What was the Palm Beach County office vacancy rate in Q2 2026?

The Palm Beach County office vacancy rate was 7.5% in Q2 2026.

What was the average asking rent for Palm Beach County office space in Q2 2026?

The average asking rent for Palm Beach County office space was $52.75 per square foot in Q2 2026.

What was Palm Beach County office net absorption in Q2 2026?

Palm Beach County recorded positive net absorption of 261,750 square feet in Q2 2026, the strongest absorption performance of the past four quarters.

What trends shaped the Palm Beach County office market in Q2 2026?

Key trends included accelerating positive absorption, declining vacancy and availability, continued rent growth, no new deliveries and stronger performance among modern, well-located office properties.

What types of industrial properties are better positioned in Palm Beach County?

Office properties with strong locations, professional management, convenient parking, modernized space, quality amenities and efficient layouts are better positioned in Palm Beach County.

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Palm Beach County Office Market Report Q2 2026

Q2 2026 Office Market Report

Palm Beach County Office Market Report Q2 2026

Q: Where can I download the full Palm Beach County Office Market Report Q2 2026?

The full Palm Beach County Office Market Report Q2 2026 can be downloaded from Berger Commercial Realty at https://bergercommercial.com/wp-content/uploads/2026/07/Office-Palm-Beach-_Q2_26.pdf.

Berger Commercial Realty’s quarterly overview of Palm Beach County office market conditions, including vacancy, asking rents, absorption, inventory and key trends shaping the South Florida office sector.

The Palm Beach County office market strengthened during the second quarter of 2026 as leasing activity accelerated, vacancy continued to decline and availability tightened for the fourth consecutive quarter. The combination of sustained positive absorption and no new deliveries supported improving occupancy conditions across the market.

In Q2 2026, Palm Beach County recorded approximately 60.6 million square feet of office inventory. The market posted a 7.5% vacancy rate, average asking rents of $52.75 per square foot and positive net absorption of 261,750 square feet, the strongest absorption performance of the past four quarters.

7.5%

Vacancy Rate

$52.75

Avg. Asking Rent PSF

60.6M SF

Office Inventory

261,750 SF

Net Absorption

Download the Full Palm Beach County Office Market Report

Click below to download the full Q2 2026 Palm Beach County Office Market Report, including detailed market data, vacancy and availability trends, asking rents, absorption, new deliveries, top sales, top leases and additional industrial market insights.

Click Here to Download the Full Report

Palm Beach County Office Market Overview

Palm Beach County remains one of South Florida’s most desirable office markets, supported by population growth, executive relocation, financial services, professional firms, healthcare users and continued business expansion throughout Boca Raton, West Palm Beach and surrounding submarkets.

Tenant demand continues to favor modern, well-located office environments with upgraded amenities, efficient layouts, strong parking and convenient access. Class A and recently renovated properties remain best positioned to capture leasing activity and command premium rental rates.

With no new office deliveries recorded during the quarter, tenant demand was concentrated within the existing inventory base. This helped support occupancy gains, declining vacancy and continued rent growth across competitive assets.

What the Q2 2026 Data Shows

Palm Beach County recorded 261,750 square feet of positive net absorption in Q2 2026, up significantly from 44,954 square feet in Q1. The quarter marked the fourth consecutive period of positive absorption and the strongest occupancy gain of the past four quarters.

Vacancy declined to 7.5% from 7.9%, while availability fell to 6.6% from 7.0%. These improvements continued the market’s tightening trend and indicate that tenant move-ins meaningfully outpaced move-outs during the second quarter.

Asking rents increased to $52.75 per square foot from $50.30 in Q1, representing quarterly growth of approximately 4.9%. Rising rents, positive absorption and declining vacancy point to strengthening fundamentals, particularly for modern and well-located office properties.

Key Trends in the Palm Beach County Office Market

Tenant Demand Is Strengthening

Leasing activity strengthened during Q2, with tenant move-ins significantly outpacing move-outs. Demand remains selective, but the quarter’s absorption performance points to greater confidence among office users.

Flight to Quality Continues

Class A and recently renovated office properties with modern amenities, efficient layouts and desirable locations remain best positioned to capture demand and command premium rental rates.

Absorption Accelerated

Net absorption reached positive 261,750 square feet in Q2, up from 44,954 square feet in Q1. The result marked four consecutive quarters of positive absorption and the strongest gain of the past year.

Asking Rents Reached a New High

Average asking rents increased to $52.75 per square foot, up $2.45 from Q1 and approximately 14.3% from Q3 2025. Tightening conditions and limited new supply supported continued pricing growth.

What This Means for Owners and Tenants

For Property Owners

For Palm Beach County office property owners, Q2 2026 data reflects strengthening market conditions, but performance remains highly dependent on property quality, location and execution. Competitive buildings are benefiting from tighter availability and continued rent growth.

Compare asking rents and concessions against competing office buildings.
Evaluate vacancy and availability within the submarket.
Review common areas, amenities, parking and tenant spaces.
Assess access, visibility and convenience for employees and clients.
Identify tenant retention risks.
Consider capital improvements that enhance tenant experience and support rent growth.
Strengthen marketing visibility and broker outreach.

For Tenants

For tenants evaluating office space in Palm Beach County, declining vacancy and limited new supply mean that the strongest options may become more competitive. Tenants should begin the search early and evaluate the full cost and functionality of each alternative.

Evaluate lease term flexibility.
Understand the full cost of occupancy.
Review parking availability, access and building amenities.
Consider convenience for employees, clients and executives.
Analyze space efficiency, layout and future workplace needs.
Review building condition and management quality.
Plan for future growth, contraction and workplace strategy.

Palm Beach County Office Market Outlook

The Palm Beach County office market enters the second half of 2026 with improving fundamentals. Positive absorption accelerated, vacancy and availability declined, and asking rents continued to rise as tenants competed for quality space within the existing inventory base.

Well-located, modernized and professionally managed office properties should remain best positioned to benefit from these conditions. Older buildings may need to invest in improvements, strengthen leasing packages or reposition to remain competitive.

Palm Beach County is not merely holding steady. The market is tightening, and the best office assets are gaining ground.

Need Palm Beach County Office Market Guidance?

Berger Commercial Realty provides commercial real estate brokerage, property management and receivership services throughout Palm Beach County and South Florida. Whether you are leasing office space, evaluating your property’s performance, preparing to sell, repositioning an asset or reviewing your property management strategy, our team can help you make informed real estate decisions.