Q2 2025 Treasure Coast Industrial Market Report

Treasure Coast Demographics

Unemployment Rate: 3.7%
Households: 268,200
Current Population: 723,800
Median Household Income: $69K, St. Lucie County | $81K Martin County

St. Lucie County Market Overview

Although the county recorded negative absorption in the ﬁrst half of the year, absorption improved in the second quarter. This resulted in a vacancy rate of 3.3%, which is similar to the ﬁve-year average of 3.8%. There is no construction ongoing in the county, which should continue aiding absorption levels moving forward. Meanwhile, rents in the county average around $16.00 per square foot, with ﬂex properties noting the highest rent at $17.90 per square foot. Over the past 12 months, the county recorded 24 transactions. It noted sale prices at $116 per square foot, with specialized buildings at the highest cost of $141 per square foot.

By the Numbers

Sales Volume: $1.7M
Average Sale Price per SF: $116
Cap Rate: 8.0%
Vacancy Rate: 3.3%
Rent Growth: 3.2%
Market Asking Rent per SF: $16.92
SF Absorbed: -16,289

Indian River County

Throughout the past 12 months, the county’s vacancy rate has decreased by 6.8%, which led to the vacancy rate for the second quarter to mark 15.8%. This activity can be attributed to ongoing construction across the county, with 150,000 square feet on the way. As construction remains high, rents have averaged around $11.75 per square foot. Flex properties note the highest asking rent at $12.50 per square foot. Over the past year, sales volume in the county was $66.3 million with 34 properties trading. Private players made up the most amount of sales in the county at 69%. Sales pricing averaged $111 per square foot, with cap rates in the 8.0-8.9% range.

By the Numbers

Sales Volume: $7.5M
Average Sale Price per SF: $111
Cap Rate: 8.1%
Vacancy Rate: 15.8%
Rent Growth: 3.3%
Market Asking Rent per SF: $11.75
SF Absorbed: 127,718

Martin County Market Overview

The Martin County industrial submarket is made up of around 5.5 million square feet of inventory, with logistics accounting for the most space at 3.8 million square feet. Rents average around $17.00 per square foot, changing by 3.2% year-over-year. Over the past year, newly-added space outpaced absorption with the addition of 47,000 square feet. There is 36,000 square feet under construction for two properties as of Q2 2025, and both facilities are scheduled for completion by year-end. Martin County recorded its top sale in May for an industrial property in Hobe Sound that sold for $1.5 million. Sales here record an average sale price of $133 per square foot with cap rates around 8.7%.