West Palm Beach desperately needs more Class A office space to attract more financial service firms and other tenants to the city.
Economic Development Director Chris Roog claims West Palm Beach is “essentially out” of available top-tier office space, Daily Business Review reported. Roog estimates he receives six calls per month from hedge funds and other financial companies interested in relocating to the city. But Roog barely has any vacant offices to show prospective tenants.
“The last time we took a tour of office space, I had three spaces to show,” Roog told the Review.
Companies are looking for Class A spaces ranging from 6,000 to 20,000 square feet. Some firms are open to older offices that could be repositioned.
Financial services firms occupy nearly 200,000 square feet of the city’s 5.5 million square feet of office supply. [Daily Business Review] — Eric Kalis