PALM BEACH, FL—What city comes top of mind when you think of high rent—for both residential and office space? New York City? You might be surprised to learn the country's most expensivestreet for office space is in a San Francisco suburb, according to a research study released by Jones Lang LaSalle.  

JLL just revealed the results of a study of 40 office markets across the United States reveals the list of most expensive streets for office space in 2013, a follow-up to the study's launch in 2011. Florida also has a strong presence on the most-expensive office space list.

Royal Palm Way in West Palm Beach ranked ninth $58.52 per square foot. That's a .9% increase over the last study. Royal Palm Way is dubbed “Banker's Row” due to the concentration of wealth management and financial services firms, catering to the wealthy residents on Palm Beach Island.

It makes sense for office tenants to pay this rate. While the premium rent costs are above what some of the class A trophy assets command in Downtown Palm Beach, office buildings on this street are centrally located, so tenants are essentially paying for the proximity to its client base not just the office space itself.

Brickell Avenue in Miami-Dade came in at 14th, with an average rent of $39.09 per square foot. East Las Olas Boulevard in Fort Lauderdale at the No. 19 spot with an average rent of $36.84.

“This year's results are particularly interesting because, not only do they demonstrate the standard real estate rule that location is everything, but they also reflect the overall office space demand trend in the U.S.,” says John Sikaitis, managing director of Office Research at JLL.. “We are seeing a slight uptick in occupancy rates as a result of the rate of business growth in the economy combined with a lack of new development.”