- What Credit Union Centre in Regina is on the market for $19.5m
- Why Credit Union Central of Saskatchewan is looking to offload the asset
- What next Colliers has the listing
The Credit Union Centre in downtown Regina is up for grabs at $19.5m.
The mixed office and retail building at 2055 Albert Street is owned by Credit Union Central of Saskatchewan, which operates as SaskCentral, a liquidity manager for Saskatchewan’s credit unions.
Spanning 158,000 sq ft, the midrise building was constructed in two phases, the first in 1976 and the second in 1992. The sale includes 196 parking spaces, behind the building at 2116 and 2064 McIntyre Street.
In addition to SaskCentral, tenants include Group Medical Services and a number of Government of Saskatchewan offices. The building is about 35% vacant.
Colliers is handling the sale of the building as well as various leasing opportunities, which are being marketed at $12/sq ft.
The property is at the intersection of two main throughways in downtown Regina, Albert Street and Victoria Avenue. It’s close to hotels and restaurants and is serviced by multiple public transit lines.
If the Credit Union Centre is sold at asking price, it would mark one of the highest-value transactions in Regina in 2024. Larger sales have taken place in recent years, however.
In April 2022, Cargill bought an industrial development site at 13020 Rotary Avenue for $38m from the Government of Saskatchewan, according to Green Street’s Sales Comps Database. And in March 2021, Skyline Apartment REIT sold an office building at 1920 College Avenue for $28.25m.
Credit Union Centre is available for immediate possession.
