South Florida’s industrial real estate market experienced an increase in vacancy rates in 2025, as new speculative construction outpaced leasing activity. The tri-county region—Miami-Dade, Broward, and Palm Beach counties—saw significant additions of warehouse, distribution, and manufacturing space, leading to higher vacancies despite steady leasing.
According to Colliers data, Miami-Dade County completed 1.2 million square feet of industrial space in the third quarter of 2025, resulting in a vacancy rate of 6.5 percent, up from 4.9 percent during the same period last year. Broward County’s vacancy rate rose to 6.4 percent after completing over 710,000 square feet through September, compared to 4.7 percent a year earlier. Palm Beach County saw its vacancy rate reach 7.2 percent following the completion of 872,600 square feet by September, up from last year’s third-quarter rate of 6.6 percent.
Despite these increases in vacant space, several large leases were signed this year. Of the top ten industrial deals reported for South Florida in 2025, seven were new leases and three were renewals. Miami-Dade accounted for nine of these transactions; Palm Beach had one and Broward none.
The largest lease renewal involved CEVA Logistics—a global logistics firm based in Marseille—renewing its 364,600-square-foot lease at a warehouse located at 5601 Northwest 72nd Avenue in the Airport North/Medley submarket of unincorporated Miami-Dade County. “CEVA has been leasing the space since at least 2014,” according to records; it previously renewed its lease in 2019.
Amazon leased a warehouse comprising 235,900 square feet at 12805 Northwest 42nd Avenue in Opa-locka during the second quarter. This facility is near Amazon’s major fulfillment center at Miami-Opa Locka Executive Airport and will be used for handling extra-large packages.
Performance Food Group renewed its lease for a 229,300-square-foot facility at 3595 Northwest 125th Street in Miami-Dade County’s unincorporated area south of the airport.
Interworld Freight consolidated several locations into a single lease covering 226,100 square feet at Flagler Station (9601 Northwest 112th Avenue) within the Airport North/Medley submarket.
In Palm Beach County’s Park of Commerce near Jupiter, Niagara Bottling moved into a new warehouse spanning nearly 183,000 square feet as its previous lease expired.
Walton & Post kept its headquarters with a renewal on a roughly 180,000-square-foot space at Flagler Station (9375 Northwest 117th Avenue).
Other notable leases included Garland Food’s agreement for more than 174,000 square feet at Medley; Boise Cascade opening a new warehouse with over 162,000 square feet at Airport East Distribution Center; Miami Trading Zone taking nearly that much space for perfume distribution at Flagler Station; and American Bottling leasing over 150,000 square feet at Carrie Meek International Business Park in Opa-locka.
These deals reflect ongoing demand from logistics firms and distributors even as overall vacancy rates rise due to continued development across South Florida’s industrial sector.
