Most listings are in the $30's per square foot per year. The Downtown West Palm Beach submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $7 per sqft per year. That's a 17% decrease in rent.
Compared to the rest of the West Palm Beach market, the Downtown West Palm Beach submarket has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 38 listings have come on the market, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 87% 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.
The standard measurement for office space in this area is around 1,670 sqft. Most buildings in this area are close to 5 stories. Most buildings in this area were built in 1956 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Utilities is the dominant industry in this market. 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.