Figures

Fredericton Office Figures Q2 2026

Vacancy reaches a six-year low

July 23, 2026 5 Minute Read

Overall net asking rates increased across the market, rising $0.59 to $16.15 per sq. ft in the first half of 2026. The suburban submarket witnessed the highest level of growth, seeing a $0.97 increase to $16.32 per sq. ft. since year-end 2025.
Class A and B assets continue to demand higher rents, reinforcing the flight to quality that can be seen across the country.
Fredericton continues to see positive leasing momentum, recording 20,000 sq. ft. of positive net absorption across the market during Q2. The suburban submarket led the way in leasing activity over the quarter, reporting 22,000 sq. ft. of positive net absorption while the downtown submarket saw 1,800 sq. ft. of negative net absorption.
The vacancy rate decreased 50 basis points (bps) quarter-over-quarter to 12.4% across the market, the lowest vacancy rate since Q3 2020. The downtown submarket saw vacancy increase slightly by 10 bps to 11.1% while the suburban submarket recorded a 120 bps reduction in vacancy to 13.9%.