Market Report Q1 2022

The Miami industrial market’s Q1 2022 vacancy rate is a decade low 2.7% with a $15.99 per sq. ft. average (gross) lease rate at the close of the quarter. Year-over-year rent growth is up to 18.3% in the industrial market, far above the national average and is outperforming the metro’s five-year annual average of 7.7%.

Market Report Q4 2021

The Miami industrial market’s Q4 vacancy rate was 2.8% and the availability rate is 5.1% at the close of
the quarter with a $15.11/SF average (gross) lease rate. Year-over-year rent growth is 14.5% in the industrial
market, far above the national average. Miami ranks as one of the priciest industrial markets on the East
Coast due to the lack of available, buildable land.

Market Report Q3 2021

The Miami industrial real estate market continues its strong performance. In Q3 2021 vacancy rate was 3.1%
and the availability rate is 5.3% at the close of the quarter with a $14.45 per sq. ft. average (gross) lease rate.
Rent growth had been declining for the past two years but the impact of the coronavirus pandemic and the
explosion of e-commerce, rent growth has improved in recent quarters to 12.1%. Growth in Miami is now 5%
stronger than the nation.

Market Report Q2 2021

The Miami industrial market’s Q2 vacancy rate was 3.9% at the close of the quarter with a $13.78 per sq. ft.
average (gross) lease rate. Industrial vacancies have compressed after reaching higher levels in 2020. The annual rent growth is 9.2%. After trending in line with the country for most of 2020, growth in Miami is now three
percentage points stronger in recent quarters.

Market Report Q1 2021

The Miami industrial market’s Q1 vacancy rate was 4.6% at the close of the quarter with a $13.16 per sq. ft. average
(gross) lease rate. Industrial vacancies are back below the National Index rate after climbing higher in 2020 for the first time in 20 years. Deliveries have totaled 4.7 million sq. ft. over the past 12 months. After trending in line with the country for most of 2020, Miami is now two percentage points stronger in recent quarters.

Market Report Q4 2020

The Miami industrial market’s Q4 and yearly 2020 vacancy rate was 5% at the close of the quarter with a $12.80 per sq. ft. average (gross) lease rate, up only to $12.82 for the year. Vacancies have risen slightly higher due to the increase in supply of space for lease coming from all the new construction, reaching a seven-year high in Q3 of 2020. 

Market Report Q3 2020

The Miami industrial market’s Q3 2020 vacancy rate was 6% at the close of the quarter with a $12.62 per
sq. ft. average (gross) lease rate. Vacancies have risen slightly higher due to effects of the coronavirus pandemic,
which has caused market uncertainty and pushed decision makers into a holding pattern, making many tenants hesitant to sign substantial leases well ahead of expiration.

Market Report Q2 2020

The Miami industrial market’s Q2 2020 vacancy rate was at 5.3% with a $12.55 per sq. ft. average (gross) asking lease rate. Vacancies have remained below the national average for the past five years. Deliveries have totaled 4.4 million sq. ft. over the past 12 months.

Market Report Q1 2020

The Miami industrial market starts Q1 2020 with a 4.7% vacancy rate and $12.53 per SF average (gross) lease rate. There was 1.4 million SF of positive absorption over the past 12 months, with deliveries totaling 3.7 million SF in the same time.

Market Report Q4 2019

The Miami industrial market ends Q4 2019 with a 4.2% vacancy rate and $12.40 per sq. ft. average (gross) lease rate. There was 1.4 million sq. ft. of positive absorption over the past 12 months, with deliveries totaling 2.7 million sq. ft. in the same time. There is over 4 million sq. ft. of new construction in the works, which is 1.7% relative to inventory and slightly below the national average. 

Market Report Q3 2018

The industrial market in Miami continues its strong performance in the third quarter of 2018. The absorption for this quarter was similar to that of 2Q, net space absorbed was 1,383,043Sq.Ft. Just a little below the 1,470,070 Sq.Ft. in 2Q 2018but much higher than the 174,347Sq.Ft. in 3Q 2017. 

Market Report Q2 2018

This was another strong quarter for leasing and sales of industrial buildings in Miami. Second quarter 2018 saw an astonishing net absorption of 1,470,070 Sq.Ft. This is a huge increase compared to only 10,422 Sq. Ft. in the 1Q 2018 and 90,992 Sq.F.t in the 2Q 2017.

Market Report Q1 2018

Lease and sales of industrial space in Miami continued to be strong; although net absorption declined from the last quarters. First quarter 2018 saw a net absorption of only, 10,422 Sq.Ft. This compared to 373,017 Sq. Ft. in the 4Q 2017 and 602,988 Sq. F.t in the 1Q 2017.