PALM BEACH, FL—Is less really more? It is at the Bank United Building in Palm Beach.
Most class A office buildings in Palm Beach charge upwards of $50 per square foot and are much older buildings with vacancy rates in the area averaging about 20%. Brett Forman, CEO and principal of Forum Capital, the firm that owns the BankUnited building at 2875 South Ocean Boulevard, says rents in the $20 to $30 per square foot range are much more sustainable.
“We try to look at our tenants as business partners,” says Forman. “We succeed if they succeed and if one of us fails, it affects the whole community.”
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