3Q 2016 Palm Beach County MarketBeat

Industrial Snapshot Q3 2016 PalmBeachCounty MARKETBEAT

YTD LEASING ACTIVITY (SF)

OVERALL WEIGHTED AVG. NET RENT (HT)

YTD INVESTOR SALES ACTIVITY (SF)

YTD OVERALL NET ABSORPTION (SF)

OVERALL WEIGHTED AVG. NET RENT (MF)

OVERALL WEIGHTED AVG. NET RENT (OS)

OVERALL WEIGHTED AVG. NET RENT (W/D)

UNDER CNSTR (SF)

INVENTORY (SF)

OVERALL VACANCY RATE

SUBMARKET

Boca Raton

6,729

333,535

5.4% 140,352

0

N/A

$7.15

$12.75

$11.66

7,217,431

Jupiter

0

0

3.6% 68,386

0

N/A

N/A

$9.89

$8.53

3,976,457

Delray Beach

114,163

32,370

3.7% 28,287

0

N/A

N/A

$11.41

$9.86

1,593,539

Boynton Beach

61,544

0

5.5% 12,223

0

N/A

$6.95

$11.27

$6.95

2,322,914

Lake Worth

3,280

0

6.0% 36,017 252,000

N/A

N/A

$9.71

$7.95

1,826,442 13,854,545

West Palm Beach

73,087

175,361

1.8% 260,785 383,760

N/A

$7.25

$11.89

$7.92

Riviera Beach

9,194,588 178,879

0

3.9% 502,984

N/A

$6.00

$9.73

$6.95

PALM BEACH TOTALS 39,985,916 437,682

541,266

3.8% 1,049,034 635,760

N/A

$7.10

$11.87

$8.49

*Rental rates reflect NNN asking $psf/year **Overall rental rates not reflective of US Overview.

HT = High Tech/Flex MF = Manufacturing OS = Office Service/Flex W/D = Warehouse/Distribution

OVERALL AVERAGE ASKING RENT (SF)

CURRENT NET ABSORPTION (SF)

YTD OVERALL NET ABSORPTION (SF)

LEASING ACTIVITY (SF)

UNDER CNSTR (SF)

INVENTORY (SF)

DIRECT VACANT (SF)

OVERALL VACANCY RATE

BUILDING TYPE

Warehouse/Distribution

25,721,475

837,572

3.3%

201,506

752,019

89,010

635,760

$8.49

Manufacturing

7,034,008

110,446

1.6%

75,394

159,903

0

0

$7.10

Office Services/Flex

7,230,433

544,196

7.8%

44,154

137,112

5,300

0

$11.87

*Rental rates reflect NNN asking $psf/year

.

Key Lease Transactions Q3 2016 PROPERTY

SF

TENANT

TRANSACTION TYPE

SUBMARKET

1920-1972 High Ridge Road

32,523

UMI

Lease

Boynton Beach

1103-1147 Gateway Boulevard

12,800

Charlie Bear

Lease

Boynton Beach

400 Northpoint Parkway

5,107

Interactive Medical Technical

Lease

West Palm Beach

Key Sales Transactions Q3 2016 PROPERTY

SF

BUYER

PRICE / $PSF

SUBMARKET

$3,700,000/$89.45

Boca Raton

1161 Holland Drive

41,362 Prodigy Brands LLC (Owner/User)

$5,100,000/$116.37

Jupiter

Pennock Business Center (3 building portfolio)

43,824 Suburban Campus Properties, Inc.

About Cushman & Wakefield Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter. Copyright © 2016 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from multiple sources considered to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.

Cushman & Wakefield of Florida, Inc.

Valerie Tatum, Senior Research Manager Tel: +1 954 377 0492 valerie.tatum@cushwake.com Chris Owen, Florida Research Manager Tel: +1 407 541 4417 chris.owen@cushwake.com

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