Inside South Florida’s Biggest Industrial Leases of 2025

South Florida’s industrial market softened this year, largely due to speculative construction that added vacant space to the market.

Although leasing was steady, activity didn’t catch up to the significant deliveries of warehouses, distribution and manufacturing facilities.

The tri-county region’s vacancy rate jumped this year, despite hefty leasing.

In Miami-Dade County, where 1.2 million square feet was completed in the third quarter, the vacancy reached 6.5 percent that quarter, up from 4.9 percent during the same period last year, according to Colliers.

Broward County’s vacancy rate was 6.4 percent in the third quarter, up from 4.7 percent during the same time last year. Over 710,000 square feet was completed in the county through September of this year, Colliers data shows. In Palm Beach County, where 872,600 square feet were completed this year through September, the vacancy rate jumped to 7.2 percent from 6.6 percent in the third quarter of last year.

Yet, South Florida scored several big leases this year. Out of the top 10 deals, seven were new leases and three were renewals.

Miami-Dade scored the most big leases, representing nine out of the 10 biggest deals. Palm Beach landed one of the top 10 leases and Broward scored none.

Top deal

A global logistics firm stayed put in north Miami-Dade County’s biggest industrial lease this year.

CEVA Logistics, based in Marseille, France, renewed its 364,600-square-foot lease at the warehouse at 5601 Northwest 72nd Avenue in the Airport North/Medley submarket in an unincorporated area of the county. The deal was signed in the first quarter.

CEVA, led by Mathieu Friedberg, has been leasing the space since at least 2014. It previously renewed its lease in 2019.

The firm has 1,500 sites across 170 countries, according to its website. Its services include ocean, air and ground transportation, including through rail.

New York-based Clarion Partners owns the Airport North/Medley warehouse, records show. Completed in 2003, the building is on 20.3 acres. David Gilbert is CEO of Clarion.

Amazon loads up

Jeff Bezos’ e-commerce behemoth Amazon leased a warehouse in Opa-locka, marking the top industrial deal in Miami-Dade for the second quarter.

Seattle-based Amazon took 235,900 square feet at 12805 Northwest 42nd Avenue, less than a mile from its mega-warehouse fulfillment center at the Miami-Opa Locka Executive Airport.

The more recently leased warehouse will be used as part of Amazon’s network for extra large packages, media reports said, citing an Amazon spokesperson.

San Francisco-based Prologis completed development of the Opa-locka warehouse in 2023 on a 14.6-acre site, according to records.

Prologis co-founder Hamid Moghadam will step down from his role as CEO at year’s end and will be replaced by Dan Letter. Moghadam will continue as executive chairman of the firm.

Food distributor good to go

Performance Food Group kept its facility in Miami-Dade.

The food distributor renewed its 229,300-square-foot lease at 3595 Northwest 125th Street in an unincorporated area of the county, signing the deal in the first quarter. The property is south of Miami-Opa locka airport.

Richmond, Virginia-based Performance Food Group is led by George Holm.

New York-based TIAA, or Teachers Insurance and Annuity Association of America, owns the facility that sits on 10.1 acres, according to records. TIAA is led by Thasunda Brown Duckett.

Interworld Freight consolidates

A logistics company centralized its Miami-Dade County outposts in one space at the Flagler Station industrial campus.

Interworld Freight leased 226,100 square feet at 9601 Northwest 112th Avenue in the Airport North/Medley submarket in an unincorporated area of the county. The deal, signed in the first quarter, consolidated several of the firm’s spaces within Flagler Station, including at 9705 Northwest 108th Avenue.

Founded in 1992 by CEO John Crespo, Interworld focuses on providing logistics services between the U.S. with Latin America and the Caribbean.

An entity tied to Prologis owns the building, records show.

Niagara Bottling goes with flow

A bottled water company moved its warehouse, staying within the Palm Beach Park of Commerce.

Niagara Bottling, based in Southern California, leased 182,800 square feet at 15810 Walgreens Drive in an unincorporated area of Palm Beach County, near Jupiter. It moved as its lease at its former space expired, a company spokesperson told news publications.

The deal was signed in the second quarter.

Indianapolis-based Ambrose Property Group developed the Palm Beach Park of Commerce building, completing it last year, property records show. Ambrose is led by Aasif Bade.

Snack-packer renews HQ

A grocery and consumer packaged goods distributor kept its headquarters at Miami-Dade County’s Flagler Station industrial complex.

Walton & Post renewed its 179,700-square-foot lease at 9375 Northwest 117th Avenue in unincorporated Miami-Dade. The deal was signed in the second quarter.

Walton & Post has been leasing space at the building since at least 2015, according to CompStak.

Flagler Global Logistics, a subsidiary of Miami-based Florida East Coast Industries, was the master developer of Flagler Station. It completed the building where Walton & Post has its headquarters in 2015, records show.

Garland Food brings spice to Medley

A produce supplier leased in Miami-Dade County.

Garland Food leased 174,400 square feet at 11301 Northwest 97th Avenue in Medley, signing the deal in the first quarter.

Garland, based elsewhere in Miami-Dade, is a supplier of garlic, ginger, shallots, turmeric and other produce, according to its website. It has production plants in Miami-Dade; Plant City, which is in Hillsborough County in Florida; and Pennsauken, New Jersey.

Hilco Redevelopment Partners, a subsidiary of Northbrook, Illinois-based Hilco Global, paid $8.4 million for the 8.6-acre development site where it completed the Medley building last year, according to property records and LoopNet.

Boise Cascade takes down square footage

A building materials company opened a warehouse in Miami-Dade County.

Boise, Idaho-based Boise Cascade leased 162,100 square feet at 7000 Northwest 32nd Avenue in the first quarter. The property is in the Airport East Distribution Center in an unincorporated area of the county.

The firm is a producer of engineered wood products, panels and lumber, and a wholesale distributor of a variety of products, including metal, cement, decking, doors, millwork and its own wood, according to its website.

Boise Cascade has other facilities in South Florida. Its distribution division paid $31 million in 2023 for the flex-industrial property at 1300 Allendale Road in West Palm Beach.

Oak Brook, Illinois-based CenterPoint Properties owns the Miami-Dade facility where Boise Cascade leased, according to records. The property is on an 18.1-acre site and was built in 1955 and renovated in 2008, LoopNet shows.

Flagler Station smelling like a rose

A wholesale distributor of perfumes opened at the Flagler Station campus in Miami-Dade County.

Miami Trading Zone leased nearly 162,000 square feet at 10801 Northwest 97th Street in the second quarter. The company’s website shows it’s based at the warehouse.

The space is in an unincorporated area of the county in the Airport North/Medley submarket.

Boston-based AEW Capital Management, led by Jonathan Martin, owns the warehouse that was completed in 2005 on a 10.3-acre lot, according to property records.

Bottling company pops into Opa-locka

American Bottling leased 150,600 square feet at the Carrie Meek International Business Park in Opa-locka.

It was the biggest deal in Miami-Dade County in the third quarter.

Orlando-based Foundry Commercial, with Clarion Partners as an investor, are developing the Carrie Meek International Business Park on land leased from the county roughly on the northeast corner of Northwest 145th Street and Northwest 37th Court. It’s within the Miami-Opa locka Executive Airport. The first two buildings were completed in 2018.

American Bottling, based in Los Angeles, offers bottling services for liquids, hand sanitizer, alcohol, water, gel, oil, lotions and creams, according to its LinkedIn.

Sources: The Real Deal’s analysis of deals reported by TRD, Colliers, Cushman & Wakefield and Commercial Observer.