Stefan Levine Real Estate

Palm Beach County heads into the fall of 2026 with job growth outpacing the nation, some of the tightest commercial real estate in Florida and steady demand for homes. Here is the data, and where I see the opportunity.

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Labor Market: Job Growth Is Outpacing the Nation

Year-over-year job growth through July 2026:

• Palm Beach County: +0.5%
• Florida: +0.4%
• United States: +0.2%

That adds up to about 3,700 jobs added countywide over the past year. Source: FloridaCommerce and U.S. Bureau of Labor Statistics, July 2026.

Office: Florida’s Tightest Office Market

• 93.5% of top-tier downtown West Palm Beach space is leased or committed
• 700,000+ square feet leased in Q3, led by Fiserv’s 250,000 SF commitment
• $58.05 average asking rent per square foot, up 12.3% year over year
• 92%+ of northern Palm Beach County office space is occupied

Source: CBRE and Cushman & Wakefield, Q3 2026; Marcus & Millichap, 1Q 2026.

Industrial: Established Space Is Full

• Buildings built before 2000 (70% of stock): 96.3% occupied
• Overall market: 90.9% occupied
• New since 2020, leasing up: 68.9% occupied
• 265,000 SF under construction, a five-year low, with over 80% pre-leased
• $14.45 asking rent per square foot, up 4.3%, a three-year high

Source: CBRE and Cushman & Wakefield, Q3 2026.

Retail: 96.1% Occupied

County retail occupancy tightened 70 basis points over the year, tied for the second-strongest improvement among major U.S. markets. Publix bought two Boynton Beach centers for $102 million, and Bass Pro Shops is planning its county debut. Source: Marcus & Millichap, 3Q 2026; Colliers Q2 2026 via Commercial Observer.

Housing: Strong Demand, Rising Value (September 2026)

• $656,000 single-family median price, up 6.7%
• 43 days to contract, down from 51 a year ago
• 95% of list price received by single-family sellers
• 3.6 months of single-family supply, a seller’s market
• Rentals: 93.6% occupied at a record $2,560 average rent

Source: MIAMI REALTORS and RWorld, September 2026; Cushman & Wakefield Multifamily, Q1 2026.

Who Is Choosing Palm Beach County

Through Q2, 25 companies committed 1,789 new jobs to the county in 2026, including:

• Fiserv: 250,000 SF office lease, North Boca Raton
• ServiceNow: 200,000 SF AI hub, West Palm Beach
• Voloridge: 129,000+ SF at Harbourside Place, Jupiter
• Ampera: nuclear energy headquarters with 200 jobs, Palm Beach Gardens
• D-Wave: quantum computing, Boca Raton
• Concorde: investment firm headquarters, Boca Raton
• Blue Ops: maritime defense headquarters

New Supply Is Already Spoken For

• Office: 1.5 million SF of Class A underway, with pre-leasing led by ServiceNow’s 200,000 SF
• Industrial: 265,000 SF, a five-year low, more than 80% pre-leased
• Multifamily: 4,576 units against forecast demand of 10,800 rental units through 2027
• Retail: little new space; buyers are acquiring existing centers
• Homes: listings down 20%, prices up 6.7%, under contract in 43 days

My Read: Where the Opportunity Lies

• Executive housing: relocating leaders cluster in Palm Beach Gardens, Jupiter and North Boca, sustaining luxury and coastal demand.
• Small-bay flex: established industrial space is 96% occupied, creating room for right-sized, cost-efficient new flex.
• Professional office: northern Palm Beach County office is over 92% occupied, and demand supports new owner-occupied professional and medical office condos.
• Neighborhood retail: grocery-anchored centers are tightening fastest and drawing buyers like Publix.

Let’s talk about your plans for Palm Beach County. Call (561) 632-7705 or email slevine@ipre.com.

Sources: FloridaCommerce; U.S. Bureau of Labor Statistics; CBRE; Cushman & Wakefield; Marcus & Millichap; Colliers; Avison Young; HUD; MIAMI REALTORS and RWorld; company announcements; Palm Beach County economic development data. Figures as published, 2026.