250 Winnipeg St
Penticton, BC V2A 5M3
Iron City Square · Retail Property For Sale

INVESTMENT HIGHLIGHTS • 23,565 square foot, large format single-tenant property, with future pad development opportunity, servicing Penticton and the surrounding Okanagan Valley • 100% occupied by Landmark Cinemas on a carefree, fully net, 20 year lease with 15 years remaining and two, 5 year options thereafter • Landmark Cinemas is the only “First-Run” theatre in Penticton, making the Subject Site an entertainment destination for the City and surrounding area • Located within Penticton’s Downtown Economic Investment Zone where City initiatives, including the Revitalization Tax Exemption Program, are in-place to stimulate and encourage development • A Phase 1 Environmental Report conducted by AMEC Environment & Infrastructure in January 2012 concluded that no onsite areas of concern were identified • The tenant is in Year 5 of a 20 Year term, with a further increase in rent after Year 10 • Ability to further increase revenue by way of developing out two currently vacant pad sites, and/or through leasing back as parking to Landmark Cinemas • Subject Site is held in a bare trust, which can be purchased from the Vendors, thereby avoiding any property transfer tax