Leasing
Cherry Lane is the retail destination of choice in the south Okanagan Similkameen and is in the enviable position of being almost fully leased. Limited opportunities for new business are anticipated as existing tenancies roll over. Identified merchants sought to add to the centre's merchandise mix include: men's wear, children’s wear, gifts, news/tobacco, and unisex fashion. Compared with other BC interior shopping centres, Cherry Lane enjoys both very high sales performance and among the very lowest operating costs in the province. This makes for a very strong business platform. For further leasing information please contact Cherry Lane's General Manager.
Temporary Occupants
This is a great way to test new products or retail concepts in the marketplace. Temporary retail opportunities are available in the common area throughout the year. Typically, these occupancies are of one or two weeks in duration. Over the Christmas season, a limited number of temporary locations are made available. Each must stay in the centre for at least three weeks to offer customers consistency during the peak retail period. Temporary tenants must not conflict in a material way with any permanent tenant in the shopping centre. For further information please contact Cherry Lane's administrative assistant.
Market Information
Cherry Lane's trade area is comprised of over 100,000 people and reaches west to Princeton, north to Peachland, east to Grand Forks and south to Washington State.
Penticton is one of Canada's great summer holiday destinations situated between two stunning lakes and the fruit and vine covered hills of the south Okanagan valley. Summer tourists quadruple the population of the City and drive over 20% of annual retail sales in July and August. This makes the third retail quarter in Penticton stronger than the fourth quarter Christmas retail season! Penticton is also home to British Columbia's third largest trade and convention centre. With over 10,000 annual delegate nights, it adds $29M to the Penticton economy. A good portion of this is in retail sales. The Penticton market boasts one of the highest per capita investment incomes in the country. This all adds up to a very desirable and profitable retail environment.
The Okanagan is host to numerous civic festivals and cultural events including the Okanagan Children's festival, Meadowlark Festival, Fest-of-Ale, Elvis Festival, Beach Blanket Film Festival, Peach Festival, Pentastic Jazz Festival, the spring and fall Okanagan Wine Festivals, and the Show & Shine antique car show. Ironman Canada tops a numerous list of sporting events and activities which include world renowned rock climbing, skiing/ snowboarding, a myriad of water-sports including kite-surfing and a dozen golf courses! Each of these and other events help to drive additional shoppers and discretionary expenditures in the marketplace.