western investor january 2011 section a

14 ICI OUTLOOK: YEAR OF DEALSVancouver ranked as top market for 2011 Colliers vice-president Avtar Bains: outlook solid for both downtown office landlords and multi-family investors

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$4.29 JANUARY 2011 Vol . 26 / Issue 1VANCOUVER • LOWER MAINLAND • VANCOUVER ISLAND SECTION

9 BOLD VISIONSHAPING B.C.’SSECOND CITY Surrey mayor leads suburban behemoth tobig-city boasting rights

25 MOTELS FACE WAKEUP CALLSLow occupancies mean lenders calling the shots

Build on the Power of Our Network. Over 325 Offices Worldwide.

Commercial Real Estate Services, Worldwide.

www.naicommercial.ca

MERRITT, BC OPPORTUNITIES

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

MINI STORAGE ON 1 ACRE PARCEL

$1.475 Mil

JUST LISTED – HOT PRICE

Asking $749,000

SPLIT ZONING

Asking $2.95 Mil

LANDSCAPE SUPPLY BUSINESS – NEW PRICE

Asking $139,000

INVESTMENT BUILDING - FULLY LEASED

$749,000

3 LIGHT INDUSTRIAL LOTSAmazing price $59,900 ea.

+/- 300 ACRES

$5.9 Mil

967 ACRES

Priced at $8.0 Mil ($8,275/acre)

NEW PRICE 11.4 ACRES DEV. LAND ADJACENT TO WAL-MART

$3.25 Mil

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

$2,500,000.00

INVESTMENT PROPERTIES FOR SALE LANGLEY AREA

$1,250,000.00

RARE OPPORTUNITY BUSINESS WITH PROPERTY

$1,050,000.00

RETAIL FREE STANDING BLDG.INDUSTRIAL FREE STANDING BLDG.

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

PROVEN RESULTS

105 Units

SOLD $16,150,000

41 Units

SOLD $4,500,000

79 UNITS

SOLD $12,250,000

NAI Commercial

Terry Harding [email protected]

tel: 604 691 6615

Jackson [email protected]

tel: 604 691 6680

www.naiapartments.ca

Boardwalk Equities,

a three-complex portfolio in

Burnaby and Coquitlam for

$32,900,000

Multi-Family Investment

PUBLICATIONS MAIL AGREEMENT 40069240

RETURN UNDELIVERABLE CANADIAN ADDRESSES TO CIRCULATION DEPARTMENT:

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

R E C R E A T I O N A L R E A L E S T A T ER E CR E CE C R E AR E AR E A T I OT I OI N A LN A LN A L R ER ER E A LA LA LA L E S TE S TE S T A T EA T EA T EA T EHOT PROPERTIESSPECIAL SECTION • B14

washington dream estate40 acres +/-; large wildlife pond with bass; water rights; property

could be suitable for berries, vineyard; great building site; 15 minutes from Truck Xing at Blaine, 5 minutes from

Aldergrove crossing; finder’s fee for realtors; 599K U.S. funds; more info www.copaccenter.com

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

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, it is not guaranteed by Cushman & Wakefield. Kevin Meikle is licensed with K.H.M.Realty Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. Bart Corbett is licensed with BG Corbett Realty Advisors Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. Sean Ungemach is licensed with SBU Realty Advisors Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. Martin Delafontaine is licensed with Martin Delafontaine Realty Inc. and has a contractual relationship with Cushman & Wakefield Ltd. Craig Haziza is licensed with CAH Realty Inc. and has a contractual relationship with Cushman & Wakefield Ltd.

FREE STANDING MEDICAL BUILDING, MAPLE RIDGE

acre lot

Highway

CRAIG BALLANTYNE / ANDREW LAURIE

239 – 241 E. 1ST AVE

BRAD NEWMAN-BENNETT/ DAVID POTTINGER

FOR SALE - $1,065,000

home

RON EMERSON

TRIPLE AAA TENANTS – INVESTMENT OPPORTUNITY

DAG MEYER

FOR SALE - LIGHT INDUSTRIAL WAREHOUSE

LEE HESTERPERSONAL REAL ESTATE CORP.

REBUILT APARTMENT BLGD, MERRITT BC

balconies

DAG MEYER

MERRITT JUNCTION

ERIC WALKER

FOR SALE - 1.85 ACRE DEVELOPMENT SITE

GREG MILES

HIGH VISIBILITY INVESTMENT OPPORTUNITY

RICK EASTMANPERSONAL REAL ESTATE CORP.

BILL RANDALLPERSONAL REAL ESTATE CORP.

MARK GALLAGHER LEAH COLLINGS

OKANAGAN LAKE FRONT DEVELOPMENT SITE

SINGLE-TENANT INVESTMENT

ERIC WALKER

COURT ORDER SALE

ERIC WALKER

917 DENMAN STREET, VANCOUVER, BC

ALASTAIR FERGUSSON

FOR SALE

scenery of Whistler, Blackcomb and Green Lake


GROCERY ANCHORED SHOPPING CENTRE

CRAIG HAZIZA/ADAM FRIZZELL

HIGHWAY EXPOSURE


Lease

MARK GALLAGHERHUDGE PARMAR

PERSONAL REAL ESTATE CORP.

COURT ORDERED SALE

FOR SALE - 2.7 ACRES OF INDUSTRIAL LAND

*SEAN UNGEMACHMICHAEL THOMPSON


FOR SALE: BRAND NEW STRATA BUILDING

Spring Island

and pool building

BILL RANDALL / DON DUNCAN / CHRIS DRIVER /


BRETT AURA

FOR SALE - SALT SPRING ISLAND RESORT


94,040 SF INDUSTRIAL BUILDINGS ON 10.28 ACRES

INVESTMENT PROPERTY & BUSINESS OPPORTUNITY

*SEAN UNGEMACH KYLE WILSON

renovated

DON DUNCAN / CHRIS DRIVER /PERSONAL REAL ESTATE CORP.

BRETT AURA

28 SUITE APARTMENT BUILDING, LANGLEY

PRIME OKANAGAN DEVELOPMENT OPPORTUNITY

the area


SINGLE-TENANT INVESTMENT

ROBERT HUMPHREYSBILL HOBBS

FOR SALE – INVESTMENT


GREG MILESBILL RANDALL


FOR SUBLEASE303 VERNON DRIVE

BRETT AURA CRAIG BALLANTYNE

MAPLE RIDGE DEVELOPMENT SITE

DAVID POTTINGER

PENTICTON APARTMENT BUILDING FOR SALE

RICK EASTMANPERSONAL REAL ESTATE CORP.

RARE FREESTANDING 5 UNIT INDUSTRIAL BUILDING

Area

building

WILLIAM N. HOBBSPERSONAL REAL ESTATE CORP.

FOR SALE - 5.8 TO 10+ ACRE RAIL SERVICED SITE

ERIC WALKERJENNIFER ROBERTSON


SILVER CHALICE PUBHOPE, BCJAMESON HOUSE OFFICES

DON DUNCAN / CHRIS DRIVER / PERSONAL REAL ESTATE CORP.

BRETT AURA

FOR SALE - 15 LEGAL SUITE S. GRANVILLE APARTMENT

FOR SALE 10.65 ACRES

views

Mission, BC


HUDGE PARMARPERSONAL REAL ESTATE CORP.

DAVID CANNINGBILL RANDALL


FOR SALE - HIGH EXPOSURE CLOVERDALE PROPERTY

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

MEAT PROCESSING PLANT LYNDEN, WASHINGTON $1,390,000

USDA approved meat processing plant available. Busy 5-1/2 day schedule. Property includes a 5 bedroom, 1.5 bath home built in 1923 and has been completely updated to a beautiful setting that shows pride in ownership.

BIRCH BAY 39.40 ACRES $950,000Two parcels: 19.7 acres each. One parcel permits a 45 lot residential subdivision.

All permits approved and ready to start infrastructure. 2nd parcel of 19.7 acres is a 6 unit apartment site. Adjacent 20.27 acres is available for $550,000 for a 76 lot residential subdivision.

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

CALL Don MunroSUTTON GROUP

WEST COAST REALTY

604-817-7338 fax [email protected]

ACREAGES COMMERCIAL / INDUSTRIALSURREY18148 92nd Avenue

SURREY188th Street & 80th Ave

LANGLEY 48th Avenue & 216th St

LANGLEY27449 60th Avenue

LANGLEY 24421 Fraser Highway

LANGLEY

27691 Downes Road

LANGLEY889 Lefeuvre Road

LANGLEY20552 24th Avenue

LANGLEY 27571 60th Avenue

CHILLIWACK51140 Ruddock Road

CHILLWACK700 Columbia Valley Road

SURREY11151 Bolivar Street & 13340 112 Avenue

LANGLEY27031 Fraser Highway

SURREY

19518 32nd Avenue

MAPLE RIDGE21163 Lougheed Highway

AGASSIZ6958 Pioneer Avenue

CHILLIWACKFOR LEASE 44580 Yale Road

CHILLIWACKVictoria Street

CHILLIWACK7730 Old Orchard Road

CHILLIWACK45860 Cheam Avenue & 9070 Birch Street

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

FEATURES14 2011 seen as year of the deals - with advantage to buyers

9 Visionary mayor, vibrant downtown attracting investors

Download a PDF of all our Regional Roundups online at www.westerninvestor.com

21 Experts say swapping for property makes sense today

25 A glut of listings, lack of buyers and hard-nosed lenders

COLUMNS6

On the coverAvtar Bains, executive vice-president of Colliers International, is bullish on the outlook for 2011.Photo: Richard Lam

2–21

8 20

23–27

HOT PROPERTIES


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

• FEATURE: Port Moody Apartment building, as new, 32 huge suites (22 x 2bed, 6 x 1bed and 3 x 3bed) $360,000 net, price $6,550,000

• Port Moody, Retail, land & bldgs. 6% cap. 10 yr lease; $2,500,000

• Squamish Hotel: 25 rooms + guest suite, pub, night club, café & retail. Upgraded. Makes money! $2,588,000 + terms with $550,000 down!

• Island, Waterfront Hotel and Marina + Condo Opportunity

• Nanaimo, Waterfront Hotel, Marina plus condo Site, $6,000,000.

• Richmond, Site: Condo development + Hotel turnkey. $8,000,000

• Vancouver, Site: Great Sky-train location. $28,000,000/terms

• Squamish, condo Sites: 31 units, downtown. $1,550,000/terms

• N. Vancouver, Apartment buildings: Central Lonsdale area.20 Suites, $3,650,000 - 11 huge suites (2 & 3 bedroom) $2,250,000

• North Vancouver, 19 unit Rooming house = Cash fl ow. $1,400,000

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

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

www.UNIQUEPROPERTIES.ca

UNIQUE PROPERTIES

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

Dexter Associates Realty Commercial Real Estate, Your Trusted Advisors:

Larry Traverence, Sandi Fratino Call 604-689-8226 for results

81,260 sq. ft. R&D BUILDING AT UBC

3800 Wesbrook Mall provides an excellent environment that will support and enhance the intellectual and social development goals of companies involved in R&D. Laboratories, offi ces, teaching, training, and conference facilities, in support of research and development in a number of key areas.

CALL LARRY AT 604-689-8226

CATERING BUSINESS & COMMISSARY KITCHEN

The building may be leased or purchasedThis custom built kitchen offers about 3,000 sq ft and can accommodate 20 – 24 guests/students around the central station. There is a small retail café of about 400 sq ft plus a 1,600 ft 2nd fl r fully equipped offi ce space, part of which has a view of the kitchen below and is ideal for schools and training. This turnkey operation will appeal to chefs, caterers, schools and restaurateurs wanting to expand or grow their business. Call LARRY

FOR SALE

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

Tel: (604) 684-7117 www.dtzvancouver.com

For more information on these and other opportunitiesplease contact our offi ce or visit our new website

Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent verifi cation. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 01/2011.

INDUSTRIAL SALE/LEASE

6010 Trapp RoadBurnaby

Redevelopment opportunity

Steve Caldwell, Chris McIntyre

INDUSTRIAL SALE

125 Glacier StreetCoquitlam

2 units: 15,000 + 16,115 sq ft on 1.34 acres Owner/user opportunity with potential

Chris McIntyre, Steve Caldwell

INDUSTRIAL SALE

5371 Regent StreetBurnaby

41,000 sq ft warehouse/manufacturing

Steve Caldwell

INDUSTRIAL SALE

2130 Hartley AvenueCoquitlam

Steve Caldwell

INDUSTRIAL/OFFICE SALE/LEASE

375 Lynn AvenueNorth Vancouver

3,600–11,000 sq ft STRATA units available

Rand Thomson

DEVELOPMENT FOR SALE

44 West 4th AvenueVancouver

Opportunity with holding income

Stephen Webber

DEVELOPMENT SITE FOR SALE

16144 - 84th AvenueSurrey

Asking price $3,995,000.00

Tony Capolongo, Stephen Webber

DEVELOPMENT SITE FOR SALE

2420 & 2450 Ticehurst Lane and2455 Gately Avenue, Port Coquitlam

40,091 sq ft site total

James Bayley, Chris McIntyre

STRATA OFFICE SALE/LEASE

3410 Lougheed HighwayVancouver

Adjacent to Rupert SkyTrain station

Don Mussenden, Anthony Lux

STRATA RETAIL SALE/LEASE

1777-1799 KingswayVancouver

Three units available from 878–3,005 sq ftosure corner location

From $350.00 per sq ft

Conor Finucane

604.263.2823

APARTMENT BUILDING SPECIALIST

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

75 Unit Apartment BuildingClose to Skaha Lake, Central location

Gross Income $547,222

PENTICTON

9 Unit Apartment BuildingNear schools, shops, community centre


WEST SIDEWEST END

51 Units – 2 BuildingsGross Income $637,158

Walk to Beach

17 Units – 2 PenthousesView suites, near college, parks

Cap Rate 5.05%

28 Units - Well MaintainedCentral Location


NEW WESTMINSTER LANGLEYCLOVERDALE

36 Unit Apartment BuildingSpacious and Clean


OCEAN FRONT • KIHEI, MAUI75 foot empty lot, gorgeous sandy beach, beautiful mature palms. Great for 2 high end townhomes (or executive home) of 1650 s.f. each. Have drawings, less expensive than Canadian lakefront with year round perfect weather. Was $3.6M. Now only $1.995M. (Will build for $1.95M per townhouse). Additional 75 foot lot available next door for a total of 4 townhomes if needed. Sell 3 get one free!

MAUI, HAWAII4.3 acres development site zoned condo/hotel 1/2 block to ocean and beautiful beaches, great

ocean views, all amenities. Drawings available for 124 units (all 2 bedrooms). 50% - 100% of project available. Water and permits available, possible 34 timeshare units. Once sold for

$15.2M. Now only $5.8M Possible trades for revenue property.

Call Dennis Blain403-246-1697 • Email: [email protected]

Website: www.nokaoidev.com

Ph: 604-864-6400 T/F: 1-877-864-6424www.strataschoice.com email: [email protected]

1A 33820 South Fraser Way, Abbotsford, BC V2S 2C5

We give you our full attention at fair and competitive rates!

Property Management

Call Today For Your Management Proposal!!


VANCOUVER 1955 East Hastings - $1.199 million Freestanding Warehouse – Mixed Use 3000 sq ft Main Level plus 3000 sq ft Lower Level and 3000 sq ft upper storage. Parking, Loading Bays Lot 6100 sq ft – MC-2 Zoning - Residential/Commercial & Light Industrial VENDOR MOTIVATED! Great Opportunity CHILLIWACK Commercial Strip Mall - $1.7 million 4 Tenants – Net income $104,000 Solid building / Great Location

CHILLIWACK 5905 Vedder Rd. $789,000(Sardis) 6-Plex – 2 bedroom units, gas fireplaces Great location! Won’t Last!

CHILLIWACK 46240 Yale Rd. 3 NEW 1000 sq ft Units $199,000 each Perfect for YOUR Business WHY RENT? Call now.

CHILLIWACK Laundromat – Business Only $200,000 Turn Key – Owner Operated Nets approx $80,000 per year Financials Available

CHILLIWACK 160 Seat Restaurant - $289,000 Assets Only – Going concern Equipment List available Great location. Shadowed by Safeway

WE NEED PROPERTIES NOW!!!!!!DESPERATELY NEEDED: COMMERCIAL/RETAIL

SHOPPING CENTRES

We have SERIOUS BUYERS Looking for Investment Property

1 BUYER $2-4 Million2 BUYERS $5-20 Million

Matching Serious Sellers with Serious Buyers

LINDSEY GAUTHIERCell: 1.604.798.2977

Office: [email protected]

Showcase Realty

SURREY• Large indoor playground • Bumper cars • Ballocity

• Laser tag • Rock climbing walls!

• Large party room• Semi-kitchen & food concession

Asking $499,000

Call VICTOR or LISA 604-328-8055

Realtors Welcome

FUN CENTREFamily

Famous International PAPA JOHN’S PIZZA business at core Downtown in Port Coquitlam. Good income & steady clientele. Business can be increased as surrounding the store has been growing with huge new condominium com-plexes. Easy to run business as full training and support by head office. Good location & ample parking space.

Sutton West Coast RealtyWILLIAM LEE 604.671.2404 [email protected]

$199,000

FRANCHISE OPPORTUNITY

Publisher Cheryl Carter Editor Frank O’Brien Con-

tributing Writers Susan M. Boyce, Wayne Edgar, Curt Cherewayko, Dave Husdal, Geoff Kirbyson, Glen Korstrom, Peter Mitham, Kevan O’Brien, Joe Ralko, Copy Editor Noa Glouberman Production Manager Rob Benac Production Natalie Reynolds, David Tong, Tanya Van Advertising Sales Manager Christine Campbell Advertising Sales Paul Douglas, Gary Takahashi Office Assistant Angela Foster Accounts Receivable Yvonne Posch Circulation Vera Irani, Newsstands Globe Distribution Services Printed in Canada at Kodiak. Western Investor is published monthly by BIV Media Limited Partnership VANCOUVER – HEAD OFFICE: 102 East 4th Avenue, Vancouver, B.C. V5T 1G2 Subscriptions and Advertising Sales Tel: 604-669-8500 Fax: 604-669-2154 Canada/U.S. toll-free: 1-800-661-6988 Alberta, Saskatchewan & Manitoba Advertising Sales toll-free: 1-888-606-6267. Canadian publications mail product sales agreement #40069240, GST #105655567. Copyright 2002. While every effort is made to ensure the accuracy of articles and advertising that appear in each edition of Western Investor, the publisher may not be held responsible for any errors or omissions that may from time to time occur. No part of this publication may be quoted or reprinted in any medium without the express written permission of BIV Media Limited Partnership.

his is our annual ICI (indus-trial, commercial and institu-tional) outlook issue, and we must admit right off that we don’t agree with the “steady

as she goes ”, “hold the status quo” forecasts that we are hearing from many analysts.

We believe that 2011 is going to be a corker for commercial real estate right across Western Canada.

Why? Because oil is going to hit US$100 a barrel, copper and potash prices will continue soaring, the forestry industry will recover and agriculture prices – especially grain and beef – will set new record highs.

Add to that a decline in new commercial construction over the last two years and the stage is set for a stronger snap back in real estate demand than most expect.

Put bluntly, Western Canada is a hewer of commodities that the world demands and the real estate market thrives on.

The big boys, such as real estate invest-ment trusts and pension funds, are already deep into Western Canada’s commercial market, taking advantage of rock-bottom prices. We know of a 14-office commercial building with B.C. highway frontage for sale at $200,000. There is former auto dealer lot

acreage near Williams Lake that can be had for one-third of its assessed value. Industrial land prices in the Fraser Valley are at three-year lows and Calgary and Edmonton office space can be grabbed at 2006 prices.

Meanwhile lending rates are near his-toric lows and the Bank of Canada, fixated on struggling Ontario and Quebec, is in no mood to raise the prime rate, now at 1 per cent.

This year 40,000 immi-grants will arrive in B.C.; Alberta will need to fill 72,000 new jobs; and both Manitoba and Saskatchewan are already

attracting record numbers of immigrants and “returnees” to Canada’s fastest growing economies. The population shift westward will become undeniable this year.

Our advice: get into Western Canada’s commercial market early, think big and get busy because we have launched into a very happy new year.

In the December issue of Western Investor, we presented mistaken or outdated informa-tion regarding MPC Intelligence data. MPC is a leading analyst for Metro Vancouver’s new-home market.

We reported MPC stating: “10,000 con-

dos have started presales this quarter.” MPC actually said: Approximately 10,000 units had been released for presale from April 2010 to October 2010.

We reported MPC stating: “There is an estimated 206 newly completed and unsold strata homes in South Surrey, but only 81 new condos have sold there since the start of this year.” MPC says this information was out of date, “when really there has been an estimated 149 low-rise condominiums sold. Since the fall, a number of low-rise projects have discounted and absorption has increased.”

We apologize to MPC Intelligence for any misquotations or confusion.

Western Investor presents a report on mixed-use developments, now gaining traction across the West. We tour parking garages, look at takeback mortgage strategies and update suburban office markets. Our regional reporters file from Brandon, Fort McMurray, Sooke and Smithers. Plus we carry all the news and commentary needed by western investors.

FRANK O’BRIENEDITOR

[email protected]

ADVERTISING DEADLINE February 2011 issue:

January 10, 2010

THIS is your opportunity to partner with an accomplished team and proven midscale casual dining concept. Rockwell's has all the right ingredients for you to write your own success story.

We're looking for like minded franchises to join Rockwell's as we grow across BC, AB, SK & MB

SPORTS BAR COMPONENT

CONTACT US TODAY

[email protected]


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

FOR LEASE – 1550 E. Hastings St, Vancouver FOR LEASE – 990 Homer Street, Vancouver

FOR SALE – 1881 Sumas Way, Abbotsford

SUBLEASE - 88 West Broadway, Vancouver

LEASE – 1112 West Pender Street, Vancouver

FOR SALE – Dalton Hotel - 759 Yates Street, Victoria

PRICE

REDUCED

FOR SALE - 1915 Stainsbury, Vancouver

FOR SALE - 2342 Windsor Street, Abbotsford

FOR LEASE – 929 Granville Street, Vancouver

FOR LEASE – 320 Terminal Avenue, Vancouver, BC

FOR SUBLEASE – 2120 Hartley Avenue, Coquitlam

FOR SALE – 12294 104th Avenue, Surrey

FOR SALE – 7770 & 8398 North Fraser Way, Burnaby

$6,196,000 $17,604,000

FOR SALE – Retail Portfolio

FOR SALE – 144 & 174 176th Street, Surrey

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

FEATURED LISTING FEATURED LISTING

SOLD – Tiffany Gardens, 3326 Rock City Road, Nanaimo, BC FOR SALE – Royal Towers, 140 - 6th Street, New Westminster, BC

FOR SALE – 9771 186 Street, Surrey

LEASE – 12179 86th Street, Surrey

SOLD

FOR INQUIRIES – Gateway Business Park

FOR SALE – "My Garage" Secure Strata Storage, SE Richmond

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

Call BILL 604-461-9220 Mandate Group Realty Corp.

Professional Service building adj. to Cottonwood Mall fully leased for past 14+ years.

Asking price of $2,600,000. & offers triple net income of $165,427 or 6.4% cap rate.

Pre-arranged financing for 69% of value - OAC. Offers 10% return invested cash.

6 long term tenants on 1 acre site just off Freeway, Chilliwack, B.C.

Dysart Rd

McD

owel

l Rd

Bell Rd

75th Ave

Sun V

alle

y Pkw

y

I-10

411th Ave

For all your real estate financing needswww.peoplestrust.com

MORTGAGE FINANCING

Daniel Stewart 403-205-8202

PRAIRIEREGION

PRAIRIEREGION

Dennis K. Aitken 403-205-8203

BRITISH COLUMBIA REGION

BRITISH COLUMBIA REGION

Brian D. Kennedy 604-331-2211

Jonathan P. Wong 604-331-2218

COMMERCIALMORTGAGES

ALSO, Industrial, Multi-Residential & Construction

LEAKY CONDOFINANCING

Full Building Repairs, Upgrades & Remediation

BUSINESS LOANSAcquisitions, Expansion, Equipment & A/R

604-552-4392www.paramountfinancial.biz

Over 12 YEARS in business !

MORTGAGE FUNDS

We can arrange

for all your Commercial

or Industrial Needs

All inquiries to

[email protected] or

phone Bob Williams @ 604-533-8288

COMMERCIALMORTGAGES

FOR ALL TYPES OF COMMERCIAL PROPERTY:- Apartment buildings- Multi-Family & Mixed-Use- Retail/Strata Office/Warehouse- Hotel/Motel- Land acquisition/servicing- Construction/Development Loans

• Fast Approval • Purchase or Refinance

The Origin Group — Mike Lee604-565-6370

1-877-848-6370Email: [email protected]

WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com A9

JOHN JOHNSON

JOHN JOHNSONTel: 604-319-2504Fax: 604-463-5287

PRUDENTIAL STERLING REALTY LTD.

For Lower Mainland Pub Opportunities call:

SOUTH OKANAGAN PUB Liquor Store and Building

for sale Asking $1.9 M

NORTHERN BC PUB Land and Building opportunity

Offered at $950,000

LOWER MAINLAND Pub & Liquor Store

Opportunities

P U B SFor Sale

RAY LEWIS604-812-9733West Coast Realty Langley

BUILDERS

MOTELS

WANTED

REGIONAL ROUNDUP Mayor cements nucleus for B.C.’s second largest – and fastest growing – downtown

Please see Vision page A10

SUSAN M. BOYCE

WESTERN INVESTOR

ow officially designated as Metro Vancouver’s second downtown core, the Surrey Central City

neighbourhood continues attracting big-time attention from savvy investors, businesses and homebuyers. B.C.’s second largest and Canada’s 12th largest city, Surrey repre-sents a Cinderella story that’s unanimously acknowledged as the result of a proactive council headed by popular Mayor Dianne Watts.

“Developing a plan is easy, but Mayor Watts and her council create action – something that is much more difficult,” said Bill Rempel, who is the vice-president of the Surrey Business Improvement Association and also the vice-president of Central City. Like many others, he’s delighted by Watts’ decision to remain in Surrey rather than move to the provincial political arena.

The centrepiece of this evolving urban core will be a $500 million Civic Centre designed with iconic architecture and sustainable design practices. When complete, the project will include a much-needed 180,000-square-foot new city hall, a 1,600-seat performing arts centre plus studio theatre and a $36 million, 77,000-square-foot regional library.

Simon Fraser University (SFU) is poised for a 30,000-square-foot, $80 million expansion thanks, in part, to a $10 million federal grant from the Knowledge Infrastructure Program. On schedule for a May 2011 opening, the new space will include lab facilities, research space and offices. Jean Curry, executive director of SFU Surrey, is particularly excited by the grow-ing focus on cutting-edge research including engineering mechantronics – a combination of mechanical, electrical and computer sciences – saying the potential entrepreneurial spin-off opportunities of this research alone are huge.

SFU currently employs 200 full-time staff and faculty plus part-timers to support a student population of 6,000, approximately half of them full time.

On December 2, 2010, the new 34,000-square-foot Surrey RCMP Annex opened next to the Surrey RCMP’s main detachment. Still to come is an 82,000-square-foot division E headquarters that will consolidate services cur-rently scattered inefficiently across the Lower Mainland and replace the outdated, overcrowd-ed facility in Vancouver. The public-private partnership project between the federal gov-ernment and Green Timbers Accommodation Partners is the largest federal accommoda-tions project in the Pacific Region to date – for a fixed price of $966 million, Green Timbers

Accommodations Partners will design, build, finance and maintain the facility for a 25-year term after completion in December 2012. An anticipated 2,700 jobs will come to Surrey once the facility is open.

In October, Integrated Team Solutionsbecame the preferred proponent for a long overdue expansion to the Surrey Memorial Hospital (SMH). “This project will represent the single largest health capital investment in

B.C. history, dramatically improving patientcare in Surrey,” said then health services minis-ter Kevin Falcon in a prepared announcement.The expansion includes a new critical caretower with expanded emergency department,a new perinatal centre for high-risk newborns, a larger adult intensive care unit and, with theUniversity of British Columbia, an expanded clinical academic campus for Surrey.

Additionally, when open in 2011, the new$239 million, 188,000-square-foot outpatientcare and surgery centre, the first in B.C. tocombine day surgery and diagnostic procedures with specialized health clinics and programs in one building, will significantly reduce conges-tion and pressure at SMH.

Surrey’s average monthly growth remains consistent at 1,000 new residents each month – a number that’s spurring residential con-struction especially in the multi-family sector.In addition to a number of small-to-medium strata projects, three significant projects are invarious stages.

Arguably the most ambitious is Concord Pacific’s acquisition of the troubled Jung Development Inc. project located on Whalley Boulevard. Ultimately to be a five-tower mas-ter planned community of almost 3,000 homes,the project was renamed Park Place. A new focus on affordability, amenities (includingSurrey’s first on-site residential bowling lane) and intelligent floor plans paid off: investorsand first-time buyers responded. “Within fourweeks of opening our on-site presentation cen-tre, we’d sold 90 per cent of the first tower, and a huge number of people had already registeredfor Two Park Place,” said marketing manager Peter Udzenija.

“Concord is a very astute developer,”Rempel noted. “There are probably plenty ofpeople who now wish they’d bought the oldExpo lands, but the reality is that only Concordhad the vision. When a developer of this statureand experience gets on board, you know it’s going to drive growth.”

TOP Surrey’s Central City shopping mall: Skytrain links helped create the second

largest downtown core in B.C. RIGHT Mayor Dianne Watts and developer Charon Sethi:

close co-operation between the city, senior government and the private sector is

transforming Surrey’s central core.

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Call for your free 3 month trial subscription of Western Canada’s Commercial Real Estate & Business

Opportunities publication ...The Western Investor.

media kit on-line: www.westerninvestor.net

1-800-661-6988For information on subscriptions and advertising


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

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

LIQUOR STORES, PUBS, HOTELS/MOTELS

HOMELIFE BENCHMARK TITUS REALTY

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

MANY NEIGHBORHOOD PUBS IN ALL PRICE RANGES NOW AVAILABLE.

FRASER VALLEY – 200 seat Pub/Restaurant – better than new – sits on 1.35 acres. A must see ! $2,600,000 ASSET SALE. Offered less than replacement cost.

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

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

MAPLE RIDGE PUB & LIQUOR STORE $4 MILLION NETS OVER $700,000. WILL SELL SEPARATELY.

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

CHILLIWACK – PUB & LIQUOR STORE & RESTAURANT excellent money maker $2,500,000 Great lease. SELLER MOTIVATED! TRY YOUR OFFER!

SURREY PUB & LIQUOR STORE – Money maker. $2,100,000. LEASE PREMISE. SHARE SALE.

QUEENSBOROUGH DEVELOPMENT PROPERTY – Many options – cleared land, approx 34,000 sq ft – zoned commercial/residential. 3 PROPERTIES - OFFERS! UNDER $50.00 PER SQ FT.

BURNABY PUB & LIQUOR STORE – Land & Bldgs. - Future Development Potential $6,900,000

SURREY PUB IN BUSY SHOPPING CENTRE - Asking $600,000 GREAT TERMS.

Toll Free: 1-888-251-2822 Direct: 604-302-3771 Fax: 1-888-804-1394 Email: [email protected]

www.mobileparks.comHomelife Glenayre Realty

Lac La Biche, AB – 58 pads, 157acres ..... 3,000,000

Brooks, AB – 28 pads, 16.75 acres .......... 1,100,000

Cherryville, BC – 25 pads, 22 acres .............. 750,000

Langenburg, SK – 60 pads, 14 acres ............ 525,000

Houston, BC - MH & RV Park, 40 ac+/- ....... 399,000

INVESTOR ALERTGreat investment 19.75 Acres is Zoned for 1 acre, new Sewer Line is only a couple blocks away, poten-tial income 10,000 SF warehouse with 3 cooler and 5 BDRM older house only $3,999,000.00.

31 Acres approximately 15 year old Blueberry farm with 8 bed room house last year berry was around 250,000.00 asking $3,500,000.00

34 Acres for blueberry or raspberry close to 264 St border in USA. $375K

Great income 16.44 acres blueberry farm with new 7200 SF house, 5 BR and 1 kitch + 1 spice kitch each fl oor, setup for 2 family plus 2nd house have potential income only $2,700,000.00

AMARJIT GILL

604-614-7101 Global Force Realty

ALEX YUEN 604-338-1800alex@macrealty .comMacdonald Realty Ltd.

FOR SUB-RELEASENORTH VANCOUVER 1503 SF OFFICE SPACE.

Reduced to $8 NNN $10 per SF 3 yr term.

I-2 INDUSTRIAL PROPERTY RICHMOND

Next to Knight Street Bridge3.796 Acres w 60,000SF BUILDING

$5,500,000

FOR SALE

from A9

Once again making news, in September the Tein Sher Group of Companies acquired an additional two acres for its Quattro project in the Central Surrey area, bringing the total acre-age to 12 and making this one of the largest multi-family communities in Metro Vancouver. Four years ago the project made headlines when it sold 116 suites in 67 minutes on open-ing day.

When an arsonist’s fire destroyed the under-construction Quattro2 and damaged the almost complete Quattro1 in 2008, principal Charan Sethi rebuilt not only the two buildings but consumers’ good will, returning all down pay-ments with interest. The project relaunched in spring 2010, and the third tower commenced sales in September 2010. More than half the homes here are priced under $200,000 – some as low as $150,000 – once again making this an attractive option for investors and first-time buyers. Sethi anticipates total build-out value of the Quattro neighbourhood will approach $750 million.

After construction stalled in 2007, Weststone Properties’ Urban Village is now quietly sell-ing Ultra, its third tower, with virtually no mar-keting. “We’ve sold close to $5 million worth of homes here in the last six months – 150 of the 373 total units,” said Bob Dominick, vice-president of sales and marketing. “We have now met the level of sales required for our pre-construction financing. The site is closed

Population 400,000 Central average detached house price $506,000Central average condominium price $220,000Under construction $500 million Civic Centre; SFU expansion; new RCMP head-quarters

while we arrange financing and obtain a build-ing permit, and we anticipate breaking ground early in 2011.” Future plans for Urban Village include two more phases of low- and high-rise residences, townhouses, as well as, ideally, a neighbourhood commercial component with convenience store and services. When com-plete, he anticipates the project will bring between 2,500 and 3,000 homes to the area at an investment of close to $1 billion.

However, Watts stresses it’s not business alone that makes a city strong. “It is essential for us to support the quality of life for the families who live here,” she said, noting one-third of Surrey’s current population is below the age of 25. In addition to more than 400 parks, the city boasts more artificial turf playing fields than any other municipality in the province. The recently completed Chuck Bailey Recreation Centre, initially a Games Preparation Centre for the 2010 Winter Olympic Games, has now been adapted as a public 20,000-square-foot recreational centre featuring a gymnasium, youth lounge, preschool area and multi-pur-pose space.

One particularly innovative example of her commitment to family is the recently approved covered youth park – the only one of its kind in B.C. To be located adjacent to the Chuck Bailey Recreation Centre, it includes a skate park, ball-hockey court, pathways and rain gardens.

“We are committed to creating new oppor-

tunities for our youth to participate in healthyactivities,” Watts said.

Other Surrey firsts include a $25,000 Cityof Surrey Fire Research Endowment, the first scholarship fund in B.C. specifically support-ing public safety research and the opening of Surrey’s second hydrogen fuelling station at the operations works yard, making this the only Canadian city with hydrogen fuelling.◆

SURREY

New Westminster

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www.homelifebc.comwww.homelifebc.com

Attention

Agents:Homelife

TO ADVERTISE HERE

call Gary Takahashitoll-free: 1-800-661-6988direct: (604) 608-5111 or fax: (604) 669-2154

[email protected]

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WESTERN INVESTOR JANUARY 2011 Lower Mainland/Business Opportunities A11

OWNERSHIP OPPORTUNITY – BUILDING SUPPLY STORE IN BC –

Own your own IRLY Building Centre dealership. We are seeking entrepreneurs to be part of BC’s largest building materials and hardware chain. We offer advertising, computer & merchandising support. New and existing locations. Partnership opportunities available. Dealer - owned co-op. Receive rebates & patronage dividends.

Contact Brad Dixon or Susan Robinson @ 1-800-663-3342 www.irlybird.com

Criteria: > established min 5 years with at

least 2 yrs profitable

> up to 80 km from White Rock

> manufacturing or marine

> no restaurants or retail

> sales 5 to 250 MM

White Rock businessman

604-838-0985

FUNDING AVAILABLE

FOR SALE • 201 – 217 W 6th Ave., Vancouver | Corner property, Main/Cambie Corridor;

18,989 Sq. Ft., 2 storey building; 14,719 Sq. Ft. site; I – 1 Zoned; ideal for investor or owner occupier.

FOR LEASE• Prime Kerrisdale retail space on 2100 block, West 41st Ave. | 5,395 Sq. Ft.

Eric Poon | 604.714.4768 | www.EricPoonCommercial.com

n/Cambie Corridor;SOLDed; ideal for investor

APARTMENT BUILDINGS & DEVELOPMENT SITES FOR SALE

VIEW ALL LISTINGS AT www.GOODMANREPORT.com

• 22 units Mt. Pleasant, beautiful building (New Listing)

• Prime 1 Acre Waterfront, Harrison Hot Springs (Condo Development Site)• Prime 1 Acre across from Skytrain, North Surrey (Development Site)

• 11 units Mount Pleasant (5 - 1-bedroom; 6 - 2-bedroom) | Asking $2,095,000UNDER CONTRACT

• 16 Units, Port Alberni, Reduced to $1,797,000 (6.3% Cap)

RECENT SOLD

• 19 Units, Metrotown For complete information packages including pictures & financials, view online:

www.GOODMANREPORT.com

David/Mark Goodman | 604.736.5611 | [email protected]

BUSINESSES / PROPERTY FOR SALE

WORLD CLASS RESTAURANT located on the beach in White Rock, BC, featuring West coast cuisine, top line new equipment in the perfectly designed kitchen, stunning interior with sweeping ocean view. Totally turnkey operation. A must see for the professional restaurateur. $599K

BOTIQUE WINERY located in prestigious South Surrey BC on 14 acres, fully irrigated pastoral farm land along side of the winding Serpentine River. Grape varieties planted in 1992, includes retail sales bldg and production bldgs. Asking Price $2.9M (REDUCED)

BOARDING KENNELS for dogs and cats, established in 1970. Excellent reputa-tion, profitable, very clean and well managed kennels. Price includes 5 manicured acres of land in Surrey BC. 2000 s.f. house, and office, rooms for 51 dogs and 19 cats. Asking Price $1.5M

HOTEL GIFT STORE CHAIN 5 units, specializing in distinctive quality Canadian gifts, collections and carvings which are the finest in Canada. Very profitable, and well established for many years located in prestigious major hotels in B.C. Price of $749K includes $500K inventory

DON CHERRY’S BAR & GRILL property and business, completely remodelled 2010, near new kitchen equipment, strong sales history, located in high development area of Maple Ridge BC, dining 100 seats plus 60 in bar and 28 patio seats. Asking for property and business $1.5M

SURE SLIM FRANCHISE B.C. International franchised wellness clinic specialis-ing in controlled weight loss and healthy style living. Located in Langley B.C. Well established profitable business with great potential for further growth for the new owner, Full training provided. Asking $179K

Wayne Hampton | [email protected] or Dennis Germyn | [email protected] | www.investmentcanada.biz

Brian Tattrie | 604.714.4783 | [email protected] | www.BrianTattrie.com

• Harrison Hot Springs / Harrison Lake• 138 Ft. of frontage / 26,310 Sq. Ft. site

• Opportunity to build 4 storey / 25 units• Asking $2,580,000

FOR SALE – WATERFRONT DEVELOPMENT SITE

FOR SALE – 107 UNIT SRO/3 LIQUOR LICENSES/CORNER LOCATION • Call for details / UNDER CONTRACT

FOR SALE – KAMLOOPS/67 ROOM FULL SERVICE BOUTIQUE HOTEL • Call for details

FOR SALE – STRATA RETAIL OPPORTUNITY/FULLY TENANTED555 North Road, Coquitlam BC• 4 commercial strata lots • 24 parking stalls• Across from Lougheed Town Centre

• Currently 100% leased to six tenants• Available either Individual or Bulk sale

Vancouver 604.736.5611 | Fraser Valley 604.590.2444 | www.macdonaldcommercial.com

Macdonald Commercial R.E.S. Ltd

LAND DEVELOPMENT

Condo Site $2.3M

NEW !! Gloucester Estates, 1.6 acres - $1.45M

SOLD

SOLD

Thinking of selling your Business?? Give me a call. I’ll be happy to sit down with you and evaluate your Business.

GLENNYAMADA

CELL: 604-240-2749 EMAIL: [email protected]

Personal Real Estate Corporation

COMMERCIAL AND RESIDENTIAL REAL ESTATE SINCE 1989

Coronation West Realty

NEW !! 3,000 SF 2nd floor space

FOR LEASE

BUSINESSES, LAND & BUILDING

Waste Disposal Business $4 Mil.

Pub, Land and Building $2.7 Mil.NEW!! Greek Mediterranean Restaurant $450K

NEW!! MEAT AND DELI SHOP $229K

NEW!! MEAT AND DELI SHOP $59K

NEW!! CARIBBEAN PIZZA & RESTAURANT $59,900

NEW !! HAIR AND BODY SPA $42K

SOLD

SOLD

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

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

UNIQUE FRANCHISING OPPORTUNITIES In Western Canada

C O M M E R C I A L

BALJIT KOCHHAR PERSONAL REAL ESTATE CORPORATIONDIRECT: 604-725-4406 604-572-1008COMMERCIAL SPECIALISTwww.planetgrouprealty.com

SHOPPING CENTRE – SURREY ASKING $14,000,000

Potential net income $550,000. Re-zoning in progress for 3 towers up to 25 storeys high. Good income while

waiting for re-zoning process to complete.

NEW LISTING - $8,500,000 APPROX 9.9 ACRES IL ZONING – SURREY

Truck parking facility approved and zoned from the city permanently. 202 trucks can be parked. Truck repair,

truck wash facility, plus 4000 sf office space. Brand new building total 11,000 sf. Once in a lifetime opportunity.

MOTEL FOR SALE VALEMOUNT, BC

TOTAL INVESTMENT - $4,750,0003 –in-1 business opportunity

A: 72 unit MotelB: 186 seat Restaurant

C: 4 Building lots vacant for condo or strata title HotelCall for package

NEW LISTING – ASKING $3,500,000

51 UNIT TOWNHOME SITE IN MAPLE RIDGE 3rd reading complete. 4th reading ongoing. Ready to build in 90 days.3 acre site with

77,000 sq ft buildable area.

NEW LISTING32 UNIT TOWNHOME SITE –

SURREYTOTAL INVESTMENT- $2,900,000

3RD reading complete. 2.2 acres. Detailed package available

NEW LISTING – FOR SALEBANQUET HALL IN ABBOTSFORD

BUSINESS PLUS PROPERTYTOTAL INVESTMENT - $2,850,000

Land size 23,870, Building 10,000 sq ft500 seat capacity or more. Lots of parking.

Central location. Updated in 2004.

LIST1-800-661-6988

Top commercial realtors from across Western Canada market their list-ings through the Western Investor.




ELIZABETH WOZNICZKO604-691-6648 [email protected]

Committed to Canada. Connected to the World.

GARY HAUKELAND OR J.D. MURRAY604-683-7535 [email protected] [email protected]

ALF SANDERSON 604-691-6646 alf@naicommercial .ca

DELON CHEUNG 604-691-6654 delon@naicommercial .ca

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

NEW WEST WAREHOUSE

$2,400 / Month

BUSINESSES FOR SALE

RICK LUI [email protected]

VANCOUVER EAST – WELL BELOW REPLACEMENT

Asking $7.8 Million

FRASER VALLEY EXCAVATION BUSINESS

$900,000 incl. equipment

OKANAGAN BUTCHER SHOP & DELI

$650,000 plus inventory

LOWER MAINLAND MILLWORK

$2,000,000 incl. equip & working cap

OKANAGAN CATTLE RANCH

$2,450,000 excl. equip & livestock

www.naibusinesses.ca

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

COQUITLAM OFFICE NEW WEST OFFICE

$839,000

BURNABY OFFICE/RETAIL

COURT ORDERED SALESBest Western Inns & Suites, Tumbler Ridge BC

Price: $7,500,000

397 Acre Development Site, Sechelt BC

Price: $22,250,000

459.1 Acre Development Site, Cranbrook BC

Price: $17,000,000

0.82 Acre Light Industrial Lot, Squamish BC

Price: $450,000

165 Acre Development Site, Abbotsford BC

Price Reduced: $17,500,000

BLUEBERRY FARM (Abbotsford)

....................................$2.1mil

JEWELERY STORE – VANCOUVER ............................ $480,000 + Inv.

CURRENCY EXCHANGE (Surrey)

..........................................................................................................................$150,000

RESIDENTIAL INVESTMENT (Vancouver)

.......................................................................................................................... ...$1.38M

FURNITURE AND HOME DECORATION (Lower Mainland)

$178,000 + Inv.

RESTAURANT & PROPERTY (Princeton BC) ............. $498,000

COFFEE FRANCHISE (Richmond) ........................................................ $283,000 + Inv.

EURO DELI (Coquiltam) .......................................................Assets $183,000 plus Inv.

PRINCE GEORGE, BC – FOR SALE

770 EAST HIGHWAY 16

Asking $4,750,000

251 Units – 2 Properties

Asking $11,000,000

PRINCE GEORGE, BC – FOR SALE

VANCOUVER DINNER CRUISE BUSINESS NEW LISTING

$2,500,000 incl. yachts and moorage

LOWER MAINLAND HAIR & BEAUTY SALON REDUCED

$288,000 plus inventory

LOWER MAINLAND METAL FABRICATING

$590,000 incl. equipment

VANCOUVER BEARD PAPA FRANCHISE REDUCED

$110,000 incl. equip

SALE/LEASE

ARRAN HOUSE – 2902 SOUTH MAIN STREET

Asking $7,500,000

PENTICTON, BC – FOR SALE

LOWER MAINLAND METAL FABRICATING COMPANY REDUCED

$2,400,000 incl. equipment & inventory

3360 WOOD AVE., ARMSTRONG

Asking $1,325,000

ARMSTRONG, BC – FOR SALE

INDUSTRIAL & DEVELOPMENT SITES29,800 sq.ft. Waterfront Development Site, White Rock BC

Under Contract

9.77 Acre Industrial Site, New Westminster BC

Price: $10,000,000

1.82 Acre Multi Family Development Site, Sechelt BC

Price: $2,000,000

6.17 High Exposure Highway Site

Price: $3,000,000!

12,000 sq.ft. Strata Office/Warehouse, Richmond BC

Price: $1,695,000

Happy New Year from Alf and Delon




TED WEIBELZAHL1-800-890-9855 Toll Free

[email protected]

TED WEIBELZAHL1-800-890-9855 Toll Free

[email protected]

MERRITT TOWN HOUSE DEVELOPMENT SITE

ASKING $749,000cres

ASKING ONLY $14,132 per door

99 PAD PHASED MANUFACTURED HOME PARK LAC LA HACHE BC

ASKING $650,000

st

15.44 ACRES ZONED MULTI FAMILY AND COMMERCIAL MERRITT BC

ASKING $2,950,000

INDUSTRIAL STRATA UNIT FOR LEASE OR SALE

#103 – 27250 58 Crescent LangleyASKING $375,000 or $1600 NNN Monthly

MERRITT MINI STORAGE

ASKING $1,475,000

FULLY LEASED LANGLEY INVESTMENT BUILDING CAP RATE 6.1%

ASKING $3,295,000

ONE HOUR OPTICAL AND HEARING CENTRE

ASKING $500,000 plus inventory

MERRITT TRAVEL CENTRE & TRUCK STOP

Asking $3,500,000

KAMLOOPS MINI STORAGE BUSINESS

Asking $2,300,000

KAMLOOPS MOBILE HOME PARK

Asking $1,800,000

KAMLOOPS 42-SUITE APARTMENT BUILDING

FOR SALENext to new SUPERMALL!

$1,999,000Self Storage – Sechelt

$849,000Cloverdale – Office

$7.50/sf Net Rent

KEN KIERS or KEN HICK1-800-890-9855 Toll Free

[email protected]

FOR SALE – AGASSIZ

$3,299,000FOR LEASE

Competitive Rents

KEN KIERS1-800-890-9855 Toll Free

[email protected]

MICHAEL MARCKWORT

[email protected]

ALF SANDERSON

[email protected]

Asking Price $4,690,000

INDUSTRIAL INVESTMENT PROPERTY EXCELLENT QUALITY MOTEL IN EASTERN BC

2 BOUTIQUE HOTELS

MICK MATHEUSIK, M.Sc.

[email protected]

ONLY 7 LOTS LEFT!18660 51B AVE • 3.734 ACRES • $317,000 • MLS# F290194418724 51B AVE • 4.301 ACRES • $365,000 • MLS# F290194818754 51B AVE • 4.701 ACRES • $399,000 • MLS# F29019405053 188TH ST • 7.791 ACRES • $584,000 • MLS# F290193818724 COLEBROOK RD • 8.95 ACRES • $671,000 • MLS# F290193118654 COLEBROOK RD • 9.728 ACRES • $727,000 • MLS# F290192818592 COLEBROOK RD • 10.547 ACRES • $791,000 • MLS# F2901927

To view these listings and more go to www.farmrealtor.ca

Gord HouwelingYour Britsh Columbia Agricultrual ConnectionCell: 604-793-8660 • Toll Free 888-852-AGRI (2474) • [email protected]

HOUSE & ACREAGE • HOBBY FARMS • RANCHES • COMMERCIAL FARMS • CORPORATE SALES • LAND ONLY

RICHMOND LOTS9 lots of land only available in Richmond, B.C. Near Granville Ave and Wesminster Hwy. No access lots, in the ALR. Excellent holding opportunity!

1795 FIR ROAD, AGASSIZ COURT ORDERED SALE. 20.7 Acre former dog kennel operation. Property includes 3,223 sqft 3 bedroom home, horse barn and dog kennel. Dog Kennel was built in 2008 and contains 100 kennels with outside runs, two loading bays, office/grooming room, laundry and washroom. 900 sqft upper mezzanine includes 2 large rooms.

$975,000

CLOVERDALE LOTS

1822 CLEARBROOK RD, ABBOTSFORD CLEARBROOK EXCHANGE. Small home on 2.91 Acres located on the Southeast side of the Clearbrook Exchange. Excellent holding property! Call today for your complete information package.

$1,388,000

13 ALLCOCK RD, QUESNELTHE MK RANCH. The MK Ranch is located on the Fraser River with 2 ½ miles of river frontage, located 18 miles by road North-east of Quesnel, B.C. The ranch is 651 deeded acres on 5 titles, 622 acres of Crown leased land, a total of 1273 Acres. Excellent 3 bedroom home and large barn. Full line of equipment included.

$1,700,000

CATTLE RANCH

4135 SLESSE RD, CHILLIWACKLAND ONLY. 4.92 Acres in Chilliwack. Very private with access to hiking and biking trails close by. Build that dream home! Property

is currently priced below the current appraised value. Owner wants it sold! $299,000

CHILLIWACK RIVER VALLEY

INVESTMENT PROPERTY

FORECLOSURE PROPERTY

A14 www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR

COVER Lacklustre forecasts keeps buyers sidelined and prices in check for commercial real estate in 2011

PETER MITHAM/FRANK O’BRIEN

WESTERN INVESTOR

ecovery on the economic front will go hand in hand with retail and office investment in 2011, as devel-

opers cautiously brush off plans for towers downtown and improved housing starts boost demand in the suburbs for retail projects.

But this year will be characterized by hard bargaining on prices and incentives as doubts remain about the depth and speed of the eco-nomic recovery.

While Metro Vancouver retail remains “the most sought-after property type” in Canada, according to a third-quarter report by Avison Young, sales tallies are off across the board from the second quarter as activity slowed in the second half of 2010 to the lowest level since the first quarter of 2009.

Overall investment sales totalled $527.3 million in the third quarter of 2010, including $68.8 million worth of office deals and $143.7 million worth of retail sales.

Those deals include South Surrey’s SouthPoint Exchange, which sold to a private inves-tor for $91 million, and Bosa Development Corp.’s sale of Semiahmoo Shopping Centreto First Capital Realty Inc. for $82.7 million – both driven by strong growth in surrounding residential communities.

But the deals also highlight the shift from the bargain-taking deal-making that characterized the first half of the year to a strategic rejigging of portfolios in the second half that heralds more stable conditions as owners prepare for the long term.

Based on interviews in the third quarter, Colliers International reported that 61 per cent of investors were looking to expand their portfolios, down slightly from six months ear-lier when 65 per cent were looking to expand. On the other hand, approximately 22 per cent were looking to rebalance.

Close to two-fifths of respondents attributed the shift in emphasis to a desire to shift asset classes, while other key factors were linked to advantages to be gained from location, liquid-ity and leverage. Approximately 17 per cent were looking to trade up or trade down and 6 per cent were looking to increase leverage.

A further 28 per cent refused to disclose the reasons for rebalancing their portfolios, but the several factors point to a hunkering down for the long term in the face of lacklustre growth for the year ahead.

Central 1 Credit Union is calling for no more than 2.4 per cent growth in B.C.’s real GDP for 2011, while the Colliers survey notes that 83 per cent of investors are maintaining, minimiz-ing or decreasing their exposure to risk. While investors want growth, they’re not willing to

take a hit in order to achieve it.This has put safe locales such as Vancouver

at centre stage.Colliers notes that the proportion of inves-

tors keen to divest themselves of properties in Greater Toronto is more than double those keen to invest (53 per cent versus 26 per cent), while Vancouver was an appealing investment locale to 18 per cent of investors – with just 12 per cent considering selling their Vancouver-area holdings.

A panel discussion hosted by the commercial real estate association NAIOP in the last quar-ter of 2011 underscored the appeal Vancouver holds for buyers.

“Investors want to have hope, they want to believe in a future, and I just think Vancouver has this poster boy, poster girl perception that we have it all,” said panellist Kevin Meikle,senior vice-president with Cushman &

Wakefield Ltd. in Vancouver. “Just to have that underlying sentiment, I think, will bodewell for our B.C. market.”

Of course the sentiment may not be true – Meikle said the perception is based on thediverse economy of B.C. rather than its strengthor vibrancy – but the limited supply of potentialinvestment real estate keeps demand steady forthe assets that do become available.

Meikle expects hotel properties to follow retail as the next popular asset category among investors as institutional owners continue to rebalance portfolios to keep pace with the slowbut emerging recovery.

On the other hand, Colliers executive vice-president Avtar Bains expects office propertiesto see strong demand as the economy and ten-ants’ requirements for space picks up and cashflows improve.

New space includes 71,500 square feet inthe mixed-use tower adjacent to the Rosewood Hotel Georgia redevelopment and Jameson House on Hastings Street; the new officetowers being discussed are primarily on sitesowned by institutions that have desire to part with their assets.

“Owning a building in downtown Vancouveris almost like being a member of an exclusiveclub. And getting into that club is really dif-ficult,” Bains said, noting that 34 of the top 45 buildings downtown are owned by just fivegroups.

Still, the tight ownership circle and lack ofnew supply fuels demand for new assets toflesh out the class. While smaller investorsare buying up lower-tier properties to the eastof downtown to get a slice of the office mar-ket, the major owners are able to build top-tierproduct with the help of deep pockets and anattractive financing environment.

While banks are still demanding solidcommitments before releasing financing for construction, institutional builders have thewherewithal to move forward with projects.

Colliers executive vice-president Avtar Bains: “owning a building in downtown Vancouver is almost like being a member of an exclusive club. And getting into that club is really difficult.”

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WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com A15This could spur development of two to three new towers in Vancouver, CB Richard Ellis executive vice-president Jim Szabo told NAIOP. While much of the rest of the contin-ent grapples with negative absorption, a tight market in Vancouver is inviting new construc-tion and investment.

“The market could probably withstand some-thing in the neighbourhood of two, possibly three office towers downtown in that 700,000-to-a-million-square-feet [range] because they won’t all be done at the same time,” Szabo said.

Unlike Calgary, where speculative construc-tion surged on the back of an oil and gas boom, a more conservative character in Vancouver’s diverse, small-tenant market means solid pre-leasing is needed for at least half the potential development sites even as downtown vacancies in triple-A space remain a low 4.4 per cent.

Vancouver is now entertaining or anticipat-ing proposals for six sites around the down-town core, including:

• 520 West Georgia Street (500,000 square feet) by Westbank Projects Corp.;

• 745 Thurlow Street (380,000 square feet) by Bentall Capital;

• 800 Griffiths Way (240,000 square feet) by Aquilini Investment Group;

• 400-block West Georgia Street (480,000 square feet) by Austeville Properties Ltd.;

• 1000-block West Hastings (260,000 square feet) by Oxford Properties Group; and

• 1200-block Burrard Street (190,000 square feet) by Reliance Holdings and the Pattison Group.

“About half of them are pension fund-owned sites and the other half are privately owned sites,” Szabo said of the possible construction sites. But he cautioned, “Privately owned sites are going to need construction financing to get off the ground, and they’re going to need preleasing. And preleasing in this city is dif-ficult.”

Several large tenants requiring in the vicin-ity of 100,000 square feet of space will be reviewing lease arrangements in 2011 in antici-pation of a 2014-15 renewal date, meaning new projects have a pool of potential tenants. The current market constraints stand to keep supply

limited, support rising rents and ensure a secure market for investors.

“I don’t see any possibility whatsoever that downtown Vancouver will match the graph of downtown Calgary,” Bains observed during the NAIOP discussion. “That’s one of the innate protections we have in our marketplace – that we are so diversified that no one’s going to come into the marketplace and want 400,000 or 500,000 or 600,000 square feet all at once.”

Metro Vancouver’s industrial vacancy rate increased to near 5 per cent in the final months of 2010 and, unless there is a sudden uptick in demand, will likely remain close to that level for 2011.

In some key markets the stubbornly high land prices have convinced owner-operators to look at retrofitting older buildings, while speculators are turning to strata units because it has become “economically unfeasible” to build for lease, according to Avison Young.

Industrial lease rates across the region are down from 10 per cent to 15 per cent, and some landlords – especially those holding big-bay

space – are providing generous incentives to draw tenants in, said DTZ Barnicke.

Not that strata space is proving a boon for spec builders, either. Sales of new buildings above 40,000 square feet have seen prices drop as low as $100 per square foot, lower than the cost of replacement.

Yet land values are still in the $900,000-per-acre range in the Fraser Valley and easily top $1 million in Burnaby, Richmond or Vancouver.

So, with eight million square feet of indus-trial space sitting vacant and land prices hold-ing steady as the new year dawns, most expect little speculative construction this year.

“New construction has led to an oversupply,” noted agent Steve Caldwell of DTZ Barnicke, who forecasts this will lead to lower lease rates, particularly in larger industrial properties.

A bright spot, he notes, is in new small strata space of between 2,000 to 4,000 square feet, “which will likely hold steady.”

An overview of the challenges facing the Metro industrial market is in Delta, which has 21 million square feet of space, 9.2 per cent of it vacant. But this is one market that could prove the first to pick up if economic condi-

tions improve.The $658 million South Fraser Perimeter

Road – running from Deltaport to Highway 1– starts this year and is expected to spur specu-lative construction.

Also, the Tsawwassen First Nation isexpected to finalize a deal soon to develop 335 acres of land adjacent to Deltaport.

All this is in the future, however, and will not lead to a big improvement in Delta’s indus-trial market this year. Like the rest of Metro Vancouver, 2011 will be characterized by ten-ants and owner-occupiers “remaining on the sidelines until they witness sustained improve-ment in their business and the economy”, notesAvison Young.

Despite stratospheric prices and the lowest capitalization rates in the country, sales of apartment buildings is expected to be one of the stars in the 2011 real estate environment.This is one market where big investors seemwilling to open their wallets in a search for security and cash flow.

“There is no question that the multi-fami-ly market will remain strong this year,” said Bains, noting that pension funds and other institutional investors have created a new diversity of buyers.

Bains, who one year ago quarterbacked the sale of two of the largest apartment port-folios in the city– Beach Towers and LangaraGardens that sold for a total of $280 million– said only reluctant vendors are keeping the market reined in.

Bains noted the low rental vacancy rate – around 1.5 per cent – little increase in newproduct and an expected 40,000 newcomerswill keep apartment values rising.

This would mean another increase in pricesthat soared 16 per cent in 2010 from a yearearlier to a new average high of $218,266 per apartment in the last six months of 2010. Mostsales action is coming in expensive areas,including Vancouver’s West End and SouthGranville. In the West End – the hottest market last year with 11 buildings selling – the averageprice “per door” was $243,943, according toa survey by David Goodman of Macdonald Commercial.◆

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Burrard Gateway tower, centre: one of six new office projects planned or proposed in Vancouver. None will open this year.

LITTLE OAK REALTY"All offices independently owned and operated"

Call Ray or Richard for all of your Real Estate Needs!email us at [email protected]

1-800-668-8661RESIDENTIAL, COMMERCIAL, INVESTMENT & AGRICULTURE

Ray Veenbaas 604 859 2341

Richard Riemersma 604 309 8541

Little Oak Realty

604-859-2341 TF 1-800-668-8661 #9–2630 Bourquin W., Abbotsford "EACH OFFICE INDEPENDENTLY OWNED & OPERATED"

MOBILE TIRE REPAIR $189,900

MOBILE SANDWICH TRUCKS $245,000

CONTRACTOR SUPPLY $400,000

RESTAURANT $1,200,000

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RESTAURANT $1,500,000

5 COVES ECO RESORT ( Across Howe Sound from

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$2,950,000

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RECREATIONAL PRODUCTS BUSINESS $1,000,000 LAND & BUILDING @ $2,750,000Going Concern $3,750,000

1.78 ACRES, PROPOSED TOWNHOUSE DEVELOPMENT

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$1,500,000

BEER & WINE STORE, HOTEL & PUB

Asking $2,950,000

DEVELOPMENT BUSINESSISLAND PROPERTY

37,000 SQ FT INDUSTRIAL BUILDING ON BEATTY DRIVE ASKING $3,550,0001,800 SQ FT PROFESSIONAL OFFICES ON LOGAN AVENUE ASKING $440,000


For further details please contact:

KENT CRAIG(604) 279-3817 [email protected]

For SaleBURNABY Offi ce Investment - fully leased offi ce building

- 34,685 sf gross building area

- two secure levels of underground parking

- 35,565 sf (.81 acre) rectangular site

We all have too much information. What

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Since 1993 the Jurock Facts by Email (formerly the Facts by Fax) has provided CLARITY to the questions “what should I buy, where and how?”. But also what not to buy. Our readers have been advised not to buy quarter shares, hotel condos, time shares, reverse mortgages and a myriad of other poor investments. They also have been advised to buy and sell real estate ahead of the many ongoing changes in the markets.

We analyze cities in the US, Canada’s major cities and focus on the WEST.

Ozzie Jurock has a unique insight into the exciting world of real estate investing. Ozzie Jurock (FRI) is the author of Forget About Location, Location, Location, What, When, Where, and How to Buy Real Estate in Canada. and The Real Estate Action Book. Ozzie Jurock is also president of Jurock Publishing Ltd.

advisor featured in Donald Trump’s new book: Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies

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Published 50 times a year, the Jurock Facts by Email news source is delivered by e-mail. Its purpose: to provide late breaking timely information of interest to real estate investors and professionals. It also covers other late-breaking news of national and local importance.

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ADVERTISING FEATURE

Victoria, British Columbia 80 Units. Franchised. Limited service. Priced at $5 million best buy. (Holiday Inn Express, Best Western, Super 8, Four Points Sheraton, Hampton Inn, Ramada, Days Inn.)Valemount, British Columbia 72 Units motel plus a restaurant On Hwy No.5 Yellowhead Hwy plus highway and truck stop location. Excellent frontage. Asking $4,888,888. Excellent cap rate of over 12% to 14% approximately.

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Airport North Business Park30553 Great Northern Ave

For Sale or For Lease32,025 S.F tilt slab building, 24’ clear ceiling height, ample power available, N/G radiant heat installed, Grade Loading, I-2 Zoning. Close to Abbotsford International Airport, Highway 1 and the Abbotsford Auto-Mall. Seller may assist with financing OAC.

$4,800,000

Airport East Business ParkJust South of Hwy. #1 at Clearbrook Rd.

Freehold Lots For SaleLots from 1 to 11 acres that will be zoned either IB-1 or I-2. Services on the lot line. Ideal for small to medium sized Industrial users. Full information package available soon.

Maclure Business Park33403 Maclure Road

Rent Month to Month or Lease to Own. Purchase with 90% financing OAC when you combine your first mortgage with a VTB second. Prices start from $1,483 + HST per month.

31877 South Fraser WayFor Lease

High Exposure Freestanding Commercial Building on 1.25 Acres.

Outstanding Commercial Storage Space , 21,530 s.f. with two dock and one grade loading$4.75 per sq ft + HST Gross Lease. Natural Gas Heating, fluorescent lighting and

two piece washroom included. 12 parking stalls with gated access.

Commercial Medallion Club

Homelife GlenayreRealty Co. Ltd.

ABBOTSFORD INDUSTRIAL/COMMERCIAL PROPERTY


Each office is independently owned and operated.


FRASER VALLEY

O P P O R T U N I T YUnique opportunity to purchase 18.75 acres

with a going concern wood shop business.

Full line of equipment included.

Attractive 5 bedroom home, double garage

plus single garage.

Business supplies specialty cut lumber

products to the wholesale and construction

industry and has been in business for over

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List Price:

$3.75 Mi l l ionFor more details on this exclusive listing,

please contact:

STAN W IEBE

1-800-668-8661 [email protected] www.stanwiebe.com

RE/MAX Little Oak Realty9-2630 Bourquin Crescent Abbotsford, BC V2S 5N7Each office is independently owned and operated

OFFICE STRATA UNITS

1050 PACIFIC ST (Main Office Entrance) Unique opportunity to own a dual use strata consisting of a 613 sf office with street entrance + a 870 sf 2 bdrm suite above. 2nd entrance 2J – 1033 Marina side. $1,099,000

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

COMMERCIAL DEVELOPMENT SITE - LANGLEY

21427 83rd AVE near 216 St. proposed interchange in Willoughby Heights in Lan-gley. 1.51 acres for sale (65,000 sq ft) + Properties on either side may also be avail-able (for another 3 acres). Currently zoned SR-2. Suburban Residential with 4200 sq ft house & a few outbuildings on property. Potential future re-zoning to Highway Com-mercial once interchange finished in 2013 (strip mall, hotel?) $1,999,000

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2095 COMMERCIAL DRIVE – ME & JULIO MODERN MEXICAN KITCHEN 1,920 s/f totally renovated new restaurant with 90 seats & 24 on heated patio. Sales $1M/yr with $75K Net. Lease $6,317/mo all in. 2am license on Fri. & Sat. (until Aug 2012 + 5yr option) $299,000

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

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NORTH SURREY LAND ASSEMBLY LILLOOET LAND FOR SALE - 17 ACRES

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LES TWAROG(604)671-7000

Jan 2011

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Business and Commercial ConsultantWith over 25 years combined sales and retail experience7 7 8 - 8 5 8 - 9 0 2 [email protected]

RE/MAX CITY COMMERCIAL DIVISION

Cabinet making warehouse with showroom in Port Coquitlam with almost 4700 sq ft Building & Business $1,189,000 MLS® V4022177

Brand new 738 sq ft Retail unit in Coquitlam with over $100,000 leasehold improvement is waiting for your money making ideas or negotiate a deal for current operating business $519,000 MLS® #V4025034

FOR SALE This can be your space for your business. Call me if you are thinking of selling

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Brand new wireless carrier, Mobilicity Authorized Dealership in Coquitlam Ground level opportunity, Grow fast with this aggressive Canadian company $99,000

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in Vancouver, Vancouver Island, Ontario & Alberta Blenz Franchises ....................... $200K - $368KSteamrollers Franchise Opportunity, SFU, Port Moody, Robson St ..........................$275K eachWired Monk Master Franchise & Franchise Opportunity. Wired Monk ...........................................................................$199,900, $135K, 229K, $299KTitan Motorcycle Single & Master Franchises Available in British Columbia, Ontario and Alberta Canadian Carpet & Tile Vancouver, two locations: ............................................................. $300K, $200K




[email protected]

Warren BehanPersonal Real Estate Corporation

Powell River Investment OPPORTUNITIES

In-Town Oceanfront Property Multi-purpose Development Property; 97 acres gently sloping land + approx 19 acres of foreshore with deep water access

$3,100,000

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

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

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

Aroma's Gourmet Coffee & LunchWell established; coffee & Lunch. Well established; steady clientele. Leased space on active business complex; Across from Airport. Financials available. $59,900

Franchised Limited Service HotelNew Brunswick

- $ 2.775 M

close to $ 500,000

FOR SALE

Contact Info: [email protected]

Serious Inquiries Only Please!

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

SELLINGUNDER CITY ASSESSMENT!

10TH AVE

SELLINGUNDER CITY ASSESSMENT!KITSILANOBLOWOUT!KITSILANOBLOWOUT!

• VIBRANT KITSILANO AREA• C2 ZONING: IDEAL FORPROFESSIONAL, HEALTH,OFFICE, RETAIL, STUDIO USE• CLOSE TO TRANSIT, BUSYBROADWAY ALMA 10TH AVEBROADWAY, ALMA,& UBC• REAR PARKING, FULLKITCHEN & FULL BATH$398,880 for BOTH

TWO COMMERCIAL(C2) ZONED LiveWork/Artist Studios

KEN PHOCENTRE REALTY 778.834.7093604.435.9477 [email protected]

www.KENPHO.com

KITSILANOBLOWOUT!PRICED WELL BELOW B.C. ASSESSMENT!

I N V E S T M E N T O P P O R T U N I T I E S FRASERWOOD LANDING21900 Westminster Highway, Richmond, B.C.

Unit #230*2,187 sq. ft.

*Currently leased to: B.K Ranch Ltd.

-3 year term expiring September 30, 2013 with options to renew

-$28,431 per year triple net income*7 parking stalls

*100% office build out with full HVAC

*Asking price: $469,000

Unit #245*3,602 sq. ft.

*Currently leased to: IRC Building Sciences

-5 year term expiring January 31, 2015-approx. $43,000 per year triple net income

*Over 100 linear feet of window frontage

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*12 parking stalls*Asking Price: $699,000

For Further Information, Please Contact:

*PETER HALL / *CHRIS DAVIES - RE/MAX CENTRAL*Personal Real Estate Corporation

Telephone: (604) 718-7300 (604) 718-7307E-Mail: [email protected] www.davies-hall.com

Unit #135*1,910 sq. ft.

*Currently leased to: E.Excel Canada LLC

-3 year term expiring April 30, 2013with options to renew

-$21,965.04 per year triple net income*6 parking stalls

*40% office build out with full HVAC

*Asking price: $369,000

Yorkson Assembly up to 23 acres available. Currently 14.5 acres assembled. (★) OCP designation for 40-80 UPA. Terms Available.

For more information:Michael G Herberts B.Sc.

604-472-0811

DEVELOPERS A L E R T !

LANGLEY, BC

Results Realty

A20 Lower Mainland/Sea to Sky/Sunshine Coast JANUARY 2011 WESTERN INVESTOR

MEETING INNC H E M A I N U S Vacation Condos and Elite Events Centre

www.meetinginnchemainus.com 1 800 769 5757

RANDALL TAYLOR Tel 250 714 42481 800 769 [email protected]

Real estate trading services are provided by

DTZ Barnicke Nanaimo Ltd. 201 – 155 Skinner StreetNanaimo, British ColumbiaV9R 5E8

Individually owned, fully managed luxury vacation condos in the idyllic coastal town of Chemainus on Vancouver Island.

These revenue condos are set in the heart of the active Cowichan tourist area; known as “The warm land.”

Bi-annual vacation time is reserved for condo owners with on-site management of the condos as a boutique hotel.

Full ownership from$264,000 to $324,000.Only six units available.agents/brokers commissionable

www.meetinginnchemainus.com

YOUR OWN PERSONAL PIECE OF PARADISE

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

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

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

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

For more info email [email protected]

WELL ESTABLISHED CLOTHING BOUTIQUE

FOR SALE$260,000

▲

FEBRUARY AD DEADLINE JANUARY 10TH

Report: Mixed use developmentParking garagesOffice market updateInvesting: takeback mortgagesFranchise NewsRecreational PropertiesRegional Roundups:BC: SookeAB: Fort McMurray/Wood BuffaloMB: BrandonSpotlight: Smithers, BC

Market your listings in the Western Investor. Thousands of private investors and real estate

professionals use the Western Investor to help guide their investment dollars

into profitable businesses.

MAKE MORE DEALS

Darren McCartney 604-892-4875 [email protected]

RE/MAX Sea to SkyReal EstateSquamish

SQUAMISH INVESTMENTS

CHEAP CONDOS AND BUILDING LOTS

Gateway Corner Property Dwtn dev site w/income $1.7 Mil

6,000 sf Site Downtown Mixed use zoning. Only $299,000

I-1 Revenue Property 0.55 Acre, tenants $1.19 Mil

Mixed Use Site 18,000 sf Dwtn, blks to oceanfront $975K

Pub & Real Estate - 4000 sf on over 1/2 Acre 163 seat & BW allowed, redev. potential $735 KPrime Retail For Lease 1,200 – 15,000 sf B Park by National Tenants and Hwy 99! Spring 2011Prime Retail Building Busy Dwtn corner $1.10 Mil8 Acre Single Family Site Panoramic views, great location $2.15 Mil

Well Established 7yrs, popular Café & Catering company

Save-On-Foods, and by car wash

cash fl ow, good return

Downtown Squamish - “Voted Best Lunch Spot” 4 yrs in a row!

Contact:

www.barbgloor.com

$299,000 SHARE SALE

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here is a powerful tool for real estate investors that has been available for centuries using trade (also known as

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accept a boat, car or something else you want (worth at least $50,000) that you will take for part of the purchase price.

I know of several real estate investors who have bought or sold on this basis. A real estate investor I know of accepted a $200,000 Ferrari toward the purchase price of a condo he was selling. With a little creativity anything is possible.

This tool will open new doors that aren’t open with a full cash offer. Many people (especially business owners) are looking to move their excess inventory or distressed inventory and may consider turning it into a piece of property if they can get full value for the trade.

If you don’t really want to take something directly you can also use the services of a cor-porate trade company that will help put buyers and sellers together.

If you are buying real estate you can also use

this same tool. If you find a property you are interested in and the seller is not willing to move on the price, you may have something to trade that could form part of the purchase price. You may even have some property that you are looking to move that he or she will accept in trade.

There are many options when dealing in trade that most individuals are not aware of. If you come across a distressed sale, ask what else the seller would take as a down payment, tie it up and use these ideas to find what he or she needs and trade it.

Another option is to use a corporate trade exchange to help navigate the buying or selling of real estate using trade. Retail trade exchang-es have been around for more than 50 years with over 250,000 businesses in Canada and the U.S. participating in one form or another. Their job is to bring buyers and sellers in all types of business together to exchange their goods and services without the use of cash.

Trade companies are clearing houses for

FEATURE Forget bank loans or cash: Old-school bartering for property can make sense in troubled times

WAYNE EDGAR

WESTERN INVESTOR

their business clients. They help find buyers for the clients’ products or services, which are paid for in a trade credit commonly known as a trade dollar. These trade dollars, which are gen-erated from business that trade company clients wouldn’t normally get are used to offset exist-ing and future cash expenses (usually at their wholesale cost). Ask the trade company if it has any properties listed for sale that are available with trade as part of the purchase price. All you will need is something to offer the trade com-pany to form part of the trade.

A great example is a hotel. If a hotel has 10 empty rooms tonight, tomorrow morning that is revenue that it will never get back (a perishable asset). By trading four of these rooms into the local trade exchange, the hotel gets its regular price without any incremental costs to take the bookings (other than maybe a cleaning fee of, say, $15 per room). When the hotel needs business cards or other printing, it can use its trade dollars to make the pur-chase (at a cost of only $60 – the cleaning fee for four rooms), which is a massive sav-ings every time it purchases on trade instead of cash.

This same concept can apply to real estate. A business that sells seminars to our mem-bers at $1,200 per seat (in other words, full retail price) can use those seats as leverage. Left empty, the seats would represent revenue that is lost forever. By selling the empty seats, the business has generated close to $100,000 of additional revenue that it would not have received otherwise, earned at a cost of around $10 per seat in books, coffee, etc. – a 90 per cent discount every time the business uses trade in lieu of cash.

A rental condo came up for sale for $250,000 with a $100,000 down payment accepted in trade that was cash-flow posi-tive. The purchase was made but, using the example above, the $100,000 trade down pay-ment actually only cost $10,000 – a $90,000 savings on the purchase, which of course is

now converted to real cash in a piece of realestate with, hopefully, rental income to coverthe mortgage.

There are many resources on the Internet that can be researched to learn more about how a trade exchange can benefit any business owneror real estate investor. The key is to rememberthat you must have something of value to trade and need to be able to find goods and servicesor real estate to acquire with the trade you earn.Call your local trade companies and ask howlong they have been in business, how many cli-ents they have and the volume of transactionsthey are doing each month. Make sure to findone that has at least 500 business clients andhas been in business at least 10 years, ideally.

Remember, on your next real estate dealdon’t pay cash, trade for it.◆

Scott Berg and Wayne Edgar, owners of Trade Exchange Canada.

Phot

o: T

rade

Exc

hang

e

Wayne Edgar is a partner, with Scott Berg, in Vancouver-based Trade Exchange Canada,which can be contacted at 604-294-5881 or through www.tradeexchangecanada.com. This article first appeared in Real Estate Action,published by Jurock Publishing Ltd. in 2010.


MAKE MORE DEALS IN 2011!

May ad deadline April 8 June ad deadline May 10 July ad deadline June 13 August ad deadline July 11

September ad deadline August 15 November ad deadline October 11October ad deadline September 12 December ad deadline November 14

■ Report: Mixed use development■ Parking garages ■ Offi ce market update■ Investing: takeback mortgages■ Franchise News■ Recreational PropertiesRegional Roundups:BC: SookeAB: Fort McMurray/Wood BuffaloMB: Brandon Spotlight: Smithers, BC

■ Report: The land issue■ Residential land development■ Fee simple native land■ Costing per buildable foot■ Franchise News■ Recreational PropertiesRegional Roundups:BC: LangleyAB: LloydminsterSK: SaskatoonSpotlight: Flin Flon, MB

■ Report: Franchising & Small Business■ Venture fi nancing■ Retail leasing■ Franchise News■ Recreational PropertiesRegional Roundups:BC: RichmondAB: EdmontonMB: Winnipeg Spotlight: Estevan, SK

■ Report: Strata offi ce & retail space■ U.S. commercial real estate■ Industrial update■ Franchise News■ Recreational Properties■ Regional Roundups:BC: NanaimoAB: CalgarySK: ReginaSpotlight: Powell River, BC

■ Report: Hotels and Motels■ Buying a campground■ Retail update■ Mining towns■ Franchise News■ Recreational PropertiesRegional Roundups:BC: Prince George AB: OldsMB: Portage La PrairieSpotlight: Humboldt, SK

■ Report: Waterfront real estate■ Buying a golf club■ Mobile home parks■ Forest lands: after the beetle■ Franchise NewsRegional Roundups:BC: KelownaAB: Red DeerSpotlight: Churchill, MB

■ Report: Prairie Horizons■ Feature: LEED and Green■ Finance: take out and construction loans■ The new MLS system■ Franchise NewsRegional Roundups:BC: Cowichan Valley AB: Spruce GroveSK: Swift CurrentSpotlight: Steinbach, MB

■ Report: Residential investing■ Financing: apartment blocks■ Bulk condo buying■ REITS in residential■ Condo hotels■ Franchise News■ Recreational PropertiesRegional Roundups:BC: VictoriaSK: Prince AlbertMB: ThompsonSpotlight: Canmore, AB

■ Report: Northeast BC■ Yukon real estate■ Inland ports■ Franchise News■ Recreational PropertiesRegional Roundups:BC: KamloopsAB: WetaskiwinSK: Moose JawSpotlight: Selkirk, MB

■ Report: U.S. Residential investments■ Strip malls■ Best 10 business towns in the West■ NAIOP development cost survey■ Franchise News■ Recreational PropertiesRegional Roundups:BC: VancouverAB: CochraneSpotlight: Weyburn, SK

■ Report: Residential outlook 2012■ Ski resort real estate■ Immigrant investors and real estate■ Franchise News■ Recreational PropertiesRegional Roundups:BC: ChilliwackAB: LethbridgeSK: North BattlefordSpotlight: Carberry, MB

2011 EDITORIAL HIGHLIGHTS

Happy New Year

From all the Staff at

the Western Investor

w w w . w e s t e r n i n v e s t o r . c o m e : a d v e r t i s e @ w e s t e r n i n v e s t o r . c o m

6 0 4 - 6 6 9 - 8 5 0 0 1 - 8 0 0 - 6 6 1 - 6 9 8 8 f : 6 0 4 - 6 6 9 - 2 1 5 4

Advertise your listings and make more deals.

Tell us about your done deals.For more info visit:www.westerninvestor.com/donedeals

February ad deadline January 10 March ad deadline February 14 April ad deadline March 14

WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com Vancouver Island A23

For Sale by Court OrderSidney, BC

Seniors Care Facility81 rooms, vacant

Church13,000 sf, u/g parking

ROBIN HILLMICHAEL BARAGON

604-682-3369 [email protected]

New concrete construction

www.bcoceanfront.comPhone: 1-800-563-7322 250-287-0011

ED HANDJAED HANDJA

ALERT BAY, OCEANVIEW CABINSWell run & maintained resort style accommodations with 12 nicely renovated free-standing ocean view cabins including 2 duplex style cabins, ranging in size from 300–640sqft each & separate manager’s accommodation. Minutes from the amenities & attractions of town, incredible fi shing, scenery & unlimited adventure. Adjacent to an airstrip – fl y your clients with style! $1,125,000

PUB & FAMILY RESTAURANTCypress Tree Inn: 3500sqft building & business on 1.7 acres, consisting of a pub, additional ‘Beer & Wine’ license & separate family restaurant, located at the main highway junction in the Sayward Valley on Vancouver Island - an area popular with tourists from around the world. The only year round business of its kind in this region! Steady growth, excellent potential! $1,100,000

PORT HARDY, SEAGATE HOTEL Rare opportunity to acquire a premier commercial oceanfront and semi-oceanfront downtown development property. 4.16 acres in 4 titles adjacent to the government dock. The original hotel and pub buildings are under demolition order and an additional 4 storey hotel structure is currently not functional but may be a restoration candidate. Prime location! Court ordered sale. $995,000


QUADRA ISLAND RESORT8 extraordinary oceanfront acres with commercial zoning, 390ft of low-bank shoreline, south west exposure & incredible views. Improvements include a charismatic main lodge, 3 duplex cottages, large shop & substantial private moorage. This property has heavily forested areas & expansive lawns & would be an ideal resort development or a superb private oceanfront estate. $1,090,000

NANAIMO & VANCOUVER ISLAND PROPERTIES

DALE SHORTTBus: (250) 758-3700 TOLL FREE 1-800-665-8313

FULLY SERVICED HOTEL Recently renovated, 30 rooms, 125 seat pub, wine and beer store. Generating over $1.5 million annually and growing. $1,790,000

NORTH ISLAND HOTEL & PUB, WINE & BEER STORE 50 Rooms and restaurants. 2 lots. Over 3.9

Million annual sales. $2,995,000

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

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

Approved plan with city. $795,000

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

INVESTMENT PACKAGE Hold or redevelopment, ideal for condos or commercial mix. 5 Revenue homes, 5 lots together, total of 3/4 acres. Generating over $6,000 monthly.$1,150,000

SELLER WILL FINANCE! NEEDS WORK2 homes, 5 suites in total. Hold or redevelop. Zoned RM-5 for condos. $439,000

NOW REDUCED TO $364,900

NORTH NANAIMO 51 UNIT APPROVED PLAN FOR OCEAN VIEW CONDOS

Over 1/2 acre site. Financing available. Asking $1,250,000

23 ACRES $459,000 43 ACRE PARCEL Subdividable into 5 acre country estates.

Priced at S859,900

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

Cost estimates available. Asking $1,475,000

30 ACRE FARM – NANAIMO Jingle Pot Area.

140 ACRE DEV. SITE Nanaimo $3,990,000

INCOME PRODUCING + REVENUE PROPERTIES

5 PLEX NANAIMO 5 meters, over $4,500 monthly revenue. Asking $749,500

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

NEW WALK ON WATERFRONT TOWNHOME $509,000 NO GST, NO HST

HOME WITH SUITE ON 1.6 ACRES Subdividable property. $459,900 .

HERITAGE APTS & PUB 13 small apartments. 115 seat pub leased. 1 commercial space - leased. Generating

over $10,000 monthly. Asking $1,100,000

71 UNIT APARTMENT BLOCK 4 separate buildings. New Renos. Over $500,000 spent. North Island location. Over $27,000 monthly income. Management in Place. $2,350,000

HERITAGE APARTMENT BLOCK13 self contained units.1 commercial space pluslease pub & license.Gross revenue $10,000/month.Asking $999,000

WATERFRONT FIXER UP HOME PLUS COTTAGE On beautiful Protection Island. Sewer & water. 10 minutes by ferry to Nanaimo. $529,900

FORECLOSURE COURT ORDERED SALES

38 Front Street Units for sale. Call Dale for available units.

3 ACRE TOWNHOME DEV SITE Stunning ocean view up to 30 units. $995,000

FORECLOSE DOWNTOWN NANAIMO OCEAN VIEW Mid Rise Development site. Zoned C28, allows for

commercial and multi family. $695,000

FORECLOSURE OCEAN VIEW DEVELOPMENT 9 Acre, 30 lot subdivision in Chase River

Quiet neighbourgood property is beautifully treed And would accommodate 30 – 36 single family

homes or small lots. Mortgager may finance. Trades welcome. $995,000

H O T E L S & P U B S

HOTEL & WINE & BEER STORE 8 suites, pub. Close to Nanaimo airport. $1,190,000NANAIMO BUSINESS OPPORTUNITY AVAILABLE IMMEDIATELY

Lease with option to purchase this Nanaimo restaurant lounge fresh food market. Popular martini lounge with adjoining fresh food market conve-nience store. 70 seat lounge and restau-rant. 18 seat patio. All equipment. $124,500

INCOME PRODUCING + REVENUE PROPERTIES

NORTH NANAIMO OCEAN VIEW CONDO DEV SITE Trades Welcome. Approved plan with city for 23 units.

$459,000

3 ACRE OCEAN VIEW DEV SITE North Nanaimo unrestricted ocean view.

JUST LISTED; FANTASTIC OCEAN VIEW RM-5 Dev site, urestricted views, overlooks cruise ship pier.

Approved for 36 condos, No DCC’s. $729,000

OCEAN FRONT CONDO DEV SITE 24 units, approved plan, overlooks new marina.

Presale included. $1,500,000

FULL FACILITY SUPER 8 MOTEL Central/southern Vancouver Island. High profile Location. 36 rooms, with franchised restaurant that includes 125 seat pub 1.5 acre property. $3,950,000

PACIFICA OCEAN FRONT CONDOS

1 BEDROOM PLUS DEN $239,900

FOR LEASE – JUST LISTED 115 Seat Pub. Central Vancouver Island area.

WHITECAP REALTY PARKSVILLE

SUBDIVIDABLE ACREAGE$499,000

BUSINESS FOR SALE

$59,000

NANAIM0 REVENUE PROPERTY

$314,000

DAN JACK [email protected]

PUB AND LIQUOR STORE

Full Property Management Services

(Residential and Commercial)

including Facility Management

Services on Vancouver Island and

in Prince Rupert, B.C.

Contact Duncan MacKenzie

[email protected]

www.randallnorth.ca

A24 Vancouver Island/Business Opportunities JANUARY 2011 WESTERN INVESTOR

SAVE YOUR CASH

250-889-0007

SEMI-WATEFRONT CONDO SITECOMOX VALLEY

Did I mention the WATERFRONT!!!

Vancouver Island OPPORTUNITIES

ASKING PRICE $1,850,000

Dale McCartney 1-800-638-4226

Ray Pellerin 1-800-377-4374

TF: 1-800-715-3999

Cell: 250-897-8508

[email protected]

www.robphillips.ca

ROB PHILLIPS

COMOX VALLEY, VANCOUVER ISLAND ICI:

Comox Valley

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

www.coastrealty.com

RURAL STORE & RESIDENCE – BATES BEACH-.5 acre lot with great potential-1,540 sf store on ground floor-3 bdrm 1,569 sq ft residence upstairs-Outbuilding & several sheds Asking $430,000

JO KLASSEN’S RESTAURANT:-16 years, highly successful -over 46,000 meals sold per year!!-sells more seafood than any restaurant on

Vancouver Island!! Asking $339,900

FANNY BAY INN:NEIGHBOURHOOD PUB SINCE 1938Wonderful water view locationOver $200,000 in renovations8% cap rate with upstairs suites available for rent

– potential 9.85% cap rate Reduced to $925,000

COMMERCIAL STRATA DOWNTOWN COMOX-Hi profile, hi traffic location w/ huge street frontage-840 s.f. in prestigious Comox Quay Asking $340,000

7.5 ACRES – ROYSTONLarge property located between Trent & Broen RdHydro & piped water accessible from either end Reduced to $250,000

Coast Capital Realty

Great Commercial / Residential Condo AcreagePRIME LOCATION IN SOOKE TOWN CORE

CTC1 Zoning is Highest and Best Zoning Available!

• 1.71 Acres, Near All Amenities.

• Ideal for phased Commercial Units on ground level with Ocean View Condos above.

• Zoning allows Medical Center, Retail, Shopping Centre, Hotel, Motel, Theatre & more!

• Existing 2 bdrm house and detached 2 car garage.

MLS 277854 Reduced to $1,350,000.

[email protected]

Colin Corby & Associates 250.642.6361

email: [email protected]

84 UNIT HOTEL Individually Strated Units

www.travelodgeparksville.comFOR A VIRTUAL TOUR

1-800-661-6988



ommercial realtors working across northern B.C. are on the front line of both B.C.’s rural recession and

its future potential – and no market repre-sents this dichotomy better than the motel industry, made up of hundreds of mostly mom-and-pop operations along the northern highways.

For instance, the pine beetle epidemic that has gutted northern forestry has also impacted tourism, notes Conrad Shmid-Miel, a director with the BC Northern Real Estate Board and a commercial specialist in 100 Mile House.

The forests of black, dead trees, the massive clear-cuts and the mountains of burning brush have turned off tourists, he said, and forced some motel owners to the wall.

“Motel sale prices are probably down 30 per cent [from two years ago],” Schmid-Miel said. This downturn has coincided with a “genera-tional shift,” as many longtime motel owners are trying to cash out.

The result is a glut of listings and lower pric-es. You can purchase a13-unit motel in Cache Creek for less than the cost of a Vancouver or Calgary condo. Overnight motel clients these days, however, are more likely to be tree-plant-ing crews than tourists.

At least 15 per cent of all hotel and motel sales last year in B.C. were distressed sales, according to reports at the recent Western Hotel and Resort Conference in Vancouver.

Schmid-Miel said the 2010 federal govern-ment decision to not approve the Prosperity Mine at Williams Lake – and its hundreds of jobs – may have been the last straw for Cariboo motel owners who were hoping for a turnaround.

The upturn is badly needed. Motel and hotel room revenue across the north plunged 12.8 per cent in 2009 from a year earlier before a

weak recovery was seen in the first quarter of last year, when revenue increased 10 per cent from 2009, according to BC Stats. After a run-up in 2008-09 – when a dozen new motels or lodges opened – con-struction has virtually halted.

S o m e n o r t h e r n motel owners are see-ing higher occupancies than the 55 per cent that is forecast for this year – but their tenants are carrying hard hats and work boots, not fishing rods and cameras. Business activity all depends on where the motels are located.

Fort St. James is a prime example. The town is the closest service centre for the Mt. Milligan mine, officially opened last fall by Thompson Creek Metals Co., which has decided not to provide on-site accommodation for an eventual workforce of some 600.

“We are fully booked all the time,” said the manager of the New Caledonia Motel in Fort

FEATURE Blue-collar clients, lower sale prices and tough financing shape northern hospitality industry

FRANK O’BRIEN

WESTERN INVESTOR

St. James, who said nearly all her clients for the $75-per-night rooms are consultants and engi-neers, the first wave of Mt. Milligan workers.

N i h o L a n d & Cattle Co. president Rudy Nielsen notes that, aside from the new mine, the Fort St. James sawmill has been taken over and

upgraded by Conifex. Also, if ever approved, the $4 billion Enbridge pipeline project will pass close to Fort St. James, though the main benefit will be short-term accommodation for workers.

Mackenzie, also within a 1.5-hour drive from Mt. Milligan and where the local pulp mill and two sawmills have reopened, may also see a recovery in its motel market.

Syd Berisoff of Kelowna-based Syber Realty Ltd. has been selling motels across the north for 25 years. Prices are down from the peak, he said, and vendors – not lenders – are willing to

get creative on the financing. Berisoff just sold a 38-unit motel in Vanderhoof for $1.05 million (down from the $1.14 million asking price) and has a12-unit motel with a house in Vanderhoof for$495,000.

Vendor takebacks are common, Berisoff said, since it is hard to get financing on a small-townmotel purchase. Others note that vendor financ-ing is often the last resort by desperate vendors. “Most of the old-timers want out and they want cash to retire,” Schmid-Miel said

Buyers of “unflagged” motels and smallhotels would need at least 50 per cent to 60per cent of value in cash to be considered for a loan, said Ron Palmer of Kelowna-based Taylor Capital Inc. “Lenders are looking hardat the fundamentals,”he said.

Palmer suggested that lenders are willing to consider lending at rates around 250 basispoints above posted rates on variable-rate loans, and 400 basis points for fixed-rate loans.

Berisoff said he would not hesitate to rec-ommend northern motels as a long-term buycompared with the Okanagan because of the commercial traffic potential and much lowerprices across the north.

Princeton, which has welcomed 340 con-struction workers building Copper Mountain Mining Co.’s $458-million copper and gold mine some 20 kilometres out of town, is the Okanagan exception, Berisoff said.

While the harmonized sales tax is often blamedfor further slowing motel traffic, there are some tax advantages to being in the business.

If a motel owner sells the assets and reinvests in another motel business within 12 months ofthe sale completing, he or she can defer the payment of any federal capital gains tax. If theshares of the company that owns the motel aresold, the vendor also will not have to pay theB.C. property purchase tax.

This so-called rollover provision, combinedwith the distressed prices and the potential of a resource recovery, may convince some inves-tors that this may be the time to buy motels inNorthern B.C.◆

This 38-unit motel in Vanderhoof sold for $1.25 million: prices are down about 30 per cent from the 2008 peak. Buyers are warned, though, that lenders are playing hardball.

Phot

o: S

yber

Rea

lty

15 per cent of B.C. hotel and motel sales last year were distressed sales

of Nanaimo

VANCOUVER ISLAND COMMERCIAL

FRANK JOHNSON JAY COUSINS JAY COUSINS JAY COUSINS

www.nanaimoremaxcommercial.com

1-877-335-4380Jay Cousins

[email protected] Johnson

[email protected]

1-877-423-0984Jay Cousins Realty

INVESTMENT OPPORTUNITIES1.4 ACRE PROPERTY ZONED HEAVY INDUSTRIAL

$595,000

FOR SALE OR LEASE – HUGE 11,500 SQ FT WAREHOUSE

$899,000

$995,000

–

$1,895,000

REDUCED $1,950,000

INVESTMENT OPPORTUNITIES

$115,000 each or $210,000 for both

$1,495,000

$2,075,000

BUSINESSES$75,900

$139,000$149,000$149,000$160,000$219,900$229,000

FOR SALE

$1,600,000LIGHT INDUSTRIAL PROPERTY

Reduced to $890,000

$1,890,000.00

$1,190,000.

INVESTMENT OPPORTUNITIES TWO HIGHLY SUCCESSFUL LEARNING CENTRES

$479,000

FOR SALE OR LEASE – INDUSTRIAL PROPERTY

$699,000

REDUCED $925,000

$690,000$1,590,000

$1,088,00028,000 SQ. FT. OFFICE

REDUCED $1,950,000

$4,500,000

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

604-669-8500 1-800-661-6988

[email protected]

Reach potential buyers with money to spend. Western Investor readers have higher than average household income and a real interest in real estate.

Do you have a

Advertise your listings in our

special feature.

Recreational Real EstateADVERTISING FEATURE:

• Limited spaces• 4-colour ads• Special rates

WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com Vancouver Island A27

ALAN PRATTEN 250-891-3025

FAIR REALTY, Victoria, BC

[email protected]

1000' Protected MARINA, 11 Oceanfront CABINS,

Offi ce, House, Log Pavillion, Boats, Bikes,

Vendor may assist with fi nancing. $1,699,000

QUADRA ISLAND, B.C. GULF ISLANDS, MARINA & RESORT

Wanted: INVESTOR/BUILDER for Joint Venture opportunity

in Victoria BC Good profi t, one year term.

$1,797,000

JUDY GRAY, CCIM

1.800.600.1718

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

Canada V0R 3A0

www.judygray.com

MID-ISLAND REALTY

PACIFIC COAST COTTAGES Main home plus three cabins – 2,

2bdrm, 1, 1 bdrm all fully furnished rental cabins. 2.42 acre property.

$750,000www.pacificcoastcottages.com

FLETCHER’S COVE B & B

Cape Cod style family home. 1.56 acres, Ucluelet Harbour frontage.

Separate owners living area. $933,000

www.fletcherscovebb.com

EBB TIDE B & B

Waterfront home with separate BB on lower level overlooking Spring

Cove, private beach. $1,375,000

www.ebbtidespringcove.com

RAINFOREST BEACH LODGE

Oceanfront overlooking the open Pacific Ocean. 4 BB rooms complete, 4 BB room unfinished, 3 staff accoms. + three 2 bdrm

fully equipped cabins.$2,595,000

www.rainforestbeachlodge.com

LOOKING FOR A LIFESTYLE CHANGE??

SYLVIA THERRIEN 250.385.2033 [email protected] www.sylviatherrien.caPersonal Real Estate Corp

VANCOUVER ISLAND Comox Valley

www.robsamsom.caRE/MAX Ocean Pacific Realty

Rob Samsom AACI CCIM FRIPERSONAL REAL ESTATE CORPORATION

1-888-829-7205

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

$174,900

Multi tenanted commercial building .......................................$299,900

SPACES FOR LEASE

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

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

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

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

On .23 ac, Cumberland ...........

$695,000

11/2 AC under glass with house, shop & 6 ac .................................................$1,900,000

DONE DEALSNew! Done Deals editorial feature will highlight deal fl ow in Western Canada.

Show the market what is moving and who is moving it. The monthly report will highlight major (basically 50K square feet or more; or land deals of $2 million or more) commercial real estate transactions that have closed within the last 30-45 days in Western Canada.

www.westerninvestor.com 1-800-661-6988

Please send us the following information:

• What was sold or leased?

• Who was the vendor (if possible)?

• Who was the buyer/tenant?

• If the name of the buyer is confi dential, please tell what type of buyer (i.e., REIT, institutional, local investor, foreign investor, owner/builder)

• Who was the listing agent/agency?

• What was the selling price?

Please forward this information directly to: Frank O’Brien, Western Investor Editor at [email protected].

FRANK O'BRIEN Editor

Subs

cribe


CALL NOW 1-800-661-6988

A28 www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR

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

Toll Free at 1-888-707-3577

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

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

Toll Free at 1-800-830-7175

RE/MAX SABREREALTY GROUP

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

RE/MAX LITTLE OAK REALTY2630 Bourquin Crescent West,

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

Toll Free at 1-800-668-8661COMMERCIAL

DAVID KEARNEY CCIMwww.davidkearney.com

[email protected] 604-942-0606

Toll Free: 1-888-942-0606RE/MAX SABRE REALTY

DEVELOPMENT OPPORTUNITY

INDUSTRIAL OPPORTUNITY

COQUITLAM High profile end unit off United Boulevard. 5000 square feet – 3500sf office, 1500 sf. warehouse 2 grade level doors. Leased unt i l June 2012 – CLS#V4024075For Sale at $925,000

YOU CAN LAUGH AT MONEY WORRIES

--- IF YOU FOLLOW THIS SIMPLE PLAN

Buy low, allow time to compound, take advantage

of tax breaks, use Professional advice.

Say goodbye to your boss, and come own this turnkey biz in Abbotsford. Sales of

books and teacher supplies. Easy biz to learn and owner

will train.

*R.V camp ground close to Hope, BC. Development

opportunity with subdivision approved, for 49 lots. This is one of those rare

offerings, act accordingly. $1,349,000.

www.wildrose.canbyours.com

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

COQUITLAM For Commercial Ground Level, Apt or Office above 19000 Sq. Ft. Lot – C1 Zone Application in process. Busy location – 1649 - 1665 Como Lake Avenue

$1,350,000 CLS # 4023345

FOR SALE OR LEASE IN CHILLIWACK

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

www.bobplowright.com

FOR SALE IN CHILLIWACK

8,940 sq. ft. building Completely renovated Priced below appraised value

Court ordered sale Light Industrial Building Warehouse & Office

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

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

$5,350,000

INDUSTRIAL LAND

1 to 20 Acre Development Lots

SALE $619,000

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

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

spot today

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

BUILD TO SUIT

PROGRESS WAY INDUSTRIAL PARK BUY OR LEASE

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

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

Sumas Border

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

SALE $649,900

2,843 sq. ft. 4 Bedroom Home Great living space Zoned CD14 - Outside Storage

Light Industrial/Commercial Ideal for Automotive, woodwork,

Machine Shop, Warehouse, Distribution

1 ACRE INDUSTRIAL LIVE/WORK PROPERTIES

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

separate gas and electric meters Residential units above

Separate 3 bdrm, 2 bath residential unit with 1 bay shop Close to airport and suitable for

airport related use SALE $689,900

SIMILAR

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

storage, warehousing, food processing, etc.

FOR LEASE

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

Lease from $12-$13/sq ft.

Retail - 2,060 sq. ft. Excellent exposure

New tenant incentive

Lease $12/sq ft.

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

Well maintained building

Lease from

$6.50-$14/sq ft.

Ideal opportunity for live/work Property is .60 acres Modular home & Restaurant Zoned C2 (HWY Commercial)

Completely Renovated In Harrison Hot Springs 1,057 sf strata property Fully Leased- 7% CAP


SALE $177,900 SALE $219,900


SALE $975,000

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

Good street exposure Plenty of City Parking Renovated in 2007

INVESTMENT PROPERTY


RAY YENKANA CCIM, ABR

[email protected]

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

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

OFFICE FOR SALE Langley, BC

KEITH SETTER 604-533-3491

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

RE/MAX TREELAND

BUYER/TENANT REPRESENTATIONIndependent Representation for Buyers or TenantsHave your Commercial Professional source your requirements: Properties, Bylaw Compliance, Investment Analysis, Negotiations. Call or email David!

INVESTOR ALERTTurn $7 Mill into $25 + Mill. 43ac property Langley. All services at property line, adjacent to existing subdivisions. Call for details

VICTORIA - Carefree Net 8% Cap RateQuality National Tenant. Full info w/ Confidentiality

Agreement $5,999,000 #V4024073-Call or email David!

INVESTMENT OPPORTUNITY

SPECTACULAR VIEW 36.4 ACRE PROPERTY – ABBOTSFORDOne of a kind awesome view, overlooking Fraser river & Valley farms. Ideal building site for the exclusive country estate. Fully useable farmland for berries or livestock. First time offered at $2,198,000

CALL ROY MUFFORD 604-533-3491

western investor january 2011 section a

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