More than Just Lines on a Map: Best Practices for U.S Bike Routes
Mid Island Portfolio June 2012
1. Mid-Island Portfolio
A COLLECTION OF SALE AND LEASE LISTINGS IN THE Colliers International
MID-VANCOUVER ISLAND REGION 335 Wesley Street, Suite 207
Nanaimo, BC V9R 2T5
MAIN: +1 250 740 1060
FAX: +1 250 740 1067
www.colliers.com/victoria
2. Nanaimo, BC
MID-ISLAND PORTFOLIO | JUNE 2012
Metral Station
>> 32,381 SF retail strip centre in North Nanaimo for sale
JU
LI Excellent visual exposure and frontage on the Island Highway
ST ST >>
ED >> Great access/egress with two fully signalized intersections
>> Anchored by Mark’s Work Warehouse and tenanted by First Choice
Haircutters, Little Caesars, Subway, Herbal Magic, The Cash Store,
Pro Stitch, and Bark & Fitz
Terminal Mall
SO >> 29,719 SF retail centre located in central Nanaimo
LD >> Shadow anchored by Save-On Foods and Terminal Park Mall
>> Tenants include Bank of Montreal, BC Liquor Store, and Cobs Bread
>> 1.85 acres
>> 75 Parking stalls
CP Lands, 7 Port Way and 1161 Milton Street (Wellcox Railyard Lands)
>> Comprehensive development site in the heart of downtown
Nanaimo close to Port Place Mall and adjacent to the new cruise
ship terminal
>> 53.65 acres of which ± 20 acres is available for development
>> A to-be subdivided 3 acres with frontage on Front Street also
available
>> $7,900,000
Dunsmuir Place Portfolio, Nanaimo
SO >> Six-storey commercial office/retail building, adjacent ancillary two-
LD floor commercial building undergoing renovations, and surrounding
parking lots for sale
>> Strategically located downtown featuring easy access to all major
transportation routes, ample parking, and good tenant mix
>> Total rentable area of 65,578 SF on 2.15 acres of land
>> $7,200,000 (Actual cap rate of 6.72%)
3. Nanaimo, BC
MID-ISLAND PORTFOLIO | JUNE 2012
1961 Zorkin Road
>> Oceanfront site with water lot
>> Mixed use development site directly adjacent to the Departure Bay
Ferry Terminal (BC Ferries)
>> ±4.96 acres of fee simple and ±3.3 acres of leased foreshore
>> Unparalleled views of Departure Bay and Newcastle Island and
close to Nanaimo’s commercial amenities and transportation routes
>> $6,000,000
Lots 4 & 5 - 975 Jackson Road
>> Located in Duke Point Industrial Park
>> Two legal lots of 5.5 acres each
>> Can be purchased separately or together
>> $2,920,000
1336, 1340, 1344, 1348 South Island Highway
>> Nanaimo Mixed-use development site
>> 8.91 acres total with ±4.3 acres developable after watercourse
setbacks
>> One block from South Parkway Plaza, Southgate Shopping Centre,
and Country Grocer
>> $2,490,000
960 Jackson Road
RE >> ±14 acres zoned heavy industrial
D
U
CE >> Located in the Duke Point Industrial Park in close proximity to the BC
D Ferry terminal and all major transportation arteries
>> Can be mined for approx. 100,000 tonnes of crushed gravel
>> Tenant on 1 acre paying $1,800 per month
>> $1,800,000
4. Nanaimo, BC
MID-ISLAND PORTFOLIO | JUNE 2012
130 Terminal Avenue North
CO UN
>> For Sale/Lease
N DE >> High exposure investment/lease opportunity on the Island Highway
TR R
A
CT >> Triple A tenant: White Spot
>> 34,854 SF site and 6,967 SF of building in two pads
>> $2,500,000 $1,995,000
>> $45.00 $35.00 per SF pad ground floor (1,258 SF)
1451 Bowen Road
>> Single-tenanted investment property in central Nanaimo
>> 15,126 SF lease with Nanaimo Athletic Club expiring Jan. 31, 2015
>> Extensive renovation completed
>> 7.9% cap rate on actual 2011 net income
>> $1,899,000
711 Poplar Street
>> ±6,000 SF two-storey office for sale or lease in central Nanaimo
JU
LI Located adjacent to Terminal Park Shopping Centre and close to
ST ST >>
ED the Departure Bay BC Ferry Terminal
>> Built in 1976 and features fenced parking with 13 stalls
>> $13.00 per SF net lease rate or;
>> $1,500,000 sale price
5085 Uplands Drive
>> Proposed 51-unit multi-family development site on 0.91 acres with
a development permit in place
>> Located in the heart of north Nanaimo surrounded by newly
developed and mature residential neighbourhoods
>> Close to all major shopping centres, including Woodgrove Centre,
Metral Station, Longwood Station, and Northridge Village
>> $1,099,000
5. Nanaimo, BC
MID-ISLAND PORTFOLIO | JUNE 2012
1041 Maughan Road
>> 1.55 acres of heavy industrial land located in Duke Point Industrial
Park
>> 3,024 SF cover-all structure comprised of aluminum and canvas
covering
>> Three phase 600 amp/600 volt underground power
>> $575,000
North Parkway Centre
>> Two units available
>> ±3,000 SF ground floor commercial strata unit for sale or lease
>> High visibility location along Mostar Road just 1 block west from the
Island Highway and less than 1 km east of the Nanaimo Parkway
>> Lease rates from $22.00 per SF net
>> Sale Price from $299.00 per SF
Metral Station
>> Join Marks Work Warehouse, First Choice Haircutters, Starbucks
and more
>> Excellent exposure to the Island Highway
>> 4,741 SF CRU available (can be demised)
>> 1,014 SF end cap unit
>> From $26.00 per SF net
>> Estimated $14.21 per SF additional rent
6470 Metral Drive
CO UN
>> Brand new development
N DE >> Freestanding pads available of approximately 3,974 and 2,600 SF;
TR R
A demisable to 911 SF
CT
>> Located in North Nanaimo’s Woodgrove Regional Town Centre
>> Outstanding visual exposure to the Island Highway
>> $22.00 per SF net
6. Nanaimo, BC
MID-ISLAND PORTFOLIO | JUNE 2012
495 Dunsmuir Street
>> 5 office spaces available from 550-2,447 SF
>> 6 storey professional building
>> Best value in Nanaimo
>> From $12.00 per SF net
>> Generous tenant inducements available
Units 3 & 7 - 4151 Mostar Road
JU >> Unit 3 - 5,100 SF service commercial/distribution warehouse
LI
ST ST >> Unit 7 - 2,586 SF service commercial/distribution warehouse
ED
>> Excellent visual exposure to the Mostar Road connector
>> Great access/egress to the Nanaimo Parkway and the Island
Highway
>> $10.50 per SF net
>> Estimated additional rent $3.50 per SF
Vancouver Island Conference Centre
>> High traffic commercial/retail core of downtown Nanaimo
>> New retail/office in Conference Centre block
>> Join Serious Coffee, IRIS, and Coast Capital Insurance
>> Base rent from $15.00 per SF with T.I. package
>> Units available from 1,284-3,400 SF
Unit 410 - 256 Wallace Road
>> 2,779 SF 4th floor office with views of downtown Nanaimo
JU
LI >> Located on prominent intersection of Wallace Road and Fitzwilliam
ST ST
ED Street
>> Comprised of reception area, boardroom, 8 offices, production
room, kitchenette, and ample storage space
>> $11.50 per SF net
>> Estimated additional rent $8.05 per SF
7. Nanaimo, BC
MID-ISLAND PORTFOLIO | JUNE 2012
Terminal Mall
>> High visibility retail mall on Island Highway in Central Nanaimo
>> 1,252 SF new retail space available
>> Anchored by Bank of Montreal and Government Liquor Store
>> Shadow anchored by Save On Foods
>> From $16.00 SF net rate and $10.36 per SF additional rent
6461 Metral Drive
>> New north Nanaimo retail centre
>> Ideal site location in close proximity to Woodgrove Regional
Shopping Centre
>> From 1,100-19,370 SF available
>> 124 parking stalls
Longwood Station
>> “Village” style neighbourhood shopping centre
>> Located on busy Island Highway retail corridor in North Nanaimo
>> 1,609 SF unit available
>> Asking $30.00 per SF net with T.I. package
>> Tenants include: Boston Pizza, TD Canada Trust, Thrifty Foods
University Village (5th St and Bruce)
>> Newly renovated retail centre
>> Located on busy intersection near University
>> Rate from $18.00 per SF net
>> Units available from 1,100-2,000 SF
>> Anchored by Quality Foods and Shoppers Drug Mart
8. Nanaimo, BC
MID-ISLAND PORTFOLIO | JUNE 2012
321 Watfield Road
>> ±5,000 SF repair and maintenance workshop with large 0.75 acre
JU
LI paved yard
ST ST
ED >> Located in close proximity to Vancouver Island University and
downtown Nanaimo
>> Property offers perimeter fencing, 3 phase power, four grade level
roll up doors, one washroom, office and lunchroom
>> $2,500 per month gross plus utilities
Southgate Mall
>> Retail Centre located in South Nanaimo’s rapidly growing
commercial node
>> Great tenant mix anchored by Rexall and Tim Hortons
>> Up to 3,000 SF “build-to-suit” pad next to Tim Hortons
>> From $25.00 per SF net
3148B Barons Road
>> 1,153 SF office/retail unit in mixed-use building
>> Well-located in central Nanaimo
>> Easy and quick access to Island Highway
>> $1,250 per month gross rent + HST
9 Commercial Street
>> Freestanding building on high exposure intersection
>> Downtown Nanaimo across from new Convention Centre
>> Large private parking lot
>> Up to 19,600 SF on two floors
>> $12.00 net and $5.00 additional cost
>> Owner will consider new “build-to- suit”
9. Nanaimo, BC
MID-ISLAND PORTFOLIO | JUNE 2012
Summerhill Crossing
>> Brand new retail development
>> Prominently located along Bowen Road, one of Nanaimo’s main
traffic corridors
>> Various units sizes and pads available
>> Excellent access and egress
>> Ample parking
>> Asking rate from $25.00 per SF net
335 Wesley Street
>> Attractive office/retail space for lease in Old City Quarter adjacent to
downtown core of Nanaimo
>> Ground floor courtyard units asking $14.50 per SF net
>> 2nd floor office space asking $12.50 per SF net
>> Unit sizes range from approx. 428-3,274 SF with potential for larger
space up to 2,089 SF
>> Close to all amenities and transportation routes
Suite #500 - 345 Wallace Street
>> Nicest office space in Nanaimo!
>> 4,517 SF of 5th floor office space
>> Spectacular views and 1st class tenant improvements
>> Award winning state-of-the-art building
>> Asking rate is $20.00 per SF net
Bowen Centre
>> Centrally located office/retail centre
>> Excellent exposure to Nanaimo’s Bowen Road traffic corridor
>> Units varying in size from 904-2,080 SF
>> Ample parking
>> Base rent from $14.00 per SF net
>> Additional rent estimated at $4.77 per SF
10. Nanaimo, BC
MID-ISLAND PORTFOLIO | JUNE 2012
South Parkway Plaza
>> 1,500 SF storefront CRU space available
>> Located in south Nanaimo’s rapidly growing retail enclave
>> Shadow anchored by the recently completed Country Grocer
>> $18.00 per SF net
>> Estimated additional rent is $10.64 per SF
Unit 14B - 4386 Boban Drive
>> ±6,000 SF distribution/warehouse space
>> Two grade level and five dock level roll-up doors
>> 22-24’ ceiling heights
>> Base rent is $9.00 per SF per annum
>> Additional rent estimated at $3.50 per SF per annum
Terminal Park Shopping Centre
>> High visibility shopping centre in central Nanaimo anchored by
Save-On Foods
>> Neighbouring tenants include Starbucks, TD Canada Trust, Burger
King, Dollarama, and others
>> 4,654 SF inline CRU available
>> 973 SF corner unit available
>> Base rent from $22.00 per SF net
>> Additional rent estimated at $7.96 per SF
Unit 15 - 4131 Mostar Road
LE >> ±1,000 SF distribution/warehouse space
A >> Visible and accessible from Mostar Road
SE
D >> Base rent is $9.00 per SF per annum
>> Additional rent estimated at $3.50 per SF per annum
11. Nanaimo, BC
MID-ISLAND PORTFOLIO | JUNE 2012
1835 Bowen Road
>> Build-to-suit opportunity on one of Nanaimo’s main traffic
thoroughfares
>> Potential for 5,000-16,000 SF of office/retail space available
>> Lease rate negotiable
Rock City Centre
LE >> Excellent exposure to Island Highway
A >> 1,707 SF end cap unit available
SE
D >> Notable tenants include: Earls, Tim Hortons, HSBC, and General
Paint
>> $17.00 per SF net
>> Additional rent estimated at $7.65 per SF
12. Cowichan Valley & Duncan, BC
MID-ISLAND PORTFOLIO | JUNE 2012
7233 Trans Canada Highway, Duncan >> Court-ordered sale
RE
D >> Property is comprised of 16,020 SF warehouse, 17,468 SF office,
U
CE and 4,896 SF office/utility structure on 15.05 acres
D
>> C-3 Service Commercial zoning
>> $2,950,000
6472 Paddle Road, Duncan
>> 3.07 acre mixed-use development site
JU
LI >> Property is adjacent to Cowichan Commons - comprised of retailers
ST ST
ED such as Home Depot, Future Shop, Walmart, Rona, and Canadian
Tire
>> OCP supports mixed-commercial and residential uses
>> $1,450,000
Point Ideal, Lake Cowichan
>> 16.91 acre single family residential development site
>> Approved PLA for 46 single family lots
>> Located only 1 km from downtown Lake Cowichan and its shops
and services
>> Surrounded by new and attractive residential development
>> $1,100,000
Cowichan Lake Lodge, Lake Cowichan
SO >> Located in a popular summer tourist destination and in close
LD proximity to Lake Cowichan, the second largest fresh water lake on
Vancouver Island
>> 30 unit motel
>> Excellent visibility on main thoroughfare
>> $900,000
13. Cowichan Valley & Duncan, BC
MID-ISLAND PORTFOLIO | JUNE 2012
Tansor Industrial Park, Duncan
>> Industrial lots available from 0.5-3.0 acres
>> Located 4 km northwest of downtown Duncan and just a few
kilometres from the Trans Canada Highway
>> Prices range from $277,000-$596,000 $254,000-$537,000
11 High Street, Ladysmith
CO UN >> Retail warehouse building totaling 9,000 SF over two floors
N DE >> In heart of Ladysmith’s downtown core
TR R
A
CT >> Excellent storefront exposure and access to
Island Highway half a block away
>> $549,000 $479,000
Lot F, Joan Avenue, Crofton
SO >> 10,000 SF mixed-use
LD >> Approved DP for 4 storey building comprising 15 residential units
and 3 commercial units
>> Fantastic ocean/island views
>> $399,000 $320,000
Coronation Mall, Duncan >> 48,000 SF retail development on Trans Canada Highway
>> Units available up to 2,200 SF and freestanding pad up to 2,500
SF
>> Direct exposure and great access from highway
>> Anchored by Shoppers Drug Mart, Blockbuster, BC Liquor Store
>> Asking net lease rates from $25.00 SF
14. Cowichan Valley & Duncan, BC
MID-ISLAND PORTFOLIO | JUNE 2012
Coronation Mall, Ladysmith
>> Ladysmith’s major, high visibility retail mall located on the Island
Highway
>> 1,150-2,750 SF available in 4 units
>> Anchored by Safeway, BC Government Liquor Store, and Rexall
Drugs
>> Lease rates from $16.00 per SF net
15. Parksville & Qualicum, BC
MID-ISLAND PORTFOLIO | JUNE 2012
371 Alberni Highway, Parksville
CO UN >> Fully Serviced Multifamily or seniors Development Site
N DE >> Approved for 266 units
TR R
A >> Total of 7.57 acres with 3 street frontages
CT
>> Over $1.7 million in off site work completed
>> Full package available
>> $5,350,000 $4,950,000
272 Island Highway West, Parksville
RE >> Not currently operating; requires some capital expenditure
D >> 23-room motel located on the Island Highway in downtown
U
CE
D Parksville core
>> Holding income from existing restaurant lease
>> Asking price less than land value!
>> $999,000 $799,000
Illusion Lake Road, Qualicum Beach
>> Court-ordered sale
>> 20 acre property in north Qualicum Beach
>> Zoned RM1 - Resource Management 1
>> Significant gravel reserve on site
>> $425,000
1080 Industrial Way, Parksville
JU
>> Industrial bays, office, and storage space for lease
LI Units 1 & 2 - Two office/utility structures totaling ±1,800 SF and
ST ST >>
ED two storage units located on 0.25 acre fenced compound
>> Unit 7 - ±2,048 SF open light industrial bays
>> Units 1 & 2 - $1,400 per month gross plus utilities
>> Unit 7 - $1,000 per month gross plus utilities
16. Parksville & Qualicum, BC
MID-ISLAND PORTFOLIO | JUNE 2012
1120 Industrial Way, Parksville
>> New 19,000 SF industrial building in Parksville Industrial Park
>> Individual units available at 1,500 SF; 3 of which can be combined
for up to 4,500 contiguous SF
>> Excellent access to Island Highway
>> Heat, lights, grade level overhead door, power sockets, washrooms
provided
>> Asking net lease rate of $6.75 per SF
The Beach Club, Parksville
>> New retail at prestigious Beach Club Resort in downtown Parksville
>> Up to 2,000 SF of retail available in free standing building
>> 4,500 SF pub/restaurant building also available
>> Features direct exposure and access to busy Island Highway
>> Generous inducements available
>> Asking net lease rates of $16.00 per SF
1065 Herring Gull Way, Parksville
>> Three light industrial warehouse units, each totalling 2,600 SF
>> Located in Parksville’s industrial/service commercial node
>> Easy access and egress from Vancouver Island’s major
transportation routes
>> Some units feature grade level roll-up doors and glass storefront
entrances
>> Base rent of $6.75 per SF net
>> Additional rent estimated at $2.36 per SF
17. Courtenay & Comox, BC
MID-ISLAND PORTFOLIO | JUNE 2012
2498 & 2650 Arden Road, Courtenay
>> ± 28 acre residential development site
>> Zoned and approved for up to 128 patio homes
>> Useable area of approx. 19 acres
>> Mixed zoning classification of CD-20 and PA-2
>> $4,250,000
2455 Mansfield Drive, Courtenay
SO >> 10,982 SF government-tenanted office building constructed circa
LD 1994
>> Ministry of Family an Children’s Services recently completed five-
year lease renewal
>> 6.3% cap rate on actual 2011 net income
>> 39 parking stalls
>> $2,250,000
3040 & 3070 Kilpatrick Avenue, Courtenay
>> ±3.5 acre commercial development site
>> Located next to large retail centre; tenants include Walmart,
Staples, The Source, Mark’s Work Warehouse, Future Shop and
more
>> C-2 Commercial zoning allows for a variety of commercial uses
and mixed-use developments
>> $1,960,000
1245 & 1263 Guthrie Road, Comox
SO >> Proposed 18- and 14-unit townhouse development sites located
LD along Guthrie Road
>> 2.19 acres of land composed of two separate properties
>> Engineering and architect plans available upon request
>> Approved development permit in place
>> $1,100,000
18. Courtenay & Comox, BC
MID-ISLAND PORTFOLIO | JUNE 2012
1901 Comox Road, Comox
>> ±7.88 acre waterfront site + 0.5 acre Crown grant portion
>> Possibly the best mixed-use site in the City
>> Comprehensive Information Memorandum will be made available
>> Site has been remediated to residential standards
>> $4,250,000
1590 Cliffe Avenue, Courtenay
>> Ground floor commercial space in “The Westerly” (Best Western)
>> Located on the main commercial artery in downtown Courtenay
>> ±1,500 to 4,000 SF available
>> $12.50 per SF per annum
>> $7.50 per SF additional rent
Glacierview Plaza, Courtenay
>> High exposure retail shopping centre
>> 1,001 & 1,738 SF available
>> Anchored by White Spot, Wendy’s, Tim Horton’s, ICI Paints, and
Lordco Auto Parts
>> Ample parking
>> Base rent is $19.00 per SF per annum
>> Additional rent is $9.41 per SF per annum
2930 Kilpatrick Avenue, Courtenay
>> Newly constructed 2,950 SF freestanding pad for lease adjacent to
Applebee’s restaurant
>> In close proximity to large retail enclave includes Walmart, Staples,
Future Shop and more
>> Provides easy access to downtown Courtenay and the Inland Island
Highway
>> Base rent is $25.00 per SF per annum
>> Additional rent is estimated at $8.10 per SF
19. Courtenay & Comox, BC
MID-ISLAND PORTFOLIO | JUNE 2012
Courtenay Crossing Shopping Centre
>> 1,229 SF inline CRU unit available
>> Located at the corner of 17 Street and Cliffe Avenue
>> Shadow anchored by Safeway; other tenants include Starbucks,
Alberni Outpost, TELUS Mobility, and Iris Optical
>> $22.00 per SF net
>> $8.95 per SF estimated additional rent
Aspen Grove Centre - 2225 Guthrie Road
>> Aspen Grove Shopping Centre
>> 1,530-3,640 SF of retail space available
>> New retail centre adjacent to Quality Foods
>> Great storefront exposure, parking and access
>> Asking net lease rates from $20.00 per SF
Riverside Professional Centre, Courtenay
>> Retail/office space for lease
>> Space may be demised into units ranging in size from 550-4,551
SF
>> Located on the main commercial artery in downtown Courtenay
>> Asking net lease rate of $11.00 per SF
Crown Isle Shopping Centre
>> Preleasing for exceptional new retail development
>> Prominent location at major Ryan Road and Lerwick Road
intersection
>> Various unit sizes and pads/drive thru available
>> Excellent exposure and access/egress
>> Anchored by Thrifty Foods grocery store
>> Asking rates from $30.00 per SF net
20. Courtenay & Comox, BC
MID-ISLAND PORTFOLIO | JUNE 2012
310 8th Street, Courtenay
JU
>> Two retail units for lease in downtown Courtenay
LI 2,602 SF & 2,302 SF units available
ST ST >>
ED >> 32,295 SF centre anchored by Shoppers Drug Mart
>> Rates starting from $12.00 per SF net
>> Additional rent estimated at $5.75 per SF
21. North Island & Campbell River, BC
MID-ISLAND PORTFOLIO | JUNE 2012
808 South Island Highway, Campbell River
>> 1.28 acre multifamily development site
>> Directly across Island Highway from waterfront
>> Drawings for 44 units with u/g parking available
>> RM-3 zoning
>> Minutes from downtown Campbell River
>> $795,000
22. Port Alberni & West Coast, BC
MID-ISLAND PORTFOLIO | JUNE 2012
81 West Street, Tofino
>> Award-winning “Whalers on the Point Guesthouse”
>> 60-bed hostel located in downtown Tofino
>> Breathtaking views of the Pacific Ocean and Clayoquot Sound
>> Consistent net income
>> $3,500,000
120 4th Street, Tofino
SO >> Excellent mixed-use investment opportunity
LD >> Located in the heart of the downtown core
>> 8 units, 6,528 SF building
>> Fully leased - 7% cap rate
>> $1,950,000
4721 Johnston Road, Port Alberni
>> Build-to-suit lease opportunity on Port Alberni’s main traffic
thoroughfare
>> Up to 15,000 SF
>> High exposure corner site location
>> From $25.00 per SF
Pacific Rim Shopping Centre, Port Alberni
JU >> High exposure retail/office units for lease
LI
ST ST >> 4,941 SF & 2,443 SF available
ED
>> 80,500 SF centre shadow anchored by Tyler’s No Frills and
Walmart
>> From $20.00 per SF net
>> Additional rent estimated at $9.31 per SF
23. Port Alberni & West Coast, BC
MID-ISLAND PORTFOLIO | JUNE 2012
Redford Centre, Port Alberni
JU
>> High exposure freestanding pad for lease
LI
ST ST >> 4,500 SF available
ED
>> 19,932 SF centre tenanted by McDonald’s, Domino’s Pizza, Iris
Optical, CitiFinancial, and The Cash Store
>> From $18.00 per SF net
>> Additional rent estimated at $7.25 per SF