Moncton Office Figures Q3 2022
November 29, 2022
‒ The Moncton office market recorded 6,853 sq. ft. of positive net absorption in Q3 2022.
‒ The vacancy rate within the Moncton office market decreased 10 basis points (bps) quarter-over-quarter to 15.4% with 556,170 sq. ft. currently available
‒ Average net rental rates in Moncton increased by $0.07 to $12.67 per sq. ft. overall this quarter. Taxes and operating costs sit at $9.44 per sq. ft. in Q3 2022.
‒ Despite recent economic challenges, Moncton’s population grew by 3,000 people annually from 2019-2021, with the majority of newcomers in the region being under the age of 30.