During the first quarter of 2013 the office market continued in a recovery mode, which started in early 2012. The South Dayton Market remains the Dayton areas most active market centered around the Austin Landing interchange, along the Interstate 675 corridor and near the Dayton Mall submarket. The North Dayton Market continues to recover, led by activity along the Interstate 75 corridor. The Central Business District has continued to attract both buyers and tenants, with pricing well below the other markets. The East Dayton Market, which has historically led the market in activity, continues to show softness as we wait to see the impact sequestration and potential defense cuts will have on the market.
Notable office transactions include:
- The City of Riverside’s acquisition of the Wright Point Office Complex (165,000 sqft. for $2.5M)
- 11 West Monument (45,000 sqft. for $365K) for the conversions into a mixed use development
- 955 Mound Avenue ($695,000) at the Mound Advanced Technology Center.