The South Okanagan's largest enclosed mall is up for sale.
Cherry Lane Shopping Centre in Penticton, built in 1975, was officially listed this week. It is located at 2111 Main St.
The mall, home to the now-closed Hudson's Bay, features more than 50 stores, including Save-On Foods, London Drugs, and Best Buy Express. It is managed by commercial real estate firm JLL Capital Services.
"Highly visible from Penticton香蕉视频直播檚 main street and with easy access to nearby Highway 97, Cherry Lane Shopping Centre likewise provides its diverse service offering to the 2 million tourists who visit the South Okanagan region each year," JLL wrote on the property's listing.
The nine-hectare property was valued at $68.7 million in July 2024, according to BC Assessment.
JLL claimed in its listing that the mall welcomes more than two and a half million shoppers annually.
"A recent boost in tourism speaks to the area香蕉视频直播檚 popularity and growing affluence," it wrote.
The shopping centre also boasts a large parking lot, with a capacity of more than 1,100 vehicles.
Multiple residential buildings are located behind the mall, including the 11-storey Cherry Lane Towers and Athens Creek Towers.
Penticton City Council in August 2024 also approved a zoning amendment that would allow for the future construction of an apartment building at 2210 Main St. (parking lot located across Cherry Lane Shopping Centre with TD Bank, Real Canadian Superstore). The building would reach a maximum height of 20 metres (about six storeys) and feature 80 parking spaces.
