South Florida’s industrial real estate market experienced an increase in vacancy rates in 2025, as a result of new speculative construction that added more available space than leasing activity could absorb. According to Colliers, Miami-Dade County saw its vacancy rate rise to 6.5 percent in the third quarter, compared to 4.9 percent during the same period last year, after completing 1.2 million square feet of new space. Broward County’s vacancy rate reached 6.4 percent, up from 4.7 percent last year, with over 710,000 square feet completed through September. Palm Beach County also saw a rise to 7.2 percent from 6.6 percent, with nearly 873,000 square feet delivered by September.
Despite these increases in vacant space, several large leases were signed across the region in 2025. Of the top ten industrial deals reported this year, seven were new leases and three were renewals. Miami-Dade County accounted for nine of these major transactions; Palm Beach had one while Broward did not record any among the largest.
The largest lease renewal was by CEVA Logistics, which extended its commitment to a 364,600-square-foot warehouse at 5601 Northwest 72nd Avenue in Miami-Dade’s Airport North/Medley submarket during the first quarter. “CEVA Logistics,” headquartered in Marseille and led by Mathieu Friedberg, has leased this facility since at least 2014 and previously renewed its lease in 2019.
Amazon secured a significant presence by leasing a 235,900-square-foot warehouse at 12805 Northwest 42nd Avenue in Opa-locka during the second quarter. The facility is located near Amazon’s fulfillment center at Miami-Opa Locka Executive Airport and will support distribution of extra large packages.
Performance Food Group renewed its lease for a 229,300-square-foot property at 3595 Northwest 125th Street in Miami-Dade earlier this year. The company remains based out of Richmond, Virginia.
Interworld Freight consolidated its operations within Flagler Station by signing a lease for a total of 226,100 square feet at 9601 Northwest 112th Avenue.
Niagara Bottling relocated within Palm Beach Park of Commerce into a newly developed building spanning almost 183,000 square feet at 15810 Walgreens Drive after its previous lease expired.
Walton & Post maintained its headquarters with a renewal for nearly 180,000 square feet at Flagler Station’s complex on Northwest 117th Avenue.
Other notable deals included Garland Food’s lease of over 174,000 square feet in Medley; Boise Cascade’s move into a more than 162,000-square-foot warehouse at Airport East Distribution Center; and Miami Trading Zone taking almost the same amount of space for perfume distribution within Flagler Station.
American Bottling signed the largest deal in Miami-Dade during the third quarter with a lease for over 150,000 square feet at Carrie Meek International Business Park in Opa-locka.
These transactions reflect ongoing demand among logistics firms and distributors even as South Florida continues to see high levels of new industrial development and rising vacancies.
Sources: “The Real Deal’s analysis of deals reported by TRD, Colliers, Cushman & Wakefield and Commercial Observer.”
