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Miami's Industrial Sector Shows Resilience Amid Market Changes

Absorption turning negative doesn't tell the whole story.

By Anthony Russo | January 16, 2025 at 06:42 PM

Sometimes the obvious fundamentals don’t always tell the story.

For example, JLL’s fourth quarter market report on Miami Dade County analyzing the area’s industrial sector showed that net absorption turned negative at -483,906 square feet for the last three months of 2024. Add that to the vacancy rate ticking up 110 basis points to five percent and deliveries totaling over seven million square feet, which JLL refers to as an “abundant” amount of supply.

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