The Real Deal Miami

Palm Beach County office numbers grim

July 17, 2009 12:02PM

Problems in commercial real estate are making themselves clearer and clearer, according to CB Richard Ellis. Palm Beach County’s office vacancy rose in the second quarter, up from 23.8 percent in the first quarter and 18.1 percent in the same period a year ago, CBRE reported. Vacancy was 8 percent in 2005. Industrial rents also declined to $7.41 a square foot, down from $7.53 a square foot in the first quarter.