Miami Industrial Figures - Q3 2026

Miami's existing stock is the tightest it has been in more than a year. Vacancy fell 40 basis points to 6.9% in Q3 2026 after three quarterly increases, and excluding buildings delivered since 2025 it dropped to 5.4%, the lowest in at least 18 months. Net absorption accelerated for a third straight quarter to 1.27 million sq. ft., bringing the year to 2.63 million sq. ft.

The next two quarters will test that momentum. About 1.9 million sq. ft. of signed leases are scheduled to move in during Q4 2026, while 3.4 million sq. ft. of listed space, including 808,000 sq. ft. of sublease, is also set to come available. How quickly that space backfills will decide whether vacancy holds near current levels into 2027.