Miami-Dade Industrial Market Report

Northwest Dade poised for recovery, while leasing moderates near MIA. Miami’s industrial market faced a supply-demand imbalance in early 2025; however, fundamentals are expected to stabilize as completions slow through year-end and lease commitments inked during the first quarter begin occupancy later in 2025. Large agreements by e-commerce and food-related users — including Amazon and Garland Foods, each taking around 200,000 square feet — should benefit northern submarkets that have grappled with recent supply infusions. These include North Miami Beach, Outlying Dade County and Medley. Meanwhile, the Miami International Airport (MIA) corridor faces greater near-term risk. Here, demand has recently cooled for spaces ranging from 10,000 to 50,000 square feet. With another wave of speculative deliveries expected in this area later this year, local vacancy has the potential to rise over the near term. Yet airport-proximate spaces smaller than 10,000 square feet should continue to readily lease-up as tenant demand for cost-effective floorplans has stayed strong among locally based companies.