Landlords are focusing their efforts on maximizing the value of their properties and positioning them for the upcoming cycle. The overall average asking direct lease rate increased 2.0% year-over-year coming in at $21.70 per sq. ft.
According to Real Capital Analytics (RCA), a majority of the capital flow in 2018 for Palm Beach County office assets can be attributed to institutional investment (37%) and private investment (30%).
Five sale transactions closed in Q2 2018, accounting for a total of 2.2 million sq. ft. with a total sale volume of $275 million.