MACDONALD COMMERCIAL Commercial Sales & Leasing, Property & Asset Management and Strata Management
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COMMERCIAL REAL ESTATE | FRANCHISES | BUSINESS OPPORTUNITIES $4.29 • OCTOBER 2018 • VOL33/10 RAPID GROWTH | 12 LRT, WALMART AIM FOR SURREY Action by Walmart and Amazon, light-rail transit reflect explosive growth south of the Fraser River TOP OFFICE CITIES | 16 TORONTO VS. VANCOUVER Vancouver has highest CHIEF RON GIESBRECHT office rents but downtown Toronto towers could be FFIRSTIRST NNATIONATION SSTEPSTEPS heading for zero vacancy UUPP WITHWITH 1110-ACRE10-ACRE CONTENTS Full index 3 IINDUSTRIALNDUSTRIAL PPARKARK Industrial nation 10 Surrey and the Valley 12 LLANDAND LLEASESEASES FORFOR 9977 YYEARSEARS | 1100 Revealing sale prices 14 Eastern giant 16 B.C. report 18 Victoria multi-family 20 Done Deals 22 PUBLICATIONS MAIL AGREEMENT 40069240 1 0 0 6 0 3 5 8 1 8 2 9 1 9 MACDONALD COMMERCIAL Commercial Sales & Leasing, Property & Asset Management and Strata Management. macdonaldcommercial.com 604.736.5611 Listings on Page A4 & A5 A2 | LOWER MAINLAND WESTERNINVESTOR.COM | OCTOBER 2018 PRIME MIXED-USE MIXED-USE FOR SALE FOR SALE FOR SALE - CAMPBELL RIVER REDEVELOPMENT SITE REDEVELOPMENT SITE 39541 QUEENS WAY FURNISHED ACCOMMODATIONS FULL SERVICE HOTEL 22222 LOUGHEED HIGHWAY, MAPLE RIDGE 3651 NO. 3 ROAD, RICHMOND SQUAMISH, BC 2814 W. 3RD AVENUE, KITSILANO, VANCOUVER CAMPBELL RIVER, BC • High profile location • Prime Richmond City Centre location • Multi-family / Commercial development site • Stylish rentals minutes from amenities • 89-room, fully renovated, full service hotel in • Easily accessible - 10 minute walking distance • Transit-oriented development site - short walk • Corner site • Top ratings from Trip Advisor, Expedia and more downtown Campbell River to Town Centre to Aberdeen Skytrain Station • 3.34 acres • Turn-key business with experienced PM • Well performing flagged hotel with recent renovation • Strong holding income with a fully operational • Excellent visibility to No. 3 Road means easy • Asking Price $7,200,000 • Excellent website and strong online presence hotel, entertainment lounge, pub & liquor store to lease for holding income • Price $6,575,000 (almabeachsuites.com) • 1.042 acre lot with spectacular oceans views • Potential for 200,000+ buildable sf development • Asking Price $9,800,000 • Adjacent to Ferry Terminal & Tyee Shopping Centre PETER GIBSON* BOE IRAVANI* | FRANCES WU BILL RANDALL* PHIL JOUBERT* BRETT AURA* FOR SALE - GEORGIAN PINES DEVELOPMENT OPPORTUNITY STRATA RETAIL FOR SALE - HIGH QUALITY FULLY LEASED MISSION COMMON MANUFACTURED HOME PARK IN PRIME ROCKLAND AREA AT JAMESON HOUSE MOBILE HOME PARK SHOPPING CENTRE 4086 STANDARD HILL ROAD, CRANBROOK, BC 1114 ROCKLAND AVENUE, VICTORIA, BC 840 & 848 W. HASTINGS ST, VANCOUVER CENTRAL OKANAGAN, BC 32471 LOUGHEED HIGHWAY, MISSION, BC • 102 home sites with potential for expansion • 7,200 sf • Ideally positioned in Vancouver’s Central • Mobile home park investment • Approx. 26,594 sf of retail space • 18 acres • Premium location one block from Business District • Additional development land • Corner property location along Lougheed Hwy. • Zoned R-MP Cook & Fort Streets • Flexible zoning for office and retail uses • 100+ Pads in a well maintained park • Sustainable income stream with long-term leases • Asking Price $4,850,000 • OCP designates greater density in multi-residential • Unique heritage & modern building construction • Excellent location • Anchor tenants include: Rexall, Tim Hortons, • Asking $1,750,000 • Tenants: Bonelli Jewellers, Daher Orthostyle Burger King, Panago and Pro-Oil Change KEVIN MEIKLE*** | EDGAR BUKSEVICS* DON DUNCAN* | CHRIS DRIVER* ELIZABETH J. MEARS | TIM SOMMER* BOE IRAVANI* BILL RANDALL* PETER GIBSON* | ERIC WALKER EDMONTON AREA HOTEL INCOME GENERATING STRATA STRATA OFFICE OR RETAIL FOR FOR SALE FOR SALE PORTFOLIO FOR SALE UNIT FOR SALE SALE IN THE HEART OF CHINATOWN SUNRISE HEIGHTS PLACE COURT ORDERED SALE FORT SASKATCHEWAN & LEDUC, AB 15240 HIGHWAY #10, SURREY 239 KEEFER STREET, VANCOUVER 2215 EAST HASTINGS STREET, VANCOUVER 20387 86TH AVENUE, LANGLEY • Recently built residential & retail rental building • 3.7 acre mixed-use development • 3 hotel, 300+ room portfolio in Greater Edmonton • Mixed-use retail / office development • Up to 10,029 sf • 37 rental suites • Superior location • High quality, newer construction buildings • Recently renovated salon • Private entrance lobby and elevator for • 7,268 sf of commercial space • Approximately 254,000 sf of proposed office users • Opportunity for branding • Long term tenanted strata unit with strong tenant • Asking Price $20,500,000 buildable space • Asking Price $980,000 • Ground floor retail opportunity on one of • Asking Price $14,300,000 Chinatown’s most prominent streets DON DUNCAN* | CRAIG HAZIZA** BRETT AURA* CODY BUCHAMER | PHILIP CHENG BOE IRAVANI* | FRANCES WU KYLE WILSON BILL RANDALL* | MICHAEL HARDY* OWN IN RAILTOWN FREESTANDING BUILDING INVESTMENT OFFERING PRIME VANCOUVER OFFICE/ FOR SALE 309 - 313 ALEXANDER STREET FOR SALE/LEASE LOT 1 & 3 - 3.2665 ACRES SHOP/WAREHOUSE AREA 38.4 - 78.4 ACRES VANCOUVER 12202 OLD YALE ROAD, SURREY 9807 196A STREET, LANGLEY 8162 ONTARIO STREET, VANCOUVER BURKE MOUNTAIN, COQUITLAM • 24 single-room occupancy units over three storeys • ±22,782 sf industrial/office space • Lot 1 is a vacant site currently utilized for storage • Development opportunity with holding income • 2 lots: 38.4 and 40 acres • Strong demand for this area from investors • Steel frame construction • Lot 3 improvements consist of 2,320 sf of office; • ±8,000 sf • Beautiful views and developers • 1.76 acre site area 3,947 sf of shop; 1,980 sf of covered storage dock • Fenced yard area with grade loading (3 doors) • Future residential development property • Secure in-place cash flow with potential to • Available May 1, 2019 • The properties are currently tenanted & detailed • ±39,300 buildable square feet or ideal estate lots reposition the asset income summary is available upon request • Asking Price $5,500,000 • Asking $3,250,000 per lot • Asking $4,575,000 • M3 Heavy Industrial zoning BRETT AURA* | BOE IRAVANI* MAX ZESSEL* | ERIC RICE WILLIAM N. HOBBS* GREG MILES | NOAH FREEDMAN BILL RANDALL* BURQUITLAM MULTI-FAMILY 36,050 SF OFFICE/WAREHOUSE FOR SALE - 10 ACRE UCLUELET CONFIDENTIAL INDUSTRIAL FOR SALE - 168.7 ACRES LAND OPPORTUNITY ON 1.45 ACRE PROPERTY MANUFACTURED HOME PARK INVESTMENT OFFERING WITH RENTAL INCOME SMITH AVENUE, COQUITLAM 19131 21ST AVENUE, SURREY CYNAMOCKA ROAD, UCLUELET, BC 2575 ALASKA HIGHWAY, FORT NELSON, BC • 43,486 sf of land with OCP designation for • Freestanding building in Campbell Heights • Whispering Pines MHP: 72 home sites & 5 RV sites • Fully tenanted 86,965 sf of office/warehouse attached residential Business Park • 1 undeveloped home site on 3.534 acres • 11,000 sf building on 168.7 acres • Proposed maximum density of 0.75 FSR • 28’ clear ceiling height • Opportunity to have 76 mobile home pads • Heavy power - 1,600 amp 600 volt 3 phase power • 158 acres available to use or lease • Contact listing broker for details • 3 dock and 3 grade loading doors through development & conversion • Professional offices/fully air-conditioned • Current lease rate is $273,900 net per annum • Extensive office build out on ground floor • Asking Price $4,150,000 • 52 on-site parking stalls for the building and 10 acres and mezzanine areas DON DUNCAN* | CHRIS DRIVER* • Asking Price $4,400,000 CRAIG W. BALLANTYNE* WILLIAM N. HOBBS* PATRICK GUNVILLE WILLIAM N. HOBBS* BILL RANDALL* FOR SALE FOR SALE FOR SALE ABBOTSFORD STRATA UNITS FOR SALE SILVERADO INN & SUITES SINGLE TENANT ASSET 1434 OLD CARIBOO HIGHWAY NORTHGATE MALL CONSTRUCTION UNDERWAY 10112 10TH STREET 1963 LOUGHEED HIGHWAY, COQUITLAM PRINCE GEORGE, BC 30,566 SF SHOPPING CENTRE 30722 MARSHALL ROAD, ABBOTSFORD DAWSON CREEK, BC • B1 - Business zone • 33,465 sf building on 114 acres (93 usable) • Anchored by Government Liquor Store • Unit sizes from 3,666 sf • 47 suites • Land 37,732 sf / Building 22,139 sf • Excellent highway exposure and access • Fully leased net income: approx. $496,000 • Rear grade loading • 5 CRU’s • NOI $331,743 or $14.98 psf • Very well constructed and maintained buildings • Located in the commercial core of Fort St. John • 25’ clear ceiling heights • NOI $226,594 • Price $9,200,000 • Site is gravelled and fenced • Asking $6,750,000 • Exposure to Marshall Road • $2,700,000 (8.4% Cap) • Asking Price $7,500,000 ERIC WALKER BILL RANDALL* BILL RANDALL* | RICK EASTMAN* ANDREW GREEN* ERIC WALKER 604 683 3111 / cushmanwakefield.com *Personal Real Estate Corporation / **Craig Haziza is licensed with CAH Realty Inc. and has a contractual relationship with Cushman & Wakefield ULC ***Kevin Meikle is licensed with K.H.M. Realty Ltd. and has a contractual relationship with Cushman & Wakefield ULC / ****Sean Ungemach is licensed with SBU Realty Advisors Ltd. and has a contractual relationship with Cushman & Wakefield ULC / E.&O.E.: This communication is not intended to cause or induce breach of an existing agency agreement. The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Cushman & Wakefield ULC VANCOUVER | LOWER MAINLAND | VANCOUVER ISLAND Contents | OCTOBER 2018 OPINIONS & FEATURES NEWS & DEALS WESTERN PERSPECTIVE 6 Taxman to share info with lenders? 18 Frank O’Brien, Western Mortgage insurer seeks income evidence Investor editor, pleads for Done Deals governments to not disrupt What sold and for how much in Western Canada 22 Canada’s record-breaking commercial real estate pace HOME SALE PRICES EXPOSED