Market Report
West Palm Beach Retail Market Report
3Q 2026
Vacancy Tightening Across Most Submarkets
Pushes Tenants Toward Legacy Retail Centers
Space scarcity supports older properties. Palm Beach County tied for the second-sharpest vacancy decline among major markets over the year ended in June, with the rate falling 70 basis points to 3.9 percent. Vacancy tightened across both pre- and post-1990 built properties as demand extended even to older footprints. Notably, neighborhood center vacancy dropped 100 basis points as necessity-oriented tenants sought space, even as large move-outs lifted power-center vacancy nearly 200 basis points. Yet recent leases from off-price, recreational, and experiential tenants should aid backfilling, while Bass Pro Shops’ planned county debut shows major brands are still looking to expand.
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