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Dayton Retail 21Q3 Report

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Dayton Retail Market Remains Stable

The Dayton retail market has recovered from the large loss recorded in early 2020 and the subsequent lack of market activity throughout the COVID-19 pandemic. Overall vacancy fell by 60 bps this quarter, driven by an occupancy gain totaling 189,551 square feet. The lack of new construction has also contributed to the fall in vacancy as retailers seeking space have only existing buildings from which to choose. Rental rates have also recovered, rising 2%, year-over-year, to $9.55 per square foot led by the community center sector, which posted a 4.9% annual gain to $13.50 per square foot.

  • The Dayton retail market recorded positive net absorption totaling 189,551 square feet during the third quarter of 2021.
  • Overall market vacancy fell 60 bps from last quarter, and 90 bps, year-over-year, and now equals 9.9%.
  • Construction activity is limited to a few small projects with very little scheduled for ground-breaking in the near-term.
  • After a period of quarterly declines, asking rental rates have begun to recover, increasing by 2% over the past 12 months to an average of $9.55 per square foot.

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Dayton Retail 21Q3 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

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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.

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Todd Cochran

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I am proud to represent Industrial landlords and tenants in the Greater Dayton market on behalf of Colliers.  I started my career in commercial real estate a few years out of college at a regional firm in Dayton.  There I began to learn what it takes to achieve the most success for my clients.  A few of the necessities are attention to detail, approaching each project with enthusiastic energy, truthfulness at all times and an exceptional work ethic.

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