Palm Beach Industrial & Warehouse Market Report | Q3 2026
Last updated: November 11, 2026
Key Takeaways
- Palm Beach County industrial vacancy rose 90 basis points to 9.0% in Q3 2026, driven by the delivery of The District, a 520,000 SF, seven-building project in Boynton Beach that was about 81% available, according to Cushman & Wakefield.
- Outside Boynton Beach, vacancy fell in nearly every submarket, led by Jupiter, down 210 bps to 21.4%.
- The overall asking rent rose 4.9% from Q2 to $14.45/SF/yr NNN, up 4.3% on the year and the highest in three years, lifted by The District’s asking rents of more than $20.00.
- New leasing rose 47.1% from Q2 to 301,000 SF, ending a four-quarter slide, and the pipeline shrank to a two-year low of just over 400,000 SF.
Browse warehouse space for rent in Palm Beach County
9.0%
Overall Vacancy (Q3 2026)
$14.45
Avg. Asking Rent ($/SF/yr NNN)
301K
SF New Leasing (Q3 2026)
402K
SF Under Construction
Palm Beach County’s industrial market took on one large delivery in Q3 2026. Vacancy rose to 9.0% as The District in Boynton Beach came online mostly unleased, but vacancy fell in nearly every other submarket, absorption turned positive and rents reached a three-year high. With a thin pipeline, C&W expects vacancy to trend down over the next 12 to 18 months.
Figures are from Cushman & Wakefield’s Q3 2026 Palm Beach Industrial MarketBeat unless noted. The series covers Palm Beach County, 44.6 million SF. Miami-Dade and Broward counties are tracked separately. Prior-quarter figures are as restated in C&W’s Q3 2026 U.S. Industrial MarketBeat tables. Rents are weighted net asking rents in $/SF/yr.
Market Snapshot: Q3 2026
| Metric | Q3 2026 | Q2 2026 (restated) | Change or note |
|---|---|---|---|
| Overall vacancy | 9.0% | 8.1% | Up 90 bps QoQ and 50 bps YoY |
| Overall asking rent ($/SF/yr NNN) | $14.45 | $13.78 | Up 4.9% QoQ; up 4.3% YoY |
| Warehouse/distribution asking rent | $14.26 | n/a | W/D vacancy 11.2% |
| Net absorption | 85,546 SF | −105,707 SF | 28,911 SF year to date |
| New leasing | 301,015 SF | n/a | 829,270 SF year to date; up 47.1% QoQ |
| Deliveries, year to date | 519,991 SF | n/a | All of it The District, Boynton Beach |
| Under construction | 402,298 SF | n/a | All due by year-end; less than 13% available |
| Inventory | 44.6M SF | n/a | 33.1M SF is warehouse/distribution |
Source: Cushman & Wakefield, Palm Beach Industrial MarketBeat Q3 2026; Q2 2026 vacancy, rent and absorption from C&W’s U.S. Industrial MarketBeat Q3 2026 tables. n/a = not restated.
C&W lists two Q3 sales: 15132 Park of Commerce Boulevard in Jupiter, 105,000 SF, for $19.3 million, and 3787 Boutwell Road in Lake Worth, 21,300 SF, for $8.4 million ($392 per SF).
Rent Trends: Up 4.3% on the Year to $14.45/SF
The weighted average asking rent rose to $14.45/SF/yr NNN in Q3 2026, up 4.9% from Q2 and 4.3% from a year earlier, its highest point in three years. The District, where asking rents average more than $20.00, lifted the average. Outside Boynton Beach, Boca Raton was the only submarket with an annual rent increase, up 4.2% to $18.25.
By product type, warehouse/distribution space asks $14.26/SF/yr, manufacturing $13.78 and office service/flex $17.99. C&W expects limited new supply to support rent growth, though the average may ease as the county’s premium space leases up.
For Tenants
Choice depends heavily on location. Boynton Beach is 25.2% vacant and Jupiter 21.4%, so tenants willing to look north or at new product in Boynton have leverage. Several other submarkets are tight: Boca Raton is 2.2% vacant and Lake Worth 2.0%. Manufacturing space is just 2.0% vacant countywide. Search Palm Beach warehouse listings on WareCRE
Construction Pipeline: A Two-Year Low
Just over 400,000 SF was under construction at the end of Q3 2026, the smallest pipeline in two years, and all of it is expected to deliver by year-end. Less than 13% of that space is still available. Delray Beach has 311,300 SF underway and West Palm Beach 90,998 SF.
The proposed pipeline is much larger, at almost 6.0 million SF, but C&W notes longer build timelines and few recent starts, and forecasts 2027 deliveries among the lowest since 2019.
For Owners
The District’s lease-up is the near-term story. With about 81% of its 520,000 SF available at delivery, expect it to set the benchmark for new-construction rents in the county. Elsewhere, falling vacancy and a pipeline with less than 13% of space still available support pricing.
Submarket Breakdown
| Submarket | Inventory | Vacancy | Asking rent ($/SF/yr) | Year-to-date net absorption |
|---|---|---|---|---|
| West Palm Beach | 15.0M SF | 5.8% | $15.60 | −286,575 SF |
| Riviera Beach | 8.6M SF | 5.2% | $14.74 | 11,925 SF |
| Boca Raton | 7.2M SF | 2.2% | $18.25 | −7,792 SF |
| Jupiter | 5.9M SF | 21.4% | $10.62 | 243,563 SF |
| Boynton Beach | 4.0M SF | 25.2% | $17.55 | 39,892 SF |
| Lake Worth | 2.1M SF | 2.0% | $23.71 | −1,989 SF |
| Delray Beach | 1.8M SF | 12.4% | $16.01 | 29,887 SF |
| Palm Beach total | 44.6M SF | 9.0% | $14.45 | 28,911 SF |
Source: Cushman & Wakefield, Palm Beach Industrial MarketBeat Q3 2026.
West Palm Beach and Riviera Beach
West Palm Beach is the largest submarket, at 15.0 million SF, with 5.8% vacancy and an asking rent of $15.60/SF/yr. It has given back 286,575 SF of occupancy this year, the most in the county. Riviera Beach, 8.6 million SF, is 5.2% vacant and asks $14.74; CheeseBoarder’s 55,831 SF lease there was the quarter’s largest new deal.
Boca Raton and Delray Beach
Boca Raton is the tightest large submarket at 2.2% vacancy and asks $18.25/SF/yr. Amazon renewed 177,000 SF at 700 Banyan Trail, the quarter’s largest transaction. Delray Beach is 12.4% vacant with 311,300 SF under construction.
Jupiter and Boynton Beach
Jupiter recorded the county’s largest vacancy improvement, down 210 bps to 21.4%, and leads year-to-date absorption at 243,563 SF. It is also the lowest-cost submarket at $10.62/SF/yr. Boynton Beach is 25.2% vacant after The District delivered, though move-ins by The Brooks Racquet Club and American Twister there added almost 100,000 SF of occupancy.
Small-Bay and Flex Space in Palm Beach County
C&W does not publish a small-bay breakout for Palm Beach. Its product-type split shows the tightness sits outside warehouse/distribution. Office service/flex space, 5.0 million SF, is 3.5% vacant and asks $17.99/SF/yr, and manufacturing space, 6.5 million SF, is 2.0% vacant. Warehouse/distribution is 11.2% vacant, and it holds all of the space under construction.
For how small-bay space is defined and priced nationally, see our small bay industrial guide.
Looking for warehouse space in Palm Beach County?
Browse Palm Beach ListingsKey Trends to Watch
1. One Delivery Drove the Vacancy Increase
The District’s 520,000 SF was the county’s first delivery of 2026, and nearly 81% was available for lease on completion. Excluding Boynton Beach, vacancy fell in nearly every other submarket.
2. Leasing Has Turned
New leasing rose 47.1% from Q2 to 301,000 SF, ending four straight quarters of declining deal volume, and renewals this year have topped 765,000 SF, a post-pandemic high. Absorption turned positive at more than 85,000 SF, pushing the year-to-date total back above zero.
3. Supply Is Drying Up
The active pipeline is at a two-year low, and less than 13% of it is still available. With 2027 deliveries forecast among the lowest since 2019, C&W expects vacancy to trend down over the next 12 to 18 months.
Outlook: What to Watch in Early 2027
C&W’s year-end 2026 MarketBeats are typically released in January. Three measures will show whether vacancy has peaked.
- The District’s lease-up. Progress in Boynton Beach will decide how quickly countywide vacancy falls from 9.0%.
- Year-end deliveries. The remaining 402,298 SF under construction is due by year-end, but less than 13% of it is available, so it should add little vacancy.
- Rents. The average may ease as premium space leases, so watch Boca Raton and West Palm Beach for the underlying trend.
Find warehouse space in Palm Beach County
Browse small-bay, flex and distribution listings from Boca Raton to Jupiter.
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Frequently Asked Questions
What is the current industrial vacancy rate in Palm Beach County?
Palm Beach County’s industrial vacancy rate was 9.0% in Q3 2026, up 90 basis points from Q2 and 50 basis points from a year earlier, according to Cushman & Wakefield. The increase came from the delivery of The District in Boynton Beach; vacancy fell in nearly every other submarket.
How much does warehouse space cost in Palm Beach County?
The overall average asking rent was $14.45 per square foot per year NNN in Q3 2026, up 4.3% from a year earlier and the highest in three years. Warehouse/distribution space asks $14.26, manufacturing $13.78 and office service/flex $17.99. Boca Raton asks $18.25 and Jupiter $10.62.
Which Palm Beach submarket has the highest vacancy rate?
Boynton Beach has the highest vacancy rate at 25.2% after The District delivered, followed by Jupiter at 21.4% and Delray Beach at 12.4%. Jupiter has the most vacant space in absolute terms, about 1.3 million SF. Boca Raton, at 2.2%, and Lake Worth, at 2.0%, are the tightest submarkets, according to Cushman & Wakefield’s Q3 2026 report.
How much industrial space is under construction in Palm Beach County?
Just over 400,000 SF was under construction at the end of Q3 2026, a two-year low, with all of it expected to deliver by year-end and less than 13% still available. Almost 6.0 million SF is proposed, but Cushman & Wakefield forecasts 2027 deliveries among the lowest since 2019.
Is the Palm Beach industrial market improving?
Yes, outside Boynton Beach. New leasing rose 47.1% from Q2, absorption turned positive at more than 85,000 SF, and vacancy fell in nearly every submarket except Boynton Beach. With little new supply coming, Cushman & Wakefield expects vacancy to trend down over the next 12 to 18 months.
Sources: Cushman & Wakefield, Palm Beach Industrial MarketBeat Q3 2026; Cushman & Wakefield, U.S. Industrial MarketBeat Q3 2026 (restated quarterly tables). Each report reflects the most recent vacancy, rental, and construction data available at the time of publication.
