COMMERCIAL REAL ESTATE | FRANCHISES | BUSINESS OPPORTUNITIES $4.29 • JANUARY 2017 • VOL32/1
INDUSTRIAL | 13 NEW TENANTS DRIVE DEMAND Film industry, super-light industrial compete for warehouse space with traditional clients
FRANCHISES | 14 SOCCER FANS BEST HOCKEY Vancouver’s pro sports franchises saw big shift in 2016 game attendance
CONTENTS Full index 3 Strata offices 10 CRE outlook 12 JON STOVELL Industrial outlook 13 Franchises 14 COMMERCIAL REIT outlook 16 B.C. report 20 REAL ESTATE Done Deals 22 OUTLOOK 2017 PUBLICATIONS MAIL AGREEMENT 40069240 0 1 STRATA OFFICE SURGE | 10 0 6 0 3 5 8 1 8 2 9 1 9
experience. Macdonald Commercial. Our services include Commercial Sales & Leasing, Property & Asset Management, and Strata Management.
Call 604.736.5611 or visit macdonaldcommercial.com Listings on Page A4 A2 | LOWER MAINLAND WESTERNINVESTOR.COM | JANUARY 2017
FOR SALE PRIME OCEANFRONT FOR SALE - SOUTH GRANVILLE FOR SALE FOR SALE 50 UNIT LAKESIDE COMMUNITY DEVELOPMENT OPPORTUNITY INVESTMENT PROPERTY 38.4 - 78.4 ACRES A WATERFRONT RETREAT 315 ROBINSON RD, SALT SPRING ISLAND, BC MARINER’S VILLAGE, SOOKE, BC 3097 GRANVILLE ST/1505 WEST 15TH AVE BURKE MOUNTAIN, COQUITLAM 774 CLIFF ROAD, QUADRA ISLAND, BC
• 8.645 acres of development land approved • Minutes from Downtown Ganges for mixed-use development • Prominent South Granville Investment Property • 2 lots: 38.4 and 40 acres • 2.026 acres of waterfront property • 50 furnished, strata-titled cottages and 5 fee • Spectacular view of Sooke Harbour & the • 10,000 sf leasable area (55’ frontage) • Beautiful views • 11 rental cabins, 2 managers’ residences, an events Olympic Mountains simple lots • Potential Owner/User opportunity • Future residential development property pavilion and a water lot • Serviced, zoned, marina leasehold included • 35.48 acres of lakefront • Contact listing agents for off ering details or ideal estate lot • Stunning scenery with excellent amenities for • Asking Price $12,000,000 bare trustee • Price $6,300,000 • Asking $3,500,000 per lot outdoor activities can be purchased TIM SOMMER* | BILL RANDALL* BRAD NEWMAN-BENNETT • Asking Price $1,525,000 BILL RANDALL* ANNE TANNER* SCOTT MACPHERSON BILL RANDALL* CRAIG BALLANTYNE* INVESTMENT OPPORTUNITY MULTI-FAMILY FOR SALE FOR SALE - TWO BOSTON PIZZA FOR SALE - HARRISON FOR SALE DEVELOPMENT OPPORTUNITY 158 ACRE DEVELOPMENT SITE FRANCHISES LAKEVIEW RESORT WHITEWATER MOBILE HOME PARK 342 WALE ROAD, COLWOOD, BC KNIGHT CRESCENT, PRINCE GEORGE, BC DOWNTOWN VANCOUVER FLAGSHIP LOCATIONS HARRISON HOT SPRINGS, BC
• 3245 Paris Street, Penticton, BC • Centrally located in the rapidly growing West • 158 acres just off the Hart Highway • New long-term leases - Great locations • Strata titled boutique hotel one block from • 10.76 acres / 93 Home pads Shore community of Colwood • Plan includes a mobile home park, single family • Gross annual revenues $5.3 m Harrison Lake • Asking Price $9,900,000 | 5.0% Cap • Site size of 59,374 sf and multi-family • Contact listing agent for pricing • Built in 2012 • Asking Price $3,488,000 • Asking $3,000,000 • 20 suites and 2 commercial units DON DUNCAN* | CHRIS DRIVER* • Asking Price $10,250,000 MARSHALL MCANERNEY* HM COMMERCIAL GROUP TIM SOMMER* | CHRIS DRIVER* BILL RANDALL* ADAM FRIZZELL BRETT AURA* | BART VANSTAALDUINEN* MULTI-FAMILY INVESTMENT OPPORTUNITY FOR SALE/FOR LEASE FOR SALE - CENTRAL VANCOUVER WEST SIDE WITH COMMERCIAL MISTAKEN IDENTITY WINERY PORT KELLS/NORTHWEST LANGLEY LONSDALE DEVELOPMENT SITE PROPERTY WITH INCOME 9010 SCHOOL STREET, CHILLIWACK, BC 164 NORTON ROAD, SALT SPRING ISLAND, BC 9744 197B STREET, LANGLEY, BC 125-145 EAST 13TH STREET, NORTH VANCOUVER 3626 WEST 16TH AVENUE, VANCOUVER
• 26 residential units & 4 commercial units • 9.48 acre site with 7.5 acres of vineyard • 19,375 sf rare freestanding building • 1 acre trophy mixed-use development site • Two storey mixed-use building • 15% foreign buyer tax not applicable here • 3,032 sf wine production / wine tasting facility • Dock & grade loading with cranes • 173,736 buildable sf (4.0 FSR) • Fully leased; 2 retail tenants & 2 residential units • Quality built in 2013 • Ability for investor to keep winery manager • 2 tonne jib crane / 7.5 tonne bridge crane • Holding income • Building sits on a 33’ x 110’ lot • One block from Chilliwack General Hospital in current role • “Clean Room” in middle of warehouse • Contact agents for confi dential off ering details zoned C-2 (2.5 FSR) • Asking Price $3,250,000 HARPREET SINGH* BRAD NEWMAN-BENNETT CHRIS DRIVER* | DON DUNCAN* ANNE TANNER* | TIM SOMMER* BILL HOBBS* SCOTT MACPHERSON CRAIG HAZIZA** | KYLE WILSON FOR SALE FOR SALE RARE OPPORTUNITY FOR RETAIL STRATA UNITS DOWNTOWN/YALETOWN 859 THURLOW STREET, VANCOUVER 2573 WEST 3RD AVENUE, VANCOUVER A USER AND/OR INVESTOR FOR SALE CORNER STRATA OFFICE KITSILANO AREA UNITS 9 & 10 - 9330 194TH STREET, SURREY 4287 - 4299 HASTINGS STREET, BURNABY UNIT 250 - 997 SEYMOUR STREET, VANCOUVER
• Restored class “B” heritage • 8 unit investment property • Two units that combine for 2,674 sf • Triple A location • Unit size: 1,426 sf • 34 units located in the West End • Walking distance from Kitsilano Beach • Great location in Port Kells • Six new retail strata units • Dedicated entrance and elevator for offi ce users • Elegant design in urban location • Located one block north of West 4th amenities • Keep the current tenants or occupy yourself • 590 sf - 5,567 sf • 6 offi ces, 1 boardroom, kitchen and 2 secured • Price $460,000 • 5 fl oors, 1 elevator, small gym and storage • Price $3,100,000 • Spring 2018 completion underground parking stalls • Contact listing agent for pricing • Listing Price $1,429,000
PHIL JOUBERT* PHIL JOUBERT* JORDAN SENGARA* | RON EMERSON ALASTAIR FERGUSSON BOE IRAVANI | DAVID MACKAY INDUSTRIAL HOLDING PROPERTY FOR SALE/FOR LEASE NEW LONG-TERM LEASE FOR SALE FOR SALE - 11 LEGAL LOTS WITH RESIDENTIAL UPSIDE PORT KELLS/NORTHWEST LANGLEY 2455 MANSFIELD DRIVE, COURTENAY, BC ROYAL SQUARE TOTALLING 15.94 ACRES 2664 BEDFORD STREET, PORT COQUITLAM 19855 98TH AVENUE, LANGLEY 789 FORTUNE DRIVE, KAMLOOPS, BC COLUMBIA DR & COALSHUTE RD, GRAND FORKS, BC
• 7,642 sf shop and offi ce building • 45,150 sf offi ce/manufacturing facility with • Single tenant government building • Bank-anchored retail plaza • 11 legal lots totalling 15.94 acres • 18,021 sf site extensive cranes • Easy to manage • Below-market rents • Designated for industrial and service • 5 year lease • Situated on 3.325 acre fully fenced site • NOI: $142,766 • Additional density commercial uses • $1,600,000 • Extensive compressed air system in place • $2,855,000 or 5% Cap • NOI: Approximately $313,000 (stabilized) • Located just 2km west of Grand Forks’ downtown core • Fully sprinklered with access from both north • Asking $6,800,000 and south of the structure • Asking Price $639,000 RICK EASTMAN* | KEVIN VOLZ* BILL HOBBS* ERIC WALKER ERIC WALKER BART VANSTAALDUINEN* FOR SALE: 9.96 ACRE MIXED-USE BUILDING GROUND FLOOR COURT-ORDERED SALE FOR SALE - 28,670 SF DEVELOPMENT PARCEL ON DUNBAR STREET OFFICE SPACE FOR SALE LOTS 26 & 27 - 3220 OTTER POINT ROAD OFFICE/RETAIL BUILDING INTERSECTION OF 76TH AVE & 197TH ST 4446-4450 DUNBAR STREET, VANCOUVER 2245 KINGSWAY, VANCOUVER SOOKE, BC 370 CITY CENTRE, KITIMAT, BC LANGLEY (011-185-225)
• 5,060 sf lot with 5 surface stalls • Fully improved offi ce space with reception, • 1.49 acres • 28,000 sf offi ce / retail building multiple offi ces, open area, kitchen & bathroom • Located in the Latimer NCP (approved) • 2 retail units and one offi ce unit on the 2nd fl oor • 20,000 sf industrial building with • Tenants include BMO & Royal Bank • 1,396 sf with 7 parking stalls 1,200 sf offi ce space • Proposed zone: SFR3 (6-8 VPA) • Located on Dunbar Street between • Projected net income: $220,000 28th & 29th Avenue • $1,098,000 • Level and fully fenced • Proximity to future retail amenities, transit and • Sale price: $2,200,000 the Langley Events Centre • Contact listing agents for asking price • Asking Price $1,975,000
HARPREET SINGH* | MICHAEL HARDY BOE IRAVANI | DAVID MACKAY ROGER LEGGATT* | MAX ZESSEL* BILL RANDALL* | ELIZABETH MEARS BILL RANDALL* 604 683 3111 / cushmanwakefi eld.com *Personal Real Estate Corporation / **Craig Haziza is licensed with CAH Realty Inc. and has a contractual relationship with Cushman & Wakefi eld Ltd. ***Kevin Meikle is licensed with K.H.M. Realty Ltd. and has a contractual relationship with Cushman & Wakefi eld Ltd. ****Sean Ungemach is licensed with SBU Realty Advisors Ltd. and has a contractual relationship with Cushman & Wakefi eld Ltd. 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 Cushman & Wakefi eld Ltd. VANCOUVER | LOWER MAINLAND | VANCOUVER ISLAND
Contents | JANUARY 2017
OPINIONS & FEATURES COLUMNS & NEWS
WESTERN PERSPECTIVE 6 Special report: Sports franchises 14 Frank O’Brien, Western Soccer now outdraws hockey and football Investor editor, tells why Northern landlord disputes survey commercial real estate CMHC “out to lunch” on vacancy numbers 20 developers and agents must become more nimble in 2017 Done Deals What sold and for how much in Western Canada 22 CRE OUTLOOK 2017 12 If not for the lowly homebuyer, a lot of big Metro Vancouver commercial real estate projects would likely never get off the ground ADVERTISING DIRECTORY REITS TO BUY IN 2017 16 Mixing projects – and Lower Mainland 2-20 potential mergers – makes Services 12 some real estate investment Sea to Sky/Sunshine Coast 22 trusts stand out as potential Vancouver Island 21-23 star performers this year MORE OPPORTUNITIES SECTION B Interior B.C., Alberta & other provinces, recreation COVER FEATURE Jon Stovell of Reliance Properties is helping to rewrite the rules 10 – and the prices – for strata office space in Vancouver l 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
CALL Don Munro [email protected] SUTTON GROUP 604-817-7338 www.donmunrorealestate.com WEST COAST REALTY COMMERCIAL/INDUSTRIAL ACREAGE ACREAGE ACREAGE Fill Site HARRISON MILLS CHILLIWACK LANGLEY • 600,000 cubic meter fi ll site on acreage property North Popkum Road 7387 216th Street • great exposure 1201 & 1401 Kennedy Road • 18.01 Acres zoned RU-3 in ALR • 32.45 Acres • highway access & 6 other Properties • Excellent Investment Property with Revenue Potential • Call for Confi dential Details • Currently Zoned Rural (R) • Within easy access to TransCanada via 232nd Street Exchange • +/-23 Acres Farmland adjacent to Kennedy Road • Offi cial Community Plan shows northerly +/- 14 acres is and +/- 12 Acres RV Park/Campground • Greenhouses (+/-154,200 sq./ft.) LANGLEY designated Rural Residential (RR) which allows through plan • Offi ce (+/-2,530 sq./ft.) • Campground consists of 90 existing RV Sites amendment for smaller parcel sizes in strata-title subdivisions; the (Fractional Ownership) with a further potential • Warehouse (+/-5,600 sq./ft.) Bldg. 3, 20381 62nd Avenue - FOR LEASE remaining +/-18 acres is designated Agricultural Small Holdings • 12 Metal Arch Rib Frame Poly Clad Greenhouses (+/-72,600 sq./ft.) for another +/- 60 sites (Campground has three (AG-S) and lies in the ALR, think Ag-Tourism, Ag-Industrial, Ag-Commercial • Container fi eld, fi tted with landscape cloth (+/-3 acres) • Centrally Located +/- 11,784 Sq. Ft. Warehouse 10’x10’ washrooms, laundry, electronically gated • Bordered on the north by Cheam Lake • 4 Bedroom, Principle Residence (+/- 3,175 sq./ft.) • +/- 1,992 Sq. Ft. Offi ce Space off front with full panel fence and three docks) • Close proximity to everywhere!!! $1,200,000 • Two Storey Garage/Storage Building (+/-2,048 sq./ft.) • +/- 1,992 Sq. Ft. Mezzanine • Over a mile in Waterfront • 4 Bedroom, Modular Home (+/-2,470 sq./ft.) • +/- 7,800 Sq. Ft. Warehouse • +/- 5,400 sq ft executive home LANGLEY • Food Processing Building (+/-3,400 sq./ft.) • +/- 200 acres (40 acres was planted in corn last year) • Mixing/Blending Room (+/-8,850 sq./ft.) • Located on the Corner of 204th Street & 62nd Avenue • gravel pit and +/- 2,000 loads of topsoil compost • +/- 3 Bedroom, Labour Accommodation (+/-1,770 sq./ft.) • Grade Loading Doors, Sprinkled, Air Conditioned Offi ce, 272nd Street $14,240,000 $3,900,000 Ample Parking, Corporate Appeal, Well Maintained Sneak Preview 7306 264th Street Lease Rate $11.95 sq. ft. base CHILLIWACK • 44.75 Acres • 138.14 Acres $2.90 Additional 51140 Ruddock Road • 5 House • Located in the beautiful Glen Valley area of Langley • 4 Collectable Parking Garages • Road frontage on 264th Street but also entrance from the CHILLIWACK • 27.097 Acres end of 267th Street • signifi cant road frontage • Amazing Barn and Horse Facilities • Security fenced & Gated • Lots of usable acreage to build your dream home 43775 Industrial Way & 7923 Logan Drive • possible development opportunity $9,900,000 • +/- 0.75 Acre Parcel at 7923 Logan Drive • proposed zoning Comprehensive Development (CD) • Call Agent for Private Consultation • only 15 minutes to schools, doctors & medical services 8261 264th Avenue • +/- 3,380 Sq. Ft. Upper Floor Offi ce at 43775 5079 248th Street - FOR LEASE • 5 Acre View Property Industrial Way CALL FOR PRICING • +/- 6,325 sq.ft., 4 Bedroom, 6 Bathroom custom built • +/-2,000 Sq. Ft. Welding Lean-To • +/- 2,200 Sq. Ft., 3 Bedroom Main Residence 30’x 40’ home with double car garage 7630 Nixon Road Detached Work Shop/Garage Includes a 2 Bedroom Suite • 4 car garage with 1,200 sq.ft. custom built guest house • 60.1 Acres • Excellent Highway Exposure, Ample Parking • 3 Greenhouses, one is +/- 33,594 Sq. Ft., another is +/- 33,096 • Panoramic Views of North Shore Mountains and Fraser • Private end of road building location Sq. Ft. and the third one is +/-64,152 Sq. Ft. Valley from most rooms in the home Lease Rate $9.50 Sq. Ft NNN for Offi ce • Build your private estate here • Drive-down loading dock and new water storage facilities • Gated Driveway with home set well back on property for and Welding Lean-To and • Split Land Use Zoning - 31% RH (Rural Hillside) & 69% • Old Second Residence is located at 5079 240th Street Optimal Privacy RSV1 (Limited Use Reserve) • Many balconies and patio to enjoy the view and for $1.50 for Outdoor Storage Area • Municipal Water, Electricity, Natural Gas • Property is not located in the ALR extensive outdoor living $1.00 Sq. Ft. Additional $2,600,000 • All Roadway in area are paved • Zoned RU-3 $2,500,000 ✓ VALUE FOR $ ✓ GOOD RETURN ✓ TENANT COVENANT ✓ UPSIDE ✓ CAREFREE A4 | LOWER MAINLAND WESTERNINVESTOR.COM | JANUARY 2017
Vancouver 604.736.5611 MACDONALD COMMERCIAL Fraser Valley 604.542.2444 REAL ESTATE SERVICES LTD. [email protected]
DEVELOPMENT OPPORTUNITY DEVELOPMENT SITE WITH GOOD INCOME 10 UNIT APARTMENT BUILDING BOUTIQUE HOTEL AND CHALET
Parksville
SALE SALE SALE SALE
1465 Greig Road, Parksville, BC 24 Ovens Avenue, New Westminster, BC 411 3rd Ave New Westminster, BC (Queens Park) 3012 Alpine Crescent, Whistler, BC • 140.5 Acres Master Planned Community • 48,312 SF Site + 25,347 SF Bldg. • High revenue holding/development property • 10-bdrms & 11-bathrms Development Opportunity • Leased to Canada Post to Oct. 23, 2022 • Lot Size: 17,667 SF • 2 min drive or 15 min walk to Whistler Village • + 3 hr fr. Vancouver, 2 hr fr. Victoria, 30 min fr. Nanaimo • $344,145 pa T. Net • Designated Multifamily • Building Size: 10,500 SF • Perfect for large private family destination • $13,900,000 • $12,500,000 • $4,288,000 • Site Size: 11,551 SF Brian Tattrie, Matt Nugent* & Edward Chiu Chris Midmore or Matt Nugent* 604.736.5611 Cynthia Dong* 604.518.8230 Cynthia Dong* 604.518.8230
WATERFRONT HOTEL RESORT DEVELOPMENT OPPORTUNITY MULTI-FAMILY APARTMENT BUILDING MULTI-FAMILY DEVELOPMENT SITE
SALE SALE SALE SALE
134 Madrona Drive, Galiano Island, BC 1031 Ridgeway, Coquitlam, BC 1030 Harwood St, Vancouver, BC Terrace BC • 15 min away by plane & 25 min by ferry • Site size approx. 18,600 SF with 155 ft. of frontage on • 3 Storey with 30 Suites - Downtown Vancouver Ridgeway & 120 ft. of frontage on Nelson Ave. • 25 acres, flat with easy access, services to site • 3 acres & 600 ft. of waterfront access • Currently zoned P1 being Civic Institutional. For • Site Size: 12,969 sq.ft (99’ x 131’) • Terrace is the service and supply hub of North Western BC • 20 Guest rooms redevelopment options please refer to the C-5 zoning • Zoned RM-5A Multiple Family • A shortage of Multi-family properties in city • 4,000 SF. Restaurant & Bar bylaw for Coquitlam & the Austin Heights area plan. • Assessments: $17,161,700 • Terms and/or JV possibilities considered • Offers • $5,000,000 Cynthia Dong* 604.518.8230 Brian Tattrie & Edward Chiu 604.736.5611 Cynthia Dong* 604.518.8230 Bruce Long* 604.312.2000
RETAIL / OFFICE OPPORTUNITY WATERFRONT DEVELOPMENT PROPERTY SIDNEY - PRIME COMMERCIAL PROPERTY MULTI-FAMILY PORTFOLIO
SALE SALE SALE SALE
107 - 2419 Bellevue Avenue, West Van, BC Located in Greater Victoria Price Includes Profitable Grocery Business, Sidney, BC 201 Unit Portfolio - Central BC • Private entry from Bellevue Ave with open plan • .44 Acre Waterfront Development Property in Victoria • Building has 2 Restaurant Lease Tenants • Well maintained project, 4 individual titles • 545 SF with 26 ft of south facing windows & • Potential Adjacent Land Assembly • Buildings have undergone extensive updating • Zoned C-2 (mixed-use - Commercial & Multifamily) skylights • New carpet & ceiling tiles • Corridor • 11,000 SF Corner Lot • $1,880,000 • Gross rents averaging $150k per month for past 3 years water views • Price $799,000 • Boat Moorage Available • Offered at $669,000 • 9% Cap Rate • Asking $10.95 M
Mark Hagedorn* 604.714.5524 Hans Van de Kamp 250.704.8275 Hans Van de Kamp & Gavin Lee 250.704.8275 Bruce Long* 604.312.2000
RETAIL / OFFICE OPPORTUNITY RETAIL / OFFICE OPPORTUNITY MULTI-FAMILY PORTFOLIO 28 UNIT APARTMENT BUILDING
LEASESALEMark Hagedorn* 604.714.5524 LEASE SALE SALE
#113 - 1433 Lonsdale, West Van, BC 2429 Marine Drive, West Van Kitimat, BC 1101 Harwood St, Vancouver, BC • Office/retail space with large reception/waiting • “A” frame Architecture with 18’ft.+ Cathedral style • 199 Unit Portfolio • 2 adjoining properties, 7 titles + 1 title • Stanley Manor area (ideal for medical/school/office type uses) ceiling height • Extensive renovations include roofs, windows etc. • 3 Neighbouring Properties Available • Operating near 75% occupancy in down market • Ground Floor Unit • 1,396 SF • 7 private offices • Close to transit • Newer Plumbing, Roof & Windows • Offers, Trades or JV potential • Asking $18 M • Monthly rental of $3,868/month + GST • 2,845 SF • Total Monthly Rent: $8,836/month • $14,500,000
Mark Hagedorn* 604.714.5524 Mark Hagedorn* 604.714.5524 Bruce Long* 604.312.2000 Dan Schulz* 778.999.5758
LOWER MAINLAND DEVELOPMENT SITES SMALL ACREAGE DEVELOPMENT SITE INVESTMENT OPPORTUNITY Mission Vancouver
Mission SILVERDALE URBAN RESIDENTIAL AREA SALE SALE SALE
Single Family Lot Development Site 32.5 Acres with Stream – Small Acreage Development Site 1165 Battle Street, Kamloops, BC • Mission 23+ acre Development Site potential for 105 lot subdivision, • Current Zoning Permits 7 units • Currently, number of lots could • Government Tenant budget shows development would profitably produce $300,000 be increased to 18, if rezoning to RR7 is permitted, Or, develop into • 2 Storey Office Bldg. residential lots • Owner will sell or partner on development 30+ lots, when services are delivered to site. Area designated as • Bldg. Size: 26,544 sq. ft. Land Size: 42,000 sq. ft. • Only 1-hour commute to Vancouver or 30 min to Surrey • 30 minute Urban for small-lot subdivision • Net Income: $305,256 commute to Surrey, one hour to Vancouver, by car or transit. • Great • Only 1-hour commute to Vancouver or 30-min to Central Surrey • Cap Rate: 5.5% opportunity for developer/builder. • Asking price $1,850,000 (under $60,000 per acre) • Asking Price $5,600,000 Bob Scragg* 604.290.2906 Bob Scragg* 604.290.2906 Gary Webb 604.714.4780
Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and with- out offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice. *Personal Real Estate Corporation macdonaldcommercial.com JANUARY 2017 | WESTERNINVESTOR.COM LOWER MAINLAND | A5
355 Burrard Street, 14th Floor Vancouver, British Columbia V6C 2G6 +1 604 998 6001 jll.ca MULTIFAMILY FOR SALE 304 Third Avenue 8788 Fremlin Street 22225 - 119th Avenue 2181 West 40th Avenue New Westminster, BC Vancouver, BC Maple Ridge, BC West Vancouver, BC For Sale For Sale For Sale For Sale
• 15 suite apartment • Walking distance to • Fully renovated 13-unit • High exposure corner lot • Excellent location within • Large lot – 16,380sf • 10-unit apartment • Lot size of approx. 50’ building near Queen’s Skytrain station apartment building on SW Marine walking distance to DT • 130 feet frontage on 119 building x 118.5’ Park • Favourable suite mix with • Marpole OCP allows for Maple Ridge Avenue • Located in the heart of primarily 2 bedrooms 2.5FSR • Generous suite sizes Kerrisdale [email protected] [email protected] [email protected] [email protected] 2416 Fraser Street 1285 Martin Street 127 & 129 East 12th Street 1725 McLean Drive East Vancouver, BC White Rock, BC North Vancouver, BC East Vancouver, BC For Sale For Sale Under Contract Firm
• Newly renovated, turn- neighbourhood • Desirable mix of unit • Potential rental revenue • 23 unit building one block away from • Strategic location within Multifamily investment key apartment building • Representing impressive types upside • 17,500 sf lot with future Lonsdale Avenue the Grandview-Woodland property • Located in Vancouver’s cap rate • South facing units, with re-development potential • Excellent value-add OCP • 6LJQL¿FDQWLQYHVWPHQW Mount Pleasant spectacular ocean views • Centre-ice location, potential • Easy-to-manage upside [email protected] [email protected] [email protected] [email protected] INDUSTRIAL FOR SALE 8890 School Street 263 Gower Point Road 2540 No. 5 Road 5371 Regent Street Chilliwack, BC Gibsons, BC Richmond, BC Burnaby, BC FOR SALE FOR SALE FOR SALE FOR SALE
School Road
Gower Point Road Yale Road
Subject
Gibsons Landing • 1.02 acre commercial • Municipal services at • Two waterfront • Over 210’ of water • Manufacturing facility • 3 large grade doors • Multi-tenant building • Rare, fenced yard area development site lot line development sites frontage • 6,359 sf on 0.248 acres • 19’ warehouse ceiling • 40,669 sf on 2.08 acres • Ample parking and • +LJKSUR¿OHORFDWLRQ • Close to amenities • Non-contiguous parcels • Located in scenic • One 5 ton crane height • 12’ - 18’ clear ceilings loading area • Corner lot • Zoned for drive-thru • Phenomenal views Gibsons Harbour • One 3 ton crane • Secure yard area • Grade level loading • Central Burnaby location [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]
PPropertyroperty ttaxesaxes ttoooo hhigh?igh?
✦ Is your 2017 Property Assessment value fair? ✦ Is your assessment value equitable? ✦ Is your property tax classifi cation correct? ✦ Have you received all available property tax exemptions? ✦ Should you fi le an appeal?
Deadline for appeal is January 31, 2017 With over 28 years of property assessment appeal experience, PacWest Commercial Real Estate Advisors specializes in the annual Review and Appeal of property assessments, property tax minimization strategies as well as Property Transfer Tax appeals throughout British Columbia.
Proactive Service, Proven Results
Tim Down, AACI, P. App, CAE, RI Property Tax Services
PacWest Commercial Real Estate Advisors E-mail: [email protected] Web: www.pacwestrealestate.ca 250-864-9140 A6 | LOWER MAINLAND WESTERNINVESTOR.COM | JANUARY 2017 Commercial real estate players must become nimble
COMMENT | Pay-and-go retail, trend to smaller offices and demand for yuppie-friendly industrial space will PUBLISHER: Janai York pressure commercial developers and their agents through 2017 EDITOR-IN-CHIEF: Joannah Connolly EDITOR: Frank O’Brien he once-stodgy com- companies that need less of industrial use: now roasting CONTRIBUTING WRITERS: Tanya Commisso, Jeff Grandfield, Cori Howard, Geoff Kirbyson, Glen mercial real estate WESTERN and more flexible space. In and grinding coffee, making a Korstrom, Peter Mitham, Tyler Nyquvest, Frank sector is undergoing PERSPECTIVE 2010, the average amount of video game, kneading dough O’Brien, Jonny Wakefield, Dale Willerton T PROOFREADER: Meg Yamamoto wrenching change and much of office space per employee was or running an architectural PRODUCTION MANAGER: Holly Burge it will bear down on the market 225 square feet. This year, design studio all fit within the PRODUCTION: Darko Isic this year. a cashier – they simply walk according to Corenet Global, “industrial” definition. ADVERTISING SALES: Audrie Gilson, The retail sector is currently out the door, and the company it will shrink to 151 square feet. But it is way too early to David Witherspoon ADVERTISING SALES CO-ORDINATOR: Angela Foster dominated by big-chain gro- will bill their Amazon account The industrial market has play Taps for commercial real CIRCULATION: Angela Foster cery stores and large shopping for whatever they have taken long been the boring brother estate. NEWSSTANDS: Globe Distribution Services malls, but aggressive online with them. of the real estate family, Office developers are PRINTED: In Canada at Kodiak retailers threaten to change all “If there were hundreds with its large grey suburban designing for smaller spaces Western Investor is published monthly by RE Weekly Limited Partnership that in a hurry. buildings housing distribution and shorter leases; online of these stores around the VANCOUVER HEAD OFFICE: 303 West 5th Avenue, Online giant Amazon has country, it would be a huge companies and long-hold retailers are merging into Vancouver, B.C. V5Y 1J6 opened a Go store in Seattle threat to supermarket chain,” manufacturing firms. But in click-and-mortar outlets; and SUBSCRIPTIONS AND ADVERTISING SALES: that could revolutionize the one retail analyst told the CBC. the past year, movie and TV wily industrial developers are Tel: 604-669-8500 Fax: 604-669-2154 Canada/U.S. toll-free: 1-800-661-6988 entire grocery food sector, The office sector was once producers grabbed nearly 30 selling rather than leasing Canadian publications mail product sales perhaps the entire retail the domain of large law and per cent of the new industrial space to attract fresh investors agreement #40069240, GST #105655567 industry. Shoppers enter resource firms, carving up leases in Metro Vancouver, and and reduce risk. Copyright 2017. While every effort is made to the Go store by waving their office towers into sprawling the whole concept of industrial As always, it is the nimble ensure the accuracy of articles and advertising that appear in each edition of Western Investor, smartphone over a reader. workspaces that could stretch is being turned on its head. that will survive in commercial the publisher may not be held responsible for any Once inside, they can wander over floors and lease over 10- When the City of Vancouver real estate.■ errors or omissions that may from time to time occur. No part of this publication may be reprinted through the aisles, picking year terms. But the growing jigged the zoning on a strip in any medium without the express written up items. When they’re done, demand is from small high- of East Vancouver to attract FRANK O’BRIEN | Editor permission of RE Weekly Limited Partnership. there’s no need to line up at tech firms and other quick employers, it rewrote the idea [email protected] ADVERTISING DEADLINE February 2017 issue: NEXT MONTH: FIRST NATION LAND PLAYS; OFFICE CHURN; CLOSE-UP ON VICTORIA AND SAANICH January 9, 2017
HQ COMMERCIAL 320 - 1385 West 8th Ave. www.hqcommercial.ca Vancouver, BC V6H 3V9 office 604 899-1122
MULTIFAMILY MULTIFAMILY MULTIFAMILY MULTIFAMILY MULTIFAMILY UNDER CONTRACT PRICE REDUCED NEW SOLD
7040 ARCOLA STREET, BURNABY 2274 OXFORD STREET, VANCOUVER 5363 201 STREET, LANGLEY 1968 WEST 2ND AVENUE, VANCOUVER 6665 ROYAL OAK AVENUE, BURNABY 48-suite apartment building 8-suite apartment building New 90-suite luxury rental project 24-suite apartment building 19-suite apartment building Burnaby’s Highgate Area Grandview-Woodland area Completion April 2017; 4% cap rate Totally renovated, vacant possession Metrotown neighbourhood $13,250,000 $2,690,000 $33,900,000 Prime Kitsilano - Bid process Sold: $5,475,000
David & Mark Goodman*, Cynthia Jagger Mark Goodman*, Cynthia Jagger, Sam Emam* David & Mark Goodman*, Cynthia Jagger David & Mark Goodman*, Cynthia Jagger David & Mark Goodman*, Cynthia Jagger, Sam Emam*
MULTIFAMILY DEVELOPMENT ONDS DEVELOPMENT DEVELOPMENT INVESTMENT STREET SOLD
MPHRIES AVENUE U 2424 W BROADWAY, VANCOUVER 4975-4997 JOYCE STREET, VANCOUVER 7444 EDMONDS STREET, BURNABY 1527–1545 E 4TH AVENUE, VANCOUVER 3816 E HASTINGS STREET, VANCOUVER 10-suite rental apartment building Mixed-use redevelopment site High-density mixed-use site Development with holding income Mixed-use on Hastings corridor Kitsilano neighbourhood 13,860 SF (132’ x 105’) Edmonds-Highgate area Site size: 15,875 SF (125’ x 127’) 8 residential units & 1 CRU Sold: $4,300,000 $22,888,000 Call for price $11,275,000 $5,788,000
David & Mark Goodman*, Cynthia Jagger David & Mark Goodman*, Cynthia Jagger Sam Emam*, Ashley Osborn* Mark Goodman*, Cynthia Jagger Mark Goodman*, Cynthia Jagger, Sam Emam*
INDUSTRIAL OFFICE/RETAIL OFFICE/RETAIL RETAIL RETAIL UNDER CONTRACT
111-5113 BRYNE ROAD, BURNABY UNIT A-3981 KINGSWAY, BURNABY 1-113 W 2ND STREET, NORTH VANCOUVER 511 E BROADWAY, VANCOUVER 2370-4000 NO. 3 ROAD, RICHMOND Corner automotive strata bay Excellent exposure on Kingsway 1,235 SF new retail/office Main floor retail space 6,637 SF unit; Aberdeen Square 1,912 SF with office and mezzanine 1,145 SF office/retail Wallace & McDowell Building 2,869 SF in Mount Pleasant area Ideal for a restaurant $524,900 $22 PSF, per annum $40 PSF, per annum $22 PSF, per annum $35 PSF, per annum
Scott Smith Tammy Lam Scott Smith Patricia Wong Chong, Nhi Denis* Tammy Lam
*Personal Real Estate Corporation JANUARY 2017 | WESTERNINVESTOR.COM LOWER MAINLAND | A7
For more information, visit www.avisonyoung.com or phone 604.687.7331
FOR LEASE: 10619 Timberland Road, Surrey For Sale: 1026 & 1032 Clark Drive, Vancouver
D
ILROA t 31,755 or 64,057 sf warehouse space t 7,250 sf development site RA
NSF t Rail and yard available t Up to 21,750 sf buildable (3.00 FSR) VAN ISLE BARGE t I-2 Zoning; no rezoning required for redevelopment
Subject Property t Located in the Grandview-Woodland area John Eakin / Michael Farrell Russ Bougie*/ Kevin Kassautzki FOR SALE: Kerr Avenue Business Park, Chilliwack FOR SALE: 2984 Norland Avenue, Burnaby
t Flexible lot sizes from 3.27 up to 12.65 acres t Fully leased multi-tenant industrial building t Zoned AFP permitting agricultural, food processing & warehousing t 26,400 sf on 1.575 acres t Location off Highway 1 at the Vedder/Yale Road interchange t Located in North Burnaby
Garth White* / John Lecky / Ryan Kerr* Russ Bougie*/ Kevin Kassautzki / Layla Vera FOR SALE: 658 East 3rd Street, North Vancouver FOR SALE: 5250 272nd Street, Langley t Multi Family Development Site t 31,288 sf warehouse/office space t Rare lot located walking distance to Lower Lonsdale t 1.675 acres t Designated 1.0 FSR allowing for quadplex development t Paved yard, multi-tenant design
Matt Thomas Michael Farrell FOR LEASE: Railtown Station 711 Alexander Street, Vancouver SOLD: 9253 Woodbine Street, Chilliwack, BC
t Up to 55,652 sf of brand new light industrial, office and showroom t 61 suite rental townhome complex space t All suite contain three bedroom units t Flagship location in Railtown SOLD t Large 3.71 acre site t Incredible north shore views t Sale Price: $7,320,000 Justin Omichinski* / Jake Luft / Nabila Lalani Rob Greer* / Chris Wieser / Carey Buntain FOR SALE: 60180 & 60188 Highway 99, Squamish FOR SALE: 1094 Marchmont Road, Duncan, BC
t 14+ acres located between Squamish and Whistler t 29 suite, three bedroom rental townhouse complex t High exposure site along Sea to Sky Highway t Seven individual buildings on 2 acres of land t Property zoned rural residential t Significant improvements, including new roofs on all 7 buildings t Asking Price: $4,000,000 Matt Thomas Chris Wieser / Rob Greer* / Carey Buntain SOLD: 1553 Powell Street, Vancouver SOLD: 75 Abbott Street, Penticton, BC
t Site Size: 26,000 sf t 48 suite trophy caliber rental apartment building t Zoning: M-2 with 5.0 FSR t Located one block to the Beach and Lakeshore Drive SOLD t Avison Young represented the Purchaser in securing this Property FIRM t Suite Mix: 33 ones & 15 two bedroom suites t Off market transaction Struan Saddler* Chris Wieser / Rob Greer* / Carey Buntain FOR SALE / LEASE: Units A5 & A6 - 5279 Still Creek Ave, Burnaby SOLD: 2215 Yukon Street, Vancouver
t 9,813 sf of warehouse, showroom and office space t Land Size: 12,090 sf (99.03’ x 122.08’) t Dock & grade loading t Zoning: C-3A Commercial SOLD t Significant upgrades and renovations completed in 2016 t Located on the southwest corner of Yukon Street and West 6th t Ready for immediate occupancy Avenue in Mount Pleasant Kevin Kassautzki / Gord Robson Struan Saddler* FOR SALE: 12788 King George Boulevard, Surrey FOR SALE: 1223-1237 Frances Street, Vancouver
t Rare 1.24 acre corner lot t Fully leased investment property t Approximately 210’ of road frontage along King George Blvd. t Two buildings totalling 28,764 sf t Walking distance to Scott Road Sky Train Station t Located near Clark and Hastings t CHI (Highway Commercial Industrial) Zoning Gord Robson Russ Bougie* / Kevin Kassautzki SOLD: 4787 Cambie Street, Vancouver FOR SALE: 750 Forsman Avenue, North Vancouver
t 9,388 sf corner redevelopment site t Multi Family Development Site t Off-market transaction t Large corner lot in up-and-coming Lynnmour neighborhood SOLD t Avison Young represented the Purchaser in securing this Property t Close proximity to parks, trails, schools and Highway 1
Michael Buchan* Matt Thomas / Mehdi Shokri
*Personal Real Estate Corporation
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. A8 | LOWER MAINLAND WESTERNINVESTOR.COM | JANUARY 2017
RESULTS DRIVEN. 604 684 8844
COMMERCIAL REAL ESTATE SERVICES www.kleingroup.com
MEDITERRANEAN RESTAURANT SALE/LEASE/BUILD TO SUIT | BLAINE WA VANCOUVER BC PRINT & MEDIA COMPANY FOR SALE
tHigh Profile Clientele VANCOUVER 1HR NORTH t2016 Sales Over $3,000,000 REDUCED City of Blaine tSeller’s Disc. Cash Flow $560,000 tFull Training Provided 70% LESS THAN GVRD INDUSTRIAL LAND PRICES tSales of $1,100,000, Located in English Bay [RAMAN BAYANZADEH, SUMIR CHAUHAN] tNet Income Owner Operator $230,000 176TH ST tNet Income Investor $190,000 t$529,000 [RAMAN BAYANZADEH, SUMIR CHAUHAN] $1,500,000
SEATTLE 2 HRS SOUTH MAIN STREET RETAIL FOR LEASE WAREHOUSE / OFFICE FOR LEASE ISLAND FOR SALE VANCOUVER BC DELTA BC SUNSHINE COAST BC t15,000 SF - 1,000,000 SF Buildable; 3.98 to 74 Acre Site Available - Build Ready! t300,000 SF Contiguous Single Site , Full Exposure to Highway I-5 and SR-543 t$230,000 to $280,000 USD per Acre; $6.00 - $7.00 / SF Lease Rate on New Build to Suit LEASED
tBinding Site Plan,Traffic Study, Wetland Mitigation, Army Corps & DOE Approved tUses:Tech Campus, Office/Medical, Retail, Manufacturing, Distribution, Warehousing, Cold Storage, Free Trade Zone [EUGEN KLEIN, RAMAN BAYANZADEH, DEAN THOMAS] t2,000 sf, C-2 Zoning, Corner Unit tLocated in Tilbury Industrial Park tStunning Private 11.6 Acre Island tSuitable for Medical Facility / Pharmacy tI2 - Heavy Industrial, Ceiling Height 18’ t2 Building Sites, West Facing tHigh Traffic Area tDock Loading, 2 Dedicated Parking Stalls t1,067 SF, 3 Bed, 2 Bath, City Power / Water $900,000 - 12,900,000 USD [RAMAN BAYANZADEH, SUMIR CHAUHAN] t$7.50 / SF [RAMAN BAYANZADEH] t$1,688,000 [EUGEN KLEIN]
FRASER STREET DEVELOPMENT DEVELOPMENT LAND FOR SALE WAREHOUSE / OFFICE FOR LEASE FREESTANDING INCOME PROPERTY FOR SALE VANCOUVER BC COQUITLAM BC SURREY BC
tLocated on Busy Fraser Street tComm/Res Mix, 3,750 SF Lot tZoning: C2, 2.5 FSR t2.84 Cap Rate
[RAMAN BAYANZADEH, SUMIR CHAUHAN] t11,500 SF Lot with 2.5 FSR tGreat Development Opportunity t3,500 SF, Zoning: IL tThree Stand Alone Buildings with Income t18,365 SF , Potential 1.05 FSR tHigh Traffic Area, Frontage on 80th Ave. tHigh Traffic Area tOCP Designation of C-2 tClose to Payal Business Centre [EUGEN KLEIN] $2,899,000 t$9,000,000 [RAMAN BAYANZADEH, SUMIR CHAUHAN] t$3,500,000 t$9.50 / SF [RAMAN BAYANZADEH, SUMIR
MULTIFAMILY INVESTMENT FUTURE HOLDING PROPERTY DEVELOPMENT LAND FOR SALE MULTIFAMILY INVESTMENT FOR SALE | SURREY BC KITSILANO BC SURREY BC BURNABY BC
t13245 104th Avenue tLocated next to Surrey Central t41 Units Strata Titled (1 and 2 Bdrm) COMING SOON COMING SOON t1.34 Acre Site, Future Redevelopment tPrincipals Only, No Vacancy [EUGEN KLEIN] tBlocks from Kits Beach t7.94 Acres, NCP Potential 10-15 units t~ 38,000 SF, RM4 or RM5 t10 Suites, Recently Renovated tHigh Density Cluster tPrime Burnaby Location tHeld for Two Generations t$6,656,000 tOCP High Density $9,880,000 tRarely Available [EUGEN KLEIN] [EUGEN KLEIN, DEAN THOMAS, ERIC WU, KEVIN CHIANG] [ERIC WU, DEAN THOMAS, KEVIN CHIANG]
NEW RETAIL UNITS FOR SALE MOBILE HOME PARK FOR SALE MOBILE HOME PARK FOR SALE DOWNTOWN HIGH RISE SITE | VANCOUVER BC VANCOUVER BC ROCK CREEK BC OKANAGAN BC
t1075 Barclay Street tStratafied Building SOLD SOLD t550’ Max Allowable Height COMING SOON tWithin New West-End OCP
[EUGEN KLEIN, DEAN THOMAS, KEVIN CHIANG] tBrand New Strata Units, 2681-2685 Kingsway t3.19 Acres, 10 Park Owned Homes tApprox 100 Pads, Waterfront t1,287 SF / 1,527 SF / 2,850 SF t15 Pad, Dual Road Access tClose to City Centre, City Services PRICE UNDISCLOSED t$798,900 - $1,636,800 t8.5% Cap Rate tPrincipals Only, Buyers Fee Required [KEVIN CHIANG, RAMAN BAYANZADEH] t$599,000 [EUGEN KLEIN, CHRIS HAYNE] tApprox. $7,088,000 [EUGEN KLEIN, CHRIS HAYNE]
MOBILE HOME PARK FOR SALE MOBILE HOME PARK DEVELOPMENT LAND CLEARWATER BC MOBILE HOME PARK FOR SALE | BURNS LAKE BC
t2 Development Sites Available t39.43 Acres, City Services (Vancouver Island and Okanagan) t58 Pads with 100% Expansion Potential COMING SOON tApprox. 70 + Pads each UNDER CONTRACT tPhase 1 Expansion Completed with tClose to City Centres Services (27 Additional Pads) tPrincipals Only [EUGEN KLEIN, CHRIS HAYNE] t6.85 Acres [EUGEN KLEIN, CHRIS HAYNE] t14 Pads plus 2 Residential Buildings PRICE UNDISCLOSED tCity Water, 12 Owned Mobile Homes t$550,000 [EUGEN KLEIN, CHRIS HAYNE] $1,249,000
Raman Bayanzadeh Sumir Chauhan Kevin Chiang Chris Hayne Eugen Klein Pouria Nikravan Dean Thomas Simona Tudor Eric Wu Commercial Real Estate Commercial Real Estate Commercial Real Estate Commercial Real Estate Commercial Real Estate Commercial Real Estate Commercial Real Estate Commercial Real Estate Commercial Real Estate Investment & Leasing Investment & Land Investment Investment & Leasing Investment Investment & Leasing & Land Investment Investment & Land Investment Royal LePage Sussex, Klein Group | Suite 204 345 Robson St. | Vancouver BC Canada | V6B 6B3 O 604 684 8844 | F 604 408 6648 | TF 1 855 684 8844 | www.kleingroup.com JANUARY 2017 | WESTERNINVESTOR.COM LOWER MAINLAND | A9
PROFITABLE RESIDENTIAL BUSINESS FOR SALE LOTS FOR SALE: 18 duplex lots in Osoyoos, B.C. Long established, well regarded metal fabrication business located in Vancouver. FARMS FOR SALE This is a stable, profi table business. Quality blueberry farms - Fraser Valley NAI Commercial ` Tim Down NEEDED: 2016: $1.45M in revenue is Pleased to Leased commercial buildings Cash fl ow to owner $180K 150 Acre Fraser Valley farm Plant & machinery worth over $200K Welcome its Sand, gravel deposits & clean fill sites Sale Price: $675,000 Newest Ray Lewis PREC Sutton Group-West Coast Realty Langley Enquiries by email please to [email protected] Member ` Mike Geddes 604-812-9733 321 Units, Calgary Newer project, good mix of 1 and 2 bedrooms condo quality, heated underground parking. Wanted ` Tony Parmar Subdividable and Multifamily land Metro Vancouver/Lower Mainland LOOKING FOR FINANCIAL PARTNERS IN REAL ESTATE DEVELOPMENT PROJECTS FOR SALE Suite 105 Financial partners needed in real estate development Zoned 2100 acre development land, Quebec 347 Leon Avenue projects in the lower mainland, small-medium sized Close to Montreal, Ottawa Kelowna, BC residential, only nancially viable projects, good returns. Amrik S Rai V1Y 8C7 604-709-9200 or naiokanagan.ca Nate email: [email protected] 250-868-1879 ` Philip Hare 778-886-7319 INCOME REALTY INC. [email protected] website www.incomerealty.ca
simplifying real estate
SUMMER HOTEL FOR SALE INDUSTRIAL FOR SALE PRIME INVESTMENT
#2829 - 4500 Kingsway The Crystal Mall, Burnaby
f11,596 SF on two fl oors with escalator access
fTriple A HSBC tenancy since 2000
fKey intersection in Metro Vancouver
341 East Hastings Street, Vancouver 1650 Kingsway Avenue, Port Coquitlam fClose to Metrotown SkyTrain station f4 storey wood frame building with f28,688 SF single identity building fAsking $10,800,000 brick exterior, 26 rooms (can be 30) fPrecast concrete construction fGround level retail, basement storage f3 phase power, 3 grade loading doors fAsking price $4,188,000 fOnly $146 per SF Don Mussenden James Bayley Steve Caldwell*
FOR SALE OR LEASE INDUSTRIAL FOR SALE DEVELOPMENT SITE
2735 East Hastings Street Vancouver
f16,104 SF corner site fC2C1 zoning fOpportunity to increase holding income fOn-site parking 585 Seaborne Avenue, Port Coquitlam 11502 132A Street, Surrey fUnits 3148 & 3168 for sale - 3,583 SF each f9,118 SF on 0.517 acres, freestanding fImproved with a 15,728 SF two fUnits 3132, 3140, 3156 & 3162 for lease - building stratifi ed into 5 units storey commercial building 3,583–7,166 SF f6 grade loading doors, 3 phase power fFully fi nished second fl oor offi ces fOutside storage permitted Don Mussenden Chris McIntyre* | Ryan Barichello | Steve Caldwell* Sebastian LP Espinosa*
MIXED-USE BUILDING FOR SALE INDUSTRIAL DEVELOPMENT SITES INDUSTRIAL FOR SALE
1580 Kebet Way Port Coquitlam
f19,800 SF building in Meridian Industrial Park
f24’ clear ceilings
fOverhead cranes
6758 King George Boulevard, Surrey 17937 & 18055 96th Avenue, Surrey fFully fenced with rear yard storage f28,842 SF lot with 115' of frontage f3.8 and 2.0 acre sites f4 large drive in loading doors f6,121 SF building fAnniedale-Tynehead neighbourhood fApprox. gross income $144,000/annum fClose to Highway 15, Highway 1, SFPR, fAsking $2,975,000 and Golden Ears Bridge Steve Caldwell* Tony Capolongo James Bayley | Neil S McAllister* | Steve Caldwell*
Disclaimer: Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent verifi cation. © Lee & Associates Vancouver 2017. *Personal Real Estate Corporation 604 684 7117 | lee-associates.com A10 | LOWER MAINLAND WESTERNINVESTOR.COM | JANUARY 2017 Strata office sector set for stronger sales into 2017 FEATURE | Low lending costs, higher lease rates and a chance of equity appreciation boost interest in owning rather than leasing business space – but some wonder if high-end prices will pencil out for investors
need to justify that per-square- By PETER MITHAM foot cost is substantial.” [email protected] With top-tier net lease rates peaking at just over $50 a square combination of low inter- foot, Chambers said some invest- est rates, strong demand ors may find the returns don’t Aand willing builders could pencil out. make 2017 the year of strata office “You have to see a pretty big lift space in downtown Vancouver. in the achievable rental rates in “There’s no indication that this city right now to justify those the feds are going to raise the numbers,” he said. interest rate, so … I think we’re Stovell said some purchasers of going to continue to see strong demand both from the owner- the office space at Burrard Place user side and the investor side in wanted premises close to their commercial product,” said Glenn homes in the adjacent residential Gardner, a principal with Avison tower. Young in Vancouver. A similar phenomenon is playing Avison Young is bringing ap- Bosa Properties and Arpeg Holdings are completing the 46,000-square-feet of strata office space in this out at Strathcona Village, where proximately 46,000 square feet mixed-use tower in downtown Vancouver. | BOSA PROPERTIES Colliers International is market- of strata office and retail space to ing 18 strata office units. The one market in the mixed-use tower in late October and rapidly sold available, are usually limited to account for just 10 per cent of purchaser to date is an interior Bosa Properties Inc. and Arpeg the 60,000 square feet available multi-tenant properties valued sales. designer, but residents in the pro- Holdings Ltd. are building at 1575 in its 45 strata lots, has set the in the hundreds of millions of Whether or not returns on strata ject’s residential condos have also West Georgia Street. The 26-stor- pace. Units sold for upwards of dollars. office space will meet investors’ expressed interest. ey tower will have 175 condos with $1,100 a square foot, the pricing “There’s many, many, many expectations is a question nagging offices on the second to fifth floors driven in part by access to a posh, more people who will make a Mark Chambers, a leasing special- The challenge with investor- and retail at grade. 30,000-square-foot amenity cen- purchase at between $500,000 ist and executive vice-president of owned strata units, however, is “We’re going to see a lot of inter- tre shared with the residential and $1 million, and our market Jones Lang LaSalle in Vancouver. ensuring consistent management. est in this product,” said Gardner, portion of the development. always responds very well to With values exceeding those of To address the issue, Stovell anticipating demand from both A partnership of Reliance Prop- that,” Stovell said. some residential developments, hopes to offer centralized man- owner-occupiers and investors. erties Ltd. and the Jim Pattison Consistent with other strata of- Chambers understands why agement and leasing, unlike other “It’s a really unique opportunity Group, Burrard Place is the biggest fice offerings, the ownership mix developers find them attractive. multi-unit properties such as for somebody to acquire a high- addition of strata office space to at Burrard Place includes profes- “When you start hearing about the nearby Electra or Broadway end office premises in down- the Metro Vancouver market since sionals such as psychologists and numbers like we’re hearing on Central. town Vancouver that’s built to 2014. It’s also the largest offering physiotherapists. the Burrard [Place] project, you “There’ve probably been some a LEED [Leadership in Energy downtown since Jameson House However, small investors are a start to think a lot more about lessons learned about trying to and Environmental Design]Gold came to market in 2011. major part of the mix, too. developing strata office, which in standard.” Prices aside, Reliance president “It’s definitely attracting in- the past we haven’t really talked have more cohesive manage- With residential units in the Jon Stovell said strata office makes vestors who plan to rent to about or advised our clients to do. ment,” Stovell said. “I think that tower fetching premium prices, sense in a market where it’s tough small-scale entrepreneurial But the numbers are starting to discipline, and that key manage- he expects the commercial com- for investors, let alone owners, users who don’t need to do a lot of make it a very compelling strat- ment, is going to be one of the ponent to do the same. to purchase commercial real es- internal build out,” Stovell said. egy,” he said. differentiators between good and Burrard Place, which launched tate. The offerings, when they’re Most are local: offshore buyers “[But] the net rental you would bad strata office projects.” ■
UNDER CONTRACT SELF-STORAGE CHILLIWACK It doesn’t have to be $14.5 million 765+ units • 4.7 acres • M-3 Zoning you against them. Room to expand • HWY 1 Exposure ` Commercial, Residential & Strata Services $1.1 million ± gross sales • 95% occupancy ` Accounting & Financial Statements ` Information & General Services Call 877.611.5241 (toll free) or 604.530.0231 ` Maintenance & Repairs Records & Lease Management Ken Hick Jamie Schreder - PREC* ` [email protected] Wolstencroft Realty [email protected] ` Emergency Services ` Tenant Negotiation Extremely popular Pizza and Pane restaurant • Loyal local following. • Outstanding reputation and strong brand name. • Busy Main Street location with excellent walk-by and drive-by exposures. • Simple concept to operate. • Costs, labor and overheads are easy to manage and maintain. • Stable lease Call today for a free evaluation, and discover • Please do not approach staff . your property management options: 604 534 7974 $160,000 www.marshallzalik.com Confi dential enquiries please contact MARSHALL ZALIK 604-263-8800 [email protected] Westside JANUARY 2017 | WESTERNINVESTOR.COM LOWER MAINLAND | A11
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.
Looking for experienced Development Opportunities Nicola Lake, BC commercial agents! 11.8-acre lakefront property with three titles NAI Commercial is a full service Over 800’ of incredible lake frontage commercial brokerage looking to Opportunity to build 46 residential units plus commercial Quality Industrial Property Only 3 hour drive to Vancouver For Sale / Leaseback expand our team! Asking: $3,300,000 Metro Vancouver 4th most recognised commercial real estate Nicola Lake, BC 6% cap rate A non-disclosure firm in the world. Ten-year leaseback agreement will be required 276-acre lakeview property before the information 5 offices in British Columbia, 375 offices and Opportunity to build 62 residential units Confidential Property package can be released. Offering, sample image 6700 local experts around the globe. All services available Call or e-mail to find out more: Asking: $1,700,000 Asking: $8,000,000 Rob DesBrisay Chris Langhaug Rob DesBrisay 604 691 6602 | [email protected] 604 240 6224 | [email protected] 604 691 6602 | [email protected]
For Sale / Lease Vancouver Opportunities
Oval Village Brand-new community Richmond, BC High visual exposure Retail units for lease from to both pedestrian & 1,300 to 6,000 sf vehicular traffic 736 East Broadway 721 East Broadway (at Fraser) Vancouver, BC (at Fraser) Vancouver, BC Asking: $3,480,000 Asking: $4,288,000 Kamloops Investments Court Ordered Sales Light Industrial Building Retail Building Rick Lui* & Cole Maedel 20,000 sf, good tenants Busy street, good tenants 604 644 6182 or 604 725 2563 Fort St. John & Dawson Creek, BC Asking: $2,600,000 Asking: $1,900,000 Fully-tenanted shops Zoned Light Industrial Mobile Home Park Gas Station & Asking: $1,040,000 (Fort St. John) Convenience Store Asking: $750,000 (Dawson Creek) 34 Pads Asking: $1,200,000 Asking: $2,390,000 Development Sites Michael Marckwort Surrey, BC 604 691 6638 | [email protected] Kamloops Industrial Site 88th Avenue – totalling 5 Acres SOLD Kamloops, BC Zoned IL Mall, Industrial & Land The last large industrial All services nearby. Ready 84th Avenue – totalling 9.43 Acres parcel in Kamloops. to go. Zoned RA 9715 98A Avenue 18-Unit Apartment Building Potential to subdivide into Seller may consider Fort St. John, BC Merritt, BC 4 x 5 acre parcels. trades. Gary Haukeland or JD Murray Yr old 12-unit strata rental Asking 7% cap rate Asking: please contact agent 604 683 7535 apartment building Built to strata specs [email protected] Asking: $2,100,000 [email protected] Asking: contact agent 76-Unit Apartment Building IGA, LCB, Pharmasave Prince George, BC Valemount, BC Businesses For Sale Good condition $96K NNN Dollar Stores, Lower Mainland, BC Under Contract Asking: $1,400,000 Two major mall locations Gross Revenue: $3.8M Suncor Disposal 612 Victoria Street Asking: $1,045,000 (plus inventory) Interior, BC Kamloops, BC Area: 18,500 sf, 28,000 Exceptional Deal Pet Supplies & Grooming, Abbotsford, BC 13,500 sf high-rise site sf, 21,500 sf Asking: $1,000,000 Business Only, One Year Old Hardware Store 2,000 sf strip mall location NOI: $100,000 Asking: contact agent Asking: $350,000 (includes inventory) 2222 Balsam Avenue Local area and poised for 10,500 sf of retail with Wal-Mart Excess Lands Quesnel, BC profit 4,600 sf partially covered Shake & Shingle Mill, Fraser Valley, BC Quesnel, BC 4 acres, 14,000 sf Sale will include all seasonal outdoor retail Gross Revenue: $8M Manufacturer, processor & Asking: $900,000 area Five acres inventory 6 acres producer Asking: $1,750,000 Asking: $699,000 Asking: $11,500,000 (plus inventory) Ted Weibelzahl 604 514 6825 Elizabeth Wozniczko Peter Seed Toll-Free: 1-800-890-9855 [email protected] 604 691 6648 | [email protected] 604 691 6608 | [email protected]
Businesses For Sale Wholesale Distribution Business, National Coming Soon Supermarket & Outdoor Store - Includes real estate, Quesnel, BC $749,000 Frozen Yogurt Franchise, Whistler, BC $525,000 Card & Gift Store - Includes inventory, Vancouver, BC Sold Selling Your Business? Laser Equipment Distributor, Relocatable $899,000 Retiring? Business For Sale Pre-Hung Door Manufacturing Company, Tri-Cities $299,000 Cellular Phone Repair Chain, Lower Mainland $99,000 Collateral Recovery & Collections For a Confidential BC Group of Companies Architectural Millwork & Cabinetry, Surrey, BC $299,000 Business Valuation, Call: Management & staff in place Deli & Meat Processing, Lower Mainland, BC Under Contract Serving government & private creditors Property available for sale John McLeod, CBI CPPA EBITDA (FYE2015) - $500,000 Marion Van Keken-Rietkerk, CBI MBA 604-230-9941 | [email protected] Asking: $1,300,000 604-617-8118 | [email protected]
*All asterisks indicate Personal Real Estate Corporation
VANCOUVER LANGLEY VICTORIA NANAIMO KELOWNA A12 | LOWER MAINLAND | SERVICES WESTERNINVESTOR.COM | JANUARY 2017 Commercial RE outlook ’17: All hail the hero homebuyer COVER | If not for the lowly homebuyer – foreign or domestic – much of Metro Vancouver’s commercial real estate would likely remain in the ground, which makes signs of a residential slowdown worrisome
according to Colliers’ research. By FRANK O’BRIEN And, even with the opening of [email protected] Canada’s largest new indoor shopping mall in South Delta in 2016, Metro Vancouver remains t is impossible to crowbar under-supplied with retail, Col- residential investors from liers found. the future of the commercial I Metro Vancouver now has 14.3 real estate sector in Metro Van- square feet of shopping space per couver because it is the lowly capita, the lowest among all big homebuyer who has been driv- Canadian cites and well below ing commercial land and prop- the ratio in Toronto and Calgary. erty deals to new levels. The largest Metro retail make- For evidence one need only over projects, Brentwood in look at Metro commercial real Burnaby and Oakridge Centre in estate transactions during the Vancouver, both have a strong first nine months of 2016: sales residential component. of land for residential develop- ment accounted for 53 per cent Many new commercial real estate projects – such as Burnaby’s Brentwood Town Centre and the mixed-use of total volumes and dwarfed Burrard Place complex (right) in Vancouver – rely on a hefty residential component. | SUBMITTED Hotels versus condos every other type of commercial real estate. Office sector planned with a total of 600,000 building sales were reported in Metro Vancouver is the best ho- Add in the 109 sales of multi- square feet of Class A space. the first half alone. tel market in Canada, according family rental buildings and Despite a rush of new office de- Early betting is that Morguard’s The relatively low vacancy to HVS International, but 2017 residential made up $5.8 bil- velopments that has added about 227,000-square-foot, 25-storey rate, high demand and rising will see residential action shad- lion of the total $9.5 billion in two million square feet of prime building at 601 West Hastings total lease rates – an average of owing both new hotel develop- commercial transactions as of space in the past 18 months, will lead the wave, with an esti- $47.28 per square foot downtown ment and makeovers. September 2016, a dominance Vancouver’s office vacancy rate mated completion in 2019. – also point to office investments The Trump International Hotel that has characterized the Metro has fallen to 6.9 per cent, one of Two new office towers, the Ex- breaking to the upside in 2017. & Tower, which opens in 2017 in market for two years. the lowest in Canada, according change on Howe Street by Credit downtown Vancouver, has drawn Yet the muscle of the home- to Colliers International. With Suisse and Serracan Properties’ headlines because of the sell out b uyer goes beyond these nearly 340,000 square feet taken seven-storey building on Sey- Retail record of its condominium component at numbers. up in the third quarter of 2016 mour Street will complete in 2017. more than $1,200 per square foot. Today, many commercial de- alone, the stage is set for the next Needless to say, many of Van- The first half of 2016 saw record Other hoteliers are competing velopments rely on a healthy round of hurry-up construction. couver’s new office projects, such transactions of retail properties head to head with homebuilders mix of condominiums to make Office demand across the Metro as the 235,000-square-foot Bur- in Metro Vancouver, as the sales for sites, but Carrie Russell, man- the numbers work, whether in region is expected to increase in rard Place by Jim Pattison De- volume hit $1.1 billion, accord- aging director of a HVS Canada in office and retail projects and 2017 following recent federal velopments/Reliance Properties, ing to Altus Group. North Vancouver, said this can be even, lately, in industrial and approval of new liquefied nat- and the Cardero complex by Bosa The demand is fueled by B.C.’s expensive. hotel developments. ural gas and oil pipelines, an ex- Properties/Arpeg Holdings in- stupendous retail sales. In 2016, “Vancouver hotel developers The current weakening of the panding tech and film industry clude a residential component. consumer sales volumes in B.C. literally have to compete with residential market could affect and a strengthening of the mining This year could also see heated hit $74.9 billion, up 6.6 per cent condo developers, and it just does Metro Vancouver’s commercial and engineering sectors. action in office transactions. Last from a year earlier, the high- not make very many deals eco- real estate into 2017. In all, four new towers are year, a record $1.9 billion in office est growth rate in the country, nomic,” she said.■
Financing for Every Type of Commercial Property We get you the fi nancing you need. Our team has decades of experience with ALL types of commercial real estate: JANUARY 2017 | WESTERNINVESTOR.COM LOWER MAINLAND | A13 Metro Vancouver industrial grapples with demand, costs FEATURE | Canada’s No. 1 market balances a tight vacancy rate, rising land prices and low inventory with a growing appetite from a more diverse line-up of buyers and tenants heading into 2017
cautioned that the industrial By FRANK O’BRIEN shortage must be addressed. [email protected] “We will lose to Calgary, we will lose to Kelowna, we will lose to Seattle and we will lose to Cal- etro Vancouver’s indus- ifornia,” he told a Vancouver real trial vacancy rate has estate conference in November. plunged to 1.5 per cent, M “It’s already happening. Anyone the lowest in Canada, as a di- north of 100,000 square feet, verse demand base and plunging they are looking at those other land inventory create a robust regions.” but challenging sector heading However, the roaring retail into 2017. and wholesale trade sector con- Film and technology companies tinues to fuel local distribution are increasingly seeking space demand. As of the end of last that was once the sole target of year, 5.5 million square feet of retail distribution, warehouse new warehouse space was under and manufacturing outfits. construction and nearly three In 2016, movie and film pro- million square feet had been ducers seized more than 28 per Big, open warehouse space is the main focus of construction and demand across Metro Vancouver in 2017. completed – yet the vacancy rate cent of all the industrial space | PURE INDUSTRIAL REAL ESTATE INVESTMENT TRUST in this sector remained a tight leased in Metro Vancouver, often 2.3 per cent. outbidding traditional tenants to wholesale distributors and logis- for only about six months. As a The BC Real Estate Association become the dominant new player tics/transport companies. result, TV and film companies High land prices (BCREA) sees no downturn in in a tight market. The unpreced- It is no surprise that lease rates are paying full lease rates, and But some warn the cost of in- industrial demand, noting that ented demand from the billion- in some Metro markets have often a premium above that, and dustrial land – an acre can sell its commercial leading indica- dollar B.C. film industry, which soared since Hollywood came even signing two-year agree- for $2 million and Vancouver tor index (CLI) was up 2.4 per has leased at least 1.5 million calling. ments. They then either hold the strata industrial tops $450 per cent in the third quarter of 2016 square feet since mid-2015, has site for a second shoot or attempt square foot – may force some compared to a year earlier. helped to define the entire in- to sublease the space to another distribution, warehouse and “Job growth in key commercial dustrial sector and drive leasing film company. Lease rates rising heavy industrial tenants to look sectors and robust consumer de- rates higher. But the film industry is also re- elsewhere. mand led the CLI higher,” said “They [film producers] have Just months ago, Metro Vancou- building scarce industrial sites Lee Hester, a senior vice- BCREA economist Brendon completely changed our indus- ver industrial leases averaged into giant sound studios. One president with JLL in Vancouver, Ogmundson.■ try,” said Sean Bagan, an in- $8.64 per square foot – similar of biggest industrial lease deal in dustrial specialist with Colliers to Saskatoon or Regina. Today 2016 was Vancouver film produ- International in Vancouver. rates of $20 per square foot are cer Adjacent Production Services The film producers are scram- not uncommon in Vancouver and taking more than 216,000 square Metro Vancouver industrial snapshot bling for high ceiling heights in rates are up 14.6 per cent across feet in Langley. Total inventory: 193.5 million square feet no-column open warehouses the region compared to a year ago, Meanwhile, demand from trad- 1.5 per cent of at least 40,000 square feet according to a JLL survey. itional industrial tenants remains Total vacancy: 2016 net absorption: 2.3 million square feet with enough bay space to turn As agents explain, industrial rock solid in a region that is ex- $9.76 per square foot (annual) big trucks, exactly the type of tenants traditionally sign five- pected to post the highest GDP Average lease rate: 12-month rent growth: 14.6 per cent modern buildings sought by the or 10-year lease agreements, but among major Canadian cities this SOURCE: JLL VANCOUVER INDUSTRIAL UPDATE Q3 2016. biggest industrial tenants: retail/ film shoots need studio space year. A14 | LOWER MAINLAND WESTERNINVESTOR.COM | JANUARY 2017 Special report: Vancouver’s professional sport franchises FRANCHISE NEWS | MLS soccer outdrawing NHL hockey and CFL football as single-A baseball sees attendance increasing
Vancouver Canucks: BC Lions: Vancouver Whitecaps: Vancouver Canadians: Average 2016 attendance: 18,431 Average 2016 attendance: 20,000 Average 2016 attendance: 22,000 Average 2016 attendance: 6,177
2002 and 2014. In the 2015-16 season, average for us,” said Lions CEO Dennis Skulsky. is investing “above and beyond the core By GLEN KORSTROM per-game attendance was 18,431, or about “After 2010, we had the big investment on business,” which means the business has [email protected] 6.8 per cent less than in the 2013-14 season. upgrading the stadium, so automatically so far lost money. Attendance at Canucks games is down only you’re going to attract a certain percentage The biggest drain on team finances is at slightly from the years of non-stop sellouts, of people because it’s a new venue.” the University of British Columbia (UBC), utting bums in seats is an ongoing in part because of promotions such as sliding Hosting the Grey Cup in 2011 and 2014 also where the Whitecaps train. The ownership challenge for many sports franchis- scale pricing. That tactic, introduced in 2015, helped the Lions’ attendance in those years group has partnered with UBC and the B.C. es. Cities across North America, in P saw the team reduce prices for games where because many fans would buy season tick- government to spend a total of $32.5 sports ranging from football to baseball, demand was lower. ets in order to get the perk of being eligible million to upgrade the National Soccer De- have been struggling with ways to keep Canucks vice-president of communica- to buy tickets for those same seats in the velopment Centre, which has three grass and attendance from slipping. Some blame poor tions Chris Brumwell rejects suggestions championship game. two artificial turf fields. team performance for the falling numbers; that ticket sales have stalled. others say fans are finding it more enjoyable “We’re still in the top 10 in the NHL in – and cost effective – to watch the action terms of season-ticket-member health, and, from their big-screen TVs, or even little Vancouver Whitecaps Vancouver Canadians while our season-ticket-member base is a mobile screens, at home. bit softer this year, in an interesting way The Vancouver Whitecaps MLS soc- While most other Vancouver teams Vancouver’s sports franchises are no ex- it’s given new fans a chance to attend who cer franchise averaged slightly higher are losing attendance, the Vancouver ception. All but one have seen a drop in at- haven’t had a chance before,” said Brumwell. attendance than the B.C. Lions, with 20,507 Canadians are seeing a steady increase tendance in recent years. Below is a look at tickets sold per game last year and more than — and regularly selling out its Nat Bailey how each team has fared, and why, during 22,000 in 2016. Stadium venue. the 2016 season. Jeff Mallett, who owns the team with Greg The single-A Northwest League baseball Note: All Vancouver’s sports teams report BC Lions Kerfoot, Steve Nash and Stephen Luczo, sees team has increased attendance each year attendance as tickets sold as opposed to The BC Lions have also seen declining BC Place as a facility with “multiple abilities since 2006, the year before Jake Kerr and actual fans in seats. Attendance figures are attendance, since the high-water mark of an to scale up.” Jeff Mooney bought it. those provided by the teams. average of 30,356 per game in 2012. Today, That compares to cities such as Portland The team averaged a record of 6,177 fans for fan count has dwindled to an average of a and Kansas City, where attendance is strong, each of its 36 home games in 2016. Vancouver Canucks little more than 20,000 per game at BC Place but the stadiums are near capacity with no “We ranked No. 19 or 20 in attendance out stadium, despite a relatively good season room to add new seats. of about 160 teams in North America for all The Vancouver Canucks reported a streak in 2016. While the Whitecaps’ operations are prof- of the minor baseball leagues – that’s single of 474 consecutive sellout games between “The last five years have been an anomaly itable, Mallett said the ownership group -A, double-A or triple-A,” said Kerr. ■
20622964 LAWRENCESKAHA LAKE AVENUE ROAD 206211 SUITE LAWRENCE APARTMENT AVENUE BUILDING 3790 SOUTH MAIN STREET, PENTICTON
MLS®EXCLUSIVE 158174 $1,900,000. $615,000.0000 MLS®EXCLUSIVE 158174 7.5% $615,000. CAP RATE00 MLS® 161901 $5,900,000.00 + 3High bedrooms Density, and Multiple flex room Family above Residential Site + 311 bedrooms suite exclusive and flex apartment room above building in Oliver + Prime multi family development site + Bright1.163 Acresand open &Property level entry Zoned main CD3 living area + BrightAll 1 bedroom and open suites level entry main living area + Currently operating as a popular campground + HighApprovals Quality in finishesplace = 106and residentialbeautiful exterior units plus + HighGrossing Quality $136,000.00 finishes and per beautiful year exterior + Community plan supports as many as 240 units Visit link below for video of subject property +10,000 Large sq/ft fenced commercial backyard space + LargeFull occupancy fenced backyard + Unique and rare multi-family development! wwwwww.greenkinash.com/listings/3790southmainstreet
1631264 CLEARVIEW CARMI AVENUE, ROAD PENTICTON 105135596 HWY GAYTON 97, OLIVER STREET 10041169 HOLDENMAIN STREET, ROAD PENTICTON 1004MOTEL HOLDEN & RV PARK, ROAD OLIVER SOUTHSIDE BUILDER’S MART
MLS® 163000158909 $2,265,000. $319,000.00 MLS® 158603161975 $189,900.$800,000.00 MLS®EXCLUSIVE 158840 $515,000.$410,000.00 MLS®EXCLUSIVE 158840 $1,800,000. $515,000.00 RE/MAX PENTICTON REALTY + Highest1.84 prime quality acres construction ++ Well2 bedroom established plus family(35 years) room supply home business ++ NewPrime 3 commercialbedroom plus property den on 7,230 sq/ft lot ++ NewPrime 3 2.59bedroom acre recreationalplus den site EACH OFFICE INDEPENDENTLY + 3Includes bedroom 20 3year bathroom lease with with Stop double and garage Store ++ HighDouble profile french location doors HWY open at onto south private end ofbackyard Oliver ++ FullyExisting developed 3 bedroom daylight basement basement home ++ Fully4 cabins, developed 7 unit moteldaylight with basement living quarters OWNED & OPERATED + ShortTriple walknet, cleanto the site, village 6% andCAP ski rate lifts ++ SupplyingHuge front buildings yard allowing materials for lotsto South of privacy Okanagan ++ LargeIdeal forcovered conversion veranda to officeswith park or retailviews ++ Large22 R/V covered sites, pool, veranda and clubhousewith park views 101 - 3115 SKAHA LAKE ROAD, + StainlessManagement steel free appliances investment ++ PriceLocated includes on a no-throughLand, Buildings road and in Summerland Business ++ Stunning2,300 sq/ft quality on 2 withfloors detached garage ++ StunningYear round quality occupancy, with detached strong winter garage revenues PENTICTON, V2A 6G5 JANUARY 2017 | WESTERNINVESTOR.COM LOWER MAINLAND | A15
Celebrating 20 Years Marketing British Columbia to the World! www.landquest.com ® 604-664-7630 • 1-866-558-LAND (5263)
WINTER HARBOUR COTTAGES 5.8 ACRE DEVELOPMENT SITE ON FRASER RIVER ACREAGE & GRAVEL BEAUTIFUL SANDY BEACHES NW COAST VANCOUVER ISLAND, BC PEANUT LAKE - DOWNTOWN OSOYOOS GOAT RIVER, BC SOUTHERN GULF ISLANDS NEW LOG CABIN ON NIMPO LAKE
• Road access, 6 residences, 10 deeded lots • Mixed-use high-density development • HUGE PRICE REDUCTION! • AMAZING NEW PRICES! • 2.5 acre lakefront lot on Nimpo Lake • 7 lots with 667 ft oceanfront & 3 upland lots • Approved for a commercial bldg & 3 • 227 acres, 2 miles Fraser River frontage • Private Sidney Island with airstrip & dock • Pioneer Log Home built, 414 ft2 log cabin • Guests rent cottages with access to wharf residential bldgs, 237 units overlooking • Near HWY 16, 160 km W of Prince George • Acreages designed for views & privacy • 2nd rustic 3 bdrm cabin by the lake • 470 linear feet of moorage Peanut Lake • Property on CNR mainline with spur • Miles of sandy beaches, ponds, trails • Well maintained roads, year-round access • Established business listed for real • Commercial frontage on Main Street to pit • Most Southerly Gulf Island near Sidney • Fully serviced: power, water and septic estate value • Build in phases to match market • Gravel deposits meets railway specs • NOW FROM $199,000 • Minutes from all amenities in Nimpo Lake • $1,495,000 absorption. $2,800,000 • NOW $365,000 • Perfect year-round getaway. $198,000 RICH OSBORNE 604-664-7633 RICH OSBORNE 604-664-7633 DAVE COCHLAN 604-319-1500 DAVE COCHLAN 604-319-1500 FAWN GUNDERSON 250-982-2314 Personal Real Estate Corporation Personal Real Estate Corporation [email protected] [email protected] [email protected]
LARGE PRIVATE ACREAGE GREEN LAKE MEADOWS RANCH PINEY POINT RESORT 10,987 ACRE BRITISH COLUMBIA REAL ESTATE PORTFOLIO QUESNEL, BC 70 MILE HOUSE - SOUTH CARIBOO, BC SHERIDAN LAKE - SOUTH CARIBOO
• 374 acre parcel is close to Quesnel • 1,112 acres rolling lush pasture • 7.4 acres prime west facing waterfront • 108 separate titles • On a well maintained government road • Ranch land - 6 separate land titles • Approx. 700 ft gravely shoreline • 3.4% ROI • Abundance of water, good pasture • Ample water supply & spectacular • 3 luxurious 2 bdrm / 1.5 bath cottages • Commercial lease space areas, gravel deposits & young timber building sites with mountain views • 2 rustic log cabins, 1,050 ft2 managers • Residential Development Land • Some of the regions’s best farming & hunting • Comes with 250 cow / calf range permit residence, 13 serviced RV sites (30 amp) • Resource and Agricultural Land • Great building sites with an abundance on adjacent 35,000 acres Crown land • 6 water & power only RV sites • 2,060 acre mature cranberry farm of sun & water. $249,5000 • Nearby access to Green Lake. $1,600,000 • Several tent sites. $1,750,000 • For price call Jason or Jamie FAWN GUNDERSON 250-982-2314 MARTIN SCHERRER 250-706-9462 MARTIN SCHERRER 250-706-9462 JASON ZROBACK 1-604-414-5577 JAMIE ZROBACK 1-604-483-1605 [email protected] [email protected] [email protected] [email protected] [email protected] TRANQUILLE WATERFRONT ACREAGE LEVEL 5 ACRES UNDER $25,000 SUBDIVIDABLE, TIMBER & LOTS OF LAKE AND OUTDOOR PARADISE COMOX VALLEY SOUTH CARIBOO, BC PINCHI LAKE, BC WATER - CELISTA / NORTH SHUSWAP EAST BARRIERE LAKE 690 ACRES IN ALR
• 104 gently sloped acres; not in ALR • Flat, power & telephone at property line • Potential to subdivide into four parcels • Resort development surrounded by • Three 230 acre parcels • 1,500 ft S facing Webb Lake waterfront • Quiet with nice homes in the area • )ODWODQGEHDXWLIXODQGVWUDLJKW¿UDQG Crown land, an abundance of recreation • Lots A, B & C (C has 45 acres cleared) • Serene & private; Crown land adjacent • Most competitive price on the market cedar trees for cutting lumber on site • Lake access and mooring buoy • Bear Creek runs through all lots • Partially treed w/ rolling grasslands. • Close to abundance of Recreation • Saw mill and planer negotiable • Very quiet, calm and warm lake • Good paved road & Hydro • Easy HWY 24 access; driveway already in • Murray Ski Area all close by • Existing log cabin with meadow • No restriction time to build, multi RVs • Drilled residential wells • Subdivision potential w/ 10 acre zoning • Stuart, Babine, Cunningham Tezzeron • Year-round recreation; boating, sledding, • 9HQGRU¿QDQFLQJRUOHDVHWRSXUFKDVH • Grazing, root crop, berry potential in place. $399,900 and Pinchi Lakes. $24,900 ¿VKLQJDQGKXQWLQJ $549,000 available. From $105,000 • Approx. $1M each MARTIN SCHERRER 250-706-9462 JOHN ARMSTRONG 604-664-7633 JOHN ARMSTRONG 604-664-7633 JOHN ARMSTRONG 604-664-7633 KURT NIELSEN 250-941-0040 [email protected] [email protected] [email protected] [email protected] [email protected] WESTCOAST VAN ISLE ME TOO TOWING COMMERCIAL BUILDING & 85 ACRES PUB AND MOTEL SOUTH CARIBOO BUSINESS CENTRE QUEEN COVE WATERFRONT LILLOOET, BC LILLOOET, BC BRALORNE, BC DOWNTOWN 100 MILE HOUSE
• 6 fee simple waterfront lots • 2.1 acres of industrial zoned land • 10,600 ft2 commercial building • Sally’s Pub & Grill, fully equipped • 26,208 ft2RI¿FHEOGJLQFHQWUDOORFDWLRQ • 1,300 ft waterfront • 5,000 ft2 concrete block building set up • Building is steel construction with special licensed pub and restaurant • Generating $155,000 net income 584 acres in 9 titles • Timberframe home / lodge as a body shop wiring, heating, lighting and insulation • On the main road through town • Turnkey, 8% cap rate 18 hole CPGA golf course • PLQXWHVIURPELJ¿VK • Fully fenced impound lot • Agriculture land, fenced garden area, • Mines Motel is one block away and the • New roof, lighting and HVAC 42 modernized bedrooms • Ezperanza Inlet west of Tahsis • 2 tow trucks that generate good income pond, fruit trees, grapes & vegetables only motel in town • Online video surveillance system Licensed restaurant 80 + 80 seats • Good water and dock • Priced to sell! • Suitable for a wide variety of businesses • Turnkey businesses ready for someone • $1,990,000 Development opportunities • REDUCED to $699,000 • $399,900 or learning institutions. $1,479,000 to take over. $500,000 $3,490,000 KURT NIELSEN 250-941-0040 ROBBI-LAYNE ROBERTSON ROBBI-LAYNE ROBERTSON ROBBI-LAYNE ROBERTSON ROB GREENE 604-830-2020 [email protected] 604-351-9417 [email protected] 604-351-9417 [email protected] 604-351-9417 [email protected] [email protected] LOG CABIN WITH BEAUTIFUL GREAT DEVELOPMENT OPPORTUNITY LARGE DEVELOPMENT ACREAGE WITH MIXED USE BUILDING SCENIC RECREATIONAL / HOBBY FARM LAKEFRONT ACREAGE ALBERTA, CANADA PROVEN BUYER DEMAND - MERRITT, BC NEW DENVER, BC LAND - COLUMBIA VALLEY
• Amazing views, private beaches • Your opportunity to develop Phase 2 • Approved development site within the • Restored Heritage building on main • 178 acres of mixed terrain • 2,000+ ft of waterfront • One of Lac Ste. Anne’s most successful City of Merrit street • Mostly forested / partially fenced • Stunning 20 acre oasis on Canim Lake subdivisions... Bridlewood Mews! • Power, city sewer and water • 900 ft2 retail space leased as Pharmacy • Currently being grazed on by cattle • 8Q¿QLVKHGUHQRYDWHGVWRUH\ORJFDELQ • Preapproved for 28 more homesites • Approved for 25 residential lots + • 900 ft2 2 bedroom residential suite above • Convenient access on 2 roads & HWY 95 • Large covered deck overlooking the lake • Internal roads roughed in & new well drilled multiple future phases with large yard • Great building sites with southern • Room for a RV or tenting • Engineering, design & hydrology • Great views - 2 mins to downtown • Over $10k of updates in Fall of 2016 exposure • $449,000 completed. $399,900 • Proven buyer demand. $1,320,000 • $269,900 • $350,000 KONRAD SCHMID-MEIL 250-395-2233 SAM HODSON 604-694-7623 SAM HODSON 604-694-7623 MATT CAMERON 250-200-1199 MATT CAMERON 250-200-1199 [email protected] Personal Real Estate Corporation Personal Real Estate Corporation [email protected] [email protected] A16 | LOWER MAINLAND WESTERNINVESTOR.COM | JANUARY 2017 REIT outlook: Mixing, mergers may define new year FEATURE | Real estate investment trusts mix commercial plays with residential to boost yields and seek safety amidst pressure of potential mergers and acquisitions
radar of U.S. acquisition hunters. By FRANK O’BRIEN Early last year, Milestone itself [email protected] was involved with Starwood Capital Corp. in the purchase of Landmark Apartment Trust, a anada’s real estate invest- U.S. residential REIT. ment trust (REIT) arena is Killam Apartment REIT: Price: the scene of mixing port- C $12.20; Yield: 4.92 per cent. folios and potential mergers in Market cap: $895 million. Killam 2017 as managers seek yields and owns 13,882 rental apartments safety in a more volatile real estate and 5,100 manufactured home market. sites, 60 per cent in Atlantic For commercial REITs the Canada, the rest in Ontario and strategy appears to involve multi- Alberta (22 per cent). It has been family residential as a hedge. spending a minimum of $50 “Residential REITs are million a year on acquisitions. considered to have lower Killam concentrates on newer operating risk than commercial apartments. Killam has been REITs, which are impacted to a RioCan REIT and Boardwalk REIT are in a joint venture to mix commercial and residential at Brentwood rumoured as a takeover target great extent by general economic Village Shopping Centre in Calgary. | RIOCAN REAL ESTATE INVESTMENT TRUST for at least two years. conditions,” noted Keystone Morguard North American Financial in a Canadian REIT along the same path. are also mergers within the REIT $2.04 billion. As noted above, Residential REIT: Price:$12.59. report in late 2016. RioCan, traditionally focused sector as companies consider that Calgary-based Boardwalk Yield: 5.96 per cent; Market While stating that REIT on retail real estate and one of swallowing a competitor could has taken aggressive steps cap: $634 million. Morguard is fundamentals are “reasonably the largest REITs in Canada, be an easier route to yields than to expand into joint venture active in Canada, but owns 30 strong,” Keystone added a has 50 other commercial sites individual acquisitions. developments mixing residential U.S. rental buildings totaling geographical qualifier. “Canadian it “considers to be strong An example is Northview with commercial development. 13,470 units, which generated REITs with high exposure to possible intensification Apartment REIT that merged last Boardwalk remains vulnerable 62 per cent of its net operating Alberta and Western Canada opportunities,” according to year with True North Apartment as a merger or acquisition target income in 2016. It owns 15 rental have felt pressure from the energy RicoCan CEO Edward Sonshine REIT to become one of Canada’s because its valuation has become buildings in Ontario and Alberta, patch downturn,” it noted. in an announcement of the joint largest apartment REITs. cheaper: about 60 per cent of its and in seven states, including But some big REITs are hedging venture. 33,000 apartments are in Alberta. Texas and Florida. against that warning. RioCan has already obtained Milestone Apartments REIT: Pure Multi-Family REIT: Price: In November, RioCan Real planning approvals for nine REITS to watch Price: $19.21. Yield:3.77 per $6.10; Yield: 6.15 per cent; Market Estate Investment Trust of mixed-use projects with a total cent. Market cap: $1.4 billion. cap: $325 million. A small REIT Toronto announced a joint of more than 10 million square The following is a look at Toronto-based Milestone is the that concentrates on high-quality venture with Calgary-based feet of rental housing and residential-weighted REITs in largest Canadian REIT that is U.S. rentals, it is holding 4,440 landlord giant Boardwalk Real condominiums. Canada that Western Investor focused solely on the U.S. multi- units in Texas and Arizona. Estate Investment Trust to Another REIT on a similar believes have a potential for family sector. Rated a “buy” by Vancouver-based Pure should see develop a mixed-use, 11-storey two-lane track is Allied Real mixed-use plays or mergers with Keystone Financial, Milestone stronger performance into 2017 as residential rental tower on part Estate Investment Trust, which larger commercial REITs in 2017. zeroes in on mid-market rentals the U.S. economy improves and of RioCan’s Brentwood Village is involved in three Toronto joint Boardwalk REIT: Share in fast-growing U.S. cities. It rental demand increases. This Shopping Centre in Calgary, and ventures to blend housing with price: $44.15. Yield: 5.10 per holds 22,000 U.S. apartments in could attract bidders for this low- said it is looking much further commercial properties. But there cent. Market capitalization: 70 projects and could be on the cost, low-cap residential REIT. ■
INVESTMENT AND BUSINESS OPPORTUNITIES 604.779.6644 www.gordonkleaman.com HUSKY GAS STATION COMMERCIAL Abbotsford busy Corner Location Well Established Husky Gas station / Convenience Store plus Lotto. Business FOR SALE Only. Asking $389,000 RESTAURANT AND PUB Stata Titled Apartment Offi ce Development Property Fraser Valley 1.35 acres Approx 9700 SQ FT 210 Seat Building in in Highly sought after Liquor / Food Primary Licence Bar with 26 Beer Taps. Vancouver Tech Community Extra land proposed for mixed use Commercial on main & Port Coquitlam Close to Skytrain. 26 condo units above. Asking $5,200,000 10 residential and Zoning in place FRASER LAKE VANDERHOOF BC 2 commercial units Approx. 210,000 + buildable Hotel 32 rooms 50 seat Pub 70 seat Restaurant 4300 SQ $98 per buildable Sq.Ft. FT Grocery Store plus 800 SQ FT rental space. All on 1.15 Renovation in Progress Vacant land currently acre Land. Asking $1,500,000 $3,500,000 as completed NDA required GAS STATION SITE Merritt BC. 1.88 Acre approved Gas Station Site Wanted: environmental done with proposed drawings. Wanted: Industrial land over 2 Acres, Asking $595,000 5740-5800 Minoru Blvd., Richmond $59,800,000 Offshore purchaser preferably vacant. FRASER VALLEY ESSO Lower Mainland area to This newly built Esso Gas Station, C- Store, Lotto, Pizza 5740, 5760 and 5800 Minoru Boulevard. This exceptional development of 3.88 acres in the heart of Richmond is going to become Richmond’s hottest looking for Mission, Chilliwack plus 2-bedroom suite above. Located on a busy corner. property. 1/2 block from the skytrain, this assembly provides ongoing Asking $2,595,000 Marina Property Medium to heavy industrial revenue while rezoning gets under way. A non-disclosure agreement must zoning preferred BOTTLE DEPOT be signed for additional information including; mock-up designs, existing Salt-water BC based only. Lower Mainland location Encorp Pacifi c Licensed leases, fi nancials and rent roll, environmental reports, and architect concepts. Cash Purchaser Depots with own territory. Please call for Info! ABBOTSFORD NEEDED For Sale Professional Commercial 2058 sq ft Strata. IS YOUR LAND CONTAMINATED? Fully leased to long term solid tenant. Asking $695,000 Client looking for contaminated sites. Cash purchasers. Development potential after clean-up is required. Joint ventures possible. ASHOK KUMAR 604-855-0800 Cell: 604-556-6399 Gordon Kleaman M&A / BUYING / SELLING [email protected] 604.779.6644 CREST REALTY JANUARY 2017 | WESTERNINVESTOR.COM BUSINESS OPPORTUNITIES | LOWER MAINLAND | A17 COMPANIES WITH Kindersley, SK – 72 MH & 59 RV pads ....4,950,000 TAX LOSSES FOR SALE Fort St John, BC – 81 pads, 16 ac ...... 2,475,000 INVESTMENT (Real Estate Related) Fairview, AB – 50 pads, 7.1 ac ...... 1,850,000 9 separate company losses: RESIDENTIAL SUBDIVISION Salmo, BC - 39 pads, 18.06 ac ...... 1,498,000 Rosemary, AB - 57 pads, 9 ac ...... 1,300,000 Total of: $34,000,000 Shaunavon, SK – 17 pads, 3.66 ac ...... 695,000 15% ROI / NO FOREIGN BUYERS TAX Langenburg, SK – 60 pads, 14 ac ...... 575,000 (smaller company losses available) Dominion, NS – 17 pads, 4.3 ac ...... 340,000 Calgary and/or Vancouver HarryH Jesse Deal direct TollT free: 1-888-251-2822 Flexible terms! Excellent Value! DDirect Line: 604-302-3771 Contact William FFax: 1-888-804-1394 WWeb site: www.mobileparks.com (phone / text / email) EEmail:[email protected] Mobile 604-657-1270 Homelife Glenayre Realty [email protected]
Live in the Executive House (5 Bedrooms, 4 Bathrooms) SSunnyunny OOkanagankanagan VValleyalley ADVERTISE WHERE with pool located on Lot #39 (25,000 SQ.FT.) Forklift Sales and INVESTORS ARE LOOKING Service Business t #VJMEJOHMPUTGPS4JOHMF'BNJMZ)PNFT&YFDVUJWF)PNF 4' XJUIQPPM • 35 years in business t "DSFT4FQBSBUF-BOE5JUMFT"WFSBHFMPUTJ[F 4' • Great business for husband/wife t 'MBU-FWFMMPUTBOEWJFXMPUT or partnership t -PDBUJPO$JUZPG.JTTJPO #SJUJTI$PMVNCJB • 4 Revenue Sources, labour, Parts, t ,.GSPN%PXOUPXO7BODPVWFS IPVS BOE,NGSPN"CCPUTGPSE*OUFSOBUJPOBM Sales, Rentals "JSQPSU .JOVUFT • Mechanical Aptitude Important • Turn key business t 4UBSUBOE'JOJTIQPJOUGPS8FTU$PBTU&YQSFTT3BQJE5SBOTJU5SBJO • Lots of potential to grow )PVS.JOVUFT$PNNVUFUP8BUFSGSPOU4UBUJPO • Shares Sale 604.669.8500 • $210K plus inventory ® Daniel K Preston for Project Information REALTOR TOLL FREE 1.800.661.6988 Selling for health reasons [email protected] 604.617.5981 WESTERNINVESTOR.COM 250-808-3104
Jasbir Banwait (PREC*) Manbir Banwait (PREC*) Bernie [email protected] [email protected] REAL ESTATE MARKETING • Commercial • Agricultural • Residential THIESSEN (778) 552-0305 / (778) 241-4472 bgrp.ca 8387 Young Rd. HomeLife Glenayre Realty 604-795-2955 Chilliwack Ltd. Cell 604-819-0456
BISMARCK
5 & 8 ACRE BARE LAND BAR BUY 1 OR BUY BOTH! GREENDALE Bare cultivated farmland. Th ese 2 fertile, level properties are side by side and ready for an estate, 60 seats with 15 seat patio Hobby Farm or agricultural use. 5 Acres • $799,900 & 8 Acres • $929,900 All Liquor Primary Call Now Open/Industrial Design $$839,900839,900 with vaulted ceilings, full kitchen/HVAC Great Exposure, 526 Abbott Street Affordable industrial/residential building for sale close to Young Road downtown with spacious residential units upstairs and $299,000 4 large bays in behind and 1 commercial space on ground fl oor. All rented. Call FFOROR LEASELEASE Larry Traverence 604-787-7654 Kris Pope PREC 604-318-5226
Dexter Associates Realty Commercial Real Estate,
HIGH EXPOSURE - CORNER of Yale Your Trusted Advisors Road and Airport Road in new MIDTOWN DEVELOPMENT. Will build to suit with potential drive thru. Proposed 2 storey 7863 sqft per fl oor with approximately 37 parking spots. Also 1.8 acres available across the street. Call Bernie for information. “We are focused on achieving the results YOU want.” A18 | LOWER MAINLAND WESTERNINVESTOR.COM | JANUARY 2017 Eleven dos and don’ts when leasing commercial real estate
ince 1993, we’ve been are and explain why you have Don’t accept the first offer. guarantee is an entrepreneur’s negotiating commercial REAL ESTATE come to see them. Ask for their Once your landlord has made the personal promise to honour Sleases and renewals for TAXATION comments about the landlord, first offer regarding your lease the lease agreement if the tenants. From our experience, the property management and renewal, the real negotiations tenant or corporation defaults. here are 11 tips that hold true the rent. For lease renewals, begin. With patience and Sometimes, a personal whether a tenant is looking talk with other tenants in the good communication, you can guarantee is necessary but at a new commercial space or building who have recently improve almost any first offer, we recommend opting for a coming up for a lease renewal. renewed to find out how much which may be nothing more “limited declining personal they are paying now and how than a smokescreen anyway. guarantee”. To explain, let’s Create competition for your smoothly the negotiations One landlord’s first offer to our say you are getting a $50,000 tenancy. Negotiate on more than proceeded. client, a doctor, was at $28 per tenant allowance. It would not one location simultaneously – square foot. We were able to be unreasonable to guarantee a especially with lease renewals. Ask questions about the negotiate a long-term deal at maximum of $50,000, declining Even if you don’t want to move, property and the landlord. under $10 per square foot. by $10,000 per year thereafter. create options so you can play Commercial tenants shouldn’t These are only a few of the dos one landlord against another. rely on what the property Negotiate for lease renewal and don’ts that will help you Share with each landlord that By Jeff Grandfield and manager, leasing representative incentives. If your lease is when it comes to negotiating you are receiving proposals Dale Willerton – The Lease Coach or agent voluntarily tells them. expiring, ask yourself: what your new lease or renewal. on other sites. Remember, the The Lease Coach typically poses inducements would the landlord Remember, ultimately, that tenant is the customer and the questions such as these: How give to a new tenant just coming your success will depend on landlord is the seller. Make the his agents are playing to win long has this landlord owned into the property? Examples of your location and the deal you landlord earn your tenancy. and so should you. Negotiate this property? Is the property for such inducements would include make.■ assertively. sale? How many other properties free rent and tenant allowances. Start the process well does the landlord own? Is there If these were there for the in advance. For existing Ask for more than you expect local, on-site management? offering to a new tenant, then commercial locations and lease to get. By “asking” we mean What is the vacancy rate? You why wouldn’t an established renewals, we recommend that that you should be negotiating may be surprised with the tenant – with a proven track Dale Willerton and Jeff you start at least 12 to 15 months for more than you expect to get. conclusions you can draw from record – get the same (or more) Grandfield – The Lease Coach ahead. This allows ample time Ask for eight months of free the answers to your questions. consideration? are commercial lease consultants for completing paperwork, rent if you want five. Ask for an who work exclusively for searching for alternate sites $80,000 tenant allowance if you Keep your success quiet. Don’t misunderstand the role tenants. They are co-authors (if necessary) and accounting want $60,000. This allows for One of the reasons why your of the agent: When doing site of Negotiating Commercial for Murphy’s Law. If you can’t “wiggle” room for negotiations. landlord will raise your rent selection, you should phone the Leases & Renewals for Dummies secure a good deal within the Many commercial tenants are for the lease renewal period is number on the “for lease” sign (Wiley, 2013). Call 1-800-738- first few months, you can still disappointed with the outcome due to your success. If you have on the building. Be aware that 9202, email dalewillerton@ exercise your option to renew of their negotiations because been profiting in a particular if multiple agents are involved, theleasecoach.com or visit www. or start the relocation process. they neglect to build in room location, you likely will not there may be commission- theleasecoach.com. For a copy of to negotiate. Negotiations want to move even if you can splitting. This may diminish a free CD, Leasing Dos & Don’ts Negotiate to win. You want should go a few rounds; that afford the rental increase. Some your chance of getting a location for Commercial Tenants, email to get as many landlord is the nature of the real estate landlords will take advantage of if the listing agent finds his own jeffgrandfield@theleasecoach. inducements as possible – free industry. tenants knowing how disruptive tenant to lease the space. com. rent, a tenant allowance, no it can be to move and set up a deposit, a low rental rate, a great Talk to other tenants. You can new location, especially if the Avoid giving unlimited location and so on. Note that gain a wealth of information business is thriving. personal guarantees. A personal inducements are more common by talking with tenants who in some cities than in others, have recently moved into – or based on local vacancy rates and out of – the building. Be direct. other factors. The landlord and Tell those tenants who you In leasing, tenants don’t get what they deserve – they get what they negotiate HHappyappy HHoliday!oliday! PRIMEPRIME LLANDAND 1133 AACRECRE LLANDAND AASSEMBLYSSE ACROSS FROM LANGLEY EVENT CENTRE • Great opportunity to build a multifamily development, and a business offi ce park or hotel right across the street from the Langley event center. One of the best locations in Langley, near to schools and easy access to Highway 1 • 9 acres designated under the New Community plan within the Town Ship of Langley as high density, 4 acres designated as Business Park. • Potential to build up to 20 storeys 900 FT • Pedestrian overpass from Langley Event Centre to Business Park will be built by City • Comparable to recent sold land assembly in Fleetwood. 50 million sold price, 14.48 acres, 0.7 FAR ($3,453,039/acre). Please contact us for more details Roveen Kandola & Associates 604-644-7653 RE/MAX Real Estate Services North Tower, 410-650 West 41st Avenue Amardeep Kallu & Navi Thiara Vancouver, BC, V5Z 2M9 JANUARY 2017 | WESTERNINVESTOR.COM LOWER MAINLAND | A19
Commercial Division 604 728 2845 / www.fraserelliott.com
OUTSTANDING INVESTMENT IN HIGH PROFILE TILBURY LOCATION 3 STRATA UNITS FOR SALE IN NEWER TILBURY BUILDING! 8128 RIVER WAY, DELTA $8,888,800 207, 208 & 209 8291 92 AVENUE, DELTA $4,586,000
River Way Business Park - 2 storey tilt-up building with established manufacturing business. Substan- Approx 14,700 sq.ft of total space. Options to purchase units separately or together. 2013 concrete tilt-up tially improved to suit existing manufacturing needs, this building consists of multiple production areas, EXLOGLQJZLWKZDUHKRXVHDQGRIзFHVSDFH3ULPHH[SRVXUHIDFLQJ5LYHU5RDG5LYHU PRXQWDLQYLHZV RIзFHVDQGERDUGURRPVSDFHVVTIWRIWRWDOиRRUVSDFHRQDFUHRIODQG)URQWDQG5HDUSDUNLQJORWV from all units. Unit 207 - approx 4,000 sq. ft. - $998,800; Unit 208 - approx 6,900 sq. ft. plus existing pizza (34 marked spaces) and 2 roll-up loading doors. Long term tenant wishes to remain on lease. business with approx $100k net income - $2,188,800; Unit 209 - approx 5,600 sq. ft. - $1,398,800.
PROFITABLE MARINA OPPORTUNITY BUILDER & INVESTOR ALERT 3443 W RIVER ROAD, DELTA 4016 W RIVER ROAD, DELTA $2,688,800 $2,198,800
Rarely available WATERFRONT property that features a 1 acre Potentially subdividable 1.5 acre parcel in prime West Ladner 30 berth Marina business plus a 13,250 sqft land lot, this unique location right across from the Fraser River. RS4 zoned and offering includes a very livable and charming one bedroom home NOT in the ALR. The property has a very livable, updated 3 ZLWK D ERQXV ORIW LQ DGGLWLRQ WR DQ LQFOXGHG EHGURRP иRDW bedroom home plus a detached workshop. Corner lot with 2 home offering STUNNING VIEWS. road frontages.
HIGH EXPOSURE LOCATION CRANBERRY FARM HIGHWAY 99 LOT 1, DELTA 7165 MAYS ROAD, DUNCAN $6,888,800 $3,388,800
3ULPHIDUPODQGLQKLJKSURзOHORFDWLRQ DFUHSDUFHOQHDU 66.61 acre parcel with over 30 acres of cranberry producing George Massey Tunnel. ALR designated A1 zoning. farm land in Duncan, BC.
BLUEBERRY FARM IN PRIME LOCATION INVESTOR & DEVELOPER ALERT 5121-5039 112 STREET, DELTA 5385-5375-5361 8A AVENUE, DELTA $24,225,000 $5,950,000
Established blueberry farm in prime Delta location between Investors, developers look no further! Potentially sub-divid- Hwy 99 and Hwy 10 sold together with 5039 112th for a total able 68,782 sq.ft. property in central Tsawwassen location. of 96.84 acres. Property includes two houses, barns and ma- 5375 8A Ave. and 5385 8A Ave. to be sold together and pos- ture crops with multiple variety of berries. sibly 5361 8A Ave. for a combined total of over 90,000 sqft!!! Inquire for more details on redevelopment potential.
23 ACRE PARCEL NEAR INDUSTRIAL PRIME LAND ASSEMBLY CORRIDOR 4600-4624 51 STREET, DELTA 2990 57B STREET, DELTA $5,238,000 $11,500,000 Prime land assembly opportunity in stunning location just Strategically located adjacent to BC railway and Delta Port steps to Ladner Village. Inquire at city hall for zoning details. Highway, and near new industrial park developments at TFN. OCP designated ground-oriented residential. Possibility for Property currently used as an equestrian centre with indoor town-homes and maybe condos. Total combined site ex- riding ring, outdoor arena, round pen, and 3 live-able homes. ceeds 28,000 sqft.
BUILDING AND BUSINESS DEVELOPMENT PROPERTY 4916 ELLIOTT STREET, DELTA 18083 74 AVENUE, SURREY $748,888 $16,888,800
:DWHUIURQWUHWDLOEXLOGLQJLQFOXGLQJSURзWJHQHUDWLQJEXVLQHVV 35 acre parcel with rezoning and re-development potential right in the heart of Historic Ladner Village! The 1.088 sq ft close to other master-planned residential developments. Ex- retail space operates a 40+ year old boutique store offering cellent proximity to Hwy 1 and Hwy 15 (176 Street) and count- vitamins and supplements with an emphasis on health, nutri- less amenities. tion, and general well-being.
#1 TEAM IN THE GREATER VANCOUVER REAL ESTATE BOARD YTD 2016* #3 RE/MAX TEAM IN ALL OF CANADA YTD in 2016** 604 728 2845 / www.fraserelliott.com RE/MAX® Progroup Realty 5360 12th Ave, Delta, BC V4M 2B3 *Based on Greater Vancouver Real Estate Board Statistics total MLS sales. **For total residential and commercial commissions combined of all RE/MAX sales associates in Canada to date - Jan 1 to Sept 19 2016. A20 | LOWER MAINLAND WESTERNINVESTOR.COM | JANUARY 2017
B.C. | WHAT’S HAPPENING Northern landlord claims CMHC Robson retail ALC nixes Asian Rental plan rental survey is “so out to lunch” among priciest school on coast needs buy-in B.C.’s Agricultual Land The B.C. government will Commission (ALC) has need support from com- nixed a plan to develop an munity groups, the private international school in Powell sector and other levels of River that would have served government if it is to deliver up to 200 Chinese students. on a promise to create nearly In a November ruling, the 3,000 low-cost rentals, re- ALC denied an application search shows. to exempt 30 acres of The new provincial plan, agricultural land for the Sino announced in late November, At an average of $166 per Bright School campus. said B.C. will commit $500 square foot, annual retail Powell River Mayor Dave million to deliver 2,900 leases on Vancouver’s Robson Formosa reacted to the deci- units of “affordable” rental Street are the second most sion with shock. housing. Dawson Creek has the highest rental vacancy rate in B.C., according to a new expensive in Canada, but it “I read the ruling three That spending works out to rental survey. | INVEST IN BC pales in comparison to the top times,” he said. “You read it approximately $172,000 per retail strolls on the planet. and just shake your head.” apartment, far below the cost partment vacancy rates in they’re so out to lunch,” he said. The latest Main Streets Formosa said that the panel of constructing recent units Dawson Creek and Fort Scott said CMHC figures don’t re- Across the World report from concluded the land should of social housing. ASt. John are once again spond quickly to market conditions, Cushman & Wakfield notes be preserved for agriculture, The average cost per suite the highest in British Columbia, which can change depending on gas that Bloor Street, Toronto, “even though the land is not of the last four assisted rental according to Canada’s housing plant construction, drilling sched- ranks No. 1 in Canada, with that good for farming, even projects in B.C. was $314,637, agency, but local landlords are ules and pipeline approvals. average rents of $250 per though it would be extremely based on a Western Investor divided on whether the numbers “By the time they do their survey square foot. expensive to prepare it to be study. accurately reflect the market. and gather their report and put it to Montreal’s Saint Cather- farmed and even though the These projects include Canada Mortgage and Housing press, they’re always three months ine Street was in third place, amount of farming you’d ac- the Centrepoint complex Corp. (CMHC) blamed low oil back,” he said. “Three months ago, followed by Whyte Avenue tually be able to do with it is in Squamish, where it cost and gas prices and oversupply for there was substantial vacancy, but in Edmonton and Calgary’s quite limited.” $393,750 to deliver 32 units climbing vacancy rates in Fort St. things turned around quickly.” 17 Avenue SW, where rents “We’re extremely disap- of low-cost rentals, and the John and Dawson Creek in its annual Scott said market conditions were average $39 per square foot, pointed in the decision,” said M’akola Housing Society rental market survey. still soft, but “we’re going the other down from $40 per square Powell River school district project in Langford, where Dawson Creek recorded an overall direction. We’re climbing out of foot in 2015. superintendent Jay Yule. 36 rental units cost an average rental vacancy rate of 19.1 per cent in the hole. I’ve never seen the town According to market re- Yule said there was other of $325,000 each. October, 4.5 points higher than the busier.” ports, retail investment in school district land in the Both of these projects had same time last year. Lita Powell of Fort St. John’s Li-Car Vancouver, Calgary and Ed- area that could potentially broad financial support Fort St. John, meanwhile, saw its Management Group, however, said monton are strengthening. be used, but he did not know from the community and vacancy rates surge from 12.1 per CMHC might be underestimating The most expensive retail the status of the land. the federal and provincial cent to 30.7 per cent, according to the city’s actual vacancy rates. streets in the world are New Powell River could use the governments. CMHC. At 34.8 per cent, the town’s “The real vacancy in Fort St. York City’s Fifth Avenue, investment, he noted. A spokeswoman for BC vacancy rate for one-bedroom John is much closer to 35 per cent,” where typical storefronts rent “Our concern is that there Housing said the provincial apartments was the highest in the she said. “The CMHC vacancy for US$3,500 per square foot, might be other options for money is meant “specifically province. rate misses a substantial number and the Causeway in Hong [Sino Bright] outside of Powell for construction and But Doug Scott, a residential real of units,” including any buildings Kong, where retail leases River,” said Yule. “There was renovation costs. Depending estate investor in Dawson Creek, is smaller than eight units, she noted.■ average US$2,735 per square a real feeling that this would on the project, other partners skeptical of CMHC numbers. – Jonny Wakefield, Alaska Highway foot. go through.” may also provide funding.” ■ “In general with CMHC numbers, News
www.sellingmobilehomeparks.com Why invest in Manufactured Home Park???? Immediate and steady cash fl ow. Annual rent increase plus any fl ow thru increases from gov’t entities. Infl ation proof. Attainable housing is always in high demand with almost always full occupancy in quality parks. Very few mobiles are ever moved. Minimal management required. Low maintenance costs. Tenants maintain their own home and lot. Easily operated from a distance. As rents and net income increase, the value of the park increases. Fraser Valley Campground: 17 acres and over 120 sites. New electrical throughout for longer term and larger rvs for a steady cash fl ow year round. Residence/store/offi ce/outdoor pool/games room. Call for details. 7% Return at Asking Price Salmon Arm MHP Great starter park only 7 pads on 1.07 Acres. Asking $385,000 Sales, Management, DOMINIC FUNG Revelstoke MHP 12 pads on 1.48 acres City water. Long term tenants. Asking $375,000 SOLD FIRM Project Marketing [email protected] Clearwater MHP Log/cedar home with 22 pads on 17 plus acres Asking $1,185,000 604604-729-3117-729-3117 Other parks available: 30 pad park in Lower Mainland, 4 parks on Vancouver Island, Interior/Northern BC and Alberta. Thinking of retirement and selling your MHP. Give me a call for an evaluation. With cap rates at an all time low, COMMERCIAL PROPERTIES FOR SALE this is the time to get the highest dollar before caps go higher. I have qualifi ed Buyers waiting. • ABERDEEN SQUARE AT NO. 3 ROAD Marketed by: BILL SUMMERS PREC Mall spaces are for lease, range from $39/S.F. to $55/S.F. Next to direct line: 604.626.8894 email: [email protected] Skytrain Station.
• MOBILE HOME PARK 63071 Flood Hope Rd., Hope - with 31 pads, 2 homes, 4.9 acres ADVERTISE WHERE land and near city centre. Price to sell $1.425 Million INVESTORS ARE LOOKING • BUSINESS FOR SALE Marpole area, BBQ shop around 1235 S.F., low rent, easy to run family business. Priced to sell $128 K
• OCEAN FRONT RETAIL 14985 Marine Dr., White Rock, B.C. with one storey building and 4499 SF. land. Zone CR-3. Potential for Commercial and 604.669.8500 TOLL FREE 1.800.661.6988 Residential Development. Price to sell $3.5 Million WESTERNINVESTOR.COM JANUARY 2017 LOWER MAINLAND | SEA TO SKY/SUNSHINE COAST | VANCOUVER ISLAND | A21
SHAUGHNESSY DEVELOPMENT SITES TODOS SANTOS DEVELOPMENT SITE Turn Key commercial investment ■ We have a large selection of houses on large lots from 740 ACRES - 1 HR NORTH OF in the heart of Oliver, BC 10,000 sqft to 40,000 sqft in 1st Shaughnessy & 2nd CABO SAN LUCAS MEXICO Shaughnessy ranging in price from $4.6M to $33M ■ 740 acres, potential 2000 building lots – • Generous cap rate ■ Call for more info. NDA required. 73% with pacifi c ocean view adjoining Todos Santos • Central location (Fairview Road) ■ Seller interested in a J/V for 25% of project that • Two storey, well maintained building BURNABY DEVELOPMENT SITE will include 2 hotels, 1 beach club & • Strong, long standing tenant mix ■ 2 lots, 7763 & 7777 Kingsway totalling 11,288 sf 1 restaurant NDA required $35M USD w/over 96 feet of frontage on Kingsway. $3.7M CAMBIE & 41ST DEVELOPMENT SITE • Ample parking ■ 426, 408, 392, 372 West 41st Ave, & 5733 Alberta NEW WESTMINSTER DEVELOPMENT SITE Street - rezoning will allow up to 6 - 8 storeys on $1,900,000.00 ■ 915 Twelfth Street, 6542 sf corner lot. Current site. $38M zoning allows for a 4 storey building with potential new zoning allowing 6 storeys. Next door 911 & LANGLEY LAND ASSEMBLY WEST COAST FLOAT 909 Twelfth St may also be available. ■ 21427 83rd Ave, 1.51A lot with 4200 sf home & $1.890M huge garage/storage - Three year existing business with lease ■ LA PAZ MEXICO DEVELOPMENT SITE Currently zoned for SR-2, ppts on west side also renewals available for possible land assembly $3.199M - Growing industry & business with 2 fl oat ■ 71 Acre development site overlooking pods & 1 fl oat cabin Downtown La Paz and Costa Baja Marina GIBSONS DEVELOPMENT SITE - Additional Wellness and Treatment rooms www.6717000.com/lapaz $4M USD ■ 895 Gibsons Way, Cedars in Hotel and Convention - Over 1,600 sq.ft, Whistler Village location Centre on a 62,000 sf lot with great visibility ■ SQUAMISH DEVELOPMENT SITE 909 Gibsons Way, Gibsons Cinema sits on a - Ample store frontage with custom leasehold ■ 166 Acres, in 2 phases, 10 mins North of Squamish 30,000 sf lot improvements ■ Great development opportunity with surrounding ■ Phase one (Lower Lands) 104 acres, approved ppty’s also available for possible land assembly, for 82 lots. Project has an equestrian theme. OFFERED at $125,000 only a 7 minute drive from the Langdale ferry www.6717000.com/squamish $16M terminal on the Sunshine Coast. $7.5M DAVE BEATTIE LES TWAROG (604) 671-7000 PERSONAL REAL ESTATE CORPORATION 1428 W 7th Ave. Vancouver, B.C. 604.905.885 1-888-689-0070 To view listings please visit: [email protected] CrestCre Realty `Your Whistler/Pemberton Connection’ (Westside)(W WWW.6717000.com/biz
Feature Business Feature Commercial/Office Feature Industrial Property BUSINESS OPPORTUNITIES
Family-Style Motel 1825 Bowen Road Greenrock Industrial Park Cabinetry Business, Port McNeill $395,000 Includes Land and Buildings
2 UNITS LEFT U-Vin Wine Kits & Supplies $189,000 Nanaimo
Long-Established Flower Shop $800,000 Includes Land and Building Opportunity to purchase this 41 bed Opportunity to purchase this 41 bed Moving/Storage Business $2,495,000 Wellmotel established, room situated 9-unit onmotel 2 acres. in motel room situated on 2 acres. Includes Land and Buildings Position your business in this new excellentSeparate central 3 bedroom location; owners many suite.recent NewSeparate premium 3 bedroom strata office owners and suite.retail Art Framing & Sales Business $229,000 upgrades. Includes land, building & complex in central Nanaimo. industrial development in central Nanaimo $3,400,000 $3,400,000 business. Ideal for owner/operator! Units range from 1,388 to 3,157 sq ft. Nanaimo. 1 acre lots available. Door Manufacturing Business $210,000 ONLY LOT 9 STILL AVAILABLE! Nanaimo Nanaimo l $978,000 For Sale or For Lease APPROX. 1.3 ACRES | $649,000 INDUSTRIAL
600 Hellesen Drive, Tofino 2350 Delinea Place, Nanaimo Prime Commercial Strata Unit INVESTMENT 9.6 acres Subdividable Land $2,945,000 Nanaimo
Light Industrial Strata Unit $429,000 Nanaimo
Excellent investment opportunity. Prime lease space, 16,000 of light INVESTMENT Turnkey, well established business. industrial space. Comprised of a 6 acres near Hilliers $998,000 Rare Opportunity in popular tourist Opportunity to lease or purchase High Premium financial performer! warehouse, 6 offices, showroom etc. Qualicum destination, this 10 acre property has Tech industrial zoned strata lot with Highly visible corner location with approx.$1,965,000 400 feet of oceanfront; zoned approx.For Lease 11,890 | $9.25 SF modern per sq office/ ample parking and long-term bank DEVELOPMENT OPPORTUNITIES Tourist Commercial. warehouse building in central tenant in place. For Sale | $4,250,000 Nanaimo. For Sale or For Lease Comox | $1,495,000 Approx. 101 acres Oceanfront $2,995,000 Includes approx. 35 acre foreshore Informa on contained herein has been obtained from the owners or sources deemed reliable by NAI Commercial Central Vancouver Island Ltd. While we have no reason to lease; multi-zoned RU20 & IM, doubt its accuracy, we regret we cannot guarantee such informa on. All measurements and other informa on herein should be independently verified by the reader or subdivision potential. Union Bay, BC prospec ve user and is subject to the user’s own inspec on of the premises and due diligence work and to the user’s sa sfac on with the results of such review. A22 | SEA TO SKY/SUNSHINE COAST | VANCOUVER ISLAND WESTERNINVESTOR.COM | JANUARY 2017
DONE DEALS | OUR READERS REPORT ON COMMERCIAL REAL ESTATE
983-square-foot retail unit in new low-rise development, The Heights, Burnaby, sold for $787,000. | WILLIAM WRIGHT COMMERCIAL
1.16 acres zoned for 106 multi- 5,286-square-foot office building, family units and commercial space, previously a Royal Canadian Penticton, sold for $1.9 million. Legion, Langley, sold for $1.52 Aging retail block on 7 Avenue SW, Calgary, sold for $12.27 million. | SUBMITTED | RE/MAX COMMERCIAL million. | NAI COMMERCIAL
FROM | William Wright Commercial. DEAL | More than three acres TRIOVEST RESCUES CITY BLOCK IN CALGARY William Wright agent Marianne of heavy industrial land with a Decotiis sold the following: 3,105-square-foot renovated build- Plans to turn derelict strip into “cool enclave” for shoppers and residents DEAL | 1,837-square-foot strata ing. Chemainus, North Cowichan. office unit, Lonsdale, North Van- Price: $1 million. couver. Price: $825,000. Frontline agent Kyle Dodman sold riovest Capital has purchased a Current tenants include a pawnshop, a restaurant William Wright agent Cory Wright the following: derelict retail strip on Calgary’s 7 and a low-cost clothing store. reports the following sale: DEAL | Two properties, totalling TAvenue SW and plans to transform it “We believe that there’s potential to do some- DEAL | 983-square-foot retail unit two acres of industrial-zoned land. into a trendy retail destination downtown. thing very interesting,” said Tim Blair, executive sold in yet-to-be constructed Verdi Campbell Heights, Surrey. Price: Triovest, a well-established Calgary developer, vice-president of Triovest. He said the company “is low-rise development. The Heights $2.96 million. paid $12.27 million for the 19,474-square-foot looking forward to transforming these properties district, Burnaby. Price: $787,000. site, buying it via a judicial sale through D.C. & into a hip, cool enclave.” FROM | NAI Commercial. NAI Associates Realty, Calgary. The purchase underscores confidence in FROM | Frontline Real Estate Servi- agents Chris Langhaug and Ted The property is now home to a line of old retail Calgary’s retail investment, which tallied $315 ces Ltd. Frontline agent Todd Bohn Weibelzahl report the following: buildings between Centre Street and Front Street. million in sales by the third quarter of 2016. ■ reports the following: DEAL | Two-storey, 5,286-square-
POWELL RIVER SUNSHINE COAST OPPORTUNITIES Home Inspection – Victoria OPPORTUNITIES ONE-O-ONE OFFICE SUPPLY LTD Successful, ready made business in Victoria, Vancouver Island, oper- ating over 20 years with established clientele, website, and reputa- $299,000 tion. Operation includes a customized international digital reporting Well established offi ce supply business in system that’s quick and easy plus a simple to use but comprehensive downtown main street location in Sechelt. Large Microsoft data base, designed for sales analysis, invoicing, record clientele with exceptional gross sales. keeping and minimum bookkeeping. This business offers consistent substantial revenue with proven track record even in slower mar- Full Service Independent Grocery Store SECHELT RESTAURANT kets. So much potential to grow. Great fi nancials. Training available. Owner retiring after 30+ years in this family business! This is an independent company, not a franchise. Secure your future. Established loyal clientele, excellent reputation. Lower DOWNTOWN - TRAIL BAY MALL Call today. Bruce Scott 250-888-0080 level houses Home Furniture dealership. Building is 14,800 sq ft total on 1 acre with paved customer $40,000 parking & separate staff parking. Call for all the details Well established restaurant, 50 seats plus after on this fi rst time offering! $1,200,000 + stock. hrs. take-out with secondary access. High visual Price includes land, building & equipment. presents, foot traffi c, lots of mall parking. LEASE SPACES AVAILABLE #3 – 4296 Joyce Ave 1627 sqft AUTOBODY BUSINESS - $200,000 retail/restaurant $14/sqft Well established auto body business in a prime #4 – 4296 Joyce Ave 5000 sqft downtown location, across from a Ford Dealer- retail $12/sqft ship and other like businesses. Express valet Call or email for more details. certifi ed with ICBC, all equipment included in the sale. Building may be purchased separately.
BE THE BOSS - $75,000 WESTON BAKERY DISTRIBUTORSHIP for the WESTERNINVESTOR.COM whole Sunhine Coast. Includes dedicated sales Get informed before you invest territory, 5 ton truck, portable computer & printer for orders and invoices. Long time established. • Exclusive details on The Brackett Group, Terry & Pam Brackett Western Canada’s Done Deals INDEPENDENTLY OWNED AND OPERATED REMAX Oceanview Realty, Sechelt, BC • Get the inside scoop with 1-800-895-4313 Toll Free expanded coverage of 604-989-9865 Cell [email protected] sold properties [email protected] JANUARY 2017 | WESTERNINVESTOR.COM VANCOUVER ISLAND | A23
DEALS ACROSS WESTERN CANADA DONE DEALS | Our monthly feature highlights some of the major real estate transactions across Western Canada’s vibrant commercial real estate market
foot office building, previously the DEAL | 35,000-square-foot, fully- 35,000-square-foot, fully leased office building, 1,084 acres, with industrial lease, Penticton, site of the Royal Canadian Legion leased, five-storey office building | RE/MAX COMMERCIAL Wallace Street, downtown Nanaimo, sold for sold for $2.26 million. Branch 21, 56 Avenue, Langley. sold for $3 million above assessed | COLLIERS INTERNATIONAL $8.05 million. Price: $1.52 million. value. Wallace Street, downtown NAI Commercial agent Rick Lui sold Nanaimo. Price: $8.05 million. the following: Colliers brokers Brad Archibald, DEAL | Free-standing banquet hall Brad Bailey and Jason Winton on 11,000 square feet of indus- report the following sale: trial-zoned land. Marine Drive, DEAL | 10 acres slated for residen- Vancouver. Price: $5.25 million. tial development. Parksville, Van- NAI Commercial agent Conor couver Island. Price: $3.67 million. Finucane reports the following sale: FROM | Re/Max Commercial, DEAL | Two recently improved retail Penticton. Re/Max agents Keith units, total of 2,082 square feet, Jakes and John Green sold the near Langara College, purchased following: by an undisclosed buyer from the DEAL | 1.16 acres zoned with seller, 2M2N Properties Ltd. Main approvals for 106 multi-family 15.5-acre orchard on Similkameen River, 10 acres of land, slated for residential Street, Vancouver. Price: $1.02 units and 10,000 square-feet of Keremeos, sold for $824,000. | RE/MAX COMMERCIAL development, Parksville, sold for $3.67 million. million. commercial, on Skaha Lake Road, | COLLIERS INTERNATIONAL NAI Commercial agent Jon Meder Penticton. Price: $1.9 million. sold the following: DEAL | 1,084 acres, includes 20- DEAL | Free-standing warehouse year triple-net industrial lease, building with office suite on clean site, with 6 per cent capital- 5,107-square-foot lot, near Braid ization rate, Carmi Avenue, Pentic- SkyTrain station, Rousseau Street, ton. Price: $2.26 million. New Westminster. Price: $1.82 DEAL | 15.5-acre orchard on million. Similkameen River with residence and a rental house, includes large FROM | Colliers International, shop and equipment, River Road, Nanaimo: Keremeos. Price: $824,000. ■ DEAL | 19-unit rental apartment complex on more than two acres, RECENTLY COMPLETED A MAJOR Bruce Avenue, Nanaimo. Price: COMMERCIAL REAL ESTATE DEAL? Two acres of industrial-zoned land, Campbell 1,837-square-foot office strata, Lonsdale, North $2.35 million. SEND DETAILS FOR A FREE LISTING Heights, Surrey, sold for $2.96 million. Vancouver, sold for $825,000. Colliers agents Brad Bailey and IN DONE DEALS. | FRONTLINE REAL ESTATE SERVICES | WILLIAM WRIGHT COMMERCIAL Jason Winton report: SEE WWW.WESTERNINVESTOR.COM
QUADRA ISLAND Real Estate Business Opportunity! Discovery Islands -D\&RXVLQV MD\FRXVLQVUHDOW\ Realty Ltd. $Q,QGHSHQGHQW0HPEHU%URNHU 675 Heriot Bay Rd, Quathiaski Cove www.direalty.ca 3+7)(MD\#MD\FRXVLQVFRP:MD\FRXVLQVFRP REALTORS... THINK OF RELOCATING! )($785(3523(57,(6 9$1&289(5,6/$1'&200(5&,$/,19(670(1723325781,7,(6 Small, independent and thriving ® 6(1,25&$5()$&,/,7<1$1$,02 632576)$&,/,7<21$&5(3523(57< &200(5&,$/,19(670(173523(57< real estate co. for sale. Currently 2 Realtors & 1 Assistant, serving Quadra & Cortes &XUUHQW$SSUDLVDODW0=RQHG&RPPHUFLDO :HVWZRRG7HQQLV&OXE %LVWUR/DNH)URQW/RFDOH 5HQRYDWHG%XLOGLQJRQ6)/RW&HQWUDO1DQDLPR &HQWUH9DULHW\RI3HUPLWWHG8VHV ,QGRRU 2XWGRRU&RXUWV &25=RQLQJ)RUPHU5HVWDXUDQW Islands for the past 28 years. Find out more... +LJKZD\([SRVXUH/RWVRI3DUNLQJ &ORVHWR1DQDLPR*HQ+RVSLWDO 5HQWDO6XLWHV'HY2SV([LVW email [email protected] or 48$/,7<&200(5&,$/3523(57< /,*+7,1'8675,$/$&5($*(1($5$,53257 675$7$5(7$,/2)),&(63$&(3$5.69,//(6287+1$1$,02,19(670(173523(57< phone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obile Home Park for sale 75 & 77 Commercial St, 7HQDQWVLQFO$XWR5HSDLU%RG\6KRS+DLU6DORQ &KHPDLQXVORFDWLRQIRUPHU5HVWDXUDQWRQPDLQ &DPSEHOO5LYHU Central Vancouver Island Nanaimo OHYHOZLWKEHGEDWKVXLWHXS 0LQL6WRUDJH'XSOH[$FUHV 5LFN\ªV)DPLO\5HVWDXUDQW 55+ MHP offering 3000+ sq.ft. beautifully 5RRPIRU)XWXUH([SDQVLRQ $OO(TXLSPHQWLQFOXGHGLQSULFH &RXUWHQD\ a 7.2% CAP rate. maintained commercial building. 7LQ7LQ0DUNHW6RXWK1DQDLPR +RZDUG-RKQVRQ0RWHO3RUW$OEHUQL 2&($19,(:027(/1257+2)9,&725,$ 1$1$,02,'($/'2:172:1,19(670(17 WK %UXFH6WUHHW Easily managed with Anchor tenant w/potential 8QLW0RWHO 6XLWHVZ6HSDUDWH5HVLGHQFH /RQJ7HUP7HQDQWZ
7300 Vedder Rd. BOB PLOWRIGHT CHILLIWACK, BC [email protected] REALTY 1-800-830-7175 www.bobplowright.com 604-858-7179
FOR SALE IN CHILLIWACK FOR LEASE IN CHILLIWACK BUSINESS WITH PROPERTY IN HOPE, BC PROFESSIONAL OFFICE SPACE Fantastic opportunity to own and x1,090 sq. ft. unit x x1 blk from CHWK General Hospital operate the very successful Bee¶s Food xIdeal for doctors, dentists, medical Market on main street of Hope. services, accountants & lawyers xPlenty of onsite and street parking xWalking distance to schools, xGround floor unit with outside entrance
recreation and residential areas LEASE for $15/SQ. FT. TN xIncludes: business, commercial building, a 3 bed residential suite, fully LIGHT INDUSTRIAL SPACE fenced yard & loading area with room x4,491 s. f. Retail/Office/Warehouse to expand. space xNew state of the art light industrial xProperty in excellent condition and building offers, office, retail & warehouse well maintained xBuilding has heavy power, security SALE: $829,900 system & cameras xSeller will train new owner FOR SALE $1,250,0000 or PROFITABLE BUSINESS FOR SALE LEASE $4,500/MONTH TN RETAIL/OFFICE SPACE (3 UNITS) Well run and profitable Form Rental x Staples Business Centre business x 723 s. f. full retail space Specializing in concrete forms, x x 1,000 s. f. professional office space providing services for Strip Easy x 4,226 s. f. formerly a community college, Forming, Form Panels, Rebar Cut- x with all leaseholds remaining, use as is or ting & Bending and crane service. owner will change Annual sales of +/- 1.9 million year x Location for success end 2016, with net return in the 18% x range before tax LEASE $12 to $21/SQ. FT. TN
xEquipment & inventory valued in SALE excess of 1.2 Million RETAILSPACE HIGH PROFILE RETAIL xThis business is well situated for x 3,700 sq. ft. retail space x 1,490 sq. ft. retail space continued growth FORMS $2,300,000 xExcellent exposure, close xExcellent exposure, close to malls to Cottonwood Mall 1 BLK FROM HOSPITAL INDUSTRIAL DEVELOPMENT LOT xPlenty of parking, good xVisible from HWY 1
tenant mix xQuick possession avail.
xQuick possession avail. xPlenty of onsite parking 1.225 ACRE LEASE LEASE FOR SALE SALE $15.00/SQ. FT. TN xOnsite parking $13.00/SQ. FT. TN INDUSTRIAL $389,900 DEVELOPMENT LOT $795,000 HIGH PROFILE RETAIL RETAIL/OFFICE SPACE xCascade Centre on busy road xPrime retail space with high xDirect access from both Yale xLocation location, less than 1 blk from Chilliwack One of very few remaining industrial development exposure and with some of x and First Ave. General Hospital lots available in Chilliwack the highest traffic counts in xPlenty of onsite parking xZoned R7 ³Residential Special Service´suitable for xAdjacent to HWY 1 with convenient access to the Chilliwack area xIdeal for retail, doctors,
a combination of medical related & personal service xUp to 4,280 sf retail space on Chilliwack, Abbotsford & close proximity to Sumas dentist, lawyers, accountants lower floor xPresently used as a Doctor¶s office US Border Crossing LEASE FROM etc. LEASE FROM 7,750 sq. ft. lot x540 to 5,364 office 2nd floor x xIndustrial zoning allows for a wide range of uses $11.00/SQ. FT. TN x800 sq. ft. to 1,728 sq.ft. $4.00/SQ. FT. TN xATTN: Medical Professionals/Investors and permits outside storage
LIGHT INDUSTRIAL PROPERTY INVESTMENT PROPERTY RETAIL SPACE IN AGASSIZ HIGH PROFILE RETAIL x2,800 sq. ft. of retail x1,720 sq. ft. space
space xLocated in densely SALE SALE xLocated on NO. 9 HWY populated East Chilliwack a short distance to Chilli- xIdeal for: doctors, dentists, $269,900 $949,900 wack and Harrison Hot walk-in clinic, pharmacy, LEASE Springs LEASE retail etc. $11.00/SQ. FT. TN $10.00/SQ. FT. TN xOnsite parking xOne of a kind M1 Zoned Light Industrial, ideal for xHigh profile building constructed in 2005
warehousing, light manufacturing, service industrial, xLocated on busy corner of Agassiz HIGH PROFILE RETAIL ~ BUY OR LEASE office and sales xOn site, street and City parking lot x11,410 sq. ft lot with 594 sq. ft. existing building Leased to 3 Tenants, current net income offers a x xLease from 1,400 to 5,866 sf xProperty offers 2 road frontages and allows for easy 6.75% CAP rate on the asking price x2 Strata Buildings from 5,802 to 5,866 s.f. flow of trucks and merchandize through property x Operational expenses are low xLocated on busy main road, high visibility xFully fenced yard for truck parking and storage xEasily managed by Owner Investor xWide range of options MEDICAL BUILDING STRATA UNITS xOne of a kind xIdeal location for a medical SALE FROM $1,279,000 ~ LEASE FROM $9.75/SQ.FT. related business x3 blks from Chilliwack General OFFICE/RETAIL SPACE FOR LEASE Hospital xBldg has a pharmacy, elevator & onsite parking xUnit 301 - 721 sq. ft., xUnit 403 - 1,483 sq. ft.
xUnit 201 - 3,067 sq. ft. 3 Units for Sale from 45789 44703 Yale Subject Property Unit 201 $59,900 to $249,900 5960 Tyson Rd. Spadina 44698 Chalmer x.5 acre to 1 acre RAY YENKANA S SPACE x1464 to 2,079 s. ft. office x806 s.f. retail/office Ray Yenkana ¶ 800-668-8661 xHigh profile indus- CCIM, ABR. REMAX LITTLE OAK space - 2nd floor xLocated on high traffic corner lot trial land [email protected] | www.rayyenkana.com (listing details) xGrowing family area Lease for Lease from $4,000 to $8,000/mon.TN Lease from $8 to $9/s. f. TN $9.50/s. f. TN TAKING LISTINGS FOR QUALIFIED INVESTORS. If you have a positive cash flow property, let’s chat. I have qualified buyers for land and commercial properties with revenue.
EXCLUSIVE HOTEL LISTING IN NORTHERN B.C. 46167 Yale Rd. 45965 Alexander x612 to 2289 s. f. office x1,240 to 2,058 sq. ft.
x860 to 1,500 s. f. retail xPrime retail space COMING IN THE NEW YEAR: Light industrial building for storage in xOnsite parking Abbotsford, and a building lot. xDowntown location Lease from $9.50 to $10/s. f. Lease from $10.00 s. f. TN 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.
For Sale Strata Retail Storage Opportunity 112 Nanaimo Street High Exposure Near SkyTrain Salt Spring Island, BC Vancouver, BC New Westminster, BC 196 units (16,238 sf rentable) 14-unit apartment building New corner retail strata unit with 1.95 acres Owned by original builder side courtyard. 8% cap rate Underground parking, wrap- 671 sf with 12 ft ceilings Asking: $3,095,000 around balconies, third-floor views 42 ft multi-window frontage Asking: $5,600,000 Asking: $366,000 Western Canada’s Self-Storage Expert: Brandon Harding* Don Ellis, RI Ken Kiers* 604 691 6630 604-691-6668 604-209-2222 [email protected] [email protected] [email protected]
For Sale For Sale Development Site Warehouse with Yard 19.83-Acre Industrial Site 53 Acres Langley, BC Kamloops, BC Merritt, BC Freestanding warehouse, 9,399 sf Large industrial site in Kamloops 53 Acres zoned R-3, R-2 + FD Professionally finished office/ Subdivision potential Services at street showroom All services nearby. Ready to go. Pot. Modular Home Dev Seller is willing to lease back Seller may consider trades SF & Estate View Lots Asking: $1,590,000 Asking: $5,950,000 Asking: $1,690,000 Gary Niesner Chris Langhaug Chris Langhaug 604-514-6832 604-240-6224 604-240-6224 [email protected] [email protected] [email protected]
For Sale Development Site For Sale Development Lot Seventh Street & Fourth Avenue Sooke Harbour House Langley, BC Uptown New Westminster, BC 1528 Whiffin Spit Rd, Sooke, BC 1.13 acres, serviced 2 lots totalling 13,000 sf (with Two-storey, 28-room, waterfront C2 zoned for retail & multi-family ability to acquire additional lots) boutique hotel & full-service Clean environmental Current zoning allows max 5.2 FSR restaurant Asking: $3,200,000 OCP may increase res. density 2.55 acres, commercial zoned Asking: Contact Agents Asking: $6,500,000 $4,995,000 Don MacDonald, CCIM Conor Finucane & Marc Soo Gary Haukeland & J-D Murray 604-514-6824 [email protected] [email protected] [email protected] [email protected] [email protected]
*All asterisks indicate Personal Real Estate Corporation WHERE INVESTORS ARE LOOKING
MARKETING COMMERCIAL REAL ESTATE IN WESTERN CANADA
2016 Media Kit www.westerninvestor.com/images/stories/advertising/mediakit.pdf COMMERCIAL REAL ESTATE | FRANCHISES | BUSINESS OPPORTUNITIES $4.29 • JANUARY 2017 • VOL32/1
= JORDEN DAWSON COMMERCIAL CONDOS CRE OUTLOOK |8 TAKE HOLD IN CONFIDENCE ON CALGARY THE PRAIRIES Alberta cities are setting OWNING BEATS LEASING| 6 the stage for what could be surprising real estate performance in 2017
O I L I N D U S T R Y | 1 0 NEW PIPELINES APPLAUDED Two lines will link Alberta oil to U.S. tideline and generate an estimated 38,000 jobs, experts say
CONTENTS Full index 3 The Numbers 4 Commercial condos 6 CRE outlook 2017 8 Alberta report 10 Brandon bullish 14 Sask.-Man. report 15
PUBLICATIONS MAIL AGREEMENT 40069240 0 1 0 6 0 3 5 8 1 8 2 9 1 9
Read online at www.westerninvestor.com B2 | INTERIOR BRITISH COLUMBIA WESTERNINVESTOR.COM | JANUARY 2017
Lac la Hache - Clancy’s Roadhouse and Fas Gas is FOR SALE! AAstoundingstounding bbusinessusiness oopportunity!!pportunity!! This is a multi-use commercial development on 3.84 acres (1,248 feet of highway frontage), with Purchase this established, profi table beautiful lake views. Sale includes newly built and highly successful health and (2013) Clancy’s Restaurant Pub, convenience fi tness business and be your own store, residence and gas bar. The main building boss. Fitness West has been built has a total of 12,654 sq.ft.; comprised of 5564 from the ground up over 20 years to sq.ft. main floor + full basement and 1526 sq.ft. become one of the most successful second floor residence. This unique opportunity has tons of potential! gyms in the interior of BC and now Sold as is – where is we offer you the opportunity to $1,600,000 continue this success and lead the lifestyle of your dreams. Don Kehler Personal Real Estate Corporation $899,000 Business only Powerhouse Realty – Commercial/Industrial Division Call John Kristian PREC Office 250-563-1000 Cell 250-613-9553 teampowerhouse.com [email protected] Re/Max Vernon 250-549-4161 [email protected]
OKANAGAN – B.C. INTERIOR MOVE TO KAMLOOPS! INVESTMENT OPPORTUNITIES GREAT BUILDINGS AT AFFORDABLE RATES.
MOBILE HOME PARKS West Kelowna - New Listing Chase, BC FOR LEASE • 110 Sites on 20.9 Acres • 29 Sites on 5.07 Acres • Native Lease land • Town sewer & water • Community Water • Adult oriented • Full occupancy • Full Occupancy • May have room for 1-2 more sites • Net Income +/- $280,000 • Beautiful, Easy to Manage Park • Price $2,195,000 • Price $1,900,000
OSOYOOS - PRIME DEVELOPMENT SITE CLOSE TO LAKE ● 2.13 Level Acres only 250+/-Ft. from Osoyoos Lake ● Corner Site - Frontage on 3 Roads 535 546 St. ● Zoning allows variety of Tourist Commercial uses Tranquille Rd. Paul Street ● OCP allows Commercial Residential Multi Family ● Subdividable into 10+/-Lots Asking Price $950,000 Bright offi ce space ready to go. 1105- Professionally managed building with GRAND FORKS - COMMERCIAL LOT 3577 sqft. Easy for clients to fi nd on updated common areas. Professional and medical offi ces set up and ready to ● 2.0 Acre Level Site ● Zoned for Single Family or Duplex Lots busy Tranquille Rd. Good for technology, move in to or design your own space. ● Engineering Done for 9 Lot Subdivision ● Price $299,000 studio, professional or medical offi ce. LEASE RATE $12-$14/sf plus operating LEASE RATE - $7/sf plus operating costs. VADIM KOBASEW costs. Tenant incentives available. C OMMERCIAL REAL ESTATE SPECIALIST TANYA COKRAN MONA MURRAY 250-492-2266 / 1-800-567-6770 Dip. ULE, RI(BC) CPM RE/MAX PENTICTON REALTY, PENTICTON, BC Accelerating success.
4111 Evans Rd Lake Country 4600 29th Street Vernon 3200 25th Avenue Vernon 8960 Grigg Road Kelowna WATERFRONT DEVELOPMENT ACREAGE INCOME PRODUCING NEW LISTING 6.65 acre industrial property in North Kelowna. Currently being subdivided into 3 parcels, all services at lot line, zoned I3 - Heavy Industrial $4,315,000 165 Okanagan Ave E Penticton Spectacular 5.5 acre waterfront property Excellent investment opportunity! Two High profile redevelopment site at the REDUCED: 15,200 SF stand-alone industrial with approx. 350 ft of frontage on Kalamalka fully tenanted, income producing industrial corner of 25th Ave and Highway 97 in building on .806 acres. Two tenants with Lake. Zoned C9, redevelop or private estate. buildings on .74 acres with 10,720 GLA. Vernon. Over .5 acres zoned C5. leases in place. 8.3% CAP on full lease up. $6,995,000 Chad Biafore* $1,100,000 Chris Wills* $975,000 Peter Taillon $1,399,000 Stewart Dunbar
10660 Highway 97 Lake Country 1649 Cary Rd Kelowna 1975 Shannon Lake Rd W. Kelowna Westview Way West Kelowna NEW ZONING IN PLACE 6.2% CAP REDUCED: 17.54 acres of development land in West Kelowna. Proposed 31 single family lot residential development. Zoned R1L. $1,950,000 3600 Carrington Rd West Kelowna 26 acre residential development site, 6 Sale/Leaseback of industrial/commercial 6.82 acre high density residential site in 3.16 acre mixed-use development site in acres of RM2 and 20 acres of RU1. Views of bldg & lot. Successful company will sign up Shannon Lake, suited for duplex, apartment central West Kelowna. Highly visible hwy Wood Lake and the Okanagan Valley. to a 10 year leaseback + renewal options. or townhouse development. Zoned R3. commercial location. Jack Shabbits $4,950,000 Murray Wills* $2,300,000 Eric Weber* $2,950,000 Robert Gauley $2,750,000 Chad Biafore* Kelowna +1 250 763 2300 | Kamloops +1 250 372 7000 | www.collierscanada.com *Personal Real Estate Corporation. INTERIOR B.C. | ALBERTA | SASKATCHEWAN | MANITOBA
Contents | JANUARY 2017
FEATURES FEATURES CRE PRAIRIE OUTLOOK 2017 8 The Numbers 4 Developers flash Our monthly snap stats on the numbers that matter confidence with a Alberta report 10 series of new mixed- use projects, despite B.C. developers lead charge into 2017 consistent headwinds “Forgotten” mall makeover 15 Northgate’s $20M facelift in Winnipeg BRANDON, WINNIPEG UPLIFT 14 Manitoba’s two biggest cities share a fast track into the new year, fuelled by infrastructure spending, stable demand ADVERTISING DIRECTORY REGINA INDUSTRIAL TILTS UP 15 Interior B.C. 2-6 Vacancy rate eases to Northern B.C. 6-8 2.8 per cent but older Alberta 9-12 properties face pressure Saskatchewan/Manitoba 12-15 because of expanding inventory of new space MORE OPPORTUNITIES SECTION A Lower Mainland, B.C. and Vancouver Island COVER FEATURE Jorden Dawson of Beedie Development is helping merge commercial condos into Calgary’s mainstream l JESSI GOWAN 6
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 www.BCMotelsForSale.com www.SyberRealty.com www.BCResortsForSale.com Happy New Year
Southern BC Ramada Southern BC Motel Kamloops / Westyde Northern BC Motel • 54 Units 3 Hours from Vancouver • 34 Units in Grand Forks BC • 2 Liquor Stores, 1 Pub and Lease Space - Seller May • 51 Units In Chetwynd • Excellent Business. Near Restaurants, etc. • Excellent Condition with many Recent Upgrades Buy Back the Pub and Lease • Solid Building and Condition • 2 – Separate Properties in Same Area • Pool & Waterslide, New Roofs and Bathroom Reno’s • 12 Years Same Owner wants to Retire! • Amazing Cash Flows, Not a lot of Competition • Excellent Location, Close to Several Restaurants • 3 Bdrm Managers Suite & 2 Other Suites • 3-4 Bedroom Family Sized Living Space • Excellent Interior City! Do not MissThis! • Great Value for Hands on Operator! $4,500,000 – Call Larry $1,498,000 $5,495,000 – Call Larry OFFERS! $ 1,200,000 – Call Larry D ED CE UC DU ED RREDUCEDE RREDUCED
RV Park / Campground Profi table Kennel - Oliver BC Prince George Motel Excellent Business in Lillooet • 99 Sites – 49 Full Service & 58 Pull-throughs • Purpose Built on 3 Acres in 2008/09 • Located Near Downtown Core • Excellent Profi table Liquor Store • 2 Bedroom Home with a 2 Bedroom Suite • Two Houses; One Built 2013/14 • 30 Well Maintained Units • Boutique Hotel with 10 Comfortable Rooms • Great Washrooms, Swimming Pool and Shop • Operating at Full Capacity; Room to Expand • Sales are Solid and Consistent • Leased Restaurant! Small Pub • Located on Highway 1 in Cache Creek • Tremendous Family Business • Simple Operation, Easy to Manage! • This is a very solid business! Asking $1,249,000 $1,174,000– Call Larry Asking $1,595,000 – Call Ron Asking $1,290,000 – Call Larry $2,500,000 $2,249,000 - Call Ron
Highway 16 Vanderhoof North Okanagan Car Wash Trans Canada Highway Excellent Motel Business! • Very Successful + Profi table 14 Unit Motel • Only Car Wash in Enderby – Built 2000 • 8 Unit Motel and 12 RV / Camping Sites • 18 Very Well Kept Units Near Jasper • Only 2 Owners Last 40 Years • 3 Interior Bays + 1 Exterior • Excellent Location in The Shuswap / Sorrento • Family Sized 4 Bedroom Home • Roof and Bathrooms Redone 2012 • Excess Land for your Ideas! • 4 Bedroom, 2 Bathroom Home • Strong Consistent Income • Excellent 3 Bedroom Home • Nice 2 Bedroom Suite on Second Floor • Excellent Seasonal Business! Same owners 24 yrs. • Great Area to Raise a Family Asking $789,000 - Call Ron Asking $1,295,000 - Call Larry Asking $929,000 – Call Larry $1,098,000 – Call Ron MEMBER of the Canadian I.C. & I Council 250-862-8100 Ron Palmer Larry Berisoff KELOWNA www.syberrealty.com [email protected] Agent / Broker [email protected] B4 | INTERIOR BRITISH COLUMBIA WESTERNINVESTOR.COM | JANUARY 2017
LEADING TRENDS | Our monthly THE NUMBERS BANK OF CANADA snap stats showing leading trends 0.5% OVERNIGHT affecting western real estate LENDING RATE he national office vacancy rate has risen over the past year, despite a Ttightening Vancouver market. The contrast between Vancouver and that of DOWNTOWN OFFICE MARKET VACANCIES UNEMPLOYMENT RATE other major cities in Western Canada is ex- pected to continue into 2017. Jan. 2016 Issue Jan. 2017 Jan. 2016 issue Jan. 2017 According to Jones Lang LaSalle (JLL), Vancouver 9.9% 6.9% the national rise can be attributed to two Calgary 13.9% 22.6% B.C. 6.2% 6.2% main factors: an increase in new supply, Edmonton 9.7% 13.3% Alberta 6.6% 8.5% and Calgary’s extreme economic downturn. Regina 11.1% 10.8% Saskatchewan 5.5% 6.9% As other markets report an increase in Saskatoon 14.8% 15% Manitoba 6.1% 6.4% vacancy, downtown Vancouver’s rate has Winnipeg 9.7% 8.5% SOURCE: STATISTICS CANADA: UNEMPLOYMENT, decreased due to a burgeoning technology JAN. 2016 SOURCE: COLLIERS INTERNATIONAL, Q3, 2015 OCTOBER 2015 VS OCTOBER 2016 sector and a limited amount of small office JAN. 2017 SOURCES: COLLIERS INTERNATIONAL, CBRE, ICR Q3 2016 *DOWNTOWN VACANCY RATE space. On the other end of the spectrum, Calgary’s downtown vacancy rate increased nearly 10 per cent from the previous year, as TOTAL MONTHLY RETAIL SALES APARTMENT RENTAL VACANCIES MLS HOME PRICES (all types combined)* supply continues to overpower the tepid-at- Jan. 2016 Issue Jan. 2017 Jan. 2016 Issue Jan. 2017 best demand. Jan. 2016 Issue Jan. 2017 Vancouver 0.8% 0.7% Vancouver $752,500 $919,300 “The outlook in the Prairies and in energy B.C. $ 5 . 9 6 B $6.3B Calgary 5.3% 7.0% Calgary $510,700 $434,800 related industries remains unclear and it Alberta $ 6 . 3 0 B $6.1B Edmonton 4.2% 7.1% Edmonton $350,700 $368,156 [may] take several years for the office market Saskatchewan $1.55B $1.5B Regina 5.3% 5.5% Regina $322,000 $291,800 in Calgary to balance,” noted the latest JLL Manitoba $1.55B $1.6B Saskatoon 6.5% 10.3% Saskatoon $349,000 $303,400 Office Market Overview report. Winnipeg 2.9% 2.8% Winnipeg $274,000 $285,231 The report considered the Canadian JAN. 2016 SOURCE: STATISTICS CANADA, SEPTEMBER 2015 * ALL TYPES OF HOMES COMPOSITE PRICE/METRO REGION office market to be “tenant favourable,” JAN. 2017 SOURCE: SOURCE: CANADA MORTGAGE AND HOUSING CORP., RENTAL JAN. 2016 SOURCE: CREA, LOCAL REAL ESTATE BOARDS AND ASSOCIATIONS AS OF NOV. 2015 through 2016, and it will likely remain that STATISTICS CANADA, SEPTEMBER 2016 MARKET REPORT OCT. 2015 AND OCT. 2016 JAN. 2017 SOURCE: CREA, LOCAL REAL ESTATE BOARDS AND ASSOCIATIONS AS OF OCTOBER 2016 way in 2017. Landlords in slow markets have been forced to lower rents and offer Edmonton tenant incentives in order to stimulate rental INDUSTRIAL VACANCY RATE+ THE OFFICE VACANCY GAP growth. Despite an uptick in leasing activity Downtown Third Quarter 2015 Third Quarter 2016 in major towers such as Scotia Centre in JAN. 2017 ISSUE Jan 2016 Calgary, soft market conditions are projected Vancouver 2.4% 1.6% 24% 22.6% to continue. Calgary 5.9% 7.2% According to CBRE, some major Canadian Edmonton 4.1% 6.3% markets, such as downtown Vancouver and Regina 2.9% 2.8% 18% Toronto, will see rising rental rates and in- Saskatoon 6.1% 8.7% 14.8% 15% creased demand as new office supply comes 13.9% Winnipeg 4.4% 4.9% 13.3% onto the market. The amount of new con- 12% 11.1% SOURCE: COLLIERS INTERNATIONAL 10.8% 9.9% 9.7% struction in these areas remains well above Q3 2016 AND Q3 2017 9.7% 8.5% the five-year average, and new supply is to 6.9% be absorbed quickly as it becomes available. RESOURCE SECTOR 6% “Moving forward, above-average comple- tions are forecast to continue given under- Gold Copper Oil Natural gas construction figures remain above the five-year average, with the exception of $1,1175 $2.64 $50.99 $3.56 Vancouver Edmonton Regina Saskatoon Winnipeg Calgary and Edmonton,” CBRE reports. ■ per ounce per pound WTI/per barrel per gigajoule Calgary – Tanya Commisso SOURCE: NASDAQ, ALL PRICES IN U.S. DOLLARS, PRICES AS OF DEC. 7, 2016 SOURCE: COLLIERS INTERNATIONAL, CBRE
Complimentary review of your 2017 commercial assessment!
9 UNIT TOWNHOUSE RENTAL DEVELOPMENT MERRITT, BC (ū;Z9;AūZaDū!];>-;A6U Your property...has it been assessed fairly and equitably? (ū.EJ\ū@;>>;DA (ū[ū!/-TDD@ū-/U;6AūFFTDFT;Z/ū3DTū 0VSQSPGFTTJPOBMBTTFTTNFOUSFWJFXTIBWFTBWFEPVSDMJFOUTTFWFSBMNJMMJPOEPMMBSTJOQSPQFSUZUBYFT,FOUt.BDQIFSTPODBOIFMQ Z9/ūT/AZ>ū@T=/Z you determine whether your commercial property is fairly and equitably assessed. Our experience with BC Assessment practices has ū U]F/T;DTūL]>;ZcūA-ū-/U;6A allowed us to achieve over a 95% success rate on our appeals. Remember the appeal deadline is January 31, 2017. (ū D-/TAūA-ūa/>>ū@;AZ;A/- (ūTDF/TZcū9Uū6DD-ū/bFDU]T/ūZDū #BTFEJO,FMPXOB ,FOU.BDQIFSTPOTFSWFTDMJFOUTBDSPTTUIFQSPWJODF0VSUFBNPGFYQFSUQSPGFTTJPOBMBQQSBJTFSTPòFSTTQFDJBMJ[FE U9DFF;A6ūA-ū@/A;Z;/U appraisal and consulting services on a wide variety of properties including retail, office, industrial, agriculture, wineries, development (ūDD-ūF/-/UZT;Aū))/UUūZDūZ9/ū land, hotels, motels, golf courses and First Nations land. We also provide services related to reserve fund study preparation, FTDF/TZc expropriation, expert witness and litigation support. (ū Daū`)A)cūTZ/ūA-ūUZ!>/ū ;A)D@/ (ūT/U/AZū;A)D@/ū.B\ūeeeūAA]>>c Connect with Us: (ūDZ/AZ;>ūT/AZ>ū;A)T/U/ūZDū.Ee0ūeee (ūT/U/AZū)FūTZ/ū4I (ū/)/AZūFFT;U>ūDAū3;>/ (ū]TT/AZ>cū3]>>cūD))]F;/-ūA-ū;Aū9;69ū Rod Cook "ESJBO3J[[P -/@A- AACI, P.App., RI, C. Arb. AACI, P. App. PETER MOYES MANAGING PARTNER ASSESSMENT SPECIALIST Call 250-315-5216 304 - 1708 Dolphin Avenue Kelowna BC V1Y 9S4 | 250.763.2236 Or email: [email protected] www.kent-macpherson.com | twitter @kent_macpherson
B6 | INTERIOR BRITISH COLUMBIA | NORTHERN BRITISH COLUMBIA WESTERNINVESTOR.COM | JANUARY 2017
It may be better to buy than lease in competitive Calgary COVER | Commercial strata trend moving from B.C. to Alberta as owner-occupiers look to security, equity growth – and retirement income our own building,” said Vanessa Beedie’s new developments are in By CORI HOWARD de Mello, owner of Beauty Depot Airdrie, approximately 15 minutes [email protected] – The Esthetic Institute Training from the downtown core, drawing Centre. She and her partner Silvia businesses that want to own and D’Costa purchased 12,000 square benefit from the cost savings of ollowing on the success of feet at Fairmore and will soon be being on the outskirts of the city. commercial strata in Brit- moving in. “We were leasing, but With pricing starting at $165 ish Columbia, Alberta is F rates in Calgary are really expen- per square foot, Jorden Dawson, seeing an expanding market in sive. Our new building is bigger, Beedie’s director of industrial de- office and industrial commercial brand new and the monthly costs velopment in Calgary, said they condo development across the are less than leasing. We will now are seeing a lot of interest and ac- city. Beedie Development Group have both our businesses under tivity. “A lot of businesses see the and Hungerford Properties are one roof in a beautiful custom- value in owning their own facility. both Vancouver developers that designed building, with enough Unlike a stand-alone industrial are taking their expertise east- warehouse space and room to building, commercial condos offer ward, leading the development for expand.” a unique way to own that’s better this asset class in Alberta. The development has been so value, while still building equity.” “In the last five years, we’ve popular, there is only one ware- Calgary commercial condo really seen the commercial house unit still available. At units are often priced at about condo sector take off,” said Paul $240 per square foot, and with half or less than what they Marsden, executive vice- continued low interest rates, Fair- would cost in Vancouver. And president of industrial sales and more – and similar projects such Jorden Dawson of Beedie: owner-occupiers gain equity | JESSI GOWAN with Calgary rents remaining leasing for Colliers in Calgary. “It as Nexus in Calgary and Para- high, commercial condos are an allows small and medium-sized gon in Edmonton – offer oppor- Hungerford made it really easy increasingly popular option for businesses to own their own real property. They’re able to control tunities for Alberta businesses, for us to understand the benefits the city’s small and medium-sized estate and build equity. For many their costs and expand or contract especially those in the office sec- of owning a new space. We have businesses. of them, that’s their retirement. their business instead of being at tor, looking to consider buying a Vietnamese bakery and restau- After five years of renting, True We are generally not seeing large the whim of a landlord.” their own real estate. With con- rant at the front of the building, Directional Services purchased businesses buying strata units. In Vancouver and Toronto, com- struction complete at both sites, with food manufacturing in the 4,100 square feet of office and It’s hitting a middle band.” mercial condos have been well businesses can have immediate back. Our monthly payments are warehouse space a few years ago. Fairmore Business Park is one established for decades, but avail- occupancy. cheaper than a lease so it’s been a “Rent in the Calgary market can of three recent commercial condo ability remains scarce. In Calgary, “The attractiveness of com- smart investment for my family. be expensive,” said CEO Sean developments by Hungerford, and there are more options for busi- mercial condos is that, with a I wish I’d bought the unit next Senos. “Owning my company the only new office and warehouse nesses wanting to buy into new, low interest environment, small door.” means we can have more capital project in south central Calgary. It high-quality, Class A commercial business owners see real value in Beedie Development Group has to invest in growing the business, offers one of very few opportun- buildings. And unlike the com- ownership,” said partner Michael three industrial strata devel- rather than rent. It costs us 25 per ities for businesses to buy new mercial condo sector on the west Hungerford. “These businesses opments under construction – cent more to rent rather than to commercial space in the city. Just coast, commercial condos in Al- are able to grow equity through and its Highland Common Busi- own.” ■ minutes away from downtown berta are targeted predominantly their real estate. They’re able to ness Centre has only one unit Vancouver-based in a prime location, it has drawn at owner-occupiers, rather than improve space and reinvest in it remaining for sale. That de- Cori Howard is a a number of owner-operators investors. knowing that they’ll benefit once John Phan velopment has drawn a variety journalist and a looking to build equity in their bought a commer- the time comes to sell the prop- of end-users, including a land- leader in strategic business. cial condo unit two years ago at erty. There can be tax advantages scape supply company, a tire com- communications in “Our dream was to one day own Nexus Business Centre. “This was for them if they own their own our first real estate purchase and pany and a welding firm. Both of Western Canada.
COMMERCIAL & DEVELOPMENT DDAWSONA W S O N KAMLOOPS COMMERCIAL PROPERTY OFFERING COURT ORDERED SALE CCREEKR E E K ICX.ca to review all Commercial Listings 5100 N 50 Avenue, Fort Nelson, BC $8,499,000 Jim Knowles Personal Real Estate Corp. 250-318-0497 Cell 250-374-3331 Offi ce This offering consists of 135 TOM MORAN MO www.nvesta.ca Personal Real Estate Corporation REAL ESTATE (KAMLOOPS) combined hotel and motel rooms, 250-784-7090 KAMLOOPS MARINE RETAIL SALES & SERVICES a 150 seat corporate event [email protected] Buildings, Land and Business ICX.CA 137119 centre, a 65 seat lounge, a 165 Domenic’s Marine INC. 3,800,000$ DAWSON CREEK 10% cap rate 2,560,000 Gross 2016 seat restaurant, seven retail Management can stay. 2 acres secure and fenced, 2 steel buildings, one new COMMERCIAL EXPERT 35 yrs. the other under 10 yrs, both on foundations/dry walled/heated and tiled, spaces, six 3 bedroom town RE/MAX DAWSON CREEK REALTY in operation. Award winning Kamloops Marine parts, inboard/outboard engine sales, repair service, boat sales to 30 ft. with storage. Sells/services Mercury(R) Engines, Lund boats, Lowe pontoon boats, trailers/boating accessories. One homes, and 31 fully serviced building 10 yrs. old 10,000 sq.ft. with 2 retail showrooms, includes 2nd show room/2X18’ bay door, mezzanine, 5 mechanic stations in service bays with mobile home park pads on covered outdoor concrete work area, 3 offi ces, lunch room. Brand new 3200 sq.ft. pontoon showroom dividable with two roughed in washrooms plus 2X 10 acres in downtown. Four 20’ bay doors, dry walled, heated, insulated and tiled. Separate on site RV repair lease in place. Sustainable 2016 gross sales of +2.5 M due to larger commercial tenants are located line of Pontoon boats. open 12 months, 6 days per week. Numbers to proven qualifi ed investors only. Confi dentially agreement. Seller will train new owner. ADVERTISE WHERE Details at Nvesta.ca video at youtube.com/nvestca at street front within the hotel. INVESTORS ARE LOOKING TED HALAMA DANIEL THOMPSON [email protected] [email protected] 604.723.1177 604.910.1505
KAMLOOPS CORNER STORE Building and Business ICX.CA 131309 496.000$ 2 Strata Lots (300,000 value) +10% cap rate - $988,000 Gross 2016 604.669.8500 KamloopsBusinessForSale.ca ( 2( 7KLVLQIRUPDWLRQLVIURPVRXUFHVZKLFKZHGHHPUHOLDEOHEXWPXVWEHYHULĆHGE\SURVSHFWLYHSXUFKDVHUV and may be subject to change or withdrawal. Sotheby’s International Realty Canada is Independently Owned And TOLL FREE 1.800.661.6988 Aerial Video / photos available for commercial & acreage listings WESTERNINVESTOR.COM Operated. View at web page www.nvesta.ca JANUARY 2017 | WESTERNINVESTOR.COM NORTHERN BRITISH COLUMBIA | B7
611 Brunswick St., NORTH EAST B.C. PRINCE GEORGE AND AREA Prince George, BC GEORGE WEINAND V2L 2B9 TF 1-800-667-7330 $1,200,000.00 $2,200,000.00 250-960-9556 Each offi ce is independently owned and operated [email protected] www.pgcommercial.ca SSILVERADOILVERADO TTUMBLERUMBLER 1933 Queensway St. HHOTELOTEL (Court-Ordered Sale) DDAWSONAWSON RRIDGEIDGE IINNNN 1,600 sq ft Offi ce/showroom building on .23 CCREEKREEK BBCC Acre, 3 offi ces, M/F restrooms, 8’ O/H door, 42 Rooms of which 20 are Suites. 48 Rooms-Motel, 140 Seat Sports Tavern-Leased paved fenced compound and some furniture. Rented monthly. No Maid-Service 110 Seat Restaurant-Leased plus separate Beer & Wine Store How much is a Beer & Wine Store Licence worth??? Building has been renovated, new furnace, 140 Seat Tavern Leased, 110 Seat Restaurant Great Buy!! Coal Mine just re-opened!! HVAC approx 2010, roof and windows updated. ‘Quiznos’ - (2 locations) vacant, 2,200 sqft vacant Commercial HURRY Don’t miss this one. Mgr in place. Fantastic business opportunity. Two ‘Quiznos’ restaurants in Parkwood and Spruceland strip-malls. High gross and great profi ts. Extremely well maintained staff and operation. SOLD – Tumbler Ridge Wilderness Inn 50 units , all upgraded - $ 1,500,000 1028 Eastern Street Inventory sold separately. Please DO NOT contact staff or owner’s directly. 2.63 Acres, Zoned M-2. 4,000 sq ft dock- 1648 Ogilvie Street (REDUCED) 700 Kinsmen leveled steel clad building with 1,050 sq ft of Sawchuk International Real Estate Services Inc Two 5,000 sq ft buildings on .46 Acres. Visibly desirable 0.78 Acres. covered deck. 1,000 sq ft stand alone offi ce, Located on Ogilvie St in Prince George’s Zoned C-4 (Local Commercial). Since 1978- Everything we touch turns to SOLD security fencing and compacted gravel yard. Suite 203- 815 Main Street Park Royal, West Vancouver BC V7T 2Z3 premier Light Industrial Park. Architectural drawings available. Call Ben Sawchuk 604 838 9992 E-mail: [email protected] THINK REAL ESTATE... The Best Investment on Earth
FOR SALE: Offi ce Building - Prince George FFORT.ORT. SST.T. JJOHNOHN The offi ce building has a total area of approx. 20871 sq.ft + 13,500 sq.ft. Building for Sale/Lease Affordable & Well Built shop/offi ce 11492 sq ft basement. Majority of the building is leased to a solid Federal Government tenant and BID Group of Companies with approx. 4900 sq ft of vacant turnkey space available for lease. The original building was built in 1953; in 2012 there was an extensive renovation to the entire 2nd fl oor plus approx. 3000 sq ft of the main fl oor creating new offi ce space for the 2015 Canada Winter Games and The BID Group executive offi ces. A new elevator was also installed which services the entire building. Property consists 6708 - 87A Avenue 10187 Alder Crescent of seven lots, 30 x 110 (23,100 sq ft), and includes 2 additional 10,500 sq. ft. shop - 3,000 sq. ft. offi ce 800 sq. ft. of offi ce includes reception area, 4 offi ces, kitchenette, vacant paved lots utilized as parking. 5-16' x 16' electric drive through bays security system. 2800 sq. ft. of shop (40 x 70) 1 - 12 x 14' overhead $4,000,000 Including one wash bay and 1 - 14 x 16" electric overhead doors, 18' ceiling. Radiant heat + an Personal Real Estate Corporation 24' ceiling @ peak oil recovery clean burn furnace. Floor drain to holding tank. 3 pce bath Don Kehler + W/D hookups. 2nd fl oor offers a staff/board rm & one offi ce. Cistern 3 phase power Powerhouse Realty – Commercial/Industrial Division & septic tank. Concrete parking pad at offi ce and 30 amp breakers to 7.13 acres chain link fenced parking stalls. Quick possession. This property is also available for Lease Offi ce 250-563-1000 Cell 250-613-9553 FOR SALE $3,700,000 - For Lease $18.00/sq.ft. $820,000 - MLS# C8005665 teampowerhouse.com [email protected] IDEAL FOR SMALL BUSINESS! Class A Offi ce Building for SubLease
INDUSTRIAL • 120 acre sawmill site, large offi ce, 3 bay repair shop, scale, all services. $2,200,000 • 28,642 sq ft quality building on 5.36 fenced acres, cranes, sprinklered, paved parking. $2,900,000 202, 10343 - 100 Ave 10215 - 100th Street • 4800 sq ft shop plus 720 sq ft offi ce, cranes, 24’ ceilings. $8.50 net Second fl oor offi ces available in the professional building of Ground level access to approximately 4920 square feet of beautifully • 21 Acres close to downtown onHwy 16 E. $599,000 MacAdams Law Corp. A total of 2988.50 square feet which could be appointed reception and guest seating area, offi ces & shared boardroom. • 18,683 sq ft warehouse on .88 acre $839,000 or $5.50 net demised to two lease spaces. Large windows provide lots of light, shared 11 offi ces, mail room, fi ling rm, his & her handicapped washrooms. • 4514 sq ft light industrial/retail, great location $8.50 net washroom and coffee facilities. Space is air conditioned. Shared conference rm w/usage to be booked through head lease. • 6160 sq ft industrial shop on 1.4 fenced acres $8.75 net Good signage visibility and street appeal. 6 rear parking spaces Street parking for guests, rear paved parking for employees. • 5600 sq ft shop on 1.25 fenced acres, 2 large bays, crane available for the complete lease space. Must have confi rmed appointment 2609 Vance MLS#: C8002311 - $14.00/ Sq. Ft. + NNN $20.90/ sq. ft. + Cam $5.89/sq. ft $4000 per month net Downtown Prime Corner Location Fully Leased Building For Sale DEVELOPMENT LAND • 8.15 acre with city services, subdividable $119,000 • 10 acres, 570’ of Hwy 97 South frontage close to city $150,000 • 3 acres with Hwy 975 frontage $129,000 • 2 acres on North Nechako Road $29,000 • 21 acres with amazingSSOLDOL cityD views $235,000 BUSINESS OPPORTUNITIES/OFFICE/RETAIL 9807 - 100 Avenue 10711 - 91st Avenue • 4,200 sq ft building in the Hwy 16 W retail corridor $850,000 Exceptional offi ce building. Offering 7 offi ces, boardroom, fi le Prime investment opportunity in Fort St. John, B.C. Showing a 7.63 % CAP rate this fully tenanted 14,000+ sq. ft. building offers 3 units with 3 - 5 year • 15,000 sq ft former bank downtown $950,000 or $11.00 net room, open work station area and coffee room. Air conditioned, triple net leases in place with strong covenants. This building has undergone security system, handicap ramp. Parking at rear of approximately extensive renovations in the last few years to accommodate the tenants • 974 - 2080 sq ft premium offi ce downtown $8.00 net 603 Algoma 9 vehicles plus street parking. Building is very well maintained. requirements. Now is the time to capitalize on this investment and • 2.89 acre C6 with 19,406 sq ft former auto dealership in city $3,900,000 No drop ins please forecast for even a stronger rate of return in the future. Clean environmental and survey completed. • 28 lane bowling alley - land, business and 19,800 sq ft building $16.00/ sq. ft. + NNN - C8005056 $2,800,0000 - MLS# 4507145 downtown $649,900 • Retail/Offi ce strip, 19,800 sq ft , 12 tenants, 6.7% cap $2,100,000 Kathy Miller • 6000 sq ft of quality accessible downtown offi ce $6.00 net Personal Real Estate Corporation • 6200 sq ft of quality downtown offi ce space $6.00 net RE/MAX Action Realty (1991) Inc. [email protected] HANS JOHANSEN KIRK GABLE 250-785-5520 TF: 1-888-785-5520 250 960-9339 250 981-3535 Each offi ce is independently owned and operated [email protected] [email protected] KATHY MILLER Personal Real Estate Corp www.bugkathymiller.com
INVESTMENT OPPORTUNITY LAND FOR SALE INVESTMENT OPPORTUNITY NorthEast BC 4.5+ ACRES Dawson Creek, BC Happy New Year Realty Ltd. Fort St John, BC
LIGHT INDUSTRIAL Professional Office Center Investing Our FULLY LEASED From Energy In The North 10,400sf shop-warehouse-office on FORT ST JOHN, BC For Sale Ron & Theresa Rodgers 15,000+sf building almost fully leased! 4.76+/- acres land zoned light industrial use Development or Located in Regional District jurisdiction investment holding 1216sf remaining for lease We would like to take this (lower property taxes) but along city boundary Current tenancy includes doctor and dentist property for close to airport and city amenities. clinics, pharmacy and medical services opportunity to thank all of 250 785 4115 future development Asking $2.35 Million MLS N4507464 Asking $2.2 Million MLS 157608 our clients and friends for REDUCED - NOW ASKING 10220 101 Avenue Fort St John BC V1J 2B5 $1.299 million your continued support and www.NEBCRealty.com MLS 8009459 look forward to seeing RON RODGERS you in 2017! OWNER - MANAGING BROKER Email: [email protected]
GIVE RON A CALL Specializing In IF YOU ARE INTERETESD IN COMMERCIAL INVESTING IN NORTH EAST BC REAL ESTATE COMMERCIAL REAL ESTATE
Information is not intended to solicit properties already listed for sale, Please no drop ins...all viewings require IN or buyers already under contract. Information is believed to be 2017 ©2017 Theresa Mucci Rodgers accurate but not guaranteed and should be verified. appointment & representing Realtor on site B8 | NORTHERN BRITISH COLUMBIA | ALBERTA WESTERNINVESTOR.COM | JANUARY 2017 CRE outlook: investors show confidence into 2017 FEATURE | Developers dust off plans as oil provinces prepare for an uptick in a commercial real estate market led by a “surprising” retail-sector surge
Edmonton’s industrial market is By WI STAFF surprising to the upside. Invest- [email protected] ment activity began ramping up last year, with $158 million in in- dustrial property sales through the eal estate developers are third quarter, up 116 per cent from bucking the headwinds in the previous quarter. the two Canadian provinces R Industrial vacancy rates, most vulnerable to oil prices – however, are expected to soften apparently confident that this will into 2017, according to Colliers be a year of recovery. International, which notes that The optimism in big-city Alberta 640,000 square feet of new and Saskatchewan may not be mis- industrial space completed in the placed, as the price of oil has ral- last half of 2016 alone. lied above US$50 a barrel and the federal government has approved expansion of oil pipelines to tide Saskatchewan line. With the cost of construc- tion labour and materials lower, The long-delayed Century Park mixed-use development in downtown Edmonton is expected to be among the new Retail is the prime driver in both work is about to begin on a series Prairie projects getting started in 2017. | PROCURA Saskatoon and Regina, according of projects this year. to ICR Commercial, which is retail properties were sold for a buildings, mostly in Calgary, for example, 29 retail properties active in both markets. The retail total of $315 million, the biggest covering 1.2 million square feet were purchased in the city for a vacancy rate is 3.1 per cent in both Calgary being the $106 million purchase of leasable space. This was part of total value of $182 million, a 134 cities, nearly unchanged from a of Beacon Hill Shopping Centre the $353 million spent on Calgary per cent increase from the same year ago. Retail lease rates are Aside from new projects, there has by RioCan Real Estate Investment industrial properties in the first period a year earlier, according to rising, particularly in Saskatoon, been an uptick in investments, Trust, which is planning a three quarters of 2016, which Altus Group. but ICR said the slowdown in the particularly in Calgary. large retail and residential exceeded the entire industrial The big recent news on the residential market will likely cool To the end of September 2016, a redevelopment on the site. investment in 2015. development front is the plan from retail development into 2017. total of $1.3 billion had been trans- Downtown at year-end, Calgary- Meanwhile, Vancouver-based ProCura, the Edmonton developer ICR noted that Saskatoon’s acted in Calgary commercial real based Triovest bought an old retail Qualex-Landmark has broken that has renovated or replaced industrial vacancy has nearly estate, nearly eclipsing the $1.5 bil- block on 7 Avenue SW, where it ground on a new condominium three large commercial properties doubled to 11.2 per cent in the lion invested in all of 2015, accord- proposes a transformation into a tower that required the fourth- downtown, which announced past year and Regina’s industrial ing to Barclay Street Real Estate. chic new shopping stroll. largest concrete pour in Calgary’s plans to start development of vacancy has spiked to 5.6 per cent. Retail is a big mover, spurred by In October, the real estate arm of history. “Calgary has a great Century Park on the corner of 23 However, in Regina, a 33-acre an average of $6 billion a month in the Healthcare of Ontario Pension future,” said Mohammed Esfahani, Avenue and 111 Street, next to a former Sears Canada warehouse consumer spending, the second- Plan bought a 50 per cent share in a partner in Qualex-Landmark. light rapid transit station. ProCura is being reconfigured into the highest among western Canadian the 38-storey TransCanada Tower is proposing to build up to 4,500 Titan Business Park, a high- cities. in downtown Calgary, despite a rental apartments and townhouses quality industrial development “Calgary’s retail sector has near record-high city office va- Edmonton mixed with 24,000 square feet of by Hungerford Properties. demonstrated surprising staying- cancy rate. retail and adjacent office space. ICR is forecasting a rebound power,” Barclay Street noted in a Days later, Vancouver-based Pure The retail sector is also a strong The development is to start this in Saskatchewan’s overall third-quarter 2016 survey. During Industrial Real Estate Trust bought performer in Alberta’s capital. year and may take a decade to commercial real estate sector later the first nine months of 2016, 40 a portfolio of Alberta industrial In the third quarter of last year, complete. this year. ■
PRINCE RUPERT/PORT EDWARD EXCELLENT INVESTMENT 80.31 ACRES COUTTS CROSSING KENNELS 10 acre RAW LAND DEVELOPMENT OPPORTUNITY OPPORTUNITIES IN DOWNTOWN The Coutts Crossing Kennels, kennel building, Quonset & Outdoor Horse Unique piece of property ready to be developed for your PRINCE GEORGE. Arena. 80 Acres of good farmland (presently used for hay), a 1400 sq.ft. commercial/industrial needs. Excellent location with Highway Bungalow & a mobile home. Co-op Water • Well built renewable Rights. ID#1100386 COUTTS, AB MLS ® access roughly midway between the Hwy 16 junction and Port offi ce building, 12,000 sf, with 6,000 currently HI-WAY FRONTAGE OPPORTUNITY Edward. Fully usable 10 acres ideal for potential construction ID#1100541 COALDALE: 25.23 acres of high- camp, staging and/or storage. BC Hydro, Gas, Telus, and Cable leased. Close to City Hall. way frontage property along highway 3, East Excellent offi ce lease of Lethbridge and West of Coaldale. There is run right by the property frontage. There are no other properties public road access on the West end off Twp improvement upstairs Road 19-5. If you require excellent highway like this available in the area/Ocean view is a bonus. Asking $1,125,000 exposure this could be a very good location to set up your business! A county of Lethbridge permit would be required to do anything other $2,240,000 Serious inquires only • First Class, fully leased than farm the land! MLS® offi ce building with “A” FARM & AGR-BUSINESS Don Kehler Personal Real Estate Corporation tenants (National Consulting Farming, agribusiness, pivot irrigated land. Irrigation farm (157.5 Acres) Powerhouse Realty – Commercial/Industrial Division Firm and Emily Carr University). with a beautiful park-like yard, 2120 sq.ft. main home, 2 rental homes, Across from the Court insulated shop, new 60x80 warehouse, 2 quonsets, commercial grain Offi ce 250-563-1000 Cell 250-613-9553 House. handling system with 210,000 bushels of bin space. Land seeded to alfalfa in 2015. ID#1100465 COALHURST MLS® PRICE REDUCED teampowerhouse.com [email protected] Asking $899.000 (Cap rate 8%) HOME BASED BUSINESS • Former Achillion Restaurant OPPORTUNITY on the same block as UNBC’s Unique property on 80 Acres. Gaming Centre/Casino in Prince Rupert 6000 sq.ft. home/main building, new engineering school 2 log cabins used year round, (WIDC). Great location for insulated shop/garage & barn. Exclusive Casino opportunity includes Many recreational, residential retail or restaurant. 4182 sq.ft. and commercial possibilities. slots, bingo terminals, off track horse fl oor area plus basement. MLS® ID#1100313 EVANSBURG betting, keno/lottery, sports bar, and Asking $675,000 COMMERCIAL QUAIL FARM Unique one of a kind 15000 bird commercial Quail Farm in Alberta. convention centre ….. All with an Established well known business, everything done in house. Incl. Mobile • 4-City lots (new construction poultry processing unit providing new market for meat birds. Wholesale amazing ocean view in the booming tax abated for 10-years). buyers are in place & there is a growing demand. Sold as a turnkey Located adjacent UNBC’s operation with all equipment & inventory. ID#1100479 ARDROSSAN City of Prince Rupert. new engineering school FOR THE ELITE (WIDC) & city center. One lot Below replacement cost, built for the distinguished buyer who only wants the best on the market! 3 titles on 301.7 acres of prime land. Includes. 52,000 Serious inquiries only has 3,000 sf vacant building. sq.ft. building that has potential for various uses. 148.7 acres of farmland. Asking $1,300,000 7560 sq.ft. luxury home with a triple car garage & 6000 sq.ft. shop. Co-listed with Coldwell Banker Battle River Realty. ID#1100458 CAMROSE MLS® Don Kehler Personal Real Estate Corporation Contact Powerhouse Realty – Commercial/Industrial Division Gordon Langer 250-565-4663 Offi ce Cell oardwalk 1-866-345-3414 250-563-1000 250-613-9553 [email protected] PROPERTIES teampowerhouse.com [email protected] pgrealestate.com A BRINK GROUP COMPANY www.icimarket.com JANUARY 2017 | WESTERNINVESTOR.COM ALBERTA | B9 ATTENTION: COMMERCIAL MORTGAGE BROKERS
About Us: Call us at Loan Types: Loans from $1 - $10 Million Condo Inventory 1-855-855-5085 Quick Approval Process Hotel & Motel Over $135,000,000 Funded Areas Serviced: Manitoba, Construction Western Canadian Based Saskatchewan, Alberta & B.C. Multi Family
100 – 6700 76 STREET • RED DEER, AB • T4P 4G6 • TF: 1.855.855.5085 • FAX: 1.403.309.3505 EMAIL: [email protected] WEBSITE : www.cobramortgage.com
www.cwedm.com 780-420-1177 1-877-429-9373 RECEIVERSHIP SALES INVESTMENT PORTFOLIO MULTI FAMILY OPPORTUNITIES DOWNTOWN EDMONTON MULTI-TENANT • Oliver Development Land; 15,813 sf, zoned DC2 for 10 storeys; OFFICE BUILDING Brewery District; $2.5 million • 37,118 sq ft rentable area • XQLWVWHQEGUPVWZREGUPVRQ DFUHVLQ7RÀHOG • Five storey, elevator, concrete construction 6.3 cap • New roof, HVAC system • Asking Price: $5,350,000 / $144.13/sq ft • Numerous parcels of residential and commercial development • Stabilized cap rate at asking price: 7.45% land available in County of Leduc ALBERTA INDUSTRIAL HEARTLAND LANDS • 4.72 acres, Devon; DC zoned for up to 57 residential properties; • Newer 14,790 sq ft condo titled retail centre: $2.25 Million $1,995,000 • 304.90 acres located on Highway 15 and Range Road 201 in • 31,361 sq ft industrial building fully leased: $5.2 Million Lamont County with direct access to CN Rail • 33,454 sq ft commercial/retail site along highway in Westlock; • Zoned Heartland Industrial (HI) which allows for a myriad of • Showcase multi-bay build to suit zoned highway commercial discretionary Industrial and Commercial Uses • 24,700 sq ft tenanted condo titled multi-bay warehouse building: [email protected] • Sale Price: $4,573,500 / $15,000 per acre $5.75 Million [email protected] [email protected] • Newer 20 room motel: $1.95 Million [email protected] • 21 Unit Apartment property: $1.968 Million INVESTMENT OPPORTUNITIES [email protected] • VTIWRIÀFHEXLOGLQJRQ$FUHV • Retail Building: $575,000; 11804-45 Street, Edmonton; ±5,955 • 3.66 Acres: $289,000 sq ft; Development Permit in place to allow for construction of 3 HIGHWAY EXPOSURE LANDS DSDUWPHQWVXLWHVRQWKHQGÁRRU TRADER RIDGE, GRANDE PRAIRIE • Lloydminster Truck Wash: Fully automatic state of the art • Anthony Henday & Ray Gibbons Drive, Edmonton FOR SALE / LEASE / BUILD TO SUIT • 2 - 13.76 acres facility; 15,000 sq ft on 8.1 acres • Commercial Zoning Auto Mall/Retail/Industrial development; ±142 acres; $GHO+DQDÀ#FZHGPFRP • Sale Price: $500,000 per acre NW corner of 100 Street & 132 Avenue RETAIL REDEVELOPMENT [email protected] • 8.16 acres with exposure to Highway16A WITH 11 BAY CARWASH [email protected] • Zoned Industrial Business (IB) • Centrally located across from new Blatchford Development • )HQFHGÀYHEXLOGLQJVRQVLWH • Sale Price: $3,987,000 • 2.75 acres paved STONY PLAIN DEVELOPMENT OPPORTUNITY • $500,000 per acre • 4911 - 44 Avenue; 0.94 acres available [email protected] [email protected] • ±130 feet with unobstructed exposure to 44th Avenue $GHO+DQDÀ#FZHGPFRP • Zoned C2 - Commercial General RETAIL PLAZA • Sale Price: $575,000 NISKU INVESTMENT OPPORTUNITY • 10,212 sq ft fully tenanted shopping plaza [email protected] • Leased to Triple A International Covenant • Highly desirable thoroughfare [email protected] • 58,000 sq ft on 3.53 acres • Sale Price: $3,000,000 • ±7% cap rate on 2007 built facility 141 ACRES - SPRUCE GROVE [email protected] SHERWOOD PARK INDUSTRIAL • Highway Commercial - ASP in place EXCELLENT FRANCHISE OPPORTUNITIES • Sale Price: $13,200,000 ($93,617/acre) • Sale-lease back; 6.5% cap rate on 5 year term Interested in owning a restaurant? These and many more are • 24,769 sq ft building on 3.24 acres; built in 2008 available: FREE STANDING MULTI-TENANTED BUILDING • Tenant in business for 15 years • Second Cup Spruce Grove: $169,000 • Completely refurbished 2 storey 15,000 sq ft building JUDICIAL SALE - HORSE HILLS INDUSTRIAL PARK • Boston Pizza - Vermilion: $2.3 Million • Ideally situated within the downtown core • 526 acres*, located within the Edmonton Energy Tech Park • Leased until 2019/2020; Sale Price: $3,200,000 • Famoso Pizzeria Spruce Grove: $350,000 • Industrial Zoning in place and approved by the City of Edm. • Cheesecake Cafe West Edmonton/Spruce Grove: $700,000 each FREE STANDING OFFICE BUILDING - ST. ALBERT • Ready for immediate development • Fatburger, Sherwood Park: $450,000 • Owner/User or Investment • Adjacent to the planned new high load corridor (HWY 37) • Fatburger, Fort Saskatchewan: $550,000 • Sale Price: $2,220,000 • $29,900,000 $21,500,000 • Kim Chi Korean Delight, Kingsway Mall: $239,000 [email protected] [email protected] [email protected] [email protected] [email protected] B10 | ALBERTA WESTERNINVESTOR.COM | JANUARY 2017
Alberta | WHAT’S HAPPENING Positive pipeline decisions a
Meanwhile, Hungerford Prop- “milestone” for Canada’s future hectolitre is the equivalent B.C. investors erties and Beedie Development of a dozen 24-bottle cases of Group, both based in Vancou- beer.) pour into Calgary ver, have started work on new Currently, Alberta has ap- industrial and office develop- proximately 36 small brew- ments in Calgary and Airdrie. eries compared to 13 three Other investors are apparently years ago. There is certainly circling Calgary’s real estate no lack of demand for the market. Total sales of commer- product: per-capita beer con- cial property in the third quar- sumption in Alberta is 85.7 ter of 2016 reached $671 million, litres annually, the highest a 46 per cent increase compared amount of consumption in the to the same period in 2015, western provinces. British Columbia real estate according to Altus Group. developers are going all-in on a Calgary recovery, spear- Deerfoot Mall heading the biggest develop- Beer sector Trans Mountain pipeline will help export a million barrels of Alberta oil per day ment plays in Alberta’s largest updated and generate 32,000 jobs a year. | KINDER MORGAN city. booming The speculation started well Calgary’s Deerfoot Mall’s rime Minister Justin Trudeau McMillan, president and CEO of the before the federal Liberals transformation into Deerfoot has approved Kinder Morgan’s Canadian Association of Petroleum approved two key Alberta oil City took a big step in Decem- Pproposal to triple the capacity Producers. “The NEB [National pipeline projects, and the re- ber with the opening of a new of its $6.8 billion Trans Mountain Energy Board] is sending a clear cent surge in global oil prices, 103,000-square-foot Canadian pipeline from Alberta to Burnaby, message to Canada: building the up 9 per cent as of November Tire store. B.C. infrastructure to get our resources 30 from a day earlier, to US$51 Vancouver-based Shape The federal Liberals also gave a to market is in the best interest of per barrel. Properties bought the aging green light to Enbridge’s $7.5 billion our country.” Spec leaders include Vancou- retail property from Ivanhoé Line 3 pipeline expansion from Approval for the project includes ver-based Qualex-Landmark, Cambridge in 2011. Alberta to Wisconsin. 157 binding conditions set out by which has just completed the Alberta has had more craft The redevelopment will The Trans Mountain and Line 3 the NEB. fourth-largest concrete pour breweries start up in the last nearly double the leasable expansions would boost pipeline The Enbridge project will see in Calgary history as it started two years than any other prov- area to more than 1.1 million capacity by more than 1.1 million the 50-year-old Line 3 pipeline its 34-storey, $110 million Park ince, and a new Calgary by- square feet and is indicative of barrels of Alberta oil per day. from Alberta through southern Point condo tower in the Belt- law and provincial incentives a surprising retail surge in Cal- The Liberals announced the Saskatchewan and Manitoba to the line area. are expected to increase the gary, which has seen consumer decisions ahead of a December 9 U.S. replaced by an entirely new line Approximately 1,200 cubic industry buzz. spending increase during 2016. meeting between Trudeau and the about twice the current pipeline’s metres of concrete was poured Calgary’s bylaw zoning “While Deerfoot Mall was provincial and territorial premiers. working capacity. continuously, during 14.5 hours change has expanded where seen by most as a dated shop- The Conference Board of Canada But Trudeau added a corollary: on November 19. Approximate- craft breweries can set up in ping mall, Shape recognized estimates the Trans Mountain a moratorium on crude oil tanker ly 130 concrete deliveries were the city and eased restrictions the site’s strong fundamen- expansion will result in more than shipping on B.C.’s north coast. “Very made to the Park Point site with on tours, sampling and retail tals,” said Shape executive 32,000 new jobs for each of the next shortly we’ll introduce legislation 25 trucks running in rotation. sales from the sites, accord- vice-president of develop- 25 years. In addition, the Conference to make this tanker moratorium the Blocks away, Vancouver- ing to a Colliers International ment and design Darren Board estimates the pipeline project law,” he said. based Embassy Bosa has broken report. Kwiatkowski. “When we will generate more than $46.7 billion Rona Ambrose, the Conservative ground on a 500-unit twin- A new provincial govern- purchased Deerfoot Mall, in new government revenues across interim leader, said it is not enough tower condominium project, a ment incentive provides we looked beyond the Canada, or $1.87 billion in new for the Liberals to approve major joint venture with RioCan Real grants to craft brewers who shopping centre and at the revenue every year for 25 years. pipelines; they must then “champion Estate Investment Trust that produce less than 300,000 potential for a future mixed- “This decision is a milestone for them through to the end” in order to will complete in 2018. hectolitres per year. (One use master plan.” ■ the future of Canada,” said Tim see that they actually get built. ■
ALBERTA BUSINESSES FRANCHISE HOTEL Linda Holubitsky * RAMADA 780-719-5754 (cell) CAR WASH : $4.3M * 7 WAND BAYS, 2 AUTO BAYS, 1 RV/TRUCK BAY * CENTRAL ALBERTA * Room: Total 86 780-464-4100 Remax Elkayal Real Estate Inc. CAR WASH : $1.95M (66 rooms + 20 rooms) www.acreages411.com Elite Mohamed Elkayal, CCIM * 3 TRUCK BAYS * STEADY SALES * SOUTHERN ALBERTA * Located in main street Broker/Owner Outstanding Opportunities RETAIL BUILDING : $4.3M in Lethbridge. Dir: 780-906-5822 * CAP RATE: 6.75% * BUSY LOCATION IN CALGARY Edmonton Greater Area: Servicing Edmonton & Area Since 1993 * Lease restaurant ($84,000/year) 2014 Life Member Award - Professional ■ 46.46 acres, with two homes located in REALTORS® Association of Edmonton * Very nice condition and renovated. In grateful acknowledgement of long & RROCKYOCKY PPARKARK City Limits – $899,900 mls E3425733 faithful service to the association * Asking: $7.4 mil ■ 38.52 acres, within City Limits with * FAMILY RESTAURANT - $229,000 4403-681-751203-681-7512 house $799,900 mls E3425732 Opportunity knocks for this well established family restaurant. Thomas Koh (CIR) Comes with low rent and long term lease. Licences for 52 seats. [email protected]@cirrealty.ca ■ 5.49 acres, within City Limits Beautifully Same location since 1977. Serves western food and pizza. Also 403-680-9827 has catering services. For more information, please call. appointed 2-storey with industrial grade RETAIL PROPERTY $2.3M wwww.rockypark.netww.rockypark.net [email protected] * shop and 3 garages – $1,499,900 Excellent opportunity for this well maintained building. Comes with long term lease tenant,OL CapD Rate 6.1%. For more mls E3425370 information, please call.SSOLD WHITECOURT INDUSTRIAL ■ Raw Land 78.09 acres 15 minutes from *DUPLEX SIDE BY SIDE - $485,000 Opportunity for small investor for this well maintained property. SHERRI City Limits $269,900 mls E3425785 Run by owner. Comes with 3 bedrooms for each side. Basement ■ 77.54 acres, A-frame home with barn & has 1 bedroom suite. For more information, please call. *OFFICE BUILDING - $950,000 GIBSON 2nd residence mobile home, excellent Excellent Opportunity for this well maintained Building, comes with Associate Broker location – $849,900 mls E3425367 long term lease Tenants. 2800 Sq/Ft 2 Storey. Has 2 tenants. MMLS#41910LS#41910 MMLS#41467LS#41467 New roof 2014. For more Information please call. ■ ACRES LOT - $99,500 5012 CAXTON STREET 3360 33 STREET 58.84 acres, FF walkout bungalow, with * barn and combined shop 25 minutes Opportunity knocks for this 2 Lot Acres side by side, one acre 780-778-9592 Rare fi nd! Highway 43 exposure makes Stunning Industrial shop w/ outstanding street each. Can be sold together or separate. Ready to build your this perfect for high exposure business. appeal. Great exposure for your business - locat- North of Edmonton – $949,900 [email protected] ed in the hilltop industrial area w/ direct access dream home. Year around for fi shing. For more information, Property is comprised of 2 buildings and a off of Hwy 43. Building has 9125 sq ft of indus- mls E3425712 please call. large fenced compound with the potential trial space & an additional 2500 sq ft of mezza- *OFFICE SPACE FOR LEASE to purchase the adjacent land separately. nine space. Some features incl. 2 - 14x16 drive ■ 78.88 acres, tudor home, hog barn and Three units available, 1120 sq.ft., 1200 sq.ft. & 1420 sq.ft. CENTURY 21 Numerous executive offi ces between thru bays & 2 additional 14x16 bays at rear. Each COMMERCIAL BUILDING - $270,000 bay featuring sep his & hers washrooms plus a 3 numerous out buildings, great location * NORTHERN REALTY both buildings, warehouse spaces, 7 pce unit w/ steam shower. Front Lobby is 2 level $749,900 mls E3425723 Opportunity knock for this 2 Commercial Building 2679 Sq/Ft. bays in shop including a wash bay, at- & has an outstanding water feature, there is an with Over size Lot for expand. Has long term Tenant. CONVENIENCE STORE - $199,000 tached training centre, complete upgrade upstairs boardroom adjoining a full kitchen & ac- ■ 160 acres located in Parkland county * and renovation of the main building plus a cess to the upper deck w/ glass ext. walls. This Excellent and Great Opportunity for this well Established building features multiple offi ces, storage, paved with large bungalow, with numerous new build of the second building in 2014. Convenience Store with Steady Clientele. Come with Low and parking, fenced compound & so much more. long term Lease. Has Lotto and Phone card. Surrounded by 4 Currently leased. $4,900,000 It has to be seen to be appreciated. $2,300,000 outbuildings – $599,900 mls E4001186 Motel, 2 Bar and new Industrial area with no Competition. JANUARY 2017 | WESTERNINVESTOR.COM BUSINESS OPPORTUNITIES | ALBERTA | B11
RICKY’S FRANCHISE WWANTED!ANTED! MMOTEL,OTEL, Mart,Mart, LLIQUORIQUOR w/Propertyw/Property COMPANIES WITH FOR SALE IN CALGARY TAX LOSSES FOR SALE EEDMONTONDMONTON AAPARTMENTSPARTMENTS (A) Excellent Mart with Property (40 min Calgary) ($1.20M) Free standing, in well-established FFOROR SSALEALE (Real Estate Related) No Competition, Nice B/D, $1.2M(Sale), Store(4,500sq.ft), 2004 Built residential & commercial communities. 6 unitsunits OliverOliver 9 separate company losses: Recently renovated. Profi table & stable 26 units Strathcona (B) Young/Profi table Motel + Commercial B/D ($7.60M) Total of: $34,000,000 business. LD SSOLDO Active Area Project, Built 2008, 3.4 Acre, Net($1.75M), #1 Leader (smaller company losses available) $550,000 49 units Saskatchewan Drive Calgary and/or Vancouver 96 units SouthgateD Deal direct Vijay Thankey SSOLDOL (C) Liquor Store in Big City(1.5Hrs Edmonton) ($185,000) Contact my team at Flexible terms! Excellent Value! Re/Max Realty Professionals $0.94M(Sale), 2,020sq.ft(Store), At Strip Mall, Steady in 2015~2016 Contact William 403-554-4268 EEmail:mail: [email protected]@gmail.com (phone / text / email) [email protected] Sasha Uhryny MBA Real Estate Eric Shin / IC&I Full Commercial, BBA Mobile 604-657-1270 Cell: vj2good.com AAlliancelliance RealtyRealty Inc.Inc. 403-689-3524 Mountain Central [email protected]
BUILDING, LAND AND INVENTORY FOR SALE RECESSION PROOF IINVESTMENTNVESTMENT – FOX CREEK YOUR ADVANTAGE IN ALBERTA $$869,000869,000 MMLS#39699LS#39699 FRANCHISE HOTEL WITH LEASED RESTAURANT MUST BE SEEN OOPPORTUNITIESPPORTUNITIES Asking : $18.5M, Revenue of 2015: $3,925,964. 101 room hotel complex and franchise restaurant that $5.2 million Now $4.9 million nnearear EdmontonEdmonton were constructed in 2000 at 2.75 Acres land with an excellent destination/retail location. Commercial mix 2 buildings FULL SERVICE FRANCHISE HOTEL IN BIG CITY AB 9000 sq.ft. $9,400 income Asking : $14.9M, Revenue of 2015: $4,082,415. 2016 Expectation: $3,258,000 (Exclude restaurant & Bar), 108 Room with 3,600 Sqft conference room, 6,000 Sqft 52 Acres pasture land zoned Great business opportunity in Booming Oil Town: The Source Restaurant & Bar which was built in 2003 with 1.95 Acres for future commercial/industrial is a thriving business for offi ce supplies and electronics. located along a major arterial roadway inbound to the city. Owner’s are retiring so all this is for sale. Opportunity to reconfi gure the space to meet your business needs. Please FRANCHISE HOTEL IN BIG CITY AB 68 Acres country residential call 780 622 7422 or email [email protected] Asking : $13.9M, Revenue: 2014 $4,479,772, 2015 development land half acre lots $3,957,992, 2016 Expectation: $3,400,000 (Room only) CATHY WILTSE REALTOR® 102-room hotel that was completed in 1998 with 1.92 Acres with city services Licensed in the Province of Alberta land located along a major arterial roadway inbound to the EXIT REALTY RESULTS (Whitecourt) city and it includes an indoor pool, fi tness room, 3 meeting 66 Acres development land FOX CREEK OFFICE, Whitecourt AB room with CHY (Commercial Highway Corridor). Zone Hanna TRAVELODGE by Pigeon Lake allows to build 10 storey building and can add over 50 room. Terrifi c Full Service Motor Inn FRANCHISE HOTEL IN CENTRAL AB FIVE STRONG INCOME SOURCES 40 Acres hwy commercial INVESTMENTS Asking : $11.9M, Revenue: 2014 $3,335,716, 2015 1. 80 rooms - all concrete construction $2,668,155, 2016 Expectation $2,150,000. A limited zoned for strip mall service, 92-room hotel with 1.97 Acres land that was 2. Full restaurant completed in 2004 with good exposure and relatively 3. Lounge with 8 VLT’s CALGARY AREA Owner 550 Acres grazing land easy access to Highway 2. 4. Popular liquor store Retiring with private lake 5. Rustic Tavern/Nite club • 300 acres with river running through, FRANCHISE HOTEL gravel, highway access, potential Asking : $8,700,000, Revenue of 2015 $2,211,906 and • $1.7 million in renos 40 Acres lake front will be over $2M in 2016. • 3.8 acre site development opportunity Three storey 76 guest room with 1.29 Acres land hotel development land with gravel was s built in 1997 with reinforced concrete fl oor and • Hanna, Alberta - thriving major regional hub • 31 acres industrial & commercial the space was added in 2012 with good quality modern • Huge support from the local community & area Lake Wabamun fi nishes. The population is over 45,000. • Crossroads - heavy load Hwy 36 & Hwy 9 Seller may consider private fi nancing development land adjacent to Highway 2 WELL MAINTAINED HOTEL IN NORTHERN AB For details on these opportunities or other properties available contact: JERRY RACZKOWSKI • 54 acres residential development land Asking : $6,700,000, 89 room hotel which was built in 2008 ready to go – Highway 2 frontage located Northern AB has potential to increase the valuation Tim Anderson 403-862-4179 780-932-2121 by converting franchise motel and a strong commercial e-mail: [email protected] • Growing Business – Flower shop – and retail sector boasts many business in this town. www.AlbertaInvestor.com 403-617-2127 For Sale Truck Wash – 3200sq.ft. – 3 bays FRANCHISE HOTEL AT BIG CITY AB Dalbir Rattan RE/MAX Real Estate Commercial Division Asking : $5,700,000, Revenue of 2015 : $1,525,000. • 30 acres with 1500 sqft home, 32x54 Good access and exposure characteristics 70 room hotel shop, 39x82 Quonset,24x32 shop +more located near Trans Canada Hwy and all buildings refl ect the franchise standards and have been maintained adjacent to growing community north of throughout their life. Calgary FULL SERVICE HOTEL IN BC Asking : $5,490,000, Revenue of 2015 Room: $1,348,543, • 279 acres located next to CROSSFIELD– Restaurant : $1,136,418. Well set up with the three buildings possible development possibilities forming a C with 48 room & restaurant. Over the last decade more than $15 billion in value-added manufacturing products • 3.26 acres in CARSTAIRS high traffi c has been sent to world markets by this city based companies. RED DEER, ALBERTA area, excellent for multi-family or Motel FULL SERVICE HOTEL, LIQUOR STORE IN BC Asking : $4,800,000, Revenue of 2015 Motel : $742,485, • CARSTAIRS - 35.85 acres development Restaurant :$878,633, PUB : $1,055,344, Liquor store : 17 SUITE APARTMENT 1,098,837. 32-room hotel, restaurant, sports bar, private site includes 2700 sq.ft home & out dining/meeting room, and Liquor store with 7.220 acres - 4 bachelor, 5-1 BR, 8-2 BR outbuildings land which was built in 1979 .The community is the re- gional retail and service hub for the northwestern portion - Great condition - Fussy owner • 137 acres with #2 highway frontage – of BC with a 11,486 population. - Backs onto park excellent access FULL SERVICE HOTEL 00 ASKING : $3,300,000, Revenue: $3,301,075, NOI: $378,245 ASKING $1,700,000. • AIRDRIE – Investment property-5000 (Revenue detail) Room: $244,915, Liquor: $1,223,085, sq.ft. industrial building – fully leased VLT & ATM Commission $469,309, Rental income from COMMERCIAL BUILDING DOWNTOWN employee: $10,000. 34 Room, 474 seat bar with the VLT • 1.67 acres multi family site in growing gaming room contains 25 VLTs with off-track horse race, 158 seat dining room, 78 seat restaurant seat dining room. - 12,335 sq.ft . - Parking! community FRANCHISE MOTEL IN SOUTHERN AB - Across from Superstore • OLDS - 20 acres development site – ASKING : $3,150,000, Revenue : 2014 $1,09,545, 2015 - 6 unit condo title highway frontage $719,006, 2016 Expectation : $650,000, 48 Room limit service Hotel which was built in 1996, 00 • Industrial buildings for lease – ASKING $2,100,000. SHOPPING MALL IN CALGARY 12000 sq.ft. – 40,000 plus sq.ft Asking : $4,300,000, Rental Income : $289,560. OFFICE SPACE - DOWNTOWN Premium exposure, easy access from Deerfoot Trail and - Lots of parking!! - Full fl oor - 5th fl oor For more information on these and other properties fully leased 7 bay shopping mall. - 8524 rentable sq.ft . CALL www.francisleerealty.com - Available March 1, 2017 DON SACKETT FRANCIS LEE - Great TI’s in place RE/MAX ACA REALTY COMMERCIAL REAL ESTATE 1018 Hammond Ave, Crossfield, Francis Lee ASKING $14.00/sq.ft . tn - Lets talk! AB T0M 0S0 Fax 403-946-5035 Cell 403.680.6130 (403) 946-5657 Fax 403.476.5334 ACA Realty Call: CLARENCE TORGERSON CCIM [email protected] [email protected] Maxwell South Star Realty (403) 340-8611 www.acarealty.com Associate Broker, IC&I Full Commercial Member B12 | ALBERTA | SASKATCHEWAN WESTERNINVESTOR.COM | JANUARY 2017
FOR SALE INVESTMENT OPPORTUNITY REGINA SASK SASKATCHEWAN 46 Acres on Inland Drive, Accelerating success. zoned agriculture – FOR SALE FOR SALE convert to industrial. Industrial land in the same area NEW RETAIL - FOR LEASE starts at $160,000 / acre. PRICE JUST REDUCED TO • Addition to 700 Victoria Avenue Strip Mall $650,000.00. • 4,370 sf demisable space still available 2730 VICTORIA AVE REGINA 385 BROADWAY ST E YORKTON • 1,500 sf of new space leased CALL GEORGE HARVEY • 108 room Limited Service Hotel • 40,850 SF shopping centre on 3.11 AC with WHEATLAND REALTY LTD. REGINA SASK • 48 new constructed rooms 2104-15 historically high occupancy located at the • AM side of street, 27000 vehicle count per day 1 306 757 9817 - [email protected] • Existing 60 rooms extensive renovated intersection of Highways 9 and 10 • Opportunity to relocate for expansion • www.wheatlandrealty.com Exposure/access to and from Hwy #1 • List Price $8,475,000 Excl. • List Price $12,000,000 Excl. Michael Kelsey | 306 501 8768 | [email protected] RETAIL / OFFICE SPACE Micky Schmitz | 306 533 9045 | [email protected] D'Arcy Skwara | 306 535 2600 | [email protected] • 1,017 sf of space w/ retail glass store front TOON FOR SALE FOR SALE | LEASE • Good location for SSASKATOONASKA Professional Services/Retail PARTMENTS • Broad Street north location AAPARTMENTS • Asking $20 Net 366 EDSON ST SASKATOON 2605 AIRPORT DR SASKATOON • 29,784 SF building with cold storage space • 12,134 SF building just steps from the air- NEIGHBOURHOOD STRIP - WANTED • Backs onto railway spur, high volume wa- port with a government tenant on the main ! ter line, numerous electrical upgrades level and a newly renovated lower level • 5,000 to 15,000 sf in Regina/Saskatoon NTED A • • WWANTED! Formerly SQF certified 40 parking stalls for staff and clients • List Price $4,000,000 • Net Lease Rate $15.00/SF V.(Bill) Kutsogiannis BROKER, CCIM Call DEL PETERS REALTY Excl. Ward Edwards | 306 250 3353 | [email protected] • List Price $2,900,000 Excl. (306) 591-2248 306.934.3151 Colliers McClocklin Real Estate Corp. | 306 664 4433 | www.collierscanada.com/saskatoon www.janusrealty.ca www.delpetersrealty.com CIR Commercial Realty Inc. | 306 789 8300 | www.collierscanada.com/regina
CURRENT OFFERINGS INVESTMENT OPPORTUNITIES LOOKING FOR SELLERS • A Flagged 100 Room Hotel with highway exposure in - Brand new duplexes and multifamily/commercial. - We have all kinds of Commercial Buyers - CASH/QUICK CLOSING superb condition with no differed maintenance, excellent - Infi ll locations and new subdivisions. location, attested to by its continuous outstanding - Commercial/Industrial properties with long term Tenants. LAND FOR SALE (Regina & Surrounding) operational performances from its very good diverse room - Land development. - MAC ZONING mix, the potential upside going forward under continued - INDUSTRIAL prudent management, should be very good Asking Price $15,500,000.00 • A Flagged relatively new 114 Room Limited Service Hotel of outstanding quality and condition, featuring an excellent room mix with all essential items that enable delivery of consistent superb operational performances; further, it is well located in an economically sound region, thereby rendering a very good potential upside, under prudent management. Priced for an immediate sale at an Asking Price of $15,800,000.00 • A Flagged 135 Room Hotel Package Limited Service For Sale 12 Unit Apartment Downtown Apartment Main Street Apartment Hotels, featuring a variety of room confi gurations among Regina Regina Moose Jaw many other outstanding features, plus exceptional 22 Suiter Apartment - Fully occupied - 16 units - 24 units operational performances that are enhanced by their superb - Near downtown, hospital locations. The potential upside performances going forward Moose Jaw - Renovated - Prime location; rare opportunity - Numerous upgrades & renovations are very good, under prudent management. Asking Price - Recently renovated - Room for expansion on site - Low vacancy - High traffi c/prime location $15,500,000.00 • A Flagged Limited Service Hotel consisting of a very good mix of business. This Hotel is fl agged by one of the major International Flags that delivers superb results to its operation and should continue to do so, going forward. It is being offered at a price of $37,500,000.00 • A Flagged 110 Unit Limited Service Hotel featuring a variety of suites in the room mix of this well laid out establishment with its many outstanding amenities and exceptionally very good highway exposure; located in a solid economic region that has been experiencing continued substantial growth 4-Plex For Sale Shell Lake Unique Investment Property Church For Sale for a considerable period of time, thereby rendering a very Regina Elementary School For Sale 10% Cap Chamberlain, SK good potential up-side under prudent management, going - Recently renovated - Full restaurant inside - Near Regina International Airport - Church + 3 adjacent lots forward. A superb buy at the Asking Price of $22,150,000.00 - Combination of warehouse/offi ce - Good tenants in place - Loads for potential for redevelopment • A Flagged Limited Service Hotel consisting 128 Rooms & - Rare opportunity and hangar - Loads of potential Suites, of exceptionally good quality and featuring plus many - Contact for more details - Call for details - Fully leased out MLS# 564334 - Call for more details amenities to satisfy the varied desires of its guests, located in an excellent location of economic diversity, attested to by its continuous outstanding operational performances, which should continue going forward. Asking $20,500,000.00 • A Flagged 124 Unit Limited Service Hotel, featuring a wide variety of amenities such as conference/meeting rooms, business center, fi tness center, indoor swimming pool/hot tub, guest laundry among other features and amenities, superb location, excellent continuous operating performances, a very For Sale - Warehouse Warehouse/Storage/Compound Space good potential up-side. Asking $19,800,000.00 10 AC Land SALE or LEASE • A Flagged 92 Room Limited Service Hotel of exceptional quality and outstanding features, top condition, in a superb - 18,000 building constructed in 2004 - Each unit is 1200 sf with 750 sf of secured location, delivering excellent operational performances, Mixed use building - For sale - Situated near #1 TransCanada Hwy, near compound which continue going forward thereby rendering very good - Commercial on main; residential on 2nd Wolseley SK. - Many features & Tenant Improvement available potential up-side, under continued prudent management. - Approx. $79,000 annual gross income - Steel structure - Ideal for truckers or workshop related Asking $13,900,000.00 - Close to Downtown - Wide variety of purposes for this building - Call for more information VINCE BOYLES 403-237-5584 • 1-888-482-5583 John Chung, CCIM Aideen Zareh EMAIL: [email protected] 306.501.5333 306.591.6915 MONTCALM PROPERTIES LTD. [email protected] [email protected] www.commercialregina.ca www. montcalmpl.com JANUARY 2017 | WESTERNINVESTOR.COM SASKATCHEWAN | B13
SASKATOON SK SASKATOON SK REGINA SK REGINA SK
INVESTMENT OPPORTUNITY REDEVELOPMENT OPPORTUNITY WAREHOUSE/OFFICE FOR SALE/LEASE HIGHWAY #1 DEVELOPMENT LAND 220 3rd Avenue South, Saskatoon SK 1236 College Drive, Saskatoon SK 455 Maxwell Crescent, Regina SK R.M. of Sherwood No. 159, SK 6DVNDWRRQ·VKLVWRULF$YHQXH%XLOGLQJZLWKIRXUVWRULHV :LWKDWRWDOEXLOGLQJVL]HRI 6)WKLV$FUH DFUHVLWHLQ5HJLQD·V5RVV,QGXVWULDO3DUN 7RWDO$FUHVLQFOXGLQJ$FUHVGHVLJQDWHGDV WRWDOOLQJ6)SOXVXQGHUJURXQGSDUNLQJVWDOOV property is located directly adjacent to U of S, on a 6)EXLOGLQJLQFOXGHV6)RIÀFHVSDFH FRPPHUFLDOXVH$GMDFHQWWR7UDQV&DQDGD+LJKZD\ QHWRSHUDWLQJLQFRPH FRUQHUORWZLWKGDLO\WUDIÀFFRXQW 3DYHGHOHFWULÀHGSDUNLQJDQGSKDVHSRZHU DQGPLOHVIURP*OREDO7UDQVSRUWDWLRQ+XE Sale Price: $11,270,000 Sale Price: $2,200,000 Sale Price: $3,650,000; Lease Rate: $10.50 PSF Sale Price: $15,000/Acre REDUCED: $12,500/Acre &RQWDFW6WDF\'\EYLJRU.HQ.UHXW]ZLHVHUIRUGHWDLOV. &RQWDFW7RGG%XWOHUIRUGHWDLOV &RQWDFW-D\VRQ(OHQNRIRUGHWDLOV &RQWDFW-D\VRQ(OHQNRIRUGHWDLOV WARMAN SK MARTENSVILLE SK REGINA SK REGINA SK
REDUCED!
DEVELOPMENT LAND FOR SALE HOTEL/BAR/LIQUOR STORE FOR SALE MULTI-USE PROPERTY FOR SALE/LEASE OFFICE/SHOP INVESTMENT FOR SALE Highway 11, RM Corman Park SK 201 Centennial Drive South, Martensville SK 1250 Dewdney Avenue, Regina SK 1650 & 1654 Angus Street, Regina SK 7KUHHSDUFHOVRISULPHGHYHORSPHQWODQGWRWDOOLQJ (VWDEOLVKHGURRPKRWHOEHHUVWRUHDQGEDULQ 11,496 SF two-storey building on 0.54 Acres comprised 6)ÁH[VSDFHRIÀFHZDUHKRXVHRQ6)ORW DFUHVGLUHFWO\HDVWRIFLW\RI:DUPDQ DWKULYLQJVHFRQGDU\PDUNHW 6)EXLOGLQJ RIH[LVWLQJFOXEUHVWDXUDQWRQPDLQÁRRUDQG 6) RII$OEHUW6WUHHWDQGFORVHWRWKHQHZ0RVDLFVWDGLXP Gas, power and septic utilities exist along east side. RQ $FUHVRIODQGZLWKSDYHGVXUIDFHVWDOOV RIRIÀFHVSDFHZLWKVHSDUDWHHQWUDQFHRQQGÁRRU *UHDWRZQHUXVHULQYHVWPHQW0DQ\UHFHQWXSJUDGHV Sale Price: $85,000/Acre REDUCED: $48,000/Acre Sale Price: $2,300,000 Sale Price: $1,290,000; Lease Rate: $12.00 PSF Sale Price: $800,000 &RQWDFW6KDZQ7RP\QRU3KLOO(OHQNRIRUGHWDLOV &RQWDFW-RKQ.DFKXUIRUGHWDLOV &RQWDFW-HII&KHYHOGHRIIIRUGHWDLOV &RQWDFW/HYL&RRQH\RU0LNH%DUEHUIRUGHWDLOV ICR Commercial Real Estate Saskatoon Downtown: 306.664.6116 Saskatoon North: 306.933.2929 Saskatchewan’s Largest Independent Regina: 306.721.6116 Commercial Real Estate Company SALES | LEASING | PROPERTY MANAGEMENT [email protected]
BUSINESS AND INVESTMENT REGINA CONNECTION! THE BATTLEFORDS OPPORTUNITIES INVESTMENTS - BUILDINGS - 1540 Albert Street - Offi ce building. ASKING $1,200,000. Building 6,620 sq.ft., Lot 9,385 SQ.FT. MLS #592497 - 649 Soloman Crescent - Mixed offi ce & industrial building. Built 2013. ASKING $1,300,000. With compound space. MLS #581045 AFFORDABLE MANUFACTURING PLANT FOR LEASE: All of or part of 47,000 sq. ft. former manufacturing plant for lease. Reinforced concrete walls and ceilings having 20-30 ft. EXCELLENT BUSINESS OPPORTUNITY HOTELS RURAL - GREAT FOR IMMIGRATION tall ceiling, capable for overhead cranes. Within the building 7,000 sq ft commercial building with Highway #16 frontage in the City spacious offi ces, meeting rooms, reception area, mezzanine, of North Battlefordf, SK. That is currently operating as a Truck & RV - Vibank Hotel - Turn-key setup. Bar + offi ce area. 6 rooms + managerʼs suite. change rooms with lockers. Property is well secured and sits on Wash located on 1.45 acres. The building has two bays 23 x 110 ft with $249,900. MLS #564800 7 acres all fenced . Located in well-established industrial area in each bay having 2 water/soap pumps, 4 wash wants, 4 foam brushes and 2 card readers. This building has a large offi ce, two bathrooms, one North Battleford SK. that is located on Hwy 16, just an hour from bathroom with a shower and a roomy mechanical room. There have been - Odessa Hotel - 6 rooms, 2nd fl oor + owner suite. Bar main fl oor. $225,000. Saskatoon and Lloydminster. Access to proven cost affective many upgrades including, card readers, computer system, Viessmann skilled trades in and around the area. Oil and gas industry active in-fl oor heat boiler, fl ooring in offi ce, receipt machine and lighting in the MLS #580051 north and south of the city. Expanding businesses or just want to bays. Additional revenue being generated by a company renting part of move into a larger affordable location, contact us today. the yard area. Give us a call for a view & more information. $1,125,000. BUSINESSES FOR SALE - Broadview, Sask - Land, building business bar/restaurant. With ownerʼs suite. Extra land for development. $749,900. MLS #591171 - Franchise Restaurant - Moose Jaw - 200 seating. Located on Main Street, near casino and spa. Great up side. Asking $499,900. MLS #589456 7.08 ACRES OF INDUSTRIAL ZONED LAND MINUTE MUFFLER BUSINESS Completely fenced located adjacent to Territorial Drive In North Battleford, SK being sold as a franchise and - Franchise Restaurant - Regina - 96 seating. Asking $362,500. MLS #587206 in McMillian Industrial Park, excellent location for heavy includes land, 4 bay building, all equipment, stock/inventory, 3 computers with programs that track inventory and does - Convenience Store - Emerald Park - $89,900. MLS #586390 traffi c access. The steel framed metal cladded building has billings, furniture, offi ce equipment, 1994 Oldsmobile car, 18,900 sq ft with heavy fl oor construction, offi ce space, 1997 Ford 150 truck. This shop is equipped with one 10 ton overhead doors, overhead hoists, air compressors, overhead and 2-5 ton hoists and an in fl oor pit that has air ventilating. DEVELOPMENT LAND and radiant heating, 3 phase-600 amp power, non-potable The 4 overhead doors were new in 2014-15. Building has water well, septic tank. Buyer will pay all GST. Will consider a security system that secures all areas of the building. - Located in the town of Aberdeen, Sask - 15 minutes N/E of Saskatoon. 80 leasing at $5.00 per sq ft triple net. Excellent location for Excellent opportunity to purchase a well-known franchise that has been in this location for about 30 years and has Acres +/- zoned light industrial. Can design into 23 titles of approx. 2 acres up to 5 acre an investment rental property or a property to operate a developed a repeat customer base over the years. Give us a sites. Asking $415,000. For the 80 acres. MLS #589793 business from, priced right. MLS# 559631. Listed: $740,000. call. MLS# 590438. Listed: $998,000. - Melville, Sask - High exposure lot, 16,250 sq.ft. Great site for a bank or other high exposure site. $299,900. MLS #583639 - Fillmore, Sask - Highway 33 exposure. 23,660 sq.ft., 182ʼ of frontage. Great motel site. Lots of oil & gas in the area. $105,000. MLS #583239 EXCELLENT INVESTMENT OPPORTUNITY BUSINESS OPPORTUNITY - Fillmore, Sask - Highway 33 location. 53,111.5 sq.ft. commercial land. Great for of a property that is zoned C4 located in a close proximity to Territorial In the City of North Battleford, SK. This carpet store has been in Drive and Highway #16 and having good access to a street that has business at the same location since 1983 and is well known to the trucks. Asking $75,000. MLS #583284 the highest daily traffi c count in North Battleford, SK. This property Battlefords and North West Saskatchewan. Over the 30+ years the consisting of 5 lots being about 4.39 acres. The main building business has developed a well-established network of residential and located on 2 of these lots has 10,400 sq ft of developed offi ce retail commercial clients that have become repeat customers throughout Let me help fi nd what you want. area with a tenant and about 2880 sq ft of heated work shop area these years. The business is being sold with all inventory, equipment, with two overhead doors. Two out buildings with one being heated furniture, display racks and shelving. The 5,400 sq. ft. building area HOTEL / MOTEL / APARTMENTS / OFFICE BUILDING and the other cold storage. This property is in an area that has high that the business operates from is leased space and the owner visibility and is adjacent to Walmart, Tim Hortons, CU Plex, Frontier of the property is prepared to provide a long term lease. This is an SERVING REGINA AND AREA. Mall, Gold Eagle Casino, McDonald’s, other restaurants and a Hotel excellent opportunity to take over a well-established business at a very 30 YEARS that is under construction to open in 2017. Location--Location. Give reasonable investment; it is priced right to sell. More information is a us a call for more information. MLS# 592761. Listed: $2,350,000. telephone call away. Talk to you soon. MLS# 589910. Listed: $225,000. AJIT MATHARU KARAM MATHARU WALLY LORENZ Dorothy Lehman 306-581-3130 306-737-0456 Owner/Realtor® Realtor® [email protected] CRAWFORD REALTY [email protected] RE/MAX OF THE [email protected] [email protected] BATTLEFORDS HOMELIFE CRAWFORD REAL ESTATE Each offi ce is independently owned and operated 306-446-8800 B14 | SASKATCHEWAN | MANITOBA WESTERNINVESTOR.COM | JANUARY 2017 Manitoba’s two big cities share a real estate fast track FEATURE | Stable economy, increased infrastructure spending, retail and office expansion expected to boost commercial real estate action in 2017
the quality of life for Brandon’s By GEOFF KIRBYSON residents but also benefit the [email protected] private sector. Brandon Mayor Rick Chrest said city council is also looking at the low-flying loonie, a grow- possibility of annexing some land ing U.S. economy and an to the south of the city that could expanding manufacturing A spawn a “significant commercial sector are teaming up for a rosy and retail node.” outlook for commercial real estate in Manitoba’s two biggest cities. The biggest buzz in Brandon Winnipeg is happening at the Shoppers Mall where Sobeys is relocating The commercial sector continues as an anchor tenant into a to be busy in Manitoba’s premier 62,500-square-foot space that city. was abandoned by Target in Wes Schollenberg, managing the spring of 2015. The launch director of retail, sales and leasing of its Sobeys Extra banner, at Avison Young’s Winnipeg Sobeys is preparing to open a Sobeys Extra outlet as an anchor in the remade Shoppers Mall in Brandon. | SOBEYS which will offer innovative full- office, said the construction service departments, a multi- of True North Square,a use community room for events do business,” he said. Conference Board. $400-million development that such as cooking classes, in-store The Conference Board of A further boost is coming from will include four downtown experts, including a chef and Canada agrees and is particularly the provincial government, towers, is forcing other players to well-being counsellors, as well bullish on Brandon. In its latest which is committed to spend- invest in their properties in order as a new store facade, is easily a Mid-sized Cities Outlook report, ing $5.5 billion over the next five to remain competitive for tenants. seven-figure renovation. the Ottawa-based research house years on infrastructure projects For example, Artis Real Estate “It’s a big boost to Brandon that predicts real GDP growth in the in Brandon and Winnipeg. Investment Trust is spending a company is prepared to move southwestern Manitoba city Chief on the docket in Bran- $26 million to “redo the skin” on one block over and spend that will recover from a “temporary don is replacing the First Street 360 Main Street, one of the three kind of money. It’s a big ticket,” slowdown” in 2015 to hit 2.2 per Bridge, which is expected to cost towers at the historic corner of said Glen Tosh, president of the cent this year. $50 million by the time it’s com- Portage and Main. Schollenberg Brandon Real Estate Board. “A healthy U.S. economy pleted late next year, and more believes much of the confidence Shoppers Mall, which has and low Canadian dollar are than $10 million in upgrades to in Winnipeg’s real estate market more than 90 retailers, is also providing a lift to Brandon’s the city’s airport. Artis Real Estate Investment Trust is springs from the election of Brian preparing to welcome GoodLife manufacturing sector, including “For a mid-sized city, Brandon spending $26 million on the make- Pallister’s government. Fitness-owned Coed Club into its key agri-food processing is doing particularly well,” said over of its tower at Portage and “Things aren’t so bad here. a 25,000-square-foot space industry. Accordingly, we expect Alan Arcand, associate director Main in Winnipeg’s core. | ARTIS REIT Alberta got punched in the that used to be part of the home manufacturing output to grow by of the Centre for Municipal Stud- stomach and we didn’t. We’re to Canada Safeway, as well as 3.3 per cent this year,” the report ies with the Conference Board, when public money is being spent not susceptible to the highs and a number of new brand-name said. noting that Brandon’s population but Arcand said an exception lows. If you go to construction eateries. The city’s employment is hit 56,000 last year. should be made in these cases sites in Winnipeg, you’ll see a “Brandon is a stable, consistent also projected to jump by 2 per Ordinarily people shouldn’t get because the current and upcom- lot of Alberta licence plates,” he marketplace and a good place to cent this year, according to the overly excited about the economy ing projects will not only improve said. ■
BRANDON, MANITOBA BRING YOUR DEVELOPMENT IDEAS MOTEL: 30 ROOMS, SALES $500,000. PLUS, VERY WELL KEPT WITH MANY RENOVATIONS TO INCLUDE NEW ROOF. ® MMLSLS 558883088830 SEASONAL GROCERY STORE: NEAR RESORT AREA IN RIDING MOUNTAIN NATIONAL PARK, OPEN MAY TO OCTOBER. PRICED TO SELL AT $459,000. TO INCLUDE LAND, BUILDING AND EQUIPMENT, INVENTORY EXTRA. WATER BUSINESS: WELL ESTABLISHED WATER PURIFICATION, SALES AND DISTRIBUTION AND LAUNDROMAT. OWNER WISHES TO RETIRE. MOTEL: 2 MOTELS TOTAL OF 74 ROOMS, SAME OWNER, EXCELLENT OPPOR- TUNITY FOR A FAMILY, LARGE 3 BEDROOM HOUSE INCLUDED. RESTAURANT: 120 SEAT, 8 YEARS OLD, TURN KEY OPERATION,WITH LIVING QUARTERS. PRICED TO SELL AT $259,000. I have several motels for sale with owners anxious to sell, priced from $400,000 to 5 million
Century-21 Westman.com This is the only piece of privately owned property along the Rafferty Brandon, MB Direct Line:204-729-5074 Email: [email protected] Dam. A prime opportunity for the keen investor. Located just 19km West of Estevan; 40.18 acres with majestic views of the land and Rafferty Dam. The 4 buildings include the main buildings, being the BUSINESS OPPORTUNITIES, KINDERSLEY SASK. newest, original building, 2 bunk houses and coverall storage unit. All • Jewelry Store ---Kindersley Mall, • Hwy commercial 3.05 Acres buildings have heat power, water and sewer, also power for multiple $80,000 plus inventory on #7 Highway. Located beside camper sites. This property is currently owned by a church and run as a bible camp. The buyer would need RM of Esteven approval for new Hotel and busy Sports Bar. intended use and confi rmation of taxes. • Commercial Building $610,000 with long term tenants. For further details call • 8748 sq ft Industrial Building with 5400 sq ft on a .92 Acres. offi ce space on 1 Acre with two Net income $82,000 per year. large bays, 5 Overhead doors. Lorna Pylychaty $1.3 M Located on Hwy 21 and # 7 902 - 4th Street, Estevan, Cell: 306-421-6847 Call for more info Saskatchewan #1 West Road, S4A 0W3 BILL ph 306-460-7628 cell 306 460 7628 WHEAT 306-634-2628 LAROCQUE Kindersley, SK COUNTRY Broker www.royallepage.ca/kindersley S0L1S1 REALTY JANUARY 2017 | WESTERNINVESTOR.COM MANITOBA | B15
Sask. & Man. | WHAT’S HAPPENING “Forgotten” mall Regina industrial remade in Winnipeg tightens slightly Manitoba solid as Prairie rental market shifts Regina’s industrial vacancy rate has dropped, but it’s not time to break Portage la Prairie posted a out the champagne quite yet. vacancy rate of 4.7 per cent, Against a backdrop of struggling the highest figure among commodity prices, the percentage all Manitoba centres in the of available space dropped from 3 per survey. Brandon, Manitoba’s cent at the end of the first quarter to second-largest city, reported a vacancy rate of 3.3 per cent, 2.8 per cent six months later, accord- up from 2.2 per cent one year ing to the latest report from Colliers earlier. By contrast, Thompson International. The recent opening of a Save-On- and Steinbach have vacancy Paul Mehlsen, managing partner Foods at the Northgate Shopping rates of 1.1 and 1.3 per cent, of Colliers’ Regina office, cautioned Centre marks the highest-profile respectively. addition to the troubled north that the drop was almost entirely This compares with Winnipeg mall, but it certainly due to the leasing of about 52,000 Saskatoon, where vacancy won’t be the last. square feet of space at the TransLink Winnipeg’s rental vacancy is the lowest among major Prairie rates have hit a record-high Northgate’s traffic nosedived after Logistic Centre at the Global cities. | AKMAN PROPERTY MANAGEMENT, WINNIPEG 10.3 per cent, up from 6.5 per its 120,000-square-foot Zellers store Transportation Hub to Univar. cent in 2015. Regina’s vacancy closed in 2013, leaving the mall more anitoba, fuelled by 2016, net migration to Mehlsen said the market has been rate has increased to 5.5 per than half-empty. rising migration Manitoba increased 128 per “softening” slightly for the past cent. In Estevan, which once But the ongoing $20 million into a diversified cent year-over-year, to 8,455. couple of years but that shouldn’t M had the lowest vacancies in upgrade is projected to transform economy, is proving a rock of be setting off any alarm bells be- Contributing to this growth Saskatchewan, the rate has the often-forgotten enclosed mall stability in the volatile multi- was a 27 per cent surge in soared to 27.6 per cent. Average into a modern open-air shopping cause they’re following several strong family rental market across international migrants coming rents remained unchanged centre, said Jonah Levine, a sales years. the Prairies. to the province at the end of across Saskatchewan from a representative at Cushman & “It’s still a good market. If we had The latest stats from a the second quarter, the CMHC year earlier. Wakefield, Winnipeg, the mall’s these days in the early ’80s, we’d have national rental survey show report said. Calgary’s vacancy rate is now leasing agent. been very happy,” he said. that Manitoba’s rental vacancy Winnipeg’s rental vacancy 7 per cent, up from 5.3 per cent “We feel we’re creating a hub Colliers believes Regina’s indus- rate remains steady at 2.9 per rate dipped to 2.8 per cent in in 2015. Edmonton experienced for the community that will far trial market will remain stable for the cent while it has soared to 9.4 October 2016, down from 2.9 an increase from 4.2 per cent exceed anything that has existed in next year but a prolonged economic per cent in Saskatchewan and per cent a year earlier, while to 7.1 per cent. The highest northwest Winnipeg in the past and downturn will likely have a negative 8.1 per cent in Alberta, where average rents increased 2 per Alberta vacancies are in oil- will be competitive with key retailers some cities hit vacancies as cent. The vacancy rate for dependent Cold Lake, at 26.2 and grocers in the area,” he said, impact on vacancy rates and rental high as 26 per cent. rented condominiums is a tight per cent. Average rents across adding he is getting a “strong” level rates. Manitoba is also the only 1.8 per cent. About 18 per cent Alberta were down 5 per cent of interest for some of the existing “Older properties will continue to Prairie province where average of all condos in Winnipeg are from a year earlier, CMHC vacant space from national retailers. feel the greater pressure as new and rents increased from a year rented out. reports. ■ By the time the renovations are redeveloped properties come to the ago, according to the annual completed by the end of next year, market. We expect to see more firms Rental Market Report from Rental market snapshot 2016 17,000 square feet of new pad sites in the construction industry struggle Canada Mortgage and Housing will have been added. with the slower economy, which Corp. (CMHC). Province Vacancy rate Average rent The biggest cosmetic change to may increase subleasing activity. A key driver for Manitoba’s Manitoba 2.8% $911 Northgate will be the demolition rental market is an increase Saskatchewan 9.4% $980 of the interior walkway and Nevertheless, first-rate product for in people moving into the Alberta 8.1% $1,100 transformation to an outdoor format sale and lease will continue to attract province, CMHC stated. Canada 3.4% $995 centre, according to Cushman & quality tenants at rates below the SOURCE: CANADA MORTGAGE AND HOUSING CORP. RENTAL MARKET SURVEY, OCTOBER 2016 During the first half of Wakefield. boom-time highs,” the report said.■
Investment Opportunities
REAL PROPERTY & ASSET PURCHASE OPPORTUNITY ALL SUITES HOTEL PORTFOLIO OAKWOOD ROAD 64N & HIGHWAY 207
Property Highlights: • Rare opportunity to acquire a developed property in a trending growth area near Capital Commercial Real Estate Services is proud to present for sale a privately held Winnipeg, MB portfolio of six (6) all-suites hotels located in southern Manitoba & Saskatchewan. The • Only 10 km from the properties offer investors the opportunity to purchase all or a minimum of two operational Perimeter Highway and a 24 minute drive to hotels and real estate on major highways with strong traffic counts, easy access and downtown Winnipeg excellent visibility. • State of the art facility Additional Highlights: opened in 2002 • Amenities include: reception area, dining room, laundry facilities, exercise room, and • Currently operating as Pine Ridge Equine Park & Equestrian Centre in the RM of meeting rooms Springfield, MB • 387 total rooms • The compound is ideally situated and structured to host a wide range of events and activities • Each hotel is located on 1.95 - 6.14 acres (+/-) • Alternative agricultural uses to be considered - grain, fertilizer, potash, farm implements, • Parking ranges from 68 - 72 stalls dealer, ranching, farming, etc. • Each hotel opened between 2012 - 2014 • Appraised value of $45,700,000 total (2013) For more information on these investment opportunities, please contact: Bob Antymniuk | Senior Director - Sales & Leasing | 204.985.1364 | [email protected]
Capital Commercial Real Estate Services Inc. | 2nd Floor - 570 Portage Avenue, Winnipeg, MB T 204.943.5700 | F 204.956.2783 | capitalgrp.ca B16 WESTERNINVESTOR.COM | JANUARY 2017
• Steady residential and commercial growth. “Top Investment Town • 617 acres designated for non-residential development. in Alberta” • Highly skilled workforce with 67% of population (age 25+) having Western Investor, 2016 post-secondary education. • Average household income of over $136K annually.
Learn more about St. Albert and why investing here is a smart choice at cultivatebusiness.ca.
cultivatebusiness.ca
2016 EDITORIAL LINE-UP
Every month, Western Investor readers find unique investmentment opportunities from across Western Canada. Advertisers can align withwith targeted editorial or in the geographic region of choice.
REGIONAL NEWS, MARKET UPDATES, TOP COMMERCIAL SALES
JANUARY MAY SEPTEMBER Deadline: December 7 Deadline: April 11 Deadline: August 15 ICI outlook 2016 Hotel & motel market Business brokers Cannabis and real estate Campgrounds & RV parks Mezzanine & alternative financing Sale-leaseback strategies Technology & real estate Multifamily market report Retail evolution Franchises Close up: Calgary & Area Close up: Winnipeg Close up: Vancouver Island • Done Deals • Recreation real estate • Recreation • Done Deals • Done deals • Recreation JUNE FEBRUARY Deadline: May 9 OCTOBER Deadline: January 11 Deadline: September 12 Transit & real estate REIT report Airport power centres Real estate investment groups Investing in U.S. real estate Mixed-use developments Office market report Retirement Communities Limited partnerships Close up: Tri-Cities & Burnaby Modular home parks Close up: Fort McMurray & NE Alberta • Done Deals Close up: Surrey/Fraser Valley • Recreation real estate • Recreation • Done Deals • Done Deals • Recreation JULY MARCH Deadline: June 13 Deadline: February 9 NOVEMBER First Nations real estate Deadline: October 11 Self-storage Flip this property Mortgages & financing Ski resorts Sustainable real estate Industrial density 5 top towns Close up: Edmonton Franchises Close Up: Richmond & Delta • Recreation Close up: Grande Prairie & NW Alberta • Recreation real estate • Done Deals • Done Deals • Recreation • Done Deals APRIL AUGUST Deadline: March 7 Deadline: July 11 DECEMBER Deadline: November 14 Land report Recreation report Urban land assemblies Trophy resort properties Residential investment outlook 2017 Farmland investing Future of Golf 5 top landlord markets Franchises Waterfront bargains Big-city redevelopment
Close up: Regina & Saskatoon Close up: Kelowna & Okanagan Close up: Vancouver • Recreation real estate • Done Deals • Done Deals • Done Deals • Franchises • Recreation
604-669-8500 | Toll Free : 1-800-661-6988 Fax: 604-669-2154 | [email protected] | www.westerninvestor.com