• The overall vacancy rate decreased 70 basis points (bps) quarter-over-quarter down to 21.6% in Q1 2018. Saint John continues to maintain the highest office vacancy in New Brunswick through Q1 2018.

• Class A buildings saw the vacancy rate decrease on the quarter.

• The market experienced 10,637 sq. ft. of positive absorption in Q1 2018.

• Class B buildings have the most inventory and the highest vacancy rate in the Saint John office market.

• Average net rents dropped in Class B assets, in an attempt to stimulate leasing activity.