Highland Park Overview
Highland Park is an established north Regina community whose commercial nodes are distributed along Rochdale Boulevard and secondary arterials approaching the Ring Road. The district's commercial inventory serves a dual function: neighbourhood-scale retail serving the surrounding residential population, and flex-industrial and service-commercial properties catering to trade contractors, equipment operators, and agricultural service businesses that value Ring Road proximity for efficient city-wide mobility.
The neighbourhood's commercial character is pragmatic and value-oriented, offering below-downtown lease rates in well-located buildings with adequate parking and functional layouts. This combination attracts tenants priced out of Rochdale Boulevard's higher-rent corridor while still providing access to the north Regina trade area and Ring Road connectivity.
Key Commercial Corridors
Rochdale Boulevard forms the northern boundary of the Highland Park commercial zone, with the corridor's higher-profile retail uses including grocery-anchored plazas, quick-service restaurants, and auto services along this high-traffic east-west arterial. The Ring Road provides the eastern edge, with several industrial and service-commercial properties oriented toward Ring Road service roads to capture both local and through traffic.
Secondary roads including Dewdney Avenue provide north-south connectivity through Highland Park toward Exhibition and central Regina, linking the neighbourhood's commercial operators to the broader city market. Lewvan Drive to the west connects to the northwest communities, enabling Highland Park commercial tenants to serve a trade area that extends well beyond the immediate neighbourhood.
Asset Classes
Neighbourhood Plazas
Grocery-anchored and unanchored strip plazas on Rochdale Boulevard serving the daily convenience needs of Highland Park and surrounding north Regina residential areas.
Flex Industrial
Multi-tenant flex buildings from 1,500 to 8,000 sq ft per bay combining grade-level loading with front-office space, suited to service contractors and small distributors.
Auto & Trade Services
Automotive repair, HVAC, plumbing, and electrical contractor commercial spaces benefiting from Ring Road access and high-traffic arterial visibility in Highland Park.
Professional Office
Plaza-integrated and freestanding office suites for insurance, accounting, and government service organizations serving the north Regina residential community.
Investment Drivers
Highland Park's investment thesis centres on stable, value-oriented commercial income from an established north Regina residential base. The neighbourhood's maturity means limited land turnover but reliable tenancy from service businesses with strong community ties. Flex-industrial assets near the Ring Road benefit from the same logistics and contractor demand that drives the broader north and northwest Regina industrial market.
Cap rates for Highland Park neighbourhood commercial assets range from 6.50% to 7.75%, reflecting the older vintage of buildings and moderate growth prospects relative to high-growth suburban corridors. Value-add investors targeting plaza renovations and tenant improvement programs can achieve meaningful NOI growth given the gap between in-place rents and achievable market rates after modernization.
Development Pipeline
Highland Park's development pipeline includes a new multi-tenant flex-industrial complex on a Ring Road service road parcel, targeting contractor and distribution tenants seeking affordable space with city-wide truck access. A medical clinic expansion on Rochdale Boulevard is also under planning, responding to healthcare access gaps in the north Regina community. Limited available commercial land constrains speculative new retail development.