Palm Beach County Emerges as One of America’s Biggest Office Construction Markets

Palm Beach County has become one of the country’s most active office development markets, with the West Palm Beach-Boca Raton area ranking fifth nationally for office space under construction in CommercialCafe’s latest annual Office Pipeline report. As of January, the market had nearly 1.6 million square feet of office space in development, trailing only Boston, Manhattan, Dallas, and Los Angeles. That puts it ahead of much larger markets such as Austin and San Diego and marks the first time West Palm Beach-Boca Raton has reached the top tier of the annual ranking.

South Florida more broadly is also showing notable office development activity. Miami ranked 11th nationally with just under 800,000 square feet of office space underway, while Fort Lauderdale had another 180,000 square feet in the pipeline but did not make the top 20. Altogether, South Florida accounted for about 8.9 percent of the 28.9 million square feet of office space under construction nationwide as of January, giving the region an outsized share of new U.S. office development...

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RSK: South Florida seems to be a boom market for new office space.....again some good news for the office sector.