Miami industrial real estate market reports
Q3 2025
At $276 per square foot (psf), Miami set Florida’s pricing benchmark in Q3, with core submarkets commanding $9-$11 psf rent premiums over 2020 levels. Together with Fort Lauderdale, Miami captured half of the state’s industrial sales, underscoring South Florida’s dominance as Florida’s premier logistics hub. Demand increased as absorption more than doubled to 670,459 square feet (sf) and vacancy declined to 5.8%, despite continued deliveries. Asking rents rose for the fifth consecutive quarter to $17.59 psf/NNN, showing the market’s capacity to absorb new supply without weakening fundamentals. With the current level of investment flows, Miami is expected to remain one of Florida’s most competitive industrial markets.
Average asking rents
Asking rates climbed to $17.59 psf NNN in Q3 2025, rising 21 bps quarter-over-quarter and extending the growth streak to five consecutive quarters.
Net absorption
Net absorption surged to +670,459 sf in Q3 2025, doubling Q2’s pace and signaling renewed momentum as demand gains traction across the market.
Vacancy
Vacancy decreased 20 bps to 5.8% in Q3 2025, highlighting market stability as steady demand kept pace with ongoing deliveries.
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