Second-quarter 2026 numbers from Berger Commercial Realty show a South Florida market that is settling rather than surging.
Office: stabilizing in Broward, strengthening in Palm Beach
Broward County office vacancy slipped to 10.2%, with positive net absorption of 18,199 square feet and average asking rents of $42.34 per square foot, nearly flat quarter over quarter. Palm Beach County was stronger: vacancy of 7.5%, asking rents of $52.75, and 261,750 square feet of positive absorption, its fourth consecutive positive quarter.
Industrial: from boom to balance
Industrial is adjusting after several very tight years. Broward's industrial vacancy rose to 6.7% on an inventory of 118.4 million square feet, with average asking rents of $17.44. Net absorption was slightly negative at 11,562 square feet, but tenant givebacks slowed considerably. Palm Beach industrial softened more, with vacancy at 8.0% and asking rents of $15.32.
That matches the national picture. The National Association of REALTORS® reported in September that industrial supply is still running ahead of demand, but the gap has narrowed substantially from a year earlier, with logistics driving most demand and flex space the weakest segment.
What it means for owners and buyers
- Warehouse owners: tenants have more choices than a year ago, so condition and presentation matter again. Pricing a lease or a sale on 2023 expectations can leave a property sitting.
- Buyers: a more balanced market means more room to negotiate and more time for due diligence.
- Everyone: industrial and warehouse sites often carry environmental history from prior operations. Buyers and lenders ask about it, so it pays to know the answer first.
Sources
This article is general market commentary for property owners and investors. It is not investment, legal or tax advice. Figures are as reported by the sources above on the dates shown.
