Figures

Palm Beach Office Figures - Q1 2024

April 9, 2024 5 Minute Read

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  • Annual rent growth remains strong at 7.9%, increasing from $31.55 to $34.03 PSF. Overall, rent have increased 41.3% in 5 years, rising from $24.09 PSF.
  • Following 343K SF of negative absorption in the first three quarters in 2023, Q4 2023 and Q1 2024 saw combined positive absorption of 115K SF.
  • Driven by the vacancy of several large spaces in North Boca, South Palm Beach County has elevated availability compared with North Palm Beach County.