western investor march 2012 section b
DESCRIPTION
Commercial Real Estate, Franchises and Business Opportunities in Western CanadaTRANSCRIPT
5 “THIS TIME IT IS FOR REAL”Patient Prince Rupert booms with port traffic
$ 4 . 2 9 M A R C H 2 0 1 2 V o l . 2 7 / I s s u e 3INTERIOR B.C. • ALBERTA • SASKATCHEWAN • MANITOBA SECTION
16 MCMANSIONS “ARE DEAD” B.C. resort properties turn back the clock with low-cost, rustic retreats
21 FORT MAC AT $1.2M AN ACRE Industrial developer grabs monopoly position in the oilpatch capital
.C.
hoo:
JuH
Idy
▲
Don Krusel, president of the Prince Rupert Port Authority: record ship-ments and plans for LNG
PUBLICATIONS MAIL AGREEMENT 40069240
RETURN UNDELIVERABLE CANADIAN ADDRESSES TO CIRCULATION DEPARTMENT:
102 EAST 4TH AVENUE, VANCOUVER, B.C. V5T 1G2
Break Out of the Box
Call 780.361.6231 or visit W
WW.JEDIALBERTA.COM
City and C
ounty of Wetaskiw
in, Town of M
illet
Land...red tape…business costs…
they can have any transportation & logistics business
feeling boxed in.
Get your business freedom
back 30 minutes south of Edm
onton, where red tape is a bad w
ord, there’s affordable land to spread out on, business costs are com
petitive, a nose to the grindstone w
orkforce has your back thick or thin, and there’s easy access to major rail, road, and air
linkages. Hom
e Hardw
are chose us as its distribution hub for western C
anada; Santa Claus
considered us.
LIFESTYLE PROPERTIES
SPECIAL SECTION • B16
Winnipeg RealEstate Forum
B2 Interior British Columbia www.westerninvestor.com MARCH 2012 WESTERN INVESTOR
www.sopasquare.comMIKE GEDDES*
SOPA SQUARE
List Price: $2,900,000 www.bcip.ca
MULTI TENANT INDUSTRIAL – PENTICTON
List Price: $10 M & $5.5 M
DEVELOPMENT SITE – KELOWNA NORTH
List Price: $399,900
3151 HILL ROAD, LAKE COUNTRY
www.bcip.ca
7092 PLEASANT VALLEY ROAD, VERNON
List Price: $1,175,000
247 BRIDGE STREET, PRINCETON
List Price: $2,690,000
230 CARION ROAD, WINFIELD
For Sale: $1,495,000
391 TILLEY ROAD, WINFIELD
List Price: $879,000
YOUTH HOSTEL
List Price: $290,000 (share sale) plus invERIC WEBER*
PANAGO PIZZA
364 LOUGHEED ROAD, KELOWNA
List Price: $599,000 (Business Only)List Price: $1,052,000 (Building Only)
DOWNTOWN KELOWNA
List Price: $1,700,000
Colliers InternationalCentre GroupCommercial RealtyKelowna, B.C.250.763.2300
www.colliers.com/kelowna
Colliers InternationalCentre Group Real Estate ServicesKamloops, B.C.250.372.7000
CRANBROOK B.C
$1,275,0000
RAMADA
$3,249,000
RAMADA
$1,995,000
REVELSTOKE
$3,495,000
PRINCETON
$988,000
MUST BE SOLD
$259,000 !!
HOUSTON, BC
$2,950,000 for BOTH!
GAS BUSINESSES
$1,495,000
CHASE BC
$1,100,000
LIQUOR BUSINESSES
$399,000
$495,000
$1,595,000
MOBILE HOME PARK
$699,000
REDUCED REVELSTOKE
$959,000!!
VERNON GROCERY STORE
$1,275,000
To view photos on these and other opportunities visit our website www.syberrealty.com
:eciffO 250-862-8100 Fax: 250-984-0803
MOTEL, HOTEL & BUSINESS CONSULTANTS MEMBER of the Canadian I.C. & I Council
201-1449 St . Paul St., Kelowna, B.C. V1Y 2E5
Syd Berisoff Agent/Broker
Larry BerisoffAssociate Broker
Jody L. Miller
[email protected] Real Estate Corporation
McLaughlin Commercial Group - RE/MAX Commercial - RE/MAX Kelowna
RARE, NEW FEE SIMPLE MIXED BUILDING+/- 6,581 SF - 6 STRATA UNITS
Newly constructed corner fee simple mixed use building is completed. 3 residential and 3 commercial strata units. Superior construc-
tion! Commercial bays are available for viewing at any time.
Full Building: $2,000,000 plus HSTCommercial Only: $1,200,000 plus HST
PRIME DEVELOPMENT SITES WINFIELD TOWN CENTRE
FULLY SERVICED & READY TO BUILD
2.93 Acres - Lots 1 & 2 $ 3,899,000 1.71 Acres - Lot 1 $ 2,500,000 1.22 Acres - Lot 2 $ 1,500,000 0.90 Acres - Lot 3 $ 1,000,000 2.67 Acres - Lot 4 $ 3,250,000
6.5 Acres – Asking: $6,500,000,00 + HST
MLS®
(Plus DLC – Latecomer Charges)
APPROXIMATELY 115.68 ACRESLAND ASSEMBLY IN NORTH GLENMORE/
UNIVERSITY DISTRICT
Minutes from Kelowna’s International Airport. One side abuts golf course in Quail Ridge.
Gravel Pit is a permitted use!
70.80 Acres - Lot D $5,318,000 15.63 Acres - Lot 1 $1,315,800 11.62 Acres - Lot 9 $ 962,200 9.10 Acres - Lot 10 $ 773,500 8.98 Acres - Lot 8 $ 763,300
This assembly comprises 5 lots that can be pur-chased individually or as a complete
package.
Asking: $9,132,800.00 MLS®
2 WAREHOUSES AVAILABLE FOR LEASE
-rooms, warehouse and loading dock.
level and warehouse.Both are located in the Sexsmith Road area.
Lease Rates: $8.00 and $9.50 PSF plus NNN + HST
Ken McLaughlin, B.Comm. - 250.870.7845
LEASE OFFERINGS Kelowna, West Kelowna & Lake Country
Industrial - Kelowna 1,569 – 2,619 SF New Tilt-Up 1,990 SF Downtown Kelowna
Service Commercial - Kelowna 3,176 SF Commercial Mix
Retail/Pad Sites - Lake Country
DOWNTOWN WEST KELOWNA0.47 ACRES OF HIGHWAY FRONTAGE
Previous Big O’Tire locationCurrent 3,028 SF building has 5 car bays,
Zoned C1 - Town Centre Commercial
Asking: $850,000.00 plus HST
LOWER MISSION EXCLUSIVE OFFERINGINVESTMENT PROPERTY ON
LAKESHORE ROAD
corner of McClure and Lakeshore Road. Endless possibilities.
Asking: $1,600,000.00 MLS®
NEW TILT UP INDUSTRIAL BUILDING 1,569 - 7,295 SQUARE FEETINCENTIVES AVAILABLE!!!
Lease Space on McCurdy Road.
200 amp., 3-phase power. Open parking.
Asking: $12.50 psf plus CAM MLS®
HIGH EXPOSURE - CENTRAL KELOWNA1.78 ACRES PRIME DEVELOPMENT LAND
Located at the corner of Spall Road and
best undeveloped commercial pieces left in Kelowna.
Zoned C4 - Urban CommercialAsking: $3,999,000.00 plus HST MLS®
Your First & Last Call!
Kris McLaughlin - 250.870.2165
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
FEATURES5
Shipments of containers, coal soar as LNG plant eyed
21 Savvy developer may have lock on short-term monopoly
29 Northern city ripe for $55 billion mining bonanza
Download a PDF of all our Regional Roundups online at www.westerninvestor.com
COLUMNS9 19 27 31
On the coverDon Krusler, president of the Prince Rupert Port Authority: coal and container traffic hits record Photo: Prince Rupert Port Authority
2–10
10–24
25–30
31
LIFESTYLE PROPERTIES
B4 Interior British Columbia www.westerninvestor.com MARCH 2012 WESTERN INVESTOR
PUB/LIQUOR STORE PROPERTYFOR SALE
IN WILLIAMS LAKE, B.C.
D. Manning & Associates Inc., in its capacity as Court-Appointed Receiver of the Property of Pium Developments Ltd. (“the Com-
pany”) is seeking offers to purchase its right, title and interest in the Property of the Company, namely the Laughing Loon Pub and Restaurant located at 1730 South Broadway, Williams Lake, B.C. (“the Property”).
The Property consists of a vacant one storey, full basement, wood frame building, formerly a pub and liquor store. The pub has space for 65 seats inside and an additional 55 seats on the patio, and a parking lot with about 41 lined stalls. The land is approximately 1.048 acres in area. The Property is presently zoned CS-4 (Neighbourhood Pub Commercial) by the City of Williams Lake. The offering includes a Liquor Store License, a Primary Food License, and a Pub License.
Prospective purchasers must submit offers to the Receiver to purchase the Property prior to 4:00 pm Pacific Time on Friday,
March 30, 2012 at the address listed below. The form of offer is included in the Receiver’s Information Package, which contains the terms and conditions of sale.
This invitation is intended solely for the purpose of soliciting offers from qualified, prospective purchasers of the Property offered.
To request an Information Package or to arrange for a viewing of the Property, please contact:
Don N. Manning, CIRP
D. MANNING & ASSOCIATES INC.Court-Appointed Receiver of the Property of Pium Developments Ltd.
520-625 Howe StreetVancouver, B.C. V6C 2T6
Phone: 604-683-8030 Fax: 604-683-8327
www.manning-trustee.com
OKANAGAN – B .C . INTER IOR I N V E S T M E N T O P P O R T U N I T I E S
VADIM KOBASEWC O M M E R C I A L R E A L E S TAT E S P E C I A L I S T
250-492-2233 / 1-800-567-6770RE/MAX FRONT STREET REALTY, PENTICTON, B.C.
CHRISTINA LAKE CAMPGROUND
Motivated Seller Asking $699,000
FIRST TIME ON THE MARKET IN OVER 20 YEARS !
BUY NOW! SEASON STARTS MAY 1
Option 1 Business OnlyLease Land & Buildings9.5% Rate of Return Price $1,899,000
Option 2 Business plus Land & Buildings. 7.7% Rate of Return Price $4,199,000
YOUR CHOICE OF TWO PURCHASE OPTIONSVERNON SELF STORAGE BUSINESS OPPORTUNITY
PRIME FARM-HOLDING LAND - OSOYOOS
Asking Price $1,695,000
www.mcmrealestate.ca
Mona M. Murray Dip. ULE, RI (BC), CPM250-372-2277 [email protected]
Mona M. Murray Dip. ULE, RI (BC), CPM250-372-2277 [email protected]
#8 – 1103 12th STKamloops, BC
www.mcmrealestate.ca
RIVERBEND - 760 MAYFAIR STKamloops, BC
BUSINESS OPPORTUNITIES INCLUDE:Entertainment Facility, Medical Office,
Professional, Personal, Health Services, Community Care Facility SALE PRICE
LOT A 1,937 sq.ft: $387,400 $242,000$721,600
LEASE RATE
For Sale or
Lease
For Sale
INVESTMENT OPPORTUNITYg Strata Titled Commercial Lot
Asking $235,000
WESTERN INVESTOR MARCH 2012 www.westerninvestor.com B5
COVER Port town of Prince Rupert on tenderhooks as governments and resource giants decide its fate
Please see Investors page B6
FRANK O’BRIEN
WESTERN INVESTOR
ews that a giant LNG plant – that would need 1,000 workers to build – is being considered for the north-
ern port city of Prince Rupert has come hard on the heels of a record-setting year at the second-largest coal and container port on B.C.’s west coast.
But while the economic buzz is building, you can still buy condominium apartments for $30,000, housing sales haven’t budged in four years, hundreds of people have fled and retail and office space is going dark across the the city. “Downtown is like a hockey player’s teeth,” quipped one jaded commercial real estate agent.
“I have been here for 30 years and I have been hearing about the potential boom for 20 of those,” said Lynn Chivers, a realtor with Randall North Real Estate Services in the city of 12,500. According to Chivers, “There has been only one year when you could have flipped a house for a profit.” Indeed. The aver-age detached house price in Prince Rupert is now around $175,000, virtually unchanged from 2008, and you can still find a decent house for even less.
Cheap housing is one of the lures for the port city, agreed Michael Gurney, manager of corporate communications with the Prince Rupert Port Authority; he moved up from Vancouver last May. But as Gurney outlines the port’s stunning performance and potential, the suggestion is that the low prices – and the economic lull – won’t last for long.
The port has already undergone an expansion that has doubled its capacity to 24 million tonnes and there are plans to double that again within nine years under its $300 million expan-
sion plan.The Fairview container terminal will grow
from handling 750,000 containers a year to 1.2 million, and then onto two million annually. Plans are in place for four bulk terminal sites, each capable of handling 10 million tonnes of cargo. On Ridley Island, there is more than 1,000 acres of tidewater industrial land ready for the foundation of an import-export logistics park for warehousing, transloading and reload-ing customers.
“We are open to inquiries for any type of industrial use,” Gurney said, noting that the industrial land can be leased for up to 100 years.
At the port’s Ridley terminal, work is high-balling on a multimillion-dollar, four-year port and rail upgrade that will double coal exports to 24 million tonnes a year, which would rank Ridley as the No. 1 coal export terminal in Canada, ahead of Delta in Vancouver’s Lower
Mainland, which handled 20 million tonnes last year. Ridley takes in coal from B.C., Alberta and even the United States, an indication of how efficient its rail-and-port system is run. It is cheaper to ship coal from Wyoming to China through Ridley than from any U.S. port.
Also in line is a 150-acre general cargo ter-minal and a barge and short-sea shipping ter-minal.
Already, 1,500 people work at the port – many making six-figure incomes – and the current $80 million in salaries and wages would balloon to $310 million annually when the expansions are complete. Sums up Don Krusel, president of the Prince Rupert Port Authority, “That’s a big and bold list,” as the port becomes Canada’s major route to China, the world’s second-largest economy.
Yet the port expansion is only part of Prince Rupert’s potential.
As this article was being put together, two eco-
nomic bombshells landed in Prince Rupert. First was the announcement that the city has been short-listed by British natural gas giantBG Group PLC for a large liquefied naturalgas (LNG) plant. David Byford, a Houston,Texas-based spokesman for BG, confirmed an agreement is in place with the Prince Rupert Port Authority to “consider the feasibility” ofthe LNG plant.
No decision should be expected for two years, but if the plant is approved it wouldmean 1,000 construction jobs for 24 monthsand then up to 200 full-time employees, esti-mates Derek Baker of the Prince Rupert PortEdward Economic Development office.
Prince Rupert’s main – and tough – com-petitor for BG’s LNG plant is Kitimat, where Royal Dutch Shell has already bought the oldMethanex plant for an LNG terminal.
The second bombshell was lobbed by anEnbridge spokesman who told reporters dur-ing an Asian tour with Prime Minister Stephen
RIGHT: Don Krusel, president of the Prince Rupert Port Authority: Canada’s major route to China, the world’s second-largest economy. TOP: The Port of
Prince Rupert: multimillion-dollar expansion could spin $300 million in annual wages. Ph
otos
: Pr
ince
Rup
ert
Port
Aut
hori
ty
KAMLOOPS, BC & AREAFuture Mobile Home Park Clearwater, BC 15
acres plus 2.7 acres, highway commercial.
$279,000
Mini Mall Barriere, BC – 5 units plus vacant
lot for future expansion 242 ft. hwy frontage
$399,900
Commercial Building, with 4 Bedroom Suite –
Clearwater BC Building just under 4000 sq ft. ¼
acre lot. Current use is restaurant. $274,900
–
Building lots, great sub-division.
next phase
ready in June 2012. Acres of land for future
development.
– Consists of
8 attached units & 6 separate cabins, plus of-
fice with owners suite. On 3.26 acres along river
channel. Buildings are in great condition. Monthly
rentals plus daily summer rentals. $549,900
-
nice premises
Call MARVIN [email protected]
www.realestatekamloops.ca
PENTICTONLUXURY MOUNTAIN TOP HOME ON 2 ACRES
BEAUTIFUL VIEWS OF SKAHA AND OKANAGAN LAKE
$1,999,000
PENTICTONLAKEFRONT PENTHOUSE WITH MOUNTAIN VIEWS
AVAILABLE IMMEDIATELY
1 BDRM + DENNEW PRICE $479,000
OSOYOOS10 INCOME PRODUCING
LAKEFRONT RV LOTS
$1,250,000 + HST
monarkinvestments.caPlease visit our website or call for more details.
604-592-7250Financing Available. Potential Trades.
FOR SALE
PENTICTONLAKEFRONT PENTHOUSE AMAZING VIEWS OF OKANAGAN LAKE & AVAILABLE IMMEDIATELY
2 BDRM + DENNEW PRICE $1,499,000
B6 Interior B.C./Business Opportunities www.westerninvestor.com MARCH 2012 WESTERN INVESTOR
Located in the heart of Radium Hot Springs. Comes with attached 2 storey living quarters. Over $250,000 spent on renovations in the last year.Owner will finance with $350,000 down payment.
Contact: BILL [email protected]
250-347-2439
20 Room Motel
$750,000
Profitable Publishing Business For SaleHotel Guest Directories Est. October 1993Territories available: Penticton & Vernon, BC
Selling Due to Retirement• Business is territory driven with annual advertising
sales, publishing and updating of Hotel guest Directories in each city. Available as a package or separate entities for Penticton and Vernon, BC
• Exclusive long term contracts with 15 hotels in 2 cities for supply of Guest Room Directories.
• Current owner is a graphic designer, satisfying all aspects of sales, creative, pre-press and updating. Although a great fit for an established graphic design business, ad sales are the key.
Asking $74,000 for the two territories.
Contact Bryan Chamberlain1-866-209-1883
Email: [email protected]
(250) 231-5222 (CELL)
(250) 368-5508 (FAX)www.cbcworldwide.com www.coldwellbankertrail.com
COLDWELL BANKER COMMERCIAL WORLDWIDEHOTEL, LIQUOR STORE, RESTAURANT $499,000
COURT ORDER SALE
BLOCK MOTEL $695,000LARGE REDEVELOPMENT
PROPERTY.
DRY CLEANER $89,000NICELY EQUIPPED.
THE ONLY ONE IN THE CITY.
LIGHT INDUSTRIAL BLDG $425,000
4 LARGE LOADING DOORS. OFFICES & MEZZANINE.
AUTOMOTIVE BUSINESS
HIGH VOLUMELARGE EQUIPMENT
PACKAGE $159,000
DEV. PROPERTY $669,000
600 FT OF HWY FRONTAGE FOR AUTO DEALER & BODY SHOP.
CHATEAU MANOR $2,490,000
GOLDEN LIFE 20 UNITS & MANAGERS SUITE.
GROSS $390,000/YR.
MILANOS PIZZA $169,000THIS TAKEOUT IS ESTIMATING
"400,000" IN 2012.
1ST TRAIL REAL ESTATE LTD.
MIDWAY STORAGE
$1,290,000NICELY LOCATED
EXCELLENT SHAPE100% FULL
GREAT SELECTION OF TENANTS
QUALITY INN 48 ROOMS
RESTAURANT$2,590,000
NICELY LOCATED AT THE CROSSROADS OF
THE KOOTENAYS.GOOD VOLUME.
VERNON COMMERCIALLARGE OFFICE SPACE
FOR LEASE - 30,000 sq. ft. of prime offi ce space on 2.08 acres providing abundant parking. Situated in Vernon’s north business area. Close to restaurants, hotels, shopping mall, Wal Mart, Future Shop, etc. Zoned C5 - permits a large variety of uses. Pos-sibility of demising building into smaller retail or of-fi ce units. Building in A-1 condition. Available end of 2012. MLS® 10040168 Asking $15/sq.ft.
CONVENIENCE STORE c/w RESIDENCE
Be your own boss. Well established Vernon conve-nience store showing annual increasing sales. Price includes business and real estate. Hi-tech security system, computerized inventory control, new fur-nace, comfortable living quarters. Approximately $30,000 in inventory (not included in purchase price). MLS® 10036249 Asking $435,000.00
1 ACRE COMMERCIAL LOT – 27th STREET1 + Acre development lot on Vernon’s busiest street with mixed use commercial. City will consider a com-bination of retail, offi ce and residential with medium to high density. Great location, walking distance to downtown core, close access to all amenities.MLS® 10037001 Asking $1,590,000.00
LEASING OPPORTUNITIESMost any types of Offi ce, Retail, Service Commercial, Light or Heavy Industrial spaces available.
Contact Ken or Peter
Ken McCluskey Peter Lockhart
1-800-434-9122250-545-5371 Royal LePage – Vernon
DEVELOPMENTAL LAND AND
GOLF COURSE FOR SALEIN THE BEAUTIFUL
BC INTERIOR
162 Acres 9-Hole Golf Course Club House Residence Trades Considered
BEST-WEST REALTY LTD.250.554.4511
Dwight Vos250.371.7992
Tracy Mackenzie250.318.2938
I N D U S T R I A L P R O P E R T Y
$2,400,000
250.801.8380 / [email protected]
Coldstream / Vernon
from B5
Harper that Enbridge may “reconsider” Prince Rupert, rather than Kitimat, as the terminus for its $6.6 billion Northern Gateway pipeline.
That news would not be greeted with general glee in Rupert. In February more than 600 resi-dents marched in a protest against the pipeline and subsequent oil tankers anywhere on the northwest coast.
So, as so often in the past (the history includes the shutdown of the Skeena saw mill, the fall of the Japanese export market, a collapse in coal prices and forestry), investing in Prince Rupert real estate remains some-thing of gamble.
But this time it should be a sure bet, said Gordon Kobza of RealtyExecutives, the top commercial real estate agent in Prince Rupert.
“We are close enough to the bottom to see our toes,” Kobza said, and the real estate prices and potential bear this out. At Rupert Square, the city’s flagship mall, Wal-Mart has taken over the former Zeller’s space and will take an extra floor when it opens later this year. Mall managers, which will see the exit of the Fields’store this fall, are offering lease rates from $9 triple net.
Residents are in dire need of more retail, Kobza said, pointing out there is “no DQ, no
A&W, no KFC and no Boston Pizza. This town needs everything.”
On Prince Rupert’s main retail strip, sales signs and dark stores are common, and prices are through the floor. The site of the former daily newspaper (which folded last year) is up for sale at $299,000 for a large downtown lot and two buildings. A block away, Kobza has listed a newer two-storey retail and office building, 50 per cent leased, at $550,000. “This was $700,000 two years ago,” he said.
“You can buy a condo here for $40,000, even less,” said Baker, also a recent newcomer to Prince Rupert. Rents are around $500 to $600
for a two-bedroom house or condo. As Kobza notes, many of the rentals are owned by investors who rushed in during the last mini-boom back in 2004. “They still own them,” he
said ruefully. This explains why there has been no new multi-family construction in the city for three years.
But even Chivers sees that changing. She said the real housing demand in Prince Rupert now is new “executive”-level detached houses priced above $200,000 – the kind of homes that resource executives and engineers like – but this segment is in short supply.
It will take some time to convince some Prince Rupert residents and investors that the economy has truly turned around. As the lat-est census shows, many people have already turned their backs on what has been consis-
Population 12,500Average house price $175,000Average condo price $40,000Retail lease rates $9-$12 per square footWeb page www.princerupert.ca
tently a someday boom town. Between 2006and 2011, the population of Prince Rupert fellto 12,508 as more than 300 residents packedup and moved on. The 2.4 per cent decline isthe biggest in all of B.C. and the fifth-highestin Canada.
“This time is different, “Kobza said. With China, the prime minister of Canada,
the premier of B.C. and resource behemothsfrom around the globe all rooting for successin the northwest, he could be right. The princein waiting may have finally arrived.◆
“We are close enough to the bottom to see our toes”
✪
Terrace
1
PRINCE RUPERT
Kitimat
37
NORTHWEST BRITISH COLUMBIA
Pacific Ocean
WESTERN INVESTOR MARCH 2012 www.westerninvestor.com Interior/Northern British Columbia B7
OKANAGAN BUSINESS
OPPORTUNITIES“Live and work
where you play”
Exclusive $859,000
ALLYN BENTZColdwell Banker Horizon Realty
#14-1470 Harvey AveKelowna, BC V1Y 9K8
250-860-7500, [email protected]
www.allynbentz.com
BUSINESS AND INVESTMENT OPPORTUNITIES
– Suitable for investor or owner/operator. Includes land & buildings.
– 9 bedrooms, 7 bathrooms on spacious lot. Built in 2008. Has all amenities needed. Well-priced at
– 6100 sf bldg. Large yard – 2 Tenants – 8.5% Cap – 3 Tenants - Well Established
– Future Highrise expansion – Hwy Frontage – Secure Yard
COMMERCIAL BUILDINGS
DWIGHT VOSphone: (250) 554-4511
toll free: 1-866-456-0577 BEST-WEST REALTY LTD. KAMLOOPS
email: [email protected]
14 apartment condominiums to be built to complete the 38-unit Valley Vista on a two-acre sloping property. Excellent view of Shuswap Lake from one side, forest on the other. One-bedroom, 600 sq. ft., two four-plexes and a six-plex. Some suites are level entry. Can be rented. Quiet pets welcome. Modulars built by SRI Homes in Kelowna. Foundations are ready and waiting for the two four-plexes. All services and driveways are in.
SALMON ARM, B.C.Reduced to $551,000
SALLY SCALES [email protected] or 250-833-2129
TRADE or SALE FOR HOUSE
$330,000 three acre lot in OSOYOOSWill take house interior BC or sellReally cheap if cash sale.
Leave message
(250) 497 [email protected]
Kamloops North Shore CorridorAvailable 1 acre w/time limit.15,000 sq.ft. with rental shop
Includes house + mechanic garageZoned C1T traffi c 30 cars/minute
Quick sale buyer could receive a restoredblack 1917 Model T Roadster with only
2 hours of running time!
Phone/Fax 250-376-7826Cell 250-319-2101
Opportunity only knocks once!
MUST SELL!!!OWNER WILL CONSIDER ALL OFFERS!!!
100 Mile Realty
Wayne Walker 1-800-663-8426
RE/MAX Centre City Realty
Each offi ce is independently owned and operated
GEORGE Weinand 250-960-9556
KEN Goss 250-565-7653
— Your PRINCE GEORGE Commercial Professionals —
508 George St.8,200 sq ft fully equipped 250 seat restaurant. Previously ‘Tony Roma’s ‘ franchise. Completely renovated & equipped.
www.pgcommercial.ca
THINK REAL ESTATE...The Best Investment on Earth
4350 Handlen Rd – ‘Court Ordered Sale’5,525 sq ft concrete block building on .99 Acres. Zoned C-6.
1440 – 2nd Ave.Extremely well maintained quality 5,386 sq ft OFFICE building. Vacant possession June 2012.
5083 & 5075 Domano Blvd.FOR LEASE – Prime College Heights RETAIL/OFFICE space. Visually desirable location. Net Lease.
678 Vancouver St.FOR LEASE – 1,985 sq ft of top quality second fl oor offi ce space. 6 offi ces, meeting room, lunch room & common area. Net Lease.
1921 Upland St.FOR SALE – Exceptional 12 unit apartment building. Good location, well maintained property. 8% Cap Rate.
9080 Penn Rd.FOR LEASE – 25,660 sq ft quality warehouse located in the Danson Industrial Park.
1108 Boundary Rd.FOR SALE - 9,000 sq ft cement block building on 2 Acres, fenced compound. Building has been renovated & updated. Land has been graded for proper drainage. 3-phase power.
1550 – 1st Ave.ONE OF A KIND OPPORTUNITY. 3 concrete block warehouse on 3 Acres. 44,080 sq ft total space. Well maintained with 11 loading doors, 13 O/H doors, 3 phase power & highway access.
1437 North Fraser Dr. – Quesnel FOR SALE – Court Ordered Sale 38.5 Acre property. 604 sq ft stand alone offi ce. Main 3,498 sq ft concrete block 4 bay truck shop, with 1,628 sq ft addition attached. A 2,160 sq ft storage building with a 648 sq ft wood frame storage shelter. A sand/gravel business historically operated from this site, however no licensing permits have been confi rmed.
9543 & 9565 Anzac Cres.FOR SALE - 1.88 Acres. Zoned M-2. Industrial lots, cleared, level & serviced.
760 Kinsmen Pl.New fi rst-class building in prime location. Ready for occupancy September 2012. Main fl oor 4,300 sq ft available and daylight basement 2,000 sq ft. Zoned C-4.
2222 Balsam Ave. – Quesnel,B.C.Highly visible fi rst class 12,177 sq ft main building. Also has warehouse, two mini-storage warehouses & caretakers mobile home.. Highway access o
2977 Ferry Ave.FOR SALE – 0.8 Acres on corner of Ferry Ave. & Ospika Blvd. C-6 zoning.SOLD
REDUCED
F O R S A L E
34 UNIT APARTMENT BUILDING
Cranbrook, B.C.
$2.7 Million/OBO
250-992-2048
B8 Northern British Columbia www.westerninvestor.com MARCH 2012 WESTERN INVESTOR
NORTHEAST BC REALTY Ltd. Phone 250 785 4115
“Investing Our Energy In The North”
Located at 10220 101 Avenue Fort St John BC V1J 2B5 www.NEBCRealty.com F: 250 785 4120
RON RODGERS - OWNER / MANAGING BROKER Email: [email protected]
RARE OPPORTUNITY - FORT ST JOHN, BC
Light Industrial Package located by the city limits with access to major arterial
roadways...ideal if you are looking for an all-in package; housing, office space, shops,
warehouses! All within reach of City amenities.
9.56 Acres - 2 industrial shops (7183sf & 7000sf +/-) ASKING $2,395,000 MLS® N4505211
5.73 Acres - industrial site (modular home/office)
ASKING $549,000 MLS® N4505213
5.72 Acres - 1159sf house & 42’x78’ shop ASKING $980,000 MLS® N4505212
PACKAGED ASKING PRICE $3.58 Million
Call Ron for information package or to arrange to view
CONGRATULATIONS RON RODGERS
For achieving 2011 MLS®
Top Commercial Producer as recognized by
BC Northern Commercial Council (based on top dollar sold and number of units sold)
Ron has been a long standing member of the
Canadian Commercial Council of Realtors and member of the BC Northern Real Estate Board and
BC Northern Commercial Council.
NEBC ©2010—2012
#133128: NEW STRIP MALL has 4 available spaces left for lease, 1,750 sq ft each. Great location on 8th street between Tim Horton’s & The Brick. Lease rates start as low as $16/sq. ft.Start your business here. Strip mall is 10,000 sq. ft.
Also for sale at $1,800,000
FOR SALE OR LEASE 5040 sq ft building on busy Alaska Ave. Many uses, drive thru availability, lots of parking, next to government liquor store. Owner will consider dividing building into two rental units.Priced at $795,000 or $16.00 per sq ft to lease.
FOR LEASE 3200 SQ FT SHOP with an additional 1680 sq ft of office are on upper floor. 2 doors 12x14 into 40x40 shop. Zoned M2 (light industrial) on .23 of an acre. Asking $16.00/sq ft.
#131876, 130050, 131875 - HIGHWAY
COMMERCIAL/INDUSTRIAL LAND Situated across from the EnCana event centre, Chances casino and new Holiday Inn this is a very desirable location. Total of three lots each approx 4.5 acres each, excellent visibility and access. Priced at $450,000 - $500,000 each
#129593: COMMERCIAL BUILDING WITH BEER AND WINE STORE for sale (gross sales of $2,000,000). Great location in Dawson Creek, also 40 apartments, bar/restaurant area and commercial space. Asking $3,500,000. Call for more info.
L A N D
#129635: RESIDENTIAL DEVELOPMENT LANDS, one parcel of 25 acres on the north west edge of Dawson Creek for sale, superb location for residential homes, the timing is right as we need more residential lots for our busy market place. Asking $625,000
#129877: ONE ACRE OF MULTIPLE RESIDENTIAL LAND suitable for 37 unit apartment or condo complex. Across from the hospital in a prime residential area of Dawson Creek. $179,000
#127836: SUBDIVISION FOR MOBILE HOMES! Total of 39 mobile lots are possible on this 4.6 acres, zoning in place, some services are already in, 3 lots have been subdivided. Call for more info. Asking $300,000#127441: 80 ACRES OF INDUSTRIAL LAND with highway frontage, railway tracks, water and sewer in the City of Dawson Creek. Asking $31,250 per acre
#135241: COMMERCIAL LAND NEXT TO THE GOLF COURSE. Great location and potential! 10.33 acres that are zoned C-3 (highway commercial) between the driv-ing range and regional district offices, close to a large campground. Lots of options, borders the Alaska High-way. $1,000,000
WILL BUILD TO SUIT - AIRPORT ONE ACRE LOTSDeveloper has 3 one acre lots in a row at the airport with highway frontage...will build a 5000 - 7,000 sq, ft. pre-engineered steel shop, provide a graveled and fenced yard with a 5 year lease starting at $ 14.00 per sq. ft. for the shell. Also willing to build and sell to tenant. One lot now leased and sold. Only 2 left!
#127066: LOCATION, LOCATION, LOCATION 0.74 acres at the intersection of 17 Street and Alaska Highway. Ideal location for strip mall, service station, etc. $295,000
RE/MAX DAWSON CREEK REALTY 1-888-214-5871DAWSON CREEK COMMERCIAL EXPERTS
D A W S O N C R E E Kwww.dawsoncreekrealestate.ca
TOM MORAN [email protected]
LLOYD SMITH [email protected]
#129952 - FOR SALE OR LEASE Multi purpose building with 2 units now leased leaving 11,000 sq ft. available. Upgrades include updated roof and furnacesAsking price is just $397,000
#130029 RETAIL STOREFRONT on 102nd Ave. for sale, 3500 sq. ft on a corner location, paved parking, good visibility can be used for offi ce, retail, or your own small business. Owner will consider leasing as well. Reduced to $119,000 as is
#130010 - WELDING / MACHINE SHOP for sale Includes 12’ door, 13’ ceilings, 3 phase power, 23o Volt/400 amp service. Gravel yard, 100 sq. ft. offi ce with shower & bathroom. Fire hydrant, 2 overhead cranes. $220,000
#129257: THE SOUTH PEACE UNITED CHURCH IS FOR SALE. OVER 11,000 SQ. FT. - Sanctuary, hall, kitchen, offi ces, and support services. Excellent corner location, zoned commercial, very good condition, ready for an offi ce or residential conversion. $495,000
#133401 - BUSINESS OPPORTUNITY located on the east side of Dawson Creek. Belsum Auto Recyclers Ltd has a proven track record and shows a good return. In-cludes 6.5 acres of prime industrial land on Hwy #49, a heated main shop with 3200 sq.ft. and an adjoining 2400 sq. ft. building used for stripping vehicles. Lots of inventory, and equipment includes 3 forklifts and a skid steer. Asking $1,200,000 for the land, buildings, and turnkey business with inventory.
#130083 - Prime location on Alaska Ave. in Dawson Creek - close to all retail and downtown and still on main artery through the City. Total of 17,000 sq. ft. of new space and can be divided into whatever you need. Popular new restaurant now open, lots of parking.
#129953 - RETAIL BUILDING Great location on 10th St over 3,000 sq ft on main and additional 3,000 sq ft on second floor, located next to Scotia Bank. Ground floor now leased out to only video rental company in Dawson Creek. Asking price of $375,000
#132673 - In the centre of the City close to the traffic circle on Alaska Highway...1.55 acres of flat land with all new services to the property and bordered by 8th street and the paved roadway to the new apartment building. Excellent location, commercially zoned, will builld to suit. $290,000
SOLD
SOLD
Remax Action Realty 1991 [email protected]
[email protected] Toll Free : 1-888-785-5520
FORT. ST. JOHN
The Power Of Partnership!
KATHY MILLERCURTIS ROBINSONPERSONAL REAL ESTATE CORPORATION
8219 - 100 AveThis building has great access from 100th Street with easy access parking. There are well established
businesses in the building bringing traffi c to the location. 1850 square feet includes washroom/shower facilities. $15.00/ sq. ft. + NNN MLS# N4505244
1850 SQ FT LEASE SPACE
PRIME LEASE SPACE
10215 - 100th StreetA total of 10,290 sq. ft. of prime downtown
core retail or offi ce space available. High visibility & easy access ensures stability. Landlord willing to devise space to fi t your needs. $13.00/sq ft + NNN MLS# N4505306
LOCATION, LOCATION!
10123 - 100th StreetA prime downtown location, right on 100th
Street, just under 2500 square feet divided into 2 separate retail spaces, both sides currently leased
$299,900 MLS# N4504949
FOR SALE OR LEASE
PROSPECT PARK LOCATION
10711 - 91st Ave Updated offi ce space, new windows, doors and updated forced air furnace. 1100 sq. ft. of offi ce space attached to 3250 sq. ft. of shop. + 6500 sq. ft. of additional shop space available. $15.00/sq ft + NNN - MLS# N4505100
5.238 ACRES IN A GREAT LOCATION!
Lot 11 - 87A AvenueM-2 zoning, easy access to the East bypass road make this a great place to build a shop and set up business.$1,128,750 MLS# N4505220Lot 12 also available $1,128,750 MLS# N4505221
OPPORTUNITY KNOCKING!
8224 - 93rd Street1050 sq ft of offi ce w/hardwood fl oors. Front reception & display
area & the shop with 3 bays, 1 is drive through/wash bay. Radiant heat, mezzanine area, 14’ overhead doors. Fenced compound all on city services.
REDUCED $810,000 - MLS# N4504836
For sales or leasing inquiries please contact:
Tel: Fax:
DONNAANDNYLA.CA
D A W S O N C R E E KL U C R AT I V E B U S I N E S S O P P O R T U N I T YWell established Towing and Recovery business in Dawson Creek BC. "Exceptional Towing & Recovery Ltd." 150 X 150 Chainlink fenced, grave/asphalt compound, 1 bay heated garage, dispatch/offi ce unit w/services, storage shed. Zoned M-2 Light Industrial. All Equipment included with list available upon request.
MLS® 134219 Price $895,000 For more info call: Nyla Lepine & Donna Cooper
250-784-4044 [email protected]@remax.net DAWSON CREEK REALTY 250-782-8181 “independently owned and operated”
KITIMAT
CALL 604-725-4872 or 250-826-2284EMAIL: [email protected]
20-25%+ ROI/Cash on Cash!4-Plex for Sale - $259,900
Turn Key, fully managed unbelievableInvestment opportunity in the
Next Boom Town!
This Deal won’t last long!
WESTERN INVESTOR MARCH 2012 www.westerninvestor.com Northern British Columbia B9
Suburban offices going dark Approximately two million square feet of
suburban office space is sitting vacant, representing more than two-thirds of all the vacant offices in Metro Vancouver, accord-ing to a report from commercial realtor Avison Young.
Among the worst hit is Richmond, where 785,628 square feet of space is empty, includ-ing nearly 70,000 square feet of sublease space that has gone dark in the past year.
Surrey, New Westminster and Burnaby are also posting double-digit office vacancies, with 966,000 square feet of empty space in Burnaby alone.
The suburban slowdown is in contrast to downtown Vancouver, which is seeing the highest lease-up of office space in five years. The downtown vacancy rate has plunged to 3.9 per cent, down from 5 per cent a year ear-lier, Avison Young reports.
Natives vote for Delta mega-mallA bid to build B.C.’s largest shopping
complex on former Agricultural Land Reserve near the Tsawwassen ferry terminal in South Delta appears a done deal after members of the Tsawwassen First Nation voted to proceed.
A proposed two malls would total more than 2.3 million square feet. This would be larger than the Metrotown Mall complex in Burnaby, the largest shopping centre in the province. The Tsawwassen First Nation voted more than 95 per cent approval on the two proposals, which don’t require Delta’s approv-al, on January 18.
Ivanhoe Cambridge and the Property Development Group plan to develop the shopping and office space just off Highway
17 at 52nd Street. The 180-acre site had been part of the Agricultural Land Reserve but was pulled out when it became part of the First Nation’s treaty settlement lands.
Strata changes spook owners Owners of commercial stratas may be
forced to deal with a problem traced to poorly managed residential condo buildings.
“The [B.C.] government sees no difference between commercial or residential stratas,” said Neil Hamilton, senior property adviser with MacDonald Realty Ltd. in Vancouver, who has been monitoring changes to the B.C. Strata Property Act, which come into effect March 13.
The changes mean that every strata corpo-ration will have to file a “depreciation report” every three years, outlining the current con-ditions of the strata buillding, and also file and continually update a 30-year budget for repair, maintenance and upgrades. The first depreciation reports must be filed by the end of 2013.
The changes were forced because some B.C. residential strata corporations, the first of which are now 40 years old, have failed to keep contingency funds at levels required under the Strata Property Act.
“The government is trying to clean up the ongoing upgrade, repair, maintenance process in B.C. [residential] stratas,” Hamilton said. “It is for consumer protection.”
The changes could raise strata fees, he added, as strata corporations pay to prepare and update the reports, which could run as high as $50,000 for a large condominium building.
A strata corporation will be allowed to exempt itself from the regulations by a 75 per cent vote of members, with each exemp-tion good for 18 months. Also, buildings with five or less units – which can be typical in a commercial strata building – are also exempt.
But strata owners who opt for an exemption may wish they hadn’t, said Ed Wilson, part-ner with the Vancouver law firm of Lawson Lundell LLP, who has advised the provincial
Developers are preparing to launch hundreds of new
homes and local municipalities are redrafting bylaws in preparation for the new $1.4 billion Evergreen Line that will run from Coquitlam to Port Moody starting in 2016.
An estimated 1,500 new homes, mostly condominiums, are either planned or under construction along a transit route that is expected to handle 70,000 passengers a day. Studies show that homes within 400 metres of a transit station can be worth up to 20 per cent more than those further away, according to Howard Steiss, president of Red Dot Real Estate Marketing Ltd. of Vancouver, which is handling sales of an investor-friendly condo project close to an Evergreen station.
The City of Coquitlam got in front of the transit push earlier. Three years ago, the city increased density zoning to allow three or even four small houses – up to 700 square feet – on a typical large lot in central Coquitlam neighbourhoods, and recently extended it to new developments.
In January, city council approved a rezoning bid that allowed Morningstar, a residential developer, to include a small second detached house on a single lot, and include rental suites above garages.
Last month, Coquitlam also passed a rule for the Southwest Coquitlam Area Plan that will allow carriage homes and garden cottages as well as triplexes and four-plexes. The move will increase density – and potentially property values – in established neighbourhoods such as Austin Heights, Lower Lougheed and Burquitlam. Carriage homes will only be allowed on properties currently zoned RT-1. Such owners wanting to build an accessory unit won’t have to go to public hearing – only apply for a development permit.
In its reaction to the Evergreen Line, Port Moody is lifting no-growth restrictions and this spring will start a new official community plan to densify Moody Centre. The city had developed Newport Village and Klahanie, but halted growth after it resulted in heavy traffic through the streets of the community.
Proposed Burquitlam Station for the Evergreen Line.
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government on real estate legislation.Wilson said the depreciation reports will
likely be requested by potential strata buy-ers and mortgage lenders. “If you don’t have a report, a buyer may not want to buy and a lender may not want to lend,” Wilson said. Even strata owners in buildings with five or less units, which are automatically exempt, may want to file the reports for financing and insurance purposes, he added.
The changes also make it mandatory to
attach a depreciation report to the existing disclosure form when a strata unit is being sold, Hamilton noted.
The depreciation reports should also con-cern commercial strata investors who rent their units to tenants, said Wilson. “The ques-tion is, who is responsible for paying for the repairs, the tenant or the landlord investor?” Commercial leases vary, with some saying the tenant is responsible for special levies, while others do not, he explained.◆
Elaine Kienzle250 960-8769www.elainekienzle.com
Invest inPrince George
Highway Exposure - .57 acre $739,000near Costco, Winners & Future Shop3664 sq ft building plus part basementzoned M3 - Business Industrial
Two waterfront propertiesIdeal for recreational/residential development
Not in the ALR - Highway accessParcel 1 - 26 acres, 1450’ of lakefront $295,000Parcel 2 - 55 acres, 1650’ of lakefront $495,000
Subdividable 7.32 acres $545,000located along the Nechako River andonly minutes to downtownnicely treed, existing driveway & hydro
B10 Northern British Columbia www.westerninvestor.com MARCH 2012 WESTERN INVESTOR
Reduced to $819,000 (sold in 2007 for $1,000,000).
Sicamous, BCMulti-Unit Residential
Email: [email protected] or
call: 1-800-658-2345* Financing available O.A.C.
TERRACE BC
Eight private offi ces, large admin area, inviting reception area. Lunchroom. Private paved parking. Lots of Storage. HE furnace. Cat5 wired. Handicap access. $375,000
www.cls.ca MLS # 4505003
Erika Langer
1-877-635-2404
Offi ce Building FOR SALE
Royal LePage Terrace
Subs
cribe
www.westerninvestor.com
CALL NOW 1-800-661-6988
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APRIL AD DEADLINE: MARCH 12THReport: Franchise/Small BusinessLand valuesSocial media sellingFranchise NewsLifestyle PropertiesRegional Roundups:BC: AbbotsfordAB: AirdrieMB Spotlight: Flin Flon
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WESTERN INVESTOR MARCH 2012 www.westerninvestor.com Alberta B11
CURRENT OFFERINGSconsisting a variety of suites, well located with highway exposure and surrounded by a substantial number of conveniences, continued superb revenue performances that yield substantial N.O.I. that ultimately result in excellent return on equity and investment.
in superb condition, continuously operates at a very high occupancy level that yields excellent revenues, immediate possession, an excellent buy at
, strategically well placed in a Premier location, completely up-graded, significant mortgage financing, very strong revenue performances; a good investment with a big up-side potential going forward.
well located in a prime commercial area a dynamic city, the stellar performance of its operation is attested to by its continuous outstanding growth in revenues, plus substantial up-side potential.
, featuring indoor Swimming pool among its other amenities, very well located on a service road that gives it highway exposure, outstanding Revenue/occupancy performances.
with potential uses for highway commercial and residential in a town with tremendous growth potential going forward, very reasonably priced at
A New Deluxe 2-Bedroom Condo Consisting of 2-bath rooms, fireplace, cable among many other superb Features, plus the many amenities such as swimming pool, sauna, fitness Center, indoor parking to name a few within the Building Complex’ Immediate possession available, a great buy with cash to an existing mortgage of $330,900 more or less, at the
We are looking for 1st or 2nd mortgage lending
opportunities for:
CareVest has been providing its industry leading lending services since 1994. We provide integrated real estate services specializing in the investment, financing and syndication of real estate mortgaging throughout Western Canada and Ontario.
1-877-509-0115 www.carevest.com
We have funds available!
Prime Real EstateSylvan Lake, Alberta
Call CARL STEPP cell: 403-358-9300www.sylvanlakehouseguy.com
RE/MAX real estate central alberta
RESORT: Asking $4.0mil60 Acres in Rocky Mountain, 6 months open
GAS STATION: Asking $2.19milIn store sale only $2.45mil (with Lotto $450k)
MOTEL: Asking $1.6mil51 Rooms, Sale $500,000 in Vegreville, AB
MOTEL: Asking $3.79mil 38 rooms in Edmonton
MOTEL: Asking $1.79mil45 rooms in Pincher Creek
CAR WASH: Asking $2.95milSale $600,000 I hour from Edmonton
Thomas Koh (CIR) 403-680-9827
Cedar Villa Motel, Foremost, AlbertaAn excellent opportunity to purchase a very
lucrative 13 room motel. 1053 sq ft attached house
with 4 bedrooms and 2 bathrooms. Laundromat
with 2 coin-operated washers & 2 coin-operated
dryers. Offi ce area. Laundry room includes 2 new
washers, 3 dryers. 20x15 storage shed & 10x10
garden shed. Price includes stock.
$535,000 (MLS® 17537)
Brent Schlenker 403-580-0222www.brentschlenker.com
GREAT BUSINESS OPPORTUNITY
DUSTY SMITH TEAMSUTTON LANDMARK REALTY / RED DEER, AB
CENTRAL ALBERTA CAMPGROUND OPPORTUNITIES
LAKEFRONT! 403-347-0744
KACIKEWIN CAMPGROUND & CABINSOnly 40 min. west of Edm. 10.00 +/- Fully treed acres. 89 beautiful lakefront sites. Fully rented last 9 yrs. Store/Manager's residence. Room for expansion! Large sandy beach area. Located west of Alberta Beach on Lac Ste. Anne.
LAKEFRONT BEAUTY ONLY 90 MINS FROM CALGARY
Chalet style cottage or year round home on a quiet cove. Absolutely loaded with upgrades and features. Walkout basement. Stunning views from all decks. Private Parklike yard with paved drive and mature landscaping. Excellent waterfront depth and dock system. Pine Lake is famous for its sandy bottom, excellent boating, watersports and fishing opportunities. One of a kind property guaranteed to impress. Only 90 mins from Calgary and 25 mins East of Red Deer. More info at www.pinelakeproperties.ca
$3,250,000
$829,900$829,900
ROCKY PARKCIR REALTY
403-681-7512www.rockypark.ca
BUSINESS & INVESTMENTS
MOTEL IN SUNDRE * Asking: $2.59M * SALES: $752,047 * NOI $366,681 * 25 UNITS * 15 VLT’S
MOTEL IN ST. PAUL * Asking: $1.15M * Sales: 358,231 * NOI: 236,484 * 53 Units
MOTEL IN MOSSLEIGH * Asking: $599,500 * Sales: $160,000 * 17 Units + 14 RV parking stalls
GROCERY STORE IN OYEN * Asking: $1.29M * Sales: $2.6M * Living quaters included
STRIP MALL IN CARSELAND * Asking: $2.2M * NOI: $140,400 * Building size: 12,600 sqft
RETAIL BUILDING IN CALGARY * Asking: $669,500 * NOI: 35,800
LIQUOR STORE IN ELNORA * Asking: $249,000 * Sales: $400,000 * Living quarters included
LAUNDROMAT + DRY CLEANING IN ROCKY MOUNTAIN HOUSE * Asking: $369,900 * Sales: $293,501 * NOI: $144,480 * 12 Washers, 13 Dryers * Size: 3,164 sqft * Rent: $4,176
LEASING OPPORTUNITYOFFICE/COMMERCIAL
Modern building up to 180002ft with 80+
parking stalls. One hour North of Calgary airport with high visibility and 2 minute access to QE II Highway. High traffi c volume $10 /sq ft NNN
DON WILSON 403 559 7781 [email protected]
BOWDEN ALBERTA
MODULAR HOME c o m m u n i t y
For Sale• 150+/- acres
• Within 20 minutes from Calgary
• Approx 1400 modular home units
• 160 unit assisted living site
• ASP & zoning approvals near completion
• Active adult community with clubhouse/activities center
• Ready for development this spring
• Great price
Call for more information
Steve SeilerAlberta Independent Realty
Airdrie, AB
403-818-9837
B12 Alberta www.westerninvestor.com MARCH 2012 WESTERN INVESTOR
INVESTMENT SALES
PRIME WEST EDMONTON LAND – RA7
CONTACT JEFF McCAMMON / DOUG BAUER OR DUSTIN BATEYKO
QUESNEL, BRITISH COLUMBIA
$2,950,000
CONTACT HOWARD McCANN /DOUG FOGG OR ADAM MARTINSON
MULTI-FAMILY OPPORTUNITIES
Apartment product is in demand! Please call for our opinion of value of your building!
CHRISTOPHER KAMPHIUSor RAPHAEL YAU
COMMERCIAL CONDOS
CONTACT BURKE [email protected]
DEVELOPMENT OPPORTUNITIES
+/- 19,701.20 SQ FT: Vacant serviced site in NE Edmonton. Zoned CB1 (Low Intensity Business Zone) ......................................... $395,000+/- 0.947 ACRES: in Valemount, BC. Zoned C3 (Service Commercial) ................................ $49,500+/- 1.05 ACRES: in Valemount, BC. Zoned HC (Highway Tourist Commercial) .............$455,000+/- 3.84 ACRES: Fronting St.Albert Trail, Zoned IB (Industrial Business) ........................ $3,500,000+/-13,812 SQ FT: 8204 – 106 AVENUE………. .......................................................$495,000+/- 0.31 ACRES: high visibilty location on 111 Avenue .......................................................$610,000
CONTACT JEFF MCCAMMONOR DOUG BAUER
WESTLOCK MALL, WESTLOCK, AB
CONTACT DAVID COONEY / DOUG FOGG OR HOWARD McCANN
DUGGAN MALL, CAMROSE, AB
MULHURST BAY CROSSING
INDUSTRIAL BUILDING FOR SALE
CONTACT JEFF McCAMMON OR DOUG BAUER
SPRUCE GROVE, DEVELOPMENT LAND
CONTACT DOUG FOGG OR MARK McCANN
OFFICE BUILDING FOR SALE
CONTACT IAN NEWMAN
FORT MCMURRAY, AB
CONTACT DOUG RAE
MERRITT, BRITISH COLUMBIA
CONTACT [email protected] [email protected]
EDSON LANDING - $3,950,000
CONTACT HOWARD MCCANN /DOUG FOGG OR ADAM MARTINSON
FORMER WAL-MART, MEDICINE HAT
CONTACT HOWARD OR MARK McCANN
www.cwedm.com
CUSHMAN & WAKEFIELD EDMONTON2300 Sunlife Building, 10123 - 99 Street, Edmonton, AB T5J 3H1
PENDING
SITE
604-669-85001-800-661-6988
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WESTERN INVESTOR MARCH 2012 www.westerninvestor.com Alberta B13
• 3000 sq ft character office space - Victoria Park• 4000 sq ft Penthouse office space - 17th Ave S.W. Calgary• SW Calgary neighbourhood – Deli $69,500• RV Repair Business, Calgary - $500,000• Neighbourhood Shopping Centre - $4.2M• Buyer Representation for Alberta Multi-Family Properties• Buyer Representation for Golf Course & Resort DevelopmentEmail: [email protected] to Receive Our Current Alberta Apartment Report!
Bus: (403) 240-4000www.toolepeet.com
4110 - 79 Street NWCalgary, Alberta
10,250 Sq. Ft. Office Building
Calgary OfficePhone: (403) 214-2344 FAX: (403) 214-0244
BUILT ON THE POWER OF OUR NETWORK. OVER 375 OFFICES WORDLWIDE.
Shane OlinTel: (403) 708-9086
FOR SALE
602 - 12 Avenue SECalgary, Alberta
7,000 Sq. Ft. Downtown Site
4337 Macleod Trail SCalgary, Alberta
12,000 Sq. Ft. Shopping Centre
Jim CourtneyTel: (403) 291-8873
Shane OlinTel: (403) 708-9086
Tim AndersonTel: (403) 291-8866
[email protected][email protected]
GREAT RETAIL SPACE FOR LEASECentre 89, Calgary
Jim BalfourTel: (403) 291-8860
Tim AndersonTel: (403) 291-8866
[email protected][email protected]
HOTEL - FULL SERVICESOUTHEASTERN ALBERTA
5 MOTELS PRICED UNDER $700,000
BUSINESS FOR SALE
FOR SALE
Westmount Village Phase 1
24,175 Sq. Ft. Shopping Centre
SHOWROOM/WAREHOUSE BAY FOR LEASE
Bay D, 4301 - 9 Street SE, Calgary
Infinity Mortgages and Loans Inc. specializes inMulti residential, commercial, industrial, retail, hospitality and development. We provide financing ranging from bridge loans to long term take out. Whether acquiring, refinancing or constructing, our experts have the experience to finance your project. Canada wide and international service available.
Commercial Funds Mortgage available
403-770-0224
INDUSTRIAL LANDw/BUILDING FOR SALE
Asking $2,532,500 - Ponoka, Alberta11.55 acres, 8 individual lots with a 5000 sf unfi nished
panelized structure on Lot #10 (Lot #10 - 15 are 6 contiguous lots; Lots 19 & 20 are 2 contiguous lots)
Located at 49th Street and 60th Avenue in the north Industrial Park within the town limits.
Site is provided with all municipal services, and a railway spur connection to the main CPR line between Calgary and
Edmonton. Recent rail crossing was completed by town of Ponoka.
Excellent manufacturing site or stage area for Oil Sands or other Northern Industrial projects.
Lots are for sale individually or as a whole parcel. Owner may sell entire parcel within the Corporation with tax loss advantage to purchaser. MLS# C1019384, C1019385, C1019387, C1019388, C1019389, C1019390, C1019391 and C1019392
Mary Yuen-Sears, RealtorSUTTON GROUP - CANWEST
#1, 555 Hawkwood Blvd NW, Calgary, AB T3G 3K2
SOLDSOLD
SOLD
B14 Alberta www.westerninvestor.com MARCH 2012 WESTERN INVESTOR
Commercial,Industrial & ResidentialFinancing
P (403) 290-1990F (403) [email protected]
Obtaining Mortgages and Loans can be made Easy &
Simple!
Contact:Frank Hickey
MOTELS & HOTELS≥ HARDISTY New 44 unit Motel.≥ NAMPA, ALBERTA in busy boom town, 16 unit motel,
100 seat lounge, VLTs, liquor store and restaurant. PRICE REDUCED TO $990,000!
≥ CAMROSE ALBERTA 68 room, full services Hotel. REDUCED - NOW $4.0M.
≥ CAMROSE EAS T 12 miles, 8.03 acres, 6660 sq. ft Commercial use oil service shop with a beautiful 2600 sq ft. modern residence. A park-like yard. ASK $1.2M.
≥ CAMROSE 4-Plex – reduced! Located in a quiet residential south west area. Individually titled. Fully leased. ASKING $429,000.
email:[email protected]
FOR MORE INFORMATION CALLOREST: 780-679-8353 FAX: 780-672-1897
CAMROSE, ALBERTA
ALBERTA IS AGAIN MOVING! ≥ FORESTBURG Pizza & Steak house. Restaurant
seats 60, Loung 30, with 3 VLTs & 2 cash machines. A very profitable operation. Full line of stainless steel equipment & recently upgraded fixtures. Living quarters as part of premises. ASK $565,000.
≥ VIKING Viking Hotel, a renovated and up graded operation. 12 guest rooms, a managers suite, tavern, & restaruant. Owner retiring. ASK $159,000.
≥ ANDREW, AB Liquor store. 2064 sqft. Brick finished bldg. on main street. (Former ALCB) Financials available to qualified buyers. ASKING $285,000.
≥ DAYSLAND Bottle Depot – Building, all equipment, and shelving with additional 2 lots. Do a drive by. Phone for details.
PEACE RIVER, ALBERTA FOR SALE: COMMERCIAL BUILDING
Presently leased - some Vacancies available.37,000 sq. ft. on 2.99 acres. Includes commercial Kitchen, banquet roomplus smaller offices.Many upgrades and renovations. Downtown location - plenty of parking. Offered for $2,500,000
Thiry Kelemen 780-831-8804 [email protected]
For Further Information and Details, Call
RE/MAX GRANDE PRAIRIE
NORTHERN ALBERTA FULL SERVICE HOTEL FOR SALE
81 rooms and suites - on 12.5 acres.Highway frontage - lots of parking.76 seat coffee shop, 135 seat dining room, 80 seat pub, 160 seat Sports Bar with VLT’s.2 homes for staff housing. Offered for $16,000,000
YOURADVANTAGEIN ALBERTASHOPPING PLAZA, HOTEL IN BIG CITY
Hotel: $1,110,695; Rental: $513,253; Others: $669,734
MONEY MAKING FRANCHISE MOTEL
LIMITED SERVICE FRANCHISE MOTEL
LIMITED SERVICE MOTEL
LIMITED SERVICE FRANCHISE MOTEL
LIMITED SERVICE MOTEL
MOTEL IN B.C.
FRANCHISE MOTEL IN SOUTHERN ALBERTA
MOTEL WITH RESTAURANT IN SK
FULL SERVICE HOTEL NEAR CALGARY
MOTEL WITH RESTAURANT
GAS BAR IN SK
GAS BAR / CAR WASH
GAS BAR, C-STORE AND A&W
CAR WASH NEAR CALGARY
GAS BAR IN SK
SHOPPING MALL
MAXWELL www.leechoonho.com
FRANCIS LEE, Associate Broker
For More DetailsTel: 403-680-6130Email: [email protected]#20, 8180 Macleod Tr. South, Calgary
ALBERTA'S INTERNATIONAL REGION109 Acres of Potential Light Industrial
131 Acres, Zoned Light Industrial
2 Industrial Buildings
All located in the International Area
54 Acres
2-72 Acre Parcels
148 Acres
157 Acres
HUGE DEVELOPMENT POTENTIAL, close to EDMONTON International Airport, NISKU Business
Park and LEDUC'S expansive growth to the west
Call ZDENKA TURNER 1 - 8 7 7 - 9 8 6 - 4 7 1 1
Call WAYNE SCHNICK 1 - 8 7 7 - 9 8 6 - 4 7 1 1
HAIDA REALTY
-$195,000
$235,000
$575,000
Ray @ 403-627-8084
FOR SALE BY OWNER Southwest Alberta
Tyler R. ShannonVice President, Investment, AssociateDirect Tel: 403 508 6471Mobile: 403 681 [email protected]
1410, 715 Fifth Avenue SW Calgary, Alberta, T2P 2X6
LENDER DIRECT FOR MB, SK & AB PROPERTIES
RESIDENTIAL & COMMERCIAL
CALL 1 866 405 1228
EQUITY LOANS
WESTERN INVESTOR MARCH 2012 www.westerninvestor.com Alberta B15
INVESTMENT OPPORTUNITIES FROM BARCLAY STREET REAL ESTATE
EDMONTON OFFICE 202, 2520 Ellwood DriveEdmonton, AB T6X 0A9 p: 780 463 3332
CALGARY OFFICE Suite 200, 407 – 8th Avenue SWCalgary, AB T2P 1E5 p: 403 290 0178 f: 403 262 1314
SOLUTIONSCOMMERCIAL REAL ESTATE Property
Management Office, Retail, Industrial
SALES AND LEASINGLand, Investment
SALES
WWW.BARCLAYSTREET.COM
FOR SALE
1402-1404 9 AVE SE, 1412-1418 9 AVE SECalgary, Alberta
For more information or to view, please contact:
RYAN [email protected]
p: 403-290-0178 f: 403-262-1314
Prime development site in desirable community of Inglewood.Site size – 32,495 square feet.Existing holding income.
DEVELOPMENT SITE IN INGLEWOOD
FOR SALE
2002, 2008, 2012 and 2016 34TH Ave SWCalgary, Alberta
For more information or to view, please contact:
RYAN [email protected]
JEFF [email protected]
p: 403-290-0178 f: 403-262-1314
Site size: 23,000 sq. ft. Land use: DC2D2012 (C-COR1 guidelines), FAR 2, 4 storeys / 16.5 metres
COMMERCIAL DEV. SITE IN MARDA LOOP
34 Avenue SW
19 Street SW
FOR SALE
For more information or to view, please contact:
RYAN [email protected]
p: 403-290-0178 f: 403-262-1314
A Class office improvements.Owner user turnkey office opportunity.Income generating residential suites on the second floor.Close to LRT and numerous amenities in Kensington area.
OWNER USER OFFICE BUILDING
429 11TH STREET NWCalgary, Alberta
NEWLISTING
NEWLISTING
WHEN LOCALMATTERSEXPERTISE
FOR SALE
224 15TH AVENUE SWCalgary, Alberta
For more information or to view, please contact:
RYAN [email protected]
p: 403-290-0178 f: 403-262-1314
Proximity to 17th Avenue SW, one of Calgary’s most unique and vibrant shopping and commercial districts, provides convenient access to various amenities including cafés, restaurants, shops and fashion boutiques.
OWNER USER OFFICE BUILDING
For more information or to view, please contact:
RYAN [email protected]
p: 403-290-0178 f: 403-262-1314
3,459 sq. ft. of character office premises located on a prominent 6,000 sq. ft. site.
The property is located in Calgary’s vibrant 4th Street SW Residential/Commercial District - Cliff Bungalow.
FOR SALE
505 21ST AVENUE SWCalgary, Alberta
OWNER USER OFFICE BUILDING
For more information or to view, please contact:
GREG [email protected]
p: 403-290-0178 f: 403-262-1314
refrigerated processing area (140 ton)
on-site
storage facility
PRICEREDUCED
FOR SALE
35,381 SQ. FT.4043 Brandon Street SE, Calgary
INDUSTRIAL FACILITY
B16 Alberta/Recreational Real Estate LIFESTYLE PROPERTIES MARCH 2012 WESTERN INVESTOR
www.apartmentsinedmonton.comSutton Central Commercial - AN INDEPENDENT MEMBER BROKER
APARTMENT OPPORTUNITIES
(780) [email protected] Gill
6 SUITES, NORTH - $670,0009 SUITES, DOWNTOWN - $855,00012 SUITES, CONCRETE, WEST END - $1,272,00012 SUITES, DOWNTOWN - $925,00015 SUITES, SOUTHSIDE - $2,325,00015 SUITES, WEST END - $1,500,00030 SUITES – WEST END - $ 2,565,000
Priced to sell at $835,000!
Country Estate with a beautifully crafted spacious 4000 sq.ft.log home on 3.6 of an acre.
Priced to sell at $739,900 !MLS # 323950 at www.realtor.ca
or contact Brett Hall at 250 465 0060.
Comox ValleyYOUR RETREAT IN THE BEAUTIFUL
Comox Valley
For more information go to:
wo separate B.C. resorts – one in the Rocky Mountains and one on the Pacific Ocean – are representative
of what some see as a new wave in recre-ation: few frills and low prices with location as the draw.
“It is throwback to when regular people bought recreational property they will actually use and can afford,” said Becky Julseth, mar-keting manager of Three Point Properties,which is developing the Wild West Coast Cottages near Port Renfrew on the western edge of Vancouver Island.
Julseth is comparing her rustic cottages with the plush resorts that once dominated the recre-ation scene but went very quiet after the 2008 downturn. In fact, the B.C. resort landscape remains littered with failed high-end proper-ties and owners who probably wished they had bought a tent instead.
Three Point first drew headlines two years ago when it launched the first phase of Wild West with oceanfront cottages from $129,000. The latest phase of 40 cottages has “a double wow factor,” Julseth said.
“These cottages are right above high bank waterfront, all with spectacular ocean views,” she said. The custom pre-fab cottages, built on Vancouver Island and trucked to the site, are larger, fancier and the prices are higher. In a nod to modernity, the cottages come with gran-ite countertops and stainless-steel appliances and there is even an optional upgrade to a fancy fold-away Italian furniture package.
But with 600 square feet of two-bedroom finished space and a big view deck starting at $259,900, Three Point could be tapping into a growing mid-level market of aging boom-ers looking for affordable recreation they can own outright, rather than as a fractional or lease arrangement. Buyers are primarily com-ing from Greater Victoria, the Lower Mainland and Alberta, Julseth said.
Meanwhile, Red Mountain Resort in the East Kootenay Rockies has relaunched Elevate, a collection of ski-in cottages that are priced below what most resort condos once sold for.
The first phase of Elevate offers 18 one-, two- and three-bedroom detached cottages from 602 square feet to 1,094 square feet sell-ing from $299,000 to $399,000.
Howard Katkov, a real estate lawyer, devel-oper and U.S. cosmetics magnate who bought Red Mountain Resort eight years ago, believes
RECREATION FEATURE B.C. oceanfront and ski hill developers opt for low-cost rustic over “McMansions”
FRANK O’BRIEN
WESTERN INVESTOR
small is the new big.“The McMansion era of ski-resort devel-
opment is dead – it’s over,” Katkov said just before last month’s launch of Elevate. The cot-tages are expected to welcome the first owners before the 2012-13 ski season.
Some analysts say the search for more affordable B.C. resort properties is partly due to bargain-priced U.S. real estate, but is also influenced by mortgage restrictions on sec-ond property. And the fear of losing money. According to Vancouver real estate consultant Ozzie Jurock, sales and prices in prime B.C. recreational regions are down significantly from the peak, while months of inventory – how long it takes to sell a luxury property – remain in double digits.
“We are still waiting for the recreational recovery,” Jurock told a Land Rush conference last month.◆
Wild West Cottages on the west coast of Vancouver Island is offering detached oceanfront homes from $259,000: trend today is swinging toward more affordable recreational property with a rustic ambience: but buyers can still expect granite countertops.
Phot
os: Th
ree
Poin
t Pr
oper
ties
Landcor Data of New Westminster, which has a massive database of
every real estate property in B.C. includ-ing the most remote recreational land, has named Darin Nielsen as its new vice-president.
Nielsen comes from a 12-year career as Microsoft’s director for worldwide sales, marketing and services. He was also one of the original developers of the Landcor real estate marketing program.
Nielsen is expected to boot data mining to a new level, according to Rudy Nielsen, president of Landcor. This includes the addition of incorporating demographic and lifestyle data into Landcor’s tradi-tional sales analysis, he said.
JERRY RACZKOWSKI 780-932-2121 e-mail: [email protected]/MAX Real Estate Commercial Division
s
INVESTMENT OPPORTUNITIESTRUMPETER POINTE VANCOUVER ISLAND, BC
COUNTY OF RED DEER, ABCAMPBELL RIVER, BC
westerninvestor.comnews archives reports updates Subscribe 1-800-661-6988
WESTERN INVESTOR MARCH 2012 www.westerninvestor.com Recreational Real Estate LIFESTYLE PROPERTIES B17
“The Source” for Oceanfront, Lakefront, Islands, Ranches, Resorts & Land in BC at:
www.landquest.comLandQuest Realty Corp Smithers
LandQuest Realty Corp CourtenayLandQuest Realty Corp Nanaimo
LandQuest Realty Corp Cariboo –
PORT BROWNING MARINASOUTHERN GULF ISLANDS, BC
BC’S SHUSWAP LAKE1.23 ACRE VIEW LOT
4,800,000
$77,900
$995,000 $949,000
NORWOOD RANCHCOURTENAY, BC
NOVA SCOTIA WINERY/VINEYARDANNAPOLIS VALLEY
GREEN LAKE WATERFRONT
$599,000
NASCALL HOT SPRINGS DEAN CHANNEL CENTRAL COAST, BC
$1,650,000
$899,000$299,000
RIVERSIDE RANCHLANDFERNIE, BC
ULTIMATE RECREATIONAL PROPERTY - FERNIE, BC
$2.1M $599,000
16 AC. WATERFRONT ESTATEWEST ARM OF KOOTENAY LAKE
24.5 ACRE NELSON DEVELOPMENT PROPERTY
COZY CABINBELLA COOLA, BC
$829,000
SELF-SUSTAINING OCEANFRONT HOMESTEAD SECHELT INLET, BC
PONDOSY BAY WILDERNESSFISHING RESORT
$495,000
$199,000 $699K $1.295M
COMM./ INDUSTRIAL BLDG TOPLEY, NORTHERN BC
ACRES OF OPPORTUNITYFRASER VALLEY
HISTORIC MAYNE ISLAND FARM SOUTHERN GULF ISLANDS
$1,850,000
SNAKING RIVER RANCH - 356 AC.CHILCOTIN CATTLE COUNTRY
$265,000
$475,000
1939 HERITAGE BOUTIQUE HOTELPOWELL RIVER, BC - REDUCED
VALEMOUNT 57 AC. 205 LOTPOTENTIAL SUBDIVISION
COUNTRY INNCHILCOTIN REGION OF BC
$489,000 $695,000
THE NEW 108 RESORTCARIBOO REGION OF BC
$3,990,900
BIG BAR GUEST RANCH SOUTH CARIBOO - BY CLINTON, BC
$949,900
26 ACRES - EASTERN HILLSIDESDEV. PROPERTY - CHILLIWACK
$875,000
PICTURESQUE DEVELOPMENT ACREAGE - PRINCETON, BC
$599,000
590 ACRES RURAL LANDQUESNEL, BC
$269,500
B18 Alberta www.westerninvestor.com MARCH 2012 WESTERN INVESTOR
Excellent business opportunity in the heart of the Alberta Rockies. Motorcycle tours, rentals, & accessories retailing in one solid package. Located in a prime downtown location. Tour business has tremendous growth potential and is Jasper’s highest rated tour on Trip Advisor. Call for details.
Rich Potter1-888-774-5696 [email protected]
REALTY
J a s p e r M o t o r c y c l e
TOURS
City of WetaskiwinEconomic DevelopmentP.O. Box 6210Wetaskiwin, Alberta T9A 2E9 www.wetaskiwin.ca
For Details Contact:RONALD HOLLAND (780) 361-4404Toll Free: 1-800-989-6899 Edm Dir: (780) [email protected]
COMMERCIAL (RE/MAX Excellence)
17718 - 64th Ave Edmonton, AB T5T 4J5 (780) 429 - 1200 1(866) 481 - 2950
w w w.RemaxComm.ca
BUSINESS ONLY
Edmonton’s Business & Investment Specialists
Indian Restaurant - Prime location in Edmonton - SOLDCALL AYAZ OR SAM AT 780.641.1320
INVESTMENTCentre 16 - Spruce Grove Retail Building - $1.6MGeneral Store w/Property - Outside Edm. Over $1M revenue.
2000 SF bldg on 0.345 acres. Excellent opportunity! - $595,000
CALL AYAZ OR SAM AT 780.641.1320
MULTI-FAMILY5 Units - Belgravia - Call For Info and Pricing9 Units - South Edmonton - $110,000/Door15 Units - Glenwood - $100,000/Door18 Units - Two building package. Strathcona - $130,000/Door
CALL MIKI O’REE AT 780.200.6454
N Edm Coffee Franchise - Business Only - $215,000Bottle Depot Businesses - 4 Locations in AB. Call For Info
BOTTLE DEPOT BUYING & ORIENTATION - BOOK NOW!***CERTAIN CONDITIONS APPLY***
Auto Wash w/Land & Bldgs - Prime location in NE Edm - $3.5M
CALL RAJAN NULLIAH 780.441.5419
Leduc Commercial Condos - Two commercial condos. Zoned C-3. Prime location in Leduc. $1.025M
CALL DEAN DRYSDALE AT 780.953.4585
Self Storage Facility - 177 Units + 100 RV on 3.88 ac. - $2.1M
CALL MIKI O’REE AT 780.200.6454
CALL RAJAN NULLIAH 780.441.5419
CALL AYAZ OR SAM AT 780.641.1320
Nisku Commercial Land - 2 Lots Left!. Zoned CS - $400K/Acre
LAND
CALL AYAZ OR SAM AT 780.641.1320
NISKU MULTI TENANT BUILDING SOLD!
61000 SF WHSE/OFFICE - PENDING14135 128 Av. Priced to sell!
13 UNITS MULTI FAMILY BUILDINGLocated in Eastwood - $1.3M
118 Avenue Strip Mall - Court Ordered Sale. - $1.525M
CALL GREG STEELE AT 780.945.7800Gas Station, Grocery/Convenience & Liquor Store - Over $2M
in sales.Land, Bldg and Business Included - $1.3MCALL NEIL HORVATH 780.908.5630
Former CIBC Building - 3100 SF. Street Front Retail. - $599,000
CALL RAJAN NULLIAH AT 780.441.5419
Dollar Store - In operation since 1999. Riverbend Sq. - $125,000
CALL MIKI O’REE AT 780.200.6454
Commercial Property for Sale
[email protected] AJS Capital Inc. 780-469-4769
E sso Gas Station – C-Store and Car Wash. Excellent location along highway. Business and property for sale. $4MM.
Esso Gas Station – 6 Bay Wand Wash and C-Store. Located in Edmonton. Excellent cash flow. Business only $400k + Inventory. Property available.S pruce Grove - Highway Property. – This is a lease buy back. Long-term lease
available. Tenant in place. Asking $320,000.B outique Hotel in B.C. – 22 rooms comes with liquor store, pub, banquet room,
lottery, restaurant, etc. Sales over $2.8MM and net income of $600k. Asking $4.5MM
C ommercial Building – 3.9 acres. ATV Dealership. 2 buildings consisting of 24,000 sf and 12,000 sf steel building. Sales of $6MM. Asking $4MM for business and property.
SHOPPING CENTRES,
STRIP MALLS, HOTELS & MOTELSAVAILABLE IN ALBERTA!
Call SammyEMPIRE REAL ESTATE GROUP
780-906-6652
WESTERN INVESTOR MARCH 2012 www.westerninvestor.com Alberta B19
Break Out of the Box
Call 780.361.6231 or visit WWW.JEDIALBERTA.COM
City and County of Wetaskiwin, Town of Millet
Land...red tape…business costs…they can have any transportation & logistics business feeling boxed in.
Get your business freedom back 30 minutes south of Edmonton, where red tape is a bad word, there’s affordable land to spread out on, business costs are competitive, a nose to the grindstone workforce has your back thick or thin, and there’s easy access to major rail, road, and air linkages. Home Hardware chose us as its distribution hub for western Canada; Santa Clausconsidered us.
Edmonton landlords eye banner year Edmonton’s multi-family housing market
should enjoy a banner year in 2012, according to real estate giant Avison Young.
“Expected downward pressure on vacancy rates is forecast to push up rental rates across the region as workers from other parts of the country continue to migrate to Alberta,” Avison Young said in its 2012 forecast for the Alberta capital. “Well-positioned product will continue to draw strong interest from both local and national investors.”
The average price per door increased about $860 in 2011 over 2010. The per-apartment price is now around $111,300 per door, which is still about $8,400 behind the peak in 2007.
The number of units per transaction jumped from 29.4 in 2009 to 32 in 2011, signalling a greater interest from larger institutional investors in Edmonton’s offerings.
The overall greater Edmonton multi-family vacancy rate fell 0.9 per cent in 2011 to 3.3 per cent, but was up in some markets, notably Strathcona County, which includes Sherwood Park. New product helped boost the vacancy rate in that district by 3.7 per cent to 4.7 per cent.
The average cost per acre for multi-family land in Edmonton hit $832,088 in 2011, with the corresponding figure in the suburbs hit-ting $559,856, according to Avison Young.
The increase in multi-family land sales in the final quarter of 2011 means that a market in need of new purpose-built rental units could soon welcome additional supply.
“With vacancy expected to decrease and new rental supply coming on line, the ingre-dients for a more active market where owners can obtain full value for their properties are coming into place,” said Paul Chaput, princi-pal for Avison Young in Edmonton.
Calgary office space tightensThe fourth quarter of 2011 capped off a
record year for absorption in the Calgary downtown office market, according to Colliers International.
About 630,000 square feet of new space was absorbed in the fourth quarter alone, Colliers says, bringing yearly absorption to 2,837,000 square feet, and dropping the overall vacancy rate from 11.97 per cent to 4.49 per cent in one year.
Absorption in 2011 was about 39 per cent higher than the previous record year of 2005.
The owners of Eighth Avenue Place announced late in the year that they planned to construct a 40-storey west tower on the development that would add 841,000 square feet for initial occupancy in summer of 2014.
A key influence for the Calgary market is energy prices, and high crude oil prices are stoking the oilpatch’s demand for space in office towers and industrial shops.
The city’s largest office project, The Bow, will open in 2012 to house Cenovus Energy and EnCana staff, but even that won’t boost vacancy rates downtown beyond about 6 per cent, according to Colliers.
Edmonton’s vacancy rate declined in the fourth quarter of 2011 to 10.74 per cent from 11.26 per cent, according to Colliers.
College looks for land developer Canadian University College is seeking
private investors after a large land and housing deal with the City of Lacombe fell through.
City council for the central Alberta com-munity of 12,500 voted early in the new year to terminate an agreement with the college that would have seen the town participate in building on 15 acres of college land.
The project originally envisioned up to 300 acres of development on what was known as the Legacy Pointe Residential Housing Development Initiative (REHDI).
Alberta’s Number 2 oilsands community is expect-ing a busier 2012 – especially for landlords.
That’s because Imperial Oil has finally given the go-ahead to its long-awaited Nabiye oilsands expan-sion project northwest of Cold Lake, which is situated roughly 300 kilometres northeast of Edmonton.
Nabiye will access 280 million barrels of reserves, and boost daily production at Imperial’s Cold Lake opera-tion by about 40,000 barrels per day (about 2.5 per cent of the province’s total oilsands output) by the end of 2014. Imperial’s existing project is the largest non-mining oilsands extraction facility in the province.
While oilsands expansion projects affect nearby com-munities to differing degrees, Nabiye stands to influence Cold Lake even more than most projects would because it will be built without the use of on-site accommodation. That means hotels will be full, restaurants will be busier and rental accommodation will be more scarce come the fall.
Cold Lake Mayor Craig Copeland says his community is more prepared for this expansion than it was for previous Imperial projects, but that accommodation will be stretched.
“It’s the rental market in Cold Lake that will get really tight,” said Copeland, noting that this will pose significant challenges for lower-paid workers in some other industries and for renters on the bottom end of the Department of National Defence pay scales at CFB Cold Lake.
Copeland says some significant hotel expansions and upgrades will help when work kicks off in September, but he doesn’t expect there will be any significant multi-family housing projects completed in the community before work on Nabiye starts.
That means investors with rental capacity in the city of 14,000 are now sitting in a good position to cash in on the next boom. Housing prices have increased from about $305,000 to $325,000 for a single-family home in the past year.
Meanwhile, reworking of Highway 28 to improve traffic capacity between the north and south ends of the amalgamated community should be complete this summer. A new deal approved last year will also give the oilsands community about $11 million more in provincial tax revenue in 2012 to deal with what had been a ballooning infrastructure deficit – one that had caused Cold Lake to muse about shutting down new development because of lack of resources to deal with it.
“The province was aware we just couldn’t do it any more,” Copeland said, reflecting on Ed Stelmach government’s decision last year to divert tax revenue from the Cold Lake Air Weapons Range to help the city.
A CF-18 guards a new Cold Lake boom.
Phot
o: C
ity
of C
old
Lake
The college is now seeking potential private partners for a housing development on its lands.
The REHDI project was aimed at assisting first-time homebuyers who are finding market prices unaffordable in the Red Deer suburb.
“I fully understand the concerns some have about the REHDI project and appreciate why
city council took this action,” college presi-dent Mark Haynal said.
“Canadian University College will begin working with other developers to develop the land in a manner that benefits both our insti-tution and people who want to build or buy a home in Lacombe.”◆
– Compiled by Dave Husdal
B20 Alberta www.westerninvestor.com MARCH 2012 WESTERN INVESTOR
FORT MCMURRAY – FOR SALE OR LEASENEW INDUSTRIAL SPACE AVAILABLE – 2012
Call or
www.property-solutions.ca(2006) LTD.
WESTERN INVESTOR MARCH 2012 www.westerninvestor.com B21
REGIONAL ROUNDUP Fort McMurray now has the land to meet demand as oil flow prepares to double
Please see Infrastructure page B22
DAVE HUSDAL
WESTERN INVESTOR
ennis Doherty admits the scenario is perhaps optimistic and aggres-sive.
Still, as president of Pacific Investments and Development Ltd., Doherty is hopeful his company could be bringing badly needed commercial and industrial land to the hot Fort McMurray market before the end of this year.
“Our goal is to get in and get out as quickly as possible, and to make it affordable for every-body within the area,” Doherty said, expanding on Pac Dev’s plans for what’s known as Prairie Creek Business Park.
The real estate play project is seen as the near-term solution for the ongoing shortage of industrial and commercial land in the world’s oilsands capital.
Prairie Creek will include about 700 devel-opable acres on the east side of Highway 63, roughly nine kilometres south of the heart of Fort Mac. Doherty says the company foresees build-out within three to 10 years on Prairie Creek.
It’s a project made possible, in part, by the provincial government, which agreed in early 2011 to sell Pac Dev roughly 980 acres of Crown land for a cool $35 million.
The parcel, covered in a layer of muskeg a metre or more thick, might not seem like the perfect place to build, but beggars can’t be choosers in an energy boomtown.
The province actually listed the land for $28 million in late 2010 ($30,000 an acre), but it fetched more when Pac Dev decided to jump in.
Now it seems what was heralded by Infrastructure Minister Ray Danyluk as the government “responding to a critical need in the community” 18 months ago may actually yield some fruit – as in lots for everything from big-box stores to welding shops and trucking and logistics firms.
Doherty says Pac Dev has started clearing the first 220 to 250 acres of the site, and expects to move through the landuse clarification pro-cess this spring after agreeing to a conditional outline plan for the land with the Regional Municipality of Wood Buffalo late in 2011.
Ultimately, Pac Dev would like to see ser-viced lots available as early as the fourth quar-ter of 2012, Doherty says, though he knows that will be a tall order, particularly because of the desire to make the Prairie Creek project more than just a badly needed industrial park.
“This is the new gateway coming into Fort McMurray and we want to make it beautiful and nice as people drive into the community,” explained the Pac Dev president.
Challenges for the developer and the munic-ipality include everything from developing a new sewage collection system – the land can’t be easily tied into the city’s existing network and treatment system – to dealing with the muskeg layer. The latter issue is an area-wide one, Doherty acknowledges.
Doherty says Pac Dev and Wood Buffalo have already made considerably more progress toward readying the land for development than might be seen in a city like Calgary in a much longer time span.
While that may be true, things tend to be demanded more quickly in the north than else-where, and that’s definitely the case in Fort Mac, where firms are hungry for shop space – even with serviced industrial land tagged at well over $1 million per acre.
A quick glance at Fort McMurray listings yields industrial properties priced at $1.45 million per acre, including 25 acres near the bustling airport.
If you’re looking for a comparison, land near the Calgary airport – Canada’s fourth busiest – sold for a little more than half that amount per acre in 2010, according to Colliers International.
Doherty’s hope that Pac Dev can bring land to
the market sooner rather than later is shared by fellow developer Bryan Lutes, a man whowears two hats as president of both Wood Buffalo Housing and Development Corp. (WBHDC) and the Wood Buffalo Urban Development Institute, which represents theinterests of the local development commu-nity.
“In Fort McMurray, the pace is probablythree times as fast as anywhere else I’ve been,”Lutes explained.
And with good reason. “There’s very littleproduct on the market today.”
As of early February, WBHDC had only one lot left in its TaigaNova business park, which is located north of the heart of the city as Highway 63 heads toward major oilsands projects. Thatlot, a highway commercial one, offers 2.89 acres for a healthy bid of $5.9 million.
Lutes says his company would have little trouble selling more industrial lots under the TaigaNova pricing scheme if it still had them
TOP: Dennis Doherty, president of Pacific Investments and Development Ltd.: new 700-acre industrial park will start selling lots this year on raw land (LEFT) that the company bought for $35 million. Serviced industrial land in Fort McMurray is selling for more than $1.2 million an acre.
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Waterfront Pub & Detached Liquor Store
Land, buildings and businessPrince Rupert, BC $2,500,000
BC’s fastest growing super port city
JOHN JOHNSON Tel: 604-319-2504Fax: 604-463-5287
PRUDENTIAL STERLING REALTY LTD.
For Lower Mainland Pub Opportunities call:
PUBS For Sale NORTHERN ALBERTAINVESTMENT/BUSINESS OPPORTUNITY
Looking for Investor's to purchase 4-plexes in the Peace Country
For Further Information contact:Evelyn Petkus
780-836-3086 or 780-836-6478EMAIL: [email protected]
ROYAL LEPAGE, CASEY REALTY LTD. PEACE RIVER, AB
www.manningrealestate.ca
Please Call Bob Chinn, Assoc.([email protected])
Web: chinnproperty.comPH: 780-434-4700FAX: 780-436-9902
Brand New Freestanding Building two storey with 4,000 sqft on the main floor retail & 5,000 sq.ft. upstairs divided into 4 units. Parking in the rear $1,820,000 located on busy 101st just steps from the new epcor tower, LRT systems and proposed hockey arena.
Office Building For Sale Prime Location on Jasper Avenue and 114th street in the Oliver Area. 4 storey building consisting of 56,012 square feet . Property is on 3 lots (50 feet x 150 feet) with also parking lots (92 feet x 150 feet) in the rear. Property is wedge between two drugs stores (Shoppers Drug Mart and Medicine Shoppe). New developments all around. Ellerslie RE Development Site 80 acre parcel across from the new Edmonton Recreation centre along Ellerslie Road. Pulse Pointe Development Site Located in the Quarters project on 95th street and 102 Avenue. A total of 4 lots (14,200 sq.ft.) (142 ft frontage and 100 ft deep. Presently, building is 11,840 sq.ft. This is a new up and coming area. Plans for future LRT system is slated for the area.
Land And Building For Sale Over 9,000 square feet on the main floor. Upstairs consisting of 4,000 sq.ft and basement level of 4,000 sqft., parking to the east of the building. Lot is 14,577 square feet (120 feet x 122 feet) Located in “the Quarters project” on 95th street and 102 Avenue. This is a new up and coming area. Plans for future LRT system, hotels and high rises is slated for the area. Business Condo in Old Stathcona 1500 square feet perfect for professional use, has 6 offices, storage, kitchen, reception area. Was used as chiropractors office, In desirable Stathcona. Close to all amendities, busy traffic. Freestanding BuildingFully leased out on busy Jasper Avenue on a 50 x 150 lot. Building is two storey approx. 5,000 square feet on the main floor with paved parking in the rear. 2 main floor tenants and 2 tenants upstairs. $1,700,000
or Mark Wilbert, Assoc.([email protected])
CENTURY 21 A.L.L. STARS REALTY LTD
EDMONTON & AREA
WINDOW OF OPPORTUNITY!
Invest in land with development potential.
381 acres on Lake McGregor. Hour and 10 minutes SE of
Calgary. Approximately 3/4 mile of shoreline. Gently
sloping. Suitable for lake view lots or golf course. Vendor
willing to lease [email protected]
Looking for a quick buyout?
If you’re a property management owner look-ing to retire, cash out or reduce hours, we want to talk to you. We seek to grow, have cash, and are experts at tax-efficient, flexible options.
Keith McMullen 403-228-4303 [email protected]
B22 Alberta www.westerninvestor.com MARCH 2012 WESTERN INVESTOR
Val ToffoliPhone: 780-707-9395
REALTY EXECUTIVES POLARIS4107 - 99th Street, Edm, AB T6E 3N4
Selling Edmontonsince 1987
APARTMENT BUILDINGS:
WANTED: APARTMENT BUILDINGSHave Qualified Buyers Ready to Purchase!
City of CamroseRay TelfordEconomic Development
The Regional Centre of East Central AlbertaLots next to our new Hotel Convention Centre and Casino3 to 4 acre parcels - starting at $175,000 per acre
Prime Highway Commercial
Camrose
Contact Alim N. Somji Call 780.907.3973
Email: [email protected]
LEASING OPPORTUNITIESin Downtown Edmonton
1,171 sq. ft. Office Space Starting at $11.00/sq. ft.
THE COMMONWEALTH BUILDING
& Financial District
THE JAFFER BUILDING
PRIME YUKON INDUSTRIAL PROPERTY
Prime commercial location on Industrial Road features 5200 sq ft on the main floor including retail area and large shop area at rear. Upper mezza-nine is 2700 sq ft of open storage area and offices. The CIM zoning allows most commercial operations and the prime location close to the corner of Quartz & Industrial Roads ensures great visibility for your business. MLS #6959 $800,000
126 Industrial Road Whitehorse, Yukon
For further information and tours please contact:
Ernie Bourassa, Dave Pearson or Darryl Weigand
1-867-667-2514RE/MAXAction Realty
INVESTMENTS CALGARY AREA
RE/MAX ACA REALTY
(403) [email protected] Realty
excellent return
priced to sell
,
Quonset
PRICED TO SELL
For more information on these and other properties
DON SACKETTcall
from B21
available at $1.25 million to $1.35 million per acre.
Lutes says the development community would like the province to move along on a sec-ond major site for new industrial and commer-cial development close to the Fort McMurray airport.
Development of that site, comprising about 600 acres on the south side of Highway 69 just south of the airport, would provide more options for businesses and small developers, Lutes says. It would also provide more com-petition for Pac Dev.
“That needs to come out for this community for two reasons,” Lutes said of the airport land. “It needs to come out because of need and to keep competition for Pacific, so Pacific isn’t just maximizing prices.”
As of early February, the province hadn’t listed the second site with a realtor.
While it may not rush to put the land on the market soon, the province continues to chisel away at some of the region’s challenges in the areas of transportation and development.
“We anticipate a land release strategy in the next couple of months, particularly for residen-tial, with regards to Saline Creek,” Lutes said.
That piece of land, amounting to roughly 1,700 acres on a plateau on the south side of the city, is envisioned for a large new subdivi-sion. The average house now sells for around
Population (excluding work camps) 76,797Acre of serviced industrial land $1.45 millionProjected oilsands investment $111 bil-lion in next seven yearsRent for two-bedroom apartment $2,049Growth since 2000 80 per centAverage detached house price $729,000
$730,000.Lutes expects transportation infrastructure
issues to continue to be intertwined with every-thing happening in Fort Mac.
While there’s been considerable progress in some areas – completion of a new five-lane bridge for northbound Highway 63 traffic over the Athabasca River – other needed projects have bogged down. The province has yet to start construction on a new interchange to access the Parsons Creek subdivision from Highway 63 on the north side of the city. Without an interchange, development beyond 1,000 homes in the neighbourhood simply isn’t safe, Lutes says.
“There’s no way to get people safely in and out of the development unless we have the transportation route,” Lutes noted.
The province opened one new interchange on the highway north of the river in late fall to access Thickwood Boulevard. It expects to fin-ish work on the Thickwood and Confederation Way interchanges this summer.
The additional interchange further north to safely access the Parsons Creek area is less definitive. Alberta Transportation says that detailed design of the interchange is complete, but Lutes worries that higher than expected ten-ders may mean that construction will not be complete for another three years, in 2015.
South of the heart of the city, similar safety concerns limit residential and industrial devel-opment.
There is no interchange for the highways 63 and 69 junction (the T-intersection is con-
trolled by a stop sign for Highway 69 traffic), so additional development that will run more vehicles through the junction will require some upgrading – whether it be in the form of a large diameter traffic circle or in the form of a full interchange.
The Prairie Creek project will also even-tually merit an interchange, though Doherty notes that traffic will initially access the project from Highway 63 via at least one traditional intersection.
Just how much buyers will pay for new lots in Prairie Creek remains to be seen. Doherty says Pac Dev is still crunching numbers while it continues with planning and site preparation work and ponders just what to do with all that muskeg.
“That’s one of our biggest challenges at this point in time,” said the Pac Dev president, not-ing that the scraped-off material may be used in the construction of berms and trails in the area.
Interest in Prairie Creek is considerable, however, with the developer and its realtor tak-ing inquiries from prospective purchasers of both highway commercial and industrial land, Doherty says.
A review of oilsands forecasts suggests Fort Mac will only get busier. While oilsands pro-duction in Alberta currently sits at 1.6 million barrels per day, the province’s energy regulator has approved another 1.5 million barrels per day of production.
Some of that additional production will be in traditional area north of Fort Mac, but a biggershare will be in less obtrusive “in situ” proj-ects south of the city between Cold Lake and the oilsands capital. Lutes, who says Canada’soilsands capital must get ready, noted, “I thinkwe’re back to where we were in 06/07, which is pre another boom.”◆
63
FORT McMURRAY
Athabasca
✪
ALBERTA
282
Edmonton
Fort McKay
Lac La BicheCold Lake
SASK
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813 5th Street NEHighly desirable location Renfrew-Regal Terrace: 50x180ft MC-2 lot. Zoning allows new developments to have gross floor area of 22,500 sq ft and a maximum height of 52 ft. $719,500
Sano Stante | 403-289-3435RE/MAX Real Estate CentralEmail: [email protected]
Website: www.sanostante.com
830 Edmonton Trail NEHigh Visibility Commercial Property 2200sf building 3175sf lot. Great space for retail professional, medical or service. Versatile building for a multitude of uses. $735,000
WESTERN INVESTOR MARCH 2012 www.westerninvestor.com Alberta B23
EXECUTIVE MOTEL (50 RM) + LOUNGE + RESTAURANT (B+P)Asking: $6.89 Mil--Revenue: $2.2 Mil--Room Sales: $1.3 Mil. (2011)--Bar & Grill Sales: $900,000--3 VLTs (Projected Revenue: $60,000/Yr)--Only 5 Yr Old Building With 3.5 Acre Land--Located In Booming Oil Town
EXECUTIVE MOTEL (28 ROOMS+LOUNGE+RESTAURANT) (B+P) Asking: $2.19 Mil + Stock--Revenue: $1.45 Mil. (5 Yr Average)--Room Sale: $465,000; Restaurant: $480,000;--Lounge: $220,000; VLT (4): $85,000;--Liquor Store: $200,000; --Land Size: 3.5 Acres--Located 1 Hr From Edmonton--Built In 1989.--In Excellent Condition.
SHELL GAS STATION+CARWASH (B+P) Asking: $1.69 Mil + Stock--Revenue: $4.2 Mil.--Fuel Sale: $3.2 Mil. In Store Sale: $1.0 Mil.--Restaurant Leased Out--Very Good Location--1.5 Hrs From Edmonton
SHELL GAS STATION + CARWASH (B+P) Asking: $2.49 Mil + Stock--Revenue: $6.5 Mil.--Fuel Sale: $4.7 Mil. In Store Sale: $1.7 Mil.--Car Wash & Other: $100,000--Gross Margin: $1.1 Mil.--On 3 Acres Land With 1 Automatic Car Wash-- 1 Hour From Edmonton.
CAR & TRUCK WASH (B+P)Asking: $749,000--Revenue: $300,000--1 Automatic Bay; 2 Truck Bays; 3 Car Bays--Upgraded Equipments--Nicely Managed--Seller Is Motivated--Located 3.5 Hrs From Edmonton.
Tel: 780-619-8181(cell) Fax: 780-431-9549 Email: [email protected]
POLARIS
www.Terryjin.com
TERRY JIN
EDMONTON A R E A
LAND & BUILDING ONLY
GREAT LOCATION/REVENUE
1.1 ACRE PAVED
LOT. 16,800 SQ.FT.
INCLUDING 2,000
SQ.FT. MEZ/OFFICE.
$1,175,000
OPPORTUNITIES
Larry Melanchuk, Associate Broker Cell: 780.826.0100 www.coldlake.info
TF: 1.800.707.8374 A Division of Cold Lake 2000 Realty. Independantly owned & operated.
RE/MAXCold Lake
2000
$2B Expansion at Cold Lake oilsandsTake advantage of the economic spin offs
75.05 ACRES DEVELOPMENT LAND COLD LAKE NORTH $1,050,000
DEVELOPMENT SITE 5.08 ACRESDESIGNATED MULTI FAMILY $405,000
17.07 ACRES RESIDENTIAL SUBDIVIDSION63 LOTS ZONED R1B $770,000
7.2 ACRES ZONED HIGHWAY COMMERCIAL
Services prepaid $749,900
WHITECOURT, AB
Leo or Brenda at 780-778-6678 1-800-248-4843 [email protected] RE/MAX Advantage WCT www.whitecourtrealestate.com
Renford Inn Motel – 112 rooms, 3.73 acres on hwy. Room to expand. Sales: $1,200,000 List: $4,950,000
Pizza Delight Franchise, good location, lease & sales. Asking $229,000 Owner retiring.
Quizno’s Franchise – 5 yrs. operating - 5 yr. lease. Good rev and hwy location. $449,000
School Board Offi ces & Shop - .72 acres. Good location 5,900 sf 2nd level offi ces, 5,882 sf shop/warehouse. Asking: $1,250,000
COMMERCIAL BUILDINGIn Wainwright, AB built in 20098960 sq.ft. commercial Lease space with tenants8.2% cap rate $1,147,000
COMMERCIAL BUILDINGIn Wainwright, AB built in 20098224 sq.ft. Total. 4384 Small Animal Vet Clinic Vacant3840 sq.ft., Leased shop space, 9.2% cap rate $926,000
COMMERCIAL CONDO1800 sq.ft. Commercail Condo built in 2011Office, Shop, and fenced CompoundTenants in Place $198,000
VACANT LAND105 Acres of Vacant Land adjacent to WainwrightExcellent Investment opportunity for development as Industiral/Commercial space is limited $1,260,000
CUSTOM HOME17 Acres 10 miles outside Wainwright, AB1874 sq.ft. Custom Built Home with 3 car garage,as well as 60 X 60 fully finished shop $795,000 MLS# 45295
WAINWRIGHT AB
r
k
Each office is independently owned and operated.
Each office is independently owned and operated.
RE/MAX MEDALTA REAL ESTATE LTD.
M E D I C I N E H AT, A BProfitable Business FOR SALE
Retail & Service $450,000
Information Packages Available (Jacquie-unlicensed assistant [email protected])
ROBERT GRAHAM, B. CommerceASSOCIATE
[email protected] or 1-403-528-7772 Cell
B24 www.westerninvestor.com MARCH 2012 WESTERN INVESTOR
POLARIS REALTY
I N V E S T M E N T
PROPERTIESFOR SALE!
68 FULLY SERVICED MOBILE HOME VACANT TITLED LOTS located within a modern Mobile Home Park in High Level, AB. Fully serviced, paved roads, underground utilities, fenced and landscaped. MOTIVATED SELLER MAY CARRY 60% FINANCING FOR A QUALIFIED BUYER! MLS # E1014318 Price recently slashed to $975,000 or only $14,338 per lot!
23 UNIT APARTMENT, University area, nice condition and 5.75 cap. No agents please. Call for proforma
13,231 SF, 5 bay retail strip mall in Leduc, AB. with solid long term tenants. 9 years old. NOI over $153,000 per annum. 7 cap at $2,095,000 - SOLD
Rick D. Jenkins COMMERCIAL REALTOR
Bus: 780-450-6300 Cell: 780-990-6120
Fax: 780-929-8304
E-Mail: [email protected]
Looking for investment properties for all ICI categories. Looking for apartments, commercial/retail buildings, industrial properties etc. Fully qualified buyers. Call
now for your complimentary evaluation and allow my 21 years of banking and 14 years of commercial real
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Glenn MooreAssociateC21 Advantage CommercialPhone: 403-318-8085Email: [email protected]
OPPORTUNITY IS KNOCKINGIN RED DEER!
Reduced to $6.5 Million
anada is seeing a historic shift, as underlined in the recent Canada Census that showed, for the first
time, more people are living west of Ontario than to the east. Yet the real economic trans-formation is not seen in the movement of peo-ple, but in the movement of trucks, trains and labour as Western Canada begins to replace Ontario as Canada’s industrial heartland. Yes, there are more industrial buildings and more manufacturing in Central Canada – Toronto alone has more industrial space than the five biggest Prairie cities combined – but when it comes to new construction, big projects and flat-out potential, the West takes the lead.
In Fort McMurray, for example, the lat-est industrial park, being started this year by Calgary-based Pacific Investments Development Inc., covers 700 acres in a city where an acre of serviced industrial land can sell for $1.2 million.
When Tom McClocklin of Colliers McClocklin Real Estate Group addressed a real estate conference in Saskatoon last month, he could have been summing the potential right across the Prairies: “We have multiple things driving our economy,” he said. “We have agriculture, potash, uranium, diamonds, oil and gas, rare earth mineral plays and oilsands development.”
Winnipeg: Servicing of the CentrePort Canada industrial complex in Winnipeg’s northwest will complete this year, introduc-ing a new platform for industrial growth. The city spent $17 million to service the 1,100-acre site that opens in the second quarter. Despite the new space, the industrial vacancy rate is expected to remain at 3.5 per cent in 2012, with more than 440,000 square feet forecast to be
leased up. Demand is strongest in the north-west and southwest areas. Despite 350,000 square feet under construction, the vacancy rate remains at 3.5 per cent, and industrial lease rates are have increased marginally to around $6.40 per square foot. Commercial real estate company CBRE reported increased interest in “national companies looking to enter the Winnipeg market.” Capitalization rates for Class A and B space are in the 7 per cent to 8 per cent range and industrial space is selling for an average of $55 per square foot.
Saskatoon: Fuelled by both oil exploration and potash mining, Saskatoon will see 500,000 square feet of new industrial space added this year, according to Colliers Canada, and much of it is speculative construction in a city ranked as having one of the fastest-growing economies in the country. In the past five years, Saskatoon has seen double-digit population growth as new workers move in.
Serviced industrial land prices have topped an average of $400,000 per acre for the first time and the outlook is for the industrial vacan-cy rate to fall even further. It is now at 2.4 per cent, tied with Regina as the lowest in North America. Industrial lease rates for new prod-uct are in the $12-per-square-foot range, with older properties leasing for from $9 to $11 per square foot.
Regina: NAI Real Estate senior commercial agent Micky Schmidtz points to speculative construction as a mainstay of Regina’s real estate market.
The city, the largest owner of industrial land, is about to release its final 60 acres of indus-trial-zoned land. Five years ago industrial land was selling for $80,000 an acre. A year ago it was $230,000. The next batch is expected to fetch at least $350,000 per acre in 2012, NAI estimates. The industrial vacancy rate is 2.4 per cent.
With the city land drying up, industrial devel-
FEATURE Best real estate play in the country: Industrial sites in the top-five fast-growing Prairie cities
WI STAFF
WESTERN INVESTOR
opment will be on the privately owned land to the east of the city and to the giant Global Transportation Hub (GTH). Phase 1 construc-tion of a million-square-foot distribution centre in the GTH is complete with more than 425,000 square feet in use. Phase 2 is underway with an additional 565,000 square feet operational in 2012. Action linked to servicing the Balkan oil-fields is helping to fuel the GTH and Regina’s industrial market.
According to the Conference Board of Canada, Regina’s economy growth will ease to 2.9 per cent in 2012, which still ranks Regina fourth among Canada’s major cities. Strong employment is drawing migrants to the city, which has seen an 8 per cent increase in popu-lation since 2006.
Calgary: Leading Calgary’s industrial curve is Oxford Properties’ $500 million Oxford Airport Business Park, a $4 million square-foot mixed-use – industrial, retail, office and hotels – covering 260 acres. It will complete half-a-million square feet of industrial in the first phase this year. Tonko’s Starfield centre will bring a further 900,000 square feet to the market, with the first phase opening this year.
In all, 1.6 million square feet of industrial
space is expected to be under construction in Calgary in 2012, but absorption is forecast at1.39 million square feet. The industrial vacancyrate is pegged at around 4 per cent. The sale price for industrial space will reach $169 per square foot in 2012, up from $160 per square foot in 2011, while average lease rates will increase to $8.31 per square foot, according toestimates.
Edmonton: Industrial land is selling for up to $800,000 per acre in southwest Edmonton, the centre for the energy sector, but is in the $260,000 to $500,000 range in other parts of the capital. Vacancy rates are 3.1 per cent, but dipbelow 1 per cent in hot suburban markets such as St. Albert and Sherwood Park, according to Colliers. A rush of speculative construction is expected to lower vacancies in the northwestarea. Industrial sales through 2011 were run-ning at more than $20 million per month, a pace expected to continue in 2012.◆
New industrial building takes shape in Saskatoon: industrial sales and
prices are up across the Prairies.
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Market Industrial vacancy
Calgary 2.9 per centEdmonton 6.2 per centRegina 2.4 per centSaskatoon 2.4 per centWinnipeg 3.5 per cent
Source: CBRE/Colliers International, Western Investor
WESTERN INVESTOR MARCH 2012 www.westerninvestor.com Saskatchewan B25
Pilot No.
Civic Address
Size (sq. ft.)
TOTAL Purchase Price
#1 323 Diefenbaker Drive 28,826 $107,597
#2 339 Diefenbaker Drive 31,710 $118,489
#3 369 Diefenbaker Drive 31,710 $118,489
#42 McKenzie Lane or 24 Chester Road 21,851 $81,872
#5 6 McKenzie Lane 21,968 $82,225
#6 34 Highland Road 55,220 $206,301
Pilot No.
Civic Address
Size (sq. ft.)
TOTAL Purchase Price
#7 28 Highland Road 42,949 $160,526
#8 22 Highland Road 55,220 $206,301
#9 93 Highland Road 57,109 $184,691
#10 87 Highland Road 56,187 $181,747
#11 81 Highland Road 51,503 $166,518
#12 75 Highland Road 35,585 $132,994
#13 73 Lancaster Road 26,813 $86,872
Pilot No.
Civic Address
Size (sq. ft.)
TOTAL Purchase Price
#14 67 Lancaster Road 26,813 $86,872
#15 61 Lancaster Road 33,020 $106,871
#16 55 Lancaster Road 55,232 $172,876
#17 15 Lancaster Road 36,596 $114,710
#18 33 Highland Road 44,013 $142,353
#19 45 Highland Road 32,776 $105,940
B26 Saskatchewan www.westerninvestor.com MARCH 2012 WESTERN INVESTOR
Businesses in SW SaskEastend & Shaunavon are enjoying a robust Oil & Gas Economy
SHAUNAVON & EASTEND
$275,000
$150,000
$279,000
$259,000
MOOSE JAW
$269,000
SWIFT CURRENT
$379,000
$230,000
$590,000
$750,000
$850,000
$97,500
$285,000
1-888-778-3933
Lee Davidson 306-741-7367Anita Evans 306-741-5403Katherine Ashton 306-741-5403
Do you have a
Recreational Real EstateADVERTISING FEATURE:
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604-669-8500 • [email protected]
Advertise your listings in our special
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www.westerninvestor.com WESTERN INVESTOR Recreational Real Estate LIFESTYLE PROPERTIES
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www.bobplowright.com [email protected]
Why Harrison? Nestled against Southwestern British Columbia’s mag-nifi cent mountains and the sandy beaches of Harrison Lake, Harrison Village is your local destination fi lled with a rich history and natural wonders, including our world famous BC Hot Springs. Known for its leisurely days and friendly ways, offering nature, art, entertainment shopping and food.
Overwhelming Views
$1,888,000 Virtual tour at www.6565-rockwell.ca
FOR SALE AUTOMOTIVE PARTS STORE KITIMAT, B.C.
Gerri Saunders (250) 632-2107 (250) 632-6638
Virtual tour at www.annabelyoung.comANNABEL YOUNG Offi ce: 604-888-0786
Cell: 604-961-7541 Email: [email protected]
Far from the Madding Crowd
- Exquisite property features the best of the West Coast
- Water Front -1.84 acres of high water front
- Custom designed house infused with southern light
- Spectacular views of the Gulf Islands- Live year round or have a
weekend retreat and haven- MLS® F1118274 $1,075,000
Approximately 80 minutes northeast of Winnipeg on the Bird River. This classic lodge is world famous for trophy bear and deer hunting. Located 1/4 mile from a Department of Transportation certified airport runway. Suitable for church camp, corporate retreat, training centre or private retreat. Commercial kitchen. Games room, sauna & conference room. Thirteen bedrooms, sleeps 27 plus master bedroom & ensuite. Approx. 6900 sq. ft. on +/-2 acres. Asking $1.85M.
FOR SALE - On Bird River, MB
204-928-5008
Recreational Real Estate LIFESTYLE PROPERTIES www.westerninvestor.com WESTERN INVESTOR
Investment OpportunityAvondale - Crystal Gardens Lake CommunityNewly remodeled home, 1870 square feet, 3 bedrooms plus den, 2 baths, prime location near shopping and freeway access, would make for a great vacation home or could rent for $1000-$1075 as an investment property.For Sale: $112,500
Contact us to start your portfolio today. Here are twelve of the homes we’ve sold over the past few months which are all within a 30 minute drive from downtown Phoenix. We even offer property management for our clients.
Phoenix AreaAverage Sales Price per Square Foot
ARMLS Residential - All Areas and Types
ARIZONA Investment Property For SaleACQUIRE REALTY 623-853-7765Toll
Ste. 305 Avondale, AZ 85323
Sold Price: $51,900Rent: $850City: Tolleson
Square Feet: 1,423
Sold Price: $52,00Rent: $825City: Phoenix
Square Feet: 1,343
Sold Price: $60,300Rent: $895City: Glendale
Square Feet: 1,278
Sold Price: $60,500Rent: $825City: Goodyear
Square Feet: 1,159
Sold Price: $61,500Rent: $925City: Avondale
Square Feet: 1,197
Sold Price: $62,000Rent: $895City: Avondale
Square Feet: 1,255
Sold Price: $64,000Rent: $850City: El Mirage
Square Feet: 1,495
Sold Price: $64,000Rent: $785
Square Feet: 1,574
Sold Price: $64,125Rent: $850City: Phoenix
Square Feet: 1,435
Sold Price: $69,000Rent: $825City: Phoenix
Square Feet: 1,343
Sold Price: $87,000Rent: $995City: Laveen
Square Feet: 1,763
Sold Price: $105,000Rent: $1,150City: Goodyear
Square Feet: 2,277
Acquire Realty is family owned and operated with over 30 years of Real Estate experience. Contact us for Foreclosure or Short Sale Listings in Phoenix, Scottsdale, Fountain Hills, Surprise,
find your vacation home or investment property.
erhaps the strongest evidence of a recovery in the Kootenay recre-ational market is the sale of ranch-
sized acreages at the exclusive Ranches at Elk Park just outside of Radium Hot Springs. Prices range to nearly $3 million – and that is just for the land.
“We have sold two lots and we have holds on two others,” said Rudy Nielsen, founder and president of Niho Land & Cattle Company,which is marketing the ranches through its sub-sidiary LandQuest Realty.
Prices roam from $9,000 per acre for small parcels to around $2,100 per acre for 400-acre and larger ranches.
The 3,500 acres at Elk Park, a gated ranch community and perhaps the only one in B.C., are divided into 16 ranches, from 36 acres to 480 acres.
The two lots that sold – one to a retired Edmonton oil executive – are both in the 100-acre size, as are the two with pending sales.
The Ranches at Elk Park are what Nielsen calls a “rare collection” of recreational private estate properties. The ranches are framed by Kootenay National Park and the Columbia Valley and prices range from $390,000 to $2.95 million for 200 plus acres with a lake.
“This is a very exclusive opportunity,” said Nielsen, 70, B.C.’s most prolific land dealer. In the last 40 years, he’s put together thousands of successful real estate deals, involving tens of thousands of acres, from small plots to ocean islands, to entire town sites and huge farms
and ranches. “There’s nothing else like this in British Columbia. South of the border, in places like Montana, similar ranch-style communities are far less pristine and their prices are much steeper.”
Calgary-based Schickedanz West, the owner of the Ranches project, is adding a com-prehensive amenity centre outside the access point with fitness facilities and a private own-ers’ lounge, Nielsen said. He credited owner Fred Schickedanz for having the vision and patience to create “one of the best recreation-al ranch developments I have seen in a long time.”
Nielsen said buyers are a mix of permanent residents and seasonal owners who plan to
RECREATION FEATURE Wealthy investors corral exclusive acreages at Ranches at Elk Park in Kootenays
WI STAFF
WESTERN INVESTOR
eventually retire to the property. They share an common appreciation of nature, outdoor adventure, horse-back riding, hobby ranching and getting away from it all, “without going too far or spending too much.” Some of the ranches are lakefront, others have valley views and all have the security and privacy only big money can buy: there is only one access road and it is protected by a controlled locked main gate.
The success of Elk Park is likely cheered by other land and recreational vendors in the Kootenays, especially since it heralds the return of Alberta investors.
In 2007, Albertans were big in the Kootenay
area, grabbing more than 2,000 residentialproperties and more than 600 plots of vacantland, with the Columbia Valley figuring large.With the BC/Alberta border so close to Calgary,the Kootenays were a natural lure. Then the oil-fueled global economy stalled and Albertanswent quiet; in 2010 Albertan purchases were off by more than 70 percent or 756 sales o fresidential properties. However, with the globaleconomy swinging back and oil now north ofUS$100 a barrel Nielsen expects a resurgenceof Alberta buyers into the Kootenays.
“Our sales team says the number and quality of calls coming out of Alberta has increased substantially, compared to anytime from mid-2008 to late 2010, “ Nielsen said.
A recent survey by the Royal Bank fore-casts Alberta will lead the entire country in economic growth this year and next, and like-ly into the next decade. One telling stat: theaverage weekly wage in Alberta is $1,036 a week, almost one-third higher than the rest ofCanada.
And Albertans traditionally look to B.C. forrecreational property.
“You can golf, ski, and catch a large rainbow trout, all in one day in the Kootenays,” Nielsensaid. He notes that the ski hills of Panorama Ridge near Invermere and the amenities o fFairmont Hot Springs are close by Elk Park,with almost two-dozen golf courses within a30-minute drive.
Nielsen said The Ranches will attract a selecttype of buyer.
“The price range is for individuals with a pioneering spirit ready to embrace a rare oppor-tunity to own their own private ranch right atthe foot of the Rocky Mountains.”◆
Ranches at Elk Park: 200 acres with a private lake listed for $2.95 million.
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Turn key business in the busy community of Langenburg, SK located on the Yellowhead Hwy close to major potash expansion. 8,300 sq ft includes 6 lane bowling alley with licensed 56 seat restaurant, and 64 seat meeting/lounge area. Building and equipment in excellent condition with many new upgrades. $339,000 MLS 409520 Call Guy Shepherd at 306-434-8857.
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Demaine Hotel is located in central Saskatchewan close to Lake Diefenbaker. Business revenue lines include: 36 seat full service restaurant, self-cook steak pit, takeout pizza, two large suites, licenced beverage room (96), and VLTs. This establishment has a very loyal cliental and reliable seasonal traffic generating phenomenal returns. Asking $399,900. Exclusive!
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Future Development Potential!#12 - 2nd Ave, Clavet SK - 10 miles from Saskatoon, close to several potash mines. 1327 sq ft 2 bi-level 2 bedroom Nelson home, 2X6 construction. Well-built with concrete basement and pilings. Walkout basement with roughed in plumbing for bathroom, can be converted to legal suite or build another home/out-building on large lot. H/E furnace, H/E 50 gal hot water heater. Energy efficient windows, laundry room main floor. 24X22 workshop insulated & wired, heated w/ wood stove. Clavet has an excellent K-12 school, hockey rink, convenience store and service station.
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WESTERN INVESTOR MARCH 2012 www.westerninvestor.com Saskatchewan B27
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INVESTMENT OPPORTUNITYHighway 9 South, Hudson Bay, SKBuilding Size: 39,380 sq. ft. Land Size: 18.88 acres New renovations completed, doors and insulationSale Price: $1,900,000Contact: Eugene Hritzuk & Davin Heiser
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INVESTMENT OPPORTUNITY1301 Central Avenue, Prince Albert, SKBuilding Size: 26,400 sq.ft. above gradeTwo Storey Building w/basement and elevatorIncome: $253,753.50/year netSale Price: $2,195,000 Contact: Barry Stuart & Kelly Macsymic
FOR SALE - GREAT LOCATION3062 Millar Ave, Saskatoon, SKBuilding Size: 18,546 sq.ft. Land Size: 38,332 sq. ft. (0.88 acres)Sale Price: $2,750,000
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Spectra seeking a partner Estevan-based Spectra Credit Union is
looking for a merger partner or co-oper-ative partnership opportunities, according to Tim Schroh, the credit union’s chief executive officer.
“While Spectra is financially strong, the [Spectra] board recognizes the market pres-sures to stay competitive in an increasingly sophisticated and regulated industry,” he explained.
Spectra is the sixth-largest credit union in Saskatchewan, based on assets with $700 mil-lion, while Conexus, based in Regina, is the largest, with $3.4 billion in managed assets, followed by Affinity Credit Union in the Saskatoon region with $2.7 billion.
Schroh said Spectra is now of the size and strength to take advantage of its potential.
Spectra currently has 160 employees within its 10 branches with a headquarters office in Estevan. Spectra boasts a membership of more than 20,000.
Immigration drives growth Saskatchewan’s strong economy is draw-
ing workers and their families from around the world and the trend is perma-nently colouring the demographic picture of Canada’s third-fastest-growing province.
According to the latest census, population growth in the province hit 6.7 per cent over the last five years, compared with a negative growth rate of 1.1 per cent between 2001 and 2006.
Saskatchewan welcomed more than 28,000 immigrants between 2006 and 2011, about three times the number of the previous five years, as well as some 12,000 in-migrants from other provinces. In 2008, the province
was aiming for 2,800 nominations under the Saskatchewan Immigrant Nominee Program. This year, it is estimated that 4,000 immi-grants will apply under the program, which would translate into up to 12,500 people arriving, or more than 1,000 each month.
The majority of immigrants are from China, India and Pakistan, according to the province. Saskatchewan has also been successfully recruiting nurses from the Philippines, with 400 such immigrants registering since 2008.
In a statement to the Saskatoon Star Phoenix, Premier Brad Wall had a simple explanation for the population spurt.
“Saskatchewan is simply the best place in Canada to live, to work, to raise a family and to build a life,” said Wall. “More and more people are now discovering that and it is why our population is growing.”
The census showed a steady rise in Western Canada’s population with Alberta and B.C. leading the curve. More than 10 million Canadians reside in the West.
The western provinces added more than 766,000 residents between 2006 and 2011 and, for the first time, more people now live west of the Ontario than east of it, according to Census Canada figures.
Saskatoon offices lead sales pace Saskatoon’s entire commercial real
estate sector should remain strong this year, according to a forecast from Colliers International, but it is the office market that will lead the pace.
Tom McClocklin, president of Colliers McClocklin Real Estate Corp., said the vacancy in all asset classes will remain low in 2012, rental rates will be stable or even rise and development will continue in industrial, retail and office sectors.
“For the first time in nearly three decades we are entering a major expansion of the office market,” McClocklin told an audience in Saskatoon, where he presented Colliers International’s 2012 Canadian Real Estate Review & Forecast last month. “Traditionally we haven’t been an office city. We’ve been an industrial and retail city.”
Saskatchewan saw record-setting growth over the past five years,
with an increase in population of 65,224 being the highest since Statistics Canada began tracking population trends in 1956. The prov-ince’s population was 1,063,535 as of October of last year, the first time it has broken the one-million barrier since 1986.
But the latest Canada Census also shows that the growth – ranked third-highest among all provinces – is pri-marily in Saskatchewan’s urban areas.
Rural municipalities saw an overall population drop of .9 per cent, while resort villages fell 9 per cent. According to the census, Saskatoon grew 9.8 per cent, increas-ing to 222,189; Regina was up 7.7 per cent to 193,100; Prince Albert grew by 1,002 to 35,129; and Moose Jaw’s population increased by 1,142 to 33,274.
The rural exodus has been ongoing for years in the province, but according to Farm Credit Canada, the value of farms continues to accelerate.
Saskatchewan farmland values increased an average of 11.6 per cent during the first half of 2011, the highest average increase across Canada. This followed gains of 2.7 per cent and 2.9 per cent in the two previous reporting periods.
Values increased by an average of nearly 2 per cent per month between January 1 and June 30, 2011, the Farm Credit survey found.
“Demand significantly exceeded supply, as land in Saskatchewan is considered a safe investment and is currently providing a solid return” the report stated, adding that low interest rates have also helped sales.
The largest price increases occurred in the northwest and southeast areas of the province, which experienced good crops and strong commodity prices in the fall of 2010. Factors impacting this increase included out-of-province farmers relocating to Saskatchewan to purchase competitively priced farmland, larger local producers expanding their land base, oil and gas influence (especially in the Bakken oilfield) and continued demand for heavy clay soils.
Iconic image of abandoned Saskatchewan farmland: but prices are rising faster than anywhere else in Canada.
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New office space being built in the city is barely keeping up with demand, he said.
The downtown office sector had been slow until 2006 when demand and construction began to increase. By 2011 the downtown vacancy rate had fallen to just 2.5 per cent, among the lowest in Canada.
“Demand for office space has been excep-tional as existing tenants in Saskatoon require additional space and many new com-panies related to the resource and engineer-
ing sectors locate to our city,” McClocklin said.
While much of the city’s recent economic growth can be traced to/related to potash mines, McClocklin said there are other fac-tors at play. “We have multiple things driving our economy,” he said. “We have agricul-ture, uranium, diamonds, oil and gas, rare earth mineral plays and potential oilsands development.”◆
– With files from the Estevan Mercury
B28 www.westerninvestor.com MARCH 2012 WESTERN INVESTOR
The sawmill and planer mill development will employ up to 110 people directly when running at capacity and create many more jobs in har-vesting, hauling and reforestation, Wall said.
The mill startup was expected this year, to coin-cide with the re-opening of the Prince Albert pulp mill, about a 90-minute drive south, but now it is looking more like full operations will start in 2013. The Big River facility will be a major supplier of woodchip feedstock for the Prince Albert mill when it starts up.
Carrier president and CEO Bill Kordybansaid, “The Saskatchewan forest industry has a bright future ahead, and Carrier looks forward to being an integral part of it.”
“The mayor and community leaders were relentless in their efforts to see a sawmill pres-
ig River i s one o f the few Saskatchewan towns where the population declined in the last five
years, falling by about 100 people to 639, according to Census Canada, and a long drop from the 3,000 that made it a brief boom town 100 years ago. But some things aren’t measured in growth.
Quad or boat a few hundred yards from Big River’s small centre, and you are deep in the Great Canadian wilderness, not unlike 80 years ago when the entire town was sold for $20,000 after the only sawmill – and reason for exis-tence – went broke.
Today, big-game fishing and hunting – elk, deer and bear – enthusiasts spend thousands of dollars to fly into Big River and head for the 100 lakes and boreal forest that surround it. Wealthy Albertans are building summer cottages on lakefront lots that cost less than a new truck. But, as Doug Panter, a semi-retired cattle rancher and reeve of the Municipality of Big River, notes, more than tourism and recre-
ation is stirring in the “Gateway to the North” after the latest investment in forestry.
Panter said Big River’s declining popula-tion could be directly traced to the closure of the local sawmill in 2006, which cost 140 people their jobs. Many workers headed for Fort McMurray or southern Saskatchewan, some leaving their families at home. There was a brief flurry of hope two years ago when Quebec-based Eacom Timber Corp. bought the shuttered Domtar sawmill, but Eacom couldn’t make a go of it.
Eacom sold the mill on an “as is, where is” basis to B.C.-based Carrier Forest Productsfor $7.5 million in 2011. Last summer, Premier Brad Wall flew into Big River to announce Carrier would re-establish a mill complex.
SPOTLIGHT “Gateway to the North” welcomes back forestry (again) after decade of shutdowns, exits
WI STAFF
WESTERN INVESTOR
ence back in Big River,” noted Energy and Resources Minister Bill Boyd, a recognitionof a town that has come back from the brinkmany times before.
“Big River is not dead, for sure,” Panter said,which would be success in itself after the last few years. House construction has restarted – albeit less than half-a-dozen homes in the pastyear – and Panter said there have even beensome speculative land deals. Five years ago,Big River was offering lots for free to anyone who would build a house. Today, the city lotsare selling for around $15,000.
Recently, the town and surrounding munici-pality spent money to spruce up signage and waterfront walking trails to get ready for the tourist season. The town was also wired for high-speed broadband.
There are certainly retail opportunities in the town. It has a small grocery store and a few specialty and clothing shops, but most familiesdrive to Prince Albert or Saskatoon (480 kilo-metres round trip) for serious big-box shop-ping. Yet, with a new sawmill on the horizonand the fish still biting – you can catch fish from end of the Main Street – little Big River is angling for another century of survival.◆
Big River will have more than new signs.
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Population 639Average building lot $15,000Lakefront lot From $50,000Potential New sawmill to open; tourism
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REGIONAL ROUNDUP $55 billion copper mining strike seen as a potential “game changer” for The Pas
Please see Upgrades page B30
GEOFF KIRBYSON
WESTERN INVESTOR
he Pas may be sitting on a mining motherlode but some fear the town of 5,500 is not ready to handle it.
Initial geological reports of the Greenstone belt near the northern Manitoba community show significant potential – $55 billion over the next half-century is the number being thrown around – primarily of copper and zinc.
That’s more than enough to get local offi-cials pumped up about the future. Alan McLauchlan, the town’s mayor, isn’t predict-ing a 21st-century version of the California Gold Rush – substituting in copper and zinc, of course – but even if anything close to the mining potential is realized, there’s no doubt it will be a game-changer for The Pas.
“We hear those numbers and we’re position-ing ourselves for the impact of those numbers as a service centre and a residential hub for the mining sector,” he said.
“We’re going to shift from a one-sector town [in forestry] to a multi-sector town. We’re on the brink of some really good things.”
The mayor is predicting steady growth over the next five years and he and his council are taking steps to ensure the town beefs up its complement of doctors and other profession-als to ensure it can be a service-centre hub for the north.
“We want to be proactive on this. We don’t want to be, ‘God, it’s happening tomorrow. What do we do now?’ We’re warming up our crystal balls. It’s an exciting time for us up here,” he said.
Ed Huebert, executive vice-president of the Mining Association of Manitoba, said the mayor should be optimistic as scientific evi-dence points toward an extension of the ancient volcanic rock that is the basis of all the mines in the nearby Flin Flon and Snow Lake areas.
“It’s a fairly rare occurrence in this country,” he said. “It has very strong upside potential. It has the geological setting to be the next Snow Lake or Flin Flon mine. It’s great news. Now we’re trying to draw awareness to it and get some people drilling there and doing some exploration.”
If what he believes to be there becomes reality, the need for a significant number of mining-related jobs will be immediate in the town of 5,500.
“The mining sector has the highest-paying jobs of any sector in the province. Most mines have fairly small footprints but they can have a considerable amount of employment,” Huebert said. “We’re early days but very optimistic days.”
The news will likely divert some attention away from the town’s upcoming centennial celebra-tion this year as well as the 65th anniversary of its Trapper’s Festival, a February staple that features dog races, a beard-growing contest and a marathon snowshoe race. The town’s name reflects its trapping past: The Pas was short-
ened from the trading post of Fort Paskoyac. The Pas was incorporated in 1912,but its trad-ing history dates to around 1795.
Optimism about the future isn’t based solely on industry. The local campus of the University College of the North is currently undergoing a multimillion-dollar expansion, including the
construction of family residences at the school. Enrolment, which currently sits at around 400 students, is expected to increase by 5 per cent next year, McLauchlan said.
“When you’re looking at the development of a community, you have to have a strong educa-tional component. That brings high-paying jobs and students and we certainly support that,” he said.
Located about 630 kilometres northwest of Winnipeg near the Saskatchewan border, The Pas services a trading area between 15,000 and
20,000 people within a 100-kilometre radius.
But not everybody shares the mayor’s opti-mism. Ed Klimchuk, owner of Re/Max in The Pas, said he’d love it if a couple of new mines were to suddenly spring up but he’s wor-ried that the town doesn’t have the necessaryinfrastructure to support the growth.
“We wouldn’t be prepared to handle it. There would have to be some pretty major develop-ment. We’d definitely need more housing,” hesaid.
“Right now, the community is having a hardtime [meeting the need] with what we’ve got. Our vacancy rate is near zero. It’s tight, it’s really tight.”
He said The Pas lacks a serviced subdivi-sion that could provide water and sewer fornew homes. On top of that, there are no more than 15 business lots that are serviced and available.
“Everybody is investing their money in Winnipeg and Brandon,” he said. “It’s too bad we can’t get some of that investment. It’s pretty
“We’re warming up our crystal balls. It’s an exciting time for us”
TOP LEFT: The Pasquia River first carried traders and trappers into The Pas 200 years ago. TOP RIGHT: The Pas, 630 kilometres north-west of Winnipeg, is in the same prime mineral belt that has produced high-value mines at Snow Lake and Flin Flon.
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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
FRANK O'BRIEN Editor
Please forward this information directly to Frank O’Brien, Western Investor Editor at [email protected].
DONE DEALS
Please send us the following information:
B30 Manitoba www.westerninvestor.com MARCH 2012 WESTERN INVESTOR
Century-21 Westman.comBrandon, MB
Direct Line: 204-729-5074 Email: [email protected]
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“WE HAVE RESTAURANTS, GAS STATIONS, GROCERY STORES, INVESTMENT PROPERTIES, FOR SALE AND IF WE DO NOT HAVE IT WE WILL FIND IT.”
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from B29blue collar here.”
The average house in The Pas is a 1,100-to-1,200-square-foot bungalow with three bedrooms, a full basement and a garage with a price tag of about $122,000. That’s up from about $111,000 and $99,500 over the past two years, Klimchuk said. But supply is limited.
“If you were to come to town today, I’d have three homes to show you and they’re all $200,000 plus. For young people in the $120,000 market, we have no product. Nobody is selling,” he said.
The mayor said town officials are aware of the potental housing shortage and are cur-rently negotiating with developers to build up the housing stock.
Klimchuk said things are very quiet on the commercial side of things, too. He’s not sur-prised because Wal-Mart and Canadian Tirewere interested in expanding to The Pas a few years ago but were stymied in their efforts.
“We turned them away. We wouldn’t provide the land they wanted so they went to Flin Flon instead, which welcomed them with open arms. We get a lot of traffic headed to Flin Flon now,” he said.
McLauchlan said the optimism about the town’s future is rippling throughout the com-munity in a way he hasn’t seen in a long time.
“More than ever, people are starting to say, ‘We need to work on things, get together as a group and do what’s right for our town.’ Even if I wasn’t the mayor, I’d be pretty excited about
Population 5,500Average house price $122,000Apartment rental rate “Near zero”Main employer Tolko Industries (pulp and paper mill.)
what’s going on right now,” he said.The town is also spending on infrastructure.
A wellness centre, which shares the same roofas the town’s hockey arena and curling club,was opened two years ago. The full-sized gym-nasium features an indoor walking track, free weights and cardio equipment. There’s also anew 15-kilometre lighted riverside walkingpath in town.
“All of this is what makes our community attractive to other people and retains our cur-rent residents,” the mayor said.◆
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Mover franchise may save lives
All Two Men and a Truck moving trucks are now equipped with defibrillators as
part of the “Mikey on Board” program of the Mikey Network. Working with emergency medical services, Two Men and a Truck Canada drivers and staff have been trained to use a Mikey, a portable defibrillator that is credited with saving 12 lives across Canada.
The Mikey Network, a registered Canadian charity, is committed to helping people who experience sudden cardiac arrest. The use of a public-access defibrillator by trained respond-ers within the first moments can improve a heart attack victim’s survival rate by up to 75 per cent, according to the network. Having the machines in Two Men and a Truck vehicles increases the chances of making one accessi-ble when the unexpected happens, explained company spokesperson Dan Hopkins.
There are currently 63 Two Men and a Truck-branded vehicles on the road. Each moving truck has special logo signage indicat-ing there is a “Mikey on Board.”
“We hope we never have to use these Mikeys, but when you consider the physical
News, views and updates on Canada’s franchise industryDuring a time where the local pub
is trying to keep its head above water, Lower Mainland franchise Wings Restaurant and Pub is flying – and still gaining altitude.
A new location at 1618 Yew Street is opening in the spring of 2012, and
the management hopes to tap into the growing local nightlife.
Famous for – you guessed it – chicken wings, the franchise offers 20 different flavours of wings, each inspired by a unique global hotspot. Wings Restaurants and Pub has also recently updated its menu to add “spiced up” menu options.
Yew Street in Kitsilano, just off of the popular shopping destinations of West Fourth Avenue and West Broadway Avenue, is a budding zone for restaurants and the interest from franchises adds to this reputation. However, several longtime restaurants have closed down in the area recently. Wings, for instance, will take over space vacated by the venerable King’s Head Pub.
With six locations in Surrey, Abbotsford, Coquitlam, White Rock, Burnaby and down-town Vancouver’s Granville Street, Wings has covered almost every corner of the Lower Mainland.
No official information was available on the cost of a Wings Restaurant and Pub as of press time.
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Wings Restaurant and Pub taking over old King’s Head Pub site in Kitsilano.
nature of moving, it makes sense to have defibrillators on our trucks, in case our mov-ers or families involved in a move have a problem. So with our trucks on the road, we are now in a position to be able to respond should someone need help,” Hopkins said.
Two Men and a Truck, in business for over 25 years, currently operates in the United States, Canada and Ireland with 220 loca-tions. It is now moving into Western Canada, Hopkins said.
Average franchise costs are in the area of $300,000, which includes training, equip-ment and two trucks.
Small farmer eyes franchise Sunshine Coast gardener, mother and
entrepreneur Nicole Huska, 29, wants to grow the concept of small-scale urban farming into a British Columbia-wide fran-chise but she admits she first has to nudge back-to-the-land thinking into the busi-ness mainstream.
Urban farming has caught hold in Vancouver and across the province, but Huska notes that it is primarily small scale with an emphasis less on profit than on healthy food. Huska, who owns the two-acre Nicoles’ Farm at Halfmoon Bay, B.C., a 15-minute drive north of Sechelt, has sketched out a much wider business plan.
Huska envisions scores of homeowners turning over a portion of their property for fruit and vegetable production for a share of the harvest. A further incentive to land own-ers, she said, is that farming may qualify the property for a lower property tax rate.
Huska, with her partner, also owns a con-struction business, and explains she would provide deer-proof fencing, raised garden beds and the labour to grow and harvest the
Training session simulates using a defili-brator, now on board most Two Men and a Truck vehicles.
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food. There are already agreements in place with the independently owned Marketplace IGA in Gibson and Clayton Foods in Sechelt to “buy everything I can deliver,” Huska said.
“It will sell,” said Bob Hoy, owner of the Marketplace IGA. “I believe if she’s able to produce a good-quality product locally on the Sunshine Coast, we’ll be able to sell it no problem at a fair market price.” Hoy said gro-cers crave local produce all year long.
Huska estimates that her intensive small farming can yield up to $100,000 per acre in produce, based on sales to grocers and through local garden markets. By rotating vegetables with specialty herbs and using greenhouses, she said Nicole’s Farms would be an all-season venture.
Ward Teulon, owner of City Farm Boy, among the first and one of several small urban farmers in Vancouver, agrees it is possible to gross $100,000 from an acre of vegetables, but he cautioned that a large operation involv-
ing many landowners could be expensive and risky. Ward, who farms six gardens on Kitsilano residential lots and sells directly to customers from his own backyard, added that grocery stores pay far less than a farmer can earn dealing directly with consumers. “I can easily sell $10,000 to $15,000 in vegetables during the season,” said Teulon.
Typically, grocers will pay a producer 50 per cent to 70 per cent of the retail value.
Teulon once had 17 lots running across Vancouver, but found that the stress of deal-ing with owners and neighbours [“gardens are messy and we had complaints”] and paying for labour required more work than he was willing to handle.
“Most small [vegetable] farmers are not business tuned,” Huska, who plans to have 300 beds planted this year, said. “But just because you’re a small farmer doesn’t mean you have to be poor.”◆
– Compiled by Kevan O’Brien
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