www.naicommercial.ca Commercial Real Estate Services, Worldwide.
LAND DEVELOPMENT OPPORTUNITY Development Opportunity ÕÃiÃÃÊ7Ì Ê*À«iÀÌÞDevelopment Land - 30+ac. Ì UÊÊ V>Ìi`ÊÊ >}iÞÊi>ÀÊÓää Ê-Ì°Ê n°xÊ>VÀiÃ]ÊxäÊÌà iÊ«ÕÃÊÕÌÊ7ÀiV}Ê 7iÃÌÃÞ`iÊ,>`]Ê >«Ã ÌiÀV >}iÊEÊ`iÊ >ÀÃÊ À`}i ,i>`ÞÊvÀÊVÃÌÀÕVÌ Î]£ääÊÃvÊ iÊÊÓ°xÊ>VÀiÃÊ ÓÓ°Ç>VÊÊäÊÕÌÃÊ«À«Ãi` VANCOUVER • LOWER MAINLAND • VANCOUVER ISLAND SECTION $4.29 MAY 2010 Vol. 25/Issue 5 UÊÊ/ÜÊLVÃÊvÀÊ7iÃ}ÀÕ«½ÃÊ>ÌiÜ>ÞÊ *ÃÃLiÊÌÊ6iÌÕÀi Î]ÈääÊÃvÊà «ÊÊΰxÊ>VÀià ÌÞÊÃÕ««ÀÌÃÊ, £ ÓääÊ*ÀiVÌ ÀÊÌÀ>`iÊÊ-iV iÌ]Ê ÛiÉ7ÀÊÊ Ü]Ê Ç°>VÊqÊÜÃÊ 7É UÊÓ°{£ÊÌÊ£{ÊVÀiÃÊÊ $1,890,000 REDUCED! $1,950,000 $1,623,000 19 ROLLOVERS UÊ-iÀÛViÃÊi>ÀÊÃÌi Land only or Build to Suit AID HOTELIERS UÊÊ`i>ÊvÀÊ } ÌÊ`ÕÃÌÀ>ÊÊ -ivÊ-ÌÀ>}iÊÊ-iV iÌ ÕÌÊq/i>ÌÊ*À«iÀÌÞ £{ÊÕÌÃÊΰÈÊ>VÀià i>ÛÞÊ`ÕÃÌÀ>ÊÊ}>ÃÃâÊ À>ÃiÀÊÜÞ]Ê >}iÞ ÕÃiÃÃÊ*>ÀÊ>««V>Ìà Tax break slim wedge ÓxÊÞi>ÀÊi>ÃiÊÜÉ«Ì 1«ÊÌÊ££>V°ÊqÊÊÈääÊ>«Ê«ÜÀ°Ê ÓÊV°]Ê£ÊÀiðÊÕÌÊ UÊÊÃ}ÊfnÎäÊ«iÀÊ>VÀiÊÜÌ Ê `}Ê ,ÊÌÊ Ý«>` "ÜiÀÊÜÊ Õ`ÊÌÊ-ÕÌÊ ÕÌÕÀiÊ`iÛi«iÌ into troubled market Vi $975,000 $600/mo/acre net(land only) fnä]äääÊ ▲ Avison Young principal ALEEM THAVER ÀÊÀiÊvÀ>ÌÊÊÌ iÃiÊ«À«iÀÌiÃÊÀÊvÀÊ>ÊvÀiiÊiÛ>Õ>ÌÊvÊÞÕÀÊLÕÃiÃÃÊÀÊ«À«iÀÌÞÊ«i>ÃiÊVÌ>VÌRobert Greer: Burrard 778-882-2546 KEN KIERS or KEN HICK604-534-7974 or 1-800-890-9855 property only hotel sale in [email protected] iÀÃJ>ViÀV>°V>ÊUÊi J>ViÀV>°V> Vancouver in 12 months
MERRITT, BC OPPORTUNITIES 9 B.C.’S REAL POWER PLAYS MINI-STORAGE ON 1 ACRE PARCEL 967 ACRES UÊ£ÎÓÊÕÌÊ-iv-ÌÀ>}iÊ>VÌÞ UÊ<i`Ê,iðʳÊ`ÕÃÌÀ> Regional hospitals UÊ ÕÀÀiÌÞÊ«iÀ>Ì}Ê>ÌÊi>ÀÊ£ää¯ÊVVÕ«>VÞÊÊ UÊ£xÊ°ÊÌÊ iÀÀÌÌ Now Asking Only $8 Mil UÊ iÌÊ«iÀ>Ì}ÊViÊvÊf££]ÇÓ +/- 300 ACRES deliver bigger boost Asking $1.475 Mil FOR LEASE: 8,459 SQ. FT. SHOWROOM & W/H UÊÊ ÕÀÀiÌÞÊâi`Ê £äÊ-«iV>Ê ÛiÌÃÊUÊ ÌÞÊÃiÀÛVià U Rate: $5.50 s.f. Base than mills or mines MULTI-FAMILY DEVELOPMENT SITE UÊÊ*ÌiÌ>ÊÀiâiÊÌÊÓÊ>VÀiÊiÃÌ>ÌiÃÊÊÊ$5.9 Mil plus $2.50 s.f. T.N. UÊÊ"««ÀÌÕÌÞÊÌÊ`iÛi«Ê>ÊxÎÊÕÌÊ/Ü iÊ«ÀiVÌÊ 11.4 ACRE COMMERCIAL SITE UÊÊ°£nÊ>VÀiÃÊ £Ê } ÌÊ`ÕÃÌÀ>Ê>`ÊÊ Ê{°£Ê>VÀiÃÊUÊ<i`]ÊÃiÀÛVi`ÊEÊÀi>`ÞÊÌÊ} UÊÊ-ÕÌ>LiÊvÀÊ }Ê Ý]Ê-ÌÀ«Ê >]Ê Ìi°ÊÊÊ$3.99 Mil i>ÀÊ7> >ÀÌ°ÊÊ 29 NANAIMO’S UÊÀi>ÌÊÛ>iÞÊÛiÜÃÊÊÊOnly $899,000 Try Offers INVESTMENT BUILDING UÊÊ >V}ÊÌÊÀ«ÀÌÊ,ÕÜ>ÞÊÜÌ ÊÌÃÊvÊ LANDSCAPE SUPPLY BUSINESS MIXED MESSAGE UÊÊx]{ÎÎÊõ°ÊvÌ°ÊLÕ`}°Ê-«ÀiÀi`°Ê À>ÜÊë>Vi°Ê/L>ÀÊ vÀÌ>}iÊÊÀ«ÀÌÊ,>`°Ê UÊÊ ÀVÃ]ÊLVÃ]Ê«>ÛiÀÃ]ÊÀVÃ]ÊvÕÌ>Ã]ÊiÌV° Vi}ÃÊÌ ÀÕ} ÕÌ°ÊÊÊAsking $799,000 UÊÊ-ÕÌ>LiÊvÀÊ>ÞÊÕÃiÃÊVÕ`}Ê Harmac mill back but UÊÊLÕÃiÃÃÊÛiÌÀÞÊEÊiµÕ«iÌ ÃÌÀLÕÌÉ >Õv>VÌÕÀ}Ê7>Ài ÕÃ}]Ê UÊÀi>ÌÊ««ÀÌÕÌÞÊÌÊ>``ÊÕÀÃiÀÞÊLÕÃiÃà 2 SERVICE COMMERCIAL LOTSÊ ,6Ê->iÃÊ>`Ê-iÀÛVi]ÊiÌV°Ê killed tower punches Asking $169,000 $199,000 EACH UÊä°{ÇÊ>VÀiÃÊi>V °ÊÊÊ Asking only $899,000 hole in downtown plan CHRIS LANGHAUG 604-534-7974 or s [email protected]
COMMERCIAL FOR LEASE INDUSTRIAL WAREHOUSE/OFFICE INDUSTRIAL BUSINESS PARK SPECIAL SECTION • B18 HIGHWAY FRONTAGE LAND FOR SALE – SURREY, BC HOT PROPERTIES RECREATIONALRECECREATIOI NAL REALREAL ESTATEESTATE 6 ACRES, LANGLEY, BC UÊ Ìi`Ê-Õ««Þ UÊ<i`Ê ÊqÊ ÕÃiÃÃÊ*>À UÊfÓÇä]äääʳÉÊ>Õ>ÊVÕÀÀiÌÊiÌÊVi UÊÓä]äääÊõ°vÌ°Ê7>Ài ÕÃiÉvwVi UÊ ÀiÀÊÌÊÜÌ Ê}Ài>ÌÊiÝ«ÃÕÀi UÊ i>]Ê«iÊ«> UÊ ÝViiÌÊ`}É iÛi«iÌÊ-Ìi UÊ*>VwVÊ} Ü>ÞÊ£xÊV>Ì UÊÀÃÌÊV>ÃÃÊvwViÊë>Vi UÊ ÎÊâi`]ÊvÕÞÊÃiÀÛVi` UÊ`i>ÊvÀÊ"vwViÉ7>Ài ÕÃiÊÕÃià PUBLICATIONS MAIL AGREEMENT 40069240 UÊÎÊÛiÀ i>`Ê`ÀÃÊUÊi>ÛÞÊ«ÜiÀ RETURN UNDELIVERABLE CANADIAN UÊ$6.6 million $2,050,000 ADDRESSES TO CIRCULATION DEPARTMENT: UÊ*ÀiÊ-ÕÀÀiÞÉ >}iÞÊV>Ì UÊ 102 EAST 4TH AVENUE, VANCOUVER, B.C. V5T 1G2 UÊ i>ÃiÊÀ>ÌiÊfÇ°ääÊõ°vÌ°ÊiÌ DONMACDONALD, CCIM or KEN KIERS DONMACDONALD, CCIM DONMACDONALD, CCIM 604-514-6824 or 1-800-890-9855 604-514-6824 or 1-800-890-9855 604-514-6824 or 1-800-890-9855 Outstanding 48,600 sf Warehouse `>VJ>ViÀV>°V>ÊÊUÊÊiÀÃJ>ViÀV>°V>[email protected] [email protected] on Six Plus Acres Located twelve minutes south of the border on I-5, and nestled within the largest privately-owned warehouse community north of Everett. For our online brochure and info on other properties available, visit Build on the Power of Our Network. Over 325 Offices Worldwide. www.copaccenter.com or call 1-360-366-3357 A2 Lower Mainland www.westerninvestor.com MAY 2010 WESTERN INVESTOR
VERNON MOBILE HOME OKANAGAN TERRACE FREEHOLD LAND AT INVESTMENT OPPORTUNITY: 3.04 ACRE DEVELOPMENT FOR SALE - FREESTANDING PARK MANUFACTURED HOME PARK ABBOTSFORD AIRPORT 7700 VANTAGE WAY, DELTA B.C. SITE, MAPLE RIDGE BUILDING WITH YARD
O CA 6D O Great multi-family site O B?14G1I*DB55D '?BD?AE9D<1= O 13B5C O Half block from Haney Place Mall O CA 6D ?> 13B5 O#?31D54=9> 6B?= ?G>D?G>-5B>?> O-5B>?> OD5>1>395C O Good holding income O 13B5C6?BC1<5 O'1F541>465>354 O'14C@ O CA ft. retail O CA 6D =1>E613DEB9>76139<9DI?> s O+G?<571<D9D<5C O>38?B542I*165G1I1>4*8?@@5B Located in New Westminster near 13B5C O! $1B;5D@<1351>38?B54*8?@@9>7 Drug Mart O OC;9>7 Centre transit and all amenities OE9<49>785978D?6 O "9>7CG1I EB>12I O @C6 O B?CC#51C12<5B51?6 CA 6D O B51DF95GC?6D85B9F5B O 51FI @81C5@?G5B O?B>5B*DB1D1'B?@5BDI O+?D1<1B51 CA 6D ! 0?>9>7 O 31@B1D5 O*9D51B51?6 13B5C O Well maintained, new torch on roof OC;9>7 9>3 O%?BD8 B1C5B.1I O $1E781>)?14 %1>19=? OE<<5BF5>E5 EB>12I O?B>5B@B?@5BDI >D9B52D1CD93-95GC C O'19>D54)?3;.9>5BI '5>D93D?> O CA 6D O@1B35 O Prime corner site aDD8*DB55D1>4 O4?3;7B1454??BC OB9D5G1C81BG1C89>7*ICD5=C!>3 O >4F5>E5 *EBB5I O#1B751I*DB1D1,>9DC O CA 6D M5H ?6L356139<9DI D8F5>E5 OPN3<51B O 13B5C1D 1CD9>7C EB>12I O CA 6D O CA 6D CA 6D OD5>1>395C O CA 6D C9D51>4 CA 6D O,@D?13B5C5HD5B>1<@1B;9>71B51 O EDEB545F5D@?D5>D91< O 13B5 O ?3;1>47B1457 O,@D? C61 vailable for user building O EDEB5=E O<1B; B -5>12<5C1B51 O. B4F5>E5 -1>3?EF5B O .D8F5>E5 -1>3?EF5B O%5G C69>4ECDB91<2E9<49>7?> 13 OCDB1D13?==5B391<B5D19<E>9DC O )?2C?>*DB55D -1>3?EF5B O2E9<49>7CD?D1<9>7 CA 6D O CA 6D ?6L352E9<49>7 O.5<<"9DC9<1>? OI51B<51C59>@<135G9D81CDB?>79>D5B>1D9?>1< O E<9>7 O0?>9>7! ! O$9>ED5CD?4?G>D?G>*?ED8 B1>F9<<5C8?@@9>7 OB??=3?>3B5D58?D5<?>)?2C?>*DB55D tenant O D? CA 6D 1F19<12<56?B O'EB381C9>7@B935 O)5>D1<9>3?=5G9D8@?D5>D91<D?C5<<1C O)5D19<?>7B?E>4M??B O $ B5DEB> O lease condominiums OC;9>7 O?>D13D<9CD9>7175>D6?B@B939>71>49>3?=5 O H35<<5>D?G>5BEC5B?@@?BDE>9DI OC;9>7 structure GREG MILES / DAVID CANNING DAVID POTTINGER DON DUNCAN / CHRIS DRIVER/ DON DUNCAN / CHRIS DRIVER / WILLIAM N. HOBBS ERIC WALKER BRETT AURA BRETT AURA PERSONAL REAL ESTATE CORP. Vancouver Office 604.683.3111 The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, it is not guaranteed by Cushman & Wakefield. Kevin Meikle is licensed with K.H.M. Realty Ltd. and has a contractual relationship with Cushman & Wakefield. Peter Gibson is licensed with R.P.G. Realty Advisors Inc. and has a contractual relationship with Cushman & Wakefield. *Craig Haziza is licensed with CAH Realty Inc. and has a contractual relationship with Cushman & Wakefield Inc. *Mark Trepp is licensed with Foremara Holdings Corp and has a contractual relationship with Cushman Wakefield Inc. “Martin Delafontaine is licensed with Martin Delafontaine Realty Inc. and has a contractual relationship with Cushman & Wakefield Inc.” $0/5&/54.": 7"/$067&3 -08&3 ."*/-"/% 7"/$067&3 *4-"/% 4&$5*0/ 41&$*"-4&$5*0/ # On the cover FEATURES HOT PROPERTIES Robert Greer, principal with Avision Young: Burrard 3&$3&"5*0/"-3&"-&45"5& property only hotel sale in Vancouver in a year. Photo: Richard Lam 19 0/5)&$07&3#JHQMBZFSTDIFDLJOHIPUFMEFBMT Foreclosures, falling occupancies create market bargains "%7&35*4*/(:%*3&$503 25 4PBSJOHMBOEQSJDFTQVTIIJHIFSEFOTJUZSFUBJM 2–26 -08&3."*/-"/% At $1 million per acre, CRUs must replace open parking lots 3&"-&45"5& #64*/&440110356/*5*&4 29 /BOBJNPDIFFSTOFXNJMM MPTFTCJHUPXFS 11 4&37*$&4 Commercial realtors still confident hub city on the rebound 27 4&"504,:46/4)*/& Download a PDF of all our Regional Roundups online at www.westerninvestor.com $0"453&(*0/ 31 %FBUIBOEUBYFTIBWFOFXNFBOJOHXJUI)45 28–35 7"/$067&3*4-"/% Funeral parlours among small biz fearful of tax regulations 3&"-&45"5& #64*/&440110356/*5*&4 COLUMNS .03&0110356/*5*&4 6 8&45&3/1&341&$5*7& */5&3*03#$ "-#&35" 35 8)"5¤4)"11&/*/(*/#3*5*4)$0-6.#*" 05)&31307*/$&4 '3"/$)*4&4 4&&4&$5*0/# 604-669-8500 or 1-800-661-6988 fax: 604-669-2154 [email protected] www.westerninvestor.com 102 East 4th Avenue, Vancouver, B.C. V5T 1G2 new industrial building for sale $2,375,000 20,000 sf new industrial building, 12 miles South of the Border. Lease guaranteed for 12 months by owner. $13,500 per month plus property taxes, insurance and utilities (sewer, water & power). usda approved meat processing plant Priced to sell at $1,525,000 Located in Lynden, very successful business. Price includes 5 acres, home, outbuilding and neat & clean processing plant. New equipment, freezers, plus new plant improvements. For additional information, call the office. RON BENNETT COMMERCIAL REAL ESTATE Ron Bennett (USN Ret.) / Owner - Broker 1-360-671-9440 U www.RonBennett.com COMMERCIAL LANGLEY CHILLIWACK ACREAGE LANGLEY (WILLOUGHBY) SURREY INDUSTRIAL 27449, 27465, 27571 60TH 13.9 ACRES, HWY 1 TWO PARCELS LOCATED WITHIN 188TH STREET AND 80TH AVE. & 6028 272ND ST. 4 EXPOSURE. RAPIDLY DEVELOPING YORKSON AVENUE SURREY TITLES (ONE WITH BEAUTIFUL LOG CHILLIWACK NP 1ST PARCEL: 2.5 ACRES POTENTIAL M4/M6 IND. 4.915 ACRES WITH FUTURE 2.3 ACRES CORNER OF HOME), CLOSE PROXIMITY TO 51140 RUDDOCK ROAD DESIGNATED TOWNHOUSE (15- ZONING ND POTENTIAL BOLIVAR & 112 ST. ZONED IND. PARK, 5 RESIDENCES, 27.098 ACRES WITH 25 UPA) 2 PARCEL: 2.42 SUBDIVIDE AND CHI (HWY. COMM.) RENTAL INCOME, GREAT HOLD! ACRES DESIGNATED RESIDEN- BUILD TO SUIT POTENTIAL FOR 11 LOTS! $2,750,000 READY TO GO $3,950,000 TIAL 8-10 UPA SURREY MAPLE RIDGE CHILLIWACK LANGLEY LANGLEY FOR LEASE 4.83 ACRES 21 ACRES DESIGNATED (IL) 10,935 SQUARE FOOT COM- 48TH AVENUE & 216TH 24 AVE. & 196 ST. NEXT TO CAMPBELL HEIGHTS LIGHT INDUSTRIAL, HWY MERCIAL BUILDING LOCATED STREET S. SURREY BUS. OFFICE PARK. CHILLIWACK DESIGNATED BUSINESS FRONTAGE, RIVER FRONTAGE, ON A 0.55 ACRE PARCEL TWO 22 ACRE PARCELS! +/- 2.16 ACRES S. BROOK- +/- 2,484 SQ.FT. OF OFFICE PARK HIGH END BUSINESS PARK- (CONSISTING OF 0.369 ACRES SWOOD AREA DESIGNATED SHOWROOM/OFFICE/MEZZANINE HIGHLY EXPOSED 32 AVE. FOR SALE/ LEASE – – 45860 CHEAM AVENUE MOBILE HOME PARK W/ A COMMERCIAL/INDUSTRIAL $3,150,000 BUILD TO SUIT!!! & 0.1848 ACRES – 9070 MAX DENSITY +/-8 UPA BIRCH ST.). THE PROPERTY ZONING EXCELLENT HIGHWAY AGASSIZ CHILLIWACK OFFERS ON-SITE PARKING LANGLEY SURREY EXPOSURE! +/- 14,410 SQ. FT. FULLY 17,000 SQ FOOT COMMER- AND GOOD TRAFFIC COUNT. 27691 DOWNES ROAD 13924 56TH AVENUE 9 STALLS SHARED PARKING LEASED COMMERCIAL BUILDING CIAL RETAIL & RESIDENTIAL THE BUILDING CONSISTS OF 26 ACRES WITH LARGE 4.225 ACRES FENCED COMPOUND ON +/- 0.274 ACRE. ZONED SUITE ZONED C-3 TOWN 3 OFFICE ORIENTED LEASE SHOP AND BARN POTENTIAL FOR 8 LOTS! CT-1 TOWN CENTRE COMM. CENTRE COMMERCIAL LO- SPACES (CURRENT LEASES ARE $1.4M CATED IN CENTRAL CHILLI- IN PLACE) WACK FOR SALE ✓ VALUE FOR $ ✓ GOOD RETURN ✓ TENANT COVENANT ✓ UPSIDE ✓ CAREFREE 604-817-7338 fax 604-888-3261 CALL Don Munro SUTTON GROUP WEST COAST REALTY [email protected] A4 Lower Mainland www.westerninvestor.com MAY 2010 WESTERN INVESTOR NEIGHBOURHOOD PUB MAURYA RESTAURANT BLDG Colliers International GREATER VANCOUVER 1641, 1643 W Broadway, Van 85 seats grossing $100,000/mo for 14 years NOI 137,280 Rent goes up by Investment Opportunities Reasonable lease rate for next 12 years Vendor may carry up to 50% 10% in 2012 Res. Studio suite + TEL: 604.681.4111 Asking Price: $899,999 1 car parking for owner MULTIFAMILY Asking $ 3.75 Million SOUTH SURREY FAMILY 33 West Hastings Street Vancouver, BC 1419 Pendrell Street Vancouver, BC BRAND NEW BUILDING Pendrell Suites PARADISE 5860 SF ANCHORED BY 7-ELEVEN 10 br, 8 baths, 3 kitchens and squash court 14410-108 AVE, Surrey The must see PLA to subdivide one half acre lot off 1.17 acre West End listing 31 SRA units Coming Soon without changing existing house Projected NOI 165,000 of the year! and ±3,000 SF Asking $1,500,000 Asking $ 3.35 Million of retail space. A classic, always Heart of Gastown. Peter Zebroff PLAZA NEXT TO CORNER OF admired, rarely ROYAL PACIFIC REALTY CORP seen, until now! 604 202 0424 72AVE & 120ST www.zebroff.com Concrete tilt up, CD Zoned, [email protected] 1.683 Acres, 32,000 SF Built-up, Steve Fame $1,988,000 Steve Fame Sale John Gee 85 parking stalls @6.5% cap BUSINESSES FOR SALE Asking $7,200,000.00 795 Keefer Street Vancouver, BC 50610 Trans Canada Highway Health Fast Food V/W ...... REDUCED $79,900 Boston Bar, BC BRAND NEW IL ZONED Sports Retail Store F/T ...... TOO$59,900 LATE WAREHOUSE 3 properties, Pita Restaurant W/R ...... $149,000TOO LATE 4029 SF, Bodyshop/automobile OK 12 units, 40 mobile home strathcona pads, 3 RV pads Industrial Equipment & Supplies RESTAURANTS FOR SALE triple play. all located on a B/S includes inventory ...... $235,000 a) W Broadway $225,000 6.47% projected 25.5 acre setting. yield. Salad Loop F/T ...... $269,000 b) Robson ST $175,000 Commercial Computer, Sales REDUCED C-STORE WITH PRODUCE + DELI & Service Partnership ...... $285,000 5791, 176th ST, Cloverdale Owen Yates $2,795,000 Steve Fame $1,388,000 John Gee Food Manufacurer/Distributor $3 - 3500 daily sales with or w/ L/M ...... $438,000 out Prop Asking $199,000 COURT ORDERED SALES TEL: 604.681.4111 Quality Boat Manufacturer .... $458,000 3993, HASTINGS ST, BNB Panorama Ridge Surrey, BC Albion Slopes Maple Ridge, BC Major Restaurant Franchise C-Store daily $ 2-2200 W/R ...... $650,000 Asking $88,000 4.05 Acres, Industrial Land OFFICE/RETAIL SPACE S/S ...... $3.68 Mil FOR LEASE Reduced Price 12.1 Acres, Whistler ...... $1.0 Mil JAVA HUT FRANCHISE FOR INVESTOR WANTS BUSINESS WITH SALE #304, 6361 152ND MINIMUM ASSETS OF $35 MILLION STSurrey Asking $350,000.00 9.26 acre residential land opportunity in 38.5 acre single family and multifamily ASK ABOUT OTHERS Panorama Ridge area. development site. FAST FOOD FRANCHISE TO BUY OR SELL YOUR BUSINESS Sam Nakhleh* Manjit Claire, Morgan Dyer OR PROPERTY CALL RESTAURANT FOR SALE $4,900,000 Jas Sandhu Sale Hart Buck IN DELTA Asking $435,000 NEED QUALITY LISTINGS 760 Queens Street Victoria, BC 9685 Agur Street Summerland, BC ALL TYPES – HAVE BUYERS Contact Praveen Bajaj 778-858-0459 GARRY A. WAHL A.Sc.T. PRESIDENT of W.B.B.A., MEMBER, COMM. DIVI. [email protected] SUTTON GROUP- WEST COAST REALTY PH: (604) 230-6359 EMAIL: [email protected] FAX: (604) 531-2562 Coastal Rlty Ltd 87 unit hotel/apartment building on 30,000 SF industrial building ideal for 23,022 SF lot. manufacturing on 2.65 acre lot. Hart Buck Hart Buck $6,100,000 Grant Evans $2,795,000 Eric Weber* UNIQUE PROPERTIES Tel: 604.681.4111 WFP - South Island Portfolio Golden Eagle Shores Vernon, BC Vancouver Island, BC Forestry/recreational land portfolio 90 acres of waterfront on Okanagan Lake. with 34 titles. 4,600 acres. Development potential. Mark Lester*, John Boer Alan Johnson Sale Alan Johnson Sale Mark Lester* Port Sidney Marina Port Sidney, BC Kingzett Lake Vancouver Island, BC Premium full service marina with 568 acres of prime development land 35,000 lineal feet of moorage. on Vancouver Island. Mark Lester*, Alan Johnson Mark Lester* $22,500,000 Ken Cloak $6,950,000 Alan Johnson www.UNIQUEPROPERTIES.ca The Unique Properties Marketing Group is a team of experienced real estate professionals dedicated to providing superior brokerage and advisory services relating to specialty real estate assets including; private islands and waterfront estates, exclusive ranch properties, agricultural portfolios, resort and recreational properties, golf courses, ski resorts, marinas, timber and resource properties, land development opportunities and much more. * Personal Real Estate Corporation. PO#10920 www.colliers.com/vancouver WESTERN INVESTOR MAY 2010 www.westerninvestor.com Lower Mainland A5 APARTMENT BUILDING SPECIALIST KITSILANO NEW WESTMINSTER ALDERGROVE 22 Units – Walk to beach 22 Units – Near Skytrain 11 Units Commercial/Residential Mix Sought after location Owner operated 30 years Recently renovated Gross Income $284,705 Gross Income $216,917 Gross Income $88,704 PORT ALBERNI LANGLEY EAST VANCOUVER 11 Units – Totally renovated Stable tenant base Gross Income 37 Units – 2 buildings 14 - 2 Bedroom Units $111,672 Downtown central location Balconies, garages, 5 appliances Excellent Cap Rate at 7.71% Gross Income $148,294 Plus many other listings! Visit our website at www.billgooldrealty.com for more information. SELLING YOUR COMMERCIAL PROPERTY? CALL us TODAY! 6 "*ÊUÊ 1 ÊUÊ- ,6 Lindsey Gauthier Angela Gauthier -* < Ê Ê/ Ê 6 "* /]Ê 604.798.2977 604.798.2970 1 Ê Ê- ,6 Ê"Ê- Ê Ê [email protected] [email protected] 1 / 9Ê " 1 / - ◆ Land use due diligence, preliminary design consulting 1 COMPLETE BLOCK CHILLIWACK/ AGASSIZ ◆ Pre-construction phase: estimating, scheduling and coordination COMMERCIAL STRIP MALL $750,000 7% CAP w/ excellent covenant of consultants CHILLIWACK Land: 8,407 sq ft (approximately) ◆ In-house team of professionals capable of managing multiple projects ÊÃ}ÊÊ$2,400,000 È°Ç¯Ê >« Building: approx 2,813 sq ft 12 tenants, fully leased UÊ £äÊ Þi>ÀÊ i>ÃiÊ ÜÌ Ê £äÊ Þi>ÀÊ «Ì] ◆ Extensive network of consultants, suppliers and sub trades Land: 32,661 sq ft (approximately) triple net lease. $4375/month triple. Building: 18,462 sq ft (approximately) UÊ ÕÀÀiÌÊViÀV>Ê>««À>Ã>Ê ÓäÊ9 ,-Ê"Ê 8* , Ê Ê 1 Ê- Ê 9]Ê $740,000. UÊVÕ`iÃÊ{ÊÌÌiÃ]Ê<}Ê Ó°Ê ÊÊiLÊÉ£äÊvÀÊ 1 /, - / ÊEÊ " , Ê*," /- 8705 YOUNG RD CHILLIWACK 30,000 credit back on next firm deal! www.canteragroup.com UÊ iÜÊ iÀV>É,iÌ>Ê1ÌÃÊÀÊ->iÊÊ9Õ}Ê,` UÊ £ÇÊÕÌÃ°Ê ÕÌ«iÊÕÌÃÊ>Û>>LiÊ>««ÀÝÊÇ{ÈÊõÊvÌÊqÊnÈÈÎÊõÊvÌ 9ÕÀÊ*ÀiVÌÊ-Ì>ÀÌÃÊiÀi UÊ ÀiiÃÌ>`}Ê Õ`}ÊÓÊ}Ài>ÌÊvÀÊÀiÃÌ>ÕÀ>Ì]ÊëÀÌÃÊÀÊVÌ }ÊÃÌÀi UÊ Ài>ÌÊ««ÀÌÕÌÞÊvÀÊ>ÊLÕÃiÃÃÊÜiÀÊÌÊÜÊÌ iÀÊÜÊÕÌ°Ê UÊ iÌÊÊ>ÌÊÌ iÊ}ÀÕ`ÊvÀÊEÊ«VÊÞÕÀÊÕÌÊÌ`>Þ°ÊÀi>ÌÊ«ÀVið Contact: CHILLIWACK DARREN JOHNSON Building 1 Unit SQFT Price 101 809 SOLD Building 2 102 809 SOLD Unit SQFT Price 604.888.1717 103 809 $199,000 201 1809 $556,000 email: 104 746 $183,000 [email protected] Building 3 Building 4 Unit SQFT Price Unit SQFT Price 301 1018 $282,000 401 1666 $410,000 302 899 $220,000 402 1081 $249,000 ANDY ADAMS PETER ADAMS 303 899 $220,000 403 1201 $277,000 304 899 $220,000 404 1081 $249,000 604-273-3155 CHILLIWACK Laundromat and Car Wash ...... $49,000 Priced to sell YOUR Cash business, 22 washers, 19 dryers, 3 bay car wash, pet wash BUSINESS Vendor motivated. Owner retiring. Assets only (No books) HERE! Call TODAY LEASE SPACE for our 9256 Main St 1200 sqft $1,000/mo 46263 Yale Rd 800 sqft $900/mo 2 Auto Repair Centres Richmond Grocery / Historic Steveston in Richmond complimentary 9248 (B) Main St 650 sqft $550/mo 46260 Yale Rd 1800sqft $1800/mo Convenience Store Established Connected to major oil marketing Busy Corner Location Ice Cream Shoppe 9242(A) Main St 1000 sqft $900/mo co. Buy separately or take Next to Large Ready for Summer both! $250,000/$275,000 package! new Daycare! sutton group - showplace realty ltd. 1-888-355-6771 Suttoncommercial.ca Qualifi ed Clients Looking for Strip Malls, Pubs and Acreages A6 Lower Mainland www.westerninvestor.com MAY 2010 WESTERN INVESTOR Publisher Cheryl Carter Editor Frank O’Brien Con- )45DPVMENBLF#$BQSPWJODFPGPVUMBXT tributing Writers, Susan M. Boyce, Dave f the B.C. government proceeds The law-breaking is already blatant. It The HST has many crime-inducing Husdal, Geoff Kirbyson, Glen Korstrom, Peter with the planned introduction of is illegal, for instance, to advertise that con- wrinkles. Some B.C. condominium inves- Mitham, Kevan O’Brien, Andrew Petrozzi, Stephen Pyle, Joe Ralko, Copy Editor Baila the 12 per cent harmonized sales sumers can “beat the HST” if they buy before tors, for instance, have pre-purchased new Lazarus Production Manager Rob Benac tax, it will create a province of out- July 1, yet such ads are running today across units to rent with the belief that they will be Production Natalie Reynolds, David Tong, laws. In fact scores of companies the province. able to qualify for the HST rebate on new Tanya Van Advertising Sales Manager are* already breaking the law and thousands Under expected changes to the “place- homes. But there is no guarantee. Would it Christine Campbell Advertising Sales Paul of consumers will likely join them when the of-supply-rules” it would be illegal to buy be possible that the builder could “live in” Douglas, Gary Takahashi Office Assistant Angela Foster Accounts Receivable Yvonne HST kicks in. materials in HST-exempt Alberta and bring the unit for a few months so it will qualify Posch Circulation Vera Irani, Newsstands A long-shot chance to kill the controver- them into B.C. without paying the tax. as a resale, exempt from the tax? After all, Globe Distribution Services Printed in Canada sial tax, led by former premier Bill Vander Also, someone in B.C. selling a prod- the HST on a new $700,000 townhouse is at Kodiak. Western Investor is published Zalm, has until June to amass uct into HST-free zones will $57,500, even after the $26,500 rebate. monthly by BIV Media Limited Partnership VANCOUVER – HEAD OFFICE: 102 East 4th 300,000 signatures under the likely have to charge the HST. It took very little imagination to bring 8&45&3/ Avenue, Vancouver, B.C. V5T 1G2 Subscriptions Recall and Initiative Act – 10 Or would a company set up in the HST. The real innovation will be seen and Advertising Sales Tel: 604-669-8500 per cent of registered voters 1&341&$5*7& a dummy address in another in the ways that consumers find to avoid it, Fax: 604-669-2154 Canada/U.S. toll-free: in each of B.C.’s 85 electoral province or country to avoid which, of course, we don’t recommend or 1-800-661-6988 Alberta, Saskatchewan & districts. We wish the canvassers well, but the tax? In Blaine, WA, for instance there are condone. Manitoba Advertising Sales toll-free: 1-888- 606-6267. Canadian publications mail product the odds are not in their favour, despite the already hundreds of post office boxes owned sales agreement #40069240, GST #105655567. fact that 80 per cent of B.C. residents oppose by Canadians, who may be tempted to use /&95.0/5) Copyright 2002. While every effort is made to the new tax. the U.S. address to avoid the HST. Western Investor presents a report on water- ensure the accuracy of articles and advertising Even if enough people sign on, the Planning a home renovation? If you hire front real estate – and there are some deals to that appear in each edition of Western Investor, Liberal government could use their major- a legitimate contractor, he or she will have be had. We also present a primer on buying the publisher may not be held responsible for any errors or omissions that may from time ity to kill the initiative if it ever comes to a to charge you 12 per cent, including the first foreclosures, update native land develop- to time occur. No part of this vote. provincial tax of 7 per cent on labour. “We ments and carry special recreational coverage publication may be quoted or So the HST will very likely come into expect a huge spike in underground renova- on fishing lodges. Our regional reporters file reprinted in any medium without effect in B.C. on July 1, and the illegal activi- tions,” a top Vancouver renovator told us, from Grande Prairie, Kamloops, Steinbach the express written permission of ties will begin. “people are already asking me if I will work and Ucluelet. BIV Media Limited Partnership. Many B.C. consumers, who have swal- [illegally] for all cash.” lowed the carbon tax and recent fee increases Want a haircut? It will cost you ADVERTISING DEADLINE on everything from hydro bills to camping 12 per cent more, unless you visit a FRANK O’BRIEN June 2010 issue: fees and ferry fares may feel that the HST is “friend” who will cut it for cash – and there EDITOR May 10, 2010 the last straw. will be a lot more of these friends around. [email protected] GET IN TOUCH WITH YOUR INNER PERFECTIONIST. 2010 Lexus ES 350 $ * MSRP 43,845 ** CASH PURCHASE $ ADJUSTMENT 3,000 CASH PURCHASE *** PRICE $ Includes Freight and PDI 40,845 YOUR NORTHSHORE LUXURY STORE Lease or Finance 1.9% 4 *MSRP for 2010 Lexus ES 350 sfx‘A’ is $43,845, which includes freight and PDI ($1895.). Battery, A/C and tire levies ($130), taxes, insurance and registration are extra. Cash Purchase price for ES 350 is ***$40,845 after cash discount of $3000. **3,000 Cash Incentive offer available on 2010 ES 350 models for all retail customers. $3000 cash purchase incentive is not available to customers who lease or purchase through Lexus Financial 604-982-0033 Services at a special rate of interest offered by Lexus as part of a low rate interest program. Lease and fi nance rates of 1.9% up to 48 months are based on approved credit. Offer expires at month’s end unless extended or revised. See Jim Pattison Lexus Northshore for complete details. www.jplexus.com D1130 phone: 604-290-2906 Bob Scragg email: [email protected] www.fraserpark.net VANCOUVER ESTATE Most prestigious estate in Vancouver VANCOUVER 3.5 Acres – 14,000 sq ft home. Indoor & outdoor pool, tennis court, 16 8 6-horse stable, ½ acre lake. 21 INDUSTRIAL LOTS $400,000 $16,500,000 WAREHOUSE for lease/sale 4,000 SQ FT WAREHOUSE $800,000 INDUSTRIAL RICHMOND 5 acres & 13 acres SCHOOL RICHMOND SURREY 17 Acres (rail) & 3 acres 1.7 Acres on two parcels (.85 Acres ea.) 7 Classrooms, gymnasium, playground. WHISTLER 16 Acres lease / option, View at www.fraserpark.net $2,750,000 WESTERN INVESTOR MAY 2010 www.westerninvestor.com Lower Mainland A7 For more information visit our website Vancouver Offi ce 604s687s7331 www.avisonyoung.com FEATURE LISTING FOR SALE – 7770 & 8398 North Fraser Way, Burnaby s 2ARE INDUSTRIAL DEVELOPMENT SITE FOR SALE / FOR LEASE s ACRES NON CONTIGUOUS s #$ -- :ONING 13450 Gateway Drive, 13479 108th Avenue, Surrey .BSL)BOOBI.BUU5IPNBT,ZMF#MZUI Gateway Business Park FOR SALE – 8424 Aitken Road, Chilliwack s 2ARE 3KY4RAIN $EVELOPMENT 3ITE s ACRES GROSS SITE AREA s ,OCATED ADJACENT THE 'ATEWAY 3KY4RAIN 3TATION s - (EAVY )NDUSTRIAL :ONING s STOP FROM 3URREY #ITY #ENTRE s s (IGH DENSITY MIXED USE ZONING s 3ITE SIZE n APPROXIMATELY SF .JDIBFM'BSSFMM+PIO&BLJO s 5P TO MILLION SF OF BUILDABLE AREA AVAILABLE FOR SALE – 144 & 174 176th Street, Surrey s !PPROVED $EVELOPMENT 0ERMIT !PPLICATION s #/524 /2$%2%$ 3!,% s /Fl CE RETAIL RESIDENTIAL USES APPROVED s ,OCATED AT 0ACIl C (WY TRUCK CROSSING s 0RE ,EASE "UILT TO 3UIT OPPORTUNITIES s ACRES WITH DEVELOPMENT POTENTIAL s *OINT 6ENTURE /PPORTUNITY s .JDIBFM'BSSFMM+PIO&BLJO s ,%%$ 'OLD $EVELOPMENT FOR SALE – 12294 104th Avenue, Surrey %BSSFMM)VSTU #JMM&MMJPUU s ACRES s SF METAL CLAD BUILDING s 3EVEN TENANTS WITH NET LEASES s EIVSTU!BZCDDPN CFMMJPUU!BZCDDPN .JDIBFM'BSSFMM+PIO&BLJO FOR SALE – 1518 Columbia Street, North Vancouver FOR SALE – 9771 186th Street, Surrey s #URRENTLY SEPARATED INTO UNITS s SF TO SF BUILDING s :ONED ) s 'EOTECH AND ENVIRONMENTAL REPORTS ARE AVAILABLE PRICE s s "UILDING CONCEPTS AVAILABLE REDUCED s 2.86 acres .BUU5IPNBT,ZMF#MZUI .JDIBFM'BSSFMM+PIO&BLJO SOLD – Burrard Motor Inn, Vancouver SOLD – 79 Acres of Residential Land s 2ETAIL(OTEL 0ROPERTY s ,OCATED ON THE BORDER OF 7EST 6ANCOUVER s ,ONG TERM RE DEVELOPMENT POTENTIAL s 3ITUATED ON THE 3EA TO 3KY (IGHWAY SOLD s 0RIME DOWNTOWN SITE SOLD s !MAZING VIEWS 3PC(SFFS.BSL)BOOBI.BUUIFX$SBJH 3PC(SFFS.BSL)BOOBI FOR SALE – 550 Denman Street, Vancouver FOR SALE – Chemainus Retail Properties, Chemainus s /WNER 5SER )NVESTMENT /PPORTUNITY s 4ENANTS INCLUDE "# ,IQUOR 3TORE 2EXALL $RUGS s 3PECTACULAR 7ATERFRONT ,OCATION )SLAND 3AVINGS #HEMAINUS &OODS s 4WO -ARINA 3LIPS !VAILABLE s #AP 2ATE s .BUU4BVOEFST .BUU4BVOEFST%PVHMBT.D.VSSBZ FOR SALE – 7217 Lantzville Road, Nanaimo FOR SALE - 22 Unit Multi-Family, Campbell River s ,ANTZVILLE 0LAZA 2ETAIL #ENTRE s 'REAT SUITE MIX s #AP 2ATE s 4ENANTS PAY FOR HOT WATER ELECTRICITY PRICE s 4ENANTS INCLUDE #ANADA 0OST $UNDEE 3ECURITIES PRICE s $1,200,000 REDUCED s REDUCED .BUU4BVOEFST 3PC(SFFS.BUU4BVOEFST FOR SALE – 92 East Hastings Street, Vancouver SOLD – 1115 Hornby Street, Vancouver s SF $EVELOPMENT 3ITE s $OWNTOWN 6ANCOUVER DEVELOPMENT SITE WITH s $OWNTOWN %ASTSIDE HOLDING INCOME n SF UNDER s %XISTING SF BUILDING SOLD s #LOSE PROXIMITY TO 3T 0AULS (OSPITAL AND THE CONTRACT s 7ALL #ENTRE COMPLEX .BSL)BOOBI3PC(SFFS .BSL)BOOBI3PC(SFFS FOR SALE – 1298 West 10th Avenue, Vancouver FOR SALE – 46278 Yale Road, Chilliwack s UNIT MULTI FAMILY APARTMENT BUILDING s %XCELLENT SUITE MIX s 5PGRADES COMPLETED BETWEEN s #OMPLETELY RENOVATED s TOTAL GROSS REVENUE NO VACANCY s 3UB #AP 2ATE s s !TTRACTIVE #-(# !SSUMABLE &INANCING 3PC(SFFS"OHFM(SPWFS.BSL)BOOBI 3PC(SFFS"OHFM(SPWFS FOR SALE – 4862 & 4866 Fraser Street, Vancouver FOR SALE s 0RIME 2ETAIL 3PACE 1550 East Hastings Street, Vancouver s )MMEDIATELY .ORTH OF &RASER RD !VENUE s 0RIME #OMMERCIAL 0ROPERTY s SF s (IGH TRAFl C EXPOSURE s s SF SITE FEATURES EXISTING BUILDING 4BNVFM'PHFMM s &ORMER -AZDA DEALERSHIP FOR SALE – Award Winning Heritage Offi ce Bldg., Cranbrook s s 3ALE LEASEBACK OF SF AT SF 1595 East Pender Street, Vancouver s ,ARGEST OFl CE BUILDING IN THE %AST +OOTENAYS s SF SITE s SF FREESTANDING BUILDING s SF BUILDING s projected cap rate s 4BNVFM'PHFMM(BSZ4DISBNN .BSL)BOOBI3PC(SFFS4USVBO4BEEMFS A8 Lower Mainland www.westerninvestor.com MAY 2010 WESTERN INVESTOR THERE’S MORE TO THE PERFECT SPACE THAN JUST SPACE. The information you need to make smart real estate decisions is not always easy to fi nd. Get a Commercial REALTOR®’S perspective and fi nd the perfect space for your business. www.howcommercialrealtorshelp.ca The REALTOR® trademark is controlled by The Canadian Real Estate Association (CREA) and identifies real estate professionals who are members of CREA. WESTERN INVESTOR MAY 2010 www.westerninvestor.com A9 FEATURE Forget mills and mines: regional hospitals now major job generators across British Columbia patients were admitted and 1,342 discharged, 817 CAT scans and 138 MRIs were performed, 3FBMQPXFSDFOUSFT and approximately 3,900 people were admit- ted to emergency. With emergency room vis- SUSAN M. BOYCE its alone predicted to top 45,000 per year, it’s WESTERN INVESTOR small wonder Willis says the facility’s 1,300- stall parkade is already often maxed out. magine a new state-of-the-art B.C. manufacturing plant or pulp mill that 'PSU4U+PIO *is non-polluting, has unlimited client Covering almost two thirds of BC, the demand and hires hundreds of people, pay- Northern Health Authority is geographically ing each close to six figures a year. Such a the largest of the province’s five medical areas private-sector play remains a dream – but but with a population only now approaching when it comes to medical facilities it is the 350,000. Currently the largest of eight capital new reality. projects with budgets of $2 million or more, Regional hospitals are becoming the latest the $297.9 million Fort St John Hospital and power centres for employment in urban and Residential Care project is being built on a rural B.C. – and the growth appears unlimited 40-acre parcel of land donated by the City of in a sector where provincial spending is expect- Fort St John. ed to reach $16 billion annually by 2013. Replacing an aging 1962 facility, this B.C.’s silver-haired population is the fast- 5,000-square-metre (54,000-square-foot) est growing in Canada, and projections sug- development will include a 55-bed acute-care gest that within the next decade the number of Regional Abbotsford Photo: Centre Cancer and Hospital hospital (an increase of 11 from the existing people retiring here will outpace those enter- Authority Health Northern Photo: facility’s 44 beds), a 123-bed residential-care ABOVE: Abbotsford’s new $355 million regional hospital: 5,000 full-time jobs. INSET: ing the workforce, and the number of residents facility and an integrated services centre for The $297.9 million Fort St John Hospital and Residential Care project is being built on a over the age of 65 will overtake the number of food, laundry and other services. The emergen- 40-acre site: It is creating well-paid jobs in a hard-hit northern B.C. community. the province’s school-aged children. cy department’s size will be more than double Almost every regional health authority lays Centre (ARHCC) opened on August 24, 2008, to 150,000 Abbotsford residents and a regional that of the existing ER, and two new operating claim to servicing the “fastest growing” seniors and is visionary in designing what many con- referral hospital for 330,000 residents in the rooms, an endoscopy suite and single-room population in B.C., but one thing is undeniable: sider the new breed of regional hospital. This Fraser Valley. It also offers several enhanced maternity care will be added. as this chronological schism becomes increas- is the first acute-care hospital in Canada built programs, including a new, fully integrated Like the one in Abbotsford, this hospital will ingly more pronounced, demand for medical to LEED gold standards as well as Western cancer treatment centre as part of the BC be designed to achieve LEED gold certifica- services – especially long-term care and treat- Canada’s first acute-care hospital built using Cancer Agency provincial network. tion and is a fixed-price P3 project between ment of chronic diseases most often associated the public private-partnership (P3) model com- Like other capital projects, the economic Northern Health and ISL Health. ISL will with the elderly – will rise dramatically. mon in other government projects. spin-off commenced long before the first design, build, finance and maintain the new However, no matter where the grey wave “This is the same model used to build the patient was admitted. facilities over the 30-year contract leaving is strongest, the demand translates into the Sea-to-Sky Highway and the Canada Line During the approximately three and a half Northern Health to provide the clinical and potential for hospitals and medical services Rapid Transit expansion among many others,” years it took to go from vision to reality, Willis medical care. Opening is anticipated for sum- to become big-time economic drivers. Since notes ARHCC general manager Doug Willis, indicates there were upwards of 600 construc- mer 2012. 2001, the province has invested $5 billion in adding his prediction that P3 will soon become tion jobs created – many of them providing hospital construction and upgrades and has ear- the way of the future in the medical-provider long-term employment for local residents. $SBOCSPPL marked a further $2.5 billion in capital projects sector. Specialists were also recruited from across the In Cranbrook, a $32 million 69-bed expansion over the next three years. A 56,000-square-metre (600,000-square- country when necessary. to East Kootenay Regional Hospital has foot) state-of-the-art facility that provides a Today, the hospital employs some 5,000 been recently completed to bring full regional GVMMUJNFKPCT vast array of much needed services including people (including associated non-clinical sup- referral services including obstetrics, internal Leading the way for a new model of pro- MRI, general surgery, nuclear medicine, renal port services and maintenance). During the medicine, general surgery and orthopedic sur- curement, the award-winning $355 million dialysis, specialized obstetrics and pediatric first month of operation alone, 148 babies were gery to the eastern most part of the Interior Abbotsford Regional Hospital and Cancer services, the facility is a community hospital delivered, 542 surgeries were performed, 1,555 Please see Jobs page A10 -PXFS.BJOMBOE INVESTORS WANTING FOR LEASE TO BUY! We need properties, Lower Mainland, LARGE OFFICE SPACE. 3464 sq. ft. Good locations. $1 Million - $5 Million 5 private offi ces, small kitchenette, 10 with good cap rate of 5% +++ parking. Please call Sandi FOR SALE FOR LEASE OR SALE NEW LISTING PRIME YALETOWN OFFICE SPACE – Nicely Improved offi ce space. North 1,417 sq. ft. or 1,391 sq ft with parking. Vancouver, close to Capilano Rd and Please call Sandi Lions Gate Bridge, 1,503 sq. ft. Please Call Sandi Dexter Associates Realty Commercial Real Estate, Your Trusted Advisors: Larry Traverence, Sandi Fratino Call 604-689-8226 for results “We are focused on achieving the results YOU want.” A10 Lower Mainland www.westerninvestor.com MAY 2010 WESTERN INVESTOR tors and researchers who will be graduating +0#4from A9 from our university and will help to meet the 'VOEJOHDIBOHFGPS TOWNHOUSE BUILDING SITES Health Authority’s service area. In a region increasing demand for medical services in our QSJWBUFSFTJEFODFT Call Re: 50 to 75 unit properties in Maple hard-hit by the declining natural resources communities,” said Kelowna-Lake Country Ridge & Surrey with 3rd reading approval. sector, 800 direct jobs plus spin-off services MLA Norm Letnick. eginning this year, B.C.’s publicly fund- give a welcome boost to the local economy. A Bed residential-care system underwent BUILD TWO MANSIONS replacement gamma ray camera has also been 7BODPVWFS*TMBOE a change in payment structure. Effective Fabulous Panorama Heights with Fabulous approved so nuclear medicine diagnostic test- On Vancouver Island, the 500-bed, $280 mil- January 2010, residential-care clients pay ocean view. $4,500,000 ing can be carried out locally rather than neces- lion expansion to Victoria’s Jubilee Hospital is minimum monthly client rate of $894.40 or 80 per cent of their after-tax income INVEST WITH HUGE BONUS sitating a trip to Kelowna. well underway with approximately 620 on-site to a maximum of $2,932 per month. This Large rental building with apartment Long known as a destination for active retir- construction jobs – many highly specialized ees, Kelowna received an ancillary economic trades people – and another 75 positions being new structure is anticipated to allow most Condo site included (150+ unit site). boost to their flagging residential construction filled by professionals, including architects and clients a minimum of $275 a month to Top downtown Abbotsford location. industry earlier this year with funding approved planners. cover personal expenses and incidentals, for a new Interior Heart and Surgical Centre “In hospital construction, it’s typical for 30 however a case-by-case hardship review is RAY LEWIS expansion at the Kelowna General Hospital. to 35 per cent of the construction trades to be available to ensure no one is turned away due to financial restrictions. West Coast Realty The new facility will include a 12,970 in electrical and mechanical because require- Langley 604-812-9733 square-metre (139,590-square-foot) building to ments are more stringent and technical than Private-pay facilities come with a house the Interior Heart and Surgical Centre, a other commercial/industrial construction,” broad range of pricing. A comfortable, Eg^bZHigViVHeVXZKVcXdjkZg new 7,850-square-metre (84,570-square-foot) said Rudy Van de Broek, chief project officer independent-living studio-style apart- &*)+LZhi'cY6kZ# clinical support building, and renovations to for the Vancouver Island Health Authority. ment with meals provided typically runs :mXZaaZcihidgZ[gdcijc^i^c between $2,200 and $2,600 per month 6GI=JG:G>8@HDCÉhVlVgYl^cc^c\ the existing Royal and Strathcona buildings. Requirements, he explains, include 100 per LViZg[Vaa7j^aY^c\# The Central Okanagan Regional Hospital cent HEPA air filtration, acid waste discharge in Vancouver, $1,800 and up per month District will contribute approximately $91.3 capacity, lead lining in radiology rooms and in other areas of the province. However, million to the $448.2 million cost, with the bal- electrical cables entirely encased in separate high-end facilities that resemble a five- ance coming out of provincial coffers. conduits. star hotel more than a hospital can easily Over the life of the project, the Interior Heart Also, a new $18.8 million emergency room exceed $4,500 per month. Once extended- and Surgical Centre is expected to create more is being completed at Victoria General care is require, it’s all but impossible to than 2,800 construction-related jobs. Once fully Hospital. find any private pay residences with rates s Prime high traffi c location s #LOSE TO TRANSIT 'RANVILLE )SL operational in 2012, the centre will allow some In Nanaimo, the Vancouver Island Health below $5,000 per month. s ,OTS PUBLIC PARKING s "EAUTIFULLY RENOVATED 1,600 cardiac patients each year to receive the Authority has taken bids for the $38.6 million In both cases, waiting times can be $560,000 s /FFERED 0LUS OPTION FOR "USINESS care they need closer to home and will make expansion of the Nanaimo Regional Hospital. months or even years in the case of the most BVgn:aaZcBVVh^` Kelowna the fifth area of the province to pro- Work on a new parking lot and access road is prestigious facilities, although private- +%)"+*,"--+* vide a complete cardiac program. already underway, and work on the new emer- pay typically has shorter waiting lists. bbVVh^`5hjiidc#Xdb “This centre will also provide jobs for doc- gency room will start this summer.◆ SUTTON WEST COAST REALTY LTD VIETNAMESE RESTAURANT INVESTOR ALERT! PRIME DEVELOPMENT OPPORTUNITY ALDERGROVE, BC • High traffic mall location NEW WESTMINSTER BC - UPTOWN NEIGHBOURHOOD - NEAR ROYAL CITY CENTRE • Open 7 days per week • 50 seat license !002/6%$ s 5.)43 s 2%3)$%.4)!, ,)6%7/2+ • Established 3 years SF s 34/2%9 ()'( 2)3% 4/7%2 • Modern kitchen & fixtures $4,588,000 Priced at only $98,000 ).&/ 0!#+!'% !6!),!",% and open to offers. Hurry for this opportunity! START CONSTRUCTION TODAY! For more information, contact DON FORSYTHE KE Worldwide Real Estate Services 604-520-6829 DON EDRA KEN EDRA 778-858-9566 604-307-6889 dedra@telus.net [email protected] WESTERN INVESTOR MAY 2010 www.westerninvestor.com Lower Mainland A11 "5),$%23 s $%6%,/0%23 LEAKY CONDO 2%!,4/23 s ).6%34/23 FINANCING Full Building Repairs & Upgrades We can arrange PFS Paramount Financial Services MORTGAGE div. of Paramount Holdings Ltd. FUNDS MORTGAGES Commercial - Industrial - Multi-Residential for all your Commercial or Industrial Needs 604-552-4392 www.CommercialFinancing.ca All inquiries to [email protected] or BUSINESS LOANS phone Bob Williams @ 604-533-8288 Acquisitions - Expansion - Equipment - A/R Experienced Commercial Financing Specialist. Full Property Management Services (Residential and Commercial) Financing solutions for all situations. including Facility Management Services in Victoria and Prince Rupert, B.C. Commercial Mortgages, Land Development & Construction Contact Duncan MacKenzie Financing, Business Lending, Leasing 1-250-658-8060 [email protected] Phone: 604 510 0030 Email: [email protected] www.randallnorth.ca www.donaldross.ca Commercial / COMMERCIAL Private Mortgages MORTGAGES Been turned down by your lender for FOR ALL TYPES OF COMMERCIAL PROPERTY: - Apartment buildings financing? Need quick funds? - Multi-Family & Mixed-Use No mortgage is too big or too small. - Retail/Strata Office/Warehouse Call me now - Hotel/Motel for a FAST APPROVAL! - Land acquisition/servicing - Construction/Development Loans • Fast Approval • Purchase or Refinance AJIT HUNDAL The Origin Group — Mike Lee TMG The Mortgage Group Canada 604-565-6370 Telephone: 604-614-6899 1-877-848-6370 Toll Free: 1-866-614-6899 Email: [email protected] BRITISH COLUMBIA Commercial Mortgage Financing Brian D. Kennedy 604-331-2211 Jonathan P. Wong 604-331-2218 s $OMINION ,ENDING #ENTRES ARE #ANADAS PREMIER ONLINE MORTGAGE LENDER AND ONE OF THE FASTEST GROWING MORTGAGE COMPANIES NATIONWIDE s $OMINION ,ENDING PROVIDES PRIME COMMERCIAL FINANCING FOR A WIDE RANGE OF COMMERCIAL PROJECTS SUCH AS s -ULTI FAMILY RESIDENTIAL RENTAL #-(# CONVENTIONAL MORTGAGE FINANCING s #ONDOMINIUM INTERIM CONSTRUCTION #-(# CONVENTIONAL s /FFICEn2ETAILn)NDUSTRIALn(OSPITALITYn-IXED 5SE For all your real estate financing needs s #ONGREGATE CAREASSISTED LIVINGnLAND www.peoplestrust.com s -ORTGAGE DEBT CONSULTATION AND RE STRUCTURING For further information regarding Dominion Lending and our lending parameters, please contact: (- -IKE 3METHURST Dominion Lending Centres Westcoast n -ARINE $RIVE ALBERTA 7EST 6ANCOUVER "# 64 " Phone: Fax: Email: MSMETHURST DOMINIONLENDINGCA As an APPROVED LENDER CMHC CORRESPONDENT, we are able to provide you with the most competitive terms available. Dennis K. Aitken 403-205-8203 Doug G. Eveneshen 403-205-8202 Enquiries invited. A12 Lower Mainland www.westerninvestor.com MAY 2010 WESTERN INVESTOR Each office is independently owned and operated. WAREHOUSE SALE MOTEL, 30 Room motel, (8 rooms with COMMERCIAL DRIVE COMMERCIAL DEVELOPMENT 1588 sq ft warehouse and fi nished of- kitchens) plus very large manager suite. Well fi ce upstairs. Bylaws require clean quiet established, buildings in absolutely great MEXICAN RESTAURANT SITE - LANGLEY type of business. 143 –12520 Horseshoe condition, after major renovations. Offered for Way, Richmond. Asking $269,000. only $1,188,000 "Me & Julio Modern Mexican Kitchen" 21427 83rd Ave near 216 St. proposed WAREHOUSE LEASE 2095 Commerical (at 5th) - 2 am license interchange in Willoughby Heights in Lan- FLOWER SHOP / FLORIST, in West Vancouver, 2100 sq ft warehouse with small offi ce, on weekends, 1 am on weekdays. 2,000 gley. 1.51 acres for sale (65,000 sq ft) + includes: coolers, equipment, leasehold on one level. 8 – 7157 Honeyman, Lad- sq. ft. totally renovated 90 seat restaurant Properties on either side may also be avail- improvements, and inventory asking $42,000 ner. $1,600/month. with outside patio for another 24 patrons. able (for another 3 acres). Currently zoned Sales $2 mil/yr, Net $100K/yr Lease SR-2. Suburban Residential with 4200 sq RETAIL LEASE ONE ACRE OF COMMERCIAL LAND, could be for camp - ground, RV or mobile home park facing $5,500 / mo (all in including taxes) 5 yr ft house & a few outbuildings on property. 1406 sq ft , located in shopping centre Hwy 101 - $298,000 + 5 yr option. (Now in 3rd year of 1st 5 Potential future re-zoning to Highway Com- across from Ironwood Plaza. 130-11080 year term). mercial once interchange finished in 2013 No 5 Road, Richmond. $3,600/month. RESTAURANT, - 1/2 acre land, on Hwy 101, $475,000 (strip mall, hotel?) $2,336,000 HAROLD SHURY 604.279.8026 immediately next to the ferry stop, great RE/MAX Westcoast Realty location & great traffic - offered for $498,000 DENMAN STREET DOWNTOWN MEXICAN www.haroldshury.com 9.46 ACRE LOT, Mission area, ready to build VIDEO STORE RESTAURANT [email protected] your dream home, septic field prepared and approved, well drilled and 3 sets of building 976 Denman St – “Indendent Flixx "Anadale’s Mexican Restaurant". plans could be made available, asking Video” Store has best and widest selection 1175 Davie at Thurlow. Established for 22 $399,000 of “Hard to Find” titles. In business for over years. 48 seats. Lease $6000/mo all in. 3 10 years with over 100,000 videos. Sales years left. Sales $1500/day. Open 7 days. COMMERCIAL / RETAIL BUILDING, busiest $220K/YR, Net income $45K with owner Large stainless kitchen with large hood. 2 BOSTON PIZZA location on E. Hastings St. Vancouver, 3000 working 30 hours per week. parking spaces at rear. Sq Ft, with guaranteed income - offered for Two BC locations available $142,000 $179,000 $1,188,000 Priced at $750,000 & $950,000 Only 35% down O.A.C DELI - TRI CITY, many years in business, offered LIVE/WORK LAND & BLDG LES TWAROG for $248,000 Boston Pizza is 6TH & CAMBIE (604)671-7000 WHITE ROCK - home, spectacular ocean view, CANADA’S NUMBER 1 ready for building dream home, quiet street, - 2130 – 2132 Alberta (Near 6th & Cam- casual dining brand. offered for $899,000 bie) 2357 s/f, 2 level rebuilt building + 1428 W 7th Ave., a1300 s/f roof deck with D/T view on 3rd ;dg9ZiV^aZY>c[dgbVi^dcEaZVhZ8dciVXi/ Vancouver, B.C. Please call RICHARD PODGURSKI level. Main floor 1033 s/f used as a Vet RE/MAX Masters Realty IAIN MACDONELL Clinic, 2nd level – 1324 s/f is a 2 bed 2 Crest Realty Cell: 604-961-5665 bath, suite, lot area 2144 s/f (29x74) with (Westside) To view listings please visit: (604) 328-3929 [email protected] RE/MAX SELECT 3 parking stalls in front. $2,199,000 PROPERTIES WWW.MACDONELLS.COM www.expertrealty.ca www.6717000.com/Biz LORNE CHERNOCHAN 604-880-0550 (cell) WESTCOAST (604) 275-5759 OFFICE/WAREHOUSE [email protected] CALL OR EMAIL FOR A FULL INFO. SET RICHMOND, BC RESIDENTIAL DEVELOPERS !!! Richmond Broadmoor area 171 frontage x 141 deep for 5 lots with coach houses or possible 12 townhouses, rental revenue from 5 suites $2,700,000 COMMERCIAL INVESTMENT - RICHMOND Prime corner exposure to Costco, SkyTrain, casino hold for hotel, retail, pub revenue house for income $498,000 BUSY BUSY BUSY Richmond commercial corner, over 28,000 square feet, hundreds of feet of frontage UÊÎÊ/i>Ìà zoned c-1 and rezone possible UÊ i>ÕÌvÕÊ££]äääÊõ°ÊvÌ°ÊLÕ`} $1,450,000 = $52 psf !! UÊÓ{]£ÎÓÊõ°ÊvÌ°ÊÃÌiÊÃâi UÊÊ£ÊÞi>ÀÊi>ÃiL>VÊvÀÊ >Ì >Ê>Ê>ÃÃÊ UÊf£Óä]xääÊ iÌÊVi Ênä¯ÊvÊLÕ`}Ê>Ài> COMMERCIAL INVESTMENT – UÊ V>Ìi`Ê>`>ViÌÊÌÊ,V `ÊÀÜ`Ê > VANCOUVER Ã}Ê«ÀVi\Ê$2,400,000 West side - SW Marine Drive - Marpole 50 x 181 lot with lane, 2,184 sq ft leased building Contact information: Chris Davies and Peter Hall $1,250,000 !! Tel: (604) 718-7300 Fax: (604) 718-7307 [email protected] Email: [email protected] Each office is independently owned and operated. WESTERN INVESTOR MAY 2010 www.westerninvestor.com A13 Every downturn teaches you something and STRAIGHT Interview Series I think the main thing is not to let your ego 5"-, get in the way of prudent business decisions. Builder Michael Audain on recession and recovery Also, mainly focus on the middle market instead of just the very high end of the hous- ANDREW PETROZZI 2008-09 was a result of the international finan- ing market. cial crisis, which really scared the pants off of I think that’s reinforced what you might WESTERN INVESTOR everyone. call our market profile, which is generally a mid-market profile. Every year we like to do escended from one of B.C.’s found- How have you navigated the good times and one really high-end building, but the bulk of ing families, Michael Audain, the bad times? our products is aimed at young families, who %chair of Polygon Homes Ltd., is Our company has always been careful not to are either buying their first home or moving one of B.C.’s leading home builders. He is get over-levered at the bank. We tend to main- up in the market. also chair of the Vancouver Art Gallery tain a respectable debt-to-equity ratio. Because Foundation, the Audain Foundation for we are focused only on the Greater Vancouver Are we seeing an economic recovery? the Visual Arts and the National Gallery market, we are able, to some extent, to antici- Yes, we are quite positive about British of Canada. pate downturns, and when downturns occur, Columbia’s economic prospects. We believe we are pretty ruthless in moving our inventory there may be a bit of a slow period immedi- What factors characterized economic of completed homes. For instance, a year ago, ately after the Winter Olympics, but we think downturns in B.C. over the past 30 we were including a brand new Mercedes with people will look through that and understand years? every purchase of a townhome in Richmond. that British Columbia has a strong future. We I don’t think there is any one single fac- It’s hard to believe that was only a year ago. It Schaeffer Dominic Photo: are optimistic. I think I would characteristic Michael Audain: “Our company has always tor. They were all different. The housing is an illustration of how determined we are to it as cautiously optimistic. been careful not to get over-levered at the recession of the early 1980s was caused by operate with zero completed inventory. We are not wildly enthusiastic about the bank.” a combination of super-high interest rates housing market. We will develop our land in and overbuilding. The recession of the late What tipped you off that a correction was are very good, we grow somewhat cautiously an orderly fashion and always with an eye to 1990s I think was caused by the policies of coming? because we have learned that in a strong wind the factors that create housing demand.◆ the NDP government in driving investors Whenever prices are moving up too quickly even turkeys can fly. and investment out of the province. We saw then we begin to get concerned because at This interview originally appeared in the other parts of Canada booming, but people Polygon we never forget that the housing Any new lessons learned in the past 18 March 2010 Black Edition of Business in were leaving B.C. The short recession in industry is a cyclical business. When times months? Vancouver. -PXFS.BJOMBOE MOBILE HOME PARKS BC SUNSHINE COAST LOWER MAINLAND ANMORE, BC s PAD PARK WITH TWO HOMES ON ACRES Asking $1,395,000. OCEANVIEW DEVELOPMENT SITE s PAD PARK WITH HOME ON ACRES #ITY 3ERVICES Mins to Buntzen Lake, Belcarra Bay, NORTH OKANAGAN West Coast Express, s PAD PARK WITH HOME AND SUITES ON ACRES Asking 1,150,000. Coq. Centre & 30 mins to Vancouver ALBERTA 7 AC Subdivided to 1 ac. Private Estate, s PLUS PADS WITH 26 SITES WITH #ITY 3ERVICES ON ACRES Asking $6,750,000. CAP or build 2 homes. CHOICES! ...... $1.8M GAS STATION 16 AC Adj. to above for 23 ac dev . $4.5M MISSION UÊ<i`ÊvÀÊ{nÊÕÌÊv>ÞÊ ià s .EWER STATION WITH RESIDENCE STORE AND FRANCHISE LEASE #ALL FOR DETAILS Asking $4 Million 7 AC Build 2 homes or hold for future dev. UÊä¯ÊvÊÃiÀÛViÃÊ 27 ac adj. avail. for 34 ac subdivision Other Mobile Home Parks coming up in Lower Mainland and Alberta on City services. UÊnÊ/Ü iÃÊLÕÌÉÃ` Call to get on the wait list for information...... $1.68M UÊÊxÊðÊvÀÊ"Vi>]Ê >À>]Êv]ÊÊ 3 – 1 AC PARCELS ready to build *>ÀÃ]Ê/ÜÊ iÌÀi]ÊëÌ> Bill Summers ...... $719 - $759 UÊäÊÕÌiÃÊvÀÊ6>VÕÛiÀ Direct line: 604-626-8894 June Warkentin 604-987-6064 604-970-5863 Email: [email protected] or 1-888-970-5863 www.seaviewvillaestates.com Ray Veenbaas Call Ray or Richard for all of your Real Estate Needs! Richard Riemersma LITTLE604 OAK REALTY859 2341 email us at [email protected] 604 309 8541 "All offices independently owned and operated" 1-800-668-8661 RESIDENTIAL, COMMERCIAL, INVESTMENT & AGRICULTURE Little Oak Realty HOTEL WITH PUB & RECREATIONAL PRODUCTS BUSINESS $1,000,000 BEER AND WINE STORE LAND & BUILDING @ $2,750,000 $2,950,000 Going Concern $3,750,000 INCOME PROPERTY DEVELOPMENT BUSINESS PIZZA (Close to high school & JR high school) $109,900 OFFICE BUILDING WITH J.V. PARTNER(S) REQ. FOR 31 LOT TRIPLE A TENANT $119,000 SUBDIVISION EXCELLENT RETURNS RESTAURANT $129,900 $1,800,000 Annual Net Income SOLD MOBILE SANDWICH TRUCKS $245,000 1.78 ACRES, PROPOSED RESTAURANT $299,000 TOWNHOUSE DEVELOPMENT STRIP MALL ( with up to 3.5 acre assembly possible ) RESTAURANT $399,000 SOLD Call for details $1,300,000 CONTRACTOR SUPPLY $400,000 604-859-2341 TF 1-800-668-8661 #9–2630 Bourquin W., Abbotsford "EACH OFFICE INDEPENDENTLY OWNED & OPERATED" A14 Lower Mainland www.westerninvestor.com MAY 2010 WESTERN INVESTOR Gas/Gen Store near Hope (2.14 acres/Com bldg) MAPLE RIDGE $1.65M Sale $4M ($3.5M Gas & 800K Gen) + 2 Mobile DEVELOPMENT SITES home pads rented + 2 one bed cabins Motel-Van Island: $1.79M, pub + rest + liquor store ■ 39 Unit Apartment Site $1,199,000 rented. Rental income $162K. Net $220K 35 Rms, 1.94 Zoned RM1 at 3rd reading acre/26,000 sq. ft building. Tourist Motel in Rocky Mtn (3000sqft extr bldg) ■ 81 Unit Apartment Site $1.3M 30 rooms all rms pre-booked year advance Sale OWNERSHIP OPPORTUNITY Being zoned RM-2 - Town core area $310K Gross income/net over $150k/extension potential Motel in Okanagan Valley d/t $1M (share) – BUILDING SUPPLY STORE IN BC – ■ 50+ unit Townhouse Site 21 units 0.419 acre-land / Sale over $200K owner retiring Great neighborhood - Silver Valley area Motel in Fort Yale (one acre/12units/4 bed suite) Own your own IRLY Building Centre dealership. We are seeking $549K (asset) entrepreneurs to be part of BC’s largest building materials and $BMM5FSSZ1BTTMFZGPSGVSUIFSEFUBJMT Motel in Sask 34rms $400K + Pub $300K / net $290K hardware chain. We offer advertising, computer & merchandising $1.9M (asset) Motel-East Can 39 rms / 3 acres / sale $300k / net $200k support. New and existing locations. Partnership opportunities Tri Tel Realty $2.49M (offered) available. Dealer - owned co-op. Receive rebates & patronage dividends. 604-467-9300 PETER PARK Contact 3USAN 2OBINSON s WWWIRLYBIRDCOM or email [email protected] 604-240-9916 email: [email protected] WEST COAST REALTY Each office is independently owned and operated. Blenz Master Franchise & Franchise Opportunity in Vancouver, Vancouver Island, Ontario & Alberta Campbell River Blenz Franchise Vancouver Island ...... 280K Attention Blenz Franchises Yaletown West SOLD, $310K, Development Site $269K, $368K, $275,000, $150K, $250,900, $250K, $229,000, $299,000 3.14 Acres with 397 feet Water Front Zoned Steamrollers Franchise Opportunity, Vancouver Commercial Four (C-4) with 180 degrees of Wired Monk Master Franchise & Franchise Opportunity Agents: views of Georgia Straight. Wired Monk ...... $199,900,$135K REACH QUALIFIED Quizno’s ...... $244,900 The site: 1430 South Island Highway is approved Titan Motorcycle Single & Master Franchises BUYERS FOR YOUR LISTINGS Available in British Columbia, Ontario and Alberta Jerry for 74 units’ quarter share Resort Spa with Northside Auto Sport Single & Master Franchise the building permit in place. Available Raczkowski call Gary Takahashi For Details On Additional Listings Go To Call Jerry Raczkowski for more details toll-free: 1-800-661-6988 www.matthewmoadebi.com 780-932-2121 www.vancouverfranchise.ca 604-602-1111 direct: (604) 608-5111 Matthew Moadebi Re/Max Crest West Site or fax: (604) 669-2154 604-329-6771 (Cell) www.VancouverInvestor.ca [email protected] [email protected] Crest Crest Realty (Westside) Harrison Hot Springs 3 Taco Del Mar ESSO Gas Station, House Opportunity Surrey & White Rock w/ B&B Business & 7455 VEDDER ROAD, CHILLIWACK BC Active licenses for Beer & Wine 2 Indian Restaurants Convenience Store. 3 bedrm Store, Pub, Restaurant & Motel Vancouver & Surrey house plus 2 – 1 bedrm B&B's. 6 acre site. Zoned Commercial. C-Store average daily sales $2,500 $700,000 East Indian Restuarant - Vancouver Total package $1,100,000 Shingle Mill Mission Daily sales: $5,000 3 Franchise Gas Stations Net profit (not including catering/parties) Aldergrove Gas volume 8 million $600,000 - $700,000 yearly 11 Stores Leased litres yearly. Store sales - $3,000 2 Supermarkets Surrey Building for sale. Rental income daily average Daily sales $13,000 $106,000 yearly Delta Daily sales - $2,500 – $3,000 Net Profit: $200,000 yearly Smoke Shop near PNE Gas volume 4 million litres plus (Scott Rd) Annual Net income: $55,000 rental income Daily sales $2,500 3,000 Only $45,000 plus stock Aldergrove Leased Esso Gas Asking $75,000 + stock Pizza Store Surrey Station For Sale. Rental income: Supermarket – Cloverdale Well established $89,000 per year triple net With or without property. Daily sales $500 Status: Land (Commercial) Daily average sales: 2 Subways only call now MOTELS/HOTELS $4,300 - $4,500 42 room motel Surrey Tran Type: For Sale 4 Convenience Stores - 2 Produce Stores Surrey 20 room motel Langley Total Acres: 2.669 Zoning: CD15 Vancouver Daily sales - $1,500 1,700 48 rooms in Surrey Lot Frontage: 370 Lot Depth: 277 Daily sales $2,500 3,000 Asking $180,000 29 room motel Chilliwack 89 room motel Kamloops - s "EST REMAINING UNDEVELOPED LOT ON 6EDDER 2D Asking $175,000 New West $1 mil yearly revenue White Rock Daily sales - $2,000 s ,OCATED WITHIN ONE BLOCK OF AREA MALLS AND (WY IN 3ARDIS Produce Store Asking $175,000 I have Flagged motels in BC s &LAT ACRES WITH ACCESS TO BOTH +NIGHT 2D 6EDDER 2D s 0HASE /NE %NVIRONMENTAL 3TUDIES COMPLETED WITH NO FURTHER TESTS REQUIRED Daily sales $2,000 - $2,500 New West with property 2 pubs with beer & wine store Asking $175,000 s 3ELLER WILL BUILD TO SUIT ANDOR LEASE Daily sales -$2,500 3,000 restaurant + commercial plaza near Canadian Food Asking $1million SOLD Abbotsford $4,500,000 MLS® H3800231 Restaurant Surrey LANGLEY Well established, profitable with 3 bedroom house £ä{ÊÀÊ ÌiÊÊ ÊUÊÈÊ ÀÊ`ÀÛiÊ business Daily sales $2,000 {ÓÊÀÊ ÌiÊÊ ÊUÊÇÊ ÀÊ`ÀÛi JASON LAYNES RE/MAX Nyda Realty RE/MAX SELECT PROPERTIES 6EDDER 2D #HILLIWACK "# Please call Hall-of-Fame-Award Winner 0H 604-858-7179 4& 1-800-830-7175 Commercial Specialist KARTAR SINGH AHLUWALIA Phone: 604-737-8865 Cell: 604-831-0486 www.jasonlaynes.com Each office is independently owned and operated. WESTERN INVESTOR MAY 2010 www.westerninvestor.com A15 SPOTLIGHT High-end resort developments face zoning and NIMBY pressure as island nears capacity square foot is approximately $250 – the best value it’s been in years. And the trades are here #PVOUJGVM#PXFO*TMBOE to do the work, which hasn’t been the case for a while,” Ockeloen adds. SUSAN M. BOYCE Located on the southeast corner of the #PXFO*TMBOE #$ WESTERN INVESTOR island, WCD Developments Ltd’s Cowan Population 3,500 Point is currently accepting inquiries on their t’s been one of the Lower Mainland’s Average house price $500,000 48 building lots adjacent to Bowen’s nine-hole favourite “cottage country” getaways Waterfront lot $1 million golf course. *for decades. Easily accessed by ferry Potential Destination resort market or private boat, approximately 3,500 people $BQF3PHFS call Bowen Island home, although residency BC Tourism Photo: dent of finance with Sorensen Fine Homes, is But it’s the Cape on Bowen, a 600-acre prop- numbers skyrocket during the summer season Bowen Island, as seen from Cypress quick to acknowledge multi-family develop- erty of 10-acre view and oceanfront estate lots – in 2009 the Visitor’s Information Centre Mountain, West Vancouver. ment could be a good thing for Bowen Island also known simply as Cape Roger Curtis, that’s recorded 18,000 visitors between the May as owners decide the challenge of such a sea- although it’s unlikely to materialize. “We are drawn the most ire from some local residents. Day holiday and Labour Day alone. sonal location is too difficult to be viable. now approaching the maximum density allow- Preliminary plans for an affordable, multi- A member municipality of Metro In 2009, the municipality issued $10 million able in the OCP,” he says, adding there is also family development and other amenities includ- Vancouver, Bowen is also the first island worth of building permits – over $7 million strong opposition from the inevitable NIMBY ing a seniors centre were squashed before they municipality under the auspices of the Islands being for construction of residential dwell- contingent. could take off. Information remains sketchy Trust which plans land use and regulates ings and a further $1.7 for renovations and with unsubstantiated rumours of lot prices development for maximized environmental additions. Yet according to many, including NJMMJPOMPUT pitched in the $1.5 to $3 million range. Most protection. Suzanne Carvell, manager of the Bowen One of only three major residential projects industry insiders predict it will be years before Retail and services are congregated in two Island Chamber of Commerce, there is still currently under development, Sorensen Homes’ the property begins active sales. areas – Snug Cove, where the original centre a serious lack of affordable housing. “The aver- King Edward Bay began construction two and Still, Bowen Island’s sense of exclusivity was built and where both private boats and BC age house price on the island is now $500,000,” a half years ago and is now almost sold out of will likely continue to attract savvy buyers Ferries access the island; and Artisan Square, she says. “It’s a particular problem for local their initial phase of 40 building lots. Priced looking for a getaway that’s only a 15-minute located a short walk up the slope. Restaurants businesses who need people in the summer from $200,000 to $1 million for lots of 0.5 to ferry ride from the mainland. thrive in summer and struggle in winter, their – so much so that some owners put seasonal 1.2 acres, King Edward Bay allows purchasers “Like it or not, I could see this area develop- number fluctuating between four and six with employees up in their own homes.” to bring their own architect and builder or they ing along the lines of a Martha’s Vineyard or almost half changing hands virtually annually Like Carvell, Allard Ockeloen, vice-presi- will custom build a residence to suit. “Cost per Bambridge North,” Ockeloen said.◆ -PXFS.BJOMBOE AUCTION OPPORTUNITY IN BEAUTIFUL BRITISH COLUMBIA Whether your dream is to build your own waterfront or water view home on Vancouver Island, the Sunshine Coast or Little Shuswap Lake, live in an elegant villa in Qualicum Beach, or own a golf course in the Thompson Okanagan, May 19 is the day to fulfi ll your dream… Wells Gray Golf Resort and RV Park PROPERTIES INCLUDE: 5 *! 3!, )& .(/0%. - Wells Gray Provincial Park 5 % ,% )2 - . 2 -&" +1 ! 5 (2) 2$ '1 1/ 5 (2"/ 2# !,//131 3 Clearwater Banff 5 1 .)2"/ $-/3& ! 5 % ,"/ - , /0+ Chase Kamloops Properties will be sold to the highest bidders, regardless of price. Campbell River ! Kelowna Auction date: Wednesday, May 19, 2010 Courtenay VANCOUVER Pender Harbour ISLAND BRITISH COLUMBIA Auction location: Ritchie Bros. Chilliwack (Vancouver) facility Qualicum Beach 42275 Industrial Way, Chilliwack, BC Tofino Nanaimo Vancouver Simulcast Location: Crown Isle Resort & Golf Course, Courtenay UNITED STATES 399 Clubhouse Drive, Courtenay, BC Victoria Contact us for property details and registration information: 4 A16 Lower Mainland www.westerninvestor.com MAY 2010 WESTERN INVESTOR www.naicommercial.ca Commercial Real Estate Services, Worldwide. NEW WEST ASSEMBLY BLDG BURNABY RETAIL PENTICTON, BC - FOR SALE UÊÊÇÎx£Êõ°ÊvÌ°ÊÊV ÕÀV ÊÀÊÃV UÊÊÇ]äÇÇÊ-Ê*ÀiÊ Õ} ii`É RICHMOND INVESTMENT UÊÎxÊ«>À}Ê ÀÌ Ê,`ÊVÀiÀÊÕÌÊvÀÊi>Ãi $9,000 / Month UÊ ÝViiÌÊiÝ«ÃÕÀi ÓÊ>VÀiÃÊÀi`iÛi«>LiÊÃÌiÊÜÊ `}ÊVi f{ää]äääÊiÌÊViÊ«iÀÊÞi>ÀÊÕÌÊÓä£{ COQUITLAM AUTO SHOP SURREY LAND UÊÊ{]xääÊ-Ê«ÕÃÊiââ>i]ÊÈÊL>ÞÃÊ UÊÊ }ÊiÀ}iÊÜÞ ÃiÊLÞÊ"Û>ÊÜÊÕÌ>ÊEÊÜ>ÌiÀÊÛiÜà 2360 SOUTH MAIN STREET UÊÊ Õ} ii`ÊÜÞÊiÝ«ÃÕÀiLEASED UÊÊ } ÌÊ`ÕÃÌÀ>SOLD UÊ{{Ê-ÕÌiÃÊ>ÊÜÌ ÊÃÌÀ>Ì>ʵÕ>ÌÞÊÀiÃÊ UÊÊ->iÊÀÊ i>Ãi UÊÊ£ÉÓÊ>VÀiÊ$299,000 $10 Million (under $60 per buildable) UÊ£Ê>VÀi UÊ ÝViiÌÊV>Ì Asking $4,500,000 BILL HAMILTON 604-524-3641, x305 RICK LUI 604-644-6182 PRINCE GEORGE, BC – FOR SALE [email protected] [email protected] REDUCED www.naibusinesses.ca DIVERSIFIED TRANSPORTATION & TRUCKING, AB BUSINESSES LIST PRICE UÊ7iÊiÃÌ>Là i`Ê ÀÌ iÌÀ>ÊLiÀÌ>ÊV«>Þ "ÃÞÃÊ ÌiÊ,iÃÀÌÊ*ÕLÊ fÎ]Óää]äääÊ SOLD 100 TABOR BOULEVARD UÊÕ>ÊÀiÛiÕiÊf£xʳ UÊ `iÀÊyiiÌÊvÊÛi ViÃÊ>`ÊÜiÊ>Ì>i`ÊiµÕ«iÌ iÌ>Ê>LÀV>ÌÊ «>ÞÊ f£]Çää]äääÊ SOLD UÊ `}°ÊÓ]£ÇÊðv°]Ê >«Ê,>ÌiÊn°äx¯ÊUÊÓ°ÎÊVÀiÊ Ì]Ê£ÈÊ UÊ ÛiÀÃwi`ÊVÕÃÌiÀÊL>ÃiÊvÀÊ`vviÀiÌÊ`ÕÃÌÀià >>`>Ê*ÃÌÊ Õ`}Ê fx]nää]äääÊ SOLD 1ÌÃÊUÊ °"°°ÊfÓxä]äää Asking $3,100,000 UÊ }ÊÌiÀÊÃÌ>vvÊ>`ÊiÞÊ>>}iiÌÊÊ«>Vi iÌ iÀ>Ê «>ÞÊ fÓ]{ää]äääÊ SOLD UÊ-ÌÀ}ÊÀ}>â>ÌÊÜÌ Ê}`ÊÃÞÃÌiÃÊ>`ÊVÌÀà 2 PRINCE GEORGE APARTMENTS – FOR SALE UÊ£ää¯Ê- >ÀiÊÃ>i >à Ê,iÌ>Ê >Ê f£]nää]äääÊ SOLD $POA `ÕÃÌÀ>Ê/À>ëÀÌ>ÌÊ fx]xää]äääÊ SOLD SOLD OKANAGAN VALLEY LOCK & KEY BUSINESS ÕÌÊ7ÀiViÀÃÊ f£]£ää]äääÊ SOLD UÊ*ÀwÌ>LiÊLÕÃiÃÃÊÊ«iÀ>ÌÊvÀÊi>ÀÞÊ{äÊÞi>Àð ÝV>Û>ÌÊ ÕÃiÃÃÊ fÓ]Èää]äääÊ UÊ }ÊÌiÀÊViÃi`Êi«ÞiiÃSOLD ,iVÞVi`Ê Õ`}Ê >ÌiÀ>ÃÊ f£]Óää]äääÊ SOLD UÊ-iiÀ½ÃÊ`ÃVÌiÌ>ÀÞÊi>À}ÃÊf£ää]äää If you have a viable business and wish to sell it or are REDWOOD MANOR + CRESTWOOD MANOR $350,000 incl. equip & inv looking for a succession plan to extricate yourself from your UÊÛ>>LiÊÊ«ÀÌvÊÃ>iÊÀÊ`Û`Õ> business call Alf or Delon for a free advisory consultation. OKANAGAN BUTCHER SHOP & DELI NEW LISTING UÊ£ÇÊÃÕÌiÃʳʣ£ÊÃÕÌià UÊ£ÓÊÞi>ÀÃÊÊLÕÃiÃÃÊUÊ7iÊ>««Ìi`Ê>`ÊvÕÞÊiµÕ««i` Contact for details UÊ ÝViiÌÊV>ÌÊÜÌ Ê«>À}Ê FRASER VALLEY LAND NEW LISTING UÊ ÝViiÌÊi>ÃiÊÊ«>Vi UʣΰÇÊVÀiÃÊÊLLÌÃvÀ` RARE – PRINCE GEORGE UÊ / ÊÊf£{ä]äää UÊ£Ê<}ÊÜÌ Ê , $650,000 plus inventory UÊÓÊ >Õv>VÌÕÀi`Ê iÃ]ÊÎÊÜÀà «Ã UÊ ÃiÊÌÊÀ>ÃiÀÊÜÞ FRASER VALLEY EXCAVATION BUSINESS $1,350,000 UÊÊLÕÃiÃÃÊvÀÊÀiÊÌ >ÊÓäÊÞi>Àà UÊ-«iV>â}ÊÊViÀV>]Ê`ÕÃÌÀ>ÊEÊÊÕÌ ÕÃ} UÊ ÝÌiÃÛiÊiµÕ«iÌÊÃÌÊÛ>Õi`ÊÛiÀÊf£ LOWER MAINLAND AUTO REPAIR BUSINESSES UÊ`ÊVÌÀ>VÌÃÊ>Ài>`ÞÊÊ«>ViÊvÀÊÓä£ä UÊÊLÕÃiÃÃÊÃViÊ££ÊëiV>â}ÊÊ iÀVi`iÃÊ iâ UÊ*À«iÀÌÞÊVÕ`iÃÊ£{Ê>VÀiÃ]ÊÜÀà «ÃÊ>`Ê`Üi} UÊ"««ÀÌÕÌÞÊvÀÊ>ÊiÝ«iÀiVi`ÊiV >VÊÌÊÀÕÊÜÊLÕÃiÃà 119 UNITS $3,200,000 incl. equipment & property UÊÊ µÕ«iÌ]Ê>À}iÊÃÌVÊvÊiÜÊ>`ÊÕÃi`Ê«>ÀÌÃÊ>`Ê-Ì>ÀÊ >}ÃÌVÊÃÞÃÌiÊVÕ`i`°Ê6>Õi`ÊÛiÀÊfÓää]äää METAL FABRICATING COMPANY REDUCED UÊÓ{ääÊõ°vÌÊ«À«iÀÌÞÊ ÊÊÊÊÊ UÊ7iÊiÃÌ>Là i`Ê ÜiÀÊ >>`ÊLÕÃiÃà $650,000 incl. prop, equip & inv UÊ-ÌÀ}Êi>À}ÃÊ ÃÌÀÞÊ>`Ê i>Ì ÞÊ>À}à UÊ-«iV>â}ÊÊà iiÌÊiÌ>Ê>ÕÕÊvÀÊVÃÌÀÕVÌ $2,400,000 incl. equipment & inventory LOWER MAINLAND HAIR & BEAUTY SALON UÊ"ÛiÀÊ£xÊÞi>ÀÃÊÊLÕÃiÃÃÊ LOWER MAINLAND METAL FABRICATING UÊÕÊÃiÀÛViÊLi>ÕÌÞÊÃ> 132 UNITS UÊ-ÌÀÕVÌÕÀ>ÊÃÌiiÊ>Õv>VÌÕÀ}Ê UÊnÊÃÌ>ÌÃ]ÊÓÊÜ>Ý}ÊÀÃ]ÊÌ>}Ê>V i UÊ-«iV>â}ÊÊÃiÃVÊÕ«}À>`iÃÊ UÊ,iÛiÕiÊÊiÝViÃÃÊvÊf{xä]äääÊÊ 251 Units – 8 Acres Site UÊ"ÛiÀÊ£xÊÞi>ÀÃÊÊLÕÃiÃÃÊÜÌ ÊÌi`ÊV«iÌÌÊ UÊ }ÊÌiÀÊÃÌ>vv 7iÊ >Ì>i` $590,000 incl. equipment $338,000 plus inventory Asking $14,810,000 ALF SANDERSON 604-691-6646 DELON CHEUNG 604-691-6654 PETER SEED CHRIS WIESER alf@naicommercial .ca delon@naicommercial .ca 604-691-6608 604-691-6662 BUSINESSES FOR SALE Vienna Treasures A tasTE OF !USTRIA #AFE AND BAKERY ARE PERFECT FOR A COUPLE OR INDIVIDUAL ENTREPRENEUR /WN AN ESTABLISHED CAFEBAKERY ON GAS STATION & BOWLING ALLEY (East Kootenays) FOUR STAR HOTEL (Vancouver Island) &ULL SERVICE HOTEL WITH ADJOINING BUSY 4( 3TREET CORRIDOR WHICH IS CLOSE TO OTHER RETAIL SCHOOLS AND OFlCES s 4WO "USINESSES INCLUDING 0ROPERTY DEVELOPMENT SITEÊ°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°Price on request ...... $39,000 s ACRES LAND SF BUILDINGS Taste of Singapore s MIL LITRES GAS SALES B&B CHALET (Whistler) ,UXURIOUS EIGHT ROOM PRIVATE )NN NESTLED A SHORT -ODERN LAYOUT WELL EQUIPPED SQFT RESTAURANT IN BUSY STRIP MALL ON 3COTT 2OAD CORRIDOR !SSETS ONLY BRING YOUR THEME s MIL ANNUAL SALES WITH OVER NET TO OWNER WALK FROM !LTA ,AKE ...... Shares $2.0 mil 'OOD LEASE AND EQUIPMENT 6ENDOR MOTIVATED ...... $45,000 ...... Shares $2.45 mil Gold Dust Café Building – FOR LEASE n FULLY lXTURED SQFT DOLLAR STORE FRANCHISE (Mission/Abbotsford) COFFEE FRANCHISE (Richmond) /NE OF THE BEST IN A VERY ATTRACTIVE BUSY STOREYS WITH BASEMENT BUILDING DOWNTOWN -ILE (OUSE DEMISED INTO A s %STABLISHED IN AREA 0ROlTABLE WITH LONG LEASEÊ°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° $298,000 + Inv. SQFT SEAT RESTAURANT CAFÏ ON THE MAIN mOOR WITH FULL BASEMENT AND s %XCELLENT EXPOSURE IN LARGE MALL A SQFT PERSON LICENSED BANQUET HALL ON THE TOP mOOR WITH SEPARATE s MIL ANNUAL SALES NET POST OFFICE/MAGAZINES (Vancouver) ,OCATED IN THE HEART OF HIGH END ...... $458,000 + Inv. ENTRANCE ...... !SKING RATE $8.25 PSF RESIDENTIAL DEVELOPMENT 'ROSS REVENUE MILYEAR K NET Select Auto Sales #OMPLETE TURNKEY INDEPENDENT CAR DEALERSHIP 7ELL CARDS, WRAPS, GIFTS & BALLOONS (Vancouver) °°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° $395,000 + Inv ESTABLISHED AND REPUTABLE FULL SERVICE LOCATION ON -AIN 3TREET 0ENTICTON s -OST UNIQUE SELECTIONS OF lNE GREETING CARDS AVAILABLE IN #ANADA 0RICE INCLUDES ALL INVENTORY ALL MECHANICAL TOOLS LEASEHOLD GOOD WILL COFFEE FRANCHISE (Vancouver) ,OCATED IN OFlCE BUILDING IN THE s 0RIME LOCATION IN TRENDY +ITSILANO 3& LOT ...... $160,000 s !BSENTEE OWNER DOWNTOWN CORE 0ROlTABLE WITH LONG LEASE Ê°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° $249,000 + Inv. Harmony Hair 7ELL ESTABLISHED WELL EQUIPPED SIX STATION HAIR SALON s ANNUAL SALES ...... $99,000 $58,000 + Inv. EURO DELI (Coquiltam) 7ELL ESTABLISHED PROlTABLE DELICATESSEN WITH SMOKE LOCATED IN BUSY -ARKET #ROSSING -ALL "URNABY !NCHOR TENANTS INCLUDE HOUSE 'OOD LEASE Ê°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° Assets $183,000 including Inv. #ANADIAN 4IRE 0RICE 3MART &OODS ALONG WITH AMPLE PARKING ...... $100,000 EMPLOYMENT AGENCY (Lower Mainland) s ,ONG %STABLISHED Fraser Lake Inn /WNER ABSENTEE OPERATED &ULL 3ERVICE (OTEL LOCATED MEDICAL EQUIPMENT (Lower Mainland) -EDICAL SUPPLY RETAILER CARRY A s 4EMP 0ERM 0LACEMENTS ON (IGHWAY "UILDING CONSISTS OF ROOMS SEAT PUB 2ETAIL LIQUOR s MIL SALES GOOD ASSORTMENT OF SCOOTERS WHEELCHAIRS WALKERS POWER CHAIRS HOSPITAL BEDS STORE WITH SEAT RESTAURANT OWNER OPERATED &URTHER DETAILS ..... $895,000 s .ET TO OWNER LIFT CHAIRS PATIENT LIFTS BATHROOM SAFETY EQUIPMENT CUSHIONS AND OTHER lNE MEDICAL Motels | Hotels WANTED (AVE "UYERS FOR n UNITS IN THE FOLLOWING ...... Shares $800,000 + Inventory (Net of receivables and debt) ...... $50,000 plus Inv. EQUIPMENT .EW LOCATION AVAILABLE FOR LICENSEES REGIONS 6ANCOUVER )SLAND #ARIBOO 3OUTH /KANAGAN AND +OOTENAYS TED STELLAKIS 604-691-6692 ELIZABETH WOZNICZKO DEAN THOMAS CCIM [email protected] 604-691-6648 [email protected] 604-524-3641 Ext. 314 [email protected] Committed to Canada. Connected to the World. WESTERN INVESTOR MAY 2010 www.westerninvestor.com Lower Mainland A17 ROYAL GROUP 4".3",)3" Tapestry Realty M otels & H otels 604-590-6111 #104-13049-76 Ave FOR SALE Maple Ridge Land Investment s 6ICTORIA -OTEL $6M s "ELLINGHAM 7! -OTELS $7M-$12M HOTEL s (OTELS IN 6ANCOUVER "# $2M - $24M s &ULL SERVICE HOTEL IN 3QUAMISH $2.5M Bellingham (WASH) 67 Room s (OTELS IN 4ORONTO $5M - $30M BDSFTJOQBUIPGTVCEJWJTJPOEFWFMPQNFOU Hotel for Quick Sale. Vendor s (OTELS !"3+-" $1M - $12M /PUJOBHSJDVMUVSBMMBOESFTFSWF s 6ALEMOUNT (WY &ULL SERVICE RESTAURANT Moving. Revenue 1.2 MILLION SEATS &OR ,EASE in US Funds. s UNIT -OTEL PLUS RESTAURANT FOR SALE "MSFBEZJOTFXFSBSFB²"BQQSPWFECZ(73% ,OCATED IN 6ALEMOUNT "# CLOSE TO *ASPER !" Asking Price $4.8 Million (US Funds) WWWPREMIERMOUNTAINLODGECOM $4,888,888 %FTJHOBUFETDIPPMTJUFBDSPTTUIFTUSFFU For more detail or private viewing call : Karim Ali Merali SAM RAKHRA [email protected] of the ROYAL GROUP 1-888-830-7888 )BTSFOUBMIPVTFPOUIFQSPQFSUZ .EW 7ORLD 2EALTY 604 761-0172 604 590-6111 .VTUXBJUGPSTFSWJDFTUPCFFYUFOEFEUPEFWFMPQ Unique & Sound Investment Townhome Development Site Marriott Pinnacle Coal Harbour Morgan Creek Heights "WFSZHPPEQSPQFSUZIPMEJOHGPSPOMZ 1128 W. Hastings Street, Vancouver Excellent location King George & 24th Ave. 2 gorgeous hotel units on the 19th & 21st fl oors.Water Build 18 townhomes or hold for future develop- $2,350,000 and mountain views, steps to new convention centre, ment with neighbours. Good spacious Robson St. and Stanley rental home plus large garage shop Park. Share the revenue and sheds on property now. $BMM from a top hotel in the Asking $1,500,000 city. Carefree – head- ache free investment of Bob Quinnell604-803-2627 8/9% net return. Best location in Vancouver! $218K&$228K 3PZBM-FQBHF#SPPLTJEF3FBMUZ Tony Alves 604 889-7008 Sutton Centre Realty www.naicommercial.ca Commercial Real Estate Services, Worldwide. WOOD PELLET MILL KAMLOOPS APARTMENT BUILDINGS FOR SALE BUSINESSES PENTICTON ASKING $2,100,000 BC NORTH PAVING INDUSTRIAL BUILDING 3860 ALBERT ST., NORTH BURNABY UÊx°äÊVÀiÃÊ UÊ >ÌV Ê*>ÌÊÜÌ ÊiÜÊL>} ÕÃi UÊ£än]äääÊõ°ÊvÌÊLÕ`}ÊvÀÊ->iÊÀÊ i>Ãi UÊ£]äääʳÉÊõ°ÊvÌ°Ê*>Ì ÎÈÊ1ÌÃÊ ÕÀ>LÞÊ UÊ/ÜʼÊVÌÞ½Ê}À>ÛiÊ«ÌÃÊqÊÓ°x ÊÌà UÊÊ >ÞÊ«ÃÃLiÊÕÃiÃ]Ê >Õv>VÌÕÀ}]Ê,iÌ>]Ê UÊÊÈ]äääʳÉÊõ°vÌ°ÊvwViÊ ÀÌ °ÊÊ Õ`}Ê >ÃÊ UÊ LÌ`>ÊfÓnä]£Ç balconies, elevator, or Storage businesses building undeground secured Price $829,000 Incl. Inv, Equip, Pits UÊÊÕÞÊiVi`ÊÜÌ Ê «>À}°ÊÊ*ÀViÊÀiViÌÞÊ SURREY CENTRE LAND rail access RED MEAT PLANT NEW Ài`ÕVi`° UÊ"iÊLVÊvÀÊÌ iÊ }ÊiÀ}iÊ-ÞÊ/À> UÊÊ*iiÌÊÊiµÕ«iÌÊ UÊ >`ÊEÊ Õ`}ÃÊ 6 -/ /Ê also available UÊ`Êi>ÃiÊÊ«>ViÊ UÊ iÛ°Ê{ÊÌÊÈÊÃÌÀÞÊ Õilding UÊ"ÊÕV«>ÊÃiÀÛViÃÊ UÊ1`iÀÊ£äÊÞi>ÀÃÊ`Ê 4916-30 IMPERIAL ST., BURNABY KAMLOOPS 42 SUITE UÊ"ÜiÀÊ>ÞÊi>ÃiÊL>V UÊ6iÀÞÊ`iÀ]Ê>À}iÊViÀÃÊEÊvÀiiâiÀÃÊ {ÊÃÌÀiÃʳʣÈÊÃÕÌiÃ°Ê UÊ >À]ÊvwVi]Ê«>Ì]Ê>`]ÊÀiÌ>ÊÃiVÌÊ APARTMENT BD Nelson & Imperial UÊÊ/tally renovated building and tenant >À}iÊVÀiÀÊÌ° UÊ ÕÌÊÌÊvi`iÀ>ÊëiVà STREET FRONT COMMERCIAL STRATA UNIT Price $2,650,000 replacement ASKING $695,000 UÊÀÃÃÊViÊfΣ]äää UÊÊÀ>ÃiÀÊ} Ü>ÞÊ HELI SKI, ECO-TOUR LODGE NEW >}iÞ UÊVÕ`iÃÊ>Ê£{{{Ê-µ°Ê °ÊiÃÊ/iÕÀi MERRITT STRATA UÊÓ£xʳÉÊõ°ÊvÌ° UÊ,iÌiÊL>VVÕÌÀÞ]Ê>ÀÊ>VViÃÃÊ `}i TOWNHOUSES UÊÊà }]Ê7`vi]Ê >VVÕÌÀÞÊ/ÕÀ}]Ê UÊ iÜÊVÃÌÀÕVÌÊ 5468 HASTINGS ST., BURNABY UÊÊÈÊ/Ü ÕÃiÃÊÜÌ Ê}`ÊÌi>ÌÃ]Ê}ÀÃÃÊÀiÛ°Ê ÊUÊ,i>`ÞÊvÀÊÞÕÀÊ`i>à iÃ} fÈ£]{{ä UÊÊ £Ê iÀV>Ê vviVÌÛiÊ>}iÊnÊÞi>ÀÃ°Ê UÊ*ÀÛ>ÌiÊÓää½ÊÀÃÌÀ« £ÇÊ1ÌÃÊÕ«ÊÌÊVÕÀÀiÌÊ UÊAsking Price; $600,000 â} code completely UÊÊ >>}iÀÃÊ ÕÃi]Ê-«>ÊLÕ`}]Ê}ÕiÃÌÊ Ài`i°ÊÊ >ViÃ]Ê VÌÌ>}iÃ]Ê`Và 100 MILE HOUSE - ÛiÜÃ]Ê«>À}° Price $2,800,000 NEW LISTING NURSERY ASKING $2,600,000 BC NORTH EQUIPMENT RENTAL UÊ ÃÌ>Là ÊLÕÃiÃÃ]ÊÓÓÊÞi>ÀÃ]ÊÊ£ÈäÊ>VÀià UÊ ÀiÀÊV>Ì UÊ >à ÊyÜÊÊÎn¯ÊvÊÀiÛÊ UÊAsking price $680,000 UÊÊxÊ ,1½ÃÊÊ£Ê6>V>ÌÊÊvÀÊ TERRY HARDING 604-691-6615 UÊÊ*ÕÀV >ÃiÊLÕ`}Ê«ÌÊ ÜiÀÊÀÊi>Ãi [email protected] UÊ"Ì iÀÊLÕÃiÃÃÊ>ÃÃiÌÊ«Ìà UÊ-ÌÀ}Ê/i>Ìà Price $1,695,000 Incl. Inv, Equip, Assets MICHAEL MARCKWORT UÊf£xx]xxäÊiÌÊVi JACKSON TANG 604-691-6680 VANCOUVER HAIR SALON UÊÊ ÝÊvÊ ÎÊ >`Ê xÊ Þi>ÀÊ [email protected] [email protected] leases U ‘chic’ location & full service Salon U 15 years in business BUSINESSES FOR SALE U All employee - No ‘chair’ rental 2 BOUTIQUE HOTELS LANGLEY INDUSTRIAL STRATA UNIT U Stable revenue – high cash business COMMERCIAL LAUNDRY EQUIPMENT SALES WITH RESTAURANTS ASKING $385,000 UÊÃÌÌÕÌ>Ê>Õ`ÀÞÊ>`ÊVÊ>Õ`ÀÞÊÃiÌÕ«Ã ENGINEERING – GREATER VANCOUVER UÊÊÌÊ V}ÊÀÃiÊÊEÊ-ÕÊ*i>ÃÊ,iÃÀÌà UÊÓäääÊõ°ÊvÌÊvÌ«ÀÌ UÊ->iÃÊf£Ê ʳÉÊUÊÎäÊÞi>ÀÊÌÀ>VÊÀiVÀ` y, land use UÊÊ£äääÊõ°ÊvÌÊ UÊ-ÕÀÛi Asking Price: $2.4M & $4.3M UÊÃÌ>i`Ê£nÇÊVÊ >Õ`À>ÌÃÊÊ ÊÃÊv>À UÊ ÕV«>]Ê Û]Ê*>} Ü>Ài ÕÃi] UÊASKING $225,000 plus inventory for assets UÊÊ£äääÊõ°ÊvÌÊvwViÃÊ UÊ >`Ê`iÛi«iÌ UNDER VALUED on main CHILLIWACK TRANSMISSION SHOP UÊ7iÊiÃÌ>Là i` MOTELS IN EASTERN BC Price under $5 million UÊÊ£äääÊõ°ÊvÌÊ UÊ{ÊL>ÞÃÊUÊÕÞÊiµÕ««i`ÊUÊÀi>ÌÊ V>Ì UÊÊ"ÜiÀÊÜÊw>ViÊUÊ ÌÃÊvÊÕ«Ã`iÊ«ÌiÌ> à ÜÀÊÕ« UÊASKING $175,000 plus inventory www.naibusinesses.ca/craig UÊÊ >>}iÊÌÊÜÊÊÊÊÊÊUÊÊ7iÊV>Ìi` TED WEIBELZAHL TED WEIBELZAHL CRAIG TENNOCK MICK MATHEUSIK M.Sc. 1-800-890-9855 Toll Free 1-800-890-9855 Toll Free 1-866-717-6989 OR $IRECT OR $IRECT [email protected] [email protected] [email protected] [email protected] 0ROFESSIONALS s -ARKETS s #OUNTRIES A18 Lower Mainland www.westerninvestor.com MAY 2010 WESTERN INVESTOR F O R S A L E GARY MAND 5 aces out of ALR 2/2 houses Roaron Commercial/Retail 604-307-9515 604-572-1211 Main house 8545 sq.ft. By Langley SEC school, Construction Marine Drive, North Vancouver Sutton Group Medallion Realty w/100x45 warehouse $3.9M. Trades welcome. Fully Leased 34 acres for blueberry or raspberry “Your One Stop Shop” South Surrey 5 – 15 acre parcels. Asking $3,180,000 Future potential for residential. close to 264 border in USA. $375K • subdivision construction Langley townhouse site F O R S A L E East Newton Business Park – Surrey 5 acres 82 townhouses. $5.3M • building envelope 2 parcels 2.224 acres and 4.5 acres Multi-Family Apartment Building Industrial business park. Langley 56 lots • concrete/asphalt & sealing Central Lonsdale, North Vancouver 17 row houses and 19 townhouses. $10.5M • structural repair Asking $2,580,000 Langley 2.4 acres future potential for commercial. $1.4M and Abbotsford 32 townhouse • roofing & waterproofing 5 acres residential. 5 lot 6,000 sqft and beg house • parking lots & parkades Azeem CGA w/pool & tennis court. $5.8M ph: 604-889-4551 email: [email protected] Maple Ridge 7.7 acres urban reserve Call Now 604-888-7818 Buy – Sell – Lease Close to new development. or Email [email protected] ÕÌ>ÞÊUÊ iÀV>É,iÌ> Surrey Farm 49 acres 10 to 11 years old. AMARJIT GILL -ÌiÊ,iâ}ÊUÊ*ÀiVÌÊ >ÀiÌ}Ê www.roaron.com Blueberry Farm plus outbuildings. Serving Real Estate Clients since 1989 604-614-7101 Global Force Realty GLENN LOCATION • LOCATION • LOCATION CHILLIWACK, BC 3.9 acre commercial site on YAMADA VANCOUVER EAST SPACE FOR LEASE WEST END JAPANESE Luckakuck Way with 49,432 sq. ft. Personal Real Estate Corporation RESTAURANT FOR SALE Zoned assembly, of building Montessori, school, gym, Business only. $70,000 Coronation West Realty etc. 6,500 sq.ft. $11.77/ sq.ft. Lots of parking, 1,000sq OFFICE: 604-939-6666 no Demo clause. Easy ft. $84.90 lease /sq.ft. CELL: 604-240-2749 showings. Liquor license Busy Robson EMAIL: [email protected] may be available. St. location. Eat in/take out. Well Excess land...... room for more building on site. COMMERCIAL AND RESIDENTIAL REAL ESTATE SINCE 1989 established.Why settle for less? Prime freeway exposure. Tenants: Value Village, BURNABY NORTH GOVERNMENT ROAD House 2 Home Furniture, End of the Roll Carpets. LAND DEVELOPMENT Low rents (well below market) offering great Office space for lease. RETAIL SPACE IN MAPLE RIDGE upside. Good escalating leases. Assumable CIBC Condo Site $2.3M SOLD 1,540 sq.ft. $9.50/ FOR SALE financing @ 5.6% if required. NOI: $557,000 UÊ, {]ÊÓÇÊÕÌÃ]Ê6>VÕÛiÀÊ >ÃÌ sq.ft. Zoned M5. Fully 3,045 sq.ft. Price: $9,500,000 UÊÓä]äÇÊõ°ÊvÌ°ÊLÕ`>Li airconditioned. Corner 2 levels. BUSINESSES FOR SALE site. Hwy. frontage. C3 zoned. $819,000 Fully SPIRIT RIVER, AB Excellent exposure in Freestanding Retail Building Auto Repair Service Shop REDUCED $69K $38K clean, bright building. Budget priced! airconditioned, UÊ ÃÌ>Là i`ÊnÊÞi>ÀÃ]Ê>ÛiÀ>}iÊiÌÊfÈä alarm system, UÊ i>]ÊÜiÊÃiÌÊÕ«Ê{]ÓääÊõ°ÊvÌ°Êà « VANCOUVER WESTSIDE OFFICE SPACE HVAC. Maple UÊ"ÜiÀÊ}ÊvÀÊ>ÊV >}iÉÜ>ÌÃÊÌ ÃÊÃ`Êv>ÃÌ Ridge Town Centre. High pedestrian FOR SALE Waste Disposal Business SOLD $4 Mil. $549,000 964 sq.ft. traffic area. Excellent exposure. Great UÊ->iÃÊfÊ Zoned C-2. Ample for single use or can be split into 2 BUSINESSES, LAND & BUILDING parking (5 spots). separate units. Easy access from NEW !! Pub, Land and Building $2.7 Mil. Dunbar in this upscale Just listed- $1.3million gross UÊ*ÕLÊ ÕÃiÃÃÊfnxä ÊqÊ-- /Ê- neighbourhood. income well located, well established Leased to national retailer (Hudson’s Bay Co) UÊ->iÃÊfÓ°{Ê ÊÉÊ iÌÊfÎää ÊÌÊ"ÜiÀÊÉÊ"«iÀ>ÌÀ Ideal for professional corner restaurant at 5th and Burrard. UÊ Õ`}Êf£°nxÊ Ê iÌÊf£än Ê-- /Ê- offices. Less expensive to buy than to lease. $299K 635,000 (8.5% return) UÊ «iÌiÞÊ,i¿`ÊÊEÊÕÌÊ{ÊÞÀÃÊ>} UÊLÃiÌiiÊÜiÀÃÊÉÊÌÊvÊÕ«Ã`iPENDING UÊÀi>ÌÊ««ÀÌÕÌÞÊÉÊÀi>ÌiÀÊ6>VÕÛiÀÊ>Ài> ROB DANIELSEN FERMANAGH LANDS UÊ*ÀV«>ÃÊÞÊ«i>Ãi (604) 946-7997 (604) 790-3188 Thinking of selling your Business?? Give me a call. 604-781-5069 I’ll be happy to sit down with you and evaluate your Business. www.century21.ca/rob.danielsen [email protected] USER / INVESTOR OPPORTUNITY INDUSTRIAL / RETAIL SALE RETAIL SALE OFFICE / RETAIL SALE STRATA OFFICE SALE 1151 WEST 8TH AVENUE, VANCOUVER 3083 GRANDVIEW HIGHWAY, VANCOUVER 3467-3469 MAIN STREET, VANCOUVER 1331 & 1339 KINGSWAY, VANCOUVER 3410 LOUGHEED HIGHWAY, VANCOUVER ‘The Steamboat House’ 11,000 sq ft solid concrete building +/- 2,950 sq ft retail building Lot size: 99’ x 122’ 600 -13,500 sq ft strata office Heritage B Building • 8 parking stalls Divisible into three units 33’ frontage on Main Street 30,000 sq ft of retail Concrete construction • Air conditioned 4 floors • 6,400 sq ft building 1 unit leased generating $64,000 per annum User / Investor opportunity Kitty-corner to King Edward Village Adjacent to Rupert St. SkyTrain Station James Bayley / Tom Bakker Tony Capolongo James Bayley / Virginia Primrose Stephen Webber / James Paleologos Don Mussenden / Anthony Lux OFFICE / WAREHOUSE SALE / LEASE INDUSTRIAL SALE / LEASE INDUSTRIAL SALE INDUSTRIAL / OFFICE SALE / LEASE INDUSTRIAL / OFFICE SALE / LEASE EDUCED EDUCED R R RICE RICE P P 8836 SELKIRK STREET, VANCOUVER 42 FAWCETT ROAD, COQUITLAM 145 GOLDEN DRIVE, COQUITLAM 375 LYNN AVENUE, NORTH VANCOUVER 1515 BROADWAY STREET, PORT COQUITLAM Prime owner/occupier opportunity with income 4,632 sq ft available Mayfair Industrial Park 3,700 to 20,700 sq ft Units 101 - 103 • 11,736 sq ft 17,473 sq ft freestanding building 2 warehouse/office units available 7,253 sq ft on 6.65 acres • A/C offices 24’ ceilings • Grade loading • River views High quality office space • $160 per sq ft Ample parking • 20’ ceilings 3 phase power & 20’ clear ceiling height 2 bay shop area • 14’ x 16’ drive-in doors HVAC equipped • Hwy #1 nearby Ideal for software/tech users Ryan Saunders/Mitch Ellis/Mark Elworthy Steve Caldwell / Jackie Gwozd Steve Caldwell Rand Thomson Steve Caldwell / Jackie Gwozd Tel: (604) 684-7117 INDUSTRIAL SALE FORECLOSURE SALE For more information on these and EDUCED R SUBJECT other opportunities contact our office PRICE or visit our website www.dtzbarnicke.com/vancouver 13081 84TH AVE, SURREY 144 & 174 - 176TH STREET, SURREY 19,200 sq ft building on 1.1 acres 60 acres including farm buildings 11,000 sq ft leased 1 acre with house Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to generating $87,000 per annum Close proximity to Pacific Border Crossing its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same Tony Capolongo / Chris McIntyre Dixon Chow should not be relied upon without independent verification. DTZ Barnicke Vancouver Limited, Real Estate Brokerage 5/2010 WESTERN INVESTOR MAY 2010 www.westerninvestor.com A19 COVER Tax advantage softens blow of low occupancies, soft prices, slumping incomes and a slow recovery 3PMMJOHPWFS JOIPUFMT FRANK O’BRIEN WESTERN INVESTOR spike in Vancouver occupancies during the 2010 Winter Olympics "is not enough to disguise a slump in a B.C. hotel and motel market pockmarked with foreclosures, falling income, killed projects and empty rooms. And B.C. is not alone: a mix of a high dollar, the loss of U.S. Lam Richard Photo: tourists and tough financing has hammered ABOVE: Robert Greer, principal with Avison the hospitality industry across Canada. Young, at the Burrard Motor Inn, the only Yet, as in any downturn, some investors are Vancouver hotel to sell in the past year. building and buying now to catch what they Photo: Tyne Hospitality Tyne Photo: FAR LEFT: The Travelodge Hotel in Maple believe is an improving market, despite the Ridge sold in April for $3.6 million. LEFT: ugly statistics. see a near 2 per cent decline to $76 this year, Opening this month, the Sparkling Hill Hotel and motel incomes in B.C. dropped after a 13 per cent drop in 2009. Resort and Wellness Centre is a $122 mil- 11.7 per cent in 2009 to $1.7 billion, and room “We don’t see a turnaround, and that means lion Vernon venture by Austrian investors. revenues fell for the first time in six years, back to 2007 levels until 2014,” said industry according to BC Stats. By December 2009, veteran Angus Wilkinson, president of West Robson Street for $41 million last year, but hotel occupancy had plunged to 57 per cent – Vancouver-based Tyne Hospitality Ltd. planned to convert it to residential units after down from a five-year average of 65 per cent the Olympics. The venerable Hotel Georgia – and the average room rate was down 2.2 per 'FXTBMFT will have its 300 rooms converted into 150 cent to $128.90. Wilkinson notched one of the few hotel sales rooms and Delta Lands’ end game is tied to The downtown Vancouver hotel market this year in Metro Vancouver when he sold the an attached condominium and office tower. rallied during the 17 days of the Olympics, 56-room Travelodge in Maple Ridge for $3.6 Centre Wellness Hills Resort and Sparkling Photo: According to Wilkinson, a hotel that has resi- with occupancy levels exceeding 90 per cent, million. The sale was unique, Wilkinson said. It price for the 23-room hotel wasn’t disclosed, dential potential or a commercial component according to Tourism Vancouver. But a March wasn’t listed for sale when a hotel owner from but the town of Esquimalt had put the property has a better chance of selling in today’s market check of local hotels showed that occupancy Abbotsford made the offer, and the buyer had up for a sale in 2009 to covered unpaid taxes because of the difficulty in arranging financing levels and average rates had fallen back. the strength to handle the financing. of $529,500, with no takers. on a pure hotel play. PKF Consulting, which tracks the industry, Over on Vancouver Island, meanwhile, a Victoria’s Huntingdon Hotel and Suites, “No major lenders will look at hotel or motel forecasts that REVPAR (revenue per available number of hotels have slid into receivership as under court protection for 18 months, is still financings,” Wilkinson said, noting that buy- room) will average $96 in Vancouver this year, the recession slowed U.S. visitors. Last year, for sale, and, in Nanaimo, a planned 200-room ers often have to go to private lenders, which up from $86 in 2009, but far below the $100 hotel revenues in the capital region fell nearly hotel that was to be attached to the new con- charge much higher interest rates. average of three years ago. 10 per cent and were off from 11 per cent to 12 vention centre has been stopped cold by the Mike Keenan, a broker with Avison Young, And Vancouver is doing better than other per cent in other Island centres. developer, Suro Development Company/ Vancouver, who is trying to sell the 90-unit his- major western Canadian cities. Last December, the English Inn & Resort Millennium Nanaimo Properties. toric Dolphin Hotel in Victoria for $7.9 mil- Calgary is forecast to see REVPAR of $91, finally sold after 20 months under a court In Vancouver, Anthem Properties Group lion, said even mortgage brokers are requiring down from $94 in 2009, while Edmonton will ordered sale to a group of B.C. investors. The bought the 233-unt Pacific Palisades hotel on Please see Investors page A20 -PXFS.BJOMBOE A20 Lower Mainland www.westerninvestor.com MAY 2010 WESTERN INVESTOR owner and how much trouble he’s in,” Etkin to grow by 2.7 per cent this year, but remember FOR SALE */7&45034from A19 told the Calgary Herald. that this if off a very low base.” 65 per cent loan-to-value ratios, which means Owners of smaller hotels are thinking along ,#.''#''' hotel buyers have to come up with a hefty down the same lines, according to Robert Greer of /FXIPUFMT payment or seek alternative financing. Avison Young, who sold the Burrard Motor Inn All the negative news has not deterred some in Vancouver this spring for $8 million. It was developers proceeding with major hotel proj- 5BYBEWBOUBHF the first Vancouver hotel sale in over a year. ects in both B.C. and Alberta. Still, the motel and hotel market offers some The buyer is a local hotel owner who spotted an Set to officially open this June, the 150-unit tax advantage to vendors and serial buyers. opportunity in a good Vancouver location. Metropolitan Hotel’s Grande Rockies Resort “If a hotel owner sells the assets of his hotel “As a buy-and-hold situation, it is a good in Canmore, Alberta, is the “first luxury hotel )..(M`jZflekNXp#I`Z_dfe[#9: and reinvests in another hotel business within investment,” Greer said, noting it has a fully- brand to open its doors in Canmore” said Henry ,+#'''J=@E;LJKI@8Cn&f]ÔZ\ 12 months of the sale completing, then he will leased retail component on the ground floor. Wu, president of Metropolitan Hotels, which @[\XcFne\i&Lj\ifggfikle`kp defer the payment of any federal capital gains has boutique hotels in Vancouver and Toronto. Efik_I`Z_dfe[%)(8Zi\j#Qfe`e^@$) tax. If he sells the shares of the company that 5SBGGJDEPXO Room rates at the Grande Rockies Resort start STATION (LAND & BUILDING) LIQUOR STORES, PUBS, FRASER VALLEY PRICE: $2,600,000 UÊ"ÊLÕÃÞÊ } Ü>ްʤÊ>VÀiÊvÊ>` HOTELS/MOTELS #SJOHBMM0GGFST Attention UÊ >Ì>ÊLÀ>`Ê>i CHILLIWACK STRIP MALL – Excellent potential for expansion. Long term tenants. Nets UÊÊLiÀÊ}>ÃÃÊ`ÕLiÊÜ>ÊÌ>Ã]ÊÊ $276,000. Asking price $4,500,000. Cap rate approximately 6.1% iiVÌÀV>ÞÊÌÀi` UÊÊ`ÊÛÕiÃÊvÊ}>Ã]Ê`iÃi]Ê«À«>i]ÊÌÌÊÊÊ SURREY PUB – Great location. Nets over $200,000. Asking $1,000,000 for business GAS STATION (LAND & BUILDING) FRASER SILVER CHALLICE PUB & LIQUOR STORE – Land & Building – Foreclosure $879,000 VALLEY PRICE: $1,900,000 FRASER VALLEY PUB - Nets $200,000 plus. Cap rate 19%. Very clean operation. UÊ Û}Ê>VV`>ÌÊUÊÎÊL>ÞÊiV >VÊà « Great location. Share sale $999,999 UÊÊ1>ÕÊÛ}Ê>}iVÞ]Ê ÃÌÀi]ÊÊ >Ì>ÊLÀ>`Ê>iÊ}>ÃÊÃÌ>Ì]ÊÊ NANAIMO PUB & LIQUOR STORE – $1,050,000 vLiÀÊ}>ÃÃÊÌ>à 2½ acres. Land & buildings. Priced @ 1 x gross sales. Asset sale. Includes 2 suites. UÊ} Ê>À}ÃÊÊvÊÃ`iÊÃÌÀi PRICED TO SELL SHUSWAP PUB & LIQUOR STORE $995,000 – Shopping centre location. Agents: GAS STATION (LAND & BUILDING) FRASER VALLEY PRICE: $2,800,000 NEW WESTMINSTER PUB & LIQUOR STORE – $3.1 MILLION. Great potential. UÊÊ"ÛiÀʤÊ>VÀiÊvÊ>`]Ê Õ}iÊLÕ`}]ÊÊ 300 new residences planned. VÀiÀÊÌ SHUSWAP – Pub & liquor store. Great location. Gorgeous Property. UÊÊLiÀÊ}>ÃÃÊÌ>Ã]ÊiiVÌÀV>ÞÊÌÀi`]Ê>Ì $3,450,000. Land & Building. OFFERS! 16% CAP RATE >ÊLÀ>`Ê>i TO ADVERTISE UÊÊ6iÀÞÊ}`ÊÛÕiÃ]ÊÊLÕÃiÃÌÊÀ>`ÊÊÌÜ SHERIDAN LAKE PUB – Bring any offer! 7,000sq. ft. 2 level Log bldg. MUST SELL! 20 ACRES – BLUEBERRY FARM KOOTENAY HOT SPRINGS PUB & LIQUOR STORE 16.6% CAP RATE FRASER VALLEY PRICE: $1,400,000 Land & Building nets $650,000 – Asset Sale. Slashed to $3,900,000 UÊ"ÊVÌÞÊÜ>ÌiÀ HERE NEW WEST PUB & LIQUOR STORE – $2,800,000 Nets $500,000 plus COMMERCIAL RESIDENTIAL (MIXED) CHILLIWACK – PUB & LIQUOR STORE & RESTAURANT excellent money maker UÊ iÜÊLÕ`}ÊUÊ >Ì>ÊÌi>Ì $3,200,000. Great lease. UÊÛ>>LiÊÃÊÊV>ÊvÀÊ`iÌ>à call Gary Takahashi NORTH OKANAGAN HOTEL PUB & LIQUOR STORE – asking $1,250,000 excellent opportunity. All offers presented. toll-free: 1-800-661-6988 MORE DETAILS CALL: NEIGHBOURHOOD LIQUOR STORES - PUBS - HOTELS - RESTAURANTS direct: (604) 608-5111 IF WE DON’T HAVE IT LISTED WE WILL FIND IT FOR YOU! or fax: (604) 669-2154 PAMMI MANDAIR MANY NEIGHBORHOOD PUBS IN ALL PRICE RANGES NOW AVAILABLE. CELL: 604-825-8121 BARRY BOCK / DON KAYTOR OFFICE: 604-859-3141 Phone 604-575-5262 Phone 604-576-9285 [email protected] GLENAYRE REALTY HOMELIFE BENCHMARK TITUS REALTY Fax (604) 575-2214 Email: [email protected] Website: www.barrybock.com www.homelifebc.comwww.homelifebc.com WESTERN INVESTOR MAY 2010 www.westerninvestor.com Lower Mainland A21 For Sale 8"/5&% 2600 square ft. COMMUNITY HALL and adjacent parking lot on two lots in downtown Cloverdale. #:*/7&4503 s $0 APPLICATION IS IN PROGRESS FOR UNITS ON PROPERTY -PXFS.BJOMBOE"QBSUNFOUCVJMEJOHT s (ALL BOASTS LARGE COOKING AND FOOD PREPARATION AREA CLOSED IN SERVING KIOSK ASSEMBLY HALL WASHROOMS ADDITIONAL SQFT LOFT AND TABLE TVJUFTBOEMBSHFSJOBOZDPOEJUJPO AND CHAIRS TO SEAT .BZDPOTJEFS7BODPVWFS*TMBOEBOE s %VENT RENTAL INCOME CURRENTLY AT YR WITH FAR MORE POTENTIAL FOR THE RIGHT INVESTOR !SKING $1,250,000. #$*OUFSJPSBTXFMM #ONTACT Art 604-835-5357 +PIO604-618-5522 MISSION INDUSTRIAL / COMMERCIAL RYDER LAKE HOMES & PROPERTIES CHILLIWACK, BC Attention Cookstown, ONT - 87 pads, 14.95 acres ..5,600,000 !CRES )NDUSTRIAL ,AND s Clearwater, BC - 20 pads, 17.68 ac. Res .... 999,000 Designated INL-1 Zone, Industrial Light Impact. Excellent Exposure at corner of London Avenue Oyen, AB - 54 pads, 6.0 ac +/-, 2 parks ... 950,000 39.2 ACRES Homelife and Mission Way. High Visability from Mission $739,900 Prince George, BC - 21 pads, 2.31 acres 810,000 Bridge. Some area affected by Agents: Burns Lake, BC - 32 pads, 17 acres ...... 600,000 restrictive covenant. Langenburg, SK - 60 pads, 14 ac ...... 525,000 39.4 ACRES $749,900 TO ADVERTISE gXg $ESIGNATED #OMMERCIAL Houston, BC - MH & RV Park, 40 ac+/ ... 399,000 District shows Core Commercial on OCP. 50 ACRES $800,000 High Visability from Lougheed Hwy. 10 ACRES $499,900 HERE Includes 2 bedroom rental home. 10 ACRES $370,000 Toll Free: 1-888-251-2822 call Gary Takahashi Direct: 604-302-3771 toll-free: 1-800-661-6988 Fax: 1-888-804-1394 IAN HORNBY direct: (604) 608-5111 Email: [email protected] Call LANCE HILL Offi ce: 604-795-2955 or fax: (604) 669-2154 604-826-2699 )#) #OMMERCIAL www.mobileparks.com HOMELIFE GLENAYRE Cell: 604-799-1955 HOMELIFE GLENAYRE [email protected] Homelife Glenayre Realty [email protected] REALTY e-mail: [email protected] REALTY CHILLIWACK South Surrey Residential RICK 7% CAP Development Property TOOR [email protected] Commercial Building $1,550,000 Offi ce: 604-795-2955 GLENAYRE REALTY Cell: 604-897-0260 CHILLIWACK "Your Commercial Specialists" FOR LEASE UÊÊ>ÀÛ>À`Ê*>Vi]Ê«ÀÛ>ÌiÊvwÊViÃ]ÊvwÊVi]Êfxxä³É]Ê Ü>V UÊÊxÈäÊ/ÞÃÊ1ÌÊÓäÓ]ÊÓäÇõvÌ]ÊvwÊVi]ÊfÓxΣÉ]Ê Ü>V Commercial Building $99,000 UÊÊ9>iÊ,>`ÊiÜÊÊÌÀiÊLÕ`}®]ÊÎxää³ÃµvÌ]ÊÀiÌ>É Ü>Ài ÕÃi]ÊfÇxää³É]Ê Ü>V FOR SALE UÊÊ{xÓÊ7i}ÌÊÛi]ÊÎnääõvÌ]Ê,iÌ>ÉvwÊVi]ÊfÓxääÉ]Ê Ü>V UÊÊÇ{änÊ6i``iÀÊ,>`]Ê£äääõvÌ£nääÃvÌ]ÊÀiÌ>ÉvwÊVi]Ê s 'RANDVIEW (EIGHTS !REA fÓxääÉÊvÀÊ£äääõvÌ]Ê Ü>V UÊÊ£ä£ xÈ£xÊ/iÃiÞ]ÊÈÈnõvÌ]ÊÀiÌ>ÉvwÊVi]Êf£{ääÉ]Ê s !CRE 3ITE Ü>V UÊÊxÈxnÊ6i``iÀ]ÊÕ«ÊÌÊäääÊõÊvÌ]ÊÀiÌ>ÉvwÊVi]Êf£äf£nÊ«iÀÊÃµÊ s 0ROPOSED 3INGLE &AMILY -ULTI &AMILY vÌ]Ê Ü>V M1 Land 7000 square feet $175,000 s .#0 #URRENTLY 5NDERWAY UÊÊÓÈäÈÊ i`>ÀÊ*>ÀÊ*>Vi]Ê£xääÊõÊvÌ]ÊÀiÌ>ÉvwÊVi]ÊfÓxääÉ]ÊLEASED LLÌÃvÀ` DEVELOP IN APPROXIMATELY YEARS UÊÊ ÕiÀ`}iÊ ÀÛi]Ê£äääÊõÊvÌ]ÊÀiÌ>ÉvwÊVi]ÊfÓxääÉ]ÊLEASED LLÌÃvÀ` s ,IST 0RICE $19,500,000 ÊFOR SALE (BUSINESSES AND BUILDINGS) UÊÊ*ÃÌ>É iÛiÀÞÊÀ>V Ãi]ÊfÓ£]ää]Ê Ü>V UÊÊ{xnÈÇÊ,>Ü>ÞÊÛi°°°° £Êâ}Ê>`]Êf£Çx]äää]Ê Contact Bernie Scholz Ü>V UÊÊÀ>V ÃiÊ,iÃÌ>ÕÀ>Ì]ÊfÎÇx]ää]Ê Ü>V Commercial Building $275,000 HOMELIFE Bernie Scholz Agencies UÊÊLLÞÊ7>ÌiÀÊ-ÌÀi]Êfnä]äää]ÊLLÌÃvÀ` UÊÊÇÓ{{Ê*iiÀÊÛi]ÊÝi`ÊÀiÃ`iÌ>ÊViÀV>ÊÊLÕ`}]Ê OVER 2.4 ACRES $1,499,000 fÎ]ää]Ê}>ÃÃâ iÛiÊ>`]ÊV>Ìi`ÊÊ9>iÊÀ>`ÊÊ Ü>V°Ê ÃiÊÌÊ16Ê>`Ê 604.531.1111 UÊÊÇÓxÊ{Ì ÊÛi]Ê*>>}Ê*ââ>ÊÜÌ ÊLÕ`}]Êf{x]ää]Ê«i } Ü>Þ°Ê<i`Ê - °Ê www.homelifebc.comwww.homelifebc.com A22 Lower Mainland www.westerninvestor.com MAY 2010 WESTERN INVESTOR FOR SALE Industrial Warehouses For Sale BUILDING “A”: Available Properties 1 /Ê£äÓÊqÊÎ{Ó{Ê-ÊÊUÊÊ1 /Ê£äÊqÊ£ÇäxÊ- BUILDING “B”: SURREY FLEETWOOD 1 /Ê£ÓÈÊqÊÓ£xÓÊ-ÊÊUÊÊ1 /Ê£ÎäÊqÊ£Ê-Ê 10,000+ sq/ft ESTATE HOME Large 17,147 sq/ft lot $1,999,000.00 $559,000.00 BUILDING “C”: 1 /Ê£{ÎÊqÊÎx{ÈÊ-ÊÊUÊÊ1 /Ê£{ÈÊqÊÎx{ÈÊ-ÊÊUÊÊ1 /-Ê£{nÉ£{É£xäÊqÊ£ä]È{nÊ- MAPLE RIDGE PORT COQUITLAM 16 ACRES + Large Home 4 LOT SUBDIVISON Second Floor Strata Offi ces $2,100,000.00 $1,249,000.00 BUILDING “A”: 1 /ÊÓä£ÊqÊÓäÈxÊ-ÊÊUÊÊ1 /ÊÓäÓÊqÊ£ÈÓnÊ-ÊÊUÊÊ1 /ÊÓä{ÊqÊäÊ- PENTICTON PENTICTON BUILDING “B”: LUXURY MOUNTAIN TOP HOME LAKEFRONT PENTHOUSES 1 /ÊÓ£ÇÊqÊÓäÈäÊ-ÊÊUÊÊ1 /ÊÓ£nÊqÊÓÎnÊ-ÊÊUÊÊ1 /ÊÓÓÊqÊÓÇÓÎÊ- $2,499,000.00 1 BDRM: 529,000.00 | 3 BDRM $1,599,000.00 1 /ÊÓΣÊqÊÓäxÈÊ-ÊÊUÊÊÊ1 /ÊÓÎÓÊqÊÓä£ÇÊ- LANGLEY OSOYOOS UNIT CAN BE JOINED UPTO 7,181 & 4,073 SF 46 PRIVATE ACRES (2 Titles) LAKEFRONT RV LOTS FROM ONLY ALL UNITS HAVE HVAC – COMMON WASHROOMS $6,250,000.00 $125,000.00 ELEVATOR TO SECOND FLOOR WHITE ROCK WHITE ROCK NEW EXECUTIVE 6 BDRM HOME NEW OCEANVIEW HOME FOR LEASE SALE PENDING! $879,000.00 $1,189,000.00 White Rock 600 to 750 SF of Commercial Space COMOX LANGFORD NEW PRIME RETAIL SPACE FOR LEASE NEXT TO POPULAR CONDO SITE APPROVED FOR UP TO 188 UNITS RETAILERS SUCH AS SHOPPERS DRUG MART. REDUCED! $4,399,000.00 Call For Details or Viewing SOLD PHOENIX, AZ SURREY (Clayton) 19 RENTAL HOMES SOLD 10 LOT SUBDIVISION BRUCE NORMANTON $1,330,000.00 USD 10% RETURN! REDUCED! $1,249,000.00 Phone: 604.671.0516 Please visit our website for more details Trades considered. Financing Available Fax: 604.882.1499 www.monark.com We have Buyers Looking for: Email: [email protected] Coronation Park 604-592-7250 Golf Courses, e-commerce companies INVEST IN THE ONLY BOUTIQUE HOTEL IN THE WINE CAPITAL OF CANADA UÊÎä¯Ê,ivÕ`>LiÊ/>ÝÊ Ài`ÌÊUÊ,-*Ê }LiÊÀi>ÌÊ,"Ê*ÌiÌ>ÊUÊÛiÃÌiÌÊ-iVÕÀi`Ê/ ÀÕ} Ê"ÜiÀà «ÊÊ Õ`}Ê UÊ1µÕiÊ ÝÌÊ-ÌÀ>Ìi}ÞÊUÊ ° °Ê À«À>ÌÃÊ+Õ>vÞÊÀÊÎä¯Ê/>ÝÊ Ài`Ì LZ^ck^iZndjid_d^cjh^ci]^hjc^fjZdeedgijc^inl^i]hda^YGD>ediZci^Va JcWZa^ZkVWan!Da^kZg!78! i]Z ÄL^cZ 8Ve^iVa d[ 8VcVYVÅ!]Vh cd ajmjgn ]diZa# IZch d[ i]djhVcYh d[ V[ÑjZci k^h^idgh Zc_dni]Z VgZVÇh ViigVXi^dchZkZgnnZVg!Wjii]ZaVX`d[jehXVaZVXXdbbdYVi^dcegZkZcihi]Zb[gdba^c\Zg^c\Vhadc\Vhi]ZnÇYa^`Zid#I]ZdcanadY\^c\h VkV^aVWaZVgZV[ZlhbVaabdiZahVcY77h!idiVaa^c\aZhhi]Vc&*%gddbhÃcdicZVganZcdj\]idhVi^h[ni]ZYZbVcYh#Da^kZgHj^iZh=diZa K88>cX#egdk^YZhVjc^fjZdeedgijc^inidhdakZi]^hegdWaZb!l]^aZVii]ZhVbZi^bZegdk^Y^c\^ckZhidghl^i]Vhda^YGD>ediZci^VaVcY V]j\Z(%gZ[jcYVWaZiVmXgZY^i^[ndj gZV78gZh^YZciVcY788dgedgVi^dchgZXZ^kZV(%iVmXgZY^i#8jggZcianjcYZgXdchigjXi^dc!i]Z ]diZaXdjaYWZdeZc[dgWjh^cZhh^ci^bZ[dgi]Z;VaaL^cZ;Zhi^kVa# I]^h^higjanVc^ckZhibZcideedgijc^inndjl^aalVciidhiVn^c# Visit our website for more information: www.oliversuiteshotel.com *No offering is made or intended by this communication. Any offering of interests in Oliver Suites Hotel VCC Inc. will be made only in compliance with applicable provincial securities laws. WESTERN INVESTOR MAY 2010 www.westerninvestor.com Lower Mainland A23 62 LOT SUBDIVISION 9.7 acre lot in Grandview Area South Surrey Future potential of 62 lots. NCP is already in progress No creek level property. House rented long time. HIGH RISE DEVELOPMENT 1.5 acre land. Half block from Gateway Skytrain Station Two high rise projects across the street are under construction and are fully sold. Can build up to 30 Stories. RESIDENTIAL DEVELOPMENT SITE 14.09 Acres in South Surrey OCP designated for RM-15 Town homes. 2 septic sites were approved in the past. Good holding land in phase #3. MULTI FAMILY INVESTMENT OPPORTUNITY California / Arizona Seeking qualified Cash Buyers For: 80 Units - $1,500,000 76 Units - $1,500,000 45 Units - $1,899,000 247 Units - $4,000,000 And many more Contact Information Gurdev Sandhu / Varinder Grewal Phone 604 691 6635 or [email protected] Committed to Canada. Connected to the World. Macdonald Commercial R.E.S. Ltd JORDAN ENG ,!.$ !33%-",9 s $%6%,/0-%.4s ).#/-% 02/0%24)%3 (604) 728-0883 FOR SALE or LEASE – Prime Investment Property, Maple Ridge | $4,998,000 RICHMOND HIGH RISE SITE 4,000 to 40,000 Sq. Ft. of office & warehouse space of lease, located seconds 1.5 Acres * Residential Development Site w/Income from new Golden Ears Bridge. Available for immediate possession. Hotel * Commercial Central Mount Pleasant Site at East 8th FOR SALE – Fraser Valley Investment Opportunity Adjacent to new and Main Street. C3A zoning. Holding income. Wall Centre Development Long term investment to acquire 5742 sq. ft. of prime office strata unit. Solid tenant, 145 foot frontage. Asking $7,300,000 great location and exceptional interior design and finish. Good ROI at 7% Cap. Sky-Train & No.3 Rd Location Sale Price: $9,200,000 SENIOR HOUSING DEVELOPMENT READY TO COMPLETE Dennis Germyn | 604.590.2444 | [email protected] FOR SALE www.dennisgermyn.com | www.investinbc.biz APARTMENT BUILDINGS FOR SALE • 57 u. White Rock – excellent condition. Price reduced. 85 units - Foundation in place - Ready to complete, All plans, • Newer fully occupied mixed-use complex in Fairhaven area of Bellingham. studies, budgets, permits. $40,000 per unit 60 u. plus 17,000 sq. ft. commercial. Asking $14,888,000 (U.S.) WHISTLER REVENUE PROPERTY $468,800 • 112 u. New Westminster High Rise – Views, U/P. Asking $16,500,000 (offers) Townhouse, 3 Bdrm, 3 Bth, 1,100 SF, 5 minute walk to Creekside • Prime West End development site,132 X 131 (under contract) Gondola. Long term tenant. Income $2,950 per month. Complex sites on 10.5 acres. Development potential w/higher density. • Prime Port Coquitlam condo development site for 35/40 u., 37,800 sq ft buildable | $1,650,000 91.6 ACRE ESTATE LOT Hwy. #1 Frontage • 12 u. Marpole – needs TLC • 15 u. New Westminster (4.75% CAP) @ 216th Ave., Langley • 26 u. West End mid-rise • 6 u. West End (Strata) HOT! Income Producing High Traffic 10.76 ACRES TO • 8 u. Kits W. 4th Ave, C-2 zoning BUILD A David/Mark Goodman | 604.736.5611 COMMUNITY REDUCED [email protected] | goodmanreport.com Sell or J.V. FOR SALE BY COURT ORDER Parternship Penticton waterfront development site CONDO & COMMERCIAL INVESTMENT PROPERTIES 2327 E. Hastings St. New developments • Potential for 21 residential units and 4 commercial units WHISTLER CONDO – 5 Bd, 3 Bth, 2,300 SF, nightly nearby. Established tenants. Asking $1,048,000 rentals allowed. $1,200,000 • Excellent location MAPLE RIDGE – Commercial Strata Unit, 1,097 SF, Strata Retail Investment • Asking Price $2,100,000 Lougheed Hwy., Retail Location, 6 Parking Stalls, currently a Doctors Offi ce, can be converted to large FOR SALE Gary Khan | 604.714.4799 or Paul Buckley | 604.551.7751 retail unit. $338,000 3272 West Broadway SOLD – Hotel of the Rockies, Canmore Alberta, 99 rooms | priced at $9 million FOR LEASE – Former ICBC offi ce. Mission Court House - 1,000-8,000 SF, FiberOptic lines, views, corner of 7th & Established high traffic location. Long term FOR SALE Cedar Valley, 3 levels - high traffi c. Inquire tenant. Solid income. Asking $574,000 • 22 room hotel w./ restaurant – under contract, Abbotsford, BC | $2,500,000 ALBERTA DEVELOPMENT LAND Restaurant For Lease • Days Inn Hotel, Chilliwack | Only offered at $2,200,000 42 ACRES - Poplar Bay Resort, designated for creation of 27 269 N. Terminal, Nanaimo BC • Prime development site in Pentiction. Crown Resort, 30 Units lakeshore lake side lots, Subdivision Appraised Value $3,945,000. drive, lake front,1 acre | Asking $3.5 million Sale: $2,000,000 Central location. Reasonable rent. • Canada Best Value Inn, 45 units, Cache Creek | $2 million 69 ACRES – Inside Wetaskiwin City Limits, Residential, Close to Downtown. $2,700/m Multi Family, Commercial, Light Industrial BP Plans. • Various hotels available in BC and Alberta. Exclusively from $2 – $20 million. Sale: $2,400,000 Food Production/ Call for details. Warehouse For Lease Hamir S Bansal | 604.714.4770 | www.hamirbansalcommercial.com Your specialist in PRIME income-generating and redevelopment opportunities: 485 Commercial Drive FOR SALE 9,500 sf. High visibility corner location at East • Corner strata unit at Yukon & West 8th Ave. near skytrain station. 1,226 DANIEL K. Pender Street. Close to Downtown. square feet; ideal for owner uses. Available immed. $8/sf. PRESTON • Yaletown strata units on Pacific Boulevard. Fully leased to solid tenants with long term leases. 604-617-5981 Chinatown Retail For Lease [email protected] Eric Poon | 604.714.4768 418 Main Street VIEW ADDITIONAL LISTINGS ON THE WEB High pedestrian traffic. Central loc. Excellent exposure. 1,394 sf $12/sf. Vancouver 604.736.5611 | Fraser Valley 604.590.2444 | www.macdonaldcommercial.com www.danpreston.ca A24 Lower Mainland www.westerninvestor.com MAY 2010 WESTERN INVESTOR BALJIT KOCHHAR ONTARIO DIRECT: 604-725-4406 A RARE OPPORTUNITY HOTEL/MOTELS FOR SALE Mattu Realty 604-572-1008 Seller Relocating 125 room F/S – Rev. $3M COMMERCIAL SPECIALIST www.planetgrouprealty.com UÊÊÃÃiÌ]Ê- >ÀiÊÀÊ>ÃÊ>Ê 7"/$067&3)*3*4&4*5& RESTAURANT/BAR ÛiÃÌiÌ UI Uʺ>Ì>ÃÌVÊ1«Ã`i» ,JOHTXBZ A very hot Broadway location Price $7.5M 1PQVMBS4.BJOBSFB Sales exceed $1 million a year TUPSFZTXJUIHSFBUWJFXT Owners net income in excess Gas Station/Motel of $200,000 a year. UÊxnÊÀà $"[POFEWBDBOUTJUF UÊÌÌ>ÊÀiÛiÕiÊf£°n Ê /FU4JUF4J[F GU COMMERCIAL Price $1.3M 1SFMJNJOBSZ%1GPSVOJUT NEW LISTING – ASKING $1,200,000 Sutton Westcoast JOEL KORN GUCVJMEBCMFBSFB GAS STATION & CONVENIENCE (604)722-4588 [email protected] > Russell Info package available STORE SITE IN WHISTLER, BC Sutton Centre RAV RAMPURI TCB RLTY 416-433-8688 with Esso & Tim Hortons On the Run. R.E. BRKG tcbrealtyltdbrokerage.com -"/(-&:"$3&4*5& Assignment of contract. Call for details (604) 351-8988 °UI4USFFU FOR SALE NEW LISTING – ASKING $3,900,000 I-2 INDUSTRIAL PROPERTY RICHMOND (SPTTBSFBBDSFT 51 UNIT TOWNHOME SITE Powell River Investment Next to Knight Street Bridge 8JMMPVHICZ:PSLTPO$PNNVOJUZ IN MAPLE RIDGE 3.796 Acres w 60,000SF BUILDING OPPORTUNITIES $5,500,000 1MBOEFTJHOBUFEGPSUPXOIPVTF 3rd reading almost complete. 3 acre site with 77,000 sq ft buildable area. 1SPQPTFEVOJUT In-Town Oceanfront Development RETAIL FOR LEASE *OGPQBDLBHFBWBJMBCMF Multi-purpose Waterfront Development 2050 SF YALETOWN ROUNDHOUSE APPROX. 100 ACRES Property; 97 acres gently sloping land Next to Canadaline For more information, call 50 Acres IL zoning, 50 Acres zoned residential. + approx 19 acres of foreshore with $67.00 NNN Sale Possible Pitt Meadows. Asking Price $53,000,000 deep water access $3,100,000 'PSNPSFJOGPSNBUJPO DBMM FOR SALE APPROX. 17 ACRE BERRY FARM Magnifi cent Waterfront Acreage 23 room accomodation Squamish BC 245 acres west sloping land incl. 23 Rooms Savey Mattu 39456 & 39452 South Parallel Rd, Abbotsford, BC. $3,250,000 Drip system in place. City water on site. Can build approx. 2700’ waterfront; incredible 2 homes. ASKING $1,155,000 panoramic views 3,100,000 ALEX YUEN 604-338-1800 Ideal Farm Land alex@macrealty .com TBWFZNBUUV!IPUNBJMDPN 50 ACRES 31 acre level parcel; zoned A2 Large Macdonald Realty Ltd. Farm land Berry Panorama Ridge Area, Surrey Lot Rural $279,000 ASKING PRICE $3,200,000 Agri-Business Opportunity "UUFOUJPO*OWFTUPST %FWFMPQFSTBOE#VJMEFST 117 acres fairly level land; ideal for ag- "DSFTPG'MBUMBOE JO#FBVUJGVM)PQF #$ BUY PROPERTY PLUS BUSINESS ricultural business; many possibilities Convenience Store on King George Hwy, Surrey. $649,000 Plus 3 bedrm suite upstairs. 20 years in the s 3UBDIVIDABLE INTO LOTS business – Owners retiring. Solid Building. Great Holding/Development Asking Price $749,000 30 acre wooded parcel; zoned M3 In- s 3ERVICES !4 LOT LINE 3CHOOL AND dustrial; easy access; services available AMENITIES NEARBY BUSINESS FOR SALE $349,000 DAY SPA AND SALON – COQUITLAM BC Sears Canada Catalogue Store s #URRENTLY TREED 6 years in business, well established Corporate clients. Good return 4000 sq ft space, Well established business; loyal 3OME GOOD 6ALUE IN THE 4IMBER high end. ASKING $499,000 customer base; 5400 sqft lease space; s 1SJDF3FEVDFE convenient location in major shopping LOOKING FOR A SHOPPING CENTRE district $269,900 1IPOF IN THE LOWER MAINLAND Cranberry Lake Nursery GPSNPSFJOGPSNBUJPO $15 Million to 20 Million Well established turn-key business; 7+ acres on 3 lakefront lots; 15000+ sqft greenhouse space; 3+1 bdrm lakefront home $549,000 Deep Water Moorage in Lund 3 acres low bank waterfront property; private cove setting; minutes from Lund harbour; plus 48 acre wooded parcel across hwy; owner may consider 50% partnership $1,725,000 TEXADA ISLAND UPPER SUNSHINE COAST $799,000 Gillies Bay General Store Fabulous Family Business Opportunity 238 Fell Avenue, North Vancouver, B.C. s BEDROOM SUITE PLUS OFl CE s !DDITIONAL UNl NISHED BDRM SUITE UÊ/ÜÊÌinant building s $ELI BUTCHER SHOP PRODUCE BAKERY UÊÛiÊ>`ÊÌiÊÞi>ÀÊi>ÃiÃÊÊ«>Vi s ,IQUOR VENDOR MOVIE RENTALS s #ANADA 0OST OFl CE !4- UÊ>Ì>ÃÌVÊV>Ì s #OFFEE SHOP LOTTO SALES UÊ} iÃÌʵÕ>ÌÞÊLÕ`} www.westerninvestor.com s 0ROPANE l LL UP STATION 1-800-661-6988 s 'ROSSING OVER MILLIONYEAR UÊÊÛiÀ>}iÊViÊf£{{]Î{{Ê«iÀÊ>ÕÊ / UÊÃ}Ê«ÀViÊ$2,600,000 Subscribe Warren Behan www.WarrenBehan.com Contact information: Chris Davies and Peter Hall 1-877-485-2324 Tel: (604) 718-7300 Fax: (604) 718-7307 [email protected] Email: [email protected] Warren Behan Personal Real Estate Corporation WESTERN INVESTOR MAY 2010 www.westerninvestor.com A25 FEATURE With land topping $1 million an acre, developers looking for infill sites and higher lease rates 3FUBJMEFOTJUZ the Mount Lehman interchange will cover 90 PETER MITHAM per cent of the site rather than the typical 25 per WESTERN INVESTOR cent to 35 per cent coverage. Parking will be incorporated within the structure of the centre, edevelopment of town-centre which Kwiatkowski describes as a hybrid of properties and more intensive uses suburban and urban retail models. 3of greenfield sites are what retail Kwiatkowski points to Wal-Mart’s approach development is all about as an under-retailed in areas such as South Surrey. Wal-Mart’s region gets back on its feet. location at Grandview Corners (24th Avenue Shape Properties Corp. of Vancouver is and 160 Street) features under-store parking, pursuing both approaches. which allows the store to maintain its footprint Shape recently joined with Healthcare of but eliminates the need for a huge parking Ontario Pension Plan to buy Brentwood Town lot. A similar approach is being followed in Centre in Burnaby from Ontario Pension Abbotsford. Board for approximately $100 million and It not only helps Shape maximize use of the plans to redevelop the mall, which originally site, but it also reflects the drive to density hap- opened in 1961. It’s also building an ambitious pening across the Lower Mainland driven by Shape Properties Photo: centre adjacent to the new Mount Lehman land costs. Brentwood Mall: Ontario pension group, Shape Properties plan to triple the size to 1.5 interchange in Abbotsford. “You wouldn’t see that in Alberta, you million square feet, plus residential. Both projects are ramping up on-site den- wouldn’t see that in the United States,” that on for size.” Corners in Surrey, as well as Onni Group’s sity, a reflection of the shortage of available Kwiatkowski said. “It’s a trend unique to the But there’s another factor at play – sheer Fremont Village development in Port development sites in the Lower Mainland. Lower Mainland, a very land-constrained mar- economics. Coquitlam, not to mention Shape’s projects in Competition for sites has increased the per-acre ket, and a population that’s very urban that’s the Fraser Valley. cost of most sites above $1 million, at which not getting in their cars and driving out to the -BOETIPSUBHFT But the common elements in most of the pro- point landlords would need to fetch rents even ring road – the retailers are coming to them.” Epp, who has traditionally focused on new jects are Wal-Mart, and the mixing of uses. anchor tenants aren’t willing to pay. Still, there are challenges. projects, has spent much of the past two “Any development over 500,000 square “There just isn’t the developable land, Abbotsford isn’t quite downtown Vancouver, years filling vacancies in existing projects. feet will likely have a Wal-Mart,” said even if you’re in Abbotsford,” said Darren where compact retail design has given rise to Development costs and the rents tenants are Derick Fluker, a retail broker with Colliers Kwiatkowski, executive vice-president of urban-style power centres in areas such as the willing to pay have stalled new projects in International. “From there it just becomes a Shape, said. Cambie-Broadway hub in Vancouver. It’s a many areas. larger development.” The challenge is prompting Shape to pur- harder sell in suburban markets where transit “There’s just no tracts of land available that Mixing uses, as several projects in Vancouver sue opportunities such as the redevelopment isn’t the dominant or even the most convenient guys can plan new projects on at this point,” he have demonstrated, allows developers to incor- of Brentwood, which it plans to triple in size means of transportation. said. “Until we see land prices come off signifi- porate lucrative residential units that effectively from approximately 500,000 square feet today “Retailers are becoming accustomed to it cantly or retailers really stepping up to pay big, subsidize retail units, typically located at grade to 1.5 million square feet by 2015. Retail space because that’s what they’re seeing in urban big numbers, I don’t see a huge amount of new or in the podium of a tower. as well as office space and residential units will Vancouver,” said Shane Epp, associate vice- projects coming on stream, at least in the main Fluker said when new residential develop- be added to the mall. The complex will be inte- president with CB Richard Ellis in Vancouver. suburban areas.” ment ground to a halt in 2009, the supply of grated with transit in keeping with municipal Grocers and drugstores are catching on to the With high land prices and construction costs new retail space also stopped. plans for the site – designated as one of Metro model, too, even though most suburbanites of $120 to $150 per square foot, Epp estimated Metro Vancouver retail vacancies ended Vancouver’s town centres in the 1996 regional continue to drive for weekly shopping. that a new mall would have to command rents 2009 at 3 per cent, down from 4.2 per cent growth strategy. “If it’s the only game in town, it’s much in excess of $30 a square foot to be viable – at at the beginning of the year. Power centres easier to sell,” Epp said of the new, compact least twice as much as most anchor tenants are and mixed-use properties boasted the lowest "CCPUTGPSE forms of retail. “If they’re competing against willing to pay in suburban markets. vacancy, at just 0.9 per cent, while neighbour- But it’s also maxing out density in Abbotsford, an existing food store across the street in a tra- Notable exceptions are Morgan Crossing hood and super-regional malls had the highest where site coverage of its High Street project at ditional format, a lot of guys don’t want to try by Larco Investments Ltd. and Grandview at 4.1 per cent and 5.6 per cent, respectively.◆ -PXFS.BJOMBOE FOR SALE G:6A:HI6I: PUBS FOR SALE INDUSTRIAL LAND CHILLIWACK Lower Mainland 6J8I>DC Pub & Liquor Store Opportunities >CK:HIB:CIDEEDGIJC>IN JgWVcAd[iA^k^c\^ci]Z=ZVgid[HZX]Zai!7#8# &)Jc^ihVkV^aVWaZ·)Jc^ihidWZHDA9 jcgZhZgkZYidi]Z]^\]Zhi7^YYZg 6aajc^ihVgZXjggZcianiZcVciZYl^i]VlV^ia^hi# 3 LOTS - 1/2 ACRE EACH Zoned M-2 6lVgYl^cc^c\YZh^\c!B>9IDLCd[[ZghVXdciZbedgVgn $339,000 EACH jgWVc!LZhi8dVhi[ZZal^i]^ci]Z]ZVgid[9dlcidlc 1 LOT - 10.6 ACRES Dual Zoning M-3 & M-4 6aajc^ihXdbZXdbeaZiZl^i]Veea^VcXZh#FjVa^inÄc^h]ZY $5,350,000 l^i]]VgYlddYÅddgh!=jciZg9dj\aVhWa^cYh!hda^YlddY s ,OTS ARE LEVEL WITH COMPACTED XVW^cZih^c`^iX]ZchVcYWVi]h!ÅddgidXZ^a^c\l^cYdlh GRAVEL BASE VcY. XZ^a^c\h#LVa`idVaaVbZc^i^Zh s 3OME LOTS OFFER DUAL ROAD FRONTAGE s -ANUFACTURING DISTRIBUTION I]^hVjXi^dc^hegZhZciZYWn6WaZGZVain8dge#&(&"-i]HigZZi!CZlLZhib^chiZg!7#8#K(B(E+ WAREHOUSING FOOD PROCESSING For Lower Mainland Pub Opportunities call: OUTSIDE STORAGE ETC JOHN JOHNSON ;jgi]Zg>c[dgbVi^dcdca^cZ5 BOB PLOWRIGHT REALTY lll#VWaZgZVain#XV Tel: 604-319-2504 CHILLIWACK, BC Fax: 604-463-5287 1-800-830-7175 - 604-858-7179 9Vc7djX]VgY PRUDENTIAL [email protected] &"---"*'&"''*( STERLING www.bobplowright.com 6WaZGZVain8dge#"+%)"*'+"...- REALTY LTD. JOHN JOHNSON A26 Lower Mainland www.westerninvestor.com MAY 2010 WESTERN INVESTOR ▲ June 2010 deadline May 10th • REPORT: Waterfront real estate • Buying foreclosures • Native land developments • Fishing lodges • Franchise News • Recreational Properties • REGIONAL ROUNDUPS • BC: Kamloops • AB: Grande Prairie • MB: Steinbach • SPOTLIGHT: Ucluelet, BC ▲ July 2010 deadline June 14th • REPORT: Industrial real estate • Golf course real estate • Mobile home parks • Angel investors • Buying & selling restaurants/pubs • Franchise News • Recreational Properties • REGIONAL ROUNDUPS • BC: Kelowna • AB: Cold Lake • SPOTLIGHT: Fort McMurray, AB Media Kit On-Line @ www.westerninvestor.com call toll free 1-800-661-6988 Commercial Real Estate, Franchises & Business Opportunities 604-669-8500 WESTERN INVESTOR MAY 2010 www.westerninvestor.com Sea to Sky/Sunshine Coast Region A27 SUNSHINECOAST,BC PRIME COMMERCIAL SQUAMISH INVESTMENTS Gateway Corner Property Highway Commercial Property ML#V4017627 INVESTMENT Robbie’s Pancake House Reduced $64,000 Dwtn dev site w/income $1.98 Mil 0.53 Acres, mixed use site $1.40 Mil Busy, long established family restaurant in Gibsons, 1.1 Acre Dwtn Dev Site Retail Revenue Property operating since 2001. Restaurant seats 75 plus 44 seats NEW PRICE $2,575,000 High density zoning, Blks to National Tenants! $829k in the banquet room and can be rented for meetings and DOWNTOWN SQUAMISH occasions. Great visibility, high traffic area. . Oceanfront and University $5.50 Mil Mixed Use Revenue Property ML#V4015937 I-1 Revenue Property Residential/office/other $889k Lot 39 Seamount Road $239,000 0.55 Acre, tenants $1.19 Mil 6 Acre Residential Development Site Light industrial, uptown Gibsons,1 block off main hwy, level and fully fenced. Many uses with great exposure. Mixed Use Site 18,000 sf Panoramic views in Squamish’s best Call Terry for details. Dwtn, blks to oceanfront $1.16 Mil neighborhood $8.00 Mil ML#V4014759 NEW SQUAMISH OCEANFRONT PLAN! Mermaid Street $149,900 OFFICE/RETAIL SPACE, ground level, 800 sq.ft. Great downtown location, high foot traffic and 1 blk to mall Darren McCartney RE/MAX Sea to Sky and transit. Call Terry for details. 604-892-4875 Real Estate ML#V4021517 "The Dock" on Cowrie Street $1,419,000 GREAT COMMERCIAL [email protected] Squamish Mainstreet, downtown location with excellent exposure. INVESTMENT OPPORTUNITY IN 2 level building with retail, store, offices and zoned for residential above. High traffic area with lots of parking. DOWNTOWN SQUAMISH! 10 tenancies in place, many long term and great cap Prime location with great exposure Sunshine Coast – Pender Harbour rate. Call Terry for more info. Mountain View Service ML#V4020280 and lots of traffic. Subject property Sechelt Esso Station $799,000 consists of 2 buildings with approx. Well established Petro-Canada Corner gas station/convenience store in prime down- town location. Lots of potential with large overall sales 12,000 sq ft of leasable area. The service station on 6 acres at busy in gas and store items. Environmental report on file. Call highway corner location. Terry for details. 2 buildings front Pemberton and Second Avenue, right across from Includes fenced storage compound TERRY & PAM the Chieftain Centre Mall. Subject & convenience store BRACKETT property is 100% occupied with with lots of potential a great tenant mix – most have for expansion. 1-800-895-4313 been tenants for over 10 years. Price: $3,500,000 [email protected] FOR A DETAILED PACKAGE CONTACT B6GI>CHEG:C@:AH Bill Hunsche Remax Oceanview Realty 604-905-8525 [email protected] SECHELT [email protected] C21 PERFORMANCE REALTY AND MANAGEMENT Prudential Sussex Realty POWELL RIVER OPPORTUNITIES SELL NEW PRICE NEW PRICE Selling your business? Western WESTCOAST WILDERNESS LODGE 12 UNIT APARTMENT MOBILE HOME PARK FOR SALE Investor Business Opportunity pages Welcome to Cedar Lodge B&B, a well-known 2 buildings. Each building has 6 2-bedroom town Six-unit park with three of the homes owned by the homes in it. Each unit offers a covered patio are organized geographically so read- destination for years. The lodge offers 2 self-contained park. Great income. Park is on the Lang Bay Water suites, 2 B&B rooms and four other bedrooms. There and porch, ocean view deck and a large carport. System and has a septic system in place. Property ers can find the opportunity they want. is also a freshly renovated 3 bedroom cabin, a roomy Town homes have oak fl oors under carpets and is nearly 2 acres. With views of the mountains and concrete block construction to provide sound and walking distance to sand beaches at Palm Beach. workshop plus 2 double carports. The current owners fi reproofi ng. There are also 2 separate laundry and Call now for all the details. $299,000 have just completed a substantial addition and utility buildings plus extra parking. All units are upgrades. They have added over 1200 sqft, upgraded rented. Good income and cash fl ow. call now for the suites and the gorgeous kitchen with granite all the details. REDUCED TO $450,000 each. counters. The lodge is located on 3.5 acres near Okeover AARON MAZUREK 1-800-661-6988 Arm and Desolation Marine Park. $850,000 1-877-485-4231 Do you have a VOJRVF QSPQFSUZ Advertise your listings in our special )051301&35*&4 feature. Reach potential buyers with money to spend. Western Investor readers have higher than average household income and a real interest in real estate. Recreational Real Estate • Limited spaces • 4-colour ads ADVERTISING FEATURE: • Special rates Èä{ÈÈnxääÊUÊ£nääÈÈ£Ènn [email protected] A28 Vancouver Island www.westerninvestor.com MAY 2010 WESTERN INVESTOR PUB AND LIQUOR STORE SEAT s /UTDOOR PATIO s TREED ACRES WHERE NANAIMO DOES s DUAL ZONING s LIVING QUARTERS s (WY FRONTAGE DUTCHY’S INT. KITCHEN REAL ESTATE s 0ICK UP $ELIVERY s 0EROGIES "ORCHT s 7ILL TRAIN s !FFORDABLE $19,700 HOTEL – FULL SERVICE FLAGGED HOTEL BUSINESS FOR SALE s )NCLUDES $ETACHED ,IQUOR 3TORE s .EW 0UB s 0IZZA 3TORE s $4 0ARKSVILLE s 'REAT )NCOME s 7ILL 4RAIN s &ULLY 2ENOVATED 2OOMS s !BOVE .ORMAL /CCUPANCY SUBDIVIDABLE ACREAGE www.3025douglas.com s "ANQUET &ACILITY s !CRES s 7ELL TREED $499,000 $2,449,000 #ONTACT Wayne Dumbrell OR NANAIM0 REVENUE PROPERTY For further information please call; Jim Johnson (250) 756-9700 s &OUR 0LEX s $OWNTOWN s 7ELL -AINTAINED $364,900 s .EW 2OOF 7INDOWS LEASE SPACE DAN JACK 1-800-533-4153 s $OWNTOWN 2ETAIL [email protected] WHITECAP REALTY PARKSVILLE s $OWNTOWN 2ESTAURANT s 7AREHOUSING GFIK8C9 +.)+DX`kcXe[Jki\\k-0#0'' .)./9\Xm\i:i\\bIfX[C`jk`e^gi`Z\)+0#0'' FORECLOSURE OCEAN VIEW DEVELOPMENT FORECLOSURE COURT ORDERED SALES INCOME PRODUCING + REVENUE PROPERTIES 9 Acre, 30 lot subdivision in Chase River FORECLOSURE – 5500 SF SELLER WILL FINANCE! Quiet neighbourgood property is beautifully treed Commercial building on NEEDS WORK And would accommodate 30 – 36 strata single family Terminal Ave. 4 garage 2 homes, 5 suites in total. homes or small lots. Mortgager may finance. bays, 800 sf mezzanine Hold or redevelop. Zoned Trades welcome. office, ideal for automotive, RM-5 for condos. $439,000 $998,000 Glass shop, sales and OCEAN VIEW DEV SITE distribution $499,000 RM5 includes 2 rental houses 2 lots DP for 28 units. $650,000 28 UNIT CONDO DEVELOPMENT SITE NEW! NOW SELLING Fabulous ocean views. 1 acres. Financing available. OCEAN FRONT 3 ACRE TOWNHOME DEV SITE $888,000 CONDOS Stunning ocean view up to 30 units. Trades welcome. “PACIFICA” $1,199,000 38 Front Street Units for sale. INCOME PRODUCING + REVENUE PROPERTIES Call Dale for available units. NORTH NANAIMO 51 UNIT APPROVED PLAN FOR OCEAN VIEW CONDOS 180 UNIT MINISTORAGE Over 1/2 acre site. Financing available. With managers suite & office Asking $1,300,000 Excellent occupancy WATERFRONT TOWNHOME ½ acre additional property 1740 SF 2 bedrooms, hardwood 50 ACRE + ADJOINING 43 ACRE PARCEL for future expansion floors, granite counter tops, roof Subdividable into 5 acre country estates. $1,499,000 top patio. $599,000 Priced at S998,500 33 UNIT MOBILE HOME PARK DOWNTOWN NANAIMO OCEAN VIEW Plus 2 rental houses & 5 RV pads. Needs work, currently NEW WALK ON WATERFRONT TOWNHOME $519,000 High Rise Development site. $1,200,000 has low occupancy with current revenue at $8,500/month Asking $695,000 PANORAMIC OCEAN VIEW DEV. SITE BUSINESS FOR SALE NANAIMO INVESTMENT PACKAGE $550,000 Trendy restaurant & martini lounge with adjoining c-store. 24 Lots approved residential subdivision property North Island 7 condos, rental income over $4500 monthly Cost estimates available Asking $1,475,000 $219,000 INCL. EQUIP. HOTELS & PUBS FULLY SERVICED HOTEL Recently renovated, 30 rooms, 125 seat pub, wine and beer store. Generating over $1.5 million annually and growing. fÓ]äxä]äääÊ-iiÀÊÜÊv>Vi° NORTH ISLAND HOTEL & PUB, WINE & BEER STORE Rooms and restaurants. 2 lots. Over 3.9 Million annual sales. $2,995,000 HOTEL & WINE & BEER STORE 8 suites, pub. Close to Nanaimo airport. $1,190,000 HERITAGE APTS & PUB 13 small apartments. 115 seat pub leased. 70 UNIT APARTMENT BLOCK 2 buildings, 2 legal lots. $38,000 1 commercial space - leased. Generating over $10,000 monthly. monthly income. $3M assumable mortgage at 5.2%. Asking $1,125,000 Asking $5.49M DALE SHORTT Bus: (250) 758-3700 U TOLL FREE 1-800-665-8313 "Vi> È{äÊ/À>ÃÊ >>`>Ê} Ü>Þ]Ê >`ÞÃÌ ]Ê ° °Ê6Ê£ÇÊUÊ >\Ê`>ià ÀÌÌJà >Ü°V> *Ìi WESTERN INVESTOR MAY 2010 www.westerninvestor.com Vancouver Island A29 REGIONAL ROUNDUP The Harmac mill back in business but city faces tax battle, huge hole downtown $3 million into the project since its 2004 incep- tion, while Suro Development Company/ Millennium Nanaimo Properties of /BOBJNPCBSSJFST Vancouver cited another $1.6 million on its side STEVE PYLE of the ledger. All that’s left from the envision- WESTERN INVESTOR ing, planning, engineering, drawing and talk now is an unsightly hole in the ground smack in he Harmac Pacific pulp mill – the middle of the downtown waterfront area. plucked out of receivership for In announcing the project’s death knell, both 5$13.2 million – looks like a true sides were saying nice things about the other sweetheart deal now that the company is and the usual platitudes were flying, but there one of a scant few in the North American was a palatable undercurrent of rancour the industry to be turning a profit. doomed project has engendered in a history of The 2008 purchase of the waterfront manu- tire spinning. facturing facility in south Nanaimo also includ- Hard feelings would be natural, with the city ed 1,300 acres of land, some of which company believing it had done its part only to see one president Levi Sampson said could make sense corporate promise after another not materialize. to place onto the market. On the other side, Suro/Millenium was seeking “We do have options on the real estate front,” joint ventures until the final hour as it hoped to Sampson said, adding that the actual mill site recoup at least some of its losses. occupies about 258 acres. “If we have a plot of But the hammer fell on the corporation at land we could sell sometime down the road, we the end of March. “While Suro/Millenium definitely plan on taking a look at that.” expressed interest in continuing to work on Before any property decisions could be Nanaimo Tourism Photo: the project, the City of Nanaimo will not be Nanaimo: commercial real estate sales have strengthened but key downtown conference made, however, Sampson said in an interview granting an extension,” Ruttan announced. “We hotel has been cancelled, and there is a shortage of zoned land for new development. from China, where he was drumming up more are disappointed that the agreement is going to market action, Harmac needs to sort out its pro- taxes of around $3.6 million, but the company Both the city and company are in a position lapse and the hotel has not proceeded, but we tracted tax bill issues with the city and the BC is arguing in its appeal, still being reviewed, to benefit from an agreement. Not only does feel that over the long term this decision is in Assessment Authority. that a $3.6 million collection for an asset Harmac own a sizeable chunk of raw land in the the best interests of the city and taxpayers.” appraised just one year earlier at $13.2 million city, but Nanaimo still suffers from a shortage Ruttan said there are other companies inter- ¡*OUIFCMBDL¢ is more than a bit of a stretch. of properties with the right zoning needed for ested in proceeding with the venture and he The mill was owned by Pope & Talbot Inc., The city did reduce Harmac’s industrial industrial and/or commercial development. believed the improved economic climate will which employees say ran it into the ground taxes by 15 per cent for this year and the same Anyone thinking of developing an office improve the situation. Right now, the city has before closure. Now 230 employees and three again in 2011, before another 22 per cent reduc- complex in Nanaimo now has few options a beautiful, modern convention facility but equity partners including the Sampson family, tion kicks in for 2012. Nanaimo mayor John other than to purchase an existing business or only a fraction of the hotel rooms required for which amassed its fortune in western Canadian Ruttan said he believes that because his city suitably zoned land with a building then reno- the centre to draw enough delegates to pay the oil and gas ventures, own it. Harmac remains a is showing leadership on the tax issue, he is vate, or tear down and build from scratch, local centre’s costs. private company that is not required to release hopeful Harmac would agree to pay on time agents say. During the interview, Ruttan admitted the its financial records. that portion of its taxes not under dispute. city would like to recover some of its losses, “We’re in the black, that’s all I’ll say about The quarrel will be part of a provincial )PUFMDBODFMMFE too. He did utter the words “legal action” and that,” Sampson said. review expected to table recommendations this Ruttan, with just a few years under his belt “courts,” which he then quickly modified with Financial success can cause self-inflicted fall on the entire heavy industrial taxation mat- holding the number 1 political office of the city, “expensive.” victimization, though, and in this case the tax- ter between producers and the various coastal already had his hands full when interviewed. The last thing the city needed at this point, he man not only came calling, but did so with a municipalities with big mills. The city’s jewel development project – a down- said finally, was a protracted battle between the bullhorn. The industry took the matter to BC Supreme town highrise hotel with almost 200 rooms to lawyers and, with the case definitely up in the For 2009, the provincial assessment author- Court last year arguing that its tax require- complement the Vancouver Island Conference air about who would own ultimate responsibil- ity valued the mill and its ancillary holdings at ments were unfair in the new economic reality, Centre – had just gone bust. ity for the failure, damage control appears the close to $90 million. The city then demanded but basically got nowhere. The city estimated it has sunk about Please see Steady page A30 7BODPVWFS*TMBOE POWELL RIVER, BC VANCOUVER ISLAND Comox Valley Residential Commercial VANCOUVER ISLAND Mixed Use Building OPPORTUNITIES OCEAN VIEW MOTEL LIGHT INDUSTRIAL STRATA 1400 – 1500 sq ft. LAKE COWICHAN ASKING $1,670,000 Over 20' ceilings - 2 full storeys allowed. ♦ Great Location on Main Street Framing/ Passport Business, Parksville 2 units left @ $274,900 ♦ Fully renovated 2008 and 2009 s High profile location ♦ 13 residential suites 10-2bdrms / REVENUE PROPERTY Multi tenant health centre 1-1bdrm / 2-bach 3,000 sq.ft. strata. $329,900 REDUCED ♦ 7 commercial store fronts Multi Unit Development Sites, Parksville ♦ 38 unit mini storage secure and heated Existing Revenue While Holding 40 ACRES PRIME AGRICULTURAL LAND s $1,199,000 Central Courtenay. Adjacent to bypass. $675,000 ♦ All units separately metered / Resident $259,000 & $289,000 Downtown hotel next to marina and ferry manager terminal. 23 rooms, 150 seat restaurant, Ê Ê UÊÎ]nääÊõ°vÌ°ÊÀiÌ>ÉvwViÊë>ViÊ ♦ Room for more expansion Land Package: Lots, Revenue, Duplex, lounge with bar, 125 seat pub and separate Central Courtenay - $14/ sq.ft + 3NT. ♦ Extra 20,000 sq. ft. lot zoned C1 Qualicum Beach Purchase All or Part. banquet room. 3 levels, loads of storage, CENTRAL COMOX INVESTMENT PROPERTIES Bring your business ideas and make use of the store front or purchase just an investment s 0RICES 3TART AT $219,000 part basement and over 20,000 sq. ft. UÊ£°ÈÊ>VÊfÈx]äääÊÊUÊ°Ç£Ê>VÊfnxä]äää Call Don McLeod Rob Samsom AACI CCIM FRI Tim Parker 1-800-668-2272 Strategic Holding Development Site, PERSONAL REAL ESTATE CORPORATION 604-483-8044 Powell River Gerry Chaperon 250-748-4443 Qualicum Beach Multi-family and 1-888-829-7205 [email protected] Independently owned www.robsamsom.ca and operated DFH Real Estate Victoria Commercial Permit in Place. Over 1 Acre Don McLeod Personal Real Estate Corp. RE/MAX Ocean Pacific Realty Downtown. $1,250,000 Commercial Hotel/ Condominium, Qualicum Beach. $EVELOPMENT 3ITE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE 7 PLUS ACRES Existing Income in Place. Views of Ocean TURN KEY ESTABLISHED HOUSE/STRUCTURAL MOVING BUSINESS OCEAN VIEWS & Golf Course. $2,335,000 on beautiful Vancouver Island BC. Established for 40 years. Resort Revenue Properties, Rathtrevor 2 “Modern” unified hydraulic jacking systems. Beach Area. Flexible Personal Use & Rental. One system is 1 yr old. Opportunities. Priced From $251,300 All steel, dollies, 2 sets of steering dollies, blockings, Ian Lindsay & Frank Fairley: Zoned for seniors agrigate care with multi family [email protected] crane truck, towing truck, pickups & crummy. near by- many uses- hospitals, schools, medical facilities. Ideal Nanaimo location. First Realty $400,000.00. Seller may carry a first mortgage with good down. Owners will partially finance. Reason for selling is retirement. Asking $2,250,000.00 250 248.1071 1.888.243.1071 www.ianlindsay.ca RON POSTEY #21-826 West Island, Parksville - at Wembley Mall Each office is independently owned and operated ÓxäÇ{nÇÇxÈÊUÊÓxäÇ£äÇÇxxÊUÊÓxä{ÇÓÊ “Providing Professional Service Since 1980” VANCOUVER ISLAND 250 756-2112 0!2+36),,% s 15!,)#5- email [email protected] Sutton Group - West Coast Realty .!.//3% s "/73%2 An Independent Member Broker A30 Vancouver Island www.westerninvestor.com MAY 2010 WESTERN INVESTOR 45&"%:from A29 2VJDLGBDUT most attractive option. “Anyway, we really don’t know how much we could go after,” Ruttan said. “Suro- BRITISH COLUMBIA Millenium set up a kind of shell corporation for this project. How much that that actually Port Hardy has in assets is a question we’ve yet to have answered.” 19 Powell River Campbell River $PNNFSDJBMTBMFT Courtenay Vancouver Meanwhile, the Nanaimo commercial prop- VANCOUVER ISLAND erty market was characterized as “hot” by Jay NANAIMO ✪ Cousins of Re/Max, who deals exclusively 19 with commercial listings, “My spring has been exceptionally active,” he said. “We have all kinds of pent-up demand /BOBJNP #$ right now, with buyers waiting in the wings Population 84,000 to purchase revenue properties. There’s an Average detached house price $355,000 upswing in confidence, which wasn’t there 12 Major employers Government, service, months ago. This has created some real demand fishing, construction, tourism 8FTUFSO$BOBEBT1SFNJFS scenarios.” Earlier this year, Cousins sold a 19-unit plan to build retirement homes in the future. apartment block which was on the market for “The greatest number of sales we seem to 8IBMF8BUDIJOH$PNQBOZ just 12 days. “And right now I have an offer on be making right now are houses in the range a [asking price $2.395 million] 29-suite place,” between $250,000 and $300,000,” he said. s 6ANCOUVER )SLAND "RITISH #OLUMBIA he said. s )NTERNATIONAL REPUTATION Brian Lee of Re/Max said the residential "DDFTTGPSEJTBCMFE market is holding, with steady activity. The Nanaimo, like other B.C. cities, has adopted s &EDERALLY APPROVED PASSENGER VESSEL average price of a single-family home in universal building standards for new commer- Nanaimo in March, 2009, was $351,000, but cial structures and commercial renovations. s 7ATERFRONT PREMISES LEASE INCLUDES for the same month this year was $355,000. Therefore, builders should be prepared for GIFT SHOP OFl CE DOCK PERSONAL RESIDENCE Lee said he continued to receive calls regu- potentially significant development costs to larly from people in Alberta, Ontario and other transform structures into handicapped-access- NJMMJPO parts of Canada looking for lots on which they ible commercial space.◆ *%&&2%9 */.%3 #/-0!.9 PARKSVILLE 4EL DEVELOPMENT SITE JJLAWYER TELUSNET UÊ V>Ìi`ÊVÃiÊÌÊÌÜÊViÌÀi WWWJJONES LAWOFl CECOM UÊ*ÃÃLiÊÎÎÊÃÌÀ>Ì>ÊÕÌà UÊÊ>ÃÊ ÕÃiÊÊ«À«iÀÌÞÊÊ MEMBER 4HE .ETWORK ,AWYERS "USINESS 0ROPERTY .ETWORK BUY «ÀÛ`}ÊÀiÌ>ÊVi Your hunt for the right investment could UÊ"ÜiÀÃÊÌÛ>Ìi` be right in the pages of the Western UÊ7ÊÊ>ÌÊÌÀ>`ià Investor. Every month you’ll find UÊPrice $975,000 $2 Billion worth of opportunities. ;dg9ZiV^aZY>c[dgbVi^dc EaZVhZ8dciVXi/ IAIN MACDONELL (604) 328-3929 RE/MAX SELECT PROPERTIES WWW.MACDONELLS.COM 1-800-661-6988 VANCOUVER ISLAND COMMERCIAL www.nanaimoremaxcommercial.com Jay Cousins Frank Johnson www.nanaimoremaxcommercial.com 1-877-335-4380 Jay Cousins Realty [email protected] of Nanaimo [email protected] 1-877-423-0984 FOR SALE INVESTMENT OPPORTUNITIES INVESTMENT OPPORTUNITIES INVESTMENT OPPORTUNITIES – Approx. 2,100 sq. ft. 2 - Storey UÊ " Ê /9Ê +1,/ ,Ê 3,500 sq. ft. C-25 Commercial U Ê 6°Ê "**",/1 /9Ê qÊ *, -6 - .91 of an UÊÊ "1,/Ê ", , Ê - space on 3 levels. Complete renovations in 1992. prime building on a small lot in Central Nanaimo near the heart of the City. acre with over 240 feet of frontage on main Highway thoroughfare location, nicely updated property including 400 amp elec- through town. CS-2 tourist commercial zoning allows broad Fabulous exposure on Island Highway, terrific access & parking. trical-a wonderful character investment in a thriving com- munity. $429,000 range of accommodation & related services. Subdivision from $350,000 large 3.2 acre piece has received 3rd reading. Potential “Build to UÊÊÊÊ /Ê 1-/, Ê *,"* ,/9 – 6 acres zoned MU-1, U /, Ê "Ê- 5,600 sqft warehouse & offices. mixed use. Outside buildings include an 11,000 sq.ft. shop area UÊÊ 1- --]Ê 1 ÊEÊ – Nanaimo Fully reno- Steel building on 0.6 acre w/security fencing, 2 overhead Suit” for long term quality tenant $875,000 and a 1000 sq.ft. dry kiln. Services include well with ample water, vated & redesigned 35 seat restaurant with terrific reputation & doors, ample useable yard space & air conditioned offices. UÊ +1 /9Ê , 6 1 Ê *,"* ,/9Ê "7 /"7 Ê 200 amp electrical service, with a back up generator for 3-phase loyal clientele, excellent exposure & signage $525,000 For lease or for sale.SOLD , 1 Êf{Ç]äää "1,/ 9 Approx. 12,000 Sq. Ft. with 3 floors of office/ power, and a septic field. Also, a custom built timber frame home, U "7- ,Ê7"" 7", ÊqÊ20 years of success mark retail space. Upgrades include new heat pumps, new thermo approximately 2200 sq.ft. in size, with 5 bedrooms, 2 bathrooms, UÊÊ " , Ê, 6 1 Ê*,"* ,/9 single user build- this unique niche business manufacturing cedar lattice windows. Shows 9% CAP rate at current price $975,000 and a den. f£°ÓÊ ing with National Franchise tenant for over 15 yrs. Fully triple fence, arbours, gates, etc plus cedar survey stakes and IP UÊÊÊÊ -// Ê - °Ê Ê xÊ >VÀiÊ ÃÌiÊ âi`Ê £ÇÊ `iÛi«i`Ê lot line markers. Newly built shop, storage buildings and 2nd net lease shows over 7 1/2% CAP rate. $619,000 BUSINESSES with two 11,000 sq.ft buildings, and a small office building. floor 2 bedroom residence above fully operating assembly Large paved area, 600 amp, 600 volt, 3 phase power supply. UÊVan Isle Video – Parksville Franchise $69,900 UÊÊ£ÈÊ1 /Ê*,/ /Ê " – Port Alberni. Completely facility. Inventory purchased separately. $849,000 Currently operating as a sawmill, but is ideally suited for many Nearly UÊWine Kitz Franchise in North Nanaimo $69,900 rebuilt from ground up. New everything. 2 –Storey walk-up U 7/ ,," /Ê*,"* ,/9Ê" Ê Ê "7 Ê other uses. ÕÃÌÊ ,i`ÕVi`Ê ÌÊ f£°£xÊ ]Ê ÀÊ i>ÃiÊ vÀÊ 6 1/2 acres with 450 feet of walk on beach front zoned tourist UÊBusy Café w/ Patio – Qualicum $89,000 fÈ°ää«ÃvÊiÌ 14 – 1’s, 2 bachelor, now almost full. $81,000 per door will commercial. Current 4 bedroom home has had significant UÊThai Food Restaurant – Nanaimo $89,900 – Zoned I-1.2, five acres w/ large shop, UÊÊÊÊ 1-/, Ê Ê show 7% CAP shortly. Information portfolio available upgrades & buildings include workshop, storage shed & UÊÊSports Restaurant & Concessions - Nanaimo $99,900 office, home with 2 suites. Great visibility from the New Island aircraft hangar. Foreshore lease is a distinct possibility with an $1,295,000 Successful Tire Store -Parksville Highway at Parksville. Lots of room for more development. application. Terrific living/holding property. $2,495,000 UÊÊ Ê f]äää³ iÜÊÛiÌÀÞ 2000 sq. ft. of shop space available for lease. $875,000 UÊLucky Loonie Store – Parksville $99,900 UÊÊ1 Ê - ,6 Ê , with 30 year foreshore lease. U /7"Ê " /" Ê ,]Ê,6ÊEÊ/,1 Ê7-Êin Mid- – Zoned I-2. Three acre site near UÊTaco Del Mar Restaurant – Campbell River $119,000 U 1-/, Ê " * 8Ê 1,000 feet of moorage, fuel dock, mini-storage, conv. Store, Island area. Very successful, high visibility locations, Parksville. Improvements consist of a 3900 sq. ft. office, exceptional profit picture in excess of 10% of asking price. UÊBastion Janitorial Cleaning & Supply - Nanaimo $129,000 6000 sq. ft. shop area, and 3 covered areas. Part, or all, of government agency liquor store & commercial & residential Confidentiality agreementSOLD required on this share sale U Fitness Franchise for Women – Nanaimo $149,000 this site is available for lease. Potential income when fully tenants for added income. Next door foreshore lease (sub- business opportunity. $2,675,000 U Serious Coffee Franchise – Nanaimo $169,000 leased is approximately $100,000 per annum. Just reduced lease from Shell Oil) included. $1,595,000 U 1 Ê - ,6 Ê *,"1 Ê Ê ,6Ê *>ÀÃ]Ê -«>Ê UÊFull Service Heavy Duty Repair Business $179,000 to $1,190,000 EÊ ,iÃÀÌ]Ê -ÕÌ Ê >>É9iÜ«ÌÊ >Ài>°Ê -iÌ- UÊGood Old Book Exchange Business - Nanaimo $199,000 U "1,/Ê ", , Ê ÉÊ 69Ê 1-/, Ê <" Ê qÊ UÊÊ ting on Haslam Creek on 31 acres. Includes Par 3 golf ÓÊ 1 /Ê *,/ /Ê " Ê qÊ iÌÀ>Ê >> UÊ1µÕiÊ >ÀÊEÊ,iÃÌ>ÕÀ>ÌÊÊ ÜÌÜÊ >>Ê $219,000 <" Ê4ÊqÊ£°xxÊ>VÀiÃÊV>Ìi`ÊÊ >Õ} >Ê,`°ÊÊÌ iÊ ÕiÊ 12- two bedroom & 17 – one bedroom with den suites, approx. course, swimming pool, clubhouse convenience store Point Industrial Park. The 332 x 331 ft. lot has excellent exposure & more. 90 serviced sites plus tenting & group ar- UÊ7iÊ ÃÌ>Là i`Ê vviiÊ- «ÊEÊ >vjÊqÊ+Õ>VÕÊ $249,000 >`ÊvÀÌ>}iÊÊLÌ Ê >Õ} >Ê,`°Ê>`ÊÌ iÊ ÕiÊ*ÌÊÜÞ°Ê 23 years old, separatelySOLD metered with tenant paid electric heat, 2 eas. Additional 50% remaining for future development. UÊ`i«i`iÌÊÕÌÊ-iÀÛViÊ ÕÃiÃÃÊqÊ ÕV>Ê $275,000 1-/Ê, 1 Êf{Çx]äää storey walk-up, 4 year old roof, Info portfolio. $2,395,000 fÊÓ]ää]äää FRANK JOHNSON JAY COUSINS JAY COUSINS JAY COUSINS WESTERN INVESTOR MAY 2010 www.westerninvestor.com A31 FEATURE Small-biz owners say a blizzard of regulations could prove fatal when harmonized tax kicks in ple of how complicated these rules will be. That bulletin aims to convey the changes to business owners by walking them through 47 %FBUIBOEUBYFT pages that explain 128 examples. “Complicated enough for you?” GLEN KORSTROM Reppenhagen asked. WESTERN INVESTOR Kearney Funeral Home owner Tom Crean is an example of someone who could be affect- ritish Columbia small-business ed. owners who procrastinate or fail to He sells funeral services across provincial #prepare in May for the 12 per cent boundaries frequently. Until now, he has not harmonized sales tax (HST) in July risk a charged any provincial sales tax. host of negative consequences. He left it up to his out-of-province customers Nasty surprises include cash crunches or to deal with their home province’s tax authori- government penalties for doing things wrong, ties to determine what, if any, tax was owed. said certified general accountant Eileen In future, there’s a good chance that Crean Reppenhagen. will have to charge out-of-province customers “You can’t just switch July 1,” said the HST and hold the money in trust for the Reppenhagen, who created the tax tip website federal government, Reppenhagen said. Taxdetective.ca. She did not want to say that this will defi- “From May 1, you have to examine every nitely happen because the federal rules have transaction’s component parts. The HST starts yet to become law. July 1 for [inventory] delivered after that date. The likely change would arise because the Photo: Dominic Schaefer Dominic Photo: If you’ve invoiced for them or charged for them HST and PST are different animals. Tom Crean, owner of Kearney Funeral Home, will likely have to charge out-of-province ahead of that time, you have to assess the HST customers the HST when new federal regulations begin July 1. ahead of time.” $BTIDSVODI Reppenhagen’s biggest lesson for small- selves or loved ones years ahead of time. Doing so could prompt federal tax collectors B.C. businesses previously did not charge business owners is that the HST is complicat- Customers will be able to avoid the HST by to deem that the HST should have been paid, PST when selling to someone who lived ed – so complicated that Reppenhagen advises buying these services now. But tax officials she said. in Saskatchewan, for example, because entrepreneurs who do their own taxes to con- take a dim view of businesses that promote That’s news to Chris Benesch, who is the Saskatchewan tax officials had no jurisdiction sider hiring an accountant. buying now to avoid the HST, Reppenhagen government services committee chair at the to seek that tax from a B.C. business. said. Funeral Association of B.C. Once B.C. has the HST, federal tax officials *MMFHBM “There are at least a dozen funeral homes will have that authority. So, Reppenhagen said, Those who forsake this advice should be aware “It is illegal to advertise that I can think of that have put ads or signs out, B.C. small businesses are likely to have to start of the following elements of the new tax: sent letters or made phone calls to get people to charging sales tax to out-of-province custom- • it is illegal to advertise or advise customers or advise customers to buy now,” Benesch said. ers. Finally, she advises small-business owners to avoid the HST by buying a product before Advertising that urges buyers to “beat the to realize that the tax changes could create a July 1. Doing so, Reppenhagen said, will incite avoid the HST by buying HST” is also common in the new-home indus- cash crunch. the wrath of Canada Revenue Agency tax try, where some builders have made tax avoid- Clothing retailers, for example, don’t cur- officials; a product before July 1” ance the cornerstone of marketing this spring. rently pay PST on inventory. Instead, they • so-called place-of-supply rules are likely Home renovators are also urging clients to have give their PST exemption number to suppliers. to change. These regulations determine what “It’s the same thing with tickets or fees for work done early. Retailers then collect PST from customers and province’s tax rate applies when products or a sports team. If you’re a soccer dad, and your pass that tax to Victoria. services are sold across provincial boundaries; team normally sells tickets or collects money in 0VUPGQSPWJODF Once the HST is law, clothing retailers will and July for the season of September to March, you With regard to so-called “place of supply” rules have to pay HST on inventory. They will then • businesses are likely to need more capital can’t all of a sudden switch your collection date – which determine what tax a B.C. business charge customers the HST and pass the differ- up front to finance an operating line of credit. to April and say, ‘We’re collecting early this pays if it sells a product or service to a customer ence to Ottawa, Reppenhagen said. Funeral services and caskets are an example year to get around the HST,’” Reppenhagen who lives in another province – Reppenhagen “That’s cash flow being pinched,” she of a product that many people buy for them- said. pointed to Ottawa’s bulletin #B103 as an exam- said.◆ 7BODPVWFS*TMBOE Investment s NET #AP SQ FT OFlCE "LDG YR "# 'OV ,EASE $1,260,000 s NET CAP SQ FT )ND 7AREHOUSE &ULLY LEASED TENANTS $679,000 s NET CAP POTENTIAL SQ FT RETAIL "LDG YR NATIONAL TENANT $465,000 s SQ FT RETAIL OFlCE BLDG DOWNTOWN .ANAIMO POTENTIAL NET CAP $899,000 s SQ FT RETAIL OFlCE BLDG DOWNTOWN .ANAIMO -ANY UPGRADES $1,295,000 Development Lands s ACRES #ITY LIMITS ZONED -( PARK 2ES -F $3,984,000 s !C -F SITE UNITS APPROVED .ANAIMO $2,850,000 s !C -&2ETAIL STORY $EV SITE FRONTING 3TS DOWNTOWN .ANAIMO SOME CURRENT INCOME $675,000 s !C -( -F ZONED SITE $898,000 s !C 2V PARK 2ES ZONED ACTIVE SITES TITLES $1,895,000 LLOYD LOEPPKY 2OYAL ,E0AGE .ANAIMO LLOYD NANAIMOFORSALECOM 1 800 377 4374 A32 Vancouver Island www.westerninvestor.com MAY 2010 WESTERN INVESTOR West Coast Vancouver Island Fishing Resort - Bamfield Oceanfront main house and four cottages, Business Is Better Offshore Grady White guide boat. Great cash fl ow and a steady repeat client base. $775,000 On Vancouver Island Commercial Lot and Sales Offi ce - Nanaimo For Sale Currently a used car lot, level, paved, RICHARD MARC fenced,signage, sales building all on the Island GOLDNEY LACOUVEE 519 Acre Parcel of Oceanfront Property - Campbell River $7,500,000 Preliminary approval for 18 lot subdivision. Highway close to the Airport and Duke Point 1-800-668-3622 Multi-Family Development Site - Parksville $5,100,000 Ferry Terminal. Great location for any type of 250-752-2466 250-228-3428 6.53 acre site with development permits in place. outside sales. $325,000 www.RGoldney.com www.MarcLaCouvee.com Renovated Hotel with 70+ Rooms - Campbell River $2,295,000 [email protected] [email protected] New Office and Commercial Building - Central Nanaimo $ 321,000 PETER GALLACHER RE/MAX ANCHOR REALTY 113 2 Ave W Box 1890 Spaces available in new commercial/office building on Terminal Avenue. to $2,259,000 1UALICUM "EACH "# s 6+ 4 Investment - Fully Leased Commercial Strata Unit $2,050,000 1-800-779-4966 7,417 sq ft strata unit with National Tenant in Brentwood Bay. PARKSVILLE 4.5 Acres bordering Inland Heavy Industrial Opportunity - Duke Point $1,995,000 NANAIMO [email protected] Island Hwy. Easy access to Parksville. 5 acres of level fenced property zoned I-4. Property surrounded by commercial lots. Light Industrial Opportunity - Duke Point $1,975,000 LIQUOR STORE, HERITAGE HOTEL O.C.P. recommends change to commercial New 10,000 sq ft building on 1.83 acres of I-2 zoned land. zoning. $525,000 Light Industrial Warehouse - Central Nanaimo $1,875,000 AND COMMERCIAL TENANTS- 15,200 sq ft building on 1.27 acres. Ocean View Development Property - Nanaimo $1,875,000 MID ISLAND QUALICUM BEACH COMMERCIAL C2 9.49 acres RM-5 and RS-1 Zoned. 2 commercial lots 275 ft. frontage. Water & 254 Acre Land Parcel - Sproat Lake $1,795,000 BE A sewer. Across from miles of sandy beach. Excellent view scapes and development potential. 1100 sq.ft. rancher. $475,000 6 Acre Development Property - Parksville $1,675,000 Strategically located among established resort developments. BIG FISH PORT ALICE - Gateway to the Pacific Heavy Industrial Property - Duke Point $1,345,000 IN A SMALL POND! Ocean Camp Ground, Restaurant, plus pay New 6,900 sq ft building on 0.91 acre of I-4 zoned land. Lakefront Irish Themed Pub - Lake Cowichan $ 995,000 Dominant market position laundry facilities and pay showers. 5 Lots all commercial on water and sewer. 22 fully Offer included business, land and buildings including boat dock. ensures continued success. serviced sites plus 15 camp sites. $625,000 Retail Business & Demolition Contractor $ 975,000 New and used building materials in Central Island location. Asking: $4,100,000 Nanaimo Residential Development Property $ 975,000 ERRINGTON 2.5 Acres of property in a well 4.88 acres near the Nanaimo Parkway. David Turner (250) 661-6900. established 4 pad mobile home mini-park. Multi-Family Development Site $ 769,000 Own your own ps park like setting that creates 33,261 sq ft RM-5 zoned lot in North Nanaimo. Coldwell Banker Commercial income. $239,900 Commercial Property - Alberni Highway $ 590,000 FIRST VICTORIA REALTY 1.11 acres with exceptional highway frontage. QUALICUM BAY Change your life, try this Downtown Commercial Land and Building - Nanaimo $ 475,000 excellent business opportunity. Own your 7,391 sq ft lot with 66 ft frontage onto Terminal Avenue with 2 storey building. own sawmill, Central Island Wood products. Commercial Zoned Land and Building - Port Alberni $ 289,000 Custom milling from decking to fencing. 10,956 sq ft lot with 132 ft road frontage and 3,526 sq ft building. $110,000 Commercial Strata Units - Qualicum Beach $ 190,000 Spaces available from 1,000 sq ft - 3,000 sq ft. to $ 550,000 VIVO - Downtown Nanaimo Commercial Units $ 149,000 QUALICUM BEACH Garden Centre and Spaces available from 386 sq ft - 764 sq ft. to $ 279,000 3,300 sq.ft. home on 2.87 acres in heart of Qualicum town. $1,776,000 Featured Listings COOMBS - Prancing Pony Gifts: two Investment Opportunity- Condominium Development storefronts in the side portion of World 12 unit condominium development on Rutherford Road in Nanaimo famous "Goats-On-The-Roof" Coombs Offered at $2,700,000 Market. Unique products and crafts from local and world artists. $85,000 Waterfront Restaurant, Land & Building COURT ORDERED SALE - Maple Bay UCLUELET 2 acres Fishing unloading and ice Building includes self-contained 1,604 sq ft suite. plant. 500 lineal feet waterfront plus foreshore Offered at $729,000 rights $959,000 Pub & Restaurant, Land & Building COURT ORDERED SALE - Gold River Includes 3.69 acres of land, 5,400 sq ft building, two liquor licenses, and one-bedroom self-contained suite. ED HANDJA Offered at $595,000 www.bcoceanfront.com Phone: 1-800-563-7322 UÊ i\ 250-287-0011 Investment Property Commercial Investment Property $ 1,175,000 18,000 sq ft site on Bowen Road with 10,600 sq ft tenanted building. Parksville - Redevelopment Property 1.17 Acres CM-2 Zoned $ 981,000 Downtown Commercial Building - Ladysmith $ 950,000 12,285 sq ft tenanted commercial/warehouse building on .33 acre. 1.2 Acres C-12 Zoned on Nanaimo Parkway $ 795,000 Nanaimo - Downtown Lot C-13 Zoned on Nicol Street $ 350,000 Nanaimo - Downtown Lot C-17 Zoned on Albert Street $ 179,000 ALERT BAY, OCEANVIEW CABINS ONE STOP CONVENIENCE, CAMPBELL RIVER The only going concern of its kind! Well Well established rural residential convenience maintained resort style accommodations with store with an attached 2-bedroom 1185sqft Business Opportunities Government clientele & EXCELLENT REVENUE! suite, private backyard & storage sheds as RECREATIONAL BOAT MAINTENANCE BUSINESS— French Creek $ 125,000 12 nicely renovated ocean view cabins, from well as a well stocked store-front 1365sqft HIGH END RESTAURANT—Campbell River $ 169,000 300–640sqft each, & separate managers’ offering assorted amenities from toiletries & AUTHENTIC JAPANESE SUSHI RESTAURANT—Nanaimo $ 170,000 accommodation minutes from the amenities of basic supplies to movie rentals & lottery sales. CUSTOM WOODWORKING BUSINESS—Victoria $ 174,000 town, incredible fi shing, spectacular scenery, An excellent rental or live & work from home. SEWING MACHINE & FABRIC RETAILER—Nanaimo $ 195,000 breathtaking marine wildlife & unlimited Suite currently rented. Be your own boss! ESTABLISHED PLUMBING & HEATING BUSINESS—Nanaimo $ 250,000 adventure. $750,000 $349,900 MOTOR SPORTS RETAILER—Nanaimo $ 295,000 ENGINE MACHINING & PARTS BUSINESS—Nanaimo $ 395,000 ESTABLISHED PLUMBING & HEATING BUSINESS—Nanaimo $ 650,000 On 7,560 sq ft lot with 1,300 sq ft building SPECIALITY MACHINE SHOP—Central Vancouver Island $ 900,000 ENGINE MACHINING & PARTS BUSINESS—Nanaimo $ 950,000 With Strata Titled land and building SPECIALITY MACHINE SHOP—Central Vancouver Island $1,700,000 On 16,988 sq ft lot with 150 ft road frontage and 6,528 sq ft building FRANCHISED MOVING & STORAGE CO. with 20% ROI $2,550,000 QUADRA ISLAND RESORT ISLAND HWY, CAMPBELL RIVER PUB & LIQUOR STORE—Central Vancouver Island $3,600,000 Spectacular commercially zoned 8-acre 20,455sqft Commercial / Light Industrial CEDAR SHAKE/SHINGLE MANUFACTURER - www.bcfshake.com $3,900,000 oceanfront property with 390ft of low-bank facility on 2.4 level acres in a location with Land, Buildings, Foreshore Leases and Equipment, Inventory extra easy access frontage, SW exposure & excellent exposure, good vehicular traffi c & FRANCHISED HOTEL—Duncan $7,400,000 incredible marine views, previously operated direct highway access. Shop & offi ces are Includes pub and conference facilities and unused liquor store license as the Quadra Resort. Improvements include easy to partition off to accommodate smaller Gerry Van Vaals Personal Real Estate Corporation a main residence, 3 duplex cottages, large lease spaces. Offi ces Warehouse 5 Bay Shop DTZ Barnicke Nanaimo Ltd. [email protected] Quonset shop & substantial private moorage Electrical & Lunch Room 600Volt 3-phase facilities. An ideal resort development electrical 2x10Ton Overhead Cranes. opportunity. $1,245,000 $8./sq.ft plus TN Tel: 1 800 769 5757 www.dtznanaimo.com WESTERN INVESTOR MAY 2010 www.westerninvestor.com Vancouver Island A33 %0/&%&"-4 Our readers report on recent commercial real estate deals across Western Canada one Deals is our monthly feature • Deal: 72-unit concrete apartment building, • Deal: 3.9-acre commercial site at 144 highlighting some of the major Vancouver’s West End, built in 1964. Sold Avenue and Manning Drive, Edmonton. %real estate transactions completed with multiple backup offers. Price: $8 mil- Sold for vendor Servus Credit Union Ltd. recently in Western Canada’s vibrant com- lion. to buyer Kingsway Legion No. 175. Price mercial real estate market. $3.04 million. From: NAI Commercial, Vancouver. NAI • Deal: 1.3-acre commercial site at 137 From: Colliers International, Vancouver. agents Terry Harding and Jackson Tang Avenue and 50th Street, Edmonton. Sold for Colliers executive vice-president Avtar sold the following: vendor Amcan Investments Ltd. to buyer Bains and associate vice-president Deepek • Deal: 48-unit apartment building, Austin 1425794 Alberta Ltd. Price: $1.2 million. Dhawan sold the following: Avenue, Coquitlam. Sold for vendor • Deal: 62,094-square-foot retail centre, Smallwood/Vine to buyer Robert Lee Ltd. From: DTZ Barnicke Nanaimo Ltd., International Colliers Photo: fully leased and anchored by Home Depot, Price: $5.17 million. Nanaimo. DTZ Barnicke agent Gerry Van This 62,094-square-foot fully leased Sweden Way, Richmond. Sold for vendors • Deal: 36-unit apartment building, Gilmore Vaals sold the following: retail centre, Sweden Way, Richmond, Great West Life Assurance Company Inc. Avenue, Burnaby. Sold for vendor 438336 • Deal: 9.17-acre residential site, Nanaimo, sold for $21 million. and London Life Insurance Company to B.C. Ltd. to buyer Richland Ent. Price: $4.4 planned for 132-suite congregate retirement buyer Dayhu Investments Ltd. Price: $21 million. residence. Sold to an undisclosed buyer. From: Colliers International, Fort million. Price: $2.43 million. McMurray. Alberta. Colliers agent Ken From: Re/Max Colonial Pacific, Surrey, • Deal: 3.42 acres of development property, Shebib leased the following: From: Legacy Real Estate Service, Calgary. B.C. Re/Max agent Dean Bauman sold the Nanaimo, with 5,000-square-foot commercial • Deal: 9,321-square-foot office building, Kevin Moore of Legacy reports the follow- following: building. Price: $2.2 million. Fort McMurray. Leased to Graham Group ing sale: • Deal: 5.2-acre townhouse site, King George Ltd. two years. Price: $24 per square foot. • Deal:156-acres of raw land on 84th Street, Highway, Surrey. Price $4.2 million. From: Realty Executives Commercial, • Deal: 3,890-square-foot industrial bay. East Calgary. Sold by an undisclosed buyer to • Deal: 3.9-acre townhouse site, 61st Avenue, Edmonton. Realty Executives agent Mike Leased to Phoenix Industrial for three the City of Calgary. Price: $26.5 million. Surrey. Price: $7.18 million. Eurchuk sold the following. years. Price $30 per square foot. • Deal: 5,800-square-foot office/warehouse on From Macdonald Commercial, Vancouver. From: Gaetz Realty Inc., Edmonton. Owner/ 0.46 acres, fenced. Sold for vendor 1076965 Recently completed a deal? Macdonald Agents Mark and David broker Bob Gaetz reports the following Alberta Ltd. to buyer 989369 Alberta Ltd. For a free report here, send details to Goodman report the following sale: sales: Price: $775,000 [email protected] 7BODPVWFS*TMBOE COMOX VALLEY, /LAN=PA9KQN/SJ"QOEJAOO Campbell River EHFRPHD3URIHVVLRQDO'HEW&RQVXOWDQWEHFRPHD3URIHVVLRQDO'HEW&RQVXOWDQW VANCOUVER ISLAND ICI: UÊ««ÀÝ°ÊӣʣÉÓÊ>VÀiÃÊÊÌÜÊÀi>`ÞÊ 1.9 Acres Industrial ZLWK3LOODUV&RQVXOWLQJ*URXS ÌÊLiÊ`iÛi«i`°ÊÊÃiÀÛViÃÊ>Û>°Ê 5 minutes to Hwy 19, 5 minutes to downtown >`ÊÞÊ£ÉÓÊLVÊÌÊ}vÊVÕÀÃi° Courtenay. Light industrial zoned. Currently (DUQH[FHOOHQWLQFRPHSURYLGLQJDYDOXDEOH(DUQH[FHOOHQWLQFRPHSURYLGLQJDYDOXDEOH $2,150,000 earning a 6.1% cap rate. From 4 tenants. Zoning VHUYLFHWRSHRSOHLQILQDQFLDOFULVLV allows for Mini-Storage. Great potential. UÊnÊÕÌÊViÀV>ÊÃÌÀ>Ì>Ê`ÜÌÜÊ Piped water to lot, currently on well & septic. x %RRPLQJLQGXVWU\x:HZRUN21/<IRUWKHGHEWRUx+HOSSHRSOHDYRLGEDQNUXSWF\ Ê>««ÀݰʣǣääÊõ°vÌ°ÊVÀiÀÊÌ°Ê Asking $430,000 x 1HJRWLDWHVHWWOHPHQWVWKDWKHOS\RXUFOLHQWHOLPLQDWHXSWRRIWKHLUGHEW Õ`}ÊÃÊ>««ÀÝ°ÊääÊõ°vÌ°ÊÊ 2 Shuttle Licenses ,19(670(175(48,5(' ÌÃÊvÊiÝÌÀ>ðÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ$1,350,000ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Unreserved airport, hotel/resort, home, door to /RFDWLRQV 3RUW$OEHUQL7RILQR3DUNVYLOOH4XDOLFXP&RPR[9DOO\SH\&DPSEHOO5LYHU1RUWK,VODQG door pick-up and drop-off. Service to: Nanaimo, Port Alberni, Campbell River, Comox Valley & #=HH#KNJAHH FRUQHOOS#SLOODUVFD BOB CLARKE Mt Washington. Coast Realty Group Website: www.ambassadorshuttleservice.ca www.4pillarsfranchise.ca/dc/ £Ó££Ê Þ«ÀiÃÃ]Ê >«LiÊ,ÛiÀÊÊ ° °Ê67ÊÓ<ÎÊ Asking $150,000 £nääxÈÎÇÎÓÓÊU [email protected] Top Producing Restaurant: 46,000+ meals/year!!! This location sells more seafood per year than any restaurant on Vancouver Island. 16 years proven track record. Just spent marketing $80,000+ on upgrades..turnkey operation. Asking: $339,000 Pay off in 3 years ) ) ")*) )#) ) Industrial Building, downtown Courtenay your ! 8)) !' ' ! '/' ! (' !& '&! ('! !' )))-/37%) Award winning renovation on this 6900 s.f. ' ' ('& '%! ' '!''0' !(' !!& *' ',.13#' Building with 1500s.f. showroom, the rest ) ) # )0)# ") ##") ' #)8)) '6'! ') ' ))))) +) warehouse space. Dock loading…2 minutes to '/' !*' !' *'! '' '%%*) ',025#' downtown. Seller will rent back for $4500/mo franchise? ) ) & ) ") #) 8)) ' $ '& ' )))-1/.%) NNN Asking $695,000 ',4--#' !''% *'!& '.752*''"! ' ! ' Call Christine at the ) ) # #8))% + !!!*' !' ! ' !*' ) )))-253%) ROB PHILLIPS ! ' $ !''& ! !+ '/'! *' ' ! ' ',733#' ' ) Toll free: 1-800-715-3999 " ) )0) #) ' #8)) !'*' ))))) +) Cell: 250-897-8508 ' ('!('%% ! '/' ! '%! *'!& '!*) ',0*1' Email: [email protected] 1-800-661-6988 (604) 608-5110 ##') )*)13.+53/+57/5) "") )*)/+655+167+.747) www.robphillips.ca [email protected] $ !)' )")#)!!!+ ( " ! +', # "#) Vancouver Island LAND PACKAGES LANGFORD / WESTERN COMMUNITIES SHAWNIGAN LAKE / MALAHAT 7.5 + Acres of Langford Development Land Raw land in 2 Parcels of 2.64 & 3.46 Acres at Shawnigan Neighbourhood Institutional (P1A zoning) Lake just waiting for someone to carve out their slice Possible uses are: School, Church, Daycare, Community of paradise. Located near the Old Mill Regional Park Assembly, Care Facility, Assisted Living & Residential. off of East Shawnigan Lake Road. Zoned Rural Currently has 3 Existing Buildings with Income and is Residential R2 / Area B. adjacent to new Westhills Development. $2,290,000 $399,900 & $438,800 JACK DAVIS Call Toll-free:1-866-598-3571 DAVIS REALTY CORPORATION 3306 Henderson Road Victoria BC V8P 5A7 A34 Vancouver Island www.westerninvestor.com MAY 2010 WESTERN INVESTOR JUDY GRAY, CCIM Comox Valley 1.800.600.1718 Vancouver Island: Suite 103–1801 Bay Street, RETAIL LIQUOR STORE PO Box 195, Ucluelet. BC. Opportunity to purchase prime MID-ISLAND REALTY Canada V0R 3A0 Great investment opportunity, RESTAURANT premise in VICTORIA's showing steady annual growth. premiere new hotel/resort property, Former Fish Plant w/Foreshore Lease Asking: $1,449,000 located in high traffic area within walking distance to Inner Harbour, tourist attraction & Beacon Hill Park. Restaurant: approx. 4,381 sq. ft., shell - $1,989,000 CONTACT: Errol Flynn: 250-897-2222 SYLVIA THERRIEN Personal Real Estate Corp Rob Phillips: 250-897-8508 Tel: 250.388.5882 $550,000 Toll free: 1-800-715-3999 www.sylviatherrien.ca (upland and adjacent prop. also avail.) 1.58 acre Semi-Waterfront Vancouver Island Development Site NEW PRICE! Equestrian Farm Estate: One of a kind well regarded world class Thoroughbred property considered one of the finest producing farms in North America! Situated in North Saanich this pastoral 12 ac estate with 33,000 sq’of buildings & facilities built to highest of standards. This unparalleled Equestrian Estate offered @ $4,400,000 Open to proposals! www.orangeblossomfarm.ca Also available 20 adjoining acs @ $2,000,000 $985,000 Lot 1 Marine Drive Saanich Peninsula Oceanfront: Arts & Crafts 2300 sq’ cottage set in easy care property w/ Parksville west exposure...... $1,595,000 Retail, Marine Railways & Docks Motel Saanich Peninsula Oceanfront: 50’s bungalow set in low bank property w/walk on beach. Updating required...... $1,050,000 This 24 unit Motel is located in a highly visible area in the heart of Victoria Penthouse: 2 level condominium w/unobstructed Victoria Harbour & city views! This Parksville. Growing revenues & open plan home has 3 bedrms & bathrms, 2 decks, 2 fireplaces, 6 appliances, 2 parking spaces. stabilized expenses make this a Across from park & Fisherman’s wharf...... $799,000 solid investment. The spacious Manager’s accommodation is ideal for a family run operation. $1,200,000 Owner’s quarters above Room configurations & rates are 18.32 Acre Campground available. $1,375,000 Deep Cove Oceanfront: Charming modern Ten Mile Point Oceanfront: An impressive Aaron Nicklen & Ian Mackay West Coast home set in a private landscaped modern Mediterranean style 8500 sq’ 3 level www.aaronnicklen.com garden w/expansive west views & sunsets. home w/expansive marine views. .$4,795,000 ...... $2,399,000 1.888.954.4433 Peter Nash | 250.384.0566 direct 877.388.5882 $1,997,000 52 sites + 3 group + 10 overflow [email protected] www.peternash.com Victoria www.judygray.com 39 bucks could make you millions ... Western Investor readers tell us: ■"I am looking for a business and I read it cover to cover. It keeps me up to date on what's for sale and I also pick up some tips Subscribe in every issue. Keep up the good work." SUBSCRIPTION Name ■"The Western Investor is the best RATES Title commercial real estate paper out there." ❏ One Year ...... $39 Company ■"We purchase the paper every month and ❏ Two years ...... $69 haven't found the right thing yet, but your paper is an asset to us in our search." ❏ Three years ...... $99 Address City Prov Postal code ■"I think you have a fantastic news and information paper. Keep it up." Bill my: ❏ Visa ❏ American Express Phone Fax E-mail ❏ MasterCard ■"I like the cross-section of information in ❏ Credit Card No. Expiry Signature BACK TO 604-669-2154 FAX the paper. it informs (me) about all loca- Cheque enclosed GST Registration No. 10565567 GST Included tions. I like to see vacancy rates and the cap rates on industrial property. I like to read the legal consequences articles. [email protected] I have been a reader for 15 years." 604-669-8500 ■"It’s easy to go through. It is straightfor- ward." 1-800-661-6988 COMMERCIAL REAL ESTATE, FRANCHISES AND BUSINESS OPPORTUNITIES WESTERN INVESTOR MAY 2010 www.westerninvestor.com Vancouver Island A35 8)"5¤4)"11&/*/(*/ For some builders and renovators the big fear is the underground economy. The HST will add 7 per cent to the cost of labour, )PUFMTUIFXJMEDBSEJO #SJUJTI$PMVNCJB which had previously been free of the provin- cial sales tax, “I have clients already asking me to work on cash-only deals to avoid tax. EPXOUPXODBTJOPQMBZ HST has home There will be a lot more when the HST comes he B.C. government has announced in,” said Vancouver renovator Ralph Belisle. Tthat Paragon Development Inc. has signed a 70-year lease agreement with builders spooked the B.C. Pavilion Corporation (PavCo) ’s pending harmonized sales tax (HST) Industrial land to develop a giant hotel/casino enter- BChas home builders spooked, with tainment complex attached to BC Place some cancelling projects and others working stadium in downtown Vancouver. But to complete sales before the tax kicks in. rules queried some say the hotels could be a gamble. When one breaks down the HST, which o extra regulations and intelligent Subject to municipal approval, the comes in July 1, and compares it to the cur- Nindustrial zoning – that’s the call by $450 million complex will feature two rent PST/GST, the bottom line extra cost for developers, brokers and consultants in hotels and a casino with up to 1,500 slot Photo: B.C. Pavilion Corporation Pavilion B.C. Photo: a typical new-home buyer works out to about response to Metro Vancouver’s new regional machines and 150 tables. Some Vancouver Rendering of proposed $450 million 3 per cent to 4 per cent added to the cost, growth strategy. real estate analysts, however, say the casino and hotel complex beside B.C. Place, according to the Greater Vancouver Home The most recent meeting of commercial real hotels may prove a gamble. Vancouver. Builders’ Association (GVHBA). estate and development association NAIOP According to a government news release, But that is not what consumers will see, showcased some of the views. Vancouver nearby Edgewater Casino – which has 493 slot machines and 65 tables – will close once the the builders noted. Coun. Suzanne Anton was given a few new complex is ready for occupation. On an $800,000 new house (average price moments at the start of the March 18 meeting Paragon won the right to develop that complex following a “competitive bidding process outside of Metro Vancouver) the HST will total to assure NAIOP members that moves by Metro that attracted multiple proposals,” according to a government release. about $70,000 (after a flat $26,250 rebate) Vancouver to assign specific uses to industrial The project, when approved by Vancouver council, is expected to create 3,200 jobs during This is enough, builders say, to stop some land concerned her. construction and about 2,000 jobs once complete. The government estimates it will generate people from buying, perhaps a lot of people. Ron Emerson, one of three panellists at $130 million in annual gaming revenues. “All consumers are going to look at it is the the meeting discussing development issues, Pending the rezoning application, construction is planned to begin early next year and bottom line,” one veteran builder said. “It will took up the thread later, urging planners to be complete in mid-2013. Rezoning is not expected to be a hurdle, since the land belongs be difficult to explain how the former PST was recognize that the economics of industrial to the province. buried in the price.” land in the Lower Mainland limit the returns The development is expected to help pay for the $458 million contract to replace the aging One Squamish townhouse builder, who possible to owners. This in turn places poten- roof on B.C. Place stadium with a retractable model. was planning to build 28 units, has stopped tial development sites at risk. The hotel component may be a challenge, however. PKF Consulting forecasts that the project because of the HST. “He figured He said that planners need to ensure sites Vancouver hotels will see 67 per cent average occupancies this year, down from 74 per cent out that the government would make more are available for industrial development. three years ago and up only marginally from the recession of 2009. Revenue per room for profit than he would,” said Peter Simpson, “We’ve got to have the land that’s properly Vancouver hotels is also at three-year lows. executive director of the GVHBA. On a new located for industry available to industry.” Some realtors say building two new hotels in downtown Vancouver is simply not viable $700,000 townhouse, the builder figured, he But the majority opinion rejects the idea of in today’s market. would make about $20,000 profit. The HST on an industrial land reserve or any additional each unit would be approximately $57,000. levels of bureaucracy. In the fourth quarter of last year, total There are other concerns for suppliers. While further regulation would be a boon Asian immigrants net migration to B.C. was 16,955, up from Chief worry is that a lot of PST and HST- for consultants such as Gary Pooni, president 15,543 in the third quarter. The vast majority free building materials will be arriving in B.C. of Brook + Associates Inc., Pooni said he flooding into B.C. of immigrants are from China and Southeast from both Alberta and the U.S.A. One custom would rather spend his time on more con- Asia, and more than 90 per cent settle in the builder priced out a high-end hardware pack- structive aspects of development projects. is leading all provinces in popula- Lower Mainland. Victoria, second place for age for a new house, after the HST, and found “It’s not the right thing to do,” he said. “I’d BC tion growth, with a net gain of immigrants, attracts just 4 per cent of the she could save 50 per cent of the $20,000 rather find a way to make good development 72,209 residents in the year ended January annual influx. price by buying in Washington state, even projects happen, not manufacture more red 2010, according to Statistics Canada, and Net immigration (seasonally adjusted) after all duties were paid. Others expect to see tape and restrictions so that good projects do the bulk of the newcomers are immigrants. increased to 14,364 in the fourth quarter everything from lumber to appliances being not happen. That doesn’t help create positive B.C.’s population is now 4.49 million and is 2009, up from 12,978 from the third quar- shipped in from Alberta (though the B.C. gov- change in any neighbourhood.” expanding at a rate of 1.6 per cent annu- ter. People moving in from other provinces ernment is said to be plugging this loophole). – Peter Mitham/BIV ally, StatsCan reports. accounted for only 2,722 people.◆ Vancouver Island OPPORTUNITIES Strata-titled Apartment Building ASKING PRICE $1,850,000 FOR SALE Semi-Watefront Condo Site Campbell River COMOX VALLEY Prime for development of 70 Luxury Suites, Adjoining waterfront walkway. Designs already approved. Close to all amenities; parks, green space reserves, shopping. REDUCED Did I mention the WATERFRONT!!! Dale McCartney 1-800-638-4226 Ray Pellerin 1-800-377-4374 Lifestyle Investment Port Alberni B& B $985,000 23 individually titled strata condos www.bbforsale.ca in quality, freshened building. The ASKING PRICE $ $699,000 Prime riverfront location, fl exibility of this structure is hard spectacular curb appeal to beat. As your needs dictate, you Heritage B & B NANAIMO s Superb exposure to high could re-sell one unit at a time or Ocean & Mountain Views, beautifully restored, Pacific Rim tourist traffic 3 bedrooms & owners quarters. all units at once -- it’s up to you. 16 s 4 Luxury guest suites 2-beds; 7 studios. Units reno’d with SERIOUS COFFEE FRANCHISE s Separate open concept new bathrooms, kitchen appliances Popular V.I. specialty coffee franchise. T.I. included. Like new condition executive residence & more. Campbell River has everything Ideal semi-retirement opportunity s Fishing charter business going for it - a diversifi ed economy, ASKING $199,000 $129,000 negotiable, 26 ft Bayliner, all the big box stores and real growth Call RAY PELLERIN truck & trailer momentum. Price is a signifi cant 250-756-1132 or discount over individual market value. HUMMINGBIRD GUESTHOUSE & CHARTERS 5769 River Road, Port Alberni, BC Toll Free: 1-800-377-4374 $1,685,000. Email for profi le. www.raypellerin.com Cheryl & Wayne Creelman RAY PELLERIN 250-720-2111 s 1-888-720-2114 Owner NANAIMO REALTY WWWHUMMINGBIRDGUESTHOUSECOM s % MAIL #HERYL HUMMINGBIRDGUESTHOUSECOM [email protected] A36 www.westerninvestor.com MAY 2010 WESTERN INVESTOR RE/MAX TREELAND REALTY RE/MAX LITTLE OAK REALTY RE/MAX BOB PLOWRIGHT REALTY RE/MAX SABRE #101 6337 - 198 Street, 2630 Bourquin Crescent West, 7300 Vedder Road, Suite 1, REALTY GROUP Langley, B.C. V2Y 2E3 Suite 9, Abbotsford, B.C. V2S 5N7 Chilliwack, B.C. V2R 4G6 102-2748 Lougheed Hwy., Tel: (604) 533-3491 Tel: (604) 859-2341 Tel: (604) 858-7179 Port Coquitlam, B.C. Fax: (604) 533-0202 Fax: (604) 850-2325 Fax: (604) 858-7197 Tel: (604) 942-0606 COMMERCIAL Toll Free at 1-888-707-3577 Toll Free at 1-800-668-8661 Toll Free at 1-800-830-7175 Fax: (604) 942-9533 DEVELOPMENT LAND PROFESSIONAL ANALYSIS OF FOR SALE OR LEASE IN CHILLIWACK PITT MEADOWS 47 UNIT CONDO SITE YOUR PROPERTY OR BUSINESS Plans for 5 level mixed use building at 124 Ave & Harris Rd. LEASE OR INVESTMENT PROPERTY/OUTSTANDING EXPOSURE Enivro, Geotech, & Architectural included –fees already paid IF YOU NEED TO SELL $1,550,000 Call or email David! xLocated on busy main route xAcross from new FV Regional *R.V camp ground close to Hope, xLots of on site parking Offices and City Fire Department INDUSTRIAL OPPORTUNITY BC. Development opportunity with xCan be shared by 3 users ranging xIdeal for office, or office with COQUITLAM High from 1,500 to 6,500 sq. ft. service area profile end unit off subdivision approved, for 49 lots. SALE $1,050,000 OR LEASE $10 to $12/SQ. FT TN United Boulevard. This is one of those rare offerings, 5000 square feet – act accordingly. $1,449,000. +/- 2 ACRES OF PREMIUM RETAIL/DISPLAY SPACE 3700sf office, 1500 sf xLocated on busiest road in xWell maintained 5,446 sq. ft. warehouse 2 grade level www.wildrose.canbyours.com Chilliwack - High visibility building with HVAC, showroom doors. Adjacent 1 acre yard space also for lease with this offering! xIdeal location for virtually any and 6 automotive bays For Lease @ $11.50/sq.ft. NNN For Sale at $925,000 Prime ¾ acre and commercial customer oriented business xFormer Auto/RV Retail Sales/Service building on 176th and Highway xProperty consists of 2 titles BUSINESS OPPORTUNITY SALE $2,950,000 OR LEASE $12,000/MONTH TN COQUITLAM BRAND NEW Convenience/Coffee/Grocery/ 1. Opportunity for development, Cigarettes/Lotto/News Store commercial or church. High PROFESSIONAL OFFICE SPACE near Coquitlam Centre. visibility! MLS# F3000454 xPlenty of onsite parking xIncludes: sales, office, board NOT A FRANCHISE!! Includes xOn main access route to down room, reception and more *Seeing is believing! Ready made town x6,169 sq. ft. space all Brand New Equipment $449,900 Restaurant, up to “Franchisor” standards. Newly Renovated Urban SALE $425,000 OR LEASE $7.50/SQ. FT. TN SALE $425,000 OR LEASE SPACE STOREFRONT Fare Dining, in Abbotsford. Active MAPLE RIDGE 1560 sq. ft. Lougheed Highway FOR SALELEASE IN $7.50/sq. CHILLIWACK ft. TN Downtown space. Retail or office, with parking behind and in front Biz for Sale in prime location. Some vendor financing may be PREMIUM INVESTMENT OPPORTUNITY available to qualified purchaser. xLarge single tenant retail building xLocated on busy main road xCurrently occupied on a long term xWell maintained 56,927 sq. ft. bldg Financials and Lease info available. basis by name brand tenant xFuture development potential Liquidation World xClean Environmental Review 2010 bluestone.IsNowOffered.com $2340.00 / month – 3 year lease SALE $2,995,000 PRIME RESIDENTIAL DEVELOPMENT LAND OPPORTUNITY DAVID KEARNEY CCIM RAY YENKANA CCIM, ABR www.davidkearney.com xLocated on eastern Hillsides 18.94 ACRES xEasy Access to Highway 1 1-800-668-8661 near Falls Golf Course xOutstanding Valley Views [email protected] [email protected] xCity Services Nearby $1,400,000 604-942-0606 www.rayyenkana.com INVESTMENT PROPERTY FORECLOSURE PROPERTY Toll Free: 1-888-942-0606 (listing details) xCompletely Renovated x8,940 sq. ft. building RE/MAX SABRE REALTY RE/MAX LITTLE OAK REALTY xIn Harrison Hot Springs xCompletely renovated x1,057 sf strata property xPrice below appraised xFully leased - 7% CAP value xAveda Hair Salon xCourt ordered sale SALE $187,900 SALE $789,000 YOUR WEST COAST B&B EXPERT. WHETHER YOU ARE A SEASONED INN KEEPER OR 1 ACRE INDUSTRIAL LIVE/WORK PROPERTIES ASPIRING B&B OWNER WE CAN HELP YOU GET GOING IN THIS EXCITING BUSINESS. x2,843 sq. ft. 4 Bedroom Home xLight Industrial/Commercial Sooke, B.C. xGreat living space xIdeal for Automotive, woodwork, xZoned CD14 - Outside Storage Machine Shop, Warehouse, COOPERS COVE GUEST HOUSE- Distribution Stunning oceanfront B&B operated by award winning chef, $1,300,000 SALE $695,000 OCEAN WILDERNESS INN – FORECLOSURE PROPERTY Almost 5 acres very private setting spectacular secluded beach $1,490,000 xIdeal opportunity for live/work xRestaurant building in need of repair situation xDirect exposure to Trans Canada HWY xProperty is .60 acres xZoned C2 (Highway Commercial) Vernon B.C. xModular home with 2 bedrooms xUpgrade and repair to build equity HARBOUR LIGHTS B&B well established lake view B&B $895,000 SALE $249,900 Kitimat, B.C FOR LEASE IN CHILLIWACK FABULOUS MONEY MAKER, built by Alcan for high end housing $799,900 RETAIL SPACE PROF./MEDICAL/OFFICE For information on these and other exciting B&B and Inn Listings check out xNear Regional Centre x45555 Hodgins Ave. Chilliwack, BC xStorefront Exposure 972 to 1,972 sq. ft. @ $12.00/sq. ft. TN x1,086 - 1,800 sq. ft. on 1st and www.bedandbreakfastforsale.net 2nd floor x106-9300 Nowell St. Chilliwack, BC or Contact xOnsite Parking 1,091 sq. ft. @ $12.00/sq. ft. TN Lease from $15 to $22/sq. ft. TN xA-9123 Mary St. Chilliwack, BC 1,524 sq. ft. @ $14.00/sq. ft. TN PETER BIRRELL 1-800-665-1455 xNew Tenant Incentive, 3 Months RE/MAX CREST REALTY Rent Free with new 5 Year Lease WAREHOUSE SPACE xRetail - 2,060 sq. ft. x xExcellent exposure B-45911 Airport Rd. Chilliwack, BC xOnsite parking & signage 1,374 sq. ft. @ $7.50/sq. ft. TN PRIME COMMERCIAL LAND - HIGH EXPOSURE LOCATION x8375 Noble Rd. Chilliwack, BC Wow what a site. First time offered, this prime 8.2 acre property is proposed commercial. High profile Lease $12/sq. ft. TN xOn high traffic corner 2,690 sq. ft. @ $7.50/sq. ft. TN location on 200th Street at the 401 highway. Few blocks away from new park and ride/transit exchange. x4 spaces to choose from x44915 Yale Rd. Chilliwack, BC Adjacent to green belt. Gateway to Langley. Fabulous mountain views. Very rare opportunity. Last high x806 to 1,900 sq. ft. 2,020 sq. ft. @ $11.00/sq. ft. TN profile piece available. Phone now. $15,700,000 xWell maintained building BARE LAND RARE OPPORTUNITY BUSINESS PARK / COMMERCIAL xIdeal location for your business This rare 2.34 acre property has tremendous opportunity. Right across from new park and ride/transit Lease from $6.50 to $15/ sq. ft. TN 3 Lots on Logan Dr. Chilliwack, BC exchange. First time offered. Beautiful custom home to live in or rent while developing. This property may .91 acres-1.41 acres $2,150 to $3,300/mo be purchased with neighbouring property for a total of 4.69 acres. Fantastic opportunity. $2,246,400 Bob Plowright RE/MAX Bob Plowright Realty CHILLIWACK, BC 1-800-830-7175 - 604-858-7179 [email protected] ANNE WILSON 604 533-3491 RE/MAX T REELAND www.bobplowright.com SPECTACULAR VIEW LANGLEY LOOKING FOR A TRADE 36.4 ACRE PROPERTY – 1.75 Acres Zoned C2 commercial complete with 1.14 Acres on Hwy 97 Peachland. Current zoning is highway commercial. ABBOTSFORD beautifully maintained 4300 sq ft office building. Full range of uses allowed for retail goods & Property just across road from lake. Would like to trade for something One of a kind awesome view, overlooking services. Large paved parking lot plus approx. in Fraser Valley of similar value. $995,000 Million. Call for pkg. Fraser river & Valley farms. Ideal building 1 acre of fenced compound. Strategically located site for the exclusive country estate. for any Fraser Valley based enterprise. Excellent Garth Olson or Glenn Duff Fully useable farmland for berries or livestock. opportunity for investors or expanding business. RE/MAX TREELAND REALTY First time offered at $2,198,000 Offered @ 1,980,000 604-533-3491 T/F 1-888-707-3577 CALL ROY MUFFORD 604-533-3491