Q3 2018 Palm Beach Industrial Market Report
Date Published: 10/22/2018
The industrial market in Palm Beach County continues to grow in the third quarter of 2018 as industrial remains the most attractive property type in South Florida. A growing economy with an expanding population makes Palm Beach County an attractive market to invest in. The vacancy rate currently stands at 3.1 percent and has remained stable year-over-year. Vacancy rates in Palm Beach’s industrial market have hovered around 3 percent since the beginning of 2017 and remain at a historical-low. Rental rates for warehouse space currently stand at $8.82, distribution space at $8.64 and flex space at $14.67. Overall, rates have increased by 7 percent year-over-year. Industrial rates are expected to continue rising in Palm Beach County as supply remains limited.