A scarcity of trophy office space ignites a surge in asking rates in West Palm Beach
- Since the start of the pandemic, West Palm Beach has witnessed a substantial decline in trophy office availability, which has further fueled a continued rise in asking rates by an impressive $39 per square foot (psf).
- The office outlook indicates limited availability of trophy inventory, with 604,320 square feet under construction and only 41% of it remaining available.
- Consequently, with occupier demand gravitating toward premier buildings, rental rates are anticipated to maintain their all-time highs for the foreseeable future.
US-FL-WPB West Palm Beach