The overall office vacancy rate in each of Fredericton, Moncton, and Saint John rose year-over-year, spurred by increasing inventory outpacing increasing demand. The office vacancy rate for Saint John increased 4.05 percentage points from 2019, finishing December 2020 at 18.16%. Moncton had a vacancy rate of 12.84%, up from 7.96% a year prior. Fredericton has the province’s lowest office vacancy, with a rate of 9.74%, 3.19 percentage points up from the year before. This is also the lowest rate amongst the five major Atlantic Canadian cities in the December survey. 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.
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