PALM BEACH—Why is now the time to invest anddevelop office product in downtown West PalmBeach? That's the question we asked Brad Capas,founder of CapasGroup Realty Advisors.
“The performance and fundamentals of the Downtown West PalmBeach office market are compelling,” Capas tellsGlobeSt.com. “For instance, the three true class A buildings inDowntown West Palm Beach are now 95% occupied so new tenantsseeking large blocks of class A space are being turned away.”
From Capas' perspective, if a new officebuilding came to market there exists “sufficient demand” to secureat least one or two new market entrants with sizable officespace requirements. What's more, he says, tenantsrelocating locally from other, older class A and B buildings woulddrive additional pre-leasing activity.
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