Towne Centre Mall sold

Kelowna's only downtown shopping mall has new owners.

Towne Centre Mall on Bernard Avenue was recently sold to undisclosed buyers for an undisclosed price.

The sale closed late last week.

Perry Freeman of Colliers International made the announcement Friday.

He called it exciting news for the city's downtown and says the new owners are looking forward to improving on the current space.

The two-storey mall, built in 1981, includes 24 retail stores and businesses.

Freeman says the mall will play an important retail role as the eastern edge of downtown continues to densify.

New residences are being constructed to the south at Central Green, while the former Bargain Centre across Bernard Avenue is for sale with an eye to a mixed-use commercial and retail development.

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