West Palm Beach office market reports

Q4 2024

In the fourth quarter, West Palm Beach office vacancy rates rose by 150 basis points year over year, mostly due to the delivery of over 370,000 square feet of new office space throughout the year. Office investment activity experienced a slight decrease of 9% year over year in 2024, reaching $268 million in sales volume.
14.1%

Vacancy rate

Office vacancy rates have risen by 150 basis points year over year, primarily driven by the 2024 delivery of over 370,000 square feet of new office space.

$49.08 psf FS

Average asking rents

Asking rates remained unchanged year over year for the first time since the pandemic surge. 

-90,807 sf

Net absorption

Office net absorption reached -90,807 square feet for 2024 but is anticipated to turn positive in 2025 as tenants move into newly delivered office buildings.

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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