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Penticton light industrial property set for redevelopment

March 21 sale sets stage for renewal of rare industrial site
Sold for $4.35 million on Mar. 21, 2324 Government Street in Penticton will be expanded for a new generation of tenants.

DEAL | Working with the Penticton brokerage Venture Commercial, SNFLWR Investment Corp. acquired a former box factory at 2324 Government St., Penticton with a view to renewing and expanding the property. Built in 1968 and having a current assessed value of $5.78 million, the property sold March 21 for $4.35 million. Zoned general industrial, the two-acre site is currently home to a 26,000-square-foot light industrial facility with multiple tenants. SNFLWR plans to add 16,000 square feet later this year.

PRICE | $4,350,000

FROM | SNFLWR Investment Corp.