Most listings are in the $30's per square foot per year. The Downtown West Palm Beach submarket is seeing a a boost in rates. In the last 3 months, the median rate increased $7 per sqft per year. That's a 26% increase in rent.
Compared to the rest of the West Palm Beach market, the Downtown West Palm Beach region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 40 listings have come on the market, which means office spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. 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 2,490 sqft. Most buildings in this region are approximately 6 stories. Most buildings in this area were built in 1982 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find 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.