MIAMI—At 3.2 million square feet, Downtown West Palm Beach is the smallest of South Florida's three central business districts. Nevertheless, the market is home to the highest class A office rents, strong class A office occupancy and the highest office sale prices per square foot in the region.

What's driving these impressive performance statistics? The market's combination of sound market fundamentals, the unique work-live experience, and exciting growth trends that are rapidly transforming the downtown area into a fully-evolved CBD, according to Brad Capas, president of CapasGroup Realty Advisors.

“The class A office buildings in Downtown West Palm Beach are nearly full and there simply is not sufficient vacant space to accommodate demand due to existing class A tenants needing to expand, new class A office users seeking to enter the West Palm Beach market and tenants migrating to the CBD from surrounding suburban markets.” Capas tells GlobeSt.com. “As a result, class A office rents per square foot are the highest among the three South Florida CBDs.”