Editorial: Thanks to a perfect storm of events, retail is back in Palm Beach, and the future looks solid

If you're looking to open a shop in Palm Beach, you're out of luck.

From Royal Palm Way to the Royal Poinciana Plaza, over to South County Road and onto the venerable Worth Avenue, there isn't any retail space available on the island.

While some Main Streets around the country are still struggling and empty stores can be found at many malls, Palm Beach has "basically zero vacancies," said Robert Klecinsky, director of retail services at Cushman & Wakefield’s Palm Beach office.

No vacancies? Really? Royal Poinciana Way and South County Road have traditionally had several unfilled storefronts at the start of each season, and Worth Avenue has had its share. With the growing popularity of online shopping, some people even declared that brick-and-mortar stores were dead.

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In fact, in February 2021, the Town Council awarded a $94,250 contract to Cincinnati-based YARD & Company to help Palm Beach revive its ''struggling'' shopping areas and streamline town code that might be blocking some stores from opening.

Well, something happened on the way to retail's funeral.

First, the Royal Poinciana Plaza a few years ago underwent a sorely needed upgrade (which will continue with a planned reopening of the long-shuttered Royal Poinciana Playhouse slated for next year) and the Via Flagler project refreshed a down-and-out Royal Poinciana Way. But it's the pandemic that actually got retail going again in town.

After numerous businesses shuttered during the initial COVID shutdown, the business climate changed. Since people were working remotely, many decided to move to the warmer climes of Palm Beach instead of shivering up north. Seeing the exodus from New York and other cities, several high-end galleries and fashion businesses followed the money and opened pop-ups on the island, and now some have decided to stay permanently.

As shops started to fill on the main shopping streets, it bled over to other parts of town. But the turnaround startled even some Realtors and retailers.

“Out of 23 storefronts and offices lease on the island, I have only one left, which is the first time in 30 years I’ve represented these properties as a broker that we will be at 100% occupancy before season begins,” Jeffrey Cloninger, broker at Sotheby’s International Realty, Palm Beach, said last month.

With real estate still sizzling and West Palm Beach growing with new financial institutions moving there and a planned University of Florida campus, Palm Beach retail should be on solid footing for years to come.

If the town can finally figure out its new traffic and long-time parking woes, the business community will continue to thrive.

This article originally appeared on Palm Beach Daily News: Editorial: Retail is back in Palm Beach, and the future is bright