South Florida’s industrial sector experienced a slowdown this year, primarily driven by speculative developments that introduced vacant space to the market.
While leasing activity remained consistent, it was not enough to offset the large volume of newly delivered warehouses, distribution centers, and manufacturing facilities.
As a result, vacancy rates across the tri-county area rose despite ongoing leasing momentum.
In Miami-Dade County, 1.2 million square feet of new industrial space was completed in the third quarter, pushing the vacancy rate to 6.5 percent, up from 4.9 percent a year earlier, according to Colliers.
Broward County’s vacancy rate reached 6.4 percent in the third quarter, compared to 4.7 percent during the same period last year. Over 710,000 square feet of new space came online in Broward through September, Colliers data shows. In Palm Beach County, 872,600 square feet was delivered through September, increasing the vacancy rate to 7.2 percent from 6.6 percent in the previous year’s third quarter.
Nevertheless, South Florida secured several major leases in 2025. Of the 10 largest transactions, seven were new leases and three were renewals.
Miami-Dade accounted for nine of the top ten industrial deals, Palm Beach County claimed one, and Broward County did not land any of the largest leases.
Top deal
The largest industrial lease this year in north Miami-Dade involved a global logistics company remaining at its existing location.
CEVA Logistics, headquartered in Marseille, France, renewed its lease for 364,600 square feet at 5601 Northwest 72nd Avenue in the Airport North/Medley submarket, an unincorporated part of the county. This renewal was finalized during the first quarter.
CEVA, led by Mathieu Friedberg, has occupied the facility since at least 2014 and previously renewed the lease in 2019.
The company operates from 1,500 sites in 170 countries, providing ocean, air, and ground transportation services, including rail logistics.
Records show the Airport North/Medley building is owned by New York-based Clarion Partners. The property, completed in 2003, sits on 20.3 acres, and Clarion is led by CEO David Gilbert.
Amazon loads up
Amazon, the e-commerce giant founded by Jeff Bezos, secured a new warehouse lease in Opa-locka, marking the largest industrial deal in Miami-Dade during the second quarter.
Based in Seattle, Amazon leased 235,900 square feet at 12805 Northwest 42nd Avenue, less than a mile from its large fulfillment center at Miami-Opa Locka Executive Airport.
According to media reports referencing an Amazon spokesperson, this newly leased warehouse will support Amazon’s network for extra-large packages.
San Francisco-based Prologis developed the Opa-locka warehouse, completing the project in 2023 on a 14.6-acre parcel.
Prologis co-founder Hamid Moghadam will be stepping down as CEO at the end of the year, with Dan Letter set to take over the role. Moghadam will continue as executive chairman.
Food distributor good to go
Performance Food Group opted to remain at its Miami-Dade facility.
The food distributor renewed its lease for 229,300 square feet at 3595 Northwest 125th Street, located in an unincorporated area south of the Miami-Opa Locka airport. The renewal was signed in the first quarter.
Performance Food Group, based in Richmond, Virginia, is led by George Holm.
The property is owned by New York-based TIAA (Teachers Insurance and Annuity Association of America), which is led by Thasunda Brown Duckett and spans 10.1 acres, according to public records.
Interworld Freight consolidates
A logistics provider streamlined its Miami-Dade County operations by consolidating several locations into a single space at the Flagler Station industrial campus.
Interworld Freight signed a lease for 226,100 square feet at 9601 Northwest 112th Avenue in the Airport North/Medley submarket. The first-quarter lease brought together multiple Interworld spaces within Flagler Station, including its prior location at 9705 Northwest 108th Avenue.
Founded in 1992 by CEO John Crespo, Interworld specializes in logistics services connecting the U.S. with Latin America and the Caribbean.
Ownership records indicate the building is held by an entity affiliated with Prologis.
Niagara Bottling goes with flow
Niagara Bottling, a bottled water manufacturer based in Southern California, relocated its warehouse within the Palm Beach Park of Commerce.
The company leased 182,800 square feet at 15810 Walgreens Drive in unincorporated Palm Beach County near Jupiter, moving from its previous space as its lease expired, a spokesperson told news outlets.
This lease was finalized in the second quarter.
The building was developed by Ambrose Property Group of Indianapolis, with completion occurring last year. Ambrose is led by Aasif Bade.
Snack-packer renews HQ
Walton & Post, a distributor of grocery and consumer packaged goods, renewed its headquarters lease at the Flagler Station industrial complex in Miami-Dade County.
The company extended its 179,700-square-foot lease at 9375 Northwest 117th Avenue in unincorporated Miami-Dade, with the deal completed in the second quarter.
According to CompStak, Walton & Post has occupied space in the building since at least 2015.
Flagler Global Logistics, a division of Miami-based Florida East Coast Industries, was the master developer of Flagler Station and completed the headquarters building in 2015, according to public records.
Garland Food brings spice to Medley
Produce supplier Garland Food signed a lease
