MACDONALD COMMERCIAL Commercial Sales & Leasing, Property & Asset Management and Strata Management

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 NATIONNATION STEPSSTEPS heading for zero vacancy UUPP WITHWITH 1110-ACRE10-ACRE CONTENTS Full index 3 IINDUSTRIALNDUSTRIAL PPARKARK Industrial nation 10 Surrey and the Valley 12 LLANDAND LEASESLEASES FORFOR 9797 YEARSYEARS | 1010 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 14 Western Investor’s sister portal rew.ca jumps the gun by releasing home sale price information ahead of Competition Tribunal ruling ADVERTISING DIRECTORY VICTORIA LANDLORDS IN LIMBO 20 Capital rental market is going Lower Mainland 2-19 great now but looming city Services 19 and provincial legislation Sea-to-Sky 19 has some landlords and Vancouver Island 20-23 developers hearing footsteps MORE OPPORTUNITIES SECTION B COVER FEATURE Chief Ron Giesbrecht at the Kwikwetlem Business Park in Port Co- 10 Interior B.C., Alberta & other provinces, recreation quitlam: 110 acres of reserve land slated for industrial. | ROB KRUYT

Call: 604.669.8500 or 1.800.661.6988 | Fax: 604.669.2154 | Email: [email protected] or visit us online at: www.westerninvestor.com | 303 WEST 5TH AVENUE, VANCOUVER, B.C. V5Y 1J6

Danny Camele PREC Real Estate Professional 604 518 2025 DannyCamele.com Personal Real Estate Corporation

SALES

CALL Don Munro [email protected] SUTTON GROUP 604-817-7338 www.donmunrorealestate.com WEST COAST REALTY ACREAGE ACREAGE ACREAGE COMMERCIAL/INDUSTRIAL LANGLEY 6681 Glover Road KEREMEOS LANGLEY • 4 Bedroom, 2 Storey Residence Built “1909” St. Laszlos Vineyard 4140 200th Street 19645 80th Avenue • +/- 93,000 Sq.Ft. of Barns • 9.331 Acres beautiful view property • 10,207 Sq. Ft. Lot • +/-33,000 Sq. Ft. Of Loft Space • One of BC’s oldest wineries and one of the original six • Good central location • 0.25 Acres • Wine shop/tasting room • +/- 952.91 Sq. Ft. of Retail • Potential for Land Development (NCP) Latimer • 3-1/2 acres Parking • 2 Bedroom Home, Quonset Building and 8 acres of grapes • +/- 1,071.09 Sq. Ft. of Storage, Lunchroom & Maintenance Room • +/-1,005 Sq. Ft. One Storey Home on a crawl space • Zoning RU-3 • Highway #3 road frontage $1,250,000 • +/-1,364 Sq. Ft. Second Floor, 2 Bedroom Suite • Natural Gas Forced Air Heat • NCP shows Commercial Village Zoning $1,899,900 • Close Proximity to Everywhere ROBERTS CREEK • Surface Well $3,999,000 or FOR LEASE • Renovated in 2000-2003 2525 Lower Road CHILLIWACK $999,000 6895 & 6897 272nd Street • 4.1 Acres Waterfront Property 8558 Chilliwack Mountain Road • 265’ of waterfront • 10.687 Acres • 32.85 Acres Private Estate Property • less than 1/2 hour drive from ferry 1843 264th Street • 2 Titles – 3 residences, pool, storage, garages, • fi ve bedrooms each with own en-suite • Concept A • 5.75 Acres of fl at fully fenced land stables & paddocks • 4,950 Sq. Ft. One and a Half Storey Home - Landlord will be using the Northern Most Portion • Main House, 6 Bedrooms, 5 Bathrooms – • Cedar Deck facing Ocean Fronting Chilliwack Mountain Road • +/-2,137 Sq, Ft,, 3 Bedroom Main House 7,974 Sq.Ft. • Beautiful view property $3,998,000 - 3 additional lots - All fronting Aitken Road • +/- 812 Sq. Ft. 2 Bedroom Suite • Second Home, 3 Bedrooms, 2 Bathrooms – - Aligned with current city zoning M3(General • +/- 990 Sq. Ft. 2 Bedroom Trailer 4,091 Sq. Ft. Industrial) and M4(Heavy Industrial ) • Equestrian Residence, 2 Bedrms, 2 Bathrms – COMMERCIAL/INDUSTRIAL • +/- 2,428 Sq. Ft. Shop with one 16’ door & two 8’ doors • Concept B 1,423 Sq.Ft. - Landlord will be using the Northern Most • +/- 600 Sq. Ft. Greenhouse with raised beds & irrigation • 4 Car Garage – 2,392 Sq. Ft. Fill Site • 10 Stall Stables with Feed Storage, Offi ce, Tack • 600,000 cubic meter fi ll site on acreage property Lot Fronting Chilliwack Mountain Road • +/- 1,000 Sq. Ft., 2 Bedrm (& Den) Double Wide Mobile - 4 additional lots Room and Grooming Area • Great exposure $2,198,000 $10,800,000 - 2 fronting Aitken Road, 2 accessed off cul-de-sac • Highway access - Rezoning needed to M1(Light Industrial) and/or 26378 36th Avenue CHILLIWACK • Call for Confi dential Details M2(Service Industrial) CALL US FOR ALL THE DETAILS • 2.51 Acres situated in close proximity to the Trans- SPRUCE GROVE, ALBERTA Canada Highway at the 264th Street Exchange 51140 Ruddock Road • 27.097 Acre Retreat 26515A Township Rd 514 43775 Industrial Way • +/-10,600 Sq. Ft. Building • Private corner property would be the perfect place • Signifi cant amount of road frontage • 35.25 Acre nursery with retail sales centre to build your dream estate • +/-23,410 Sq. Ft. of Greenhouse Space • +/-6,080 Sq. Ft. Main Floor Warehouse/workshop • City of Chilliwack’s OCP supports development of this • +/-6,735 Sq. Ft. of Seasonal Growing Houses • +/-320 Sq. Ft. Main Floor Offi ces • Features a +/-1,928 Sq. Ft. home, 2 + 2 Bedroom area as part of the Eastern Hillsides expansion with a • Principal Residence is +/- 2,956 Sq. Ft. home (Full Base- • +/-3,555 Sq. Ft. Second Storey Offi ces over 2 fl oors proposed zoning of 99% R-EHP and 1% EC-EHP ment with 4 Bedrooms & 2 Bathrooms) • +/-1,824 Sq. Ft. Welding Lean-To $1,499,000 • 16’ x 56’, 2 Bedroom mobile home • Lots of Outdoor Storage Area and large parking lot $1,995,000 $1,250,000 CALL FOR LEASE RATES ✓ VALUE FOR $ ✓ GOOD RETURN ✓ TENANT COVENANT ✓ UPSIDE ✓ CAREFREE A4 | LOWER MAINLAND WESTERNINVESTOR.COM | OCTOBER 2018

Vancouver 604.736.5611 MACDONALD COMMERCIAL Fraser Valley 604.542.2444 REAL ESTATE SERVICES LTD. [email protected]

ACREAGE ESTATE MIXED-USE DEVELOPMENT SITE 558.86 ACRE DEVELOPMENT SITE 4 LOT ASSEMBLY - CAMBIE CORRIDOR

WEDGEWOOD STREET

EDMONDS STREET SALE SALE SALE SALE

5050 McCulloch Road, Kelowna, BC 763 &7767 Edmonds Street, Burnaby, BC 3700 Block Otter Point Rd, Sooke, BC 651, 665, 679 & 699 West 29th Ave, Vancouver, BC • Fully serviced acreage estate, adjacent to the award-win- • 143 +/- feet of frontage on Edmonds & Wedgewood • Designated Residential in OCP • Designated for townhouse development in Phase ning Gallagher’s Canyon Golf Course, & numerous interna- tionally acclaimed wineries & vineyards. Each lot features one • Total Lot Size: 25,985 +/- sqft • 24 miles west of Victoria 3 of the Cambie Corridor Plan acre of private & farmable land &a unique opportunity • FSR: 2.20 maximum • Views of Salish Sea & Olympic Peninsula • 26,118 sqft site to cultivate the perfect vineyard or orchard. • Asking Price $8,800,000 • $9,800,000 • Asking Price: $19,600,000 Matt Nugent*, Edward Chiu, Cynthia Dong* 604.518.8230 Nick Goulet* & Stuart Wright* Chris Midmore, Brian Tattrie Edward Chiu, Matt Nugent* Eric K. Poon*

MULTIFAMILY DEVELOPMENT SITE 12- SUITE APARTMENT WESTSIDE 12 SUITE APARTMENT BUILDING 86.5 ACRES AGRICULTURAL LAND

SALE SALE SALE SALE

210 Co-Op Avenue, Oliver, BC 620 Pine St, Nanaimo, BC 1422 West 73rd Avenue, Vancouver, BC Duck Lake Road, Powell River, BC • 10,593 SF lot walking distance to Downtown Nanaimo • 4.038 Acre of Riverfront Site - First phases of the de- • Site Size: 7,705 SF • Gently Sloping South Facing Acreage with Water • R14 Zoning - medium density multi-family residential velopment SOLD OUT before construction completion! • Suite Mix: 10 x 1-bedrooms / 2 x bachelor • Opposite Marpole park w/ laneway access Views Adjacent Myrtle Point Golf Course • RH2 Zoned • 0.90 FSR Density Total Buildable • 0.65 FSR • 67’ frontage • 10 km south of Powell River Area: 158,305.75 SF • $2,700,000 • $1,988,000 • Price: $4,500,000 • $1,280,000

Dan Schulz* & Chris Winckers 778.999.5758 Dan Schulz* & Chris Winckers 778.999.5758 Andrew JD Scott* 604.655.8122 Andrew JD Scott* 604.714.5524

STRATA RETAIL INVESTMENT OPPORTUNITY COURT ORDERED SALE INVESTMENT/DEVELOPMENT SITE GREATER VICTORIA BREWERY ELECTRONIC AVE ELECTRONIC

PRICE REDUCED SALE SALE ST. JOHNS STREET SALE

1500 Hornby St, Vancouver, BC 3082 St Johns Street, Port Moody, BC Victoria, BC Offered at $650,000 • Located at Hornby St & Beach Ave Central Okanagan Regional District • 279 Acres residential/recreational property, Lake • Location: Moody Centre Skytrain Transit-Oriented Area • 75 Seat Liquor License - Indoor Lounge & Outdoor Patio • 2 strata units joined • Wholesale Distribution Agreements in Place with Signiﬁcant Okanagan Waterfront • Corner lot, fronting main St Johns Street • 1,540 SF • 13,131 SF land size, 2.5 base FSR + density bonus potential Growth Potential • High-Proﬁle location with 10 Year Lease • Asking $2,950,000.00 • Value of Equipment, Hardware & Leasehold Improvements • Leased until Sept 2019 Asking $1,788,000 • Contact: 778.881.6204 or 604.655.8122 Exceeds Asking Price Brian Tattrie & Edward Chiu 604.714.4783 Brian Tattrie & David Jurome 604.714.4783 Fay Tseng* & Andrew JD Scott* Hans Van de Kamp 250.704.8275

HUSKY GAS STATION & PROPERTY APARTMENT & DEVELOPMENT SITE BC INTERIOR – TOWNHOUSE COMPLEX ISLAND MARINA

SUBJECT

SALE SALE PRICE REDUCED SALE

13916 Grosvenor Rd, Surrey, BC 1030 Harwood St, Vancouver, BC 32 Units Townhouse Complex Island Marina Price: $5,000,000 • 7,156 SF Mixed Use Freestanding building • 3 Storey with 30 Suites - Downtown Vancouver • Includes Commercial Lease Tenants – Solid NOI • 2 and 3 bdrm suites – Tight rental market • Lot: 21,453 SF • Site Size: 12,969 SF (99’ x 131’) • High-Proﬁle Downtown Waterfront Location • Cashﬂow over $500,000 & great revenue from gas station • Zoned RM-5A Multiple Family • Numerous recent updates • Over 3,200 Lineal Feet of Rentable Moorage • Asking Price $5,788,000 • Assessments: $23,390,100 • $2,495,000 – 7% Cap Rate • Major Upgrades: Concrete Docks, Plumbing, Electrical Razi Mohamed* 778.879.9407 Cynthia Dong* 604.518.8230 Bruce Long* 604.312.2000 Hans Van de Kamp 250.704.8275

WATERMARK BEACH RESORT MULTIFAMILY SITE – 25 ACRES 9 UNIT APARTMENT COMPLEX VICTORIA WESTSHORE WATERFRONT

SALE SALE SALE SALE

15 Park Place, Osoyoos, BC Terrace, BC – Residential Subdivision Prince George, BC Commercial Retail/Mixed-Use Land & Building • 4.13-acre beach resort in Osoyoos • 2-storey, 8,400SF Waterfront • Offer includes 30 residential & 14 commercial • Mostly flat site with services to property • Cedarwood Manor is a well managed investment strata lots, 16 leased marina slips & an experienced • Multifamily development potential property located a short walk from the University • Nestled into a New Multi-use Resort Village management company • The property features 153 • Flexible Zoning – 650 Feet of Shoreline • Price: $4.75 M Hospital and numerous other amenities. suites, restaurant, lounge, outdoor pool w/ • $2,250,000 waterslide etc. & over 1,000 feet of sandy beach front Price: $975,000 Bruce Long* 604.312.2000 Hans Van de Kamp, Edward Chiu, Matt Nugent* Cynthia Dong* 604.518.8230 Bruce Long* 604.312.2000 Chris Midmore, Brian Tattrie

macdonaldcommercial Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and .com without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice. *Personal Real Estate Corporation OCTOBER 2018 | WESTERNINVESTOR.COM LOWER MAINLAND | A5

355 Burrard Street, 14th Floor Vancouver, British Columbia V6C 2G6 INVESTMENT PROPERTIES FOR SALE +1 604 998 6001 jll.ca

2060 Manning Avenue 1030 Cecile Drive 705 Birch Avenue 1727 William Street Port Coquitlam, BC Port Moody, BC Penticton, BC Vancouver, BC

FOR SALE FOR SALE FOR SALE FOR SALE

• 22 unit value-add • Easy access to Port • 23.4 acres with three • Attractive holding income • 11 units - all 2 bedroom • Prime A+ Penticton • Trendy location in the condo quality standards opportunity Coquitlam Station and the separate lots with an NOI of $2.94M • 9,265 sf corner lot location vibrant Commercial Drive • " 2/" 0%Ɲ,4+! • Ideal suite mix of 50% two West Coast Express • 19 residential buildings • Underlying redevelopment • Concrete block • Numerous building neighbourhood income lending to bedroom units • 200 rental townhomes potential construction upgrades completed • Meticulous renovations to #3,2/ )"Ɯ++ &+$ [email protected] [email protected] [email protected] [email protected] 1035 Howie Street 7265 Arcola Street 325 Ward Street 170 West 5th Avenue Coquitlam, BC Burnaby, BC New Westminster, BC North Vanoucver, BC

SOLD SOLD SOLD SOLD

• Over $1.1M in Cap Ex • Upside potential available • 48 units located in the future up zoning • Title held in bare trustee • Proven value-add • 18 rental unit close to • Exceptional CMHC recently invested with proven renovation developing Highgate • 40% renovated, with value corporation program with 22/57 suites Lonsdale Quay & Seabus Ɯ++ &+$-,1"+1&) • 70% of units renovated program on remaining neighbourhood add potential on remain • Over $1,000,000 in recent renovated averaging a • Over $1,100,000 in recent • Held in Bare Trustee units • 31,000 sf lot is ripe for unit renovations capital improvements 45% increase in revenue capital expenditures corporation [email protected] [email protected] [email protected] [email protected]

ƵƐŝŶĞƐƐĂŶĚZĞĂůƐƚĂƚĞKƉƉŽƌƚƵŶŝƚǇͲ ;ďƵƐŝŶĞƐƐĂǀĂŝůĂďůĞƐĞƉĂƌĂƚĞůǇͿ ^ƵƌƌĞǇ͕ RECYCLE BUSINESS OPPORTUNITY ZĂƌĞŽƉƉŽƌƚƵŶŝƚǇƚŽŝŶǀĞƐƚŝŶĂůĂƌŐĞ Great patented sytem. ŵĂŶƵĨĂĐƚƵƌŝŶŐ͕ĚŝƐƚƌŝďƵƚŝŽŶĂŶĚƌĞƚĂŝůĞƌ Clean, efﬁ cient & odor-free. ŽĨƉůƵŵďŝŶŐĨŝǆƚƵƌĞƐ͘ Total cost approx. $6 mil. ,ŝŐŚůǇƉƌŽĨŝƚĂďůĞďƵƐŝŶĞƐƐǁŝƚŚŚƵŐĞƉŽƚĞŶƚŝĂů͘ нͬͲ Ϯ͘ϮϴĂĐƌĞƐŝƚĞǁŝƚŚхϱϴ͕ϬϬϬƐĨĨĂĐŝůŝƚǇ HAVE BUYERS FOR... ƉůƵƐϮĂĚĚŝƚŝŽŶĂůƐŚŽǁƌŽŽŵƐ͘ • 5 to 10 acres, S. Surrey to build a private school. • Res. and industrial dev. properties. ĂůůŵĞĨŽƌŵŽƌĞŝŶĨŽ͊ • 5 to 6 acres industrial wih rail access. DŝŬĞ'ƵŝŶĂŶͲƌŽǁŶĞʹ ϲϬϰͲϲϳϱͲϱϮϱϴ Ray Lewis PREC Sutton Group-West Coast Realty Langley /ŶǀĞƐƚŵĞŶƚƐ͕>ĂŶĚƐƐĞŵďůŝĞƐΘDƵůƚŝ&ĂŵŝůǇ,ŽƵƐŝŶŐ^ƉĞĐŝĂůŝƐƚ ŵĂŝů͗DŝŬĞ͘'ƵŝŶĂŶƌŽǁŶĞΛDĂƌĐƵƐDŝůůŝĐŚĂƉ͘ĐŽŵ 604-812-9733

Vancouver 604.736.5611 MACDONALD COMMERCIAL Fraser Valley 604.542.2444 REAL ESTATE SERVICES LTD. [email protected]

LOWER MAINLAND DEVELOPMENT SITES DEVELOPMENT SITE IN LAKE ERROCK FOR SALE MissionMMii ion Vancouver LOUGHEEDLake HIGHWAY Errock FRASER VALLEY PARCEL G

DEVELOPMENT LAND Mission PARCEL D LOOKING FOR 124 Acres Lake Errock SALE DEVELOPMENT LAND “MISSION” • Potential Development - Zoned to allow 10-acre Development Site parcels (potential 12 X 10-acre Lots) • Land in neigh- Have buyers looking for small acreage development sites. Under $22,000/ acre bourhood rezoned and subdivided into 5-acre parcels Seeking land suitable for subdivision into small acreage (potential 20- 5-acre lots)• Neighbouring property home sites RU-16 seeking rezoning for single family lots. • 15 miles from Bob Scragg* 604.290.2906 Bob Scragg* 604.290.2906 Central Mission, off Lougheed Highway on route to Taylor Scragg 604.773.7873 Taylor Scragg 604.773.7873 Harrison Hot Springs •Asking price $2,700,000

experience. Western Canada’s largest integrated real estate ﬁrm.

*Personal Real Estate Corporation macdonaldcommercialmacdonaldcommercial.com.com A6 | LOWER MAINLAND WESTERNINVESTOR.COM | OCTOBER 2018 Keep government hands off commercial real estate COMMENT | Anyone who thinks all three levels of politicians are not looking at the surging commercial PUBLISHER: Doug Foot sector as a tax and regulatory target is dreaming EDITORIAL DIRECTOR: Joannah Connolly EDITOR: Frank O’Brien wo years ago Canada’s commercial real estate deal this sector as a tax and regulatory CONTRIBUTING WRITERS: Nelson Bennett, Tanya residential real estate WESTERN year is pegged at a record high of target is dreaming. Commisso, Thomas Forr, Arthur Klein, Geoff market was a world lead- PERSPECTIVE $9.6 million. In Vancouver and other big cit- Kirbyson, Glen Korstrom, Peter Mitham, Frank T O’Brien, Hayley Ritchie er as far as investors were con- Vancouver welcomed $3.2 ies it is translating into soaring PROOFREADER: Meg Yamamoto cerned. Housing prices were billion in transactions in the development fees. Provincially, PRODUCTION: Darko Isic, Arslan Sultan surpassing record highs, the was transacted every month, up second quarter, an increase of there is noise about extending ADVERTISING DIRECTOR: Lynn Fry rental vacancy rate was tight 38 per cent from the quick pace 91 per cent compared with the the foreign-buyer tax, now only ADVERTISING SALES: Lorena MacDonald, David Witherspoon and annual capital appreciation a year earlier. The first half of five-year average, second only on residential, into the multi- ADVERTISING SALES CO-ORDINATOR: Angela Foster was in double digits while in- this year rang up $26.8 billion to Toronto. Vancouver also re- family market, perhaps even into CIRCULATION: Angela Foster terest rates were at record lows. in deals, an all-time high for a corded the largest price increase all commercial sectors. The fed- NEWSSTANDS: Globe Distribution Services PRINTED: Foreign investors couldn’t get half-year period. in North America for down- eral government, meanwhile, In Canada at Kodiak Western Investor is published monthly by enough. And it is a broad-based boom. town prime office space and the stumbles through trade talks and RE Weekly Limited Partnership Then the government stepped Calgary’s long-suffering office world’s largest rental increase resource developments, appar- VANCOUVER HEAD OFFICE: 303 West 5th Avenue, in. Within a year Vancouver and sector recorded one of the two for prime industrial and logistics ently doing everything it can to Vancouver, B.C. V5Y 1J6 Toronto home sales were down biggest transactions in the coun- space, according to CBRE. discourage foreign capital from SUBSCRIPTIONS AND ADVERTISING SALES: Tel: 604-669-8500 Fax: 604-669-2154 35 per cent and national housing try in the second quarter. Ed- Normally sleepy Montreal flowing into Canada. Canada/U.S. toll-free: 1-800-661-6988 values had dropped 12 per cent, monton had its best quarter ever, posted commercial real estate Commercial real estate is now Canadian publications mail product sales agreement all without benefiting rental recording $1.49 billion in com- sales of $1.7 billion in the three- about the hottest spot in the #40069240, GST #105655567 Copyright 2018. While every effort is made to tenants. mercial real estate investments, month period. Canadian economy. It will re- ensure the accuracy of articles and advertising This year commercial real es- a 51 per cent increase from the So what could possibily go main so only if governments can that appear in each edition of Western Investor, ■ the publisher may not be held responsible for any tate is hitting new highs after previous quarterly record. wrong? keep their mitts off it. errors or omissions that may from time to time coming off a record performance Vancouver and Toronto are Government. occur. No part of this publication may be reprinted FRANK O’BRIEN in any medium without the express written in 2017. In the second quarter of posting the lowest office va- Anyone who thinks all three permission of RE Weekly Limited Partnership. 2018 alone, more than $5 billion cancy rates in North America. levels of politicians are not look- Editor worth of commercial real estate Across Canada, the average ing at the surging commercial [email protected] ADVERTISING DEADLINE November 2018 issue: NEXT MONTH: FIVE TOP TOWNS FOR REAL ESTATE INVESTORS; CLOSE-UP ON KOOTENAYS-ROCKIES October 9, 2018

HQ COMMERCIAL 320 - 1385 West 8th Ave www.hqcommercial.ca Vancouver, BC V6H 3V9 office 604 899 1122

MULTI-FAMILY MULTI-FAMILY MULTI-FAMILY MULTI-FAMILY MULTI-FAMILY NEW NEW UNDER CONTRACT

AVESTA APARTMENTS TRIUMPH APARTMENTS MOUNT TOLMIE RIDGE APARTMENTS CEDAR CREST MANOR 2525 YORK AVE, VANCOUVER 1629 St. Georges Ave, North Vancouver 2115 Triumph St, Vancouver 107-suite rental apartment building 1569 W 12th Ave, Vancouver 10 rental units on 50’ x 120’ lot Totally rebuilt-22 large luxury suites 18-suite apartment building 50% freehold interest ~ 6 acres 10 suites in South Granville Development potential $12,000,000 $6,150,000 $10,800,000 $6,650,000 $5,595,000

David & Mark Goodman*, Cynthia Jagger* Mark Goodman*, Cynthia Jagger*, Sam Emam* David & Mark Goodman*, Cynthia Jagger* David & Mark Goodman*, Cynthia Jagger* Dean Thomas*

MULTI-FAMILY MULTI-FAMILY MULTI-FAMILY MULTI-FAMILY DEVELOPMENT SOLD SOLD SOLD SOLD

BONNIE BRAE APARTMENTS TUDOR MANOR 1537 BURNABY ST, VANCOUVER WESTVIEW MANOR LOUGHEED LAND ASSEMBLY 1955 Western Dr, Port Coquitlam 121 W 21st Ave, North Vancouver West End apartment building featuring 1210 Seventh St, New Westminster 21938-22000 Lougheed Hwy (1.24 acres) 65 suites on a 1.5- acre site 29-suite apartment building 24 suites (including penthouse) Renovated 16-suite apartment building Approx. 97,353 SF potential buildable $13,500,000 ($208k/unit; 3.0% cap rate) $10,500,000 $9,550,000 $5,760,000 $5,778,000

David & Mark Goodman*, Cynthia Jagger* David & Mark Goodman*, Cynthia Jagger* David & Mark Goodman*, Cynthia Jagger* David & Mark Goodman*, Cynthia Jagger* Dean Thomas*

DEVELOPMENT RETAIL RETAIL/OFFICE OFFICE WAREHOUSE SOLD NEW

METROTOWN HIGH DENSITY SITE MAVIS COURT 2899 COMMERCIAL DR, VANCOUVER 300-370 GOSTICK PL, NORTH VAN 12205 INDUSTRIAL RD, SURREY 6675 & 6691 Dow St, Burnaby 23343 Mavis Ave, Fort Langley Investment opportunity. Excellent corner Flex-style office building well positioned Well located stand alone I-L zoned Site size 35,580 SF. Up to 6.3 FSR 8 strata-titled retail units exposure for high visibility to traffic in central North Shore industrial property. Easy access to Hwy Call for price $4,390,000 $1,388,000 Call for price $1,450,000

David & Mark Goodman*, Cynthia Jagger* Mark Goodman*, Cynthia Jagger*, Sam Emam* Dean Thomas* Scott Smith Dean Thomas*

Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice. *Personal Real Estate Corporation OCTOBER 2018 | WESTERNINVESTOR.COM LOWER MAINLAND | A7

avisonyoung.com A Different Approach 604.687.7331 to Real Estate Solutions

55% SOLD

LEASE/SALE LEASE/SALE FOR SALE FOR SALE

BENCH AT 353 RAILWAY STREET 16160 RIVER ROAD 43 WEST 6TH AVENUE INTRAURBAN BRENTWOOD VANCOUVER, BC RICHMOND, BC VANCOUVER, BC BURNABY, BC • Modern Railtown development available Q1 2020 • 36,200 sf manufacturing facility on 4.40 acres • Coming Soon - Strata Office/Industrial/Restaurant space • Small-bay light industrial strata units • 4,042 - 35,050 sf available featuring water and mountain views • Potential for rail spur access • 2,000 - 10,000 sf units in a 52,700 sf building • Flexible sizes from 2,700 sf • Private balconies on each floor • Asking Price: $14,950,000 • Located in the heart of Mount Pleasant • www.intraurban.ca/brentwood Jake Luft* / Justin Omichinski* / Nabila Lalani Russ Bougie* / Craig Kincaid-Smith* (Colliers) Struan Saddler* / Jason Mah* Ryan Kerr* / Kevin Kassautzki

FOR SALE FOR SALE FOR SALE FOR SALE

OAKLEAF APARTMENTS 34334 - 34366 FORREST TERRACE 8338, 8346, 8362 NOBLE ROAD CEDAR COAST SOUTH SURREY 8755 OAK STREET, VANCOUVER, BC ABBOTSFORD, BC CHILLIWACK, BC SURREY, BC • 15-unit rental apartment building with rental upside in Marpole • 43,640 sf of office and warehouse on 1.88 acres • Two fully leased commercial buildings on 0.955 acres • Large bay strata warehouse units up to 64,104 sf • Potential for a 6-storey, 2.50 FSR rental apartment development • Significant investment upside and owner occupier opportunity • Opportunity to increase net operating income • Campbell Heights Business Park location • Asking Price: $4,750,000 ($316,667 per unit) • Minutes from Sumas US Border Crossing • Future redevelopment potential • Available Q3 2019 Carey Buntain / Rob Greer* / Chris Wieser / Winnie Ng Michael Farrell / Rob Greer* Daniel Lee* / Michael Buchan* Joe Lehman / Garth White* / Ryan Kerr* / Mackenzie Leyland AVAILABLE IMMEDIATELY

Lougheed Highway

FOR SALE FOR SALE FOR SALE FOR SALE

1130 & 1132 W 15TH STREET 103, 104, 107 & 108 - 2411 DOLLARTON 111 - 7717 BEEDIE WAY 28730 94TH AVENUE NORTH VANCOUVER, BC HIGHWAY, NORTH VANCOUVER, BC DELTA, BC MAPLE RIDGE, BC • Multi-tenant industrial building in North Vancouver • All units are currently combined for 7,344 sf • 10,066 sf corner warehouse unit • 4.47 acre site with M-2 Industrial Zoning • Ideal opportunity for an owner/user or investor • Vendor will enter into a five year lease-back • Located in Tilbury’s newest strata development • 43,600 sf building • Located 2 blocks from Marine Dr. & 1 block from Pemberton Ave. • Asking Price: $3,892,320 • New construction, available July 2018 • Asking Price: $7.5 million Matt Thomas* / Jennifer Devlin Terry Thies* / Ian Whitchelo* Joe Lehman / Garth White* / Ryan Kerr* / Mackenzie Leyland John Eakin

FIRST AVENUE

Potential to assemble up to 12,000 sf AD

OUGHEED HIGHWAY/ BC HIGHW FOR SALE FOR SALE FORFOR SALE SALE FOR SALE GILMORE AVENUE AY 7 433 - 435 E 3RD STREET 5413 271ST STREET 3890 FIRST AVENUE 31 & 37 E 5TH AVENUE NORTH VANCOUVER, BC LANGLEY, BC BURNABY, BC VANCOUVER, BC • 6,000 sf lot with further land assembly potential • 33,829 sf of office, warehouse, shop and mezzanine • 5,759 sf freestanding industrial building • Ideal for owner user/investment purpose • Designated medium density residential Level 5 • 2.24 acre lot • M3 Zoning (Heavy Industrial District) • Can be purchased separately (approx. 8,700 sf of space) • Allows for low-rise apartment construction up to 4 stories • Close proximity to Lougheed Highway/BC Highway 7 • Up to 3.0 FSR (achievable total density of 24,156 sf) Matt Thomas* / Jennifer Devlin Michael Farrell Mathew Sunderland* / John Lecky Jason Mah* / Struan Saddler*

RUTLAND ROAD NORTH

SEXSMITH ROAD

airport

SOLD FIRM SOLD SOLD

SW CORNER OF OLD VERNON ROAD 1170 HARWOOD STREET 1950, 1955, 1960 PACIFIC COURT 1629 PANDOSY STREET & RUTLAND ROAD, KELOWNA, BC VANCOUVER, BC KELOWNA, BC KELOWNA, BC • Off market assembly • 62 suite concrete high-rise rental apartment building • 108-unit rental apartment complex over 3 separate buildings • 12,000 sf site located at the corner of Pandosy St. and Leon Ave. • Represented the Purchaser • Significant renovations and capital improvements • Suite Mix: 36 one-bedroom & 72 two-bedroom suites • Designated Mixed Use (MXR) in Kelowna OCP - up to 9.00 FSR • Retail/light industrial lease opportunities available • Lot Size: 12,969 sf • Lot Size: combined area of 2.49 acres • Holding income in place Daniel Lee* Rob Greer* / Chris Wieser / Carey Buntain / Winnie Ng Chris Wieser / Rob Greer* / Carey Buntain / Winnie Ng Bal Atwal* / Mehdi Shokri / Nestor Fourik

E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young Commercial Real Estate (B.C.) Inc.; DBA, Avison Young. *Personal Real Estate Corporation A8 | LOWER MAINLAND WESTERNINVESTOR.COM | OCTOBER 2018

RESULTS DRIVEN. 604 684 8844

#1 IN CANADA - ROYAL LEPAGE COMMERCIAL 2017 www.kleingroup.com

Commercial Total Sales Total Sales Opportunities Currently by Klein Group by Royal LePage Listed by Klein Group in Last 24 Months in 2017 $500M $450M $100B

Klein Group Commercial Services Include:

• Land Assembly & Development • Bill 40 Strata Wind Ups • Investment • Cash Flow Assets • Joint Venture/Financing • Advisory & Valuation • Relocation • Industrial • Hospitality • Ofﬁce • Retail • Multifamily

For complete listings and our full proﬁles, visit www.kleingroup.com

HIGH RISE DEVELOPMENT LOW-RISE TOWNHOUSE RESIDENTIAL LOTS FOR SALE EAST VAN DEVELOPMENT SITE MID RISE DEVELOPMENT SITE BURNABY BC NORTH VANCOUVER BC MAPLE RIDGE BC VANCOUVER BC VANCOUVER BC

FOR SALE JUST LISTED

•Mixed-Use High Rise Site •Multifamily / Townhouse Site •Silver Valley, Family Oriented Community •3 FSR •Mid-Rise Opportunity, 11+ Stories

•250’ Lot Width •Rental Bonus Density Potential •Average Home Size: 4,000 SF to 4,800 SF •I1A Zoning •Currently 3.2 FSR Applying

•10 Parcels; Land Size ~ 60,000 SF •72,000 SF to 164,000 SF Buildable •8 RS-1B Lots for Sale •Mount Pleasant Area •Prestigious Area of Vancouver, Right

•294,000 SF Buildable [ERIC WU] •1.2 - 1.75 FSR [RAMAN BAYANZADEH, POURIA NIKRAVAN] •$649,000/Lot [DEAN THOMAS, GRAEME LIN] [SALLY SO] Across the Future Broadway Station [SALLY SO]

MOBILE HOME PARK FOR SALE MOBILE HOME PARK FOR SALE MOBILE HOME PARK FOR SALE MHP & LAND FOR SALE MOBILE HOME PARK FOR SALE CRANBROOK BC FORT NELSON BC FORT ST. JOHN BC CAMPBELL RIVER BC COURTENAY BC

JUST LISTED JUST LISTED REDUCED JUST LISTED i

•6.19 Acres •4.8 Acres, 48 Pads, Cap Rate 9% •34.5 Acres, 70 Mobile Home Pads/14 RV Pads •Combination Sale: 23 Pad MHP, Fully Occupied •3 Acres •66 Pad Expansion / Plans Completed •Prime Location For Townhouse Redevelopment •City Water, Sewer, Waste Removal •Expansion Potential, No Vacancy •25 Pads / 2 RV Sites / 1 Cabin (2 Suites) •City: Water, Sewer, Garbage Collection •Close to Cranbrook Golf Club, Parks, Lakes, Malls •Central to All Essential Amenities •Close to Downtown •City Water, Sewer & Garbage Collection •$2,700,000 •$3,950,000 [EUGEN KLEIN] •$975,000 [EUGEN KLEIN] •$3,699,000 [EUGEN KLEIN] [EUGEN KLEIN] •$3,250,000 [EUGEN KLEIN]

MULTIFAMILY FOR SALE MOBILE HOME PARK DEVELOPMENT MOBILE HOME PARK FOR SALE 100 MILE HOUSE BC PORT EDWARD BC ROCK CREEK BC ARE YOU ON OUR LIST ? Would you like to receive our exclusive listings, foreclosures, estate sales, and property features before they are printed? •8QLW6WUDWLûHG8QLW,QYHVWPHQW •70+ MHP & 25+ RV Rental Lots •3.19 Acres, 15 Pads, No Vacancy •1/2 Bachelor + 1/2 Bedroom Mix •High Demand (Avg. $550 / Pad) •Low Maintenance, Ideal Retirement Home Choose what you receive. Stay connected as you prefer. To subscribe •6.5% Cap Rate, 1 Vacancy •Projected 40+% Return, Won’t Last! •9.1 Cap Rate email us at [email protected] or visit kleingroup.com •$2,750,000 [EUGEN KLEIN] •$1,988,000 [EUGEN KLEIN] •$549,000 [EUGEN KLEIN]

Raman Bayanzadeh Kevin Chiang Solmaz Kaynama Eugen Klein Pouria Nikravan Sally So Dean Thomas Eric Wu 604-684-8844 ext 707 604-684-8844 ext 709 604-684-8844 ext 704 604-684-8844 ext 701 604-684-8844 ext 702 604-684-8844 ext 718 604-684-8844 ext 706 604-684-8844 ext 703 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] Royal LePage Sussex Klein Group | Suite 204 345 Robson Street | Vancouver BC Canada | V6B 6B3 O 604 684 8844 | F 1 866 352 9311 | TF 1 855 684 8844 | www.kleingroup.com OCTOBER 2018 | WESTERNINVESTOR.COM LOWER MAINLAND | A9

CHILLIWACK AVIATION PARK - UNITS FOR SALE INVESTMENT OPPORTUNITY IN BUILDING “C” IN CONSTRUCTION - OCCUPANCY IN MAY MAPLE RIDGE URBAN RESERVE SIX CUBE HANGARS EIGHT AIRCRAFT PARKING LOTS SPECIFICATIONS Three sizes Four sizes - 65’x44’ - 60’x44’ • 17’ High Ceiling • 65’X44’ - 60’X44’ - 55’X44’ - 55’x44’ - 50’x44’ • 45’x15’.6” to 55’x15’.6” Bi-fold doors with openers • Rough in plumbing for Kelowna BC Buy Direct from Owner/Developer toilet and sink Rare opportunity to invest in Thornhill and • Man Door to each unit live in nature, on almost 5 acres! This large Fuller Estates - Only One Townhome remains!!! • Gas and Hydro unique rancher offers privacy, nature and Contemporary 4 plex • Ample parking & many outbuildings! Live and grow your Excellent Downtown Location washroom facili es investment here! MLS# R2299260 $569,000 Sarah Eales Vendor Financing Available wwww.chilliwackaviationpark.caww.chilliwackaviationpark.ca 604-202-7272 Phone or text [email protected] FFOROR INFORMATIONINFORMATION CCallall : 6604-991-720004-991-7200 OORR 6604-793-593804-793-5938 RE/MAX LifeStyles Maple Ridge, BC www.saraheales.com William Eden at 604-657-1270

Vancouver Office: 604 683 7535 TF: 1 866 717 6989 Langley Office: 604 534 7974 TF: 1 800 890 9855 naicommercial.ca Realizing Potential, Delivering Results.

Self-Storage Facility For Sale Large Mixed Use Retail Strata Unit For Sale Self-Storage Facility, Cold Lake, Alberta Development Site 1,519 SF 1.93 Acres - 133 Units, 11 RV parking High visibility location Merritt, BC Asking: $1,850,000 Superior improvements in place Approx. 125 acres of amazing views in 2 titles. Ken Kiers* Western Canada’s Self-Storage Expert Current zoning includes Residential & Commercial uses. Asking: $800,000 & Dan Goldstrom (NAI Advent) Services will be at lot line. Ted Weibelzahl 604 514 6825 Toll-Free: 1 800 890 9855 [email protected] 604 209 2222 | [email protected] Priced well at: $2,388,000 Land, Buildings & Business For Sale Very Successful Interior Business 5,000 SF building on 30,500 SF land Gross Revenue: $1,250,000 Heavy Truck Repair Business For Sale Industrial Site For Sale Asking: $950,000 (business & property) + inv. Lower Mainland, BC 354 & 358 Victoria Street, Kamloops, BC 19.83-Acre Ind. Site, Ready To Go Working capital of $246,000 (incl. $70,000 inventory) Kamloops, BC Land & Building Equipment and Tools including: OTC Hoist, Auto Engine Large industrial site with subdivision potential Asking: $1,100,000 Hoist and Bendpac Hoist 27,000 lbs All services nearby 6 Bay garage Three Insurance Company Buildings, Interior BC Asking: $849,000 Seller may consider trades Asking: $5,950,000 Three Suncor Sites, Interior BC Marion Van Keken-Rietkerk*, CBI MBA 18,500 SF / 28,000 SF / 21,500 SF 604 617 8118 | [email protected] Large Hobby Farm Asking: contact agent Development Site Development Site For Sale Wal-Mart Excess Lands, Quesnel, BC Five acres Soleado Ridge 53 Acres (Non-ALR) Merritt, BC Asking: $1,750,000 Merritt, BC Approx. 70 minimum 1-ha lots 53 acres zoned R-3, R-2 + 2222 Balsam Avenue, Quesnel, BC Future Development Incredible valley views 4 acres, 14,000 SF Services at street All City services available Holding income Potential for partial MHP zoning New Price: $4,388,000 Asking: $900,000 Approved for Single-Family + estate view lots Chris Langhaug 1617 Cranbrook St N, Cranbrook, BC 604 240 6224 6,630-SF building on approximately 1 acre New Price: $1,599,000 [email protected] Asking: $1,350,000 Chris Langhaug Ted Weibelzahl 604 240 6224 604 514 6825 Peter A. Seed, BA. DIPL. TECH [email protected] [email protected] 604 691 6608 | [email protected]

Businesses For Sale

Mechanical Design & Supply Firm Contact Agent

Business Owners Supermarket & Outdoor Store $749,000 Does Your Business Generate $1M+ 2 Home Improvement Franchises $125,000 ea in Annual Revenues? Truck Repair Shop $849,000 Is Now the Time to Sell? Laser Equipment Distributor Under Contract For a Confidential Consultation, Contact: Restaurant Opportunity Under Contract

John McLeod*, CBI Business Broker & Consultant Marion Van Keken-Rietkerk*, CBI MBA 604 230 9941 | [email protected] 604 617 8118 | [email protected]

*All asterisks indicate Personal Real Estate Corporation A10 | LOWER MAINLAND WESTERNINVESTOR.COM | OCTOBER 2018 Small First Nation developing large PoCo industrial site COVER | Parcel of 110 acres of reserve land will depend on “market drivers” to steer Port Coquitlam industrial project

both commercial and light indus- Vancouver has seen 20 straight By FRANK O’BRIEN & trial, under long-term lease agree- quarters of positive absorption, PETER MITHAM ments to provide steady income. and new supply still struggles to [email protected] He said the band would consider meet demand, Colliers noted in its selling parcels of the land, which second-quarter report. will be offered under 97-year lease “Currently there is the greatest t is at least a year away from agreements. The most recent as- amount of industrial space under signing its first tenants, but sessments pegged the leased land construction in the history of the Aboriginal-owned Kwik- I values at $1.7 million to $2.25 mil- Metro Vancouver, but so far this wetlem Business Park in Port Co- lion per acre, he added. has provided no relief to the lack quitlam is not expected to have The development is currently of vacant space,” the report stated. much problem filling up due to a awaiting a master services agree- Industrial lease rates are increas- severe shortage of industrial land ment for water and sewer services ing and prices have reached eye- across Metro Vancouver. with the City of Port Coquitlam, popping levels. An example is the The industrial vacancy rate in which began negotiations in Oc- recent sale of a 49,000-square- the Metro region stands at 1.4 per tober 2016. foot industrial strata property in cent, the lowest in Canada. There Laura Lee Richard, Port Coquit- formerly affordable Pitt Meadows are virtually no large parcels of lam’s director of development, said that sold for $9 million. industrial land left to develop, ac- a two-year delay for such an agree- Buyers are paying $300 a square cording a second-quarter survey ment is not uncommon. She could foot and more for industrial space by Colliers International. not provide a time frame on when Chief Ron Giesbrecht of Kwikwetlem First Nation on the site of the in Metro Vancouver, and even Chief Ron Giesbrecht of the the negotiations would complete. 110-acre Kwikwetlem Business Park in Port Coquitlam: timely addition prices in Chilliwack are $200 a 107-member Kwikwetlem First Giesbrecht, who hopes the park to the tight Metro Vancouver industrial inventory. | ROB KRUYT square foot. Surrey land prices Nation, also known as the Coquit- will see construction start by next have hit $3 million an acre and re- lam Indian Band, said the site with summer, said that the idea to de- alone was north of 48,000 square TFN’s preference is to lease fully cent Langley deals are pencilling frontage on Pitt River Road would velop the reserve land started 20 feet. serviced parcels of 15 to 20 acres, out at $2 million an acre. Chil- be built out in three phases. The years ago. The band’s subsidiary, The latest strata development a TFN spokesman said. liwack has the lowest price at $1.5 first phase will be a $15 million, Saskay Land Development, runs in Port Coquitlam, by Conwest There are very few large par- million an acre, but land anywhere 105,000-square-foot health and the site and employs many band Group, will deliver 16 strata ware- cels of industrial land and they is difficult to find, according to a wellness centre for the use of band members. house units with prices in the are being quickly taken up. Metro separate study by Avison Young. ■ members and residents of the Tri- The big work now is preloading $325-per-square-foot range. The Cities area. the property and completing geo- project is not yet at the market- The following phases, Giesbrecht technical services, Giesbrecht ing stage but has already received METRO VANCOUVER INDUSTRIAL SNAPSHOT said, “will be market driven.” said. unsolicited offers. Second quarter, 2018 Those market drivers would Kwikwetlem Business Park rep- First Nations have a history of likely steer towards distribution resents the largest new addition industrial land development. The Inventory: 201.8 million square feet warehouses and light manufac- to the industrial base in the Tri- Tsawwassen First Nation (TFN) in 1.4% turing, according to John Boer of Cities area. The local industrial Delta is developing the 300-acre Vacancy rate: Colliers, who will act as the listing vacancy rate is 1.7 per cent and Deltaport Logistics Centre, with New supply: 576,335 square feet agent for the park with co-Colliers less than 100,000 square feet of 100 acres already leased. Phase 2 Under construction: 4.7 million square feet agent Chris Morrison. new space came to the market this comprises the second phase of that Average net rent: $10.73 per square foot (annually) Giesbrecht said the Kwikwetlem year. Another 434,577 square feet project and its 200 acres represents Average strata cost: $300 per square foot First Nation is primarily interested is under construction, but the net the last large parcel of industrial SOURCES: COLLIERS INTERNATIONAL/ WESTERN INVESTOR in attracting build-to-suit tenants, absorption in the second quarter land available in Metro Vancouver.

FOR SALE FOR SALE FOR SALE

KINGSWAY

FOR SALE FOR SALE FOR SALE OCTOBER 2018 | WESTERNINVESTOR.COM LOWER MAINLAND | A11

Marketing British Columbia to the World® www.landquest.com ® 604-664-7630 • 1-866-558-LAND (5263)

HEART LAKE RANCH DISCOVERY PASSAGE LARGE ACREAGES HOBBY FARM/TIMBER PROSPECT COMMERCIAL OFFICE BUILDING & LAND THE ARCTIC DIVIDE RANCH VANDERHOOF, BC EAST COAST VANCOUVER ISLAND 100 MILE RURAL - SOUTH CARIBOO MASSET - HAIDA GWAII LODGE & MOTEL

• Heart Lake hay & cattle ranch in central BC • Last 3 remaining large acreages • 13.9 acre property close to 100 Mile • Affordable investment, excellent ROR • 2XWVWDQGLQJ¿QDQFLDOSHUIRUPDQFH • 4,688 acres deeded, 26 titles. 2,200± • 2 nautical miles from Campbell River • 4,000 ft2 gracious rancher, 4 bdrm/3 bath • IWðRQWLWOHVRI¿FHEXLOGLQJ • Established, successful lodge and motel acres in hay & grain production • Water access or limited forest service roads • 2 bdrm/1 bath bsmt walkout suite land in Downtown Masset • 5 acres of land, often has no vacancies • 1,500± acres pasture • Series of shallow or drilled wells • Backyard concrete patio & gazebo • 7HQDQWLQSODFHZLWKRI¿FHVSDFHVKRUW • Top reviews on Trip Advisor & bookings.com • Running 240 cow-calf pairs & 12 bulls • Lot D - 145 acres $555,000 • Lean-to, corral, barn, chick coop & sheds in supply • Strategically located to provide travellers • Very well maintained ranch in great • Lot 3 - 91 acres $440,000 • Many updates & renos; timber prospect • Room for expansion on the property with an affordable & comfortable stay location at fair market value. $5,495,000 • Lot 4 - 150 acres $540,000 off land. NEW PRICE $487,500 • $140,000 • $850,000 RICH OSBORNE 604-664-7633 RICH OSBORNE 604-664-7633 WENDY PATTEN 250-718-0298 JOHN ARMSTRONG 250-307-2100 JOHN ARMSTRONG 250-307-2100 Personal Real Estate Corporation Personal Real Estate Corporation [email protected] [email protected] [email protected] TEEPEE HEART GUEST RANCH CLOUSTON ROAD FARM 155 ACRES ON AN ISLAND IN THE RIVERS LODGE CARPENTER MOUNTAIN RANCH BIG CREEK, BC QUESNEL, BC SQUAMISH RIVER - SQUAMISH, BC RIVERS INLET, BC WILLIAMS LAKE, BC

• 40 acres with log house, Grazing & Hay • 798 acres in 7 deeded titles. • Largest of 3 properties on this island • (VWDEOLVKHG¿VKLQJORGJHLQUHQRZQHG • 650 MAU with 3,900 deeded acres Cutting Permit, Park Use Permit • 215± acres hay production • Boat access only location • 1,200 acres in hay production • Water licence, restaurant & brand licence • 329 AUM Range Permit - 5,661 acres • Agricultural zoning • Floating lodge with foreshore lease • 2 residences with numerous outbuildings • 165,000 hectare horse riding tenure • 3 bdrm ranch house remodelled in 2005 • 1.5 hours from Vancouver • Protected in a secluded bay • Grazing Permits & Water Licences • 30 horses included; long inclusions list • Production lands reseeded in the spring • Lowest priced acreage in the Lower • Improvements & equipment included included • 5 rustic log cabins, outpost cabin, many of 2018 Mainland • Accommodation for 24 guests • Strategic layout with contiguous parcels outbuildings. $499,000 • $899,000 • $225,000 • Turnkey operation. $600,000 • $5,850,000 SAM HODSON 604-694-7623 SAM HODSON 604-694-7623 ROB GREENE 604-830-2020 LIAM REIFEL 604-655-9370 LIAM REIFEL 604-655-9370 Personal Real Estate Corporation Personal Real Estate Corporation [email protected] [email protected] [email protected] POTENTIAL FOR 100+ UNIT RESIDENTIAL CHERRY POINT ESTATE WINES PORT ALICE THE SATURNA LODGE FIRCREST RESORT DEVELOPMENT PROPERTY COBBLE HILL, BC SPECIAL OPPORTUNITY SATURNA ISLAND, BC LAC LA HACHE, BC

• 2.4 acres in Powell River, BC • Well-established, award winning 34 acre • 7 suite apartment • Well established in the S. Gulf Islands • AMAZING INVESTMENT OPPORTUNITY! • Plug and play, shovel ready vineyard • Marina across the street • 5,200+ ft2 ocean view lodge • Beautiful lakefront resort • Premium residential development site • 3,927 ft2 home, commercial kitchen, 90 • 4 suites furnished • 3 levels fully furnished & equipped • Rezoned for 103 RV Resort sites • Adjacent to Hospital & Recreation seat bistro with liquor licence, wine shop • Extensive upgrading • 7 guest rooms, Mill House Restaurant • 30 sites are already serviced & ready Complex • Event pavilion, warehouse, processing • Perfect retirement village • %DUNLWFKHQRI¿FHJXHVWORXQJH • 1,400+ ft frontage, beach & dock • NEW LISTING $899,000 facility & equipment • 6XSHUE¿VKLQJSUDZQLQJ FUDEELQJ • Beautiful terraced gardens & lawns • *UHDW.RNDQHHFKDU UDLQERZ¿VKLQJ • NEW PRICE $5,500,000 • Won’t last long ... $399,000 • Potential for growth. $795,000 • $2,799,000 JASON ZROBACK 1-604-414-5577 JASON ZROBACK 1-604-414-5577 KURT NIELSEN 250-898-7200 DAVE COCHLAN 604-319-1500 DAVE COCHLAN 604-319-1500 JAMIE ZROBACK 1-604-483-1605 JAMIE ZROBACK 1-604-483-1605 [email protected] [email protected] [email protected] TRIPLE CREEK RANCH B&B LARGE ACREAGE WITH FORMERLY, LAWRENCE AVIATION AT WATERFRONT HOME AND SMALL 2,093 ACRE CATTLE RANCH WITH HAZELTON, BC NEW HOME AND MOUNTAIN VIEWS SPRINGHOUSE AIRPARK ACREAGE - TYAUGHTON LAKE RANCH HOME - CHETWYND, BC

• 160 acre hobby farm • 85 acres with newly built, 2 bdrm home • 1,300+ ft2 home & 4,920 ft2 hangar with • Well designed & beautifully crafted home • Stunnining 2,093 contiguous acre ranch • Additional business potential • Stunning 360 degree mountain & RI¿FHFRIIHHVKRS FODVVURRP • 4,000 ft2, 4 bdrms, 2 baths, theatre • 600+ acres in production, 800+ acres in • Impressive home & quality outbuildings waterfall views, beautiful, private setting • Second hangar has 6 parking spots for room, 3 car garage with workshop +++ pasture, fencing, corrals, 30 x 50 ft • Private & rural environment • RV hookup & 3-bay heated, wired shop planes • Level side area for toys & tools - large calving barn, 30 x 50 ft wired shop • Minutes away from town • Landscaped yard, fenced orchard, • Gas bar & outdoor parking area machines, sleds, ATVs, trailer parking • Large bright ranch home • $569,000 garden, greenhouse • Great opportunity for a thriving business! • Boasts all the luxuries of civilization in • Capable of sustaining 200-250 MAUs • 15 min to all amenities. $669,500 • Williams Lake, BC. $698,000 the Bridge River Valley. $489,000 • Excellent hunting. $2,100,000 FAWN GUNDERSON 250-982-2314 FAWN GUNDERSON 250-982-2314 ROBBI-LAYNE ROBERTSON ROBBI-LAYNE ROBERTSON CHASE WESTERSUND 778-927-6634 Personal Real Estate Corporation Personal Real Estate Corporation 250-457-7603 [email protected] 250-457-7603 [email protected] [email protected] 3 AFFORDABLE COMMERCIAL LOTS, 78 ACRE OCEANFRONT DEVELOPMENT PINEY POINT - WATERFRONT SHERIDAN LAKEFRONT AND LAKE ACCESS LOTS LAKEFRONT LOT ON CROWN ROYAL INCOME PRODUCING OFFICE BUILDING PROPERTY - QUEEN CHARLOTTE CITY LAKE INVESTMENT OPPORTUNITY GALENA SHORES - ARROW LAKES ISLAND - LAC LA HACHE, BC

• Affordable opportunity to purchase • 3 bdrm 2 bath home + 2 cottages • 7.4 acre prime west facing waterfront • Only a few lots left after busy summer • Water access lot / 0.73 acres strategically located commercial lot and • In the village, walking distance to • 700± ft shoreline, several tent sites of sales • 100 ft of shore on one of the Cariboo’s RI¿FHEXLOGLQJLQ&KHWZ\QG%& Skidegate Landing ferry • 3 luxurious 2 bdrm / 1.5 bath cottages • Fully serviced lots ¿QHVWODNHV • Zoned Highway-Commercial C2 • Island views across the channel • 2 rustic log cabins, 1,050 ft2 residence • Year round access • Southern exposure / lot is fully treed • 1,166 ft2RI¿FHEXLOGLQJZLWKUHFHSWLRQ • Deep water moorage right off the beach • 13 fully serviced RV sites, 30 amp • Gorgeous mountain vistas • Ideal place for your affordable washroom & basic kitchen facilities • $$$ of marketable timber, 2014 cruise • 6 water & power only RV sites • Lake access lots from $62,500 recreational retreat • Space is currently rented. $200,000 • $650,000 • Zoned C2. Priced at $1,649,000 • Lakefront from $195,000 • $99,000 CHASE WESTERSUND 778-927-6634 LYLE BRAITHWAITE 1-877-701-7888 MARTIN SCHERRER 250-706-9462 MATT CAMERON 250-200-1199 MATT CAMERON 250-200-1199 [email protected] [email protected] [email protected] [email protected] [email protected] A12 | LOWER MAINLAND WESTERNINVESTOR.COM | OCTOBER 2018 Fraser Valley: giants step in and transit steps up FEATURE | Giant distribution centre and LRT decision reflect reasons Metro developers, investors, homebuyers are heading south across the Fraser – and Newton Town Centre is becoming a favoured destination sides of the Fraser River. By WI STAFF “Surrey has the greatest amount of industrial space under con- [email protected] struction in Metro Vancouver, at approximately 1.05 million urrey is the fastest-growing square feet,” noted Andrew Rojek, metro centre in B.C., and manager of market intelligence, Sits young population – 22 Western Canada, for Colliers per cent of B.C. births are now in International. Surrey – is gunning to claim the Even with the boom in building, title of the province’s biggest city Surrey’s industrial vacancy rate is within a generation. 1.2 per cent and its average indus- The population gap between trial lease rate is $9.14 per square Surrey and Vancouver will narrow foot, both among the lowest in to 100,000 people within three Metro Vancouver. years and will be non-existent A recent report from the Van- Anticipation of the light-rail transit line linking Newton with central Surrey has helped drive the cost of land couver Economic Commission by 2040, according to a report zoned for higher-density multi-family in the transit corridor above $4 million per acre. | SURREY CITY DEVELOPMENT Michael Heeney, president and recognized the industrial power Surrey City Develop- Valley Real Estate Board shift that is transferring invest- CEO of the . It will be part of a national plan by In August 229 detached ment Corp. (SCDC), presented The typical Surrey condo apart- Walmart to offer home delivery of ment, and jobs, south of the river. houses were listed September 13at an event spon- ment sells for $340,000 com- groceries. A squeeze on industrial space sored by the Real Estate Institute pared with $846,100 in Greater The future Surrey distribution in Surrey-Delta for means 10 per cent of industrial of British Columbia. Vancouver. centre will have space for frozen $1 million or less, businesses in Vancouver plan to The pace could be even quicker, Yet average family incomes in foods and produce as well as for compared with one in relocate in the next two years, the based on the number of people Surrey are higher than in B.C.’s shelf-stable groceries and other Vancouver commission found. This equates moving south across the Fraser biggest city, reports Statistics products. Walmart expects the to the loss of 6,000 jobs. River to find work and affordable Canada. centre will be operational by 2022. A further 40 per cent of indus- housing in the city of 518,000. The “Surrey is the future,” said Construction will begin early in trial businesses are thinking about SCDC study showed that Surrey Surrey developer Charan Sethi, 2021. The site will employ be- moving out of Vancouver by 2020 posted an 11 per cent population president of Tien Sher, who has tween 150 and 200 people. due to the cost of doing business in growth between 2011 and 2016, built and sold out half a dozen Walmart’s competition in the the city and the difficulty of find- Pietra compared with 6.5 per cent in low-rise condominium projects in online-sales space is indisputably ing workers, according to Basilij Vancouver and 6 per cent in Metro and around Surrey Centre. mega-retailer Amazon.com Inc., , a sustainable commun- ”Linda Hepner ity development specialist with Vancouver. In the same period, Sethi is now pulling together which already has two large dis- Mayor praised the Surrey’s employment growth was plans and permits for the redevel- tribution centres in Metro Van- building’s sustainable design the commission and the report’s 51 per cent, compared with 7.2 per opment of the former Flamingo couver, including one in Delta. as a “novel, forward-thinking author. cent in Metro Vancouver. hotel site into Tien Sher’s first Walmart said its future Surrey approach.” Companies leaving Vancouver The home price gap is just as highrise residential project. site would deliver fresh produce head for Delta, Surrey and Lang- revealing. In August, for instance, Bigger players also have expan- and frozen grocery products to ley, Basilij said. 229 detached houses were listed sive plans for the city. 60 Walmart locations across the Industrial strength for sale in Surrey-Delta for $1 Walmart Canada will spend $175 province. million or less, compared with million to build a 300,000-square- It also touted its future Sur- The selection of Surrey for a Multi-family just one in Vancouver. There were foot fulfilment centre in Surrey’s rey site for being “zero-waste” massive new distribution centre two-dozen in North Surrey alone, Campbell Heights Business Park, and having many sustainabil- comes as no surprise to industrial In September, Prime Minister according to data from the Fraser the giant retailer has announced. ity features. Outgoing Surrey real estate professionals on both Justin Trudeau visited Surrey to

604.420.2600 londonpaciﬁc.ca

7.6 ACRES OF LOW & HIGH RISE DEVELOPMENT LAND Sales, Management, DOMINIC FUNG SITE OVERVIEW Project Marketing [email protected] 250m from SkyTrain 604604-729-3117-729-3117 FOR SALE station COMMERCIAL PROPERTIES FOR SALE 35 lot assembly +/- 333,080.60 SQFT • BUYERS FOR HOTELS +/- 30% Low-rise Lower Mainland locations preferred. Please contact +/- 70% High-rise in conﬁ dence.

Ioco Rd

PURCHASING OPTIONS • MOBILE HOME PARK Entire site 63071 Flood Hope Rd., Hope - with 31 pads, Smaller sections 2 homes, 4.9 acres land andL Dnear city centre. Inlet Centre Barnet Hwy SSOLDO Contact agent for details of the Priced to sell $1.425 Million Station site and purchasing options • VERNON COMMERCIAL SITETE Grant L. Gardner* 604.420.2600 ext.205 6365 Highway 97, Vernon. Land 1.48 acres. [email protected] *PERSONAL REAL ESTATE CORPORATION Building around 15 yrs. old and approx. 8000 SF include showroom and service bays. Stable tenant E & O.E.: All information contained herein is from sources we deem reliable and, while thought to be correct, is not guaranteed by London Pacific Property Agents Inc. & potential. $2.35 Million OCTOBER 2018 | WESTERNINVESTOR.COM LOWER MAINLAND | A13 confirm federal funding for the Surrey- multi-family developers. Still, he thinks Newton-Guildford light-rail transit (LRT) the LRT is “pivotal” to the growth of Sur- LINDA FREDDY line. The $1.65 billion line will run 10.5 rey’s downtown. MARKS MARKS kilometres along King George Avenue and Rental investors see fast-growing Surrey 104th Street to link Newton with the Sur- as a prime market. Giant landlord Main- 604-491-1060 rey Central transit station. street Equity Corp. of Calgary, for example, A trusted father/daughter team [email protected] The transit link has created a develop- has been buying older apartment buildings ment buzz in Newton because higher- in Surrey for years and now holds 1,775 REDUCED 12 Unit Multi Family Investment density residential zoning will be allowed. rental units in the city. Harrison Hot Springs But the planned route has been known for Even with a 21 per cent increase in the years, and some investors say the gravy past year, the average price of a Surrey • Central, 2 Blocks from Harrison Lake train has already left the station. rental apartment building now aver- • 350-400 sq.ft. One Bedroom Units The cost of an acre of residential land in ages $206,000 per suite compared Surrey hit $3.1 million this year, according with $586,000 in Vancouver and nearly • River Front to Colliers, up from $2 million in 2016. In $500,000 across Metro Vancouver, ac- $1,750,000 the Newton area, residential land sells for cording to the Goodman Report from HQ $4 million to $5 million per acre, estimates Commercial. wwww.TheBestDealsinBC.comww.TheBestDealsinBC.com land specialist Joe Varing, director of sales Surrey’s rental vacancy rate is less than for Varing Marketing Group. 1 per cent, similar to Vancouver. Surrey “I plead with everyone, ‘find me two rents are lower than in Greater Vancouver, to five acres’ in Newton’,” Sethi joked, but the average capitalization rates on but he suggested land speculation has apartment buildings are higher, at around driven the prices too high for smaller 4 per cent, according to HQ. ■

Cost per acre of land zoned for multi-family development FOR SALE STRATHCONA (Second quarter, 2018) 635 E HASTINGS STREET Municipality 2017 2018 Strathcona Investment Opportunity Surrey $3.0 million $3.1 million • Ǧ 3,050 Abbotsford $1.8 million $2.4 million • Lot Size: ȋǤȌ Langley $1.9 million $2.5 million • Net Income: Please contact us • Asking Price: $3,679,000.00 - SOURCE: COLLIERS INTERNATIONAL MARKET UPDATE, AUGUST 2018 FOR SALE 1294 GRANVILLE STREET

WHEELER CHEAM REALTY Prime Investment/Development Opportunity 33174 1st Ave., Mission Your Realty Professional • • Zoning: DD (Downtown District) • Lot Size: 6,000 sf | Building Size: 10,356ȋǤȌ Contact JAG for Residential/Commercial Development Opportunities in Mission • Asking Price: $8,598,000.00

604-556-8890 | jagcheema.net | [email protected] | Royal LePage Wheeler Cheam FOR SALE PROPERTIES FOR SALE 1670 FRANKLIN STREET Prime Investment/Development Opportunity • Fully leased two storey light industrial building • Zoning: M-Ϥ (Industrial) • Lot Size: 6,124.40 sf | Building Size: 7,580 sf ȋǤȌ • Asking Price: $4,999,999.00

FOR SALE

32987 Rosetta Ave - 1.31 Acres in Cedar Valley Development Downtown Mission - 15,000 Sq.Ft. High Density 57 & 63 E CORDOVA STREET Area. OCP Indicates Single Family Residential Lots. property is ﬂ at, no site (4.5 FSR) within Mission’s downtown core. Prime Investment/Owner-User Opportunity creeks or environmentally sensitive area’s. 132 Frontage x 433 Depth. Spectacular views from this site that has serious Tons of parking, shop & lean to are in good shape. Development • Ȁƥ is creeping close to this area. Excellent place to build your home & potential for a 6 storey condo building. Walking • Designed by renowned architect MGA cash in on development in the near future or keep the rental income distance to the West Coast Express. Panoramic Views • Unit Size: 2,807.22ȋǤȌ ﬂ owing until you’re ready to subdivide. ** Do not go on property ** of the Valley, Mountains & Fraser River. $3,860,000 • Asking Price: $3,599,000.00

SOLD SOLD FOR SALE 280 CARRALL STREET Prime Investment/Owner-User Opportunity • Rare small format retail/food primary opportunity • Zoning: HA-2 (Gastown Historical Area) • Unit Size: 680 ȋǤȌ $1,079,000.00 One-acre site will see a four-storey multi-family 8968 Cedar • Asking Price: building erected, The property is located at Flat Multi Family Development Property designated 32770 Fraser Cres., Mission. for Townhouses, 12 to 21 Units per Acre. 2.2 Acres SOLD for $1.5 Million - $2,500,000 SOLD VIVA TOWER | 1311 HOWE STREET ơǦ SOLD SOLD • Trophy tower in the heart of downtown • 17 storey building comprising 48 strata units • Building Area: 58,997ȋǤȌ SOLD • Sale Price: Please contact agent

ROBERT THAM | MARC SAUL* 9006 Cedar High density condo site; 632 Citadel Parade, Vancouver, BC, V6B 1X3 6 Acres of prime multifamily developable land in Cedar Valley. Approximately 18,000 sq. ft. site that will see a 6 storey T 604.609.0882 F 604.609.0886 | www.corbelcommercial.com District of Mission Planning Dept supports a Townhouse building within Mission’s downtown core. Residential E. & O. E. | All information contained herein is from sources we deem reliable, and we have no reason to doubt its accuracy; however, no guarantee or responsibility project for this large parcel & surrounding area. $7,000,000 condo units plus main level retail. $3,200,000 is assumed thereof, and it shall not form any part of future contracts. Properties are submitted subject to errors and omissions and all information should be * ƤǤ Ƥ Ǥ Personal Real Estate Corporation A14 | LOWER MAINLAND WESTERNINVESTOR.COM | OCTOBER 2018 Glacier portal jumps gun on home sale price data ruling FEATURE | Toronto realtors ordered to release price data, but Vancouver’s rew.ca site already provides the information for the Lower Mainland and southern Vancouver Island

realtor websites. By FRANK OBRIEN “It has only been three [email protected] days[since the Supreme Court decision],” he said, adding that n September, for the first the boards will be meeting on time in Canada, the gener- the issue. Ial public could see exactly Realtor clients can find out a what any home sold for through home’s sale price through their the Toronto Real Estate Board real estate agent, he said. (TREB). But that information “There has been no public has been available in Metro Van- pressure here to release home couver through a Glacier Media sale prices,” he added. real estate portal, rew.ca, since Barbisan said a key issue is May. striking a balance between the The release of sale price data in public’s right to know and the Toronto follows a Supreme Court right of an individual to privacy. decision August 21 in favour of Rew.ca lists sale prices and a Competition Tribunal order other information about homes that allowed publication of home in the Lower Mainland and sales price information. The de- southern Vancouver Island via cision forced TREB, which had John Barbisan, president of the Fraser Valley Real Estate Board: home sellers have a right to privacy. | SUBMITTED its Property Insights pages. ■ been fighting against the rul- rew.ca ing for seven years, to make the quick tour of with specific METRO VANCOUVER HOME SALES STATS MAKE FOR GRIM READING information available. addresses of Vancouver houses A number of real estate com- that had sold in July revealed For those trying to sell a home in Metro Vancouver, sale and price information can make for grim reading as val- panies and listing services im- that all had sold for less than the ues continue to slide as home sales tank. For those trying to buy a home, however, the price corrections may not mediately put the data online list price and for less than the BC be enough to get them off the fence. through password-protected Assessment value. Home sale “Homebuyers have been less active in recent months and we’re beginning to see prices edge down for all hous- sites. All someone has to do is prices are available only after ing types as a result,” said Phil Moore, president of the Real Estate Board of Greater Vancouver. register and provide a password the sale has been processed The composite benchmark price released by the board states that overall home prices were up 4.1 per cent in to access the information. through the land titles office. August compared with the same month last year. But detached-house prices have fallen 3.2 per cent and plunged In a Western Investor scroll of John Barbisan, president of the as much as 10 per cent or more in the most expensive markets of West Vancouver and the west side of Vancouver, such web pages, it appears that Fraser Valley Real Estate Board, where the benchmark house price is now $3.27 million. most Greater Toronto homes are said his board co-operates with Price increases are widely expected to reverse in the months ahead because of a dramatic 36.6 per cent drop in being sold for close to their list- the Real Estate Board of Greater sales in August, compared with the same month a year earlier. ing price, which may not be the Vancouver and the Chilliwack There were just 116 detached-house sales in August across Greater Vancouver. That was down 30 per cent from case in Metro Vancouver, where and District Real Estate Board to a year ago to a 27-year low for August, noted Vancouver real estate agent and industry blogger Steve Saretsky, home sales have plunged about provide Multiple Listing Service who claims overall benchmark prices are now 18 per cent below the peak level in April 2016. 36 per cent so far this year com- data in the Lower Mainland. The new condo market is also being affected. There are currently a record-high 43,024 new condos under con- pared with 2017. He said officials at all three struction in Metro Vancouver. “There’s a pipeline of supply coming and the demand might not be there to meet Metro Vancouver home sale boards have discussed the it,” Saretsky said. price information is available Competition Tribunal order, In the Fraser Valley, following a 38.5 per cent drop in total home sales in August compared with a year earlier, for free through rew.ca for those but could not say if or when sale the benchmark price for a detached house was down 0.9 per cent from a month earlier and 1.5 per cent below the who register on the site and have price information would be ac- price three months earlier. a specific address to search. A cessible to the public through

Precious Kargo 18680 80th Street Surrey BC • Baby Boutique REDUCED! $8,999,000 TOWNHOUSE SITE at: DEVELOPER ALERT! 2623 Montrose Ave. 9.6 Acres in West Clayton downtown Abbotsford, OCP Urban Land Use. ABBOTSFORD ZONING 2 homes currently on property BC $85,000 UNDERWAY $$1,800,0001,800,000 $$3,598,0003,598,000

• 2.05 ACRES • 1.5 FSR • LEVEL SITE • ON SERVICES Abby Spring Service & Miro Parts Business in Abbotsford BC 1250 Hornby St. Downtown Vancouver BC ASKING 2 successful businesses for sale in 1 package. Servicing, Manu- One of a kind Luxury & professionally architected ground ﬂ oor $6,000,000 facturing & Selling Custom Springs, Axles, Drive Shafts etc for commercial space currently home to award winning Jeweller. Light to Heavy Duty vehicles. 12 bay shop w/HUGE warehouse 1321 sqft w/ 13’4 ceilings w/ top of the line ﬁ xtures, security, - Same leased location for 25 years w/ many long term Commer- sound system etc. Prestigious new construction & 5 star / high SUBDIVISION POTENTIAL cial & Private clients. Includes all Inventory & Assets. end hotels nearby! 7808 Edmonds St. Burnaby $$3,300,0003,300,000 Development Opportunity of commer- $$938,000938,000 MISSION cial property in Burnaby with Land As- sembly Potential! C4 Zoning of 6624 REDUCED sqft lot with freestanding building. OCP is Medium Density Mixed Use in the $250,000 Sixth Street Urban Village.

9437 Dominic Lake Rd, South of Kamloops BC 9.26 Acre Lakefront Campsite Retreat w/ 26 RV Sites, a lodge • 38.21 ACRES • 2 HOMES 5814 Riverside St. Abbotsford $650,000 or $12.50/ sqft and 2 cabins. Bring your boat, ﬁ shing rods, dirt bikes & friends • CITY WATER • LARGE OUTBUILDINGS Lease or Buy! Great location in the heart of Matsqui Village. Bright and clean - a great place for Outdoor Adventure! Buy land w/ business & building, with bus stop just out front, 2 mins to HWY 11. 3,075 Sq.Ft. incl. pay no Property Transfer Tax - Save Thousands! reception, private ofﬁ ce space, kitchen, bthrm & 2 street facing main doors. ASKING $2,650,000 RE/MAX Michele Cummins Little Oak Realty PERSONAL REAL ESTATE CORPORATION JOHN CORRIE Little Oak Realtyy 778-885-4659 604-309-0540 [email protected] [email protected] www.michelecummins.ca WWW.JOHNCORRIE.COM OCTOBER 2018 | WESTERNINVESTOR.COM LOWER MAINLAND | A15

FFantasticantastic OpportunityOpportunity Kelowna Inner City Excellent Investment! NNewew WWestminsterestminster 5 BedBed / 5 BathBath DDuplexuplex - waswas AirAir B&BB&B New Townhomes (4-Plex) • Location, Location, Views – 4plex units are a short walk to downtown and Water Street - Now complete: Ready for rent & personal use. • Brand New - No strata council or strata fees • Modern and Contemporary Design • Good Surplus Income - Generates $10,000 + /month revenue • Rental Management available (Complimentary for Year 1) • Low Down Payment - Financing can be made available (O.A.C.) • Large Asset Growth Showhome now open-contact developer (William) directly at: FFullyully furnishedfurnished (9beds),(9beds), ccurrentlyurrently mmo/moo/mo (phone / text / email) Mobile 604-657-1270 wjeco1@telus.net Your North East B.C. Connection Farmland from 160 to 6,000 acres, great investments, some of the best large scale farms in B.C.

Recreational properties, scenic get away places, river front, lakefront, wildlife SSpectacularpectacular vviewiew ooff RRiver,iver, BBridgeridge & MMt.t. BBakeraker Outfi tter Guiding Territories, tourism businesses • Totally Renovated duplex plus studio • Currently $ 4600/ mo (3 bed main, 2 bed 2nd fl oor Equestrian ranch with custom log house and 1 mile of lakefront +owner occupied studio) Investment – development - commercial properties • Fully rented has potential of $5900/mo ! • Nothing to do but move in & For more information HorstMindermann.com enjoy or relax & collect a super income OPTICAL BUSINESS FOR SALE • Perfect home for the extended family or principal residence MLS# C8019756 Horst Mindermann RE/MAX Dawson Creek Realty with 2 income suites Well established iconic business, fantastic location. $$1,398,0001,398,000 - OFFERSOFFERS WELCOME!WELCOME! 10224 10st Dawson Creek, BC 1,000 sq.ft. retail street front shop in a high traffi c 250-467-3019 RE/MAX Grande Prairie June Warkentin area in West Vancouver. List Price $289,000. [email protected] 10114 100 St, Grande Prairie, AB 604-970-5863 Contact MARK BALLARD 604.341.3147 Licensed in B.C. and Alberta or 1-888-970-5863 Re/Max Masters Realty www.ballard360.com

17449 26 AVENUE 5660 177B STREET SURREY • $2,350,000 SURREY • $2,450,000 *

· Area 5 Acreage · Walking distance to · 21,007 SQ FT lot · 1 block north of HWY 10 · 43,560 SQ FT lot Pacific Heights · Designated as · 2 blocks east of HWY 15 · Area 5 of Grandview Elementary School apartment (condo’s) · Walking distance to Heights · Walking distance to up to 4 storeys major shopping centres · 1 block west of HWY 15 Grandview Heights Aquatic Centre 2944 192 STREET 17267 24 AVENUE SURREY • $3,500,000 SOUTH SURREY • $2,870,000

SOLD SOLD

· 2.5 cleared and level · A-2 Zoned Property · Grandview Rancher · Detached Workshop acres · 3,800+ SQ FT home · Park-like one acre · Large Games Room · 174' of highly visible · Open Design · Future Development and accessible frontage · 3 BR 3 BA will increase density A16 | LOWER MAINLAND WESTERNINVESTOR.COM | OCTOBER 2018 Toronto office market dwarfs the West’s top contender FEATURE | Toronto and Vancouver are often ranked as Canada’s top office markets but the dominant eastern city is flirting with a potential zero-per-cent vacancy in its downtown towers

cof 2017 to 5.1 per cent in Q2 2018. By THOMAS FORR Vacancy rates are predicted to [email protected] drop further as a total of 500,000 square feet of space is currently oronto’s economy continues vacant and leased with occupancy to grow at a brisk pace with dates for 2018. Tover 63,000 jobs added to Large blocks of space are limited the market in the second quarter in the downtown market and those (Q2) of this year. that are available are going for a Office-using industries grew by premium. AAA quality space now over 2.3 per cent. Leading con- leases for between $40 and $45 tributors to this growth include direct asking net rent. We will see professional, scientific and tech- some relief in 2020 when a pre- nical services as well as finance, dicted 580,000 square feet of new insurance and real estate. Both space comes to market, but it will sectors grew by 6.4 per cent for not be until late 2021 or early 2022 a combined total of 46,300 jobs Toronto’s financial district: office inventory three times bigger than Vancouver, but western city has higher net that significant amounts of new added. office rents. | SUBMITTED supply will move the downtown Downtown positive absorp- into a more balanced market. tion and leasing activity continue Plan (OTPP) will anchor Cadillac Outlook: We anticipate con- to accelerate past expectations Fairview’s 160 Front Street West, Vancouver tinued strong demand for office as well. The market posted over leasing 240,000 square feet on space. Until new supply arrives, Vancouver’s downtown mar- 725,000 square feet of positive nine floors. OTPP will be mov- downtown tenants will be com- ket continues its hot streak with net absorption this quarter, driving from its current headquarters peting for space, likely resulting in a year-to-date absorption of ing the already tight vacancy rate when the 1.2-million-square-foot increased rental rates and a flight 548,029 square feet, which has down to a record low of 3.4 per office tower is completed in fall to the suburbs. ■ already surpassed 2017’s total of cent. 2022. 488,401 square feet. The increased And it’s only going to get tighter Outlook: With the announce- - Thomas Forr is the Toronto- absorption has resulted in vacancy from here. ment of 160 Front Street West and based research manager for Jones rates dropping rapidly. The total Tech incubator OneEleven ex- The Well towers reported to be in Lang LaSalle (JLL) Canada. He can vacancy has dropped 210 basis panded by 49,000 square feet at the final stages of anchor nego- be reached at 416-304-6047. points from 7.2 per cent at the end 325 Front Street West while Google tiations, we currently track more leased a total of 47,000 square feet than nine million square feet of on the last two available floors at committed construction, most of CANADA’S TOP TWO DOWNTOWN OFFICE MARKETS, 100 Adelaide Street West, the which will arrive in 2021-22. That’s newest office tower downtown. the largest area under construc- SECOND-QUARTER 2018 And that’s not all. tion in almost three decades. The TORONTO VANCOUVER Two more tenants are mov- market needs more supply but the Inventory 74.5 million square feet 27.1 million square feet ing downtown from the suburbs question shifts to how tight the Vacancy 3.4% 5.1% after closing the largest deals of market becomes in the lead-up to Total absorption 391,000 square feet 3,983 square feet Q2. Tim Hortons will relocate its 2021. Is a 0 per cent vacancy un- Under construction 4.5 million square feet 1.6 million square feet Oakville headquarters to nearly feasible? At the current momen- Net rent $29.73 square foot $32.62 square foot 55,000 square feet of podium tum of demand, we’re 12 months or - JLL Canada Q2 2018 office statistics space at 130 King Street West in less from a zero- per-cent vacancy - Thomas Forr is the Toronto-based research manager for Jones Lang LaSalle (JLL) 2019. Ontario Teachers’ Pension rate. It’s a distinct possibility, Canada. He can be reached at 416-304-6047

MOBILE HOME PARKS Two Equipment Rental, Sale and Service Businesses For Sale Park Owners thinking of selling and looking for a market evaluation of your park? Give me a call to discuss options. I have qualiﬁ ed buyers looking to purchase. Both Located in the Lower Mainland View listings on website below for more info. - Kelowna 170 pad park. 27 acres. Extremely well built and maintained. 30 new homes just added. 2018 Gross Inc. Business Details 913k - Asking $9,950,000 5.62% cap rate. - South Okanagan 22 pad seniors park. City water. All • Both businesses established lakeview homes. Upside: Below market rents. Asking $1,745,000 5% cap rate over 50 years ago Year Consolidated Consolidated - Merritt MHP: .826 acre 11 pads in town seniors park on • Rental equipment includes everything Revenue EBITDA* city services, no manager required. Great starter park. Never any vacancies. Asking $699,000 @ 5.6% cap from mini excavators to small hand tools 2018E 3,738,662 472,428 - Fraser Valley RV Campground: Beautiful level, forested • Loyal customer base of 17 acres, 142 sites ( 85% of sites plus are long term 2017 3,802,744 545,998 customers) plus group sites, two cottages, residence/ commercial contractors, cities/districts ofﬁ ce/store, outdoor pool and rec room, shop and equipment. This is the new affordable housing market. and homeowners 2016 3,229,416 527,918 Expansion possibilities. Asking $8,500,000 2018 Gross income on track for over 650k • Properties available for sale or lease 2015 2,897,031 498,778

-Alberta: • Protected territories with 2014 2,899,462 329,291 -Grande Prairie 65 pad city serviced. Asking $3,790,000 key brands for retail 6.4% cap 2013 2,833,085 252,210 - Bassano 8 pad park City Serviced. All owner occupied • Strong operational synergies units. $300k ﬁ rm. between both businesses and * includes Owners Discretionary Expenses Church or School Property Langley opportunities for growth Zoned P1 Institutional 4.24 Acres Level cleared acreage fronting on Fraser Highway at 248th St. Existing older home tenanted. For Sale for $1,950,000 as an Asset or Share sale Asking $4,299,000 BILL SUMMERS including $925,000 in Working Capital Direct Line: 604-626-8894 [email protected] www.sellingmobilehomeparks.com For more information, please email [email protected] OCTOBER 2018 | WESTERNINVESTOR.COM LOWER MAINLAND | A17

FOR SALE FForor SSaleale Pitt Lake Acreage: $6,160,00000 INDUSTRIAL BUILDING • Hotel 8% Cap - 3 liquor licenses, Total Acreage (7 Separate Titles): 733.04 Acres fully renovated, price $9 million Conveniently Located 16 Miles East of Downtown Vancouver • $150 million development - Vancouver • Industrial buildings and parcels in Burnaby • Hotels, High-rise Sites, Shopping Malls, Land assemblies • $70 million dollar gold mine in BC for sale ready for production • High rise site 400,000 square foot buildable In the heart of Gloucester Industrial Estate, in Vancouver Langley, 17,336 sq ft Concrete tilt up building Please contact: Sunil Rekhi PREC on 30,883 sq ft M-2 zoned site, 24 ft ceil- CELL: 604-318-3430 OFFICE: 604-439-2266 ing warehouse with A/C offices, Two docks [email protected] loading, Good tenant on NNN lease. COMMERCIAL/ INVESTMENTS and DEVELOPMENTS / HOTELS COFFEE FRANCHISE Re/Max City Realty 2808 Kingsway Unit #102, Vancouver B.C V5R 5T5

Kindersley, SK – 72 MH & 59 RV pads .....4,700,000 McKenzie, BC – 113 pads, 17 ac ...... 3,250,000 Boston Bar, BC – 40 pads, 25.5 ac ...... 1,375,000 Rosemary, AB – 57 pads, 9 ac ...... 750,000 Tumbler Ridge, BC – 48 vacant strata pads ...576,000 Well known “WAVE” coffee shop in Down- Chetwynd, BC – 17 pads & house, 7.75 ac ....649,000 town Vancouver business district, close to An investment property within the Lower Ashcroft, BC – 8 pads, 0.64ac ...... 399,000 Gas Town & Simon Fraser campus, good Mainland! Located on the north end of Pitt Lake, Shaunavon, SK – 17 pads, 3.66 ac ...... 370,000 this riverfront property is a fly-fishing paradise and high traffic corner exposure, will train and offers numerous recreational opportunities! The easy to manage. HarryH Jesse views are breathtaking with snow capped TollT free: 1-888-251-2822 mountains, fronting the Pitt River, rated one of the DAVID TAM FRI DirectD Line: 604-302-3771 top fishing rivers in Canada! Royal Paciﬁ c Realty Fax:F 1-888-804-1394 WebW site: www.mobileparks.com 604.606.7900 [email protected] www. niho.com 604-2908698 Email:E [email protected] [email protected] Homelife Glenayre Realty

ricktoor.com Rick Toor [email protected] Ofﬁ ce: 604-795-2955 Personal Real Estate Corporation GLENAYRE REALTY Cell: 604-897-0260 CHILLIWACK

Commercial Investment DEVELOPMENT PROPERTY NEW FOR SALE 8,276 Sq ft C2 zoned property for Sale! Building plans have been submitted to City of Chilliwack to allow for 2900 square feet of commercial and 2 fl oors of residential (5 apartments). A great project for the right builder/developer. There is a 3 bedroom 1 bathroom home on the property. 9361 Mill Street Commercial / Residential 3 Units @ 8705 Young Road Asking $699,900 FOR SALE Building For Sale FOR SALE/LEASE 2 story residential/commercial building on a 2 ground fl oor commercial units 1,081 Sq. Ft. - 1,555 Sq. Ft. CSM zoned NEW LISTING 4,440 Sq.Ft. lot on popular Mill St. in the heart of with a total of 2,181 sq. ft. commercial spaces for sale/lease. Downtown Chilliwack. Beautiful modern/vintage style As well as 2 two bedroom, 1 bathroom One unit set up as a doctor’s offi ce. building completely renovated in 2015. 3 ground fl oor 1 acre of M2 Industrial land for Sale. commercial units plus 3 residential units on the second second fl oor residential units above. Located in a high traffi c count area. Located in the Industrial area fl oor with a gross building area of 7,320 Sq. Ft. Lots of Potential rent for the entire building Lots of parking. of Chilliwack. parking in the back. Tons of foots traffi c. C3 Zoning. could range between $4,000-$5,000/month Join restaurants, fi tness center, and more! Asking $2.8 Million Asking $749,900 Call for details! Call for details! Business for Sale

Pizza Business Liquor Store FOR SALE FOR SALE

35 year establishment Convenience Store Well established liquor store located in Automotive Repair Business located in Mission, B.C. the popular Augustong sttono CCommunityomom of FOR SALE FOR SALE Very busy with tons of Abbotsford.d. SSuSubstantialubsb tat LnttiaiaDl deddevelopmentev Proﬁ table convenience store for sale located potential innSSOLD thetheh O areaarea whichwh will bring Successful automotive repair business on Menzies St. close to Fairﬁ eld Island in growth potential. tons of business growth! Turn key located in Chilliwack. Chilliwack. Located in a busy strip mall. Approx. $400,000/year in sales. Room to add more product to increase sales. operation and very easy to manage! Established for over 20 years! Call for more information. Asking $98,000.00 Asking $229,900.00 Asking $785,000.00 Asking $120,000.00 A18 | LOWER MAINLAND WESTERNINVESTOR.COM | OCTOBER 2018

B.C. | WHAT’S HAPPENING Office vacancies plunge, rents rise taxpayer’s information to a Taxman to share third party. Under the CMHC proposal, info with lenders? income would be verified by giving lenders direct access to CRA data on a potential bor- rower’s income. Not everyone is on board with the idea, with some noting that the mortgage Metro region, all but three delinquency rate has fallen are speculative plays and the Canada Mortgage and Housing to near-record lows, even as majority of these developers Corp. (CMHC) is considering housing prices have risen. are trying to pre-sell rather calling in the Canada Revenue Dustan Woodhouse, a than lease the space. Of the 10 Agency (CRA) in a bid to battle Vancouver-area broker with biggest office projects planned an increase in mortgage fraud. Dominion Lending Centres for downtown Vancouver, half “The industry’s current de- argues that mortgage fraud is have no space sold or leased tection tools have not kept not a big problem in the hous- and only two are fully booked. pace with the increasing so- ing market. Due to new U.S. tariffs, The Exchange office tower nears completion, with a hotel at its base. | ROB KRUYT phistication of threat we face,” “Mortgage fraud is a non- the price of steel rebar, a a CMHC statement reads. issue in Canada, and the ar- key building component in acancy rates for all office class- and beyond. In the meantime they In an emailed response rears rate largely bears that concrete construction, had es in downtown Vancouver are utilizing flexible swing-space CMHC stated “there is no out,” Woodhouse said. He increased 58 per cent as of Vhave further lowered to 4.5 per provided by third-party space pro- specific timeline in place for claims that, after handling this August compared with cent, down from 5 per cent a year ago. viders like WeWork and Spaces to hold the co-operation with Canada 3,000 mortgage applications, a year earlier, said Anoop Class A office vacancy rates are even them over until their new offices are Revenue Agency on income he has seen only one case of Khosla, president of Surrey- lower, at 3.9 per cent. At the same completed. verification,” but industry fraudulent income reporting. based Midvalley Rebar Ltd. time, Class A average gross rents are “As vacancy rates continue to fall, sources expect it could roll out “Arrears are triggered 99 per and regional chair of the Can- continuing to climb with annual rates it’s not unusual to see tenants re- as early as this October. cent by the three Ds: death, adian Coalition for Construc- exceeding $51 per square foot, accord- newing leases or even considering a CMHC is Canada’s largest divorce, and disability,” tion Steel. ing to a survey by Devencore, a real move to the suburbs,” Bishop said. mortgage insurer. In the first Woodhouse claims, “That’s Half of all B.C. construction estate brokerage and advisory firm. “There is very limited sublease space half of this year, it insured the reality that I perceive, rebar comes from the United “The market is showing no signs of available in the market and limited 107,000 homes. along with many very experi- States, with the remainder slowing down in terms of rental rates. direct vacancy in the downtown According to an Equifax enced mortgage brokers across coming from Asian countries. With no major new office buildings area.” study last year, there has been Canada.” Aside from a small Alberta delivered to the market until 2021, Suburban office properties on tran- a 53 per cent increase in mort- facility, the rest of the steel tenants with upcoming leases are sit, however, continue to be in high gage fraud since 2013, though used in B.C. construction is competing within a very tight mar- demand, and tenants can expect to it did not indicate the number Developers steel sourced from mills in Ontario ket,” said Jon Bishop, executive vice- pay close to downtown rental rates for of fraud cases. A survey by the and Quebec. president and managing principal of these prime locations, Bishop noted. debt-rating firm also found for higher prices In May, the U.S. Trump ad- Devencore’s Vancouver office. “Due “With a few years before new supply that 13 per cent of Canadians A huge spike in the price of ministration slapped a 25 per to the forecasted high demand of the hits the market, tenants are forced would be comfortable fudging imported steel, higher lumber cent tariff on Canadian steel new developments coming up, we are to plan two to three years in advance a mortgage application. prices and rising labour rates exports. On July 1 Canada re- seeing trends with large space users for their growth and get creative in Lenders accept CRA state- may threaten the speculative taliated with matching tariffs pre-leasing new AAA-class office their search for office space,” Bishop ments of income that can be building that dominates Met- on U.S. steel. The federal gov- space slated to be delivered in 2021 said. ■ printed from the CRA web- ro Vancouver’s development ernment is currently in con- site and, some say, are easy industry. sultation with stakeholders Canada as the trade war continues. building a 25-storey office tower or a to alter. Currently, the CRA Of the 25 major industrial in an effort to prevent Asian The latest price hikes for steel have large industrial warehouse, Khosla is not allowed to provide a projects underway across the steel being “dumped” into added about 6 per cent to the cost of estimated. ■

REAL ESTATE GROUP

Based on 2016- 2018 MLS Statistic Report

20621196 LAWRENCEFAIRVIEW RD, AVENUE PENTICTON VINEYARD, PENTICTON BC Mobile Home Park 5126 9TH AVE, OKANAGAN FALLS

sale Coming Court order Soon MLS® 171150 $770,000.00 MLS® 173362 $1,100,000.00 Keremeos, BC MLS® 168709 $1,399,999.00 + 30.466 bedrooms acre lot and with flex older room 2 bed above house & grocery store + 4.45 acre vineyard overlooking Skaha lake + 18 Pads Mobile Home Park + Prime development site of 1.846 acres in the + BrightHigh profile and open corner level site entry development main living area + Older 4 bedroom home and outbuildings + Additional Land heart of Okanagan Falls + HighPrime Quality site for finishes multi-family and developmentbeautiful exterior + Suitable for winery, highly respected vineyard with + Average pad rents $380/month + Ideal location for condo or multi-family project + LargePossible fenced 10 townhomes, backyard Pinot Noir and Gewürztraminer vines +Call for Details + Just 10 minutes South of Penticton, views of + Zoning allows for vacation rentals + Full production grossing $72,000 per year Skaha Lake 123 FRONT ST, PENTICTON BC 3202 28TH AVE, VERNON BC 22031004 DARTMOUTHHOLDEN ROAD RD PENTICTON 1004STRIP HOLDEN MALL PENTICTON, ROAD BC

MLS®MLS® 1589158909172934099 $1,800,000. $319,000.$$3199,0000.000 MLS® 158603170828 $2,200,000. $189,900.00 MLS® prices from $320,000.00 EXCLUSIVEMLS® 158840 $3,100,000. $515,000.00 RE/MAX PENTICTON REALTY + Highest1/4 acre qualityof prime construction development land + Prime2 bedroom Downtown plus family Vernon room commercial home property ++ New New Building 3 bedroom commercial plus den strata ++ 14,000New 3 sq/ftbedroom strip plusmall denon 1.2 acres EACH OFFICE INDEPENDENTLY + 3C5 bedroom zoning: most3 bathroom flexible with and doublesought garageafter in city + 31,000+Double french sq/ft on doors 0.54 openacres onto private backyard ++ Unique Fully developed C7 zoning, daylight industrial basement & retial ++ PrimeFully developed location adjacent daylight to basement major shopping centre OWNED & OPERATED + ShortDevelopment walk to the permit village & archetectural and ski lifts plans + LongHuge termfront leaseback yard allowing for lots of privacy ++ Units Large from covered 1277 veranda to 1600 withsq/ft park views ++ FullyLarge Leased, covered N.O.I. veranda of $188,000 with park views 101 - 3115 SKAHA LAKE ROAD, + StainlessDevelopers steel can appliances choose to do an original plan + NOILocated $157,000 on a no-through CAP 7.145% road in Summerland ++ Completion Stunning quality is estimated with detached for October garage 2018 ++ ZoningStunning allows quality for withresidential detached and garage commercial PENTICTON, V2A 6G5 OCTOBER 2018 | WESTERNINVESTOR.COM SERVICES | LOWER MAINLAND | SEA TO SKY/SUNSHINE COAST | A19 TAX LOSSES FOR SALE BC & AB COMPANIES (Real Estate Related) 9 separate company losses: Investors! ($1.5m to $13m) Strata-Titled Rental Building in Chilliwack for sale Currently consisting of 26 condos and Total of: $30 million 4 commercial units (which can be converted to 10 condos). Built in 2013. Single Owner. Deal direct with owner Add to portfolio as a rental or sell off Flexible terms! Excellent Value! individual units for a profi t! Great central location. MLS# C8021069 Contact William Please call or email Jim Braich for more info. (phone / email) 1-888-252-1250 604-859-3141 Phone or text 604-657-1270 [email protected] [email protected] Commercial Property Financing Homelife Glenayre Realty We fi nd you the fi nancing you need. Our team has decades of experience with Prime Waterfront $1,000,000 ALL types of commercial real estate: Development Opportunity Sunshine Coast NEW $$2,990,0002,990,000

2597sf mixed use retail + residential in busy retail corridor of New Westminster. Ideal for small investor or owner/user. Future low rise development potential. Call for details. DON ELLIS • 1200ft commercial grade dock 604-442-3911 • Operational Marina • Mixed zoning allows for single family, Marina, Motel, Lodge & Restaurant • 2 acres RECENT TRANSACTIONS • 1400 sq.ft. house Chris Moore 604-741-8289 SOLD [email protected] OFFICE STRATA INVESTMENT Bronson Moore 604-989-3472 400-4460 Beresford St, Burnaby [email protected] 1,880 SF; 3 parking stalls

Metroplace in the heart of Metrotown a well maintained professional office strata corner unit with a unique ex- crosbymoore.com posure at level with the Skytrain line and visible on Beresford Street. POWELL RIVER OPPORTUNITIES LEASED RREDUCEDEDUCED RETAIL 460 Granville Street, Vancouver Prime Downtown location

Forecast to open early 2019! Vancouver Block at located at the 16 UNIT APARTMENT BUILDING corner of Granville and West Pender Fully leased, long term tenants. Well-maintained, Streets. newer roof. Many units fully renovated. 5.55% cap rate at asking price. $1,450,000 FOR SALE

JESKE CORPORATION CENTRE 207-19978 72nd Avenue, Langley Call Agent for Price; 1,922 SF AIRPORT BUSINESS PARK LEASE SPACE Several ofﬁ ce & shop bay units available. Ranging Rare investment opportunity in AAA from 600 – 5000 sqft. Well-maintained building. professional office building. Long Close to airport and downtown. Go to term lease with a Dental specialist. http://warrenbehan.com/for-lease/ for more details Geothermal building with 124 shared parking stalls.

ASHLEY OSBORN PATRICIA WONG CHONG Personal Real Estate Corporation Personal Real Estate Corporation 604 356 5452 604 780 3889 RE/MAX Real Estate Services [email protected] [email protected] N410-650 West 41st Avenue Vancouver, BC V5Z 2M9 INDEPENDENTLY OWNED AND OPERATED Each Office Independently Owned and Operated.

Land & Hotels & Office & Acquisitions & Leasing & Development Investments Retail Dispositions Sales A20 | VANCOUVER ISLAND WESTERNINVESTOR.COM | OCTOBER 2018 Victoria multi-family strong but rental regulations looming FEATURE | Rental sales and starts remain voracious despite proposed new rules that could dictate size and rent increases

$300,000. The majority of apart- By TANYA COMMISSO ment building transactions are in [email protected] the $1 million to $3 million range, according to a report by Colliers ictoria’s multi-family International. Sales of rental market is poised to entice buildings valued at more than $1 Vlandlords for the foresee- million reached $25.8 million in able future, following a summer the second quarter. of record home starts in the re- Average monthly rents in the gion and a vacancy rate of less city are $1,000 for one-bedroom than 1 per cent. suites and close to $1,300 for two- Canada Mortgage and Housing bedroom apartments. Corp. forecasts the region’s 0.7 Rental demand is expected to per cent vacancy rate to remain increase with the ongoing in- tight throughout 2018. flux of young tech professionals More than 2,000 rental units moving to Victoria, pushing its are currently under construction unemployment rate well below and are expected to hit the market This 12-unit apartment building in Victoria recently sold for $3.2 million, or $266,667 per suite. | AVISON YOUNG the national average of 5.8 per this year and into 2019, with more cent. Unemployment in the city than 5,000 in the pipeline or de- of recommendations from a new negative connotations on that.” “This type of requirement will is just 4.2 per cent, the lowest velopment process. New supply Rental Housing Task Force by the Hogan is calling for more con- limit the ability of developers to across Canada, bolstered in part is expected to edge up vacancy BC NDP government could limit a sultation on the City of Victoria bring a diverse housing supply by three major post-secondary rates only moderately, however. landlord’s ability to increase rents policy introduced in September, to market and limit the ability of institutions – University of Vic- Nearby Langford is having its when a tenant vacates, cautions which would require strata de- developers to respond to market toria, Royal Roads University and own rental-housing boom, ac- LandlordBC. velopments of 40 or more units conditions,” Hogan said in a letter Camosun College – and provin- cording to developer DB Services As well, a proposed new Victoria in the city core to have 15 per to council. cial government and other pub- Victoria. More than 900 units bylaw requiring 10 per cent to 15 cent be classified as affordable. But if sales volumes are any lic-sector employment. were started in the municipal- per cent of all new condo projects Developers with projects under indication, developers should In the second quarter of 2018, ity during the first eight months to classify as affordable units may 40 units would be able to make still bet on Victoria multi-family two major real estate investment of the year. Rental housing pro- present developers and landlords a cash contribution in lieu of the projects. Sales for rental apart- trust sales are estimated to ex- jects in the city are lined up for with new challenges. An estimat- affordable units. ment buildings in 2017 hit $146 ceed 2017’s half-year sales vol- the next five years – so much so ed 6,200 affordable housing units Victoria city council is also million, up from $127 million the ume total of $108 million. Both that DB says it’s had to turn away are needed to satisfy demand, ac- considering instating a size min- year before. transactions were new purpose- new project proposals. Build- cording to a report from Colliers imum for all affordable hous- Per-suite value was placed built rental apartment buildings, ing permits in Greater Victoria International’s Victoria office. A ing built in the city’s downtown at $215,132 in 2017, but current one on Yates Street in Victoria have grown nearly 30 per cent healthy share of condos end up on core. The city currently imposes prices in the core can easily top and a development in Langford. ■ month-over-month. the rental market. a minimum size of only 355.2 DB Services is currently con- “We want to make sure that [the square feet in multi-use pro- structing three rental projects bylaw] doesn’t stop developers jects outside of downtown. The SNAPSHOT OF VICTORIA RENTAL MARKET in the region, including the 93- from building condos,” Kathy Victoria Downtown Residents Rental vacancy rate: 0.7% unit The Arc on Hockley Avenue, Hogan, executive director of the Association would like to see a Average rent for a 1-bedroom $1,000 Brock Commons student resi- Urban Development Institute limit enacted to curb the influx dence and the 90-unit Danbrook (UDI) capital region branch, told of micro-units cropping up of Average cost per MF rental suite: $215,400 One on Claude Road. the Times Colonist. “If the policy late. The UDI is worried about Rental units under construction: 2,241 Meanwhile, implementation is too stringent, then it could have this idea as well. SOURCES: COLLIERS INTERNATIONAL, CANADA MORTGAGE AND HOUSING CORP.

Jim Knowles Personal Real Estate Corp. Ed HHandjaandja & SShelleyhelley MMcKaycKay 250-318-0497 Cell 250-374-3331 Ofﬁ ce PERSONAL REAL ESTATE CORPORATION PERSONAL REAL ESTATE CORPORATION www.nvesta.ca Your BC Oceanfront Team REAL ESTATE (KAMLOOPS) Specializing in Unique Coastal Real Estate in British Columbia EEd:d: 2250-287-001150-287-0011 • SShelley:helley: 2250-830-443550-830-4435 TT.F..F. 11-888-286-1932-888-286-1932 [email protected] & [email protected] ADVERTISE 2869 SOOKE ROAD WHERE INVESTORS ARE LOOKING 3344 LUXTON ROAD

3370 LUXTON QUATSINO LODGE CAMPBELL RIVER DEVELOPMENT OPPORTUNITY ROAD West coast Vancouver Island. Fantastic opportunity 0.83 acre, 250 ft oceanfront, unobstructed panoramic to acquire a profi table, established 5200 sqft fi shing ocean views. RM4 zoning will accommodate high lodge. Turn-key operation, substantial moorage, density development and the owner would entertain LANGFORD BC, VANCOUVER ISLAND fl eet of high-end fi shing boats. Repeat clientele. joint ventures with qualifi ed builders/contractors. 14 KM FROM VICTORIA HARBOR $2,200,000 $1,495,000 Commercial Development Opportunity 13.3 fl at Acres/Zoned BP2A (Sooke Rd) 2869 Sooke Road, 3344 & 3370 Luxton Road ICX.CA # 397358 Retail, grocery, gas station, medical center, schools, licensed premises, drive thru, offi ces to 703 FLOATPLANE OPERATION FULL SERVICE MARINA four stories. Section 219 covenant in place. Stage Central Vancouver Island. Profi table, established, Pierre’s at Echo Bay, Gilford Island. Substantial 1 environmental complete. Very active surrounding operating fl oatplane company with all licenses, moorage and accommodation facilities, fuel sales, R2 developments. Sales package available at 604.669.8500 aircraft and facilities required to conduct business. general store, dining hall. 3.8 acre island and 10 listing realtor [email protected] Domestic and International Licenses, share sale. acre oceanfront property. Broughton Archipelago. $19,990,000. TOLL FREE 1.800.661.6988 WESTERNINVESTOR.COM $1,790,000 $1,900,000 Aerial Video/photos available for commercial & acreage listings View at web page www.nvesta.ca www.bcoceanfront.com OCTOBER 2018 | WESTERNINVESTOR.COM VANCOUVER ISLAND | A21

FOR SALE Money Maker! www.ianlindsay.ca Fennell’s RV Repair Rare multi-family development site neighbouring park land in the heart of Victoria, BC Nanaimo, amidst new construction. Owner retiring from 50 year business in View Zoning permits 11 stories and 611,000 Royal (Victoria suburb). Gross sales over :$ /.21:$7(5)5217 02%,/(+20(3$5. square feet buildable; or do 3 buildings $1,000,000 yearly repairing RVs for dealers, 5HYHQXH3URSHUW\ 1HDU4XDOLFXP%HDFK owners, ICBC, etc. Owners take handsome wages 6XLWHV $FUHV of 6 story wood frame construction. No • 5HVRUW5HQWDO • 3DGV currently plus the business pays taxes on earn- • 3HUVRQDO8VH offsites required. Walking distance to • 6XLWH0XOWLIDPLO\%XLOGLQJ • &DVK)ORZ ings as well! Leased premises, stock and inven- • &RWWDJH hospital, VIU, shopping, etc. Build out • &RPPHUFLDOO\=RQHG tory of approx. 55K is extra. Asking $449,888. 5HVLGHQWLDO8VDJH would offer expansive ocean & coastal Owner will train (currently 5 employees total). Ian Lindsay FRI RI(BC) mountain views from 2nd story up. Personal Real Estate Corporation J. Ross Bruce 113 W 2nd Avenue Subdivision underway to create 2 parcels [email protected] Qualicum Beach 250-744-7564 Vancouver Island, BC West Coast Realty 250.951.6531 | 250.752.2466 V9K 1T5 Offered at $7,000,000 [email protected] Victoria

Sub-dividable, level 5.6 acres with View Royal, Victoria, BC community water. Unobstructed Ocean THETIS COVE ESTATES view directly across from the beach on Qualicum Bay. 2100 sqft European style • 8.5 Acre site - 400,000 sq.ft buildable rancher, VIHA approved air tight shop for • 370K residential, 30K commercial food manufacturing. Semi-Oceanfront, • 19 SF Lots, 31 Townhouses, Zoned RS2 - permitting 1/2 acre lots. • 112 Hi-Rise, 87 Low-Rise Potential to rezone to RECREATION/ • Current Zoning allows 250 units TOURIST/COMMERCIAL use as outlined • Adjacent to Esquimalt Harbour in the OCP future land use. $1,350,000 Exciting Development Opportunity ASKING $15 Million Sandy Clark PREC* 250-668-9878 DANIEL HSU and DAVID BILLINGHAM Personal Real Estate Corporation Pemberton Holmes Commercial, [email protected], 250-384-8124 [email protected] Royal LePage Nanaimo Realty

Bob Moss Scott Forbes Randall Taylor [email protected] [email protected] [email protected]

RESORT DRIVE, PARKSVILLE UCLUELET 4535 UPLANDS DRIVE, NORTH NANAIMO COURT ORDERED SALE Outstanding property in Parksville’s Only one unit left in this attractive new OPPORTUNITY popular Ocean Sands Resort! 135 Prideaux St, Nanaimo commercial building by Windley Contracting .41 acre property Business and one strata unit; in popular north Nanaimo area. Zoned COR3 Redevelopment Property - $1,900,000.00 on busy Ucluelet Zoned CS 2. (Community Corridor), this 1,348 sq ft strata Located on the edge of the thoroughfare with Purchase a unit in this unit awaits your finishing touches. $465,000 downtown core and Old City COMPLETE PACKAGE - COOMBS approx. 2,930 sq premium real estate develop- Retail marine & Quarter. Four lots totaling commercial/ ment in a popular North boat building residenal BUSINESS OPPORTUNITY - For over 35 years approx. 20,855 sq . business, land and building this family business has provided service and Nanaimo locaon and join a Zoned DT-8.

buildings, including repair of tanker trucks and other heavy variety of medical, health and residence, all on Business, equipment from its South Nanaimo locaon. $624,900.00 approx. 4.9 acres inventory, other professional service land & building Zoned I-2. Business only: $1,900,000 REDUCED: $545,000.00 close to Parksville, providers. $1,200,000.00 Business & 3 lots (almost 3 acres) $4,475,000 Great Opportunity! zoned C-3.7. $3,900,000.00

Ed Williams 250-589-0969 [email protected] Associate Sue McKitrick 250-650-8823 Brokers Nick Brown 250-710-3732 [email protected] Associate Broker | Comox Valley [email protected] Cowichan Valley Unique Historical 501 CANADA WAY Investment opportunity in 170 DOGWOOD ST, CAMPBELL RIVER Cumberland Home downtown Duncan - approx. 12,822 sq ft commercial 2-storey, approx. 4,680 commercial zoned building with ample parking and excellent exposure and Commercial zoned & (C-2) building minutes from downtown, access. Four commercial units on ground floor and 4 could be developed. many uses. Adjacent property available for $1,949,000.00 apartments above. Zoned DTC. 2691 Penrith Ave. $674,900.00 addional parking. $649,900.00

ONLY A FEW UNITS LEFT AT POPULAR 225 CANADA AVENUE! INVESTMENT OPPORTUNITY - 1520 TAMARAC STREET, High exposure locaon in the heart of Duncan. Ample street and CAMPBELL RIVER 100% occupied with long-term City parking, on-site maintenance and management, handicap federal government tenants in place, this approx. 5,240 access. Compeve lease rates starng at $9.00 per sq net. sq building is on .347 acre and oﬀers excellent visibility Don’t miss out - call Ed or Nick! and access. $875,000.00 A22 | VANCOUVER ISLAND WESTERNINVESTOR.COM | OCTOBER 2018

DONE DEALS | OUR READERS REPORT ON COMMERCIAL REAL ESTATE

261 acres of agricultural land with access to U.S. border, Bench Road, Chilliwack, sold for $6.1 million. | VARING MARKETING GROUP

Two apartment buildings with a total of 26 units with adjoining 10,454- square-foot lot, on Bertram Street, Kelowna, sold for $6 million. First Tower in Calgary has sold to U.S. investors for $107 million. | HINES | HM COMMERCIAL GROUP

FROM | HM Commercial Group, FROM | Cushman & Wakefield, CALGARY OFFICE DEAL SECOND-BIGGEST IN CANADA Macdonald Realty Kelowna. HM Vancouver. Cushman agent Har- Downtown tower is B-class and nearly half-empty but new U.S. owners plan Commercial agents Jeff Hudson preet Singh reports: and Marshall McAnerney report DEAL | 12.56-acre residential de- to renovate it to Class A standards the following sales: velopment site across two land DEAL | Waterfront RV park and parcels. Mt. Lehman Road and algary’s First Tower has been purchased by acquisition during the recent energy downturn.” agricultural land parcel totalling Cardinal Avenue, Abbotsford. U.S. investors Hines and Oaktree Capital Previous owners H&R Real Estate Investment Trust 44 acres. Landry Crescent, Sum- Price: $26 million. CManagement in a $107 million deal said to and Dream spent $17 million upgrading the 27-storey merland. Price: $8 million. be the second-largest commercial transaction in Class B office tower. DEAL | Two apartment buildings FROM | NAI Commercial Okanagan. Canada during the second quarter of this year. The new owners plan on investing significant totalling 26 units with adjoining NAI agents Mike Geddes and Jeff The two U.S.-based firms announced the acquisi- capital into the building to bring it up to a Class A 10,454-sqaure-foot lot. Bertram Hancock sold the following: tion in September – Oaktree on behalf of a “subsidi- standard, according to a Hines statement. Street, Kelowna. Price: $6 million. DEAL | 12,360-square-foot corner ary of real estate funds” it manages. The 708,354-square-foot tower is 51 per cent leased DEAL | More than an acre of de- lot zoned for high-rise, mixed-use “We are pleased to acquire this office asset where to tenants such as Encana, TransCanada and Telus. velopment land located near development, Water Street, Ke- we have the ability to provide a compelling value Hines is a Houston-based privately owned real es- Okanagan Lake. Lakeshore Road, lowna. Price: $1.9 million. proposition to our tenants,” Hines managing dir- tate investment firm founded in 1957 with a presence Kelowna. Price: $4.9 million. NAI agent Michael Marckwort ector Syl Apps said in a prepared statement. “As a in 201 cities in 24 countries. Hines has approximately DEAL | 11,120-square-foot, one- sold: firm, we believe in, and are committed to, the city of $111 billion of assets under management and 108 de- storey retail building, Dougall DEAL | Two commercial buildings Calgary with First Tower being Hines’ second office velopments currently underway around the world. ■ Road, Kelowna. Price: $1.3 million. totalling 89,056 square feet, with

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Glacier Media Digital offers a full range of digital For a free consultation on marketing services, combining creative strategy and Glacier Media Digital services. deep audience data to help promote your business. Contact a Western Investor representative Get more clicks. Get more leads. GetMoreDone.ca [email protected] OCTOBER 2018 | WESTERNINVESTOR.COM VANCOUVER ISLAND | A23

DEALS ACROSS WESTERN CANADA DONE DEALS | Our monthly feature highlights some of the major property and land transactions across Western Canada’s vibrant commercial real estate market

Residential development site totalling 45,800 2.36-acre townhouse development site near square feet, Clifton Place, Edmonton, sold for $9 Willoughby Town Centre, 80 Avenue, Langley, sold million. | CBRE EDMONTON for $8.07 million. | FRONTLINE REAL ESTATE SERVICES

More than an acre of development land near Waterfront RV park and agricultural land totalling Okanagan Lake, Lakeshore Road, Kelowna, sold 44 acres, Landry Crescent, Summerland, sold for for $4.9 million. | HM COMMERCIAL GROUP $8 million. | HM COMMERCIAL GROUP potential to be redeveloped to FROM | Varing Marketing Group, residential. Victoria Street, Kam- HomeLife Glenayre Realty. Agent loops. Price: $1.8 million. Joe Varing reports: DEAL | 261-acres of agricultural FROM | Nationwide Realty Corp., land. Bench Road, Chilliwack. Surrey. Nationwide agents Ray Price: $6.1 million. Arneja and AJ Jaswal report: DEAL | 40-unit motel on a FROM | CBRE Edmonton.CBRE 33,570-square-foot lot. Colum- agent Bradley Gingerich sold: 12.56-acre residential development site, Mt. Two commercial buildings totalling 89,056 square bia Street, Kamloops. Price: $2.6 DEAL | Residential development Lehman Road and Cardinal Avenue, Abbotsford, feet, with potential for residential rezoning, Victoria million. site of 45,800 square feet, Ed- sold for $26 million. | CUSHMAN & WAKEFIELD Street, Kamloops, sold for $1.8 million. | NAI COMMERCIAL monton. Price: $9 million. FROM | Frontline Real Estate Servi- ces Ltd., Langley. Frontline agent FROM | Avison Young, Vancouver. Mike Harrison sold the following: Avison Young agent Chris Wieser DEAL | 2.36-acre townhouse de- sold: velopment site near Willoughby DEAL | 108-unit rental complex Town Centre on 80 Avenue, Lang- of three buildings on 2.39 acres, ley. Price: $8.07 million. Kelowna. Price: $16.6 million.

12,360-square-foot corner lot zoned for highrise, 11,120-square-foot, one-storey retail building, CLOSED A MAJOR COMMERCIAL DEAL IN WESTERN CANADA? mixed-use development, Water Street, Kelowna, Dougall Road, Kelowna, sold for $1.3 million. SUBMIT TRANSACTION DEALS AT WWW.WESTERNINVESTOR.COM/ sold for $1.9 milion. | NAI COMMERCIAL | HM COMMERCIAL GROUP DONE-DEALS/DONE-DEALS-FORM

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Ensure your community knows you are an expert and open for business A24 WESTERNINVESTOR.COM | OCTOBER 2018

7300 Vedder Rd. BOB PLOWRIGHT CHILLIWACK, BC [email protected] REALTY 1-800-830-7175 www.bobplowright.com 604-858-7179

FOR LEASE IN CHILLIWACK FOR SALE

PROFESSIONAL OFFICE SPACE WAREHOUSE UNITS FULLY LEASED INVESTMENT RESTAURANT BUSINESS FOR SALE

RETAIL/OFFICE WAREHOUSE FOR FOR LEASE FROM UNITS SALE: SALE: $12 to $16 From $12.00 to Per sq. ft. TN $12.50 /Sq. Ft $1,695,000 $1,250,000 TN

Premier professional office space on main access Kermar Centre...access to major roadways between Sardis and downtown Chilliwack Warehouse units from 2,743 to 15,250 sq. ft. Net to Owner Annual Sales for the Ideal for lawyers, accountants, doctors, dentists, medical services practitioners etc. Brand new concrete tilt-up construction Over $86,000 Year Ending Feb. 2018 Ground floor space with separate outside entry Grade loading, 26’ clear height ceilings Annually in excess of $2,250,000 2nd floor with full elevator access 3 phase/200 Amp Ample onsite parking Exceptional hands free investment . Occupied by the Successful food and beverage business with over RETAIL/OFFICE BUILDING same qualified long term stable tenant since 2005. 36 years of profitable business operation. High Current new 5 year lease with option. All expenses profile restaurant location since 1982. Serving well Freestanding Retail/ BRAND NEW RETAIL paid direct by tenant. Prime location within a blk of over a 100,000 guests per year with no gimmicks or Office building with Eagle Landing Shopping Centre that includes come ons…just quality food at a fair price. Menu Drive-Thru Walmart and Home Depot. Good return, exceptional items are prepared fresh daily. Extensive list of 15 Former RBC location tenant, prime location and excellent quality building long term employees averaging over 12 years’ Excellent exposure Ease of ownership, well worth consideration. Ideal for: Bank, insurance, medical, SUCCESSFUL U-VIN/U-BREW INVESTMENT PROPERTIES FOR LEASE government, fast food New Hotel/Retail development providing 30,000 sq. 4,572 sq. ft. Landlord will assist ft. of retail space $29/S.F. TN Site includes 3 high exposure pad sites and retail FOR SALE: with changes units from +/- 1,200 sq. ft. to +/- 10,000 sq. ft. RETAIL SPACE FOR LEASE Located at the high traffic HWY 1 interchange $124,000 LEASE FROM $18 SQ. FT. TN 46675 Yale Rd. - 1,720 sq. ft. High profile Profitable business in Chilliwack FOR SALE: $1,495,000 next to IGA Market and liquor store. Doctor, RETAIL/OFFICE SPACE U-Vin/U-Brew Business with over 20 years of PORT HARDY dentists, Pharmacy/retail? $10/sq. ft. TN success and growth Hub of North Vancouver Island 7319 Vedder Rd - 1,370 sq. ft. Excellent Prime retail space with high exposure and with some of Current gross sales in excess of $260K Area enjoys tourism and eco-tourism exposure, onsite parking in Sardis area. the highest traffic counts in Commercial Center for Port McNeill, Port Alice, $12/sq. ft. TN the Chilliwack area HIGH PROFILE FOR LEASE Winter Harbour and more 7010 Pioneer Ave.—1,681 sq. ft. High pro- Mix of long term tenants including Scotia Bank, Up to 4,280 sf retail space on file in Agassiz. Resturant, dentist, doctor, LEASE FROM lower floor health care office, optometrist, hair salon, restaurant lawyer, bookstore? $12/sq. ft. TN $6.00/SQ. FT. TN Office space on 2nd floor Property in good condition, new roof in 2008 Performa CAP Rate 8.49% on asking price OFFICE SPACE FOR LEASE RETAIL UNITS 1,474 sq. ft. Office space: Includes recep- 2 units @ 662 sq. ft. FOR LEASE: $29/SQ. FT TN FOR SALE: tion, multiple offices, 1 unit @ 1,064 sq. ft. & High profile property zoned CS-2 (Tourist Com- 1 @ 1,325 sq. ft. mercial) $1,495,000 work area. Prime retail space Easy Access for large trucks Lots of parking Onsite parking Adjacent to Superstore, Marks Clothing and Huntingdon Station Sumas Way & 3rd Ave. Excellent exposure Superior building with 5 units LEASE FROM Located on High across street from Starbucks & Kal Tire LEASE FOR Visible from HWY 1 profile corner High profile, high traffic area near freeway & shops $12.00/SQ. FT. TN .87 acres of land with 4,648 sq. ft. warehouse/ $12.00/SQ. FT. TN Ask about incentives Storefront Shows a good net profit storage and 2,980 sq. ft. retail/display area A solid investment with opportunity to increase OFFICE RETAIL UNITS OFFICE WAREHOUSE Plenty of onsite parking lease rates to market WAREHOUSE SPACE FOR LEASE RETAIL/OFFICE FOR LEASE New high quality tilt up KEY PLAZA building New commercial retail Warehouse, 3,253 sf building Staples Business Depot 2,500 sf ground floor, air Downtown High profile 1,472 sq. ft. Industrial Grade loading, 3 1,239 to 5,515 sq. ft. 612 to 2,289 sq. ft. 1,065 sq. ft. conditioned Office area, 22’ clear, rollup door phase, 225 AMP Ideal for retail stores, CAM includes elec. perfect for retail/service 6 offices, reception, work 3 phase power WAREHOUSE FOR LEASE food outlets, doctors, Heat and A/C Plenty of parking area, boardroom, kitchen Onsite parking $12/SF TN Office, 1,049 sf dentists etc. Lease incentives! Amazing exposure Plenty of onsite parking Excellent Sardis location OFFICE Lots of bright windows FROM $17 to Ask about incentives Lease from $9.50/sf TN Lease $25/sf TN Lease $16.00/sf TN Lease from $13.00/s.f. TN $7/SF TN & open space $19/SQ FT TN

Ray Yenkana CCIM, ABR. REMAX LITTLE OAK 800-668-8661 [email protected] www.rayyenkana.com (listing details) Port Kells Industrial 19,700 sf industrial building with dedicated offi ce space in the WE HAVE QUALIFIED INVESTORS front portion. 6 warehouse bays plus large fenced storage yard IF YOU HAVE A at the rear a one-acre parcel with M-1A Zoning. Fully leased. Campbell Heights Owner may carry some fi nancing or long completion. Call now 2.5 acres of industrially designated land near current development. RAYPOSITIVE YENKANA’S CASH FLOW PROPERTY, for details. Al Bainbridge at 604-533-3491 Services are close. The property is fl at and clean with no creeks AL BAINBRIDGEand good soil conditions.SPACE Good access with two road frontages. LET’S CHAT. Rented house. A rare opportunity that won’t last long so please SPACE call Al Bainbridge at 604-533-3491 and arrange for your personal I HAVE QUALIFIED BUYERS viewing. FOR LAND AND COMMERCIAL PROPERTIES A very unique property! Price Reduced WITH REVENUE. All set up for farmgate sales. Currently a high volume butcher shop 27,000 sq ft Industrial Site Prime Langley but easily converted to different product. Grow your crop on the 11 acres and sell your product on site. Has a large house, City location! 2 triplex rented buildings on two titles. Call now a manufactured home and a barn, shop and several outbuildings. for details. Al Bainbridge at 604-789-1804. LARGE RESIDENTIAL For more information call Al Bainbridge at 604-533-3491 Al Bainbridge at 604-533-3491 BUILDING LOT Al Bainbridge 604-533-3491 3/4 acre east side of Abbotsford. Personal Real Estate Corporation $499K [email protected] Vancouver Office: 604 683 7535 TF: 1 866 717 6989 Langley Office: 604 534 7974 TF: 1 800 890 9855 naicommercial.ca Realizing Potential, Delivering Results.

Richmond View Offices 153-Ac Recreational Land Arbutus Ridge Golf Club 8451 Bridgeport Road, Richmond Lacombe County, Alberta 3515 Telegraph Rd, Cobble Hill, BC An entire (or portion of) top floor in $27k in annual surface lease Profitable 137 Acre, 18-hole, 6,152 a brand new Class A office building revenue to 2032 yard championship golf course. Located in the International Trade 3 water licenses, 2,800-sf clubhouse 12,698 SF clubhouse with Centre (completing Winter 2018) Zoned Lacombe County, P-R restaurant and lounge, golf shop, 17 Strata offices totalling 8,881 SF Asking: $12,500 per acre and full banquet facilities. Asking: $8,000,000 Jesse Godin Asking: $6,800,000 Rick Lui* & Dan Goldstrom (NAI Advent) Gary Haukeland* & J-D Murray 604 644 6182 604 691 6636 | 403 809 8326 [email protected] [email protected] [email protected] [email protected]

CONTRACTUNDER

Retail/Office Units Pre-Sale Holding Property For Sale Property For Sale 20487 65th Avenue, Langley, BC 16216 - 20th Avenue, South Surrey South Surrey Holding Property Across from Costco 1.1+ acres currently zoned RA 2715 - 156th Street, Surrey, BC Retail/Office units (959 – 3,963 SF) OCP “Business Park” Designation Home on 1 acre with income Uses include specialty stores and (Mixed Employ. Use) Morgan Crossing Area professional offices Located in the Hwy 99 Corridor High Growth Area Available Spring of 2021 Area with good holding income Rare Opportunity potential from Home and Shop Asking: contact agents Asking: $3,788,000 Asking: $4,330,000 FIRST NATION STEPS Angie MacDonald* & Gary Niesner Chris Langhaug Chris Langhaug 604 534 7974 604 240 6224 604 240 6224 UP WITH 110-ACRE townshipcommons.com [email protected] [email protected] INDUSTRIAL PARK LAND LEASES FOR 97 YEARS | 10

Industrial Strata For Sale Freestanding Industrial Bldg Church & House For Sale Cloverdale, BC Chilliwack, BC 5663 & 5673 200th St, Langley, BC 7,092 SF Industrial Strata Unit Church: Two-storey 13,650 SF 1,000 SF add’l mezzanine space 22,000 SF Industrial building building on 0.87 acre (38,245 SF) 2 Grade level doors Lot Size: 1.27 acres lot zoned P-2 Institutional use Can be demised to 2 separate units CD-12 Zoning House: ±1,300 SF building on Investor or Owner/user ± 2,000 SF Office ±16,542 SF lot zoned RS1 residential Fenced Yard/Outside Storage (can be rezoned to Industrial) Asking: $2,100,000 Asking: $4,550,000 Church: $3,625,000 Don MacDonald, CCIM House: $1,250,000 Angie MacDonald* Ken Kiers* Don MacDonald, CCIM 604 514 6824 | 604 514 6823 604 209 2222 604 514 6824 [email protected] [email protected] [email protected]

*All asterisks indicate Personal Real Estate Corporation WHERE INVESTORS ARE LOOKING

MARKETING COMMERCIAL REAL ESTATE IN WESTERN CANADA

2017 Media Kit COMMERCIAL REAL ESTATE | FRANCHISES | BUSINESS OPPORTUNITIES $4.29 • OCTOBER 2018 • VOL33/10

REVERBERATIONS | 8 PIPELINE DELAY ALARMS NORTH Trans Mountain ruling has idled spill response boats and spooked firms across northern British Columbia

BUYING A BIZ | 16 MEASURING “GOODWILL” Business broker Arthur Klein explains that intangibles play role in assessing market value

CONTENTS Full index 3 JIM MUIR Numbers 4 Recreation 6 HOTELHOTEL VETERAN OPENS Northern pipeline 8 Alberta plays 12 PEAK ASSET IN THE Buying a business 16 Man-Sask report 18 ALBERTA ROCKIES MALCOLMMAALCOLM DEFINESDEFINES LULUXURYXURY | 10 PUBLICATIONS MAIL AGREEMENT 40069240 1 0 0 6 0 3 5 8 1 8 2 9 1 9

Read online at www.westerninvestor.com B2 | INTERIOR BRITISH COLUMBIA WESTERNINVESTOR.COM | OCTOBER 2018

MOBILE HOME PARK FOR SALE TOWN HOME DEVELOPMENT QQuesnel,uesnel, BBCC ATTENTION INVESTORS! Town home development with Okanagan Lake view, mountain view, and city view for sale. Minutes from West Kelowna’s downtown, public transportation, schools, parks, and other amenities. Currently in the rezoning phase. It has already passed fi rst and second reading. Plans and other specifi cations available. Currently tenanted, so by appointment only. $1,790,000 MLS: 10164474/10164482 • 65 home sites, no vacancy, potential I HAVE QUALIFIED BUYERS LOOKING TO BUY MINI STORAGE OR MOBILE HOME PARKS OR LAND THAT ALLOWS IT! 22 additional sites • City water/sewer • 19 acres, 2 titles Scarlett Barber B.A. 778.215.0445 PERSONAL REAL ESTATE CORPORATION [email protected] www.sellwithscarlett.com ORCHARD COUNTRY • Asking $1,950,000 13012 Victoria Road North Summerland BC, V0H1Z0 Dean Caine 250-747-1851 Each offi ce is independently owned and operated

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This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2018. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls Inc.

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Contents | OCTOBER 2018

FEATURES FEATURES & NEWS JUMBO JUMPS AS SQUAMISH WAITS 6 The Numbers The snap stats that matter in real estate 4 The Jumbo ski resort has finally leapt hurdles in the Goodwill hunting Kootenays, but bid on the Intangibles can decide a business’ value 16 Sea-to-Sky Highway still stalled in approval lane CRE INVESTORS HIT RECORD 12 Calgary played a key role as Canada’s commercial real estate sector set record for investment volume during the first half of 2018 ADVERTISING DIRECTORY DE LUCA’S EXPANDS IN WINNIPEG 18 Interior B.C. 2-7 Manitoba’s De Luca’s Northern B.C. 7-9 Specialiaty Foods celebrates Alberta 9-17 50 years in business by Saskatchewan/Manitoba 18-19 opening a second, bigger location in south Winnipeg MORE OPPORTUNITIES SECTION A Lower Mainland, B.C. and Vancouver Island COVER FEATURE Jim Muir, president of Clique Hotels, opens the luxury Malcolm Hotel in Canmore as Alberta’s hotel market revives | DHZ MEDIA 10

Call: 604.669.8500 or 1.800.661.6988 | Fax: 604.669.2154 | Email: [email protected] or visit us online at: www.westerninvestor.com | 303 WEST 5TH AVENUE, VANCOUVER, B.C. V5Y 1J6

Serving the Okanagan & BC Interior | naiokanagan.ca Sales, Leasing & Property Management

For Sale For Sale For Sale For Sale 9415 & 9419 Spartan Drive, Osoyoos, BC 2648 Kyle Road, West Kelowna, BC 550 Doyle Avenue Kelowna, BC Rare 730 FT of prime development 10.33-acres Rare 1.644-acre downtown Kelowna 8259 Wallace Road, Vernon, BC lakeshore on Osoyoos Lake I-1,SOLD Light Industrial Zoning redevelopment site 40-acres with subdivision potential 1.913-acres over 3 individual parcels Asking: $10,330,000 Multi-tower, high-rise development Lake & valley views Sewer and water available opportunity already zoned (C7) Asking: $799,000 Town of Osoyoos supportive of 4400 & 4600 Canoe Beach Rd, Salmon Arm Proximal to the two largest employment development for low density projects 8.75-acre development site: two adjacent drivers in the downtown core (IHA and 1290 70th Street SE, Salmon Arm, BC Asking: $3,450,000 parcels of 3.75-acres and 5-acres OCI) Licensed gravel pit operation R-4 zoning allows for 40 units per hectare Potential for holding income 42.4-acre parcel 3417 27th Avenue, Vernon, BC Asking: $999,000 Never before on the market Subdivision potential 7,288 SF warehouse with office Asking: $12,700,000 Artesian spring water Residential suite potential Tim Down, AACI, P. App, CAE, RI Asking: $2,495,000 Loading dock 250-864-9140 Reduced: $499,000 [email protected]

For Lease 2293 Leckie Road, Kelowna, BC REDUCED 2 units available (2,823 SF or 4,751 SF) Loading at grade and dock For Sale 18 FT celling Large Land Holding Opportunity For Sale Lease Rate: $12.00/SF, triple net Businesses For Sale 4502 Pyman Road Mike Geddes*, B.Comm. Kelowna, BC 3946 – 3976 Beach Avenue, Peachland, Sushi Restaurant, Kelowna, BC BC 250-878-6687 The opportunity is made up of eight [email protected] Profitable 70 seat Sushi Restaurant for (8) individually titled Ranch Land Resort/Hotel Site sale in high traffic location. parcels just south / southeast of Black 4.1-acre, tourist commercial zoned land Growing revenue and income. Mountain, to the north of Highway 33 with 800+ FT of beautiful Okanagan Eastern boundary of Kelowna Lake front Asking: $299,000 A rare chance to acquire approximately Asking: $9,600,000 Italian Bistro & Gelateria, Kelowna, BC 1,488-acres of land partially within the 4740 Trepanier Road, Peachland, BC Businesses For Sale Turn-key operation with top of the City of Kelowna 42.75-acres bordering HWY 97C and Record & Memorabilia Shop, Kelowna, BC line equipment and designer Tenant Improvements. Asking: $25,000,000 Trepanier Creek Greenway Lifestyle business located in Cultural Zoned A1 and is not in the ALR District with consistent revenue and profit Located in AAA Office Building in Lower Mike Geddes*, B.Comm. growth – loyal clientele. Mission (1 year left on 5 year lease). 250-878-6687 Asking: $1,990,000 Asking: $150,000 incl. inventory Asking: $229,900 [email protected] Mike Geddes*, B.Comm. Collin Sawatzky, MBA, B.Sc. Collin Sawatzky, MBA, B.Sc. Jeff Hancock 250-878-6687 250-864-1030 250-864-1030 250-575-0537 [email protected] [email protected] [email protected] [email protected]

*All asterisks indicate Personal Real Estate Corporation B4 | INTERIOR BRITISH COLUMBIA WESTERNINVESTOR.COM | OCTOBER 2018

LEADING TRENDS | THE NUMBERS Our monthly BANK OF CANADA snap stats showing leading trends 1.50% OVERNIGHT affecting western real estate LENDING RATE ast year, Alberta defied critics by recording the country’s biggest gross Ldomestic product growth of 4.9 per Commercial and industrial real estate Building permit values cent. In 2018 and 2019, the province appears poised to yet again buck naysayers Office vacancy rate downtown* Industrial vacancy rate+ Vancouver $797 million with an increase in GDP of 2.4 per cent and Vancouver 5.1% 1.4% Calgary $508 million 2.5 per cent, respectively, said RBC. Calgary 26.8% 5.8% Edmonton $383 million The oil-producing province is showing Edmonton 16.5% 6.9% Regina $29 million signs of recovery with stronger oil prices Regina 10.7% 4.1% Saskatoon $70 million and an increase in commercial real estate Saskatoon 15.1% 8.6% Winnipeg $171 million investment. Commercial transactions in Winnipeg 8.8% 2.8%

Calgary hit $2.5 billion during the second SOURCE: COLLIERS INTERNATIONAL Q2 2018, JLL CANADA Q2 SOURCE: STATISTICS CANADA, JULY 2018 quarter of 2018, led by Oaktree Capital *DOWNTOWN VACANCY RATE +CENSUS METROPOLITAN AREA Management’s $107-million acquisition of First Tower. Total monthly retail sales Apartment rental vacancy MLS home prices (all types combined)* In British Columbia, GDP is expected to grow 2.5 per cent in 2018 – down from B.C. $7.1 billion Vancouver 0.9% Vancouver $1,083,400 3.9 per cent last year. GDP growth in 2017 Alberta $6.9 billion Calgary 6.3% Calgary $432,200 expanded at its fastest pace since 2005. Saskatchewan $1.7 billion Edmonton 7.0% Edmonton $364,925 The 2018 predicted decrease is due in part Manitoba $1.7 billion Regina 7.0% Regina $277,600 to labour shortages and a slowing housing Saskatoon 9.6% Saskatoon $293,900 market. Winnipeg 2.7% Winnipeg $286,500 “We believe that a tight supply of labour *ALL TYPES OF HOMES COMPOSITE PRICE, METRO REGION SOURCE: CANADA MORTGAGE AND HOUSING CORP. SOURCES: CREA, LOCAL REAL ESTATE BOARDS AND ASSOCIATIONS AS OF AUGUST 2018 is already restraining economic growth in SOURCE: STATISTICS CANADA, JUNE 2018 RENTAL MARKET REPORT, OCTOBER 2017 several provinces this year. This is espe- cially the case in British Columbia where one in every 24 jobs was unfilled in the Labour Provincial economic outlook first quarter,” reads a province outlook Real GDP growth 2018 2019 report by RBC. Unemployment rate Average weekly wage However, strong population growth in B.C. 5.3% $963 3% B.C.’s Lower Mainland is expected to bol- Alberta 6.7% $1,142 ster household spending through the next Saskatchewan 6.7% $1,022 couple of years. Manitoba 5.8% $930 2.25% The national economy in 2017 had one SOURCE: STATISTICS CANADA, AUGUST 2018 SOURCE: STATISTICS CANADA, JUNE 2018 of its strongest years since 2011, with no 1.5% region posting a negative GDP growth for the first time in seven years. Resource sector

Predictions show that B.C. and Alberta 0.75% will continue to post GDP growth above Gold Copper Oil Natural gas

the Canada average. Canada GDP is ex- $1,204 $2.60 $69.91 $2.82 2.5% 2.2% 2.4% 2.5% 1.5% 1.9% 1.9% 1.7% 2% 1.8% 2% 1.8% 0% pected to grow 2 per cent and 1.8 per cent per pound per pound WTI/per barrel per gigajoule B.C. Alberta Sask. Manitoba Ontario Canada in 2018 and 2019, respectively. ■ SOURCE: NASDAQ – Tanya Commisso ALL PRICES IN U.S. DOLLARS; PRICES AS OF SEPT. 11, 2018 SOURCE: BMO

HM COMMERCIAL REPORT - JUST RELEASED Focusing on the Land & Development, Investment, Retail, Office and Industrial Markets in the Okanagan. THE HM CRYSTAL BALL: THE AMAZON EFFECT E-commerce is driving innovation in land use & planning, even development as a whole. Bricks and mortar retail needs to 87.18 ACRES KELOWNA BC KELOWNA MIXED USE COMMERCIAL UNIT adapt as CNN predicts 25% of shopping Prime farmland. Currently operated as a turf Prime downtown location. Fully leased 3 story centres could go bankrupt in the next 5 years. farm with 56 acres of irrigated land + artesian strata unit. Ground fl oor space leased to es- water well. Has 2 large homes, a 40 x 80 ft tablished restaurant, 2nd fl oor offi ce space We may not have a crystal ball, but we’ve heated workshop, numerous outbuildings. & 3rd fl oor is a residential unit 2 bedrooms, turned to the experts to ask for their Land suitable for wide variety of agricultural 2 baths. Has 3 parking stalls in parkade. opinions on the future of our City... uses. MLS R10164028 $7,200,000 MLS R10161734 $1,550,000 Download now at: hmcommercial.com/reports

Turtle Bay Crossing High Proﬁle Commercial Building 1850 Oceola Rd, Lake Country, BC Kelowna, BC

234 LAWRENCE AVE, KELOWNA, BC KELOWNA MIXED USE COMMERCIAL UNIT Vacant building with 2,800 sqft leasable space, 50 x Prime downtown location. 3 story strata unit in CONTACT US 120 ft lot, 9 parking stalls. Building is a shell space & potential to split into two 1,400 sqft rental units. prime location. Ground fl oor space leased to Leasehold improvements required to maximize rental established restaurant, 2nd fl oor offi ce space HMCOMMERCIAL.COM • Lake Country’s newest shopping • 2 acre corner location with Highway income. C7 zoning allows offi ces, retail stores, and & 3rd fl oor is a residential unit 2 bedrooms, government services, fi nancial services restaurant’s Macdonald Realty centre - GLA of 53,162 SF exposure & liquor primary establishments (minor). 2 baths. Has 3 parking stalls in parkade. $1,550,000 Kelowna • IDA Pharmacy, Anytime Fitness, • 9,228 SF building suitable for owner/ MLS R10167664 $1,345,000 MLS R10161751 Pizza Hut, Starbucks, Liquor Store, occupier 2700 Richter Street offices • Upside potential through DAVID JUROME 250-862-1888 Kelowna, BC V1Y 2R5 • 5% Cap Rate redevelopment/densification PREC P: 250.712.3130 Price: $18.5 Million Price:$6,000,000 [email protected] [email protected] OCTOBER 2018 | WESTERNINVESTOR.COM INTERIOR BRITISH COLUMBIA | B5

OPTION 1 BUY OUT - 10 years 2018-2028 150 days due diligence Deposit - completion late 2019 ADVERTISE Payment 2019 - $1,000,000 WHERE INVESTORS Payment 2020 - $1,000,000 ARE LOOKING Balance paid over years to 2028 OPTION 2 JOINT VENTURE - 10 years ‘THE JEWEL OF THE OKANAGAN’ 150 days due diligence 33 ACRES - HIGH DENSITY/COMMERCIAL Deposit - completion late 2019 Across water to Kelowna City Park - Yacht Club Buyer develops +/- $10,000,000 Owner giving 10 years to develop -2018-2028 Seller’s Lands +/- $30,000,000 125 year prepaid lease. Westbank First Nations Payment 2019 - $1,000,000 DO THE MATH: What’s land worth today? Payment 2020 - $1,000,000 If 2500 to 3000 units at $40,000 per door = Land sales split 25% / 75% $100,000,000 to $120,000,000 Parties investments paid back... MAPS AVAILABLE FOR INTERESTED PARTIES Proﬁ ts - split - These numbers are for discussion purposes only, prices and terms will vary depending on the structure 50% buyer 50% seller 604.669.8500 of the contract of purchase and sale. All parties to be represented by their lawyers TOLL FREE 1.800.661.6988 WESTERNINVESTOR.COM Will Loudoun 250-470-1144 Sage Executive Group Real Estate

Larry Berisoff 250-862-8100 [email protected] Each ofﬁ ce independently owned and operated

Southern, B.C. B.C. Southern Interior Sunshine Coast Opportunity Vernon, B.C. • Beautiful 100 Acre Riverfront RV Development • Equipment Rental Businesses • Excellent Location in a Beautiful Area • Excellent Liquor Store and Popular Pub • 126 RV and Cabin Lots - 44 Have been Sold • Sell the Remaining Lots and Develop More • 2 Locations -Includes Real Estate • Market, Deli, C-Store. Very Popular • Located on Highway 97 with Easy Access • Business Only, Long Term Lease in Place • Excellent Septic and Water Systems in Place • Excellent Income & Longevity • Rural Agency Store (Must Apply For) • Located Between Creston and Cranbrook • Store Sales Well Over $ 2,000,000! • Qualiﬁ ed Buyers Please! • Bonus 3 Bedroom Detached Home • Small Log Cabin for the Owner • Not Many Like This in the Okanagan! • Excellent Access of Highway 3 / 95 Asking $5,100,000 & $1,200,000 Asking $1,998,000 Asking $1,498,000 Asking $1,950,000

South Okanagan, Penticton Southern B.C. Nakusp, B.C. The Whole Package! • Very Nice 32 Unit Motel • Excellent Liquor Store and Pub • 39 Unit Motel – Most Rooms Inside Access • Free Standing Liquor Store • Pub and Restaurant – 1 Kitchen! • 2 – 2 Story Buildings. Beautiful Courtyard with Pool • Same Owner for Many Years • Nice Manager’s Suite and Amenities! • 36 Rooms and 3 More Possible • 2 Bedroom Living Area. Walk to Restaurants & Beach • Includes Land & Building – Very Well Kept! • Solid Simple Business! • Excellent Location on Yellowhead Hwy. • Hard to Find Okanagan Opportunity with Strong Sales! • Great Location! Very Good Businesses! • Beautiful Area, Hot Springs, Lake, Scenic! • Excellent Volume! Room for Expansion! Asking $3,598,000 Asking $4,600,000 Asking $2,298,000 Asking $3,898,000!

Starter Motel Clinton, B.C. Mackenzie, B.C. Salmon Arm, B.C. • •Highly Proﬁ table 24 Unit Motel • 13 Unit Senior Residence. Each has a 2 Piece Bathroom • 12 Units, 5 With Kitchens – Concrete Block Building • 14 Unit Motel on the Cariboo Highway • Current Owner offers 3 meals a day and 24-Hour Supervision. • Well Rounded Business • Updated living Area that is Very Nice! • Easy to Operate, Many Repeat Guests Opportunity to Expand Services • Most Guests stay Multiple Days • Purpose Built Excellent Kitchen and Dining Area • About 3.5 Hours from Vancouver • Excellent Business! Not Many in the Price Range. • Geothermal Heating System - in ﬂ oor Fork Lift, • Price Includes a 0.56 Acre Vacant Lot • Separate 2 Bedroom Owner’s Modular Home • Extra Lot with a Shop on it also Included • Very Nice Second Level Owner’s 3 Bedroom Home • Do Not Ignore This • Adjoining Properties Available for Expansion Asking $459,000 Asking $549,000 Asking $1,800,000 Asking $1,398,000 www.SyberRealty.com B6 | INTERIOR BRITISH COLUMBIA WESTERNINVESTOR.COM | OCTOBER 2018 Kootenay ski hill approved; Sea-to- Sky bid still in talks RECREATION | Jumbo receives green light after 24 years but Squamish-area hill remains in lengthy consultation

developers could embark on only The year-round Jumbo Glacier Resort in the Kootenays is planned to have 23 lifts, a 3,000-metre-high a scaled-down version of their re- gondola and 5,500 beds. | GLACIER RESORTS LTD. By GLEN KORSTROM, sort with fewer than 2,000 beds. & HAYLEY RITCHIE “Glacier Resorts [Ltd.] (GRL) will and that not all the evidence had their determination to stop it. ahead based on an environmental BUSINESS IN VANCOUVER ask the province to carry out the been considered in the decision- “Our clients will continue to assessment that is years past its [email protected] judge’s instructions expeditious- making process,” Costello said. engage with the minister to en- sell-by date,” said Ecojustice ly,” GRL said in a release. Environmentalists opposed to sure he has the full picture and Canada legal policy adviser Alan evelopers of the proposed GRL had spent about 24 years the project were not swayed from does not allow a project to go Andrews.■ Jumbo Glacier Resort in jumping through various hoops DB.C.’s Kootenays region re- and government approval pro- ceived a big win August 17 when BC cesses when Polak, on June 18, Brohm Ridge has environmental, Aboriginal approval Supreme Court Justice Carla Forth 2015, stunned GRL executives by quashed a 2015 B.C. government announcing that she did not think Proponents behind a ski resort bid for Brohm Ridge near Squamish say every- decision not to extend a necessary that this “substantial start” had thing is up for discussion as they move into consultation for their master plan. environmental certificate, and taken place. “We’re now coming to city council and the community on how we can make awarded them court costs. GRL senior vice-president Grant our plan better so it meets the community need,” said Jim Chu, vice-president At issue was former B.C. en- Costello told Business in Vancou- of the Aquilini Investment Group, at the most recent information session be- vironment minister Mary Polak’s ver that he thought that she erred fore district council this summer. unilateral ruling that developers on a number of basic points – the The proposed resort would be located 15 kilometres north of Squamish and cover nearly 2,800 hectares. The current plan includes two villages and mul- had “not substantially started” main one related to how much Rendering shows partial plan tiple chairlifts, and proponents said 80 per cent of the site would remain green work on the project by October time the developers had to do work for new resort near Squamish. space. 12, 2014. That was a pivotal rul- on the project. He said that they | SUBMITTED ing because that substantial start did not have more than 40 days of Garibaldi at Squamish Inc. received environmental approval from the provin- was necessary for developers to construction, because of the red cial government on January 29, 2016, along with 40 legally binding conditions the company must meet. continue to build their original tape put in front of them. A number of those conditions involve protecting rivers, salmon spawning habitat and human-bear conflict. The con- vision for the resort: 23 lifts, a Costello said that work that had ditions also require limiting withdrawal from the Paradise Valley aquifer and providing at least 10 per cent of resort 3,000-metre-high gondola and been done included building a bed units for employee housing. 5,500 beds. permanent-access bridge, foun- “Getting the environmental approval was a huge step forward,” said Rod MacLeod, Garibaldi at Squamish’s vice- Forth ruled that Polak’s deter- dations for a day lodge, a service president of planning. mination was “unreasonable,” building and a chairlift. MacLeod said the developer is now seeking feedback from the community for the master plan. He said that, opti- with the result being that Jumbo “We were confident in the mistically, construction on the resort could begin in four years. A number of steps need to be taken before then. Glacier Resort executives now ex- strength of our case and I think The proponents are now crafting a master plan that will need to be approved by the mountain resort branch of the pect current Environment George the judgment, which came out Ministry of Forests. Heyman to reissue that environ- sooner than expected, was very The project has the support of the Squamish Nation, but in the past it has faced opposition from the District of mental certificate. clear in indicating that the min- Squamish, the Squamish-Lillooet Regional District and the competing Resort Municipality of Whistler. Without that certificate, ister’s decision was unreasonable OKANAGAN – B.C. INTERIOR FOR SALE INVESTMENT OPPORTUNITIES

MOBILE HOME PARKS OLIVER - SOUTH OKANAGAN SALMON ARM

Popular Creston Restaurant 25 Rooms in Grand Forks • Very Proﬁ table Creston Restaurant • Solid Producer for over 40 years 12 Mobile Home Sites • 12 Sites on 2.0 Acres • Original Owners with Experienced Staff • New Owners Suite 6 Rental Cottages, 3 Park Owned Units • 10 Minutes to downtown • Price Includes Renovated Building • Excellent Location Annual Gross $138,000 +/- • Recently updated water supply • 2 Bedroom Suite on Second Floor • $300,000 + in Recent Renovations • Full occupancy • Rental Rate Upside • Full occupancy • 6.0% return Asking $399,900 Asking $1,298,000 - Assets • Price $1,625,000 • Price $575,000 OSOYOOS BUILDING LOTS Buying Commercial Real Estate in BC? ● Desirable east bench location ● Prime cul de sac of new homes ● Full city services ● Building Scheme Ensures High Quality Homes ● Developer ﬁ nancing available Be represented by a Priced at $195,000 to $199,900 + GST ● CCOMMERCIALOMMERCIAL BBUYER’SUYER’S AGENTAGENT. VADIM KOBASEW Experienced and Effective C OMMERCIAL REAL ESTATE SPECIALIST 250-490-7959 / 1-800-567-6770 Ron Palmer 250-804-3744 [email protected] RE/MAX PENTICTON REALTY, PENTICTON, BC [email protected] OCTOBER 2018 | WESTERNINVESTOR.COM INTERIOR BRITISH COLUMBIA | NORTHERN BRITISH COLUMBIA | B7

Invest $3.5 Million With Developer For Control LAKEFRONT In Seniors Residence And Earn 27% + Yield on Completion 4000 Sq Ft To LEASE South Okanagan 7 ACRES - 450 ft. Shoreline Located just 5 minutes from Kamloops Current use is Mobile Home Park in the Village Centre of Sunrivers Development Income ($31,800/m) secure and ever increasing Sunrivers.com All city services and 18 hole pro golf course E-Mail: [email protected]

Call Bill Babcock 604 230-9392 for details $6,500,000

www.rickmcdaniel.ca BUSINESS AND INVESTMENT OPPORTUNITIES • Only 20 Minutes to downtown Kamloops. River front from this 32 acre property with a spacious updated home and inground pool. Outbuildings include horses shelter/tackroom, hay storage, and garage/workshop. Plenty of irrigation for your hayfi eld. Asking $750,000 Rick View video at vosrealestate.ca 122 4717 LAKELSE AVENUE 4905 KEITH AVENUE • 3 Business Opportunities in One 84 acres on McDaniel South Thompson River - Kamloops - Consisting of High Visibility retail space. On Terrace’s 4512-4520 LITTLE AVENUE 3.3 Acres of subdividable C3 commercial very productive hayfi elds plus a vineyard and gravel main street, this 11,000 square-foot land. This land has a Phase 1 250-615-1558 Well located multi-family lot two blocks pit - 5 bedroom, 3 bath residence. Operate one or all Cell Environmental survey performed in 2014 of these opportunities. This property has water license space is modern, open and ready to go. from downtown, 1 block from the local Offi ce 250-638-1400 Centrally located within 1/2-block of the clearing the land for subdivision and and is subdividable. Priced at $1.5 million Recreation Centre, walking distance to further development. This land is highly Toll Free 1-866-951-7223 Skeena Mall, Canada Safeway, Save-on schools. Up to 42 Apartments units or visible and accessible from Highway 16. DWIGHT VOS Foods, and 4 banks--this is right in the RE/MAX 23 Town Homes maximum with this Long term tenant occupies offi ces in phone: (250) 554-4511 heart of Terrace’s downtown commercial zoning. This location is ideal for urban COAST MOUNTAINS Southwest Corner of the property. BEST-WEST REALTY LTD. KAMLOOPS Each offi ce Independetly Owned and Operated core! development! $475,000 4650 Lakelse Avenue, Terrace, B.C. $1,300,000 email: [email protected]

Jim Knowles Personal Real Estate Corp. Dawson Creek and Area 250-318-0497 Cell 250-374-3331 Offi ce Fantastic opportunity! With 13.5% CAP rate (as per appraisal) projected. www.nvesta.ca Existing Car Wash, RV park and Mobile home park on 5.88 acres in Dawson REAL ESTATE (KAMLOOPS) Creek. 1. RV PARK: 87 RV stalls serviced with water, sewer & hydro. 2. MOBILE HOME PARK: 16 mobile home pads & rental house serviced with For Sale water, sewer and hydro. 3.CAR/TRUCK WASH: 4 bays, 1 truck/rv bay 60’ West Kootenay Self Storage long. 3 bedroom living accommodation. Asking $2,270,000.00. MLS 173139 Nelson BC LNG Investment Opportunity • 360 Storage units 70 acres zoned commercial/industrial in Dawson Creek on Hwy 2 • 30 Outside Parking (Edmonton Hwy), Great location & access, all City approval and • Suite and Shop engineering done, ready to develop NOW! This property is prime • 85-90% Occupancy for development. Asking $4,590,000.00. • 1.5 ha MLS 169447 • Room for expansion Price $4,100,000.00 @7% CR SHOP FOR SALE on 1.65 acres with 4 - 100 feet drive thru bays Burke 250-354-8515 this building ideally located to profi le your business. Total sq KAMLOOPS MARINE RETAIL [email protected] ft of 11,700 sq ft includes the shop (100x100) and two separate SALES & SERVICE - $2,253,000 offi ce area with washrooms of 1700 sq ft. The yard is gravelled and fenced and backs on to Highway 2 east (Edmonton). Asking Domenic’s Marine INC., $2,100,000.00. MLS 171133 461 Dene Dr. Kamloops,BC FOR LEASE Located on the Edmonton Highway this shop has 2 separate Award winning sales of Mercury, Lowe & ADVERTISE WHERE shop space for lease. Shop 1 - Is a total of 6,000 sq ft (3,400 is 3 bay shop Lund. 13,200 sq. ft. of showrooms /shops, INVESTORS ARE LOOKING with 14x14 ft doors). Shop 2 - Is a total of 3,340 sg ft (2,856 sq ft shop with insulated/ceramic tiled fl oors, steel buildings on 3 - 14x14 ft doors). Both buildings are situated on a shared 1.928 acres slab, fi nished to a very high quality, valued at lot, fenced and graveled on water and sewer. Very low property taxes, 1,292,000. Walk in and run or hands free with extremely well built building and in good condition. Asking $13.50 sq ft management with share interest staying. On two triple net, Immediate possession available. MLS 173971 fl at acres this operation in a highly developed 6.15 and 4.237 Acres of Development Land in Dawson Creek. retail/industrial area serves central BC and Highly visible to all traffi c from Alberta border, close to the airport, Northwards. 35 years in operation this business and directly across from major retail & hotel development. The provides a consistent cash fl ow return from C3 Highway Commercial zoning allows anything from car-wash/ storage, building rentals, repair and sales. Open service station to hotel I motel to retail. Asking $150,000.00 per all year. 2,670,000 gross sales 2018. Vendor Acre. MLS 170604 may fi nance portion. 604.669.8500 High end executive offi ce space with 3 bays shop on a high visibly Aerial Video/photos available for commercial & acreage listings TOLL FREE 1.800.661.6988 WESTERNINVESTOR.COM lot on Highway 2. Total of 7,249 sq ft with 2,876 sq ft offi ce and View at web page www.nvesta.ca 4,373 sq ft shop. Total of 8 offi ces, boardroom, 3 bathrooms, big reception area. Finished with modern colors, solid door’s, top end fl ooring, etc. Secure compound with electric gate, paved parking, 7.72 Acres with Hwy 97A Exposure excellent signage. Asking $15.00 sq ft NNN. MLS 169564 WELL KNOWN AUCTION FACILITY $3,000,000 FOR SALE OR LEASE 903 Raffan Road, Armstrong, BC 12,500 sq ft steel frame shop with 5 – 100 ft x 25 ft drive thru bays, COMMERCIAL - 836 feet of frontage adjacent to Hwy. 97A 1,920 sq ft offi ce for a total of 14,420 sq ft. Situated on 5.016 acres OPPORTUNITY gravel and fenced yard, High visibility location on Highway 2 between Vernon and Armstrong (Edmonton). Selling Price $4,550,000 or Lease $25.00 sq ft NNN. - Zoned C4 for a variety of uses MLS 173741 - 8500+ square foot concrete block building w/ various ceiling heights DAWSON CREEK’S COMMERCIAL EXPERT - High exposure, a gravel base and access built to highway standards TOM MORAN - MLS#10164771 Personal Real Estate Corporation RE/MAX DAWSON CREEK REALTY www.donkassa.com 250-784-7090 [email protected] [email protected] Don Kassa 250-549-4161 RE/MAX Vernon B8 | NORTHERN BRITISH COLUMBIA WESTERNINVESTOR.COM | OCTOBER 2018 Pipeline ruling shakes northern B.C. economy FEATURE | Trans Mountain ruling sends a chill into north where it has stopped work and threatens expansion of natural gas pipelines

date for the LNG Canada project By WI STAFF to impact that project and associ- [email protected] ated developments (including the project).” he economic foundation of Mayors in seven communities of northern British Colum- northeast B.C. have written let- Tbia has been shaken after ters in support of Coastal Gaslink. a Federal Court of Appeal rul- “We stand united in our support ing against the Trans Mountain for seeing the development of pipeline expansion. LNG Canada, and we will con- More than $2 billion in oil and tinue to voice our support for this gas projects are underway in project,” the letter states in part. the north, where word is eagerly If the NEB approves Sawyer’s awaited on the largest resource application it would hold a hear- project in Canadian history, the ing. That would lead to a federal $43 billion LNG Canada liquefied The first of 43 spill-response vessels undergoes tests in Prince Rupert, where it was built. The boats were review of the pipeline and a po- natural gas (LNG) terminal and to be deployed on the southern B.C. coast as part of the Trans Mountain pipeline expansion project, which is tential delay in construction, pipeline development that links now in limbo. | WESTERN CANADA MARINE RESPONSE CORP. if the LNG Canada consortium the northeast gas fields to Kitimat proceeds to a final investment decision. ocean ports. Board’s (NEB) approval of the the province of B.C., which has Fears precedent set Also, the Court of Appeal rul- In Prince Rupert, the first of 43 pipeline expansion. approved the pipeline. ing against the Trans Mountain new spill-response boats being Macro was to help build an But some in the north are hearing In a letter on behalf of Coastal pipeline was based on a perceived built to support the Trans Moun- 80-kilometre section of the Trans footsteps, afraid the precedent set GasLink, TransCanada vice- lack of meaningful consultation tain expansion was launched Mountain pipeline along the by Trans Mountain may help stall president of natural gas pipe- with First Nations. For the past this July. Prince Rupert-based Coquihalla corridor, a contract LNG pipeline projects. lines law Catharine Davis urged Broadwater Industries built the worth $375 million. On August 24, Coastal Gas- the NEB to dismiss Sawyer’s 10 years, a protest camp led by the 26-foot Sentinel 30 work boat and Macro president and CEO Link Pipeline Ltd., a subsidiary application. Unist’ot’en Clan of the 234-mem- landing craft for Western Canada Frank Miles was unavailable for of TransCanada, was forced to “Six years after the public pro- ber Wet’suwet’en First Nation has Marine Response Corp. (WCMR). comment. respond to an environmental cess began to decide whether been set up directly in the path of But the ruling on the Trans Surerus, in a joint venture challenge to the 675-kilometre the project should be allowed pipelines, including those linked Mountain pipeline may nix future agreement with J. Murphy & pipeline. The NEB requested the to proceed (a process the ap- to LNG Canada. vessels and B.C.’s $150 million Sons, was to build 180 kilometres comment on whether a process plicant chose not to participate Gary Wilson, a political sci- spill-response program with it. of the pipeline in the Merritt area should be established to examine in), four years after project ap- ence professor at the University “Without that pipeline, these of southwest B.C. a jurisdictional question raised in proval, and four years after the of Northern British Columbia in enhancements don’t go ahead,” Both companies are also in- an application made to the board. applicant’s similar challenge to Prince George, said the Trans Michael Lowry, a WCMR spokes- volved in the $1.4 billion North Michael Sawyer, an environ- another approved LNG pipeline, Mountain decision “could cer- man, told the CBC. Montney gas pipeline in the mentalist in Smithers, B.C., with the applicant again seeks to create tainly embolden” other Aborig- Two pipeline contractors in northeast and the $4.8 billion backing from the West Coast En- uncertainty masked in a ques- inals opposed to LNG pipelines. Fort St. John, Macro Industries Coastal GasLink pipeline to vironmental Law Association, tion of constitutional law,” Davis “It is a very murky situation,” he Inc. and Surerus Pipeline Inc. Kitimat. Coast GasLink’s line is wants the NEB to determine and wrote. “While aware of the issues said. “It’s complicated.” were immediately affected by to link LNG Canada’s proposed issue an order that the Coast Gas- raised in the application for at Murky and complicated may the shutdown of work on Trans plant at Kitimat that is expected Link pipeline is within federal least four years, the applicant has be exactly not what the northern Mountain after the court rul- to reach a final investment deci- jurisdiction and subject to the waited until the eve of the publicly B.C. LNG industry is seeking right ing nullified the National Energy sion this fall. board’s regulation rather than known final investment decision now. ■

INDUSTRIAL • 1.33 acres with all city services, paved road, fenced $229,000 • 120 acre sawmill site 15 minutes from Prince George, several buildings, scale, paved yard, 2 water systems $2,200,000 • 11,000 sq ft light industrial bldg. on .62 acre $8.00 net • 28,642 sq ft quality building on 5.36 fenced acres, cranes, sprinklered, paved parking. $2,900,000 or $8.50 net • 21 Acres close to downtown onHwy 16 E. $599,000 • 18,683 sq ft warehouse on .88 acre $850,000 or $5.50 net • 4514 sq ft light industrial/retail, great location $8.50 net Otway Road Gravel Pit • 119 acre gravel pit with 600,000 m3 of good quality gravel $989,000 • 4000 sq ft 3 bay shop andSSOLD OoffiL ceD on 1 fenced acre $650,000 or $10.00 net Leasing Opportunity DEVELOPMENT LAND Kitimat BC • 8.15 acre with city services,SSOLDOL subdividableD $119,000 • 10 acres, 570’ of Hwy 97 South frontageD close to city $150,000 SSOLDOL City Centre Mall is a 120,000 sq. ft. mall located at City Centre, Kitimat • 160 acres in city with 6300SSOLD m3OL ofD timber $189,000 • 3 acres with Hwy 97 S frontage $115,000 with a strong mix of local and national tenants and the proposed home to a $40 Billion LNG investment. BUSINESS OPPORTUNITIES/OFFICE/RETAIL 509 Carney Street • 15,000 sq ft former bank downtown $1,100,000 or $11.00 net • 2.89 acre C6 with 19,406 sq ft former auto dealership in city $3,900,000 Available Space $9.00 net • 18,000 sq ft 3 storey downtown offi ce building 4,392 Sq. Ft. retail space directly below Hotel Mstar • 148 acres with 1360 acreSSOLD woodlotOLD $275,000 • 11 unit apartment building in central location $899,000 with access to the hotel lobby • Car dealership on busy corner lot $1,500,000 or $7500 net per mo. 460 – 3,900 Sq. Ft. retail and offi ce space HANS JOHANSEN KIRK GABLE 250 960-9339 250 981-3535 Lease enquires call 1-250-632-2433 or email [email protected] [email protected] [email protected] Mcorp Investment Group OCTOBER 2018 | WESTERNINVESTOR.COM NORTHERN BRITISH COLUMBIA | B9

Residential Subdivision Court Ordered Sale 4,970 sf+/- Commercial Retail Land & Building INVESTMENT NorthEast BC ASKING $1.69 Million 5+ ACRES of ASKING $939,000 FORMER FORT ST JOHN FIRE HALL OPPORTUNITY Realty Ltd. Taylor BC Corner of 102 Ave and 100 Street Fort St John 132’ x 155’ lot 7,320+sf building FULLY LEASED HIGHWAY FRONTAGE MLS® C8014319 Fort St John, BC Investing Our ASKING $758,000 61+ Acre Subdivision WATERFRONT LAND & Asking $2.35 Million Energy In The North All the work is done! In the heart of downtown Fort St John, this corner location offers Designed and built in the 1970’s for the MLS N4507464 6,000+/- sf building excellent street visibility & foot traffic for any commercial office or retail fire hall. 2 story portion was designed for 10,400sf industrial building on 12 Lots Range from 4.57 to 6.7 acres business. Property has its own rear paved parking - an added value for Asking $2.84 Million offices on main floor and living quarters MLS® C8019259 any downtown business. 4.76+/- acres land zoned Hydro - Telephone - PNG to each lot All offers subject to court approval. on the second floor. The 3540sf shop light industrial use Reports available including All offers must include Schedule ‘A’ – Vesting Order. Central Downtown Location for your office or business area consists of four drive thru bays. For Located in Regional District jurisdiction 250 785 4115 LAND AND BUILDING environmental and survey Sale in ‘as-is, where-is’ condition (lower property taxes) but along city

Located in District of Taylor jurisdiction BEING SOLD ‘AS-IS, WHERE-IS’ City of Fort St John Zoning C2 – Downtown Core Commercial C2 allows Restaurant, Brewery/Distillery, boundary close to airport and 10220 101 Avenue Fort St John BC V1J 2B5 District responsible for all road maintenance for retail business, offices, restaurant, health and fitness, gallery and Retail Shopping Center...the city amenities. recently approved for Cannabis Retail location www.NEBCRealty.com was list of uses are endless RON RODGERS OWNER - MANAGING BROKER Email: [email protected]

Specializing In COMMERCIAL REAL ESTATE

Please no drop ins...all viewings require appointment & Representing Agent Realtor on site. RON RODGERS Recipient each year since 2011 for MLS Information is not intended to solicit properties already listed for sale, or buyers already under contract. Information is believed to be accurate but not guaranteed and should be verified. TOP COMMERCIAL REALTOR in BC Northern REB

PRINCE GEORGE AND AREA

www.pgcommercial.ca

GEORGE WEINAND 250-960-9556 [email protected]

ROD 9444 Rock Island Rd. McLEOD • 6,000 sq ft Industrial Building on 1.26 Acres 250-961-3325 • Built in 2007. Zoned M-2 [email protected] • Fully fenced and graveled yard Contact us for more details THINK REAL ESTATE... The Best Investment on Earth Perfect Property for a Small Business ACCELERATE YOUR BUSINESS

6480 Airport Road #5, 8822 - 100th Street Zoned Light Industrial this 1 acre parcel offers a stand alone 1338 Attractive multi-tenanted building. Great exposure & access by sq ft. offi ce building w/fully fi nished concrete basement. Previously controlled traffi c lights to the Alaska Highway which makes for used as a residential home it has been extensively upgraded; optimum visual exposure for your business. This space consists fl ooring, bathrooms, paint, kitchen. Convert this to 5 offi ces, board of front reception & offi ce with rear bay measuring 25' x 40' with rm, break out area, & you have a great offi ce located on 1 acre of leveled, graded, graveled & fenced w/hitching rail located on the 1-14' overhead door, 2 pce bath & 17' x 25' mezzanine. Quick Airport Road close to major Energy Sector Companies. possession available. Adjoining unit #4 also available for lease. $580,000 - MLS# C8017485 $16.00/ sq. ft. + NNN - MLS# C8020815 Industrial Warehouse/Offi ce Space Location, Location, Location ...

8708 - 100th Street 8715 - 100 Ave 14,000 square foot industrial building located on 2.43 acres of No better time than now to invest in your own building. Prime city serviced land in a prime location easily accessible to the exposure on the Airport Road, this 14,000-plus sq ft offi ce/ Alaska Highway. Ideally set up for a wholesale supply business warehouse is situated on 2.6 acres plus. Secure yard, with loads but the possibilities are endless with the large warehouse/shop of outside storage. 18 offi ces, 2 boardrooms, plus breakout rooms. areas which also includes foreman offi ces built into the rear corner 33'x78' drive-through bay with 15'x15' overhead doors and a 10-ton of the main shop. Ample side and rear yard space provides crane. 4-bay shop with 14' overhead doors. City water and sewer. good access to the overhead doors. Property also available for lease - see C8020243. $19.00/sq. ft. + NNN - C8007641 $3,200,000 - MLS# C8020240 Prime Heavy Industrial Land DARE TO COMPARE!

9416 - 72 Street 10543 - 100 Street 3.632 of prime Heavy-Industrial land accessible by the East By-Pass Classy detached offi ce building offering high visibility, traffi c fl ow Road. Adjoining active rail line used by CN Rail, and buyer would and great parking. 2-storey offi ce building features a large reception have to make application to CN Rail to develop rail service. All city area, 2 designated offi ce with remaining open work stations. 2nd services at lot line, pavement, curb and gutter in place. Land is fl oor: 1663 sq ft separate apartment or large work-station area. cleared and leveled. Last opportunity in today's market for serviced Attached single-bay and detached double garage provide ample heavy-industrial land with adjoining rail line. Taxes to be assessed storage. This unique property allows for staff accommodations or (recently restructured land parcels). can be leased individually. Paved parking for approx. 17 vehicles. $1,050,000 - C8015755 $18.00/sq. ft. + NNN - C8020577 Kathy Miller Personal Real Estate Corporation RE/MAX Action Realty Inc. [email protected] 250-785-5520 Toll Free: 1-888-785-5520 B10 | ALBERTA WESTERNINVESTOR.COM | OCTOBER 2018 New luxury hotels define Alberta’s confidence FEATURE | It takes nerves to open grand hotels when the province’s occupancy rate is 52 per cent and revenue per room is down, but ribbons are being cut from the capital to Canmore

of the Alberta Hotel & Lodging By FRANK O’BRIEN Association. & GEOFF KIRBYSON For the first six months of 2018, [email protected] Red Deer hotels have been operating at 46 per cent occupancy lberta’s hotel industry is with an average room rate of just experiencing a 52 per cent $109. The national average, by Aoccupancy rate this year, comparison, is 63 per cent oc- compared with a 62 per cent aver- cupancy with room rates of $155. age across Western Canada, and In some markets during this past revenues are flat, but luxury hotels summer, occupancy has been as are underway or opening from the low as 25 per cent. capital city to Canmore. “One of our people stayed at a It’s been 28 years since the Ed- [Red Deer] hotel in August and he monton Oilers won the Stanley was the only guest in the whole Cup, but the owners of the city’s place,” Kaiser said. newest luxury hotel think a But a Rocky Mountain hotel de- close proximity to the NHL team veloper appears confident in the will lead to championship-like The 347-room JW Marriott is underway in Edmonton as the first luxury hotel in the city in 30 years. | MARRIOTT HOTELS future. success. Clique Hotels president Jim Muir The JW Marriott hotel is sched- booking conferences for more she said. sees Clique’s new Malcolm Hotel uled to welcome its first guests than a year and has confirmed Marriott, in fact, has two in Canmore as a recent pinnacle next March as the NHL playoffs major events well into 2019. more luxury hotels underway in of his 44 years in the hospitality get underway. “The demand is there, for sure,” Calgary. industry. “The amount of attention the Walton said. On top of the hotel’s Alberta’s average hotel revenue “The Malcolm is something very district will get and the arena al- 22 floors will be another 33 floors per available room (RevPAR), a key special,” Muir said. The four-star, ready gets is nothing but a benefit of condominiums, making it one industry metric, will struggle to 127-room luxury hotel will hold its to us,” said Steve Walton, director of the tallest buildings west of reach $69 this year, according to grand opening November 3 as the of sales and marketing for the JW Toronto. CBRE’s Hotel Outlook 2018.This first luxury hotel built in the resort Marriott in Edmonton’s down- While the JW is the newest hotel compares with a RevPAR of $83 community in 20 years. town entertainment district. in the central business district, it’s three years ago. The hotel will have 346 guest certainly not the only one drawing In Lloydminster, more than 300 Due to visitor demand for hotel rooms and 22,000 square feet of attention. The Hyatt Place opened hotel rooms were added with the space in the Alberta Rockies, the meeting space, and the crown last year with 210 rooms and just opening of three hotels a few years The dining room in the 127-room Malcolm held a soft opening this jewel will be its main ballroom – under 10,000 square feet of meet- ago. Almost immediately after Malcolm Hotel in Canmore, a summer. named after Oiler hockey legend ing space. the ribbon cuttings, however, the luxury boutique lodging that opens The new hotel has already Wayne Gretzky. At 10,500 square Karen Chalmers, executive dir- price of oil plunged and Lloyd- November 3. | CLIQUE HOTELS booked two dozen weddings and feet, it will be the largest of its kind ector of Edmonton Destination minster hit “rock bottom,” said a dozen large conferences through downtown. The hotel will also Marketing Hotels, said hotel space Katlin Ducherer, the city’s eco- 2014 downturn and there simply 2019, Muir said. have five restaurants and lounges, is up about 16 per cent over the last nomic development officer. hasn’t been enough business to go A Canmore resident, Muir is including a high-end steak house. few years. A similar situation happened around ever since. confident the Malcolm Hotel will It’s the first full-service four- “During the boom times from in Red Deer, Alberta’s third-lar- “Red Deer has been a depressed also become a Rocky Mountains star hotel in downtown Edmon- 2012 to 2013, it seemed like a great gest city. A number of new ho- hotel market for some time,” said landmark and a signal that Al- ton in 30 years. The JW has been time to build hotels in Alberta,” tels opened up just prior to the Dave Kaiser, president and CEO berta’s hotel industry is back.■

Grande Prairie, Alberta • HOTEL (FLAG): Room 50, Bar, VLTs, Restaurant (leased) ...... $3.99 mil. • GAS STATION Gas 2.3 mil. litre, 57 ROOM HOTEL WITH Convenience store $4.0 mil ...... $3.495 mil. • GAS STATION (Calgary) ...... $1.5 mil. • LIQUOR STORE (Bus.Only): Sale $1.0 mil, MAJOR FRANCHISE Margin 23%, Rent $1,500/m...... $238,000 • 10,000 sq. ft. • HOTEL (FLAG): Room 70, Sale $1.3-1.6 mil, RESTAURANT & LOUNGE • High Traffic Corridor Population 60K ...... $5.45 mil. • 90’x280’ Lot • GAS STATION (Wainwright) ...... $1.15 mil. • $20,000.00 rental income • HOTEL: Room 9+Liquor $560k+Bar $210k+VLT Located in a thriving City in SE Alberta. • Zoned CA $50K+Leased restaurant $30k ...... $990,000 $1,900,000 • STRIP MALL (5 BAY) Rent Income $83,000 .. $950,000 Excellent visibility & access from major artery. Terry Sandboe, Associate Thomas Koh (CIR) Tons of parking. Good income stream. 780-518-1964 [email protected] 403-680-9827 All Peace Realty Ltd. Beaverlodge, Alberta [email protected] ASKING PRICE FOR LAND, BLDG & Your North East B.C. Connection BOTH BUSINESSES IS $2,595,000! Farmland from 160 to 6,000 acres, great investments, some of the best large scale farms in B.C. Recreational properties, scenic get away places, river front, lakefront, wildlife Contact Gord Hyland Outﬁ tter Guiding Territories, tourism businesses Calgary’s Restaurant Realtor® Equestrian ranch with custom log house and 1 mile of lakefront MaxWell South Star Realty Investment – development - commercial properties For more information HorstMindermann.com Cell: 403-703-7827 Horst Mindermann RE/MAX Dawson Creek Realty 10224 10st Dawson Creek, BC Email: [email protected] 250-467-3019 RE/MAX Grande Prairie [email protected] 10114 100 St, Grande Prairie, AB www.restaurants4sale.ca Licensed in B.C. and Alberta OCTOBER 2018 | WESTERNINVESTOR.COM ALBERTA | B11

CUSHMAN & WAKEFIELD CALGARY, AB SALE OPPORTUNITIES 2018

7.2% CAP RATE

SELF-STORAGE PORTFOLIO 3348 58th AVENUE SE, CALGARY, AB 8825 SHEPARD ROAD SE, CALGARY, AB STRATHMORE, BROOKS, OLDS, AB Fully leased 25,335 SF single tenant industrial FOR SALE / LEASE. 99,957 SF industrial building Opportunity to purchase portfolio of two recently building on a 2 acre site. New 10 year lease as of on 12.52 acres part of the proposed South Hill constructed self-storage facilities and 4.07 acres of December 1, 2017 with rental escalation. Asking Station Area Plan. Situated close to Glenmore Trail, development land. Price: $3,895,000. Barlow Trail and Deerfoot Trail.

8,000 SF SOLD REMAINING CONDITIONALLY

2620 21st STREET NE, CALGARY, AB 211 13th AVENUE SE, CALGARY, AB 806 10th STREET NW, CALGARY, AB

28,215 SF single tenant light manufacturing build- One bay retail space; Alura bay - 8,000 SF. Beltline Apartment building, on a 16,470 SF site zoned ing, excellent location, close proximity to downtown area with mixed-use development. 508 residential M-C2. Located in the highly desirable Sunnyside and Calgary International Airport. units and excellent exposure to high traffic volumes district. Close proximity to Kensington, the CBD, on Macleod Trail. Riley Park, C-Train, and various other amenities.

VARIOUS DEVELOPMENT SITES AVAILABLE FOR PURCHASE:

• 527 acres in central Springbank, AB. • Approximately 1.6 acres (site to be subdivided) of multifamily development land in Royal Oak, Calgary, AB. • ± 81.59 acres of residential development land in Greenhaven Estates, Foothills, AB. • ± 3.32 acres multi-family, fully serviced development site in south central Airdrie, AB. 340 RAILWAY STREET W, COCHRANE, AB 717 & 757 57th AVENUE NE, CALGARY, AB • 1.51 acre potential multi-family development site in Beddington Heights, Calgary, AB (con- Freestanding building on 2.08 acres in downtown Freestanding building and adjacent development ditionally sold). Cochrane. Adjacent to The Quarry Power Centre land on 0.63 and ± 1.55 acres (respectively) in Deer- which includes total of 467,000 square feet of retail foot Business Centre. Adjacent to the Deerfoot City development. For sale or lease. re-development.

1026 WESTERN DRIVE, CROSSFIELD, AB

10-YEAR LEASE 21.11 fully leased single tenant industrial site. Located within close proximity to Highway 2A and High Load Corridor. 10-year lease in place with MaXﬁeld Group Inc. as of January 2018. Property use is manufacturing. 7 buildings and structures with a total building area

of ± 126,000 SF. Zoned 1-3 (Heavy Industrial District).

Marc Rosso Tom Charlton Scott Stoddart Brad Kroeker Vice President Vice President Associate Vice President Associate Capital Markets Group Capital Markets Group Capital Markets Group Capital Markets Group CALGARY +1 403 261 1127 +1 403 261 1117 +1 403 261 1163 +1 403 261 1170 Suncor Energy Centre [email protected] [email protected] [email protected] [email protected] 111 - 5th Avenue SW, Suite 1730 cushmanwakefield.ca cushmanwakefield.ca cushmanwakefield.ca cushmanwakefield.ca Calgary, AB T2P 3Y6 main +1 403 261 1111 cushmanwakefield.com 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 2018 B12 | ALBERTA WESTERNINVESTOR.COM | OCTOBER 2018 Alberta in mix as Canada’s CRE investments hit record COVER | Canadian commercial real estate investment reached new heights in the first half as sale values topped $26 billion

performers were the office, in- year. Another $166 million worth By WI STAFF dustrial and commercial-indus- of commercial and industrial land [email protected] trial land sectors, which together sold in the quarter, a 79 per cent captured 66 per cent of all the increase from the second quarter investment dollars in the quarter. of last year. Calgary office tower play In total 71 per cent of all the deals Edmonton is also attracting in- and record-snapping were completed by Canadian pri- vestors, with 223 commercial or transactions in the city A vate investors. industrial properties sold in the helped push Canadian commer- Calgary’s office sector recorded second quarter for $1.2 billion, cial real estate investments to an 15 transactions worth a total of a 100 per cent increase from the all-time high of $26.8 billion in $306 million, of which the First same period a year earlier, Altus the first half of 2018. Tower deal was the largest. Also said. It also notched Calgary into boosting the total for the quarter The Canadian sales record this third place for commercial real was Slate Asset Management’s year is led by two mega-mergers estate sales in Canada, behind purchase of the Scotia Centre for and acquisition deals closing in Toronto and Vancouver. $95.1 million. the second quarter. These were In the second quarter, $16.5 “The record number of trans- including Choice Properties’ billion of transactions were re- actions this quarter demonstrates acquisition of Canadian Real corded across the country, up 38 sustained interest in the Calgary Estate Investment Trust to form per cent from the previous record market. It should be noted that Canada’s biggest real estate in- total of $11.97 billion in the first the main source of this interest vestment trust; and Blackstone’s quarter of 2017, and more than is from private investors, who purchase of Vancouver-based double the five-year quarterly are capitalizing on a marketplace Pure Industrial Real Estate Trust. average. that has less competition from These two deals combined repre- Calgary set an all-time record in the second quarter as 153 commercial “This brings the first half institutional investors,” noted sented 45 per cent of the quarter’s real estate deals worth more than $1 billion closed in the three-month of 2018 investment volume in Ben Tatterton, manager, data investment volume in Canada. period. | CONCERT PROPERTIES Canada to an all-time high for a solutions, at Altus Group. Toronto and Vancouver re- half-year period,” reports CBRE The office transactions are main the primary destinations Canada. indicative of the faith investors downtown Calgary and is also We believe in ,and are for commercial real estate in- Major single-asset deals pro- have in Calgary. The Class B First building mixed-use projects in committed to, the city vestment. In the second quar- pelled the action, including the Tower, for example, was nearly 50 the city. ter, Toronto accounted for over $107 million sale of Calgary’s per cent vacant when it sold. The Calgary’s retail sector recorded of Calgary a third of all transactions, at 27-storey First Tower office new U.S. owners plan to upgrade $149 million in investment in the $5.7 billion. This is the highest building to Hines and Oaktree the tower to Class A space in a city second quarter, up 85 per cent SYL APPS, quarterly investment volume on Capital Management, both based with the highest office vacancy from the same period a year ear- MANAGING DIRECTOR, record for Toronto. Compared in the United States. rate in the country, at 26 per cent. lier. The number of retail prop- HINES with the five-year average, To- That April sale was characteris- “We believe in, and are com- erty sales was the highest ever ronto investments went up 82 tic in Calgary, which saw record mitted to, the city of Calgary with recorded for a single quarter, per cent. Vancouver came in commercial property trans- First Tower being our second of- Altus reports. second at more than $3.2 billion actions in the second quarter. In fice acquisition during the recent The second quarter also saw 36 in transactions, an increase of 91 all, 153 deals worth more than $1 energy downturn,” said Hines property sales worth $194 million per cent compared with the five- billion in sales volume closed in managing director Syl Apps. Two in Calgary’s industrial sector. year average. Calgary, Montreal the three-month period. years ago, Hines snapped up an This represents a 48 per cent in- and Edmonton rounded out the The top three Calgary eight-storey office building in crease from the same quarter last ” top five investment cities. ■

FOR SALE

WELL ESTABLISHED 35 BED, LEVEL 1-4 PERSONAL PRICE REDUCED!! CARE HOME 34 TOWNHOMES – FULLY RENOVATED * Assumable Financing CENTRAL SASKATCHEWAN * 14.6% ROI 6.1 CAP * Sale Price $7,200,000 Nick Turanich Rick Goebel Turanich Aquisitions Management Inc. 780-995-7468 306-591-6666 [email protected] [email protected] www.rickgoebel.ca

MULTI-FAMILY DEVELOPMENT SITE EMERALD HILLS, SHERWOOD PARK, AB ADVERTISE WHERE INVESTORS ARE LOOKING

* Multi-Family 3.29 Acres Site Subject * Approved Development Permit for 285 Luxury Condos * DC Zoning, May be applicable for Sustainable housing Adult Living * Adjacent retail necessities, allservices, High School and CommunityHospital * Sale Price: $6,500,000 * For more info contact: [email protected]

604.669.8500 TOLL FREE 1.800.661.6988 WESTERNINVESTOR.COM OCTOBER 2018 | WESTERNINVESTOR.COM ALBERTA | B13

RARE OPPORTUNITY TO OWN AN INDUSTRIAL CONDOMINIUM IN THE HEART OF SOUTH CENTRAL CALGARY 5716 – 5740 Burbank Crescent SE and 5715 – 5737 Burbank Road SE, Calgary, AB COREbusinesspark.ca

50% UNDER CONTRACT - CONSTRUCTION IS UNDERWAY District Burns Industrial Park Unit Sizes 4,640 SF up to 18,528 SF Ceiling Height 18’ clear Loading Dock and drive-in doors Zoning I-G (Industrial General)

Made of concrete and steel, CORE Business Park is built to last. It also includes features and updates designed for modern businesses:

• Tailored unit demise • Large marshalling area/loading court • Code upgrades • Outside yard storage opportunities • All new exterior doors and windows • Rich landscaping • Exterior lighting upgrades • Individualized entry portals • Architecturally updated façade • Generous signage opportunities

Sean Ferguson Marc Rosso Alan Farley Associate Vice President Vice President Associate 403 261 1114 403 261 1127 403 261 1144 [email protected] [email protected] [email protected] Cushman & Wakeﬁeld ULC No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals.

DEVELOPMENT LAND JUDICIAL SALE OF COUNTRY NISKU INVESTMENT RETAIL INVESTMENT FORT MCMURRAY OPPORTUNITY RESIDENTIAL DEVELOPMENT

• Approved DP Permit for 32 townhouse units and • 5.6 acres approved for 58 lots • Leased to Triple A International Covenant • Jasper Avenue downtown Edmonton location • New ﬁve year leases at market rates 5,436 sf commercial building on 1.71 acres • Located in Sturgeon County in close proximity to • 58,000 sf on 3.53 acres • Fully leased / long term leases • 16,880 sf on 1.31 acres • Sale Price: $2,400,000 St. Albert and Edmonton • ±7% cap rate on 2007 built facility • Sale Price: $5,210,000 • Sale Price: $3,800,000 (9.93% cap rate) [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] 5.71 ACRES COUNTRY RESIDENTIAL TRADER RIDGE GRANDE PRAIRIE RETAIL SHOPPING CENTRE OWNER/USER OR PRIME DEVELOPMENT LAND DEVELOPMENT LAND FOR SALE/LEASE/BUILD TO SUIT GRANDE PRAIRIE REDEVELOPMENT PROJECT

• Located in mature area of Fort Saskatchewan • 350 acres in Sturgeon County • ±142 acres of grocery anchored retail land • 88,678 sf shopping mall located in downtown • Exceptional exposure • DC Zoning (Mixed Use-Residential/Commercial) • 74 acres in Leduc County • Auto Mall/Retail/Industrial development Grande Prairie • 7,016 sf building (38% site coverage) • Easy access to major arterial roadways • Country Residential development potential • Located on NW corner of 100 St & 132 Ave • Great tenant mix - Retail, Gov’t Services & Medical • 18,461 sf site area • Fully serviced; Reduced: $575,000/acre • Sale Price: $11,950,000 (7.6% cap rate) • Sale Price: $1,500,000 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] BRANDON [email protected] SPORTSDOME COMPLEX EXCLUSIVE LISTING RETAIL DEVELOPMENT LAND HIGH EXPOSURE RETAIL/ FORMER SUPER A FOODS INVESTMENT OPPORTUNITY WAREHOUSE BUILDING FAIRVIEW

• Fully leased recreation and restaurant/banquet • 4 - 7-Eleven locations available • 0.37 acres in downtown Grande Prairie • 19,080 sf building on 1.01 acres • 17,696 sf building on 2.24 acres facility in a great location • Land and building • Prime corner location • Zoned IB • Zoned C-1A - Transitional Commercial District • Sale Price: $6,000,000 (6.6% cap rate) • Long term leases in place • Sale Price: $798,000 • Sale Price: $3,489,000 • Sale Price: $895,000 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] MULTI FAMILY EXCELLENT FRANCHISE MOTEL PLUS RV PARK 36 UNIT CONDO BUILDING FORMER LAC LA BICHE OPPORTUNITIES OPPORTUNITIES FORD BUILDING • 6 units; east Edmonton; larger units; well • OPA, Westgate -$219,000 maintained • Memphis Blues BBQ, N. Edmonton -$275,000 • 6 units; central Edmonton, Jasper Avenue; three 1-bdms, three 2-bdms • Good Earth, Downtown Edmonton -$195,000

• 6 units currently vacant; 3,800 sf lot; zoned RF6 • Good Earth, St. Albert -$230,000

• 2.13 acres Cold Lake zoned R4 for up to 82 units • Urbano Pizza, Downtown Edmonton -$99,000 behind Tri-City Mall; Sale Price: $800,000 • Cora’s Breakfast & Lunch, Leduc -$650,000 • 23,222 sf Cold Lake zoned R3 for up to 8 units • Tony Roma’s, Bonnie Doon (Assets Only) behind new Elementary School; Sale Price: • Multi-tenant residential property and • 36 unit block of apartments; fully renovated • 29,564 sf building on 3.78 acres $328,000 -$125,000 RV/Trailer Park • 6+% cap rate; Located in downtown Edmonton • Judicial sale; zoned HC - Highway Commercial • Sale Price: $1,250,000 • Sale Price: $5,760,000 • Sale Price: $5,250,000 • Many more franchise opportunities available [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] 780 420 1177 / cwedm.com Cushman & Wakefield Edmonton is independently owned and operated / A Member of the Cushman & Wakefield Alliance. Cushman & Wakefield Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. B14 | ALBERTA WESTERNINVESTOR.COM | OCTOBER 2018 OCTOBER 2018 | WESTERNINVESTOR.COM ALBERTA | B15 B16 | ALBERTA WESTERNINVESTOR.COM | OCTOBER 2018 Goodwill demystified: factoring in an intangible asset

f there is one common denominator BUYIN G Business element Personal goodwill Commercial goodwill that affects a business transaction of A BUSINESS a small to medium-sized enterprise it I Client base Customers do business Clients do business as is the factor of goodwill. due to personal relation- based on location, or The expectations of both the owner ship with the owner company-specific factors (seller) and the buyer of that business will battle their test of wills around how to Brand Often business name is Management or owner- qualify the value of goodwill, define busi- that of the owner; focus ship is not the focus; ness transition and more. is on his or her reputation, whereas the collective The accepted financial or accounting skills and experience entity/offering is definition of goodwill is the ability of a business enterprise to earn a rate of re- Operations management Business largely reli- Business realizes per- turn on net assets (owner’s investment) ant on owner for income formance from the collect- in excess of a normal rate for the industry generation ive whole and capacity in which the business enterprise operates. of income earned would In other words, goodwill is the difference By ARTHUR KLEIN not disappear if owner- (or premium) between the value of a busi- ship left ness enterprise as a whole, and the sum of the current fair values of its identifiable Nor can goodwill be separated from the Material agreements S er vice, supply and Key supply or sales agree- tangible and intangible net assets. company or business. Examples of typical pricing terms often left ments are structured be- Think of it like this: You buy a busi- intangible assets include patents, trade- to a handshake between tween parties and are ness for $1 million. The fair value of all marks or contracts. So the rationalizing customer and owner fulfilled and respected in the equipment, inventory and intangible of a goodwill premium by the seller and absence of ownership assets, is $240,000. The remaining differ- the buyer requires careful consideration ence is considered to be goodwill, in this and analysis. case $760,000. Since there may be a variety of reasons the intangible value of a company be- ■Cost approach – based on estimating the Given that intangible assets represent the why this goodwill exists, it is considered tween personal and enterprise goodwill costs of constructing or acquiring a new excess market value of a business, beyond to be an “unidentifiable intangible asset.” is becoming increasingly relevant and is intangible asset that is of more or less the the value of its tangible assets, goodwill Goodwill is a capital expenditure as op- constantly tested. So let’s revisit some same use as the existing one. (an intangible asset itself) is one that can- posed to a current operating expense. business valuation fundamentals. Types of business goodwill: not be traced to an identifiable source. In business valuation, segregating Valuing intangible assets: Intangible For the purposes of small and medium- assets often form the basis of a business’ sized enterprise valuation, sellers and competitive advantage. Their value can be buyers need to understand two key CURRENT OFFERINGS INVESTMENTS hard to determine, but a business (owner) types of business goodwill: personal and • A relatively new 74 Room Limited Service Hotel, should always consider doing so. Unlike commercial. located in a very busy area that that keeps it tangible assets (such as machinery and For demonstration purposes, the fol- constantly running 100% occupancy at a signifi cant CALGARY AREA equipment), which often depreciate over lowing chart demonstrates the premium ADR, thereby delivering substantial continuous time, the value of intangible assets (i.e. or risk associated with goodwill, and ul- high revenues. It is relatively new; as such, there • OLDS - Hotel Site/multi-family site/ commercial site available in fast growing business’ brand, product formulas, em- timately the value of the business. are no required up-grade in the near term. Further, ployees’ skills and knowledge) often in- De-risking goodwill: In understanding it is being offered at the very reasonable price of community $14,000,000.00 creases over time. However, accountancy the marked difference between personal • OLDS – 20 acres development site - rules don’t allow for such an increase in and commercial goodwill, business owners • A Flagged New 139 Room Full Service Hotel, highway frontage value to be included in the balance sheet. (sellers) are in the position to best manage featuring practically all of the latest features the That is why it is important to seek profes- their destiny by undertaking measures to industry has to offer; thereby rendering a very • OLDS - 2900 sqft retail space for lease – effi cient and economic operation. It is well located high traffi c area sional advice about valuing your intangible convert personal to commercial goodwill. assets. And often one of the most critical mistakes in a very dynamic region of substantial sustainable • SUNDRE - 300 acres with river running economic growth going forward. The operation of Many intangible assets can’t be valued as or shortcomings is that business owners this outstanding Hotel has a tremendous up-side, through, gravel, highway access, potential they don’t meet the tests that accountants underestimate the capability of their em- going forward. Additional information is obtainable development opportunity set. It may however still be important to ployees. ■ by contacting the undersigned Asking $35.9 million • SUNDRE - 1.67 acres multi family site in communicate some attributes about the • Strata Apartment and Towne House complexes growing community value of intangible assets. There are advis- Arthur Klein is a merger and acquisition Plus Retail Units: A Superb Multi-Family • SUNDRE – 118 X 120 commercial lot - great ers, such as business valuators, available adviser with Vancouver-based Pacific M&A development consisting of 71 apartment Units – 62 location to help businesses to do this. Business Brokers Ltd. He can be reached at 2- bedrooms, 9 – 1- bedrooms; 13 – 3 bedrooms 2 Three main methods of valuing 778-329-9558, or through www.pmabb.com. storey Towne Houses, 3 Retail spaces, plus 46 rental • BOWDEN - 31 acres industrial & commercial intangible assets are: Garages. All Apartment units and Townhouses are air development land adjacent to Highway 2 ■Income approach – assumes that the conditioned. The revenues of this development are value of an asset is the present value of Editor’s Note: A column in the September indeed, outstanding and features 100% occupancy, • BOWDEN - 54 acres residential development currently. Asking $13,900,000.00 land ready to go - Highway 2 frontage future earnings from the asset. 2018 issue of Western Investor “Financing ■Market approach – based on market evi- A Business Buy” was attributed to Arthur • A Flagged 124 Unit Limited Service Hotel featuring • CROSSFIELD - shop witht truck wash equipment - 3200 sq.ft. - 3 bays dence of what third parties have paid for Klein in error. Western Investor regrets a wide variety of amenities such as conference/ comparable intangible assets, - though in this mistake and any embarrassment it meeting rooms, business center, fi tness center, • CROSSFIELD - 279 acres - great development practice, this method is difficult to apply. may have caused. indoor swimming pool/hot tub, guest laundry among possibilities-rail spur possible other features and amenities, superb location, excellent continuous operating performances, a very • CROSSFIELD - 137 acres with #2 highway good potential up-side, Asking $19,500,000.00 frontage - excellent access • Flagged 93 Suite Hotel in a very substantially • CARSTAIRS - 2.2 acres, 3 buildings, great The rationalizing of a goodwill premium by the seller and the economically dynamic community, which has a retail site buyer of a business requires careful consideration location that renders superb exposure that among other things, attest to its constant year over year • 4160 sq.ft. Industrial space 1.5 acres - revenue growth. It is currently being offered at a 2 titles price that should allow it, under continued prudent • Over 40,000 sq.ft. industrial space 6.77 acres management continue it stellar performances, going forward. Asking $15.5 million. • 4000 sq.ft. condo building retail/offi ce • A Flagged 92 Room Limited Service Hotel, featuring • Extreme Pita restaurant available in a variety of room confi gurations among many other outstanding features, plus, exceptional operational growing community performances that are enhanced by its excellent WESTERNINVESTOR.COM location. The potential upside for continued superb For more information on these and other properties performances going forward are very good, under Get informed before you invest prudent management. Asking Price $10,500,000.00 CALL DON SACKETT • Exclusive details on VINCE BOYLES RE/MAX ACA REALTY 1018 Hammond Ave, Crossfield, AB Western Canada’s Done Deals T0M 0S0 Fax 403-946-5035 403-237-5584 • 1-888-482-5583 • Get the inside scoop with ACA Realty (403) 946-5657 EMAIL: [email protected] expanded coverage of MONTCALM PROPERTIES LTD. [email protected] sold properties www. montcalmpl.com www.donsackett.com OCTOBER 2018 | WESTERNINVESTOR.COM ALBERTA | B17

HIGH LEVEL ALBERTA OPPORTUNITIES The Town Centre Mall Investment Grade Property

8% CAP Motel 34 Rooms, Restaurant, Town W/Rebound from Coal Motor Inn Bar w/VLTs, Mini Liquor Store, 80 Seats Restaurant and 28 Mine Industry, Workers, Tourists, 4,000 People, Hi-way exposures. Room, 120 Seats Conference Hotel, 3.5 Acres, Major Hi-way Junction, • Fully leased / well maintained shop- • Very good income w/ local Post Ofﬁ ce / C-Alberta Price $1.5M Viking, AB Price $1.8M ping mall long term retail space & ofﬁ ces • Great mix of tenants – lots of onsite • 2 storey 32,000 sq. ft commercial building parking • New roof in the last year - • Superior investment returns no deferred maintenance $1,990,000 $3,500,000 Dale Williams Margaret Carroll 780-832-5555 | Mobile 780-926-1507 | Mobile [email protected] [email protected] Royal LePage - The Realty Group

Bowling Alley Business w/Neighbourhood Pub, 3 Rental Units, 3 Bed Motel 87 Units + Restaurant, Non-Franchise, City of 50,000 Population, Room 3rd Floor and 24 Bowling Lanes, 3 Story 40,000 Sqf Building. 15% NOI, Cash Need 35% w/ Financing, 2 Story on Big Lot. YOUR ADVANTAGE IN ALBERTA Chilliwack, BC Price $2.8M Brandon, MB Price $4.4M HILTON FRANCHISE HOTEL IN BIG CITY ASKING: $16,700,000. Revenue (2016 : $4,098,000, 2017 : $3,552,000), 2018 revenue will be more than 2016 based on July 31 record. 102 room,1.99 Acres which was built in 2014 located very stable big city in SK. 2018 revenue is going up. RV PARK, STORAGE AND LEASED GAS STATION & LIQUOR STORE Asking: $16,300,000. Revenue (RV Park: $1,383,723, Rental income: $317,340). NOI: $1,340,784, Fully service 121 RV PAD, 444 RV Storage, 94 Cold storage, Two single family house for owner and staffs and 29.8 ACRES land located. Close to Calgary, Banff and Kananaskis. BEST WESTERN PLUS HOTEL IN AB BIG CITY ASKING :$10,500,000. REVENUE (2014: $3,335,716, 2015: FFOROR SSALEALE - Motor 43 Guest Room and Owners Suit, Revenues Motel All 47 Units Renovated + Leasable Restaurant, City in Gas and $2,668,155, 2016: $2,142,284, 2017: $2,310,915.99). 92 Room, Support Financing and a family, Absentee Owner. Oil Patch Region, Business Busy Year Round, Approved Financing. 1.97 Acres High End franchise hotel which was built in 2004 and has Downton Prince George, BC Price $1.6M Central Alberta Price $4.2M been renovated to meet Franchise standard. SSpencerpencer CreekCreek MOTEL IN SK Asking: $8,500,000. Revenue (2016: $1,919,710, 2017: $1,883,385) 130 room as Two hotel package (each 65 room, 7 Acres /2 acres) RRanchanch which was built in 2014 located in the southeastern portion of the province of Saskatchewan. FRANCHISE MOTEL IN CALGARY 935 acres nestled close to the Rocky HINTON Asking: $7,750,000. Revenue (2016: $1,401,201). Three stories 68 Mountains 1 hour west of Calgary on a paved guest room originally constructed in 1980 with signifi cant renovation in 2012 totaling $2.1M and additional $700,000 for exterior Hwy. Fronting onto the Bow River, one of renovations in 2015. The physical characteristics of the hotel are in western Canada’s best trout fi shing Rivers. very good due to the recent whole renovations to the interior and exterior. Well located in the NW district, which provides good access Fabulous views, small lake with 100’s of Motel 2 bed suite + 47 Guest Unit, Renovated done Motel 60 Room, Con Laundry, Restaurant. Close by to major commuter arterials, and access west to tourist destination nesting birds & a stopover for migration. Large due to highly demanded full Occupancies, long term Shopping District, Business w/ Recovering Normal Level. to Banff etc. gravel deposit on the property. Giant Projects coming, top $ ADR Price $4.5M Grande Prairie, Alberta Price $3.5M MOTEL IN SK Asking: $6,500,000. Priced Reduced to Sell $7,750,000 Revenue (2015: $1,644,927, 2016: $993,376, 2017: $1,454,409) River quarter can be purchased separately 65 room, 2 Acres which was built in 2013 located in the heart of South Eastern Saskatchewan's Oil Country. Price $2,850,000 FRANCHISE HOTEL IN BC Asking: $6,100,000, 2017 : $1,596,672. - 90 guest room hotel which was renovated in 2015 with $2.1 million being invested in the property with 1.975 Acres land. - Two (2,500 Sqft & 3,800Sqft) vacant space presenting leasing opportunity and 5,000Sqft conference centre that is not currently in GGordonordon LackeyLackey use located in SE BC FRANCHISE HOTEL IN MB RReMaxeMax RealReal EstateEstate Golf Course 18 Hole Course, Driving Range, Club house w/100Acres Motel Business With Only Rooms w/Non-Franchise, Asking: $6,100,000. Revenue (2017: $1,516,136.54, 2016: ((MountainMountain View)View) +100 Acres w/ Resorts Develop Zoning, Open 6 Month Net 9%Cap. Revenues Projects $1.5m, Centre Of City, 96 Rooms, 2 Acres. $1,309,165). 58 room franchise hotel with 3.4 Acres land located Central BC Price $3.5M Grande Prairie, Alberta Price $5.5m East of Winnipeg with 12,996 population. Current big two plant project will bring more client to this hotel. 4403-932-541903-932-5419 oorr GREAT FANCY HOTEL WITH RESTAURANT IN SK [email protected]@telus.net Asking: $5,100,000. Revenue: $1,291,663 (2017 Room: $800,859, Restaurant: $490,804) 65 room which was built in 2015 at 2 Acres land. FRANCHISE HOTEL BIG CITY AB Asking: $4,900,000. Revenue (2017) :$1,319,731, NOI: $478,562 58 Room limit service hotel with swimming pool, Hot Tub. Located LETHBRIDGE the commercial, fi nancial, transportation and industrial centre of southern Alberta. INVESTMENT GOOD CASH FLOW MOTEL IN SK (NEW) Asking: $4,900,000. Revenue (20176 : $1,432,204, 2018 : Franchise 80+ Unit w/100% Renovations with Hi-Qualities, Motel 50 Luxury Guests Units + Restaurant, 11 Years, High $1,560,904), NOI: $566,903. Good cash fl ow 1 Storey 50 guest OPPORTUNITY On Busy Major Highway, Big City Central BC, Excellent Volume Sales W/Lower Overheads, Thriving Gas and Oil Town. room, conference room and 2 bed room manager suite with 1.62 Returns w/Lower Expenses, Price Set 4X Yr. Revenues $6.5M C-Alberta Price $7.5M Acres. Located at central area of province and the local economy is heavily infl uenced by the agricultural, mining and oil fi eld industries. FULL SERVICE HOTEL IN AB Asking: $4,400,000. Revenue 2017 (Room: $867,678, John C Nam Vincent Huang Food: $818,737, VLT: $130,597, Others: $169,678), NOI: $537,598 62 room full service motel with 2.84 Acres. Located in very busy town. Direct: (604) 805-9131 Direct: (778)-551-5558 HOTEL IN MB Asking: $3,500,000. [email protected] [email protected] Revenue (2015: $1,169,579, 2016: $932,266, 2017: $800,859) A luxurious 65 room hotel which was built in 2015 with 2 Acres land, nestled in the Southwestern corner of Manitoba, boasting extra large RE/MAX CITY REALTY suites with full kitchens. It's the perfect getaway for 2 or for long- (O) 604-439-2266 term accommodation needs. 2808 Kingsway, Vancouver, BC. CITY REALTY CAR WASH NEAR CALGARY Investment opportunity in *NEW* ASKING: $6.7M. Revenue: $1,308,460, NOI: $745,000 Well equipped and very profi table 2 auto bay which was replaced in 190 bed, 80 unit housing complex 2015 October with high-end equipment & 8 van type car wash. in South Lethbridge. GAS STATION, C STORE AND LEASED STARBUCKS COFFEE SHOP IN BC Asking: $7,450,000. Revenue: $6,038,833, NOI: $748,018 Project is located 500 yards from 2 Years old Gas station, C Store and leased Starbucks coffee shop plus space for fast food located very busy resort area on Trans Lethbridge Community College - ADVERTISE WHERE Canada Hwy. a 5000 student campus. INVESTORS ARE LOOKING BOTTLE DEPOT IN SOUTHERN AB Asking : $1,790,000. Revenue : $1,030,537, Gross margin : $304,646 New construction to be completed Easy operation and well established bottle depot business in this town with 4,600 Sqft building and 0.65 Acres land. by June 30, 2019! USA to be completed by suitable partners. For more information call: 403-308-3308 Francis Lee ® Cell 403.680.6130 Colin Harms, REALTOR Fax 403.476.5334 604.669.8500 TOLL FREE 1.800.661.6988 [email protected] WESTERNINVESTOR.COM Maxwell Canyon Creek Realty Associate Broker, IC&I Full Commercial Member [email protected] B18 | SASKATCHEWAN WESTERNINVESTOR.COM | OCTOBER 2018

Sask. & Man. | WHAT’S HAPPENING De Luca’s celebrates 50th with expansion into second location the new five-storey building used exclusively for manufac- Co-op consolidates will also have more on-site turing since he got the keys. parking for staff. Until this year. in Regina Regina is one of rhe Co- Slater has just cut the ribbon operators’ biggest sites in the on a 250-square-foot space country and there is room for in the renovated building. growth as other suites in the It will be used to sell K9’s new complex come off lease goods locally. The company during its term, Fitzgerald has been in business for 20 The Co-operators Life In- said. years and markets its prod- surance Co. in Regina is re- ucts to police, military, spe- locating its life insurance cial forces, search and rescue operations within the city’s Old ice-blasted and ambulance rescue or- downtown from 150,000 ganizations in more than 30 square feet on College Avenue into new space countries. to 120,000 square feet in the “We decided to let Winni- Sherwood Place building on peg know what we’re about,” Albert Street. he said. The plan is to have all em- Slater had an ice-blasting De Luca’s Specialty Foods has opened a second Winnipeg location as it ployees into the new space system remove old paint, celebrates 50 years in business. | DE LUCA’S SPECIALTY FOODS by early 2020, while the old debris and loose paint on the one goes dark until the lease bricks and “about 80 layers of f the turnout for the grand open- company’s wholesale division, said is up three years later. There paint” on the tin front of the ing was any indication, the ex- the first pressure point that con- will be some overlap where building. Ipansion of De Luca’s Specialty vinced the family it was time to ex- the company is operating out The process involves firing Foods should be a resounding pand was its bulging-at-the-seams of both buildings at the same pellets of dry ice that ex- success. 30,000-square-foot warehouse on time. High-powered blasts of ice pand to 700 times their size The family-run and owned busi- McPhillips Street, just northwest of “This wasn’t a cost-sav- pellets are helping to trans- and turn from solid to gas ness will celebrate its 50th anniver- downtown. ing initiative,” said Shawn form a 114-year-old industrial when they hit the building, sary next year on Portage Avenue Combined with a growing number Fitzgerald, the company’s building into 21st-century all without damaging the near downtown but it’s hoping its of customers on Portage Avenue vice-president of enterprise space in Winnipeg’s historic surface. next half-century will be even bet- who were coming from south Win- procurement and workplace Exchange District. The most recent exterior ter, thanks to a multimillion-dollar nipeg, they quickly decided to go services. “We decided to The desire to open up his work cost about $20,000, expansion in the city’s south end. closer to where the business was. make the move earlier [than own retail outlet convinced bringing the building’s total Several hundred people sam- “It’s a little off the beaten path but we had to]. It was the right Jim Slater to finish up the renovation costs to more than pled a variety of foods, including it’s on the south side of the city. It thing to do for our staff to renovation of the Exchange $250,000. meatballs, pizza and cheese and allowed us to have a retail compon- provide an updated modern District building he owns in The building was an empty sparkling wine at the late-August ent and a warehouse and gave us facility.” downtown Winnipeg. shell when K9 moved in and grand opening. They milled around the size we needed to showcase our Indeed, even though the new The owner of K9 Storm, a had a lot of water damage, aisles and shelves filled with a wide coffee machines,” he said. space is 20 per cent smaller, manufacturer of bulletproof requiring the replacement of variety of Mediterranean foods De Luca’s is just down the street Co-operators plans to make vests for police dogs as well beams and the roof. and sauces and sipped on coffee, from one of the busiest power re- more efficient use of it with a as more traditional but high- The transformation was so lots and lots of coffee. The new tail centres in Winnipeg, which more open concept, featuring end equipment, such as dog remarkable that people in the 42,000-square-foot location just features Costco, Canadian Tire, smaller private offices as well harnesses and leashes, bought neighbourhood started to no- west of Whyte Ridge, one of Win- Sobeys, Safeway, Walmart and doz- as more collaborative stations 168 Bannatyne Avenue a dec- tice the building. nipeg’s newest and most afflu- ens of other storefronts. and a cafeteria. ade ago. “It used to look a little bit ent neighbourhoods, not only has The family also owns an adjacent “We’re going to be focus- The four-storey, 3,800 vacant. Now people know a coffee bar, but also sells coffee 1.5-acre lot that could be put to use ing on a wellness-based en- square-foot building was we’re moving in,” he said.■ machines. for future expansion.■ vironment,” he said, noting built in 1904 and has been – Geoff Kirbyson Marco De Luca, who heads up the – Geoff Kirbyson

INVESTMENT OPPORTUNITIES LOOKING FOR SELLERS - Brand new duplexes and multifamily/commercial. - We have all kinds of Commercial Buyers - CASH/QUICK CLOSING - Inﬁ ll locations and new subdivisions. LAND FOR SALE (Regina & Surrounding) Connecting agents - Commercial/Industrial properties with long term Tenants. - MAC ZONING - Land development. - INDUSTRIAL to the community Show current and future clients you mean business Rare Opportunity

Grocery Store Rare 4-Plex Kenosee Inn Business for sale Opportunity For Sale - Consistent sales in excess of - South end Regina, - Located in the Moose $3 million / year close to University and Mountain Provincial Park - Owner retiring major amenities - Resort hotel property - Located in Indian Head SK - New roof and furnaces - Call for more detail

24 unit apartment Business with Balgonie Motel Moose Jaw Residence - 8 rooms - Managers suite - All suites have been renovated - Commercial on main ﬂ oor - residences on top - Recently improved - Upgraded mechanical, - Just 20 minutes east of Regina electrical & plumbing - Storage business on site - 24 units on TransCanada #1 Hwy John Chung, CCIM Aideen Zareh 306.501.5333 306.591.6915 [email protected] [email protected] www.commercialregina.ca OCTOBER 2018 | WESTERNINVESTOR.COM SASKATCHEWAN | MANITOBA | B19

FOR LEASE - Downtown Offi ce Space BUSINESS OPPORTUNITIES, KINDERSLEY SASK. TOON • 600 sf & 1,950 sf - 2nd fl oor space; • 12,000 sq ft industrial building in Alsask Sk. - 600 volt 3 phase power SSASKATOONASKA Elevator & wide stairwell NTS • High profi le downtown business district and large water line into the building. Asking $295,000 AAPARTMENTSPARTME location • Long stay motel: 7 Kitchenettes & 8 regular rooms, .48 acre lot on • Elevatored & wide stairwell corner of two highways. Busy oil and Gas Community. Asking $550,000 • Transit & Pedestrian friendly location • Underground parking • Commercial Income property - Total gross income $84,600 per year. Asking $650,000 WWANTED!ANTED! FOR LEASE - New Space 700 Victoria Ave. • Hwy Commercial for Sale 3.05 Acres on # 7 highway. Asking $550,000 • 4,370 sf demisable space still available • Industrial building for Rent - 7000 sq ft @ $11 per sq ft a year. Call DEL PETERS REALTY • Space can be divided into 2 or 3 bays For information on these & other commercial properties contact Bill BILL #1 West Road, 306.934.3151 FOR SALE - 18 Suites Apartment ph 306-460-7628 [email protected] WHEAT LAROCQUE Kindersley, SK COUNTRY www.delpetersrealty.com • Value Add opportunity Broker www.royallepage.ca/kindersley S0L1S1 REALTY • Asking $1,800,000 BRANDON, MANITOBA Light Industrial - West Bypass RESORT PROPERTY: ULTRA RARE BUSINESS OPPORTUNITY IN MANITOBA'S RIDING MOUNTAIN NATIONAL PARK. WELL MAINTAINED SEASONALL COTTAGED RENTALS WITH STEADY INCOME AND • Intend to actualize multi-bay, light industrial ROOM TO EXPAND. RECENT APPRAISAL SSOLDTO SUPPORT.O MUST BE SEEN. ASKING PRICE $2,000,000 building(s) +/- 120,000 sf, high clear height & MOTEL: LOCATED ALONG THE TRANSCANADA HWY#1 IN BRANDON. 16 UNITS, MANY UPGRADES TO Saskatchewan wide span BUILDING, FLOORING, BEDDING AND EQUIPMENT.L CONSISTENTD SALES. ON SITE LIVING QUARTERS. • Emerging industrial zoned area between Trans PRICE $1,195,000 SSOLDO Accelerating success. INVESTMENT: 21 SUITE APARTMENT LOCATED 20 MINUTES FROM BRANDON. WELL MAINTAINED Canada & Centre Road BUILDING ON 2.75 ACRES OF RIVERFRONT PROPERTY. LONG TERM TENANTS / LOW VACANCY / • 0.8km West bypass frontage 1km north of 502-518 Main St Melfort EXCELLENT ROI. ASKING PRICE $769,000 Trans Canada/South bypass Interchange RESTAURANTS: WE HAVE RESTAURANT OPPORTUNITIES... LET US KNOW WHAT YOU'RE LOOKING FOR! INVESTMENT OPPORTUNITY • Ease of tractor-trailer access to major access routes WE CAN HELP! INVESTMENT: 30 SUITE APARTMENT BLOCK. MANY UPGRADES TO INTERIOR AND EXTERIOR. LONG • Ideal for show room, warehouse, distribution, TERM TENANTS/LOW VACANCY. LOCATED IN RESIDENTIAL AREA CLOSE TO SCHOOLS. PRICE: $2,395,000 e-commerce space Not what you're looking for? Call us today and we'll help you fi nd the right opportunity for you!! V.(Bill) Kutsogiannis BROKER, CCIM This fully leased retail property is located on a (306) 591-2248 high-traffic corridor in a growing community. Century 21 Westman Realty Ltd. www.janusrealty.ca Brandon, MB Direct Line:204-729-5074 Email: [email protected] Solid tenant profiles and longterm leases are in place and the NOI is showing +7% on return. Upgrades have been recently made to the roof and the parking lot. • RESIDENTIAL 605A Main St. N., Moose Jaw, SK S6H 0W6 $2,385,000 Excl. Ward Edwards • COMMERCIAL Phone - 1-877-694-8082 INDEPENDENTLY • INDUSTRIAL E-mail – [email protected] OWNED AND OPERATED 123 Avenue B S Saskatoon Landmart • FARM & RANCH Website – www.royallepagelandmart.com OFFICE & RETAIL SPACE Investment / Commercial Opportunities - Moose Jaw, SK

Five (5) units available at The Blok, a uniquely CONTACT designed, brightly coloured building with outdoor decks. Purchase your condo and start building equity in Riversdale, a fashionable new “it” destination. $415,000 to Ward Edwards

$1,060,790 Excl. Al Myers 455 High St. W. 83 Ominica St. W. 108 Main St. N. 325 20th St E Saskatoon - Prime Commercial - Over 11,000 sq. ft. of - Prime Commercial Building ofﬁ ce space Building Brian Walz Mike Walz Morley Munn Wally Meili PROFESSIONAL OFFICE BUILDING (306)631-1229 (306)631-7232 (306)631-5327 (306)690-8663 - 5100 sq. ft. - Prime downtown location - 5100 sq. ft. walz@ rmwalz@ morleymunn@ wmeili@ - Former auto body shop - Many adaptable uses - Former auto body shop sasktel.net sasktel.net royallepage.ca sasktel.net

An excellent owner-user/investment opportunity, this professional office building is well situated at the base of the Broadway Bridge in the Central Business District. The zoning allows for a variety of uses and redevelopment/concept plans are available. Kerry Fuchs

$3,300,000 Excl. Kevin Johnson 1885 Stadacona St. W. 44 Fairfold St. W. 780 Home St. W. 15 Lancaster Rd. 250 N. Service Rd. - Low maintenance - 7700 sq. ft. building - Prime Commercial Building - Former livestock operation - 3 acres with highway frontage ± 544 AC RM of Corman Park - Good highway access - 11,200 sq. ft. - 9552 sq. ft. offi ces - 2016 build - 21,900 sq.ft. steel building - Long term leases PRIME FUTURE RESIDENTIAL - Nice offi ce areas - ½ block off of Main St. - 2 heated shops - 9 rental bays & coin-op truck wash MISSION RIDGE - Great investment SASKATOON CITY LIMITS ESTATES - Large mezzanine area - Ideal for offi ces or retail or both - 3.3 acres, heavy compacted yard - lots of parking - fenced compound

F U SUBJECT SITE TUR E SA SK - Huge compound - Parking included - Beside CPR rail yards - Great location - graduated tax abatement A TOON F

REE W AY

PROPOSED UNIVERSITY OF EAGLE SASKATCHEWAN EAGLE HEIGHTS EAST RIDGE MANAGEMENT ESTATES AREA Located at the corner of Highway 41 and Kilmeny Road, this site is positioned in the midst of a proven high-demand area for subdivision development. With a panoramic view of Saskatoon and the river valley, this is a great potential value-added investment opportunity. Glen Paziuk $19,150,000 Excl. Brian Peberdy 220 N. Service Rd. 2020 Norwood Ave. 32 River St. E. 445 13th Ave. N.E. 159 & 163 Fairford St. E. - 2.5 acres with hwy #1 frontage - Thriving asphalt business - Close to Main St. - Oustanding investment - Excellent building lot Colliers McClocklin Real Estate Corp. | 306 664 4433 - Over 12,000 sq. ft. building w/ - Turn-key operation - Two 1250 sq. ft. retail - 11700 sq.ft. offi ce building - In the heart of www.collierscanada.com/saskatoon plenty of open interior space - Plant & equipment stores on main fl oor 2.5 acre lot downtown CIR Commercial Realty Inc. | 306 789 8300 & six 14 x 14 O/H doors - 5 acres of fenced compound - 5 residential suites on - Easy access to the - Across from www.collierscanada.com/regina - Fenced compound - Good highway access 2nd fl oor TransCanada Highway Crescent Park B20 WESTERNINVESTOR.COM | OCTOBER 2018 RESULTS DRIVEN. 604 684 8844

#1 IN CANADA - ROYAL LEPAGE COMMERCIAL 2017 www.kleingroup.com

MOBILE HOME PARK FOR SALE | FORT ST JOHN BC INVESTMENT OPPORTUNITY 100 MILE HOUSE

REDUCED JUST LISTED

• 33 Strata Apartments • Cap Rate 6.5%, 1 Vacancy • 1/2 Bachelor + 1/2 Bedroom Mix • $2,750,000 MOBILE HOME PARK FOR SALE COURTENAY BC • 34.5 Acres • 70 Mobile Home & 14 RV Pads • Expansion Potential and Low Vacancy JUST LISTED • Close to Downtown Fort St. John, Great Highway Access • Owners Currently Operate Park from Vancouver • On Track to Gross over $370,000 this Year • 3 Acres • 25 Pads / 2 RVs / 1 Cabin • City Water, Sewer, Garbage Collection $3,750,000 $3,699,000 • $3,250,000 MHP & LAND FOR SALE MOBILE HOME PARK FOR SALE | FORT NELSON BC CAMPBELL RIVER BC

• 4.8 Acres • 48 Pads JUST LISTED JUST LISTED • Cap Rate 9% • Central to All Essential Amenities • • City Water, Sewer, Waste Removal 66 Pads Expansion / Plans Complete • 23 Pad MHP, Fully Occupied • City Water, Sewer, Garbage Collection $975,000 • $1,700,000 (Park) & $1,000,000 (Land)

MOBILE HOME PARK FOR SALE MOBILE HOME PARK FOR SALE MOBILE HOME PARK FOR SALE PORT EDWARD BC ROCK CREEK BC CRANBROOK BC

REDUCED JUST LISTED JUST LISTED i i

• 70+ MHP and 25+ RV Rental Lots • 3.19 Acres, 15 Pads, No Vacancy • 6.19 Acres • High Demand (Avg. $550 / Pad) • Low Maintenance, Ideal Retirement Home • Prime Location for Townhouse • Projected 40%+ Return, Won’t Last! • 9.1% Cap Rate Redevelopment • $1,988,000 • $549,000 • $3,950,000

Eugen Klein CONNECT B.Comm (UREC), FRI, CLO, CRES, ARM®, RI, CCIM, CIPS, ICD.D WITH US: Commercial Real Estate Investment

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REGIONAL NEWS, MARKET UPDATES, TOP COMMERCIAL SALES

JANUARY 2018 MAY SEPTEMBER Deadline: December 4, 2017 Deadline: April 9, 2018 Deadline: August 13, 2018 ICI outlook 2018 Hotel & motel market Business brokers Virtual reality real estate Golf course plays Alternative financing Land assemblies Technology & real estate Building rentals Close up: Burnaby-Coquitlam Close up: Abbotsford & Mission Close up: Winnipeg • Recreation real estate • Recreation real estate • Recreation real estate • Done deals • Done deals • Done deals

FEBRUARY JUNE OCTOBER Deadline: January 8, 2018 Deadline: May 14, 2018 Deadline: September 10, 2018 In front of transit Foreign buyers REIT report Office report Real estate investment groups Eastern promises (Ontario CRE) Seniors housing Industrial report Limited partnerships Close up: Calgary Close up: Edmonton Close up: Surrey/Fraser Valley • Recreation real estate • Recreation real estate • Recreation real estate • Done Deals • Done deals • Done deals

MARCH JULY NOVEMBER Deadline: February 13, 2018 Deadline: June 11, 2018 Deadline: October 9, 2018 Mobile home parks Cannabis and real estate 5 Top towns Retail churn Find, fix & flip Top resort towns First Nations real estate Green real estate Franchises Close Up: Vancouver Island Close up: Kamloops Close up: Kootenay& Rockies • Recreation real estate • Recreation real estate • Recreation real estate • Done Deals • Done deals • Done deals APRIL Deadline: March, 12, 2018 AUGUST DECEMBER Deadline: July 9, 2018 Deadline: November 13, 2018 Land report Multi-family markets Recreation report Residential investment outlook 2019 Farmland investing Trophy resort properties Mortgage brokers Franchises Waterfront bargains Self-storage Close up: Regina & Saskatoon Close up: Sunshine Coast & Powell River Close up: Metro Vancouver • Recreation • Recreation real estate • Recreation real estate • Done Deals • Done deals • Done deals

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