The Opportunity

N.R.E. Newmark Real Estate Canada Limited (“Newmark Canada”) and Royal LePage Kelowna (“Royal LePage”), as exclusive listing agent on behalf of Churchill Iron Plaza Penticton Inc. (the “Vendor”), is proud to present the opportunity to acquire a ±23,487 square foot retail asset located at 250 Winnipeg Street, Penticton, BC (“Iron City Square”, the “Property” or “Offering”).

Built in 2012, the Property is 100% leased until October 31, 2032 to Landmark Cinemas of Canada Inc. (“Landmark” or the “Tenant”), a leading Canadian movie theatre chain that operates in 40 locations across the country. Purpose-built for Landmark, 250 Winnipeg Street is a state-of-the-art facility that caters to the movie-going customer and is renowned for its high-quality service, comfortable seating, and cutting-edge technologies. Iron City Square offers an upscale experience with 4 spacious auditoriums, comfortable seating, and an array of modern amenities.

Situated in the heart of Downtown Penticton, the Property is surrounded by a thriving community, offering an array of shopping, dining, and entertainment options. With its prime location and unrivaled amenities, Iron City Square is the perfect investment opportunity for anyone looking to own a piece of the entertainment industry.

Landmark is an ideal tenant partner, providing stable and steady cash flow to the investor. The lease agreement ensures a long-term commitment from the Tenant, adding to the property’s investment value. This offering provides an exceptional opportunity to acquire a top-performing asset in one of the most sought-after locations in Penticton.

Property Details

The Location

Penticton Airport: 15 mins

Summerland: 20 mins

Naramata: 15 mins

Oliver: 30 mins

Peachland: 40 mins

Osoyoos: 50 mins

West Kelowna: 50 mins

Vancouver: 4 hr 40 mins