West Palm Beach struggled last quarter but has made the turn showing positive absorption, the majority of which was in the suburban markets, according to a report by KRES Commercial.
Palm Beach Gardens/North Palm Beach made huge strides, leasing over 100,000 square feet year to date and absorbing over 35, 000 square feet.
The Jupiter/Juno Beach market, however, continues to make positive strides, becoming the healthiest office submarket in South Florida. Net absorption was another 1% for the quarter, bringing the total vacancy rates down to 6%, with true absorption numbers equal to the larger Palm Beach Gardens market at 31,000 square feet, year to date.
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