Neighbourhood Overview
The Hillsdale South commercial submarket occupies south-central Regina, centred on the Hillsdale neighbourhood and serving the broader south Regina residential corridor including Whitmore Park, Gardiner Park, and adjacent communities. The area's commercial activity follows McCarthy Boulevard and the south arterials, with neighbourhood commercial nodes providing retail, medical, and professional services to a large and established south Regina residential population. Hillsdale South's proximity to Wascana Centre and the University of Regina adds a cultural and institutional dimension to the commercial catchment.
Retail lease rates in the Hillsdale South submarket run $22–28 per sq ft net, while professional and medical office achieves $18–22 net. The submarket's vacancy of 6–9% reflects consistent demand from medical and professional tenants who value the south Regina location, proximity to Wascana Centre and the university, and the established residential catchment of the south residential corridor. The area's institutional proximity drives demand for professional services, financial advisory, and specialist medical uses.
Key Commercial Corridors
McCarthy Boulevard is the primary north-south arterial for the Hillsdale South submarket, connecting the south residential communities to downtown Regina and providing commercial frontage for neighbourhood retail, medical, and professional office uses. The McCarthy Boulevard corridor through Hillsdale South supports a mix of neighbourhood strip commercial and professional office buildings that serve both the immediate residential population and clients from the broader south Regina catchment.
Wascana Parkway and the south arterials connecting Hillsdale to Ring Road and Victoria Avenue provide additional commercial access and define the boundaries of the south residential commercial corridor. The proximity to the University of Regina generates consistent professional and service commercial demand from the university community, supplementing the neighbourhood residential commercial base of the Hillsdale South submarket.
Asset Classes
Neighbourhood Strip Retail
Pharmacy, QSR, personal services, convenience on McCarthy Boulevard. $22–28 net.
Medical & Professional Office
Family practice, dental, specialist, university-adjacent professional. $18–22 net.
University-Proximity Services
Student services, tutoring, specialty retail adjacent to U of R.
Wascana-Adjacent Commercial
Professional and recreational services near Wascana Centre park corridor.
Investment Drivers
Hillsdale South commercial real estate benefits from a strong south Regina residential catchment, proximity to Wascana Centre and the University of Regina, and consistent demand from medical and professional tenants seeking south Regina commercial space. The area's institutional adjacency provides a differentiated commercial investment environment relative to purely residential suburban commercial locations.
Cap rates for Hillsdale South neighbourhood commercial assets typically range from 6.5–8%. Medical and professional office buildings in the submarket command premiums for their quality tenancy and institutional proximity. The area's south Regina location and access to both Ring Road and downtown via McCarthy Boulevard provide a practical and accessible commercial environment for long-term commercial investment.