Growers Supply property sold

Shukin Orchards Ltd. of Creston is the successful bidder for the Growers Supply Co. property at 754 35th Avenue South in Erickson.

Court documents filed December 30 by Alvarez & Marsal, the court-appointed monitor of proceedings related to the winding down of BC Tree Fruits Co-op, indicate Shukin bid $1.9 million for the property, which had been listed in September for $2.35 million.

Shukin was the sole party to submit an offer on the property, which broker Colliers Canada indicated wasn’t surprising given that Creston is not considered an “active market.”

The property comprises 19.6 acres dominated by an 85,000-square-foot warehouse. The site is zoned for light industrial use as well as agriculture, with the agricultural portion – approximately 11.8 acres – lying within the Agricultural Land Reserve.

Alvarez & Marsal’s latest report to the court was silent on prospects for the sale of the cold storage facility on Sexsmith Road in Kelowna leased by Novem Pharmaceuticals Inc. as well as the Oliver packinghouse.

In its report to the court on December 6, Alvarez & Marsal said Novem’s original purchase and sale agreement for the cold storage facility had collapsed.

Novem CEO Colin Davison told Country Life in BC on December 12 that he expected “a revised offer” to be submitted “over the course of the coming days” but declined further comment.

Novem’s lease on the facility runs through April 30.

Alvarez & Marsal reported November 21 that it had yet to receive a going-concern offer for the Oliver packinghouse.

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