With third-quarter industrial reports now out for all three South Florida counties, tenants facing a renewal in the coming year can compare the markets on a single, consistent basis, and the most useful lesson is that the countywide headline rarely describes the building you are actually in.
With third-quarter industrial reports now out for all three South Florida counties, tenants facing a renewal in the coming year can compare the markets on a single, consistent basis, and the most useful lesson is that the countywide headline rarely describes the building you are actually in. CBRE’s third-quarter figures, which use the same method in each county, put vacancy at 6.9% in Miami-Dade, 6.9% in Broward and 9.1% in Palm Beach.
| County | Vacancy | Availability | Avg. direct asking rent | Q3 net absorption |
|---|---|---|---|---|
| Miami-Dade | 6.9% | 9.5% | $17.79/SF | +1.27 million SF |
| Broward | 6.9% | 11.1% | $17.58/SF | +67,800 SF |
| Palm Beach | 9.1% | 9.8% | $14.51/SF | +114,500 SF |
Two definitions matter. The asking rent blends net and gross quotes, so it is not a triple-net rate and not what tenants actually sign. Availability counts space that will be ready within six months, including space that is still occupied, so it is not the same as empty space.
Palm Beach looks like the softest market, but its buildings under 50,000 square feet were only 3.4% vacant. The county’s higher vacancy sits mostly in large new buildings. Miami-Dade’s vacancy falls to 5.4% when buildings delivered since 2025 are excluded. In Broward, small buildings were 5.7% vacant while buildings of 100,000 to 250,000 square feet were 8.6% vacant. A tenant in a 15,000-square-foot unit has far less leverage than the county number suggests. A tenant in a large block may have more.
Start early. In Broward, larger renewals signed since 2025 have started about 10 months after signing, roughly double the lead time of a few years ago, and landlords are locking in good tenants well ahead of expiration. Line up real alternatives, meaning buildings with the right clear height, loading, power and parking that will be ready on your date. Compare total occupancy cost, including operating expenses, escalations and the cost of moving, not just base rent. And look at escalations closely: in Broward, only half of leases over 100,000 square feet carry 4% annual increases, compared with 86% of deals under 25,000 square feet.
Landlords are seeing strong renewal spreads nationally. EastGroup, which owns multi-tenant industrial across the Sun Belt, reported that rents on new and renewal leases signed in the third quarter rose about 36% over the leases they replaced. Tenants with leases signed several years ago should expect a meaningful step up.
If you are a small-bay tenant, plan for firm pricing and use your lead time to secure terms. If you lease a large block, newer buildings with vacancy give you options, so test the market before you renew. If you own, early renewals with fair terms are the surest way to keep your building off the availability list.
AXCESS Commercial represents tenants and landlords in renewals across all three counties, with leasing, listing buildings for sale and property management for owners.
Talk to our team about leasing, listing or managing industrial space →
A small island town north of Miami Beach has become one of South Florida's clearest tests of boutique office demand: Terra has refinanced its newly completed…
Jose Rueda · Oct 24, 2026Miami-Dade's industrial market heads into the fourth quarter with about 3.4 million square feet of listed space set to come available, including roughly 808,000 square feet…
Jose Rueda · Oct 24, 2026Some of Palm Beach County's most talked-about new shopping and dining destinations are being built inside or on top of former industrial property, from the restored…
Jose Rueda · Oct 24, 2026Whether you're looking to lease, buy, sell or invest, our team can help you make the right move in today's market.