COMMERCIAL REAL ESTATE | FRANCHISES | BUSINESS OPPORTUNITIES $4.29 • NOVEMBER 2017 • VOL32/11 OUR ANNUAL PICKS | 14 FIVE TOP TOWNS FOR INVESTORS Kelowna, Calgary ranked among best places for real estate returns in 2018 WORLD’S TALLEST | 18 PASSIVE TOWER TO TOP RECORD Kevin Cheung, CEO of Landa Global, proposes massive Passive House highrises in Vancouver CONTENTS Full index 3 MARION HARPER TRESKIN Parq Vancouver opens 10 Residential supply 12 PPARQARQ VVANCOUVERANCOUVER Five top towns 14 Furry Creek sold 16 PPROMISESROMISES 224-74-7 Massive Passive 18 B.C. report 24 DDOWNTOWNOWNTOWN AACTIONCTION Done Deals 26 NNEWEW CCASINOASINO ANDAND TWOTWO HOTELSHOTELS | 1100 PUBLICATIONS MAIL AGREEMENT 40069240 1 1 0 6 0 3 5 8 1 8 2 9 1 9 MACDONALD COMMERCIAL Commercial Sales & Leasing, Property & Asset Management and Strata Management. macdonaldcommercial.com 604.736.5611 Listings on Page A4 & A5 A2 | LOWER MAINLAND WESTERNINVESTOR.COM | NOVEMBER 2017 FOR SALE: 2 PROPERTIES WITH FOR SALE - EAST VANCOUVER PRIME OCEANFRONT FOR SALE FOR SALE - SINGLE TENANT 7 APARTMENT BUILDINGS BUILDING AND PROPERTY DEVELOPMENT OPPORTUNITY 38.4 - 78.4 ACRES INVESTMENT OPPORTUNITY BAYVIEW CHATEAU - 1371 BLACKWOOD ST 1428 CHARLES STREET, VANCOUVER MARINER’S VILLAGE, SOOKE, BC BURKE MOUNTAIN, COQUITLAM 250 WINNIPEG STREET, PENTICTON, BC WHITE ROCK GARDENS - 14989 ROPER AVE WHITE ROCK, BC • Pad Development Opportunity • Approximately 40,000 sf, two storey building • 8.63 acres of development land approved for • 2 lots: 38.4 and 40 acres • 1.43 acres site with net rentable area of 23,565 sf on 23,262 sf corner site mixed-use development • Beautiful views • A total of 93 suites & approx. 3.4 acres of land • Net Operating Income $564,668 (as of 09/2017) • Located in Strathcona, walking distance to • Views of Sooke Harbour & the Olympic Mountains • Future residential development property • Well maintained and landscaped with over $1.6 m • Long term lease amenities of Venables and Commercial Drive • Serviced, zoned, marina leasehold included or ideal estate lots in renovations in the past 4 years • Listing Price $9,800,000 • Asking $6,300,000 • Asking $3,500,000 per lot • Asking Price $27,700,000 GREG MILES | CHRIS J. NEWTON* BILL RANDALL* | ANNE TANNER* PETER GIBSON* | JON BUCKLEY* DON DUNCAN* | CHRIS DRIVER* MATTHEW MACLEAN* TIM SOMMER* BILL RANDALL* CO-LISTED WITH FORM RETAIL KOLUMBIA GARDEN MULTI-FAMILY FOR SALE: PROMINENT WEST PROSPERITY BUILDING AT INSPIRATION BUILDING AT 3 STOREY RENTAL BUILDING WITH DEVELOPMENT OPPORTUNITY END DEVELOPMENT SITE DOCKSIDE GREEN DOCKSIDE GREEN 39 STRATA TITLED SUITES 17719 58A AVENUE, SURREY 342 WALE ROAD, COLWOOD, BC 1070 & 1042 NELSON STREET, VANCOUVER 388 HARBOUR ROAD, VICTORIA, BC 398 HARBOUR ROAD, VICTORIA, BC • 19 - One bedroom & 20 - Two bedroom suites • Centrally located in the rapidly growing West • 22 unit & 26 unit strata buildings • Spectacular Turnkey Class “A” Strata • Spectacular Turnkey Class “A” Strata • Net rentable floor area of 32,699 sf Shore community of Colwood • Burrard Corridor - High Density Site • Ground Floor - 4,393 sf • Second Floor - 6,642 sf • Includes 50 secured parking stalls • Site size of 59,374 sf • Potential for total assembly of 25,905 sf site • Second Floor - 1,657 sf • Third Floor - 6,641 sf and 20 surface stalls • Asking Price $2,999,000 • Contact agents for further details • Third Floor - 4,100 sf • Asking Price $6,898,000 BRAD NEWMAN-BENNETT DON DUNCAN* | CHRIS DRIVER* TIM SOMMER* | CHRIS DRIVER* SCOTT MACPHERSON COLLEEN AUSTIN | ANNE TANNER* COLLEEN AUSTIN | ANNE TANNER* KELOWNA AREA FOR SALE: 30 ACRES OF FOR SALE - RARE FREESTANDING RARE 7.5 ACRE FOR SALE: RARE FREESTANDING SHOPPING CENTRE DEVELOPMENT LAND BUILDING IN SOUTH VAN DEVELOPMENT SITE WITH BUILDING IN BURNABY RD WESTBANK SHOPPING CENTRE BEAUMONT LAKES SOUTH, EDMONTON, AB 8695 BARNARD STREET, VANCOUVER 3 READING APPROVAL 4098 MCCONNELL DRIVE, BURNABY SITE (±30 ACRES) A B • GLA: 73,898 sf; Lot Size: 8.6 acres • Beaumont Alberta - Prominent location • ±6,400 sf building in highly visible location • 30 Single Family lots (min. 7,000 sfr per lot) • Mixed office/warehouse in the Winston industrial • Leasehold interest with 74 years left • 30 acres - Commercial & Residential uses • 5 grade level doors and clear span warehouse • Subject site demolished and cleaned corridor of North Burnaby on a prepaid lease • ±165,000 per acre • Large fenced and partially paved/gravelled • RD-1D • 33,140 sf building on 1.54 acres of land • Tenanted by: Landmark Cinemas, Tim Hortons, • Price reduced to $800,000 yard area • Please contact listing agents for pricing • Zoned M5 - light industrial district White Spot and TD Bank • 3 phase power; 17’ ceiling heights • Asking Price $11,000,000 PETER GIBSON* HARPREET SINGH* | MICHAEL HARDY* KEVIN MEIKLE*** | EDGAR BUKSEVICS* HARPREET SINGH* BILL HOBBS* | GREG MILES | ERIC RICE BILL RANDALL* JORDAN SENGARA* | RON EMERSON HANDS-FREE INDUSTRIAL INVESTMENT ±3.8 ACRE INDUSTRIAL DEVELOPMENT BRAND NEW STRATA UNITS IN ±16.87 ACRES DEVELOPMENT INVESTMENT OPPORTUNITY WITH UPSIDE OPPORTUNITY FOR SALE PORT KELLS SITE IN CLAYBURN AREA 850 POWELL STREET, VANCOUVER 19473 FRASER WAY, PITT MEADOWS 31401 GILL AVENUE, MISSION 19715 96TH AVENUE, LANGLEY 34992 BATEMAN ROAD, ABBOTSFORD • Starbucks, Subway, Roots & Fruits • 51,869 sf in 2 units • Excellent and rare opportunity • 9,480 sf - 11,886 sf available • Potential for Single Family lots • Stabilized NOI $127,194 • Excellent parking; New roof; Loading; Yard areas • Busy corridor of Abbotsford • Dock and grade loading • Next to a well developed area • $5,650,000 • Below market rents • Secondary Commercial (OCP); Mill Lake (NCP) • Exposure to 96th Avenue and Telegraph Trail • Zone CR • Sale Price $9,800,000 • Please contact listing agent for pricing • Asking Price $300 psf • Asking Price $3,500,000 ERIC WALKER RICK EASTMAN* HARPREET SINGH* ANDREW GREEN* HARPREET SINGH* FOR SALE FULLY TENANTED METROTOWN DEVELOPMENT RARE FREESTANDING FOR SALE - 168.7 ACRES THE DUNCAN COURTHOUSE INDUSTRIAL PROPERTY OPPORTUNITY FOR SALE INDUSTRIAL INVESTMENT WITH RENTAL INCOME 238 GOVERNMENT STREET, DUNCAN, BC CLOVERDALE INVESTMENT PROPERTY 5105 KINGSWAY, BURNABY 1940 BROADWAY STREET, PORT COQUITLAM 2575 ALASKA HIGHWAY, FORT NELSON, BC REDUCED • Opportunity to purchase a well maintained • 22,500 sf freestanding manufacturing/ • OCP: Metrotown, Marlborough • 5 year lease expiring 2021 provincial government tenanted Courthouse distribution warehouse • Sub Area: High density mixed-use • Great traffic exposure • 11,000 sf building on 168.7 acres and office buildings (includes office, coffee room & a parts room) • Dock and grade loading; Fenced compound • Site Area: 9,532 sf • One block from Coast Meridian Overpass • 10 year leases in place; leasable area is 30,047 sf • Current lease rate is $273,900 net per annum • Strong International Covenant • Multi-tenant building with holding income • Sale Price $2,250,000 • Cap rate 5.27% for the building and 20 acres • Please contact agents for listing price • Reduced Price $7,988,888 • Asking Price $4,900,000 ANNE TANNER* | ADAM FRIZZELL BILL HOBBS* CRAIG HAZIZA** | KYLE WILSON RICK EASTMAN* | KEVIN VOLZ* BILL RANDALL* FOR SALE: PRIME WESTSIDE STATE-OF-THE-ART BRAND NEW STRATA FOR SALE TWO LIQUOR STORES INVESTMENT PROPERTY LABORATORY WAREHOUSE DEVELOPMENT 250 HIGHWAY 97A VERNON/SPALLUMCHEEN, BC FORT ST. JOHN, BC 3496 DUNBAR STREET, VANCOUVER 285 JONES ROAD, LILLOOET, BC 580 NICOLA AVENUE, PORT COQUITLAM • Corner lot - Dunbar Street & West 19th Avenue • Building ±10,000 sf • Unit sizes from 1,845 sf up to 68,724 sf • Located in Spallumcheen Valley • Highly desirable Westside street • Land ±85 acres • Rear grade loading to each unit • 112 acres • Land, building and business • Walking distance to schools, parks and shops • $1,690,000 • Construction completion approximately • Industrial zoning • NOI $873,629 • $4,980,000 November 2018 • Asking $4,500,000 • Price $7,700,000 • Presale pricing now available • Cap Rate: 11.43% ERIC WALKER | ADAM FRIZZELL BOE IRAVANI* ERIC WALKER KEVIN VOLZ* | ANDREW GREEN* BILL RANDALL* | ERIC RICE 604 683 3111 / cushmanwakefield.com *Personal Real Estate Corporation / **Craig Haziza is licensed with CAH Realty Inc. and has a contractual relationship with Cushman & Wakefield Ltd. ***Kevin Meikle is licensed with K.H.M. Realty Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. / ****Sean Ungemach is licensed with SBU Realty Advisors Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. / E.&O.E.: This communication is not intended to cause or induce breach of an existing agency agreement. The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Cushman & Wakefield Ltd. VANCOUVER | LOWER MAINLAND | VANCOUVER ISLAND Contents | NOVEMBER 2017 OPINIONS & FEATURES NEWS & COMMENT WESTERN PERSPECTIVE Five top towns for real estate investors 6 Western Investor Frank O’Brien, Western ’s annual ranking 14 Investor editor, notes many World’s most massive Passive House can’t afford to work in the Vancouver towers will rise more than 40 storeys 18 richest city in the province with the lowest jobless rate Pot growers eye ALR farmland But at least one mayor is pushing back 22 SUPPLY FAILS AFFORDABILITY 12 Done Deals Boosting the supply of What sold and for how much in Western Canada 26 condominiums has failed to make housing more afforable in Metro Vancouver’s fastest- building suburban markets ADVERTISING DIRECTORY FURRY CREEK SOLD 16 Sea-to-Sky golf course Lower Mainland 2-22 is being teed up as a Services 18 waterfront residential and Sea to Sky/Sunshine Coast 22 resort development by new Vancouver Island 24-27 China-backed owners MORE OPPORTUNITIES SECTION B Interior B.C., Alberta & other provinces, recreation COVER FEATURE Marion Harper Treskin, general manager of both Marriott hotels 10 at Parq Vancouver: B.C.’s biggest private evelopment l MARRIOTT Call: 604.669.8500 or 1.800.661.6988 | Fax: 604.669.2154 | Email: [email protected] or visit us online at: www.westerninvestor.com | 303 WEST 5TH AVENUE, VANCOUVER, B.C.