It is the only enclosed shopping centre in the South Okanagan and Similkameen valleys. Situated on twenty-two acres, it has easy and convenient access from Highway 97, and also from Main Street, which runs through the city of Penticton. Cherry Lane Shopping Centre has over 2.5 million visitors a year on average. The property enjoys sales increases in the summer due to the increase in tourists that visit the area through the months of May to September.
Cherry Lane’s trade area is made up 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 Canada’s two top-rated fresh water beaches! Nestled in the spectacular fruit and vine covered hills of the south Okanagan valley, summer tourists quadruple the population of the City. Over 20% of annual retail sales happen in July and August. This makes the third retail quarter in Penticton as strong as 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 $30M 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 Meadowlark Festival, Fest-of-Ale, Elvis Festival, Peach Festival, Pentastic Jazz Festival, the spring and fall Okanagan Wine Festivals and the Show & Shine antique car show. Couple that with world class rock climbing, World Cup venue freestyle skiing, spectacular alpine and cross country skiing venues, the Gran Fondo cycling races, the Challenge series triathlons, kite-surfing, countless other water sports and cycling opportunities of every kind, and a dozen golf courses! Each of these makes a very dynamic environment and helps people choose Penticton. It all drives significant additional shoppers and discretionary expenditures into the marketplace and to Cherry Lane!