Western Investor February 2012 Section B

14 KICKING OFFRESORT CYCLE Kicking Horse Ski Resort sale may signal upturn

$ 4 . 2 9 F E B R U A R Y 2 0 1 2 V o l . 2 7 / I s s u e 2INTERIOR B.C. • ALBERTA • SASKATCHEWAN • MANITOBA SECTION

5 KAMLOOPS’ UGLY PIT SPLIT Residents square off on debate over mine jobs versus the environment

17 SHOP TILL THEY DROP Calgary mall rings up $1,000-per-square-footsales in consumer Mecca

23 GUTLESS IN A BOOMING CITYRegina is roaring but speculators are timid

.C.

hoo:

JuH

Idy

Gr

▲

Kicking Horse president Steve Paccagnan welcomes sale to Calgary’s Resorts of the Canadian Rockies

PUBLICATIONS MAIL AGREEMENT 40069240

RETURN UNDELIVERABLE CANADIAN ADDRESSES TO CIRCULATION DEPARTMENT:

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

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

Call for more information:

Estate Purchase

LIFESTYLE PROPERTIES

SPECIAL SECTION • B14

B2 Interior British Columbia www.westerninvestor.com FEBRUARY 2012 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

247 BRIDGE STREET, PRINCETON

List Price: $1,175,000BOB GAULEY

List Price: $10 M & $5.5 MERIC WEBER* / MARSHALL MCANERNEY*

DEVELOPMENT SITE - KELOWNA NORTH

List Price: $879,000

YOUTH HOSTEL

List Price: $2,690,000

ERIC WEBER* JAYSON McCARTHY

230 CARION ROAD, WINFIELD

For Sale: $1,495,000

ERIC WEBER*

391 TILLEY ROAD, WINFIELD

List Price: $599,000 (Business Only)List Price: $1,052,000 (Building Only)

364 LOUGHEED ROAD, KELOWNA


MULTI TENANT INDUSTRIAL, PENTICTON

List Price: $399,900WENDY DYCK

3151 HILL ROAD, LAKE COUNTRY


DOWNTOWN KELOWNA

JEFF HUDSON* & MARSHALL MCANERNEY* *PERSONAL REAL ESTATE CORP. www.bcip.ca

FOR SALE

JACK SHABBITS & ERIC WEBER*

TOWER RANCH GOLF RESORTMULTI FAMILY DEVELOPMENT

Reduced from $22,500,000 to $14,500,000

CHAD BIAFORE & MARSHALL MCANERNEY** PERSONAL REAL ESTATE CORP.

NEAR WILLIAMS LAKE

$ 699,000

TRANS CANADA

$ 1,100,000

REVELSTOKE !

$ 3,750,000

GRAND FORKS

$ 398,000

LIQUOR BUSINESSES

BOWRON LAKES

$ 2,200,000

RIONDEL B.C.

CRANBROOK B.C.

$ 1,275,000

NORTHWEST BC MOTELS

$ 395,000

$ 1,700,000

$ 1,500,000

MOTELS

$ 259,000

$ 319,000

$ 379,900

$ 399,000

$ 599,000

$ 988,000

$ 1,200,000

$ 1,995,000

$ 1,995,000

$ 2,675,000

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]

Jody L. Miller

[email protected] Real Estate Corporation

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

Rare, New, Fee Simple Mixed Use Building! +/- 6,581 sq. ft. – 6 strata units - 3 tenanted, residential & 3 commercial units incl. a full height basement to utilize for storage, etc. It's a BUY! Newly constructed corner fee simple mixed use building is completed, 2nd flr. 3 Residential tenanted Suites. Main flr. consists of 3 commercial strata units, +/- 3,354 sq. ft. - ideal for retail, professional or commercial use. Superior construction! Commercial bays are available for viewing at any time. Full Building: $2,000,000, Asking Commercial: $1,2000,000 plus HST MLS®

APPROXIMATELY 115.68 ACRES – LAND ASSEMBLY IN NORTH

GLENMORE/UNIVERSITY DISTRICT.

MINUTES FROM KELOWNA'S INTERNATIONAL AIRPORT.

One side abuts golf course in Quail Ridge. Gravel Pit is a permitted use!

Lot D 70.80 Acres $5,318,000Lot 1 15.63 Acres $1,315,800Lot 9 11.62 Acres $ 962,200Lot 10 9.10 Acres $ 773,500

Lot 8 8.98 Acres $ 763,300

This assembly comprises 5 lots that can be purchased individually or as a complete package. Asking: $9,132,800.00 MLS®

LOWER MISSION EXCLUSIVE OFFERING – INVESTMENT PROPERTY on Lakeshore Road. +/- 4500 sq. ft. building with 10 bedrooms, 4 ½ baths. 1.13 acres on flat site located at the corner of McClure and Lakeshore Road. Endless possibilities.Asking: $1,600,000.00 MLS®

LAKESHORE NEAR GYRO BEACHSpectacular Level Lakeshore property! Prime location. 0.4 acre offering 66 ft of waterfront. Sandy beach, licensed boat dock. 4 bdrm. 2 bath home with suite on main level.

Call Ken or Kris for Details MLS®

COURT ORDERED SALE

PRIME DEVELOPMENT SITES – WINFIELD TOWN CENTRE

FULLY SERVICED AND READY TO BUILD

Lot 1 & 2 2.93 ac. $ 3,899,000

Lot 1 1.71 ac. $ 2,500,000

Lot 2 1.22 ac. $ 1,500,000

Lot 3 .90 ac. $ 1,000,000

Lot 4 2.67 ac. $ 3,250,000

6.5 Acres Asking: $6,500,000,000 MLS®(Plus DLC – Latecomer Charges)

INDUSTRIAL ZONED I2 – 2 warehouses available for Lease. 1 - 20,000 SF, unheated, sprinklered, 20 ft ceilings, 12‘ O/H door and 1 loading dock. 2 offices, reception area & 2 washrooms. Second building +/- 7,281 SF warehouse – main flr 1,200 SF, Warehouse/shop on main +/- 6,081 SF, 20’ ceilings Heating, natural gas with 2 – 150,000 BTU unit heaters. 1,200 SF Office and mezzanine storage. Loading dock is shared. Parking accommodates 12 cars. Minutes to main Hwy and Kelowna airport. Lease Rates: $8.00 and $9.50 PSF plus Tnet + HST MLS®

LEASE OFFERINGS – KELOWNA, WEST KELOWNA AND LAKE COUNTRY

Industrial - Kelowna 7,281 - 20,000 SF Office/Warehouse

1,569 – 2,619 SF New Tilt-Up

Retail/Office - Kelowna 1,000 – 5,000 SF Pandosy Area

1,990 SF Downtown Kelowna

3,899 SF Retail/Office

Service Commercial – Kelowna 3,176 SF Commercial Mix

944 SF Office

Retail/Office - West Kelowna 1,100 – 3,300 SF Retail/Office

Retail/Pad Sites - Lake Country 2,500 – 8,000 SF Retail/Office

SUCCESSFUL FRANCHISE LOCATION AVAILABLE - PANDOSY CORRIDOR

Successful franchise location available specializing in laser hair removal. Strong brand & solid client referral base already in place. Owner/operator buyer is ideal, but it still makes great money from an investor only standpoint. Located in the forever growing Pandosy corridor. Great opportunity to buy yourself a career!

Available: $324,900 plus HST MLS®

WEST KELOWNA IS KRAFT HOCKEYVILLE!

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

FEATURES14

Sale of Kicking Horse Ski Resort may signal turnaround

5 Jobs, sure, but many worry about environmental damage

23 City is booming but speculators still expect tax breaks

Download a PDF of all our Regional Roundups online at www.westerninvestor.com

COLUMNS21 25 26 27

On the coverSteve Paccagan, president of Kicking Horse Resort that has been sold to Resorts of the Canadian Rockies.Photo: Kicking Horse Ski Resort

2–9

10–22

23–26

26-27

LIFESTYLE PROPERTIES

B4 Interior British Columbia www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

OKANAGAN – 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.

TOWN HOMES WITH STORAGE ...FOR ALL YOUR TOYS !ONLY 7 HOMES LEFT

www.cactusfl ats.caOffered at $299,000. HST INCLUDED!

CHRISTINA LAKE CAMPGROUND

Option 1

Price $1,899,000

Option 2

Price $4,199,000

Motivated Seller Asking $699,000

FIRST TIME ON THE MARKET IN OVER 20 YEARS !

BUY NOW! SEASON STARTS APRIL 1

Asking Price $1,695,000

FORECLOSURE SALE - FORMER GOLF COURSE

Asking Price $1,200,000

SOLD

YOUR CHOICE OF TWO PURCHASE OPTIONSVERNON SELF STORAGE BUSINESS OPPORTUNITY

PRIME FARM-HOLDING LAND - OSOYOOS

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

PREMIUM STORAGE YOU OWN! GARAGETOWN - VERNON Premium Storage with a difference- YOU OWN IT! - 47 fully customizable units. 20x48, 24x48 and larger w/14’ overhead doors plus a drive-through model. Ideal for RVS, boats, collectors, retail and business overflow. Level 3 acre site w/quick access to all major routes. Fully furnished Owners Lounge! Offering preconstruction incentives from $125,900 MLS®

CARWASH – WILLIAMS LAKEProfitable and well maintained! Great Family operation or for absentee owner. ½ acre lot, 3 high pressure truck and 3 medium pressure car bays, new detailing business. $949,000 MLS®

TOURIST COMMERCIAL ON OKANAGAN LAKE .23 level acre across from public beach! Older home with long term tenant. $650,000 MLS®

RETAIL/WAREHOUSE WITH SUITE 10,800 sq.ft - flexible use. High visibility on main commercial road across from Mall. Tenant would like to stay. Great holding property. $995,000 MLS®

RV SALES AND SERVICE BUSINESS.High profile location in SALMON ARM . Well established, thriving & profitable. New and used sales, servicing, rentals, counter sales. Lease available. $499,000 MLS®

SERVICE COMMERCIAL BUILDINGS50x158 yard w/lane access. Updated Building with 5 offices, workspace and storage $270,000 MLS®

Level paved .95 acre w/fenced compound. Across from major mall, few blocks from downtown core. 10,900 sq.ft. building $1,395,000 MLS®

COMMERCIAL STRATIFIED OFFICE 2000sq.ft 3-4 offices, workspace, kitchen, baths, onsite parking. $479,500 MLS®

SERVICE COMMERCIAL DEVELOPMENT SITEIdeal for end user or subdivision. Fully serviced area w/access from 2 or 3 roads. Zoning allows for 10,800 sq.ft +. Multiple uses including residential above main floor. $5,750,000 MLS®TOURIST COMMERCIAL .45 acre w/ highway visibility and easy frontage road access. Neighbourhood of car/boat dealerships and bulk service stations. Concrete 2 storey bldg w/two storefront units, mega storage/office space and residential suite.. $599,000 MLS®

INDUSTRIAL SITE! Nearly 3 level acres on frontage road with high exposure to highway. Ten minutes to city centre. Ideal for manufacturing business. Plans for building available. $888,000 MLS®

IDEAL FOR WATER BASED BUSINESS.51 level acre zoned I1 Light Industrial. 18’ x 30’ shop and 3 bdrm house. Located between downtown and yacht club/boat launch. Next to airport. Rare Find! $399,000 MLS®

KALAMALKA LAKESHORE RETREAT2.54 acres in two legal title with approx 250ft.of level, private beach. No thru road. . Gorgeous grounds Amazing home with 7 bedrooms with baths, spacious living areas and a stratified two bedroom suite . 10 mins from City and 30 mins from Kelowna international airport. One of a kind! Exceptional value! $3,900,000 MLS®

DEVELOPMENTAL LAND AND

GOLF COURSE FOR SALEIN THE BEAUTIFUL

BC INTERIOR

162 Acres 9-Hole Golf Course Club House Residence Trades Considered

BEST-WEST REALTY LTD.250.554.4511

Dwight Vos250.371.7992

Tracy Mackenzie250.318.2938

HUGE PRICE

REDUCTIONOsoyoos View Land 3 acres. Far below appraised value.

If no subjects offer needing no financing we will take as low as

$180,000. Clear title. contact PETE

[email protected] or (250) 497 5689

MERRITTWagon West Travel Centre*15,800 sq/ft building*4.522 acres*Gas bar, 24 hr convenience store, Greyhound bus deposit, restaurant*Gross sales $6,510,740 Net $220,860 $4,400,000

David Peressini Email: [email protected] or 250-371-3022 Westwin Realty

MERRITTWagon West Travel Centre adjacent land*1.38 acre C-3 zoned lot $590,000*1.78 acre C-3 zoned lot $780,000*32.27 light industrial property For lease or sale Other parcels also available

I N D U S T R I A L P R O P E R T Y Coldstream / Vernon

$2,400,000

250.801.8380 / [email protected]

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com B5

E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young Commercial Real Estate (B.C.) Inc. — 2012

FOR SALEMULTI-FAMILY RESIDENTIAL DEVELOPMENT LANDGUERIN ROAD, KAMLOOPS, B.C.

KAMLOOPS AIRPORT

Subject Property

This multi-lot, multi-family development offers sites ranging in size and development type including:

Bare Land strata for compact single family developmentCompact single family residential lotsMulti-family townhouse style developmentMulti-family 3 to 4 storey apartmentPlans for up to 350 unitsWalking distance to Thompson Rivers University

These fully serviced lots will be available for purchase and development in mid 2012.

Representing a strategic central city location with unparalleled views, in close proximity to all amenities, shopping and downtown Kamloops.

Robert Gritten Avison Young Commercial Real Estate (B.C.) Inc. D: 604.647.5063E: [email protected]

SUBJECT PROPERTY

DOWNTOWN KAMLOOPS

SUM

MITT D

RIVE

REGIONAL ROUNDUP Giant copper play would bring jobs, but some say environmental cost is too high

Please see Rebooting page B6

CAM FORTEMS/WI STAFF

WESTERN INVESTOR

ews that Teck Resources Ltd. is investing heavily in its Highland Valley Copper mine near Kamloops

and the buzz around this Thompson-Okanagan city of the potential for a new open-pit copper mine on the edge of town is all part of an apparent reversal in direction for B.C.’s third-largest city.

Teck president and CEO Don Lindsay said the company will spend $475 million in mod-ernization at the 40-year Highland Copper mill. Work has already started and the project, which is expected to boost production by 10 per cent, should be complete next year.

“We have significantly extended the life of the Highland Valley Copper mine in recent years, and the modernization of the mill makes sense, especially given the expected increas-es in throughput and copper recoveries,” he said.

The Highland upgrade is good news for Kamloops, which for decades depended on the mining industry for economic growth and jobs. That vision changed over the past few years, as the city reinvented itself as the go-to destination for recreation and resorts. That plan was good while it lasted. Real estate val-ues soared and developers stumbled over each other planning and building some of the most expansive resort properties in the province. As late as last year, the Alberta-based Real Estate Investment Network ranked Kamloops as the top B.C. Interior town for real estate invest-ment opportunities.

But the failure of the landmark Tobiano golf resort on Kamloops Lake (now under court protection) and the Mission Hill resort project (just now rising from the ashes of receivership ), and the shock of a wholesale drop in resi-dential prices this year (for the first time in a

decade) may have many in the city nostalgic for the days when mineral prices, not real estate values, dictated the economy.

They may soon see those big-spending min-ing days return, if the backers of the $800 mil-lion open-pit Ajax Mine have their way.

While capital costs are 50 per cent higher than forecast two years ago, a newly released feasibility study demonstrates the economic viability of the proposed Ajax Mine, promot-ers say.

Abacus Mining and Exploration Corp.said it hopes to start construction of the open-pit copper-gold mine in Kamloops late in 2013, following an environmental approval

from Ottawa and Victoria forecast for spring of that year.

The Vancouver-based firm, junior partner with Polish-based KGHM in a joint venture, said its study presents a solid business case and lays out the engineering basis for the proposed 60,000-tonne-per-day operation at the site of a historic pit.

Abacus president and CEO Jim Excell said the study – comprising 18 months of effort by consulting experts in mining, finance and engi-neering – proves the proposed mine is viable.

Executives said they are targeting May 2013 to receive environmental approvals from Ottawa and Victoria. Construction would start later that year, with mine production set for the middle of 2015.

With copper and gold prices only slightly higher than today’s levels, the study predicts the mine would pay back the nearly $800 million devel-opment cost in as little as two years. It is forecast to produce ore for 23 years, employing about 400 people.

Excell said the next 90 days are a key period for the project, which has run into controversy in Kamloops because of its prox-imity to residential areas. The mine would be operating within about 1.5 kilometres of Kamloops neighbourhoods.

Under the joint-venture agreement, KGHM, one of the world’s largest mining companies, has 90 days to determine whether it will con-tinue the partnership by purchasing another 29 per cent of the joint-venture company, requir-ing it to come up with $640 million to finance the project.

Ajax is also in the midst of a harmonized comprehensive environmental assessment overseen by the provincial and federal gov-

ernments.A 60-day public comment period that will

help focus environmental studies began in mid-January and includes a two-day informationmeeting this month (February).

“Now we can be focused on talking to people and hearing the issues,” Excell said.

That should be a lively discussion. There is stiff opposition to the mine in Kamloops, led by the Kamloops Area Preservation Association(KAPA). Its website, www.stopajax.com, callsthe mine “a huge, dusty open-pit operation ... a large part of which would be within theKamloops City limits.” KAPA, which hassupport, judging from letters to the KamloopsNews, also claims the mine would pollute near-by rivers and lakes.

But the mine would mean secure jobs. Theunemployment rate in the Thompson-Okanaganarea is down to 7.2 per cent, compared with8.6 per cent a year ago, according to StatisticsCanada, but remains above what is considered healthy for a city of 85,000. Some of the lost jobs were in residential construction, which had been a job generator. Last year, Kamloops housing starts plunged 20 per cent, with single-family starts down nearly a third from a yearearlier, according to Canada Mortgage andHousing Corp. (CMHC). This year starts are expected to remain at 500 units.

When residential assessments began arriving in Kamloops mailboxes last month, they showed that the average home value had fallen 1.4 percent from a year earlier, not a lot but the first time in 10 years that prices had dropped. The assessment authority values homes at July 1 the preceding year, but Graham Held, deputyassessor for the BC Assessment Authority,said little market shift occurred in the past six months. “It still looks pretty flat.”

Brian Ledoux, president of the Kamloops District Real Estate Association (KDREA) said the slightly declining prices come as no surprise. The association calculated the median price for a single-family home here was down

Abacus president and CEO Jim Excell: proposed $800 million Ajax open-pit mine at Kamloops is “viable.” But local opposition is mounting.

Phot

o: K

amlo

ops

New

s

B6 Interior B.C./Business Opportunities www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

VERY BUSY waterfront Ladies Boutique specializing in ladies fashions, shoes and a prestigeous jewelery and hand bag line. Considered to be “THE” boutique in the Okanagan with many requests to franchise. Asking $800,000. Is supported by the Statement of Income and includes training, industry insight and more.

A great life for a semi retired couple!

PEACHLAND, B.C. Waterfront location !

More information, [email protected] or

778-479-2442 eves. (Peachland)

www.librarysquarekamloops.com www.mcmrealestate.ca

Deborah Petersmeyer or Mona M. Murray Offi ce: 250-372-2277 Cell: 250-819-1108

Sales Offi ce On-Site at 689 Tranquille Road

PHASE 2 NOW SELLINGIn Kamloops, British Columbia

OPEN HOUSE HOURS: THURSDAY- SUNDAY from 1-4 PMOR CALL FOR AN APPOINTMENT

CONDOS STARTING AT $179,900Investors and Residents are offered a 10 year holiday on the City of Kamloops tax portion of their property taxes.

Please call and ask about the tax holiday.

Reasons To Invest In Residential Real Estate In Kamloops:

Financial Times Group’s Foreign Direct Investment Magazine report on “North American Cities of the Future”, Kamloops ranked as one of the fi ve best Micro cities to invest in.

- Kamloops is the 3rd best town in BC to invest in Real Estate as suggested by Don Rein in his report in 2011

- Third largest city in BC outside the lower mainland

- Major transportation hub for the Province of BC

- As a popular recreational & vacation area Kamloops attracts many young families seeking lifestyle choices

- Cultural experiences include theatre, arts and music

- Competitive development and business costs attracts a variety of new opportunities to the Region

- Increased mining activity expected in the next 2 – 5 years will add several hundred jobs to Kamloops area

- Increase in forestry expected as lumber sales to US & China increase

- Beef prices expected to stabilize which will support the cattle industry

- Substantially lower housing prices compared to Lower Mainland

- Growing population of singles, families and retirees

- International Student population expected to increase at Thompson Rivers University

from B5

about 1 per cent, to $327,000, at the end of last year.

According to the BC Real Estate Association, the residential sales in Kamloops were down about 5 per cent in 2011, compared with a year earlier. The KDREA is forecasting home sales will increase 4 per cent this year, with the average home price dropping 1 per cent to $299,000. More encouraging is a16 per cent increase in commercial real estate sales through MLS, in December 2011, compared with year earlier.

However, while com-mercial sales were up, the total dollar volume for the 22 properties sold that month was down more than a third from a year earlier. The suggestion: lower prices across the board.

The developer who has taken over the trou-bled Mission Hills condo project is fervently hoping for a market upturn this year. With the restarted project nearing completion, the city’s director of planning speculated units in the first phase will hit the market by this spring.

Edmonton-based Harbour Mortgage fore-closed on the project in December, taking original developer New Future Group and all creditors off the title.

The project will restart with a clean title, one 60-unit building nearly completed, a second that is partially completed and a third with a

foundation in place.“They wanted to know what’s needed and

steps to get the building finished,” said DaveTrawin, the city’s development and engineer-ing services director.

The first building was presold over a week-end four years ago. But when developer Mike Rink didn’t meet requirements for comple-tions, buyers were able to cancel the deals and receive back deposits. Two-bedroom units sold for $350,000 in 2007.

Kamloops realtor Vince Cavaliere said units will have to be priced under $300,000, where there is market activity. “The price point they’re

going after appeals to the majority of buyers. The challenge as an investor is what will they rent for? What’s your return on investment?”

The question of inves-tor rentals is an astute one. The residential vacancy rate in Kamloops is now 2.9 per cent, up from 2.6 per cent a year ago, reports CMHC. The average rent for a two-bedroom apartment rose to $747, up from $742 in 2010, however.

Meanwhile, the Tobiano golf resort is seek-ing a buyer for the 1,100-acre property on Kamloops Lake.

A recent report by the court-ordered receiver noted Pagebrook, the developer, “has been in discussions with potential Asian investors who claim to be interested in the project.” But receiver Doug Chivers, with Vancouver-based Bowra Group, said no offers have been forth-

Population 85,000Average house price $300,000Major employers Government, mining, tourism

coming for the resort despite efforts to sell the project. Tobiano was forced into receivershipby the Bank of Montreal in June last year. Anappraiser valued the development last year at $49 million, “but stated that if the property wasmarketed en bloc the value could be less thanthat amount.” The project could be made more attractive to purchasers by focusing on smaller,less-expensive units and changing its master plan, according to to Bowra.

It has contracted with Ecosign MountainResort Planners Ltd. to look at changing thatplan.◆

Assessed real estate values down for the first time in 10 years.

Cache Creek 5

Merritt

Chilliwack

KAMLOOPS

Coqu

ihal

la H

ighw

ay

BRITISH COLUMBIA

1

97c

5

1/97

✪

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com Interior/Northern British Columbia B7

(250) 231-5222 (CELL)

(250) 368-5508 (FAX)www.cbcworldwide.com www.coldwellbankertrail.com

COLDWELL BANKER COMMERCIAL WORLDWIDE30 UNIT APT $1,650,000

MAINLY SENIORS. BUS STOP IN FRONT. ALWAYS FULL.

HOTEL, LIQUOR STORE, RESTAURANT $499,000

COURT ORDER SALE

BLOCK MOTEL $695,000LARGE REDEVELOPMENT

PROPERTY.

TIME & PLACERESTAURANT & PUB

$489,000

DRY CLEANER $89,000NICELY EQUIPPED.

THE ONLY ONE IN THE CITY.

LIGHT INDUSTRIAL BLDG $425,000

4 LARGE LOADING DOORS. OFFICES & MEZZANINE.

AUTOMOTIVE BUSINESS

HIGH VOLUMELARGE EQUIPMENT

PACKAGE $159,000

DEV. PROPERTY $669,000

600 FT OF HWY FRONTAGE FOR AUTO DEALER & BODY SHOP.

CHATEAU MANOR $2,490,000

GOLDEN LIFE 20 UNITS & MANAGERS SUITE.

GROSS $390,000/YR.

MILANOS PIZZA $169,000THIS TAKEOUT IS ESTIMATING

"400,000" IN 2012.

1ST TRAIL REAL ESTATE LTD.

QUALITY INN 48 ROOMS

RESTAURANT$2,590,000

NICELY LOCATED AT THE CROSSROADS OF

THE KOOTENAYS.

BUSINESS AND INVESTMENT OPPORTUNITIES

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

– 9 bedrooms, 7 bathrooms on spacious lot. Built in 2008. Has all amenities needed. Well-priced at

– 6100 sf bldg. Large yard – 2 Tenants – 8.5% Cap – 3 Tenants - Well Established

– Future Highrise expansion – Hwy Frontage – Secure Yard

COMMERCIAL BUILDINGS

DWIGHT VOSphone: (250) 554-4511

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

email: [email protected]

PENTICTONLUXURY MOUNTAIN TOP HOME ON 2 ACRES

BEAUTIFUL VIEWS OF SKAHA AND OKANAGAN LAKE

$1,999,000

PENTICTONLAKEFRONT PENTHOUSE WITH MOUNTAIN VIEWS

AVAILABLE IMMEDIATELY

1 BDRM + DENNEW PRICE $479,000

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 LAKE & AVAILABLE IMMEDIATELY

2 BDRM + DENNEW PRICE $1,499,000

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.Reduced to $551,000

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

Elaine Kienzle250 563-8769www.elainekienzle.com

For Sale or Lease $575,0009630 sf on 3 levels, separate entrancescompletely refurbished since 2006ideal for retail, design & professional offices

Prince George

Get ready for Spring . . .Invest in a waterfront lifestyle today!Zoned for rec/res development - not in the ALR

26 acres, approx 1450’ of lakefront $295,00055 acres, approx 1650’ of lakefront $495,000

Riverfront Townhome site $500,0001.76 acres - approx 263’ of riverfrontzoned RM1 - multiple residentialpreliminary drawings for 13 townhomes

Prime, high profile location $749,500Hwy access near Costco & Future Shop3664 sq ft building on 1/2 acre lotzoned M3 - Business Industrial

7.32 ac along the Nechako River $545,000zoned res - not in the ALR - subdividableapprox 460’ of riverfront, nicely treedeasy access to downtown & UNBC

KITIMAT

CALL 604-725-4872 or 250-826-2284EMAIL: [email protected]

20-25%+ ROI/Cash on Cash!4-Plex for Sale - $259,900

Turn Key, fully managed unbelievableInvestment opportunity in the

Next Boom Town!

This Deal won’t last long!

DONNAANDNYLA.CA

D A W S O N C R E E KL U C R AT I V E B U S I N E S S O P P O R T U N I T YWell established Towing and Recovery business in Dawson Creek BC. "Exceptional Towing & Recovery Ltd." 150 X 150 Chainlink fenced, grave/asphalt compound, 1 bay heated garage, dispatch/offi ce unit w/services, storage shed. Zoned M-2 Light Industrial. All Equipment included with list available upon request.

MLS® 134219 Price $895,000 For more info call: Nyla Lepine & Donna Cooper

250-784-4044 [email protected]@remax.net DAWSON CREEK REALTY 250-782-8181 “independently owned and operated”

O K A N A G A N O P P O RT U N I T I E S

Cell: 250-864-9140 Toll: 1-800-367-3339 [email protected] www.timdown.caRE/MAX Kelowna Westside

Tim Down AACI, P. App, CAE, RI(BC)"Professionalism You Can Trust"

Investment PropertiesAcreages Court Ordered Sales

“Representing Buyers looking for Apartment, Manufactured Home Park and Mini-Warehouse Properties”

1 acre with 2 titles, rare find for the right investor and developer for high rise, timing is everything.

14 minutes to the airport and 38 minutes to Sun Peaks.

Call for details 250-376-7826

For Sale Kamloops North Shore corridor

Exciting opportunity to purchase the final 4 phases of this unique waterfront acreage subdivision. Perfectly

located at Lac Des Roches in the Cariboo offering recreation\retirement marketing to the Vancouver\Calgary\Edmonton markets. This gated community offers 4 season recreation with water-skiing in the

summer and cross country in the winter.

Possible VENDOR FINANCING and asking under $2 M.

Wayne Salter

[email protected] Parksville- Qualicum Beach Realty

Call Christine at the

marketing your franchise?

1-800-661-6988 (604) [email protected]

B8 Northern British Columbia www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

RE/MAX Centre City Realty

Each offi ce is independently owned and operated

GEORGE Weinand 250-960-9556

KEN Goss 250-565-7653

— Your PRINCE GEORGE Commercial Professionals —

508 George St.8,200 sq ft fully equipped 250 seat restaurant. Previously ‘Tony Roma’s ‘ franchise. Completely renovated & equipped.

www.pgcommercial.ca

THINK REAL ESTATE...The Best Investment on Earth

4350 Handlen Rd – ‘Court Ordered Sale’5,525 sq ft concrete block building on .99 Acres. Zoned C-6.

1440 – 2nd Ave.Extremely well maintained quality 5,386 sq ft OFFICE building. Vacant possession June 2012.

5083 & 5075 Domano Blvd.FOR LEASE – Prime College Heights RETAIL/OFFICE space. Visually desirable location. Net Lease.

9368 Milwaukee WayFOR SALE - 31,640 sq ft major fabricating/manufacturing facility (28’ ceilings). Located on 3.74 Acres, fenced yard, cranes, quality offi ces.

1921 Upland St.FOR SALE – Exceptional 12 unit apartment building. Good location, well maintained property. 8% Cap Rate.

9080 Penn Rd.FOR LEASE – 25,660 sq ft quality warehouse located in the Danson Industrial Park.

1108 Boundary Rd.FOR SALE - 9,000 sq ft cement block building on 2 Acres, fenced compound. Building has been renovated & updated. Land has been graded for proper drainage. 3-phase power.

1550 – 1st Ave.ONE OF A KIND OPPORTUNITY. 3 concrete block warehouse on 3 Acres. 44,080 sq ft total space. Well maintained with 11 loading doors, 13 O/H doors, 3 phase power & highway access.

1437 North Fraser Dr. – Quesnel FOR SALE – Court Ordered Sale 38.5 Acre property. 604 sq ft stand alone offi ce. Main 3,498 sq ft concrete block 4 bay truck shop, with 1,628 sq ft addition attached. A 2,160 sq ft storage building with a 648 sq ft wood frame storage shelter. A sand/gravel business historically operated from this site, however no licensing permits have been confi rmed.

9543 & 9565 Anzac Cres.FOR SALE - 1.88 Acres. Zoned M-2. Industrial lots, cleared, level & serviced.

760 Kinsmen Pl.New fi rst-class building in prime location. Ready for occupancy September 2012. Main fl oor 4,300 sq ft available and daylight basement 2,000 sq ft. Zoned C-4.

2222 Balsam Ave. – Quesnel,B.C.Highly visible fi rst class 12,177 sq ft main building. Also has warehouse, two mini-storage warehouses & caretakers mobile home.. Highway access o

2977 Ferry Ave.FOR SALE – 0.8 Acres on corner of Ferry Ave. & Ospika Blvd. C-6 zoning.SOLD

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com Northern British Columbia B9NORTHEAST BC REALTY Ltd.

Phone 250 785 4115 “Investing Our Energy In The North”

Located at 10220 101 Avenue Fort St John BC V1J 2B5 www.NEBCRealty.com F: 250 785 4120

RON RODGERS - OWNER / MANAGING BROKER Email: [email protected]

Restaurant Business For Sale

Well established location close tohigh traffic public event area of Fort St John, easyaccess from highway and 100 Street, high visibility

and good customer parking.Price includes kitchen equipment and appliances,

restaurant seating for63 and place settings, and more.

All inquiries be advised that a confidentiality agreement

will be required prior to release of any information.

Call Ron to discuss EXCLUSIVE Listing

FOR SALE

12.849 Acre 80+ pad RV - Trailer Park along the Alaska Highway

Ideal owner occupied business with potential for growth

Onsite owner and manager homes plus several investment trailers included in price.

Located within minutes to downtown Fort St John High Density Residential Zoning

Peace River Regional District jurisdiction

Asking $1.97 Million

All inquiries be advised that a confidentiality agreement will be required prior to release of any information.

Call Ron for more information MLS© N4505233

#133128: NEW STRIP MALL has 4 available spaces left for lease, 1,750 sq ft each. Great location on 8th street between Tim Horton’s & The Brick. Lease rates start as low as $16/sq. ft.Start your business here. Strip mall is 10,000 sq. ft.

Also for sale at $1,800,000

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 $16.00 per sq ft to lease.

FOR LEASE 3200 SQ FT SHOP with an additional 1680 sq ft of office are on upper floor. 2 doors 12x14 into 40x40 shop. Zoned M2 (light industrial) on .23 of an acre. Asking $16.00/sq ft.

#131876, 130050, 131875 - HIGHWAY

COMMERCIAL/INDUSTRIAL LAND Situated across from the EnCana event centre, Chances casino and new Holiday Inn this is a very desirable location. Total of three lots each approx 4.5 acres each, excellent visibility and access. Priced at $450,000 - $500,000 each

#129593: COMMERCIAL BUILDING WITH BEER AND WINE STORE for sale (gross sales of $2,000,000). Great location in Dawson Creek, also 40 apartments, bar/restaurant area and commercial space. Asking $3,500,000. Call for more info.

L A N D

#129635: RESIDENTIAL DEVELOPMENT LANDS, one parcel of 25 acres on the north west edge of Dawson Creek for sale, superb location for residential homes, the timing is right as we need more residential lots for our busy market place. Asking $625,000

#129877: ONE ACRE OF MULTIPLE RESIDENTIAL LAND suitable for 37 unit apartment or condo complex. Across from the hospital in a prime residential area of Dawson Creek. $179,000

#127836: SUBDIVISION FOR MOBILE HOMES! Total of 39 mobile lots are possible on this 4.6 acres, zoning in place, some services are already in, 3 lots have been subdivided. Call for more info. Asking $300,000

WILL BUILD TO SUIT - AIRPORT ONE ACRE LOTSDeveloper has 3 one acre lots in a row at the airport with highway frontage...will build a 5000 - 7,000 sq, ft. pre-engineered steel shop, provide a graveled and fenced yard with a 5 year lease starting at $ 14.00 per sq. ft. for the shell. Also willing to build and sell to ten-ant. One lot now leased and sold. Only 2 left!

#127066: LOCATION, LOCATION, LOCATION 0.74 acres at the intersection of 17 Street and Alaska Highway. Ideal location for strip mall, service station, etc. $295,000

#127441: 80 ACRES OF INDUSTRIAL LAND with highway frontage, railway tracks, water and sewer in the City of Dawson Creek. Asking $31,250 per acre

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]

#129952 - FOR SALE OR LEASE Multi purpose building with 2 units now leased leaving 11,000 sq ft. available. Upgrades include updated roof and furnacesAsking price is just $397,000

#129953 - RETAIL BUILDING Great location on 10th St over 3,000 sq ft on main and additional 3,000 sq ft on second floor, located next to Scotia Bank. Ground floor now leased out to only video rental company in Dawson Creek. Asking price of $375,000

#132673 - In the centre of the City close to the traffic circle on Alaska Highway...1.55 acres of flat land with all new services to the property and bordered by 8th street and the paved roadway to the new apartment building. Excellent location, commercially zoned, will builld to suit. $290,000

#130029 RETAIL STOREFRONT on 102nd Ave. for sale, 3500 sq. ft on a corner location, paved parking, good visibility can be used for offi ce, retail, or your own small business. Owner will consider leasing as well. Reduced to $119,000 as is

#130010 - WELDING / MACHINE SHOP for sale Includes 12’ door, 13’ ceilings, 3 phase power, 23o Volt/400 amp service. Gravel yard, 100 sq. ft. offi ce with shower & bathroom. Fire hydrant, 2 overhead cranes. $220,000

#129257: THE SOUTH PEACE UNITED CHURCH IS FOR SALE. OVER 11,000 SQ. FT. - Sanctuary, hall, kitchen, offi ces, and support services. Excellent corner location, zoned commercial, very good condition, ready for an offi ce or residential conversion. $495,000

#133401 - BUSINESS OPPORTUNITY located on the east side of Dawson Creek. Belsum Auto Recyclers Ltd has a proven track record and shows a good return. In-cludes 6.5 acres of prime industrial land on Hwy #49, a heated main shop with 3200 sq.ft. and an adjoining 2400 sq. ft. building used for stripping vehicles. Lots of inventory, and equipment includes 3 forklifts and a skid steer. Asking $1,200,000 for the land, buildings, and turnkey business with inventory.

#130083 - Prime location on Alaska Ave. in Dawson Creek - close to all retail and downtown and still on main artery through the City. Total of 17,000 sq. ft. of new space and can be divided into whatever you need. Popular new restaurant now open, lots of parking.

Remax Action Realty 1991 [email protected]

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

FORT. ST. JOHN

The Power Of Partnership!

KATHY MILLERCURTIS ROBINSONPERSONAL REAL ESTATE CORPORATION

11203 Tahlton Rd.This modern steel span building features over 11,750 square

feet of combined shop/offi ce space, and 11,250 square feet of cold storage. Located in newer area of Prospect Park on a paved street, with access to the Alaska Hwy.

$13.75/ sq. ft. + NNN- MLS# N4505157

LARGE MODERN LEASE SPACE

INVESTMENT OPPORTUNITY!9705 - 103 AveWell maintained 6-plex, this building

offers 2-3 bedroom units; 2-1 bedroom units & 2 bachelor units. 100% consistent occupancy makes this a great long term holding property.

$575,000 - MLS# N4505145

MOVE YOUR BUSINESS HERE!10611 - 100th Ave5000 sq ft free standing building for LEASE offering a high traffi c corner location.

$22.00/ sq ft + triple net MLS# N4504645

2160 SQ FT SPACE FOR

LEASE8223 - 93rd StreetWarehouse/offi ce avail. immediately. Drive

through 14 x 16 overhead doors w/electric openers, 9 x 15 offi ce.

$14.50/sq ft + Triple Net - MLS# N4504928

1500 SQ FT SPACES FOR

LEASE10607 - 101 AveExtremely well maintained building, ideal for an

art, dance, yoga studio or a small business. Immediate possession available.

$12.00/sq ft + Triple Net MLS# N4504845

OPPORTUNITY KNOCKING!

8224 - 93rd Street1050 sq ft of offi ce w/hardwood fl oors. Front reception & display

area & the shop with 3 bays, 1 is drive through/wash bay. Radiant heat, mezzanine area, 14’ overhead doors. Fenced compound all on city services.

REDUCED $810,000 - MLS# N4504836

Reduced to $839,000 (sold in 2007 for $1,000,000).

Email: [email protected] or call: 1-800-658-2345* Financing available O.A.C.

Sicamous, BC Multi-Unit Residential

For sales or leasing inquiries please contact:

Tel: Fax:

B10 Alberta www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

Online!New stories every week

Marketing commercial real estate in Western Canada.

In Print. On Line.Advertise. Subscribe. Make More Deals.

1-800-661-6988

In Print. On Line. www.westerninvestor.com

Every Month!

MARCH ISSUE: AD DEADLINE FEBRUARY 13

Report: Industrial Real EstateUrban renewal projectsInvesting 101: Joint venturesFranchise NewsLifestyle PropertiesRegional Roundups:BC: Prince RupertAB: Fort McMurrayMB: The PasSK: Spotlight: Big River

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

Cell: (780)878-1063 Fax: (780)672-2469Email: [email protected] www.camrose.ca

RAYTELFORD

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

www.apartmentsinedmonton.comSutton Central Commercial - AN INDEPENDENT MEMBER BROKER

APARTMENT OPPORTUNITIES15 SUITES, NAIT - $105K/unit15 SUITES, Downtown - $95K/unit20 SUITES Cromdale - $97,500/unit20 SUITES Cromdale - $98K/unit22 SUITES, Downtown - $110K/unit30 SUITES, Westend - $96,666/unitNEWER WAREHOUSE, 1455 sq. ft. - $369,000

Pam Gill (780) 455-4088 [email protected]

Commercial Property for Sale

[email protected] AJS Capital Inc. 780-469-4769

E sso Gas Station – C-Store and Car Wash. Excellent location along highway. Business and property for sale. $4MM.

T ruck Wash & Quick Lube – Great profits and income. Only 5 years old. Sales over 1MM. Strong cash flow. Asking $2.5MM for business and property.

S pruce Grove - Highway Property. – This is a lease buy back. Long-term lease available. Tenant in place. Asking $320,000.

B outique Hotel in B.C. – 22 rooms comes with liquor store, pub, banquet room, lottery, restaurant, etc. Sales over $2.8MM and net income of $600k. Asking $4.5MM

C ommercial Building – 3.9 acres. ATV Dealership. 2 buildings consisting of 24,000 sf and 12,000 sf steel building. Sales of $6MM. Asking $4MM for business and property.

REALTY EXECUTIVESNorth Star Edmonton

HAROLD SCHMIDT CRESASSOCIATE BROKER

1-877-428-2879 Toll FreeCell [email protected]

www.HaroldSchmidt.com

SCHOOL BUILDING WITH ATTACHED RESIDENCES

¸ 52,500 sq. ft. school bldg. & offices¸ 4 residence buildings accommodates 88 ¸ 4.85 acres in Strathmore, AB¸ Operating school leased to 08-31-2013¸ Zoning: P1-Public Service

4 ACRES IN NE EDMONTON

¸ Redevelopment land with multiple zoning.¸ 3 acres-Urban Services; 1 acre-RF1 + CSC ¸ Services at property line.

2 STOREY WAREHOUSE & OFFICES, ST. ALBERT, AB

¸ 4340 sq. ft. main; 4000 sq. ft. up¸ Some space leased short term.¸ Lots of parking.

WAREHOUSE/SHOP with SHOWROOM & OFFICES, ST. ALBERT, AB

¸ 9332 sq. ft. property + 4906 sq. ft. building¸ 3740 sq. ft. shop; 3 Phase power in shop.¸ Overhead door off rear lane. ¸ Lg. air-conditioned showroom; lg.office;

lunchroom; 2 washrooms.¸ Fenced yard. 2 sheds. On site parking.

RETAIL SPACE FOR SALE OR LEASEWEST END EDMONTON

¸ In strip mall zoned CB2. High traffic.¸ 940 sq. ft. great for office, accounting

or retail¸ Ample parking.

2 Prime Edmonton Jasper Avenue main floor commercial/retail

condos for sale.

Property is fronting on Jasper Avenue with excellent parking.

Long Term tenants in place.

EDMONTONJasper Ave

Please Contact

780-916-6336

WINDOW OF OPPORTUNITY!

Invest in land with development potential.

381 acres on Lake McGregor. Hour and 10 minutes SE of

Calgary. Approximately 3/4 mile of shoreline. Gently

sloping. Suitable for lake view lots or golf course. Vendor

willing to lease [email protected]

PRIME YUKON INDUSTRIAL PROPERTY

Prime commercial location on Industrial Road features 5200 sq ft on the main floor including retail area and large shop area at rear. Upper mezza-nine is 2700 sq ft of open storage area and offices. The CIM zoning allows most commercial operations and the prime location close to the corner of Quartz & Industrial Roads ensures great visibility for your business. MLS #6959 $800,000

126 Industrial Road Whitehorse, Yukon

For further information and tours please contact:

Ernie Bourassa, Dave Pearson or Darryl Weigand

1-867-667-2514RE/MAXAction Realty

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com Alberta B11

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

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


Waterfront Pub & Detached Liquor Store

Land, buildings and businessPrince Rupert, BC $2,500,000

BC’s fastest growing super port city

JOHN JOHNSON Tel: 604-319-2504Fax: 604-463-5287

PRUDENTIAL STERLING REALTY LTD.

For Lower Mainland Pub Opportunities call:

PUBS For Sale

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

POLARIS REALTY Commercial Realtor

INVESTMENT PROPERTIESFOR SALE!

18 UNIT WALK UP apartment in west Edmonton. Many upgrades. Good location. MLS listing at the best price per door price on the west end. SOLD!23 UNIT APARTMENT, University area, nice condition and 5.75 cap. Call for proforma

13,231 SF, 5 BAY RETAIL STRIP MALL in Leduc, AB., with solid long term tenants. 9 years old. NOI over $153,000 per annum. 7 cap at $2,095,000 - SOLD! 68 FULLY SERVICED MOBILE HOME vacant titled lots located within a modern Mobile Home Park in High Level, AB. Fully serviced, paved roads, underground utilities, fenced and landscaped. MOTIVATED SELLER MAY CARRY 60% FINANCING FOR A QUALIFIED BUYER! MLS #E1014318. Price recently slashed to $975,000 or only $14,338 per lot!

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!

FORT MCMURRAY – FOR SALE OR LEASENEW INDUSTRIAL SPACE AVAILABLE – 2012

Call or

www.property-solutions.ca(2006) LTD.

Please Call Bob Chinn, Assoc.([email protected])

Web: chinnproperty.com

or Mark Wilbert, Assoc.([email protected])

CENTURY 21 A.L.L. STARS REALTY LTD

Ellerslie RE-Development Site Four acre site on the northwest corner of Ellerslie Road and 66th Street close to the Edmonton International Airport. Presently, zoning is being changed to commercial. New developments along 50th Street and Ellerslie Road include a new Edmonton Recreation centre development and the Edmonton Park and ride. 50th street connects onto Beaumont and Anthony Hendey Freeway. Highway to Beaumont is in expansion phase.

OFFICE BUILDING FOR SALE. Prime Location. On Jasper Avenue and 114th street in the Oliver Area. 4 storey building consisting of 56,012 square feet . Property is on 3 lots (50 feet x 150 feet) with also parking lots (92 feet x 150 feet) in the rear. Property is wedge between two drugs stores (Shoppers Drug Mart and Medicine Shoppe). New developments all around. ELLERSLIE RE DEVELOPMENT SITE 80 acre parcel across from the new Edmonton Recreation centre along Ellerslie Road.PULSE POINTE DEVELOPMENT SITE. Located in the Quarters project on 95th street and 102 Avenue. A total of 4 lots (14,200 sq.ft.) (142 ft frontage and 100 ft deep. Presently, building is 11,840 sq.ft. This is a new up and coming area. Plans for future LRT system is slated for the area. Asking $ 3,300,000OLD STRATHCONA BUILDING. Located on Prime 82nd Avenue and 103 Street. Historical building. Long, long term Tenants, built in 1895. Building is 1650 sq.ft. of main floor with 12 foot ceilings. High ceilings in basement. Well looked after building. Asking $ 1,100,000

GEORGIO’S BUILDING. Located across the street from Strathcona High School along busy 104th Street and 72nd Avenue. Main floor is 3,500 sq.ft. with fully fixture restaurant and Upstairs is 1,600 sq.ft. presently used for office. Great owner user opportunity. Asking $ 765,000LAND AND BUILDING FOR SALE. Over 9,000 square feet on the main floor. Living quarters upstairs with a basement level, parking to the east of the building. Lot is 14,577 square feet (120 feet x 122 feet) Located in the Quarters project on 95th street and 102 Avenue. This is a new up and coming area. Plans for future LRT system, hotels and high rises is slated for the area. BUSINESS CONDO IN OLD STRATHCONA 1500 square feet perfect for professional use, has 6 offices, storage, kitchen, reception area. In desirable Strathcona. Close to all amenities, busy traffic.FREESTANDING BUILDING. Fully leased out on busy Jasper Avenue on a 50 x 150 lot. Building is two storey approx. 5,000 square feet on the main floor with paved parking in the rear.

EDMONTON & AREA

PH: 780-434-4700

SHOPPING CENTRES

AND

STRIP MALLS AVAILABLE IN ALBERTA!

Call SammyEMPIRE REAL ESTATE GROUP

780-906-6652

4110 - 79 Street NWCalgary, Alberta

10,250 Sq. Ft. Office Building

Calgary OfficePhone: (403) 214-2344 FAX: (403) 214-0244

BUILT ON THE POWER OF OUR NETWORK. OVER 375 OFFICES WORDLWIDE.

Shane OlinTel: (403) 708-9086

[email protected]

FOR SALE602 - 12 Avenue SE

Calgary, Alberta7,000 Sq. Ft. Downtown Site

4337 Macleod Trail SCalgary, Alberta

12,000 Sq. Ft. Shopping Centre

Jim CourtneyTel: (403) 291-8873

[email protected]

Tim AndersonTel: (403) 291-8866

[email protected][email protected]

GREAT RETAIL SPACE FOR LEASECentre 89, Calgary

Jim BalfourTel: (403) 291-8860

[email protected]

Tim AndersonTel: (403) 291-8866

[email protected][email protected]

HOTEL - FULL SERVICESOUTHEASTERN ALBERTA

5 MOTELS PRICED UNDER $700,000

RETAIL/SHOWROOM SPACE FOR LEASE4303 - 9th Street SE, Calgary

SHOWROOM / WAREHOUSE BAY FOR LEASEBay D, 4301 - 9th Street SE, Calgary

BUSINESS FOR SALE


INVESTMENT OPPORTUNITIES FROM BARCLAY STREET REAL ESTATE

CAPITALIZEON EXPERIENCE

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

WWW.BARCLAYSTREET.COM

FOR SALE35,381 SQ. FT.

4043 Brandon Street SE, CalgaryINDUSTRIALFACILITY

For more information or to view, please contact:

GREG [email protected]

p: 403-290-0178 f: 403-262-1314

refrigerated processing area (140 ton)

on-site

storage facility

PRICEREDUCED

FOR SALE53,233 SQ. FT.

4211 13A Street SE, CalgaryINDUSTRIALFACILITY


GREG [email protected]

p: 403-290-0178 f: 403-262-1314

extensive cooling storage, refrigerated processing area (64 ton)

treatment on-site

PRICEREDUCED

FOR SALE505 21 AVENUE SW

Calgary, Alberta


DAN [email protected]

RYAN [email protected]

p: 403-290-0178 f: 403-262-1314

The property is located in Calgary’s

Commercial District - Cliff Bungalow.

COMMERCIALOFFICE

FOR SALE224 15 AVENUE SWCalgary, Alberta


[email protected]@barclaystreet.com

p: 403-290-0178f: 403-262-1314

vibrant shopping and commercial districts, provides convenient access to various amenities including cafés, restaurants, shops

CHARACTER OFFICE BUILDINGFOR SALE1402-1404 9TH AVE SE, 1412-1418 9TH AVE SECalgary, Alberta


DEVELOPMENT SITE IN INGLEWOOD

[email protected]@barclaystreet.com

p: 403-290-0178f: 403-262-1314

NEWLISTING

B14 Recreational Real Estate LIFESTYLE PROPERTIES www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

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

Estate Purchase

Reach potential buyers with money to spend. Western Investor readers have higher than average household income and a real

interest in real estate.

Do you have a

Advertise your listings in our

special feature:

604-669-8500 1-800-661-6988

[email protected]

Recreational Real Estate LIFESTYLE PROPERTIES www.westerninvestor.com WESTERN INVESTOR

Investment OpportunityAvondale - Crystal Gardens Lake CommunityNewly remodeled home, 1870 square feet, 3 bedrooms plus den, 2 baths, prime location near shopping and freeway access, would make for a great vacation home or could rent for $1000-$1075 as an investment property.For Sale: $112,500

Contact us to start your portfolio today. 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.

Phoenix AreaAverage Sales Price per Square Foot

ARMLS Residential - All Areas and Types

ARIZONA Investment Property For SaleACQUIRE REALTY 623-853-7765Toll

Ste. 305 Avondale, AZ 85323

Sold Price: $51,900Rent: $850City: Tolleson

Square Feet: 1,423

Sold Price: $52,00Rent: $825City: Phoenix

Square Feet: 1,343

Sold Price: $60,300Rent: $895City: Glendale

Square Feet: 1,278

Sold Price: $60,500Rent: $825City: Goodyear

Square Feet: 1,159

Sold Price: $61,500Rent: $925City: Avondale

Square Feet: 1,197

Sold Price: $62,000Rent: $895City: Avondale

Square Feet: 1,255

Sold Price: $64,000Rent: $850City: El Mirage

Square Feet: 1,495

Sold Price: $64,000Rent: $785

Square Feet: 1,574


Square Feet: 1,435


Square Feet: 1,343

Sold Price: $87,000Rent: $995City: Laveen

Square Feet: 1,763

Sold Price: $105,000Rent: $1,150City: Goodyear

Square Feet: 2,277

Acquire Realty is family owned and operated with over 30 years of Real Estate experience. Contact us for Foreclosure or Short Sale Listings in Phoenix, Scottsdale, Fountain Hills, Surprise,

find your vacation home or investment property.

erhaps the strongest evidence of a recovery in the Kootenay recre-ational market is the sale of ranch-

sized acreages at the exclusive Ranches at Elk Park just outside of Radium Hot Springs. Prices range to nearly $3 million – and that is just for the land.

“We have sold two lots and we have holds on two others,” said Rudy Nielsen, founder and president of Niho Land & Cattle Company,which is marketing the ranches through its sub-sidiary LandQuest Realty.

Prices roam from $9,000 per acre for small parcels to around $2,100 per acre for 400-acre and larger ranches.

The 3,500 acres at Elk Park, a gated ranch community and perhaps the only one in B.C., are divided into 16 ranches, from 36 acres to 480 acres.

The two lots that sold – one to a retired Edmonton oil executive – are both in the 100-acre size, as are the two with pending sales.

The Ranches at Elk Park are what Nielsen calls a “rare collection” of recreational private estate properties. The ranches are framed by Kootenay National Park and the Columbia Valley and prices range from $390,000 to $2.95 million for 200 plus acres with a lake.

“This is a very exclusive opportunity,” said Nielsen, 70, B.C.’s most prolific land dealer. In the last 40 years, he’s put together thousands of successful real estate deals, involving tens of thousands of acres, from small plots to ocean islands, to entire town sites and huge farms

and ranches. “There’s nothing else like this in British Columbia. South of the border, in places like Montana, similar ranch-style communities are far less pristine and their prices are much steeper.”

Calgary-based Schickedanz West, the owner of the Ranches project, is adding a com-prehensive amenity centre outside the access point with fitness facilities and a private own-ers’ lounge, Nielsen said. He credited owner Fred Schickedanz for having the vision and patience to create “one of the best recreation-al ranch developments I have seen in a long time.”

Nielsen said buyers are a mix of permanent residents and seasonal owners who plan to

RECREATION FEATURE Wealthy investors corral exclusive acreages at Ranches at Elk Park in Kootenays

WI STAFF

WESTERN INVESTOR

eventually retire to the property. They share an common appreciation of nature, outdoor adventure, horse-back riding, hobby ranching and getting away from it all, “without going too far or spending too much.” Some of the ranches are lakefront, others have valley views and all have the security and privacy only big money can buy: there is only one access road and it is protected by a controlled locked main gate.

The success of Elk Park is likely cheered by other land and recreational vendors in the Kootenays, especially since it heralds the return of Alberta investors.

In 2007, Albertans were big in the Kootenay

area, grabbing more than 2,000 residentialproperties and more than 600 plots of vacantland, with the Columbia Valley figuring large.With the BC/Alberta border so close to Calgary,the Kootenays were a natural lure. Then the oil-fueled global economy stalled and Albertanswent quiet; in 2010 Albertan purchases were off by more than 70 percent or 756 sales ofresidential properties. However, with the globaleconomy swinging back and oil now north ofUS$100 a barrel Nielsen expects a resurgenceof Alberta buyers into the Kootenays.

“Our sales team says the number and quality of calls coming out of Alberta has increased substantially, compared to anytime from mid-2008 to late 2010, “ Nielsen said.

A recent survey by the Royal Bank fore-casts Alberta will lead the entire country in economic growth this year and next, and like-ly into the next decade. One telling stat: theaverage weekly wage in Alberta is $1,036 a week, almost one-third higher than the rest ofCanada.

And Albertans traditionally look to B.C. forrecreational property.

“You can golf, ski, and catch a large rainbow trout, all in one day in the Kootenays,” Nielsensaid. He notes that the ski hills of Panorama Ridge near Invermere and the amenities ofFairmont Hot Springs are close by Elk Park,with almost two-dozen golf courses within a30-minute drive.

Nielsen said The Ranches will attract a selecttype of buyer.

“The price range is for individuals with a pioneering spirit ready to embrace a rare oppor-tunity to own their own private ranch right atthe foot of the Rocky Mountains.”◆

Ranches at Elk Park: 200 acres with a private lake listed for $2.95 million.

www.westerninvestor.com WESTERN INVESTOR Recreational Real Estate LIFESTYLE PROPERTIES

®

www.bobplowright.com [email protected]

Why Harrison? Nestled against Southwestern British Columbia’s mag-nifi cent mountains and the sandy beaches of Harrison Lake, Harrison Village is your local destination fi lled with a rich history and natural wonders, including our world famous BC Hot Springs. Known for its leisurely days and friendly ways, offering nature, art, entertainment shopping and food.

Overwhelming Views

$1,888,000 Virtual tour at www.6565-rockwell.ca

FOR SALE AUTOMOTIVE PARTS STORE KITIMAT, B.C.

Gerri Saunders (250) 632-2107 (250) 632-6638

Virtual tour at www.annabelyoung.comANNABEL YOUNG Offi ce: 604-888-0786

Cell: 604-961-7541 Email: [email protected]

Far from the Madding Crowd

- Exquisite property features the best of the West Coast

- Water Front -1.84 acres of high water front

- Custom designed house infused with southern light

- Spectacular views of the Gulf Islands- Live year round or have a

weekend retreat and haven- MLS® F1118274 $1,075,000

Approximately 80 minutes northeast of Winnipeg on the Bird River. This classic lodge is world famous for trophy bear and deer hunting. Located 1/4 mile from a Department of Transportation certified airport runway. Suitable for church camp, corporate retreat, training centre or private retreat. Commercial kitchen. Games room, sauna & conference room. Thirteen bedrooms, sleeps 27 plus master bedroom & ensuite. Approx. 6900 sq. ft. on +/-2 acres. Asking $1.85M.

FOR SALE - On Bird River, MB

204-928-5008

Recreational Real Estate ADVERTISING FEATURE:• Limited spaces • 4-colour ads • Special rates

algary-based Resorts of the Canadian Rockies Inc. has pur-chased the highly succesful Kicking

Horse Mountain Resort – the last major B.C ski resort built in the past 25 years – near Golden, from Dutch-based Ballast Nedam.While the purchase price was not disclosed, Western Investor believes it was close to $28 million, based on post-sale filings by Ballast Nadam in Europe.

The sale could signal a long-awaited new cycle in resort investment in B.C., where there is a long list of properties on the market, some of them in trouble.

Steve Paccagnan will remain as president of Kicking Horse Mountain Resort under the new ownership.

It remains business as usual at Kicking Horse Mountain Resort, and all existing ski packages, passes and joint agreements will continue to be honoured, according to Paccagnan.

About 400 homes have been built and sold at Kicking Horse since the development opened.

Resorts of the Canadian Rockies Inc. is one of the largest private ski resort owner/opera-tors in North America, now owning six ski resorts across Canada, including three on the B.C. side of the Rockies. In addition to the ski resorts, Resorts of the Canadian Rockies also owns and operates a number of accommoda-tion properties, golf courses and a central res-ervation agency.

Kicking Horse Mountain Resort has obtained

provincial approval of a 40-year master plan, which calls for a world-class destination mountain resort with an expanded controlled recreation area, 20,000 bed units, an 18-hole signature golf course, a multi-use trail system with two proposed lifts and 4,188 acres of ski-able terrain.

Kicking Horse is not the only place in B.C. where prospective resort buyers have been kicking tires. Calgary-based Bellstar Resorts and Hotels is appar-ently preparing a bid for part of Aviawest,which has gained an extension of credit protection to March 26, facing $93.7 mil-lion in debts on five B.C. resort projects.

“We are looking at Parkside,” said a Bellstar spokesman, referring to Aviawest’s flagship Parkside Resort and Spa property in Victoria. Aviawest also owns the Pinnacle Lodge at Sun Peaks Ski Resort near Kamloops; the Water’s Edge Resort in Ucluelet; and the Pacific Shores Resort and Spa at Parksville.

Bellstar took control of the failed Solara Resort and Spa condominium project in Canmore last

COVER Recreational vendors hope recent sale of Kicking Horse Resort signals a new round of investment

FRANK O’BRIEN

WESTERN INVESTOR

year and turned it into a top seller. According to court documents, two offers

have been received for Parkside, but neither was for more than $20 million. Court-appointed monitor Grant Thornton said BC Investment Management Corp. is owed $29 million for Parkside’s first mortgage.

Plans also call for Pacific Shores Resort to

Kicking Horse Mountain Resort has been sold to Resorts of the Canadian Rockies for approximately $28 million.

Phot

o: K

icki

ng H

orse

Mou

ntai

n Re

sort

be sold for a minimum of $10 million to coverdebts owing.

Other B.C. resorts on the market include: • the new 108 Resort in the Cariboo Region, which covers 548 acres and includes an 18-hole golf course and other amenities, plus a lodge with 42 guest rooms. The asking price is $3.8million through LandQuest Realty Corp.;• Tobiano Golf Resort, at Kamloops, whichhas been on the market since last September.Receiver Bowra Group said the developers owe the Bank of Montreal roughly $26 million; • Manning Park Resort near Hope, B.C., isalso in receivership and up for sale. Assetsinclude nordic and downhill skiing facilities, alodge and chalets and a pub/bistro. The resort owes $700,000 in taxes and more than $1 mil-lion to providers, according to Bowra Group; • Saratoga Beach Golf Course on VancouverIsland just south of Campbell River, whichincludes an executive course and 37.4 acres ofdevelopment potential, is listed for $1.49 mil-lion by DTZ Barnicke, Nanaimo; • The high-end, 18-hole Tower Ranch GolfResort, zoned for 580 homes near Kelowna, isin receivership with the asking price choppedfrom $21.5 million to $14.5 million, listed with Colliers International.• Sotheby’s Canada has two Tofino waterfront resorts on the market: the 40-unit ClayoquotOrca Resort near Chesterman beach, listed under a court order at $2.95 million; and the 13-unit Duffin Cove Resort, at $2.35 million,according to Sotheby’s agent Mark Lester.

Porpoise Bay Golf Course at Sechelt on theSunshine Coast may also be in play soon. TheDistrict of Sechelt shut the course down last month and locked the doors after the operatorfell about $190,000 behind in lease payments for the district-owned land.◆

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com Recreational Real Estate LIFESTYLE PROPERTIES B15

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

www.landquest.comLandQuest Realty Corp Smithers

LandQuest Realty Corp CourtenayLandQuest Realty Corp Nanaimo

LandQuest Realty Corp Cariboo –

DEAN RIVER RANCHESCHILCOTIN REGION OF BC

NICOLA LAKE DEVELOPMENT ACREAGE - MERRITT, BC

THE NEW 108 RESORTCARIBOO REGION OF BC

$5,750,000 $2,600,000 $4,800,000

$2,995,000

$3,990,900 $849,900

FRASER VALLEY ACREAGESHOP / BARN FOR CAR BUFFS

BLACK STOCK ESTATES 100 MILE HOUSE, BC

BIG BAR GUEST RANCH SOUTH CARIBOO - BY CLINTON, BC

$79,000 - $114,000

$949,900

BACKCOUNTRY LODGES & TOUR OPERATION - SELKIRK MOUNTAINS

$3,900,000

$3,950,000

INDUSTRIAL/COMMERCIAL BUILDING & LAND, SMITHERS, BC

$119,000

RECREATION PROPERTY NEAR BIG WHITE

SLOCAN VALLEY ACREAGES

SHOAL HARBOUR MARINASIDNEY, BC

PORT BROWNING MARINA RESORTNORTH PENDER ISLAND

SPAIN LAKE RANCH

$320,000$155,000

GETAWAY AT ANAHIM LAKE

NORWOOD RANCHCOURTENAY, BC

$995,000

MOTEL, CABINS, RV SITES & RESIDENCE - CHRISTINA LAKE, BC

$495,000

$1.995 Million 14 acres - asking $699K

44 acres - asking $1.295M

RIVERFRONT LOG HOME & ACREAGENORTH THOMPSON, BC

ACRES OF OPPORTUNITYFRASER VALLEY

SHUSWAP LAKE DEVELOPMENT LANDS

$1.85M

SNAKING RIVER RANCH - 356 ACRESBC’S CHILCOTIN CATTLE COUNTRY

NEW YEARS SPECIAL PRICE $275,000

PICTURESQUE DEVELOPMENT ACREAGE - PRINCETON, BC

$599,000

$430,000

NORTH COAST OCEANFRONT

BOAT HARBOUR MARINANEAR NANAIMO, BC

1939 HERITAGE BOUTIQUE HOTELPOWELL RIVER, BC - REDUCED

2+ ACRES - HOPE, BCFRONTING ON 2 FAMOUS RIVER

$579,000 $11M 519,000

r

a

r

f

f

d

t

,

r


PROFIT FROM EDMONTON'S DOWNTOWN REVITALIZATION!

Call Gerald TostowarykTHE REALTY COMPANY

(780) 452-2700

COMMERCIAL (RE/MAX Excellence)

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

w w w.RemaxComm.ca

BUSINESS ONLY

Edmonton’s Business & Investment Specialists

Indian Restaurant - Prime location in Edmonton - PENDING

CALL AYAZ OR SAM AT 780.641.1320

INVESTMENTNisku M/T Bldg - Room for upside. VTB Avail. - PENDINGRV Storage & Service - 8.87 ac w/7,362 SF buildings - $1.095MGeneral Store w/Property - Outside Edm. Over $1M revenue.

2000 SF bldg on 0.345 acres. Excellent opportunity! - $595,000


MULTI-FAMILYNEW Triplex - Excellent location. Built in 2007 - $1.298M5 Units - Belgravia - Call For Info and Pricing9 Units - South Edmonton - $110,000/Door15 Units - Glenwood - $100,000/Door18 Units - Two building package. Strathcona - $130,000/Door

CALL MIKI O’REE AT 780.200.6454

INDUSTRIAL

Bottle Depot Businesses - 3 Locations in AB. Call For Info BOTTLE DEPOT BUYING & ORIENTATION - BOOK NOW!

***CERTAIN CONDITIONS APPLY***Auto Wash w/Land & Bldgs - Prime location in NE Edm - $3.5M

CALL RAJAN NULLIAH 780.441.5419

Sylvan Lake - Choice of 3 Est Motels. Beach facing & close to Marina. Priced at $1.7M, $2.2M and $2.635M

CALL RAJAN NULLIAH AT 780.441.5419

Land/Bldg For Sale - Spruce Gr. 5500SF on 0.7 acres REDUCED PRICE - $799,000

CALL ALLY PIRMOHAMED AT 780.604.0302

Self Storage Facility - 177 Units + 100 RV on 3.88 ac. - $2.1M

CALL MIKI O’REE AT 780.200.6454

CALL RAJAN NULLIAH 780.441.5419


Nisku Commercial Land - 5 Lots. Zoned CS - $400,000/Acre

LAND


LEDUC PROF. BUILDING - $1.65MFully leased. 8.6% CAP

61000 SF WHSE/OFFICE - $5.8M14135 128 Av. Priced to sell!

LEDUC PLAZA LEASE SPACE Only 5 units left! www.LeducPlaza.com

118 Avenue Strip Mall - Court Ordered Sale. - $1.525MCALL GREG STEELE AT 780.945.7800

Gas Station, Grocery/Convenience & Liquor Store - Over $2M in sales.Land, Bldg and Business Included - $1.3M

CALL NEIL HORVATH 780.908.5630

Proposal Closing Time:Monday, February 13, 2012

Local time 2:01pm

INVITATION TO SUBMIT PROPOSALYour organization is hereby invited to submit a proposal for commercial development within downtown Wabasca, as set out in this Request for Proposal documentation. You can download the RFP with support documentation from: http://opportunity17.civicwebcms.com/content/notices

InquiriesRefer all proposal inquiries to the Municipal Planner, by facsimile at 780-891-4283 or email at [email protected] or the Economic Development Officer, by email at [email protected]. All written inquiries and the replies thereto will be copied to all proponents.

MD of Opportunity No. 17REQUEST FOR PROPOSAL

Wabasca Downtown Commercial Development January 2012RFP# 01-2012

MD of Opportunity No. 17Box 60

2077 Mistassiniy Road NorthWabasca, Alberta T0G 2K0


REGIONAL ROUNDUP Calgary a free-spending go-to-town for higher-end retailers and mall developers

Please see Wowtown page B18

DAVE HUSDAL

WESTERN INVESTOR

algarians like to shop.While that fact gives them some-

thing in common with a lot of Canadians, Calgarians have an edge: the abil-ity to fund their trips to stores.

According to Statistics Canada, Calgarians enjoy the second-highest median family income in the country ($88,410), giving them the wherewithal to hit a lot of shopping malls.

Only folks in Ottawa-Gatineau averaged more, and let’s face it, a lot of those bureaucrats stuck paying provincial sales taxes in Ontario and Quebec don’t have the same amount left over when it comes time to shop.

Looking from a global perspective, the Brookings Institute, in a recently released survey of the world’s top 200 urban economies, ranked Calgary at 51, well ahead of all seven Canadian cities that made the list.

So it should come as no surprise that parking spots in decades-old Chinook Centre are some-times hard to come by. The Calgary mega-mall on Macleod Trail draws from all over the city of 1.1 million residents, and opened yet another expansion only a year-and-a-half ago.

Its results: sales that hit the annual $1,000-per-square-foot milestone for the period ending September 2011.

That fact, and a traditional lack of good vacant retail space in the city, combines to make Calgary an appealing place for investors who can capitalize on demand for space.

Isaac Beall doesn’t expect retail demand to wane soon. As a Colliers International retail specialist in Calgary, Beall expects to see “continued upward pressure” on lease rates that are already in the $60-to-$200-per-square-foot range in large shopping malls

such as Chinook Centre and the northwest destination of Market Mall.

While $22-per-square-foot lease rates are still around in some Calgary districts in strip malls, new retailers outside the destination malls can also be looking at rates into the $40 range.

Such rates reflect not only Alberta retail spending that’s 26 per cent above the national average, but also Cowtown’s 1.45 per cent retail vacancy rate.

“We’re effectively full. We’ve been consis-tently below 2 per cent for the last five years,” Beall noted, adding that the only exception was when a U.S.-based retailer declared bank-ruptcy and closed six stores in Calgary. It freed up 250,000 square feet of space and jacked the vacancy rate to a whopping 2.03 per cent.

“We’re one of the lowest vacancies in North

America,” he added.Calgary’s size and income levels also make

it a logical stop for American firms expanding into the Canadian market. It was chosen for one of only two large Bass Pro Shops locations in Canada, and more recently has attracted many of the retail world’s iconic names, including the likes of Harry Rosen and Victoria’s Secret,which unveiled in Chinook Centre this year along with Tiffany’s.

Both set up in Chinook Centre, but the other higher-end Calgary malls have also enjoyed success attracting first-to-Calgary tenants in the last 24 months.

There’s a big-city appetite for new and dif-ferent retailers in Calgary. The only obstacle in attracting them appears to be the right space.

To that end, there were a lot of major projects

on the drawing board in the fall, though consid-erably fewer under construction. Colliers iden-tified 298,000 square feet of retail construction going on in October, but another 8.1 million square feet planned.

Hot spots in the next 12 months are expected to include Sage Hill Crossing and BeaconHeights in the northwest, Seton and East Hillsin the southeast, StoneGate in the northeast andCurrie Barracks and Silverado in the south-west.

Seton will offer an eventual complement ofone million square feet of retail near Calgary’snew hospital, South Health Campus, which isexpected to open in phases starting this springand continuing on into 2013.

StoneGate Common, part of the even largerStoneGate Landing project north of CalgaryInternational Airport and east of DeerfootTrail, is envisioned for another 1.5 millionsquare feet of retail and retail-related space. WAM Development Group and partnerAlberta Investment Management Corp.foresee over 13 million square feet of retail,office and warehouse space in the huge project, which sits in a great location for transporta-tion and logistics businesses looking for closeproximity to southern Alberta’s two busiesthighways.

WAM’s building efforts were focused more on its Stoney Industrial Centre project on the west side of Deerfoot in 2011, with a fourthbuilding offering over 400,000 square feet ofspace nearly complete at year’s end.

A WAM promotional video for StoneGateLanding may sound a little ambitious, but it will ring true if all that is planned goes ahead. Notes a smooth voice on the company’s StoneGate website: “No other industrial area in Calgarywill compare, not in scale, accessibility or thor-oughness in planning, for the unique needs oftoday’s industrial businesses.”

The StoneGate Common project on thenorth side of Country Hills Boulevard hopesto capitalize on an eventual daytime workforce

TOP: Chinook Centre: mega-mall retail sales hit $1,000-per-square-foot last year. RIGHT: Calgary

seduces U.S. retailers, such as Victoria’s Secret.

Phot

o: C

hino

ok C

entr

e

Phot

o: V

icto

ria’s

Secr

et

Val ToffoliPhone: 780-707-9395

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

Selling Edmontonsince 1987

APARTMENT BUILDINGS:

B & B - HEALTH RETREAT – DEVELOPMENT - EXECUTIVE ESTATES

WANTED: APARTMENT BUILDINGSHave Qualified Buyers Ready to Purchase!

RESORT: Asking $4.0mil60 Acres in Rocky Mountain, 6 months open

GAS STATION: Asking $2.19milIn store sale only $2.45mil (with Lotto $450k)

Gas: $1.6mil Two living space separate included

4 bed + 1 bedMOTEL: Asking $3.79mil

38 rooms in EdmontonMOTEL: Asking $1.79mil45 rooms in Pincher Creek

LIQUOR STORE: Asking $1.55milSale $3.0mil in Lethbridge

Thomas Koh (CIR) 403-680-9827

[email protected]

NNN INVESTMENT OPPORTUNITY !!!ARIZONA INDUSTRIAL PORTFOLIO

4 Industrial Properties Offered at: $5,000,000

For additional information contact: JIM BOYD (602) 882 - 0345 [email protected]

GILBERT, AZ

Income: $70,200Property Size: ±48,516 SFAdditional ±33,000 SF availableBuilding Size: ±5,015 SFLease Expiration: February 2015*Leased by Fortune 500 Company!

PHOENIX, AZ

Income: $123,575Property Size: ±65,000 SFBuilding Size: ±8,150 SFLease Expiration: June 2018*Leased by Fortune 500 Company!

GILBERT, AZ

LAND PARCEL

Lot Size: ±31,186 SFZoning: Regional commercialOutside storage capabilitiesAdjacent to Gilbert property

CASA GRANDE, AZ

Income: $78,000Property Size: ±1.978 acresBuilding Size: ±11,894SFLease Expiration: January 2013*Leased by Local Organization!


CURRENT OFFERINGS, strategically

well placed in a Premier location, completely up-graded, significant mortgage financing, very strong revenue performances; a good investment with a big up-side potential going forward.

well located in a prime commercial area a dynamic city, the stellar performance of its operation is attested to by its continuous outstanding growth in revenues, plus substantial up-side potential.

consisting a variety of suites, well located with highway exposure and surrounded by a substantial number of conveniences, continued superb revenue performances that yield substantial N.O.I. that ultimately result in excellent return on equity and investment.

, featuring indoor Swimming pool among its other amenities, very well located on a service road that gives it highway exposure, outstanding Revenue/occupancy performances.

available for immediate Development in a most sought after location with main artery exposure and very high daily vehicle traffic count., priced for immediate sale at an

.

with potential uses for highway commercial and residential in a town with tremendous growth potential going forward,

consisting of 2-bathrooms, fireplace, cable among many other superb Features, plus the many amenities such as swimming pool, sauna, fitness Center, indoor parking to name a few within the Building Complex’ Immediate possession available, a great buy with cash to an existing mortgage of $330,900.00 more or less, at the

VIS

IT O

UR

WEB

SIT

E AT

: ww

w.c

alga

ryla

nd.n

et

EAST CALGARY - 84 ST. SE98 Acres near Stoney Trail

$15.6 Million

ROCKY MOUNTAIN HOUSE Golf Course, Campground and Development Land. 303 Acres,

Zoned Recreational$3.79 Million

ROCKY VIEW 160 Acres on Country Hills Boulevard

$5.6 Million

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

$32 Million

EAST CALGARY - 17 Ave SE 13.52 Acres Stoney Trail Frontage

$6.76 Million

CHESTERMERE- SIERRA VISTA

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

5-7 Units Per Acre 53 Acres - $6.9 Million88 Acres - $8.9 Million

140 Acres - $16.1 Million160 Acres - $18.4 Million

KEVIN MOORE(403) 617-2846

4 St. NERY -CALGA 160 Acres near Stoney Trail

MOTEL FOR SALEIn ALBERTA

22 room motel for sale, close to Edmonton on Hwy 36 and Hwy 14 where the only two hwys with wide loads crossing. Town based on oil and gas activities and year round business. Motel was completely renovated in 2009. The motel has some kitchenette units and some suites. Family owned and operated business. Great for families or investments. The motel has a 1500 sq ft house with double garage. It has 6 bedroom bungalow and 2 full and 2 half baths with lots of storage. Empty lot available for expansion.Contact:

Jeet Dhaliwal 403-404-5338

from B17of 20,000 in the area.

While Calgary’s prime retail space may be virtually full these days, it’s not from a true building slowdown.

Quite the contrary. Alberta’s largest city enjoyed a relatively strong 2011 on the building front, with the city’s building-permit values up a healthy 51.4 per cent for the first 11 months of the year over 2010.

Store owners are likely hoping retail invento-ry doesn’t drop fur-ther in their world, where renewals are often less problem-atic than moving in a tight Calgary mar-ket – one Beall says is influenced by the city’s approach to business regulation.

“It’s becoming increasingly more difficult to open and operate businesses in Calgary. That’s probably the only thing that’s hampering our growth right now, from a retail perspective,” Beall said.

Obtaining a development permit can be dif-ficult. The same is true of relocating.

“The change-of-use process is onerous and painful, and it’s becoming increasingly difficult for all tenants,” Beall said.

“Our renewal rates are very, very high typical-ly in retail. We don’t see a lot of relocations.”

Residential construction through November was pushed up by a 362 per cent hike in the

value of apartment/condo construction (3,257 units for 11 months of 2011 versus 882 for 2010). Commercial and industrial values jumped almost 78 per cent from a slow 2010, but were also up in the bigger picture.

“It’s impressive that [2011] values are up compared to the five- and 10-year averages, especially considering the record values that have been posted in recent years,” noted David Watson, the City of Calgary’s general man-ager of planning and development.

Even without final figures in for 2011, the city was looking at 2011 as its third-best year ever for permit values.

Meanwhile, the office market has amazed analysts,

with 3.7 million square feet leased in the past year, nearly five times the annual 10-year aver-age, accordng to a study by Newmark Knight Frank Devencore.

Over the last two years, the downtown mar-ket has leased the equivalent of over three entire Bow buildings, the company found.

The price of a home in Calgary ended the year roughly where it started, with the Calgary Real Estate Board (CREB) pegging the cost of an average single-family home at the end of 2011 at $466,402 – a 1 per cent hike. Condo prices fell about 1 per cent in 2011 to an average of $287,172.

Population 1,091,000Annual household income $88,4102012 projected GDP growth 3.5 per cent Warehouse lease rates (avg.) $7.64 per square footStreetfront retail $30 to $80 psf.Macleod Trail retail vacancy 0.64 per centOffice vacancy 7.2 per cent

CREB president Sano Stante is predicting the average detached house price this year will reach $476,000 and the typical condo price will be $292,000.

The reasoning is based on an expected net migration of 20,333 people into the city andCalgary employment growing by nearly 3 per cent this year. As well, mortgage rates have been cut to the lowest level in history.◆

“At $88,410 Calgarians have Western Canada’s highest annual family income”

2

2

567

Airdrie

567

1A

8

22X

CALGARY

OKOTOKS✪

●

STETTLERALBERTA

PRIMEHIGHWAY COMMERCIAL

IDEAL FOR TRUCK STOPRESTAURANTTRUCK WASH

MOTEL .......... ETC.

For more info :email:[email protected]: 403-318-8483


Each office is independently owned and operated.

Each office is independently owned and operated.

Prime Real EstateSylvan Lake, Alberta

Call CARL STEPP cell: 403-358-9300www.sylvanlakehouseguy.com

RE/MAX real estate central alberta

LEASING OPPORTUNITYOFFICE/COMMERCIAL

Modern building up to 180002ft with 80+ parking stalls. One hour North of Calgary airport with high visibility and 2 minute access to QE II Highway. High traffi c volume $10 /sq ft NNN

DON WILSON 403 559 7781 [email protected]

BOWDEN ALBERTA

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

2 COMMERCIAL VACANT LOTS ON 50TH STREET IN COLD LAKE ideal for new develoopment 110 ft of frontage $239,900

Adjacent lot to the above 165’ x 125’ with a 40’ x 60’ warehouse. All chain link fenced $239,900

7.2 ACRES ZONED HIGHWAY COMMERCIAL Services prepaid $749,900

JOE & MATT GAGLIONE 780-488-4000 or 780-953-3171

[email protected] www.gaglionerealestate.com

RE/MAX Real Estate

Turn Key Horse Operation with Instant Cash Flow!Located east of Edmonton. Large equestrian facility with indoor arena and round pen. 35 stall barn all with automatic waterers and lined with puck board. Outside paddocks have automatic heated waterers. Has been in operation as a boarding and training business for several years. Includes a large home with 3 car attached garage and full basement. 2 bedroom mobile home for staff, or could be leased out for extra revenue.

Call for further details on revenue, expenses and to discuss how you could be running this facility.

DORIS THERIAULT [email protected] www.StAlbertAB.com

75 ACRES - 127th St & 190 Ave Prime area situated on the

border of city of Edmonton.

This 75 acre parcel has plenty

of potential. 1 km from new

Anthony Henday, South City

development Goodridge

corners has draft ready.

Neighboring city of St Albert

1/2 Km west.

MLS # E3282654$4,875,650

PRIME LAND IN NORTH EDMONTON !!!140 ACRES - Hwy 37 and 50th St

This large area of

land is bordering

Edmonton and

has the city snow

dump 1/2 km

east of it. 66 St

Edmonton to di-

vide property into

two parts. Next

to the Edmonton

Technology Park.

Phone for more

info!!

MLS # E3283899 $2,534,400

Attention Agents:REACH QUALIFIED BUYERS FOR YOUR

LISTINGS☞call Gary Takahashi

toll-free: 1-800-661-6988 direct: 604-608-5111fax: (604) 669-2154 email: [email protected]

☞


INVESTMENT SALES

PRIME WEST EDMONTON LAND – RA7

CONTACT JEFF McCAMMON / DOUG BAUER OR DUSTIN BATEYKO

QUESNEL, BRITISH COLUMBIA

CONTACT HOWARD McCANN /DOUG FOGG OR ADAM MARTINSON

MULTI-FAMILY OPPORTUNITIES

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

or RAPHAEL [email protected]

COMMERCIAL CONDOS

CONTACT BURKE [email protected]

DEVELOPMENT OPPORTUNITIES

+/- 19,701.20 SQ FT: Vacant serviced site in NE Edmonton. Zoned CB1 (Low Intensity Business Zone) ......................................... $395,000+/- 0.947 ACRES: in Valemount, BC. Zoned C3 (Service Commercial) ................................ $49,500+/- 1.05 ACRES: in Valemount, BC. Zoned HC (Highway Tourist Commercial) .............$455,000+/- 3.84 ACRES: Fronting St.Albert Trail, Zoned IB (Industrial Business) ........................ $3,500,000+/-13,812 SQ FT: 8204 – 106 AVENUE………. .......................................................$495,000+/- 0.31 ACRES: high visibilty location on 111 Avenue .......................................................$610,000

CONTACT JEFF MCCAMMONOR DOUG BAUER

STETTLER MALL, STETTLER, AB

WESTLOCK MALL, WESTLOCK, AB

CONTACT DAVID COONEY / DOUG FOGG OR HOWARD McCANN

DUGGAN MALL, CAMROSE, AB

MULHURST BAY CROSSING

INDUSTRIAL BUILDING FOR SALE

CONTACT JEFF McCAMMON OR DOUG BAUER

SPRUCE GROVE, DEVELOPMENT LAND

CONTACT DOUG FOGG OR MARK McCANN

OFFICE BUILDING FOR SALE

CONTACT IAN NEWMAN

FORT MCMURRAY, AB

CONTACT DOUG RAE

MERRITT, BRITISH COLUMBIA

CONTACT [email protected] [email protected]

EDSON LANDING - $3,950,000

CONTACT HOWARD MCCANN /DOUG FOGG OR ADAM MARTINSON

FORMER WAL-MART, MEDICINE HAT

CONTACT HOWARD OR MARK McCANN

www.cwedm.com

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

[email protected]

SITE

MOTELS & HOTELS≥ PROVOST Brand new 44 unit motel.

Asking $4.5M≥ CAMROSE 20 unit motel, (nice Ma & Pa

operation) upgraded and very clean, Asking $1.1M.

≥ HARDISTY New 44 unit Motel.≥ 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 $4.0M.

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

OTHER INVESTMENTS≥ DAYSLAND Convenience store and Gas Bar.,

Mechanical shop, all located on a 1.5 acre parcel with residence. Shows good revenue. Asking $375,000.

≥ CAMROSE, AB 2 Side by Side, newer 4 plexes. Fully leased. Asking $560,000 each

email:[email protected]

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

CAMROSE, ALBERTA

ALBERTA IS AGAIN MOVING!

SOLD

DUSTY SMITH TEAMSUTTON LANDMARK REALTY / RED DEER, AB

CENTRAL ALBERTA CAMPGROUND OPPORTUNITIES

LAKEFRONT! 403-347-0744

KACIKEWIN CAMPGROUND & CABINSOnly 40 min. west of Edm. 10.00 +/- Fully treed acres. 89 beautiful lakefront sites. Fully rented last 9 yrs. Store/Manager's residence. Room for expansion! Large sandy beach area. Located west of Alberta Beach on Lac Ste. Anne.

LAKEFRONT BEAUTY ONLY 90 MINS FROM CALGARY

Chalet style cottage or year round home on a quiet cove. Absolutely loaded with upgrades and features. Walkout basement. Stunning views from all decks. Private Parklike yard with paved drive and mature landscaping. Excellent waterfront depth and dock system. Pine Lake is famous for its sandy bottom, excellent boating, watersports and fishing opportunities. One of a kind property guaranteed to impress. Only 90 mins from Calgary and 25 mins East of Red Deer. More info at www.pinelakeproperties.ca

$3,250,000

$829,900$829,900


High River annexes 1,700 acres The southern Alberta town of High River

grew significantly on January 1.The community of 12,000 about a half hour

south of Calgary swallowed up 1,769 addition-al acres under an annexation deal approved late in 2011 by the province’s Municipal Government Board (MGB).

The land added to High River was formerly in the Municipal District of Foothills.

The annexation was supported by both the town and the M.D., but was not supported by some mineral rights owners. As well, some M.D. landowners weren’t happy to be left out of the annexation.

In approving the annexation, the MGB ordered the town to pay $800,000 to the M.D. as compensation – an amount the two munic-ipalities had agreed on.

In its written decision, the MGB noted: “The board places considerable weight on the fact this compensation amount is the result of successful negotiations between the two municipalities.”

The board also commented on the objection of mineral rights owners to the annexation.

“The denial of the entire annexation appli-cation, or, alternatively the exclusion of (certain lands) from the annexation applica-tion, would mean that the standpoint of the surface landowners would be forfeit in order to accommodate the standpoint of the subsur-face mineral rights owners.”

The board noted the province’s Energy Resources Conservation Board can still approve oil and gas wells in an urban municipality.

High River is located in an established oil- and natural gas-producing region.

The town says the annexation will provide enough land to cater to High River’s growth for the next 30 years. Its next step is to pre-pare a growth management strategy for the annexed lands. A public consultation process for that started in January.

Province nets record rights sale While urban municipalities are expand-

ing, the oil and gas industry in Alberta continues to gobble up the rights for oil and gas deposits in the province – and to pay significantly for those rights.

The province announced in late December that it took in more than $3.5 billion during 2011 for the sale of oil and gas rights.

That figure is roughly 48 per cent higher than sales in 2010, the previous record year.

“Land sales illustrate that Alberta con-tinues to be competitive in attracting new investment, which benefits all Albertans,” said Energy Minister Ted Morton, who went on to credit new technologies to access deeper deposits as mechanisms that will keep rural communities strong – and resource revenue flowing to the government.

St. Albert recruiting new industrial buildersThe City of St. Albert wants to actively

pursue with landowners the develop-ment of designated industrial lands in the southwest and southeast corners of the city, to accommodate industrial growth for the next several years. But there is a hitch.

City council for the Edmonton suburb has directed its administration to conduct a review of commercial and industrial lands, and to work with landowners of the zoned lands to move forward with servicing and development. It also wants to explore changes to the city’s land-use bylaw and an area structure plan that could allow for industrial use of lands west of Ray Gibbon Drive, which connects St. Albert to the Anthony Henday freeway around northwest Edmonton.

But St. Albert council also opted to post-pone designating new areas for industrial zoning prior to April 30, 2012.

“Council believes that we need to get a better handle on the regional market for

he City of Spruce Grove has approved a key new develop-

ment and a necessary land sale to accommodate it.

The $30-million develop-ment, known as Tri Village Commons, is adjacent to the Edmonton suburb’s popular TransAlta Tri Leisure Centre. The city approved the sale to Tri Village Developments Ltd. at the appraised market value of $565,000 per acre for the 2.2-acre site.

It will feature a village theme and include a four-storey Holiday Inn Express and Suites with conference facilities, a three-storey professional building and several one-storey build-ings featuring retail and restaurant space.

The project’s development-permit application is expected to pass early in 2012.Spruce Grove, located 10 minutes west of Edmonton on Highway 16, has enjoyed relatively

strong success in attracting new commercial development in the past five years.Construction on the project is expected to start in spring 2012, according to city officials.

Lease space is available from 1,000 square feet to 60,000 square feet. Tri Village Commons being developed by Tri Village Development and marketed by Colliers

International.

Tri Village Commons now underway in Spruce Grove.

Phot

o: T

ri V

illag

e De

velo

pmen

ts

industrial lands before we can make a final decision,” said Mayor Nolan Crouse. The mayor called the decision “prudent,” and emphasized his city – whose growth has been slower than other Edmonton-area municipali-ties – is determined to see business growth.

“We absolutely remain committed to the pri-ority of economic development,” Crouse said.

Red Deer permits up 70 per cent Building activity in Red Deer remained in

bounce-back mode for 2011.According to City of Red Deer figures,

building-permit values in the central Alberta city were up about 70 per cent for the first 11 months of the year, with 2011 permits valued at $160.4 million, versus only $93.8 million for the same period in 2010.

Commercial and industrial values more than doubled those, while residential values were up by a more modest 10 per cent.

Wetaskiwin bites debt bullet The central Alberta city of Wetaskiwin,

known as the car-buying capital of Alberta, has rolled closer to a fancy new aquatic centre, but not without agreeing to take on more debt.

In a split vote, the council for the city of 12,000 a half hour southeast of Edmonton, voted to approve a borrowing bylaw that will see the city take on up to $12 million in new debt for the Wetaskiwin Regional Aquatic Centre.

The facility, viewed by some as a key piece for shopping, in-migration and related eco-nomic activity in Wetaskiwin, is expected to cost about $22.4 million, compared with about $18.6 million that was initially estimat-ed. It will replace a 30-year-old facility.

The County of Wetaskiwin is contributing $4 million to the new project in the agricul-ture/oilpatch/retail-service centre.◆

– Compiled by Dave Husdal

Call KEITH LEESSUN CITY REALTY LTD.

PH: [email protected]

FOR SALE

FOR LEASE

Established Restaurant & Catering business

1500 sq.ft Professional Business Condo.

2000 sq.ft. Commercial or Retail location.

1440 sq.ft. Renovated Professional Location

READY FOR CONSTRUCTION: 24,500 Sq. Ft Commercial Lot,

We are looking for 1st or 2nd mortgage lending

opportunities for:

CareVest has been providing its industry leading lending services since 1994. We provide integrated real estate services specializing in the investment, financing and syndication of real estate mortgaging throughout Western Canada and Ontario.

1-877-509-0115 www.carevest.com

We have funds available!

Commercial,Industrial & ResidentialFinancing

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

Obtaining Mortgages and Loans can be made Easy &

Simple!

Contact:Frank Hickey


PEACE RIVER, ALBERTA FOR SALE: COMMERCIAL BUILDING

Presently leased - some Vacancies available.37,000 sq. ft. on 2.99 acres. Includes commercial Kitchen, banquet roomplus smaller offices.Many upgrades and renovations. Downtown location - plenty of parking. Offered for $2,500,000

Thiry Kelemen 780-831-8804 [email protected]

For Further Information and Details, Call

RE/MAX GRANDE PRAIRIE

NORTHERN ALBERTA FULL SERVICE HOTEL FOR SALE

81 rooms and suites - on 12.5 acres.Highway frontage - lots of parking.76 seat coffee shop, 135 seat dining room, 80 seat pub, 160 seat Sports Bar with VLT’s.2 homes for staff housing. Offered for $16,000,000

YOURADVANTAGEIN ALBERTA

SHOPPING PLAZA, HOTEL IN BIG CITY

Hotel: $1,110,695; Rental: $513,253; Others: $669,734

TRUCK STOP & RETAIL SPACE IN CALGARY

LIMITED SERVICE MOTEL

MONEY MAKING FRANCHISE MOTEL

NEW FRANCHISE MOTEL NEAR CALGARY

LIMITED SERVICE FRANCHISE MOTEL


LIMITED SERVICE FRANCHISE MOTEL


MOTEL IN B.C.

FRANCHISE MOTEL IN SOUTHERN ALBERTA

GAS BAR / CAR WASH

GAS BAR, C-STORE AND A&W

CAR WASH NEAR CALGARY

SHOPPING MALL

MOTEL WITH RESTAURANT IN SK

MOTEL WITH RESTAURANT

MAXWELL www.leechoonho.com

FRANCIS LEE, Associate Broker

For More DetailsTel: 403-680-6130Email: [email protected]#20, 8180 Macleod Tr. South, Calgary

• 3000 sq ft character office space - Victoria Park• 4000 sq ft Penthouse office space - 17th Ave S.W. Calgary• 1500 sq ft fully equipped restaurant space for lease• RV Repair Business, Calgary - $650,000• Neighbourhood Shopping Centre - $4.2M• SW Calgary neighbourhood - Deli - $69,500• 6 Unit Condo - NW Calgary - $1.2 Million

Email: [email protected] to Receive Our Current Alberta Apartment Report!

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

CALGARY BUSINESSES FOR SALE!

Tim Walsh,Commercial Realtor®Direct: (403)239-5100

Calgary, Alberta

Tim Walsh, Commercial REALTOR® Direct: (403)239-5100Email: [email protected]

www.BestAlbertaRealEstate.com

RV & campers: rent, repair & custom work- Very profitable, good location- $500,000 Yoga studio in growing community- Steady increase in membership & sales

- $60,000

INDUSTRIAL LANDw/BUILDING FOR SALE

Asking $2,532,500 - Ponoka, Alberta11.55 acres, 8 individual lots with a 5000 sf unfi nished

panelized structure on Lot #10 (Lot #10 - 15 are 6 contiguous lots; Lots 19 & 20 are 2 contiguous lots)

Located at 49th Street and 60th Avenue in the north Industrial Park within the town limits.

Site is provided with all municipal services, and a railway spur connection to the main CPR line between Calgary and

Edmonton. Recent rail crossing was completed by town of Ponoka.

Excellent manufacturing site or stage area for Oil Sands or other Northern Industrial projects.

Lots are for sale individually or as a whole parcel. Owner may sell entire parcel within the Corporation with tax loss advantage to purchaser. MLS# C1019384, C1019385, C1019387, C1019388, C1019389, C1019390, C1019391 and C1019392

Mary Yuen-Sears, RealtorSUTTON GROUP - CANWEST

#1, 555 Hawkwood Blvd NW, Calgary, AB T3G 3K2

SOLDSOLD

SOLD

Tyler R. ShannonVice President, Investment, AssociateDirect Tel: 403 508 6471Mobile: 403 681 [email protected]

1410, 715 Fifth Avenue SW Calgary, Alberta, T2P 2X6

ROCKY PARKCIR REALTY

403-681-7512www.rockypark.ca

MOTEL IN ST. PAUL

MOTEL IN MOSSLEIGH

MOUNTAIN HOUSE


REGIONAL ROUNDUP Gun-shy developers in booming capital can still count on government handouts

Please see Growth page B24

FRANK O’BRIEN

WESTERN INVESTOR

ne hundred and ten years ago when immigrants arrived on the Saskatchewan prairie near current-

day Regina some sheltered in pits dug into the ground against the severe winter. Come spring, the rugged and ragged men would walk miles to work on railroads while women and children hitched themselves to plows to begin Canada’s richest agriculture industry. It was this level of independent grit and cour-age that created Saskatchewan and its capital city. It is now appears a rare commodity.

Today, Regina has one of Canada’s strongest economies – ranked fourth for GDP growth – a growing population and such high demand for real estate that less than 1 per cent of office space is vacant and the apartment market and industrial sectors are the tightest in North America.

Yet city developers have become so cautious that Regina taxpayers are doling out millions of dollars in tax breaks and incentives to convince them to build new offices or homes.

“I think it is bit of a hangover from the NDPdays,” said Paul Mehlsen, managing director and a veteran commercial real estate special-ist with NAI Commercial in Regina for more than 25 years. Mehlsen is only half joking. He notes that for years the provincial government was the dominant office tenant in the city, a fact that lulled the developers into a state of near inertia. Not a single new office building was built in Regina in the past 20 years, despite every indicator signalling a boom forming in Saskatchewan’s resource sector.

When a new tower was finally opened last year – the 400,000-square foot, 16-storey Mosaic building – more than half the space was claimed by government and the city kicked in a three-year tax break to the developer.

Harvard Developments has just started construction on Tower III, a $100 million, 200,000-square-foot, 18-storey instant land-mark that is already fully leased.

With such demand for office space that the Class A vacancy is estimated at 0.8 per cent – the lowest ever recorded in Canada – it would appear developers would need no further incen-tives to build on spec.

But this is Regina. This year, the city is offer-ing any developer who builds new office space downtown a 20 per cent annual tax break for three years if it builds Class A or Class B space. Property taxes for such projects can range from $500,000 to $1 million per year. The incentive will stay in place until the office vacancy rate reaches at least 5 per cent, according to city officials.

“Developers aren’t building on specula-tion,” explained Larry Hines, president and CEO of the Regina Regional Opportunities Commission. “If someone comes into Regina looking for 50,000 square feet downtown, we don’t have it. The city is missing an oppor-tunity.” The lack of available space, he said, could convince potential tenants to locate in the suburbs or – horror – Saskatoon or other western cities. “The incentives will convince developers to pull the trigger,” Hines said.

Melhsen has a simpler explanation why the office incentives are in place: “The Mosaic tower got it, so everyone else wanted it.”

There are some who worry that govern-ment handouts may not be the best method to encourage office construction. John Hopkins,CEO of the Regina and District Chamber of Commerce, has voiced concern that the

incentives could distort the market. Tenants could begin relocating to buildings receiving the tax exemp-tion, he suggests. But tenants appar-ently won’t be getting any breaks on rents in the subsidized office space. NAI estimates that new Class A office lease rates in downtown Regina demand $35 to $37 per square foot, similar to that charged in Calgary and Edmonton, where spec office build-ing is normal.

It is not only the office market where government is handing money to developers. Regina is also wheel-barrelling cash this year to devel-opers who built either rentals or condominiums in the downtown and selected areas. This is in a city where the rental vacancy rate is pegged by Canada Mortgage and Housing Corp. (CMHC) at 0.6 per cent, the lowest in Canada if not all of North America. Rental rates for two-bedroom apartments are up 6.2 per cent from a year ago, the highest increase among the 25 major centres CMHC surveyed in its fall 2011 report. The average monthly rent for all apartments in Regina increased to $850 in October from $802 last October, the report said.

Sounds like developers would need no encouragement to build more homes. Think again. The City of Regina is offering a five-year tax exemption for new residential condo-miniums or rental projects under its recently expanded Residential Tax Incentive Program. The city also offers a tax exemption of $7,500 per suite for five years for anyone who converts space into housing in Regina’s old warehouse district. Developers may apply for an exemp-tion on several units at once or for a whole phase of construction. The city has also slapped

a moratorium on the conversion of rental apart-ments to condos, though many of the condosare bought by investors who rent them out. CMHC says that the number of condominiums identified as rentals totals 897 suites, a two-foldincrease from its October 2010 survey.

And there is even more government help forhome builders.

The city is also linked to new provincial“headstart on a home” and “affordable home ownership” programs. The incentives mayseem redundant in Regina, which has boththe lowest average housing prices of any major Canadian city west of the Maritimes, at$276,000, and the lowest unemployment rate.

Headstart offers low-interest loans directly tobuilders and developers of “moderately priced”homes. The affordable home ownership pro-gram gives home buyers down-paymen tassistance of up to $5,000. The province also

“The incentives will con-vince developers to pull the trigger.”

Harvard Developments Tower III: 18-storey tower under construction in downtown Regina.

Phot

o: H

arva

rd D

evel

opm

ents

SASKATOONAPARTMENTSElbow- 134 acres

Prime Development LandParcel is currently zoned agricultural. Village will allow for commercial and acreage lots through application. Land is located on the east edge of village along highway. Village has recently opened up new residential lots with building going on. Elbow is home to one of the finest golf courses and huge deep water marina on Lake Diefenbaker; within driving distance to Saskatchewan's two largest cities. 145km to Saskatoon and 190 km to Regina. Asking $675,000 MLS.

Garry [email protected]

3020 Arlington Ave, Saskatoon

AWESOMESASKATCHEWAN!

Norland Realty

reginaroc.com

grow as fast as its economy.Your interest in this city will

Maple Creek, SKFurniture store, established,

profitable 11 years in business. Fantastic reputation.

Located in Historic building.

Call 306.741.4373www.weswoodopportunity.com

BUSINESS & LAND

FOR SALE

B24 Saskatchewan www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

Farm & Acreages Specialist - Call for info www.SaskLand4Sale.com

GRAIN LAND INVESTMENT

OPPORTUNITIES25% DOWN BALANCE MORTGAGE (OAC)

Call today for your opportunity

Ed Bobiash Farm & Acreage Specialist

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

RE/MAX Saskatoon

Petrofka Bridge Orchard MLS® 410521 Beautiful acreage / progressive apple orchard 35 acres located on the North Saskatchewan River 55 kms north of Saskatoon. 1664 Sq Ft Bungalow, process-ing building, walkin freezer. $849,900

Sterling Development Land MLS® 417758 Excellent development opportunity only 5 km East of Saskatoon. Adjacent to land recently approved for multi parcel development. $899,000

White Fox Hotel

ANDY EVERTON Sales Agent1-306-921-9396 Colleen Ratcliffe 1-306-921-8637RE/MAX Keystone Realty1-306-752-8470

Melfort SK

85 seat beverage room• off sale• 25 seat covered deck• VLT’s• 2000 sq ft main fl oor living quarters• 5 guest rooms• 10 min drive from Nipawin, SK• Great area•

MLS® #419375

The UPS Store, downtown Saskatoon. Open for 3 years. $200,000

Retail store “Cool Collectibles” since 1998, owner selling for health reasons. Located in front of entrance of new Target Store in the Centre Mall on 8th Street East, Saskatoon, Sask. $75,000

A “Treats” franchise, just opened in new Student's Union food court on University of Saskatchewan Campus. Saskatoon $245,000

Hotel/Motel, Bar & Restaurant including real estate located in the town of Wilkie, Saskatchewan. Owner's wanting to retire. $495,000

235 Seat Restaurant and/or real estate located on the Main Street of the town of Kindersley

BUSINESS OPPORTUNITIES in Saskatchewan

R E / M A X G U A R D I A N C O M M E R C I A L - S A S K A T O O N306.665.4444

www.remax-guardiansk.ca Contact: Harley Greening t: 306.665.4445 e: [email protected]

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

HOMELIFE CRAWFORD REALTY

MOTELS - BONNEYVILLE, AB: Great Oil Town! 24 units + Manager's suite. Asking $1.2MMOTELS - COMING SOON! Call Us Today, SASK. WATCH FOR THEM HERE!3.25 ACRES - Industrial lot - $499,000 Motivated Seller!BUILDING IN REGINA, SK Corner Parks Dewdney 4000 SF free standing - $599,900WAREHOUSE/CONDO BAY - FOR SALE: New construction, Starting $295,500 - 1500 sq. ft. + 2 units sold – 2 leasesWANTED: Apartments Strip Malls, Hotels/Motels, Parking Lots. ALL LOCATIONS

PRAIRIE DEALS

www.DreamTeamSK.com

MENT

ICR Commercial Real Estateicrsaskatoon.com

-

LAND OR DEVELOPMENT SITE FOR SALENE18-17-20-2 EXT 1, Regina, SKLand Size: 41 Acres (Situated inside the city limits)Global Transportation HubAccess 1 mile from Dewdney Ave via Condie Rd Sale Price: $35,000 per acreContact: Linely Schaefer

WAREHOUSE BAYS WITH COMPOUND SPACE 1650 & 1676 Ebel Road, Weyburn, SK1680 SF - 2160 SF Bays - Can be combined Lease Rate: $14.00 per sq.ft. Sale Rate: $160.00 per sq.ft.Call: Jaimey Farnese & Ken Kreutzwieser

REGINA RESTAURANT FOR SALE2589 Quance Street, Regina, SK

Building Size: 2,758 sq.ft.Possession: ImmediateSale Price: $300,000 Contact: Beth Barber

ROSETOWN REAL ESTATE ONLY101 Main Street, Rosetown, SKLand Size: 11,700 sq.ft.Building Size: 5,809 sq.ft. Tenant pays $7,400/month grossSale Price: $595,000Contact: Brandon Ha or Josh Walchuk

“Saskatchewan’s largest commercial real estate company”

Call Now For Details

LINDA BOXALL306.536.1489

Website: www.lindaboxall.com

ADAM NIESNERREALTY (1991) LTD

ReginaCommercial Properties

OPA OF GREECE FRANCHISEGrasslands Mall in Harbour Landing. Open since Feb. 2011 $420,000

SNACK SHACK AT LUMSDEN 13 acres prime commercial land

plus thriving summer fast food take-out business. Turn-key. All equipment.

$765,000

SHERWOOD INDUSTRIAL PARKClose to Evraz Steel Plant. Phase 2

–industrial park – 4 acre lots

GLOBAL TRANSPORTATION HUBFuture development land located

around the Hub and on Pinkie Road.

WELL ESTABLISHED PROFITABLE

TRANSMISSION SHOP

FOR SALEIN REGINA

SASKATCHEWAN

CALL 306-539-2384

from B23partners with Regina to provide a construction rental incentive of up to $5,000 per new rental suite built.

NAI senior commercial agent Micky Schmidtz dismisses critics who say Regina developers are cowardly and points to the robust industrial sector as proof.

“Industrial is the blood and guts of real estate here,” said Schmidtz, who noted that specula-tive development is common, supply is tight and land prices are soaring.

The city, the largest owner of industrial land, is about to release its final 60 acres of indus-trial-zoned land. Five years ago industrial land was selling for $80,000 an acre. A year ago it was $230,000. The next batch is expected to fetch at least $350,000 per acre in 2012, NAI estimates.

With the city land drying up, industrial devel-opment will be on the privately owned land to the east of the city, where Melcor Holdings Ltd. is releasing lots, and to the giant Global Transportation Hub (GTH). Phase 1 construc-tion of a million-square-foot distribution cen-tre in the Hub, adjacent to the new Canadian Pacific intermodal facility, is complete with more than 425,000 square feet in use. Phase 2 is underway with an additional 565,000 square feet operational in 2012. Schmidtz points out that industrial action around the Balkan oil-fields – which extend into the U.S. – is help-

Population 210,000Average house price $279,000Class A office vacancy 0.8 per centResidential vacancy rate 0.6 per centGDP Ranking in Canada Fourth

ing to fuel the GTH and Regina’s industrial market.

According to the Conference Board ofCanada, Regina’s economy grew by morethan 5 per cent in 2011, second best in Canada.Growth will ease to 2.9 per cent in 2012, which still ranks Regina fourth among Canada’s majorcities. Strong employment growth is drawingmigrants to the city, the board said.

Said Schmidtz of the current Regina upturn.“This is no blip,” he said. “Regina is the newAlberta.”◆

✪

47

Swift Current REGINA

U.S.A.

33

ALB

ERTA

Weyburn

Moose Jaw

Frances

MA

NITO

BA

SASKATCHEWAN

Saskatoon

11

11

Subs

crib

e1

-80

0-6

61

-69

88

ww

w.w

este

rnin

ves

tor.

com

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com Saskatchewan/Manitoba B25

Century-21 Westman.comBrandon, MB

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

MOTEL: NEW, 90 ROOM MOTEL, FLAG, TRANS CANADA HIGHWAY. .........................................................................................................................................PRICE 7.9 MILLION

APARTMENT: 69 SUITES ONE AND TWO BEDROOM, ALL BUNGALOW STYLE, WITH INDOOR GARAGES, 55 PLUS CLIENTELE. .......................................................................................................................................PRICE: 6.8 MILLION

MOTEL: 14 ROOMS , LIVING QUARTERS, SALES $200,000. PLUS. .........................................................................................................................................PRICE $459,000.00

HOTEL: 45 MINUTES TO WINNIPEG, SALES 300,000 PLUS. .......................................................................................................................................PRICE $329,000.00

Please call:

GRANT [email protected]

2086 acres of deeded land east of Dauphin, near Ste. Rose. Great mixed farm with about 980 ready to crop. Balance in hay & pasture. 2 - 1/4’s leased land also available. Good home, sheds, bins & superb cattle facilities.

Westman.com

Manitoba Magnificence

North of Dauphin, cattle ranch with 1071 deeded & 2911 acres Crown lease. About 700 arable acres seeded to hay. Good fences, water & cattle facilities. Modern home & available now! Will carry 300 pair & more land available.

Opportunities in Manitoba’s Parkland Area$174,900

$460,000

$79,000

$790,000

Call for details

www.westparkgroup.com

For further information contact:

ART INGLEBY(306) 359-9799

See these properties and more on our website! www.avisonyoung.com

SASKATCHEWAN REAL ESTATE SOLUTIONS!Industrial Property For Lease

9,810 sq. ft. industrial space situated on 1.69 acre lot with excellent visibility from Ross Avenue. Steel frame building with showroom and work area. Warehouse contains four bay areas with 12’ & 14’ doors.

Bike shop wheels into the RockiesAfter 50 years of serving outdoor enthu-

siasts on the flat prairie, Gord’s Ski and Bike is expanding to the mountains.

After all, according to JF Ravenelle, its president and general manager, that’s where the bulk of its equipment is actually used.

“Many of our customers buy stuff from us in Winnipeg and go play with it elsewhere,” he said.

“Elsewhere,” in many cases, is the Rocky Mountains. So, Gord’s christened its third location, and first outside of Manitoba, in Banff last month.

Ravenelle knows he will have a built-in clientele in the 2,100-square-foot store in the ski resort town, what with thousands of Manitobans who head to Sunshine, Lake Louise and Mount Norquay for their skiing and snowboarding fixes every year. He’s opti-mistic many non-Manitobans will patronize the location, too.

The opening marks a remarkable turn-around for the business, which filed for bankruptcy protection under its previous owners in the fall of 2008. Ravenelle and a group of employees and customers bought the company out of receivership and re-opened it shortly after.

Joining him as a partner in the new venture is Stephen Strachan, who runs the Hardwear Company in Kenora, Ont. He will bring his expertise in paddle sports, such as kayaking and canoeing, to the Banff store.

Westoba expands to Winnipeg After nearly a half-century of build-

ing up its business in and around Brandon, Westoba Credit Union is ready for Winnipeg.

The sixth-largest credit union in the prov-ince is preparing to cut the ribbon on a new 4,200-square-foot branch on Portage Avenue and another one in a renovated Red Lobster restaurant on Pembina Highway.

Don Cataford, Westoba’s vice-president of business development for Winnipeg and the sur-rounding area, said the offspring of many of its mostly rural client base are increasingly moving to the big city but still want to maintain ties to their home financial institution.

Westoba just opened another branch in Onanole near Clear Lake, too. Cataford said the move was in response to a growing number of its members in the area north of Brandon who asked for a branch.

“It’s a very dynamic area. It’s very popu-lated from spring through to fall,” he said.

Although the vast majority of Winnipeggers associated Westoba with the western part of Manitoba, it staked out a beachhead in the capital in 2008 with a commercial centre. Its business was primarily in residential mort-gages and with industrial warehouses, motels and strip malls.

“We have quite a large piece of business in Winnipeg, between $140 million and $150 million. We look at this as expanding our presence in Winnipeg,” he said.

Popular eatery faces evictionWinnipeg’s new sports and entertain-

ment district (SHED) may be about to begin construction on more than $600 mil-lion worth of development, but one long-time institution may not be joining in the renaissance.

The Wagon Wheel Lunch restaurant, one of the city’s best-known eateries, particular among CFL football players, who have been known to pull up in the team bus before checking into their hotel so they can enjoy its trademark clubhouse sandwich, has been told it has to vacate the Norlyn Building by March. Its home since 1958 will be demolished soon after as part of the SHED project.

Franny Gomez, who took over the Wagon Wheel last year after the death of longtime owner Louis Mathez, said finding a new

Manitoba is poised to set an all-time annual record for building-permit

values after non-residential construc-tion permits soared 64 per cent in 2011, according to Statistics Canada. By November of last year the province post-ed the highest year-over-year increase in permit values in Canada.

The pace is being led, however, by gov-ernment projects, StatsCan notes, which marked a triple-digit increase in permit values through the first 11 months of last year.

Manitoba municipalities issued $214 million worth of residential and non-residential permits during November. That was a 46.1 per cent improvement over November 2010’s total of $146.5 million, and up 17.4 per cent over October 2011’s $182.3 million.

It was also the fourth consecutive month of rising permit values for the province, and it boosted the permit total for the first 11 months of 2011 to just over $1.73 billion, only $20 million below the record of $1.75 billion set in 2010.

Non-residential values jumped 23.5 per cent from October to November and 63.9 per cent from November of 2010.

Residential-permit values were up 12.3 per cent from October to November and 32.9 per cent year-over-year.

On the non-residential side, a 486 per cent jump in permit values for institutional projects was partially offset by an 87.5 per cent drop for industrial projects and essentially no change in commercial-permit values.

New terminal at Richardson International Airport among the top government proj-ects in Manitoba.

Phot

o: J

ames

Arm

stro

ng R

icha

rdso

n In

tl.

location will be expensive and she’s unsure whether she can afford to keep the lunch counter running.

“I’m still undecided. Do I continue or do I just quit? I know [potential sites] out there are expensive. It’s very hard to afford to move somewhere else. I’ve been shopping around but I haven’t found anything yet,” she said.

“It’s a possibility that we could shut down.”Such news would undoubtedly set off a

lengthy mourning period in Winnipeg, where the Wagon Wheel clubhouse is a big a piece of the city’s culinary history.

Ross McGowan, president and CEO of CentreVenture, the downtown Winnipeg development agency spearheading the SHED, said he’s doing everything he can to make sure the clubhouse survives, including lending a hand with the Wagon Wheel’s rent or move. “We don’t want to see them harmed,” he said.

Pizza Pizza links with JetsA Toronto-based pizza chain thinks its

sponsorship of the Winnipeg Jets will be a real game-changer.

Pizza Pizza recently opened its fifth res-taurant in Winnipeg but Pat Finelli, the com-pany’s chief marketing officer, said he plans to open another 10 by the end of the year.

In addition to concession sites within the MTS Centre, Pizza Pizza sponsors the “lucky row” in every Jets home game and delivers free pizza to fans in a random row.

“Hopefully, people will remember that they had our pizza at the games and they’ll get it delivered to their houses,” he said.◆

– Compiled by Geoff Kirbyson

B26 www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

would be a sure sign that Dauphin’s popula-tion was going through the roof, but that’s not the case, Irwin said.

“There are fewer people per house these days. People don’t have six kids anymore,” he said.

There are another 2,500 people in the nearby municipality, while Dauphin services an area of nearly 10 times that many.

There is no shortage of amenities. There’s a regional hospital, which has proven adept at attracting doctors from far and wide, all five major banks are represented and the RCMPhas a detachment with 40 officers.

For those who want to be active, there’s an indoor track around the Credit Union Place

he mayor of Dauphin isn’t going to sit idly by with an endangered spe-cies in his midst.

OK, so no animals are about to become extinct near the western Manitoba town but finding a place to live within its boundaries is virtually impossible. That won’t be the case for long, however, if Eric Irwin has anything to say about it.

Irwin and city council have come up with a housing plan that provides a $1,000-per-door subsidy for builders of apartments or houses.

It has also submitted proposals with the pro-vincial government for financial aid to con-struct low-income and seniors’ housing.

“If there’s a program out there, we try to get something in for it,” he said. “We’re pretty much tapped out for housing around here.”

The average house in Dauphin is a 1,050-square-foot three-bedroom bungalow with a garage that sells for $145,000.

That’s up between 5 and 8 per cent from a year ago, according to Chris Carefoot, the

broker/owner of Re/Max of Dauphin. She said the price hike has been driven by zero vacancy, a shortage of new house construction and a stable local economy.

She said she expects the housing demand will remain strong as none of the mitigating factors are showing any signs of reversing any time soon.

“Once people get here they love it,” she said. “We’re one of the few communities that has that French immersion, Ukrainian immersion and English. Both the French and Ukrainian programs have their own schools.”

Indeed, more than one-quarter of Dauphin’s 8,000 residents can speak Ukrainian.

You’d think the strong housing demand

SPOTLIGHT Dauphin dangles cash incentive to battle housing shortage as rental vacancy drops to zero

GEOFF KIRBYSON

WESTERN INVESTOR

arena and a pair of golf courses on either side oftown. As well, the town is planning an $800,000 upgrade to Vermillion Park, a popular camping destination, including a new splash park.

Plans are also in the works to start construc-tion on a skateboard park this summer, a jointly funded project with the province.

The biggest attraction is unquestionably Dauphin’s Countryfest, Canada’s longest-running country music festival. Every July long weekend it attracts 14,000 people, who generate an economic impact of $9.8 million for the region.

“It’s much larger than most city-basedevents. It has a huge impact,” Irwin said. Afurther influx of tourists – and their wallets –is expected when Dauphin hosts the provincial curling championships in February.

Countryfest donated $400,000 a couple ofyears ago to help build a new four-screen movie multiplex after the old “one-horse” movie the-atre burned down. The new $5 million facilityopened up last year.

“When movies open in Toronto or Winnipeg,they open in Dauphin the same day.” Irwin said. The mayor is confident that Dauphin willincreasingly be seen as a place to live, work and play by people of all ages.

“If we can make sure the amenities that peo-ple expect are here, they will come.”◆

Dauphin hosts the provincial curling championships this month.

Phot

o: C

ity

of D

auph

in Population 8,000Trading area 20,000Average house price $145,000Major employers Dauphin Regional Health Centre, Norwex Enviro ProductsPotential Retail growth, regional servicesWeb page www.dauphin.ca

Existing Franchise Available – Surrey, B.C.

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 222abc Country Restaurants Inc.15373 Fraser Hwy.Surrey, BC V3R 3P3email: [email protected]

www.westerninvestor.com • 1-800-661-6988

FRANK O'BRIEN Editor

Please forward this information directly to

Frank O’Brien, Western Investor Editor at

[email protected].

Please send us the following information:

editorial feature will highlight deal fl ow in Western Canada.

DONE DEALS

· Commercial lots ½ mile from City of Winnipeg· Hwy# 1 exposure· Serviced with sewer, water & gas· No business tax here· 1 ½ acre lots starting at $235,000· Restaurant pad site available beside Motel 6

Call Bob 204.392.9968

City Benefits With Lower Taxes LIST

1-800-661-6988

Top commercial realtors from across Western Canada market their list-ings through the Western Investor.

WESTERN INVESTOR FEBRUARY 2012 www.westerninvestor.com Franchises B27

f

A–

f

,

CONNIE WOLBAUMFRANCHISE DEVELOPMENT MANAGER AB/SK

Phone: 306-949-7889 Email: [email protected]

CHRIS FALLEDIRECTOR OF FRANCHISE DEVELOPMENT BC/MB

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:

CONTACT ROBERT SKINNER:

[email protected] www.cap-it.com

Clancy’s Meat Co. opens in OntarioBritish Columbia-based Clancy’s Meat

Co. is entering the Ontario market with its first store in London. The new store is owned by London native Mark Edmudndson, a former professional hockey player and financial adviser.

Clancy’s Meat offers a wide range of high-quality fresh and frozen meats and prepared meals. “We have fresh foods that distinguish us from some competitors and single servings if you don’t want the big boxes,” Edmundson told the London Free Press.

Since its founding in 1997, Clancy’s Meat Co. has grown to eight locations in B.C. and two in Alberta. Brian Davy, one of M&M Meat Shops’ first franchisees, leads its expan-sion into Ontario. Davy was named Clancy’s vice-president of franchise development in March 2011, in charge of franchisee recruit-ment and site selection for all new stores in Ontario.

The Surrey company prides itself on using only the freshest ingredients across its menu – including local B.C. produce, selected organic meat products and certified Angus beef. A Clancy’s turnkey franchise costs from $372,000 to $410,000 and takes between six to 12 months from application to opening.

Wok Box starts serving the StatesThe Edmonton-founded Wok Box fran-

chise is expanding into the United States with the signing of its first franchise agreements in Arizona and Oregon. Its new Asian quick-service stores will open in the first quarter of 2012.

News, views and updates on Canada’s franchise industryEye-catching work wear has helped a home

improvement franchise capture a solid market share and an expansion into Vancouver Island this month, with Alberta on the radar. Vancouver-based Men In Kilts, a full-service window and exterior cleaning franchise, prides itself in high-quality work with a tongue-in-cheek attitude. All the employees wear – you guessed it – Scottish kilts. Usually only seen on men playing bagpipes or the occasional Halloween party, these workers can be ogled climbing ladders to get at the gutters, windows and sidings of residential and corporate buildings.

The theory behind the head-tilting kilt? The kilt is memorable, recognizable, worn by the employees and is sure to get a few stares from females and anyone else passing by a worksite.

According to CEO and franchising professional Tressa Wood (credited with helping propel 1-800-GOT-JUNK? from growing from $15 million to more than $130 million in revenue), it is this differential approach that is garnering Men In Kilts such phenomenal interest in the brand and the business model.

“Nowadays, we are so inundated with marketing and advertising that in order get our attention it is critical to be bold and think outside the box,” said Wood. “Having an eye-catching brand takes the complexity out of marketing and generates organic interest and excitement.”

The franchises are currently in a phase of hyper-growth, with their focus on the western territories. Men In Kilts currently operates with a Vancouver franchise, a Fraser Valley fran-chise, one in Seattle and one set to open in Victoria this month (February). Prime targets for further expansion include Calgary, Edmonton and Portland, Oregon.

The initial investment to start a Men In Kilts franchise can begin at $49,000 and goes up to $104, 000 depending on the territory and needs. Men In Kilts provides full training, marketing and PR, customer support and access to KiltNet – a custom-developed web-based scheduling, dispatching, crew tracking and reporting system.

Phot

o: M

en I

n Ki

lts

Men In Kilts has proven to be an eye-catching franchise brand.

Together with corporate chef Don Letendre the team at Wok Box continues to develop its seasonal menu at the company’s test kitchen in Surrey, B.C., in order to bring combinations of Asian dishes to customers.

In Canada, Wok Box is the only Asian quick-service restaurant whose menu includes items that meet the nutrient crite-ria for the Heart and Stroke Foundation’s Health Check program, Letendre said.

Wok Box has been tremendously success-ful in expanding the franchise across the country. Founded in 2004, Wok Box recently opened its 65th store in Canada. Its opera-tions centre and head office are now located in Surrey.

“The strong track record we’ve established in Canada has given us the catalyst we needed to start opening stores in select U.S. markets,” said Lawrence Eade, Wok Box CFO. “This is just the beginning of what we’re expecting to be a rapid expansion into inter-national markets.”

Under a franchise recruitment program developed with Franchise Development Northwest, Wok Box is scheduled to open locations in Oregon, Washington state, Texas and Colorado, with other outlets planned.

The cost for a Wok Box franchise requires a total investment of from $350,000 to $425,000, including an initial franchise fee of $25,000. There is a 6 per cent royalty fee and a 3 per cent advertising fee.

Subway locks lead in fast food Subway Restaurants opened more than

2,100 locations in 2011, adding a total of 21,000 jobs globally. With more than 35,800 franchised locations, Subway has now become the world’s largest restaurant chain in terms of number of locations.

McDonald’s, which had held the title of world’s largest chain since the early 1970s, remains the sales leader, reporting $24 billion in revenue last year. Subway reported $15.2 billion in revenue in 2010.

According to the Wall Street Journal, Subway actually surpassed the number of McDonald’s in the U.S. about nine years ago. The sandwich chain expects China to eventually become one of its largest markets. It has 199 restaurants in China now, but expects to have more than 500 by 2015.

Subway’s 2011 openings included 1,000

new locations in the U.S. and Canada alone. A big part of the chain’s growth came from non-traditional spaces such as convenience stores, department stores, train stations, museums, hotel lobbies and movie theaters.

This year marked the company’s 8,000th nontraditional opening. Subway now operates in 98 countries.

The total investment required for a Subway franchise ranges from $83,000 to around $260,000, including a $15,000 initial fran-chise fee for a 20-year agreement. There is also a royalty fee of 8 per cent.◆

– Compiled by Kevan O’Brien

Call Christine at the

marketing your franchise?

1-800-661-6988 (604) [email protected]

Get the .

With connections in more than 85 countries worldwide put the power of the RE/MAX brand to work for your commercial, industrial, agricultural, investment or international real estate needs.

practitioner near you, visit

B28 www.westerninvestor.com FEBRUARY 2012 WESTERN INVESTOR

Western Investor February 2012 Section B

Documents

anyupgradescompl price

li price

onedindustrialre price

business onlylist price

personal real estate

s s u e

tilley road

meric weber