Jim Pattison Group purchases Penticton’s Cherry Lane Shopping Centre

Published 11:15 am Saturday, December 13, 2025

Penticton’s Cherry Lane Shopping Centre has new owners, with the Jim Pattison Group sealing the deal to purchase the property from Manulife.

The mall was built in 1975 and is located at 2111 Main St., where it has been home to dozens of businesses over the years, including the now-closed Hudson’s Bay.

Current businesses include Coles, Save-On Foods, London Drugs, and Best Buy Express. The property is under the management of commercial real estate firm JLL Capital Services

In an email on Dec. 15, Frank Picard, vice-president of asset management with the developments branch of the Pattison Group, confirmed that the mall had been purchased on Dec. 3.

“The current mall team will continue to manage the shopping centre to ensure continuity, so no changes are to be expected in the day-to-day operations,” Picard said.

The site covers nine hectares, with a parking lot capacity for more than 1,000 vehicles. JLL’s page on the shopping centre says it sees 2.5 million shoppers a year.

The property was listed for sale in July 2025, following the Bay’s ceasing operations.

No price was listed. However, according to BC Assessment’s last assessment of the property, it was valued at $68.7 million.

Multiple residential buildings are located behind the mall, including the 11-storey Cherry Lane Towers and Athens Creek Towers.

Penticton City Council in August 2024 also approved a zoning amendment that would allow for the future construction of an apartment building at 2210 Main St., across from Cherry Lane Shopping Centre in the parking lot that has TD Bank and the Real Canadian Superstore.

Since the zoning approval was granted, no further news has emerged about that particular development.

Pattison Developments currently has offices located in B.C. and Alberta, with projects including One Burrard Place in Vancouver under its umbrella.