Avison Young in Moncton
Moncton is well known as the hub of the Maritime Provinces in Canada. With its strategic geographic position in the centre of the Atlantic Trade Gateway and advanced infrastructure, the Moncton region has become a transportation and distribution hub for road, rail and air cargo. Moncton also continues to see growth in its technology-based sectors while serving as home to many world-class firms in gaming technologies, knowledge industries and advanced manufacturing. The city also boasts one of the most successful back-office clusters in Canada, featuring such leading companies as UPS, FedEx, Purolator Courier, Royal Bank of Canada, Camco and ExxonMobil. Multinational firms are attracted to Moncton because of its low business costs, modern business/industrial parks, rapidly growing airport, three universities and other post-secondary institutions.
Avison Young’s Moncton location has strong transportation and manufacturing related partnerships with the Halifax office.
Moncton is located at the hub of the Maritime Provinces in the centre of the Atlantic Trade Gateway, which has strategically been a benefit to the region in becoming a transportation and distribution center for most means of transport. Advanced transportation infrastructure, combined with a competitive cost environment, has supported the growth of the region’s manufacturing, retail, tourism and service sectors.
Moncton is home to a number of world-class firms in gaming technologies, knowledge industries and advanced manufacturing. Moncton’s back office cluster is one of the most successful in Canada. It was ranked by KPMG as the lowest-cost location for business in Canada (2014). The city features four of Atlantic Canada’s top business/industrial park campuses and offers one of the fastest-growing international airports in Canada (passenger and cargo). Moncton offers a dynamic and growing downtown core with multiple available development opportunities. Moncton has an attractive and functional main street with a large inventory of historic buildings.
The city has a diverse, rapidly-expanding and highly-educated population thanks to a number of accessible post-secondary institutions. This has led to a robust commercial real estate market. Over the past decade, office, retail, industrial and investment sectors have all displayed growth even in the face of economic challenges brought on by a reduction in public sector capital spending and fiscal restraint.
Private-sector services including finance, insurance, real estate and wholesale trade will continue to be the foundation of growth. Office vacancy rate in Moncton remains relatively stable.
Retail continues to remain solid with the Wheeler Park Power Centre being the strongest retail sector in the Moncton area. Recent announcements include Cabela’s new 50,000-square-foot store located near the intersection of the Mapleton Parkway and Trans-Canada Highway, and Bass Pro Shops’ 110,000-square-foot store at Champlain Place.
Moncton’s two main industrial parks are the most successful in New Brunswick. Moncton Industrial Park and the new Moncton Industrial Park West are on the west side, and Caledonia Industrial Estates is on the northeast side. The Kent Distribution Centre and RTD-TriCanx were recently completed along with a number of smaller industrial buildings. The new Maritime-Ontario trucking distribution centre is now under construction on the Barry Mills Road just outside the city limits.
New Brunswick’s active investment market is largely limited to the cities of Saint John, Fredericton and Moncton. New Brunswick has seen interest from investment syndicates and institutional buyers alike. New Brunswick, similarly to the rest of Atlantic Canada, provides for stable investment due to the diverse economy.