contributed

Commercial real estate is booming in the Okanagan.

91裸聊视频淲ith so much attention focused lately on the housing market, the bullish march of B.C.91裸聊视频檚 commercial real estate market has gone seemingly unnoticed,91裸聊视频� says Steve Harvey, founder of Business Finders Canada. 91裸聊视频淏usiness is good in the Okanagan.91裸聊视频�

Kelowna-based Business Finders Canada has had a front-row seat to the local boom. The commercial brokerage has grown steadily over the past decade and is expecting another significant expansion, adding several more brokers in the next year throughout Western Canada to keep up with growing demand.

It also added a new arm 91裸聊视频� Commercial Finders Group 91裸聊视频� which will raise the profile of commercial real estate in the Thompson-Okanagan.

There are hundreds of commercial and industrial properties on the market in the region, with an increasing number of interested buyers searching for the right fit.

91裸聊视频淥ne of the gaps we91裸聊视频檝e seen is that there are hundreds of properties for sale, but no real way to sift through them. That91裸聊视频檚 why we launched Commercial Finders Group,91裸聊视频� he says. 91裸聊视频淭he Okanagan is a great place to invest and we91裸聊视频檙e seeing more and more interest in property here from buyers all over Western Canada 91裸聊视频� and beyond.91裸聊视频�

The commercial real estate market has had six consecutive quarters of strong performance, according to the BC Real Estate Association. The association says the strong economy has helped boost key commercial indicators steadily since 2009.

91裸聊视频淭he commercial market in Kelowna has seen nothing but growth over the past year in all sectors 91裸聊视频� particularly in the sale of mixed-use development sites in downtown Kelowna,91裸聊视频� says Harvey.

Major change has taken hold in key areas of the city, including a 20-storey high-rise, dubbed Ella, planned by Mission Group in one of Kelowna91裸聊视频檚 trendiest neighbourhoods on Ellis Street. It91裸聊视频檚 a perfect example of increasing commercial opportunity in the city 91裸聊视频� with retail outlets and parking on the first five storeys of the condominium.

The city has also seen the recent sale of the long-vacant Bargain Shop building on Bernard Avenue and the sale of 1151 Sunset Drive, along with two iconic towers at One Water Street 91裸聊视频� one being 36 storeys. Westcorp Development has submitted an application for a development permit to the City of Kelowna for the new design of its proposed hotel on the Willow Inn site. The project will include 174 hotel rooms, 49 residences, conference centre, restaurant and coffee shop next to Kerry Park, retail opportunities in the lobby and on Water Street, and a 16th floor public 91裸聊视频渟ky-restaurant91裸聊视频� and culinary venue.

91裸聊视频淭hese new developments will change the landscape in downtown Kelowna 91裸聊视频� and there are lots more major changes to come in the near future,91裸聊视频� says Harvey. 91裸聊视频淭he commercial real estate market is sizzling hot right now.91裸聊视频�

Andrew Peller Ltd. recently entered into agreements to buy three Okanagan wineries 91裸聊视频� Black Hills Estate Winery, Gray Monk Estate Winery and Tinhorn Creek Vineyards 91裸聊视频� for a combined purchase price of $95 million. And a six-storey Hyatt hotel and an accompanying six-storey mixed-use building at the corner of Enterprise Way and Spall Road are before Kelowna city council.

The boom is being felt across B.C., with the value of commercial sales up nearly 40 per cent in the Lower Mainland. The upward trend is expected to continue into next year.