Figures
Port St. Lucie Industrial Figures - Q4 2024
January 13, 2025 5 Minute Read
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- Amazon and BroadRange drove absorption activity this year by occupying over 2.0 million sq. ft. in the Port St. Lucie area. These move-ins led to record positive absorption and marked the largest industrial move-ins for Port St. Lucie this year.
- Vacancy dropped to 19.3%, a decrease of 300 basis points from Q4 last year. This drop is largely attributed to the two large move-ins, providing relief to a market that has seen rising vacancy rates since Q3 2023. Also, a tornado spawned from Hurricane Milton destroyed the vacant 1.0 million sq. ft. SFL Logistics site, further decreasing inventory.
- Reacting to changing demand, the construction pipeline has slowed down. There is currently no inventory under construction, compared to a high of 6.6 million sq. ft. in 2022. The reduced construction activity is expected to help balance the market, preventing oversupply and supporting stable vacancy rates.