The typical asking rate per listing is in the $30's per square foot per year. The Downtown West Palm Beach submarket is experiencing a a rise in rates. In the last 3 months, the median rate increased $11 per sqft per year. That's a 40% rise in rent.
Compared to the rest of the West Palm Beach market, the Downtown West Palm Beach region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 38 listings have been made available, which means new availabilities might be going fast. You'll want to be prepared to make an offer immediately. About 3% of the office spaces in the Downtown West Palm Beach are subleases, so you will probably have to consider a longer term lease. 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 1,600 sqft. Most buildings in this region are close to 6 floors. Most buildings in this market 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 folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.