Kensington, PA Industrial Market Report Q3 2026

Kensington recovers 244 bps of occupancy with rent growth at +2.4%

Demand

Kensington absorbed 362,831 SF in Q3 2026, against 75,292 in the same quarter last year. Vacancy is 7.9%, 244 bps tighter than Q3 2025.

Supply

Kensington recorded 0 SF of completions in Q3 and 78,930 over the trailing twelve months (-73% versus the prior TTM period). SF under construction equal 0.0% of inventory. Annual completions peaked at 444,454 SF in 2023.

Investment Market

Kensington recorded $20M in sales over the trailing twelve months, -75% against the prior TTM period; Q3 accounted for $3.4M. The high-water mark in this series is $134M in 2021. Deal-volume fi gures are directional; cap rate and price per SF are reported values.

Philadelphia MSA cap rates average 7.64%, up for 3 straight quarters. Philadelphia MSA pricing sits at $96 per SF, higher for 10 consecutive years.