western investor january 2011 section b
DESCRIPTION
Commercial Real Estate, Franchises and Business Opportunities in Western CanadaTRANSCRIPT
19 STIMULATING GRANDE PRAIRIEPublic spending boosts fortunes of Peace city
$ 4 . 2 9 J A N U A R Y 2 0 1 1 V o l . 2 6 / I s s u e 1INTERIOR B.C. • ALBERTA • SASKATCHEWAN • MANITOBA SECTION
7 OFFICE SPACETIGHTER IN 2011Surprising lease actionsets tone for New Year
29 QUICK, FINDBELLE PLAINE Tiny village circled by global players and giant manufacturing plants
▲
Jamie Menzies, president of the Grande Prairie Association of Realtors: $600m hospital will help
PUBLICATIONS MAIL AGREEMENT 40069240
RETURN UNDELIVERABLE CANADIAN ADDRESSES TO CIRCULATION DEPARTMENT:
102 EAST 4TH AVENUE, VANCOUVER, B.C. V5T 1G2
Calgary Office#211, 4014 MacLeod Trail South, Calgary, AB T2G 2R7 • Phone: (403) 214-2344 FAX: (403) 214-0244
BUILT ON THE POWER OF OUR NETWORK. OVER 355 OFFICES WORDLWIDE.
FOR SALE/LEASE1499 - 17 Avenue SW Calgary
Size - 2,444 sq. ft.Asking Price - $1,000,000Lease Rate - $26.00 p.s.f.
Shane OlinTel: (403) 708-9086
Wing TangTel: (403) 291-8872
Shane OlinTel: (403) 708-9086
FOR SALE- 17,600 sf in Calgary: retail/apartment building - Fully Leased- 7,000 sf in Calgary: retail/industrial building - Fully Leased- Development Opportunity - Okotoks - 16,000 sf- 2 Acre Multi Residential Site - Calgary Region - Foreclosure- 8,000 sf High Density Dev. Site - Calgary Core - Foreclosure
Daniel GoldstromTel: (403) 291-8864
RED DEER INDUSTRIALFully Serviced Lot 1.58 Acres +/-
Terms Available
www.naicalgary.com
FOR SALE/LEASE97 Prairie Place SE, Calgary
Size - 4.7 AcresAsking Price - $1,699,000Zoning - Light Industrial
Shane OlinTel: (403) 708-9086
Daniel GoldstromTel: (403) 809-8326
BUSINESSES FOR SALEFLOOR COVERINGS - CALGARY AREAEstablished more than 20+ years. Stable staff, long term customers. Revenue $5M & steady. EBITDA over $400K and steady. $995,000 plus working cap.HVAC MANUFACTURER - ALBERTA2011 revenue est. $4M and profitable. Custom air handling manufactuer. In business over 20 years. Direct and indirect fired air. Under $1.7M earnout considered.EQUIPMENT RENTAL - PRINCE GEORGE REGION20 years in business. Revenue $1.25M, 5 yr weighted EBITDA $569K. Equipment FMV $1.5M (NBV $654K). Purchase land and buildings option. $1,549,000
Contact: Craig TennockTel: 1-877-880-7290
[email protected] • www.naibusinesses.ca/craig
INVESTMENT OPPORTUNITIESSOUTHERN ALBERTA HOTELS AND MOTELS
- Three motels can be purchased as a portfolio or separately. Total over 300 rooms 8% cap rate on existing cash flow
- 160 plus room full service hotel 80% plus occupancy Very attractive Capitalization Rate
AUTOMOTIVE SERVICEWe have a selection of gas bars with convenience stores as well as some with additional services including liquor stores, RV pads, storage etc. available in Southern Alberta. Numerous other opportunities available in Western canada. All information on these opportunities will be treated on a proprietary and confidential basis.
Contact: Jim BalfourTel: (403) 291-8860
Contact: Tim AndersonTel: (403) 291-8866
Jim CourtneyTel: (403) 291-8873
BUILDING FOR SALE• Trendy Lower Mount Royal area, Calgary• Totally Renovated & Remodelled in 2008• Outstanding Level of Finishing• Fully Furnished Suites• Current Tenants are mix of short & long term• Approved for Condos
Asking $4,000,000
FOR SALE/LEASEOne of the Last Character
Beltline Opportunities! Built in 1906, 3 stories, 2,717 sq. ft., 4
parking stalls, huge traffic, huge exposure with 40,000 vehicles
going by daily
Sean FillionTel: (403) 291-8871
Dean Bethune, C.A. Business Brokerage SpecialistPh: (403) 291-8857 Cell (403) 585-3326
Electrical Contractor Specialize in commercial construction and renovation.
Generated EBITDA of $257,000 on revenue of $5.0 million. Includes working capital of $500,000 & equip. of $200,000
Purchase Price $1.1 M
R E C R E A T I O N A L R E A L E S T A T ER E CR E CE C R E AR E AR E A T I OT I OI N A LN A LN A L R ER ER E A LA LA LA L E S TE S TE S T A T EA TA T EA T EHOT PROPERTIESSPECIAL SECTION • B14
B2 Interior British Columbia www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR
Colliers InternationalCentre GroupCommercial RealtyKelowna, B.C.250.763.2300
www.colliers.com/kelowna
Colliers InternationalCentre Group Real Estate ServicesKamloops, B.C.250.372.7000
INCOME PRODUCING - VERNON PRINCETON INDUSTRIAL ESTATES
Call broker for pricingMIKE GEDDES
park
DOWNTOWN KELOWNA DEVELOPMENT
Priced at: $1,790,000MIKE GEDDES
List Price: $3,000,000ERIC WEBER (Personal Real Estate Corp)
AVALON INN - OSOYOOS
PRIME DEVELOPMENT SITEWINFIELD TOWN CENTRE
List Price: $1,995,000 Priced at: $8,999,000
CHAD BIAFORE
MARSHALL MCANERNEY (Personal Real Estate Corp)
JEFF HUDSON (Personal Real Estate Corp)
MULTI - FAMILY LANDSummerland Waterfront
Vernon
$6.0 MSt. Andrews
MARSHALL MCANERNEY (Personal Real Estate Corp)
CHAD BIAFORE
RETAIL STRIP CENTRE -VERNON 760 LAVAL CRES. KAMLOOPS
Priced at $2,500,000JEFF HUDSON (Personal Real Estate Corp)
MARSHALL MCANERNEY(Personal Real Estate Corp)
Priced at: $1,485,000LARRY GOOD
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
Larry Berisoff Associate Broker
Wes McInnes Sales Associate
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
Larry BerisoffAssociate Broker
CHRISTINA LAKE- New!
VANDERHOOF
POWELL RIVER
WILLIAMS LAKE
DEVELOPMENT PARADISE
LYTTON
SALMON ARM - Reduced!
RADIUM HOT SPRINGS
VALEMOUNT
SLOCAN VALLEY
GRAND FORKS
#100-1553 Harvey Ave., Kelowna, BC V1Y 6G1
6,337 SQ FT COMMERCIAL BUILDING FOR SALE
Located in an area which is increasingly being re-developed into an upscale commercial area using the concessions provided by the City of Kelowna for redevelopment of the Town Centre core of the Rutland area. Fee simple land. 13 parking spaces on the property. Possibility splitting this building, maintaining a tenant base on both floors. Available: $1,795,000 MLS®
In business since 1990. Production area is 900 sq ft with attached 1200 sq ft warehouse - includes the office. Production area houses stainless steel filling line - automatic piston filler, conveyor belt, semi-automatic capper, loader table, accumulating table, cooking kettles, triple sinks and shelves. Warehouse accommodates. +/- 19.70 acres. Included in purchase price - 10 lot “Quail RV” park with water and sewer, 30 and 50 amp service with internet availability and laundry. Available: $2,800,000 MLS®
2 Floors of Commercial mix available with unit spaces ranging from 690 to 2,000 sq ft bays offering up to 5,700 sq ft on the main floor and 690 – 6,160 sq ft on 2nd floor.. The proposed escalating rates start at $15.00 psf with a Tnet of $3.50 psf. Anticipated building completion is June 2011. Available: $15.00 psf plus NNN MLS®
BRAVA Under construction. Situated at the corner of Carrington and Gellatly Roads in the heart of Westbank. 2 Commercial, 3 Residential Strata units for sale – passive investment. Occupancy June 2011. Call Ken or Kris for all the details
30.82 ACRES TRANS CANADA HIGHWAY
4 km’s West of Revelstoke. Previous use as a wood mill. Lots of potential uses – Industrial or rezone to the “Perfect Campground”. Seller Says “Sell It”. M3 zoning – Heavy Industrial. Available: $599,000 MLS®
JIM BAILEY ROAD LAND OR BUILDING COURT ORDERED SALE: Land - 1 acre of I-2 light industrial land with water & sewer nearby included proposed architectural & engineering plans for new development. Lot was the parking area for the office building. Also a 10,828 sq ft office/warehouse building, with extensive improvements in place on .99 acre. Minutes from Airport. Many options on this site. Available For Sale: $790,000 & $945,000 MLS®
Sq Ft from 1,349 to 3,119. Construction is precast concrete. Radiant heating, 20 ft. ceilings & 14 ft. insulated overhead doors. Easy access to Highway 97, Kelowna Intl Airport, the University and Quail Ridge golf course and subdivision. CD15 Airport Business Park Zoning. For Sale: $249,565 - $331,705 MLS®For Lease: $10.00 - $12.00 psf plus TNet MLS®
FOR SALE OR LEASE – AIRPORT
BUSINESS PARK
CONSOLIDATION COMPLETE 12 LOTS AVAILABLE FOR SALE FOR
DEVELOPMENTProperty would include a 6 storey commercial building and a 5 storey mixed use building. The commercial component of the project would have a one storey retail base with 5 storeys of office space while the mixed use component has a 1 storey retail base with 4 storeys of residential development. The required parking will be located entirely within a 1 storey underground parkade. The gross building areafor this development site would be approximately +/- 180,000 sq. ft.
Available: $4,990,000 MLS®
NEW PRICE
WEST KELOWNA - INDUSTRIAL STRATA FOR LEASE
West Kelowna - Industrial Strata for LeaseTwo units available for lease each one +/- 1,752 sq ft. New building with occupancy November 2010. 14’ overhead doors, 22’ ft clear to underside of truss. Inside ceiling height could accommodate a mezzanine. Property will be landscaped and include night lights. These 2 units (back to back) could be combined for +/- 3,504 sq ft. Available: $11.00 psf plus NNN MLS®
NEW LISTINGNEW LISTING
MANUFACTURING OF
NATURAL GOURMET FOODS
PRE LEASING OF APPROXIMATELY 11,860 SQ FT IN
RUTLAND
6 0 4 - 6 6 9 - 8 5 0 0 o r 1 - 8 0 0 - 6 6 1 - 6 9 8 8 f a x : 6 0 4 - 6 6 9 - 2 1 5 4 i n f o @ we s t e r n i n ve s t o r. c o m w w w. w e s t e r n i n v e s t o r . c o m 1 0 2 E a s t 4 t h A v e n u e , Va n c o u v e r , B . C . V 5 T 1 G 2
2–11
12–25
26–30
30-31
HOT PROPERTIESFEATURES19
Government spending adds new hospital, and confidenceDownload a PDF of all our Regional Roundups online at www.westerninvestor.com
7 Calgary sees upturn in office demand, Saskatoon in industrial
13 Victoria project the first to use shared sales in urban context
29 More manufacturing plants open as highway links expand
COLUMNS11 23 27 30
On the coverJamie Menzies of the Grande Prairie and Area Real Estate Association: city has more than low prices. Photo: Rob Ganzeveld/FX Photographic Inc.
B4 Interior British Columbia www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR
OK ANAGAN – B .C . INTER IOR I N V E S T M E N T O P P O R T U N I T I E S
VADIM KOBASEWC O M M E R C I A L R E A L E S TAT E S P E C I A L I S T
250-492-2233 / 1-800-567-6770RE/MAX FRONT STREET REALTY, PENTICTON, B.C.
COURT ORDERED FORECLOSURE SALEINDUSTRIAL BUILDING
SUMMERLAND
Asking $1,995,000
JUST LISTEDNEIGHBOURHOOD MALL
Asking Price $1,795,000
2.13 ACRE DEVELOPMENT SITE
Asking Price $850,000
NEW LISTING – 21.8 ACRES PRIME HOLDING PROPERTY
Asking Price $3,150,000
MOBILE HOME PARK MERRITT
LAND – OSOYOOS
Asking Price $1,595,000
LAKESHORE DEVELOPMENT
-
$2,900,000 ®
NURSERY
$1,600,000 ®
ACREAGE/RANCHES
$6,495,000 ®
GAS BAR
$559,000 ®
$765,000 ®
COMMERCIAL/INDUSTRIAL
$298,000.
$349,900
-
$988,000 ®
$2,250,000 ®
$5,500,000 ®
MULTI-FAMILY SITES
$1,450,000 ®
$750,000 ®
RETIREMENT COMMUNITY – PLAN NOW!\
$299,000
1-800-317-1118 or 1-250-549-7050www.okanaganhomes.com
Fax: [email protected]
5603 27 St., Vernon, BC V1T 8Z5
PRISCILLA & CO.Re/Max Vernon
VERNON & AREATRADES CONSIDERED ON SELECT PROPERTIES
DWIGHT VOSphone: (250) 554-4511
toll free: 1-866-456-0577 BEST-WEST REALTY LTD. KAMLOOPS
email: [email protected]
BUSINESS AND INVESTMENT OPPORTUNITIES
– Suitable for investor or owner/operator. Includes land & buildings.
– 4 units in 1 building, established tenants with commercial leases in place. $319,000
- 130 acres, with highway and railroad access. Reduced to $995,000
– 162 acres, deluxe residence. BC Interior location.
– Prime Location, close to Downtown and University. Extensive Renos done. $525,000
DEVELOPMENTAL LAND AND
GOLF COURSE FOR SALEIN THE BEAUTIFUL
BC INTERIOR
162 Acres 9-Hole Golf Course Club House Residence
BEST-WEST REALTY LTD.250.554.4511
Dwight Vos250.371.7992
Tracy Mackenzie250.318.2938
BUSINESS LOANS & MORTGAGES
Taylor Capital Inc.
R.N. (Ron) Palmer CIM, AMP Phone (250) 446-2868Email: [email protected]
www.ronaldpalmer.com
A no obligation assessment is just a call away.
Proudly arranging financing for B.C. businesses since 1998
NEED LIQUIDITYFinancially secure development company looking for investment
opportunities in distressed properties or projects, preferably multi-residential or commercial.
Willing to work in partnership.Email info to:
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
WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com Interior British Columbia B5
w w w . d a v i d j u r o m e . c o mDAVID JUROME 250-862-1888
19 ACRES South East Kelowna beautiful flat hay land with full irrigation water. Two homes, large barn, detached garage. Only 10 minutes to downtown. Seller will consider lower priced Kelowna home on trade. $1,900,000. MLS®
32 ACRES Set up for horses. Spectacular views of Kalamalka Lake. Located between Kelowna and Vernon. Has 20 acres of irrigation water. 3 bedroom home + large livestock barn. Zoning will permit 2nd home. $1,290,000 MLS®
84 ACRES Extremely private setting just 15 minutes to downtown Kelowna. Custom built home, and wilderness retreat. 28 x 28 ft garage with in-law suite. Good well water + water rights on Bear Creek. $1,390,000 MLS® Open to Offers!
149 ACRES Mature timber stand. Has 3 bdrm panabode home. Zoning permits second dwelling. Has subdivision potential. Mission Creek frontage. Open to offers, asking $745,000!!
160 ACRES Oyama Rock Quarry for pink granite rock. Located between Vernon & Kelowna. 3 legal Titles. Panoramic lake views! Highway 97 exposure. Seller will consider trades and may carry financing. $1,450,000 MLS® Open to Offers!
KELOWNA & OKANAGAN ACREAGES
KAMLOOPS, BC & AREAInvestors – 3 Prime Commercial Strata Units:
Pub, Liquor Store, Restaurant
$600,000Restaurant
$90,000 Retire or ?
$795,000Mini Mall
$450,000Warehouse for lease.
Land & Building for sale.
$875,000 4000 sq ft Free Standing Building
$10.00 per sq ft plus triple net
Call MARVIN [email protected]
www.realestatekamloops.ca
Property taxes too high? • Is your Property Assessment value fair?
• Is your assessment value equitable?
• Is your property tax classification correct?
• Have you received all available property tax exemptions?
• Should you file an appeal?
With over 20 years of property assessment appeal experience, PacWest Commercial Real Estate Advisors specialize in the annual Review and Appeal of property assessments, property tax minimization strategies as well as Property Transfer Tax appeals throughout British Columbia.
Proactive Service, Proven Results
PacWest Commercial Real Estate Advisors T: 866-764-9147 F: 888-764-9143E-mail: [email protected]: www.pacwestrealestate.ca
Tim Down, AACI, P. APP, CAE, RI(BC)Property Tax Services
Deadline for appeal is January 31, 2011
2011
Offi ce: 250-372-2277Email: [email protected]
For Sale or For Lease
OPPORTUNITIES:
Mona M. Murray Dip. ULE, RI (BC), CPM
www.mcmrealestate.ca
FOR SALE BY OWNER
250.832.5926
Glacier Park LodgeRoger’s Pass, BC
$3.2 Million
Revelstoke LodgeRevelstoke, BC$3.1 Million
MERRITT, BCFormer Taco Del Mar $24,900
Quick Sale Price High Traffic Area
Selling this Turnkey Restaurant Location
Over $100,000 of Equipment 22 Seats, Lease to be negotiated
B6 Interior British Columbia www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR
Each office is independently owned and operated.
Each office is independently owned and operated.
...IN LAC LE JEUNE, BC. Only 3 hrs from Vancouver, 20 min from Kamloops. 10 yr old exceptionally well kept timber frame home boasts 3,000 sq. ft. finished. Radiant floor heating in etched concrete floors. 3 bathrooms, gas fireplace, jetted tub, great lake views, outdoor sauna, large double heated garage. All on 1 fenced acre. Fishing, boating, swimming, biking, hiking, skiing etc. "All at your doorstep." Price $499,000
=================================3.88 ACRES HIGHWAY FRONTAGE
Hwy. AF-1 zoning allows for fruit stand & residence. Water irrigation from river. Great view.Price $450,000
=================================REVENUE PRODUCING PROPERTY
5,000 sq. ft. single level building with 10' high ceiling. 0.5 acres fronting on #1 Highway. Office space plus large open area. Zoned Light Industrial. Existing tenancy until November 2011. Price $300,000
For More Details Contact
BILL ALBERS250-374-3331
RECREATIONAL GET AWAY...
KAMLOOPS & AREA
RE/MAX Kamloops, BC
email: [email protected] website: www.maryihme.com
Office: 1-250-495-7441Toll Free: 1-866-495-74418507 Main Street, Osoyoos BC V0H 1V0
MARY IHME RE/MAX Realty Solutions
6015 LAKESHORE DRIVE $849,000 MLS®Prime corner lot with over 300' of Hwy 3 frontage across from the Best Western & Rattlesnake Canyon Amusement Park. C3 zoning with 2,340 sf metal clad building, office space above set on .70 acre fenced flat lot. Consider for gas bar, convenience store, auto sales & repair, restau-rant etc. Excellent exposure for any business.
8121 MAIN STREET $649,000 MLS® .31 acre downtown lot includes main level commercial and up to 3 more stories for multi family residential use permitted. C1 downtown commercial zoning-plans avail-able showing 18 residential units approved in 2006. Located across from Watermark Hotel, some lake views.
OSOYOOS
PLUMBING BUSINESS, OSOYOOS, BC $99,000 20 year established home based busi-ness, well respected with long term customer base. "Workshop on Wheels", equipment & inventory included as well as client list. Seller will work with new owner for one month to assist in transition. A turn key operation. Owner wants to retire.
STEWART PEARSON GARY FRANCKS
1-800-667-20401- 250-549-4161
3200 - 30th Avenue
4708 - 34th Street
2500 - 53rd Avenue
VERNON, B.C.
DONE DEALSNew! Done Deals editorial feature will highlight deal fl ow in Western Canada.
Show the market what is moving and who is moving it. The monthly report will highlight major (basically 50K square feet or more; or land deals of $2 million or more) commercial real estate transactions that have closed within the last 30-45 days in Western Canada.
www.westerninvestor.com 1-800-661-6988
Please send us the following information:
• What was sold or leased?
• Who was the vendor (if possible)?
• Who was the buyer/tenant?
• If the name of the buyer is confi dential, please tell what type of buyer (i.e., REIT, institutional, local investor, foreign investor, owner/builder)
• Who was the listing agent/agency?
• What was the selling price?
Please forward this information directly to: Frank O’Brien, Western Investor Editor at [email protected].
FRANK O'BRIEN Editor
Attention
Agents:
REACHQUALIFIED
BUYERSFOR YOURLISTINGS
call Gary Takahashitoll-free: 1-800-661-6988
tel: (604) 669-8500 or fax: (604) 669-2154
WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com B7
ICI OUTLOOK Calgary offices suddenly hot, but Saskatoon and Regina lead the Prairie industrial pace
Please see Next page B8
DAVE HUSDAL/WI STAFF
WESTERN INVESTOR
he office real estate markets in Alberta’s two big cities appear to be heading in different directions as
the oilpatch picks up steam while the provin-cial government tries to contain its deficit.
In volatile Calgary, the recovering oilpatch has been gobbling up office space above initial expectations.
Colliers International reports that Calgary’s office vacancy rate fell to 13.75 per cent at the end of the third quarter, down from 15.2 per cent three months earlier.
What’s more, Colliers is now predicting that rate will fall to 11.6 per cent in 2011, and only jump to 13.4 per cent in 2012 when The Bow opens, and Encana and Cenovus Energyemployees move into the tallest Canadian office tower west of Toronto.
It wasn’t that long ago when there were pre-dictions Calgary’s office vacancy rate could hit close to 20 per cent in a depressed economy with completion of The Bow and a lack of backfill tenants for vacated space.
Office vacancy rates in Edmonton remain lower than those in Calgary, but they’re head-ing up, rather than down, according to both Colliers and Avison Young.
In its third-quarter research report on Edmonton’s office market, Avison Young said the vacancy rate rose from 8.3 per cent to 9.6 per cent. Rising vacancies from negative absorption have put downward pressure on lease rates in the capital – pressure that comes also from more space ready for occupancy.
“Landlords in the financial core are mitigat-ing their risk and exposure now in preparation for the expected 3 per cent hike in vacancy upon the opening of the Epcor Tower in 2012,” Avison Young noted.
“Competition to win tenancies continues to put downward pressure on lease rates across
all sectors of the Edmonton office market and it is anticipated that net lease rates could fall by another 10 per cent to 15 per cent over the next 12 months. Record-high tenant induce-ment packages are being used to entice poten-tial occupants to relocate while maintaining acceptable rental rates.”
The average Edmonton office rental rate was sitting at around $17 per square foot in the sec-ond quarter of 2010.
If Edmonton office vacancies hit 12 per cent, it could be even with Calgary by 2013.
It was only a year ago that Colliers was peg-ging Edmonton’s skyline office vacancy rate at 6 per cent.
Asking prices for the best Class AA build-ings in Edmonton have fallen back to $30 a square foot from over $35.
In the industrial market, things are also tight-ening up in Calgary. Colliers says the city’s industrial vacancy rate fell in the third quarter of 2010 to 4.8 per cent from 5.3 per cent three months earlier.
“This decline is the market’s third consecu-tive quarterly decrease in vacancy and indicates that the industrial market in Calgary is rela-tively healthy,” Colliers said.
Sales of Calgary industrial buildings have been relatively slow, and Colliers expected the number of sales for 2010 to be below average. Land values have remained relatively flat, with northeast parcels still the most costly at $800,000 an acre.
Edmonton’s industrial market has also seen vacancy rates fall in the third quarter of 2010
to 4.4 per cent. Demand could spike sharply, however, if the price of oil hits US$100 a bar-rell (it was at $84 at our press time).
“Stability in commodities, and specificallyoil, has resulted in an increase of industrial activity in the Edmonton area over the past sixmonths,” commented Avison Young principalRob Iwaschuk. “Rental rates have stabilizedand developers are now looking to once againput their shovels in the ground and begin con-struction on new business parks.”
“Saskatoon and Regina continue to lead Canada with the lowest industrial vacancy rates” said Tom McClocklin, presiden t
of Coll iers McClocklin ,Saskatoon. “Demand for indus-trial space remains strong and given our economy, we expectthis demand to continue into 2011.”
The industrial vacancy rate is2 per cent in Saskatoon and 2.5 per cent in Regina, or about halfof what it is in Alberta’s major
cities. The strength of the Saskatoon industrial
market is fuelled by strong lease activity and a number of owner-user developments in the city-owned Marquis industrial park. In the third quarter of last year, more than 450,000 square feet of industrial space was leased up,McClocklin notes.
Due to low interest rates and relatively high industrial lease rates the majority o f2010 construction has been characterized by owner-users. In recent months there has been a resurgence of speculative construction as developers recognize that inventory is not meeting demand.
The Marquis park is an indication o fSaskatoon’s industrial muscle. When the
TOP When Calgary’s Bow tower completes it is expected to drive the downtown office vacancy rate back to the 13 per cent range. RIGHT Saskatoon has the lowest industrial
vacancy rate in Canada at 2 per cent.
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Asking $2,399,000 share sale.250-378-7378
or e-mail [email protected]
Kamloops, BC38 Unit Motel in Aberdeen
OWNERSHIP OPPORTUNITY – BUILDING SUPPLY STORE IN BC –
Own your own IRLY Building Centre dealership. We are seeking entrepreneurs to be part of BC’s largest building materials and hardware chain. We offer advertising, computer & merchandising support. New and existing locations. Partnership opportunities available. Dealer - owned co-op. Receive rebates & patronage dividends.
Contact Brad Dixon or Susan Robinson @ 1-800-663-3342 www.irlybird.com
REVENUE PROPERTY FOR SALE
IN WEST KOOTENAY REGION IN THE COMMUNITY OF GENELLE
ON THE BANKS OF THE COLUMBIA RIVER
Adult mobile home park with 12 pads on 7 flat acres including 1400 sq. ft. home with a separate basement suite and an in-ground swimming pool. $1.3 MILLION.For information call Sid or Marianne 250.693.2436 To view: http:// joerichproject.com/crockett/
67 unitsRestaurant Indoor Pool
For Sale by Owner
MOTELKamloops, BC
250-371-1055
-
$5,200,000 Will cooperate with realtors
SELLSelling your business? Western
Investor Business Opportunity pages are organized geographically so read-ers can find the opportunity they want.
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604-669-85001-800-661-6988
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Investor. Every month you’ll find over$2 Billion worth of opportunities.
B8 Interior/Northern British Columbia www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR
1ST TRAIL REAL ESTATE LTD.
(250) 231-5222 (CELL)
(250) 368-5508 (FAX)
COLDWELL BANKER COMMERCIAL WORLDWIDE
www.cbcworldwide.com www.coldwellbankertrail.com
$1,990,000 HOTEL & LIQUOR STORE & RESTAURANT
C-STORE, GAS BAR, LIQUOR STORE, POST OFFICE
$799,000
FORMER GROCERY STORE WITH APARTMENT
PRIME DOWNTOWN LOCATION $124,900SENIORS GOLDEN LIFE
20 UNITS IN EXCELLENT CONDITION NICE
RIVERSIDE LOCATION$2,990,000
$649,000
MINI STORAGE$549,000
FIBRE GLASS TANKS, NEW PUMPS
ROSSLAND, BC MULTI FAMILY SITE 22 LOTS – CLEARED
FURNITURE & APPLIANCE
$1,990,000
LAND, BUILDING, BUSINESS 37,500 SFOF NEWER BUILDING
POTENTIAL CO GEN PLANT100 ACRES
Large Industrial SiteMajor Power Line
Gas LineRail Line
$750,000
LARGE CONSTRUCTION PROJECTS UNDERWAY IN OUR AREA
NEWLY RENOVATED RESTAURANT AND ROOMS. VENDOR WILL CARRY 1ST
MORTGAGE AT A COMPETITIVE RATE.$1,490,000
COURT ORDERED SALECONDO PROJECT
5.8 ACRES ON THE COLUMBIA RIVER
CALL US TODAY ON THIS GREAT OPPORTUNITY
Details at: www.cb.yk.comContact Jim Weller
92 man camp and mess hall
Good quality office building
NORTHERN BESTSELLERSHay River, NWT
from B7city put 24 lots on the market early last year, they sold out at between $295,000 and $345,000 per acre. By mid-year, prices had risen to $385,000 to $480,000 per acre when 10 new lots were released. Despite an average price increase of over 20 per cent, the city has sold seven of these 10 lots.
Saskatoon industrial rental rates are between $11 and $13 net per square foot for new con-struction and $8.50 and $10 net for existing facilities, among the highest in the country.
Colliers McClocklin expects industrial vacancy to increase briefly with the completion of several speculative construction projects in 2011, but believes available space will persist at historically low levels.
Regina’s small – 1 million square feet of Class A space downtown – office market is ridiculous-ly tight, pegged at around 1 per cent vacancy by Colliers. Only two new buildings, one Class A and one Class B, are under construction. Largest is the Mosaic tower, with 190,000 square feet. This, and the 80,000-square-foot B tower at the corner of Albert Street and 11th Avenue, will complete this year.
Class A office lease rates in Regina are in the $23 range, but are expected to rise slightly this year.
Winnipeg has 10.1 million square feet of office space in the sprawling downtown, after completion of the first new tower – the 600,000-square-foot Manitoba Hydro build-ing – last year, plus some smaller buildings.
The overall office vacancy rate is 7.8 per cent,reports a study by Cushman & Wakefield,which notes the Class A downtown vacancy rate is 6.2 per cent, but sublet space comingto the market this year will keep suurban ratesfairly high.
More core construction is expected in 2011-12 because “a number of larger tenants are waiting for large blocks of premium space,”Cushman & Wakefield forecast. Winnipeg’sdevelopment agency, CentreVenture, is offer-ing tax incentives to encourage downtowndevelopment. Class A office rental rates areforecast to stay flat in 2011, in the $22-to-$29-per-square-foot range.
Winnipeg has an industrial vacancy rate at3.7 per cent, third lowest in Canada behind Regina and Saskatoon.◆
City Office vacancy rate 2010 Office vacancy rate 2011
Edmonton 9.6 per cent 11.7 per centCalgary 13.7 per cent 11.6 per centRegina 1.1 per cent 2 per centSaskatoon 4.6 per cent 4.4 per centWinnipeg 7.6 per cent 8 per cent
Source: Cushman&Wakefield/Colliers/Western Investor
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WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com Northern British Columbia B9
HAPPY NEW YEAR – FROM EVERYONE AT NEBC !
RON RODGERS Managing Broker/OwnerT: 250 785 4115 F: 250-785-4120
9912 100 Ave. Fort St John BC V1J 1Y5 www.northeastbc.com
Email: [email protected]
NORTH EAST BC REALTY Ltd.Investing Our Energy In The North
Buick Creek Sub Shop & Camp Convenience store, postal service, & more. Corner location with great access.Asking $695,000 MLS®N4504483
FOR SALE Coal River Lodge & RV Located at Mile 533 Alaska Highway37 acre country side site. Restaurant, motel, gas station, staff quarters, RV site – Complex has generated power supply & water hookups from 2 well sources, Laundromat, gift shop & more !Asking $689,000 MLS®N4504379
#7545: NEW STRIP MALL has 4 available spaces left for lease, 1,750 sq ft each. Great location on 8th streetbetween Tim Horton’s & The Brick. Lease rates start as low as $16/sq. ftStart your business here.
FOR SALE OR LEASE 5040 sq ft building on busy Alaska Ave. Many uses, drive thru availability, lots of parking, next to government liquor store. Owner will consider dividing building into two rental units.Priced at $795,000 or 17.50 sq ft to lease.
#9593: COMMERCIAL BUILDING WITH BEER AND WINE STORE for sale (gross sales of $2,000,000). Great location in Dawson Creek, also 40 apart-ments, bar/restaurant area and commercial space. Asking $3,500,000. Call for more info.
#8947: PRIME OFFICE BUILDING in downtown Dawson Creek, 2,700 sq. ft., 10 offices, boardroom,excellent parking. Asking only $10.00 sq ft.
#9122: MACHINE SHOP / WELDING SHOP is ideal for fabrication. This is an active business for sale with land, building and includes a long list of machinery. 2400 sq. ft. on a 1/4 acre and has a 12' by 12' door with 13 foot ceilings. Lots of power with 3 phase, 230 V, 400 amp. Gravel yard, convenient location, buy it all for $275,000
L A N D#9635: RESIDENTIAL DEVELOPMENT LANDS, 3 separate parcels 25, 79 and 116 acres. Superb loca-tion, the timing is right as we are expecting thousands of new people in the near future.
#8077: ONE ACRE OF MULTIPLE RESIDENTIAL LAND suitable for 37 unit apartment or condo complex. Across from the hospital in a prime residential area of Dawson Creek. $179,000DEVELOPMENT LAND 48.75 acres of residential land inside the boundary of Dawson Creek. Great invest-ment opportunity. Asking $750,000#7836: SUBDIVISION FOR MOBILE HOMES! Total of 39 mobile lots are possible on this 4.6 acres, zoning in place, some services are already in, 3 lots have been subdivided. Call for more info. Asking $300,000#8755: STRATA LOT. Excellent location for a restau-rant or high exposure franchise. Land only services plus paved parking for this 1/2 acre strata lot. Location is be-tween the Pomeroy Hotel and Best Western overlooking the highway. Asking $295,000#8664: COMMERCIAL LOT in downtown location, good central location next to dentist offi ce, across from doctor's offi ce, and optometrist offi ce. 45 x 120, great location for professional/medical offi ce.
#7066: LOCATION, LOCATION, LOCATION 0.74 acres at the intersection of 17 Street and Alaska Highway. Ideal location for strip mall, service station, etc.
#7441: 80 ACRES OF INDUSTRIAL LAND with high-way frontage, railway tracks, water and sewer in the City of Dawson Creek. Asking $31,250 per acre
#9257: THE SOUTH PEACE UNITED CHURCH IS FOR SALE. OVER 11,000 SQ. FT. - Sanctuary, hall, kitchen, offi ces, and support services. Excellent corner loca-tion, zoned commercial, very good condition, ready for an offi ce conversion.
#8542: INDEPENDENT VIDEO STORE for sale, been in business for over 20 years. Shows a steady income, long term lease is available on the building.
#9394: 2 YEAR OLD 32 FT. BY 60 FT. SHOP designed for 2 separate users on .4 of an acre. Each unit with overhead door, mandoor and washroom. Fenced and graveled. Asking $295,000
RE/MAX DAWSON CREEK REALTY 1-888-214-5871DAWSON CREEK COMMERCIAL EXPERTS
D A W S O N C R E E Kwww.dawsoncreekrealestate.ca
TOM MORAN [email protected]
LLOYD SMITH [email protected]
#9452: 3200 SQ. FT. SHOP built for 4 individual bays with 14 ft. doors situated on 3 lots. Asking $560,000 and owner will consider leasing.
SOLD
SOLD
#9690: INDUSTRIAL LAND - 27 acres of Industrial land on Bi-Pass (Dangerous goods) Highway. Approx 5 acres already fenced & graveled, all services are available, over 1000 ft of Highway frontage. Prime location across from the new Cal-Frac location & the Ferus nitrogen plant.
#9034: HILLSIDE VILLAS (90% SOLD) Brand new condos (total 1,917 sq ft each), 6 appliances, 2 bdrms & den up, full bsmt, well priced at $209,000. Great location & view of Dawson Creek, would make an excellent rent-al. Last phase & only 3 units left. Available immediately!
SOLD
LEASED
10 Unit Residential Townhouse Property. Gross revenue of $88,800/yr.
Annual expenses: taxes $5,080, water/sewer $4,000, insurance $950.
Asking $890,000 (sold in 2007 for $1,000,000).
Potential to stratify units for resale.
Email [email protected] or call 1-800-658-2345
Sicamous, BCMulti-Unit Residential
Successful Disposal Company
For SaleSuccessful garbage disposal business in Prince Rupert, BC for sale. Share sale asking price of $580,000.
For further information contact Vohora & Company, Chartered Accountants at 250 627 1371 or 604 541 9890.
Financial details available for serious enquiries only
PRINCE RUPERT GIFT SHOP
$20,000 plus inventory
For further information contact Vohora & Company, Chartered Accountants at 250 627 1371 or [email protected]
Financial details available for serious enquiries only
MISSION - 7 ACRES - $799,999IMMACULATE equestrian setup on a secluded and serene fertile acre-age with access to small waterway for fi shing, relaxing and eagle spotting. Renovated basement entry with beautiful maple kitchen, bay carousel eating area with million dollar mountain view, liv.rm, 3 large bdrms, 2 baths and room for extended family down with 2 bdrms, bath and kitchen.6 stall barn, 3 stall shedrow,100 x 200 outdoor ring,30x38 workshop, hay producing fi eld plus grass and sand turn-outs for horses. The property is fenced and xfenced and groomed to make your transition here effortless. Potential to run bed/bale/break-fast in this great location. You will not fi nd any fl aws here - call today to view.
Beautiful 2 storey with full walk out basement log home, featuring 4 bdrms, den, open living dining and kitchen area with stunning fl oor to ceiling river rock fi re-place and magnifi cent view of the river. Caretak-ers residence,110' x 200' indoor arena with tie and box stalls, work-shop area and sand riding surface, 80 x 160 out door ring, paddocks with shelters, seeded land and miles of x country trails. Located10 mins. west of town with 1km of river frontage. Priced well below replacement. Call for info pkg.
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 sta-tion,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 in-stalled from1992 to present with approvals and built to code. Steady clientele with tour buses, car, truck and camping traffi c, fi shermen, hik-ers, 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 producing 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: 604-818-0233RE/MAX Aldercenter Realty • 26641 Fraser Highway, Aldergrove, BC 1-888-341-1100 • Email: [email protected]
Look Here For Your Next Investment Opportunity
Burns Lake PropertiesFor Sale - 864 sq ft Office Space and
864 sq ft 2 bedroom Suite upstairsHigh traffic commercial area
$121,500
For Sale - Recreation Lakefront Executive Class home $399,000Bungalow on 21 acres $190,000
For Sale - Fourplex Rental PropertyThree bedrooms upstairs, full
basement in each unit $289,000
Burns Lake and Area RepresentativeDennis Bock 250 692 3530
Phone for more infoPrince George
DEVELOPMENTOPPORTUNITY!
403-701-9844 [email protected]
Approved development sites; Dawson Creek BC, +- 15.8 Acres mixed use, single family, duplexes
and multi family, engineering completed.View at www.Dawsonhills.ca.
Asking $1,450,000
Kimberley BC; 5 +-acres approved for duplexes and multi family.
View at www.kimberleycrossing.caAsking $1,950,000
VTB considered for qualified buyers.
SORRY, YOUR AD IS MISSING...SORRY, YOUR AD IS MISSING...
COMMERCIAL REAL ESTATE, FRANCHISES & BUSINESS OPPORTUNITIES IN WESTERN CANADA
For advertising information call 604-669-8500 or 1-800-661-6988
toll free anywhere in Canada or the USA.
B10 Northern British Columbia www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR
250-961-5478RE/MAX Centre City Realty
www.pgcommercial.caEach offi ce is independently owned and operated
GEORGE Weinand
250-960-9556KEN Goss
250-565-7653
— Your PRINCE GEORGE Commercial Professionals —FOR SALE
1550 - 1st Ave .................................... N4504391 ..........44,080 sq ft warehouse ................$3,750,000.00
1440 - 2nd Ave .................................. N4504001 ..............5,386 sq ft offi ce ............................ $450,000.00
1598 - 6th Ave ...................................................................14,300 sq ft offi ce ........................ $1,950,000.00
1505 - 3rd Ave ................................... N4504231 ..............19,642 sq ft retail ..........................$1,250,000.00
110 Victoria St. & 105 Brunswick St. ..... N4504151 ...............8,487 sq ft retail ...........................$2,100,000.00
2493 Perrin Heights .............................. N196245 ..............Residential land ................................. $45,000.00
9444 Rock Island Rd. ......................... N4504171 ...............5,200 sq ft warehouse ..................... $595,000.00
"Bee Lazee RV Park". ..........................N4504404 ...............Business/land/buildings .................$1,500,000.00
3041 McGill Cres. ...............................N4504234 ..............17,000 sq ft retail ..................... $1,775,000.00
2222 Balsam Ave. – Quesnel ............ N4504291 ...............14,000 sq ft warehouse/offi ce ...........$779,000.00
9368 Milwaukee Way .........................N4504301 ...............31,640 sq ft warehouse ................ $2,500,000.00
1921 Upland St...................................N4504330 ..............12 unit multi-family .......................... $850,000.00
508 George St. ................................N4504232 ...............retail (restaurant) .......................... $2,000,000.00
'Domano Florists' ................................N4503630 ...............Business Only ..................................$140,000.00
'The Inn Flower Place' ..........................N4503632 ...............Business Only .................................. $139,900.00
1527 - 3rd Ave ...................................N4504230 ...............4,772 sq ft retail ............................. $600,000.00
971 Hart Hwy .................................... N4503912 ...............Land - 5.02 Acres ........................... $350,000.00
Lot #1 Atwood Rd. ..............................N4504036 ..............Land - 78.8 Acres ........................... $850,000.00
4986 Hartway Dr................................N4504045 ...............Land - 0.31 Acres .............................. $80,000.00
5008 Hartway Dr ...............................N4504046 ...............Land - 0.263 Acres............................ $70,000.00
Fraser Lake, B.C. ..........................N4504181-4194 ..............Land .................... Industrial/Commercial varying
Chief Lake Rd...................................... Sub-lakeshores land ...................................................$20-35,000.001594 – 3rd Ave. ................................ N4504221 ..............13,372 sq ft retail/offi ce ............... $1,900,000.0026485 Telegraph Rd. – Vanderhoof .... N4504362 .............539 Ac. Residential ....................... $700,000.00996 Central St. ................................... N4504419 ..............LAND ............................................ $190,000.00978 Central St. ...................................N4504420 ...............LAND ............................................$185,000.00
FOR LEASE1644 & 1842 - 1st Ave ................ N4503867 .............13,500 - 17,000 sq ft ..............WAREHOUSE481 - 3rd Ave .............................N4504221 .............5,526 sq ft + 2,976 sq ft ............ INDUSTRIAL 1108 Boundary Rd ....................... N4504015 .............9,000 sq ft ............................... INDUSTRIAL9809 Milwaukee Way .................. N4504147 .............2,945 sq ft ............................... INDUSTRIAL9080 Penn Rd ............................ N4503984 .............25,660 sq ft ...........................WAREHOUSE678 Vancouver St ...................... N4504034 .............1,985 sq ft ....................................... OFFICERiver Rd. .................................. N4503911 .............19,224 sq ft ......................................RETAIL
1550 - 1st Ave. Investment Opportunity 3 concrete block warehouses on 3 Acres.44, 080 sq ft total space.
9368 Milwaukee WayLocated on 3.74 Acres, 31,640 sq ft major fabricating/manufacturing facility.
971 Hart Hwy.High visibility. Located intersection of pulpmill Rd & North Nechako. Approx. 4 Acres usable.
1921 Upland St. 12 unit apartment building
Fraser Lake, B.C.Municipal development park6 lots – Highway Commercial8 lots – Light Industrial
Zoned C-2 (Highway Commercial)
Zoned M-1 (Light Commercial)
8% Cap Rate
604-669-85001-800-661-6988
$42 could make you millions!
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❏ Three years ............$105
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■"I think you have a fantastic news and information paper. Keep it up."
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WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com Northern British Columbia B11
SYLVIA THERRIEN250.385.2033 [email protected]
• • • • •
• • •
Elaine Kienzle250 563-8769www.elainekienzle.com
Residential Development Property13 lots - 1.1 acres, zoned residentialstrategically located adjacent toConnaught Hill Park - walk to shopping
Near Costco & Future Shop $789,500prime, high traffic, high profile location3664 sq ft building on 1/2 acre lotzoned M3 - Business Industrial
Riverfront Condo Development $575,0001.76 acres - approx 263’ of riverfrontzoned RM1 - multiple residentialpreliminary drawings for 13 TH’s on file
PRINCE GEORGEopportunities
Cluculz Lake …your all season playground
zoned for recreational/residential development
Parcel 1 - 55 acres, 3 titles $545,000approx 1650’ of lakefront, easy access
Parcel 2 - 26 acres, 2 titles $365,000approx 1450’ of lakefront, hwy access
Remax Action Realty 1991 [email protected]
[email protected] Toll Free: 1-888-785-5520
10004 - 94th Ave2800 sq ft shop with offi ce/reception area.
1-10’ & 1-12’ door + mezzanine for storage.$549,900 MLS# N4504434
LOCATION, LOCATION, LOCATION!
7142 – 252 Rd. Approx 10 minutes from town. 4 offi ces. Shop has 22’ ceilings, 10 ton crane over in-fl oor steel tracks, 5 bays
(1 drive through). $9.25/ sq. ft. MLS# N4504464
FOR LEASE
6511 Wildmare Sub., Chetwynd10,000 sq ft with offi ce/drive through wash bay.
8,000 sq ft leased until Nov/2011.3.86 Acres. $900,000 MLS# N4504479
GREAT INVESTMENT PROPERTY
9424 - 100th Street3 Units fully leased. Annual gross rents are
$72,000/yr. Upgraded furnace & exterior, good exposure. $589,900 MLS# N4504195
REVENUE GENERATOR!
8705 - 100th Street9600 sq ft commercial/warehouse with good exposure!
2 overhead cranes, clean site. 1-drive through & 3 service bays. 2.436 Acres. $990,000 MLS# N4504458
HIGHLY VISIBLE LOCATION!
FORT. ST. JOHN
The Power Of Partnership!
KATHY MILLER CURTIS ROBINSON
9929 - Swanson Street10.35 Acres, 12,500 sq ft Warehouse/Manufacturing Bldg, 5-18'
overhead doors, 1-10 ton & 2-5 ton crane; offi ce bldg has 3 offi ces & 10 x 32 Atco trailer. $3,200,000 MLS# N4504450
RELOCATE & EXPAND HERE!
Call Sterling Management Services Ltd 250-785-2829
Ask for Robert Herman
FORT ST JOHN FOR SALE STRIP MALL
Fort St. James offers incentives Fort St. James, the closest centre to
the new Mt. Milligan mine, is dangling incentives to lure industrial investors to the town of 2,000 in northern B.C.
The town council is now offering a five-year property tax holiday for owners improving industrial property under a bylaw approved in October. Industrial lots sell for about $4,000 per acre, according to town administrator Kevin Crook. The town is also offering incen-tives to retail property owners who upgrade downtown property, he said.
The Mt. Milligan mine holds an estimated 5.5 million ounces of gold and nearly 2 bil-lion pounds of copper. The mine, owned by Thompson Creek Metals of Denver, Colorado, received federal approval last fall as the first new mine in B.C. in more than a decade.
It is estimated that the mine will provide 600 jobs, but Thompson Creek has no plans for on-site accommodation, which should boost motel and apartment rentals in Fort St. James, Crook added.
Loblaw expands in Metro regionLoblaw Companies Ltd. is quietly ramping-up
investment in the Lower Mainland, making over its existing holdings and adding new stores.
The latest project is a joint venture with Anthem Properties Group that will see a 40,000-square-foot grocery store anchor-ing a $100 million development at 17th and Lonsdale in North Vancouver, now home to an Extra Foods store. Christened “Local on Lonsdale,” the proposed project includes 175 residential units.
The project joins other investments in B.C., including redevelopment of the former Office Depot site in the 300-block of West Broadway
for a No Frills location, as well as the opening of the Joe Fresh clothing store on Granville Street a few doors down from Holt Renfrew, a sister company to Loblaw through the Weston clan, which controls both.
– Peter Mitham/BIV
Green parking lots costly but popular A two-year-old Vancouver company has
opened the “world’s greenest parking facility” in Denver and plans to open similar lots across Canada and the United States.
Greenscape Capital Group Inc.’s flagship project at the Denver International Airport will test whether the company’s green approach to building parking lots attracts drivers and whether it’s profitable in the long term after factoring in the higher upfront costs required to install more efficient infra-structure.
Greenscape CEO Bryan Slusarchuk said that because parking lots usually require 24-hour lighting, those costs can be greatly reduced by installing LED lights – as Greenscape did.
The company’s 4,200-stall lot, which is branded Canopy Airport Parking, is powered by wind, solar and geothermal energy. It also includes electric vehicle charging stations.
Its asphalt was even made from recycled roofing shingles and the project has LEED (leadership in energy and environmental design) gold certification.
Greenscape built the parking facility with an US$8.5 million bank loan and US$9 mil-lion in equity, raised largely through issuing warrants and from large shareholder loans and unrelated third parties.
Randall Hsu, a research associate with Fundamental Research Corp., said that while the company has taken on large debt to build the Denver lot, it’s backstopped by the lot’s $30 million to $40 million appraised value.
When asked why the parking lot industry has been a green laggard, Hsu said: “It’s probably because the [green] costs are still substantial compared to building a standard parking lot at this point.”
– Curt Cherewayko/BIV
Germany-based Daimler is eyeing Vancouver as the second North
American city for its car2go car-sharing program.
Launched two years ago in Germany and available in Austin, Texas, since last year, the concept involves Smart Fortwo cars that are rented by the minute (or about $13 per hour).
Registered members can pre-book the cars online or via mobile phone, or check out an available vehicle on the spot (a member can swipe in using a card reader on the windshield). When done, the car is returned to any unoccupied parking space within a set operation area.
Currently, car2go is assessing its in-vehicle technology with selected non-profits and businesses in Vancouver, including Vancouver Public Library, Vancouver Film School, Bard on the Beach Shakespeare Festival and a set of UBC staff and graduate students. The trial assessment is being conducted to validate and refine business processes and technical systems before further large-scale rollouts in Canada and the United States.
“We elected to perform our trial assessment in Vancouver because of its proximity to one of our technology providers, allowing us to monitor and analyze the data first-hand,” said Nicholas Cole, president and CEO of car2go, N.A., LLC. “With this trial assessment, car2go will better understand how our systems work in different countries, providing data sets to help us ultimately enhance the car2go experience for our members.”
According to Cole, more than 15,000 members were signed up in Austin and used 100,000 rentals in the first year of operation.
Realtors handed mobile apps The Canadian Real Estate Association
(CREA) has rolled out a new mobile app for realtors to track MLS sales and listings and other information, but a new product from Landcor Data in New Westminster may put more hard real estate information into the hands of realtors.
CREA’s released the new mobile application for Realtor.ca (the large MLS data system) for Windows Phone 7 and says it will make the app available for Blackberrys and iPhones early this year.
The app works with GPS to let realtors track information on any property simply by stop-
Car2go share service planned for Vancouver.
Phot
o: D
aim
ler
ping in front of it or going online. Meanwhile, Landcor has launched a
new realtor mobile app called Landcor Professional. Unlike CREA’s app it does not track listings, but provides detailed informa-tion on all 1,191,000 properties in B.C.
The Landcor Professional, expected to cost from $22 to $25 per month for unlimited use, is restricted to licensed realtors.
A realtor can punch in any B.C. address and the software will give the last 10 comparable sales, assessed value, whether it is a rental and show a “market shift” of how assessments on the property have changed over the past 18 months. Sales information is refreshed each week. The program also links with Google maps to show locations and street views of any property, according to Landcor president Rudy Nielsen.◆
B12 Alberta www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR
GRAVEL PITSFort McMurray, AB
SML 070029, SML 020038,SML 030011, SML 810079,
SML 040002
ECO PARKFort McMurray, AB
Pre-selling & pre-leasing industrial bays, 2,000 - 43,000
SF, on Hwy 63 N., adequate parking, T5 lighting, radiant
heating, and bay doors
145 MacMILLAN RD.Fort McMurray, AB
16,800 SF industrial building, fully leased, NOI $700,000 rising to $750,000 in 2013
GROUP OF 11 LANDFort McMurray, AB
6.75 AC, additional 7 AC adjacent site, Hwy. 63 & Gregoire Dr. exposure
7 ACRES LANDFort McMurray, AB
Ready for 11,000 SF office, 16,000 SF industrial shop
10020 MacDONALD DRIVE
Fort McMurray, ABProposed office development on 36,400 SF lot, zoned C5,
currently a movie theatre
RESIDENTIAL CONDOMINIUM SITE
Fort McMurray, AB24-unit development permit
DOWNTOWN COMMERCIALFort McMurray, AB
1+ AC, zoned C5, 14,000 SF building, 2+ AC potential
assembly size
22,000 SF INDUSTRIAL BUILDING
Fort McMurray, ABFully leased
INDUSTRIAL BAYS FOR SALE OR LEASE
Ready December 1, 2010Taiga Nova Eco Industrial Park
78 LOT SUB-DIVISIONGrande Prairie, ABFor development
Hotels
Colliers International3555 Manulife Place, 10180 – 101 StreetEdmonton, AB T5J 3S4
+1 780 420 1585www.colliers.com
Fort McMurray OpportunitiesNational Insolvency Team Listings
80.62 ACRESBon Accord, AB
Subdivided & rezoned, ready for immediate residential/commercial development
59.44 ACRESParkland County, ABCountry Residential,
minutes fromEdmonton
80 ACRESParkland County, ABCountry Residential,
preliminary developmentplan available
155 ACRESParkland County, ABCountry Residentialdevelopment east of
Stony Plain
420 ACRESParkland County, AB
Next to Lake Eden Resort, good access to utilities
Multifamily Opportunity
DAYS INNGrande Prairie, AB
90 rooms, new construction$9,200,000
160 ACRESStony Plain, AB
Area structure plan completed, engineered and ready to go,
financing available
1.75 Hwy ACRESBeaumont, AB
1.75 acres, highway exposure
Ideal hotel location
12,000 SF BUILDINGEdmonton, AB
Freestanding building close to
Downtown, Ideal Owner/User
MULTI FAMILY LANDMorinville, AB
4.47 Acres of Multi Family Land
for Sale, up to 99 units available
Judicial & Offi ce/Retail Opportunities
132,995 SF INDUSTRIAL FACILITY
Sturgeon Ind. Pk., ABSale or lease. 30,000 SF bays
available. Abundant yard.
Future CN Rail Service. Flexible
completion options.
Greater Edm. Opp.
Rod ConnopDIR +1 780 969 [email protected]
Sean DayDIR +1 780 969 [email protected]
Steven Pearson Jeff GrobmanDIR +1 780 969 3023 DIR +1 780 969 [email protected] jeff [email protected]
Perry GerelukDIR +1 780 969 [email protected]
Ken ShebibMOB +1 780 863 7355 Edmonton | DIR +1 780 881 6297 Fort [email protected]
Accelerating success.
31,680 SF on 4.36 ACGrande Prairie, AB
Brand new facility, potential for, up to 14 bays, located in
Four Mile Corner BP$2,950,000
Rick Argue Mark SwaenepoelDIR +1 780 969 2997 DIR +1 780 969 [email protected] [email protected]
106 UNITS PENDINGPowell River, BC
Well located, ocean views, 50% two bedrooms
62 UNITS AVAILABLEEdmonton, AB
Extremely large units, all 2 and
3 bedrooms have 1.5 baths,
above grade
38 UNITS SOLDFox Creek, AB
Twin buildings, great upside,
assumable CMHC mortgage
22 UNITS PRICE REDUCEDEdmonton, AB
South side location, new
windows, new boilers,
substantially renovated
21 UNITS SOLDEdmonton, AB
NAIT area, estate sale, $72,143 per door
15 UNITS AVAILABLEEdmonton, AB
West end location, one block
away from approved LRT route,
6 - 3 bedroom suites
11 UNITS COMING SOONEdmonton, AB
Central location, all new windows,
new roof, one block from the new
LRT stop
Amit GroverDIR +1 780 969 [email protected]\edmontonapartments
Jandip DeolDIR +1 780 969 [email protected]
FOLDING MOUNTAIN RESORT
Near Jasper National ParkMotel, cabin, RV park,
campground, excess development
land, recently renovated
Write: 5204 – 50 Ave., Camrose, AB, T4V 0S8Toll Free: 1-888-672-4426
Ph. (780)678-3025 Fax: (780)672-2469Email: [email protected] www.camrose.ca
DENNIS TWOMEYEconomic
DevelopmentCoordinator
Prime Highway Commercial Lots
Next to our New Hotel, Convention Centre
and Casino3 to 4 Acre Parcels - $175,000 per Acre
THE CITY OF
CAMROSETHE REGIONAL CENTRE OFEAST CENTRAL ALBERTA
NORTHERN ALBERTAINVESTMENT/BUSINESS OPPORTUNITY• Restaurant/lounge/gas bar/convenient store for
sale in Northern Alberta• 100 Acres fronting MacKenzie Highway 35
perfect for commercial development• Greenhouse business in Manning, AB
to be moved• Commercial Lots For Sale in Manning, ABLooking for Investor's to purchase
4-plexes in the Peace CountryFor Further Information contact:
Evelyn Petkus780-836-3086 or 780-836-6478
EMAIL: [email protected] LEPAGE, CASEY REALTY LTD.
PEACE RIVER, AB
www.manningrealestate.ca
INDUSTRIAL BAYSFOR SALE/LEASE
Call Mike George:403-396-0026 orBill Schoemaker:
403-391-2344 www.property-solutions.ca
www.MotelHotelSale.com
Specializing in Motels & Hotels for Buyers and Sellers!!!
Sutton Group - West Coast Realty #102 - 403 North Road Coquitlam BC V3K 3V9
Martin Park T: 778-899-0201
Grande Prairie, AlbertaCommercial Building & Development Land Opportunity.
20,000 Sq. Ft. Commercial Building on 1.2 acres. Triple A tenant mix. Long term leases in place. Triple Net. Constructed in 2007 to high standards (Triple Pane Glass, Steel/Wood Construction, Concrete Floors), cultured stone
and stucco exterior. An Architectural Landmark. 0.8 acre Vacant Lot adjacent to Commercial Building. Future development opportunity. Possible opportunities
include Commercial and Retail space.
Ideal location in Grande Prairie. Located within 2 blocks of new Regional Hospital and 3 blocks of Grande Prairie Regional College. Located adjacent to
Wal-Mart. Will consider selling properties individually or as a package.
Email: [email protected]
WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com B13
n award-winning Victoria resort has found that fractional ownership remains a viable route to real estate
sales in a slow market. The only urban fractional resort in the prov-
ince, Parkside Victoria by Aviawest Resort Group, has sold 85 per cent of the shares offered in its first 86-unit tower, according to company spokesman Neil Judson. About 15 per cent have sold in a smaller second tower.
The 126 suites are sold as fractional shares, split into one-quarter, one-eight and one-six-teen fractions, he explained.
The one-quarter ownerships start at $149,000 for a one-bedroom suite and $219,900 for a two-bedroom suite. One-eight ownership is available from $115,892 for a one-bedroom and from $121,800 for a two-bedroom.
By selling units as one-eight fractionals there is potential of capturing more than $925,000 for
a one-bedroom suite, high by any standards and about three times the price of a typical Victoria condominium.
Fractional ownership allows the buyer to use the resort condominium for a set period each year, for example, three months of rotating time under a quarter-share arrangement.
As in most resort fractionals, Parkside places the suites in a rental pool when not being used by owners. The resort collects 35 per cent of the rental revenue for management fees with the remainder going to the owner. The fractional ownership does not extend to the commercial aspects of the resort, such as the restaurant and lounges. For fractional owners, this can be good news because, while owners would share in the income they would also be responsible for any losses if the commercial property is part of their ownership agreement.
Judson said most Parkside buyers have come from Alberta.
The Parkside fractional success is rare. According to speakers at the recent Western
RECREATION FEATURE “Best new resort” in B.C. sees rare success selling hotel-condos as shared purchases
Canada Resort Conference, fractional resorts have had a poor track record and have the worst potential value growth in 2011.
Critics note that fractionals carry high main-tenance costs and are difficult to both finance and resell. Mike Wintemute, manager of Re/Max Sea-to-Sky Real Estate, Whistler, also cautions that on a resort quarter-share “each owner will have a Christmas slot only once every four years.” He adds that such units cost more per square foot than a conventional con-dominium that is not divided into shares,
“If you are buying a fractional you are buy-ing a lifestyle,” said real estate consultant Ozzie Jurock. “It is not real estate.”
Parkside’s ability to sell fractional shares in a tough resort market could be due to its down-town location and its quality of construction. LEED-certified Parkside recently captured the Urban Development Institute award of excellence as the best new resort property in the province. Earlier last year, Parkside also beat out top Disney resorts to win gold awards
in both design and site plan categories from the U.S.-based American Resort DevelopmentAssociation.◆
FRANK O’BRIEN
WESTERN INVESTOR
Fractional: the Parkside Victoria has bucked a trend with its sales success.
Bold Bluff property, Saltspring Island.
Phot
o: U
DI
Phot
o: L
andQ
uest
Rea
lty
Corp
.
77-acre parcel of near virgin for-ests and waterfront on Saltspring Island has been put on the market
for the first time in 45 years, with the poten-tial of dividing the property into building lots, a plan that may spark controversy in the Gulf Islands.
The water-access Bold Bluff property includes 2,700 feet of oceanfront and was orig-inally developed as a secret hideaway for the lieutenant-governor of B.C. to escape threats during the Second World War. Artist and natu-ralist Tamar Griggs has owned it since 1965, and operated it as a resort and retreat.
Property agents Rich Osborne and Matt Cameron of LandQuest Realty Corp. say the task at hand is balancing the property’s devel-opment potential with its ecological value. The property is zoned for five-acre lots and about
15 could be developed, Osborne said.However, the property is highlighted under
the Nature Conservancy of Canada’s Salish Sea Natural Area Conservation Plan, which identifies coastal areas that are both ecologi-cally sensitive and under threat and therefore a priority for conservation actions. The conser-vancy wanted to buy the property but could not raise the money, Osborne said.
Tom Swann of the Nature Conservancy of Canada said Bold Bluff will likely require a unique private buyer: “a developer and philan-thropist at the same time.”
He notes the land represents one of the
last intact examples of an old-growth coastalDouglas fir ecosystem. It is accessed only by water and, because of a neighbouring park, there is no potential for road access.
Swan explained that a buyer who “eco-gift-ed” areas of the land for conservation could beeligible to a tax receipt that can be carried for-ward for five years, while also profiting from sales of the lots. Currently, five-acre lots on Saltspring start at around $200,000, but primewaterfront parcels can be priced as high as $1 million or more, according to local realtors.
The Bold Bluff property is listed at $2.79 million, or about $36,000 per acre.◆
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]
Avison Young Real Estate Alberta Inc.partnership.performance.
Visit us for sale listings, market information and the latest commercial real estate newsMULTI-FAMILY, RETAIL, OFFICE AND INDUSTRIAL INVESTMENT OPPORTUNITIES 780.428.7850
The Avison Young Edmonton Investment Team is proud to present our new website:
www.ayeinvest.com 10516 82 Avenue, Edmonton, T6E 2A4High quality main fl oor retail or offi ce space. 3000 sq ft. Loads of
upgrades, more renovations in 2010. Includes large bsmet storage area, incentives and included three rear parking stalls. Street
parking & publics transport steps away. $28 per sq. ft. plus $6.00 operating costs & utilities.
LEASE Prime Whyte Ave Retail
Please Call Michele Warwa-Handel780-464-7700
REALTY EXECUTIVESDEVONSHIRE (THE PARK)
www.realtyforyou.ca
HOT PROPERTIES
$4,495,000 MLS® 10013279 $4,250,000 MLS® 9218020$5,999,000 MLS® 10017949
$3,495,000 MLS®10019631 $3,295,000 MLS®10016447 $5,950,000 MLS®10017381
CANADIAN $ IS NEAR PAR WITH U.S. $CANADIAN $ IS NEAR PAR WITH U.S. $
LOOKING FOR AHOME IN THE
METRO PHOENIX AREA?
CAM BURRONU of S AlumniPRUDENTIAL AMERICANVIP Relocation Specialist480-786-4351Email: [email protected]
Use a SaskatoonBorn & Raised Realtor!!
I just Sold an 1800 sq. ft.3 bed / 2 bath, 2006 built
home in Chandlerfor $215,000
ORIGINALLY SOLDFOR $460,000!!!
LOTS OF DEALS TO BE FOUND!
RE/MAX Kelowna
KELOWNA, BC
KELOWNA ACREAGEAmazing equestrian property on 7.5 fl at acres. 4100 sq ft main home with nanny suite plus 1164 sq ft 2 bedroom guest quarters, state of the art 80 x 260 barn with indoor riding ring, heated tack room, 15 stalls and lounge area.MLS®10019476 $3,750,000
WATERFRONT ACREAGEPrivate 6.23 acre waterfront property only minutes from downtown. Over 200 ft of lakeshore w/ its own secluded beach. An excellent property with southwest exposure & several building sites. A rare opportunity to own premium waterfront land! MLS®10005293 $2,800,000
Todd Martin and Jason Hymers P.R.E.C. 800 764-7514
[email protected] www.kelowna-homes.com
WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com Recreational Real Estate HOT PROPERTIES B15
“The Source” for Oceanfront, Lakefront, Islands, Ranches, Resorts & Land in BC at:
www.landquest.comLandQuest Realty Corp Smithers
LandQuest Realty Corp Courtenay
LandQuest Realty Corp Nanaimo
LandQuest Realty Corp Cariboo – LandQuest Realty Corp Williams LakeLandQuest Realty Corp Fraser Valley
$389,900
SHUSWAP LAKE DEVELOPMENT LANDS
DEVELOPMENT ACREAGEMISSION, BC
1,695,000
SUBDIVIDABLE ACREAGE NELSON, BC
ROSEBERY HIGHLANDS
$1,395,000
57 ACRES VALEMOUNT 205 LOT SUBDIVISION
$2,200,000$2.2M
SUBDIVIDABLE RIVERFRONT ACREAGE (23 LOTS) KAMLOOPS
$899,000
DOUBLE T-GUEST RANCH 100 MILE HOUSE, BC
1,485,000
$2,495,000 $419,900
$40,000
BEAUTIFUL HOME ON THE THOMPSON RIVER
NORTHWAY MOTOR INNDEASE LAKE, BC
$249,000
RECREATIONAL WATERFRONT LOTS - BURNS LAKE, BC
$1,450,000
$3.665M
COMOX VALLEY CRANBERRY FARM
11 ACRE MARINA HARRISON HOT SPRINGS, BC
$6.8M
CERTIFIED ORGANIC FARM QUESNEL, BC
$699,000$599,000
TURN-KEY BUSINESS PRICE SLASHED
NEW PRICE $399,000 +
$2,650,000
BEST ACREAGE DEAL IN THE COLUMBIA VALLEY
BASKING TURTLE VINEYARD COWICHAN VALLEY
LOVELY FAMILY or EXEC. HOMECLOSE TO 100 MILE HOUSE
SQUIRREL COVE TRADING CO. CORTES ISLE - DESOLATION SOUND
$1,350,000 $699,000
HUSKY STATION & MINI MALL 150 MILE HOUSE, BC
RECREATIONAL ACREAGE EHOLT, BC
$749,000
OCEANFRONT RETREAT TOFINO, BC - CATHIE’S COTTAGE
INDIAN ROCK RANCH - 157 ACRES - LITTLE FORT, BC
$389,000 No HST
TROPHY LAKEFRONT ESTATE SHERIDAN LAKE, BC
PRIVATE RIVERFRONT HOBBY FARM - GRAND FORKS
$549,000
HENDY CREEK RANCH
B16 Recreational Real Estate HOT PROPERTIES www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR
NN
CAMPBELL RIVER (25 MIN.)
COURTENAY (10 MIN.)
NANAIMO (60 MIN.)
VICTORIA (165 MIN.)
TOLL FREE 1.877.239.4811 COUVERDON.COM*Lot boundaries are approximate only. The Developer reserves the right to withdraw offer at any time. E.&O.E.
2 2 TO 7 0 AC R E LOTS FROM $249,900 AND UP Acreage lots also available at Elkhorn,please enquire.
Located in the heart of Comox Valley, minutes from the Inland Island Highway (Dove Creek exit), Headquarters is situated at the base of Mount Washington and is 20 minutes from the Courtenay/Comox International Airport. Features include expansive mountain peak views, rolling hills and the Tsolum River, which meanders through the property.
N
TOLL FREE 1.877.239.4811 COUVERDON.COM
CAMPBELL RIVER (15 MIN.)
COURTENAY (35 MIN.)
NANAIMO (90 MIN.)
VICTORIA (180 MIN.)
*Lot boundaries are approximate only. The Developer reserves the right to withdraw offer at any time. E.&O.E.
Elkhorn is located 15 minutes south of Campbell River in the York Road area. These open area acreages, many with views and water features, have easy access to the Inland Island Highway. Nearby amenities include Storey Creek Golf Course, waterfront on Oyster Bay and Mount Washington.
ACREAGE LOTS STARTING AT $3600 PER ACRE Acreage lots also available at Headquarters, please enquire.
Realty Ltd.
Realty Ltd.
ONLY 4 LOTS LEFT!ONLY 4 LOTS LEFT!
WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com Recreational Real Estate HOT PROPERTIES/Alberta B17
Val ToffoliPhone: 780-707-9395
REALTY EXECUTIVES POLARIS4107 - 99th Street, Edm, AB T6E 3N4
Email: [email protected] • www.valtoffoli.com
Selling Edmontonsince 1987
MULTI-FAMILY APARTMENT BUILDINGS:• 7 Stes in West Central; 6% Cap Rate. Very Clean & Well
Maintained with Great tenant Profile.
• 12 ste with 80% financing available! Ctl – Near downtown, College, Hospital, new proposed Stadium & LRT – Good size stes. Great Curb Appeal
• 15 Stes (12-2 bdrm stes) Newer Boiler/HW Tank; Most Stes Recently Upgraded. Queen Mary Pk.
• 15 Condo Units – 13-1bdrm & 12-2 bdrm units. Ctl near downtown & college. REDUCED & open to reasonable offers.
• 18 Stes (12-2 Bdrm, 5-1 Bdrm, 1 Bach) Extensive upgrading in & out (roof/windows/landscaping/fencing). Hi Ratio financing available. East Ctl
Pam Gill(780) 455-4088
www.apartmentsinedmonton.com
sutton central commercial real estateAN INDEPENDENT MEMBER BROKER
For full Proformas, Call or [email protected]
PH: (780) 455-4088 Fax: (780) 455-4048 www.apartmentsinedmonton.com
Sutton Central Commercial
EDMONTONAPARTMENT PROPERTIES
6 SUITES, Cromdale ..................................................$575,0008 SUITES, Downtown ................................................$584,0009 SUITES, Inglewood .................................................$850,000 11 SUITES, NAIT .....................................................$1,067,000 12 SUITES, Downtown ..............................................$876,000 15 SUITES, NAIT .....................................................$1,575,00015 SUITES, Downtown ...........................................$1,425,00020 SUITES Cromdale ..............................................$1,960,00022 SUITES, Downtown ...........................................$2,420,00030 SUITES, Westend ..............................................$2,900,000NEWER WAREHOUSE, 1455 sq. ft. ............................$369,000
For further information, contactGary & Renée Anderson
Hospitality Sales SpecialistsDirect: 780-432-1408
CENTURY 21 A.L.L. Stars Realty Ltd.Office: 780.434.4700
HOTELOPPORTUNITIES
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 condominium
portfolios ranging in size from 38, 61, 74, 84, 207 and all the way up to 350 unit packages. Price ranges and locations vary across Edmonton.
Call or email us for further informationThe 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
• 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]
EdmontonWell maintained 15 unit apartment building in great location with many interior upgrades plus new SBS membrane roof. Large suites, great mix, below 1% vacancy, always full with excellent on-site manager. Strong cash flows with existing CMHC Financing. Asking Price $1.625 million at 7.0% CAP Rate.
AthabascaWell maintained 23 unit apartment near river and down town in the vibrant and growing community of Athabasca. Many upgrades, excellent on-site manager with below 1% vacancy for the last 4 years. Large suites, great mix. Strong cash flows – cash on cash return of 16.7% with existing CMHC financing. Asking Price $1.75 million at 9.0% CAP Rate.
Please call 1-780-913-0563
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 comfort going forward. Asking $12,950,000.• 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 $14,950,000.• A 99 Suite Apartment Complex in superb condition, continuously operates at a very high occupancy level that yields excellent revenues, immediate possession, an excellent buy at $9,500,000.• A Flagged Full Service Hotel, well located with highway exposure in a very diverse economic area, attested to by its continually strong revenue performances, further, it currently has exceptionally good mortgage financing that may be assumed. The up-side potential of an investment is this Hotel is very good. Asking $30,000,000.• A Flagged Limited Service Hotel in a very prime location, featuring excellent amenities including indoor swimming pool, it is relatively new, is currently in excellent condition and has no differed maintenance, enjoys excellent occupancy and ADR. Asking $13,700,000.• A Flagged 102 Room Full Service Hotel, well located in a prime commercial area, a dynamic city, the stellar performance of its operation is attested to by its continuous outstanding growth in revenue, plus substantial up-side potential. Asking $12,900,000.• A Flagged 92 Room Limited Service Hotel, featuring a very high number of suites in its room mix, fitness centre, indoor Swimming pool and whirlpools are a few of its many amenities, its superb location is attested to by its continuous excellent revenue performances; the condition of the Hotel is very good. There is no differed maintenance. Asking $13,500,000.
CURRENT OFFERINGS
www.westerninvestor.com
B18 Alberta www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR
EDMONTON OFFICE 202, 2520 Ellwood DriveEdmonton, AB T6X 0A9 p: 780 463 3332
INVESTMENT OPPORTUNITIES FROM BARCLAY STREET REAL ESTATE
CAPITALIZEON EXPERIENCE
www.barclaystreet.com
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
± 160 ACRE SITEBalzac East, Alberta
DEVELOPMENT LAND
For more information or to view, please contact:
• Located southeast of the intersection of Range Road 292and Township Road 264.
• Township Road 264 is paved to the western boundary ofthe land.
• Current use - agricultural (with a homestead). Future residential.
DOUG [email protected]
p: 780-463-3332p: 403-815-0283
FOR SALE62,814 SQ. FT.1411 – 33rd Street NE, Calgary, Alberta
INDUSTRIAL BUILDING
For more information or to view, please contact:
• Corner location withexcellent access.
• Up to 1,200 Amp powersupply.
• New asphalt, electricaland plumbing.
• Significant food, retail,entertainment close by.
GREG ALBRIGHTDAVID WALLACH
[email protected]@barclaystreet.com
p: 403-290-0178f: 403-262-1314
14 Ave NE
33 S
t N
E
FOR SALEELEVEN ELEVEN BUILDING1111 11TH Avenue SW, Calgary, Alberta
OFFICE BUILDING
For more information or to view, please contact:
QEII
Township Road 264
FOR SALE
AIRDRIE
± 160 ACRE SITEHigh Plains Industrial, Alberta
DEVELOPMENT LAND
For more information or to view, please contact:
• Adjacent to Range Road 291, one half mile south ofHighway 566. Located within minutes of the Cross-IronMills Retail and Commercial hub. RR 291 is paved and runsalong the west boundary of the land.
• Located within the High Plains Industrial developmentarea.
• Existing medium/heavy industrial uses in the immediatevicinity.
QEII
FOR SALEC A L G A RC A L G A R YY
566
McDonald Lake
DOUG [email protected]
p: 780-463-3332p: 403-815-0283
RICHARD [email protected]
p: 403-290-0178f: 403-262-1314
WAGONWHEEL
INDUSTRIAL
WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com B19
Visit www.advantagecommercial.ca
or call 403-346-6655
CENTRAL ALBERTA
Businesses, Investments, Sales
and Lease Information For further info contact: Lorne Ryz
1-888-229-0007or 403-862-6465 c • 403-775-4343 f
Bridge FinancingShort Term Financing
Private Lender 1st & 2nd MortgagesCompetitive interest rates
Fast approvalReferrals welcome!
We Want Your Apartment Building! Tired of tenant issues, upkeep expenses and eroding equity?
Aggressive mid-market apartment building consolidator is seeking additional assets in primary centers in Western Canada.
Convert your equity to a secure interest-bearing instrument. We assume your debt!
Call 403-618-7486 or email: [email protected]
COVER $600 million in government projects - including a new hospital - helps Grande Prairie turnaround
Please see Recovery page B20
DAVE HUSDAL
WESTERN INVESTOR
orthwest Alberta’s entrepreneurial city is expected to enjoy a boost from a less traditional source in
2011: government investment.Grande Prairie, which has thrived in the past
thanks to everything from its can-do spirit to high natural gas prices and growing demand for forestry products, is poised for roughly a half-billion dollars in health infrastructure invest-ment in the next few years.
That’s because the province, even in these leaner budget times, has finally found money for a long-awaited new hospital in the Peace city of more than 50,000.
Ed Stelmach’s Tories announced in July that they would proceed with a new $520 million hospital in the northwest’s regional service cen-tre. They followed up the announcement with soil testing and preparatory work on the hospi-tal site at Grande Prairie Regional College.
The project’s timing – construction is set to start this spring – couldn’t be better, according to some local businesspeople.
“It’s absolutely perfect timing for Grande Prairie to get a new hospital,” said Jamie Menzies, president of the Grande Prairie and Area Association of Realtors.
“That will create a lot of employment in the construction industry alone,” Menzies added.
This year will also mark the grand opening of the city’s new $110 million Aquatics and Wellness Multiplex. The facility will offer a full slate of recreation options in a building that connects the existing Coca-Cola Centre twin arenas and a gymnasium complex on the city’s south end.
The project has been a long time in the mak-ing and will add to the city’s debt load by about $61 million, but it’s considered an important part of what makes Grande Prairie a place to stay for more than just work.
Like the hospital – being built on the west of downtown – the new multiplex will likely impact commercial and residential real estate markets in the city over the long term.
In the short term, it should improve the chance of higher rents and stronger home sales in a city where a new-construction boom was building when the market crashed in 2008.
Public support to the economy – especially the rental market – is also seen in Grande Prairie Regional College, which has 2,000
students and more than 700 employees.There was a housing inventory of 20.4
months in July, realtors say. The good news is that fell to 17.7 months by the end of August. The rental vacancy rate has also fallen to a still-high 14 per cent. It was in the 16 per cent range in 2009, according to Canada Mortgage and Housing Corp.
On the plus side for employers looking to attract new staff, Grande Prairie’s homes are remarkably affordable, especially when you compare their prices with northern Alberta’s more prominent resource boom town, Fort McMurray. There, a typical detached home
might set you back $700,000. In Grande Prairie, by contrast, the average single-family home sold for $279,000 at the end of September. Theaverage MLS home price, including condos, was $259,000. Both figures are up about are up about 2 per cent from a year earlier.
Realtors hope the improvement in publicamenities may help attract home buyers.
“We have a very young community, a lot ofyoung families, a lot of people who are work-ing, so these amenities are the things that, oncepeople come here for work, keep them wantingto live in Grande Prairie,” said Menzies. “It’sthe quality of life, because Grande Prairie’s a wonderful city in which to raise a family.”
As a real estate agent, Menzies knows the value of showing off the amenities in her long-time home city.
While 2010 – and likely 2011 – may be slower years in a region where the level of hustle and bustle rises and falls with natural gas prices,there has still been some modest growth.Enough in fact to rank Grande Prairie Number1 this year in the Canadian Federation ofIndependent Business ’s Communities in Boom list for 2010.
The list is intended to rate a municipality onits entrepreneurialism, and Grande Prairie is typically at or near the top of the list because of factors such as self-employment, businesses per capita, net business startups and diversity.
Rhonda Side, a broker and property man-ager for Devco Developments Corp., saidsmall startup businesses backfilled bays in acity industrial park fairly quickly when estab-lished businesses started moving north of the city into larger-lot industrial subdivisions.
Like Menzies, Side is hopeful the slowdown in Grande Prairie will end in 2011. She pointsto some encouraging signs among businesses shopping for space to lease right now.
TOP Jamie Menzies, presi-dent of the Grande Prairie and Area Association of Realtors: new multiplex, hos-pital will boost jobs, housing sales. LEFT Grande Prairie Community College has 2,000 students and 700 employees.
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INNISFAIL, ABFANTASTIC EXPOSURE
Serviced and ready to build 1.23 acres at overpass and junction of QEII and hiway 2A
next to new hotel and BP. $275,000
GORGEOUS New acreage at Cottonwood overpass
includes 38 acres of development land with 1/2 mile QEII exposure. $1.2M
2 LOT PACKAGE 0.7 acres each industrial/commercial serviced,
near new bypass. Both for $197,500
MARGUERITE ROSS403-227-5309 or 403-227-2211
[email protected] EXECUTIVES INNISFAIL
RICK D. JENKINS780-990-6120 cellEmail: [email protected]
POLARIS REALTY Commercial Realtor
INVESTMENT PROPERTIES15 UNIT apartment, west end, all ones, many renos- Call for proforma23 UNIT apartment, University area, good suite mix and nice condition- Call for proforma68 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 $1,295,0002.9 ACRES INDUSTRIAL, 2 buildings totaling 11,500 sf. Excellent compaction and gravel, premium industrial property in Nisku, just east of the Edmonton International Airport and QE II highway – MLS $2,100,000 - PENDING2,145 SF C STORE AND LIQUOR STORE on 5.09 acres located at Miquelon Lake near a Provincial campsite. Approval for gas pumps is pending. Currently leased until early 2011. Great family business or passive investment income. MLS-$995,000
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!
ICI OPPORTUNITIESEAST CENTRAL AB
3 BAY TRUCK WASH - Convenience Store, Gas/Propane, only 3 years old, finances available.
FA MILY RESTAURANT - Owners retiring, will consider lease or sale of building and business. Family dining with proven financial record available to qualified buyers
LI GHT INDUSTRIAL SHOP - 6,300 sq. ft., new in 2010, built for sale or lease, adjacent to new tank fab plant in Vermilion, AB
NORTHERN LIGHTS REALTY (2000) LTD5008 - 49th Ave. Vermilion, AB
1-866-262-1649Email: [email protected]
B20 Alberta www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR
COMMERCIAL (RE/MAX Excellence)
17718 - 64th Ave Edmonton, AB T5T 4J5 (780) 429 - 1200 1(866) 481 - 2950
w w w.RemaxComm.ca
BUSINESSES
Edmonton’s Business & Investment Specialists
7 Bay Auto Wash - SE Edmonton. On 0.43 Acres - PENDING18 Hole Golf Course - Central AB. 136 Acres. Well maintained.
Power carts, driving range and more! - $2.75MHome/Bldg Franchise Bus - with Land and Buildings. High
Revenue and Net Income. Great Investment! - $3.5MModular Home Business - with Land and Building. High Revenue
and Net Income. Excellent Opportunity! - $2.5M 3 Restaurants (Business or Equipment & Leaseholds)-
Full details upon signing of Conf Agreement - Call For InfoCALL AYAZ OR SAM AT 780.641.1320
INVESTMENTNisku Multi Tenant Building - Fully leased. On 1.24 ac - $2.4MSwan Hills Hotel - $2M Revenue - $1.3MPremier Lodge - Valemount BC - $4.88MCamrose Hotels - Great Locations - $2.9M - $4.5MSouth Edmonton - 44 rooms with expansion - $3.65MFully Leased Multi-Ten Prop. - Strong Tenants. - SOLD
CALL AYAZ OR SAM AT 780.641.1320
MULTI-FAMILY22 Units Strata Titled - Queen Mary Park - PENDING20 Units - on 124 Street - $99,000 Per Door24 Units - West Edmonton - $110,000 Per Door30 Units - Near Central Edmonton - $99,000 Per Door
Additional M/F Buildings For Sale - Contact Miki Today!
CALL MIKI O’REE AT 780.200.6454
INDUSTRIAL
118 Ave Redevel. Opp - 4500 SF Comm Office and Warehouse Excellent opportunity for redevelopment - $624,700
High Prairie Commercial Bldg - 2224 SF - $349,477
LAND Nisku Commercial Land - 5 Lots. Zoned CS - $550,000/Acre Nisku Land - 1.1 Acres - $479,000
CALL AYAZ OR SAM AT 780.641.1320
LEASING LEDUC PLAZA - Retail/Professional/Medical Space. 6205 - 50th St.
Units starting at 1,000 SF. Prime location with Highway Exposure! For more information please visit www.LeducPlaza.com
CALL AYAZ OR SAM AT 780.641.1320
1261SF - Spruce Gr. Full Comm to Tenants Rep -$10.50/SF + OP 2774SF - Spruce Gr. Full Comm to Tenants Rep -$12.00/SF + OP
CALL MIKI O’REE AT 780.200.6454
CALL DEAN DRYSDALE AT 780.953.4585
Bottle Depot Business - Central AB. 5 Day Operation. $1.2M
CALL RAJAN NULLIAH 780.441.5419
HWY II Motel - 36 Rms. Excellent condition. 2.64 Ac. - $2.099M
CALL RAJAN NULLIAH AT 780.441.5419
A&W Franchise Partner Program- Edm loc - Call For InfoJoey’s Restaurant Franchises - Edm locations - Call For InfoFamoso Neapolitan Pizzeria Franchises- BC- Call For Info
CALL NATHALIE LACROIX AT 780.243.7757
InvestmentOpportunity
Montgomery Place 1899 - 45th Street NWSize: 19,812 sq ft retail podiumParking: 82 underground stallsStatus: 100% leasedLease Term: Five years or greaterSubmission Deadline: February 15, 2020
Rick C. [email protected]
Tyler R. [email protected]
Tel: 403 508 1215
from B19“Not many are leaping, but they’re looking,”
Side said.“There’s renewed interest in expansion.
Existing companies are looking for places to grow into. This is a good time to be buying land or negotiating your 10-year lease term in a bigger facility.”
Like Menzies, Side sees the new hospital project as something that will impact prop-erty sales, particularly on the commercial land closer to the west-side location.
“It’s going to happen, and we’re all pretty excited about it,” Side said, alluding to past promises by the prov-ince to expand hospital space in the city that were put on hold.
Investors that are looking for serviced indus-trial land in Grande Prairie can expect to pay as much as $300,000 an acre for ideal locations to as little as $40,000 per acre, Side says.
Industrial/commercial shop space leases in a wide $8-to-$15-per-square-foot range annually on a triple net basis, while newer office space runs in the $18-to-$22 range in the city, and new retail space is higher.
There’s not a lot of spec building going on right now, and there hasn’t been since the slow-
down hit in 2008.Still, Side says that the commercial and
industrial market is far better than it was two years ago.
Another sign of that would be a local office developer’s success in filling new space down-town.
A 40,000-square-foot addition to 214 Place by Grande Prairie Place Enterprises is now 98 per cent leased, says Shane Mudryk, the
general manager for the company whose hold-ings include 215,000 square feet of office space in several build-ings in the city.
“We feel this is a strong market, a s t rong economy,”
Mudryk said of the northwest service centre. The new addition includes a large govern-ment tenant.
While Grande Prairie is an oilpatch and forestry town, agriculture, retail trade and the public sector are key players as well, and it’s likely to stay that way, particularly as the retail service sector grows. Grande Prairie is already the service centre of choice for northeast B.C., where sales taxes are higher.
Even with the slowdown, Grande Prairie building permit totals hit $113.2 million for the first 10 months of 2010, a drop from $144.4 million in 2009. Past years have seen the num-
ber in the $300 million range.Expect to see that number spike in 2011 with
the start of the new hospital. Expect to see itspike more if natural gas prices start to climb.
In the meantime, Grande Prairie residents can enjoy the present – an affordable com-munity with a strong employment base – and dream of what’s to come: a state-of-the-art lei-sure centre in which to play, better access to health services and more development to helppay for it all.◆
Grande Prairie was ranked No. 1 in CFIB’s annual “Commmunities in Boom” competition
Population 50,227Average detached house price $278,757Apartment vacancy rate 14 per centRent for two-bedroom apt $850Prime industrial, per acre $300,000New office lease, square foot $18-$22
GRANDE PRAIRIE
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Edmonton
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WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com Alberta B21
INVESTMENT SALES
SHERWOOD PARK LAND - $26,000,000• 150 acre site along Broadmoor Blvd.• Area Structure Plan approved for Commercial
and IndustrialCONTACT IAN NEWMAN
OR MIKE PARKER
FORMER WAL-MART - MEDICINE HAT• High profile redevelopment opportunity• 12.95 acres / 100,287 s.f. building• $8,950,000CONTACT HOWARD McCANN
OR MARK McCANN
APARTMENT OPPORTUNITIES12 UNITS: All 1 bdms; Oliver area; built in 1958
14 UNITS: Twelve 2-bdms, northeast; new roof and windows
45 UNITS: All 1-bdms, built in 1981; northeast; new roof
MULTI-FAMILY LAND
OPPORTUNITIES• 1.33 acres high density multi-family land in
Wetaskiwin; can build a 40 unit building; $435,000
• 1.823 acres high density multi-family land in Wetaskiwin; can build a 90 unit building plus underground parking; $675,000
• 3.83 acres multi-family prime dev. land in Windermere, SW Edmonton
Apartment product is in demand! Please call for our opinion of value of your building!
CHRISTOPHER KAMPHIUSor RAPHAEL YAU
DEVELOPMENT OPPORTUNITIES+/- 3.84 ACRES: in SW Edmonton, Zoned IB (Industrial Business) ............................. $3,500,000
+/- 1.85 ACRES: in NE Edmonton on 50th Street ............................................. $2,250,000
+/- 13,068 SQ. FT. high density multi-family site ...................................................................... $850,000
+/- 0.31 ACRES: high visibilty location on 111 Avenue ....................................................... $610,000
CONTACT JEFF MCCAMMONOR DOUG BAUER
DUGGAN MALL - CAMROSE• ±65,136 sq. ft. separately titled dept. store anchoring a major
enclosed shopping centre; asking $4 Million ($61.40/sq. ft.)
CONTACT JEFF McCAMMON OR DOUG BAUER
STETTLER, ALBERTA• ±91,400 sq. ft. shopping centre• The Brick, Peavey Mart, Dollarama, Alberta Treasury Branch• Well below replacement @$75.50 per sq. ft.
CONTACT DOUG FOGG OR DAVID COONEY
DEVELOPMENT LAND RIMBEY, ALBERTA
• 20.64 acres development land• Residential & Highway commercial
CONTACT JEFF McCAMMON OR RAPHAEL YAU
DOWNTOWN EDMONTON DEVELOPMENT LAND
• 37,500 square feet• Significant parking and signage income• Zoned HA - Heritage Area
CONTACT DOUG RAE
SPRUCE GROVE DEVELOPMENT LAND• Adjacent to Superstore and Home Depot• Parcels from 1 - 3.75 acres• Great owner/user land
CONTACT DOUG FOGG OR MARK MCCANN
MULHURST BAY CROSSING DEVELOPMENT LAND
• 132.4 acres on Pigeon Lake• Area Structure Plan approved• 207 dwelling units• 200 site R/V seasonal park• 10.28 acres commercial development site
CONTACT JEFF McCAMMON OR DOUG BAUER
14,707 SQ. FT. SHOWCASE WAREHOUSE
• Argyll Road / Sherwood Park Freeway• Clear span warehouse; dock & grade loading• $2,950,000 BRING OFFERS!
CONTACT JEFF McCAMMON OR DOUG BAUER
DOWNTOWN DEVELOPMENT LAND• +/- 16,166 square feet• Located within The Quarters downtown redevelopment area
CONTACT IAN NEWMAN OR JEFF McCAMMON
WINTERBURN INDUSTRIAL PARK• 8,000 sq. ft. building on 8.23 acres• New building constructed in 2008• $336,783/annum net income• $3,950,000
CONTACT CHRIS SIEBEN OR ANDY [email protected]
www.cwedm.com
CUSHMAN & WAKEFIELD EDMONTON2300 Sunlife Building, 10123 - 99 Street, Edmonton, AB T5J 3H1
FORT MCMURRAY
CONTACT DOUG RAE OR BRETT KILLIPS
• Morrison Centre• 52,437 sq. ft. office building &
35,555 sq. ft. development land
• Former Fort Theatre• 36,400 sq. ft. site which includes a
14,500 sq. ft. building
www.scrcommercialrealty.com Office • 780.417.5540 (Sherwood Park)
Edmonton Area - For Sale• Sherwood Park - 7.94 Acres (next to Costco) - $635,000 / acre
• Drayton Valley - 52 Room Motel (new 2005) - $3,300,000
• Sherwood Park - 19.57 Acres Zoned C5 - $600,000 / acre
• Sherwood Park - 3.9 Acres (adjacent to Ford site) - $637,000 / acre
• Mini Storage Investment - Located on 5.89 acres - $498,000
• Edmonton - 1,355 sq. ft. Industrial Condo - $350,000
• Regional Shopping Centre - Fully Leased - $6.55 Million - 8% Cap
• West Edmonton Industrial Warehouse/Office - 14,319 sq. ft. - $1,500,000
ALBERTA PROPERTIES
FOR SALE• WEST EDMONTON - 14 SUITE APARTMENT Extensively
renovated, high occupancy, good suite mix. 6.8% CAP at $1,600,000.
• SMALL COMMERCIAL BUILDING IN WEST EDMONTON 2,300 s.f. main floor with basement and rear parking stalls, fronting very busy traffic route. Corner building with excellent exposure. Asking $399,000.
• 65 ROOM HOTEL In small Alberta town on highway 16, well designed, well built and very well maintained. 2011 forecast N.O.I. $720,000+/-. Asking price $6,650,000.
• 62 ROOM HOTEL & RESTAURANT IN ALBERTA Small town, well maintained, excellent location, 2011 forecast N.O.I. $700,000 +/-. Asking price $6,250,000
For more information please contact:SAM SIT (BROKER) at780-413-4800 Ext. 27
or email: [email protected] REALTY INC.
B22 www.westerninvestor.com JANUARY 2011 WESTERN INVESTORV
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EAST CALGARY - 17TH AVE SE 160 Acres near Stoney Trail
$23.2 Million EAST CALGARY - 84 St. NE 160 Acres near Stoney Trail
$32 Million EAST CALGARY - 17 Ave SE
13.52 Acres Stoney Trail Frontage$6.08 Million
EAST CALGARY - 17 Ave SE98 Acres near Stoney Trail
$15.6 MillionEAST CALGARY
COUNTRY HILLS BLVD66 Acres Stoney Trail Frontage
$6 MillionCHESTERMERE- SIERRA VISTA
Single & Multi Family, Retail, Golf Course, Area Structure Plan.
5-7 Units Per Acre 53 Acres - $7.95 Million88 Acres - $13.2 Million140 Acres - $21 Million160 Acres - $24 Million
KEVIN MOORE(403) 617-2846
RY - 84 St. NE160 Acres near Stoney Trail
$32 Mi
▲
FEBRUARY AD DEADLINE JANUARY 10TH
Report: Mixed use developmentParking garagesOffice market updateInvesting: takeback mortgagesFranchise NewsRecreational PropertiesRegional Roundups:BC: SookeAB: Fort McMurray/Wood BuffaloMB: BrandonSpotlight: Smithers, BC
Market your listings in the Western Investor. Thousands of private investors and real estate
professionals use the Western Investor to help guide their investment dollars
into profitable businesses.
MAKE MORE DEALS
one Deals is our monthly feature highlighting some of the major real estate transactions completed
recently in Western Canada’s vibrant com-mercial real estate market.
From: Re/Max Commercial, Surrey. Re/Max agent Dean Bauman sold the following:Deal: 8,654-square-foot commercial building on 20,922-square-foot lot, Johnston Road, White Rock. Sold to local investor for a local vendor. Price: $3 million.Deal: 9.36 acres zoned for multi-family and single-family residential; 20,000 square feet reserved for green space, 148th Street, Surrey. Sold for Pan Canadian Mortgagein a court-ordered sale to Fairmont PacificDevelopments Ltd. Price: $6.7 million.
From: Gaetz Realty Inc., Edmonton. Owner/broker Bob Gaetz reports the following sale:Deal: 6,400-square-foot, two-storey commercial building on 107 Avenue, Edmonton. Sold for Four Star Importers Ltd. to 1005027 Alberta Ltd. Price:$930,000.
From: Macdonald Commercial, Surrey. Macdonald agent Paul Purewal sold the following:Deal: 6.5 acres with 15,000-square-foot warehouse on Fraser Highway, Langley. Sold to an undisclosed investor. Price: $6.4 million.
From: Colliers International, Victoria. Colliers vice-president Michael Millerreports the following sale:Deal: Light-industrial property with mixed-use development potential, Victoria. Includes 56,000-square-foot warehouse and office on 75,577-square-foot lot in the Esquimalt community. Sold for vendor Canada Life Assurance Co. to BMW/Mini of Victoria. Full asking price: $4.25 million.
From: Syber Realty, Kelowna. Syber agent Syd Berisoff reports the following sale:Deal: 45-unit Desert Inn motel, Cache Creek. Sold for the vendor/owner to an unnamed investor. Price: $1.98 million.
From: NAI Commercial, Vancouver. NAI agents Terry Harding and Jackson Tang
sold the following:Deal: Portfolio of three apartment buildings in Coquitlam and Burnaby; 41 unit; 79 units; and 105 units. Total price: $32.8 million.NAI agent Jon Medor sold the following:Deal: 20,000-square-foot commercial build-ing, New Westminster. Price: $1.77 million.
Recently completed a major commercial real estate deal? Send details for free report here to:[email protected]
Our readers report on recent commercial real estate deals across Western Canada
Light-industrial property on 75,577-sq.-ft. lot, Victoria, sold for $4.25 million.
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8,654-square-foot-commercial building, White Rock, sold for $3 million.
105-unit apartment building, Coquitlam, sold as part of portfolio for $16.1 million.
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WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com Alberta B23
MOTELS & HOTELS≥ WAINWRIGHT Like New 60 unit motel - excellent
clientele and good occupancy, Asking $5.5M.≥ PROVOST Brand new 44 unit motel. Asking $4.5M. (These motels can be bought as a unit or separately - same owner.≥ CAMROSE 40 unit motel showing Good revenue. Asking $2.9M.≥ CAMROSE 20 unit motel, (nice Ma & Pa operation) upgraded and very clean, Asking $1.2M.≥ HARDISTY New 44 unit Motel to open in early 2011. Phone for details.≥ NAMPA, ALBERTA in busy boom town, 16 unit motel, 100 seat lounge, VLTs, liquor store and restaurant. PRICE REDUCED TO $990,000!
≥ CAMROSE ALBERTA 68 room, full services Hotel. REDUCED - NOW $5M.
≥ FULL SERVICES 63 Unit Motel with Restaurant, Pub, Liquor Store. Shows excellent Rev. Ask $7.7M
OTHER INVESTMENTS≥ DAYSLAND Convenience store and Gas Bar.,
Mechanical shop, all located on a 5 acre parcel with residence. Shows good revenue. Asking $575,000.
≥ ROUND HILL ALBERTA Fully renovated and expectionally clean hotel with tavern, 8 rooms, pool table, Lg TV screen, kitchen facilities. Great Ma and Pa operation. Asking $550,000.
email:[email protected]
FOR MORE INFORMATION CALLOREST: 780-679-8353 FAX: 780-672-1897
CAMROSE, ALBERTA
ALBERTA IS AGAIN MOVING!
Lan Acquisition an Servicing
Interim/Constructio Financing
Take-ou and Ter Financing
Leaders in Real Estate Lending
www.carevest.com
“Development FinancingSpecialists”
Victoria 250.383.6761
Calgary 403.509.0115
Vancouver 604.632.9919
Mississauga 905.848.7700
· 2 Storey commercial building, 16th Avenue, North Calgary - $995,000.00
· 33 unit apartment building condo title - $3,999,000.00· Profitable European Deli & Bakery – Calgary - $279,000.00· Middle-Eastern restaurant & grocery – land & building, Calgary - $499,000.00
· Beltline character office & retail space for lease, Calgary – Reasonable rates
· 80 acre Springbank subdivision - $4,000,000· 0.82 acre Highway commercial - $500,000 development proforma available, Sicamous, BC
· 5625 sq ft Industrial Bldg on 4 acres – Langdon, AB - $1,500,000
Bus: (403) 240-4000www.toolepeet.com
Police college eyed for Fort Macleod Hopes that Fort Macleod will become
home to Alberta’s only dedicated police college got a boost in late November when officials in that southern Alberta com-munity reported positive discussions with the provincial government about funding schemes for the long-awaited complex.
It’s looking like the not-yet-funded college, to be known as the Alberta Police & Peace Officer Training Centre, has the best chance of success with some type of public-private partnership model.
That model could see the college built with private dollars and leased by the government or a police co-op over the long term, with no direct provincial government investment up front.
Fort Macleod officials met with Solicitor General and Minister of Public Security Frank Oberle in late November, and were widely quoted in the regional media about the posi-tive tone of the discussions.
Fort Macleod, population 3,100, located 45 kilometres west of Lethbridge, was chosen as the provincial government’s preferred location for a police college back in summer 2006. It beat out 29 other communities at the time, but a lack of direct provincial funding for the project stalled its progress.
The announcement sparked interest in investment in the community at the time, but the town has experienced relatively little growth since then.
“People are waiting for something definite,” said Martin Ebel, the town’s economic devel-opment officer.
Fort Macleod has plenty of city-owned and serviced commercial and industrial land available ranging from a price of $35,000 an acre for industrial land to around $60,000 for half-acre highway commercial lots. Prices are currently under review.
The number of business licences issued in Fort Macleod was also up in 2009, Ebel said, as was the value of commercial building permits.
He noted there was starting to be a cyni-cal attitude toward the police college and whether it would ever happen, but the town’s pursuit of the college, with the hired help of Commonwealth Corporate Support Services Group, have ramped up optimism.
Cold Lake lands arenaThe City of Cold Lake has broken ground
on a new arena/event venue that will be part of the existing Cold Lake Energy Centre. The ground-breaking came in October, prior to the municipal election, one that saw incumbent Mayor Craig Copeland returned to office with more than 80 per cent of the vote.
But it was a million-dollar private donation that may have assured the arena would be started.
The election is seen as a vote of confidence in a mayor and city council for a municipal-ity that endured a ministerial review in 2010. The review, done by high-profile consultant George Cuff, found the city and its neigh-bours, most notably the Municipal District (MD) of Bonnyville, need to get along better.
Which brings us back to the new event cen-tre, and its projected cost in the $20 million-plus range.
As of early November, the facility had no support from the MD, which was instead look-ing to trim a projected $10.5 million deficit on its proposed 2011 budget – one that went before MD council without any proposed funding for Cold Lake’s new arena.
Copeland had consistently argued Cold Lake’s issues reflect a growing gap in the tax bases of urban and rural municipalities that provincial officials will have to deal with down the line for communities to remain sus-tainable.
One prominent MD taxpayer did step for-ward on its own, however, with Imperial Oil putting up $1 million in support of the build-ing, for which it will receive naming rights on the new arena.
The Alberta government has changed the regula-
tions relating to the grant-ing of development permits by municipalities – a change that should make permits easier to come by.
The amendment, passed by an order-in-council November 25, nixes the power of munic-ipalities to order the submis-sion of reports to a council prior to an actual development permit application.
The government’s action was a fairly direct response to the Town of Canmore’s practice of requiring what are known as sustainability screening reports for developments of significant size prior to the regular development permit screening process.
The town wanted reports to detail how a project would add to the long-term sustainability of Canmore and address items such as environmental concerns and affordable housing – a longtime issue in the Rocky Mountain community.
The change in the regulations was hailed by Canmore development industry officials but predictably weren’t embraced by Canmore Mayor Ron Casey.
“The side that bothers me the most is the provincial government changing regulations for the entire province to deal with something that is a local issue,” Casey told the Rocky Mountain Outlook.
Municipalities will continue to be able to use screening reports to deal with items such as proposed changes in land-use bylaws, subdivisions and municipal development plans, but won’t be able to provide the extra level of non-appeal scrutiny to development permit applications.
Canmore: “sustainable” screening triggered province-wide change.
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Urban housing prices stagnateBig-city housing prices continue to stag-
nate in Alberta.The Realtors Association of Edmonton
reported in early December that the aver-age selling price of a single-family home in that city was down 0.5 per cent in November from a month earlier and 2.5 per cent from 12 months earlier. It sat at $362,657 for November.
In Calgary, the average single-family home price was up 2 per cent from the previous month, to $455,466. That’s an $11,000 price hike, but the average price was still 2.5 per
cent below November 2009.Calgary Real Estate Board chair Diane
Scott acknowledges the late 2010 numbers were a surprise.
“Indeed, the second half of 2010 has prov-en to be weaker than expected, and Calgary’s housing market is taking some time to regain traction,” said Scott. “Subdued sales have meant buyers have an abundance of products to choose from, and they can be selective in their buying criteria.”
For 2011, forecasts are for a slow but steady recovery of the housing market in both cities, according to Canada Mortgage and Housing Corp., but an increase in the price of oil could put both Calgary and Edmonton housing mar-kets back on track.◆
– Compiled by David Husdal
B24 Alberta www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR
Wayne Moen at RE/MAX River City (780) [email protected] • www.waynemoen.com
EDMONTON A L B E R T A
3910-82 Avenue, LeducTwo separate buildings on 4.5 acres in Leduc Industrial Park sold together or separately. Each building in new and vacant with 8 separate bays each with individual condo title. Six units 3900 sq.ft., 2 end units 3250 sq.ft. Grade loading 14’ x 16’ doors. Paved front and back with heavy truck access. Metal clad building. Pre engineered building. Provision for mezzanine. $8,400,000
1101-16 Avenue, NiskuNew industrial warehouse complex on 4.37 acres in Nisku. Two buildings comprising 50854 sq.ft. of warehouse bays with offi ce. Just leased to national tenant for fi ve years, net operating income of $546,680.52. Provides Cap rate of 7.5. $7,300,000
2 COMMERCIAL CONDO COMPLEXES – FOR SALE
FULLY LEASED WAREHOUSE COMPLEX – FOR SALE
14641-119 Avenue, Edmonton New condo warehouse – The Wave on 119th Avenue. 5 Bays sold as a package 14641, 14645, 14649, 14653, and 14657 119 Avenue, 8505 sq.ft. on main level, mezzanine, zoned IM, on 0.41 acres of land. $1,490,000
WAREHOUSE CONDOS – FOR SALE
Call CARL STEPP cell: 403-358-9300www.sylvanlakehouseguy.com Lakefront Property at Unbeatable Prices
RE/MAX real estate central alberta
INVEST IN SYLVAN LAKE Lots of great Opportunities
Sylvan Lake – the shortest distance between paradise and the place you call home
32 acres$1,800,000
152 acres$2,999,000
Garage Storage Bays$115,000 www.myspacegarage.ca
Now's the time to buy lakefront @ Sylvan Lake,
Brian Fedorick Licensed Realtor in the Province of
Alberta A.L.L. Stars Realty Ltd
Direct: 780-446-3125Office: 780-434-4700
ALBERTA HAPPENINGS!MUFFLER, BRAKE & LUBE Shop Located in Wetaskiwin. 4 bays in a 4,000 sq ft building. Building, land, equipment and stock included in the price. Asking $595,000. For more info and photos go to ICX.CA. MLS #E1010426
IDEAL FAMILY BUSINESS General Store located 45 minutes from Edmonton. 5 businesses in one location. They are a Gas Bar, Coin laundromat, Liquor store, Grocery store, Restaurant and weather permitting a Ice Cream wagon. 2 story building with 1,650 sq ft 3 bedroom living quarters on the upper floor. Gross sales are over 2.0 mill. Asking $990,000. For more details and photos go to ICX.CA MLS #E1012682
F O R S A L E F O R S A L E N E E D S
PAGE REGAN
L A N D D E V E L O P M E N TROB REGAN 780-490-9324
BRIAN PAGE 780-233-8438
RE/MAX Real Estate 780-488-4000
Each office is independently owned and operated.
Each office is independently owned and operated.
3.56 acres of partially developed waterfront land located on the Shuswap channel in beautiful Sicamous, British Columbia. This parcel of land is zoned R1 - R2 and C4 with Marina approval 118 boat slips. The property has Phase II Environmen-tal Report as well as Fisheries& Highway approval. The site has foreshore right of way, water, sewage and power. There are a number of buildings in-
cluding two rental residences and private houseboat storage. Several extensive development concepts are already in place. This incredible opportunity awaits your development!
$4,900,000
STACEY JAMIESON 403-993-6595 www.stacey-j.com [email protected]
T his is a developer's D ream!T his is a developer's D ream!T his is a developer's D ream!
RE/MAX REALTY PROFESSIONAL
1-800-661-6988
www.westerninvestor.com
WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com Alberta B25
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
QUARTER SECTION
OVERLOOKING
COLD LAKE,
APPROVED AND RE-
ZONED BY M.D.
OF BONNYVILLE FOR:
CR3 COUNTRY
RESIDENTIAL 160:
1/2 ACRE LOTS WITH
WATER AND SEWER SERVICES WITH LOW
PRESSURE WATER AND COLLECTOR FOR "GREY WATER."
DEVELOPMENT OPPORTUNITY AWAITS TO PROCEED WITH THIS ESTATE
LOT SUBDIVISION, WITH PLANNING IN PLACE. PROFIT RETURN TIME
ON YOUR INVESTMENT IS REDUCED.
RESIDENTS CAN ENJOY THE BENEFITS OF COUNTRY AND LAKE
ENVIRONMENT WITH SERVICED LOTS AND AT THE CITY BOUNDARY.
REVENUE OPPORTUNITIES
4-PLEX IN COLD LAKEPRICE $525,000 FULLY OCCUPIED
Larry Melanchuk, Associate Broker Cell: 780.826.0100 www.coldlake.info
TF: 1.800.707.8374 A Division of Cold Lake 2000 Realty. Independantly owned & operated.
RE/MAXCold Lake
2000
DEVELOPMENT OPPORTUNITIES
THE VIEW FROM 150 ACRE SITE!!
$3,750,000
MULTI FAMILY DEVELOPMENT PROPERTY
$315,000$695,000
INVESTMENTS CALGARY AREA
RE/MAX ACA REALTY
(403) [email protected] Realty
AIRDRIE
CROSSFIELD
5000 sq. ft.137 acres
141 acres
132 acres
279 acres
3- ¼’s-
PRICED TO SELL 4.8 acres
¾ acre137 acres
East Balzac
BEISEKER
809 sq. ft.
Trailer Park
320 acres
Coffee ShopGoalie Equipment & Development
For more information on these and other properties
DON SACKETTcall
JERRY RACZKOWSKI780-932-2121 e-mail: [email protected]/MAX Real Estate Commercial Division
12,000 SQ.FT. WAREHOUSE
6 bays @ 2,000sq.ft.$172,000 Triple Net
FURNACE CLEANING BUSINESS with 7000 clients list.
Plus 4 vacant lots very profi table businessPackage deal or building’s only
Land, building and house with Licensed Restaurant and mini Golf Course 6400 sq ft
40 ACRE LAKE FRONT40 acres lakefront with grovel zoned Country Residential
www.AlbertaInvestor.com
BED AND BREAKFAST VALLEYVIEW
12,500 SQ.FT. INDUSTRIAL BUILDING
2x 18 feet overhead doors with mezzanine
5000 SQ FT WAREHOUSE
Only 3 years old Fully leased until 2015 $72,000 Triple Net
6,000 SQ.FT. RETAIL/OFFICE BUILDING
HINTON, ALBERTAMOTEL FOR SALE
20 minutes East of Jasper Park Gates
$950,000 Colleen Bowes
780.865.1200 or 780.865.0768 [email protected]
REDUCED
Each office is independently owned and operated.
Each office is independently owned and operated.
604-669-85001-800-661-6988
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B26 Saskatchewan www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR
SASKATOONAPARTMENTS
Ajit Matharu • 306-581-3130Email: [email protected]
Charmaine Luscombe • 306-535-3948Email: [email protected]
HOMELIFE CRAWFORD REALTYServing Regina for Over 20 Years!
COMING SOON! •34 UNIT MOTEL - SK • NEAR NATIONAL PARK - HOTEL, OFFSALE,
RESTAURANT, POOL, - OWNERS RETIRING!
80 + APARTMENT COMPLEX CALL FOR DETAILS!
2 BUILDINGS SIDE BY SIDE - Regina, SK (1) 1757 Halifax - $225,000 (2) 1759 Halifax - 5550 sq ft - $439,000
GREAT STORAGE BUSINESS!! - Approx. 100 storage bays plus RV storage. 5 years old. Have banker to finance. Asking $3.4 million
FORT QU'APPELLE, SK - 120 & 102 Broadway Street. Buy as a package. Great location in town! $165,000 and $275,000 respectively.
240 FRONT FEET DEWDNEY AVENUE - Was a Car Lot! Asking $590,000 - Adjacent Storage Business - Great expansion possibilities!
50 UNITS - in Regina. Apartments. Conditional Sale!
24 UNIT APARTMENT BLOCK
1800 McDonald street - Light Industrial, 50'x125'. Asking $89,900
GRAVELBOURG - 9 room Bed & Breakfast. - REDUCED - $199,900. On 2.39 acres
24 UNIT APT CONDO - Titled - Major renovation done - Moose Jaw, SK. Condo title. Asking $2.5 Million
5.5 ACRE DEVELOPMENT SITE - on #1 Highway - East side of Regina. Ideal development for hotel, motel, storage business. Asking $3.6 Million
HOTEL with great upswing potential in Manitoba. Don't miss! Full service. 62 Rooms, Pool, 30 VLT's + Free Standing Nightclub - 500 seat capacity w/Beer Vendor store. Asking $3.2 Million
4 HOTELS - Franchised Alberta - Great Locations! Total 374 rooms, confidentiality agreement and proof of buyers financial capabilities
APPROX. 28,000 SQ FT - 3 story concrete building, Elevator, Multi Tenants, on approx., 40,000 sq ft lot - Asking $2.9 Million
WANTED: Apartments Strip Malls, Hotels/Motels
PRAIRIEDEALS
604-669-8500 1-800-661-6988
Do you have a
Advertise your listings in our
special feature.Reach potential buyers with money to spend. Western Investor readers have higher than average household income and a real interest in real estate.
Recreational Real EstateADVERTISING FEATURE:
Accelerating success.
Colliers McClocklin Real Estate Corp. / 306 664 4433 / www.colliers.com/saskatoon
Ken Suchan* 306 221 1825
• 99,913 SF industrial building
• 11,628 SF two-storey offi ce
• 14.5-23.5’ warehouse ceilings
• List Price: $5,750,000 Excl.
1402 QUEBEC AVENUE
Kevin Johnson306 281 9929 [email protected]
• 36,353 SF industrial mfg. bldg.
• 4.66-acre site with 6,600 SF offi ce and 11,440 SF Cover-All
• List Price: $5,360,000 incl equip or $4,300,000 excl equip MLS®
240-103RD STREET EAST
Gary Compton306 260 6975
• 363,520 SF fl oorplate on 13.774 acres by logistical infrastructure
• Ideal for distribution, warehousing and/or manufacturing with high ceilings, freezer, cooler and warehouse
• List Price: $18,870,000 Excl.
302 MELVILLE STREET
Jason Wionzek306 227 [email protected]
Glen Paziuk306 241 8884
1415 ONTARIO AVENUE
Brian Peberdy306 221 6090 [email protected]
FOR SALE INDUSTRIAL FOR SALE RURAL LAND FOR SALE
*Ken Suchan is a Licensed Broker with Ken Suchan Realty Inc. and has a contractual relationship with Colliers McClocklin Real Estate
FOR SALE FOR SALE
HIGH-RISE COMPLEX FOR SALE
• 80,360 SF building
• 4.5-acre site
• List Price: $5,950,000 Excl.
7.82 AC, WARMAN, SK • List Price: $3,310,000 MLS®
72.0 AC, CORMAN PARK • List Price: $900,000 MLS®
78.4 AC, CORMAN PARK • List Price: $990,000 MLS®
93.04 AC, CORMAN PARK • List Price: $1,200,000 MLS®
CRESCENT TOWERS • 69 suites
• List Price: $8,595,000 Excl.
SASKATOON
Tim Hammond, BSA, P. Ag.
Owner - Brokerwww.TimHammond.ca
306.948.5052 Office306.948.9168 Cellular
[email protected]! Location! Location! 307 Main Street, Rosetown, SK (Nickells & Diamonds) Incredible commercial property featuring 3,400 SqFt building with 2,420 SqFt of elegant, open retail space. Updated and renovated. Shows very well. $185,000 MLS 384857. Optional jewellery / gift ware business available. Call Tim Hammond Realty in Biggar 306-948-5052.
Demaine Hotel, Demaine, SK Incredible Business Opportunity located in one of the best hunting, fishing & recreation areas in South Central Sask., close to Lake Diefenbaker. Business revenue lines include: 7 hotel rooms, full service restaurant (seats 36), takeout pizza, beverage room licensed for 96, steak pit & VLTs. Loyal cliental & seasonal traffic generate excellent returns. $399,900 Excl. Call for details
This 11 person full service care home presents a tremendous business opportunity in Biggar, SK. It features a total of 9 bedrooms (6 on the main & 3 on the lower level). The main floor level measures 1,805 SqFt with a partial 1,388 SqFt basement. It is
located across from a beautiful park and only a half block from the skating & curling rinks. Optional residence next door is also available. $230,000 MLS 384977
601 Saskatchewan Ave. E, Outlook, SK Former Farm Service Centre with an ideal location. Building #1 (office/warehouse building) 7,320 sq ft, heated front office and front workshop, 8,160 sq ft cold warehouse storage area. Building #2
(Bulk Fertilizer Storage) 3,528 sq ft with 2 overhead doors. Offers unlimited potential for a variety of uses. $427,500 MLS 385529
WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com Saskatchewan B27
605A Main St. N.MOOSE JAW, SK
Email: [email protected]: www.royallepagelandmart.com
LANDMART
Independently Owned and Operated
Call Brian Walz or Mike Walz(306) 631-1229 or (306) 631-7232
COMMERCIAL PROPERTIES MOOSE JAW, SK & DISTRICT
Excellent commercial property in Moose Jaw. Large buildings with lots of property. Owner will sell in 2 separate units. Plenty of office and warehouse space and large yards.
Prime commercial property in Moose Jaw. Beautiful big store front windows. Excellent location. This is an excellent facility with endless possibilities. Call for details.
Excellent commercial property suitable for many types of businesses. Located on the North Service Rd. in Moose Jaw. 16 acres. Multi-purpose buildings. Service road frontage with easy access and good visibility from TransCanada highway. Call for details.
FOR SALE115 Corman Street, Warman, SKLand Size: 1.13 acres Building Size: 2,500 sq. ft. warehouse, plus 720 sq. ft. detached office Sale Price: $425,000.00Contact: John Kachur
FOR LEASEMatrix Business Park Phase II 3703 Millar Avenue, Saskatoon, SKLand Size: 4.64 acres Available for lease: 5,250 sq. ft. - 75,500 sq. ft.Contact: Jayson Elenko
SALE INVESTMENT1210 7th Avenue North, Saskatoon, SKLand Size: 0.73 acres Building Size: 9,540 sq. ft. Sale Price: $2,115,000.00Contact: Jayson Elenko
www.icrsaskatoon.comDowntown office: 306.664.6116 North office: 306.933.2929“Saskatchewan’s largest commercial real estate company”
SASKATOON LAND LEASES AVAILABLE• Lease rate under 4% fixed for 10 years• Fixed option to purchase• No down payment required• 3.81% Fixed interest rate for 10 years
(interest rate as of 1/12/10 subject to change)• Pay interest only for 15 years (option to extend for an additional 5 years)• Fully serviced industrial land • Lot sizes vary from 1 acre to 7 acres
For further information contact:
LLOYD HEDEMANN(306) 934-3377
Email: [email protected]
Province is back in the blackThe Saskatchewan government is no lon-
ger spending more money than it takes into provincial coffers.
Finance Minister Ken Krawetz said stron-ger than anticipated revenue from corporate income tax is one of the factors that will help the province finish the 2010-11 year with a $137 million surplus in the general revenue fund.
Half of that, or $68.5 million, will auto-matically go into the province’s Growth and Financial Security Fund – which is commonly referred to as a rainy day fund – leaving it with a projected year-end balance of about $1 billion.
The Saskatchewan government had previ-ously anticipated that it would need to dip into its rainy day fund in order to balance spending.
Krawetz called the provincial economy strong, with forecast GDP growth of 1 per cent this year and 4.2 per cent in 2011, while also sounding a message of fiscal caution.
Government public debt is forecast to stay unchanged at $4.1 billion, while Crown corpo-ration debt is projected to increase by about half a billion dollars from March 31, 2010, to $4.4 billion.
Krawetz said the borrowing done by the Crown corporations is “planned debt” that’s necessary as businesses such as SaskTel aim to keep up with infrastructure needs in a growing province.
The general revenue fund is forecast to receive $10.68 billion this year, up $726.2 million from the March budget – an improve-ment due in part to stronger than expected Crown land lease sales, higher oil revenue and a special dividend from the Crown sector to cover the government’s children’s hospital commitment.
Expenses are expected to increase $415 mil-lion to $10.54 billion.
Wood plant opens after two yearsWeyerhaeuser Co. Ltd. has reopened its
oriented strand board plant in Hudson Bay, Saskatchewan, that it had closed in July of 2008, leaving 140 people without jobs.
Dave Ferguson, the town’s economic devel-opment officer, said two of the four shifts are back to work at Weyerhaeuser.
He also said it will take time, but the majority of the plant’s workforce is expected to be recalled.
Ferguson says production volume will be limited this year and will be based on demand and other economic factors.
China inks uranium deal Cameco, the Saskatoon-based uranium
producer, has signed a second deal within a year to supply millions of pounds of uranium concentrate to China.
A few weeks ago, Cameco announced a deal to supply China Guangdong Nuclear Power Holding (CGNPC) with 29 million pounds of uranium concentrate through 2025. That was preceded in June by Cameco announcing a deal to supply the China Nuclear Energy Industry Corp. (CNEIC) with 23 million pounds of uranium concentrate through 2020.
Cameco CEO Jerry Grandey said there are still opportunities for the company in China.
“There are two major nuclear utilities [in China] and [CGNPC] would be the second one, so it really positions Cameco well in a growing market and hopefully obtain more business as time goes on,” Grandey told a local news-paper.
The CEO estimated between 10 and 15 per cent of Cameco’s uranium will be sent to China during the next decade. The United States remains the company’s largest export destination, receiving around 50 per cent of Cameco’s product.
With both CGNPC and CNEIC expanding their nuclear power capacity, and the country
Saskatchewan wil l lead al l Canadian provinces in eco-
nomic expansion this year, posting an enviable 3.3 per cent growth, according to Scotiabank. The Conference Board of Canada and Royal Bank also pick the province for nation-leading economic expan-sion – and commercial real estate sales – this year.
The West will lead Canada in 2011 and for years to come as the country’s economic strength continues to shift toward resources and away from manufacturing, says the author of Scotiabank’s Provincial Trends report.
“With Central Canada being much more tied to the U.S. economy, we see the western provinces outperforming mainly on the fact that the one thing that’s going to keep going in spite of decreased activity in the U.S. is our commodity exports,” said economist Alex Koustas.
The power can be seen in the industrial real estate market, with Saskatoon and Regina leading all of Canada in low vacancy rates, at 2.5 per cent and 2 per cent, according to a study by Colliers McClocklin Real Estate Corp., Saskatoon. Saskatchewan’s growth is led by a resurgent potash industry, investment in the resource sector and continued expansion of the service sector, aided by strong in-migration, Scotiabank said. The strong economy has supported an increase in both international and interprovincial arrivals, supporting above-average population growth and retail sales in 2011.
Labour demand is expected to remain reasonably firm through this year, resulting in an average annual employment gain of 1.3 per cent into 2011.
Crude oil production in 2010 is expected to remain steady for the next few years, as improved drilling technology has helped offset natural depletion by increasing recovery rates from existing wells. The Bakken light oil play in southeastern Saskatchewan continues to attract industry interest.
Potash production will pick up in 2011, as farmers are forced to replenish stocks after forgoing purchases last year, demand ramps up in China and relatively high crop prices encourage further planting. Long-term plans still have the industry nearly doubling capacity by 2015, Scotiabank suggests.
as a whole increasing its nuclear energy gen-eration base, Cameco hopes to capitalize on the nuclear program.
China is expected to increase its nuclear capacity from 11 gigawatts (GW) today to at least 80 GW by 2020 and between 120 and 160 GW by 2030.
“Over time, as their program succeeds and as other utilities in China – many of whom are bigger than the two utilities that we’ve got contracts with, but they’re not nuclear utilities so far – they all want to get into the
nuclear construction business, so as they do we see plenty of other opportunity in China,” Grandey said.
Cameco, which is working toward a goal of producing 40 million pounds of uranium by 2018, will be “absolutely” able to meet its cur-rent commitment to send 52 million pounds of uranium concentrate to its Chinese customers through 2025.
The company now produces about 22 million pounds of uranium annually.◆
– Compiled by Joe Ralko
Saskatoon has the lowest industrial vacancy rate in Canada’s fastest-growing economy.
Phot
o: M
icha
lkun
B28 Saskatchewan www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR
Congratulations…to the MOOSE JAW-REGINA INDUSTRIAL
CORRIDOR Committee on their agreement,
representing eight municipalities including
the cities of Moose Jaw and Regina, to work
cooperatively to create mutually benefi cial
economic development in the region along the
Trans-Canada Highway between the two cities.
This agreement builds on a cluster of
industries featuring companies which
process and manufacture products such as
fertilizers, salt and ethanol and provide storage and
handling of crop protection products and
logistics and transportation services.
88 Saskatchewan Street East | Moose Jaw, Saskatchewan | Canada | S6H 0V4
For business and investment opportunities in the Industrial Corridor contact the South Central Enterprise Region:
[email protected] | www.southcentralenterprise.ca Phone (306) 693-7335The South Central Enterprise Region is
committed to ensuring business and industry have access to shovel-ready land and services. Located in the Heartland of the Prairies it is a place to do business, where companies can capitalize on existing resources and utilities.
Tuxford
Drinkwater
Mt. Pleasant Stony Beach
Buffalo PoundProvincial Park
Keystown
Pense
Belle PlaineMadrid
GrandCoulee
Regina
Moose Jaw
M O O S E J AW - R E G I N A C O R R I D O R
641
641
1 1 1 1 1301
1
WESTERN INVESTOR JANUARY 2011 www.westerninvestor.com B29
struction and then homes for employees after completion.
“This area is ideal due to a number of factors but especially our infrastructure,” Lemon said. “There’s easy access to utilities, a solid road network plus both the CP Rail and CN Raillines are nearby.”
The newest addition to the industrial corri-dor is Alpine Plant Food, which opened its $9 million facility two months ago. It can produce 700,000 litres of liquid phosphate fertilizer and other micronutrients.
The potash mine, which opened in 1964, is now owned by Mosaic. There are almost 700 people who work at the facility, which pro-duces about three million tonnes annually of potash for industrial use.
Mosaic is located directly north of where the TransCanada Highway loops over the CP Rail line just west of Belle Plaine.
elle Plaine in southern Saskatchewn has just 64 full-time residents, but the tiny village is the industrial
nucleus for hundreds of employees. And Belle Plaine is also on the radar under a new “industrial corridor” concept.
Eight local governments have raised $100,000 – funds matched by the province – to help the newly-established Moose Jaw-Regina Industrial Corridor Stakeholders Committee further develop the region along the Trans-Canada Highway between the two cities.
There now are more than 1,000 people who work at a potash mine, nitrogen fertilizer com-plex, ethanol plant and a company that manu-factuers table salt in the cluster near the village of Belle Plaine, about a half-hour’s drive from both Regina and Moose Jaw.
“We, as well as the other rural municipalities in the industrial corridor, are dealing with sev-eral potential developments at any one time and offering a one-stop shop will enable corpora-tions, small and medium-sized businesses and individuals to have access to shovel-ready land
and services,” explained Tom Lemon, reeve of the RM of Pense (which includes Belle Plaine) and chair of the stakeholders’ committee.
“This agreement takes a great idea and begins to make it a reality,” he said. “We are formal-izing our committee into a regional body. We have a long-term view and agreement to work together to make it happen. We have experts in place to create a plan for the region that ben-efits all of our communities.”
The area appears to be an ideal location for green-field projects. The flat land is easy to build upon and proximity to the major cities provides large labour pools, initially for con-
SPOTLIGHT Tiny village proves pivot for giant manufacturing plants, new Saskatchewan trade corridor
JOE RALKO
WESTERN INVESTOR
Literally across the Kalium Road is the world’s largest nitrogen fertilizer complex,Yara Belle Plaine. Opened in 1992, the formerSaskFerco Products Inc. facility was acquired in 2008 by Yara International for $1.6 billion.SaskFerco had been a $435 million commer-cial joint venture between the Government ofSaskatchewan and Cargill.
The Nachurs liquid fertilizer plant also oper-ates near Belle Plaine.
Terra Grain Fuels opened about two yearsago and has the capacity to produce about 150 million litres of ethanol and 163,800 tonnes of dried distillers’ grains. Ethanol is a clean-burning fuel made from agricultural products such as wheat or corn. Distillers grains are a co-product of wheat-and-corn-based ethanol that are used as animal feed.
The reeve said some proposed develop-ments for the industrial area include the TransCanada Polygeneration project, ETX Systems and Terra Max.
The global economic downturn delayed plans for the proposed $4 billion polygenera-tion facility. It would have been the largestindustrial construction project in the history ofSaskatchewan.◆
Nachurs fertilizer plant among giant employers surrounding tiny Belle Plaine.
Phot
o: N
achu
rs
Population 64Average house price $200,000Potential Manufacturing and transport expansion
Ed Bobiash Farm & Acreage Specialist
306-222-7770 [email protected] www.SaskLand4Sale.com
RE/MAX Saskatoon
Bradwell Grain land - very good production, 630 acres in a block w/treated waterline curb stop, currently rented for 2011 crop year. $599,900Eley Grain land - Hwy #16 Frontage East of Saskatoon $139,900 Bradwell Hay Land/Acreage #2 Frontage South East of Saskatoon $89,900202 3rd Ave West - Unique Log Home on large lot backing golf course $449,900Mathers Mixed Farm Pasture/Hay/Forest/Recreational - with bungalow, 2 barns, machine shed and greenhouse. NW of Shellbrook 477 acres $289,900Plunkett Farm Site power, workshop. Hwy #16 at Plunkett. 156 acres $89,900Other land development opportunites
pending. Call today.
Sterling Land = 70 +/- acres East of Saskatoon, bordering future development, rolling hills with natural bush $889,900
Blackstrap Lakefront - NE edge of Blackstrap Lake $1,475,000
Tamke Land = 160 acres on blacktop South of Saskatoon $559,000. Other 160 acre pkgs priced @ $299,900 and $349,900
Great Riverview Property 110.43 acres overlooking North Saskatoon River. $179,900
Schumacher Acreage Business Site Acreage set up for small business with offi ce, workshop and house, off Hwy #7 West of Saskatoon $759,900
Hill Acreage Opportunity on 80 acres, East of Saskatoon off Hwy # 5 $109,900
ACREAGE DEVELOPMENT POTENTIAL
GRAIN LAND INVESTMENT
OPPORTUNITIES25% DOWN BALANCE MORTGAGE (OAC)
Call today for your opportunity
Wakaw Gravel Land - 160 acres $350,000
GRAVEL DEPOSIT INVESTMENT LAND
View these MLS® listings on my website
St. Brieux, SK
Melfort, SK
ANDY EVERTONCell: 1-306-921-9396Offi ce: 1-306-752-8470Toll Free: [email protected]
RE/MAXKeystone RealtyMelfort SK
Executive/Retirement Home Lakeside
Exceptional Quality$599,000
Retail/ commercial space to rentCommercial and industrial lots for sale
All enquiries welcome.
St. Brieux, Sask.Ag and Auto SupplySupplier for large local industriesPlus retail and commercial sales.
2009 sales $894K$785,000 Shares
MLS® #386278
www.avisonyoung.com
This opportunity has three retail properties for sale which are located in Humboldt, Saskatchewan, Thompson and Winkler, Manitoba.
Requests for Confidentiality Agreement and access to the electronic data room should be directed to Sherry Comte at [email protected]. Expression of Interest must be
submitted by January 14, 2011 at 4:00 p.m. CST
Douglas McMurrayAY British ColumbiaD 604.647.5082
Murray BonkAY ManitobaD 204.947.3423
Ext: 115
Jamie McPetrieAY ManitobaD 204.947.3423
Ext: 121
Dale GriesserAY SaskatchewanD 306.359.9799
FOR MORE INFORMATION CONTACT:
FOR SALE - NATIONAL ANCHOREDRETAIL INVESTMENT OPPORTUNITY
Turn key concrete business in Kindersley, SK. Sale includes equipment, building and gravel pits. Staff will stay on and present owner/manager will stay to train.
Contact: [email protected] call 306-463-4515
Phone: 306-783-1777Four Seasons Realty Ltd
TWENTY TWO ROOMSREDUCED! $359,000 ESTEVAN
SASKATCHEWAN1/4 Sectioin subdivided into 5 x 32 acre country residntial lots. Newly
serviced with gas and electric. Across the road from city limits.
Could be re-zoned.Asking $600,000
Call 403.397.8525
B30 Manitoba/Franchises www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR
Arborg open for businessArborg, a town of 1,617 people about an
hour’s drive north of Winnipeg, is on the hunt for investment dollars as immi-grant workers continue to arrive in the community.
Pam McCallum, economic development officer for Arborg-Bifrost (the latter is the rural municipality), said the town’s popula-tion has grown by 40 per cent over the last five years. That has meant houses are selling almost immediately after being put up for sale – and for higher prices, too – and rental properties have waiting lists.
She said the town needs additional hous-ing, a hotel, more campground sites and a more diversified base of retailers to keep its growing number of residents happy. She said in addition to Winnipeg entrepreneurs, she’s also hoping to attract money to the “Growing Arborg” campaign from former residents who have moved away.
Nearly 150 families have moved to Arborg since 2007, emigrating from such far-away places as Bolivia, Paraguay, Belize, Mexico, the Philippines, Germany and Russia.
To ensure they don’t pack up and move back home if they encounter any difficulty, Arborg officials make sure to help the new-comers cut through the red tape associated with moving to another country, such as get-ting a driver’s licence and a health card, quali-fying for Canada Revenue Agency’s child tax benefit and opening a bank account.
Interlake resort in receivershipAfter months of speculation, the high-
est-profile hotel in the Interlake region has fallen into receivership.
The Radisson Hecla Resort was placed
into receivership last month by the Business Development Bank of Canada (BDC), its largest creditor at $8.5 million. The province, through its Manitoba Industrial Opportunities Program, is owed $5.5 million, too.
Joe Paletta, president of the Paletta Group, which ran the hotel for the last three years, said while it did a good wedding and special events business from the spring through to the fall, it wasn’t able to attract a sufficient number of customers to its cross-country skiing and snowmobile trails and wildlife viewing in the winter to make the 90-room property economically viable.
Paletta isn’t standing pat, however. He filed a statement of claim last month against the BDC and the province. He said his company has sunk nearly $20 million into the Hecla property since it signed a lease more than five years ago.
Winnipeg-based Lazer Grant has been appointed as the receiver for the resort. It is not clear whether it will reopen next spring.
Winnipeg pushes for head officesYes! Winnipeg, a chamber of commerce
initiative designed to attract head offices and maintain existing companies in the Manitoba capital, is off and running and optimism is high.
It set out in the spring to raise $6 million, two-thirds of it from the private sector, to fund an operational budget of about $1.2 million annually for five years, and it easily surpassed its goal.
Bill Morrissey, leader of Yes! Winnipeg, said the objective of its nine-person staff is to achieve even a fraction of the success experi-enced by Nashville, Tennessee, which under-took a similar initiative and opened its doors to more than 350 head offices in 12 years.
He was quick to add that while external attraction was “crucial” for Winnipeg’s future growth, Yes! Winnipeg will also focus on helping local businesses expand, too, though there are only vague details on how it will help.
Charlie Spiring, Yes! Winnipeg’s chair, said he was especially pleased to see that 115 dif-
Winnipeg’s Exchange District is growing up into a full-
fledged neighbourhood.The area has long been the home
of the city’s arts and cultural com-munities but it has never been able to attract more than the diehards to live there. That’s beginning to change.
The most significant develop-ment is the pending ribbon-cutting of All City Modern Convenience, a 1,400-square-foot grocery store, the first in the area. Talia Syrie, co-owner of All City, said she believes a grocery store is “desperately” needed because any time residents run out of dish soap, for example, they have to get in their car – or worse, take the bus or a cab – and go to another neighbourhood to restock.
Its captive customer base will no doubt include residents from the several batches of con-dominiums set to begin construction over the next two years. Kurtis Sawatzky, president of James Avenue Holdings, said his plan is to immediately renovate 128 James Street for both commercial and residential purposes – including 10 condos scheduled to open in the summer – and to knock down the building next door in 2013 and build an eight-storey residential tower housing 60 condos.
Federal and provincial funds have also gone into refurbishing the area, such as the fund-ing commitments for the historic revitalization of the Union Bank Tower in the Exchange District. The Union Bank Tower will become the new home of Red River College’s culinary and hospitality programs and a 100-student residence.
ferent businesses, ranging from mom-and-pop shops up to Great-West Lifeco, Investors Group and the Royal Bank, got out their chequebooks in support of the cause.
“The guys who put in $10,000 to $30,000 is where we really hit it out of the park. We’re strong and we’re going places,” he said.
Rigby expands wine productionFaced with its bottles flying off liquor
store shelves like never before, Manitoba’s only winery was left with no choice but to expand.
Rigby Orchards Ltd. has just received a pair of new 1,000-litre tanks, bringing its
total up to four. The move will actually triple Rigby’s capacity as three different batches will be able to be worked on at one time, said Grant Rigby, its owner.
Unlike traditional wineries, Rigby uses a combination of raspberries, black currents and honey, rather than grapes, to produce its four different recipes.
Rigby grows raspberries and black currents on his farm near Killarney, located about two hours southwest of Winnipeg, and sources his honey from another Manitoba producer, Bee Maid Honey Ltd. He ferments the raw mate-rial, bottles the liquid one at a time and care-fully places a label by hand on each one.
He said his wines are popular with Manitobans because they can appreciate the unique ingredients.◆
– Compiled by Geoff Kirbyson
Refurbishing historic Urban Bank Tower part of the Exchange District makeover.
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Franchiseek goes mobileIn a bid to stay one step ahead of its com-
petitors, International Franchise Inc.’s website, www.franchiseek.com, has launched a mobile site to cater to the investor on the go. The new mobile site is specifically designed to be viewed on a variety of hand-held devices and is fairly simple and easy to navigate.
Viewers can search the international data-base for up-to-date franchise news, legal advice, market trends and franchise oppor-tunities that are available in 28 countries worldwide. Potential franchisees can then dial direct from their mobile phone or send an email using an online contact form.
To display the site on a mobile or hand-held device, launch your phone’s Internet browser and bookmark www.franchiseek.com/mobile.
Jamba Juice pins hope on Canada California-based smoothie shop business
Jamba Juice Co. hopes to have 125 franchised stores in Canada in 10 years.
The San Francisco company signed a deal – albeit a non-binding one – with International Franchise Inc., which is based in Nova Scotia.
Jamba didn’t give many details, but the company, which had an accumulated deficit of $345.5 million at the end of its most recent quarter, has pinned its hopes on selling fran-chises across the northern border.
Last year, Jamba sold its company-owned stores (it had 432 of them as of July 13, but has made deals to sell some since) around the United States in a process it calls “refranchis-
News, views and updates on Canada’s franchise industryPlay N Trade Franchise, Inc., the
world’s largest video game franchise, has announced that 13 new Play N Trade stores have opened for business this year and another 13 are scheduled to open by September 2011.
Canadian franchisee Justin White opened his second store in British Columbia in July with plans for a third to be up and running by 2011. White projects to have six-to-eight stores open within the next three years. “The best thing about Play N Trade is being able to run a store myself,” said White. “Customers can see that we are not just another huge corporate entity like our competitors.”
Play N Trade has set itself apart from competing retail video game stores by offering a “try-before-you-buy” policy that allows gamers to play any game in-store prior to purchase and a “player’s club” consisting of numerous consoles and flat-screen TVs that can host in-store tournaments and events.
Play N Trade foresees the success to continue with an expansive slate of proven titles set to release this year, such as Halo: Reach, Madden NFL 11, Call of Duty: Black Ops and the 3-D motion-sensing peripherals of Microsoft’s Kinect and Sony’s PlayStation Move. The company also offers a repair service for consoles and games, as well as trading of games. It will even buy games from customers.
A Play N Trade franchise requires a $30,000 franchise fee, and there is a 5 per cent royalty and a 2 per cent advertising fee, both based on gross sales. Total investment for a turnkey outlet is in the range of $200,000 to $325,000.
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Play N Trade plans to open 13 outlets this year.
ing.”It did not estimate the amount of money
it might make from expanding into Canada. International Franchise would get exclusive Canadian rights to the Jamba Juice franchise, according to Jamba chairman, president and CEO James White, if the deal closes.
International Franchise mainly works in the frozen yogurt and ice cream markets and does business in 32 nations.
Jamba Juice charges a $25,000 franchise fee, plus royalty and advertising fees. The company estimates a minimum franchise investment of $350,000 is required.
Canadian Tire rolls out first “smart stores” Canadian Tire Corp. says it’s boosting
dividend after third-quarter profits rose 21 per cent, despite a previously announced restructuring charge.
The big hardware and home goods retailer said its quarterly dividend payments would increase to 27.5 cents next year from 21 cents each quarter this year. The move comes after the company reported quarterly profits of $103.2 million, or $1.46 per share, when factoring in a restructuring charge of $14.7 million. That’s an increase from $85.4 mil-lion, or $1.11 per share, in the same three-month period a year earlier, easily beating analyst forecasts.
“Overall, our business is performing well,” said Stephen Wetmore, president and CEO of Canadian Tire, noting the company repaid $300 million in debt that matured in the third quarter of 2011.
Retail analyst Robert Cavallo says that the strong results will likely boost Canadian Tire’s share price.
“Given the earnings and dividend increase, we could see the share price react fairly strongly,” he said in a note.
Retail sales at Canadian Tire stores rose 2.5 per cent to $2.51 billion. At retail stores open more than a year, sales grew by 1.4 per cent. Sales at its Mark’s Work Warehouse clothing division grew 4.5 per cent. Inclusion of Mark’s Work Wearhouse outlets, more selection and improved customer service are part of the Canadian Tire’s new “smart store” concept that is now being rolled out.
The company said it is on track to open three new smart stores, three smaller stores and complete 59 smart store conversions by early in 2011.
Canadian Tire has a workforce of 58,000 and operates 273 gas stations and 482 retail stores across the country.
Fastsigns adding QR CodesFastsigns International Inc., a sign and
graphics franchisor that provides visual communications and marketing solutions, is now helping businesses, organizations and events connect with people by adding Quick Response codes (QR codes). Capturing a QR code is similar to taking a picture with a mobile phone; passersby sim-ply use their smartphone with a downloaded (free or purchased) QR code reader and scan the printed QR code. From there, the QR code directs them to online content such as a web-site, video or contact information.◆
– Compiled by Kevan O’Brien
B32 www.westerninvestor.com JANUARY 2011 WESTERN INVESTOR