Data through 30 June 2026 (2Q 2026) · Updated · Ironmark research
Florida industrial vacancy ranged from 7.3% in Fort Lauderdale to 9.4% in Jacksonville in 2Q 2026, across the seven metros where Ironmark publishes a quarterly brief. Average asking rent ran from $9.48 to $21.01 per SF NNN, and cap rates from 5.9% to 7.4%. 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, 2Q 2026
| Market | Vacancy | YoY change | Asking rent / SF (NNN) | Rent growth YoY | Avg sale price / SF | Cap rate | 12-mo net absorption | Under construction |
|---|---|---|---|---|---|---|---|---|
| Miami-Dade | 7.8% | +130 bps | $21.01 | +1.3% | $280 modeled | 5.9% | −636K SF | 4.33M SF |
| Fort Lauderdale (Broward) | 7.3% | +180 bps | $20.69 | +0.8% | $260 | 6.7% | −1.1M SF | 1.3M SF |
| Palm Beach County | 7.6% | — | $18.37 | +2.4% | $220 modeled | 6.5% modeled | −340K SF | 888K SF |
| Orlando | 8.9% | +50 bps | $14.65 | +4.1% | $173 | 6.4% | 1.9M SF | 3.94M SF |
| Tampa Bay | 8.3% | +110 bps | $12.79 | +1.4% | $159 comps | 7.2% | −482K SF | 3.05M SF |
| Jacksonville | 9.4% | +280 bps | $9.94 | +0.9% | $119 | 7.1% | +1.6M SF | 1.5M SF |
| Lakeland / Polk | 7.6% | −80 bps | $9.48 | +4.1% | $114 modeled | 7.4% modeled | 2.33M SF | 1.52M SF |
Source: Ironmark research, quarterly Florida Industrial Briefs, 2Q 2026 (data through 30 June 2026). Cite as: Ironmark Research, Florida Industrial Market Data, 2Q 2026, www.ironmarkcre.com/reports/florida-industrial-market-data.
What the table shows
- Demand is split. Orlando, Jacksonville and Lakeland / Polk absorbed space over the last twelve months; Miami-Dade, Fort Lauderdale, Palm Beach County and Tampa Bay gave space back. Lakeland / Polk led at 2.33M SF.
- The price spread is wide. Miami-Dade asks about 2.2 times Lakeland / Polk’s rent, and the tightest cap rate (5.9%, Miami-Dade) sits 150 basis points inside the widest (7.4% modeled, Lakeland / Polk).
- The pipeline is modest. About 16.5 million SF is under construction across the seven metros, the most in Miami-Dade (4.33M 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 industrial market is re-pricing supply, not demand. Headline vacancy of 7.8% — up from 6.5% a year ago — masks a sharp split by size: big-box product over 250,000 SF is 13.2% vacant, while small-bay under 50,000 SF holds at 4.2%. Over the twelve months to 30 June 2026 the market gave back 636K SF net; 4.33M SF is under construction. Average asking rent is $21.01 per SF NNN (+1.3% year over year), the average sale price $280/SF (modeled) and the average cap rate 5.9%. Read the full Miami-Dade industrial market report →
Fort Lauderdale (Broward)
Fort Lauderdale’s industrial market has recalibrated after an extended run of historically tight conditions. The headline — a 7.3% vacancy rate, a ten-year high — masks a vintage split: pre-2000 product sits at 3.3% vacancy while space delivered in the past five years runs closer to 35%. Over the twelve months to 30 June 2026 the market gave back 1.1M SF net; 1.3M SF is under construction. Average asking rent is $20.69 per SF NNN (+0.8% year over year), the average sale price $260/SF and the average cap rate 6.7%. Read the full Fort Lauderdale industrial market report →
Palm Beach County
Palm Beach industrial is digesting a supply cycle that arrived just as demand cooled. Headline vacancy of 7.6% — up from a 2.6% low in 2022 and now a hair above the 7.5% U.S. rate — masks the split that sets deal terms here: the roughly 85 buildings of 100,000 SF or more are about 19% vacant, while product under 100,000 SF holds near 4.1%. Over the twelve months to 30 June 2026 the market gave back 340K SF net; 888K SF is under construction. Average asking rent is $18.37 per SF NNN (+2.4% year over year), the average sale price $220/SF (modeled) and the average cap rate 6.5% (modeled). Read the full Palm Beach County industrial market report →
Orlando
Orlando’s industrial market is recalibrating after a three-year expansion that added 17.8 million SF to inventory. The headline — an 8.9% vacancy rate, a 12-year high — masks a sharp split: buildings over 500,000 SF are pushing toward 20% availability, while small-bay product under 20,000 SF sits below 4%. Over the twelve months to 30 June 2026 the market absorbed 1.9M SF net; 3.94M SF is under construction. Average asking rent is $14.65 per SF NNN (+4.1% year over year), the average sale price $173/SF and the average cap rate 6.4%. Read the full Orlando industrial market report →
Tampa Bay
Tampa is working off the far side of a record construction cycle. Headline vacancy of 8.3% — a 15-year high, up roughly 110 bps YoY — reflects new deliveries landing into softer demand, not a demand collapse: the market gave back roughly 482,000 SF over the trailing year, with move-outs concentrated in older product while post-2019 buildings held or gained. Over the twelve months to 30 June 2026 the market gave back 482K SF net; 3.05M SF is under construction. Average asking rent is $12.79 per SF NNN (+1.4% year over year), the average sale price $159/SF (comps) and the average cap rate 7.2%. Read the full Tampa Bay industrial market report →
Jacksonville
Jacksonville built for a decade of growth and delivered most of it at once. Vacancy has climbed to 9.4% — up nearly 280 bps on the year and now well above the 7.5% national mark — after roughly 6.9M SF came online in twelve months and 26.6M SF over five years. Over the twelve months to 30 June 2026 the market absorbed 1.6M SF net; 1.5M SF is under construction. Average asking rent is $9.94 per SF NNN (+0.9% year over year), the average sale price $119/SF and the average cap rate 7.1%. Read the full Jacksonville industrial market report →
Lakeland / Polk
Lakeland’s industrial market has a demand problem only in the sense that demand is concentrated. Headline vacancy of 7.6% has tightened roughly 80 bps over the year as 2.33M SF was absorbed against 1.7M SF of deliveries — but a single 1.2-million-SF PepsiCo commitment drove more than half of that. Over the twelve months to 30 June 2026 the market absorbed 2.33M SF net; 1.52M SF is under construction. Average asking rent is $9.48 per SF NNN (+4.1% year over year), the average sale price $114/SF (modeled) and the average cap rate 7.4% (modeled). Read the full Lakeland / Polk industrial market report →
Method and definitions
- Vacancy: vacant industrial space as a share of the metro’s total industrial inventory at the end of the quarter. YoY change is the move against the same quarter a year earlier, in basis points.
- Asking rent: the average asking rent per square foot per year, triple net (NNN). Rent growth is year over year.
- Average sale price and cap rate: the brief’s average for the market. Where marked modeled, the figure is a market-wide estimate rather than an average of closed sales. Where marked comps, it is the average of the comparable sales in the brief.
- 12-month net absorption: occupied space gained (or, in parentheses as a minus, given back) over the trailing twelve months.
- Under construction: industrial square footage under construction at quarter end.
- Quarter naming: each figure is labelled with the calendar quarter its data covers, and published in the first weeks of the following quarter.
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 absorbed space over the last year?
In the twelve months to 30 June 2026, Orlando (1.9M SF), Jacksonville (+1.6M SF) and Lakeland / Polk (2.33M SF) posted positive industrial net absorption, while Miami-Dade, Fort Lauderdale, Palm Beach County and Tampa Bay gave space back, according to Ironmark research.
How much industrial space is under construction in Florida?
About 16.5 million SF of industrial space was under construction across Miami-Dade, Fort Lauderdale, Palm Beach, Orlando, Tampa Bay, Jacksonville and Lakeland at 30 June 2026, according to Ironmark research, with the most in Miami-Dade at 4.33M SF.
What does “modeled” mean in Ironmark’s market data?
A modeled sale price or cap rate is a market-wide estimate rather than an average of closed sales. Ironmark labels it because the two can differ: in 2Q 2026, Lakeland / Polk comparables that closed traded near a 6.1% cap rate against 7.4% modeled for the broader market.