Most listings are in the $30's per square foot per year. The Downtown West Palm Beach region is seeing a decline in rates. In the last 3 months, the median rate fell $7 per sqft per year. That's a 17% decline in rent.
Compared to the rest of the West Palm Beach market, the Downtown West Palm Beach region has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 38 listings have been made available, which means leases most likley are going fast. You'll want to be prepared to make an offer immediately. About 87% of the available space 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 1,670 sqft. Most properties in this market are approximately 5 stories. Most buildings in this region 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 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.