Jupiter/Juno Tops South Florida Office Market, West Palm Turning Corner
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.
