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Commercial real estate is booming in the Okanagan.

乌鸦传媒淲ith so much attention focused lately on the housing market, the bullish march of B.C.乌鸦传媒檚 commercial real estate market has gone seemingly unnoticed,乌鸦传媒� says Steve Harvey, founder of Business Finders Canada. 乌鸦传媒淏usiness is good in the Okanagan.乌鸦传媒�

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 乌鸦传媒� Commercial Finders Group 乌鸦传媒� 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.

乌鸦传媒淥ne of the gaps we乌鸦传媒檝e seen is that there are hundreds of properties for sale, but no real way to sift through them. That乌鸦传媒檚 why we launched Commercial Finders Group,乌鸦传媒� he says. 乌鸦传媒淭he Okanagan is a great place to invest and we乌鸦传媒檙e seeing more and more interest in property here from buyers all over Western Canada 乌鸦传媒� and beyond.乌鸦传媒�

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.

乌鸦传媒淭he commercial market in Kelowna has seen nothing but growth over the past year in all sectors 乌鸦传媒� particularly in the sale of mixed-use development sites in downtown Kelowna,乌鸦传媒� 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 Kelowna乌鸦传媒檚 trendiest neighbourhoods on Ellis Street. It乌鸦传媒檚 a perfect example of increasing commercial opportunity in the city 乌鸦传媒� 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 乌鸦传媒� 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 乌鸦传媒渟ky-restaurant乌鸦传媒� and culinary venue.

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

Andrew Peller Ltd. recently entered into agreements to buy three Okanagan wineries 乌鸦传媒� Black Hills Estate Winery, Gray Monk Estate Winery and Tinhorn Creek Vineyards 乌鸦传媒� 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.