West Palm Beach industrial real estate market report

Q1 2024

West Palm Beach’s unemployment rate has experienced a slight uptick, increasing 70 basis points year-over-year, reaching 3.3%. In the first quarter, there was a 1.3% increase in total non-farm employment, with 1.4% growth in the trade, transportation and utilities sector, as well as a 2.8% rise in manufacturing occupations year-over-year.
3.9 mos.

Months on market

The average months on market for industrial space to lease in West Palm Beach is 3.9 months.


Average starting rents

Average starting rents in West Palm Beach have increased an impressive 59% over a three-year span.

+114k sf

Net absoprtion

West Palm Beach’s industrial market witnessed 114,177 square feet of positive net absorption during the first quarter.

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