West Palm Beach office market reports

Q2 2023

West Palm Beach's office rental rates have soared in the past five years, driven by a robust labor market and a favorable business environment. Downtown West Palm Beach commands the highest average asking rent at $81 per square foot. Smaller office leases, under 10,000 square feet (sf), have experienced a significant uptick in leasing activity, accounting for 77% of all leases signed, as companies embrace hybrid work models.

$52.32 psf

Asking rent

In the last five years, West Palm Beach has witnessed substantial growth in office rental rates across various submarkets, particularly Downtown West Palm Beach and West Palm Beach, each boasting an 85% rental increase.

900k sf

Sublease availability

Sublease availability is increasing in West Palm Beach, primarily stemming from class A and B buildings.


Leasing activity

West Palm Beach's office market experienced the most significant surge in leasing activity for spaces under 10,000 sf, making a remarkable 23% increase from pre-pandemic levels.

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Your source for the latest West Palm Beach office market reports

Get in-depth office market reports from commercial real estate experts in the Greater West Palm Beach area. Avison Young advisors look at West Palm Beach commercial real estate activities and the latest West Palm Beach statistics to provide you expert market research on West Palm Beach's office properties.

Explore different topics like the latest office market pricing trends and analysis of West Palm Beach's current office real estate market conditions. Gain a better understanding of West Palm Beach’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in West Palm Beach's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in West Palm Beach.

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