(CARLI BERRY / iNFOnews.ca)
January 10, 2025 - 7:00 AM
The former site of the BC Tree Fruits Cooperative is on the market for $28 million after the price was reduced by $11 million.
The 18.5-acre site, five minutes from Kelowna Airport, features 150,000 square feet of cold storage warehousing and office space.
According to the listing by HM Commercial Realty, the site is "an extremely rare offering to acquire nearly 20 acres of industrial land in the fastest growing metropolitan city in Canada."
After almost 90 years, the BC Tree Fruits Cooperative shut down last summer and a court ordered the sale of its land and assets. It had $58 million of debt.
In September 2023, the site at 3335 and 3345 Sexsmith Road was on the market for $39 million and the price has now been reduced to $28 million.
The land consists of three titles and is zoned for general industrial use. The realtor's ad states that industrial land in this neighbourhood normally sells for $2.5 to $3 million an acre, while this site is listed at $2 million an acre.
The realtor notes that the buyer will have to occupy the site for up to two years.
The site at Sexsmith Road.
Image Credit: HM Commercial Reality
In the years prior to closing down, the BC Tree Fruits Cooperative did sell millions of dollars worth of land.
In 2020, it sold its office on Water Street for $7.5 million, and in 2021 it sold its Bay Avenue warehouse, next to the Tolko Industries site, for $24 million. The packing house at Bottom Wood Lake Road sold for $15.8 million in 2023.
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