cherry point estate winery
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Offering Memorandum
Cherry Point
Cherry Point Estate Winery
Vancouver Island Canada
Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOURMARCUS & MILLICHAP AGENT FOR MORE DETAILS.
NON-ENDORSEMENT NOTICE
presented byInvestment Sales:
OFFICES NATIONWIDEwww.marcusmillichap.com
Presented by:
c o b b l e h i l l , b r i t i s h c o l u m b i a
CHERRY POINT ESTATE WINES
Dustin MillerAssociateVANCOUVER, B.C.Tel: (604) 675-5253Fax: (604) 675-5210Dustin.Miller@marcusmillichap.com License: BC 166888
cherry point estate wines
EXECUTIVE SUMMARYOffering Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Investment Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Summary of Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4Facility Photos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-6
PROPERTY DESCRIPTIONWine Varieties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Historical Background . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9Regional Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10Local Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11Aerial Photograph . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12Plot Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13Local Wine Region Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
ZONING AND LAND USE Zoning/ Agricultural Land Reserve . . . . . . . . . . . . . . . . . . . . . . . . 16
MARKET OVERVIEWVancouver Island . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18British Columbia Wine Industry . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Table of Contents
ProprietorsLeft: Xavier Bonilla
Right: Maria Bonilla
summaryE X E C U T I V E S U M M A R Y
EXECUTIVE SUMMARY
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID ACT ID U0120239
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WCherry Point Estate Wines
Offering Highlights
DemographicsCobble Hill
2011 Population 78,670
2006 Population 150,865
2011 Households 3,065
Average HH Income $81,309
Median HH Income $70,750
MAJOR EMPLOYERS SERVICE
Pacific Truss Manufacturer
Alpine-Pacific Leasing Real Estate
Rona Home Centre. Retail
Victoria Truss Ltd. Manufacturer
Bench Elementary School Education
Island Farmhouse Poultry Agriculture
Cowichan Joinery Wood / Millwork
Major Employers
CHERRY POINT ESTATE WINESCobble Hill, BC V0R 1L3
Offering SummaryOffering Price $6,200,000
Lot Size (SF) 1,491,495
Price/ SF $4.15
Lot Size (Acres) 34.24
Price/ Acre $181,075
Vineyard Producing Land 24
Price/ Producing Land Portion $258,333
Lot Demensions Irregular
Type of Ownership Fee Simple
Site DescriptionAssessor’s Parcel Numbers 006-081-282
Zoning Agriculture Land - Vinyard
Taxes $10,200
Tax Year 2015
Frontage Cherry Point Road
Services Electricity
Utilities Water- Well, Sanitary - Septic
Adjacent Development Agriculture, Golf
Additional Inclusions Single Family House 3,900 sqft
Manufactured Mobile Home 2 bedroom
Commercial Kitchen & Bistro
Event Pavillion
Warehouse Building
Wine Processing Equipment
Wine Inventory
Goodwill
Debt Service Cover Ratio 0.0x
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
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EXECUTIVE SUMMARYE
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Vancouver Island, Canada
The 34 Acre Cherry Point Estate property situated in the heart of the Cowichan Valley is a short drive from Victoria to the south, and Nanaimo to the North . Cowichan, is named by the Coast Salish First Nations word Quw’utsun’ meaning “land warmed by the Sun” - obvious to those who visit as it boasts the highest mean temperatures in Canada . The land benefits from its proximity to the natural beauty of the ocean coastline looking out over the Satellite Channel with panoramic views of Salt Spring Island .
Cherry Point was established in 1990 when the founders purchased 34 acres on a former mink ranch . Since wine growing was a new phenomenon on the island, they planted the vineyard with several grape varieties, for nobody really knew which grapes suited the Island’s soil and climate . After the grape trials, Cherry Point Vineyards became one of the first licensed wineries on Vancouver Island in 1994 .
Today Cherry Point is committed to only using grapes grown on the estate . The vineyard is well recognized in the local community, despite a small marketing budget . The lions share of business is from word-of-mouth and on-site sales .
Investment Overview
Investment Highlights■■ 34 Acres gently sloping cleared land ■■ Centrally located on South Vancouver Island . 3 Ferries, 2 Airports, 4 float
plane, and 1 helicopter service the area■■ 24 Acres of vineyard, mature 20 year old vines, 14 different varietals■■ B .C . Environmental Farm Plan certified since 2007 ■■ Second largest vineyard in operation on Vancouver Island■■ Produces ~4,000 cases of product annually ■■ Established vineyard generating over $500,000 in gross annual sales■■ Highest mean temperatures in Canada create a long and warm growing season■■ Well-marked highway signage on the Island Wine Train route■■ Close proximity to the ocean, nature park, sand beach, 2 .5km walking trail ■■ Consistent award winning wines from domestic and international competitions
EXECUTIVE SUMMARY
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID ACT ID U0120239
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WCherry Point Estate Wines
Summary of Terms
Interest OfferedFee simple interest in 840 Cherry Point Road, a 34 .24 acre or 1,491,495-square foot land parcel .
Offering includes all improvements - 24 acres of fully developed vines, 3,900 square foot house, commercial kitchen, 90 seat bistro, liqour primary license, pavillion, warehouse, wine processing facilities, and legacy wine inventory .
Property ToursProspective purchasers are encouraged to visit the subject property prior to submitting offers . However, all property tours must be arranged with the Marcus & Millichap listing agent . Please do not contact the tenants, on-site management or staff without prior approval .
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
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EXECUTIVE SUMMARYE
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Vancouver Island, Canada
Retail Sales Centre
Amuse at the Vineyard - Bistro
EXECUTIVE SUMMARY
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID ACT ID U0120239
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WCherry Point Estate Wines
Courtyard & Patio
descriptionP R O P E R T Y D E S C R I P T I O N
PROPERTY DESCRIPTION Cherry Point Estate Wines
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
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Cherry Point Wine VarietiesR
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PROPERTY DESCRIPTION
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vancouver island, canada
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
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Historical Background
In 2009 a a wine-loving economist from Colombia, Xavier Bonilla, took over as the new owner of Cherry Point Vineyards, one of the stalwarts of Cowichan Valley wine production .
Xaiver is a graduate of the University of Wisconsin with a masters degree in agriculture . He has worked as an agricultural economist for three Colombian presidents while also operating a 50-head dairy farm an hour outside Bogota .
Using her experience from their West Vancouver restaurant, Maria Bonilla has taken over Cherry Point’s Bistro . A popular wedding venue and a favourite stop for wine tourists, the bistro was launched by the winery’s original owners and expanded by the Bonilla family . It has proven one of the wineries strongest connections with the community .
The beautiful herb garden patio seating and indoor pavilion dining room overlooking the vines are the backdrop for many great events such as dinner theatre, long table dinners in the vineyard, a Friday evening patio oyster bar, and wine release parties . Cherry Point also hosts weddings and large events .
While they are not certified organic, they employ organic practices, spraying only natural elements and taking the utmost care of the land . They also compost on site, making compost tea to apply to the vineyard, and mulch all their prunings back onto the soil .
The land here is very aromatic and produces very aromatic white wines .Their 2011 Ortega won a Double-Gold Medal at the 2012 All Canadian Wine Competition in Toronto – a feat achieved by very few wines .
VARIETY VINTAGE COMPETITION MEDAL
Oretega (White) 2012 All Canadian Wine Competition, Toronto Double Gold
Blackberry Dessert 2013 Northwest Summit Competition Gold
Blackberry Dessert. 2011 Northwest Summit Competition Silver
Costal Red 2012 Northwest Summit Competition Silver
Lagrimas Negras 2011 Northwest Summit Competition 2014 Silver
Pinot Blanc 2013 Northwest Summit Competition 2014 Silver
Gerwurtzraminer 2012 Osoyoos Oyster and Wine Competition Wild Card
Notable Awards
XAVIER BONILLA
PROPERTY DESCRIPTION Cherry Point Estate Wines
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
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Regional Map
Subject Property
PROPERTY DESCRIPTION
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vancouver island, canada
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
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Local Map
Subject Property
45 MINUTESVICTORIA
60 MINUTESNANAIMO
PROPERTY DESCRIPTION Cherry Point Estate Wines
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
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Aerial Map
PROPERTY DESCRIPTION
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vancouver island, canada
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
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Plat Map
Subject Property
507 meters / 1,663 feet
263
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PROPERTY DESCRIPTION Cherry Point Estate Wines
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
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Cobble Hill Wine Region
Subject Property
Damali winery
Enrico winery
unsworth vineyard
merridale cidery
silverside farm
venturi schulze
rocky creek
blue grouse
Cowichan’s 15 wineries include Cherry Point, Zannata, Averill Creek, Blue Grouse, Venturi-Schultze, Alderlea, Godfrey-Brownell, Glenterra, Unsworth, Silverside, Rocky Creek, Demali, Deoll, Enrico, 22 Oaks, plus Merridale Ciderworks .
zoning land useZ O N I N G & L A N D U S E I N F O R M AT I O N
cherry point estate wines
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
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ZONING AND LAND USE
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A-1 Zoning and Ordinances Agricultural Land Reserve
The property is in the Agricultural Land Reserve . To fully understand these restrictions, please review the ALC Act and ALR Regulation .
The ALR is a provincial land-use zone in which agriculture is recognized as the priority use . It is the biophysical resource base that supports farm and ranch activities in the province . Farming/ranching of ALR land is encour-aged and non-agricultural uses are regulated . If you wish to subdivide, use your land for non-farm purposes or exclude it altogether from the ALR, you must submit an application to the Agricultural Land Commission (ALC) and obtain its approval .
The Agricultural Land Commission Act (the “ALC Act”)and Agricultural Land Reserve Use, Subdivision and Pro-cedure Regulation (the ALR Regulation”) prioritizes agricultural land use within the reserve and allows for some additional land uses that may be regulated or prohibited by local government .
Can I develop my ALR property for any land use I like?Only if it is for agricultural purposes . If not, you require formal approval from the ALC before initiating any devel-opment or land use that is not currently allowed by the ALC Act and the ALR Regulation . If approval is given for a change of land use, the land owner or operator is subject to compliance with all other legislation and rules that may apply to the land, including but not limited to local government zoning . How many dwellings are permitted per parcel?One single-family dwelling per land registry parcel is permitted within the ALR provided it is permitted by zoning .
I want to put an additional dwelling on my property. What are my options?Permitted in the ALR:
A . Suite within a single family dwelling . Unless prohibited by a local government bylaw, the ALR Regulation permits a secondary suite for residential purposes, wholly contained within a single family dwelling, on a parcel in the ALR . The secondary suite use is not limited as to who occupies the suite . For more information, see ALC Policy #8 .B . Additional dwelling (manufactured home) for an immediate family member. Unless prohibited by local gov-ernment bylaw, one manufactured home up to 9 metres in width, for use by the owner’s immediate family is permitted . For more information, see ALC Policy #8 .
May be permitted in the ALR:A . Additional residences for farm help. Additional residences may be permitted by a local government (see Sec-tion 18 ALC Act) if they are necessary for full-time, bona fide farm/ranch operations and if the number of residences is commensurate with agricultural activities being undertaken on the parcel . A local government must be convinced that there is a legitimate need for an additional residence for farm help . Criteria may include the parcel having “Farm” classification under the Assessment Act, size and type of farm operation and other relevant factors . If there is any doubt with respect to need, an application under Section 20 (3) of the ALC Act for permission for non-farm use is required . For more information, see ALC Policy #9 .
Not permitted in the ALR:A . Additional permanent dwelling for an immediate family member . An additional permanent dwelling for use by an immediate family member and that is not necessary for farm/ranch operations will require an applica-tion for non-farm use under Section 20 (3) of the ALC Act .B . Additional dwelling (permanent or manufacture home) for a non-farm use other than an immediate fam-ily member . An additional manufactured home, or permanent dwelling for use by a non-immediate family member and that is not necessary for farm/ranch operations, will require an application for non-farm use under Section 20 (3) of the ALC Act .
overviewM A R K E T O V E R V I E W
MARKET OVERVIEW cherry point esate wines
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
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Vancouver Island
Market Highlights
Diversified Economy
■n Vancouver Island is a local leader in forestry, aquaculture, tourism, arts & culture, high technology, mining, and public sector services .
Tourism
■n The region has well-established tourism infrastructure . Ferry traffic was up 5% in 2015, and overnight visitors up 5 .3% year over year . Passenger volumes at the regions airports are up 6% .
Desirable Climate
■n The average temperature rarely rises above 85°F / 30°C or falls below 40°F / 5°C
GeographyVancouver Island is the largest island off the west coast of North America . Situated next to the mainland coast of British Columbia and the north shore of Washington State’s Olympic Peninsula, Vancouver Island occupies an area about the size of Holland . It stretches 500 kilometres (320 miles) southeast to northwest with an area of 3,175,000 hectares (9,493,171 acres) and 3,460 kilometres (2,150 miles) of coastline . It is separated from Vancouver, B .C . by the Strait of Georgia to the east and from Washington State by the Strait of Juan de Fuca to the south and southeast . Vancouver Island is actually closer to the United States than to mainland west coast Canada . Vancouver Island is the largest island off the west coast of North America . Situated next to the mainland coast of British Columbia and the north shore of Washington State’s Olympic Peninsula, Vancouver Island occupies an area about the size of Holland . It stretches 500 kilometres (320 miles) southeast to northwest with an area of 3,175,000 hectares (9,493,171 acres) and 3,460 kilometres (2,150 miles) of coastline . It is separated from Vancouver, B .C . by the Strait of Georgia to the east and from Washington State by the Strait of Juan de Fuca to the south and southeast . Vancouver Island is actually closer to the United States than to mainland west coast Canada .
MARKET OVERVIEW
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vancouver island ,canada
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus & Millichap ACT ID U0120239
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