Covers 3Q 2026 · Data as of October 2026 · Updated · Ironmark research
Florida industrial vacancy ranged from 3.4% in Melbourne to 16.3% in Port St. Lucie in 3Q 2026, across the ten metros where Ironmark publishes a quarterly report. Average asking rent ran from $8.69 to $17.32 per SF per year, and market cap rates from 5.9% to 8.5%. This page puts every metro’s headline figures in one table, refreshed each quarter from the same data as the metro reports.
Florida industrial market data by metro, 3Q 2026
| Market | Vacancy | Change in a year | Avg asking rent ($/SF/yr) | Rent change in a year | Median sale price / SF | Market cap rate | Net space leased, 12 months | Under construction |
|---|---|---|---|---|---|---|---|---|
| Miami-Dade | 7.8% | +1.3 pts | $17.07 | — | $298 | 5.9% modeled | +33.7K SF | 2.61M SF |
| Fort Lauderdale (Broward) | 7.2% | +1.2 pts | $17.32 | — | $274 | 6.7% modeled | −212K SF | 829K SF |
| Palm Beach County | 8.1% | +1.3 pts | $14.51 | — | $285 | 6.4% modeled | −23K SF | 277K SF |
| Port St. Lucie (Treasure Coast) | 16.3% | +4.4 pts | $10.90 one report | — | $212 | 7.7% modeled | −1.29M SF | 801K SF |
| Melbourne (Space Coast) | 3.4% | −0.2 pts | $13.71 all buildings | +2.3% | $149 | 8.2% modeled | +292K SF | 2.20M SF |
| Orlando | 9.3% | +1.4 pts | $10.72 | — | $185 | 6.7% modeled | −265K SF | 3.56M SF |
| Lakeland / Polk | 7.7% | +0.6 pts | $9.18 one report | — | $129 | 7.4% modeled | +1.24M SF | 2.75M SF |
| Tampa Bay | 8.3% | +1.1 pts | $11.35 | — | $165 | 7.6% modeled | +12.8K SF | 3.58M SF |
| Fort Myers (Lee County) | 9.2% | +0.8 pts | $13.75 one report | — | $214 | 8.5% modeled | +962K SF | 1.24M SF |
| Jacksonville | 9.5% | +1.7 pts | $8.69 | — | $145 | 7.1% modeled | +1.94M SF | 1.78M SF |
Source: Ironmark research, quarterly Florida Industrial Market Reports, 3Q 2026 (data as of October 2026). Asking rent is the market consensus of third-quarter brokerage reports unless marked one report (only one report states it) or all buildings (average across all industrial property). Rent change is shown only where it describes the same rent figure. Cite as: Ironmark Research, Florida Industrial Market Data, 3Q 2026, www.ironmarkcre.com/reports/florida-industrial-market-data.
What the table shows
- Demand is split. Miami-Dade, Melbourne, Lakeland / Polk, Tampa Bay, Fort Myers and Jacksonville filled more space than they emptied over the last twelve months; Fort Lauderdale, Palm Beach County, Port St. Lucie and Orlando gave space back. Jacksonville led at +1.94M SF.
- The price spread is wide. Fort Lauderdale asks about 2.0 times Jacksonville’s rent, and the lowest market cap rate (5.9% modeled, Miami-Dade) sits 2.6 pts below the highest (8.5% modeled, Fort Myers).
- The pipeline. About 19.6 million SF is under construction across the ten metros, the most in Tampa Bay (3.58M SF).
By market
What is driving each metro, in the words of its current Ironmark report, with the quarter’s figures alongside.
Miami-Dade
Miami-Dade’s big users didn’t wait for the airport core to clear: they went north and took whole buildings. The change in occupied space (space tenants moved into, minus space they moved out of) was +1.38M SF in the third quarter and +33.7K SF over twelve months, even though it fell 1.48 million SF near the airport. Over the past twelve months net space leased (move-ins minus move-outs) came to 33.7K SF; 2.61M SF is under construction. Average asking rent is $17.07 per SF per year, the median sale price $298/SF and the modeled market cap rate 5.9%. Read the full Miami-Dade industrial market report →
Fort Lauderdale (Broward)
Broward’s biggest tenants stayed put, and its buildings changed hands. The change in occupied space (space tenants moved into, minus space they moved out of) was +158K SF in the third quarter, but six of the ten largest leases of the year were renewals, so occupied space is still down slightly over twelve months, at (212K) SF for the year. Over the past twelve months the market gave back 212K SF net (more move-outs than move-ins); 829K SF is under construction. Average asking rent is $17.32 per SF per year, the median sale price $274/SF and the modeled market cap rate 6.7%. Read the full Fort Lauderdale industrial market report →
Palm Beach County
Palm Beach is filling last year’s new buildings, and almost nothing is coming behind them. Vacancy (the share of space that is empty) is 8.1%, up 1.3 pts in a year as 998,000 SF of new buildings opened, yet occupied space rose +85.7K SF in the third quarter (space tenants moved into minus space they left). Over the past twelve months the market gave back 23K SF net (more move-outs than move-ins); 277K SF is under construction. Average asking rent is $14.51 per SF per year, the median sale price $285/SF and the modeled market cap rate 6.4%. Read the full Palm Beach County industrial market report →
Port St. Lucie (Treasure Coast)
On the Treasure Coast, the vacancy has an address. Vacancy (the share of space that is empty) is 16.3%, up 4.4 percentage points in a year, but the coastal towns run just 4.7%. Over the past twelve months the market gave back 1.29M SF net (more move-outs than move-ins); 801K SF is under construction. Average asking rent is $10.90 per SF per year, the median sale price $212/SF and the modeled market cap rate 7.7%. Read the full Port St. Lucie industrial market report →
Melbourne (Space Coast)
Brevard County is tight today and gets tested in 2027. Vacancy (the share of space that is empty) is just 3.4%: only 1.12M SF of 33.3M SF is empty. Over the past twelve months net space leased (move-ins minus move-outs) came to 292K SF; 2.20M SF is under construction. Average asking rent is $13.71 per SF per year (up 2.3% in a year), the median sale price $149/SF and the modeled market cap rate 8.2%. Read the full Melbourne industrial market report →
Orlando
Orlando’s core emptied while the rest of the metro kept filling. In the third quarter, the change in occupied space (space tenants moved into, minus space they moved out of) was +64.0K SF. Over the past twelve months the market gave back 265K SF net (more move-outs than move-ins); 3.56M SF is under construction. Average asking rent is $10.72 per SF per year, the median sale price $185/SF and the modeled market cap rate 6.7%. Read the full Orlando industrial market report →
Lakeland / Polk
Lakeland built big and leased small in 3Q 2026. Vacancy, the share of space that is empty, rose to 7.7%, up 0.6 pts in a year: about 2M SF of new space opened over 12 months, while the change in occupied space (space tenants moved into, minus space they moved out of) was +1.24M SF. Over the past twelve months net space leased (move-ins minus move-outs) came to 1.24M SF; 2.75M SF is under construction. Average asking rent is $9.18 per SF per year, the median sale price $129/SF and the modeled market cap rate 7.4%. Read the full Lakeland / Polk industrial market report →
Tampa Bay
Tampa Bay’s older buildings blinked first in 3Q 2026. Vacancy (the share of space that is empty) held at 8.3%, up 1.1 pts in a year. Over the past twelve months net space leased (move-ins minus move-outs) came to 12.8K SF; 3.58M SF is under construction. Average asking rent is $11.35 per SF per year, the median sale price $165/SF and the modeled market cap rate 7.6%. Read the full Tampa Bay industrial market report →
Fort Myers (Lee County)
In Lee County, one corridor tells both stories. Vacancy (the share of space that is empty) is 9.2%, up 0.8 pts in a year, and two-thirds of the empty space sits on the airport–I-75 corridor. Over the past twelve months net space leased (move-ins minus move-outs) came to 962K SF; 1.24M SF is under construction. Average asking rent is $13.75 per SF per year, the median sale price $214/SF and the modeled market cap rate 8.5%. Read the full Fort Myers industrial market report →
Jacksonville
In Jacksonville, tenants are signing early while new space is still filling. Occupied space rose +1.01M SF in the third quarter and +1.94M SF over twelve months (space tenants moved into minus space they left), but 5.2 million SF of new buildings opened in that year, so vacancy (the share of space that is empty) rose to 9.5%. Over the past twelve months net space leased (move-ins minus move-outs) came to 1.94M SF; 1.78M SF is under construction. Average asking rent is $8.69 per SF per year, the median sale price $145/SF and the modeled market cap rate 7.1%. Read the full Jacksonville industrial market report →
Method and definitions
- Vacancy: vacant industrial space as a share of the metro’s total industrial inventory. Change in a year is the move against a year earlier, in percentage points (pts).
- Average asking rent: dollars per square foot per year. For most metros it is the market consensus (median) of third-quarter brokerage reports; one report means only one report states a figure; all buildings means the average across all industrial property, used where no brokerage report covers the metro. Rent change in a year is shown only where it describes that same rent.
- Median sale price: the median price per square foot of the industrial sales recorded over the past twelve months.
- Market cap rate: a modeled market-wide estimate rather than an average of closed sales.
- Net space leased, 12 months: occupied space gained over the past twelve months, move-ins minus move-outs (a minus means space was given back).
- Under construction: industrial square footage under construction.
- Quarter naming: each report covers a calendar quarter and is published in the first weeks of the next. The figures are a snapshot of data as of October 2026.
Each metro’s report breaks these figures down by submarket and building size, where they vary far more than the headline. To see where a specific building sits against them, start with a free property valuation.
Questions about this data
Which Florida industrial markets filled space over the last year?
Over the past twelve months (data as of October 2026), Miami-Dade (+33.7K SF), Melbourne (+292K SF), Lakeland / Polk (+1.24M SF), Tampa Bay (+12.8K SF), Fort Myers (+962K SF) and Jacksonville (+1.94M SF) leased more industrial space than was vacated, while Fort Lauderdale, Palm Beach County, Port St. Lucie and Orlando gave space back, according to Ironmark research.
How much industrial space is under construction in Florida?
About 19.6 million SF of industrial space was under construction across Miami-Dade, Fort Lauderdale, Palm Beach County, Port St. Lucie, Melbourne, Orlando, Lakeland / Polk, Tampa Bay, Fort Myers and Jacksonville (3Q 2026, data as of October 2026), according to Ironmark research, with the most in Tampa Bay at 3.58M SF.
What does “modeled” mean in Ironmark’s market data?
A modeled cap rate is a market-wide estimate rather than an average of closed sales. Ironmark labels it because the two can differ: in 3Q 2026, the median cap rate of Miami-Dade sales that disclosed one was 6.7%, against 5.9% modeled for the broader market.