Regina Core — Government District · Scarth Street · Victoria Avenue

Downtown Regina Commercial Real Estate

Saskatchewan's seat of government and primary commercial office address. Crown corporations, law firms, financial institutions and government ministries anchor the downtown core. Scarth Street pedestrian mall and Victoria Avenue retail corridor.

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$14–22Office Rent /sf Gross

$16–28Scarth St Retail /sf Net

7.5–9.5%Office Cap Rate

Gov'tAnchor Tenants

Property Types

What's Available in Downtown Regina

Office

$14–22/sf gross

Class A · Class B · Government · Crown Corp

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Retail

$16–28/sf net

Scarth Street · Victoria Ave · Street Front

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Mixed-Use / Hotel

Ground-floor commercial

Hospitality · F&B · Service Retail

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Downtown Regina Submarkets

Districts Within Downtown Regina

Government Precinct

Provincial Ministries · Crown Corps

The Legislative Assembly and surrounding provincial ministry offices anchor this precinct. SaskPower, SaskTel, SGI and SaskEnergy occupy significant office space. Long-term government leases with minimal credit risk define the investment case here.

$14–20/sfOffice Gross

7.5–9.0%Cap Rate

Scarth Street Mall

Pedestrian Retail · Food & Beverage

Regina's pedestrian-only retail street draws lunchtime government workers and downtown residents. Food, coffee, banking and specialty retail are the strongest performers. Ground-floor opportunity with government-driven daytime foot traffic.

$16–28/sfRetail Net

Gov'tFoot Traffic

Victoria Avenue Corridor

Hotel · Financial · Professional Services

Victoria Avenue is downtown's primary east-west arterial. Hotel brands, financial institutions, law firms and consulting groups occupy Class A and B space along this corridor. The Conexus Arts Centre and Convention Centre attract event-related hospitality demand.

$18–22/sfClass A Gross

HotelDemand

Core Fringe / Mixed-Use

Residential Above Retail · Conversion

The edges of downtown are experiencing gradual residential intensification with ground-floor commercial. Heritage building conversions offer boutique office and creative space at below-market rents. Growing evening population is improving restaurant and café viability.

$12–16/sfOffice Net

HeritageConversion

7.5–9.5%

Office Cap Rate

12–16%

Office Vacancy

$14–22

Office Gross /sf

Gov't

Primary Anchor

Downtown Regina Commercial Real Estate — Market Overview

Downtown Regina is Saskatchewan's primary government office market and the province's commercial and legal hub. The Government of Saskatchewan, Crown corporations and the professional services firms that serve them collectively occupy millions of square feet across the downtown core. Unlike many Canadian downtowns, Regina's office market has structural durability — government tenants sign long-term leases with strong covenant and do not vacate on short notice.

Office vacancy in the downtown core sits at 12–16% in 2025, reflecting both the structural overhang from private sector consolidation and the durability of government demand. Class A product along Victoria Avenue and 11th Avenue commands gross rents of $18–22/sf. Class B buildings suitable for smaller professional tenants lease at $14–18/sf gross. Government-tenanted buildings with long remaining lease terms trade at cap rates of 7.5–8.5% — among the most attractive government office yields in Western Canada.

Retail in the downtown core is anchored by Scarth Street's pedestrian mall format and the Victoria Square shopping area. The government worker lunchtime economy sustains food, beverage and service retail during weekdays. Evening and weekend retail is limited by the downtown's relatively small resident population, though residential densification projects are gradually improving the off-hours economy.

Asset Class	Submarket	Vacancy	Rent / Rate	Cap Rate
Office Class A	Victoria Ave / 11th Ave	10–14%	$18–22/sf gross	7.5–8.5%
Office Class B	Core-Wide	14–18%	$14–18/sf gross	8.5–9.5%
Retail	Scarth Street / Victoria Sq	8–12%	$16–28/sf net	6.0–7.5%
Hotel	Convention / Victoria Corridor	—	RevPAR-driven	7.0–8.5%
Mixed-Use	Core Fringe	Varies	$12–16/sf net	6.5–8.0%

Downtown Regina FAQ

Frequently Asked Questions — Downtown Regina Commercial Real Estate

What commercial real estate is available in Downtown Regina?

Downtown Regina offers Class A and B office space, government and Crown corporation tenancies, Scarth Street and Victoria Avenue retail, hotel and hospitality properties, and mixed-use ground-floor commercial. The downtown is the province's primary government office market. Contact Canada's Home Commercial for current availability.

What are office rents in Downtown Regina?

Downtown Regina office rents range from $14–22/sf gross for Class A and B space in 2025. Government and Crown corporation tenants anchor the market. Net rents for quality downtown product are $8–14/sf with TMI of $8–12/sf. Government-leased buildings typically have longer lease terms and more stable occupancy than private sector tenanted space.

What are office cap rates in Downtown Regina?

Downtown Regina office cap rates range from 7.5–9.5% in 2025. Government-tenanted buildings trade at the lower end (7.5–8.5%) due to covenant strength. Vacant or multi-tenant Class B properties trade at 8.5–9.5% reflecting higher management intensity and credit risk. These are among the most attractive government office yields available in Western Canada.

What retail is available on Scarth Street in Regina?

Scarth Street is Regina's pedestrian mall in the downtown core, offering ground-floor retail with government office worker daytime traffic. Rents range from $16–28/sf net for prime positions. Food, beverage and convenience-oriented retail performs best given the workforce demographics. Evening and weekend traffic is building as downtown residential intensification continues.

How do I lease or buy commercial space in Downtown Regina?

Contact Canada's Home Commercial for current Downtown Regina availability across office, retail, hotel and mixed-use asset classes. Our team specializes in Saskatchewan commercial real estate transactions for both tenants seeking space and investors seeking income-producing properties with government covenant.

Find Commercial Space in Downtown Regina

Government-tenanted office, Scarth Street retail or mixed-use development — our team knows every building in the downtown core.

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