South Florida’s industrial market is tied to international trade, with high demand from transportation, logistics and e-commerce companies.
In 2020, the average square footage of the five largest leases, 223,520 square feet, dropped off from last year’s 448,562 square feet.
Yet, one Seattle-based e-commerce company decided to make its mark this year, accumulating over 888,000 total square feet of leases in 2020.
Here’s a breakdown of the top industrial leases signed this year in South Florida.
1. Amazon, Pompano Beach, 252K sf
Amazon agreed to lease 252,000 square feet at 2800 North Andrews Avenue in Pompano Beach. The lease represented more than half of the 316,000 square feet of industrial space leased in Broward County during the second quarter.
2. Carnival Cruise Lines, Hialeah, 229K sf
Carnival Cruise Lines renewed 229,000 square feet of warehouse space in Hialeah. Carnival is occupying space at Centergate at Gratigny, a 1.6 million-square-foot facility with a 978,164-square-foot-warehouse.
3. Amazon, Miami, 216K sf
Amazon signed a lease for 216,000 square feet of space at 13450 Northwest 14th Street in Miami. Amazon joins Beacon Lakes Industrial Park tenants like Telemundo, Goya Foods and UPS.
4. Amazon, Hialeah, 211K sf
Amazon signed a lease for a warehouse in Hialeah during the second quarter. The warehouse at 5700 Northwest 37th Avenue has 211,000 square feet.
5. Amazon, Miami, 210K sf
Amazon inked a deal to lease 209,601 square feet at 3401 Northwest 72nd Avenue in Miami, next to Miami International Airport. The warehouse is located in the Prologis-owned MIA Business Center.
SOURCE: TRD analysis of brokerage data, as provided by Colliers International, news clippings and market reports.