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Office rental vacancy rate up in Saint John

By Brad Perry Feb 16, 2024 | 1:19 PM

Saint John’s office vacancy rate remains the highest among New Brunswick’s three largest cities.

That is according to the latest Rental Market Survey released by Turner Drake & Partners.

It found 24.81 per cent of rental office space was vacant in December, up from 20.79 per cent one year earlier.

That is compared to a vacancy rate of 17.63 per cent in Fredericton (down from 18.38 per cent) and 14.31 per cent in Moncton (down from 14.82 per cent).

When it comes to rental prices, Saint John is the lowest with a net rate of $13.73 per square foot.

It was $14.02 per square foot in Moncton and $14.57 per square foot in Fredericton, according to the survey.