SOUTH FLORIDA INDUSTRIAL MARKET
Stay ahead with current data, submarket trends, and expert insight on South Florida's industrial real estate landscape.
MARKET SNAPSHOT · Q2 2026
South Florida's industrial market continues to demonstrate resilience across all three counties. Broward remains Florida's tightest industrial market, Miami sustains healthy fundamentals despite elevated new supply, and Palm Beach is positioned for an absorption rebound in the second half of 2026.
PALM BEACH COUNTY
BROWARD COUNTY
MIAMI-DADE COUNTY
Source: Cushman & Wakefield MarketBeat Industrial Q2 2026
SUBMARKET BREAKDOWN
| Submarket | County | Key Characteristics | Typical Use |
|---|---|---|---|
| Jupiter / North Palm Beach | Palm Beach | Strongest submarket in Palm Beach Q2; 167K SF of occupancy gains driven by Alaris and Town of Jupiter | Owner-user, flex, light industrial |
| Boca Raton | Palm Beach | Market-leading rents in Palm Beach County at $18.12 PSF; South Palm Beach submarkets posting annual rent increases | HQ, flex, high-image distribution |
| West Palm Beach / Riviera Beach | Palm Beach | Port access; inventory expanded ~20% since 2019; large-block sublease vacancy driving near-term pressure | Port logistics, manufacturing, distribution |
| Pompano Beach / Coral Springs | Broward | Double-digit rent growth YOY; active development corridor with new Class A deliveries including Cocomart Business Park | E-commerce fulfillment, distribution |
| Southwest Broward | Broward | Market-high 7.4% vacancy driven by new construction and 134K SF move-out; Rivian (45K SF) among notable move-ins | Regional distribution, pharma, tech |
| Southeast Broward | Broward | Smith Imports (59K SF) among largest Q2 move-ins; strong consecutive absorption quarters since 2023 | Last-mile, light industrial, flex |
| Doral | Miami-Dade | Premium addresses; high-image product; strong Latin American trade hub; Bridge Point Doral Building 3 under construction | HQ, showroom, distribution |
| Airport West / Medley | Miami-Dade | Largest industrial concentration in South Florida; proximity to MIA; Power Logistics among active pipeline projects | Distribution, logistics, manufacturing |
| Hialeah / Opa-locka | Miami-Dade | Dense infill market; C.H. Robinson (50K SF) and Barberi (32K SF) among Q2 move-ins; limited new supply | Last-mile, light industrial, flex |
TRENDS & DRIVERS
Development activity is slowing across all three counties. Broward's pipeline fell to just 552,000 SF — the second smallest in Florida. Palm Beach recorded its third consecutive quarter without a new delivery. Miami's first-half completions hit their lowest level since 2014, even as 2.5M SF remains under construction.
Markets are actively digesting the record supply delivered in late 2025. Broward's vacancy held at 5.4% — Florida's tightest — while Miami's 6.3% and Palm Beach's 8.1% reflect ongoing lease-up of recently completed product. With strong preleasing and ~3.5M SF of leased space set to occupy by year-end in Miami alone, absorption is expected to improve in H2.
Rent performance is splitting across the tri-county area. Broward rents rose 7.6% YOY to $17.67 PSF, with double-digit growth in Pompano Beach and Coral Springs. Miami rents declined 5.3% YOY to $15.73 PSF as new supply competed for tenants. Palm Beach fell 0.6% QOQ to $13.69 PSF, though Boca Raton leads the county at $18.12 PSF.
Miami executed 14 large-block leases exceeding 100,000 SF through midyear — up from 12 at the same point in 2025. Broward posted its highest quarterly leasing volume in a year at 680,000 SF in Q2. Renewals are also signaling healthy conditions, with 1.3M SF signed in Broward since the start of the year.
Both ports continue to anchor industrial demand in South Florida. Port-proximate submarkets in Miami-Dade and Broward remain among the most active for leasing, while Palm Beach's Riviera Beach port corridor supports logistics and manufacturing demand in the northern market.
All three markets are set up for improved conditions in the second half of the year. Broward's vacancy is expected to stay below 6.0%. Miami has approximately 3.5M SF of leased space slated to occupy by year-end. Palm Beach has ~550,000 SF already leased and scheduled for occupancy, with strong preleasing on its H2 pipeline.
CUSHMAN & WAKEFIELD
Download the latest Q2 2026 industrial MarketBeat reports for each South Florida county, published by Cushman & Wakefield.
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