Most listings are in the $30's per square foot per year. The Downtown West Palm Beach submarket is seeing a an increase in rates. In the last 3 months, the median rate increased $40 per sqft per year.
Compared to the rest of the West Palm Beach market, the Downtown West Palm Beach region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 38 listings have been listed, which means office spaces most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 76% of the available leases in the Downtown West Palm Beach are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 2,560 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are close to 6 floors. Most buildings in this region were built in 1956 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Utilities is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Downtown West Palm Beach residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.