Lease terms for industrial properties vary depending on factors such as location, property size, market demand, and landlord preferences. In South Florida, most Landlords look for 3-5 year terms, with renewal options.

In a NNN lease, the tenant is responsible for paying their pro-rated share of operating expenses associated with the property in addition to the base rent. This typically includes: property taxes, insurance, maintenance and repairs (including common area maintenance).

In a gross lease, all of these costs are already included in the quoted lease rate.

As an incredibly land-constrained city, Miami is boxed in by the Everglades to the west, and the ocean to the east. With the influx of population growth we have experienced over the last few years, along with the increase in e-commerce, more industrial space has been required to service the new population. As a result, existing industrial properties have become more and more valuable as the areas available for industrial development continue to dwindle.

Zoning plays a huge role in the viability of a location for the intended industrial use. Depending on the intensity of the industrial zoning, some uses, like heavy manufacturing, might not be allowed in all industrial areas. It is always best to consult an attorney to ensure a smooth transition.