Moncton Industrial Figures Q3 2022

November 28, 2022

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‒The Moncton industrial market recorded 67,771 sq. ft. of positive net absorption in Q3 2022.

‒The availability rate within the Moncton industrial market decreased 60 basis points (bps) down to 1.9%.

‒ Construction is underway for multiple projects which are set to add 558,397 sq. ft. of multi-tenant and owner-occupied space to the market across Q4 2022 and 2023.

‒ Phase I for both 1275 Aviation Avenue, previously 1145 Aviation Avenue, and 300 Price Street have completed construction adding a total of 80,397 sq. ft. of multi-tenant space to the market. Phase II of 1275 Aviation Avenue and 300 Price Street started construction, with both projects aiming to be delivered by Q4 2023.

‒ The Moncton industrial market’s average net rental rate increased $0.13 to $7.73 per sq. ft. in Q3 2022. Average taxes and operating costs increased to $4.63 per sq. ft.