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Article: West Palm: on the brink. (West Palm Beach, Florida) (Real Estate)
- Article from:
- Florida Trend
- Article date:
- January 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 Trend Magazines, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Vacancy rates remain stubbornly high. But South Florida migration trends are working in West Palm Beach's favor.
Driving east from Palm Beach International Airport toward downtown West Palm Beach, the Raymond F. Kravis Center for the Performing Arts glistens regally amidst the scrub and vacant tracts. Downtown, you can't miss the pink-tinted Phillips Point tower, the Northbridge building, Esperante and new federal judicial center. But beyond these landmarks, there's the impression of something lacking.
And it is. West Palm Beach's office vacancy rate is 25%; downtown, the rate is closer to 27%. And these numbers, stuck there the past few years, are showing few ...