2016 Dayton Retail Market Remained Stable
According to our 2016 Retail Market Survey, the Dayton Area and Dayton Regional markets remained relatively stable during 2016, showing some positive signs of growth. Most submarkets showed an increase in occupancy.
This decrease vacancy in the Dayton Regional Market to 15.11% during 2016 was mainly due to strengthening in the Springfield and the East and South Dayton submarkets. Within the Dayton Regional Market, a positive absorption of 67,116 square feet of space occurred during the 2016 survey period. Of the outlying regional submarkets, Springfield, Xenia and Lebanon-Middletown were the most active in 2016, with positive absorption and increasing occupancy levels.
The vacancy rate for the Dayton Area Market (which includes the Dayton North, South, East, West, and CBD markets) fell to 13.26% during 2016, down from 13.92% in 2015. The Dayton Area Market experienced an overall net positive absorption of 92,535 square feet. The East Dayton market showed positive trends with over 120,000 square feet of positive space absorption in 2016. However, the Dayton North Market showed some signs of softening with vacancy rates increasing to 21.78%.
The Dayton Central Business District and surrounding neighborhoods (especially those near the University of Dayton) continue to attract many commercial and entertainment venues, including restaurants and micro-breweries, as well as “pop-up” retailers.
All in all, Dayton Region continues to see new activity. It is expected that the market will remain stable in 2017.
Download the 2016 Retail Market Report