Published On: Wednesday, 24 July 2019

Woodgrove Area Office/retail Properties Purchased

RealStream Income Properties LP has passed $100 million in assets after the purchase of four properties in north Nanaimo.

The Comox-Valley firm announced July 2 that it now has Pleasant Valley Landing, Aulds Corner, 6475 Metral Drive and 6470 Metral Drive under its portfolio.

There are over 20 tenants in the office/retail properties, with tenants including HSBC Bank, Canadian Western Bank, ICBC, the Great Canadian Oil Change, Planet Fitness and Milano’s Restaurant.

RealStream was founded by Jonathan Veale, Jim Stewart and Richard DeLuca in 2014. Of their 15 properties, 14 are on Vancouver Island: Eight in Nanaimo, four in the Comox Valley, and one each in Victoria and Campbell River. They also have property in Kamloops.

“We are very pleased that the portfolio is 100 percent occupied and that it has been this way for quite some time,” says Jonathan Veale, RealStream co-founder and Portfolio Manager with DeLuca Veale Investment Counsel, the distributor and dealer of RealStream.

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Mazzei Electric owner Ben Mazzei is “amped up” over the latest news at the Nanaimo-based electrical company. They have opened a new branch in Kelowna to serve the Okanagan Valley.

Mazzei Electric also has offices in Langford (Greater Victoria) and Fort St. John.

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More good news at Nanaimo Airport.

Air North has announced it will offer weekly charter flights to Kelowna enroute to Prince George and Watson Lake, Yukon.

The company’s plan is to use a Boeing 737 airplane, and is considering regular, weekly passenger service year-round, perhaps set up as soon as September.

The direct Nanaimo-Toronto flights by Air Canada (recently purchaser of Air Transat) are slated to start in July, continuing the momentum that has made Nanaimo the second busiest airport on Vancouver Island, behind Victoria and ahead of the Comox Valley.

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Robotic tech company Inuktun Services has been purchased by Quebec-based Eddyfi Technologies.

As part of the acquisition, Eddyfi, which has purchased six tech companies in the past year, has merged Crystal Cam Imaging with Inuktun.

Inuktun President and CEO Colin Dobell says “For several years now, we’ve been looking to partner with NDT companies that can help advance the capabilities of our products. This transaction links us with one of the best. The future opportunities are seemingly endless. It’s very exciting.’’

Inuktun will become Eddyfi Technologies Center of Excellence for Robotics, and the Inuktun staff in the United States will be located in Deer Park, Texas. Their Nanaimo office remains on Kenworth Road.

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French teck start-up Globethik has chosen Nanaimo as the base of operations as they pursue markets across North and South America, says partner Elodie Bouthors.

Globethik’s main product offering is a booking website for responsible tourism that have positive economic, social and environmental impact.

Charlotte Simoni founded Globethik after a six-month long trip to Asia. Elodie joined Charlotte in 2017 and the launched Globethik online last October.

They are working out of the Input Co-work space in downtown Nanaimo.

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Taste of BC Aquafarms land-based steelhead salmon farm has an exciting new product: A liquid fertilizer made from fish manure under the banner of Little Cedar Falls, that two students are promoting through the Telus Pitch contest that offers a $100,000 prize for the winning entrant.

President Steve Atkinson notes that Ally Barabonow and Alvin Meledath are making the pitch, which includes video presentations that are a minute long.

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The Silver Explorer cruise ship sustained damage after entangling with a fish net in the Bering Sea, and has had to cancel a July 11 stop at the Port of Nanaimo.

Tourism Nanaimo Manager Karen Bannister says “This cancellation is unfortunate for Nanaimo businesses and tourism operators, but also for the passengers who won’t get to visit out beautiful city on this trip.”

The Azamara Quest, with a capacity of close to 700 passengers, will still make its scheduled stop in Nanaimo on July 11, notes Port CEO Ian Marr.

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There’s always something happening close to the Nanaimo Regional General Hospital, as R.W. (Bob) Wall Contracting is moving towards changing the strip mall adjacent to NRGH that is home to Windward Pub and Serious Coffee into Hospital Commons.

Windward will be moving into a new structure on the property once the renovation/remodeling is completed in two or three years.

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Turner Land Surveying has a new location across from Midland Tools on Terminal Avenue.

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A tip of the hat to Inja Ma, owner and CEO of SEAMOR Marine Ltd., as she received $100,000 from the Government of Canada’s Women Entreprneurship Fund, as one of only three Vancouver Island firms named as recipients.

SEAMOR makes remotely operated vehicles.

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Northfield Dental is having Nanoose Kustom Design and Build do renovations on its building at 4-2150 Bowen Road.

- Mark MacDonald writes about business in Nanaimo. Tell him your story by emailing him at mark@businessexaminer.ca