MACDONALD COMMERCIAL Commercial Sales & Leasing, Property & Asset Management and Strata Management
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COMMERCIAL REAL ESTATE | FRANCHISES | BUSINESS OPPORTUNITIES $4.29 • OCTOBER 2017 • VOL32/10 LESLEY HEIEIS SSMARTERMARTER MMANAGEMENTANAGEMENT BBOOSTSOOSTS CCASHASH FFLOWLOW HOUSING CALL | 12 ‘SELL NOW, BUY TIER 1 PLAYERS IN THE WEST | 10 IN FOUR YEARS’ Trend-charter Dane Eitel says analytics point to a prolonged price slide SMALL-BIZ BLUES | 16 TAX TWEAKS SPOOK OWNERS Vancouver Board of Trade CEO Iain Black warns changes could be ruinous to some small businesses CONTENTS Full index 3 Property management 10 Residential outlook 12 Tax changes 16 New West commercial 20 Farmland sales 22 B.C report 24 Done Deals 26 PUBLICATIONS MAIL AGREEMENT 40069240 1 0 0 6 0 3 5 8 1 8 2 9 1 9 MACDONALD COMMERCIAL Commercial Sales & Leasing, Property & Asset Management and Strata Management. macdonaldcommercial.com 604.736.5611 Listings on Page A4 & A5 A2 | LOWER MAINLAND WESTERNINVESTOR.COM | OCTOBER 2017 FOR SALE: 2 PROPERTIES WITH FOR SALE - EAST VANCOUVER PRIME OCEANFRONT FOR SALE FOR SALE - SINGLE TENANT 7 APARTMENT BUILDINGS BUILDING AND PROPERTY DEVELOPMENT OPPORTUNITY 38.4 - 78.4 ACRES INVESTMENT OPPORTUNITY BAYVIEW CHATEAU - 1371 BLACKWOOD ST 1428 CHARLES STREET, VANCOUVER MARINER’S VILLAGE, SOOKE, BC BURKE MOUNTAIN, COQUITLAM 250 WINNIPEG STREET, PENTICTON, BC WHITE ROCK GARDENS - 14989 ROPER AVE WHITE ROCK, BC • Pad Development Opportunity • Approximately 40,000 sf, two storey building • 8.63 acres of development land approved for • 2 lots: 38.4 and 40 acres • 1.43 acres site with net rentable area of 23,565 sf on 23,262 sf corner site mixed-use development • Beautiful views • A total of 93 suites & approx. 3.4 acres of land • Net Operating Income $564,668 (as of 09/2017) • Located in Strathcona, walking distance to • Views of Sooke Harbour & the Olympic Mountains • Future residential development property • Well maintained and landscaped with over $1.6 m • Long term lease amenities of Venables and Commercial Drive • Serviced, zoned, marina leasehold included or ideal estate lots in renovations in the past 4 years • Listing Price $9,800,000 • Asking $6,300,000 • Asking $3,500,000 per lot • Asking Price $27,700,000 GREG MILES | CHRIS J. NEWTON* BILL RANDALL* | ANNE TANNER* PETER GIBSON* | JON BUCKLEY* DON DUNCAN* | CHRIS DRIVER* MATTHEW MACLEAN* TIM SOMMER* BILL RANDALL* CO-LISTED WITH FORM RETAIL KOLUMBIA GARDEN MULTI-FAMILY FOR SALE: PROMINENT WEST PROSPERITY BUILDING AT INSPIRATION BUILDING AT 3 STOREY RENTAL BUILDING WITH DEVELOPMENT OPPORTUNITY END DEVELOPMENT SITE DOCKSIDE GREEN DOCKSIDE GREEN 39 STRATA TITLED SUITES 17719 58A AVENUE, SURREY 342 WALE ROAD, COLWOOD, BC 1070 & 1042 NELSON STREET, VANCOUVER 388 HARBOUR ROAD, VICTORIA, BC 398 HARBOUR ROAD, VICTORIA, BC • 19 - One bedroom & 20 - Two bedroom suites • Centrally located in the rapidly growing West • 22 unit & 26 unit strata buildings • Spectacular Turnkey Class “A” Strata • Spectacular Turnkey Class “A” Strata • Net rentable floor area of 32,699 sf Shore community of Colwood • Burrard Corridor - High Density Site • Ground Floor - 4,393 sf • Second Floor - 6,642 sf • Includes 50 secured parking stalls • Site size of 59,374 sf • Potential for total assembly of 25,905 sf site • Second Floor - 1,657 sf • Third Floor - 6,641 sf and 20 surface stalls • Asking Price $2,999,000 • Contact agents for further details • Third Floor - 4,100 sf • Asking Price $6,898,000 BRAD NEWMAN-BENNETT DON DUNCAN* | CHRIS DRIVER* TIM SOMMER* | CHRIS DRIVER* SCOTT MACPHERSON COLLEEN AUSTIN | ANNE TANNER* COLLEEN AUSTIN | ANNE TANNER* KELOWNA AREA FOR SALE: 30 ACRES OF FOR SALE/LEASE - GLOUCESTER RARE 7.5 ACRE DEVELOPMENT SITE FOR SALE: RARE FREESTANDING SHOPPING CENTRE DEVELOPMENT LAND INDUSTRIAL ESTATES WITH 3RD READING APPROVAL BUILDING IN BURNABY WESTBANK SHOPPING CENTRE BEAUMONT LAKES SOUTH, EDMONTON, AB 5363 & 5368 273A STREET, LANGLEY 19684 & 19724 32ND AVENUE, LANGLEY 4098 MCCONNELL DRIVE, BURNABY SITE (±30 ACRES) A B • GLA: 73,898 sf; Lot Size: 8.6 acres • Beaumont Alberta - Prominent location • 5363 273A St.: 23,794 sf (Warehouse/Office/Mezz) • 30 Single Family lots (min. 7,000 sfr per lot) • Mixed office/warehouse in the Winston industrial • Leasehold interest with 74 years left • 30 acres - Commercial & Residential uses • 5368 273A St.: 12,686 sf (Warehouse/Office/Mezz) • Subject site demolished and cleaned corridor of North Burnaby on a prepaid lease • ±165,000 per acre • 24’ & 26’ ceiling heights • RD-1D • 33,140 sf building on 1.54 acres of land • Tenanted by: Landmark Cinemas, Tim Hortons, • Price reduced to $800,000 • Ample turning radius & enclosed storage • Please contact listing agents for pricing • Zoned M5 - light industrial district White Spot and TD Bank with fence • Asking Price $11,000,000 PETER GIBSON* HARPREET SINGH* | MICHAEL HARDY* KEVIN MEIKLE*** | EDGAR BUKSEVICS* HARPREET SINGH* BILL HOBBS* | DAVID POTTINGER BILL RANDALL* JORDAN SENGARA* | RON EMERSON NEWLY RENOVATED INDUSTRIAL INVESTMENT ±3.8 ACRE INDUSTRIAL DEVELOPMENT BRAND NEW STRATA UNITS IN ±16.87 ACRES DEVELOPMENT APARTMENT BUILDING OPPORTUNITY WITH UPSIDE OPPORTUNITY FOR SALE PORT KELLS SITE IN CLAYBURN AREA LIMERICK APARTMENTS - 5450 204TH ST, LANGLEY 19473 FRASER WAY, PITT MEADOWS 31401 GILL AVENUE, MISSION 19715 96TH AVENUE, LANGLEY 34992 BATEMAN ROAD, ABBOTSFORD • 41,382 sf / 0.95 acre property • 51,869 sf in 2 units • Excellent and rare opportunity • 9,480 sf - 11,886 sf available • Potential for Single Family lots • 3 storeys, 39 suites and 27,267 sf • Excellent parking; New roof; Loading; Yard areas • Busy corridor of Abbotsford • Dock and grade loading • Next to a well developed area of net rentable area • Below market rents • Secondary Commercial (OCP); Mill Lake (NCP) • Exposure to 96th Avenue and Telegraph Trail • Zone CR • Asking Price $7,600,000 • Sale Price $9,800,000 • Please contact listing agent for pricing • Asking Price $300 psf • Asking Price $3,500,000 DON DUNCAN* | CHRIS DRIVER* RICK EASTMAN* HARPREET SINGH* ANDREW GREEN* HARPREET SINGH* FOR SALE FULLY TENANTED METROTOWN DEVELOPMENT RARE FREESTANDING FOR SALE - 168.7 ACRES THE DUNCAN COURTHOUSE INDUSTRIAL PROPERTY OPPORTUNITY FOR SALE INDUSTRIAL INVESTMENT WITH RENTAL INCOME 238 GOVERNMENT STREET, DUNCAN, BC CLOVERDALE INVESTMENT PROPERTY 5105 KINGSWAY, BURNABY 1940 BROADWAY STREET, PORT COQUITLAM 2575 ALASKA HIGHWAY, FORT NELSON, BC REDUCED • Opportunity to purchase a well maintained • 22,500 sf freestanding manufacturing/ • OCP: Metrotown, Marlborough • 5 year lease expiring 2021 provincial government tenanted Courthouse distribution warehouse • Sub Area: High density mixed-use • Great traffic exposure • 11,000 sf building on 168.7 acres and office buildings (includes office, coffee room & a parts room) • Dock and grade loading; Fenced compound • Site Area: 9,532 sf • One block from Coast Meridian Overpass • 10 year leases in place; leasable area is 30,047 sf • Current lease rate is $273,900 net per annum • Strong International Covenant • Multi-tenant building with holding income • Sale Price $2,250,000 • Cap rate 5.27% for the building and 20 acres • Please contact agents for listing price • Reduced Price $7,988,888 • Asking Price $4,900,000 ANNE TANNER* | ADAM FRIZZELL BILL HOBBS* CRAIG HAZIZA** | KYLE WILSON RICK EASTMAN* | KEVIN VOLZ* BILL RANDALL* FOR SALE: PRIME WESTSIDE PRIME CORNER BRAND NEW STRATA FOR SALE TWO LIQUOR STORES INVESTMENT PROPERTY RETAIL BUILDING WAREHOUSE DEVELOPMENT 250 HIGHWAY 97A VERNON/SPALLUMCHEEN, BC FORT ST. JOHN, BC 3496 DUNBAR STREET, VANCOUVER 615 TWELFTH STREET, NEW WESTMINSTER 580 NICOLA AVENUE, PORT COQUITLAM • Corner lot - Dunbar Street & West 19th Avenue • Lot size: 4,698 sf • Unit sizes from 1,845 sf up to 68,724 sf • Located in Spallumcheen Valley • Highly desirable Westside street • Building size: 3,444 sf • Rear grade loading to each unit • 112 acres • Land, building and business • Walking distance to schools, parks and shops • Zoning C2-A (4 storey development potential) • Construction completion approximately • Industrial zoning • NOI $873,629 • $4,980,000 November 2018 • Asking $4,500,000 • Price $7,700,000 • Presale pricing now available • Cap Rate: 11.43% ERIC WALKER | ADAM FRIZZELL BOE IRAVANI* ALEX CHRONAKIS KEVIN VOLZ* | ANDREW GREEN* BILL RANDALL* | ERIC RICE 604 683 3111 / cushmanwakefield.com *Personal Real Estate Corporation / **Craig Haziza is licensed with CAH Realty Inc. and has a contractual relationship with Cushman & Wakefield Ltd. ***Kevin Meikle is licensed with K.H.M. Realty Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. / ****Sean Ungemach is licensed with SBU Realty Advisors Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. / E.&O.E.: This communication is not intended to cause or induce breach of an existing agency agreement. The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Cushman & Wakefield Ltd. VANCOUVER | LOWER MAINLAND | VANCOUVER ISLAND Contents | OCTOBER 2017 OPINIONS & FEATURES NEWS & COMMENT WESTERN PERSPECTIVE 6 Housing analytics point to price drop Frank O’Brien, Western Analyst says 40-year trend line can’t be ignored 12 Investor editor, says Ottawa Small businesses fear tax change basks in strong job numbers Banking profits, income sprinkling in gun sights 16 yet attacks the very sector that is creating the most jobs New West’s quirky commercial real estate Gambling, trampoline park among new plays 20 QUALIFYING A FRANCHISEE 18 Done Deals Business broker Ken Withers What sold and for how much in Western Canada 26 offers tips