Most listings are in the $30's per square foot per year. The Downtown West Palm Beach region is experiencing a decrease in rates. In the last 3 months, the median rate fell $0 per sqft per year. That's a 1% decline in rent.
Compared to the rest of the West Palm Beach market, the Downtown West Palm Beach submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 38 listings have been posted online, which means new availabilities are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 84% of the listings 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 on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,600 sqft. Most properties in this market are approximately 5 floors. Most buildings in this area were built in 1956 and are Class A.
A large portion of this region 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 occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.