Sears Warehouse on Ring Road Demolished to Make Way for New Business Park

Regina, September 13, 2016 – Hungerford Properties has just acquired 33 acres in the industrial heart of Regina in one of the biggest industrial deals in the city’s recent history. Over the coming year, the Vancouver-based development company will be transforming the iconic Sears warehouse into a new business park development between Park Street and Ring Road. The redevelopment, called Titan Business Park, will see the refurbishment of 176,000 SF space into modern, Class A warehouse space for the industrial sector.  

This week, demolition will commence to a portion of the old Sears warehouse and construction will begin to refurbish the existing warehouse. “This is a once-in-a-lifetime opportunity for a large redevelopment, particularly for businesses looking for large warehouse space within the city,” says Collier’s International Glen Hill. “Because of the prime location, access and visibility, this new business park is going to attract and accommodate all sorts of users. It’s good news for businesses in this city who have struggled for years to find large, quality warehouse space as well as land inside the Ring Road.”

The newly refurbished, state-of-the-art warehouse will be leased to a single user or demised for multiple tenants. Additional dock doors are being added to an already high-quality, well-maintained building with skylights, 26 foot clear ceiling heights, extensive glazing and a high capacity floor load, features rarely seen in the Regina market. Flexible bay sizes will start at 12,000 SF, with space available up to 176,000 SF, each with multiple dock loading doors and an office component. 

“We are excited to offer what has been missing in Regina for a long time – larger warehouse space for growing companies,” says Michael Hungerford, whose company has a proven track record developing and transforming industrial parks across Western Canada into vibrant, new business hubs. “It’s a highly desired, triple-A location inside the Ring Road, close to retail and major highways. Our investment in Titan Business Park will transform an iconic building into a new business centre.” 

The 33-acre site will also have 22 acres of excess land to be offered as build to suit, lease or sale in 1 - 10 acre parcels, providing some respite from years of limited industrial land supply in the city. The end result will be a new business park and an exciting opportunity for businesses to take advantage of the site’s excellent location, quality and flexibility.

“Titan Business Park will bring new businesses and vibrancy into the area and create a legacy for the future economic health of the city,” says Hill. “It’s going to be a major player for the next few years and will spur additional industrial growth because of the sudden availability of land in such a desirable area.” 

Approximately 96 - 98% of the high bay warehouse will be recycled, with nearly all the concrete being recycled and re-used on site. All the steel, copper and cast iron will be recycled off-site. That means almost all the material from the demotion will be diverted from the landfill. 
 
The new business park, at 855 Park Street, is now available for lease. In addition to leasing opportunities in the existing building, there are also land lots for sale and build to suit opportunities on the excess land. Regina residents can look forward to future announcements in the coming months. 

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