By Gay Cororaton, MIAMI REALTORS Chief Economist
Key Takeaways
- Commercial real estate sales of multifamily, office, industrial, and retail real estate in Southeast Florida rose for the second straight year to $16.0 billion in 2025, up 26% from one year ago, the highest level since 2017.
- Commercial sales rose 32% in Miami-Dade County ($7.1 billion), 27% in Broward County ($5.5 billion), 12% in Palm Beach County ($2.8 billion), 1% in Martin County ($181 million), and 21% in St. Lucie County (367 million).
- Southeast Florida saw 19 $100 million or more commercial deals (10 in 2024). The largest record-breaking deal since 2019 is the $274 million acquisition of the Sabadell Financial Center by Ponte Gadea (investment arm of Zara founder Amancio Ortega).
Download the 2025 Q4 Southeast Florida Commercial Market Report HERE
Commercial real estate sales of multifamily, office, industrial, and retail real estate in Southeast Florida rose to a post-pandemic high of $16.0 billion in 2025, up 26% from one year ago, a strong follow-up to last year’s 41% growth. This is the highest level since 2017 when MIAMI Realtors® estimated the sales volume.
Sales rose as interest rates declined in the second half as the Fed delivered a cumulative 50 basis points cut in 2025 and as commercial lending picked up, with commercial mortgage transactions up 46% year-over-year as of the end of 2025 Q3. Underpinning the strong increase in commercial sales volume is Southeast Florida’s strong commercial market fundamentals and economic resilience.
Lower mortgage rates, increased lending, and Southeat Florida’s strong market fundamentals are driving the uptick in commercial sales
The area’s economic resilience is evident in a strong job market, with Miami-Dade County leading the the nation’s 10 largest counties in employment growth. Based on the latest data as of June 2025, employment in Miami-Dade County rose 1.7% year-over-year compared to 1.0% nationally. Employment data through March 2025 also shows rising employment in Broward County at 0.5%; Palm Beach County, 1.1%; Martin County, 1.6%; and St. Lucie County, 2.1%.
Domestic migration picked up in 2025, according to MIAMI Realtors analysis of driver license exchanges, led by migration from New York and California. In 2025, out-of-state driver license exchanges rose 12% in Miami-Dade and 6% in Broward. Domestic migration is likely to pick up further in 2026-2027 with New York and California eyeing to impose higher corporate taxes and income taxes on millionaires and billionaires. (See Domestic Migration to Miami-Dade, Broward Increases with New York Again as Top Feeder State – MIAMI REALTORS®)
Sales Volume Rose at Double-Digit Pace Across Asset Types Led by Retail and Office
Commercial real estate retail sales increased at a double-digit pace across the core four asset types, led by retail (+42%), office (+37%), multifamily (+18%), and industrial (+17%). Volume-wise, multifamily saw the largest sales volume ($4.9 billion), followed by retail ($4.0 billion), industrial ($4.0 billion), and office ($3.2 billion). Office and industrial sales volumes rose to post-pandemic highs. The uptick in industrial real estate acquisitions is worth noting given the increased macroeconomic risks to global trade and consumer spending amid higher tariffs imposed in 2025.
Miami-Dade County Led in Sales Volume and Growth
Miami-Dade County remains Southeast Florida’s commercial powerhouse, with Broward County making significant strides. Commercial sales rose to a post-pandemic high of $7.1 billion in Miami-Dade County, up 32%. In Broward County commercial sales rose 27% to $5.5 billion. In Palm Beach County, commercial sales rose 12% to $2.8 billion. In Martin County, sales rose 1% to $181 million. In St. Lucie County, sales rose 21% to $367 million.
More $100 M+ commercial sales deals in Southeast Florida in 2025
According to Miami Realtors analysis of county records data, Southeast Florida saw 19 commercial sales deals for multifamily, office, industrial, and retail assets in 2025. In 2024, there were just 10 deals at $100 million or more (highest were in 2021 and 2022, with 19 and 21 deals respectively).
The largest is the $274.4 million acquisition of an office building, the Sabadell Financial Center on 1111 Brickell by Amancio Ortega’s Ponte Gadea investment arm. The second largest is the $234 milllion acquisition of Sawgrass Square in Sunrise, Broward County. This deal is part of a $395 million portfolio of assets acquired in the US and Canada by a partnership between Bain Capital Real Estate (a global investment firm) and 11North Partners.
Broward County snagged two large office deals: the Bank of America Financial Center on 401 E Las Olas Boulevard for $221 million and the Las Olas Center on 350 E Las Olas Boulevard for $208 million.
