Queen's Park Industrial Overview
Queen's Park is one of Regina's established north-side industrial districts, situated north of Dewdney Avenue between Broad Street and Lewvan Drive. Developed primarily in the 1960s through 1980s, the park hosts a diverse mix of manufacturing, food processing, distribution, and trade-related businesses that form the backbone of Regina's small and medium industrial economy. The proximity to CP Rail's sprawling north Regina yards has historically made Queen's Park attractive to freight-dependent users in the agricultural equipment, grain handling supply, and food processing sectors.
While newer industrial parks in east Regina — including the Eastgate and Quance East areas — have captured build-to-suit demand from larger logistics users, Queen's Park continues to attract value-seeking industrial tenants who benefit from its established infrastructure, central north Regina location, and lower base rents compared to new construction. Several properties in the park have undergone selective renovation to upgrade electrical capacity, add dock loading, and modernize office components, extending the useful life of the industrial stock for a new generation of tenants.
Key Commercial Corridors
Dewdney Avenue forms the southern boundary of the Queen's Park industrial area, providing the primary access point for trucks and connecting the park to both the downtown core to the east and Lewvan Drive to the west. Industrial streets within the park — including Park Street and neighbouring industrial roads — are laid out on a grid that allows efficient truck circulation and provides a range of lot sizes from half-acre contractor yards to multi-acre manufacturing sites.
Broad Street's northern extension provides access to Dewdney Avenue from the east, connecting Queen's Park to downtown Regina's commercial services in under ten minutes. The CP Rail intermodal yard immediately adjacent to the district allows tenants requiring rail access for inbound materials — including construction products, agricultural inputs, and food manufacturing ingredients — to arrange direct rail-side delivery or short-haul truck from the yard to their facilities.
Asset Classes
Manufacturing Buildings
Older vintage manufacturing facilities from 5,000–60,000 sq ft with heavy power, drive-in and dock loading, and significant yard areas for staging.
Mid-Bay Warehouse
Standard-height warehouses from 3,000–20,000 sq ft, suitable for distribution, storage, and trade service users. Lease rates $9–$12/sf net.
Flex Industrial
Renovated flex units with improved office, upgraded electrical, and drive-in access catering to contractors, light manufacturers, and service trade businesses.
Industrial Land / Yards
Fenced and graveled contractor yards with basic power, suitable for equipment storage, material staging, and open-air operations. Competitive land lease rates.
Investment Drivers
Queen's Park investment is driven by the durability of Saskatchewan's small and medium industrial sector, rooted in agriculture, construction, and resource supply chains. The park's long-tenured occupants — many of whom have operated from the same buildings for decades — provide stable income with low turnover. Value-add investors have found success purchasing older buildings, investing in targeted capital improvements, and re-leasing at higher rates to a younger generation of trade and industrial tenants.
Cap rates in Queen's Park typically range from 7.0–8.5% for older vintage product requiring capital, compressing to 6.25–7.25% for renovated buildings with newer leases and improved mechanical systems. The park's central north Regina location — closer to the labour force in north Regina's residential communities than newer east-side parks — is a retention factor that reduces vacancy risk for long-term hold investors.
Development Pipeline
Significant new development in Queen's Park is limited by the park's established lot structure and the preference of larger new-construction users for eastern Regina's greenfield industrial sites. However, selective demolition and rebuild of the oldest properties is occurring where site configurations allow modern industrial formats. The City of Regina's industrial land strategy recognizes Queen's Park as a priority for infill intensification, with planning support for secondary suite industrial uses and higher-density small-bay formats on existing parcels.