• In Q3 2019, the St. John’s office market experienced 1,233 sq. ft. of negative net absorption.

• Overall office vacancy remained at 16.9% in Q3 2019. 

• The vacancy rate in the CBD recorded an increase of 20 basis points (bps) quarter-over-quarter to 20.9%, while suburban vacancy fell by 20 bps on the quarter down to 13.2%.

• Overall average net rents increased $0.06 per sq. ft. quarter-over-quarter up to $17.93 per sq. ft., with average operating costs and taxes holding steady at $11.44 per sq. ft.