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Date Entered: 07/24/2019
Subject: 2019June St. Johnís Office Market Survey
Attachment: 207.pdf (Original file name: Synopsis June 2019 St Johns IOF.pdf)
Comment:

The office vacancy rate in St. John’s dropped slightly year over year, and now sits at 17.64% overall, down from 19.93% a year ago.  The St. John’s market is broken down into 5 submarkets: three of them, including the St. John’s Central Business District (CBD), enjoyed falling vacancy between June 2018 and June 2019, whilst the other two saw increases.  This marks the first year of vacancy decline after three straight years of increases in the city, which had a balanced market as recently as 2015, indicated by a vacancy rate of 4.76% at that time.  To learn more, click on the attachment and view this PDF document using an Acrobat Reader Plug-in (available as a free download from the Adobe Web Site, www.adobe.com ).

Market Surveys is a free service provided by Turner Drake & Partners Ltd. to landlords, tenants, investors and property developers in Atlantic Canada.  The Market Surveys are the most comprehensive ever conducted in the region and cover 30 million square feet of space in over 600 office and warehouse buildings in H.R.M., Moncton, Saint John, Fredericton, Charlottetown and St. John’s.  Market Surveys are archived on the public area of our web site at www.turnerdrake.com/newsresearch/surveys.asp

The full results of our survey are available for purchase on a one-off or subscription basis. These include a wealth of detailed aggregate and building-specific market information on rental rates, property taxes and operating expenses, vacancy and absorption rates, and building amenities.  To purchase or subscribe, please contact Alexandra Baird Allen at 902-429-1811 or abairdallen@turnerdrake.com.