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With amenities such as a conference center and wet labs, the repurposed development Pegasus Park will open in early 2021 and feature four components: a biotech plus hub, a social impact hub and entertainment/dining venues.
Colliers International brokered the sale of West Palm Medical Plaza, which was purchased by WPB Medical Office LLC, an affiliate of a local investment group.
A new survey of 126 companies by CBRE notes the tension between the cost of maintaining their office space with the cost of supporting employees who are working remotely.
While government and corporate policies are driving regional differences in how employees distance at work, no region had employee distancing averages that were greater than the recommended 6 feet.
The national office vacancy rate jumped by 10 basis points to 17.1%. REIS forecasts that the national office vacancy rate will rise to 19.3% by year-end and peak at around 20% in 2021.