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Report: Dayton bucks national trend, sees office market growth in 2020

Colliers International reports the city's office market grew during each quarter of the year, with Q4 marking the ninth consecutive quarter of positive net absorption.

Dayton Business Journal

Despite the shift to remote work during the Covid-19 pandemic, the Dayton office market bucked the trend and recorded positive growth in 2020, according to a new report.

Colliers International reports the city's office market grew during each quarter of the year, with Q4 marking the ninth consecutive quarter of positive net absorption. Net absorption of 206,000 square feet during 2020 resulted in a decrease in vacancy of nearly a full percentage point at 19.2%.

Colliers noted the Dayton office sectors experienced a much lower reduction in employment as a percentage of the overall labor force. Home to Wright-Patterson Air Force Base, the region's office market is heavily dependent on the U.S. defense sector, which remained essential during the pandemic.

Read the full Cincinnati Business Journal article here.