Palm Beach County ranks No. 4 in national list of hottest retail real estate markets

Shoppers at the Palm Beach Outlets. (Lannis Waters / The Palm Beach Post)
Shoppers at the Palm Beach Outlets. (Lannis Waters / The Palm Beach Post)

South Florida dominates a ranking of the nation’s hottest retail markets. According to online real estate marketplace Ten-X, the Miami, Fort Lauderdale and West Palm Beach metro areas rank Nos. 2, 3 and 4 in its list of best markets to own retail real estate over the next few years.

Ten-X’s analysis:

“West Palm Beach is benefiting from escalating population growth and steadily increasing employment numbers, each of which outpaces national averages. Retail demand is strong enough to withstand healthy additions to supply, and Ten-X Research forecasts that it will pull vacancies below 7 percent by 2018. Rents should continue an accelerating growth pattern over the same period, and steadily improving fundamentals show [net operating income] will continue to grow at close to 4 percent.”

And its top 5:

City: Four-year rent increase

  1. Austin: 19.6%
  2. Fort Lauderdale: 17.4%
  3. Miami: 16.2%
  4. West Palm Beach: 12.8%
  5. San Francisco: 11.7%

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