Palm Beach’s Bankers Row still pricey, but momentum cools


Bankers Row, that tony strip of offices along Royal Palm Way in Palm Beach, remains one of the nation’s priciest office markets.

The submarket’s average rent of $61.80 a square foot ranks as the ninth-dearest in the country, according to the biannual Most Expensive Streets study by commercial real estate brokerage JLL.

That’s a 96 percent premium to office space in West Palm Beach, JLL reports.

Bankers Row also ranked No. 9 two years ago. Intriguingly, prices have barely budged in recent years. The average rent on Bankers Row was $58.07 in 2015 and $57.99 in 2011, meaning rents are up just 7 percent over the past six years.

Tenants include Barclays, Northern Trust, U.S. Trust, First Republic Bank and PNC, along with giants Bank of America, Citibank, JPMorgan Chase and Wells Fargo. 

The tech hub of Sand Hill Road in Silicon Valley has the nation’s priciest rents, at $119 a foot, JLL says. Surprisingly, that’s down from nearly $142 a square foot two years ago.


Reader Comments ...


Next Up in

Billionaire developer Jeff Greene sues gossip site for libel
Billionaire developer Jeff Greene sues gossip site for libel

Contending that an article on the GossipExtra website was libelous, billionaire developer Jeff Greene has sued gossip columnist Jose Lambiet. In a suit filed this month in Palm Beach County Circuit Court, Greene calls Lambiet’s reporting “grossly inadequate.” Greene’s claim focuses on a Dec. 3 piece titled, “Is Billionaire...
Amazon raises monthly Prime membership rate
Amazon raises monthly Prime membership rate

The monthly membership fee for Amazon Prime rose Friday from $10.99 to $12.99. Company officials said the annual membership will remain at $99 dollars. Monthly customers do not get access to Amazon Video, which costs $8.99 a month. The last Prime subscription hike came in 2014, when Amazon increased its yearly membership from $79 to $99. The e-commerce...
Enright elected Port of Palm Beach chair
Enright elected Port of Palm Beach chair

Jean Enright was elected Thursday as the new chair of the Port of Palm Beach Commission. Enright joined the commission in 2005. She was re-elected in 2008, 2012 and 2016. She received a bachelor’s degree from Tuskegee University, a master’s from Howard University, and a doctorate from the Catholic University of America. Enright has worked...
Top tips for selling your old stuff on eBay (and actually making cash)
Top tips for selling your old stuff on eBay (and actually making cash)

Too much clutter, too little money, too many gifts you didn't like... an eBay auction is one of the simplest solutions to all three issues. If your trash might be someone else's treasure, an eBay business is simple to start and accessible to just about anyone. "It has low start-up costs and it can be started out of your home," noted the ...
Pot docs postpone Miami medical marijuana conference, blame Sessions
Pot docs postpone Miami medical marijuana conference, blame Sessions

The American Medical Marijuana Physicians Association planned to host prominent speakers at a confab in Miami next month. Now, though, the group says Attorney General Jeff Sessions’ tough talk about weed has forced it to reconsider. The pot docs said they have postponed their NFL and Medical Cannabis Conference. Speakers were to include Dr....
More Stories