• The St. John’s office market experienced 21,636 sq. ft. of negative absorption on the quarter.

• The overall vacancy rate increased 60 basis points (bps) up to 17.2% in Q1 2018.

• The downtown vacancy rate decreased 30 bps from Q4 2017’s reported 22.4% vacancy rate down to 22.1% on the quarter.

• Overall asking net rents decreased $0.07 per sq. ft. quarter-over-quarter down to $18.04 per sq. ft. in Q1 2018.

• Construction has started on a 100,000 sq. ft. office building this quarter in the suburban market. The property is expected to be completed in May 2019.