The lack of developable land in Broward and South Palm Beach will draw more developers to Palm Beach County, and a healthy development pipeline is expected to continue this year as the West Palm Beach and Jupiter submarkets have 3.4 million square feet of proposed projects slated for completion over the next three years.
That’s according to a Palm Beach Industrial Q4 2022 report by Cushman & Wakefield that says Palm Beach’s overall vacancy fell 100 bps from the previous quarter to 10.7%, continuing historically low rates for the market.
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