Philadelphia Industrial Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Cushman & Wakefield, CBRE, Lee & Associates
Quarterly industrial market indicators for Philadelphia, aggregated by CREhunt from Cushman & Wakefield, CBRE, Lee & Associates. As of Q2 2026, average asking rent was $9.86/SF/yr and vacancy was 10.3%, per Cushman & Wakefield.
Projected current industrial pricing — Philadelphia
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q2 2026 Cushman & Wakefield data (cap rate 5.5%, asking rent held flat). Assumes ~90% occupancy and a 72–88% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Cushman & Wakefield | $9.86/SF/yr | 10.3% | — | — | Cushman & Wakefield |
| Q1 2026 Cushman & Wakefield | $11.69/SF/yr | 10.8% | — | 5 SF | Cushman & Wakefield |
| Q1 2026 CBRE | $14.00/SF/yr | 3.8% | — | — | CBRE |
| Q4 2025 Cushman & Wakefield | $12.86/SF/yr | 11.2% | — | — | Cushman & Wakefield |
| Q3 2025 Cushman & Wakefield | $11.67/SF/yr | 11.9% | — | — | Cushman & Wakefield |
| Q2 2025 Cushman & Wakefield | $12.96/SF/yr | 11.4% | — | 1 SF | Cushman & Wakefield |
| Q1 2025 Cushman & Wakefield | $12.74/SF/yr | 9.9% | 2.9M SF | 30 SF | Cushman & Wakefield |
| Q4 2022 Lee & Associates | — | 3.2% | 10.5M SF | — | Lee & Associates |
| Q4 2020 Cushman & Wakefield | $6.28/SF/yr | 2.5% | — | 42K SF | Cushman & Wakefield |
| Q3 2020 Cushman & Wakefield | $6.08/SF/yr | 2.8% | 6 SF | 32K SF | Cushman & Wakefield |
| Q2 2020 Cushman & Wakefield | $5.98/SF/yr | 3.1% | 5 SF | — | Cushman & Wakefield |
| Q1 2020 Cushman & Wakefield | $6.17/SF/yr | 3.6% | 1.7M SF | — | Cushman & Wakefield |
Industrial asking rents by submarket
The newest asking rent a named brokerage's report published for each Philadelphia industrial submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Burlington County | $12.50/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Camden County | $12.26/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Chester County | $12.03/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Delaware County | $11.00/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Gloucester County | $12.01/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Lower Bucks County | $9.84/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Montgomery County | $9.63/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Salem County | $11.70/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Upper Bucks County | $10.20/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
Frequently asked questions
- What is the average asking rent for industrial space in Philadelphia?
- As of Q2 2026, the average asking rent for industrial space in Philadelphia was $9.86/SF/yr, per Cushman & Wakefield.
- What is the industrial vacancy rate in Philadelphia?
- The industrial vacancy rate in Philadelphia was 10.3% as of Q2 2026 (Cushman & Wakefield).
- Where does CREhunt's Philadelphia market data come from?
- This report aggregates quarterly industrial market data for Philadelphia from Cushman & Wakefield, CBRE, Lee & Associates.