Office Building Statistics – Q4 2018
Highlights and Statistics on Real Estate Trends in Atlantic Canada
Download our Q4 2018 Office Stats to get highlights on real estate trends in Atlantic Canada.
Net effective rates have been increasing slightly due to the rising cost of constructing leasehold improvements. Landlords are seeking longer lease terms to allow longer amortization of leasehold costs.Overview:
- Many existing Class A and B buildings in the downtown markets are undergoing capital improvements in an effort to keep the buildings competitive and attractive to tenants.
- Downtown landlords’ with the higher office vacancy rates are considering higher allowances to compete for tenants either renewing or negotiating new leases.
- Greater Moncton is the Atlantic anomaly with the downtown office vacancy rate hovering at 5% and its suburban rate in the high teens.
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Last updated on September 4th, 2019 at 03:09 pm