Palm Beach Industrial Figures - Q2 2026

By Q2 2026, the market posted 55,000 sq. ft. of positive net absorption, a turnaround from negative 145,000 sq. ft. in Q1 2026 and above the 14,000 sq. ft. recorded in Q2 2025. Vacancy stands at 8.0%, edging down 0.1 percentage points quarter-over-quarter but up 0.8 percentage points year-over-year, while availability has risen to 9.0%, 0.5 percentage points above last quarter and 1.4 percentage points higher than a year ago. Average asking rent is $13.98, down 0.4% quarter-over-quarter yet 7.0% higher year-over-year.

Vacancy has climbed from a 2.1% low in Q3 2022 as a substantial supply wave delivered. Under construction inventory has contracted from a peak of 2.6 million sq. ft. in Q2 2023 to 799,000 sq. ft. in Q2 2026, following large completions, including 1.2 million sq. ft. in Q2 2024 and 657,000 sq. ft. in Q4 2025.

The largest transaction is Boomers Volleyball Academy’s 32,000 sq. ft. lease in Boynton Beach, followed by Ryan Friedman Motor Cars with 29,000 sq. ft. in Riviera Beach. These leases illustrate new commitments ranging from 12,000 sq. ft. to 32,000 sq. ft. across multiple submarkets; they represent only a sample of the quarter’s new leasing activity rather than the full market total.