Market Trends
- Development remains heavily concentrated in the West Palm Beach Central Business District (CBD), accounting for approximately 70.0% of the pipeline.
- The two-tier office market persists, with a clear divergence by asset quality. Top-tier buildings command premium rents while older properties continue to lag in rent levels.
- Rent growth is moderating from peak levels, supported by imbalances in supply and demand among prime assets, with concessions and inflation also limiting effective gains.
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