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PALM BEACH COUNTY, FL-Shopping centers in the county have bounced back and are experiencing strong occupancy rates and rents, according to recent research by Terranova Corp., a third-party commercial real estate advisory firm based in Miami.

The research results are based on a survey of 196 centers with 50,000 sf or more and do not include enclosed regional malls. Research shows that after the county's shopping centers had suffered from double-digit vacancy rates at the end of 2001, with much-improved occupancies, the market is seeing double-digit percent increases in average rent.

Countywide, the shopping center vacancy rate has been cut nearly in half, dropping to about 5.2%, compared with about 10.3% in winter 2001. This improvement occurred despite an increase of approximately 1.3 million sf of new shopping center space during the period.