The latest data from the MIAMI Association of Realtors® Commercial division shows that Southeast Florida (Miami-Dade, Broward, and Palm Beach counties) remains one of the most active and resilient commercial real estate markets in the country.
Key Highlights – First Three Quarters of 2025
- Total sales volume across the tri-county area reached $9.6 billion in Q1–Q3 2025, an 18% increase year-over-year.
- Q3 alone posted $4 billion in closed transactions — up 29% from Q3 2024.
- All four core asset classes (office, retail, industrial, multifamily) recorded higher sales volume than the same period last year.
- Office led the growth with a remarkable +42% increase in dollar volume.
- Retail followed closely at +24%, industrial +16%, and multifamily +5%.
County-by-County Performance
- Miami-Dade County: $4.4 billion in volume (+30% YoY) — continued to account for roughly half of all regional activity. Multifamily and industrial led the surge.
- Broward County: $4.0 billion (+36% YoY) — the strongest percentage growth in the region, driven by a 162% jump in office sales and continued strength in industrial and multifamily.
- Palm Beach County: $1.3 billion (−33% YoY) — the only county to see a decline, though retail posted a solid +64% increase fueled by several high-profile shopping-center transactions.
Pricing Trends – Median Price per Square Foot (Q3 2025 vs Q3 2024)
Office space saw the most dramatic price appreciation:
- Miami-Dade: $657/psf (+63%)
- Broward: $342/psf (+26%)
- Palm Beach: $498/psf (+3%)
Retail and industrial pricing was more mixed across counties, but overall median prices per square foot remain significantly higher than pre-2020 levels, reflecting continued demand for quality assets.
Market Fundamentals Remain Solid
- Vacancy rates across office, retail, industrial, and multifamily are generally below national averages.
- Asking rents continue to rise, especially for Class A office space (Miami-Dade now averaging $63/sf, Broward $42/sf, Palm Beach $60/sf).
- Construction pipelines are active, particularly in multifamily and Palm Beach County office projects.
Notable Q3 2025 Transactions
- Sawgrass Square (Sunrise, Broward) – $234.2 million (retail)
- Doral warehouse – $130.7 million (industrial)
- Uptown Boca (Boca Raton, Palm Beach) – $118.4 million (retail)
Outlook
Despite higher interest rates and occasional macroeconomic concerns, investor confidence in Southeast Florida commercial real estate remains high. Out-of-state and international capital continues to flow into the market, attracted by the region’s population growth, wealth migration (especially into Palm Beach and Broward), and its role as a global trade gateway.
Office and retail, in particular, are showing surprising strength in 2025 — a trend we expect to continue into 2026 as companies and tenants seek high-quality space in a market with limited supply of top-tier product.
Click here to read the entire report.
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