Q3 2018 Palm Beach Office Market Report
Date Published: 10/22/2018
Palm Beach’s office market activity has remained stable in the third quarter of 2018. The vacancy rate for office space in Palm Beach County currently stands at 10.8 percent, a 20-basis point increase year-over-year. Office vacancy rates have hovered around 11 percent since the beginning of 2017 with scarce new product added to the market. Rental rates in Palm Beach County remain healthy and currently stand at $29.91 per square foot, a 3 percent increase year-over-year. Class A rates have continued to grow in 2018, currently averaging $35.17 per square foot, a 2 percent increase year-over-year.