Palm Beach Office Condo Reports Uptick

PALM BEACH, FL—Office condos were once a hot trend. Although that trend fizzled, apparently it’s not completely dead. Indeed, the Sanctuary Centre is reporting recent office condo sales have brought the180,442-square-foot business center’s available space close to sell out.

“As local market inventory steadily shrinks, we’ve found renewed interest in condo office space from professional firms and regional companies that want an east Boca Raton presence, without top-tier pricing,” says George Sacks, managing principal of Commercial Florida Realty Services. His firm has closed five sales since December and has two additional sales under contract. These deals have reduced available Sanctuary Centre condo office space to under 10,000 square feet.