Highlights
- The average rent for office space in West Palm Beach is $46.22 per square foot, 18.01% higher compared to the previous year.
- The average sale price for office space in West Palm Beach is $314.96 per square foot, marking an increase of 67.20% compared to 2024.
- The market’s vacancy rate stands at 15.18%, higher than the state average of Florida, which is 15.13%.
- Renting Class A/A+ office space here costs $72.28 per square foot, while Class B averages $34.87 and Class C stands at $24.23.
- 204,167 square feet is currently under construction.
2025 Office Space Rent & Sales
- $46.22 2025 Avg. Asking Rent
- 18.01% Y-o-Y Avg. Asking Rent Change
- 15.18% 2025 Office Vacancy Rate
- $270.5M2025 Total Office Sales
- $314.96Avg. Sale Price/SF
What is the average asking rent price for office space in West Palm Beach?
Average asking rents for office space here stand at $46.22 per square foot. The local office market recorded an average vacancy rate of 15.18% in 2025, unchanged from 15.18% in 2024.
Office transactions in the local market in 2025 totaled a sales volume of $270.5M across 8 sales. These transactions commanded an average sale price per square foot of $314.96.
West Palm Beach, FL Office Asking Rents by Class
What is the average office rent per square foot by property class in West Palm Beach?
- Avg. Asking Rent Class A & A+$72.28
- Avg. Asking Rent Class B$34.87
- Avg. Asking Rent Class C$24.23
The average asking rent for Class A and A+ office space stood at $72.28 per square foot, indicating the best — and most expensive — that the market has to offer.
Class B space in West Palm Beach averaged $34.87 per square foot, while the average for Class C space was $24.23 per square foot.
What is the average office rent per square foot by property class in FL?
- Avg. Asking Rent Class A & A+$45.91
- Avg. Asking Rent Class B$27.03
- Avg. Asking Rent Class C$19.30
For comparison, the average rent for Class A and A+ office space in Florida was $45.91 per square foot. The state-wide average for Class B space was $27.03 per square foot, and Class C office spaces averaged $19.30 per square foot.
West Palm Beach, FL Office Indicators by Submarket
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| West Palm Beach - Central Business District | $69.32 | 21.29% |
| West Palm Beach - Central | $51.42 | 15.24% |
| West Palm Beach - South Central | $40.13 | 9.67% |
| Palm Beach Gardens | $38.27 | 16.73% |
| Palm Beach Lakes | $30.90 | 12.93% |
| Royal Palm Beach | $28.70 | 11.73% |
| West Palm Beach - North Central | $25.38 | 12.21% |
2025 Office Sales Volume
- $314.962025 Avg. Price per SF
- $270.5M2025 Office Sales Volume
- 82025 Number of Transactions
What is the average sale price per square foot for office space in West Palm Beach?
Average sale prices for office space in this market recorded a +67.20% change in 2025 compared to the previous year.
Office transactions recorded in the market in 2025 averaged $314.96 per square foot. For comparison, the statewide Florida average during the same time period stood at $209.15 per square foot, while the national average was $182.48 per square foot.
West Palm Beach, FL Sale Price per SF Trend
- West Palm Beach Avg. Sale Price per SF in 2025$314.96
- Florida Avg. Sale Price per SF in 2025$209.15
What was the total office sales volume in West Palm Beach in 2025?
The local office market recorded 8 deals in 2025, adding up to a yearly sales volume of $270.5M.
- West Palm Beach, FL Total Office Sales Volume in 2025 $270.5M
- West Palm Beach, FL Total Number of Office Sales Closed in 2025 8
2025 Office Construction in West Palm Beach, FL
- West Palm Beach, FL Total SF completed in 2025 120,000
- West Palm Beach, FL Total SF under construction in 2026 204,167
How much office space was built in West Palm Beach in 2025?
Looking forward, development activity in 2026 is estimated to add 204,167 square feet of office space to the market in total.
What are the largest recent office completions in West Palm Beach?
The largest recent office completion here is CityPlace Tower at 300,000 square feet, completed in 2008. The next largest completions are Emerald View at Vista Center and EcoPlex®.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Banyan & Olive | 300 Banyan Boulevard, 33401 | 100,007 | 2024 |
| 302 Datura Street | 302 Datura Street, 33401 | 42,073 | 2019 |
| 1180, 1190 & 1200 South Congress Avenue | 1200 South Congress Avenue, 33406 | 50,717 | 2016 |
| CityPlace Tower | 525 Okeechobee Blvd, 33401 | 300,000 | 2008 |
| EcoPlex® | 1641 Worthington Road, 33409 | 100,525 | 2008 |
| Emerald View at Vista Center | 2054 Vista Pkwy, 33411 | 139,471 | 2007 |
| Courthouse Commons | 444 West Railroad Avenue, 33401 | 93,000 | 2007 |
| The Space Connect | 311 Golf Rd, 33407 | 5,000 | 2006 |
| 1710 Old Okeechobee Road | 1710 Old Okeechobee Road, 33409 | 20,000 | 2005 |
| 2005 Vista Pky | 2005 Vista Pky, 33411 | 40,017 | 2004 |
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Disclaimer
All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor Yardi Research Data can guarantee that the information provided is complete.