NAVIGATION

July 26, 2016

Commercial Real Estate

Regional Snapshots - Palm Beach County

Mike Vogel | 9/8/2012

Four New York area hedge funds, anticipating higher taxes, relocated to Palm Beach and West Palm Beach this year. A high vacancy rate and distressed assets continue to pressure rents in the office, industrial and retail sectors. Meanwhile, the Glades Road area in Boca Raton went from 72% occupied to 90% in 18 months — “the quickest to recover,” says Mark Pateman of Cushman & Wakefield.

New construction is scarce, but the Flagler Center, which Pateman represents, completed a $2-million renovation. Industrial developer IDI has a joint venture with sugar company Florida Crystals to build an inland port in the west county.

Sector Vacancy Rent (per sq. ft.)
Office 25.7% $27.27
Industrial 9.6 6.44
Retail 8.4 17.75
» 1-Year Employment Change +5,700 jobs (+1.1%)

Tags: Southeast, Real Estate, Commercial Real Estate, Regional Snapshots

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single digital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

The Digital Economy and The Changing Supply Chain
The Digital Economy and The Changing Supply Chain

The digital economy is putting pressure on traditional supply chain models to conform to the “now” generation. To avoid disruption, companies must give customers what they want, when they want it and how they want it. 

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Rate your experience getting a mortgage (5 is good, 0 is terrible)

  • 5
  • 4
  • 3
  • 2
  • 1
  • N/A - never got a mortgage

See Results

Ballot Box
Subscribe