October 18, 2014 / By Dave Dickerson, President/Partner

Dayton Industrial Market Continues to Recover

Slide15According to our 2014 Industrial Market Survey, throughout this year, the Dayton industrial market has shown signs of moving from the recovery phase into the beginning stages of expansion in the real estate market cycle.  The overall vacancy rate for the industrial market in the Dayton region dropped to 19.39%, which is down from the 2013 figure of 20.68%. Within the Dayton regional market, a positive absorption of 389,607 square feet of space occurred during the 2014 survey period. The Dayton Area market experienced a positive absorption of 90,829 square feet during the same period.

The Dayton East Market remained the area’s most active with a vacancy rate of 7.10%, followed by the Upper Valley Market at 11.74%, and the Dayton North Market at 15.78%.

The Dayton South Market remains the softest with a current vacancy rate of 27.26% for 2014.  However, this market continues to show improvement as it recovers from the losses that occurred during the late 2000’s due to major employment departures.

The Upper Valley region showed the highest level of market absorption in 2014 with 298,778 sq. ft. of space being leased over the past 12 months.

Miller-Valentine Group Realty Services’ notable deals include:

  • AFCO Cargo leased 11,0000 sq. ft. at the Dayton International Airport
  • Oneida Warehousing leased 45,000 sq. ft. of warehousing space in Springboro
  • RPS Composites leased 25,000 sq. ft. in Franklin
  • Supply Technologies expanded into 45,000 sq. ft. of warehouse space in North Dayton

Miller-Valentine Group Realty Services’ Industrial Team of Gerry Smith and Steve Peters, SIOR along with Alan Cohen brokered these transactions.