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Commercial real estate is booming in the Okanagan.

含羞草研究社淲ith so much attention focused lately on the housing market, the bullish march of B.C.含羞草研究社檚 commercial real estate market has gone seemingly unnoticed,含羞草研究社� says Steve Harvey, founder of Business Finders Canada. 含羞草研究社淏usiness is good in the Okanagan.含羞草研究社�

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 含羞草研究社� Commercial Finders Group 含羞草研究社� 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.

含羞草研究社淥ne of the gaps we含羞草研究社檝e seen is that there are hundreds of properties for sale, but no real way to sift through them. That含羞草研究社檚 why we launched Commercial Finders Group,含羞草研究社� he says. 含羞草研究社淭he Okanagan is a great place to invest and we含羞草研究社檙e seeing more and more interest in property here from buyers all over Western Canada 含羞草研究社� and beyond.含羞草研究社�

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.

含羞草研究社淭he commercial market in Kelowna has seen nothing but growth over the past year in all sectors 含羞草研究社� particularly in the sale of mixed-use development sites in downtown Kelowna,含羞草研究社� 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含羞草研究社檚 trendiest neighbourhoods on Ellis Street. It含羞草研究社檚 a perfect example of increasing commercial opportunity in the city 含羞草研究社� 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 含羞草研究社� 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 含羞草研究社渟ky-restaurant含羞草研究社� and culinary venue.

含羞草研究社淭hese new developments will change the landscape in downtown Kelowna 含羞草研究社� and there are lots more major changes to come in the near future,含羞草研究社� says Harvey. 含羞草研究社淭he commercial real estate market is sizzling hot right now.含羞草研究社�

Andrew Peller Ltd. recently entered into agreements to buy three Okanagan wineries 含羞草研究社� Black Hills Estate Winery, Gray Monk Estate Winery and Tinhorn Creek Vineyards 含羞草研究社� 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.