▲ Paul Leier, Cavailier Enterprises, in Saskatoon’s first luxury hotel: “this city has changed forever.”
7 GET BACK TO THE OKANAGAN
Old inventory eaten up as buyers feast on recreational bargains
RIVERBEND - 760 MAYFAIR ST Kamloops, BC
“Saskaboom” developers gun into the fast lane
www.mcmrealestate.ca
250-372-2277 mona@mcmrealestate.ca
Mona M. Murray Dip. ULE, RI (BC), CPM
Entertainment Facility, Medical Office, Professional, Personal, Health Services, Community Care Facility SALE PRICE LOT A 1,937 sq.ft: $387,400ÊUÊ "/Ê Ê£]Ó£äÊõ°vÌ\Ê$242,000 "/Ê ÊÎ]ÈänÊõ°vÌ\Ê$721,600 LEASE RATEÊÊf£{ f£nÉõ°vÌÊ« ÕÃÊÌÀ « e net
BUSINESS OPPORTUNITIES INCLUDE:
For Sale or Lease
27 SASKATOON HITS OVERDRIVE
13 INVEST 101: FINDING MONEY
SPECIAL SECTION • A13
LIFESTYLE PROPERTIES
RETURN UNDELIVERABLE CANADIAN ADDRESSES TO CIRCULATION DEPARTMENT: 102 EAST 4TH AVENUE, VANCOUVER, B.C. V5T 1G2 PUBLICATIONS MAIL AGREEMENT 40069240
411 Brink St. FOR SALE Ashcroft, BC
Medicine Hat was well prepared for plunge in its natural gas prices
www.mcmrealestate.ca
250-372-2277 mona@mcmrealestate.ca
Mona M. Murray Dip. ULE, RI (BC), CPM
` Ü Ì Ü Ê V>Ì Ê Ê Ã VÀ vÌ] Ê $219,000
ÕÀÀi ÌÊ iÌÊ V iÊf£È]äääÊ«iÀÊ> Õ ° Possible to add 4-6 residential units to increase annual income Ì ÊfÇä]äääÊqÊÀiµÕ ÀiÃÊ>Ê ÕÞiÀÊÜ Ì Ê>ÊÛ iÜÊÌ ÊvÕÌÕÀiÊ« Ãà L Ì ið Ê£ä]äääÊõvÌÊLÕ ` }Ê ÃÊ ÊiÝVi i ÌÊV ` Ì Ê Ê>Ê«À iÊ
For Sale
17 HELLUVA FUTURE IN ‘HAT
UNTAPPED POTENTIAL!
How to get backing when banks get tough and cash-flow slows
$4.29 MAY 2012 Vol. 27/Issue 5 INTERIOR B.C. • ALBERTA • SASKATCHEWAN • MANITOBA SECTION
B2 Interior British Columbia Colliers International Centre Group Commercial Realty Kelowna, B.C. 250.763.2300
www.westerninvestor.com MAY 2012WESTERN INVESTOR
Colliers International Centre Group Real Estate Services Kamloops, B.C. 250.372.7000
www.colliers.com/kelowna
Indoor Car & Truck Wash w/ C-Store
SOPA SQUARE
DOWNTOWN VERNON
s 'AS 3TATION WITH # 3TORE s #OMMERCIAL #ARDLOCK s 0ROPANE #ARDLOCK
s -IXED USE RETAIL COMMERCIAL RESIDENTIAL AT 0ANDOSY +ELOWNA s 0ROXIMITY TO +'( /KANAGAN ,AKE 5P TO SQ FT OF OFFICE SPACE AVAILABLE ,EASE OR 0URCHASE www.sopasquare.com
s SQ FT BUILDING W UNDERGROUND PARKADE FIXTURE RESTAURANT LIQUOR PRIMARY LICENSE Reduced to: $1,695,000 Highway 97 @ 43rd Avenue, Vancouver s SQ FT RESTAURANT WITH PATIO &OR 3ALE OR ,EASE JEFF HUDSON* www.bcip.ca
JACK SHABBITS & ERIC WEBER*
0%23/.!, 2%!, %34!4% #/20
MIKE GEDDES*
1940 UNDERHILL ( SCHOOL DISTRICT 23 KELOWNA ) s 3UPERIOR LOCATION n ACROSS THE STREET FROM /RCHARD 0ARK -ALL s 0OTENTIAL TO REZONE TO MIXED USE COMMERCIAL HI RISE MULTI FAMILY s ACRES ON RELATIVELY FLAT SITE List Price: $6,900,000
MULTI TENANT INDUSTRIAL PENTICTON s COMMERCIAL TENANT SPACES s SQ FT List Price: $2,900,000 s SF BUILDING ON ACRE ONLY VACANCY
0%23/.!, 2%!, %34!4% #/20
List Price: $2,690,000 %2)# 7%"%2 *!93/. -##!24(9
HYDE MOUNTAIN GOLF COURSE
KAMLOOPS WAREHOUSE s SQUARE FOOT REFRIGERATED WARE HOUSE W SQ FT CONSTRUCTED AS FREEZER SPACE $OCK GRADE LEVEL LOADING ACRE SITE TENANTED
s 3ICAMOUS " # s TOTAL DEVELOPABLE UNITS List Price: $15,000,000 Chad Biafore & Marshall McAnerney*
List Price: $1,895,000 ,!229 '//$
*%&& (5$3/. -!23(!,, -#!.%2.%9
DOWNTOWN KELOWNA MULTI FAMILY DEVELOPMENT SITE s ACRES :ONED 2- s -ANY UPGRADES COMPLETED REQUIRES ONLY $0 TO COMMENCE CONSTRUCTION List Price: $1,700,000 #HAD "IAFORE -ARSHALL -C!NERNEY
230 CARION ROAD, WINFIELD s SQ FT TILT UP INDUSTRIAL BUILDING ON ACRES s SQ FT OF OFFICE SPACE ON FLOORS
DEVELOPMENT SITE KELOWNA NORTH s SITES ACRES AC s ,OCATED IMMEDIATELY . OF THE $ 4 s :ONED INDUSTRIAL REZONING MAY EXIST s 3ELLER MAY LEASE BACK A PORTION List Price: $10 M & $5.5 M %2)# 7%"%2 -!23(!,, -#!.%2.%9
247 BRIDGE STREET, PRINCETON
955 TIMMINS STREET, PENTICTON s SQ FT MANUFACTURING PLANT WITH OFFICE AND WAREHOUSE AREAS ON ACRE SITE IN 0ENTICTON
s SQ FT BUILDING FORMER GROCERY STORE s ON SITE PARKING STALLS SITE COVERAGE ON ACRE
List Price: $5,950,000
List Price: $1,175,000 "/" '!5,%9
-)+% '%$$%3
MOTEL, HOTEL & BUSINESS CONSULTANTS s MEMBER of the Canadian I.C. & I Council
UÊ
201-1449 St . Paul St., Kelowna, B.C. V1Y 2E5
O f fice: Fax:
250-862-8100 250-984-0803
Syd Berisoff
Larry Berisoff
Jody L. Miller
Agent/Broker
Associate Broker
Personal Real Estate Corporation
syd@syberrealty.com
larry@syberrealty.com
jody@syberrealty.com
To view photos on these and other opportunities visit our website
OKANAGAN LIQUOR STORE s 6ERY "USY ,IQUOR 3TORE s -OTEL 5NITS n .ICE #ONDITION s "USY 0UB 2ESTAURANT s %XCELLENT !CCESS 0ARKING ON .EARLY !CRE $ 2,475,000
OKANAGAN BEST WESTERN s 5NITS IN 6ERY 'OOD #ONDITION s %ASY TO /PERATE #LOSE TO 3HOPPING -ALL s )NDOOR 0OOL "REAKFAST 2OOM s %XCELLENT #ONDITION ,OTS OF 0ARKING $ 3,300,000
www.syberrealty.com
RAMADA s )MMACULATE 5NITS s -INIMAL #OMPETITION %ASY TO /PERATE s 2ECENT 5PGRADES 46S 'RANITE 0AINT s /UTDOOR 0OOL 4HIS IS A .ICE 0LACE $ 3,249,000
OKANAGAN LIQUOR STORE s %ASY TO /PERATE ,IQUOR 3TORE s 'REAT 0ARKING AND !CCESS s 0UB AND +ITCHEN PLUS 2OOMS s -ANAGER S 3UITE 3ELLER MAY #ARRY $ 999,000
MOTELS s 5NITS IN #LINTON $ 219,000 s 5NITS !NISWORTH (OT 3PRINGS $ 599,000 OKANAGAN GROCERY s 3AME OWNER FOR ALMOST YEARS s .ICE #EMENT "LOCK "UILDING s 'ROCERY ,OTTO 6IDEO 3LUSH #HICKEN
)CE #REAM ETC #LEAN AND 4IDY $ 529,000!
REVELSTOKE s !CRES WITH FEET OF 4RANS #ANADA &RONTAGE s %XCELLENT "UILDING X WITH 3HOWROOM AND 3HOP s -ANY USES n STORAGE SNOWMOBILE 26 ETC s 3ELLER MAY 4RADE #ARRY OR ,EASE *UST REDUCED TO $ 895,000!
MOBILE HOME PARK s PADS n ALWAYS FULL s -ANAGER IN PLACE %ASY TO /PERATE s .EAR 7ILLIAMS ,AKE s ,AGOON AND WELL NEW PUMP s *UST REDUCED FROM $ 649,000
s 5NITS IN -ERRITT $ 779,000 s 5NITS IN -ERRITT $ 695,000 s 5NITS 'RAND &ORKS $ 499,000 s 5NITS IN 3ALMON !RM $ 498,000 s 5NITS IN ,YTTON $ 490,000 s 5NITS 3HOP #HRISTINA ,AKE $ 519,000 s 5NITS #RESTON $ 439,900
VERNON B.C. s -ODERN 'ROCERY # 3TORE WITH $ELI ETC s %XCELLENT "UILDING #LOSE TO (OSPITAL s "EDROOM ,IVING !REA 3EPARATE 0ARKING ,OT s %XCELLENT 0ROl TABLE &AMILY "USINESS $ 1,228,000
SOUTHERN ALBERTA s -ODERN )MPRESSIVE 2ESORT (OTEL s 3UITES #ABINS 3TAFF 5NITS s 2ESTAURANT ,OUNGE "ANQUET 0OOL s 7ALK TO ,AKE #LOSE TO 3KIING AND 'OLF s -ANAGEMENT OF #ONDO 5NITS s !LL 3TAFF IN 0LACE 4REMENDOUS "USINESS $ 4,100,000 '34
TREMENDOUS RESORT s ,OCATED ON THE &AMOUS "OWRON ,AKES s %STABLISHED IN 2ESTORED AND )MMACULATE #ABINS -AIN ,ODGE WITH +ITCHEN &ACILITIES 26 3ITES #ANOES AND +AYAKS 3TORE ETC s /PERATED 3EASONALLY )MPECCABLY +EPT $ 2,200,000
s 5NITS 0RINCETON $ 899,000 s 5NITS &ERNIE $ 1,200,000 s 5NITS #RANBROOK $ 1,275,000
$0/5&/54 .": */5&3*03 # $ Â… "-#&35" Â… 4"4,"5$)&8"/ Â… ."/*50#" 4&$5*0/
FEATURES 27 0/ 5)& $07&3 4BTLBUPPO HFUT BMM GBODZ
On the cover Paul Leier, president of Cavalier Enterprises, relaxes in Saskatoon’s first boutique luxury hotel, The James. Photo: Cindy Moleski
Chic “The James� is first luxury hotel in boomtown
7
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Old condo inventory fire-saled to make way for future Download a PDF of all our Regional Roundups online at www.westerninvestor.com
17 5BLJOH UPVHI NFEJDJOF JO UIF ÂŁ)BU
Medicine Hat moves past plunge in natural gas prices
COLUMNS 11 13 23 30
8)"5¤4 )"11&/*/( */ #3*5*4) $0-6.#*" */7&45*/( '*/%*/( 5)& .0/&: 8)"5¤4 )"11&/*/( */ "-#&35" 8)"5¤4 )"11&/*/( */ ."/*50#"
41&$*"- 4&$5*0/ Â… " LIFESTYLE PROPERTIES
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2–11 */5&3*03 /035)&3/ # $ 3&"- &45"5&
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12–26 "-#&35" 3&"- &45"5&
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6 0 4 - 6 6 9 - 8 5 0 0 o r 1 - 8 0 0 - 6 6 1 - 6 9 8 8 f a x : 6 0 4 - 6 6 9 - 2 1 5 4 i n f o @ w e s t e r n i n v e s t o r. c o m w w w. w e s t e r n i n v e s t o r. c o m 1 0 2 E a s t 4 t h A v e n u e , Va n c o u v e r, B . C . V 5 T 1 G 2
McLaughlin Commercial Group - RE/MAX Commercial - RE/MAX Kelowna PRIME DEVELOPMENT SITES WINFIELD TOWN CENTRE FULLY SERVICED & READY TO BUILD 2.93 Acres - Lots 1 & 2 1.31 Acres - Lot 1 1.62 Acres - Lot 2 0.90 Acres - Lot 3 2.67 Acres - Lot 4
NG I D PEN
NG I D PEN
$ 3,399,000 $ 1,699,000 $ 1,699,000 $ 1,000,000 $ 3,250,000
INDUSTRIAL STRATA UNIT AVAILABLE
SERVICE COMMERCIAL STRATA UNIT
$SSUR[ 6) RQ WKH PDLQ ÀRRU DQG Located near Reid’s Corner and 5 minutes SF on the mezzanine level. away from Kelowna’s International Airport. Zoned I2. 2 Exclusive loading docks and 1 - Zoned C10. Approx. 1,700 SF with multiple 10’x14’ overhead door. Multiple improvements RI¿FHV UHFHSWLRQ DUHD ZDUHKRXVH DQG already in place! boardroom. 1 x 14’x12’ Overhead door.
6.5 Acres – Asking: $6,500,000,00 + HST MLSŽ (Plus DLC – Latecomer Charges)
Asking: $355,000.00 + HST MLSÂŽ
Asking: $299,900.00 plus HST MLSÂŽ
APPROXIMATELY 115.68 ACRES LAND ASSEMBLY IN NORTH GLENMORE/ UNIVERSITY DISTRICT Minutes from Kelowna’s International Airport. One side abuts golf course in Quail Ridge. Gravel Pit is a permitted use! 70.80 Acres - Lot D 15.63 Acres - Lot 1 11.62 Acres - Lot 9 9.10 Acres - Lot 10 8.98 Acres - Lot 8
$5,318,000 $1,315,800 $ 962,200 $ 773,500 $ 763,300
This assembly comprises 5 lots that can be purchased individually or as a complete package.
Asking: $9,132,800.00 MLSÂŽ
SEARS WEST KELOWNA LOCATION
20+ YEARS OPERATING RESTAURANT WEST KELOWNA, B.C.
Gorgeous, new 12,000 SF distribution and highway exposure location. Turn-key package available with one of the best names in the business. Inventory is paid for by Sears and therefore there are no inventory costs!
Your First & Last Call!
Turn-key location available. Highway frontage and great exposure. Dining room has approx. 40 seats. Equipment and inventory are included within the price!
Asking: $325,000.00 + HST Exclusive Listing
Asking: $39,900.00 + HST MLSÂŽ LEASE OFFERINGS - Kelowna
- West Kelowna
NORTH GLENMORE COMMERCIAL DEVELOPMENT OPPORTUNITY
Approx. 3.32 acres with C9 zoning. Currently being operated as a mobile home DQG 59 SDUN 6LWH FXUUHQWO\ DOVR KDV WZR residences. Neighbouring proposed Glenmore Rd. to UBCO bypass. Asking: $3,300,000.00 Exclusive
- Kelowna
- West Kelowna - Vernon - Lake Country
- Kelowna
INDUSTRIAL 6) 1,569 - 7,295 SF 6)
2IÂżFH :DUHKRXVH New Tilt-Up 2IÂżFH :DUHKRXVH <DUG
RETAIL/OFFICE 6) 1,990 SF 6) 6) 1,100 - 3,300 SF 6) 6)
3DQGRV\ $UHD /RZHU 0LVVLRQ Downtown Kelowna 5HWDLO 2IÂżFH :DUHKRXVH 8SSHU 0LVVLRQ .HWWOH 9DOOH\ Main Floor Shell Units 6RXWK 9HUQRQ +LJKZD\ 5HWDLO 3DGV 6LWHV
SERVICE COMMERCIAL 6) 6) 6)
Ken McLaughlin, B.Comm. - 250.870.7845
&RPPHUFLDO ,QGXVWULDO 0L[ 2IÂżFHV :DUHKRXVH 2IÂżFH
WEST KELOWNA INDUSTRIAL LAND & BUILDING FOR LEASE Approx. 6,000 SF building footprint. Approx. 1.22 acres with the ability for outdoor storage. 4 x 10’x14’ Overhead doors, 600 $03 SKDVH HOHFWULFDO VHUYLFH RI¿FHV reception area, and washrooms. Asking: $5,000.00 per Month + HST & NNN
Kris McLaughlin - 250.870.2165
B4 Interior British Columbia
www.westerninvestor.com MAY 2012WESTERN INVESTOR
SALMON ARM, B.C. Reduced to $459,000
Super 8 Motel 40 units, 27 built in 06, 13 older rms complete Reno. Built above standards with 2 bedrooms, L/Q, and a private deck. Office with breakfast area. Variety of rooms some with full kit all with queen or king beds. Built above standard. Hard wired. $4.2M
14 apartment condominiums to be built to complete the 38-unit Valley Vista on a two-acre sloping property. Excellent view of Shuswap Lake from one side, forest on the other. Onebedroom, 600 sq. ft., two four-plexes and a six-plex. Some suites are level entry. Can be rented. Quiet pets welcome. Modulars built by SRI Homes in Kelowna. Foundations are ready and waiting for the two four-plexes. All services and driveways are in.
The Oldest Working Guest Ranch in Canada was on the trail to the gold rush and has the log buildings to prove it. Situated on the banks of Green Lake, BC. The heart of the ranch consists of “old west� style log accommodations plus a new main lodge built in 2010, and other log buildings house the saloon, theatre, general store, 25 guest cabins, museum, jail, blacksmith shop, workshop, barns and hay shed. Very good numbers. Call for details
Dwight Vos 250.371.7992
SALLY SCALES
Tracy Mackenzie 250.318.2938
sallys1@telus.net or 250-833-2129
Great starter, 15 Unit Motel on .62 acre with 2 bdrm living quarters in desirable sunny south Okanagan area called Penticton. this property has on going upgrades. It is situated next to a medium rise condo project, which offers all kinds of possibilities.
Sicamous, BC
BUSINESS AND INVESTMENT OPPORTUNITIES
This 72 Room Motel is large enough to be franchised. Newly renovated pool and 4700sq ft 180 seat restaurant with many upgrades which makes this an ideal stop over for the Bus tour industry and travellers. Below Appraisal
Multi-Unit Residential
UĂŠĂŠ >Ă€}iĂŠ >V…ˆ˜iÉ7iÂ?`ˆ˜}ĂŠ-Â…ÂœÂŤĂŠâ€“ Suitable for investor or owner/operator. Includes land & buildings. fÓ°ÓxĂŠ ˆÂ?Â?ˆœ˜
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UĂŠ ˆViÂ˜Ăƒi`ĂŠ >Ă€iĂŠ >VˆÂ?ÂˆĂŒĂžĂŠ qĂŠ >“Â?ÂœÂœÂŤĂƒĂŠ – 9 bedrooms, 7 bathrooms on spacious lot. Built in 2008. Has all amenities needed. Well-priced atĂŠfx™n]™ää
DEVELOPMENTAL LAND AND
GOLF COURSE FOR SALE D UCE
RED RICE
P
IN THE BEAUTIFUL BC INTERIOR
162 Acres 9-Hole Golf Course s Club House s Residence s Trades Considered s s
BEST-WEST REALTY LTD. 250.554.4511
REDUCED TO $799,000 (sold in 2007 for $1,000,000) Approx mortgage payment on $520,000 is < $3,000/mo.
Email: tekamar@telus.net or call: 1-800-658-2345 * Financing available O.A.C.
marketing your franchise? Call the
1-800-661-6988 (604) 669-8500
COMMERCIAL BUILDINGS UĂŠ >“Â?ÂœÂœÂŤĂƒ – 6100 sf bldg. Large yard
f™™x]äää
UĂŠ >“Â?ÂœÂœÂŤĂƒ – 2 Tenants – 8.5% Cap
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UĂŠ >“Â?ÂœÂœÂŤĂƒ – Future Highrise expansion
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UÊ >V…iÊ ÀiiŽ – Hwy Frontage – Secure Yard
fĂŽĂˆÂ™]äää
DWIGHT VOS phone: (250) 554-4511 toll free: 1-866-456-0577 BEST-WEST REALTY LTD. KAMLOOPS email: dvos@kadrea.com
Selling your business? Western Investor Business Opportunity pages are organized geographically so readers can find the opportunity they want.
Six year old attractive 6000 sq ft Concrete Block Building with National tenant. Building sits on 0.61 acres with private paved parking lot. Great Okanagan investment with national tenant and trouble free T/Net lease. Price $869,000 Clinton, BC 4 acre, 26 bay mobile home park can be increased to 27 bays. Approximately 30 years old with all services underground including municipal water and sewer. 26 pads are rented as of May 1, 2012. Asking $474,000 Kamloops 30 Units In Two Buildings also separate office with large living quarters. Outdoor pool property in good shape. Asking $1.7M
www.premierhotelsandmotels.com
Jerry Dombowsky 1 877 717 1886 Premier Canadian Properties
DONE DEALS Done Deals editorial feature will highlight deal flow in Western Canada. Show the market what is moving and who is moving it. The monthly report will highlight major (basically 50K square feet or more; or land deals of $2 million or more) commercial real estate transactions that have closed within the last 30-45 days in Western Canada. Please send us the following information:
westerninvestor.com
SELL
20 Room 4 Star Resort with full service 75 seat log restaurant, putting green golf course, situated on 60 acres overlooking Kootenay Lake. Balfour Golf and Country club located adjacent to the Resort. Breath taking views of the mountains and lake from your private balcony and the restaurant patio. Becoming known as the place to hold your wedding in the Kootenays. Asking $2.5M
FRANK O'BRIEN Editor
UĂŠ UĂŠ UĂŠ UĂŠ ĂŠ ĂŠ UĂŠ UĂŠ
7Â…>ĂŒĂŠĂœ>ĂƒĂŠĂƒÂœÂ?`ĂŠÂœĂ€ĂŠÂ?i>Ăƒi`œÊ 7Â…ÂœĂŠĂœ>ĂƒĂŠĂŒÂ…iĂŠĂ›i˜`ÂœĂ€ĂŠÂˆvĂŠÂŤÂœĂƒĂƒÂˆLÂ?iŽœÊ 7Â…ÂœĂŠĂœ>ĂƒĂŠĂŒÂ…iĂŠLĂ•ĂžiĂ€Ă‰ĂŒi˜>Â˜ĂŒÂśĂŠ vĂŠĂŒÂ…iĂŠÂ˜>“iĂŠÂœvĂŠĂŒÂ…iĂŠLĂ•ĂžiĂ€ĂŠÂˆĂƒĂŠVœ˜w`iÂ˜ĂŒÂˆ>Â?]ĂŠÂŤÂ?i>ĂƒiĂŠ ĂŒiÂ?Â?ĂŠĂœÂ…>ĂŒĂŠĂŒĂžÂŤiĂŠÂœvĂŠLĂ•ĂžiÀʈ°i°]ĂŠ, /]ĂŠÂˆÂ˜ĂƒĂŒÂˆĂŒĂ•ĂŒÂˆÂœÂ˜>Â?]ĂŠ Â?ÂœV>Â?ĂŠÂˆÂ˜Ă›iĂƒĂŒÂœĂ€]ĂŠvÂœĂ€iˆ}Â˜ĂŠÂˆÂ˜Ă›iĂƒĂŒÂœĂ€]ĂŠÂœĂœÂ˜iÀÉLĂ•ÂˆÂ?`iÀŽÊ 7Â…ÂœĂŠĂœ>ĂƒĂŠĂŒÂ…iĂŠÂ?ÂˆĂƒĂŒÂˆÂ˜}ĂŠ>}iÂ˜ĂŒĂ‰>}i˜VޜÊ 7Â…>ĂŒĂŠĂœ>ĂƒĂŠĂŒÂ…iĂŠĂƒiÂ?Â?ˆ˜}ĂŠÂŤĂ€ÂˆViÂś
Please forward this information directly to Frank O’Brien, Western Investor Editor at wieditor@biv.com.
1-800-661-6988
www.westerninvestor.com 1-800-661-6988
Interior B.C./Business Opportunities B5
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
OKANAGAN – B.C. INTERIOR I N V E S T M E N T
O P P O R T U N I T I E S
YOUR CHOICE OF TWO PURCHASE OPTIONS Option 1 Business Only Lease Land & Buildings 9.5% Rate of Return Asking Price $1,899,000 Option 2 Business plus Land & Buildings. 7.7% Rate of Return Asking Price $4,199,000 UÊ } Ê Ý« ÃÕÀiÊ V>Ì UÊÊ > >}iÀ½ÃÊ,ià `i Vi UÊÊ-i iÀÊ >ÞÊV>ÀÀÞÊwÊÀÃÌÊ ÀÌ}>}i UÊ À ÃÃÊf{ x]äää
$700,000 and take over financing. Excellent time to enter!
Ron at 250.804.3305
UÊÊ À iÀÊ- ÌiÊ Ê } ÊÌÀ>vwÊV]Ê } Ê exposure l V>Ì ÊÜ Ì Ê£äää³ÊvÌ°Ê Highway 3 frontage UÊ/ Ü ÊÃiÜiÀÊ EÊÜ>ÌiÀÊ>ÌÊ ÌÊ iÊUÊ6iÀÞÊV ÃiÊÌ Ê > i UÊ V Õ`iÃÊ ÕÃiÊEÊ «iÀ>Ì }Ê ÀV >À`Ê UÊÊ Ài>ÌÊ V>Ì Êv ÀÊv>À Ê}>ÌiÊÜ iÀÞÊ ÀÊ agritourism business
UÊÓ°äÊ VÀiÊ iÛi Ê- ÌiÊ U Zoned for single family or duplex lots U Civil engineering done for 9 lot single family subdivision
$299,000
$1,695,000
Town Homes with Storage…for all your Toys! Lakeshore Drive, Osoyoos - Only 5 Homes Left UÊ9 ÕÀÊ Ü Êi V Ãi`]Ê ÊVi }ÊÃÌ À>}iÊL>ÞÊ >À}iÊi Õ} Êv ÀÊ>Ê{xÊvÌ°Ê Ì À i UÊ ÕÝÕÀ Õà ÞÊ>«« Ìi`Ê£ÊLi`À ÊÌ Ü iÊUÊ i` >ÌiÊ VVÕ«> VÞ UÊ"vviÀi`Ê>ÌÊfÓ ]äää°]Ê iÌÊ -/Ê V Õ`i`Ê UÊ ÀÊ ÀiÊ v ÊÛ Ã ÌÊÜÜÜ°V>VÌÕÃyÊ>ÌðV>
VADIM KOBASEW CO M M E RC I A L R E A L ES TAT E S P E C I A L I S T
250-492-2233 / 1-800-567-6770 RE/MAX FRONT STREET REALTY, PENTICTON, B.C.
THIS TAKEOUT IS ESTIMATING "400,000" IN 2012.
HOTEL, LIQUOR STORE, RESTAURANT $499,000 LE
RDER SA
COURT O
1ST TRAIL REAL ESTATE LTD.
info@bighornmotel.ca
250-347-2439
250-861-5122
For Sale
Well maintained, 12 year old, privately owned arena centrally located in the Tournament Capital of Canada. With a fully licensed and established lounge, this rink is exposed to thousands of registered youth and adult hockey/figure skaters. This is a turnkey operation awaiting a passionate owner/ operator. The facility runs at near capacity during lucrative peak/winter season, as well as yielding year-round revenue during summer camp and tournament programming. An extensive list of assets will be available for both lounge and rink on request. Call: 250-377-4282 or Email: ichockey@telus.net
LARGE CONSTRUCTION PROJECTS
QUALITY INN 48 ROOMS RESTAURANT $2,190,000
DRY CLEANER $89,000 NICELY EQUIPPED. THE ONLY ONE IN THE CITY.
NICELY LOCATED AT THE CROSSROADS OF THE KOOTENAYS. GOOD VOLUME.
FURNITURE AND APPLIANCE BUSINESS INCLUDING 35,000 SQ FT BUILDING, PRIME LOCATION, OWNERS WANT TO RETIRE $1,995,000
Contact: BILL
Exclusively offered by DINO GINI PERSONAL REAL ESTATE CORPORATION Realty Executives of the Okanagan Email: dinogini@realtyexec-kelowna.com
COLDWELL BANKER COMMERCIAL WORLDWIDE MILANOS PIZZA $169,000
Located in the heart of Radium Hot Springs. Comes with attached 2 storey living quarters. Over $250,000 spent on renovations in the last year. Owner will finance with $350,000 down payment.
Fantastic business, 1st time offered for sale! 1st class operation!
DEVELOPMENT SITE DUPLEX - SINGLE FAMILY GRAND FORKS
Asking Price
,000
$750
• Showing sales over 2 million • Long established & growing pool business • Prime location! Huge chemical sales, installation & maintenance of pools & hot tubs, opening/closing of pools
UÊ75 Sites with Full & Partial Services UÊ4.91 Acre Nicely Treed Property UÊClose to large public beach UÊEasy access off Highway 3 UÊFull facilities including pool UÊExceptionally well maintained UÊOperates May 1 to September 15 UÊÊPerfect for semi retired couple Asking Price $699,000
PRIME FARM-HOLDING LAND OSOYOOS
Asking Price
A unique shavings mill business manufacturing premium quality shavings from BC’s surplus pine. The material is compressed into industrial sized packages and is widely distributed. Supply agreements pending. Owner is ready to sell. Business has had strong sales since the first of the year. Turnkey operation.
FABULOUS BUSINESS OPPORTUNITY
CHRISTINA LAKE CAMPGROUND FIRST TIME ON THE MARKET IN OVER 20 YEARS !
20 Room Motel
Established October 2010
VERNON SELF STORAGE BUSINESS OPPORTUNITY
UÊÊÓ°Ç£Ê VÀiÃÊUÊ, Êv ÀÊ Ý«> à UÊÓxnÊ1 ÌÃÊ« ÕÃÊnäÊ-Ì À>}iÊ Ì> iÀà UÊ VÀiÌiÊL V ÊV ÃÌÀÕVÌ UÊ ° °Ê/ «Ê£äÊ1 >Õ Ê V>Ì
BUSINESSFORSALE NEAR CHASE, BC
MIDWAY STORAGE $1,290,000 NICELY LOCATED EXCELLENT SHAPE 100% FULL GREAT SELECTION OF TENANTS
GOLD’S GYM FOR SALE
Business and Property
GREAT BUSINESS
DEV. PROPERTY $595,000 600 FT OF HWY FRONTAGE FOR AUTO DEALER & BODY SHOP.
TRAIL MOTEL LIGHT INDUSTRIAL BLDG $425,000 MH + RV PARK 4 LARGE LOADING DOORS. $895,000 THIS IS A GREAT OPPORTUNITY WITH VERY STEADY INCOME.
OFFICES & MEZZANINE.
(250) 231-5222 (CELL)
www.cbcworldwide.com www.coldwellbankertrail.com
(250) 368-5508 (FAX)
$1.6 Million 101 North Star Road, Quesnel, BC Looking for a life change? This is a rare opportunity to own this popular Gold’s Gym franchise and property located in the growing City of Quesnel. This is a well established and profitable business operating since 1986. Entrepreneur’s franchise 500 Magazine has ranked Gold’s Gym in the top 100 franchises in the world for the last five years. 12,000 square foot building built new in 2007 on an one acre property. Property is assessed at over $950,000, business includes over $600,000 in equipment.
604.435.9477 à `JL `À ÌÃ>ðV ÊÊUÊÊÜÜÜ°L `À ÌÃ>ðV
B6 Interior British Columbia $588,000
Commercial building in the heart of downtown Fernie, BC 3000sqft main oor commercial space and two partially ďŹ nished residential suites upstairs waiting for someone to ďŹ nish the renovations. MLS K4100066
Abe Martens 250-430-1070 RE/MAX Elk Valley
SICAMOUS, BC 1/2 Acre lot on Shuswap Lake at Sicamous, B.C. 3700 sq. ft. house with 4 bedrooms, 2 baths, sauna, 4000 sq.ft. of deck, double detached garage and double carport, beautiful location and landscape, with private boat dock. Offered for $ 925,000.00 Fully furnished as well. For Further Information and Details, Call
RE/MAX GRANDE PRAIRIE
Thiry Kelemen 780-831-8804 thiry@telus.net
OKANAGAN OPPORTUNITIES
KAMLOOPS BC Building/Land Opportunity
Hurry on this building and land in an excellent location across from a major Kamloops retailer. 37000 sq. ft. lot with great parking, 12,000 ft. main plus 5000 ft. up, comprehensive C-6 zoning allows many uses, priced for quick sale at $899,000, currently vacant.
www.westerninvestor.com MAY 2012WESTERN INVESTOR
Acreages
Court Ordered Sales
Investment Properties
UÊÊǙÇ{ĂŠ -ˆÂ?Ă›iÀÊ -ĂŒ>ÀÊ ,Âœ>`]ĂŠ 6iĂ€Â˜ÂœÂ˜ĂŠ ‡Ê {äÊ >VĂ€iĂƒĂŠ ĂœÂˆĂŒÂ…ĂŠ UÊÊÇÊ Â?ÂœĂŒĂŠ Ă€iĂƒÂˆ`iÂ˜ĂŒÂˆ>Â?ĂŠ ĂƒĂ•L`ÂˆĂ›ÂˆĂƒÂˆÂœÂ˜ĂŠ Â,Ă“ĂŠ ‡Ê Ă•ÂŤÂ?iĂ?ĂŠ UĂŠĂŠĂˆĂ‡Ă¤nĂŠ i˜˜iÀÊ -ĂŒĂ€iiĂŒ]ĂŠ -Փ“iĂ€Â?>˜`ĂŠ ‡Ê xĂˆĂŠ >VĂ€iĂƒĂŠ >ÂŤÂŤĂ€ÂœĂ›>Â?ĂŠ vÂœĂ€ĂŠ ĂƒĂ•L`ÂˆĂ›ÂˆĂƒÂˆÂœÂ˜ĂŠ ÂˆÂ˜ĂŒÂœĂŠ ÇÊ iĂƒĂŒ>ĂŒiĂŠ Â?ÂœĂŒĂƒĂŠ ĂœÂˆĂŒÂ…ĂŠ Ă˘ÂœÂ˜ÂˆÂ˜}ÂŽĂŠÂˆÂ˜ĂŠ7iĂƒĂŒĂŠ iÂ?ÂœĂœÂ˜>ĂŠĂœÂˆĂŒÂ…ĂŠÂ?>ÂŽiĂŠĂ›ÂˆiĂœĂƒĂŠÂ˜i>ÀÊ ÂœvĂŠ ĂƒÂœĂ•ĂŒÂ…ĂŠ v>Vˆ˜}ĂŠ ĂƒÂ?ÂœÂŤiĂŠ ÂœvviĂ€ÂˆÂ˜}ĂŠ ÂŤ>Â˜ÂœĂ€>“ˆVĂŠ "ÂŽ>˜>}>Â˜ĂŠ Â?>ÂŽiĂŠ >˜`ĂŠ Ă›>Â?Â?iÞÊ Ă›ÂˆiĂœĂƒÂ°ĂŠ *iĂ€viVĂŒĂŠ vÂœĂ€ĂŠ >ĂŠ ÂŤ>Â˜ÂœĂ€>“ˆVĂŠÂ?>ÂŽi]ĂŠVÂˆĂŒĂžĂŠ>˜`ĂŠĂ›>Â?Â?iĂžĂŠĂ›ÂˆiĂœĂƒ ÂˆĂƒĂƒÂˆÂœÂ˜ĂŠ ˆÂ?Â?ĂŠ7ˆ˜iÀÞ ÂŤĂ€ÂˆĂ›>ĂŒiĂŠiĂƒĂŒ>ĂŒiĂŠĂœÂˆĂŒÂ…ĂŠÂŤÂœĂŒiÂ˜ĂŒÂˆ>Â?ĂŠĂ›ÂˆÂ˜iĂž>Ă€`ĂŠ>Ă€i>Ăƒ UÊÊ£Ç{äÊ "ĂŠ ,Âœ>`]ĂŠ iÂ?ÂœĂœÂ˜>°Ê ĂŠ ‡Ê ™°ÓÊ >VĂ€iĂŠ Ă›>V>Â˜ĂŒĂŠ UĂŠĂŠ ÂœĂ•ĂŒÂˆÂľĂ•iĂŠ>ÂŤ>Ă€ĂŒÂ“iÂ˜ĂŒĂŠÂ…ÂœĂŒiÂ?\Ê£äÊvĂ•Ă€Â˜ÂˆĂƒÂ…i`ĂŠĂƒĂŒĂ•`ÂˆÂœĂŠ ĂƒĂ•ÂˆĂŒiĂƒĂŠ ³Ê >ĂŠ ĂŽĂŠ L`À“Ê ÂŤiÂ˜ĂŒÂ…ÂœĂ•ĂƒiĂŠ ÂˆÂ˜ĂŠ ĂƒÂœĂ•}Â…ĂŒĂŠ >vĂŒiÀÊ UĂŠĂŠxĂ“Ă“xĂŠ ˆ}Â…Ăœ>ÞʙÇÊ ]ĂŠ iÂ?ÂœĂœÂ˜>ʇÊÎÊ>VĂ€iĂƒĂŠĂœÂˆĂŒÂ…ĂŠ{ĂˆÂ™ĂŠ ÂŤ>Ă€ViÂ?ĂŠ ViÂ˜ĂŒĂ€>Â?Â?ÞÊ Â?ÂœV>ĂŒi`ĂŠ ÂˆÂ˜ĂŠ ĂŒÂ…iĂŠ ÂˆĂƒĂƒÂˆÂœÂ˜ĂŠ >Ă€i>ĂŠ ÂœvĂŠ iÂ?ÂœĂœÂ˜>ĂŠĂœÂˆĂŒÂ…ĂŠÂœĂ›iÀÊÇääÊviiĂŒĂŠÂœvĂŠĂ€Âœ>`ĂŠvĂ€ÂœÂ˜ĂŒ>}iĂŠÂœÂ˜ĂŠ ÂœĂœiÀÊ ÂˆĂƒĂƒÂˆÂœÂ˜]ĂŠ iÂ?ÂœĂœÂ˜>]ĂŠL>VŽˆ˜}ĂŠÂœÂ˜ĂŒÂœĂŠ ÂˆĂƒĂƒÂˆÂœÂ˜ĂŠ viiĂŒĂŠ ÂœvĂŠ vĂ€ÂœÂ˜ĂŒ>}i]ĂŠ ˜œ˜‡ ,ĂŠ Â?>˜`ĂŠ ˜i>ÀÊ iÂ?ÂœĂœÂ˜>ĂŠ Ă•ÂŤ}Ă€>`i`ĂŠ {ĂŠ Â?>˜iĂŠ Ă€Âœ>`ĂŠ VÕÀÀiÂ˜ĂŒÂ?ÞÊ ÂˆÂ˜ĂŠ ĂŒÂ…iĂŠ ,ĂŠ >˜`ĂŠ Ă€iiÂŽĂŠÂœvviĂ€ÂˆÂ˜}ĂŠLÂœ>ĂŒĂŠÂ“ÂœÂœĂ€>}iĂŠ>˜`ĂŠi>ĂƒĂžĂŠ>VViĂƒĂƒĂŠĂŒÂœĂŠ Â˜ĂŒiĂ€Â˜>ĂŒÂˆÂœÂ˜>Â?ĂŠ ÂˆĂ€ÂŤÂœĂ€ĂŒĂŠ>˜`ĂŠ1 " "ÂŽ>˜>}>Â˜ĂŠ >ÂŽiĂŠÂ-iÂ?Â?iÀʓ>ĂžĂŠÂŤĂ€ÂœĂ›Âˆ`iĂŠw˜>˜Vˆ˜}ÂŽ v>À“i` UĂŠĂŠx™{{]ĂŠx™{nĂŠEĂŠxÂ™ĂˆnĂŠ ˆ}Â…Ăœ>ÞʙÇÊ-]ĂŠ*i>VÂ…Â?>˜`ʇÊ UĂŠĂŠ ˆ}Â…ĂŒĂŠ ˜`Ă•ĂƒĂŒĂ€Âˆ>Â?ĂŠ-ĂŒĂ€>ĂŒ>ĂŠ1Â˜ÂˆĂŒĂŠÂˆÂ˜ĂŠ7iĂƒĂŒĂŠ iÂ?ÂœĂœÂ˜>ʇÊ “Representing Buyers looking for ΰäÇÊ>VĂ€iĂƒĂŠÂœvĂŠÂŤĂ€ÂˆÂ“iĂŠÂ…Âˆ}Â…Ăœ>ÞÊ`iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒĂŠÂ?>˜`ĂŠ ÂŁ]ĂŽÂ™Â™ĂŠĂƒv]ÊÓäÊvĂŒĂŠViˆÂ?ˆ˜}]ĂŠÂŁĂ“ĂŠĂ?ĂŠÂŁ{ĂŠĂƒÂˆÂ˜}Â?iĂŠÂœĂ‰Â…ĂŠ`ÂœÂœĂ€]ĂŠ Apartment, Manufactured Home Park >VĂ€ÂœĂƒĂƒĂŠvĂ€ÂœÂ“ĂŠ"ÂŽ>˜>}>Â˜ĂŠ >ÂŽi ViÂ˜ĂŒĂ€>Â?ĂŠÂ?ÂœV>ĂŒÂˆÂœÂ˜ and Mini-Warehouse Propertiesâ€?
Ken McClelland RE/MAX Kamloops s KPMAC SHAW CA www.keninkamloops.com
Tim Down AACI, P. App, CAE, RI(BC) "Professionalism You Can Trust"
Cell: 250-864-9140 Toll: 1-800-367-3339 tim@timdown.ca www.timdown.ca RE/MAX Kelowna Westside
ALLAN TAYLOR RE/MAX REALTY SOLUTIONS
CELL: 250.498.9886 www.allantaylor.ca
COMMERCIAL INVESTMENT Corner Lot
TF: 866.495.7441 allantaylor@remax.net
VINEYARD - SPECTACULAR VIEWS Incredible Views
$469,000
UĂŠ-Ă•ÂŤiĂ€LĂŠ ÂœV>ĂŒÂˆÂœÂ˜ĂŠqĂŠ/ÂœĂœÂ˜ĂŠ iÂ˜ĂŒĂ€i UĂŠ ‡£Ê<œ˜ˆ˜}ĂŠqĂŠ ÂœĂ€Â˜iÀÊ ÂœĂŒ UĂŠ Ă•Â?ĂŒÂˆĂŠ1ĂƒiĂŠqĂŠ,iĂƒĂŒ>Ă•Ă€>Â˜ĂŒ]ĂŠ"vwĂŠVi]ĂŠiĂŒV°
COMMERCIAL BUILDING Lakefront
$2,388,000
UĂŠÂŁĂŽÂ°ĂˆĂŠ VĂ€iĂƒĂŠqĂŠ iĂ€Â?ÂœĂŒ]ĂŠ-Â…ÂˆĂ€>â UĂŠ Ă€i>ĂŒĂŠ,iĂ›iÂ˜Ă•iĂŠ*Ă€ÂœÂŤiĂ€ĂŒĂž UĂŠĂŠ >ĂƒĂŒĂŠ i˜VÂ…ĂŠqĂŠĂ“]ĂˆĂ¤Ă¤ĂŠ- ĂŠ œ“i]ĂŠ Ă“Â˜`ĂŠ œ“i
6-BAY WAREHOUSE Lake Views
LAKESHORE ESTATE LOT
LAKESHORE ESTATE LOT
• $1,600,000 • Spectacular 21 acre lake shore estate lot overlooking Kalamalka Lake. • Private boat moorage and Boltess Creek running through the property. • Call Norm Brenner for all the details: 250-549-9401 • www.okanaganlands.com
• $1,750,000 • 7.9 acre lakeshore estate property. • Fantastic view overlooking Kalamalka Lake. Moorage in place. • Located in area of other estate properties. • 30 mins to Kelowna airport. 10 mins to Predator Ridge Golf Course. • Contact Norm Brenner for details 250-549-9401 or go to www.okanaganlands.com
LAKESHORE LOT • • • • •
$1,200,000 Sloping Lakeshore lot on quiet no thru street 150 ft. licenced dock (2008) Ideal spot located on Okanagan Lake www.okanaganlands.com
COLD WINE AND BEER STORE
$799,000
UĂŠ Ă€i>ĂŒĂŠ*ÂœĂŒiÂ˜ĂŒÂˆ>Â? UĂŠ*>Ă€ĂŒĂŠÂœvĂŠ,iVĂ€i>ĂŒÂˆÂœÂ˜>Â?ĂŠ iÛ° UĂŠ œ˜v°Ê iÂ˜ĂŒĂ€i]ĂŠ-ÂŤ>]ĂŠĂ“ĂŠ i`ĂŠ-Ă•ÂˆĂŒi
PROFITABLE BUSINESS
$845,000
UĂŠ Â?Â“ÂœĂƒĂŒĂŠ iĂœĂŠqĂŠ-ĂŒiiÂ?ĂŠ ÂœÂ˜ĂƒĂŒĂ€Ă•VĂŒÂˆÂœÂ˜ UĂŠ >ĂƒĂžĂŠ VViĂƒĂƒĂŠqÊÓÓ¿Ê iˆÂ?ˆ˜}Ăƒ UĂŠĂ“ĂŠ `À“Ê >˜>}iĂ€ÂżĂƒĂŠ-Ă•ÂˆĂŒi
GREAT OPPORTUNITY Lakeshore Drive
2 Business in 1
$230,000
UĂŠĂŠ Ă€i>ĂŒĂŠ,iĂ›iÂ˜Ă•iĂƒĂŠqĂŠ-ˆ}Â˜ĂŠEĂŠ Âœ}ÂœĂŠ -ĂŒÂˆĂŒVÂ…ĂŠ Ă•ĂƒÂ° UĂŠ Ă?ViÂ?Â?iÂ˜ĂŒĂŠ Ă€ÂœĂœĂŒÂ…ĂŠ*ÂœĂŒiÂ˜ĂŒÂˆ>Â? UĂŠ Ă•ÂˆÂ?`ˆ˜}ĂŠ Ă›>ˆÂ?>LÂ?iĂŠ ĂƒĂŠ7iÂ?Â?
$1,500,000 Lumby’s only private wine, beer and liquor store Good location Room for expansion of store or other service retail development • Excellent investment showing stable long term sales • Contact Norm Brenner at 250-549-9401 • More details at www.okanaganlands.com • • • •
PUB $800,000 Highly visible highway location Lumby’s only privately owned pub Licensed to seat 127 Ideal for family business Dormant wine and beer store license may be purchased separately • Well managed and in above average condition • More details at www.okanaganlands.com • • • • • •
$2,995,000
UĂŠ*Ă€ÂˆÂ“iĂŠĂŽĂŠ VĂ€iĂŠ-ÂˆĂŒi UĂŠ i>Ă•ĂŒÂˆvĂ•Â?ĂŠ >ÂŽiĂŠ6ˆiĂœĂƒ UĂŠ-i“ˆ‡7>ĂŒiĂ€vĂ€ÂœÂ˜ĂŒĂŠĂ‰ĂŠ ‡{ĂŠ<œ˜ˆ˜}
OSOYOOS
NORM BRENNER PERSONAL REAL ESTATE CORPORATION
250-549-9401 norm@okanaganlands.com www.okanaganlands.com
B7
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
REGIONAL ROUNDUP End of HST sparks recreational revival in Kelowna and across Central Okanagan
1FBDIFT BOE CFBDIFT SUSAN M. BOYCE WESTERN INVESTOR ometimes called the “Land of Peaches and Beaches,� the Central Okanagan is home to a thriving wine industry, a diverse array of four-season recreational opportunities and a temperate climate blessed with plenty of sunshine. Small wonder generation after generation has considered this part of British Columbia a vacation wonderland.
Although hard hit by the economic downturn of 2007-08, today Kelowna and the Central Okanagan are claiming a renewed sense of optimism; and, while some industry insiders temper it to “a cautious optimism,� many are clearly excited and enthusiastic about the year ahead. “In 2010 the City of Kelowna undertook a comparative study of 15 major cities, and Kelowna not only came in second in the number of building permits issued but, more importantly, we came in second in the dollar value of permits issued,� said Corie Griffiths, business development officer for theCentral Okanagan Economic Development Commission. “The Canadian Federation of Independent Business also named us the number one place for entrepreneurs in B.C. and one of the top places in Canada,� Griffiths said, adding she believes the area’s many creative, tech-savvy businesses are significant drivers of these results. “We have a unique asset base that communicates globally, and it’s this creative class that’s one of our greatest strengths.� While Griffiths acknowledges Kelowna’s median housing prices may appear high, she stresses there’s a significant difference in the cost of owning a home in the Central Okanagan versus an equivalent dwelling in Vancouver. “It’s important to recognize that 44 per cent of the people who own a home within the
Photo; JF Bergeron/Tourism BC
4
Wineries and Okanagan Lake at Westbank near Kelowna: ranked among top spots for Canadian investors.
Kelowna CMA do not have a mortgage.â€? And it’s not only out-of-town buyers who The recently revealed HST transition rules are getting out their chequebooks and getting have also had an immediate and dramatic off the fence. impact on the Okanagan’s stalled condo/resort “I believe now is the perfect time to buy into market. the Okanagan market,â€? said Vince Taylor, partner at Pilothouse Real Estate Inc., the )45 FOEFE company that masterminded the wildly suc“The new $850,000 HST rebate threshold on cessful one-day receivership sellout at Tuscany recreational properties and second homes locat- Villas. ed outside the GVRD and CRD was like draw- “The fabulous lakes, pristine mountains and ing a bull’s eye around the Okanagan and the unparalleled lifestyles that our various comarea surrounding Victoria on Vancouver Island, munities have to offer have not gone away,â€? then marking them with a “buy hereâ€? sign, said he added. “Tuscany Villas was an indication a delighted Renee Wasylyk, president of the Kelowna buyers are still out there and are Kelowna chapter of the Urban Development anxious to stay in the community they love ‌ Institute and CEO of Troika Group. if given good options. I think Tuscany repre“Since the announcement we’ve seen the sented a turning point in awareness of market activity in sales centres explode. The ripple conditions and signalled a turn in the Okanagan effect is huge. We’ve written more contracts market in general.â€? Taylor adds it’s his view the cause of the this March, after the threshold was raised, than in the previous four Marches combined.â€? past few years’ decline is “glaring and obvious
with hindsight. The collapse of the U.S. market and U.S. dollar, the collapse of the Alberta tarsands business and corresponding erosion of the Calgary and Edmonton cash pipeline to B.C.’s recreational markets, and over-heated prices. Now, we’re seeing the U.S. slowly rebound, Alberta again in full swing and prices in Vancouver exceeding the highs of 2007 – this all bodes well for the Okanagan.� However, he cautions new developments will need to respond to customer needs and ability to pay. “Grade A waterfront still costs between $7,000 and $10,000 per foot in the Central Okanagan. A million dollars for 100 feet doesn’t sound like a depressed market to me.� Randy Shier, principal of the Mission Group, agrees. “Nothing has changed about this destination. We hit an economic downturn and many Canadians put the decision to purchase on hold – especially the Albertans who were put off by the HST. Now we have transition rules in place, they’re coming back. I’d estimate the Alberta market is now 5 to 10 per cent of our business.� Shier also notes there are exceptional values to be found for those who act now. “Unlike other urban markets that have posted yearover-year pricing gains, Kelowna has held relatively stable. But we’re on the cusp now. More traffic in sales centres translates into more offers. We’re already seeing existing inventory dwindling and predictions suggest supply from 2007-08 will soon be completely absorbed.� He adds that for the first time in some years Mission Group is totally sold out of condominium product, although it has two new townhouse projects underway: Winsome Hill and Dwell.
+PC HSPXUI
Paul Fabris, senior market analyst with Canada Mortgage and Housing Corp. in Kelowna, predicts the local housing market can expect to see modest housing-price
Please see Confidence page B8
*OUFSJPS #SJUJTI $PMVNCJB
FAMILY RESTAURANT BUSINESS FOR SALE
Vernon B.C. Investment Opportunity
Brand New Quality Built 2 & 3 Bedroom Luxury Condos t 9 </8>+6 </=><3->398=m -+=2 G9A :9=3>3@/ t '+65 >9 .9A8>9A8 t 38?>/= >9 ,/+-2/=
$1,200,000 East Kootenay, BC One of Southeast BC’s Most Successful Family Owned & Operated Dining In & Catering Will Sell Building as an option 6500 Sq Ft Modern Building
t /8>29?=/= Am =;ML <990 >9: :+>39= Am "m 09< !N 29>\>?, +8. =:/+5/<= t +::63+8-/= t #3816/ 1+<+1/ E =>9<+1/ t /<0/-> 69-5 +8. 6/+@/ t 9A =><+>+ 0//=
Starting $214,900 Ready for Possession Life is good at
For full details contact:
ROSS PRIEST (Owners’ Consultant)
(250) 417-7479 priestross@shaw.ca
Phone: (250) 307-3737 info@okanaganbrownstones.com
B8 Interior British Columbia
Asking $950,000 #ALL STEVE
Subscribe
250-499-5439
CALL NOW 1-800-661-6988 www.westerninvestor.com
2VJDL GBDUT Kamloops
97 97
5
B.C. OKANAGAN
KELOWNA âœŞ 97
Summerland Penticton
,FMPXOB # $ Population 106,700 Area population 120,000 Average house price $456,000 Prime lakefront per foot $7,000-$10,000 Web page: www.kelowna.ca
outbound baggage system, improve the selfservice options and incorporate new ways to reduce energy consumption, including a geothermal system. The final phase will further increase the domestic arrivals level. “Is now a good time to buy a home or a second home in Kelowna? Absolutely,� Wasylyk said. “This is a pivotal period in a fantastic market. Purchase prices are great, interest rates are low and, if you don’t buy now, you’re missing out on an opportunity that’s unlikely to be repeated. It’s just that simple.�◆
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Recreational Real Estate ADVERTISING FEATURE: • Limited spaces • 4-colour ads • Special rates Recreational Real Estate LIFESTYLE PROPERTIES
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RECREATION FEATURE Wealthy investors corral exclusive acreages at Ranches at Elk Park in Kootenays
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Recreational Real Estate LIFESTYLE PROPERTIES
FOR SALE - On Bird River, MB
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erhaps the strongest evidence of a recovery in the Kootenay recreational market is the sale of ranchsized acreages at the exclusive Ranches at Elk Park just outside of Radium Hot Springs. Prices range to nearly $3 million – and that is just for the land. “We have sold two lots and we have holds on two others,� said Rudy Nielsen, founder and president of Niho Land & Cattle Company, which is marketing the ranches through its subsidiary LandQuest Realty. Prices roam from $9,000 per acre for small parcels to around $2,100 per acre for 400-acre and larger ranches. The 3,500 acres at Elk Park, a gated ranch community and perhaps the only one in B.C., are divided into 16 ranches, from 36 acres to 480 acres. The two lots that sold – one to a retired Edmonton oil executive – are both in the 100acre size, as are the two with pending sales. The Ranches at Elk Park are what Nielsen calls a “rare collection� of recreational private estate properties. The ranches are framed by Kootenay National Park and the Columbia Valley and prices range from $390,000 to $2.95 million for 200 plus acres with a lake. “This is a very exclusive opportunity,� said Nielsen, 70, B.C.’s most prolific land dealer. In the last 40 years, he’s put together thousands of successful real estate deals, involving tens of thousands of acres, from small plots to ocean islands, to entire town sites and huge farms
Photo: LandQuest
1
Ranches at Elk Park: 200 acres with a private lake listed for $2.95 million.
and ranches. “There’s nothing else like this in British Columbia. South of the border, in places like Montana, similar ranch-style communities are far less pristine and their prices are much steeper.� Calgary-based Schickedanz West, the owner of the Ranches project, is adding a comprehensive amenity centre outside the access point with fitness facilities and a private owners’ lounge, Nielsen said. He credited owner Fred Schickedanz for having the vision and patience to create “one of the best recreational ranch developments I have seen in a long time.� Nielsen said buyers are a mix of permanent residents and seasonal owners who plan to
ARIZONA Investment Property For Sale ACQUIRE REALTY
623-853-7765 Toll &REE s WWW !CQUIRE!: COM
eventually retire to the property. They share an common appreciation of nature, outdoor adventure, horse-back riding, hobby ranching and getting away from it all, “without going too far or spending too much.� Some of the ranches are lakefront, others have valley views and all have the security and privacy only big money can buy: there is only one access road and it is protected by a controlled locked main gate.
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The success of Elk Park is likely cheered by other land and recreational vendors in the Kootenays, especially since it heralds the return of Alberta investors. In 2007, Albertans were big in the Kootenay
area, grabbing more than 2,000 residential properties and more than 600 plots of vacant land, with the Columbia Valley figuring large. With the BC/Alberta border so close to Calgary, the Kootenays were a natural lure. Then the oilfueled global economy stalled and Albertans went quiet; in 2010 Albertan purchases were off by more than 70 percent or 756 sales of residential properties. However, with the global economy swinging back and oil now north of US$100 a barrel Nielsen expects a resurgence of Alberta buyers into the Kootenays. “Our sales team says the number and quality of calls coming out of Alberta has increased substantially, compared to anytime from mid2008 to late 2010, “ Nielsen said. A recent survey by the Royal Bank forecasts Alberta will lead the entire country in economic growth this year and next, and likely into the next decade. One telling stat: the average weekly wage in Alberta is $1,036 a week, almost one-third higher than the rest of Canada. And Albertans traditionally look to B.C. for recreational property. “You can golf, ski, and catch a large rainbow trout, all in one day in the Kootenays,� Nielsen said. He notes that the ski hills of Panorama Ridge near Invermere and the amenities of Fairmont Hot Springs are close by Elk Park, with almost two-dozen golf courses within a 30-minute drive. Nielsen said The Ranches will attract a select type of buyer. “The price range is for individuals with a pioneering spirit ready to embrace a rare opportunity to own their own private ranch right at the foot of the Rocky Mountains.�◆
Far from the Madding Crowd
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FOR SALE AUTOMOTIVE PARTS STORE KITIMAT, B.C.
Why Harrison?
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ARMLS Residential All Areas and Types Sold Price: $62,000 Rent: $895 City: Avondale 9EAR "UILT Square Feet: 1,255
Sold Price: $64,000 Rent: $850 City: El Mirage 9EAR "UILT Square Feet: 1,495
Virtual tour at www.6565-rockwell.ca
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Acquire Realty is family owned and operated with over 30 years of Real Estate experience. Contact us for Foreclosure or Short Sale Listings in Phoenix, Scottsdale, Fountain Hills, Surprise, 'OODYEAR AND 3URROUNDING !REAS 7E WOULD LOVE TO HELP YOU ďŹ nd your vacation home or investment property.
Sold Price: $61,500 Rent: $925 City: Avondale 9EAR "UILT Square Feet: 1,197
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Gerri SaundersĂŠJĂŠ(250) 632-2107ĂŠÂœĂ€ĂŠ(250) 632-6638
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Sold Price: $60,300 Rent: $895 City: Glendale 9EAR "UILT Square Feet: 1,278
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Here are twelve of the homes we’ve sold over the past few months which are all within a 30 minute drive from downtown Phoenix. We even offer property management for our clients.
Sold Price: $52,00 Rent: $825 City: Phoenix 9EAR "UILT Square Feet: 1,343
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Contact us to start your portfolio today.
Sold Price: $51,900 Rent: $850 City: Tolleson 9EAR "UILT Square Feet: 1,423
OfďŹ ce: 604-888-0786 Email: annabelyoung@shaw.ca
Nestled against Southwestern British Columbia’s magniďŹ cent mountains and the sandy beaches of Harrison Lake, Harrison Village is your local destination ďŹ lled with a rich history and natural wonders, including our world famous BC Hot Springs. Known for its leisurely days and friendly ways, offering nature, art, entertainment shopping and food.
INFO !CQUIRE!: COM s 7EST -C$OWELL 2D "LDG # Ste. 305 Avondale, AZ 85323
Phoenix Area
- Exquisite property features the best of the West Coast - Water Front -1.84 acres of high water front - Custom designed house infused with southern light - Spectacular views of the Gulf Islands - Live year round or have a weekend retreat and haven - MLSÂŽ F1118274 $1,075,000
Approximately 80 minutes northeast of Winnipeg on the Bird River. This classic lodge is world famous for trophy bear and deer hunting. Located 1/4 mile from a Department of Transportation certified airport runway. Suitable for church camp, corporate retreat, training centre or private retreat. Commercial kitchen. Games room, sauna & conference room. Thirteen bedrooms, sleeps 27 plus master bedroom & ensuite. Approx. 6900 sq. ft. on +/-2 acres. Asking $1.85M.
Sold Price: $64,000 Rent: $785 #ITY "UCKEYE 9EAR "UILT Square Feet: 1,574
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Avondale - Crystal Gardens Lake Community Newly remodeled home, 1870 square feet, 3 bedrooms plus den, 2 baths, prime location near shopping and freeway access, would make for a great vacation home or could rent for $1000-$1075 as an investment property.
For Sale: $112,500
Sold Price: $64,125 Rent: $850 City: Phoenix 9EAR "UILT Square Feet: 1,435
Sold Price: $69,000 Rent: $825 City: Phoenix 9EAR "UILT Square Feet: 1,343
Sold Price: $87,000 Rent: $995 City: Laveen 9EAR "UILT Square Feet: 1,763
Sold Price: $105,000 Rent: $1,150 City: Goodyear 9EAR "UILT Square Feet: 2,277
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gains throughout 2012 and into 2013. “The 2011 resale market picked up, plus we’re seeing higher levels of migration and personal employment.� Rising employment is one of the factors Wasylyk says is fuelling the resurgence of consumer confidence. “Yes, we were lacking in that area, but no more. There’s a renewed optimism. Businesses are firing on all cylinders, especially those tapping into the global markets – businesses like Reidco Metal Industries, who went from eight to 85 employees in less than a year. One of our own companies, Rise and Run, has shown a 25 per cent increase in our gross revenues so far this year. Let’s face it: when you start seeing more people getting jobs and/or people with jobs getting raises, it translates directly into renewed consumer confidence.� Two of the newest employment superstars are Kelowna General Hospital (KGH) and Kelowna International Airport. Pumping $880 million into the local economy is an ambitious P3 addition to KGH. The project includes a new 360,000-square-foot patient-care tower with a new emergency department located on the ground floor that’s four times the size of the existing facility. KGH will also become home to a 34,000square-foot clinical academic campus of the University of BC Medical School, which it’s hoped will encourage the next generation of doctors to train and, more importantly, stay
within the Central Okanagan when they take up practice. Interior Health will gain more space and be able to consolidate services. Arguably even more significant is Phase 2, the International Heart and Surgical Project. This will be the province’s first full cardiac center located outside the Lower Mainland or Victoria. When operational, the centre is anticipated to create a minimum of 80 new jobs, increase the survival rate of heart-attack victims to 98 out of 100 and reduce the wait time for angioplasty surgery from almost four days to 12 hours or less. For people who live in Kelowna and the surrounding area it will also eliminate the expense, stress and potentially life-threatening time delay of travelling to Vancouver for surgical procedures. Ranked the ninth-busiest airport in the country, Kelowna International Airport is in the midst of an ongoing multimillion-dollar makeover succinctly named the “Drive to 1.6 Million Passengers Program.� “We are currently at 1.39 million passengers, but we expect to reach 1.6 by 2015 or 2016 and this program will ensure our assets are ready to handle that growth,� said Sam Samaddar, airport director, noting that overall traffic for the first two months of 2012 was already up 4 per cent over 2011 levels. The program will see $50 million invested over five years. Now underway, with a completion estimated for September 2012, Phase 1 will see a new customs hall and increased footprint for the arrivals area of the airport’s international area. Phase 2 will increase the
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BY OWNER RV PARK & CAMPGROUND
$0/'*%&/$& from B7
Ok
FOR SALE
www.westerninvestor.com MAY 2012 WESTERN INVESTOR
604-669-8500 1-800-661-6988 advertise@westerninvestor.com
Northern British Columbia B9
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
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— Your PRINCE GEORGE Commercial Professionals — 490 Carson Ave. – Quesnel, B.C. BUSINESS/BLDG/
1108 Boundary Rd.
‘Wee Chippie Fish & Chips Seafood� BUSINESS
9080 Penn Rd.
5075 Domano Blvd.
9368 Milwaukee Way
FOR LEASE & SALE – 9,000 sq ft cement block building on 2 Acres, fenced compound. 3-Phase Power.
LAND - 3,609 sq ft main oor 120 seat restaurant specializing in authentic English ďŹ sh & chips. 1,559 sq ft second oor living accommodations, may be converted to a banquet facility plus 2,227 sq ft basement.
FOR LEASE – 25,660 sq ft quality warehouse located in the Danson Industrial Park.
FOR SALE – QUESNEL, B.C. Very successful 120 seat main oor restaurant, specializing in authentic English ďŹ sh & chips. Inventory to be purchased separately.
FOR LEASE – Prime College Heights RETAIL/OFFICE space. Visually desirable location. Net Lease.
D L O S
FOR SALE – 31,640 sq ft major fabricating/manufacturing facility (28’ ceilings). Located on 3.74 Acres, fenced yard, cranes, quality ofďŹ ces.
2342 Westwood Dr.
760 Kinsmen Pl.
FOR LEASE – Highly visible 2,371 sq ft prime retail /professional ofďŹ ce space. Abundant parking, property has been completely updated.
FOR LEASE– New ďŹ rst-class building in prime location. Ready for occupancy September 2012. Main oor 4,300 sq ft available and daylight basement 2,000 sq ft. Zoned C-4.
'Sketchley Automotive'
4350 Handlen Rd.
Business FOR SALE – Fully equipped automotive repair business. Owner retiring after 34 years of business. Equipment replacement value $150,000.00. Leased premises.
COURT ORDERED SALE – 5,525 sq ft concrete block building on.99 Acres. Zoned C-6.
1550 – 1st Ave.
Lot #1 Atwood
ONE OF A KIND OPPORTUNITY. 3 concrete block warehouse on 3 Acres. 44,080 sq ft total space. Well maintained with 11 loading doors, 13 O/H doors, 3 phase power & highway access.
FOR SALE – proposed new subdivision. 17 – 4 Acre+ high quality rural residential lots. 78.8 Acres total. Within 14km of the Westgate Shopping Plaza.
2977 Ferry Ave.
1437 N. Fraser Dr. – Quesnel, B.C.
FOR SALE – 0.8 Acres on corner of Ferry Ave. & Ospika Blvd. C-6 zoning.
COURT ORDERED SALE – 38.5 Acre property. 604 sq ft stand along ofďŹ ce. Main 3,498 sq ft concrete block 4 bay truck shop, with 1,628 sq ft addition attached. A 2,160 sq ft storage building with a 648 sq ft wood frame storage shelter. A sand/gravel business historically operated from this site, however no licensing permits have been conďŹ rmed.
www.pgcommercial.ca RE/MAX Centre City Realty Each ofďŹ ce is independently owned and operated
GEORGE Weinand
250-960-9556
KEN Goss
250-565-7653
THINK REAL ESTATE...The Best Investment on Earth
B10 Northern British Columbia Mobile Home Park FOR SALE Fort St John, BC • • • •
100% occupied 90 pads Gross 359,000 Net 225,000
DAWS O N C R E E K
NORTHEAST BC REALTY Ltd.
AJ8G6I>K: 7JH>C:HH DEEDGIJC>I N
“Investing Our Energy In The North�
Well established Towing and Recovery business in Dawson Creek BC. "Exceptional Towing & Recovery Ltd." 150 X 150 Chainlink fenced, grave/asphalt compound, 1 bay heated garage, dispatch/offi ce unit w/services, storage shed. Zoned M-2 Light Industrial. All Equipment included with list available upon request. MLSÂŽ 134219 r Price $895,000 For more info call:
Nyla Lepine & Donna Cooper
$2,890,000
Phone 250 785 4115
Located at 10220 101 Avenue Fort St John BC V1J 2B5 www.NEBCRealty.com
i $134,900
City Center Commercial Lot (services at lot line) 73.5’x122’ Ideal multi-use property MLSŽ N4505054 Fort St John
i $482,500
Multi-Residential Lot (up to 25 units) 146.6’x150’ close to major public and commercial amenities MLSŽ N4505280 Fort St John
5.73 acre Industrial Land (great location for office/yard) Close to City amenities LESS CITY TAXES! Modular on site. MLSÂŽ N4505213 Fort St John
20-25%+ ROI/Cash on Cash!
8-Plex for Sale - $549,900 Turn Key, fully managed unbelievable Investment opportunity in
KITIMAT! THE NEXT FORT MAC!
along Alaska Highway frontage. WITHIN CITY LIMITS! (Rare find)
Prince George
DAWSON
EMAIL: jvdevgroup@gmail.com
CREEK
www.dawsoncreekrealestate.ca
LLOYD SMITH 250-784-7116 lloydsmith@shawcable.com
RE/MAX DAWSON CREEK REALTY 1-888-214-5871 DAWSON CREEK COMMERCIAL EXPERTS
Don’t miss this opportunity . . . Invest in a waterfront lifestyle today! Zoned for rec/res development - not in the ALR
26 acres, approx 1450’ of lakefront 55 acres, approx 1650’ of lakefront
#135870: HIGHWAY FRONTAGE - Great visibility on this. 1.077 acre Industrial lot located on highway #2, all City services available. New developments in this area and this is the only lot left for sale along the highway Asking $159,000
$295,000 $495,000
#130083 - Popular new restaurant (Brown’s Social Club) now open and Pizza Hut coming soon, lots of parking.
7.32 ac along the Nechako River $545,000 zoned res - not in the ALR - subdividable approx 460’ of riverfront, nicely treed easy access to downtown & UNBC Riverfront Townhome site $500,000 1.76 acres - approx 263’ of riverfront zoned RM1 - multiple residential preliminary drawings for 13 townhomes Prime, high profile location $739,000 Hwy access near Costco & Future Shop 3664 sq ft building on 1/2 acre lot zoned M3 - Business Industrial For Sale or Lease $575,000 9630 sf on 3 levels, separate entrances completely refurbished since 2006 ideal for retail, design & professional offices
Elaine Kienzle CALL 604-725-4872 or 250-826-2284
MLSÂŽ V4022639 Fort St John
MLSÂŽ N4504968 Fort St John
TOM MORAN 250-784-7090 tommoran@shaw.ca
Asking $1.45 Million
Exclusive Chetwynd
High Density Residential Development Opportunity
i $1.68 Million 3.01 Acre Commercial Land & Business
36.36 Acre Land
39,200sf Commercial Lot (just under 1 acre) Excellent corner location along highway entrance to community.
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Opening June 2012
i $468,000
i $589,000
DAWSON CREEK REALTY 250-782-8181 “independently owned and operated�
Š2010—2012
NEW REGIONAL HOSPITAL & RESIDENTIAL CARE SITE
83’x120’ Commercial Lot HIGHLY VISIBLE Along Main Street Dawson Creek. Close to WalMart, Gaming Center, Retail Strip Malls & more. MLSŽ N4504965 Dawson Creek
nyla@shawcable.com donnacooper@remax.net DONNAANDNYLA.CA
NEBC
F: 250 785 4120
RON RODGERS - OWNER / MANAGING BROKER Email: ron@northeastbc.com
i $468,000
250-784-4044
talltimbermhp@yahoo.ca
www.westerninvestor.com MAY 2012WESTERN INVESTOR
250
563-8769
www.elainekienzle.com
FOR LEASE 3200 SQ FT SHOP with an additional 1680 sq ft of office are on upper floor. 2 doors 12x14 into 40x40 shop. Zoned M2 (light industrial) on .23 of an acre. Asking $16.00/sq ft. #131876, 130050, 131875 - HIGHWAY COMMERCIAL/INDUSTRIAL LAND Situated across from the EnCana event centre, Chances casino and new Holiday Inn this is a very desirable location. Total of three lots each approx 4.5 acres each, excellent visibility and access. Priced at $450,000 - $500,000 each
FOR SALE OR LEASE 5040 sq ft building on busy
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Alaska Ave. Many uses, drive thru availability, lots of parking, next to government liquor store. Owner will consider dividing building into two rental units. Priced at $795,000 or $16.00 per sq ft to lease.
#132673 - In the centre of the City close to the traffic circle on Alaska Highway...1.55 acres of flat land with all new services to the property and bordered by 8th street and the paved roadway to the new apartment building. Excellent location, commercially zoned, will builld to suit.
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$290,000
#129952 - FOR SALE OR LEASE Multi purpose building with 2 units now leased leaving 11,000 sq ft. available. Upgrades include updated roof and furnaces Asking price is just $397,000 #130029 RETAIL STOREFRONT on 102nd Ave. for sale, 3500 sq. ft on a corner location, paved parking, good visibility can be used for ofďŹ ce, retail, or your own small business. Owner will consider leasing as well. Reduced to $119,000 as is
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#130010 - WELDING / MACHINE SHOP for sale Includes 12’ door, 13’ ceilings, 3 phase power, 23o Volt/400 amp service. Gravel yard, 100 sq. ft. ofďŹ ce with shower & bathroom. Fire hydrant, 2 overhead cranes. $220,000
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#129257: THE SOUTH PEACE UNITED CHURCH IS FOR SALE. OVER 11,000 SQ. FT. - Sanctuary, hall, kitchen, ofďŹ ces, and support services. Excellent corner location, zoned commercial, very good condition, ready for an ofďŹ ce or residential conversion. $495,000 #133401 - BUSINESS OPPORTUNITY located on the east side of Dawson Creek. Belsum Auto Recyclers Ltd has a proven track record and shows a good return. Includes 6.5 acres of prime industrial land on Hwy #49, a heated main shop with 3200 sq.ft. and an adjoining 2400 sq. ft. building used for stripping vehicles. Lots of inventory, and equipment includes 3 forklifts and a skid steer. Asking $1,200,000 for the land, buildings, and turnkey business with inventory.
#129953 - RETAIL BUILDING Great location on 10th St over 3,000 sq ft on main and additional 3,000 sq ft on second floor, located next to Scotia Bank. Ground floor now leased out to only video rental
#133128: NEW STRIP MALL has 4 available spaces left for lease, 1,750 sq ft each. Great location on 8th street between Tim Horton’s & The Brick. Lease rates start as low as $16/sq. ft. Start your business here. Strip mall is 10,000 sq. ft.
company in Dawson Creek. Asking price of $375,000
Also for sale at $1,800,000
L A N D #129635: RESIDENTIAL DEVELOPMENT LANDS, one parcel of 25 acres on the north west edge of Dawson Creek for sale, superb location for residential homes, the timing is right as we need more residential lots for our busy market place. Asking $625,000
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#129877: ONE ACRE OF MULTIPLE RESIDENTIAL LAND suitable for 37 unit apartment or condo complex. Across from the hospital in a prime residential area of Dawson Creek. $179,000 #127836: SUBDIVISION FOR MOBILE HOMES! Total of 39 mobile lots are possible on this 4.6 acres, zoning in place, some services are already in, 3 lots have been subdivided. Call for more info. Asking $300,000 #127441: 80 ACRES OF INDUSTRIAL LAND with highway frontage, railway tracks, water and sewer in the City of Dawson Creek. Asking $31,250 per acre
#135241: COMMERCIAL LAND NEXT TO THE GOLF COURSE. Great location and potential! 10.33 acres that are zoned C-3 (highway commercial) between the driving range and regional district offices, close to a large campground. Lots of options, borders the Alaska Highway. $1,800,000 WILL BUILD TO SUIT - AIRPORT ONE ACRE LOTS Developer has 3 one acre lots in a row at the airport with highway frontage...will build a 5000 - 7,000 sq, ft. pre-engineered steel shop, provide a graveled and fenced yard with a 5 year lease starting at $ 14.00 per sq. ft. for the shell. Also willing to build and sell to tenant. One lot now leased and sold. Only 2 left! #127066: LOCATION, LOCATION, LOCATION 0.74 acres at the intersection of 17 Street and Alaska Highway. Ideal location for strip mall, service station, etc. $295,000
Northern British Columbia B11
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
retail, industrial and multi-residential apartment – there’s just not enough product to satisfy demand,” said Ken Cloak, Colliers Victoria associate vice-president and multifamily specialist. The Colliers report noted that last year there were 12 apartment-building sales for owell River residents and current total sales of $46 million, down from 2010’s and pensioned mill employees are 22 sales totalling $98.5 million. The 10-year waiting to hear the fate of the town’s average is around $56 million. largest employer as Catalyst Paper “The only meaningful thing about that is Corp. seeks a $395 million restruche proposed and long-debated $1 billion we didn’t see any portfolio trades in 2011,” turing plan. Catalyst has been under Jumbo Alpine Ski Resort development Companies’ Creditors Arrangement Act 57 kilometres west of Invermere in the West said Cloak. Of the 12 large sales last year, the biggest (CCAA) creditor protection since late Kootenays has won approval from the provwas the 72-unit Westside Apartments (now January. ince, confirms Steve Thompson, minister Catalyst, whose restructuring plan of forests, lands and natural resource opera- Olympic View Terrace) at 885 Craigflower Road, which sold for $7.9 million in October. faced a creditor vote in late April, has tions . already shut down its pulp mill in “After more than 20 years of comprehensive Other big sales included the 64-unit Quadra Villa at 2835 Quadra Street, sold for $6.7 milCampbell River and is seeking court Powell River’s troubled Catalyst pulp mill. and exhaustive reviews, it was time to make approval to sell its remaining B.C. mills in Powell River and Crofton to the highest bidder, if a decision. I approved Jumbo Glacier Resort’s lion in June, and the 43-unit Don Quadra at 3244 Quadra Street, sold for $5.3 million. the restructuring plan fails. master development agreement after reviewCloak said the only thing helping the vacanRetired salaried employees of Catalyst stand to lose a substantial portion of their pensions ing all of the relevant documentation and if the company’s plan fails. meeting with both First Nations and the pro- cy issue is investment in condominium projects. He said investors are buying now while The company and its noteholders have put forward a sales and investor solicitation process, ponent,” said Thomson in a statement. interest rates are low and renting the suites. which includes a “stalking horse bid,” rumoured to be from a bond holder. This means some The province says the project will attract noteholders are prepared to become the new owners – and sellers – of the company. $900 million in investment and create 750 “All of us hope very strongly that Catalyst management is able to sail through this credipermanent jobs. tor protection and continue their operations,” said Jim Donnelly, who was the investment Once complete, Jumbo will feature up to recovery manager at the Powell River division before he retired in 2007. “If they do, then 23 lifts, a 3,000-metre-high gondola and a this is not a problem to any of us.” ski village with more than 6,000 units. The But if the company doesn’t sail through, Donnelly added, “Our pensions are at risk.” resort will be comparable in size to Silver There are between 1,000 and 1,100 salaried Catalyst pensioners affected by this, including Star in Vernon or about one-tenth the size of orty-six per cent of consumers in the about 200 living in Powell River. Whistler Blackcomb. Lower Mainland think this spring is a “We’re all hoping that [the] company can make it through this,” he said. “But, if it doesn’t, Oberto Oberti, the architect behind the good time to buy a home, according to a the fact remains there are about 1,000 people who stand to lose 40 to 50 per cent of their proposal, hopes to have the first phase up and recent REW.ca consumer confidence survey pension income.” running within two years. done by Mustel Research Group. However, The Superintendent of Pensions has allowed Catalyst relief from making regular contribu42 per cent of consumers disagree, the surtions to the salaried pension plan for several years, Donnelly explained, because the company vey discovered. has pleaded it was in a difficult financial position. “What that’s done is run down the value A combination of record-low mortgage rates of the pension plan, to the point where it’s $73.5 million underfunded,” he said. and record-high home prices has skewed the Donnelly pointed out that the City of Powell River’s mayor and council and the previous traditional active spring market, leaving local mayor and council should be recognized for tax relief to Catalyst and trying to make the consumers split on where the market is headbusiness climate better. Catalyst now has about 300 employees, down about 50 per cent ing. nterest rates may be low, cash readily from a decade ago. Of those who don’t think it is a good time available and buyers lined up, but owners Concerns about Catalyst’s future have affected the housing market, confirmed Warren to buy, nearly half cite high home prices and of Victoria rental apartment buildings are Behan, a veteran Powell River realtor. “Prices have been falling now for four years,” he not eager to sell in a city with a tight 2 per 17 per cent expect prices to correct downward said. As an example, he pointed to a current Coast Realty listing of an oceanview home in in the months ahead. cent vacancy rate. the Westview area priced at $225,000. “You can buy waterfront homes here for less than Meanwhile, a 56 per cent majority of That’s a synopsis of the Victoria multi$500,000,” he said. “There are terrific bargains.” respondents believe now is a good time to residential market, according to Colliers sell a house or condo in the Metro market. Of International’s recent apartment investor this group, 18 per cent point to high prices as will result in dropping prices. overview. the 10-year average for the first quarter the reason to sell this spring, and 17 per cent “And it pretty much applies to all comConsumer uncertainty is reflected in this in both Greater Vancouver and the Fraser mercial real estate product segments – office, believe there will be a market correction that year’s sales figures: housing sales are below Valley.◆ 8)"5¤4 )"11&/*/( */
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Fort St John MUFFLER & AUTO REPAIR BUSINESS $145,000 UÊ µÕ « i ÌÊ> `Ê Ûi Ì ÀÞ UÊ `ÊV ÌÀ>VÌÃÊEÊÃ> ià UÊ -ÁÊ {xäxÎÓÈ
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7000 SQ FT SHOP $575,000 UÊ i>Ìi`ÊÊÊ UÊÊÊ7i ]Ê Þ`À ]Êvi Vi` UÊ >à >Ê ÜÞÊ>VViÃà UÊ -ÁÊ {xäxäÈÈ
27 ACRES RESIDENTIAL $650,000 UÊ Ài>ÌÊ« Ìi Ì > ÊÃÕL` Û Ã UÊ vÊV ÕÀÃiÊ i>ÀLÞ UÊ -ÁÊ Ó£ÎÈÓÓ 31.34 ACRES HIGHWAY FRONT $1,500,000 UÊ{Ê- «É vwÊVià UÊ -ÁÊ {xäxänä
9.14 PRIVATE AIRSTRIP $400,000 UÊÎÊ« > iÊ > }>À UÊ -ÁÊ Ó£ÎÈÓ£ HOUSE & SHOPS Extremely revovated house $950,000 UÊ ÃiÊÌ Ê} vÊV ÕÀÃi UÊ ÝÌÀi iÊÀi Û>Ìi`Ê i UÊ -ÁÊ Ó£ÎÈÓ£
RICK “C” WALTERS > \ rickc@rickcwalters.com * i\Ê250-787-5866
www.rickcwalters.com RE/MAX ACTION REALTY
1850 SQ FT LEASE SPACE
IDEAL FOR SMALL BUSINESS! 9610 - Sikanni Road
8219 – 100 Avenue
2,000 sq. ft. bay w/front reception, offi ce & Mezz. Shop consists of radiant heat, 14’ overhead doors, main door & fl oor drain. If you need 4000 sq ft the adjoining 9612 - Sikanni Rd. (N4505287) is also available.
This building has great access from 100th Street with easy access parking. There are well established businesses in the building bringing traffi c to the location. 1850 square feet includes washroom/shower facilities.
$14.00/ sq. ft. + NNN - MLS# N4505336
$15.00/ sq. ft. + NET - MLS# N4505244
FOR SALE OR LEASE PROSPECT PARK LOCATION
PROSPECT PARK LEASE SPACE 10407 Beaver Road Steel span bldg features over 11,750 sq ft of combined shop/offi ce space, & 11,250 sq ft of cold storage. Located in Prospect Park on a paved street with great access to the Alaska Highway.
$15.00/sq. ft. + NNN
MLS# N4505179
10711 - 91st Ave Updated office space, new windows, doors and updated forced air furnace. 1100 sq. ft. of office space attached to 3250 sq. ft. of shop. + 6500 sq. ft. of additional shop space available. $15.00/sq ft + NNN - MLS# N4505100
5.238 ACRES IN A GREAT LOCATION! Lot 11 - 87A Avenue M-2 zoning, easy access to the East bypass road make this a great place to build a shop and set up business. $1,128,750 MLS# N4505220 Lot 12 also available $1,128,750 MLS# N4505221
INVESTMENT GEM! 4717 - 51 St., Chetwynd Fully occupied w consisted ROI to the owner. Contains established businesses & a fully furnished 2 bdrm apart. Torch on roof in 1999 & new fire system in Jan. 2011.
$1,200,000 - MLS# N4504915
KATHY MILLERCURTIS ROBINSON PERSONAL REAL ESTATE CORPORATION
Remax Action Realty 1991 Inc.
kathy@bugkathymiller.com curtis@remaxaction.ca 250-785-5520 Toll Free : 1-888-785-5520
The Power Of Partnership!
B12 Alberta
www.westerninvestor.com MAY 2012WESTERN INVESTOR
PHO E N IX , ARI Z ON A BELLA SOL - APARTMENT COMPLEX * Two story apartment community built in 1985 * 248 rental units - unit mix 50% one bedrm, 50% two bedrm * Construction - wood & painted stucco * $1,000,000+ in capital improvements * Buildings are individually metered for electricity * Financing Available * Convenient to transporation, shopping & schools
Edmonton area SALE/LEASEBACK - $9,300,000 20 YEAR LEASE with family run business for 66 YEARS with a CAP RATE of 8.7%
$37.00 Price per unit $27,217 Total List price $6,750,000 Price per foot
Colliers HSK Multifamily Specialists Trevor Koskovich Dir +1 602 222 5145 Associate Vice President trevor.koskovich@colliers.com www.colliershskmultifamily.com
4601 - 99 Street, Edmonton AB T6E 4Y1
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 ADVERTISING FEATURE:
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www.westerninvestor.com WESTERN INVESTOR
RECREATION FEATURE Wealthy investors corral exclusive acreages at Ranches at Elk Park in Kootenays
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erhaps the strongest evidence of a recovery in the Kootenay recreational market is the sale of ranchsized acreages at the exclusive Ranches at Elk Park just outside of Radium Hot Springs. Prices range to nearly $3 million – and that is just for the land. “We have sold two lots and we have holds on two others,� said Rudy Nielsen, founder and president of Niho Land & Cattle Company, which is marketing the ranches through its subsidiary LandQuest Realty. Prices roam from $9,000 per acre for small parcels to around $2,100 per acre for 400-acre and larger ranches. The 3,500 acres at Elk Park, a gated ranch community and perhaps the only one in B.C., are divided into 16 ranches, from 36 acres to 480 acres. The two lots that sold – one to a retired Edmonton oil executive – are both in the 100acre size, as are the two with pending sales. The Ranches at Elk Park are what Nielsen calls a “rare collection� of recreational private estate properties. The ranches are framed by Kootenay National Park and the Columbia Valley and prices range from $390,000 to $2.95 million for 200 plus acres with a lake. “This is a very exclusive opportunity,� said Nielsen, 70, B.C.’s most prolific land dealer. In the last 40 years, he’s put together thousands of successful real estate deals, involving tens of thousands of acres, from small plots to ocean islands, to entire town sites and huge farms
Photo: LandQuest
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Ranches at Elk Park: 200 acres with a private lake listed for $2.95 million.
and ranches. “There’s nothing else like this in eventually retire to the property. They share British Columbia. South of the border, in places an common appreciation of nature, outdoor like Montana, similar ranch-style communities adventure, horse-back riding, hobby ranching are far less pristine and their prices are much and getting away from it all, “without going too steeper.� far or spending too much.� Some of the ranches Calgary-based Schickedanz West, the are lakefront, others have valley views and all owner of the Ranches project, is adding a com- have the security and privacy only big money prehensive amenity centre outside the access can buy: there is only one access road and it is point with fitness facilities and a private own- protected by a controlled locked main gate. ers’ lounge, Nielsen said. He credited owner Fred Schickedanz for having the vision and "MCFSUBOT patience to create “one of the best recreation- The success of Elk Park is likely cheered by al ranch developments I have seen www.westerninvestor.com in a long other land andWESTERN recreationalINVESTOR vendors in the time.� Kootenays, especially since it heralds the return Nielsen said buyers are a mix of permanent of Alberta investors. residents and seasonal owners who plan to In 2007, Albertans were big in the Kootenay
ARIZONA Investment Property For Sale ACQUIRE REALTY
623-853-7765 Toll &REE s WWW !CQUIRE!: COM
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Sold Price: $52,00
Sold Price: $60,300
Sold Price: $60,500
9EAR "UILT Square Feet: 1,343
9EAR "UILT Square Feet: 1,278
9EAR "UILT Square Feet: 1,159
ANNABEL YOUNG
Rent: $825 Rent: $895 Rent: $825 - +++ ), '%! " &$ City: Goodyear City: Glendale City: Phoenix
Cell: 604-961-7541
FOR SALE AUTOMOTIVE PARTS STORE KITIMAT, B.C.
ARMLS Residential All Areas and Types Sold Price: $61,500 Rent: $925 City: Avondale 9EAR "UILT Square Feet: 1,197
Sold Price: $62,000 Rent: $895 City: Avondale 9EAR "UILT Square Feet: 1,255
Sold Price: $64,000 Rent: $850 City: El Mirage 9EAR "UILT Square Feet: 1,495
Sold Price: $64,125 Rent: $850 City: Phoenix 9EAR "UILT Square Feet: 1,435
Nestled against Southwestern British Columbia’s magniďŹ cent mountains and the sandy beaches of Harrison Lake, Harrison Village is your local destination ďŹ lled with a rich history and natural wonders, including our world famous BC Hot Springs. Known for its leisurely days and friendly ways, offering nature, art, entertainment shopping and food.
$1,888,000
Sold Price: $105,000 Rent: $1,150 City: Goodyear 9EAR "UILT Square Feet: 2,277
Sold Price: $87,000 Rent: $995 City: Laveen 9EAR "UILT NVTUBOHT!SBODI 73!BDSFT Square Feet: 1,763 %581-111
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Virtual tour at www.6565-rockwell.ca
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Gerri SaundersĂŠJĂŠ(250) 632-2107ĂŠÂœĂ€ĂŠ(250) 632-6638 Sold Price: $69,000 Rent: $825 City: Phoenix 9EAR "UILT Square Feet: 1,343
REALTY (02) LTD.
Why Harrison?
s BEDROOMS BATHROOMS s SQ FT OF LIVING SPACE s SQ FT GUEST SUITE s 3HOWPIECE CAR GARAGE s FEET OF WATERFRONT
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Avondale - Crystal Gardens Lake Community
OfďŹ ce: 604-888-0786 Email: annabelyoung@shaw.ca
Overwhelming Views
Sold Price: $64,000 Rent: $785 #ITY "UCKEYE 9EAR "UILT Square Feet: 1,574
UĂŠ7iÂ?Â?ĂŠiĂƒĂŒ>LÂ?ÂˆĂƒÂ…i` UĂŠ `Â?œˆ˜ˆ˜}Ê£ää½ÊĂ?ĂŠÂŁxä½ÊÂ?ÂœĂŒ UĂŠ*Ă€iĂƒiÂ˜ĂŒÂ?ĂžĂŠĂ“ĂŠĂƒĂŒÂœĂ€ivĂ€ÂœÂ˜ĂŒĂŠĂ€iÂ˜ĂŒ>Â?ĂŠÂˆÂ˜Vœ“i UĂŠ7ÂœĂ•Â?`ĂŠÂ?ˆŽiĂŠĂŒÂœĂŠĂƒiÂ?Â?ĂŠÂŤ>VÂŽ>}iĂŠ`i>Â?
Investment Opportunity
For Sale: $112,500
- Exquisite property features the best of the West Coast - Water Front -1.84 acres of high water front - Custom designed house infused with southern light - Spectacular views of the Gulf Islands - Live year round or have a weekend retreat and haven - MLSÂŽ F1118274 $1,075,000
Bird River. This classic lodge is world famous for trophy bear and deer hunting. Located 1/4 mile from a Department of Transportation certified airport runway. Suitable for church camp, corporate retreat, training centre or private retreat. Commercial kitchen. Games room, sauna & conference room. Thirteen bedrooms, sleeps 27 plus master bedroom & ensuite. Approx. 6900 sq. ft. on +/-2 acres. Asking $1.85M.
Sold Price: $51,900 Rent: $850 City: Tolleson 9EAR "UILT Square Feet: 1,423
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Far from the Madding Crowd
Contact us to start your portfolio today.
Average Sales Price per Square Foot
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Recreational Real Estate LIFESTYLE PROPERTIES
Here are twelve of the homes we’ve sold over the past few months which are all within a 30 minute drive80from downtown Phoenix. We even offer Approximately minutes northeast of Winnipeg property management for our clients. on the
Acquire Realty is family owned and operated with over 30 years of Real Estate experience. Contact us for Foreclosure or Short Sale Listings in Phoenix, Scottsdale, Fountain Hills, Surprise, 'OODYEAR AND 3URROUNDING !REAS 7E WOULD LOVE TO HELP YOU ďŹ nd your vacation home or investment property.
Newly remodeled home, 1870 square feet, 3 bedrooms plus den, 2 baths, prime location near shopping and freeway access, would make for a great vacation home or could rent for $1000-$1075 as an investment property.
Phone
FOR SALE - On Bird River, MB
INFO !CQUIRE!: COM s 7EST -C$OWELL 2D "LDG # Ste. 305 Avondale, AZ 85323
Phoenix Area
area, grabbing more than 2,000 residential properties and more than 600 plots of vacant land, with the Columbia Valley figuring large. With the BC/Alberta border so close to Calgary, the Kootenays were a natural lure. Then the oilfueled global economy stalled and Albertans went quiet; in 2010 Albertan purchases were off by more than 70 percent or 756 sales o f residential properties. However, with the global economy swinging back and oil now north of US$100 a barrel Nielsen expects a resurgence of Alberta buyers into the Kootenays. “Our sales team says the number and quality of calls coming out of Alberta has increased substantially, compared to anytime from mid2008 to late 2010, “ Nielsen said. A recent survey by the Royal Bank forecasts Alberta will lead the entire country in economic growth this year and next, and likely into the next decade. One telling stat: the average weekly wage in Alberta is $1,036 a week, almost one-third higher than the rest of Canada. And Albertans traditionally look to B.C. for recreational property. “You can golf, ski, and catch a large rainbow trout, all in one day in the Kootenays,� Nielsen said. He notes that the ski hills of Panorama Ridge near Invermere and the amenities o f Fairmont Hot Springs are close by Elk Park, with almost two-dozen golf courses within a 30-minute drive. Nielsen said The Ranches will attract a select type of buyer. “The price range is for individuals with a pioneering spirit ready to embrace a rare opportunity to own their own private ranch right at the foot of the Rocky Mountains.�◆
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FAX BACK TO 604-669-2154 OR CALL 1-800-661-6988
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#20, 8180 Macleod Tr. South, Calgary
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Tel: 403-680-6130
Email: francisleemaxwell@gmail.com
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Contact Jim Barkwell or Chad Snow at NAI Commercial Real Estate (780) 436-7410
NAI Commercial Real Estate Inc.
YOUR Do you have a ADVANTAGE unique IN ALBERTA property? SHOPPING PLAZA, HOTEL IN BIG CITY s !SKING s 2%6 - Hotel: $1,110,695; Rental: $513,253; Others: $669,734 s OVERSIZED ROOMS PLUS TENANTS AND OTHER BIG REV INCOME SOURCE s ,OCATED IN BIG CITY DOWNTOWN CORE WITH ACRES OF LAND AND SQ FT BUILDING MONEY MAKING FRANCHISE MOTEL s !SKING - s 2%6 s YRS OLD VERY BUSY LOCATION s ,IMITED 3ERVICE 2OOMS LOCATED IN VERY BUSY CITY FRANCHISE MOTEL s !SKING M 2EVENUE M s %XTREMELY HIGH END YEARS OLD BUILDING WITH HIGH VISIBILITY FROM (IGHWAY ROOMS SWIMMING POOL WATERSLIDE AND TWO MEETING ROOMS LIMITED SERVICE FRANCHISE MOTEL s !SKING - s YEARS OLD STOREY ROOMS s 3WIMMING 0OOL W WATER SLIDE s 3ITUATED WITH EXCELLENT EXPOSURE IN BIG CITY !" LIMITED SERVICE FRANCHISE MOTEL s !SKING - s 6ERY STEADY REVENUE s 2OOMS WITH SWIMMING POOL WATERSLIDE s ,OCATED IN BIG CITY IN !LBERTA MOTEL IN B.C. s !SKING - s 2%6 s 2OOMS W ,EASED 2ESTAURANT ,OUNGE s 7ATERSLIDE 3AUNA 0OOL s ,OCATED 4RANS #ANADA HIGHWAY WITH AMAZING VIEW s 5NDER RENOVATION FOR &RANCHISE mAG FRANCHISE MOTEL IN SOUTHERN ALBERTA s !SKING - s 2%6 s 2EV IS VERY STEADY PAST FEW YEARS DURING RECESSION s ROOMS WITH CLIENT BASE FROM 0ROVINCIAL &EDERAL EMPLOYEES TOURISTS AND OIL GAS AGRICULTURE MOTEL WITH RESTAURANT IN SK s !SKING - s 2OOMS s 2%6 2OOMS 2%34!52!.4 s 'REAT LOCATION IN THE CORE OF THE OIL INDUSTRY FULL SERVICE HOTEL NEAR CALGARY s !SKING - s 2%6%.5% - s ROOM VLT SEAT RESTAURANT AND SEAT OF BAR GAS BAR, LIQUOR STORE AND FAST FOOD s !SKING - s 2%6 'AS - s #ONFECTIONARY s #IGA - s ,IQUOR - $O NOT MISS THIS GREAT MONEY MAKING BUSINESS GAS BAR / CAR WASH s !SKING - s 2%6 s 'REAT FACILITY YEARS OLD LOCATED IN BIG CITY IN !" s %XTRA ACRE OF LAND VALUED AT OVER - GAS BAR, C-STORE AND A&W s !SKING s 2%6 'AS "AR # 3TORE ! 7 s . / ) CAR WASH NEAR CALGARY s !SKING - s 2%6 s BAY AND AUTO s 9EAR CAR WASH NEAR CALGARY s !SKING - s 2%6 s BAY PLUS 4OUCHLESS AND LEASED COMMERCIAL BUILDING WITH ACRES LAND s 9EAR BUILT CAR WASH s ,EASED COMMERCIAL BUILDING GAS BAR IN SK s !SKING M s 2%6%.5% M WELL MAINTAINED GAS BAR LOCATED VERY BUSY OIL INDUSTRY GAS BAR, C STORE s !SKING 2EVENUE ./) s %QUIPMENT WERE INSTALLED IN ABOVE GROUND TANK ACRES LAND BAY CAR WASH
Investment package together with summarized STRONG financial statements available to qualified buyers providing confidentiality agreements- Principals ONLY
6 Njovuft up Upxo Dfousf
xxx/FmlQbslSbodi/dpn
604-669-8500 • 1-800-661-6988 advertise@westerninvestor.com
$42 could make you millions!
B13
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
INVESTING101 Finding money and making more in today’s tough lending market for rental investors
'JOBODJOH GJSTU SFBM FTUBUF QMBZ f you have invested in real estate in Canada over the past decade, whether purchasing 20 units or just your own residence, it would have been hard to go wrong. Home prices doubling in most major markets since 2000 have helped mask what could have been glaring investing errors. But most economists now predict flat or even declining markets in the short term.
*
Adding to this is the fact that mortgage financing has become increasingly difficult. The reality is that, while less than 5 per cent of residential real estate is purchased as an income property, about two-thirds of all defaults and mortgage fraud come from this segment. As CMHC gets closer to its $600 billion insurance cap and volatility increases globally, financing for investors will continue to decrease. And thanks to BMO and its 2.99 per cent promotional rate earlier this year, profitability on mortgages has decreased as mortgages have started to become banks’ loss leader. Placing a mortgage on your rental property has a much lower chance of bringing lenders new opportunities to cross-sell on higher-margin products like bank accounts and credit cards. It is likely that you are either already their client or you have relationships with multiple lenders already (as most investors will find becomes a necessity). In short: time to pucker up if you want $300,000 for that next investment. If you are interested in investing in real estate it is imperative that you understand how banks finance investment properties, and how to get yourself prepared.
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First, it is important to understand how banks qualify your first rental purchase and how it differs from financing your residence.
Most Canadians are qualified for their own mortgage based on their credit, down payment and most importantly their income. To determine how much you qualify for on a personal mortgage, take 40 per cent of your gross annual income and divide that number by 12 to get a monthly figure. Subtract any current loans and liabilities to get the total amount you can qualify for on a monthly basis for the property taxes, strata fees, heating and mortgage payment. Example: A salaried employee earning $60,000 in income with a monthly car loan of $350/month. $60,000 x 0.4 = $24,000. $24,000/12 = $2,000. $2,000 - $350 = $1,650 in combined mortgage, tax, strata fees and heating expenses per month. Qualifying for a rental property isn’t as simple. It surprises many to learn that most banks will only use a small portion of the rental income to help qualify your acquisitions. Most banks use what is called a “50 per cent add-toincome” method of calculating rental income. Here’s the math on $1,000 in monthly rent: $1,000 x 50% = $500. $500 is added to your income, and 40% of your income is used to carry debts. So $500 x 40% = $200 of borrowing power. Based on today’s rates, $1,000 in rental income qualifies a borrower for about $40,000 on a mortgage. The problem with the “add-to-income” method is this: not just the first rental purchase is tough, but each subsequent purchase gets tougher. As it is almost impossible for the rent to cover the expenses, each rental property becomes a loss on paper that your income needs to carry. On top of this, instead of the minimum 5 per cent down available for personal residence purchases, the down payment was increased to
INVESTING101
Kyle Green, Vancouver-based mortgage broker and investor Audience First-time investors Lesson Arranging financing Investment Rental properties Strategy Buy for cash flow, sell for profit Best advice Take action
20 per cent for investment purchases in March 2010. Lenders have varying programs available for investors so it is advised to speak to a mortgage broker who can access the multiple lenders.
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Because of the roadblocks placed in front of investors, the initial setup is vital to purchasing multiple investments. Make sure you arrange your personal residence mortgage properly and, if you don’t own a residence already, buy one. Your own home is usually the best and most expensive investment in your portfolio and will usually see the largest appreciation. This is important because your residence is not subject to taxes (capital gains) upon sale and is usually the hub for your investing career. To set up your financing properly, you should make sure that you have extended your amortization as long as possible for the lowest minimum payment (but make sure to negotiate good pre-payment privileges). The low minimum payments will help qualify you for future purchases, but make sure you still utilize the lump-sum option to get off the never-never plan. Your mortgage should also be a re-advanceable mortgage, which allows you to
borrow back the principal you have paid down on your mortgage via a secured line of credit (LOC) or other mortgage portions. Remember that you can use your line of credit against your residence to use for down payment on a rental property. This is a great way to borrow 100 per cent of the investment (20 per cent from the LOC and 80 per cent on the property). The interest portion of the payments is a tax deduction on both the borrowed down payment and the mortgage you place on the rental. Once your residence is set up, it’s time to start analysing real estate and making acquisitions.
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The biggest mistake you can make is assuming that property values will go up. If you buy cashflow-negative property based on it appreciating you may be stuck selling the property at a loss or worse. If you invest in cash flow the only way to lose in real estate is if you are forced to sell the property. If it is putting money in your pocket each month, you can wait until the market recovers to sell and ensure you make a profit on your investment. Most investors are advised to do a lot of networking, connecting with professionals who specialize in working with investors and perhaps joining large investment networks like the Real Estate Action Group in Vancouver. It’s always cheaper to learn from other people’s mistakes than your own. When analyzing potential property, a free cash-flow analysis spreadsheet is available for download at www.mortgagesforinvestors.ca. Don’t be afraid to put an offer in on a good property if your preliminary research looks good. You will always learn more from the experience than by reading books. In summary, the only way to make money in real estate is to take action.◆ Kyle Green works with Vancouver-based Mortgage Alliance Meridian Mortgage Services, specializing in investment real estate. Contact him at 778-373-5441 or kgreen@ mortgagealliance.com.
"MCFSUB BUSINESS & INVESTMENTS
CALGARY & AREA Property & Business Opportunities Liquor Store (Business) Gross sales: $2.3M (2011) Gross margin: 23% Location: High traffic strip mall in Calgary Asking: $790,000
MOTEL IN SUNDRE * Asking: $2.49M * SALES: $752,047 * NOI $366,681 * 25 UNITS * 17 VLT’S
We are looking for 1st or 2nd mortgage lending opportunities for:
Liquor Store (Property & Business) Gross sales: $3M (2011) Gross margin: 17% Location: 2hrs from Calgary Asking: $1.55M
t
Single and multi-family residential developments
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Commercial, industrial and retail developments
Liquor Store (Business) Gross sales: $1.5M Gross margin: 20% Location: 30 min from Calgary Asking: $499,000
t
Refinancing / acquisitions
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Construction / land servicing
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Bridge loans
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Income producing properties
Grocery Store (Property & Business) Gross sales: $1.4M Gross margin: 30% 45min from Calgary B/D size: 8,000 sq.ft. Asking: 1.5M
Mi Jin Graham CCS 403-990-8110 mgraham@cirrealty.ca
CareVest has been providing its industry leading lending services since 1994. Our integrated real estate services specialize in the investment, financing and syndication of real estate mortgages throughout Western Canada and Ontario.
MOTEL IN ST. PAUL * Asking: $1.08M * Sales: 358,231 * NOI: 236,484 * 53 Units MOTEL IN MOSSLEIGH * Asking: $599,500 * Sales: $160,000 * 17 Units + 14 RV parking stalls GROCERY STORE IN OYEN * Asking: $1.29M * Sales: $2.6M * Living quaters included GROCERY STORE IN BIG VALLEY * Asking $325,000 * Sales $700,082 * NOI: $103,583 * Only one in the village STRIP MALL IN CARSELAND * Asking: $2.2M * NOI: $140,400 * Building size: 12,600 sqft RETAIL BUILDING IN CALGARY * Asking: $669,500 * NOI: 35,800 LAUNDROMAT + DRY CLEANING IN ROCKY MOUNTAIN HOUSE * Asking: $324,900 * Sales: $293,501 * NOI: $144,480 * 12 Washers, 13 Dryers * Size: 3,164 sqft * Rent: $4,176
ROCKY PARK CIR REALTY 403-681-7512 www.rockypark.ca
B14 Alberta
www.westerninvestor.com MAY 2012WESTERN INVESTOR
RESORT: Asking $4.0mil 60 Acres in Rocky Mountain, 6 months open MOTEL: Asking $1.49mil 51 Rooms, Sale $500,000 in Vegreville, AB MOTEL: Asking $3.79mil 38 rooms in Edmonton MOTEL: Asking $1.79mil 45 rooms in Pincher Creek CAR WASH: Asking $2.95mil Sale $600,000 I hour from Edmonton
Thomas Koh (CIR) 403-680-9827
FOR SALE: Retail Investment Property Main Street Centre, Airdrie, AB
‡ 0DLQ 6WUHHW &HQWUH SUHVHQWV WKH RSSRUWXQLW\ IRU LQYHVWRUV WR DFTXLUH D UHFHQWO\ UHQRYDWHG UHWDLO VWULS FHQWUH LQ $LUGULH $OEHUWD ‡ &HQWUDOO\ ORFDWHG DORQJ WKH EXV\ QRUWK VRXWK FRPPHUFLDO FRUULGRU 0DLQ 6WUHHW DOORZLQJ H[FHOOHQW H[SRVXUH WR RYHU YHKLFOHV SHU GD\ ‡ 0DLQ 6WUHHW LV WKH SULQFLSDO FRPPHUFLDO FRUULGRU LQ $LUGULH DQFKRUHG E\ WKH UHWDLO QRGH LQFOXGLQJ 7RZHUODQH 0DOO WR WKH VRXWK DQG *DWHZD\ &HQWUH UHWDLO QRGH WR WKH QRUWK For further information, please call: Duncan MacLean Richie Bhamra duncan.maclean@cbre.com
Obtaining Mortgages and Loans can be made Easy & Simple!
richie.bhamra@cbre.com
403 750 0800 403 303 4569 www.cbre.ca
Tomkoh999@gmail.com
CALGARY, AB Springbank 160 Acres
CBRE Limited, Real Estate Brokerage
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$POUBDU XJMU[FO!HNBJM DPN
CURRENT OFFERINGS
Bottle Depot For Sale Southern Alberta town Trading population 13,000 people
403-918-8932
• 4000 sq ft Penthouse ofďŹ ce space - 17th Ave S.W. Calgary
• 2175 sq ft West Downtown OfďŹ ce Condo For Sale $761,250 • 6000 sq ft Industrial Building N.E. Calgary $1.3M • Floral Shop Downtown For Sale $79,900
• Buyer Representation for Alberta Multi-Family Properties • Buyer Representation for Golf Course & Resort Development
Bus: (403) 240-4000 www.toolepeet.com
Email: Commercial@prutp.com to Receive Our Current Alberta Apartment Report!
ALBERTA IS AGAIN MOVING! ≼HARDISTY New 44 unit Motel. ≼FORESTBURG Pizza & Steak house. Restaurant seats 60, Lounge 30, with 3 VLTs & 2 cash machines. ≼NAMPA,ALBERTA in busy boom town, 16 unit motel, A very profitable operation. Full line of stainless 100 seat lounge, VLTs, liquor store and restaurant. PRICE REDUCED TO $990,000! steel equipment & recently upgraded fixtures. Living quarters as part of premises. ASK $565,000. ≼CAMROSEALBERTA 68 room, full services Hotel. REDUCED - NOW $4.0M. ≼VIKING Viking Hotel, a renovated and up graded ≼CAMROSE 4-Plex – Reduced! Located in a quiet operation. 12 guest rooms, a managers suite, tavern, residential south west area. Individually titled. Fully & restaurant. Owner retiring. ASK $159,000. leased. ASKING $429,000. ≼DAYSLAND Bottle Depot – Building, all equipment, ≼ANDREW,AB Liquor store. 2064 sqft. Brick finished bldg. on main street. (Former ALCB) Financials and shelving with additional 2 lots. Do a drive by. available to qualified buyers. ASKING $285,000. Phone for details.
FOR MORE INFORMATION CALL OREST:
s ! &LAGGED 2OOM ,IMITED 3ERVICE (OTEL consisting a variety of suites, well located with highway exposure and surrounded by a substantial number of conveniences, continued superb revenue performances that yield substantial N.O.I. that ultimately result in excellent return on equity and investment. !SKING
• 3000 sq ft character ofďŹ ce space - Victoria Park
MOTELS & HOTELS
email:swancity@telusplanet.net www.swancityrealty.com
P (403) 290-1990 F (403) 269-1853
LNT 4 PG $BONPSF "# HVFTUT GVMM TFSWJDF BXBSE XJOOJOH .
Dan SilvesterĂŠ403-705-8039 -ˆÂ?Ă›iĂƒĂŒiÀÊ,i>Â?ĂŠ ĂƒĂŒ>ĂŒiĂŠ-iĂ€Ă›ÂˆViĂƒĂŠ ˜V°
Isaac Shaikh Urban Property Inc Calgary, Alberta
Contact: Frank Hickey
frank@concordmortgage.ca
UĂŠĂŠĂŠ >Â?}>ÀÞʾÕ>Ă€ĂŒiĂ€ĂŠĂƒiVĂŒÂˆÂœÂ˜ĂŠÂˆĂƒĂŠÂ?ÂœV>ĂŒi`ĂŠĂœiĂƒĂŒĂŠÂœÂ˜ĂŠĂŒÂ…iĂŠĂŠ /Ă€>Â˜ĂƒĂŠ >˜>`>ĂŠ ˆ}Â…Ăœ>Ăž UĂŠĂŠĂŠ/Â…ÂˆĂƒĂŠĂƒÂˆĂŒiĂŠÂ…>ĂƒĂŠÂŁÂŁĂŠ>VĂ€iĂƒĂŠ`iĂƒÂˆ}˜>ĂŒi`ĂŠ>ĂƒĂŠÂ…Âˆ}Â…Ăœ>ÞÊ Vœ““iĂ€Vˆ>Â?ĂŠ UĂŠĂŠĂŠ Ă€i>ĂŠ`iĂƒÂˆ}˜>ĂŒi`ĂŠ>ĂƒĂŠĂŒÂ…iʓ>Â?ÂœĂ€ĂŠLĂ•ĂƒÂˆÂ˜iĂƒĂƒĂŠVÂœĂ€Ă€Âˆ`ÂœĂ€ĂŠ vÂœĂ€ĂŠĂŒÂ…iĂŠ-ÂŤĂ€ÂˆÂ˜}L>Â˜ÂŽĂŠ>Ă€i>ĂŠ UĂŠĂŠ ĂƒÂŽÂˆÂ˜}ĂŠ*Ă€ÂˆVi\ĂŠfĂˆÂ°Â™ĂŠ
Price, Financials available To Serious Buyer Call 403-918-8932
Commercial, Industrial & Residential Financing
780-679-8353 FAX: 780-672-1897 CAMROSE, ALBERTA
Commercial Mortgage Funds Available InďŹ nity Mortgages and Loans Inc. specializes in Multi residential, commercial, industrial, retail, hospitality and development. We provide ďŹ nancing ranging from bridge loans to long term take out. Whether acquiring, reďŹ nancing or constructing, our experts have the experience to ďŹ nance your project. Canada wide and international service available.
For Sale
Adjacent to Highway #1 in Medicine Hat, Alberta PARCEL ONE: 4.74 Acres – Fenced – Gravel compacted 6000 square ft. sprung tent with two roll away doors. GOOD LOCATION Asking: $780,000 PARCEL TWO: 6.55 Acres – Bare land Services to property line GREAT LOCATION Asking: $849,000
Rod Wilson ROYAL LEPAGE Community Realty
BUS: (403) 528-4222 CELL: (403) 548-0156 TOLL: 1-888-526-0911 OFFICE: (403) 504-2963 rodwil@telusplanet.net
WWW INlNITYMORTGAGES COM s WVIGNAL INlNITYMORTGAGES COM
403-770-0224
www.medicinehatrealesate.net
s ! 3UITE !PARTMENT #OMPLEX in superb condition, continuously operates at a very high occupancy level that yields excellent revenues, immediate possession, an excellent buy at s ! &LAGGED &ULL 3ERVICE (OTEL, strategically well placed in a Premier location, completely up-graded, signiďŹ cant mortgage ďŹ nancing, very strong revenue performances; a good investment with a big up-side potential going forward. !SKING s ! &LAGGED 2OOM &ULL 3ERVICE (OTEL well located in a prime commercial area a dynamic city, the stellar performance of its operation is attested to by its continuous outstanding growth in revenues, plus substantial up-side potential. !SKING s ! &LAGGED 2OOM ,IMITED 3ERVICE (OTEL, featuring indoor Swimming pool among its other amenities, very well located on a service road that gives it highway exposure, outstanding Revenue/occupancy performances. !SKING s 5RBAN 2ESERVE ,AND with potential uses for highway commercial and residential in a town with tremendous growth potential going forward, very reasonably priced at s ,OCATED IN A VERY POPULAR 3KI 2ESORT A New Deluxe 2-Bedroom Condo Consisting of 2-bath rooms, ďŹ replace, cable among many other superb Features, plus the many amenities such as swimming pool, sauna, ďŹ tness Center, indoor parking to name a few within the Building Complex’ Immediate possession available, a great buy with cash to an existing mortgage of $330,900 more or less, at the !SKING 0RICE OF
Alberta B15
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
LOCAL EXPERTISE
MATTERS
INVESTMENT OPPORTUNITIES FROM
BARCLAY STREET REAL ESTATE
NEW LISTING
NEW LISTING
FOR SALE
FOR SALE
FOR SALE
MULTI-TENANT RETAIL PLAZA
MIXED-USE COMMERCIAL BUILDING
OWNER USER OFFICE BUILDING
BIG SPRINGS PLAZA
BERNARD CALLEBAUT BUILDING
224 15TH AVENUE SW
%AST ,AKE "OULEVARD !IRDRIE !LBERTA
n ST 3TREET 3% #ALGARY !LBERTA
#ALGARY !LBERTA
s #LOSE PROXIMITY TO DOWNTOWN CORE restaurants, Saddledome, Stampede 0ARK HOTELS AND NEW MIXED USE developments (Sasso, Vetro, Nuera and Stampede Station).
Serves the sporting population and benefits from its close proximity to Genesis Place Sporting Facility.
s "UILDING AND SITE HAVE VERY GOOD CURB appeal.
Proximity to 17th Avenue SW, one OF #ALGARY S MOST UNIQUE AND VIBRANT shopping and commercial districts, provides convenient access to various amenities. For more information or to view, please contact: DAN HARMSEN
For more information or to view, please contact:
dharmsen@barclaystreet.com
For more information or to view, please contact:
RYAN SWELIN
rswelin@barclaystreet.com
GEORGE LARSON
GEORGE LARSON
glarson@barclaystreet.com
glarson@barclaystreet.com
rlewis@barclaystreet.com
p: 403-290-0178 f: 403-262-1314
p: 403-290-0178 f: 403-262-1314
p: 403-290-0178 f: 403-262-1314
RICHARD LEWIS
FOR SALE
FOR SALE
FOR SALE
RESTAURANT PROPERTY
OWNER USER OFFICE BUILDING
OWNER USER OFFICE BUILDING
(REAL ESTATE ONLY)
429 11TH STREET NW
505 21ST AVENUE SW
4( 3TREET %DMONTON !LBERTA
#ALGARY !LBERTA
#ALGARY !LBERTA
s 4HIS OFFER IS A REAL estate offering, not an offering for the business within. s 0ROMINENT LOCATION s ,ONG TERM LEASE IN place.
s ! #LASS OFFICE IMPROVEMENTS s /WNER USER TURNKEY OFFICE opportunity. s )NCOME GENERATING RESIDENTIAL SUITES on the second floor. s #LOSE TO ,24 AND NUMEROUS AMENITIES in Kensington area.
For more information or to view, please contact:
s SQ FT OF CHARACTER OFFICE premises located on a prominent SQ FT SITE s 4HE PROPERTY IS LOCATED IN #ALGARY S vibrant 4th Street SW Residential/ #OMMERCIAL $ISTRICT #LIFF "UNGALOW
For more information or to view, please contact:
For more information or to view, please contact: DAN HARMSEN dharmsen@barclaystreet.com
RYAN SWELIN
RYAN SWELIN
dgrinde@barclaystreet.com
rswelin@barclaystreet.com
rswelin@barclaystreet.com
P C
p: 403-290-0178 f: 403-262-1314
p: 403-290-0178 f: 403-262-1314
DOUG GRINDE
COMMERCIAL REAL ESTATE
SOLUTIONS
Office, Retail, Industrial
Land, Investment
SALES AND LEASING
SALES
Property Management
CALGARY OFFICE ƒ Suite 200, 407 – 8th Avenue SW Calgary, AB ƒ T2P 1E5 ƒ p: 403ƒ290ƒ0178 f: 403ƒ262ƒ1314 EDMONTON OFFICE ƒ 202, 2520 Ellwood Drive Edmonton, AB ƒ T6X 0A9 ƒ p: 780ƒ463ƒ3332
WWW.BARCLAYSTREET.COM
B16 Alberta
www.westerninvestor.com MAY 2012WESTERN INVESTOR
FOR SALE BY OWNER Southwest Alberta
PEACE RIVER, ALBERTA FOR SALE: COMMERCIAL BUILDING
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PAINTBRUSH RIDGE, CANMORE ALBERTA Presently leased - some Vacancies available. 37,000 sq. ft. on 2.99 acres. Includes commercial Kitchen, banquet room plus smaller ofďŹ ces. Many upgrades and renovations. Downtown location - plenty of parking.
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DEVELOPMENT OPPORTUNITY
Offered for $2,500,000
@ 403-627-8084
NORTHERN ALBERTA FULL SERVICE HOTEL FOR SALE
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CENTRAL ALBERTA CAMPGROUND OPPORTUNITIES
LAKEFRONT! 403-347-0744
RED DEER IS BOOMING AGAIN ĂˆÂ‡* 8ĂŠfÇǙ]äääÊÊÇ°xÂŻĂŠ *ĂŠ, / t -Walk To Red Deer College -Newer Windows & Exterior -Five 3 Bedrooms & 0ne 2 -Excellent Cash Flow
$3,250,000 KACIKEWIN CAMPGROUND & CABINS Only 40 min. west of Edm. 10.00 +/- Fully treed acres. 89 beautiful lakefront sites. Fully rented last 9 yrs. Store/Manager's residence. Room for expansion! Large sandy beach area. Located west of Alberta Beach on Lac Ste. Anne.
81 rooms and suites - on 12.5 acres. Highway frontage - lots of parking. 76 seat coffee shop, 135 seat dining room, 80 seat pub, 160 seat Sports Bar with VLT’s. 2 homes for staff housing.
Offered for $16,000,000 For Further Information and Details, Call
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DUSTY SMITH TEAM SUTTON LANDMARK REALTY / RED DEER, AB
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RE/MAX GRANDE PRAIRIE
Thiry Kelemen 780-831-8804 thiry@telus.net
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FULL SERVICE MOTEL
FOR SALE
FOR SALE
In Dynamic Good Sized Western City
Westmount Village Phase 1 Okotoks, Alberta 24,175 Sq. Ft. Shopping Centre
602 - 12 Avenue SE Calgary, Alberta 7,000 Sq. Ft. Downtown Site
Saskatchewan s ROOMS BANQUET AND RESTAURANT FACILITIES WITH LOUNGE AND 6,4 S s 0RICED AT MILLION AT AN CAP RATE s 2OOM FOR IMPROVEMENT
Jim Balfour Tel: (403) 291-8860 jbalfour@naicalgary.com
Tim Anderson Tel: (403) 291-8866 tanderson@naicalgary.com timjn_anderson@yahoo.ca
HOTEL - FULL SERVICE Southeastern Alberta s . / ) IN EXCESS OF s &ULL 3ERVICE )NCLUDING #ONFERENCE 7EDDING facilities s 7ELL &LAGGED s ROOMS WITH ROOM AND PLANS FOR EXPANSION s 4WO LOUNGES s (IGH 6,4 COUNT s .ET 2ENTAL INCOME AS WELL s 0RICED TO 3ELL 5 MOTELS PRICED UNDER $700,000 s ,OCATED IN VARIOUS SOUTHERN !LBERTA TOWNS s 'REAT RETURNS FOR AN ON SITE OWNER OPERATOR s (AVE YOUR OWN BUSINESS FOR A LITTLE MORE THAN the cost of an average home in Calgary
Jim Balfour Tel: (403) 291-8860 jbalfour@naicalgary.com
Tim Anderson Tel: (403) 291-8866 tanderson@naicalgary.com timjn_anderson@yahoo.ca
Shane Olin Tel: (403) 708-9086 solin@naicalgary.com
4110 - 79 Street NW Calgary, Alberta 10,250 Sq. Ft. Office Building
SHOWROOM/WAREHOUSE BAY FOR LEASE Bay D, 4301 - 9 Street SE, Calgary s SQ FT s $OCK $OOR WITH /FFICES AND 7ASHROOMS BUILDING FOR SALE 97 Prairie Place SE Calgary, Alberta 4.7 Acres Industrial Development Site
s "UILDING OF SQ FT s %XCELLENT HIGHWAY FRONTAGE LOCATION s 0OTENTIAL FOR 2ETAIL USE s /WNER WILL RESPOND TO ALL /FFERS s 02)#% Jim Courtney Tel: (403) 291-8873 jcourtney@naicalgary.com
Shane Olin Tel: (403) 708-9086 solin@naicalgary.com
Calgary Office ! 3TREET 3% #ALGARY !" 4 ( " s Phone: (403) 214-2344 FAX: (403) 214-0244 BUILT ON THE POWER OF OUR NETWORK. OVER 375 OFFICES WORDLWIDE.
B17
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
REGIONAL ROUNDUP Medicine Hat looking to the future as natural gas price plunges to a decade low
“Market demand will have a say in how neighbourhoods are built or redeveloped,� Reddy said. Still, he notes, some of the city’s existing subdivisions already sport housing densities higher than that benchmark. Medicine Hat should have no problem meeting demand for land, at least for the short term “Right now we’re in the enviable position of having enough lots in inventory and approved for about 2,600 more people,� with land already zoned to accommodate up to 10,000 more, Reddy said.
5BLJOH JUT NFEJDJOF DAVE HUSDAL WESTERN INVESTOR lberta’s oil-centric recovery hasn’t sparked the economies of the province’s traditional natural gas hubs, but the “Gas City� of Medicine Hat is boldly planning for a bright tomorrow, despite gas prices plunging to decade lows.
"
Photo: Canadian Forces
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Photo: City of Medicine Hat
As of press time, natural gas was trading at US$2 for 1,000 cubic feet, the lowest level since January of 2002 and far below the 2011 peak of $4.85. But this southeast Alberta service centre is looking past the current gas cycle – it has seen them before – to 50 years down the road. The city, after all, has a 4.6 per cent unemployment rate (the Canadian average is 7.2 per cent) and remains a muscular trading and transport hub with two military training bases. Rudyard Kipling once quipped Medicine Hat had “all hell for a basement,â€? but it may also have a helluva future. And it’s a future based primarily on helping real estate investors by cutting red tape and delays on projects, especially industrial and high-density residential developments. “We’re hoping to produce a much more simplified land-use bylaw with a much simpler and hopefully less expensive manner of ‌ getting through the system,â€? explained Chris Reddy, the city’s new general manager of planning, building and development. Reddy, who moved to the ’Hat from Fort McMurray, understands a little about moving building activity along. His department is currently working through the introduction of a new municipal development blueprint for the city, as well as the new land-use bylaw. The overarching MDP, known as the Medicine Hat Plan, has already been to the city’s planning commission and will now undergo scrutiny from the public and city coun-
TOP: Medicine Hat sees population swelling by 10,000 each decade for the next 40 years. And it has the land to handle it. INSET: British Army AS90 tank in training exercise at CFB Suffield near Medicine Hat.
cil. It may well pass from talk to action this year. The document focuses on expanding industrial development in the city, as well as adding residential density.
*OEVTUSJBM
“We’re going to put a lot more emphasis on the industrial sector, the area around theCanadian Fertilizer site, as our future employment growth area,� Reddy explained. The area immediately around the fertilizer plant site in the city’s north end is not likely to attract housing or retail but is seen as vital for industrial businesses, everything from manufacturing to staging yards for the energy and transportation sectors. Industry-wise, there’s been a silver lining for Medicine Hat in the cloud of lagging gas prices. Multinational giant Enerflex re-opened
its mothballed Medicine Hat methanol plant last year because lower gas prices improved the plant’s competitiveness.
5IF QMBO
The Medicine Hat Plan envisions a greener city with more than 100,000 residents in 2060 – up from 60,000 today. The plan also calls for more compact neighbourhoods, “sensitive infill,� greater reliance on “alternative energy, from solar and wind� and the usual utopianstyle boilerplate. But it backs up the platitudes with some hard numbers and a respect to market realities. The housing-density scheme envisions up to 17 homes packed into each hectare – twice the current average in Alberta cities – but Reddy admits this could be a hard sell in a car-loving Prairie city that covers more than 11,200 hectares.
While the ’Hat hasn’t boomed by Alberta standards, it saw a 21.8 per cent hike in population for the 10-year period ending in 2009, or an average growth rate of about 2.2 per cent. Much of the city’s population growth has come from people moving in from Saskatchewan, which is very closeby, bu t city officials wonder if that will continue as the Saskatchewan economy continues to improve. The biggest growth pressure in Medicine Hat has been on the south end of the city, with residential and commercial developments part of the mix. They’ve both led to some congestion along the Trans-Canada Highway (TCH) through the city, but the province has announced plans to build a long-awaited interchange at the TCH and Dunmore Road, and that’s seen as a big plus in the battle against traffic problems in the southeast. The project is going to tender in 2012, with completion likely in 2014. The provincial government is also spending to redevelop the city’s existing regional hospital, under an ongoing $200 million budget. Meanwhile, CFB Suffield and British Army training bases pump an estimated $60 million into the local economy each year.
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The long-planned redevelopment of Medicine Hat’s historic downtown has been largely a miss to date, something Reddy is quick to
Please see Wind power page B19
"MCFSUB
ETHBRIDGE PROPERTIES OFFICE COMPLEX 1400 sq.ft. with 4 ofďŹ ces that have been completely remodelled. Good active location, close to major mall. Zoned I-B RETAIL/OFFICE MALL 2000 sq.ft. Off street parking. Minimum reno's needed. Vacant. Zoned C-G VACANT LOT .68 Acres, Building plans approved. In large retail area. Zoned C-H
K & * 5 ) L& & 4 403-894-0534 w w w. k e i t h l e e s. c o m
INDUSTRIAL LAND w/BUILDING FOR SALE
Asking $2,532,500 - Ponoka, Alberta
SOLD SOLD SOLD
11.55 acres, 8 individual lots with a 5000 sf unďŹ nished panelized structure on Lot #10 (Lot #10 - 15 are 6 contiguous lots; Lots 19 & 20 are 2 contiguous lots) Located at 49th Street and 60th Avenue in the north Industrial Park within the town limits. Site is provided with all municipal services, and a railway spur connection to the main CPR line between Calgary and Edmonton. Recent rail crossing was completed by town of Ponoka. Excellent manufacturing site or stage area for Oil Sands or other Northern Industrial projects. Lots are for sale individually or as a whole parcel. Owner may sell entire parcel within the Corporation with tax loss advantage to purchaser. MLS# C1019384, C1019385, C1019387, C1019388, C1019389, C1019390, C1019391 and C1019392
Mary Yuen-Sears, Realtor SUTTON GROUP - CANWEST #1, 555 Hawkwood Blvd NW, Calgary, AB T3G 3K2 #ELL s &AX %MAIL MARY CALGARYTAGTEAM COM s WWW CALGARYTAGTEAM COM
Looking for a quick buyout? If you’re a property management owner looking to retire, cash out or reduce hours, we want to talk to you. We seek to grow, have cash, and are experts at tax-eďŹƒcient, exible options.
Keith McMullen 403-228-4303 keith@firesidepropertygroup.com
B18 Alberta
www.westerninvestor.com MAY 2012WESTERN INVESTOR
"
$05.,)( .$&( 8 !42((4 '/10410 " !
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" ! ,*+6$7 #$22(0 "+1/$3 (21'21/( !42$4+&10$ 15047 .%(24$ c -! 2#" ', 2&# * #02 ,"3120' * # 02* ," c ?= $##2 9BB $##2 .0#L#,%',##0#" 12##* !-,1203!2'-, c := $--2 !*# 0 !#'*',% &#'%&2 c '012 0 2# !-,1203!2'-, 2&0-3%&-32 3'*"',% c ,LÉ— --0 &# 2',%I = *'%&2',%I ?= $--2 'L$-*" "--0 c #!30# . 0)',%
Contact Your Guide to Edmonton Apartments Today!
APARTMENT OPPORTUNITIES 6 SUITES - $620,000
9 SUITES, DOWNTOWN - $855,0 00 12 SUITES, CONCRETE, WEST END - $1,272,000 12 SUITES, DOWNTOWN - $925,0 00 15 SUITES, SOUTHSIDE - $2,325 ,000 15 SUITES, WEST END - $1,500 ,000 30 SUITES – WEST END - $ 2,5 65,000
Pam Gill (780) 455-4088 gillp@sutton.com
(0 #,..,$/310
www.apartmentsinedmonton.com
-(0 6,..,$/310 &1..,(23 &1/
Sutton Central Commercial - AN INDEPENDENT MEMBER BROKER
www.cwedm.com
CUSHMAN & WAKEFIELD EDMONTON 2300 Sunlife Building, 10123 - 99 Street, Edmonton, AB T5J 3H1
780-420-1177
investment@cwedm.com
MULTI-FAMILY OPPORTUNITIES s "ANK 3ALE RESIDENTIAL UNITS MAIN mOOR UNITS PARTIALLY COMPLETE 7ESTLOCK !"
INVESTMENT SALES SITE
s UNITS IN BUILDINGS IN 7ETASKIWIN BDMS s (IGHRISE SITE IN 2UTHERFORD ACRES ZONED FOR UNITS IN DYNAMIC AREA s (IGH DENSITY DEV SITES APT OPPORTUNITIES IN 7ETASKIWIN s ,AC ,A "ICHE -OBILE (OME 0ARK PAD AND ACRE SITE s UNITS -ORINVILLE MINUTES FROM 3T !LBERT BUILT Apartment product is in demand! Please call for our opinion of value of your building!
CHRISTOPHER KAMPHIUS or RAPHAEL YAU multifamily@cwedm.com
COMMERCIAL CONDOS n SQ FT LOCATED AT INTERSECTION OF &ORT 2OAD 7AYNE 'RETZKY $RIVE 9ELLOWHEAD STARTING AT SQ FT
BURKE SMITH burke.smith@cwedm.com CONTACT
DEVELOPMENT OPPORTUNITIES +/- 0.947 ACRES: in Valemount, BC. Zoned C3 (Service Commercial) ................................ $49,500 +/- 1.05 ACRES: in Valemount, BC. Zoned HC (Highway Tourist Commercial) .............$455,000 +/- 3.84 ACRES: Fronting St.Albert Trail, Zoned IB (Industrial Business)........................ $3,500,000 +/-13,812 SQ FT: 8204 – 106 AVENUE ………. .......................................................$495,000 +/- 0.31 ACRES: high visibilty location on 111 Avenue .......................................................$610,000
JEFF MCCAMMON OR DOUG BAUER
CONTACT
QUESNEL, BRITISH COLUMBIA
PRIME WEST EDMONTON LAND – RA7 s 2EADY TO BUILD UP TO UNITS s ACRES s !SKING CONTACT JEFF McCAMMON / DOUG BAUER OR DUSTIN BATEYKO
WESTLOCK MALL, WESTLOCK, AB s ¢ SQ FT ON ACRES ANCHORED BY 0EAVEY -ART AND 4HE "ARGAIN 3HOP s SQ FT s !TTRACTIVE RETURNS
CONTACT DAVID COONEY / DOUG FOGG OR HOWARD McCANN
DUGGAN MALL, CAMROSE, AB s SQ FT SQ FT NET RENTABLE MAJOR ENCLOSED SHOPPING CENTRE SHADOW ANCHORED BY 3MITH #LINIC AND #ANADIAN 4IRE ASKING SQ FT
MULHURST BAY CROSSING s ACRES ON 0IGEON ,AKE s !REA 3TRUCTURE AND 3UBDIVISION 0LAN APPROVED FOR DWELLING UNITS SITE 26 SEASONAL PARK ACRES COMMERCIAL DEVELOPMENT SITE s 3ERVICES IN CLOSE PROXIMITY
INDUSTRIAL BUILDING FOR SALE s BUILDING COMPLEX s &ULLY LEASED TENANTS s
s !N IDEAL OPPORTUNITY FOR AN INVESTOR INTERESTED IN LONG TERM INCOME STABILITY AS #ENTRE IS LEASED TO .ATIONAL BRANDED TENANTS s 4ENANTS INCLUDE "OSTON 0IZZA )2)3 AND ! 7 s 3TABILIZED NET INCOME OF s 0RICE $2,950,000
CONTACT HOWARD McCANN / DOUG FOGG OR ADAM MARTINSON
OFFICE BUILDING FOR SALE s 7ELL LOCATED STOREY OFlCE BUILDING ON 3TREET s %XCELLENT OWNER USER OPPORTUNITY WITH DENTAL OFlCE BUILT OUT ON MAIN mOOR s 4OTAL OF SQ FT ABOVE GROUND s
CONTACT IAN NEWMAN
FORT MCMURRAY, AB s &ORMER &ORT 4HEATRE s SQ FT SITE WHICH INCLUDES A SQ FT BUILDING
CONTACT DOUG RAE
MERRITT, BRITISH COLUMBIA s ¢ SQ FT FREE STANDING BUILDING FOR 3ALE OR ,EASE s )NCLUDES BONUS PARKING LOT s ,EASE SQ FT 3ALE
CONTACT murry.osborne@cwedm.com or
CONTACT JEFF McCAMMON OR DOUG BAUER
scott.sowinski@cwedm.com
SPRUCE GROVE, DEVELOPMENT LAND
FORMER WAL-MART, MEDICINE HAT
s !DJACENT TO 3UPERSTORE AND (OME $EPOT s 0ARCELS FROM ACRES s 'REAT OWNER USER LAND JOIN -ACgS CAR WASH
CONTACT DOUG FOGG OR MARK McCANN
s (IGH PROlLE REDEVELOPMENT OPPORTUNITY s ACRES S F BUILDING s
NG I D N E P
CONTACT HOWARD OR MARK McCANN
Alberta B19
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
acknowledge. “There’s been a lot of dancing around, but the numbers haven’t been right [for investors], and we need the growth to spur it on,� he said of the potential downtown makeover. The city thought it had landed a developer to move ahead with a major office and mixed-use development on what’s known as the Glanville site downtown, but that fizzled this spring when River City Development Corp. nixed a plan for a seven-storey tower on the vacant site near City Hall. Mayor Norm Boucher called the setback unfortunate, but said development of the property “remains a high priority of council, and we will discuss the next steps in ensuring its development.� The collapse of the project signalled there’s not sufficient appetite for Class A office space priced higher above existing lease rates in the city right now. March did bring some positive news for the region’s alternative energy industry – approval of a major transmission line to hook up the Wild Rose wind-generation projects being developed by Calgary-based NaturEner. The approval moves two large wind-power projects in surrounding Cypress County closer to reality. Retail action is focused on the south end of town, where merchants have been willing to pay rents in the $25-to-$30-per-square-foot range annually for the right locations.
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RED DEER, ALBERTA CONDO DEVELOPMENT PROPERTY PRIZE LOCATION ON PARK – ZONED FOR 65 UNITS $2,500,000
SASKATCHEWAN
8*/% 108&3 from B17
ALBERTA Brooks 1
MEDICINE HAT âœŞ
DOWNTOWN COMMERCIAL SITE BUILDING: 8,972 SQ.FT. ON .51 ACRES PAVED PARKING, LOADING DECK $1,500,000 BUCK LAKE, ALBERTA 100 FT. WATERFRONT, TREED, ALL SERVICES EXCELLENT RETREAT $325,000 LACOMBE, ALBERTA DEVELOPMENT PROPERTY DOWNTOWN – 34 ACRES COMMERCIAL/BUSINESS PARK/INDUSTRIAL READY TO DEVELOP $2,500,000
U.S.A.
RCR COMMERCIAL REALTY CORP. CALL GERRY OR BRAD
.FEJDJOF )BU "#
403-342-7700 or 403-302-9111 (Cell)
Population 61,097 Median detached house price $257,000 Projected 2012 housing starts 150 Apartment rent (2 bdrm) $695/ month Unemployment rate 4.6 per cent Web page www.medicinehat.ca
www.rcrrealestate.com
AVAILABLE IN ALBERTA!
Call Sammy EMPIRE REAL ESTATE GROUP
780-906-6652
e t a t s E l a e R e Prim S ylvan L ake, A lberta Pizza Business, Restaurant/Bar Business, Land & Building across from the Beach.
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Jeff Lanigan, the new president of the Medicine Hat Real Estate Board , sees a steady upturn in the housing market. After a tough year in 2011, he said, there’s fresh demand in the sector right now, with home prices edging up early in 2012. In the first three months home sales were up 23 per cent to 334 units, and total sales values jumped an impressive 22.5 per cent to $81.1 million.◆
SHOPPING CENTRES, STRIP MALLS, HOTELS & MOTELS
Call CARL STEPP cell: 403-358-9300 www.sylvanlakehouseguy.com 1- -- -ĂŠUĂŠ " , ĂŠ ĂŠUĂŠ ," /-
HOTEL OPPORTUNITIES • 300.4 '-"((&% MJNJUFE TFSWJDF IPUFM JO B WJCSBOU DPNNVOJUZ BEKBDFOU UP B NBKPS "MCFSUB DFOUFS " OFXFS QSPQFSUZ UIBU DPNQMFUFE FYUFOTJWF VQHSBEFT GPS B 1*1 1PPM XBUFSTMJEF BOE XFMM FRVJQQFE XFJHIU SPPN 4USPOH USFOE MJOF XJUI HSFBU QPUFOUJBM GPS JODSFBTFE GVUVSF SPPN TBMFT "TLJOH • 300.4 '6-- 4&37*$& JOEFQFOEFOU IPUFM JO B UISJWJOH "MCFSUB PJM DFOUFS +VTU JO BU • -*.*5&% 4&37*$& 300.4 'MBHHFE IPUFM JO B NBKPS TFDPOEBSZ PJM DFOUFS NBSLFU &YDFQUJPOBMMZ TUSPOH QFSGPSNFS XJUI JODSFEJCMF GSFF DBTI ¿PX *O HSFBU TIBQF BOE WFSZ XFMM QSJDFE BU • '-"((&% 300.4 MJNJUFE TFSWJDF IPUFM GFBUVSJOH JOEPPS TXJNNJOH QPPM XIJSMQPPM HVFTU MBVOESZ BOE PUIFS BNFOJUJFT 5IJT QSPQFSUZ JT WFSZ XFMM MPDBUFE PO B NBKPS IJHIXBZ BOE IBT HPPE SFWFOVF BOE PDDVQBODZ UIBU BSF USFOEJOH VQXBSET "TLJOH • -*.*5&% 4&37*$& 300.4 MPDBUFE JO TNBMMFS DJUZ JO "MCFSUB 5IF IPUFM JT SVO BT BO JOEFQFOEFOU CVU IPMET HPPE QSPTQFDUT GPS GSBODIJTF DPOWFSTJPO "TLJOH • 300.4 '6-- 4&37*$& '-"((&% XJUI B IJHI QSPžMF MPDBUJPO JO B NBKPS DFOUSF XJUI QMFOUZ PG NFFUJOH TQBDF SFDFOU FYUFSJPS BOE JOUFSJPS JNQSPWFNFOUT TPMJE BOE QSPWFO DBTI ¿PX 0GGFSFE BU • '-"((&% 300.4 XJUI B IJHI QSPžMF MPDBUJPO XJUI FYDFTT BEKBDFOU MBOE JO B WFSZ WJCSBOU DJUZ " SFDFOUMZ SFOPWBUFE VQTDBMF SFTUBVSBOU BOE MPVOHF JT MFBTFE #BORVFU GBDJMJUJFT EBUB QPSUT BOE XJSFMFTT JOUFSOFU /FXMZ SFOPWBUFE TQPSUT MPVOHF BMTP PO TJUF JT PXOFS PQFSBUFE BOE IJHIMZ QSPžUBCMF %FQFOEBCMF DBTI ¿PX XJUI B HSFBU EFBM PG VQTJEF 3FEVDFE UP • */%&1&/%&/5 )05&- 300.4 MPDBUFE JO B UISJWJOH DFOUFS PO UIF :FMMPXIFBE )JHIXBZ 5IJT TJY ZFBS PME GVMM TFSWJDF QSPQFSUZ IBT B MFBTFE SFTUBVSBOU 4USPOH USFOE MJOF BOE HPPE VQTJEF 3VO BT BO JOEFQFOEFOU PS ¿BH JU "TLJOH • )05&- 1"$,"(& IPUFMT UPUBMJOH SPPNT JO NBKPS DJUZ "TLJOH • 300.4 JOEFQFOEFOU IPUFM MPDBUFE JO B NBKPS "MCFSUB PJM DFOUFS 5IJT GPVS ZFBS PME MJNJUFE TFSWJDF IPUFM JT USFOEJOH TUSPOHMZ BOE JT TVJUBCMF GPS WBSJPVT ¿BHT "NFOJUJFT JODMVEF LJUDIFOFUUFT XJSFMFTT JOUFSOFU HVFTU MBVOESZ BOE NFFUJOH CPBSESPPN TQBDF "EEJUJPOBM MBOE BWBJMBCMF GPS B SFTUBVSBOU JG SFRVJSFE "TLJOH • 300.4 JOEFQFOEFOU IPUFM PO B NBKPS "MCFSUB IJHIXBZ 5IJT MJNJUFE TFSWJDF IPUFM XBT CVJMU JO JT JO WFSZ HPPE DPOEJUJPO BOE XJMM BUUSBDU B TUSPOH CSBOE "NFOJUJFT JODMVEF žSFQMBDFT JO FBDI SPPN XJSFMFTT JOUFSOFU HVFTU MBVOESZ BOE NFFUJOH CPBSESPPN TQBDF "TLJOH For further information, contact Gary & RenÊe Anderson Hospitality Sales Specialists Direct: 780-432-1408 contactus@andersonhotelsales.com www.andersonhotelsales.com Carton Realty Ltd. Office: 780.444.6605
WHITECOURT AREA, ALBERTA HAUSER'S HARD NINE GOLF COURSE MLSÂŽ 26721 $999,900
Own your own private golf course! Located 30 minutes from Whitecourt & Barrhead on the corner of Hwy 18 & Hwy 757. This nine hole golf course is now available for sale. There is a club house and a a personal log home. A year round business opportunity with nature trails and 10 campsites. Some equipment also included that helps maintain the property. An added beneďŹ t is the property can be subdivided. This is a one in a lifetime opportunity.
PAUL CHAUVET
KATHY WAUGH
780-268-3949 chauvet.paul@gmail.com
780-779-7248 kathywaugh.exit@gmail.com
OFFICE INDUSTRIAL MLSÂŽ 27129 $899,000
• Triple A tenant rating for another 4 years! Renewable 5 year term. • Excellent investment. Good rate of return & AAA tenants. • OfďŹ ce - 1440 sq.ft Bay 1 - 1040 sq.ft Bay 2 - 3000 sq.ft. • Total Space - 6000sq. ft. plus mezzanine 2000 + sq.ft.
PAUL CHAUVET
RE/MAX real estate central alberta
'3"/$)*4& 0110356/*5: "7"*-"#-& 6OJRVF 4VDDFTTGVM (SPXJOH 3FUBJM #VTJOFTT 1SPWFO 1SPÂŞUBCMF $IFBQ 4NPLFT 5PCBDDP .JO DBTI JOWFTUNFOU L $POUBDU KFGG!DIFBQTNPLF DB PS DBMM +FGG MBXSFODF
780-268-3949 chauvet.paul@gmail.com
EXIT REALTY RESULTS Whitecourt, Alberta 780-779-0090 U www.paulandsue.ca
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B20 Alberta
www.westerninvestor.com MAY 2012WESTERN INVESTOR
s #OMMERCIAL )NDUSTRIAL $EVELOPMENT /PPORTUNITIES s 3INGLE &AMILY (OMES .EW !PARTMENTS 2EQUIRED s MINUTES TO %DMONTON AND -INUTES TO 2ED $EER
s 2ETAIL (OTEL $EVELOPMENT /PPORTUNITIES s 3+90/24 AT 7ETASKIWIN !IRPORT 3ITES !VAILABLE s LOYAL SHOPPERS IN IMMEDIATE TRADING AREA
City of Wetaskiwin
For Details Contact: RONALD HOLLAND (780) 361-4404 Edm Dir: (780) 421-0953 rholland@wetaskiwin.ca
Economic Development P.O. Box 6210 Wetaskiwin, Alberta T9A 2E9 www.wetaskiwin.ca
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WESTERN INVESTOR MAY 2012 www.westerninvestor.com
FEATURE Coal, gold and energy speculation lure investors to Northern B.C., but some see trouble ahead
/PSUIFSO HBNCMF GLEN KORSTOM/WI STAFF WESTERN INVESTOR n Tumbler Ridge, where houses sold for $25,000 a decade ago, it is hard to find one now for $200,000 as three coal mines hit their stride.
In Fort St. John, gas and oil plays have driven house prices up 15 per cent in the past year, and long-suffering Kitimat could be poised for a pipeline-fuelled housing boom. It is expectations that northern B.C. will drive most of the province’s growth during the next decade that has sparked a real estate revival. But some warn the north could be a minefield for investors. Real Estate Investment Network CEO Don Campbell said it makes sense to invest in rental properties in towns like Fort St. John and Dawson Creek because of area mega-projects, high rental rates and relatively low vacancy. But he said investing in homes in other parts of the north, such as Prince George and Kitimat, is riskier because few of the planned mega-projects have been confirmed. A March Canada 1 Credit Union report projected that strong demand for coal, natural gas and copper would spur development across B.C.’s north in the next few years and drive a more robust economic growth than Metro Vancouver’s. Campbell agreed with the report. He said B.C.’s north provides some of the best real estate investing opportunities in the province. But he cautioned that investors could get caught up in speculation. “We saw that happen in the leadup to the Olympics,� Campbell said. “Everybody ran to Squamish because they thought it was next to Whistler. The thing they didn’t understand was that there’s no mountain there for skiing.� Speculation over northern B.C. mega-projects and job creation includes the possibilities that:
Photo: Mitch Collins/Century 21
*
This Fort St. John house sold recently for $579,000.
/PSUIFSO # $ BWFSBHF EFUBDIFE IPVTF QSJDFT
•Enbridge Inc. will win approval Community Price March 2011 Price March 2012 to build its $5.5 billion Northern $242,936 $241,704 Gateway pipeline from the Alberta Prince George $171,909 $168,907 oilsands across northern B.C. to a Prince Rupert Fort St. John $308,622 $340,207 new marine terminal in Kitimat; •BC Hydro’s $8 billion Site C Fort Nelson $321,845 $344,050 dam project in northeast B.C. will be Terrace $220,213 $200,926 approved; Kitimat $142,137 $170,103 •eight mines generating $3.5 bilSource: BC Northern Real Estate Board lion in economic activity will open following the $400 million electrification of $3.3 billion, has seen its share values cut in half Highway 37; and since then as the price of coal has plunged. • high demand for coal from China’s steelYet real estate investors are salivating at the makers will continue to keep three Walter prospect of new jobs creating a population Energy Inc. metallurgical coal mines near boom and a housing crunch. Tumbler Ridge running near capacity. But there are red flags waving: 1SJDF TVSHF • the Northern Gateway pipeline threatens to At the end of 2011 the price for an average be derailed by loud and local opposition: every detached home in Fort St. John was $323,608. major town council along the B.C. route, plus By March, according to BC Northern Real most native bands and environmentalists, are Estate Board statistics, that price was 15 per strongly against it. As well, TransCanada cent higher at $372,143. Corp. has presented an alternative pipeline Fort St. John realtor Mitch Collins said the option that would link the Alberta oilsands to community’s small size adds to housing-price Quebec refineries and Atlantic ports; and volatility and that home values have actually • Walter Energy, the Alabama-based mining risen about half that 15 per cent figure. giant that bought Western Coal last year for He added that even if BC Hydro’s proposed
Site C dam hits snags, investing in the region makes sense. “We’re just seeing the tip of the iceberg. There are major projects that are moving forward right now that will have dramatic impact. That’s why there’s a lot of people investing in this region.� Maple Ridge chiropractor Matt Boser started buying multi-family properties in natural gas-rich Dawson Creek in 2008. He now owns 20 units in Dawson Creek and nearby Fort St. John, where a $297.9 million hospital is under construction. All of Boser’s homes are rented. The average one, he said, brings in about $2,500 per month in rent whereas his mortgage, taxes, property management expenses and utility costs are about $2,100. “The mortgages are being paid down every month [in Fort St. John and Dawson Creek],� Boser said. “There’s positive cash flow, and the value of the properties are going up. That’s the key. You don’t want to buy a place that has great cash flow but is going down in value.� In Kitimat, average house prices have shot up from $142,000 in the first quarter of last year to $170,103 as of March 31 of this year, but house prices in Prince Rupert have fallen from two years ago, as they have in Prince George. Chris Mapson has experienced that fall. He and his wife lived in Prince George between 2007 and 2010, then moved to Kelowna. They had bought a home in Prince George for $329,000 in 2007 but were unable to sell if for $290,000 in mid-2010. After showing the home 65 times and getting no offers, they decided to rent it because the cash flow was more than their cost to rent a place in Kelowna. The experience has left Mapson skeptical about home prices spiking across the north. He said there are pockets of northern B.C. that are great places in which to own property, but investors should do their homework and not be lulled into a sense of false security by projections. “There are spin doctors who are cooking it up and northern economic development people who are spinning it one way,� he said. “There’s a lot of smoke and mirrors.�◆
"MCFSUB
Break Out of the Box Land...red tape‌business costs‌they can have any transportation & logistics business feeling boxed in. Get your business freedom back 30 minutes south of Edmonton, where red tape is a bad word, there’s affordable land to spread out on, business costs are competitive, a nose to the grindstone workforce has your back thick or thin, and there’s easy access to major rail, road, and air linkages. Home Hardware chose us as its distribution hub for western Canada; Santa Claus considered us.
City and County of Wetaskiwin, Town of Millet
Call 780.361.6231 or visit WWW.JEDIALBERTA.COM
B22 Alberta
Val Toffoli
www.westerninvestor.com MAY 2012WESTERN INVESTOR
Selling Edmonton since 1987
Phone: 780-707-9395
FOR SALE
REALTY EXECUTIVES POLARIS 4107 - 99th Street, Edm, AB T6E 3N4 “>ˆÂ?\ĂŠĂ›ĂŒÂœvvÂœÂ?ˆJĂƒÂ…>ĂœÂ°V>ĂŠUĂŠĂœĂœĂœÂ°Ă›>Â?ĂŒÂœvvÂœÂ?ˆ°Vœ“ APARTMENT BUILDINGS:
s 2 Units – Full Side by Side Bi-Level Duplex. Great West End Location. Needs some TLC & Priced Accordingly! ONLY s 12 Ste Character Bldg. Central McDougal. Over 6.5% cap rate. Some upgrades. 3ELLER OPEN TO 2EASONABLE /FFERS! s 20 Stes – Great Central Location – Extensive Upgrades – Lge Stes – Excellent Mix – 10 Yr Assumable Mtg – 2nd VTB Mtg possible. #AP 2ATE
16 UNIT CONDO COMPLEX Asking:
$ 2,800,000 Contact: OWNER adolf007@telus.net (780) 465 - 0246 (780) 707 - 4904
WANTED: APARTMENT BUILDINGS Have QualiďŹ ed Buyers Ready to Purchase!
FOR SALE
PUBS
Vegreville Garden Inn
For Sale
44 Room Motel on 7.69 Acres
Broker Frazier,
lance.frazier@dtzbarnicke.com
Carolyn Bull, Associate
RICK D. JENKINS 780-990-6120 cell
POLARIS REALTY
Email: rdjri@telus.net Commercial Realtor
INVEST IN LAND WITH DEVELOPMENT POTENTIAL. s ACRES ON ,AKE -C'REGOR s (OUR AND MINUTES 3% OF #ALGARY s !PPROXIMATELY MILE OF SHORELINE s 'ENTLY SLOPING s 3UITABLE FOR LAKE VIEW LOTS OR GOLF COURSE s 6ENDOR WILLING TO LEASE BACK
$2,700,000 mpjohnson41@hotmail.com
7.93 ac C3 Zoning on Hwy 13 opp. of Airport $799,000
Waterfront Pub & Detached Liquor Store
Free Standing Strip Mall in Lloydminster $555,000
Land, buildings and business Prince Rupert, BC $2,500,000
Newly built SXS duplex in Edmonton Rent both sides or live in one & rent the other $334,900 ea side
BC’s fastest growing super port city
For Lower Mainland Pub Opportunities call:
JOHN JOHNSON Tel: 604-319-2504 Fax: 604-463-5287
carolyn.bull@dtzbarnicke.com
PRUDENTIAL STERLING REALTY LTD.
Toll Free:1 855 421 1488 dtzbarnicke.com
COMMERCIAL (RE/MAX Excellence)
LAKEFRONT PROPERTY
42 UNIT APARTMENT in Leduc, near 50% twos and threes. 1981. Balconies above grade- 6 cap 2 ACRES on Ellerslie Road in Edmonton, busy south side corridor. Now being rezoned to DC2 for commercial, retail usage development$2,170,000 82 ACRE PARCEL adjacent to commercial corridor along St Albert Trail. Proposed land use concept to Mixed Use for Residential/ Commercial/Business-$12,300,000 68 FULLY SERVICED MOBILE HOME VACANT TITLED LOTS located within a modern Mobile Home Park in High Level, AB. MLS # E1014318 Price slashed to $975,000-PENDING I need investment properties for all ICI categories. Looking for apartments, commercial/retail buildings, industrial properties etc.
1.97 ac Industrial land in Stony Plain fully serviced ready to build warehousing etc. $580,000
Excellent opportunity to acquire this 44 room motel in Vegreville Alberta. The lodge contains a 200 seat restaurant , 75 seat lounge with 10 VLTs and a nightclub. Price $2,590,000 Lance
INVESTMENT PROPERTIES FOR SALE!
17718 - 64th Ave Edmonton, AB T5T 4J5 (780) 429 - 1200 1(866) 481 - 2950
4 Plex in Evansburg
(Sold)
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Newly built 1350 sq bi-level in Athabasca $299,900 Marble Slab Ice Cream in Edmonton
$240,000
Goldy Singh Empire Real Estate Group 780 499 8500 goldy122@hotmail.ca
1-800-661-6988
Edmonton’s Business & Investment Specialists
20,000 SF+ OFFICE/RETAIL SPACE
JASPER AVE CONDOS W/TENANTS
LEDUC PLAZA LEASE SPACE
Fort Road Centre - $16.00/SF
1789 SF - $579,000 2216 SF - $699,000
6250 - 50 Street Leduc - 5 Units Left!
BUSINESS ONLY
zSelf Storage Facility - 177 Units + 100 RV on 3.88 ac. - $1.9M
zLebanese Restaurant - Bus. Only. Great Location - $495,000
CALL MIKI O’REE AT 780.641.1338
CALL AYAZ OR SAM AT 780.641.1320
MULTI-FAMILY
zWok Box Franchise - Two locations in Red Deer. May be purchased individually or together. North - $309,000 South - $394,999 zWorth Your Buck - Dollar Store. Riverbend Sq. - $125,000 + Inv
CALL MIKI O’REE OR SEIF JIWAJI AT 780.641.1338 zBottle Depot Businesses - 4 Locations in AB. Call For Info BOTTLE DEPOT BUYING & ORIENTATION - BOOK NOW! ***CERTAIN CONDITIONS APPLY***
zN Edm Coffee Franchise - Business Only - $215,000 zAuto Wash w/Land & Bldgs - Prime location in NE Edm - $2.99M
CALL RAJAN NULLIAH 780.441.5419
INVESTMENT z Centre 16 - Spruce Grove Retail Building - $1.6M z Jasper Avenue Commercial Condos - 1789 SF and 2216 SF. With tenants. Well maintained. Ample parking. Priced to sell! 1789 SF - $579,000 2216 SF - $699,000
CALL AYAZ OR SAM AT 780.641.1320
z2 x 9 Units - Strathcona - $2,300,000 z13 Units - Eastwood Strata Titled - $1,300,000 z15 Units - Glenwood - $1,500,000 z22 Units - Central McDougall - Contact For Pricing
CALL MIKI O’REE OR SEIF AT 780.641.1338
LAND z Nisku Commercial Land - 2 Lots Left! Zoned CS - PENDING
CALL AYAZ OR SAM AT 780.641.1320
LEASING z LEDUC PLAZA - 5 Units Left! 1100 SF to 5500 SF. Join Quiznos, Second Cup, Pizza Hut, Sleep FX and more! - $20/SF Plus Op
CALL SAM NARAYAN AT 780.641.1320 z Office or Retail Space - Up to 20,000 SF available. Fort Road Centre. 13415 Fort Road. Retail or office uses. $16/SF Plus Op
CALL MIKI O’REE OR SEIF JIWAJI AT 780.641.1338
w w w.RemaxComm.ca
Alberta B23
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
"MCFSUB
$58,000 housing lots hit market
T
he prospect of finding a more affordable place to build your dream home in the Highway 2 corridor between Edmonton and Calgary recently improved in the community of Didsbury. A developer there is now offering singlefamily lots in the range of $58,000 (including GST), down from around $95,600. The lots are in what’s known as Phase 4 of the Valarosa Crossing subdivision, a sixphase project being developed by Terra Sar Developments. Didsbury, which has grown to a population of more than 4,000, is situated just west of Highway 2 about 40 minutes north of Calgary International Airport. It’s the first community north of Airdrie, Calgary’s largest source of commuters. Didsbury has been rated in the past as one of Alberta’s top-five growth communities, an honour the town trumpets on its web page.
East Village Project marks milestone
R
edevelopment of Calgary’s East Village (EV) neighbourhood by the Calgary Municipal Land Corporation (CMLC) recently marked another significant milestone. The city-owned CMLC opened a $2.4 million experience centre in late March. The 8,000-square-foot centre will showcase planned developments in East Village, including those ready for construction in the former slum area that’s located just east of the heart of downtown. The EV experience centre is described as a hybrid. It combines a visitor information cen-
PRIME YUKON INDUSTRIAL PROPERTY 126 Industrial Road Whitehorse, Yukon
tre that highlights the East Village story and the neighbourhood’s evolution with a sales centre showcasing the residential units and stylings of the neighbourhood’s “pioneering developers.� “The partners chose to adopt a destinationstyle approach to promoting East Village,� said CMLC chairman Lyle Edwards. Interested buyers are able to choose from among a variety of developments planned along RiverWalk, the Bow River and Fort Calgary. Prices in one of the first highrises expected to be finished, a 191-unit building from Fram+Slokker, range from about $193,000 to $640,000.
Building permits post increase
T
he first two months of the year produced a notable increase in building-permit activity in Alberta’s capital. The City of Edmonton granted permits for just over $441.3 million in construction in January and February of 2012. That’s a healthy increase of about 29.2 per cent from 2011, according to city statistics. Things were similar in Calgary, taking out one mega project at the airport that was approved in early 2011. According to City of Calgary figures, the city issued permits worth $609 million for the first two months of 2012, including permits for 838 new residential units. That’s an 88 per cent hike in new residential units over the same period last year.
Developer fees ruled illegal
T
he fallout from a key court decision in November 2011 is starting to show up in how some Alberta municipalities collect fees from the development indu stry. The Town of Canmore ceased collecting recreation levies from developers in early 2012, thanks to an Alberta Court of Appeal decision in a case involving the Town of Okotoks and a developer in that community.
PRIME HIGHWAY
COMMERCIAL t t t
5IF 3FHJPOBM $FOUSF PG &BTU $FOUSBM "MCFSUB -PUT OFYU UP PVS OFX )PUFM $POWFOUJPO $FOUSF BOE $BTJOP UP BDSF QBSDFMT TUBSUJOH BU QFS BDSF
Action Realty
1-867-667-2514
T
he race for space in Edmonton’s office market is expected to heat up very soon thanks to a resurgent oilpatch and the demand it is placing on office space in Alberta’s capital. The result: rents could increase by up to 20 per cent. According to Avison Young, while office vacancy actually jumped slightly in Edmonton for the first three months of 2012 to 9.7 per cent from 9.5 per Edmonton’s office rents could rise 20 per cent. cent, the fundamentals of the economy point to increased space demand. “As [drilling] rig activity increases, administrative office requirements for energy companies grow, in addition to those for construction, engineering and professional service firms, which supply the energy sector,� Avison Young noted in its2012 Q1 Edmonton Office Report. “With strong rig activity expected to continue in Alberta, we are forecasting sustained demand for office space and consistent increases in lease rates.� There was net negative absorption in the first-quarter office market in Edmonton, according to Avison Young’s figures, though that was linked primarily to the suburban andgovernment sectors of the market. Energy and pipeline companies such as Enbridge have been very active. In just over six months Enbridge has swallowed up over 223,000 square feet of space in three different buildings in the city’s financial district, where asking base rents for the best space are in the $25-per-square-foot range. Enbridge’s space acquisitions have financial-district landlords looking at rent hikes in the range of 20 per cent, according to Avison Young. Without the pipeline giant’s pickups in early 2012, the downtown financial district vacancy rate would have been 2 per cent higher in the first quarter. Avison Young is predicting a “healthy and robust� Edmonton office market in the near term. “Tenants should prepare for rising rental rates, and landlords can expect existing tenancies to expand while developers capitalize on market demand and build new office buildings, beginning in the suburbs,� Avison Young predicted.
The court essentially ruled that Okotoks was imposing off-site levies not allowed for under the province’s Municipal Government Act (MGA), and that those levies were not obtained under a voluntary agreement between the developer and the town. The issue was summed up in a circular from the prominent Alberta municipal law firm of Fraser Milner Casgrain. “The result for now is that these sorts of [non-voluntary] levies [for recreation facilities, engineering reviews, water licences] are no longer legally permissible,� the firm said.
The court found “that a municipality cannot use its natural person powers in a coercive fashion such as this and has no lawful authority to impose payment of offsite levies which are not specified in Section 648 of the MGA.� While Canmore has ceased collecting recreation levies in the short term, the Bow Valley Builders and Developers Association, which represents the local development community, says it will continue to pay such levies in the long term, acknowledging their benefit to the community.◆ – Compiled by Dave Husdal
Newer Four-Plex Asking
146.5 ACRES RIVERFRONT
Private Sale
UĂŠ Ă?ViÂ?Â?iÂ˜ĂŒĂŠĂ€iĂŒĂ•Ă€Â˜ĂŠÂœÂ˜ĂŠÂˆÂ˜Ă›iĂƒĂŒÂ“iÂ˜ĂŒÂ°ĂŠ UĂŠ œœ`ĂŠÂ?ÂœV>ĂŒÂˆÂœÂ˜]ĂŠVÂ?ÂœĂƒiĂŠĂŒÂœĂŠĂƒV…œœÂ?ĂŠ >˜`ĂŠĂƒÂ…ÂœÂŤÂŤÂˆÂ˜}ĂŠ>Ă€i>°Ê UĂŠ Ă•Â?Â?ÞÊÀiÂ˜ĂŒi`ĂŠ>˜`ĂŠ>ÂŤÂŤĂ€ÂœĂ›i`ĂŠvÂœĂ€ĂŠ Vœ˜`ÂœĂŠVÂœÂ˜Ă›iĂ€ĂƒÂˆÂœÂ˜Â°ĂŠ UĂŠ >VÂ…ĂŠĂ•Â˜ÂˆĂŒĂŠÂˆĂƒĂŠĂ“ĂŠLi`Ă€ÂœÂœÂ“Ăƒ]ĂŠÂŁĂŠL>ĂŒÂ…]ĂŠ >˜`ĂŠÂ…>ĂƒĂŠwĂŠĂ›iĂŠÂ˜iĂœĂŠ>ÂŤÂŤÂ?ˆ>˜ViĂƒÂ° Call
ON N. SASKATCHEWAN
$585,000
MIKE for details at:
780-462-3405 or email: simrenvig@hotmail.com
1 of a kind view, privacy and exclusivity. 2 titles. 1 to 2 mile river views S & W. 2/3 treed. West of Edmonton. Fully serviced 2 bedroom on bank, quonset, double garage & RV shed. Seller realtors.
ROBYN C. PROPP s 780-499-1961 PROPP AGENCIES LTD robyncpropp@shaw.ca
FORT MCMURRAY – FOR SALE OR LEASE NEW INDUSTRIAL SPACE AVAILABLE – 2012
Prime commercial location on Industrial Road features 5200 sq ft on the main oor including retail area and large shop area at rear. Upper mezzanine is 2700 sq ft of open storage area and ofďŹ ces. The CIM zoning allows most commercial operations and the prime location close to the corner of Quartz & Industrial Roads ensures great visibility for your business. MLS #6959 $800,000 For further information and tours please contact: Ernie Bourassa, Dave Pearson or Darryl Weigand RE/MAX
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Photo: Re/Max Edmonton
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Call .JLF (FPSHF or #JMM 4DIPFNBLFS
(2006) LTD.
www.property-solutions.ca
B24 Alberta
www.westerninvestor.com MAY 2012WESTERN INVESTOR
Each office is independently owned and operated.
MARBLE SLAB CREAMERY s s s s s
4HE FRESHEST ICE CREAM ON EARTH 3UPER PREMIUM ICE CREAM IS MADE FRESH DAILY &RESH BAKED WAFmE CONES &RESH FRUIT CHOCOLATES CANDIES AND COOKIES 0ERSONALIZED ICE CREAM CAKES LITRES TO GO FUNDRAISING FOR ADDITIONAL FUNDS
This is a rare opportunity to acquire an established business in a high volume location. ZAK MIMOUNI 780-604-4001
RE/MAX Edmonton
INVESTMENT OPPORTUNITIES TRUMPETER POINTE VANCOUVER ISLAND, BC
COUNTY OF RED DEER, AB
CAMPBELL RIVER, BC
Agents: UÊÊ7>ÌiÀvÀ ÌÊ«À «iÀÌÞÊ> `Ê > iÊ Û iÜÊ`iÛi «i`ÊÀià `i Ì > Ê LÕ ` }Ê ÌsÊv ÀÊ-> i
UÊΰ£{Ê>VÀià UÊÎ ÇÊviiÌÊ vÊ7>ÌiÀÊ À ÌÊ UÊ< i`Ê iÀV > Ê ÕÀÊ {®Ê UÊÛ iÜÃÊ vÊ i À} >Ê-ÌÀ> } Ì
UÊ ÝiVÕÌ ÛiÊV Õ ÌÀÞÊ Û } UÊ{xääÊõ°vÌ°Ê{ÊLi`À à UÊLÕ }> ÜÊÜ Ì ÊÎÓÊ>VÀià UÊÃÕL` Û Ã Ê« Ìi Ì >
JERRY RACZKOWSKI 780-932-2121
e-mail: jrcoach@telus.net
RE/MAX Real Estate Commercial Division
TWO GREAT
OUTSTANDING BUSINESS!
Investment Opportunities in Grande Prairie, Alberta Acreage Subdivision development
$549,000 ß 70.65 acres only minutes away from city ß A great mixture of trees and rolling hills ß Perfect place to build a dream home! ß All the hard work has been done in this potential development Investment Sale!
$849,800 ß 10.5 acres property zoned Manufactured Home Community ß Vacancy in Grande Prairie is extremely low, people are looking for lower priced homes ß Basically in town and paved to the front of the lot
SHANE ZEYHA (780) 933-8878 Shane@keyz.ca www.keyz.ca
Attention
REACH QUALIFIED BUYERS FOR YOUR LISTINGS call Gary
Takahashi
toll-free: 1-800-661-6988
Retail/Medical/Professional Building High visibility retail/office 2200sf single level building on a 3,175 sf lot. Perfect for owner-user retail, professional service or medical. Versatile building for a multitude of uses. Tenant will lease back at $19 /sf net, which makes this a great investment as well. 830 Edmonton Trail NE $735,000 Sano Stante | 403-289-3435 RE/MAX Real Estate Central Email: info@sanostante.com Website: www.sanostante.com
Complete business package ready for a new owner. Building, inventory, fi xtures, coolers and delivery van.
DEVELOPMENT OPPORTUNITY
tel: (604)
669-8500 or fax: (604) 669-2154 gtakahashi@westerninvestor.com
SORRY, YOUR AD IS MISSING... Great opportunity to develop on sites zoned R4 (High Density Residential). Adjacent to adult living community and near the Hospital & Health Centre. 1.4 acre site $499,000 or 0.76 acre corner site $ 200,000.
CALL
RANDY PLANT
780 361 9215 RE/MAX
WETASKIWIN 2007
780 352 9241
COMMERCIAL REAL ESTATE, FRANCHISES & BUSINESS OPPORTUNITIES IN WESTERN CANADA
For advertising information call 604-669-8500 or 1-800-661-6988 toll free anywhere in Canada or the USA.
Each office is independently owned and operated.
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Alberta B25
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
Each office is independently owned and operated.
EDMONTON AL BERTA
WHITECOURT, AB
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Renford Inn Motel – 112 rooms, 3.73 acres with enough land to add 60 rooms. Excellent hwy location. Sales: $1,600,000 (March yr end) List: $4,950,000 Quizno’s Franchise – 5 yrs. operating - 5 yr. lease. Good rev and hwy location. Best Pub & Restaurant in Town – Excellent hwy location, centre of motel row. Sales: $1.6 Mil (end of Dec). Over 100,000 Net. 110 seat rest., 160 seat lounge, 890 seat banquet room. 6 VLT’s. Owner retiring. Asking only $327,900
CATCH THE BOOM!
Beautifully finished offi ce condo in great central location close to the river valley parkway system. 2476 sq.ft. on 2 levels plus a finished 1023 sq.ft. basement for a total of 3499 sq.ft. of usable office space includes a total of 12 offices, board room, 2 kitchen areas, 3 bathrooms, large front reception area, and storage space. Property has 7 surface parking stalls with the possibility of leasing extra stalls. Newer shingles (October 2010), and air conditioning. 2 separate condo units with separate titles. Condo fees are $850 per month. $995,000
Wayne Moen and John VanRiper
RE/MAX River City (780) 439-7000 waynemoen@remax.net • www.waynemoen.com
OPPORTUNITIES Brand New Office/Retail MLS® #15604 - Building in Downtown Medicine Hat - 935 to 4300 sq ft - Starting at $12/sq ft + operating costs
$2B Expansion at Cold Lake oilsands Take advantage of the economic spin offs
R3 SITE FOR 14 - 4 PLEXS AT
$798,000
75.05 ACRES DEVELOPMENT LAND Business & Building For Sale - Laundromat and dry cleaning business - Newer, state of the art equipment - Medicine Hat’s only solvent free cleaners. - Selling due to health reasons - $1,200,000
COLD LAKE NORTH
$1,050,000
DEVELOPMENT SITE 5.08 ACRES DESIGNATED MULTI FAMILY
$405,000
17.07 ACRES RESIDENTIAL Envirogeotesting Business for Sale - Land, Building and Business - Selling due to health reasons $1,100,000
PETE VANDERHAM
403-502-3200 403-526-1111
SUBDIVIDSION 63 LOTS ZONED R1B
$770,000
7.2 ACRES ZONED HIGHWAY COMMERCIAL Services prepaid
$749,900
pvanderh@telusplanet.net www.grouponerealty.ca
Larry Melanchuk, Associate Broker
RE/MAX Medalta Real Estate
RE/MAX Cold Lake 2000
Cell: 780.826.0100 TF: 1.800.707.8374
Leo: 780-778-1207 Brenda: 780-778-6678 RE/MAX Advantage WCT
leozelinski@remax.net www.whitecourtrealestate.com
INVESTMENTS CALGARY AREA
UÊ£nääÊõ°vÌ° industrial building ÊqÊ ÇÊÝÊ£ÈxÊvi Vi`Ê Ì UÊ 310 acres,Ê Õ Ì> ÊÛ iÜ]ÊÓÊÌ Ì iÃÊ *À Vi`ÊÌ ÊÃi UÊ AIRDRIE qÊxäääÊõ°vÌ°Ê `ÕÃÌÀ > ÊL>ÞÊ v ÀÊÃ> iÊÜ Ì Ê > iÕ«Ê> ÀÊÕ ÌÊEÊ viÀÀi`Ê i>ÌiÀÃÊqÊiÝVi i ÌÊà « UÊ East Balzac Ê q Ê Ê v Ê > } > À Þ Ê q Ê £ >VÀiÃ]Ê£ÓxäÊõ°vÌ°ÊLÕ }> Ü]Ê{ä½ÊÝÊn +Õ ÃiÌ UÊ CAR WASH ÊqÊ}Ài>ÌÊ ÛiÃÌ i ÌÊqÊV> Ì `>Þ UÊ 60 seat ÀiÃÌ>ÕÀ> ÌÊiÝVi i ÌÊÀiÌÕÀ UÊ CROSSFIELD – 2 – 2 acre industrial lots – for sale or lease UÊ LargeÊindustrial complex Êv ÀÊÃ> iÊ ÀÊ i>ÃiÊÌ Ì> Ê vÊ ÎäääÊõ°vÌ°Ê vÊLÕ ` }Ê Ê LÕ ` }ÊV> ÊLiÊ i>Ãi`ÊÃi«>À>Ìi ÞÊÊqÊ> Ê ÊÈ°ÇÊ>VÀià UÊ CARSTAIRS –Ê iÀ V> Ê ÌÃÊv ÀÊÃ> iÊ priced to sellÊqÊV> Êv ÀÊ ÀiÊ`iÌ> à U 64 seat restaurant Ê Êv>ÃÌÊ}À Ü }Ê V Õ ÌÞÊ north of Calgary]Ê«À ViÊ V Õ`iÃÊ > `]ÊLÕ ` }ÊEÊiµÕ « i Ì UÊ 137 acres Ê `ÕÃÌÀ > Ê > `Ê> iÝi`Ê Ì Ê Crossfield]ÊÃiÀÛ ViÃÊV ÃiÊLÞ]ÊÀi>`ÞÊÌ Ê LiÊ`iÛi «i`ÊqÊiÝVi i ÌÊ« Ìi Ì > UÊ 141 acres Ê> iÝi`Ê Ì Ê Crossfield]Ê iÝVi i ÌÊ« Ìi Ì > UÊ 132 acres Ê highway #2 frontage ]Ê ÓäÊ ÕÌiÃÊ ÀÌ Ê vÊ > }>ÀÞÊqÊV> ÊÌ `>Þ UÊ 279 acres Ê V>Ìi`Ê iÝÌÊÌ Ê À ÃÃv i `ÊqÊ « Ãà L iÊ`iÛi « i ÌÊ« Ãà L Ì iÃÊ ÉUÊ 137 acres ÊÜ Ì Ê#2 highway frontageÊqÊ iÝVi i ÌÊ>VViÃà UÊ 320 acresÊiÝVi i ÌÊv>À > `ÊqÊÓäÊ ÃÊ Ê vÊ > }>ÀÞÊÊÊSOLD UÊ 151 acres Êi>ÃÌÊ vÊ A ir drieÊqÊ PRICED TO SELL UÊ 79 acres Ê iÃÌiÀ iÀiÊqÊiÝVi i ÌÊ `iÛi « i ÌÊ« Ìi Ì > For more information on these and other properties
call
DON SACKETT RE/MAX ACA REALTY
www.coldlake.info
(403) 946-5657
A Division of Cold Lake 2000 Realty. Independantly owned & operated.
www.donsackett.com remaxaca@telus.net www.acarealty.com
ACA Realty
Each office is independently owned and operated.
B26 Alberta
www.westerninvestor.com MAY 2012WESTERN INVESTOR
WESTERN CANADA’S GUIDE TO COMMERCIAL REAL ESTATE, FRANCHISES AND BUSINESS OPPORTUNITIES
Marketing commercial real estate in Western Canada. In Print. On Line. JUNE ISSUE: AD DEADLINE MAY 14 Report: Motel/Hotel Market U.S. commercial real estate Waterfront deals Franchise News Lifestyle Properties Regional Roundups: BC: Cariboo region AB: Grande Prairie MB: Brandon Spotlight: Belle Plaine, SK
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B27
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
COVER Saskatoon’s economy leads the nation, and high-end developers are eagerly jumping on board
WESTERN INVESTOR askatoon-born Paul Leier, 47, president of Cavalier Enterprises Ltd., has had a front-row view of the city’s transformation. Now, as his company opens Saskatoon’s first ultra-luxury hotel, Leier says his hometown has shifted into a new high gear.
4
Some would say overdrive. With the lowest office vacancy rate in 20 years, a booming retail sector, surging job growth and an accelerating economy that puts Alberta’s biggest city in the dust, Saskatoon is among the fastest-growing cities in Canada. In fact, according to some analysts, the only city that can match Saskatoon’s stride is Regina. The Conference Board of Canada’s spring metropolitan outlook puts Saskatoon on top in the country for 2012 with gross domestic product growth of 3.6 per cent, followed by Calgary at 3.5 per cent and Edmonton at 3.2 per cent. When Saskatoon recently commissioned consultants to look at the future, even the most bullish of its residents were likely surprised. Basically, the experts told the city to forget about its go-slow past and get ready for a fastforward future. Vancouver-based MDX Development’s 215-page report forecasts: •a population increase of 100,000 people within 16 years, to 350,000; •a 40 per cent increase in office space to 6.8 million square feet; •a 7.5 million-square-foot increase in industrial demand, to 22.3 million square feet; •3.1 million square feet of new retail space; and •at least six more new hotels. “This city has changed forever,” said Leier. “We have reached a new plateau.” He says it was spike in housing prices and
stars that gave him his first signal of a seismic shift in Saskatoon’s economy. For years, he said, $100,000 would have been considered a high price for a Saskatoon house. “Then, suddenly, new-home prices were $250,000 or more.” This March the average resale house price was $318,946, up 9 per cent from a year ago according to the Saskatoon Region Association of Realtors (SRAR). Sales in the first quarter of this year were up 14 per cent from the same period in 2011. Most notable: sales of houses priced in the $450,000 to $500,000 range soared 243 per cent in March compared with March of 2011, said SRAR executive officer Jason Yochim. The economic uplift is also seen in what Cavalier Enterprises – which includes three Leier bothers – has just opened: a high-end boutique hotel, where south Saskatchewan River-view suites go for up to $329 per night. The building was created through the upscale renovation of a Leier-owned apartment site. “The calibre of The James sets it apart from all other hotels in Saskatoon,” said Leier, “It is a testament to the strength of the local economy and the type of traveller the city now attracts.” These travellers include engineers, investment bankers and other high-rolling resource executives riding Saskatchewan’s current potash, mining and oil boom, he said.
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The province, however, does not appear to be in a boom but, rather, at the beginning of a perhaps decades-long upward trajectory. Saskatchewan has the world’s largest potash reserves – it accounts for 70 per cent of world sales – and prices are expected to soon hit record levels of around US$477 per tonne for a key fertilizer product with intense global demand. Saskatchewan expects its oil revenues to
Photo: Cavalier Enterprises Ltd.
FRANK O’BRIEN
Photo: Cindy Moleski
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TOP: Saskatoon’s first ultra-luxury hotel, The James, opened this year. INSET: Paul Leier, president of Cavalier Enterprises: “[Saskatoon has] reached a new plateau.”
climb to $1.6 billion in 2012, up $129 million from 2011, on forecasts for higher prices and production, mostly from the giant “sweet crude” Bakken oilfields. It is estimated Saskatchewan also has two billion barrels of heavy oil locked in its untouched oilsands deposits. In addition, the province is rich in diamonds and uranium, which have each fuelled a parallel exploration wave. Little wonder then that Saskatchewan’s public debt was estimated at $3.8 billion as of March 31, its lowest level in 25 years. Saskatoon, the largest city in the province, is where the resource boom is being felt the most. A Porsche dealer opened in 2010 and other high-end retailers are rolling into the city. Cavalier is planning to join this rush by planting a new hotel in River Landing, now being developed as a mixed-use retail, residential and entertainment enclave near downtown Saskatoon.
River Landing is divided into two phases. In Phase I, the city will be developing the former Gathercole industrial site and area east of the Senator Sid Buckwold Bridge and south of 19th Street. Phase 2 will include parcels of land along the riverbank bounded by the bridge to the east and Victoria Park to the west, the former A.L. Cole Power site, and a number of old city electrical buildings and adjacent properties. Overlooking the river in the downtown, River Landing represents the most significant undeveloped real estate lands in the province, according to the city. Victor Majors Investment Corp., Tonko Realty Advisors Ltd. and Cavalier are leading the development. The team’s vision is for a 10-storey hotel – to be developed by Cavalier – residential towers up to 27 floors, retail space and a 17-storey office tower, all around a central plaza. Public amenities also include the
Please see Saskaboom page B28
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B28 Saskatchewan SASK MOTEL FOR SALE 300. '6-- 4&37*$& '3"/$)*4&% .05&-
www.westerninvestor.com MAY 2012WESTERN INVESTOR
4"4,"#00. from B27 Remai Art Gallery of Saskatchewan and a centre for performing arts and riverside walkways.
Phone: 306-783-1777 Four Seasons Realty Ltd
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Despite its strong economy, Saskatoon continues to offer incentives to those building rental housing, in recognition of one of the lowest rental vacancy rates in Canada. Under the Saskatoon’s New Rental Construction Land Cost Rebate Program, a developer can receive a $5,000 capital grant for every rental unit created, plus a five-year incremental property tax abatement. “I think the incentives and the tax holiday that the city is offering definitely brought us in early into Saskatoon,� developer Sean Roy, CEO of B.C.-based Broadstreet, told the CBC. “But Saskatoon itself has a 2.6 per cent vacancy rate and it was a community that we
SASKATCHEWAN Alberta
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The office space will be welcomed in Saskatoon, according to Colliers International, which notes the city’s overall office vacancy rate has fallen to around 2.2 per cent, the lowest level in at least two decades. Tom McClocklin, president of Colliers McClocklin Real Estate Corp. , said the vacancy in all asset classes will remain low in 2012, rental rates will be stable or even rise and development will continue in industrial, retail and office sectors. “Demand for office space has been exceptional as existing tenants in Saskatoon require additional space and many new companies related to the resource and engineering sectors locate to our city,� McClocklin said. SNC Lavalin, Golder Associates and K+S Potash Canada are all in, or moving into, new spots downtown, he noted. Besides new space, renovated buildings are acquiring major clients. Some major transactions include WorleyParsons Ltd. leasing two floors in the Birks Building, Stuart Olson Dominion occupying the Arthur Cook Building on 24th Street East and Canpotex expanding its space by 30 per cent in theScotia Bank Building. In the industrial sector, Saskatoon rental rates
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are expected to stabilize at $12 per square foot for new construction and $9 to $11 per square foot for existing space. About 500,000 square feet of industrial space were added in 2011, and speculative construction continues, according to Colliers. Industrial land prices now range up to $400,000 for a fully serviced acre. All of the new construction has created an employment boom in the city and across the province. Saskatchewan’s Construction Sector Council reports the province’s construction jobs have increased by almost 70 per cent since 2001, from 23,000 construction workers to 37,500 workers in 2011. Industry leaders now predict that new housing construction and renovation work in the province will likely continue at a steady pace until 2020.
Prince Albert SASKATOON
âœŞ Moose Jaw
Yorkton
âœŞ Regina
Swift Current
U.S.A.
4BTLBUPPO 4, Population 272,000 Rental vacancy rate 2.6 per cent Class A Office vacancy rate 1 per cent Unemployment rate 6 per cent Web site www.sreda.com
looked at as a target.� Broadstreet accounts for nearly half of the most recently built apartments in Saskatoon. This is the biggest gain in rental construction since the 1970s, according to Alan Wallace of Saskatoon’s planning and development services branch. The typical rent for a two-bedroom suite, $1,200 per month, puts the Broadstreet projects on the higher end of the rental market. But they’re being snapped up in what is now Canada’s go-to city for young professionals.◆
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www.westerninvestor.com REGINA CONNECTION! MOTELS 22 unit Bonnyville 24 unit Drayton Valley BOOMIN oil and Gas area! 24 Agassiz - great opportunity revenue up! Craven! Great Sask motel! 9 unit plus licensed restaurant! 7100 sq ft retail on major street in Regina $789,900
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WESTERN INVESTOR MAY 2012 www.westerninvestor.com
INDUSTRIAL SPACE FOR LEASE Great Plains Industrial Park, Regina SK
- Three bays with 10,800 sf to 32,400 sf contiguous space - 28 foot ceiling heights - Dock and grade level doors - Over 30,000 sf compound - Immediate Highway #1 access
Contact: Jeff Sackville 306.359.9799 www.avisonyoung.com
EQUITY LOANS LENDER DIRECT FOR MB, SK & AB PROPERTIES RESIDENTIAL & COMMERCIAL
CALL 1 866 405 1228
FOR SALE FURNITURE STORE BUSINESS & LAND Maple Creek, SK
Furniture store, established, profitable, 11 years in business. Fantastic reputation. Located in Historic building.
Call
306.741.4373
www.weswood-opportunity.com
-
INVESTMENT OPPORTUNITY 2174 Airport Drive, Saskatoon, SK Building Size: 28,663 sq. ft. Land Size: 1.33 acres , Sale Price: $4,500,000.00 Contact: Jim Wotiuk
INVESTMENT OPPORTUNITY 701 - 45th Street, Saskatoon, SK Land Size: 321.5’ x 445.9’ = ±143,356.8 sq. ft. Building Size: ±89,817 sq. ft. Net Income: $673,627.50 Annually Sale Price: $8,200,000 (8.2 Cap) Contact: Ken Kreutzwieser
ICR Commercial Real Estate icrsaskatoon.com ME
INVESTMENT OPPORTUNITY 2410 22nd Street, Saskatoon, SK Available Lease Space: 63,101 sq. ft. Land Size: 5.1 acres Annual Net income: $1,150,000.00 (2013 est.) Sale Price: $13,750,000.00 Contact: Jim Woytiuk
FOR SALE - GREAT LOCATION 3062 Millar Ave, Saskatoon, SK Building Size: 18,546 sq.ft. Land Size: 38,332 sq. ft. (0.88 acres) Sale Price: $2,750,000 Contact: Stacy Dybvig
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“Saskatchewan’s largest commercial real estate company”
NT
Each office is independently owned and operated.
Attention
Restaurant in Tisdale, SK
Agents:
REACH QUALIFIED BUYERS FOR YOUR LISTINGS call Gary
Takahashi
toll-free: 1-800-661-6988
• • • • • •
White Fox Hotel • • • • • • • •
85 seat beverage room off sale 25 seat covered deck VLT’s 2000 sq ft main floor living quarters 5 guest rooms 10 min drive from Nipawin, SK Services large recreational area MLS® #419375
tel: (604)
669-8500 or fax: (604) 669-2154 gtakahashi@westerninvestor.com
110 seat restaurant 40 seat lounge Fully equipped Parking Very close to RecPlex and College $299,000
Melfort SK
ANDY EVERTON Sales Agent 1-306-921-9396 Colleen Ratcliffe 1-306-921-8637 RE/MAX Keystone Realty 1-306-752-8470
SORRY, YOUR AD IS MISSING... COMMERCIAL REAL ESTATE, FRANCHISES & BUSINESS OPPORTUNITIES IN WESTERN CANADA
For advertising information call 604-669-8500 or 1-800-661-6988 toll free anywhere in Canada or the USA. GRAIN LAND INVESTMENT OPPORTUNITIES 25% DOWN BALANCE MORTGAGE (OAC)
Call today for your opportunity
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LILY STEWART 306-750-1153 RE/MAX of Swift Current Shell Lake Gravel Land
MLS® 399171 $1,199,000 Investment 136.94 acres just west of Shell Lake with gravel reserves. Seller has exposed aggregate for visual inspection. Seller has hired Resource Management International and buyers have access to an Electromagnetic Conductivity EM31 report.
SE Perimeter Investment MLS® 401141 $2,200,000 160 acres for investment opportunity SE Ed Bobiash corner of Saskatoon 1 mile from city limits. Farm & Acreage Specialist New perimeter highway will border SE corner 306-222-7770 s ed@edbobiash.com of the land. Major urban development close www.SaskLand4Sale.com to this land. RE/MAX Saskatoon
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Upscale In Ferno’s Bistro expands
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innipeg’s first family of fine French food is expanding. In Ferno’s Bistro, a mainstay in Frenchspeaking St. Boniface for the past decade, has opened a second location in primarily English River Heights. Chris Kirouac and his father, Fern, have partnered in the new location, continuing a family tradition that dates back more than three decades. Fern Kirouac Sr., Chris’ grandfather, bought the Red Lantern in 1980 and La Vieille Gare three years later. Chris said many of In Ferno’s regular clients came from outside of the French neighbourhood anyway, so he didn’t see a problem moving into an Englishspeaking community. There will, however, still be some Frenchserving staff in the new location so longtime patrons can be served in their native tongue. “We’re still a French restaurant,� he said.
Ad agency signs Spiers
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he latest recruit to McKim Cringan George is one of the best-known athletes to come out of Manitoba in many years. The Winnipeg-based advertising agency has brought Adam Speirs, a two-time winner of the Manitoba Amateur who played a decade on the Canadian tour, on board as an account co-ordinator. “Business and golf go hand in hand, don’t they?� he said. When the 33-year-old decided it was time to hang up his golf spikes, one of his longtime sponsors, Drew Cringan – a partner in his new firm – convinced him to pass along his resume.
Peter George, the firm’s CEO, said Speirs brings a world of experience from the school of hard knocks. Plus, having an employee who has rubbed shoulders with golf’s greats is pretty cool, too. “He needed to raise money and sponsorships for his career. He has made connections on his own with the business community to raise money.� “Adam has competed in the U.S. Open twice. I’ve never had anybody working for me who has done that,� he said.
Manitobans are “sports crazy�
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f it wasn’t official before, it is now – Manitobans are sports crazy. There were more tickets sold to professional sporting events in the province in the past 12 months than in any year in the province’s history. Nearly 1.3 million fans were scanned in – turnstiles seem to have become a thing of the past – to see the Winnipeg Jets, the Winnipeg Blue Bombers and the Winnipeg Goldeyes. The previous high of less than 1 million tickets sold was set nearly two decades ago. The reborn NHL franchise led the way with a sold-out MTS Centre for 41 home games, good for more than 660,000 butts in chairs. The Bombers had the best year in their history, too, selling out eight consecutive regular-season games and one playoff game, for a total of more than 325,000. The American Association’s Goldeyes, meanwhile, led their minor league in attendance with more than 286,000 fans taking in 50 regular-season games and a pair of playoff contests. The unprecedented fandom for the city’s sports teams, however, has had a corresponding negative impact on attendance in the arts. The Winnipeg Symphony Orchestra, Royal Manitoba Theatre Centre, Manitoba Opera, Winnipeg Art Gallery and Royal Winnipeg Ballet all saw their attendance fall this past winter season. The Jets, meanwhile, are sold out for the next two years.
BRANDON, MANITOBA GROCERY STORE: 10,000 SQ. FT. 2 MILLION IN SALES, NEARLY NEW EQUIPMENT, STEADY CLIENTELE, GOOD LOCATION, GROWING TOWN. PRICE $999,000 MOTEL: TRANS CANADA HIGHWAY, FLAG MOTEL, WITH RESTAURANT, 60 ROOMS, SALES MILLION PLUS HOTELS: I HAVE RURAL HOTELS STARTING AT $299,000. GOOD FAMILY BUSINESS. MOTEL: 12 ROOMS WITH LARGE LIVING QUARTERS AND A RESTAURANT LOCATED IN WINDMILL COUNTRY. PRICE $499,000 RESTAURANT: CHINESE BUFFET LOCATED IN OIL COUNTRY. OWNERS WANT TO RETIRE. PRICE $299,000 “WE HAVE RESTAURANTS, GAS STATIONS, GROCERY STORES, INVESTMENT PROPERTIES, FOR SALE AND IF WE DO NOT HAVE IT WE WILL FIND IT.�
Century-21 Westman.com Brandon, MB
Direct Line: 204-729-5074
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he weather bomb of 2010 is finally receding from the minds of Manitobans. The two-day October storm whipped up near-tidal waves that pounded the shorelines of Lake Winnipeg and threatened to swallow many of the most valuable cottages in the province. Not surprisingly, the bottom of the market subsequently fell out as many cottage owners were forced to stem the tide Lake Winnipeg cottage prices have recovby erecting revetments to prevent further ered. This one is priced at $750,000. damage. As the hysteria has died down, the market for lakefront cottages has rebounded, according to Melodie Ateah, owner of Ateah Realty Ltd. “It was a rough couple of years. People had to fix up their properties but I’m finding [the storm] isn’t as much of an issue now. We’re starting tomove lakefront lots,� she said. Lakefront cottages in communities such as Victoria Beach, Lester Beach and Hillside Beach are listing from $169,999 to $939,900. Ateah cautions that not every cottage is out of danger as there are still some erosion problem areas at Victoria and Lester beaches. Unfortunately, that comes with the territory. “There is that risk when you buy lakefront. There are always going to be erosion issues with lakefront cottages because of the water and the slumpage of the land,� she said. Conversely, things are quiet on the lake’s hotel front. There is still hope that a buyer can be found for the Radisson Hecla Resort, a 90-room hotel in Gimli on the west shore, which was placed into receivership two years ago. Despite millions of dollars in upgrades, it failed to attract enough patrons and catering business outside of the summer months. Photo: Eastern Lakes /Winnipeg
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www.westerninvestor.com MAY 2012WESTERN INVESTOR
the centrepiece of a more-than-$600-million revitalization of downtown Winnipeg called the SHED (sports, hospitality and entertainment district). The latest project designed to attract ortage Avenue has always been bustling Winnipeggers to live downtown is the brainwith people in downtown Winnipeg but child of brothers Mark and Rick Hofer. They it has been restricted to street level – until were helped along by $3.8 million in financial assistance from the city, the province now. and CentreVenture Development Corp., Twenty of 75 apartment units in the Winnipeg’s downtown development agency. refurbished Avenue and Hample buildings The units range from 400 square feet to are now occupied and the developers are optimistic the rest will be leased out shortly. more than 1,000 square feet. The $12.4 million conversion was unveiled Typical rent for a one-bedroom is $925 per just days after demolition began of the nearby month. Wild Planet and A&B Sound buildings, which All the apartments have one interesting will make way for a new 15-storey hotel feature – tiny balconies overlooking Portage Avenue, right across the street from the MTS tower.◆ Centre, the home of the Winnipeg Jets and – Compiled by Geoff Kirbyson
Rentals snapped up downtown
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FOR SALE 227 Stratified Rental Units
mmelnyk@mts.net
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r 1SJODFUPO %SJWF 5IPNQTPO .BOJUPCB r 5IPNQTPOhT QSFNJFS TUSBUB SFOUBM BQBSUNFOUT r 5XP TUPSFZ DPODSFUF CVJMEJOHT r $PNQMFUF SFOPWBUJPOT JO FWFSZ TVJUF r "TTVNBCMF ĂąOBODJOH Douglas McMurray 604-647-5082
Chris Wieser 604-647-5089
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Avison Young Commercial Real Estate (B.C.) Inc
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www.avisonyoung.com
Franchises B31
WESTERN INVESTOR MAY 2012 www.westerninvestor.com
Carstar among top franchises
Nurse Next Door moves into U.S.
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Photo: Carstar Automotive Canada Inc.
ancouver-based Nurse Next Door Home Care Services will be opening two locations in the U.S., one in Medford, Oregon, and one in Fort Collins, Colorado, this year. John DeHard, co-founder of Nurse Next Door, said, “We’ve worked very had to find the right partners to launch our initial U.S. franchise locations. We’ve built a very successful model in Canada and we’re excited to Carstar president Sam Mercanti (centre) bring this success to the U.S. market.” with members of the Carstar executive The company plans to open 15 to 20 more team. locations in the United States in 2012, while continuing its growth in Canada. Nurse Next arstar Automotive Canada Inc. was named one of Canada’s 50 best-managed Door was recently named among BC Business magazine’s 2011 best companies to work for companies for 2011 by Deloitte. The in B.C. Hamilton, Ontario-based company, with “All of the new franchise locations will more than two-dozen locations in Western bring a unique caring experience into their Canada, primarily across Alberta, was recognized for its comprehensive management, clients’ homes and also create jobs for local residents,” said co-Founder Ken Sim. staffing and technical strategy. A Nurse Next Door franchise costs between “We are very honoured to receive this award,” said Sam Mercanti, Carstar president $85,000 and $120,000 and has an initial franchise fee of $30,000. and CEO, who passed on thanks to his franchise partners for “their involvement in helping us achieve this milestone and for their ongoing contribution in the improvement of our business.” Canada’s 50-best-managed companies is a national awards program recognizing firms that have established world-class business iscount realtor PropertyGuys.com is practices. Winners were honoured at the pushing hard into the Calgary residenannual awards gala in Toronto last month. tial real estate scene, says president and Other national franchise winners for CEO Ken LeBlanc. 2011 include A&W Canada and White Spot Although we have a couple of great Canada. franchise operators in Calgary already, we Carstar franchise costs vary depending on don’t have enough coverage yet to be a level of services; a breakdown in prices was true force in this rapidly growing industry.” not made available as Westerm Investor was From its beginnings in Moncton, New going to press. Brunswick, 12 years ago, PropertyGuys.com
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new low-cost tobacco retail concept has proven a cash-flowing franchise in Airdrie and Olds, Alberta, and is set to expand across Western Canada, according to Ed Alfke, chairman of Cheap Smokes & Tobacco. Alfke, founder of Rent-A-Wreck, said Cheap Smokes could be a similar franchise sleeper. “I am amazed at the sales volume. I have never seen a franchise achieve $1.2 million in its first year of sales in a town, like Olds, with a population of just 9,000,” Alfke said, adding that the Olds outlet was hitting sales of $140,000 per month after just 10 months in operation. Cheap Smokes proves an The Cheap Smokes franchise, owned by Lisa and Jeff Alberta cash cow. Lawrence, is a simple concept: undercutting competition on prices to draw in customers and then upselling with smoking accessories and higherpriced cigars. In Alberta, a pack of 25 major brand-name cigarettes costs an average of $11.32, with a carton of 10 usually selling for more than $100. Cheap Smokes sells a carton for $88.50. “Our pricing structure makes us just a bit lower than Superstore and much more competitive then 98 per cent of the other locations [where] you can purchase smokes.However, the biggest difference is we are specifically servicing our smoking customers and have built a happy place just for them,” Jeff Lawrence said. This may be a key advantage; in most of Canada smokers have become a social pariah, though Health Canada estimates that 21 per cent of the adult population still lights up. Alfke said a Cheap Smokes & Tobacco franchise would cost about $25,000 and “is an ideal investment for a small-town market.” Photo: Jeff Lawrence
News, views and updates on Canada’s franchise industry
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currently serves over 600 communities across Canada. PropertyGuys.com has a new franchise open every 13 days on average, LeBlanc said. A franchise costs between $40,000 to $70,000.
PropertyGuys.com Tim Hortons aims aims at Calgary for 700 new outlets in Canada D
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here’s room in the market for 700 more Tim Hortons in Canada, the chain’s CEO told investors recently, a finding he admitted could surprise some observers. “You might think that with our strong market share there might be limited opportunity for growth in Canada. That is simply not the case,” said Paul House, speaking at
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the Raymond James Annual Institutional Investors Conference in Orlando, Florida, last month. “We believe that there is an opportunity for 4,000 locations in Canada.” Tim Hortons now has 3,295 restaurants in Canada, 714 across 10 U.S. states and five in the United Arab Emirates. Last year, Tim Hortons Inc. stock went into a tailspin and the company was criticized for expanding too quickly after the sudden departure of Donald Schroeder as president and CEO. But House said Tim Hortons plans to open between 155 to 175 new locations in Canada and up to 100 full-serve restaurants in the U.S. in 2012. At the same time it wants to increase same-store sales by 3 per cent to 6 per cent in Canada and the U.S. A Tim Hortons franchise costs from $430,000 to $480,000 to start.◆ – Compiled by Kevan O’Brien
CONNIE WOLBAUM
CHRIS FALLE
FRANCHISE DEVELOPMENT MANAGER AB/SK
DIRECTOR OF FRANCHISE DEVELOPMENT BC/MB
306-949-7889
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connie.wolbaum@idq.com
Phone:
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Grow with us in Kelowna, Vernon Jubilee Hospital, Calgary, Aidrie, Okotoks, Edmonton, Grande Prairie, Saskatoon, Regina & Winnipeg Are you an entrepreneur? Coffee lover? Service specialist? Talk to us about joining our franchisee network – over 350 cafés strong across Canada.
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