Shrinking availability and steady demand in store for West Palm Beach’s office market

graph of class A/trophy office property availability versus class B office space availability in West Palm Beach's submarkets in 2024 compared to 2020
  • The West Palm Beach office market has seen a 70-basis point drop in total availability since 2020 and has delivered 815,705 square feet of new office inventory during the same period.
  • Of the submarkets in the area, Downtown West Palm Beach experienced the largest contraction of available office space by 28.7% within trophy and class A assets since 2020, as top-quality product remains in high demand.
  • The Boca Raton submarket was the only submarket in West Palm Beach to see an increase in availability during this same period in both class types, increasing 9.8% in class A and trophy assets and 4.5% in class B assets.

May 29, 2024

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