Winnipeg Free Press

Winnipeg Free Press (Newspaper) - January 12, 2009, Winnipeg, Manitoba C m y k Page b3 935 so. It 7th floor 125 Garry st @ York two window offices a Beautiful views Kitchen storage space for two secretaries reception area annual net rent $ 11.50 per soft of tax $ 11.00 per soft Avail immediately Brent business services Ltd. 943 2244 for lease Klaus Fischer pm 981 3224 re Max performance realty website wow. A commercial. Com for lease office 52 Donald Street 3216 so. It. In signature downtown bldg. 8 offices reception washrooms Central a c $ 10. Psf $ 7.50 psf incl. Utilities for Sale office retail Exchange area 251/ 253 Princess st. 1 Storey masonry bldg. Approx. 6360 so. It. With 3000 so. It. Basement plus 1600 so. It. Workshop. Main bldg. Has Maple floors traditional tin ceiling offices and warehouse. $ 425,000 for Sale 32 suites 508 Sherbrook st. Masonry Concrete apartment bldg. In v. Good condition with extensive refurbishing done in recent 5 yrs. Incl. Windows roof paint Many Hardwood floors. $ 1,270,000 for Sale River Heights retail 775 Cambridge st. Super location just off Grant ave. With retail bldg. Approx. 2100 so. It. Presently or. Peters Deli. Many upgrades in last year incl. Furnace flooring paint & More. Equipment newer & Avail separately. $ 279,000 commercial properties & investments 915 m c l Eod a venue retail office space for lease main floor 660sf and second floor 690sf available prime retail professional office location affordable rental rate near superstore tim Horton and other Strong tenants available january 2009 John Stroich 669 4800 go Ltd its. Net                                                                                                                      "           #    "        $                                                                                  "   "  #   $    %                     %    &            %             %        $ 6.0 acres Hwy # 1 East zoned c2 he within perimeter East West Access West of old car Canada for Sale lease or will develop property can be subdivided Henry 269 2155 Norm 992 7275                                       /                                                                                                    $   0         &           $                                      &                                business editor Steve Pona 697 7264 business free press. My. Ca i Winnipeg repress. Com monday january 12, 2009 b 3 a Winnipeg manufacturing firm has acquired a Large Industrial Plant in East Kildonan and is charging ahead with a major expansion at a time when Many North american manufacturers Are re trenching in the face on a deepening economic recession. E. H. Price Ltd., which manufactures air distribution products and bus parts has purchased the former Wilson Auto electric Plant at 600 Golspie st. As part of a three phase three year expansion. The expansion will see the company add 30,000 Square feet of production space expand its product research and development labs and consolidate local manufacturing on two properties the 5.1 acre one on Golspie and directly across the Street which fronts onto Raleigh Street. That property is where e. H. Prices main production Plant and corporate Headquarters Are located. E. H. Price president Joe Cyr said the company needed More space to manufacture some of the new products it has developed for the last five years. They include a new Type of Silencer that reduces the amount of noise created by its air distribution systems. The firm also wanted to further expand its a d operations which have become a driving Force for the company and to consolidate manufacturing in one area to reduce operating costs. As part of that process the company will be relocating its bus parts manufacturing division arow global from 404 a geez st. To the Golspie facility. Some of the production work now done in the main Plant on Raleigh also will be moved across the Street to the Golspie Plant Cyr said which will free up More space for product development. The 130,000 Square foot Wilson Auto electric building was one of the largest Industrial properties to change hands in 2008, and the relatively Short time it took to sell it less than nine months is a reflection of the ongoing healthy demand for Industrial space in Winnipeg. Local realtors say that despite the deepening North american recession there Are still quite a few firms looking to buy or lease Industrial space in Winnipeg. I guess Winnipeg is in a bit of a unique situation where the types of businesses and industries out Here dont seem to be affected As much As ones in some other parts of the country Dave Bergman a sales consultant with re Max professionals said in an interview. Bergman said the problem Isnit finding enough buyers or renters its finding enough properties that offer the kinds of amenities most Industrial clients Are looking for these Days things like High ceilings and parking lots that can accommodate Semi trailer trucks. Thatus especially True of buildings in the 10,000 to 15,000 Square foot Range. Ive got two or three clients myself that want to buy buildings like that and they cant find one he said. Another Veteran commercial agent Brian Aronovitch of Cushman & Wakefield Lepage brokerage services said he also has a number of clients looking for Industrial space. Aronovitch said he recently completed a leasing Deal for one company that upgraded from a 90,000 Square foot building to a 125,000 Square foot one. And he has another thatus looking to buy either an existing building or a parcel of Industrial land to built on. But even vacant land is hard to come by within City limits although theress some available in neighbouring Rural municipalities. Aronovitch and fellow Cushman & Wakefield agent Alex Ross were also the Selling agents for the Wilson Auto electric building. Aronovitch said although it took almost nine months to Complete the transaction the initial tentative Deal was struck much sooner than that. He said while the recession a snot had a big Impact on Industrial sales and leasing in the City he does have a few clients with u. S. Based Parent companies that have put their expansion plans on hold because of the severity of the downturn South of the Border. But those cases Are still fairly isolated. He and Bergman said they dont foresee any big drop off in demand in coming months. But Bergman said one potential Fly in the ointment could be interest rates. If interest rates stay where they Are it will be of. But if they go Way up i could see a lot of turmoil in the Market. Know of any newsworthy or interesting trends or developments in the local office retail or Industrial real estate sectors let real estate reporter Murray Mcneill know at the e mail address below or at 697 7254. Murray. Mcneill free press. My. Ca local Market stable local realtors say the healthy demand for Industrial properties in Winnipeg coupled with an ongoing shortage of suitable properties for Sale or lease kept Selling prices and rental rates fairly stable through 2008. Here Are some examples. Rental rates generally Range from about $ 4.50 per Square foot for older Industrial space to $ 7 or $ 8 per Square foot for newer space. Selling prices generally Range from $ 45 per Square foot for larger buildings 40,000 Square feet and up to As High As $ 70 per Square foot for some of the smaller highly sought after ones 10,000 to 15,000 Square feet in size. Source Dave Bergman of re Max professionals commercial real estate major expansion Bucks trend e. H. Price moves to new facility As business grows Wayne Glowacki / Winnipeg free press e. H. Price Ltd. Ceo Gerry Price left and president Joe Cyr at recently acquired building near their present location that will expand their facilities. Murray Mcneill b _ 03_ Jan 12 09. Ind b3 1 / 11/ 09 7 03 45 pm ;