The former Sears warehouse is still undergoing renovations but seven units are available now to lease as industrial warehouse space.
It’s marked progress for a building purchased just last year by Hungerford Properties. The area is now called Titan Business Park.
“We need to break this building down into several pieces. One tenant was not going to fit in this building in Regina. Moving forward, we are going to have multiple units,” Colliers International Vice President Glen Hill said.
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Sears still occupies part of the building it once filled. New to the property is Canature WaterGroup.
“It’s a game changer to us because we are able to operate more efficiently, but over the long term it will make quite a difference to our business,” Canature WaterGroup President & CEO Don Fettes said.
In addition, Titan Business Park is surround by 19 lots available for lease, sale parcels or build-to-suit.
The park will be managed by a condo association, like you would have with a residential dwelling. Landowners share costs like snow plowing, road maintenance and general upkeep.
“It’s new to the city of Regina, it’s been done across the country before but it’s going to allow for many savings for the end user, where we package together storm water and this and that,” Hill said.
Economic Development Regina Inc.’s Ash Kahn said it’s unusual for developers to find a space like this in the city.
“It helps us from an investment attraction perspective. If anybody from manufacturing wants to set up in Regina, they have this with good access to highways, so it’s a really big plus for Regina,” Kahn said.
The development comes at a crucial time, as some are pointing to a 2.5 per cent growth this year in Saskatchewan, led by the mining sector.
Manufacturing alone in Regina is worth 6 billion dollars, a number which makes the Titan Business Park worth looking at.