Neighbourhood Overview
The Highland commercial submarket is centred on Highland Park in north Regina, one of the city's established residential communities north of the downtown core. The area's commercial activity follows Albert Street and the cross-arterials connecting Highland Park to the broader north Regina commercial network. Commercial properties in the submarket include neighbourhood strip plazas, medical and professional office buildings, and freestanding service commercial on arterial frontage, serving Highland Park and adjacent communities including Sherwood Estates and Uplands.
Office lease rates in the Highland submarket run $18–22 per sq ft net, while retail achieves $22–28 net. The submarket's vacancy of 6–9% reflects consistent demand from medical, professional service, and neighbourhood retail tenants serving Highland Park's established residential population. The area's north Regina location and Albert Street frontage provide strong commercial accessibility for both neighbourhood and arterial commercial operators.
Key Commercial Corridors
Albert Street is the defining commercial artery for the Highland submarket, providing continuous north-south commercial frontage through north Regina that connects Highland Park to the downtown core in the south and to the north city limits and Ring Road in the north. Commercial development along Albert Street in the Highland area reflects the mature suburban strip commercial format typical of established Regina arterial corridors.
Secondary commercial activity extends along the cross-arterials and collector roads connecting Highland Park to the arterial commercial network. Medical and professional commercial clusters at key intersections serve the immediate Highland Park residential population and draw patients and clients from the broader north Regina catchment, benefiting from Albert Street access and the area's central north Regina location.
Asset Classes
Arterial Strip Retail
National and regional retail, QSR, pharmacy on Albert Street. $22–28 net.
Medical & Professional Office
Family practice, dental, specialist, financial advisory. $18–22 net.
Service Commercial
Automotive, personal services, convenience on arterial and collector frontage.
Neighbourhood Convenience
Day-to-day convenience and food retail for Highland Park residents.
Investment Drivers
Highland commercial real estate provides stable corridor and neighbourhood commercial investment along Albert Street, one of Regina's primary commercial arterials. The submarket's north Regina residential catchment, consistent tenant demand, and Albert Street traffic volumes deliver reliable investment performance.
Cap rates for Highland neighbourhood commercial assets typically range from 6.5–8.5%. Albert Street frontage properties command premiums for high traffic volume and visibility. Value-add opportunities exist in older strip commercial buildings where renovation and re-tenanting to medical or professional uses can improve rents.