Cherry Lane Shopping Centre in Penticton listed for sale
A long-established mall in the South Okanagan worth $69 million was put up for sale this week.
Located in the heart of Penticton, Cherry Lane shopping mall serves more than 110,000 residents with a mix of local boutiques, the now closed Hudson’s Bay, London Drugs and Save-on-Foods.
Opened in 1975, the mall is the only enclosed shopping centre in the South Okanagan and Similkameen regions, according to commercial real estate company JLL who recently listed it for sale.
Sitting on 21.6 acres, the shopping centre has 60 stores, 1,144 parking spots, 277 square feet of retail space and 2.5 million shoppers visiting every year, the listing says.
A price for the mall isn’t provided in the listing, however, BC Assessment values the property at $68,764,000 in an assessment dated July 1, 2024.
JLL was not immediately available to provide further information.
Go here for the real estate listing for Cherry Lane Shopping Centre.
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