The demand for state-of-the-art office space in West Palm Beach is surging as affluent individuals from Palm Beach are relocating their businesses. With the Central Business District currently at 3.95 million square feet and an additional million square feet on the way, this South Florida area is witnessing significant increases in rental prices. The move is not merely a shift in location but signifies a broader economic trend driven by billionaires like Stephen Ross, who are developing new office spaces, enhancing occupancy rates and stimulating real estate growth in the region.
"People are moving here and moving their companies here and absorbing space. It's not musical chairs. It's positive, new-to-the-market absorption."
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