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Moncton's commercial real estate market turned sluggish at the end of 2008, with the slowdown expected to continue through the first two quarters of 2009. In the office sector, new tenants to the market were more plentiful than expanding existing tenants. The overal office vacancy rate rose two-tenths of a point to 9.7%. The industrial sector remained very robust during the last half of 2008. New inventory came to market, including a new multi-tenant facility in Caledonia Industrial Estates. Positive absorption of over 200,000 square feet was recorded with the overall industrial vacancy rate dropping over a full percentage point to 6.3%. The forecast is for a softer market during the first half of 2009 with more robust trading taking place the last half of the year.
Contact Pam Macfarlane at 902.423.1825 for more information.
  M_Dec08.pdf
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