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Q2 2019 Palm Beach Industrial Market Report

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In the second quarter of 2019, two major leases executed at Duke’s Turnpike Crossing development indicated a strong demand for industrial space in Palm Beach County. One of these leases was to Amazon for approximately 100,000 square feet and the second was to SIW Solutions for more than 161,000 square feet. As a result, the two buildings at Turnpike Crossing project, one nearing completion and the other about to commence construction, are now fully leased. This strong pre-leasing activity indicates that larger users are interested in newer product with high ceilings, ample loading and adequate parking. As large tenants continue to seek and execute leases for large blocks of space, vacancy rates can be expected to compress even tighter. The market for smaller deals under 15,000 square feet is equally as active and in a tight market these tenants struggle to find viable space. Developers and landlords with availabilities in the 15,000 square foot to 20,000 square foot range (or smaller) will continue to experience strong demand from local users and tenants expanding from surrounding counties.

PBC Industrial 2Q 2019

Q2 2019 Palm Beach Industrial Market Report

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Verity Mosquera

Research and Consulting Manager

Fort Lauderdale

As Research and Consulting Manager in the South Florida market, I apply my experience in analytics, leadership and international business to monitor the global economy and make projections that help guide our brokers and clients in strategic decision making. My expertise in both leasing and investment sales ranges across multiple asset types including retail, industrial, office and multifamily.  

Prior to joining Colliers, I worked for The Washington Economics Group, Inc., where I led a team of eight economists as Manager of Client Services to prepare detailed economic impact analyses of a number of high-profile transportation and real estate projects in South Florida, including SkyRise Miami and All Aboard Florida. Other notable South Florida clients that I have worked with include Tate Capital, Odebrecht, Miami-Dade Expressway Authority and the International Speedway Corporation. Prior to moving to the United States in 2011, I graduated from law school and was a data analyst for Equity Insurance in Brentwood, UK.

I am active in the commercial real estate community through multiple organizations and committed to strengthening the participation of young leaders in the real estate sector through my current role as Co-Chair of the Urban Land Institute’s Young Leadership Group.

I also have a strong passion for teaching and mentoring students to help prepare them for careers in commercial real estate. I served as an adjunct professor for Miami Dade College School of Business teaching Principles of Management to undergraduate students pursuing their Bachelor’s degree in Business Administration and have recently served as a guest lecturer at Florida International University’s Tibor and Hollo School of Real Estate teaching market research skills to graduate students in the Masters in Science in International Real Estate (MSIRE) program. 

While earning my MBA at St. Thomas University, I served as president of Future Business Leaders of America - Phi Beta Lambda and spoke numerously on business and women career issues. St. Thomas University awarded me with the Outstanding Graduate Award and the Women in Leadership Award in recognition of these efforts.

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