Palm Beach County is in for a strong 12 to 18 months, according to Colliers International’s Q2 market report, which said demand for Class A office space is up, malls have largely weathered the COVID-19 pandemic and industrial inventory is at almost half a million square feet.
Palm Beach received one of the largest industrial deliveries in the past five years of new supply in one single quarter, the report noted. Some contributing factors explain why the industrial market is doing so well, including the switch to an e-commerce economy, the influx of migration to Florida, tax reforms and more investments in the industrial and multi-family sectors.
