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Dayton Office 21Q2 Report

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Dayton Office Market Records Occupancy Loss

Although vacancy is on the rise in the Dayton office market, this trend is expected to be transitory as continued demand for space from the defense sector accelerates and drives additional activity.

  • The Dayton office market recorded its second consecutive quarter of negative net absorption bringing the year-to-date loss to 72,264 SF.
  • Vacancy rose to 20%, a 30 bps increase for the quarter and 110 bps, year-over-year.
  • Suburban Class A rental rates currently average $23.93 per square foot, an increase of 8.4% over the past year, driven primarily by robust demand for space in the key East submarket.
  • Construction activity has increased totaling 256,700 SF and recent announcements from developers could add up to 375,000 SF of speculative product to the pipeline.

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Dayton Office 21Q2 Report

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Related Experts

Loren DeFilippo

Senior Customer Success Lead

Cincinnati

Loren oversees all  research activities for Colliers'  Ohio markets including, Cincinnati, Cleveland, Dayton and Akron/Canton.  His responsibilities include the collection, aggregation and analysis of data regarding office, industrial, retail and  multifamily asset classes, along with capital markets.  He prepares reports documenting current economic and commercial real estate market  conditions and provides forecasts to assist brokers  and clients in making informed business decisions. A firm believer in the power of knowledge, Loren utilizes research as a marketing tool in conjunction with the firm's marketing and business development efforts. Loren leverages  his 30+ years of career experiences as an architect, a broker specializing in the leasing and sale of office properties and market researcher to accelerate the success of our brokers, clients and stakeholders.

 

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Shenan Murphy

Vice Chairman

Cincinnati

Growing up, I always knew I wanted a job where I would be in control of my career path, and commercial real estate has allowed me to do that both personally and professionally. I began my career as a retail and investment broker in 1989. Today, I leverage my previous brokerage experience and knowledge to oversee the strategic and daily operations of Colliers International | Greater Cincinnati and Dayton. Additionally, in 2012 founded the Colliers Cleveland office. As the Vice-Chairmain leading multiple offices, I prioritize providing the best strategic leadership and oversight to a truly remarkable team. In addition to commercial real estate, I have created a diversified and innovative family of companies providing brokerage sales, investment, construction, information technology, and property management services.

The experience I gained from holding various positions throughout my career has allowed me to reach a broad base of clients and establish valuable relationships throughout Greater Cincinnati and Dayton. These relationships have provided the opportunity to aid some of the region’s most successful companies in making sound real estate decisions.

In addition to my daily responsibilities with Colliers, I'm part of a great family, three great kids and  spouse who is so supportive. 

I find great joy in being involved in my community. One of my personal goals is to help the Cincinnati community and those around me to move forward and grow with energy and purpose. I am a member of various organizations serving the community such as the University of Cincinnati Foundation (Board Member), the University of Cincinnati UCATS (Board Member), the University of Cincinnati Diamond Club for Baseball (Chairman), the University of Cincinnati College of Business (Real Estate Board Member), the Greater Cincinnati Regional Business Committee, and Cincinnati Young Presidents Organization.

I hold the CCIM commercial real estate designation and have affiliations with ICSC (International Council of Shopping Center), ULI (Urban Land Institute), and NAIOP (National Association of Industrial and Office Properties).

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Richard Meder

Sr. VP

Cincinnati

Area of Expertise

Richard Meder has been a Commercial Realtor® in Cincinnati since 1986. In that time, he has worked within the same company.

As Principal | Brokerage Senior Vice President of Colliers International Greater Cincinnati, Richard offers extensive corporate services and specializes in the sale and leasing of multi- and single-tenant commercial buildings throughout Greater Cincinnati, Dayton and Northern Kentucky. Richard also assists clients in fulfilling build-to-suit requirements and tenant representative assignments.​​ Richard specializes in site selections for corporate headquarters and has considerable expertise in successfully negotiating real estate transactions that require state tax incentives.

Community Involvement

“Giving back” is important to Richard. His interests reflect his lifetime involvement in the community and his commitment to youth and the organizations that support them. He is currently or has been involved with these organizations:

·  St. Rita School for the Deaf. Chairman of Board of Trustees.

·  The Fire Museum of Greater Cincinnati. Past President.

·  Seton Family Center (a Sisters of Charity-sponsored ministry). Board of Trustees, 9 years. Past President.

·  Springer School & Center. Board of Trustees, 9 years.

·  Dan Beard Council Boy Scouts of America, Maketewa District. Steering Committee.

·  Hoxworth Blood Center. Premier Donor.

·  Sisters of Charity of Cincinnati.

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