Commercial tower added to Riverbank Landing in St. Albert

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Boudreau Communities says demand has meant adding a sixth commercial building to the riverfront mixed-use project.

A recent ground-breaking ceremony was held on the large mixed-use development.

Boudreau Communities has added a commercial tower as it began its Riverbank Landing project in St. Albert, an affluent suburban community near Edmonton, Alberta.

Dave Haut, CEO of Boudreau Communities, said the site is ready to start servicing underground this summer. Construction on the first building, a 15-storey tower and commercial space along the river, will begin later this year.

The entire project will include 360 residential units, with condo prices starting at less than $300,000 and ranging to more than $900,000.

Situated on the banks of the Sturgeon River the project is to include two residential high rises, nine-storey seniors building, micro-loft suites, new restaurants, and boutique retail / office buildings.

Ten acres are set aside for a riverfront park and nature preserve.

Haut said a ground-breaking ceremony received a good turnout, with attendance from council members and “a number of potential purchasers” for both commercial space and condos.

“I think a lot of people are looking forward to this project getting started.”

While original plans included five buildings, Haut said plans have expanded to include a small sixth building which will provide additional commercial space.

“There’s a big hill there and we needed to deal with it somehow,” Haut said frankly,  adding that the expansion is also a result of market demands.

Haut said about 65 per cent of the condo units have already been reserved with a refundable deposit.

Boudreau Communities can’t finalize the site’s drawings until they receive a permit from the city.  “In the fall, when everything’s planned down to the last ditch, then we reach out to those people [who have reserved space],” Haut said.

As far as whether the previously estimated construction timeline of five to seven years remains accurate, Haut said it would be closer to five because the “market acceptance has been really strong.”

I think we’re going to be able to accelerate that,” Haut said, adding that in terms of commercial space, Boudreau is seeing interest from small local restaurateurs and service providers, as well as from medical providers such as physiotherapists and doctors.

Tips for renewing a commercial lease

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Keep on top of the renewal dates on your commercial lease and keep your landlord – and your real estate agent – aware of your intention to go or stay

Renewals in commercial leasing can be almost as important as securing a lease in the first place. There is quite a bit of finesse to this process.

First piece of advice: don’t leave it up to your landlord or property manager to remind you about an upcoming renewal. Print off your critical dates for rent escalations, expiries, notice periods, etc.

Keep those dates handy and update whatever calendar system you utilize to remind yourself well in advance of them coming due.

Outlook is especially helpfully for this, as it allows you to pin a date/time and set a reminder notification as far out as necessary.

Another good way to alert yourself is by redundantly adding those dates into your phone calendar.

As the tenant, your best first step in a renewal negotiation will start with you initiating it.

Whether a market is up or down, it’s important to seek comparable vacancies before signing on the renewal dotted line.

Commercial real estate brokers work not only for landlords, but we also represent tenants in renewals.

We are your best third-party resource to suss out the “best” deal being offered.

This isn’t just about the rate, it’s also about the potential costs of moving such as fixturing a new location. We can help you do that math to see if it’s worth it.

Time is ticking

If you’re renewing your lease as part of an option to renew your lease, don’t wait too long.

Options such as this will typically have a time period during which you must notify your landlord of your intent to exercise.

Tenants should realize triggering their option places an obligation on them to negotiate terms with their landlord. If they want to stay, they need to be upfront and notify accordingly.

However, we often get tenants who know their option notice period is coming up and they half-heartedly identify a desire to stay. If they find something better, they will state they hadn’t really triggered the option so they aren’t bound to it and can move on.

Unfortunately, a wishy-washy notification can also come back to bite tenants. If the tenant doesn’t notify correctly but then decides they do want to stay after their notice date has expired, their landlord may have already found another more desirous tenant.

There can be a bitter battle if the tenant truly wants to remain but hasn’t properly set forward their intentions.

There could also be instances where it benefits the landlord if you leave.

My bonus advice is this: tenants, and sometimes landlords, can hit snooze on a renewal and forget all about it.

Don’t be that guy or gal.

Make sure you get your renewal in writing, otherwise you are effectively entering into a month-to-month tenancy.

– Kelly Macsymic is a business manager with Stuart Commercial Inc. and a sales associate with ICR Commercial Real Estate, Saskatoon.

RE/MAX Commercial Report 2021

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EXECUTIVE SUMMARY
The RE/MAX Commercial Real Estate Report, highlighting trends and developments in seven major centres in Western Canada, found that institutional investors and private equity played a substantial role in almost every market in 2020, fuelling demand for multi-unit residential, industrial product, and office buildings while end users and smaller investors were strong in the industrial and, to a lesser extent, retail sectors.

Industrial was the top performer from Vancouver to Winnipeg, driven by increased demand for warehouse and fulfillment space from multi-national companies such as Amazon and FedEx, while demand for multiunit residential remained consistent, with higher CAP rates and lower values attracting investors in markets like Edmonton and Calgary. Farmland rounded out the top three sectors, with robust demand in Saskatchewan sparking strong sales and upward pressure on values.

Closure of bricks and mortar during lockdown and the acceleration of e-commerce placed retail tenants behind the proverbial eight ball in 2020. Smaller retailers used the opportunity to invest in their future by purchasing smaller storefront locations, especially in high-traffic areas – with equity gains buffering any downturn in sales. Others looked to upgrade their online presence and augment with a reduced physical footprint, and if need be, industrial space for warehousing and distribution.

While restaurants were hard hit by the pandemic, drive through locations emerged as 2020’s perfect business model — no touch, no contact, just tap and go. Demand for this product has surged in Saskatoon, Kelowna, and Calgary, and is expected to continue to experience strong
demand in the year ahead.

Limited inventory, shortage of available zoned land, and strong demand overall have made industrial real estate the cash cow of 2020. Vacancies remain low for industrial product, with Vancouver posting the tightest rate at under 1.5 per cent, and rental rates climbing 10 per cent year-over-year. Large multinational companies have been behind the push as they gear up efforts to support a rapidly expanding e-commerce industry. Smaller investors have also been active, as the appetite for income properties in industrial areas that serve strong supply chains and essential services increases in strength. Diversification of smaller portfolios is underway as investors choose to supplement their residential multi-unit residential holdings with industrial product, and to a lesser extent, office/retail.

EDMONTON
After posting $1 billion in regional sales volume in the first quarter of 2020, the Greater Edmonton Area was off to one of the strongest starts in recent years for commercial real estate when the pandemic hit. Second quarter sales plummeted, and despite encouraging upward momentum in the third and fourth quarters, the market finished the year with $2.2 billion in sales, down approximately 33 percent from 2019 levels ($3.3 billion).

Private equity was most active in the commercial market, driving approximately 53 percent of top ten sales across five asset classes in 2020, followed by end users at 37 percent. While most investors were local/regional, approximately 40 percent of sales were from out-of-province, led by British Columbia and Ontario. The highest priced sales occurring in the multi-family and retail sectors involved institutional investors based in Ontario, while the most expensive office sale involved private investors from British Columbia. The aforementioned sales were valued at $305 million, $205 million and $100 million, respectively.

Multi-family residential was quite strong out of the gate in 2020. Overall sales volumes rose year-over-year, with larger deals completed in the first quarter of 2020. Highrise sales were nearly five times higher in 2020 than the prior year, but again, the bulk were completed in the first quarter and pre-pandemic. This, while both walk-up and townhouse segments saw a decline in sales volume. Some of these deals have been pushed into 2021, which should bode well for sales in the year ahead.

Special purpose sales also posted strong gains in 2020 ($233 million), with over half of sales/transactions from either assisted-living centres (the bulk of which occurred in Q1 2020) or automotive dealerships. Automotive dealerships also helped to propel 2020 special purpose sales, with a pandemic-driven consolidation worth over $50 million in sales.

Although industrial real estate is traditionally a perennial favourite with commercial investors in the Greater Edmonton Area, multi-bay sales were down by nearly 80 per cent and single-tenant sales decreased by 65 per cent. Owner/users were the one bright spot in this asset class, with sales volumes holding relatively steady in 2020, compared to 2019. There has been an upswing in demand for new warehousing and distribution centres, in large part due to surging e-commerce sales. Two Amazon centres totalling 1.1 million sq. ft. recently opened in Leduc County, while another 1.2 million sq. ft. is currently under construction in Acheson. This rising trend in e-commerce is expected to spark increased levels of purpose-built rentals and build-to-suit projects.

While retail property sales were down overall in 2020, retail condominiums showed a slight uptick in sales volume ($45.4 million versus $44.7 million) with 18 more transactions in 2020, compared to the previous year. The increase highlights a growing trend of owner
acquisitions, while shopping centre and general retail sales were down 30 per cent and 25 per cent respectively. It is very important to note that retail spending in Alberta has surpassed pre-COVID levels on a monthly basis since the summer of 2020 at over $7.1B (as last reported Nov. 2020).

Office sales were down across the board in Edmonton, with both suburban and condo sales decreasing by 20 per cent and 50 per cent respectively. Sales volumes in the downtown core dropped 75 per cent. Despite the decline in both sales and volumes, there were no ‘fire
sales’ occurring in the market — even the recent sale of the CN building that created headlines for its $10 purchase price involved the purchasers assuming $64 million in debt.

With 80 percent of office tenancy currently working from home, investors are closely scrutinizing the sector. Overall vacancy rates were at approximately 18 percent at year-end, with no new significant construction coming on-stream. While most commercial real estate specialists believe that the majority of office occupancy will return to the workplace once vaccines have been distributed across the country, the office landscape may see some changes moving forward, with remote access becoming more prevalent for those work processes that can support it. Businesses will likely be working on contingencies that address the new mix throughout the year, with some potentially embracing a remote/office hybrid.

Economic stability will go a long way in improving consumer confidence and the overall picture for the commercial market in the aftermath of COVID-19. E-commerce is here to stay and will likely play a growing role in the future of retail. Trends toward pick-up and delivery, particularly in the retail sector, will accelerate. The industrial “last mile” will tackle logistical challenges in terms of getting parcels to destinations in high-density areas like the downtown core or alternatively outlying suburban areas. This segment of the market may see high-tech solutions with the introduction of drone deliveries for example.

In terms of new construction, COVID has definitely redefined building requirements. Future apartment developments will likely feature an increasing number of units with balconies and more outdoor space. Single detached home sales will also flourish as consumer demand for greater and greener space will take hold, aided and abetted by historically low interest rates.

Recovering oil prices, bitumen upgrading/processing, and innovative new ways to transport oil should have a positive impact on economic growth moving forward. According to the Provincial Outlook published by RBC Economics in December 2020, real GDP growth in Alberta will climb 4.5 per cent in 2021 and another 4.3 per cent in 2022. Although the report specifically targets concerns over the performance in the provinces commercial real estate sector, an improving economy and rising consumer confidence will play a major role in boosting the overall health of the province.

RE/MAX Commercial Investor Report 2017

EDMONTON

Numerous large property sales during the first two quarters of 2017 contributed to a 39 per cent increase in total sales value for commercial properties year-over-year in Edmonton. The total sales value for commercial properties topped $1 billion at the mid-year point for the first time in three years in the city.

Private investors are the most active buyers in Edmonton’s commercial property market, while institutional investors have focused primarily on core retail and industrial properties. The vacancy rate for retail properties is five per cent, while the vacancy rate for industrial properties currently sits at nearly eight per cent. Retail property sales in particular continue to show strong investor interest with a total sales value during the first two quarters of the year of $331,872,034, up from the $158,933,000 in sales during the same period in 2016. Many investors are also actively reviewing land positions, indicating expectations for growth across different market segments in the future.

Total sales volume for office buildings saw a significant increase of 202 per cent year-over-year during the first half of 2017 largely due to a five-building office building portfolio sale. The vacancy rate for office space remains higher, however, than other commercial property segments, sitting at approximately 17 per cent. This is largely due to 1.8 million square feet of new office inventory entering the market downtown, as well as the major provincial office relocation to a government owned campus on the southside of the city. Increased vacancy rates have led some office space property owners to sell existing assets. This in turn has led to increased opportunities for buyers looking to add to their investment portfolios.

As the price of oil continues to stabilize, albeit at a slow pace, Edmonton’s commercial property market is expected to continue to slowly recover, leading to cautious optimism amongst investors. This optimism is also fueled by the approval of two crude export pipelines (Trans Mountain and Keystone XL), which have the potential to increase employment and significantly impact Alberta’s capital region’s economy overall.

Increased levels of activity in the energy, manufacturing and construction sectors, as well as the province’s net gain of approximately 5,500 people from all sources of migration during the second quarter of 2017, and expected GDP growth of nearly two-and-a-half per cent
for both this year and next, are all positive indicators of a healthy commercial property market heading into 2018.

RE/MAX Commercial Investor Report 2016

EDMONTON

At the end of the second quarter, the number of commercial building and land sales was down eight per cent year-over-year and the value of those sales was down five per cent, marking the second consecutive year that sales value totaled less than $1 billion at mid-year.

Land sales declined by 40 per cent year-over-year, indicative of a slowing economy, but the total dollar value of building sales was up 13 per cent compared with the first half of 2015. Property values have remained fairly stable, with the exception of industrial property related to oilfield companies, which has seen a decline. Capitalization rates are trending modestly upward in most asset cases.

Private investors are the most active buyer segment in Edmonton’s commercial property market, while institutional investors have been more conservative since the downturn in the Alberta economy. Demand from investors for top tier assets in all sectors remained high in the first half of the year. These include multi-family apartment, well-positioned retail, and industrial with well-capitalized tenants.

Despite the economic downturn, vacancy rates in Edmonton were fairly healthy at mid-year. The vacancy rate for industrial property was at six per cent, multi-family was at five per cent and retail was at 3.5 per cent. For office space, the vacancy rate is higher, at approximately 12 per cent. This is expected to increase as 1.8 million square feet of new inventory come onto the market beginning in 2017.

Increased vacancy typically results in a decrease in land sales as development slows down; however, there are assets available in the market that are attracting buyers who feel it is the time to increase their asset positions as world oil prices slowly recover. Alternatively, some commercial sellers are looking to dispose of assets, seeing the increase in vacancy and potentially a decrease in rental rates as a threat to their asset value.

Until the WTI benchmark price of oil stabilizes at or above $50 per barrel, Edmonton’s commercial property market is expected to remain in a down cycle. A new provincial carbon tax comes into effect in January 2017, which is expected to further curtail capital investment and have a negative impact on the provincial economy.

On a more positive note, significant downtown development continues to boost employment and optimism. The $2 billion ICE District, featuring a new arena as well as office towers, hotels, entertainment venues and a museum, is revitalizing the city’s downtown. The Anthony Henday Ring Road, scheduled to be completed this fall, is expected to unlock further development opportunities in Edmonton’s northeast.

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Commercial/Industrial real estate update report

[Recently], world oil prices have fallen below $30.00 per barrel and
are at prices not seen since 2003. The world oil price situation continues to cast an economic pall
over the province as well as the City of Edmonton. Edmonton outperformed much of the province
during the year however, most fore-casters are indicating limited growth for 2016. There are no
apparent signs of short term recovery in oil prices. As such, The Network is forecasting another
weak year for 2016. The momentum of a strong economy of 2014 carried over for the first half of
2015 and this propped up sales to a high degree. There was a more dramatic drop off in activity in
the second half of the year. On this basis, The Network is forecasting that 2016 will be a weaker
year as compared to 2015 and is likely to be on par with 2009, which was the low point in the
2008/2010 economic downturn. Once again, recovery in the market will remain contingent upon a
recovery in world oil prices.
In 2016, The Network is launching a listing database which is available for members on a monthly
subscription basis. The listing database covers all multi-family, commercial and industrial offerings
of land and buildings within the Edmonton Metro Area. This includes listing data from all major
brokerage firms, as well as investment real estate offered through the MLS® System of the
REALTORS® Association of Edmonton, etc. The Network as of the date of the writing of this report is
tracking over 300 listings.

Source: https://images.magnetmail.net/images/clients/EREB/attach/2015yearendreview.pdf

RE/MAX Commercial Investor Report 2015

EDMONTON

In the first half of 2015, the commercial property market in Edmonton felt the impact of the drop in oil prices. The number of commercial building and land sales was down 9 per cent and the overall value of those sales was down 13 per cent year-over-year. For the first time in three years, total sales at mid-year dipped below $1 billion.

The most significant decline was in land sales; sales decreased by 30 per cent year-over-year, indicative of a slowing economy. A bright spot was multi-family residential – sales increased by 45 per cent year-over-year, driven by continued low vacancy and high rental rates in the city. Overall, sales in the third quarter are pointing toward continued slower activity through to the end of the year.

There is a good representation of Real Estate Investment Trusts (REITs) and pension funds; however, the regional/local private companies are currently driving demand in Edmonton’s commercial property market. The industrial market has slowed, due to downsizing in the oil service sector driven by decline in oil prices. There is increasing demand from foreign buyers for good quality assets. U.S. investors in particular are taking advantage of the opportunities afforded by the lower Canadian dollar.

Top tier assets in all sectors continue to be in high demand. Multi-family residential, well-positioned retail and industrial properties with well-capitalized tenants are the most in-demand property types. There is a shortage of good-quality products in these categories and they are quick to sell when they come on the market.

Vacancy rates in the city were healthy at mid-year; the vacancy rate in industrial was at 5 per cent, and retain and multi-family at 2.5 per cent. Office vacancy rates are at 8.5 per cent and expected to rise in the coming year as new supply comes on the market. 1.2 million square feet of new office inventory, plus over 3.0 million square feet of new industrial supply and sublease space are anticipated to come on the market by the end of 2016. With oil companies downsizing to reduce costs, owners may be competing to attract and retain office and industrial tenants, which could cause hesitation among investors in these segments. Conversely, opportunities may arise for assets that will need to be repositioned.

Recent developments that may slow down Edmonton’s commercial property market in the coming year include the NDP goverment’s provincial oil and gas royalty review, further capital spending cutback announcements by the oil producers, increases in provincial personal and corporate taxes and the minimum wage increase to $15 per hour. In June 2015, Alberta’s provincial government forecast in its first quarter fiscal update a disconcerting $5.9 to $6.5 billion annual deficit for the year ending March 31, 2016.

Despite economic slowdown due to the downturn in the oil industry, ongoing development projects are boosting the city’s outlook. In downtown Edmonton, the 25-acre, $2 billion Ice District development features a new arena, public plaza, office and condo towers, entertainment venues, hotels and retail. A new provincial museum, new LRT station and expansions to the campuses of MacEwan University and NorQuest College are in progress as well. The completion of the Anthony Henday ring road, scheduled for 2016, is expected to unlock suburban development opportunities in northeast Edmonton.

Until oil rebounds, Edmonton is expected to remain in a down cycle. However, significant ongoing development in the city is prompting optimism, and with an experienced commercial group of owners, the market is expected to adjust and move forward.
 

Commercial/Industrial real estate market takes a dip

Source: EREB

The REALTORS® Association of Edmonton Commercial Division released the semi-annual update on commercial real estate activity within the City of Edmonton. The report includes a synopsis of commercial and industrial activity for the period ending June 30, 2015 as recorded in Land Titles records when the title to the property is transferred to the buyer.

The total number of sales (284) of commercial and industrial land and buildings in Edmonton for the first half of 2015 is down 9.27% when compared to the same period last year. For the first time in three years, the value of those sales has dipped below one billion dollars at mid-year. The 2015 total value was $911 million, 13.43% lower than mid-year 2014.

“With the drop in oil prices throughout the end of 2014 and beginning of 2015, we anticipated that commercial growth within the City of Edmonton would cool down.” said Michael Thompson, President and CEO of the REALTORS® Association of Edmonton. “While sales dropped in most areas, we continue to see growth in multi-family buildings and commercial land, most of which can be attributed to the strength within the suburban markets.”

While multi-family building transactions remained stable at 33, overall sales volumes jumped 45% to $271 million, compared to $187 million and $188 million for mid-year 2014 and 2013 respectively. This surge in commercial multi-family sales comes while housing starts in the market remained very strong during the first half of 2015 and single family residential values held steady.

At $131 million, the value of urban development land sales dropped 47.3% compared to the same time last year. The total value of all land sub-sectors (industrial, commercial, multi-family, urban development and institutional) was $310 million, down more than $134 million compared to mid-year 2014. The only subsectors to see an increase in values compared to mid-year 2014 were commercial condos, commercial land, and multi-family buildings, which combined recorded sales of $361 million, an increase of 43.5%.


 

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RE/MAX Commercial Investor Report 2014

Edmonton

A sustained period of exceptionally low vacancy rates across the Edmonton commercial market has created a hospitable environment for real estate investment.

There is a high level of confidence in the commercial marketplace, given the availability of capital available to buyers in this market.

A higher-than-average growth rate of the Albertan economy has contributed to the current market, where real GDP is expected to grow 3.6 per cent in 2014, significantly exceeding the national average of 2.7 per cent. The Bank of Canada’s decision to keep interest rates low has also been a factor.

Edmonton’s downtown activity is the major contributing factor for 2014, and the arena development has been a catalyst for brand new residential and office inventory.

Between January and June of 2014, Greater Edmonton’s industrial vacancy continued to decrease, while competition for available space increased. As a result of the limited new inventory, Edmonton’s vacancy rate dropped below 3.0 per cent, finishing the second quarter at 2.84 per cent.

In May 2014, total commercial building permits in the city reached $83 million: An impressive total after nearly three years of solid growth in the economy and burgeoning competition in other districts. Nearby, in “Alberta’s Industrial Heartland,” over $27 billion in primary industrial and energy projects are underway, excluding projects that are still finalizing costs.

There is also an influx of people with a net migration upwards of 12,000 into Edmonton from other provinces. This has increased the demand for housing, rentals, and other services, causing the demand to spill over into the commercial marketplace.

There is currently a shortage of industrial buildings under 10,000 square feet with smaller acres (under 5) for both sale and lease. Demand for multi-family land within the city remains high, as does retail investment product in the $1 million to $3 million range.

There is a high level of confidence in the commercial marketplace, given the availability of capital available to buyers in this market.

Edmonton’s rising income per capita, coupled with its significant gains in employment and relatively low tax levels, has made it a desirable destination for many inter-provincial and international migrants.

In 2013, the Conference Board of Canada estimated that net migration to Edmonton was approximately 35,354. 12,222 net migrants are still expected to move to the city in 2014, further expanding the tenant pool and bolstering demand for rental housing.

The construction of apartment buildings had picked up significantly by the start of 2014 with 2,537 more apartment units still under construction. The new supply has generated an upward pressure on vacancy rates as the city observed a 58 basis point increase throughout HI 2014. Edmonton’s vacancy rate is estimated to be 1.8 per cent. As new units are introduced and peak migration returns to its regular levels, vacancy rates are expected to rise moderately in 2015.

New development in Edmonton will continue to lag until early 2015, as tenants compete for the small pool of useable, available buildings. While several major projects that will alter Edmonton’s industrial inventory have been announced, Edmonton will remain a very steady market until that product is introduced.

A growth trend will dominate the downtown office market over the next 15 years, as up to 39 different projects are set to inject over $6 billion into the core. The possibility of up to 60,000 new residents in Blatchford and East Downtown indicates an exceptionally positive outlook for the long-term.

The Edmonton market is seeing a significant demand for purchase of commercial condominium units in the 1,500- to 3,000-square-feet range by owner users and professionals. There is a growing appetite for ownership rather than leasing, given the low interest lending environment.

While tighter lending criteria often has an impact on the commercial market, the opposite is true for Edmonton. There is a high level of confidence in the commercial marketplace, given the availability of capital available to buyers in this market. In some cases, lenders will fund upwards of 80 per cent on solid owner-user or fully-leased product. This market is seeing 80 per cent financing in some construction projects as well.

Following the Bank of Canada’s December 2013 announcement to keep the overnight rate at 1.0 per cent, the cost of debt will remain low for the first six months of the year, likely continuing well into 2015. Only incremental rate hikes are expected thereafter, as the central bank will likely be unwilling to introduce unhealthy shocks to the economy. Edmonton will see cap rates reduced in various sectors, but will also continue to see double-digit office vacancy in both the downtown and the suburban markets for quite some time.

There is heavy investor confidence in the marketplace, but there are also calls for cautious optimism, particularly as it relates to the activity in downtown Edmonton. There is a sudden desire for everybody to be downtown, which is good news for the re-vitalization of the core. Even still, it is advised that a thorough analysis of risk be conducted as one embarks into this red hot cauldron of activity.

Source: Edmonton Real Estate Board
RE/MAX Commercial Investor Report 2014

 


 

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Edmonton Commercial Real Estate: 55 Avenue & 58 Street: E1021356

MLS#: E1021356 (Commercial) E3367306 (Residential) This 5.92 acre site is located on the corner of 55th Avenue and 58th Street in Camrose. This is an unserviced site and currently zoned R2A for adult only bungalow duplex lots. Proposal filed for 38 duplex units on 19 lots on a phased basis. Close to Camrose Golf and Country Club and Camrose Creek. Site is tied to future walking trails and short distance to shopping and city amenities. For additional information or to see the property call Don at 780-718-8400 or email dcholak@telus.net Commercial:  https://www.doncholak.com/featured-stalbert-listings/l/details-37717138 Residential: https://www.doncholak.com/featured-stalbert-listings/l/details-37715718

MLS#: E1021356 (Commercial) E3367306 (Residential) This 5.92 acre site is located on the corner of 55th Avenue and 58th Street in Camrose. This is an unserviced site and currently zoned R2A for adult only bungalow duplex lots. Proposal filed for 38 duplex units on 19 lots on a phased basis. Close to Camrose Golf and Country Club and Camrose Creek. Site is tied to future walking trails and short distance to shopping and city amenities.
For additional information or to see the property call Don at 780-718-8400 or email dcholak@telus.net
Commercial:
https://www.doncholak.com/featured-stalbert-listings/l/details-37717138
Residential:
https://www.doncholak.com/featured-stalbert-listings/l/details-37715718

Edmonton Commercial Real Estate: 55 Avenue & 58 Street: E1021356

MLS#: E1021356 (Commercial) E3367306 (Residential) This 5.92 acre site is located on the corner of 55th Avenue and 58th Street in Camrose. This is an unserviced site and currently zoned R2A for adult only bungalow duplex lots. Proposal filed for 38 duplex units on 19 lots on a phased basis. Close to Camrose Golf and Country Club and Camrose Creek. Site is tied to future walking trails and short distance to shopping and city amenities. For additional information or to see the property call Don at 780-718-8400 or email dcholak@telus.net Commercial:  https://www.doncholak.com/featured-stalbert-listings/l/details-37717138 Residential: https://www.doncholak.com/featured-stalbert-listings/l/details-37715718

MLS#: E1021356 (Commercial) E3367306 (Residential) This 5.92 acre site is located on the corner of 55th Avenue and 58th Street in Camrose. This is an unserviced site and currently zoned R2A for adult only bungalow duplex lots. Proposal filed for 38 duplex units on 19 lots on a phased basis. Close to Camrose Golf and Country Club and Camrose Creek. Site is tied to future walking trails and short distance to shopping and city amenities.
For additional information or to see the property call Don at 780-718-8400 or email dcholak@telus.net
Commercial:
https://www.doncholak.com/featured-stalbert-listings/l/details-37717138
Residential:
https://www.doncholak.com/featured-stalbert-listings/l/details-37715718

Edmonton Commercial Real Estate : 2710 195 Avenue NE : E1021146

2710 195 Avenue NW

MLS#: E1021146 (Commercial) E3364029 (Residential)
Close to future North East Anthony Henday is where you will find this prime 86.98 Acre development overlooking a park next to the Fort Saskatchewan River Valley. This is an existing agricultural parcel owned by Visser Farms. Current Horsehills ASP is future residential. Municipal storm sewer is at the property line. At only $54,000 per acre this is an excellent holding property that has never been offered before to the public.
For additional information or to see the property call Don at 780-718-8400 or email dcholak@telus.net
Commercial:
https://www.doncholak.com/featured-stalbert-listings/l/details-37052503
Residential:
https://www.doncholak.com/featured-stalbert-listings/l/details-37052128