Industrial vacancy rate hits four-year high

The vacancy rate for industrial spaces in Miami has reached its highest point in the past four years, standing at 6.5% as of Q1 2025, following historic lows of 2.1% in 2023. Year over year, the vacancy rate has increased by 260 basis points (bps). A higher vacancy rate for large industrial spaces over 100,000 square feet (sf), along with a significant influx of new projects entering the market, has further contributed to this rise in vacancy. Current economic conditions have also resulted in an increase in available sublease spaces. Despite this rise in vacancy, the availability of modern logistics space remains scarce in Miami.

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