Industrial Current Rental Rates and Trends for 2025

As of the third quarter of 2024, Miami-Dade County’s industrial market has experienced notable changes in rental rates and vacancy levels. The average asking rent for industrial space stood at $15.41 per square foot, reflecting a 2.3% increase from the same period the previous year.

In the second quarter of 2024, the median asking rent rose to $17.42 per square foot, up from $16.06 in the same quarter of the previous year. This period also saw a slight increase in the vacancy rate to 2.3%, compared to 1.9% during the same period the previous year.

By the fourth quarter of 2024, the market recorded 2.0 million square feet of new leasing activity, marking it as the most active quarter for leasing that year.

Overall, while rental rates have experienced modest increases, the market has maintained a stable vacancy rate, indicating a balanced supply and demand dynamic in Miami-Dade County’s industrial sector.

Forward going rates may flatten or slightly decline depending on the impact of tariffs projected in the current year.  Stubbornly high interest rates will act on a damper for small and midsize industrial transactions.