Real Estate Snapshot

 

 

2019

 

 

Q3 2019 Palm Beach County Industrial Marketview

 

  • Total vacancy for the Palm Beach industrial market was 2.2% and has remained below 4% for 16 consecutive quarters.
  • Private buyers represent 82.7% of total buyer composition as of Q3 2019.
  • Palm Beach County’s unemployment rate decreased 10 bps year-over-year to 3.7% since August 2018. 
  • The Palm Beach industrial market currently has three buildings under construction and an industrial park composed of nine single user buildings. The total inventory under construction is 537,604 sq. ft

 

Q3 2019 Palm Beach County Office Marketview

  • 2019 year-to-date investment sales have totaled $486 million across 25 transactions.
  • Tricera Capital has plans of a re-development of the Palm Beach Post campus located in West Palm Beach which will consist of 140,000 sq. ft. office, and 125,000 sq. ft. retail space.
  • Q3 2019 vacancy continues to drop sitting at 12.2%, a 100 basis point improvement year-over-year.
  • The overall average asking rate for Q3 2019 was $23.92, a 10% increase year-over-year.

 

 

PALM BEACH COUNTY INDUSTRIAL MARKETFLASH


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Real Estate Reports provided courtesy of 

 

Investors

#1 Palm Beach County Board of County Commissioners Aerojet Rocketdyne Bank of America Baptist Health South Florida BB&T
Caler, Donten, Levine, Cohen, Porter & Veil, P.A. CareerSource Centennial Bank DePuy Synthes Power Tools, a Johnson & Johnson Company Engel & Volkers Palm Beach
Equestrian Center Florida Crystals Corporation FPL Greenberg Traurig Gunster
Hardrives, Inc. HCA Palm Beach Hospitals Hedrick Brothers Construction J.C. White JP Morgan Chase
LRP Publications Minto Communities, LLC NCCI NextGen Mgmt dba DxWeb Management, LLC Nova Southeastern University
Palm Beach Aggregates, LLC Palm Beach Park of Commerce PNC Bank Pratt & Whitney (A United Technologies Company) Raymond James Financial Services/Boynton Financial Group, Inc.
RSM South Florida Business & Wealth Magazine South Florida Business Journal TD Bank Tortoise Properties
Wells Fargo & Company Wexford Capital