Dayton Office Market Sees Positive Momentum
Positive momentum, driven by defense contractors, erases occupancy losses recorded earlier in the year as the Dayton office market records positive net
absorption during the third quarter.
- The Dayton office market recorded 81,174 SF of positive net absorption during Q3, erasing the losses posted during the first half of the year.
- Vacancy remained unchanged at 20% due to the delivery of new supply to the market’s inventory.
- Suburban Class A rental rates currently average $24.17 per square foot, an increase of 7.7% over the past year, driven primarily by robust demand for space in the key East submarket.
- Construction activity has increased totaling 269,000 SF and recent announcements from developers could add up to 375,000 SF of speculative product to the inventory.