The typical asking rate per listing is in the $60's per square foot per year. The Palm Beach submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 8% decrease in rent.
Compared to the rest of the Palm Beach market, the Palm Beach submarket has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 28 listings have come on the market, which means new availabilities might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 46% of the available leases in the 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 530 sqft. Most buildings in this region are close to 3 floors. Most buildings in this area were built in 1973 and are Class B.