Figures
Palm Beach Industrial Figures - Q3 2025
October 8, 2025 5 Minute Read
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- Net absorption in the Palm Beach market increased this quarter to 138,040 sq. ft., up from 58,276 sq. ft. absorption recorded in Q2.
- Vacancy remains heavily concentrated outside the core market, accounting for 27.1% of total vacant space, primarily within the Palm Beach Park of Commerce. Positive momentum is beginning to emerge, however, with Niagara Bottling occupying 183,029 sq. ft. this quarter and Meyer Tool expected to move in next quarter with 63,445 sq. ft.
- Rent growth has stagnated quarter-over-quarter due to pressure from new supply, with asking rates averaging $14.84 per sq. ft. on a triple net basis.
- Nearly 1.5M sq. ft. is under construction, though the pipeline is cooling from the 2M sq. ft. pandemic peak, signaling a broader slowdown in speculative development.