Figures
Miami Industrial Figures - Q3 2025
October 8, 2025 5 Minute Read
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- Net absorption has been unexpectedly robust during the uncertain times brought about by shifting changes in the economy. Local users are confident enough to take on more space, and developers are willing to break new ground despite vacancy rates holding at 6.0%, still ranking among the lowest in the top 20 industrial markets.
- Year-to-date, just over 2.0 million sq. ft. of new projects have broken ground, coming in slightly below last year’s pace. Most of this activity remains concentrated in the Airport/Doral submarket, which has historically captured the bulk of tenant demand. Overall, development has moderated noticeably in recent years
- Vacancy reached a five-year low of 2.6% in 2022, supported by robust absorption and record levels of construction. Since then, vacancies has trended upward, peaking at 6.5% last quarter as new supply continued to outpace demand. This quarter, the rate edged down slightly due to a pause in major deliveries.