Fredericton Office Figures Q2 2025

–       Net asking rates increased across the market this quarter, rising $0.15 to $15.45 per sq. ft. The downtown submarket witnessed net asking rates increase throughout the quarter, growing $0.20 to $15.91 per sq. ft. The suburban submarket recorded no growth over the quarter, remaining constant at $14.84 per sq. ft.

–       Fredericton continues to see positive leasing momentum, recording 26,418 sq. ft. of positive net absorption across the market. The downtown submarket led the way in leasing activity over the quarter, reporting 20,418 sq. ft. of positive net absorption while the suburban submarket saw 6,000 sq. ft. of positive net absorption.

–       The vacancy rate decreased 110 basis points (bps) quarter-over-quarter to 14.6% across the market. The downtown submarket saw vacancy decrease 150 bps to 12.9% while the suburban submarket held flat at 17.2%.