One of the largest commercial buildings in Kamloops is up for sale.

The 11-floor Cornerstone Tower across the street from city hall is on the market for $6.3 million.

Co-owner Brendan Shaw bought the property in 2010. He says about half of the 37,000 square feet of commercial space was occupied then, and about 83 per cent is now occupied.

“You look at downtown Kamloops, and other commercial areas such as the North Shore, there’s been quite a substantial drop in commercial vacancy here in Kamloops in the last decade. I think that’s a testament to a number of developers who are currently looking at increasing that supply. Whether it’s through a mixed-use type development or a commercial development purpose-built downtown or on the North Shore right now.”

Shaw says the tower’s occupants are predominantly retail and office businesses and professional services.