search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aElie Schwartz misses payment after allegedly defrauding investorsElie Schwartz misses payment after allegedly defrauding investorsTracking $12B in out-of-state and foreign home purchases in Palm Beach CountyTracking $12B in out-of-state and foreign home purchases in Palm Beach CountyManhattan’s luxury contracts slog into spring Manhattan’s luxury contracts slog into spring 
South Florida

West Palm Beach’s medical office sector continues to show strength

Sign Up for the undefined Newsletter

The medical office market in West Palm Beach continues to outperform, according to a report from Marcus & Millichap. With increased demand for medical services from Palm Beach County’s older and affluent population, the area could see significant net absorption in the near term. Vacancy is also projected to drop more than 100 basis points to the low-12 percent range, according to the report. The area will also get a boost from the new hospital planned by Scipps Florida and Tenet Healthcare, leading to an investment focus on the biotech hub straddling Palm Beach Gardens and Jupiter. Developers will deliver two medical office properties in 2012, totaling 89,000 feet, according to Marcus & Millichap. — Alexander Britell

Tags
Marcus MillichapWest Palm Beach