During the first quarter of 2013 the retail market continued to be Dayton’s strongest sector, hovering near 10% vacancy. The South Dayton Market remains the Dayton areas mostactive market centered around the Austin Landing interchange and near the Dayton Mall submarkets. The North and West Dayton Markets continue to be in recession as absorption and vacancy rates lag behind the other markets. Dayton’s East Market, which has historically led the market in activity, continues to strengthen with a sub 10% market vacancy. Infill developments play a prominent role as consumer desiring options closer to employment and residential hubs.
Notable retail transactions include:
- The sale of Northmont Plaza Shopping Center in Englewood (130,000 sqft. for $3.125M)
- The sale of the former L’Auberge Restaurant (1 acre for $800K), located at 4120 Far Hills Avenue in Kettering. The buyer, Anchor Corporate Development, plans to redevelopment the site.