BC Tree Fruits site in Kelowna sells for $23.7 million

WI Staff
Western Investor

The near-four-acre site is adjacent to the 40-acre Tolko mill site, which is also slated for future development in the north end of the city

Site covers 3.95 acres in the north end of Kelowna. | HM Commercial

The near-four-acre site is adjacent to the 40-acre Tolko mill site, which is also slated for future development in the north end of the city

A large piece of Kelowna, B.C.’s north end redevelopment puzzle has come into focus, after it was announced Mission Group has purchased the former BC Tree Fruits packinghouse adjacent to the former Tolko mill.

“We can confirm that subject conditions have been removed, and the selling price was $23.75 million,” says BC Tree Fruits CEO Warren Sarafinchan.

The 3.95-acre property at the corner of Ellis Street and Bay Avenue was listed April 1 for $20 million.

The property will be part of two redevelopment plans taking place concurrently, one looking at the overall north end, and the other specific to the Tolko site. Earlier this month, the city of Kelowna unveiled a proposal for the 40-acre Tolko site, which envisions park lands and a mix of commercial and real estate development on the lakefront parcel.

Mission Group says it has no immediate plans for the BC Tree Fruits lands but invited interim tenants to come forward.

The sale was brokered by HM Commercial Group, which is licensed with Macdonald Realty Kelowna.

© 2021 Western Investor

BC Tree Fruits site in Kelowna sells for $23.7 million

WI Staff
Western Investor

The near-four-acre site is adjacent to the 40-acre Tolko mill site, which is also slated for future development in the north end of the city

Site covers 3.95 acres in the north end of Kelowna. | HM Commercial

The near-four-acre site is adjacent to the 40-acre Tolko mill site, which is also slated for future development in the north end of the city

A large piece of Kelowna, B.C.’s north end redevelopment puzzle has come into focus, after it was announced Mission Group has purchased the former BC Tree Fruits packinghouse adjacent to the former Tolko mill.

“We can confirm that subject conditions have been removed, and the selling price was $23.75 million,” says BC Tree Fruits CEO Warren Sarafinchan.

The 3.95-acre property at the corner of Ellis Street and Bay Avenue was listed April 1 for $20 million.

The property will be part of two redevelopment plans taking place concurrently, one looking at the overall north end, and the other specific to the Tolko site. Earlier this month, the city of Kelowna unveiled a proposal for the 40-acre Tolko site, which envisions park lands and a mix of commercial and real estate development on the lakefront parcel.

Mission Group says it has no immediate plans for the BC Tree Fruits lands but invited interim tenants to come forward.

The sale was brokered by HM Commercial Group, which is licensed with Macdonald Realty Kelowna.

© 2021 Western Investor