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Q3 2019 Palm Beach Retail Market Report

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The Palm Beach County retail market saw multiple new leases for grocers to fill anchor spaces in neighborhood and community centers and purchases of shopping centers for more than $200 per square foot each. Investors are showing interest in the market due to strong fundamentals including investments in new developments and renovations, a positive net absorption and a decreasing vacancy rate. Almost 60,000 square foot delivered this quarter over three buildings and 480,000 square feet remain under construction in the county. Retail construction is taking place primarily in the eastern part of the county from Palm Beach Gardens down to Boca Raton, most are to be mixed-use developments or lifestyle centers. One West Palm and Flagler Banyan will be 15,000 to 20,000 square feet each of retail within a mixed-use development, The Shops at The Press and Uptown Boca will be 120,000 to 160,000 square feet each of retail making up lifestyle centers.

 


PBC Retail3Q 2019

Q3 2019 Palm Beach Retail 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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