Western Investor February 2011 Section B

19 OIL CAPITAL RUNNING EMPTY Fort McMurray faces severe land shortgage

$ 4 . 2 9 F E B R U A R Y 2 0 1 1 V o l . 2 6 / I s s u e 2INTERIOR B.C. • ALBERTA • SASKATCHEWAN • MANITOBA SECTION

11 GAME FEVER COOLED FAST One year after Olympics sees lower visitors in Whistler and Vancouver

29 BRANDON VOTES ATTITUDENew mayor sets bold, pro-growth strategy

▲

Housing official Bryan Lutes warns hot demand is burning through all serviced land in the city

PUBLICATIONS MAIL AGREEMENT 40069240

RETURN UNDELIVERABLE CANADIAN ADDRESSES TO CIRCULATION DEPARTMENT:

102 EAST 4TH AVENUE, VANCOUVER, B.C. V5T 1G2

Calgary Office#211, 4014 MacLeod Trail South, Calgary, AB T2G 2R7 • Phone: (403) 214-2344 FAX: (403) 214-0244

BUILT ON THE POWER OF OUR NETWORK. OVER 355 OFFICES WORDLWIDE.

FOR SALE/LEASE1499 - 17 Avenue SW Calgary

Size - 2,444 sq. ft.Asking Price - $1,000,000Lease Rate - $26.00 p.s.f.

Shane OlinTel: (403) 708-9086

[email protected]

Wing TangTel: (403) 291-8872

[email protected]


[email protected]

FOR SALE- 17,600 sf in Calgary: retail/apartment building - Fully Leased- 7,000 sf in Calgary: retail/industrial building - Fully Leased- Development Opportunity - Okotoks - 16,000 sf- 2 Acre Multi Residential Site - Calgary Region - Foreclosure- 8,000 sf High Density Dev. Site - Calgary Core - Foreclosure

Daniel GoldstromTel: (403) 809-8326

[email protected]

INVESTMENT SALEFoothills Industrial Calgary

9% Cap Rate - 63,000 sq. ft. - 2.6 acres - 10 year term

www.naicalgary.com

FOR SALE/LEASE97 Prairie Place SE, Calgary

Size - 4.7 AcresAsking Price - $1,699,000Zoning - Light Industrial


[email protected]

Daniel GoldstromTel: (403) 809-8326

[email protected]

BUSINESSES FOR SALE

FLOOR COVERINGSCALGARY AREAEstablished more than 20+ years. Stable staff, long term customers. Revenue $5M & steady. EBITDA $460K (2010). $2,099,000 includes working cap.

HVAC MANUFACTURERALBERTA2011 revenue est. $4M and profitable. Custom air handling manufacturer. In business over 20 years. Direct and indirect fired air. Under $1.7M earnout considered.

EQUIPMENT RENTALPRINCE GEORGE REGION20 years in business. Revenue $1.25M, 5 yr weighted EBITDA $569K. Equipment FMV $1.5M (NBV $654K). Purchase land and buildings option. $1,549,000

For a List of All Businesses Call:Craig Tennock

Tel: [email protected]

INVESTMENT OPPORTUNITIESSOUTHERN ALBERTA HOTELS AND MOTELS

- Three motels can be purchased as a portfolio or separately. Total over 300 rooms 8% cap rate on existing cash flow

- 160 plus rooms full service hotel 80% plus occupancy Very Attractive Capitalization Rate

AUTOMOTIVE SERVICEWe have a selection of gas bars with convenience stores as well as some with additional services including liquor stores, RV pads, storage etc. available in Southern Alberta. Numerous other opportunities available in Western canada. All information on these opportunities will be treated on a proprietary and confidential basis.

Contact: Jim BalfourTel: (403) 291-8860

[email protected]

Contact: Tim AndersonTel: (403) 291-8866

[email protected]

Blair MastinTel: (403) 291-8869

[email protected]

Colleayn MastinTel: (403) 291-8868

[email protected]

FOR SALEPub For Sale

Great Inner City Location$575,000

Restaurant For SaleLocated on busy 17th and 37th Street

Great Lease in Place"Reduced Price"

INVESTMENT LAND FOR SALE• Located in an established commercial area, 6 km west

of Calgary• Ideal for owner/user• 2.53 acres of development land; last parcel in Cell Subdivision B• Excellent access to trans Canada Highway


[email protected]

Deb WallaceTel: (403) 291-8862

[email protected]

Jim CourtneyTel: (403) 291-8873

[email protected]

PRIME HOTEL SITELocation: Calgary, AB

Direct Access to Airport, 2.56 +/- Acres$2,560,000

R E C R E A T I O N A L R E A L E S T A T ER E CR E CE C R E AR E AR E A T I OT I OI N A LN A LN A L R ER ER E A LA LA LA L E S TE S TE S T A T EA TA T EA T EHOT PROPERTIESSPECIAL SECTION • B12

B2 Interior British Columbia www.westerninvestor.com FEBRUARY 2011 WESTERN INVESTOR

Colliers InternationalCentre GroupCommercial RealtyKelowna, B.C.250.763.2300

www.colliers.com/kelowna

Colliers InternationalCentre Group Real Estate ServicesKamloops, B.C.250.372.7000

INCOME PRODUCING - KELOWNA PRINCETON INDUSTRIAL ESTATES

Call broker for pricingMIKE GEDDES

park

NAKUSP HOTSPRINGS & RV CAMPGROUND

MIKE GEDDESList Price: $3,000,000

ERIC WEBER (Personal Real Estate Corp)

AVALON INN - OSOYOOS

PRIME DEVELOPMENT SITEWINFIELD TOWN CENTRE

List Price: $2,500,000 JAYSON MCCARTHY

$5,999,000

$3,575,000Priced at:

$8,999,000

MULTI - FAMILY LANDSummerland Waterfront

Vernon

$6.0 MSt. Andrews

MARSHALL MCANERNEY (Personal Real Estate Corp)

CHAD BIAFORE

RETAIL STRIP CENTRE -VERNON 760 LAVAL CRES. KAMLOOPS

Priced at $2,500,000JEFF HUDSON (Personal Real Estate Corp)

MARSHALL MCANERNEY(Personal Real Estate Corp)

Priced at: $1,485,000LARRY GOOD

CHAD BIAFORE

To view photos on these and other opportunities visit our website www.syberrealty.com

201-1449 St . Paul St., Kelowna, B.C. V1Y 2E5

Syd Berisoff Agent/Broker

[email protected]

Larry Berisoff Associate Broker

[email protected]

Wes McInnes Sales Associate

[email protected]

To view photos on these and other opportunities visit our website www.syberrealty.com

:eciffO 250-862-8100 Fax: 250-984-0803

MOTEL, HOTEL & BUSINESS CONSULTANTS MEMBER of the Canadian I.C. & I Council

201-1449 St . Paul St., Kelowna, B.C. V1Y 2E5

Syd Berisoff Agent/Broker

[email protected]

Larry BerisoffAssociate Broker

[email protected]

REVELSTOKE, B.C.

$4,900,000

FERNIE, B.C.

$1,495,000

QUESNEL, B.C.

$899,000

MAJOR PRICE REDUCTION

Now $1,999,000

KIMBERLEY, B.C.

$615,000

REVELSTOKE, B.C.

$1,200,000

BLAIRMORE, ALBERTA

$795,000

CACHE CREEK, B.C.

$449,000!

TRANS-CANADA HIGHWAY

$398,000

SALMON ARM, B.C.

$595,000

KOOTENAY LAKE

$1,195,000

PEMBERTON, B.C.

$895,000

#100-1553 Harvey Ave., Kelowna, BC V1Y 6G1

6,337 SQ FT COMMERCIAL BUILDING FOR SALE

Located in an area which is increasingly being re-developed into an upscale commercial area using the concessions provided by the City of Kelowna for redevelopment of the Town Centre core of the Rutland area. Fee simple land. 13 parking spaces on the property. Possibility splitting this building, maintaining a tenant base on both floors. Available: $1,795,000 MLS®

Manufacturing of natural gourmet foods - in business since 1990. Production area is 900 sq ft with attached 1200 sq ft warehouse - includes the office. Production area houses stainless steel filling line - automatic piston filler, conveyor belt, semi-automatic capper, loader table, accumulating table, cooking kettles, triple sinks and shelves. Warehouse accommodates ingredients, labels, jars and a small retail shop. +/- 19.70 acres. Included in purchase price - 10 lots “Quail RV” park with water and sewer, 30 and 50 amp service with internet availability and laundry. Available: $2,800,000 MLS®

BRAVA Under construction. 2 Commercial, 3 Residential Strata units for sale – passive investment. To be fully leased at 7% CAP Rate, 5 year term. Projected occupancy June 2011. Call Ken or Kris for all the details.

Sq Ft from 1,349 to 3,119. Construction is precast concrete. Radiant heating, 20 ft. ceilings & 14 ft. insulated overhead doors. Easy access to Highway 97, Kelowna Intl Airport, the University and Quail Ridge golf course and subdivision. CD15 Zoning.

Available For Sale: $249,565 - $331,705 MLS®Available Lease: $10.00 - psf plus TNet MLS®

FOR SALE OR LEASE – AIRPORT

BUSINESS PARK

WEST KELOWNA - INDUSTRIAL STRATA FOR LEASE

Two units available for lease each one +/- 1,752 sq ft. New building with occupancy November 2010. 14’ overhead doors, 22’ ft clear to underside of truss. Inside ceiling height could accommodate a mezzanine. Property will be landscaped and include night lights. These 2 units (back to back) could be combined for +/- 3,504 sq ft. Available: $11.00 psf plus NNN MLS®

NEW PRICE

CONSOLIDATION COMPLETE 12 LOTS AVAILABLE FOR SALE FOR

DEVELOPMENTProperty would include a 6 storey commercial building and a 5 storey mixed use building. The commercial component of the project would have a one storey retail base with 5 storeys of office space while the mixed use component has a 1 storey retail base with 4 storeys of residential development. The required parking will be located entirely within a 1 storey underground parkade. The gross building areafor this development site would be approximately +/- 180,000 sq. ft.

Available: $4,990,000 MLS®

PERFECT IMMIGRATION

PACKAGE

30.82 +/- ACRES TRANS CANADA HIGHWAY

4 km’s West of Revelstoke. Previous use as a wood mill. Lots of potential uses – Industrial or rezone to the “Perfect Campground”. Seller Says “Sell It”. M3 zoning – Heavy Industrial. Available: $599,000 MLS®

5600 SQ FT COMMERCIAL BUILDING5,600 sq ft commercial building on Rutland Road.1 side is leased. Kelowna airport 10 minutes away. Double glazed windows, 12 x 12 OHD. Three phase power. C2 Zoning neighbourhood commercial with LUC in place – allows for automotive body repair and printing.Available: $1,399,000,000 MLS®

GREAT LOCATION IN THE PANDOSY CORRIDOR

TO BE BUILT! Priced individually - New Strata Commercial/Residential Mix building. Commercial bays on 1st & 2nd floors. Unit 1 (main floor) - priced at $724,320 for 2,12 sq.ft. Unit 2 (2nd floor) $1,302,880 for 3,832 sq ft. 3rd floor Penthouse - residential priced at $579,000 each. Design changes may alter floor plate. All measurements to be verified by survey. Call Ken or Kris for details.

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 @ we s t e r n i n ve 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

2–11

15–27

26–30

30-31

HOT PROPERTIESFEATURES19

As oil prices surge, city is running out of land Download a PDF of all our Regional Roundups online at www.westerninvestor.com

11 One year later, B.C. hotel occupancy levels are falling

29 Manitoba’s second city gets its game face on

31 Iconic franchise opens most-northern outlet

COLUMNS23 28

On the coverFort McMurray housing official Bryan Lutes warns the city is quickly running out of serviced land. Photo: Shirley Lin

B4 Interior British Columbia www.westerninvestor.com FEBRUARY 2011 WESTERN INVESTOR

w w w . d a v i d j u r o m e . c o mDAVID JUROME 250-862-1888

KELOWNA & OKANAGAN ACREAGESVERY PRIVATE 4.42 Acre Estate on South Thompson River

Approx. 15 minutes drive east of Kamloops next to River Shore Golf Course. Beautiful custom built rancher with 6 bedrooms, 3,360 sqft, vaulted ceilings, large kitchen with 4x8 Island + formal dining room & living room with rock fi replace. Master bedroom has 5 piece ensuite. Designed to take in the southern exposure & peaceful river views! Enjoy the large patio area with water fountain & inground pool. 573 ft river frontage with boat dock.

$1,350,000 MLS®

OK ANAGAN – B .C . INTER IOR I N V E S T M E N T O P P O R T U N I T I E S

VADIM KOBASEWC O M M E R C I A L R E A L E S TAT E S P E C I A L I S T

250-492-2233 / 1-800-567-6770RE/MAX FRONT STREET REALTY, PENTICTON, B.C.

COURT ORDERED FORECLOSURE SALEINDUSTRIAL BUILDING

SUMMERLANDB

Asking $1,995,000

2.13 ACRE DEVELOPMENT SITE

Asking Price $850,000Asking Price $1,895,000

21.8 ACRES PRIME HOLDING PROPERTY

Asking Price $3,150,000

MOBILE HOME PARK - MERRITT LAND – OSOYOOS

D

Asking Price $1,595,000

NEW LISTING NEIGHBOURHOOD MALL - OSOYOOS

DWIGHT VOSphone: (250) 554-4511

toll free: 1-866-456-0577 BEST-WEST REALTY LTD. KAMLOOPS

email: [email protected]

BUSINESS AND INVESTMENT OPPORTUNITIES

– Suitable for investor or owner/operator. Includes land & buildings.

– 4 units in 1 building, established tenants with commercial leases in place. $319,000

- 130 acres, with highway and railroad access. Reduced to $995,000

– 162 acres, deluxe residence. BC Interior location.

– Prime Location, close to Downtown and University. Extensive Renos done. $525,000

Offi ce: 250-372-2277Email: [email protected]

For Sale or For Lease

OPPORTUNITIES:

Mona M. Murray Dip. ULE, RI (BC), CPM

www.mcmrealestate.ca

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. One-bedroom, 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.

SALMON ARM, B.C.

SALLY SCALES [email protected] or 250-832-4831

MLS® 10020318 Price $949,0004354 Copper Cove Rd Scotch Creek BC

Spectacular view of Shuswap Lake. Property has been extensively renovated with a open concept on the upper level. Basement has been fully finished with Sauna. Property offers privacy, quietness, lots of room for your toys. Easy access to the water via the cable lift or enjoy a short walk to the Beach.

MLS® 10011706 Price $899,9003-1038 Wharf Rd Scotch Creek BC

Gorgeous 88’ Sandy Beach with Southern exposure. Beautiful remodeled rancher style home for year round living. Enjoy a view of Shuswap Lake from the open living space or on the Large Deck. A Must See

SHUSWAP LAKE

Call Trev for all your Shuswap needsBus: 250-832-7051 Direct: 250-833-8771TF: 1-888-676-2435 [email protected]

Remax Shuswap

VERNON, BC1 – 2 Bedroom Strata Condos

Positive cashflowFully managedFrom $149,900

40 – 3 bedroom, 1½ bathTown Homes

Possible strata conversion

Call: 250-826-2284Email: [email protected]

Enderby Tube Taxi

This exciting business opportunity is a service provider of transportation, tube rentals, plus mobile food and beverage truck in Enderby on Shuswap river. Operates June to Sept.

Hunter’s Range Resort

Currently operating as ATV/Snowmobile rentals and campground on Mabel Lake Road in Enderby. 7.2 acres bordering crown land on 3 sides. Hundreds of riding trails. 2300s/f fully renovated house.

Call Rod Culic or Patrick Place, 250-546-8791 Downtown Realty

$679,900

EXECUTIVE STYLE HOME - SMITHERS, BC

MARIAN GIBBOne Percent Realty Ltd

250-302-9646

PENTICTONLUXURY MOUNTAIN TOP HOME ON 2 ACRES

BEAUTIFUL VIEWS OF SKAHA AND OKANAGAN LAKE

$2,499,000

PENTICTONLAKEFRONT PENTHOUSE WITH MOUNTAIN VIEWS

AVAILABLE IMMEDIATELY

1 BDRM + DEN: $529,000

OSOYOOS10 INCOME PRODUCING

LAKEFRONT RV LOTS

$1,250,000 + HST

monarkinvestments.caPlease visit our website or call for more details.

604-592-7250Financing Available. Potential Trades.

FOR SALE

PENTICTONLAKEFRONT PENTHOUSE

AMAZING VIEWS OF OKANAGAN LAKEAVAILABLE IMMEDIATELY

2 BDRM + DEN: $1,599,000

WESTERN INVESTOR FEBRUARY 2011 www.westerninvestor.com Interior British Columbia B5

1ST TRAIL REAL ESTATE LTD.

(250) 231-5222 (CELL)

(250) 368-5508 (FAX)

COLDWELL BANKER COMMERCIAL WORLDWIDE

www.cbcworldwide.com www.coldwellbankertrail.com

FORMER GROCERY STORE WITH APARTMENT

PRIME DOWNTOWN LOCATION $124,900

SENIORS GOLDEN LIFE21 UNITS IN EXCELLENT

CONDITION NICE RIVERSIDE LOCATION

$2,990,000

MINI STORAGE$499,000

C-STORE, GAS BAR, LIQUOR STORE, POST OFFICE

$799,000FIBRE GLASS TANKS, NEW PUMPS

$649,000

ROSSLAND, BC MULTI FAMILY SITE 22 LOTS – CLEARED

FURNITURE & APPLIANCE

$1,990,000

LAND, BUILDING, BUSINESS 37,500 SF OF NEWER BUILDING

POTENTIAL CO GEN PLANT100 ACRES

$750,000

LARGE CONSTRUCTION PROJECTS UNDERWAY IN OUR AREA

$1,990,000 HOTEL & LIQUOR STORE & RESTAURANT

NEWLY RENOVATED RESTAURANT AND ROOMS. VENDOR WILL CARRY 1ST

MORTGAGE AT A COMPETITIVE RATE.$1,490,000

CONDO PROJECT COURT ORDERED SALE

BLUE MOUNTAIN LODGEa home, business and lifestyle; visitors pay to stay at your place, swim, boat,

shop and kick back at picturesque Christina Lake. MLS® K3900575

HEATHER UNDERWOOD 250-443-4320250-442-2124

[email protected] BANKER BORDER COUNTRY

250-860-7500888-535-6962

1985

ALF SANDERSON604-691-6646 or 1-866-717-6989

[email protected]

OKANAGAN CATTLE RANCH REDUCED

$1,950,000 excl equip & livestock

OKANAGAN MEAT SHOP & DELI

$650,000 inc equipment

“HELPING YOU IS WHAT WE DO!”

Put three decades of real estate licensed practice to work for you! Over 15 years specializing in Hotel, Motel and Develop-ment Properties all over BC, with International and Canada-wide marketing. Ten years as Broker Owner/Offi ce Manager for Mixed Residential & ICI offi ces, and 10 years of FULLSERVICE real estate. Investors, Developers and Hospitality owners LIVE IN HOUSES, too! Whatever your Real Estate needs are, we have the experience (and interpreters) to do the job!

VERA HOLMAN, 604-318-0024 [email protected] VALDEZ, 604-351-0625 [email protected] ROYAL LEPAGE NORTHSHORE - fax 604-926-9199

VISTA LAS GATAS Z I H U A T A N E J O , G R O . M E X I C O

$639,000

PENTICTON – GOLDEN OPPORTUNITY!!OKANAGAN HOME W/ INCOME! !

Comes w/ Vacation Rental WebsiteView more info @ www.buy-this-house.ca

Call Karen 250.490.8888

B6 Interior B.C./Business Opportunities www.westerninvestor.com FEBRUARY 2011 WESTERN INVESTOR

Asking $2,399,000 share sale.250-378-7378

or e-mail [email protected]

Kamloops, BC38 Unit Motel in Aberdeen

OWNERSHIP OPPORTUNITY – BUILDING SUPPLY STORE IN BC –

Own your own IRLY Building Centre dealership. We are seeking entrepreneurs to be part of BC’s largest building materials and hardware chain. We offer advertising, computer & merchandising support. New and existing locations. Partnership opportunities available. Dealer - owned co-op. Receive rebates & patronage dividends.

Contact Brad Dixon or Susan Robinson @ 1-800-663-3342 www.irlybird.com

67 unitsRestaurant Indoor Pool

For Sale by Owner

MOTELKamloops, BC

250-371-1055

-

$5,200,000 Will cooperate with realtors

KAMLOOPS, BC & AREATumbler Ridge BC

1438 sq ft $219,000

3080 sq ft $439,000Pub, Liquor Store, Restaurant

$600,000Restaurant

$90,000 Retire or ?

$795,000Mini Mall

$399,900Warehouse for lease.

$8.00 sq ft triple netLand & Building for sale.

$875,000 4000 sq ft Free Standing Building

$12.00 per sq ft plus triple net

Call MARVIN [email protected]

www.realestatekamloops.ca

TEN ACRE BUSINESS PARK SITE

West Kelowna. Projected gross in-come of approximately $425,000 in 2011. Existing 36,000 square foot build-ing on 2 acre portion with surplus 8 acres for phased build out. Commercial zoning with 65% site coverage. Potential Site plans available. 2 titles, priced at $8,900,000

68 ACRE ALR SITE KELOWNA

Prime Mission area location, borders on Mission Creek Greenway and 2,153 feet frontage on Gordon Drive. Tremendous long term potential. Three titles, with rental income. Asking $7,900,000

COURT ORDERED SALE: PENTICTON DEVELOPMENT SITE

9.4 acre site with income from existing RV park. Zoned Tourist Commercial, po-tential to rezone and subdivide. Asking $7,500,000

For Information, contact

JOE UNGARO 250 317-1819

[email protected]

GARNET PROFIT 250 870-2391

[email protected]

Royal LePage

KELOWNA – UNGARO ALBRECHT

BUSINESS LOANS & MORTGAGES

Taylor Capital Inc.

R.N. (Ron) Palmer CIM, AMP Phone (250) 446-2868Email: [email protected]

www.ronaldpalmer.com

A no obligation assessment is just a call away.

Proudly arranging financing for B.C. businesses since 1998

Property taxes too high? • Is your Property Assessment value fair?

• Is your assessment value equitable?

• Is your property tax classification correct?

• Have you received all available property tax exemptions?

• Should you file an appeal?

With over 20 years of property assessment appeal experience, PacWest Commercial Real Estate Advisors specialize in the annual Review and Appeal of property assessments, property tax minimization strategies as well as Property Transfer Tax appeals throughout British Columbia.

Proactive Service, Proven Results

Tim Down, AACI, P. APP, CAE, RI(BC)Property Tax Services

Deadline for appeal is May 2, 2011

2011

PacWest Commercial Real Estate AdvisorsT: 866-764-9147 F: 1-866-372-7172E-mail: [email protected]: www.pacwestrealestate.ca

NEED LIQUIDITYFinancially secure development company looking for investment

opportunities in distressed properties or projects, preferably multi-residential or commercial.

Willing to work in partnership.Email info to:

[email protected]

Over 40 Years of Success!!

100 Mile Realty

Call Wayne Walker 1-800-663-8426 250-395-3126

WESTERN INVESTOR FEBRUARY 2011 www.westerninvestor.com Interior British Columbia B7

The HEIDI LUSSI Real Estate Team

LIVE, WORK & PLAY IN THE BEAUTIFUL NORTH OKANAGAN

Land + Building on 0.45 ac Lavington, BC

Incredible Acreage on Shuswap River – Mara, BC

Great Development Property near Okanagan Lake – Vernon, BCDeutsche

BeratungHeidi Lussi Personal Real Estate Corporation

RE/MAX Vernon 5603 – 27th Street, Vernon, BC V1T 8Z5

Highway exposure!

$425,000 + HST

$949,000

$3,250,000 + HST

MLS®

For all your Real Estate needs call or visit us today!

Toll Free: 1-800-667-2040Bus: 250-503-3487Email: [email protected]: www.heidilussi.com

STEWART PEARSON GARY FRANCKS

1-800-667-20401- 250-549-4161

3200 - 30th Avenue

4708 - 34th Street

2500 - 53rd Avenue

VERNON, B.C.

email: [email protected] website: www.maryihme.com

Office: 1-250-495-7441Toll Free: 1-866-495-74418507 Main Street, Osoyoos BC V0H 1V0

MARY IHME RE/MAX Realty Solutions

6015 LAKESHORE DRIVE $849,000 MLS®Prime corner lot with over 300' of Hwy 3 frontage across from the Best Western & Rattlesnake Canyon Amusement Park. C3 zoning with 2,340 sf metal clad building, office space above set on .70 acre fenced flat lot. Consider for gas bar, convenience store, auto sales & repair, restau-rant etc. Excellent exposure for any business.

8121 MAIN STREET $649,000 MLS® .31 acre downtown lot includes main level commercial and up to 3 more stories for multi family residential use permitted. C1 downtown commercial zoning-plans avail-able showing 18 residential units approved in 2006. Located across from Watermark Hotel, some lake views.

OSOYOOS

PLUMBING BUSINESS, OSOYOOS, BC $99,000 20 year established home based busi-ness, well respected with long term customer base. "Workshop on Wheels", equipment & inventory included as well as client list. Seller will work with new owner for one month to assist in transition. A turn key operation. Owner wants to retire.

The Property Source Groupwww.thepropertysource.ca

tf: 1.888.661.4434p: 250.317.2707 GINO

DAL PONTEGORDON

KEITHDAL

ANDERSONCINDY

GARNER

KELOWNA, BCINDUSTRIAL SPACE FOR LEASE

• 2,000 to 16,000 sq. ft. • Additional parking/yard space available• Heated and sprinklered building• Up to 42’ ceilings• Large overhead doors • 3 phase power

This space is exible, so let’s discuss your requirements!

• Easy in and out access• Accessible for large vehicles • Optional of ce space

$7.50/sq. ft. + NNN

B8 Interior/Northern British Columbia www.westerninvestor.com FEBRUARY 2011 WESTERN INVESTOR

LAKESHORE DEVELOPMENT

Across road from public lake access on Okanagan lake. .23 level acre. OCP supports C10 in new waterfront development area. 3bdrm home w/longtime tenant. $725,000

-

properties. $2,900,000 ®

NURSERY

for horses. $1,600,000 ®

ACREAGE/RANCHES

$6,495,000 ®

GAS BAR

acres

$765,000 ®

COMMERCIAL/INDUSTRIAL

$688,000

$298,000.

$349,900

-

$988,000 ®

10 $2,250,000 ®

roads. Multitude of uses including residential above main floorgolf course. $5,500,000 ®

MULTI-FAMILY SITES

$1,450,000 ®

Park. $750,000 ®

RETIREMENT COMMUNITY – PLAN NOW!\

$299,000

1-800-317-1118 or 1-250-549-7050www.okanaganhomes.com

Fax: [email protected]

5603 27 St., Vernon, BC V1T 8Z5

PRISCILLA & CO.Re/Max Vernon

VERNON & AREATRADES CONSIDERED ON SELECT PROPERTIES

[email protected]

Call Sterling Management Services Ltd 250-785-2829

Ask for Robert Herman

FORT ST JOHN FOR SALE STRIP MALL

10 Unit Residential Townhouse Property. Gross revenue of $88,800/yr.

Annual expenses: taxes $5,080, water/sewer $4,000, insurance $950.

Asking $890,000 (sold in 2007 for $1,000,000).

Potential to stratify units for resale.

Email [email protected] or call 1-800-658-2345

Sicamous, BCMulti-Unit Residential

MISSION - 7 ACRES - $799,999IMMACULATE equestrian setup on a secluded and serene fertile acre-age with access to small waterway for fi shing, relaxing and eagle spotting. Renovated basement entry with beautiful maple kitchen, bay carousel eating area with million dollar mountain view, liv. rm, 3 large bdrms, 2 baths and room for extended family down with 2 bdrms, bath and kitchen.6 stall barn, 3 stall shedrow, 100 x 200 outdoor ring, 30 x 38 workshop, hay producing fi eld plus grass and sand turnouts for horses. The property is fenced and xfenced and groomed to make your transition here effortless. Potential to run bed/bale/breakfast in this great location. You will not fi nd any fl aws here - call today to view.

ABBOTSFORD - 2.5 ACRES - $699,900Located in the charming community of Arnold this diverse property will suit no matter what your needs are. All fl at and usable and set up to house up to 14 horses, with two barns, turnouts, riding ring all drained and gravel footing. The home is a 7 bedroom basement entry well main-tained with large kitchen to open dining and family room area and sepa-rate living room with beautiful red brick fi replace (previous owner was a professional mason). Nothing left to do except move everyone in and enjoy. Easy to view - this is priced to sell fast. You will be impressed.

IRON CREEK LODGE - $699,000 50 Acres – Located at the B.C. Yukon border, on Iron Creek Lake which is stocked by the gov’t with rainbow trout. Facilities overlooking the lake include service station, 2 storey lodge with 50 seat restaurant, full kitchen, living quarters upstairs, 8 room motel, 2 room log cabin, 20 serviced R.V. sites...the list goes on. All buildings and services were installed from 1992 to present with approvals and built to code. Steady clientele with tour buses, car, truck and camping traffi c, fi shermen, hikers, snowmobilers, cross country skiers and local traffi c. Priced to sell. Call for a full information package.

Located 15 minutes east of Prince George, this fertile and picturesque ranch borders the Salmon River. Large acreages like this located close to major city centers are hard to fi nd. Perfect opportunity to raise any kind of livestock and/or grow crops. Much of the land is already produc-ing and fenced. Priced to sell - don't miss this opportunity to invest in your future. Call for more information.

For Professional, Personal and Prompt Service Call...Karren Winther and Nick CostantinoCell: 604-818-4888 604-857-1100 Cell: 604-818-0233

1-888-341-1100 [email protected]

Look Here For Your Next Investment Opportunity

DEVELOPMENTOPPORTUNITY!

403-701-9844 [email protected] or

[email protected]

Approved development sites; Dawson Creek BC, +- 15.8 Acres mixed use, single family, duplexes

and multi family, engineering completed.View at www.Dawsonhills.ca.

Asking $1,450,000

Kimberley BC; 5 +-acres approved for duplexes and multi family.

View at www.kimberleycrossing.caAsking $1,950,000

VTB considered for qualified buyers.

strategies (Highest & Best Use- strip mall/motel/hotel). $1,550,000

Garth Lord, [email protected] RE/MAX Shuswap

Personal Real Estate Corp.

15 UNIT APARTMENT BLOCK centrally located in downtown core of Salmon Arm. Close to all amenities with lake views. Building has had a major renovation in 2010 worth in excess of $700,000 with new windows, hardie siding, elec., roof and more. Zero% vacancy with long term tenants.

SALMON ARM, B.C.15-SUITE APARTMENT BLOCK

$1,700,000

www.shuswaphomesearch.com

Excellent investment opportunity!

FOR SALE – 350 PRISTINE ACRESCity of Vernon – Offi cial Community PlanDesignated Hillside Residential Reserve

City services at Property line5 legal lots – over 1 mile road frontage

Adjacent to Predator Ridge World Class Golf Course and Sparkling Hill Resort and Spa – International clientele

Information package available upon request$21,700,000

LARRY BENNETTOCell 1-250-308-6025

1-800-667-2040www.bennetto.ca

Bennetto & Associates RE/MAX Vernon

OKANAGAN LAKE

WESTERN INVESTOR FEBRUARY 2011 www.westerninvestor.com B9

The ski hill has a new ownership group as of last fall, following the former operator’s less-than-stellar success with property development in the middle of a recession, and is expected to roll out some new property offerings early in 2011. Early development has focused on single-family lots with ski-in-ski-out potential on the mountain, which was once envisioned as a place for 6,000 beds of residences and accom-modation.

The long-established forestry industry keeps chugging along in Smithers, but it’s the min-ing industry that’s expected to grow, pushing adventure tourism and property development with it in a trading area over 20,000.

f you head to Smithers in northwest B.C., you’re likely to encounter a variety of people: tourists, mine workers, outdoor

recreation enthusiasts, forestry-crew types, skiers and, of course … moviemakers.

Perhaps you won’t see them all at once, but the fact they exist is testament to a former boomtown looking for sustainability in a pic-turesque multi-use environment.

The community of roughly 5,300 along the Yellowhead Highway and CN Rail mainline is a busy place – and one that’s capable of a realistic arctic look when necessary.

That’s why it was chosen for some of the location shooting for The Grey, a Hollywood adventure flick starring Liam Neeson. The movie is a survival story about a group of oil workers who crash their plane in Alaska and encounter a pack of aggressive wolves.

“We do have that amazing mountain that can depict that arctic look that a lot of location managers are looking for,” explained Heather Gallagher, manager of the Smithers Chamber of Commerce.

Filming was underway in the Smithers area in January, and follows the shooting of another Hollywood production, Eight Below, in 2006.

Bringing movie crews to town is easier when you have an established tourism sector – one that welcomes folks looking for adventure on the ski slopes and in the backcountry.

The local ski resort, Hudson Bay Mountain,is a strong regional draw with a big focus on Prince George – northern B.C.’s most populous city – but it also attracts Lower Mainland skiers and visitors from far away, thanks in part to an airport whose main runway was extended a few years back to handle commercial jets.

Now the area is served by direct flights each day to Vancouver and Prince George.

SPOTLIGHT Mining, movies and a long-shot ski resort providing all the adventure one town needs

DAVE HUSDAL

WESTERN INVESTOR

“There’s quite a bit of optimism in the area,and a lot of that’s relating to mining activity inthe area,” said Re/Max realtor Ron Lapadat,a born-and-raised Smithereen.

Mining activity in the surround Omenicamining region includes exploration for or pro-duction of gold, silver, copper and molybde-num – activity Lapadat said is heating up, with its effects trickling through the market.

“There’s always positive spinoffs from anykind of major industrial and commercial devel-opment,” explained the veteran realtor.

While housing isn’t by any means dirt cheapin Smithers, it has become comparativelyaffordable when stacked up against the realestate in adventure towns such as Golden andRevelstoke.

An 1,100-square-foot, 20-year-old house in town will run you about $250,000, with that number jumping to $300,000 or more on five acres outside the town itself, Lapadat says.

Higher-end properties such as lots in the new development of Watson’s Landing go forbetween $79,000 and – for lakefront views –$325,000.

Single-family ski-hill lots are currently listed at between $140,000 and $150,000.

Lapadat says the area has attracted a grow-ing number of young professionals as well as skilled blue-collar types and shift workers.◆

Smithers is attracting a mix of miners, ski-ers and moviemakers.

Phot

o: T

ouri

sm S

mit

hers

Population 5,300Trading area 20,000-plusTransport Highway 16, CN main line, daily air servicePotential Hudson Bay Mountain ski resort, mining

#7545: NEW STRIP MALL has 4 available spaces left for lease, 1,750 sq ft each. Great location on 8th streetbetween Tim Horton’s & The Brick. Lease rates start as low as $16/sq. ftStart your business here.

FOR SALE OR LEASE 5040 sq ft building on busy 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 17.50 sq ft to lease.

#9593: COMMERCIAL BUILDING WITH BEER AND WINE STORE for sale (gross sales of $2,000,000). Great location in Dawson Creek, also 40 apart-ments, bar/restaurant area and commercial space. Asking $3,500,000. Call for more info.

#8947: PRIME OFFICE BUILDING in downtown Dawson Creek, 2,700 sq. ft., 10 offices, boardroom,excellent parking. Asking only $10.00 sq ft.

#9122: MACHINE SHOP / WELDING SHOP is ideal for fabrication. This is an active business for sale with land, building and includes a long list of machinery. 2400 sq. ft. on a 1/4 acre and has a 12' by 12' door with 13 foot ceilings. Lots of power with 3 phase, 230 V, 400 amp. Gravel yard, convenient location, buy it all for $275,000

L A N D#9635: RESIDENTIAL DEVELOPMENT LANDS, 3 separate parcels 25, 79 and 116 acres. Superb loca-tion, the timing is right as we are expecting thousands of new people in the near future.

#8077: 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. $179,000DEVELOPMENT LAND 48.75 acres of residential land inside the boundary of Dawson Creek. Great invest-ment opportunity. Asking $750,000#7836: 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#8755: STRATA LOT. Excellent location for a restau-rant or high exposure franchise. Land only services plus paved parking for this 1/2 acre strata lot. Location is be-tween the Pomeroy Hotel and Best Western overlooking the highway. Asking $295,000#8664: COMMERCIAL LOT in downtown location, good central location next to dentist offi ce, across from doctor's offi ce, and optometrist offi ce. 45 x 120, great location for professional/medical offi ce.

#7066: LOCATION, LOCATION, LOCATION 0.74 acres at the intersection of 17 Street and Alaska Highway. Ideal location for strip mall, service station, etc.

#7441: 80 ACRES OF INDUSTRIAL LAND with high-way frontage, railway tracks, water and sewer in the City of Dawson Creek. Asking $31,250 per acre

#9257: THE SOUTH PEACE UNITED CHURCH IS FOR SALE. OVER 11,000 SQ. FT. - Sanctuary, hall, kitchen, offi ces, and support services. Excellent corner loca-tion, zoned commercial, very good condition, ready for an offi ce conversion.

#8542: INDEPENDENT VIDEO STORE for sale, been in business for over 20 years. Shows a steady income, long term lease is available on the building.

#9394: 2 YEAR OLD 32 FT. BY 60 FT. SHOP designed for 2 separate users on .4 of an acre. Each unit with overhead door, mandoor and washroom. Fenced and graveled. Asking $295,000

RE/MAX DAWSON CREEK REALTY 1-888-214-5871DAWSON CREEK COMMERCIAL EXPERTS

D A W S O N C R E E Kwww.dawsoncreekrealestate.ca

TOM MORAN [email protected]

LLOYD SMITH [email protected]

#9452: 3200 SQ. FT. SHOP built for 4 individual bays with 14 ft. doors situated on 3 lots. Asking $560,000 and owner will consider leasing.

SOLD

SOLD

#9690: INDUSTRIAL LAND - 27 acres of Industrial land on Bi-Pass (Dangerous goods) Highway. Approx 5 acres already fenced & graveled, all services are available, over 1000 ft of Highway frontage. Prime location across from the new Cal-Frac location & the Ferus nitrogen plant.

#9034: HILLSIDE VILLAS (90% SOLD) Brand new condos (total 1,917 sq ft each), 6 appliances, 2 bdrms & den up, full bsmt, well priced at $209,000. Great location & view of Dawson Creek, would make an excellent rent-al. Last phase & only 3 units left. Available immediately!

SOLD

LEASED

Elaine Kienzle250 563-8769www.elainekienzle.com

Residential Development Opportunity13 lots - 1.1 ac located adjacent toConnaught Hill Park - walk to downtownzoned RS2 - single detached housing

83.7 Acres within city limits $295,000near the airport & Ritchie Broscity sewer & water available nearbyOCP supports rezoning for res subdivision

Riverfront Townhouse site $575,0001.76 acres - approx 263’ of riverfrontzoned RM1 - multiple residentialpreliminary drawings for 13 townhomes

PRINCE GEORGEOpportunities

Cluculz Lake OpportunityPerfect location for family fun & Investment!

Parcel 1 - 55 acres, 3 titles $545,000approx 1650’ of lakefront, easy access

Parcel 2 - 26 acres, 2 titles $365,000approx 1450’ of lakefront, hwy access

Get ready for Spring … Invest in waterfront now!

Highway Exposure - 1/2 acre lot $789,500near Costco, Winners & Future Shop3664 sq ft building plus basementzoned M3 - Business Industrial

Established Business For Sale $349,000entertainment rental & event planningextensive equipment list & 2 cube vansover 13 years name recognition

TERRACE INVESTMENTPROPERTY

DAVE MATERI

250-638-1400COAST MOUNTAINS

Call listing realtor for complete info packageGO TO

for a direct link to the above listing

B10 Northern British Columbia www.westerninvestor.com FEBRUARY 2011 WESTERN INVESTOR

F O R T S T J O H N I N V E S T M E N T O P P O R T U N I T Y

RON RODGERS Managing Broker/OwnerT: 250 785 4115 F: 250-785-4120

9912 100 Ave. Fort St John BC V1J 1Y5 www.northeastbc.com

Email: [email protected]

NORTH EAST BC REALTY Ltd.Investing Our Energy In The North

FOR SALE INDUSTRIAL COMPLEX 12,577sf Building Currently Leased2.619 Acres located on 100th Ave Asking $1.6 Million (Exclusive)

Modern business offi ce space. Warehouse includes 10 TON overhead crane plus 3 work bays and 1 drive thru bay. Large paved yard plus covered storage. Excellent access off 100th Ave close to truck by-pass, city amenities & more.

Viewing by appointment – call Ron for more information

250-961-5478RE/MAX Centre City Realty

www.pgcommercial.caEach offi ce is independently owned and operated

GEORGE Weinand

250-960-9556KEN Goss

250-565-7653

— Your PRINCE GEORGE Commercial Professionals —FOR SALE

1550 - 1st Ave .................................... N4504391 ..........44,080 sq ft warehouse ................$3,750,000.00

1440 - 2nd Ave .................................. N4504001 ..............5,386 sq ft offi ce ............................ $450,000.00

1108 Boundary Rd ............................. N4504492 ..............9,000 sq ft warehouse ........................................

1505 - 3rd Ave ................................... N4504231 ..............19,642 sq ft retail ..........................$1,250,000.00

2493 Perrin Heights .............................. N196245 ..............Residential land ................................. $45,000.00

9444 Rock Island Rd. ......................... N4504171 ...............5,200 sq ft warehouse ...............................SOLD"Bee Lazee RV Park". ..........................N4504404 ...............Business/land/buildings .................$1,500,000.00

3041 McGill Cres. ...............................N4504234 ..............17,000 sq ft retail ..................... $1,775,000.00

2222 Balsam Ave. – Quesnel ............ N4504291 ...............14,000 sq ft warehouse/offi ce ...........$779,000.00

9368 Milwaukee Way .........................N4504301 ...............31,640 sq ft warehouse ................ $2,500,000.00

1921 Upland St...................................N4504330 ..............12 unit multi-family .......................... $850,000.00

508 George St. ................................N4504232 ...............retail (restaurant) .......................... $2,000,000.00

'Domano Florists' ................................N4503630 ...............Business Only ..................................$120,000.00

'The Inn Flower Place' ..........................N4503632 ...............Business Only .................................. $139,900.00

1527 - 3rd Ave ...................................N4504230 ...............4,772 sq ft retail ............................. $600,000.00

971 Hart Hwy .................................... N4503912 ...............Land - 5.02 Acres ........................... $350,000.00

Lot #1 Atwood Rd. ..............................N4504036 ..............Land - 78.8 Acres ........................... $850,000.00

4986 Hartway Dr................................N4504045 ...............Land - 0.31 Acres .............................. $80,000.00

5008 Hartway Dr ...............................N4504046 ...............Land - 0.263 Acres............................ $70,000.00

Fraser Lake, B.C. ..........................N4504181-4194 ..............Land .................... Industrial/Commercial varying

Chief Lake Rd...................................... Sub-lakeshores land ...................................................$20-35,000.001594 – 3rd Ave. ................................ N4504221 ..............13,372 sq ft retail/offi ce ............... $1,900,000.0026485 Telegraph Rd. – Vanderhoof .... N4504362 .............539 Ac. Residential ....................... $700,000.00996 Central St. ................................... N4504419 ..............LAND ............................................ $190,000.00978 Central St. ...................................N4504420 ...............LAND ............................................$185,000.00

FOR LEASE1644 & 1842 - 1st Ave ................ N4503867 .............13,500 - 17,000 sq ft ..............WAREHOUSE481 - 3rd Ave .............................N4504221 .............5,526 sq ft + 2,976 sq ft ............ INDUSTRIAL 1108 Boundary Rd ....................... N4504015 .............9,000 sq ft ............................... INDUSTRIAL9809 Milwaukee Way .................. N4504147 .............2,945 sq ft ............................... INDUSTRIAL9080 Penn Rd ............................ N4503984 .............25,660 sq ft ...........................WAREHOUSE678 Vancouver St ...................... N4504034 .............1,985 sq ft ....................................... OFFICERiver Rd. .................................. N4503911 .............19,224 sq ft ......................................RETAIL

1550 - 1st Ave. Investment Opportunity 3 concrete block warehouses on 3 Acres.44, 080 sq ft total space.

9368 Milwaukee WayLocated on 3.74 Acres, 31,640 sq ft major fabricating/manufacturing facility.

1921 Upland St. 12 unit apartment building

1440 – 2nd Ave.Quality extremely well maintained 5,386 sq ft

Offi ce Building. Professional Tenants.

1108 Boundary Rd.9,000 sq ft cement block building on 2 Acres in

the Danson Industrial Park. Fenced compound.

$699,000

8% Cap Rate

Remax Action Realty 1991 [email protected]

[email protected] Toll Free: 1-888-785-5520

10004 - 94th Ave2800 sq ft shop with offi ce/reception area.

1-10’ & 1-12’ door + mezzanine for storage.$549,900 MLS# N4504434

LOCATION, LOCATION, LOCATION!

7142 – 252 Rd. Approx 10 minutes from town. 4 offi ces. Shop has 22’ ceilings, 10 ton crane over in-fl oor steel tracks, 5 bays

(1 drive through). $9.25/ sq. ft. MLS# N4504464

FOR LEASE

6511 Wildmare Sub., Chetwynd10,000 sq ft with offi ce/drive through wash bay.

8,000 sq ft leased until Nov/2011.3.86 Acres. $900,000 MLS# N4504479

GREAT INVESTMENT PROPERTY

9424 - 100th Street3 Units fully leased. Annual gross rents are

$72,000/yr. Upgraded furnace & exterior, good exposure. $589,900 MLS# N4504195

REVENUE GENERATOR!

12672 Mukluk Frontage Rd.2 buildings on .91 of an Acre with the 2 bdrm. and log structure grossing $2150/month. C-2 Zoning on Alaska Highway frontage

$439,900 - MLS# N4504328

HIGHWAY FRONTAGE

FORT. ST. JOHN

The Power Of Partnership!

KATHY MILLER CURTIS ROBINSONPERSONAL REAL ESTATE CORPORATION

9929 - Swanson Street10.35 Acres, 12,500 sq ft Warehouse/Manufacturing Bldg, 5-18'

overhead doors, 1-10 ton & 2-5 ton crane; offi ce bldg has 3 offi ces & 10 x 32 Atco trailer. $3,200,000 MLS# N4504450

RELOCATE & EXPAND HERE!

RECESSION PROOF BUSINESSTHRIVING TAXI

COMPANY IN WILLIAMS LAKE, B.C.

Only company in Williams Lake. Diverse business with contracts for CN Rail and Canada Post, WCB etc. Shares sale.

Included:Land and Building, Cars and licenses.Business related equipment.

Asking price $495,000 Over $750,000 Gross/year.Financial papers available on request.

Call (250) 392-4056 or e-mail [email protected]

Building For Sale or Lease! Ideal space for franchise type operation. Great Hwy exposure, with ample parking. Video store has moved out after 12 years. Space is located in busy strip mall with convenience store, laundromat, beauty salon and pizza outlet. Currently residential suite in basement is rented. 1419 sq ft of retail/ office space available on main floor. Reasonably priced to sell or lease. Asking $229,000 Call for more details! Dana Hinsche 150 Mile RealtyCell: (250) 398-0914E-mail: [email protected]

EXTREMELY BUSY LOCATION AVAILABLE IN WILLIAMS LAKE!!

www.ranchesonly.com


welve months after the Winter Olympics ended in Vancouver and Whister, tourism and real estate

officials are still searching for a definite reading on the impact of the giant games.

Undoubtedly a public relations hit – with international coverage and wild, wide public participation – the bottom-line numbers, as seen in hotel occupancies and Whistler real estate prices, are still not encouraging.

Vancouver was voted the best Canadian destination by U.S. travel agents last month, but the city has won the same accolade for the eighth-straight year, so the Olympics are only part of the equation.

Dayna Miller , Tourism Vancouver’s director of sales and travel trade, was in New York to accept the award. “This is significant because it’s voted on by travel agents – the front-line travel influencers who work direct-ly with potential visitors to Vancouver,” said Miller.

Meanwhile, Whistler Blackcomb hopes that exposure from the 2010 Winter Olympic and Paralympic Games will help attract new share-holders in its initial public offering (IPO).

In a preliminary prospectus that Whistler Blackcomb used in announcing its IPO, the resort said it hopes to see the same post-Olym-pic boost experienced by Salt Lake City after the 2002 Winter Olympics.

According to the National Ski Areas Association, in the five-year period follow-ing the Games, skier visits in Utah rose 6.2 per cent on average, a rate five-times faster than the North American ski industry as a whole.

Surveys conducted by Tourism Whistler show global awareness of Whistler has increased substantially, with top-of-mind awareness rising to 42 per cent from 19 per cent in Germany, 62 per cent from 48 per cent

in Australia and 45 per cent from 32 per cent in the U.K.

So far the rising knowledge of Whistler has not translated into higher real estate sales or prices. According to BC Assessment the market value of homes in Whistler is dropping, and one long-time local realtor agrees.

“The majority of homes in the Resort Municipality of Whistler are worth slightly less on this year’s assessment roll than they were on the 2010 assessment roll,” said Jason Grant, area assessor.

“Most homeowners in Whistler will see decreases in the -2 to -5 per cent range.”

The news is not a surprise, said Whistler Real Estate’s Pat Kelly . If anything, BC Assessment’s numbers might be on the conser-vative side and some values may have dropped even further, he said.

“Certainly the experience we’ve had is it has not gone up,” Kelly said. “I don’t expect it to change this year.

“I would have to agree with their assess-ment.”

When it comes to real estate sales in Whistler as a whole from July 2009 to July 2010, the current assessment period, there has been no increase in the number of transactions from the previous year and only a small increase in overall value of total sales, Kelly said. In fact, three of the four major sectors have gone down in value, he added.

However, while Lower Mainland-based Grouse Mountain Resorts and Mt. Seymour Resorts and Okanagan-based Big White and Silver Star Mountain Resorts are seeing an increase in sales to date this season, none of the three resorts is leveraging Olympics exposure to lure new international business.

The factors helping boost sales at each resort vary, but the primary ingredient at all three is the large snowfall that is expected to blanket much of B.C. this year as a result of the la niña

RECREATION FEATURE Olympic payoff proves elusive for Vancouver hotels and Whistler real estate sales

WI STAFF

WESTERN INVESTOR

One year ago exuberant crowds packed Vancouver streets in Olympic celebration, but hotel bookings quickly calmed down.

weather pattern that is bringing colder tempera-tures to the region.

Mt. Seymour sales and marketing co-ordi-nator Julie Mulligan wouldn’t disclose fig-ures but said that the North Vancouver-based mountain has sold more season passes this year compared with sales last year at this point.

She said the mountain is marketing to the same customer base it has in previous years: Lower Mainlanders.

The Olympics was neither a boon nor a bust for the mountain. Mt. Seymour’s regular local traffic was, however, supplanted by tourists during the Games.

Will Mbaho, spokesman for Grouse, attrib-uted the resort’s higher sales this year not only to the optimistic weather forecasts but to recent attractions added to the resort.

The company added a zip line two years ago that continues to draw new visitors.

As well, the hill’s Eye of the Wind attraction, which is a wind turbine with an elevator and

observation deck, has attracted 10,000 visitorssince it opened at the start of summer.

“That’s been a tremendous draw for us,” said Mbaho.

He said Grouse is only marketing locally andregionally. It hopes for, but doesn’t expect, an Olympics-related increase in traffic.

“Having a show like NBC’s Today Showhere, broadcasting for the duration of the Olympics, has increased our profile, and weare probably more familiar to Americansnow,” Mbaho said. “We expect our neigh-bours to the south will be looking for us in the winter.”

Michael Ballingall, senior vice-president of Big White and Silver Star, said that inter-national traffic is expected to be flat this yearat the resorts.

“Nobody in North America is doing great numbers out of the European continent,” said Ballingall.

“It’s a money thing,” he added, noting thatthe United Kingdom – one of the resorts’ larg-est international markets – has been hit hard by the recession.

Nonetheless, the resorts have seen a 3 percent year-to-date increase in ticket sales and 10 per cent increase in website traffic. Muchof that is from the Canadian market, however. not from potential foreign visitors.

In an outlook for 2011, Tourism Vancouversees Vancouver hotel-occupancy levels fall-ing to the 65 per cent to 70 per cent range ,after posting 90 per cent occupancy during the games. The forecast sees overnight visits toVancouver from all markets rising 3.6 per centthis year, from 2010, with most of the foreign visitor increase from China. Industry analyst HVS Internationalforcecasts that revenue per available room inVancouver will remain flat this year, at $136,with Whislter down to $121 from a $149 aver-age in 2010. However, with a record 22 citywide conven-tions booked for Vancouver this year, plus theGrey Cup, hotel occupancies could be higherthan expected, Tourism Vancouver notes.◆

Phot

o: S

cott

Gar

dner

www.realestatesmithers.com [email protected]

LEO LUBBERSCell 250-847-1292 Offi ce 250-847-5999 Fax 250-847-9039

Bulkley Valley

Elementary School Complex (Smithers BC)Prime Central location with ample parking and municipal services 23,780 sq’ frame/block building on 1.41 acre zoned P-2 (public use)

Allowed uses include extended care, cultural, recreational. Voluntary Social service organizations, senior’s facility.

Features 7 classrooms, administration, Gymnasium, kitchen, Library, music , learning assistance rooms and washrooms.

Well maintained and available school year ending June 2011

HOTEL Prince George, BCPrice $8,900,000.00

120 spacious guest unit with full service hotel. Facilities for conferences, beautiful exterior with a relaxing indoor oasis. revenues are higher than the hospitality industry's average rates. Operates with non-franchise and well organized 100% unionized staff. Located on major Highway & minutes from the International Airport. Be proud to own this reputable Hotel Price of $8,900,000.00

Contact: John, C NamDirect: (604) 805-9131 Fax: (604) 931-1209Email: [email protected] Banker CommercialVancouver, BC Canada COMMERCIAL

Successful Disposal Company

For SaleSuccessful garbage disposal business in Prince Rupert, BC for sale. Share sale asking price of $580,000.

For further information contact Vohora & Company, Chartered Accountants at 250 627 1371 or 604 541 9890.

Financial details available for serious enquiries only

CANADIAN $ IS NEAR PAR WITH U.S. $CANADIAN $ IS NEAR PAR WITH U.S. $

LOOKING FOR AHOME IN THE

METRO PHOENIX AREA?

CAM BURRONU of S AlumniPRUDENTIAL AMERICANVIP Relocation Specialist480-786-4351Email: [email protected]

Use a SaskatoonBorn & Raised Realtor!!

I recently Sold an 1800 sq. ft.3 bed / 2 bath, 2006 built

home in Chandlerfor $215,000

ORIGINALLY SOLDFOR $460,000!!!

LOTS OF DEALS TO BE FOUND!

HOT PROPERTIES

Investment Opportunity Tenant in Place at $895 22169 W Tonto St, Buckeye 1,831 square feet, 4 beds, 2 baths, new carpet, fresh interior paint throughout, built in 2006. Located close to freeway, shopping and Sundance golf course.

For Sale: $87,500

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.

Contact us to start your portfolio today.

Phoenix Area

Average Sales Price per Square Foot

ARMLS Residential - All Areas and Types

Acquire RealtyThe Future TeamCall Toll Free: 1-855-234-3342

13755 W Earll Dr, Avondale, AZ 85392Acquire 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, Goodyear and Surrounding Areas. We would love to help you find your vacation home or investment property.

Sold Price: $18,000Currently Rented: $595 City: PhoenixSquare Feet: 1,080Year Built: 1973

Sold Price: $27,000Currently Rented: $650 City: PhoenixSquare Feet: 1,154Year Built: 1962

Sold Price: $36,900Currently Rented: $650 City: YoungtownSquare Feet: 1,052Year Built: 1958

Sold Price: $37,000Currently Rented: $700 City: El MirageSquare Feet: 1,068Year Built: 2000

Sold Price: $46,500Market Rent: $725 City: El MirageSquare Feet: 1,145Year Built: 2001

Sold Price: $61,888Currently Rented: $750 City: BuckeyeSquare Feet: 1,096Year Built: 2005

Sold Price: $67,000Currently Rented: $900 City: El MirageSquare Feet: 1,609Year Built: 2006

Sold Price: $85,000Currently Rented: $950 City: BuckeyeSquare Feet: 2,097Year Built: 2006

Sold Price: $95,000Currently Rented: $900 City: SurpriseSquare Feet: 1,671Year Built: 2004

Sold Price: $105,000Currently Rented: $995 City: AvondaleSquare Feet: 1,678Year Built: 2003

Sold Price: $150,000Currently Rent: $1,250 City: LaveenSquare Feet: 2,208Year Built: 2005

Sold Price: $181,500Currently Rented: $1,595 City: GoodyearSquare Feet: 3,038Year Built: 2005

Introductory pricing now available on lakefront, marina, lake view and pond lots on Last Mountain Lake, SK

Lot prices start at $165,900 for lake front; $135,900 for marina; $69,900 for lake view and $49,900 for waterfront pond lots. All lots have no immediate building

commitment. Reserve your lot selection with only 5% down. Home package pricing and a limited number of marina slips are also available.

Visit www.SunsetAcres.com for details, call 1-800-220-4865or email [email protected]

WESTERN INVESTOR FEBRUARY 2011 www.westerninvestor.com Recreational Real Estate HOT PROPERTIES B13

“The Source” for Oceanfront, Lakefront, Islands, Ranches, Resorts & Land in BC at:

www.landquest.comLandQuest Realty Corp Smithers

LandQuest Realty Corp Courtenay

LandQuest Realty Corp Nanaimo

LandQuest Realty Corp Cariboo – LandQuest Realty Corp Williams LakeLandQuest Realty Corp Fraser Valley

3A® Network Group

$39,000 per lot

FINEST FARM LAND IN BC COMOX, VAN ISLE

EXCELLENT FAMILY FARM PRESPATOU, BC

3A® Network Group

$389,000 No HST

LOVELY FAMILY OR EXECUTIVE HOME - NEAR 100 MILE HOUSE

TURN-KEY BUSINESS PRICE SLASHED

$425,000

10 ROOM MOTEL + MANAGER SUITE - LAC LA HACHE, BC

$545,000 6.5M

11 ACRE MARINA HARRISON HOT SPRINGS, BC

$6.8M

57 ACRES VALEMOUNT 205 LOT SUBDIVISION

$1,395,000

$595,000 $6,950,000

$399,000 + inventory

RESIDENTIAL LOTS POUCE COUPE, BC

SOUTH CARIBOO ACREAGES VIEWS OF LAC LA HACHE

$1,350,000

MOTEL BUSINESS OPPORTUNITY WELLS, BC

$39,500 - $99,000

$590,000

KOOTENAY LAKEFRONT

TROPHY LAKEFRONT ESTATE SHERIDAN LAKE, BC

1,695,000

SHUSWAP LAKE DEVELOPMENT ACREAGE

$995,000 $419,900

OUT OF THE BLUE RANCHPRINCETON, BC

$1,195,000

$900,000

FLY-IN TROUT FISHING LODGECRAZY BEAR LAKE, CHILCOTIN, BC

SPORTFISHING OUTFITTER TOFINO, BC

DEAN RIVER RANCHES CHILCOTIN REGION OF BC

COAST LODGE OCEAN FALLS, BC

$239,000 $450,000

$3,290,000

563 ACRE RIVERFRONT EQUESTRIAN RANCH-PRINCETON

SQUIRREL COVE TRADING CO. CORTES ISLE - DESOLATION SOUND

$1,990,700

THE JOLLY ROGER SECRET COVE, SUNSHINE COAST

ASPA PROPERTIES WEST KOOTENAYS

$489,000

PRIVATE RIVERFRONT HOBBY FARM - GRAND FORKS

GUEST RANCH / CAMPGROUNDGUN CREEK, BC

$795,000

MUST SELL BUSINESS & PROPERTY - TETE JAUNE LODGE

PRICED BELOW ASSESSED VALUE

B14 Recreational Real Estate HOT PROPERTIES www.westerninvestor.com FEBRUARY 2011 WESTERN INVESTOR

NN

CAMPBELL RIVER (25 MIN.)

COURTENAY (10 MIN.)

NANAIMO (60 MIN.)

VICTORIA (165 MIN.)

TOLL FREE 1.877.239.4811 COUVERDON.COM*Lot boundaries are approximate only. The Developer reserves the right to withdraw offer at any time. E.&O.E.

2 2 TO 7 0 AC R E LOTS FROM $249,900 AND UP Acreage lots also available at Elkhorn,please enquire.

Located in the heart of Comox Valley, minutes from the Inland Island Highway (Dove Creek exit), Headquarters is situated at the base of Mount Washington and is 20 minutes from the Courtenay/Comox International Airport. Features include expansive mountain peak views, rolling hills and the Tsolum River, which meanders through the property.

N

TOLL FREE 1.877.239.4811 COUVERDON.COM

CAMPBELL RIVER (15 MIN.)

COURTENAY (35 MIN.)

NANAIMO (90 MIN.)

VICTORIA (180 MIN.)

*Lot boundaries are approximate only. The Developer reserves the right to withdraw offer at any time. E.&O.E.

Elkhorn is located 15 minutes south of Campbell River in the York Road area. These open area acreages, many with views and water features, have easy access to the Inland Island Highway. Nearby amenities include Storey Creek Golf Course, waterfront on Oyster Bay and Mount Washington.

ACREAGE LOTS STARTING AT $3600 PER ACRE Acreage lots also available at Headquarters, please enquire.

Realty Ltd.

Realty Ltd.

ONLY 4 LOTS LEFT!ONLY 4 LOTS LEFT!

WESTERN INVESTOR FEBRUARY 2011 Recreational Real Estate HOT PROPERTIES/Alberta B15

Val ToffoliPhone: 780-707-9395

REALTY EXECUTIVES POLARIS4107 - 99th Street, Edm, AB T6E 3N4

Email: [email protected] • www.valtoffoli.com

Selling Edmontonsince 1987

MULTI-FAMILY APARTMENT BUILDINGS:• 7 Stes in West Central; 6% Cap Rate. Very Clean &

Well Maintained with Great tenant Profile.

• 12 ste with 80% financing available! Ctl – Near downtown, College, Hospital, new proposed Stadium & LRT – Good size stes. Great Curb Appeal

• 15 Condo Units – 13-1bdrm & 12-2 bdrm units. Ctl near downtown & college. REDUCED & open to reasonable offers.

• 18 Stes (12-2 Bdrm, 5-1 Bdrm, 1 Bach) Extensive upgrading in & out (roof/windows/landscaping/fencing). Hi Ratio financing available. East Ctl

Write: 5204 – 50 Ave., Camrose, AB, T4V 0S8Toll Free: 1-888-672-4426

Ph. (780)678-3025 Fax: (780)672-2469Email: [email protected] www.camrose.ca

DENNIS TWOMEYEconomic

DevelopmentCoordinator

Prime Highway Commercial Lots

Next to our New Hotel, Convention Centre

and Casino3 to 4 Acre Parcels - $175,000 per Acre

THE CITY OF

CAMROSETHE REGIONAL CENTRE OFEAST CENTRAL ALBERTA

Fantastic home with business in the back.

13.5 acres total land

with storage business.

Check it out online. MLS CS304624

www.TeamRush.caJerry Rush - 403-352-6775

Live Easy...Work Even Easier!!!

NETWORK REALTY CORP.3608 - 50th Ave, Red Deer

403-346-8900

Asking $2.69M

For further information, contactGary & Renée Anderson

Hospitality Sales SpecialistsDirect: 780-432-1408

[email protected]

CENTURY 21 A.L.L. Stars Realty Ltd.Office: 780.434.4700

HOTELOPPORTUNITIES

Avison Young Real Estate Alberta Inc.partnership.performance.

Visit us for sale listings, market information and the latest commercial real estate newsMULTI-FAMILY, RETAIL, OFFICE AND INDUSTRIAL INVESTMENT OPPORTUNITIES 780.428.7850

The Avison Young Edmonton Investment Team is proud to present our new website:

www.ayeinvest.com 10516 82 Avenue, Edmonton, T6E 2A4High quality main fl oor retail or offi ce space. 3000 sq ft. Loads of

upgrades, more renovations in 2010. Includes large bsmet storage area, incentives and included three rear parking stalls. Street

parking & publics transport steps away. $28 per sq. ft. plus $6.00 operating costs & utilities.

LEASE Prime Whyte Ave Retail

Please Call Michele Warwa-Handel780-464-7700

REALTY EXECUTIVESDEVONSHIRE (THE PARK)

www.realtyforyou.ca

RICK D. JENKINS780-990-6120 cellEmail: [email protected]

POLARIS REALTY Commercial Realtor

INVESTMENT PROPERTIES15 UNIT apartment, west end, all ones, many renos- 6.07 cap. Call for proforma23 UNIT apartment, University area, nice condition and 5.75 cap. Call for proforma13,231 SF RETAIL STRIP in Leduc, AB. 5 bays with good long term tenants. 9 years old. NOI over $161,000 per annum. 7.4 cap at $2,180,000. 1.45 ACRE INDUSTRIAL in Nisku, AB close to Edmonton Intl. Airport. 3,900 sf newer warehouse with 18’ grade door. Fenced and graveled. Oilpatch is back and rocking! $1,100,0001.45 ACRE INDUSTRIAL, 6,000 sf warehouse, 1,575 sf office, mezzanine, 25’ clearance, 5 ton crane with yard rails. Heavy power. Perfect for welding/sandblasting. $1,400,00068 PAD MOBILE HOME PARK in High Level, AB fully serviced, paved roads, underground utilities, fenced and landscaped, bare land condo titles. MOTIVATED OWNER WILL CARRY 75% FINANCING FOR A QUALIFIED BUYER INTEREST FREE FOR UP TO 2 YEARS!!! MLS $1,295,000

Looking for investment properties for all ICI categories. Fully qualified buyers. Call now for your complimentary evaluation and allow my 21 years of banking and 13 years of commercial real

estate experience to assist you!

Offering one of the nicest settings on Kootenay Lake on the North Shore of Beautiful Nelson, British Columbia

Estate Purchase

YOUR ADVANTAGE IN

ALBERTAFIRST CLASS HOTEL IN GREAT CITY •Asking: $27.5M, •Revenue is about $6M • Premium 176 guest rooms & suites wrapped around

1ac garden court yard •8 meeting rooms/Banquet facility •Lounge and leased out restaurant & spa on 5 acres of landSHOPPING PLAZA, HOTEL IN BIG CITY •Asking: $14.9M • REV: $2.3M: Hotel: $1,110,695; Rental: $513,253; Others: $669,734 • 48 oversized rooms plus 20 tenants and other big revenue

income source • Located in big city downtown core with 4.9 acres of land and

102,000 sq. ft. building.FRANCHISE MOTEL NEAR CALGARY •Asking: $13.4M, •103 room, 4 storey •Revenue: $2.3M •High visibility from hwy. • Business is picking up & the best location with just

2 years old and growingMONEY MAKING FRANCHISE MOTEL •Asking: $10.07M •REV: $3,158,106 •3 yrs old, very busy location •Limited Service, 85 Rooms, located in very busy cityLIMITED FRANCHISE MOTEL •Asking $7.6M •3 years old, 4 storey, 60 rooms •Swimming Pool w/water slide •Situated with excellent exposure in big city, ABFRANCHISE MOTEL IN CENTRAL AB. •Asking: $7.29M, 66 rooms, 2.35 Acres.FRANCHISE MOTEL WITH LEASED RESTAURANT & RENTAL PROPERTY •Asking: $7M •NOI: $837,000 •REV: $3,185,500 •42 rooms •Lounge and Liquor Store with Leased Restaurant & othersFRANCHISE MOTEL •Asking: $5.99M •81 rooms • Located steady growth town with over 10,000 PopulationFRANCHISE MOTEL NEAR CALGARY •Asking: $5.07M, Revenue: $1.1M •48 Rooms with owner suite plus manager suites •Steady revenue during recession periodFRANCHISE MOTEL NEAR CALGARY •Asking: $5M, •41 room w/ leased Boston Pizza •1.5 Acres, ready to add 20 rooms.MOTEL IN B.C. •Asking: $5.09M •REV: $1,373,000 •81 Rooms w/Leased Restaurant & Lounge •Waterslide, Sauna, Pool •Located Trans Canada highway with amazing view •Can be converted as franchise MotelWELL MAINTAINED MOTEL •Asking: $2.19M, •Revenue: $539,491 (3 yr avg.) •32 Room •1.98 Acres land •27 Kitchenettes, fitness room and manager suite.MOTEL WITH RV PARK •Asking: $1.57M •42 rooms, 3.89 Acres. •17 RV Site, 5 bedroom Managers suiteCAR WASH NEAR CALGARY •Asking: $3.89M •Revenue: $700,000, •7 bay and 1 auto. •Year: 2004.GAS BAR & C STORE WITH AUTO CAR WASH •Asking: $2.48M •Revenue: $3,711,887 (10m) •NOI: $337,217 •Located booming central AB.GAS BAR WITH CAR WASH IN GREAT CITY •Asking: $1.67M •Revenue: $3,303,344, NOI: $260,000 •Fibreglass tank, 7 Bay coin and 1 Touchless Car Wash • 10,000 sq ft building located on Trans Canada Hwy in Booming City! •Well settled station in great town.

MAXWELL SOUTH STAR REALTY • www.leechoonho.com

FRANCIS LEE, Associate BrokerIC & I Full Commercial Member • Manager Business & Investment Div

For More DetailsTel: 403-253-5678

Email: [email protected]#20, 8180 Macleod Tr. South, Calgary

www.westerninvestor.com

WESTERN INVESTOR FEBRUARY 2011 www.westerninvestor.com Alberta B17B16 Alberta www.westerninvestor.com FEBRUARY 2011 WESTERN INVESTOR

Accelerating success.

FORT MCMURRAY OPPORTUNITIES

> Up to 18,000 square feet on .89 acres

> Build to suit your design

New Star Capital, Taiga Nova Eco Industrial Park

> Up to 15,000 square feet on 1.09 acres

> Build to suit your design

240 Taiga Nova Crescent

> Up to 50,000 square foot building

> Situated on 4.4 acres

> One building or two separate buildings on 2.2 acres each


> Bay 102, 4588 square feet > Bay 202, 3364 square feet




> Bay 201 , 3703 square feet > Bays available for sale or lease

INVESTMENT OPPORTUNITIESTAIGA NOVA ECO INDUSTRIAL PARK - OPPORTUNITIES

145 Macmillan Road

270, 280 & 290 MacLennan Crescent - Excellent opportunity with quality tenants in Mackenzie Industrial Park

> 16,800 square foot building

> Fully leased

> Annual escalators

> Quality tenants

> Lease runs another 8 yrs

> NOI $716,000 rising to

$836,000 by 2015

> 270 MacLennan Crescent PENDING

> 7,500 square foot building on 1.33 acres

> List price $4,200,000

> 280 MacLennan Crescent AVAILABLE

> 15,000 square feet of newer fully leased buildings on 2.33 acre lot

> NOI $672,000, List price $7,500,000

> 290 MacLennan Crescent PENDING

> 15,000 square feet of newer fully leased buildings on 2.33 acre lot

> List price $9,500,000

Fort McMurray Business Centre

> Fully leased

> Sits on 3.48 acres

> 2.5 acres of excess land

> Excellent investment with

room to expand and

enhance income

> List price $9,500,000

Main Street

BAYS FOR SALE OR LEASE

TAIGA NOVA BUILD TO SUIT OPPORTUNITIES


> Bays for sale

> Bay 3, 2505 square feet, $1,090,000

> Bay 4, 2505 square feet, $1,090,000

> Bay 6, 2513 square feet, $1,095,000

> Bay 7, 2505 square feet, $1,090,000

> Bay 8, 2505 square feet, $1,090,000

RE-DEVELOPMENT OPPORTUNITIES

Main Street and Gordon AvenueThis 15,900 square foot site is ready to build a 21 unit condominium

project to sell or rent out. Excellent value and location. Don’t miss out

on this development opportunity. List price $1,500,000

Golden Eagle RV ParkThis 140 unit RV park sits on 29.04 acres of land with close proximity

to the airport. Fully leased and ideal for a re-zoning application over to

industrial use. This property off ers excellent value and potential while

off ering a holding income. List price $23,800,000

MacKenzie Industrial Park for leaseBrand new building. 3 bays available, 900, 1000 and 900 square

foot units. Available with or without adjoining interior storage units.

Reasonable rent and terms. Excellent value for the right tenant.

Rates as low as $37/SF. Excellent offi ce or retail location and use.

Ken Shebib, CCIMMOB +1 780 863 7355 Edmonton DIR +1 780 881 6297 Fort [email protected]

Twin TowersThis 1+ acre site is located in the heart of

downtown Fort McMurray and has approval in

place for 240 residential condominiums and

30,000 square feet of commercial/retail space.

Available for less than $42,000 per door, List

price $10,000,000

McMurray Bowl LandThis 2 acre site off ers Hwy 63 exposure along

with existing buildings.Operate the businesses or

re-develop the property. The site has 3 separate

titles, so the opportunity exists to sell off portions

of the property as desired. Massive exposure and

excellent opportunity.

10020 MacDonald Avenue53,300 SF lot with 13,000 square foot building,

fully leased and ideal for re-development for

offi ce with good fl oor retail, hotel, or parking

structure development.

Prime downtown location

Hwy Commercial Land (Group of 11)This 6.75 acre development site off ers the best

possible exposure in Fort McMurray along Hwy

63 South, the ‘gateway to the city”. Prime for

residential, commercial, retail,

hospitality, or other developmentsKrishna Investments, Taiga Nova Eco Industrial Park

B18 Alberta www.westerninvestor.com FEBRUARY 2011 WESTERN INVESTOR

EDMONTON OFFICE 202, 2520 Ellwood DriveEdmonton, AB T6X 0A9 p: 780 463 3332

CALGARY OFFICE Suite 200, 407 – 8th Avenue SWCalgary, AB T2P 1E5 p: 403 290 0178 f: 403 262 1314

SOLUTIONSCOMMERCIAL REAL ESTATE Property

Management Office, Retail, Industrial

SALES AND LEASINGLand, Investment

SALES

INVESTMENT TEAM

SOLD840 Cambie Street • Vancouver, BC

Historic character office building

SOLDQueen Street Place • Spruce Grove, AB

Medical centre

SOLDDatalog Building • Calgary, AB

Warehouse/office space in Highfields Industrial

Build to Suit in Eastlake Industrial

SOLDKFC restaurants • Alberta and British Columbia

A portfolio of 13 restaurantsSOLDAecon Lockerbie Facility • Sherwood Park, AB

Fabrication complex and assembly yard

SOLDMain Avenue Mall • Sundre, AB

Retail centre

SOLDFairview Industrial • Calgary, AB

Warehouse and shop space

SOLDFiesta Plaza • Olds, AB

Retail centre

SOLDMidpark Court • Calgary, AB

Office building

SOLD6210, 6330 – 75th Street • Edmonton, AB

Two single tenant office/warehouse buildings

SOLDCentral Apartments • Brooks, AB

Apartment building

Earl Adelman, Associate

Greg Albright, Associate

Kelly Carver, Associate Broker

Doug Grinde, Associate

George Larson, Associate

Richard Lewis, Associate

Bill Lloyd, Associate

Jeff Robson, Associate Broker

Ryan Swelin, Associate

David Wallach, Broker

CALGARY 403-290-0178EDMONTON 780-463-3332

SOLDDatalog Building • Calgary, AB

WWW.BARCLAYSTREET.COM

INVESTMENTS SALESPERFORMANCE


13,000 to 52,000 sq. ft. - Fall of 2011• 4.44 Acre Site • Lease or Purchase Options• 30' High Buildings • Experienced Developer• LARGE Rear Yard! & General Contractor

www.property-solutions.ca

Mike George ......................403.396.0026Bill Schoemaker ............403.391.2324

COVER Fort McMurray faces a severe land shortfall as major projects fire up in the resurgent oilsands

Please see Oil prices page B20

DAVE HUSDAL

WESTERN INVESTOR

shortage of ready-to-develop land around Alberta’s oilsands boom-town has Fort McMurray officials

wondering how they’ll meet the demands of 2011 and beyond – particularly as more major projects move forward.

“We could be a year to a year-and-a-half with no single-family lots available,” said BryanLutes, president of both the local Urban Development Institute (UDI) chapter and the Wood Buffalo Housing and Development Corp.

Only 17 months ago, back in September of 2009, the urban heart of the sprawling Municipality of Wood Buffalo boasted about 1,500 single-family lots ready for builders. That inventory had fallen to about 290 at the end of 2010, Lutes said.

“The likelihood of us burning through those 290 in the next six months is very high,” Lutes predicts.

“By this summer, we should be out of sin-gle-family lots, other than what’s in people’s inventories.”

New lots could come on the market at the end of 2012 in the Parsons Creek/Parsons North area on the northern edge of urban develop-ment in Fort McMurray.

Lutes says there’s definitely demand for the single-family lots in Fort Mac, and the lack of lots may limit what builders can do to reach Canada Mortgage and Housing Corp.(CMHC) projected 2011 new-housing numbers for the region.

CMHC is predicting 600 single-family housing starts for all of Wood Buffalo, along with starts for 450 multi-family units in 2011. Lutes said there should be an adequate sup-ply of serviced land for CMHC’s multi-family projection.

Housing supply and cost has long been one

of many growth issues to dominate the agenda in Wood Buffalo and its urban heart, but the slowdown from the out-of-control boom of 2006 and 2007 has yielded a few steps for-ward.

According to the municipality, Wood Buffalo’s rate of homelessness was down 41.9 per cent in 2010 from a few years ago, and that the actual number of people couch surfing in Alberta’s most expensive region had dropped to about 320.

The root of homelessness in Fort McMurray is both the rate of growth in the city and the cost of living.

Consider rents in the boomtown: $1,792 for a one-bedroom apartment, $2,210 for a two-bedroom and $2,525 for a unit with three or more bedrooms, according to CMHC’s figures from October 2010. The vacancy rate was around 5.5 per cent, but heading lower, in the estimate of locals.

Adding to demand will be things like the resumption of construction of Suncor’s Voyageur upgrader about 40 kilometres north-west of the city.

Suncor announced in late 2010 that it wants

to hike overall oil production by 8 per cent peryear in the coming years, mostly by hiking oil-sands production by 10 per cent per year.

Suncor’s capital budget for 2011 is roughly $6.7 billion, with about $4.18 billion of thatamount to be spent on oilsands development– much of it mining and upgrading operationsclose to Fort McMurray.

The average price of a single-family home in Fort Mac hit a yearly high of around $704,000for November 2010 (it fell to $688,000 the fol-lowing month), and the rental option is morethan twice as expensive in Fort McMurray as it is in Alberta’s biggest urban centres, Calgaryand Edmonton, where CMHC pegs the month-ly cost of a two-bedroom apartment at $1,069and $1,015 respectively.

Still, investors looking for property in the oilsands capital can find one-bedroom apart-ment-style condos in the range of $230,000. Per-square-foot prices on many older condo properties are less than $300.

More residential properties sold through theFort McMurray Realtors Association in 2010 than in 2009 (sales up 9 per cent), and RoyalLePage True North Realty broker/ownerMarian Barry expects a positive 2011.

“Both inventory and sales have started to pick up and we anticipate that trend to continue with 2011 looking very positive for the housing market,” Barry said.

The home-building sector isn’t the only one carefully watching land availability. Things are even tighter in the market for developable commercial and industrial land, in part because the province only committed to bringing moreland on the edge of Fort McMurray forward fordevelopment in August 2010.

Since that time, it has listed about 980 acres of land along Highway 63 south of the city with Avison Young. The realty and leasing firm was taking bids from prospective developersfor the land until January 12, and was expect-ing to have a chosen developer by the end ofthe month. The asking price for 980 acres of

(TOP) Bryan Lutes, presi-dent of the local Urban Development Institute chap-ter and the Wood Buffalo Housing and Development Corp.: “burning through the land supply.” (LEFT) Oilsand projects have roared back to life as oil prices rise.

Phot

o: S

hirle

y Li

n

Phot

o: S

unco

r


COMMERCIAL (RE/MAX Excellence)

17718 - 64th Ave Edmonton, AB T5T 4J5 (780) 429 - 1200 1(866) 481 - 2950

w w w.RemaxComm.ca

BUSINESSES

Edmonton’s Business & Investment Specialists

7 Bay Auto Wash - SE Edmonton. On 0.43 Acres - PENDING18 Hole Golf Course - Central AB. 136 Acres. Well maintained.

Power carts, driving range and more! - $2.75M3 Restaurants (Business or Equipment & Leaseholds)-

Full details upon signing of Conf Agreement - Call For InfoCALL AYAZ OR SAM AT 780.641.1320

INVESTMENTNisku Multi Tenant Building - Fully leased. On 1.24 ac - $2.4MSwan Hills Hotel - $2M Revenue - $1.3MPremier Lodge - Valemount BC - $4.88MCamrose Hotels - Great Locations - $2.9M - $4.5MSouth Edmonton - 44 rooms with expansion - $3.65M

CALL AYAZ OR SAM AT 780.641.1320

MULTI-FAMILY20+ Units Strata Titled - $98,000 per door - PENDING21 Units - Near NAIT - $105,000 Per Door20 Units - 124th Street - $98,000 Per Door15 Units - West Edmonton - $105,000 Per Door

Additional M/F Buildings For Sale - Contact Miki Today!

CALL MIKI O’REE AT 780.200.6454

INDUSTRIAL 118 Ave Redevel. Opp - 4500 SF Comm Office & Whse. - $624,700

LAND Nisku Commercial Land - 5 Lots. Zoned CS - $550,000/Acre Nisku Land - 1.1 Acres - $479,000


LEASING Leduc Plaza - Prof/Medical Space Avail. www.LeducPlaza.com


250, 1261 & 2774SF - Spruce Gr. Full Commission to Tenants Rep

CALL MIKI O’REE AT 780.200.6454

CALL DEAN DRYSDALE AT 780.953.4585Bottle Depot Business - Central AB. 5 Day Operation. $1.2M

CALL RAJAN NULLIAH 780.441.5419

HWY II Motel - 36 Rms. Excellent condition. 2.64 Ac. - $2.099MCALL RAJAN NULLIAH AT 780.441.5419

A&W Franchise Partner Program- Edm loc - Call For InfoJoey’s Restaurant Franchises - Edm locations - Call For InfoFamoso Neapolitan Pizzeria Franchises- BC- Call For Info

CALL NATHALIE LACROIX AT 780.243.7757

10355 Whyte Ave - Retail Space 2770 - 5700SF. $38.00/SF + OP

CALL ALLY PIRMOHAMED AT 780.604.0302

Land/Bldg For Sale - Spruce Gr. 5500SF on 0.7 ac. - $849,000

CALL ALLY PIRMOHAMED AT 780.604.0302South Edm Indian Restaurant - Well Established - $200,000

CALL RAJ BHARDWAJ 780.983.4211

Retail Condo w/ Business & Inv- 9356 34 Ave. - $562,900

CALL RAJ BHARDWAJ AT 780.983.4211

from B19raw land with three-plus kilometres of high-way frontage? A cool $29.4 million, based on $30,000 per acre.

“The government is going to select a devel-oper to come in, take it over and do all the nec-essary planning and engineering. It’s likely somebody will be selling parcels probably 14 to 18 months down the road,” said Adam Kilburn of Avison Young.

The serviced land can’t come too soon in the eyes of some.

“We’ve received lots of interest from users, but the land won’t be in a position to be sub-divided for users for probably a year to a year-and-a-half,” Kilburn added.

Whomever is chosen to develop the parcel will have to spend a significant amount of cash on geotechnical testing long before earth starts moving and servicing can take place.

That worries development industry officials such as Lutes.

“You’d be lucky to see any dirt moved in 2011,” he said.

“Typical development timeline is three years, from land in hand to product on the market.”

That’s not great news if you’re looking for par-cels to develop in Fort McMurray, where scarce serviced-highway commercial land runs in the range of $2 million per acre, and other land for business/industrial uses can go for $1.35 mil-lion per acre, according to Lutes.

The same type of land would sell for a quar-ter to a third of that price in many locations in Edmonton and Calgary, Lutes says.

Add to the land cost the fact that labour costs are much higher in the north and it’s clear Fort McMurray isn’t a cheap place to build or buy.

Some development costs can be double or triple what they are elsewhere, Lutes says.

The municipality is taking some steps to lower costs in the downtown area of the city, known as the Lower Townsite.

A case in point: Wood Buffalo council passed a resolution in December aimed at reducing developer costs in 2011 in the Lower Townsite area covered in a redevelopment plan.

While that may not be as good as it sounds, Lutes cautions, it won’t hurt. UDI was still looking for clarification from the municipality as of early January on the net benefits of the council motion.

“This incentive program aims to make the long-term community objectives expressed in the Lower Townsite Area Redevelopment Plan a reality,” said Dennis Peck, the municipality’s director of planning and development.

According to the municipality, the initia-tive will reduce development charges in Fort McMurray’s downtown neighbourhood by 60 per cent for development applications approved in 2011. Upon approval of a development proj-ect, the fees will be calculated at the reduced cost. This decrease in fees is intended to sup-port developers to plan projects in the lower

townsite. Development charges in the lower townsite are higher than other areas because of the amount of infrastructure that needs to beupgraded to support a higher density.

Downtown incentives aside, developers arelooking at a scarcity of land and rising demand based on where the oilsands sector is expectedto go in 2011 with oil prices comfortably over$80 per barrel. “Everything we are hearing from the industry is saying everything is going to speed up here again,” said Lutes.◆

City population 72,363Regional population 103,334Avg. single-family house price $686,000 Rent, two-bedroom apt. $2,210Major oilsands projects in area 11

63

FORT McMURRAY

Athabasca

✪

ALBERTA

282

Edmonton

Fort McKay

Lac La BicheCold Lake

SASK

ATCH

EWA

N

16

✪GOLDInvestor(s) Wanted

Proven Area

15 Million

[email protected]

Call the

marketing your franchise?

1-800-661-6988 (604) 608-5110westerninvestor.com

WESTERN INVESTOR FEBRUARY 2011 www.westerninvestor.com Alberta B21

Ken ShebibMOB +1 780 863 7355 Edmonton DIR +1 780 881 6297 Fort [email protected]

GRAVEL PITSFort McMurray, AB

SML 070029, SML 020038,SML 030011, SML 810079,

SML 040002

ECO PARKFort McMurray, AB

Pre-selling & pre-leasing industrial bays, 2,000 - 43,000

SF, on Hwy 63 N., adequate parking, T5 lighting, radiant

heating, and bay doors

145 MacMILLAN RD.Fort McMurray, AB

16,800 SF industrial building, fully leased, NOI $700,000 rising to $750,000 in 2013

GROUP OF 11 LANDFort McMurray, AB

6.75 AC, additional 7 AC adjacent site, Hwy. 63 & Gregoire Dr. exposure

7 ACRES LANDFort McMurray, AB

Ready for 11,000 SF office, 16,000 SF industrial shop

10020 MacDONALD DRIVE

Fort McMurray, ABProposed office development on 36,400 SF lot, zoned C5,

currently a movie theatre

RESIDENTIAL CONDOMINIUM SITE

Fort McMurray, AB24-unit development permit

DOWNTOWN COMMERCIALFort McMurray, AB

1+ AC, zoned C5, 14,000 SF building, 2+ AC potential

assembly size

22,000 SF INDUSTRIAL BUILDING

Fort McMurray, ABFully leased

INDUSTRIAL BAYS FOR SALE OR LEASE

Ready December 1, 2010Taiga Nova Eco Industrial Park

Hotels

Colliers International3555 Manulife Place, 10180 – 101 StreetEdmonton, AB T5J 3S4

+1 780 420 1585www.colliers.com

Fort McMurray OpportunitiesNational Insolvency Team Listings

80.62 ACRESBon Accord, AB

Subdivided & rezoned, ready for immediate residential/commercial development

59.44 ACRESParkland County, ABCountry Residential,

minutes fromEdmonton

80 ACRESParkland County, ABCountry Residential,

preliminary developmentplan available

155 ACRESParkland County, ABCountry Residentialdevelopment east of

Stony Plain

420 ACRESParkland County, AB

Next to Lake Eden Resort, good access to utilities

5,200 SF BUILDINGKavanagh, AB

Located on Highway 2A.sitauated on 1/2 Acre

Multifamily Opportunity

DAYS INNGrande Prairie, AB

90 rooms, new construction$9,200,000

160 ACRESStony Plain, AB

Area structure plan completed, engineered and ready to go,

financing available

1.75 Hwy ACRESBeaumont, AB

1.75 acres, highway exposure

Ideal hotel location

12,000 SF BUILDINGEdmonton, AB

Freestanding building close to

Downtown, Ideal Owner/User

MULTI FAMILY LANDMorinville, AB

4.47 Acres of Multi Family Land

for Sale, up to 99 units available

Judicial & Offi ce/Retail Opportunities

132,995 SF INDUSTRIAL FACILITY

Sturgeon Ind. Pk., ABSale or lease. 30,000 SF bays

available. Abundant yard.

Future CN Rail Service. Flexible

completion options.

Greater Edm. Opp.

Rod ConnopDIR +1 780 969 [email protected]

Sean DayDIR +1 780 969 [email protected]

Perry GerelukDIR +1 780 969 [email protected]


31,680 SF on 4.36 ACGrande Prairie, AB

Brand new facility, potential for, up to 14 bays, located in

Four Mile Corner BP$2,950,000

Rick Argue Mark SwaenepoelDIR +1 780 969 2997 DIR +1 780 969 [email protected] [email protected]

106 UNITS SOLDPowell River, BC

Well located, ocean views, 50% two bedrooms

62 UNITS AVAILABLEEdmonton, AB

Extremely large units, all 2 and

3 bedrooms have 1.5 baths,

above grade

38 UNITS SOLDFox Creek, AB

Twin buildings, great upside,

assumable CMHC mortgage

22 UNITS PRICE REDUCEDEdmonton, AB

South side location, new

windows, new boilers,

substantially renovated

21 UNITS SOLDEdmonton, AB

NAIT area, estate sale, $72,143 per door

15 UNITS AVAILABLEEdmonton, AB

West end location, one block

away from approved LRT route,

6 - 3 bedroom suites

11 UNITS COMING SOONEdmonton, AB

Central location, all new windows,

new roof, one block from the new

LRT stop

Amit GroverDIR +1 780 969 [email protected]\edmontonapartments

Jandip DeolDIR +1 780 969 [email protected]

FOLDING MOUNTAIN RESORT

Near Jasper National ParkMotel, cabin, RV park,

campground, excess development

land, recently renovated

Steven PearsonDIR +1 780 969 [email protected]

Jeff GrobmanDIR +1 780 969 3031jeff [email protected]

www.scrcommercialrealty.com Office • 780.417.5540 (Sherwood Park)

Edmonton Area - For Sale• Sherwood Park - 7.94 Acres (next to Costco) - $635,000 / acre

• Drayton Valley - 52 Room Motel (new 2005) - $3,300,000

• Sherwood Park - 19.57 Acres Zoned C5 - $600,000 / acre

• Sherwood Park - 3.9 Acres (adjacent to Ford site) - $637,000 / acre

• Mini Storage Investment - Located on 5.89 acres - $498,000

• Edmonton - 1,355 sq. ft. Industrial Condo - $350,000

• Regional Shopping Centre - Fully Leased - $6.55 Million - 8% Cap

• West Edmonton Industrial Warehouse/Office - 14,319 sq. ft. - $1,500,000

INDUSTRIAL BAYSFOR SALE/LEASE

Call Mike George:403-396-0026 orBill Schoemaker:

403-391-2344 www.property-solutions.ca

www.MotelHotelSale.com

Specializing in Motels & Hotels for Buyers and Sellers!!!

Sutton Group - West Coast Realty #102 - 403 North Road Coquitlam BC V3K 3V9

Martin Park T: 778-899-0201

INVESTOR READY!

780.841.1496 [email protected]

Private Investor looking to purchase Light Industrial / Commercial Properties or Buildings with Tenants in place.

Will consider any and all conditions.


INVESTMENT SALES

SHERWOOD PARK LAND - $26,000,000• 150 acre site along Broadmoor Blvd.• Area Structure Plan approved for Commercial

and IndustrialCONTACT IAN NEWMAN

OR MIKE PARKER

FORMER WAL-MART - MEDICINE HAT• High profile redevelopment opportunity• 12.95 acres / 100,287 s.f. building• $8,950,000CONTACT HOWARD McCANN

OR MARK McCANN

APARTMENT OPPORTUNITIES12 UNITS: All 1 bdms; Oliver area; built in 1958

14 UNITS: Twelve 2-bdms, northeast; new roof and windows

45 UNITS: All 1-bdms, built in 1981; northeast; new roof

MULTI-FAMILY LAND

OPPORTUNITIES• 1.33 acres high density multi-family land in

Wetaskiwin; can build a 40 unit building; $435,000

• 1.823 acres high density multi-family land in Wetaskiwin; can build a 90 unit building plus underground parking; $675,000

• 3.83 acres multi-family prime dev. land in Windermere, SW Edmonton

Apartment product is in demand! Please call for our opinion of value of your building!

CHRISTOPHER KAMPHIUSor RAPHAEL YAU

[email protected]

DEVELOPMENT OPPORTUNITIES+/- 3.84 ACRES: in SW Edmonton, Zoned IB (Industrial Business) ............................. $3,500,000

+/- 1.85 ACRES: in NE Edmonton on 50th Street ............................................. $2,250,000

+/- 13,068 SQ. FT. high density multi-family site ...................................................................... $850,000

+/- 0.31 ACRES: high visibilty location on 111 Avenue ....................................................... $610,000

CONTACT JEFF MCCAMMONOR DOUG BAUER

DUGGAN MALL - CAMROSE• ±65,136 sq. ft. separately titled dept. store anchoring a major

enclosed shopping centre; asking $4 Million ($61.40/sq. ft.)

CONTACT JEFF McCAMMON OR DOUG BAUER

SOLD!KENSINGTON CENTRE

• ±88,834 sf well established fully leased centre in the heart of the Kensington neighbourhood anchored by Giant Tiger

CONTACT DOUG FOGG OR DAVID COONEY

DEVELOPMENT LAND RIMBEY, ALBERTA

• 20.64 acres development land• Residential & Highway commercial

CONTACT JEFF McCAMMON OR RAPHAEL YAU

DOWNTOWN EDMONTON DEVELOPMENT LAND

• 37,500 square feet• Significant parking and signage income• Zoned HA - Heritage Area

CONTACT DOUG RAE

SPRUCE GROVE DEVELOPMENT LAND• Adjacent to Superstore and Home Depot• Parcels from 1 - 3.75 acres• Great owner/user land

CONTACT DOUG FOGG OR MARK MCCANN

MULHURST BAY CROSSING DEVELOPMENT LAND

• 132.4 acres on Pigeon Lake• Area Structure Plan approved• 207 dwelling units• 200 site R/V seasonal park• 10.28 acres commercial development site


14,707 SQ. FT. SHOWCASE WAREHOUSE

• Argyll Road / Sherwood Park Freeway• Clear span warehouse; dock & grade loading• $2,950,000 BRING OFFERS!


DOWNTOWN DEVELOPMENT LAND• +/- 16,166 square feet• Located within The Quarters downtown redevelopment area

CONTACT IAN NEWMAN OR JEFF McCAMMON

WINTERBURN INDUSTRIAL PARK• 8,000 sq. ft. building on 8.23 acres• New building constructed in 2008• $336,783/annum net income• $3,950,000

CONTACT CHRIS SIEBEN OR ANDY [email protected]

www.cwedm.com

CUSHMAN & WAKEFIELD EDMONTON2300 Sunlife Building, 10123 - 99 Street, Edmonton, AB T5J 3H1

[email protected]

FORT MCMURRAY

CONTACT DOUG RAE OR BRETT KILLIPS

• Morrison Centre• 52,437 sq. ft. office building &

35,555 sq. ft. development land

• Former Fort Theatre• 36,400 sq. ft. site which includes a

14,500 sq. ft. building

City of WetaskiwinEconomic DevelopmentP.O. Box 6210Wetaskiwin, Alberta T9A 2E9 www.wetaskiwin.ca

• Commercial & Industrial Development Opportunities• Single Family Homes & New Apartments Required• 35 minutes to Edmonton and 60 Minutes to Red Deer

• Retail & Hotel Development Opportunities• SKYPORT at Wetaskiwin Airport Sites Available • 44,000 loyal shoppers in immediate trading area

For Details Contact:RONALD HOLLAND (780) 361-4404Toll Free: 1-800-989-6899 Edm Dir: (780) [email protected]


Edmonton up, Calgary downBuilding activity in Alberta’s two largest

urban centres went in opposite direc-tions in 2010, with Edmonton building permit values increasing over the previous years and Calgary building permit values falling.

Edmonton permit values rose almost 11 per cent in 2010 to reach $2.73 billion, up rough-ly $270 million from 2009 on the strength of more residential construction.

Calgary, on the other hand, saw building permit values fall in 2010 by about 20 per cent, from $3.65 billion in 2009 to $2.92 bil-lion in 2010.

Still, Calgary officials aren’t exactly pushing the panic button.

“Values are down, but $2.92 billion is still a healthy level of activity. To put it in perspec-tive, consider that the average value between 2001 and 2005 – the period leading up to the record years – was $2.51 billion,” said David Watson, general manager of planning, development and assessment for the City of Calgary.

Of Calgary’s total $2.92 billion in permit values for 2010, residential values were up 18 per cent year-over-year ($1.7 billion versus $1.44 billion in 2009) while non-residential values were down 45 per cent ($1.22 billion versus $2.21 billion in 2009).

“Essentially what we’ve seen year-over-year is a reduction in stimulus spending,” said Watson. “This is reflected most notably in the institutional sector with new projects down 83 per cent to $152 million from $901 million in 2009.”

In Edmonton, residential permit totals were also up over 2009, jumping by about $450 mil-lion, or by over 34 per cent, to $1.76 billion.

While Edmonton’s permit values predictably trailed Calgary’s at the end of the year, the capi-tal city actually ran even with southern Alberta’s Prairie metropolis at times during 2010.

Edmonton officials back Katz planBuilding activity in downtown Edmonton

could heat up significantly in 2012 and beyond, depending on the outcome of a January 18 public hearing and whether city council backs what city officials are recom-mending.

Edmonton bureaucrats have completed their review of The Katz Group’s application to rezone lands for a downtown arena and entertainment district, and are generally sup-portive of the proposal.

“The recommendation for approval is strictly for rezoning the lands north of 104th Avenue, between 101st and 104th Streets,” said Gary Klassen, general manager of the city’s planning and development department.

“This is not about the approval of a new downtown arena,” emphasizes Klassen. “This is strictly about the rezoning of those lands for use as an arena and entertainment district in the future. The actual development and financing of a new arena are separate issues that, if approved, would be covered under other potential agreements with the city.”

The Katz Group, owner of the Edmonton Oilers, submitted the rezoning application in April 2010.

Permits slowing down in Red DeerThe principal city between Calgary and

Edmonton recorded less-than-stellar building permit totals for 2010.

Red Deer recorded $118.9 million in new permits for 2010, a decline of 15.6 per cent from the previous year, and the lowest total for the last five years.

Red Deer officials expect 2011 to show greater stability. They also note 2010 pro-duced a fair amount of activity, if not as much expenditure.

“Although 2010 showed a decrease in build-ing permit values, it remained a busy year

The Gas City is a step closer to being better known as the

Windy City.The City of Medicine Hat received

approval from the province’s energy regulator in late 2010 to construct a wind farm on its northeast edge.

With the approval by the Alberta Utilities Commission (AUC), Medicine Hat city council must now decide whether to move forward with the wind farm, which would carry an approximate cost of $25 million to the city.

The wind farm would be a visible change in a municipality that long used abundant natural-gas wealth to help fuel economic development.

The project consists of four two-megawatt wind turbines, which would generate enough electricity for about 3,000 Medicine Hat residences. It would be located on the east side of Box Springs Road near the city’s northern boundary.

“This is the next step in what has been an exhaustive process and now it’s up to council to decide whether or not it’s in the city’s best interest to proceed,” said Russell Smith, the city’s manager of energy sustainability.

If city council approves the project, the target date for the erection of the wind farm would be late 2012 or early 2013.

There are currently over 500 megawatts of wind power on the Alberta grid, enough power to supply four cities the size of Medicine Hat. In the long term, the AUC expects to see a significant increase in the amount of wind power currently connected to the Alberta electric system.

Wind turbines may become a common site near Medicine Hat.

Phot

o: A

udub

on S

ocie

ty

within the inspections and licensing depart-ment as we dealt with an increased number of development permits related to secondary suites and a number of garage and deck per-mits,” said Joyce Boon, co-manager of Red Deer’s inspections and licensing department.

Builders brace for battle in CalgarySuburban home developers in Alberta’s

largest city are looking at a year with a lot of questions ahead.

While Canada Mortgage and Housing Corp. is predicting Calgary housing starts will decline very slightly from around 9,100 in 2010 to 8,900 in 2011 (still way up from

roughly 6,000 in 2009), some Calgary media outlets are predicting friction between the city’s new mayor and home builders, because Mayor Naheed Nenshi argues that the devel-opment industry must pay more of the costs of growth in the sprawling city.

Noted the Calgary Herald in early January on the topic of development levies: “With a renegotiated suburban developers’ agree-ment close to arriving at council, the debate between making growth pay for itself and preserving suburban houses’ affordability is about to explode. Nenshi hasn’t let up in his comments since his election, arguing Calgarians have been subsidizing the low price of suburban homes. Several colleagues back his push for fiscal sustainability, but others will be wary of punishing [home builders].”◆

– Compiled by Dave Husdal

Pam Gill(780) 455-4088

www.apartmentsinedmonton.com

sutton central commercial real estateAN INDEPENDENT MEMBER BROKER

For full Proformas, Call or [email protected]

PH: (780) 455-4088 Fax: (780) 455-4048 www.apartmentsinedmonton.com

Sutton Central Commercial

EDMONTONAPARTMENT PROPERTIES

6 SUITES, Cromdale ..................................................$575,0008 SUITES, Downtown ................................................$584,0009 SUITES, Inglewood .................................................$850,000 11 SUITES, NAIT .....................................................$1,067,000 12 SUITES, Downtown ..............................................$876,000 15 SUITES, NAIT .....................................................$1,575,00015 SUITES, Downtown ...........................................$1,425,00020 SUITES Cromdale ..............................................$1,960,00022 SUITES, Downtown ...........................................$2,420,00030 SUITES, Westend ..............................................$2,900,000NEWER WAREHOUSE, 1455 sq. ft. ............................$369,000

• HEAVY INDUSTRIAL ZONING, FULLY SERVICED allowing for a wide range of uses

•Moments north of the city of Red Deer•Situated on the east side of Highway 2A north of Secondary Highway 597, - the main route to Joffre• Easy access via Highway 2, Highway 2A or Highway 597• Turn key design build or build-to-suit packages available• Rare opportunity to own stripped and graded lots from 2.20 acres to 40 ac.

PLEASE CONTACT: BLACKFALDS INDUSTRIAL PARK INC.

FOR FURTHER DETAILS

403-701-4273

industrial lotsfor sale or lease

minutes north or red deer, ab

$220k - $250kper acre

Want to sell your multi-familyproperty in

Edmonton quickly and easily?

Serious, qualified investor wants to buy a 6-15 unit apartment

building in Edmonton in a middle of the road area. No “tough”

areas.

Please email [email protected]


Each office is independently owned and operated.

Each office is independently owned and operated.

LAND & BUILDING ONLY

GREAT LOCATION/REVENUE

1.1 ACRE PAVED

LOT. 16,800 SQ.FT.

INCLUDING 2,000

SQ.FT. MEZ/OFFICE.

$1,175,000

REVENUE OPPORTUNITIES

4-PLEX IN COLD LAKEPRICE $525,000 FULLY OCCUPIED

Larry Melanchuk, Associate Broker Cell: 780.826.0100 www.coldlake.info

TF: 1.800.707.8374 A Division of Cold Lake 2000 Realty. Independantly owned & operated.

RE/MAXCold Lake

2000

DEVELOPMENT OPPORTUNITIESMULTI FAMILY DEVELOPMENT PROPERTY

$299,000$695,000

4-PLEX FULLY OCCUPIED

PRICE $519,000

Wayne Moen at RE/MAX River City (780) 439-7000 • [email protected] • www.waynemoen.com

EDMONTON ALBERTA

3910-82 Avenue, LeducTwo separate buildings on 4.5 acres in Leduc Industrial Park sold together or separately. Each building in new and vacant with 8 separate bays each with individual condo title. Six units 3900 sq.ft., 2 end units 3250 sq.ft. Grade loading 14’ x 16’ doors. Paved front and back with heavy truck access. Metal clad building. Pre engineered building. Provision for mezzanine. $8,400,000

2 COMMERCIAL CONDO COMPLEXES FOR SALE

WAREHOUSE CONDOSFOR SALE

14641-119 Avenue, EdmontonNew condo warehouse – The Wave on 119th Avenue. 5 Bays sold as a package 14641, 14645, 14649, 14653, and 14657 119 Avenue, 8505 sq.ft. on main level, mezzanine, zoned IM, on 0.41 acres of land. $1,490,000

INVESTMENTS CALGARY AREA

RE/MAX ACA REALTY

(403) [email protected] Realty

Trailer Park

AIRDRIE

SOLD CROSSFIELD

2500 sq. ft.

137 acres

141 acres

132 acres

279 acres

¾ acre

137 acres

East Balzac

BEISEKER

320 acres

Goalie Equipment & Development

SOLD 809 sq. ft.

For more information on these and other properties

DON SACKETTcall

JERRY RACZKOWSKI780-932-2121 e-mail: [email protected]/MAX Real Estate Commercial Division

12,000 SQ.FT. WAREHOUSE

6 bays @ 2,000sq.ft.$172,000 Triple Net

FURNACE CLEANING BUSINESS with 7000 clients list.

Plus 4 vacant lots very profi table businessPackage deal or building’s only

Land, building and house with Licensed Restaurant and mini Golf Course 6400 sq ft

40 ACRE LAKE FRONT40 acres lakefront with grovel zoned Country Residential

www.AlbertaInvestor.com

BED AND BREAKFAST VALLEYVIEW

12,500 SQ.FT. INDUSTRIAL BUILDING

2x 18 feet overhead doors with mezzanine

5000 SQ FT WAREHOUSE

Only 3 years old Fully leased until 2015 $72,000 Triple Net

6,000 SQ.FT. RETAIL/OFFICE BUILDING

Equestrian Operation40 acres - Edmonton, AB Area

Large indoor arena with 30 regular plus 5 oversize stalls. Indoor lunging area and outdoor arena and numerous pad-docks. Large home with 3 car garage. 2 bedroom mobile home is ideal for staff or added revenue. Turn key operation. Full with waiting list. Buyer would have instant cash flow.

JOE & MATT GAGLIONERE/MAX Real Estate

780-488-4000 or [email protected] www.mattgaglione.com

REACH QUALIFIED BUYERS FOR YOUR LISTINGS

call Gary Takahashitoll-free: 1-800-661-6988direct: (604) 608-5111 or fax: (604) 669-2154

[email protected]

Attention

Agents:


160 Acre Subdivision For Sale• SELLING UNDER APPRAISED VALUE• 10 min from the "2011 Boom City" of Grande Prairie, AB• Serviced Residential and Commercial Lots• New school in subdivision (K - 12)• Vendor fi nancing possible• Partnership on development possible with qualifi ed investor/

developerCONTACT DEVELOPER DIRECT:

780.396.9487

Commercial,Industrial & ResidentialFinancing

P (403) 290-1990F (403) [email protected]

Obtaining Mortgages and Loans can be made Easy &

Simple!

Contact:Frank Hickey

Visit www.advantagecommercial.ca

or call 403-346-6655

CENTRAL ALBERTA

Businesses, Investments, Sales

and Lease Information

MOTELS & HOTELS≥ WAINWRIGHT Like New 60 unit motel - excellent

clientele and good occupancy, Asking $5.5M.≥ PROVOST Brand new 44 unit motel. Asking $4.5M. (These motels can be bought as a unit or separately - same owner.≥ CAMROSE 40 unit motel showing Good revenue. Asking $2.9M.≥ CAMROSE 20 unit motel, (nice Ma & Pa operation) upgraded and very clean, Asking $1.2M.≥ HARDISTY New 44 unit Motel to open in early 2011. Phone for details.≥ NAMPA, ALBERTA in busy boom town, 16 unit motel, 100 seat lounge, VLTs, liquor store and restaurant. PRICE REDUCED TO $990,000!

≥ CAMROSE ALBERTA 68 room, full services Hotel. REDUCED - NOW $5M.

≥ FULL SERVICES 63 Unit Motel with Restaurant, Pub, Liquor Store. Shows excellent Rev. Ask $7.7M

OTHER INVESTMENTS≥ DAYSLAND Convenience store and Gas Bar.,

Mechanical shop, all located on a 5 acre parcel with residence. Shows good revenue. Asking $575,000.

≥ ROUND HILL ALBERTA Fully renovated and expectionally clean hotel with tavern, 8 rooms, pool table, Lg TV screen, kitchen facilities. Great Ma and Pa operation. Asking $550,000.

email:[email protected]

FOR MORE INFORMATION CALLOREST: 780-679-8353 FAX: 780-672-1897

CAMROSE, ALBERTA

ALBERTA IS AGAIN MOVING!

We Want Your Apartment Building! Tired of tenant issues, upkeep expenses and eroding equity?

Aggressive mid-market apartment building consolidator is seeking additional assets in primary centers in Western Canada.

Convert your equity to a secure interest-bearing instrument. We assume your debt!

Call 403-618-7486 or email: [email protected]

PAGE REGANLand Development SALES

RE/MAX Real Estate 780-488-4000

ROB REGAN 780-490-9324

[email protected]

BRIAN PAGE [email protected]

SOLDLot 21

AVAILABLE

Block 2 lots 5 & 28

Block 3 lots 2, 3, 4, 5, 6

Block 4 lots 1, 4, 5, 9, 10,

13, 14,15, 16, 18,

19, 20, 22, 23

EdmontonWell maintained 15 unit apartment building in great location with many interior upgrades plus new SBS membrane roof. Large suites, great mix, below 1% vacancy, always full with excellent on-site manager. Strong cash flows with existing CMHC Financing. Asking Price $1.625 million at 7.0% CAP Rate.

AthabascaWell maintained 23 unit apartment near river and down town in the vibrant and growing community of Athabasca. Many upgrades, excellent on-site manager with below 1% vacancy for the last 4 years. Large suites, great mix. Strong cash flows – cash on cash return of 16.7% with existing CMHC financing. Asking Price $1.75 million at 9.0% CAP Rate.

Please call 1-780-913-0563Call CARL STEPP cell: 403-358-9300

www.sylvanlakehouseguy.com Lakefront Property at Unbeatable Prices

RE/MAX real estate central alberta

INVEST IN SYLVAN LAKE Lots of great Opportunities

Sylvan Lake – the shortest distance between paradise and the place you call home

32 acres$1,800,000

152 acres$2,999,000

Garage Storage Bays$115,000 www.myspacegarage.ca

Now's the time to buy lakefront @ Sylvan Lake,

B26 Alberta/Saskatchewan www.westerninvestor.com FEBRUARY 2011 WESTERN INVESTOR

with large conference Facilities among many other outstanding features, superb location with excellent exposure and very high vehicular traffic, good operational performances that includes significant retail revenue, very good potential up-side. Asking

featuring an excellent room/suite mix, plus some unique outstanding features that will undoubtedly enhance its performance going forward; very good financing is in place, the location is great, the up-side potential is very good. Asking

in superb condition, continuously operates at a very high occupancy level that yields excellent revenues, immediate possession, an excellent buy at

well located with highway exposure in a very diverse economic area, attested to by its continually strong revenue performances, further, it currently has exceptionally good mortgage financing that may be assumed. The up-side potential of an investment is this Hotel is very good. Asking

in a very prime location, featuring excellent amenities including indoor swimming pool, it is relatively new, is currently in excellent condition and has no differed maintenance, enjoys excellent occupancy and ADR. Asking

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 revenue, plus substantial up-side potential. Asking

featuring a very high number of suites in its room mix, fitness centre, indoor Swimming pool and whirlpools are a few of its many amenities, its superb location is attested to by its continuous excellent revenue performances; the condition of the Hotel is very good. There is no differed maintenance. Asking

CURRENT OFFERINGS

Lan Acquisition an Servicing

Interim/Constructio Financing

Take-ou and Ter Financing

Leaders in Real Estate Lending

www.carevest.com

“Development FinancingSpecialists”

Victoria 250.383.6761

Calgary 403.509.0115

Vancouver 604.632.9919

Mississauga 905.848.7700

· 2 Storey commercial building, 16th Avenue, North Calgary - $995,000.00

· 33 unit apartment building condo title - $3,999,000.00· Profitable European Deli & Bakery – Calgary - $279,000.00· Middle-Eastern restaurant & grocery – land & building, Calgary - $499,000.00

· Beltline character office & retail space for lease, Calgary – Reasonable rates

· 80 acre Springbank subdivision - $4,000,000· 0.82 acre Highway commercial - $500,000 development proforma available, Sicamous, BC

· 5625 sq ft Industrial Bldg on 4 acres – Langdon, AB - $1,500,000

Bus: (403) 240-4000www.toolepeet.com

Mt. Sentinel Realty Ltd. W. Tymofievich (Water T.)928-726-9638 [email protected]

Asking Price: $1.7 Million (Previously at $1.8 Million)

100+ SiteIn booming community of Swift Current, showing a net return in excess of 9.5 %+. Appraisal & Phase 1 completed in December, 2010. All City services.

Highway frontage of approximately 850 lineal ft. toTrans Canada Highway and directly across from new mall & casino.

MOBILE HOME & R.V. PARK (Collapsed Sale – Back on Market)

For further info contact: Lorne Ryz 1-888-229-0007

or 403-862-6465 c • 403-775-4343 [email protected]

Bridge FinancingShort Term Financing

Private Lender 1st & 2nd MortgagesCompetitive interest rates

Fast approvalReferrals welcome!

VIS

IT O

UR

WEB

SIT

E AT

: ww

w.c

alga

ryla

nd.n

et

EAST CALGARY - 17TH AVE SE 160 Acres near Stoney Trail

$23.2 Million EAST CALGARY - 84 St. NE 160 Acres near Stoney Trail

$32 Million EAST CALGARY - 17 Ave SE

13.52 Acres Stoney Trail Frontage$6.08 Million

EAST CALGARY - 17 Ave SE98 Acres near Stoney Trail

$15.6 MillionEAST CALGARY

COUNTRY HILLS BLVD66 Acres Stoney Trail Frontage

$6 MillionCHESTERMERE- SIERRA VISTA

Single & Multi Family, Retail, Golf Course, Area Structure Plan.

5-7 Units Per Acre 53 Acres - $7.95 Million88 Acres - $13.2 Million140 Acres - $21 Million160 Acres - $24 Million

KEVIN MOORE(403) 617-2846

RY - 84 St. NE160 Acres near Stoney Trail

$32 Mi

ICI OPPORTUNITIESEAST CENTRAL AB

3 BAY TRUCK WASH - Convenience Store, Gas/Propane, only 3 years old, finances available.

FA MILY RESTAURANT - Owners retiring, will consider lease or sale of building and business. Family dining with proven financial record available to qualified buyers

LI GHT INDUSTRIAL SHOP - 6,300 sq. ft., new in 2010, built for sale or lease, adjacent to new tank fab plant in Vermilion, AB

NORTHERN LIGHTS REALTY (2000) LTD5008 - 49th Ave. Vermilion, AB

1-866-262-1649Email: [email protected]

600 GORGEOUS ACRES IN LAC STE ANNE COUNTY, AB

LAND ASSEMBLY OPPORTUNITY

WITH EXCELLENT POTENTIAL

For details please call 604-220-7696

Ed Bobiash Farm & Acreage Specialist

306-222-7770 [email protected] www.SaskLand4Sale.com

RE/MAX Saskatoon

Bradwell Grain land - very good production, 630 acres in a block w/treated waterline curb stop, currently rented for 2011 crop year. $599,900Bradwell Hay Land/Acreage #2 Frontage South East of Saskatoon $89,900Mathers Mixed Farm Pasture/Hay/Forest/Recreational - with bungalow, 2 barns, machine shed and greenhouse. NW of Shellbrook 477 acres $289,900Plunkett Farm Site power, workshop. Hwy #16 at Plunkett. 156 acres $89,900508 1st Street - Well maintained 3 bedroom 1064 sq ft mobile home on owned 50x130 rectangular lot. Mature yard and future building site. Single Detached Garage has own power box, electric heat. $59,900202 3rd Ave West - Unique Log Home on large lot backing golf course $449,900

Other land development opportunites pending. Call today. 306-222-7770

Sterling Land = 70 +/- acres East of Saskatoon, bordering future development, rolling hills with natural bush $889,900

Blackstrap Lakefront - NE edge of Blackstrap Lake $1,475,000

Tamke Land = 160 acres on blacktop South of Saskatoon $559,000. Other 160 acre pkgs priced @ $299,900 and $349,900

Great Riverview Property 110.43 acres overlooking North Saskatoon River. $179,900

Hill Acreage Opportunity on 80 acres, East of Saskatoon off Hwy # 5 $109,900

ACREAGE DEVELOPMENT POTENTIAL

GRAIN LAND INVESTMENT

OPPORTUNITIES25% DOWN BALANCE MORTGAGE (OAC)

Call today for your opportunity

Wakaw Gravel Land - 160 acres $350,000

GRAVEL DEPOSIT INVESTMENT LAND

View these MLS® listings on my website

WESTERN INVESTOR FEBRUARY 2011 www.westerninvestor.com Saskatchewan B27

ICR Commercial Real Estate has co-brokered and enjoys working relationships with many national and international clients and brokers.

If you require representation in Saskatchewan, ICR is a full-service Commercial Real Estate firm who provides brokers and their clients the highest quality representation in the Saskatchewan market.

3911 MILLAR AVENUE FUTURE HOME OF ACKLANDS GRAINGER, 12 ACRES

300 CONFEDERATION DRIVE CANADIAN TIRE, SPRING 2011

130,000 SQ. FT.

2603 STAR LITE STREET, REGINASTARLITE CENTRE

$6.5 MILLION

100 – 261 1st Avenue NorthSaskatoon, SK S7K 1X2Phone: (306) 664-6116Fax: (306) 664-1940

840 48th Street EastSaskatoon, SK S7K 3Y4Phone: (306) 933-2929Fax: (306) 931-0882

WWW.ICRSASKATOON.COM

SASKATOON SQUARE410 22ND STREET EAST, SASKATOON, SK

$50 MILLIONcooperating

withcooperating

withcooperating

with

cooperating with

cooperating with

cooperating with

2828 IDYLWYLD DRIVE NORTH

$9.75 MILLION

6 – 8, 3603 MILLAR AVE MATRIX BUSINESS PARK

219 ROBIN CRESCENT4015 MILLAR AVENUE

3710 MILLAR AVENUE 130 3RD AVENUE SOUTH, BHP BILLITON PLACE

323 ROBIN WAY

515 NELSON ROAD

$13.6 MILLION

286 & 261 VENTURE CRESCENT

$8 MILLION

415 CIRCLE DRIVE EAST

$3.4 MILLION

SOLD

!

LEASED!

LEASED!

LEASED!

LEASED!

LEASED!

LEASED!

LEASED!

LEASED!

SOLD

!SO

LD!

SOLD

!

SOLD

!

SOLD

!

SOLD

!

cooperating with

B28 Saskatchewan www.westerninvestor.com FEBRUARY 2011 WESTERN INVESTOR

SASKATOONAPARTMENTS

Ajit Matharu • 306-581-3130Email: [email protected]

Charmaine Luscombe • 306-535-3948Email: [email protected]

HOMELIFE CRAWFORD REALTYServing Regina for Over 25 Years!

COMING SOON! •24 UNIT MOTEL - SK w/ INTERIOR HALLWAYS •NEAR NATIONAL PARK - HOTEL, OFFSALE, RESTAURANT, POOL, - OWNERS RETIRING! •ASKING $750,00080 + APARTMENT COMPLEX - 8% CAP CALL FOR DETAILS!2 BUILDINGS SIDE BY SIDE - Regina, SK (1) 1757 Halifax - $225,000, Condo Sale (2) 1759 Halifax - 5550 sq ft - $439,000FORT QU'APPELLE, SK - 120 & 102 Broadway Street. Buy as a package. Great location in town! $165,000 and $275,000 respectively.240 FRONT FEET DEWDNEY AVENUE - Was a Car Lot! Asking $590,000 - Adjacent Storage Business - Great expansion possibilities! CONDITIONAL SALE50 UNITS - in Regina. Apartments. Conditional Sale!24 UNIT APARTMENT BLOCKGRAVELBOURG - 9 room Bed & Breakfast. - REDUCED - $199,900. On 2.39 acres24 UNIT APT CONDO - Titled - Major renovation done - Moose Jaw, SK. Condo title. Asking $2.5 Million5.5 ACRE DEVELOPMENT SITE - on #1 Highway - East side of Regina. Ideal development for hotel, motel, storage business. Asking $3.6 MillionHOTEL with great upswing potential in Manitoba. Don't miss! Full service. 62 Rooms, Pool, 30 VLT's + Free Standing Nightclub - 500 seat capacity w/Beer Vendor store. Asking $3.2 Million. Net Income - $450,000!4 HOTELS - Franchised Alberta - Great Locations! Total 374 rooms, confidentiality agreement and proof of buyers financial capabilitiesAPPROX. 28,000 SQ FT - 3 story concrete building, Elevator, Multi Tenants, on approx., 40,000 sq ft lot - Asking $2.9 MillionWANTED: Apartments Strip Malls, Hotels/Motels ALL LOCATIONS

PRAIRIE DEALS

• 36,353 SF industrial manufacturing building

• 4.66-acre site

• 6,600 SF office and 11,440 SF Cover-All

• List Price: $5,360,000 incl. equip. or $4,300,000 excl. equip. MLS®

240-103RD STREET EAST • 47,850 SF development site with three (3) bldgs.

• 1,960 SF retail, 720 SF office and 5,470 SF car wash with eleven (11) car wash bays

• List Price: $2,500,000 MLS®

1202-1204 EMERSON AVENUE

FOR SALE FOR SALE

Ken Suchan* / 306 221 1825 / [email protected]

Colliers McClocklin Real Estate Corp. / 306 664 4433 / www.colliers.com/saskatoon

CIR Commercial Realty Inc. / 306 789 8300 / www.colliers.com/regina

*Ken Suchan is a Licensed Broker with Ken Suchan Realty Inc. and has a contractual relationship with Colliers McClocklin Real Estate Kevin Johnson / 306 281 9929 / [email protected]


SASKATCHEWAN

Phone: 306-783-1777Four Seasons Realty Ltd

LICENSED FAMILY RESTAURANT - $165,000Includes Land, Building & Equip.

Search on for skilled workersSaskatchewan has the lowest unemploy-

ment rate in Canada, at 4.9 per cent, which has sparked a campaign to lure more skilled workers.

The Saskatchewan Chamber of Commerce has launched a Labour Market Task Force to help businesses recruit skilled workers to a provincial economy that is said to be the fast-est growing in the country.

Chamber CEO Steve McLellan said the task force will be “quarterbacked” by the chamber, and is expected to involve industry groups, business, labour, post-secondary and govern-ment representatives looking at ways to deal with the current skills shortage.

Various sectors, including mining, are already tackling the skilled-worker short-age, as is the province through the Ministry of Advanced Education, Employment and Immigration, McLellan said.

Enterprise Saskatchewan, the province’s economic development agency, was also tasked with recruiting employees.

A looming business succession issue exists as well, with some business owners looking to retire, McLellan said, adding that some opera-tions have shut down because the owners can’t connect with other businesspeople who are willing to take over.

“So how can we help encourage whatever is necessary to get younger, or other, busi-nesspeople into that business to buy it out?” McLelllan told the Regina Leader Post.

Aussie floods raise all wheat prices Flooding in Australia has pushed wheat

prices higher, with wheat for March delivery gaining 11.25 cents to settle at US$8.055 a bushel.

Prices also surged as dry, cold weather in the U.S. and China sparked concerns about global supplies.

Canada, led by Saskatchewan, is the world’s second-largest exporter of wheat with annual exports averaging almost 14 million tonnes, although heavy rains hurt the Prairie planting season.

A November 2010 U.S. Department of Agriculture report showed at least half the U.S. winter wheat crop affected by dry weather.

The weather worries come on the heels of last year’s difficulties with the global wheat supply.

A devastating drought damaged the crop in Russia and the Black Sea region, prompting Russia to impose an export ban that remains in effect.

Realtors bullish heading into 2011A growing population and attractive

interest rates should spark more activ-ity in Saskatoon’s housing market in 2011.

That’s according to the Saskatoon Region Association of Realtors (SRAR).

The association expects the housing market to grow after a weaker year that saw the num-ber of home sales drop from 3,819 in 2009 to 3,558 in 2010 – a decline of 7 per cent.

However, the average selling price still climbed 6 per cent, to over $296,000. The average price of a detached house in December 2010 was $300,693, up 3 per cent from December 2009.

SRAR suggests the housing market is more stable now than the hyperactive scene seen in 2008, when the boom in commodity prices and real estate values was in full swing.

“All indicators point to an active 2011 housing market. Optimism begins with the many economic development projects planned not only for Saskatoon but also in many areas of the province,” SRAR states.

In-migration continues to increase with those moving to Saskatoon, from offshore and within Canada, “providing a catalyst for the housing market,” said SRAR executive officer Harry Janzen.

At 1 per cent, the apartment rental vacancy rate in Regina

is the lowest in Canada, confirms a recent annual survey by Canada Mortgage and Housing Corp. (CMHC), which notes that Estevan, Moose Jaw and Saskatoon also have very tight rental markets.

The result has been higher rents in Saskatchewan’s capital, up to an average of $881 per month for a two-bedroom suite, compared with $832 a year earlier.

Across the province, the average two-bedroom rent is now around $872 per month, CMHC reports.

The low vacancy rate has convinced the City of Regina to not approve any further conver-sions of rental apartments to condominiums, at least in the near future.

Appraisers say there is much more demand than supply for Regina apartment buildings. A report from B.R. Gaffney and Associates Ltd. says the price per suite for better rental buildings ranges from $75,000 to $90,000 with a capitalization rate of around 5 per cent. Less-than-prime buildings in less-popular locations are selling from $42,000 to $61,000 per suite, the study found.

Estevan has seen its rental vacancy rate plunge from 4.5 per cent to 1.5 per cent as a recovery in oil prices drew more workers to southern Saskatchewan, CMHC reports. Moose Jaw is notable for having the highest average rental increase in the province, posting a 14 per cent increase from a year ago.

Moose Jaw, with a 1.4 per cent vacancy rate and Saskatoon, at 2.6 per cent, are also close to the lowest vacancy rates in Canada. The Saskatoon rate is up marginally from a year earlier.

Avison Young, Regina, notes that low mortgage interest rates, available to buyers through CMHC mortgage insurance coverage, and a high level of net migration to the province make the Saskatchewan multi-family market a prime investment going into 2011.

Growth of 3.7 per cent leads nation Eight major economic forecasters are pre-

dicting that Saskatchewan will have the fastest-growing economy in Canada in 2011. Saskatchewan’s economy is expected to increase by an average of 3.7 per cent next year, well ahead of the 2.4 per cent forecast for the national average.

Enterprise Saskatchewan Minister Jeremy Harrison noted that Saskatchewan’s popula-tion hit another record high in 2010. “What

was even better news was that job [growth] continued to improve over last year and wage increases are among the best in Canada.”

Saskatchewan’s population reached 1,049,701 last year. More than 50,000 people have moved to the province since the start of 2007 – the fastest and most sustained period of population growth in decades.

The Fraser Institute recently ranked Saskatchewan second in the nation in its Canadian Investment Climate 2010 Report. “There is a new optimism that is prevalent across Saskatchewan in the last three years and it has contributed to our economic suc-cess,” Harrison said.◆

Only 1 per cent of Regina apartments are vacant, the lowest in major Canadian cities.

Phot

o: C

harle

s Ph

elps

Turn key concrete business in Kindersley, SK. Sale includes equipment, building and gravel pits. Staff will stay on and present owner/manager will stay to train.

Contact: [email protected] call 306-463-4515

Subs

cribe

www.westerninvestor.com

CALL NOW 1-800-661-6988


CARMAN & NEEPAWA, MBFOR SALE – RETAIL PORTFOLIO – 10% CAP!

INVESTOR OPPORTUNITYTwo newly built, fully tenanted retail bldgs.

10 year leases in place

National Tenant with over 250 locations

Two buildings totalling 20,080 square feet

15% ROI with existing financing

Sale Price: $2,250,000 or $112 per sq ft

Maintenance free, hassle free, sit back and collect rent!!!

Realtor cooperation – 2%

Contact: Gordon Green, Pinnacle Capital Corporation(604) 727-7095 or [email protected]

REDUCED

ATEAH REALTY LTDMELODIE ATEAH BROKER/OWNER

1-866-755-5406www.ateahrealty.com

DON'T MISS THESE MANITOBA MARVELS!

CHICKEN CHEF FRANCHISE, Thriving Turnkey Restaurant Franchise includes 5096 sq ft building, all equipment, inventory, goodwill and franchise in Pine Falls/Powerview. Seating for 64. Second half of building set up as a conference/meeting room but could be used as second restaurant. $399,900 Shanna Karle

BEAR COUNTRY COTTAGES, 7 newly constructed luxurious 2 and 3 bedroom cabins designed to pamper couples, accommodate a family of eight or small groups. Each cabin has hot tub, steam showers, home theatre system w/ surround sound, a full kitchen. Site also includes a seasonal takeout pizza restaurant, children’s playground and offi ce. One hour drive north of Winnipeg on 35 acres of private forested land. $850,000 Melodie

REALIZE YOUR DREAM OF OWNING YOUR OWN BUSINESS AND

ACHIEVING FINANCIAL FREEDOM!Sammy’s Farm Supply is more than a farmer’s

store! Westward parts, Vet Supplies, Steel, Trailer Supplies, Equine Supplies, Fencing Supplies,

Animal Nutrition, Leather Horse Tack and Equipment. Sammy’s Farm Supply is spread

over 17,000sf-They carry a very large selection of products for use at home and around the

farm. Well established Farm Supply Business with excellent fi nancials! Has been "Serving the

Parkland since 1985." MAKE THIS VIBRANT BUSINESS YOUR OWN!

$4,499,000Current management can be retained

for training

CHRIS CAREFOOTGARY SWEETMAN

204-622-7770204-638-0311

[email protected]

RE/MAX of Dauphin

20 Mountain Rd, Dauphin, Manitoba

REGIONAL ROUNDUP Brandon’s can-do attitude, economic muscle keeps it punching above its weight

Please see Outlook page B30

GEOFF KIRBYSON

WESTERN INVESTOR

omebody forgot to tell Brandonites about the recession.

Manitoba’s second-biggest city is not only well positioned for 2011, it doesn’t appear to have broken stride in the two previ-ous years either. The housing market continues to chug along, vacancy rates are rock-bottom, construction of major projects is booming and disposable income is growing by leaps and bounds.

“We never had a recession in Brandon,” said Kit Harrison, a broker for Sutton Harrison Realty.“We have steady employment and we have lots of new [home] buy-ers coming into the marketplace. People are coming back and they’re finding jobs.”

The value of a typical house in Brandon – a 1,000-square-foot, three-bedroom bungalow – rose 6.5 per cent last year to about $187,000. Even more impressively, the dollar value of homes sold in 2010 hit $230 million, an all-time high.

“Those are very healthy numbers,” Harrison said.

Brandon’s new – and first – woman mayor, Shari Decter Hirst, shares Harrison’s opti-mism and is confident the city can reach even greater highs.

Elected last fall on the back of an aggressive economic development strategy, she is out to challenge and change the status quo. First on her agenda is improving the entrepreneurial climate in the city by reducing red tape that might impede current business owners from expanding and potential entrepreneurs from getting off the sidelines.

“It should be easy to start a business here. We

need to up our game in this area,” she said.Decter Hirst said Brandon is falling short of

its economic potential because it’s not expe-riencing the kind of business expansion and recruitment that a community of nearly 50,000 – and the service centre to another 150,000 – should be having. People, for a variety of rea-sons, aren’t as willing as she’d like them to be to risk their money on a new or expanded venture.

She said a kinder, simpler regulatory envi-ronment would go a long way toward convinc-ing local residents to get off their wallets.

For example, Brandon is “extremely limited” with mixed-use zoning, she said. If a building owner has a retail store on the first floor and wants to put suites above it, the process to do so is “cumbersome.”

She is also committed to the creation of a more vibrant downtown, complete with a criti-

cal mass of people who live and work in the central business district.

“Right now we’ve got about 1,000 people who live downtown and we could easily accommodate a thousand more. We’re look-ing for a Waterfront Drive, Exchange District kind of energy,” she said, referring to a pair of increasingly vibrant areas of downtown Winnipeg.

Things had been quiet on the retail front until the mid-January announcement by U.S. giant Target that it had bought discount retailerZellers from the Hudson’s Bay Co. While one of the world’s most recognizable brands is still two years away from taking its place on Canada’s retail landscape, Harrison predicted Brandon could see “one or two” Target stores.

(LEFT) New pro-business Mayor Shari Decter Hirst: “we need to up our game.” (TOP) Brandon: Manitoba’s second-largest city ranked number 1 in Western Canada by Money Sense magazine.Ph

oto:

Cit

y of

Bra

ndon

Phot

o: B

rand

on E

cono

mic

Dev

elop

men

t

“I think [the arrival] of Target will be great,” he said.

It’s hard to argue with Brandon’s potential.It’s the only city in Canada with a population less than 50,000 that has a university, a com-munity college and an emergency service col-lege. Last year, Money Sense magazine rankedBrandon No. 7 on its list of the best Canadiancities to live in and No. 1 in Western Canada. The disposable income of its residents, one ofthe most important drivers of economic growth, rose 25.4 per cent last year, too.

The mayor isn’t content to rest on Brandon’shistory as a service centre for the agricultural sector in the southwestern part of the prov-ince. She said the future lies in the knowledgeeconomy.

“We should just be a smart city, period,” Decter Hirst said.

Not every opportunity requires a leap o ffaith, however. There is also the low-hanging fruit of the city’s population of seniors, whomake up more than one-fifth of all residents. They present a “wonderful” opportunity forproviders of geriatric services, she said.

“That could be a whole (revenue) stream for us. There are 55-year-old baby boomers out there who are looking to retire in a pretty andsafe community with lots of great restaurants,”she said.

At the other end of the demographic scale,she said she and her council are looking at thepossible role for the city’s post-secondary insti-tutions in creating clusters in sectors such as health-care training and research.

Of course, it would be unrealistic to expec tevery piece of Brandon’s economy to have emerged completely unscathed from the eco-nomic slowdown that started in the fall of 2008.Sandy Trudel, Brandon’s economic develop-ment officer, said its manufacturing sector hasyet to completely emerge from the woods but she’s “cautiously optimistic” about the future.

“We’re starting to see the businesses thatwere impacted by the recession gain a lot of

B30 Manitoba/Franchises www.westerninvestor.com FEBRUARY 2011 WESTERN INVESTOR

Franchise Opportunity: Chilliwack

Own Your Own Country

abc Country Restaurants has 40 years of family dining experience. If you like the idea of being up front in your own restaurant, backed by a strong corporate team, abc is the high profile brand for you. Our restaurants serving Country Comfort for Breakfast, Lunch, Dinner & Dessert - many with profitable meeting rooms - dot the BC and Alberta land-scape. We are looking for good franchisees and welcome your inquiry.

Call me today to own your own country!Gordon Beattie, President(604) 583-2919 local 22abc Country Restaurants Inc.15373 Fraser Hwy.Surrey, BC V3R 3P3email: [email protected]

W E A R E C O M F O R T K E E P E R S®

• Comprehensive training• Turnkey business systems• Business coaching• Full support• Marketing programs • No healthcare degree required

To learn more, call Wayne Maillet at 604-941-4361 or email: [email protected]

WWW.COMFORTKEEPERS.CAAn international network of independently owned and operated offices worldwide. ©2010 CK Franchising Inc.

Comfort Keepers® senior care franchise is a rare business opportunity. This leading national brand providing in-home senior care combines exceptional growth potential with both the financial and feel-good rewards unique to a business dedicated to caring for others.

Amazing Opportunities!

Century-21 Westman.comBrandon, MB

Direct Line: 204-729-5074 Email: [email protected]

HOTEL: 1/2 Hour from Winnipeg, friendly community, Living quarters. Price $325,000

MOTEL: 14 Rooms. Living quarters, rooms sales $175,000. Priced to Sell! $459,000

HOTEL: 1 hr from Winnipeg, 100 seat bar, living quarters, steady business. Price $275,000

RESTAURANT: Chinese Buffet and Take Out, land, building and equipment. Price $275,000

Please call:

GRANT TWEED204-761-6884

[email protected]

MARVELOUS MANITOBA!

Superb Boar Stud Farm! An immaculate building with full Lab facilities. Nothing has been spared to make this the finest facility you will find. Air conditioned barn, in floor heat in Lab & offices. Oversize lagoon plus a separate isolation barn.

Great location in MB. hog country!

Westman.com

GRAIN FARM: for the serious producer. Compact block with 3664 total acres & 2700 under tillage.

Productive Newdale Clay Loam soil with a consistent record of great yields. 3 fully service yard sites with homes. Full line of equipment included. This won't

last, Call me Now!

Royal LePageMartin-Liberty RealtyOffice: 204-725-8821

TEDTEMPLE [email protected]

NOW SELLING! MANITOBA OPPORTUNITIESVERY ATTRACTIVE BUSINESS OPPORTUNITY• Located in Riding Mountain National Park• 22 rental bungalows plus large owner’s cottage• Very well established second generation

ownerswww.thunderbirdbungalows.com

11 UNIT APARTMENT CONDO CONVERSION• All mechanical updated - renovations

completed June 2010. • High quality finish throughout, very appealing

apartments.• Condos leased - ATTRACTIVE CAP RATE

JEFFTEMPLE

[email protected]

• Great Location, Great Building!• Property for Sale or Lease• Building more than 3900 sq ft• Property is 21,850 square feet

from B29ground back. We’re starting to hear language like ‘growth’ and ‘opportunity,’ and we need to ramp up,” she said.

In the “every cloud has a silver lining” file, Trudel said local manufacturers used the down-turn to improve their efficiencies and diversify and broaden their markets.

Trudel said that Brandon’s construction industry is poised for an all-out year in 2011. Arguably the most significant project is the new downtown YMCA. The 16.5-million project will encompass 52,000 square feet and be the second-biggest in the country when it opens in the spring of 2013. It will also be a surefire boon to downtown busi-nesses, she said.

Other projects on the go include a $24 mil-lion CancerCare Manitoba facility that will enable people in the southwestern part of the province to receive radiation, chemotherapy and outpatient care without having to travel to Winnipeg, a new $13 million police station, the conversion of the old Mackenzie Seedsbuilding into nearly 100 condominiums and the redevelopment of the city’s historic CanadaPacific building into office and commercial space.

Brandon’s biggest challenge is housing, or lack thereof. With vacancy rates below 1 per

cent – tied as the lowest rate in Canada – theneed for more apartments is obvious. Once theshortfall is dealt with, Brandon Universityand Assiniboine Community College canincrease their enrolment, according to DecterHirst.

“I’m incredibly optimistic about the future.Five generations of my family call Brandon home so there isn’t anything more importantto me than making this city the best it can be. We’ve had a change in attitude. We think aboutgrowth as a good thing,” the mayor said.◆

Population 46,000-plusAverage house price $187,000Median family income $60,167Year-over-year increase in disposable income 25.4 per cent

1 ✪BRANDON

U.S.A.

MANITOBA

Winnipeg

10

Portage la Prairie

SASK

ATC

HEW

AN

10

16

16

WEST ST. PAULWinnipeg, MB80 acres, potential 195 unit

building lot. Near Shopping Mall & Hospital between Main Street &

McPhillips Street. 1000 ft northof Grassimere Road.

ASKING ONLY $2.5MCALL: 204-224-4345

May consider trade in Lower Mainland Vancouver, BC (w.h.a.)

Call David Meyer204-989-7900Cell: 204-955-0487Fax [email protected]

DEVELOPMENT OPPORTUNITY!

Located Next to NEW Motel 6!

ROYAL LEPAGEPRIME REAL ESTATE

Trans-Canada Highway Brandon, Manitoba4.9 acres on the Highway next

to motels, restaurants and new 60 room motel.

2 mil. worth of improvements, now listed for

$750,000

WESTERN INVESTOR FEBRUARY 2011 www.westerninvestor.com Franchises B31

THIS is your opportunity to partner with an accomplished team and proven midscale casual dining concept. Rockwell's has all the right ingredients for you to write your own success story.

We're looking for like minded franchises to join Rockwell's as we grow across BC, AB, SK & MB

SPORTS BAR COMPONENT

CONTACT US TODAY

[email protected]

DAN DEMERSFRANCHISE DEVELOPMENT MANAGER AB/MT

Phone: 780-569-1963 Email: [email protected]

CHRIS FALLEFRANCHISE DEVELOPMENT MANAGER BC/SK

Phone: (604) 952-0202 Email: [email protected]

Our Vision for the Future“We will be the franchise food system of choice!”

www.dairyqueen.com

FRANCHISE WITH EXPERIENCEA franchise partnership with DQ®, a Berkshire Hathaway Company, enables

you to enjoy the benefits of a well-established family of concepts such as:

Mucho Burrito rolls into Vancouver

Three years ago, Mucho Burrito began honing its plan to provide consumers

with an unmatched Mexican flavour experi-ence. Mucho Burrito recently opened its first area restaurant at Marine Way Market in Burnaby and the Ontario-based fran-chisee opened its second B.C. restaurant on Davie Street near Burrard Street in Vancouver. Mucho Burrito franchisee Joe Sangha opened the chain’s first Lower Mainland restaurant in Burnaby in March. Mucho Burrito has plans for a total of 25 locations throughout Greater Vancouver in the next five years.

“Customers want a different twist or flavour component … and Mexican food has always been under-represented in Canada,” said Alex Rechichi, co-founder and president of Mucho Burrito, noting that Mexican cuisine compris-es just 1 per cent of the food-service industry in Canada. “We look forward to bringing our upscale offering to local consumers and fur-ther positioning ourselves as the premier con-

News, views and updates on Canada’s franchise industryIce caps are not on the menu, but the cus-

tomers here don’t seem to mind. Iconic cof-fee chain Tim Horton’s has finally opened this month in Iqaluit, Nunavut, the only territory in Canada where the popular brand didn’t have any stores. At an opening ceremony, an Inuit elder lit a qulliq, or traditional oil lamp, to welcome Tim Horton’s to Nunavut’s capital city. Even the company’s slogan, “Always fresh,” has been writ-ten in Inuktitut. Translated, it reads “The coffee tastes like it was just freshly brewed.”

The price of goods is always a hot-button issue in Nunavut, where fruits and vegetables are priced notoriously high. Tims is keeping its prices reason-able: coffee prices range from $1.79 for a small to $2.39 for an extra-large coffee.

Tim Horton’s senior vice-president Nick Javor said the outlets will offer a limited line of beverages and baked goods initially to “see how the community responds,” and take it from there with sandwiches and cold drinks down the road.

Tim Horton’s has partnered with the North West Co. to open one of Canada’s northern-most franchises. North West owns the NorthMart grocery and general store, as well as two Quick Stop convenience stores in the city of about 7,000. The Tim Horton’s kiosks are based in those three locations, offering customers a basic menu of coffee, doughnuts, Timbits, muffins and cookies.

All three kiosks are self-serve stations, which company officials say will stay that way for now. Despite having to get their own coffee, Iqaluit customers are getting the same quality of Tim Horton’s coffee as the rest of Canada, Javor added.

Until now, Nunavut residents were always big shoppers at the Tims in the Ottawa International Airport. Now that Tim Horton’s has set up shop in Iqaluit, residents and visitors to the city will no longer have to bring boxes of doughnuts, Timbits and coffee with them aboard flights home.

Phot

o: T

im H

orto

n’s

Customer prepares her coffee at Tim Horton’s in Iqaluit.

cept in the Mexican category.” Since launching the brand in June 2006,

Mucho Burrito has opened 26 restau-rants throughout Canada and is targeting Vancouver as part of a national growth plan calling for 40 locations by the end of 2010 and more than 200 in the next five years.

To augment the company’s growth strat-egy, Mucho Burrito is seeking franchise owners with “a strong desire to grow an up-and-coming brand” within the food-franchise business. With a franchise fee of $20,000, the initial investment to own and oper-ate a Mucho Burrito restaurant is typically $250,000-$370,000 for a standard 1,500-square-foot to 1,800-square-foot location that accommodates 40 to 50 customers.

Franchisers eye loss of pennyCanadians agreed in a recent Angus Reid

poll that it is time to do without the penny, which has lost 95 per cent of its purchasing power since its introduction in 1908. According to the survey, 55 per cent of Canadians support dropping the one-cent coin, while 35 per cent want to keep it, and 18 per cent of Canadians responded they’d even be “happy” when it’s gone.

Mario Canseco with Angus Reid said he was most surprised with the gender split, which shows 65 per cent of men want to eliminate the penny and only 45 per cent of women are on board.

Also, younger Canadians between the ages of 18 and 34 are evenly split on the penny’s fate, whereas the older groups are increas-ingly in favour of scrapping it.

In Vancouver, a couple coffee shops have taken initiative and will not be giving pen-nies out in change, although they will still be accepting them to pay for coffee and snacks.

Their concepts are consumer friendly: round-ing up and down depending on the sale value once taxes are included. The most anyone would have to pay more for a product would be two cents, where a $1.33 coffee would cost $1.35, a $1.32 item would be rounded down to $1.30.

Altitude Research addressed many con-cerns in a market study of the implications of removing the penny, done for the Royal Canadian Mint. It appears most small retail-ers are slightly in favour of removing it, while consumers are split on the issue. Overall, small retailers are 63 per cent in favour of removing the penny, 19 per cent against. The

Bank of Canada sets the cost of creating each penny at 1.5 cents.

So what will franchises do? The first fran-chise to adopt the “pennyless” approach may set off chain reactions among competitors or may face negative political and patriotic responses from consumers, consultants say.

A careful plan of notifying customers and ensuring a fair “rounding” procedure will be essential. There may also be a negative response if a franchise decides to implement a pennyless model across its entire system. With or without early adoption, it looks like the penny won’t be around for much longer.◆

– Compiled by Kevan O’Brien

Mucho Burritto has opened its first Vancouver restaurant.

Phot

o: M

ucho

Bur

ritt

o

B32 www.westerninvestor.com FEBRUARY 2011 WESTERN INVESTOR

Western Investor February 2011 Section B

Documents

cap rate

s s u e

sf high density

serviced land

working cap

lease rate

purchase land

opportunities available