Western Investor July 2011 Section B

7 KELOWNA’SCALM RECOVERYBuyers return as prices drop and economy firms

$ 4 . 2 9 J U L Y 2 0 1 1 V o l . 2 6 / I s s u e 7INTERIOR B.C. • ALBERTA • SASKATCHEWAN • MANITOBA SECTION

26 CHURCHILL FEARS FREEZEOttawa’s move on grain monopoly could stifle northern port exports

27 WEST LIGHTS TARGET’S RADAR Giant U.S. retailer plans 34 new stores from the West Coast to Manitoba

Phot

o: J

udy

Gray

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Patricia Cecconi, market-ing director of La Casa Resort: best value on lakeview homes in years

PUBLICATIONS MAIL AGREEMENT 40069240

RETURN UNDELIVERABLE CANADIAN ADDRESSES TO CIRCULATION DEPARTMENT:

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

Calgary Office#1, 6204 - 6A Street SE, Calgary, AB T2H 2B7 • Phone: (403) 214-2344 FAX: (403) 214-0244

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

FOR SALE/LEASE• 1499 - 17 Avenue SW CalgarySize - 2,444 sq. ft.

Asking Price - $1,000,000. Lease Rate - $26.00 p.s.f.

Shane OlinTel: (403) 708-9086

[email protected]

Wing TangTel: (403) 291-8872

[email protected]

Daniel GoldstromTel: (403) 809-8326

[email protected]

INVESTMENT SALEFoothills Industrial Calgary

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

www.naicalgary.com

FOR SALE/LEASE97 Prairie Place SE, Calgary

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


[email protected]

Daniel GoldstromTel: (403) 809-8326

[email protected]

BUSINESSES FOR SALEFLOOR COVERINGS - CALGARY AREAEstablished more than 20+ years. Stable staff, long term customers. 2010 Revenue over $5M. EBITDA $460K (2010). $1,375,000 with normalized working cap.HVAC MANUFACTURER - ALBERTA2011 revenue est. $4.2M and profitable. Custom air handling manufacturer. In business over 20 years. Direct and indirect fired air. $2.4M Vendor loan considered.PAVING BUSINESS - PRINCE GEORGE2010 revenue $1.1M (up 20%). 2011 busier. 2010 EBITDA $236K after owner wage. Batch Plant and 2 gravel pits - lots of equipment. $829,000 plus working capital.

For a List of All Businesses Call:Craig Tennock

Tel: [email protected]

OWN YOUR OWN MOTELExcellent Opportunity to Manage your way to Ownership. This is a serious opportunity located in the Kootenays, BC. Newer motel of 48 rooms with potential for expansion. Popular brand (flag), Pool and pool amenities.**Price is under $5 million and...

**OWNER WILL FINANCE**

LIVE AND WORK IN YOUR OWN BUSINESSFOR THE PRICE OF A DECENT CALGARY HOUSE!

$550,000 - $750,000 can get you into the motel business. Small Town Southern Alberta. Live and work on premises with a great income. These are very nice properties!

Contact: Jim BalfourTel: (403) 291-8860

[email protected]

Contact: Tim AndersonTel: (403) 291-8866

[email protected][email protected]

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

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


[email protected]

Deb WallaceTel: (403) 291-8862

[email protected]

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


[email protected]

Deb WallaceTel: (403) 291-8862

[email protected]

Jim CourtneyTel: (403) 291-8873

[email protected]

FOR SALE - LAND & BUILDING3405 - 32nd Avenue NE, Calgary, AB

• Site: 1.21 +/- acres• Building: 14,900 +/- sq. ft.

Offers Showroom, Offices, Shop and Warehouse, Large Fenced Paved Yard - $2,800,000

Jim CourtneyTel: (403) 291-8873

[email protected]

GRANITE & CABINET BUSINESS• Turn Key Operation• Showrooms, Office and Shop• Fixtures & Equipment• Located in major city in western Canada• Land and Building may be available

R E C R E A T I O N A L R E A L E S T A T ER E CR E CE C R E AR E AR E A T I OT I OI N A LLN A LN A L R ER ER E A LA LA LA L E S TE S TE S T A T EA TA T EA T EHOT PROPERTIESSPECIAL SECTION • B11

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

Colliers InternationalCentre GroupCommercial RealtyKelowna, B.C.250.763.2300

www.colliers.com/kelowna

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

ORCHARD MOBILE HOME PARK

List Price: $9,500,000 (Asset Sale) or $9,270,000 (Share Sale)

JEFF HUDSON (Personal Real Estate Corp)

MARSHALL MCANERNEY (Personal Real Estate Corp)

List Price: $1,080,556MARSHALL MCANERNEY (Personal Real Estate Corp)

CHAD BIAFORE

INDUSTRIAL STRATA - KELOWNA1370 LAWRENCE AVE, KELOWNA

List Price: $1,100,000CHAD BIAFORE / JACK SHABBITS

996 LAVAL CRESCENT, KAMLOOPS

List Price: $1,895,000LARRY GOOD (Kamloops)

COMMERCIAL LOTS - MERRITT

LARRY GOOD (Kamloops)

PRINCETON INDUSTRIAL ESTATESMERRITT – RETAIL CENTRE

Call broker for pricingMIKE GEDDES

$3,280,000

131 ELLIS STREET, PENTICTON

List Price: $769,000MEGHAN O’MARA, DipIT of Real Estate

$3,600,000

INCOME PRODUCING

JEFF HUDSON* (Personal Real Estate Corp)

MARSHALL MCANERNEY* (Personal Real Estate Corp) MARSHALL MCANERNEY* (Personal Real Estate Corp)

EAST KOOTENAY AREA

$1,200,000

NORTH OKANAGAN MHP

$999,000

BARRIERE, B.C.

$695,000

SOUTH OKANAGAN

$1,250,000

SHUSWAP PUB & GRILL

$595,000

COLUMBIA VALLEY

$1,690,000

KELOWNA PUB

$525,000

RECENTLY REDUCEDBLAIRMORE, AB

Was $ 795,000 Now $ 749,000

GRAND FORKS – 25 UNIT CEMENT BLOCK BUILDING

Was $ 599,000 Now $ 579,000

PENTICTON

$3,198,000

REVELSTOKE

$3,495,000

HOUSTON, B.C.

$1,700,000 & $1,500,000or $2,950,000 for both

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

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

Syd Berisoff Agent/Broker

[email protected]

Larry Berisoff Associate Broker

[email protected]

Wes McInnes Sales Associate

[email protected]

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

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

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

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

Syd Berisoff Agent/Broker

[email protected]

Larry BerisoffAssociate Broker

[email protected]

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

HIGH TRAFFIC – HIGH DEMAND – GORGEOUS MODERN BUILDING

+/- 1,480 square feet. This unit has all the leaseholds in place to bring in your turnkey operation with retail space, reception, offices, overhead loading door and a warehouse area in the rear of the unit. For Lease: $2,343 per month + NNN + HST MLS®

DOWNTOWN KELOWNA – COMMERCIAL STRATAS AVAILABLEThis is an opportunity to own your own commercial strata unit in the downtown core ranging in sizes from approx. 838 - 2,194 square feet. One block away from city hall and two from the law courts.Available For Sale: $251,550 - $668,264 MLS®

LAKE COUNTRY COMMERCIAL & RESIDENTIAL MIXED DEVELOPMENT LAND

Hotel, Commercial, and Residential LandsFASHIONABLE DOWNTOWN CORE

A +/- 2.93 Acres for $4,399,000 + HST

B +/- 0.90 Acres for $1,000,000 + HST

C +/- 2.67 Acres for $2,999,000 + HST

SERVICED & READY TO BUILD ALL 6.5 ACRES FOR $6,999,999 + HST

FORMER CIBC BRANCH LAND & BUILDING

Subject property is located in an area which is increasingly being re-developed into an upscale commercial area. The lands are fee simple with 13 parking spaces on the property. The 6,337 sq ft is broken down with 4,362 sq. ft. on the main floor and 1,975 on the second. Asking: $1,595,000 + HST MLS®

SUCCESSFUL FRANCHISE LOCATION AVAILABLE

Solid franchise opportunity with one of the best names in the glass business. With an already proven business model they will train, coach and assist you through the whole process.Available: $199,000 MLS®

SMALLER INDUSTRIAL UNIT GREAT LOCATION

872 +/- sq. ft. corner location with visibility from Rutland Road. Zoned Industrial I1. Lots of light, large tinted windows. Exclusive loading door. Easy access to Highway 97N with the airport 10 minutes away. Asking $799.33 per month + NNN + HST MLS®

IMPROVED OFFICE SPACE – HIGH TRAFFIC – CENTRAL LOCATION

1,429 +/- square feet. Fully improved office space ready to go. This unit has multiple offices, boardroom, reception area and a three piece washroom. Even the furniture is negotiable! Asking $1,190.33 per month + NNN + HST MLS®

UPDATED OFFICE STRATA UNIT AVAILABLE

Approx. 1,163 square feet of improved office space available for purchase. This unit is conveniently located just off of Highway 33 in the Rutland area.Asking $268,000 + HST MLS®

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

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14–23

22–26

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HOT PROPERTIESFEATURES7 Okanagan’s biggest city sees economy gathering steam Download a PDF of all our Regional Roundups online at www.westerninvestor.com

12 Most agree it’s good investment as vacation deals abound

17 Spec developers back in action as tenants scout for space

26 Move to end grain monopoly could hammer port

COLUMNS21 24 27

On the coverPatricia Cecconi of La Casa Resort, Kelowna: lakeview cottage prices now at the lowest level in years.Photo: La Casa Resort


KAMLOOPS, BC & AREAClearwater, BC – Mobile Home Park land. 15 acres plus 2.7 acres commercial, fronts on highway. Super buy ! $289,000

Kamloops – 4000 sq ft building ½ acre lot, commercial mix. High traffic area

$788,000 or lease @ $12.00 triple net

Clearwater, BC – Chinese restaurant land, building, ¼ acre lot, equipment, liquor license, 4 bedroom suite. $289,000

Barriere, BC – 5 unit mini mall plus full basement, hwy frontage, plus vacant lot to expand $399,900

Louis Creek, BC – 2.49 acres creekside parcel. 9yr old 1600 sq ft rancher with suite, plus 6 rental pads for park model homes. Most tenants away for winter. Plus extra large 30’ x 50’ detached shop – fits a motor home. $795,000

Chase, BC – Pub liquor store, restaurant on main floor. 14 rooms on 2nd floor which need substan-tial work reflected in price. Super buy $600,000

Kamloops– New office retail building to be built. 3414 sq ft ideal professional office in busy resi-dential sub div. $2668 plus triple net lease

Clearwater, BC – Former school 11,000 sq fit with full gym 22 ft ceilings, make great church, school hall or? All on 6 acres. $399,000

Kamloops – INVESTORS – 8% Cap rate restau-rant. Fronting E Trans Canada Hwy. Leased out. $8,000/mo triple net. $1,200,000

Kamloops – Busy city centre 180-seat restaurant. Owner wants to retire. $500,000 for business or $1,700,000 for business, building & land

Call MARVIN [email protected]

www.realestatekamloops.ca

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.

2.13 ACRE DEVELOPMENT SITE

Asking Price $695,000

21.8 ACRES – PRIME HOLDING PROPERTY

Asking Price $2,400,000

LAND – OSOYOOS

TWO NORTH OKANAGAN SELF STORAGE FACILITIES

MOBILE HOME PARK – MERRITT

D

Asking Price $1,595,000

Asking Price $6,750,000 Asking Price $4,995,000

FORECLOSURE SALE – $200,000 PRICE REDUCTION!INDUSTRIAL BUILDING – SUMMERLAND

B

NEW Asking Price $1,650,000

PREMIUM STORAGE YOU OWN! GARAGETOWN VERNONGarage/condo complex offers 47 fully customizable storage units. 20x48, 24x48 and larger w/ 14 & 16’ overhead doors plus ultra convenient 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®

ONCE IN A LIFE -TIME OKANAGAN LAKESHORE ESTATE!Just imagine - your private piece of paradise - 22.5 untouched acres with 1750 ft of pristine Okanagan Lake waterfront! Exhilarating views! Several excellent building sites. The best of the Okanagan - barely 15 minutes from the City of Vernon $4,900,000 MLS®

ONE OF A KIND – LARGEST PRIVATE WATERFRONT PROPERTY ON KALAMALKA LAKE Two titles. 2.54 ultra private acres with 254’ easy-swimming lakeshore. Adjacent to Kalamalka Provincial Park. Amazing home offers 7 bedrooms w/ private baths PLUS a stratified two bedroom suite. Fabulous grounds with spectacular views, pristine lakeshore, waterfront dock and wharf! Barely 10 minutes from downtown Vernon and 30 minutes from the Kelowna international airport. $4,900,000 MLS®

TRANSCANADA HIGHWAY FRONTAGE1.8 acres with 500’ frontage. Previously operated as Gas station, store, restaurant, launderette. Includes rental suite and 5 unit mobile home park. Main stroe built in 2003/ Sold As is Where is. Opportunity! $515,000 MLS®

NURSERY/HORSE SET-UPIn heart of Coldstream Valley! Turn key operation! Steady Growth! Equipment, automated greenhouse, vehicles, comfortable home with suite, office. 20 prime irrigated acres w/ set upfor horses. $1,600,000 MLS®

FORMER PACKING HOUSE OFFERS 38,000 SQ.FT.Warehouse can be cooled or heated. Of street semi-trailer, staff parking. Extremely solid. Zoning supports brewing/distilling, commercial, retail, care center, apartment and more. Downtown location. $1,949,000 MLS®

4.62 ACRES INDUSTRIAL LAND W/BUILDINGS 40,000 sq.ft. in two bldgs. 3 phase power. I2 zoning. Railway Trackage. Currently operates as small sawmill & wood re-manufacturing plant. 10 mins from Vernon adjacent to ready supply of dimensional lumber. $2,250,000 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! $688,000 MLS®

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

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 + DEN: $529,000

OSOYOOS10 INCOME PRODUCING

LAKEFRONT RV LOTS

$1,250,000 + HST

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

604-592-7250Financing Available. Potential Trades.

FOR SALE

PENTICTONLAKEFRONT PENTHOUSE

AMAZING VIEWS OF OKANAGAN LAKEAVAILABLE IMMEDIATELY

2 BDRM + DEN: $1,599,000

Founded in 1967, this very successful and well known company manufactures and distributes several lines of outdoor products to residential, commercial and industrial clients.

Aside from its own retail operations, the company also supplies a growing national network of 16 dealers.

Having established itself as a market leader, and having established strategic business alliances, the company is well positioned for further rapid growth.

Our production facility is based in the Beautiful Okanagan Valley of British Columbia.We have a staff of 11 to 14 well-trained dedicated employees, that ensure the quality of our products and the smooth operation of our facility

The company provides great returns on investment/cash flow, and unlimited profits with the continued expansion of product lines and dealers.

Asking price: $1,450,000

LIGHT MANUFACTURING AND DISTRIBUTION COMPANY

FOR SALE

For more information please contact Kevin at: [email protected] or call 250-826-6040

Confidentiality Agreement Required

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

1ST TRAIL REAL ESTATE LTD.

(250) 231-5222 (CELL)

(250) 368-5508 (FAX)

COLDWELL BANKER COMMERCIAL WORLDWIDE

www.cbcworldwide.com www.coldwellbankertrail.com

QUALITY INN 48 ROOMS RESTAURANT AND MEETING ROOMS.

STRATEGICALLY LOCATED ON HIGHWAY 3 AT THE ENTRANCE TO THE

WEST KOOTENAYS IN CASTLEGAR

$2,495,000

HOTEL, LIQUOR STORE, RESTAURANT $699,000

DEVELOPMENT PROPERTY NOW REDUCED $575,000

LARGE CONSTRUCTION PROJECTS UNDERWAY IN OUR AREA

LIQUOR STORE & RESTAURANT PUB

16 Newly Finished Rooms Extensive Fire updates, New Sprinkler System

Vendor May Finance

$1,490,000

BLOCK MOTELNINE UNIT & MOBILE HOME

REDUCED TO $695,000

INTERNATIONAL SCHOOLOVER 50,000 SQ. FT. PROPERTY

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

$799,000

18,000 SQ. FT. DISTRIBUTION OR

MANUFACTURING CENTRE NICELY LOCATED WITH ADEQUATE PARKING AND FENCED STORAGE

AREA $750,000

FORMER GROCERY STORE WITH APARTMENT

PRIME DOWNTOWN LOCATION $114,900

COURT ORDER SALE

7 Acres of Developable land at theentrance to Red Mountain Ski Resort

4000 sq. ft. Body Shop well equipped, plus 3 Bay former Auto Body Service Centre. 600 Ft of Highway Frontage

DAVID JUROME 250-862-1888

[email protected]

KELOWNA & OKANAGAN

ACREAGES FOR SALE

w w w . d a v i d j u r o m e . c o m

DWIGHT VOSphone: (250) 554-4511

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

email: [email protected]

BUSINESS AND INVESTMENT OPPORTUNITIES

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

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

Interior 162 Acres Deluxe Residence - Club House etc. Offers to

– 2 Tenants – 8.5% Cap $450,000

– 3 Tenants – Well Established $299,000

– Future Highrise expansion

– Hwy Frontage – Secure Yard

COMMERCIAL BUILDINGS

BUSINESS LOANS & MORTGAGES

Taylor Capital Inc.

R.N. (Ron) Palmer CIM

Phone (250) 446-2868Email: [email protected]

www.ronaldpalmer.com

A no obligation assessment is just a call away.

Proudly arranging financing for B.C. businesses since 1998

Prime WaterfrontSouth Okanagan

7 ACRES LAKEFRONTFull municipal services

Adjacent to a golf course with 450 condo units and a hotel currently

under development $280,000 annual income

Hold for investment or develop to your plans on your schedule

$ 4,350,000

E-Mail: [email protected]

[email protected]

BERNARD DESCHENES

MERRITT

WESTWIN REALTYTEL: 250 314 4530

NICOLA VALLEY INVEST in a booming community!

A great opportunity to purchase 7 fully rented 3 bedroom, 2 bathroom townhouses, located in the downtown area close to shopping. Under $100.000 per unit. This development has had recent upgrades including: new windows, new roof, new fencing. Buyers to receive & read de-velopment disclosure. Information package on future confi rmed Industries available. $653,000 Call L.B. for details.

14 apartment condominiums to be built to complete the 38-unit Valley Vista on a two-acre sloping property. Excellent view of Shuswap Lake from one side, forest on the other. One-bedroom, 600 sq. ft., two four-plexes and a six-plex. Some suites are level entry. Can be rented. Quiet pets welcome. Modulars built by SRI Homes in Kelowna. Foundations are ready and waiting for the two four-plexes. All services and driveways are in.

SALMON ARM, B.C.

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


Each office is independently owned and operated.

Each office is independently owned and operated.

For Information, contact

JOE UNGARO 250 317-1819 [email protected]

TERRY ALBRECHT 250 862-6554 [email protected] www.RealEstateKelownaBC.com

COURT ORDERED SALE: Merganser Bay Resort at Sugar Lake

Waterfront resort with 47 remaining of 67 recreational properties. A lodge w/4 rental suites & caretakers residence. 5.98 acres of land plus 2.5 acres for future marina. Zoned C5 Recreational Commercial. A unique development opportunity for continued rental income and resale of lots, as undivided inter-ests. 22 cabin lots, 33 RV lots, 11 Park Model lots and one lot for the main lodge and common areas. Recently serviced lots with an elaborate on-site sewage system. Attractive terms available. Asking $2,950,000 subject to court approval. MLS 10027799

KELOWNA – UNGARO ALBRECHT

FOR LEASERETAIL OFFICE SPACE

CRESTON PLACE HOLDINGS LTD.PH: 250-428-9445 250-428-5786

1-877-428-9445

DOWNTOWN CRESTON1230 CANYON STREET

READY FOR OCCUPANCY 2011

Leasable Space in a Brand New Building Located in Downtown Creston

CRESTON, BC

Okanagan Investment

Call John Brkich, 250-542-8844

Go towww.OKhomesellers.com

to view Listing # 26641Asking $479,900

1.78 acres with an 11,750 sf commer-cial building. Very well maintained, quality building just a few minutes south of Nelson. Easy Highway ac-cess. Good exposure for a destination business. Current, successful use is a retail Furniture store. This fl exible building design allows for multiple retail and/or manufacturing uses. Continue to use it to house one business, or turn the space into a multiple commercial lo-cation. Very spacious parking lot & a very spacious building with a mezzanine, warehouse and showroom. Enjoyable Cottonwood creek side. Many recent upgrades includes a new roof mem-brane in 2006, 2 new high effi ciency gas furnaces, & a new septic tank and fi eld. Call David Gentles @ 1-888-534-8225

N E L S O N B . C . COMMERCIAL LAND & BUILDING $749,000.00

DAVID GENTLES Cell 250-354-8225www.nelsonproperties.ca

To view listings go to :

$224,000

PROFITABLE RESTAURANTBUSINESS & LAND

STEVE MERKAL 1-800-226-8693RE/MAX Colonial Pacifi c Realty

CLINTON B.C.

Escape to small town BC and low cost living in this turn key operation

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

Garth Lord, [email protected] RE/MAX Shuswap

Personal Real Estate Corp.www.shuswaphomesearch.com

CAPTAIN’S CORNER MARINE SALES – Salmon Arm $390,000Golden opportunity to own a highly successful Marine Sales & Service business in beautiful downtown Salmon Arm. Excellent rent with a highly visible location and existing signage with long term clientele base. Indoor showroom, engine shop & rigging bay with hoists & gantries. Fenced and secure compound, agreements with boat manufacturers in place for sole distribution rights. Current lines handled - Lund,

Ducksworth, Merc, Evinrude, Susuki, Hummingbird, Minn Kota, Roswell Towers and more. This price does not include Goodwill. This business is well established and has an excellent reputation in the area. Owners willing to train. Mechanics are fully certifi ed on IB/OB & jet. Seller is open for offers on this thriving business. Enjoy a lifestyle with income!

HIGH TRAFFIC COMMERCIAL BUILDING - Sicamous, BC $769,000Highly visible commercial, 6970 sq ft multi-unit building located on the Trans Can Hwy in Sicamous. Currently leased with 3 tenants and a 1440 sq ft residential unit above. Large 0.61 acre lot with paved parking, sewer to the lot & 3 phase power. New roof installed in 2010 (tar & gravel). Building can be demised to accommodate various tenants. Constructed of concrete blocks in mid 1980's and zoned C-2

- Highway Tourist Commercial. Canopy over concrete sidewalks.

Subs

cribe

www.westerninvestor.com

CALL NOW 1-800-661-6988

Attention

Agents:

REACHQUALIFIED

BUYERSFOR YOURLISTINGS

call Gary Takahashitoll-free: 1-800-661-6988

tel: (604) 669-8500 or fax: (604) 669-2154

[email protected]

WESTERN INVESTOR JULY 2011 www.westerninvestor.com B7

COVER B.C.’ s third-largest city is now seeing the real estate recovery that locals calmly expected all along

Please see Leases page B8

FRANK O’BRIEN

WESTERN INVESTOR

he 2008-09 recession that quaked B.C.’s central Okanagan did dam-age in its largest city but left confi-

dent Kelowna stirred but not shaken.Now, with even chartered accountants get-

ting excited about the recovery, the city of near-ly 100,000 is calmly getting ready to reclaim its standing as one of the hottest real estate and investment markets in Western Canada.

Compelling evidence is seen right on down-town Kelowna’s South Pandosy Street, where seven buildings were taken down for the con-struction of the $25 million mixed-use SoPa project by local developer Edgar Fenwick.

SoPa, which started in the midst of the down-turn, has already leased out all of its block-long ground-floor retail, which will open in 2013. Above the retail are 96 residential condomini-ums capped by large luxury penthouses, priced from $1.2 million to $1.3 million.

“It was the best penthouses, the lakeview ones, that sold first,” said sales agent Kayli Andersen. Only three of the eight penthouses remain unsold, yet SoPa’s residential compo-nent won’t complete for four years.

Tellingly, the buyers aren’t Albertans or cash-heavy Vancouverites. It is Kelowna residents who have bought all the penthouse units and most of the other condos. The SoPa also offers one-bedroom condos priced from $351,000, or an average of $600 per square foot, close to what condo buyers are paying in Calgary and Metro Vancouver.

“SoPa is not recreational property,” Andersen stressed. “These homes are for full-time resi-dents.”

The distinction is important, because it’s Kelowna’s once white-hot vacation real estate market that took the biggest hit back in 2008

and is still struggling.Enticed by visions of wealthy Albertans and

U.S. investors, developers overbuilt and over-priced resort properties. The resulting crash was ugly, with many projects stopped, some forced into court protection – such as the ultra-luxury Tuscany Villas and Copper Sky Developments in West Kelowna – and many spec develop-ers left with empty space, nervous lenders and few options. Some slashed prices, nearly all waived sales taxes and a few even included a free boat with every purchase. But, as one frustrated Okanagan developer told Western Investor last month – after a $60,000-per-unit price cut failed to move units – “it’s not the price, it’s the market.”

And the market is still tough. There are about 1,700 Kelowna homes listed on the MLS of the Okanagan Mainline Real Estate Board, and the average home is on the market for 86 days. In May, the average house price in Kelowna was down 6 per cent from a year earlier to

$471,128 and total sales were only 168 homes, compared with a 10-year average of 268. Prices are generally at pre-boom values.

Some developers, though, believe this will bring the buyers back.

“Basically we are back to 2005 prices,” said Patricia Cecconi of La Casa Resort, a cot-tage development above Lake Okanagan in Kelowna.

Asking prices, she said, are down 20 per cent to 30 per cent from the peak and, in a special promotion, La Casa is offering a com-pleted 700-square-foot non-view cottage for $199,000. That is the kind of value that would have sparked a bidding war three years ago. This spring, Cecconi said, it had drawn a lot of lookers but no signatures on the dotted line. (Resales at La Casa see lakeview cottages priced at around $320,000.)

Still, those looking for waterfront bargains won’t find many. Typical lakefront homes sell well north of $1 million and prices here have

barely budged in the past two years.

Kelowna’s residential and commercial realestate agents may see an upturn sooner thanexpected. A report this year from the Chartered Accountants of BC forecasts a recovery that began in 2010 is gaining traction right acrossthe Thompon-Okanagan region.

The report found that, after sustaining sig-nificant job losses in 2009, the regional econ-omy rebounded last year with the addition of 9,200 new jobs. With a job-growth rate of3.7 per cent, the region exceeded the averageprovincial increase of 1.7 per cent, the study found. Also, the number of business incorpo-rations and establishments increased in 2010,reflecting growing entrepreneurial and investorconfidence.

The accountants note that new projects starting construction in the region last yea r

La Casa Resort above Okanagan Lake has cut prices on both finished cottages and building lots, says marketing director Patricia Cecconi: some cottages are offered at under $200,000.

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Sales agent Brittany Gray with a model of the SoPa mixed-used project in downtown Kelowna: $1 million-plus penthouses were snapped up first.

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

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

www.mcmrealestate.ca

Kamloops Investment Opportunity8025 Dallas DriveLocated 15 minutes east of Kamloops in Gateway Industrial Park. Property can be subdivided, with no geo-technical concerns and great access to the Trans Canada Highway.

For LeaseBuilding size 10,000 up to 50,000 sq.ft. Lease rate depends on construction, lease term & tenant. Great opportunity for new business or expansion.

For SaleOwner will also do a “build to suit” &/or lease back

Lot 1-3 acres of zoned light industrial ASKING PRICE $795,000

Lot 2-2 acres of zoned light industrial ASKING PRICE $450,000

PUB / BEER & WINE STOREPre-Leasing & Sales Opportunity

Mona M. MurrayDip.ULE, RI(BC), CPM

[email protected]

TALASA VILLAGE CENTREKAMLOOPS, BC

B8 Northern British Columbia www.westerninvestor.com JULY 2011 WESTERN INVESTOR

Elaine Kienzle250 563-8769www.elainekienzle.com

Riverfront townhome site $575,0001.76 acres - approx 263’ of riverfrontzoned RM1 - multiple residentialpreliminary drawings for 13 TH’s on file

PRINCE GEORGEopportunities

Prime high profile location $749,000Hwy access near Costco & Future Shop3664 sq ft building on 1/2 acre lotzoned M3 - Business Industrial

Invest in your futureTwo waterfront properties

Ideal for recreational/residential developmentParcel 1 - 55 acres, 3 titles $520,000approx 1650’ of lakefront, easy access

Parcel 2 - 26 acres, 2 titles $325,000approx 1450’ of lakefront, hwy access

7.3 acres along the Nechako River $545,000zoned res - not in the ALR - subdividablepicturesque with a lovely mix of treeshydro and driveway on property

Remax Action Realty 1991 [email protected]

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

Turnkey ladies only gym. Everything included to take over “tomorrow”. Appt. Needed, no walk-ins.

$57,900 - MLS# N4504696

7000 sf building offers 1000 sf of offi ce/reception & 6000 sf of shop space ,4-16’ O/H doors & 1-14’ O/H door, 17’ ceiling, 200 amp service, just under 1 acre of land. $915,000 - MLS# N4504751

A RARE FIND!10433 - 269 Rd

OPPORTUNITY KNOCKING!

8224 - 93rd Street

FORT. ST. JOHN

The Power Of Partnership!

KATHY MILLERCURTIS ROBINSONPERSONAL REAL ESTATE CORPORATION

9929 - Swanson Street10.35 Acres, 12,500 sq. ft. l-1 Warehouse, 5-18' overhead

doors, 1-10 ton & 2-5 ton crane, 55 x 80 overall offi ce bldg has 3 offi ces & 10 x 32 Atco trailer.

$3,200,000 MLS# N4504450

RELOCATE & EXPAND HERE!

Currently Leased at $3,000/mo gross. 3200 sq. ft. building with 4 offi ces, 2 baths + 2 bay shop.

$340,000 - MLS# N4504196

INVESTORS ALERT! 10016 - 106th Street

1050 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. $879,000 - MLS# N4504836

Excellent tenants, fully renovated building. Showing a 10% Cap Rate

$2,700,000 MLS# N4504630

FULLY LEASED INVESTMENT PROPERTY!9948 - 100th ST

SHAPE YOURSELF FOR SUCCESS!#102, 10419 - 100th ST

10 Unit Residential Townhouse Property. Potential to stratify units for resale.

Gross revenue of $88,800/yr. Annual expenses: taxes $5,080,

water/sewer $4,000, insurance $950.

Reduced to $849,000 (sold in 2007 for $1,000,000).

Approx. mortgage pmt. on $675,000 = $3,800/mo*

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

* Financing available O.A.C.

Sicamous, BCMulti-Unit Residential

from B7were down 50 per cent from a year earlier, to a total value of $800 million. “This decrease reflects the withdrawal of second home, resort and investor buyers who had been the cata-lyst for much of the development,” the report remarked.

But government spending has helped to put a base under the construction economy, with close to $12 billion in institutional projects going ahead this year.

These include the $433 million Kelowna General Hospital expansion and the $25 mil-lion expansion of Okanagan College. Together with the University of British Columbia Okanagan, Kelowna has more than 11,000 university students during the school season. The hospital and the universities are Kelowna’s largest employers.

Despite the influx of students, however, the apartment rental vacancy rate in Kelowna has increased to 6.6 per cent, up from 3.7 per cent a year ago, according to an April survey by Canada Mortgage and Housing Corp.

As the takeup of store space at the SoPa development underlines, retail is perhaps the strongest sector in Kelowna commercial real estate. Last year, 202 new business incorpora-tions were established in the city and region, an increase of 8.5 per cent from a year earlier. The current retail vacancy rate is 3.6 per cent, according to Colliers International, but spikes

as high as 8.2 per cent downtown, mainly due to a couple of large vacancies.

Orchard Park Shopping Centre, the city’s main mall, is currently under renovation to wel-come Best Buy Electronics, which will open this year in about 34,000 square feet. The mall is 100 per cent leased, as in Kelowna Crossing Shopping Centre, Spall Plaza and the big-box Central Park Power Centre on the edge of town.

Lease rates in anchored shopping centres are from $16 to $30 per square foot, while smaller centres post rental rates in the $10-to-$25-per-square-foot range. Lease rates downtown, such as along Bernard Avenue, are $14 to $18 per square foot. Retail space in Kelowna is selling for around $280 per square foot, based on the six most recent transactions.

The industrial market is less robust. Lease rates are falling – down as much as $2 per square foot in some locations – and the indus-trial vacancy rate was at 7.2 per cent in the first quarter, up from 6.4 per cent at the end of 2010.

Average lease rates now average $8.75 per square foot, down $1 from the peak in 2008, Colliers reports.

Vacancy has climbed back up to 2005 levels, the year that Western Star left Kelowna for Oregon. The Western Star building remains empty, as does the nearby former Crown Packaging warehouse on Potterton Road, together accounting for nearly 300,000 square feet of vacant space.

Subleasing has become more common in

Kelowna, with some tenants accepting below market rates to fill the space. Industrial landprices have softened: recently an acre of land in the Marshall Business Park went for $980,000in a court-ordered sale. More typically, indus-trial space is selling for around $150 per square foot.

Kelowna has 1,320 acres of zoned industrialland and a further 1,721 acres not zoned but marked for industrial use under the official community plan.◆

Population 94,000+Average house price $471,000Apartment vacancy rate 6.3 per centRetail lease rate 3.2 per centMajor employers Government, service industry, tourism

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Call the

marketing your franchise?

1-800-661-6988 • (604) 669-8500 • westerninvestor.com

WESTERN INVESTOR JULY 2011 www.westerninvestor.com Northern British Columbia B9

NORTHEAST BC REALTY Ltd. Phone 250 785 4115

“Investing Our Energy In The North”

Located at 9912-100 Avenue Fort St John BC V1J 1Y5 www.northeastbc.com F: 250 785 4120

RON RODGERS - OWNER / MANAGING BROKER

FOR SALE - FORT ST JOHN BC Mini Storage Complex 56,000+/-sf 257storage unit compound on 3.93 acres consisting of 2 large buildings.

Potential business growth can derive from thedevelopment of approximately 7,000sf of unusedstorage units on the 2nd floor of main complex.

In addition, the adjacent 7.65 acres could be used for additionalRV storage, camping/picnic grounds, cold storage building units

or held for future expansion!

Total property size 11.58 acres directly off Alaska Highway within City Limits!

ASKING $3.88 Million MLS® N4504616 NO DROP INS

Call Ron for information package or to arrange to view Note: CONFIDENTIALITY AGREEMENT MAY BE REQUESTED Prior to release of information

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 —

'Dutch Maid Laundromat'Established fully equipped Laundromat. Price includes 32 washer, 33 dryers, tables, chairs, laundry carts, hand baskets, commercial shower & much more.

1921 Upland St. Exceptional 12 unit apartment building. 9 units fully renovated. Good location, well maintained property. 8% Cap Rate.

8% Cap Rate

353 Victoria St.FOR LEASE – Quality, visible 1,100 sq ft RETAIL space on 3rd & Victoria St. Net Lease.

The Endako HotelHistoric Endako Hotel fully renovated 9 guest rooms plus large management suite. Updated bar & grill. Profi table and located in the centre of Northern B.C.’s resource activity.

26485 Telegraph Rd. Vanderhoof, B.C. Ideal wildlife viewing/hunting property. 5 km of quad trails. 90 Acres cultivated. 2 miles of Nechako River front on west side & one mile on east side. Gravel deposit & two residences.

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

www.pgcommercial.ca

THINK REAL ESTATE...The Best Investment on Earth

Westwood Dr.FOR LEASE – Prime retail & professional offi ce spaces. High traffi c area, visual exposure, parking and much more. Net Lease.

1550 – 1st Ave.One of a kind opportunity. 3 concrete block warehouses on 3 Acres. 44,080 sq ft total space. Well maintained with 11 loading doors, 13 O/H doors, 3 Phase Power & highway access.

Fraser Lake, B.C.FOR SALE – Fraser Lake municipal development park. Commercial and Industrial lots of various sizes.

“Bee Lazee RV Park & Campground”A 49 pad campground, plenty of room for expansion and a modern 2,000 sq ft bungalow on 77 Acres. ¼ mile of frontage on Highway 97 South.

4986 & 5008 Hartway Dr.Two separate lots, cleared, level & highway access. Zoned M-3.

722 Stuart Dr. - Ft. St. James, B.C.Outstanding opportunity 10% plus Cap Rate. Fully renovated 11 unit apartment bldg. At the town park, on the shores of Stuart Lake.

Blackwater Rd.30 minutes from the City. Approx. 15 km down Blackwater Rd.. Three properties available totalling 1,097.93 Acres plus a woodlot license. Some gravel, mostly logged.

1396 – 5th Ave.FOR LEASE – 1,955 sq ft of professionally designed second-fl oor, top-quality OFFICE space. Gross rate lease.

www.beelazee.ca

RECESSION PROOF BUSINESSTHRIVING TAXI

COMPANY IN WILLIAMS LAKE, B.C.

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

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

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

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

Burns Lake Business Opportunities

Fourplex rental Unit $289,000

Art Studio with a long term tenant & a vacant fast food Café for $229,000

Waterfront Properties2900 Sqft home - $399,0002800 Sqft home - $329,0001900 Sqft home - $145,0001300 Sqft home - $190,000Burns Lake and Area Representative

PRINCE GEORGE

DENNIS BOCK250-692-3530

www.landahome.ca

2 story 3 bedroom, 2 ½ bath Duplexes, each side is 1374 sq ft with 5 appliances, single car garage, window coverings, fully fenced on 4 ft, Styrofoam foundations, gas heat and hot water. Great revenue properties $249,900 per side. 4 duplexes (8 sides total)

Contact: Kent Laverdure at 250-202-0182

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

#127545: NEW STRIP MALL has 4 available spaces left for lease, 1,750 sq ft each. Great location on 8th streetbetween Tim Horton’s & The Brick. Lease rates start as low as $16/sq. ftStart your business here.

FOR SALE OR LEASE 5040 sq ft building on busy Alaska Ave. Many uses, drive thru availability, lots of parking, next to government liquor store. Owner will consider dividing building into two rental units.Priced at $795,000 or 17.50 sq ft to lease.

#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.

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

L A N D

#129635: RESIDENTIAL DEVELOPMENT LANDS, 3 separate parcels 25, 79 and 116 acres. Superb location, the timing is right as we are expecting thousands of new people in the near future.

#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 tenant

#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 build-ing, could have 4 separate units. Total of over 12,000 sq ft, 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, immediate possession available. Asking price of $375,000

#129987 - 1380 SQ FT SHOP/OFFICE SPACE 1380 sq ft shop/office space, 2 main bays 30 x 30 and additional 16 x 30 bay. Each bay has separate entrance wash-room, 200 amp electrical and furnace. Paved parking lot, fenced compound and additional lot adjacent is included in the asking price of $255,000.

#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 $169,000

#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. $260,000

#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. High end restaurant opening soon, lots of parking.

#130090 currently leased located at 1512-97th Ave. To-tal of 4880 sq ft with 3360 sq ft of offi ce area and 1520 sg ft shop, 2-14ft doors. Existing lease shows over an 11% return. $425,000

MISSION - 7 ACRES - $779,900 REDUCEDIMMACULATE equestrian setup on a secluded and serene fertile acre-age with access to small waterway for fi shing, relaxing and eagle spotting. Renovated basement entry with beautiful maple kitchen, bay carousel eating area with million dollar mountain view, liv. rm, 3 large bdrms, 2 baths and room for extended family down with 2 bdrms, bath and kitchen.6 stall barn, 3 stall shedrow, 100 x 200 outdoor ring, 30 x 38 workshop, hay producing fi eld plus grass and sand turnouts for horses. The property is fenced and xfenced and groomed to make your transition here effortless. Potential to run bed/bale/breakfast in this great location. You will not fi nd any fl aws here - call today to view.

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

IRON CREEK LODGE - HOT NEW PRICE !!! $638,888 50 Acres – Located at the B.C. Yukon border, on Iron Creek Lake which is stocked by the gov’t with rainbow trout. Facilities overlooking the lake include service station, 2 storey lodge with 50 seat restaurant, full kitchen, living quarters upstairs, 8 room motel, 2 room log cabin, 20 serviced R.V. sites...the list goes on. All buildings and services were installed from 1992 to present with approvals and built to code. Steady clientele with tour buses, car, truck and camping traffi c, fi shermen, hikers, snowmobilers, cross country skiers and local traffi c. Priced to sell. Call for a full information package.

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

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

1-888-341-1100 [email protected]

Look Here For Your Next Investment Opportunity

SOLD

SOLD

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www.westerninvestor.com

WESTERN INVESTOR JULY 2011 www.westerninvestor.com Recreational Real Estate HOT PROPERTIES B11

For Further Information Contact: Alf Sanderson Vice President, Business Advisory [email protected] www.naicommercial.ca

For Sale Halcyon Hot Springs Village & Spa

SPECIAL REPORT: ALBERTA, SASKATCHEWAN, MANITOBA

Prairie HorizonsWestern Investor August 2011

What’s on the horizon for commercial real estate in the prairies? What factors in the economy are having impact? Where are the opportunities?

Prairie Horizons will look at the rise in and the outlook for commercial real estate prices as the resource sector roars to life across the Prairie provinces.

Promote your business, investment opportunity, city or town across western Canada.

PRAIRIE HORIZONS REPORTAdvertising deadline: Monday July 11

Media Kit On-Line @ www.westerninvestor.com

call toll free 1-800-661-6988604-669-8500

B12 Recreational Real Estate HOT PROPERTIES www.westerninvestor.com JULY 2011 WESTERN INVESTOR

of NanaimoEach Offi ce independently Owned and Operated

THE MAPLES ON SPROAT LAKE - from $389,000- 24-unit strata-titled development- Brand new vacation homes, 5 fl oor plans- Spacious, private decks, appliances included- Beach, trails, boat slip, large dock- All the benefi ts of Sproat Lake without the cost!

www.maplesresort.ca

SPROAT LAKE - STRATA-TITLED CAMPSITES - from $169,000 - Lakeshore Campground on pristine Sproat Lake- 26 level sites, underground services- Steps to large sandy beach- Private swimming area with waterslide- Boat slip included with purchase www.lakeshorecampground.com

DAVE KOSZEGI REALTOR®

business / pager 250.723.SOLD (7653)offi ce 250.751.1223 toll free 1.888.246.8695email [email protected] web midislandhomes.com davekoszegi.com 723sold.com

+ HST

+ HST

Phone 1.306.445.5000 or 1.800.529.9958

TURTLE LAKEPROPERTYTHURSDAY

JULY 21, 2011

lake property

auction

5 ACRE ESTATEAT EVERGREEN ACRES$150,000 OPENING BID

OPEN HOUSES Sat July 2 & Sat July 16, 11:00 am - 12:00 noon

Rare opportunityat one of

Saskatchewan’sfinest lakes.Beautifully

landscaped 5 acreproperty at

Evergreen Acreswith a 2297 sq. ft.home and 40'x50'

heated shop. Call for a Free

Bidder Package.TERMS & CONDITIONS:A non-refundable depositof 10% of the purchase

price will be required saleday. Balance must be paidin full within 30 days. Final

bid will be subject toseller’s approval.

2 Homes on fi ve acres, just 1 km from Parksville town centre on Vancouver Island

The main house consists of 3 bedrooms, 3 baths, at-home spa, swimming pool, sauna, hot tub and exercise room. Two river rock fi replaces and more.

This spacious refurbished log home consists of 4 bedrooms, 2 baths, spacious country kitchen and living room with a river rock fi replace.

General buildings consist of a workshop, RV covered storage and a woodshed. 15 acres seeded to hay is also available.Asking $1,250,000

For a virtual tour please go to

www.coastrealty.com MLS# 307619

Roland Bechthold COAST REALTY

Call Toll Free: 1-888-954-4433

n overwhelming majority of Canadians who have either pur-chased or who intend to buy recre-

ational property in the next 24 months believe that buying a vacation home is a good long-term investment, according to a nationwide survey of Canadian attitudes toward recre-ational property ownership commissioned by Royal LePage Real Estate Services through the Angus Reid Forum.

And, with recreational prices down sharply, more buyers may be willing to take the plunge this summer, agents suggest.

Overall, the survey found that 89 per cent of current owners and prospective buyers agree that recreational properties are a good long-term investment.

Broken down by region, this included 92 per cent of respondents from Alberta, 87 per cent of B.C. residents and similar levels in most of the country.

When respondents were asked to compare recreational properties with the stock market in terms of providing a larger financial return on investment, 50 per cent said recreational properties provided a larger return. Only 29 per cent replied with investing in the stock market, while 21 per cent were undecided.

“Canadians’ confidence in recreational prop-erty values is mirroring what we have been see-ing in Canada’s urban centres,” said Phil Soper,president and chief executive, Royal LePage Real Estate Services. “This spring, Canada’s traditionally buoyant recreational property

market appears to have found its groove once more and after a two-year downturn.”

Interestingly, a majority of respondents (57 per cent) said that the expectation of interest rates rising would not affect their desire to purchase a recreational property. Among this group, 55 per cent of respondents aged 35 to 54 (and 70 per cent of respondents aged 55 plus) said an expected rise in interest rates would not affect their desire to purchase a recreational property.

When it came to financial and lifestyle sacri-fices to purchase a recreational property, more than a third polled (35 per cent) responded that they were most likely to reduce personal spend-ing throughout the year. The two least favoured strategies were to drive as far as necessary and to make the recreational property a primary residence, both 13 per cent.

RECREATION FEATURE Albertans most bullish on payback when buying a vacation home, study shows

WI STAFF

WESTERN INVESTOR

“Relentlessly wet and miserable weather has delayed the 2011 buying season in some regions of the country. But while weather delays intent, it doesn’t change it. We expect to see considerable activity in the coming months – especially in higher-end and luxury segments,” added Soper.

More than half (51 per cent) of those polled said they are, or will be, renting out their prop-erty to offset their mortgage and other associ-ated costs. But many of those willing to rent plan to be selective (32 per cent) and only rent their recreational property to a renter who has been referred by someone the owners knew.

“We are seeing more buyers purchase proper-ties with the intent to offer them as rentals. This cost-offset strategy may allow younger fami-

lies to acquire a cottage earlier in their lives than they would otherwise, and others may beable to buy in a region that would have been out of their reach, pricewise,” said Soper. Some resorts have already seen an uptick. The new Ridge Resort at Harrison Highlandsnear Harrison Lake has sold 50 condos sincelast September, including 22 this year, despitea price increase, according to sales manager Steve Kim of the Newgen Group. Prices now start at $139,900, he said.

A separate survey by Re/Max Real Estateshows gen-Xers – those born between 1965and 1980 – are now a force in the recreationalmarket. Buyers in this age group have doubled over the past year, the national survey found.

But most of these 30- and 40-year-olds are drawn by today’s lower prices, according torealtors.

At Sun Peaks Resort near Kamloops, forexample, most of the buyers of the 15 resort condos sold this year where gen-Xers, accord-ing to the Re/Max team at the ski and gol fresort. “Prices are down at least 20 per cent from two years,” one agent confirmed. They are even lower for hotel condos at the resort.Only one such limited-use unit (the buyer is allowed to use it 56 days a year) sold this spring – for $19,000. It was priced at more than $100,000 when built four years ago.

The reason for the bargain prices is that hotelcondos have not been producing positive cashflow, since strata fees average $500 per monthand any rental income is split 50-50 with the resort, the agent explained. “The owner usuallyends up subsidizing the unit,” he said.◆

Sun Peaks ski and golf resort: one hotel condo recently sold for $19,000 – about $80,000 below its original value. Freehold condo prices at the resort are off 20 per cent from the peak – and sales are firming.

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

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

www.landquest.comLandQuest Realty Corp Smithers

LandQuest Realty Corp CourtenayLandQuest Realty Corp Nanaimo

LandQuest Realty Corp Cariboo –

PORT BROWNING MARINA SOUTHERN GULF ISLANDS, BC

A FOUR SEASON GET AWAY FISH LAKE

$549,000

1939 HERITAGE BOUTIQUE HOTELPOWELL RIVER, BC

THE NEW 108 RESORTCARIBOO REGION OF BC

SUCCESSFUL PARTY & EVENTS RENTAL BUSINESS

PRINCE GEORGE, BC

$295,000

$160,000

CLAM BAY OCEANFRONT FARM PENDER ISLAND, BC

4,995,000

POPEYE’S LOCKERS & STORAGE SECHELT, BC

$875,000

EXCELLENT FAMILY FARM + $45,000 CROP YIELD

PRESPATOU, BC

$495,000

GRAVEL PIT ON CNR LINE EAST OF PRINCE GEORGE

YOUR OWN PRIVATE HOT SPRING HALCYON POINT ESTATES, BC

$539,000

SOUTHERN GULF ISLAND RETREAT - GOSSIP ISLAND, BC

$849,000

GULF ISLAND DEVELOPMENT SITE DENMAN ISLAND

120 ACRES - PRIVATE WATERFRONT 70 MILE HOUSE

HOME CREEK RANCH FRANCOIS LAKE 320 ACRE

CATTLE & HAY RANCH

BLACKWATER RANCH VANDERHOOF, BC

$8,800,000

$249,000 $549,000

INVEST IN THE WEST KOOTENAYS

$305,000$368,500$229,000$599,000$274,900$49,900

LOVELY FAMILY OR EXECUTIVE HOME - NEAR 100 MILE HOUSE

$1,350,000

SQUIRREL COVE TRADING CO. CORTES ISLE - DESOLATION SOUND

SKEENA RIVER FISHING LODGETERRACE, BC

$1,300,000

BABINE NORLAKES STEELHEAD CAMP

$1,395,000

DEVELOPMENT PROPERTY IN VALEMOUNT, BC

THE POINT DENMAN ISLAND

BRIDGE LAKE WATERFRONT CARIBOO

$340,000

60 TITLES ON SMALL FARM EAST KOOTENAYS FORT STEELE, BC

1,695,000

TROPHY LAKEFRONT ESTATE CARIBOO - SHERIDAN LAKE, BC

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B14 Recreational Real Estate HOT PROPERTIES/Alberta www.westerninvestor.com JULY 2011 WESTERN INVESTOR

Mt. Sentinel Realty Ltd. W. Tymofievich (Water T.)250-487-1585 [email protected]

115+ Site

115 sites @$465 mth. + 21 R.V. sites, renting @$650 mth., showing in excess of 8.5% net return. All city services. Excellent asphalted roads, light standards, underground wiring.

MOBILE HOME PARK IN BOOMING COMMUNITY

OF EAST/CENTRAL ALBERTA

HomeLife HomemProfessional Realty Inc.ofessional Realty 108-181 thh St, Brandon, MB St, Brandon,

204-726-534026www.homelifepro.comlife

www.homelife.caelife

Beautiful Manitoba Resort Property!

Manigaming Resort,Clear Lake, Manitoba

Fantastic opportunity to own a popular and successful resort only 88 steps to main beach. 25 rental units including 15 pool side suites and 10 chalets. Lovely 2 bedroom living quarters allow you to have your own cabin at the lake. Meticulously maintained grounds and buildings. This is a favourite Clear Lake resort.Mike Kufflick 204-721-1347

Oak Island ResortOak Lake, Manitoba

Year round cottage currently under construction. Open concept design. Special golf privileges, restaurant and marina close by.

Lloyd Carruthers204-851-0525

Park Vista Chalets,Clear Lake, Manitoba

Perfect location bordering RMNP at the south entrance and walking distance to Clear Lake. Two relatively new, luxurious, fully finished cottages. Also included is an upgraded building for use as an office, smaller cottage, or other such use. Heated laundry room/pump house please heated storage room/tool shed.Mike Kufflick 204-721-1347

® ®®

Call Ted at 1-780-727-2042 Email: [email protected]

LAKEFRONT PROPERTY PEARSALL PLACE - RESORT VILLAGE OF COCHIN, SK

FRIDAY AUGUST 5, 2011

lake property

auction3.08 acres pristinewaterfront propertyoverlooking Murray

Lake including400+ feet of water

frontage and 200+ ft of highway

frontage. Call for a Free

Bidder Package.TERMS & CONDITIONS: A

non-refundable deposit of 10%of the purchase price will berequired sale day. Balance

must be paid in full within 30days. Final bid will be subject

to seller’s approval.

$100,000OPENING

BID

OPEN HOUSES:Sat July 16, 11:00 am - 12:00 noonSat July 30, 11:00 am - 12:00 noon

Phone 1.306.445.5000 or 1.800.529.9958

westerninvestor.com

WESTERN INVESTOR JULY 2011 www.westerninvestor.com Alberta B15

Commercial,Industrial& ResidentialFinancing

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

Obtaining Mortgages and Loans can be made Easy &

Simple!Contact:

Frank Hickey

• A Superb 103 Room Limited Service Hotel, featuring a number of unique features, no differed maintenance, plus excellent curb appeal and exposure, well located in a region of tremendous economic diversity that should provide a significant degree of operational upside going forward. Asking $13,200,000.

• A Flagged 102 Room Full Service Hotel well located in a prime commercial area of a dynamic city, the stellar performance of its operation is attested to by its continuous outstanding growth in revenues, plus substantial up-side potential. Asking $12,900,000.

• A Flagged 95 Room Limited Service Hotel consisting of 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. Asking $13,900,000.

• A Flagged 96 Room Hotel featuring an excellent room/suite mix, plus some unique outstanding features that will undoubtedly Enhance its performance going forward, very good financing is in place, the location is great, the up-side potential is very good. Asking $15,500,000.

• A Flagged Full Service Hotel, well located with highway exposure in a very diverse economic area, attested to by its continuously strong revenue performances; further, it currently has exceptionally good mortgage financing that may be assumed. The up-side potential of an investment is this Hotel is very good. Asking $29,000,000.

• 4.6 Acres of Vacant Prime Commercial Land 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 asking price of $3,910,000.

• Located in a very popular Ski Resort A New Deluxe 2 - Bedroom Condo consisting of 2 - bathrooms, fireplace, cable among the 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 more or less, at the Asking Price of $499,000.

CURRENT OFFERINGS

MOTELS & HOTELS≥ PROVOST Brand new 44 unit motel. Asking

$4.5M. (These motels can be bought as a unit or separately

≥ CAMROSE 40 unit motel showing Good revenue. Asking $2.9M. SOLD!

≥ CAMROSE 20 unit motel, (nice Ma & Pa operation) upgraded and very clean, Asking $1.2M.

≥ 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 $4.5M.

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

OTHER INVESTMENTS≥ DAYSLAND Convenience store and Gas Bar.,

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

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

email:[email protected]

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

CAMROSE, ALBERTA

ALBERTA IS AGAIN MOVING!

We are looking for 1st or 2nd mortgage lending opportunities for:

Single and multi-family residential developments

Commercial, industrial and retail developments

Refinancing / acquisitions

Construction / land servicing

Bridge loans

Income producing properties

CareVest has been providing its industry leading lending services since 1994. Our integrated real estate services specialize in the investment, financing and syndication of real estate mortgages throughout Western Canada and Ontario.

• 45 Unit Motel Pincher Creek, Alberta - $2,590,000• 8800 sqft Sublease office - Highfield - Calgary• Alberta Multi-family buildings - 6 to 1500+ units• Restaurant & Bar - High River Alberta - $2.7M• Former School for lease 27,000 sqft S.E. Calgary• Live/Work in Inglewood - Newer Condo $394,000• 33 Unit apartment building condo title - $3,465,000• 5625 sqft Retail Building on 4 Acres - Langdon $1,495,000• Prime Beltline Development Site Construction Underway $7,775,000• Franchise Restaurants - Chicago Deep Dish Pizza

- WOK BOX $299,000• 4900 sqft Industrial / Office Condo N.E. Calgary - $595,000• 1200 sqft Industrial Condo - N.E. Calgary - $290,000• 24 units close to University, Childrens Hospital, LRT - $4M

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

101ST STREET ORCHID NURSERY

Calgary, AB

• 14.2 acres of prime dev., land• Located within city limits (on west side)• Land use DC 11Z96• Existing beautiful acreage home• Great dev., or holding asset• Price: $6,300,000

SPRINGBANK LANDSRocky View County

• 153 acres zoned RF; • 6 acres zoned R2• North of proposed Bingham Crossing• Price: $5,000,000 (judicial)

www.barrycommercial.com Commercial Propertyshop Inc. Brokerage

Contact Karen at403.589.5599

[email protected]

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w.c

alga

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ROCKY VIEW 160 Acres on County Hills Boulevard

$5.6 Million

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

$23.2 Million

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

$32 Million

EAST CALGARY - 17 Ave SE 13.52 Acres Stoney Trail Frontage

$6.76 Million

EAST CALGARY - 17 Ave SE98 Acres near Stoney Trail

$15.6 Million

CHESTERMERE- SIERRA VISTA

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

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

88 Acres - $11.5 Million140 Acres - $18.2 Million160 Acres - $20.7 Million

KEVIN MOORE(403) 617-2846

St. NEY G 160 Acres near Stoney Trai

$3

Call Dennis Myers403-627-7493 • [email protected] VILLAGER REAL ESTATE CO.

403-627-1919

For further info contact: Lorne Ryz 403-862-6465 c • 403-775-4343 f

1-888-229-0007 Toll FreeEmail: [email protected]

ATTENTION INVESTORS1 bedroom renovated condo's,

downtown Calgary on 17th Ave SW. approx., 640 sq ft, rented from $850-$925

Seller Will Finance @ 3.75% for 2 yrs open with 25% down "No Qualifying" only 9 units left! Prices from $149,900 and up

Condo fee's run from $237-303/mo. Taxes approx., $100 per month.

Appointments required!

B16 Alberta www.westerninvestor.com JULY 2011 WESTERN INVESTOR

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 SALE6107 104TH STREETEdmonton, Alberta

RESTAURANT PROPERTY

For more information or to view, please contact: DOUG GRINDE

[email protected]: 780-463-3332 c:403-815-0283

JEFF ROBSON [email protected]

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

FOR SALE OFFICE BUILDING

For more information or to view, please contact:

DEERFOOT COURT

buildings of approx. 37,000 ft. each for a total gross rentable

three stories of structure.

frontage on 29th Avenue NE

RICHARD LEWISRYAN SWELIN

[email protected]@barclaystreet.com

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

FOR SALEITHACAN BUILDING

DOWNTOWN RETAIL/OFFICE BUILDING


tenant on the second floor.

washrooms.

RICHARD LEWISRYAN SWELIN

[email protected]@barclaystreet.com

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

FOR SALE23.96 ACRES

DEVELOPMENT LAND


DOUG [email protected]

p: 780-463-3332 c: 403-815-0283

17 Avenue SW

ASPEN LANDING SHOPPING CENTRE

85 S

tree

t SW

WESTERN INVESTOR JULY 2011 www.westerninvestor.com B17

FEATURE Oilpatch resurgence driving industrial, retail and residential demand in Alberta’s heartland

Please see Outlook, page B18

DAVE HUSDAL

WESTERN INVESTOR

resurgent oil and gas sector is push-ing demand for industrial space in central Alberta’s heartland and

spurring commercial and mixed-use resi-dential development.

While 2010 was a slower year in Red Deer, Alberta’s traditional oil and gas service capi-tal is clearly surging forward in 2011. Some even caution that a sudden rush of commer-cial development could drive some lease rates lower.

Brett Salomons sees the signs of recovery quite clearly.

“The industrial market is probably the stron-gest right now,” explained Salomons, an asso-ciate with Ralph Salomons Commercial Inc.,one of Red Deer’s leading commercial leasing agents.

The 2011 surge started with the larger oil-patch companies in the city landing more work and pushing for additional shop space. Since then, the demand from smaller companies has also picked up. Single-tenant properties with adequate yard space are most in demand, says Salomons, but as they fill up at $13 to $14 per square foot annual lease rates, the demand for the inventory of multi-tenant industrial build-ings is following suit.

That’s particularly true of more modern shop space.

“There was quite a bit of inventory on the market, but the newer stuff is more or less dis-appearing,” said Salomons. Older properties built in the 1970s and 1980s are more com-monly vacant than newer shops, he added.

Industrial land prices – $120,000 to $160,000 per acre for partly serviced, $265,000 to $285,000 per acre for fully serviced – have

bottomed out, realtors suggest, and while they may not surge forward significantly in 2011, there’s now demand from spec builders willing to build industrial shops.

The city itself is expanding industrial devel-opment via a new industrial park, Queens Business Park, that it is developing west of Highway 2 and south of Highway 11A in the northwest sector of the city. It plans to spend about $8.3 million on roadwork in the area this year. The development will cover close to 300 acres and include mostly industrial uses, but some commercial uses as well.

Construction work has also started this year on what’s known as the North Highway

Connector Project. It will provide a bypass around the city’s northeast beyond the slower-speed 67th Street/30th Avenue cor-ridor, and include a new bridge over the Red Deer River in the city’s northeast corner. The connector will ensure a smooth flow of traffic around the existing developed areas of the city from Highway 11 in the east to Highway 2. Its completion is several years away.

The City of Red Deer’s building permit stats back up Salomons.

While 2011 isn’t likely to resemble the boom years of 2006 or 2007, it’s running ahead of 2010 at this point. As of the end of May, the

city had issued permits for $55.4 million in newbuilding activity in 2011. That was up roughlya third over the 2010 pace.

The new activity includes not only the hous-ing sector, but commercial activity as well.

While commercial growth has been centred onRed Deer’s south end in recent years – stretch-ing into Red Deer County along Highway 2’sGasoline Alley – 2011 will see retail expansion in the northeast sector of the city along 30thAvenue/67th Street with Clearview Market Square. The shopping centre is a Melcor Developments Ltd. project that should eventu-ally see 263,000 square feet of new commercialspace on a 22-acre site.

Construction has already started on the project. In the deep south – but still withincity limits – Qualico Developments is poised

to start construction on what is known as Southpointe Junctionat Taylor Drive and 22nd Street.It will boast 350,000 square feet of retail development immedi-ately west of Qualico’s existing Southpointe Common project.

Southpointe Junction also envi-sions residential space.

Mixed-use projects are likely to become more prominent in Red Deer, especially as downtown rede-velopment continues.

Changes in the city’s core will continue thissummer with significant reworking of three blocks of 50th Avenue (known as little Gaetz Avenue) in the heart of Red Deer. The city is spending about $4.7 million to enhance thestreetscape of Little Gaetz, making the one-way southbound street more attractive for pedestri-ans and businesses, explains Charity Dyke,Red Deer’s downtown co-ordinator.

The changes reflect the Greater Downtown Action Plan and the desire of residents to see a more active core, both residentially and com-mercially, explains Dyke. The work will be fol-lowed in 2013 with reworking of another three

(TOP) As of the end of May, Red Deer had posted $55.4 million in building

permits, up about 30 per cent from the same period in 2010. (RIGHT) Artist

rendering of $4.7 million redevelopment plans for little Gaetz Avenue downtown.

Phot

os: Ci

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f Re

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Paintearth Economic Partnership SocietyThe Power of the Future is Here Today

edmonton

reddeer

calgary northbound

fortmcmurray

36

• Centre of Oil/Gas activity in East Central Alberta

• Tax Incentive Policy for new commercial/industrial development

• Excellent selection of housing options• A great family-oriented community• Prime Commercial and Industrial lots at

attractive prices

Contact us today to find out how we can assist in locating your business in the

Town of Coronation

403-882-3211 or1-888-882-3156

[email protected]

Town of Coronation – A Royal Town www.town.coronation.ab.ca


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

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

VALERIEKING

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

EDMONTON ON THE RISE

• NEW LISTING! 7900 sq ft warehouse. Central Edmonton. Stadium Road .............$8.00/ sq. ft.

• SHOPPES OF BLACKBURNE 111 St & Blackburne Drive. New strip 470 to 1500 sq. ft. bays .....................$32.00/ sq. ft.

• NEW LISTING! 18,400 sq. ft. Office / Shop. Nisku Industrial Park ............................$13.50/sq. ft.

• STYLEMASTER- 14,000 SQ FT BUILDING ON 0.56 ACRE RA9 SITE ......................... $1.875 Million

• ENCORE CENTRE - 137 Ave & 66 Street. 1553 sq. ft. Finished Retail............... $28/sq. ft.

• 2400 SQ FT WAREHOUSE BAY 7805 Argyll Road .......................... $6.95/sq. ft.

Call Bob Gaetz Owner/Broker

Ph: 780-448-2020F: [email protected]

BUILDINGS FOR SALE & LEASE

LAND FOR SALE• NEW LISTING 153 acres plus 18,400 sq. ft.

building. Nisku Industrial Park .....$13 Million• NEW LISTING 1.15 acres CNC Development

Site. 167 Ave & 71 St ..............$1.25 Million• INNISFAIL 106 acres HWy Industrial, 3/4 mile

frontage to QEII .....REDUCED TO $32K/ACRE• 6.6 ACRES UPGRADER ALLEY

Hwy. 37 & 34 St .........................$110K/Acre• 1.88 ACRES Summerside EIB Site

..............................................$22.50/sq. ft.PENDING

SOLD

Glenn MooreAssociateC21 Advantage CommercialPhone: 403-318-8085Email: [email protected]

OPPORTUNITY IS KNOCKINGIN RED DEER!

• Great Location• High Visibility• Long Term Government and

National tenants• 2 Parking Lots INCLUDED for

Future Development

$7.5 Million

PAGE REGANLand Development SALES

RE/MAX Real Estate 780-488-4000

ROB REGAN 780-490-9324

[email protected]

BRIAN PAGE [email protected]

197 ACRE SUB-DIVISION FOR SALE

LAKE FRONT PROPERTY

from B17

blocks of Little Gaetz at an estimated price of $4.3 million.

To the west of Gaetz, planning work contin-ues for redevelopment of what’s known as the Riverlands area, a place formerly occupied by the city’s public works yard and a wide range of warehouse uses.

City council is expected to approve a long-awaited area redevelopment plan for Riverlands this summer, and the document envisions high-er density mixed-use parcels on the southeast bank of the Red Deer River.

The city itself is a major landholder in the area with about one-third of the deeded land, but has made it clear that it wants significant private development on the core’s west side to go with new public spaces aimed at growing the arts.

“We do know that to achieve the vision we’re looking for in Riverlands we are going to have to look at private development in that area, and that will be our focus looking forward,” said Dyke.

For the most part, the planning process will have to move along a little more before new projects move ahead.

Still, some developers have trotted out plans for projects close to the river’s edge. One such company is River City Development, which wants to move ahead with a mixed-use devel-opment featuring 37,000 square feet of com-

mercial on the bottom two floors; higher-end residential condos above that would sell for between $440,000 and $660,000.

The project at Gaetz Avenue and 55th Street would occupy a former creamery site, reflect-ing the greater downtown plan to replace tra-ditional warehouse and industrial space with residential and commercial uses, a concept supported by Red Deer residents.

The Riverlands area plan calls for a strong connection between the river and downtown, higher densities, unique public spaces includ-ing a public market and a hotel and convention centre, among other features. It’s expected to be formally adopted by city council this sum-mer.

The increase in developments will likely affect existing lease rates, Salomons said.

“I think with Qualico and Melcor bringing on all this retail space it’s going to put some downward [vacancy rate] pressure on the exist-ing space,” he predicted.

That’s a factor to be aware of in a centre where new space is leasing in the $22 to $25 per square foot range.

Not all commercial sectors are expanding right now in Red Deer, however, with the office market considered somewhat oversupplied.

Meanwhile, residential landlords are seeing a tighter market. Canada Mortgage and Housing Corp. estimates that average vacan-cy rate for private apartments in Red Deer is 7.5 per cent — down from 9.2 per cent a year

earlier. The national housing agency also cal-culated that the average rent for apartments ofall sizes in the city is $770, down slightly froma year ago.

The median sale price of a Red Deer house is around $292,000, according to the local realestate board. In the first quarter, sales rose 10 per cent from a year earlier – the best first quar-ter since 2008.◆

Population 90,084 Annual growth rate 2.14 per cent2011 building permits $55.38 million (January to May; up 37 per cent from same period last year)Serviced industrial land $265,000 to $285,000 per acre Median house price $292,000

BRITISH COLUMBIA

Edmonton

Leone

U.S.A.

✪

2

ALBERTA

RED DEER

Olds

Calgary

Sylvan Lake11

Blackfalds

BANK OWNEDExcellent Investment Opportunity

BANKED OWNEDExcellent Investment Opportunity

Adnerys Armstrong403-999-5626

• 4 retail condo bays at 512 Bow Valley Trail

• High traffic location• Perfect for retail• 5629 sq. ft. combined space• Only $128/sq. ft.

REDUCED OVER 40%• These units will not last!FORECLOSUREFORECLOSURE

BUY1-800-661-6988

Your hunt for the right investment could be right in the pages of the Western

Investor. Every month you’ll find $2 Billion worth of opportunities.

WESTERN INVESTOR JULY 2011 www.westerninvestor.com Alberta B19Pam Gill

(780) 455-4088www.apartmentsinedmonton.com

sutton central commercial real estateAN INDEPENDENT MEMBER BROKER

For full Proformas, Call or [email protected]

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

Sutton Central Commercial

EDMONTONAPARTMENT PROPERTIES

6 SUITES, Cromdale ..................................................$575,0008 SUITES, Downtown ................................................$584,00011 SUITES, NAIT .....................................................$1,067,000 12 SUITES, Downtown ..............................................$876,000 15 SUITES, NAIT .....................................................$1,575,00015 SUITES, Downtown ...........................................$1,425,00020 SUITES Cromdale ..............................................$1,960,00022 SUITES, Downtown ...........................................$2,420,00030 SUITES, Westend ..............................................$2,900,000NEWER WAREHOUSE, 1455 sq. ft. ............................$369,000

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

POLARIS REALTY Commercial Realtor

INVESTMENT PROPERTIESFOR SALE!

15 UNIT APARTMENT, west end, all ones, many renos - 6.07 cap. Call for proforma23 UNIT APARTMENT, University area, nice condition and 5.75 cap. Call for proforma38 UNITS IN RED DEER, 4 storey with elevator, 24 ones, 14 twos, upgraded premium property in best rental area near Hospital and College – serious inquiries only please - $3,990,00013,231 SF, 5 BAY RETAIL STRIP MALL in Leduc, AB. with solid long term tenants. 9 years old. NOI over $161,000 per annum. 7+ cap at $2,180,000. 68 PAD MOBILE HOME PARK in High Level, AB fully serviced, paved roads, underground utilities, fenced and landscaped, bare land condo titles. MOTIVATED OWNER WILL CARRY 75% FINANCING FOR A QUALIFIED BUYER INTEREST FREE FOR UP TO 2 YEARS!!! MLS $1,295,000

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

years of commercial real estate experience to assist you!

NORTHERN ALBERTAINVESTMENT/BUSINESS OPPORTUNITY• Restaurant/lounge/gas bar/convenient

store for sale in Northern Alberta• Homesteader Building Supply Store for

sale in Manning, AB• Commercial Lots For Sale in Manning, ABLooking for Investor's to purchase

4-plexes in the Peace Country

For Further Information contact:Evelyn Petkus

780-836-3086 or 780-836-6478EMAIL: [email protected]

ROYAL LEPAGE, CASEY REALTY LTD. PEACE RIVER, AB

www.manningrealestate.ca

LAWRENCE STEINKESpecializing in Apartment Sales Since 1975

STEINKE AND COMPANY REALTY LTD.PH: (780) 447-9009 Fax # (780) 447-9008

Email: [email protected]

IF YOU HAVE SPECIFIC REAL ESTATE NEEDS, CALL US... WE CAN FIND THE

PROPERTIES YOU NEED!We have several apartment and condo buildings

from 6 units to 100 units. Price ranges and locations vary across Edmonton. Call or email us for further information The following are a brief

selection of the properties we have available right now. More are only a phone call away.

APARTMENTS FOR SALEIN EDMONTON

• 15 Suites, walking distance to NAIT, Strata Title not registered ............................... $1,500,000

• 33 Suites, 2 blocks to Grant MacEwan College, OFFERS ......................................... $3,500,000

• 21 Condominium Units Westend ........................................$2,835,000

• 38 Suites, great suite mix plus additional land ...................................................... $4,600,000

COMMERCIAL / INDUSTRIAL FOR SALE

• 4 QUARTERS of land approx., 40 miles NW of Edmonton. Must be sold together ........................................Total Price $600,000

• NEW, 10 Condo Warehouse just west of Edmonton, 2,000 sq. ft. bays and mezz. ..................................................$350,000/bay

• NEW, SPRUCE GROVE 3 remaining Condo Warehouses. 1,700 sq. ft. bays, great curb appeal ..................................................$334,900/bay

• NEW, Zoned Industrial / Business, Development Site, Westend Edmonton, 1.6 Acres .....................................................$1.3 Million

• COLD LAKE, AB, 2 - Retail / Office Strip malls: One - 2 storey 10,000 sq ft @ $590,000; One - 1 storey Retail 7000 sq ft @ $725,000

Call LAWRENCE Ph: (780) [email protected]

INVESTOR READY!

780.841.1496 [email protected]

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

Will consider any and all conditions.

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

4-PLEX FULLY OCCUPIED

PRICE $519,000

INVESTMENTS CALGARY AREA

RE/MAX ACA REALTY

(403) [email protected] Realty

64 seat restaurant in fast growing community north of Calgary, price includes land, building & equipment

Trailer Park 12 unit, plus 7 residential lots – excellent cash flow

AIRDRIE – 5000 sq.ft. industrial bay for sale with makeup air unit & inferred heaters

2500 sq. ft. industrial bay for lease

137 acres industrial land annexed into Crossfield, services close by, ready to be developed – excellent potential

141 acres annexed into Crossfield, excellent potential

132 acres highway #2 frontage, 20 minutes north of Calgary – call today

279 acres located next to Crossfield – possible development possibilities C/S

¾ acre industrial land for lease

137 acres with #2 highway frontage – excellent access

East Balzac – NE of Calgary – 151 acres, 1250 sq.ft. bungalow, 40’ x 80’ Quonset

BEISEKER – 2.73 acres industrial land, fenced & graveled, presently used for storage

320 acres excellent farmland – 20 mins N of Calgary

151 acres east o f A i rdr ie – PRICED TO SELL

Goalie Equipment & Development Business For Sale

SOLD 809 sq. ft. Office / Retail space for sale, large lot

SOLD CROSSFIELD – 22 room motel, great location, excellent condition C/S

For more information on these and other properties

DON SACKETTcall

RE/MAX real estate central alberta

GOLDEN OPPORTUNITIES IN CENTRAL ALBERTAMobile Home Park

$3,500,000

Lake Home$1,650,000

Residential Lots$87,000

Call CARL STEPP cell: 403-358-9300

www.sylvanlakehouseguy.com

TEL. 780-349-347710111 104 Ave Westlock, AB T7P 1K6

ALBERTA OPPORTUNITIES

RE/MAX Results

E1013859 $219,000 In Westlock, 3200 sq ft. commercial building on 0.22 acre (77x122.6) lot. Approximately 1000 sq ft of office and showroom space. Approximately 2200 of warehouse space with 7X7 overhead door and 3 phase power. Call Bill 780-307-9099 $999,000 Beautiful 6 acre property in Pickardville. 3032 sq ft. 3 bed, 2.5 bath, 1.5 storey home. 2 shops measure 40x100 & 30x60 with 14 ft. overhead doors. Call Deanna 780-307-2612 E1013182 $225,000 Barrhead location. Built in the 1930’s this building has a quaint look that would be great for antique shop or clothing store. Lots of potential! Call Shannon 780-674-7150 E1013314 $295,000 Excellent farming quarter, located 5 miles North of Onoway on RR #22. Land is mostly rated #1 soil. Presently about 30 acres is in grain and the remainder in hay. A great addition to a farming operation. Call Shannon 780-674-7150 E1012288 $185,000 Located off Hwy 33 in Barrhead, close to downtown. Good size reception area & office, 2 bay garage with floor drains at rear of the building, huge covered area in front of the garage doors. Call Shannon 780-674-7150 E1014319 $320,000 160 acres over 2 quarters with over a mile of lakefront on Toad Lakes. Close to Onoway. 25 acres was seed oats & the remainder is 2 year old hay land. $2200 per year oil revenue. Call Shannon 780-674-7150

lom

ea0r


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

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

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

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

INVESTMENT SALES

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

and IndustrialCONTACT IAN NEWMAN

OR MIKE PARKER

FULLY LEASED OFFICE BUILDING INVESTMENT• Leased to very large multinational construction

company• Net lease• Asking $8,290,000

CONTACT JOHN [email protected]

MULTI-FAMILY OPPORTUNITIES

• 14 units; twelve 2-bdms, northeast; new roof and windows

• 17 units; central location; concrete construction; new roof and windows.

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

• Highrise site on Jasper Ave; 15,000 s.f. across from River Valley; improved with 2 apt. bldgs. (17 units)

• Highrise site in Rutherford; 1.02 acres zoned for 105 units in dynamic area

• Stony Plain development site; zoned apt. & attached homes

• High density dev. sites & apt. opportunities in Wetaskiwin

• Country Residential Development Site; 150 acres; near Alberta Beach/Lac St. Anne

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

CHRISTOPHER KAMPHIUSor RAPHAEL YAU

[email protected]

COMMERCIAL CONDOS

• 3,000 – 9,000 sq. ft.; located at intersection of Fort Road, Wayne Gretsky Drive & Yellowhead; $130 per square foot

CONTACT BURKE [email protected]

DEVELOPMENT OPPORTUNITIES

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

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

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

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

CONTACT JEFF MCCAMMONOR DOUG BAUER

STETTLER MALLSTETTLER, ALBERTA

• ±91,403 sq. ft. on 10.21 acres anchored by The Brick, Peavey Mart and ATB

• Just $65.00 / sq. ft.• Located in the heart of Alberta

WESTLOCK MALL, WESTLOCK, ALBERTA

• ±64,218 sq. ft. on 5 acres anchored by Peavey Mart and The Bargain Shop

• $51.40 / sq. ft.• Attractive returnsCONTACT DAVID COONEY / DOUG FOGG OR

HOWARD McCANN

FORMER WAL-MART MEDICINE HAT, ALBERTA

• High profile redevelopment opportunity• 12.95 acres / 100,287 s.f. building• $10,000,000

CONTACT HOWARD McCANN OR MARK McCANN

DUGGAN MALL, CAMROSE, ALBERTA

• ±65,136 sq. ft. separately titled dept. store anchoring a major enclosed shopping centre; asking $4 Million ($61.40/sq. ft.)CONTACT JEFF McCAMMON OR DOUG BAUER

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

CONTACT DOUG FOGG OR MARK McCANN

MULTI-FAMILY 100+ UNITS• Interior BC• 8.0 CAP• Located just off highway 1

CONTACT RAPHAEL YAU OR DOUG RAE

MULHURST BAY CROSSING DEVELOPMENT LAND

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

CONTACT JEFF McCAMMON OR DOUG BAUER

14,707 SQ. FT. SHOWCASE WAREHOUSE

• Argyll Road / Sherwood Park Freeway

• Clear span warehouse; dock & grade loading• $2,690,000 PRICE REDUCED!

CONTACT JEFF McCAMMON OR DOUG BAUER

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

14,500 sq. ft. building

CONTACT DOUG RAE

www.cwedm.com

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

[email protected]

WESTERN INVESTOR JULY 2011 www.westerninvestor.com Alberta B21

Homebuyer warranties eyedThe Alberta government is propos-

ing changes to improve the standard of building in Alberta to better protect new homebuyers and hold builders more accountable.

“The vast majority of homes in Alberta are built well and stand the test of time. But we want to ensure that we have all the tools in place to address those instances where issues do arise,” said Municipal Affairs Minister Hector Goudreau. “This full-suite approach will involve all partners from municipalities and their inspectors to builders and safety codes officers to consumers and warranty providers.”

The province says it will consult with key stakeholders on developing a regulatory framework for mandatory new home warranty programs. There are currently five new home warranty programs available in Alberta. The regulatory framework would enhance what is available to consumers and set minimum pro-visions and standards.

The government is proposing an increase be considered for the limitations period, increas-ing the length of time that charges may be laid for building code offences to up to three years after homeowners take possession. It is also proposing the maximum fine be increased to $100,000 for a first offence and hiked as high as $500,000 for subsequent offences.

The government says it wants to improve the standard of building in Alberta with a Municipal Affairs review of the Safety Codes Act. As well, the Safety Codes Council is con-ducting a broad review of Alberta’s inspection system and will provide building envelope training to all building safety codes officers in the province in the next 12 months.

“Our comprehensive approach strikes the balance between consumer protection and industry responsibility without significantly adding to the price of a home or negatively

impacting builders who comply with Alberta’s codes,” Goudreau said in a news release.

Industrial vacancies drop in Edmonton The rising fortunes in the oilpatch are

reflected in a reduced industrial vacancy rate in the Greater Edmonton area for the first quarter of 2011.

The industrial vacancy rate fell from 3.58 per cent at the end of 2010 to 3.49 per cent, despite the fact it actually rose outside the city in areas such as Leduc/Nisku.

The new figures were reported in the 2011 Q1 update from Colliers International.

The commercial real estate giant expects vacancy rates to tighten a little more in 2011, and for rates to adjust upward somewhat.

“Edmonton’s surrounding markets have seen an increase in demand for shop space with yard, but there is a shortage of supply in this regard as the oil and gas service sector is getting back to work,” Colliers stated.

“Tenants are looking for specialized space that meets the needs of their work, including heavy power, good floors, and big yards. Lack of supply has tenants looking for raw land appropriate for construction of typical shop space. In addition, land is being perused once again for lay down and assembly yards.

“As in Edmonton proper, vacancy is pro-jected to decrease in the surrounding markets and there will be an increase in positive absorption. Lease rates and sale prices are going to increase slightly as the oil and gas sector gets busier. As well there is an expect-ed shortage of facility alternatives, especially shop facilities.”

Medicine Hat sweetens incentivesThe City of Medicine Hat is trying to

spur on downtown redevelopment with a new incentive program.

The program consists of incentives available

Suburban developers within Calgary city limits will pay significantly more in devel-

opment levies now that Calgary city council has accepted a negotiated agreement between the city’s development community and its bureaucrats.

Council voted in mid-May to accept a new off-site levy bylaw that will ultimately cost develop-ers about $8,000 more per new home they bring to the market in Calgary’s sprawling suburban neighbourhoods.

The bylaw provides for a two-phase imple-mentation scheme for the adjusted levies, with the lower levies applicable to only the first 400 hectares of land under 2011 development agreements. Once that land is tied up with new agreements, sanitary sewer levies will double from $22,178 per hectare to $44,356, and water levies will jump from $12,234 per hectare to $24,469.

The second phase of the implementation scheme also hikes stormwater and transportation levies, but only by an additional 28 per cent.

The bylaw to hike development levies was approved by a 12-2 vote of council, with Mayor Naheed Nenshi voting against the changes, not because of the steep hike in fees but because they still won’t recover the full costs of urban growth and infrastructure to accommodate it.

Nenshi campaigned on smarter growth for Calgary in the fall 2010 election, and wants suburban growth to come closer to paying for itself.

Calgary has nailed higher costs onto new suburban houses.

Phot

o: S

terli

ng H

omes

to downtown property owners to assist them to redevelop or initiate new developments in the city centre.

As part of the city’s downtown redevelop-ment plan, recommendations and sugges-tions came forward regarding improvements, including how to deal with vacant and dilapi-dated structures. City officials say there are several features to enhance the beauty of the area and entice both visitors and residents to explore unique shops and eateries located throughout the core.

“The Downtown Development Incentive Program was created to provide financial sup-port to downtown property owners to assist with redevelopment of old buildings and former retail sites, upgrading of living space above the lower storefront or development of new spaces on currently vacant sites,” said Abdul Khan, commissioner of development and infrastructure for the city.

Property owners can now access up to

$50,000 for major renovations or new con-struction of a commercial building in the downtown.

As well, property owners can access up to $100,000 for redevelopment or new construc-tion on a multi-family project with a mini-mum of six suites.

Property owners can also apply for up to $10,000 to develop a residential living space connected to their commercial building. Additional funds are available for up to two more suites on the property if space permits.

The program also offers interest-free loans up to $100,000 to assist with redevelopment or new development in the downtown.

“We have had lots of interest in the concept since city council approved it earlier this year so we are expecting it to be popular with downtown business and property owners,” said Keith Crush, the city’s business develop-ment officer.◆

– Compiled by Dave Husdal

INDUSTRIAL SPACE - For Sale or LeaseFORT MCMURRAY - Taiga Nova Industrial Park

www.property-solutions.ca

• 4.44 Acre Site • Lease or Purchase Options • 30' High Buildings • Experienced Developer & General Contractor • LARGE Rear Yard!

13,000 to 52,000

(Square Feet)

Fall201150% PENDING

MORE LISTINGS ARE AVAILABLE PLEASE CALL Jun Choi for DetailsCel: 780-722-2570 • Email: [email protected]

EDMONTON & AREA OPPORTUNITIESCOMMERCIALCAR WASH: Edmonton, 8 Bays, 1Auto, huge potential ....................................................................$949,000T RUCK & CAR WASH: Edmonton, 4hr, 3 truck bay, 1 RV, 6 car wash, Over $1 mil sales/year, ......$3.75milHOTEL CENTRAL ALBERTA: Right in downtown, 7 VLT's, Pub & Restaurant ...............................$550,000C AMP GROUND & RV PARK: Edmonton, 30min., 10 acres under huge upgrader, best location,

Liquor store, Gas Bar ...........................................................................................................................$2.9milMOTEL: Alberta South Big City, 3 years old Best Location, Over 1.5mil sales, Franchise ....................$7.9milMOTEL: In Edmonton, Renovated, 39 Rooms, Over 800k sales, Private Manager's house .................$3.9milG AS STATION: Edmonton 2.5hr, Brand new station -2 national franchise tenants, Huge Potential $3.75milG AS STATION: Edmonton, 4 hr N of Edmonton, Brand Name Gas Station, $3M in store

& $5M litre gas sale ...........................................................................................................................$6.5milG AS STATION: Edmonton 30min., Franchise, New Equipment, Boom town, Car wash, $4.5 mil Sales

.........................................................................................................................................................$1.89milLIQUOR STORE: Edmonton 1.5hr, 20 years business owner retire, $900k average sales in 3 years $349,000INVESTMENT: Edmonton, Business condo, 2900sf, Fully Leased, Good Potential ..........................$495,000

- fast short term commercial -

B22 Alberta/Saskatchewan www.westerninvestor.com JULY 2011 WESTERN INVESTOR

Val ToffoliPhone: 780-707-9395

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

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

Selling Edmontonsince 1987

MULTI-FAMILY APARTMENT BUILDINGS:

• 2 Units – Full Side by Side Bi-Level Duplex. Great West End Location. Needs some TLC & priced Accordingly!

• 12 Ste Character Bldg. Owner Managed & Well Maintained. Large Stes. Central

• 12 Ste 2 Blks to College & New Proposed Arena; 1 Blk to LRT & Walking Distance to Downtown. Great Curb Appeal. Under $70,000/ste!

• 15 of 26 Condo Units Available. Central – Walk to Downtown. Buy 1-2-3 or all. Great First time Investment Opportunity!

• 17 Ste CONCRETE Apt Building. New Balcony Railings; a lot of New Windows; Several Stes Substantially Upgraded. A few Blks from the Yellowhead. N Ctl location.

APARTMENT BUILDINGS:ATTENTION: DEVELOPERS/BUILDERS: 40 Acres – Ready for Submission to Parkland County for Approval of New 8 Lot Subdivision. BONUS: 1 lot features Gorgeous 3,632 sq.ft. Executive Home with Triple garage & 2 Large Shops – an Excellent Base for the Developer/Builder! Across from 1 of the MOST Prestigious Subdivisions in County. Call for Details.

WANTED:APARTMENT BUILDINGSHave Qualified Buyers Ready to Purchase!

For further information, contactGary & Renée Anderson

Hospitality Sales SpecialistsDirect: 780-432-1408

[email protected]

Dynateam Realty Ltd.Office: 780.444.6605

HOTELOPPORTUNITIES

AVISON YOUNG Edmonton Investment Team

Visit us at www.ayeinvest.com for sale listings, market information and the latest commercial real estate news 780.428.7850

Park Centre - 2308 96 Street9,247 sf of Professional/Medical with additonal land allowing for up to 10,000 sf of additonal development

partnership.performance.

3619 118 AvenueAn 8,150 sf building on a 12,000 sf site with excellent high traffic signage opportunity along main east/west roadway

McLay Development Lands292.01 acres of future development land in Sturgeon County close to the new Anthony Henday and HW 28 intersection

Former TD Bank Building4,798 sf well located professional/retail situates on 9,604 sf of land on the corner 50 St. and 50 Ave; the main intersection in Leduc

$2,795,000

$815,000

$4,526,155

$825,000

FLAGGED HOTEL IN SASKATCHEWAN$4.2M

28 ROOMS MOTEL IN A MAJOR CITY OF SK ON HIGHWAY #1$1.59M

MARTIN PARK T:

Re/Max Crown Real Estate Ltd.

EDMONTON LAND130 acres +/- zoned rural residential - 70% level grass & pasture, bal.

woodland grazing.Presently decommissioned game ranch, cadillac fencing & livestock

handling equip w/40x80 shop & living quarters. Could be livestock, cattle/horses/exotics or private estate situated on twinned highway 5 miles west of West Edmonton Mall. Airstrip presently being developed, super grass, fencing, privacy or develop to suit market.

For More Information Contact:

BOBCAT DEVELOPMENT780-722-4156

YOUR ADVANTAGEIN ALBERTA

FIRST CLASS HOTEL IN GREAT CITY •Asking: $27.5M, •Revenue is about $6M • Premium 176 guest rooms & suites around 1acre

garden court yard •8 meeting rooms/Banquet facility • Lounge and leased out restaurant & spa on

5 acres of landSHOPPING PLAZA, HOTEL IN BIG CITY •Asking: $14.9M • REV: $2.3M: Hotel: $1,110,695; Rental: $513,253;

Others: $669,734 • 48 oversized rooms plus 20 tenants and other big

rev. income source • Located in big city downtown core with 4.9 acres of

land and 102,000 sq. ft. building.FRANCHISE MOTEL NEAR CALGARY •Asking: $13M, •103 room, 4 storey •Revenue: $2.3M (2011 - Projected $3M) •High visibility from hwy. • Business is increasing & the best location w/just

2 yrs old & growingMONEY MAKING FRANCHISE MOTEL •Asking: $9.8M •REV: $3,158,106 •3 yrs old, very busy location •Limited Service, 85 Rooms, located in very busy cityLIMITED SERVICE FRANCHISE MOTEL •Asking $7.6M •3 years old, 4 storey, 60 rooms •Swimming Pool w/water slide •Situated with excellent exposure in big city, ABFRANCHISE MOTEL NEAR CALGARY •Asking: $5M, •41 room w/ leased Boston Pizza •1.5 Acres, ready to add 20 rooms.FRANCHISE MOTEL IN SOUTHERN ALBERTA •Asking: $4.99M •REV: $1,124,570 • Revenue is very steady past few years during

recession • 48 rooms with client base from Provincial & Federal

employees, tourists and oil, gas & agriculture.MOTEL IN B.C. •Asking: $5.09M •REV: $1,373,000 •81 Rooms w/Leased Restaurant & Lounge •Waterslide, Sauna, Pool •Located Trans Canada highway with amazing view •Can be converted as franchise MotelHOTEL WITH RESTAURANT & LOUNGE •Asking: $4.99M •Located in very busy Oil, Gas, Forest & Tourism in AB • 62 Rooms, 100 seat Restaurant, 110 seat Lounge,

9 VLT'sMOTEL WITH RV PARK •Asking: $1.57M •42 rooms, 3.89 Acres. •17 RV Site, 5 bedroom Managers suiteTRUCK STOP & RETAIL SPACE IN CALGARY •Asking: $13.5M • Travel facility comprising 45,700 sq ft on a 16.6

Acre site, provides for future re-development

• Strong sales with long history and 19 tenants including national brand name

CAR WASH NEAR CALGARY •Asking: $3.89M •Revenue: $700,000 •7 bay and 1 auto. •Year: 2004.VERY BUSY CAR WASH •Asking: $3.49M •Revenue: $1.1M •8 Wand, 2 Auto, 1 RV BayVERY PROFITABLE GAS BAR & C-STORE •Asking: $3.19M •Revenue: $5,394,767 •Gross Margin: $808,110 •NOI: $480,000 • Do Not miss this great business located in a

very busy townRV SALES PROPERTY • Asking: $1.45M •Triple Net: $108,000,

5 yr and 5 yr option • 4.23 Acres of Hwy commercial land with

7200 sq ft building •Located surrounding development area in central AB

MAXWELL SOUTH STAR REALTY • www.leechoonho.com

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

For More DetailsTel: 403-253-5678

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

Call Now For Details

LINDA BOXALL306.536.1489

Website: www.lindaboxall.com

ADAM NIESNERREALTY (1991) LTD

Regina Beach, SK Main Street Regina Beach. Thriving resort community. Thriving community just a short drive from Regina•Full service restaurant•Pizza Takeout•Fully licensed•Covered Deck Turn key operation, Two lots, building, equipment, training if rquired. Fully operational

ASKING $399,000

Pense, SK Heart of the industrial corridor, Regina west, Global Transportation Hub, Mosaic Potash Mine•3 commercial lots located on Front Street, Pense•84 ft of frontage x 156 ft deep• Ideal for commercial development or multi-

family residential;•Services to property line•Excellent development opportunity

ASKING $109,000

WESTERN INVESTOR JULY 2011 www.westerninvestor.com Alberta/Saskatchewan B23

Ken ShebibMOB +1 780 863 7355

DIR +1 780 881 6297

[email protected]

ECO PARKFort McMurray, AB

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

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

heating, and bay doors

145 MacMILLAN RD.Fort McMurray, AB

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

GROUP OF 11 LANDFort McMurray, AB

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

7 ACRES LANDFort McMurray, AB

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

10020 MacDONALD DRIVEFort McMurray, AB

Proposed office development on 36,400 SF lot, zoned C5,

currently a movie theatre

RESIDENTIAL CONDOMINIUM SITE

Fort McMurray, AB24-unit development permit

22,000 SF INDUSTRIAL BUILDING

Fort McMurray, ABFully leased

INDUSTRIAL BAYS FOR SALE OR LEASE

Ready December 1, 2010Taiga Nova Eco Industrial Park

GRAVEL PITSFort McMurray, AB

SML 070029, SML 020038,

SML 030011, SML 810079,

SML 040002

Hotels

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

+1 780 420 1585www.colliers.com

Fort McMurray Opportunities

Land Opportunities

Retail Investment Opportunity

16,164 SF RETAIL BLDG542-24 St., Fort MacLeod, AB

Fully leased to 5 tenantsFort Plaza

NOI - $162,323

WABAMUN LAKE LANDS151.93 Acres on Lake Wabamun

2,600 feet of prime shoreline property

9.09 Acres Zoned CR

142.94 Acres zoned AGG

Price: $2,920,000

RED DEER LAND404 acres of prime future residential land

8.9 kilometers of river frontage

Recently annexed into Red Deer City Limits

Price: $15,000,000

($37,134 per acre)

30,000 SF BUILDINGPonoka, AB

7 acres, Highway 2 exposure

80 ACRESParkland County, ABCountry Residential,

preliminary developmentplan available

24 ACRESRimbey, AB

Residential & commercial

development on Highway 53

12,000 SF BUILDINGEdmonton, AB

Calgary Trail, office/retail centre,

for sale or lease

Multifamily Opportunity

DAYS INNGrande Prairie, AB

New hotel, 90 rooms, increasing$9,200,000

160 ACRESStony Plain, AB

Area structure plan completed, engineered and ready to go,

financing available

155 ACRESParkland County, ABCountry Residentialdevelopment east of

Stony Plain

7,500 SF OFFICEEdmonton, AB

Whyte Avenue (82nd ave),

for sale or lease

MULTI FAMILY LANDMorinville, AB

4.47 Acres of Multi Family Land

for Sale, up to 99 units available

Land & Building Opportunities

132,995 SF INDUSTRIAL FACILITY

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

available. Abundant yard.

Future CN Rail Service. Flexible

completion options.

Greater Edm. Opp.

Rod ConnopDIR +1 780 969 [email protected]

Evelyn StolkDIR +1 780 969 [email protected]

Perry GerelukDIR +1 780 969 [email protected]

Accelerating success.

Casey McClelland Mark SwaenepoelDIR +1 780 969 3003 DIR +1 780 969 [email protected] [email protected]

102 UNITS SOLDSpruce Grove, AB

Built in 2003, 70% 2 bedroom 2 bath, 5 appliances, elevator

62 UNITS SOLDEdmonton, AB

Extremely large units, all 2 and 3 bedrooms have 1.5 baths,

above grade

83 UNITS AVAILABLEEdmonton, AB

Concrete block, elevator, 70% 2

&3 bedrooms, west end location

15 UNITS PRICE REDUCEDEdmonton, AB

West end location, one block away from approved LRT route,

6 three bedroom suites

www.colliersmn.com\edmontonapartments

15 UNITS AVAILABLEEdmonton, AB

North Central, extremely large and clean units, great mix, new

roof, assumable finance

14 UNITS COMING SOONEdmonton, AB

North location, new PVC windows, 12 - two bedrooms,

upside on rents

BULK CONDOS FOR SALE AVAILABLE

Edmonton, ABBelow market prices, call for details

Amit GroverDIR +1 780 969 [email protected]

Jandip DeolDIR +1 780 969 [email protected]

MOOSE CREEK HOTELEdson, AB

9 rooms, bar with VLTs, lounge &

liquor store

$950,000

Steven PearsonDIR +1 780 969 [email protected]

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

Mark SwaenepoelDIR +1 780 969 [email protected]

Rick ArgueDIR +1 780 969 [email protected]

2004 Sherwood DriveSherwood Park, Alberta

Phone: 780.417.5540www.scrcommercialrealty.com

SCR Commercial Realty

Tom Watt

Jeff Sutherland

Vince Lachance Orville Sleen

Bruce Stubbs James Kelly

Saskatoon Apartment Complex

•72 units in East College Park•Close to U of S and 8th Street Business•3 well maintained 24 unit blocks•Asking $7,300,000.00. Exclusive listing.•Information Package Available.

Contact Earl CooperSutton Group Norland Realty

306-241-7751

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

Accelerating success.

SASKATOON

Gary Compton306 260 [email protected]

• 363,520 SF floorplate on 13.774 acres • Ideal for distribution, warehousing and/or mfg. with high ceilings, freezer, cooler and warehouse

• List Price: $15,900,000 Excl.

302 MELVILLE STREET

Jason Wionzek306 227 [email protected]

FOR SALE

* Ken Suchan (Ken Suchan Realty Inc.) has a contractual relationship with Colliers McClocklin Real Estate Corp.

Ken Suchan306 221 1825

[email protected]

Kevin Johnson306 281 [email protected]

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

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

240-103RD ST E

FOR SALE

• 2.36 acres with IL3 zoning (light industrial business)

• List Price: $826,000 MLS®

3530 KINNEAR AVE

FOR SALE

• Northern Saskatchewan's only coffee roastery!• Located in Prince Albert, Saskatchewan’s

Hot Spot for development • Upscale internet café with Drive Thru!• Wholesale opportunities• 5 & 10 year lease options available• Busy 15th Street East location close to Superstore

& Cornerstone big-box shopping• Training can be arranged• Information package available

www.greatwesterncoffee.caContact Rita Busch at

[email protected] or 306-425-7766

Great Western Coffee Co. - $329,000

B24 Saskatchewan www.westerninvestor.com JULY 2011 WESTERN INVESTOR

Businesses “most optimistic” Saskatchewan businesses are the most

optimistic in Canada according to a recent survey.

The Canadian Federation of Independent Business monthly business barometer, which reveals optimism for the year ahead among small-business owners in Saskatchewan, increased by 4.6 points in March to 75.2 from an index of 70.6 in February, and is well ahead of the national index of 69.2. The report also noted that 30 per cent of Saskatchewan busi-nesses also plan to increase full-time employ-ment in the next three to four months – the highest in Canada.

Other highlights include:

say the overall state of business is good (com-pared with 38 per cent nationally); 44 per cent say it’s satisfactory (47 per cent nation-ally);

plan to increase full-time employment in the next three to four months (20 per cent nationally) and only 4 per cent plan to

cent) is identified as the main business con-straint in Saskatchewan.

Mining plays could top $43MSaskatchewan could see an unprecedent-

ed $43 million invested in the mining sector over the next 20 years, according to the Saskatchewan Mining Association.

Saskatchewan’s Crown Investment Corp. Minister Tim McMillan said potash producers

-ince within the next nine years – and that doesn’t include new potash mines that have

been proposed by major companies.Mining is the province’s third-largest indus-

try, with more than 30,000 employed in the sector and $6.8 billion worth of mineral sales last year.

exploring for minerals, primarily for potash, coal and uranium but also gold, base metals and diamonds. “According to the forecast, another $280 million are expected to be invested in exploration this year,’’ McMillan said.

The mining rush is also being seen in the urban commercial real estate markets. BHP Billiton recently moved its diamond business to Saskatoon from Vancouver, and Mosaic Potash is building its new headquarters in Regina, McMillan told reporters as Mining Week kicked off last month in Regina.

Steve Fortney, general manager at PotashCorp’s Rocanville mine, said PotashCorp is spending close to $6 billion to expand its potash production, including the $2.8 billion expansion project at Rocanville

Meanwhile, Vancouver-based Western Potash Corp. has proposed a giant new potash mine about 35 kilometres south of Regina. A company spokesman, however, said funding has not been assured for the $2.5 bil-lion proposal.

Saskatoon home sales are risingHousing sales in Saskatchewan’s larg-

May, to 423 homes, compared with May Saskatoon Region

Association of Realtors.The average residential selling price in May

year. The increase in the average selling price indicates strong sales activity in the mid-to-upper price range.

Year to date, the average selling price stands at $304,664, up 5 per cent from last year at this time.

Inventory levels continued to stabilize in

homes to select from at the end of the month,

Speculating developers are getting busy in Regina as

the industrial vacancy rate has fallen to a Canada low of

cent increase in supply over the past two years.

“With effectively no avail-able industrial space within the city, tenants have little choice but to build their own space or take advantage of build-to-suit options outside the city limits,” according to a study by Colliers International.

The biggest boost to Regina’s industrial inventory is the completion of the nearly million-square-foot Canadian Logistics Services (CLS) distribution warehouse, the first major tenant at Regina’s 3,250-acre Global Transportation Hub.

The two phases of the CLS project will encompass 965,000 square feet, with the first 423,000 square feet already completed and in use. By last month, traffic increased to about 80 trucks daily coming in and out of the giant complex in west Regina.

that most new developments will be fairly small, multi-tenant buildings of about 20,000 square feet.

acre range, up from the $80,000 average a year ago. Some prime serviced sites in the city are selling for more than $220,000 per acre, however.

foot, and existing space renting for up to $9 per square foot, net, according to Colliers.

municipalities of Sherwood and Edenwold, Colliers notes.

Regina officials open the 965,000-square-foot Canadian Logistics Services distribution warehouse.

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properties have been listed for sale, on par

Saskatoon’s new-home market remains strong, with steady city lot sales taking place, according to the association.

“Interest rates are favourable to purchase that next home and job creation in the Saskatoon area remains steady. The forecast

sales numbers to increase marginally and

for resale prices to move up slightly due to demand,” the realtors group noted.

Meanwhile, the apartment rental vacancy rate in Saskatoon is a fairly tight 2.6 per cent, according to Canada Mortgage and Housing Corp. This is one of the lowest rental vacancy rates of any major Canadian city.

The agency estimates that about 20 per cent of condominiums in Saskatoon, both new and used, are on the rental market, totalling

◆

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Realtors judge hockey’s impact Winnipeg’s realtor community is ready

to hop over the boards.With more than 20 wealthy hockey play-

ers preparing to move to town in the coming weeks, plus coaches and other team officials, realtors are preparing for the kind of market boom that comes with eclipse-like regularity.

Glen Williams, a realtor with Century 21 Bachman & Associates, has been in direct communication with team members and officials since before the May 31st press conference announcing the purchase of the Atlanta Thrashers to True North Sports & Entertainment.

“They have to be here in September. We’re anticipating it’s going to be a busy summer,” he said. “It’s no different than a company relocating 40 employees [to another city]. They need to gather information and deter-mine housing.”

Williams said he anticipates the players will be looking to buy in Winnipeg’s southwest quadrant, which includes neighbourhoods such as River Heights, Tuxedo, Whyteridge and Lindenwoods.

Hundreds of realtors will be hoping to get a piece of the expected hockey action, as the vacancy rate in Winnipeg’s residential rental market is less than 1 per cent.

Williams said he has a good number of higher-end homes, priced between $700,000 and $7 million, which he is preparing to show the city’s newest heroes.

“It won’t take much to stimulate our mar-ket. There will also be ripple effects. As one player buys a home in the $500,000 range, that could cause the seller to move into the $800,000 range,” he said.

According to Winnipeg realtors, there were 122 detached homes available for sale in the city in early June in the $500,000-and-higher category. There were also a dozen condomini-ums in the same price range.

Season tickets sold out fast It took just a few short days for

Winnipeggers to show the NHL that they’re serious about hockey.

The drive to sell 13,000 season tickets in advance of the league’s board of governors’ late-June meeting, where the sale of the Atlanta Thrashers to True North is expected to be approved, was an overwhelming success.

Season ticket and mini-pack holders of the Manitoba Moose, the city’s outgoing American Hockey League team, were given first dibs and bought more than 7,000 tickets. When the sale was opened up to the general public, the remaining ducats sold out in just two minutes. (It took 15 minutes more to pro-cess them.)

The MTS Centre holds about 15,000 people. About 1,000 of those seats are in luxury boxes while the remainder will be sold on a game-by-game basis.

The joke around town is that the most popular pick-up line in bars is, “I’ve got sea-son tickets.”

Stadium name deal struck MTS Allstream didn’t wait until the deal

to buy the Atlanta Thrashers was finalized to extend its connection to the focal point of downtown Winnipeg.

The telecommunications company has signed a deal with True North that will see its name affixed to the MTS Centre for years to come.

Neither the price tag nor the length of the deal has been released but Jim Ludlow, presi-dent and CEO of True North, confirmed the renewed partnership.

“Neither of us saw any way of moving forward other than together. MTS has been a very good partner with us since 2004,” he said.

Prior to the MTS Centre opening in the fall of 2004, MTS signed a 10-year naming rights agreement on the $133.5 million building.

When T rue Nor th Spo r t s & Entertainment chairman Mark

Chipman uttered the following state-ment into a microphone – “I am excited beyond words to announce our purchase of the Atlanta Thrashers. We received the call we’ve long been waiting for,“ – a crowd of Winnipeg residents erupted with cheers, jubilation and ball hockey games at Portage and Main.

It’s been 15 years since the Winnipeg Jets left town for Phoenix and news that the city had re-entered the big leagues had the business com-munity celebrating like it had just scored the Stanley Cup winner in double overtime.

Marina James, president and CEO of Economic Development Winnipeg, said the return of the NHL will trigger millions of dollars in spending on tourism, hospitality and retail. But perhaps the big-gest benefit of all has no price tag – the boost to Winnipeg’s international reputation.

James cited studies that show every time a visitor comes to Winnipeg, he or she spends between $167 and $337 per day, depending on the purpose of the visit. People in town for conventions, for example, tend to spend much more than leisure visitors.

The return of the NHL, while undoubtedly the story of the year for many residents, is really just another milestone in a city on the move, James said. Other significant events on the horizon include the opening of the new $585 million terminal building at James Richardson International Airport this fall, next year’s opening of the Canadian Museum for Human Rights and the new stadium for the Canadian Football League’s Winnipeg Blue Bombers, plus major expansions at both the University of Manitoba and the University of Winnipeg.

Bob Chipman, patriarch of Winnipeg’s first family of hockey, said he has long maintained that the city lacked two things – an NHL franchise and an IKEA store. (IKEA is planning to open its much-anticipated location next year.)

“I think Winnipeg now has equal status with Montreal, Toronto, Calgary, Edmonton, Ottawa and Vancouver as a truly important Canadian city,” he said.

Ludlow said the two companies would announce the details of the naming rights “in short order.”

He said it goes without saying that the new deal will be considerably richer than the pre-vious one as MTS is now associated with one of only 30 buildings in North America where NHL hockey is played.

MTS declined to comment on any deal. Instead, Selina Hinds, the company’s director of corporate communications, said it joined with the rest of Manitobans in celebrating the NHL coming back to Winnipeg.

“The return of the NHL is fantastic news for Winnipeg,” Hinds said.◆

– Compiled by Geoff Kirbyson

Hockey arena will still be named for telecom company MTS Allstream. (TOP) Winnipeg crowd hears of NHL’s return.

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B26 Manitiba www.westerninvestor.com JULY 2011 WESTERN INVESTOR

tinue to play a role in shipping grain through the Port of Churchill? I wish the government would take a closer look at Churchill and the situation we’re in.”

Regardless of what happens on the grain front, Spence said it’s critical for Churchill to diversify its revenue sources. He said it can play a significant role in the mining and metal industries of Nunavut, including shipping fuel and other commodities to help develop the ter-ritory’s infrastructure.

Spence said he’d also like to explore what kind of role Churchill could play in CentrePort,Canada’s inland port in Winnipeg, in terms of shipping goods to Russia, China and India.

Churchill can provide a more direct shipping route by going out through Hudson Bay to the Atlantic Ocean, he said.

“The governments of the day need to real-ize Churchill can play a significant role in the development of Canada and Canada’s north.

hurchill is one of the coldest com-munities in Canada but the new majority government in Ottawa has

got its leader hot under the collar.Mike Spence, mayor of Manitoba’s most

northern outpost, said the Harper govern-ment’s plans to eliminate the Canadian Wheat Board’s (CWB) monopoly on grain could have serious implications on the amount of traffic flowing through Churchill’s port.

Ottawa has already announced that legisla-tion will be introduced this summer designed to undo three-quarters-of-a-century of pooled Prairie grain marketing by the CWB. The sin-gle desk marketing function for Prairie wheat and barley will end by August 2012.

The legislation will mean the end of the CWB and pink slips for more than 400 employees.

Spence said there’s only one way to express how much the CWB means to Churchill.

“It’s huge. It’s 99 per cent of the product going through the Port of Churchill. The other 1 per cent is resupply to the north,” he said.

Spence said the port employs about 20 per

cent of the town’s 1,000 residents. When spin-off industries are included, the importance of the port goes through the roof.

About 650,000 tonnes of grain were shipped through the port in 2010. Taking away a single desk would cause some significant uncertainty, Spence said. Would it take away 50 per cent of the volume? Sixty per cent? Ninety per cent? “That’s what we’re faced with, the unknowns,” he said.

“The Harper government has another agenda for Churchill. Let us know what it is. We’re try-ing to figure that out. Is Churchill going to con-

SPOTLIGHT Churchill fears end of Canadian Wheat Board monopoly will stifle critical grain shipments

GEOFF KIRBYSON

WESTERN INVESTOR

Sure, there needs to be investment. We’re all faced with the challenge, you’ve got to nurtureit. We should be investing in our infrastructureso we can put people back to work,” he said.

Another hot-button issue in Churchill isglobal warming. On one hand, warmer tem-peratures mean an earlier break up of north-ern shipping routes, which translate into anexpanded shipping season. Whereas currentlyshipments flow from the first week of Augustto the end of October, Spence said he foreseesa time when the port is busy from July throughto the end of November.

On the downside, however, the higher themercury, the more difficult it becomes for polar bears to live in their natural habitat. That’s a troubling trend for a community that calls itselfthe “Polar Bear Capital of the World.”

John Gunter, general manger of Frontier North Adventures, which provides polar bear tours in “tundra buggies,” said there will bepolar bears in the West Hudson Bay area foras long as he’s alive. It’s his great, great, great grandchildren that may have to deal with theconsequences, he said.◆

A longer ice-free shipping window had looked promising for Canada’s most north-ern port. Then the feds stepped in.

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Tim Hortons CEO steps down

The sudden departure of

Tim Hortons Inc. president and chief executive Donald Schroeder may sig-nal a pull back in the company’s ambi-tious U.S. expansion strategy, a retail analyst said. Tim Hortons has nearly 600 restaurants in the U.S. and has said it will open about

300 new outlets by 2013, primarily in its existing markets of Michigan, New York and Ohio. Late last year, the restaurant chain closed 36 restaurants and 18 kiosks, primar-ily in New England.

“Everything could be on the table,” said Kenric Tyghe of Raymond James. He said the coffee and doughnut chain’s core business in Canada has suffered as the franchise com-pany focused on a U.S. expansion that Tyghe called “too big and too audacious.” He added the Oakville-based chain has faced challenges in establishing its brand in U.S. cities as it competes with established restaurants such as Dunkin’ Donuts and Starbucks in a difficult economic climate.

But Brain Yarbrough, retail analyst at Edward Jones in St. Louis, MO, noted the U.S. push was approved by Tim Hortons under executive chairman Paul House, who has pre-viously held the CEO post. House takes on the role of interim CEO until a replacement for the 65-year-old Schroeder can be found.

Tyghe said the company plans to invest heavily in promoting its brand in the U.S.

News, views and updates on Canada’s franchise industryU.S. retail giant Target Corp. has

named the first 105 locations it will banner after taking over the Zellers chain from Hudson’s Bay Co. The stores, including 34 in Western Canada, will open in 2013 after undergoing renovations and rebranding.

B.C. will account for 15 Target stores, including Oakridge Centre in Vancouver, Metropolis at Metrotown in Burnaby, Coquitlam Centre, Scottsdale Mall in Delta, Willowbrook in Langley and Haney Place in Maple Ridge. Abbotsford, Chilliwack, Victoria’s Tillicum Mall, Nanaimo and Campbell River will also get stores.

Alberta will have 13 Target stores, including three in Edmonton. There will be four Targets in Winnipeg, and one each in Regina and Saskatoon. The chosen locations will continue to operate as Zellers stores before closing for six to nine months and reopening as Target stores.

RioCan Real Estate Investment Trust, one of Canada’s largest retail landlords, said 21 of its 34 locations with Zellers stores were on the initial list.

“This transaction will bring tremendous potential for repositioning and the opportunity to further enhance value and cash-flow growth in our centres,” RioCan president and chief executive Edward Sonshine said in a statement.

Primaris Retail Real Estate Investment Trust owns five locations, while Homburg Canada Real Estate Investment Trust owns three spots in Quebec. Morgaurd and Morguard Real Estate Investment Trust own 12 of the mall locations.

Under the deal signed earlier this year to take over up to 220 Zellers locations Target said it will select additional locations this fall. Hudson’s Bay has 279 Zellers locations. Stores that Target does not want could be sold or remain in the hands of the Bay. Target said it plans to spend about $10 million on each store to renovate and remodel before opening.

Target has established its 180,000-square-foot Canadian headquarters in Mississauga, Ont., just west of Toronto, which is expected to open next year.

With revenue of more than US$67 billion in its last fiscal year and 1,755 stores in 49 states, Target has approximately 355,000 employees and is the second biggest discount retailer in the U.S. after Wal-Mart Stores Inc.

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Target will open 34 stores in Western Canada, including 15 in B.C.

Franchisor blames HST for closureVictoria restaurateur Terry Vassiliadis is

blaming the haromized sales tax (HST) for the closing of his first franchise under the Eugene’s Greek Restaurant banner.

“I haven’t given up on the dream of fran-chising,” Vassiliadis said, “but who would want to get into the restaurant business in B.C. when there are no profits anymore?”

His only franchised location is slated to close and the two corporately owned restaurants that he and his brother own are losing money.

In April 2010, 3,321 people ate at Vassiliadis’ Shellbourne Street location in Victoria and each spent an average of $13.25 before tax. This past April, 2,409 people ate at the restaurant and each spent an average of $12.54 before tax, he said.

“The HST had an overnight effect,” he said. “People are holding onto their money, and they’re not coming as frequently.”

Statistics Canada numbers, however, show that although British Columbians spent less on restaurant meals in each of the first three months following the new tax’s implementa-tion, spending increased in each of the next three months compared with the previous year.

According to Statistics Canada, restaurant spending in the last half of 2010 in B.C. was down about two one-hundredths of a per cent to $3.907 billion from about $3.908 billion in the last half of 2009.

Soul buys 204 KFC outlets Yum! Restaurants

International, Canada and its KFC brand has found a new soul mate in its

most recent Canadian franchise partner, Soul Restaurants Canada Inc., an affili-ate of London, England-based Soul Foods Group, which has a 30-year successful track record with the KFC brand.

Soul Foods Group took over the manage-ment of 204 KFC restaurants in B.C. and Ontario through its Canadian affiliates this June, after YUM! ran into financial trouble with the fast-food outlets. Soul already operates more than 45 KFC restaurants in

the United Kingdom.“Due to the continued decline in same-

store sales during 2010 in both the KFC and Taco Bell brands the company was unable to complete the required investments in facility upgrades,” according to a Yum! statement

Aly Janmohamed, president, Soul Foods Group, said an “extensive renovation and innovative new products” will be seen at its KFCs in Canada.◆

– Compiled by Kevan O’Brien

Former Tim Hortons Inc. president and chief executive Donald Schroeder.

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Western Investor July 2011 Section B

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