MDL Real Estate Income Fund GP Inc. has acquired Harbour Landing Business Park in Regina for $36.1 million, marking the city’s largest office sale so far this year.

Avison Young announced the sale of the fully occupied business park, which was sold by Harbour Landing Business Park Ltd. The property is located in a prominent southwest Regina location and is leased to a roster of AAA tenants.

Avison Young Associate Dale Griesser acted as exclusive advisor and agent for the vendor.

“The business park is a tremendous asset, giving MDL stable, growing cash flow from impeccable tenants, as well as the exciting option to further build on the remaining land,” said Griesser.

The complex, located at 4533, 4545 and 4581 Parliament Avenue, includes two three-storey office buildings, a free-standing drive-thru retail site occupied by Tim Hortons, ample parking, and more than one acre of land for future development.

Tenants at the property include the Saskatchewan Health Employees’ Pension Plan, Chartered Professional Accountants Saskatchewan, the Association of Professional Engineers and Geoscientists of Saskatchewan, SGI Canada, and the Saskatchewan Cancer Agency.

The property also benefits from proximity to Regina International Airport and Grasslands, a major retail, dining, and entertainment district. Harbour Landing Business Park is LEED Silver certified and BOMA Best certified.

Pictured: Harbour Landing Business Park in Regina.

Photo: Courtesy of Avison Young