Retail Development Site in Regina, Saskatchewan

Description

Address

Tower Rd & Eastgate Dr, Pilot Butte, Saskatchewan S0G 3Z0, Canada

The Opportunity

To acquire and develop a 180 acre (subdividable) brown field site along Trans-Canada Highway in East Regina, Saskatchewan. Regina’s most affluent trade area is prime for this landmark 1.2 million square feet mixed-use project.

Location Highlights

Located in East Regina along the Trans-Canada Highway (HWY 1), which connects Regina’s 237,758 residents (2014 Statistics Canada), both to the east and west with the rest of Saskatchewan’s 1.14 million residents. Commercial real estate experts acknowledge this East Victoria Avenue retail area (2.8 million square feet), as a key Regional location, known as “ground zero” for retail in the Province of Saskatchewan.

Investment Highlights

• Proposed Plan of Subdivision approved by the City of Regina.
• Traditional design is highly coveted by these blue chip retailers:
• Large format, wholesale retailer wants to grow their Regina presence on 17 acres; their purchase to include a gas bar with improved customer eight lane site access (five in-lanes coupled with three out-lanes);
• National fashion and home furnishings retailer interested in 85,000 square feet;
• Top-tier national entertainment company interested in new 60,000 square foot location;
• National grocery retailer interested in purchasing eight acres;
• Small format retailers and fast food outlets have been submitting offers to ensure they are a part of this opportunity.
• A retail study conducted by a leading analyst concluded that based on population and income growth forecasts for areas surrounding the Tower Crossing site, the trade area will grow to 50,000 by 2024, generating an estimated $982.6 million in retail spending. This equates to an estimated growth in retail floorspace demand of over 1.93 million square feet over the next eight years. Phase I of Tower Crossing is already approved for up to 1.1 million square feet to accommodate this demand.