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Three of the four buildings at Harbour Landing Business Park in suburban Regina have been sold to MDL Real Estate Income Fund GP Inc. for $36.1 million in the city’s largest office transaction thus far in 2026.
The Harbour Landing property, previously owned by Harbour Landing Business Park Ltd., comprises two lowrise office buildings plus a retail building at 4533, 4545 and 4581 Parliament Ave. in the Saskatchewan capital.
The transaction was brokered by Avison Young’s Dale Griesser.
“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,” Griesser said in the announcement.
In response to a query from RENX, Griesser noted the timing of the sale coincides with slow but steady improvement in the city’s office leasing market.
“Regina is following the national trend of positive office absorption, with a current vacancy rate of 13.5 per cent for the first quarter of 2026,” he wrote in an emailed reply.
The Harbour Landing property
4581 Parliament was constructed in 2012 and comprises 38,792 feet of space on just over two acres. 4545 Parliament offers 41,535 square feet of leasable space and sits on 2.33 acres. Combined, they have 264 dedicated parking spaces.
The retail building was completed in 2016 and offers 2,651 square feet of space plus outdoor parking.
A fourth building on the block, which bisects the other sites, is not included in the sale.
The complex is fully occupied by “highly desirable, AAA tenants” the announcement states. Among them are the Saskatchewan Health Employees’ Pension Plan, Chartered Professional Accountants Saskatchewan, the Association of Professional Engineers and Geoscientists of Saskatchewan, SGI Canada and Saskatchewan Cancer Agency.
Tim Horton’s occupies the stand-alone retail building on the property, which also offers parking for the businesses and an acre of potential future development land.
The largest buildings on the property are the two, three-storey office buildings.
Harbour Landing’s location is attractive because of its proximity to the Regina International Airport, and access to a major arterial road which connects to public transit and to Grasslands – one of the city’s major retail shopping, dining and entertainment destinations.
It is also LEED Silver certified and BOMA Best certified.
MDL Real Estate Income Fund GP was founded in 2021 is headed by CEO Mitch Molnar, who has been the longtime president and CEO of Mitchell Developments. The fund holds a portfolio of retail and office properties focused in the province.
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