Vacant-User
294 Bernard Avenue
294 Bernard Avenue, Kelowna, BC V1Y 6N4
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap's Western Canada NNN Group has been exclusively engaged to market the 100% freehold interest in 294 Bernard Avenue, Kelowna, British Columbia (the "Subject Property"). The Subject Property is a three-storey, mixed-use commercial building totaling 19,086 SF, 100% leased to Bank of Montreal (dba "BMO") on a recently extended triple-net (NNN) lease expiring May 31, 2031. Situated at the iconic corner of Bernard Avenue and Water Street in the heart of Downtown Kelowna, the Subject Property benefits from immediate proximity to Okanagan Lake, a rapidly densifying residential and hospitality precinct, and Kelowna's premier high street retail corridor. The offering presents a rare opportunity to acquire a trophy, single-tenant flagship asset underpinned by one of Canada's largest and most credit worthy financial institutions, located on one of the most recognizable commercial corners in the Okanagan.
294 Bernard Avenue
Investment Highlights
- A landmark BMO branch at the iconic intersection of Bernard Avenue and Water Street, steps from Okanagan Lake and positioned at one of Downtown Kelowna's most recognizable commercial addresses.
- 100% occupied by Bank of Montreal, one of Canada's Big Five banks, operating at the Property since 2001 under a triple net lease with minimal landlord responsibilities.
- Situated at the gateway to Kelowna's downtown waterfront district, with immediate access to Okanagan Lake, City Park, hotels, restaurants, entertainment amenities, and strong pedestrian activity.
- Surrounded by luxury residential towers, hotels, office buildings, and major lifestyle amenities, with more than 1,600 residential units planned, under construction, or recently completed in the immediate area.
- The Subject Property is held in a bare trust, providing purchasers with the potential option to acquire shares of the nominee corporation, which may result in property transfer tax savings.
- UC1 Downtown Urban Centre zoning permits a broad mix of retail, office, hotel, financial institution, residential, and mixed-use developments, with building heights of approximately 12 storeys.
Exclusively Listed By
Listing Price: Request For Offer
Investment Highlights
- A landmark BMO branch at the iconic intersection of Bernard Avenue and Water Street, steps from Okanagan Lake and positioned at one of Downtown Kelowna's most recognizable commercial addresses.
- 100% occupied by Bank of Montreal, one of Canada's Big Five banks, operating at the Property since 2001 under a triple net lease with minimal landlord responsibilities.
- Situated at the gateway to Kelowna's downtown waterfront district, with immediate access to Okanagan Lake, City Park, hotels, restaurants, entertainment amenities, and strong pedestrian activity.
- Surrounded by luxury residential towers, hotels, office buildings, and major lifestyle amenities, with more than 1,600 residential units planned, under construction, or recently completed in the immediate area.
- The Subject Property is held in a bare trust, providing purchasers with the potential option to acquire shares of the nominee corporation, which may result in property transfer tax savings.
- UC1 Downtown Urban Centre zoning permits a broad mix of retail, office, hotel, financial institution, residential, and mixed-use developments, with building heights of approximately 12 storeys.
Investment Overview
Marcus & Millichap's Western Canada NNN Group has been exclusively engaged to market the 100% freehold interest in 294 Bernard Avenue, Kelowna, British Columbia (the "Subject Property"). The Subject Property is a three-storey, mixed-use commercial building totaling 19,086 SF, 100% leased to Bank of Montreal (dba "BMO") on a recently extended triple-net (NNN) lease expiring May 31, 2031. Situated at the iconic corner of Bernard Avenue and Water Street in the heart of Downtown Kelowna, the Subject Property benefits from immediate proximity to Okanagan Lake, a rapidly densifying residential and hospitality precinct, and Kelowna's premier high street retail corridor. The offering presents a rare opportunity to acquire a trophy, single-tenant flagship asset underpinned by one of Canada's largest and most credit worthy financial institutions, located on one of the most recognizable commercial corners in the Okanagan.
Exclusively Listed By
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