Harbour Landing Business Park yields stable cash flow and future development options

Regina, SK – Global commercial real estate advisor, Avison Young, announces the sale of Harbour Landing Business Park (“Harbour Landing BP”) for $36.1 million – representing Regina’s largest office sale thus far this year. 

Sold by Harbour Landing Business Park Ltd. (“HLBP Ltd.”) to MDL Real Estate Income Fund GP Inc. (“MDL”), Harbour Landing BP is situated in a high-profile location, in Regina’s southwest, and is 100% occupied by highly desirable, AAA tenants. 

Avison Young’s Dale Griesser was the exclusive advisor and agent for Harbour Landing Business Park Ltd.

“I was honoured to guide our client through this opportunity to carefully, strategically identify the best owner for the site,” said Dale Griesser, Associate, Avison Young. “The business park is a tremendous asset, giving MDL stable, growing cash flow from impeccable tenants, as well as the exciting option to further build on the remaining land.”

Situated at 4533, 4545 and 4581 Parliament Avenue, the business park includes two three-storey office buildings, a free-standing, drive-thru retail site occupied by Tim Horton’s, ample parking, and more than one acre of land for future development.

"We are extremely pleased with Dale and his team, and proud with the equally committed landlord MDL to the tenants," said Albert Chow of HLBP Ltd.

Among the AAA tenants are the Saskatchewan Health Employees’ Pension Plan, Chartered Professional Accountants Saskatchewan, the Association of Professional Engineers and Geoscientists of Saskatchewan, SGI Canada, and Saskatchewan Cancer Agency.

Harbour Landing BP is attractive to high-calibre businesses because of its proximity to the Regina International Airport, and its prime location on a major arterial road that easily connects to public transit and to Grasslands – the city’s premier retail shopping, dining, and entertainment destination. It is also LEED Silver certified and BOMA Best certified.