In the first quarter of 2019, vacancy rates increased as a negative amount of industrial and flex space was absorbed. A negative 295,442 square feet was absorbed in the first quarter which caused a correct in Palm Beach’s industrial market. The vacancy rate currently stands at 3.6 percent, an increase of 60 basis points quarter-over-quarter. While a 56,160 square foot warehouse was delivered in Boynton Beach, an additional 280,000 square feet is currently under construction and is expected to deliver by the end of 2019. Land is scarce in the southern portion of Palm Beach County which makes the idea of new industrial development virtually impossible. Most of the new developments are located in Boynton Beach and further north in the county.