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Palm Beach Industrial Figures - Q3 2023

October 12, 2023 5 Minute Read

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  • The availability rate rose this past quarter, increasing from 4.3% to 5.2%. The vacancy rate also rose this quarter from 2.9% to 4.2%.
  • The market reported negative absorption in the third quarter of 2023, bringing year-to-date totals to 246,232 sq. ft.
  • The 1.6 million sq. ft. pipeline trended downward for the second consecutive quarter upon record deliveries and sharply decelerating new starts.
  • Rent growth, aggressive through all of 2022, has decelerated and will continue to cool thorough the year. This will vary on submarket, size range and asset type class.