job and immigration growth and persistently low mortgage rates.
The average new detached house price in Calgary is expected to increase 1.3 per cent next year to $548,000, and up even more mod-estly in Edmonton, to $520,000.
Total rental units started in the Calgary market for the first eight months of 2011 hit only 49. In stark contrast, CMHC identified 604 starts for the rental market in Edmonton for the first two thirds of 2011.
The forecast is for Calgary’s rental vacancy rate to dip slightly next year to 3 per cent, and level at the same rate in Edmonton.
The tighter vacancy rate will mean higher average rents in both cities – Alberta has no rent controls – and the end of rental incentives that had been common this year. Good news for landlords, but tougher for tenants.
One of the brightest spots for the residential sector in all of Western Canada, Saskatoon willsee an 18 per cent increase in housing startsthis year and an 11.6 per cent increase in resalehousing.
Next year, while still strong, does not look so rosy. The forecast is that home builders, facingcompetition from the resale sector and buffeted by job losses, will start work on 2,500 homesin 2012, down about 11 per cent from this year. The average price of a new detached house isexpected to rise only 1.4 per cent next year, to$388,000.
There is a small overhang forming in Saskatoon’s condo market, with an estimated1,300 units finished as of August, a 66 per cent increase from a year earlier.
“Builders will scale back and focus on sellingunits currently under construction,” accordingto CMHC’s Saskatoon office. CMHC expects
TOP: Winnipeg realtor Ralph Fyfe of Century-21 Bachman and Associates: “We are in for a very healthy year.”: LEFT: Saskatoon home builders are coming off a near record year, but slowdown in starts seen in 2012 despite incentives for new home buyers.
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KAMLOOPS, BC & AREAFuture Mobile Home Park Clearwater, BC 15
acres plus 2.7 acres, highway commercial.
$279,000
Kamloops Warehouse – 18,000 sq ft loading
docks. $7.00 per sq ft plus triple net. Some
refrigeration.
Main Street Lease Space – 946 sq.ft
retail available for lease Jan 1/2012
$1202.00 plus portion of taxes
Mini Mall Barriere, BC – 5 units plus vacant lot,
hwy frontage. Good investment. $399,900
Commercial Building, 4 Bedroom Suite –
Clearwater BC Building just under 4000 sq ft. ¼
acre lot. Current use is restaurant. $274,900
Large building has pub, liquor store & restaurant
plus 2nd floor for future development. Price
includes land, building, pub license, liquor store
license and equipment. Selling below assessment.
$465,000
Telecommunications Business – Kamloops BC
Owner retiring. Business sells, installs, & repairs
telephone & voice mail systems, data wiring, fiber
optic cable installations. $175,000
Call MARVIN [email protected]
www.realestatekamloops.ca www.mcmrealestate.ca
Mona M. Murray Dip. ULE, RI (BC), CPM250-372-2277 [email protected]
INVESTMENT OPPORTUNITY
Asking $2,800,000(price includes building/land, furniture, fixtures & equipment)
KAMLOOPS, BC PUB & LIQUOR STORE
FOR SALE
PENTICTONLUXURY MOUNTAIN TOP HOME ON 2 ACRES
BEAUTIFUL VIEWS OF SKAHA AND OKANAGAN LAKE
$1,999,000
PENTICTONLAKEFRONT PENTHOUSE WITH MOUNTAIN VIEWS
AVAILABLE IMMEDIATELY
1 BDRM + DENNEW PRICE $479,000
OSOYOOS10 INCOME PRODUCING
LAKEFRONT RV LOTS
$1,250,000 + HST
monarkinvestments.caPlease visit our website or call for more details.
604-592-7250Financing Available. Potential Trades.
FOR SALE
PENTICTONLAKEFRONT PENTHOUSE AMAZING VIEWS OF OKANAGAN LAKE & AVAILABLE IMMEDIATELY
2 BDRM + DENNEW PRICE $1,499,000
B6 Interior British Columbia www.westerninvestor.com DECEMBER 2011 WESTERN INVESTOR
1-800-317-1118 or 1-250-549-7050www.okanaganhomes.com
Fax: [email protected]
5603 27 St., Vernon, BC V1T 8Z5
PRISCILLA & CO.Re/Max Vernon
VERNON & AREATRADES CONSIDERED ON SELECT PROPERTIES
PREMIUM STORAGE YOU OWN! GARAGETOWN - VERNON Premium Storage with a difference- YOU OWN IT! - 47 fully customizable units. 20x48, 24x48 and larger w/14’ overhead doors plus a drive-through model. Ideal for RVS, boats, collectors, retail and business overflow. Level 3 acre site w/quick access to all major routes. Fully furnished Owners Lounge! Offering preconstruction incentives from $125,900 MLS®
CARWASH – WILLIAMS LAKEProfitable and well maintained! Great Family operation or for absentee owner. ½ acre lot, 3 high pressure truck and 3 medium pressure car bays, new detailing business. $949,000 MLS®TOURIST COMMERCIAL ON OKANAGAN LAKE .23 level acre across from public beach! Older home with long term tenant. $650,000 MLS®RETAIL/WAREHOUSE WITH SUITE 10,800 sq.ft - flexible use. High visibility on main commercial road across from Mall. Tenant would like to stay. Great holding property. $1,199,000 MLS®
TRANSCANADA HIGHWAY FRONTAGE1.8 acres with 500’ frontage. Previously operated as Gas station, store, restaurant, launderette. Includes rental suite and 5 unit mobile home park. Main store built in 2003/ Sold As is Where is. Opportunity! Close to Sicamous, BC. $515,000 MLS®
NURSERY/HORSE SET-UPIn heart of Coldstream Valley! Turn key operation! Steady Growth! Equipment, automated greenhouse, vehicles, comfortable home with suite, office. 20 prime irrigated acres w/ set upfor horses. $1,600,000 MLS®
COMMERCIAL STRATIFIED OFFICE 2000sq.ft 3-4 offices, workspace, kitchen, baths, onsite parking. $479,500 MLS®SERVICE COMMERCIAL BLDG Excellent Highway exposure- 2 blocks from downtown, across from Mall. Excellent location! Level, paved .95 acre. 10,900 sqft bldg, Fenced compound. $1,395,000 MLS®SERVICE COMMERCIAL DEVELOPMENT SITEIdeal for end user or subdivision. Fully serviced area w/access from 2 or 3 roads. Zoning allows for 10,800 sq.ft +. Multiple uses including residential above main floor. $5,750,000 MLS®INDUSTRIAL SITE! Nearly 3 level acres on frontage road with high exposure to highway. Ten minutes to city centre. Ideal for manufacturing business. Plans for building available. $888,000 MLS®IDEAL FOR WATER BASED BUSINESS.51 level acre zoned I1 Light Industrial. 18’ x 30’ shop and 3 bdrm house. Located between downtown and yacht club/boat launch. Next to airport. Rare Find! $399,000 MLS®
OKANAGAN RANCH681 acre Ranch (or potential development) 20 minutes from Kelowna International Airport & City of Vernon. Adjacent to world class Predator Ridge Golf Course and Sparkling Hills International Resort. Rolling, open and treed land w/some stunning Kalamalka Lake views. 180 acres out of ALR. $6,495,000 MLS®
DEVELOPMENTAL LAND AND
GOLF COURSE FOR SALEIN THE BEAUTIFUL
BC INTERIOR
162 Acres 9-Hole Golf Course Club House Residence Trades Considered
BEST-WEST REALTY LTD.250.554.4511
Dwight Vos250.371.7992
Tracy Mackenzie250.318.2938
What a terrific business opportunity. 20,000 sq. ft. lower floor of a commercial building (lease) situated in North Kamloops. 18 lane bowling alley, 110 seat Licenced Restaurant, 100 seat sports Bar & Grill, Licenced Pool Room, and many updates, including new floors, new tables, new chairs, totally new menu, new TV’s and a new complete fully equipped bar in the bowling alley area. This may very well be the best kept secret in Kamloops. Grossing in excess of $1,320,000, and the price is only $645,000
THIS COULD BE YOUR CHRISTMAS WISH COME TRUE
Adam Yakubowich @ Best West Realty @ 250-554-4511 or 250-371-4801 (anytime)
Reach potential buyers
with money to spend.
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Recreational Real EstateADVERTISING FEATURE:
• Limited spaces • 4-colour ads• Special rates
604-669-8500 • [email protected]
14 apartment condominiums to be built to complete the 38-unit Valley Vista on a two-acre sloping property. Excellent view of Shuswap Lake from one side, forest on the other. One-bedroom, 600 sq. ft., two four-plexes and a six-plex. Some suites are level entry. Can be rented. Quiet pets welcome. Modulars built by SRI Homes in Kelowna. Foundations are ready and waiting for the two four-plexes. All services and driveways are in.
SALMON ARM, B.C.Reduced to $600,000
SALLY SCALES [email protected] or 250-832-4831
from B5multi-family starts to fall 21 per cent in 2012 to 950 units.
A wild card is takeup on a Saskatoon City incentive that provides assistance to new home buyers, which resulted in 176 new home sales in the past two years. If the plan becomes heav-ily subscribed it could boost demand for lower-cost condominiums and townhomes.
In the resale market, 3,800 homes are forecast to sell next year, slightly lower than in 2011. Average resale prices should continue to rise, advancing 2.1 per cent in 2012 to $314,000.
Saskatoon continues to look like a strong market for landlords over the next year. The rental vacancy rate will rise from 3.6 per cent this year to 3.8 per cent in 2012, according to CMHC, but average rents are expected to climb 2 per cent.
Housing sales in Saskatchewan’s capital will reach 3,700 units next year, up 1.4 per cent from 2011 and among the best years in the city’s history The average detached house price will also surpass the previous record set this year, as prices are predicted to increase 3.3 per cent to $285,000 in 2012.
Starts of new homes, coming off a record-setting pace in 2011 – the highest level since 1987 – will dip about 5 per cent next year, with 800 detached houses and 1,425 multiple units breaking ground according to CMHC. Still, this is a very strong showing for Regina, especially
since the average new house price is expected to increase nearly 4 per cent to $490,000.
Expect Regina’s apartment vacancy rate to be around 2 per cent next year, with the aver-age two-bedroom apartment renting for $950 per month. Job growth is driving both rentals and home sales, with a projected 4.9 per cent unemployment rate in Regina next year, the best of any urban centre in Canada.
Winnipeg’s rental vacancy rate will remain in the 1 per cent range in 2012, CMHC says, which contines to rank it among the lowest in the country. The reasons are an improving economy, higher in-migration and job creation, plus the loss of rental units to condo conver-sions over the past few years. Rental construction has increased, with 490 apartments started in the first eight months of this year, but it will be awhile before that makes a dent in the tight vacancy rate.
Winnipeg is under provincial rent controls, which caps rental increases next year to 1 per
cent, but new units are exempt from the legis-lation. As a result, CMHC is forecasting aver-age rents to spiked 4.5 per cent this year and a further 3 per cent in 2012 to around $900 for a two-bedroom apartment.
Total new home starts in Winnipeg are fore-cast to reach 3,750 units in 2012, maintaining a strong pace seen since 2009. The average newhouse price is expected to rise to $409,000.
As for the resale market, sales are forecast to increase modestly from this year to 12,200 in2012, with the average resale price at $250,000 next year, up about 4 per cent from 2011.
Ralph Fyfe, president of Winnipeg Realtorsand an agent with Century-21 Bachman andAssociates, says low house prices, low mort-gage rates and consumer confidence are set-ting the stage for another strong resale marketnext year in Manitoba’s biggest city, "We arecoming off the best sales year since 2007," hesaid.
“Winnipeg is still a bargain. If those con-ditions remain in place, we’re in for a veryhealthy market, in 2012,” Fyfe said. ◆
City Sales 2011* Sales 2012 2012 Avg. Price Rental vacancy rate 2012
Calgary 22,000 22,700 $411,000 3 per cent Edmonton 16,700 17,200 $336,000 3 per cent Saskatoon 3,850 3,800 $314,000 3.8 per centRegina 3,650 3,700 $285,000 2 per centWinnipeg 12,000 12,200 $250,000 1.2 per cent
*MLS Sales and prices – all resale housingCourtesy, Canada Mortgage and Housing Corp.
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WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com Interior British Columbia B7
O K A N A G A N O P P O RT U N I T I E S
Cell: 250-864-9140 Toll: 1-800-367-3339 [email protected] www.timdown.caRE/MAX Kelowna Westside
Tim Down AACI, P. App, CAE, RI(BC)"Professionalism You Can Trust"
Investment PropertiesAcreages Court Ordered Sales
“Representing Buyers looking for Apartment, Manufactured Home Park and Mini-Warehouse Properties”
Ship deal floats N. Van real estateAn $8 billion federal government ship-
building contract is expected to boost demand for commercial and industrial real estate in North Vancouver, with the uptick expected to start next year.
“Now is the time to be looking for space on the North Shore,” said Terry Thies, a principal with Avison Young, who has been discussing real estate needs with North Vancouver-based Seaspan Marine Corp., which landed the multibillion-dollar con-tact on October 19. Thies said it is “still early in the game” for Seaspan, which has sufficient facilities to start the largest fed-eral procurement contract ever awarded in B.C.
Thies said it is likely that demand for both industrial and office space in North Vancouver will begin to ramp up in mid-2012 as suppli-ers and contractors for the huge project begin to assess their real estate needs.
The North Shore industrial market, dominated by North Vancouver City and District, currently has an industrial vacancy rate of 2.1 per cent, according to a survey by Cushman & Wakefield, and has the highest warehouse lease rates in Metro Vancouver, at from $10 to $15 per square foot. There is 140,000 square feet of new industrial space under construction on the North Shore. Prices for industrial land are also the highest in the province, averaging $2.5 million to $3 million per acre of ser-viced industrial.
Thies noted that the North Shore has a 7.7 per cent office vacancy rate, which had been expected to increase after two new office buildings completed this year at the Dollarton Business Park and at 1860 Lonsdale Avenue, North Vancouver City. With the ship-yard contract announcement, the vacancy rate could now be lower by next year, Thies suggested.
HST haunts high-end builders B.C.’s harmonized sales tax (HST) is dead
but it continues to haunt developers of high-end homes, who say confusion over the HST phase-out has stalled sales and forced price discounting. The main issue is new homes priced at $525,000 or more, which don’t qualify for HST rebates, a Vancouver Board of Trade panel discussion on the Metro Vancouver housing market was told last week.
“This is really hurting us in the new-home business,” said Ward McAllister, president and CEO of McAllister Ledingham Ltd., a Vancouver developer. “We don’t have any transition rules yet. What is amazing to me is that it took three days to bring this tax in and now they are telling us it will take up to 18 months to unravel it.”
McAllister said, “Any of our product at $525,000 or over is just sitting.” Developers are forced to make deals and discount prices, he said. The former president of the Urban Development Institute said the development industry has been “begging” for clear transi-tion rules on the HST since a summer refer-endum killed the controversial tax. “The first meeting [with the province] to discuss this is November 15,” he said.
According to a housing outlook from Canada Mortgage and Housing Corp., new-housing starts in B.C. are forecast to fall 2.5 per cent in 2012, to 27,600 units, after post-ing a 7.6 per cent increase this year.
Shell buys Kitimat terminalRoyal Dutch Shell, with Asian-based
partners, has bought a liquids import terminal in Kitimat from Cenovus Energy, fuelling speculation of a new liquid natural gas (LNG) port being built in the area.
Cenovus took over the 42,000-barrel-per-day Kitimat facility a year ago from methanol-production giant Methanex.
To date, three liquefied natural gas (LNG)
Metro Vancouve r ’ s strong economy and
consumer demand for retail options has prompt-ed American retailers to target the Lower Mainland for expansion even as they close stores at home.
North Carolina-based Lowe’s Companies Ltd. opened its first B.C. store November 1 – two weeks after it announced store closures in the U.S.
The 1,725-location home-improvement chain’s big-box outlet in New Westminster’s Queensborough district will have 117,000 square feet of indoor retail space with another 31,000 square feet dedicated to an outdoor garden centre. The building and its 550 parking spots sit on a 13-acre footprint.
Lowe’s, which is the world’s second-largest home-improvement retailer, announced October 17 that it would close 20 U.S. stores and lay off 1,950 of its 160,000 employees. The com-pany added that it will slow expansion to a maximum of 15 new stores in 2012, down from a previously announced 30 new stores next year.
“We believe that there’s plenty of room for good retailers in what is a good Canadian market,” said Ramona Paul, who is the manager of the chain’s Queensborough store.
Paul has hired 180 staff so far and may hire a handful more workers in the next few months.
Other large American retailers are looking to follow Lowe’s strategy of expanding north because the economy is comparatively more vibrant. Some chains to watch according to retail analysts include: Nordstrom Inc., Dick’s Sporting Goods, Kohl’s Corp. and J.C. Penny Co. Inc.
Lowe’s spokeswoman Joanne Elson said her chain first opened a Canadian store in 2007 and expanded to Western Canada in 2010 with its first of what are now three Calgary loca-tions. It opened outlets in Edmonton and Regina earlier this year.
– Glen Korstrom/BIV
Ramona Paul, manager of U.S.-based Lowe’s new store in New Westminster.
Phot
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proposals have targeted the Kitimat site as a potential exit point for Canadian natural gas.
Shell spokesman Stephen Doolan said the company and its partners Korea Gas Corp., Mitsubishi Corp. and China National Petroleum Corp. were “now exploring the potential for an [LNG] export terminal on the site.”
Producers have been eager to tap into grow-ing offshore demand for natural gas, which fetches more than triple the price in Asia than in North America.
The $5.6 billion Kitimat LNG project her-alded by Apache Canada, EOG Canada and Encana has been approved for an export licence by federal regulators, setting it up to compete with or possibly partner with Shell, according to analysts.
Korea Gas, one of Shell’s key partners in the venture, is the world’s largest buyer of LNG. The state-run company has bought stakes in several Canadian shale gas fields, including a joint venture with Encana, acquiring supplies for South Korea.◆
KAMLOOPSFully leased 10,784 sq/ft multi tenant building. Close to Thompson Rivers University, Wal-Mart, Home Deposit. 1.63 acre site. Asking $2,495,000
David Peressini 250-374-1461 or 250-371-3022Email: [email protected] Westwin Realty
CACHE CREEKFormer Wanderer Inn Restaurant. 5,000 sq/ft main floor. Upstairs living area with 7 bedrms. Excellent building. Court order sale #45465. $349,000
INTERIOR OPPORTUNITIES
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Investor Business Opportunity pages are organized geographically so read-ers can find the opportunity they want.
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B8 Northern British Columbia www.westerninvestor.com DECEMBER 2011 WESTERN INVESTOR
SOLD
RE/MAX Centre City Realty
Each offi ce is independently owned and operated
GEORGE Weinand 250-960-9556
KEN Goss 250-565-7653
— Your PRINCE GEORGE Commercial Professionals —
508 George St.8,200 sq ft fully equipped 250 seat restaurant. Previously ‘Tony Roma’s ‘ franchise. Completely renovated & equipped.
www.pgcommercial.ca
THINK REAL ESTATE...The Best Investment on Earth
4350 Handlen Rd – ‘Court Ordered Sale’5,525 sq ft concrete block building on .99 Acres. Zoned C-6.
Lot #1 Atwood Rd.LAND FOR SALE – Proposed new subdivision. 17 – 4 Acre+ high quality rural residential lots. 78.8 Acres total. Within 14km of the Westgate Shopping Plaza.
1440 – 2nd Ave.Extremely well maintained quality 5,386 sq ft OFFICE building. Vacant possession June 2012.
5083 & 5111 Domano Blvd.FOR LEASE – Prime College Heights RETAIL/OFFICE space. Visually desirable location. Net Lease.
9368 Milwaukee WayFOR SALE - 31,640 sq ft major fabricating/manufacturing facility (28’ ceilings). Located on 3.74 Acres, fenced yard, cranes, quality offi ces.
1921 Upland St.FOR SALE – Exceptional 12 unit apartment building. Good location, well maintained property. 8% Cap Rate.
9080 Penn Rd.FOR LEASE – 25,660 sq ft quality warehouse located in the Danson Industrial Park.
1108 Boundary Rd.FOR SALE & LEASE - 9,000 sq ft cement block building on 2 Acres, fenced compound. Building has been renovated & updated. Land has been graded for proper drainage. 3-phase power.
“Bee-Lazee RV Park & Campground”A 49 pad campground, plenty of room for expansion & a modern 2,000 sq ft bungalow on 77 Acres. ¼ mile of frontage on Highway 97 South.
Unit #C – 3131 Westwood Dr.FOR LEASE – 1,200 sq ft high visibility location in Westgate strip-mall. Net-Lease.
REDUCED
1550 – 1st Ave.ONE OF A KIND OPPORTUNITY. 3 concrete block warehouse on 3 Acres. 44,080 sq ft total space. Well maintained with 11 loading doors, 13 O/H doors, 3 phase power & highway access.
1437 North Fraser Dr. – Quesnel FOR SALE – Court Ordered Sale 38.5 Acre property. 604 sq ft stand alone offi ce. Main 3,498 sq ft concrete block 4 bay truck shop, with 1,628 sq ft addition attached. A 2,160 sq ft storage building with a 648 sq ft wood frame storage shelter. A sand/gravel business historically operated from this site, however no licensing permits have been confi rmed.
9543 & 9565 Anzac Cres.FOR SALE - 1.88 Acres. Zoned M-2. Industrial lots, cleared, level & serviced.
Please call JEANETTE for more info & photos 250-847-9022
F O R S A L E3 heated greenhouses,
retail store, 2bdrm home located 1/2 block from ocean.
This is the only garden center in Prince Rupert, BC.
Over 25 years in business.
$399,000.00 Land & Buildings
Garden Center
WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com B9
NORTHEAST BC REALTY Ltd. Phone 250 785 4115
“Investing Our Energy In The North”Located at 10220 101 Avenue Fort St John BC V1J 2B5
www.NEBCRealty.com F: 250 785 4120
RON RODGERS - OWNER / MANAGING BROKER Email: [email protected]
FOR SALE 73.5’x122’ commercial lot - 10019 103 Ave Fort St John Asking $134,900 MLS® N4505054 10.78 Acres plus four newly renovated houses at Mile 101 Asking $395,000 MLS® N4504487 146.6’ x x150’ multi-family lot - 9608 97 Ave Fort St John Asking $449,000 MLS® N4504895 83’x120’ Highway Commercial lot - 808 121 Ave Dawson Creek Asking $468,000 MLS® N132643 4.74 Acres plus trailer home & shop - 6419 Airport Road FSJ Asking $695,000 MLS® N4504930 Over 7600sf light industrial shop on 1.05 Acres - FSJ Asking $1.28 Millions MLS® N4504981 36.36 Acre DEVELOPMENT PROPERTY close to new FSJ hospital Asking $1.45 Million MLS® V4022639 3.01 Acres HIGHWAY Commercial Property - FSJ Asking $1.68 Million MLS® N4504968 39,000+sf Industrial INVESTMENT property on 3.73 acres lot long term lease in place. Asking $2.88 Million MLS® N4504999
FOR LEASE 2,810 sf office space along highway frontage - 11419 Alaska Rd FSJ Asking $19.00sf + triple net ($4449/month) MLS® N4504877 5,000sf office/shop/warehouse on 2.7 Acre lot @ Mile 54 on Alaska Highway Asking $16.00sf + triple net MLS® N4504884 5,000sf industrial shop/office on .599 acre lot 109 Street FSJ Asking $14.75sf + triple net ($6145/month) MLS® N4505084
FOR MORE INFORMATION OR TO ARRANGE VIEWING - PLEASE CALL RON
Holiday Message from NorthEast BC Realty Wishing you a very Merry Christmas and Happy New Year
NEBC would like to take this chance to thank all who we worked
with over the past year. We look forward to 2012 and wish you all a
safe and happy holiday. From Ron and Theresa Rodgers
Prince George
Elaine Kienzle250 563-8769
www.elainekienzle.com
2 waterfront development propertieson desirable Cluculz Lake
26 acres, 2 titles $295,000approx 1450’ of lakefront, easy access
55 acres, 3 titles $495,000approx 1650’ of lakefront, hwy access
For Sale or Lease $575,000downtown - close to proposed woodinnovation & design centre9630 sq ft on 3 levels; separate entrances,electrical & heating systemsideal for retail, design & professional offices
For sales or leasing inquiries please contact:
Tel: Fax:
Rob Engen 250-552-4121 Elisha Flynn [email protected]@gmail.com
Looking to invest in BC’s Northern capital? This beautiful 388acre parcel of land is located in the
middle of executive high-end homes, only 10 mins from City Centre. Possibility of subdivision. Reduced from $1,100,000 to $999,900 MLS® N213581
1-800-667-7330
RE/MAX Centre CityEach office is independently owned and operated
ecently I had a mile-stone birthday that changed my life.
I am not retired, and now well into middle age asking myself, “What am I doing all this for?” Most boomers are likely asking this question, feeling trapped, tired of the path they are on and worried about having enough money for retirement. Most of us can expect the gift of an additional 30 years of life, so what do we do with this gift?
Those in their mid-50s or early 60s may be experiencing doubts about having enough income to retire or perhaps worried about outliving their money. They may still want to work, or have to, but realize they do not have enough time left to build up a retirement fund by going to work each day.
More than three-quarters of British Columbians plan to continue working in retirement, a new poll shows. Eighty per cent of B.C. residents said they plan to start their own business, continue to work full time, become a consultant or take on part-time hours, according to the CIBC poll conducted by Harris/Decima.
From a financial-planning perspective, it’s important to have the plan provide the income you need for the retirement income you want.
After 35 years of real estate investing through good times and recessions I believe that cash-flow residential property, with an upside poten-tial, is the steady course for long-term income. But is it the right thing for a 60-year-old to be
undertaking? If you live an additional 30 years, is a real estate investment that matures in seven to 10 years worth looking at?
Investment real estate and its leverage aspects may be the answer. What follows is a very simple approach to build-ing a property portfolio that is a cash-flow investment plan, not a speculative play.
Each investor has his or her personal risk level. This fact, combined with their specific real estate goals, will direct an investor in his or her decision regarding how much leverage he or she will use within his or her portfolio. With leveraged real estate, an investor must find a balance between reducing the down payment and reducing the positive cash flow.
Thanks to the overall long-term stability of Canadian residential real estate investments, banks and other financial institutions are will-ing to provide you with relatively inexpensive financing secured against your investment property. This leverage can dramatically increase your return on investment (ROI) but, as with any investment, the higher you try to push your ROI the higher the risk.
The example shown (see sidebar) is for one property for one year. The Canadian average appreciation is 5 per cent; this example used 3 per cent. What if you found better cash flow and appreciation? What if you had more than one property? What if you sold one and paid down the others in 10 years? How would that
affect your cash flow?The answer to all these questions is educa-
tion first, and then action.
Do a financial mortgage review of your current and future portfolio.
1. Educate yourself in real estate invest-ment;
2. Review your goals and discover what is important to a middle-age you.
3. Take action4. Have a mortgage plan for your portfolio.First, meet with a mortgage broker who
understands real estate investing and have him or her help you develop not just a plan, but your plan, including:
• defining your end goal, and how much real estate you need to achieve it;
• determining the kinds of investments that are right for you;
• identifying obstacles to your success, and overcoming them; and
• discovering financial options and solutions, including recent market and regulatory changes that affect investors.
Next, develop or find a system to reduce the risk, increase the positive cash flow and find properties in both hot and cold markets. This system should show you when and how to buy for maximum profits – location is important, but timing is everything. Successful real estate investors know when to buy and when to sell.
It takes money to buy real estate. One hears a lot of talk about “no money down” deals but someone has to put the money down. There have been books written that contain very interesting strategies for these deals; howev-
Cash-flow property, with upside potential, is smart buy for aging boomers seeking security
MURRAY WOOD
er, they take a huge amount of searching and many false starts. Remember that we are talk-ing about a passive investment approach to real estate investing so you can spend your time doing what you want while your portfolio is building you cash flow and equity. Your systemshould give you the blueprint to present your deal to financiers and joint-venture partners alike, time after time.
Take a breath or a weekend and think about where you are now and want to go in the nextphase of life. This would include both a person-al and financial reflection. Make some simplenotes so you can review them and see if they still seem important in a few days. Take a realopen look at this new age and embrace it.
We want to continue living to our highestpotential. We want to be valued, to experiencewell-being, happiness and love, to be fully self-expressed in the last third of our lives. We still have a lot to contribute.
We need to transform the culture of agingfrom one of loss, disappointment and decline to one of possibility, power and purpose. We needto shift the way we look at aging.
I like the statement from a favoured book,The Elder, by Marc Cooper and James Selman: “Make the rest of your life be the bestof your life.”◆
Murray Wood, president of BuyHomesBC.ca,spent six years as a qualified financial plan-ner and has developed recreational real estateduring his 35-career. He now focuses on help-ing middle-age people build simple real estaterevenue portfolios. [email protected]
Property $140,000 (one-bedroom rental condo in Ladysmith)Down payment $30,350 20% plus closing costsTime One yearRental income $750 ($180 positive cash flow/month)3% appreciation on property $4,200 annuallyMortgage reduction $2,424 annuallyROI on appreciation alone 13.8% ($4,200/$30,350 x 100)ROI on appreciation, mortgagereduction and cash flow 28.9% ($8,784/$30,350 x 100)
B10 Northern British Columbia www.westerninvestor.com DECEMBER 2011 WESTERN INVESTOR
KEVIN PEARSON [email protected]
Building lots available in a brand new subdivision. Single family and duplex lots starting @ $104,900
Brand new Investment Units under construction with corporate tenants available starting @ $730,000 Potential rent at $78,000
235 ACRES DEVELOPMENT LAND
Can be sold in smaller parcels. Great highway expos-ure. Bordering city with flexible zoning options from Commercial/Industrial to Multi-Residential and more.
ENERGY REALTY
FORT ST. JOHN, BC INVESTMENTS
1-800-661-6988
www.westerninvestor.com
#133128: NEW STRIP MALL has 4 available spaces left for lease, 1,750 sq ft each. Great location on 8th street between Tim Horton’s & The Brick. Lease rates start as low as $16/sq. ft.Start your business here. Strip mall is 10,000 sq. ft. and is also for sale.
FOR SALE OR LEASE 5040 sq ft building on busy Alaska Ave. Many uses, drive thru availability, lots of parking, next to government liquor store. Owner will consider dividing building into two rental units.Priced at $795,000 or $16.00 per sq ft to lease.
FOR LEASE 3200 SQ FT SHOP with an additional 1680 sq ft of office are on upper floor. 2 doors 12x14 into 40x40 shop. Zoned M2 (light industrial) on .23 of an acre. Asking $16.00/sq ft.
#131876, 130050, 131875 - HIGHWAY
COMMERCIAL/INDUSTRIAL LAND Situated across from the EnCana event centre, Chances casino and new Holiday Inn this is a very desirable location. Total of three lots each approx 4.5 acres each, excellent visibility and access. Priced at $450,000 - $500,000 each
#129593: COMMERCIAL BUILDING WITH BEER AND WINE STORE for sale (gross sales of $2,000,000). Great location in Dawson Creek, also 40 apartments, bar/restaurant area and commercial space. Asking $3,500,000. Call for more info.
L A N D
#129635: RESIDENTIAL DEVELOPMENT LANDS, one parcel of 25 acres on the north west edge of Dawson Creek for sale, superb location for residential homes, the timing is right as we need more residential lots for our busy market place. Asking $625,000
#129877: ONE ACRE OF MULTIPLE RESIDENTIAL LAND suitable for 37 unit apartment or condo complex. Across from the hospital in a prime residential area of Dawson Creek. $179,000
#127836: SUBDIVISION FOR MOBILE HOMES! Total of 39 mobile lots are possible on this 4.6 acres, zoning in place, some services are already in, 3 lots have been subdivided. Call for more info. Asking $300,000
WILL BUILD TO SUIT - AIRPORT ONE ACRE LOTSDeveloper has 3 one acre lots in a row at the airport with highway frontage...will build a 5000 - 7,000 sq, ft. pre-engineered steel shop, provide a graveled and fenced yard with a 5 year lease starting at $ 14.00 per sq. ft. for the shell. Also willing to build and sell to ten-ant. One lot now leased and sold. Only 2 left!
#127066: LOCATION, LOCATION, LOCATION 0.74 acres at the intersection of 17 Street and Alaska Highway. Ideal location for strip mall, service station, etc. $295,000
#127441: 80 ACRES OF INDUSTRIAL LAND with highway frontage, railway tracks, water and sewer in the City of Dawson Creek. Asking $31,250 per acre
RE/MAX DAWSON CREEK REALTY 1-888-214-5871DAWSON CREEK COMMERCIAL EXPERTS
D A W S O N C R E E Kwww.dawsoncreekrealestate.ca
TOM MORAN [email protected]
LLOYD SMITH [email protected]
#129952 - FOR SALE OR LEASE Multi purpose building with 2 units now leased leaving 11,000 sq ft. available. Upgrades include updated roof and furnacesAsking price is just $397,000
#129953 - RETAIL BUILDING Great location on 10th St over 3,000 sq ft on main and additional 3,000 sq ft on second floor, located next to Scotia Bank. Ground floor now leased out to only video rental company in Dawson Creek. Asking price of $375,000
#132673 - In the centre of the City close to the traffic circle on Alaska Highway...1.55 acres of flat land with all new services to the property and bordered by 8th street and the paved roadway to the new apartment building. Excellent location, commercially zoned, will builld to suit. $290,000
#130029 RETAIL STOREFRONT on 102nd Ave. for sale, 3500 sq. ft on a corner location, paved parking, good visibility can be used for offi ce, retail, or your own small business. Owner will consider leasing as well. Reduced to $119,000 as is
#130010 - WELDING / MACHINE SHOP for sale Includes 12’ door, 13’ ceilings, 3 phase power, 23o Volt/400 amp service. Gravel yard, 100 sq. ft. offi ce with shower & bathroom. Fire hydrant, 2 overhead cranes. $220,000
#129257: THE SOUTH PEACE UNITED CHURCH IS FOR SALE. OVER 11,000 SQ. FT. - Sanctuary, hall, kitchen, offi ces, and support services. Excellent corner location, zoned commercial, very good condition, ready for an offi ce or residential conversion. $495,000
#133401 - BUSINESS OPPORTUNITY located on the east side of Dawson Creek. Belsum Auto Recyclers Ltd has a proven track record and shows a good return. In-cludes 6.5 acres of prime industrial land on Hwy #49, a heated main shop with 3200 sq.ft. and an adjoining 2400 sq. ft. building used for stripping vehicles. Lots of inventory, and equipment includes 3 forklifts and a skid steer. Asking $1,200,000 for the land, buildings, and turnkey business with inventory.
#130083 - Prime location on Alaska Ave. in Dawson Creek - close to all retail and downtown and still on main artery through the City. Total of 17,000 sq. ft. of new space and can be divided into whatever you need. Popular new restaurant now open, lots of parking.
Remax Action Realty 1991 [email protected]
[email protected] Toll Free : 1-888-785-5520
FORT. ST. JOHN
The Power Of Partnership!
KATHY MILLERCURTIS ROBINSONPERSONAL REAL ESTATE CORPORATION
4717 - 51 St., ChetwyndFully occupied w/consisted ROI to the owner. Contains
established businesses & a fully furnished 2 bdrm apart. Torch on roof in 1999 & new fi re system in Jan. 2011.
$1,200,000 - MLS# N4504915
INVESTMENT GEM!
10123 - 100th StreetA prime downtown location, right on 100th Street, just under
2500 square feet divided into 2 separate retail spaces, both sides currently leased $299,900
MLS# N4504949
LOCATION, LOCATION!
7000 sf building offers 1000 sf of offi ce/reception & 6000 sf of shop space ,4-16’ O/H doors & 1-14’ O/H door, 17’ ceiling, 200 amp service, just under 1 acre of land. $869,000 - MLS# N4504751
A RARE FIND!10433 - 269 Rd
OPPORTUNITY KNOCKING!
8224 - 93rd Street1050 sq ft of offi ce w/hardwood fl oors. Front reception & display
area & the shop with 3 bays, 1 is drive through/wash bay. Radiant heat, mezzanine area, 14’ overhead doors. Fenced compound all on city services. $879,000 - MLS# N4504836
Updated offi ce space, new windows, doors and updated forced air furnace. 1100 sq. ft. of
offi ce space attached to 3250 sq. ft. of shop. + 6500 sq. ft. of additional shop space available. $15.00/sq ft + NNN - MLS# N4505100
PROSPECT PARK LOCATION10711 - 91ST AVENUE
SHOP IN CITY LIMITS!
10215 - Beaver Rd2835 square ft shop is heated & insulated, 2 - 12 foot doors. Only a few blocks to Alaska
Highway, NO city services. C3 zoning, 0.894 of an acre $215,000 - MLS# N4504755
SubscribeOVER $2.5 BILLION WORTH OF INVESTMENT OPPORTUNITIES EVERY MONTH
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Best Wishes for Joy and Peace
Th is Holiday Season!
INVESTMENTS SALES PERFORMANCEC/S
B12 Recreational Real Estate HOT PROPERTIES www.westerninvestor.com DECEMBER 2011 WESTERN INVESTOR
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LAURA SALMONREALTOR250-551-8877
$895,777
h e V a n c o u v e r I s l a n d - b a s e d Aviawest Group has won credi-tor protection to December 11 as it
tries to finance its cash-strapped companies, which includes its flagship Parkside Resort and Spa in Victoria.
The extension was granted early in November in the Supreme Court of B.C. in Vancouver, said court-appointed monitor Mark Wentzellof Grant Thornton Ltd.
That protection had initially been granted October 24 on an interim basis.
“During this time, the company will work on a restructuring plan,” Jim Pearson, Aviawest CEO, said in a statement. The creditor protec-tion process “is in the best interests of all stake-holders, and we are pleased the courts granted us an extension of the order. Although the cir-cumstances are challenging, we look forward to working with our creditors to achieve the best possible outcome.
“Over the past two weeks, we have had positive responses from potential restructur-ing partners. We will work hard over the next five weeks to take these relationships to the next level.”
Total liabilities for the group of companies are $99.468 million, Grant Thornton said in a report to court. Of that, $70.5 million is owed to secured creditors and $27.57 million to unse-cured creditors.
Debt mounted as the company built and launched Parkside, leading to Aviawest’s
insolvency, Pearson said in a court document. The $60 million development opened in 2009. Its 126 units are either wholly owned or under fractional owner-ship.
Aviawest ear-lier developed the Pacif ic Shores Resort and Spa at Craig Bay near Parksville. It opened in the early 1990s, one of the first fractional-ownership projects on Vancouver Island.
The Aviawest group of companies includes a multi-destination real estate vacation club with several thousand members and a resort-management arm, the company’s chief finan-cial officer said in a court document.
The group has also developed or bought
RECREATION FEATURE Cash-strapped resort developer has until December 11 to secure refinancing
CARLA WILSON
WESTERN INVESTOR
other resort properties, such as the Rosewood Victoria Inn in Victoria, the ski-in Pinnacle Lodge at Sun Peaks, 10 units at the Water’s
Edge Resort at U c l u e l e t a n d 41 luxury suits called Aviawest in Vancouver at the
Rosedale on Robson Suite Hotel.
A report from the monitor states that total unsold inventory held by Aviawest is valued at $80.1 million.
That breaks down to $63.53 million in Parkside, which has a total residential value of $51.8 million for whole and fractional owner-ship units. Another $11.6 million is in commer-
Victoria’s $60 million Parkside Resort and Spa is among Aviawest’s troubled assets.
Phot
o: A
viaw
est
Grou
p
cial inventory.Pacific Shores unsold inventory is valued at
$16.59 million. Its residential value is pegged at$7.9 million in whole and fractional ownership. There is $7.1 million in commercial inventoryand $1.5 million in land, the report said.
The largest individual creditor is BCInvestment Management Corp. (BCIMC), which is owed approximately $48 millionunder two loans, secured by mortgages, saida court document.
Another document filed in court contains alist of 108 individuals or couples, many retired,who have invested in Aviawest’s projects or companies and are owed various amounts. Several state that they are retired and investedretirement funds. One Alberta woman wrote that the $101,575 she invested represents halfher retirement savings.
Secured creditor Fisgard Capital Corp. has offered to lend up to $2.5 million under twoaccounts, one for Parkside and one for PacificShores, the company said in a report filed in court, if creditor protection was continued. Fisgard has said in an affidavit that it is owed $8.7 million.
BCIMC has requested that Aviawest be placed into receivership. No plan has been putin place by Aviawest other than “perhaps more of the same, which clearly has not worked,”BCIMC said in documents.
BCIMC is one of Canada’s largest institu-tional fund managers. Clients include public-sector pension plans, public bodies and publiclyadministered trust funds. It was set up by the province under the Public Sector Pensions Plans Act in 1999.◆
– With Times Colonist files
“Total unsold inventory held valued at $80.1 million”
WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com Recreational Real Estate HOT PROPERTIES B13
“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 –
HORSETHIEF CREEK RANCH EAST KOOTENAYS, BC
$1.85M
SHUSWAP LAKE DEVELOPMENT LANDS
$5.25 million
SOUTH CARIBOO ACREAGESVIEWS OF LAC LA HACHE
2+ ACRES - HOPE, BCFRONTING ON 2 FAMOUS RIVERS
RURAL PARADISE HAGENSBORG (BELLA COOLA), BC
RUSTIC CEDAR HOME NESTLED ON 1 ACRE - HAGENSBORG, BC
$39,000
$159,500 $175,000
$529,000
TULANI RANCH BTWN BURNS LAKE & HOUSTON, BC
KOKANEE LAKESIDE RESORT
$75,000
NORWOOD RANCHCOURTENAY
$995,000
$11 Million
BOAT HARBOUR MARINA NEAR NANAIMO, BC
FRASER VALLEY ACREAGESHOP / BARN FOR CAR BUFFS
$849,900
SIDNEY LODGE OCEANFRONTSIDNEY ISLAND, BC
$2,950,000
WINTER / SUMMER RETREAT30 MINUTES TO KAMLOOPS
$179,000
1.45M
PITT MEADOWS EQUESTRIAN RANCH
$1,750,000$2.1M
GRAPEVINE PUB & BISTROBURNS LAKE - NORTHERN BC
KOOTENAY LAKE WATERFRONT ESTATE
PORT BROWNING MARINA RESORTSOUTHERN GULF ISLANDS
$4,800,000
DEVELOPMENT ACREAGEPRINCETON, BC
1-855-267-25911-855-267-2591
$1,295,000
150 MILE HOUSE RANCHER ON PRIVATE ACREAGE
HISTORIC JURA STOCK RANCH PRINCETON, BC
THE NEW 108 RESORTCARIBOO REGION OF BC
$3,950,000
$3,990,900
67 ACRES WATERFRONT RETREAT
$725,000
$895,000
BC’S SHUSWAP LAKE1.23 ACRE VIEW LOT
$77,900
$109,900
RENTAL INVESTMENTVAVENBY
$579,000
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B14 Recreational Real Estate HOT PROPERTIES/Alberta DECEMBER 2011 WESTERN INVESTOR
We are looking for 1st or 2nd mortgage lending opportunities for:
Single and multi-family residential developments
Commercial, industrial and retail developments
Refinancing / acquisitions
Construction / land servicing
Bridge loans
Income producing properties
CareVest has been providing its industry leading lending services since 1994. Our integrated real estate services specialize in the investment, financing and syndication of real estate mortgages throughout Western Canada and Ontario.
Shane OlinTel: (403) 708-9086
Bower Plaza, Red Deer, Alberta
CONDITIONALLY SOLD154 Bowness Centre NW,
Calgary, AB• 16,200 sf retail building• $1,800,000 ($111 psf)• +/- 1 acre of land
Calgary Office#211, 4014 MacLeod Trail South, Calgary, AB T2G 2R7 • Phone: (403) 214-2344 FAX: (403) 214-0244
BUILT ON THE POWER OF OUR NETWORK. OVER 375 OFFICES WORDLWIDE.
Shane OlinTel: (403) 708-9086
PRIME RETAIL SPACE FOR LEASE800 - 10,000 sq. ft.
Westmount, Okotoks, Alberta
4337 Macleod Trail S, Calgary, Alberta
SOLDBower PlazaRed Deer, AB
50,000 sq. ft.
Prime Retail Shopping Centre
Shane OlinTel: (403) 708-9086
Gene Sarmaga(403) 826-5636
CONDITIONALLY SOLD4110 - 79 Street NW,
Calgary, AB• 10,250 sf • Office Building
Shane OlinTel: (403) 708-9086
Gene Sarmaga(403) 826-5636
LAND FOR SALE• 2 Acre Multi residential Site - Calgary Region• 2.53 acre industrial zoned land in west Calgary
CONDITIONALLY SOLD • CANMORE DEV.• 20 Unit townhouse project• 50% complete, at "Lock Up" stage• Asking $6,200,000
Tim AndersonTel: (403) 291-8866
[email protected][email protected]
GREAT RETAIL SPACE FOR LEASECentre 89, Calgary, AB
• Up to 13,000 sf• Going home side of Macleod Trail
Jim BalfourTel: (403) 291-8860
Tim AndersonTel: (403) 291-8866
[email protected][email protected]
HOTEL - FULL SERVICESOUTHEASTERN ALBERTA
• N.O.I. in excess of $725,000• Full Service Including Conference / Wedding
facilities• Well Flagged• 42 rooms with room and plans for expansion• Two lounges• High VLT count• Net Rental income as well• Priced to Sell!
5 MOTELS PRICED UNDER $700,000• Located in various southern Alberta towns• Great returns for an on-site operator• Have your own business for a little more than the
cost of an average home in Calgary.
Virtual tour at www.annabelyoung.comANNABEL YOUNG Offi ce: 604-888-0786
Cell: 604-961-7541 Email: [email protected]
Far from the Madding Crowd
- Exquisite property features the best of the West Coast
- Water Front -1.84 acres of high water front
- Custom designed house infused with southern light
- Spectacular views of the Gulf Islands- Live year round or have a
weekend retreat and haven- MLS® F1118274 $1,075,000
REALTY (02) LTD.
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WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com Alberta B15
COMMERCIAL (RE/MAX Excellence)
17718 - 64th Ave Edmonton, AB T5T 4J5 (780) 429 - 1200 1(866) 481 - 2950
w w w.RemaxComm.ca
BUSINESS ONLY
Edmonton’s Business & Investment Specialists
RV & Truck Wash - South Edmonton. Business Only - PENDINGIndian Restaurant - South Edm. Prime Location - PENDING
CALL AYAZ OR SAM AT 780.641.1320
INVESTMENT61000 SF+ Whse & Of - 14135 128 Av. Priced to sell! - $5.8MOffice/Medical Centre - Leduc. Fully leased. 8.2% CAP - $1.7MNisku Multi-Tenant Bldg - Room for upside. VTB Avail. - $1.79MGeneral Store w/Property - Outside Edm. Over $1M revenue.
2000 SF bldg on 0.345 acres. Excellent opportunity! - $595,000RV Storage & Service - 8.87 ac w/7,362 SF buildings - $1.095M
CALL AYAZ OR SAM AT 780.641.1320
MULTI-FAMILY8 Units - RET/MF Mix Commercial Bldg DT Ft. Sask - $1.3M15 Units - West Edmonton - $100,000/Door18 Units - Two building package. Strathcona - $130,000/Door20+ Units - Strathcona Fully Rented - $125,000/DoorSenior Development - Ready to build. Downtown - Call For Info
CALL MIKI O’REE AT 780.200.6454
INDUSTRIAL
LAND Nisku Commercial Land - 5 Lots. Zoned CS - $375,000/Acre Sturgeon County - 240 Acres (2 Parcels) - $15,900/Acre
CALL AYAZ OR SAM AT 780.641.1320
LEASING Leduc Plaza - 1100 SF units available immed. Only 5 units left!
www.LeducPlaza.com
CALL AYAZ OR SAM AT 780.641.1320
Bottle Depot Businesses - 3 Locations in AB. Call For Info BOTTLE DEPOT BUYING & ORIENTATION - BOOK NOW!
***CERTAIN CONDITIONS APPLY***
CALL RAJAN NULLIAH 780.441.5419
Auto Wash w/Land & Bldgs - Prime location in NE Edm - $3.5MSylvan Lake - Choice of 3 Est Motels. Beach facing & close to
Marina. Priced at $1.7M, $2.2M and $2.635MCALL RAJAN NULLIAH AT 780.441.5419
Land/Bldg For Sale - Spruce Gr. 5500SF on 0.7 acres REDUCED PRICE - $799,000
CALL ALLY PIRMOHAMED AT 780.604.0302
CALL RAJAN NULLIAH 780.441.5419Cosmetic Store - Located in a busy mall w/ high foot traffic.
Operating for over 16 years. - $179,900 + Inventory
CALL NEIL HORVATH 780.908.5630
CALL AYAZ OR SAM AT 780.641.1320
Gas Station, Grocery/Convenience & Liquor Store - Over $2M in sales.Land, Bldg and Business Included - $1.3M
CALL NEIL HORVATH 780.908.5630
Supreme Plating Business - w/property and inventory. 1.11 acres of prime property located in North Edmonton - $3.5M
CALL GREG STEELE AT 780.945.7800
2000 SF Retail - Corner lot w/parking. Downtown Fort Sask. $13.20/SF plus OP Costs
CALL MIKI O’REE AT 780.200.6454
WANTED!I am working with a well qualifi ed & ready buyer to
purchase an operating park in B.C., ALBERTA or SASK.
Price up to $3 million! Realtors Welcome!
403 540-8058 [email protected]
NICK SLEZINSKI ReMAX FIRST CALGARY, AB.
MOTELS & HOTELS≥ PROVOST Brand new 44 unit motel.
Asking $4.5M≥ CAMROSE 20 unit motel, (nice Ma & Pa
operation) upgraded and very clean, Asking $1.1M.
≥ HARDISTY New 44 unit Motel.≥ NAMPA, ALBERTA in busy boom town, 16 unit
motel, 100 seat lounge, VLTs, liquor store and restaurant. PRICE REDUCED TO $990,000!
≥ CAMROSE ALBERTA 68 room, full services Hotel. REDUCED - NOW $4.0M.
≥ FULL SERVICES 63 Unit Motel with Rest., Pub, Liquor Store. Shows excellent Rev. Ask $7.7M
OTHER INVESTMENTS≥ DAYSLAND Convenience store and Gas Bar.,
Mechanical shop, all located on a 1.5 acre parcel with residence. Shows good revenue. Asking $375,000.
≥ CAMROSE, AB 2 Side by Side, newer 4 plexes. Fully leased. Asking $560,000 each
email:[email protected]
FOR MORE INFORMATION CALLOREST: 780-679-8353 FAX: 780-672-1897
CAMROSE, ALBERTA
ALBERTA IS AGAIN MOVING!
SOLD
NNN INVESTMENT OPPORTUNITY !!!ARIZONA INDUSTRIAL PORTFOLIO
4 Industrial Properties Offered at: $5,000,000
For additional information contact: JIM BOYD (602) 882 - 0345 [email protected]
GILBERT, AZ
Income: $70,200Property Size: ±48,516 SFAdditional ±33,000 SF availableBuilding Size: ±5,015 SFLease Expiration: February 2015*Leased by Fortune 500 Company!
PHOENIX, AZ
Income: $123,575Property Size: ±65,000 SFBuilding Size: ±8,150 SFLease Expiration: June 2018*Leased by Fortune 500 Company!
GILBERT, AZ
LAND PARCEL
Lot Size: ±31,186 SFZoning: Regional commercialOutside storage capabilitiesAdjacent to Gilbert property
CASA GRANDE, AZ
Income: $78,000Property Size: ±1.978 acresBuilding Size: ±11,894SFLease Expiration: January 2013*Leased by Local Organization!
B16 Alberta www.westerninvestor.com DECEMBER 2011 WESTERN INVESTOR
INVESTMENT SALES
PRIME WEST EDMONTON LAND – RA7• Ready to build• 3.34 acres• Asking $4,175,000
CONTACT JEFF McCAMMON / DOUG BAUER OR DUSTIN BATEYKO
EDSON LANDING - $3,950,000• 13,390 sq. ft. on 1.14 acres in Edson, AB• An opportunity to own a quality shopping
centre which is 100% leased to excellent tenants with clear title, superior construction in a tremendous highway location.
CONTACT HOWARD McCANN /DOUG FOGG OR ADAM MARTINSON
MULTI-FAMILY OPPORTUNITIES
• Bank Sale: 24 residential units + 6 main floor units; partially complete; Westlock AB; $750,000
• 12 units in West Edmonton; 83% 2 or 3 bdm units; new roof 2007
• 17 units; central location; concrete construction; new roof and windows.
• 29 units in 2 buildings in Wetaskiwin; 80% 2-bdms• 3.83 acres prime dev. land in Windermere,
SW Edmonton• Highrise site on Jasper Ave; 15,000 s.f. across from
River Valley; improved with 2 apt. bldgs. (17 units)• Highrise site in Rutherford; 1.02 acres zoned for
105 units in dynamic area• Stony Plain development site; zoned apt. &
attached homes• High density dev. sites & apt. opportunities in
WetaskiwinApartment product is in demand! Please call
for our opinion of value of your building!CHRISTOPHER KAMPHIUS
or RAPHAEL [email protected]
COMMERCIAL CONDOS• 9,000 – 9,500 sq. ft.; located at intersection of Fort
Road, Wayne Gretsky Drive & Yellowhead; $130/ sq. ft.CONTACT BURKE SMITH
DEVELOPMENT OPPORTUNITIES
+/- 19,701.20 SQ FT: Vacant serviced site in NE Edmonton. Zoned CB1 (Low Intensity Business Zone) ......................................... $395,000+/- 0.947 ACRES: in Valemount, BC. Zoned C3 (Service Commercial) ................................ $49,500+/- 1.05 ACRES: in Valemount, BC. Zoned HC (Highway Tourist Commercial) .............$455,000+/- 3.84 ACRES: in SW Edmonton, Zoned IB (Industrial Business) ............................. $3,500,000+/- 1.85 ACRES: in NE Edmonton on 50th Street ............................................. $1,295,000+/- 0.31 ACRES: high visibilty location on 111 Avenue ....................................................... $610,000
CONTACT JEFF MCCAMMONOR DOUG BAUER
STETTLER MALL, STETTLER, AB• ±91,403 sq. ft. on 10.21 acres anchored by The Brick,
Peavey Mart and ATB• Just $65.00 / sq. ft.• Located in the heart of Alberta
WESTLOCK MALL, WESTLOCK, AB• ±64,218 sq. ft. on 5 acres anchored by Peavey Mart and
The Bargain Shop• $51.40 / sq. ft.• Attractive returns
CONTACT DAVID COONEY / DOUG FOGG OR HOWARD McCANN
SPRUCE GROVE, DEVELOPMENT LAND
• Adjacent to Superstore and Home Depot• Parcels from 1 - 3.75 acres• Great owner/user land, join Mac's
CONTACT DOUG FOGG OR MARK McCANN
OFFICE BUILDING FOR SALE• Well located 2 storey office building on 124 Street• Excellent owner/user opportunity with dental office built
out on main floor• Total of 6,940 sq. ft. above ground• $1,850,000
CONTACT IAN NEWMAN
FORT MCMURRAY, AB• Former Fort Theatre• 36,400 sq. ft. site which includes a 14,500 sq. ft. building
CONTACT DOUG RAE
MERRITT, BRITISH COLUMBIA• ±12,000 sq. ft. free-standing building for Sale or Lease• Includes bonus parking lot• Lease: $6.00/sq. ft. Sale: $850,000
CONTACT [email protected] [email protected]
FORMER WAL-MART MEDICINE HAT, AB
• High profile redevelopment opportunity• 12.95 acres / 100,287 s.f. building• $10,000,000
CONTACT HOWARD McCANN OR MARK McCANN
DUGGAN MALL, CAMROSE, AB• ±65,136 sq. ft. separately titled dept. store anchoring
a major enclosed shopping centre; asking $4 Million ($61.40/sq. ft.)
MULHURST BAY CROSSING DEVELOPMENT LAND
• 132.4 acres on Pigeon Lake• Area Structure Plan approved• 207 dwelling units• 200 site R/V seasonal park• 10.28 acres commercial development site
CONTACT JEFF McCAMMON OR DOUG BAUER
www.cwedm.com
CUSHMAN & WAKEFIELD EDMONTON2300 Sunlife Building, 10123 - 99 Street, Edmonton, AB T5J 3H1
SITE
• 4000 sq ft Penthouse office space - 17th Ave S.W. Calgary• 4900 sq ft Industrial / Office Condo N.E. Calgary - $595,000• 1500 sq ft fully equipped restaurant space for lease, N.E. Calgary• RV Repair Business, Calgary - $650,000• Retail Office - Downtown Calgary, 7550 sq ft - $3.75M• Calgary Neighbourhood Shopping Centre - $9.5M• Neighbourhood Shopping Centre - $4.2M• Retail Condos - Downtown Calgary. Up to 20,000 sq ft - $525/sq ft• 33 unit Apartment Condo - $3.465M• 28 unit Inner City Apartment - $4.0M• 98 Unit New Condo Development - $19M
Email: [email protected] to Receive Our Current Calgary Apartment Report!
Bus: (403) 240-4000www.toolepeet.com
Many more with great property management. Billions in Windsor Economic Development.
Call for Listings & Economic News
DUPLEXES:$113,900 $1,600 / mo$85,000 $1,250 / mo$136,900 $1,700 / moTRIPLEXES:$144,900 $1,900 / mo$98,500 $1,500 / mo$114,900 $1,625 / mo
INVESTMENT OPPORTUNITIES IN WINDSOR, ONTARIO
Allen Smith Sales Representative Buckingham Realty (Windsor) Ltd.
SINGLE FAMILY HOMES:Starting at $50,000
POWER OF SALES:Starting @ $30,000Condos starting @ $30,000
APARTMENTS:40 Unit Condo $2,100,00050 Unit $2,250,00046 Unit $1,590,00029 Unit $915,00035 Unit Condo $1,800,00018 Unit $513,00022 Unit $695,000
WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com B17
Commercial,Industrial & ResidentialFinancing
P (403) 290-1990F (403) [email protected]
Obtaining Mortgages and Loans can be made Easy &
Simple!
Contact:Frank Hickey
INDUSTRIAL LANDw/BUILDING FOR SALE
Asking $2,532,500 - Ponoka, Alberta11.55 acres, 8 individual lots with a 5000 sf unfi nished
panelized structure on Lot #10 (Lot #10 - 15 are 6 contiguous lots; Lots 19 & 20 are 2 contiguous lots)
Located at 49th Street and 60th Avenue in the north Industrial Park within the town limits.
Site is provided with all municipal services, and a railway spur connection to the main CPR line between Calgary and
Edmonton. Recent rail crossing was completed by town of Ponoka.
Excellent manufacturing site or stage area for Oil Sands or other Northern Industrial projects.
Lots are for sale individually or as a whole parcel. Owner may sell entire parcel within the Corporation with tax loss advantage to purchaser. MLS# C1019384, C1019385, C1019387, C1019388, C1019389, C1019390, C1019391 and C1019392
Mary Yuen-Sears, RealtorSUTTON GROUP - CANWEST
#1, 555 Hawkwood Blvd NW, Calgary, AB T3G 3K2Cell: 403-616-3636 • Fax: 403-592-6912
Email: [email protected] • www.calgarytagteam.com
SOLDSOLD
SOLD
ROCKY PARKCIR REALTY
403-681-7512www.rockypark.ca
MOTEL IN ST. PAUL• Asking price: $1.3M• Sales: $358,231 • NOI: $236,484• Restaurant rental income $3,000/mo• 53 Units (12 Kitchenettes)
MOTEL IN MOSSLEIGH• Asking price: $599,500• Sales: $160,000• 17 Units + 14 RV parking stalls• Currently No Vacancy!!!
GROCERY STORE w/PROPERTY• Asking price: $1.29M• Sales: $2.6M(Liquor $0.5M included)• 2 Bedroom living quarters included
STRIP MALL IN CARSELAND• Asking price: $2.2M• NOI: $140,400• Building size: 12,600 sqft• Leased 100%
RETAIL BUILDING IN CALGARY• Asking price: $669,500• NOI: $35,800
LIQUOR STORE IN ELNORA• Asking price: $249,000• Sales: $450,000• Living quarters included
BUSINESS & INVESTMENTS
REGIONAL ROUNDUP Stability seen as government makes up nine of 10 top employers in Lethbridge
Please see Retro page B18
DAVE HUSDAL
WESTERN INVESTOR
ethbridge, sheltered behind an expanding wall of government pay-cheques, has been protected from
the global economic gales and the southern Alberta agri-business hub continues to enjoy envious growth. Developer Ken Harvie is among those who expect more of the same in 2012 and beyond.
“For all of our big-box development, as well as our downtown development project, we have a lot of activity right now on the commercial end, so we’re very optimistic for 2012 and 2013,” said Harvie, a partner in the Stranville Group.
Harvie’s firm has shown a willingness to immerse itself in Lethbridge, taking on every-thing from greenfield commercial and residen-tial development on the city’s south end to a downtown project to transform an old movie theatre into offices.
Its Coulee Creek Common project and near-by big-box developments on the city’s south end have become home to a critical mass of retailers, and with Lethbridge growing a comfortable 1.4 per cent in the past year, the demand for good commercial sites isn’t likely to disappear any time soon.
“We’re dealing with a multi-national right now that we’re close to having a deal com-pleted with that’s for over 100,000 square feet,” Harvie explained, adding his firm has also heard from other retailers about two other major buildings, but isn’t in formal discussions at this point.
There’s clearly still a demand for the city’s best land – and it’s easy to see why the windy
city remains steady in Alberta’s boom-and-bust economy.
While many of Alberta’s second-tier cities are largely or almost entirely dependent on the resource sector, Lethbridge springs from agriculture, and remains stable because of its significant public-sector presence.
Indeed, nine of the city’s 10 largest employ-ers are public-sector enti-ties, from Alberta Health Services to the accomplished University of Lethbridge.The latter, Lethbridge’s sec-ond-largest employer, is in line for more than $5.6 mil-lion in provincially funded building upgrades, and is starting construction soon on a new $32 million residence complex for an additional 259 beds. It is also receiving a $2.3 million grant to pay for planning work on a long-anticipated science building. On top of that, the university moved up two spots in Maclean’s Canadian university rankings this year – to fourth out of 22 primarily undergradu-ate schools.
The university’s 1,720 employees add stabil-ity to everything from the housing market to retail sales. So does the bustling LethbridgeAgriculture Centre, situated just outside the city. It boasts around 625 staff involved in a wide variety of research. Lethbridge Collegeadds another 930 employees to a market that’s insulated far more than Red Deer or Medicine Hat from downturns in natural-gas drilling.
The major 17 private-sector employers in the city includes Sunrise Poultry, the largest of three food processors, and trucking giant H &
R Transport Ltd. The trucking company has grown from its strategic location at the junction of Highways 3, 4 and 5 to employ more than 900 people.
“We don’t seem to get the dramatic highs and lows. We’re in a low right now, but our low is not a low like Calgary’s,” offered Harvie, who grew up in southern Alberta and understands what keeps Lethbridge humming.
Lethbridge’s population grew to 87,882 resi-dents this year, a 1.4 per cent hike over 2010. While residential growth was again strongest on the west side of the Oldman River, com-mercial growth is focused on the south end, with the city’s downtown focused more on redevelopment. Harvie doesn’t see that chang-ing, even with 32,000 folks choosing the west side as home.
That’s because most west side residents still work on the east side of the river (the university is the only major westside employer) and west-side retailers can’t survive simply from revenue
that ramps up at 4 p.m. and disappears fivehours later, Harvie says. While a new complex for public and Catholic high schools opened with a public library branch on the west sideover a year ago, major commercial develop-ment may be years ways away for the west side.
“It’s going to take some creativity and it’s basically going to take a shortage anywhere else of good commercial lands to spur that on,” Harvie said.
In the meantime Harvie’s firm has eyed stra-tegic investment in the city’s core with a rede-veloped office complex downtown. It’s alsoplanning a downtown residential tower, thoughmarket conditions haven’t led it to chase down a development permit just yet.
The city’s downtown, its traditional retail centre, has lost market share to big boxes on
(TOP) Downtown Lethbridge: new com-munity centre, retail and housing under-way. (LEFT) Expanding University of Lethbridge, with 1,720 employees, is the second-ranked employer in the city.
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B18 Alberta www.westerninvestor.com DECEMBER 2011 WESTERN INVESTOR
WINDOW OF OPPORTUNITY!
Invest in land with development potential.
381 acres on Lake McGregor. Hour and 10 minutes SE of
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willing to lease [email protected]
Call KEITH LEESSUN CITY REALTY LTD.
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RETAIL OR OFFICE
AVAILABLE NOW!
• A Flagged Full Service Hotel strategically well placed in a Premier location, completely upgraded, significant mortgage financing, very strong revenue performances, a good investment with a big up-side potential going forward. Asking $26,900,000.
• A Superb 103 Room Limited Service Hotel, featuring a number of unique features, no differed maintenance, plus excellent curb appeal and exposure, well located in a region of tremendous economic diversity that should provide a significant degree of operational upside going forward. Asking $13,200,000.
• A Flagged 102 Room Full Service Hotel well located in a prime commercial area of a dynamic city, the stellar performance of its operation is attested to by its continuous outstanding growth in revenues, plus substantial up-side potential. Asking $12,900,000.
• A Flagged 95 Room Limited Service Hotel consisting of a variety of suites, well located with highway exposure and surrounded by a substantial number of conveniences, continued superb revenue performances that yield substantial N.O.I. that ultimately result in excellent return on equity and investment. Asking $13,900,000.
• A Flagged 48 Room Limited Service Hotel featuring indoor Swimming pool among its other amenities, very well located on a service road that gives it highway exposure, outstanding Revenue/occupancy performances. Asking $4,900,000.
• 4.6 Acres of Vacant Prime Commercial Land available for immediate Development in a most sought after location with main artery exposure and very high daily vehicle traffic count, priced for immediate sale at an asking price of $4,100,000.
• Located in a very popular Ski Resort A New Deluxe 2 - Bedroom Condo consisting of 2 - bathrooms, fireplace, cable among the many other superb Features, plus the many amenities such as swimming pool, sauna, fitness center, indoor parking to name a few within the Building Complex. Immediate possession available, a great buy with cash to an existing mortgage of $330,900 more or less, at the Asking Price of $499,000.
CURRENT OFFERINGSBUSINESS FOR SALE!
Tim Walsh,Commercial Realtor®Direct: (403)239-5100
Calgary, Alberta
Tim Walsh, Commercial REALTOR® • Direct: (403)239-5100Email: [email protected]
www.BestAlbertaRealEstate.com
- Speciality Service business in Calgary- Very profitable; great margins- 30 + years in business with multiple owners
- Good location and lease- Minimal staff required; easy to learn- Price: $650,000
JERRY RACZKOWSKI780-932-2121 [email protected]
ROB REGAN 780-490-9324
Bring Alberta and British Columbia Investment Opportunities to the Chinese Market Place
MARKET YOUR REAL ESTATE PROJECTS TO
CHINESE INVESTORSWANTED:
APARTMENT BUILDINGS AND MULTI-FAMILY
SITES IN BC & ALBERTA
www.AlbertaInvestorGroup.comRE/MAX REAL ESTATE 10510 121 St., T5N 1L4 Edmonton, AB
Beijing, Chinghai, Tianjin, China Investments Real Estate Shows
from B17the south end for a decade, but it isn’t exactly fading into oblivion. Nor is that scenario likely, given entrepreneurs like Lynette Harder, a professionally trained speech pathologist who loves coffee, raising a family in the city and old buildings.
Those passions led Harder and her husband to buy a long-neglected building downtown about six years ago. They now use the land-mark at Fifth Street and Third Avenue South as the home base for Express Coffee & Tea.It’s a coffee service aimed at offices and other businesses with a retail presence that employs a dozen people. The extensively renovated second and third floors of the building boast six unique residential suites that serve the housing needs of folks who prefer to be down-town.
“I love this building. I love this location. I think the building suits the business,” said Harder, who is more than happy she invested in a structure that’s past its first century in the city’s core.
She admits downtown seemed a little like a ghost town when she made the move from a hard-to-find north Lethbridge location to the one she sees as a big advantage now.
“Since we’ve moved here I’ve seen huge improvements in the downtown, and I see it continuing to go in that direction,” said Harder, whose business is across from Galt Gardens, a major park that’s home to various special events each year.
Third Avenue will soon boast more traffic a few blocks east of Harder’s store on a former supermarket site. That’s where the city is con-structing the new Lethbridge Community Arts Centre at the corner of Eighth Street. The $20.7 million project, expected to be finished in early 2013, will offer everything from gallery and studio space to music conservatory classes. The site may also have a performing arts centre, though city council has yet to find cash in its capital budget for the latter.
A 2010 study recommended a 153,000-square foot facility with a 1,250-seat theatre and a 250-seat rehearsal/recital hall, but its price tag of $70 million caused some sober sec-ond thought. A subsequent report has advised a more modest complex for $42 million.
More downtown improvements seem inevi-table, even if the performing arts theatre project doesn’t go ahead.
George Kuhl, the city’s downtown revital-ization manager, says the city is looking at what else it can do to enhance pedestrian traffic on key downtown streets in the existing business revitalization zone.
For his part, Harvie sees downtown rede-velopment as possible and profitable, with the right opportunities. That’s why his firm sank cash into an old theatre for an office complex a block west of City Hall along what he calls “Banking Row.”
Kuhl says he expects the downtown will continue to evolve through mixed-use rede-
velopment that’s focused on pedestrians.Noted Kuhl: “Most of what we see righ t
now is redeveloping buildings that are alreadythere.”
While “steady” may not be the dream adjec-tive for a city that’s appealling to investors, thesometimes-outspoken Harvie says his commu-nity has proven it can get things done.◆
2011 building permits (Jan.-Sept. ‘11) $129 millionDifference from 2010 -12.2 per cent Average single-family house price $281,628Average per-square-foot commercial lease rates Retail - $14.41; office - $12.57; industrial - $7.23Industrial lots $400,000 per acre
Calgary
Brooks
Crowsnest Pass
ALBERTA
Strathmore
✪3
2
1
1
High RiverOkotoks
LETHBRIDGEClaresholm
Babb
Coutts
Sunburst
Whiskey Gap
U.S.A.
ALBERTA PROPERTIES
FOR SALE• EDMONTON WEST END - 12 UNITS Walk-up apartments,
all two bedroom units. Larger size with large storage room, excellent condition, excellent location. Asking $1,560,000.
• WEST EDMONTON - 14 UNIT APARTMENT good suite mix, extensively renovated, High occupancy Asking $1,890,000.
• SMALL STRIP MALL in Edmonton metropolitan area small town, anchored with A&W and KFC, busy traffic, great location. Asking $2,200,000.
• 62 ROOM HOTEL & RESTAURANT in a booming small town in Alberta, excellent location, well maintained, very high occupancy, Asking $7,900,000
For more information please contact:SAM SIT (BROKER) at780-413-4800 Ext. 27
or email: [email protected] REALTY INC.
WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com Alberta B19
Each office is independently owned and operated.
Each office is independently owned and operated.
RICK D. JENKINS780-990-6120 cellEmail: [email protected]
POLARIS REALTY Commercial Realtor
INVESTMENT PROPERTIESFOR SALE!
18 UNIT WALK UP apartment in west Edmonton. Many upgrades. Good location.Exclusive listing at the best price per door price on the west end. $1,530,000
23 UNIT APARTMENT, University area, nice condition and 5.75 cap. Call for proforma
13,231 SF, 5 BAY RETAIL STRIP MALL in Leduc, AB. with solid long term tenants. 9 years old. NOI over $153,000 per annum. 7 cap at $2,095,000
68 FULLY SERVICED MOBILE HOME vacant titled lots located within a modern Mobile Home Park in High Level, AB. Fully serviced, paved roads, underground utilities, fenced and landscaped. MOTIVATED SELLER MAY CARRY 60% FINANCING FOR A QUALIFIED BUYER! Price just slashed to $975,000! MLS # E1014318
Looking for investment properties for all ICI categories. Fully qualified buyers. Call now for your complimentary evaluation and allow my 21 years of banking and 13
years of commercial real estate experience to assist you!
WANTED!I have clients with CASH
looking to purchase Shopping Centres,
Strip Malls and Gas Stations in Alberta!
Call SammyEMPIRE REAL ESTATE GROUP
780-906-6652DUSTY SMITH TEAM
SUTTON LANDMARK REALTY / RED DEER, AB403-347-0744 • www.dustysmithteam.ca
CENTRAL ALBERTA CAMPGROUND OPPORTUNITIES
LAKEFRONT! 403-347-0744
KACIKEWIN CAMPGROUND & CABINSOnly 40 min. west of Edm. 10.00 +/- Fully treed acres. 89 beautiful lakefront sites. Fully rented last 9 yrs. Store/Manager's residence. Room for expansion! Large sandy beach area.
DICKSON LEISURE GROUNDSCentral between Calgary & Edmonton. 208 fully rented lakefront sites. New pool and trout pond. Exceptionally well maintained. 19.00 +/- acres. On popular Glennifer Lake. Great fishing & boating for all water sports.
$3,250,000 $7,500,000
LAND & BUILDING ONLY
GREAT LOCATION/REVENUE
1.1 ACRE PAVED
LOT. 16,800 SQ.FT.
INCLUDING 2,000
SQ.FT. MEZ/OFFICE.
$1,175,000
REVENUE OPPORTUNITIES
4-PLEX IN COLD LAKEPRICE $525,000 FULLY OCCUPIED
Larry Melanchuk, Associate Broker Cell: 780.826.0100 www.coldlake.info
TF: 1.800.707.8374 A Division of Cold Lake 2000 Realty. Independantly owned & operated.
RE/MAXCold Lake
2000
2 COMMERCIAL VACANT LOTS ON 50TH STREET IN COLD LAKE ideal for new develoopment 110 ft of frontage $239,900
Adjacent lot to the above 165’ x 125’ with a 40’ x 60’ warehouse. All chain link fenced $239,900
7.2 ACRES ZONED HIGHWAY COMMERCIAL Services prepaid $749,900
INVESTMENTS CALGARY AREA
RE/MAX ACA REALTY
(403) [email protected] Realty
CROSSFIELD – 2 – 2 acre industrial lots – for sale or lease
industrial complex
CARSTAIRS –priced to sell
64 seat restaurantnorth of Calgary
AIRDRIE
2500 sq. ft.
137 acresCrossfield
141 acres Crossfield
132 acres highway #2 frontage
279 acres
¾ acre
137 acres #2 highway frontage
East Balzac
BEISEKER
PRICED TO SELL
CAR WASH
320 acres
151 acres AirdriePRICED TO SELL
For more information on these and other properties
DON SACKETTcall
RE/MAX real estate central alberta
OPPORTUNITIES AT SYLVAN LAKE,
ALBERTAAwesome Investment Opportunity Land and Building on Lakeshore
Drive - LOCATION IS KEY!Across the street from the beach, outdoor patio to take in the view,
Priced to sell at $790,000
Call CARL STEPP cell: 403-358-9300
www.sylvanlakehouseguy.com
185 ACRES WEST OF CALGARY
$4,000,000
DEVELOPERS - guidelines are to develop this land into 1 acre parcels “OR” Build your
dream estate home and secure its value with the land. Unsurpassed views of the Rockies.
GORDON LACKEY REALTOR®
TELE: 403-932-5419 TF: 1-888-932-5419
EMAIL: [email protected]/MAX Real Estate (Mountain View)
REACH QUALIFIED BUYERS FOR YOUR LISTINGS
call Gary Takahashitoll-free: 1-800-661-6988direct: (604) 608-5111 or fax: (604) 669-2154
Attention
Agents:
B20 Alberta www.westerninvestor.com DECEMBER 2011 WESTERN INVESTOR
Val ToffoliPhone: 780-707-9395
REALTY EXECUTIVES POLARIS4107 - 99th Street, Edm, AB T6E 3N4
Email: [email protected] • www.valtoffoli.com
Selling Edmontonsince 1987
APARTMENT BUILDINGS:• 2 Units – Full Side by Side Bi-Level Duplex. Great West
End Location. Needs some TLC & priced Accordingly! ONLY $479,000
• 12 Ste Character Bldg. Owner Managed & Well Maintained. Large Stes. Central. Some upgrading to suites - REDUCED!
• 12 Ste Character Bldg. Central McDougal. Over 6.5% cap rate. Some upgrades. Seller open to Reasonable Offers!
• 18 Ste – Ctl QMP – 6.7% Cap Rate; 3 Appliances (Dishwashers); Some Covered Parking. Many Upgrades in & out!
• 20 Ste – Ctl McD – 6.12% Cap Rate; Multitude of Upgrades – Excellent Ste Mix ranging from 575-880 sq.ft. Balconies
• 20 Ste – Ctl McD – 6.59% Cap Rate; Major Upgrades; Great Ste Mix (only 9/20 are 1 Bdrm!) Seller 2nd VTB Mtg Possible
• 42 Ste – Ctl QMP – 2 S x S projects – Over 6% Cap Rate; Many Upgrades; Super Ste Mix with LGE Stes! 2nd VTB Mtg
B & B - HEALTH RETREAT – DEVELOPMENT - EXECUTIVE ESTATES
• 74 BEAUTIFULLY TREED ACRES in Parkland County near Edmonton/Devon. Unique 6600 sq. ft. Architecturally Designed Home with 8 Bdrms - 6 Baths. Outdoor Pool-Horse Shelter-Triple Garage. Presently a Residential Estate.
• BUILDERS/DEVELOPERS: 40 acre parcel ready for submission to county for 8 lot subdivision. Bonus: 1 lot features gorgeous 3632 sq. ft. Executive home with triple garage & 2 large shops – excellent home base for builder/developer. Across from 1 of the most prestigious subdivisions in parkland county.
WANTED: APARTMENT BUILDINGSHave Qualified Buyers Ready to Purchase!
Colliers Macaulay Nicolls Inc.3555 Manulife Place, 10180 – 101 StreetEdmonton, AB T5J 3S4
+1 780 420 1585www.colliers.com Accelerating success.
AIRCRAFT HANGAR FOR SALEHighway 830, Warren Thomas Aerodrome, Strathcona County, Alberta
Ken Williamson, CFADIR +1 780 969 [email protected]
Waterfront Pub & Detached Liquor Store
Land, buildings and businessPrince Rupert, BC $2,500,000
BC’s fastest growing super port city
JOHN JOHNSON Tel: 604-319-2504Fax: 604-463-5287
PRUDENTIAL STERLING REALTY LTD.
For Lower Mainland Pub Opportunities call:
PUBS For Sale
Write: 5204 – 50 Ave., Camrose, AB, T4V 0S8Toll Free: 1-888-672-4426
Cell: (780)878-1063 Fax: (780)672-2469Email: [email protected] www.camrose.ca
RAYTELFORD
Prime Highway Commercial Lots
Next to our New Hotel, Convention Centre
and Casino3 to 4 Acre Parcels - $175,000 per Acre
THE CITY OF
CAMROSETHE REGIONAL CENTRE OFEAST CENTRAL ALBERTA
Pam Gill(780) 455-4088
www.apartmentsinedmonton.com
sutton central commercial real estateAN INDEPENDENT MEMBER BROKER
For full Proformas, Call or [email protected]
PH: (780) 455-4088 Fax: (780) 455-4048 www.apartmentsinedmonton.com
Sutton Central Commercial
EDMONTONAPARTMENT PROPERTIES
15 SUITES, NAIT ...............................$1,575,00015 SUITES, Downtown .....................$1,425,00020 SUITES Cromdale ........................ $1,950,00020 SUITES Cromdale ........................ $1,960,00022 SUITES, Downtown .....................$2,420,00030 SUITES, Westend ........................$2,900,000NEWER WAREHOUSE, 1455 sq. ft. ......$369,000
PROFIT FROM EDMONTON'S DOWNTOWN REVITALIZATION!
• High visibility Location• Over 11,000 s.f. usable space• On 3 titled lots• Office and warehouse space
Only $685,000DON'T WAIT TOO LONG!
Call Gerald TostowarykTHE REALTY COMPANY
(780) 452-2700
For further information, contactGary & Renée Anderson
Hospitality Sales SpecialistsDirect: 780-432-1408
Carton Realty Ltd.Office: 780.444.6605
HOTELOPPORTUNITIES
Please Call Bob Chinn, Assoc.([email protected])
Web: chinnproperty.com
or Mark Wilbert, Assoc.([email protected])
CENTURY 21 A.L.L. STARS REALTY LTD
Ellerslie RE-Development Site Four acre site on the northwest corner of Ellerslie Road and 66th Street close to the Edmonton International Airport. Presently, zoning is being changed to commercial. New developments along 50th Street and Ellerslie Road include a new Edmonton Recreation centre development and the Edmonton Park and ride. 50th street connects onto Beaumont and Anthony Hendey Freeway. Highway to Beaumont is in expansion phase.
OFFICE BUILDING FOR SALE. Prime Location. On Jasper Avenue and 114th street in the Oliver Area. 4 storey building consisting of 56,012 square feet . Property is on 3 lots (50 feet x 150 feet) with also parking lots (92 feet x 150 feet) in the rear. Property is wedge between two drugs stores (Shoppers Drug Mart and Medicine Shoppe). New developments all around. ELLERSLIE RE DEVELOPMENT SITE 80 acre parcel across from the new Edmonton Recreation centre along Ellerslie Road.PULSE POINTE DEVELOPMENT SITE. Located in the Quarters project on 95th street and 102 Avenue. A total of 4 lots (14,200 sq.ft.) (142 ft frontage and 100 ft deep. Presently, building is 11,840 sq.ft. This is a new up and coming area. Plans for future LRT system is slated for the area. Asking $ 3,300,000OLD STRATHCONA BUILDING. Located on Prime 82nd Avenue and 103 Street. Historical building. Long, long term Tenants, built in 1895. Building is 1650 sq.ft. of main floor with 12 foot ceilings. High ceilings in basement. Well looked after building. Asking $ 1,100,000
GEORGIO’S BUILDING. Located across the street from Strathcona High School along busy 104th Street and 72nd Avenue. Main floor is 3,500 sq.ft. with fully fixture restaurant and Upstairs is 1,600 sq.ft. presently used for office. Great owner user opportunity. Asking $ 765,000LAND AND BUILDING FOR SALE. Over 9,000 square feet on the main floor. Living quarters upstairs with a basement level, parking to the east of the building. Lot is 14,577 square feet (120 feet x 122 feet) Located in the Quarters project on 95th street and 102 Avenue. This is a new up and coming area. Plans for future LRT system, hotels and high rises is slated for the area. BUSINESS CONDO IN OLD STRATHCONA 1500 square feet perfect for professional use, has 6 offices, storage, kitchen, reception area. In desirable Strathcona. Close to all amenities, busy traffic.FREESTANDING BUILDING. Fully leased out on busy Jasper Avenue on a 50 x 150 lot. Building is two storey approx. 5,000 square feet on the main floor with paved parking in the rear.
EDMONTON & AREA
PH: 780-434-4700
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EAST CALGARY - 84 ST. SE98 Acres near Stoney Trail
$15.6 Million
ROCKY MOUNTAIN HOUSE Golf Course, Campground and Development Land. 303 Acres,
Zoned Recreational$3.79 Million
ROCKY VIEW 160 Acres on Country Hills Boulevard
$5.6 Million
EAST CALGARY - 17TH AVE SE 160 Acres near Stoney Trail
$20 Million
EAST CALGARY - 84 St. NE 160 Acres near Stoney Trail
$32 Million
EAST CALGARY - 17 Ave SE 13.52 Acres Stoney Trail Frontage
$6.76 Million
CHESTERMERE- SIERRA VISTA
Single & Multi Family, Retail, Golf Course, Area Structure Plan.
5-7 Units Per Acre 53 Acres - $6.9 Million
88 Acres - $10.2 Million140 Acres - $16.1 Million160 Acres - $18.4 Million
KEVIN MOORE(403) 617-2846
4 St. NEoney Trai
RY ear StoM
Acres ne$32
160 oney Trailillion
WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com Alberta B21
Calgary’s East Village linked Calgary has opened the four-lane Fourth
Street S.E. underpass, a joint effort of Calgary Municipal Land Corp. and the city, which will spur downtown develop-ment It connects Stampede Park and the Saddledome with the redeveloping East Village, dipping below the CP Rail tracks.
The $70 million underpass project is a criti-cal piece of infrastructure to accommodate 22,100 vehicle trips a day once the build-out of East Village is complete.
“This underpass is critical to the future development of East Village,” said Michael Brown, CMLC’s president and CEO. “But it also supports the Calgary Stampede master plan redevelopment, the National Music Centre and other projects slated for the area.”
Apart from wide, pedestrian-friendly side-walks and dedicated bicycle lanes, the under-pass features state-of-the-art LED lighting in its walls and handrails.
Edmonton arena inches closer Edmonton took major steps in late
October toward the construction of a new downtown arena.
Following approval of a financial framework for the $450 million arena – the city will pay $125 million directly to the project, and $125 million will be generated by a ticket tax – the city moved ahead with $41 million in land purchases to accommodate the arena and related developments.
The Katz Group, which owns the NHL’s Edmonton Oilers, is committing $100 million to the new city-owned arena, while the city plans to keep chasing federal and provincial contributions to generate the remaining $100 million for its arena budget.
The city has defended the land purchases for the arena site and surrounding amenities, which amount to almost 16 acres.
“Owning the land around the arena allows the city to have greater control over the type and pace of development,” said city manager Simon Farbrother. “In the end, the city will only own the land needed for the arena and associated infrastructure. Buying the rest now is strategically important for development in the area, and the city will sell it at the appro-priate time.”
Alberta’s largest bridge opens in Fort MacMotorists travelling in and through
Fort McMurray are now driving over Alberta’s largest bridge deck – one that cov-ers an area equal to five football fields.
The brand new $127-million Athabasca River Bridge carries Highway 63 over the river. It opened to four lanes of two-way traffic, but will eventually carry five lanes of northbound traffic over the river.
“This milestone puts us well on our way to our ultimate goal of having 10 lanes of traffic flowing over the Athabasca River,” said Ray Danyluk, Alberta’s minister of transportation. “This new bridge is a key part of an overall plan to move people and goods safely and efficiently in Fort McMurray.”
New freeway opens NW Edmonton The much-anticipated opening of the
northwest section of Anthony Henday Drive gives truckers and commuters access to 21 kilometres of free-flowing road in the capital region. The $1.42 billion portion of the freeway runs from Yellowhead Trail on the west side of Edmonton to Manning Drive and reduces travel time significantly. It’s a big plus for developers in the city’s north-
The future is looking a lot brighter these days for
developers and taxpayers in the northeast Alberta com-munity of Cold Lake.
That’s because the city’s long pursuit of a better finan-cial situation has yielded a commitment from the province to share millions of dollars of tax revenue annually with the oilsands city, population 14,500.
Under a deal that involves several municipalities, not to mention the quiet creation of a new provincially administered improvement district, tax revenue from oilsands plants on what’s known as the Cold Lake Air Weapons Range will bolster city coffers starting in 2012. That revenue had been flowing only to Lac La Biche County. The county will in turn receive some compensation from Cold Lake. The Municipality of Wood Buffalo, which contains Fort McMurray, will lose some revenue to Lac La Biche County under the arrangement, but gain access to Crown land for development.
For Cold Lake, the deal means phased-in access to somewhere in the neighbourhood of $18 million annually in new property tax revenue, more than it’s collecting from all its beleaguered taxpayers in 2011.
“We’ve been very consistent with regard to the city’s concerns over its escalating infra-structure deficit combined with an unbalanced municipal tax base, which is comprised of mainly residential assessments,” said Cold Lake Mayor Craig Copeland. “This was unsustain-able and simply not viable.”
The deal means a municipality that had been making noise over the years about shutting down development and dissolving into the surrounding Municipal District of Bonnyville will be in a much better position to handle future expected oilsands expansion in the area.
The MD will be paid $600,000 in 2012 by the city to maintain roads accessing its new cash cow, with that amount escalating in future years.
Interestingly, new provincial Premier Alison Redford has been fairly silent on the initia-tive, despite a flurry of media coverage in northeast Alberta.
As of November 1, the province had yet to issue even a news release on its controversial tax re-allocation scheme. Of course prominently announcing an about-face might seem risky for a government that 16 months earlier was telling Cold Lake it was sustainable under existing taxation models.
Cold Lake has access to huge tax pool.
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west and in neighbouring St. Albert.The project is completely free flow and
includes eight interchanges, five fly-overs and two rail crossings, for a total of 27 bridge structures. With the opening of this leg, the freeway is 90 per cent complete and travellers have access to a total of 69 kilometres of free flow on Anthony Henday Drive.
Northwest Anthony Henday Drive is the single largest public-private partnership transportation investment to date for the Alberta government. The contract is with Northwest Connect General Partnership to design, finance, build and maintain the new portion of freeway.◆
– Compiled by Dave Husdal
Contact JEDI for yourbest business advantage
(780) 361-6231email [email protected]
www.jedialberta.com
C I T Y O F W E T A S K I W I N • T O W N O F M I L L E T • C O U N T Y O F W E T A S K I W I N
"The JEDI region offers Kimto Manufacturing a number of advantages including a good transportation network,a very low cost of doing business, and access to a broad range of skilled labour."
B22 Alberta www.westerninvestor.com DECEMBER 2011 WESTERN INVESTOR
Ken Shebib, CCIMMOB +1 780 863 7355
DIR +1 780 881 6297
Ken Shebib, CCIMMOB +1 780 863 7355
DIR +1 780 881 6297
26.99 ACRES OF INDUSTRIAL LAND
Fort McMurray, ABLocated on Hwy 69 close to the
planned airport terminal
COMING SOONFort McMurray, AB
Up to 300,000 sqft of Industrial Development. Build to suit from 5,000 square feet
and up. Close to airport.
KUUSAMO DEVELOPMENTSFort McMurray, AB
5 bays sold or leased, only 5 bays remain
145 MACMILLAN RD.Fort McMurray, AB
16,800 SF industrial building, fully leased, NOI $700,000 rising to $750,000 in 2013
INDUSTRIAL BAYSFort McMurray, AB
12,978 SF, for sale or lease3 bays sold, 1 available
7 ACRES LANDFort McMurray, AB
Ready for 11,000 SF office, 16,000 SF industrial shop
10020 BIGGS AVENUEFort McMurray, AB
53,300 SF land with 13,000 SF building. Excellent redevelopment C5 Land. (California Club Bingo)
20,000 SF RETAILFort McMurray, AB
For sale. With or without business. Available immediately. Excellent
exposure in a newer building
2 LOTS WITH LAND & BUILDINGSFort McMurray, AB
280 MacLennan Crescent 10% Cap rate. $6,775,00. 290
MacLennan Crescent 2.33 acres
w/ 6,000 SF shop. $5,450,000
INDUSTRIAL BAYS FOR SALE OR LEASE
Ready August 1, 2011 occupancyTaiga Nova Eco Industrial Park
Hotels
Colliers Macaulay Nicolls Inc.3555 Manulife Place, 10180 – 101 StreetEdmonton, AB T5J 3S4
+1 780 420 1585www.colliers.com
Fort McMurray Opportunities
Alberta Opportunities
Land Opportunities
Retail Investment Opportunity
16,164 SF RETAIL BLDG542-24 St., Fort MacLeod, AB
Fort PlazaFully leased to 5 tenants
NOI - $162,323Anchor tenants: Fields, Anderson
Liquor, The Cash Store
HEALTHWORKS BUILDING10303 65 Avenue, Edmonton, AB12,044 sf 2 storey office/ retail,frontage on Gateway Boulevard,
Price $1,400,000
OUTBACK STEAKHOUSE BUILDING
2874 Calgary Trail, Edmonton, AB7,063 sf freestanding retail pad.
Net income: $190,701/yearPrice: $2,200,000
PONOKA LUBE-X BUILDING4714 - 50 STREET, PONOKA, AB
2,512 sf freestanding building, strong Covenant Tenant,
Average Rental income - $69,500 Price - $868,750
PONOKA TOWNE CENTRE5011-48 Avenue, Ponoka, AB26,782 sf fully leased retail complex. The Bargain Shop, Medical Clinic, Pharmacy.Year I Income - $298,367
Price: $3,500,000
CAMROSE LAKEFRONT LANDFOR SALE
+/- 100 acres
Significant gravel deposit
823,820 cubic meters of proven aggregate
reserves.
Price: $1,000,000
SOLD:WABAMUN LAKE LANDSLakeshore Road, Parkland County, AB
9.09 acres of lakefront land zoned CR
(Country Residential District)
142.84 acres of AG zoned land
One of Alberta’s most popular lakes
Sold for $1,600,000
RED DEER LANDFOR SALE
404 acres of prime future residential land
8.9 kilometres of river frontage
Recently annexed into Red Deer City Limits
Price: $15,000,000
($37,134 per acre)
BELLWETHER PARK13124 130 Avenue, Edmonton, AB
FOR SALE
3.72 acres of land shovel ready for 76
row-housing units
Price: $2,800,000
SOLD:SYLVANCROFT LANDS
12719 Stony Plain Road, Edmonton, AB2.05 acres of residential infill land, superb
location in the highly sought after, and
prestigious neighbourhood of Groat
Estates.
Sold for $2,500,000
80,000 SF BUILDINGPonoka, AB
22 acres, Highway 2 exposure
24 ACRESRimbey, AB
Residential & commercial
development on Highway 53
NEWER RETAIL STRIP MALLEdmonton, AB
3 buildings totalling 16,259 SF, south Edmonton, principles only
Multifamily Opportunity
FORT MCMURRAY AIRPORTFort McMurray, AB
Hotel development opportunity. New terminal. Call for details.
BEAVERLODGE MOTOR INNBeaverlodge, AB
Two hotels, 60 rooms, revenue of $4 mil. Asking $5,500,000
2-12,000 SF BUILDINGSEdmonton, AB
Calgary Trail, office/retail centre, for sale or lease, Stony Plain Road
and central Edmonton for sale
EM TE TOWNAlder Flats, AB
Unique western themed town with cabins, campground and motel,
operating business with excellent growth and upside
Land & Building Opportunities
Perry GerelukDIR +1 780 969 [email protected]
Accelerating success.
Casey McClelland Mark SwaenepoelDIR +1 780 969 3003 DIR +1 780 969 [email protected] [email protected]
15 UNITS PENDINGEdmonton, AB
West end location, one block away from approved LRT route,
6 three bedroom suites
48 UNITS PENDINGRed Deer, AB
75% two bedroom units, large
suites, ravine views, oversized
site size
21 UNITS PENDINGEdmonton, AB
NAIT location, turnkey project,
upside via LRT expansion
www.colliersmn.com\edmontonapartments
14 UNITS SOLDEdmonton, AB
North location, new PVC windows, 12 - two bedrooms,
upside on rents
129 UNITS AVAILABLELondon, ON
11 Storey concrete high rise, condo quality, strata titled
12 UNITS NEW LISTINGEdmonton, AB
Centrally located, close to NAIT LRT route, new roof, boiler
and windows, fully renovated, turnkey project
Amit GroverDIR +1 780 969 [email protected]
Jandip DeolDIR +1 780 969 [email protected]
FLAGGED HOTELEdmonton, AB
Full service hotel. 90 rooms.
Leased F&B. Asking $8,750,000
DAYS INNDawson Creek, BC
Occupancy rate above 80%. 85 rooms. Asking $11,150,000
WEST COUNTRY INNDrayton Valley, AB
Limited service, 52 rooms, built in
2005. Asking $4,100,000
Mark SwaenepoelDIR +1 780 969 [email protected]
Rick ArgueDIR +1 780 969 [email protected]
Jeff GrobmanDIR +1 780 969 3031jeff [email protected]
Steven PearsonDIR +1 780 969 [email protected]
TOWER PARK LANDGrande Cache, AB
86+ acres for development in Grande Cache
ASP in place or modify as you desire.
Demand for housing in Grande Cache.
Residential, retail, offi ce, multi-family and industrial sites to
be developed.
Interest from a food/grocery anchor tenant.
SOLD
City of WetaskiwinEconomic DevelopmentP.O. Box 6210Wetaskiwin, Alberta T9A 2E9 www.wetaskiwin.ca
• Commercial & Industrial Development Opportunities• Single Family Homes & New Apartments Required• 35 minutes to Edmonton and 60 Minutes to Red Deer
• Retail & Hotel Development Opportunities• SKYPORT at Wetaskiwin Airport Sites Available • 44,000 loyal shoppers in immediate trading area
For Details Contact:RONALD HOLLAND (780) 361-4404Toll Free: 1-800-989-6899 Edm Dir: (780) [email protected]
WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com B23REGIONAL ROUNDUP North Battleford pushes commercial development as northern oil plays fire up
Please see Incentives page B24
WI STAFF
WESTERN INVESTOR
hen Sierra Properties of Calgary went looking for residential opportunities in
Saskatchewan, North Battleford likely appeared an obvious choice.
With a growing population, a near-zero rent-al vacancy rate and the potential of an oil and gas boom, the northwest Saskatchewan city of 13,000 also has a shortage of housing and a tax exemption for developers.
In fact, when Sierra receives permits this month for a 43-lot subdivision, it will be the first private residential developer in years to break ground in North Battleford, according to the city’s director of economic develop-ment.
Sierra’s project, in the established Kildeer Park area, will likely be dominated by ground-level townhouses, said Dennis Levertu, who said primary demand in North Battleford is for new homes priced in the $200,000 range. “New detached houses sell for $280,000 or more,” he said.
Sierra’s move follows the release of residen-tial lots by the city, a new 21-unit condo project and the conversion of a downtown commercial building into rental housing.
Last year the city posted a record $47.9 mil-lion in building permits, but this has been over-shadowed with a $70.3 billion surge in permits through the first 10 months of this year.
For years, North Battleford has battled with a rental vacancy rate of around 1.2 per cent, one of the lowest in Canada, due to ongoing demand from construction workers.
“We think the vacancy rate may rise a bit now that some of the big [construction] projects are finishing,” Levertu said. These industrial projects, however, will also begin a new round of longer-term employment, which brightens
the small city’s economic horizon.These include the completion of the $250
million SaskPower natural-gas power-gener-ator project, the $12.6 million Canadian Feed Technology Research Facility by Cargill Ltd. and the University of Saskatchewan,and – the city’s jewel – the four-building, $55 million Cueplex, a large multi-purpose, com-munity and recreation centre that will be fully complete next year. Underway is a second proj-ect from SaskPower, the gas-powered North Battleford Energy Centre that will generate enough electricity to power the equivalent of 260,000 homes in Saskatchewan. The plant will fire up in 2013.
But electricity is not the only power lighting North Battleford’s future.
Recently, Allstar Energy Ltd., a subsidiary of 49 North Resources Inc., has begun explora-
tion and drilling for heavy oil in fields just south of the city, while oil company RalleymountEnergy Inc. is working on 65 sections of land just north of North Battleford.
North Battleford has enormous potential in the oil and gas industry, according to Tom MacNeill, CEO of 49 North Resources, who predicts the area will see a “tidal wave of money” rolling into over the next few years,
It has already spurred the movement of some major players into North Battleford. This October, Gritt Industries, a supplier to the oil and gas industry, relocated its headquarters from Lloydminster to North Battleford, taking up a 91,000-square-foot building in Pearson Industrial Park.
“The industrial development strategy contin-ues to fuel successful job and development growth. More and more resource development
companies are working in the area and NorthBattleford is positioned for exponential growthin the coming years,” Levertu said.
North Battleford is scrambling to meet that demand. The city has earmarked about $3 mil-lion to develop a new 14-acre industrial park,where it expects to sell serviced lots for around$150,000 per acre. As of October, $51 millionin industrial construction permits have been issued, five times higher than in all of 2010.
North Battleford is home to a large businessbase including well-established industrial companies such as Maple Leaf ConsumerFoods (the only bacon-processing plantin Western Canada), Mifab Mfg, G & C Asphalt, Kindersley Transport,EnviroSafeChemicals, Anderson Pumphouse and Unicon Pipeline. As well, all the major grain-handling companies operate inland terminalsthat support the grain industry in the area.
(TOP) North Battleford is one of the fastest-growing cities in Saskatchewan. (TOP RIGHT) SaskPower’s North Battleford Energy Centre under construction. (RIGHT)
Cueplex, a private- and public-sector multiplex, will be complete within a year. Phot
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INDUSTRIAL SPACE - For Sale or LeaseFORT MCMURRAY - Taiga Nova Industrial Park
www.property-solutions.ca
• 4.44 Acre Site • Lease or Purchase Options • 30' High Buildings • Experienced Developer & General Contractor • LARGE Rear Yard!
13,000 to 52,000
(Square Feet)
Fall201175% PENDING
MENT
ICR Commercial Real Estateicrsaskatoon.com
LEASING: STRIP & FREESTAND PADSFrontier Crossing, North Battleford, SKLand Size: 8.89 acres Available for Lease: 1,500 - 30,000 sq.ft. Located adjacent to Frontier Mall and Wal MartLease Rate: marketContact: Ron Ritchie & Davin Heiser
INDUSTRIAL BUILDING FOR LEASE 3927 Wanuskewin Road, Saskatoon, SKLand Size: 4.74 acresBuilding Size: 36,000 sq. ft. (240’ x 150’) Available for Lease: 8,000 - 36,000 sq. ft. Lease Rate: $11.00 per sq. ft.Contact: David Kerr & John Kachur
INVESTMENT OPPORTUNITYFOR SALE1201- 101st Street, North Battleford, SKAnnual Net Income: $72,000Cap Rate: 8.47%Sale Price: $850,000 Contact: Ken Kreutzwieser
INVESTMENT OPPORTUNITY105 WAKOOMA STREET, SASKATOON, SKLand Size: 0.71 Acres or 30,928 sq. ft.Building Size: 1,144 sq. ft. (approx.)Sale Price: $580,000Contact: John Kachur
“Saskatchewan’s largest commercial real estate company”
B24 Saskatchewan www.westerninvestor.com DECEMBER 2011 WESTERN INVESTOR
GRAIN LAND INVESTMENT
OPPORTUNITIES25% DOWN BALANCE MORTGAGE (OAC)
Call today for your opportunity
Acreages around Saskatoon - Call for infowww.SaskLand4Sale.com
Ed Bobiash Farm & Acreage Specialist
306-222-7770 [email protected] www.SaskLand4Sale.com
RE/MAX Saskatoon
Petrofka Bridge Orchard MLS® 410521 Acreage and Business opportunity 55 kms north of Saskatoon. On the North Saskatchewan River. Progressive apple orchard on 35 acres at the Petrofka Bridge. Commercial building with walk in freezer, refrigerator, processing room and retail area. 1996 bungalow 4 bedrooms, 3 bathrooms. $849,900
Shell Lake Gravel Land MLS® 399171 Investment opportunity. 136.94 acres just west of Shell Lake with gravel reserves. Seller has exposed aggregate for visual inspection. Seller has hired Resource Management International and buyers have access to a Electromagnetic Conductivity EM31 report. $1,199,000
SE Perimeter Investment MLS® 401141 160 acres for investment opportunity SE corner of Saskatoon 1 mile from city limits. New perimeter highway will border SE corner of the land. Major urban development close to this land. $2,200,000
Sterling Development Land MLS® Investment development opportunity 8 km east of Saskatoon 0.8 km south of Highway 5. Close to University, Innovation Place, Research Park and Canadian Light Source research facility. In close proximity to existing vibrant development area and adjacent to land recently approved for major acreage development. $889,900
SASKATOONAPARTMENTS Elbow- 134 acres
Prime Development LandParcel is currently zoned agricultural. Village will allow for commercial and acreage lots through application. Land is located on the east edge of village along highway. Village has recently opened up new residential lots with building going on. Elbow is home to one of the finest golf courses and huge deep water marina on Lake Diefenbaker; within driving distance to Saskatchewan's two largest cities. 145km to Saskatoon and 190 km to Regina. Asking $675,000 MLS.
Garry [email protected]
3020 Arlington Ave, Saskatoon
AWESOMESASKATCHEWAN!
Norland Realty
Call BIll [email protected]
INDUSTRIAL BUILDINGExcellent ownership opportunity-16,825 sq ft Industrial/Warehouse/Office Building zoned M2. Solid tenants and good leases in place. Some space available for Owner Landlord. 2.31 Acres with another 3 acres close by available for expansion. Excellent investment property in the heart of Oil and Gas country. $200,000 + rental income. $1.4 million. MLS® #411737.
ROADHOUSE BAR & GRILLjust 25 Minutes west of Kindersley in the heart of the Oil patch. Excellent opportunity to grow a food and beverage business which already has a steady clientele. The bar has 2385 sq ft with seating capacity of 93. The restaurant has 782 sq ft and can seat 46. Great atmosphere for a Country style bar with band area and dance floor. You own the land and building!! Take the time to come and have a look at this operation and see the potential. No financials available. $85,100. Have a look at the pictures. MLS® #409222
Wheat Country Realty#1 West Rd., Kindersley, SK
KINDERSLEYSASKATCHEWAN
Warren Kinnee306-261-7717
SASKATOON INDUSTRIAL /OFFICE LEASE SPACE
New space 2500s.f., includes 12' grade door, 22' ceiling, sump pit, 90' fenced compound. $12.00 nnn. Call today.
SATURDAY JULY 7, 201225 BIRCH DRIVE - INDIAN POINT
TURTLE LAKE
1.800.529.9958
SK Provincial Licence #914618
lake property
auctionsVery attractive
waterfront propertyon Indian Point atTurtle Lake, SK.
Recentlyconstructed (2004)
home for year-roundenjoyment of thisbeautiful location.
Gorgeous PelicanPoint Beachfront
property onMurray Lake
featuring beautiful3 bedroom cabin
or year-roundhome recently
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features 2x6 construction, firm sandy beach, landscaped withmany plants, trees & shrubs and perfect view of Murray Lake.
Paved access to the door.
FRIDAY JULY 13, 2012#30 PELICAN POINT - MURRAY LAKE
Watch for further details orfor more information contact
Ed Truelove at 445-5000
www.westerninvestor.com 1-800-661-6988
Please forward this information directly to
Frank O’Brien, Western Investor Editor at
Please send us the following information:
DONE DEALS editorial feature will highlight deal fl ow in Western Canada.
D O N E DEALS
BUSINESS & LAND FOR SALE
Maple Creek, SKFurniture store, established,
profitable 11 years in business. Fantastic
reputation. Located in Historic building.
Call 306.662.3612www.weswoodopportunity.com
from B23
But the real push and potential in North Battleford may be in commercial real estate. At least two hotel developers are scouting sites in the city and development permits for retail have soared to $11 million dollars in the first 10 months of this year, already surpassing all of last year when $7 million in commercial per-mits were issued.
A retail leader this year is the 200,000-square-foot Frontier Mall on the Yellowhead Highway, recently bought by Terracap Management Inc. of Toronto, where five new major fran-chises – including SportChek – have opened or are about to open. Frontier is also the site of the Gold Eagle Casino and the future site of a new 112-suite hotel.
The city, the largest landholder, has released more land for retail and office projects, with per-square-foot prices from $5.50 to $10, depending on the location. Top rates for new retail leases in the city are in the range of $18 to $25 per square foot. North Battleford is a regional shopping and service centre, with a catchment of approximately 62,000 people across the northwest.
Still – this is Saskatchewan – public payrolls that provide North Battleford’s economic base. Health care and community services are the main employer, with 17 per cent of the work-force, with education making up a further 9 per cent.
All this puts a demand on housing in NorthBattleford, and the city has taken advantage of a provincial program to offer help for homebuyers. Buyers of new homes can qualified for a $5,000 grant toward their down payment.
As well, developers can receive a two-yeartax exemption for new residential constructionin North Battleford.◆
Population 13,500Building permits (Jan.-Sept. ‘11) $70.1 millionAverage house price $200,000Acre, industrial land $150,000Major employers Government, retail, agriculture
14
4 1
✪NORTH BATTLEFORD
Saskatoon
Biggar
SASKATCHEWAN
Call Christine at the
marketing your franchise?
1-800-661-6988 • (604) 608-5110 • [email protected]
WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com Manitoba B25
CARMAN & NEEPAWA, MBFOR SALE – RETAIL PORTFOLIO – 9.5% CAP!
INVESTOR OPPORTUNITYTwo newly built, fully tenanted retail bldgs.
10 year leases in place
National Tenant with over 250 locations
Two buildings totalling 20,080 square feet
15% ROI with existing financing
Sale Price: $2,350,000 or $117 per sq ft 9.5% cap rate
Maintenance free, hassle free, sit back and collect rent!!!
Realtor cooperation – 2%
Contact: Gordon Green, Pinnacle Capital Corporation(604) 727-7095 or [email protected]
Family Opportunities!
Century-21 Westman.comBrandon, MB
Direct Line: 204-729-5074 Email: [email protected]
APARTMENT: 60 units plus, fully occupied, excellent condition,
financing in place, excellent investment!
STRIP MALLS: 8% Cap Rate, long term tenants, excellent locations
FAST FOOD FRANCHISES: 2 locations, priced for quick sale
GROCERY STORES: Price reduced by $50,000. Faithful customers!
HOTEL: 15 rooms, bar and restaurant, living quarters available!
ATEAH REALTY LTDMELODIE ATEAH BROKER/OWNER
1-866-755-5406www.ateahrealty.com
CASH FLOW PRODUCER, High traffic and high exposure, located in the heart of Hillside Beach and serving communities of Hillside Beach, Traverse Bay, and Belair. Located at commercial corner at Hillside beach, includes Domo gas, propane, convenience store, and restaurant. Includes business, land, building, and equipment, inventory at cost. Well established year round business, don't miss this excellent opportunity. 339,000.
MANITOBA MARVEL!
Retailers buckle into air terminal Four new retailers have set up shop
in perhaps the most secure area in Manitoba – the air-side of Winnipeg’s new terminal building.
Upper Crust sandwich shop, Asian eatery Red Wok, PGA Tour golf store and a pair of T.G.I. Friday’s restaurants – one for Canadian departures, the other for U.S.-bound pas-sengers – have christened their inaugural locations at James Armstrong Richardson International Airport on the air-side of the security check points.
Christine Alongi, spokeswoman for the Winnipeg Airports Authority (WAA), said research has shown today’s passengers are increasingly ignoring retailers on the public sides of airports because their priority is get-ting through security so they can relax before their flights.
The quartet of retailers will target the 3.5 million people who fly out of Winnipeg each year, a number that is expected to hit 5 mil-lion in the next 10 to 15 years, according to WAA projections.
A spokesman for U.S.-based T.G.I. Friday’s said if the two airport locations are success-ful, it will definitely consider opening outlets in other parts of Winnipeg.
Liquor added to grocery outlets A litre of milk, a loaf of bread, a stick of
butter and a bottle of tequila.For the first time in Manitoba history, the
items on this shopping list will be able to be purchased at a grocery store starting next spring.
The Manitoba Liquor Control Commission (MLCC) plans to open an unspecified number of liquor “express marts” in grocery stores in
Winnipeg and Brandon.The idea, according to MLCC spokeswoman,
Diana Soroka, is to put outlets in “underser-viced” neighbourhoods, particularly in the northeast and southwest parts of Winnipeg.
The new concept stores, which should be between 600 and 1,500 square feet in size, will be fully enclosed within their own four walls in the grocery store.
While they will offer a range of wine, spirits and beer, they won’t have the same breadth of product that full-service stores do, Soroka said.
Canada Safeway said it would respond to the MLCC’s request for proposal. Safeway spokesman John Graham said while it would be interested in having liquor offerings in a number of its stores, the MLCC stipulation that no express mart be located within two kilometres of a full-service location rules out many of its outlets right off the hop.
“We operate a number of liquor stores in Alberta and have seen the convenience of adding additional services in grocery stores, such as a bank, coffee shop and pharmacy,” he said.
City golf course tees investor The City of Winnipeg has hit a redevel-
opment hole-in-one.Looking to get out of the golf course busi-
ness, the city has signed an agreement with Quebec-based Nordik Spa-Nature to open up its Finnish spa concept at the Crescent Drive Golf Course in south Winnipeg.
The $7 million year-round facility will fea-ture dry saunas, cold waterfalls and temperate pools, steam baths, outdoor hot baths, out-door fireplaces and relaxation areas.
Scheduled to open in late 2012, the spa won’t target the high-end client that tends to frequent such locations. Instead, with a $45-per-day fee, its goal is to make the spa experience available to just about everyone, said Martin Paquette, Nordik’s CEO.
Golfers need not worry that the nine-hole course will shut down. Instead, Nordik will build a new clubhouse for them – the old one has already been demolished – and will
With the ribbon-cutting of the biggest construction project in Winnipeg’s
history now in his rear-view mirror, Barry Rempel isn’t going to sit around and watch the paint dry.
The president and CEO of the Winnipeg Airports Authority said the opening of the new, nearly $600 million air terminal build-ing at the James Armstrong Richardson International Airport not only represents a new front door to the Manitoba capital, it’s shaping up to be an important economic catalyst, too.
GE Canada is preparing to open a new $50 million engine-testing facility between the airport’s two runways in January and Rempel is confident other industry players won’t be far behind.
He said companies that work with hydraulic valves, engine parts and turbines will want to form a cluster with GE as the focal point.
And with more than 20,000 people working at the airport in one capacity or another, he said the demand is there to add other services to the airport campus.
The GE plant will reportedly be able to handle engines with 150,000 pounds-feet of thrust and 15-feet-in-diameter engines.
“There’s no such animal today,” Rempel said.
Expanded James Armstrong Richardson International attracts GE Canada.
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Airp
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service hungry golfers with the same kitchen that takes care of spa-goers.
Earlier this fall, the city put out an expres-sion of interest to see if anybody was inter-ested in buying seven of its golf courses for commercial or residential development or to assume their long-term lease. That move came after auditors discovered the city-owned courses were deep in debt.
Old Jets logo mothballed Perhaps the most popular retro logo in
National Hockey League (NHL) history is being retired – for now.
True North Sports & Entertainment, owner of the new Winnipeg Jets hockey fran-chise, has purchased the trademarks for its predecessor’s logos of the 1970s, ’80s and ’90s.
Local retailers say they’ve been told the production of T-shirts, jerseys, hats and other
items featuring the old logos has ceased and only goods featuring the newly-launched logos of the new team will be produced.
“We believe the focus in the market needs to be on the new logo for the next period of time,” said Scott Brown, director of commu-nications for the Jets.
True North purchased the logos from the NHL, which had owned them since the original Jets moved to Arizona to become the Phoenix Coyotes in 1996, for an undisclosed sum.
It is widely expected that the Jets will relaunch items featuring the old logo once the new one has been firmly established in the marketplace.
The old logos were extremely popular with Winnipeggers and other hockey fans after the original Jets left town and flew off the shelves for several months after True North announced in May that it had purchased the Atlanta Thrashers and was moving the team to Winnipeg.◆
– Compiled by Geoff Kirbyson
LIST1-800-661-6988
Top commercial realtors from across Western Canada market their list-ings through the Western Investor.
B26 www.westerninvestor.com DECEMBER 2011 WESTERN INVESTOR
national retailers but it’s got a grocery store, a coffee shop and a denturist and town officials are optimistic a physiotherapist, an optometrist and a small-animal veterinarian will follow in the short term.
It is, however, home to a McCains Foodspotato-processing plant, the biggest employer in town.
Zander said she’s also hopeful an upgrade will be forthcoming to Carberry’s recreation centre, which she added is “workable but old.” There’s also an outdoor pool, a bowling alley, a hockey rink and curling sheet in town and a short distance away is Spruce Woods Provincial Park.
Blair said Carberry has sent economic recruiting officials to communities around
he Town of Carberry might be small in size but it’s got a big growth problem. The southwestern
Manitoba community of about 1,550 is burst-ing at the seams, thanks primarily to strong housing demand from military families at the nearby base in Shilo and significant migra-tion from others parts of the province, and even from across the Atlantic Ocean.
“I don’t think the town has one lot left that’s big enough to build on. People don’t want a 50-foot lot; you can’t sell them. They want big-ger frontage,” said Wayne Blair, Carberry’s mayor.
Compounding the problem in Carberry, and countless other small towns, Blair said, is that it suffers from a lack of affordable housing, too.
The challenge, then, is to develop new sub-divisions as quickly as possible to keep poten-tial residents and even some current ones from seeking more spacious pastures in other com-munities.
One developer has sold out all 17 of the lots
he had available. That might not seem like much in some centres but in Carberry, that’s an unqualified boom. One house in the develop-ment has been completed and a family has just moved in, six more houses are going up and the rest of the lots are expected to see building activity shortly.
Tricia Zander, economic development officer for Carberry, located about an hour east of Brandon and about 90 minutes west of Winnipeg, described it as “a good family town with good schools and a couple of stores.”
It isn’t big enough to warrant attention from
SPOTLIGHT Military expansion, McCains plant put growth pressure on “bursting at the seams” Carberry
GEOFF KIRBYSON
WESTERN INVESTOR
the province, including Thompson, and thework has paid off. This year, 46 new people moved into town, including a number from Germany.
The influx is reverberating in the local realestate market. The average house in Carberry isan 1,100-square-foot, three-bedroom bungalowthat sells for about $160,000. That’s up 5 to10 per cent from a year ago, according to Les Watts, a realtor and partner in Royal LePageMcPhail Agencies.
He attributes much of the price apprecia-tion to demand from people in Shilo, locat-ed about 15 minutes down the highway.The pressure on the housing market should increase further in the short term when theSpirit Sands Casino opens up about 20kilometres to the south on Swan Lake First Nation land. Watts says between the gam-ing and a trio of restaurants, it’s expected toemploy between 200 and 300 people.
“Our housing prices are still lower thanBrandon,” he said. “That’s mainly due to the lot prices; our lot prices are considerably lower.”
The number of serviceable lots available, however, is almost non-existent. “It would be tough to have anything available for at least a year. If you really want to build, you have to buy something older and tear it down,” hesaid.◆
Carberry trying to find homes for newcom-ers.
Phot
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Population 1,550Average house price $160,000Major employers Canadian Military; McCains FoodsPotential Military expansion, residential development
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JANUARYAD DEADLINE DECEMBER 8
REPORT: ICI Outlook 2012Office markets
Investing 101: Finding property Franchise News Lifestyle Properties
REGIONAL ROUNDUPS BC: North Vancouver
AB: Painted EarthMB: WinnipegSPOTLIGHT: Yorkton, SK
FEBRUARYAD DEADLINE JANUARY 16
REPORT: Retail MarketsMall renovations
Investor tax strategies Franchise News Lifestyle Properties
REGIONAL ROUNDUPS BC: Kamloops
AB: CalgarySK: ReginaSPOTLIGHT: Dauphin, MB
FRANCHISEOPPORTUNITY
from
from
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604-857-1211
WESTERN INVESTOR DECEMBER 2011 www.westerninvestor.com Franchises B27
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Games2U makes Canadian play
U.S.-based mobile enter-
tainment provider Games2U, Inc. has expanded into Canada. The mobile entertainment franchise brings interactive games to events such as birthday parties or
fundraisers. At the November Vancouver Franchise Show, and undoubtedly with the help of its giant hamster ball and Booger Wars displays, the Games2U team seemed highly optimistic about opening franchises in the Lower Mainland in early 2012.
A typical Games2U event setup includes a custom-designed equipment truck and a video game theatre with multiple 50-inch flat screens featuring Wii, Xbox, and PlayStation for up to 24 people to play simultaneously. There are also giant hamster balls that hold a passengers inside and other interactive games and toys.
The company’s expansion north is a result of “consumer demand and a tremendous num-ber of requests from entrepreneurs to join the Games2U family,” said Games2U CEO and co-founder Stu Pikoff. “As the number 1 com-pany in our space, with over 25,000 events every year in the United States, we’re excited to bring our unique brand of fun and games to our neighbours up north.”
Founded in 2007, Games2U currently has over 146 franchise territories operating in the United States and Puerto Rico. Each franchise creates custom-made events featuring pat-ented video games, equipment and entertain-ment.
News, views and updates on Canada’s franchise industryTwo-time most valuable
player basketball star Steve Nash has scored a franchise hat trick outside of his on-court perfor-mance with the Phoenix Suns.
Nash, a partner in Liquid Nutrition Group Inc. (LNG), reports that the beverage and snack fran-chise has sold out all 20 of its B.C. franchises. The stores are expected to open soon in major cities across the province including Vancouver, Kelowna, Whistler and Victoria.
Another 10 stores are expected to open in Metropolitan Toronto this year with plans to expand to 35 markets across Canada, including Ottawa and Oakville, Ontario; Atlantic Canada; and Montreal. Expansion into Calgary is also possible.
Nash also helped to successfully launch LNG onto the Toronto Stock Exchange in September and scored his third win by blending Liquid Nitrogen into his chain of Steve Nash Sports Clubs.
“As a native of B.C., I am proud to announce that we are bringing Liquid Nutrition stores to our great province,” said Nash. “I don’t always have time to fix a gourmet meal at home, so with Liquid Nutrition, I can get all the nutrients my body needs in a cup. “ He added in a smooth pitch reminiscent of his passing plays: “Perfect for my lifestyle ... perfect for any lifestyle.”
Glen Young, LNG president, said the company has started tapping into major markets in Canada, U.S. and around the globe.
“The interest has been extremely positive to date. People believe in our vision and our products and, simply put, they want to get involved. We received franchise requests from interested parties in as far away as the Middle East and Asia,” he said.
Steve Nash Sports Clubs will be the first to offer a countertop Liquid Nutrition kiosk, with construction to commence early in December in Nash’s hometown of Vancouver. Liquid Nutrition and FWG Acquisition, part of the New Evolution Fitness Co., have agreed to the trial opening.
Franchising Corp. is currently the franchisor of six Liquid Nutrition Group stores in Montreal, with franchise commitments and expansion opportunities throughout Canada and the United States, as well as licence opportunities internationally.
No information on Liquid Nitrogen total franchise costs, initial franchise fees or any advertising and royalty fees were made available, despite Western Investor requests to the marketing department of Liquid Nitrogen.
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NBA star Steve Nash (centre) opens Liquid Nutrition trad-ing on the Toronto Stock Exchange.
A Games2U franchise requires a total investment of from $90,000 to $225,000, including an initial franchise fee of $35,000.
Spicy Pickle picks Calgary Denver-based fast-casual franchising
company Spicy Pickle has announced today that it is expanding its brand to Canada. The company stated that it has entered into a franchise agreement for the development of the first Canadian Spicy Pickle restaurant in Calgary. The restaurant is expected to open in the summer of 2012, representing the beginning of the brand’s expansion plans across the country.
Jeff Branton, vice-president and general manager for the company’s Canadian opera-tions, including its BG Urban(SM) cafés and grills, said, “Given Canada’s strong economy, and in Calgary in particular, this is a great market in which to launch Spicy Pickle in Canada, and it will complement our BG Urban brand operations nicely. Being that we are a Canadian company with our BG Urban cafés and grills already in British Columbia, we have the infrastructure to support and grow both our brands here, so adding Spicy Pickle was a natural move.”
The company, which operates its sepa-rate BG Urban restaurant brand in Western Canada, already has 12 BG Urban cafés and grills in and around Vancouver,
Ian Boyd, the Calgary franchisee for Spicy Pickle, said, “I expect the brand to be huge here, and I’m just excited to be the one to introduce it to Canada. I have no doubt that the people of Calgary are going to fall in love with Spicy Pickle.” Branton, who has worked closely with Boyd through his application process, said they are presently pursuing a site for the new restaurant and hope to
Games2U rolls into Canada.
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announce its Calgary location soon.A Spicy Pickle franchise requires a total
investment of approximately $272,555 to $515,700, depending on the size and loca-
tion. There is an initial franchise fee of from $15,000 to $30,000. Typically, a Spicy Pickle restaurant is around 2,000 square feet.◆
– Compiled by Kevan O’Brien
B28 www.westerninvestor.com DECEMBER 2011 WESTERN INVESTOR