Miami Industrial Rent Trends 2026

Miami's industrial rental market continues its upward trajectory in 2026, driven by sustained demand, limited new supply, and the region's growing importance as a logistics hub for Latin American trade.

Current Market Overview

The average asking rent for industrial space in Miami-Dade County now stands at $16.20/SF NNN, representing a 28% increase over the past three years. This acceleration outpaces the national average of 18% but reflects Miami's unique supply constraints and demand drivers.

Submarket Breakdown

Rental rates vary significantly across Miami's industrial submarkets, reflecting differences in building age, location advantages, and tenant composition.

Key Drivers of Rate Increases

Several factors contribute to continuing rent escalation:

• Limited new construction: Despite 2.5M SF under development, pre-leasing absorbs most new supply before completion.
• E-commerce expansion: National retailers continue building South Florida fulfillment networks.
• Latin American trade growth: PortMiami volume increases drive warehousing demand.
• Labor market dynamics: Wage inflation pressures operators, driving efficiency investments.

2026 Projections

We project continued rent growth of 5–8% through 2026, with Airport West and Class A facilities seeing the highest increases. Tenants seeking space should act decisively—waiting typically results in higher costs and fewer options.

Recommendations for Tenants

• Begin searches 6–9 months before needed occupancy
• Consider submarkets with availability (Hialeah, Opa-locka)
• Lock in longer terms to secure current rates
• Explore build-to-suit options for specific requirements