R2 Capital Achieves a 100% Occupied Office Building Despite Market Vacancy Of 25%
Saint John, NB, 31st August 2024, ZEX PR WIRE, R2 Capital is proud to announce that our property in Saint John, 75 Prince William St. a 35,033 sq ft office building has achieved full occupancy. This milestone is a testament to our strong leasing team and their commitment to providing top-tier environments for our tenants.
In the past 12 months, we have successfully renewed and signed new leases for 85% of the building’s occupancy, reflecting a robust confidence in our property. The Weighted Average Lease Term (WALT) now stands at 4.7 years, underscoring the long-term commitment of our tenants. Additionally, we have seen a 21% average increase in lease rates for those who renewed their leases, highlighting the growing value of this prime location.
Spencer Riche, Co-founder of R2 Capital,...