Neighbourhood Overview
The Bence commercial submarket occupies north-west Regina, serving established residential communities including Bence, Whitmore Park, and the adjacent north-west residential precinct. The area's commercial activity follows the arterial and collector road network of the north-west, connecting Bence and surrounding neighbourhoods to the primary commercial spines of Albert Street and Pasqua Street. Commercial properties in the submarket include neighbourhood strip plazas, freestanding service retail, and professional office buildings serving the established north-west residential population.
Office lease rates in the Bence submarket run $18–22 per sq ft net, while retail space achieves $22–28 net for well-positioned neighbourhood commercial units. The submarket's vacancy profile of 6–9% reflects consistent demand from medical, personal service, and convenience retail tenants serving the established north-west residential catchment. The area's mature residential character and limited new commercial development provide stable conditions for existing commercial properties.
Key Commercial Corridors
Pasqua Street and Ring Road form the primary arterial commercial framework for the Bence submarket, providing high-traffic frontage for larger retail and service commercial uses at key intersections. The Pasqua Street corridor through north-west Regina supports a mix of national and regional retail, QSR, automotive services, and neighbourhood commercial anchors that serve the residential population of the north-west precinct.
Secondary commercial activity extends along the neighbourhood collector roads serving Bence and Whitmore Park, with small neighbourhood commercial nodes providing pharmacy, medical, and personal services within walking distance of the surrounding residential areas. The Bence submarket's proximity to the north-west Regina residential population and good arterial access creates stable commercial demand for neighbourhood service operators.
Asset Classes
Neighbourhood Strip Retail
Convenience, QSR, pharmacy, personal services. North-west Regina corridors. $22–28 net.
Medical & Professional Office
Family practice, dental, allied health, financial advisory. $18–22 net.
Service Commercial
Automotive, trades, and service-commercial bays.
Neighbourhood Convenience Retail
Day-to-day convenience serving north-west residential communities.
Investment Drivers
Bence commercial real estate offers investors stable neighbourhood commercial assets backed by an established north-west Regina residential catchment. The submarket's mature character and consistent tenant demand from essential-service retailers provide resilient investment performance.
Cap rates for Bence neighbourhood commercial assets typically range from 6.5–8.5%, consistent with Regina's suburban commercial market. Value-add opportunities exist in older strip commercial buildings where renovation can attract higher-quality professional and medical tenants.