PALM BEACH—Palm Beach may not be seeing a recovery as rapid as other areas of South Florida—property values have not yet reaching their previously frothy 2006 levels. But it's recovering all the same.

Is the reality of a slower recovery causing investors to be cautious about opportunities in the market or drive forward more aggressively? That's the question we asked Brad Capas, founder of CapasGroup Advisors. He gave us an in-depth answer that's worth digesting, especially given his dealings in the Palm Beach County market.

CapasGroup recently sold two infill redevelopment sites in West Palm Beach's North End submarket, known as the North Flagler-Currie Corridor, for $5.5 million. The firm also inked the $1.5 million sale of 1.55 acres of vacant land at 2023 North Flagler Drive, among other deals.