Demand for office space in New Brunswick’s three largest cities has shown varied trends over the past year.
A new report from real estate consulting firm Turner Drake & Partners shows office vacancy rates on the rise in two of those cities.
The vacancy rate in Saint John shot up more than six percentage points to 29.82 per cent in June.
Moncton also saw its vacancy rate increase by just over one percentage point to 13.77 per cent.
In Fredericton, the office vacancy rate fell by nearly three-and-a-half percentage points to 11.65 per cent.
The cheapest place to rent office space is Saint John, where the average net rental rate sits at $13.72 per square foot.
That rate increases to $14.69 per square foot in Moncton and $14.89 per square foot in Fredericton.
