Former Kelowna Costco building sold for $31 million

The former Costco Warehouse building, at the junction of Highway 97 and Highway 33, has been sold.

According to B.C. Assessments, the sale price was $31.2 million and the sale was registered with them effective April 13 of this year.

That’s $7,000 less than the property was assessed at as of last July.

That assessment listed the value of the land at $27,114,000 and the building at $4,093,000.

Last December, when the Mission Group bought the 3.96-acre former B.C. Tree Fruits property next to the Tolko lands for $24 million, realtor Jeff Hudson said that might have been the largest real estate deal in the city to that point.

READ MORE: $24M sale of Kelowna waterfront property will trigger hundreds of millions in economic impact

That site has an 89,000 square foot building that is being converted into a homeless shelter.

The Costco site is 11.176 acres and zoned commercial. The building is 135,000 square feet and was built in 1991.

Costco relocated to its new Baron Road location in February after opening its gas bar a couple months earlier.

The B.C. Assessment page does not say who bought the former Costco site.

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