Fredericton Office Figures Q3 2022

November 28, 2022

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‒ The Fredericton office market recorded 2,928 sq. ft. of positive net absorption in Q3 2022.

‒ Vacancy rates within the Fredericton office decreased marginally by 10 basis points (bps) quarter-over-quarter to 14.9%.

‒ Average net rental rates in Fredericton increased $0.07 per sq. ft. to $13.68 per sq. ft. Taxes and operating costs increased to $12.90 per sq. ft.

‒ The unemployment rate decreased to 7.1% in Q3 2022, as well as a 220 bps year-over-year decline from 9.3%.