Kelowna, BC, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Nicola Wealth Real Estate (NWRE) and Mission Group are pleased to announce the unveiling of The Block, a state-of-the-art, 125,000-square-foot commercial development in the heart of Kelowna’s vibrant downtown. This premier office project, featuring cutting-edge smart technology and sustainable design, aims to redefine urban work and living in the region. The ribbon-cutting ceremony and grand opening are scheduled for September 12, marking a milestone in the evolution of downtown Kelowna.
“Through our collaboration with Mission Group, Nicola Wealth Real Estate, is excited to introduce The Block,” says Mark Hannah, Executive Managing Director & Head of Real Estate at Nicola Wealth. “This project not only enhances Kelowna’s urban landscape but also sets a new standard for modern working environments in the region for professional service firms. We believe The Block is a cornerstone of Kelowna’s downtown.”
Situated in the heart of a new urban village, The Block is crafted to enhance community and connectivity, offering a dynamic environment for businesses and visitors alike. With its innovative design and strategic location, The Block redefines Kelowna’s skyline, symbolizing the city’s growth and modernity while enriching the pedestrian experience and attracting people to the area.
“Downtown Kelowna has become a highly sought-after destination for businesses of all shapes and sizes. We are excited to contribute to the growing business economy in Kelowna by bringing a flagship office tower to the downtown core,” said Jonathan Friesen, CEO of Mission Group. “The amenities that the downtown core has to offer appeal to residents and businesses alike. Since opening, The Block has become the hub of an evolving downtown business community.”
The Block offers 125,000 square feet of high-quality space equipped with state-of-the-art smart technology and amenities. These include a rooftop patio with stunning views of Okanagan Lake, diverse retail and dining options along Bernard Avenue, and facilities designed with well-being in mind, such as a dog run, rooftop deck, boardroom, bike facilities, and ProducKIDvity, a 13,000 square foot daycare with 100 childcare spaces. The design features View Glass, a water feature, and a 55-foot rammed earth wall, prioritizing sustainability and energy efficiency.
The Block has proudly secured Beem Credit Union as its future anchor office and retail tenant, which will establish its corporate headquarters and a prominent retail branch at The Block. With Beem’s commitment, the building is now 65% leased, reflecting the growing appeal of The Block as a premier business destination.
Luke Turri, President at Mission Group adds, “We’ve curated a vibrant mix of tenants at The Block, creating a dynamic environment that supports Kelowna’s growth and innovation. Only three full floors remain available, ideal for professional service firms such as accounting, law, engineering, or tech-based companies.”
With significant leasing interest, The Block is well-positioned to meet the demand from professional service firms seeking centrally located office space in Kelowna. The leasing team has been highly selective, ensuring a balanced mix of tenants that enhances the development’s dynamic environment. Key tenants include Raymond James, Colliers, and Mission Group. The retail mix features an exercise studio, Kinton Ramen, The Gallery, Eyestyle Eyecare, and Lavender and Grace.
Additionally, Bertram, a residential condo tower situated on the same city block, is set to be completed by the end of the year and is already sold out. Bertram will bring people further into Kelowna’s vibrant downtown community, enhancing the pedestrian experience with its standout resident-focused amenities and expansive views of Kelowna and Okanagan Lake.
About Nicola Wealth Real Estate
NWRE is the in-house real estate team of Nicola Wealth Management Ltd., a premier Canadian financial planning and investment firm with over $16.1 billion (CAD) of assets under management. NWRE manages a diversified portfolio of properties across North America, including industrial, multi-family rental apartments, self-storage, office, retail, and seniors housing. The Nicola Wealth Real Estate portfolio now exceeds $10.1 billion in gross asset value. For more information, visit nicolawealth.com/real-estate.
About Mission Group
Mission Group, based in Kelowna, is a leading real estate development company known for its commitment to quality craftsmanship and community enhancement. With a portfolio spanning residential, commercial, and mixed-use projects, Mission Group continues to shape the future of Kelowna’s urban landscape.
Leasing Inquiries:
Christopher Rundle
crundle@missiongroup.ca
250-317-6998
