West Palm Beach industrial real estate market report
Q2 2024
West Palm Beach’s unemployment rate has experienced a slight decrease during the second quarter, dropping 40 basis points quarter-over-quarter reaching 2.9%. There was a 1.7% increase in non-farm employment, with a significant 7.9% year-over-year increase in the construction sector, as well as a 2.8% rise in manufacturing occupations year-over-year.
$15.25
Average asking rate
The average asking rate for the industrial market has reached a new all-time high of $15.25.
1.78 msf
Deliveries
West Palm Beach is set to deliver over 1.78 million square feet of new industrial inventory by year's end.
+238,125
Net absoprtion
West Palm Beach’s industrial market experienced over 238,000 square feet of positive net absorption during the first quarter.
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