2020 Industrial Market Report PALM BEACH 2Q 2020

HISTORICAL ABSORPTION

HISTORICAL ABSORPTION

VACANCY & RATES • The overall industrial vacancy rate decreased by 10 bps YOY to 3.4% at the end of the first quarter of 2020. • Overall asking rental rates increased 7.0% YOY to $10.74 per square foot (psf).

HISTORICAL ABSORPTION PAST 5 YEARS • Industrial net absorption from 2015 to 1Q20 in Palm Beach County reaches over 3.4 msf • YTD overall net absorption totals 163,700 sf

Manufacturing 7,413,625

ENE OF YEAR TOTAL NET SF ABSORBED 2010 501,994 SF 2011 181,179 SF 2012 139,716 SF 2013 493,767 SF 2014 192,477 SF 2015 1,015,304 SF 2016 707,815 SF 2017 559,636 SF 2018 148,661 SF 2019 106,613 SF 1Q 2020 198,653 SF

Palm Beach Co. Overall Market Breakdown

Office Services 6,300,625

Warehouse/ Distribution 28,573,899

12 | PALM BEACH COUNTY

INDUSTRIAL MARKET REPORT | 13