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South Florida

Palm Beach bounces back

*Arrows indicate change from previous year.
*Arrows indicate change from previous year.

From the South Florida Market Report: Storefronts are filled with new tenants, office occupancy rates are rising and new buildings are under development as Palm Beach County’s commercial real estate sector bounces back from the brink, experts say.

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“Commercial real estate in Palm Beach County has recovered to near pre-recession levels,” Don Ginsburg, president of Fort
Lauderdale-based RMA commercial brokerage, told The Real Deal.

The commercial sectors in the suburban enclaves of Boca Raton, Delray Beach, Boynton Beach and Wellington, in particular, are rebounding, he said, following strong growth in the suburban residential markets. [more]